Title
HEARING - Consider recommendations regarding Summit View Reorganization (LAFCO No. 14-1) Tax Exchange Options, as follows: (EST. TIME: 30 MIN.)
a) Receive and file a report on the status of negotiations on a Tax Exchange Agreement between the County of Santa Barbara (County) and the City of Lompoc (City) as required by the Summit View Homes Reorganization (LAFCO File No. #14-1); and
b) Provide staff with further direction on one of the following options:
i) Option 1:
Return with a Tax Exchange Agreement that provides the City with approximately 14.05% of property taxes collected that is comparable to nearby parcels and the County with approximately 23.47%; or
ii) Option 2:
Continue negotiating a Tax Exchange Agreement that will be closer to revenue and expense neutral for the County and the City for Board consideration on or before June 17, 2014; or
iii) Option 3:
As permitted by Revenue and Taxation Code sections 99(b)(8) and 99(e)(2), authorize the County Executive Officer to seek an extension agreement with the CITY to allow the parties additional time to engage in the third-party consultant process, and if needed, the mediation and arbitration processes required by Revenue and Taxation Code section 99(e).
COUNTY EXECUTIVE OFFICER'S RECOMMENDATION: POLICY