PORT LABELLE COMMUNITY DEVELOPMENT DISTRICT
The State of Florida Cabinet approved the creation of the Port LaBelle Community Development District on September 21, 1982. The Secretary of State issued a certificate November 8, 1982 officially establishing the effective date of creation as October 24, 1982.
The original land area of the District consisted of approximately 32,000 acres owned by the General Development Corporation, excluding Port LaBelle Unit 4, 5, Country Village in Hendry County and Villas in Glades County.
Fiscal Information [Budget [see Documents Page] and Finance]:
The fiscal year of the District is October 1st, 2018 through September 30th, 2019. The 2018-2019 millage rate is 5.4259 and the General Fund budget is $944,609.72. The District receives new revenue annually most notably from ad valorem assessments. The District has a restricted Capital Fund created initially from assessments charged to new landowners and later, for a period of time, by assessment. Assessments are no longer collected for the Capital Fund. The 2018-19 Capital Fund budget is $2,018,246.24.
Through an interagency agreement, the District also receives revenue from the Barron Water Control District (facility rental and services as needed), Glades County (mowing contract), and Hendry County (mowing contract).
Should it be necessary in incur debt, under Florida Statute §190.016, the District may issue bonds or incur short term debt (Florida Statute §190.015). Additionally, the District maintains a $250,000 line of credit.
Authority and History: