EVMWD approves CFD for Strata Horizons development

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
Subscribe or log in to read the rest of this content.