Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
City approves refinancing of nine CFD bond issues, council says savings will reach property owners
Summary
Lake Elsinore approved resolutions to refinance about $89 million in outstanding Community Facilities District (CFD) bonds across nine districts; council and staff said the move will lower special taxes for up to 4,000 parcels and free capital for infrastructure projects.
The Lake Elsinore City Council voted 5-0 to approve a package of resolutions authorizing refunding of outstanding Community Facilities District (CFD) bonds, a refinancing that staff and the city’s financial advisor said will reduce costs for property owners and free money for capital projects.
The refinancing covers roughly $89 million in outstanding CFD bonds across nine CFD improvement areas including Canyon Hills, Rosetta Canyon, Serenity, Abajo Ranch, City Center Townhomes and Vizcaya. Mike Bush of Urban Futures, the city’s financial adviser, told the council the transaction is callable in September 2025 and current market conditions support refunding now.
“This…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
