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, May 11, 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 April 13, 2022, Board of Supervisors’ Meeting (under separate cover)
Consideration of Resolution 2022-08, Approving a Preliminary Budget for Fiscal Year 2023 and Setting a Public Hearing Date [Suggested Hearing Date of August 10, 2022]
Consideration of Resolution 2022-09, Designating Date, Time, and Location for Landowners Meeting
Letter from Supervisor of Elections, Sarasota County
Consideration of Landscape Contractors RFQ (under separate cover)
Ratification of Funding Requests No. 73
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 April 13, 2022, Board of Supervisors’ Meeting (under separate cover)

Laurel Road Community Development District

Consideration of Resolution 2022-08, Approving a Preliminary Budget for Fiscal Year 2023 and Setting a Public Hearing Date
[Suggested Hearing Date of August 10, 2022]

RESOLUTION 2022-08

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT APPROVING THE PROPOSED BUDGET FOR FISCAL YEAR 2022/2023 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW AND PROVIDING FOR AN EFFECTIVE DATE.

WHEREAS, the Laurel Road Community Development District (the “District”) was established by Ordinance No. 2020-13, adopted by the City Council in the City of Venice, Florida, effective as of April 28, 2020; and

WHEREAS, the District Manager has prepared and submitted to the Board of Supervisors of the Laurel Road Community Development District (the “Board”) the proposed budget for the Fiscal Year 2022/2023, which concludes September 30, 2023; and

WHEREAS, the Board has considered the proposed budget and desires to set the required public hearing thereon.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. PROPOSED BUDGET APPROVED. The proposed budget prepared by the District Manager for Fiscal Year 2022/2023 attached hereto as Exhibit A is hereby approved as the basis for conducting a public hearing to adopt said proposed budget.

SECTION 2. SETTING A PUBLIC HEARING. A public hearing on said approved proposed budget is hereby declared and set for the following date, hour and location:

DATE:		, 2022

HOUR:		

LOCATION:		

SECTION 3.	TRANSMITTAL OF PROPOSED BUDGET TO LOCAL GENERAL PURPOSE
GOVERNMENTS.	The District Manager is hereby directed to submit a copy of the Proposed Budget to the City of Venice and Sarasota County at least 60 days prior to the hearing set above.

SECTION 4. POSTING OF PROPOSED BUDGET. In accordance with Section 189.016, Florida Statutes, the District’s Secretary is further directed to post the approved Proposed Budget on the District’s website at least two (2) days before the budget hearing date as set forth in Section 2, and shall remain on the website for at least 45 days.

1

SECTION 5. PUBLICATION OF NOTICE. Notice of this public hearing shall be published in the manner prescribed in Florida law.

SECTION 6. SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

SECTION 7. EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED this 11th day of May, 2022.

ATTEST:	LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors Exhibit A:	FY 2022/2023 proposed budget

2

Exhibit A
FY 2022/2023 proposed budget

[See attached]

3

Laurel Road CDD
FY 2023 Proposed O&M Budget

Actual Through 04/30/2022

Year To Date Anticipated
05/2022 -
09/2022

Anticipated FY 2022 Total

FY 2022
Adopted Budget

FY 2023
Proposed Budget

Revenues		
Assessments	$	-	$	-	$	-	$	-	$	237,687.00	
Developer Contributions	47,522.41		62,619.05		110,141.46		121,355.00		-	
Net Revenues	$	47,522.41		$	62,619.05		$	110,141.46		$	121,355.00		$	237,687.00	

General & Administrative Expenses															
Supervisor Fees	$	8,600.00	$	5,000.00	$	13,600.00	$	12,000.00	$	12,000.00	
Public Officials' Liability Insurance	2,329.00	-	2,329.00	2,475.00	2,679.00	
Trustee Services	-	6,000.00	6,000.00	6,000.00	6,000.00	
Management	17,500.00	18,500.00	36,000.00	30,000.00	48,000.00	
Engineering	-	6,250.00	6,250.00	15,000.00	15,000.00	
Dissemination Agent	1,250.00	3,750.00	5,000.00	5,000.00	1,000.00	
District Counsel	13,129.50	9,378.20	22,507.70	20,000.00	25,000.00	

