Land Secured Development Bonds
Weist Law works with land owners and developers to issue a variety of land secured bonds ("LSDBs"), including Mello-Roos Community Facility District Bonds, and Assessment District Bonds to finance public infrastructure improvement projects (as well as impact fees) secured by residential and commercial real estate.
LSDBs are used to finance public infrastructure components of new residential and commercial projects. A real estate developer usually seeks financing of public improvements such as streets, curbs, gutters parks, sewer, drainage, schools or related impact fees. Weist Law can assist with creating a community facilities district or an assessment district in order to levy taxes or assessments on individual land parcels and issue the LSDBs. The LSBDs are secured by a pledge of the taxes or assessments, with the lien and payment obligation automatically passing to new property owners with the change of title.
The advantage of issuing LSBDs include leveraging the tax-exempt interest rates offered by the municipal bond market, long term fixed-rate financing, and the non-recourse nature of the bonds.
If you are interested in learning more about this program and how we could assist you, please feel free to schedule a free consultation with our team by clicking here.
The foregoing has been prepared for the general information of clients and friends of the firm. It is not meant to provide legal advice with respect to any specific matter and should not be acted upon without professional counsel. If you have any questions or require any further information regarding these or other related matters, please contact a designated Weist Law representative. This material may be considered advertising under certain rules of professional conduct.