REPORT TO COUNCIL
SUBJECT
Title
Action on a Reimbursement Agreement for Formation of a Community Facilities District in the Tasman East Specific Plan Area and Related Budget Amendment [Council Pillar: Promote and Enhance Economic, Housing and Transportation Development]
Report
BACKGROUND
The Tasman East Specific Plan supports the development of a new mixed-use residential neighborhood in the Tasman East area on the north of Tasman Drive between Lafayette Street and the Guadalupe River. The Specific Plan supports the development of up to 4,500 dwelling units at urban densities. One feature of the Specific Plan is the proposed extension of an existing street, Calle del Sol, northward to act as a "main street" through the middle of the new urban neighborhood. The City is in the process of evaluating a modification of the Specific Plan to treat the extension of Calle del Sol as a pedestrian and bicycle paseo, rather than as a neighborhood street as currently envisioned. Developing this portion of Calle del Sol as a paseo, rather than a street, would allow the City to retain an existing sewer pump station at its current location, integrating it into the design of the proposed paseo.
The Developers within the Tasman East Specific Plan Area have requested that the City initiate proceedings to establish a community facilities district ("CFD") under the Mello-Roos Community Facilities Act to provide funding for certain public services for the proposed Calle del Sol pedestrian and bicycle paseo in the Tasman East Specific Plan Area. In order to prepare necessary documents for the formation process, and to calculate the amount of a special tax to fund the district services, the City is proposing to hire two outside consultants: Jones, Hall as legal counsel and Goodwin Consulting Group as special tax counsel. Jones, Hall and Goodwin Consulting were the City's consultants when the City established Community Facilities District No. 2010-1 for Levi's Stadium and Commun...
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