Assessment Administration	-	-	-	7,500.00	5,500.00	
Reamortization Schedules	-	-	-	250.00	-	
Audit	2,500.00	3,500.00	6,000.00	6,000.00	6,000.00	
Arbitrage	-	-	-	-	600.00	
Postage & Shipping	27.91	19.95	47.86	300.00	300.00	
Legal Advertising	3,859.25	2,756.60	6,615.85	10,000.00	8,000.00	
Bank Fees	-	-	-	180.00	90.00	
Miscellaneous	0.05	-	0.05	500.00	500.00	
Office Supplies	-	-	-	250.00	250.00	
Web Site Maintenance	1,060.00	1,710.00	2,770.00	2,700.00	2,820.00	
Dues, Licenses, and Fees	175.00	-	175.00	175.00	175.00	
General Insurance	2,846.00	-	2,846.00	3,025.00	3,273.00	
Lifestyle	-	-	-	-	20,000.00	
Maintenance Staff	-	-	-	-	20,000.00	
Gate Maintenance	-	-	-	-	1,000.00	
Total General & Administrative Expenses	$	53,276.71		$	56,864.75		$	110,141.46		$	121,355.00		$	178,187.00	

Field Expenses

Electric	-	-	-	-	3,500.00	
Equipment Rental	-	-	-	-	6,000.00	
General Insurance	-	-	-	-	1,400.00	
Property & Casualty Insurance	-	-	-	-	3,700.00	
Water Reclaimed	-	-	-	-	5,000.00	
Mitigation	-	-	-	-	-	
Stormwater - Repair and Maintenance	-	-	-	-	-	
Irrigation - Repair and Maintenance	-	-	-	-	200.00	
Lake Maintenance	-	-	-	-	12,000.00	
Landscaping Maintenance & Material	-	-	-	-	25,000.00	
Landscape Improvements	-	-	-	-	2,500.00	

Wetland Mitigation		-			-			-			-			-	
Contingency		-			-			-			-			-	
Equipment Repair & Maintenance		-			-			-			-			-	
Street Sweeping		-			-			-			-			-	
Lighting		-			-			-			-			200.00	
Streetlights - Leasing		-			-			-			-			-	
Total Field Expenses	$	-		$	-		$	-		$	-		$	59,500.00	

Page 1 of 2

Laurel Road CDD
FY 2023 Proposed O&M Budget

Actual Through 04/30/2022

Year To Date Anticipated
05/2022 -
09/2022

Anticipated FY 2022 Total

FY 2022
Adopted Budget

FY 2023
Proposed Budget

Vistera - Amenity Clubhouse Electric Clubhouse Water Amenity - Telephone
Amenity - Cable TV / Internet / Wi-Fi Amenity - Landscape Maintenance Amenity - Irrigation Repairs
Amenity - Pool Maintenance Amenity - Pool Equipment Amenity - Exterior Cleaning Amenity - Interior Cleaning Amenity - Pest Control
Amenity - Fitness Equipment Leasing
Amenity - Envera Security - 8 monitored Camaras

-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-

Total Vistera - Amenity Expenses

$	-	$

-	$	-	$

-	$	-

Total Expenses

 $	53,276.71 

 $	56,864.75 

 $	110,141.46 

 $	121,355.00 

 $	237,687.00 

    

Net Income (Loss)

$	(5,754.30)	$

5,754.30	$	-	$

-	$	-

    

Page 2 of 2

Laurel Road CDD Fiscal Year 2023
Proposed Assessment Schedule

Land Use/ Product Type

# Units, Phase 1

# Units, Phase 2

ERU/Unit	Total ERUs	Net O&M Per
Product Type

Gross O&M Per Product Type

Net O&M Assessment Per Unit (Phase 1)

