Joint Community Facilities Districts

JOINT MEETING OF THE COMMUNITY FACILITIES DISTRICTS CITY OF BUCKEYE, ARIZONA PURSUANT TO SECTIONS 48-711, 48-715 AND TITLE 38, CHAPTER 3, ARTICLE 3.1 ARIZONA REVISED STATUTES, AS AMENDED ANTHEM SUN VALLEY COMMUNITY FACILITIES DISTRICT ELIANTO COMMUNITY FACILITIES DISTRICT FESTIVAL RANCH COMMUNITY FACILITIES DISTRICT MIRIELLE COMMUNITY FACILITIES DISTRICT SUNDANCE COMMUNITY FACILITIES DISTRICT TARTESSO WEST COMMUNITY FACILITIES DISTRICT FLOREO AT TERAVALIS COMMUNITY FACILITIES DISTRICT VERRADO DISTRICT 1 COMMUNITY FACILITIES DISTRICT VERRADO WESTERN OVERLAY COMMUNITY FACILITIES DISTRICT WATSON ROAD COMMUNITY FACILITIES DISTRICT WESTPARK COMMUNITY FACILITIES DISTRICT CITY OF BUCKEYE JOINT COMMUNITY FACILITIES DISTRICTS OCTOBER 7, 2025 MINUTES City Council Chambers 530 East Monroe Avenue Buckeye, AZ 85326 5:15 p.m. Pursuant to A.R.S. § 38-431.03(A)(3) the Board of Directors of the Joint Community Facilities Districts may, by majority vote, recess or adjourn to executive session at one or more times during the meeting, as needed to confer with the Board Attorney for legal advice regarding any item listed on this agenda. 1. Call to Order/Roll Call Chairman Orsborn called the meeting to order at 5:15 p.m. Members Present: Board Member Youngker, Board Member Berry, Board Member Goodman, Board Member HagEstad, Board Member Beard, Vice Chair Heustis, and Chairman Orsborn. Members Absent: None. Departments Present: District Manager Doug Sandstrom, Deputy District Manager Dave Roderique, Deputy District Manager Javier Setovich, Interim Deputy District Manager Cindy Camarata, District Attorney Scott McCoy, City Clerk Lucinda Aja, District Attorney Andrew McGuire, and Special Districts Manager Larry Price. 2. Public Hearings and Non-Consent New-Business October 7, 2025 Joint Community Facilities Districts Meeting Minutes 2.A Board of Directors of the Watson Road Community Facilities District (City of Buckeye, Arizona) to conduct a public hearing on objections received, to take action on the objections, and to take action on Resolution No. 04-25 approving the modification of assessments in Assessment District No. 1. Staff Liaison: Brandon Squire, District Engineer Mr. Price presented information regarding the proposed assessments modification in the Tyler Ranch Watson Road Community Facilities District (CFD). The CFD was formed in 2005, issuing $49 million in special assessment revenue bonds for approximately 2,000 acres, including 8,000 single-family residential equivalent lots. Assessment No. 14, known as Tyler Ranch, consists of 71 acres and 303 lots. Principal payments on the bonds have been collected with property taxes since 2005. Recently the developer decided to develop the Tyler Ranch lots, leading to the subdivision of the 71 acres into 303 lots. The remaining principal and interest are now distributed pro rata across these lots. Some lots were sold before the assessment modification, causing confusion among new homeowners who received unexpected payment letters. The payoff date for these bonds is July 2031. Mattamy Homes USA, the majority owner of the real property subject to Assessment No. 14, has requested that it be modified to place a per lot assessment of: (i) $1,762.30 on newly created Assessment Nos. 14T-01- 001 through 14T-01-025, Assessment Nos. 14T-03-001 through 14T-03-041, and Assessment Nos. 14T-03-001 through 14T-03-041; and (ii) $1,762.29 on newly created Assessment Nos. 14T-02-145 through 14T-02-147, and Assessment Nos. 14T-03-042 through 14T-03-131. The requested changes will not alter the current outstanding total assessment amount of $533,975.97. The board received one written objection, which did not describe the reason for the objection or any other details. Chairman Orsborn opened a public hearing at 5:22 p.m. to hear citizen input regarding the proposed modification of assessments. There being no public comment, Chairman Orsborn closed the public hearing at 5:22 p.m. A motion was made by Vice Chair Heustis and seconded by Board Member HagEstad to deny the objection received and adopt Resolution No. 04-25 approving the modification of assessments in Assessment District No. 1. Motion passed unanimously. 3. Adjournment There being no further business to discuss, Chairman Orsborn adjourned the meeting at 5:23 p.m. _________________________________ Eric W. Orsborn, Chairman ATTEST: _________________________________ Lucinda J. Aja, District Clerk I hereby certify that the foregoing minutes are a true and correct copy of the Joint Community Facilities Districts Meeting held on October 7, 2025. I further certify that a quorum was present. ________________________________ Lucinda J. Aja, District Clerk October 7, 2025 Joint Community Facilities Districts Meeting Minutes