EVMWD creates Lakeside Estates, Echo Ridge CFDs

The Elsinore Valley Municipal Water District created two new community facilities districts.The March 24 EVMWD board meeting approved the formation of CFDs for the Lake Elsinore Lakeside Estates and Echo Ridge developments. Because a CFD is funded by a property tax assessment a second reading and adoption for the tax levies was required and those occurred April 10.A community facilities district allows bonds for infrastructure to be repaid through assessments on property (these are sometimes known as Mello-Roos taxes due to the state legislators who wrote the option for services on new development to be funded by an annual assessment). An assessment must be approved by a majority of property owners, although a developer who owns a project before it is subdivided can cast the sole v
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