Title
a. Approve and authorize the Chair of the Board of Supervisors to execute a Joint Community Facilities Agreement by and between the Fort Ord Reuse Authority (FORA) and the County of Monterey regarding transfer of FORA Community Facilities District (CFD) funds for habitat management; and
b. Authorize and direct the Auditor-Controller (ACO) to deposit funds for the habitat management FORA CFD, estimated at $13.58 million, in a Fund and/or Account to be determined by the ACO that allows for the accrual of interest earnings at the County investment pooled interest rate.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Approve and authorize the Chair of the Board of Supervisors to execute a Joint Community Facilities Agreement by and between the Fort Ord Reuse Authority (FORA) and the County of Monterey regarding transfer of FORA Community Facilities District (CFD) funds for habitat management; and
b. Authorize and direct the Auditor-Controller (ACO) to deposit funds for the habitat management FORA CFD, estimated at $13.58 million, in a Fund and/or Account to be determined by the ACO that allows for the accrual of interest earnings at the County investment pooled interest rate.
SUMMARY/DISCUSSION:
The County owns/will own 2,641 acres of former Fort Ord lands with habitat management responsibility pursuant to the 1997 Installation-Wide Multispecies Habitat Management Plan for Former Fort Ord, California (HMP). As categorized by the HMP, this acreage consists of: Habitat Management Area-1,571 acres; Development with Habitat Reserve-277 acres; Borderland-100 acres; and Development Parcels with Interim Management-693 acres. The Fort Ord Reuse Authority (FORA) set aside a portion of the FORA Basewide Community Facilities District (CFD) funds for habitat management on the former Fort Ord. The FORA Board has voted to distribute these funds to the land-use jurisdictions pursuant to a formula based on the amount of various categories of...
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