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Board approves formation of CFD 2025‑1 and calls landowner election supporting up to $20 million in bonds
Summary
The Beaumont board held a public hearing and adopted resolutions forming Community Facilities District 2025‑1 with a landowner ballot that returned 111 votes in favor of Propositions A, B and C; the board authorized a bond issuance not to exceed $20 million and introduced an ordinance to levy special taxes within the new CFD.
The Beaumont Unified School District board approved formation of Community Facilities District (CFD) 2025‑1 and related bond actions at its July 22 meeting after a staff presentation and a public hearing that drew no speakers.
Financial advisor Jason Chung and bond counsel Reed Glire described the project area (near Oak Valley Parkway and Mickelson Park, in the Summerwind Trails attendance boundary), the developer (Meritage Homes) and the finance structure. The project was updated since earlier discussion: staff said the proposed development is expected to grow from about…
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