The FishHawk Ranch CDD
What is a CDD?
A CDD or Community Development District is a governmental unit created to serve the long-term specific needs of a community. It is a method of financing, planning, acquiring, constructing, operating and maintaining community-wide improvements and services for a community.
In order to finance the community infrastructure the CDD issues what are called Special Assessment Revenue Bonds. Generally, the CDD assess each property owner a yearly capital debt service assessment to pay back those bonds. In the case of the CDD a significant portion of this capital assessment will be prepaid by the developer at the time of closing. Typically the bonds are paid back by the property owners over a 20 year time frame.
What Does the CDD in FishHawk Ranch Do?
The CDD offers FishHawk Ranch and its residents a broad range of community-related services and important infrastructure that enables FishHawk Ranch to offer its residents the best quality of life possible. In general a CDD is responsible for items like storm water management, potable and irrigation water supply, sewer and street lights.
How Does the CDD Operate?
The Fishhawk Ranch CDD’s are organized like other local governments in Florida. It has a legislative body that is composed of a five-member board known as the Board of Supervisors. The Board establishes the policy of the District in accordance with Florida law. The Board, by law, must hire a District Administrator and District Counsel. Staff members operate utilizing the same formalities as a County Administrator and County Attorney. The Board, through review of advertised Requests for Qualifications, ranks and selects a District Engineer to perform the engineering needs of the District. District Administration staff and the District Attorney administer the operations of the District and implement the Board’s policies and contracts. The CDD’s business is conducted in the “Sunshine,” which means all meetings and records are open to the public. Public hearings are held on CDD assessments and the CDD’s budget is subject to annual independent audit.
The FishHawk Ranch CDD uses District Management the District Manager’s responsibilities include:
- Preparation and submittal of proposed operations and maintenance budgets for Board review and action
- Preparation of contract specifications for District operations, including community appearance, waterway management, street lighting and facilities maintenance
- File all required forms and documents with state and local agencies
- Attend all Board of Supervisor meetings – implement the policies of the Board
- Additional duties as directed by the Board
CDD Benefits to FishHawk Ranch
The FishHawk Ranch community and its residents receive three major classes of benefits from the CDD. First, the CDD provides landowners consistently high levels of public facilities and services managed and financed through self-imposed fees and assessments. Second, the CDD ensures that these community development facilities and services will be completed concurrently with other parts of the development. Third, CDD landowners and electors choose the Board of Supervisors, which is able to determine the type, quality and expense of CDD facilities and services.
The CDD is able to save FishHawk Ranch money because the CDD is subject to the same laws and regulations that apply to other government entities. The CDD is able to borrow money at lower, tax-exempt interest rates just like cities and counties. It also publicly advertises its contracts for goods and services, such as its maintenance contracts, therefore creating a competitive bidding environment.
How Much Does The CDD Cost?
The CDD is an annual fee that varies depending on your location in FishHawk Ranch. Compared to other communities the FishHawk Ranch CDD is very reasonable especially with all the amazing amenities the community has to offer.
While it is difficult to pinpoint and exact dollar amount for the CDD it generally costs between $1000 to $3000 per year depending on the location of your home. To find out exactly how much the CDD is for a specific property contact me or head over to the Hillsborough County Property Appraiser Website, enter the address, enter the Tax Records and View the Annual Bill. Under Non-Ad Valorem Assessments you will see a line the will read something like FISHHAWK II CDD and amount. This amount is the annual CDD amount for the property. Because it is a Non-Ad Valorem assessment it is generally paid with your mortgage and could be tax deductible. Please consult your tax adviser for details.
For additional information regarding the FishHawk Ranch CDD please visit the FishHawk Ranch CDD Website.
Additional Information About FishHawk Ranch Costs and Fees
Please Note: In addition to the FishHawk Ranch CDD fees, FishHawk Ranch residents are also responsible for HOA fees.