Laurel Road Community Development District
3501 Quadrangle Boulevard, Suite 270, Orlando, FL 32817
Phone 407-723-5900; Fax 407-723-5901
https://laurelroadcdd.com/

The following is the agenda for the Board of Supervisors’ Meeting and Auditor Selection Committee Meeting of the Laurel Road Community Development District scheduled to be held Wednesday, June 10, 2026, at 12:30 P.M. at 5800 Lakewood Ranch Blvd, Sarasota, FL 34240.
Dial-In:	1-844-621-3956	Access Code:	2536 634 0209
https://pfmcdd.webex.com/join/carvalhov

BOARD OF SUPERVISORS’ MEETING AGENDA

Administrative Matters
Roll Call to Confirm Quorum
Public Comment Period [for any members of the public desiring to speak on any proposition before the Board]
Consent Agenda
Minutes of the May 13, 2026, Board of Supervisors’ Meeting
C&M Road Builders Purchase Requisition for Atlantic TNG Sales Order
Voltaire Proposal for E-Bike Maintenance
Payment Authorization Nos. 143 – 147
Funding Request Nos. 210 – 212
District Financial Statements
Appointment of Auditor Selection Committee
Business Matters
Consideration of Series 2026 Bonds Documents:
Resolution 2026-06, Special Assessment Resolution
Final Pricing Numbers (June 24, 2026)
Update on the Laurel Road Widening Project
Other Business Staff Reports
District Counsel
District Engineer
District Manager
Next meeting: July 8, 2026
Field Services Operation Manager
Lifestyle Director

Supervisor Requests and Comments Adjournment

AUDITOR SELECTION COMMITTEE MEETING AGENDA

Roll Call to Confirm a Quorum
Review and Approval of Audit Documents
Audit RFP Notice
Instructions to Proposers
Evaluation Criteria – with and without price
Adjournment

Consent Agenda

Minutes of the May 13, 2026, Board of Supervisors’ Meeting

MINUTES OF MEETING

LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS’ MEETING
Wednesday, May 13, 2026, at 12:30 p.m.
5800 Lakewood Ranch Blvd, Sarasota, FL 34240

Board Members present:
Pete Williams	Chairperson
Janice Snow	Vice Chairperson
John Blakley	Assistant Secretary Dale Weidemiller Assistant Secretary John Leinaweaver   Assistant Secretary

Also present:
Vivian Carvalho	PFM MS – District Manager		
Kwame Jackson	PFM MS – ADM	(via phone)	
Amanda Lane	PFM MS – District Accountant	(via phone)	
Kevin Plenzler	PFM MS	(via phone)	
Kim Ashton	Vogler Ashton – District Counsel	(via phone)	
Tom Panaseny	Neal Land & Neighborhoods – Developer	(via phone)	
John Wollard	Neal Land & Neighborhoods – Developer		
John McKay	J.H. McKay, LLC – Consultant		
Bobbi Claybrooke	AM Engineering – District Engineer	(via phone)	
Andy Richardson	Neal Land & Neighborhoods – Developer	(via phone)	
Sydney Pollock	WTS – Lifestyle Director	(via phone)	
Kendall Bulleit	MBS	(via phone)	

FIRST ORDER OF BUSINESS	Administrative Matters

Roll Call

The Board of Supervisors’ Meeting for Laurel Road CDD was called to order at 12:35 p.m. Those in attendance are outlined above either in person or via speakerphone.

Public Comment Period

There were no members of the public present.

Consent Agenda Items #1 – 13

Minutes of the April 8, 2026, Board of Supervisors’ Meeting
C&M Road Builders Proposal for Phase 2 DPO Material
C&M Road Builders Proposal for Phase 2 Lift Station Pumps
Cornerstone Proposal for Phase 2 Stormwater Pollution Prevention Plan
Impact Proposal for Hong Kong Orchid Tree Replacement
Impact Proposal for Model Row Tree Replacements
Kimley-Horn	Agreement	for Mitigation Monitoring
Purchase	and	Sale	Agreement with Milestone Supply, LLC
Safetouch Proposal for Amenity Door Strike Replacement
Safetouch	Proposal	for	Kiosk Relocation
Payment Authorization Nos. 140 –
143
Funding Request Nos. 206 – 209
District Financial Statements
The Board reviewed the consent agenda items.

ON MOTION by Mr. Weidemiller, seconded by Mr. Williams, with all in favor, the Board approved the Consent Agenda items 1 - 13.

SECOND ORDER OF BUSINESS	Consideration	of	Resolution	2026-02,
Approving a Preliminary Budget for Fiscal Year 2027, and Setting a Public Hearing Date

Ms. Carvalho noted the recommended date to hold the Public Hearing is August 12, 2026, at 12:30 p.m., at the current location.

Ms. Carvalho gave an overview of the Resolution and noted it has been reviewed by the Development Team and District Staff.

Ms. Lane noted the net revenue of the preliminary budget is $1,189,127.91. This is an increase and the residents will receive notice.

The Board reviewed the budget. Ms. Snow noted there are areas where the budget can be reduced.

Ms. Snow noted that a full-time employee and two part-time employees are included within the budget.

Mr. Williams recommended reviewing the District Counsel line item and gave a brief overview of the assessment roll process.

The Board reviewed the proposed assessments.

Ms. Lane noted there was an adjustment of $3.50 in the net income. The net revenue budget was adjusted to $1,189,124.41.

There was brief discussion regarding the assessment increase and communication with residents.

ON MOTION by Mr. Williams, seconded by Mr. Weidemiller, with all in favor, the Board approved Resolution 2026-02, Approving a Preliminary Budget for Fiscal Year 2027, and Setting a Public Hearing Date for August 12, 2026, at 12:30 p.m., in the Training Room, with a net revenue budget of $1,189124.41.

Review of Letter from Supervisor of Elections, Sarasota County

Ms. Carvalho noted that as of April 15, 2026, there are 310 registered voters within the District.

ON MOTION by Mr. Williams, seconded by Mr. Leinaweaver, with all in favor, the Board accepted the Letter from the Supervisor of Elections, Sarasota County.

Consideration of Resolution 2026-03, Designating Board Member Seats for the 2026 General Election

Ms. Carvalho noted the District has met the threshold to have Seats run in the General Election. Seat 1, currently held by Mr. Weidemiller, Seat 3, currently held by Mr. Blakley, and Seat 5, currently held by Mr. Leianweaver, are all up for the General Election.

There was brief discussion regarding what Seats will run for General Election. Seat 1 will run in the Landowner’s Election.

ON MOTION by Mr. Williams, seconded by Mr. Leinaweaver, with all in favor, the Board approved Resolution 2026-03, Designating Board Member Seats 3 and 5, for the 2026 General Election.

Ms. Carvalho gave an overview of the General Election process. It was noted the Seats will rollover if no one runs. The Board will have 90 days from the General Election to appoint a registered voter to the Board.

Consideration of Resolution 2026-04, Designating a Date, Time and Location for the 2026 Landowner’s Meeting

Ms. Carvalho noted that Seat 1 will run in the Landowner’s Meeting. This Seat has a four year term. The date of the Landowner’s Meeting will be November 18, 2026.

ON MOTION by Mr. Weidemiller, seconded by Ms. Snow, with all in favor, the Board approved Resolution 2026-04, Designating a Date, Time, and Location for the 2026 Landowner’s Meeting, with a date of November 18, 2026, at the current location.

There was brief discussion regarding the number of registered voters.

Consideration of Supplemental Engineer’s Report

Mr. Panaseny noted this is regarding the completion of Phase 2.

Mr. Williams noted there are 190 units within Phase 2 and the public infrastructure is totaled at
$10,964,948.05. It was noted there was a typo on the related Series of bonds. Ms. Bulleit noted Ms. Claybrooke will be making the adjustments noted.

ON MOTION by Mr. Weidemiller, seconded by Mr. Williams, with all in favor, the Board approved the Supplemental Engineer’s Report, with the noted amendments.

Consideration	of	Supplemental Assessment Methodology Report

Mr. Plenzler gave an overview of the report. It was noted this is related to the Series 2026 bonds and the assessments will be allocated according to the adopted methodology.

ON MOTION by Mr. Williams, seconded by Mr. Leinaweaver, with all in favor, the Board approved the Supplemental Assessment Methodology Report.

Consideration	of	Resolution	2026-05, Bond Delegation Award Resolution

Ms. Ashton gave an overview of the Resolution. This is related to a second Supplemental Bond Indenture with a not to exceed of $6 million and is within the parameters of the Supplemental Engineers Report and Supplemental Assessment Methodology Report.

ON MOTION by Mr. Williams, seconded by Mr. Leinaweaver, with all in favor, the Board approved Resolution 2026-05, Bond Delegation Award Resolution.

Review and Acceptance of FY 2025 Audit Report

Ms. Carvalho gave an overview of the auditing process and report. Once approved, the report is filed with Auditing General and posted on the District’s website.

ON MOTION by Mr. Williams, seconded by Ms. Snow, with all in favor, the Board accepted the FY 2025 Audit Report.

THIRD ORDER OF BUSINESS	Other Business

Staff Reports

District Counsel –	No report.

District Engineer –	Not present.

District Manager –	Ms. Carvalho noted the next Board meeting is scheduled for June 10, 2026, at 12:30 p.m.

Field Services Operation Manager – Not present.

Lifestyle Director – No report.

Audience	Comments	and	Supervisor Requests

Mr. Weidemiller noted he is resigning from the consultant agreement, and Mr. Wollard will be taking over as the consultant. He noted there are several items that need review.

There were no further comments or requests at this time.

FOURTH ORDER OF BUSINESS	Adjournment

There was no further business to discuss.

ON MOTION by Mr. Williams, seconded by Mr. Weidemiller, with all in favor, the Board of Supervisors’ Meeting for the Laurel Road Community Development District adjourned the meeting at 1:07 p.m.

Secretary / Assistant Secretary	Chairperson / Vice Chairperson

Laurel Road Community Development District

C&M Road Builders Purchase Requisition for Atlantic TNG Sales Order

DNA Partners, L.L.C dba C&M Road Builders

5/18/2026

	Vistera Phase 2		
Laurel Road CDD .P.O. #	VISCDDP2 #5	$	290,599.00		
Vendor Name:		Atlantic TNG		
Invoice #	Date	Amount	To Date Amount	Remaining	Tax Savings	
Sales Order	5/18/2026	$	290,599.00			Exempt	

						

						

						

						

						

						

						

						

						
		$	290,599.00			$	-	

Summary		
Original PO Amount	$	290,599.00	
PO Changes (+/-)		
Revised PO		
Less Previous Invoices	$	-	
Current Invoices	$	290,599.00	
		
Remaining PO Balance	$	(290,599.00)	

Contractor	DNA Partners, L.L.C dba C&M Road Builders	
Signature		

Engineer	Kimley Horn/AM Engineering	
Signature		

Owner	Laurel Road Community Development District	
Approval		

Notes: Confirming order only. Pay from invoice.

Attachment 1
Purchase Requisition Request Form

Contact Person for the Material Supplier.
NAME: 	Atlantic TNG Attn: Lori Griffith	         ADDRESS: 		PO Box 729, Sarasota, Florida 34230	        TELEPHONE NUMBER: 	941-355-2988		

Manufacturer or brand, model or specification number of the item.
	** See attached submittal package.	

Quantity needed as estimated by CONTRACTOR.  ** See attached quote	

The price quoted by the supplier for the construction materials identified above.
$ 290,599.00	

The sales tax associated with the price quote. $ 0	

Shipping and handling insurance cost. $  ** N/A	

Delivery dates as established by CONTRACTOR. 	
OWNER: Laurel Road Community Development District	

Authorized Signature (Title)	Date

CONTRACTOR: 	DNA Partners, L.L.C. dba C&M Road Builders	

Authorized Signature (Title)	Project Manager	Date: 5/18/26

Attachment 2 Purchase Order

SEE ATTACHED PURCHASE REQUISITION REQUEST FORM DATED  5/18/2026	
.

Lakewood Ranch Stewardship District State of Florida
Sales Tax Exemption Certificate Number: 	85-8018367937C-5	
.

Laurel Road Community Development District is the Purchaser of the construction materials purchased pursuant to this Purchase Order. Supplier shall provide for the required shipping and handling insurance cost for delivery of the construction materials by the delivery date specified in this Purchase Order.

OWNER:	Laurel Road Community Development District	

Authorized Signature (Title)	Date

CONTRACTOR:  DNA Partners, L.L.C. dba C&M Road Builders	

5/18/26	
Authorized Signature (Title) Project Manager	Date

Attachment 3 Certificate Of Entitlement
The undersigned authorized representative of  Laurel Road Community Development District	
		(hereinafter "Governmental Entity"), Florida Consumer's Certificate of Exemption Number 	85-8018367937C-5	, affirms that the tangible personal property purchased pursuant to Purchase Order Number from Atlantic TNG	 (Vendor) on or after
	5/18/26 (date) will be incorporated into or become a part of a public facility as part of a public works contract pursuant to contract # VISCDDP2 #5	 with  DNA Partners, L.L.C. dba C&M Road Builders (Name of Contractor) for the construction of 	Vistera Phase 2 in the City of Venice			
	.

Governmental Entity affirms that the purchase of the tangible personal property contained in the attached Purchase Order meets the following exemption requirements contained in Section 212.08(6),	F.S.,	and	Rule	12A-1.094,	F.A.C.:
You must initial each of the following requirements.

	 1. The attached Purchase Order is issued directly to the Vendor supplying the tangible personal property the Contractor will use in the identified public works.

The Vendor's invoice will be issued directly to Governmental Entity.

Payment of the Vendor's invoice will be made directly by Governmental Entity to the Vendor from public funds.

Governmental Entity will take title to the tangible personal property from the Vendor at the time of purchase or of delivery by the Vendor.

Governmental Entity assumes the risk of damage or loss at the time of purchase or delivery by the Vendor.

Governmental Entity affirms that if the tangible personal property identified in the attached Purchase Order does not qualify for the exemption provided in Section 212.08(6), F.S., and Rule 12A-1.094, F.A.C., Governmental Entity will be subject to the tax, interest, and penalties due on the tangible personal property purchased. If the Florida Department of Revenue determines that the tangible personal property purchased tax-exempt by issuing this Certificate does not qualify for the exemption, Governmental Entity will be liable for any tax, penalty, and interest determined to be due.

I understand that if I fraudulently issue this certificate to evade the payment of sales tax I will be liable for payment of the sales tax plus a penalty of 200% of the tax and may be subject to conviction of a third degree felony. Under the penalties of perjury, I declare that I have read the foregoing Certificate of Entitlement and the facts stated in it are true.

Signature of Authorized Representative	Title

Purchaser's Name (Print or Type)	Date

Federal Employer Identification Number: 	

Telephone Number:		

You must attach a copy of the Purchase Order to this Certificate of Entitlement. Do not send to the Florida Department of Revenue. This Certificate of Entitlement must be retained in the Vendor's and the Contractor's books and records.

	SALES ORDER	
PO BOX 729
SARASOTA, FL 34230
(941) 355-2988
www.AtlanticTNG.com

DATE:	5/14/2026	REV 5/18/2026	PROJECT: VISTERA OF VENICE
BILL TO:	LAUREL ROAD CDD	COUNTY: SARASOTA
C/O C&M
ATTN:	DAVID WEAVER 941-326-7571

QTY	DESCRIPTION	UNIT COST	AMOUNT	
SANITARY				
	48''Ø MANHOLES - 6" WALLS			
	COATED INSIDE WITH CS-55 (EXCEPT WHERE LINED) AND COATED OUTSIDE WITH CS-55
** INCLUDES THE FOLLOWING: ONE (1) SET OF LIFT PINS, SOG, Z-LOK CONNECTORS, A-LOK CONNECTORS,			
	(5) LUBRICANT **			
1	0'-6' # MH-23	1,923.00	$1,923.00	
4	6'-8' # MH-22, MH-21, MH-13, MH-12	2,552.00	$10,208.00	
1	8'-10' # MH-11	2,901.00	$2,901.00	
4	10'-12' # MH-09, MH-10, MH-08, MH-18	3,425.00	$13,700.00	
4	12'-14' # MH-17, MH-07, MH-05, MH-06	4,089.00	$16,356.00	
2	14'-16' # MH-16, MH-26	4,485.00	$8,970.00	
5	16'-18' # MH-03, MH-04, MH-20, MH-25, MH-19	5,025.00	$25,125.00	
2	18'-20' # MH-01, MH-02	6,248.00	$12,496.00	
3	PRECAST INVERT FOR 48"Ø SAN MANHOLE (MAX BASE HT 4')	325.00	$975.00	

1	RAVEN 405 LINER MH-01
INSIDE #

5,407.00	$5,407.00

23	USF	# 170-CE-ORS	449.00	$10,327.00	
23	HDPE INFLOW PROTECTORS (FOR ABOVE MANHOLES ONLY)	125.00	$2,875.00	
	48''Ø MANHOLES - 6" WALLS			
	COATED INSIDE WITH CS-55 (EXCEPT WHERE LINED) AND COATED OUTSIDE WITH CS-55
** INCLUDES THE FOLLOWING: ONE (1) SET OF LIFT PINS, SOG, Z-LOK CONNECTOR, 1 LUBRICANT **			

1	
18'-20'	
# MH-01A	
5,405.00	
$5,405.00	
1	USF	# 30" CAP1	1,658.00	$1,658.00	
60''Ø MANHOLES - 6" WALLS
COATED INSIDE WITH CS-55 (EXCEPT WHERE LINED) AND COATED OUTSIDE WITH CS-55
** INCLUDES THE FOLLOWING: ONE (1) SET OF LIFT PINS, SOG, Z-LOK CONNECTOR,
1 LUBRICANT **

3	0'-6'	# MH-15, MH-14, MH-24	1,618.00	$4,854.00	
3	USF	# 690-M	3,883.00	$11,649.00	
2	PRECAST INVERT FOR 60"Ø SAN MANHOLE (MAX BASE HT 5')	400.00	$800.00	
4	PALLET OF 2" PRECAST GRADE ADJUSTMENT RINGS (16 PER PALLET)	1,200.00	$4,800.00	
8	12" WIDE BOA TAPE EXTERNAL JOINT WRAP / 150' PER BOX	1,227.00	$9,816.00	
LIFT STATION	$300 CHARGE WILL APPLY IF AN ESCORT IS REQUIRED FOR LIFT STATION			
1	72''Ø LIFT STATION - 8" WALLS	16,400.00	$16,400.00	
COATED INSIDE AND COATED OUTSIDE WITH CS-55, XYPEX ADMIXTURE INSIDE
** INCLUDES THE FOLLOWING: 12" THICK BASE SLAB WITH 12" EXTENSIONS, CONNECTORS. **			
SHIPPING 24.53 VF OF BARREL SECTION.			
1	6" THICK TOP SLAB (HATCH BY CONTRACTOR)	853.00	$853.00	
PLEASE NOTE: WE ARE REQUIRED TO SHIP THIS STRUCTURE COMPLETE. IF THE HATCH HAS NOT BEEN RECEIVED BY COMPLETION OF THIS
PROJECT, AN ADDED FEE OF $600 WILL BE APPLIED TO COVER THE COST OF SHIPPING THE LIFT STATION TOP SLAB.	
1	AGRU LINER INSIDE	15,331.00	$15,331.00	
1	12" WIDE BOA TAPE EXTERNAL JOINT WRAP / 150' PER BOX	1,227.00	$1,227.00	

 STORM	
9	3' X 4' VALLEY GUTTER INLET, 6" WALL, 8" TOP	#ST 300-A, ST-300B, ST 300-C, ST 300-E, ST 300-G, ST 400-C, ST 500-C, ST 700-A, ST 700-C	2,765.00	$24,885.00	
13	4' X 6' VALLEY GUTTER INLET, 6" WALL, 8" TOP	#ST 300-D, ST 300-F, ST 300-H, ST 400-A, ST 400-B, ST 400-D, ST 500-A, ST 500-B, ST 500-D, ST 700-B, ST 700-D, ST 800-A, ST 800-B	4,412.00	$57,356.00	
22	USF# 5106-6149	1,003.00	$22,066.00	
1	48''Ø MANHOLE TYPE P8, 5" WALL	#JB-01	1,887.00	$1,887.00	
1	USF# 170-H	349.00	$349.00	

 TOTAL	$290,599.00
LIFTING APPARATUSES ARE AVAILABLE UPON REQUEST, FOR AN ADDITIONAL CHARGE.
UNLESS SPECIFIED HEREIN, TESTING BY INDEPENDENT LABS IS NOT INCLUDED. IF REQUIRED, ADDITIONAL CHARGES WILL APPLY.
THANK YOU FOR THE OPPORTUNITY TO WORK WITH C&M ON THIS PROJECT.

