Community Updates

  1. SEPT./OCT. 2022
  2. AUG. 2022
  3. PARKING CLOSURES
  4. JUL. 2022
  5. MAY/JUN. 2022
  6. APR. 2022
  7. MAR. 2022
  8. FEB. 2022
  9. Jan. 2022
  10. Dec. 2021
  11. Oct./Nov. 2021
  12. Sept. 2021
  13. Aug. 2021
  14. Jul. 2021
  15. Jun. 2021
  16. May 2021
  17. Apr. 2021
  18. Mar. 2021
  19. Jan./Feb. 2021
  20. Dec. 2020
  21. Nov. 2020
  22. Oct. 2020
  23. Sept. 2020

FAIR OAKS RECREATION & PARK DISTRICT RECEIVES AN AA- CREDIT RATING FOR THE SALE OF THEIR MEASURE J BONDS

Measure J was a first ever General Obligation Bond Measure that was passed by the Voters of Fair Oaks in November 2018 for $26.9 million dollars to do Park renovations and improvements.

To sell the Bonds, the Fair Oaks Recreation & Park District (FORPD) needed to obtain a Bond Rating, which is very similar to a credit score.  FORPD sought a Bond Rating from Standard & Poor’s (S&P) which is the oldest credit ranking agency and one of the three Nationally Recognized Statistical Rating Organizations accredited by the U.S. Securities and Exchange Commission.  The company covers more than one million credit ratings on government and corporate bonds, structured finance entities, and securities.  

Bond ratings are representations of the creditworthiness of government bonds.  The rating is published by S&P and provide evaluations of FORPD’s financial strength and capacity to repay the bond’s principal and interest.

This October, S&P Global Ratings assigned it’s “AA-“ long-term rating to Fair Oaks Recreation & Park District for the third and final issuance of Bonds from the 2018 Measure J General Obligation Bond.

An AA- rating is given to entities that have a very high capacity to repay their loans due to their financial position and attitude towards repaying debt.  FORPD’S Board of Directors currently led by Chairman Raymond James Irwin, Vice Chair Darren Mounts, Director Ralph Carhart, Director Delinda Tamagni, and Director John O’Farrell have practiced sound financial management that has created the opportunity to receive such a high credit rating.  The AA- rating is estimated to save the taxpayers of Fair Oaks $900,000.

S&P says this about FORPD:

    Very diverse tax base in Sacramento region with very strong incomes and extremely strong property wealth indicators.

    Record of maintaining strong to very strong available general fund reserves.

    Strong financial position that is supported by predictable tax revenues.

    The stable outlook reflects our (S&P) expectation of continued balanced operational results, despite rising expenditures over the next few fiscal years.

10/3/2022 VILLAGE PARK CONSTRUCTION update

Bobo Construction continues to work throughout the project site at Village Park; currently, they are working to backfill the parking areas along Temescal Street and Park Drive in order to re-pave those areas. Soon, they will be pouring concrete for curbs and gutters throughout those areas before paving the parking stalls themselves. Once those are done, the parking areas will once again be open for public use while Bobo continues other portions of the project. Parking will still remain restricted as they move on to other areas surrounding the site to perform work on other parking stalls, though the District is exploring other avenues in the village in order to widen the breadth of options for public parking during  construction. 

The foundation for the new Amphitheater building is progressing smoothly. Compaction is complete and the layout for utilities and footings have been lined out and prepared. 

Meanwhile, trenching for utility lines is being performed throughout the site, as well as rebar installation in several key retaining wall and ramp areas. Construction on the ADA ramp to the Clubhouse entrance has been paused in order to enact a federally required NEPA study as part of the ~$500k grant the District is receiving through Congressman Ami Bera’s office. 

We’ll soon be moving into the rainy season, so expect delays as the site becomes unworkable due to standing (or falling) water. The District still expects to remain on schedule despite these eventual slow-downs. 

  1. Administration

    Physical Address
    4150 Temescal Street
    Fair Oaks, CA 95628

    Phone: 916-966-1036
    Fax: 916-966-9863