Coats Rose Represents Residential Developer in Creation of PID and Sale of Special Assessment Revenue Bonds

Timothy G. GreenMelinda KoehneCoats Rose Attorneys, Directors Timothy Green and Mindy Koehne, previously represented the developer in the creation of the Ponder Public Improvement District No. 1, and in October 2017 represented the same regarding the sale of $3.54 million Special Assessment Revenue Bonds, Series 2017 (Ponder Public Improvement District No. 1) issued by the Town of Ponder, Texas.  Proceeds from the sale reimbursed the developer for water, sanitary sewer, drainage and road facilities serving an approximately 278 lot single family residential development located in Denton County, Texas.

“We are seeing more and more Central Texas cities and developers opt to utilize “PID financing” as the current tool for financing public infrastructure for both residential and commercial development,“ said Tim Green.  “Such financing includes (i) bare-land/up-front PID financing, (ii) bonds secured by PID assessments to reimburse the developer, and (iii) cash-flow PID reimbursements to the developer.”

“We expect this trend to expand across the State,” Green noted.

Tim Green specializes in public finance throughout Texas, including particularly the creation of special purpose districts. He has been involved in the development of thousands of acres of land for residential and commercial purposes, and the issuance of over $8.5 billion of tax-exempt bonds for the financing of public infrastructure.

Mindy Koehne is a Director in the firm’s Dallas office. Mindy’s work is concentrated primarily in the real estate development and public finance areas. Her representation involves the creation and administration of special purpose districts located throughout Texas and the issuance of tax-exempt bonds to fund public infrastructure. The majority of Mindy’s practice involves the representation of real estate developers who engage in both commercial and residential development.

About Coats Rose, P.C.

Coats Rose is a business transaction and litigation law firm based in Houston. For more than 30 years, the firm has leveraged its vast legal experience to fulfill clients’ needs in numerous transactions and controversies, spanning real estate law, affordable housing and community development, public finance, commercial litigation, construction/surety law, insurance law, intellectual property, government relations, labor and employment law, mergers and acquisitions, securities law, tax, wealth planning and preservation, and health care. Coats Rose also has offices in Dallas, Austin, San Antonio, New Orleans and Cincinnati. Learn more at www.coatsrose.com.

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