Developer seeks help of utility district, town | SierraSun.com
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Developer seeks help of utility district, town

Renee Shadforth

East West Partners, developer of the Old Greenwood and proposed Gray’s Crossing developments in the Truckee area, is offering the Town of Truckee $50,000 if it agrees to join a proposed joint facilities district.

The first in a series of public hearings on Truckee’s first community facilities districts, or Mello Roos districts, will be held tonight at 7 p.m. in the Truckee Donner Public Utility District boardroom.

The facility districts will assess the future residents of Old Greenwood and Gray’s Crossing roughly $3,000 per year for the water infrastructure in the planned communities and other improvements in the TDPUD boundaries.

East West Partners requested the formation of the facilities districts from the TDPUD for the planned communities in January. In August, the utility district board agreed to their formation.

With the facilities district, East West Partners benefits from lower-interest, longer-term bond financing that is usually only available to government agencies.

The developer has also asked the town to fund Old Greenwood’s roadway and storm drain infrastructure – estimated to cost $2 million – through a joint community facilities district with the TDPUD. East West Partners said it would give the town $50,000 toward a community benefit project if the town council agrees to join the facilities district.

The council will consider forming a joint agreement with the utility district for Old Greenwood’s roadway and storm drain infrastructure at Thursday night’s town council meeting at 6 p.m. at Truckee Town Hall.


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