Enhanced Infrastructure Financing District
The City of Placentia has initiated a process to establish 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.
Once established, 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.
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.
Documents related to Placentia Enhanced Infrastructure Financing District are provided below.
- Frequently Asked Questions
- Draft Infrastructure Financing Plan (IFP)
- 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
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 email@example.com.