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

Minutes - Board of Supervisor's Meeting November 7, 2025, 9:00 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

Also attending were.

Jane Gaarlandt Gazmin Kerr Jennifer Glasgow Brent Wilder Jonathan Johnson Anne Ross Heather Ross Scott Almand Misty Taylor
Brett Sealy Sete Zare Bob Simons Tracy Caridi Rob Engel Keith Litzell Scott Schuhle
Suzanne Henke

PFM Group Consulting LLC PFM Group Consulting LLC PFM Group Consulting LLC PFM Financial Advisors Kutak Rock
LWRSD LWRSD LWR MBO MBS MBS
LWR Development LWR Development Stantec
Stantec US Bank Public

(by phone) (by phone)

(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 in attendance outlined above.

are as

Public Comments

There were no public comments.

SECOND ORDER OF BUSINESS

Administrative Matters

Consideration of Resolution 2026-03, Election of Officers

Ms. Gaarlandt noted the Board could opt to keep the current slate of officers with Mr. Stimart replacing Ms. Robertson as Assistant Secretary.

1

MOTION by Mr. Hanbury, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Resolution 2026-03, Keeping the current slate of officers with Mr. Stimart replacing Ms. Robertson as Assistant Secretary.

THIRD ORDER OF BUSINESS

Consent Agenda

Mr. Jensen presented the consent agenda:

i.

Minutes

•

October	10,	2025	Board	of Supervisors Meeting

ii. iii.

FY25 Goals & Objectives Report

Arbitrage Rebate Reports
Special Assessment Revenue Bonds, Series 2020 (Azario Project)

•

Special Assessment Bonds Series 2020 Lakes Project)

Revenue (Lorraine

•

Special  Assessment

Revenue

Bonds Series 2020 (Northeast

Sector Project)
Project Completion and Assessment Finalization Resolution
2026-04, Lakewood Ranch Stewardship District Special Assessment Revenue Bonds, Series 2019 (Northeast Sector Project — Phase 2A)
Engineer's Report

iv.

v.

•

Geotechnical Services Proposal Universal Engineering Services (UES)

SR-64

&	Bourneside

Blvd

Roundabout

•

Landscape Proposal

Cepra Landscape

Bourneside Catalina

Blvd	Del

Webb

•

Change Order No. 154

Under

Specific Authorization No. 141 Stantec

Taylor	Ranch

BRU

Lake

Driveway/	Reclaim

Main

Extension
Change Order No. 2 Ryangolf Corporation Bourneside Phase 2 — SE Combine	multiple

•

Lake

Excavation pay items into one pay item

•

Change Order No. 1
Frederick Derr & Company Inc. SR-64 & Uihlein Road
Road Work	-asphalt	striping removal, milling and paving Change Order No. 2
Frederick Derr & Company Inc. SR-64 & Uihlein Road
Adjusted items for storm sewer from revised plans; Labor and equipment cost adjustment; FDOT required paint for all striping

•

2

•

Change Order No. 2
Frederick Derr & Company Inc. LWR Parcel J Lift Station Electrician	trenched	and installed add. Conduit and wire for PRECO location; Concrete pour for PRECO transformer pad
Change Order No. 2
Frederick Derr & Company Inc. Blue Lake Road
Blue Lake Road Park — Silt fence; Bahia Sod; 10’ concrete sidewalk; Hydro seen open fill areas; repair washouts on Lake slopes
Change Order No. 13
Frederick Derr & Company Inc. Rangeland Parkway Extension Strip	and	Dress	originally seeded area with bahia sod; remove		and		replace	broke sidewalk and curb
Change Order No. 15
Frederick Derr & Company Inc. 44” Avenue East Phase VI Repair	of	area	after		well installation; Sodding originally seeded	 areas	as		per	SMR request;		Curb	 and		sidewalk repair
Change Order No.1 C&M Road Builders
Bourneside Widening — SR-70 to University & Masters Ave Roundabout Project
Corrective Change Order to Rectify contract amount typo in executed contract, correcting amount from $4,897,663.35 to
$7,186,459.10
Estimated Cost for Materials Testing and Inspection Services Driggers Engineering Services, Inc.
Toll Brothers Connector Road

•

•

•

•

•

FOURTH ORDER OF BUSINESS

Business Matters

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

3

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

FIFTH ORDER OF BUSINESS

Consideration of Contract Recommendation for LWRSE University Parkway Widening Project (Lorraine Road to Bourneside BLVD)

A.

Award Recommendation Letter and Bid Tabulation
Resolution 2026-05, Award of Contract

B.

Mr. Engel provided details recommending awarding the contract to C&M Road Builders for the total bid amount of $12,983,409.80, which is below the estimated CIP amount.

