Temecula Valley Wine Country EIFD
Enhanced Infrastructure Financing Districts (EIFDs) were introduced by the California Legislature from 2014-2015, enabling a new model for financing infrastructure and economic development in California. Government Code Sections 53398.50 through 53398.88 (EIFD law) authorizes EIFDs to issue bonds to finance public capital facilities. The available revenue for bonding is the increment of property tax and vehicle license fees within the established boundary, starting from the Fiscal Year after the ordinance to form the EIFD is passed. An EIFD is not a new tax imposed on property owners
Riverside County has initiated the process of establishing an Enhanced Infrastructure Financing District (EIFD) for the Temecula Valley Wine Country. The Purpose of the EIFD is to establish a funding mechanism that can finance the planning, design, and construction of infrastructure in the Temecula Valley Wine Country.
THE ESTABLISHMENT OF THE EIFD WILL NOT RESULT IN ANY NEW TAXES OR FEES TO THE PROPERTY OWNERS
Once established, the incremental property taxes collected by the County in the EIFD area above the amount collected in the base year (expected to be 2022) would be specifically used to fund the infrastructure projects listed in the Infrastructure Financing Plan (IFP).
Temecula Valley EIFD Public Financing Authority
The County of Riverside Board of Supervisors has established a separate body, the Temecula Valley Wine Country EIFD Public Financing Authority (PFA), to oversee the creation of the EIFD and to consider the IFP based upon public comment. Any member of the may public may attend the PFA meetings to provide comments. Meeting locations and times will be posted on this website. Additionally, you may submit comments below by clicking on the following button or you can mail them directly to the Temecula Valley Wine Country Enhanced Financing District, Public Financing Authority, Attn: Mike Franklin at 3403 10th Street, Ste. 400, Riverside, CA 92501.
All meetings take place at the County Administrative Center located at 4080 Lemon Street, Riverside, CA 92501. They will be held immediately after the board meeting.
INFORMATIONAL MEETING - Monday, July 12th @10am (located at 3403 10th St., Riv, CA)
Tuesday, August 17, 2021 - AGENDA / DTA Presentation / Meeting Minutes
Tuesday, September 21, 2021 - AGENDA / Meeting Notes
Tuesday, November 9, 2021 - AGENDA / Meeting Notes
Click here for a copy of the Temecula Valley EIFD presentation given on July 12th
EIFD DISCLOSURES & INFORMATION
Click here to review the full Public Notice
Click here to review Resolution 2021-056 -Intention to Establish the Temecula Valley EIFD
Click here to review Resolution 2021-057 - Establishing of the Temecula Valley EIFD - Public Financing Authority
Click here to review the Infrastructure Financing Plan
Click here to review the Supplemental Resolution 2021-153 - Intention to Establish the Temecula Valley Wine Country EIFD
Please click on the following link below to view a complete boundary map of Temecula Valley Wine Country EIFD.
Frequently Asked Questions
Below are frequently asked questions.
What is an EIFD?
Enhanced Infrastructure Financing Districts (EIFDs) are districts with defined boundaries that use local property taxes to issue bond to fund infrastructure projects (e.g. streets, public safety enhancements, trails, signage). EIFDs can be formed among any entities with property taxing authority, including County, City, or Special District, but excludes school districts.
Does an EIFD create a new tax?
NO. The establishment of an EIFD will not result in any new taxes or fees to the property owners. The EIFD allows for a reallocation of future property taxes to a separate account to be used to pay for Infrastructure improvements that benefit a designated area.
Why is the County forming an EIFD?
The EIFD allows funds generated to be re‐invested in a designated area. These revenues serve as a dedicated source of public funds for improvements. Some proceeds will be used to pay the amount required to cover the repayment of municipal bonds issued by the EIFD.
Who approves an EIFD?
The local elected officials vote to form the EIFD and create a Public Financing Authority (PFA). The PFA Board serves as the governing body to implement the EIFD projects that are listed in the Infrastructure Financing Plan (IFP). Although, there is no public vote to form an EIFD, there are 3 public hearings held by the PFA where property owners can provide feedback and voice any concerns. At the final hearing, the PFA Board (made up of 3 Supervisors and 2 members of the public) will vote whether to form the EIFD or delay proceedings based on any protest received.
How long does an EIFD last?
An EIFD can collect and spend property tax increment up to 45 years after the first bond is issued.