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

Minutes - Board of Supervisor's Meeting October 10, 2025, 11:00 a.m.

Attending and constituting a quorum:

Rex Jensen Tony Chiofalo John Gleeson Tryn Stimart Bob Hanbury

Chair
Vice-Chair / Assistant Secretary Assistant Secretary
Board Member Assistant Secretary

(by phone)

Also attending were:

Jane Gaarlandt Gazmin Kerr Jennifer Glasgow Jonathan Johnson Anne Ross Heather Ross Cindy Von Saman Scott Almand Misty Taylor
Sete Zare Bob Simons Tracy Caridi Laura Cole Rob Engel Keith Litzell Scott Schuhle

PFM Group Consulting LLC PFM Group Consulting LLC PFM Group Consulting LLC Kutak Rock
LWRSD LWRSD LWRSD LWR MBO MBS
LWR Development LWR Development LWR Marketing Stantec
Stantec US Bank

(by phone) (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. The members outlined above.

in attendance

are as

Public Comments

There were no public comments.

SECOND ORDER OF BUSINESS

Administrative Matters

Nomination(s) for Vacant Seat 4 (term expires November 2026)

Mr. Johnson noted that Mr. Chiofalo is currently in Seat 3, which will transition to General Election in November 2026, whereas the vacant Seat 4 will remain a Landowner Seat and suggested that in order for Mr. Chiofalo to continue his services to the District he offers his resignation from Seat 3 contingent upon his appointment to Seat 4.

Mr. Chiofalo offered his resignation from Seat 3 contingent upon his appointment to Seat 4.

1

Mr. Hanbury joined the meeting by phone.

Ms. Ross introduced Mr. Tryn Stimart, a Lake Club resident, noting that he was a qualified candidate for the Board.
Mr. Stimart provided additional information about his background and interest in joining the Board, noting that he is an attorney by trade. He has lived in the community for about five years and is currently serving as President for the Lake Club Homeowners Association.

Ms. Gaarlandt administered the Oath of Office to Mr. Stimart.

THIRD ORDER OF BUSINESS

Consent Agenda

Mr. Jensen presented the consent agenda:

i.

Minutes

•

September  5, 2025  Board of
Supervisors Meeting

ii.

Arbitrage Rebate Report

•

Special Assessment	Revenue Refunding  Bonds,  Series  2020

(Country Club East Project) Financing Matters Relative to the LWR Southeast Project

iii.

•

Resolution 2026-01, Ratifying the Sale of the Series 2025 Special Assessment Revenue Bonds
Disclosure of Public Financing

•

iv.

Engineer's Report

•

Change Order No. 17 RIPA & Associates, LLC

Bourneside Blvd II Widening s/3

Roundabouts/ Reclaimed WM & Booster Pump Station
Field modifications - abandon and grout existing 6”, 8” and 10” watermain; sidewalk demo and completing	10”	and 5” sidewalk; gate valve assembly Change Order No.18
RIPA & Associates, LLC Bourneside Blvd II Widening s/3 Roundaboutsl Reclaimed WM & Booster Pump Station
Replace damaged light pole due

•

to

vehicle	impact	(includes

12.5’/o)
JT's

•

Irrigation	Restoration

Specialist

Bourneside Blvd. & Rangeland Roundabout

2

MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District appointed Mr. Stimart to vacant Seat 3.

MOTION by Mr. Jensen, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District appointed Mr. Anthony Chiofalo to Board Seat 4.

MOTION by Mr. Gleeson, seconded by Mr. Jensen, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District accepted Mr. Chiofalo's resignation from Seat 3 contingent upon his appointment to Seat 4.

•

Change Order No. 153 Under Specific Authorization No. 137 Stantec

Masters Bourneside

Avenue

and

Boulevard

Roundabout Project

FOURTH ORDER OF BUSINESS

Business Matters

Consideration

of

Resolution	2026-02,

Authorizing the Issuance of Non-ad Valorem

Revenue Bonds for the Purchase of Land and Real Property and Construction of District Headquarters Facilities; Establishing Intent to Reimburse Certain Capital Expenditures; Authorizing Validation Proceedings

Mr. Johnson provided background for the need to issue and secure authority for Non-Ad Valorem bonds to include vertical construction anticipating the District's needs for a post SMR Stewardship.
Mr. Ross provided details on the properties to be purchased.
Ms. Taylor presented the resolution noting a modification to the third paragraph to include additional language.

FIFTH ORDER OF BUSINESS

Consideration

of

Financing

Matters

Relative to the Saddlestone (Taylor Ranch)

Project, Series 2025 Special Assessment Revenue Bonds
A. Other Matters (provided under separate cover)

Tabled for November meeting.
Ms. Ross provided details on the project location.

SIXTH ORDER OF BUSINESS

Consideration

of

Reimbursement

Agreement	between	the	District	and

Sarasota County for Offsite Utilities, Mater

Wastewater

Interlocal

Agreement

(Forcemain and Mole Lift Station Upgrades)

Ms. Ross provided details noting that this agreement is part of the reimbursement of different projects within Lakewood Ranch. Mr. Chiofalo noted that the reimbursement is capped at $375,000.

