May 2009 - Community Facilities District (CFD) Paves Way for Infrastructure Improvements at Airpark 599

On May 5, 2009, the County of San Joaquin Board of Supervisors approved the establishment of the Community Facilities District (CFD) Number 2009-1 (Airpark 599). The district was formed as a means for the County to finance a portion of the infrastructure improvements at Airpark 599 including roadway and transportation improvements, landscaping improvements and parks, storm drainage facilities, domestic water connections and any other qualifying costs. Once a critical mass of vertical development has been completed, the County will issue bonds supported by the levy of special taxes that would reimburse infrastructure improvements. This would enable further investment in infrastructure throughout the remainder of the park.

The district formation was a major milestone for Catellus and the County. This financing mechanism will enable the completion of first class infrastructure improvements at Airpark 599 including the central detention basin and related amenities such as walking trails and open space. The park will benefit from exceptional landscape design and roadway networks providing the park's occupants with a best in class business park environment.