In recent years, a number of properties in Los Trancos Woods have suffered from failing septic systems. Additional properties have substandard septic systems that will require replacement.
As part of the procedure to allow these residents to connect to a sewer system, LAFCo voted in May of 2002 to allow the annexation of 53 properties into the West Bay Sanitary District. Four homes later dropped out of participating, but a Phase Two annexation resulted in an additional 11 homes for a total of 60 participating properties.
Residents have the option to participate in the sewer program, as they will be responsible for funding the construction of the system. In order to expedite the process, a state program has been identified that could provide the funding needed for the project later this summer.
The SCIP program is administered by the California Statewide Communities Development Authority (CSCDA), a joint powers authority sponsored by the California State Association of Counties and the League of California Cities. CSCDA was created to provide local governments and private entities access to low-cost, tax-exempt financing for projects that create jobs, help communities prosper and improve the quality of life in California. California Communities has issued more than $20 billion in tax-exempt bonds since its creation in 1988.
The Statewide Community Infrastructure Program uses limited obligation bonds that pool together a variety of infrastructure projects to raise capital to finance projects such as the sewer construction for Los Trancos Woods. The bond money would be given to the West Bay Sanitary District for the construction, and the residents would be responsible for paying the bond back to the California Statewide Communities Development Authority.
The California Statewide Communities Development Authority would impose a special assessment on the owner’s property to repay the portion of the bonds issued to finance the fees pay with respect to the property. This assessment would be on each participant’s tax bill.
Participation for affected residents in SCIP is voluntary.
San Mateo County is a member of California Statewide Communities Development Authority, but is not a member of the Statewide Community Infrastructure Program. A vote to join the SCIP would not result in any County costs; it merely enables the residents of Los Trancos Woods to participate in the program. The California Statewide Communities Development Authority would be responsible for all district formation, district administration, bond issuance and bond administration functions.
The proposed resolution authorizes CSCDA to accept applications from Los Trancos Woods owners to apply for tax-exempt financing of development impact fees through SCIP. It also authorizes CSCDA to form an assessment district covering the aforementioned jurisdiction, conduct assessment proceedings and levy assessments against the property of participating owners. It also authorizes miscellaneous related actions and makes certain findings and determinations required by law.
|
