City Council Agenda
Memo to:
Manteca City Council
From:
Toni Lundgren, City Manger
L. David Nefouse, City Attorney
Kevin L. Jorgensen II, City Engineer / Director of Engineering
Brad Wungluck, Director of Development Services
Prepared by:
Daniella G. Green, Assistant City Attorney
Date:
June 17, 2025
Subject:
Authorizing Use of BOLD Program and Clarifying Options for Land-Secured Financing in the City
Recommendation:
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Conduct a Public Hearing and adopt a resolution authorizing the BOLD Program and clarifying the options for Land-Secured Financing in the City.
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Background:
INTRODUCTION
In 2011 and 2024, the City authorized use of the Statewide Community Infrastructure Program (SCIP) offered by the California Statewide Communities Development Authority (CSCDA), which is a joint exercise of powers agency of which the City is a member. SCIP provides a land-secured financing option for developers to finance eligible facilities within the City. In 2023, the City formed its City of Manteca Community Facilities District No. 2023-1 (Villa Ticino West Facilities) for the same purpose - to allow the developer of the project to finance eligible facilities. Staff recommends authorizing a second Statewide program for financing eligible facilities, known as the Bond Opportunities for Land Development (BOLD) Program. BOLD is offered by the California Municipal Finance Authority (CMFA), which is a joint powers agency, of which the City is a member just like CSCDA.
The attached resolution would authorize use of the BOLD Program for financing eligible facilities, and clarify that the City may form its own community facilities districts for development projects or out-source to the SCIP or BOLD programs.
DISCUSSION
Background on CMFA. The City is a member of CMFA, a State-wide joint powers authority whose members are numerous cities, counties and other public agencies throughout California. CMFA has the authority to issue bonds to mee...
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