The $8.99 million CDD bond issue

By Lakefront Okeechobee Report · Independent reporting

Published October 7, 2026

Lakefront Estates Community Development District is a Florida special-purpose local government created by Glades County Ordinance No. 2023-7, effective April 18, 2023. It is not the developer’s LLC.

On December 23, 2025 the district issued Series 2025 special assessment bonds for Assessment Area One in the aggregate principal amount of $8.99 million. Net proceeds reported available to the district for construction or acquisition were $7,748,948.06. U.S. Bank Trust Company, National Association is the trustee, paying agent, and registrar. Special District Services, Inc. is the district manager and dissemination agent.

Resolution No. 2023-30, dated December 20, 2023, authorized issuance of not exceeding $132 million. A master methodology used a planning assumption around $135 million. Neither number is debt issued. The fiscal 2026-27 budget, beginning October 1, 2026, is a third set of figures: budgeted revenue of $849,261, including debt assessments of $726,435, and a bond-payment provision of $668,320. Those are budget lines, not bond principal.

The audit for the year ended September 30, 2024 reported that all CDD board members at that time were affiliated with Okeechobee Member LLC. That is a dated governance fact. It is not personal ownership of the developer. A bond-validation judgment has been associated with April 22, 2024. The order itself is not summarized here.

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