September 9, 2025
1 City Council Meeting
Item 7.1
Formation of CFD 2024-2
(Moss Street)
Project Location
Sesame Place /
Amphitheatre
Village 3
Quarry
MSCP Preserve Area
Industrial
O River Valley / Preserve Area
Industrial / Residential
676 Moss
Street
Former
Industrial
Warehouse
Site
224
Costas Project
97 3-story court townhomes and 44 3-story row townhomes Each unit will have 2- to 4-bedrooms, and all units will have 2.5 bathrooms The project will include 348 parking spaces and a recreation area O
Background
Developer requested formation
of a CFD to finance
Development Impact Fees
O
Net Fees to be Financed
Developer Requested Sweetwater Authority Water Capacity Fee be Included in Funding Authority – If Sweetwater Authority Approves, a Separate Agreement will be Provided for City Council Consideration Assigned Special Tax
A
Special Tax Rates
Building Square Footage Special Tax
<1,201 $3,280
1,201 to 1,475 3,345
1,476 to 1,675 4,128
1,676 to 1,825 4,362
1,826 to 1,925 4,585
>1,925 4,763
Previous Council Actions
July 22, 2025 - Council Meeting
Actions taken:
Approved Resolution of Intention
to Form CFD
Adopted Boundary Map
Approved Rate and Method of
Apportionment of Special Taxes
Set Public Hearing for September 9, 2025
An election of the qualified electors of
CFD 2024-2 (Moss Street) was called
and ballot distributed regarding the
authorization to levy special taxes
within the CFD boundaries
Landowner Election
Recommended City Council Action
Conduct a public hearing
Approve Resolutions:
Resolution of Formation
of the CFD
Resolution of Necessity to
Incur Bonded Indebtedness
Resolution Calling Special Election
Recommendations
Recommended City Council Action
Conduct election
Canvass the ballot received
Adopt Resolution declaring results
of the election
Introduce Ordinance Levying Special
Taxes for First Reading
Adopt Resolution approving
Acquisition/Financing Agreement
Recommendations