BACKGROUND

The Grove Resort Community Development District (“District”) is an independent special district, created pursuant to and existing under the provisions of Chapter 190, Florida Statutes, and established by the County Commission of Ordinance 2016-29 on December 5, 2016. The public purpose of the District is to finance and manage the acquisition and construction, maintenance, and operation of public infrastructure and other public facilities within the boundaries of the District. The District includes within its boundaries approximately 105.69 acres.  A map of the District’s boundaries can be found here: PDF | RTF

DISTRICT INFRASTRUCTURE AND PROPERTY

The District issued its Series 2017 A and 2017 B Bonds (“Bonds”) to fund the construction and/or acquisition of stormwater management improvements, landscaping, utility improvements, and roadway improvements.

DISTRICT ANNUAL BUDGETS

The District will annually approve both a 2017 A and 2017 B Debt Service Budget and an Operations and Maintenance “O&M” budget. The Series 2017A and 2017B Bonds require level annual debt service and so the Bond Debt Service Budget will not vary substantially from year-to-year.

DISTRICT ANNUAL NON-AD VALOREM ASSESSMENTS

The District annually collects from property owners, within its boundaries, both a Series 2017A bond debt service assessment and an O&M assessment. The bond debt service assessment helps amortize the District’s Series 2017A Bonds. The O&M assessment funds the District’s annual O&M activities. These will be collected on the county property tax bill, beginning November 2018.  The Series 2017B Bond assessments will be collected at each initial unit sale and closing.