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

Minutes - Board of Supervisor's Meeting May 3, 2024, 9:00 a.m.
Attending and constituting a quorum:

Rex Jensen Tony Chiofalo John Gleeson Ed Hunzeker
Also attending were:
Jane Gaarlandt Jorge Orsini Jennifer Glasgow Brent Wilder Kevin Plenzler Jonathan Johnson Anne Ross
Brett Sealy Sete Zare Misty Taylor Scott Almand Tacy Caridi Bob Simons Denise Gray

Chair Person
Vice-Chair Person / Assistant Secretary Assistant Secretary
Assistant Secretary

PFM Group Consulting LLC
PFM Group Consulting LLC (by phone) PFM Group Consulting LLC (by phone) PFM Financial Advisors LLC
PFM Financial Advisors LLC	(by phone) Kutak Rock
LWRSD MBS MBS BMO SMR
LWR Development LWR Development LWR Development

Rob Engel Mike Kennedy
Suzanne Henke

FIRST ORDER OF BUSINESS

Stantec Stantec Public

(by phone)

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.

There were no public comments.
SECOND ORDER OF BUSINESS

Public Comments

Administrative Matters
Nomination(s) for Vacant seat 4 (term expires
2026)

Ms. Ross noted that a potential candidate has been identlfie	M.Org !nfOFma!!On ?7!!! be bre gh! beck to the= Board over the next couple of months.

THIRD ORDER OF BUSINESS

Consideration of General Election Resolutions
Manatee County
Sarasota County

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Ms. Gaarlandt notes that as of April 15’h there were 23,778 registered voters in Manatee County and 2,327 registered voters in Sarasota County.
FOURTH ORDER OF BUSINESS	Consideration of General Election Resolutions
Resolution 2024-26, Manatee County
Resolution 2024-27, Sarasota County
Mr. Johnson provided details of the resolutions noting the resolutions sets forth that in the upcoming general election seat 1 is to be filled by a Manatee County qualified elector and seat 2 is to be filled by a Sarasota qualified elector. Mr. Johnson noted an update will be made to the included draft notice to reflect that candidates must register with the Florida Department of State, Division of Elections, Bureau of Election Records,

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Resolutions 2024-26 and 2024-27, General Election.

FIFTH ORDER OF BUSINESS
Mr. Jensen presented the consent agenda:

Consent Agenda

Minutes
April 5, 2024 Board of Supervisors Meeting
Rebate Report — Special Assessment
Special Assessment Revenue Bonds, Series 2019 (the Isles at Lakewood Ranch Project — Phase 1)
Engineer's Report
Change Order No. 3
Frederick Derr & Company Inc. Silver Falls Run Extension
Fine Dress after MSB install; light pole stakeout; hydroseed sewer easement Lake 15; Fire hydrant adjust to Grade; Install FDOT Type 1 railing for Flume; BB1 adjustment
Change Order No. 7
Frederick Derr & Company Inc. 44” Avenue East Phase VI Irrigation — Drainage and Utility materials increase
	Change Order No. 7 Westra Construction Corporation
Waterside Lift Station No. 12 Deduct Sod and Hydroseeed and increase offsite fill dirt
Change Order No. 1 NDL LLC
Landscape & Irrigation Services “Grand Living Roadways” Expanded scope of work and cost increase
Addition of Waterside monument area at Lucent PI and University Pkwy, Lucent PI extension south of Canon St, Canon St extension east of Lucent PI and cost increases to mulch and annual flowers. Pre-

change  order  cost;  mulch
$50.00 CY and annuals $3.00 LS. Change order increase to; mulch $62.00 CY and annuals
$2.75 LS

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor. the Board of Supervisors of the Lakewood Ranch Stewardship District approved the items on the consent agenda.

SIXTH ORDER OF BUSINESS

This item was deferred.
SEVENTH ORDER OF BUSINESS

Business Matters
Consideration of Financing Matters Relative to the Lakewood Ranch Southeast Project, Series 2024 Special Assessment Revenue Bonds
B. Other Matters (provided under separate cover)

Consideration of Financing Matters Relative to the Palm Grove Project, Series 2024 Special Assessment Revenue Bonds
Other Matters (provided under separate cover)

Mr. Sealy noted a public hearing is scheduled in conjunction with the June meeting.
EIGHTH ORDER OF BUSINESS		Consideration of Financing Matters Relative to the Star Farms — Phase 3/4 Project, Series 2024 Special Assessment Revenue Bonds
Supplemental Engineer's Report
	Supplemental Assessment Methodology Report
Resolution	2024-24,	Delegation
Resolution
Form of Forty-Second Supplemental Trust Indenture
Form of Bond Purchase
Contract
Form of Preliminary Limited
Offering Memorandum
Form of Continuing Disclosure Agreement
Other Matters (provided under separate cover)
Mr. Sealy noted that the items on today's agenda are the next steps in the process to issue the second series of Star Farms neighborhood infrastructure bonds as requested by Forestar.
Mr. Johnson noted that the draft Supplemental Engineer's Report and Supplemental Assessment Methodology Report are included for informational purposes only.
Ms. Taylor provided details of the standard and typical Awards and Delegation Resolution authorizing to issue not-to-exceed $12.5 million of bonds. Pre-closing is scheduled for the June meeting.
Mr. Jensen noted for the record that this transaction will not impact anyone outside of the boundaries of Star Farms.

