MINUTES OF MEETING

SHINGLE CREEK

COMMUNITY DEVELOPMENT DISTRICT

The  regular	meeting	of the  Board	of	Supervisors  of the		
						
Development District was held on Monday,	February 25, 2019 at	11		
						
ChampionsGate, 1520 Oasis Club Blvd., ChampionsGate, Florida.			
Present and constituting a quorum were:				
Rob Bonin				Chairman			
Adam Morgan			Vice Chairman			
Barry Bichard						
			Assistant Secretary		
Also present were:						
George Flint				District Manager			
Andrew d 'Adesky						
			District Counsel			
Alan Scheerer			Field Manager			

Shingle Creek Community :00 a.m. at the Oasis Club at

FIRST ORDER OF BUSINESS	Roll Call	

Mr.

Flint called the meeting to order and called the roll.	A quorum was present.

SECOND ORDER OF BUSINESS	Public Comment Period	

Mr.

Flint:  Only Board Members and staff are present, so there are no public comments.

TIDRD ORDER OF BUSINESS

Approval of Minutes Meeting

of

the January 22, 2019

Mr.	Flint:   You have the minutes from the January 22, 2019 meeting in your agenda		
			
package.  Did the Board have any additions, deletions or corrections?		
Mr.	Morgan:	They look good to me.		

Mr.

presented.

Flint:

If

there  are no  corrections,  we need	a motion to  approve the minutes as	

On MOTION by Mr.

favor the minutes of

Morgan seconded by Mr. Bichard with all in the January 22, 2019 meeting were approved

as

presented.

February 25, 2019	Shingle Creek CDD		

FOURTH ORDER OF BUSINESS

Consideration of Bond with Greenberg Traurig,

Counsel Agreement P.A.

Mr.

have  been

specifically

Flint: bond refer

This is an agreement with Greenberg Traurig to	
Counsel  in the  past  on	the other bond issues.	
to the Series 2019 bonds.		

serve	as bond Counsel. They		
The	prior agreement did not		

On	by Mr. Morgan seconded by Mr. Bichard with		
MOTION			
favor, the Bond Counsel Agreement with Greenberg Traurig,		
was approved.			

all in

P.A.,

FIFTH ORDER OF BUSINESS	Public Hearing	

Mr. Flint: 2019 assessment

Next is the public hearing to consider the levying area. I need a motion to open the public hearing.

of

assessments for the Series

On MOTION by favor, the Public

Mr. Morgan seconded Hearing was opened.

by

Mr.

Bichard

with

all in

A.

Consideration

of

Engineer's Report

	Mr.	Flint: The Board has seen this report previously, it was		as the basis for setting		
					used			
then	public	hearing a sending the mailed notice.  It is dated January  18,  2019. Are there any		
				
questions on the Engineer's report?								
	Mr.	Morgan: Is it the								
		exact same as what we previously reviewed?				
	Mr.	d' Adesky: There have	been	some comments and	updates,	but	in substance it is the		

same.									

Mr. Flint: These sure these cost numbers mailed notice.

numbers have been reviewed are lined up with where they

by Lennar, need to be.

Mark This

and I worked on version was used

making for the

B.	Consideration  of	Second	Supplemental  Assessment  Methodology  for  the		
					
	Series 2019 Assessment Area						
Mr.	Flint:	You also have the Second	Supplemental Assessment Methodology, it is dated		
								
February 1, 2019. This reflects the actual	terms	of the bond issue. You		
									previously approved a		
Master  for	the  expansion	area,	and  there  was	already  an	existing	Master  for  the  original		

boundaries	of the	District. The Second Supplemental ties both areas			
								together that are part of the		

Assessment	Area,	which	we	are	calling	the	2019	Assessment	Area.

Table

1	reflects  the	

2

February 25, 2019																Shingle Creek CDD		
																				
development plan for the Series 2019 bonds. There is a	total of 984 units.	Those are comprised		

of 308	platted on roll units, 627 new platted units,	and 49 . unplatted	units.		Table 2 shows the		

																			
Capital Improvement	Plan cost estimates.	It													
							shows for The Cove it is $4,400,000 and for Phase I-		
3B it is $1,500,000. The remaining	improvements of the Series 2015	bonds	is $19,850,000, so		
										
those three together total $25,000,000. Table 3 shows the	bond sizing	and	it	reflects the actual		

interest	rate of 4.87%. It	is a	thirty-year amortization				three		months of interest,		
											
									period, there are					
50% of	max annual debt	service reserve, and an	Underwriter's discount	of	2%. Table 4 shows		

																		
you the allocation of the																	
			improvement costs. Table 5 shows the	allocation	of the par debt to each		
															
product type. Table 6 shows the par debt per product				unit						
									type and the per		assessment amounts		
																	
both in net an annual. Table 7 is the preliminary assessment									
											roll, it shows the		platted lots as well		
																			
as the parcel	where the remaining unplatted lots are reflected. Are there any questions on the		
				
report?																				

