Mandalay Bay, outlined in purple above, was constructed between 1968 and 1973. It is comprised of 743 single-family attached and detached homes, 37 City-owned greenbelts, and approximately 7 miles of public waterways. It was the first waterways development north of the Channel Islands bridge. At the time of construction, seawalls were built to create waterways throughout the newly built homes. Mandalay Bay Waterways Zone 1 Assessment District was created at the inception of the development for the maintenance of landscaping and waterways throughout the community.

When the seawalls were constructed in the mid-1960s, developers built the seawalls according to the building codes at that time, which were inferior to today’s building codes regarding seismic activity and soil and structure responses. The materials used to construct the seawalls have adversely reacted to the marine environment and began to degrade within 20 years of completion.

City staff, NBS Government Finance Group (NBS), NHA Advisors, and residents from the Channel Islands Waterfront Homeowner’s Association (CIWHA) have been meeting over the past several years to discuss the formation of a bonded Community Facilities District ("CFD") to satisfy the obligations of paying for the replacement of the seawalls.