The Village at Gulfstream Park Community Development District
12051 Corporate Boulevard, Orlando, FL 32817
Phone: 407.723.5900
thevillageatgulfstreamparkcdd.com

The Board of Supervisors meeting of The Village at Gulfstream Park Community Development District (“District”) will be held on December 18, 2020 at 11:00 a.m. at 901 South Federal Highway, 4th Floor, Hallandale Beach, FL 33009. The attendance of three Board Members is required to constitute a quorum.

Please use the conference call information below:
Dial-In:	1-844-621-3956
Access Code:	790 393 986 #

BOARD OF SUPERVISOR’S MEETING AGENDA
Administrative Matters
Call to Order
Roll Call to Confirm a Quorum
Public Comment Period
Consideration of Nomination(s) for Open Seat (5) on the Board
Consideration of the Minutes of the October 23, 2020 Board of Supervisors Meeting

Business Matters
Consideration of Matters Relative to Re-Financing of the Outstanding Series 2008 Bonds and Funding of New Infrastructure Project (provided under separate cover)
Consideration of Resolution 2021-01, Ratifying Actions Taken at Virtual Meetings
Consideration Second Amendment to Easement Agreement
Consideration of Funding Requests 249 – 256
Review of District Financial Position
Other Business Staff Reports
District Counsel District Engineer District Manager
Update on Change of Trustee

Supervisors Requests and Audience Comments Adjournment

THE VILLAGE AT GULFSTREAM PARK COMMUNITY DEVELOPMENT DISTRICT

Minutes

BOARD OF SUPERVISORS’ MEETING MINUTES

FIRST ORDER OF BUSINESS	Call to Order

The Board of Supervisors’ Meeting for the Village at Gulfstream Park Community Development District was called to order on Friday, October 23, 2020 at 11:00 am via conference call due to the COVID-19 Executive Order 20-246 (as extended by EO 20-112, EO 20-123, EO 20-139, EO 20- 150, EO 20-179, and 20-193). Board Members are listed below:

Present and constituting a quorum via phone:

Joe Lopez	Board Member
Richard Patterson	Board Member
Leah Hatzikonstantinou	Board Member

Also present were via phone:
Jane Gaarlandt	PFM
Christina Hanna	PFM
Verona Griffith	PFM
Hank Fishkind	PFM Financial Advisors, LLC
Verona Griffith	PFM
Michael J. Pawelczyk	Billing, Cochran, Lyles, Mauro & Anderson, P.A.

SECOND ORDER OF BUSINESS	Public Comment Period

There were no public comments at this time.

THIRD ORDER OF BUSINESS	Consideration of Matters Relative to Re-Financing of the Outstanding Series 2008 Bonds and Funding of New Infrastructure Project

Dr. Fishkind spoke to the Chairman about re-financing the outstanding Series 2008 Bonds. They are at a high interest rate of 6.875% and thinks there will be considerable savings to refunding those bonds. He spoke to the Landowner and owner of the Bonds who also agrees. Dr. Fishkind prepared a Financing Package and will circulate that and obtain some additional quotes and bring back a report and start working with Mr. Pawelczyk and financing team.

The Landowner is ready to commence with Phase 2 of the development. The infrastructure development plan for the District is a multi-phase plan. They will be working on the financing for that as well and bring all of those matters to the Board at the November meeting. Dr. Fishkind will work with District staff and the Chair.

Dr. Fishkind stated the District will need to engage an Underwriter for the new financing and perhaps for the re-financing. There are three firms recommended by Dr. Fishkind, MBS, FMS, and Morgan Stanley. He will bring a recommendation in November.

FOURTH ORDER OF BUSINESS	Consideration	of Nomination(s) for Open Seat
(5) on the Board (vacated by Mr. Ritvo)

The Board had no nominations at this time so it will be kept on the agenda for the next meeting

FIFTH ORDER OF BUSINESS	Consideration of the Minutes of the September 25, 2020 Board of Supervisors’ Meeting

The Board reviewed the minutes.

On MOTION by Mr. Lopez, seconded by Mr. Patterson, with all in favor, the Board approved the Minutes of the September 2020 Board of Supervisors Meeting.

SIXTH ORDER OF BUSINESS	Ratification of Fiscal Year 2020 Auditor Engagement Letter

The Board reviewed the Fiscal Year Auditor Engagement Letter.

