City of Stockton
Community Facilities District 2018-2
(Westlake Villages II)
City Council Meeting
January 11, 2022
Item 16.1
Prior Council Actions
On December 7, 2021, Council adopted a Resolution of
Consideration which began the process to:
Change the boundary map for Improvement Area 2 to
reduce the size of the improvement area
Create Improvement Areas 3 and 4 out of the existing
Improvement Area 2
Note: A smaller Improvement Area 2 will remain in place and the level of infrastructure taxes will not be impacted in this remaining improvement area
Establish a Rate and Method of Apportionment for the newly formed Improvement Areas 3 and 4, respectively
Establish a bonding capacity of $18.5 million and $90 million for Improvement Areas 3 and 4, respectively
Note: The bond capacity in the remaining Improvement
Area 2 will not change
Set a public hearing date of January 11, 2022
2 Original Boundary Map3
Tonight’s Election / Public Hearing
Tonight’s election is by landowners owning real property within the current Improvement Area 2 and are limited
to:
Changing the boundaries of the proposed area
Creating new improvement areas within the existing
boundary
Changing the tax rates within the new proposed
improvement areas
Changing the types of public facilities to be acquired within the proposed improvement areas
At the conclusion of tonight’s hearing, the City Clerk will announce the results of the election conducted by
hand delivered ballots
4 Proposed Changes for Consideration
Reduce the size of Improvement Area 2 to facilitate
the creation of a new Improvement Area 3 and a
new Improvement Area 4
Note: A smaller Improvement Area 2 will remain in
place and the level of infrastructure taxes will not
be impacted in this remaining improvement area
Increase special tax rates from $1,459 - $3,091 to
$2,552 -$3,531 per year in the new Improvement
Areas 3 and 4, respectively
Establish Bonding Capacities
$18.5 million for Improvement Area 3
$90.0 million for Improvement Area 4
Note: The bond capacity in the remaining
Improvement Area 2 will not change
5 Revised Boundary Map6
Fiscal Impact to the City
The proposed boundary changes, changes to the special tax rates and changes to the debt capacity for the existing Improvement Area No. 2 have no financial impact on the
City
Note: There is no change to the services tax to be collected each year as Special Tax B or to the transition event of Special Tax A that occurs once bonds are paid off and used for
ongoing maintenance of the public infrastructure
The revision to the existing debt capacity does not commit the City’s financial resources in any way. Debt service paid on any bonds eventually issued in the newly created
Improvement Areas will be made from special taxes
collected from properties within those improvement Areas 7 Staff Recommendation
Adopt the proposed attached Resolution ordering:
A Reduction to the boundaries of Improvement Area 2 and establishing a new Improvement Area 3 and a new
Improvement Area 4, as depicted in the revised map of CFD (Exhibit 1)
Approving the Rate and Method of Apportionment for
Improvement Area 3 and Improvement Area 4 (Exhibits 3 and 4)
Establishing the bonding capacity limit for Improvement Area 3 and Improvement Area 4 to be established at $18.5 million & $90 million, respectively
8