Ranch CDDs approve budgets

 

Ranch CDDs approve budgets

 

Date: September 1, 2010
by: Pam Eubanks | News Editor

 
 

LAKEWOOD RANCH — The average Lakewood Ranch homeowner can expect to see slight increases in Community Development District assessments in the upcoming fiscal year. Supervisors have put aside more money for landscape enhancements, lake improvements and preserve maintenance, among other items.

“That’s the general theme, except for District 1,” Financial Director Steve Zielinski said. “District 1 did much of that this year.”

On average, assessments will increase by up to $20 per unit annually.

Residents in CDD 2 will see the most changes in their assessments because supervisors have revised the formula for calculating assessments so neighborhoods are more closely aligned with the benefits they receive.

Supervisor and CDD 2 Chairman Bob Steplemen said the objective was to simplify the calculations as much as possible while making them more equitable for homeowners. The change was necessary because condominium units, which were not built out when the calculations were first developed, were being assessed as if they were single-family homes.

“The condos pay for their own roads,” Stepleman said. “The condos have their own gates. We did not believe it was equitable to make them pay (the same for) road reserves.”

Additionally, commercial areas benefiting from the roadways, such as the Lakewood Ranch athletic and tennis centers and Legacy Golf Club, will be paying more toward road reserves as well as community landscaping.

“In the end, our goal was to make sure all single-family homes were treated the same,” Stepleman said. “The adjustments affect every neighborhood.”

In CDD 2, supervisors have more than doubled the amount budgeted for landscaping, bringing the total up to about $777,000. They’ve also added $50,000 for pond and lake maintenance and have set aside contingency money for maintenance in case the district hires a different landscaping contractor with a higher price point.

Increased costs were offset, in part, by reductions in irrigation expenses, among other items.

Contact Pam Eubanks at peubanks@yourobserver.com.


BUDGET BREAKDOWN
CDD 1
Total FY2011 budget —$1.58 million
Revenues to support assessments — $1.51 million
Operations and maintenance budget — $839,600
Average % increase paid per unit — 2.4
Average increase in cost per unit annually — $20

NOTEWORTHY: Supervisors took money out of reserves — about $62,000 — to reduce assessment to homeowners.


CDD 2
Total FY2011 budget — $2.447 million
Operations and maintenance budget — $1.79 million
Revenues to support assessments — $2.18 million
Average % increase paid per unit — 1.3
Average increase per unit annually — $21


CDD 4
Total FY2011 budget — $1.69 million
Revenues to support assessments — $1.586 million
Operations and maintenance budget — $880,000
Average % increase paid per unit — 1.9
Average increase in cost per unit annually — $19

NOTEWORTHY: In CDD, there was some confusion about whether homeowners would be responsible for paying for sidewalks installed in front of vacant lots in sections of Greenbrook East. The special assessment for sidewalks applies only to 83 lots, which are owned primarily by builders.


CDD 5
Total FY2011 budget — $1.83 million
Revenues to support assessments — $1.647 million
Operations and maintenance budget — $1.133 million
Average % increase paid per unit — .5
Average increase per unit annually — $16


Inter-District Authority
Total FY2011 budget — $3.5 million
Percent change from FY2010 budget — (-9.8%)

NOTEWORTHY: This year’s budget includes improvements to the HVAC at Lakewood Ranch Town Hall as well as the implementation of Jenark property management software system. Increases were offset by reductions in irrigation costs and by using a budget surplus from previous years.
 

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