TO: Mayor and Commission AGENDA DATE: 10/13/2025
FROM: City Manager AGENDA ITEM: 4 - B
SUBJECT:
Title
Twin Lakes Subdivision - Non Ad Valorem Assessment Discussion for roadway repairs/maintenance and stormwater repairs/maintenance.
Body
LOCATION:
Twin Lakes At Deltona Subdivision - south of Anderson Drive; north of Debary Avenue; east of Cloverleaf Boulevard and west of Nardello Drive within District 3.
COST:
$582,506 estimated
SOURCE OF FUNDS:
General Fund Up-Front, repayment by establishment of a Non-Ad Valorem Assessment
ORIGINATING DEPARTMENT:
Public Works
POTENTIAL MOTION:
Recommendation
Direct Staff to pursue the establishment of the Non-Ad Valorem Assessment, initially to be up-funded by the City of Deltona.
END
BACKGROUND:
Background
• Twin Lakes is a private subdivision that is gated, and access is limited to residents, utility providers, solid waste and those with authorization to access the community.
• Per the Twin Lakes Plats, the roadways & stormwater infrastructure is private and is to be maintained by the HOA both referenced in the Plats as well as the CCR for the development.
• Research has found that the community has performed basic maintenance & repairs, but no major upgrades or extensive maintenance.
• The Community has been looking for the City to partner with them on establishment of a Non-Ad Valorem Assessment for milling/resurfacing of the roadways and re-establishment of stormwater swales & stormwater repairs.
• It was suggested by prior leadership that the City might consider up-fronting the cost of these maintenance & repairs and establish a Non-Ad Valorem Assessment to the community. This option would allow the community to pursue the requisite repairs & maintenance done.
• The Community has presented the following for City consideration -
o ~$582,505 for repairs/maintenance to roadways & stormwater infrastructure
o ~$5,000 per year administrative cost to be paid up-front by HOA estimated at $50,000 for 10-year payback
o Desires a 10-year payback of the construction costs
o Current State of Florida 30-Day Yield 4.35% (Interest Earnings / Lending)
o ~$3,883 per residential lot if paid via a HOA Special Assessment - 150 residential lots in the subdivision
§ ~$388.34 annually if assessed over a 10-year period
The above analysis has not accounted for the lost revenue the City would
have by “loaning” the community this money. The following staff recommendation takes this into account.
• Staff proposed the following payback plan assessed annually.
o HOA consideration does not take into account the cost of capital to finance the improvements.
o Current State of Florida 30-Day Yield 4.35% (Interest Earnings / Lending)
o Repayment through assessment
§ 10 Year Repayment - $4,795.97 or $479.60 annually
§ 5 Year Repayment - $4,327.99 or $865.60 annually
Staff are requesting consideration, input and direction from the Commission on pursuing this funding option. This project has impacts on the City’s general fund as the project would need to be up-front funded by the City with a payback over an established number of years.
End