AGENDA REPORT
REQUEST FOR CITY COUNCIL ACTION
DATE: 8/15/2018
TO: Honorable Mayor and City Council Members
FROM: Administrative Services Department
SUBJECT:
Title
City Council consideration to adopt Resolution No. 2018-101 declaring intention to establish proposed Community Facilities District No. 2018-2 (Sierra Bella) of the City of Corona and Resolution No. 2018-102 declaring necessity to incur a bonded indebtedness of proposed Community Facilities District No. 2018-2 (Sierra Bella) of the City of Corona; to amend purchase order number P20751 for Spicer Consulting Group and issue a new purchase order for CSG Advisors Incorporated.
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RECOMMENDED ACTION:
Recommended action
That the City Council:
1. Adopt Resolution No. 2018-101 declaring intention to establish proposed Community Facilities District No. 2018-2 (Sierra Bella) of the City of Corona.
2. Adopt Resolution No. 2018-102 declaring necessity to incur a bonded indebtedness of proposed Community Facilities District No. 2018-2 (Sierra Bella) of the City of Corona.
3. Authorize the Purchasing Manager to increase Purchase Order ("PO") P20751 in the amount of $20,000 for Spicer Consulting Group ("SCG") totaling PO to $238,350 .
4. Approve the Professional Services Agreement ("PSA") for financial advisory service with CSG Advisors Incorporated ("CSG"), in the amount of $12,000 as an exception to bidding pursuant to Corona Municipal Code (CMC) 3.08.140(e) and authorize the Purchasing Manager to issue a new PO to CSG.
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ANALYSIS:
The City was approached by CalAtlantic Group, Inc. a Delaware corporation (the "Developer") regarding the formation of a Community Facilities District (the "CFD") for the purpose of financing the public facilities and services which are necessary to meet increased demands placed upon the City as a result of the proposed development.
The proposed development, Sierra Bella Project (the "Project"), is located generally south of Green River Road, beyond Calle Del Or...
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