Gross O&M Assessment Per Unit (Phase 1)

* Net A1 Debt Assessment Per Unit

* Gross A1 Debt Assessment Per Unit

** Gross A2 Debt Assessment Per Unit

Total Gross Assessments

SF 40'	75	0	0.80	60.0	18,599.33	19,999.28	247.99	266.66	1,519.00	1,633.48	25,410.00	27,310.14	
SF 45'	67	0	0.90	60.3	18,692.32	20,099.27	278.99	299.99	1,709.00	1,837.66	22,647.00	24,784.65	
SF 50'	85	85	1.00	170.0	52,698.09	56,664.62	619.98	666.65	1,899.00	2,041.85	31,763.00	34,471.50	
SF 57'	42	107	1.14	169.9	52,654.69	56,617.95	1,253.68	1,348.04	2,165.00	2,327.70	36,209.00	39,884.74	
Paired Villas (36' - 39')	122	0	0.75	91.5	28,363.97	30,498.90	232.49	249.99	1,424.00	1,531.38	23,822.00	25,603.37	
Multi-Family	335	330	0.30	199.5	61,842.76	66,497.59	184.61	198.51	-	-	-	198.51	
Assisted Living	0	52	0.30	15.6	4,835.83	5,199.82	-	-	-	-	-	-	
	726	574		766.8	237,687.00	255,577.43				

* The gross Debt Assessment for the A1 Bond is a 30-year Debt Assessment. This Assessment is assessed at the same rate for that period of time.

** The gross Debt Assessment for the A2 Bond is the amount the Developer Entity will pay at the closing of each lot.

Laurel Road Community Development District

Consideration of Resolution 2022-09, Designating Date, Time, and Location for Landowners Meeting

RESOLUTION 2022-10

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WINDWARD AT LAKEWOOD RANCH COMMUNITY DEVELOPMENT DISTRICT DESIGNATING A DATE, TIME AND LOCATION FOR A LANDOWNERS’ MEETING AND ELECTION; PROVIDING FOR PUBLICATION; ESTABLISHING FORMS FOR THE LANDOWNER ELECTION; AND PROVIDING FOR SEVERABILITY AND AN EFFECTIVE DATE.

WHEREAS, Windward at Lakewood Ranch Community Development District (“District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within Sarasota County, Florida; and

WHEREAS, pursuant to Section 190.006(1), Florida Statutes, the District’s Board of Supervisors (“Board”) “shall exercise the powers granted to the district pursuant to [Chapter 190, Florida Statutes],” and the Board shall consist of five members; and

WHEREAS, the District is statutorily required to hold a meeting of the landowners of the District for the purpose of electing Board Supervisors for the District on a date in November established by the Board, which shall be noticed pursuant to Section 190.006(2), Florida Statutes.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF WINDWARD AT LAKEWOOD RANCH COMMUNITY DEVELOPMENT DISTRICT:

EXISTING BOARD SUPERVISORS; SEATS SUBJECT TO ELECTIONS. The Board is currently made up of the following individuals:

Seat Number	Supervisor	Term Expiration Date	
1	John Leinaweaver	2024	
2	Sandy Foster	2024	
3	Dale Weidemiller	2022	
4	Pete Williams	2022	
5	John Blakley	2022	

This year, Seat 3, currently held by Dale Weidemiller, Seat 4, currently held by Pete Williams, and Seat 5, currently held by John Blakley, are subject to election by landowners in November 2022. The two candidates receiving the highest number of votes shall be elected for a term of four (4) years. The candidate receiving the next highest number of votes shall be elected for a term of two (2) years. The term of office for each successful candidate shall commence upon election.

LANDOWNER’S ELECTION. In accordance with Section 190.006(2), Florida Statutes, the meeting of the landowners to elect Board Supervisor(s) of the District shall be held on the 		 day of November 2022, at 	 a/p.m., and located at _	.

