Green Builders' New Sweden Development Secures New Wastewater Agreement by the City of Pflugerville
29 February 2008 - 12:00AM
PR Newswire (US)
AUSTIN, Texas, Feb. 28 /PRNewswire-FirstCall/ -- Green Builders,
Inc., the leading large-scale community developer of green,
sustainable homes in the Austin, Texas area, announced today that
it has successfully secured the Pflugerville City Council's vote on
a new wastewater service agreement that will affect the New Sweden
community being developed by Green Builders, Inc. The new agreement
will reduce utility bills for New Sweden homeowners, allow the city
to provide retail wastewater service and will replace the 973
Wastewater Company. The new wastewater service agreement with the
City of Pflugerville will require Green Builders to pay for a
minimum of 150 LUEs of sewer capacity per year at the city impact
fee of $2,414 per LUE, which equates to $362,100 per year. This is
the same impact fee the city charges all of its customers. In
addition, the developer will post a letter of credit for 300 LUEs,
or $724,200, until 750 LUEs have been paid over the next five
years. The letter of credit does not have to be posted until Green
Builders begins construction on the first phase of the New Sweden
MUD #1 development, which is planned for late 2008. "This is a
win-win situation for Green Builders and future home owners in the
New Sweden development," explains Clark Wilson, CEO and President
of Green Builders. "We're saving a significant amount of money with
this new agreement which we can pass directly onto the home owner."
This restructuring of the wastewater service agreements equates to
a savings of $3,594,000 for Green Builders, not including the cost
associated with the required letter of credit. Additionally,
because the city's retail service rate to the homeowner is
approximately $15 per month lower than the retail service rate
would have been, New Sweden homeowners will have a utility bill
savings of approximately $180 per year. The previous wastewater
service agreement between the 973 Wastewater Company and New Sweden
MUD #1 required Green Builders to pay for a minimum of 150 LUEs of
wastewater capacity per year at the rate of $4,810 per LUE, or
$721,500 per year. The developer would have also been required to
post a letter of credit for $3.9 million in March of this year that
would be in place for as long as 13 years. With the development of
New Sweden, Green Builders introduces the advent of the first large
scale community in the Central Texas area to feature all the green
elements of a low impact development, as well as organic
agriculture to create an all-inclusive environment where food is
cultivated, harvested and consumed all in one place. Green Builders
continues to add value to the communities it builds and is proud to
announce yet another significant enhancement to the economics of
this exciting upcoming project. About Green Builders, Inc. Green
Builders, Inc., a subsidiary of Wilson Holdings, Inc. (WIH)
combines the equal necessities of progress and preservation by
building homes that tread lightly on the earth. Our success is
measured by continued robust sales in a growing number of
sustainable communities, which we believe to be vital to a
sustainable planet. With respect for the world's resources and for
the needs of our clients, we create healthy, beautiful,
long-lasting homes that people, and the earth, can afford. To learn
more visit, http://www.greenbuildersinc.com/ About Wilson Holdings,
Inc. and Wilson Family Communities, Inc. Wilson Holdings, Inc.
(AMEX:WIH) is the parent company and sole stockholder of Wilson
Family Communities, Inc. dba Green Builders, Inc., an Austin,
Texas-based homebuilding and development company that acquires,
develops, manages and markets residential communities in the
Central Texas region. To learn more about Wilson Holdings, Inc.,
visit http://www.wilsonholdings.net/ Safe Harbor Statement Some
statements are "forward-looking statements," as defined in the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements relate to anticipated events, trends, or results and
generally include words such as could, can, anticipate, believe,
expect, seek, pursue, proposed, potential and similar words and
terms in connection with future results. These statements are
subject to risks. Many factors could cause actual results to differ
materially from those anticipated in forward-looking statements,
including factors described under "Risk Factors" in our Annual
Report on Form 10-KSB filed December 31, 2007. The Company assumes
no obligation to update or supplement such forward-looking
statements. DATASOURCE: Green Builders, Inc. CONTACT: Emily Thomson
of Green Builders, Inc., +1-512-583-4327, ; or Rachel Rogers of
Atomic PR, +1-310-689-7585, , for Green Builders, Inc. Web site:
http://www.greenbuildersinc.com/
http://www.wilsonfamilycommunities.com/
http://www.wilsonholdings.net/
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