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Council forms The Avenues CFD and records special‑tax lien after property‑owner ballot
Summary
Council adopted resolutions to form City of Tracy Community Facilities District No. 2025‑1 (The Avenues), called and tallied a property‑owner ballot (61 votes in favor), and directed the clerk to record a notice of special‑tax lien; staff said bond issuance would be considered separately.
The City Council acted to form City of Tracy Community Facilities District (CFD) No. 2025‑1, known as The Avenues, a financing mechanism proposed by the developer to fund public infrastructure and services for a planned 471‑unit residential project in the Ellis specific plan area.
Staff explained the CFD would use two special taxes: a facility special tax to pay debt service on bonds (and to finance certain infrastructure on a pay‑as‑you‑go basis) and a services special tax to fund ongoing services. Staff corrected a point in the staff report to note the services special tax will be levied from the beginning (it also can increase after facility special taxes end).
Council called the property‑owner election for the CFD and the clerk opened the single ballot received from the only property owner, reporting 61 votes in favor. The council adopted a resolution declaring the election results and directed recording of a notice of special‑tax lien with the county. Staff emphasized that tonight’s action formed the CFD only; whether bonds are issued and on what terms will be a separate future council decision.
Next steps: city staff will record the notice of special‑tax lien as directed and return with the CFD ordinance for formal adoption and any later bond‑issuance requests.
