HomeMy WebLinkAbout2026-006 CFD 2015-4 (Terracina) Approving JCFA and Acquisition, Construction, and Funding AgreementRESOLUTION NO. 2026-6
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,
CALIFORNIA, APPROVING A JOINT COMMUNITY FACILITIES AGREEMENT
AND AN ACQUISITION, CONSTRUCTION, AND FUNDING AGREEMENT FOR
COMMUNITY FACILITIES DISTRICT NO. 2015-4 OF THE CITY OF LAKE
ELSINORE (TERRACINA)
Whereas, the City Council of the City of Lake Elsinore (the “City”), located in Riverside
County, California (hereinafter sometimes referred to as the “legislative body of the District”),
previously formed Community Facilities District No. 2015-4 (Terracina) of the City of Lake
Elsinore (the “District”) pursuant to the terms and provisions of the Mello Roos Community
Facilities Act of 1982, as amended, being Chapter 2.5, Part 1, Division 2, Title 5 of the
Government Code of the State of California (the “Act”); and
Whereas, subsequent to the formation of the District, the District received a petition
signed by the property owner within the District, requesting that the District approve a new rate
and method of apportionment for the District (the “Change Proceedings”); and
Whereas, on March 8, 2022, following the close of a noticed public hearing, the City
Council adopted Resolution No. 2022-25, which called a special election on March 8, 2022
within the District on the approval of the Change Proceedings; and
Whereas, on March 8, 2022, a special election was held within the District at which the
qualified electors approved by more than a two-thirds vote, the Change Proceedings; and
Whereas, pursuant to Section 53316.2 of the Act, a community facilities district is
authorized to finance facilities to be owned or operated by an entity other than the agency that
created the community facilities district pursuant to a joint community facilities agreement; and
Whereas, Elsinore Valley Municipal Water District (the “Water District”), previously
authorized the use of the District to finance water and/or sewer facilities that will be constructed,
owned and operated by the Water District and have requested the City to enter into a joint
community facilities agreement that would permit the District to finance such facilities, the form
of which is on file with the Secretary of this City Council and which is incorporated herein by this
reference (the “Joint Community Facilities Agreement”); and
Whereas, KB HOME COASTAL, INC., a California corporation (the “Developer”), owns
property within the District; and
Whereas, the Developer and the City (acting for itself and on behalf of the District)
desire to enter into the Acquisition, Construction and Funding Agreement in the form on file with
the City Clerk (the “Acquisition Agreement”), to constitute a formal understanding between the
Developer and the City concerning financial and other obligations and responsibilities related to
the Improvements to be financed by the District, and to set forth the conditions upon which the
District will reimburse the Developer or its designee for certain costs of the Improvements
constructed by or on behalf of the Developer, including from proceeds of the Bonds, to the
extent available;
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CC Reso. No. 2026-6
Page 2 of 3
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE DOES
HEREBY RESOLVE, DETERMINE, AND ORDER AS FOLLOWS:
Section 1. Each of the above recitals is true and correct.
Section 2. Pursuant to Section 53316.2 of the Act, this City Council hereby approves
the Joint Community Facilities Agreement substantially in the form on file with the City Clerk and
determines that the Joint Community Facilities Agreement will be beneficial to the residents of
the territory served by the City and included within the jurisdictional boundaries of the District.
The Mayor, the City Manager, the Assistant City Manager, or their written designees are each
hereby authorized and directed to execute and deliver the Joint Community Facilities
Agreement in said form with such changes, insertions, and omissions as may be approved by
the officer or officers executing such agreement, said execution and delivery being conclusive
evidence of such approval.
Section 3. The City Council hereby approves the Acquisition Agreement in
substantially the form presented to the City Council at this meeting. The Mayor, the City
Manager, and the Assistant City Manager are each hereby authorized and directed to execute
and deliver the Acquisition Agreement in said form with such changes, insertions, and
omissions as may be approved by the officer or officers executing such agreement, said
execution and delivery being conclusive evidence of such approval.
Section 4. This Resolution shall be effective upon its adoption.
Passed and Adopted at a regular meeting of the City Council of the City of Lake
Elsinore, California, this 13th day of January 2026.
Robert E. Magee
Mayor
Attest:
Candice Alvarez, MMC
City Clerk
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CC Reso. No. 2026-6
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify
that Resolution No. 2026-6 was adopted by the City Council of the City of Lake Elsinore,
California, at the Regular meeting of January 13, 2026 and that the same was adopted by the
following vote:
AYES: Council Members Tisdale, Manos, and Carroll; Mayor Pro Tem Sheridan; and Mayor
Magee
NOES: None
ABSENT: None
ABSTAIN: None
Candice Alvarez, MMC
City Clerk
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