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Developers outline Public Infrastructure District for Logan's View to finance homes and amenities
Summary
An underwriter told Harrisville council that a proposed Public Infrastructure District (PID) for the Logan's View project would let developers issue tax‑exempt bonds to pay about $5–6 million in infrastructure costs, using a 5‑mill cap and assessment liens to fund parks, roads and utilities.
Sam Oliver, an underwriter with PA Davidson, presented the council with an overview of a proposed Public Infrastructure District (PID) tied to the Logan's View development during a work session. He said a PID is "a quasi governmental entity, the separate entity from the city that has the ability to issue tax exempt debt, to pay for public infrastructure and real estate development." Oliver told council the tool is designed to allow growth to pay for growth and not to roll debt onto the city's balance sheet.
Oliver described two common financing options. One is an additional mill levy on properties inside the…
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