LAKEWOOD RANCH STEWARDSHIP DISTRICT
Schroeder-Manatee Ranch, Inc._
14400 Covenant Way, Lakewood Ranch, Florida 34202

Minutes - Board of Supervisor's Meeting
April 5, 2024, 9:00 a.m.

Attending and constituting a quorum:

Rex Jensen Tony Chiofalo John Gleeson

Also attending were:

Chair Person
Vice-Chair Person / Assistant Secretary Assistant Secretary

Jane Gaarlandt Jorge Orsini Jennifer Glasgow Kevin Plenzler Jonathan Johnson Anne Ross Heather Ross Brett Sealy
Sete Zare Misty Taylor Scott Almand Bob Simons Rob Engel Mike Kennedy John McKay
Suzanne Henke

PFM Group Consulting LLC PFM Group Consulting LLC PFM Group Consulting LLC PFM Financial Advisors LLC Kutak Rock
LWRSD LWRSD MBS MBS BMO SMR
LWR Development Stantec
Stantec
J.H. McKay, LLC
Public

(by phone) (by phone) (by phone) (by phone)

FIRST ORDER OF BUSINESS	Call to Order and Roll Call

Ms. Gaarlandt called the meeting to order and proceeded with the roll call. The members in attendance are as outlined above.
Public Comments

There were no public comments.

SECOND ORDER OF BUSINESS

Mr. Jensen presented the consent agenda:

Administrative Matters Consent Agenda
Minutes
March 1, 2024 Board of Supervisors Meeting
Financing Matters Relative to the LRSD
Aurora Project, Series 2024 Special Assessment Revenue Bonds
	Resolution 2024-21, Ratifying the Sale of the Series 2024 Bonds
Disclosure of Public Financing

Uihlein Road Landscape and Irrigation Maintenance Services
Termination Letter to TruScapes industries, Inc.

.

	Agreement between the District and Cepra Landscape LLC
Engineer's Report
Change Order No. 133 Under Specific Authorization No. 138
Stantec
General District Engineering services (Fiscal Year 2023- 2024)
Change Order No. 2
Frederick Derr & Company Inc.
Harmony Trail
Reinstatement of bonds and quantities per scope so project can proceed
	Change Order No. 4 Frederick Derr & Company
Inc.
44th Avenue East Phase VI Racetrack Berm -		clearing and grubbing; fence removal and earthwork for 11 Lakes; silt	fence	&	construct stakeout
	Change Order No. 5 Frederick Derr & Company
Inc.
44th Avenue East Phase VI Muck	excavation	and		Re­ Mobe		for	clearing	Crew (Turtle Relocation)
	Change Order No. 6 Frederick Derr & Company
Inc.
44th Avenue East Phase VI Increase Asphaltic Concrete
1.5" to 2" (First Lift)
	Change Order No. 4 Frederick Derr & Company Inc.
Rangeland Parkway Extension
Increase in material costs for junction box; gate valved; reclaim water
Items & survey for conduits
	Change Order No. 5 Frederick Derr & Company Inc.

Rangeland Parkway Extension
Increase Asphaltic Concrete
1.5" to 2" for first lift for County
	Change Order No. 6 Frederick Derr & Company Inc.
Rangeland Parkway Extension
Temporary water main service line {the cut in tee on the west side of Bourneside, installing a 1O" bore under Bourneside. Then running 8" PVC east to make connections with the 12" water main and the 16" reclaim line)
Change Order No. 6 C&M Roadbuilders, Inc.
Waterside  Neighborhood  8
Phase 3
Decrease for signs I thermostrips; 2nd lift asphalt; additional 1 year bond
Change Order No. 4 Westra Construction Corporation
Waterside Lift Station No. 12 Plan	revisions:		remove buried pipe; valves; fence; clearing;	settlement monitoring per County
Change Order No. 5
Westra	Construction Corporation
Waterside Lift Station No. 12 Temp	transformer;	electric svc FPL; concrete slabs; ac @elec bldg
Change Order No. 6 Westra Construction Corporation
Waterside Lift Station No. 12 Equipment rentals; FL Power Solutions; Labor Burdon
Proposal 'Option A"
Sun	State	Landscape Management Inc.
Silver Falls Run Extension Landscape Installation
Quote#: 03072401

JT's	Irrigation	Restoration Specialist
Silver Falls Run Extension Irrigation Installation
Florida	Gulf	Coast Underground LLC
Silver Falls Run Extension Irrigation	Services	Taps 8"x2" Zones Supplies
Mr. Jensen noted that the items on the consent agenda were thoroughly reviewed by staff and a lot of work and effort was put forward before presenting the consent agenda to the Board.

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the

 Lakewood Ranch Stewardshi  District a  roved the items on the consent a enda.

THIRD ORDER OF BUSINESS	Consideration of Jim Schier's Resignation from the Board
Nomination(s) for Vacant seat 4 (term expires 2026)
Swearing in new Board Member

Mr. Johnson confirmed that the only criteria is for the candidate to be a US citizen and a resident of Florida. Mr. Jensen noted that he would like to start the interviewing process to fill the vacant seat as soon as possible.

On MOTION by Mr. Gleeson, seconded by Mr. Chiofalo, with all in favor, the Board of Supervisors of the
 Lakewood Ranch Stewardshi  District acce ted Jim Schier's resi nation from the Board.	

