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Beaumont Unified board authorizes CFD 2025-1 process to fund proposed school site
Summary
The Beaumont Unified School District board adopted a resolution of intention to form Community Facilities District 2025-1, authorizing a special tax for a planned development and scheduling a public hearing for July 22. The board also approved a follow-up resolution to permit bonded indebtedness when needed.
The Beaumont Unified School District board on Tuesday adopted Resolution 2024-25-35 declaring its intention to form Community Facilities District 2025-1 and to authorize a special tax on a planned residential development to support a future school site.
Adam Bowers, the district's financial advisor, told trustees the CFD would include fees for more than one agency, which can increase the investor-required revenue cushion and improve bond-marketability. The developer team has increased the proposed single-family detached units to about 429 from a previous 366, and special-tax ranges will vary with home square footage, Bowers said. He identified Maritage Homes as a participating builder and said the revenue would be dedicated to site acquisition and early school development costs. Board members asked whether the proceeds would cover land purchase; Bowers said the proposed levy would be intended to cover site acquisition costs, estimating roughly "6 point some million" dollars would be dedicated to the district’s share of site purchase.
Trustee Jeff Brown moved to adopt the resolution; Trustee Lance seconded. The board set a public hearing for July 22 and a second reading of related ordinances for Aug. 12, actions Bowers described as the next steps if the board proceeds. The board then adopted Resolution 2024-25-36, a companion action declaring the district's intent to incur bonded indebtedness within CFD 2025-1 when financing is later requested.
Both resolutions passed on voice votes reported as carrying without opposition. District staff said any bond sale and final tax rates would be presented to the board at a later date once development timing is clear.
The district's financial advisor noted that including multiple public agencies in a single CFD can slightly increase the available debt-service cushion required by investors, which can alter the special-tax calculations for each agency. The board did not set bond terms or tax rates at the meeting; those details will appear in staff reports and at the July public hearing.
The board's action starts the formal CFD formation process; staff will publish the legal notices and prepare materials for the July 22 public hearing.
