For City Council Meeting February 10, 2026
TO: Honorable Mayor and City Council
FROM: Tanya Williams, City Manager
AUTHOR: Scott Williams, Director of Finance
Title
Request City Council to Adopt Resolution No. 8467 Authorizing the Issuance of Special Tax Bonds for and on Behalf of Community Facilities District No. 2024-1 (Renaissance), Approving and Directing the Execution of a Fiscal Agent Agreement and Bond Purchase Agreement, Approving the Form of Preliminary Official Statement, Approving the Sale of Such Bonds, and Approving Other Related Documents and Actions.
(ACTION)
Body
RECOMMENDATION
Staff recommends that the City Council adopt a Resolution authorizing the issuance of Special Tax Bonds for and on behalf of Community Facilities District No. 2024-1 (Renaissance), approving and directing the execution of a Fiscal Agent Agreement and Bond Purchase Agreement, approving the Form of Preliminary Official Statement, approving the sale of such bonds, and approving Other related documents and actions.
BACKGROUND
The Project and the Development Agreement
In 2016, the City entered into a Development Agreement (Development Agreement) with Lewis-Hillwood Rialto Company, LLC (Lewis) that provides for the development of the Renaissance master planned development in accordance with the objectives set forth in the General Plan and in the Renaissance Specific Plan. At build-out, land within the Renaissance Specific Plan is anticipated to consist of up to 1,300 rental and for-sale housing units, 800 acres of industrial and commercial land uses, neighborhood parks, paseos and greenbelts, trails and walkways, public streets and other amenities.
Community Facilities Districts
Community Facilities Districts (CFDs) are established pursuant to the provisions of the California Government Code Section 53311 et seq. (commonly known as the "Mello-Roos Community Facilities Act of 1982") (Act). CFDs raise money through special taxes that must be approved by 2/3 of the qualifi...
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