PUBLICATION. The District’s Secretary is hereby directed to publish notice of the landowners’ meeting and election in accordance with the requirements of Section 190.006(2), Florida Statutes.

FORMS. Pursuant to Section 190.006(2)(b), Florida Statutes, the landowners’ meeting and election have been announced by the Board at its 		, 2022 meeting. A sample notice of landowners’ meeting and election, proxy, ballot form and instructions were presented at such meeting and are attached hereto as Exhibit A. Such documents are available for review and copying during normal business hours at the District’s Local Records Office, located at 	, or at the office of the District Manager, PFM Group Consulting, LLC, located at 3501 Quadrangle Blvd. Suite 270, Orlando, Florida 32817.

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

EFFECTIVE DATE. This Resolution shall become effective upon its passage.

PASSED AND ADOPTED THIS _	_ DAY OF _	_, 2022.

WINDWARD AT LAKEWOOD RANCH COMMUNITY DEVELOPMENT DISTRICT

ATTEST:	CHAIRMAN / VICE CHAIRMAN

SECRETARY / ASST. SECRETARY

EXHIBIT A

NOTICE OF LANDOWNERS’ MEETING AND ELECTION AND MEETING OF THE BOARD OF SUPERVISORS OF THE WINDWARD AT LAKEWOOD RANCH COMMUNITY DEVELOPMENT DISTRICT

Notice is hereby given to the public and all landowners within Windward at Lakewood Ranch Community Development District (“District”) the location of which is generally described as comprising a parcel or parcels of land containing approximately 		 acres, located east of 	_, north of 	, south of _	 and west of 	_, in Sarasota County, Florida, advising that a meeting of landowners will be held for the purpose of electing three (3) person/people to the District’s Board of Supervisors (“Board”, and individually, “Supervisor”). Immediately following the landowners’ meeting there will be convened a meeting of the Board for the purpose of considering certain matters of the Board to include election of certain District officers, and other such business which may properly come before the Board.

DATE:		_

TIME:		_
PLACE:		_
	_
	_

Each landowner may vote in person or by written proxy. Proxy forms may be obtained upon request at the office of the District Manager, PFM Group Consulting, LLC, located at 3501 Quadrangle Blvd, Suite 270., Orlando, Florida 32817 (“District Manager’s Office”). At said meeting each landowner or his or her proxy shall be entitled to nominate persons for the position of Supervisor and cast one vote per acre of land, or fractional portion thereof, owned by him or her and located within the District for each person to be elected to the position of Supervisor. A fraction of an acre shall be treated as one acre, entitling the landowner to one vote with respect thereto. Platted lots shall be counted individually and rounded up to the nearest whole acre. The acreage of platted lots shall not be aggregated for determining the number of voting units held by a landowner or a landowner’s proxy. At the landowners’ meeting the landowners shall select a person to serve as the meeting chair and who shall conduct the meeting.

The landowners’ meeting and the Board meeting are open to the public and will be conducted in accordance with the provisions of Florida law. One or both of the meetings may be continued to a date, time, and place to be specified on the record at such meeting. A copy of the agenda for these meetings may be obtained from the District Manager’s Office. There may be an occasion where one or more supervisors will participate by telephone.

Any person requiring special accommodations to participate in these meetings is asked to contact the District Manager’s Office, at least 48 hours before the hearing. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) / 1-800-955-8770 (Voice), for aid in contacting the District Manager’s Office.

A person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that such person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which the appeal is to be based.

