REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Fred A. Wilson, City Manager
PREPARED BY: Kellee Fritzal, Deputy Director of Economic Development
Subject:
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Adopt Resolution No. 2019-18 directing the execution and recordation of a Notice of Cessation of Special Tax - Improvement Area B of the City of Huntington Beach Community Facilities District (CFD) No. 2002-1 (McDonnell Centre Business Park)
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Statement of Issue:
The Boeing Realty Company is in escrow to convey portions of its property to the Sares Regis Group, an Irvine based development firm, for development. City Council authorization is requested to adopt Resolution No. 2019 -18 authorizing the execution of a Notice of Cessation of Special Tax pertaining to "Improvement Area B" of the City of Huntington Beach Community Facilities District No. 2002-1 (McDonnell Centre Business Park). This action is necessary for Boeing and the Sares Regis Group to proceed with the development of "Improvement Area B" in the McDonnell Centre Business District.
Financial Impact:
There are no fiscal impacts associated with the removal of the tax lien. No bonds or other obligations have been issued or incurred with respect to Improvement Area B of Community Facilities District No. 2002-1, and no special taxes were levied on it. The removal of Improvement Area B from the District will provide Boeing with clear marketable title to consummate the sale of the property, which will allow the buyer of the property to proceed with planned development.
Recommended Action:
recommendation
A) Adopt Resolution No. 2019-18, "A Resolution of the City Council of the City of Huntington Beach Directing the Execution of a Notice of Cessation of Special Tax - Improvement Area B of the City of Huntington Beach Community Facilities District No. 2002-1 (McDonnell Centre Business Park);" and,
B) Authorize the City Manager and City Clerk to execute and record the Notice of Cess...
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