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Board approves resolutions to form CFD and pursue bonds for future Mountain House school
Summary
The board approved resolutions to establish Community Facilities District (CFD) 2024-1 and to express intent to incur bonded indebtedness to finance a future school in northern Mountain House; staff estimated the build at about $60 million and said timing depends on state bond sales.
The Lammersville Joint Unified School District board voted to approve resolution 24-25-10 to establish Community Facilities District (CFD) number 2024-1 and resolution 24-25-11 expressing intent to incur bonded indebtedness to finance a future school for the neighborhoods north of Byron Highway. Superintendent Dr. Nicholas and staff explained that Mello-Roos and state construction bonds are the expected funding mechanisms and that enactment of the CFD is a necessary step to pool local developer funds when home sales begin.
Asked about cost and timing, staff said the next school could cost approximately $60,000,000 and that issuance timing depends on when the state sells construction bonds. "In order for us to do development, we have to form a CFD," Dr. Nicholas said, adding that the process will be complex because the project is not currently on the state funding list. The motion to approve both resolutions passed unanimously on a roll-call vote.
