It’s time for the board in charge of a special tax in the Avenir development to get down to business. Photo is a rendering shows what the shops and restaurants could look like in the Avenir development.
Future homeowners and business owners in Avenir, the expansive, 3,250-home development with roughly 2 million square feet of commercial space on Northlake Boulevard, will be paying an annual fee on top of their regular taxes to finance the project.
A board of five elected supervisors, who will initially be principals of Avenir Holdings, will oversee the special tax. They’ll meet 11 a.m. Feb. 8 in the Conference Room of Special District Services, 2501A Burns Road, for the first time.
The board will organize the district, consider hiring professionals and conduct any other necessary business, according to a legal notice.
It will have an important role in the future as the infrastructure is built and the houses and businesses get off the ground. Homeowners will pay roughly $1,800 each year to pay for construction and management of infrastructure. Commercial property owners will pay by the square foot. The developers pay the fees themselves until the buyers take over their properties.
Control of the board of supervisors for the special taxing district will begin to transfer to property owners when the district is in its sixth year and at least 250 qualified voters live there.
From Northern Palm Beach County. For more information, visit – http://ift.tt/2jOe4uy