CITY OF MENIFEE DRAFT v1
Community Facilities District No. 2025‐3
(Quail Hills)
Tract Nos. 37692
Calculation of Bond Sizing and Total Tax Rates
I. Home Prices and Combined Tax Rates:
Plan 1234567 CFD TOTAL
Range of Home Sizes in Square Feet per RMA Under 1,800 to 2,001 to 2,201 to 2,401 to 2,601 to Over 1,800 2,000 2,200 2,400 2,600 2,800 2,800
Estimated Home Size 1,700 1,898 2,150 2,239 2,445 2,650 2,850 2,342 Estimated Home Price $550,990 $565,990 $584,990 $599,990 $612,990 $625,990 $641,990 $603,582 Ad‐Valorem Tax Rate (1.00%) $5,509.90 $5,659.90 $5,849.90 $5,999.90 $6,129.90 $6,259.90 $6,419.90 $6,035.82 Metro Water East (0.00700%) $38.57 $39.62 $40.95 $42.00 $42.91 $43.82 $44.94 $42.25 Menifee School (0.05080%) $279.90 $287.52 $297.17 $304.79 $311.40 $318.00 $326.13 $306.62 Perris Union HS (0.06850%) $377.43 $387.70 $400.72 $410.99 $419.90 $428.80 $439.76 $413.45 Mt. San Jacinto Jr. College (0.00268%) $14.77 $15.17 $15.68 $16.08 $16.43 $16.78 $17.21 $16.18 EMWD Improvement District U‐35 (0.00860%) $47.39 $48.68 $50.31 $51.60 $52.72 $53.84 $55.21 $51.91 EMWD Improvement District U‐36 (0.00860%) $47.39 $48.68 $50.31 $51.60 $52.72 $53.84 $55.21 $51.91 Subtotal GO Bond Debt $6,315.34 $6,487.26 $6,705.04 $6,876.97 $7,025.97 $7,174.97 $7,358.36 $6,918.14 Flood Control Stormwater $3.75 $3.75 $3.75 $3.75 $3.75 $3.75 $3.75 $3.75 EMWD Standby $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 MWD Standby Charge $6.94 $6.94 $6.94 $6.94 $6.94 $6.94 $6.94 $6.94 Perris Union HS CFD 92‐1 $336.00 $336.00 $336.00 $336.00 $336.00 $336.00 $336.00 $336.00 EMWD Proposed CFD $2,000.00 $2,050.00 $2,100.00 $2,150.00 $2,200.00 $2,250.00 $2,300.00 $2,168.08 Proposed CFD No. 2017‐1 ‐ Maint Svcs* $589.00 $589.00 $589.00 $589.00 $589.00 $589.00 $589.00 $589.00 Proposed CFD No. 2025‐3 ‐ Facilities Tax** $1,711.00 $1,788.00 $1,899.00 $1,976.00 $2,036.00 $2,097.00 $2,182.00 $1,988.53 Subtotal Special Assessments and Taxes $4,671.69 $4,798.69 $4,959.69 $5,086.69 $5,196.69 $5,307.69 $5,442.69 $5,117.30 Total Annual Property Taxes $10,987.03 $11,285.95 $11,664.73 $11,963.66 $12,222.66 $12,482.66 $12,801.05 $12,035.44 Annual Prop. Tax Rates as % of Home Price 1.99% 1.99% 1.99% 1.99% 1.99% 1.99% 1.99% 1.99% Unit Mix ‐ 21 21 44 ‐ 22 22 130 (1)Total CFD ‐ Annual Tax Collections $0 $37,548 $39,879 $86,944 $0 $46,134 $48,004 $258,509 (2)Administration $30,000
Total Annual Special Taxes for Bonding
((1)Special Taxes ‐ (2)Admin. / 110% Cov) $0 $30,173 $32,046 $69,867 $0 $37,073 $38,576 $207,735 II. Total Estimated Home Square Footage: ‐ 39,858 45,150 98,516 ‐ 58,300 62,700 304,524 * 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) $3,980,000 Underwriter Discount (2.00%) $79,600
Reserve Fund (Maximum Annual Debt Service) $348,465
Capitalized Interest (0 mos.) $0
Incidental Costs (Estimate) $250,000
Total Discount, Reserve Fund, Capitalized Interest and Incidental Costs $678,065 Net Bond Proceeds $3,301,935
CITY OF MENIFEE DRAFT v1
Community Facilities District No. 2025‐3
(Quail Hills)
Tract Nos. 37692
Summary of Acreage, Undeveloped Property
