CITY OF MENIFEE DRAFT v1
Community Facilities District No. 2025‐2
(Quartz Trail)
Tract Nos. 36803
Calculation of Bond Sizing and Total Tax Rates
I. Home Prices and Combined Tax Rates:
Plan 12345678 CFD TOTAL
Range of Home Sizes in Square Feet per RMA Under 2,800 to 3,001 to 3,201 to 3,401 to 3,601 to 3,801 to Over 2,800 3,000 3,200 3,400 3,600 3,800 4,000 4,000
Estimated Home Size 2,767 2,889 3,010 3,217 3,423 3,660 3,897 4,134 3,334 Estimated Home Price $700,990 $590,000 $709,990 $610,000 $749,000 $782,000 $815,000 $848,000 $751,995 $7,009.90 $5,900.00 $7,099.90 $6,100.00 $7,490.00 $7,820.00 $8,150.00 $8,480.00 $7,519.95 $49.07 $41.30 $49.70 $42.70 $52.43 $54.74 $57.05 $59.36 $52.64 $480.18 $404.15 $486.34 $417.85 $513.07 $535.67 $558.28 $580.88 $515.12 $18.79 $15.81 $19.03 $16.35 $20.07 $20.96 $21.84 $22.73 $20.15 $356.10 $299.72 $360.67 $309.88 $380.49 $397.26 $414.02 $430.78 $382.01 $60.29 $50.74 $61.06 $52.46 $64.41 $67.25 $70.09 $72.93 $64.67 $60.29 $50.74 $61.06 $52.46 $64.41 $67.25 $70.09 $72.93 $64.67 $8,034.61 $6,762.46 $8,137.76 $6,991.70 $8,584.89 $8,963.13 $9,341.37 $9,719.61 $8,619.22 $336.26 $336.26 $336.26 $336.26 $336.26 $336.26 $336.26 $336.26 $336.26 $4.00 $4.00 $4.00 $4.00 $4.00 $4.00 $4.00 $4.00 $4.00
$21.00 $21.00 $21.00 $21.00 $21.00 $21.00 $21.00 $21.00 $21.00 $6.94 $6.94 $6.94 $6.94 $6.94 $6.94 $6.94 $6.94 $6.94
$606.00 $606.00 $606.00 $606.00 $606.00 $606.00 $606.00 $606.00 $606.00 $3,959.51 $3,178.34 $4,022.85 $3,319.10 $4,297.41 $4,529.67 $4,761.93 $4,994.19 $4,318.49 $4,597.45 $3,816.28 $4,660.79 $3,957.04 $4,935.35 $5,167.61 $5,399.87 $5,632.13 $4,956.43 $12,632.06 $10,578.74 $12,798.56 $10,948.74 $13,520.24 $14,130.74 $14,741.24 $15,351.74 $13,575.65
1.80% 1.79% 1.80% 1.79% 1.81% 1.81% 1.81% 1.81% 1.81%
Ad‐Valorem Tax Rate (1.00%)
Metro Water East (0.00700%)
Perris Union HS (0.06850%)
Mt. San Jacinto College (0.00268%)
Menifee Union School (0.05080%)
EMWD IMP U‐35 (0.00860%)
EMWD IMP U‐36 (0.00860%)
Subtotal GO Bond Debt
Perris Union HS CFD 92‐1
Flood Control Stormwater
EMWD Standby
MWD Standby charge
CFD No. 2017‐1 Zone 13 ‐ Maint Svcs*
Proposed CFD No. 2025‐2 ‐ Fac Special Tax**
Subtotal Special Assessments and Taxes
Total Annual Property Taxes
Annual Prop. Tax Rates as % of Home Price
Unit Mix 20 ‐ 20 ‐ 20 ‐ ‐ 20 80
(1)Total CFD ‐ Annual Tax Collections $79,190 $0 $80,457 $0 $85,948 $0 $0 $99,884 $345,479 (2)Administration $30,000
Total Annual Special Taxes for Bonding
((1)Special Taxes ‐ (2)Admin. / 110% Cov) $65,740 $0 $66,791 $0 $71,350 $0 $0 $82,919 $286,799 II. Total Estimated Home Square Footage: 55,340 ‐ 60,200 ‐ 68,460 ‐ ‐ 82,680 266,680 * Escalates at greater of 2% or CPI
** Includes a 2% annual escalator for debt service
III. CFD Bond Sizing & Construction Proceeds:
2025 Bond Amount (5.00% Interest, 30 Year Term, 29 Year Amortization) $5,630,000 Underwriter Discount (2.00%) $112,600
Reserve Fund (Maximum Annual Debt Service) $487,425
Capitalized Interest (0 mos.) $0
Incidental Costs (Estimate) $250,000
Total Discount, Reserve Fund, Capitalized Interest and Incidental Costs $850,025 Net Bond Proceeds $4,779,975
CITY OF MENIFEE DRAFT v1
