The owners of property within the Olsen ranch/south Chandler facilities may see an increase its special taxes.
The area has been previously deemed a community facilities district (CFD) by the city, which allows for a special funding mechanism in the form of bonds to pay for significant infrastructure and public services, according to the agenda.
Subject to a two-thirds voter approval of qualified electors in the area, a legislative body can collect a special tax within the boundaries of the CFD to pay for bonds. The owners of the area have requested the city to increase the bonded indebtedness for two of its three areas by one million dollars.
The resolution on Tuesday’s meeting would only approve the necessity declaration; the bond increase would have to be approved after a public hearing and testimony, scheduled for May 6th in the city council chambers.