Vivian Carvalho District Manager
Run Date(s): 	 & 	

PUBLISH: ONCE A WEEK FOR 2 CONSECUTIVE WEEKS, THE LAST DAY OF PUBLICATION TO BE NOT FEWER THAN 14 DAYS OR MORE THAN 28 DAYS BEFORE THE DATE OF ELECTION, IN A NEWSPAPER WHICH IS IN GENERAL CIRCULATION IN THE AREA OF THE DISTRICT

INSTRUCTIONS RELATING TO LANDOWNERS’ MEETING OF WINDWARD AT LAKEWOOD RANCH COMMUNITY DEVELOPMENT DISTRICT
FOR THE ELECTION OF SUPERVISORS DATE OF LANDOWNERS’ MEETING: _	, _	, 2022 TIME: 	_ A.M./P.M.
LOCATION: 	_	

Pursuant to Chapter 190, Florida Statutes, and after a Community Development District (“District”) has been established and the landowners have held their initial election, there shall be a subsequent landowners’ meeting for the purpose of electing members of the Board of Supervisors (“Board”) every two years until the District qualifies to have its board members elected by the qualified electors of the District. The following instructions on how all landowners may participate in the election are intended to comply with Section 190.006(2)(b), Florida Statutes.

A landowner may vote in person at the landowners’ meeting, or the landowner may nominate a proxy holder to vote at the meeting in place of the landowner. Whether in person or by proxy, each landowner shall be entitled to cast one vote per acre of land owned by him or her and located within the District, for each position on the Board that is open for election for the upcoming term. A fraction of an acre shall be treated as one (1) acre, entitling the landowner to one vote with respect thereto. For purposes of determining voting interests, platted lots shall be counted individually and rounded up to the nearest whole acre. Moreover, please note that a particular parcel of real property is entitled to only one vote for each eligible acre of land or fraction thereof; therefore, two or more people who own real property in common, that is one acre or less, are together entitled to only one vote for that real property.

At the landowners’ meeting, the first step is to elect a chair for the meeting, who may be any person present at the meeting. The landowners shall also elect a secretary for the meeting who may be any person present at the meeting. The secretary shall be responsible for the minutes of the meeting. The chair shall conduct the nominations and the voting. If the chair is a landowner or proxy holder of a landowner, he or she may nominate candidates and make and second motions. Candidates must be nominated and then shall be elected by a vote of the landowners. Nominees may be elected only to a position on the Board that is open for election for the upcoming term.

This year, three (3) seats on the Board will be up for election by landowners. The two candidates receiving the highest number of votes shall be elected for a term of four (4) years. The candidate receiving the next highest number of votes shall be elected for a term of two (2) years. The term of office for each successful candidate shall commence upon election.

A proxy is available upon request. To be valid, each proxy must be signed by one of the legal owners of the property for which the vote is cast and must contain the typed or printed name of the individual who signed the proxy; the street address, legal description of the property or tax parcel identification number; and the number of authorized votes. If the proxy authorizes more than one vote, each property must be listed and the number of acres of each property must be included. The signature on a proxy does not need to be notarized.

LANDOWNER PROXY

WINDWARD AT LAKEWOOD RANCH COMMUNITY DEVELOPMENT DISTRICT SARASOTA COUNTY, FLORIDA
LANDOWNERS’ MEETING – [DATE]

KNOW ALL MEN BY THESE PRESENTS, that the undersigned, the fee simple owner of the lands described herein, hereby constitutes and appoints 	_	 (“Proxy Holder”) for and on behalf of the undersigned, to vote as proxy at the meeting of the landowners of the Windward  at  Lakewood  Ranch  Community  Development  District  to  be  held  at
	_	_	_	
	_	_., and at any adjournments thereof, according to the number of acres of unplatted land and/or platted lots owned by the undersigned landowner that the undersigned would be entitled to vote if then personally present, upon any question, proposition, or resolution or any other matter or thing that may be considered at said meeting including, but not limited to, the election of members of the Board of Supervisors. Said Proxy Holder may vote in accordance with his or her discretion on all matters not known or determined at the time of solicitation of this proxy, which may legally be considered at said meeting.

Any proxy heretofore given by the undersigned for said meeting is hereby revoked. This proxy is to continue in full force and effect from the date hereof until the conclusion of the landowners’ meeting and any adjournment or adjournments thereof but may be revoked at any time by written notice of such revocation presented at the landowners’ meeting prior to the Proxy Holder’s exercising the voting rights conferred herein.

