City Council Chambers
29844 Haun Road
Menifee, CA 92586
Ricky Estrada, Mayor
Dean Deines, District 4
MINUTES
Finance Committee
Regular Meeting Minutes
Tuesday, July 08, 2025
2:00 PM Regular Meeting
Travis Hickey, Chief Financial
Officer
Edna A. Aguilar, Meeting Clerk
REGULAR MEETING (4:00 PM)
1. CA
LL TO ORDER
M
ayor Estrada called the meeting to order at 4:01 PM.
2. RO
LL CALL
P
resent: Ricky Estrada, Dean Deines
Absent: None
3. P
RESENTATIONS
Ther
e were no presentations.
4. P
UBLIC COMMENTS (NONAGENDA ITEMS)
Ther
e were no public comments.
5. A
PPROVAL OF MINUTES
The f
ollowing set of minutes were approved unanimously (2-0) with no modifications.
5. 1 May 13, 2025, Finance Committee Meeting Minutes
6. DI
SCUSSION ITEMS
6. 1 Community Facilities District Bond Maturity and First Call Dates Deputy Finance Director Margarita Cornejo introduced the item and provided an overview. Consultants Shane Spicer (Spicer Group, Special Tax Consultant), Branden Kfoury (Urban Futures, Inc.), and Brian Forbath (Stradling, Yocca, Carlson & Rauth, Bond Counsel) were present to respond to questions.
M
ayor Estrada had general questions on formation and issuance of bonds .
Councilmember Deines expressed interest in periodically reviewing bonds to determine whether refunds could be issued to property owners.
The C
ommittee unanimously approved the recommended action.
A
CTION
1. Received and filed a report on the maturity dates and first call dates for the City’s Community Facilities District bonds.
City of Menifee Finance Committee Minutes
July 8, 2025
6.2 Proposed Formation of Community Facilities District 2025-5, N autical Cove, by KB Home
D
eputy Finance Director Margarita Cornejo introduced the item and provided an overview.
Mayor Estrada had general questions about City fees and City premiums.
Councilmember Deines recommended that the City premium fees be used within the district to benefit the homeowners who are paying the special assessment.
The Committee unanimously approved the recommended action.
ACTION
1. Reviewed the proposed Community Facilities District (CFD) 2025 -5, Nautical Cove, to finance certain costs of public improvements for the development of 233 single
- f
amily homes located north of Holland Road between Southshore Drive and Briggs Road and recommended submittal to the City Council for consideration.
6. 3 Proposed Formation of Community Facilities District 2025-3, Q uail Hills, by Quail
Hills, LP
D
eputy Finance Director Margarita Cornejo introduced the item and provided an overview.
Committee members asked questions of staff.
The Committee unanimously approved the recommended action.
ACTION
1. Reviewed the proposed Community Facilities District (CFD) 2025 -3, Quail Hills, to finance certain costs of public improvements for the development of 130 single-f
amily homes located between Williams Drive and Goetz Road and recommended submittal to the City Council for consideration.
6. 4 Policy CC
-2
0 – Special Assessment and Community Facilities District Goals and Policies Proposed Amendment
D
eputy Finance Director Margarita Cornejo introduced the item and provided an overview.
Committee members reviewed and provided feedback to staff on Policy CC-20.
The Committee unanimously approved the recommended action.
ACTION
1. Reviewed and provided feedback on the proposed revisions to the Special Assessment and Community Facilities District Goals and Policies (CC -20)
including additional recommended policy updates.
City of Menifee Finance Committee Minutes
July 8, 2025
6.5 Public Safety Services Community Facilities District
Deputy Finance Director Margarita Cornejo presented the item and provided a general overview of the item.
The Committee unanimously approved the recommended action.
ACTION
1. Provided feedback to staff on the proposed formation of a Public Safety Services Community Facilities District (CFD) and initiation of a fiscal impact analysis study.
7. STAFF COMMENTS
There were no staff comments.
8. COMMITTEE MEMBER UPDATES AND COMMENTS
There were no reports on Committee activities.
9. FUTURE AGENDA ITEMS
There were no future agenda item requests.
10. ADJOURNMENT
The meeting adjourned at 6:00 PM.
_____________________________________________
Edna A. Aguilar
Management Analyst
City of Menifee Finance Committee Minutes
July 8, 2025