MEGAN KITCHNER / EB
NOTES: 1) SALES ORDER MUST BE SIGNED AND RETURNED ALONG WITH NOTICE TO OWNER INFORMATION PRIOR TO FABRICATION. 2) PRICES DO NOT INCLUDE SALES TAX. 3) PRICES INCLUDE FREIGHT F.O.B. JOB SITE (IN FULL TRUCKLOAD QUANTITIES) UNLESS STATED OTHERWISE 4) BUYER RESPONSIBLE TO UNLOAD WHEN APPLICABLE. 5) EVERY EFFORT WILL BE MADE TO MEET SCHEDULED DATES, HOWEVER DELIVERY DATES ARE NOT GUARANTEED AND NOT SUBJECT TO BACKCHARGES. 6) PRICES CONTINGENT UPON APPROVAL OF SUBMITTAL DRAWINGS. 7) CONTRACT SUBJECT TO TERMS AND CONDITIONS OF ATLANTIC TNG, LLC.
8) FAILURE OF CONTRACTOR TO PAY ATLANTIC TNG TIMELY SHALL BE A DEFAULT AND ATLANTIC TNG, IN ADDITION TO OTHER REMEDIES, MAY UPON SEVEN (7) DAYS WRITTEN NOTICE STOP WORK PENDING PAYMENT. 9) NOTWITHSTANDING OTHER LANGUAGE IN ANY DOCUMENT, CONTRACTOR SHALL GIVE ATLANTIC TNG FIVE (5) DAYS WRITTEN NOTICE OF AND THE OPPORTUNITY PROMPTLY TO CURE ANY PROBLEM
WITH THE WORK THAT MAY BECOME THE SUBJECT OF A BACKCHARGE, OR SUCH BACKCHARGE SHALL BE WAIVED BY CONTRACTOR. 10) SUBJECT TO WARRANTIES, FINAL PAYMENT SHALL CONSTITUTE ACCEPTANCE OF THE WORK. 11) NOTWITHSTANDING OTHER LANGUAGE IN ANY DOCUMENT, PAYMENT TO CONTRACTOR BY OWNER IS NOT A CONDITION PRECEDENT TO CONTRACTOR’S PAYMENT TO ATLANTIC TNG. 12) IN NO EVENT SHALL THE CONTRACTOR REQUIRE ATLANTIC TNG TO PROVIDE AN UNCONDITIONAL WAIVER OR RELEASE OF CLAIM, EITHER PARTIAL OR FINAL, PRIOR TO RECEIVING PAYMENT OR IN AN AMOUNT IN EXCESS OF WHAT HAS BEEN PAID, AND ANY SUCH WAIVER OR RELEASE SHALL BE VOID. 13) ATLANTIC TNG CANNOT BE RESPONSIBLE FOR TYPOS OR OTHER ERRORS AND RESERVES THE RIGHT TO CANCEL ANY ORDERS ARISING FROM SUCH ERRORS.

PLEASE SIGN AND RETURN

CONFIRMING ORDER ONLY. PAY FROM INVOICE.

SIGNATURE

TITLE
TERM: Net 30 days.

DATE

"We now accept all major credit cards ( * ) , checks by mail, and/or wire transfers at no charge."
* A 3% Credit Card fee will be added to transactions
If tax exempt, plesae attach owner's certificate and original blanket certificate to Sales Order.

II

0000020 02/27/26

.,,--.."\:lORIDA

J  Consumer's Certificate of Exemption I
Issued Pursuant to Chapter 212, Florida Statutes

DR-14
R. 10/25

85-8018367937C-5	04/30/2026	04/30/2031	MUNICIPAL GOVERNMENT

Certificate Number
This certifies that

Effective Date	Expiration Date	Exemption Category

LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT
3501 QUADRANGLE BLVD STE 270
ORLANDO FL 32817-8329

is exempt from the payment of Florida sales and use tax on transient rental property rented, tangible personal property purchased or rented, or services purchased.

Important Information for Exempt Organizations

II

DR-14
R. 10/25

FLORIDA

You must provide all vendors and suppliers with an exemption certificate before making tax-exempt purchases.
\	See Rule 12A-1.038, Florida Administrative Code (F.A.C.).
)
Your Consumer's Certificate of Exemption is to be used solely by your organization for your organization's customary nonprofit activities.

Purchases made by an individual on behalf of the organization are taxable, even if the individual will be reimbursed by the organization.

This exemption applies only to purchases made by your organization. The sale or lease to others of tangible personal property or sleeping accommodations is taxable. Your organization must register to collect and remit sales and use tax on such taxable transactions. Note: Churches are exempt from this requirement.

It is a criminal offense to fraudulently present this certificate to evade the payment of sales tax. Under no circumstances should this certificate be used for the personal benefit of any individual. Violators will be liable for payment of the sales tax plus a penalty of 200% of the tax, and may be subject to conviction of a third-degree felony. Any violation will require the revocation of this certificate.

If you have questions about your exemption certificate, please call Taxpayer Services at 850-488-6800. The mailing address is PO Box 6480, Tallahassee, FL 32314-6480. For a written reply to tax questions, email Taxpayer Services at fdortaxpayerservices@floridarevenue.com.

Laurel Road Community Development District

Voltaire Proposal for E-Bike Maintenance

SERVICE CONTRACT QUOTE
Voltaire Cycles Sarasota LLC

Date:	May 8, 2026	
Prepared For:	Sydney Pollock	
Prepared By:	Ron O'Shea	

ONGOING E-BIKE SERVICE AGREEMENT

SERVICE DETAILS
$120 per bike for a complete tune-up service
Tune-ups are recommended twice yearly based on annual bike usage
Current fleet total: 4 bikes
Per Service Cycle Total: $480
Estimated Annual Service Total: $960

PICKUP & DELIVERY SERVICE ($25 Delivery/Pick up charge)
Bikes can be conveniently picked up by Voltaire driver(s) and transported to our service department
Standard turnaround time is approximately 2 business days for completion and return delivery
If a driver is available, bikes may also be picked up for flat repairs, brake adjustments, and minor/basic service repairs

SERVICE NOTES
Standard tune-up service may include:

Brake inspection & adjustment
Tire inspection & inflation
Drivetrain adjustment & lubrication
Bolt/safety inspection
Electrical systems check
General safety review

Additional parts and major repairs, if needed, would be quoted separately prior to completion.

Thank you again for the opportunity to support your fleet service needs. We appreciate your business and look forward to working with you.

Best regards,

Ron O'Shea - Co-Owner
Voltaire Cycles Sarasota LLC

LOCATIONS
Venice: 4199 S. Tamiami Trail, Venice FL 34293 Osprey: 15 S. Tamiami Trail, Osprey FL 34229 North Port: 4381 Aidan Lane, North Port FL 34288

Phone: 941-922-0384

Laurel Road Community Development District

Payment Authorization Nos. 143 – 147

LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT	
Payment Authorizations Nos. 143 - 147	

PA #	Description	Amount	Total	
				
140	Advanced Aquatic Services	$	1,888.00		
				
	Alsco Uniforms	$	75.83		
				
	Comcast Business	$	194.95		
				
	FPL	$	3,495.37		
				
	GreatAmerica Financial Services	$	369.16		
				
	Impact Landscaping & Irrigation	$	815.00		
				
	Jan-Pro Manasota	$	1,325.67		
				
	Peloton Interactive	$	528.00		
				
	Safetouch	$	2,034.55		
		$	1,538.46		
				
	S & G Pools	$	1,552.00		
				
	WTS International	$	2,162.00		
				
	Xfinity	$	112.80		
				
			$16,091.79	

144	Clean Sweep Parking Lot Maintenance	$	1,187.50		
				
	Doody Free 941	$	234.00		
				
	Impact Landscaping & Irrigation	$	15,334.67		
		$	1,986.00		

		$	3,535.41		
				
	J.B Edwards	$	91.00		
				
	NaturZone	$	210.00		
		$	625.00		
				
	Neal Land & Neighborhoods	$	3,375.00		
				
	TieTechnology	$	73.38		
				
	USA Today	$	158.75		
				
	Valley	$	2,004.69		
				
	Verizon Business	$	74.88		
				
	WTS International	$	346.50		
		$	2,395.22		
				
			$31,632.00	

145	Alsco Uniforms	$	75.83		
				
	AM Engineering	$	2,193.00		
				
	Comcast	$	2,944.06		
				
	Dale Weidemiller	$	4,485.00		
				
	Daystar Exterior Cleaning	$	1,530.00		
				
	PFM Management Services	$	4,625.00		
		$	1.48		
				
			$15,854.37	

146	City of Venice	$	2,083.88		
		$	7.28		
		$	19.42		
		$	232.80		
		$	13.49		
		$	151.26		
		$	677.48		
		$	214.56		
		$	3.80		
		$	3,250.33		
		$	1,196.49		
		$	400.94		
				
	Comcast	$	194.95		
				
	Florida Department of Health in Sarasota County	$	400.00		
				
	FPL	$	34.75		
		$	2,726.39		
		$	45.95		
		$	45.95		
				
	Navitas Credit Corp	$	2,465.17		
				
	Supervisor Fees - Dale Weidemiller	$	200.00		
	Supervisor Fees - John Blakely	$	200.00		
	Supervisor Fees - Pete Williams	$	200.00		
	Supervisor Fees - Janice Snow	$	200.00		
	Supervisor Fees - John Leinaweaver	$	200.00		
				
	Tyree Brown	$	500.00		
				
	VGlobalTech	$	160.00		
				
	WTS International	$	2,402.10		
		$	52.57		
				
			$18,279.56	

				
147	Comcast Business	$	194.95		
				
	Gig Set Go	$	500.00		
				
	GreatAmerica Financial Services	$	369.16		
				
	Southern Land Services of SW Florida	$	1,400.00		
				
	TECO	$	63.77		
				
	WTS International	$	2,402.10		
				
	Xfinity	$	100.00		
				
			$	5,029.98	

		Total	$70,795.91	

				

Laurel Road Community Development District

Funding Request Nos. 210 – 212

LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT	
Funding Requests Nos. 210 - 212	

FR #	Description	Amount	Total	
210	Kimley-Horn and Associates	$	1,532.39		
				
			$1,532.39	
				
211	AM Engineering	$	2,467.00		
				
	Safetouch	$	3,999.88		
				
			$6,466.88	
				
212	C&M Road Builders	$	107,562.60		

	LRK	$	1,453.75		
			$109,016.35	

				

				

				
		Total	$117,015.62	

Laurel Road Community Development District

District Financial Statements

Laurel Road
Community Development District
April 2026 Financial Package

April 30, 2026

PFM Management Services LLC
3501 Quadrangle Boulevard
Suite 270
Orlando, FL 32817-8329
(407) 723-5900

	Assets		
Current Assets					
General Checking Account	$	199,040.76							$	199,040.76	
Accounts Receivable	1,114.41							1,114.41	
On-Roll Assessments Receivable	4,538.91							4,538.91	
Off-Roll Assessments Receivable	64,398.20							64,398.20	
Prepaid Expenses	12,082.73							12,082.73	
Deposits	4,350.00							4,350.00	
On-Roll Assessments Receivable			$	5,678.91					5,678.91	
Due From Other Funds			5,069.41					5,069.41	
Series 2021A1 Debt Service Reserve			326,871.88					326,871.88	
Series 2021A2 Debt Service Reserve			62,500.00					62,500.00	
Series 2021A Revenue			793,860.82					793,860.82	
Series 2021A2 Interest			2,734.53					2,734.53	
Series 2021A1 Prepayment			165.08					165.08	
Series 2021A2 Prepayment			353,799.90					353,799.90	
Construction Checking Account					$	21,589.62			21,589.62	
Accounts Receivable - Due from Developer					106,186.97			106,186.97	
Prepaid Expenses					336.22			336.22	
Deposits					50.00			50.00	
Total Current Assets	$	285,525.01		$ 1,550,680.53		$	128,162.81		$	-	$	1,964,368.35	

Investments

Amount Available in Debt Service Funds	$	1,539,932.21		$	1,539,932.21	
Amount To Be Provided	13,335,067.79		13,335,067.79	
Total Investments	$	-	$	-	$	-	$ 14,875,000.00		$ 14,875,000.00	

			 

Total Assets

$	285,525.01

$ 1,550,680.53

$	128,162.81

$ 14,875,000.00

$ 16,839,368.35

			 

Liabilities and Net Assets

Current Liabilities

Accounts Payable	$	11,243.32							$	11,243.32	
Deferred Revenue	1,614.41							1,614.41	
Deferred Revenue - On-Roll	4,538.91							4,538.91	
Deferred Revenue - Off-Roll	64,398.20							64,398.20	
Deferred Revenue			$	5,678.91					5,678.91	
Accounts Payable					$	106,186.97			106,186.97	
Retainage Payable					91,992.19			91,992.19	
Deferred Revenue					106,186.97			106,186.97	
Total Current Liabilities	$	81,794.84		$	5,678.91		$	304,366.13		$	-	$	391,839.88	

Long Term Liabilities

Revenue Bonds Payable - Long-Term	$ 14,875,000.00		$ 14,875,000.00	
Total Long Term Liabilities	$	-	$	-	$	-	$ 14,875,000.00		$ 14,875,000.00	

Total Liabilities	$	81,794.84		$	5,678.91		$	304,366.13		$ 14,875,000.00		$ 15,266,839.88	

Net Assets
Net Assets, Unrestricted	

$	(16,545.33)								

$	(16,545.33)	
Current Year Net Assets, Unrestricted	(8,317.44)								(8,317.44)	
Net Assets - General Government	126,143.91								126,143.91	
Current Year Net Assets - General Government	102,449.03								102,449.03	
Net Assets, Unrestricted			$ 1,142,003.21						1,142,003.21	
Current Year Net Assets, Unrestricted			402,998.41						402,998.41	
Net Assets, Unrestricted					$	(99,574.77)				(99,574.77)	
Current Year Net Assets, Unrestricted					(76,628.55)				(76,628.55)	
Total Net Assets	$	203,730.17		$ 1,545,001.62		$	(176,203.32)		$	-		$	1,572,528.47	
										
Total Liabilities and Net Assets	$	285,525.01		$ 1,550,680.53		$	128,162.81		$ 14,875,000.00		$ 16,839,368.35	

General Fund	Debt Service Fund

Capital Projects Fund

Long-Term Debt

Total

Revenues

On-Roll Assessments	$ 517,129.64						$	517,129.64	
Off-Roll Assessments	193,194.62						193,194.62	
Other Income & Other Financing Sources	1,851.83						1,851.83	
On-Roll Assessments			$	647,010.96				647,010.96	
Other Assessments			$	615,124.18				615,124.18	
Inter-Fund Group Transfers In			$	1,151.31				1,151.31	
Developer Contributions					$	126,002.83		126,002.83	
Other Income & Other Financing Sources					$	29,036.00		29,036.00	
Inter-Fund Transfers In					$	(1,151.31)		(1,151.31)	
Total Revenues	$ 712,176.09		$ 1,263,286.45		$	153,887.52		$	-	$ 2,129,350.06	

Expenses

Supervisor Fees	$	6,000.00	$	6,000.00	
Public Officials' Liability Insurance	2,870.00	2,870.00	
Trustee Services	4,246.25	4,246.25	
Management	32,375.00	32,375.00	
Field Management	13,500.00	13,500.00	
Engineering	2,771.00	2,771.00	
Disclosure	500.00	500.00	
District Counsel	4,580.00	4,580.00	
Assessment Administration	5,500.00	5,500.00	
Audit	5,700.00	5,700.00	
Tax Preparation	71.40	71.40	
Travel and Per Diem	110.07	110.07	
Postage & Shipping	41.03	41.03	
Legal Advertising	829.50	829.50	
Miscellaneous	233.17	233.17	
Office Supplies	267.74	267.74	
Property Taxes	783.54	783.54	
Web Site Maintenance	1,720.00	1,720.00	
Holiday Decorations	23,887.30	23,887.30	
Dues, Licenses, and Fees	175.00	175.00	

General Fund	Debt Service Fund

Capital Projects Fund

Long-Term Debt

Total

Construction Consultation	19,987.50	19,987.50	
Lifestyle Staff	$	52,356.12	$	52,356.12	
Resident Services	8,039.94	8,039.94	
Electric	831.87	831.87	
Amenity - Electric	17,382.55	17,382.55	
Amenity - Water	20,654.95	20,654.95	
Water Reclaimed	2,300.73	2,300.73	
Stormwater Management	24,029.86	24,029.86	
Wetlands Mitigation	6,400.00	6,400.00	
Amenity - Telephone	963.02	963.02	
Amenity - Cable TV / Internet / Wi-Fi	9,576.73	9,576.73	
Amenity - Landscape Maintenance	23,067.87	23,067.87	
Amenity - Irrigation Repairs	1,680.00	1,680.00	
Amenity - Pool Maintenance	11,043.98	11,043.98	
Amenity - Access Control	7,692.30	7,692.30	
Amenity - Janitorial	20,305.68	20,305.68	
Amenity - Pest Control	2,228.55	2,228.55	
Amenity - Fitness Equipment Leasing	17,756.19	17,756.19	
Amenity - Security	6,722.62	6,722.62	
Amenity - Office Equipment Leasing	2,663.69	2,663.69	
Amenity - Capital Outlay	2,031.34	2,031.34	
Amenity - Miscellaneous	1,508.87	1,508.87	
Amenity - AC Maintenance and Equipment	5,195.00	5,195.00	
Amenity - Pool Equipment	19.07	19.07	
Amenity - Gas	395.10	395.10	
Amenity - Operations	3,511.95	3,511.95	
Amenity - Fireplaces and Barbecue	39.14	39.14	
Gate Internet Service	13,019.02	13,019.02	
General Insurance	3,508.00	3,508.00	
Property & Casualty Insurance	36,328.00	36,328.00	
Other Insurance	500.00	500.00	
Irrigation	20,095.15	20,095.15	
Lake Maintenance	15,616.00	15,616.00	
Landscaping Maintenance & Material	87,952.69	87,952.69	
Landscape Improvements	9,715.44	9,715.44	

Debt Service	Capital Projects	Long-Term		
Fund	Fund	Debt		

General Fund	Total

Fertilizer / Pesticides	10,080.00								10,080.00	
Contingency	$	2,097.59								$	2,097.59	
Lake Bank Mowing	13,902.00								13,902.00	
Gate - Repairs & Maintenance	324.16								324.16	
Dog Waste Stations	1,638.00								1,638.00	
Capital Expenditures	8,317.44								8,317.44	
Street Sweeping	5,700.00								5,700.00	
Streetlights	19,826.14								19,826.14	
Bike Share Maintenance	253.37								253.37	
Golf Cart Maintenance	182.72								182.72	
Series 2021 A2 Principal Payments			$	610,000.00						610,000.00	
Series 2021 A1 Interest Payments			198,721.25						198,721.25	
Series 2021 A2 Interest Payments			70,664.07						70,664.07	
Engineering					$	24,478.08				24,478.08	
Landscaping Maintenance & Material					133,947.25				133,947.25	
Contingency					72,623.32				72,623.32	
Total Expenses	$623,601.34		$879,385.32		$231,048.65		$0.00		$1,734,035.31	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$	5,556.84						$	5,556.84	
Dividend Income			$	19,097.28				19,097.28	
Interest Income					$	27.67		27.67	
Dividend Income					504.91		504.91	
Total Other Revenues (Expenses) & Gains (Losses)	$	5,556.84		$	19,097.28		$	532.58		$	-	$	25,186.70	
Change In Net Assets	$	94,131.59		$	402,998.41		$	(76,628.55)		$	-	$	420,501.45	
Net Assets At Beginning Of Year	$ 109,598.58		$ 1,142,003.21		$	(99,574.77)		$	-	$ 1,152,027.02	

Net Assets At End Of Year	
$ 203,730.17		
$ 1,545,001.62		
$  (176,203.32)			

$	-	$ 1,572,528.47	

YTD Actual	YTD Budget	YTD Variance	FY 2026
Adopted Budget

Percentage

Revenues

On-Roll Assessments	$	517,129.64		$  304,306.65		$  212,822.99		$  521,668.55		99.13%	
Off-Roll Assessments	193,194.62		150,262.48		42,932.14		257,592.82		75.00%	
Other Income & Other Financing Sources	1,851.83		-		1,851.83		-			
Carryforward Cash	50,895.83		50,895.83		-		87,250.00		58.33%	
Net Revenues	$	763,071.92		$  505,464.96		$  257,606.96		$  866,511.37		88.06%	

General & Administrative Expenses

Supervisor Fees	$	6,000.00	$	7,000.00	$	(1,000.00)	$	12,000.00	50.00%	
Public Officials' Liability Insurance	2,870.00	1,816.62	1,053.38	3,114.20	92.16%	
Trustee Services	4,246.25	2,475.85	1,770.40	4,244.31	100.05%	
Management	32,375.00	32,375.00	-	55,500.00	58.33%	
Field Management	13,500.00	8,750.00	4,750.00	15,000.00	90.00%	
Engineering	2,771.00	3,500.00	(729.00)	6,000.00	46.18%	
Disclosure	500.00	583.33	(83.33)	1,000.00	50.00%	
District Counsel	4,580.00	11,666.67	(7,086.67)	20,000.00	22.90%	
Assessment Administration	5,500.00	3,208.33	2,291.67	5,500.00	100.00%	
Reamortization Schedules	-	72.92	(72.92)	125.00	0.00%	
Audit	5,700.00	3,325.00	2,375.00	5,700.00	100.00%	
Arbitrage Calculation	-	291.67	(291.67)	500.00	0.00%	
Tax Preparation	71.40	36.89	34.51	63.24	112.90%	
Travel and Per Diem	110.07	291.67	(181.60)	500.00	22.01%	
Telephone	-	408.33	(408.33)	700.00	0.00%	
Postage & Shipping	41.03	291.67	(250.64)	500.00	8.21%	
Legal Advertising	829.50	3,208.33	(2,378.83)	5,500.00	15.08%	
Miscellaneous	233.17	583.31	(350.14)	1,000.00	23.32%	
Office Supplies	267.74	291.67	(23.93)	500.00	53.55%	
Property Taxes	783.54	-	783.54	-		
Web Site Maintenance	1,720.00		1,820.00		(100.00)		3,120.00		55.13%	
Holiday Decorations	23,887.30		14,583.33		9,303.97		25,000.00		95.55%	
IT Services	-		291.67		(291.67)		500.00		0.00%	
Dues, Licenses, and Fees	175.00		102.08		72.92		175.00		100.00%	
Construction Consultation	19,987.50		-		19,987.50		-			
Lifestyle & Maintenance Staff	52,356.12		31,671.97		20,684.15		54,294.80		96.43%	
Resident Services	8,039.94		4,374.07		3,665.87		7,498.40		107.22%	
Total General & Administrative Expenses	$	186,544.56		$  133,020.38		$	53,524.18		$  228,034.95		81.81%	

YTD Actual	YTD Budget	YTD Variance	FY 2026
Adopted Budget

Percentage

Field Expenses (Inside the Gate; SF)

