Cory Lakes CDD

I have attached the appraisal for the Vacant Land. It's valued at between $840k for a single residential lot and $1.5M for a 10 residential lot.

As a matter of historical record, my recollection is that a developer once wanted to have the CDD sell the land for a non-monetary value of adding a fitness park across the street from the clubhouse at no charge to the CDD. We now know that the fitness park costs about $115k. Glad we didn't make that deal!

So, we have the happy challenge of deciding what to do with this land. Do we sell it to an individual, to a developer or keep it for an amenity? If we choose to sell it, what would we do with the money? Reduce assessments, increase reserves or add a different amenity?

Predictably, I suggest that we present our options to the residents in a survey and ask them what they want to do with the land.

Thoughts?

I think the survey might be an idea but I think we need to wait a while since the last survey before another one goes out. I also think this should be a more indepth discussion Between the board members before the entire community is brought in to the discussion. I think it will reflect as we have no idea what we are doing as a board if we jump on this right now.

Cyril thanks for the heads up i had an opportunity to briefly review the appraisal and this is great news for the community. I'm in agreement with Joyce that this will require in depth discussion by the board before submitting a Survey.

Jorge Castillo wrote:
> Cyril thanks for the heads up i had an opportunity to briefly review the
> appraisal and this is great news for the community. I'm in agreement with
> Joyce that this will require in depth discussion by the board before
> submitting a Survey.


Good thing we didn't gave away a valuable piece of the Community property for a fitness park.
I would agree with Cyril, Joyce and Jorge to take a survey or two to gauge residents opinion.