HGS Attorneys Facilitate Establishment of Veranda Community Development District II, Validation of $75 Million in Bonds and Issuance of Special Assessment Revenue Bonds

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On July 9, 2018, the City Council of the City of Port St. Lucie, Florida adopted Ordinance No. 18-30 establishing the Veranda Community Development District II as petitioned by Veranda St. Lucie Land Holdings, LLC and represented by Hopping Green & Sams attorney Jonathan Johnson. The District contains approximately 754.747 acres and is located south and west of the St. Lucie River, east of the Sunshine State Parkway and north of the St. Lucie County/Martin County line in the City of Port St. Lucie.  On September 17, 2018, the District received a Final Judgment from the Nineteenth Judicial Circuit Court of Florida validating its Special Assessment Revenue Bonds in an amount not to exceed $75,000,000, with the assistance of HGS attorneys Jonathan Johnson and Alyssa Willson.  On December 24, 2018, the District issued Special Assessment Revenue Bonds, Series 2018A (Assessment Area One) in the amount of $7,405,000, Series 2018A (Assessment Area Two) in the amount of $7,045,000 and Series 2018B (Assessment Areas Three, Four and Five) in the amount of $6,910,000 (the “Series 2018 Bonds.”)  The Series 2018 Bonds will finance a portion of the cost of acquiring, constructing, and equipping the improvements comprising a portion of the District’s Capital Improvement Plan.

For additional information, please contact Jonathan Johnson.