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File Number: 22-272 3.Apartment Property - $887.25 per Dwelling Unit 4.Hotel Property - $2.48 per square foot of Non -Residential Floor Area 5.Non-Residential Property - $2.18 per square foot of Non-Residential Floor Area Based upon input from the Developer and prevailing special tax rates for other Bay Area cities ’ CFDs, staff recommends the Effective Tax Rate for Residential Property within the CFD be set at 1.70% of the estimated sales price of the residential unit. CFD Formation Process The proposed CFD will meet all requirements of the City’s existing local goals and policies for CFDs. Staff recommends that the City Council should receive and file the Hearing Report prepared at the direction of the City Council and available at the meeting, and conduct a public hearing regarding (a) the establishment of the new CFD, (b) the levy of special taxes on property in the CFD, (c) the necessity to incur bonded indebtedness for the CFD, and (d) the establishment of an appropriation limit for the new CFD. If, following the public hearing, no majority protest by owners of 50%+ of acreage owned within the CFD (note the City currently owns all of the land) has been filed pertaining to the establishment of the CFD or the levy of special taxes within the new CFD, the City Council will consider the adoption of the following resolutions below: 1.Resolution of Formation Establishing the City of San Leandro Community Facilities District No . 2022-1 (Monarch Bay Shoreline Facilities and Services ), and Providing for the Levy of a Special Tax in the Community Facilities District to Finance the Acquisition and Construction of Public Facilities and the Provision of Public Services; 2.Resolution Deeming it Necessary to Incur Bonded Indebtedness to Finance the Acquisition and Construction of Public Facilities for the City of San Leandro Community Facilities District No . 2022-1 (Monarch Bay Shoreline Facilities and Services); and 3.Resolution Calling Special Mailed -Ballot Election within the City of San Leandro Community Facilities District No. 2022-1 (Monarch Bay Shoreline Facilities and Services). Following the adoption of the above resolutions, the City Clerk will tabulate the ballots cast in the special election called for the new CFD to enable the qualified electors (i.e., the City as landowner ) of the new CFD to vote on ballot questions regarding (a) the authorization to levy special taxes within the CFD, (b) the authorization to issue bonds secured by the levy of such special taxes and (c) the establishment of an appropriations limit for the CFD. The City, as the sole owner of the land in the CFD, is the only entity to vote in the election. If the result of the special election reveals that the propositions have received the affirmative vote of the City, the City Council would then take the following actions to complete the authorization to levy the special tax: Adopt the following resolution: Resolution Declaring Results of Special Mailed -Ballot Election within the City of San Leandro Community Facilities District No. 2022-1 (Monarch Bay Shoreline Facilities and Services); and Hold the first reading of the following ordinance: Ordinance Levying a Special Tax for Fiscal Year 2023-2024 and Following Fiscal Years Solely Within Page 4 City of San Leandro Printed on 8/31/2022