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Riverside Unified approves CFD formation and Measure O bond issuance as board hears developer presentation
Summary
The board unanimously approved a resolution to form CFD No. 42 to finance developer fees for a nearby housing project, authorized issuance of $40 million in Measure O Series D bonds and approved a general‑obligation refunding to save taxpayers money; members discussed affordable‑unit treatment and schedule for hearings.
The Riverside Unified School District board voted unanimously Aug. 21 to advance a package of financing actions, including the intention to form Community Facilities District (CFD) No. 42, authorization to issue the next $40 million series of Measure O bonds and a refunding of existing general‑obligation debt.
Assistant Superintendent Williams and financial advisor Adam Bauer presented CFD No. 42, a developer‑requested financing vehicle for a Century Communities project located off the 91 Freeway near Van Buren. The proposal covers 141 single‑family…
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