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

Minutes - Board of Supervisor's Meeting
December 5, 2025, 9:00 a.m. Attending and constituting a quorum:

Rex Jensen Tony Chiofalo John Gleeson Tryn Stimart Bob Hanbury
Also attending were:

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

Jane Gaarlandt Gazmin Kerr Jennifer Glasgow Brent Wilder Kevin Plenzler Lindsay Whelan Anne Ross Heather Ross Scott Almand Misty Taylor Brett Sealy
Sete Zare Bob Simons Tracy Caridi Laura Cole Rob Engel Keith Litzell Scott Schuhle James Dexter

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

(by phone) (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 are as outlined above.
Mr. Jensen presented a newly published book about the history of Lakewood Ranch and invited everyone to pick up a copy.
Public Comments

There were no public comments.

SECOND ORDER OF BUSINESS	Administrative Matters Consent Agenda

Mr. Jensen presented the consent agenda:

Minutes
November 7, 2025 Board of Supervisors Meeting
1

Engineer's Report
Change Order No. 1 AtkinsRealis Lorraine Road Utilities Project
Change Order No. 3
C&M Road Builders
Bourneside Widening - SR-70 to University & Masters Ave Roundabout Project
Deductive Change Order for Rinker Materials - materials purchased by owner
Direct Purchase Order Rinker Materials, Inc. C&M Road Builders
Bourneside Widening - SR-70 to University & Masters Ave Roundabout
Change Order No. 4 C&M Road Builders
Bourneside Blvd and Masters Ave Roundabout
Deductive Change Order for ISCO Industries, Inc. - materials purchased by owner
Direct Purchase Order ISCO Industries, Inc. C&M Road Builders
Bourneside Widening - SR-70 to University & Masters Ave Roundabout
Change Order No. 5 C&M Road Builders
Bourneside Blvd and Masters Ave Roundabout
Deductive Change Order for Atlantic TNG, LLC - materials purchased by owner
Direct Purchase Order Atlantic TNG, LLC C&M Road Builders
Bourneside Widening - SR-70 to University & Masters Ave Roundabout
Direct Purchase Order Core & Main
E.T. MacKenzie of Florida, Inc. Lakewood Ranch Southeast Off-Site Utilities

On MOTION by Mr. Chiofalo, seconded by Mr. Hanbury, 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 Saddlestone (Taylor Ranch) Project, Series 2025 Special Assessment Revenue Bonds
A. Other Matters (provided under separate cover)

Tabled to the January meeting.

FOURTH ORDER OF BUSINESS	Consideration of Agreement between the District and Manatee County for Bourneside Blvd. East Sector (SR70 to University) for Multimodal Trail Reimbursement

Ms. Ross provided details of the agreement in the amount of $661,339.00.including permitting costs and contingencies.

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 Multimodal Trail Reimbursement A reement.	

FIFTH ORDER OF BUSINESS	Consideration of Agreement between the District and Juniper Landscaping of Florida LLC for Landscape Maintenance Services (Taylor Section Landscape Berm)

Ms. Ross provided details of the agreement in the amount of $152,078.98 annually.

On MOTION by Mr. Stimart,
 Lakewood Ranch Stewardshi

by Mr. Gleeson, with all in favor, the Board of Supervisors of the roved the Juni er Landsca e Maintenance Services A reement.

SIXTH ORDER OF BUSINESS	Consideration of Request for Qualifications (RFQ), Project Development and Environment (PD&E) Study of Fruitville Road Improvements, Evaluation Committee Approval

Ms. Ross provided details of the process per the previously approved Mobility Fee Agreement referring to the memo included in the agenda packet. Mr. Jensen requested that he be the liaison. All documents will be brought back to the Board for ratification. The RFQ will be noticed for January 6, 2026. Ms. Whelan noted that her office was involved in the preparation of the RFQ to make sure it was consistent with the conditions of the Agreement. Ms. Ross requested a Motion to authorize Staff to commence the Request for Qualifications procurement, approve the proposed Evaluation Committee Members, Protest Judge, Evaluation Criteria in its substantial form, and Supervisor Jensen as Board liaison for the selection of a Fruitville Road Widening PD&E Study Consultant. Schedule is subject to change per engagement with the County, in accordance with the timelines provided in Mobility Fee Agreement.

