2008 RES R-108-08 - Laserfiche WebLink

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i i s 4 5 6 7 8 9 10 11 12 IS 14 IS 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. R-108-08 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON EXPRESSING THE CITY COUNCIL'S SUPPORT FOR SENATE BILL 1335 (NEGRETE-MCLEOD), WHICH WOULD SIMPLIFY THE PROCESS REQUIRED TO FORM AN INFRASTRUCTURE FINANCE DISTRICT IN THE AGUA MANSA AREA OF THE CITY OF COLTON BY ELIMIINATING THE VOTER / PROPERTY OWNER APPROVAL TO FORM THE DISTRICT, ISSUE DEBT IN THE DISTRICT, AND REVISE THE DEBT CEILING FOR THE DISTRICT WHEREAS, Significant regional infrastructure is required in the area north and south of the Santa Ana River area in order to promote the significant economic development that Colton requires; and WHEREAS, the area requires road, water, and sewer improvements to facilitate development in the Agua Mansa area as well as the Pellisier Ranch Specific Plan area; the properties located north of Agua Mansa are essentially undevelopable and will generate no resources to construct regional infrastructure; and WHEREAS, An Infrastructure Finance District does not impose new taxes on property owners; similar to a Redevelopment Project Area, an IFD freezes the assessed valuations in a baseline year and then allows the IFD to receive tax increment increases that occur as a result of new development; and WHEREAS, property owners throughout the Agua Mansa area have expressed support of the city's effort to form the Infrastructure Finance District and the plans to deliver regional infrastructure; and WHEREAS, the County of San Bernardino supports the City's efforts to form the Infrastructure Finance District NOW, THEREFORE, BE IT RESOLVED THAT: THE CITY COUNCIL HEREBY DECLARE AND RESOLVE THAT SENATE BILL 1335 IS NECESSARY FOR THE FUTURE ECONOMIC WELL BEING OF THE CITY OF COLTON • Since no new taxes are being imposed upon the property owners, the City of Colton supports the legislature's position that a property owner vote is not substantiated.; and; I