Goodyear board forms Montecito Assessment District No. 4; council approves feasibility report, orders work and levies assessments

The combined Community Facilities District board for Estrella Mountain Ranch held a public hearing Oct. 6 and unanimously adopted three resolutions to form Montecito Assessment District No. 4, order the infrastructure work and approve the assessment diagram. The actions were taken after a staff presentation describing the size, infrastructure and financing plan for the proposed special assessment district.

The nut graf: Staff told the board the Montecito Number 4 area comprises about 172 acres and will contain about 508 single-family lots. The district would reimburse construction for sections of Calistoga Drive and a segment of West Mountain Vista Drive to complete a loop. The staff estimate for acquisition, reserves, interest and issuance costs totaled about $11.3 million; bond proceeds were estimated at roughly $10.61 million with a landowner contribution of about $600,000 to offset issuance costs.

During the hearing staff explained the difference between community facilities districts (which use a secondary property tax for broader arterial infrastructure) and special assessment districts (which typically finance collector roads and levy assessments on individual parcels). Staff said the $21,000 figure shown in the feasibility report represents the estimated assessment per lot for the life of the bonds; the annual assessment amount will be determined when debt is issued.

Board actions: The board took three formal votes, each passing unanimously (per roll call indicating all members present; Councilmember Gillis participated by telephone). The resolutions were:

- EMR CFD Resolution 2025-168: Approve the feasibility report, declare the intention to form Montecito Assessment District No. 4 and declare that special-assessment revenue bonds will be used under Title 48, Chapter 4, Article 6 of the Arizona Revised Statutes.

- EMR CFD Resolution 2025-169: Order the public-infrastructure project described in the feasibility report to be performed.

- EMR CFD Resolution 2025-170: Approve the levy of assessments and the assessment diagram for the Estrella Mountain Ranch Community Facilities District.

Staff emphasized these were formation and approval steps; issuance of bonds would occur later, after acceptance of completed infrastructure and additional financing steps. Board members had no public speakers or opposition during the hearing.

Ending: With unanimous board approval, staff will proceed with the next steps in formation and with later debt issuance procedures once the infrastructure is complete and accepted.