community development district agenda june 15, 2017 · 6/15/2017 · the board of supervisors of...

CORY LAKES COMMUNITY DEVELOPMENT

DISTRICT

REGULAR MEETING

AGENDA

June 15, 2017

Cory Lakes Community Development District OFFICE OF THE DISTRICT MANAGER

2300 Glades Road, Suite 410W●Boca Raton, Florida 33431 Phone (561) 571-0010●Fax (561) 571-0013●Toll-free: (877) 276-0889

June 8, 2017

Board of Supervisors

Cory Lakes Community Development District

Dear Board Members:

The Board of Supervisors of the Cory Lakes Community Development District will hold a

Regular Meeting on Thursday, June 15, 2017 at 6:00 p.m., at the Cory Lake Beach Club,

10441 Cory Lake Drive, Tampa, Florida 33647. The agenda is as follows:

1. Call to Order/Roll Call

2. Chairman’s Opening Comments

3. Public Comments (agenda items) [3 minutes per speaker]

4. Presentation: Security - Jason Hamilton, Alert Services

5. Presentation: Holiday Lighting Proposals (to be provided under separate cover)

6. Committee Reports

A. Security

B. Finance

C. Landscape Aquascape Facilities

D. Ad-hoc Tennis Committee

7. Consideration of Award of Landscape Maintenance Contract

8. Discussion/Review: Proposed Fiscal Year 2018 Budget

9. Continued Discussion: Boat Dock ADA Deficiency

10. Continued Discussion: Presentation/Discussion: New Gym Design

A. Financing Estimates/Assessments

B. Survey

ATTENDEES: Please identify yourself each time you speak to facilitate accurate transcription of meeting minutes.

Board of Supervisors

Cory Lakes Community Development District

June 15, 2017, Regular Meeting Agenda

Page 2

11. Correspondence from Republic Services Insurance Carrier Regarding Counter Offer

12. Approval of Minutes

A. May 18, 2017

i. Summary of Motions

ii. Board of Supervisors Staff Directives

iii. Board of Supervisors Meeting

B. June 5, 2017 Security Committee Meeting

C. June 6, 2017 LAF Committee Meeting

D. May 30, 2017 – June 13, 2017 Sunshine Board (to be provided under separate

cover)

E. Other

13. Acceptance of Unaudited Financial Statements as of April 30, 2017

14. Staff Reports

A. District Engineer

B. Office Administrator

C. Facilities Manager

D. District Manager

i. NEXT MEETING DATE: July 20, 2017 at 6:00 P.M.

15. Other Business

16. Public Comments (non-agenda items)

17. Supervisors’ Requests

18. Adjournment

Should you have any questions and/or concerns, please contact me directly at 239-464-7114.

Sincerely,

Chesley E. Adams, Jr.

District Manager

FOR BOARD MEMBERS AND STAFF TO ATTEND BY TELEPHONE:

CALL IN NUMBER: 1-888-354-0094

CONFERENCE ID: 8593810

Resident Credentials

Cory Lakes CDD 2018 Budget Survey - Part 1: Generate Ideas

1. Enter your street address (street number & name)*

2. email address*

Dear CLI Resident,

We took your input from last year's budget survey to improve our community in the following ways:Added soccer goals and the volleyball court, maintained our street palms in front of our homes as acommunity-wide service, cleaned the sidewalks in front of homes and the gutters community-wideand invested more heavily in our street paver repair and renewal program.

This 2018 survey is the first of a three-part survey process. For this first part, we will only ask onesimple question: How can we improve our community? Please keep in mind, the CDD can onlyaddress public areas (not private property).

Thank you for your giving us your input and contributing to the continuous improvement of ourcommunity.

The CDD Board

Purpose of this Survey


For convenience, you can copy/paste into the textbox from a document editor. Comments arelimited to 500 words.

Single Question Survey


3. What do you think the CDD could do to improve our community?*

1

CORY LAKES

FISCAL YEAR 2018PROPOSED BUDGET

COMMUNITY DEVELOPMENT DISTRICT

UPDATED MAY 8, 2017

DescriptionPage

Number(s)

General Fund Budget 1 - 4

Definitions of general fund expenditures 5 - 10

Debt Service Fund Budget - Series 1996A/B Bonds 11

Debt Service Fund Budget - Series 2013 Bonds 12

Amortization Schedule - Series 2013 Bonds 13

Debt Service Fund Budget - Series 2013 Refunding Bonds 14

Amortization Schedule - Series 2013 Refunding Bonds 15

Debt Service Fund Budget - Series 2017 Notes 16

Amortization Schedule - Series 2017 Notes 17

Assessment Summary 18

CORY LAKES

TABLE OF CONTENTSCOMMUNITY DEVELOPMENT DISTRICT

1

AdoptedBudget

FY 2017

Actualthrough

3/31/2017

Projectedthrough

9/30/2017

Total Revenueand

Expenditures

ProposedBudget

FY 2018REVENUESAssessment levy: all residents 1,847,990$ 1,848,003$ Assessment levy: Cachet 2,713 2,170 Allowable discounts (4%) (74,028) (74,007)

Assessment levy - net 1,776,675 1,682,814$ 93,861$ 1,776,675$ 1,776,166 Interest and miscellaneous 25,000 23,929 7,500 31,429 30,000

Total revenues 1,801,675 1,706,743 101,361 1,808,104 1,806,166

EXPENDITURESProfessional & adminSupervisors 12,000 4,000 6,000 10,000 12,000 Payroll services 600 345 414 759 600 Payroll taxes - FICA 900 306 459 765 900 Payroll taxes - unemployment 325 - 325 325 325 District management 55,000 27,500 27,500 55,000 55,000 Assessment roll preparation 5,000 2,500 2,500 5,000 5,000 Bond amortization schedule fee 1,500 - 1,500 1,500 1,500 Disclosure report 3,000 - 3,000 3,000 3,000 Trustee 10,182 10,182 - 10,182 10,182 Notes payable - Soave Group - DS 21,733 - 21,733 21,733 21,733 Audit 6,400 3,000 3,400 6,400 6,400 Arbitrage rebate calculation 2,500 - 2,500 2,500 2,500 Legal - general counsel 5,000 5,343 3,500 8,843 5,000 Engineering 10,000 6,760 3,240 10,000 10,000 Insurance: general liability & public officials 26,700 28,229 - 28,229 26,700 Insurance: worker's compensation 6,291 6,041 - 6,041 6,291 Legal advertising 3,000 - 750 750 1,500 Bank fees 200 668 700 1,368 1,500 Dues & licenses 175 175 - 175 175 Postage 1,690 742 750 1,492 1,500 Office supplies - 26 - 26 - Tax collector 74,028 33,653 40,375 74,028 74,007 Contingencies 500 - 500 500 500

