Neighbor News
City Admits to Reimbursing Pardee Homes DIF with CFD Bond Money
Instead of Forging Infrastructure Reports, the City is now Admitting it Reimbursed Pardee Homes Mitigation Fees with CFD Construction Funds.
O' what a wicked web we weave when first we practice to deceive
It's illegal and immoral to trade Developer Mitigation Fees for CFD Bond Funds, but that is exactly what the Beaumont City Council has directed and 'Received and Filed' their Staff to do.
When a Public Records' Request was submitted for the Bond Requisitions in order to determine why in 2018 alone the City paid over $61 Million of CFD Bond Construction Funds to Developers Pardee Homes, K Hovanian, and Fairway Canyon.
Find out what's happening in Banning-Beaumontfor free with the latest updates from Patch.
The City of Beaumont released some of the Requisition, but refused to release Requisitions numbers 10 and 11 that facilitated the payments of $10.5 Million to Pardee Homes.
Requisitions numbers 1 through 9 claimed that the Developers were being reimbursed for Public Infrastructure they built. However; there are many laws and regulations regarding the building of public infrastructure including, but not limited to, Public Bid Contracts, Filing Wage Reports with the State of California, and having Receipts for the infrastructure built.
Find out what's happening in Banning-Beaumontfor free with the latest updates from Patch.
But there was one thing the Beaumont City Staff and Council screamed from the highest rooftops: "Developer Mitigation Fees Are NOT Being Reimbursed With Mello Roos CFD Funds."
On December 4, 2018, the City of Beaumont acquired a $12,680,000 CFD Mello Roos Bond that will be paid for by the 'Future' Property Owners of 8E. At total of j$11,605,720.71 was allocated to the Bond Construction Fund.
On December 13, 2018, the City received $9,450,982.06 from the Bond and Transferred the entire amount to Pardee Homes the very same day.
On December 27, 2018, the City of Beaumont received $2,154,738.65 - which drained the Bond's Construction Fund - and Transferred the entire amount to Pardee Homes the very same day.
Instead of trying to claim Public Infrastructure was built; the City now admits that they are using Bond Money to Reimburse Developer Mitigation Fees for Fire Stations, Roadways, Recycled Water, Recreation Facilities, Police Facilities, and Public Facilities, Railroad Crossings, and Traffic Signals.
Is it legal to use CFD Bond Money to reimburse Developer Mitigation Fees?
Nooooooooooo - that's not legal, but it might be 'less illegal' that claiming the Developers built Public Facilities that don't exist.
