Posted by: Todd Long | November 12, 2008

Langtree at the Lake working to achieve $46 million dollar county bond

The Iredell County Commissioners meet this week to discuss rpassing a resolution towards a $46 million tax payer bond to fund public infrastructure to the Langtree at the Lake development. The resolution seems to outline the parameters of the bond but is not the bond it self. If this becomes a bond, down the road, the county would recoup the money to pay back the bond through a special tax district encompassing the Langtree Development.
This is something that has never been done in North Carolina it seems. The commissioners seem to thing there are a lot of questions left unanswered as to how this will play out in the end and are being prudently cautions in my opinion. The Gatton Report has written a great article in relation to this developing story.
I personally hope the Langtree project is a huge success. It will certainly be a feather in the cap of Iredell County as a very progressive lake front community.

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