Eagle Hammock Community Development District
Meeting Agenda July 13, 2022

Eagle Hammock
Community Development District

219 E. Livingston St., Orlando, Florida 32801 Phone: 407-841-5524 – Fax: 407-839-1526

July 12, 2022

Board of Supervisors Eagle Hammock
Community Development District

Dear Board Members:

A meeting of the Board of Supervisors of the Eagle Hammock Community Development District will be held on Wednesday, July 13, 2022, at 2:00 PM at 4900 Dundee Road, Winter Haven, FL 33884.

Zoom Video Join Link: https://us06web.zoom.us/j/87123601343
Call-In Information: 1-646-876-9923
Meeting ID: 871 2360 1343

Following is the advance agenda for the meeting:

Board of Supervisors Meeting

Roll Call
Public Comment Period (1Speakers will fill out a card and submit it to the District Manager prior to the beginning of the meeting)
Approval of Minutes of the June 8, 2022 Board of Supervisors Meeting
Consideration of Resolution 2022-40 Amending Resolution 2022-10 and Re-Setting the Date of the Public Hearing on the Budget for Fiscal Years 2022 and 2023
Consideration of Resolution 2022-41 Declaring Special Assessments and Setting the Public Hearing on the Imposition of Operations and Maintenance Assessments
Staff Reports
Attorney
Engineer
District Manager’s Report
Other Business
Supervisors Requests and Audience Comments
Adjournment

1 Comments will be limited to three (3) minutes

MINUTES
MINUTES OF MEETING EAGLE HAMMOCK
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Eagle Hammock Community Development District was held on Wednesday, June 8, 2022 at 2:04 p.m. at 4900 Dundee Road, Winter Haven, Florida and by Zoom.

Present and constituting a quorum were:

Branden Eckenrode	Chairman
Brent Elliott	Vice Chairman
Halsey Carson	Assistant Secretary Also, present were:
Tricia Adams	District Manager, GMS
Meredith Hammock	KE Law
Roy Van Wyk by Zoom	KE Law
Ashton Bligh	Greenberg Traurig
Rodney Gadd	Gadd Engineering

The following is a summary of the discussions and actions taken at the June 8, 2022 Eagle Hammock Community Development District’s Regular Board of Supervisor’s Meeting.

FIRST ORDER OF BUSINESS	Roll Call
Ms. Adams called the meeting to order at 2:04 p.m. Three Supervisors were in attendance at the meeting constituting a quorum.

SECOND ORDER OF BUSINESS	Public Comment Period
There were no members of the public present.

THIRD ORDER OF BUSINESS		Approval of Minutes of the May 11, 2022 Landowners’   Meeting   and   Board   of
Supervisors Meeting
Ms. Adams presented the May 11, 2022 Landowners’ meeting and Board of Supervisors meeting minutes. She stated that there was a draft that was included in the agenda packet, and it was bookmarked. She referred to page 8 of the PDF and stated that the meeting minutes had been reviewed by District management staff as well as District counsel.

FOURTH ORDER OF BUSINESS	Consideration of Series 2022 Developer’s
Agreements	and	Notice	of	Special Assessments:
Completion Agreement
Ms. Adams stated that this was an agreement between the District and the developer regarding the completion of the improvements for the engineer’s report. She noted that it would include the improvements that may not be funded by bond proceeds.

Acquisition Agreement
Ms. Adams stated that this agreement goes through the processes and the procedures for accepting real property and products from the developer in accordance with this agreement.
Mr. Van Wyk stated that they had just had some recent changes to the indenture. He stated that they found out that the project was fully platted. Since it is fully platted, they will not need the True- Up Agreement because they know the number of lots. He stated that with approval from the manager and Chair, he would like to pull the True-Up Agreement. He stated that also given the fact that the improvements were substantially completed, they would not ask for the Collateral Assignment Agreement either. The Trust Indenture has been amended to remove those two items because they are not needed. He noted that he was going to pull both for consideration.

True-Up Agreement
Ms. Adams stated that they removed this item.

Collateral Assignment Agreement
Ms. Adams stated that they removed this item.

Declaration of Consent
Ms. Adams stated that the Declaration of Consent was the developer acknowledging the jurisdiction of the CDD as well as consenting to assessments.

