CFD 2024‐1 (Banner Park II)
Proforma Summary Sheet
Applicant: Pulte Homes
Assumptions
Description Amount
Average Coupon 5.00%
Priority Administration $30,000
Cost of Issuance $250,000
Capitalized Interest Period 0‐months
Special Tax Escalation 2%
Bond Term 30 Years
Underwriter Discount 1.50%
Total Special Tax Revenues $393,488
Estimated Sources and Uses
Sources
Par Bond Amount $6,360,000
Uses
Reserve Fund $885,802
Capitalized Interest $0
Underwriter Discount $95,400
Cost of Issuance $250,000
Improvement Fund $5,128,798
Allocation of Improvement Fund
Description Orig. Eligible Costs 2026 Bonds
City Facilities $6,664,922 $4,162,194
City Fees $1,132,119 $740,180
City Premium $226,424 $226,424
EMWD Fees & Facilities $3,422,662
Menifee USD $637,000
Dry Utilities $508,750
Totals $12,591,877 $5,128,798
Unfunded $7,463,079
Other Items
Acreage Gross: 80.58; Net:
31.30 Development Description Detached Singl
e-Fami
ly Residential
Number
of Units (50 min) 182 Total Units; Bonding on 119 Estimat
ed Home Size Rang
e 2,191 SF to 3,237 SF
Average Home Size 2,615 SF
Average Estimated Home Price $654,713
Total Effecti
ve Tax Rat
e (2% Max) 1.89%‐1.91%
CFD Tax Rate Range $3,011 to $3,773
Escalation (2.00%
Max) Yes, 2.00%
Maintenance CFD CFD 2017‐
1 Tax Zone 23
Maintenance CFD Rat
e $1,326 per Uni
t