EC West metro districts present plan for special improvement districts to finance internal streets and storm infrastructure

Representatives for the EC West metropolitan districts presented information to the Elbert County Board of County Commissioners on June 11 about forming special improvement districts (SIDs) to finance local streets, storm sewer, and related in‑tract improvements for a large residential development.

Paula Williams, counsel for the EC West districts, said the districts were formed in 2024 and their approved service plans allow the metropolitan districts to create SIDs with written county consent. The EC West area covers roughly 1,464 acres near County Road 29 and County Road 176 and may include up to 2,850 dwelling units; staff estimated public-improvement costs for the development at approximately $376,375,898.

Williams and financial and engineering consultants described how SIDs operate: the metropolitan district issues assessment bonds for improvements that are repaid by assessments only on the lots that benefit from the improvements; assessment liens must be satisfied before a certificate of occupancy is issued for each home, meaning homeowners will not move in with outstanding SID liens tied to their lots. The presentation said the SID financing can provide lower, tax‑exempt borrowing costs compared with private financing and can be repaid rapidly as lots are sold and liens are cleared.

Independent District Engineering Services (Michael Wolfesberger) described likely improvements funded by SIDs as local streets, storm sewer, and possibly earthwork; Piper Sandler (underwriter Jonathan Heroux) outlined a sample financing structure showing accelerated repayment as lots are sold. EC West representatives said that once SID bonds are repaid the SID can be dissolved and the metropolitan district would remain to own and maintain the infrastructure.

Commissioners asked about homeowner cost impacts, timing, and whether SIDs can incur additional debt after bonds are repaid. Consultants explained that SID assessments are sized by finished-lot value and recorded as liens that are cleared prior to a certificate of occupancy; developers typically sell lots to builders, who clear liens as part of lot acquisition. Staff also clarified that, after construction, internal roads and stormwater facilities are intended to be owned and maintained by the metropolitan districts rather than dedicated immediately to the county. The board did not take action and no county consent vote was required at the meeting; staff said the districts would return with formal requests when county consent is formally sought.