Action on PID-related bond delayed while officials seek absent commissioner
Officials delayed action on using a property-improvement bond that would attach to future lot purchases after one commissioner could not be reached; staff said the bond would apply to buyers in the new development and would not affect the two earlier-developed areas unless they chose the PID route.
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Staff member (S1) explained the financing option under consideration and how it would affect future buyers: “So they'll be paying the same taxes as it as the other 2 developers on undeveloped property,” S1 said, adding that the proposal creates a bond on personal property that a purchaser would assume when buying a lot in the development.
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