Total professional & admin 246,724 129,470 119,146 248,616 246,313

Fiscal Year 2017

CORY LAKESCOMMUNITY DEVELOPMENT DISTRICT

GENERAL FUND BUDGETFISCAL YEAR 2016

2

AdoptedBudget

FY 2017

Actualthrough

3/31/2017

Projectedthrough

9/30/2017

Total Revenueand

Expenditures

ProposedBudget

FY 2018

Fiscal Year 2017



EXPENDITURES (continued)Field OperationsUtilies

Communication 13,000 10,009 5,000 15,009 15,000 Website 1,020 210 300 510 600 Streetlights 120,000 57,289 35,000 92,289 65,000 Electricity 63,000 21,348 27,000 48,348 50,000 Propane 400 403 - 403 400 Water, sewer & irrigation 12,500 9,424 7,500 16,924 15,000 Solid waste removal 6,200 3,686 2,500 6,186 6,200 Sewer lift stations 2,500 750 1,000 1,750 2,500

Security operationsSecurity staffing contract services 256,500 110,281 146,219 256,500 256,500 Contractual Virtual Guard 77,000 32,926 44,074 77,000 77,000

Field office administrationField manager 47,500 24,785 25,000 49,785 52,000 Office administrator 42,500 27,012 15,488 42,500 44,500 Payroll taxes 9,000 4,522 4,478 9,000 9,400 Seasonal decorations 26,000 24,000 2,000 26,000 33,000 Beach club office equipment 4,075 1,630 1,700 3,330 3,400 Beach club office suppies 2,000 806 850 1,656 1,700 Beach club gym supples 12,300 6,809 6,800 13,609 14,000 Guard office equipment 1,000 1,124 750 1,874 2,000 Guard office supplies 2,000 665 750 1,415 2,000 Community events coordinator 15,000 15,000 - 15,000 15,000 Community events supplies 15,000 1,241 13,759 15,000 15,000 Special residential mailing 3,000 - - - - Pool & beach club attendants 44,000 7,321 36,679 44,000 44,000

3

AdoptedBudget

FY 2017

Actualthrough

3/31/2017

Projectedthrough

9/30/2017

Total Revenueand

Expenditures

ProposedBudget

FY 2018

Fiscal Year 2017



EXPENDITURES (continued)Property maintenanceLandscape Maintenance

Landscaping 265,000 127,800 137,200 265,000 265,000 Street Tree Maintenance 67,000 28,880 38,120 67,000 67,000 Mulch 56,000 49,574 6,426 56,000 56,000 Beach sand 4,500 4,992 - 4,992 5,500 Annuals & seasonal plant installation 9,000 3,250 4,000 7,250 8,000 Plant replacement 40,000 9,531 30,469 40,000 40,000 Sod replacement 10,000 - 5,000 5,000 7,500 Well maintenance - irrigation 6,000 1,593 3,000 4,593 5,000 Irrigation - maintenance 12,500 3,798 5,000 8,798 10,000 Tree removal and replacement 25,000 10,748 14,252 25,000 25,000 Lake & pond maintenance 45,000 27,634 23,000 50,634 52,000

Facilities maintenanceOutside facilities maintenance 35,000 16,547 18,453 35,000 35,000 Car and Cart Repairs and maintenance 4,500 1,466 3,034 4,500 4,500 Cleaning 14,000 7,774 7,775 15,549 16,000 Pest control 2,000 900 1,100 2,000 2,000 Security gate maintenance & repair 5,000 5,517 2,500 8,017 5,000 Security gate maintenance & repair - Cachet 2,500 - 1,500 1,500 2,000 Monuments & signs 5,000 3,695 1,305 5,000 5,000 Fountains 7,000 - 5,000 5,000 7,000 Storm water drainage 10,000 - 10,000 10,000 20,000 Storage 1,500 - - - - Recreation equipment maintenance & repair 15,000 8,890 9,000 17,890 15,000 Building equipment maintenance & repair 20,000 14,143 5,857 20,000 20,000 Pressure washing 15,000 2,200 2,500 4,700 5,000 Paver, streets and sidewalk repairs, cleaning 125,000 33,192 91,808 125,000 125,000 Clean & repair monument lanterns 2,500 606 750 1,356 1,500 Commercial window cleaning and Janitorial 2,500 - 2,500 2,500 2,500

Facilities maintenance (pool) - Pool maintenance 22,900 8,100 14,800 22,900 22,900 Pool repairs 15,000 525 10,000 10,525 12,000 Pool heater utilities 15,000 11,905 2,000 13,905 15,000 Pool janitorial services 2,500 - - - - Pool permit 575 - 575 575 575

Capital improvement program 25,000 111,445 125,000 236,445 - Total field expenses 1,662,970 855,946 958,771 1,814,717 1,581,175 Total expenditures 1,909,694 985,416 1,077,917 2,063,333 1,827,488

4

AdoptedBudget

FY 2017

Actualthrough

3/31/2017

Projectedthrough

9/30/2017

Total Revenueand

Expenditures

ProposedBudget

FY 2018

Fiscal Year 2017



EXPENDITURES (continued)Excess/(deficiency) of revenues

over/(under) expenditures (108,019) 721,327 (976,556) (255,229) (21,322)

Fund balance - beginning (unaudited) 1,323,241 1,350,081 2,071,408 1,350,081 1,094,852 Fund balance - ending (projected)

Assigned3 months working capital 477,424 477,424 477,424 477,424 456,872

Unassigned 737,798 1,593,984 617,428 617,428 616,658 Fund balance - ending 1,215,222$ 2,071,408$ 1,094,852$ 1,094,852$ 1,073,530$

5

EXPENDITURESProfessional and Administrative ServicesSupervisors 12,000$

Statutorily set at $200 per Supervisor for each meeting of the Board ofSupervisors not to exceed $4,800 for each fiscal year.

Payroll services 600

Payroll taxes - FICA 900

Payroll taxes - unemployment 325 District management 55,000

Assessment roll preparation 5,000

Bond amortization schedule fee 1,500 Disclosure report 3,000

The District must annually disseminate financial information in order tocomply with the requirements of Rule 15c2-12 under the Securities &Exchange Act of 1934.

Trustee 10,182

Notes payable - Soave Group - DS 21,733 This is annual repayment of a $150K note to acquire certain recreationalfacilities and which will mature July 1, 2020.

