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Adelanto hears plan for tax‑exempt financing to build Steelwave industrial park
Summary
A public‑finance consultant outlined a three‑program plan (CFD, EIFD, impact‑fee) to fund roads, sewer, water and other infrastructure for a phased Steelwave Industrial Park in northeast Adelanto; staff and council pressed for CEQA, timelines and protections for taxpayers and residents.
David Taussig, a public‑finance consultant engaged by developer Steelwave LLC, told the Adelanto City Council on Aug. 14 that the company plans a multi‑phase industrial park covering hundreds of acres and up to 6,000,000 square feet of buildings, and proposed three financing tools to build off‑site and on‑site infrastructure without using the city’s general fund.
Taussig described the three tools as: (1) a developer‑supported community facilities district (CFD, commonly called Mello‑Roos) in which the developer agrees to an additional tax (he cited roughly $0.60 per square foot) on its own property to support a 30‑year bond issue; (2) an enhanced…
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