RES 347 Draft 01 2006-2008 - Laserfiche WebLink

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PAKT I: THE CFD REVIF,W COMMITTEE AND THE CFD REVIEW PROCESS A. THE CFD KEVIEW COMMITTEE Each proposed CFD shall be evaluated by the Administration's Community Facilities llistrict Review Committee (the "Committee"), which shall include the following officials or their respective designees: the Managing Director, the Finance Uirector; the Planning Director; the Director of Public Works; and the Corporation Counsel. The Committee shall be chaired by the Finance Director or his/her designee. The Committee shall review each proposed CFD for compliance with the requirements of Chapter 32 and these administrative guidelines. Each proposed CFD will be reviewed initially prior to consideration by the County Council of the Resolution of Intention (the "ROI") authorizing the institution of proceedings for the formation of the CFD, and again if necessary prior to consideration by the County Council of the Ordinance of Formation providing for the establishment of the CFD (the "Ordinance of Formation") and the Bond Ordinance providing for the issuance of bonds to finance special improvements relating to the CFD (the "Bond Ordinance"). B. INITIATION OF CFD REVIEW PROCESS 1. CFD Application. Each developer/landowner proposing the formation of a CFD (the "Applicant") will be required to submit a completed Application for CFD Financing (the "CFD Application") to the Department of Finance. 'l~he current form of CI'D Application is attached as Exhibit A hereto. Submission of the completed CFD Application will be required before the Applicant petitions the Council to commence proceedings for formation of the proposed CFD, with sufficient time allowed for the Committee to conduct its initial review of the proposed CFD. 2. Deposit of Funds. In addition, in connection with the processing of a CFD Application and as a condition to the taking of any action on the Applicant's petition, the Applicant will be required to deposit funds with the County to cover the costs and expenses incurred by the County in connection with its consideration and implementation of the proposed CFD, including a reasonable charge for administrative stat~f time, fees of the County's special consultants and out-of=pocket expenses of ~ The application procedure outlined in this Section applies specifically to CFD proceedings commenced upon petition by a developer/landowner. In the case of proceedings commenced by [he Council on its own initiative, the Committee will work cooperatively with the Council to develop and obtain the necessary information for the Committee's review of the proposed CFD. 3