Board approves initial formation of CFD 21 and moves to purchase 13+ acres from Pearson Trust
Loading...
Summary
San Marcos Unified unanimously approved initial actions to form Community Facilities District No. 21 (developer mitigation estimated to generate ~$2.3M in facility funds) and authorized purchase of about 13.5 acres at 700 Atterbury Drive from the Paul Pearson Trust; all related resolutions passed by voice vote Feb. 12.
SAN MARCOS, Calif. — At its Feb. 12 meeting the San Marcos Unified School District board unanimously approved a package of resolutions to begin formation of Community Facilities District (CFD) No. 21 and also authorized a purchase agreement to acquire just over 13 acres used as part of Double Peak School.
CFD formation: District staff said the proposed CFD would serve a Coleridge development of 69 single‑family homes that feed Carillo Elementary, San Elijo Middle and San Marcos High; the CFD would assess a mitigation payment equivalent to 130% of the district's developer fees and is estimated to generate about $2.3 million for school facilities — approximately $460,000 more than standard developer fees, staff said. The board moved and approved the funding agreement and initial resolutions (resolutions 16–19) to proceed with formation; motions were moved by Member Martin and seconded by Member Herrick and carried by unanimous voice vote.
Property acquisition: The board also approved a resolution authorizing the district to complete a purchase of property used for part of Double Peak School from the Paul Pearson Trust (700 Atterbury Drive). Staff explained the district has used the property since 2014 under an easement and previously paid $840,000; after a negotiated acreage reduction to preserve the family's home, the purchase price was reduced to the amount previously paid and no additional funds were required. Trustees voted to adopt the resolution authorizing execution of documents to close escrow.
Votes and next steps: The board adopted all CFD‑related resolutions and the purchase‑approval resolution by voice vote with no recorded opposition. Staff and consultants will proceed with the formation process for CFD No. 21 and with closing steps for the Pearson property per the adopted resolutions.
Why it matters: CFD proceeds and the purchased acreage are intended to fund and secure facilities tied to enrollment and development trends in the district; the motions complete key procedural steps required before forming a CFD and incurring bonded indebtedness as described in the resolutions.
