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Council authorizes special‑tax bonds to fund Olson South Chandler infrastructure
Summary
Paso Robles approved resolutions Dec. 2 to authorize special-tax bond issuances for two Olson South Chandler improvement areas to reimburse infrastructure costs; staff said the debt is paid by affected property owners and carries no general-fund impact.
The Paso Robles City Council on Dec. 2 unanimously authorized special-tax bonds to reimburse infrastructure already built and planned within the Olson South Chandler specific plan.
Administrative Services Director Ryan Cornell said the specific plan anticipates about 1,200–1,300 homes and that community facilities districts (CFDs) were formed to finance backbone infrastructure. For Improvement Area 1 the prior maximum authorization was $21 million; current appraisals permit an initial issuance cap of roughly $13,420,000 with additional series possible as development progresses. Cornell said the bonds create an additional special-tax line on future property tax bills (appearing as a Mello‑Roos line) and estimated an effective rate around 1.9% for properties in the district.
Cornell emphasized the bonds impose no fiscal impact on Paso Robles’s general fund: the taxes are levied on parcels within the improvement areas and reimburse the developer for eligible infrastructure work; the city receives administrative fees for processing.
Council also approved a parallel resolution authorizing bonds for Improvement Area 2 (planning areas 4 and 5), where current bonding capacity was reported near $9,895,000 and future series are expected as the area develops. The council approved both authorizations by unanimous vote after brief council questions about tax appearances on future property bills and bond terms (council discussed terms including 30–35 years).
The council’s action directs staff to execute bond‑related documents, fiscal‑agent agreements and negotiated sale steps; staff said pricing and official statements would proceed in the weeks ahead.
