DEPOSIT REQUIREMENTS
Total Deposit of $70,000 required at time application is submitted. $65,000 will be eligible for reimbursement at time bond proceeds are available. $5,000 is non-refundable.
An additional $70,000 will be req
uired for each zone or improvement area.
SPECIAL FUNDING DISTRICT
APPLICATION FORM
Proposed Special District: CFD for Facilities
Proposed Name of Project:
SPICER CONSULTING GROUP USE ONLY
Date Received: Amount:
Proposed Special District Number:
1. IDENTIFICATION OF SUBJECT PROPERTY
Description of Property (include N, S, E &/or W, borders, acreage & tract number) A. APN(s) and/or Master Parcel Number
Attach Backup (if needed)
Include all Assessor Parcel Numbers to be included in the Special District in their entirety (XXX‐XXX‐XXX‐X)
B. Tract/Tentative Tract Map Number
Enclose copy of map
C. Recorded Lot Line Adjustments
Enclose copy of document(s)
D. Mapping Status □ Approved □ Tentative
E. Environmental Permits Required □ Yes □ No
F. Status of Permits □ Application in Process
G. Conditions of Approval Required □ Yes □ No
By Whom
H. Status of Conditions □ In Process □ Completed
Estrella (TR 36803)
Approximately 30.00 gross acres located in the City of Menifee, north of Corson Avenue, east of Evans Road, and south of Holland Road.
358-790-001 to 035
358-800-001 to 050
36803
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City of Menifee
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Special District Application
2. PROPERTY OWNER INFORMATION (Attach Grant Deed)
3. CONSULTANT/APPLICANT INFORMATION
4. ENGINEERING INFORMATION
5. PROJECT LAND USE (Per Improvement Area or Zone, When Applicable) A. Number of Taxable Units
B. Proposed Product Mix See below
C. Base Sale Price Information See below
D. Number of Taxable Acres
Attach Backup
E. Number of Exempt Acres
Attach Backup
F. Desired Tax Rate Burden %
G. Anticipated Absorption per month
A. Landowner Name(s)
Attach Backup (if needed)
B. Contact Name
C. Title
D. Mailing Information
E. Phone
F. Fax
G. E -Mail
A. Company Name
B. Contact Name
C. Title
D. Mailing Information
E. Phone
F. Fax
G. E -Mail
A. Company Name
B. Contact Name
C. Title
D. Mailing Information
E. Phone
F. Fax
G. E -Mail
(951) 741-7635
[email protected]
(949) 542-7072
(949) 542-7076
[email protected]
6879 Airport Dr., Riverside CA, 92504
(951) 688-0241
(951) 688-0599
[email protected]
80 18.20
N/A (recorded map)
1.85 6 per month
Lennar Homes of California, LLC
Bryce Flemming
Project Manager
Zimmerman Group
John Zimmerman
Principal
4140 Temescal Canyon Rd, Suite 410, Corona CA 92883
Adkan Engineers
Richard Reaves
Registered Civil Engineer
28202 Cabot Rd, Suite 620, Laguna Niguel, CA 92677
Special District Application
6. COMPOSITION OF DEVELOPABLE ACREAGE
Attach Additional Backup (if needed)
Residential
Commercial-Retail
Business Park
School Site
PROPOSED RESIDENTIAL PRODUCT MIX
Plan Number
Apartment, Attached, or Detached
Number of Units
Average Lot Size
Prices
Square Footage of Living Area
Occupancies (See Table Below)
Quarter & Year Plan 1 Plan 2 Plan 3 Plan 4
7. FINANCING STRUCTURES OFFERED TO HOMEBUYERS
□ FHA □ VA □ VARIABLE
□ OTHER
8. FINANCING MECHANICS
Acreage Commence Occupancy
(Quarter & Year)
1 2 3 4
sq. ft.
