The San Marcos Unified School District on Tuesday will hold a public hearing to consider forming a $10 million community funding district for the Discovery Village housing project.
The funding will cover additional school facilities needed by the new neighborhood, which will include 220 homes on 37 acres east of Craven Road and north of Myrtle Avenue in San Marcos, according to Rachel Chang-Kwei, a consultant to the school district.
The community facilities district will be one of 11 such districts the school district has formed to help pay for school facilities, and one of nine that are currently active, said Mark Schiele, Assistant Superintendent for Business Services. It will finance bonds of up to $10 million toward school infrastructure, but the total amount will depend on the final assessments on the homes, he said.
