The Community Development District 9 Board of Supervisors wants to look at drawing down its more than $13 million in reserve.
The CDD 9 board on Thursday agreed to discuss the topic at the April board meeting as well as a May budget workshop.
The board’s Vice Chairman Don “Smoke” Hickman for months has been prodding his fellow board members to take a look at the hefty cash reserves that have been accumulating.
Village of Gilchrist resident Dan Warren has also spoken out before the board and indicated he thinks the supervisors could stop stockpiling cash and offer financial relief to residents by lowering their maintenance assessment rates.
Supervisor Michael Dollard said he thinks CDD 9’s reserve assets may be too high.
“I would like to see a plan for bringing down that fund balance,” he said.
CDD 9 is part of the Project Wide Advisory Committee which shares in infrastructure costs and prevents the kind of fiscal nightmare experienced in Community Development District 4 when destructive sinkholes opened up in February 2018. CDD 4 had to raise its maintenance assessment rate by 20 percent.
Last year, the CDD 9 board adopted a 2020-21 operating budget of $3.9 million, which held the line on maintenance assessment rates and offered a decrease to many homeowners. You can see the budget document at this link: CDD 9 budget document
