February 4, 2025
TO: City Council
REQUESTED BY: Erika Gomez, Finance Director
APPROVED BY: Robert A. Johnson, City Manager
SUBJECT: CFD 2020-1 Annexation 11 - Lennar T38202 ROI 4057 RECOMMENDATION:
Staff recommends that the City Council adopt Resolution No. 4057, Resolution of Intention to Annex Territory, commonly known as Lennar's Canterwood Tract 38202, into Community Facilities District No. 2020-1, and Authorize the Levy of Special Taxes therein.
DISCUSSION:
The City Council and Planning Commission previously identified the need for a financing mechanism to address maintenance and services associated with improvements resulting from new development within the City.
In response, the City Council formed Community Facilities District 2020-1 (the "CFD") and approved the levy of special taxes therein. The CFD provides funding for services including, but not limited to: maintenance of landscaped areas, parkways, and median improvements throughout the CFD, and maintenance and servicing of streetlights, traffic signals, and appurtenant facilities (the "Services"). The City levies taxes on eligible parcels within the CFD to mitigate the added cost of providing the Services to new development.
The property owner(s) have submitted a Petition to annex into the CFD. Adoption of the Resolution of Intention is required to annex the territory into the CFD. The Resolution of Intention approves the annexation boundaries, commonly known as the site of Lennar Homes’ Canterwood Residential Development (181 SFR units) located north of Cottonwood Avenue, west of Marilyn Drive, east of N Lyon Avenue, and south of Monte Vista Middle School, and sets the Public Hearing date for March 18, 2025, during a regularly scheduled meeting of the City Council.
A ballot will be mailed to the property owner(s) within the annexation territory to vote for or against the annexation.
FISCAL IMPACT:
The annexation of this territory into the CFD will assist in mitigating the cost of providing the Services. Based on estimates from the Fiscal Year 2024/2025, it is anticipated that the CFD will collect $192,403 in special tax revenue based on the full project buildout. There is no contingent special tax for this project.
ATTACHMENTS:
CFD 2020-1 Annex 11- Resolution of Intention 4057
CFD 2020-1 Annex 11 - Boundary Map