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

Minutes - Board of Supervisor's Meeting
May 1, 2026, 9:00 a.m.

Attending and constituting a quorum:

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

Jane Gaarlandt Gazmin Kerr Jennifer Glasgow Kevin Plenzler Jonathan Johnson Heather Ross Cindy von Samen Misty Taylor
Brett Sealy Sete Zare Laura Cole Bob Simons Tracy Caridi Rob Engel Keith Litzell Scott Schuhle
Suzanne Henke

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

PFM Management Services LLC PFM Management Services LLC PFM Management Services LLC PFM Financial Advisors
Kutak Rock LWRSD LWRSD BMO
MBS MBS
LWR Marketing LWR Development LWR Development Stantec
Stantec US Bank Public

(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.

Public Comments

Ms. Henke had questions relative to the Stantec Specific Authorization No. 148 on the consent agenda. Staff responded and confirmed that the ERP certification was not related to the modification request for 44th Avenue and White Eagle. Mr. Chiofalo clarified that this was for Taylor Ranch area and was funded by the Developer as the bond funds were exhausted.
Ms. Henke also inquired about a $16,000 expenditure on the March financial statement for the East Sector. Ms. Ross will follow up.
SECOND ORDER OF BUSINESS	Administrative Matters

Review of Letters from the Supervisor of Elections Regarding Number of Registered Voters
Manatee County (provided under separate cover)
Sarasota County

Ms. Gaarlandt noted for the record that as of April 15th of the current year there are 30,074 registered voters in Manatee County and 3,775 registered voters in Sarasota County.

THIRD ORDER OF BUSINESS	Seating of the Auditor Selection Committee

Ms. Gaarlandt suggested the Board seat itself as the Auditor Selection Committee as quorum is required.

On MOTION by Mr: Chiofalo, seconded by Mr. Gleeson, with all in favor, the Board of Supervisors of the
 Lakewood Ranch Stewardshi  District seated itself as the Auditor Selection Committee.	

FOURTH ORDER OF BUSINESS	Consent Agenda

Mr. Jensen presented the consent agenda:
Minutes
April	10,	2026	Board	of Supervisors Meeting
First Amendment to the Agreement
between the District and Kimley-Horn and Associates, Inc. for the Environmental Study of the Future SR64 & Lighterwood Trail Roundabout Project
Cepra Landscape Proposal for Landscape Installation at the Bourneside & University RAB
Engineer's Report
Bayside Sod Installation Proposal
Bayside Sod Inc.
Bourneside Blvd. between SR70
& Master Ave.
Del Webb Berm Restoration
Bayside Sod Installation Proposal
Bayside Sod Inc.
Bourneside Blvd. between SR70
& Master Ave.
Del Webb Berm Restoration -
Additional Turf
Change Order No. 1 Woodruff & Sons, Inc. Shellstone Trail
PVC SCH 40 Irrigation Conduit - Reimbursable by Homes by Towne
Change Order No. 158 Under Specific Authorization no. 131 Stantec
SR-64 and Uihlein Road Roundabout
Design, Permitting, and Construction Phase Services Project
Change Order No. 148 Stantec
44th Ave East Phase 6 -
Construction Services

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

roved the items on the consent a enda.

FIFTH ORDER OF BUSINESS	Business Matters

Consideration of Financing Matters Relative to the Stillwater Project, Series 2025 Special Assessment Revenue Bonds
Other Matters (provided under separate cover)

Mr. Sealy noted that the offering documents are anticipated to be mailed out in July with pre-closing scheduled to coincide with the August based on directions from the Landowner, Lennar.
There were no additional matters for consideration.

SIXTH ORDER OF BUSINESS	Consideration of Financing Matters Relative to the Reserve (Infrastructure) Project, Series 2026 Special Assessment Revenue Bonds
Consideration of Resolution 2026-22, Rescinding Resolution 2026-19 and setting a Public Hearing Date on the Imposition of Special Assessments [suggested date: July 10, 2026]
Other Matters (provided under separate cover)
I
Mr. Johnson noted that due to quorum issues the June meeting had to be rescheduled. Resolution 2026-22
rescinds the prior resolution and instead establishes the public hearing for the July 10th meeting.

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 2026-22, Rescinding Resolution 2026-19 and Setting a Public Hearing Date for the Imposition of Special Assessments for July 10, 2026 at 9:00 a.m. at the current location.