Notice of Special Assessments

2

Ms. Adams stated that the Notice of Special Assessments would be filed with public records as a notice to anyone who potentially owns property within the District boundaries.
Ms. Adams stated that what would be approved with this Board action would be the Completion Agreement, the Acquisition Agreement, the Declaration of Consent, and the Notice of Special Assessments. She stated that these had been prepared in accordance with their bond indenture. She noted that these were subject to finalization once the bonds were priced.

FIFTH ORDER OF BUSINESS	Consideration of Resolution 2022-38 Delegation Resolution
Ms. Adams stated that this was the resolution that would set up the parameters for their bond issuance. Ms. Bligh stated that this was the Supplemental Resolution that was contemplated when the Board adopted the Authorizing Resolution earlier this year. She noted that this Delegation Resolution 2022-38 contains documents as exhibits to sell one series of bonds and not to exceed of $5,000,000. She stated that the forms of documents attached to the resolution were listed on page 2 and were forms of a First Supplemental Trust Indenture, a Bond Purchase Contract, a Preliminary Limited Offering Memorandum, a Rule 15c2-12 Certificate of the District, and a Continuing Disclosure Agreement. She noted that a couple of items she wanted to point out includes section 4 and section 5. Florida law requires certain findings so that they do not have to do a public offering. She stated that those findings were listed under section 4. Under section 5 are the parameters for the Series 2022 Bonds, which include any optional redemption of the bonds that would be determined at pricing. She stated that the interest rate on the Series 2022 Bonds shall not exceed the maximum interest rate allowed by Florida law. She noted that the aggregate principal amount of the Series 2022 Bonds shall not exceed
$5,000,000. The Series 2022 bonds shall have a final maturity that is not later than the maximum term allowed by Florida low, which is currently 30 years of principal amortization. The price at which the Series 2022 Bonds shall be sold to the underwriter shall not be less than 98% of the aggregate face amount of the Series 2022 bonds. She concluded the Resolution 2022-38 review and stated that she would be happy to respond to any questions.

3

SIXTH ORDER OF BUSINESS	Presentation and Approval of Updated Preliminary Supplemental Assessment Methodology (dated June 8, 2022)
Ms. Adams stated that this was the document that assigns the fair portion of the District improvements and the debt associated with that to each parcel in each lot within the District. She noted that this had been updated since it was reviewed in May. She stated that there were a few changes with one being the bond sizing which decreased, the interest rate was a little bit higher, and the capitalized interest rate was removed.
Ms. Adams stated that they would review the tables starting with Table 1, the Supplemental Assessment Methodology. She noted that the ERU per unit for the 40’ single family homes was 0.8 and the ERU per unit for the 50’ single family home was 1. She stated that there was a total of 263 units in this project. Table 2 is the Capital Improvement Plan which is their eligible projects that they would find in the engineer’s report. She noted that this table just reiterates the information from the engineer’s reports, and it identifies the value of the improvements. Table 3 is the bond sizing and there was a little bit less in the construction funds which is $3,224,350. She continued reviewing the description of this table in which she stated that the debt service reserve requirement was $128,150, the capitalized interest which would have been the money set aside for their first bond payment and this was removed, the underwriters discount was $72,500 and the cost of issuance was $200,000. She noted that the par amount was $3,625,000. She also noted that these were preliminary numbers based on assumptions. Mr. Eckenrode asked why the construction funds went down. Ms. Adams responded that it was because the interest rate was a little bit higher than the first assumption. Table 4 assigns the benefit per different product type. The 40’ shows the improvement costs per unit as $23,268 and the 50’ as $29,085, both being the allocation of the benefit. For the 40’ product it is $12,446 and for the 50’ product it is $15,558. Table 6 shows the net and gross annual assessment, which is the assessment that will be on the tax roll and each individual parcel/lot owner would receive this as the non-ad valorem assessment on their county tax bill. For the 40’ product the net amount is $880 and the amount that they will see on their tax bill includes the fees that are charged by the county as well as an amount if they take the discount to pay their taxes at the earliest times then the amount on their tax bill would be $946. For the 50’, the net amount is $1,100 and the gross annual debt assessment per unit is $1,183. Table 7 is the preliminary assessment roll, which is the landowners in the District. She noted that this was supplemental preliminary, and they would need to finalize them once their bonds were priced.

