Laurel Road Community Development District
3501 Quadrangle Boulevard, Suite 270, Orlando, FL 32817
Phone 407-723-5900; Fax 407-723-5901

The following is the agenda for the Board of Supervisors Meeting for the Laurel Road Community Development District scheduled to be held Wednesday, February 9, 2022 at 12:15 PM located at 5800 Lakewood Ranch Blvd, Sarasota, FL 34240. The following is the proposed agenda for this meeting.

Call in number: 1-844-621-3956 Passcode: 790 562 990 #
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]

Business Matters

Consideration of the Minutes of the January 12, 2022, Board of Supervisors’ Meeting
Ratification of Funding Requests 64 -- 65
Review of District Financial Statements
Other Business Staff Reports
District Counsel District Engineer District Manager

Supervisor Requests and Audience Comments Adjournment

Laurel Road Community Development District

Consideration of the Minutes of the January 12, 2022, Board of Supervisors’ Meeting

MINUTES OF MEETING

LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS MEETING
Wednesday, January 12, 2022 at 12:15 p.m. 5800 Lakewood Ranch Blvd,
Sarasota, FL 34240

Board Members present at roll call:

Pete Williams	Chairperson John Leinaweaver Vice Chairperson
John Blakley	Assistant Secretary Dale Weidemiller Assistant Secretary Janice Snow	Assistant Secretary

Also present at roll call via speakerphone or in-person:

Vivian Carvalho	District Manager-PFM Group Consulting LLC
Venessa Ripoll	Assistant District Manager-PFM Group Consulting LLC
	(via phone)		
Ed Vogler	District Counsel- Vogler Ashton	(via phone)	
Bobbi Claybrooke	District Engineer- AM Engineering	(via phone)	
Shawn Leins	District Engineer- AM Engineering	(via phone)	
Tom Panaseny	Neal Communities	(via phone)	
Pam Curran	Neal Communities		
Jim Schier	Neal Communities		
John McKay	J.H. McKay, LLC		

FIRST ORDER OF BUSINESS	Administrative Matters Call to Order and Roll Call
Ms. Carvalho called the meeting to order at 12:34 p.m. and proceeded with roll call. The Board Members and Staff in attendance are outlined above.

Public Comment Period

There were no members of the public present.

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SECOND ORDER OF BUSINESS	Business Matters

Consideration of the Minutes of the December 8, 2021 Board of Supervisors’ Meeting

The Board reviewed the Minutes from the December 8, 2021 Board of Supervisors’ Meeting.

On MOTION by Mr. Williams, seconded by Mr. Blakley, with all in favor, the Board approved the Minutes of the December 8, 2021 Board of Supervisors’ Meeting.

Consideration of the Minutes of the December 16, 2021 Continued Board of Supervisors’ Meeting

The Board reviewed the Minutes from the December 16, 2021 Continued Board of Supervisors’ Meeting.

On MOTION by Mr. Weidemiller, seconded by Mr. Williams, with all in favor, the Board approved the Minutes of the December 16, 2021 Continued Board of Supervisors’ Meeting.

Ratification of Funding Requests 59-63

The Board reviewed Funding Requests 59-63.

On MOTION by Mr. Williams, seconded by Mr. Leinaweaver, with all in favor, the Board ratified Funding Requests 59-63.

Review	of	District	Financial Statements

The Board reviewed the District Financial Statements through November 30, 2021.

On MOTION by Mr. Leinaweaver, seconded by Mr. Blakley, with all in favor, the Board accepted the District Financial Statements.

THIRD ORDER OF BUSINESS	Other Business	
		Staff Reports	
District Counsel –	No Report		

District Engineer – Ms. Claybrooke reported that per the recent letter received from Southwest Florida Water Management District as it relates to the existing permit, her office is addressing the items outlined in the letter. In addition, her office is completing the utility’s conveyance with the Sarasota County and the City of Venice.

District Manager – Ms. Carvalho noted the next meeting is scheduled for February 9, 2022.

Audience Comments and Supervisor Requests

Ms. Snow clarified for the record that she was present at the meeting on 12/16/2021 therefore the information reflected in the minutes is accurate.

FOURTH ORDER OF BUSINESS	Continuance

There were no other questions or comments. A discussion ensued regarding adjourning or continuing the meeting.

On MOTION by Mr. Weidemiller, seconded by Mr. Williams, with all in favor, the January 12, 2022 Board of Supervisors’ Meeting for the Laurel Road Community Development District at 12:39 p.m. was continued to January 27, 2022 at 11:00 a.m. at 5800 Lakewood Ranch Blvd., Sarasota,
FL 34240.

