Quote:
Originally Posted by John41
In todays Daily Sun there was an article on the CCD structure of The Villages. I have some questions.
1. The article said after about six years the residents take over running their CCD. We have been living in CCD 6 for 14 years and as far as I know residents arent running it.
2. Why is CCD infrastructure financing using revenue bonds better than traditional bank financing?
3. Who is getting the amenity fee monthly?
Thank you
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It is CDD (Community Developement District.
1. The residents of each district elect five supervisors to sit on the CDD Board of Supervisors. Each CDD has a board and meeting are held monthly. Those supervisors represent the residents. Residents do not directly control anything. What the article likely meant is this. - The board is originally made up of five developer appointed supervisors because there are no residents when the CDD is first formed. Eventually, resident elected supervisors are voted in.
2. Good question to ask when you attend a meeting.
3. Depends where you live. AAC north, LSCDD south. Budgets are available publicly.
Give this a look:
https://www.districtgov.org/yourdist...inal%20CDD.pdf