About the District
The Principal One Community Development District was established pursuant to F.S. Chapter 190 and is governed by a five-member Board of Supervisors elected by qualified electors within the Il Villagio community. The District may impose and levy taxes and/or assessments on the property to pay off bonds issued for capital improvements. All property owners within the District will be subject to annual assessments which are broken down in two components:
1. The operation and maintenance (O&M) of the improvements
2. Debt service (annual principal & interest) on the capital improvement bonds.