What is a CDD Bond
A Community Development District (CDD) is a local unit of special purpose government created to provide for the long-term, specific needs to its residents. Created pursuant to Chapter 190, Florida Statutes, a CDD's main powers are to plan, finance, construct, operate, and maintain community-wide infrastructure and services specifically for the benefit of its residents. The District finances construction of the infrastructure through the sale of tax-exempt bonds, a form of public financing. As a result, and in accordance with applicable state and federal law, all District owned improvements, facilities, and infrastructure are, and shall remain, open and accessible to the general public. There are five Community Development Districts in Lakewood Ranch Phase I: CDD1, CDD2, CDD4, CDD5, and CDD6. Each District is governed by a five-member Board of Supervisors elected by the District's registered voters.