City of Sacramento
City Council - 2PM Report
915 I Street Sacramento, CA 95814
www.cityofsacramento.org
File ID: 2026-00538 2/24/2026
Fiscal Year (FY) 2024/25 Community Facilities District (CFD) Special Tax Administration Report
File ID: 2026-00538
Location: Citywide
Recommendation: Receive and file the Fiscal Year (FY) 2024/25 Community Facilities District (CFD) Special Tax Administration Report.
Contact: Claudia Lara, Debt Analyst, (916) 808-2267, [email protected]; Brian Wong, Debt Manager, (916) 808-5811, [email protected]; Office of the City Treasurer Presenter: None
Attachments:
1-Description/Analysis
2-FY2024/25 CFD Special Tax Administration Report
Description/Analysis
Issue Detail: The attached Fiscal Year (FY) 2024/25 Community Facilities District (CFD) Special Tax Administration Report (Annual Report) presents information regarding construction proceeds for all improvements-related CFDs. The Annual Report is required in accordance with California Government Code Section 50075.3 (SB 165 Reporting Requirements).
Policy Considerations: Filing the Annual Report will satisfy the SB 165 reporting requirement for special taxes levied and collected for FY 2024/25.
Economic Impacts: Not applicable.
Environmental Considerations:
California Environmental Quality Act (CEQA): Under CEQA Guidelines, the administration of CFDs does not constitute a project and is therefore exempt from review (14 Cal. Code Regs. § 15378 (b)(2)).
Sustainability: Not applicable.
File ID: 2026-00538 2/24/2026
Commission/Committee Action: None.
Rationale for Recommendation: SB 165 Reporting Requirements stipulate that at least once a year, a report is to be filed with the City Council setting forth the following information:
a. The amount of funds (special taxes) that have been collected and expended. b. The status of any project required or authorized to be funded by the special taxes.
This information is included in the attached Annual Report for all improvements-related CFDs administered by the City that levied a special tax in FY2024-25.
Financial Considerations: There are no financial impacts to any City funds.
Local Business Enterprise (LBE): Not applicable.
Fiscal Year 2024-25
CFD Special Tax Administration Report
January 30, 2026
Table of Contents
Senate Bill 165 Reporting Requirement .............................................................................................. 1 Special Tax Collected and Expended ................................................................................................... 2 Acquisition / Construction Funds ........................................................................................................ 3 Pay-As-You-Go Fund .......................................................................................................................... 4 College Square CFD No. 2005-01 ......................................................................................................... 5 Creamery CFD No. 2015-02 ................................................................................................................. 6 Curtis Park Village CFD No. 2014-02 .................................................................................................... 7 Delta Shores CFD No. 2019-01 (IA1) .................................................................................................... 8 Delta Shores CFD No. 2019-01 (IA2) .................................................................................................... 9 Greenbriar CFD No. 2018-03 (IA1) ..................................................................................................... 10 Greenbriar CFD No. 2018-03 (IA2) ..................................................................................................... 11 McKinley Village CFD No. 2015-04 .................................................................................................... 12 Natomas Central CFD No. 2006-02 .................................................................................................... 13 Natomas Meadows CFD No. 2007-01 (IA1) ........................................................................................ 14 Natomas Meadows CFD No. 2007-01 (IA2) ........................................................................................ 15 North Natomas Basin 8C CFD No. 99-04 ............................................................................................ 16 North Natomas CFD No. 4 ................................................................................................................ 17 North Natomas Drainage CFD 97-01 ................................................................................................. 19 North Natomas Regency Park CFD No. 2001-03 ................................................................................. 21 North Natomas Westlake CFD No. 2000-01 ....................................................................................... 22 Railyards CFD No. 2018-01................................................................................................................ 23 Senate Bill 165 Reporting Requirement
Senate Bill 165, filed with the Secretary of State on September 19, 2000, enacted the Local Agency Special Tax and Bond Accountability Act. This Act requires that any local special tax/local bond measure subject to voter approval contain a statement indicating the specific purposes of the special tax, requires that the proceeds of the special tax be applied to those purposes, requires the creation of an account into which the proceeds shall be deposited, and requires an annual report containing specified information concerning the use of the proceeds.
The Act applies to local bond measures adopted on or after January 1, 2001, in accordance with Section 50075.1 or Section 53410 of the California Government Code.
