A Community Development District (“CDD” or “District”) is a local unit of special-purpose government, created pursuant to Chapter 190, Florida Statutes (“F.S.”), and is limited to the performance of those specialized functions authorized therein. The Highlands 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 Ordinance No. 03-28, enacted by the Board of County Commissioners for Hillsborough County, Florida on October 13, 2003. The District includes within its boundaries approximately 485 acres of land located in unincorporated Hillsborough County at the southeast corner of the intersection of U.S. Highway 301 and County Road 672 (Balm Road) with U.S. Highway 301 as the primary access point. At buildout, the District is planned to contain a total of 1,660 single-family residential units; 54,450 square feet of commercial space; 87,120 square feet of office space, as well as a 3,500 square foot clubhouse, pool, and recreational amenities. Development will occur in at least three phases. The first phase contains 627 platted residential lots and is substantially built-out. Phase 2A contains 159 platted lots and Phase 2B contains 214 platted lots. The remaining development is planned to take place at some point in the future.