On MOTION by Mr. Patterson, seconded by Mr. Lopez, with all in favor, the Board ratified the Fiscal Year Auditor Engagement Letter.

SEVENTH ORDER OF BUSINESS	Consideration of Funding Requests 246 - 248

Ms. Gaarlandt requested a motion to ratify Funding Requests 246-248.

On MOTION by Mr. Patterson, seconded by Mr. Lopez, with all in favor, the Board ratified Funding Requests 246 - 248.

2

EIGHTH ORDER OF BUSINESS	Review of District’s Financial Statements

The Board reviewed the Statement of District Financial Position. There was no action required by the Board.

NINTH ORDER OF BUSINESS	Staff Reports

Attorney – Mr. Pawelczyk stated both he and Ms. Gaarlandt received separate calls from attorney Ed Stacker who informed them that the owners of a majority of the property within the boundary of the District is going to work on clearing up their title. Most of those lands are under a 99 year lease with the Developer entity with a similar entity. Their intent is to clean that up and in the upcoming meetings there may be items presented to the Board that they might have to consider. It might be done in conjunction with the refinancing. There is nothing there that would adversely impact the District because all those records are recorded in the Public Record.

Engineer – Not Present

Manager – Ms. Griffith reminded Ms. Hatzikonstantinou that she needs sign the approvals for the form that she sent out. Ms. Gaarlandt asked Ms. Griffith if she had the right contact information and noted it can be addressed outside the meeting.

TENTH ORDER OF BUSINESS	Audience Comments and Supervisors	Requests, Adjourn

There were no Supervisor requests or audience comments.

Ms. Gaarlandt asked if there was any other business to discuss. Hearing none, she requested a motion to adjourn.

On MOTION by Mr. Patterson, seconded by Mr. Lopez, with all in favor, the October 23, 2020 meeting of the Board of Supervisors for The Village at Gulfstream Park Community Development District was adjourned.

 	_ 		 	_ 	_
Secretary/Assistant Secretary	Chairman/Vice-Chairman

3

THE VILLAGE AT GULFSTREAM PARK COMMUNITY DEVELOPMENT DISTRICT

Re-Financing of the Outstanding Series 2008 Bonds and Funding of New Infrastructure Project

(provided under separate cover)

THE VILLAGE AT GULFSTREAM PARK COMMUNITY DEVELOPMENT DISTRICT

Resolution 2021-01

RESOLUTION 2021-01

A RESOLUTION BY THE BOARD OF SUPERVISORS OF THE VILLAGE AT GULFSTREAM PARK COMMUNITY DEVELOPMENT DISTRICT RATIFYING AND APPROVING ACTIONS TAKEN BY THE BOARD OF SUPERVISORS AT MEETINGS HELD VIA MEDIA COMMUNICATIONS TECHNOLOGY PURSUANT TO EXECUTIVE ORDER NO. 20-69, AS AMENDED AND EXTENDED, AS A RESULT OF THE COVID-19 PANDEMIC

WHEREAS, the COVID-19 pandemic has significantly impacted the Village at Gulfstream Park Community Development District (the “District”) and those residing and owning property within the boundaries of the District; and
WHEREAS, on March 1, 2020, Governor Ron DeSantis (the “Governor”) issued Executive Order No. 20-51, directing the Florida Department of Health to issue a Public Health Emergency; and
WHEREAS, on March 1, 2020, the State Surgeon General and State Health Officer declared a Public Health Emergency exists in the State of Florida as a result of COVID-19; and
WHEREAS, on March 9, 2020, the Governor issued Executive Order No. 20-52 (since extended), declaring a state of emergency for the entire State of Florida as a result of COVID-19; and
WHEREAS, in a series of actions in March 2020, President Donald Trump, the Centers for Disease Control and Prevention (the “CDC”), and the White House Coronavirus Task Force have issued guidance advising individuals to adopt far-reaching social distancing measures recommending restrictions on mass gatherings and congregations, including public meetings; and

