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Old 10-25-2009, 10:51 PM
 
Location: In the Moment
23 posts, read 49,565 times
Reputation: 15

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I'm not familiar with some Text used on the forum, can someone please explain what are:
CDD fees?

Deed Restrictions?

Pro's & Con's of Deed Restrictions?

What does LWR mean?

I know what HOA is, but are they monthly or annual charges?

What other charges can one expect from a planned (master) community?

Thanks to all
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Old 10-26-2009, 01:59 AM
 
Location: sittin happy in the sun :-)
2,672 posts, read 3,036,041 times
Reputation: 985
CDD I belive are additional fees charged to 'aid' the develoment -someone will confirm
deed restrictions - restricvtions on what you can and cannot do -each HOA varies
pros -no monster trucks or trailers next door yards kept tidy etc etc
cons - some HOAs virtually abuse the power measuring the height of your grass ! me personally I am pro them
LWR is Lakewood Ranch a very nice poplular area near Sarasota
Fees no idea think it might vary
I suspect what they like- you need to investigate thoroughly
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Old 10-26-2009, 06:32 AM
 
Location: Palm Island and North Port
6,779 posts, read 12,875,200 times
Reputation: 2072
Quote:
Originally Posted by bronxborne View Post
I'm not familiar with some Text used on the forum, can someone please explain what are:
CDD fees?

Deed Restrictions?

Pro's & Con's of Deed Restrictions?

What does LWR mean?

I know what HOA is, but are they monthly or annual charges?

What other charges can one expect from a planned (master) community?

Thanks to all
LWR is short for Lakewood Ranch, a development on the Sarasota/Bradenton line. LWR does have CDD and HOA fees. You might have also seen the abbreviation PR which stands for Palmer Ranch, which is another development in Sarasota and it has HOA fees but no CDD fees.

CDDs are boards that levy fees on homeowners in certain developments in order to build amenities such as pools, golf courses, club houses, etc, without having to raise the local tax rate. They are also used to construct roads and lay in utility lines that serve the homeowners who pay the CDD fees.

Homeowners pay a certain amount every year, rather than being assessed for the entire fee up front. CDD fees are also tax deductible for the property owner, as opposed to HOA fees, which are not. They also enable builders to create upscale communities that wouldn’t be possible without the CDD fees

Buyers often don’t know the risks and aren’t told about all the things that can happen, such as fees going up or paying for amenities that don’t directly benefit the homeowners. Currently, Florida law only requires a sales contract to include a disclaimer stating that CDDs may be imposed on the property. Homeowners are often surprised to learn that the CDD fees may increase at the developer’s discretion, with no recourse available to them. This is because CDD boards are initially comprised of the developer’s associates and are not required to have any homeowner representation for up to the first six years of their existence.

My advice: if you’re purchasing a home in a self-contained community, be sure to ask your real estate agent, or the developer, if there is a CDD clause in the contract.

Homeowners' associations, or HOAs, are formal legal entities created to maintain common areas; they have the authority to enforce deed restrictions. Most condominium and townhome developments, and many newer single-family subdivisions have HOAs, which are usually created when the development is built. Covenants, Conditions & Restrictions (CC&R's) are issued to each homeowner, and HOAs are established to ensure that they are adhered to in order to maintain the quality and value of the properties involved.

HOA's can be charged monthly, quarterly or yearly. If the community was maintenance free then you might have fees associated with that. Also some communities include certain things like: cable, water, etc

Features of a Homeowners' Association:
•Membership is mandatory for all property owners within the development

•Members are usually charged mandatory fees

•Homeowners associations have the authority to enact and enforce maintenance and design standards in addition to those established by City ordinances

•Homeowners' associations are corporations with formal bylaws - there is usually a governing board which hires a property management company to handle maintenance and enforcement issues

•Many homeowners' associations publish a newsletter

Other restrictions that may be enforced by an HOA: parking on street, landscaping approval or types of plants, garage door being open, fence restrictions, pool restrictions, erection of basketball hoops or tree houses, storage of boats and RVs, number of pets, age requirements of residents. There can be more.

If you want to start a discussion on a controversial topic, start talking about Homeowners' Associations. You are bound to find people who appreciate them, people who despise them, and people who are somewhere in the middle. Those who like Homeowners' Associations say that they protect the value of their homes and neighborhoods. They do this by keeping the area looking attractive, and making sure no one does anything wild, like painting their house gold and pink, parking an 18-wheel truck on their front lawn, leaving dismantled vehicles in the street, or running a flea market in the driveway. Opponents of HOAs point to overzealous and unscrupulous HOA boards, fee increases that can't be declined, and rules that are far too restrictive, from what kind of shrubs to plant, to placement of a clothesline, to preventing the displaying of the American flag. Anti-HOA organizations believe that the HOA are private governments that set themselves above the law.

