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Developers, financial advisor present Phase 2 finance plan for Heritage PID; council calls public hearing

City Council of Dripping Springs · August 21, 2024

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Summary

MI Homes and Hilltop Securities presented Phase 2 of the Heritage Public Improvement District: $6.873M fixed assessment for Phase 2, anticipated average homeowner payment of about $3,600 beginning 2026, and council approved resolutions calling a Sept. 17 hearing and authorizing distribution of bond offering documents.

Representatives from MI Homes and Hilltop Securities outlined Phase 2 of the Heritage Public Improvement District and a preliminary plan of finance for special assessment bonds.

Royce Rippee of MI Homes reviewed project phasing and sales activity and said construction and vertical building are underway. Andre Iello…

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