HOUSTON – June 16, 2021 – Coats Rose attorney Tim Green represented the developer in a $6,500,000 Special Assessment Revenue Bond Issue (PID Assessment) to provide construction funding for a 322-lot single-family residential development in Red Oak, Texas.
In 2020, Green represented the developer in the creation of a 210-acre Public Improvement District (“PID”) for the purpose of funding certain public infrastructure to serve approximately a 655 lot development. The PID is being used by the City of Red Oak to provide up-front construction financing for the project. The $6,500,000 financing is for the first phase of development. The interest rate on the financing is 3.87% per annum.
Green specializes in public finance throughout Texas, including particularly the creation of special purpose districts to finance public infrastructure. He has been involved in the development of thousands of acres of land for residential and commercial purposes, and the issuance of over $15 billion of tax-exempt bonds for the financing of public infrastructure.
About Coats Rose, P.C.
Coats Rose is a transactional and litigation law firm focused on development: the development of real estate, special purpose districts, affordable housing, business and private wealth. We provide legal counsel to businesses, governmental entities, corporate and high-net worth clients across the U.S. and internationally. For over 30 years, the firm has leveraged its vast legal experience to fulfill clients’ needs spanning real estate law, public finance, affordable housing and community development, construction/surety law, commercial litigation, government relations, intellectual property, mergers and acquisitions, securities law, tax, wealth planning and preservation. In addition to its headquarters in Houston, Coats Rose has offices in Dallas, Austin, San Antonio, New Orleans and Cincinnati. Learn more at www.coatsrose.com.