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Council forms Creekview Phase 5 CFD after unanimous special-election tally
Summary
The City Council held a public hearing and approved formation of Creekview Phase 5 Community Facilities District No. 1 to finance roads, utilities, parks and related facilities within a 58-acre area of the Creekview Specific Plan.
The City Council held a public hearing and approved formation of Creekview Phase 5 Community Facilities District (CFD) No. 1, adopting a package of resolutions and introducing an ordinance to levy special taxes.
Finance Director Scott Pettingill told the council the district covers about 58 acres within the Creekview Specific Plan, would ultimately include 285 low-density residential units and will fund transportation, potable and non-potable water system improvements, drainage and wastewater upgrades, solid waste improvements, park and open-space enhancements, and other necessary utility work.
Pettingill said the district may fund both capital facilities and ongoing maintenance or services for those facilities with a minimum useful life of five years, and may establish replacement reserves. He told the council there are no planned future annexations for the district and the boundaries shown are final.
The clerk reported the special-election results in which all 58 eligible voters returned ballots in favor: 58 yes votes and 0 no votes. Following the hearing the council adopted a set of resolutions establishing the CFD, determining the need to incur bonded indebtedness, calling and then declaring the election results, and directing recordation of the special tax lien. The council then introduced for first reading an ordinance that would levy the special taxes within Creekview Phase 5 CFD No. 1.
Council discussion included questions about the number of units in the Creekview plan overall; the council noted that Creekview as a larger area will contain additional units beyond the 285 covered by Phase 5. The council took the actions listed by motion and roll-call vote; the clerk recorded yes votes and the motion passed.
City staff said revenue from the CFD’s special tax will be used to finance the identified public facilities for the Creekview Phase 5 area and that bond issuance or other financing would follow the formation steps approved by the council.
