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Board approves resolution cutting CFD2 tax levy about 90% and affirms CFD1 rate
Summary
Travis Unified adopted Resolution 2025-26-12 approving special-tax levies for two community facilities districts; staff said CFD2 levy will drop by roughly 90% this year and is anticipated to be eliminated next fiscal year, while CFD1’s rate remains unchanged.
The Travis Unified School District governing board on April 14 adopted Resolution 2025-26-12 that affirms this year’s special-tax assessments for two community facilities districts and reduces the CFD2 levy by roughly 90%.
The action followed a presentation by district finance staff and Lori Reeri of Government Financial Services (GFS), who outlined long-running debt-reduction work. Reeri said prepayments and retirements of prior debt produced taxpayer savings and that CFD2’s levy can be cut from about 68 cents per square foot to roughly 6.8 cents per square foot for the coming year.
Board members were told CFD2 is expected to be eliminated in fiscal year 2027–28 and CFD1 in fiscal year 2028–29, assuming continued debt retirement and favorable balances. District staff said the CFD1 rate (30 cents per square foot) is set by formation documents and must be affirmed annually; no immediate reduction for CFD1 was recommended.
The resolution was presented as part of the district’s broader debt-management work; staff said prepaying obligations avoided future interest costs and produced nearly $4 million in savings related to earlier COPs and lease-purchase obligations. One board member asked how long remaining homeowners would continue to pay; staff said the reduced CFD2 levy will apply for one more year (through June 2027), and payments will cease thereafter for CFD2.
The board moved, seconded and approved the resolution by voice vote.
What happens next: staff said they will continue monitoring account balances and interest earnings to determine if CFD1 reductions are possible in future years. The action preserves the district’s plan to wind down the special-tax districts as the related debt is retired.
