A Community Facilities District (CFD) and/or ID (Improvement District) are special districts formed for the purpose of financing acquisition, construction, operation and maintenance of the public infrastructure benefiting the planned community.
For the purpose of financing, the CFD/ID may utilize two types of bonds: district special assessment lien bonds and general obligation bonds. District special assessment lien bonds are repaid through semi-annual assessment payments made by the property owners within the district. General obligation bonds are repaid by ad valorem, or property taxes on the taxable property within the CFD. Examples of infrastructure financed include, but are not limited to, the following:
- Roadways & Parking
- Water & Sewer Lines
- Parks & Open Space
COMMUNITY FACILITIES DISTRICT
For CFD's: The June 1st installment due will include principal, interest and administrative fees, and the December 1st installment due will be interest and administrative fees. The life of the bond payments is approximately 20-25 years.