4

SEVENTH ORDER OF BUSINESS	Consideration	of	Resolution	2022-39
Supplemental Assessment Resolution
Ms. Adams asked Ms. Hammock to present Resolution 2022-39 to the Board. Ms. Hammock stated that this was the second step in their bond process. She noted that they initially had their assessment resolution maximum amount and that this one scaled it down to just their Series 2022 issuance. She stated that much like their updated Preliminary Supplemental Assessment Methodology, this document would also be updated with actuals. She noted that this was the same in verbiage as the initial assessment resolution that was brought to the Board.
Mr. Van Wyk stated that they were still pending the total dollar amounts in the exhibits because they would not know that until they get their pricing. He asked if they wanted to try and continue this meeting to a date when they could have those numbers filled out or if they want to wait until the July meeting. He stated that the appeal period that they had ends on July 1st and that they probably could get the Certificate of No Appeal by July 8th. He noted that they wouldn’t be able to close before they get the Certificate of No Appeal and the next Board meeting was July 13th. He asked if they wanted to try to squeeze this in as soon as possible or if the July 13th would work for them to come back with this resolution. Ms. Adams ask what the earliest date that the continuation could safely be scheduled. Mr. Van Wyk responded that it would probably be around July 8th because they would need about a week to get the Certificate of No Appeal and the 1st was on a Friday. The Board voted to continue the meeting on July 7th at 3:30 p.m., so there was no action needed at this time.

EIGHTH ORDER OF BUSINESS	Staff Reports
Attorney
Mr. Van Wyk asked if they could make sure that they had a copy of the plat and that they give them an idea of which lands they want to deed over to the District so that they could prepare those documents if there were any common areas. He also suggested that they do not convey anything out to the city or the county without it going through the District. He stated that they wanted to make sure that they run it through the District so that they could pay for it.

Engineer
Mr. Gadd had nothing further to report.

5

District Manager’s Report
Reminder to Board to File Form 1’s with the Supervisor of Elections in the County that they reside by the July 1, 2022 Deadline (by mail or e-mail)
Ms. Adams noted that the Board may have recently received notice from the elections office regarding filing their Form 1’s, which is a financial disclosure that was due annually. She stated that they could file this electronically, in person, or by mail. She also stated that they highly suggested to file electronically or in person. She warned that if it was late, there would be a fee imposed for a late filing and the fee would go to the Board member, not to the District. She noted that it was something that they monitored, and they would send a reminder.

NINTH ORDER OF BUSINESS	Other Business
There being none, the next item followed.

TENTH ORDER OF BUSINESS	Supervisors	Requests	and	Audience
Comments
There being none, the next item followed.
ELEVENTH ORDER OF BUSINESS	Adjournment

Secretary/Assistant Secretary	Chairman/Vice Chairman

6

Section IV
RESOLUTION 2022-40

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE EAGLE HAMMOCK COMMUNITY DEVELOPMENT DISTRICT AMENDING RESOLUTION 2022-10 TO RE-SET THE DATE OF THE PUBLIC HEARING ON THE PROPOSED BUDGET FOR FISCAL YEARS 2021/2022 AND 2022/2023; DIRECTING THE DISTRICT MANAGER TO PROVIDE NOTICE THEREOF; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Eagle Hammock Community Development District (“District”) was established pursuant to Chapter 190, Florida Statutes, for the purpose of planning, financing, constructing, operating and/or maintaining certain infrastructure improvements; and

WHEREAS, on March 16, 2022, at a duly noticed public meeting, the District’s Board of Supervisors (the “Board”) adopted Resolution 2022-10, approving the proposed budget for the remainder of the fiscal year beginning October 1, 2021, and ending September 30, 2022 (“Fiscal Year 2021/2022 Budget”) and for the the fiscal year beginning October 1, 2022, and ending September 30, 2023 (“Fiscal Year 2022/2023 Budget”) and setting public hearings on each proposed budget for August 10, 2022 at 4900 Dundee Road, Winter Haven, FL 33884;

WHEREAS, the Board now desires to revise the proposed Fiscal Year 2022/2023 Budget and reschedule the public hearings for both budgets to incorporate new information about the District’s anticipated expenditures and allow for publication of the required notices.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE EAGLE HAMMOCK COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. REVISED BUDGET. The revised proposed Fiscal Year 2022/2023 Budget attached hereto as Exhibit A is hereby approved as the basis for conducting a public hearing to adopt said proposed Fiscal Year 2022/2023 Budget. The proposed Fiscal Year 2021/2023 Budget has not been changed at this time.

