Eastern Municipal Water District
California

Action/Info Item
4796

Adopt a Proposed Resolution of the Board of Directors of Eastern Municipal Water District Approving a Joint Community Facilities Agreement as to Form for Hemet Unified School District Community Facilities District No. 2020-1

Information

Department:FinanceSponsors:
Category:Action/Info ItemMeeting Workflows:Board Admin Committee Workflow

Background

Hemet Unified School District (HUSD) is forming Community Facilities District (CFD) No. 20201 pursuant to the provisions of the Mello-Roos Community Facilities Act of 1982. The Governing Board of HUSD approved the Resolution of Formation to form this CFD on June 23, 2020.  This project is planned for 147 single family homes within Tentative Tract Map No. 37737.  The CFD is located in the City of Hemet, south of State Highway 74 and west of California Avenue, as depicted on the attached Boundary Map (Exhibit C). 

 

The property owner, DDE Hemet LLC, and HUSD have requested Eastern Municipal Water District (EMWD) enter into a Joint Community Facilities Agreement (JCFA) relating to HUSD CFD No. 20201Global Investment and Development will be the developer on this project.  This CFD will comply with EMWD’s land secured guidelines as they relate to maintaining an overall effective tax rate that does not exceed two percent at the time of bond sale.  The CFD will finance school fees, EMWD facilities, and EMWD facility costs in lieu of feesEMWD will own and operate the water and sewer improvements financed through this CFD.  In addition, HUSD agrees that they will not place EMWD’s name on the property tax roll for any property tax bills within HUSD CFD No. 2020-1.

 

The Resolution (Exhibit A) approving the Joint Community Facilities Agreement (Exhibit B), as to form, will authorize the President, or the General Manager, or Deputy General Manager, or the Chief Financial Officer of EMWD, and the Secretary of the Board of Directors of EMWD to execute and deliver the Joint Community Facilities Agreement.

 

Financial/Strat Plan/Enviro

FINANCIAL IMPACT:

None

 

STRATEGIC PLANNING GOAL/OBJECTIVE:

Financial Stability: Enhance and maintain EMWD’s strong financial position and credit quality by identifying and implementing specific opportunities to improve underlying financial metrics.

 

ENVIRONMENTAL IMPACT:

None

Recommendation

Adopt the proposed Resolution approving a Joint Community Facilities Agreement as to form between Hemet Unified School District, Eastern Municipal Water District, and DDE Hemet LLC, for Hemet Unified School District Community Facilities District No. 2020-1.

Meeting History

Feb 4, 2021 4:00 PM  Board Administrative Committee Regular Meeting
draft Draft
RESULT:RECOMMENDED FOR APPROVAL
Feb 17, 2021 9:00 AM  Board of Directors Regular Meeting
draft Draft

Resolution 2021-032

RESULT:APPROVED [UNANIMOUS]
MOVER:Stephen J. Corona, Board Member
SECONDER:Jeff Armstrong, Board Member
YES:Philip E. Paule, Jeff Armstrong, Stephen J. Corona, Randy A. Record, David J. Slawson