Receive Davis Branch Library Community Facilities District No. 1989-1 Special Tax Report for 2024-25 and adopt resolution approving the report. (No general fund impact) (Lopez)

The Board must annually adopt the Davis Library Community Facilities District No. 1989-1 Special Tax Report. This information must also be on file with the Clerk of the Board and updated annually. Attached is the updated Special Tax Report for fiscal year 2024-25.

In 2007, Davis voters approved Measure P, which increases the amount of their special tax annually, and changed the basis for the assessment method. The proceeds of this special tax are to be used to pay for the cost of additional bonds issued for the purpose of expanding and renovating the Mary L. Stephens Davis Branch Library, as well as providing additional funds for library services in Davis.

The County currently contracts with SCI Consulting Group to provide special tax assessment services for the Davis Library Community Facilities District No. 1989-1. They provide the following services: reconciliation and review of boundaries and assessor parcel numbers; tax report and special tax administration services; responding to public inquiries and appeals; and preparation and submission of California Debt and Investment Advisory Commission reports.

Staff from the Department of Financial Services, County Administrator's Office, SCI Consulting Group and the Library have been involved in developing the recommendations before you today.