Report to Mayor and City Council
Tuesday, March 16, 2021
Discussion
SUBJECT:
Title
CONSIDER THE FOLLOWING MATTERS RELATING TO THE ESTABLISHMENT OF THE CARSON ENHANCED INFRASTRUCTURE FINANCING DISTRICT (EIFD):
(1) ADOPTION OF RESOLUTION NO. 21-021 DECLARING INTENTION TO ESTABLISH THE CARSON EIFD TO FINANCE THE CONSTRUCTION, AND/OR ACQUISITION OF CAPITAL IMPROVEMENTS, THE REMEDIATION OF BROWNFIELDS AND THE PROVISION OF LOW- AND MODERATE-INCOME HOUSING; TO ESTABLISH A PUBLIC FINANCING AUTHORITY; AND AUTHORIZE CERTAIN OTHER ACTIONS RELATED THERETO;
(2) APPOINTMENT OF THE PUBLIC FINANCING AUTHORITY (PFA) MEMBERS FOR THE CARSON EIFD; AND
(3) ESTABLISHMENT OF A PUBLIC HEARING DATE PERTAINING TO THE CARSON EIFD AND THE DRAFT INFRASTRUCTURE FINANCING PLAN (CITY COUNCIL)
Body
I. SUMMARY
On December 3, 2019, the City adopted Resolution No. 19-192 declaring intention to establish the Carson Enhanced Infrastructure Financing District ("Carson EIFD") to finance the construction and/or acquisition and maintenance of capital improvements. On April 7, 2020, the City appointed members of the Public Financing Authority ("PFA") to serve as the governing board of the Carson EIFD. Subsequently, the County of Los Angeles ("County") expressed its interest in participating in the Carson EIFD and adopted a Resolution of Intention on November 24, 2020. The County also approved entering into a Memorandum of Agreement ("MOA") with the City to further indicate their intention to participate in the Carson EIFD. The County's participation in the Carson EIFD would require certain formation steps to be retaken including the adoption of an updated Resolution No. 21-021 ("ROI") (Exhibit No. 1). Furthermore, the County has to take final action on the formation of the EIFD after all required hearings are held. To initiate the Carson EIFD formation with the County's participation, the following legislative actions are summarized for Council's consideration and direction:
1. Resolution No. 21-02...
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