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

Minutes - Rescheduled Board of Supervisor's Meeting
May 26, 2026, 11:00 a.m.

Attending and constituting a quorum:

Rex Jensen Tony Chiofalo Bob Hanbury John Gleeson Tryn Stimart

Also attending were:

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

Jane Gaarlandt Gazmin Kerr Jennifer Glasgow Kevin Plenzler Jonathan Johnson Scott Almand Heather Ross Misty Taylor
Sete Zare Laura Cole Bob Simons Tracy Caridi Rob Engel Keith Litzell Scott Schuhle Tim Martin
Suzanne Henke

PFM Management Services LLC PFM Management Services LLC PFM Management Services LLC PFM Financial Advisors
Kutak Rock LWRSD LWRSD BMO
MBS
LWR Marketing LWR Development LWR Development Stantec
Stantec US Bank JCH
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 are as outlined above.

Public Comments

There were no public comments.

SECOND ORDER OF BUSINESS

Mr. Jensen presented the consent agenda:

Administrative Matters Consent Agenda
Minutes
May	1,	2026	Board	of Supervisors Meeting
May 1, 2026 Auditor Selection Committee Meeting
Funding Agreement between the District
and Lakewood Ranch Corporate Park LLC (the Reserve Project)

Engineer's Report
Proposal Kimley Horn
SR 64 and Bourneside Boulevard Roundabout Professional Environmental Consulting Services
Change Order No. 5
E.T. MacKenzie of Florida Inc. LWR Southeast Off-site Utilities Credit- Sarasota County Inspection Fee
Change Order No. 6
E.T. MacKenzie of Florida Inc. LWR Southeast Off-site Utilities Connect existing water mains at various locations to convert return water main
Change Change Order No. 7
E.T. MacKenzie of Florida Inc. LWR Southeast Off-site Utilities
Adding RPZ fire backflow preventer at West end of water main for phase 1 fire protection of downstream projects along Bourneside Blvd
Proposal
Frederick Derr & Company, Inc. BRU Taylor Lake Cell 1 Berm Rip Rap
Proposal
Frederick Derr & Company, Inc.

BRU Taylor Lake Cell 2 Berm Rip Rap

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 items on the consent a enda.

THIRD ORDER OF BUSINESS

Business Matters

Consideration of Resolution 2026-23, Approving Proposed Budgets for Fiscal Year 2026-2027 and Setting a Public Hearing Thereon [suggested date: August 7, 2026]

Ms. Ross provided details of the preliminary budget, noting that Staff found it to be reasonable and responsible with assessment increases depending on sectors ranging from $5-$18, which equals 1%-4%. $250,000 has been added to the cash flow reserves; a line of credit is being investigated. Over this current fiscal year 2 additional part-time water taxi captains were added to assure coverage bringing the employee total to 28 individuals. With this new budget 2 additional full-time employees are being requested, a Public Information & Inspection Officer (outreach and education) and a Town Hall North Administrative Assistant. $500,000 has been included toward the design of the Stewardship HQ building.

On MOTION by Mr. Stimart, seconded by Mr. Hanbury, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Resolution 2025-23, Approving Proposed Budgets for Fiscal Year 2026-2027 and Settino a Public Hearlno for Auoust 7, 2026 at 9:00 a.m. at the current location.

Ms. Gaarlandt confirmed that the increases to the assessment are well within the built-out budget.

FOURTH ORDER OF BUSINESS

Consideration of Resolution 2026-24, Setting a Public Hearing on the Adoption of Rules of Procedure [suggested date: August 7, 2026]

Mr. Johnson noted that the updated Rules of Procedure includes the most recent statutory changes. A redlines version will be provided prior to the public hearing.

On MOTION by Mr. Stimart, seconded by Mr. Hanbury, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Resolution 2026-24, Setting a Public Hearing on the Adoption of Rules of Procedure for AuQust 7, 2026 at 9 a.m. at the current location.

FIFTH ORDER OF BUSINESS

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

Deferred to July Meeting.
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
Other Matters (provided under separate cover)

Deferred to July Meeting.
There were no additional matters for consideration.

