SUBJECT: Adoption of a Resolution of Intent Regarding Annexation No. 24 into Community Facilities District (CFD) No. 2003-2 (Services), Approving a Deposit and Reimbursement Agreement for Annexation No. 24, and Setting a Public Hearing for June 5, 2023, Annexation No. 24 Consists of Approximately 38 Acres of Land Generally Located at the Northwest Corner of G Street and Farmland Avenue REPORT IN BRIEF Requests the City Council to adopt a Resolution of Intent to annex approximately 38 acres of land generally located at the northwest corner of G street and Farmland Avenue (CFD Annexation No. 24) into the City’s CFD for Services (CFD 2003-2), including the approval of a Deposit and Reimbursement Agreement for the annexation; accept the petition, consent, and waiver for Annexation No. 24; and set a public hearing and election for June 5, 2023. RECOMMENDATION City Council - Adopt a motion: A. Adopting Resolution 2023-26, a Resolution of Intention of the City Council of the City of Merced, acting as the Legislative Body of the City of Merced Community Facilities District No. 2003-2 (Services), declaring its intention to annex area to said district and authorize the levy of a special tax within said annexation and approving a certain agreement related thereto; and, B. Setting the Public Hearing for June 5, 2023; and, C. Accepting the Petition, Consent and Waiver from Hostetler Investments, LLC for Annexation No. 24; and, D. Accepting the deposit amount of $25,000 in Fund 150, increasing the revenue and appropriating the same to cover the cost of Community Facilities District formation and related expenditures for Annexation No. 24; and, E. Authorizing the City Manager or Deputy City Manager to execute the Deposit and Reimbursement Agreement.

What this record is

Held by

Hostetler Investments, LLC

Amount

$25K

Runs until

no end date published in this record

Type

contract

Read automatically from the title of the official record. The source document below is authoritative.

Committee

City Council/Public Finance and Economic Development Authority/Parking Authority

Introduced

February 21, 2023

On agenda

April 17, 2023

Passed

April 17, 2023