Title
a. Consider approval of an Infrastructure Financing Plan and Memorandum of Agreement with the City of Gonzales authorizing the County's joint participation in the proposed City of Gonzales Enhanced Infrastructure Financing District No. 1, which would finance infrastructure development within the existing City of Gonzales Agricultural Industrial Business Park
b. Authorize the County Administrative Officer, or his designee, to execute the Memorandum of Agreement on behalf of the County;
c. Finding that the County's participation in the City of Gonzales Enhanced Infrastructure Financing District No. 1 is not a project within the meaning of the California Environmental Quality Act.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Consider approval of an Infrastructure Financing Plan and Memorandum of Agreement with the City of Gonzales authorizing the County's joint participation in the proposed City of Gonzales Enhanced Infrastructure Financing District No. 1, which would finance infrastructure development within the existing City of Gonzales Agricultural Industrial Business Park
b. Authorize the County Administrative Officer, or his designee, to execute the Memorandum of Agreement on behalf of the County;
c. Finding that the County's participation in the City of Gonzales Enhanced Infrastructure Financing District No. 1 is not a project within the meaning of the California Environmental Quality Act.
SUMMARY:
Enhanced Infrastructure Financing Districts (EIFD) were introduced by the passage of SB 628 (Beall and Wolk) in 2014. , As codified (at California Government Code section 53398.50, et seq.), SB 628 authorizes local agencies to create an EIFD within a specific geographic to finance specified infrastructure projects and facilities. If approved, the Gonzales EIFD would be the first EIFD created in the County of Monterey. By devoting future property tax increment to infrastructure development within the City of Gonzales Agricultu...
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