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Folsom council forms overlay community facilities district for Russell Ranch 2; ballot returns unanimous approval
Summary
Council approved formation of Community Facilities District No. 21 (Russell Ranch 2), set maximum special tax ranges and called and canvassed a weighted ballot election; the single landowner vote returned 13–0 in favor and council introduced an ordinance to levy the special tax.
The Folsom City Council on June 24 took final steps to form Community Facilities District (CFD) No. 21, Russell Ranch 2 — an overlay district within the existing CFD 20 boundaries — and authorized levying a new special tax for a single parcel in the Russell Ranch development.
Stacy Timani, the city’s chief financial officer, told the council CFD 21 covers a single parcel in Phase 2, Village 5 of Russell Ranch and is intended to help fund a portion of backbone subdivision infrastructure previously funded by CFD 20. The new overlay district encompasses approximately 118 multifamily or low-density units within the original CFD boundary along White Rock Road and Empire Ranch…
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