Discussion and possible action to approve RES. 2023-68 amending the District Development, Financing Participation and Intergovernmental Agreement with Vistancia North Community Facilities District. This resolution amends an infrastructure project in Exhibit B that is eligible for Community Facility District reimbursement.

The District Development, Financing PArticipation and Intergovernmental Agreement with Vistancia North Community Facility District was approved among the Developer, the District, and the City in June of 2020.  That agreement was assigned to Vistancia Development LLC in the First Amendment to the Financing Agreement in June of 2021.  Exhibit B of the agreement outlines numerous infrastructure projects that shall be eligible for reimbursement under the CFD.  One of those projects is the water and wastewater crossing of the Central Arizona Project (CAP) canal.  In the current agreement, the crossing is a boring under the canal.  CAP has indicated this not their approved method of crossing and require lifting and pumping through pipes over the top of the canal (see redline amendment to Exhibit B attached).  This resolution amends the Agreement to modify the details of the crossing infrastructure.

The Financing Agreement was adopted by the City Council and District Board on June 16, 2020.  The First Amendment to the Agreement was adopted by Council on June 15, 2021.  

Move to adopt RES. 2023-68 approving the Second Amendment to the District Development, Financing Participation and Intergovernmental Agreement (Vistancia North Community Facility District).