Cedar Pointe Community Development District

Transcription

1 Cedar Pointe Community Development District Corporate Boulevard, Orlando, FL FAX Members of the Board of Supervisors Cedar Pointe Community Development District Dear Board Members: The meeting of the Board of Supervisors of Cedar Pointe Community Development District will be held Thursday, January 10, 2019 at 2:00 pm at the offices of ICI Homes Old St. Augustine Road, Suite 3, Jacksonville, FL, The following is the proposed agenda for this meeting. Board of Supervisors Meeting A. Business Matters Call to Order Roll Call Public Comment Period 1. Consideration of Minutes of the July 10, 2018 Board of Supervisors Meeting 2. Consideration of Minutes of the November 1, 2018 Landowners Election Meeting 3. Consideration of Resolution , Registered Agent 4. Review & Acceptance of Arbitrage Rebate Calculation Report 5. Update Regarding Composition of Board of Supervisors 6. Ratification of Payment Authorizations Consideration of Resolution , Declaring A Vacancy in Seat 3 and Seat 5 8. Consideration of Resolution , Designating District Manager, Assessment Consultant and Financial Advisor (under separate cover) Exhibit A- Fishkind Agreements (under separate cover) 9. Review of District Financial Statements B. Other Business Staff Reports o Attorney o Engineer o Manager o Audience Comments and Supervisors Requests C. Adjournment

2 CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT Consideration of Minutes of the July 10, 2018 Board of Supervisors Meeting

3 MINUTES OF MEETING Cedar Pointe Community Development District Board of Supervisors Meeting Old St. Augustine Road, Suite 3, Jacksonville, FL Thursday, July 10, 2018 at 1:30 p.m. Present and constituting a quorum: Kelly McCarrick David Haas Andy Hagan Mike Veazey Board Member Board Member Board Member Board Member Also present were: Vivian Carvalho Wes Haber Fishkind & Associates Hopping Green & Sams FIRST ORDER OF BUSINESS Business Matters Call to Order This meeting was called to order at 3:50 p.m. and roll call was initiated. Quorum was established with the attendance of Board Members Kelly McCarrick, David Haas, Andy Hagan, and Mike Veazey. Others in attendance are listed above. There were no members of the public present. Public Comment Period Consideration of the Minutes of the April 5, 2018 Board of Supervisors Meeting The Board reviewed the minutes for the April 5, 2018 Board of Supervisors Meeting.

4 On MOTION by Ms. McCarrick, seconded by Mr. Hagan, with all in favor, the Board approved the Minutes of the April 5, 2018 Board of Supervisors Meeting. Consideration of the Minutes of the May 31, 2018 Special Board of Supervisors Meeting The Board reviewed the minutes for the May 31, 2018 Special Board of Supervisors Meeting. On MOTION by Mr. Hagan, seconded by Mr. Haas, with all in favor, the Board approved the Minutes of the May 31, 2018 Special Board of Supervisors Meeting. Consideration of Resolution , Designating a Date, Time and Location for the 2018 Landowners Meeting Ms. Carvalho suggested November 1, 2018 at 11:20 a.m. as the date of the Landowners Meeting. On MOTION by Ms. McCarrick, seconded by Mr. Haas, with all in favor, the Board approved Resolution , Designating November 1, 2018 at 11:20 a.m. at this location as the Date, Time and Location for the 2018 Landowners Meeting. The Board reviewed the Fiscal Year 2017 Audit Report. Review and Acceptance of Fiscal Year 2017 Audit Report

5 On MOTION by Ms. McCarrick, seconded by Mr. Hagan, with all in favor, the Board accepted the Fiscal Year Audit report subject to review and minor changes by District Chair. Ms. Carvalho requested a motion to open the public hearing. Public Hearing on the Adoption of the District s Annual Budget a) Public Comments and Testimony b) Board Comments c) Consideration of Resolution , Adopting the Fiscal Year 2019 Budget and Appropriating Funds On MOTION by Ms. McCarrick, seconded by Mr. Hagan, with all in favor, the Board opened the Public Hearing. Ms. McCarrick noted that the District is using a small amount of surplus and the District will still have 20% of the working Capital Budget remaining in cash and are using $10, of carry-over surplus. On MOTION by Ms. McCarrick, seconded by Mr. Hagan, with all in favor, the Board closed the Public Hearing. Ms. Carvalho requested approval of Resolution On MOTION by Mr. Hagan, seconded by Mr. Haas, with all in favor, the Board approved Resolution , Adopting the Fiscal Year 2019 Budget and Appropriating Funds.

