Enhanced Infrastructure Financing District
The City of Placentia in partnership with the County of Orange has established an Enhanced Infrastructure Financing District (EIFD) near the City’s future Metrolink Station including the Old Town Placentia area and Transit Oriented Development Packing House District. The purpose of this district is to create a funding mechanism that can facilitate the construction of public infrastructure improvements in this area.
A portion of the property tax increment (the amount above the property taxes collected in the base year of 2019) that the City of Placentia and the County of Orange receive would be specifically restricted to pay for the infrastructure projects listed in the Infrastructure Financing Plan (IFP) at an estimated cost of $8.2 million. These infrastructure improvements include street improvements, pedestrian connectivity, and landscape and lighting upgrades. The establishment of the EIFD will not result in any new taxes or fees to the property owners in the EIFD boundaries or the City.
Documents related to Placentia Enhanced Infrastructure Financing District are provided below.
- Frequently Asked Questions
- Draft Infrastructure Financing Plan (IFP)
- Notice of Exemption: Infrastructure Financing Plan
- Placentia City Council Agenda Report Adopting and Appointing the Public Financing Authority - May 21, 2019
- Press Release: Placentia Partners with the County of Orange on the Establishment of EIFD - April 24, 2019
- County of Orange Agenda Report Adopting Resolution of Intent to Participate in Placentia EIFD - April 23, 2019
- Placentia City Council Agenda Report Adopting Resolution of Intent to Form EIFD - February 19, 2019
Documents and information pertaining to the Public Financing Authority's Meeting on July 30, 2019 can be viewed by clicking here.
Public Financing Authority (PFA)
The City Council has established a separate body, the Public Financing Authority (PFA), to oversee the creation of the EIFD and who is responsible for the adoption of the final IFP. The PFA will be responsible for the issuance of the bonds in the future as well. On August 11, 2020, the Placentia City Council approved Resolution No. R-2020-52 which formally announced and set forth the future PFA public hearing dates in order to comply with the current EIFD statue and achieve authorization to issue EIFD debt. Assembly Bill No. 116 (AB 116) was enacted to authorize the PFA to issue bonds without submitting a proposal to the voters and requires the PFA to hold 3 public hearings on an enhanced infrastructure financing plan
The City Council established September 2, 2020, at 5:00 p.m. or as soon as possible thereafter as the matter may be heard, at the Council Chambers, 401 E. Chapman Avenue, Placentia, California, as the date, time and place, when and where the PFA will conduct a meeting to present the draft IFP for Placentia EIFD, answer questions about the IFP for the Placentia EIFD, and consider comments about the IFP for the Placentia EIFD.
September 2, 2002 Meeting
PFA Public Hearing
The City Council establishes October 14, 2020, November 18, 2020 and January 6, 2021, at 5:00 p.m. or as soon as possible thereafter as the matter may be heard, at the Council Chambers, 401 E. Chapman Avenue, Placentia, California, as the dates, time and place, when and where the PFA will conduct a public hearing on the IFP for the Placentia EIFD.
October 14, 2020 Public Hearing Meeting
Should you have questions about Placentia EIFD, you may contact Assistant to the City Administrator, Jeannette Ortega at (714) 993-8264 or by email at firstname.lastname@example.org.