SECTION 2. PUBLIC HEARING DATE RESET. The District hereby determines it is in the best interests of the District to reset the public hearing on the proposed Fiscal Year 2021/2022 Budget and the proposed Fiscal Year 2022/2023 Budget. Resolution 2022-10 is hereby amended to reflect that the public hearings are reset to:

DATE:	Wednesday, August 24, 2022

HOUR:	1:00 PM

LOCATION:	4900 Dundee Road
Winter Haven, FL 33884

SECTION 3. NOTICE. Notice of the public hearings shall be published in the manner prescribed in Florida law. In accordance with Section 189.016, Florida Statutes, the District’s Secretary is further directed to post the approved proposed budgets on the District’s website at least two days before the budget hearing date.

SECTION 4. RESOLUTION 2022-10 OTHERWISE REMAINS IN FULL FORCE
AND EFFECT. Except as otherwise provided herein, all of the provisions of Resolution 2022- 10 continue in full force and effect.

SECTION 5. SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

SECTION 6. EFFECTIVE DATE. This Resolution shall take effect upon its passage and adoption by the Board of Supervisors of the Eagle Hammock Community Development District.

PASSED AND ADOPTED this 13th day of July, 2022.

ATTEST:	EAGLE HAMMOCK COMMUNITY DEVELOPMENT DISTRICT

Secretary
By:	 Its:		

Exhibit A:	Revised FY 2022/2023 Proposed Budget

Eagle Hammock
Community Development District

Proposed Budget
FY2022 - FY2023

6M3

Table of Contents

1		General Fund

		General Fund Narrative
Eagle Hammock
Community Development District Proposed Budget
General Fund

	Proposed Budget	Actuals Thru	Projected Next	Total Thru	Proposed Budget						
Description	FY2022*	5/31/22	4 months	9/30/22	FY2023						

Revenues											
Assessments - On Roll	$	-	$	-	$	-	$	-	$	170,950						
Developer Contributions	$	75,516	$	-	$	59,714	$	59,714	$	163,310						
Total Revenues	$	75,516	$	-	$	59,714	$	59,714	$	334,260						

Expenditures											
General & Administrative
Supervisor Fees	
$	7,000	
$	-	
$	-	
$	-	
$	12,000						
Engineering	$	8,750	$	-	$	-	$	-	$	15,000						
Attorney	$	14,583	$	6,777	$	16,000	$	22,777	$	25,000						
Annual Audit	$	-	$	-	$	-	$	-	$	5,000						
Assessment Administration	$	-	$	-	$	-	$	-	$	5,000						
Arbitrage	$	-	$	-	$	-	$	-	$	500						
Dissemination	$	-	$	-	$	-	$	-	$	5,000						
Trustee Fees	$	-	$	-	$	-	$	-	$	5,000						
Management Fees	$	20,417	$	7,339	$	11,667	$	19,005	$	35,000						
Information Technology	$	1,050	$	315	$	500	$	815	$	1,800						
Website Maintenance **	$	2,450	$	2,065	$	500	$	2,565	$	1,200						
Telephone	$	175	$	-	$	50	$	50	$	300						
Postage & Delivery	$	583	$	11	$	120	$	131	$	1,000						
Insurance	$	5,000	$	2,849	$	-	$	2,849	$	5,000						
Copies	$	583	$	-	$	125	$	125	$	1,000						
Legal Advertising	$	10,000	$	9,341	$	659	$	10,000	$	10,000						
Contingency	$	4,000	$	-	$	1,250	$	1,250	$	5,000						
Office Supplies	$	365	$	3	$	20	$	23	$	625						
Travel Per Diem	$	385	$	-	$	-	$	-	$	660						
Dues, Licenses & Subscriptions	$	175	$	125	$	-	$	125	$	175						
Total General & Administrative:	$	75,516	$	28,824	$	30,891	$	59,714	$	134,260	

