HomeMy WebLinkAboutResident Letter Requesting a No Vote on CFD 2005-2B Reduction In Mello Roos TaxPLEASE READ AT THE MAY 13, 2014 CITY COUNCIL MEETING
RE: May 13, 2014 City Council Meeting (no agenda item number yet at this time)
Dear Mayor Johnson and Council:
We are asking you to vote NO on placing the reduction of CFD rates for CFD2005-28 on a future
calendar. We don't believe this issue should ever be placed on the calendar for a vote when it is
presented to you during the May 73,2074 by Castle &Cooke. All current homeowners in Alberhill
Ranch will be hurt if CFD2005-28 gets a lower mello roos rate.
We understand Castle & Cooke wanting to sell land in 2005-8 and believe the City should make it a
mandatory part ofthe approvalthat castle & cook buy down ALL CFD2005-2A bonds (for all the houses
and land) to meet the new proposed rates for 2005-8. We would like to remind you last year the City
looked at refunding the bond for CFD2005-A and it was determined at that time we are at the best rate
we can get, so refunding is not an option.
The CFD rate in Alberhill Ranch was established lwe believed when we purchosed our homesl at the
same rate for all of Alberhill Ranch and we believe it should remain the same and/or the developer
Castle & Cooke or their prospective buyer should be required to pay all bonds in CFD2005-2A down to
be equalto the proposed rates they are asking for in 2005-28.
There is no reason for this to be occurring houses are selling and prices of homes are going up.
Some of us paid extremely high market values in Alberhill Ranch for our homes over S600k and we are
paying CFD taxes on that amount. Some of us are paying approximately 56,000.00 a year in taxes for
CFD2005-A. The proposed rate for CFD2005-B would be 52,100.00 a year for the same house. The
price of many of our homes have plummeted and will take a real nose dive if you approve this proposed
reduction in taxes for CFD2005-8.
As our elected representatives we are asking you to help us in this situation and not let this item be
placed on a future calendar for a vote.
Warm regards,
Paulie Tehrani and Sharon Galllna
Home Owners Alberhill Ranch CFD-2005A
Lake Elsinore, CA 92530