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ITEM #14 CITY OF COLTON AGENDA REPORT FOR THE CITY COUNCIL MEETING OF DECEMBER 4, 2007 TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS FROM: AMER JAKHER, P.E., PW DIRECTOR / CITY ENGINEER SUBJECT: APPROVE RESOLUTION OF INTENTION TO FORM AN INFRASTRUCTURE FINANCING DISTRICT, SET A PUBLIC HEARING DATE FOR APRIL 15, 2008 AND IDENTIFY THE CITY ENGINEER AS THE DESIGNEE TO COMPLETE THE INFRASTRUCTURE PLAN. DATE: November 27, 2007 BACKGROUND: The state and federal governments have withdrawn in whole or in part from their former role in financing major, regional, or communitywide infrastructure, including highways and interchanges, sewage treatment and water reclamation works, water supply and treatment works, flood control and drainage works, schools, libraries, parks, parking facilities, open space, and seismic retrofit and rehabilitation of public facilities. Methods available to local agencies to finance public works often place an undue and unfair burden on developers, especially for public works that benefit the broader community. As a result, progress of undeveloped areas is stymied because of lack of basic infrastructure. The State Legislature has provided a vehicle called Infrastructure Financing Districts (IFD) that utilizes future incremental tax increases from identified properties to fund bonds that provide monies to improve infrastructure in the City. Cities and counties can create Infrastructure Financing Districts (IFDs) to pay for regional scale public works. IFDs can divert property tax increment revenues for 30 years to finance highways, transit, water systems, sewer projects, flood control, child care facilities, libraries, parks, and solid waste facilities. IFDs cannot be established to pay for maintenance, repairs, operating costs or services. ANALYSIS/DISCUSSION: Public Works staff has identified the parcels along the South side of Agua Mansa Road between Riverside Avenue and Rancho Avenue to fit the model for an IFD; Exhibit A identifies this area. The area identified by Exhibit A is lacking the following types of infrastructure improvements: water, sewer, electrical, roads and appurtences. The cost for a single property owner to provide the