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

Minutes - Board of Supervisor's Meeting
June 7, 2024, 9:00 a.m.

Attending and constituting a quorum:

Rex Jensen John Gleeson Ed Hunzeker
Glenda Robertson Also attending were:
Jane Gaarlandt Jennifer Glasgow Brent Wilder Kevin Plenzler Jonathan Johnson Anne Ross Heather Ross Brett Sealy
Sete Zare Misty Taylor Scott Almand Bob Simons Denise Gray Rob Engel Mike Kennedy Scott Schuhle John McKay
Suzanne Henke

FIRST ORDER OF BUSINESS

Chair Person Assistant Secretary Assistant Secretary Assistant Secretary

PFM Group Consulting LLC
PFM Group Consulting LLC	(by phone) PFM Financial Advisors LLC
PFM Financial Advisors LLC	(by phone) Kutak Rock
LWRSD LWRSD MBS MBS BMO SMR
LWR Development LWR Development
Stantec	(by phone)
Stantec
U.S. Bank JHM/NEAL Comm. Public

Call to Order and Roll Call

Ms. Gaarlandt called the meeting to order and proceeded with the roll call noting that Ms. Robertson was sworn in prior to the meeting. The members in attendance are as outlined above.	' , .,,
";
Public Comments

There were no public comments.

SECOND ORDER OF BUSINESS	Administrative Matters Consent Agenda

Mr. Jensen presented the consent agenda:

Minutes
May 3, 2024 Board of Supervisors Meeting
May 24, 2024 Continued Meeting
Project Completion and Assessment Finalization Resolutions

2024-28, Series 2017 Del Webb
	2024-29, Series 2027 Lakewood National and Polo Run
2024-30, series 2019 Lake Club
Phase 4
2024-31, Series 2019 Cresswind
Engineer's Report
Change Order No. 3
RIPA & Associates, LLC Bourneside Blvd II Widening w/3 Roundabouts/ Reclaimed WM & Booster Pump Station
Plan Revisions - Sanitary and Drainage
Change Order No. 3 Frederick Derr & Company Harmony Trail
Reduction for Clearing + Grubbing and Silt Fence and adding additional SOD and sidewalk repairs, storm pipe and grate inlet and concrete price increase
Change Order No. 4 Frederick Derr & Company Silver Falls Run Extension
Additional SOD and price increases to concrete, aggregates, and fuel
	Change Order No. 7 Frederick Derr & Company
Rangeland Parkway Extension Storm Pipe Plugs for Testing, add. Conduit, stabilize curb area and re-pour curb, Junction box­ new riser
Change Order No. 8
Frederick Derr & Company Inc. 44th Avenue East Phase VI Change in materials for water main casing - gate valve and blow off
Specific Authorization No. 140 Stantec
General Construction Phase Services

On MOTION by Mr. Gleeson, seconded by Mr. Hunzeker, with all in favor, the Board of Supervisors of the
roved the items on the consent a enda.	
THIRD 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)

This item was tabled.

FOURTH ORDER OF BUSINESS	Consideration of Financing Matters Relative to the Palm Grove Project, Series 2024 Special Assessment Revenue Bonds
Public Hearing on the Imposition of Special Assessments
Public Comments
Board Comments
Engineer's Report
Master	Assessment	Methodology Report
Resolution 2024-32, Levying Special Assessments
Other Matters (provided under separate cover)
Mr. Johnson noted that a public hearing on the proposed assessments is scheduled for today and stated that the proposed assessments will only apply to lands within the Palm Grove Project.

On MOTION by Ms. Robertson, seconded by Mr. Hunzeker, with all in favor, the Board of Supervisors of the

 Lakewood Ranch Stewardshi	•	•	•	•	. There were no comments from the public.
Mr. Johnson noted that the Engineer's Report included in the agenda packet was unchanged from the document
previously adopted by the Board in substantial form. Table 2, the Summary of Opinion of Probable Cost, outlines the proposed financing of infrastructure cost consisting of approximately $11,000,000 of Stormwater Management, $13,800,000 Water and Sewer Utilities along with Professional Services Fees and Contingency not-to-exceed $30,300,000.

