To: Board of Directors
From: Wendt Ranch Geological Hazard Abatement District
Report Title: Wendt Ranch GHAD Resolution No. 2024/01 (Annual Budget)
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
ADOPT Wendt Ranch GHAD ("GHAD") Resolution No. 2024/01 adopting an assessment levy less than the assessment limit for FY 2024/2025 for Wendt Ranch, Alamo Creek, and Intervening (Monterosso) developments within the GHAD, adopting the GHAD budget for Fiscal Year 2024/2025, and updating the GHAD Manager payment limit pursuant to the Consulting Services Agreement as recommended by the GHAD Manager.
FISCAL IMPACT:
100% Wendt Ranch Geological Hazard Abatement District Funds.
BACKGROUND:
On February 12, 2002, the Contra Costa County Board of Supervisors adopted Resolution 2002/59 approving the formation of the Wendt Ranch Geologic Hazard Abatement District
("GHAD") and appointed itself to serve as the GHAD Board of Directors. On July 15, 2005, the GHAD Board of Directors ("Board") adopted Resolution 2005/437 approving the annexation of the Alamo Creek and Monterosso developments into the GHAD. The most recent annexation occurred on August 3, 2021 with the Board's adoption of Resolution 2021/03, which approved the annexation of the Somerset development into the GHAD.
As part of the preparation for the GHAD's FY 2024/2025 budget, the GHAD Manager reviewed the current GHAD reserves. As the GHAD has exceeded its target reserve rate of accumulation forecast estimate in the approved 2002 and 2005 Engineer's Reports for the Wendt Ranch, Alamo Creek, and Monterosso developments within the GHAD, staff is recommending an assessment levy less than the assessment limit for the Wendt Ranch, Alamo Creek, and Monterosso developments only for FY 2024/2025, and prepared a budget that reflects a lower assessment levy for FY 2024/2025.The GHAD Board on June 13, 2023 adopted an assessment levy less than the assessment limit for FY 202...
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