MEETING DATE:
MAY 26, 2026
SUBJECT:
Title
RESOLUTION NO. 2026-9598 - APPROVING AMENDMENT 01 TO THE COMMUNITY FACILITIES DISTRICT FUNDING AGREEMENT WITH URBAN VILLAGES SAN MARCOS, LLC (AGREEMENT 6999)
Body
Recommendation
Recommendation
ADOPT a resolution approving an amendment to the Community Facilities District Funding Agreement with Urban Villages San Marcos, LLC ("UVSM").
Body
Board or Commission Action
Not Applicable
Relevant Council Strategic Theme
Good Governance
Relevant Department Goal
Not Applicable
Executive Summary
In 2022, pursuant to Resolution 2022-9066, the City entered into a Community Facilities District ("CFD") Funding Agreement ("Agreement") with UVSM providing for reimbursement of eligible bridge construction costs using CFD 2011-01 Congestion Management special tax revenues generated within the University District Specific Plan area. The agreement was approved via Resolution 2022-9066.
The proposed amendment seeks to clarify the applicable reimbursement area and the parcels from which CFD special tax revenues may be utilized for reimbursement purposes. The pedestrian bridge serves and benefits the entire University District Specific Plan area by improving pedestrian circulation and reducing congestion impacts throughout the area. The Agreement and proposed Amendment are consistent with the intent and authorized use of the CFD, which was established to fund congestion management improvements associated with new development.
The proposed amendment does not modify the overall reimbursement obligation, repayment terms, or eligible project costs established in the original agreement.
Discussion
In 2011, the City established Community Facilities District 2011-01, referred to as the Congestion Management Fund ("CFD"). The CFD imposes a special tax on new development throughout the City occurring after 2011. Special tax revenues generated by the CFD are to be used for equipment, services, and facilities that reduce traffic co...
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