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Southern Land pitches Infrastructure Development Districts for Nolensville; commissioners press for protections
Summary
At the Jan. 29 Nolensville work session, Southern Land Company explained how newly authorized infrastructure development districts (IDDs) can finance upfront infrastructure through bonds and property assessments; commissioners raised questions about homeowner assessments, loss of impact fees and legal uncertainty and asked for more education before any application is considered.
Ron Scribe of Southern Land Company told the Nolensville Board of Commissioners on Jan. 29 that infrastructure development districts, or IDDs, are a financing tool that can allow developers to fund infrastructure up front rather than relying on the town's bonding capacity. “It allows developers to fund the infrastructure upfront and excess cash capital to build necessary infrastructure,” Scribe said.
Scribe and his colleagues described two common bond structures — construction bonds (money held in trust for pay‑as‑built drawdowns) and reimbursement bonds (where infrastructure is built first and bonds reimburse the developer). A developer representative said the money would typically sit in a trustee account to…
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