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Stockton moves to form South Stockton financing district and approves pre‑zoning for Mariposa Industrial Park parcels
Summary
The Stockton City Council unanimously approved a resolution of intent to form Community Facilities District (CFD) 2024‑1 to fund fire stations and services in South Stockton and approved an EIR addendum and pre‑zoning for four parcels in the Mariposa Industrial Park; a public hearing on formation is set for Nov. 12, 2024.
Stockton’s City Council voted unanimously Sept. 17 to begin the two‑step process to form Community Facilities District (CFD) 2024‑1, a special taxing district intended to fund new fire facilities and paramedic services in the South Stockton area and the Mariposa Industrial Park.
The council adopted a resolution of intent that would allow the city to levy a facilities special tax and a services special tax within the district and to later incur bonded indebtedness up to a maximum of $50,000,000 to finance public facilities. Ken Deaker of Del Rio Advisors, the city’s municipal advisor, told the council the CFD is the "first of a two‑step process" and that the district would initially cover the Mariposa Industrial…
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