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Council approves intent resolutions to form overlay Community Facilities District for Russell Ranch phase
Summary
The Folsom City Council voted May 13 to proceed with forming Community Facilities District 20‑1 (Russell Ranch 2), a small overlay CFD covering one parcel in Russell Ranch intended to fund a portion of subdivision infrastructure.
The Folsom City Council on May 13 approved resolutions to initiate formation of Community Facilities District (CFD) 20‑1, Russell Ranch 2, an overlay district to levy special taxes within a portion of the existing CFD 20 Russell Ranch area.
Stacy Timani, the city’s chief financial officer, explained the overlay was requested by Lennar Homes to finance a portion of subdivision infrastructure for Phase 2 Village 5 of Russell Ranch. The overlay includes one parcel with 118 multifamily low‑density…
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