The Keys Cove II Community Development District (the “District”) is a local unit of special-purpose government of the State of Florida established in accordance with the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended and by Ordinance No. 05-133 of the Board of County Commissioners of Miami Dade County, Florida (the “County”), effective July 17, 2005 and by the City of Homestead Resolution No. 2005-03-53. The District lands consist of approximately 84 gross acres lying wholly within the City of Homestead, located in the County and were developed as a residential community which contains 406 executive townhome units and 523 townhome condominium units. The District is governed by a five-member Board of Supervisors (qualified electors) elected during the general election process by qualified electors of the District. The District issued Special Assessment Bonds, Series 2005 (the “Bonds”) and has imposed taxes and/or assessments on all assessable property to pay off the Bonds issued to finance the installation and construction costs of the public infrastructure improvements. All property owners within the District are subject to annual special assessments which are broken down into two (2) components:
- The operation and management of the District owned public improvements.
- Bond debt service (annual principal and interest) on the 2005 Bonds.
The District uses the Miami-Dade County Tax Collector to collect the assessments each year. The special assessments appear under the non-ad valorem tax section of the real estate property tax bill. The District’s fiscal year runs from October 1 thru September 30 of each respective year.