Electric	$	623.90		$	4,375.00		$	(3,751.10)		$	7,500.00		8.32%	
Water Reclaimed	1,725.55		2,187.50		(461.95)		3,750.00		46.01%	
Stormwater Management	24,029.86		1,166.67		22,863.19		2,000.00		1201.49%	
Wetland Mitigation	6,400.00		5,250.00		1,150.00		9,000.00		71.11%	
Equipment Rental	-		656.25		(656.25)		1,125.00		0.00%	
Gate Internet Service	13,019.02		1,166.67		11,852.35		2,000.00		650.95%	
General Insurance	2,631.00		1,664.83		966.17		2,854.00		92.19%	
Property & Casualty Insurance	27,246.00		8,864.19		18,381.81		15,195.75		179.30%	
Other Insurance	375.00		-		375.00		-			
Irrigation - Repair and Maintenance	15,071.36		10,920.00		4,151.36		18,720.00		80.51%	
Lake Maintenance	11,712.00		10,500.00		1,212.00		18,000.00		65.07%	
Landscaping Maintenance & Material	65,964.52		62,027.02		3,937.50		106,332.03		62.04%	
Landscape Improvements	7,286.58		8,750.00		(1,463.42)		15,000.00		48.58%	
Fertilizer / Pesticides	7,560.00		7,560.00		-		12,960.00		58.33%	
Contingency	2,097.59		10,150.00		(8,052.41)		17,400.00		12.06%	
Lake Bank Mowing	13,902.00		-		13,902.00		-			
Gate - Repairs & Maintenance	324.16		2,041.67		(1,717.51)		3,500.00		9.26%	
Mulch	-		2,916.67		(2,916.67)		5,000.00		0.00%	
Storm Cleanup	-		4,375.00		(4,375.00)		7,500.00		0.00%	
Storm Landscape Replacement	-		6,562.50		(6,562.50)		11,250.00		0.00%	
Security Monitoring	-		17,500.00		(17,500.00)		30,000.00		0.00%	
Dog Waste Stations	1,638.00		1,638.00		-		2,808.00		58.33%	
Mailbox Maintenance	-		116.67		(116.67)		200.00		0.00%	
Capital Expenditures	6,238.08		4,375.00		1,863.08		7,500.00		83.17%	
Street Sweeping	5,700.00		7,000.00		(1,300.00)		12,000.00		47.50%	
Lighting	-		437.50		(437.50)		750.00		0.00%	
Streetlights - Leasing	14,869.61		17,640.00		(2,770.40)		30,240.00		49.17%	
Bike Share Maintenance	253.37		1,458.33		(1,204.96)		2,500.00		10.13%	
Golf Cart Maintenance	137.04		656.25		(519.21)		1,125.00		12.18%	
Total Field Expenses (Inside the Gate; Only SF)	$	228,804.64		$  201,955.72		$	26,848.92		$  346,209.78		66.09%	

Field Expenses (Outside the Gate; MF)

Electric	$	207.97		$	1,458.33		$	(1,250.36)		$	2,500.00		8.32%	
Water Reclaimed	575.18		729.17		(153.99)		1,250.00		46.01%	
Equipment Rental	-		218.75		(218.75)		375.00		0.00%	
General Insurance	877.00		554.95		322.05		951.34		92.19%	
Property & Casualty Insurance	9,082.00		2,954.73		6,127.27		5,065.25		179.30%	
Other Insurance	125.00		-		125.00		-			
Irrigation - Repair and Maintenance	5,023.79		3,640.00		1,383.79		6,240.00		80.51%	
Lake Maintenance	3,904.00		3,500.00		404.00		6,000.00		65.07%	
Landscaping Maintenance & Material	21,988.17		20,675.67		1,312.50		35,444.01		62.04%	
Landscape Improvements	2,428.86		2,916.67		(487.81)		5,000.00		48.58%	
Fertilizer / Pesticides	2,520.00		2,520.00		-		4,320.00		58.33%	
Storm Cleanup	-		1,458.33		(1,458.33)		2,500.00		0.00%	
Storm Landscape Replacement	-		2,187.50		(2,187.50)		3,750.00		0.00%	
Capital Expenditures	2,079.36		1,458.33		621.03		2,500.00		83.17%	
Lighting	-		145.83		(145.83)		250.00		0.00%	
Streetlights - Leasing	4,956.54		5,880.00		(923.47)		10,080.00		49.17%	
Golf Cart Maintenance	45.68		218.75		(173.07)		375.00		12.18%	
Total Field Expenses (Outside the Gate; MF)	$	53,813.55		$	50,517.01		$	3,296.54		$	86,600.59		62.14%	

	YTD Actual	YTD Budget	YTD Variance	FY 2026
Adopted Budget	Percentage	

Vistera - Amenity Expenses						
Amenity - Electric	$	17,382.55	$	5,833.33	$	11,549.22	$	10,000.00	173.83%	
Amenity - Water	20,654.95	8,750.00	11,904.95	15,000.00	137.70%	
Amenity - Telephone	963.02	5,110.00	(4,146.98)	8,760.00	10.99%	
Amenity - Cable TV / Internet / Wi-Fi	9,576.73	7,583.33	1,993.40	13,000.00	73.67%	
Amenity - Landscape Maintenance	23,067.87	11,666.67	11,401.20	20,000.00	115.34%	
Amenity - Irrigation Repairs	1,680.00	5,833.33	(4,153.33)	10,000.00	16.80%	
Amenity - Pool Maintenance	11,043.98	10,864.00	179.98	18,624.00	59.30%	
Amenity - Access Control Maintenance	7,692.30	875.00	6,817.30	1,500.00	512.82%	
Amenity - Pool Equipment	19.07	583.33	(564.26)	1,000.00	1.91%	
Amenity - Cleaning	20,305.68	22,516.67	(2,210.99)	38,600.00	52.61%	
Amenity - Pest Control	2,228.55	3,500.00	(1,271.45)	6,000.00	37.14%	
Amenity - Fitness Equipment Leasing	17,756.19	17,606.19	150.00	30,182.04	58.83%	
Amenity - Security Monitoring	6,722.62	3,558.33	3,164.29	6,100.00	110.21%	
Amenity - Office Equipment Leasing	2,663.69	2,916.67	(252.98)	5,000.00	53.27%	
Amenity - Capital Outlay	2,031.34	4,375.00	(2,343.66)	7,500.00	27.08%	
Amenity - Miscellaneous	1,508.87	1,458.33	50.54	2,500.00	60.35%	
Amenity - A/C Maintenance and Equipment	5,195.00	875.00	4,320.00	1,500.00	346.33%	
Amenity - Gas	395.10	816.67	(421.57)	1,400.00	28.22%	
Amenity - Operations	3,511.95	4,666.67	(1,154.72)	8,000.00	43.90%	
Amenity - Fireplaces and Barbecue	39.14	583.33	(544.19)	1,000.00	3.91%	
Total Vistera - Amenity Expenses	$	154,438.60		$	119,971.85		$	34,466.75		$	205,666.04		75.09%	

Total Expenses	
 $	623,601.34 	
 $  505,464.96 	
 $  118,136.38 	
 $  866,511.36 	
	71.97%	
Other Revenues (Expenses) & Gains (Losses)						
Interest Income	$	5,556.84	$	-	$	5,556.84	$	-	
Total Other Revenues (Expenses) & Gains (Losses)	$	5,556.84		$	-		$	5,556.84		$	-		
Net Income (Loss)	$	145,027.42		$	-		$	145,027.42		$	-		

Laurel Road
Community Development District
FY 2027 Proposed Budget Package

PFM Management Services LLC
3501 Quadrangle Boulevard
Suite 270
Orlando, FL 32817-8329
(407) 723-5900

Actual Through 4/30/2026

Anticipated 5/2026 - 9/2026

FY 2026
Anticipated Total

FY 2026
Adopted Budget

FY 2027
Proposed Budget

Revenues		
On-Roll Assessments	$	517,129.64		$	4,538.91		$	521,668.55		$	521,668.55		$	791,276.75		
Off-Roll Assessments	193,194.62		64,398.20		257,592.82		257,592.82		397,347.66		
Other Income & Other Financing Sources	1,851.83		1,322.75		3,174.58		-		500.00		
Carryforward Cash	50,895.83		36,354.17		87,250.00		87,250.00		-		
Net Revenues	$	763,071.92		$  106,614.03		$	869,685.95		$	866,511.37		$ 1,189,124.41		

General & Administrative Expenses											
Supervisor Fees	$	6,000.00		$	5,000.00		$	11,000.00		$	12,000.00		$	12,000.00		
Public Officials' Liability Insurance	2,870.00		-		2,870.00		3,114.20		3,300.50		
Trustee Services	4,246.25		-		4,246.25		4,244.31		4,244.31		
Management	32,375.00		23,125.00		55,500.00		55,500.00		55,500.00		
Field Management	13,500.00		16,875.00		30,375.00		15,000.00		40,500.00		
Engineering	2,771.00		1,979.30		4,750.30		6,000.00		6,000.00		
Disclosure	500.00		500.00		1,000.00		1,000.00		2,000.00		
District Counsel	4,580.00		3,271.45		7,851.45		20,000.00		25,000.00		
Assessment Administration	5,500.00		-		5,500.00		5,500.00		11,000.00		
Reamortization Schedules	-		125.00		125.00		125.00		125.00		
Audit	5,700.00		-		5,700.00		5,700.00		7,000.00		
Arbitrage	-		500.00		500.00		500.00		500.00		
Tax Preparation	71.40		-		71.40		63.24		80.00		
Travel and Per Diem	110.07		78.60		188.67		500.00		500.00		
Telephone	-		-		-		700.00		700.00		
Postage & Shipping	41.03		29.30		70.33		500.00		500.00		
Legal Advertising	829.50		592.50		1,422.00		5,500.00		2,000.00		
Miscellaneous	233.17		166.55		399.72		1,000.00		500.00		
Office Supplies	267.74		191.25		458.99		500.00		375.00		
Property Taxes	783.54		-		783.54		-		100.00		
Web Site Maintenance	1,720.00		1,400.00		3,120.00		3,120.00		3,120.00		
Holiday Decorations	23,887.30		-		23,887.30		25,000.00		25,000.00		
IT Services	-		208.35		208.35		500.00		250.00		
Dues, Licenses, and Fees	175.00		-		175.00		175.00		175.00		
Lifestyle & Maintenance Staff	19,987.50		14,276.80		34,264.30		54,294.80		98,570.00	*	
Resident Services	52,356.12		37,397.25		89,753.37		7,498.40		8,632.00	*	
Total General & Administrative Expenses	$	186,544.56		$  105,716.35		$	284,220.97		$	228,034.95		$	307,671.81		

	Actual Through 4/30/2026	Anticipated 5/2026 - 9/2026	FY 2026
Anticipated Total	FY 2026
Adopted Budget		FY 2027
Proposed Budget	
Field Expenses (Inside the Gate; SF)											
Electric	$	623.90	$	445.65	$	1,069.55	$	7,500.00	$	1,875.00	
Water Reclaimed		1,725.55		1,232.55		2,958.10		3,750.00		3,750.00	
Stormwater Management		24,029.86		17,164.20		41,194.06		2,000.00		37,500.00	
Wetland Mitigation		6,400.00		4,571.45		10,971.45		9,000.00		11,000.00	
Equipment Rental		-		468.75		468.75		1,125.00		600.00	
Gate Internet Service		13,019.02		9,299.30		22,318.32		2,000.00		25,000.00	
General Insurance		2,631.00		-		2,631.00		2,854.00		3,025.65	
Property & Casualty Insurance		27,246.00		-		27,246.00		15,195.75		31,332.90	
Other Insurance		375.00		-		375.00		-		431.25	
Irrigation - Repair and Maintenance		15,071.36		10,765.25		25,836.61		18,720.00		27,000.00	
Lake Maintenance		11,712.00		8,365.70		20,077.70		18,000.00		19,800.00	
Landscaping Maintenance & Material		65,964.52		47,117.50		113,082.02		106,332.03		106,332.03	
Landscape Improvements		7,286.58		5,204.70		12,491.28		15,000.00		22,500.00	
Fertilizer / Pesticides		7,560.00		5,400.00		12,960.00		12,960.00		12,960.00	
Contingency		2,097.59		1,498.30		3,595.89		17,400.00		12,500.00	
Lake Bank Mowing		13,902.00		9,930.00		23,832.00		-		25,000.00	
Gate - Repairs & Maintenance		324.16		231.55		555.71		3,500.00		3,500.00	
Mulch		-		2,083.35		2,083.35		5,000.00		40,000.00	
Storm Cleanup		-		7,500.00		7,500.00		7,500.00		7,500.00	
Storm Landscape Replacement		-		11,250.00		11,250.00		11,250.00		11,250.00	
Security Monitoring		-		12,500.00		12,500.00		30,000.00		15,000.00	
Dog Waste Stations		1,638.00		1,170.00		2,808.00		2,808.00		2,808.00	
Mailbox Maintenance		-		83.35		83.35		200.00		-	
Capital Expenditures		6,238.08		4,455.75		10,693.83		7,500.00		7,500.00	
Street Sweeping		5,700.00		4,071.45		9,771.45		12,000.00		12,000.00	
Lighting		-		-		-		750.00		-	
Streetlights - Leasing		14,869.61		10,621.15		25,490.76		30,240.00		30,240.00	
Bike Share Maintenance		253.37		181.00		434.37		-		-	
Golf Cart Maintenance		137.04		97.90		234.94		1,125.00		1,125.00	
Laurel Rd. Monument Maintenance		-		-		-		-		3,000.00	
Border Rd. Monument Maintenance		-		-		-		-		2,000.00	
Total Field Expenses (Inside the Gate;	$	228,804.64		$	175,708.85		$	404,513.49		$	343,709.78		$	476,529.83	
Only SF)											

	Actual Through 4/30/2026	Anticipated 5/2026 - 9/2026	FY 2026
Anticipated Total	FY 2026
Adopted Budget		FY 2027
Proposed Budget	
Field Expenses (Outside the Gate; MF)											
Electric	$	207.97	$	148.55	$	356.52	$	2,500.00	$	625.00	
Water Reclaimed		575.18		410.85		986.03		1,250.00		1,250.00	
Equipment Rental		-		156.25		156.25		375.00		200.00	
General Insurance		877.00		-		877.00		951.34		1,008.55	
Property & Casualty Insurance		9,082.00		-		9,082.00		5,065.25		10,444.30	
Other Insurance		125.00		-		125.00		-		143.75	
Irrigation - Repair and Maintenance		5,023.79		3,588.40		8,612.19		6,240.00		9,000.00	
Lake Maintenance		3,904.00		2,788.55		6,692.55		6,000.00		6,600.00	
Landscaping Maintenance & Material		21,988.17		15,705.85		37,694.02		35,444.01		35,444.01	
Landscape Improvements		2,428.86		1,734.90		4,163.76		5,000.00		7,500.00	
Fertilizer / Pesticides		2,520.00		1,800.00		4,320.00		4,320.00		4,320.00	
Storm Cleanup		-		2,500.00		2,500.00		2,500.00		2,500.00	
Storm Landscape Replacement		-		3,750.00		3,750.00		3,750.00		3,750.00	
Capital Expenditures		2,079.36		1,485.25		3,564.61		2,500.00		2,500.00	
Lighting		-		-		-		250.00		-	
Streetlights - Leasing		4,956.54		3,540.40		8,496.94		10,080.00		10,080.00	
Golf Cart Maintenance		45.68		32.65		78.33		375.00		375.00	
Laurel Rd. Monument Maintenance		-		-		-		-		1,000.00	
Total Field Expenses (Outside the Gate;	$	53,813.55		$	37,641.65		$	91,455.20		$	86,600.59		$	96,740.61	
SF & MF)											

	Actual Through 4/30/2026	Anticipated 5/2026 - 9/2026	FY 2026
Anticipated Total	FY 2026
Adopted Budget	FY 2027
Proposed Budget	
Vistera - Amenity						
Amenity - Electric	$	17,382.55	$	12,416.10	$	29,798.65	$	10,000.00	$	25,000.00	
Amenity - Water	20,654.95	14,753.55	35,408.50	15,000.00	30,000.00	
Amenity - Telephone	963.02	687.85	1,650.87	8,760.00	2,000.00	
Amenity - Cable TV / Internet / Wi-Fi	9,576.73	6,840.50	16,417.23	13,000.00	18,000.00	
Amenity - Landscape Maintenance	23,067.87	16,477.05	39,544.92	20,000.00	37,000.00	
Amenity - Irrigation Repairs	1,680.00	1,200.00	2,880.00	10,000.00	7,500.00	
Amenity - Pool Maintenance	11,043.98	7,888.55	18,932.53	18,624.00	18,624.00	
Amenity - Access Control Maintenance	7,692.30	5,494.50	13,186.80	1,500.00	15,000.00	
Amenity - Cleaning	20,305.68	14,504.05	34,809.73	38,600.00	38,600.00	
Amenity - Pest Control	2,228.55	1,591.80	3,820.35	6,000.00	6,000.00	
Amenity - Fitness Equipment Leasing	17,756.19	12,683.00	30,439.19	30,182.04	30,182.04	
Amenity - Fire/Security Monitoring	6,722.62	4,801.85	11,524.47	6,100.00	42,876.12	
Amenity - Office Equipment Leasing	2,663.69	1,902.65	4,566.34	5,000.00	5,000.00	
Amenity - Capital Outlay	2,031.34	1,450.95	3,482.29	7,500.00	7,500.00	
Amenity - Miscellaneous	1,508.87	1,077.75	2,586.62	2,500.00	2,500.00	
Amenity - A/C Maintenance and Equipment	5,195.00	3,710.70	8,905.70	1,500.00	7,500.00	
Amenity - Pool Equipment	19.07	13.60	32.67	1,000.00	1,000.00	
Amenity - Gas	395.10	282.20	677.30	1,400.00	1,400.00	
Amenity - Operations	3,511.95	2,508.55	6,020.50	8,000.00	6,500.00	
Amenity - Fireplaces and Barbecue	39.14	27.95	67.09	1,000.00	3,000.00	
Bike Share Maintenance	-	1,041.65	-	2,500.00	3,000.00	
Total Vistera - Amenity Expenses	$	154,438.60		$	111,354.80		$	264,751.75		$	208,166.04		$	308,182.16	
Total Expenses	 $	623,601.34 	 $  392,780.00 	 $	953,486.21 	 $	866,511.37 	 $ 1,189,124.41 	
Other Revenues (Expenses) & Gains (Losses)						
Interest Income	$	5,556.84	$	3,969.15	$	9,525.99	$	-	$	-	
Total Other Revenues (Expenses) & Gain $	5,556.84		$	3,969.15		$	9,525.99		$	-		$	-	
Net Income (Loss)	$	145,027.42		$	(282,196.82)		$	(74,274.27)		$	-		$	-	

Laurel Road Community Development District FY 2027 Proposed Assessment Comparison

Unit Type

FY 2027 O&M* 
Assessment  (Gross)

FY 2026 O&M* 
Assessment  (Gross)

Increase /  (Decrease)

Phase 1
SF 40'	
1,511.27	
979.73	
$	531.54	
SF 45'	1,700.18	1,102.20	$	597.98	
SF 50'	1,889.09	1,224.67	$	664.42	
SF 57'	2,153.57	1,396.12	$	757.45	
Paired Villas (36' - 39')	1,416.82	918.50	$	498.32	
Assisted Living	566.73	367.40	$	199.33	
Phase 1 & 2
Multi-Family	
281.19	
196.13	
$	85.06	
Phase 2
SF 50'	
1,889.09	
1,224.67	
$	664.42	
SF 57'	2,153.57	1,396.12	$	757.45	
Assisted Living	566.73	367.40	$	199.33	

O&M = Operations and Maintenance

Revenues

On-Roll Assessments

The District can levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the Fiscal Year. Assessments collected via the tax collector are referred to as “On-Roll Assessments.”

Off-Roll Assessments
The District can levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the Fiscal Year. Assessments collected through direct billing are referred to as “Off-Roll Assessments.”

Other Income
Revenue from miscellaneous sources not otherwise classified.

General & Administrative Expenses

Supervisor Fees

Chapter 190 of the Florida Statutes allows for a member of the Board of Supervisors to be compensated for meeting attendance and to receive up to $200.00 per meeting plus payroll taxes. The amount for the Fiscal Year is based upon all supervisors attending the meetings.

Public Officials’ Liability Insurance

Supervisors’ and Officers’ liability insurance.
Trustee Services

The Trustee submits invoices annually for services rendered on bond series. These fees are for maintaining the district trust accounts.

Management

The District receives Management and Administrative services as part of a Management Agreement with PFM Group Consulting, LLC. These services are further outlined in Exhibit “A” of the Management Agreement.

Field Management

The District receives Field Management services as part of a Management Agreement with PFM Group Consulting, LLC. These services are further outlined in Exhibit “A” Section “V” of the Management Agreement.

Engineering

The District’s engineer provides general engineering services to the District. Among these services are attendance at and preparation for monthly board meetings, review of invoices, and all other engineering services as requested by the district throughout the year.

Disclosure

When bonds are issued for the District, the Bond Indenture requires continuing disclosure, which the District Management team provides to the trustee and bond holders.

District Counsel

The District’s legal counsel provides general legal services to the District. Among these services are attendance at and preparation for monthly board meetings, review of operating and maintenance contracts, and all other legal services as requested by the District throughout the year.

Assessment Administration

The District can levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the Fiscal Year. It is typically collected via the Tax Collector. The District Manager submits an Assessment Roll to the Tax Collector annually by the deadline set by the Tax Collector or Property Appraiser.

Reamortization Schedules

When debt is paid on a bond series, a new amortization schedule must be recalculated. This can occur up to four times per year per bond issue.

Audit

Chapter 218 of the Florida Statutes requires a District to conduct an annual financial audit by an Independent Certified Public Accounting firm. Some exceptions apply.

Arbitrage
Annual computations are necessary to calculate arbitrage rebate liability to ensure the District's compliance with all tax regulations.

Tax Preparation

Annual fee to file Forms 1099 and 1096 with the Internal Revenue Service.

Travel and Per Diem

Travel to and from meetings as related to the District.

Telephone

Telephone and fax machine services as related to the District.

Postage & Shipping

Mail, overnight deliveries, correspondence, etc.

