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Council approves formation of South Stockton community facilities district (Mariposa Industrial Park)
Summary
Council approved formation of CFD No. 2024‑1 for the Mariposa industrial area in South Stockton, authorizing resolutions and an ordinance to levy special taxes with initial maximum rates described in staff presentation.
The Stockton City Council on Nov. 12 approved the formation of Community Facilities District No. 2024‑1 (South Stockton Facilities and Services), a special district intended to fund fire‑related capital infrastructure and ongoing services in the Mariposa Industrial Park area.
City staff and municipal finance advisors presented the finalized formation package, which included a resolution of formation, a resolution of necessity to incur bonded indebtedness, a resolution calling an election of landowners and an ordinance authorizing the levy of special taxes. Ballots returned by landowners within the proposed initial boundary were unanimous in favor, and the council approved the formation and related resolutions.
Advisors explained the initial maximum annual facilities special tax will be $650 per acre (escalating at 2% per year while bonds are outstanding) and the maximum annual services special tax will be $1,637 per acre (escalating up to 4% per year and remaining ongoing). The initial district boundary encompasses the Mariposa Industrial Park (including a large distribution center) with future annexation territory identified for additional development as projects come forward.
Councilmembers asked about obligations for future developers and whether annexation is automatic; staff said annexation and tax obligations would be negotiated in development agreements and occur when development proposals come forward. The council approved the set of actions required to form the CFD and move forward with recording a special tax lien as provided in the formation process.
Staff said future bond issuance to finance facilities would come back to the council for approval when needed. The vote to form the district passed unanimously among present councilmembers with the mayor absent.
