District 2 takes financing lead

LAKEWOOD RANCH — Lakewood Ranch Community Development District 2 will take the lead on financing a new maintenance facility for the community.

Although the project is being driven by the Inter-District Authority, the agency set up to handle joint issues on behalf of Lakewood Ranch’s five community development districts, CDD 2 supervisors have agreed to secure financing for the project, as the district is established with creditors.

“We did it before (for Lakewood Ranch Town Hall),” CDD 2 Chairman Bob Stepleman said. “The agreements are pretty tight. While we’re the lead agency, all the CDDs are responsible for paying. It’s a simple matter of facilitating the financing.”

With input from the CDDs, IDA officials have agreed to pursue a 12-year, tax-exempt, bank-qualified loan for the $2.46 million project.

Brett Sealy, of Mbs Capital Markets, has been retained to put financing proposals together on behalf of the board. Costs for those services will come out of the cost of issuance, or total project cost.

“We won’t know what our final costs are until we receive some interest from the various (lenders),” Town Hall’s Finance Director Steve Zielinski said.

The IDA has plans to construct a roughly 8,700-square-foot maintenance facility on property located on 59th Ave. E., Bradenton.

Its lease agreement with Lakewood Ranch developer Schroeder-Manatee Ranch, for its current operations location off Lorraine Road, expires Sept. 30, 2013. The property is being sold.

IDA attorney Scott Rudacille said the entity is “on track,” according to its timeline for constructing the maintenance facility. The project’s application, he said, is complete and under its first round of reviews by Manatee County.

IDA Operations Director Ryan Heise said construction plans for the facility are 60% complete and should be finalized by the end of December. The first phase of construction likely would begin in January, he said.

Contact Pam Eubanks at [email protected].

IN OTHER BUSINESS
CDDs 2 & 5
• Supervisors approved a work assignment with Atkins North America for pavement resurfacing, permitting, bidding and construction administration professional services. Cost for services is not to exceed $35,987 for District 2, and not to exceed $26,114 for District 5.

Repaving work for The Masters Avenue between Lorraine Road and Lakewood Ranch Boulevard is slated for Nov. 26 through Dec. 14.

• In CDD 5, supervisors approved a $13,500 modification to a contract with WilsonMiller that includes additional investigation and a report on inlets and manholes and changes in required repairs to Phase 3 inlets.

• In District 5, Operations Director Ryan Heise reported he is working on replacing a palm tree that died at the entrance of the Blythefield neighborhood.
 
CDD 4
• Supervisors are looking at proposals to correct erosion issues on the river behind Greenbrook Adventure Park.

• Supervisor Keith Davey announced the next Safety Committee Meeting will be held at 7 p.m. Oct. 8, at Lakewood Ranch Town Hall.

RECOGNITION
Lakewood Ranch Town Hall Executive Director recognized Town Hall’s Director of Operations, Ryan Heise, at the Aug. 16 meeting, for five years of service with the Inter-District Authority.

“We have a dedicated operations team,” Heise said, as Eva Rey presented him with a certificate.