Mayor And Council

Bond Sale Saves Homeowners $2 Million

Bond Refinancing Saves Henderson Homeowners Almost $2 Million

 

Maderia_CanyonHomeowners in Anthem and Madeira Canyon will see a savings of nearly $2 million following a recent bond sale by the City of Henderson that was used to refinance the local improvement districts for those communities. Local improvement districts were used by developers to fund construction of streets, streetlights and water infrastructure within Anthem and Madeira Canyon. Homeowners repay the cost of the infrastructure over time through a monthly property assessment based on each home’s value.Anthem

By refinancing these two local improvement districts at a lower interest rate, 3,293 Anthem home assessments will be reduced by about $350 and 1,369 Madeira Canyon home assessments will be lowered by about $1,300 by the time the bonds for each project mature. The total savings for all homeowners will equal $1.978 million in today’s dollars, with $990,017 of the reduction being seen by Anthem residents and $988,053 in savings being seen by Madeira Canyon residents.