Fellow homeowners,
You should see a reduction in the line item in the property taxes when you receive your fall SD County Tax Assesssor bill. The property tax bill has a whole bunch of line items one of which is for CFD #1 - Community Facilities District #1, commonly referred to as Mello-Roos. Mendocino, together with Cambria, Saxony, and Encinitas Ranch HOAs, is part of CFD#1. CFD#1 annual tax contributions are shared by these HOAs and Encinitas Ranch Golf Authority (ERGA). Pursuant to the Encinitas Ranch Development Agreement, if ERGA's annual revenues fall short, the HOAs' share of annual tax contributions increases, which was the case in the past. If ERGA has excess golf course net revenues, there is a five year look back provision to pay back the tax shortfall.
The good news is the golf course is doing extremely well and so much so that they have made all of their contributions to the CFD #1 bonds that are part of our property tax bill. In addition ERGA is going to pay back all of the under payments for 2018, 2019 and 2020 ($562,055), which should result in the homeowners' reduction in the CFD#1 tax line item going forward.
Slav
