Board of Directors of the Floreo at Teravalis Community Facilities District (City of Buckeye, Arizona) ("the District") to conduct a public hearing only on the assessment, the completion of the work

2.B
CITY OF BUCKEYE
Joint Meeting of the Community Facilities Districts
COUNCIL ACTION REPORT
MEETING DATE: 07/01/25
AGENDA ITEM: 2.B. FIN - Floreo at
Teravalis Community Facilities District
Board of Directors to Conduct Public
Hearing on Special Assessment
DATE PREPARED: 06/26/25
DISTRICT NO.: Floreo at Teravalis
STAFF LIAISON: Larry Price, Special Districts Manager, lprice@buckeyeaz.gov,
(623) 349-6164
DEPARTMENT: Financial Services
AGENDA ITEM TYPE: Public Hearing
and Non Consent - New Business Items
ACTION/MOTION: (This language identifies the formal motion to be made by the Council) 
Board of Directors of the Floreo at Teravalis Community Facilities District (City of Buckeye, Arizona) ("the
District")  to conduct a public hearing only on the assessment, the completion of the work and the
proceedings heretofore had and taken with respect to the District Special Assessment District No. 1.
SUMMARY
PROJECT DESCRIPTION:
The Board will conduct a public hearing on the Special Assessment, the completion of the work and the
proceedings heretofore had and taken with respect to the Floreo at Teravalis Community Facilities
District (City of Buckeye, Arizona) Special Assessment District No. 1.
BENEFITS:
This financing allows the developer, Trillium Land Company, LLC (an affiliate of Howard Hughes
Holdings Inc.), to be reimbursed for a portion of the cost of the public infrastructure, while causing the
eventual homeowner to be responsible for their respective share of the cost in the form of a special
assessment in the amount of $10,000. Homeowners may pay the assessment in full on any date or may
pay over a period of time in the form of debt service on the Assessment District No. 1 Special
Assessment Revenue Bonds, Series 2025. 
FUTURE ACTION:
Following the public hearing, the Board will consider Resolution No. 14-25 approving the assessment,
determining the work has been completed and ordering the collection of the amount assessed. The
Board will then consider Resolution No. 15-25 authorizing the sale and issuance of the Special
Assessment District No. 1 Special Assessment Revenue Bonds, Series 2025.
FINANCIAL IMPACT STATEMENT:
N/A
BUDGETED:
Yes
FISCAL YEAR:
2025-2026
Items related to a project or facility location must include an attached vicinity map for Council
Review.
ATTACHMENTS:

NTC - Floreo CFD SAD #2 - Notice of hrg on assessment(6578027.1).docx