REPORT TO THE CITY COUNCIL
FROM: GEORGEANNE A. WHITE, Assistant City Manager
Office of the Mayor & City Manager
NELSON ESPARZA, Council President
District 7, City Council
SUBJECT
Title
***RESOLUTION - Adopting the 37th amendment to the Annual Appropriation Resolution (AAR) No. 2021-178 to appropriate $9,500 for reimbursement of expenses related to the formation of the Fresno Enhanced Infrastructure Financing District (Requires 5 Affirmative Votes) (Subject to Mayor's Veto).
Body
RECOMMENDATION
The Administration recommends Council approve AAR No. 2021-178 in the amount of $9,500 to reimburse the Council District 7 budget for funds it expended for consulting services related to the creation of the Enhanced Infrastructure Financing District.
EXECUTIVE SUMMARY
In 2020, the City Council formed the Fresno Enhanced Infrastructure Financing District (EIFD) to finance the construction and/or acquisition and maintenance of capital improvements and established a Public Financing Authority.
Council President Esparza led this effort and as a result, expended funds out of his district budget for consulting services that should have been paid for out of the General City Purpose division.
The Administration wishes to reimburse the District 7 budget since the formation of the EIFD is a project that is beneficial to the City as a whole.
BACKGROUND
The City Council formed the Fresno Enhanced Infrastructure Financing District in 2020 to finance the construction and/or acquisition and maintenance of capital improvements and established a Public Financing Authority.
The EIFD is intended to serve as a catalyst for private sector investment and critical infrastructure with transformative potential for the EIFD area and the City of Fresno as a whole. The EIFD encompasses approximately 4,237 acres of land, representing approximately 5.8% of the City's total approximately 73,400 acres.
Because the EIFD includes the southern portion of the Blackstone Avenue ...
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