Mr. Plenzler provided details of the Master Assessment Methodology Report stating the report was unchanged from the document presented at the April meeting. The assessments are found to be reasonable and equitably allocated and the benefit received by the property owners is found to be in excess of the related assessments,.

Mr. Johnson provided details of Resolution 2024-24, which puts in place the Master Lien prior to the sale, and adopts the Engineer's Report and the Master Assessment Methodology,

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

 Lakewood Ranch Stewardshi  District a	roved Resolution 2024-32, lev in  S ecial Assessments.

FIFTH ORDER OF BUSINESS	Consideration of Financing Matters Relative to the Star Farms - Phase 3/4 Project, Series 2024 Special Assessment Revenue Bonds
Supplemental Assessment Methodology Report
Resolution 2024-33, Supplemental Assessment Resolution
Other Matters (provided under separate cover)

Mr. Sealy noted that the this was another successful financing with very good institutional participation with mostly the same participants that have historically been purchasing bonds from the Stewardship District for the last 20 years. Details of the pricing is outlined on page 231 of the agenda packet.

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

 Lakewood Ranch Stewardshi  District closed the  ublic hearin  related to the Palm Grove Pro·ect.

Mr. Plenzler provided details of the Supplemental Assessment Methodology Report noting the document was updated to incorporate the final pricing numbers but was otherwise in similar form to what was previously presented to the Board.

Mr. Johnson provided details of Resolution 2024-33.

On MOTION by Mr. Hunzeker, seconded by Ms. Robertson, with all in favor, the Board of Supervisors of the
 Lakewood Ranch Stewardshi  District a	roved Resolution 2024-33, Su	lement Assessment Resolution.

SIXTH ORDER OF BUSINESS	Consideration of Resolution 2024-34, Approving Proposed Budgets for Fiscal Year 2024-2025 and Setting a Public hearing Thereon [suggested date: August 12, 2024]

Ms. Ross presented and provided details of the budget, noting that this was the first full fiscal year with both Stewardship O&M assessments and BRU. The Stewardship Staff continues a concerted effort on the GIS infrastructure and hopefully moving into an asset management program. The BRU budget is very similar to that of the current year with additional lines items added.

On MOTION by Mr. Gleeson, seconded by Ms. Robertson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Resolution 2024-34, Approving Proposed Budgets for Fiscal Year 2024-2025 and Setting an Public Hearing date for August 12, 2024 at 9:00 a.m. at the current location.

A discussion ensued regarding board member availability on August 12th.

On MOTION by Mr. Gleeson, seconded by Ms. Robertson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District Reapproved Resolution 2024-34, Amending the date for the Public HearinQ to AuQust 9, 2024 at 9:00 a.m. at the current location.

SEVENTH ORDER OF BUSINESS	Consideration	of	Reimbursement	Agreement
between Manatee County and the Lakewood Ranch Stewardship District for Masters Avenue at Bourneside Boulevard Roundabout

Ms. Ross presented and provided details of the agreement.

On MOTION by Mr. Gleeson, seconded by Ms. Robertson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District authorized the Chairman to execute the Reimbursement Agreement between Manatee County and the District for Masters Avenue at Bourneside Boulevard Roundabout.

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

Mr. Engel provided details on the project noting that the bid was previously extended 30-days to June 18th. As the reimbursement agreements are not yet in place, an additional 60-days extension has been discussed with the contractor.

On MOTION by Mr. Gleeson, seconded by Ms. Robertson, with all in favor, the Board of Supervisors of the
 Lakewood Ranch Stewardshi  District authorized Staff to seek an additional 60-da bid extension.	