Whether or not to live in a development governed by CC&R's and an HOA is an individual choice. Prospective home buyers should:
•Read any CC&R's recorded against the home and make sure they can live with the conditions and restrictions contained in the document prior to close of escrow.

•Find out what the current dues are. Once you buy the home, you can't decline to pay the dues. If you do, you could be evicted and your home could be sold to liquidate the debt. HOA dues can range from $20 per month to hundreds per month, depending on the property and the amenities provided by the community.

•Find out how often the dues have been raised during the history of the HOA. Will you be able to withstand future increases or will you have to move? Find out if the HOA has cash reserves.

•Determine if there are term limits for the Board, and if Board members have attended training sessions in efficient HOA management

•Determine if there is litigation pending involving the HOA

Last edited by SoFLGal; 10-26-2009 at 06:49 AM..
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Old 10-26-2009, 02:19 PM
 
Location: Punta Gorda and Maryland
5,735 posts, read 8,331,184 times
Reputation: 989
EXCELLENT POST! SoFLGal!

You're Awesome! For that you get two ATT-A-GIRLS! two Hugs!, two beers!, and all the kisses I can send over the puter! XOXOXOXOX! LOL - I was gonna flirt with you, but because I'm a good boy - I won't!
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Old 10-27-2009, 05:46 AM
 
56 posts, read 118,085 times
Reputation: 34
Are CDD's the same thing as a tax improvement district? I am specifically thinking of the West Villages Tax Improvement District. Is that a CDD, or is a CDD something in addtion to a tax omprovement district?

PS. SoFLGal, I read many BB's on a variety of topics. I can think of no person on any of the boards I frequent that provide such a consistent stream of valuable information. Thank you for the time and effort you invest in the content of this board.

Respectfully Submitted,
Catsupbottle
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Old 10-27-2009, 06:37 AM
 
Location: Palm Island and North Port
6,779 posts, read 12,875,200 times
Reputation: 2072
Quote:
Originally Posted by Big House View Post
EXCELLENT POST! SoFLGal!

You're Awesome! For that you get two ATT-A-GIRLS! two Hugs!, two beers!, and all the kisses I can send over the puter! XOXOXOXOX! LOL - I was gonna flirt with you, but because I'm a good boy - I won't!
Down boy, down! Thanks BH you're awesome too

Quote:
Originally Posted by catsupbottle View Post
Are CDD's the same thing as a tax improvement district? I am specifically thinking of the West Villages Tax Improvement District. Is that a CDD, or is a CDD something in addtion to a tax omprovement district?

PS. SoFLGal, I read many BB's on a variety of topics. I can think of no person on any of the boards I frequent that provide such a consistent stream of valuable information. Thank you for the time and effort you invest in the content of this board.

Respectfully Submitted,
Catsupbottle
Thank you as well Catsupbottle! Cute name by the way

I believe that tax improvement district and CDD fees are the same thing. I think what's happening here is that people get clued in to certain terms "HOA, CDD, etc" and they ask about them. Then the associations changes the name of them and say they don't have them, but really it's the same thing.

If you're talking about the West Villages in North Port/Venice, I know the gal that runs the HOA over there. I'll give her a ring this morning and see what she has to say. If I can get a hold of her I'll post her answer.
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Old 10-27-2009, 06:45 AM
 
Location: Florida
917 posts, read 1,583,785 times
Reputation: 262
Quote:
Originally Posted by SoFLGal View Post
Opponents of HOAs point to overzealous and unscrupulous HOA boards, fee increases that can't be declined, and rules that are far too restrictive, from what kind of shrubs to plant, to placement of a clothesline, to preventing the displaying of the American flag.
My parents weren't allowed to have fruit trees in their back yard in their community! They fought back, and somehow managed to be allowed a couple of Grapefruit trees. My father enjoyed that tremendously until one died off and Charley destroyed the better tree. He wasn't allowed to plant a new one.

