To: Board of Supervisors
From: County Administrative Office
Agenda Section: Time Certain Matter
SUBJECT:
title
10:30am - Meeting of the Public Financing Authority (PFA) for the Samoa Peninsula Enhanced Infrastructure Financing District (EIFD), Resolution Preparing the Infrastructure Finance Plan (IFP), Adoption of the Conflict of Interest Code, and Appointment of Various Positions
end
RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Adjourn as the Humboldt County Board of Supervisors;
2. Appointed members convene as the Public Financing Authority for the Samoa Peninsula Enhanced Infrastructure Financing District;
a. Roll call
b. Public comment on non-agenda items
c. Agenda Items
i. Elect Chair and Vice-Chair of the Public Financing authority
a. Discussion
b. Public Comment
ii. Adopt a resolution (Attachment 1) that:
1. Directs the preparation of the IFP
2. Adopts the Conflict of Interest Code, and
3. Makes various appointments
a. Discussion
b. Public Comment
iii. Review of EIFD timeline and upcoming Public Hearing dates
iv. Discussion
v. Public Comment
3. Adjourn the Public Finance Authority for the Samoa Peninsula Enhanced Infrastructure Finance District; and
4. Reconvene as the Humboldt County Board of Supervisors
Body
SOURCE OF FUNDING:
General Fund (1100) - Property Tax
DISCUSSION:
On June 29, 2021, your Board adopted a Resolution of Intention (ROI) to form the Enhanced Infrastructure Financing District (EIFD) and established the Public Finance Authority (PFA) to be the governing body of the EIFD. As part of the EIFD formation process, the PFA is required to direct the preparation of an Infrastructure Finance Plan (IFP). The IFP is a legal document required by legislation. The document describes the EIFD and specific requirements related to financing and implementing goals of the EIFD. Upon the completion of the IFP, it will be distributed to the Board of Supervisors and other interested parties as identified in the EIFD Law. After the IFP is approved by the Board of Supervisors, the PFA will conduct a public hearing on the formation of the EIFD and, upon conclusion, approve the IFP and officially establish the EIFD. The IFP will include the following key components:
• A map of the area and a description of public facilities to be financed
• A financing section that addresses the maximum amount of tax increment to be committed to the EIFD
• An analysis of the fiscal impact to the county of committing tax increment to the EIFD.
In addition to ordering the preparation of the IFP, the PFA must also, at its first meeting, adopt a Conflict of Interest Code (per the Political Reform Act, Government Code section 81000 et seq.) and appoint various positions.
FINANCIAL IMPACT:
Developing and maintaining public infrastructure on the Samoa Peninsula is central to promoting economic prosperity, meeting energy goals, creating jobs, and enhancing quality of place and life in Humboldt County. Multiple proposed projects on the Samoa Peninsula will require functional infrastructure to succeed, and a preliminary Fiscal Impact Analysis shows that this development will have an estimated positive annual fiscal impact of $400,000 to the General Fund by FY 2025-2026 and $39,000,000 throughout the lifetime of the EIFD.
Existing staff resources from various departments, including the County Administrative Office of
Economic Development, the Planning and Building Department, County Counsel, the Clerk-
Recorder’s Office, the Auditor-Controller, the Assessor, and the Treasurer Tax Collector, will be
instrumental in initial EIFD formation, including the preparation of the IFP. Cumulative staff hours across these departments for the initial establishment of the EIFD are anticipated to be 520 staff hours per fiscal year, for the first 2 years, or approximately $33,800 per fiscal year.
Once EIFD activity increases, staff time to support the EIFD is expected to increase. Until self-sufficient, this staff commitment would need to be funded through existing department budgets or through an increase from the General Fund, at your Boards discretion. EIFD law does provides that tax increment generated may be allocated to formation planning for the EIFD.
Staff has also entered into a Professional Service Agreement with Kosmont Companies who will provide information, guidance, expertise, and document preparation, as needed, during the formation period of the EIFD. The maximum amount payable for these services is $20,000.
STRATEGIC FRAMEWORK:
This action supports your Board’s Strategic Framework by supporting business, workforce development and creation of private-sector jobs .
OTHER AGENCY INVOLVEMENT:
State of California Governor’s office of Economic Development, Humboldt County Assessor,
Humboldt County Treasurer Tax Collector, Humboldt Bay Harbor, Recreation & Conversation District, the Samoa Peninsula Community Services District, the Manila Community Services District, the Humboldt Bay Municipal Water District, the City of Eureka, the City of Arcata
ALTERNATIVES TO STAFF RECOMMENDATIONS:
Board Discretion
ATTACHMENTS:
A - Resolution
B - Meeting Calendar
PREVIOUS ACTION/REFERRAL:
Board Order No.: N/A
Meeting of: May 21, 2019, September 3, 2019, March 17, 2020, June 29, 2021
File No.: 19-642, 19-1246, 20-204, 21-68