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Developer and financial advisor outline Prairie Winds PID and plan of finance
Summary
Green Brick Partners and Hilltop Securities presented updates on the Prairie Winds master‑planned community and the plan to issue special assessment revenue bonds for Improvement Area #2; the developer reported community benefit fees and lot counts while the financial advisor gave estimated values and structure assumptions.
Austin Evitz of Green Brick Partners said Prairie Winds is a master‑planned residential community and provided phase details, amenities and current construction status.
"Prairie Winds is a residential master plan community, consists of just under 1,100 home sites," Evitz said, noting an amenity center, pool, playgrounds and several phases under construction. He told council that to date the community benefit fee paid to the city is $980,000 with an additional $670,000 expected at the next bond sale for Improvement Area #2.
Jim Sabonis of Hilltop Securities presented the plan of finance for issuing PID special assessment revenue bonds for improvement area #2. He summarized that the area represents about 192 lots and said the estimated built‑out taxable value is "about $79,000,000." Sabonis described a structure with a debt service reserve and capitalized interest and outlined the next steps — a preliminary service and assessment plan and a public hearing to set the assessment.