And Backup Special Tax Rates
Tract Nos. 37692
130 Lots
(Quail Hills)
I. Calculation of Net Taxable Acres:
Gross Acreage 43.42
Less: Exempt Acres 26.63
Net Taxable Acres 16.79
II. Calculation of Undeveloped Property Tax Rate:
Total Developed Property Revenues $258,509
Net Taxable Acres 16.79
Less: Contingency Factor (10%) 1.68
Net Taxable Acres (Adjusted) 15.11
Undeveloped Property Tax Rate per Acre $17,106
Total Exempt Acreage 28.31
III. Calculation of Backup Special Tax Rate:
A. Backup Special Tax Rate per Unit
Total Taxable Acres 16.79
Undeveloped Property Tax Rate per Acre $17,106
Total Units 130
Backup Special Tax per Unit $2,209
B. Backup Special Tax Rate per Lot Square Foot
Total Developed Property Revenues $258,509
Total Net Acres (Square Feet) 658,268
Backup Special Tax Rate per Lot Square Foot $0.3927
CITY OF MENIFEE DRAFT v1
Community Facilities District No. 2025‐3
(Quail Hills)
Tract Nos. 37692
Calculation of Bond Sizing and Total Tax Rates
Debt Service No. of Total Annual
Tax Rate Units Collectable Tax Max Tax Rates
Less than 1,800 $1,711 0 $0 $0
1,800 to 2,000 $1,788 21 $37,548 $46,398
2,001 to 2,200 $1,899 21 $39,879 $46,398
2,201 to 2,400 $1,976 44 $86,944 $97,214
2,401 to 2,600 $2,036 0 $0 $0
2,601 to 2,800 $2,097 22 $46,134 $48,607
Greater than 2,800 $2,182 22 $48,004 $48,607
Non‐residential Property $17,106
Backup Tax Rate per Unit $2,209
Backup Tax Rate per S.F. $0.3927
130 $258,509 $287,224
Tax Rate for Bonding $233,840
Sizing at Max tax rate $4,500,000
Future Facilities (rounded up) $4,000,000
Range of Home Sizes
CITY OF MENIFEE DRAFT v1
Community Facilities District No. 2025‐3
(Quail Hills)
Tract Nos. 37692
Lot Summary
Lot SF Acreage Lot SF Acreage Lot SF Acreage Lot SF Acreage 1 6,746 0.15 41 5,432 0.12 81 5,291 0.12 121 6,989 0.16 2 5,332 0.12 42 5,291 0.12 82 5,008 0.11 122 5,657 0.13 3 5,174 0.12 43 5,250 0.12 83 5,004 0.11 123 5,311 0.12 4 5,170 0.12 44 5,250 0.12 84 6,064 0.14 124 5,250 0.12 5 5,170 0.12 45 5,250 0.12 85 6,455 0.15 125 7,524 0.17 6 5,170 0.12 46 5,251 0.12 86 5,270 0.12 126 5,501 0.13 7 5,171 0.12 47 7,464 0.17 87 5,265 0.12 127 5,035 0.12 8 5,300 0.12 48 6,681 0.15 88 5,170 0.12 128 5,035 0.12 9 5,780 0.13 49 5,041 0.12 89 5,595 0.13 129 5,041 0.12 10 6,524 0.15 50 5,035 0.12 90 5,652 0.13 130 6,416 0.15 11 8,335 0.19 51 5,036 0.12 91 5,418 0.12 12 8,638 0.20 52 5,073 0.12 92 5,415 0.12 13 6,389 0.15 53 5,182 0.12 93 5,019 0.12 14 5,714 0.13 54 5,173 0.12 94 5,049 0.12 15 5,725 0.13 55 5,079 0.12 95 5,085 0.12 16 5,256 0.12 56 5,039 0.12 96 5,205 0.12 17 5,239 0.12 57 5,035 0.12 97 5,231 0.12 18 5,239 0.12 58 5,036 0.12 98 5,395 0.12 19 5,239 0.12 59 5,065 0.12 99 6,328 0.15 20 5,239 0.12 60 5,109 0.12 100 5,017 0.12 21 5,257 0.12 61 5,061 0.12 101 5,646 0.13 22 5,390 0.12 62 5,469 0.13 102 5,665 0.13 23 5,461 0.13 63 5,138 0.12 103 5,760 0.13 24 6,350 0.15 64 5,001 0.11 104 5,959 0.14 25 7,544 0.17 65 5,001 0.11 105 5,000 0.11 26 6,029 0.14 66 5,001 0.11 106 5,000 0.11 27 5,684 0.13 67 5,632 0.13 107 5,006 0.11 28 5,733 0.13 68 9,716 0.22 108 5,092 0.12 29 5,775 0.13 69 6,977 0.16 109 6,101 0.14 