TITLE
Adopt resolution declaring the results of the special election and directing recording of a first amendment to the Notice of Special Tax Lien for Improvement Area B of the City of Long Beach Community Facilities District No. 2007-1 (Douglas Park - Commercial Area). (District 5)
DISCUSSION
In 2007, under the provisions of the Long Beach Special Tax Financing Improvement Law (Chapter 3.52 of Division V of the Long Beach Municipal Code), the City Council formed Improvement Area B of the City of Long Beach Community Facilities District No. 2007-1 (Douglas Park - Commercial Area) (Improvement Area) to provide a means to finance certain public improvements and municipal services in a portion of the Douglas Park area south of Cover Street. The City is authorized to levy a special tax on property located in the Improvement Area (all of which is currently owned by The Boeing Company) to pay costs of specified facilities and services.
On May 26, 2010, the City entered into a Douglas Park Amended and Restated Development Agreement (Amended DA) with The Boeing Company, which allows for the services authorized to be funded by the Improvement Area to be altered to increase the area in which the services can be provided, and to remove a requirement that the services be in addition to those provided in the Improvement Area prior to the formation of the Improvement Area. City staff and representatives of The Boeing Company have agreed upon a planned implementation of the applicable provisions of the Amended DA that pertain to the Improvement Area.
On January 4, 2011, the City Council adopted a Resolution of consideration to alter the description of the services authorized to be funded in and adjacent to the Improvement Area. That resolution called for a public hearing on the matter by the City Council at the January 18, 2011 City Council meeting. It is recommended that the City Council hold the public hearing regarding the proposed alteration of the description of ...
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