DAVENPORT ROAD SOUTH COMMUNITY DEVELOPMENT DISTRICT

Background 

The Davenport Road South Community Development District (“District”) is an independent special district, created pursuant to and existing under the provisions of Chapter 190, Florida Statutes, and established by the City Commission of the City of Davenport’s approval of Ordinance No. 802, on December 12, 2016. The District includes within its boundaries approximately 73 acres.

A map of the District’s boundaries can be found here: LINK

District Infrastructure and Property

The District intends to issue its Series 2017 Bonds (“Bonds”) to fund the construction and/or acquisition of stormwater management improvements, landscaping, utilities improvements, and roadway improvements.

(A map of District-owned property can be found here: LINK)

District Annual Budgets 

The District will annually approve both a Series 2017 Bonds debt service budget and an operations and maintenance “O&M” budget.  The Series 2017 Bonds require level annual debt service and so the bond debt service budget will not vary substantially from year-to-year.

The adopted O&M budget for the District’s 2016-2017 fiscal year can be found here: LINK

District annual Non-Ad Valorem Assessments

The District annually collects from property owners within its boundaries both a bond debt service assessment and an O&M assessment.  The bond debt service assessment helps amortize the District’s Series 2017 Bonds.  The O&M assessment funds the District’s annual O&M activities.

(A schedule of the District’s annual non-ad valorem assessments can be found here: LINK)