RESOLUTION NO. 2026-XXXX
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS APPROVING AMENDMENT #1 TO THE COMMUNITY FACILITIES DISTRICT FUNDING AGREEMENT WITH URBAN VILLAGES SAN MARCOS, LLC (CONTRACT 6999).
WHEREAS, in 2011, the City of San Marcos (“City”) established Community Facilities District No. 2011-01 (“CFD”) for the purpose of funding congestion management improvements associated with new development within the City; and WHEREAS, Urban Villages San Marcos, LLC (“UVSM”) constructed a pedestrian bridge over Barham Road connecting North City to the campus of California State University San Marcos (“CSUSM”) to reduce congestion impacts associated with pedestrian crossings along Barham Road; and WHEREAS, on September 13, 2022, the City Council approved Resolution 2022-9066 which established a Community Facilities District Funding Agreement (“Agreement”) with UVSM and North City University One, LLC providing for reimbursement to UVSM of pedestrian bridge construction costs from CFD revenues generated within the University District Specific Plan area; and WHEREAS, the City and UVSM desire to enter into the First Amendment to the Agreement to remove UVSM ownership and/or beneficial interest as criteria relative to the parcels from which applicable CFD revenues may be utilized for reimbursement purposes; and WHEREAS, the City finds that the pedestrian bridge provides circulation and congestion management benefits to the broader North City and University District Specific Plan area, CSUSM, and the public in general, and that the proposed clarification remains consistent with the intent and authorized use of CFD proceeds, and that the proposed First Amendment to the Agreement will also serve to reduce the interest payable on the reimbursement obligation.
NOW, THEREFORE, BE IT RESOLVED, the City Council hereby approves the First Amendment to the Community Facilities District Funding Agreement (#6999) between the City of San Marcos, Urban Villages San Marcos, LLC, attached hereto as Exhibit A and incorporated herein by reference, and authorizes the City Manager to negotiate, finalize, and execute the amendment documents.
PASSED, APPROVED, and ADOPTED by the City Council of the City of San Marcos, California, on the 26th of May, 2026, by the following vote:
AYES: COUNCIL MEMBERS:
NOES: COUNCIL MEMBERS:
ABSENT: COUNCIL MEMBERS:
Rebecca D. Jones, Mayor
City of San Marcos
ATTEST:
Phillip Scollick, City Clerk
City of San Marcos
Resolution No. 2026- XXXX