-
-
Loading
Loading
NOTICE OF PUBLIC HEARING TO CONSIDER IMPOSITION OF SPECIAL ASSESSMENTS PURSUANT TO SECTION 13 OF CHAPTER 2005-338, LAWS OF FLORIDA, AS AMENDED, BY THE LAKEWOOD RANCH STEWARDSHIP DISTRICT
NOTICE OF PUBLIC HEARING TO CONSIDER ADOPTION OF ASSESSMENT ROLL PURSUANT TO SECTION 13 OF CHAPTER 2005-338, LAWS OF FLORIDA, AS AMENDED, BY THE LAKEWOOD RANCH STEWARDSHIP DISTRICT
NOTICE OF PUBLIC MEETING
The Lakewood Ranch Stewardship District's (the “District”) Board of Supervisors (the “Board”) will hold a public hearing at 9:00 a.m., on May 15, 2025, at the offices of Schroeder-Manatee Ranch, Inc., 14400 Covenant Way, Lakewood Ranch, Florida 34202. The public hearing is being held to consider the adoption of an assessment roll, the imposition of special assessments on certain benefited lands within the District known as the “Saddlestone Project” (the “Project Area”), and to provide for the levy, collection and enforcement of assessments securing bonds and/or notes issued to finance a portion of the cost of the acquisition and/or construction of the Saddlestone Project (hereinafter defined). The public hearing is being conducted pursuant to Chapters 170 and 197, Florida Statutes, and Chapter 2005-338, Laws of Florida, as amended.
The Project Area, geographically depicted below, is generally located in eastern Manatee County and on the east side of Bourneside Blvd., on the north side of 44th Avenue East, and south of State Road 64. The streets and areas to be improved are more specifically depicted in the Engineer's Report (hereinafter defined) and in the map below. The Saddlestone Project contemplates that construction and/or acquisition of stormwater management facilities, potable water, sanitary sewer improvements, and perimeter berm and landscaping improvements, all as more fully described in the preliminary Engineer's Report Saddlestone (the “Engineer's Report”), dated April 2025.
The District intends to impose assessments on benefited lands within the Project Area in the manner set forth in its preliminary Master Assessment Methodology Report Lakewood Ranch Stewardship District Saddlestone Project Area, dated April 11, 2025 (the “Assessment Report”), which is on file with the District and available during normal business hours at the address provided below.
The District expects to collect sufficient revenues to retire no more than $73,195,000 in principal amount of debt to be incurred by the District, exclusive of fees and costs of collection or enforcement, discounts for early payment and interest. The annual assessment levied against each parcel will be based on repayment over thirty (30) years of the total debt allocated to each parcel. 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 3501 Quadrangle Boulevard, Suite 270, Orlando, Florida 32817 and at the local records office located at 14400 Covenant Way, Lakewood Ranch, Florida 34202.
The proposed schedule of maximum principal debt to be allocated to the properties within the Project Area is as follows:
Land Use
Debt/Unit
Net Debt Service
Administrative Expenses
Total Debt Service
Townhomes
$25,063
$1,753
$132
$1,885
Villas
$45,113
$3,156
$238
$3,393
Single-Family 40'
$50,126
$3,506
$264
$3,770
Single-Family 50'
$62,657
$4,383
$330
$4,713
Single-Family 60'
$75,189
$5,259
$396
$5,655
Single-Family 75'
$93,986
$6,574
$495
$7,069
Source: PFM Financial Advisors LLC
(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 assessments will be collected on the Manatee County tax roll by the Tax Collector. Alternatively, the District may choose to directly collect and enforce the 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.
Also at 9:00 a.m. on May 15, 2025, at the office of Schroeder-Manatee Ranch, Inc., 14400 Covenant Way, Lakewood Ranch, Florida 34202, the Board will hold a public meeting to consider any other business that may lawfully be considered by the District. This Board meeting is open to the public and will be conducted in accordance with the provisions of Florida law for independent special districts. This Board meeting and/or the public hearing may be continued in progress to a date and time certain announced at the meeting.
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.
Any person requiring special accommodations at this meeting because of a disability or physical impairment should contact the District Office at (407) 723-5900 at least forty-eight (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.