Operations & Maintenance											
Field Contingency	$	-	$	-	$	-	$	-	$	200,000	
Total Operations & Maintenance:	$	-	$	-	$	-	$	-	$	200,000	
											
Total Expenditures	$	75,516	$	28,824	$	30,891	$	59,714	$	334,260	

Product	ERU's	Assessable Units	ERU/Unit	Net Assessment	Net Per Unit	Gross Per Unit	
Platted	263.00	263	1.00	$170,950.00	$650.00	$698.92	

* Budget is prorated from March 2022 to September 2022.
** Budget amount includes a one-time website creation fee.

1

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all assessable property within the District to fund all general operating and maintenance expenditures during the fiscal year.

Developer Contributions

The District will enter into a funding agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.

Expenditures:

General & Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed
$4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

Engineering

The District's engineer will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on an anticipated bond issuance.

2

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon an anticipated bond issuance.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Telephone

Telephone and fax machine.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverages.

Copies

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes, etc.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

3

Contingency

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Travel Per Diem

The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for
$175. This is the only expense under this category for the District.

Operations & Maintenance:

Field Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

4

Section V
RESOLUTION 2022-41

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE EAGLE HAMMOCK COMMUNITY DEVELOPMENT DISTRICT DECLARING SPECIAL ASSESSMENTS TO FUND THE PROPOSED BUDGETS PURSUANT TO CHAPTERS 170, 190 AND 197, FLORIDA STATUTES; SETTING PUBLIC HEARINGS; ADDRESSING PUBLICATION; ADDRESSING SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (“Board”) of the Eagle Hammock Community Development District (“District”) has prior to June 15, 2022, approved a proposed budget (“Proposed Budget”) for the fiscal year beginning October 1, 2022 and ending September 30, 2023 (“Fiscal Year 2022/2023”), and has revised said budget and rescheduled the public hearing on said budget for Wednesday, August 24, 2022, at 1:00 PM at 4900 Dundee Road, Winter Haven, FL 33884; and

WHEREAS, after further consideration, it is in the best interest of the District to fund the administrative and operations services (together, “Services”) set forth in the Proposed Budget, a current copy of which is attached as Exhibit A, in whole or in part by levy of special assessments pursuant to Chapters 170, 190 and 197, Florida Statutes (“Assessments”), as set forth in the preliminary assessment roll included within the Proposed Budget; and

WHEREAS, the District hereby determines that benefits would accrue to the properties within the District, as outlined within the Proposed Budget, in an amount equal to or in excess of the Assessments, and that such Assessments would be fairly and reasonably allocated as set forth in the Proposed Budget; and

WHEREAS, the Board has considered the proposed Assessments, and desires to set the required public hearings thereon;

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE EAGLE HAMMOCK COMMUNITY DEVELOPMENT DISTRICT:

DECLARING ASSESSMENTS. The current form of the Proposed Budget, attached hereto as Exhibit A, is hereby approved for use in proceedings to levy and impose the Assessments. Pursuant to Chapters 170, 190 and 197, Florida Statutes, the Assessments shall defray the cost of the Services in the total estimated amounts set forth in the Proposed Budget. The nature of, and plans and specifications for, the Services to be funded by the Assessments are described in the Proposed Budget which is on file and available for public inspection at the “District’s Office,” Governmental Management Services - Central Florida, LLC, 219 E. Livingston Street Orlando, Florida 32801. The Assessments shall be levied within the District on all benefitted lots and lands, and shall be apportioned, all as described in the Proposed Budget and the preliminary assessment roll included therein.  The preliminary
assessment roll is also on file and available for public inspection at the District’s Office. The Assessments shall be paid in one more installments pursuant to a bill issued by the District in November of 2022, and pursuant to Chapter 170, Florida Statutes, or, alternatively, pursuant to the Uniform Method as set forth in Chapter 197, Florida Statutes.

