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Lincoln council OKs resolution of intent to form Joiner Ranch East CFD, sets Aug. 13 hearing
Summary
The Lincoln City Council on Tuesday unanimously approved resolutions of intent to form a Community Facilities District (CFD) for Joiner Ranch East and to incur bonded indebtedness of up to $23,500,000, calling a public hearing for Aug. 13.
The Lincoln City Council on Tuesday unanimously approved resolutions of intent to form a Community Facilities District (CFD) for Joiner Ranch East and to incur bonded indebtedness of up to $23,500,000, calling a public hearing for Aug. 13.
The action, introduced as item 13(a), covers roughly 198 residential units on property being developed by Taylor Builders and contracted with D.R. Horton, according to bond counsel Brian Forbath. Forbath said the proposed special-tax rates would range from $3,464 to $4,016 per unit, based on home size, and “the taxes do escalate each year annually by 2%.”
The resolution of intent directs staff to hold the public hearing and to proceed with the steps required to form the CFD if the council elects to move forward after the August hearing. Forbath said a landowner election would follow; because there are no registered voters inside the CFD, the landowners would be the eligible voters and would need a two‑thirds vote to confirm special taxes and any bond issuance.
City staff said the developer has deposited $70,000 to cover formation costs; Forbath said those costs would be reimbursed to the developer if bonds are later issued. The council and staff also discussed a later “acquisition agreement” that would set whether the city levies PAYGo (pay‑as‑you‑go) special taxes to reimburse the developer for infrastructure the city acquires.
Council members asked staff to schedule a policy discussion in July on CFD structure and PAYGo mechanics ahead of the August public hearing. Staff said that a more detailed acquisition agreement and final rate tables would be brought back at the public hearing.
The motion to adopt the resolutions of intent passed on a voice/roll call vote with Council Member Beatty, Council Member Pearl, Mayor Pro Tem Brown, Council Member Eklund and Mayor Andreatta recorded as voting yes.
Why it matters: CFDs are a common way for cities to fund developer‑built public improvements by levying special taxes on properties within a district. The Aug. 13 hearing will be the point at which the council, property owners and public can review the final rate structure and a draft acquisition agreement before the city decides whether to form the CFD and issue bonds.
What’s next: The council will hold the noticed public hearing Aug. 13. If it decides to form the CFD, a landowner election and the acquisition agreement and bond sizing would follow.