C.

Public

Comment

&

Testimony

Mr.

Flint:  No members

On MOTION by favor, the Public

of the public

Mr. Bichard Hearing was

are here to

seconded closed.

provide comment or

by Mr. Morgan with

testimony.

all in

D.	Consideration of Resolution			
		2019-10 Levying Assessments for the Series 2019		
	Assessment Area			
Mr. d' Ade sky:  Resolution			
		2019-10 is a levy assessment, this is levying them pursuant to		
Chapter		of the Florida statutes. It approves the final form of the		
190, 197, 170			
			Engineer's Report		
and the Supplemental Assessment	that		
		Methodology. It says the assessments			
			you are placing on		
these lots	and this property are in portion to the benefit that is going to be conveyed to them by		
			
the infrastructure that is being built and the	That comprehensively		
		benefits of the 2019 project.			
makes up	resolution 2019-10.			
				
Mr.				
	Flint: Are there any			
		questions on the resolution?			
	On MOTION by Mr. Morgan seconded by Mr. Bichard with all in		
	favor,  Resolution  2019-10  Levying  Assessments  for  the  Series		
	2019 Assessment Area, was approved.			

SIXTH ORDER OF BUSINESS	Consideration

Finalizing the

of
Series

Resolution 2019-11 2019 Assessments

3

February 25, 2019

Shingle

Creek

CDD

Mr.

d'Adesky:	After we price the bonds, we are required to finalize them by both our

documents and resolutions. This brings them in line with the final			
			pricing of the bonds which is		
consistent with the interest rate.						
On MOTION by Mr. Bichard	Mr. Morgan with all in		
	seconded by			
favor, Resolution 2019-11 Finalizing the Series 2019 Assessments,		
was approved.						
SEVENTH ORDER OF BUSINESS	Consideration	of	Resolution2019-12		
					
	Adoption	of Tax-			
					
	Procedures	Exempt Bond Policies and		

Mr. d' Adesky:  We are								
		required to adopt certain tax policies and procedures, and		
primarily  administrative  procedures,	some	of	which  are  already	being	implemented		

Manager.  These  are	policies  and  procedures	that  have  been	suggested	by  the  IRS		
									
National	of Bond									
Association		Lawyers. They mostly apply to record keeping.		
				
On MOTION by Mr. Bichard	seconded by Mr. Morgan with all in		
favor, Resolution				
								
		2019-12 Adopting of Tax-					
and Procedures, was approved.		Exempt Bond Policies		

they are

by  the

and  the

EIGHTH A.

ORDER OF BUSINESS	Staff Reports	
Attorney		

Mr.

Flint:

Do

you have anything else Andrew?

Mr.

d'

Adesky:

We should be good to

go on the bond closing.

That's

all I have.

B.

Engineer

Mr.

Flint:

The Engineer is not here,

we'll

move

on.

C.

District Manager's Report		
i.	Approval of Check Registers		

Mr. Flint: totaling $51,372: check register? If

You have the check register from January 16, 2019 through February 13, 2019 The detailed register is behind the summary. Are there any questions on the not, I would ask for a motion to approve it.

4

February 25, 2019	Shingle Creek CDD		

On MOTION by Mr. Morgan seconded by favor, the Check Register was approved.

Mr.

Bichard

with

all in

11.	Balance Sheet and Income Statement		
			
Mr. Flint:	These are		
	unaudited through January 31, 2019.		
can discuss	If not, no action is		
those.			
	required by the Board.		

If

there are any questions, we

NINTH ORDER OF BUSINESS	Other Business	

Mr.

agenda?

Flint:	Is there  anything  else that the Board wants to  discuss that is not on the	

TENTH

ORDER

OF

BUSINESS

Supervisor's Requests

Mr.

Flint:  Are there any Supervisor's requests?

If

not, we need a motion to adjourn.

ELEVENTH ORDER OF BUSINESS	Adjournment

On MOTION by Mr. Bichard seconded by Mr. Morgan with all in favor, the meeting was adjourned.

Secretary/Assistant Secretary

5