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The Villages
Thursday, March 28, 2024

Wildwood budgets for rapid growth of 150 new homes per month

Wildwood’s 2017-18 budget, expected to be adopted at the end of the month, girds the city for rapid growth.

The proposed budget will tax property owners at the rolled-back rate of $4.02 per $1,000 assessed valuation, down from this year’s rate of $4.10. The rolled-back rate is the amount needed to collect the same revenue as the previous year.

Expenditures of about $38 million include $12.5 million in mostly capital costs including water and sewer investments as well as the city’s new police station planned at U.S. 301 and County Road 462 west.

The budget anticipates growth of 150 new homes per month, but up to 3,000 homes could be added next year. Commercial growth also is expected, especially in the Trailwinds Village development on the north side of County Road 466A.

General fund revenue will be $8.8 million with property taxes providing about a third or $3 million and about $3.6 million coming from the local option and fuel taxes.

The city expects to end this fiscal year with a general fund balance of nearly $6 million. General fund reserves of about $2 million equal about three months of operating revenue.

Utility rates will rise 3.6 percent next year after two consecutive 15 percent annual hikes. Projected revenue of $6.4 million actually will be a 10 percent decrease because a large utility user implemented conservation measures.

The city will invest $8.5 million in water and sewage services next year due mostly to The Villages massive Southern Oaks development south of State Road 44. The $1 million Oxford Water Treatment Plant will be funded through the state Environmental Protection Revolving Loan Fund.

A budget amendment is expected later to add more borrowed funds for the new police station. The city borrowed $3.6 million for the project last year.

Next year’s budget includes an increase of eight city employees including two additional police officers, bringing the department to 49, and a parks and recreation manager.

The budget also includes more improvements for the Wildwood Community Center, where the floor was replaced last year.

In a letter to the mayor and city commissioners, City Manager Jason McHugh and Clerk Cassandra Lippincott said the budget will “sustain quality services to the Wildwood community, while staging it in a position to be able to respond to emergency situations without jeopardizing the financial viability of the City as a whole.”

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