What happens if the CFD is not formed?
The City and Headlands Reserve LLC entered into a Development Agreement in 2002 that states that both parties will cooperate in establishing a Community Facilities District for the purpose of financing the Headlands’ obligations to construct public facilities and public park and open space facilities in conjunction with the Headlands Development. Failure by the City to form the CFD will more than likely result in litigation initiated by the Headlands.
