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Chino council initiates formation of 'The Meadows' CFD to finance infrastructure for Tri Pointe Homes development
Summary
Council approved resolutions of intention to form Community Facilities District 2026‑1 ("The Meadows") to finance infrastructure and services for an approximately 516‑home Tri Pointe Homes project; proposed special taxes estimate ~$1.9M annually and bond capacity of roughly $24.6M.
The Chino City Council on Jan. 20 approved initial resolutions to form Community Facilities District (CFD) 2026‑1, "The Meadows," for a Tri Pointe Homes residential project. The action authorizes staff to proceed with formation steps, public hearings and a March 3 election schedule.
What the CFD would do: Bond counsel Brad Neal outlined that the CFD would finance public improvements and services through two special taxes levied on homes within the district. "Special Tax A" (facilities) is a static, square‑footage‑based charge estimated at about $3,280–$4,395 per home and not ad valorem; Special Tax B (services) is estimated at approximately $572–$702 per home annually and may escalate by the consumer price index up to 7% per year. Based on the developer's preliminary pricing and the district build‑out estimate of roughly 516 single‑family homes, staff estimated aggregate annual special‑tax revenue of about $1.9 million and authorized bond capacity tied to Special Tax A around $24.6 million (subject to market conditions and final authorization).
Maps and next steps: Staff presented maps showing three improvement areas inside the proposed CFD boundaries (East of West Preserve Loop and north of Pine Avenue). The ordinance and formation documents will return to council in 30–60 days with rate and method details and a public hearing and election are tentatively scheduled for March 3.
Financial safeguards: Neal emphasized that developer reimbursements for front‑funded infrastructure would be limited to amounts available from bond proceeds and special taxes; there is no general‑fund backstop for developer costs. The council adopted resolutions of intent and authorized the city manager to execute related documents to continue the process.
Outcome: The council approved the initiation of CFD formation (resolutions of intention and authorization to proceed) by unanimous vote with the mayor absent. Staff will return with formation documents, a proposed bond issuance schedule tied to build‑out and further financial details.
