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Wyld Palms wants its own tax district
Inverness City Council sets Nov. 8 for a hearing on the plan after giving a preliminary blessing.
By JOHN FRANK
Published October 19, 2006
INVERNESS - With construction under way, the developers for a new upscale community inside the city limits are seeking to establish a separate tax district to generate dollars for projects like roads and recreation areas. The district would cover the 84-acre Wyld Palms project, a gated community being developed off Turner Camp Road along Little Lake Henderson. Only the residents who buy one of the 350 units in the community would pay the added tax. The high-end project excited a number of Inverness City Council members, who preliminarily endorsed the creation of the tax district at their meeting Tuesday evening. "This is very exciting," said council member John Sullivan. "This is just what Inverness needs." "This is going to be a tremendous asset for us," added Mayor Bob Plaisted. With the unanimous vote, the council scheduled a public hearing on the project for Nov. 8 and plan afterward to make a final decision about whether to establish the tax district. The creation of a separate community development district would allow the developers to borrow about $17-million for community improvements such as building maintenance, landscaping and a water and sewer system. According to the Wyld Palms Web site, developers also plan to build a private community clubhouse with a pool, social room and exercise facility. A similar district was used to create The Villages, a massive retirement community in central Florida. The district's bond money would be managed by a five-member board of supervisors selected by property owners. Ken Koch, director of the city's development services office, said developers are still revising the community's conceptual plans and already changes are being made. The final plans won't include a yacht club that was proposed in the original blueprint and the community will include a number of single family homes among the one-story condo units. Nu-Era homes in Lecanto, led by Ron Lieberman and Mike Lewis, began construction on the project in January. John Frank can be reached at jfrank@sptimes.com or 860-7312.
[Last modified October 19, 2006, 06:45:46]
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