City Council Chambers
29844 Haun Road
Menifee, CA 92586
Dean Deines, District 4
Dan Temple, District 3 MINUTES
Finance Committee
Special Meeting Minutes
Tuesday, October 14, 2025
4:00 PM Special Meeting
Travis Hickey, Chief Financial Officer
Rachel Valencia, Clerk
SPECIAL MEETING (4:00 PM)
1. CALL TO ORDER
Councilmember Deines called the meeting to order at 4:02 PM.
2. ROLL CALL
Present: Dan Temple, Dean Deines
Absent: Ricky Estrada
3. PRESENTATIONS - NONE
There were no presentations.
4. APPROVAL OF MINUTES
The following set of minutes were approved unanimously (2-0) with no modifications.
4.1 September 9, 2025 Finance Committee Meeting Minutes
5. DISCUSSION ITEMS
5.1 Proposed Amendment No. 1 to the Development Agreement with BLC Fleming and Lennar, LLC for the Legado project (Legado Specific Plan) Chief Financial Officer Travis Hickey introduced the item and Management Analyst Molly Binnall. Ms. Binnall provided a presentation. The Committee had general questions regarding the distance of the parks from the project.
Councilmember Deines inquired about the status of builds in the area of the project, extending the certificate of occupancy, the timeline of how long it would take to get a park in area of the project, timeline of when residents in the area of the project could begin doing recreational activities, and when referenced paseos would be developed.
Additionally, Councilmember Deines expressed concern that there is nothing currently in place for residents during the project development, stated support for Community Facilities District premium being put back into the project for residents, emphasized the importance of having restrooms/utilities nearby for residents who visit the parks, and confirmed the numbers of the project won’t affect the development of those utilities.
The Committee unanimously approved the recommendation.
ACTION
1. Reviewed the proposed Amendment No. 1 for the existing Development Agreement (2018-277) between the City of Menifee and BLC Fleming, LLC and Lennar, LLC dated June 3, 2020 for the Legado development and recommended submittal to the City Council for approval.
5.2 Bond Premium Reimbursement with Lennar Homes for Community Facilities District No. 2022-3, Legado, IA1
Chief Financial Officer Hickey introduced the item and provided an overview.
Councilmember Deines asked general questions regarding the use of bond premium. He stated his support for putting the premium back into the project as long as it abided by regulations governing the use of bond proceeds.
The Committee unanimously approved the recommendation.
ACTION
1. Discussed the proposed bond premium reimbursement for Community Facilities District No. 2022-3, Improvement Area 1, and recommended presenting it to the City Council for consideration.
5.3 Annual Update on Community Facilities District Bond Premiums Chief Financial Officer Travis Hickey introduced the item and Financial Analyst Lauri Lockwood provided a report.
Councilmember Deines inquired about the playground enhancement at Banner Park and total cost prediction.
The Committee unanimously approved the recommendation.
ACTION
1. Received the annual report with updated details on Community Facility District (CFD) bond premiums.
6. ADJOURN
Councilmember Deines adjourned the meeting at 4:34 PM.
Rachel Valencia, Meeting Clerk