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These districts sell bonds to finance a variety of public improvements, which primarily include the construction of streets, drainage, water & sewer facilities, streetlights and the acquisition of the land necessary to construct these improvements. Bonds are sold and property owners re-pay through annual assessments over time.
Latest bonded district informantion
The College Square CFD was formed in 2005 in order to finance roadways, traffic signals, water mains, storm drainage facilities and governmental fees. The developer plans to construct a multi-family residential and office/commercial development.
The CFD includes approximately 52 acres. At build-out, there will be approximately 720 multi-family residential units and 270,000 square feet of office/commercial. The developer plans to construct the project in multiple phases.
Development in the CFD remains ongoing.
A bond sale took place in October 2007 in the amount of $11.465 million.
This district is administered by the City Treasurer’s Office’s Special Tax Administrator Harris & Associates at (866) 427-4304 and taxbillquestions@weareharris.com.
The Creamery CFD was formed in April of 2015 in order to finance sidewalk and roadway improvements, water and sewer and storm drainage facilities, and governmental fees. The CFD includes approximately 8.3 acres located in the central city. At build-out, there will be approximately 117 single-family residential units.
A bond sale took place in October 2017 in the amount of $3.57 million.
This district is administered by the City Treasurer’s Office’s Special Tax Administrator Harris & Associates at (866) 427-4304 and taxbillquestions@weareharris.com.
The Curtis Park Village CFD was formed in June of 2014 to finance roadway improvements, water and sewer and storm drainage facilities, and governmental fees. The CFD consists of approximately 54 gross developable acres encompassing 273 single-family homes in the Curtis Park Village project, 2.2 acres and 91 units dedicated to affordable senior housing, and 2.5 acres in a flex zone with up to 245 multi-family units. The affordable senior housing and multi-family units will be exempt from payment of the CFD special tax. The boundaries of the CFD also include a 6.2 acre open area to include a park and detention basin.
The Developer proposes to construct the financed improvements in two phases with one bond sale being proposed.
A bond sale took place in August 2019 in the amount of $12.245 million.
This district is administered by the City Treasurer’s Office’s Special Tax Administrator Harris & Associates at (866) 427-4304 and taxbillquestions@weareharris.com.
The Delta Shores CFD was formed in September 2019 to finance roadway, sewer, storm drainage, and water improvements, as well as open space and detention basins. The CFD is comprised of three distinct improvement areas. Improvement Area No. 2 (IA2) consists of approximately 145.88 gross acres of which 90.76 acres is planned for development with 1,573 residential and multi-family lots/units. The remaining 55.12 acres consists of roads, two park sites and a school site.
Development in IA2 remains ongoing.
An issuance of IA2 bonds occurred in June 2022 in the amount of $10.23 million.
IA2 of this CFD is administered by the City's Infrastructure Finance Division at (916) 808-1440 and PIF@cityofsacramento.org.
This district was formed by City Council and approved by a special election of the property owners on April 6, 1995. This district, at formation, included five parcels of commercial/industrial property representing a total land area of 54 acres. Future development projects may join the program by submitting an application form and formally annexing to the CFD. So far there have been 3 annexations to the district.
The City Council recognized the need to stimulate economic development within the City of Sacramento. As a result, the City Council has adopted and established the Development Fee Financing (DFF) Program for commercial and industrial projects on December 6, 1994.
To participate in the DFF program, a development property must be formally annexed to this CFD. At the time of building permit issuance the landowner prepays the fees or (in the case of City fees) provides a letter of credit to the City as security. The City then issues Mello-Roos bonds. The bond proceeds are used to pay the fees or to reimburse landowners who have prepaid. The bond debt is repaid by the landowner over a period of time not to exceed 10 years from the date of bond issuance.
Series A and B bonds were issued in December 1995 in the amount of $2.5 million and $4.045 million, respectively.
Refunding Series B bonds were issued in January 2005 in the amount of $1.055 million to fully refund the Series B Bonds.
Series C bonds were issued in January 2005 in the amount of $5.3 million. Only the Series C bonds remain outstanding.