S
ome of the requirements of the Act are handled at the formation of the Special district, as that term is defined in Section 50075.5 of the California Government Code and others are handled through annual reports. This report complies with Section 50075.3 or Section 53411 of the California Government Code that states:
“
The chief fiscal officer of the issuing local agency shall file a report with its governing body no later than January 1, 2002, and at least once a year thereafter. The annual report shall contain all of the following:
(a
) The amount of funds collected and expended.
(b) The status of any project required or authorized to be funded as identified in subdivision (a) of Section 50075.1 or Section 53410.”
Fiscal Year 2024-25 CFD Special Tax Administration Report
Special Tax Collected and Expended in Fiscal Year 2024-25 District
Special Tax
Collected 1
Special Tax
Expended 2
College Square No. 2005-01 $974,122.79 $1,057,599.48
Creamery CFD No. 2015-02 $195,464.20 $173,043.56
Curtis Park CFD No. 2014-02 $709,487.42 $627,368.19
Delta Shores CFD No. 2019-01 (IA1)3 $0.00 $0.00
Delta Shores CFD No. 2019-01 (IA2) 4 $607,724.93 $422,490.38 Greenbriar CFD No. 2018-03 (IA1) 4 $2,180,406.89 $1,944,275.48 Greenbriar CFD No. 2018-03 (IA2)3 $0.00 $0.00
McKinley Village CFD No. 2015-044 $520,824.61 $475,335.62 Natomas Central CFD No. 2006-02 $1,098,541.72 $976,879.42 Natomas Meadows CFD No. 2007-01 (IA1) $743,045.96 $656,675.22 Natomas Meadows CFD No. 2007-01 (IA2) $409,510.26 $356,233.30 North Natomas Basin 8C CFD No. 99-04 $248,989.93 $301,875.03 North Natomas CFD No. 4 $5,558,631.67 $5,467,442.72
North Natomas Drainage CFD No. 97-01 $2,451,693.60 $2,359,696.57 North Natomas Regency Park CFD No. 2001-03 $1,475,991.93 $1,734,808.43 North Natomas Westlake CFD No. 2000-015 $739,540.23 $1,074,011.70 Railyards CFD No. 2018-014 $1,741,714.79 $446,018.15
1 Includes certain special tax collections that were levied in fiscal year 2023-24 but received in fiscal year 2024-25 (i.e. August true-up and Teeter payments received from the County of Sacramento). 2 Includes debt service and administrative costs. May also include reserve fund excess/replenishment and bond calls.
3 Bonds issued in Fiscal Year 2024-25; debt service due on March 1, 2025 was paid from capitalized interest held at the trustee.
4 Subject to Pay-As-You-Go
5 Westlake CFD Bonds matured on September 1, 2025. No special tax was levied for Westlake CFD in Fiscal Year 2025-26, so this CFD may not be reported in the Fiscal Year 2025-26 CFD Special Tax Administration Report.
Fiscal Year 2024-25 CFD Special Tax Administration Report
Acquisition / Construction Funds
District
Date of
Pricing
Date of
Issuance Initial Deposit
Balance as of
6/30/2025
Expended
Amount
Project
Status
College Square No. 2005-01 10/17/2007 10/25/2007 $9,737,642.75 $0.00 $9,737,642.75 Completed Creamery CFD No. 2015-02 9/28/2017 10/11/2017 $2,933,247.00 $0.00 $2,933,247.00 Completed Curtis Park CFD No. 2014-02 8/6/2019 8/22/2019 $12,761,215.54 $0.00 $12,761,215.54 Completed Delta Shores CFD No. 2019-01 (IA1) 12/4/2024 12/19/2024 $12,117,220.30 $0.00 $12,117,220.30 Completed Delta Shores CFD No. 2019-01 (IA2)
Escrow 6/14/2022 6/21/2022 $4,444,658.31 $0.00 $4,444,658.31 Completed Non-Escrow $3,004,995.94 $0.00 $3,004,995.94 Completed