NINTH ORDER OF BUSINESS

Mr. Almand presented for the Board's Consideration:

Financial Matters Draw Requests
Requisition List for Draw No. 5 LRSD Taylor Ranch
Series 2023 Bond

On MOTION by Mr. Hunzeker, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Draw No. 5 - LRSD Taylor Ranch, Series 2023 Bond.

Requisition List for Draw No. 77 Lakewood Centre & NW Sector Pre-Funding

On MOTION by Mr. Hunzeker, seconded by Ms. Robertson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Draw No. 77 - Lakewood Centre & NW Sector - Pre-Funding.

Requisition List for Draw No. 56
The Villages of Lakewood Ranch South Pre-Funding - Landowner/County Construction Funding Agreement

On MOTION by Mr. Hunzeker, seconded by Ms. Robertson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Draw No. 56 - The Villages of Lakewood Ranch South - Pre­ Funding.

Requisition List for Draw No. 33 Northeast Sector
Pre-Funding

On MOTION by Mr. Hunzeker, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Draw No. 33 - Northeast Sector - Pre-Funding.

TENTH ORDER OF BUSINESS	Compilation Report

There were no comments to the financial statements.

ELEVENTH ORDER OF BUSINESS	Staff Reports

Attorney's Report - Mr. Johnson reminded the Board that the ethics training has to be completed by December 31st, noting that board members taking office after March 31st is not obligated to complete the training this year, though that provision is not in the law.

Manager's Report - Ms. Gaarlandt reminded the Board that the next meeting is scheduled for July 12th.

Engineer's Report	Change Order No. 2
RIPA & Associates, LLC
Bourneside Blvd II Widening w/3 Roundabouts/ Reclaimed WM & Booster Pump Station; Booster Pump Deduction

Mr. Engel provided details of Change Order No. 2. Mr. Simons confirmed that the savings to the District is about
$407,000.00.

On MOTION by Mr. Gleeson, seconded by Ms. Robertson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Change Order No. 2, RIPA & Associates, LLC.

Purchase Requisition Request Form Barney's Pumps Inc.
Bourneside	Blvd	II	Widening	with	3 Roundabouts and LWR Reclaimed Water Main and Booster Pump Station Project Booster Pump Station
Mr. Engel provided details of the direct purchase requisition in the amount of $453,986.00.

On MOTION by Mr. Gleeson, seconded by Ms. Robertson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved the Purchase Requisition Request Form, Barney's Pumps Inc.

Quote
C&M Road Builders Incorporated
BRU  Kent  Lake  Booster  Pump  Station

Mr. Engel provided details of the proposal for the installation of the pump in the amount of $351,293.50.

On MOTION by Mr. Gleeson, seconded by Ms. Robertson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved the C&M Road Builders Incorporated Quote.

Specific Authorization No. 141 Stantec
Taylor Ranch BRU Lake Driveway/ Reclaim Main Extension
Mr. Engel provided details of the scope of work in the amount of 77,550.00.

On MOTION by Ms. Robertson, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardshi District a	roved S ecific Authorization No. 141, Stantec.	

Mr. Kennedy provided updates on the continued work on the water treatment plant for LWR Southeast. The package was received from Toll Brothers, however, the Bill of Sales was missing. Documents will be provided to the County for review.

Executive Director's Report	Executed Documents

Ms. Ross expressed her appreciation of Ms. Heather Ross' work on the projects and reminded the Board Members of the Form 1 electronic filing.

TWELFTH ORDER OF BUSINESS

There were no Supervisor requests.

THIRTEENTH ORDER OF BUSINESS

Supervisor Requests

Audience Comments

Ms. Henke asked about the roadway maintenance responsibility within individual Subdivision, specifically Palm Grove and Taylor Ranch. Mr. Jensen responded that it was not the District's responsibility. Mr. Johnson noted that only stormwater and utilities are being financed.

FOURTEENTH ORDER OF BUSINESS	Adjournment

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

On MOTION by Mr. Hunzeker, seconded by Ms. Robertson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardshi District moved to ad·ourn the June 7, 2024 meetin .

ssistant Secretary