City Council Agenda Report
June 18, 2024
TO: Honorable City Council
FROM: Jesus M. Gomez, City Manager
BY: Jana Stuard, Director of Finance/City Treasurer
SUBJECT: ADOPTION OF JOINT TAX TRANSFER RESOLUTION FOR ARTESIA
CEMETERY DISTRICT, DOWNEY CEMETERY DISTRICT, AND LITTLE LAKE CEMETERY DISTRICT REORGANIZATION NO. 2021-03
Background:
The City received the attached letter from the County of Los Angeles Chief Executive Office requesting that the City Council, as governing body for the City of Norwalk and former Norwalk South-East Recreation and Park District, adopt a Joint Tax Transfer Resolution (Resolution) authorizing the negotiated exchange of property tax revenue between the County, the cities, and the Downey Cemetery District, Little Lake Cemetery District, and Artesia Cemetery District.
The Resolution provides tables that specify the tax rate areas and their corresponding annual tax increment ratios that will be transferred to each district for each fiscal year. The document also mentions the annexation of territory and the filing of a statement of boundary change for the Reorganization 2021-03 with the Board of Equalization. The area proposed for annexation is identified as Reorganization 2021-03 to reorganize approximately 81± acres of inhabited territory located in the Cities of Bell Gardens, Bellflower, Cerritos, Downey, La Mirada, Lakewood, Norwalk, Paramount, Santa Fe Springs, South Gate; and Los Angeles County unincorporated territory (South Whittier).
Section numbers 21, 34, 41 and 42 of the attached Resolution relate to the City of Norwalk as Norwalk South-East Recreation and Park District (SERPD) and to the City of Norwalk. The combined impact to the City’s property tax revenues is a loss of 0.002022501 in annual tax increment ratio, to the Downey Cemetery District and Little Lake Cemetery District. The following table summarizes the overall impact of each section.
City Council June 18, 2024
Joint Tax Transfer Resolution -Artesia, Downey and Little Lake Cemetery Districts – Reorganization No. 2021-03
Page No. 2
9 1
4 From To Net Annual Tax
Increment Ratio
Transfer
21. City of Norwalk SERPD Downey Cemetery District 0.000123473
34. Little Lake Cemetery
District
City of Norwalk SERPD 0.000215675
41. City of Norwalk Little Lake Cemetery District 0.000264636
42. City of Norwalk SERPD Little Lake Cemetery District 0.001850067 TOTAL IMPACT TO THE CITY -0.002022501
Fiscal Impact:
Reorganization No. 2021-03 and the tax transfers it includes will reduce the total City’s Annual Tax Increment Ratio by 0.002022501, which will have a minimal impact to the General Fund property tax revenues.
Citizens Advised:
N/A
Strategic Plan 2023 Implementation:
Ther recommended action will further the City’s Strategic Plan Goal 3: Create and sustain a resilient and economically prosperous City.
Recommended Action:
Staff recommends City Council adopt the JOINT TAX TRANSFER RESOLUTION FOR
ARTESIA CEMETERY DISTRICT, DOWNEY CEMETERY DISTRICT, AND LITTLE LAKE CEMETERY DISTRICT REORGANIZATION NO. 2021-03.
Attachments:
Joint Tax Transfer Resolution