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Originally Posted by ladykathleen
In essence, the bill requires that:
- A Disclosure notice be given to purchasers of property in a CDD,
- The notice be on a separate sheet of paper,
- The name of the CDD be disclosed,
- Disclose that taxes or assessments can set annually by the CDD,
- These may be in addition to other taxes and assessments,
- The covenants and restrictions be disclosed,
- The additional taxes and assessments with 10 years be disclosed,
- A reasonable estimate of first 3 years of taxes and assessments be given,
- The disclosure be given within 10 days of the date of the purchase contract,
- Violations to be punished by fines of $2,500 per violation,
- Violation fines to be capped at a maximum of $10,000,
- Developers shall submit an annual report,
- Failure to submit annual report will incur up to a $50,000 fine.
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So, other than the fact that the POA supports this legislation, does anybody have any problems with any of the points above? They seem reasonable to me, but, maybe I am missing something? As I understand it, this would apply to the 200+ CDD's in FL, not just TV.
Thanks,
Kurt (TV wannabe)