RESOLUTION R2022-___
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NAPA, STATE CALIFORNIA, APPROVING THE INFRASTRUCTURE FINANCING PLAN FOR THE CITY OF NAPA ENHANCED INFRASTRUCTURE FINANCING DISTRICT, THE FORMATION OF SUCH DISTRICT AND THE ALLOCATION OF THE CITY’S INCREMENTAL TAX REVENUE GENERATED IN SUCH DISTRICT WHEREAS, the California Legislature enacted Chapter 2.99 of Part 1 of Division 2 of Title 5 of the California Government Code, commencing with section 53398.50 (EIFD Law) authorizing cities to designate enhanced infrastructure financing districts (EIFDs) and authorizing EIFDs to use specified property tax increment revenue generated within their boundaries to finance certain public facilities and projects of communitywide significance that provide significant benefits to the EIFDs or the surrounding community; and WHEREAS, in enacting the EIFD Law, the California Legislature found and declared that with the dissolution of redevelopment agencies, public benefits will accrue, if local agencies finance certain public facilities and projects authorized under the EIFD Law; and WHEREAS, the City Council has determined that it will be beneficial to the City of Napa (City) to form the Napa Enhanced Infrastructure Financing District (Napa EIFD); and WHEREAS, by Resolution No. R2021-076 (Resolution of Intention), the City Council has: (1) stated its intention to cause the establishment of the Napa EIFD under the EIFD Law; (2) identified the boundaries of the proposed Napa EIFD; (3) identified the types of public capital facilities and other projects of communitywide significance proposed to be financed or assisted by the proposed Napa EIFD; (4) described the need for the proposed Napa EIFD and the goals that the City intended to achieve by proposing establishment of the Napa EIFD; (5) confirmed that incremental property tax revenue from the City may be used to finance those facilities described in an infrastructure financing plan for the Napa EIFD (IFP) that has been approved by the City Council after the City Council has held a noticed public hearing; and (6) set a time and place for a public hearing for the City Council to consider adoption of a resolution approving the IFP and the proposed formation of the Napa EIFD; and WHEREAS, by Resolution No. R2021-077, the City Council established the Public Financing Authority of the Napa Enhanced Infrastructure Financing District (PFA), which is the legislative body for the Napa EIFD; and WHEREAS, pursuant to the EIFD Law, an IFP has been developed for the Napa EIFD which defines the boundaries of the Napa EIFD, identifies the public facilities and improvements to be financed with assistance from the Napa EIFD, and a plan for using tax increment generated in the Napa EIFD to finance the public facilities and improvements to be assisted by the Nap EIFD, including the issuance of bonds and other debt; and WHEREAS, the EIFD Law provides for the PFA to hold three public hearings to consider adoption of the IFP, after which it may adopt a resolution proposing adoption of the IFP and formation of the Napa EIFD; before the PFA may adopt this resolution, the City Council, as the governing body of the only entity allocating tax increment revenue to the Napa EIFD, must hold a public hearing and adopt a resolution approving the IFP and file the resolution with the Napa PFA; and WHEREAS, in the Resolution of Intention, the City Council called a public hearing for December 7, 2021, to consider the adoption of a resolution approving the IFP and the proposed formation of the Napa EIFD; and WHEREAS, pursuant to advice from City Staff, the City Council delayed the public hearing to give City Staff and its consultants more time to prepare the IFP; and WHEREAS, the City Clerk caused notice of a public hearing for this date to be published in the Napa Valley Register, and the public hearing describes the City Council’s intent to consider adoption of a resolution approving the IFP and the proposed formation of the Napa EIFD; and WHEREAS, on this date, the City Council held the noticed public hearing and, at the hearing, all interested persons desiring to be heard on all matters pertaining the approval of the IFP and the proposed formation of the Napa EIFD were heard and a full and fair hearing was held; and WHERAS, the City Council has considered all information related to the approval of the IFP and the proposed formation of the Napa EIFD, as presented at the public meetings of the City Council identified herein, including any supporting reports by City Staff and any information provided during public meetings, and the City Council, at the conclusion of the public hearing, is fully informed about the such matters; and WHEREAS, all legal prerequisites to the adoption of this Resolution have occurred.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Napa as follows:
The City Council hereby finds that the facts set forth in the recitals to this Resolution are true and correct, and establish the factual basis for the City Council’s adoption of this Resolution.
Pursuant to Section 53398.68 of the EIFD Law, the City Council hereby approves the IFP for the Napa EIFD in substantial conformance with the form attached hereto as Exhibit A and incorporated herein by reference.
The City Council hereby approves the allocation to the Napa EIFD of the City’s tax increment revenue generated within the boundaries of the Napa EIFD pursuant to Government Code Section 53398.75, subject to compliance by the Napa EIFD and the PFA with the IFP for the Napa EIFD. As set forth in the IFP, the City’s allocation of tax increment is contingent upon the PFA’s use of such increment for authorized purposes, and the City Council has reserved the right to approve any bonds, notes, agreements or contractual obligations of the Napa EIFD that are payable from such tax increment.
The City Council hereby acknowledges that the County-Auditor Controller will calculate the City’s tax increment to be allocated to the Napa EIFD in accordance with Section 53398.75(b).
This Resolution shall take effect immediately upon its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the City Council of the City of Napa at a public meeting of said City Council held on the 1st day of March, 2022, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST:
Tiffany Carranza
City Clerk
Approved as to form:
_
Michael W. Barrett
City Attorney
538312.1.
R2022-__ Page 1 of 4 March 1, 2022
R20XX-XX Page 1 of 4 July 20, 2021
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