Heritage Harbour South Community Development District

The Heritage Harbour South Community Development District (CDD South) is a government district that was established by Manatee County in 2001 under Florida Statue Chapter 190. The CDD South base includes all of Stoneybrook, Stoneybrook Golf Course, Lighthouse Cove, a commercial parcel, and the large athletic fields that are located between Stoneybrook and Lighthouse Cove. This includes an area of approximately 980 acres and contains all of the wilderness areas, storm retention ponds, roads, street lighting and irrigation systems which are all part of the total community.

Organizational Structure

The daily business contact for CDD South is conducted by its District Manager James Ward who is a part time employee.  He can be reached at (954) 658-4900 (ward9490@comcast.net) or by mail at 513 Northeast 13th Avenue, Ft. Lauderdale, FL, 33301.  He reports to the five elected Supervisors of the District.

W. Lee Bettes (Chairman) and Homeowner
Rosalie Ann Celio (Vice-Chair)
Rick Lane  Homeowner
Tony Burdett  Lennar representative
Joseph (Joe) Jaudon  Homeowner

Responsibilities of CDD South

As the government body for CDD South  money may be borrowed by issuing bonds and  property owners are assessed.  Starting in 2002 the CDD South borrowed $37,315,000 and $7,380,000 and used the money to build most of the infrastructure contained within Stoneybrook and the athletic fields.  As the individual properties were sold in Stoneybrook some of the money from each sale was used to pay off the $37,315,000 debt.  The $7,380,000 debt remained and this remaining debt is the collective responsibility of the Stoneybrook property owners, the golf course and commercial property.

In 2003 the CDD South borrowed $8,080,000 and $2,235,000 to build the balance of the infrastructure and repaid the $8,808,000 debt through property sales.  This $2,235,000 debt still remains and is the collective responsibility of the parcel owners in Lighthouse Cove.

Current Financial Obligations of CDD South

The following three funds of CDD South have financial obligations:

1. The Government Fund which is the general expense and overhead of CDD South and is an on going expense of about $95,000 a year and is shared equally by all of the property owners in CDD South.

2. As of October 1, 2009, the Stoneybrook debt was $7,150,000 with a fixed 6.5% interest rate which is callable in 2013 and matures in 2034.  In 2010 this debt requires $120,000 principal debt payment and an additional $464,750 interest payment.  Over time the principle debt payment increases as the interest payment decreases.

3. As of October 1, 2009, the Lighthouse Cove debt was $2,120,000 with a fixed 6.2% interest rate. This is callable in 2014 and matures in 2035.  In 2010 this debt requires a $35,000 principal debt payment and an additional $131,440 interest payment.  Over time the principle debt payment increases as the interest payment decreases.

CDD South is responsible for collecting enough money through property assessments to make yearly payments on the debt and pay for the maintenance and subsequent replacement of infrastructure assets.  CDD South is not permitted to have a police force, zoning board, fire department or other government services that are normally reserved for the Manatee County government.