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7. STAFF REPORTS Page 183 <br />7.A. Consideration of a Levee Financing and Improvement Agreement and <br />formation of a Seaport Centre/Seaport Plaza Community Facilities District for <br />Purposes of improving and expanding the levee system at Seaport Peninsula <br />Recommendation: <br />1. Adopt a resolution of the City Council of the City of Redwood City approving <br />amended and restated statement of local goals and policies for community <br />facilities districts; <br />2. Adopt a resolution of the City Council of the City of Redwood City approving a <br />Levee Financing and Improvement Agreement among the City of Redwood City, <br />HCP LS Redwood City, LLC, Metropolitan Life Insurance Company and Seaport <br />Centre Owners' Association for the improvement and expansion of the levee <br />system at Seaport Peninsula and finding this action is not subject to and is <br />exempt from the California Environmental Quality Act; <br />3. Adopt a resolution of the City Council of the City of Redwood City declaring <br />its intention to establish the City of Redwood City Community Facilities District <br />No. 2020-1 (Seaport Centre/Seaport Plaza), and approving related documents <br />and actions; and <br />4. Adopt a resolution of the City Council of the City of Redwood City declaring <br />its intention to incur bonded indebtedness and other debt payable from special <br />taxes levied in the City of Redwood City Community Facilities District No. 2020-1 <br />(Seaport Centre/Seaport Plaza). <br />CEQA: <br />Categorically Exempt - Class 1. Existing Facilities <br />7.13. Amendment No. 3 to the City's Financing Agreement in connection with a <br />Water Infrastructure Finance and Innovation Act loan ("WIFIA Loan") by and <br />between Silicon Valley Clean Water and the United States Environmental <br />Protection Agency ("EPA") <br />Recommendation: <br />Adopt a resolution authorizing the third amendment of a financing agreement <br />with Silicon Valley Clean Water to implement a reduced interest rate on an <br />existing WIFIA loan from the Environmental Protection Agency. <br />CEQA: <br />This is not a project under California Environmental Quality Act (CEQA) <br />Page 5 of 7 <br />5 <br />