1

WHEREAS, on March 20, 2020, the Governor issued Executive Order No. 20-69 temporarily suspending the statutory requirement that a quorum be present in person at a specific public place, authorizing the use of media communications technology, such as telephonic and video conferencing, as provided in Section 120.54(5)(b)2, Florida Statutes; and
WHEREAS, Executive Order No. 20-69 was amended and extended by subsequent Executive Orders of Governor Ron DeSantis, including Executive Order No. 20-246, which extended the temporary suspension of the statutory requirement that a quorum be present at a specific place and authorizing the use of media communications technology, until November 1, 2020 at 12:01 AM; and
WHEREAS, on March 24, 2020, the Governor issued Executive Order No. 20-83, directing the State of Florida Surgeon General and State Health Officer to issue a public health advisory urging the public to avoid all social and recreational gatherings of ten or more people and urging those can work remotely to do so; and
WHEREAS, the Governor, on April 3, 2020, issued Executive Order No. 20-91 (later amended by Executive Order 20-92), directing that all persons in Florida shall limit their movements and personal interactions outside their home to those necessary to obtain or provide essential services or to conduct essential activities; and
WHEREAS, the District Board of Supervisors met a number of times, pursuant to and under the authority of Executive Order No. 20-69, as amended and extended, utilizing media communications technology; and
WHEREAS, the District Board of Supervisors intends to ratify and approve those actions taken by the District Board of Supervisors at all of its meeting(s) held via media communications technology; and

2

WHEREAS, due to the COVID-19 pandemic and the health concerns associated with securing signatures on certain instruments necessary for the District to conduct business, including, but not limited to, agreements, proposals, resolutions, and approved meeting minutes, in accordance with the authority granted in Chapter 668, Florida Statutes, the District may have utilized DocuSign or other acceptable electronic signature software to secure signatures the proper District officials; and
WHEREAS, the Board hereby finds and determines that the use of DocuSign or other acceptable electronic signature software pursuant to Chapter 668, Florida Statutes, if any, between March 1, 2020 and October 31, 2020, was necessary to properly conduct the business of the District.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE VILLAGE AT GULFSTREAM PARK COMMUNITY DEVELOPMENT DISTRICT, THAT:

Section 1.	The above recitals are true and correct and incorporated herein as if set

forth  in  full  herein.	The Executive Orders referenced herein are incorporated herein by reference.
Section 2.	Those actions taken by the District Board of Supervisors at its meeting

held pursuant to the authority of the Governor’s Executive Order No. 20-69, as amended and extended, via media communications technology on the following dates, are hereby ratified and approved:
A. April 24, 2020
B. May 8, 2020
C. July 24, 2020
D. September 25, 2020
E. October 23, 2020

3

Section 3.	Any use by the District between March 1, 2020 and October 31, 2020 of

DocuSign or other acceptable electronic signature software pursuant to Chapter 668, Florida Statutes, in order to secure the signature(s) of the proper District officials on those instruments necessary for the District to conduct business, including, but not limited to, agreements, proposals, resolutions, and approved meeting minutes, is hereby ratified and approved.
Section 4. All sections, or parts thereof, which conflict herewith, are, to the extent of

such conflict, superseded and repealed. In the event that any portion of this Resolution is found to be unconstitutional or improper, it shall be severed herein and shall not affect the validity of the remaining portions of this Resolution.
Section 5. This Resolution shall take effect immediately upon its adoption.

PASSED  AND ADOPTED this 	day of 	, 202_, by the Board of
Supervisors of the Village at Gulfstream Park Community Development District.

VILLAGE AT GULFSTREAM PARK COMMUNITY DEVELOPMENT DISTRICT

Print Name: 		Print Name:   	
Secretary/Assistant Secretary	Chair/Vice Chair

4

THE VILLAGE AT GULFSTREAM PARK COMMUNITY DEVELOPMENT DISTRICT

Second Amendment to Easement Agreement

THIS INSTRUMENT PREPARED BY:
Mark W. Hockley, Esq.
Greenberg Traurig, LLP
77 W. Wacker Drive, Suite 3100
Chicago, IL 60601

SECOND AMENDMENT TO EASEMENT AGREEMENT

(Village at Gulfstream Park)

THIS	SECOND	AMENDMENT	TO	EASEMENT	AGREEMENT	(this
“Amendment”) is made as of this 18th day of December, 2020 by and between THE VILLAGE AT GULFSTREAM PARK COMMUNITY DEVELOPMENT DISTRICT, a local unit of
special-purpose government organized and existing under Chapter 190, Florida Statutes (“District”) and THE VILLAGE AT GULFSTREAM PARK, LLC, a Delaware limited liability company (“Village”).

