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Record of Proceedings

Aggie Square EIFD Public Financing Authority Special Meeting – June 21, 2022

Aggie Square Enhanced Infrastructure Financing District Public Financing Authority — Tuesday, June 21, 2022
BodySacramento, California
SessionAggie Square Enhanced Infrastructure Financing District Public Financing Authority
DateTuesday, June 21, 2022
StatusFILED
Video Record
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Transcript — Verbatim
0:20

Chair Staff is ready when you are.

0:23

Great.

0:24

Let's go ahead and call this meeting of the PFA to order.

0:27

Please call the roll.

0:31

To establish a quorum.

0:33

Thank you.

0:35

Vice Chair Guiana.

0:38

Here.

0:40

Member Jennings.

0:42

Here.

0:44

Member Hernandez.

0:46

Here.

0:48

Member Titherington is currently absent.

0:54

And Chair Shaneer.

0:56

Here.

0:57

Thank you.

0:57

All right.

0:58

I've asked Leslie Fritchie if she would uh do the land acknowledgement and the pledge of allegiance if people would like to stand.

1:08

Yes.

1:09

Thank you, Chair Shnir.

1:11

Please rise for the opening acknowledgements in honor of Sacramento's indigenous people and tribal lands.

1:18

To the original people of this land, the Nia Son people, the Southern Maidu, Valley and Plains Meywalk, Padwin Wintoon peoples, and the people of the Wilton Rancheria, Sacramento's only federally recognized tribe.

1:36

May we acknowledge and honor the Native people who came before us and still walk beside us today on these ancestral lands by choosing to gather together today in the active practice of acknowledgement and appreciation for Sacramento's indigenous peoples history, contributions, and lives.

1:58

Thank you.

2:00

So on the Pledge of Allegiance.

2:09

And to the Republic for which it stands.

2:12

One nation under God, indivisible with liberty and justice for all.

2:20

Thank you.

2:21

Thank you, Leslie.

2:22

Um, let's go ahead and move on to the consent calendar.

2:27

Uh any questions or comments on the consent calendar.

2:33

Okay, seeing none, is there a motion?

2:36

So move.

2:37

The motion by Mr.

2:38

Jennings, uh second by Mr.

2:40

Gira.

2:41

Please go ahead and call the roll.

2:43

Thank you, Chairon, for the record.

2:45

We have no members of the public with their hands raised on the consent calendar.

2:50

Vice Chair Guiara.

2:52

Hi.

2:53

Member Jennings.

2:55

Yes.

2:56

Member Hernandez.

2:59

Hi.

3:00

Member Titherington.

3:04

Is absent.

3:05

And Chair Shaneer.

3:07

Hi.

3:08

Okay, let's move to our uh final item, uh, annual report.

3:13

And Miss Fritchie or Ms.

3:15

Smith, this is you, I believe.

3:18

Yes, I think I will turn it to my esteemed colleague, uh Sherry Smith, whose item this is.

3:26

Great, thank you very much.

3:28

Um this is the um report for fiscal year 2022.

3:35

Are you guys able to see my screen here with the annual report outline?

3:39

We are okay very concise annual report.

3:44

It is very concise.

3:46

Basically, these are the requirements that EIFD law um has us report on every year.

3:53

And um all of these items for fiscal year 21-22 are very quick and easy.

Discussion Breakdown — Share of Meeting
Procedural█████████████████████████████████████████████56%
Budget and Finance█████████████████████████31%
Economic Development██████████13%
Summary of Proceedings

Aggie Square EIFD Public Financing Authority Special Meeting – June 21, 2022

The Aggie Square Enhanced Infrastructure Financing District Public Financing Authority held a special teleconference meeting on Tuesday, June 21, 2022, at 10:00 a.m., in compliance with AB361 and the City of Sacramento's COVID-19 emergency declaration. The authority considered routine consent items and a public hearing on the FY2021/22 Annual Report and FY2022/23 Budget. All four attending members voted unanimously on both motions; Member Joany Titherington was absent.

Consent Calendar

  • Item 1 – First Amendment to Master Funding Agreement for Aggie Square Phase 1: Passed a motion authorizing the Chair or the Chair's designee to execute the First Amendment to the Master Funding Agreement with the Regents of the University of California; Wexford Development, LLC assignees (AS LSTE East Owner, LLC, AS MUIR Owner, LLC, AS LSTE West Owner, LLC, AS P6 Owner, LLC, and AS LLL Owner, LLC); the City of Sacramento Aggie Square Enhanced Infrastructure Financing District; and the City of Sacramento.
  • Item 2 – Official City of Sacramento Land Acknowledgement: Received and filed.
  • Item 3 – Teleconferencing Meetings During the COVID-19 State of Emergency: Received and filed.

Public Comments & Testimony

  • No members of the public spoke during the meeting. The City Clerk reported no raised hands for the consent calendar or the public hearing item.

Discussion Items

  • Item 4 – Fiscal Year (FY) 2021/22 Annual Report and FY2022/23 Budget: Staff from the Department of Finance presented the annual EIFD report. No projects were funded in FY2021/22, and no construction has commenced; construction is expected to begin in fall 2022. No tax increment was received in FY2021/22; the first tax increment payments are expected in the next fiscal year. For FY2022/23, approximately $1,862 in tax increment is anticipated, reflecting a 2% annual increase and the vehicle in lieu fee. Staff recommended moving all funds to fund balance for the year and making no amendments to the Aggie Square Infrastructure Financing Plan, noting no modification requests from UC Davis or the developer.

Key Outcomes

  • Consent Calendar vote: Unanimous (4-0, with Titherington absent) to adopt the Consent Calendar as presented.
  • Public Hearing vote: Unanimous (4-0, with Titherington absent) to close the public hearing and adopt the FY2021/22 Annual Report, adopt the FY2022/23 revenue and expense budget, and find that no amendments to the Aggie Square Infrastructure Financing Plan are necessary.
  • The meeting adjourned at 10:11 a.m.

Meeting Transcript

Chair Staff is ready when you are. Great. Let's go ahead and call this meeting of the PFA to order. Please call the roll. To establish a quorum. Thank you. Vice Chair Guiana. Here. Member Jennings. Here. Member Hernandez. Here. Member Titherington is currently absent. And Chair Shaneer. Here. Thank you. All right. I've asked Leslie Fritchie if she would uh do the land acknowledgement and the pledge of allegiance if people would like to stand. Yes. Thank you, Chair Shnir. Please rise for the opening acknowledgements in honor of Sacramento's indigenous people and tribal lands. To the original people of this land, the Nia Son people, the Southern Maidu, Valley and Plains Meywalk, Padwin Wintoon peoples, and the people of the Wilton Rancheria, Sacramento's only federally recognized tribe. May we acknowledge and honor the Native people who came before us and still walk beside us today on these ancestral lands by choosing to gather together today in the active practice of acknowledgement and appreciation for Sacramento's indigenous peoples history, contributions, and lives. Thank you. So on the Pledge of Allegiance. And to the Republic for which it stands. One nation under God, indivisible with liberty and justice for all. Thank you. Thank you, Leslie. Um, let's go ahead and move on to the consent calendar. Uh any questions or comments on the consent calendar. Okay, seeing none, is there a motion? So move. The motion by Mr. Jennings, uh second by Mr. Gira. Please go ahead and call the roll. Thank you, Chairon, for the record. We have no members of the public with their hands raised on the consent calendar. Vice Chair Guiara. Hi. Member Jennings. Yes. Member Hernandez. Hi. Member Titherington. Is absent. And Chair Shaneer. Hi. Okay, let's move to our uh final item, uh, annual report.

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