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1 RiversideCA.gov1
RiversideCA.gov
PUBLIC HEARINGCFD NO. 2025-2 SAGECRESTCity CouncilOctober 28, 2025Finance Department RiversideCA.gov2
1. Sagecrest also known as Tract No. 38913 was approved by City Council in March of 20252. The community consists of 150 townhomes, 9 of which are affordable units. Currently there are zero non-residential parcels1. Developer of this housing project is Century Communities of California LLC2. Community is located between Van Buren Blvd and Myers Street North of CA highway 91- in Ward 5BACKGROUND1 2 10/16/2025
2 RiversideCA.gov3
PROPOSED DISTRICT BOUNDARY MAP
RiversideCA.gov4
1. The formation team is comprised of City staff from the Finance Department and City Attorney’s Office. 2. Below is a list of the counterparties involved in the formation:FORMATION TEAMRoleEntity NameSpecial Tax AdvisorWebb Municipal FinanceCity’s Special Tax CouncilStradling, Yocca, Carlson & RauthDeveloperCentury Communities of California LLC 3 4
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3 RiversideCA.gov5
A CFD report was prepared by our Special Tax Advisor Webb Municipal Finance.Report Outlines:•Description of Services for the District•Cost Estimate for the District•Proposed Development •Rate and Method of Apportionment of Special TaxesDISCUSSION RiversideCA.gov6
CFD No. 2025-2 covers the maintenance and operationof a wide range of public infrastructure and services:•Streets and Transportation Assets: Roads, traffic signals, street and railroad signage, street lighting, sidewalks, trails, trees and public art•Parks and Landscaping: Parks, parkways, park lighting, landscaping on medians, public easements or rights-of-way.•Stormwater Management:Flood control ,storm drainage, and related facilities.•Cleanliness and Aesthetics: Graffiti and debris removal from public areas•Public Safety:Police and fire protection, suppression and maintenance of associated facilities SERVICES 5 6 10/16/2025
4 RiversideCA.gov7
Cost Estimateas of Fiscal Year 2025/26 $6,513 for maintenance and $84,102 for Public ServicesSpecial Tax Assessment Methodology:1. Special Tax A – Public Safety Services•Purpose: Fund Public Safety costs detailed on prior slide•Estimate FY 2026/27 Rate: $596.47/residential unit, $39,095.39/acre of non-residential property•Annual Escalation: Riverside-San Bernardino-Ontario CPI or 5%2. Special Tax B – City Maintenance and Services•Purpose: Fund Maintenance Costs detailed on the prior slide•Estimate FY 2026/27 Rate: $46.16/residential unit, $3,105.89/acre non-residential property•Annual Escalation: Riverside-San Bernardino-Ontario CPI or 3%COST & ASSESSMENT ESTIMATE RiversideCA.gov8
That the City Council:1. Conduct a Public Hearing of formation proceedings for proposed Community Facilities District No. 2025-2 (Sagecrest);2. Adopt a Resolution establishing Community Facilities District No. 2025-2 (Sagecrest), authorizing a levy of special taxes to pay the costs of providing public safety and maintenance services within the District, and calling an election therein;3. Adopt a Resolution certifying the results of the special tax election; 4. Adopt an Ordinance authorizing the levy of special taxes within CFD 2025-2 (Sagecrest); and5. With at least five affirmative votes, authorize the Chief Financial Officer, or designee, to record a supplemental appropriation and all other accounting and financial transactions, on an as-needed basis, from available deposits in the CFD No. 4 Sagecrest Special Deposit Fund, for the one-time formation costs of the Communities Facilities District.RECOMMENDATIONS7 8