CFD 2025‐2 (Quartz Trail)
Proforma Summary Sheet
Applicant: Lennar Homes
Project Description
Acreage Gross: 25.89; Net: 18.19
Development Description Detached Single Family Residential Number of Units (50 min) 80 Units
Estimated Home Size Range 2,767 SF to 4,134 SF
Average Home Size 3,334 SF
Average Estimated Home Price $751,995
Total Effective Tax Rate (2.00% Max) 1.81%
CFD Tax Rate Range $3,960 to $4,994
Escalation (2.00% Max) Yes, 2.00%
Maintenance CFD Yes, CFD 2017‐1 Tax Zone 13
Maintenance CFD Rate $606/Unit
Bond Sizing Assumptions
Average Coupon 5.00%
Priority Administration $30,000
Cost of Issuance $250,000
Capitalized Interest Period 0‐months
Special Tax Escalation 2%
Bond Term 30 Years
Underwriter Discount 2.00%
Total Special Tax Revenues $345,479
Estimated Sources and Uses
Sources
Par Bond Amount $5,630,000
Uses
Reserve Fund $487,425
Capitalized Interest $0
Underwriter Discount $112,600
Cost of Issuance $250,000
Improvement Fund $4,779,975
Allocation of Improvement Fund
Description % of Total Total Eligible Potentially Funded City Fees & Facilities 49% $2,338,254 $2,338,254
City Premium (20%) 5% $253,780 $253,780
Eastern Municipal Water District 46% $2,919,162 $2,187,941 Totals $5,511,196 $4,779,975
Unfunded $731,221
Proposed Schedule
Finance Committee November 12, 2024
Resolution of Intention January 15, 2025
Public Hearing March 5, 2025
2nd Reading Ordinance March 19, 2025