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TOWNE PARK COMMUNITY DEVELOPMENT DISTRICT
NOTICE OF PUBLIC HEARING TO CONSIDER IMPOSITION OF SPECIAL ASSESSMENTS PURSUANT TO SECTION 170.07, FLORIDA STATUTES, TO CONSIDER ADOPTION OF ASSESSMENT ROLL PURSUANT TO SECTION 197.3632(4)(b), FLORIDA STATUTES, AND NOTICE OF REGULAR MEETING
The Towne Park Community Development District Board of Supervisors (“Board”) will hold a public hearing on Thursday, April 12, 2018 at 11:00 a.m. at the Offices of Highland Homes, 3020 S. Florida Avenue, Suite 101, Lakeland, Florida, 33803, to consider the adoption of an assessment roll, the imposition of special assessments to secure proposed bonds on benefited lands within the Towne Park Community Development District (“District”), a depiction of which lands is shown below, and to provide for the levy, collection and enforcement of the special assessments.
The public hearing is being conducted pursuant to Chapters 170, 190 and 197, Florida Statutes. 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 office of the District Manager located at 12051 Corporate Boulevard, Orlando, Florida 32817, (407) 382-3256.
The District previously issued its Towne Park Community Development District Special Assessment Bonds, Series 2016, in a principal amount of $2,960,000 (the “Series 2016 Bonds”) to fund certain infrastructure improvements within the District, as more specifically described in the Engineer's Report dated November 2014, as supplemented by the First Supplemental Engineer's Report, Phase 2A & 2B (Assessment Area 1) dated May 12, 2016 (the “Series 2016 Project”).
The District anticipates issuing additional special assessment bonds and to utilize the proceeds of such special assessment bonds, in part, to finance a portion of the cost of the acquisition and/or construction of additional public infrastructure improvements and facilities benefitting the lands within the District including certain offsite improvements. The streets and areas to be improved are more particularly identified below and in the Engineer's Report dated November 2014, as amended by the First Amendment to Master Engineer's Report, dated March 2018 (the “Improvement Plan”), which is on file with the District and available during normal business hours at the address provided above.
It is anticipated that the District will levy non-ad valorem special assessments upon benefited lands within the District to secure the special assessment bonds in accordance with the District's Amended and Restated Master Assessment Methodology, dated March 8, 2018 (the “Assessment Report”). The method of allocating assessments for the Improvement Plan to be funded by the District will initially be determined on an equal assessment per acre basis, and will be levied on an equivalent residential unit (“ERU”) basis at the time that such property is platted or subject to a site plan.
The annual principal assessment levied against each parcel will be based on repayment over thirty (30) years of the total debt allocated to each parcel. The District expects to collect sufficient revenues to retire no more than $50,000,000 in debt to be assessed by the District, exclusive of fees and costs of collection or enforcement, discounts for early payment and interest. The proposed annual schedule of assessments is as follows:
Phase Planned Bond Net Annual Bond Net Annual Bond Gross Annual Bond Gross
Lots/ERUs Assmt./Category Assmt./Unit Assmt./Category (1) Annual
Assmt./Unit (1)
Phase 2 207 $453,948 $2,193 $488,117 $2,358
Phase 3 1,431 $3,138,165 $2,193 $3,374,371 $2,358
Single-
Family
Phase 3 450 $641,449 $1,425 $689,730 $1,533
Multi-
Family
Totals 2,088 $4,233,562 $4,552,217
(1) Gross Assessments represent the assessment placed on the County tax roll each year, if the District elects to use the Uniform Method of collecting non-ad valorem assessments authorized by Chapter 197 of the Florida Statutes. Gross assessments include a 7.0% gross-up to account for the fees of the County Property Appraiser and Tax Collector and the statutory early payment discount.
The District's Board of Supervisors is NOT proposing to change the special assessments for existing platted lots within Phase 2A of the District which secure the Series 2016 Bonds.
All assessments described herein may be collected directly by the District in accordance with Florida law, or may be collected on the property tax bill issued by the Polk County Tax Collector. The decision to collect the assessments by any particular method - e.g., by direct bill or on the tax roll - does not mean that such a method will be used to collect the assessments in future years, and the District reserves the right in its sole discretion to select collection methods in any given year, regardless of past practices. 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.
Please be advised that failure to pay any assessments will cause a tax certificate to be issued against your property within the District that may result in a loss of title, or, if the assessments are directly collected, will cause a foreclosure action to be filed against your property within the District that may result in a loss of title.