Legal Advertising

The District will incur expenditures related to legal advertising. The items for which the District will advertise include, but are not limited to, monthly meetings, special meetings, and public hearings for the District.

Miscellaneous
Other general & administrative expenses incurred throughout the year.
Office Supplies

General office supplies associated with the District.
Property Taxes

The costs associated with assessed property tax levies to the District.

Web Site Maintenance

The cost of hiring a third party vendor to manage the District's website and for the annual domain and URL registration renewals.

Holiday Decorations

The cost of decorations within the District for the holidays.

IT Services

The cost of Information Technology services as needed within the District.

Dues, Licenses and Fees

The District is required to pay an annual fee to the Department of Economic Opportunity.

Lifestyle & Maintenance Staff

The cost of hiring a third party contractor to operate the Amenity Center and manage Resident programming.

Resident Services

The cost to provide events and supplies for those events to the residents within the District.

Field Expenses (Inside the Gate; SF)

Electric

The District pays for the electricity related to District-serviced fixtures.

Water Reclaimed

Water used for irrigation.
Stormwater Management

Management of stormwater runoff.

Wetland Mitigation
The costs associated with actions taken to offset the impacts of unavoidable wetland losses.

Equipment Rental

Covers the costs of periodic equipment rentals to assist the maintenance staff in its duties of maintaining certain common facilities.

Gate Internet Service
Covers the costs of monthly service fees associated with keeping the gate’s internet service running.

General Insurance

Insurance purchased to cover the general liability of the District.

Property & Casualty Insurance
Insurance purchased to protect property and cover casualty.

Other Insurance

Insurance purchased to protect areas not covered by General or Property & Casualty insurance coverage.
Irrigation - Repair and Maintenance

Inspection, repair, and maintenance of irrigation systems throughout the District.

Lake Maintenance
Maintenance of lakes owned by the District.

Lake Maintenance – Phase 2
Maintenance of lakes owned by the District in phase 2.

Landscaping Maintenance & Material
Contracted landscaping and Common Area Maintenance within the boundaries of the District.

Landscape Improvements
Improvements in landscape above and beyond what is already contracted for property owned by District.

Fertilizer / Pesticides
Costs associated with purchasing fertilizers and pesticides used in agriculture or other applications.

Contingency

Other field expenses incurred throughout the year.
Lake Bank Mowing

Mowing and grounds maintenance of lake banks and adjacent drainage areas.

Gate Maintenance
Costs associated with keeping District gates in good working order.

Mulch
Costs associated with purchasing and applying mulch to the District’s landscaping to improve the appearance of the property and promote plant health.

Storm Cleanup

Costs associated with recovering from a storm event.

Storm Landscape Replacement

Costs associated with replacing District landscaping when damaged by a storm.

Security Monitoring
Costs associated with ongoing observation and analysis of network and system activity to detect and respond to potential security threats within the District.

Dog Waste Stations

Costs associated with purchasing, installing, and maintaining dog waste stations, as well as the cost of bags, liners, and cleaning materials..

Mailbox Maintenance
Costs associated with keeping mailboxes in good working order and appearance.

Capital Expenditures

Costs associated with acquiring or upgrading the District’s long-term assets, such as property, plant, and equipment (PP&E).

Street Sweeping
Covers the costs of periodic sweeping of District streets to improve aesthetics and to mitigate roadway dirt and debris from being washed into the District’s stormwater system and ponds.

Streetlights – Leasing

Costs associated with streetlight poles which are leased from the utility company.
Bike Share Maintenance

Costs associated with operating and maintaining the District’s bike share program which will initially include 25 bikes.

Golf Cart Maintenance

Costs associated with routine maintenance, battery-related expenses, and unexpected repairs to the District’s golf cart.

Laurel Rd. Monument Maintenance
Costs associated with routine maintenance for the Laurel Road monument.

Border Rd. Monument Maintenance
Costs associated with routine maintenance for the Border Road monument.

Field Expenses (Outside the Gate; MF)

Electric

The District pays for the electricity related to District-serviced fixtures.

Water Reclaimed

Water used for irrigation.
Equipment Rental

Covers the costs of periodic equipment rentals to assist the maintenance staff in its duties of maintaining certain common facilities.

General Insurance

Insurance purchased to cover the general liability of the District.

Property & Casualty Insurance

Insurance purchased to protect property and cover casualty.

Other Insurance

Insurance purchased to protect areas not covered by General or Property & Casualty insurance coverage.

Irrigation - Repair and Maintenance
Inspection, repair, and maintenance of irrigation systems throughout the District.

Lake Maintenance

Maintenance of lakes owned by the District.
Landscaping Maintenance & Material

Contracted landscaping and Common Area Maintenance within the boundaries of the District.

Landscape Improvements
Improvements in landscape above and beyond what is already contracted for property owned by District.

Fertilizer / Pesticides
Costs associated with purchasing fertilizers and pesticides used in agriculture or other applications.

Storm Cleanup
Costs associated with recovering from a storm event.

Storm Landscape Replacement

Costs associated with replacing District landscaping when damaged by a storm.
Capital Expenditures

Costs associated with acquiring or upgrading the District’s long-term assets, such as property, plant, and equipment (PP&E).

Streetlights – Leasing
Costs associated with streetlight poles which are leased from the utility company.

Golf Cart Maintenance

Costs associated with routine maintenance, battery-related expenses, and unexpected repairs to the District’s golf cart.

Laurel Rd. Monument Maintenance
Costs associated with routine maintenance for the Laurel Road monument.

Vistera – Amenity

Amenity – Electric

The District pays for the electricity related to Amenity-serviced fixtures.

Amenity – Water
The District pays for the water service related to Amenity-serviced fixtures.

Amenity - Telephone

Telephone and fax machine services as related to the District’s Amenity.

Amenity – Cable TV / Internet / Wi-Fi

Cable TV, Internet, and wi-fi services as related to the District’s Amenity.

Amenity – Landscape Maintenance
Contracted landscaping and Common Area Maintenance within the boundaries of the District’s Amenity.

Amenity – Irrigation Repairs

Inspection and repair of irrigation system within the boundaries of the District’s Amenity.
Amenity – Pool Maintenance

Cost of cleaning and maintaining the Amenity swimming pool.

Amenity – Pool Equipment
Cost of repairing or replacing any Amenity swimming pool equipment.
Amenity – Cleaning

Cost of cleaning the exterior and interior of the Amenity building.

Amenity – Pest Control
Cost of pest control services for the Amenity building.

Amenity – Fitness Equipment Leasing

Cost of leasing fitness equipment for the Amenity building.

Amenity – Fire/Security Monitoring
Cost of security services for the Amenity building.

Amenity – Office Equipment Leasing

Costs associated with renting or leasing Amenity office equipment, including lease payments, maintenance, and any potential upgrade or replacement costs.

Amenity – Capital Outlay
Costs associated with acquiring or improving Amenity capital assets, such as equipment, buildings, or land
Amenity – Miscellaneous

Costs associated with miscellaneous Amenity expenses incurred throughout the year.

Amenity – A/C Maintenance and Equipment
Costs related to keeping the Amenity air conditioning system running efficiently and reliably.

Amenity – Gas

Costs related to Amenity gas usage.
Amenity – Access Control Maintenance

Cost associated with keeping the Amenity access control system operational.

Amenity – Operations
Cost associated with general Amenity operations as needed.

Amenity – Fireplaces and Barbecue

Costs associated with the Amenity fireplace or barbecue grill, installation costs, materials, and any necessary permits or gas line adjustments.

Other Revenues (Expenses) & Gaines (Losses)

Interest Income

Income from interest earnings.

Laurel Road CDD
FY 2027 Proposed Debt Service Budget

	Series 2021A-1		Series 2021A-2	
REVENUES:				
Special Assessments	$	847,243.75		$	162,890.64	
TOTAL REVENUES	 $	847,243.75 		 $	162,890.64 	

EXPENDITURES:				
Interest 11/01/2026	$	195,406.25		$	54,296.88	
Interest 05/01/2027	195,406.25		54,296.88	
Principal 05/01/2027	265,000.00		-	
TOTAL EXPENDITURES	 $	655,812.50 		 $	108,593.76 	

EXCESS REVENUES	

 $	191,431.25 		

 $	54,296.88 	

Interest 11/01/2027	

$	191,431.25		

$	54,296.88	

Appointment of Auditor Selection Committee

Consideration of Series 2026 Bonds Documents:
Resolution 2026-06, Special Assessment Resolution
Final Pricing Numbers (June 24, 2026)

RESOLUTION 2026-06

A RESOLUTION SETTING FORTH THE TERMS OF THE DISTRICT’S SPECIAL ASSESSMENT BONDS, SERIES 2026; CONFIRMING DISTRICT PROJECTS FOR CONSTRUCTION AND/OR	ACQUISITION	OF	INFRASTRUCTURE IMPROVEMENTS; CONFIRMING AND LEVYING SPECIAL ASSESSMENTS ON THE PROPERTY SPECIFICALLY BENEFITTED BY SUCH PROJECTS TO PAY THE COST OF THE IMPROVEMENTS THEREON; CONFIRMING THE ADOPTION OF THE SUPPLEMENTAL ENGINEER’S REPORT; CONFIRMING THE ADOPTION OF THE SUPPLEMENTAL ASSESSMENT METHODOLOGY REPORT; CONFIRMING, ALLOCATING AND AUTHORIZING THE COLLECTION OF SPECIAL ASSESSMENTS SECURING THE SERIES 2026 BONDS; PROVIDING FOR THE REALLOCATION OF SPECIAL ASSESSMENTS AND APPLICATION OF PREPAYMENTS; PROVIDING FOR THE SUPPLEMENTATION OF THE IMPROVEMENT LIEN BOOK; PROVIDING FOR THE RECORDING OF NOTICE OF SERIES 2026 SPECIAL ASSESSMENTS LIENS; PROVIDING FOR CONFLICTS, SEVERABILITY AND AN EFFECTIVE DATE

WHEREAS, the Laurel Road Community Development District (“District”) has previously indicated its intention to undertake, install, establish, construct, or acquire certain public improvements and to finance such public improvements through the imposition of special assessments on benefited property within the District and the issuance of bonds; and
WHEREAS, the District’s Board of Supervisors (“Board”) has previously adopted, after notice and public hearing, Resolutions 2022-04, 2022-05 and 2022-06, relating to the imposition, levy, collection, and enforcement of such special assessments; and
WHEREAS, pursuant to and consistent with the terms of Resolution 2022-06 and Chapter 170, Florida Statutes, this Resolution shall set forth the terms of bonds actually issued by the District, and apply the adopted special assessment methodology to the actual scope of the project to be completed with a series of bonds and the terms of the bond issue; and

WHEREAS, the District entered into a Bond Purchase Contract on June 4, 2026, as further evidenced by its Bond Award Delegation Resolution 2026-05, adopted on May 13, 2026, whereby it agrees to sell not exceeding $6,000,000 principal amount of its Series 2026 Special Assessment Bonds, the (“Series 2026 Bonds”); and
WHEREAS, on June 10, 2026, the District did formally approve, ratify, and adopt that certain Laurel Road Community Development District Supplemental Report of District Engineer dated June 2, 2026, (the “Supplemental Engineer’s Report”), the same of which is attached hereto as Exhibit “A,” and incorporated herein; and
WHEREAS, on June 10, 2026, the District did formally approve, ratify, and adopt that certain Supplemental Assessment Methodology Report Series 2026 Bonds, Laurel Road Community Development District, dated June 2026, (the “Supplemental Assessment Report”), the same of which is attached hereto as Exhibit “B,” and incorporated herein; and
WHEREAS, the Supplemental Engineer’s Report and Supplemental Assessment Report both provide for the specific improvements and specific special assessments relating to the Series 2026 Bonds; and the District does hereby approve, adopt, ratify, and confirm same.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT AS FOLLOWS:
SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted pursuant to the provisions of Florida law, including Chapters 170, 190 and 197, Florida Statutes, and Resolution 2022-06.
SECTION 2. FINDINGS. The Board of Supervisors of the Laurel Road Community Development District hereby finds and determines as follows:
After due notice and public hearing, the District previously adopted Resolutions 2022-

04, 2022-05 and 2022-06, respectively, (the “Assessment Resolutions”), which Assessment Resolutions, among other things, imposed, levied, and provided for the collection of special assessments on property benefiting from the improvements authorized by the District. The Assessment Resolutions provided that as each series of bonds were issued to fund all or any portion of the District’s improvements, a supplemental resolution would be adopted to set forth the specific terms of the bonds and certifying the amount of the lien of the special assessments securing any portion of the bonds, including interest, costs of issuance, the number of payments due.
The Supplemental Engineer’s Report identifies and describes the presently expected components of the improvements to be partially financed with the Series 2026 Bonds (the “2026 Improvements”), and the estimated costs of the 2026 Improvements. The District hereby confirms that the 2026 Improvements serve a proper, essential, and valid public purpose. The Supplemental Engineer’s Report, attached hereto as Exhibit “A,” is hereby adopted, approved, ratified, and confirmed; and the District ratifies its use in connection with the sale of the Series 2026 Bonds.
The Supplemental Assessment Report applies the adopted Assessment Methodology as set forth in Resolution 2022-06 to the 2026 Improvements and the actual terms of the Series 2026 Bonds. The Supplemental Assessment Report, attached hereto as Exhibit “B,” is hereby adopted, approved, ratified, and confirmed; and the District ratifies its use in connection with the sale of the Series 2026 Bonds.
The 2026 Improvements will specially benefit certain property, the legal description of which is attached to the Supplemental Assessment Report, and is further attached hereto as Exhibit “C,” and incorporated herein, (the “District Lands”). The District Lands are further

described as: All lots and lands adjoining and contiguous or bounding and abutting the 2026 Improvements or specially benefitted thereby and further designated by the assessment plat, as hereinafter provided in the Supplemental Engineer’s Report. The Series 2026 Assessments shall be levied on the District Lands. It is reasonable, proper, just, and right to assess the portion of the costs of the 2026 Improvements financed with the Series 2026 Bonds to the specially benefited properties within the District as set forth in Resolution 2022-06 and this Resolution 2026-06.
SECTION 3.	CONFIRMATION OF ASSESSMENT LIEN FOR THE SERIES
2026 BONDS. As provided in Resolution 2022-06 and herein, this Resolution is intended to set forth the terms of the final amount of the lien of the special assessments securing those bonds.
The lien of the special assessments securing the Series 2026 Bonds on the respective District Lands shall be the principal amount due on the respective Series 2026 Bonds, together with accrued but unpaid interest thereon, and together with the amount by which annual assessments are grossed up to include early payment discounts required by law and costs of collection.
SECTION 4. ALLOCATION OF ASSESSMENTS SECURING THE SERIES 2026 BONDS.
The special assessments for the Series 2026 Bonds shall be allocated in accordance with the Supplemental Assessment Report. The Supplemental Assessment Report, considered herein, reflects the actual terms of the issuance of the District’s Series 2026 Bonds. The estimated costs of collection of the special assessments for the Series 2026 Bonds are as set forth in the Supplemental Assessment Report, which report may be further amended from time to time.

The lien of the special assessments securing the Series 2026 Bonds includes all property within the District Lands, and as such land is ultimately defined and set forth in plats or other designations of developable acreage. To the extent land is added to the District, the District may, by supplemental resolution, determine such land to be benefited by the Series 2026 Improvements and reallocate the special assessments securing the Series 2026 Bonds and impose special assessments on the newly added and benefited property.
The District hereby certifies the special assessments for collection and directs staff to take all actions necessary to meet the time and other deadlines imposed by Sarasota County and Florida law for collection. The District intends, to the extent possible and subject to entering into the appropriate agreements with the Sarasota County Tax Collector and Sarasota County Property Appraiser, to collect the Series 2026 Bond special assessments on platted or developed lands using the Uniform Method in Chapter 197, Florida Statutes. The District may, to the extent possible, directly bill, collect, and enforce the Series 2026 Bond special assessments on unplatted lands. The District Manager shall prepare or cause to be prepared each year a tax roll for purposes of effecting the collection of the special assessments and present same to the District Board as required by law. The District Manager is further directed and authorized to take all actions necessary to collect any prepayments of debt as and when due and to collect special assessments on unplatted property using any method available to the District and authorized by Florida law.
SECTION 5. IMPROVEMENT LIEN BOOK. Immediately following the adoption of this Resolution, these special assessments as reflected herein, and specifically in the Supplemental Assessment Report shall be recorded by the Secretary of the Board of the District in the District’s Improvement Lien Book, and to the extent same have already been recorded in

the District’s Improvement Lien Book pursuant to Resolution 2022-06, shall be further ratified, and confirmed. The special assessment or assessments against each respective parcel shall be and shall remain a legal, valid, and binding first lien on such parcel until paid and such lien shall be coequal with the lien of all state, county, district, municipal or other governmental taxes and superior in dignity to all other liens, titles, and claims. This Resolution and the Special Assessments set forth herein are intended to supplement those special assessments set forth in Resolution 2022-06, which assessments set forth therein shall remain legal, valid, and binding first liens on the lands within the District, specifically the District Lands.
SECTION 6. OTHER PROVISIONS REMAIN IN EFFECT.	This Resolution is
intended to supplement Resolution 2022-06, which Resolution remains in full force and effect. This Resolution and Resolution 2022-06 shall be construed to the maximum extent possible to give full force and effect to the provisions of each resolution. All District resolutions or parts thereof relating to the District Lands in actual conflict with this Resolution are, to the extent of such conflict, superseded.
SECTION 7. ASSESSMENT NOTICE. The District’s Secretary is hereby directed and ordered to record a Notice of Series 2026 Special Assessments Liens securing the Series 2026 Bonds and liens in the Official Records in and for Sarasota County, Florida, or such other instrument evidencing the actions taken by the District.
SECTION 8. SEVERABILITY. If any section or part of a section of this Resolution be declared invalid or unconstitutional, the validity, force and effect of any other section or part of a section of this Resolution shall not thereby be affected or impaired unless it clearly appears that such other section or part of a section of this Resolution is wholly or necessarily dependent upon the section or part of a section so held to be invalid or unconstitutional.

SECTION 9. EFFECTIVE DATE. This Resolution shall become effective upon its adoption.
PASSED AND ADOPTED in Public Session of the Board of Supervisors of the Laurel Road Community Development District, this 10th day of June 2026.

ATTEST:	LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT

Secretary / Asst. Secretary	Pete Williams, Chairman

EXHIBITS:

Exhibit “A”:	Laurel Road Community Development District Supplemental Report of District Engineer dated June 2, 2026

Exhibit “B”:	Supplemental Assessment Methodology Report Series 2026 Bonds, Laurel Road Community Development District, dated June 2026

Exhibit “C”:	District Lands

Exhibit “A”

Supplemental Engineer’s Report

LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT
Supplemental Report of District Engineer
June 02, 2026

Prepared for:
Laurel Road Community Development District
Sarasota County, Florida

Prepared by:
Bobbi R. Claybrooke, P.E. AM Engineering, LLC Sarasota, Florida

TABLE OF CONTENTS

Page #
INTRODUCTION	1
LAND USE	1-2
PERMITTING	2
PROPOSED INFRASTRUCTURE FOR THE DISTRICTS SERIES 2026 PROJECT	2-5
PROPOSED PRIVATE COST FOR SERIES 2026 PROJECT	5
SUMMARY & CONCLUSION	5-6

EXHIBITS
LOCATION MAP	EXHIBIT 1

DEVELOPMENT PLAN	EXHIBIT 2

SERIES 2026 PUBLIC PROJECT COST	EXHIBIT 3
OWNERSHIP & MAINTENANCE	EXHIBIT 4

PHASE 2 PRIVATE PROJECT COST	EXHIBIT 5
PHASE 2 LEGAL DESCRIPTION	EXHIBIT 6

INTRODUCTION
Vistera (the “Development”) encompasses approximately 299 acres and is planned to include approximately 581 residential units, 665 apartment units and up to 360 units for the assisted living facility as well as 15 ac of medical office and/or house of worship situated in three (3) parcels. The Laurel Road Community Development District’s (the “District”) boundaries are coterminous with the boundaries of the Development. The District Engineer’s Report (amended and restated) dated July 1, 2021 describes the scope and estimated cost of the District’s entire capital improvement program (the “CIP”) serving the entire District which is estimated to cost approximately $47.85 million and includes roadways, drainage, water and waste water, reclaimed/irrigation distribution, clearing and earthwork, landscaping, parks, recreation and community facility, entry features and signs, offsite roadway improvements, offsite utility improvements, contingency and professional fees
As previously mentioned, the Development is planned for approximately 581 residential units, 665 apartment units and up to 360 units for assisted living facility as well as 15 ac of medical office and/or house of worship situated in three (3) parcels. The apartment parcel is situated in the northeastern corner of the District along Laurel Road and is fully constructed consisting of 665 apartment units. The assisted living parcel is located in the northwestern corner of the District across the apartment parcel and is planned for up to 360 assisted living units. The remaining residential parcel is located within the southern portion of the District and is planned for 581 residential units to be developed in two (2) phases.

Of the planned development, 391 residential units (with associated amenity site) and 665 apartments are constructed. The constructed units are within the Phase 1 area as defined in this report.

The capital improvements described in the CIP will be constructed in multiple phases over time. This Supplemental Engineer’s Report (the “Report”) has been prepared to assist with the financing and construction of the infrastructure components of the second Phase of the CIP which is estimated to cost $10.96 million and includes the costs allocable to the second phase of the Development (the "Series 2026 Project") and includes certain master infrastructure improvements and neighborhood infrastructure costs allocable to Phase 2 of the residential parcel in the Development planned for 190 residential units.
The land within Phase 2 of the residential parcel of the Development consists of 41.87 acres and is planned for 190 residential units. A depiction of the Phase 2 lands and the overall land area discussed in this Report is included in Exhibit 1. In summary, the primary purpose of this Report is to provide the details of the proposed infrastructure costs that qualify to be funded by the District for the completion of the 190 residential units planned Phase 2 of the Development and distinguish the costs to be funded with proceeds of the Series 2026A Bonds. The private component of the development costs are funded by the Developer (“Private Costs”).
Costs contained in this Report are prepared based on actual construction costs where available and on estimates of costs using the best available information. It is possible that the estimated costs could vary based on final engineering and ultimate construction bids.
LAND USE
The Development is part of a 299-acre tract that received zoning approval from the City of Venice as a planned unit development (the “Laurel Road PUD”). The Laurel Road PUD originally provided for the development of up to 1,300 residential units with a maximum of five percent (5%) (or approximately fifteen (15) acres) of the Development reserved for proposed medical office or house of worship uses The Laurel Road PUD was amended on March 10, 2026 to increase the density to 1,607 maximum dwelling units, with 360 of the units to the approximately 17 acre parcel designated for assisted living facilities.

