Hi, Friends and neighbors -
It has been a while since I last blogged about the district meetings. Mostly, because there really didn't seem to be much "meaty news" in the proceedings for a while. There has been a lot of general business stuff (like authorizations to pay vendors' bills, work orders, formal process requirements of items already addressed, and these kind of things), but not much of anything truly noteworthy at the ones I have been able to attend...until recently...
Most homeowners, if not all, that live in the district have by now received a notice in the mail about the bond funds being refinanced. From talking to neighbors, there does seem to be quite a bit of concern, confusion, and questions out there about it. So, let me just give a brief summary of the basic plan and what it means.
It was said outright at the last West Villages Improvement District Supervisory Board meeting on June 29th that individual residents' annual assessments are to remain the same and have the same maturity date. The plan is to refinance the bonds at terms more favorable to the district, so as to increase the total volume of funds that are available for various projects and services needed to improve the district. There will be more money for the district to use for operations and improvements, irrigation improvements for one, but not costing residents more in the process.
A public hearing is required for them to move forward on this. It was suggested and set to occur with the next regular board meeting on August 10th. These are generally held at North Port City Hall off Sumter beginning at 11am.
Hope that helps clarify some, and hope to see you at the next meeting!
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Ali H. Johnston, MHA, MBA in Real Estate
Realtor®, Lic. Broker #BK3284964
West Villages Realty LLC