Community Facilities District No. 2025‐2
(Quartz Trail)
Tract Nos. 36803
Summary of Acreage, Undeveloped Property
And Backup Special Tax Rates
Tract Nos. 36803
80 Lots
(Quartz Trail)
I. Calculation of Net Taxable Acres:
Gross Acreage 25.89
Less: Exempt Acres 7.70
Net Taxable Acres 18.19
II. Calculation of Undeveloped Property Tax Rate:
Total Developed Property Revenues $345,479
Net Taxable Acres 18.19
Less: Contingency Factor (10%) 1.82
Net Taxable Acres (Adjusted) 16.37
Undeveloped Property Tax Rate per Acre $21,103
Total Exempt Acreage 9.52
III. Calculation of Backup Special Tax Rate:
A. Backup Special Tax Rate per Unit
Total Taxable Acres 18.19
Undeveloped Property Tax Rate per Acre $21,103
Total Units 80
Backup Special Tax per Unit $4,798
B. Backup Special Tax Rate per Lot Square Foot
Total Developed Property Revenues $345,479
Total Net Acres (Square Feet) 713,121
Backup Special Tax Rate per Lot Square Foot $0.4845
CITY OF MENIFEE DRAFT v1
Community Facilities District No. 2025‐2
(Quartz Trail)
Tract Nos. 36803
Calculation of Bond Sizing and Total Tax Rates
Debt Service No. of Total Annual
Tax Rate Units Collectable Tax Max Tax Rates
Less than 2,800 $3,960 20 $79,190 $95,966
2,800 to 3,000 $3,178 0 $0 $0
3,001 to 3,200 $4,023 20 $80,457 $95,966
3,201 to 3,400 $3,319 0 $0 $0
3,401 to 3,600 $4,297 20 $85,948 $95,966
3,601 to 3,800 $4,530 0 $0 $0
3,801 to 4,000 $4,762 0 $0 $0
Greater than 4,000 $4,994 20 $99,884 $99,884
Non‐residential Property $21,103
Backup Tax Rate per Unit $4,798
Backup Tax Rate per S.F. $0.4845
80 $345,479 $387,782
Tax Rate for Bonding $325,256
Sizing at Max tax rate $7,700,000
Future Facilities (rounded up) $7,000,000
Range of Home Sizes
CITY OF MENIFEE DRAFT v1
Community Facilities District No. 2025‐2
(Quartz Trail)
Tract Nos. 36803
Use of Bond Proceeds
CFD 2025‐2 Tract Nos. 36803
80 Lots
FUNDING REQUIREMENTS Per Lot (Quartz Trail)
City Fees
Law Enforcement $1,012 $80,960
Fire Facilities $708 $56,640
Circulation $7,764 $621,120
General Govt $1,287 $102,960
Parks and Recreation $1,885 $150,800
Quimby $2,921 $233,700
Storm Drain A‐B Watershed $284 $22,720
Subtotal City Fees $15,861 $1,268,900
City Premium (20%) $3,172 $253,780
Total City Fees $19,033 $1,522,680
City Facilities
Landscape and Trail Improvements $3,125 $250,000
Street Improvements $10,242 $819,354
Total City Facilities $13,367 $1,069,354
Total City Facilities and Fees $32,400 $2,592,034
EMWD Fees
Sewer Financial Participation Charge $3,476 $278,080
Sewer Treatment Plant Capacity Charge $6,589 $527,120
Water Financial Participation Charge $7,416 $593,280
Water Supply Development Fee $403 $32,240
1" Meter Drop‐In Fee $377 $30,160
Total EMWD Fees $18,261 $1,460,880
EMWD Facilities
Water Improvements $5,599 $447,929
Sewer Improvements $4,371 $349,704
Recycled Water Improvements $8,258 $660,649
Total EMWD Facilities $18,229 $1,458,282
Total EMWD Facilities and Fees $36,490 $2,919,162
Total Cost $68,890 $5,511,196
Potential Project Funds Available $4,779,975
ALLOCATION OF PROCEEDS % Per Lot Total
City Facilities 22% $13,367 $1,069,354
City Fees 27% $9,852 $1,268,900
City Premium 5% $3,172 $253,780
Other Agency 46% $27,349 $2,187,941
