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Keys Gate-Homestead Florida

Old 04-28-2007, 11:47 AM
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Default Keys Gate-Homestead Florida

Looking for any comments on Keys Gate in Homestead, looking at some property there and from what I gather it is only one of the few new communities that does not have a CDD adder.

Any other suggestions for a single family home in a gated community between Key Largo and Miami would be appreciated......

I spoke to couple of realtors and even they were not sure so I thought I throw it out here to see if anybody has any comments or experience.

TIA
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Old 04-29-2007, 12:49 AM
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Default Re: Keys Gate-Homestead Florida

What is a CDD adder?
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Old 05-02-2007, 04:49 PM
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Default Re: Keys Gate-Homestead Florida

CDDs were created to shift the burden of building roads and utility lines away from cash-starved municipal and county governments. The massive costs of building the infrastructure are financed by the developer with a key CDD incentive: tax-free municipal bonds.

The bonds pay for not only roads and utilities, but also amenities such as clubhouses, pools, tennis courts and golf courses that entice middle-class buyers yearning for a more lofty lifestyle.

Rather than paying everything up front, homeowners pay the ultimate costs for the amenities over a span of 15 to 30 years.

A five-member CDD board, chosen by the developer, issues the bonds and levies taxes and assessments on the homeowners, who pay the added fees along with their county and city taxes. It is only when most of the homes in a development are sold, and all the crucial initial decisions have already been made, that homeowners can begin to sit on the board.

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