As well, besides the 2% annual increases, it looked like they can extend out these CFD payments beyond the scheduled termination date. I liked the fact once you paid it off it forever releases you of ALL CFD obligations.
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ER mentioned a very important point. With PUSD engaging in what can only be described as simply very creative financing, it is quite likely that they’ll try to extend CFD obligations when the sh#$%$ hits the fan in a few years.
So the owner pays off part of the MR. But then needs to sell in less than a year. The lot is a deficient lot due to the view of the substation in the backyard.
I would have simply spent some money to plant in some mature trees that would block off the substation view.
MR pay off is for folks that are done with all of the necessary home improvements and they are in for the long haul. It is not for everybody.
