Special Districts

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Dependent Special Districts

Web Beach Project Image of white sand beach. Longboat Key has two Special Districts for the purpose of Beach Nourishment

The dependent special districts shown below were established on June 1, 2020 and are included within the reporting entity of the Town of Longboat Key as blended component units (see Town Comprehensive Annual Financial Report).

Gulfside District
Bayside District

We are not required to provide for separate annual financial audits for these districts.

Background

In 1992, the Town of Longboat Key created two Dependent Special Districts to address shoreline erosion.
Ordinance 92-24 and Ordinance 92-26 created taxing authorities to levy ad valorem taxes for beach renourishment.
The Town issued General Obligation Bonds in 1993 to fund the first Beach Nourishment project.
The original beach districts A and B, that were created in 1992, were sunsetted after the last payment on the 2016 bonds in FY20
Ordinance 2014-29 (Available in the Town Clerk's Office) was passed in November 2014, establishing the new districts (Gulfside and Bayside)
Although the Special Districts were established in November 2014, they became effective June 1, 2020
Fiscal Year 2021 is the first year of Ad Valorem Taxes for these new districts