RECITALS:

Village, District and Gulfstream Park Racing Association, Inc., a Florida corporation (“GPRA”) entered into that certain Easement Agreement dated as of January 31, 2008 and recorded at O.R. Book 45055, Page 58, Public Records of Broward County, Florida (the “Original Easement”); as amended by that certain First Amendment to Easement Agreement dated as of November 25, 2009 and recorded at O.R. Book 46697, Page 1540, Public Records of Broward County, Florida (the “First Amendment”); and as affected by that certain Partial Release of Parcel from Easement Agreement dated November 14, 2014 and recorded at O.R. Book 51253, Page 1604, Public Records of Broward County, Florida (the “Partial Release” and, collectively with the Original Easement and the First Amendment, the “Easement Agreement”);

The Easement Agreement provides for certain public improvements owned by the District would be located on certain land more particularly described therein.

Pursuant to that certain Special Warranty Deed dated as of November 14, 2014 and recorded at O.R. Book 51253, Page 1565, Public Records of Broward County, Florida (the “Garage Deed”) the District conveyed its interest in certain public garage improvements described therein to Village. The District no longer owns or maintains any public garage improvements pursuant to the Easement Agreement, including, without limitation, in any of the Public Garage Areas (as defined below).

Pursuant to that certain [Deed] dated as of 	, 202_ and recorded at O.R. Book 	, Page 	, Public Records of Broward County, Florida, GPRA conveyed its interest in certain lands described therein to Village, which lands include all lands of GPRA subject to the Easement Agreement such that Village has succeeded to all of GPRA’s interest thereunder.

Pursuant to that certain [Termination] dated  as of 	, 202_ and recorded at O.R. Book 	, Page 	, Public Records of Broward County, Florida, Village has terminated the Ground Lease (as defined in the Easement Agreement) formerly between GPRA and Village.

It is necessary to amend the Easement Agreement to adjust certain definitions and provisions relating to the garage improvements described in the Garage Deed and to commemorate the termination of the Ground Lease.

NOW, THEREFORE, with reference to the foregoing, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, District and Village agree as follows:

The recitals stated above are true and correct and by this reference are incorporated as a material part of this Amendment. All capitalized terms used in this Amendment and not defined herein shall have such meanings ascribed thereto in the Easement Agreement.

Modifications to Definitions. The areas and improvements constituting the Condominium Garage, the Hotel Garage, the Building 1200 Garage, and the Public Garage Improvements (collectively, the “Public Garage Areas”) are hereby excluded from the Easement Agreement’s definitions of the “Public Improvements” and “Easement Areas”.

Removal of Inapplicable Public Garage Provisions. The parties hereby agree that the provisions of the Easement Agreement pertaining to the Public Garage Areas shall be of no further force and effect, including, without limitation, the second to last paragraph of Section 1.2 of the Original Easement, Section 4.6 of the Original Easement, Sections 9 through 9.11 (inclusive) of the First Amendment, and Section 13 of the First Amendment.

Notices to Village. All approvals, notices or other communications required or permitted to be given to Village pursuant to the Easement Agreement (as amended hereby) shall be addressed as set forth below:

Village:	c/o The Stronach Group #2 – 95 Eric T. Smith Way Aurora, Ontario L4G 0Z6 Canada
Attn: Secretary
Telecopy No.: (905) 726-7172

With a copy to:	c/o The Village at Gulfstream Park, LLC
901 South Federal Highway Hallandale Beach, Florida 33009
Attn: Senior Vice President of Development Telecopy No.: (954) 457-6422

And a copy to:	Greenberg Traurig, LLP
77 W. Wacker Drive, Suite 3100

Chicago, Illinois 60601 Attn: Jason Toon, Esq.
Telecopy No.: (312) 899-0427

Notices to District. All approvals, notices or other communications required or permitted to be given to Village pursuant to the Easement Agreement (as amended hereby) shall be addressed as set forth below:

District:	The Village at Gulfstream Park CD 12051 Corporate Boulevard
Orlando, FL 32817 Attn: District Manager
Telecopy No.: (407) 723-5901

With a copy to:	Billing, Cochran, Lyles, Mauro & Ramsey, P.A.
515 East Las Olas Boulevard, 6th Floor Fort Lauderdale, Florida 33301
Attn: Dennis E. Lyles, Esq. Telecopy No.: (954) 764-7279

