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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

Saugus Union School District

Community Facilities District Overview

slide2

History of Community Facilities Districts

  • What is a Community Facilities District?
  • What can CFDs pay for?
  • CFD Administration Process
slide3

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
slide4

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
slide5

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.
slide10

Lyn Gruber

    • lyn@kgpf.net
    • Office 760.510.0290
    • Cell 951.704.4799
  • Scott Koppel
    • scott@kgpf.net
    • Office 760.510.0290
    • Cell 760.586.5377
  • Douglas Floyd
    • doug@kgpf.net
    • Office 760.510.0290