Perhaps the most difficult challenge is finding the money to build new schools. Municipalities often encourage new home building, figuring more homes will provide more property taxes to support services, including schools. But before property taxes kick in, school districts usually ask voters for money. Towns also ask developers to ante up. This fee is generally passed on to the home buyer.
Fees can add up.
Developers are also often required by the towns to donate land for schools. But developers usually like the idea of giving land for a new school that will be built within their development. Centex Homes , Schaumburg, donated the land for the new Nature Ridge Elementary School in Bartlett. The school, opening this fall with 450 students, is located in the company's Westridge subdivision, which has about 636 homes. The school is a nice selling point.