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7.A. - Page 14 of 25 <br />BACKGROUND <br />At its October 26, 2020 Council meeting the owners of Seaport Centre and Seaport Plaza petitioned the <br />City to establish a community facilities district. At that meeting the Council adopted a resolution of <br />intention to establish the City of Redwood City Community Facilities District No. 2020-1 (Seaport <br />Centre/Seaport Plaza) and a resolution of intention to incur bonded indebtedness and other debt, and set <br />November 23, 2020 for a public hearing on this matter. The staff report for the October 26, 2020 council <br />meeting, which has more detailed background information, is attached. <br />ANALYSIS <br />Public Hearing <br />The Council is required by its Special Tax Financing Law (Chapter 32, Article XIII of the Redwood City <br />Municipal Code) ("CFD Law") to hold a public hearing on this matter at which members of the public may <br />express concerns about, or provide support for, the establishment of the CFD, the levy of special taxes <br />and the proposed issuance of indebtedness payable from the special taxes. At the conclusion of the public <br />hearing the Council may adopt resolutions to form the CFD, to levy the special taxes on properties in the <br />CFD, to declare the necessity to incur bonded indebtedness and other debt secured by such special taxes <br />and to call for a CFD property owner special election. <br />The attached Community Facilities District Report describes the public facilities and services that will be <br />financed by the CFD and estimates the cost of providing those public facilities and services. <br />Election and Vote Tabulation <br />The landowners in the proposed CFD have unanimously waived the 90 -day waiting requirement in the <br />CFD Law for the period between adoption of a resolution calling for a CFD special election and the election, <br />and have submitted their ballots for tabulation this evening. <br />Declare Election Results; Levy of Special Taxes <br />After tabulation of votes by the City Clerk the Council may adopt a resolution declaring the results of the <br />elections and introduce an ordinance levying special taxes in the CFD (Special Tax Ordinance). <br />Next Steps <br />1. At its December 21, 2020 meeting the Council will be asked to adopt Special Tax Ordinance. <br />2. At its December 21, 2020 meeting, the City Council may adopt a resolution of intention to dissolve <br />the Maintenance District and fix a time for a noticed public hearing. <br />3. At its January 11, 2021 meeting, the Council will hold the public hearing and pass upon any protests <br />and objections and, at the conclusion of the public hearing, the Council may adopt a resolution <br />ordering the dissolution of the Maintenance District. <br />Page 2 of 5 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />190 <br />