The Community Development District 13 Board of Supervisors on Thursday afternoon approved the Phase III development which will add 2,404 homes in The Villages.
Lee Clymer of the Clymer Farner Barley engineering firm said the estimate for District-eligible construction costs of Phase III is $120.4 million of which $71 million will be funded by bonds and $49.4 million or the remainder not funded in the construction fund is anticipated to be funded by The Villages Land Company.
The Phase III development will cover 791 acres.
Permits to provide overall grading, stormwater treatment, flood protection, and drainage for CDD 13, including the Phase III development, have been issued by the Southwest Florida Water Management District. Subsequent design and permitting of certain Phase III components have been completed, with approvals received from the City of Wildwood, the Florida Department of Environment Protection and SWFWMD to allow construction to commence on the initial Phase III infrastructure. All other permits necessary to complete the remaining portion of Phase III infrastructure are anticipated to be obtained in the ordinary course of the development of Phase III Project, Clymer added.
There will be a total of 8,062 homes in CDD 13 after Phase III is completed.