City of Indio

 
 
 
 
 
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THIS INCLUDES THE FULL SERIES Of DOCUMENTs USED TO PASS A $60MM BOND OFFERING. IT IS FORMED AS A DISTRICT AND WITH 2 IMPROVEMENT AREAS.
SUNCAL petitioned to speed up offering and clears $110,000 per lot. 635 lots. The developers basis was less than $40,000 per lot.

This is greed at the peak of the market. City and developer wanted it so bad. Details obtained are disturbing to say the least.

Now tax is 1.6% for CFD. Not to count the 1.25% from the usual taxes. This really is taxation without representation since $6mm went to area 2 not taxed but benefited from backbone structures.

It is a topic that we all should learn from. Details are disturbing.

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01/17/2009
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