Phase 1 of the residential parcel of the Development consisting of 78.24 acres comprises 391 platted residential units consisting of 269 single-family units and 122 paired villas as detailed in Exhibit 2. Construction of Phase 1 is complete. Phase 2 of the residential parcel of the Development consists of 41.87 acres and is planned for 190 residential units, which are also detailed in Exhibit 2. Land Uses within the Development are planned to include the following approximate areas:

Ph 1 Residential (Single-Family, Paired Villas and Amenity Center)	78.238 acres	
Ph 2 Residential (Single-Family)	41.872 acres	
Open Space	49.390 acres	
Outparcels	48.420 acres	
Wetland Preservation	23.140 acres	
Wetland Creation	8.450 acres	
Lakes	49.226 acres	
Buffers	0.550 acres	
Total Acres:	299.286 acres	

PERMITTING
The Development will be under the jurisdiction and review of City of Venice, Sarasota County (wastewater Phase 1 only), Southwest Florida Water Management District (SWFWMD), Army Corps of Engineers (USACE), and the Florida Department of Environmental Protection (FDEP). A permit for U.S. Army Corps of Engineers for wetland mitigation is not required for this Development.
At the time of this Report, the following permits have been obtained for Phase 2 of the Development as follows:

Permit	Permit Number	Date Approved	
COV - Preliminary Plat – Phase 2	No. 25-18PP	08/19/2025	
SWFWMD – Phase 2 ERP Modification	43044320.005	05/16/2025	
COV Construction Permit – Phase 2	ENCP25-00259	03/05/2026	
FDEP Wastewater Permit	CS58-471542	06/02/2026	
FDOH Water Permit	0124807-253-DSGP	05/08/2026	

Permits have been obtained to commence Phase 2 construction. The construction activities for Phase 2 of the residential parcel within the Development, consisting of 190 lots has commenced. It is currently anticipated that Phase 2 infrastructure construction will be complete end of Q1 of 2027. It is anticipated that the final plat for Phase 2 of the residential parcel within the Development will be recorded by end of Q4 of 2026.
PROPOSED INFRASTRUCTURE FOR THE DISTRICT’S SERIES 2026 PROJECT
The District presently intends to acquire, construct or equip certain public infrastructure improvements necessary for the development of the District. As previously mentioned, the Series 2026 Project includes certain master infrastructure improvements and neighborhood infrastructure costs allocable to Phase 2 of the residential parcel in the Development planned for 190 residential units and is estimated to cost $10.96 million. Enumeration of the estimated costs of the Series 2026 Project are provided in Exhibit 3.

ROADWAYS
District Funded Offsite Roadways:
The Transportation Impact Analysis required by the City of Venice requires certain off-site roadway improvements to be completed as a condition of development of the Community. These improvements include turn lanes on both Laurel Rd and Border Rd. The District has funded these offsite improvements and they are complete.
District Funded Internal Roadways:
The design of roadways within the District will comply with the City of Venice’s code requirements. Based on the current plan of development, the District will fund and construct undivided 2-lane roads providing access to the residential units and amenities. When completed, the District will own, operate and/or maintain the roadways within the District. The Phase 1 roadways are complete and the Phase 2 roadways are currently under construction.

UTILITIES
The District will fund and construct the potable water distribution system, the wastewater collection and transmission system, the reclaimed water distribution systems, and the irrigation water systems.
Potable Water and Reclaimed
The District is within the City of Venice Service Area for the provision of potable water and reclaimed water. When these utilities are completed by the district, the City of Venice will then own, operate and maintain the public potable water distribution system and reclaimed water distribution systems. The Phase 1 system is complete and the Phase 2 system is currently under construction.
Sewer
The site sewer is provided by two entities. The City of Venice provides sewer service to the western portion of the property and Sarasota County, via the Curry Creek service area, provides service to the eastern portion of the property. Exhibit E of the Engineer’s Report, dated July 1, 2021, shows the sewer service areas. When these utilities are completed each sewer service utility provider will operate and maintain their respective systems. For the Series 2026 Project, the infrastructure for the eastern Sarasota County system was constructed and placed into service. The forcemain connection to the existing City of Venice collection forcemain in Laurel Rd was also constructed; however, for the Phase 1 project it was a dry line that will only become active when the Phase 2 lift station and forcemain connect to it. It runs along Vistera Blvd and stubs out to the west for future connection to the Phase 2 lift station. Since the connection to the City’s existing system is placed within the Vistera BLVD ROW, the line must be completed before Vistera Blvd is completed. The phase 2 portion of the wastewater system is currently under construction and includes gravity collection, lift station and forcemain to the Vistera Blvd connection point.

STORMWATER MANAGEMENT SYSTEM
The City of Venice and the Southwest Florida Water Management District ("SWFWMD") regulate the design criteria for the stormwater management system within the District. The stormwater runoff from the District area drains to both Roberts Bay and Dona Bay. The pre-development site runoff and water management criteria have been established by The City of Venice and SWFWMD.

The stormwater management system for the District focuses on utilizing newly constructed ponds in the uplands for stormwater treatment in conjunction with the naturally occurring wetlands.

The primary objectives of the stormwater management system for the District are:
To provide a stormwater conveyance and storage system, which includes stormwater quality treatment.
To adequately protect development within the District from regulatory-defined rainfall events.
To maintain wetland hydroperiods.

To ensure that adverse stormwater impacts do not occur upstream or downstream as a result of the Development.
To satisfactorily accommodate stormwater runoff from adjacent off-site areas that naturally drains through the District. Accommodating existing drainage conditions are a requirement of more than one regulatory agency and are an integral part of the infrastructure improvements constructed with development projects.
To preserve the function of the floodplain storage during the 100-year storm event.

The stormwater management system provides a system for the District that optimizes the drainage, collection, treatment and attenuation of stormwater runoff.

The District will fund, construct, acquire, operate and/or maintain the stormwater management system.

The stormwater collection and outfall systems will be a combination of site grading, earthwork, and stabilization, curb inlets, pipe culverts, control structures, open waterways and wetland conservation areas. Wetland hydroperiods (normal pool and season high water elevations) will be maintained through proper design and maintenance of the outfall control structures.

LANDSCAPE AND HARDSCAPE
Internal roads and some parks and open space will be irrigated and landscaped. Walls, berms or fencing with or without landscaping will provide buffering in accordance with the City of Venice regulatory requirements. The District will fund and construct the landscaping along the roads, the open space or park areas, retaining walls, buffer walls, fencing and landscape buffers within the District’s boundary. The District will be responsible for operation and maintenance of these items.

Master development and village signage and monumentation will also be funded and constructed by the District and maintained by the District.

RECREATIONAL FACILITIES
The District will fund and construct the amenity center within the Development, including certain recreational facilities and other passive recreational features. The recreational components will generally be within District open space, parks and other public areas. The District will operate and maintain the recreational facilities. The amenity center was constructed as part of Phase 1 and is currently complete.

PROFESSIONAL SERVICES
Professional fees include civil engineering costs for master planning, site design, permitting, preparation of construction plans, inspection and survey costs for construction staking, preparation of record drawings and preparation of preliminary and final plats.

Professional fees also may include geotechnical costs for pre-design soil borings, underdrain analysis, soil stabilization, and construction testing, architectural costs for landscaping, fees associated with transportation planning and design, environmental consultation, irrigation system design and fees for permitting, as well as costs for legal and engineering services associated with the administration of the District's CIP.

CONTINGENCY
This category includes the cost for adjustments as a result of unexpected field conditions, additional requirements of governmental agencies, market conditions, and other unknown factors that may occur throughout the course of

development and construction of the infrastructure. In general, the contingency amount is based on a percentage of the total infrastructure cost estimate.

As mentioned, a portion of these improvements will be funded by the Developer and then purchased by the District. The construction and maintenance of the proposed improvements are necessary and will benefit the property. A more specific description of these items is provided in Exhibit 4.
PROPOSED PRIVATE COST FOR SERIES 2026 PROJECT
The total infrastructure budget for the District is estimated to cost $11.5 million and consists of the following (i) the District’s CIP representing $10.9 million and (ii) the private component at $0.6 million which consists primarily of onsite street and entry lighting/electrical and certain clearing and earthwork/BMPs, as summarized in Exhibit 5(the "Private Costs").
The underground electrical system will be privately funded. FP&L will own, operate and maintain the underground electrical system. The Series 2026 Project shall include on-site street and entry lighting at each entry to the development (Laurel Rd and Border Rd) as well as the street lighting along the internal streets servicing the development.
SUMMARY AND CONCLUSION
The Series 2026 Project is necessary for the functional development of the District as required for an applicable independent unit of local governments and will benefit the District and its residents. In addition, the Developer is obligated to fund and construct the Private Costs summarized in Exhibit 5 herein in order to deliver the development plan for the project. The planning and design of the infrastructure is in accordance with current governmental regulatory requirements and will provide its intended function so long as the construction is in substantial compliance with the design and applicable permits.
It is our professional opinion that the infrastructure costs provided herein for the Series 2026 Project are reasonable to complete the construction of the infrastructure described herein and that these infrastructure improvements will benefit and add value to the District. All such infrastructure costs are public improvements or community facilities as set forth in Sections 190.012(1) and (2) of the Florida Statutes.
It is our professional opinion that the infrastructure costs provided herein for the Private Costs are reasonable to complete the construction of the infrastructure described herein and that these infrastructure improvements will benefit and add value to the District.
The estimate of infrastructure construction costs is only an engineer’s opinion and not a guaranteed maximum price. The estimated costs are based on unit prices currently being experienced for ongoing and similar items of work in Sarasota County and quantities as represented on the current construction plans and concept plans for future phases. The labor market, future costs of equipment and materials, and the actual construction process are all beyond our control. Due to this inherent opportunity for fluctuation in cost, the total final cost may be more or less than this estimate.
Assuming project construction continues in a timely manner, it is our opinion that the proposed improvements, if constructed and built in substantial accordance with the approved plans and specifications, can be completed and meet their intended functions. Where necessary, historical costs, information from other professional or utility consultants and contractors have been used in preparation of this report. Consultants and contractors who have contributed in providing cost data included in the report are reputable entities in the Sarasota County area. It is therefore our opinion that the construction of the proposed project can be completed at the cost stated.

The District and/or Developer has met the requirements of the Laurel Road PUD and other regulatory permits to date and there are no unusual or restrictive provisions of the documents of all the applicable regulatory agencies that, in the opinion of the District Engineer, cannot be met in the ordinary course of constructing and delivering capital improvements described herein.

EXHIBIT 1
LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT
LOCATION MAP

LEGEND:
PHASE 1

PHASE 2

Civil Engineering | Land Surveying	PROJECT LOCATION MAP

8340 Consumer Court Sarasota, FL 34240
Phone: (941) 377-9178 | www.amengfl.com
CA #33105 | LB #4334

LAUREL ROAD CDD
Venice, FL

Table 2.1 – Phase 1 Development Plan (Construction Completed)

Product-Type	# Units	
Type A - Paired Villas (75’ x 126’)	122	
Type B - Single Family (40' x 120’)	75	
Type C - Single Family (50' x 120’)	85	
Type D - Single-Family (45' x 140’)	67	
Type E - Single Family (57' x 135’)	42	
Phase 1 Total (Construction Completed)	391	

Table 2.2 – Phase 2 Development Plan (Under Construction)

Product-Type	# Units	
Type C - Single Family (50' x 120’)	85	
Type E - Single Family (57' x 135’)	105	
Phase 2 Total
(Under Construction)	190	

Infrastructure	Master Infrastructure	Phase 2 Infrastructure	Series 2026 Project Cost	
Internal Roadway	$
-	$	1,122,929.80	$	1,122,929.80	
Drainage (Including Curb)	$
-	$	1,299,507.65	$	1,299,507.65	
Water & Wastewater	$
-	$	2,791,096.85	$	2,791,096.85	
Reclaimed/Irrigation Distribution	$
-	$	423,273.00	$	423,273.00	
Clearing, Earthwork and BMPs	$
-	$	493,140.75	$	493,140.75	
Landscape	$
-	$	855,000.00	$	855,000.00	
Profesisonal Fees & Permitting
(for only Public/CDD allocated fees)	$
-	$	2,000,000.00	$	2,000,000.00	
Contingency & Other	$
-	$	1,980,000.00	$	1,980,000.00	
Total	$
-	$	10,964,948.05	$	10,964,948.05	

Note:
1. Construction costs do not include cost of financing. Estimated costs are for the powers permitted under Section 190.012(1), Florida Statutes, as amended, and the additional powers requested in the Petition under Sections 190.012(2)(a) and (2)(d), Florida Statutes. This good faith estimate of costs and timetable of construction is provided pursuant to Section 190.005(a) and (1)(a) 6. Florida Statutes, and is subject to future changes in construction costs and timing based on engineering design and permitting.

ENGINEER'S CERTIFICATION: This is to certify that construction costs represents a good faith estimation for the Laurel Road Community Development District current plan of improvement.

EXHIBIT 4
LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT
OWNERSHIP AND MAINTENANCE

Maintenance and operational responsibilities of the Project will include the following:
Maintenance and operation of the off-site roadway improvements will be the responsibility of Sarasota County.

Maintenance of the District owned on-site roadways (including lighting, signage and furnishings) will be the responsibility of the District.

Maintenance and operation of the potable water and reclaimed water systems will be the responsibility of the City of Venice.
Maintenance and operation of the irrigation system associated with the roadway system will be the responsibility of the District.

Maintenance and operation of the Phase 1 (east property) sanitary sewer system will be the responsibility of Sarasota County.

Maintenance and operation of the Phase 2 (west property) sanitary sewer system will be the responsibility of the City of Venice.

Maintenance and operation of the stormwater management system will be the responsibility of the District.

PHASE 2 PRIVATE PROJECT COST

Infrastructure	Master Infrastructure	Phase 2 Infrastructure	Series 2026 Project Cost	
Onsite Street & Entry Lighting/Electrical	$
-	$	412,500.00	$	412,500.00	
Clearing Earthwork & BMP's	$
-	$	190,000.00	$	190,000.00	
Total	$
-	$	602,500.00	$	602,500.00	

Note:
Construction costs do not include cost of financing. Estimated costs are for the powers permitted under Section 190.012(1), Florida Statutes, as amended, and the additional powers requested in the Petition under Sections 190.012(2)(a) and (2)(d), Florida Statutes. This good faith estimate of costs and timetable of construction is provided pursuant to Section 190.005(a) and (1)(a) 6. Florida Statutes, and is subject to future changes in construction costs and timing based on engineering design and permitting.

ENGINEER'S CERTIFICATION: This is to certify that construction costs represents a good faith estimation for the Laurel Road Community Development District current plan of improvement.

PHASE 2 LEGAL DESCRIPTION

TRACT 300, VISTERA, PHASE 1, AS RECORDED IN PLAT BOOK 56, PAGES 420-457, OF THE PUBLIC RECORDS OF SARASOTA COUNTY, FLORIDA, LYING IN SECTION 34, TOWNSHIP 38 SOUTH, RANGE 19 EAST, CITY OF VENICE, SARASOTA COUNTY FLORIDA.
CONTAINING 41.8721 ACRES MORE OR LESS

Exhibit "B"

SUPPLMENTAL ASSESSMENT METHODOLOGY REPORT, SERIES 2026 BONDS

LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT

June 2026

Prepared for:

Members of the Board of Supervisors,
Laurel Road Community Development District

Prepared on June 4, 2026

PFM Financial Advisors LLC
3501 Quadrangle Blvd., Suite 270
Orlando, FL 32817

SUPPLEMENTAL ASSESSMENT METHODOLOGY, SERIES 2026 BONDS LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT
June 4, 2026

Introduction

Purpose

This Supplemental Assessment Methodology Report, Series 2026 Bonds (“Supplemental Report”) provided a methodology for allocating the assessments securing the repayment of the planned Series 2026 Capital Improvement Revenue Bonds, (the “Series 2026 Bonds”) to be issued by Laurel Road Community Development District (the, “District”). This Supplemental Report applies and operates pursuant to the methodology outlined in the Amended and Restated Master Assessment Methodology dated July 14, 2021 (“Methodology”), which effectively amended and restated the District’s “Master Assessment Methodology,” dated December 21, 2020 (“Adopted Methodology”).

The District consisting of 299.286 gross acres is currently planned to be developed in multiple phases ultimately providing infrastructure supporting the development of approximately 581 residential units. The Series 2026 Project (“Series 2026 Project”), as outlined in Exhibit 3 of the Engineer’s Report, consists of certain master infrastructure improvements and neighborhood infrastructure costs allocable to Phase 2 of the residential parcel in the Development planned for 190 residential units and is estimated to cost
$10.96 million. The assessable properties located within the District receive special benefit from the Series 2026 Project. The District will issue the Series 2026 Bonds to finance a portion of the Series 2026 Project in the amount of $5.74 million. The Series 2026 Bonds and associated assessments (“Series 2026 Assessments”) will provide for the construction or acquisition of assessable improvements to certain properties located within the District’s Phase 2. The methodology described herein allocates the cost of the Series 2026 Project to certain properties within the District, based upon the benefits those properties receive from those improvements.

This Methodology is designed to conform to the requirements of Chapters 170, 190, and 197 of the Florida Statutes with respect to special assessments and is consistent with our understanding of the case law on this subject.

Background

The District was created on April 28, 2020. The District encompasses approximately 299.286 acres in Sarasota County. The Laurel Road Community Development District Report of District Engineer, dated December 21, 2020 as same was later amended and restated on July 1, 2021 and the Laurel Road Community Development District Supplemental Report of District Engineer, dated May 11, 2026 (collectively, the “Engineer’s Report”)1 as provided by AM Engineering, LLC (“District Engineer”) provides a description of the area and a location map.

This Supplemental Report provides a methodology to allocate the debt over the approximately 49.238 acres in the District associated with the Phase 2 lands (“Series 2026 Assessment Area”), that will receive a special benefit from the installation of the proposed District’s Series 2026 Project. It is the District’s debt-funded capital infrastructure improvements that will allow the development of the lands within the District. By making development of the lands within the District possible, the District creates benefits to the lands within the District.
The methodology described herein allocates the District’s debt to the District’s lands based upon the benefits received from the infrastructure program. This report is designed to conform to the requirements of Chapter 170, F.S. with respect to special assessments and is consistent with our understanding of the case law on this subject.2

Projected Land Use Plan for the District’s Phase 2
The methodology described herein initially allocates the District’s debt over the gross acreage in the District’s Series 2026 Assessment Area on an equal acreage basis. As such acreage is sold with entitlements transferred thereto or is developed and platted, the Series 2026 Assessments are allocated on a per lot basis.
The Series 2026 Assessments levied in connection with the Series 2026 Bonds (the “Series 2026 Assessments”) will initially be allocated over the District’s Series 2026 Assessment Area. The Series 2026 Assessments will then be allocated on a per lot basis upon sale of property with specific entitlements transferred thereon or platting of the units within Phase 2 of the residential parcel in the Development planned for 190 residential lots. Based on the sizing of the Series 2026 Bonds, it is anticipated the Series 2026 Assessments levied in connection with the Series 2026 Bonds will be allocated to the Series 2026 Assessment Area and ultimately to the assessable units within Phase 2 of the District as illustrated in Tables 4 and 5 herein which is planned for 190 residential units.

This report is designed to conform to the requirements of Chapter 170, F.S. with respect to special assessments and is consistent with our understanding of the case law on this subject. This Supplemental Report addresses the allocation of the costs of the Series 2026 Project to these developable properties located within the District that receive a special benefit from the Series 2026 Project. Table 1 identifies the property and planned unit types within the District that are ultimately anticipated to be subject to the Series 2026 Assessments.

1 AM Engineering, LLC., (May 2026) Supplemental Report of District Engineer (May 11, 2026)
2 See for City of Winter Springs v. State, 776 So.2d 255 (Fla 2003) and City of Boca Raton, v. State, 595 So.2d 25 (Fla 1992)

Table 1. Development Plan for Laurel Road, Phase 2

Lot Size	Phase 2	
Paried Villas 75'	0	
SF 40'	0	
SF 45'	0	
SF 50'	85	
SF 57'	105	
Total	190	
Source: AM Engineering, LLC

CIP - Infrastructure Installation

The District will construct its public infrastructure and improvements as outlined in the Engineer’s Report, as prepared by the District Engineer. The District infrastructure and improvements for the District’s entire CIP are presented in Table 2.

Table 2. Summary of CIP Cost Estimates (1)

Category	Master Infrastructure	PH 2 Infrastructure	Series 2026 Project Cost	
Internal Roadway	$0	$1,122,930	$1,122,930	
Drainage (Including Curb)	$0	$1,299,508	$1,299,508	
Water & Wastewater	$0	$2,791,097	$2,791,097	
Reclaimed/Irrigation Distribution	$0	$423,273	$423,273	
Clearing Earthwork & BMP's	$0	$493,141	$493,141	
Landscape	$0	$855,000	$855,000	
Professional Fees & Permitting	$0	$2,000,000	$2,000,000	
Contingency & Others	$0	$1,980,000	$1,980,000	
TOTAL	$0	$10,964,948	$10,964,948	
`	Source: AM Engineering (District Engineer), Exhibit 3 Engineer's Report.
(1) Any costs outlined in the Engineer's Report not funded with bond proceeds will be funded via Developer's Agreement with the District

Requirements of a Valid Assessment Methodology

In PFM Financial Advisors LLC, the Assessment Consultant’s (“PFM” and/or “AC”) experience, there are two primary requirements for special assessments to be valid under Florida law. First, the properties assessed must receive a special benefit from the improvements paid for via the assessments. Second, the assessments must be fairly and reasonably allocated to the properties being assessed. If these two characteristics of valid special assessments are adhered to, Florida law provides some latitude to legislative bodies, such as the District’s Board of Supervisors, in approving special assessments. Indeed, Florida courts have found that the mathematical perfection of calculating special benefit is impossible, and, accordingly, a special assessment is valid as long as there is a logical relationship between the services provided and the benefit to real property. A court must give deference to the District’s determinations regarding the levy of special assessments, and such special assessments are only invalid if the District’s determinations are found to be arbitrary.

