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About the District
Walnut Creek Community Development District (the “District”) which 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. 2000-11(1339), of the Board of County Commissioners of Broward County, Florida (the “County”), effective June 7th 2000. District lands consist of approximately 227 (+/-) gross acres within the County and were developed as a residential community consisting of single family homes and townhomes, totaling 895 units. Walnut Creek is a restricted access gated community constructed approximately in the year 2001.
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 issued Special Assessment Bonds, Series 2000 (the “Bonds”) and has 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 2008 the District refinanced the Bonds to reduce the interest rate and pass on a portion of the savings to the property owners. The Special Assessment Refunding Bonds, Series 2008 (the “2008 Bonds”) are to mature in May of 2021. In 2010, the District Issued Bonds to pay for necessary infrastructure correction work/capital improvements. The Special Assessment Bond, Series 2010 (the “2010 Bonds”) is scheduled to mature in May of 2035. All property owners within the District will be subject to annual assessments which are broken down in three (3) components:
- The Operation and Management (O&M) of the District owned improvements
- Bond debt service (annual principal & interest) on the (2008) Bonds.
- Bond debt service (annual principal & interest) on the (2010) Bonds.
The District utilizes the Broward 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.