Greenbriar CFD No. 2018-03 (IA1) 2/17/2021 2/26/2021 $42,261,805.88 $143,180.00 $42,118,625.88 Ongoing Greenbriar CFD No. 2018-03 (IA2) 12/10/2024 12/19/2024 $30,812,353.86 $0.00 $30,812,353.86 Completed McKinley Village CFD No. 2015-04
Series 2016 6/8/2016 6/16/2016 $5,550,814.55 $0.00 $5,550,814.55 Completed Series 2020 6/17/2020 7/1/2020 $3,691,058.02 $0.00 $3,691,058.02 Completed Natomas Central CFD No. 2006-02 10/18/2016 10/27/2016 $19,448,067.60 $0.00 $19,448,067.60 Completed Natomas Meadows CFD No. 2007-01 (IA1) 7/13/2017 7/20/2017 $11,337,588.94 $0.00 $11,337,588.94 Completed Natomas Meadows CFD No. 2007-01 (IA2) 5/16/2019 5/29/2019 $6,643,911.45 $0.00 $6,643,911.45 Completed North Natomas Basin 8C CFD No. 99-04
Series A 8/24/1999 9/9/1999 $2,119,460.00 $0.00 $2,119,460.00 Completed Series B 8/26/2004 9/15/2004 $3,262,611.05 $0.00 $3,262,611.05 Completed North Natomas CFD No. 4
Series A (1999) 2/12/1999 2/24/1999 $12,667,300.00 $0.00 $23,686,528.72 Completed Series B (2001) 4/5/2001 4/19/2001 $11,019,228.72 Series C (2003) 10/15/2003 10/28/2003 $26,422,687.92 $0.00 $26,422,687.92 Completed Series D (2006) 11/22/2006 12/7/2006 $22,302,828.62 $0.00 $22,302,828.62 Completed North Natomas Drainage CFD No. 97-011
Series A 9/18/1997 10/2/1997 $16,491,478.38 $353,889.05 $20,649,377.83 Ongoing Series B 5/31/2000 6/14/2000 $4,511,788.50 Series C 3/25/2003 3/27/2003 $5,976,000.00 $84,545.76 $5,891,454.24 Ongoing Series 2005 5/27/2005 6/8/2005 $3,071,927.64 $546,768.21 $2,525,159.43 Ongoing North Natomas Regency Park CFD No. 2001-03 7/16/2003 7/24/2003 $16,920,000.00 $0.00 $16,920,000.00 Completed North Natomas Westlake CFD No. 2000-011 4/11/2001 4/26/2001 $9,905,802.84 $383,017.05 $9,516,773.27 Ongoing Railyards CFD No. 2018-01 9/14/2022 9/27/2022 $22,968,270.23 $0.00 $22,968,270.23 Ongoing 1 The “Balance” includes Pool A interest earnings; the “Expended Amount” is understated because the actual amount expended, inclusive of interest earnings, is greater than the listed amount.
Fiscal Year 2024-25 CFD Special Tax Administration Report
Pay-As-You-Go Fund
District
6/30/2024
Balance1
Pay-Go Levied
2024-25
6/30/2025
Balance1
Expended
Amount
Project
Status
Delta Shores CFD No. 2019-01 (IA2) $301,749.89 $80,441.14 $390,333.68 $0.00 Ongoing Greenbriar CFD No. 2018-03 (IA1) $0.00 $641,274.79 $641,274.78 $0.00 Ongoing McKinley Village CFD No. 2015-04 $40,629.69 $41,265.54 $41,626.80 $40,268.43 Ongoing North Natomas Drainage CFD No. 97-01,
Series 2005 $314,512.56 $0.00 $322,999.61 $0.00 Ongoing Railyards CFD No. 2018-01 $0.00 $307,969.33 $307,969.33 $0.00 Ongoing 1 Includes Pool A interest earnings.
Fiscal Year 2024-25 CFD Special Tax Administration Report
College Square CFD No. 2005-01
The City of Sacramento formed College Square Community Facilities District No. 2005-01 (the “CFD”) and issued its $11,465,000 City of Sacramento College Square Community Facilities District No. 2005-01 2007 Special Tax Bonds (the “Bonds”) to finance the acquisition and construction of certain public improvements to help mitigate the impacts on public infrastructure systems of the development expected to take place within the CFD.
Improvements funded by the Bonds include roads, water distribution lines, drainage facilities, storm water treatment facilities, sewer lines, public dry utilities, all together with necessary appurtenances.
The Bonds are currently scheduled to mature with the final debt service payment on September 1, 2037.