Special Benefits and General Benefits

Improvements undertaken by the District create both special benefits and general benefits to property owners located within and surrounding the District. However, in our opinion, the general benefits to the public at large are incidental in nature and are readily distinguishable from the special benefits which accrue to property located within the District. It is the District’s CIP that enables properties within the District’s boundaries to be developed. Without the District’s CIP there would be no infrastructure to support development of land within the District. Without these improvements, development of property in the District would not be permitted.

The new infrastructure improvements included in the CIP create both: (1) special benefits to the developable property within the District and (2) general benefits to properties outside the District. However, as discussed below, these general benefits are incidental in nature and are readily distinguishable from the special benefits which accrue to the developable property within the District. The CIP described in the District Engineer’s Report enables the developable property within the District to be developed. Without the CIP, there would be no infrastructure to support development of the developable property within the District.

CIP Plan of Finance

The District’s Series 2026 Bonds will have a maximum total par value of $5,740,000. Table 3 presents the details for the Series 2026 Bonds.

Table 3. Details of the Series 2026 Bonds

Sources
Bond Proceeds:		
Par Amount	$5,740,000	
Original Issue Discount	-$4,507	
	$5,735,493	
Uses		
Project Fund Deposits:		
Project Fund	$5,107,284	
Other Fund Deposits:	
Capitalized Interest thru 11/1/2026	$109,906	
DSRF@ 50% MADS	$197,423	
Delivery Date Expenses:		
Cost of Issuance	$206,080	
Underwriter's Discount	$114,800	
Total	$5,735,493	
Term	30	
Maximum Net Annual Debt Service	$394,845	
 Maximum Gross Annual Debt Service	$417,825 
Source: MBS Capital Markets LLC

Assessment Methodology

Assessment Foundation

The assessment methodology consists of five steps described below. First, the District Engineer estimates the costs for the District improvements needed for the buildout of the District. Second, the District Engineer determines the gross acres that benefit from the Series 2026 Project. Third, the District’s bond underwriter and AC determine the total funding amount (including financing costs) needed to acquire and/or construct a portion of the Series 2026 Project. Fourth, consistent with the Master Report, this amount is initially divided equally among the Series 2026 Assessment Area on a gross assessable acreage basis. Finally, as land is sold with entitlements or platted, the debt is allocated on a per lot basis on the assessable lands within the District.
As described more fully below, the District is issuing $5,740,000 in Series 2026 Bonds to fund a portion of the Phase 2 Project to provide for a debt service reserve account, to capitalize a portion of the interest on the Series 2026 Bonds, and to fund other costs associated with issuing the Series 2026 Bonds. It is the debt represented by the Series 2026 Bonds that is anticipated to be fully allocated to properties within the District that benefit from the Series 2026 Project.

Allocation of Specific Assessments

The assessment methodology allocates debt to specific properties in the District based upon the benefit that each one receives from the Series 2026 Project funded by proceeds of the Series 2026 Bonds. The improvements proposed for Series 2026 Project in the District to be acquired and/or constructed with District funds will benefit all acres in the District. Each of the acres of land within the District’s Series 2026 Assessment Area will initially share equally in the benefits/costs bestowed by such improvements and upon sale with entitlements transferred thereto or property is developed and platted the special assessments securing the Series 2026 Bonds will be allocated on a per lot basis, as illustrated in Table 4 and Table 5.

More specifically, the Series 2026 Assessments levied in connection with the Series 2026 Bonds will initially be levied on an equal acreage basis over all acreage within the District’s Series 2026 Assessment Area and then be allocated on a per unit basis as illustrated in Tables 4 and 5 upon the sale of property with specific entitlements transferred thereto or platting within Phase 2 of the residential parcel in the District planned for 190 residential lots. The Series 2026 Bonds were sized to correspond to the collection of Series 2026 Assessments from all 190 residential units planned for Phase 2 of the residential parcel in the District. The Series 2026 Assessments are expected to be paid annually over a thirty (30) year period.
As noted above, if two basic principles are adhered to, Florida law generally allows the District Board some latitude in determining the appropriate methodology to allocate the costs of its CIP to benefiting properties in the District. The two principles are: (1) the properties being assessed must receive a special benefit from the CIP and (2) the assessments allocated to each property must be fairly and reasonably apportioned among the benefiting properties.

In allocating special assessments to benefiting property, Florida governments have used a variety of methods including, but not limited to, front footage, area, trip rates, equivalent residential units (“ERU”), dwelling units, and acreage. These ERU values equate the benefit received by a stated amount of such land use category to the benefit received by a typical single-family residence. As adopted by the District’s Board of Supervisors in the Master Report, the use of ERU values to estimate the benefit derived from infrastructure improvements is recognized as a simple, fair, and reasonable method for apportioning benefit. The Florida Supreme Court concluded that the ERU method was a valid methodology in its decision in Winter Springs v. State.3 In addition, the ERU methodology is widely used in other similar CDDs.

Table 4 contains the allocation of the District’s Series 2026 Project costs, as financed, to the units planned for Phase 2 of the District which is anticipated to fully absorb the Series 2026 Assessments. Table 5 shows the annual bond debt service assessments associated with the bond par allocations found in Table 4. Table 5 becomes important as the land within the District’s is platted, as specific bond debt service assessments will be assigned to the individual units at that time.

Table 4. Phase 2 - Allocation of the Costs of the Series 2026 Project, as Financed

Land Use	
# Units	Est. Series 2026 Bonds Principal per Unit	Est. Series 2026 Bonds Gross Annual DS per Unit	
SF 50'	85	$28,040	$2,041	
SF 57'	105	$31,967	$2,327	
Total	190			
Source: PFM Financial Advisors LLC

Table 5. Phase 2 - Summary of Annual Assessments

Land Use	
Units	Series 2026 Bonds Principal per Unit (1)	Series 2026 Bonds Principal, all Units		
SF 50'	85	$28,040	$2,383,416		
SF 57'	105	$31,967	$3,356,584		
Total	190		$5,740,000		

Land Use	Series 2026 Net Annual Assmts	Series 2026 Bonds Net Annual Assmt./ Unit (1)	Total Series 2026 Gross
Annual Assmts	Series 2026 Bonds Gross Annual Assmt./ Unit (1)	
SF 50'	$163,951	$1,929	$173,493	$2,041.10	
SF 57'	$230,894	$2,199	$244,332	$2,326.97	
Total	$394,845		$417,825		
Source: PFM Financial Advisors LLC
(1)  Gross assessments represent the assessment placed on the County tax roll each year, if the District elects to use the Uniform Method of collecting non-ad valorem assessments authorized by Chapter 197 of the Florida Statutes. Gross assessments include a 5.5% gross-up to account for the fees of the County Property Appraiser and Tax Collector and the statutory early payment discount.

3 City of Winter Springs v. State, 776 So.2d 255 (Fla 2003)

True-Up Mechanism

Although the District does not process plats, it does have an important role to play during development. Whenever a parcel’s land use and development density and intensity is determined with sufficient certainty, the District must allocate a portion of its debt to the parcel according to the procedures outlined in Section 3.2 above. In addition, the District must also prevent any buildup of debt on land that has not yet been developed. Otherwise, the land could be fully subdivided without all the debt being allocated. To preclude this, a test is conducted when development thresholds are reached within the District. If the development at these thresholds does not cause the debt on the remaining land to increase above a debt “Ceiling Level” illustrated in Table 6 below, then no further action in necessary. However, if the debt on the remaining land does increase, a debt reduction payment will be necessary.

The ceiling level of debt is established at the time each series of bonds is issued. For example, the District plans to issue $5,740,000 in Series 2026 Bonds to fund the Series 2026 Project. According to the Engineer’s Report and the Sarasota County Property Appraiser (Parcel ID 0389061000), there are approximately 41.872 gross acres of land within the District’s Series 2026 Assessment Area (a copy of the legal is provided as Exhibit A). Each of these acres will initially be assigned an equal assessment of the $5,740,000 in remaining unassigned bond debt assessments. The initial ceiling level of debt for gross acres within the District is $137,084 per acre ($5,740,000 / 41.872). This ceiling level is based upon the best information available at the time of this report, is subject to change, and will only be finalized at the time of the District’s first bond issuance.

As adopted by the District’s Board of Supervisors in the Master Report, a test will be conducted when 25%, 50%, 75%, and 90% of the acreage as the District is developed. The ceiling amount of debt is determined at the time any District bond issuance is closed. The ceiling amount is the ratio of the amount of debt outstanding divided by the number of acres of land for which no debt allocation has occurred as per this methodology. Table 6 below illustrates when the true-up test will be applied to determine if debt reduction payments are required. However, if the property owner can demonstrate to the District sufficient future development densities (consistent with the opinion of the District Engineer), a true-up payment may be suspended at the District’s discretion.

Table 6. True- Up Thresholds, Phase 2

Category	25%	50%	75%	90%	100%	
Platted Developable Acres	10.5	20.9	31.4	37.7	41.9	
Unplatted Developable Acres	31.4	20.9	10.5	4.2	-	
Debt Ceiling per Acre	$137,084	$137,084	$137,084	$137,084	$137,084	

In the event that additional land not currently subject to the assessments required to repay the debt associated with the CIP is developed in such a manner as to receive special benefit from the CIP, it is contemplated that this Supplemental Report will be re-applied to include such new parcels. The additional land, as a result of applying this Supplemental Report, will be allocated an appropriate share of the special assessments, with all previously-assessed parcels receiving a relative adjustment in their assessment levels.

Assessment Roll

Table 7 outlines the bond principal assessment per assessable acre for the District. A description of the District, which will be assessed to secure the repayment of the District’s Series 2026 Bonds, is found in Exhibit “A.” The assessments shall be paid in not more than thirty (30) annual installments for the Series 2026 Bonds.

Table 7. Assessment Roll

Assessable	Bond Principal Bond Principal	Assessment per	Net Total Bond Annual	Net Annual Assessment	Bond Gross
Annual	Bond Gross Annual Assessment per	
Parcel ID Numbers	Acreage	Assessment	Acre	Assessment	per Acre	Assessment (1)	Acre (1)	
0389061000	41.872	$5,740,000	$137,084	$395,019	$9,434	$418,010	$9,983	
Source: PFM Financial Advisors LLC
(1) Gross assessments represent the assessment placed on the County tax roll each year, if the District elects to use the Uniform Method of collecting non-ad valorem assessments authorized by Chapter 197 of the Florida Statutes. Gross assessments include a 5.5% gross-up to account for the fees of the County Property Appraiser and Tax Collector and the statutory early payment discount.

Exhibit A Legal Description

CERTIFICATE OF APPROVAL OF COUNTY CLERK
STATE OF FLORIDA) COUNTY OF SARASOTA) SS
I KAREN E. RUSHING, COUNTY CLERK OF SARASOTA COUNTY, FLORIDA, HEREBY CERTIFY THAT THIS PLAT HAS BEEN EXAMINED AND THAT IT COMPLIES IN FORM WITH ALL THE REQUIREMENTS OF THE STATUTES OF FLORIDA PERTAINING TO MAPS AN PLATS, AND THAT THIS PLAT HAS BEEN FILED FOR

VISTERA, PHASE 2
A SUBDIVISION IN SECTION 34, TOWNSHIP 38 SOUTH, RANGE 19 EAST, CITY OF VENICE, SARASOTA COUNTY, FLORIDA.

r

BEING A REPLAT OF TRACT 300, VISTERA, PHASE 1, AS RECORDED IN PLAT BOOK 56, PAGE 420

LOCATION MAP�

DESCRIPTION

PLAT BOOK 		PAGE 	
SHEET 1 OF 15 SHEETS

RECORD IN PLAT BOOK 		, PAGE 	, PUBLIC RECORDS OF SARASOTA COUNTY, FLORIDA, THIS
	DAY OF	, A.D., 2026.
KAREN E. RUSHING
CLERK OF THE CIRCUIT COURT OF SARASOTA COUNTY, FLORIDA
BY: 		 DEPUTY CLERK

CERTIFICATE OF APPROVAL OF CITY COUNCIL
STATE OF FLORIDA) COUNTY OF SARASOTA) SS
IT IS HEREBY CERTIFIED THAT THIS PLAT HAS BEEN OFFICIALLY ACCEPTED BY THE CITY COUNCIL OF VENICE, A MUNICIPALITY IN THE COUNTY OF SARASOTA, STATE OF FLORIDA, THIS  	DAY OF
	, A.D., 2026. APPROVED:

MAYOR, CITY OF VENICE

CITY ENGINEER

ITE

NOT TO SCALE

ROAD

TRACT 300, VISTERA, PHASE 1, AS RECORDED IN PLAT BOOK 56, PAGES 420-457, OF THE PUBLIC RECORDS OF SARASOTA COUNTY, FLORIDA, LYING IN SECTION 34, TOWNSHIP 38 SOUTH, RANGE 19 EAST, CITY OF VENICE, SARASOTA COUNTY FLORIDA.
CONTAINING 41.8721 ACRES MORE OR LESS

CITY AHORNEY

CERTIFICATE OF ACCEPTANCE
STATE OF FLORIDA) COUNTY OF SARASOTA) SS
I, 	, ON BEHALF OF THE BOARD OF SUPERVISORS OF THE LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT, A LOCAL UNIT OF SPECIAL PURPOSE GOVERNMENT ESTABLISHED PURSUANT TO CHAPTER 190, FLORIDA STATUTES, ("THE DISTRICT") HEREBY CERTIFIES THE

\..
SURVEYOR'S NOTES
BEARINGS ARE BASED ON THE SOUTH LINE OF THE SOUTHWEST 1/4 OF SECTION 34, TOWNSHIP 38 SOUTH, RANGE 19 EAST HAVE A BEARING OF S89"40'44"E WAS USED AS SHOWN HEREON.

_,/

CERTIFICATE OF OWNERSHIP AND DEDICATION
STATE OF FLORIDA) COUNTY OF SARASOTA) SS

DISTRICT HAS ACCEPTED THE DEDICATIONS SET FORTH HEREUNDER THE PLAT.

WITNESSES:	BY:

STATE PLANE COORDINATES, IF ANY, SHOWN HEREON REFER TO APPLICABLE ZONE, NAD83 (2011).

(CERTIFICATIONS)

SIGNATURE OF WITNESS

PRINT NAME OF WITNESS

SIGNATURE OF WITNESS

PRINT NAME OF WITNESS

ACKNOWLEDGMENT STATE OF FLORIDA) COUNTY OF SARASOTA) SS

PETE WILLIAMS, CHAIRMAN

NOTICE
THIS PLAT, AS RECORED IN ITS GRAPHIC FORM, IS THE OFFICIAL DEPICTION OF THE SUBDIVIDED LANDS DESCRIBED HEREIN AND WILL IN NO CIRCUMSTANCES BE SUPPLANTED IN AUTHORITY BY ANY OTHER GRAPHIC OF DIGITAL FORM OF THE PLAT. THERE MAY BE ADDITIONAL RESTRICTIONS THAT ARE NOT RECORDED ON THE PLAT THAT MY BE FOUND IN THE PUBLIC RECORED OF THIS COUNTY.
THE PLAT PROPERTY IS SUBJECT TO THE DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS FOR VISTERA (THE "DECLARATION") AS SIMULTANEOUSLY RECORDED WITH THIS PLAT IN THE OFFICIAL RECORDS AS INSTRUMENT NUMBER
PUBLIC RECORDS OF SARASOTA COUNTY, FLORIDA.
THE FLOODPLAIN DELINEATION MAP IS RECORDED IN MISCELLANEOUS MAP BOOK	, PAGE   OF THE PUBLIC RECORDS OF SARASOTA COUNTY, FLORIDA.
OWNER RETAIN AND RESERVES OWNERSHIP OF ALL PROPERTY, EASEMENTS AND INTERESTS SET FORTH ON THIS PLAT THAT HAVE NOT OTHERWISE BEEN CONVEYED AND/OR DEDICATED TO ANOTHER PARTY.

RESERVATION OF EASEMENTS
LOT LINE EASEMENTS

THE FOREGOING CERTIFICATE OF ACCEPTANCE WAS ACKNOWLEDGED BEFORE ME THIS   	DAY OF
	, 2026, BY	, AS CHAIRMAN OF THE LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT ON BEHALF OF SAID DISTRICT AND WHO IS PERSONALLY KNOWN TO ME AND DID TAKE AN OATH.

SIGNATURE, NOTARY PUBLIC STATE OF FLORIDA

PRINTED NAME

UNLESS OTHERWISE INDICATED, EASEMENTS OF TEN FEET (10.0') IN WIDTH ALONG EACH FRONT LOT LINE AND EASEMENTS OF ONE FOOT (1.0') IN WIDTH ALONG EACH SIDE LOT LINE AND FIVE FEET (5.0') ALONG EACH REAR LOT LINE ARE HEREBY RESERVED AND CREATED FOR THE PURPOSE OF ACCOMMODATING SURFACE AND UNDERGROUND UTILITIES AND DRAINAGE. WHEN AN AREA GREATER THAN ONE (1) LOT IS DESIGNATED AND USED AS A BUILDING SITE, THE OUTSIDE BOUNDARY OF SAID SITE SHALL, UPON SUCH DESIGNATION, AUTOMATICALLY BE SUBJECT TO THE LOT LINE EASEMENTS RESERVED AND CREA TED HEREIN, SUCH THAT THE PRIOR LOT LINE EASEMENTS SHALL NO LONGER APPLY AND THE NEW LOT LINE EASEMENTS SHALL TAKE EFFECT ON THE NEW BUILDING SITE DEDICATION. SUCH EASEMENTS SHALL ALSO BE EASEMENTS FOR THE CONSTRUCTION, INSTALLATION, MAINTENANCE AND OPERATION OF THE TELECOMMUNICATION AND BROADBAND SERVICES, INCLUDING CABLE TELEVISION SERVICES, HOWEVER CABLE TELEVISION SHALL NOT INTERFERE WITH THE FACILITIES AND SERVICES OF ELECTRIC, TELEPHONE, GAS OR OTHER UTILITY.

ACKNOWLEDGMENT STATE OF FLORIDA) COUNTY OF SARASOTA) SS

MY COMMISSION EXPIRES: 	

BY: 	

SURVEYORS CERTIFICATE
PROFESSIONAL SURVEYOR AND MAPPER IN THE STA TE OF FLORIDA, HOLDING LICENSE NO. LS 7698, HEREBY CERTIFY THAT I AM ACTING ON BEHALF OF BRIGHAM/ALLEN LAND SURVEYING, LLC., A LIMITED LIABILITY COMPANY AUTHORIZED TO OFFER SERVICES OF REGISTERED SURVEYORS AND MAPPERS IN THE STAT OF FLORIDA HOLDING L.B. NO. 7898, THAT THIS PLAT IS A TRUE AND CORRECT REPRESENTATION OF THE LANDS SURVEYED, THAT THE SURVEY WAS MADE UNDER MY RESPONSIBLE DIRECTION AND SUPERVISION, THAT THE SURVEY DATA COMPLIES WITH ALL THE REQUIREMENTS OF CHAPTER 177, PART 1 OF THE FLORIDA STATUTES AND THAT THE PERMANENT REFERENCE MONUMENTS (PRM'S) WERE INSTALLED AS OF	 AND THE PERMANENT

I HEREBY CERTIFY THAT I HAVE REVIEWED THIS PLAT FOR CONFORMITY TO CHAPTER 177, PART 1, OF THE FLORIDA STATUTES, AND THAT I AM UNDER CONTRACT WITH THE APPROPRIATE LOCAL GOVERNING BODY AND ACTING HERETO AS AN AGENT OF THE CITY OF VENICE. THIS LIMITED CERTIFICATION AS TO FACIAL CONFORMITY WITH CHAPTER 177, PART 1, F.S. PLATTING IS NOT INTENDED TO BE AND SHOULD NOT CONSTRUED AS A CERTIFICATION OF THE ACCURACY OR QUALITY OF THE SURVEYING AND MAPPING REFLECTED ON THIS PLAT.

DATE: 		BY: 		 KEVIN R. MACMUNN
PROFESSIONAL SURVEYOR & MAPPER FLORIDA NUMBER: LS 7698

CONTROL POINTS (PCP'S), AND THE LOT CORNERS WILL BE INSTALLED WITHIN 1 YEAR FROM DATE OF RECORDING AND WILL BE CONFIRMED BY SURVEYORS AFFIDAVIT.

BRIGHAM/ALLEN LAND SURVEYING, LLC.

BY: 		 KEVIN R. MACMUNN
REGISTERED PROFESSIONAL SURVEYOR AND MAPPER FLORIDA LICENSE NO. LS 7698

Brigham/Allen Land Surveying, LLC
L.B. Number 7898 1215 Sarasota Center Blvd
Sarasota, FL 34240
Phone: (941) 493-4430
EMAIL: BrighamAllenSurveying@gmail.com
DRAWING FILE: 932666 VISTERA PHASE 2 PLAT.DWG

Exhibit C Legal Description

TRACT 300, VISTERA, PHASE 1, AS RECORDED IN PLAT BOOK 56, PAGES 420-457, OF THE PUBLIC RECORDS OF SARASOTA COUNTY, FLORIDA, LYING IN SECTION 34, TOWNSHIP 38 SOUTH, RANGE 19 EAST, CITY OF VENICE, SARASOTA COUNTY FLORIDA.

