REQUEST FOR CITY COUNCIL ACTION
DATE: 09/20/2023
TO: Honorable Mayor and City Council Members
FROM: Finance Department
SUBJECT:
Title
RESOLUTION DECLARING INTENTION TO ANNEX TERRITORY TO COMMUNITY FACILITIES DISTRICT NO. 2018-1 (BEDFORD), ADOPTING A MAP OF THE AREA PROPOSED TO BE ANNEXED THERETO (ANNEXATION NO. 1), RESOLUTION OF CONSIDERATION OF CHANGE PROCEEDINGS, AND RESOLUTION DECLARING NECESSITY OF CHANGE PROCEEDINGS
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EXECUTIVE SUMMARY:
This staff report asks the City Council to adopt a Resolution declaring intention to annex territory to Community Facilities District No. 2018-1 (Bedford) ("CFD" or "CFD No. 2018-1"). Arantine Hills Holdings L.P. ("Owner") is requesting annexation of Assessor's Parcel Numbers 279-240-049 and 282-040-021 into the CFD No. 2018-1 (Bedford). Additionally, adopt a Resolution of consideration of change proceedings and adopt a Resolution declaring necessity of change proceedings.
RECOMMENDED ACTION:
Recommended action
That the City Council:
a. Adopt Resolution No. 2023-094, declaring intention to annex territory to CFD No. 2018-1 (Bedford) of the City of Corona, and adopting a map of the area proposed to be annexed thereto (Annexation No. 1).
b. Adopt Resolution No. 2023-097, determining that the public convenience and necessity require the amount of authorized bonded indebtedness of CFD No. 2018-1 (Bedford) to be incurred for Improvement Area No. 3 be increased and that the Rate and Method of Apportionment of Special Tax for Improvement Area No. 3 and Improvement Area No. 4 be revised.
c. Adopt Resolution No. 2023-098, declaring necessity for CFD No. 2018-1 (Bedford) of the City of Corona to incur bonded indebtedness in an increased amount for Improvement Area No. 3 of the Community Facilities District.
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BACKGROUND & HISTORY:
On June 20, 2018, the City Council established the CFD, and designated five improvement areas therein, for the purpose of levying special taxes on parcels of taxable property t...
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