$1200 monthly CDC Fees in Nocatee?

[JagFan27]

Originally Posted by donisanasfan

I was responding to an insult hurled at anyone who chooses to live in a cdd community.

You think this is a reason to make a false post on a public message board about our city. You think this is helping people who might consider moving here?

Really? Really???

[donisanasfan]

a false post ? Crime and urban blight in downtown Jax is a false post? I guess anyone one posting on a Detroit board should only be writing about the great public school system. Or on a San Francisco board write about the affordable housing and lack of homeless problem. For me this is not a Jacksonville chamber of commerce board. I am not marketing the city of Jacksonville. I am simply directing people to areas of town I think they might want to live. Crime is a problem in downtown ( like many downtown areas) and from statistics that I have read the Mandarin area has a high crime rate as well. You choosing to pretend that it doesn't, isn't going to make it reality.

[Bob Rasmussen]

Bought and built houses in Ut, CA, WI, PC FL, GA and was never,ever required to pay CDD fees The developer made profit
selling off the lots and that covered his costs?????????????

[EricBoyd]

Originally Posted by Bob Rasmussen

Bought and built houses in Ut, CA, WI, PC FL, GA and was never,ever required to pay CDD fees

I don't believe you.

[judeK]

Originally Posted by Bob Rasmussen

Bought and built houses in Ut, CA, WI, PC FL, GA and was never,ever required to pay CDD fees The developer made profit
selling off the lots and that covered his costs?????????????

Maybe if the last house you bought and/or built was over 20 years ago. I currently own 8 homes (bought all within the last 10 years) in the First Coast and have never had to pay a CDD fee on any of them. That's because I rent them all out and bought them specifically in non-CDD areas. The newest home I own is now 6 years old, and the oldest is about 60 years old. My current home in Neptune Beach is 32 years old.

[mawipafl]

I had never heard of CDDs before moving to FL ... such a source of developers' funding was not on the radar in the Northeast and other places. So, to build a number of houses over the course of years and never pay a CDD fee is possible.

However, once here, I noticed a big difference between developers using profits with build-as-they-go in order to finish (non-CDD) and developments with the up-front cash (CDDs) to complete amenities and public spaces at the start. For that reason we purposely chose to buy in a CDD that had everything in place rather than buying in a non-CDD with just promises of future amenities.

[Robyn55]

Actually the way it was done (and is still done in many areas) is that builders would use their own money (which might be borrowed - often from banks) to develop land. In terms of putting in roads and other infrastructure (like water and sewer). Then - as they sold off the land/houses - they would book profits/pay back lenders. Developers often did this on a fairly large scale (for example - in some HOAs in Ponte Vedra Beach). Most developers over the years did ok. Some went broke (especially during one of Florida's regular building "busts").

This usual way of doing things changed at various times in various places for various reasons. When it comes to Nocatee - you have to go back in time to when it started. In 2001. St. Johns County had a pretty small population. And the plans for Nocatee weren't big - they were huge. Now no way the county was going to pay for all the improvements. And the developers/builders didn't want to/couldn't either. The solution? Go out and issue millions and millions of dollars in municipal (junk) bonds (I think Nocatee currently has more than $100 million in debt - but I wouldn't swear to that number) - to pay for all the improvements. Bonds which the property owners will have to pay off for a *long long* time.

Now this is in addition to the normal everyday costs you'd have to pay in a HOA or condo - so-called "maintenance fees" (the amount of which can vary a lot depending on the amenities and the level of maintenance). So you're often looking at a hefty chunk of change in monthly payments to cover everything.

I had honestly never heard of CDDs before Nocatee rolled around. And think that the costs of living in a plain old HOA or condo are high enough without having to pay off millions of dollars in bonds for the rest of my life. Which is why - if I moved - I wouldn't move into a CDD. Robyn

[dreamhometeamjax]

It is priced 125K below recent appraisal. It is a rare opportunity and a much better deal than some comparible priced home in those Nocatee type developments.

Wacahootaman, why would you sell so far below appraisal? Granted, that price range doesn't have as many buyers, but the market is great for sellers right now.

[Robyn55]

Originally Posted by dreamhometeamjax

It is priced 125K below recent appraisal. It is a rare opportunity and a much better deal than some comparible priced home in those Nocatee type developments.

Wacahootaman, why would you sell so far below appraisal? Granted, that price range doesn't have as many buyers, but the market is great for sellers right now.

You seem to be responding to a post in this thread from 2007. Maybe this thread should be "retired". Robyn