Holly Hill Road East Community Development District
Est. 2017 Located In Polk County, Florida
The Holly Hill Road East Community Development District (“District”) is an independent special district, created pursuant to and existing under the provisions of Chapter 190 and Section 190.012(2)(A) & (D), Florida Statutes, and established by the City Commission of the City of Davenport’s approval of Ordinance No. 814, on July 10, 2017. Ordinance No. 841, effective on on March 5, 2018, amended to expand the District’s boundaries from approximately 97.22 acres to 111 acres more or less. Ordinance No. 864, effective on November 5, 2018, amends the acreage to 145.28 acres.
DISTRICT INFRASTRUCTURE AND PROPERTY
The District has issued its Series 2017 and Series 2018 Bonds (“Bonds”) to fund the construction and/or acquisition of stormwater management improvements, landscaping, utilities improvements, and roadway improvements.
DISTRICT ANNUAL BUDGETS
The District will annually approve both a Series 2017 and Series 2018 Bonds debt service budget and an operations and maintenance “O&M” budget. The Series 2017 and Series 2018 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 budgets for the District’s 2016-2017 and 2017-2018 fiscal year scan be found here: LINK
DISTRICT ANNUAL NON-AD VALOREM ASSESSMENT
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 and Series 2018 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)