FROM:
Finance
SUBJECT:
Title
Adoption of Ordinance No. 1953 (Second Reading), authorizing the Levy of a Special Tax within Community Facilities District No. 114M (DR Horton Los Angeles Holding Company, Inc)
End
RECOMMENDATION:
Recommendation
Second Reading/Adopt Ordinance No. 1953 Authorizing the Levy of a Special Tax within Community Facilities District No. 114M.
End
COUNCIL GOALS:
• Invest in the City’s infrastructure (streets, sewers, parks, etc.) by improving the aesthetics of the community through code enforcement, street sweeping, and landscape maintenance.
• Practice sound fiscal management by developing long-term funding and debt management plans.
DISCUSSION:
Ordinance No. 1953 was introduced by a vote of 4-0 at the May 14, 2024, Regular City Council Meeting. The special tax levy will support the development of 85 residential units located at the intersection of Summit Avenue and Citrus Road.
FISCAL IMPACT:
None.
MOTION:
Approve staff recommendation.