Public Financing Authority: Placentia Enhanced Infrastructure Financing District
California Senate Bill 628 and Assembly Bill 313, created the Enhanced Infrastructure Financing District (EIFD), which is governed by the Public Financing Authority, to finance public capital facilities or other specified projects of communitywide significance that provide benefits to the district or the surrounding community.
The Public Financing Authority consists of two City Council Members, one County Board of Supervisors and two public members, who have been appointed and approved the Mayor and the City Council.
Regular meetings will be scheduled based on the progress of the Placentia Enhanced Infrastructure Financing District.
Meeting Agendas and Staff Reports
To view the meeting agendas and staff reports for the Public Financing Authority, please click here.
Powers and Duties
Section 53398.66 of the Government Code: The public financing authority shall conduct a public hearing prior to adopting the proposed infrastructure financing plan. The public hearing shall be called no sooner than 60 days after the plan has been sent to each affected taxing entity. In addition to the notice given to landowners and affected taxing entities pursuant to Sections 53398.60 and 53398.61, notice of the public hearing shall be given by publication not less than once a week for four successive weeks in a newspaper of general circulation published in the city or county in which the proposed district is located. The notice shall state that the district will be used to finance public facilities or development, briefly describe the public facilities or development, briefly describe the proposed financial arrangements, including the proposed commitment of incremental tax revenue, describe the boundaries of the proposed district and state the day, hour, and place when and where any persons having any objections to the proposed infrastructure financing plan, or the regularity of any of the prior proceedings, may appear before the public financing authority and object to the adoption of the proposed plan by the public financing authority.
53398.69. (a) At the conclusion of the hearing, the public financing authority may adopt a resolution proposing adoption of the infrastructure financing plan, as modified, and formation of the enhanced infrastructure financing district in a manner consistent with Section 53398.68, or it may adopt a resolution abandoning the proceedings.
For additional information on Placentia EIFD, please visit www.placentia.org/eifd.