Total Funded by Bond Proceeds 100% $53,740 $4,779,975
UNFUNDED REQUIREMENTS
Net Bond Proceeds Deficit $0
Unfunded Requirement $731,221
Total Fees to be Funded by Developer $731,221
CITY OF MENIFEE DRAFT v1
Community Facilities District No. 2025‐2
(Quartz Trail)
Tract Nos. 36803
Revenue Coverage ‐ Assigned Tax Rate
Year
Period
Ending
Gross
Revenues
Priority
Admin Principal Coupon Interest
Net Debt
Service
Debt
Service
Coverage
1 9/1/2026 $345,479 $30,000 $5,000 5.00% $281,500 $286,500 110.11% 2 9/1/2027 $352,389 $30,600 $10,000 5.00% $281,250 $291,250 110.49% 3 9/1/2028 $359,437 $31,212 $15,000 5.00% $280,750 $295,750 110.98% 4 9/1/2029 $366,625 $31,836 $20,000 5.00% $280,000 $300,000 111.60% 5 9/1/2030 $373,958 $32,473 $30,000 5.00% $279,000 $309,000 110.51% 6 9/1/2031 $381,437 $33,122 $35,000 5.00% $277,500 $312,500 111.46% 7 9/1/2032 $389,066 $33,785 $45,000 5.00% $275,750 $320,750 110.77% 8 9/1/2033 $396,847 $34,461 $55,000 5.00% $273,500 $328,500 110.32% 9 9/1/2034 $404,784 $35,150 $65,000 5.00% $270,750 $335,750 110.09% 10 9/1/2035 $412,880 $35,853 $75,000 5.00% $267,500 $342,500 110.08% 11 9/1/2036 $421,137 $36,570 $85,000 5.00% $263,750 $348,750 110.27% 12 9/1/2037 $429,560 $37,301 $95,000 5.00% $259,500 $354,500 110.65% 13 9/1/2038 $438,151 $38,047 $105,000 5.00% $254,750 $359,750 111.22% 14 9/1/2039 $446,914 $38,808 $120,000 5.00% $249,500 $369,500 110.45% 15 9/1/2040 $455,853 $39,584 $130,000 5.00% $243,500 $373,500 111.45% 16 9/1/2041 $464,970 $40,376 $145,000 5.00% $237,000 $382,000 111.15% 17 9/1/2042 $474,269 $41,184 $160,000 5.00% $229,750 $389,750 111.12% 18 9/1/2043 $483,754 $42,007 $175,000 5.00% $221,750 $396,750 111.34% 19 9/1/2044 $493,430 $42,847 $195,000 5.00% $213,000 $408,000 110.44% 20 9/1/2045 $503,298 $43,704 $210,000 5.00% $203,250 $413,250 111.21% 21 9/1/2046 $513,364 $44,578 $230,000 5.00% $192,750 $422,750 110.89% 22 9/1/2047 $523,631 $45,470 $250,000 5.00% $181,250 $431,250 110.88% 23 9/1/2048 $534,104 $46,379 $270,000 5.00% $168,750 $438,750 111.16% 24 9/1/2049 $544,786 $47,307 $295,000 5.00% $155,250 $450,250 110.49% 25 9/1/2050 $555,682 $48,253 $320,000 5.00% $140,500 $460,500 110.19% 26 9/1/2051 $566,795 $49,218 $340,000 5.00% $124,500 $464,500 111.43% 27 9/1/2052 $578,131 $50,203 $370,000 5.00% $107,500 $477,500 110.56% 28 9/1/2053 $589,694 $51,207 $400,000 5.00% $89,000 $489,000 110.12% 29 9/1/2054 $601,488 $52,231 $430,000 5.00% $69,000 $499,000 110.07% 30 9/1/2055 $613,518 $53,275 $460,000 5.00% $47,500 $507,500 110.39% 31 9/1/2056 $625,788 $54,341 $490,000 5.00% $24,500 $514,500 111.07% Total $14,641,219 $1,271,383 $5,630,000 $6,443,750 $12,073,750 110.73% CITY OF MENIFEE DRAFT v1
Community Facilities District No. 2025‐2
(Quartz Trail)
Tract Nos. 36803
Lot Summary
Lot SF Acreage Lot SF Acreage
1 9,583 0.22 41 8,276 0.19
2 13,068 0.30 42 8,276 0.19
3 12,197 0.28 43 8,276 0.19
4 13,504 0.31 44 8,276 0.19
5 13,504 0.31 45 8,276 0.19
6 7,841 0.18 46 10,454 0.24
7 8,276 0.19 47 10,454 0.24
8 9,148 0.21 48 10,019 0.23
9 8,276 0.19 49 12,632 0.29
10 8,276 0.19 50 13,068 0.30
11 8,276 0.19 51 8,712 0.20
12 8,276 0.19 52 7,405 0.17
13 11,326 0.26 53 8,276 0.19
