AgdaPkt 2013-06-03 Closed and Joint

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6.4.A. - Page 1 RE PO RT To the Honorable Mayor and City Council From the Cit Mana er June 3, 2013 SUBJECT Ordinance to allow Redwood Shores Community Facilities District to approve annual tax levy administratively without Council action. RECOMMENDATION Waive Second Reading and Adopt an Ordinance Amending Ordinance No. 2180 To Allow Redwood Shores Community Facilities District (CFD) To Approve Annual Tax Levy Administratively. BACKGROUND At the May 6, 2013 City Council Meeting an ordinance was introduced that would allow the Redwood Shores CFD's annual tax levy to be approved administratively. When the Redwood Shores CFD was established in 1999, a conservative approach was taken with staff including language in Ordinance No. 2180 that required the Council to approve the annual levy via Resolution. Since that time, the City has issued two other CFD bonds (Pacific Shores and One Marina) and included language in the initial respective ordinances that allows staff to set these rates administratively. ANALYSIS When these CFDs are formed the property owners approve a maximum annual levy. Provided that the annual levy falls under this maximum amount, these levies can be approved administratively without Council action. Therefore, in the interest of saving both City staff and Council time, staff recommends an amendment to Ordinance No. 2180 to allow the Redwood Shores CFD annual tax to be levied administratively without the need for Council action. ALTERNATIVES The Council could decide not to amend Ordinance No. 2180 and instead require that City staff return to the Council annually to adopt the CFD tax levy, requiring additional expenditures of Council and staff time. FISCAL IMPACT No direct fiscal impact associated with this change other than Council and staff time saved.