The real estate group behind the Ridge at Heathbrook, the new 390-home residential housing project approved by city officials last year, is hoping the city will approve the a reclassification.
Forestar Real Estate Group Inc. will petition the City of Ocala to establish the Ridge at Heath Brook as a Community Development District during the next meeting of the Ocala City Council.
The project, which is broken up into different phases, will initially begin with 135 residential units. Eventually, the community will expand to 391 residential units.
A community development district, or CDD, is a special-purpose government framework that is authorized under Section 190 of the Florida Statutes. In The Villages, CDDs are the dominant form of local government, and are comprised of elected supervisors who regularly vote on matters pertinent to the community, its amenities, and its residents.
The financial incentives that CDDs offer to cities have led a multitude of local municipalities, like Lady Lake, Leesburg, Fruitland Park, and Wildwood, to enter into agreements in an attempt to improve infrastructure, landscaping, and overall property values.
The partnership between a city, a CDD, and a developer is one that generally benefits all parties.
If the city approves the reclassification, the Ridge at Heathbrook CDD would enter into a partnership with the city that might see the CDD commit over $7 million in landscape irrigation, roadway, stormwater, and sewer improvements.
According to the company’s proposal, if approved, the CDD will provide a proposed budget to the city of Ocala annually at least “60 days prior to adoption.”
The CDD reclassification will be introduced to the Ocala City Council during their June 1 meeting. For more information on how to attend that meeting, visit the city of Ocala website.