pages: CityCouncil/2016-10-04.pdf, 6
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CityCouncil | 2016-10-04 | 6 | Vice Mayor Matarrese inquired whether the ordinance has a sunset. The Base Reuse Director responded the CFD would continue as it provides financing for services. Councilmember Oddie inquired if the Council is not creating a CFD today, to which the Base Reuse Director responded in the affirmative; stated staff will come back with the formation of the CFD's. Councilmember Oddie inquired if the Council would vote to create the CFD's. Councilmember Ezzy Ashcraft inquired if the process would be the same as what was done for Alameda Landing. Paul Thimmig, Outside Counsel, responded under the ordinance there is a lot of flexibility; stated the Council as property owner would vote where to convey the property to a private party; the City does have the power to vote in the tax. Councilmember Oddie inquired how the tax compares to a Mello-Roos. Mr. Thimming responded a CFD is similar to a Mello-Roos, only it is done under Charter powers instead of State law. Councilmember Daysog inquired whether the initial property owner would vote in the tax. Mr. Thimming responded there are less than 12 registered owners in the territory of the District; stated the vote is of landowners; there is a required recordation of a lien on the property; real estate law requires disclosure; the homeowners are aware of the additional tax. Councilmember Daysog stated dedicating money to the transit system is an exciting idea. Mr. Thimming stated the tax is supported by a lien on real property; the revenue flow is more secure. Mayor Spencer inquired if the tax is relating to Site A The Base Reuse Director responded the tax will apply to all of Alameda Point. Mayor Spencer inquired how the schools are being financed. The Base Reuse Director responded schools are paid for through property tax; every residential or commercial development has to pay a school impact fee. Regular Meeting Alameda City Council October 4, 2016 | CityCouncil/2016-10-04.pdf |