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ITEM: ORDINANCE NO. 2026-09 (ESTABLISHING THE VILLAGE LANDING COMMUNITY DEVELOPMENT DISTRICT)
AN ORDINANCE OF THE VILLAGE OF WELLINGTON, FLORIDA ESTABLISHING AND NAMING THE VILLAGE LANDING COMMUNITY DEVELOPMENT DISTRICT; MAKING CERTAIN FINDINGS REGARDING THE DISTRICT; DESCRIBING THE EXTERNAL BOUNDARIES OF THE DISTRICT; NAMING THE FIVE PERSONS DESIGNATED TO BE THE INITIAL MEMBERS OF THE BOARD OF SUPERVISORS; PROVIDING CONSENT FOR THE EXERCISE OF CERTAIN POWERS; PROVIDING FOR CONFLICT; PROVIDING FOR CODIFICATION; PROVIDING FOR SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.
REQUEST: Approval of Ordinance No. 2026-09 establishing the Village Landing Community Development District.
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EXPLANATION: Wellington Property Owner, LLC has submitted a petition to establish a community development district ("CDD") pursuant to Chapter 190, Florida Statutes for the entirety of the K-Park property. The purpose of the district is to provide a mechanism for developer financing of community infrastructure, such as earthwork, roadways, utilities, sanitary sewer system, stormwater management system, landscaping, perimeter improvements, and off-site roadway improvements. Under the statutory framework, a CDD operates as an independent special district with its own governing board, and is authorized to finance such infrastructure through the issuance of bonds secured by the proceeds of non-ad valorem special assessments levied on the land within the district that is specially benefitted by the infrastructure improvements. This financing mechanism means that infrastructure for the Wellington Village (f/k/a K-Park) will be paid for by the residents, tenants, and users of such development and is a financing mechanism widely used by developers throughout Florida.
It is also consistent with Wellington's Charter, which specifically provides that it is the intent of the Charter and incorporation of Wellington that land development costs for infrastructure improvements as...
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