RECOMMENDATION(S):
APPROVE and AUTHORIZE the Auditor-Controller to change the Tax Rate Area (TRA) increment allocation factor designated for the parcels in TRA 66056 of the Stonegate Development, Subdivisions 6743, 6884, 6885 and 6197 in County Service Area P-2, Fund 265200 (Danville-Alamo area) to County Service Area P-2B, Fund 265700 (Alamo area).
FISCAL IMPACT:
No change in net County cost.
BACKGROUND:
Parcels of the Stonegate subdivision, along with the rest of the parcels in CSA P-2B (Alamo), receive an annual assessment for police services and are included in the boundary of CSA P-2B (Alamo). However, unlike the rest of the parcels in CSA P-2B (Alamo) a portion of Stonegate’s 1% ad valorem property tax growth does not accrue to CSA P-2B (Alamo) but to CSA P-2 (Danville-Alamo) and has been accumulating there for a number of years. The total accruing from all sources to CSA P-2 (Danville-Alamo) each year is approximately $7124.
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