By: Libi Uremovic , December 25, 2013 | Original Article at Patch.com
The California Debt and Investment Advisory Commission has released a report on each individual Mello Roos Bond held by a public agency in California. This is only Mello
Roos and not other forms of RDA. The report can be viewed on the State Treasurer’s Office website: http://www.treasurer.ca.gov/cdiac/reports/M-Roo/2012.pdf
This part focuses on the delinquent taxes incurred on the individual Areas. State Report list 333 delinquent homes with a total of $918,553.00 delinquent taxes. The
Report lists Area 5 has having 22 delinquent homes and a total of $275,942 in delinquent taxes.
Area 5 acquired $2,345,669 bond debt in 1994 and $350,000 bond debt in 1996 for a total bond debt of $2,695,669, but Area 5 was never developed. Area 5 is the parcel of
land the City tried to approve for warehouses in July.
It is unknown why the State is under the impression there are 22 homes on this development.