MEETING DATE:
MAY 28, 2024
SUBJECT:
Title
RESOLUTION NO. 2024-9292- ORDER THE PREPARATION OF AN ENGINEER’S REPORT FOR THE VALLECITOS TOWN CENTER STREET MAINTENANCE DISTRICT FOR THE FISCAL YEAR 2024-2025
Body
Recommendation
Recommendation
ADOPT a resolution ordering the preparation of an Engineer’s Report for the Vallecitos Town Center Street Maintenance District for the Fiscal Year 2024-2025.
Body
Board or Commission Action
Not Applicable
Relevant Council Strategic Theme
Quality of Life
Good Governance
Relevant Department Goal
Not Applicable
Executive Summary
In order to continue the assessment of taxes for districts formed under the Landscaping and Lighting Act of 1972 (“the Act”), the City is required to approve an engineer’s report. The Act requires an engineer’s report be prepared including information regarding the districts’ assessments for the following fiscal year.
Discussion
In October 1999, at the request of the property owners, the Vallecitos Town Center Street Maintenance District (“District”) was formed pursuant to the terms of the Act by Resolution 1999-5300. The purpose of this district is to provide yearly revenue from properties to mitigate for ongoing impacts of street maintenance costs along Center Drive and energy and maintenance costs of existing traffic signals within the district.
The Act requires the implementation of certain proceedings for any fiscal year in which any assessments are to be levied and collected within an existing assessment district formed under its provisions. As part of those proceedings, the City must request the preparation of an engineer’s report for review and approval by the governing body. The attached resolution authorizes the preparation of the report compliant with the Act.
Fiscal Impact
The Vallecitos Town Center Street Maintenance District is estimated to produce revenues sufficient to cover all expected and eligible expenses with no subsidy from the general fund for the Fiscal Year of 2024-2025. The renewal of district assessments will allow for the continued levy on annexed properties within the District. These funds are used to maintain street and signal improvements within the District.
Attachment(s)
Resolution
Vicinity Map
Prepared/Submitted by: Jeffrey Jorgenson, Senior Accountant
Reviewed by: Donna Apar, Finance Director
Approved by: Michelle Bender, City Manager