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Estrella Mountain Ranch boards approve formation of Montecito Assessment District No. 4
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Summary
At a joint Oct. 6 meeting, the community facilities districts covering Estrella Mountain Ranch unanimously adopted resolutions to form Montecito Assessment District Number 4, order construction work and levy assessments to reimburse infrastructure costs estimated at about $11.3 million.
The joint boards of the community facilities districts for Estrella Mountain Ranch and associated CFDs in Goodyear, Arizona, voted unanimously Oct. 6 to form Montecito Assessment District Number 4 and to approve related financing and assessment actions.
The boards adopted a feasibility report and a resolution of intention to form the district, separately ordered public infrastructure work already underway to be performed as described in the report, and approved the levy and assessment diagram for the district. The actions implement a landowner-requested special assessment district intended to reimburse construction of collector roads and related infrastructure within a roughly 172-acre area planned for about 508 single-family lots.
Why it matters: The district will issue special assessment revenue bonds under Title 48, Chapter 4, Article 6 of the Arizona Revised Statutes to reimburse the acquisition and construction of road improvements and related costs. The moves set the legal and financing framework so bonds may be issued after completion and acceptance of the infrastructure.
Board members opened a public hearing on the feasibility report before taking the three separate actions. A staff presenter described the scope and financing. The infrastructure to be reimbursed includes about 1,401 linear feet of an existing portion of Calistoga Drive, roughly 2,700 feet of Calistoga Drive currently under construction, and about 4,000 linear feet of West Mountain Vista Drive Phase 2 proposed to complete the loop through the district. The presenter characterized these figures and the financing plan as estimates.
The financing plan in the feasibility report estimates approximately $9.8 million for acquisition of the improvements, about $1.2 million for a reserve and interest, and about $305,000 for issuance and underwriting costs, for a total estimated program cost of about $11.3 million. The sources listed in the report include roughly $10.61 million of bonds and a landowner contribution of about $600,000, primarily to cover underwriting and issuance costs. The report estimates an assessment of about $21,000 per lot over the life of the bonds; the annual amount to be charged per year will be determined when bonds are issued.
After the hearing, the boards took three votes: (1) to adopt EMR CFD Res. 2025-168 approving the feasibility report and declaring intent to form Montecito Assessment District No. 4; (2) to adopt EMR CFD Res. 2025-169 ordering the public infrastructure work performed as described in the feasibility report; and (3) to adopt EMR CFD Res. 2025-170 approving the levy of assessments and the assessment diagram for the district. Each resolution passed unanimously on voice vote; Councilmember Gillis is recorded as voting “aye” and participating by telephone.
No members of the public spoke during the Oct. 6 hearing. Board discussion on the items was brief; board members asked a question clarifying that the $21,000 assessment is per lot and applies to a single-family residence and that the $21,000 figure represents the amount over the life of the bonds rather than an annual amount. The boards noted bonds would be issued only after the infrastructure is completed and accepted.
The boards did not take final steps to issue debt at the meeting; issuance and the annual assessment amounts will be set later after completion and acceptance of the improvements and at the time bonds are marketed.
Votes at a glance: Adopted — EMR CFD Res. 2025-168: Approve feasibility report and declare intent to form Montecito Assessment District No. 4 (passed unanimously). Adopted — EMR CFD Res. 2025-169: Order public infrastructure work performed as described in the feasibility report (passed unanimously). Adopted — EMR CFD Res. 2025-170: Approve levy of assessments and assessment diagram for Montecito Assessment District No. 4 (passed unanimously).
For follow-up: bond issuance timing, final annual assessment amounts once bonds are priced, and the physical acceptance of the completed infrastructure before debt issuance.
