Council approves first reading for up to $23 million in Rosslyn improvement-district bonds

Lancaster County Council approved first reading of ordinance 20 26 20 47 authorizing up to $23 million in revenue bonds for the Rosslyn Residential Improvement District to reimburse a developer for completed public infrastructure.

Bond counsel Michael Season told the council the Rosslyn district previously received a first tranche of $15 million in bonds in 2025 and that the developer (identified in the record as Lennar Carolinas) has requested a second and final tranche. "These bonds are revenue bonds, so they are not payable from general taxes," Season said, adding that assessments on properties inside the improvement district fund repayment.

Season said roughly $17.5 million of the requested $23 million would be used to purchase infrastructure already installed by the developer, and that the developer has represented completing substantially more than the amounts listed in the agenda summary. He also noted that state law requires a fee equal to 4% of principal when bonds are issued; on a full $23 million issue that fee would be about $920,000 and would be paid to the county shortly after closing.

A developer representative provided an update on sales and construction progress within the subdivision, reporting hundreds of homes sold or under construction and an amenity building under construction.

Council voted to advance the ordinance by roll call; recorded votes were in favor by those present and one member was absent at the time of the vote.