Harris Ranch Community Infrastructure District No. 1 - Regular Meeting

The Harris Ranch Community Infrastructure District No. 1 held a regular meeting on August 12, 2026, focusing primarily on fiscal and budgetary matters related to community infrastructure financing. Key procurement-related discussions included the approval of the fiscal year 2027 operating budget, which increased from $9.2 million to $14.5 million due to updated bond capacity estimates. The board also addressed the special assessment rolls tied to a $4 million special assessment bond issued in 2011, which is being considered for refunding to achieve lower interest rates and savings for property owners. The meeting included public hearings on foregone tax recovery, the fiscal year 2027 budget, and the special assessment roll, with motions passed to approve the budget and confirm the adjusted assessment roll necessary for bond refunding. The board authorized the issuance and sale of refunding bonds up to $3,195,000 to refinance the outstanding special assessment bonds, aiming to reduce interest costs from 9% to an estimated 6.5%. Additionally, the district plans to outsource management to Blackwood Advisors, with a contract expected to be presented in the next meeting. Overall, the meeting centered on financial management and bond refinancing to support infrastructure development within the district.