REPORT TO THE FRESNO EIFD PUBLIC FINANCING AUTHORITY
FROM: SANTINO DANISI, MBA, City Controller/Finance Director
Finance Department
SUBJECT
Title
Actions pertaining to the Fresno Enhanced Infrastructure Financing District (Fresno EIFD) Annual Reports for Fiscal Year 2022-2023 and 2023-2024:
(1) HEARING to Consider the Resolution to Adopt the Fresno EIFD Annual Report for the Fiscal Year 2022-2023 and 2023-2024.
(2) RESOLUTION - Adopt the Fresno EIFD Annual Report for Fiscal Year 2022-2023-2024.
Body
RECOMMENDATION
Staff recommends that the Fresno EIFD Public Financing Authority Approve a Resolution to adopt the Fresno EIFD Annual Report for Fiscal Year 2022-2023 and 2023-2024.
EXECUTIVE SUMMARY
The Fresno Enhanced Infrastructure Financing District Annual Report for Fiscal Year 2022-2023 and 2023-2024 is hereby formally submitted for adoption. This Annual Report is prepared pursuant to Government Code Section 53398.66 and presents the following information:
a) A description of the projects undertaken in the fiscal year, including any rehabilitation of structures, and a comparison of the progress expected to be made on those projects compared to the actual progress.
b) A chart comparing the actual revenue and expenses, including administrative costs, of the PFA to the budgeted revenues and expenses.
c) The amount of tax increment revenue received.
d) An assessment of the status regarding completion of the EIFD's projects.
e) The amount of revenue expended to assist private businesses
As required by State Law, a draft Annual Report for the Fiscal Year 2023-24 was made available to the public 30 days before the public hearing. The draft Annual Report was posted on the Fresno EIFD's website on July, 16 2024, and a written notice was mailed to all residents and landowners within the boundary of the Fresno EIFD on July 26, 2024.
BACKGROUND
The City of Fresno established the Public Financing Authority (PFA) for the Enhanced Infrastructure Fi...
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