The Pittsburg City Council will consider issuing up to $25 million in special tax bonds to help pay for public improvements associated with the San Marco development. The bonds would be issued through Community Facilities District 2009-01, which was created to finance infrastructure within San Marco. Proceeds would be used to satisfy the city’s remaining obligations for facilities constructed by the Seeno Companies and later acquired by the city. The City Council will consider the bond issuance during its meeting Monday, Aug. 17 at 7 p.m. at Pittsburg City Hall.
© Copyright 2007 – 2025 Claycord News & Talk
A $25M bond for Pittsburg residents to pay for?! No way – developers needs to foot the bill or just stop it in it’s tracks now….
Mr. Mayor of Claycord,
.
Do you happen to know if all of Pittsburg falls under Community Facilities District 2009-01 or is it a part of or all of the San Marco development?
Black Knight – Community Facilities District (CFD) 2009-01 does not cover all of Pittsburg. It is specifically the San Marco CFD.
The City’s own documents formally call it “Community Facilities District 2009-01 (San Marco), City of Pittsburg.” The rate-and-method document says the special tax applies to parcels within CFD 2009-01, including property subsequently annexed into that district.
Pittsburg describes why it created the district: “to help fund public improvements in the San Marco development” constructed by Seecon Financial & Construction Co./Discovery Builders.
Thank you.