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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 366 homes to roughly 429 single‑family residences with square footage ranging from about 1,600 to 3,150 square feet. Staff estimated the annual special tax would range roughly from $1,800 to $2,600 depending on home size.
The board opened and closed the public hearing the same evening. After the hearing, the board adopted Resolution 2025‑26‑01 establishing CFD 2025‑1, and Resolution 2025‑26‑02 determining the necessity to incur bonded indebtedness not to exceed $20 million; motions were moved, seconded and carried. The clerk reported that the single landowner ballot represented 111 votes and the landowner voted "Yes" on Propositions A, B and C — the clerk certified the unanimous landowner result.
Board members then adopted Resolution 2025‑26‑03 certifying the election results (the board corrected the clerk name in Attachment B before the vote) and waived further reading to introduce Ordinance 2025‑26‑06 (first reading) authorizing the levy of a special tax within the CFD. Each motion was approved by the board.
Board members described the CFD as a mechanism to capture a portion of developer‑paid special taxes to support district facilities and related services, and noted the district will participate with the Cherry Valley Water District in the CFD so both agencies can access the revenue stream. Staff emphasized that the CFD formation still requires follow‑up administrative steps and compliance with legal notices and ballot procedures before bonds are issued.
The board took no action this evening to issue bonds; the resolutions authorize formation and a landowner election and set a bonding cap ("not to exceed $20 million") that staff said would be used only as necessary to fund the project and related facilities.