As amended hereby, the conditions and terms of the Easement Agreement shall remain in full force and effect. In the event of any conflict between the provisions of this Amendment and the provisions of the Easement Agreement, the provisions of this Amendment shall prevail.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

SIGNATURE PAGE TO SECOND AMENDMENT TO EASEMENT AGREEMENT

Name: 	

Name: 		VILLAGE:

THE VILLAGE AT GULFSTREAM PARK,
LLC, a Delaware limited liability company

By: 	
Name:	 Title: 		

STATE OF 		)
) SS: COUNTY OF 		)

The foregoing instrument was acknowledged before me by means of [    ] physical presence or [ ]
online   notarization,   on   this 	day   of 	,   202_,   by 	as
 	  of THE VILLAGE AT GULFSTREAM PARK, LLC, a Delaware limited liability  company,  on behalf  of  the  company,  who is either personally  known to  me or  has produced
 	 as identification.

Notary Public – State of  	

Notary Print Name

My Commission Expires: 	

SIGNATURE PAGE TO SECOND AMENDMENT TO EASEMENT AGREEMENT

Name: 	

Name: 		DISTRICT:

THE VILLAGE AT GULFSTREAM PARK COMMUNITY DEVELOPMENT DISTRICT

By:	 Name:	 Title: 	

ATTEST:

Secretary/Assistant Secretary	

STATE OF Florida	)
) SS:
COUNTY OF Broward	)

The foregoing instrument was acknowledged before me by means of [    ] physical presence or [ ]
online   notarization,   on   this 	day   of 	,   202_,   by 	as
 	 of the Board of Supervisors for THE VILLAGE AT GULFSTREAM PARK COMMUNITY DEVELOPMENT DISTRICT, who is either personally known to me or has produced
 	   as identification and who being duly sworn, deposes and says that the aforementioned is true and correct to his or her best knowledge.

Notary Public – State of  	

Notary Print Name
My Commission Expires: 	

STATE OF Florida	)
) SS:
COUNTY OF Broward	)

The foregoing instrument was acknowledged before me by means of [    ] physical presence or [ ]
online   notarization,   on   this 	day   of 	,   202_,   by 	as
Secretary/Assistant Secretary of the Board of Supervisors for THE VILLAGE AT GULFSTREAM PARK COMMUNITY DEVELOPMENT DISTRICT, who is either personally known to me or has produced 	as identification and who being duly sworn, deposes and says that the aforementioned is true and correct to his or her best knowledge.

Notary Public – State of  	

Notary Print Name
My Commission Expires: 	

THE VILLAGE AT GULFSTREAM PARK COMMUNITY DEVELOPMENT DISTRICT

Funding Request 249- 256

THE VILLAGE AT GULFSTREAM PARK
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. 249
10/14/2020

Item
No.	Payee	Invoice
Number	FY 2020
Amount	FY 2021
Amount	

1	
VGlobalTech
Monthly Website fee	

2040		

$125.00	
	Quarterly Audit of website	1987	$	300.00		
2	Sunsentinel
Legal ad 09/14/2020	
25909373000	
$	213.50		
3	PFM Group Consulting
Postage September 2020	
OE_EXP-01157	
$	16.00		

TOTAL	$	654.50

Secretary / Assistant Secretary	Chairperson

THE VILLAGE AT GULFSTREAM PARK
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. 250
10/22/2020

Item	Payee	Invoice	FY 2020	FY 2021	
No.		Number	Amount	Amount	

1	PFM Group Consulting
October DM fees	DM-10-2020-0057	$2,500.00

TOTAL	$ 2,500.00

Secretary / Assistant Secretary	Chairperson

THE VILLAGE AT GULFSTREAM PARK
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. 251
10/27/2020

Item
No.	Payee	Invoice
Number		FY 2020
Amount	FY 2021
Amount	

1	
Supervisor Fees
Leah Hatzikonstantinou	

5/8/2020	

$	

200.00		
	Leah Hatzikonstantinou	10/23/2020			$200.00	

TOTAL	$	400.00

Secretary / Assistant Secretary	Chairperson

THE VILLAGE AT GULFSTREAM PARK
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. 252
11/4/2020

