Frequently Asked Questions

1.     What is a CFD?

Answer – CFD stands for Community Facilities District.  In many growing areas across the State of Arizona, a special taxing district is formed (in this case, the Martin Valley CFD – formed in 2007) which enables a portion of the cost for infrastructure – such as, streets, water, sewer, flood control, drainage and similar development costs – to be financed through low-cost, tax-exempt bond financings.

2. How many homes are in the CFD?

Answer – There are approximately 343 existing single-family homes in the Martin Valley CFD district. (You are receiving this information because you live in one of the 343 homes) The developer, MV Coolidge LLC, owns approximately an additional 766 future homesites for single-family homes. 

3. Why are we trying to remove existing homes and existing homeowners from the current boundary of the Martin Valley CFD?

Answer - The existing Martin Valley CFD, in its founding documents in 2007, provides for the ability to finance infrastructure through the issuance of General Obligation bonds, known as “G.O. bonds” and other CFD-eligible financing. Under law, the tax burden of a G.O. bond is a “general obligation” and must be paid for by everyone within the CFD boundary – up to a maximum additional tax of $3.25/$100 of assessed valuation.  MV Coolidge LLC, the landowner that proposes to remain in the Martin Valley CFD boundaries, would like the ability to issue G.O. bonds in the future in a way that EXCLUDES any tax burden on the existing homeowners. 

 A “YES” vote removes the 343 existing homeowners from the CFD boundary and forever ELIMINATES this potential tax burden.

4. How does removing the CFDs benefit me?

Answer – The public infrastructure necessary for the existing homeowners has already been installed and paid for, in essence, when each homeowner bought their home.  There are two primary benefits from de-annexation from the current boundary of the Martin Valley CFD to existing homeowners:

• Existing homeowners currently pay an Operations & Maintenance (“O&M”) tax just to keep the Martin Valley CFD in place for future prospective use, and currently pay $0.30/$100 of valuation (typically $25-35 per tax bill).  A “YES” vote saves homeowners from paying this O&M tax ever again, providing a majority vote “YES”. 

• The founding documents of the Martin Valley CFD enables the prospective issuance of G.O. bonds – which could potentially burden existing homeowners up to an additional $3.25/$100 of assessed valuation – which could be an additional approximately $250-350 per tax bill, if such a financing were approved by the CFD Board.  A “YES” vote eliminates any risk that such a Martin Valley G.O. bond tax burden could be placed on the existing homes in the future.

5. Why would a developer create CFDs?

Answer – CFD tax-exempt financing is commonly used across Arizona to help offset the cost of installing expensive residential infrastructure, in order to make homebuying more affordable for future residents.

6. What happens If a developer doesn’t create CFDs?

Answer – The infrastructure cost that cannot be funded through CFD financing, therefore must be added to the ultimate price of the house and lowers affordability.

7. How does removing the CFD benefit the developer?

Answer – By removing the existing homeowners from the boundaries of the CFD district, the developer gains the ability to finance future infrastructure through G.O. bond or other special assessment financing that will be paid for ONLY by the future homes to be built that benefit from such infrastructure.  The developer does not think it is fair that current homeowners be asked to pay for costs for which they do not benefit directly.  A “YES” vote removes this risk to existing homeowners. 

8. How can you guarantee that my services will not be diminished if we remove ourselves from the CFD?

Answer – A CFD district public financing, like a G.O. bond, does not provide any water, sewer, police, fire, or other services – which are provided for or authorized by the Arizona Water Company, City of Coolidge and/or Pinal County, and maintained by them, as well.   A CFD bond issue only “finances” the initial cost and construction of this infrastructure, and therefore has no impact on existing utility and other services. 

9. Who can vote in this election?

Answer – The following people are allowed to participate in this election.

• Land Owner -or-

• Home Owner -or-

• Registered Voter who resides within the Martin Valley CFD boundary

Please see sample ballot below.

10. What if I am going to be out of town? Can I still vote?

Answer – It is our understanding that the City of Coolidge is not logistically able to provide “mail-in” or “absentee” ballots to all voters for this special election.  An individual who will be out-of-town and not able to vote -in-person should contact the City Clerk of the City of Coolidge to inquire if any special arrangements are available.

11. If I vote no to the removal of the CFD, will this prevent any future growth? Can I keep Coolidge the way it is by not supporting this?

Answer – The approximately 343 existing homes within the boundaries of the Martin Valley CFD, were built without any use of CFD financing – including the approximately 231 homes built in the past several years by public homebuilder, D.R. Horton.   A “NO” vote to de-annexation from the CFD boundary will force homeowners to continue to make the $0.30/$100 of assessed valuation O&M payment – but not prevent future home construction to complete the buildout of the remaining approximately 766 future homes to be built in community in coming years.