Title
a. Receive an update regarding the Fort Ord Reuse Authority's proposal to issue a bond against its statutory share of property tax revenue for building removal in the former Fort Ord area;
b. Receive cost estimates for removing remaining structures on County properties in the former Fort Ord;
c. Consider making a recommendation to the Board of Supervisors; and
d. Provide direction to staff.
Report
RECOMMENDATION:
It is recommended that the Fort Ord Committee:
a. Receive an update regarding the Fort Ord Reuse Authority's proposal to issue a bond against its statutory share of property tax revenue for building removal in the former Fort Ord area;
b. Receive cost estimates for removing remaining structures on County properties in the former Fort Ord;
c. Consider making a recommendation to the Board of Supervisors; and
d. Provide direction to staff.
SUMMARY/DISCUSSION
In December 2019, the Fort Ord Reuse Authority (FORA) authorized issuance of up to $50 million in bonds to fund building removal on the former Fort Ord. FORA has filed a validation action for the proposed bond issuance; the public response period ends March 9, 2020. The FORA Administrative Committee scheduled a Special Meeting on February 24, 2020, at 8:30 a.m., to discuss the FORA bond issuance and begin negotiating terms for interjurisdictional agreement(s) needed, should FORA issue bonds.
FORA staff previously provided cost estimates of approximately $2.24 million to conduct building removal on County lands. The Fort Ord Committee held a special meeting on October 1, 2019, to locations where County (and Successor Agency) have remaining buildings/structures that may benefit from funding derived if FORA issues a bond. Based on discussions by the Committee and further consideration by staff, the Resource Management Agency (RMA) developed its own cost estimates to demolish the remaining buildings on County lands in the former Fort Ord. Attachment A provides maps of the sites that were ev...
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