The Saugus Union School District will discuss multiple resolutions on Tuesday seeking to approve the levy and collection of more than $10 million in special taxes from four of the district’s Community Facilities Districts.
“When there’s a home that’s built in district boundaries, a fee must be paid,” board President Christopher Trunkey said. “There’s a couple different ways for developers to handle the payment.”
Developers can charge more for the house and directly pay the district the developer fees or they can set up a CFD, Trunkey said, which would require homeowners to pay a Mello-Roos, or special taxes that must be approved by more than two-thirds of the voters within the district.
Simply put, “it’s a different way for school districts to collect the fees that were owed to them, so districts can then go out and borrow against that money,” Trunkey said.
The largest levy will be imposed on West Creek’s CFD 2006-1, which will pay $4.7 million dollars in the upcoming year, according to the agenda report. CFD 2002-1, which covers the main Tesoro del Valle facility district, is scheduled to pay $1.2 million to the district, while developments in the River Village’s CFD will have $2.4 million levied against them.
The annual tax levy resolutions are part of an effort to pay for debt service (principal and interest), along with the cost of constructing or acquiring permitted facilities and administration fees, according to supporting documents.