Also on Thursday, April 12, 2018 at 11:00 a.m. at the Offices of Highland Homes, 3020 S. Florida Avenue, Suite 101, Lakeland, Florida, 33803, the Board will hold a regular public meeting to consider any other business that may lawfully be considered by the District. The Board meeting and hearings are open to the public and will be conducted in accordance with the provisions of Florida law for community development districts. The Board meeting and/or the public hearings may be continued in progress to a date and time certain announced at the meeting and/or hearings.
If anyone chooses to appeal any decision of the Board with respect to any matter considered at the meeting or hearings, 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.
Any person requiring special accommodations at the meeting or hearings because of a disability or physical impairment should contact the District Manager's Office at (407) 382-3256 at least 48 hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service at 1-800-955-8770 for aid in contacting the District office.
TOWNE PARK COMMUNITY DEVELOPMENT DISTRICT
RESOLUTION 2018-05
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TOWNE PARK COMMUNITY DEVELOPMENT DISTRICT DECLARING SPECIAL ASSESSMENTS TO SECURE ITS ANTICIPATED SPECIAL ASSESSMENT BONDS; INDICATING THE LOCATION, NATURE AND ESTIMATED COST OF THOSE IMPROVEMENTS WHOSE COST IS TO BE DEFRAYED BY THE SPECIAL ASSESSMENTS, INCLUDING OFFSITE IMPROVEMENTS RELATED TO PHASE 3; PROVIDING THE PORTION OF THE ESTIMATED COST OF THE IMPROVEMENTS TO BE DEFRAYED BY THE SPECIAL ASSESSMENTS; PROVIDING THE MANNER IN WHICH SUCH SPECIAL ASSESSMENTS SHALL BE MADE; PROVIDING WHEN SUCH SPECIAL ASSESSMENTS SHALL BE PAID; DESIGNATING LANDS UPON WHICH THE SPECIAL ASSESSMENTS SHALL BE LEVIED; PROVIDING FOR AN ASSESSMENT PLAT; ADOPTING A PRELIMINARY ASSESSMENT ROLL; PROVIDING FOR PUBLICATION OF THIS RESOLUTION.
WHEREAS, the Towne Park Community Development District (“District”) is a local unit of special-purpose government located in the City of Lakeland, Polk County, Florida, and established pursuant to the Uniform Community Development District Act of 1980, as codified in Chapter 190, Florida Statutes (“Uniform Act”), by the City of Lakeland, Board of City Commissioners; and
WHEREAS, the Act authorizes the District to issue bonds for the purpose, among others, of planning, financing, acquiring, constructing, installing, operating, and/or maintaining certain infrastructure, including roadway improvements, stormwater management systems, landscaping, recreation and parks facilities, water and sewer systems and other infrastructure within or without the boundaries of the District; and
WHEREAS, the infrastructure improvements and facilities to be financed by the District are more specifically described and identified in the District's Preliminary Engineer's Report dated November 2014 (“Original Engineer's Report”), as amended by the First Amendment to Master Engineer's Report, dated March 2018 (the “Amended Master Engineer's Report”), adopted and confirmed by the District, attached hereto as Composite Exhibit A and incorporated herein by reference,; and
WHEREAS, the District previously issued its Towne Park Community Development District Special Assessment Bonds, Series 2016 in the par amount of $2,960,000 (the “Series 2016 Bonds”) and levied special assessments to the secure the Series 2016 Bonds (the “Series 2016 Assessments”); and
WHEREAS, pursuant to Resolutions 2015-09, 2015-10, 2015-17, and 2016-07 (the “Series 2016 Assessment Resolutions”), the District imposed Series 2016 Assessments on developable real property within the boundaries of the District to secure the Series 2016 Bonds in accordance with the District's Adopted Master Assessment Methodology dated January 21, 2015 (“Original Assessment Report”), as supplemented by the First Supplemental Assessment Methodology Report (Series 2016 Bonds, Assessment Area 1), dated June 3, 2016 (the “Series 2016 Assessment Report”); and
WHEREAS, the District hereby determines to undertake the installation and/or acquisition of infrastructure improvements for future phases of development which improvements include additional off-site infrastructure improvements for the area known as Phase 3 which are not contemplated by the Original Engineer's Report but are now set forth in the Amended Master Engineer's Report, the nature and specificity thereof, are more particularly described in Composite Exhibit A (“Improvements”); and
WHEREAS, it is in the best interests of the District to continue to pay the cost of the Improvements through the levy of special assessments pursuant to Chapters 170 and 190, Florida Statutes (the “Special Assessments”) to secure its special assessment bonds, which may be issued in one or more series, to be secured by the Special Assessments; and
WHEREAS, the District is empowered by Chapter 190, Florida Statutes, the Uniform Community Development District Act, and Chapter 170, Florida Statutes, Supplemental Alternative Method of Making Local and Municipal Improvements, and Chapter 197, Florida Statutes, to continue implementation of the Improvements and to levy the Special Assessments; and
WHEREAS, the District hereby determines that benefits have accrued and will continue to accrue to the property improved, the amount of those benefits, and that special assessments will be made in proportion to the benefits received as set forth in the District's Amended and Restated Master Assessment Methodology Report dated March 8, 2018 (the “Amended Assessment Report”), which is attached hereto as Exhibit B and incorporated herein by reference, and on file at the office of the District Manager, Fishkind & Associates, Inc., located at 12054 Corporate Boulevard, Orlando, Florida 32817; and
WHEREAS, except as specified herein, the Amended Assessment Report does not affect the previously adopted Series 2016 Assessment Report, the Series 2016 Assessments, and the assessment lien associated therewith on the lands referred to as the Phase 2A Lands; and
WHEREAS, this Resolution shall serve as the “resolution required to declare special assessments” contemplated by section 170.03, Florida Statutes, for the assessment lien(s) levied against certain property as described in Composite Exhibit A that collectively comprise the Special Assessments; and
WHEREAS, the District hereby determines that the Special 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 TOWNE PARK COMMUNITY DEVELOPMENT DISTRICT:
Section 1. The Special Assessments shall be levied to defray the cost of the Improvements.
