Questions For Mello-Roos Public Hearing

Following is a copy of an email I sent this afternoon to Mr. Kapanicas and the 5 Council Members. It is a list of questions I would like addressed at tomorrow's public hearing.

If you have questions I didn't include, please come to the council meeting and get some answers. Or, at least send an email.


Mr. Kapanicas and Council Members,

Below are 13 questions I would like to submit for tomorrow night's public hearing on the CFD 93-1 Area 17c Mello-Roos bond issuance. Please respond to them during the public hearing.

Thank you.

Lloyd White

1. Why is this bond issue coming to the council now? It was approved by the sole property owner at the time, Pardee Homes, in July 2012.

2. Have the homeowners in Area 17c been charged any Mello-Roos fees up to this date? 

3. Since there appears to be very little notice of this public hearing outside of the minimum requirements of the law, the public notice in the local newspapers, will the Area 17c homeowners be caught off guard? 

4. Were individual notices sent to the 67 homeowners? If not, shouldn't they have been?

5. The original authorization by Pardee Homes was for $20,000,000 but it appears this bond issue is for around $6,000,000. Is there a clause in the documentation that the City can/will only refinance the bonds to improve interest rates or can new bonds be issued for the remainder? 

6. Will any improved rates in future refundings be passed on to the homeowners?

7. In the Project Engineer’s Report for the last bond re-issuance, there was an engineer’s report for the addition of sewer to a portion of Calimesa. Does that mean the Tournament Hills CFD revenue was, or will be used, to bring sewer to parts of Calimesa? 

8. Will the revenues from the bond sales for this new issuance, Area 17c, be used for sewer service in Calimesa?

9. Will the revenue from the Area 17c CFDs be used to build the Potrero Interchange?

10. Will the annual reports required in the documentation for the Area 17c bond issue be available on the City’s website? 

11. When did the first residents occupy homes in Area 17c?

12. What is the total number of homes proposed for Area 17c? 

13. If the bonds are issued for the full $20,000,000, what will be the average annual cost to a homeowner?