What is a CDD?

 

 

A Community Development District (CDD) is defined by Florida Statute as a local unit of special purpose government authorized to deliver urban community development services to a particular area.  CDD’s are  established to finance, fund, construct and acquire infrastructure for new and developing communities.  CDD’s, as explained below, are used throughout Florida to ensure that growth not only pays for itself but is able to sustain itself long after a developer has completed sales and left the community.  The activities are funded by special assessments that are imposed on property within the CDD, which special assessments are over and above Pasco County’s real estate taxes.  The special assessments directly result in the enhanced benefits of living within a CDD.

The WaterGrass CDD’s are responsible for the development of the recreational features, infrastructure (village streets, sewers, water lines, etc.) and common areas of the WaterGrass community.

 

Are there many CDD’s in Florida?

Yes, there are currently over 250 Community Development Districts in Florida.  Many of the best residential communities in the Tampa Bay region benefit from having CDD’s.

 

How are the WaterGrass CDD’s organized and what do they do?

The landowners within the individual Districts elect the Board of Supervisors for the  District.  As is customary in most CDD’s, the developer who initially owns all of the land in the District elects the initial Board.  After the sixth year, registered voters who are residents of the District begin to elect Board members in elections conducted by the Supervisor of Elections of Pasco County.  The Board governs “In the Sunshine” meaning all of its meetings, decisions, and records are open to the public.  The Board is responsible for setting and managing the budgets of the District.  The Board selects consultants and contractors to design, construct and maintain the facilities within the District.  The Board also selects professional management, financial and legal advisors to assist them.

 

How do the WaterGrass CDD’s acquire funds to provide services?

The Districts sell revenue bonds for construction of amenities (neighborhood parks), common areas (landscaped entrances, tree-lined boulevard right-or-ways, and roundabouts), and infrastructure (roadways, water and sewer, reclaimed water, stormwater systems).  Bonds are then repaid through fixed annual assessments on property tax bills of property owners within the Districts.  The fixed annual assessments are levied over a thirty-year period (long-term assessments).  Additional expenses for the operation and maintenance of the facilities and common areas are also funded through annual property tax assessments and vary from year to year.  CDD assessments are collected on the county real estate tax bills sent to property owners annually and are itemized separately on the tax bill.

 

What are the advantages of living within a Community Development District?

The advantages are numerous and can enhance your home investment.  The Districts aid in ensuring that the recreational facilities, landscaping, entranceways and all the things that make the community so desirable are completed and maintained.  The Districts provide landowners with consistently high levels of service managed and financed through self-imposed fees and assessments.  The Board governs “In the Sunshine,” and benefits from professional management.  Members of the Boards are elected officials charged with operating and maintaining the community facilities for the benefit of all of the Districts’ residents.  Therefore, the means of maintaining the facilities over the long term is established and continues after the developer has completed the community -- less worry about how things will look in years to come.

 

Why is there also a WaterGrass Property Owners’ Association?

The WaterGrass Community Development Districts develop and maintain the amenities, common areas and infrastructure of the community.  The WaterGrass Property Owners’ Association (WPOA) is the single-family homeowners’ association that establishes and enforces the architectural and landscaping standards for individual homes.  The WPOA has a Design Review Committee that approves plans for homes and provides for certain rules and regulations (such as those for builders and contractors) that enhance the community.  The WPOA is also in charge of maintenance for the individual neighborhood privacy gates 

 

How is my District’s Special Assessment determined?

Each property owner will pay an annual assessment to the District based on two components of cost.  One is the fixed amount required to repay the debt for the capital improvements made by the District (long-term assessments).  The other is an annual assessment for the District’s operations and maintenance of facilities.  The operations and maintenance portion of the installment may fluctuate slightly (up or down) from year to year depending on such things as annually negotiated maintenance contracts.

 

Does the developer pay assessments?

Yes, the developer pays assessments on all the land it owns in each District at the time the assessments come due.

 

How much does the CDD cost?

The annual fees are determined by the size of your property and are billed on your property tax bill (generally placed in escrow on a monthly basis by your lender).  However, the long-term assessments can be paid in full at any time.  The operation and maintenance budgets are adopted each year and may change from year to year.  The operation and maintenance costs are also assessed according to the size of your property -- the same methodology as for the long-term assessments.  The WaterGrass CDDs’ assessments have been calculated to be competitive with other quality residential communities in the area.

 

Is the CDD assessment tax deductible?

It is recommended that you consult your tax professional on this issue.

 

Can I prepay my CDD assessments?

Yes, the annual debt portion (long-term assessment) of your assessment can be paid off in full at any time during the 30-year amortization period without penalty.  The operations and maintenance portion of the assessment remains in place on an on-going basis.

 

Is this assessment on my property a personal obligation?

No.  It is an obligation on the property and stays with the property.  When you no longer own the property, you stop paying this assessment.  The subsequent owner would then have this obligation.

 

When were the WaterGrass CDD’s established?

The WaterGrass Community Development District I was created by Ordinance #05-04 adopted on January 22, 2005 by the Pasco County Board of County Commissioners pursuant to Chapter 190 of the Florida Statutes.  The WaterGrass Community Development District II was created by Ordinance #13-05 adopted on March 5, 2013.

 

What if I have further questions about the WaterGrass CDD’s?

If you would like more information on the WaterGrass Community Development Districts, please contact the District Manager’s office at the following address:

 

CDD I

Brian K. Lamb, Manager

Meritus Corp.

Phone: (813) 397-5120

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Website: watergrasswesleychapelcdd.org

 

CDD II

Andrew Mendenhall

Severn Trent Management Services – Southeast

Phone:  (813) 991-1116 ext. 102

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Website:  WaterGrass2CDD.com

 

 

 

 

This document is provided for general informational purposes only and may not be relied upon as a basis to acquire a resident at WaterGrass.  The descriptions and representations of proposed facilities contained in this brochure reflect the planning of the WaterGrass Community as of September 2013.  Crown Community Development reserves the right to change the size and location of any and all such facilities as the planning and development of WaterGrass continues.

 

 

 

WATERGRASS PROPERTY OWNERS' ASSOCIATION, INC.

2940 SPORTS CORE CIRCLE

WESLEY CHAPEL, FL  33544 

 

 (813) 994-2277

 This email address is being protected from spambots. You need JavaScript enabled to view it.