FOURTH ORDER OF BUSINESS	Business Matters

Consideration of Financing Matters Relative to the Lakewood Ranch Southeast Project, Series 2024. Special Assessment Revenue Bonds
Other Matters (provided under separate cover)
Mr. Sealy noted that the District's Financing Team has worked on preparing a credit package together with a RFP requesting Term Sheets to provide a line of credit similar to what was done for the Northeast Sector. That package went out on March 25th with a due date of April 15th. A discussion will take place to discuss the appropriate content for an Addendum to that package based on information received pertaining to the appeal Further updates will be provided at the May meeting.

FIFTH ORDER OF BUSINESS	Consideration of Financing Matters Relative to the Pam Grove Project, Series 2024 Special Assessment Revenue Bonds
Master Engineer's Report
Master Assessment Methodology Report
Resolution 2024-22, Declaring Special Assessments
Resolution 2024-23, Setting Public Hearing Date on the Imposition of Special Assessments
Other Matters (provided under separate cover)
Mr. Sealy noted that as previously reported to the Board, NEAL Communities is interested in issuing neighborhood infrastructure bonds consistent with a number of such bonds issued within the Stewardship District. Items to kick off that process is on today's agenda. Mr. Chiofalo noted that Palm Grove is located North

of SR64 and East of Lakewood Ranch Stewardship District property. Mr. Jensen noted for the record that only Palm Grove property will be financially impacted by this transaction.

Mr. Johnson noted that the Board will not be asked to adopt in Final Form the Engineer's Report representing approximately $30 million worth of primarily stormwater and utility improvements with related soft costs or the draft Assessment Methodology Report; those reports are included on today's agenda for purposes of considering the two resolutions, which are in standard form. Mr. Johnson provided details of the resolutions.

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the
 Lakewood Ranch Stewardshi  District a	roved Resolution 2024-22, Declarin  S ecial Assessments.

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Resolution 2024-23, Setting Public Hearing Date on the Imposition of Special Assessments for June 7, 2024 at 9:00 a.m. at the current location.

There were no other matters for consideration or discussion.

SIXTH ORDER OF BUSINESS	Acceptance and Approval of the September 30, 2023 Audited Financial Statements
Draft Audit Report
Draft Management Letter

Ms. Ross presented the Audited Financial Statements stating it was a clean audit with no comments or recommendations and noting that the big financial event that happened within the fiscal year was the acquisition of Braden Utilities.

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved and accepted the September 30, 2023 Audited Financial Statements.

SEVENTH ORDER OF BUSINESS	Consideration of Bid Award for Dam Road Waer
Main and 44th Avenue East Phase 5 Force Main Project
Award Recommendation Letter and Bid Tabulation
Resolution 2024-24, Award of Contract

Mr. Chiofalo noted that this item will be pulled and brought back at the next meeting.

EIGHTH ORDER OF BUSINESS

Mr. Almand presented for the Board's Consideration:

Financial Matters Draw Requests
Requisition List for Draw No. 2 LRSD Taylor Ranch
Series 2023 Bond

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Draw No. 2 - LRSD Taylor Ranch, Series 2023 Bond.

Requisition List for Draw No. 75 Lakewood Centre & NW Sector Pre-Funding

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Draw No. 75 - Lakewood Centre & NW Sector - Pre-Funding.

Requisition List for Draw No. 54
The Villages of Lakewood Ranch South Pre-Funding - Landowner/County Construction Funding Agreement

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Draw No. 54 - The Villages of Lakewood Ranch South - Pre­ Funding.

Requisition List for Draw No. 31 Northeast Sector
Pre-Funding

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Draw No. 31 - Northeast Sector - Pre-Funding.

NINTH ORDER OF BUSINESS	Compilation Report

There were no comments to the financial statements.

TENTH ORDER OF BUSINESS	Staff Reports Attorney's Report - No report
Manager's Report - No report.
Engineer's Report - Mr. Kennedy noted that the initial intent was to have one overall developer agreement for infrastructure for water, wastewater, and the reclaimed lines for the Lakewood Ranch Southeast Development, however, a timing issue has come up with Toll Brothers. They have started building homes and are about 60-90 days out before being ready to close on those homes with end users. Through a previous agreement with the County, Toll Brothers were required to put in water treatment facilities. Staff met with the County and an agreement was reached that allows the District to move forward with an lnterlocal Agreement between the District and the County for the water facilities only. Mr. Johnson noted that Staff expect to present a draft of the agreement to the County next week and asked that authority be delegated to the Chair in case the agreement needed to be signed prior to the next meeting in order to be included on the County's agenda and for the County to complete the execution of the agreement. The final document will be brought back to the Board for ratification. Mr. Johnson confirmed that the agreement does not obligate the District to pay an amount by a certain date.

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved delegating authority to the Chairman to execute the lnterlocal Agreement.

Mr. Jensen confirmed that board members and Staff would be available in case the May meeting is continue to May 23rd.
Executive Director's Report-	Executed Documents
Ms. Ross provided noted that a form draft reimbursement agreement with Manatee County for the various round-abouts is currently being prepared. The first draft agreement for the Masters and Bourneside intersection will be presented at the May meeting.

ELEVENTH ORDER OF BUSINESS

There were no Supervisor requests.

TWELFTH ORDER OF BUSINESS

Supervisor Requests

Audience Comments

There were no comments from the audience.

THIRTEENTH ORDER OF BUSINESS	Adjournment

Mr. Jensen asked for a motion to adjourn the meeting.

On MOTION by Mr. Gleeson, seconded by Mr. Chiofalo, with all in favor, the Board of Supervisors of the
 Lakewood Ranch Stewardshi District moved to ad·ourn the A ril 5, 2024 meetin .	

Executive Director