SIXTH ORDER OF BUSINESS

Consideration of University & Lorraine Traffic Signal Improvements Design Proposal, Traffic Management Solutions (TMS)

Ms. Ross provided details of the proposal in the amount of $137,500.00. Mr. Jensen noted that there will be some County participation as well.

SEVENTH ORDER OF BUSINESS

Financial Matters

Draw Requests

Mr. Almand presented for the Board's Consideration:

Requisition List for Draw No. 2 Palm Grove
Series 2024 Bond

Mr. Engel confirmed that the infrastructure will be turned over to the County. Mr. Johnson noted that the acquisition agreement associated with the bonds includes provisions that should there be a delay in acceptance by the County resulting in any increased costs for the District those cost has to be paid by the Developer.

Requisition List for Draw No. 4 Lakewood Ranch Southeast Series 2025 Bond

Requisition List for Draw No. 13 SMR Taylor Ranch
Landowner Construction Funding
Agreement

4

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. 13 — 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. 4 — Lakewood Ranch Southeast — Series 2025 Bond.

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. 2 — Palm Grove — Series 2024 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 the University & Lorraine Traffic Signal Improvement Design Proposal, Traffic Management Solutions (TMS).

On MOTION by Mr. Gleeson, seconded by Mr. Hanbury, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Resolution 2026-05, Award of Contract to C&M Road Builders in the amount of $12,983,409.80.

Requisition List for Draw No. 90 Lakewood Centre and NW Sector Landowner Construction Funding Agreement

Requisition List for Draw No. 69 Villages of Lakewood Ranch South
Landowner/County Construction Funding Agreement

Requisition List for Draw No. 50 Northeast Sector
Landowner Construction Funding Agreement

EIGHTH ORDER OF BUSINESS

Compilation Report

There were no comments to the financial statements.

NINTH ORDER OF BUSINESS

Staff Reports

Attorney's Report — Mr. Johnson provided updates on possible legislative changes. Mr. Johnson suggested that Mr. Jensen emphasizes to the representative the District's value to the communities.

Manager's Report — No Report.

Engineer's Report

Change Order No. 2 & Material Purchase
Agreement
C&M Road Builders

Bourneside	Blvd	and

Masters

Ave

Roundabout

Deductive	Change	Order	for	STAline

Waterworks, Inc. materials purchased by
Owners

Mr. Engel presented the deductive change order in the amount of $1,445,450.56 and direct purchase agreement with over $81,000 in tax savings.

5

On MOTION by Mr. Hanbury, seconded by Mr. Stimart, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Change Order No.2 & Material Purchase Agreement.

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. 50 - 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. 69 —Villages of Lakewood Ranch South, Landowner/County Construction Funding Agreement.

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. 90 — lakewood Centre and NW Sector — Landowner Construction Funding Agreement.

Change Order No. 4
Frederick Derr & Company Inc. Bourneside Ph 1 - SE
Return Water main valve and return line; Potable water testing and fittings; Water main blowoff

Mr. Engel provided details of the change order in the amount of $688,852.00.

Change Order No. 5 & Core & Main Agreement with LWRSD
Frederick Derr & Company Inc. Bourneside Ph 1 - SE
Deductive	Change Order for materials purchased by Core & Main

Mr. Engel presented the deductive Change Order in the amount of $195,267.12 with tax savings for the District exceeding $11,100.03.

Irrigation Proposal
Irrigation Design Associates, Inc. (IDA) Bourneside Blvd — SR 70 to Solera

Mr. Engel presented the IDA irrigation proposal in the amount of $339,914.00.

Landscape Proposal Altec Lakes
Bourneside Blvd — SR 70 to Solera

Mr. Engel presented the Altec Lakes landscape proposal in the amount of $380,763.40.

Executive Director's Report

Executed Documents

Ms. Ross expressed her appreciation for Ms. Caridi's assistance with the extensive paperwork related to direct purchase orders.

TENTH ORDER OF BUSINESS

Supervisor Requests

There were no Supervisor requests.

ELEVENTH ORDER OF BUSINESS

Audience Comments

There were no audience comments.

TWELFTH ORDER OF BUSINESS

Adjournment

6

On MOTION by Mr. Chiofalo, seconded by Mr. Stimart, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved the Landscape Proposal, Altec Lakes.

On MOTION by Mr. Chiofalo, seconded by Mr. Hanbury, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved the Irrigation Proposal, Irrigation Design Associates, Inc. {IDA).

On MOTION by Mr. Gleeson, seconded by Mr. Hanbury, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Change Order No. 5 & Core & Main Agreement with LWRSD, Frederick Derr & Company Inc..

On MOTION by Mr. Gleeson, seconded by Mr. Stimart, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Change Order No. 2, Frederick Derr & Company Inc..

ecre

ssistant Secretary

Executive Director

7

On MOTION by Mr. Gleeson, seconded by Mr. Hanbury, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District moved to adjourn the November 7, 2025 meeting.