30 5,796 0.13 70 6,020 0.14 110 6,744 0.15 31 5,910 0.14 71 6,024 0.14 111 6,744 0.15 32 6,221 0.14 72 5,393 0.12 112 5,745 0.13 33 6,276 0.14 73 5,299 0.12 113 5,324 0.12 34 6,006 0.14 74 5,976 0.14 114 5,051 0.12 35 5,810 0.13 75 5,922 0.14 115 5,103 0.12 36 5,775 0.13 76 5,796 0.13 116 5,457 0.13 37 5,314 0.12 77 5,258 0.12 117 5,847 0.13 38 5,279 0.12 78 5,293 0.12 118 5,024 0.12 39 5,381 0.12 79 5,358 0.12 119 5,467 0.13 40 5,478 0.13 80 5,426 0.12 120 5,427 0.12 Totals 233,019 5.35 221,533 5.09 219,098 5.03 57,759 1.33 ‐ ‐ Grand Total 731,409 16.79
CITY OF MENIFEE DRAFT v1
Community Facilities District No. 2025‐3
(Quail Hills)
Tract Nos. 37692
Use of Bond Proceeds
CFD 2025‐3 Tract Nos. 37692
130 Lots
FUNDING REQUIREMENTS Per Lot (Quail Hills)
City Fees
Law Enforcement $1,035 $134,550
Fire Facilities $724 $94,120
Circulation $7,943 $1,032,590
General Govt $1,316 $171,080
Parks and Recreation $1,928 $250,640
Quimby $8,308 $1,080,008
Subtotal City Fees $21,254 $2,762,988
City Premium (20%) $4,251 $552,598
Total City Fees $25,505 $3,315,586
Total Cost $25,505 $3,315,586
Potential Project Funds Available $3,301,935
ALLOCATION OF PROCEEDS % Per Lot Total
City Premium 17% $4,251 $552,598
City Fees 83% $9,852 $2,749,337
Total Funded by Bond Proceeds 100% $14,103 $3,301,935
UNFUNDED REQUIREMENTS
Net Bond Proceeds Deficit ($0)
Unfunded Requirement $13,651
Total Fees to be Funded by Developer $13,651
CITY OF MENIFEE DRAFT v1
Community Facilities District No. 2025‐3
(Quail Hills)
Tract Nos. 37692
Revenue Coverage ‐ Assigned Tax Rate
Year
Period
Ending
Gross
Revenues
Priority
Admin Principal Coupon Interest
Net Debt
Service
Debt
Service
Coverage
1 9/1/2027 $258,509 $30,000 $5,000 5.00% $199,000 $204,000 112.01% 2 9/1/2028 $263,679 $30,600 $10,000 5.00% $198,750 $208,750 111.65% 3 9/1/2029 $268,953 $31,212 $15,000 5.00% $198,250 $213,250 111.48% 4 9/1/2030 $274,332 $31,836 $20,000 5.00% $197,500 $217,500 111.49% 5 9/1/2031 $279,818 $32,473 $25,000 5.00% $196,500 $221,500 111.67% 6 9/1/2032 $285,415 $33,122 $30,000 5.00% $195,250 $225,250 112.01% 7 9/1/2033 $291,123 $33,785 $35,000 5.00% $193,750 $228,750 112.50% 8 9/1/2034 $296,946 $34,461 $45,000 5.00% $192,000 $237,000 110.75% 9 9/1/2035 $302,884 $35,150 $50,000 5.00% $189,750 $239,750 111.67% 10 9/1/2036 $308,942 $35,853 $60,000 5.00% $187,250 $247,250 110.45% 11 9/1/2037 $315,121 $36,570 $65,000 5.00% $184,250 $249,250 111.76% 12 9/1/2038 $321,423 $37,301 $75,000 5.00% $181,000 $256,000 110.99% 13 9/1/2039 $327,852 $38,047 $85,000 5.00% $177,250 $262,250 110.51% 14 9/1/2040 $334,409 $38,808 $95,000 5.00% $173,000 $268,000 110.30% 15 9/1/2041 $341,097 $39,584 $105,000 5.00% $168,250 $273,250 110.34% 16 9/1/2042 $347,919 $40,376 $115,000 5.00% $163,000 $278,000 110.63% 17 9/1/2043 $354,877 $41,184 $125,000 5.00% $157,250 $282,250 111.14% 18 9/1/2044 $361,975 $42,007 $135,000 5.00% $151,000 $286,000 111.88% 19 9/1/2045 $369,215 $42,847 $150,000 5.00% $144,250 $294,250 110.91% 20 9/1/2046 $376,599 $43,704 $165,000 5.00% $136,750 $301,750 110.32% 21 9/1/2047 $384,131 $44,578 $175,000 