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Board reviews school facilities actions for Village 7; Melrose CFD rate adjusted to $10.58 per square foot
Summary
Trustees considered multiple facilities-related resolutions Aug. 5, including a yearly adjustment to the Melrose CFD rate to $10.58 per square foot for new residential construction and actions tied to state school facilities funding and a Community Facilities District (CFD) financing agreement for the new Village 7 school.
At the Aug. 5 meeting, staff recommended several facilities and financing actions tied to ongoing construction and planning for Village 7 and other capital projects. One approved item was an annual adjustment to the Melrose community facilities district (CFD) rate, driven by the California Construction Cost Index. Staff reported a 2.3% increase over the past calendar year, bringing the adjusted rate to $10.58 per square foot for new residential units, capped at 2,200 square feet per unit. The presenter clarified this rate…
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