CFD No. 2016-1 (Public Services)

City of CoronaFLED Meeting

November 4, 2015

Goal: Identify a stabile revenue stream to mitigate new development impacts to services

Great Recession City saw reductions of revenues of 20% in Sales Tax & 13% in Property Tax.

While Total Expenditures went down 26%, Public Safety increased by 2%.

CFD No. 2016-1 (Public Services)

City is currently 92% developed. Nearly 13,400 more residents to the City at build-out. A Public Services CFD tax will provide a maximum tax

that will allow the City to maintain a preferred level of public services.

Many Cities have Public Services CFDs or are looking at establishing their own.

CFD No. 2016-1 (Public Services)

General Fund Expenditures

General Government - 14%, $15,553,609

Community Develop-ment- 3%, $3,206,003

Public Works/En-gineering -10%, $10,414,341

Community Services - 4%, $4,667,499

Animal Control Ser-vices - 1%, $1,116,866

Police Services - 43%, $46,712,793

Fire Services - 25% $27,355,300

Property Taxes; 39% Sales and

Use Tax; 52%

Franchise Fees &

Misc, 9%

General Fund Revenues

$- $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 $0.70 $0.80 $0.90 $1.00

$0.12 $0.10 $0.19

$0.59 SchoolsCountySpecial DistrictsCities

Ad Valorem Property Tax Distribution

Every $100 of Assessed Property Value

CFD No. 2016-1 (Public Services) Tax Rate

SFR MFR $- $200 $400 $600 $800

$1,000 $1,200 $1,400 $1,600 $1,800

$478 $332

$632

$439

$106

$74

$516

$359 CFD TaxFranchise, Fees & MiscSales and Use TaxProperty Taxes

Next Steps The first project will establish the CFD for public

services. New residential development will be included into CFD

No. 2016-1 to mitigate their impacts on public services. As each construction project comes forward they will be

annexed into the CFD and taxed as they become developed.

The CFD will be levied for as long as services are being provided.

CFD No. 2016-1 (Public Services)

Questions?