CITY OF MENIFEE
SUBJECT: Proposed Change Proceedings for Improvement Area No. 1 of Community Facilities District No. 2022-3, Legado
MEETING DATE: June 4, 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 a resolution of consideration to amend the rate and method of apportionment and modify the authorized facilities for Improvement Area No. 1 of Community Facilities District No. 2022-3, Legado, located to the northwest of Antelope Road and Chambers Avenue and south of Rouse Road, and set a public hearing date for July 16, 2025.
DISCUSSION
The City of Menifee (“the City”) previously formed Community Facilities District No. 2022-3, Legado, of the City of Menifee (the “CFD”), which consists of the development project known as Legado. The property is located to the northwest of Antelope Road and Chambers Avenue and south of Rouse Road, as shown in the attached Location Map.
The CFD currently includes three improvement areas. Lennar Homes of California, LLC (“Lennar”) and KL LB Buy 1 LLC, a Delaware Limited Liability Company, as Lennar’s landbank (the “Landbank”), together own all of the property in Improvement Area No. 1. Lennar and the Landbank have requested that the City undertake change proceedings with respect to Improvement Area No. 1 to: (1) amend the rate and method of apportionment as a result of changes in home product types and pricing since the time the CFD was formed and (2) to add dry utilities to the facilities that the CFD is authorized to finance for Improvement Area No. 1.
The Resolution of Consideration, which calls for a public hearing, is the first step in the process to accomplish those. A public hearing on the matter would take place on July 16, 2025, and at that time the Council would formally consider the changes described above.
City of Menifee Staff Report
Proposed Change Proceedings for IA1 of CFD 2022-3, Legado June 4, 2025
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STRATEGIC PLAN OBJECTIVE
Regular City Business
FISCAL IMPACT
All costs for the change proceedings will be covered through the deposit made by Lennar, which may be reimbursed to Lennar in accordance with the reimbursement agreement previously entered into with Lennar. No additional budget appropriation action(s) is required.
ATTACHMENTS
1. Project Location Map CFD 2022-3
2. Resolution of Consideration CFD 2022-3