Advertisement


Rent Increase Survey

Have you submitted your latest rent increase data to the rent increase survey?

City to Issue Mello Roos Bonds for Alameda Landing Infrastructure

alameda landing safeway

The City of Alameda is expected to levy a special tax on Alameda Landing residential properties. (File Photo)

Tomorrow night, Alameda City Council is expected to approve a resolution that would create a Mello-Roos tax district at Alameda Landing and allow the city to issue up to $20 million in bonds to pay for infrastructure improvements.

Generally, a Mello-Roos, or Community Facilities District (CFD) is a specified area with the city upon which special taxes are levied to cover the costs of providing services, such as utilities, or police and fire services.

The planned residential and commercial areas of Alameda Landing are to be included in the district, and parcels within the district will be taxed with a special property tax. Such districts are essentially end-runs around the property tax limitations of Proposition 13 (1978).

The special property taxes will be used to pay back, over time, any bonds that are issued.

The funds will be used for water system improvements; East Bay Municipal Utility District (EBMUD) will ultimately own and operate those improvements.

Homeowners at Alameda Landing could pay as much as $1,200 per year via the district; commercial property owners could pay $0.36 per building square foot.

The creation of the district is in accordance with past agreements between the developer, Catellus, and the City of Alameda.

Comments are closed.

  • https://t.co/wYuZyc5Rh5 ,
  • https://t.co/K0fm5DnDwG ,
  • https://t.co/pk5RQ52aUQ ,
  • Library To Host Creative Writing Workshop For Teens https://t.co/nTsVqPkP47 ,
  • https://t.co/HPqGk4LNjh ,

Directories