Fiscal Year 2024-25 CFD Special Tax Administration Report
Creamery CFD No. 2015-02
The City of Sacramento (the “City”) originally formed Creamery Community Facilities District No. 2015- 02 (the “CFD”) and issued its $3,570,000 City of Sacramento Creamery Community Facilities District No. 2015-02 (Improvements) Special Tax Bonds, Series 2017 (the “Bonds”) to finance the costs of the acquisition and construction of certain facilities within the CFD, and to finance authorized governmental fees. These fees paid for the costs of facilities including water and storm drain improvements, roadways and traffic improvements, and landscaping and park improvements.
T
he Bonds are currently scheduled to mature with the final debt service payment on September 1, 2047.
Fiscal Year 2024-25 CFD Special Tax Administration Report
Curtis Park Village CFD No. 2014-02
The City of Sacramento originally formed Curtis Park Village Community Facilities District No. 2014-02 (the “CFD”) and issued its $12,245,000 Curtis Park Village Community Facilities District No. 2014-02 (Improvements) Special Tax Bonds, Series 2019 (the “Bonds”) to fund the acquisition and construction of certain public infrastructure improvements and facilities including but not limited to roadway improvements, a pump station, masonry sound walls, grading, drainage, water and sewer improvements, and fees related to infrastructure improvements authorized under the CFD Acquisition and Shortfall Agreement.
The Bonds are currently scheduled to mature with the final debt service payment on September 1, 2049.
Fiscal Year 2024-25 CFD Special Tax Administration Report
Delta Shores CFD No. 2019-01 (IA1)
The City of Sacramento formed the Delta Shores Community Facilities District No. 2019-01 (the “CFD”) and issued its $14,480,000 Delta Shores Community Facilities District No. 2019-01 (Improvement Area No. 1) Special Tax Bonds, Series 2024 (the “Bonds”), to finance the acquisition and construction of certain facilities including water and storm drain improvements, roadways and traffic improvements, landscaping and park improvements, in addition to other improvements authorized under the CFD Acquisition and Shortfall Agreement.
T
he Bonds are currently scheduled to mature with the final debt service payment on September 1, 2054.
Fiscal Year 2024-25 CFD Special Tax Administration Report
Delta Shores CFD No. 2019-01 (IA2)
The City of Sacramento formed the Delta Shores Community Facilities District No. 2019-01 (the “CFD”) and issued its $10,230,000 Delta Shores Community Facilities District No. 2019-01 (Improvement Area No. 2) Special Tax Bonds, Series 2022 (the “Bonds”), to finance the acquisition and construction of certain facilities including water and storm drain improvements, roadways and traffic improvements, landscaping and park improvements, in addition to other improvements authorized under the CFD Acquisition and Shortfall Agreement.
T
he Bonds were uniquely structured with non-escrow and escrow components. On May 29, 2024, the City signed the Escrow Fund Release Certificate certifying that the developer met the required milestones and the City remitted the signed certificate to the trustee of the Bonds.
T
he Bonds are currently scheduled to mature with the final debt service payment on September 1, 2052.
Fiscal Year 2024-25 CFD Special Tax Administration Report
Greenbriar CFD No. 2018-03 (IA1)
The City of Sacramento formed the Greenbriar Community Facilities District No. 2018-03 (the “CFD”) and issued its $43,470,000 Greenbriar Community Facilities District No. 2018-03 (Improvement Area No. 1) Special Tax Bonds, Series 2021 (the “Bonds”), to finance the acquisition and construction of certain facilities and to finance governmental facilities fees including water, sewer and storm drain improvements, roadways and traffic improvements, landscaping and park improvements, and school facilities, in addition to other improvements authorized under the CFD Acquisition and Shortfall Agreement.
T
he Bonds are currently scheduled to mature with the final debt service payment on September 1, 2050.
Fiscal Year 2024-25 CFD Special Tax Administration Report
Greenbriar CFD No. 2018-03 (IA1)
The City of Sacramento formed the Greenbriar Community Facilities District No. 2018-03 (the “CFD”) and issued its $36,950,000 Greenbriar Community Facilities District No. 2018-03 (Improvement Area No. 2) Special Tax Bonds, Series 2024 (the “Bonds”), to finance the acquisition and construction of certain facilities and to finance governmental facilities fees including water, sewer and storm drain improvements, roadways and traffic improvements, landscaping and park improvements, and school facilities, in addition to other improvements authorized under the CFD Acquisition and Shortfall Agreement.
