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reflecting on the county. In Gainesville, a CDA helped build houses at Heritage Hunt. In Henrico County, a CDA helped finance the Short Pump Town Center.
To date they’ve been used to build everything from roads and bridges to street lights, parks and schools.
“The original thought for community development authorities was to do improvements to neighborhoods where they didn’t think general tax money would want to be spent,” Bossio explained. “In some areas there’s blight downtown, so they do CDAs, which means people might be more desirous of risking money down there.”
If approved, the CDA would then pay their debts off through two types of bonds:
92.0%