Audit 6,400

Arbitrage rebate calculation 2,500

Legal - general counsel 5,000 Straley, Robin, PA., provides on-going general counsel and legalrepresentation. Attorneys attend the noticed Board meetings in order toanticipate and deal with possible legal issues as they may arise and torespond to questions. In this capacity, as local government lawyers, realizethat this type of local government is very limited in its scope - providinginfrastructure and service to development.

10,000 Stantec, Inc. provides an array of engineering, consulting, and constructionservices to the Districts, assisting them in crafting solutions withsustainability for the long-term interests of the communities, whilerecognizing the needs of the government, environment and maintenanceof the communities' facilities.

CORY LAKES

Wrathell, Hunt and Associates, LLC specializes in managing communitydevelopment districts in the State of Florida by combining the knowledge,skills and experience of a team of professionals to ensure compliance withall governmental requirements of the District, develop financing programs,administer the issuance of tax exempt bonds and operate & maintain theassets of the community.

The District is required to undertake an independent examination of itsbooks, records and accounting procedures each year. The District hasengaged Grau and Associates, Inc to provide this service.

To ensure the District's compliance with all tax regulations, annualcomputations are necessary to calculate the arbitrage rebate liability.

Services for preparing, maintaining and transmitting the annual lien rollwith the annual special assessment amounts for the operating,maintenance and capital assessments. This was titled "financial consultingservices" in the previous fiscal year.

COMMUNITY DEVELOPMENT DISTRICTDEFINITIONS OF GENERAL FUND EXPENDITURES

FICA tax is currently 7.65%.

Payroll for District employees is provided by ADP Corporation

Annual fees paid to U.S. Bank for acting as trustee, paying agent andregistrar.

Engineering

6


DEFINITIONS OF GENERAL FUND EXPENDITURES

EXPENDITURES (continued)Insurance: general liability & public officials 26,700

The Districts carry public officials and general liability insurance with a limitof liability set at $1,000,000 for general liability ($2,000,000 generalaggregate) and $1,000,000 for public officials liability.

Insurance: worker's compensation 6,291 The Districts worker's compensation for the District employees.

Legal advertising 1,500

Bank fees 1,500

Dues & licenses 175

Postage 1,500 For mailing out agenda packages and debt service payments.

Tax collector 74,007

Contingencies 500 Field OperationsUtilies

Communication 15,000 Intended to provide for the cost of communications related provider forphone, cable, internet etc at the Beach Club and gatehouses.

Website 600 Intended to cover the cost associated with annual registration andmaintenance of the District's website.

Streetlights 65,000 Intended to cover the cost paid to TECO for the District's streetlightmaintenance and power.

Electricity 50,000 Intended to cover the cost for electricity at all the District's facilities.

Propane 400 Intended to cover the cost of propane for the District's facilities.

Water, sewer & irrigation 15,000 Intended to cover the cost of water and sewer services provided to theDistrict's facilities.

Solid waste removal 6,200 Intended to cover the cost of the dumpster at the Beach Club and the porto let provided for the landscape maintenance contractor.

Sewer lift stations 2,500 Intended to cover the cost of operating and maintaining the District's liftstation.

Security operationsSecurity staffing contract services 256,500

The District contracts with US Security Associates for the personnelservices required for guardhouse and roving patrol services.

Contractual Virtual Guard 77,000 Covers cost of 5 year financing of new virtual guard equipment at MorrisBridge entry, Pool and Beach Club and new software as well as providingcertain virtual guard services.

Bank charges incurred during the year.

Annual fee paid to the Florida Department of Economic Opportunity.

The tax collector's fee is 2% of assessments collected.

The District advertises for monthly meetings, special meetings, publichearings, public bids, etc.

7



EXPENDITURES (continued)Field office administration

Field manager 52,000 The District directly employs an on site Field Manager who oversees anddirects contract service providers, operates and maintains various Districtfacilities and attends District Board and certain committee meetingsproviding updates, reports and recommendations.

Office administrator 44,500 The District directly employs an on site Office Administrator who, amongother things, provides over site of daily operations and administers the useof the Beach Club facilities, interacts with residents and visitors regardingconcerns and inquiries, over sees and coordinates various residentcommunication venues, receives, reviews and coordinates approval ofinvoices weekly with Management company and attends District Board andcertain committee meetings providing updates, reports andrecommendations.

Payroll taxes 9,400 Intended to provide for the cost of payroll taxes associated with the onsiteemployee payroll.

Seasonal decorations 33,000 Intended to provide for the supply and install of seasonal decorations at theDistrict Facilities.

Beach club office equipment 3,400 Intended to provide for the purchase and/or leasing of miscellaneous officeequipment.

Beach club office suppies 1,700 Intended to provide for miscellaneous office supplies.

Beach club gym supples 14,000 Intended to provide for lease and maintenance of certain equipment aswell as miscellaneous supplies.

Guard office equipment 2,000 Intended to provide for the purchase and/or leasing of miscellaneous officeequipment.

Guard office supplies 2,000 Intended to provide for miscellaneous office supplies.

Community events coordinator 15,000 The District contracts with a third party provider to schedule, coordinateand administer periodic special events.

Community events supplies 15,000 Intended to provide for the cost of supplies associated with periodic specialevents.

Pool & beach club attendants 44,000 Intended to provide for the costs of part time employees to provide variousservices around the pool.

8



EXPENDITURES (continued)Landscape Maintenance

Landscaping 265,000 The District contracts with a qualified and licensed contractor to providedlandscape maintenance services within the District common areas andright of ways.

Street Tree Maintenance 67,000 Covers the costs associated with trimming and maintaining the communities street trees within the right of way easement adjacent to homes

Mulch 56,000 Intended to provide for the seasonal application of mulch within theDistrict's common areas and right of ways.

Beach sand 5,500 Intended to provide for the periodic replenishment of sand at the BeachClub beach.

Annuals & seasonal plant installation 8,000 Intended to provide for the seasonal installation of annual flowers at highfocal point locations within the District's common areas and right of ways.

Plant replacement 40,000 Intended to provide for the replacement of dead or deteriorated plantswithin the District's common areas and right of ways that are not the resultof the maintenance contractor's negligence.

Sod replacement 7,500 Intended to provide for the replacement of dead or deteriorated sod withinthe District's common areas and right of ways that is not the result of themaintenance contractor's negligence.

Well maintenance - irrigation 5,000 Intended to provide for the costs of repairs, maintenance and periodicreplacements of well pumps, motors and controls.

