Quote:
Originally Posted by justjim
You must be talking about the bond and not an impact fee. The bond is paid by the resident and will be on your yearly Real Estate tax Bill unless you pay it in full. An impact fee is paid by the Developer.
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They are talking about the bond but implying it is an HOA fee. For some reason they want to insist we have an HOA.
I may get some of this not quite right:
- Infrastructure (roads) in new development areas are typically paid for by the developer with the costs rolled into the home prices
- Roads to connect to new developments and road improvements to support the additional traffic are paid for by the County with some of the cost covered by impact fees.
In the Villages, we do things differently:
- Infrastructure is still paid for by the developer but the costs are not added to the home price; instead, they are allocated to each of the homes as the bond.
- Roads to connect to new developments are sometimes paid for by the developer and then sold back to the County.
- Road improvements to support the additional traffic are paid for by the County. There is a road impact fee but a recent study found it to be inadequate. An attempt to increase the impact fee worked out poorly.