This district is administered by the City Treasurer’s Office’s Special Tax Administrator Harris & Associates at (866) 427-4304 and taxbillquestions@weareharris.com.
This CFD was formed in 2018 in order to finance certain roadway, sewer, water, drainage, landscape backbone, and parks-related improvements, as well as to finance certain development-related fees.
Improvement Area 1 of this CFD encompasses approximately 273.4 acres, of which 200.9 acres are expected to be developed into approximately 1,137 residential lots. Approximately 72.5 acres are intended for non-revenue generating parcels – namely, open space, senior affordable housing, parks, man-made lakes, and utilities easements.
Development in the CFD remains ongoing.
An issuance of bonds occurred in February 2021 in the amount of $43.47 million.
Improvement Area 1 of this CFD is administered by the City Treasurer’s Office’s Special Tax Administrator Harris & Associates at (866) 427-4304 and taxbillquestions@weareharris.com.
The McKinley Village CFD was formed in July of 2015 to finance roadway improvements, water and sewer and storm drainage facilities, and governmental fees. The CFD consists of approximately 27 gross developable acres. As approved by the City Council on April 29, 2014, the Project will result in a 336-unit residential subdivision with a 4,200-square-foot recreation center and multiple neighborhood parks. The Project comprises several types of housing, including single family-detached units, condominiums, and optional second units. Construction of the financed improvements is estimated to be completed by 2016.
A bond sale and private placement took place in June 2015.
In 2019, the developer of this CFD opted to partially prepay the special taxes of 32 residential lots. One of the effects of the partial prepayment meant splitting certain parcels, and thereby increasing the overall parcel count within the CFD from 336 residential lots to 352 residential lots.
In July 2020, a concurrent public issuance of refunding and new-money bonds occurred in the amount of $8.54 million. Proceeds of the 2020 issuance refunded in full the 2015 bonds and also provided about $3.7 million in new-money proceeds to reimburse the developer for verified capital improvement costs.
This district is administered by the City Treasurer’s Office’s Special Tax Administrator Harris & Associates at (866) 427-4304 and taxbillquestions@weareharris.com.
Formation proceedings for the CFD were started in October 2006.The project consists of approximately 2,400 residential units on 400 acres. In addition to single-family properties, there will also be medium density and condominium properties.
The CFD will fund, in part, traffic signals, roadways, flood control detention basins and other eligible public infrastructure and governmental fees. The bond maximum bond authorization is $35 million.
Due to unforeseen issues – namely the de facto building moratorium imposed by FEMA and the Army Corp of Engineers in December 2008, the City agreed to allow the developer of this CFD to obtain proceeds generated from the levy of special taxes – pay-go, ahead of an issuance of bonds.
In October 2016, a bond sale took place in the amount of $20.03 million. Between the cumulative amount of pay-go funds and the amount of CFD bonds issued, the $35 million CFD expenditure limit has been reached.
This district is administered by the City Treasurer’s Office’s Special Tax Administrator Harris & Associates at (866) 427-4304 and taxbillquestions@weareharris.com.
This CFD was formed in 2007 to finance street, storm drainage, water, and parks-related improvements, as well as to finance certain development-related fees.
At buildout, Improvement Area 1 of this CFD is expected to be developed into 377 detached single-family residential lots and 120 attached townhome units.
An issuance of bonds occurred in July 2017 in the amount of $12.295 million.
Improvement Area 1 of this CFD is administered by the City's Infrastructure Finance Division at (916) 808-1440 and PIF@cityofsacramento.org.
This CFD was formed in 2007 to finance street, storm drainage, water, and parks-related improvements, as well as to finance certain development-related fees.
At buildout, Improvement Area 2 of this CFD is expected to be developed into 260 detached single-family residential lots.
An issuance of bonds occurred in May 2019 in the amount of $6.855 million.
Development in Improvement Area 2 remains ongoing.
Improvement Area 2 of this CFD is administered by the City Treasurer’s Office’s Special Tax Administrator Harris & Associates at (866) 427-4304 and taxbillquestions@weareharris.com.
