A 5-0 Elsinore Valley Municipal Water District board vote, Feb. 25, approved the establishment of a community facilities district for the Strata Horizons development.
The board action authorized the creation of the CFD and bonded indebtedness, authorized a landowner election for the levy of special taxes and declared the results of the election. The bonded indebtedness amount is limited to $6,200,000, and the bonds are expected to be issued shortly before the homes are built.
The creation of a community facilities district allows bonds for infrastructure to be repaid through assessments on property. These assessments are sometimes known as mello-roos due to the state legislators who created the option for services on new development to be funded by an annual assessment. An assessment