6 Ms. Carvalho requested a motion to approve Resolution Consideration of Resolution , Imposing Special Assessments and Certifying and Assessment Roll On MOTION by Ms. McCarrick, seconded by Mr. Haas, with all in favor, the Board approved Resolution , Imposing Special Assessments and Certifying an Assessment Roll. Ratification of Payment Authorizations These have been previously approved by the Chair and need to be ratified by the Board. On MOTION by Mr. Veazey, seconded by Mr. Hagan, with all in favor, the Board approved Payment Authorizations Review of District Financial Statements The Board reviewed the District financial statements. No action was required. SECOND ORDER OF BUSINESS Other Business Staff Reports Attorney No Report Engineer Not Present Manager Ms. Carvalho noted that the District is setting the Fiscal Year 2019 Meeting Schedule at 11:30 a.m. at the offices of ICI Homes St. Augustine Road, Suite 3,

7 Jacksonville, FL on the 2 nd Thursday on a quarterly basis at 2:00 p.m. Ms. Carvalho requested a motion to approve the Fiscal Year 2019 Meeting Schedule as presented. On MOTION by Mr. Hagan, seconded by Ms. McCarrick, with all in favor, the Board approved the Fiscal Year 2019 Meeting Schedule as Presented. THIRD ORDER OF BUSINESS Audience Comments and Supervisors Requests There were no additional items to discuss. FOURTH ORDER OF BUSINESS Adjournment Ms. Carvalho requested a motion to adjourn. On MOTION by Ms. McCarrick, seconded by Mr. Hagan, with all in favor, July 10, 2018 Board of Supervisors Meeting of the Cedar Pointe CDD was adjourned. Secretary/Assistant Secretary Chairperson/Vice Chairperson

8 CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT Consideration of Minutes of the November 1, 2018 Landowners Election Meeting

9 MINUTES OF MEETING CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT LANDOWNERS ELECTION Thursday, November 1, :20 a.m. Present: Mike Veazey Vivian Carvalho Venessa Ripoll ICI Homes Fishkind & Associates, Inc. Fishkind & Associates, Inc. FIRST ORDER OF BUSINESS Call to Order and Roll Call The meeting was called to order at 11:37 a.m. Those in attendance are outlined above. SECOND ORDER OF BUSINESS Appointment of Meeting Chairman Ms. Ripoll was appointed Chairperson for the purpose of conducting the Landowners Meeting. 1 Identification of Landowners and/or Landowner s Proxy Holder(s) Ms. Ripoll asked the landowners or landowner proxy holder to identify themselves. Mr. Veazey came forward as the proxy holder for TW Property Holdings, LLC which owns acres and allows Mr. Veazey to cast a total of 83 votes on behalf of TW Property Holdings, LLC. Call for Nominations, Election of Supervisors Ms. Ripoll Noted that on (1) seat is up for election. The person receiving the highest number of votes will serve a four-year term. Mr. Veazey nominated Andrew Hagan to seat four (4) to the Board of Supervisors. The votes were cast as follows.

10 Andrew Hagan received 83 votes. Mr. Hagan will serve a four-year term. THIRD ORDER OF BUSINESS Adjournment There were no other questions or comments. Ms. Ripoll adjourned the Landowners Meeting. Secretary / Assistant Secretary Chairperson / Vice Chairperson 2

11 CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT Consideration of Resolution , Registered Agent

12 RESOLUTION A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND APPROVING CHANGE OF DESIGNATED REGISTERED AGENT AND REGISTERED OFFICE OF THE CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT. WHEREAS, the Cedar Pointe Community Development District (hereinafter the District ) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within Manatee County, Florida; and WHEREAS, the District is statutorily required to designate a registered agent and a registered office location for the purposes of records keeping and accepting any process, notice, or demand required or permitting by law to be served upon the District in accordance with (1), Florida Statutes. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT: Section 1. Vivian Carvalho of Fishkind & Associates, is hereby designated as Registered Agent for the District. Section 2. The District s Registered Office shall be located at Fishkind & Associates, Corporate Blvd., Orlando, Florida and whose telephone number is (407) Section 3. In accordance with Section , Florida Statutes, the District s Secretary is hereby directed to file certified copies of this resolution with Manatee County and the Florida Department of Economic Opportunity. Section 4. This Resolution shall become effective immediately upon adoption. PASSED AND ADOPTED THIS TH DAY OF, ATTEST: CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT SECRETARY/ASST. SECRETARY CHAIRMAN/VICE CHAIRMAN