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 2024-24, Delegation Resolution.

There were no other matters for consideration or discussion
NINTH ORDER OF BUSINESS		Consideration of Water Utility Interlocal Agreement between Sarasota County and the Lakewood Ranch Stewardship District for the Southeast Lakewood Ranch Master Development
Ms. Ross provided details of the project noting that final details are still being discussed with the County.
On a question from Mr. Chiofalo, Mr. Johnson confirmed that the District will not proceed until the agreement with Tolls brothers previously approved by the Board has been fully executed.

On MOTION by Mr. Hunzeker, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved the Water Utility Interlocal Agreement between Sarasota County and the District in substantial form subject to final engineering, legal. and Staff sign off.

TENTH ORDER OF BUSINESS	Consideration of Roundabout Reimbursement Agreement between Manatee County and Lakewood Ranch Stewardship District for Masters Avenue and Bourneside Boulevard
Ms. Ross asked this item be tabled and brough back at the next meeting.
ELEVENTH ORDER OF BUSINESS	Consideration of Bid Award for Dam Road Water
Main and 44” Avenue East Phase S Force Main
Project
Award Recommendation Letter  and Bid
Tabulation
Resolution 2024-24, Award of Contract
Mr. Engel noted that this project is subject to an agreement between the District and an adjacent Developer as well as an upsizing agreement with Manatee County neither of which are in place at this time. Bids for the project was opened on March 20th and one of the three bids received was found to be a qualified bid, however, the bids were good for 60 days and will expire on May 19’^, before the Board meets again. The contractor has agreed to extend the bid to June 18’h.
Mr. Kennedy noted that this situation is applicable to two additional items on today's agenda and requested that the extension be formally documented.
Mr. Jensen noted that with respect to this particular development agreement he will be talking to the attorney that has been working on entitlement issues to send them a notice of default and possibly move on without them as issues are ongoing.

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District authorized Staff to execute a 30-day extension counter signed by the Contractor.

TWELFTH ORDER OF BUSINESS

Mr. Almand presented for the Board's Consideration:

Financial Matters Draw Requests
Requisition List for Draw No. 55
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. 55 - The Villages of Lakewood Ranch South — Pre- Funding.

Requisition List for Draw No. 3
LRSD Taylor Ranch
Series 2023 Bond

On MOTION by Mr. Chiofalo, seconded by Mr. Hunzeker, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Draw No. 3 — LRSD Taylor Ranch, Series 2023 Bond.

Requisition List for Draw No. 32
Northeast Sector Pre-Funding

On MOTION by Mr. Chiofalo, seconded by Mr. Hunzeker, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Draw No. 32 - Northeast Sector — Pre-Funding.

Requisition List for Draw No. 76 Lakewood Centre & NW Sector Pre-Funding

On MOTION by Mr. Chiofalo, seconded by Mr. Hunzeker, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Draw No. 76 - Lakewood Centre & NW Sector — Pre-Funding.

THIRTEENTH ORDER OF BUSINESS
There were no comments to the financial statements. FOURTEENTH ORDER OF BUSINESS
Attorney's Report — No report

Compilation Report

Staff Reports

Manager's Report — Ms. Gaarlandt reminded the Board that the proposed budget for the upcoming fiscal year will be presented at the June meeting.
In order to secure quorum for the June 7th budget meeting, Mr. Johnson suggested continuing the meeting to fill the vacant seat. May 24’h was suggested.

Engineer's Report

Mr. Engel provided details of the scope of the proposal.

Proposal
Frederick Derr and Company, Inc.
New Haven Cleaning # 24-0650

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved the Frederick Derr Proposal.

Mr. Engel provided details of the scope of the proposal.

2"° Revision
Gator Grading and Paving
New Haven Gravity Main Ext.

Mr. Johnson confirmed that the proposal in the amount of $329,415.27 is under the bid threshold.

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved the Gator Grading and Paving 2’d Revision.

Mr. Kennedy noted two additional projects were bid, Bourneside Phase 1 and the Master Lift Station, both of the low bidders for the projects agreed to extend the bids for 60 days to mid-July.

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District authorized Staff to execute a 60-day extension counter signed by the Contractors for the Bourneside Phase 1 and Master Lift Station Projects..

Executive Director's Report — No report
FIFTEENTH ORDER OF BUSINESS
There were no Supervisor requests.
SIXTEENTH ORDER OF BUSINESS
There were no comments from the audience.
SEVENTEENTH ORDER OF BUSINESS
Mr. Jensen asked for a motion to continue the meeting.

Executed Documents Supervisor Requests

Audience Comments

Adjournment

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District moved to continue the May 3, 2024 meeting to May 24, 2024 at 9:00 a.m. at the current location.

cretâ /Assistant Secretary

Exe

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