Printed Name of Legal Owner		
Signature of Legal Owner		Date		

Parcel Description		
Acreage	
Authorized Votes	
	_	
	_	
	_			 	

 	

[Insert above the street address of each parcel, the legal description of each parcel, or the tax identification number of each parcel. If more space is needed, identification of parcels owned may be incorporated by reference to an attachment hereto.]

Total Number of Authorized Votes:		

NOTES: Pursuant to Section 190.006(2)(b), Florida Statutes (2019), a fraction of an acre is treated as one
(1) acre entitling the landowner to one vote with respect thereto. For purposes of determining voting interests, platted lots shall be counted individually and rounded up to the nearest whole acre. Moreover, two (2) or more persons who own real property in common that is one acre or less are together entitled to only one vote for that real property.

If the fee simple landowner is not an individual, and is instead a corporation, limited liability company, limited partnership or other entity, evidence that the individual signing on behalf of the entity has the authority to do so should be attached hereto (e.g., bylaws, corporate resolution, etc.).

OFFICIAL BALLOT
WINDWARD AT LAKEWOOD RANCH COMMUNITY DEVELOPMENT DISTRICT SARASOTA COUNTY, FLORIDA
LANDOWNERS’ MEETING - 	__
_	_	_
For Election (3 Supervisors): The two (2) candidates receiving the highest number of votes will each receive a four (4) year term, and the one (1) candidate receiving the next highest number of votes will receive a two (2) year term, with the term of office for the successful candidates commencing upon election.

The undersigned certifies that he/she/it is the fee simple owner of land, or the proxy holder for the fee simple owner of land, located within the [CDD Name] Community Development District and described as follows:

Description	Acreage
	_	_			
	_	_			
	_	_			

[Insert above the street address of each parcel, the legal description of each parcel, or the tax identification number of each parcel.] [If more space is needed, identification of parcels owned may be incorporated by reference to an attachment hereto.]

or

Attach Proxy.

I,		_	,	as	Landowner,	or	as	the	proxy	holder	of
	 (Landowner) pursuant to the Landowner’s Proxy attached hereto, do cast my votes as follows:

SEAT #	NAME OF CANDIDATE	NUMBER OF VOTES	

3			

4			

5			

Date: 		Signed: _	
Printed Name: _	

Laurel Road Community Development District

Letter from Supervisor of Elections, Sarasota County

Sarasota County: Our County. Our Vote.

April 21, 2022

Jennifer Walden, Senior District Manager PFM Group Consulting, LLC
3501 Quadrangle Blvd, Suite 270
Orlando FL 32817

Subject:	Qualified Electors for Laurel Road CDD Dear Jennifer:
Per your written request, I have calculated the qualified registered electors in Laurel Road Community Developl)lent District as of April 15, 2022.

I show no registered voters residing within the development at this time. Sincerely,

Ron Turner
Supervisor of Elections Sarasota County, Florida

RT/alp

SarasotaVotes.com	O 0

P.O. Box 4194, Sarasota FL 34230-4194

101 S. Washington Blvd, Sarasota FL 34236-6940 •
T: 941.861.8600  •	F: 941.861.8609

Laurel Road Community Development District

Consideration of Landscape Contractors RFQ (under separate cover)

Laurel Road Community Development District

Ratification of Funding Requests No. 73

LAUREL ROAD COMMUNITY DEVELOPMENT DISTRICT	

Funding Request No. 73	

FR #	Description	Amount	Total	
				
73	CA Florida Holdings	$	283.25		

				

				

				

				

				
				
		Total	$283.25	

LAUREL ROAD

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

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. 073

Funding Request No. 073

4/8/2022

4/8/2022

Item

Vendor

Invoice	General

Item	Vendor	Invoice	General

No.

