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McLendon-Chisholm hears PID overview as developer details 672‑lot Sonoma Verde project
Summary
City advisers and consultants outlined how public improvement districts (PIDs) work and described a specific development — Sonoma Verde North & East — planned for about 314 acres and 672 lots; council and staff discussed timing, risk, homeowner protections and next steps for a possible bond sale in early 2026.
McLendon-Chisholm city officials on Oct. 27 heard a detailed presentation on public improvement districts, or PIDs, from P3 Works LLC and the city’s financial adviser, followed by questions about a proposed development called Sonoma Verde North & East.
Jordan Sawyer, regional director for P3 Works, told the council PIDs are authorized under Texas Local Government Code chapter 372 and allow a city to levy assessments in a defined area to fund public infrastructure so that "growth pays for growth." Jason Hughes of Hilltop Securities described the typical financing options: pay‑as‑you‑go assessments, reimbursement bonds after infrastructure is built, or upfront "bare‑dirt" bonds sold before construction. Both presenters stressed PIDs are generally nonrecourse to the city…
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