BOARD AGENDA MEMORANDUM
Government Code ? 84308 Applies: Yes ? No ?
(If "YES" Complete Attachment A - Gov. Code ? 84308)
SUBJECT:
Title
Provide Notice of Time and Place of Public Hearing Regarding Flood Control Benefit Assessments for Fiscal Year 2024-2025 (FY24-25).
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RECOMMENDATION:
Recommendation
Set a time and place for the public hearing on Flood Control Benefit Assessments for FY24-25 at 1:00 p.m. on May 14, 2024, at the Santa Clara Valley Water District, 5700 Almaden Expressway, San Jose, California, and via Teleconference Zoom Board Meeting.
Body
SUMMARY:
The voter-approved benefit assessments program authorized use of flood control benefit assessments to meet qualified long-term debt obligations associated with outstanding Certificates of Participation, until such obligations are retired. The proceeds of the Certificates have been or will be used to plan, design, and build flood protection facilities to reduce flood damage. This agenda item presents the staff recommendation to set the time and place for the annual public hearing on benefit assessments to meet FY24-25 debt obligations.
Attached to this agenda item is a report entitled "Flood Control Benefit Assessments for Fiscal Years 2024-25 through 2029-30 (April 2024)" (Attachment 1) for the Board's consideration to establish the flood control benefit assessments for FY24-25. Attachment 1 shows the actual benefit assessment rates levied in fiscal year 2023-2024 and the expected benefit assessment rates to be levied in fiscal year 2024-2025. Actual rates will be determined once annual land use information is received from the Santa Clara County Tax Assessor in July 2024.
ENVIRONMENTAL JUSTICE AND EQUITY IMPACT:
There are no Environmental Justice Impacts associated with this action.
FINANCIAL IMPACT:
There is no direct financial impact from this action. The proposed public hearing is required in order to set benefit assessments that meet debt obligations/commitments.
CEQA:
The re...
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