This district was established to provide financing for the construction and acquisition of storm drainage and flood control facilities in drainage basin 8C. The land uses in the districts are a mix of residential and non-residential on approximately 262 gross developable acres.
Facilities constructed and acquired include a storm drainage detention basin, drainage channel improvements, major trunk drainage pipes, as well as the cost of the land acquisition for these facilities.
Series A bonds were issued in September 1999 in the amount of $2.81 million, while the Series B bonds were issued in September 2004 in the amount of $3.79 million.
Series C bonds were issued via private placement in January 2016 in the amount of $3.045 million. The Series C Bonds fully refunded the then outstanding Series A & B Bonds.
This district is administered by the City Treasurer’s Office’s Special Tax Administrator Harris & Associates at (866) 427-4304 and taxbillquestions@weareharris.com.
The North Natomas Comprehensive Drainage Plan was initiated to construct and upgrade drainage facilities to mitigate runoff due to development. The facilities are owned and operated by Reclamation District 1000 and include levee improvements, upgrades to existing pumping plants to increase capacity and the construction of a new pumping plant on the Sacramento River.
The construction of new facilities and upgrades to existing facilities has been completed.
There have been multiple issuances bonds for this CFD. Only the Series 2015 bonds remain outstanding.
This district is administered by the City's Infrastructure Finance Division at (916) 808-1440 and PIF@cityofsacramento.org.
The district was formed in 1999 to provide funding for the construction and acquisition of storm drainage and flood control facilities. The facilities include levee improvements, channel construction and improvements, detention basins and storm drain pumping plants. The purchase of land to provide for required habitat mitigation is also included.
The land uses in CFD No. 4 include a mix of residential, retail, and office as well as a regional park, schools, and other civic facilities. The district covers approximately 1,860 acres.
Additionally, if funds remain after the construction and acquisition of the drainage facilities, other facilities such as frontage improvements, street lighting, and parks may also be funded.
There have been multiple issuances of bonds for this CFD. Only the Series F and G refunding bonds remain outstanding.
This district is administered by the City's Infrastructure Finance Division at (916) 808-1440 and PIF@cityofsacramento.org.
This CFD encompasses approximately 465 acres and includes a land use mix of residential and limited commercial. The district will fund the construction and acquisition of a drainage detention basin, storm drainage pump station, one bridge canal crossing. The funding also includes the cost for land acquisition.
If bond proceeds are available after the construction of the major drainage facilities, other facilities including roadways, water transmission mains, sewer lines, and various landscaping improvements may be funded.
The original Regency Park CFD bonds were issued in July 2003 in the amount of $19.57 million. Those bonds, along with the original Westlake CFD Bonds were fully refunded by the issuance of the 2013 Special Tax Bonds in January 2013 in the aggregate amount of $23.525 million.
This district is administered by the City's Infrastructure Finance Division at (916) 808-1440 and PIF@cityofsacramento.org.
This district covers approximately 331 gross acres and includes a mix of single family residential, high density apartments, commercial, and limited light industrial.
This district will provide financing for the construction and acquisition of storm drainage and flood control facilities in drainage basin 8A. Facilities constructed and acquired include a storm drainage detention basin, drainage channel improvements, major trunk drainage pipes, as well as the cost of the land acquisition for these facilities.
The original Westlake CFD bonds were issued in April 2001 in the amount of $11.89 million. Those bonds, along with the original Regency Park CFD Bonds were fully refunded by the issuance of the 2013 Special Tax Bonds in January 2013 in the aggregate amount of $23.525 million.
This district is administered by the City Treasurer’s Office’s Special Tax Administrator Harris & Associates at (866) 427-4304 and taxbillquestions@weareharris.com.
The Railyards CFD was formed in August 2018 to finance roadway, drainage, site grading, and underground utilities improvements. The CFD consists of approximately 187.71 gross acres, of which is 117.83 developable acres.
An issuance of bonds occurred in September 2022 in the amount of $30.0 million.
This district is administered by the City's Infrastructure Finance Division at (916) 808-1440 and PIF@cityofsacramento.org.
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