[champion6]

Thursday's Daily Sun, page C3, had an article describing the election of supervisors in CDD 11. The article described this district as what is commonly called the Villages of Fruitland Park. Link to map

One paragraph is especially interesting (or odd): "Its (the new board's) next step is to determine a date to discuss a bond issuance, District Manager Janet Tutt said. Bonds will pay for infrastructure, such as stormwater systems, roads, drainage, landscaping and irrigation, at a cost of about $40 million."

Hmm ... I don't think anyone expected these lots to have a bond because they are located in Lake County. It will be interesting to hear what is discussed at the meeting where this will be discussed.

[justjim]

There are CDD'S in many different counties in Florida. Parts of TV is in Lady Lake City (Lake County) but not setup as a CDD.

[RErmer]

Not to mention, cities often issue bonds to pay for infrastructure. It may be that OP is assuming the generic word "bonds" means the special bonds the developer used in parts of The Villages.

[janmcn]

Originally Posted by champion6

Thursday's Daily Sun, page C3, had an article describing the election of supervisors in CDD 11. The article described this district as what is commonly called the Villages of Fruitland Park. Link to map

One paragraph is especially interesting (or odd): "Its (the new board's) next step is to determine a date to discuss a bond issuance, District Manager Janet Tutt said. Bonds will pay for infrastructure, such as stormwater systems, roads, drainage, landscaping and irrigation, at a cost of about $40 million."

Hmm ... I don't think anyone expected these lots to have a bond because they are located in Lake County. It will be interesting to hear what is discussed at the meeting where this will be discussed.

When The Villages first proposed this development to Fruitland Park, it was announced that there would be no bonds and the cost of the infrastructure would be included in the price of the homes, as is done in most developments. Because of this, designer homes are expected to start at $500,000.

It is interesting that now, some months later, they are talking about attaching bonds to these homes. Was there a date and time announced for this meeting?

[champion6]

Originally Posted by RErmer

Not to mention, cities often issue bonds to pay for infrastructure. It may be that OP is assuming the generic word "bonds" means the special bonds the developer used in parts of The Villages.

Yes, of course I'm assuming this because the quote is from Janet Tutt. The type of bond you refer to isn't done in TV since it isn't a "city," it's 11 CDDs and two central districts.

[champion6]

Originally Posted by janmcn

Was there a date and time announced for this meeting?

No date/time in the article.

[2BNTV]

40 million divided by 1,920 homes equals 20,833.33 per home.

That's just math.

[Bizdoc]

Perhaps they are doing bonds, but will pay them off at original sale (put the bond cost into the sales prices) rather than collecting part each year thru the county.

[2BNTV]

Originally Posted by Bizdoc

Perhaps they are doing bonds, but will pay them off at original sale (put the bond cost into the sales prices) rather than collecting part each year thru the county.

Good thought.

Gary Morse will get the 40 million one way, or another. He didn't build this paradise and lose money!!!

More power to his business acumen.