14 11,326 0.26 54 8,276 0.19
15 11,326 0.26 55 8,276 0.19
16 11,326 0.26 56 8,276 0.19
17 11,326 0.26 57 8,276 0.19
18 11,326 0.26 58 9,148 0.21
19 11,326 0.26 59 10,890 0.25
20 11,326 0.26 60 8,276 0.19
21 13,068 0.30 61 8,276 0.19
22 17,860 0.41 62 8,276 0.19
23 11,326 0.26 63 8,276 0.19
24 10,454 0.24 64 10,019 0.23
25 8,276 0.19 65 9,583 0.22
26 8,276 0.19 66 8,276 0.19
27 8,276 0.19 67 8,276 0.19
28 12,632 0.29 68 9,148 0.21
29 15,682 0.36 69 8,276 0.19
30 22,216 0.51 70 13,068 0.30
31 9,148 0.21 71 10,890 0.25
32 13,068 0.30 72 7,405 0.17
33 8,712 0.20 73 7,841 0.18
34 8,276 0.19 74 8,712 0.20
35 8,276 0.19 75 9,148 0.21
36 8,276 0.19 76 9,583 0.22
37 8,276 0.19 77 9,148 0.21
38 8,276 0.19 78 8,712 0.20
39 8,712 0.20 79 8,712 0.20
40 8,712 0.20 80 8,276 0.19
Totals 428,630 9.84 363,726 8.35 ‐ ‐ ‐ ‐ ‐ ‐ Grand Total 792,356 18.19
CITY OF MENIFEE DRAFT v2
CFD No. 2017-1 (Maintenance Services)
Applicant Development Name Tract No. Res/Comm Date
Foremost Pacific Group Estrella 36803 Residential 7/1/2022 Units Net Acres Gross Acres Net Acres Units Annex No. 80 18.07
Prepared by - John Zimmerman 29.29 18.07 80 13 Description Measure Tax A Total Tax B Total Per Unit Grand Total Street Frontage SF 27,730 $7,644.73 - $0.00 $7,644.73 Trees Qty 75 $2,153.79 - $0.00 $2,153.79 Subtotal $122.48 $9,798.52 $0.00 $0.00 $122.48 $9,798.52 LED Qty 15 $2,768.49 - $0.00 $2,768.49
Other Qty
- $0.00 - $0.00 $0.00
Subtotal $34.61 $2,768.49 $0.00 $0.00 $34.61 $2,768.49
Street Sweeping LF 3,384 $1,166.15 $0.00 $1,166.15 Sidewalks - (20 year replacement) SF 25,305 $1,453.37 - $0.00 $1,453.37 Pavement Management SF 114,406 $5,519.49 - $0.00 $5,519.49 Subtotal $101.74 $8,139.01 $0.00 $0.00 $101.74 $8,139.01 Detention/Debris Basin SF - $0.00 30,188 $8,322.37 $8,322.37 Storm Drains Pipe LF 2,161 $352.49 219 $35.72 $388.21 Curb Inlet Catch Basin EA 1 $280.00 5 $1,400.00 $1,680.00 WQ Outlet Structure EA - $0.00 4 $1,837.90 $1,837.90 Other Qty - $0.00 - $0.00 $0.00
Subtotal $7.91 $632.49 $144.95 $11,595.98 $152.86 $12,228.47 Neighborhood (5 ac. Per 1,000) 3.164 pph Acre 1.27 $17,445.32 - $0.00 $17,445.32 Subtotal $218.07 $17,445.32 $0.00 $0.00 $218.07 $17,445.32 DG SF 8,878 $509.90 - $0.00 $509.90 Fencing LF 1,480 $1,154.14 - $0.00 $1,154.14 Other LF - $0.00 - $0.00 $0.00
Subtotal $20.80 $1,664.04 $0.00 $0.00 $20.80 $1,664.04
Graffiti
Abatement Unit 80 $262.82 - $0.00 $262.82 Subtotal $3.29 $262.82 $0.00 $0.00 $3.29 $262.82
Total Direct Costs $508.88 $40,710.70 $144.95 $11,595.98 $653.83 $52,306.68 Description Tax A Total Tax B Total Total
Reserves (10%) - Does Not include Parks, Pavement, or Sidewalk $1,629.25 $1,159.60 $2,788.85 Auditor-Controller Fees ($135/Yr) $135.00 $135.00 $270.00 Admin (5%) - Minimum $750 $2,035.53 $750.00 $2,785.53
Total Soft Costs $47.50 $3,799.79 $25.56 $2,044.60 $73.05 $5,844.38 Grand Total $556.38 $44,510.48 $170.51 $13,640.58 $726.89 $58,151.06 Rate/Cost Rate Total Rate Total Rate Total
Per Unit $556.38 $44,510.48 $170.51 $13,640.58 $726.89 $58,151.06 Per Acre $2,463.23 $44,510.48 $754.87 $13,640.58 $3,218.10 $58,151.06 TrailsSoft Costs
Tax A Tax B ALL
LandLightStreetsDrainParks