T
he Bonds are currently scheduled to mature with the final debt service payment on September 1, 2054.
Fiscal Year 2024-25 CFD Special Tax Administration Report
Fiscal Year 2024-25 CFD Special Tax Administration Report
McKinley Village CFD No. 2015-04
The City of Sacramento originally formed the McKinley Village Community Facilities District No. 2015-04 (the “CFD”) and issued its $6,610,000 McKinley Village Community Facilities District No. 2015-04 (Improvements) Special Tax Bonds, Series 2016 (the “Prior Bonds”) to finance the acquisition and construction of public infrastructure and the payment of development-impact fees used to acquire and construct infrastructure associated with the McKinley Village residential development. The Prior Bonds were sold as a private placement in June 2016.
The Prior Bonds were refunded in July 2020 by the $8,540,000 City of Sacramento McKinley Village Community Facilities District No. 2015-04 (Improvements) Special Tax Bonds Series 2020 (the “Bonds”).
The Bonds included $3,385,000 of new money bonds to acquire additional authorized public improvements in accordance with the CFD Acquisition and Shortfall Agreement.
The Acquisition and Shortfall Agreement allows the developer to be reimbursed for up to $10 million between bond proceeds and pay-go funds. No additional new-money bonds will be issued for this CFD; however, pay-go may run until FY 2035-36.
The Bonds are currently scheduled to mature with the final debt service payment on September 1, 2046.
Fiscal Year 2024-25 CFD Special Tax Administration Report
Natomas Central CFD No. 2006-02
The City of Sacramento originally formed the Natomas Central Community Facilities District No. 2006-02 (the “CFD”) and issued its $20,030,000 Natomas Central Community Facilities District No. 2006-02 Special Tax Bonds, Series 2016 (the “Bonds”) to finance the acquisition and construction of certain facilities and to finance governmental fees including water and storm drain improvements, detention basins, roadways and traffic improvements, landscaping and open space improvements, in addition to other improvements authorized under the CFD Acquisition and Shortfall Agreement.
T
he Bonds are currently scheduled to mature with the final debt service payment on September 1, 2046.
Fiscal Year 2024-25 CFD Special Tax Administration Report
Natomas Meadows CFD No. 2007-01 (IA1)
The City of Sacramento originally formed the Natomas Meadows Community Facilities District No. 2007- 01 (the “CFD”) and issued its $12,295,000 Natomas Meadows Community Facilities District No. 2007-01 (Improvement Area No. 1) Special Tax Bonds, Series 2017 (the “Bonds”), to finance the acquisition and construction of certain facilities and to finance governmental fees including water and storm drain improvements, roadways and traffic improvements, landscaping and park improvements, in addition to other improvements authorized under the CFD Acquisition and Shortfall Agreement.
T
he Bonds are currently scheduled to mature with the final debt service payment on September 1, 2047.
Fiscal Year 2024-25 CFD Special Tax Administration Report
Natomas Meadows CFD No. 2007-01 (IA2)
The City of Sacramento formed the Natomas Meadows Community Facilities District No. 2007-01 (the “CFD”) and issued its $6,855,000 Natomas Meadows Community Facilities District No. 2007-01 (Improvement Area No. 2) Special Tax Bonds, Series 2019 (the “Bonds”), to finance the acquisition and construction of certain facilities and to finance governmental fees including water and storm drain improvements, roadways and traffic improvements, landscaping and park improvements, in addition to other improvements authorized under the CFD Acquisition and Shortfall Agreement.
T
he Bonds are currently scheduled to mature with the final debt service payment on September 1, 2049.
Fiscal Year 2024-25 CFD Special Tax Administration Report
North Natomas Basin 8C CFD No. 99-04
The City of Sacramento originally formed North Natomas Basin 8C Community Facilities District No. 99- 04 (the “CFD”) and issued its $2,805,000 North Natomas Basin 8C CFD No. 99-04 City of Sacramento, County of Sacramento, State of California Special Tax Bonds, Series A (1999) and $3,790,000 North Natomas Basin 8C CFD No. 99-04 City of Sacramento, County of Sacramento, State of California Special Tax Bonds, Series B (2004) (collectively the “Prior Bonds”) to fund the acquisition and construction of certain storm water conveyance facilities within the CFD and the payment of certain costs incidental to or connected with such acquisition and construction.