13 CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT Review & Acceptance of Arbitrage Rebate Calculation Report

14 July 6, 2018 Ms. Jennifer Walden Cedar Pointe CDD c/o Fishkind and Associates, Inc Corporate Boulevard Orlando, Florida RE: Cedar Pointe Community Development District $6,090,000 Capital Improvement Revenue Bonds, Series 2005A (the Bonds ) Dear Ms. Walden: GNP Services, CPA, PA has been requested to compute the Rebatable Arbitrage Liability with respect to the Bonds. All computations included on the attached synopsis are mathematically accurate and have been performed in accordance with the Code. We have determined the following: The results of our computations indicate that the Bonds have no Rebatable Arbitrage Liability or Yield Reduction Payment Amount for the period beginning June 7, 2005 (the Issue Date ), and ending May 31, 2018 (the Computation Date ). The next full report will be provided for the period ending on the May 31, 2020 Installment Computation Date. If you have questions regarding this letter, or any other concerns, please call (904) Very truly yours, GNP Services, CPA, PA Enclosure cc: Ms. Susan Heafner, U.S. Bank Global Corporate Trust

15 SYNOPSIS OF COMPUTATION RESULTS As of the Computation Date 31 May 18 Cedar Pointe Community Development District $6,090,000 Capital Improvement Revenue Bonds, Series 2005A Current Computation Period Debt Service Reserve Fund $ (14,205.66) Acquisition & Construction Fund (114.36) Deferred Costs Fund (4,193.08) Revenue Fund (7,448.03) Prepayment Fund (103.32) Computation Date Credit (1,700.00) Current Computation Period Total Rebatable Arbitrage Liability $ (27,764.45) Cumulative Computation Period Current Computation Period Total Rebatable Arbitrage Liability $ (27,764.45) Future Value of Rebatable Arbitrage Liability Reported at 5/31/17 (407,137.62) Cumulative Rebatable Arbitrage Liability $ (434,902.07) Gross Proceeds Subject to Arbitrage Rebate Remaining As of the Computation Date Debt Service Reserve Fund $ 304, Acquisition & Construction Fund 2, Deferred Costs Fund 54, Debt Service Funds 105, Total $ 466, DataCedarPt

16 CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT Update Regarding Composition of Board of Supervisors

17 CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT Ratification/Consideration of Payment Authorizations

18 CEDAR POINTE C O M M U N I T Y D E V E L O P M E N T D I S T R I C T Payment Authorization /28/2018 FY18 Item Payee Invoice General No. Number Fund 1 Fishkind & Associates, INC District Management - June $ 2, Dissemination Service 2005A $ 5, Common Ground Lawn & Landscape Full Service Maintenance For June $ Hopping Greens & Sams General Counsel - April $ Daily Record & Observer, LLC Notice of Public Hearing D $ TOTAL $ 8, Secretary/Assistant Secretary Chairperson

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33 CEDAR POINTE C O M M U N I T Y D E V E L O P M E N T D I S T R I C T Payment Authorization /10/2018 FY18 Item Payee Invoice General No. Number Fund 1 Hopping Greens & Sams General Counsel - 05/31/ $ Fishkind & Associates District Management - July $ 2, TOTAL $ 2, Secretary/Assistant Secretary Chairperson

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55 CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT Consideration of Resolution , Declaring A Vacancy in Seat 3 and Seat 5

56 RESOLUTION A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT DECLARING A VACANCY IN SEATS 3 AND 5 OF THE BOARD OF SUPERVISORS PURSUANT TO SECTION (3)(b), FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Cedar Pointe Community Development District ( District ) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes; and WHEREAS, on November 6, 2018, two (2) members of the Board of Supervisors ( Board ) are to be elected by Qualified Electors, as that term is defined in Section , Florida Statutes; and WHEREAS, the District published a notice of qualifying period set by the Supervisor of Elections at least two (2) weeks prior to the start of said qualifying period; and 5; and WHEREAS, at the close of the qualifying period, no one qualified to run for Seats 3 and WHEREAS, pursuant to Section (3)(b), Florida Statutes, the Board shall declare these seats vacant, effective the second Tuesday following the general election; and WHEREAS, Qualified Electors are to be appointed to the vacant seats within 90 days thereafter; and WHEREAS, the Board finds that it is in the best interests of the District to adopt this Resolution declaring the seats available for election as vacant. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT: SECTION 1. The following seats are hereby declared vacant effective as of November 20, 2018: Seat #3 (currently held by Virginia Bomhold) Seat #5 (currently held by Mike Veazey) SECTION 2. Until such time as the District Board nominates Qualified Electors to fill the vacancies declared in Section 1 above, the incumbent Board Supervisors of those respective seats shall remain in office. 1

57 SECTION 3. This Resolution shall become effective upon its passage. PASSED AND ADOPTED this day of January, ATTEST: CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT Print Name: Chairperson 2

58 CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT Consideration of Resolution , Designating District Manager, Assessment Consultant and Financial Advisor (under separate cover)

