Report to Mayor and City Council
Tuesday, May 18, 2021
Consent
SUBJECT:
Title
CONSIDER THE FOLLOWING MATTERS RELATING TO THE ESTABLISHMENT OF THE CARSON ENHANCED INFRASTRUCTURE FINANCING DISTRICT (EIFD): (1) APPROVAL OF THE PUBLIC FINANCING AUTHORITY (PFA) BYLAWS; AND (2) RE-ESTABLISHMENT OF A PUBLIC HEARING DATE PERTAINING TO THE DRAFT INFRASTRUCTURE FINANCING PLAN (CITY COUNCIL)
Body
I. SUMMARY
On March 16, 2021, the City adopted Resolution No. 21-026 declaring intention to establish the City of Carson Enhanced Infrastructure Financing District ("Carson EIFD") to finance the construction and/or acquisition and maintenance of capital improvements, remediation of brownfields, and provision of low- and moderate-income housing. As a result, the Public Financing Authority (PFA) was established. The City appointed Mayor Davis-Holmes, Mayor Pro-Tem Dear, and Katie Pandolfo (public member) to serve on the Carson EIFD PFA. To date, the County of Los Angeles ("County") has not yet appointed its two PFA members to the Carson EIFD. City Staff continue to work with County staff to effectuate these appointments.
The Carson EIFD is expected to be fully formed by the end of this calendar year. Once formed, the Carson EIFD would legally constitute as a local government entity separate and distinct from the City and the County, subject to the Ralph M. Brown Act (open meeting laws), as well as the California Public Records Act and Political Reform Act of 1974. This action is to consider and approve the PFA bylaws ("Exhibit No. 1") that will govern operation of the Carson EIFD and its PFA. In summary, the PFA bylaws establish rules pertaining to PFA membership role, meetings, officer duties, election procedures, vacancies, approval authority and other related matters. County staff has reviewed and provided comments on the bylaws in advance of tonight's meeting. The bylaws will be presented to the PFA on June 14th for approval following the approval by the City Council. Any...
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