[The Gazette]

Middleton CDD B votes Thursday on special assessments backing $20 million in bonds for roads and drainage serving 682 future homes.

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[Sparky99]

Divided by 682 homes will be expensive.

[Bill14564]

Originally Posted by Sparky99

Divided by 682 homes will be expensive.

$20M/682homes=$29,325/home. The article lists yearly payment amounts of $1,500 to $4,500 per home. By comparison, the $20K bond that came with my home in 2014 had a yearly payment of about $1,500.

[Altavia]

"... to about $4,470 for the largest (D Series)."

Is that a $147,300 bond?

Smallest bond is $47K?

[Bill14564]

Originally Posted by Altavia

"... to about $4,470 for the largest (D Series)."

Is that a $147,300 bond?

Smallest bond is $47K?

My payment was just under $1,500 for a $21K bond at 5%.
The article doesn't mention an interest rate but District 16 bonds from last year were at 5% so maybe that's a good number.
Without getting out my financial calculator or remembering the equation, tripling the payment ($1,500 -> $4,500) would mean something close to tripling the principal from $20K to $60K.
A $59K bond in District 16 at 5% has a payment of $4,000.

[Altavia]

Originally Posted by Bill14564

My payment was just under $1,500 for a $21K bond at 5%.
The article doesn't mention an interest rate but District 16 bonds from last year were at 5% so maybe that's a good number.
Without getting out my financial calculator or remembering the equation, tripling the payment ($1,500 -> $4,500) would mean something close to tripling the principal from $20K to $60K.
A $59K bond in District 16 at 5% has a payment of $4,000.

Thought I saw 7% mentioned?

[Bill14564]

Originally Posted by Altavia

Thought I saw 7% mentioned?

Yep. I saw it the first time, couldn't find it the second, and now found it again.

The report assumes a 7.5% interest rate and a 30-year term,

A higher interest rate makes the principal lower for the same annual payment amount.

[Howdy]

I took a curious trip to the Eastport & Middlton area 2 weeks ago & my observation of whole area is nothing short of fabulous.

The School, & adjoining Sport Facilities is nothing short of outstanding.

The Villages sales area is incredible. Especially the Lake & Restaurants that are there, in a word Wow. I can see why individuals would be attracted to live there.

But ________At what cost? The $64.00 question.

Me? I am staying put in the Pennecamp area.

[Stu from NYC]

Originally Posted by Howdy

I took a curious trip to the Eastport & Middlton area 2 weeks ago & my observation of whole area is nothing short of fabulous.

The School, & adjoining Sport Facilities is nothing short of outstanding.

The Villages sales area is incredible. Especially the Lake & Restaurants that are there, in a word Wow. I can see why individuals would be attracted to live there.

But ________At what cost? The $64.00 question.

Me? I am staying put in the Pennecamp area.

So unlike the rest of the Villages but they did a great job planning the area