Report to Mayor and City Council
Tuesday, July 05, 2022
Consent
SUBJECT:
Title
CONSIDER THE FOLLOWING MATTERS RELATING TO THE ESTABLISHMENT OF THE CARSON ENHANCED INFRASTRUCTURE FINANCING DISTRICT (EIFD):
(1) ADOPTION OF RESOLUTION NO. 22-142 - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARSON, CALIFORNIA, APPROVING THE INFRASTRUCTURE FINANCING PLAN FOR THE CITY OF CARSON ENHANCED INFRASTRUCTURE FINANCING DISTRICT AND THE ALLOCATION OF THE CITY'S INCREMENTAL TAX REVENUE FROM THE PROJECT AREA PURSUANT TO GOVERNMENT CODE SECTION 53398.75 ET SEQ;
(2) ADOPTION OF RESULTION NO. 22-143 - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARSON, CALIFORNIA, APPROVING THE PUBLIC FINANCING AUTHORITY OF THE CITY OF CARSON ENHANCED INFRASTRUCTURE FINANCING DISTRICT AMENDED AND RESTATED BYLAWS (CITY COUNCIL)
Body
I. SUMMARY
On March 16, 2021, the City Council 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, and then- Mayor Pro Tem Dear, and Katie Pandolfo (public member) to serve on the Carson EIFD PFA. The County of Los Angeles ("County") subsequently appointed Ms. Caroline Torosis and Ms. Angela Reddock-Wright to the Carson EIFD PFA. After the appointments, the PFA held a series of meetings and public hearings to discuss EIFD formation matters. At the same time, City and County staff continued ongoing negotiations primarily on matters relating to the draft Infrastructure Financing Plan (IFP).
The Carson EIFD is expected to be fully formed by later this summer or early fall 2022. Once formed, the Carson EIFD would legally constitute as a local government entity separate and distinct from the City and th...
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