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7 City Council Chambers
29844 Haun Road
Menifee, CA 92586
Dean Deines, District 4
Dan Temple, District 3
MINUTES
Finance Committee
Regular Meeting Minutes
Tuesday, January 13, 2026
2:00 PM Regular Meeting
Travis Hickey, Chief Financial
Officer
Rachel Valencia, Meeting Clerk
REGULAR MEETING (2:00 PM)
1. CALL TO ORDER
The meeting was called to order at 2:01 PM.
2. ROLL CALL
Present: Dan Temple, Dean Deines
Absent: Absent
3. PRESENTATIONS - NONE
There were no presentations.
4. PUBLIC COMMENTS (NON-AGENDA ITEMS)
There were no public comments.
5. APPROVAL OF MINUTES
The following set of minutes were approved unanimously (2-0) with no modifications.
5.1 October 14, 2025 Finance Committee Meeting Minutes
6. DISCUSSION ITEMS
6.1 Proposed Change to Community Facilities District No. 2025-4, Heritage Village, by Lennar Homes
Chief Financial Officer Travis Hickey provided a presentation. The Committee asked questions of staff. The item was approved unanimously (2-0).
ACTION
1. Reviewed the changes proposed for Community Facilities District No. 2025-4, Heritage Village, to amend the financing plan for certain public improvements within the proposed 162-unit town home development and recommended submittal to the City Council for consideration.
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7 6.2 Proposed Bond Issuance for Community Facilities District No. 2024-1, Banner Park II Chief Financial Officer Travis Hickey provided a presentation. The item was approved unanimously (2-0).
ACTION
1. Reviewed the proposed bond issuance request for Community Facilities District (“CFD”) No. 2024-1, Banner Park II by Pulte Home Co., LLC, to finance the costs of certain public improvements in connection with the development of 182 homes in a community located southeast of Domenigoni Parkway at Lindenberger Road within the City of Menifee (the “City”); and
2. Recommended the Finance Department proceed with the preparation of the Official Statement and other legal documents related to the transaction for presentation to the City Council.
6.3 Proposed Bond Issuance for Community Facilities District No. 2022-3, Improvement Area 1, Legado
Chief Financial Officer Travis Hickey provided a presentation. The Committee asked questions of staff. The item was approved unanimously (2-0).
ACTION
1. Reviewed the proposed bond issuance request for Community Facilities District (“CFD”) No. 2022-3, Improvement Area 1, Legado by Lennar Homes of California, LLC, to finance the costs of certain public improvements in connection with the development of 1,022 homes in a community located northwest of Antelope Road and Chambers Avenue and south of Rouse Road within the City of Menifee (the “City”); and
2. Recommended the Finance Department proceed with the preparation of the Official Statement and other legal documents related to the transaction for presentation to the City Council.
6.4 Finance Committee 2026 Meeting Schedule
Management Aide Rachel Valencia provided a presentation. The item was approved unanimously (2-0) with no modifications.
ACTION
1. Approved the 2026 Finance Committee Meeting dates.
6.5 Establishment of Section 115 Trust
Chief Financial Officer Travis Hickey provided a presentation. The Committee asked questions of staff. Deines inquired about how this trust would affect the City’s investment policy and how the City is going to fund the trust. The item was approved unanimously (2- 0).
ACTION
1. Recommended City Council consider engaging Public Agency Retirement Services (“PARS”) in a Professional Services Agreement for Section 115 Trusts Establishment, Administration and Investment Management Services. 5 1
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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 was adjourned at 2:41 PM.
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Rachel Valencia, Management Aide