5.00% $128,500 $303,500 111.88% 22 9/1/2048 $391,813 $45,470 $195,000 5.00% $119,750 $314,750 110.04% 23 9/1/2049 $399,650 $46,379 $210,000 5.00% $110,000 $320,000 110.40% 24 9/1/2050 $407,643 $47,307 $225,000 5.00% $99,500 $324,500 111.04% 25 9/1/2051 $415,796 $48,253 $245,000 5.00% $88,250 $333,250 110.29% 26 9/1/2052 $424,111 $49,218 $260,000 5.00% $76,000 $336,000 111.58% 27 9/1/2053 $432,594 $50,203 $280,000 5.00% $63,000 $343,000 111.48% 28 9/1/2054 $441,246 $51,207 $305,000 5.00% $49,000 $354,000 110.18% 29 9/1/2055 $450,070 $52,231 $325,000 5.00% $33,750 $358,750 110.90% 30 9/1/2056 $459,072 $53,275 $350,000 5.00% $17,500 $367,500 110.42% Total $10,487,214 $1,217,042 $3,980,000 $4,369,250 $8,349,250 111.03% CITY OF MENIFEE DRAFT v5
CFD No. 2017-1 (Maintenance Services)
Applicant Development Name Tract No. Res/Comm Date
Quail Hills LP Quail Hills TR 37692 Residential 6/10/2025 Units Net Acres Paul Onufer Gross Acres Net Acres Units Annex No. 130 16.79 Managing Member 43.42 16.79 130 25
Description Measure Unit Cost Tax A Total Tax B Total Per Unit Grand Total Street Frontage SF $0.314 11,562 $3,633.00 - $0.00 $3,633.00 Trees Qty $80.16 41 $3,286.47 - $0.00 $3,286.47 Other Qty $0.00 - $0.00 - $0.00 $0.00 Subtotal $53.23 $6,919.47 $0.00 $0.00 $53.23 $6,919.47
96 Watt, 12,300 Lumens Qty $240.26 6 $1,441.56 - $0.00 $1,441.56 Other Qty $0.00 - $0.00 - $0.00 $0.00 Subtotal $11.09 $1,441.56 $0.00 $0.00 $11.09 $1,441.56
Street Sweeping LF $0.481 1,984 $954.20 $0.00 $954.20 Sidewalks - (20 year replacement) SF $0.200 10,272 $2,055.43 - $0.00 $2,055.43 Pavement Management SF $0.065 51,490 $3,356.89 - $0.00 $3,356.89 Subtotal $48.97 $6,366.52 $0.00 $0.00 $48.97 $6,366.52
Detention/Debris Basin SF $0.314 - $0.00 51,516 $16,187.29 $16,187.29 Storm Drains Pipe LF $0.267 925 $247.15 1,290 $344.68 $591.83 Curb Inlet Catch Basin EA $359.93 3 $1,079.79 10 $3,599.29 $4,679.08 Other Qty $0.00 - $0.00 - $0.00 $0.00 Subtotal $10.21 $1,326.94 $154.86 $20,131.26 $165.06 $21,458.20 Parks
Neighborhood (5 ac. Per 1,000) 3.164 pph Acre $23,579.60 2.06 $48,493.81 - $0.00 $48,493.81 Subtotal $373.03 $48,493.81 $0.00 $0.00 $373.03 $48,493.81 DG SF $0.11 12,236 $1,307.75 - $0.00 $1,307.75 Other LF $0.00 - $0.00 - $0.00 $0.00 Subtotal $10.06 $1,307.7 5 $0.00 $0.00 $10.06 $1,307.7 5 Graffiti
Abatement Unit $4.71 130 $611.88 - $0.00 $611.88 Subtotal $4.71 $611.88 $0.00 $0.00 $4.71 $611.88
Total Direct Costs $511.29 $66,467.92 $154.86 $20,131.26 $666.15 $86,599.19 Description Tax A Total Tax B Total Total
Reserves (10%) $6,643.68 $2,013.13 $8,656.81
Auditor-Controller Fees ($135/Yr) $135.00 $135.00 $270.00 Admin (5%) - Minimum $750 $3,323.40 $1,006.56 $4,329.96 Total Soft Costs $77.71 $10,102.08 $24.27 $3,154.69 $101.98 $13,256.77 Grand Total $589.00 $76,570.00 $179.12 $23,285.95 $768.12 $99,855.95 Rate/Cost Rate Total Rate Total Rate Total
Per Unit $589.00 $76,570.00 $179.12 $23,285.95 $768.12 $99,855.95 Per Acre $4,560.45 $76,570.00 $1,386.89 $23,285.95 $5,947.35 $99,855.95 Soft Costs
Tax A Tax B ALL
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