Before you contact us with questions, take a look at our frequently asked questions below that might help address your concerns in the meantime.
The Owner is committed to an ongoing dialogue with the community. To that end, there are multiple ways residents can share their opinions and feedback. On this website, there is a contact section where you can sign up for project updates or email a question to the team. Additionally, we will continue hosting meetings with the community as soon as local and state guidelines allow us to do so. These dates and times will be posted on the website and emailed to our database. Finally, if you would like to invite representatives from our team to a meeting to discuss the project, please email us at email@example.com to schedule.
The Owner has a title policy and an explanation of coverage letter from a national title insurance company that explains the 1977 and 1978 Amendments to the golf course land revoking all prior Declaration Documents affecting the vacant land parcels formerly associated with Lake Orlando Golf Club. The 1977 Amendment imposed various other covenants and restrictions of the type customarily found in residential communities, but neither the 1977 Amendment nor any Declaration Documents recorded thereafter contained any requirement for the continued operation of the vacant land parcels formerly associated with Lake Orlando Golf Club as a golf course, clubhouse or country club and recreational facility, nor does any such requirement currently exist. The full document can be found on the Documents page of this website. Further, the Opportunity Zone designation of the Census Tract 124.02 of Rosemont expressly prohibits a golf course use to the extent the benefits of the Opportunity Zone should be applied in Rosemont.
Rosemont is one of 427 designated U.S. census tracts in Florida, and one of 12 in the city of Orlando, identified as an Opportunity Zone and defined as an economically-distressed community where private capital investments, under certain conditions, are eligible for capital gain tax incentives. In order to capture the full benefit of Opportunity Zones, an Opportunity Zone investor, like the Owner has to erect a structure within 55 months from acquiring a real property and stay invested for at least 10 years. The benefit to a community of being designated as an Opportunity Zone is that it attracts investment that may not have considered the community otherwise and creates long-term investment incentive that the community benefits from.
Opportunity Zones allow for the owner of the property to get a full tax abatement on the increased value in the property if the developer owns the property for at least 10 years. Therefore, the developer is incentivized to do two things; First to build and hold the property for at least 10 years and Second to create a high-quality development that increases in value over time. Since a rising tide lift all boats, the surrounding neighborhoods would increase in value at the same time. This unique and creative arrangement creates a symbiotic relationship between the developer and the existing homeowners because their interests are the same – increased property values!
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4224 Club House Rd, Orlando, FL 32808