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Council advances Heritage PID bond process for Improvement Areas 3a and 3b
Summary
City financial advisor presented a plan to issue special assessment revenue bonds for Heritage PID phases 3a/3b (proposed ~$7.02M) and council approved calling a public hearing on the assessment rolls; the city emphasized the bonds are secured solely by assessments in the PID.
Dripping Springs council heard a plan of finance for a special assessment revenue bond issuance for the Heritage Public Improvement District (PID) covering proposed Improvement Areas 3a and 3b and voted to call the required public hearing to advance the financing.
Royce Ruppy, a MI Homes representative, summarized the developer’s progress at Heritage: phase 3 delivered this summer, roughly 263 homes closed across phases 1–3, and an amenity center and additional phases remain on the development schedule.
Hilltop Securit…
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