Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Wildomar council authorizes CFD bond issuance for Avalino and forms two new CFDs for KB Home development
Summary
Council authorized special-tax bond issuance for CFD 2023-1 (Avalino) and approved formation and landowner elections for CFD 2025-1 (Chameleia) and CFD 2025-S (services). Bond proceeds and special-tax levies will be paid by properties in each CFD, not by the city’s general fund.
The Wildomar City Council on Jan. 14 authorized a special-tax bond issuance tied to Community Facilities District (CFD) 2023-1 (Avalino), and completed public hearings and landowner elections to establish CFD 2025-1 (Chameleia) and CFD 2025-S (services) for a KB Home development.
Finance Manager Adam Jance presented the Avalino bond parameters: proposed principal of about $10.7 million with a 30-year maturity, interest at approximately 5.05%, and estimated bond proceeds of about $9.5 million after issuance costs. Jance emphasized that the bonds are secured by special taxes levied on…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
