May 7, 2024
1 City Council Meeting
Item 8.1
CFD 16M (El Dorado Ridge)
Formation of CFD
Project Location
Otandfill
Sesame Place /
Amphitheatre
Village 3
Quarry
MSCP Preserve Area
Industrial
O River Valley / Preserve Area
Industrial / Residential
104 Townhomes, clustered to avoid sensitive species
El Dorado Ridge
O
Off-Site Preserve
Mitigation Monitoring and Reporting Program
(MMRP)
4-acre onsite and 5.5-acre offsite areas
TM condition requires developer to create
long-term funding source
CFD 16M provides the long-term funding
Open Space Maintenance
BUDGET – SPECIAL TAX
Maintenance and
Monitoring
Budget
On-site $40,798
Off-site $29,989
Administrative, Capital
Reserves,
Delinquencies,
Rounding Adjustment
$11,061
Total $81,848
Property
Type
Maximum Special
Tax
Per
Residential $787 Dwelling Unit
Undeveloped
Property
$13,262 Acre
CFD Budget and Special Tax
Previous Council Actions
March 19, 2024 - Council Meeting
Actions taken:
Resolution of Intention
Boundary Map
Levy of Special Tax (Rate and Method
of Apportionment)
Set Public Hearing – May 7, 2024
CFD Boundary Map
An election of the qualified electors of
CFD 16M was conducted regarding the
authorization to levy special taxes
within the CFD boundaries
Landowner Election
City Council Action
Conduct a public hearing
Canvass the ballots received
Declare the results of the
election
Tonight’s Council Action
RECOMMENDATION
Approve the following resolutions:
A) Establish CFD No. 16M (El Dorado Ridge)
B) Call for an election relating to the levy of a special tax and establishment of an appropriations limit within CFD 16M C) Declare the results of said election
D) Place an ordinance on first reading relating to the levy of a special tax within CFD 16M.