Consider creating special district to finance Point Molate infrastructure
In Plain English
The city is analyzing whether to form a Community Facilities District at Point Molate. This special district would allow the developer to issue bonds backed by future property taxes to pay for roads, utilities, and other infrastructure. If approved, future residents would pay higher property taxes to repay the bonds over 20-30 years.
Auto-generated summary. Source: official agenda documents.
Votes
To extend the meeting to complete the discussion for Item Q.1
5 to 2
To suspend the rules and extend the meeting to complete the discussion for Item Q.1
4 to 3
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