Number

Fund

No.	Number	Fund

1	CA Florida Holdings

1	CA Florida Holdings

Legal Advertising on 03/02/2022 ; Ad: 6938340	4479308

Legal Advertising on 03/02/2022 ; Ad: 6938340	4479308

$	283.25

283.25

TOTAL

283.25

TOTAL	$	283.25

Board Member

/ Assistant Secretary

Secretary / Assistant Secretar	Board Member

Laurel Road CDD

Laurel Road CDD

c/o PFM Group Consulting

3501 Quadrangle Blvd. Ste. 270

c/o PFM Group Consulting 3501 Quadrangle Blvd. Ste. 270

Orlando, FL 32817

Orlando, FL 32817

LaneA@pfm.com // (407) 723-5925

LaneA@pfm.com // (407) 723-5925
By Amanda Lane at 8:32 am, Apr 11, 2022

Laurel Road Community Development District

Review of District Financial Statements

Laurel Road CDD
Statement of Financial Position As of 3/31/2022

General Fund	Debt Service Fund

Capital Projects Fund

Long-Term Debt	Total

	Assets		
Current Assets
General Checking Account	
$3,942.95							
$3,942.95	
Accounts Receivable - Due from Developer	9,386.55							9,386.55	
Series 2021A1 Debt Service Reserve		$327,259.38						327,259.38	
Series 2021A2 Debt Service Reserve		164,843.75						164,843.75	
Series 2021A Revenue		4.79						4.79	
Series 2021A1 Capitalized Interest		360,344.51						360,344.51	
Series 2021A2 Capitalized Interest		284,816.14						284,816.14	
Series 2021A Acquisition/Construction				$15,079,056.06				15,079,056.06	
Series 2021A Cost of Issuance		
		5,000.05				5,000.05	
Total Current Assets	$13,329.50	$1,137,268.57		$15,084,056.11		$0.00		$16,234,654.18	

Investments									
Amount Available in Debt Service Funds							$1,137,268.57		$1,137,268.57	
Amount To Be Provided							21,212,731.43		21,212,731.43	
Total Investments	$0.00		$0.00		$0.00		$22,350,000.00		$22,350,000.00	
Total Assets	$13,329.50		$1,137,268.57		$15,084,056.11		$22,350,000.00		$38,584,654.18	

Liabilities and Net Assets

Current Liabilities Accounts Payable Deferred Revenue Retainage Payable
Total Current Liabilities

Long Term Liabilities

$8,300.55	$8,300.55
9,386.55	9,386.55
$155,925.77	155,925.77

$17,687.10	$0.00	$155,925.77	$0.00	$173,612.87

Revenue Bonds Payable - Long-Term							$22,350,000.00		$22,350,000.00	
Total Long Term Liabilities	$0.00		$0.00		$0.00		$22,350,000.00		$22,350,000.00	

Total Liabilities	$17,687.10	$0.00	$155,925.77	$22,350,000.00	$22,523,612.87

Page 1 of 2

Laurel Road CDD
Statement of Financial Position As of 3/31/2022

General Fund	Debt Service Fund

Capital Projects Fund

Long-Term Debt	Total

Net Assets

Net Assets, Unrestricted	($0.05)								($0.05)	
Net Assets - General Government	4,729.07								4,729.07	
Current Year Net Assets - General Government	(9,086.62)								(9,086.62)	
									0.00	
Current Year Net Assets, Unrestricted			1,137,268.57						1,137,268.57	
Net Assets, Unrestricted					($48,715.50)				(48,715.50)	
Current Year Net Assets, Unrestricted					14,976,845.84				14,976,845.84	
Total Net Assets	($4,357.60)		$1,137,268.57		$14,928,130.34		$0.00		$16,061,041.31	
										
Total Liabilities and Net Assets	$13,329.50		$1,137,268.57		$15,084,056.11		$22,350,000.00		$38,584,654.18	

Page 2 of 2

Laurel Road CDD Statement of Activities As of 3/31/2022

General Fund	Debt Service
Fund

Capital Projects Fund

Long-Term Debt

Total

Revenues

Developer Contributions	$38,135.86								$38,135.86	
Inter-Fund Transfers In	(0.02)								(0.02)	
Debt Proceeds			$1,584,257.51						1,584,257.51	
Developer Contributions					$677,949.07				677,949.07	
Inter-Fund Transfers In					0.02				0.02	
Debt Proceeds					20,981,133.29				20,981,133.29	
Total Revenues	$38,135.84		$1,584,257.51		$21,659,082.38		$0.00		$23,281,475.73	

