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Council forms Community Facilities District 2025‑2 for West Park Promenade, approves related resolutions and bond issuance steps
Summary
Wildomar adopted formation and necessity resolutions for Community Facilities District (CFD) 2025‑2 (West Park Promenade), approved the election canvass and introduced an implementing ordinance; staff said the district would cover 12.27 acres for 191 single‑family homes and may issue up to $17 million in bonds once sufficient ownership diversity exists.
The Wildomar City Council approved the formation of Community Facilities District (CFD) 2025‑2, known as West Park Promenade, and adopted the procedural resolutions necessary to proceed with financing steps.
Heidi Shrader presented the district formation package, describing a 12.27‑acre site planned for approximately 191 single‑family homes. The district would finance infrastructure through a levy of special taxes and the city anticipates the potential sale of bonds not to exceed $17 million; staff said bonds would be sold once development reaches a level of ownership diversity that satisfies the district financing structure. Shrader also referenced joint community facilities agreements (JCFAs) with Lake Elsinore Unified School District and the Eastern Municipal Water District (EVMWD) that allow the developer to be reimbursed for infrastructure transferred to those agencies.
Heidi confirmed no written protests were received and the city clerk canvassed ballots provided by property owners; the council adopted resolutions establishing the district and declaring the necessity to incur debt, declared the election result as yes, and adopted the corresponding resolution of election results. The council then introduced ordinance 2025‑255 by title for first reading. All motions on the item carried 5–0.
No public testimony was offered during the hearing. City staff said they would file the certificate of election results and proceed with the next administrative steps needed to finalize district formation and financing.