Irrigation - maintenance 10,000 Intended to provide for the costs of repairs and maintenance to thesprinkler systems within the District's common areas and right of ways thatare not as a part of the landscape maintenance contract.

Tree removal and replacement 25,000 Intended to provide for the costs of removing and/or replacing tree withinthe District's common areas and right of ways.

Lake & pond maintenance 52,000 The District contracts with a qualified and licensed contractor for themaintenance of algae, submersed vegetation, and nuisance bank grassesthat if not properly maintained could otherwise impede the lake systemsability to properly receive, pre-treat and convey storm water as designed.

Facilities maintenanceOutside facilities maintenance 35,000

Intended to provide for the costs of small equipment and suppliesnecessary in the day to day maintenance of various District facilities.

Car and Cart Repairs and maintenance 4,500 Intended to provide for the routine repairs and maintenance associatedwith the Patrol vehicle and maintenance cart.

Cleaning 16,000 Intended to provide for the routine cleaning of the gatehouses and BeachClub.

9



EXPENDITURES (continued)Pest control 2,000

Intended to provide for the periodic treatment for pests at the Beach Cluband Gatehouses.

Security gate maintenance & repair 5,000 Intended to provide for the costs of repairs and maintenance to thegatehouses.

Security gate maintenance & repair - Cachet 2,000 Intended to provide for the costs of repairs and maintenance to the gateand associated equipment specific to the entrance to Catchet Isle. (paidsolely by the residents of Catchet Isles)

Monuments & signs 5,000 Intended to provide for the repairs and maintenance of the entrymonuments and roadway signage.

Fountains 7,000 Intended to provide for the repairs and maintenance of the District'sfountains.

Storm water drainage 20,000 Intended to provide for the periodic inspection and cleaning of the District'sroadway drainage inlets and lake interconnecting pipes.

Recreation equipment maintenance & repair 15,000 Intended to provide for repair and maintenance of the Districts recreationalequipment at the Beach Club and Tennis Courts.

Building equipment maintenance & repair 20,000 Intended to provide for repair and maintenance of the Beach Club buildingand associated systems.

Pressure washing 5,000 Intended to provide for the periodic pressure washing of the District'sfacilities.

Paver, streets and sidewalk repairs, cleaning 125,000 Intended to provide for periodic repair, maintenance and pressure washingof the Districts roadways, sidewalks, gutters and parking lots.

Clean & repair monument lanterns 1,500 Intended to provide for cleaning and repair of the Districts monumentlights.

Commercial window cleaning and Janitorial 2,500 Intended to provide for periodic window washing at the Beach Club andGatehouse.

Facilities maintenance (pool)Pool maintenance 22,900

Intended to cover the cost associated with routine cleaning, water testingand water chemistry services at the District's pool.

Pool repairs 12,000 Intended to provide for repairs and maintenance to the District's poolpumps, motors and controls system.

10



EXPENDITURES (continued)Pool heater utilities 15,000

Intended to provide for the seasonal utility costs associated with operatingthe heaters at the District's pool.

Pool permit 575 Intended to cover the cost of renewing the Health Department permitassociated with operating the District's pool.

Total Expenditures 1,827,488$

11

AdoptedBudget

FY 2017

Actualthrough

3/31/2017

Projectedthrough

9/30/2017

TotalRevenue &

Expenditures

ProposedBudget

FY 2018REVENUEAssessment levy - gross -$ -$ Allowable discounts (4%) - -

Assessment levy - net - 15,286$ -$ 15,286$ - Interest - 117 - 117 -

Total revenue - 15,403 - 15,403 -

EXPENDITURESDebt servicePrincipal prepayment - 35,000 - 35,000 - Principal 1996A 110,000 - 80,000 80,000 - Principal 1996B 335,000 - 320,000 320,000 - Interest 1996A 4,606 4,187 3,350 7,537 - Interest 1996B 14,028 14,028 13,400 27,428 -

463,634 53,215 416,750 469,965 -

Excess/(deficiency) of revenuesover/(under) expenditures (463,634) (37,812) (416,750) (454,562) -

OTHER FINANCING SOURCES/(USES)Transfer in 240,000 - 235,000 235,000 -

Total other financing sources/(uses) 240,000 - 235,000 235,000 -

Net change in fund balances (223,634) (37,812) (181,750) (219,562) - Beginning fund balance (unaudited) 329,641 348,700 310,888 348,700 129,138 Ending fund balance (projected) 106,007$ 310,888$ 129,138$ 129,138$ 129,138$

Total expenditures

Fiscal Year 2017


DEBT SERVICE FUND BUDGET - SERIES 1996A/B BONDSFISCAL YEAR 2018

12

AdoptedBudget

FY 2017

Actualthrough

3/31/2017

Projectedthrough

9/30/2017

TotalRevenue &

Expenditures

ProposedBudget

FY 2018REVENUEAssessment levy - gross 108,499$ 112,710$ Allowable discounts (4%) (4,340) (4,508)

Assessment levy - net 104,159 98,563$ 5,596$ 104,159$ 108,202 Interest - 39 39 78 -

Total revenue 104,159 98,602 5,635 104,237 108,202

EXPENDITURESDebt servicePrincipal 20,000 20,000 - 20,000 25,000 Interest 79,819 40,159 40,159 80,318 78,694

Total debt service 99,819 60,159 40,159 100,318 103,694

Other fees & chargesTax collector 4,340 1,971 2,369 4,340 4,508

Total other fees & charges 4,340 1,971 2,369 4,340 4,508 104,159 62,130 42,528 104,658 108,202

Net change in fund balances - 36,472 (36,893) (421) -

Beginning fund balance (unaudited) 143,196 147,188 183,660 147,188 146,767 Ending fund balance (projected) 143,196$ 183,660$ 146,767$ 146,767$ 146,767

Use of fund balance:Debt service reserve account balance (required) (51,024) Principal expense - November 1, 2018 (25,000) Interest expense - November 1, 2018 (39,034) Projected fund balance surplus/(deficit) as of September 30, 2018 56,709$

