HomeMy WebLinkAbout10 Power Point Special Tax Resolutions-OG and Gray'sConsent Item #10
Approval of Special Tax
Resolutions for Old Greenwood
& Gray's Crossing CFDs
June i, 2011
Background / History
• On October 14, 2003, the Board adopted Ordinance #2003-
04 authorizing the levy of a special tax on the Old
Greenwood Community Facilities District 03-1
• On July 21, 2004, the Board adopted Ordinance #2004-02
authorizing the levy of a special tax on the Gray's Crossing
Community Facilities District 04-1
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New Information
• Each year, the Board authorizes
adding
the special tax
levy
for both the Old Greenwood and
Gray's
Crossing CFD's
to
the Nevada County tax rolls for collection
• The annual resolutions for the Old Greenwood and Gray's
Crossing Community Facilities Districts are attached for
Board action
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Fiscal Impact
• The estimated revenue from this action is:
— Old Greenwood Assessments
— Gray's Crossing Assessments
$ 9541953
$214231578
The funds collected are used to make annual loan payments
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Recommendation
a) Adopt Resolution 2011-AA requesting Nevada County to
collect the special taxes for the Old Greenwood 03-1 Community
Facilities District
b) Adopt Resolution 2011-BB requesting Nevada County to
collect the special taxes for the Gray's Crossing 04-1 Community
Facilities District
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