SEVENTH ORDER OF BUSINESS

Consideration of Mobility Fee Agreement between the District and Sarasota County (Fruitville Road Widening (East))

Mr. Jensen provided background noting that built into the Bond issuance for the LWR Southeast area is up to $4 million for use in impact fee prepayment to facilitate the Fruitville Road widening.

3

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 Reimbursement Agreement between the District and Sarasota County.

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 2026-02, Authorizing the Issuance of Non-ad Valorem Revenue Bonds for the Purchase of Land and Real Property and Construction of District Headquarters Facilities subject to modification as stated above..

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.

Mr. Jensen noted that Sarasota County Staff had approached the District expressing belief that the District can do the preliminary design and engineering study on the road improvement better and faster than the County. In addition to the PDNE study on the segment from Lorraine Road out to Bourneside but also taking it all the way out to Burner Road. The intent is to make this a separate project and asked for the Board's authorization for District Officers and Executive Director to work with District Staff and the District Engineer to solicit Engineering proposals under the CCNA.

EIGHTH ORDER OF BUSINESS

Consideration of SurvTech Solutions, Inc.
Work Order for GIS Services

Ms. Ross provided details on the Work Order very beneficial.

in the amount of $299,788 noting that the work was proving to be

Financial Matters

NINTH ORDER OF BUSINESS

Draw Requests

Mr. Almand presented for the Board's Consideration:

Requisition List for Draw No. 2 Lakewood Ranch Southeast Series 2025 Bond

Requisition List for Draw No. 11
SMR Taylor Ranch
Landowner Construction Funding Agreement

Requisition List for Draw No. 49 Northeast Sector
Landowner Construction Funding Agreement

Requisition List for Draw No. 68 Villages of Lakewood Ranch South
Landowner/County Construction Funding
Agreement

4

On MOTION by Mr. Chiofalo, seconded by Mr. Hanbury, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Draw No. 49 - Northeast Sector - Landowner 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. 11 — SMR Taylor Ranch — Landowner 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. 2 — Lakewood Ranch Southeast — Series 2025 Bond.

On MOTION by Mr. Hanbury, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved the SurvTech Solutions, Inc. Work Order for GIS Services.

MOTION by Mr. Gleeson, seconded by Mr. Hanbury, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District authorized the Chair and District Staff to proceed with the noticing under the Consultant Competitive Negotiation Act for Solicitation for Engineering Assistance with the PFNE Study.

On MOTION by Mr. Gleeson, seconded by Mr. Stimart, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved the Mobility Fee Agreement between the District and Sarasota County (Fruitville Road Widening (East)) in substantial form and authorizing the Chair, Vice-Chair, or Executive Director to further negotiate and execute the final agreement.

Requisition List for Draw No. 12
SMR Taylor Ranch
Landowner Construction Funding
Agreement

Requisition List for Draw No. 3 Lakewood Ranch Southeast Series 2025 Bond

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 provided updates on possible legislative changes. Ms. Whelan will be covering the meeting for Mr. Johnson for the next couple of months.

Manager's Report — Ms. Gaarlandt noted that with the change to the Board the Election of Officers resolution will be added to next month's agenda.

Engineer's Report

Landscape Proposal Cepra Landscape
Rangeland & Bourneside Roundabout

Mr. Litzell presented the landscape proposal in the amount of $113,465.01.
Mr. Simons confirmed that landscaping is in accordance with DOT requirements.

Change Order No.1 Ryangolf Corporation Bourneside Phase 2
Deductive Change Order for Materials purchased by Core & Main, Foley Products Company, and Quality Precast Solutions

Mr. Litzell noted the next two items are related. First item is the deductive Change Order in the amount of
$4,524,709.33. Tax savings for the District in the amount of $256,257.13.

5

On MOTION by Mr. Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Change Order No. 1, Ryangolf Corporation.

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 Landscape Proposal, Cepra Landscape.

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. 23— Lal‹ewood Ranch Southeast — Series 2025 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. 12 — SMR Taylor Ranch — Landowner Construction Funding Agreement.

On MOTION by Mr. Chiofalo, seconded by Mr. Stimart, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Draw No. 68 -Villages of Lakewood Ranch South, Landowner/County Construction Funding Agreement.

Direct Purchase Agreements
Bourneside Boulevard Phase 2

Mr. Litzell presented the related Direct Purchase Agreement.

Executive Director's Report

Executed Documents

Ms. Ross introduced Ms. Cindy von Saman, who is working at Townhall North and will be helping Ms. Ross with the PDNE Study under the CCNA.

TWELFTH ORDER OF BUSINESS

Supervisor Requests

There were no Supervisor requests.

THIRTEENTH ORDER OF BUSINESS

Audience Comments

There were no supervisor requests.

FOURTEENTH ORDER OF BUSINESS

Adjournment

 Lakewood Ranch Stewardship District moved to adiOIJI*n the October 10, 2025 meeting.	

écretà

ssistant Secretary

Executi

6

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

On MOTION by Mr. Gleeson, seconded by Mr. Hanbury, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved the Direct Purchase Agreements.