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Council approves financing resolutions and development agreement amendment for Trails subdivision and TIF district
Summary
Valley Center council voted to authorize construction financing for multiple infrastructure improvements in the Trails subdivision (drainage, paving, water, sewer), approved a supplemental trails design agreement, and authorized an amendment and a new development agreement related to the district’s TIF development plan.
The Council approved a package of resolutions and agreements on May 6 to finance and proceed with infrastructure for the Trails subdivision and to finalize developer responsibilities under the TIF district.
City bond counsel explained that the council was considering the first of four resolutions authorizing construction and financing for drainage improvements that will serve Trails in Phase 2; similar resolutions for paving, water and sanitary sewer followed. Those resolutions were brought after the city received petitions signed…
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