IDA OKs funding proposal

LAKEWOOD RANCH — Planning for the construction of a new maintenance facility has been under way for months, and now, Lakewood Ranch is one step closer to seeing its vision come to fruition.

Lakewood Ranch Inter-District Authority voted 3-1, July 19, in favor of pursuing a 12-year funding proposal for the construction of the 6,675 square-foot facility. CDD 1 Supervisor Jean Stewart dissented on behalf of her district.

The 12-year, bank-qualified loan would require the community to pay roughly $251,000 annually for an estimated total cost of $3 million. As a result, homeowners would see an annual increase of $37 on their assessments. The new assessments for the maintenance facility won’t go into effect until 2014.

Supervisors for Lakewood Ranch Community Development Districts 2, 4, and 5 agreed to move forward with a 10-or 12-year loan, although the majority of CDD 1 Supervisors favored a 30-year loan.

“I just haven’t formulated a hard-core decision,” CDD 1 Supervisor Alan Roth said. “Personally, I would say 30 years because I believe that’s what half of the district would want.”

CDD 1 Supervisor Gary Berns agreed.

“I believe in paying for what you’re using,” Berns said. “Under that theory, the 30-year (proposal) makes sense to me. Half of the people (probably) won’t be here in 12 years, and I (feel) that’s a gift from me that quite honestly I don’t want to give.”

In addition, the board also approved expanding the design of $2.2 million facility by 2,500 square feet to include an extra bay and storage area, additional security features and a covered parking area for maintenance equipment. The additional features will cost the IDA about $200,000.

“We feel this will certainly benefit operations and the overall effect of operations,” Town Hall Executive Director Eva Rey said.

Contact Jen Blanco at [email protected].