Th
e Prior Bonds were fully refunded in January 2016 by the $3,045,000 City of Sacramento North Natomas Basin 8C CFD No. 99-04 Special Tax Refunding Bonds, Series C (2016) (the “Bonds”). The Bonds were issued as a private placement.
T
he Bonds are currently scheduled to mature with the final debt service payment on September 1, 2034.
Fiscal Year 2024-25 CFD Special Tax Administration Report
North Natomas CFD No. 4
The City of Sacramento formed North Natomas Community Facilities District No. 4 (the “CFD”) and issued its CFD Bonds, Series A through D, to provide funds to pay for the acquisition and construction of certain public improvements to serve property located within the CFD. Improvements included necessary drainage facilities for Basins 1, 2 and 4.
In
February 1999, the City issued its North Natomas Community Facilities District No. 4 City of Sacramento, County of Sacramento, State of California Special Tax Bonds (the “Bonds”), Series A in the amount of $16,215,000 to fund the following projects and costs: (1) interim detention basin, trunk drainage, additional authorized facilities, habitat conservation plan (HCP) fees, and related costs in Tax Zone IA and (2) common drainage facilities, pump station, trunk drainage, water quality basin landscaping, land acquisition, additional authorized facilities, HCP fees, and related costs in Tax Zone IV.
In
April 2001, the City issued $12,750,000 Series B Bonds to fund the following projects and costs: (1) detention basin, trunk drainage, pump station, land acquisition, channel project, and related costs in Tax Zone IA and (2) detention basin, pump station, trunk drainage, other authorized facilities, and related costs in Tax Zone IV.
In
October 2003, the City issued $29,765,000 Series C Bonds to fund the following projects and costs: (1) detention basin, drainage channel, pump station, trunk drainage, land acquisition, secondary facilities, and related fees and costs in Tax Zones IA and IB, (2) detention basin, pump station, trunk drainage, land acquisition, secondary facilities, and related costs in Tax Zone II, and (3) detention basin, pump station, trunk drainage, land acquisition, secondary facilities, and related costs in Tax Zone IV.
In
December 2006, the City issued $26,210,000 Series D Bonds (the final series of new-money Bonds) to fund the following projects and costs: (1) detention basin, drainage channel, pump station, trunk drainage, land acquisition, secondary facilities, and related costs in Tax Zones IA and IB, (2) detention basin, pump station, trunk drainage, land acquisition, secondary facilities, and related costs in Tax Zone II, and (3) detention basin, pump station, trunk drainage, land acquisition, secondary facilities, and related costs in Tax Zone IV.
In Ju
ly 2013, the Series A, B and C Bonds were fully refunded with the issuance of the $46,075,000 North Natomas Community Facilities District No. 4 Special Tax Refunding Bonds, Series E (2013) (“Series E”).
In Ju
ly 2015, the Series D Bonds was fully refunded with the issuance of the $21,110,000 North Natomas Community Facilities District No. 4 Special Tax Refunding Bonds, Series F (2015) (the “Series F (2015)”).
In Se
ptember 2023, the Series E Bonds was fully refunded with the issuance of the $25,125,000 North Natomas Community Facilities District No. 4 Special Tax Refunding Bonds, Series G (2023) (the “Series G (2023)”).
T
he Bonds are currently scheduled to mature with the final debt service payments for Series F (2015) on September 1, 2033, and Series G (2023) on September 1, 2032.
Fiscal Year 2024-25 CFD Special Tax Administration Report
North Natomas CFD No. 4
Fiscal Year 2024-25 CFD Special Tax Administration Report
North Natomas Drainage CFD No. 97-01
The City of Sacramento (the “City”) originally formed North Natomas Drainage Community Facilities District No. 97-01 (the “CFD”) to fund storm drainage improvements that would replace the internal 100-year flood plain designation and provide capacity in the Reclamation District 1000 canal system for the additional runoff caused by new development in the CFD.
I
n October 1997, the City issued its $20,175,000 City of Sacramento North Natomas Drainage Community Facilities District No. 97-01 Special Tax Bonds (the “Bonds”), Series A to fund the acquisition and construction of certain storm water drainage improvements including: levees, channel improvements, pumping plants, and all together with necessary appurtenances.