Total expenditures

Fiscal Year 2017


DEBT SERVICE FUND BUDGET - SERIES 2013 BONDSFISCAL YEAR 2018

13

CORY LAKESCommunity Development District Series 2013 Bonds

Debt Service Schedule Date Principal Coupon Interest Total P+I

11/01/2016 20,000.00 5.000% 40,159.38 60,159.3805/01/2017 - 39,659.38 39,659.3811/01/2017 25,000.00 5.000% 39,659.38 64,659.3805/01/2018 - 39,034.38 39,034.3811/01/2018 25,000.00 5.000% 39,034.38 64,034.3805/01/2019 38,409.38 38,409.3811/01/2019 25,000.00 5.000% 38,409.38 63,409.3805/01/2020 37,784.38 37,784.3811/01/2020 25,000.00 5.000% 37,784.38 62,784.3805/01/2021 37,159.38 37,159.3811/01/2021 30,000.00 5.000% 37,159.38 67,159.3805/01/2022 36,409.38 36,409.3811/01/2022 30,000.00 5.000% 36,409.38 66,409.3805/01/2023 35,659.38 35,659.3811/01/2023 30,000.00 5.000% 35,659.38 65,659.3805/01/2024 34,909.38 34,909.3811/01/2024 35,000.00 5.625% 34,909.38 69,909.3805/01/2025 33,925.00 33,925.0011/01/2025 35,000.00 5.625% 33,925.00 68,925.0005/01/2026 32,940.63 32,940.6311/01/2026 35,000.00 5.625% 32,940.63 67,940.6305/01/2027 31,956.25 31,956.2511/01/2027 40,000.00 5.625% 31,956.25 71,956.2505/01/2028 30,831.25 30,831.2511/01/2028 40,000.00 5.625% 30,831.25 70,831.2505/01/2029 29,706.25 29,706.2511/01/2029 45,000.00 5.625% 29,706.25 74,706.2505/01/2030 28,440.63 28,440.6311/01/2030 45,000.00 5.625% 28,440.63 73,440.6305/01/2031 27,175.00 27,175.0011/01/2031 50,000.00 5.625% 27,175.00 77,175.0005/01/2032 25,768.75 25,768.7511/01/2032 50,000.00 5.625% 25,768.75 75,768.7505/01/2033 24,362.50 24,362.5011/01/2033 55,000.00 5.625% 24,362.50 79,362.5005/01/2034 22,815.63 22,815.6311/01/2034 55,000.00 6.125% 22,815.63 77,815.6305/01/2035 21,131.25 21,131.2511/01/2035 60,000.00 6.125% 21,131.25 81,131.2505/01/2036 19,293.75 19,293.7511/01/2036 65,000.00 6.125% 19,293.75 84,293.7505/01/2037 17,303.13 17,303.1311/01/2037 70,000.00 6.125% 17,303.13 87,303.1305/01/2038 15,159.38 15,159.3811/01/2038 70,000.00 6.125% 15,159.38 85,159.3805/01/2039 13,015.63 13,015.6311/01/2039 75,000.00 6.125% 13,015.63 88,015.6305/01/2040 10,718.75 10,718.7511/01/2040 80,000.00 6.125% 10,718.75 90,718.7505/01/2041 8,268.75 8,268.7511/01/2041 85,000.00 6.125% 8,268.75 93,268.7505/01/2042 5,665.63 5,665.6311/01/2042 90,000.00 6.125% 5,665.63 95,665.6305/01/2043 2,909.38 2,909.3811/01/2043 95,000.00 6.125% 2,909.38 97,909.38

Total $1,385,000.00 - $1,440,984.38 $2,825,984.38

$1,425,000

14

AdoptedBudget

FY 2017

Actualthrough

3/31/2017

Projectedthrough

9/30/2017

TotalRevenue &

Expenditures

ProposedBudget


Assessment levy - net 528,469 498,655$ 29,814$ 528,469$ 526,886 Interest - 148 148 296 -

Total revenue 528,469 498,803 29,962 528,765 526,886

EXPENDITURESDebt servicePrincipal 420,000 - 420,000 420,000 430,000 Principal prepayment - - - - 10,000 Interest 86,449 43,224 48,916 92,140 74,932

Total debt service 506,449 43,224 468,916 512,140 514,932



Net change in fund balances - 445,606 (451,001) (5,395) (10,000)

Beginning fund balance (unaudited) 329,077 352,738 798,344 352,738 347,343 Ending fund balance (projected) 329,077$ 798,344$ 347,343$ 347,343$ 337,343

Use of fund balance:Debt service reserve account balance (required) (250,852) Interest expense - November 1, 2018 (31,572) Projected fund balance surplus/(deficit) as of September 30, 2018 54,919$

Total expenditures


DEBT SERVICE FUND BUDGET - SERIES 2013 REFUNDING BONDSFISCAL YEAR 2018

Fiscal Year 2017

15

CORY LAKESCommunity Development District Series 2013 Refunding Bonds

Debt Service Schedule

Date Principal Coupon Interest Total P+I11/01/2016 43,224.50 43,224.5005/01/2017 420,000.00 2.710% 43,224.50 463,224.5011/01/2017 37,533.50 37,533.5005/01/2018 430,000.00 2.710% 37,398.00 467,398.0011/01/2018 31,571.50 31,571.5005/01/2019 440,000.00 2.710% 31,571.50 471,571.5011/01/2019 25,609.50 25,609.5005/01/2020 455,000.00 2.710% 25,609.50 480,609.5011/01/2020 19,444.25 19,444.2505/01/2021 465,000.00 2.710% 19,444.25 484,444.2511/01/2021 13,143.50 13,143.5005/01/2022 480,000.00 2.710% 13,143.50 493,143.5011/01/2022 6,639.50 6,639.5005/01/2023 490,000.00 2.710% 6,639.50 496,639.50

Total $3,180,000.00 - $354,197.00 $3,534,197.00

$4,245,000

16

AdoptedBudget

FY 2017

Actualthrough

3/31/2017

Projectedthrough

9/30/2017

TotalRevenue &

Expenditures

ProposedBudget


Assessment levy - net 58,852 55,587$ 3,265$ 58,852$ 54,928 Total revenue 58,852 55,587 3,265 58,852 54,928

EXPENDITURESDebt serviceNote Principal 45,470 - - - 44,000 Note Interest 5,938 - - - 8,651

Total debt service 51,408 - - - 52,651



Excess/(deficiency) of revenuesover/(under) expenditures 4,992 54,476 1,924 56,400 (12)

OTHER FINANCING SOURCES/(USES)Note proceeds 250,000 - 235,000 235,000 - Legal fees - - (15,000) (15,000) - Commitment fee - - (1,175) (1,175) - Transfer out (240,000) - (208,825) (208,825) -

Total other financing sources/(uses) 10,000 - 10,000 10,000 -

Net change in fund balances 14,992 54,476 11,924 66,400 (12) Beginning fund balance (unaudited) - - 54,476 - 66,400 Ending fund balance (projected) 14,992$ 54,476$ 66,400$ 66,400$ 66,389

