The WRTP Public Facilities Financing Plan (“Financing Plan”) completed in July 2023, outlines a strategy to fund public facilities and project infrastructure through Plan Area buildout. The Financing Plan identifies an estimated $255.5 million in public improvements needed to implement the Specific Plan and describes the proposed funding mechanisms to complete required improvements.
A WRTP Capital Improvement Program (“CIP”) prepared for the project, identifies approximately $156.9 million in backbone infrastructure cost obligation for parks, streets, storm drainage, water and sewer improvements. Completion of backbone infrastructure and other public facilities will be phased to serve logical increments of development, based on the demand for such facilities as the WRTP builds out. The timing and amount of development in each increment will depend on many factors, such as market demand.
Additionally, the WRTP will have an obligation to contribute to the construction of other infrastructure and public facilities not included in the CIP. For these public improvements, the developers will pay applicable City, County and WJUSD development impact fees. The cost obligation for these facilities is estimated at approximately $98.6 million for parks and open space, schools, libraries, fire, police, general government, public transit, affordable housing, habitat and agricultural mitigation and County facilities.
The developers of the WRTP will be responsible for advance funding and constructing all of the backbone infrastructure and public facilities needed to serve the WRTP, unless the City and WRTP proponents agree otherwise to City construction of specific improvements. The project includes the adoption of a new Plan Area development impact fee program, the Woodland Research and Technology Park Infrastructure Fee Program (“RTIF Program”) to fund backbone infrastructure and public facilities as described above to accommodate new residents and employees of the project area that are not funded by existing fee programs or other funding sources. Facilities included in the RTIF Program include those facilities with plan-wide benefits (i.e., serve multiple individual subdivisions), the costs of which should be distributed among RTIF land uses and ownership interests. Additionally, the financing strategy includes formation of one or more land secured bond financing districts (e.g., Mello-Roos CFD or Assessment District), which may be used to fund a portion of the total backbone infrastructure and public facilities needed at the outset of development.
[Updated July 2023]