LAKEWOOD RANCH STEWARDSHIP DISTRICT
RESOLUTION 2025-26
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE LAKEWOOD RANCH STEWARDSHIP DISTRICT DECLARING SPECIAL ASSESSMENTS; INDICATING THE LOCATION, NATURE AND ESTIMATED COST OF THOSE INFRASTRUCTURE IMPROVEMENTS WHOSE COST IS TO BE DEFRAYED BY THE SPECIAL ASSESSMENTS; PROVIDING THE PORTION OF THE ESTIMATED COST OF THE IMPROVEMENTS TO BE DEFRAYED BY THE SPECIAL ASSESSMENT; 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; ADOPTING A PRELIMINARY ASSESSMENT ROLL; AND PROVIDING FOR PUBLICATION OF THIS RESOLUTION.
WHEREAS, the Lakewood Ranch Improvement District (the “District”) is a local unit of special-purpose government located in Sarasota and Manatee Counties, and established pursuant to Chapter 2005-338, Laws of Florida, as amended (the “Act”) for the purposes of constructing, installing, acquiring, operating and/or maintaining public infrastructure improvements; and
WHEREAS, the Board of Supervisors (the “Board”) of the District hereby determines to undertake, install, plan, establish, construct or reconstruct, enlarge or extend, equip, acquire, operate, and/or maintain the infrastructure improvements (“Improvements”) within the portion of the District known as Saddlestone as more particularly described in that certain Engineer's Report Saddlestone, dated April, 2025, attached hereto as Exhibit A and incorporated herein by reference; and
WHEREAS, it is in the best interest of the District to pay the cost of the Improvements by special assessments levied on benefitted lands within the Saddlestone Project pursuant to Section 13 of the Act (hereinafter, the “Assessments”); and
WHEREAS, the District is empowered by the Act, and Chapters 170 and 197, 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; and
WHEREAS, the District hereby determines that benefits will accrue to the property improved, the amount of those benefits, and that special assessments will be made in proportion to the benefits received for lands within the Saddlestone Project of the District as set forth in that certain Master Assessment Methodology Report Lakewood Ranch Stewardship District Saddlestone Project Area, dated April 11, 2025, attached hereto as Exhibit B and incorporated herein by reference and on file at 14400 Covenant Way, Lakewood Ranch, Florida 34202 (the “District Records Office”); and
WHEREAS, the District hereby determines that the Assessments to be levied will not exceed the benefits to the property improved; 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 the property as described in Exhibits A and B that secure the Assessments.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE LAKEWOOD RANCH STEWARDSHIP DISTRICT:
1. The Assessments shall be levied to defray the cost of the Improvements.
2. The nature and general location of, and plans and specifications for, the Improvements are described in Exhibit A, and are on file at the District Records Office. Exhibit B is also on file and available for public inspection at the same location.
3. The total estimated cost of the Improvements is $58,087,779 (the “Estimated Cost”).
4. The Assessments will defray approximately $73,195,000 which includes the Estimated Cost, plus financing-related costs, capitalized interest, and debt service reserve.
5. The manner in which the Assessments shall be apportioned and paid is set forth in Exhibit B.
6. The Assessments shall be levied within the Saddlestone Project of the District on all 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.
7. There is on file, at the District Records Office, an assessment plat showing the area 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.
8. Commencing with the year in which the Assessments are confirmed, the Assessments shall be paid in not more than (30) thirty annual installments. The Assessments may be payable at the same time and in the same manner as are ad-valorem taxes and collected pursuant to the Act and Chapter 197, Florida Statutes; provided, however, that in the event the uniform non ad-valorem assessment method of collecting the Assessments is not available to the District in any year, or if determined by the District to be in its best interest, the Assessments may be collected as is otherwise permitted by law.
9. The District Manager has caused to be made a preliminary assessment roll, in accordance with the method of assessment described in Exhibit B hereto, which shows 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 may be divided, which is hereby adopted and approved as the District's preliminary assessment roll.
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.
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 Manatee and Sarasota Counties and to provide such other notice as may be required by law or desired in the best interests of the District.
12. This Resolution shall become effective upon its passage.
PASSED AND ADOPTED this 11th day of April, 2025.
ATTEST: LAKEWOOD RANCH STEWARDSHIP
DISTRICT
/s/ Jane Gaarlandt /s/ Rex Jensen
Secretary/Assistant Secretary Rex Jensen, Chairman
Exhibit A: Engineer's Report Saddlestone, dated April 2025
Exhibit B: Master Assessment Methodology Report Lakewood Ranch Stewardship District Saddlestone Project Area, dated April 11, 2025
April 25; May 2, 2025 25-00646M