CONTAINING 41.8721 ACRES MORE OR LESS

Dated Date	06/24/2026
Delivery Date	06/24/2026

Note: Call Date: May 1, 2036

Sources:

Bond Proceeds:
Par Amount	5,740,000.00	
Original Issue Discount	-4,507.35	
	5,735,492.65	

Uses:		
Project Fund Deposits: Project Fund	
5,107,284.00	
Other Fund Deposits:
Capitalized Interest thru 11/1/2026	
109,906.15	
Debt Service Reserve Fund at 50% of MADS		197,422.50	
	307,328.65	
Delivery Date Expenses: Cost of Issuance	
206,080.00	
Underwriter's Discount		114,800.00	
	320,880.00	
	5,735,492.65	

Dated Date	06/24/2026	
Delivery Date	06/24/2026	
Last Maturity	05/01/2056	
Arbitrage Yield	5.548486%	
True Interest Cost (TIC)	5.732361%	
Net Interest Cost (NIC)	5.678022%	
All-In TIC	6.077651%	
Average Coupon	5.569737%	
Average Life (years)	19.195	
Duration of Issue (years)	11.247	
Par Amount	5,740,000.00	
Bond Proceeds	5,735,492.65	
Total Interest	6,136,733.65	
Net Interest	6,256,041.00	
Total Debt Service	11,876,733.65	
Maximum Annual Debt Service	394,845.00	
Average Annual Debt Service	397,843.50	
Underwriter's Fees (per $1000) Average Takedown
Other Fee	

20.000000	
Total Underwriter's Discount	20.000000	
Bid Price	97.921475	

Bond Component	Par Value	Price	Average Coupon	Average
Life	
Term Bond due 2030	355,000.00	100.000	4.000%	2.402	
Term Bond due 2046	2,400,000.00	100.000	5.300%	13.440	
Term Bond due 2056	2,985,000.00	99.849	5.700%	25.819	
	5,740,000.00			19.195	

	TIC		All-In TIC		Arbitrage
Yield	
Par Value
+ Accrued Interest
+ Premium (Discount)	5,740,000.00
-4,507.35		5,740,000.00
-4,507.35		5,740,000.00
-4,507.35	
- Underwriter's Discount	-114,800.00		-114,800.00			
Cost of Issuance Expense
Other Amounts			-206,080.00			
Target Value	5,620,692.65		5,414,612.65		5,735,492.65	
Target Date	06/24/2026		06/24/2026		06/24/2026	
Yield	5.732361%		6.077651%		5.548486%	

Bond Component	Maturity Date	CUSIP	Amount	Rate	Yield	Price	
Term Bond due 2030:	
05/01/2027		
85,000	
4.000%	
4.000%	
100.000	
	05/01/2028		85,000	4.000%	4.000%	100.000	
	05/01/2029		90,000	4.000%	4.000%	100.000	
	05/01/2030	51888T AF3		95,000	4.000%	4.000%	100.000	
			355,000				
Term Bond due 2046:	
05/01/2031		
100,000	
5.300%	
5.300%	
100.000	
	05/01/2032		105,000	5.300%	5.300%	100.000	
	05/01/2033		110,000	5.300%	5.300%	100.000	
	05/01/2034		115,000	5.300%	5.300%	100.000	
	05/01/2035		120,000	5.300%	5.300%	100.000	
	05/01/2036		130,000	5.300%	5.300%	100.000	
	05/01/2037		135,000	5.300%	5.300%	100.000	
	05/01/2038		140,000	5.300%	5.300%	100.000	
	05/01/2039		150,000	5.300%	5.300%	100.000	
	05/01/2040		155,000	5.300%	5.300%	100.000	
	05/01/2041		165,000	5.300%	5.300%	100.000	
	05/01/2042		175,000	5.300%	5.300%	100.000	
	05/01/2043		185,000	5.300%	5.300%	100.000	
	05/01/2044		195,000	5.300%	5.300%	100.000	
	05/01/2045		205,000	5.300%	5.300%	100.000	
	05/01/2046	51888T AH9		215,000	5.300%	5.300%	100.000	
			2,400,000				
Term Bond due 2056:	
05/01/2047		
230,000	
5.700%	
5.710%	
99.849	
	05/01/2048		240,000	5.700%	5.710%	99.849	
	05/01/2049		255,000	5.700%	5.710%	99.849	
	05/01/2050		270,000	5.700%	5.710%	99.849	
	05/01/2051		285,000	5.700%	5.710%	99.849	
	05/01/2052		305,000	5.700%	5.710%	99.849	
	05/01/2053		320,000	5.700%	5.710%	99.849	
	05/01/2054		340,000	5.700%	5.710%	99.849	
	05/01/2055		360,000	5.700%	5.710%	99.849	
	05/01/2056	51888T AJ5		380,000	5.700%	5.710%	99.849	
			2,985,000				
			5,740,000				

Dated Date	06/24/2026		
Delivery Date	06/24/2026		
First Coupon	11/01/2026		
Par Amount	5,740,000.00		
Original Issue Discount	-4,507.35		
Production	5,735,492.65	99.921475%	
Underwriter's Discount	-114,800.00	-2.000000%	
Purchase Price Accrued Interest	5,620,692.65	97.921475%	
Net Proceeds	5,620,692.65		

Period
Ending	Principal	Coupon	Interest	Debt Service	
11/01/2026			109,906.15	109,906.15	
11/01/2027	85,000	4.000%	309,845.00	394,845.00	
11/01/2028	85,000	4.000%	306,445.00	391,445.00	
11/01/2029	90,000	4.000%	302,945.00	392,945.00	
11/01/2030	95,000	4.000%	299,245.00	394,245.00	
11/01/2031	100,000	5.300%	294,695.00	394,695.00	
11/01/2032	105,000	5.300%	289,262.50	394,262.50	
11/01/2033	110,000	5.300%	283,565.00	393,565.00	
11/01/2034	115,000	5.300%	277,602.50	392,602.50	
11/01/2035	120,000	5.300%	271,375.00	391,375.00	
11/01/2036	130,000	5.300%	264,750.00	394,750.00	
11/01/2037	135,000	5.300%	257,727.50	392,727.50	
11/01/2038	140,000	5.300%	250,440.00	390,440.00	
11/01/2039	150,000	5.300%	242,755.00	392,755.00	
11/01/2040	155,000	5.300%	234,672.50	389,672.50	
11/01/2041	165,000	5.300%	226,192.50	391,192.50	
11/01/2042	175,000	5.300%	217,182.50	392,182.50	
11/01/2043	185,000	5.300%	207,642.50	392,642.50	
11/01/2044	195,000	5.300%	197,572.50	392,572.50	
11/01/2045	205,000	5.300%	186,972.50	391,972.50	
11/01/2046	215,000	5.300%	175,842.50	390,842.50	
11/01/2047	230,000	5.700%	163,590.00	393,590.00	
11/01/2048	240,000	5.700%	150,195.00	390,195.00	
11/01/2049	255,000	5.700%	136,087.50	391,087.50	
11/01/2050	270,000	5.700%	121,125.00	391,125.00	
11/01/2051	285,000	5.700%	105,307.50	390,307.50	
11/01/2052	305,000	5.700%	88,492.50	393,492.50	
11/01/2053	320,000	5.700%	70,680.00	390,680.00	
11/01/2054	340,000	5.700%	51,870.00	391,870.00	
11/01/2055	360,000	5.700%	31,920.00	391,920.00	
11/01/2056	380,000	5.700%	10,830.00	390,830.00	
	5,740,000		6,136,733.65	11,876,733.65	

Period Ending	Principal	Coupon	Interest	Debt Service	Annual Debt Service	
11/01/2026			109,906.15	109,906.15	109,906.15	
05/01/2027	85,000	4.000%	155,772.50	240,772.50		
11/01/2027			154,072.50	154,072.50	394,845.00	
05/01/2028	85,000	4.000%	154,072.50	239,072.50		
11/01/2028			152,372.50	152,372.50	391,445.00	
05/01/2029	90,000	4.000%	152,372.50	242,372.50		
11/01/2029			150,572.50	150,572.50	392,945.00	
05/01/2030	95,000	4.000%	150,572.50	245,572.50		
11/01/2030			148,672.50	148,672.50	394,245.00	
05/01/2031	100,000	5.300%	148,672.50	248,672.50		
11/01/2031			146,022.50	146,022.50	394,695.00	
05/01/2032	105,000	5.300%	146,022.50	251,022.50		
11/01/2032			143,240.00	143,240.00	394,262.50	
05/01/2033	110,000	5.300%	143,240.00	253,240.00		
11/01/2033			140,325.00	140,325.00	393,565.00	
05/01/2034	115,000	5.300%	140,325.00	255,325.00		
11/01/2034			137,277.50	137,277.50	392,602.50	
05/01/2035	120,000	5.300%	137,277.50	257,277.50		
11/01/2035			134,097.50	134,097.50	391,375.00	
05/01/2036	130,000	5.300%	134,097.50	264,097.50		
11/01/2036			130,652.50	130,652.50	394,750.00	
05/01/2037	135,000	5.300%	130,652.50	265,652.50		
11/01/2037			127,075.00	127,075.00	392,727.50	
05/01/2038	140,000	5.300%	127,075.00	267,075.00		
11/01/2038			123,365.00	123,365.00	390,440.00	
05/01/2039	150,000	5.300%	123,365.00	273,365.00		
11/01/2039			119,390.00	119,390.00	392,755.00	
05/01/2040	155,000	5.300%	119,390.00	274,390.00		
11/01/2040			115,282.50	115,282.50	389,672.50	
05/01/2041	165,000	5.300%	115,282.50	280,282.50		
11/01/2041			110,910.00	110,910.00	391,192.50	
05/01/2042	175,000	5.300%	110,910.00	285,910.00		
11/01/2042			106,272.50	106,272.50	392,182.50	
05/01/2043	185,000	5.300%	106,272.50	291,272.50		
11/01/2043			101,370.00	101,370.00	392,642.50	
05/01/2044	195,000	5.300%	101,370.00	296,370.00		
11/01/2044			96,202.50	96,202.50	392,572.50	
05/01/2045	205,000	5.300%	96,202.50	301,202.50		
11/01/2045			90,770.00	90,770.00	391,972.50	
05/01/2046	215,000	5.300%	90,770.00	305,770.00		
11/01/2046			85,072.50	85,072.50	390,842.50	
05/01/2047	230,000	5.700%	85,072.50	315,072.50		
11/01/2047			78,517.50	78,517.50	393,590.00	
05/01/2048	240,000	5.700%	78,517.50	318,517.50		
11/01/2048			71,677.50	71,677.50	390,195.00	
05/01/2049	255,000	5.700%	71,677.50	326,677.50		
11/01/2049			64,410.00	64,410.00	391,087.50	
05/01/2050	270,000	5.700%	64,410.00	334,410.00		
11/01/2050			56,715.00	56,715.00	391,125.00	
05/01/2051	285,000	5.700%	56,715.00	341,715.00		
11/01/2051			48,592.50	48,592.50	390,307.50	
05/01/2052	305,000	5.700%	48,592.50	353,592.50		
11/01/2052			39,900.00	39,900.00	393,492.50	
05/01/2053	320,000	5.700%	39,900.00	359,900.00		
11/01/2053			30,780.00	30,780.00	390,680.00	
05/01/2054	340,000	5.700%	30,780.00	370,780.00		
11/01/2054			21,090.00	21,090.00	391,870.00	
05/01/2055	360,000	5.700%	21,090.00	381,090.00		
11/01/2055			10,830.00	10,830.00	391,920.00	
05/01/2056	380,000	5.700%	10,830.00	390,830.00		
11/01/2056					390,830.00	
	5,740,000		6,136,733.65	11,876,733.65	11,876,733.65	

Period	Total	Capitalized Interest thru	Debt Service Reserve Fund	Net	
Ending	Debt Service	11/1/2026	at 50% of MADS	Debt Service	
11/01/2026	109,906.15	109,906.15			
11/01/2027	394,845.00			394,845.00	
11/01/2028	391,445.00			391,445.00	
11/01/2029	392,945.00			392,945.00	
11/01/2030	394,245.00			394,245.00	
11/01/2031	394,695.00			394,695.00	
11/01/2032	394,262.50			394,262.50	
11/01/2033	393,565.00			393,565.00	
11/01/2034	392,602.50			392,602.50	
11/01/2035	391,375.00			391,375.00	
11/01/2036	394,750.00			394,750.00	
11/01/2037	392,727.50			392,727.50	
11/01/2038	390,440.00			390,440.00	
11/01/2039	392,755.00			392,755.00	
11/01/2040	389,672.50			389,672.50	
11/01/2041	391,192.50			391,192.50	
11/01/2042	392,182.50			392,182.50	
11/01/2043	392,642.50			392,642.50	
11/01/2044	392,572.50			392,572.50	
11/01/2045	391,972.50			391,972.50	
11/01/2046	390,842.50			390,842.50	
11/01/2047	393,590.00			393,590.00	
11/01/2048	390,195.00			390,195.00	
11/01/2049	391,087.50			391,087.50	
11/01/2050	391,125.00			391,125.00	
11/01/2051	390,307.50			390,307.50	
11/01/2052	393,492.50			393,492.50	
11/01/2053	390,680.00			390,680.00	
11/01/2054	391,870.00			391,870.00	
11/01/2055	391,920.00			391,920.00	
11/01/2056	390,830.00		197,422.50	193,407.50	
	11,876,733.65	109,906.15	197,422.50	11,569,405.00	

Total	Capitalized Interest thru	Debt Service
Reserve Fund	Net	
Date	Debt Service	11/1/2026 at 50% of MADS	Debt Service	
11/01/2026	109,906.15	109,906.15			
05/01/2027	240,772.50			240,772.50	
11/01/2027	154,072.50			154,072.50	
05/01/2028	239,072.50			239,072.50	
11/01/2028	152,372.50			152,372.50	
05/01/2029	242,372.50			242,372.50	
11/01/2029	150,572.50			150,572.50	
05/01/2030	245,572.50			245,572.50	
11/01/2030	148,672.50			148,672.50	
05/01/2031	248,672.50			248,672.50	
11/01/2031	146,022.50			146,022.50	
05/01/2032	251,022.50			251,022.50	
11/01/2032	143,240.00			143,240.00	
05/01/2033	253,240.00			253,240.00	
11/01/2033	140,325.00			140,325.00	
05/01/2034	255,325.00			255,325.00	
11/01/2034	137,277.50			137,277.50	
05/01/2035	257,277.50			257,277.50	
11/01/2035	134,097.50			134,097.50	
05/01/2036	264,097.50			264,097.50	
11/01/2036	130,652.50			130,652.50	
05/01/2037	265,652.50			265,652.50	
11/01/2037	127,075.00			127,075.00	
05/01/2038	267,075.00			267,075.00	
11/01/2038	123,365.00			123,365.00	
05/01/2039	273,365.00			273,365.00	
11/01/2039	119,390.00			119,390.00	
05/01/2040	274,390.00			274,390.00	
11/01/2040	115,282.50			115,282.50	
05/01/2041	280,282.50			280,282.50	
11/01/2041	110,910.00			110,910.00	
05/01/2042	285,910.00			285,910.00	
11/01/2042	106,272.50			106,272.50	
05/01/2043	291,272.50			291,272.50	
11/01/2043	101,370.00			101,370.00	
05/01/2044	296,370.00			296,370.00	
11/01/2044	96,202.50			96,202.50	
05/01/2045	301,202.50			301,202.50	
11/01/2045	90,770.00			90,770.00	
05/01/2046	305,770.00			305,770.00	
11/01/2046	85,072.50			85,072.50	
05/01/2047	315,072.50			315,072.50	
11/01/2047	78,517.50			78,517.50	
05/01/2048	318,517.50			318,517.50	
11/01/2048	71,677.50			71,677.50	
05/01/2049	326,677.50			326,677.50	
11/01/2049	64,410.00			64,410.00	
05/01/2050	334,410.00			334,410.00	
11/01/2050	56,715.00			56,715.00	
05/01/2051	341,715.00			341,715.00	
11/01/2051	48,592.50			48,592.50	
05/01/2052	353,592.50			353,592.50	
11/01/2052	39,900.00			39,900.00	
05/01/2053	359,900.00			359,900.00	
11/01/2053	30,780.00			30,780.00	
05/01/2054	370,780.00			370,780.00	
11/01/2054	21,090.00			21,090.00	
05/01/2055	381,090.00			381,090.00	
11/01/2055	10,830.00			10,830.00	
05/01/2056	390,830.00		197,422.50	193,407.50	
	11,876,733.65	109,906.15	197,422.50	11,569,405.00	

Period Ending	Proposed Principal	Proposed Debt Service	Total Adj Debt Service	Revenue Constraints	Unused Revenues	Debt Service Coverage	
11/01/2026		109,906	109,906		-109,906		
11/01/2027	85,000	394,845	394,845	395,019	174	100.04%	
11/01/2028	85,000	391,445	391,445	395,019	3,574	100.91%	
11/01/2029	90,000	392,945	392,945	395,019	2,074	100.53%	
11/01/2030	95,000	394,245	394,245	395,019	774	100.20%	
11/01/2031	100,000	394,695	394,695	395,019	324	100.08%	
11/01/2032	105,000	394,263	394,263	395,019	757	100.19%	
11/01/2033	110,000	393,565	393,565	395,019	1,454	100.37%	
11/01/2034	115,000	392,603	392,603	395,019	2,417	100.62%	
11/01/2035	120,000	391,375	391,375	395,019	3,644	100.93%	
11/01/2036	130,000	394,750	394,750	395,019	269	100.07%	
11/01/2037	135,000	392,728	392,728	395,019	2,292	100.58%	
11/01/2038	140,000	390,440	390,440	395,019	4,579	101.17%	
11/01/2039	150,000	392,755	392,755	395,019	2,264	100.58%	
11/01/2040	155,000	389,673	389,673	395,019	5,347	101.37%	
11/01/2041	165,000	391,193	391,193	395,019	3,827	100.98%	
11/01/2042	175,000	392,183	392,183	395,019	2,837	100.72%	
11/01/2043	185,000	392,643	392,643	395,019	2,377	100.61%	
11/01/2044	195,000	392,573	392,573	395,019	2,447	100.62%	
11/01/2045	205,000	391,973	391,973	395,019	3,047	100.78%	
11/01/2046	215,000	390,843	390,843	395,019	4,177	101.07%	
11/01/2047	230,000	393,590	393,590	395,019	1,429	100.36%	
11/01/2048	240,000	390,195	390,195	395,019	4,824	101.24%	
11/01/2049	255,000	391,088	391,088	395,019	3,932	101.01%	
11/01/2050	270,000	391,125	391,125	395,019	3,894	101.00%	
11/01/2051	285,000	390,308	390,308	395,019	4,712	101.21%	
11/01/2052	305,000	393,493	393,493	395,019	1,527	100.39%	
11/01/2053	320,000	390,680	390,680	395,019	4,339	101.11%	
11/01/2054	340,000	391,870	391,870	395,019	3,149	100.80%	
11/01/2055	360,000	391,920	391,920	395,019	3,099	100.79%	
11/01/2056	380,000	390,830	390,830	395,019	4,189	101.07%	
	5,740,000	11,876,734	11,876,734	11,850,570	-26,164		

Cost of Issuance	$/1000	Amount	
District Manager	1.74216	10,000.00	
Financial Advisory	2.61324	15,000.00	
Assessment Consultant/Disclosure Assistant	4.70383	27,000.00	
Bond Counsel	9.05923	52,000.00	
District Engineer	0.18815	1,080.00	
District Counsel	6.09756	35,000.00	
Underwriter's Counsel	7.83972	45,000.00	
Trustee	1.17596	6,750.00	
Trustee's Counsel	1.17596	6,750.00	
Printing and Distribution	0.43554	2,500.00	
Contingency	0.87108	5,000.00	
	35.90244	206,080.00	

Dated Date	06/24/2026
Delivery Date	06/24/2026

Bond Component	Date	Principal	Coupon	Price	Issue Price	Redemption at Maturity	
Term Bond due 2030:	
05/01/2027	
85,000.00	
4.000%	
100.000	
85,000.00	
85,000.00	
	05/01/2028	85,000.00	4.000%	100.000	85,000.00	85,000.00	
	05/01/2029	90,000.00	4.000%	100.000	90,000.00	90,000.00	
	05/01/2030	95,000.00	4.000%	100.000	95,000.00	95,000.00	
Term Bond due 2046:	
05/01/2031	
100,000.00	
5.300%	
100.000	
100,000.00	
100,000.00	
	05/01/2032	105,000.00	5.300%	100.000	105,000.00	105,000.00	
	05/01/2033	110,000.00	5.300%	100.000	110,000.00	110,000.00	
	05/01/2034	115,000.00	5.300%	100.000	115,000.00	115,000.00	
	05/01/2035	120,000.00	5.300%	100.000	120,000.00	120,000.00	
	05/01/2036	130,000.00	5.300%	100.000	130,000.00	130,000.00	
	05/01/2037	135,000.00	5.300%	100.000	135,000.00	135,000.00	
	05/01/2038	140,000.00	5.300%	100.000	140,000.00	140,000.00	
	05/01/2039	150,000.00	5.300%	100.000	150,000.00	150,000.00	
	05/01/2040	155,000.00	5.300%	100.000	155,000.00	155,000.00	
	05/01/2041	165,000.00	5.300%	100.000	165,000.00	165,000.00	
	05/01/2042	175,000.00	5.300%	100.000	175,000.00	175,000.00	
	05/01/2043	185,000.00	5.300%	100.000	185,000.00	185,000.00	
	05/01/2044	195,000.00	5.300%	100.000	195,000.00	195,000.00	
	05/01/2045	205,000.00	5.300%	100.000	205,000.00	205,000.00	
	05/01/2046	215,000.00	5.300%	100.000	215,000.00	215,000.00	
Term Bond due 2056:	
05/01/2047	
230,000.00	
5.700%	
99.849	
229,652.70	
230,000.00	
	05/01/2048	240,000.00	5.700%	99.849	239,637.60	240,000.00	
	05/01/2049	255,000.00	5.700%	99.849	254,614.95	255,000.00	
	05/01/2050	270,000.00	5.700%	99.849	269,592.30	270,000.00	
	05/01/2051	285,000.00	5.700%	99.849	284,569.65	285,000.00	
	05/01/2052	305,000.00	5.700%	99.849	304,539.45	305,000.00	
	05/01/2053	320,000.00	5.700%	99.849	319,516.80	320,000.00	
	05/01/2054	340,000.00	5.700%	99.849	339,486.60	340,000.00	
	05/01/2055	360,000.00	5.700%	99.849	359,456.40	360,000.00	
	05/01/2056	380,000.00	5.700%	99.849	379,426.20	380,000.00	
		5,740,000.00			5,735,492.65	5,740,000.00	

