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The Coco Palms Community Development District (the “District”) is a local unit of special-purpose government of the State of Florida established in accordance with the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended and by Ordinance No. 15-123 of the Board of County Commissioners of Miami Dade County, Florida (the “County”), effective November 13, 2015. The District lands consist of approximately 91.43 gross acres located entirely within the unincorporated area of the County and when developed it is contemplated that there will be a total of 743 residential dwelling units of various product types. The District is governed by a five-member Board of Supervisors made up of landowners in the District. The District anticipates issuing Special Assessment Bonds in early 2016 (the “Bonds”) in one or more series to pay for all or a portion of the public infrastructure improvements being installed in the District. All property owners within the District will be subject to annual special assessments which are broken down into two (2) components:
- The operation and management of the public improvements.
- Bond debt service (annual principal and interest) on the Bonds.
The District intends to use the Miami-Dade County Tax Collector to collect the assessments each year, when applicable. The special assessments will appear under the non-ad valorem tax section of the real estate property tax bill. The District’s fiscal year runs from October 1 thru September 30 of each respective year.