SEVENTH ORDER OF BUSINESS	Consideration of Contract Recommendation for the Reserve at Lakewood Ranch Phase 1
Bid	Tabulation	and	Award Recommendation Letter
Resolution 2026-25, Award of Contract

Mr. Litzell provided details of the project, recommending award of the contract to Frederick Derr & Company, Inc. for the total bid amount of $8,672,738.15.

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 2026-25, Award of Contract to Frederick Derr & Comoanv, Inc. in the amount of $8,672,738.15.

Mr. Johnson noted that the Funding Agreement for the Reserve Project was approved on the consent agenda.

EIGHTH ORDER OF BUSINESS

Mr. Almand presented for the Board's consideration:

Financial Matters Draw Requests
List for Draw No. 11 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. 11 - Lakewood Ranch Southeast - Series 2025 Bond.

Requisition List for Draw No. 20 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. 20 - SMR Taylor Ranch - Landowner Construction Funding Agreement.

Requisition List for Draw No. 73
The 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. 73 - The Villages of Lakewood Ranch South - Landowner/County Construction Funding Agreement.

Requisition List for Draw No. 4
The 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. 4 - The Villages of Lakewood Ranch South - Bungalow Walk, Series 2024 Bond.

Requisition List for Draw No. 2 Saddlestone Project
Series 2026 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 - Saddlestone Project, Series 2026 Bond.

NINTH ORDER OF BUSINESS

There were no comments to the financial statements.

TENTH ORDER OF BUSINESS

Attorney's Report

Compilation Report

Staff Reports

No report. Mr. Jensen noted that as discussed with District Counsel there is now a legal description for the two slip lane triangles at the roundabout at Legacy and University Parkway as well as an appraisal done by the CDDs and requested Mr. Johnson to put together a quitclaim deed. Mr. Johnson confirmed that no Board action was required at this time.

District Manager's Report	Next Meeting July 10, 2026

Ms. Gaarlandt confirmed attendance for the next meeting scheduled for July 10th and reminded the Supervisors of the July 1st Form 1 filing deadline.

Mr. Gleeson advised that he would not be available for the August 7th meeting.

Engineer's Report

Specific Authorization No. 149 Stantec
Bourneside Blvd-Sarasota (University to Fruitville)
Design, Permitting, & Construction Phase Services

Mr. Engel presented the Specific Authorization in the amount of $385,000.

On MOTION by Mr. Chiofalo, seconded by Mr. Stimart, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Specific Authorization No. 149, Stantec.

Change Order No. 1
E.T. MacKenzie of Florida, Inc. Bourneside Blvd Phase 3
Adding TMS proposal for Street lighting conduit and RRFB installation
Mr. Litzell presented the Change Order in the amount of $361,732.50.

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. 1, E.T. MacKenzie of Florida, Inc.

Change Order No. 8 C&M Road Builders
Bourneside Blvd & Master Ave Roundabout Revisions to The Masters Roundabout lighting and addition of RRFB lights on signs

Revisions to Bourneside deduction	new	poles relocations
Mr. Litzell provided details of the change order in the amount of $162,241.35.

Blvd lighting, and	adding

On MOTION by Mr. Stimart, seconded by Mr. Hanbury, with all in favor, the Board of Supervisors of the Lakewood Ranch Stewardship District approved Change Order No. 8, C&M Road Builders.

Change Order No. 9 C&M Road Builders
Bourneside Blvd & Master Ave Roundabout Directionally drilled 4EA conduit crossings. Crossing FM over Masters station 13+00 culvert w/ PVC not HDPE
Bored FM crossing at Centennial Lane off Masters. Added 10" irrigation pipe, valves and BO at Masters
Material cost increases for SR70 HDPE crossings. Irrigation DIP crossing at station 99+50 instead of 24" at 105+85

Mr. Litzell provided details of the change order in the amount of $85,656.25. A 30-day extension was requested as well bringing the completion date to January 30, 2027.

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. 9, C&M Road Builders.	

Executive Director's Report	Executed Documents

Ms. Ross noted that per notification of Staff the Sarasota County Board will not be considering the BRU Reclaimed Water Agreement until July 7th.

ELEVENTH ORDER OF BUSINESS

There were no Supervisor requests.

TWELFTH ORDER OF BUSINESS

There were no audience comments.

THIRTEENTH ORDER OF BUSINESS

Supervisor Requests

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 Ma 26, 2026 meetin .