CFD 2023‐1 (Rockport Ranch)
Proforma Summary Sheet
Applicant: Lennar Homes
Assumptions
Description Amount
Average Coupon 5.50%
Priority Administration $30,000
Cost of Issuance $250,000
Capitalized Interest Period 3‐months
Special Tax Escalation 2%
Bond Term 30 Years
Underwriter Discount 2.00%
Total Special Tax Revenues $582,784
Estimated Sources and Uses
Sources
Par Bond Amount $9,100,000
Uses
Reserve Fund $846,140
Capitalized Interest $0
Underwriter Discount $182,000
Cost of Issuance $250,000
Improvement Fund $7,821,860
Allocation of Improvement Fund
Description Originally Proposed 2024 Bonds
City Facilities $2,935,000 $0
City Fees $8,155,934 $4,840,078
City Premium $849,852 $849,852
EMWD Fees $5,585,835 $2,131,930
MUSD Fees $2,708,812 $0
Unfunded $5,561,380 $12,413,572
Total $20,235,433 $20,235,433
Other Items
Acreage Gross: 78.91; Net: 39.77
Development Description Detached Single Family Residential Number of Units (50 min) 181 Developed Units; 305 Total Units Estimated Home Size Range 1,860 SF to 4,136 SF
Average Home Size 2,481 SF
Average Estimated Home Price $631,632
Total Effective Tax Rate (2% Max) 1.82%
CFD Tax Rate Range $2,646 to $4,862
Escalation (2.00% Max) Yes, 2.00%
Maintenance CFD Proposed, CFD 2017‐1 Tax Zone 18
Maintenance CFD Rate $556/Unit