12-0870M

FIRST INSERTION
WATER'S EDGE COMMUNITY DEVELOPMENT DISTRICT
NOTICE OF PUBLIC HEARING TO CONSIDER ADOPTION OF
ASSESSMENT ROLL AND
IMPOSITION OF SPECIAL
ASSESSMENTS FOR
IMPROVEMENTS
The Water's Edge Community Development District Board of Supervisors (“Board”) will hold a public hearing at10:00 a.m., on Thursday, April 26, 2012, at the Offices of Neal Communities, 8210 Lakewood Ranch Boulevard, Lakewood Ranch, Florida, 34202, to consider the adoption of an assessment roll and the imposition of special assessments to secure proposed Series 2012 Capital Appreciation Bonds on benefited lands within the Water's Edge Community Development District (“District”), a description of the lands is set forth below and to provide for the levy, collection and enforcement of the assessments. The public hearing is being conducted pursuant to Chapters 170, 190 and 197 of Florida Statutes.

The District is a local unit of special-purpose government responsible for providing infrastructure improvements for lands within the District. The infrastructure improvement are currently expected to include certain roadway, water, wastewater, stormwater management, landscape, recreation and hardscape improvements, all as more specifically described in the District Engineer's Reports (dated June 10, 2005, September 20, 2006 and March 20, 2012) on file and available at the District's local Records Office, Neal Communities, 8210 Lakewood Ranch Boulevard, Lakewood Ranch, Florida 34202, and at the office of the District Manager, DPFG, 15310 Amberly Drive, Suite 175, Tampa, Florida 33647, 813-374-9105.

The developable lands within the District to be improved are located in Manatee County and are generally described River's Reach community as situated at the northwest corner of Upper Manatee River Road and N. Rye Road containing approximately 249.0 acres. A description of the property to be assessed and the amount to be assessed to each piece or parcel of property may be ascertained at the addresses listed above.

Special assessments shall be imposed in the manner set forth in the District's Supplemental Assessment Methodology Report dated March 22, 2012 which is available for inspection at the addresses listed above. The special assessments will defray approximately $29,000,000 for debt service principal, interest/accretion and county collection fees. The assessment may be pre-paid in whole or in part in some instances or may be paid pursuant to a schedule of not more than thirty (30) annual installments. These assessments will be collected on the Manatee County tax roll by the Tax Collector. Alternatively, the District may choose to directly collect and enforce these assessments.

All affected property owners have the right to appear at the public hearing and the right to file written objections with the District within twenty (20) days of the publication of this notice.

One or more supervisors may participate by telephone.
If anyone chooses to appeal any decision of the Board with respect to any matter considered at the hearing, such person will need a record of the proceedings and should accordingly ensure that a verbatim record of the proceedings is made, which includes the testimony and evidence upon which such appeal is to be based. The public hearing may be continued to a date and time certain that will be announced at the hearing.

In accordance with the Americans with Disabilities Act, this document may be requested in an alternative format. Auxiliary aids or services will also be provided upon request with at least twenty-four (24) hours notice prior to the proceeding. Please contact the District's Manager at (813) 374-9105 for assistance. If hearing impaired, telephone the Florida Relay Service Numbers (800) 955-8771 (TDD) or (800) 955-8770 (VOICE), for assistance.

John Daugirda
District Manager

RESOLUTION NO. 2012-2

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WATER'S EDGE COMMUNITY DEVELOPMENT DISTRICT DECLARING SPECIAL ASSESSMENTS; INDICATING THE LOCATION, NATURE AND ESTIMATED COST OF THOSE IMPROVEMENTS WHICH COST IS TO BE DEFRAYED IN WHOLE OR IN PART BY THE SPECIAL ASSESSMENTS; PROVIDING THE PORTION OF THE ESTIMATED COST OF THE IMPROVEMENTS TO BE DEFRAYED IN WHOLE OR IN PART BY THE SPECIAL ASSESSMENTS; PROVIDING THE MANNER IN WHICH SUCH SPECIAL ASSESSMENTS SHALL BE MADE; PROVIDING WHEN SUCH SPECIAL ASSESSMENTS SHALL BE MADE; DESIGNATING LANDS UPON WHICH THE SPECIAL ASSESSMENTS SHALL BE LEVIED; PROVIDING FOR AN ASSESSMENT PLAT; AUTHORIZING THE PREPARATION OF A PRELIMINARY ASSESSMENT ROLL; PROVIDING FOR A PUBLIC HEARING TO CONSIDER THE ADVISABILITY AND PROPRIETY OF SAID ASSESSMENTS AND THE RELATED IMPROVEMENTS; PROVIDING FOR NOTICE OF SAID PUBLIC HEARING; PROVIDING FOR PUBLICATION OF THIS RESOLUTION.

