PASCO COUNTY, FLORIDA

INTEROFFICE MEMORANDUM

TO: Honorable Chairman and DATE: 8/21/2002 FILE: CAO-02-2514

Members of the Board of

County Commissioners

THRU: Robert D. Sumner SUBJECT: Introduction of proposed Ordinance

County Attorney Establishing the Seven Oaks

Community Development District II

BOCC Date: 8/27/02; 9:30 a.m.; NPR

FROM: W. Elizabeth Blair REFERENCES: Chapter 190, Florida Statutes;

Assistant County Attorney Comm. Dist. 2

Planning Dist. 5

It is recommended that the data herein presented be given formal consideration by the Board of County Commissioners.

DESCRIPTION AND CONDITIONS:

Community Development Districts (CDD) are independent special districts authorized pursuant to Chapter 190, Florida Statutes, as a mechanism to manage and finance basic community development services. CDDs under 1000 acres in size are created by counties through ordinances which provide for general and special powers for public improvements and community facilities. Additional special powers may be conferred to an established CDD board for parks, recreation, fire prevention, schools, security, mosquito control, and waste collection and disposal. CDDs once established are public agencies, and therefore, are subject to financial disclosure, accountability, ethical and the sunshine law requirements which apply to governmental entities.

CDDs are authorized by Chapter 190 to issue bond anticipation notes, bonds, and levy and assess ad valorem taxes. The future residents and/or owners of land within the CDD then make the payments with revenue gained by the levy of special assessments and ad valorem taxes (CDDs are held to a three mill cap) to retire the bonds and to pay the operating expenses of the CDD. A disclosure statement must be furnished to all buyers, and contracts for the sale of property within the CDD must contain information about the CDD.

On April 20, 2002, representatives for SB Associates I Limited Partnership submitted a petition to the Growth Management Department to establish the Seven Oaks II CDD pursuant to Chapter 190. Seven Oaks is located in southern Pasco County, bounded by County Road 581 to the east and Interstate 75 to the west. The land area to be served by the CDD is currently several parcels of unimproved real property containing approximately 834 acres. The landowners, SB Associates, have given written consent to establish the CDD. Today is the introduction of the petition to establish the Seven Oaks CDD II.

ALTERNATIVES AND ANALYSIS:

1. Introduce the ordinance establishing the Seven Oaks Seven Oaks CDD II.

2. Do not introduce the ordinance establishing the Seven Oaks CDD II at this time and refer it to staff for further review.

3. Direct staff as to another course of action.