Mello-Roos

Definition

A unique form of financing used by cities, counties, and other similar districts in order to fund large-scale products in that district such as the construction of schools or roads. In order to be able to use this kind of financing, the voters in the district must approve the formation of a Mello-Roos district by a vote (two-thirds must be in favor of the decision). Once the district has decided to become a Mello-Roos district, the money spent to finance one of these projects is repaid by the voters through taxes. This is officially called the Community Facilities District Act, but is commonly called Mello-Roos due to Senator Mello and assemblyman Roos who co-authored the act.

Use Mello-Roos in a sentence

You may want to see if you can get in on any mello-roos financing that might be given out in the future.

​ Was this Helpful? YES  NO 4 people found this helpful.

I was interested in mello-roos and I took a course that talked about its purpose and how it applied to me.

​ Was this Helpful? YES  NO 4 people found this helpful.

At the meeting, they had a vote to determine if the city would become a Mello-Roos district. It was a big decision, and everyone was interested in the outcome.

​ Was this Helpful? YES  NO 3 people found this helpful.

Show more usage examples...

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Megan's Law melt up