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Commission approves first reading for Main Street CDD ordinance, staff to refine terms
Summary
The City Commission gave first reading on an ordinance to create a Community Development District (CDD) for the Main Street at Coconut Creek project, a petitioner‑driven special district proposed to finance and manage public infrastructure within the roughly 85‑acre development.
The City Commission gave first reading on an ordinance to create a Community Development District (CDD) for the Main Street at Coconut Creek project on March 13, 2025. The petition, filed by GSRRE Partners, LLC, covers approximately 85 acres in the city’s regional activity center and lists an estimated $84 million in public infrastructure improvements that could be financed, constructed and maintained by the proposed CDD.
City staff and the petition attorney explained the CDD’s purpose and limits. Ginger Walt (counsel for the petitioner) and city staff said a CDD is a special-purpose unit of local government authorized by Florida law to issue tax-exempt bonds for public infrastructure and levy non-ad valorem special assessments on properties that receive benefit. The petition lists certain city-owned assets that the CDD may help develop or finance in partnership with the city, including the Village Green Park, Lakeside Plaza Park, and the proposed public parking garage in the civic node.
Staff noted the petition met the minimum submission requirements of section 190.005 of the Florida Statutes and that detailed interlocal agreements and a development agreement would be required later to define the city’s relationship to CDD-funded work. The commission asked for clarity on how much of the $84 million would be passed to property owners; petition counsel and finance staff said the final assessment schedule depends on future bond sizing and phasing, and that the petition included an estimate table for prospective buyers showing sample annual capital and operations assessments (staff referenced sample figures included in the petition and supplemental grid). Council members asked staff to ensure the sales disclosures and the informational brochure for prospective buyers fully describe expected first-year tax-bill impacts, and staff confirmed the developer must include statutory disclosures and that estimated assessment numbers will be provided to buyers.
Other details discussed: the estimated cost for the public parking garage shown in materials had been increased at the city's request from $9 million to $11 million to reflect design and screening features; initial CDD supervisors are named in the petition but a landowner election is required within 90 days and the CDD converts to resident-elected boards once statutory thresholds are met. Staff and counsel emphasized CDD transparency obligations under Florida’s sunshine and special-assessment statutes and that the district manager and publicly available website will offer information for prospective purchasers.
Action: Commissioner Wasserman moved and Commissioner Bridal seconded first reading of the ordinance; the roll call recorded in the transcript excerpt shows Riedell, Wasserman, Brody, Vice Mayor Railey and Mayor Welch voting in favor on first reading.
