[chuckinca]

I may be wrong but I think the bond is the impact fees charged by the local governments due to the construction inspections and facilities for the added population.

The infrastructure costs for roads, utilities etc in the new development is paid by the developer and passed on to the buyers - why would the local governments get into building development roads, sewers etc on private property (the developers property).


Normally, the developers are charged the impact fees up front by the local authorities in the building permit fees. In this case the developer of the Villages made a deal with the local governments that passed the building permit fees to the buyers. The villages developer doesn't have to put up the front money fees and the agencies can charge the buyers (maybe more than what a developer would have to pay)

Chuck
Construction Mgr