CITY OF MENIFEE
SUBJECT: Second Reading and Adoption of Ordinance to Levy Special Taxes, Community Facilities District No. 2025-4, Heritage Village
MEETING DATE: April 16, 2025
TO: Mayor and City Council
PREPARED BY: Lauri Lockwood, Financial Analyst
REVIEWED BY: Travis Hickey, Chief Financial Officer
APPROVED BY: Armando G. Villa, City Manager
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RECOMMENDED ACTION
1. Adopt an ordinance authorizing the levy of special taxes within Community Facilities District No. 2025-4, Heritage Village, located on the northwest corner of Menifee Road and Rouse Road.
DISCUSSION
At the April 2, 2025, City Council hearing, this ordinance was introduced for a first reading. This is the required second reading and adoption. The ordinance would become effective 30 days from the date of adoption.
STRATEGIC PLAN OBJECTIVE
Regular City Business
FISCAL IMPACT
The District will be required to annually levy special taxes on all the taxable property within the CFD in order to pay for the costs of facilities, debt service on bonds and administration of the CFD. Any bonds issued by the District are not obligations of the City and would be secured solely by the special taxes levied in the CFD. The developer has made a deposit to pay for the costs of forming the CFD.
ATTACHMENTS
1. Ordinance - CFD No. 2025-4, Heritage Village