Century Gardens 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.03-150 of the Board of County Commissioners of Miami Dade County, Florida (the “County”), effective June 27th 2003. The original boundaries of the District were expanded pursuant to Ordinance No.06-188, effective December 19th 2006. The District lands now consist of approximately 89.507 (+/-) gross acres located within the unincorporated area of the County and were developed as a residential community consisting of 401 single family residential home units. The entire Development was financed in two distinct phases. For clarification purposes the District is not a Homeowners Association.
The District is governed by a five-member Board of Supervisors (qualified electors) elected during the general election process by qualified electors of the District. The District originally issued Special Assessment Bonds, Series 2004 (the “Bonds”) and imposed taxes and/or assessments on all assessable property in the District to pay off the Bonds issued to finance the installation and construction costs of the public infrastructure improvements. The Expansion Units issued Special Assessment Bonds, Series 2007 (the “2007 Bonds”) and imposed taxes and/or assessments on all assessable property in the District to pay off the Bonds issued to finance the installation and construction costs of the public infrastructure improvements. In 2014, the District refinanced the Original Unit Bonds to reduce the interest rate and pass on a portion of the savings to the property owners of the Original Units. The Special Assessment Refunding Bonds, Series 2014 (the “2014 Bonds”) will mature in May of 2037. All property owners within the District will be subject to annual assessments which are broken down in two (2) components:
- The operation and management of the District owned improvements
- Bond debt service (annual principal & interest) on the (2014) Bonds.
The District utilizes the Miami-Dade County Tax Collector to collect the assessments each year. The annual assessments 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.