Community facilities district overview
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Saugus Union School District. Community Facilities District Overview. History of Community Facilities Districts What is a Community Facilities District? What can CFDs pay for? CFD Administration Process. Prior to Prop 13, School Districts could levy what they needed

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Community Facilities District Overview

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Community facilities district overview

Saugus Union School District

Community Facilities District Overview


Community facilities district overview

  • History of Community Facilities Districts

  • What is a Community Facilities District?

  • What can CFDs pay for?

  • CFD Administration Process


Community facilities district overview

  • Prior to Prop 13, School Districts could levy what they needed

  • Prop 13 froze all taxes to 1% of AV – Schools had no way to fund facilities

  • Mello-Roos Community Facilities Act of 1982 was passed to provide an alternate method of financing needed improvements and services

  • The Act allows any public agency to form a Community Facilities District ("CFD") to pay for improvements and services


Community facilities district overview

  • A specific geographic area that levies a Special Tax

  • Mitigate impact of new development at higher rates than current school fees

  • Should be self sufficient – Administrative expenses paid by taxpayers, not general fund

  • May issue debt supported by Special Taxes

  • Can generate pay as you go funding

  • Adds a layer of complexity to existing finances


Community facilities district overview

  • Real or Tangible Property with a Useful life of 5 years or longer

    • School buildings

    • Administration buildings

    • Furniture and fixtures

    • School buses (views differ on whether they are fundable)

  • (New in Jan 2014) Maintenance of Real or Tangible Property with a Useful life of 5 years or longer

    • If, they are in addition to and do not supplant existing services.


Cfd flow of funds

CFD Flow of Funds


Community facilities district overview

  • Lyn Gruber

    • [email protected]

    • Office 760.510.0290

    • Cell 951.704.4799

  • Scott Koppel

    • [email protected]

    • Office 760.510.0290

    • Cell 760.586.5377

  • Douglas Floyd

    • [email protected]

    • Office 760.510.0290


Questions

Questions?


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