Another day, another disaster caused by Aliso Viejo Mayor Carmen Cave and her City Council colleagues.
“Each year, owners of 458 other homes in the Glenwood development pay a special tax of $3,000 to $7,000 on top of their property taxes, based on the square footage of their home. That money pays for the Aliso Viejo Conference Center, Aquatic Center and Golf Drive, along with utility, street and sewer improvements,” according to the O.C. Register.
But wait – this mess is even bigger than you might think:
And the bill has been rising.
Each year, the Aliso Viejo City Council has approved a 2 percent levy increase, which it can continue to raise until the bond is paid off – currently due in 2038.
According to the city’s latest annual report, the bond will accrue $47.5 million in interest.
That means Glenwood taxpayers could pay as much as $81.6 million.
And what does the ridiculous Cave have to say about this?
“If they were not paying Mello-Roos, they would be going to the schools for free and using the streets for free that everybody else would have paid for on their behalf,” Mayor Carmen Cave said. “We discussed this extensively at the time we formed these districts.”
Amazing. Will the voters in Aliso Viejo remember this the next time Cave asks for their vote?
The three Mello-Roos districts in Aliso Viejo:
Capistrano Unified School District Community Facilities District No. 87-1: $71,810,000 issued in 2006; $45,905,000 outstanding
• Total assessed value of parcels in the district is $9.3 billion
• Will be paid off in 2020
Orange County Community Facilities District No. 88-1: $207,845,000 in bonds issued in 1994
• Total assessed value of parcels in the district is $6.8 billion
• Paid off in September
Aliso Viejo Community Facilities District No. 2005-1 (Glenwood): $34,070,000 in bonds issued in 2007; $34,030,000 outstanding
• Total assessed value of parcels in the district is $286million
• Will be paid off in 2038
Source: City of Aliso Viejo, California State Treasurer’s Office, County of Orange CEO