Item
No.	Payee	Invoice
Number	FY 2020
Amount	FY 2021
Amount	

1	
Billing, Cochran, Lyles
Legal Counsel	

164007	

$ 2,365.00		

TOTAL	$ 2,365.00

Secretary / Assistant Secretary	Chairperson

THE VILLAGE AT GULFSTREAM PARK
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. 253
11/16/2020

Item
No.	Payee	Invoice
Number	FY 2021
Amount	

1	
PFM Group Consulting
DM Fees - November	

DM-11-2020-0052	

$ 2,500.00	
2	Sunsentinel Media Group
Legal ads	
0000	
$	365.90	
3	VGlobalTech
Monthly website fee	
2116	
$	125.00	

Chairperson

Chairperso

TOTAL	$ 2,990.90

Secretary / Assistant Secretary

THE VILLAGE AT GULFSTREAM PARK
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. 254
11/30/2020

Item
No.	Payee	Invoice
Number	FY 2021
Amount	

1	
Billing, Cochran Lyles
District Counsel	

165559	

$ 1,650.00	
2	PFM Group Consulting
Postage	
OE-EXP-11-47	
$	0.50	
3	Florida DEO
Annual Fee	
83319	
$	175.00	
4	Sunsentinel Media Group
Legal Ads	
27136357000	
$	365.90	
		
TOTAL	
$ 2,191.40	

Secretary / Assistant Secretary	Chairperson

THE VILLAGE AT GULFSTREAM PARK
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. 255
11/30/2020

Item
No.	Payee	Invoice
Number	FY 2021
Amount	

1	
Billing, Cochran, Lyles
District Counsel	

165049	

$ 3,135.00	

Chairperson

Chairperso

TOTAL	$ 3,135.00

Secretary / Assistant Secretary

THE VILLAGE AT GULFSTREAM PARK
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. 256
12/8/2020

Item
No.	Payee	Invoice
Number	FY 2021
Amount	

1	
VGlobalTech
Monthly Website maintenance	

2180	

$	100.00	

TOTAL	$	100.00

Secretary / Assistant Secretary	Chairperson

THE VILLAGE AT GULFSTREAM PARK COMMUNITY DEVELOPMENT DISTRICT

Financial Position

The Village at Gulfstream Park CDD
Statement of Financial Position As of 11/30/2020

General	Debt Service	Capital Projects	General Long-
Term Debt

Total

Assets

Current Assets
General Checking Account	$ 16,576.44				$	16,576.44	
Accounts Receivable - Due from Developer	17,856.20				17,856.20	
Debt Service Reserve Bond			$	0.03		0.03	
Debt Service Reserve Bond			2,412,483.12		2,412,483.12	
Revenue Bond			463,450.45		463,450.45	
User Fee Bond			16,398.41		16,398.41	
Custody Bond			16,735.92		16,735.92	
Total Current Assets	$ 34,432.64		$	2,909,067.93		 	
$	-	$	-	$	2,943,500.57	

Investments
Amount Available in Debt Service Funds				$ 2,909,067.93		$	2,909,067.93	
Amount To Be Provided	
			45,325,932.07		45,325,932.07	
Total Investments	$	-	$	-	$	-		$48,235,000.00		$	48,235,000.00	

 	 	 	 

Total Assets

$ 34,432.64

$	2,909,067.93	$

-	$48,235,000.00

$	51,178,500.57

Liabilities and Net Assets

Current Liabilities		
Accounts Payable	$ 18,350.90			$	18,350.90	
Deferred Revenue	17,856.20			17,856.20	
Total Current Liabilities	$ 36,207.10		$	 	
-	$	-	$	-	$	36,207.10	

Long Term Liabilities
Revenue Bonds Payable - Long-Term					$48,235,000.00		$	48,235,000.00	
Total Long Term Liabilities	$	-		$	-		
$	-	$48,235,000.00		$	48,235,000.00	
Total Liabilities	$ 36,207.10		$	-		
$	-	$48,235,000.00		$	48,271,207.10	

Net Assets								
Net Assets - Unrestricted	$	839.39						$	839.39	
Net Assets - General Government	4,827.55						4,827.55	
Current Year Net Assets - General Government	(7,441.40)						(7,441.40)	
Net Assets, Unrestricted			$	2,689,205.92				2,689,205.92	
Current Year Net Assets, Unrestricted			219,862.01		

