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What Do the Stetson Home Owners Want?

After I submitted petitions from about 100 property owners asking to begin a process to amend our the package of powers granted to the Beaumont Finance Authority (BFA) the city manager and former mayor made some comments about our request and then stated they believed they had resolved our concerns. I told them they had not addressed all our concerns. I told them we expected them to follow state law since we had followed the law in making our request.

They have added our issue on tomorrow night's agenda to consider for future action. After meeting with a number of Stetson property owners tonight I believe there is still much confusion. I'm not surprised. Mello-Roos are a complex subject. 

I posted what I hope is a simplified explanation of what we are seeking on the StetsonCFD.org website under the "Latest News" section. Click here to read it.

We think our requests are reasonable and benefit both the property owners of Stetson and the BFA.

The meeting starts at 6 pm. I hope to see a lot of my neighbors there as well as residents of other CFD areas to support what we are trying to do.

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Judy Bingham February 05, 2014 at 11:23 AM
So what is the next step Lloyd?
Lloyd White February 05, 2014 at 11:49 AM
Our request is not for a workshop, we are requesting something more. We want a proceeding to draw up language for a ballot to be mailed to the property owners and hold an election to amend our agreement with the Beaumont Finance Authority. This is something the Mello-Roos laws allow property owners the right to do. The letter is a response that will require a response from the Stetson property owners. I have expected all along this would be a slow process considering the City doesn't want every Improvement Area making the same request. Our CFD bonds were issued 10 years ago and are the oldest ones that haven't been refinanced. Our bonds have the highest interest rate of all the District's bonds. Ours are next to be refinanced, at least for now, I believe they are untouchable. Once I receive "The Letter" I will post a copy online and then we will prepare our response.
Libi Uremovic February 05, 2014 at 12:14 PM
i thought you were requesting the ballot AND a workshop so you could see how much money was in the bond fund account reserve....
Lloyd White February 05, 2014 at 12:25 PM
You can call it a workshop if you'd like but I've seen their workshops and they aren't helpful. I want a meeting with Stetson representatives and Beaumont representatives sitting around a table reviewing the agreement and the accounting to determine what we want to amend and how to word the ballot item. This is our goal. If the letter is the first response from the BTA, I am ok with that. At least the process has started.

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