Community Development
District No. 4

District Audit

FY09-10 Adopted Budget D4

Dist 4 FY10-11 Proposed Budget

The Villages Community Development District No.4 was established pursuant to the provisions of Florida Statutes Chapter 190 on March 7, 2000 as the best alternative to providing community facilities and services to the "Villages of Marion County" project.  The "Villages of Marion County" encompasses an area of approximately 1723 acres of which the District comprises approximately 1186.6 acres, with the remaining 537 plus acres owned by the Village Center Community Development District and privately owned commercial entities.  In order for the District to provide the infrastructure described below, in 2000, 2002, and 2003 the District issued Special Assessment Revenue Bonds for each phase.  While the bonds are supported by special assessments that are levied upon residents of the District, the proceeds of those bonds were used to construct roadways, master drainage system and storm water structures, recreation trails, landscaping of open areas, sidewalks and street lights which benefit all property owners in the "Villages of Marion County".  The allocation of these bond costs to only District residents was done pursuant to an assessment methodology that was prepared by Fishkind & Associates, a financial advisory firm.  In addition to the infrastructure bond assessment, there is an annual maintenance assessment paid by District residents, which provides for services, on going maintenance and administration of the project infrastructure.  The project-wide improvements and the maintenance of those improvements are what impact fees and municipal taxes would otherwise provide.  Since District 4 is not located within the municipality, these facilities are being provided by the District’s special assessments, which remain with each lot.  Each homeowner may prepay the district-wide infrastructure (bond debt) special assessment against his property.  The maintenance assessment, however, is ongoing and determined at the annual budget hearings by your Board of Supervisors.

Now that you are generally familiar with the District concept, let’s describe the election process and the Board of Supervisors who oversee the activities of the District.  Initially the Board of Supervisors, consisting of five members, is elected based upon land ownership.  The legislature, in creating Chapter 190, recognized that in order to maintain continuity of the facilities provided to the newly developing community, that the developer, who then owns the majority of the land should be granted the right to substantially complete the project as envisioned by the various land use and zoning approvals that were obtained as part of the development review process.  However, the legislature also recognized that at the time prescribed by statute, control should transition to the residents.  Therefore, at the election held in 2006, one supervisor was elected by a landowner vote (one vote per lot owned and/or one vote per acre owned).  In addition, two supervisors were elected by "qualified electors" (registered voters) residing in CDD No. 4.  From this point forward, all elections in District 4 will be qualified based elections.  This election conversion format ensures that the residents ultimately control the level of service provided to the infrastructure facilities that the District maintains.