Community Development District 10 supervisors on Monday approved a budget that will raise by 8 percent maintenance assessment rates paid by residents.
The board approved a $3.5 million budget for the 2021-22 fiscal year during the meeting at Savannah Center.
It marks CDD 10’s first maintenance assessment increase since the 2013-14 fiscal year, Budget Director Barbara Kays noted.
CDD 10 Board Chairman Don Wiley said the board intends to raise the level of reserve funding as the district ages. CDD 10 is responsible for maintenance and upkeep of the roads in its villa communities.
Wiley said the board did not want to increase the assessment rate, but concluded it is the responsible thing to do for the future financial stability of CDD 10.
“We don’t want to be Sumter County. They didn’t save for the resurfacing of Morse and Buena Vista. That’s why we had the big 25 percent increase. We aren’t going to do that,” Wiley said.
Supervisor Christine Bradshaw noted that she owns a home valued at more than $400,000. She said the increase will cost her an additional $45 per year.
“We didn’t want to do what the county did,” Bradshaw said, echoing the sentiments of the board’s chairman.
The largest increase will be for owners of premier homes. That increase should be about $85 per year.
Several residents attended the budget hearing and posed questions, but appeared to be satisfied with the board’s explanation of the need for the increase.
