City of Victorville
Resolution of Intention Meeting: CFD 2024- 01
(Municipal Services)
President/Managing
Director
Webb Municipal Finance, LLC
Heidi Schoeppe
Finance Manager
Webb Municipal Finance, LLC
Brent Howard
Introductions
Matt Chesney
Senior Finance Manager
Webb Municipal Finance, LLC
Tax Zone 1 (TTM 14525)
Agenda
CFD 2024-01 Overview
04 03
02 01
Q&A
Next Steps
CFD 2024-01 (Municipal Services)
• Citywide Annexable CFD to ensure new development adequately funds demands for services provided by the City
• Services include, but are not limited to:
• Maintenance Services
• Street maintenance
• Park maintenance
• Landscaping, lighting, signage
• Flood and storm protection
• Graffiti abatement
• Public Safety Services
• Police
• Fire protection
• Code enforcement
Public Safety Tax
(Special Tax A)
• Tax on developed property only
• Rates are calculated per each
land use category
• Rates escalate by greater of
annual increase in CPI or 5%
• FY 2025-26 rate:
• $525.35 per unit
Maintenance Tax
(Special Tax B)
• Tax on developed as well as
approved an undeveloped
property, if necessary
• Each new tax zone pays its own
rate
• Rates escalate by greater of
annual increase in CPI or 5%
CFD 2024-01 (Municipal Services)
Special Tax A
• Projected increase in public service
expenditures as a result of new
development only through build out.
• Fully burdened tax rate - $1,830.29
• Projected allocation of revenue
received from new development
• General fund revenues
• Measure P
• Code compliance cost recovery
• Net of applicable revenues, projected
total obligation is $11,685,217
• $525.35 per unit
Residential Non-Residential
Increase in Public Services Expenditures $44,781,639 $11,115,585 Full Burden CFD Tax Rate $1,830.29 per Unit $0.28 per BSF Allocation of Applicable Revenue ($33,096,422) ($9,591,656) Net Increase in Public Services Expenditures $11,685,217 $1,523,929 Administration/Reserve/
Contingency Expense @
10% of Balance to be
Funded
$1,168,522 $152,393
Total to be Funded $12,853,739 $1,676,322
Proposed CFD Tax Rate $525.35 per Unit $0.04 per BSF
Tax Zone 1 (TTM 14525)
• Located west of Stoddard
Wells Road and southeast
of I-15
• Planned for 312 residential
units constructed on
approximately 117 gross
acres
• Maintenance Special Tax to
pay for street maintenance,
landscaping, and graffiti
abatement
• Initial special tax rate of
$165.47 per residential unit
Special Tax B
Development Specific Services Unit Cost Total Per Unit Landscaping- Hardscape and Softscape $1.19 per SF $36,465 $116.88 Total Development Specific Services $36,465 $116.88
Network Services Unit Cost Total Per Unit
Graffiti Abatement $4.47 per LF $4,613 $14.78
Total Network Services $4,613 $14.78
Total Costs Total Per Unit
Development Specific Services $36,465 $116.88
Network Services $4,613 $14.78
Administration/Reserve/Contingency Expense @ 10%
of Balance to be Funded $10,549 $33.81
Total to be Funded $51,627 $165.47
• Pays only for services provided to
this specific development
• Landscaping – hardscape and
softscape
• Graffiti abatement
Next Steps for CFD Formation
Form the Community Facilities District
October 15th, 2024: Initial Council Meeting
• Resolution(s) of Intention
• Rate and Method of Apportionment & Annexation and Boundary Map November 19th, 2024: Second Council Meeting
• Public Hearing & Written protests
• Resolution of Formation
• CFD Election
• Ordinance to Levy Special Tax
December 3rd, 2024
• 2nd Ordinance Reading
Annexations