Palmdale seeks applicants for one vacancy on the EIFD Public Financing Authority

PALMDALE – The city of Palmdale is accepting applications for one public member to serve on the Palmdale Enhanced Infrastructure Financing District Public Financing Authority for an initial term of two years.

Under Enhanced Infrastructure Financing District (EIFD) law, the Palmdale EIFD Public Financing Authority is the governing Board of the Palmdale EIFD. Initially and pursuant to EIFD law, the Palmdale EIFD Public Financing Authority (PFA) membership shall include two City Councilmembers and one public member. All members of the Board serve at the pleasure of the City Council, and any member may be removed, with or without cause, by a majority vote of the City Council. Meetings are held as needed.

To qualify for the board, potential members must reside or own a business in Palmdale. Experience working on public infrastructure projects, public finance, and municipal bonds, or understanding construction is desired but not required.

The Public Financing Authority directs the preparation of an Infrastructure Financing Plan for the Palmdale EIFD. The Plan includes tax increment revenue projection updates, infrastructure to be financed with Palmdale EIFD funds, caps to the maximum tax increment revenue and bond authorization, and district formation and election cost information. The PFA is ultimately responsible for preparing and adopting an Infrastructure Financing Plan for the Palmdale EIFD. The PFA is also responsible for the issuance of future bonds for the Palmdale EIFD.

As part of the final selection process, applicants will be required to pass a Livescan fingerprint submission via the California Department of Justice. If appointed, a Statement of Economic Interests Form 700 will be required. Interested individuals may apply online at www.cityofpalmdale.org/EIFD by the deadline date of February 14, 2023, at 6 p.m.

For more information, contact the City Clerk’s office at 661-267-5151.

[Information via news release from the city of Palmdale.]

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