CLEARWATER CAY COMMUNITY DEVELOPMENT DISTRICT

Est. 2005; Located in Pinellas County, Florida

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Background 

The Clearwater Cay Community Development District (“District”) is an independent special district, created pursuant to and existing under the provisions of Chapter 190, Florida Statutes, and established by Ordinance No. 7564-05, enacted by the City Commission of the City of Clearwater, Florida on September 15, 2005.

The District includes within its boundaries approximately 49 acres of land located in the City of Clearwater east of US Highway 19 North. The District includes within its boundaries three general areas of development: The “Grand Venezia” condominium development, The “Harbourside” office building, and the “Vue at Belleair” area.

The Grand Venezia parcel consists of 24.1 acres, on which 12 mid-rise condominium buildings are located with a total of 336 total condominium units.

Harbourside consists of approximately 9 acres, and currently consists of a mid-rise office building with approximately 150,000 square feet of office space.

The third parcel will soon be home to a new luxury apartment complex, “Vue at Belleair”.

District Infrastructure and Property

The District issued its Series 2006A Bonds (“Bonds”) to fund the construction and/or acquisition of water and sewer utilities, stormwater management improvements, landscaping, seawalls, parking areas, streetlights, and roadways. The Bonds also funded the demolition of a shopping center previously located on the Commonwealth parcel. The District owns property located around the Harbourside office building, the Commonwealth parcel, and the Grand Venezia condominium development.

District Annual Budgets 

The District will annually approve both a Series 2006A Bond debt service budget, and an operations and maintenance “O&M” budget. The Series 2006A Bonds require level annual debt service and so the bond debt service budget will not vary substantially from year-to-year.

District annual Non-Ad Valorem Assessments

The District annually collects from property owners within its boundaries both a bond debt service assessment and an O&M assessment. The bond debt service assessment helps amortize the District’s Series 2006 Bonds. The O&M assessment funds the District’s annual O&M activities.

A  map of the District’s boundaries can be found here: LINK

Premier District Management, LLC

• Attend, record and conduct all regularly scheduled Board of Supervisors Meetings.
• Presentation of District’s annual budget in accordance with Chapter 190, Florida Statutes.
• Ensure District is in compliance with administrative and financial reporting for Community Development Districts.
• Correspond and communicate with Board of Supervisors and Staff to respond to the various needs of the District and Community.
• Prepare agendas for circulation to the Board of Supervisors.
• Prepare annual budget, monthly financial and monthly disbursements.
• Work with auditors on preparation of annual budget.
• Review annual insurance policy to ensure District maintains proper insurance coverage.

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