	Maturity Date	Interest
Rate	Issue Price	Stated Redemption at Maturity	Weighted Average Maturity	
Yield	
Final Maturity	05/01/2056	5.700%	379,426.20	380,000.00			
Entire Issue			5,735,492.65	5,740,000.00	19.1899	5.5485%	

Proceeds used for accrued interest	
0.00	
Proceeds used for bond issuance costs (including underwriters' discount)	320,880.00	
Proceeds used for credit enhancement	0.00	
Proceeds allocated to reasonably required reserve or replacement fund	197,422.50	

Laurel Road Community Development District

Update on the Laurel Widening Project

From: Bobbi Claybrooke <bclaybrooke@amengfl.com>
Sent: Friday, May 29, 2026 3:20 PM
To: David C Weaver <dcweaver@cmroadbuilders.com>; Dan Weaver <dweaver@cmroadbuilders.com>; Adam Robson <arobson@cmroadbuilders.com>; Kara Coggins <kcoggins@ajaxpaving.com>; Jessica Canon <jcanon@ajaxpaving.com>; Kevin Fulcher <kfulcher1@demesite.com>; alex@demesite.com; K.C. Coulthart <kccoulthart@mackenzieco.com>; Scott Huber <shuber@mackenzieco.com>; Ryan Schwarz
<ryan@firethornbuilt.com>; James Thomas <james@firethornbuilt.com>; Gregg Marsh
<gregg@forsbergconstruction.com>; Bruce Wendorf <bruce@forsbergconstruction.com>; Keith Ravazzoli <keith@derrcorp.com>; Ryan Hirstein <ryan@derrcorp.com>; Ed Hicks
<hickse@gatorgap.com>; hicksk@gatorgap.com; Peter Davis <davisp@gatorgap.com>; Greg Baier
<baierg@gatorgap.com>; Chris LaFace <claface@ripaconstruction.com>; Adrian Galloway
<agalloway@ripaconstruction.com>; Fidel Garcia <fgarcia@ryangolf.com>; Jason Coffman
<jcoffman@ryangolf.com>; Don Woodruff <donw@woodruffandsons.com>; Chad Wakeman
<chadw@woodruffandsons.com>; Rick Hoffman <rickh@woodruffandsons.com>
Cc: Erin Childers <echilders@amengfl.com>; Jared (Lorraine Road) Zech <jared.zech@stantec.com>; Harry Russom <hrussom@nealcommunities.com>; Vivian Carvalho <carvalhov@pfm.com>; 'Dale Weidemiller' <dweidemi@tampabay.rr.com>; John Wollard <jwollard@nealcommunities.com>; Roman, Danny <danny.roman@stantec.com>
Subject: Laurel Road Widening

ALERT: This message is from an external source.BE CAUTIOUS before clicking any link or attachment

Ladies and Gentlemen,

The bid review committee for the Laurel Road Widening Project has met and has reviewed the bids submitted on August 22nd. Based on the budget available for this project and bid review committee consultation, we have made the decision to reject all bids. We intend to revisit the overall bid package and intend to re-advertise for bid again on or about August 3, 2026.

Bobbi Claybrooke, PE
President and Managing Engineer
AM Engineering, LLC
8340 Consumer Court, Sarasota, FL 34240
Office: (941) 377-9178 ext. 204 | Direct: (941) 867-7799 | BClaybrooke@amengfl.com

Staff Reports

Field Services Operation Manager

Vistera

June Story board
Field Operations and Maintenance

Summary

Very dry month for landscaping but Impact is doing a good job maintaining the site. More plantings will take place this month.
Lifestyle director brought on E-Bike maintenance vendor.
Stain on the pool loungers, issues with firepits, and small items around the amenity will be the focus for June.

Community Photos

Foged out window, leaning

sign, sidewalk crack

		

		

	

Laurel Road Community Development District

Lifestyle Director

Monthly Summary Report
May 2026

Submitted by Sydney Pollock, Lifestyle Director &
Alex Murphy, Sr. Regional Director

Featured Lifestyle Programs & Events

CINCO DE MAYO NACHOS & TEQUILA
Tuesday, May 5 th 6 : 00 pm - 8 : 00 pm

Cinco de Mayo Nachos & Tequila brought 50–60 residents together for a festive 21+ evening at the Club. Attendees enjoyed a build-your-own nacho bar with a variety of toppings and margaritas in tropical, watermelon, strawberry, and classic lime flavors, with an optional salted rim. The event provided a fun and flavorful way for neighbors to celebrate Cinco de Mayo, socialize, and enjoy an evening of great food and drinks.

FOOD TRUCK VISIT: COUSINS MAINE LOBSTER
Wednesday, May 6 th 4 : 00 pm- 8 : 00 pm
Residents and guests enjoyed a visit from Cousins Maine Lobster, conveniently parked in The Club parking lot. The event was promoted through the food truck’s business Facebook page, helping attract additional visitors and support the vendor. Attendees had the opportunity to purchase a variety of menu favorites, including lobster rolls, lobster bisque, lobster tots, lobster quesadillas, and more, while gathering with neighbors and enjoying a unique dining experience close to home.

Featured Lifestyle Programs & Events

MOTHER’ S DAY BRUNCH
Saturday, May 9 th 10 : 00 am- 12 : 00 pm
Vistera residents and under-contract homeowners enjoyed a delightful Mother’s Day Brunch featuring a continental breakfast spread of pastries, fresh fruit, yogurt, coffee, and refreshing “Mom-osas.” Little ones created handmade paper lilies as a heartfelt gift for Mom, adding a special touch to the celebration. With 25 attendees, the event provided a wonderful opportunity for families to connect while honoring the mothers and mother figures in our community.

LA DOLCE VISTERA: THE COMPANION
COLLECTIVE
Saturday, May 16 th 5 : 30 pm - 7 : 30 pm
As part of our ongoing La Dolce Vistera quarterly mini market series, The Companion Collective brought together residents and their four-legged friends for an evening of fun, shopping, and socializing. With an estimated 25–30 attendees, the event featured a complimentary Yappy Hour and wine tasting provided by Back Porch Brewing Co., delicious dog treats available from Lit Dog Treats, and dog-friendly shampoo bars from S&B Soapery.
Residents also had the option to participate in a $7 toy-making workshop hosted by All Ears Dog Training and enjoyed a complimentary dog bandana decorating station hosted by the Lifestyle Team. The event provided a wonderful opportunity for residents and their pups to mingle, support local vendors, and connect with neighbors.

CAMP ADVENTURE:
MEMORIAL DAY EXPEDITION
Monday, May 25 th 11 : 00 am - 9 : 00 pm
Camp Adventure: Memorial Day Expedition brought residents together for a day of camp-themed fun, friendly competition, and community connection. The Lifestyle Team offered a variety of family-friendly and adult-only activities throughout the day, allowing attendees to participate in their favorites. Highlights included a camp-themed scavenger hunt, a visit from Simply Greek by Wynberry food truck, Adult and Kids Splash & Solve Trivia, a sponge relay race, water balloon toss, paracord bracelet craft, and s’mores on the patio. The event welcomed approximately 40 attendees throughout the day, with 10–15 participants joining each scheduled activity.

Lifestyle Program Attendance

DATE(S)	PROGRAM DETAILS	ADDITIONAL NOTES	
Tuesday, May 5th	Tuesday Card & Tile Club	Club Meeting	
Tuesday, May 5th	Cinco de Mayo Nachos & Tequila	21+ Event; estimated 50-60 attendees	
Wednesday, May 6th	Food Truck Visit: Cousins Maine Lobster	Estimated 10 families purchased	
Wednesday, May 6th	Bunco Club	Club Meeting	
Saturday, May 9th	Mother’s Day Brunch	Estimated 25 attendees	
Tuesday, May 12th	Tuesday Card & Tile Club	Club Meeting	
Saturday, May 16th	La Dolce Vistera: The Companion Collective	Estimated 25-30 attendees	
Tuesday, May 19th	Tuesday Card & Tile Club	Club Meeting	
Wednesday, May 20th	Vistera Page Turners Club	Club Meeting	
Monday, May 25th	Camp Adventure: Memorial Day Expedition	All day event; estimated 40 attendees	
Tuesday, May 26th	Tuesday Card & Tile Club	Club Meeting	

SPACE

Fitness Center Club Lounge Game Room Pool
Kids Corner

E-Bikes Rentals

AVERAGE BY DAY

9-16 Times

1-4 Times

1-4 Times

9-16 Times

1-4 Times

1-4 Times per month

Facility Utilization

		

		

		

		

Private Facility Rental By Room
Club Lounge Game Room

Monthly Rental Occurrence

0

1-4 Times

Approved Rental Requests in May 1

SPACE

Amenity TVs

Outdoor Firepit - Event Lawn

Pool Deck

Grill - Pool Deck

Emergency Phone

Screened-In Patio

ITEM

Rokus removed from Moyps. Control4 no longer used to change channels, only ambient music. TVs turn on automatically, but channels changed with Roku remotes. Wall mounted remote holders ordered.

4 new white adirondack chairs and firepit arrived from NLN. Chairs and firepit assembled by Amenity Maintenance Specialist, Ati.

Pool deck chairs were turning a rust orange color. Pool was closed temporarily, so Daystar could pressure wash them with a combination of degreaser and bleach.

The grill ignition was not working. Battery located and replaced.

Upon calling, emergency phone does not connect to any respresentative or company. Field Services working to resolve.

Door hinge broke off and was missing two screws. Replacements purchased and door was fixed by Ati.

STATUS

Completed

Completed

Completed

Completed

Requested

Completed

Facility Operations & Maintenance

			

			

SPACE

Amenity Fire Extinguishers

E-Bike Maintenance

Path to Outdoor Fireplace

Holiday Lights

Kitchen/Operations

E-Bikes

Pool/Club Exterior

ITEM

With the help of Field Services, new contract was acquired with Pye Barker to perform fire extinguisher inspections. Pye Barker came onsite to renew tags on 5/28/26 and discovered 2 fire extinguishers must be added to outdoor spaces at The Club. Awaiting proposal approval.
With approval from Field Services, new agreement acquired with Voltaire E-Bikes to provide twice yearly full service tune ups to all E-Bikes.
Crack observed in sidewalk between E-Bikes and outdoor fireplace. Field Services notified.

Proposal for 2026 holiday lights signed by Lifestyle Director. Working with Land Development to install another outlet at the Border Rd gates.

Florida Sales tax certificate acquired. Lifestyle Team and NLN Marketing may now sell Vistera mugs and future merchanise.

Aventon brand water bottle holders and mirrors purchased for E-Bikes. Ati will install the new accessories on the bikes.
Increased bug presence in the pool and exterior of the building. S&G Pools asked to raise water level and vauum the pool as bugs are accumulating quickly. When time allows, Lifestyle team skims bugs in
between pool tech visits.

STATUS

Awaiting Approval

Completed

Requested

Completed

Completed

In Progress

Completed

Facility Operations & Maintenance Cont.

			

			

			

FEEDBACK

Positive

Positive

Positive

Positive

COMMENT

Sydney spoke with residents Robert and Michelle B., who were incredibly complimentary of the Lifestyle team and specially Ati. They shared Ati is “so nice!” They also shared they are very pleased with the upkeep of the amenities. Both Robert and Michelle had questions about speeding and the vehicular gates.

NLN Marketing Team received a 100% positive rating from a 7-month new resident survey, from resident Sally B. Direct quote: “Sydney is very organized and kind.”

Resident Winola D., was struggling with her Proptia app glitching. Sydney put in a ticket to Safetouch, and Rob Franco from the company was able to call Winola. Her app issue was resolved, and Rob stated “You are very lucky to have Sydney onsite, she’s great.” Winola came to tell Sydney she could not agree more with Rob’s comments and to thank her for resoving her app issues. “
Resident Kathy K. expressed concerns regarding the pool conditions after noticing a low water level and the presence of bugs. Following coordination with S&G Pools to address and resolve the issue, Kathy shared the following feedback: “Thank you, Sydney, for all
your efforts in implementing the changes to the pool conditions. The pool was pristine this morning!”

ACTION TAKEN

Sydney thanked both residents for their kind words, and echoed just how wonderful Ati is. Sydney also let the residents know that the CDD would be the party to reach out to regarding their speeding concerns, and mentioned they can attend meetings as well.

Review was forwarded on to Lifestyle Team. Sydney will throughly thank Sally when she sees her next.

Sydney shared with Winola her kind words made her day, and thanked Rob over at SafeTouch as well.

Sydney thanked Kathy and continues to monitor the pool amid increased bug presence and resident usage.

Customer Service & Staffing

			

			

COMMUNITY IN ACTION

PROGRAM

Live! On the Loggia

Design with Wine: Painted Citrus Serving Trays Margaritaville Mixer
Father’s Day Pints & Pops

Summer Kickoff Party

STATUS
June Event June Event June Event June Event June Event

CURRENT ACTION ITEMS

Hire and Onboard Community Relations Associate - Ongoing

New Outdoor Firepit

RESPONSIBILITY

Sydney is looking for to hire an individual that can assist with Resident Services, prospect tours and administrative needs on weekends and when she is out of office.

The Lifestyle Team is building and arranging new outdoor furniture for the newly paved firepit area behind the pool, enhancing the overall functionality and guest experience of the space. The team is also collaborating with NLN Marketing on updated signage to clearly communicate firepit rules and regulations.

DUE DATE

Ongoing

June 30th

Forecast

	June 5th	
	June 10th	
	June 12th	
	June 20th	
	June 27th	

			

Laurel Road Community Development District

AUDITOR SELECTION COMMITTEE MEETING

LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT REQUEST FOR PROPOSALS FOR ANNUAL AUDIT SERVICES

The Laurel Road Community Development District hereby requests proposals for annual financial auditing services. The proposal must provide for the auditing of the District’s financial records for the fiscal year ending September 30, 2026, with an option for two
(2) additional annual renewals. The District is a local unit of special-purpose government created under Chapter 190, Florida Statutes, for the purpose of financing, constructing, and maintaining public infrastructure. The District is located in Sarasota County and has an operating budget of approximately $866,511.37. The final contract will require that, among other things, the audit for Fiscal Year 2026 be completed no later than June 1, 2027.
Each auditing entity submitting a proposal must be authorized to do business in Florida; hold all applicable state and federal professional licenses in good standing, including but not limited to a license under Chapter 473, Florida Statutes; and be qualified to conduct audits in accordance with “Government Auditing Standards,” as adopted by the Florida Board of Accountancy. Audits shall be conducted in accordance with Florida law and particularly Section 218.39, Florida Statutes, and the rules of the Florida Auditor General.
Proposal packages, which include additional qualification requirements, evaluation criteria and instructions to proposers, are available from the District Manager at the address and telephone number listed below.

Proposers must provide three (3) hard copies of their proposal and one (1) electronic copy (flash drive) to Vivian Carvalho, District Manager, located at 3501 Quadrangle Boulevard, Suite 270, Orlando, FL 32817 in an envelope marked on the outside “Auditing Services – Laurel Road Community Development District.” Proposals must be received by July 29, 2026, at 5:00 p.m., at the office of the District Manager. Please direct all questions regarding this Request for Proposals to the District Manager, who can be reached at (407) 723-5900.
Any protest regarding the terms of this Notice, or the proposal packages on file with the District Manager, must be filed in writing at the offices of the District Manager within seventy-two (72) calendar hours (excluding weekends) after publication of this Notice. The formal protest setting forth with particularity the facts and law upon which the protest is based shall be filed within seven (7) calendar days after the initial notice of protest was filed. Failure to timely file a notice of protest or failure to timely file a formal written protest shall constitute a waiver of any right to object or protest with respect to aforesaid Notice or proposal package pro visions.

Vivian Carvalho District Manager

RUN DATE: 	

Laurel Road Community Development District Request for Proposals

District Auditing Services for Fiscal Year 2026
Sarasota County, Florida
Instructions to Proposers

SECTION 1.  DUE DATE. Sealed proposals must be received no later than July 29, 2026, at 5:00 p.m., at the offices of the District Manager, PFM Management Services LLC., located at 3501 Quadrangle Boulevard, Suite 270, Orlando, FL 32817.

Section 2. Familiarity with the Law. By submitting a proposal, the Proposer is assumed to be familiar with all federal, state, and local laws, ordinances, rules and regulations that in any manner affect the work. Ignorance on the part of the Proposer will in no way relieve it from responsibility to perform the work covered by the proposal in compliance with all such laws, ordinances and regulations.
Section 3.  Qualifications of Proposer. The contract, if awarded, will only be awarded to a responsible Proposer who is qualified by experience and licensing to do the work specified herein. The Proposer shall submit with its proposal satisfactory evidence of experience in similar work and show that it is fully prepared to complete the work to the satisfaction of the District.

Section 4.	Submission of Only One Proposal.	Proposers shall be
disqualified, and their proposals rejected if the District has reason to believe that collusion may exist among the Proposers, the Proposer has defaulted on any previous contract or is in arrears on any previous or existing contract, or for failure to demonstrate proper licensure and business organization.
Section 5.  Submission of Proposal. Each Proposer shall submit three (3) hard copies and one (1) electronic copy (flash drive) of the Proposal Documents (defined below), and other requested attachments at the time and place indicated herein, which shall be enclosed in an opaque sealed envelope, marked with the title “Auditing Services – Laurel Road Community Development District” on the face of it.

Section 6. Modification and Withdrawal. Proposals may be modified or withdrawn by an appropriate document duly executed and delivered to the place where proposals are to be submitted at any time prior to the time and date the proposals are due. No proposal may be withdrawn after opening for a period of ninety (90) days.

Section 7.  Proposal Documents. The proposal documents shall consist of the notice announcing the request for proposals, these instructions, the evaluation criteria and a proposal with all required documentation pursuant to Section 12 of these instructions (the “Proposal Documents”).

Section 8.  Proposal. In making its proposal, each Proposer represents that it has read and understands the Proposal Documents and that the proposal is made in accordance therewith.

Section 9.  Basis of Award/Right to Reject. The District reserves the right to reject any and all proposals, make modifications to the work, and waive any informalities or irregularities in proposals as it is deemed in the best interests of the District.
Section 10. Contract Award. Within fourteen (14) days of receipt of the Notice of Award from the District, the Proposer shall enter into and execute a contract or engagement letter with the District.

Section 11. Limitation of Liability. Nothing herein shall be construed as or constitute a waiver of Districts limited waiver of liability contained in section 768.28, Florida Statutes, or any other statute or law.
Section 12. Contents of Proposals. All proposals shall include the following information in addition to any other requirements of the Proposal Documents.

List position or title of all personnel to perform work on the District audit. Include resumes for each person listed; list years of experience in present position for each party listed and years of related experience.
Describe proposed staffing levels, including resumes with applicable certifications.
Provide three (3) references from projects of similar size and scope. The Proposer should include information relating to the work it conducted for each reference as well as a name, address and phone number of a contact person. Identify any work previously conducted for other community development districts.

The lump sum cost of the provision of the services under the proposal, plus the cost of two (2) annual renewals.

Section 13. Protests. In accordance with the District’s Rules of Procedure, any protest regarding the Proposal Documents, must be filed in writing, at the offices of the District Manager, within seventy-two (72) hours after the receipt of the proposed contract documents. The formal protest setting forth with particularity the facts and law upon which the protest is based shall be filed within seven (7) calendar days after the initial notice of protest was filed. Failure to timely file a notice of protest or failure to timely file a formal written protest shall constitute a waiver of any right to object or protest with respect to aforesaid contract award.

Section 14. Evaluation of Proposals. The criteria to be used in the evaluation of proposals are presented in the evaluation criteria, contained within the Proposal Documents.

AUDITOR SELECTION EVALUATION CRITERIA (WITH PRICE)

Ability of Personnel.	(20 Points)

This includes the geographic locations of the firm’s headquarters or permanent office in relation to the project; capabilities and experience of key personnel; present ability to manage this project; evaluation of existing workload; proposed staffing levels, etc.

Proposer’s Experience.	(20 Points)

This includes past record and experience of the Proposer in similar projects; volume of work previously performed by the firm; past performance for other community development districts in other contracts; character, integrity, reputation, of respondent, etc.

Understanding of Scope of Work.	(20 Points)
Extent to which the proposal demonstrates an understanding of the District’s needs for the services requested.
Ability to Furnish the Required Services.	(20 Points)

Extent to which the proposal demonstrates the adequacy of Proposer’s financial resources and stability as a business entity necessary to complete the services required.

Price.	(20 Points)

Points will be awarded based upon the lowest total bid for rendering the services and the reasonableness of the proposal.

AUDITOR SELECTION EVALUATION CRITERIA (WITHOUT PRICE)

Ability of Personnel.	(25 Points)

This includes the geographic locations of the firm’s headquarters or permanent office in relation to the project; capabilities and experience of key personnel; present ability to manage this project; evaluation of existing workload; proposed staffing levels, etc.

Proposer’s Experience.	(25 Points)

This includes past record and experience of the Proposer in similar projects; volume of work previously performed by the firm; past performance for other community development districts in other contracts; character, integrity, reputation, of respondent, etc.

Understanding of Scope of Work.	(25 Points)
Extent to which the proposal demonstrates an understanding of the District’s needs for the services requested.
Ability to Furnish the Required Services.	(25 Points)

Extent to which the proposal demonstrates the adequacy of Proposer’s financial resources and stability as a business entity necessary to complete the services required.