REPORT TO THE CITY COUNCIL
FROM: SCOTT L. MOZIER, PE, Director
Public Works Department
BY: HARMANJIT DHALIWAL, PE, Assistant Director
Public Works Department, High-Speed Rail and Special Projects Division
SUBJECT
Title
***RESOLUTION - Approving an Acquisition Agreement between the City of Fresno, Fancher Creek Town Center, LLC, and Fancher Creek Properties, LLC for the Acquisition of Certain Public Improvements Being Constructed within the Fancher Creek Town Center Project. (Council District 5) (Subject to Mayor's Veto)
Body
RECOMMENDATION
Staff recommends that the City Council adopt a resolution approving an Acquisition Agreement between the City of Fresno, Fancher Creek Town Center, LLC, and Fancher Creek Properties, LLC for the Acquisition of Certain Public Improvements Being Constructed within the Fancher Creek Town Center Project.
EXECUTIVE SUMMARY
Staff recommends the City Council approve an Acquisition Agreement for the purpose of acquiring certain public capital improvements being constructed by Fancher Creek Properties, LLC for the benefit of Improvement Area Number 2 of the California Statewide Communities Development Authority (the "Authority") Community Facilities District (CFD) Number 2022-08 (Fancher Creek), City of Fresno, County of Fresno, State of California.
BACKGROUND
Fancher Creek Town Center, LLC (the "Developer"), whose sole member is Fancher Creek Properties, LLC, which is partnership between Lance-Kashian & Company and Penstar Group, is in the process of developing the Fancher Creek Town Center project located on four non-contiguous parcels within the City.
The Developer requested the City consider formation of a new Community Facilities District (CFD) for the Fancher Creek Town Center project. The City of Fresno gave its consent to the formation of a new CFD and adopted Resolution 2022-117 on May 12, 2022, authorizing the California Statewide Communities Development Authority (the "Authority"), of which the City of Fre...
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