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Superstition Vistas CFD No. 1 approves assessment area 5 to finance Davis Drive improvements
Summary
The Superstition Vistas Community Facilities District No. 1 on April 15 approved a feasibility report and an assessment diagram establishing Assessment Area 5. The board authorized assessing 172 residential lots at $5,000 each (totaling $860,000) to finance public infrastructure including a new street, Davis Drive.
The board of the Superstition Vistas Community Facilities District No. 1 approved a feasibility report and levied an assessment diagram for Assessment Area 5 during a special meeting on April 15, 2025. The district will assess 172 residential lots at $5,000 per lot, a total assessment amount of $860,000, to finance public infrastructure improvements including a newly built street named Davis Drive.
Zach Sakas, special counsel with Greenberg Traore, presented the feasibility report and described the proposed bond financing and the new improvements. “This has 172 residential lots that will be assessed for $5,000 each, very similar to the transactions previously considered by this board,” Sakas said. He told the board the improvements — including Davis Drive — have been accepted by the city as complete.
The feasibility resolution approved the district’s intent to acquire the described improvements, to form Assessment Area 5, and to permit the issuance of special assessment bonds to finance the work. A separate board resolution approved the assessment diagram and the $5,000-per-lot assessment after the district engineer confirmed that the individual lots will benefit from the improvements being financed.
The two resolutions were each moved, seconded and adopted by roll call. Each roll call recorded the same voting members and all votes were recorded in the affirmative. No public speakers testified during the public hearing on the feasibility report.
Why it matters: the board’s actions create the legal and administrative steps that allow special assessment bonds to be issued against the specified lots. The assessments attach to the lots in Assessment Area 5 and are intended to fund the public infrastructure the board identified.
Next steps: board staff and the district engineer will continue the assessment process; the board will hold a follow-up meeting to confirm assessments and, if appropriate, consider authorization for the sale of bonds.
