HomeMy WebLinkAbout9 BOLD Program - Truckee Railyard Project
ACTION ITEM #9 ProjectRailyardProgram for the Truckee JCFA in Connection with the BOLD Authorizing Execution and Delivery of 24 -Consideration of Resolution 2019ProjectRailyardProgram
for the Truckee JCFA in Connection with the BOLD Authorizing Execution and Delivery of 24 -Consideration of Resolution 2019 October 2, 2019
JCFA on January 19, 2017The Electric Utility Development Agreement was approved by the Board •on July 20, 2016The Water Utility Development Agreement was approved by the Board •Project
the District RailyardTruckee Development Associates (TDA) is engaged in the Truckee •Indirect financing•Direct financing •Board approval is required for all financing activities of
the District •BACKGROUND / HISTORY RailyardTruckee –BOLD Program -JCFA RailyardTruckee –BOLD Program -
NEW INFORMATION(CMFA) Agreement (JCFA) with California Municipal Finance Authority TDPUD would need to enter into a Joint Communities Facilities In order for TDA to be able to finance
the infrastructure as planned •Administered by California Municipal Finance Authority (CMFA)•Development Program (BOLD Program)The public financing being requested is Bond Opportunities
for Land •lan includes TDPUD infrastructurePThe Finance •Infrastructure FinancingTown of Truckee approved TDA’s application for Local Public •TDA is seeking Local Public Infrastructure
Financing •ProjectRailyardTruckee –BOLD Program -JCFA ProjectRailyardTruckee –BOLD Program -JCFA
NEW INFORMATION FinancingRoos-Assessment District Financing and MelloStaff held a workshop with the Board on June 6, 2018 reviewing •All administration of the Bonds will be done by CMFA•TDPUD
infrastructure is eligible •finance certain public facilities authorized under the ActCommunity Facilities Act of 1982 by forming a CFD to Roos-The Bold Program is administered by CMFA
utilizing the Mello•ProjectRailyardTruckee –BOLD Program -JCFA ProjectRailyardTruckee –BOLD Program -JCFA
NEW INFORMATION financing prior to bond issuanceThe Board will have an additional opportunity to review the •would beginApportionment calculation and further bonding processes CFD would
begin formation and Rate and Method of •CMFA/BOLD Program including TDPUD infrastructureFinal application would be submitted and processed by •Next Steps•ProjectRailyardTruckee –BOLD
Program -JCFA ProjectRailyardTruckee –BOLD Program -JCFA
FISCAL IMPACT application for BOLD financingthe District’s infrastructure for electric and water service in their Project to include Railyardwould allow the Truckee •There is no immediate
fiscal impact associated with this action item•ProjectRailyardTruckee –BOLD Program -JCFA ProjectRailyardTruckee –BOLD Program -JCFA
RECOMMENDATION ProjectRailyardOpportunities for Land Development (BOLD) Program for the Truckee Community Facilities Agreement in connection with the Bond 24 authorizing execution and
delivery of Joint -Adopt Resolution 2019•Place Title Here 36ptPlace Title Here 36pt