REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
July 26, 2022
FROM
LEONARD X. HERNANDEZ, Chief Executive Officer, County Administrative Office
SUBJECT
Title
Approve Contract with HR&A Advisors, Inc. for Tax Increment Financing Advisory Services
End
RECOMMENDATION(S)
Recommendation
Approve contract with HR&A Advisors, Inc., for Tax Increment Financing, and Enhanced Infrastructure Financing Districts, advisory services, in the amount of $600,000 for the period of July 26, 2022 through June 30, 2025.
(Presenter: Matthew Erickson, County Chief Financial Officer, 387-5423)
Body
COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Operate in a Fiscally-Responsible and Business-Like Manner.
Ensure Development of a Well-Planned, Balanced, and Sustainable County.
FINANCIAL IMPACT
This item will not result in the use of additional Discretionary General Funding (Net County Cost). The total cost of $600,000 is funded by Discretionary General Funding. Sufficient appropriation and revenue have been included in the Countywide Discretionary Fund's 2022-23 budget and will be included in future budgets.
BACKGROUND INFORMATION
Tax Increment Financing (TIF) districts provide a funding or financing mechanism to capture incremental property tax revenues collected within a designated district to fund infrastructure projects with community-wide benefits. The formation of these districts is often initiated by a city or county. TIF was originally an economic development tool used by redevelopment agencies (RDA) throughout California, enabled as part of the community Redevelopment Act that was passed in 1945 to assist local governments in eliminating blight through development, reconstruction, and rehabilitation. In 2012, the State of California dissolved the RDAs due to the perception that RDAs were capturing property tax revenues needed by other taxing entities/districts and that funds were not being spent pro...
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