For City Council Meeting [July 27, 2021]
TO: Honorable Mayor and City Council
APPROVAL Marcus Fuller, City Manager
FROM: Bob Chandler, Interim Finance Director
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Request City Council to Adopt the Following Resolutions Setting the Fiscal Year 2021-22 Special Tax Levies for Community Facilities Districts 2006-1, 2016-1, 87-1 and 87-2:
(1) Resolution No.7748 of The City Council of the City of Rialto, State of California, Community Facilities District 2006-1 (ELM PARK) Establishing Annual Special Tax for Fiscal Year 2021-22.
(2) Resolution No.7749 of The City Council of the City of Rialto, State of California, Community Facilities District 2016-1 (PUBLIC SERVICES) Establishing Annual Special Tax for Fiscal Year 2021-22.
(3) Resolution No.7750 of The City Council of the City of Rialto, State of California, Community Facilities District 87-1 (LAS COLINAS) Establishing Annual Special Tax for Fiscal Year 2021-22.
(4) Resolution No.7751 of The City Council of the City of Rialto, State of California, Community Facilities District 87-2 (LAS COLINAS) Establishing Annual Special Tax for Fiscal Year 2021-22.
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BACKGROUND
The Mello-Roos Community Facilities Act of 1982 permits cities to establish a Community Facilities District (CFD) that allows for financing the construction of various public improvements and the provision of additional public safety and other City services. On an annual basis, the special tax levy is calculated according to the applicable Rate and Method of Apportionment adopted at the formation of the Community Facilities District. Typically, these special taxes are billed through the County of jurisdiction and appear as separate line-item charges on the property tax billing. This financing mechanism allows new development to pay for significant public infrastructure and augmented public service needs over time.
The City of Rialto annually sets the special tax rates levied within Community Facilities Districts (CFDs) 2006-1 ...
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