Next Tuesday’s (February 4, 2014) Beaumont City Council meeting is very important to the future of our Mello-Roos debt. The council has added an agenda item (Item 6. B) to consider a future agenda item for “Resolution of the Beaumont Financing Authority regarding Improvement Area 18 (Stetson)”. This means they will be deciding whether or not to move forward with Stetson property owners' request to amend our agreement with the Beaumont Finance Authority (the City) to limit future debt and to get full accounting of our payments and reserve fund balance.
The council could choose not to consider a future agenda item and try to dismiss the petition, signed by 100 property owners living in the Stetson community, without giving any response to our concerns. They would have to present a justification for ignoring state law and property owners would then have some options. I am hoping it won't come to this and they will work with us as our public servants, not against us. The council's action and the process to follow could be important to all property owners in the CFD improvement areas throughout the city.
If we can convince the council to honor our requests and then consider a new financial strategy which doesn't depend on saddling new and future residents with enormous amounts of debt to finance infrastructure and public services in which the entire community will share, everyone will benefit.
We need to have a large turnout to help the Council realize this is important. The property owners in Stetson need support from all residents paying CFD fees and all Beaumontians who want to encourage a more sustainable strategy. Please be at the council meeting by 5:45. It isn’t necessary for you to speak but if you want to, you will need to fill out a request to speak before the meeting begins at 6:00.