Nocatee's Future & CDD Fees (real estate, HOA, attorney)

[bmfphaedrus]

My wife and I are thinking of building in Nocatee but I have some concerns about the CDD fees.

Not so much about what they are now but what they might become, particularly if the economy worsens and the development is not completed. I've already decided to speak to a real estate attorney before I make a decision but I'm wondering if anybody has information or suggestions on where to find more information about the CDD Fees?

Thanks.

[SmileDoc]

CDD fees do not change for you. A future buyer possibly but not for you. You can even pay off the whole amount in one lump sum if you wanted. HOA can go up though, not CDD.

[fsquid]

Originally Posted by SmileDoc

CDD fees do not change for you. A future buyer possibly but not for you. You can even pay off the whole amount in one lump sum if you wanted. HOA can go up though, not CDD.

CDD certainly can go up or down depending on what it is used for. Ours in Julington Creek went up a little last year.

[SmileDoc]

For nocatee, I have been told, the CDD will not go up. HOA yes, CDD will not change in Nocatee last I was told on Saturday.

[bmfphaedrus]

Originally Posted by SmileDoc

CDD fees do not change for you. A future buyer possibly but not for you. You can even pay off the whole amount in one lump sum if you wanted. HOA can go up though, not CDD.

It was my understanding that even if you paid the CDD fee off, that it's possible you could be assessed another in the future but I'm fairly confused about the whole thing. I had understood they were backed by bonds which also concerns me but I"m having a lot of trouble finding information.

[bmfphaedrus]

Originally Posted by SmileDoc

For nocatee, I have been told, the CDD will not go up. HOA yes, CDD will not change in Nocatee last I was told on Saturday.

Thanks, where did you get the information? I emailed the Welcome Center requesting information but never got anything back. Also, I'm wondering. . .if you don't pay them up front, how long how you paying them off? I was told it was $165 a month but I don't know for how long.

[EricBoyd]

The way I understand it, there's a fixed, larger portion of the CDD bond that doesn't change, but there are usually maintenance costs built into the total fee, which can change depending on budget needs.

[bmfphaedrus]

For anyone who's interested, I spoke to an attorney who recommended that I contact the St. Johns county tax collector so that's what I'm doing next.

[fsu813]

Nocatee's Future & CDD Fees?

The answer to that question is here: Freakonomics » What Is the Future of Suburbia? A Freakonomics Quorum

Here's part:

There are many ways of describing the fiasco of suburbia, but these days I refer to it as the greatest misallocation of resources in the history of the world.

I say this because American suburbia requires an infinite supply of cheap energy in order to function and we have now entered a permanent global energy crisis that will change the whole equation of daily life. Having poured a half-century of our national wealth into a living arrangement with no future — and linked our very identity with it — we have provoked a powerful psychology of previous investment that will make it difficult for us to let go, change our behavior, and make other arrangements.

Compounding the problem is the fact that we ditched our manufacturing economy for a suburban sprawl building economy (a.k.a. “the housing bubble”), meaning we came to base our economy on building even more stuff with no future.

This is a hell of a problem, since it is at once economic, socio-political, and circumstantial.
Here’s what I think will happen: First, we are in great danger of mounting a futile campaign to sustain the unsustainable, that is, of defending suburbia at all costs.

[fsquid]

always will be a demand for suburbs, maybe not as far out, but always a demand to not be under the city's jurisdiction.