Use of fund balance:Debt service reserve account balance (required) (10,000) Principal payment expense - November 1, 2018 (45,000) Interest expense - November 1, 2018 (3,820) Projected fund balance surplus/(deficit) as of September 30, 2018 7,569$

Total expenditures


DEBT SERVICE FUND BUDGET - SERIES 2017 NOTEFISCAL YEAR 2018

Fiscal Year 2017

17

CORY LAKESCommunity Development District Series 2017 Note


Date Principal Coupon Interest Total P+I11/01/2017 44,000.00 4.000% 4,830.56 48,830.5605/01/2018 3,820.00 3,820.0011/01/2018 45,000.00 4.000% 3,820.00 48,820.0005/01/2019 2,920.00 2,920.0011/01/2019 47,000.00 4.000% 2,920.00 49,920.0005/01/2020 1,980.00 1,980.0011/01/2020 49,000.00 4.000% 1,980.00 50,980.0005/01/2021 1,000.00 1,000.0011/01/2021 50,000.00 4.000% 1,000.00 51,000.00

Total $235,000.00 - $24,270.56 $259,270.56

$235,000

18

CDD Land Use/Phase

Number of Units Series 2017

Series 2013 REF Series 2013 O&M Cachet Isles

x 67 $0.00 $0.00 $0.00 $0.00 $0.00O&M Cl 1 $0.00 $0.00 $0.00 $1,924.99 $48.27

O&M 1.2 Cl 1 $0.00 $0.00 $0.00 $1,924.99 $57.93O&M 29 $0.00 $0.00 $0.00 $1,924.99 $0.00

1.1, 1.4 and 1.5 113 $0.00 $0.00 $0.00 $1,924.99 $0.001.1 Cl 5 $0.00 $0.00 $0.00 $1,924.99 $48.27

1.11 and 1.51 2 $0.00 $0.00 $0.00 $3,849.98 $0.001.2 Cl 35 $0.00 $0.00 $0.00 $1,924.99 $57.931.3 Cl 7 $0.00 $0.00 $0.00 $1,924.99 $48.27

2 121 $0.00 $0.00 $0.00 $1,924.99 $0.002.0 96B 1 $0.00 $0.00 $0.00 $1,924.99 $0.00

2.0 96AB 13 $4,086.96 $0.00 $0.00 $1,924.99 $0.002.1 96B 1 $8,173.92 $0.00 $0.00 $3,849.98 $0.00

3 92 $0.00 $1,142.91 $0.00 $1,924.99 $0.004 77 $0.00 $478.21 $0.00 $1,924.99 $0.005 252 $0.00 $1,621.11 $0.00 $1,924.99 $0.006 92 $0.00 $0.00 $0.00 $1,924.99 $0.007 115 $0.00 $0.00 $943.47 $1,924.99 $0.00

1024

CDD Land Use/Phase

Number of Units Series 2017

Series 2013 REF Series 2013 O&M Cachet Isles

x 67 $0.00 $0.00 $0.00 $0.00 $0.00O&M Cl 1 $0.00 $0.00 $0.00 $1,925.00 $38.61

O&M 1.2 Cl 1 $0.00 $0.00 $0.00 $1,925.00 $46.33O&M 29 $0.00 $0.00 $0.00 $1,925.00 $0.00

1.1, 1.4 and 1.5 113 $0.00 $0.00 $0.00 $1,925.00 $0.001.1 Cl 5 $0.00 $0.00 $0.00 $1,925.00 $38.61

1.11 and 1.51 2 $0.00 $0.00 $0.00 $3,850.01 $0.001.2 Cl 35 $0.00 $0.00 $0.00 $1,925.00 $46.331.3 Cl 7 $0.00 $0.00 $0.00 $1,925.00 $38.61

2 121 $0.00 $0.00 $0.00 $1,925.00 $0.002.0 96B 1 $0.00 $0.00 $0.00 $1,925.00 $0.00

2.0 96AB 13 $4,086.96 $0.00 $0.00 $1,925.00 $0.002.1 96B 1 $8,173.92 $0.00 $0.00 $3,850.01 $0.00

3 92 $0.00 $1,139.49 $0.00 $1,925.00 $0.004 77 $0.00 $476.77 $0.00 $1,925.00 $0.005 252 $0.00 $1,616.25 $0.00 $1,925.00 $0.006 92 $0.00 $0.00 $0.00 $1,925.00 $0.007 115 $0.00 $0.00 $980.09 $1,925.00 $0.00

1024

FY 2018 Proposed Assessments


ASSESSMENT SUMMARYFISCAL YEAR 2018

FY 2017 Assessments

5/8/2017

Dear Cory Lake Isle CDD,

We thank you for allowing us the opportunity to submit our proposal for the building of Cory Lake’s

Gym/ MultiPurpose room. Please find in our submittal the following 3 options for construction:

Option 1: Building Area (Heated)= 4,200 square feet @ 14' ceiling height.

Porch Area: 225 square feet @ 14' ceiling height.

Total square feet under roof 4,450. Total cost = $667,742.36. Option 2: Building Area (Heated)= 4,806 square feet @ 14' ceiling height.

Basketball Area (Heated) = 6,166 square feet @ 22' ceiling height.

Porch Area: 245 square feet.

Total square feet under roof 11,217. Total cost = $1,196,649.64. Option 3: Building Area Heated: 4,547 square feet @ 14' ceiling height.

Porch Area: 225 square feet @ 14' ceiling height.

Total square feet under roof 4,772. Total cost = $683,757.78.

Upon choosing an option to proceed we would need to get started with drafting the civil,

mechanical and electrical engineers design. We have included this cost for each option respectively.

To get started with plans and permitting we would need a $15,000 deposit. Plans generally take 4-6

weeks to draft and engineer. Permitting takes an additional 4-6 weeks. Project build time should take

approximately 7-9 months from the date of permitting issuance by the City of Tampa. We generally

sign a 12 month contract due to unforeseen conditions. Project time generally is less than projected.

Should you have any questions or concerns regarding our proposal package please feel free to call

the general contractor, Khamir Patel at (813)421-5678 ext 700 or you can reach me, Soney Goel at

ext 703.

Sincerely,

________________________

Soney Goel

Projects Manager

KHP Developers, Inc.

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CANNON COCHRAN MANAGEMENT SERVICES INC • P.O. Box 27920 • Scottsdale, AZ 85255

PHONE: (480) 384-5850 • FAX: (480) 384-5858

June 6, 2017

Straley Robin Vericker

Attn.: Vivek Babbar

1510 W Cleveland St

Tampa FL 33606

Sent via USPS & emailed to: [email protected]

RE: Our Client: Republic Services, Inc./BFI Waste Services LLC

Our Claim Number: G992066

Date of Loss: 1/11/17

Your Client: Cory Lakes Community

CCMSI is the third party carrier to address claims made against Republic Services. Please address all future

correspondence to me at this address.

