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Published on: 5/9/2007
Last Visited: 11/22/2007
Each fee would increase by about two percent annually, according to Jim Crowder, a vice president for finance and accounting for HHHunt.Fees also would be attached to other property in the community, he said.
Such a plan would permit Hunt to build the entire park; Wilton Parkway (to connect Osborne Turnpike with Route 5); and an interchange at the Pocahontas Parkway near the community prior to beginning construction on homes, Crowder said.And land owners always would have the option of paying off the entire amount owed at one time.Additionally, the sale prices of new homes in the community likely would be less than comparable homes in the region as a result of the assessments, he said.
Under Hunt's plan, by 2026 Henrico would realize $114 million in property taxes from the community - $42 million of which would be applied to pay off the bonds, Crowder said.