Two community facilities districts in the southern portion of Apache Junction may sell up to $400M in general obligation bonds for infrastructure.
The boards for Superstition Vistas Community Facilities District Nos. 1 and 2 voted to approve resolutions to adopt the results of district bond elections held February 2nd.
The districts cover the master-planned communities for D.R. Horton and Brookfield Residential that will have approximately 10,500 residences when built out.
The bonds will be repaid by SVCFD residents through a property tax. SVCFD No. 1 residents can expect to pay $3.30/$100 of assessed value, while SVCFD No.2 residents will see a rate of $3.85. The difference is due to the projected infrastructure needs and costs for each district. (Source)