On December 20, two important votes were conducted that positively affected residential housing within San Bernardino County.
The San Bernardino City Council unanimous voted to allow formation of Community Facilities Districts (CFD) on future housing developments which will enable the city to attract, promote and encourage new development within their community.
CFD’s are a common tool used successfully by many jurisdictions in California to help finance the cost of new streets, sewers, storm drains, and schools. CFD’s allow homebuyers to potentially pay less upfront cost for their home resulting in a lower mortgage payment (and property tax).
The Town of Apple Valley Planning Commission approved on a 4-0 vote to recommend a new policy that creates a mechanism for the Town to accept a lien agreement as securities for subdivision improvements. The lien agreement policy will be up for consideration at the January 23, 2018 council meeting.
If adopted developers and home builders in Apple Valley will then have the option to secure subdivision improvements with a lien agreement, traditional bonding or a combination of both. This will significantly reduce the financial burden and carrying cost of new development in the Township.