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Page 2 of 2 <br />Public Works “Work Session Staff Report” 2026 <br />DISCUSSION: <br />The Department of Commerce conducts independent financial feasibility reviews with <br />independent contractors. The program is intended to ensure that local decision makers <br />have access to objective and timely analysis of the financial feasibility of the project. The <br />review is to examine the potential costs to be incurred by the Public Facilities District and <br />the adequacy of revenues or expected revenues to meet those costs. It is typical for the <br />Department of Commerce to enter in interlocal agreement for cost-recovery agreement of <br />the review. Funding for this agreement was approved through the county sales and use <br />tax fund. Commerce contracted with Johnson Consulting to conduct the financial <br />feasibility review. <br /> <br />A final financial feasibility review was conducted by Johnson Consulting and a final <br />report has been provided (Exhibit A). The financial review examines the potential costs <br />in and revenues in the formation of the PFD. This independent review considered three <br />potential projects which may be advanced if the PFD is formed. It was determined that <br />the formation of the PFD appears to be a viable funding mechanism to support the <br />proposed projects. <br /> <br />Formation of the PFD will require BOCC approval. This includes establishing by <br />resolution the PFD and appointment of Board of Directors. <br /> <br />FISCAL IMPACTS: <br />Financial feasibility report funded through Fund 108, Public Facilities. <br /> <br />ATTACHMENTS: <br />Exhibit A: Financial Feasibility Review