Recent economic development stories

State lawmakers this session may consider giving subdivision developers certain quasi-governmental powers, such as the right to tax homeowners to pay for roads, schools, pools, golf courses and other projects.

Two bills creating such projects, or "improvement districts," were proposed during last year's General Assembly, but both stalled before they could win final approval.

Proponents believe such measures will encourage development in rural areas, while critics worry about stoking sprawl and giving public powers to private developers.

In short, such laws would allow developers to raise money to build their neighborhoods from Wall Street, rather than borrowing the money from a bank.

Developers could issue and sell tax-free bonds based on the value of the taxes they will be able to collect from homeowners.

Developers could in turn use the money to build roads, sewers and amenities for their projects like clubhouses and swimming pools. Developers would also have the authority to collect taxes from homeowners and pay the bonds off over a number of years.

Florida has allowed neighborhood improvement districts since 1980, and more than 360 neighborhoods have been built there using them.

But a 2005 study showed many of those neighborhoods were built in suburban areas around cities like Tampa and Orlando, rather than rural communities.

-- Walter Woods