The reason given for not allowing the fruit trees was that the lawn-care crews would have to pick up fallen fruit.
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Old 10-27-2009, 07:29 AM
 
Location: Punta Gorda and Maryland
5,735 posts, read 8,331,184 times
Reputation: 989
Quote:
Originally Posted by SoFLGal View Post
Down boy, down! Thanks BH you're awesome too



Thank you as well Catsupbottle! Cute name by the way

I believe that tax improvement district and CDD fees are the same thing. I think what's happening here is that people get clued in to certain terms "HOA, CDD, etc" and they ask about them. Then the associations changes the name of them and say they don't have them, but really it's the same thing.

If you're talking about the West Villages in North Port/Venice, I know the gal that runs the HOA over there. I'll give her a ring this morning and see what she has to say. If I can get a hold of her I'll post her answer.

Correct me if I'm wrong, but CCD fees can be looked at as a separate financing device (like a loan) financied by the jurisdiction (paid by the home owner to the Community Association) that then is paid back to the State/jurisidiction for the loan. The loan is generally used to pay for the cost of roads/streets, utilities, and other community landscaping and improvements like play grounds, pools, clubhouse, maintenance shop and equipment, pumping stations, and things like that so that the Developer does not have to come up with the money and is not held responsible for its repayment the community is responsible. So they collect these fees to cover that from the residence, and if the community is full and vibrant the expense is not extreme and seems fair, but if the community is not full then the burden falls on a smaller number of residence who are responsible for the payment, and the balance of the loan. Generally that is how the CCD fees are worked out when the project financing concept is being worked out.

Home Owner Association Fees (HOA) fees are generally established and controlled by an elected board of the community (and usually the developer retains controll until the community reaches certain milestones such as percentage of ownership in the community, or upon completion of the project - where the developer can then walk away). During and after that point the Association can levy fees to cover its operating costs, some reserve amount (established and maintained) to cover things that need to be replaced like dead trees or damaged community property, pay for lawn and pool maintenance services, and things like that, but generally not the intitial infrastructure costs. These fees are usually constant (but not fixed), and are paid for by, and spread over, the residence in the community. Again, if the community is full and vibrant, then the efficiency of the group makes them more reasonable and less burdensome than they are if the community is half full and not strong financially.
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Old 10-27-2009, 09:03 AM
 
Location: Palm Island and North Port
6,779 posts, read 12,875,200 times
Reputation: 2072
Quote:
Originally Posted by catsupbottle View Post
Are CDD's the same thing as a tax improvement district? I am specifically thinking of the West Villages Tax Improvement District. Is that a CDD, or is a CDD something in addtion to a tax omprovement district?

PS. SoFLGal, I read many BB's on a variety of topics. I can think of no person on any of the boards I frequent that provide such a consistent stream of valuable information. Thank you for the time and effort you invest in the content of this board.

Respectfully Submitted,
Catsupbottle
The Tax Development District for West Villages encompasses IslandWalk as well as the 12,000 acres surrounding, Gran Paradiso, the beautification of US 41 on that stretch of highway, etc. A CDD you can payoff. A tax development you cannot payoff and is part of the tax bill. It's part of the non ad valorem taxes. I'll give you an example of how your bill might look if you were looking at a property in the West Villages and how the West Village charges might compare to other charges on your tax bill. Keep in mind that this is only an example but as you can see the West Village charge would be, by far, be the most expensive charge on your bill under non-ad-valorem. Hey, somebody has to pay for that pretty road out there and they stick it to the Gran Paradiso/IslandWalk residents. Remember this charge will not go away or be paid off.

Things you might see under non ad-valorem taxes and examples of fees are:
NP Fire & rescue, $105
NP Solid Waste, $267
West Villages Improvement Dist, $659
NP Road & Drainage, $24.

Then you would have your Ad-Valorem taxes-
Sarasota Co General Revenue Fund, $514
Bonds-Debt Service, $34
Mosquito Control, $5
Sarasota Memorial Hosp, $180
SWFL Water Management, $64
Manasota Basin, $25
West Coast Inland Navigation, $7
Sarasota School Board:
District Fund, $981
Cap Improvement, $250
City of NP, $553

Hope this helps explain this charge
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Old 10-27-2009, 04:49 PM
 
601 posts, read 1,250,986 times
Reputation: 385
SoFLGal
Thanks for the education on CDD's and "tax development districts". I will never live in an HOA again (I hope) but am always interested in these details that can make or break a homeowner.

I just read a letter to the editor from a Punta Gorda homeowner in an HOA who says the developer has served papers to almost 600 homeowners adding $480 to their fees to support the restaurant and golf course. Not by vote of the board of directors just the developer. Totalling over $250,000 a year.

Pretty tough when you can't vote the bum out. At least voters can do that when taxes are increased for poorly run services.
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