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Updated: Lost Rabbit URD bond to be issued

More boat slips could be added to the Lost Rabbit Marina in the future, once a new URD bond is issued and litigation is dismissed.

LOST RABBIT is officially an URD and not a PID.

The Lost Rabbit Urban Renewal District (URD) Board met Tuesday and voted to terminate the Public Improvement District (PID), and to issue a $5.2 million bond to save the ailing development.

The bonds could be validated by the end of the month, said Madison County Board Attorney Mike Espy.

The new URD bond will replace an $18.6 million bond issued by the Lost Rabbit PID and will pave the way for future growth at the subdivision and commercial “town center,” Espy said. 

Full text available to subscribers.

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