The Statewide Community Infrastructure Program (SCIP) sounds like another name for 30-year Mello-Roos-type bonds whose proceeds are used to pay for things that governments or home builders used to cover.
Here is their intro:
The Mello-Roos at this Carmel Valley new tract is $2,932.90 per year, plus the Statewide Communities Infrastructure Program requires another $4,300 per year (total = $7,232.90 or about $603 per month):
Jim, that is the dumbest set of home layouts I’ve seen! Stupid use of space — you have to agree. And the $ doesn’t even pencil! The MR plus that bond PLUS property tax? Insane.
Their research on the demographics must have resulted in them thinking that multi-gen buyers are the answer. It would take 6-12 people living in these homes to make sense – 3 to 5 people would get lost.
They did research, didn’t they?
I couldn’t agree more, terrible floor plans. For a 1.7m house, there’s about $27,000 in property tax and fees every year. I would not be able to afford it even if they gave it to me for free!
Why pay close to $2 million to live in CV when you can get a better designed home with a yuuuuge backyard and great view for $1 million in Clairemont?
I was out in PHR a few weeks ago, and I was surprised by how many different developments Pardee has going at the same time! I guess they think the market is pretty big!