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Community Facilities District Overview

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

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  1. Saugus Union School District Community Facilities District Overview

  2. History of Community Facilities Districts • What is a Community Facilities District? • What can CFDs pay for? • CFD Administration Process

  3. 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

  4. 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

  5. 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.

  6. CFD Flow of Funds

  7. 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

  8. Questions?

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