		219,862.01
 	-		
Total Net Assets	$ (1,774.46)		$	2,909,067.93		$	-	$	-		$	2,907,293.47	

			
Total Liabilities and Net Assets	$ 34,432.64		$	2,909,067.93		$	-	$48,235,000.00		$	51,178,500.57	

Page 1 of 1

Lakeside Landing CDD Statement of Activities (YTD) As of 11/30/2020

General Fund

Revenues

On-Roll Assessments	$   18,192.41
Other Income & Other Financing Sources	10.00
Total Revenues	$   18,202.41

Insurance	$	2,132.00	
Management	5,833.34	
Engineering	3,050.00	
Property Appraiser	5,617.43	
Assessment Administration	5,000.00	
Postage & Shipping	25.10	
Miscellaneous	26.01	
Property Taxes	93.57	
Web Site Maintenance	200.00	
Dues, Licenses, and Fees	175.00	
Security	4,570.00	
Irrigation	257.74	
Amenity - Pool Maintenance	4,398.34	
Amenity - Janitorial	3,600.00	
Amenity - Pest Control	74.00	
Amenity - Security	303.10	
Amenity - Pool Furniture	16,772.52	
Amenity - Miscellaneous	200.00	
General Insurance	2,605.00	
Property & Casualty	5,279.00	
Lake Maintenance	3,763.62	
Landscaping Maintenance & Material	22,640.99	
Landscape Improvement	8,565.00	
Pest Control	74.00	
Streetlights	13,506.43	
Total Expenses	$ 108,762.19

her Revenues (Expenses) & Gains (Losses)	
Total Other Revenues (Expenses) & Gains (Losses)	$	-	
Change In Net Assets	$ (90,559.78)	

Net Assets At Beginning Of Year	
$ 244,507.77	

Net Assets At End Of Year	
$ 153,947.99	

Expenses

Ot

Page 1 of 1

The Village at Gulfstream Park CDD
Budget to Actual
For the Month Ending 11/30/2020

Year To Date

Actual	Budget	Variance

FY 2021
Adopted Budget

Revenues

Developer Contributions	$	15,610.00		$	19,455.84		$	(3,845.84)		$116,735.00	
Net Revenues	$	15,610.00		$	19,455.84		$	(3,845.84)		$116,735.00	

General & Administrative Expenses

Supervisor Fees	$	200.00		$	-		$	200.00		$	-	
Public Officials' Liability Insurance	4,226.00		750.00		3,476.00		4,500.00	
Trustee Services	-		1,666.66		(1,666.66)		10,000.00	
Management	5,000.00		5,000.00		-		30,000.00	
Engineering	-		833.34		(833.34)		5,000.00	
Dissemination Agent	-		83.34		(83.34)		500.00	
Property Appraiser	-		250.00		(250.00)		1,500.00	
District Counsel	1,650.00		5,000.00		(3,350.00)		30,000.00	
Assessment Administration	-		833.34		(833.34)		5,000.00	
Reamortization Schedules	-		83.34		(83.34)		500.00	
Audit	-		816.66		(816.66)		4,900.00	
Arbitrage Calculation	-		108.34		(108.34)		650.00	
Travel and Per Diem	-		66.66		(66.66)		400.00	
Telephone	-		33.34		(33.34)		200.00	
Postage & Shipping	0.50		16.66		(16.16)		100.00	
Copies	-		16.66		(16.66)		100.00	
Legal Advertising	365.90		250.00		115.90		1,500.00	
Miscellaneous	-		1,285.00		(1,285.00)		7,710.00	
Web Site Maintenance	250.00		450.00		(200.00)		2,700.00	
Dues, Licenses, and Fees	175.00		29.16		145.84		175.00	
General Insurance	4,522.00		783.34		3,738.66		4,700.00	
Property & Casualty	6,662.00		1,100.00		5,562.00		6,600.00	
Total General & Administrative Expenses	$	23,051.40		$	19,455.84		$	3,595.56		$116,735.00	
Total Expenses	   $	23,051.40 		  $	19,455.84 		  $	3,595.56 		  $116,735.00 	
Net Income (Loss)	$	(7,441.40)		$	-		$	(7,441.40)		$	-	

Page 1 of 1

THE VILLAGE AT GULFSTREAM PARK COMMUNITY DEVELOPMENT DISTRICT

Staff Reports