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Resident urges council to revisit CFD 2004-3 payouts, claims remaining funds could resolve delinquencies
Summary
During public comment, Mister Rausch told the council developers were reimbursed about $3.6 million for a 2004 Community Facilities District and alleged the city paid roughly $2.0 million, with additional payouts to successors despite delinquencies; he urged the city to use remaining funds to settle outstanding delinquencies.
A member of the public told the Imperial City Council at its March 4 meeting that the city may have authority and available funds to address outstanding delinquencies in Community Facilities District (CFD) 2004‑3.
Mister Rausch summarized his review of the CFD’s formation and subsequent payments, saying the original acquisition agreement anticipated roughly $3.6 million in reimbursements to developers for public improvements.…
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