Lakewood Ranch - is it worth it? (Nokomis, Anna Maria: fit in, real estate)
Sarasota - Bradenton - Venice areaManatee and Sarasota Counties
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A Shekkie clone said: "Paying extra (whatever you call it) for some privilege to see nice landscaping and a community pool or tennis court seems a bit strange and unnecessary"
If you like seeing nice landscaping, use the community pool (or have friends/relatives who do), or play tennis, pickleball, bocce ball, basketball, card games...whatever, then it's not so strange. It's becoming a preferred way of life for a growing percent of people who are moving to this area.
Granted, all these amenities may be unnecessary, but they are a quality-of-life issues, for those who can afford it.
Along those lines, do you have cable tv? a microwave oven? HVAC? a smart phone? If so, that is your decision to make, and few would argue that those things are strange, and unnecessary for you.
To each, his own. Let's cherish and enjoy the personal choices we have in America, rather than criticising the quality-of-life choices others make.
Location: Sarasota/ Bradenton - University Pkwy area
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I think residents can participate on CDD Boards..no? I'm pretty sure there are a lot of laws making their finances transparant..no?
The primary function of a CDD is to construct and maintain infrastructure for a planned community development (PUD). This infrastructure may include roads, sidewalks, street lights, parks, recreational facilities, jogging trails, stormwater management, water mains, sewer lines, roadside landscaping and other such items.
The CDD was created in FL in 1980 and there are now well over 600 community development districts in this state. Developers like CDDs because they don't have to use their own money up front to pay for all of the development's infrastructure. Local government likes them because it allows developers to increase property values (and the tax base) without cost to the government. For home buyers, developers claim it keeps down the prices of the newly constructed homes because infrastructure costs are deferred.
The theory behind CDDs holds that services and public facilities used by residents and landowners will be available early in the development process, and are controlled by those who use them, and are paid for by self-imposed assessments and fees.
By FL state statute (chapter 720) and under strict guidelines, these CDDs have the right to enter into contracts, can adopt by-laws and rules, can obtain funds by borrowing, can issue bonds and levy assessments, can own property and can sue and be sued. CDDs are subject to the same laws and regulations that apply to other government entities. The CDD can borrow money at the same lower, tax-exempt interest rates that cities and counties have access to. Many of the maintenance contracts of the CDD are negotiated on an annual basis and subject to publicly advertised competitive bidding.
A CDD is governed by its board of supervisors, which is elected initially by the landowners/developers, then begins transitioning to residents of the CDD after six years of operation. The residential board of supervisors are elected. All board members are subject to state ethics and financial disclosure laws, including sunshine laws.
For example, in Lakewood Ranch, the various CDD districts are each governed by a board of supervisors elected by the district's registered voters. They hold meetings that are open to the residents of the district. Public hearings are held before the annual budget can be adopted. The annual fee for a property is determined by combining the fixed amount of debt service still owed on that lot (from bond issuance) with the variable amount set by the budget for operations & maintenance. The CDD assessment for the year appears on the property tax bill in the non ad-valorem section. It is usually shown as 2 parts - the bond portion and the O&M (operations & maintenance).
For Lakewood Ranch the official web site for CDDs is at: LWR: CDD
To find out the specifics of a CDD for a particular home, I would get the CDD board's contact information as homeowners do not always know the specifics about the bonds and the debt can change, depending upon the actions of the CDD board of supervisors.
Hmm : "how beautifully maintained" hmm, er...the house owners are paying, or over-paying a tax for intangible aesthetics of something generally not on your own property...
What is obvious to most is there is not much transparency provided to all house owners at all
You are correct, there are much cheaper (and sometimes nicer, or as "nice") way outside Lakewood Ranch proper, and that's a fact. To each his own.
The fact remains that many (not all) CDD fee'd properties can be a total screwjob in the longterm, particuarly if your holding period is forever and ever ,amen.
CDD fee'd communities are not the only game in town - far from it. They have a place in the housing landscape but some place an undue burden on house hunters.
If you have an unlimited budget, no worries - knock yourself silly. I would still recommend buyers to put that expense of your after tax income into a SPDR or even a lousy mutual fund - or simply buy another small property.
Smart buyers would evaluate what TANGIBLE benefit are you really and truly receiving. When the market flattens out (as it's doing now in many many locations), or starts declining within the business cycle (which it has done), you'll still be on the hook paying on a depreciating asset.
Don't be a total chump. Investigate, then invest. All that glitters ain't gold, and that's damn true in buying a house to live in in order to have a roof over your head.
You seem a little sensitive on this subject. I did not claim it is the best situation for everyone. I enjoy having all homes, parks and shopping areas maintained to a high level of beauty. I enjoy living where it is all beautiful and no one parks cars in the yard. Now this is certainly not the best way to live for everyone, but it is obviously very popular for people who can afford to do so. It's nice to have choices for everyone and no one is forced to live a way they do not want to.
It's not about money for me. It's not about an investment. It's about living out the rest of my life the way I want to.
There isn't much transparency at first when the developer/builder owns most of the property, but as the CDD community gets sold out, the owners begn to take over, according to Sunshine above. Thx for confirming my understanding Sunshine.
Also, the transparancy seems to be there too, and it improves as the community sells out too. Again, thx for confirming my earlier research.
I tried like heck to avoid CDD's, but in the end, I couldn't. We have no problem affording it, and it's offset by savings in other areas of our budget, which I've disclosed many times before...no cable tv, no smart phone, Aldi, self insure, no pool, no debt, ect.. We all set our own priorities, and I'm thankful to have that choice.
Call it what you must! CDD fees are NOTHING more than an infrastructure TAX. It's nothing more that a purposeful cost "shift" from the developer to the house purchaser. Period. Full stop.