A. Preparation of Boundary Map
Attach if possible
B. Preparation of RMA
Attach if possible
C. Proposed JCFAs
Agency Name
Funding Purpose (i.e. fees, facilities)
Name
Contact Name
Mailing Address
Phone
Fax
Email
18.20 Q2 2025
NA
NA
NA
NA
NA
NA
See Exhibit A
See Exhibit A
See Exhibit A
See Exhibit A
See Exhibit A
See Exhibit A
See Exhibit A
See Exhibit A
See Exhibit A
See Exhibit A
See Exhibit A
See Exhibit A
TBD
TBD
TBD
TBD
TBD
TBD
Zimmerman Group / Spicer Consulting Group
Zimmerman Group / Spicer Consulting Group
Yes
EMWD
Sewer/Water Fees & Facilities
Thomas Hays
Assistant Chief Financial Officer
PO Box 8300 Perris, CA 92572-8300
(951) 928-3777
[email protected]
See Exhibit A
See Exhibit A
See Exhibit A
See Exhibit A
9,913
Special District Application
Agency Name
Funding Purpose (i.e. fees, facilities)
Name
Contact Name
Mailing Address
Phone
Fax
Email
D. Additional Land Secured Financings Proposed
Agency Name & Backup
E. Overlapping Land Secured Financings List all existing special taxes, assessments, & liens as well as agency name(s)* F. Improvement Area(s)/Zone(s) ☐ Yes ☐ No
G. Basis for Either
H. Initial Levy Fiscal Year
I. Final Levy Fiscal Year (Anticipated)
J. Proposed Capitalized Interest Months
K. Proposed Facilities Costs Breakout Between Improvement Area(s)/Zone(s) & Type of Facility/Agency L. Summary of Proposed Methodology Proposed Land Use Categories & Method of Apportionment Questions? Contact our Special Tax Consultant, Spicer Consulting Group at 866-504-2067. Thank you. * Attach backup as needed
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2025-2026
To Be Determined
6 See Exhibit A
See Exhibit A
See Exhibit B
EXHIBIT A
Lennar Homes - Menifee 80 (TR No. 36803)
Proposed City of Menifee CFD No. 2025-1 (Quartz Trail)
Effective Tax Rate Analysis and Bond Sizing
October 7, 2024
Assumptions Estimated Sources & Uses of Funds Allocation of Improvement Fund Est. Tax Rate 1.85% Sources 5,650,000$ Description Per Unit Total Average Int. Rate 5.00% City DIF Fees * 15,861$ 1,268,900$ Admin. Expense 30,000$ Uses City Improvements 16,121 1,289,664 Cost of Issuance 250,000$ Reserve Fund 488,959$ EMWD Fee 18,261 1,460,880 Cap. Int.(Months) 6 Cap. Interest 137,375 EMWD Improvements 5,156 412,441 Und. Discount 2.00% Und Discount 113,000 MUSD School Fees (TBD) - - Special Tax Rev. 345,563$ Issuance Costs 225,000 Contingency - - City Fee Premium 253,780 Total CFD Funding 55,399$ 4,431,885$ Improvement Fund 4,431,885
Total Uses 5,650,000$
Land Use Information & Total Property Tax Rates Special Tax Revenues Ad Other City Proposed Annual Annual
Square Footage Base Valorem Fixed Serv. CFD City of Menifee Total Tax Total Tax Special Special Tax Product Plan Home SF (a) Category Pricing (a) Taxes(b) Chrgs(c) 2017-1 (d) CFD Tax (e) Per Unit Rate % Tax Unit Mix Collections TBD 1 2,767 ≤ 2,800 700,990$ 8,035$ 368$ 605$ 3,961$ 12,968$ 1.85% 3,961$ 20 79,211$ TBD 2 3,010 3,001 - 3,200 709,990 8,138 368 605 4,024 13,135 1.85% 4,024 20 80,478 TBD 3 3,423 3,401 - 3,600 749,000 8,585 368 605 4,298 13,857 1.85% 4,298 20 85,969 TBD 4 4,134 ≥ 4,001 848,000 9,720 368 605 4,995 15,688 1.85% 4,995 20 99,905 CFD Total / Avg 3,334 751,995$ 8,619$ 368$ 605$ 4,320$ 13,912$ 1.85% 4,320$ 80 345,563$ Footnotes:
(a) Product and pricing provided by Lennar Homes.
(b) Ad Valorem taxes total 1.14618% of the assessed value for FY 24-25 (Includes $0 Homeowner Exemption). (c) Estimated other fixed charges and assessments for FY 2024-25: Amount Flood Control…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..4.00$ Perris Union HS CFD No. 92-1…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..336.26 MWD Standby East…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..6.94 EMWD Standby-Combined Charge…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..21.00 Total Fixed Charges 368.20$
(d) Represents the estimated Special Tax for City of Menifee CFD No. 2017-1 (Tax Zone 13) for the 2024-25 tax year, which shall increase by the greater of the Index or 2% annually. (e) Represents the proposed City of Menifee CFD Special Tax for FY 2024-25 tax year, escalating 2% annually. * See fee premium shown under the Sources and Uses of Funds section.
