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Board approves Serona community development district; staff says up to $19.8M in improvements possible
Summary
The Board adopted Ordinance 26-002 establishing the Serona Community Development District (CDD), which can issue tax-exempt bonds and levy non-ad valorem assessments to finance public improvements. Staff said the petition estimates approximately $19,800,000 in infrastructure improvements.
The St. Lucie County Board of County Commissioners voted to adopt Ordinance 26-002, establishing the Serona Community Development District (CDD) in unincorporated county. County Attorney Catherine Barbieri presented the ordinance and staff recommended approval; the petitioners representative summarized the CDD powers and the obligations that accompany formation.
What a CDD means: As explained at the hearing, a CDD is an independent special district formed under Chapter 190 of the Florida Statutes. It can finance, construct, own…
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