REPORT TO THE CITY COUNCIL
FROM: MICHAEL A. LIMA, Finance Director/Controller
Finance Department
SUBJECT
Title
Memorandum of Understanding for Administrative Support between the City of Fresno and the Fresno Enhanced Infrastructure Financing District
Body
RECOMMENDATION
Staff recommends the Council of the City of Fresno (Council) approve the Memorandum of Understanding (MOU) for administrative support between the City of Fresno (City) and the Fresno Enhanced Infrastructure Financing District (FEIFD)
EXECUTIVE SUMMARY
Council established the FEIFD in April 2020 to finance certain public facilities allowed pursuant to the State of California's (State) Enhanced Infrastructure Financing District law. This action was followed by a subsequent Council action in May 2020, which established the Public Finance Authority of the FEIFD (PFA) to act as the FEIFD's governing board.
While the FEIFD has a governing board, it does not have staff to carry out the FEIFD's administrative functions, such as financial and legal services. Thus, the FEIFD is dependent on City staff to carry out these administrative functions. As State law specifies that the FEIFD is a separate legal entity from the City, an MOU detailing between the City and the FEIFD is needed to define the roles and responsibilities that each entity will provide to the other. The attached MOU, which has been reviewed and edited by both parties, will provide that clarity of responsibilities. Staff recommends that Council approve the proposed MOU between the City and the FEIFD.
BACKGROUND
On April 23, 2020, Council adopted Resolution 2020-084 which established the FEIFD. This action was followed by the adoption of Resolution 2020-099 on May 14, 2020 which defined the PFA as the FEIFD's governing board. The FEIFD was created to oversee infrastructure development in an area generally defined as downtown Fresno and the Blackstone Avenue corridor to Gettysburg Avenue. The FEIFD will use property ta...
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