City Council Agenda
Memo to:
Manteca City Council
From:
Matthew Boring, Interim Director of Finance
Date:
July 30, 2025
Subject:
Community Facilities District No. 2025-1
(Indelicato Facilities and Services)
Special Tax Bonds, Series 2025
Recommendation:
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Adopt a resolution of Intention of the City Council of the City of Manteca to form the City of Manteca Community Facilities District No. 2025-1 (Indelicato Facilities and Services), and to levy special taxes therein to finance certain public services and the acquisition and construction of certain public facilities and; Adopt a resolution of the City Council of the City of Manteca, State of California, declaring its intention to incur a bonded indebtedness in and for City of Manteca Community Facilities District No. 2025-1 (Indelicato Facilities and Services) in a maximum aggregate principal amount not to exceed $7 million to finance the acquisition and construction of certain public facilities.
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Background:
The City of Manteca has been asked by K. Hovnanian California Region, Inc. (the "Developer") of the proposed Indelicato development to form a new District and levy special taxes to form the City of Manteca Community Facilities District No. 2025-1 (Indelicato Facilities and Services). The Project contains 40 acres adjacent to Airport Way and is comprised of 173 single family homes along with parks and trails. The District is being formed to finance the acquisition and construction of certain public facilities and ongoing public services related to the development. Formation of the District is consistent with the City's goals and policies governing the use of community facilities districts.
By forming the District, the City will consider financing the public capital facilities and incidental expenses through the sale of bonded indebtedness in an amount not to exceed principal amount of $7,000,000. The bonds would be paid from special taxes levied on homes in the development. The form...
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