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Traviso developer asks Leander to lift utility district bond cap, citing inflation and annexations
Summary
Taylor Morrison/Toll Brothers representatives told Leander City Council they have exceeded a $220 million bond cap for in‑city municipal utility districts and asked council to allow additional bond capacity or remove the cap so infrastructure costs from annexation and inflation can be reimbursed.
Good evening. Representatives for the Traviso development told the Leander City Council on Sept. 18 that they want the city to allow more bond capacity for the Travis Municipal Utility Districts that serve the large Treviso neighborhood. Mark Berman, vice president of Traviso Limited (a Taylor Morrison/Toll Brothers partnership), said the project has added acreage and rising construction costs that make the existing $220,000,000 bond cap insufficient.
Berman and counsel Trey Larry explained that the MUDs (municipal utility districts) finance infrastructure—streets, water, sewer and drainage—then the developer is reimbursed through bond sales approved by the Texas Commission on Environmental Quality as tax value appears. Berman said Traviso has…
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