RES 347 Draft 01 2006-2008 - Laserfiche WebLink

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2. Additional Discretionary Review. To the extent deemed necessary or appropriate by the Committee in its discretion, each proposed CFD will be subject to further review by the Committee, prior to submission of the Ordinance of Formation and the Bond Ordinance to [he County Council, for the following purposes: a. To review the principal components of the CFD and CFD bonds to be authorized in relation to the requirements of Chapter 32 and the review criteria set forth herein, to the extent that such matters were not fully addressed in the initial review process; and b. If applicable, to consider any significant changes in relevant facts or circumstances subsequent to the completion of the initial review process. 1). CONSULTANTS The Committee may seek and rely upon the advice of special consultants retained by the County in connection with the Committee's review of proposed CFDs. All such special consultants shall be independent of the Applicant. The selection of such special consultants will be made pursuant to the County's consultant selection procedures for bond issues (which are applicable to CFD bonds). Accordingly, the selection of special consultants will he made solely by the County in its discretion. Typically, County will retain the following special consultants in connection with the Rirmation of CFDs and issuance of CFD bond issues: 1. Special Tax Consultant. A special tax consultant will be retained by the County to collect and analyze relevant information on the tax base in the CFD, advise the County regarding appropriate tax calculation and allocation methods to support the costs of the proposed special improvements and related costs of the CFD and the CFD bonds, and prepare the RMA reflecting the tax calculation and allocation methods to be implemented. (See Part ILB for a discussion oC RMAs.) 2. Appraiser. An appraiser will be retained by the County to determine the value of the properties within the CFD, and to prepare the MAI appraisal report(s) on such value for purposes of Chapter 32, Section 32-18, and for bond mazketing purposes. At its discretion, the County may permit the appraisal to be prepared by an appraiser not appointed by the County, bul the County reserves the right in such instances to retain its own appraiser to perform an independent review of the appraisal. (See Part iLC for a discussion of relevant appraisal criteria.) 3. Market Absorption Consultant. In most cases, the County will retain a market absorption consultant to analyze and report on the rate at which the properties in the CFD which are subject to a special tax are expected to he sold or leased to end users. As necessary, the market absorption consultant will also provide 5