Description
Title: Proposed Changes to Improvement Area No. 3, Designate a new Improvement Area No. 4 of the Delta Shores Community Facilities District No. 2019-01 (Improvements), and Propose the Levy of a Special Tax in and the Incurrence of Debt for Improvement Area No. 4
Summary
The City of Sacramento is considering legislation to modify its Delta Shores Community Facilities District (CFD) by changing Improvement Area No. 3 (IA-3) and establishing a new Improvement Area No. 4 (IA-4). This proposal involves adjusting IA-3's boundaries, reducing its bonded indebtedness from $63 million to $43.4 million, and creating IA-4 with a proposed bonded debt of $23 million to finance public facilities. The initiative responds to requests from developers JEN and DR Horton, who aim to construct 397 homes in IA-4. The legislation impacts property owners and future homeowners, as it includes a new special tax structure to fund necessary public infrastructure. Public hearings and potential elections are planned to gather feedback