I
n June 2000, the City issued its $5,400,000 Series B Bonds to fund the acquisition and construction of storm water drainage improvements within the CFD designed to remove the internal 100-year floodplain and provide capacity in the Reclamation District 1000 canal system for the additional runoff caused by new development in the CFD.
I
n March 2003, the City issued its $6,040,000 Series C Bonds to fund the third phase of improvements of the comprehensive drainage system in the CFD. The Series C Bonds were sold as a private placement.
In
June 2005, the Series A, B and C Bonds were fully refunded with the City’s issuance of the $35,460,000 Series 2005 Bonds. The Series 2005 Bonds also included a new-money component of about $3,070,000 in project proceeds to fund certain drainage facilities in the CFD.
In
June 2015, the Series 2005 Bonds were fully refunded with the City’s issuance of $24,325,000 North Natomas Drainage Community Facilities District No. 97-01 Special Tax Refunding Bonds, Series 2015 (the “Series 2015 Bonds”).
T
he Series 2015 Bonds are currently scheduled to mature with the final debt service payment on September 1, 2034.
Fiscal Year 2024-25 CFD Special Tax Administration Report
North Natomas Drainage CFD No. 97-01
Fiscal Year 2024-25 CFD Special Tax Administration Report
North Natomas Regency Park CFD No. 2001-03
The City of Sacramento formed North Natomas Regency Park Community Facilities District No. 2001-03 (the “Regency Park CFD”) to pay for Primary Facilities (and Secondary Facilities if deemed eligible for funding) as those terms are defined in the list of eligible facilities for the Regency Park CFD, including without limitation, drainage facilities; including detention basins, pump stations, pipelines and channels (together with related bridges, culverts and headwalls) and roads; sanitary sewer trunk and interceptor lines; park landscaping; landscaping and sound walls in landscape corridors; and public dry utilities and habitat conservation fees.
A
long with the North Natomas Westlake CFD, the Regency Park CFD was refunded in January 2013 with the issuance of the $23,525,000 Sacramento City Financing Authority 2013 Special Tax Refunding Revenue Bonds (Westlake and Regency Park), Series A (the “Bonds”).
T
he Regency Park CFD Bonds are currently scheduled to mature with the final debt service payment on September 1, 2028.
Fiscal Year 2024-25 CFD Special Tax Administration Report
North Natomas Westlake CFD No. 2000-01
The City of Sacramento originally formed North Natomas Westlake Community Facilities District No. 2000-01 (the “Westlake CFD”) to pay for Primary Facilities (and Secondary Facilities if deemed eligible for funding) as those terms ae defined in the list of eligible facilities for the Westlake CFD, including without limitation, a storm water detention basin, trunk drainage canals for the conveyance of storm water and (through funding of public facilities fees and City-wide park fees) improvements to Del Paso Road and the construction of Westlake Community Park.
A
long with the North Natomas Regency Park CFD, the Westlake CFD was refunded in January 2013 with the issuance of the $23,525,000 Sacramento City Financing Authority 2013 Special Tax Refunding Revenue Bonds (Westlake and Regency Park) Series A (the “Bonds”).
W
estlake CFD Bonds have matured with the final debt service payment on September 1, 2025.
Fiscal Year 2024-25 CFD Special Tax Administration Report
Railyards CFD No. 2018-01
The City of Sacramento formed the Railyards Community Facilities District No. 2018-01 (the “CFD”) and issued its $30,000,000 Railyards Community Facilities District No. 2018-01 Special Tax Bonds, Series 2022 (the “Bonds”), to finance the acquisition and construction of certain facilities, including water, sewer and storm drain improvements, roadways and traffic improvements, and landscaping and park improvements, in addition to other improvements authorized under the CFD Acquisition and Shortfall Agreement.
T
he Bonds are currently scheduled to mature with the final debt service payment on September 1, 2052.
T
he CFD has an expenditure limit of $70,000,000 between CFD bond proceeds and CFD special tax revenues. There is the likelihood that one or more additional series of CFD bonds may be issued before the CFD special tax sunsets in Fiscal Year 2063-64.
Fiscal Year 2024-25 CFD Special Tax Administration Report