Section 2. The nature and general location of, and plans and specifications for, the Improvements are described in Composite Exhibit A, and are on file at the District's Records Office and available for public inspection.
Section 3. The total cost of the Improvements is $43,697,950 (hereinafter, referred to as the “Estimated Cost”).
Section 4. The Special Assessments will collectively defray approximately $50,000,000 which includes a portion of the Estimated Cost together with financing related costs, capitalized interest, debt service reserve and contingency, as applicable. The lien for the Special Assessments will be allocated across all benefitted property to secure to the debt related to the District's special assessment bonds. Should the District issue additional bonds for the purpose of funding additional portions of the Improvements, and seek to levy assessments to secure such bonds, the District shall adopt additional resolutions declaring assessments as contemplated by section 170.03, Florida Statutes and conduct a public hearing on such assessments.
Section 5. The manner in which the Special Assessments shall be apportioned and paid is set forth in Exhibit B.
Section 6. The Special Assessments shall be levied, within the District, on certain lots and lands adjoining and contiguous or bounding and abutting upon such improvements or specially benefitted thereby and further designated by the assessment plat hereinafter provided for.
Section 7. There is on file, at the District Records Office an assessment plat showing the areas to be assessed, with certain plans and specifications describing the Improvements and the Estimated Cost of the Improvements, all of which shall be open to inspection by the public.
Section 8. Commencing with the year in which the Special Assessments are certified for collection, the Special Assessments shall be paid in not more than thirty (30) annual installments or the maximum period of time permitted by law then in effect. The Special Assessments may be payable at the same time and in the same manner as are ad-valorem taxes and collected pursuant to Chapter 197, Florida Statutes (the “Uniform Method”); provided, however, that in the event the Uniform Method is not available to the District in any year, or if determined by the District to be in its best interest, the Special Assessments, or any portion thereof, may be collected as is otherwise permitted by law. The decision to collect special assessments by any particular method - e.g., by direct bill or on the tax roll - does not mean that such a method will be used to collect special assessments in future years, and the District reserves the right in its sole discretion to select collection methods in any given year, regardless of past practices.
Section 9. The District Manager has caused to be made a preliminary assessment roll, in accordance with the Assessment Report, attached as Composite Exhibit B hereto, which shows the lands assessed, the amount of benefit to and the assessment against each parcel of land and the number of annual installments into which the assessment may be divided, which is hereby adopted and approved as the District's preliminary assessment roll.
Section 10. 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 therefor, or the amount thereof to be assessed against each property as improved.
Section 11. The District Manager is hereby directed to cause this resolution to be published twice (once a week for two (2) weeks) in a newspaper of general circulation within Polk County, Florida, and to provide such other notice as may be required by law or desired in the best interests of the District.
Section 12. This Resolution shall become effective upon its passage.
PASSED AND ADOPTED this 8th day of March, 2018.
Attest: TOWNE PARK COMMUNITY
DEVELOPMENT DISTRICT
_/s/Jane Gaarlandt________ _/s/D. Joel Adams__________
Secretary Chairperson,
Board of Supervisors
Composite Exhibit A: Engineer's Report dated November 2014
First Amendment to Master Engineer's Report dated March 2018
Composite Exhibit B: Amended and Restated Master Assessment Methodology dated March 8, 2018