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MEMORANDUM
TO: Board of Supervisors
FROM: Carol J. Huchingson, County Administrative Officer
DATE: June 27, 2017
SUBJECT: Adopt Resolution pertaining to Tax Revenue Exchange for Annexation to County Service Area No. 6 - Finley Water (Annexation - LAFCO Project #2016-04)
EXECUTIVE SUMMARY:
Our office has received notification from the County Auditor-Controller regarding a proposed annexation to County Service Area No. 6, Finley Water, which has been filed with LAFCO (Annexation - LAFCO Project #2016-04). A tax exchange agreement must be reached in order for this annexation to proceed.
Since the County and other taxing entities will not be relieved of any service requirements as a result of the annexation, it would not be appropriate for the general fund and other taxing entities to incur any loss of property tax revenue. The District will be able to generate revenue through fees charged for water connections in the annexed area. The proposed resolution, attached hereto, provides for no exchange of the existing base property tax revenue or the future tax increment, as a result of this annexation.
FISCAL IMPACT: _X_ None __Budgeted __Non-Budgeted
Estimated Cost:
Amount Budgeted:
Additional Requested:
Annual Cost (if planned for future years):
FISCAL IMPACT (Narrative): N/A
STAFFING IMPACT (if applicable): N/A
Recommended Action
RECOMMENDED ACTION: Adopt Resolution pertaining to Tax Revenue Exchange for Annexation to County Service Area No. 6 - Finley Water (Annexation - LAFCO Project #2016-04).