WHEREAS, the Board of Supervisors of the Water's Edge Community Development District (the “Board”) hereby determines to construct and/or acquire certain public improvements (the “Improvements”) set forth in the plans and specifications available for review at the offices of Development Planning & Financing Group, 15310 Amberly Drive, Suite 175, Tampa, Florida or the offices of Neal Communities, 8210 Lakewood Ranch Blvd. Bradenton, Florida; and

WHEREAS, the Water's Edge Community Development District (the “District”) is empowered by Chapter 190 and Chapter 170, Florida Statutes, to finance, fund, plan, establish, acquire, construct or reconstruct, enlarge or extend, equip, operate, and maintain the Improvements and to impose, levy, and collect the Assessments (as defined below); and

WHEREAS, the Board finds that it is in the best interest of the District to pay the cost of the Improvements by imposing, levying, and collecting special assessments pursuant to Chapters 170 and 190, Florida Statutes (“Assessments”); and

WHEREAS, the District hereby determines that benefits will accrue to the property improved, the amount of those benefits, and that the Assessments will be made in proportion to the benefits received as set forth in the District's Supplemental Assessment Methodology Report dated March 22, 2012 (the “Assessment Report”) incorporated by reference as part of this Resolution and on file in the offices of Development Planning & Financing Group, 15310 Amberly Drive, Suite 175, Tampa, Florida or the offices of Neal Communities, 8210 Lakewood Ranch Blvd. Bradenton, Florida; and

WHEREAS, the District hereby determines that the Assessments to be levied will not exceed the benefits to the property improved.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE WATER'S EDGE COMMUNITY DEVELOPMENT DISTRICT THAT:

1. The foregoing recitals are hereby incorporated as the findings of fact of the Board.

2. Assessments shall be levied to defray a portion of the cost of the Improvements.

3. The nature of the Improvements generally consists of water and wastewater facilities, a surface water management system, roadway improvements, landscaping, lighting and signage, and related systems, facilities and services, all as described more particularly in the plans and specifications on file in the offices of Development Planning & Financing Group, 15310 Amberly Drive, Suite 175, Tampa, Florida or the offices of Neal Communities 8210 Lakewood Ranch Blvd. Bradenton, Florida, which are by specific reference incorporated herein and made part hereof.

4. The general locations of the Improvements are as shown on the plans and specifications referred to above.

5. The estimated cost of the Improvements is approximately $7,115,000 (hereinafter referred to as the “Estimated Cost”).

6. The Assessments will defray approximately $29,000,000 which includes a portion of the Estimated Cost, plus financing related costs, capitalized interest, a debt service reserve and contingency.

7. The manner in which the Assessments shall be apportioned and paid is contained within the Assessment Report. As provided in further detail in the Assessment Report, the Assessments will be levied initially on a per acre basis since the Improvements increase the value of all the lands within the District. On and after the date benefited lands within the District are specifically platted, the Assessments as to platted lots will be levied in accordance with the Assessment Report, that is, on a front foot basis and a per unit basis. Until such time that all benefited lands within the District are specifically platted, the manner by which the Assessments will be imposed on unplatted lands shall be on a per acre basis in accordance with the Assessment Report.

8. The Assessments shall be levied in accordance with the Assessment Report referenced above on all lots and lands, within the District, which are adjoining and contiguous or bounding and abutting upon the Improvements or specially benefited thereby and further designated by the assessment plat hereinafter provided for.

9. There is on file in the offices of Development Planning & Financing Group, 15310 Amberly Drive, Suite 175, Tampa, Florida or the offices of Neal Communities 8210 Lakewood Ranch Blvd. Bradenton, Florida, an assessment plat showing the area to be assessed, with the plans and specifications describing the Improvements and the Estimated Cost, all of which shall be open to inspection by the public.

10. The District Manager is hereby authorized and directed to cause to be made a preliminary assessment roll, as promptly as possible, which shall show the lots and lands assessed, the amount of benefit to and the assessment against each lot or parcel of land and the number of annual installments into which the assessment is divided.

11. In accordance with the Assessment Report and commencing with the year in which the District is obligated to make payment of a portion of the Estimated Cost of the Improvements acquired by the District, the Assessments shall be paid in not more than thirty annual installments payable at the same time and in the same manner as are ad-valorem taxes and as prescribed by Chapter 197, Florida Statutes; provided, however, that in the event the non ad-valorem assessment method of collecting the Assessments is not available to the District in any year, or the District determines not to utilize the provision of Chapter 197, F.S. the Assessments may be collected as is otherwise permitted by law.

12. Upon completion of the preliminary assessment roll, the Board shall adopt a subsequent resolution to fix a time and place at which the owners of property to be assessed or any other persons interested therein may appear before the Board and be heard as to the propriety and advisability of the Assessments or the making of the Improvements, the cost thereof, the manner of payment therefore, or the amount thereof to be assessed against each property as improved; and to authorize such notice and publications of same as may be required by Chapter 170, Florida Statutes, or other applicable law.

13. Pursuant to Section 170.05, Florida Statutes, the District Manager is hereby directed to cause this resolution to be published twice in a newspaper of general circulation within Manatee County, Florida.

PASSED AND ADOPTED this 22ND day of March, 2012.

ATTEST:
WATER'S EDGE COMMUNITY DEVELOPMENT DISTRICT

March 30; April 6, 2012 12-0870M