10/8/2026
1 RiversideCA.gov
1 PUBLIC HEARING
CFD NO. 2026-1
VICTORIA GROVE / PINNACLE POINTE / THE
RANCH
City Council
October 20, 2026
Finance Department
RiversideCA.gov
2 1. The City was approached by the following three developers to form a Community Facilities District with 152 planned residential units
2. The community consists of three zones: – Zone 1- Victoria Grove: 46 units, Ward 5, developer Century Communities – Zone 2- Pinnacle Pointe: 53 units, Ward 4, developer Far-West Industries – Zone 3- The Ranch: 53 units, Ward 7, developer Meritage Homes
3. On September 15, 2026 – City Council adopted Resolutions 24423 and 24424 initiating the formation proceeds under the Mello Roos Act of 1982 and potential bonded indebtedness not to exceed $10 Million
BACKGROUND
1 2
10/8/2026
2 RiversideCA.gov
3 PROPOSED DISTRICT BOUNDARY MAP
RiversideCA.gov
4 PROPOSED DISTRICT BOUNDARY MAP
3 4
10/8/2026
3 RiversideCA.gov
5 PROPOSED DISTRICT BOUNDARY MAP
RiversideCA.gov
6 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 TEAM
Entity Name Role
Webb Municipal Finance Special Tax Advisor
Stradling, Yocca, Carlson & Rauth City’s Special Tax Council Century Communities of California LLC Developer
Far-West Industries Developer
Meritage Homes Developer
5 6
10/8/2026
4 RiversideCA.gov
7 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 Taxes
DISCUSSION
RiversideCA.gov
8 1. Special Tax A
– To Fund Facilities and potential debt service associated with the facilities
2. Special Tax B
– To Fund Maintenance Services
3. Special Tax C
– To Fund Public Safety Services
FORMATION DETAILS
7 8
10/8/2026
5 RiversideCA.gov
9 CFD No. 2026-1 covers the maintenance and operation of 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
RiversideCA.gov
10 SPECIAL TAX METHODOLOGY
Category of Tax Zone 1 Zone 2 Zone 3
$4,265-$6,155 per
Dwelling unit
$1,285-$1,935 per
Dwelling unit
$3,760-$4,530 per
Dwelling unit
Special Tax A – Facilities, Bond Debt Service (range per Residential Property)
Special Tax A – Facilities, Bond Debt Service (range per Non- $47,426 per acre $10,979 per acre $42,772 per acre Residential Property)
Special Tax B – Municipal Services (per Residential Property) $150 per Dwelling unit $73 per Dwelling unit $335 per Dwelling unit 1 Special Tax B – Municipal Services (per Non-Residential $1,721 per acre $515 per acre $3,049 per acre Property) 1
$897 per Dwelling $772 per Dwelling unit
unit
Special Tax C – Public Safety (per Residential Property) $924 per Dwelling unit 2 Special Tax C – Public Safety (per Non-Residential Property) 2$10,868 per acre $6,453 per acre $7,448 per acre 9 10
10/8/2026
6 RiversideCA.gov
11 That the City Council:
1. Conduct the Public hearing for the proposed formation of Community Facilities District No. 2026-1 (Victoria Grove/ Pinnacle Pointe/ The Ranch);
2. Adopt the Resolution establishing Community Facilities District 2026-1 (Victoria Grove/ Pinnacle Pointe/ The Ranch), authorizing the levy of special taxes, and calling a landowner election therein;
3. Adopt the Resolution determining necessity to Incur Bonded Indebtedness within Community Facilities District No. 2026-1 (Victoria Grove/ Pinnacle Pointe/ The Ranch) in an amount not to exceed $10,000,000
4. Following the landowner election, adopt a Resolution certifying the results of the Special Tax and bond election;
5. Introduce an Ordinance authorizing the levy of Special Taxes within CFD 2026-1 (Victoria Grove/ Pinnacle Pointe/ The Ranch);
6. Approve the funding agreements between the City of Riverside, Century Communities, Far-West Industries and Meritage Homes; and
7. Approve the Joint Communities Facilities Agreements with the City of Riverside, Alvord Unified School District, Century Communities and Meritage Homes.
RECOMMENDATIONS
11