Secretary / Assistant Secretary	Chairperson / Vice Chairperson

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Laurel Road Community Development District

Ratification of Funding Requests 64 -- 65

LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT

Funding Request 64-65

FR #	Description	Amount	Total	
				
64	Vogler Ashton			
	General Counsel Through 11/30/2021	$	2,164.00		
			$2,164.00	
				
65	Supervisor Fees - 01/12/2022 Meeting			
		$	200.00		
		$	200.00		
		$	200.00		
		$	200.00		
		$	200.00		
				
	VGlobalTech			
	January Website Maintenance	$	125.00		
			$1,125.00	
				
		Total	$3,289.00	

LAUREL ROAD

C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Funding Request No. 064			
12/23/202			
Item	Vendor	Invoice	General	
No.	Number	Fund	
1	Vogler Ashton			
General Counsel Through 11/30/2021	7397	$ 2,164.00	
	
TOTAL	
$2,164.00	

cr	y /	Sec

Secretary / Assistant Secretary	Board Member

Laurel Road CDD
c/o PFM Group Consulting 3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817
LaneA@pfm.com // (407) 723-5925

By Amanda Lane at 10:47 am, Dec 30, 2021

LAUREL ROAD
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Funding Request No. 065
1/14/2022

Item No.

Vendor		Invoice	General Number		Fund

Supervisor Fees - 01/12/2022 Meeting
Dale Weidemiller John Blakley Pete Williams Janice Snow
John Leinaweaver

$	200.00
$	200.00
$	200.00
$	200.00
$	200.00

VGlobalTech
January Website Maintenance	352

$	125.00

TOTAL	$1,125.00

Secr	etary	B	d Member

Laurel Road CDD
c/o PFM Group Consulting 3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817
LaneA@pfm.com // (407) 723-5925

By Amanda Lane at 10:16 am, Jan 21, 2022

Laurel Road Community Development District

Review of District Financial Statements

	Laurel Road CDD	
	Statement of Financial Position	
	As of 12/31/2021	

General Fund	
Debt Service Fund	
Capital Projects Fund	
	
Assets	
Current Assets		
General Checking Account	$4,228.95	
Accounts Receivable - Due from Developer	8,458.86	
Series 2021A1 Debt Service Reserve	$327,259.38	
Series 2021A2 Debt Service Reserve	164,843.75	
Series 2021A1 Capitalized Interest	360,341.01	
Series 2021A2 Capitalized Interest	284,813.37	
Series 2021A Acquisition/Construction	$20,763,908.29	
Series 2021A Cost of Issuance	5,000.00	
Total Current Assets	$12,687.81	$1,137,257.51	$20,768,908.29	

Investments		
Amount Available in Debt Service Funds		
Amount To Be Provided		
Total Investments	$0.00	$0.00	$0.00	
Total Assets	$12,687.81	$1,137,257.51	$20,768,908.29	

Liabilities and Net Assets	
Current Liabilities		
Accounts Payable	$7,658.86	
Deferred Revenue	8,458.86	
Accounts Payable	$620,839.25	
Retainage Payable	61,620.72	
Total Current Liabilities	$16,117.72	$0.00	$682,459.97	

Long Term Liabilities		
Revenue Bonds Payable - Long-Term		
Total Long Term Liabilities	$0.00	$0.00	$0.00	
Total Liabilities	$16,117.72	$0.00	$682,459.97	

Net Assets		
Net Assets, Unrestricted	($0.05)	
Net Assets - General Government	4,729.07	
Current Year Net Assets - General Government	(8,158.91)	

Current Year Net Assets, Unrestricted	
1,137,257.51	
Net Assets, Unrestricted	($48,715.50)	
Current Year Net Assets, Unrestricted	20,135,163.80	
Total Net Assets	($3,429.89)	$1,137,257.51	$20,086,448.30	
		
Total Liabilities and Net Assets	$12,687.83	$1,137,257.51	$20,768,908.27	

$0.00		$4,228.95 8,458.86
327,259.38
164,843.75
360,341.01
284,813.37
20,763,908.29
5,000.00
$21,918,853.61	

$1,137,257.51 21,212,742.49
$22,350,000.00		

$1,137,257.51 21,212,742.49
$22,350,000.00	
$22,350,000.00		$44,268,853.61	

$0.00		

$7,658.86 8,458.86
620,839.25
61,620.72
$698,577.69	

$22,350,000.00
$22,350,000.00		

$22,350,000.00
$22,350,000.00	
$22,350,000.00		$23,048,577.69	

$0.00		

($0.05) 4,729.07
(8,158.91)

0.00
1,137,257.51

(48,715.50)
20,135,163.80

$21,220,275.92	
			
$22,350,000.00		$44,268,853.61	

Long-Term Debt	Total

 

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Laurel Road CDD Statement of Activities As of 12/31/2021	
	
General Fund		
Debt Service Fund		
Capital Projects Fund		
Long-Term Debt		
Total	

