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PRIOR RELATED ACTIONS <br />In order to build and maintain new levees in compliance with <br />federal standards, the City approved a levee improvement <br />acquisition agreement <br />Property owners will improve and extend the Seaport Centre <br />levee and construct the Seaport Plaza levee, and the City will <br />acquire the improvements <br />Levee improvements will remove a Special Flood Hazard <br />designation <br />On October 26, the City called for a public hearing on formation <br />of a CFD, incurrence of indebtedness and levy of special taxes <br />There is no general fund exposure to any costs associated with <br />the levee acquisition or the CFD formation <br />Redwood <br />5 of C city �,��» <br />