Questions about Community Development Districts
What is a Community Development District (CDD)?
A CDD is a governmental unit created to serve the long-term specific needs of its community. Created pursuant to chapter 190 of the Florida Statutes, a CDD’s main powers are to plan, finance, construct, operate and maintain community-wide infrastructure and services specifically for the benefit of its residents.
What does a CDD offer?
Through a CDD, the community can offer its residents a broad range of community-related services and infrastructure to help ensure the highest quality of life possible. CDD responsibilities within our Forest Creek community include storm water management, pond and wetlands management, common area maintenance, entry gates, irrigation water system, clubhouse, pool/SPA, fitness center, nature trails, parks, roads, dock, dog parks, playgrounds, and street lights.
How does the CDD benefit the residents?
Residents within a community with a CDD may expect to receive three major classes of benefits. First, the CDD provides landowners consistently high levels of public facilities and services managed and financed through self-imposed fees and assessments. Second, CDD residents elect the Board of Supervisors, which is able to determine the type, quality and expense of CDD facilities and services. Third, other savings are realized because a CDD is subject to the same laws and regulations that apply to other government entities. The CDD is able to borrow money to finance its facilities at lower, tax-exempt, interest rates, the same as cities and counties. Many contracts for goods and services, such as annually negotiated maintenance contracts, are subject to publicly advertised competitive bidding. Residents and property owners in a CDD set the standards of quality, which are then managed by the CDD. The CDD provides perpetual maintenance of the environmental conservation areas. This consistent and quality-controlled method of management helps protect the long-term property values in a community.
How does a CDD operate?
A CDD is governed by an elected Board of Supervisors and a professional manager implements the policies of the Board. Per Florida State law, the CDD’s business is conducted in the “Sunshine,” which means all meetings and records are open to the public.
What is the cost of a CDD?
The cost to operate a CDD is borne by those who benefit from its services. Property owners in the CDD are subject to a non-ad valorem assessment, which appears on their annual property tax bill from the county tax collector as a single CDD assessment. The CDD assessment may consist of two parts—an annual assessment for operations and maintenance, which can fluctuate up and down from year to year based on the budget adopted for that fiscal year—and an annual capital assessment to repay bonds sold by the CDD to finance community infrastructure and facilities, which annual assessments are generally fixed for the term of the bonds. The annual operating and maintenance assessment amount will be set annually by the Board of Supervisors. Public hearings are held on CDD assessments and the CDD’s budget is subject to annual independent audit.
What is the Board of Supervisors?
A Community Development District has a Board-Manager form of government with the Board formulating public policy and the District Manager carrying it out. The Board consists of five members called Supervisors. The Board serves as the governing body of the District and sets public policies implemented by staff. The Board receives its power from Chapter 190, Florida Statue, which governs community development districts. Manatee County provides additional special powers to the Forest Creek CDD. The Board is responsible for the everyday operation and the future of the district.
Who is the Forest Creek CDD Management Company?
The Forest Creek CDD selected Rizzetta & Company as the District Management Company in 2018.
Can bonds be paid off?
For a bond payoff quote, e-mail BondPayoff@inframark.com and provide the name of your CDD, your name, home address, phone number and e-mail address.
What is required to be on the CDD website?
Chapter 189.069, Florida Statutes defines what is required to be on a CDD website.
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