– CDDs are created to serve the specific needs of a community.
– They have the power to plan, finance, construct, operate and maintain community-wide infrastructure and services for the benefit of residents.
– CDDs are governed by a Board of Supervisors, initially elected by landowners and later by residents.
– CDD Supervisors are subject to state ethics and financial disclosure laws and serve as publicly elected officials.
– All CDD meetings and records are open to the public, and public hearings are held on assessments.
– The CDD’s budget is subject to an annual independent audit. -CDD has the power to enter into contracts and own real and personal property.
-CDD can impose assessments and levy taxes on property within the district.
-CDD has special powers to provide services and facilities such as water supply, sewerage, roads, and parks.
-The cost to operate a CDD is financed through non-ad valorem assessments on property owners in the district.
-The assessments consist of an annual operational assessment and a capital assessment to repay bonds sold by the CDD.
https://www.jimersonfirm.com/blog/2016/11/community-development-districts-florida-considerations/
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