Quote:
Originally Posted by pauld315
So, is the bond roughly calculated by dividing the 292 million by 6600 ?
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The calculation is a LOT more complicated than that and the number used (for the residential bonds) will change considerably as the area designs become more certain.
For example any infrastructure costs that may be included in the total 292 number for any commercial or governmental areas would come out.
Also if they hold true-to-form the amenities will be owned by the development company and the infrastructure costs for these would also be removed from the 292.
For right now what is being used is the total cost for the infrastructure for the entire area with no segregation of the monies into the different pots.
Two other factors to be considered when looking at the costs. The first being the size of the area, CDD-10 and CDD-13 are looking to have a nearly equal number of homes (6600+/-) but CDD-13 would have about 1000 acres more property that infrastructure will be being built for, these costs have to be included. The second is time, these numbers project out to 2022, one cannot do an apples-to-apples comparison of the dollar amount without calculating in the rising costs involved and inflation. The work to build an area will cost substantially more today. If you dig into the bonds for the various districts you will see about a 4% rise per year per acre development bond cost increase. This new number appears consistent with that increase.
Yes, the bond will be more in the new areas than in areas that were built 5, 10, and 15 years ago, just as the home and everything else back then cost less. The bond is irreverent in the initial cost of the home, you will have to pay these costs either in the CDD bond or it will be rolled into the cost of the home like it is in nearly every other development in the country.
A better benchmark, for now, would probably be to look a the bonds in Fenney, and add about 20% for the 5 years difference and you'll come up with close numbers.