DRAFT
EXHIBIT B
Lennar Homes - Menifee 80 (TR No. 36803)
Proposed City of Menifee CFD No. 2025-1 (Quartz Trail)
Preliminary List of CFD Eligible Facilities
October 7, 2024
Total Units 80
Estimated Project Square Footage 3,334
Per Unit Total
City of Menifee Fees (a)
Law Enforcement 1,012$ 80,960$
Fire Facilities 708 56,640
Transportation 7,764 621,120
General Government 1,287 102,960
Animal Shelter (Not CFD Eligible) - - Parks & Rec 1,885 150,800
Quimby Fees (b) 2,921 233,700
Storm Drain A_B Watershed 284 22,720
Subtotal City DIF fees 15,861$ 1,268,900$
City Fee Premium (20%) 3,172 253,780
Total City Fees 19,034$ 1,522,680$
City of Menifee Improvements (d)
Street Improvements (Holland, Evans, Corson) 10,242 819,354 City Landscape / DG Trails Improvements 3,125 250,000 Total City Improvements 13,367$ 1,069,354$
Total City of Menifee Facilities 32,400$ 2,592,034$ EMWD Fees (c)
Water Financial Participation Charge 7,416$ 593,280$ Sewer Financial Participation Charge 3,476 278,080 Sewer Treatment Plant Capacity Charge 6,589 527,120 Meter Fee 377 30,160
Water Development Fee 403 32,240
Total EMWD Fees 18,261$ 1,460,880$
EMWD Improvements (d)
EMWD Off-Site Water Improvements 5,599$ 447,929$ EMWD Off-Site Sewer Improvements 4,371 349,704 EMWD Off-Site Recycled Water Improvements 8,258 660,649 Total EMWD Improvements 18,229$ 1,458,282$
Total EMWD Facilities 36,490$ 2,919,162$
Total CFD Eligible Facilities 68,890$ 5,511,196$ Footnotes
(a) Represents the City of Menifee DIF fees effective July 1, 2024. (c) Represents the EMWD Fees effective January 1, 2024. (b) Quimby Fee amount provided by Desiree McGriff 4/1/24. (d) EMWD and City improvement completed prior to CFD formation and expected to be acquired after CFD formation and not subject to public works requirements.
DRAFT
Exhibit C
Lennar Homes - Menifee 80 (TR No. 36803)
Proposed City of Menifee CFD No. 2025-1 (Quartz Trail)
Undeveloped Tax Rates and Taxable Acreage
October 7, 2024
CFD Total
Estimated Taxable Acreage (See Ex. D) 18.21
Contengency Percentage 5%
Contengency Acreage 0.91
Adjusted Taxable Acreage 17.30
Projected Special Tax Revenues 345,563.15$
Undeveloped Property Special Tax Per Acre 19,979.00$
Number of Lots 80
Total Estimated Backup Tax 363,742$
Estimated Average Backup Tax Per Lot 4,546.77$
Exhibit D
Lennar Homes - Menifee 80 (TR No. 36803)
Proposed City of Menifee CFD No. 2025-1 (Quartz Trail)
Net Taxabel Acreage
October 7, 2024
Lot Sq. Ft. Lot Sq. Ft. Lot Sq. Ft.
1 9,529 31 9,206 61 8,400 2 13,209 32 13,154 62 8,400 3 12,066 33 8,944 63 8,400 4 13,301 34 8,162 64 10,137 5 13,420 35 8,170 65 9,500 6 7,945 36 8,178 66 8,160 7 8,160 37 8,171 67 8,160 8 9,000 38 8,171 68 9,001 9 8,160 39 8,773 69 8,374 10 8,160 40 8,618 70 13,187 11 8,160 41 8,149 71 10,982 12 8,160 42 8,149 72 8,190 13 11,367 43 8,142 73 8,365 14 11,440 44 8,150 74 9,017 15 11,440 45 8,170 75 9,447 16 11,440 46 10,357 76 9,485 17 11,440 47 10,273 77 9,111 18 11,440 48 9,762 78 8,646 19 11,406 49 12,470 79 8,671 20 11,483 50 12,861 80 8,297 21 12,790 51 8,550
22 17,949 52 9,037
23 11,160 53 8,160
24 10,389 54 8,160
25 8,083 55 8,160
26 8,278 56 8,160
27 8,274 57 8,160
28 12,528 58 9,214
29 15,653 59 10,984
30 22,287 60 8,400
Total SF 793,062
Total Acreage 18.21
Total Lots 80
Footnotes:
(a) Lot acreages based on recorded final tract map.
Tract 36803