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Cottonwood developer previews final PID phase, plans for bond issuance
Summary
Menar Homes presented status of Cottonwood PID and upcoming request for issuance for improvement area #3 (phase 7). Council heard the developer’s sales and amenity updates and Hilltop summarized financing steps for the final issuance.
Ken Blaker of Menar Homes told council Cottonwood has nearly 979 home sites total with over 665 residents already living in completed phases and a current average sales price near $425,000.
"We have over 665 residents existing out here today," Blaker said, and described phases 5–7 and amenity centers that include pools, courts and trails. Hilltop recommended a three‑step financing approach — resolution calling for a public hearing on the preliminary service and assessment plan, approval of the offering document, then pricing the bonds. Council thanked developers and moved forward with scheduling required public hearings and documents.
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