On MOTION by Mr. Hanbury, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District authorized Staff to commence the Request for Qualifications procurement, approve the proposed Evaluation Committee Members, Protest Judge, Evaluation Criteria in its substantial form, and Supervisor Jensen as Board liaison for the selection of a Fruitville Road Widening PD&E Study Consultant.

SEVENTH ORDER OF BUSINESS

Mr. Almand presented for the Board's Consideration:

Financial Matters Draw Requests
Requisition List for Draw No. 5 Lakewood Ranch Southeast Series 2025 Bond

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. 5 - Lakewood Ranch Southeast - Series 2025 Bond.

Requisition List for Draw No. 14 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. 14 - SMR Taylor Ranch - Landowner Construction Funding Agreement.

Requisition List for Draw No. 2 Villages of Lakewood Ranch South "Bungalow walk"
Series 2024 Bond

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. 2 -Villages of Lakewood Ranch South, Series 2024 Bond.

Requisition List for Draw No. 70 Villages of Lakewood Ranch South
Landowner/County 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. 70 -Villages of Lakewood Ranch South, Landowner/County Construction Funding Agreement.

Requisition List for Draw No. 10 Bourneside Blvd & Masters Ave Roundabout
Landowner Funding

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. 10 - Bourneside Blvd & Masters Ave Roundabout - Landowner Funding.

EIGHTH ORDER OF BUSINESS	Compilation Report

There were no comments to the financial statements.

NINTH ORDER OF BUSINESS	Staff Reports

Attorney's Report - Ms. Whelan noted Counsel is monitoring bills that are being filed and will continue to provide updates as they progress. The bills most closely watched is the sovereign immunity bill increasing limits. The bond validation hearing is for the District building is set for February 3rd via Zoom.

Manager's Report - Ms. Gaarlandt reminded the Board that the next meeting is scheduled for the second Friday, January 9th_
Mr. Wilder noted that PFM in their role as Financial Advisor to the District in coordination with the District's Underwriter, MBS, monitors the debt portfolio for refinancing opportunities and then pass on those savings to the impacted residents in the form of lower debts assessments. A couple of bonds are being closely watched for possible refinancing, 1. Series 2015 Lakewood Center North Project, approximately $20 million outstanding. 2. Series 2016 Villages of Lakewood Ranch South Project. Mr. Jensen asked that Mr. Wilder and Mr. Sealy work with Mr. Chiofalo to verify the accuracy of the disclosure report closing numbers. Mr. Jensen provided additional information on refinancings.

Engineer's Report

Change Order No. 6
Frederick Derr & Company Inc. Bourneside Ph 1 - SE
TMS Proposal for FPL and Rapid Flashing Lights

Mr. Engel provided details of the change order in the amount of $989,533.00. Mr. Engel confirmed that 10% Management Fee is standard.

On MOTION by Mr. Chiofalo, seconded by Mr. Stimart, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Change Order No. 6, Frederick Derr & Company Inc.

Change Order No. 3 Ryangolf Corporation Bourneside Phase 2 - SE
TMS Proposal for FPL and Rapid Flashing Lights

Mr. Engel noted that an updated version was handed out.and presented the Change Order in the amount of
$744,630.00

On MOTION by Mr. Chiofalo, seconded by Mr. Stimart, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Change Order No. 3, Ryangolf Corporation.

Executive Director's Report

No additional report.

TENTH ORDER OF BUSINESS

Executed Documents

Supervisor Requests

There were no Supervisor requests.

ELEVENTH ORDER OF BUSINESS

There were no audience comments.

TWELFTH ORDER OF BUSINESS

Audience Comments

Adjournment

On MOTION by Mr. Stimart, seconded by Mr. Hanbury, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardshi District moved to ad·ourn the December 5, 2025 meetin .

Executive Director

-