Proceeds from the sale of bonds from La Cima Municipal Management District No. 1
Use of Proceeds:
Reimbursement and funding of eligible public improvements
La Cima
Hays County
La Cima is a 342-acre primarily residential development located 38 miles southwest of downtown Austin in San Marcos, TX.
The project is being developed by Bryan Lee, with Natural Development Austin serving as fee project manager.
At full build out, the project is anticipated to include 524 single-family detached homes. The project is part of the La Cima master-plan, which is anticipated to include 3,100 residential units, 980 multi-family units, 300-acres of commercial or retail, a 45-acre park, a recreation center, 10+miles of walking trails, and an elementary school.
At the time of issuance:
32% of the lots were finished.
63% of lots were sold or under contract with third-party homebuilders.
35% of the reimbursable budget had been spent with $16M of reimbursable costs currently outstanding to the Developer.
