HomeMy WebLinkAbout10 Power Point Adopt Resolution 2020-20, Coldstream JFCA• The Coldstream Development (PC-1) is located at the entrance to
Coldstream Canyon on the west side of Truckee, south of
Interstate 80 and just east of the Donner Memorial State Park
• The project includes
• Construction of up to 300 residential units
• 30,000 square feet of mixed use commercial space
Coldstream Development (PC-1) Location
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• On September 20, 2019, the Board of Directors of the California
Municipal Financing Authority adopted a resolution entitled:
"A Resolution of Intention to Establish the California Municipal
Finance Authority Community Facilities District No. 2019-2
(Town of Truckee — Coldstream).
• The total facilities cost associated with Community Facilities
District (CFD) are $22.3M, with just over $3.8M of the financing to
be included for the District's water and electric infrastructure
• Financing the Coldstream Development infrastructure as
planned, requires the the District to enter into a Joint
Community Facilities Agreement (JCFA) (Exhibit A to the Draft
Resolution in Attachment 1)
• The JCFA is the mechanism through which Coldstream
Development may submit an application to the Bond
Opportunities for Land Development (BOLD) Program
• The action being brought before the Board in this item is
consideration of entering into a JCFA in connection with the
BOLD program
• This resolution does not commit the District to actually forming
the CFD or providing the requested financing
• Opportunity for further analysis with respect to the formation of
the CFD and financing considerations at a future date
• There is no immediate fiscal impact associated with this action
item
• Adoption of Resolution 2020-20 would allow the Coldstream
Development Project to include the District's infrastructure for
Electric and Water Services in the application for financing
through the BOLD program
• Adopt Resolution 2020-20 Authorizing Execution and Delivery of
Joint Community Facilities Agreement in Connection with the
Bond Opportunities for Land Development (BOLD) Program for
the Coldstream Project in the Town of Truckee