In todays Daily Sun there was an article on the CDD structure of The Villages. I have some questions.

1. The article said after about six years the residents take over running their CDD We have been living in CDD 6 for 14 years and as far as I know residents arent running it.

2. Why is CDD infrastructure financing using revenue bonds better than traditional bank financing?

3. Who is getting the amenity fee monthly?

Thank you

[dewilson58]

Expert: Village Community Development Districts

[biker1]

The Villages regularly holds two types of classes: a couple of hour class on the CDDs and a full day class that covers multiple aspects of how The Villages functions (Resident Academy). I do not know the status of these classes during the pandemic. Pretty much everything you want to know will be covered plus you have the opportunity to ask questions.

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

[Garywt]

My thought is I bought a house and I pay my amenities fee. Nothing else to worry about except having fun.

[Bogie Shooter]

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

With a little effort most can be found on line.

Try starting here forDistrict 6: Village Community Development Districts

[Marathon Man]

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

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

[CWGUY]

Originally Posted by Marathon Man

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

"It is CDD (Community Developement District."
Thanks for saying that, I was about to. OP has some good questions..... I asked them before buying......

[Goldwingnut]

Originally Posted by Marathon Man

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

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

Good answers from Marathon Man.

As far as question #2 goes, these are municipal bonds being issued and normally quite large (CDD13 Phase 1 bonds were $90+ million). A bank would be reluctant to lend money of these quantities to an unknown and unproven entity (CDD 13 has only existed since June 11, 2018) with no source of revenue to back up the loan. There are lots of banking rules about lending money, remember what a pain it was just to get a mortgage. The interest rate charged would be incredibly high and unaffordable.

The more attractive financing option is to get investors. If the properties would be privately held then private investors would be sought, these investors would then have a seat at the table for making decision, decisions that would be purely profit motivated. Not something desirable for a residential community.

The public bond offering allows for investors to provide the funding without having too much say in the process of usage and repayment terms except those of the bond issuing agent.

The bonds issued by the CDDs here in The Villages are highly sought after due to the long-proven track record of our CDDs and the development. Because of this record and reputation, the bonds can be issued at very competitive rates (low interest rate) which is good for the payers of the bonds - the homeowners.

Originally Posted by biker1

The Villages regularly holds two types of classes: a couple of hour class on the CDDs and a full day class that covers multiple aspects of how The Villages functions (Resident Academy). I do not know the status of these classes during the pandemic. Pretty much everything you want to know will be covered plus you have the opportunity to ask questions.

Thanks. We did attend those classes when we moved in
but since six years had not elapsed the question of why the residents werent running CDD 6 did not arise. With the pandemic we dont want to attend group events so I will email the POA for their response in the Bulletin.

Originally Posted by dewilson58

Expert: Village Community Development Districts

Thanks, that was helpful info but no mention of CDD 6 that I saw.

[Goldwingnut]

All numbered CDDs supervisors north of 44 with I think of one in CDD11 are residents and elected in the general elections by the voters, I this is now also true for all the supervisors in CDD12. Only CDD 13 (Chitty Chatty, Bradford, Hawkins, StC. ect) are currently landowner elected and controlled.

The Commercial CDDs - SLCDD, VCCDD, and BWCDD - and the AAC members are all landowner elected supervisors, each landowner receives one vote for each acre or portion thereof owned. The 5 of the 6 AAC board members are residents of The Villages and represent their respective CDDs. Of course there is primarily only one land owner in the commercial CDDs.

Originally Posted by Bogie Shooter

With a little effort most can be found on line.

Try starting here forDistrict 6: Village Community Development Districts

Thanks for the link and it does partially answer my question. But how are the "qualified electors" chosen?
I know from dewilson 's link for district 1 that they contact someone when a vacancy arises.
__________________________________________________
Since 2012, all supervisors in District No. 6 have been elected by 'qualified electors' (registered voters) residing in the District. They are elected on a non-partisan basis on the general election ballot

Originally Posted by Garywt

My thought is I bought a house and I pay my amenities fee. Nothing else to worry about except having fun.

Yes, that is what we have been doing for 14 years, but with some of the recent controversy I want to get more involve is how things are run.

[Goldwingnut]

Originally Posted by John41

Thanks for the link and it does partially answer my question. But how are the "qualified electors" chosen?
I know from dewilson 's link for district 1 that they contact someone when a vacancy arises.
__________________________________________________
Since 2012, all supervisors in District No. 6 have been elected by 'qualified electors' (registered voters) residing in the District. They are elected on a non-partisan basis on the general election ballot

It's just a fancy term, Qualified Electors are Florida registered voters that reside within the given CDD. If you are a non-Florida resident that owns a home in a CDD you can vote in Landowner Elections but not general elections.

[Goldwingnut]

Originally Posted by John41

Yes, that is what we have been doing for 14 years, but with some of the recent controversy I want to get more involve is how things are run.

Not sure what recent controversaries you are referring to, there is a lot of misunderstanding and misinformation put out recently but there have been no issues.

One point of disagreement in today's paper was about CDD-7 wanting to exit the project wide agreement (PWA). Once again they mention that 7, as well as the other districts south of 466 pay into the fund, what keeps getting omitted is what that money does and what each district receives in return. The collective buying power of all the CDDs combined make for larger and more economical contracts, as 7 is finding out with the cost of getting a lawyer. The PWA also brings consistency across the community. Risk mitigation is another huge factor that is overlooked. Districts north of 466 don't have a joint management agreement and are on their own for infrastructure costs. The residents of CDD4 felt the sting of the cost of the sink hole in that are 2 years ago with a 30% increase in their maintenance assessment, which would not have happened south of 466 because of the PWA.