SETTING A PUBLIC HEARING. Pursuant to Chapters 170, 190, and 197, Florida Statutes, a public hearing on the Assessments are hereby declared and set for the following date, hour and location:

DATE:	Wednesday, August 24, 2022
HOUR:	1:00 PM
LOCATION:	4900 Dundee Road Winter Haven, FL 33884

PUBLICATION AND MAILING OF NOTICE. The District shall cause this Resolution to be published once a week for a period of two weeks in a newspaper of general circulation published in Polk County. Additionally, notice of the public hearings shall be published and mailed to affected property owners in the manner prescribed in Florida law.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 13TH DAY OF JULY, 2022.

ATTEST:	EAGLE HAMMOCK COMMUNITY DEVELOPMENT DISTRICT

Secretary
By:	 Its:		

Exhibit A:	Proposed Budget

Eagle Hammock
Community Development District

Proposed Budget
FY2022 - FY2023

6M3

Table of Contents

1		General Fund

2-4		General Fund Narrative
Eagle Hammock
Community Development District Proposed Budget
General Fund

	Proposed Budget	Actuals Thru	Projected Next	Total Thru	Proposed Budget						
Description	FY2022*	5/31/22	4 months	9/30/22	FY2023						

Revenues											
Assessments - On Roll	$	-	$	-	$	-	$	-	$	170,950						
Developer Contributions	$	75,516	$	-	$	59,714	$	59,714	$	163,310						
Total Revenues	$	75,516	$	-	$	59,714	$	59,714	$	334,260						

Expenditures											
General & Administrative
Supervisor Fees	
$	7,000	
$	-	
$	-	
$	-	
$	12,000						
Engineering	$	8,750	$	-	$	-	$	-	$	15,000						
Attorney	$	14,583	$	6,777	$	16,000	$	22,777	$	25,000						
Annual Audit	$	-	$	-	$	-	$	-	$	5,000						
Assessment Administration	$	-	$	-	$	-	$	-	$	5,000						
Arbitrage	$	-	$	-	$	-	$	-	$	500						
Dissemination	$	-	$	-	$	-	$	-	$	5,000						
Trustee Fees	$	-	$	-	$	-	$	-	$	5,000						
Management Fees	$	20,417	$	7,339	$	11,667	$	19,005	$	35,000						
Information Technology	$	1,050	$	315	$	500	$	815	$	1,800						
Website Maintenance **	$	2,450	$	2,065	$	500	$	2,565	$	1,200						
Telephone	$	175	$	-	$	50	$	50	$	300						
Postage & Delivery	$	583	$	11	$	120	$	131	$	1,000						
Insurance	$	5,000	$	2,849	$	-	$	2,849	$	5,000						
Copies	$	583	$	-	$	125	$	125	$	1,000						
Legal Advertising	$	10,000	$	9,341	$	659	$	10,000	$	10,000						
Contingency	$	4,000	$	-	$	1,250	$	1,250	$	5,000						
Office Supplies	$	365	$	3	$	20	$	23	$	625						
Travel Per Diem	$	385	$	-	$	-	$	-	$	660						
Dues, Licenses & Subscriptions	$	175	$	125	$	-	$	125	$	175						
Total General & Administrative:	$	75,516	$	28,824	$	30,891	$	59,714	$	134,260	

Operations & Maintenance											
Field Contingency	$	-	$	-	$	-	$	-	$	200,000	
Total Operations & Maintenance:	$	-	$	-	$	-	$	-	$	200,000	
											
Total Expenditures	$	75,516	$	28,824	$	30,891	$	59,714	$	334,260	

Product	ERU's	Assessable Units	ERU/Unit	Net Assessment	Net Per Unit	Gross Per Unit	
Platted	263.00	263	1.00	$170,950.00	$650.00	$698.92	

* Budget is prorated from March 2022 to September 2022.
** Budget amount includes a one-time website creation fee.

1

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all assessable property within the District to fund all general operating and maintenance expenditures during the fiscal year.

Developer Contributions

The District will enter into a funding agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.

Expenditures:

General & Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed
$4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

Engineering

The District's engineer will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on an anticipated bond issuance.

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Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon an anticipated bond issuance.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Telephone

Telephone and fax machine.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverages.

Copies

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes, etc.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

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Contingency

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Travel Per Diem

The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for
$175. This is the only expense under this category for the District.

Operations & Maintenance:

Field Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

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