SEVENTH ORDER OF BUSINESS

Mr. Almand presented for the Board's consideration:

Financial Matters Draw Requests
List for Draw No. 10 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. 10 - Lakewood Ranch Southeast - Series 2025 Bond.

Requisition List for Draw No. 19
SMR Taylor Ranch
Landowner 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. 19 - SMR Taylor Ranch - Landowner Construction Funding Agreement.

Requisition List for Draw No. 3
The Villages of Lakewood Ranch South Bungalow Walk
Series 2024 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. 3 - The Villages of Lakewood Ranch South - Bungalow Walk, Series 2024 Bond.

EIGHTH ORDER OF BUSINESS	Compilation Report

There were no comments to the financial statements.

NINTH ORDER OF BUSINESS

Attorney's Report

Staff Reports

Mr. Johnson provided updates on ongoing efforts not directly tied to the Stewardship District but implicating Districts generally noting that the individual companies on Staff's side as well as SMR were all members of an organization called The Association of Florida Community Developers. Over the last few months inaccurate press about Special Districts have come out. AFCD, which serves as a clearing house for information and advocacy in general for Master Planned Communities has brought on board a public relations firm to help provide some more accurate information in a very publicly available format. Mr. Johnson provided additional information as well as flyers to be distributed to the Board Members

District Manager's Report	Next Meeting May 26 (rescheduled June 5
meeting)

Ms. Gaarlandt confirmed quorum with Mr. Chiofalo, Mr. Hanbury, and Mr. Gleeson for the May 26th meeting noting that this meeting is scheduled for 11 a.m.
Ms. Gaarlandt reminded the Board that an Auditor Selection Committee meeting is scheduled immediately following the adjournment of the Board meeting.
Engineer's Report
Change Order No. 1
Frederick Derr & Company, Inc. Toll Brothers Connector Road
Toll guard house station grinder changes, requested by SMR
Mr. Engel presented the Change Order in the amount of $256,734. The amount is reimbursable by Toll Brothers.

On MOTION by Mr. Chiofalo, seconded by Mr. Hanbury, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Change Order No. 1, Frederick Derr & Company, Inc.

Change Order No. 4
Frederick Derr & Company, Inc. SR-64 & Uihlein Road
MOT increase in days; Asphalt and milling to East & West project limits; FDC grind away pavement markings; Sidewalk & curb overruns; MSD invoices for FDOT testing
Mr. Litzell presented the Change Order in the amount of $687,436.75. Mr. Simons provided details.

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. 4, Frederick Derr & Company, Inc.

Change Order No. 7 Ryangolf Corporation Bourneside Ph 2 - SE

Conduit crossings; Sidewalk sleeves; Additional Staking

Mr. Engel provided details of the change order in the amount of $122,781.96.

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. 7, Ryangolf Corporation.

Change Order No. 9
Frederick Derr & Company, Inc. Bourneside Ph 1 - SE
Lake Excavation per final as-builts; Reclaim & Irrigation reductions and additions; FDC removal and regrade; Engineer revisions to add red color to roundabout concrete aprons
Mr. Engel provided details of the change order in the amount of $323,265.80.

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. 9, Frederick Derr & Company, Inc.

Change Order No. 4
E.T. MacKenzie of Florida, Inc. LWR Southeast Off-site Utilities
Addition of second directional drill crew

Mr. Engel provided details of the Change Order in the amount of $1,290,944 noting the second crew was necessary in order to keep the completion schedule. It was confirmed that sufficient funds are available to cover the change order.

On MOTION by Mr. Chiofalo, seconded by Mr. Hanbury, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Change Order No. 4, E.T. MacKenzie of Florida, Inc.

Executive Director's Report

No report.

TENTH ORDER OF BUSINESS

There were no Supervisor requests.

ELEVENTH ORDER OF BUSINESS

There were no audience comments.

TWELFTH ORDER OF BUSINESS

Executed Documents

Supervisor Requests

Audience Comments

Adjournment

On MOTION by Mr. Gleeson, seconded by Mr. Hanbury, with all in favor, the Board of Supervisors of the
 Lakewood Ranch Stewardshi District moved to ad·ourn the Ma 1, 2026 meetin .	

/Assistant Secretary