It's a not-so-hidden methodology and process to place additional financial burden on the end user.
Anyone that suggests that CDDs are "necessary" in order to develop a planned unit development, is flat out lying to you, or practicing financial "alchemy".
Call it what you must! CDD fees are NOTHING more than an infrastructure TAX. It's nothing more that a purposeful cost "shift" from the developer to the house purchaser. Period. Full stop.
It's a not-so-hidden methodology and process to place additional financial burden on the end user.
Anyone that suggests that CDDs are "necessary" in order to develop a planned unit development, is flat out lying to you, or practicing financial "alchemy".
Yes, it is a tax. No problem with that as it is easy to see the benefits of it. It is also a great way to do it as no one is forced to pay the tax. You have a choice to buy a home in a CDD community or not. That is much better than everyone being forced to pay a tax they do not want to.
You seem a little sensitive on this subject. I did not claim it is the best situation for everyone. I enjoy having all homes, parks and shopping areas maintained to a high level of beauty. I enjoy living where it is all beautiful and no one parks cars in the yard. Now this is certainly not the best way to live for everyone, but it is obviously very popular for people who can afford to do so. It's nice to have choices for everyone and no one is forced to live a way they do not want to.
It's not about money for me. It's not about an investment. It's about living out the rest of my life the way I want to.
Well, as a finance professional, also graduate trained in Urban Planning, Public Policy, and Law, I'm "sensitive" to organizations developing and employing vehicles and tactics that are murky, deceptive, opaque, expensive and plainly unnecessary in the scheme of providing functional and attractive communities.
It's BS, of the worst order - innovative? well yes....but completely unnecessary for developers who have the horsepower and financial strength in financing certain kinds of developments.
Affording the high CDD fees, doesn't make you an informed, intelligent, savvy buyer, or a decent neighbor. It might indicate that you are easily impressed or fooled by the "mirage" of "physical beauty" or simple landscaping.
My personal opinion is that people who seek out high priced CDD communities are dumb as a box of rocks, given various other viable alternatives......but people can't help themselves...they behave like sheep going to slaughter.....and they keep getting "sheared" year after year after year.
Some of these buyers get impressed with faux "security", such as automatic gates and plastic rod barriers, which any fool can avoid. It's providing an "image" of security most times (notwithstanding guard gates that are staffed 24/7 and take pictures).
Amenities?? have you seen neighbors clamoring to stand in line to play tennis? lots of people splashing around in the community pool everyday? NO . Is the gym full of workout bunnies? NO. Are the walk paths beaming with walkers everyday? NO. Have their HOAs decreased? hell NO.
What you are getting, is hosed, and sold an "image of lifestyle".....and you are getting TAXED like hell.
I'm for developers simply telling the truth and about cost shifting in the name of "lifestyle". That's total unequivocal rubbish.
Just know you're getting hosed. If you prefer getting screwed, that's your choice. My choice is not to make that choice....EVER.
Well, as a finance professional, also graduate trained in Urban Planning, Public Policy, and Law, I'm "sensitive" to organizations developing and employing vehicles and tactics that are murky, deceptive, opaque, expensive and plainly unnecessary in the scheme of providing functional and attractive communities.
It's BS, of the worst order - innovative? well yes....but completely unnecessary for developers who have the horsepower and financial strength in financing certain kinds of developments.
Affording the high CDD fees, doesn't make you an informed, intelligent, savvy buyer, or a decent neighbor. It might indicate that you are easily impressed or fooled by the "mirage" of "physical beauty" or simple landscaping.
My personal opinion is that people who seek out high priced CDD communities are dumb as a box of rocks, given various other viable alternatives......but people can't help themselves...they behave like sheep going to slaughter.....and they keep getting "sheared" year after year after year.
Some of these buyers get impressed with faux "security", such as automatic gates and plastic rod barriers, which any fool can avoid. It's providing an "image" of security most times (notwithstanding guard gates that are staffed 24/7 and take pictures).
Amenities?? have you seen neighbors clamoring to stand in line to play tennis? lots of people splashing around in the community pool everyday? NO . Is the gym full of workout bunnies? NO. Are the walk paths beaming with walkers everyday? NO. Have their HOAs decreased? hell NO.
What you are getting, is hosed, and sold an "image of lifestyle".....and you are getting TAXED like hell.
I'm for developers simply telling the truth and about cost shifting in the name of "lifestyle". That's total unequivocal rubbish.
Just know you're getting hosed. If you prefer getting screwed, that's your choice. My choice is not to make that choice....EVER.
LOL! You are off the chain fella. You wreak of jealousy.
I'd like to see Boissey start a movement since he is so vehement about this. NOCDD.com He could get volunteers to picket along public streets out in front of new communities that charge CCD's and carry signs that say "don't pay CDD's go to NOCDD.com instead"
On his web site, people could select the CDD neighborhood they were looking at in a pull down apha list, and several non CDD neighborhoods nearby would pop up with links to their sales offices. the picketers would also carry flyers containing the same info in case any cars stopped to inquire.
This would be a lot of fun to watch play out, and who knows, he might just win the war against CDD's.
Railing against CDD's here isn't doing much good, but picketing 3 or 4 of the largest new-build entrances would bring down the local media on you in a flash, especially if you told them when and where to show up with camera's, and news babes.
Go for it!
I figure he would just be the type who would drive around CDD communities and deface everything to show "The Man".
Lakewood Ranch is not that great and it is very congested - I have to drive there every day and am so sick of the traffic. I would never pay CDD - its not worth it to me -
I live in a well maintained community with very low HOA because I do not really need all the amenities - I have my own pool - do not want to swim in a community pool - we have no tennis or golf which is OK with me - it depends on what is important to you.
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