Revenues										
Developer Contributions	$22,566.50								$22,566.50	
Debt Proceeds			$1,584,257.51						1,584,257.51	
Developer Contributions					$677,949.07				677,949.07	
Debt Proceeds					20,981,133.29				20,981,133.29	
Total Revenues	

$22,566.50		

$1,584,257.51		

$21,659,082.36		

$0.00		

$23,265,906.37	
Expenses										
Supervisor Fees	$4,800.00								$4,800.00	
Public Officials' Liability Insurance	2,329.00								2,329.00	
Management	7,500.00								7,500.00	
District Counsel	9,376.50								9,376.50	
Postage & Shipping	19.86								19.86	
Legal Advertising	3,004.00								3,004.00	
Miscellaneous	0.05								0.05	
Web Site Maintenance	675.00								675.00	
Dues, Licenses, and Fees	175.00								175.00	
General Insurance	2,846.00								2,846.00	
Other Debt Service Costs			$447,000.00						447,000.00	
Trustee Services					$5,725.00				5,725.00	
Management					43,500.00				43,500.00	
Engineering					10,000.00				10,000.00	
District Counsel					35,000.00				35,000.00	
Trustee Counsel					6,250.00				6,250.00	
Bond Counsel					65,000.00				65,000.00	
Contingency					1,358,443.56				1,358,443.56	
Total Expenses	

$30,725.41		

$447,000.00		

$1,523,918.56		

$0.00		

$2,001,643.97	
Other Revenues (Expenses) & Gains (Losses)										
Total Other Revenues (Expenses) & Gains (Losses)	$0.00		$0.00		$0.00		$0.00		$0.00	
Change In Net Assets	($8,158.91)		$1,137,257.51		$20,135,163.80		$0.00		$21,264,262.40	

Net Assets At Beginning Of Year	
$4,729.02		
$0.00		
($48,715.50)		
$0.00		
($43,986.48)	

Net Assets At End Of Year	

($3,429.89)		

$1,137,257.51		

$20,086,448.30		

$0.00		

$21,220,275.92	

Page 1 of 1

	Laurel Road CDD	
	Statement of Financial Position	
	As of 12/31/2021	

General Fund	
Debt Service Fund	
Capital Projects Fund	
	
Assets	
Current Assets		
General Checking Account	$4,228.95	
Accounts Receivable - Due from Developer	8,458.86	
Series 2021A1 Debt Service Reserve	$327,259.38	
Series 2021A2 Debt Service Reserve	164,843.75	
Series 2021A1 Capitalized Interest	360,341.01	
Series 2021A2 Capitalized Interest	284,813.37	
Series 2021A Acquisition/Construction	$20,763,908.29	
Series 2021A Cost of Issuance	5,000.00	
Total Current Assets	$12,687.81	$1,137,257.51	$20,768,908.29	

Investments		
Amount Available in Debt Service Funds		
Amount To Be Provided		
Total Investments	$0.00	$0.00	$0.00	
Total Assets	$12,687.81	$1,137,257.51	$20,768,908.29	

Liabilities and Net Assets	
Current Liabilities		
Accounts Payable	$7,658.86	
Deferred Revenue	8,458.86	
Accounts Payable	$620,839.25	
Retainage Payable	61,620.72	
Total Current Liabilities	$16,117.72	$0.00	$682,459.97	

Long Term Liabilities		
Revenue Bonds Payable - Long-Term		
Total Long Term Liabilities	$0.00	$0.00	$0.00	
Total Liabilities	$16,117.72	$0.00	$682,459.97	

Net Assets		
Net Assets, Unrestricted	($0.05)	
Net Assets - General Government	4,729.07	
Current Year Net Assets - General Government	(8,158.91)	

Current Year Net Assets, Unrestricted	
1,137,257.51	
Net Assets, Unrestricted	($48,715.50)	
Current Year Net Assets, Unrestricted	20,135,163.80	
Total Net Assets	($3,429.89)	$1,137,257.51	$20,086,448.30	
		
Total Liabilities and Net Assets	$12,687.83	$1,137,257.51	$20,768,908.27	

$0.00		$4,228.95 8,458.86
327,259.38
164,843.75
360,341.01
284,813.37
20,763,908.29
5,000.00
$21,918,853.61	

$1,137,257.51 21,212,742.49
$22,350,000.00		

$1,137,257.51 21,212,742.49
$22,350,000.00	
$22,350,000.00		$44,268,853.61	

$0.00		

$7,658.86 8,458.86
620,839.25
61,620.72
$698,577.69	

$22,350,000.00
$22,350,000.00		

$22,350,000.00
$22,350,000.00	
$22,350,000.00		$23,048,577.69	

$0.00		

($0.05) 4,729.07
(8,158.91)

0.00
1,137,257.51

(48,715.50)
20,135,163.80

$21,220,275.92	
			
$22,350,000.00		$44,268,853.61	

Long-Term Debt	Total

 

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