Mello-Roos District OKd for New School
A special tax district will finance the construction of an elementary school in the Olinda Heights area, the City Council decided this week.
The school, tentatively set to open in spring 1999, will serve the 284-acre, 648-home development north of Carbon Canyon Road and east of Valencia Avenue.
The council approved the formation of a Mello-Roos tax district, which will raise about $6.5 million for the school in the form of bonds. The bonds will be paid back by future Olinda Heights homeowners.
The yearly payments, 1.7% of a home’s assessed value, will range from $720 a year to $1,425 a year, according to city documents.
Under Brea Olinda Unified School District plans, the school “core” and about half the classrooms will be built first to accommodate about 300 students. As more people move into Olinda Heights, more classrooms will be added to serve about 600 students.
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