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The debt is intended to pay for water, sewer, roads, security, transportation and recreational amenities, all of which would be the responsibility of the city w
by wolpoli 4y ago
The debt is intended to pay for water, sewer, roads, security, transportation and recreational amenities, all of which would be the responsibility of the city when it's fully built out. What the developers are doing make sense if the debt is financed for the term of the life of the infrastructure. The city will borrow again to build replacement after the original is paid off.
- landemva 4y ago> ... all of which would be the responsibility of the city ... I didn't read that in the article. I had thought the special district would continue to own and operate the infrastructure, while incorporating a town is a separate issue (if ever brought up).
- wolpoli 4y agoThat's a great point. I didn't realize that the US has these special districts that are distinct from the local government. I am only familiar with examples where the City is also responsible for the functions listed.
- someguydave 4y agoYep. To be clear in these metro districts the residents also pay full property tax to the city. So the city typically still collects taxes and provides few services to these areas, and the residents pay extra to provide their own infrastructure.