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Council approves budgets and levies for multiple CFDs and moves to form Saddleback community facilities districts
Summary
Peoria’s council held public hearings and approved final budgets and tax levies for four Community Facilities Districts and passed a resolution to form four of five Saddleback CFDs, setting a $2.65 target tax rate and bond issuance safeguards.
The Peoria City Council on June 3 completed public hearings and unanimous votes to adopt final budgets and tax levies for several community facilities districts (CFDs) and approved formation actions for a multi‑district Saddleback master plan.
Staff explained the routine CFD public‑hearing process and then summarized each district’s purpose: to enable bond financing of public infrastructure that serves specific developments. Development and finance staff described the Mystic CFD (formed 2020) with a proposed tax rate of $2.65 per $100 of limited assessed valuation, Vistancia North (also formed 2020) with a proposed combined rate targeting $2.65,…
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