Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Cfds topic
No spam. Unsubscribe anytime.
Board approves annexation into CFD 2019-1 to support Mountain House school funding
Summary
Trustees unanimously approved Resolution 24-25-03 to annex property into Community Facilities District 2019-1 (Mountain House School Facilities), with staff noting an agreement with builder Pulte that will serve as a model for future developer negotiations.
The governing board voted to approve Resolution 24-25-03, determining that property is annexed to Lammersville Joint Unified School District Community Facilities District (CFD) 2019-1, Mountain House School Facilities, and to approve associated deposit and reimbursement agreements.
Staff described this as a necessary, though technical, step to allow bond and tax proceeds generated from home purchases to become available for district construction. The presenter said a recent agreement with builder Pulte provides a model for future builder agreements in the undeveloped portions of College Park and could help the district recoup funds it fronted for projects.
Trustees moved, seconded, and approved the annexation resolution by roll call, 5-0. Staff said further detailed reports on that negotiation and its application to district growth projects will come to the board in future meetings.
