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Residents, HPCA and CDD discuss multi-purpose building; CDD names liaison and outlines financing constraints
Summary
HPCA leaders and residents presented a conceptual multi-purpose building and engineering plan; the HPCA will spend an estimated $15,000 on engineer drawings for SWFWMD permitting, and the CDD designated Supervisor Stephen Putman as liaison while staff outlined tax-exempt financing limits and repayment mechanics if the CDD participates.
Residents and the Heritage Pines Community Association (HPCA) presented a proposed multi-purpose building project during audience comments on April 15, 2025, and requested a joint workshop with both boards to review engineering and financing. HPCA President Gary Farley said the HPCA plans to spend an estimated $15,000 for the District Engineer to prepare site and underground drawings for submission to the Southwest Florida Water Management District (SWFWMD).
District Manager Chuck Adams told the board that engineering drawings at roughly 60% completion are needed for the District Engineer to produce cost opinions and that those cost opinions will inform whether the CDD should participate financially. Mr. Adams explained distinctions between "horizontal" infrastructure (sidewalks, curbs, gutters, drainage, water and sewer), which the CDD can accept, and "vertical" infrastructure such as buildings that create a destination and raise tax-exempt financing issues. He said taxable financing is an alternative and noted tax-exempt borrowing generally saves "up to 200 basis points" on interest.
Board and residents discussed ownership and reimbursement mechanics. Mr. Adams said the CDD could reimburse the HPCA for agreed infrastructure if the CDD receives equivalent value in return and described how the CDD would secure a private placement note (five-year term was given as an example) and collect annual repayment obligations through assessments budgeted in a Special Revenue Fund. Farley said the HPCA Ad-Hoc Committee's 30-page report and a conceptual design are posted on the HPCA website; the HPCA expects to submit permit application drawings to provide the CDD sufficient drainage information for cost opinions. The board reached consensus to name Supervisor Stephen Putman as the CDD liaison to the HPCA.
