BOS-2026-41 : Adopt Resolution agreeing to the negotiated exchange of property tax revenues between the City of Los Altos and the Santa Clara County Central Fire Protection District.

The document outlines a resolution for the negotiated exchange of property tax revenues between the City of Los Altos and the Santa Clara County Central Fire Protection District. It details the fiscal implications, including no impact on the County General Fund and the mechanics of the property tax transfer, which is contingent on the approval of a proposed annexation by the Santa Clara County Local Agency Formation Commission (LAFCO). The resolution aims to ensure funding for fire and emergency medical services for residents of Los Altos if the annexation is approved.

Key points

• The resolution is for the exchange of property tax revenues between the City of Los Altos and Santa Clara County Central Fire Protection District.
• There is no impact on the County General Fund or property taxes paid by residents.
• The property tax exchange will transfer 34.64% of Post-Educational Revenue Augmentation Fund (ERAF) from the City to County Fire.
• The transfer is based on a base amount of approximately $9.8 million for FY 2025-2026.
• The proposed annexation is expected to take effect on January 1, 2027, with property tax reapportionment starting July 1, 2027.
• County Fire is projected to experience a funding gap of roughly $7.5 million in the first 12 years post-annexation.
• The City will transfer two City-owned fire stations to County Fire as part of the annexation.
• The resolution is necessary for LAFCO's approval of the proposed annexation.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

The source text indicates this attachment appears to be a draft document.

This resolution by the Board of Supervisors of Santa Clara County pertains to the negotiated exchange of property tax revenue between the City of Los Altos and the Santa Clara County Central Fire Protection District. It outlines the process for the annexation of Los Altos into the fire protection district and the associated property tax revenue transfer. The resolution includes provisions for the distribution of property taxes to County Fire and adjustments based on specific conditions related to the annexation.

Key points

• The City of Los Altos initiated proceedings for annexation into the Santa Clara County Central Fire Protection District.
• The Board of Directors of County Fire supported the annexation.
• County Fire has provided fire and emergency medical services to Los Altos since 1996.
• The resolution includes a monthly property tax revenue transfer of $945,000 from the City to County Fire until the fiscal year following the filing of jurisdictional changes.
• The allocation of tax revenues is contingent upon the completion of the annexation and approval by the Local Agency Formation Commission (LAFCO).
• The appropriation limit for County Fire will be adjusted upon completion of the annexation.

Limitations

• The resolution appears to be a draft as it contains placeholders for dates and voting results that are not filled in.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.