View Single Post
 
Old 04-10-2013, 09:53 AM
elevatorman elevatorman is offline
Gold member
Join Date: Oct 2008
Location: The Village Duval
Posts: 1,007
Thanks: 35
Thanked 186 Times in 97 Posts
Default

I think first you should realize the structure of the CDDs. There are numbered CDDs (1 thru 10) where the residents live. Then there are two other CDDs, the VCCDD (Village Center Community Development District)and the SLCDD (Sumter Landing Community Development District) which are commercial areas. As a resident of the numbered CDD you will vote for your district representatives.

This is the way I understand how the amenities are controlled and paid for. The developer built and owned all the amenites. The VCCDD sold tax free bonds and use the proceeds to buy all the amenities and the amenity fee flow north of route 466 from the developer. The amenities south of 466 are still owned by the developer, but eventually will be sold to the SLCDD. When we purchased our home we signed a contract with the developer. The contract says basically we pay $135/mo (raised based on CPI every year) and the developer supplies amenities. We are obligated to pay and the developer is obligated to keep the amenities at the level they are are now or better. All the CDDs are audited just like the local government where you live now. Part of the amenity fee we pay is used to pay for the above mentioned bonds.

Next before the homes are built the numbered CDDs sell bonds to investors and use the money to build the infrastructure for the homes. Then the total investment is divided by the number of homes. When you buy a home the cost of paying the investors back is the homeowners bond. So, how is the infrstructure maintained? Once the roads are built they are maintained by the county thru county taxes. The water and sewer piping is maintained by the water company. They charge what they need for water and sewer on a per gallon basis to include maintenance of the system. If a pipe breaks they fix it.

The maintenance fee we pay each year is mostly for landscaping and mowing and for the pond system to control run off.

As for the lawsuit settelment, there was a dispute as to wether the cart paths were an amenity or should be maintained by the numbered CDDs. The $40 million setelement was used to improve the cart paths and add some pickleball courts. There is still a large portion of the money still to be spent by the Amenity Athority.

None of the above is gospel. It is just my take on the situation.