For City Council Meeting [August 9, 2022]
TO: Honorable Mayor and City Council
APPROVAL: Marcus Fuller, City Manager
FROM: Marcus Fuller, City Manager/Acting City Engineer
Title
Request City Council to: (1) Accept Petition from the Property Owner to Consider Modification of City Of Rialto Community Facilities District No. 2020-1 (El Rancho Verde); (2) Adopt Resolution No. 7953.Resolution Of Consideration Of The City Council Of The City Of Rialto, California, Acting As The Legislative Body Of The City Of Rialto Community Facilities District No. 2020-1 (El Rancho Verde), Declaring Its Intention To Modify The Rate And Method Of Apportionment Of The Special Tax Relating To Said Community Facilities District, Eliminate The Designation Of Improvement Areas, Remove Territory From The Boundaries Of The Community Facilities District, Increase The Special Tax Rates, Increase The Maximum Bonded Indebtedness, And Revise The Appropriations Limit Of Said Community Facilities District, And Other Related Actions In Connection Thereto; and (3) Set a Public Hearing for September 13, 2022.
Body
BACKGROUND
The Project and the Pre-Annexation and Development Agreement
In August 2012, the City entered into a Pre-Annexation and Development Agreement ("Development Agreement") with Lytle Development Company, El Rancho Verde Golf, LLC and Pharris Sycamore Flats LLC ("Lytle Creek") that provides for a master planned development, known as the Lytle Creek Ranch. The development consists of approximately 2,447 acres with planned land uses including, but not limited to, 8,407 residential units, 849,420 square feet of industrial and commercial land uses, 21 acres of neighborhood parks, 23.5 acres of Paseo's and greenbelts, a 35.7 acre Sports Park, 27.2 acres of linear open space/recreation land, trails and walkways, 900 acres of natural open space preserved in perpetuity, public schools, public streets and walkways and other amenities that are of benefit to the development and the City. ...
Click here for full text