Great Park Key Documents

Below are a variety of transparency documents and negotiating agreements related to the history and building of Great Park. Click each link below for more information.

Great Park Board Articles of Incorporation & Bylaws

For a list of Great Park Board Articles of Incorporation and Bylaws, visit the Great Park Board webpage here.

Community Facilities Districts (CFDs)

CFD No. 2013-3 (Great Park)

In 2013, Heritage Fields El Toro, LLC and the City of Irvine worked in partnership to form CFD 2013-3, which encompasses the Great Park and the Great Park Neighborhoods. The CFD is an important source of funding for the substantial costs involved in converting the former El Toro Marine Corps Air Station to a new community. CFDs are a common way for developers to raise funds for development and often involve selling bonds and using a special tax to repay those bonds over time.

The majority of the CFD funding is devoted to building specified backbone infrastructure – streets, traffic signals, bike lanes, sidewalks, utilities, sewer lines, storm drains, parks, and recreational trails – that residents use on a daily basis. Portions of the CFD funding have also been designated to assist with the development of Great Park, and to provide for ongoing maintenance costs for Great Park.

Will the CFD charge increase?

The CFD charge can increase by up to 2% per year, based on increases in property values, similar to property taxes.  Future bond sales that may be needed to raise funds for certain future public improvements in the Great Park Neighborhoods or the Great Park will not increase the charge. 

How long will the charge continue?

The CFD has two responsibilities: repaying the original bonds and providing funding to maintain the public improvements, including the Great Park. Once the original bonds are repaid, which typically takes 40 years, the charge that property owners pay will be reduced by between approximately 65% and 82%, with the remaining tax continuing in perpetuity to provide maintenance funding.

What has the CFD funded?

Each year the City issues a report showing the activity of the CFD, including how much money was collected, where it was spent and how much debt remains. The reports and additional information may be found here:

Great Park Monthly Development Report

Environmental Impact Reports

Financial Reports

2002

  • Measure W (March 5, 2002)
    Established the former MCAS El Toro site as a park, eliminated a regional airport as an approved land use.

2003

2005

  • Great Park Development Agreement (July 12, 2005)
    Agreement between the City of Irvine, Lennar Homes, and Heritage Fields El Toro LLC provided Lennar Homes with vested development rights in exchange for land dedicated to the City and infrastructure and financial obligations.

2006

2008

2010

2011

2013

2014