Please allow this letter to acknowledge your letter of 5/15/17, and follow up with my voice mail of today.

Pavers in this community were never sealed. When I spoke with Mr. Hall, the property manager for Corey

Lakes, in January of this year, he indicated the board inquired if Republic would pay for sealing the roads, to

prevent further damage. Suddenly we are being requested to replace the roads. I’m sure you can see that’s a

far jump for roads that are open for general usage. None the less, in a good faith effort to resolve the claim,

I’m willing to resolve this matter for $30,000.00. Please present to your client and get back with me. Thank you.

Sincerely,

Cally Walker

CCMSI

480 384 5861

Fax:217 477 7251

[email protected]

FLORIDA LAW REQUIRES US TO NOTIFY YOU OF THE FOLLOWING: Any person who knowingly and

with intent to injure, defraud, or deceive any insurance company files a statement of claim containing any false,

incomplete, or misleading information is guilty of a felony of the third degree.

1

SUMMARY OF MOTIONS MINUTES OF MEETING 1

CORY LAKES 2

COMMUNITY DEVELOPMENT DISTRICT 3

4

A Regular Meeting of the Cory Lakes Community Development District’s Board of 5

Supervisors was held on Thursday, May 18, 2017 at 6:00 p.m., at the Cory Lake Beach Club, 6

10441 Cory Lake Drive, Tampa, Florida 33647. 7

8

Present at the meeting were: 9

10 Jorge Castillo Chair 11

Sudhir (Sid) Shah Vice Chair 12

Bob Woodards Assistant Secretary 13

Sheila Haque Assistant Secretary 14

David Burman (via telephone) Assistant Secretary 15

16

Also present were: 17 18

Chuck Adams District Manager 19

John Hall Facilities Manager 20

Wendy Darby Office Administrator 21

Tony Grau (via telephone) Grau & Associates 22

Rich Carpenter Resident, LAF Committee Member 23

A.J. Forbes Resident, Security Committee Member 24

A. Cyril Spiro Resident, Finance Committee Member 25

Steven Hancz Resident 26

Dr. Amrit Patel Resident 27

Sheryl Springer Resident 28

Khamir Patel Resident 29

Maria Thornhill Resident 30

Prashant Bodhe Resident 31

Harry _______ Resident 32

Gloria _______ Resident 33

34

35

On MOTION by Mr. Castillo and seconded by Mr. Woodards, 36

with all in favor, Resolution 2017-8, Accepting the Audited 37

Financial Report for the Fiscal Year Ended September 30, 38

2016, was adopted. 39

40

41

42

43

44

45

CORY LAKES CDD May 18, 2017

2

On MOTION by Mr. Shah and seconded by Ms. Haque, with 46

all in favor, the April 18, 2017 LAF Committee Meeting, the 47

April 20, 2017 Summary of Motions and Board of Supervisors 48

Staff Directives, as presented, the April 20, 2017 Regular 49

Meeting Minutes, as amended, the May 2, 2017 LAF 50

Committee Meeting, the May 11, 2017 Finance Committee and 51

the May 2, 2017 – May 16, 2017 Sunshine Board Meeting 52

Minutes, as presented, were approved. 53

54 55

On MOTION by Mr. Shah and seconded by Mr. Woodards, 56

with all in favor, authorization for Staff to enforce speeding 57

violations by completing Phase I, District Counsel sending a 58

letter to speeders, and Phase II, arranging for TPD to visit 59

speeders, was approved. 60

61

62


with all in favor, authorization to distribute a Welcome Packet 64

and plant to new owners and tenants, in a not-to-exceed 65

amount of $10 per home, or $700, annually, effective June 1, 66

2017, was approved. 67

68

69

On MOTION by Mr. Woodards and seconded by Mr. Shah, 70

with all in favor, the Tennis Court Usage/Rules 71

Recommendations, as amended, were approved. 72

73

74


with all in favor, authorizing Staff to draft new PROtential 76

Sports Agreement, to include children from outside of the 77

CDD, for the Board’s review, and for Staff to finalize and the 78

Chair to execute, pending review, were approved. 79

80

81


all in favor, the Pool Reservation Agreement to commence 83

charging $50 for pool use, plus $100 deposit, refundable only if 84

the pool area is cleaned, to be grandfathered as of June 1, 2017, 85

and other noted revisions, were approved. 86

87

88

89


3


with all in favor, Resolution 2017-9, Approving the District’s 91

Proposed Budgets for Fiscal Year 2017/2018 and Setting a 92

Public Hearing Thereon Pursuant to Florida Law for 93

September 14, 2017 at 6:00 p.m., at this location, and 94

Providing an Effective Date, was adopted. 95

96

97

On MOTION by Mr. Castillo and seconded by Mr. Shah, with 98

all in favor, the Sunshine Board System Licensing Agreement, 99

at a cost of $250 per month for software utilization at Cory 100

Lakes, effective June 1, 2017, was approved. 101

102

103


with all in favor, the Cornerstone Construction Services 105

Proposal for Monument Relocation, including easement and 106

recording of easement, at an estimated cost of $13,000, was 107

approved. 108

109

110


with all in favor, authorizing Staff to replace guardhouse air 112

conditioning unit, in a not-to-exceed amount of $3,500, was 113

approved. 114

115

116


with all in favor, authorizing Staff to install a tag camera at 118

Morris Bridge Exit, for $3,342.50, with a recurring monthly fee 119

of $42, was approved. 120

121

122


with all in favor, authorizing Staff to enter into a contract with 124

Spearam Enterprises to repair Soil Weirs & Banks, in a not-to-125

exceed amount of $23,000, was approved. 126

CORY LAKES CDD

May 18, 2017

Board of Supervisors Staff Directives

Facilities Manager

Replace piping and tank at the Morris Bridge Well.

Treat gutters.

Invite Mr. Jerry Berrios from the security company to the next meeting.

Office Manager

Research Facebook and Nextdoor.com for news on what’s going on in the community.

Change the dollar amount of the BNI contract and make it for a specific day and add clause that states the

CDD has a right to terminate with cause and 60 days without cause.

To send e-blast alerting residents that speed limits would be strictly enforced; Phase I and Phase II actions.

To send e-blast alerting residents of new tennis rule policies, display signage near tennis courts and post

changes on CDD website.

