A Community Development District is a governmental unit created to serve long term needs of a specific community. The main purpose of the CDD is to plan, finance, operate and maintain community wide infrastructure and services for the benefit of the community residents.
The CDD is governed by its Board of Supervisors who are elected initially by the landowner and then transitions to the residents after six years. The CCD collaborates with the Homeowner's Association.
The CDD provides residents of the community with three major classes of benefits. First, the CDD provides landowners with a consistently high level of public facilities and services managed and financed through fees imposed by the landowners. Second, the CDD ensures that the community development facilities and services will be completed concurrently with other parts of the development. Third, the landowners and electors choose the Board of Supervisors.
Residents and property owners in a CDD establish the standards of quality which the CDD manages to help protect the long-term property values in a community.
The operational cost of a CDD is borne by those who benefit from its services. The CDD is subject to a non-ad valorem assessment which appears on their annual property tax bill.
The CDD makes it possible for a community to offer the most desirable elements of a master-planned community. With a CDD established, residents maintain control quality and value for the future.
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