Expenses

Supervisor Fees	$7,600.00								$7,600.00	
Public Officials' Liability Insurance	2,329.00								2,329.00	
Management	15,000.00								15,000.00	
District Counsel	12,108.50								12,108.50	
Audit	2,500.00								2,500.00	
Postage & Shipping	27.91								27.91	
Legal Advertising	3,576.00								3,576.00	
Miscellaneous	0.05								0.05	
Web Site Maintenance	1,060.00								1,060.00	
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					106,664.09				106,664.09	
District Counsel					35,000.00				35,000.00	
Trustee Counsel					6,250.00				6,250.00	
Bond Counsel					65,000.00				65,000.00	
Developer Advance Repayment					1,414,329.73				1,414,329.73	
Contingency					5,005,937.87				5,005,937.87	
Total Expenses	$47,222.46		$447,000.00		$6,682,406.69		$0.00		$7,176,629.15	

Other Revenues (Expenses) & Gains (Losses)

Interest Income			$11.06						$11.06	
Interest Income					$170.15				170.15	
Total Other Revenues (Expenses) & Gains (Losses)	$0.00		$11.06		$170.15		$0.00		$181.21	
Change In Net Assets	($9,086.62)		$1,137,268.57		$14,976,845.84		$0.00		$16,105,027.79	

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	

($4,357.60)		

$1,137,268.57		

$14,928,130.34		

$0.00		

$16,061,041.31	

Page 1 of 1

Laurel Road CDD
Budget to Actual
For the Month Ending 3/31/2022

Year To Date

Actual	Budget	Variance	FY 2022
Adopted Budget

Revenues		
Developer Contributions	$	38,135.86		$	60,677.52		$	(22,541.66)		$	121,355.00	
Net Revenues	$	38,135.86		$	60,677.52		$	(22,541.66)		$	121,355.00	

General & Administrative Expenses								
Supervisor Fees	$	7,600.00		$	6,000.00		$	1,600.00		$	12,000.00	
Public Officials' Liability Insurance	2,329.00		1,237.50		1,091.50		2,475.00	
Trustee Services	-		3,000.00		(3,000.00)		6,000.00	
Management	15,000.00		15,000.00		-		30,000.00	
Engineering	-		7,500.00		(7,500.00)		15,000.00	
Dissemination Agent	-		2,500.02		(2,500.02)		5,000.00	
District Counsel	12,108.50		10,000.02		2,108.48		20,000.00	
Assessment Administration	-		3,750.00		(3,750.00)		7,500.00	
Reamortization Schedules	-		124.98		(124.98)		250.00	
Audit	2,500.00		3,000.00		(500.00)		6,000.00	
Postage & Shipping	27.91		150.00		(122.09)		300.00	
Legal Advertising	3,576.00		4,999.98		(1,423.98)		10,000.00	
Bank Fees	-		90.00		(90.00)		180.00	
Miscellaneous	0.05		250.08		(250.03)		500.00	
Office Supplies	-		124.98		(124.98)		250.00	
Web Site Maintenance	1,060.00		1,350.00		(290.00)		2,700.00	
Dues, Licenses, and Fees	175.00		87.48		87.52		175.00	
General Insurance	2,846.00		1,512.48		1,333.52		3,025.00	
Total General & Administrative Expenses	$	47,222.46		$	60,677.52		$	(13,455.06)		$	121,355.00	

Total Expenses

 $	47,222.46 

 $	60,677.52 

 $	(13,455.06)

 $	121,355.00 

  	 

Net Income (Loss)

$	(9,086.60)	$

-	$	(9,086.60)	$	-

  	 

Page 1 of 1