What is a Maintenance assessment?

What is a Maintenance assessment?

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What is a Maintenance assessment?
  #1  
Old 05-09-2019, 09:14 PM
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kpd3062 kpd3062 is offline
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Default What is a Maintenance assessment?

I read in the Villages News that CDD 12 was considering raising the Maintenance assessment in the newer areas for some reason. Is that the same as the Bond? I'm guessing not. I have heard about Bonds and monthly dues but I don't remember this one. What other fees are there when I move to TV? Thanks
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  #2  
Old 05-10-2019, 12:02 AM
baustgen baustgen is offline
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Bond pays for the streets and utilities. It goes away eventually. Usually 20 years after the house is built. Resale homes have a portion of the bond remaining unless a previous home owner has paid it ofv.

Maintenance bonds are funds used to maintain the roads and utilites. It never goes away. Roads need repairs.
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  #3  
Old 05-10-2019, 06:39 AM
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Quote:
Originally Posted by baustgen View Post
Bond pays for the streets and utilities. It goes away eventually. Usually 20 years after the house is built. Resale homes have a portion of the bond remaining unless a previous home owner has paid it ofv.

Maintenance bonds are funds used to maintain the roads and utilites. It never goes away. Roads need repairs.
The maintenance fee is part of your yearly tax bill.it also pays for the flower plantings and other common area maintenance.
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  #4  
Old 05-10-2019, 06:52 AM
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Quote:
Originally Posted by kpd3062 View Post
I read in the Villages News that CDD 12 was considering raising the Maintenance assessment in the newer areas for some reason. Is that the same as the Bond? I'm guessing not. I have heard about Bonds and monthly dues but I don't remember this one. What other fees are there when I move to TV? Thanks
The easy way to keep this straight is:
A) the bonds help build the villages - infrastructure
B) The maintenance assessments keeps it looking nice and operating properly
C) The amenities fees are what pay for the fun things here

Don't believe all the half-truths you read on that other site, they only print enough to get you to click on their site and pages (that's how they make money, it's called click-bait).

Here's the other half of the story on the 12% CDD-12 and 8% other CDD possible increase. These are only early budget estimates and the final numbers will not be calculated until late August or early September. A number has to be presented 90 days prior to final approval and once presented it can go no higher, only lower. The 12% increase that was reported is for the Project Wide Fund (PWF) portion of their budget. A significant part of that increase is due to the increased acreage and maintenance that comes with the property as it is developed, this part of the increase is covered by the additional maintenance assessments collect by the new homes that have been sold, so there is a net zero impact from that increase.

The second half of the increase and the increase the other CDDs are seeing is due to past years increased costs. Previously the PWAC has utilize "working capital" to fund some of the costs of operating the PWF. The working capital budget was over funded for the 3-4 months of reserves it was designed for. Basically we were using our savings account to fund some of our budget. Last year this was about $750K. Now the working capital is at just over the 3 months of reserves (about $4 million) so to keep it healthy we can't draw it down further. Now we have to live off our monthly paycheck so to speak.

Last year a 3% increase was projected for the PWF contribution but PWAC funded half of this with working capital and only passed a 1.5% increase on to the districts. Most districts then funded this out of their working capital budgets and few saw any maintenance assessment increase (south of CR466).

Our budgets and reserves are stable and healthy but the days of spending from our savings are coming to an end.

One last note, last year at this time the project PWF increase to be passed to the districts was about 17%, the final budget increase was 1.5% when approved in September. Will it be the same this year, I can't say for sure, but I am optimistic that it won't be and 8 or 12% increase.
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  #5  
Old 05-10-2019, 07:31 AM
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Quote:
Originally Posted by perrjojo View Post
The maintenance fee is part of your yearly tax bill.it also pays for the flower plantings and other common area maintenance.
The flower planting is a very small portion of the overall expenses of the maintenance budget. The combined PWF and direct CDD expense for the flower planting is less than $3 per year per house.
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Diverting Expenses
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Old 05-10-2019, 07:47 AM
PennBF PennBF is offline
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Question Diverting Expenses

There are tricks the Management of the villages use and it is just about hidden from the residents. They allegedly used funds meant only for maintenance to do "non maintenance" spending. Why??Because they have a cap on what they can spend for Amenities while they have no cap on Maintenance as at the end of the year the bill is spread among Residents without a limit.!! As an example allegedly the Park built near the junction of Mores Blvd and 466 was charged as a "Maintenance Expense" and it was not maintenance and therefore not included in the cap spending. Regardless as to whether it was well worth it, etc. The question is whether it was expensed to the correct line item and the books were not allegedly charged incorrectly
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  #7  
Old 05-10-2019, 08:59 AM
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Bonds are thirty years in district 12. Not 20 as posted above. In the oldest districts it was 20. For the vast majority of all residents it is a thirty year bond
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  #8  
Old 05-10-2019, 07:15 PM
NoMoSno NoMoSno is offline
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Quote:
Originally Posted by baustgen View Post
Bond pays for the streets and utilities. It goes away eventually. Usually 20 years after the house is built. Resale homes have a portion of the bond remaining unless a previous home owner has paid it ofv.

Maintenance bonds are funds used to maintain the roads and utilites. It never goes away. Roads need repairs.
The county owns the roads and maintains them.
The exception would be villa roads.
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  #9  
Old 05-10-2019, 09:09 PM
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If you really want to know what the maintenance assessments pay for go the the districtgov.org website and download the current budget workshop agenda for your district and the PWAC budget workshop agenda.

These have a budget line item breakdown of the current recommended budget for next year as well as this year's and last year's numbers. These are not the final budgets and these numbers usually go down before the final approval, they cannot increase above the amounts that will be approved based on these preliminary budgets.

line item 539498 is the Project Wide Fund fee, this is the majority of the budget for most districts. The PWF does the majority of the work and heavy lifting in the areas south of CR466. It provides the continuity between the districts and allows for volume buying of services by combining the 8 CDDs into one large unit. It also spreads the risk so districts south of 466 don't feel the pain like the residents are feeling in CDD4.

I've attached CDD-10 agenda for Monday afternoon's budget workshop meeting for all to look at.

Please attend your District meeting that happen every month and learn how your government works and get the facts and not the myths, fiction, and misinformation many on this and that other website spew forth.
Attached Files
File Type: pdf Agenda_2019_5_13_Meeting(1608) (3).pdf (822.8 KB, 18 views)
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  #10  
Old 05-10-2019, 09:22 PM
TheWarriors TheWarriors is offline
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Thank you GoldWingNut for all you do as a representative as well as always setting things straight. You are an asset to the community and it amazes me that people believe you can get something for nothing. All that we love about the Villages costs money to maintain and I am grateful we have people like you to always provide clarity. I think the entirety of the Villages government does a great job of continuing to keep the Villages second to none and the information is available to all who seek it.
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