REQUEST FOR CITY COUNCIL ACTION
DATE: 05/01/2024
TO: Honorable Mayor and City Council Members
FROM: Finance Department
SUBJECT:
Title
RESOLUTION DECLARING THE CITY'S INTENTION TO ANNEX TERRITORY TO COMMUNITY FACILITIES DISTRICT NO. 2016-3 (MAINTENANCE SERVICES) AND ADOPTING A MAP OF THE AREA PROPOSED TO BE ANNEXED THERETO (ANNEXATION NO. 38)
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EXECUTIVE SUMMARY:
This staff report asks the City Council to adopt a Resolution declaring its intention to annex territory to Community Facilities District No. 2016-3 (Maintenance Services). Certain development projects are required to form or annex into a maintenance district. In accordance with this requirement, IPT Corona Commerce Center, LLLC (Owner) is requesting annexation of Assessor's Parcel Numbers 118-330-002, 118-330-003, 118-330-015, and 118-330-016, into the City's Community Facilities District No. 2016-3 (Maintenance Services) to provide maintenance services for public facilities within and for the benefit of the proposed development.
RECOMMENDED ACTION:
Recommended action
That the City Council adopt Resolution No. 2024-024, declaring intention to annex territory to Community Facilities District No. 2016-3 (Maintenance Services) of the City of Corona, and adopting a map of the area proposed to be annexed thereto (Annexation No. 38).
Body
BACKGROUND & HISTORY:
On December 7, 2016, the City Council approved Resolution No. 2016-112, establishing Community Facilities District No. 2016-3 (Maintenance Services) of the City of Corona (CFD No. 2016-3 or District) for the purpose of levying special taxes on parcels of taxable property to provide certain services which are necessary to meet increased demands placed upon the City.
Certain development projects are required to form or annex into a maintenance district. These districts apply an annual fee or special tax upon properties within the district, which provides the revenue to offset the cost of maintenance of the public improvements nece...
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