Providing Affordable Housing & Stable Funding
The City of Fontana, like many other growing communities, depends on Mello-Roos Community Facilities Districts (CFDs) to provide premium, affordable housing and stable funding for on-going maintenance.
Paying for Necessary Infrastructure
New development requires infrastructure like streets, sewers, and storm drains. Local governments require developers to put in the necessary infrastructure, which the developer then adds to the price of each new home. The homebuyer pays more for the home, resulting in a higher mortgage.
Many developers opt for establishing a CFD so they can sell the homes at a lower price. The cost is then passed on to the homeowner in the form of annual special taxes.
CFDs Mean Lower Mortgage Payments
Without the CFD, the homebuyer would probably pay more for the home resulting in a higher mortgage payment and higher property taxes on the increased cost of the home.