TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Ivan Holler, Assistant City Manager
PREPARED BY: Javier Carcamo, Finance Director
SUBJECT: Amended and Restated Community Facilities District Goals and
Policies
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RECOMMENDATION
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Adopt Resolution No. 23-4717 entitled: A Resolution of the City Council of the City of Murrieta, California, Adopting an Amended and Restated Community Facilities District Goals and Policies.
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PRIOR ACTION/VOTE
On January 21, 2003, the City Council adopted the Land Secured Financing Policy for Special Assessment and Mello-Roos Community Facilities District Financing (Vote: 5-0)1.
On April 5, 2016, the City Council adopted Resolution No. 16-3536, amending the Land Secured Financing Policy (Vote: 5-0)2.
On October 3, 2023, the City Council considered an Amendment to the Community Facilities District Goals and Policies and directed staff to present the recommendations in a workshop (Vote 3-2)3.
On December 5, 2023, City staff provided a Community Facilities District Workshop to present recommendations (Non-Action item).
CITY COUNCIL GOAL
Maintain a high performing organization that values fiscal sustainability, transparency, accountability and organizational efficiency.
BACKGROUND
The purpose of the Community Facilities District (CFD) Goals and Policies is to establish a set of guidelines for the formation, including the sale of CFD bonds to finance the acquisition or construction of public infrastructure required to support new development, the provision of authorized public services, and the subsequent administration of CFD's. The primary objective of a CFD is to ensure that new development fully funds the cost it generates for the City and funds improvements promptly to accommodate the expected growth. The City's goal is to support development projects that address a public need and benefit the City and its residents. Proposed development pro...
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