Finance Committee approves bond and benefit agreements
At a glance
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The Finance Committee unanimously approved a proposed parity bond issuance for Community Facilities District No. 2023-2 Improvement Area 1 to help finance public improvements tied to 424 homes, and recommended two Community Benefit Agreements be sent to the City Council.
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What this means
The committee backed financing steps for a housing development and recommended two project benefit agreements go to the City Council for approval. One item would support public improvements for 424 homes in the Cimarron Ridge area south of Rouse Road and west of Byers Road. The other two items involve Community Benefit Agreements for the Double Butte Project and the Seaflower BESS Project, but the meeting minutes do not state the financial terms. The committee approved each action unanimously, 2-0.
Key decisions
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- Approved the January 13, 2026 Finance Committee meeting minutes unanimously, 2-0.
- Reviewed a proposed parity bond issuance for Community Facilities District No. 2023-2 Improvement Area 1 and recommended the Finance Department prepare the Official Statement and other legal documents for City Council consideration.
- Reviewed the proposed Community Benefit Agreement for the Double Butte Project and recommended submittal to the City Council for approval.
- Reviewed the proposed Community Benefit Agreement for the Seaflower BESS Project and recommended submittal to the City Council for approval.
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Meeting information
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Finance Committee Meeting
Agenda
- January 13, 2026 Finance Committee Meeting Minutes5.1Decision: 5. APPROVAL OF MINUTES
- Proposed Parity Bond Issuance for Community Facilities District No. 2023-2 Improvement Area 1 RECOMMENDED ACTION Review the proposed parity bond issuance request for Community Facilities District (“CFD”) No. 2023-2 Improvement Area 1, Cimarron Ridge, by Pulte Home Co., LLC, to finance the costs of certain public improvements in connection with the development of 424 homes in a community located south of Rouse Road and west of Byers Road within the City of Menifee (the “City”); and Recommend the Finance Department proceed with the preparation of the Official Statement and other legal documents related to the transaction for presentation to the City Council.6.1Decision: 6. DISCUSSION ITEMS
- Community Benefit Agreement (CBA) for Double Butte Project RECOMMENDED ACTION Review proposed Community Benefit Agreement (CBA) for Double Butte Project and recommend submittal to the City Council for approval.6.2Decision: 6. DISCUSSION ITEMS
- Community Benefit Agreement (CBA) for Seaflower BESS Project RECOMMENDED ACTION Review proposed Community Benefit Agreement (CBA) for Seaflower BESS Project and recommend submittal to the City Council for approval.6.3Decision: 6. DISCUSSION ITEMS
Documents from this meeting
- Agendahttps://cityofmenifee.primegov.com/Public/CompiledDocument?meetingTemplateId=12848&compileOutputType=1
- Packethttps://cityofmenifee.primegov.com/Public/CompiledDocument?meetingTemplateId=12850&compileOutputType=1
- Minuteshttps://cityofmenifee.primegov.com/Public/CompiledDocument?meetingTemplateId=12849&compileOutputType=1
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