Residents jam packed a more than three-hour meeting Tuesday morning in which the Amenity Authority Committee debated the possibility of restoring a cap on amenity fees.
The crowd was large enough that Recreation Department staffers had to leap into action and take down walls to enlarge the Ashley Wilkes room to accommodate the many residents attending the highly anticipated meeting in which the AAC was to delve into the red hot topic of amenity rates.
Legal counsel Kevin Stone opened with a lengthy presentation on the history of amenity rates. He concluded that it is his opinion that the AAC, which oversees amenities north of County Road 466, cannot reinstate a cap (also known as the deferral rate) unless the Project Wide Advisory Committee, which oversees amenities south of County Road 466, agrees to bring back the cap, too.
However, Don Deakin, the longest-serving member of the AAC, said he “respectfully” disagreed with Stone’s opinion. Deakin said he believes the AAC has the authority to reinstate the cap and is not required to be in lockstep with PWAC. Both the AAC and PWAC agreed to get rid of the cap in 2019.
“I want to go on record stating that it is my firm opinion that we can do it,” Deakin said.
The financial outlook is as different as night and day for the AAC and PWAC.
The AAC will pay off its bonds in 2036. PWAC has a heavy load of debt and just took on the responsibility for additional amenities in Community Development District 12 and Community Development District 13.
“We have our budget, our revenue, and expenses and bonds. They have their own budget, revenue, expenses and bonds,” Deakin said.
He said the AAC’s fund balance is rising by about $11 million per year, thanks to increasing amenity rates due to hikes in line with the Consumer Price Index.
“People are worried about spending $20 million to rebuild Paradise. We will get that money back in two years,” Deakin said.
He questioned the wisdom of building up a huge bank balance at the expense of residents.
“Hopefully we will find a way to get our residents some relief,” Deakin said.
The AAC could not take a vote in the workshop session, but could do so in an upcoming meeting.
Let them know how you feel by sending a Letter to the Editor at [email protected]