Transaction Details

Par Amount:

$21,386,934

Interest Rate:

7.000%

Closing Date:

11/20/2025

Debt Structure:

Capital Appreciation Bonds

Pledged Revenue:

Proceeds from the sale of bonds from the Creedmoor municipal utility district

Use of Proceeds:

Reimbursement and funding for eligible public improvements

Willow Springs

Travis County

  • Willow Springs is a planned residential development approximately 15 miles south of Austin, TX. The 271-acre Development is located entirely within the Creedmoor MUD.
  • The Development is anticipated to include 1,026 single-family detached (“SFD”) residences, 240 multifamily units, and 2.5 acres of commercial development, which is currently planned for a daycare and self-storage facility.
  • Willow Springs is being developed by Cadence Development.
  • At the time of issuance:
    • 82% of the planned SFD lots were under contract to Ashton Woods, M/I Homes, and Starlight Homes, with 67% of those contracts closed;
    • $3.6mm of earnest money had been deposited into escrow with another $21.5mm in lot sale proceeds;
    • 36% of the planned SFD lots were finished;
    • 1% of the planned SFD residences were complete or under construction;
    • 43% of the total reimbursable budget had been spent to date.

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