CITY OF MENIFEE
SUBJECT: Annual Levy for Bonded Community Facilities Districts for Fiscal Year 2026/2027
MEETING DATE: July 15, 2026
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 Ranch; 2023-2, Cimarron Ridge IA1 and IA2; 2024-1, Banner Park II; 2024-2, Golden Meadows IA1, IA2, IA3, and IA4; 2024-3, River Walk Village; 2025-1, Menifee Vista; 2025-2, Quartz Trail; 2025-4, Heritage Village; and 2025-5, Nautical Cove, for Fiscal Year 2026/2027.
DISCUSSION
The Fiscal Year (FY) 2026/2027 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 •CFD 2023-1 Rockport, FY 2024/2025
City of Menifee Staff Report
Annual Levy for Bonded Community Facilities Districts for Fiscal Year 2026/2027 July 15, 2026
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•CFD 2023-2 IA1 Cimarron Ridge, FY 2024/2025
•CFD 2022-2 McLaughlin Village, FY 2025/2026
•CFD 2022-3 Legado IA1, FY 2025/2026
•CFD 2024-1 Banner Park II, 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 below shows the annual levy amounts needed for each district to cover obligations for FY 2026/2027.
TABLE 1: CITY OF MENIFEE COMMUNITY FACILITIES DISTRICTS PRELIMINARY SUMMARY OF FIXED CHARGES FOR FISCAL YEAR 2026/2027
District Name County
Fund No. Levied Parcels Preliminary
FY 2026-27 Levy
CFD 2019-1 Meadow Run 68-0262-FC 65 $162,067.14
CFD 2020-1 McCall Mesa 68-0263-FC 258 $791,064.21
CFD 2020-2 Del Oro 68-0264-FC 68 $183,375.99
CFD 2021-1 Banner Park 68-0410-FC 256 $704,830.93
CFD 2021-2 Sumac Ridge 68-0411-FC 175 $593,838.95
CFD 2022-1 Quartz Ranch 68-0412-FC 379 $1,273,548.55
CFD 2022-2 McLaughlin Village 68-0413-FC 126 $335,601.60 CFD 2022-3 IA1 Legado 68-0414-FC 301 $1,052,636.94
CFD 2022-3 IA2 Legado 68-0541-FC 17 $5,100.00
CFD 2022-3 IA3 Legado 68-3984-FC 4 $5,100.00
CFD 2023-1 Rockport Ranch 68-0542-FC 305 $1,033,684.51
CFD 2023-2 IA1 Cimarron Ridge 68-0543-FC 424 $413,888.10 CFD 2023-2 IA2 Cimarron Ridge 68-0544-FC 177 $392,137.58 CFD 2024-1 Banner Park II 68-3985-FC 172 $584,354.19
CFD 2024-2 IA1 Golden Meadows 68-3986-FC 109 $5,100.00
CFD 2024-2 IA2 Golden Meadows 68-3987-FC 1 $5,100.00
CFD 2024-2 IA3 Golden Meadows 68-3988-FC 1 $5,100.00
CFD 2024-2 IA4 Golden Meadows 68-3989-FC 1 $5,100.00
CFD 2024-3 River Walk Village 68-3990-FC 87 $151,752.75 CFD 2025-1 Menifee Vista 68-xxxx-FC 1 $54,799.50
CFD 2025-2 Quartz Trail 68-3991-FC 75 $332,776.02
CFD 2025-4 Heritage Village 68-3992-FC 1 $159,411.72
CFD 2025-5 Nautical Cove 68-xxxx-FC 1 $183,955.98
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 City of Menifee Staff Report
Annual Levy for Bonded Community Facilities Districts for Fiscal Year 2026/2027 July 15, 2026
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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.
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 the Bonded CFD levies are considered fiduciary funds, i.e. not directly spendable by the City. The FY 2026/2027 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)