The SWI Community Development District (“District”) is an independent special district, created pursuant to and existing under the provisions of Chapter 190, Florida Statutes, and established by the City of Port Orange’s approval of Ordinance No. 2007-52, on October 2, 2007. The District includes within its boundaries approximately 73 gross acres of land located on the east side of South Williamson Blvd., approximately 650 ft north of its intersection with Taylor Road within the City of Port Orange in Volusia County, Florida. The District is planned to contain 575,692 square feet of commercial retail and office space.
A map of the District’s boundaries can be found here: LINK
District Infrastructure and Property
The District issued its Series 2010 Note, with a par value of $14,300,000, to fund public infrastructure improvements providing a benefit to the property owners located within the District. It is expected that debt service on the Series 2010 Note will be funded by the collection of a 1.0% public infrastructure fee (“PIF”) on all taxable sales occurring within the District.
District Annual Budgets
The District will annually approve an operations and maintenance “O&M” budget. The budget is currently funded pursuant to the terms of a developer funding agreement.
Community Development Districts are required to annually submit a financial audit report to the Florida Auditor General