Special District Group

Highlighted Transactions

 

Transaction Details

Par: $73,000,000

Debt Structure: Series 2021A-1 Current Interest Bond and Series 2021A-2 Convertible Capital Appreciation Bond on parity with one another. Combined debt service coverage expected of 1.3x-1.4x.

Pledged Revenue: Property tax increment, sales tax increment, and Public Infrastructure District limited mill levy are expected to be pledged to the Bonds at the time of sale.

Use of Proceeds: Public infrastructure improvements including roads, open space, water and sewage.

Deal team

Golf Academy & Equestrian Center Public Infrastructure District

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PROJECT DESCRIPTION

  • Golf Academy & Equestrian Center Public Infrastructure District is a residential and commercial development approximately 42 miles south east of Salt Lake City International Airport in Heber City, Wasatch County, Utah.
  • SkyRidge, a real-estate development company based out of Park City, Utah is the developer.
  • Residential development of 476 residential units (single family detached homes and condominiums) has already commenced. All residential development is expected to be fully built-out over the next 15-20 years.
  • Residential non tax-exempt development of 60 Condos is estimated to commence in 2025 and be fully built out within the same year.
  • The commercial development is estimated to commence in 2023 and be fully built out by 2025. The commercial development is expected to consist of a golf academy, equestrian center, clubhouse and hotel/lodge.

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