West Villages ID 12.13.2018 Board Meeting Information - Unit 7 Bonds

When:   Thursday, December 13, 2018

Time:    11 am

Where:  Commission Chambers, second floor of the North Port City Hall

              4970 City Hall Blvd, North Port, FL 34286 https://goo.gl/maps/DXXjKw54vB62

 Agenda & Documentation: http://westvillagesid.org/wp-content/uploads/WVID-2018-12-13-Regular-Board-Meeting-Book2.pdf

     

      The major agenda item pertains to the Unit 7 Bonds Public Hearing, as it was published in the local paper last weekend and detailed in the agenda & documentation.

      Unit 7, also named after the Waste Water Treatment Facility, includes lands mainly located SW of the US41 and River Rd. intersection, with a small portion north of US41, just east of Oasis. Following is some information from meeting documentation:

• Area: 1476 acres
• Project dwelling units: 2531 (both single and multi-family units)
• Infrastructure plans can be found on page 166
• Permitting status is on page 167 (refers to waste water plant and a new potable water plant)
• Estimated cost of improvements : $148 million
• The special assessment methodology (pages 184 – 214) has estimates of the project cost allocation (from $29,237 for 4-story units to $93,560 for a 80 ft single family unit).

     The description of the Unit 7 Bonds and their repayment via the special assessment methodology of the individual dwellings may be instructive and generate questions related to the existing development Units Bonds (particularly of those in default – Unit 2).

     Every homeowner is encouraged to participate and engage via public comments with the WVID Board with questions and suggestions for the WVID better outcomes.  For items perceived critical to the common good, a consistent view can be expressed by groups of residents.