By Anton Riecher
Improved market reception for revenue bonds to support infrastructure and amenities for phase two of the $6.7 million Haby Farms subdivision near Castroville indicates stronger investor confidence in Medina County subdivisions, financial advisors told Medina County commissioners Monday.
Jack McLiney of SAMCO Capital Markets said the latest bond sale netted much improved figures over the previous sale covering phase one in 2024.
“That reflects the perceived risk by investors in the market for Medina County PID (public improvement district) bonds,” McLiney said. “They are not seeing as much risk and that is reflected in our interest rate.”
In finance, municipal market data or MMD refers to a benchmark yield curve that represents the average yields of high-grade, AAA-rated municipal bonds across various maturities. While phase one Haby Farms PID bonds sold at 211 basis points over MMD, bonds for phase two sold at 143 basis points over MMD, McLiney said.
A Public Improvement District (PID) is a designated geographic area created by a city or county. Property owners in the subdivision pay a special assessment to fund roadways, landscaping, and parks that directly benefit their community.
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Better subdivision revenue bond market indicates confidence in Medina County
Medina County commissioners led by County Judge Keith Lutz, center, review a list of line item transfers during the commissioners court meeting Monday. (Photo by Anton Riecher.)
