Community Development District

The Eastlake Oaks Community Development District (CDD) is a special purpose unit of local goverment which was created by the City Council of the City of Oldsmar, Florida on October 3,1995, pursuant to Chapter 190 of Florida Statues.

Eastlake Oaks CDD was established to finance the construction and maintenance of the community infrastrucure, and landscaping for the Eastlake Oaks Development.

It is governed by a board of five supervisors initially elected by the property owners within the CDD. Thereafter, as provided by state law and District's Charter, the Board of Supervisors will be elected by the majority vote of homeowners within the Eastlake Oaks CDD. A District manager will oversee the day-today operations of the Eastlake Oaks CDD.

Supervisors are elected public officials.

The Eastlake Oaks CDD was created to enable the community to offer a higher standard of infrastructure, amenities, and landscaping, while providing residents with the assurance that the community maintenance standards will continue long after the developer has complited the community systems. The Eastlake Oaks CDD will plan, construct, acquire, operate and maintain systems or facilities such as:

1) stormwater management system of ponds and wetlands
2) management and drainage
3) wetland preservation areas
4) water mains and distribution lines
5) landscape medians and buffer areas
6) reclamied water irrigation system
7) sanitary sewer lines and collection systems
8) entry walls and landscaping
9) park and recreation areas (community pool and park)

The CDD's actual maintenance responsibilities will be mostly associated with landscaped maintenace and the cost of maintaining the communities recreational facilities.

The Eastlake Oaks CDD is funded through an assessment which will appear on your tax bill.

The Eastlake Oaks CDD finances the reclamed water irrigation system that runs throughout the Eastlake Oaks Development. This could result in a monthly savings on irrigation cost for the property owners who install an irrigation system in their yard. In addition to the direct cost savings, the reclamied water system customers are not expected to fall under the same use restrictions other water customers have. Therefore as water restricitions become tougher, Eastlake Oaks property owners should continue to be able to water their yard. Eastlake Oaks landscaping will remain lush in apperance, while other developments may be faced with water restricitons.

The CDD levies an assessment to each homeowner. The capital assessment is for debit service to repay bonds which were issued by the CDD to build the infrastructure within the community the amount is $592.00 per year for each lot in the subdivision. This amount is fixed for 20 years beginning with the 1997 tax year. This fee will never go up. The annual bond portion of the bond will remain fixed over the 20 year period amoritaztion period of the special assessment improvement on Revenue Bonds Series 1995.

The CDD bond part can be paid off by any individual lot owners at aytime.

The operations and maintenance portions of the assessment will fluctuate up or down from year to year, depending on such things as annual negotiated maintenace contracts. These assessments are levied to operate and maintain the infrastructure improvements including common areas and recreational facilities.

The CDD assessment fees are collected every year by the Pinellas County Tax Collector described on the real estate tax bill as Special District Assessment to the CDD.

Thw CDD retains a management firm to provide management consulation, accounting, recording secretarial and contract administration services and to keep the CDD in compliance with the complex regulatory standars of state law.

The CDD has a District Engineer who provides technical programming and guidance to the Board of Supervisors for all roads, stormwater management, water, sewer and other techinical requirements.

The CDD also retains it's own attorneys.

The CDD has an open communication policy. Residents can phone their Supervisors or District Manager to discuss relevant District issues.

The Board of Supervisors meets bimonthly. Residents can attened these public meetings and comment on District matters.

The minutes and related documents are public records.

The CDD's fiscal year runs from October 1st through September 30th of each year. The District issued a series of 20-year municipal bonds to finance the construction of the community infrastructure. The Board adopts the upcoming
year's budget after a public hearing each summer. Assessments are collected annually through the tax collector. Every year on Novemeber 1st, the tax collector sends out county property tax bill to every Eastlake Oaks landowner for his propritonate share of (1) the annual operations and maintenance expenses and (2) the annaul amortized payment on the debt to payoff the bonds.

1. New pool gate and resurfacing of deck pool
2. New lighting system installed at ELO sign and new landscape lighting at main entrance
3. Installation and reapir of reclamied water irrigation system
4. Community wall was repaired. power washed, primed and painted
5. New landscaping along Tampa Rd.
6. New pool furniture
7. New pool keys