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Agenda Item
ASR
Control 25-000615 |
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MEETING
DATE: |
09/23/25 |
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legal entity taking action: |
Board
of Supervisors |
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board of supervisors district(s): |
5 |
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SUBMITTING Agency/Department: |
County
Executive Office (Approved) |
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Department contact person(s): |
Louis
McClure (714) 834-5999 |
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Christine
Gardea (714) 834-3014 |
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Subject: Amend Reimbursement Agreement for
proposed Community Facilities Districts
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ceo CONCUR |
County Counsel Review |
Clerk of the Board |
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Concur |
Approved
Agreement to Form |
Consent
Calendar |
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3
Votes Board Majority |
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Budgeted: N/A |
Current Year
Cost: N/A |
Annual Cost: N/A |
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Staffing Impact: |
No |
# of Positions: |
Sole Source: N/A |
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Current Fiscal Year Revenue: N/A
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Prior Board Action: 1/12/2021 #20 |
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RECOMMENDED
ACTION(S):
Approve Amendment No. 1 to the
Reimbursement Agreement with RMV PA3 Development, LLC to extend the term
through December 31, 2030, for the costs associated with analyzing and
determining the appropriateness of forming and funding certain public
facilities and improvements through future Community Facilities Districts in
Planning Area 3 and authorize the County Executive Officer or designee to
execute the Agreement.
SUMMARY:
Approval of the recommended action
will allow the developer to fund the staffing and vendor costs associated with
analyzing and determining the appropriateness of forming future Community
Facilities Districts for the efficient financing of public infrastructure at
the time of development.
BACKGROUND
INFORMATION:
In November 2004, your Board
approved the Ranch Plan Development Agreement (Development Agreement) between
the County of Orange and RMV PA3 Development, LLC (Developer) allowing up to
14,000 dwelling units, as well as retail, office, and recreational uses within
a development area of approximately 7,700 acres with approximately 15,000 acres
retained in open space. The Developer
has proposed the formation of one or more community facilities districts (CFD)
and financing of the public facilities and projects that are required pursuant
to the Development Agreement, to be completed in phases, as development occurs.
The County formed three CFDs,
2015-1, 2016-1 and 2017-1, to finance improvements in Planning Area 2, known as
the Village of Esencia. Development is in progress in Planning Area 3, and the
County formed CFD 2021-1, 2023-1 and 2025-1 to finance improvements for phases
of Planning Area 3. It is anticipated
that additional CFDs may be formed for Planning Area 3 beginning as early as
2026.
On January 12, 2021, your Board
approved a Reimbursement Agreement with the Developer to permit the County to
undertake the analyses required to determine the appropriateness of forming
CFDs to finance public facilities and improvements without incurring any
cost. Under the Reimbursement Agreement,
the Developer will be required to periodically advance funds to the County to
cover all costs associated with retaining the financing professionals, as well
as County staff time.
The Reimbursement Agreement is set
to expire on December 31, 2025. The County Executive Office requests your Board
to approve the attached amendment to extend the terms of the Reimbursement
Agreement for five years through December 31, 2030 and to allow unused funds to
be returned to the Developer.
The County Executive Office will
return to the Board if the formation of a CFD is appropriate for the financing
of public facilities.
FINANCIAL
IMPACT:
Staffing
and vendor costs will be funded by the Reimbursement Agreement.
STAFFING
IMPACT:
N/A
ATTACHMENT(S):
Attachment
A - Amendment to Reimbursement Agreement
Attachment B - Reimbursement Agreement