59 CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT Exhibit A- Fishkind Agreements (under separate cover)

60 CEDAR POINTE COMMUNITY DEVELOPMENT DISTRICT Review of District Financial Statements

61 Cedar Pointe Community Development Distr Statement of Financial Position As of 11/30/2018 General Fund Debt Service Fund Capital Projects Fund Long Term Debt Group Total Assets Current Assets General Checking Account - CNB State Board of Administration Debt Service Reserve A1 Bond Revenue A1 Bond Prepayment A1 Bond Acquisition/Construction A1 Bond Deferred Cost A1 Bond Total Current Assets $19, $19, , , $304, , , , , , $2, , , , $27, $372, $57, $0.00 $458, Investments Amount Available in Debt Service Funds Amount To Be Provided Total Investments $372, $372, ,147, ,147, $0.00 $0.00 $4,520, $4,520, Total Assets $27, $372, $57, $4,520, $4,978, Liabilities and Net Assets Current Liabilities Accounts Payable Due To Other Funds Total Current Liabilities $1, $1, , , $9, $0.00 $0.00 $0.00 $9, Long Term Liabilities Revenue Bonds Payable LongTerm Total Long Term Liabilities $4,520, $4,520, $0.00 $0.00 $4,520, $4,520, Total Liabilities $9, $0.00 $0.00 $4,520, $4,529,989.85

62 Cedar Pointe Community Development Distr Statement of Financial Position As of 11/30/2018 General Fund Debt Service Fund Capital Projects Fund Long Term Debt Group Total Net Assets Net Assets, Unrestricted Net Assets - General Government Current Year Net Assets - General Government Net Assets, Unrestricted Current Year Net Assets, Unrestricted Net Assets, Unrestricted Current Year Net Assets, Unrestricted Total Net Assets $254, $254, (214,132.92) (214,132.92) (22,510.31) (22,510.31) $494, , (121,521.19) (121,521.19) $57, , $17, $372, $57, $0.00 $448, Total Liabilities and Net Assets $27, $372, $57, $4,520, $4,978,066.85

63 Cedar Pointe Community Development Distr Statement of Activities As of 11/30/2018 General Fund Debt Service Fund Capital Projects Fund Long Term Debt Group Total Revenues On-Roll Assessments $1, Inter-Fund Group Transfers In Inter-Fund Transfers In Total Revenues $1, $1, ($152.76) (152.76) $ ($152.76) $ $0.00 $1, Expenses Public Official Insurance $2, Trustee Services 3, District Management 2, District Counsel Assessment Administration 5, Postage & Shipping Legal Advertising Contingency Web Site Maintenance Dues, Licenses, and Fees General Insurance 3, Lake Maintenance 2, Landscaping Maintenance & Material 2, Miscellaneous Interest Payments Total Expenses $24, $2, , , , , , , $121, , $121, $0.00 $0.00 $145, Other Revenues (Expenses) & Gains (Losses) Interest Income $33.22 Interest Income Interest Income Total Other Revenues (Expenses) & Gains (Losses) $33.22 $33.22 $ $ $ $ $0.00 $ Change In Net Assets ($22,510.31) ($121,521.19) $ $0.00 ($143,763.78) Net Assets At Beginning Of Year $40, $494, $57, $0.00 $591, Net Assets At End Of Year $17, $372, $57, $0.00 $448,077.00

64 Cedar Pointe Community Development District Budget to Actual For the Month Ending 11/30/18 Year To Date Actual Budget Variance Adopted FY 2019 Budget Revenues On-Roll Assessments Off-Roll Assessments Carry Forward Revenue Net Revenues General & Administrative Expenses Engineering Fees District Counsel Audit Fees Arbitrage Assessment Roll Dissemination Trustee District Management Fees Postage General Insurance Public Official Insurance Legal Advertising Other Current Charges Website Maintenance Dues, Licenses & Fees Landscape Maintenance Landscape Improvements Irrigation Repairs & Maintenance Lake Maintenance Maintenance of Trees/Wetlands Electric Office Misc (Phone / Postage / Travel) C Total General ( & Administrative / Expenses / $ 1, $ 6, $ (5,035.57) $ 40, , (7,116.20) 42, , (1,666.67) 10, $ 1, $ 15, $ (13,818.43) $ 93, $ - $ $ (416.67) $ 2, (732.00) 4, (933.33) 5, (166.67) 1, , , , (833.33) 5, , , , , , , (5.88) , , , , , , , , , , , , (393.33) 6, (333.33) 2, , , (14.67) 16, (166.67) 1, (125.00) (34.92) $ 24, $ 15, $ 9, $ 93, Total Expenses Income (Loss) from Operations Other Income (Expense) Interest Income Total Other Income (Expense) Net Income (Loss) $ 24, $ 15, $ 9, $ 93, $ (23,233.53) $ - $ (23,566.86) $ - $ $ $ - $ $ - $ $ - $ (23,216.81) $ - $ (23,550.14) $ -