Board reviews school facilities actions for Village 7; Melrose CFD rate adjusted to $10.58 per square foot

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 applies only to new residential construction and does not change charges for existing homes. A roll-call vote recorded Member Dexter “Yes,” Member Freeman “Yes,” and Member Prophet “Yes;” the motion passed. Staff also presented a resolution supporting continued district applications under the State School Facilities Program and updating authorized representatives after a retirement. Additionally, the board considered a resolution identifying project savings from past state-funded projects (Lincoln High School new construction modernization and Glen Edwards modernization) and designating those savings for high-priority capital outlays, including Glenn Edwards phase 2 and other facilities work, per Education Code and State School Facilities Program rules. Separately, staff outlined a funding path for the new Village 7 school (Liberty at Lincoln), describing a facilities agreement among the city, the district, and the developer (Lincoln Land Holdings / Lewis Development) and an associated financing agreement with the California Municipal Finance Authority (CMFA) to form a CFD and provide BOND-like (BOLD) school funding. Staff recommended approving a resolution to authorize entering the BOLD CFD agreement with CMFA; the board considered the recommendation during the meeting. Staff noted the district has begun design for the Village 7 school and will start a community naming process; the developer requested the word “Liberty” be included in the school name as part of the partnership. No immediate change to existing taxpayers was noted beyond the Melrose rate adjustment.