CITY OF MENIFEE
SUBJECT: Annual Levy for Bonded Community Facilities Districts for Fiscal Year 2025/2026
MEETING DATE: July 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 a resolution ordering the levy and collection of special taxes within each of the following Community Facilities Districts: 2019-1, Meadow Run; 2020-1, McCall Mesa; 2020-2, Del Oro; 2021-1, Banner Park; 2021-2, Sumac Ridge; 2022-1, Quartz Ranch; 2022-2, McLaughlin Village; 2022-3, Legado Improvement Area (IA) 1, IA2 and IA3; 2023-1, Rockport; 2023-2, Cimarron Ridge Improvement Area 1 and IA2; 2024-1, Banner Park II; 2024-2, Golden Meadows IA1, IA2, IA3, and IA4; 2024-3, River Walk Village; 2025-2, Quartz Trail; and 2025- 4, Heritage Village, for Fiscal Year 2025/26.
DISCUSSION
The Fiscal Year (FY) 2025/2026 budget for each Bonded Community Facilities District (CFD) is designed to cover principal and interest payments, construction of future facilities, administrative costs, and/or service costs. These CFDs have been formed over the last few years at the request of the corresponding developer to finance certain public improvements through the levy of special taxes and the issuance of bonds.
To date, bonds have been issued for:
CFD 2019-1 Meadow Run, FY 2021/2022
CFD 2020-1 McCall Mesa, FY 2021/2022
CFD 2020-2 Del Oro, FY 2022/2023
CFD 2021-1 Banner Park, FY 2022/2023
Additional bonds for CFD 2020-1 McCall Mesa, FY 2022/2023 Additional bonds for CFD 2021-1 Banner Park, FY 2023/2024 CFD 2021-2 Sumac Ridge, FY 2023/2024
CFD 2022-1 Quartz Ranch, FY 2023/2024
Additional bonds for CFD 2022-1 Quartz Ranch, FY 2024/2025
City of Menifee Staff Report
CFD levy
July 16, 2025
2 7
8 2
CFD 2023-1 Rockport, FY 2024/2025
CFD 2023-2 IA1 Cimarron Ridge, FY 2024/2025
CFD 2022-2 McLaughlin Village, will be issued by end of July, FY 2025/2026 Any funds collected prior to bonds being issued and after administration costs have been deducted will be used to finance public improvements included within the CFD. Table 1 shows the annual levy amounts needed for each district to cover district obligations for FY 2025/2026.
TABLE 1: CITY OF MENIFEE COMMUNITY FACILITIES DISTRICTS PRELIMINARY SUMMARY OF FIXED CHARGES FOR FISCAL YEAR 2025/2026
District Name County
Fund No.
Levied
Parcels
Preliminary
FY 2025-26 Levy
CFD 2019-1 Meadow Run 68-0262-FC 65 $165,977.42
CFD 2020-1 McCall Mesa 68-0263-FC 258 $776,469.60
CFD 2020-2 Del Oro 68-0264-FC 68 $183,618.56
CFD 2021-1 Banner Park 68-0410-FC 256 $691,989.31
CFD 2021-2 Sumac Ridge 68-0411-FC 175 $585,827.71
CFD 2022-1 Quartz Ranch 68-0412-FC 379 $1,248,577.01
CFD 2022-2 McLaughlin Village 68-0413-FC 124 $323,798.97 CFD 2022-3 IA1 Legado 68-0414-FC 101 $351,080.00
CFD 2022-3 IA2 Legado 68-0541-FC 7 $5,000.00
CFD 2022-3 IA3 Legado 68-3984-FC 4 $5,000.00
CFD 2023-1 Rockport 68-0542-FC 305 $1,013,416.19
CFD 2023-2 IA1 Cimarron Ridge 68-0543-FC 412 $388,635.18 CFD 2023-2 IA2 Cimarron Ridge 68-0544-FC 89 $171,991.65 CFD 2024-1 Banner Park II 68-3985-FC 71 $235,008.00
CFD 2024-2 IA1 Golden Meadows 68-3986-FC 1 $5,000.00
CFD 2024-2 IA2 Golden Meadows 68-3987-FC 1 $5,000.00
CFD 2024-2 IA3 Golden Meadows 68-3988-FC 1 $5,000.00
CFD 2024-2 IA4 Golden Meadows 68-3989-FC 1 $5,000.00
CFD 2024-3 River Walk Village 68-3990-FC 55 $93,896.10
CFD 2025-2 Quartz Trail 68-3991-FC 34 $148,517.00
CFD 2025-4 Heritage Village 68-3992-FC 3 $5,000.00
Total $6,413,802.70
The County of Riverside requires the resolution as confirmation for the special tax amounts to be added to the assessment rolls. The special taxes were previously established with the adoption of the ordinance associated with each of the CFDs, and those are not changing as a result of this action. The City charges administrative fees and an amount sufficient to cover direct costs as well as the collection for annual debt service and/or construction of future facilities for the various special districts.
City of Menifee Staff Report
CFD levy
July 16, 2025
2 7
8 2
STRATEGIC PLAN OBJECTIVE
Regular City Business
FISCAL IMPACT
There is no fiscal impact to the City’s General Fund associated with this item and all revenue collected from Bonded CFD levies are considered fiduciary funds, i.e. not directly spendable by the City. The FY 2025/2026 budget for each CFD is designed to cover principal and interest payments, construction of future facilities, administrative costs, and/or service costs. These CFDs have been formed over the last few years at the request of the corresponding developer to finance certain public improvements through the levy of special taxes and the issuance of bonds.
ATTACHMENTS
1. Resolution
2. Exhibit A (Preliminary Summary of Fixed Charges)