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THIS TIME I'D LIKE TO CALL TO ORDER THE ALAMAR COMMUNITY FACILITIES DISTRICT BOARD MEETING OF MAY 5TH, 2025.CHRIS, COULD YOU PLEASE DO ROLL CALL, UH, BOARD MEMBER CONDI HERE.
BOARD MEMBER WHITE PRESENT VICE CHAIR NIELSEN HERE.
AND, UH, BOARD MEMBER SOLORIO HAS AN EXCUSED ABSENCE TONIGHT.
[a. Minutes]
THANK YOU MR. MAYOR.LOOKS LIKE THE FIRST ITEM IS OUR, OUR MINUTES.
UM, THE DISTRICT BOARD WILL CONSIDER A REQUEST TO APPROVE THE JUNE 3RD, 2024 ALAMAR COMMUNITY FACILITIES DISTRICT BOARD MEETING MINUTES.
CAN WE GET A VOTE OR MOTION? WE GOT A MOTION FOR COUNCIL MEMBER CONDI SECOND FROM COUNCIL MEMBER WHITE, PLEASE VOTE.
[b. CFD Resolution 1-2025 - Adoption of the Alamar Community Facilities District Fiscal Year 2026 Tentative Budget]
RON.UH, NEXT UP IS A CFD RESOLUTION, THE ADOPTION OF THE ALAMAR COMMUNITY FACILITY DISTRICT'S FISCAL YEAR 2026, TENTATIVE BUDGET AND YOU HAVE YOUR BUDGET DIRECTOR APPEAR.
GOOD EVENING, CHAIR OF VICE CHAIR AND MEMBERS OF THE AMAR CFD BOARD.
I'M RENEE WELA, THE TREASURER OF THE A-M-R-C-F-D.
UM, THE ALAMAR COMMUNITY FACILITIES DISTRICT IS A SPECIAL TAXING DISTRICT AND A SEPARATE POLITICAL SUBDIVISION OF THE ARIZONA CONSTITUTION, UM, DESIGNED TO FINANCE PUBLIC INFRASTRUCTURE AND SERVICES SUCH AS ROADS, PARKS, WATER AND SEWER FACILITIES AND PUBLIC SAFETY FACILITIES.
THE CFC IS FUNDED THROUGH THE ISSUANCE OF BONDS.
THE DEBT IS SUBJECT TO ONLY THE PROPERTIES LOCATED WITHIN THE CFD BOUNDARIES AND IS REP REPAID BY PROPERTY OWNERS WITHIN THE DISTRICT THROUGH AN ADDITIONAL ANNUAL PROPERTY TAX ASSESSMENT.
THE CITY OF DALE HAS NO LIABILITY FOR THE DISTRICT'S DEBT.
THE A-M-R-C-F-D BUDGETED SOURCES FOR FISCAL 2026 CONSISTS OF, UM, PROPERTY TAX REVENUE AND BOND PROCEEDS FROM AN ANNUAL BOND ISSUANCE IN FISCAL 26.
IN ADDITION TO THIS YEAR'S BOND ISSUANCE WILL, WHICH WILL BE BROUGHT BACK TO THE BOARD, UM, FOR APPROVAL ON MAY 19TH, THE EXPENSES CONSIST OF ONGOING COST TO OPERATE THE CFD, THE COST TO REPAY EXISTING DEBT SERVICE PAYMENTS, AND THE CAPITAL COST OF THE PUBLIC INFRASTRUCTURE THAT HAVE BEEN COMPLETED WITHIN THE DISTRICT.
FOR FISCAL 26, THAT TOTAL IS 10.9 MILLION.
THE DISTRICT WILL LEVY A COMBINED PROPERTY TAX RATE OF $4 AND 15 CENTS PER $100 OF ASSESSED VALUATION.
AGAIN, ONLY THE PROPERTIES LOCATED WITHIN THE CFD BOUNDARIES ARE SUBJECT TO THIS LEVY.
THIS COMBINED PROPERTY TAX RATE CONSISTS OF A PRIMARY RATE, WHICH IS LIMITED TO 30 CENTS, AND IT'S USED TO FUND THE, THE GENERAL OPERATIONS OF THE DISTRICT AND A SECONDARY RATE, WHICH IS LIMITED TO $3 AND 85 CENTS PER $100 ASSESSED VALUATION AND IS USED TO PAY TO REPAY THE DEBT SERVICE PAYMENTS OF THE DISTRICT.
THIS IS THE INITIAL STEP IN THE DISTRICT'S FISCAL 2026 BUDGET.
WE PLAN TO COME BACK, UM, TO THE ALAMAR CFD BOARD ON MAY 19TH TO APPROVE THE ISSUANCE OF APPROXIMATELY $6.4 MILLION IN GENERAL OBLIGATION BONDS.
WE WILL ALSO BE POSTING A PUBLIC NOTICE OF THE BUDGET HEARING AND WILL RETURN TO THE BOARD ON JUNE 2ND TO HOLD THE PUBLIC HEARING BEFORE ADOPTING THE FINAL BUDGETS AS WELL AS ADOPTING THE CFD PROPERTY TAX AND LEVY.
SO WITH THAT, A MOTION IS TO ADOPT CFD RESOLUTION ONE DASH 2 0 2 5, SETTING FORTH THE FISCAL 2026 TENTATIVE BUDGET AND ANNUAL EXPENDITURE LIMITATION.
THAT CONCLUDES THE PRESENTATION.
BOARD MEMBER CONDI SECOND FROM BOARD MEMBER WHITE.
CAN I GET A MOTION MOTION FROM BOARD MEMBER WHITE SECOND FROM BOARD MEMBER GARCIA, PLEASE VOTE.