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The Villages
Wednesday, September 27, 2023

PWAC 10-year forecast shows need to raise cap on amenity fees

Project Wide Advisory Committee members were presented Monday with a 10-year budget forecast and it seemed to convince several members that the “deferral rate” on amenity fees will have to be lifted.

PWAC collects funding from two distinct – and separate – sources. One is the Project Wide Fund, which includes money from Community Development Districts 5 through 11, collected from maintenance assessments paid by property owners. The other is the Sumter Landing Amenity Division Fund, which collects about 90 percent of its revenue from amenities fees paid by residents. Those fees pay for recreation centers, pools, executive golf courses, gates and Community Watch.

“The goal of this meeting is to provide a general overview of the Sumter Landing Amenities Division Fund to begin the process of developing a plan for addressing the fund balance and the impact of the deferred rate,” Budget Director Barbara Kays told PWAC members.

Her forecast showed that under the current amenity fee formula, the $72.86 million in revenue collected in 2018-2019 would only rise to $74.32 million in 2027-2028. Meanwhile, expenditures would rise from $67.81 million in 2018-2019 to more than $84 million in 2027-2028 as structures and facilities age and require more maintenance.

Dennis Hayes
Dennis Hayes

“Revenue is flat and expenses are going to go up,” observed PWAC member Dennis Hayes, who also serves as a Community Development District 8 supervisor.

Most of the rooftops under PWAC’s authority were purchased at the monthly $145 amenity rate.

With adjustments in line with the Consumer Price Index, it didn’t take long for many homeowners to reach the $155 “cap” on monthly amenity fees. Today, 63 percent of the rooftops within PWAC’s boundaries are at the $155 rate. That adds up to about 23,000 rooftops capped at the $155 rate. By the 2019-2020 fiscal year, it is expected to climb to 31,000 homes.

You can see Kays’ full report at this link: PWAC Workshop 03.11.19 – Final

Steve Brown

PWAC member Steve Brown wanted to know why the cap exists.

“Why do we have a ‘deferral rate’?” he asked.

He was told the deferral rate, or cap, exists so that homeowners can have an expectation that amenity fees cannot continue to rise without a limit.

Only 37 percent of the homes are at the capped rate in the areas north of County Road 466, which are under the control of the Amenity Authority Committee.

The AAC and PWAC will hold a joint workshop at 9 a.m. Wednesday, March 20, at the Savannah Center. This meeting will be to discuss the amenity fee deferral rate and will include an opportunity for public comment.

Last year, Villages Director of Development Robert Chandler IV sent a letter to to District Manager Richard Baier announcing an “adjustment” to the contractual amenity rate. You can read his letter at: Villages Developer Letter on amenity fees

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