To send e-blast notifying residents that a survey would be circulated regarding the new gym.

To post proposed gym design options and preliminary cost analysis on the CDD website.

To send an email notifying residents that the tennis courts would shut down on two separate occasions.

Post flyers reminding residents of the shut-down dates on the tennis courts.

District Engineer

Cease securing proposals for the Speed Tables.

District Attorney

Draft a template letter to speeders caught on tag camera.

District Manager

Formulate guidelines for posting items on the CDD website.

Supply rough estimates on financing and levy assessments for the new gym.

Request a survey draft for the new gym from Cyril.

Transmit the Fiscal Year 2017/2018 budget to local municipalities and to post the draft budget on the CDD

website.

Track a claim that was previously filed with the insurance company.

Draft new Vendor Agreement for PROtential Sports Program.

1

MINUTES OF MEETING 1

CORY LAKES 2

COMMUNITY DEVELOPMENT DISTRICT 3

4

A Regular Meeting of the Cory Lakes Community Development District’s Board of 5

Supervisors was held on Thursday, May 18, 2017 at 6:00 p.m., at the Cory Lake Beach Club, 6

10441 Cory Lake Drive, Tampa, Florida 33647. 7

8

Present at the meeting were: 9

10 Jorge Castillo Chair 11

Sudhir (Sid) Shah Vice Chair 12

Bob Woodards Assistant Secretary 13

Sheila Haque Assistant Secretary 14

David Burman (via telephone) Assistant Secretary 15

16

Also present were: 17 18

Chuck Adams District Manager 19

John Hall Facilities Manager 20

Wendy Darby Office Administrator 21

Tony Grau (via telephone) Grau & Associates 22

Khamir Patel KHP Developers 23

Rich Carpenter Resident, LAF Committee Member 24

A.J. Forbes Resident, Security Committee Member 25

A. Cyril Spiro Resident, Finance Committee Member 26

Steven Hancz Resident 27

Sheryl Springer Resident 28

Dr. Amrit Patel Resident 29

Prashant Bodhe Resident 30

Maria Hyphen Resident 31

Harry Ramphal Resident 32

Roria Manfred Resident 33

34

35

FIRST ORDER OF BUSINESS Call to Order/Roll Call 36

37

Mr. Adams called the meeting to order at 6:02 p.m., and noted, for the record, that 38

Supervisors Castillo, Shah, Woodards and Haque were present, in person. Supervisor Burman 39

was attending via telephone. 40

41

SECOND ORDER OF BUSINESS Chairman’s Opening Comments 42


2

There being no opening comments, the next item followed. 43

44

THIRD ORDER OF BUSINESS Public Comments (agenda items) [3 45

minutes per speaker] 46

47

Ms. Sheryl Springer, a resident, presented a few forthcoming events. The next Tampa 48

Police Department (TPD) roll call was scheduled for May 23, 2017 at 7:00 p.m., at this location. 49

The second drop-off/collection event will be on June 24, 2017. Anyone interested in assisting 50

and/or participating should contact Mr. A.J. Forbes. Volunteers with trucks were especially in 51

demand. In response to a question, Ms. Springer stated that the TPD roll call was a meeting 52

where TPD Members met with local residents, in a public setting, like Wal-Mart or a 53

Community Center, to discuss community safety, the new Tampa, etc. Residents found these 54

meetings informative and worthwhile. 55

Mr. Steve Hancz, a resident, stated that the monument, in the shopping area, was poorly-56

lit and hazardous. Installing a solar, battery-powered apparatus would be better than nothing. 57

Mr. Hancz was excited about upcoming CDD projects such as the new gym, and looked forward 58

to that discussion. Mr. Shah commended Mr. Hancz and a few other homeowners on their 59

involvement and interest in the community. 60

Mr. Rich Carpenter, a resident, requested that the wording on the monument be changed 61

from “Cory Lakes Isles” to “Cory Lakes Drive”. This would be discussed during the Sixteenth 62

Order of Business. The language of the old and new tennis court rules and policies should be 63

compared, prior to approval. He supported limiting playing time to one hour during high traffic 64

periods and granting the Facilities Manager authority to oversee all programs. He was also 65

concerned about maintenance. Mr. Castillo stated that those issues would be addressed. 66

Dr. Amrit Patel, a resident, was also interested in the tennis court policies. Mr. Castillo 67

stated that it would be discussed under Item 7D, “Ad-hoc Tennis Committee: Usage/Rules 68

Recommendations”. 69

70

FOURTH ORDER OF BUSINESS Presentation of Audited Financial Report 71

for Fiscal Year Ended September 30, 72

2016, Prepared by Grau & Associates 73

74


3

Mr. Grau presented a summary of the Audited Financial Report for Fiscal Year Ended 75

September 30, 2016. The “Independent Auditor’s Report”, on Pages 1 and 2 reflected a clean 76

opinion . The “Change in net position” on Page 5, reflected a loss of $114,506, for Fiscal Year 77

2016. On Page 10, the “Balance Sheet” for “Governmental Funds” reflected a “Fund balance” of 78

$2,145,000. Page 11 reflected a “Total Governmental Funds” of $21,204. “Note 6- Capital 79

Assets”, on Page 19 reflected “Total accumulated depreciation” of $876,711. Mr. Grau 80

concluded that the District was in compliance and there were no findings. 81

In response to Mr. Shah’s question regarding the Reserve fund, Mr. Grau stated that 82

appropriations were greater than the budgeted revenue and the overage was paid from Reserves. 83

Working capital and unassigned funds were available for use for any purpose. Mr. Adams 84

recalled that, upon finalizing the budget Fiscal Year 2016 budget, $108,019 was utilized from 85

Fund Balance for capital projects, which kept assessments at $1,925. The “Working capital” for 86

the first three months of Fiscal Year 2016, as reflected on Page 9, was $540,419, which was 87

largely untouched, unlike the “Unassigned” amount of $750,419, immediately below that, which 88

was used to fund projects such as the drainage control structure. Mr. Shah asked if the District 89

had a balanced budget in Fiscal Year 2016. Mr. Adams replied affirmatively. The District’s 90

expenses did not exceed revenues but, if they did, a budget amendment would have been 91

necessary. The District received a clean or “unmodified” audit opinion and was in a very strong 92

financial position. 93

94

FIFTH ORDER OF BUSINESS Consideration of Resolution 2017-8, 95

Accepting the Audited Financial Report 96

for the Fiscal Year Ended September 30, 97

2016 98 99

Mr. Adams presented Resolution 2017-8 for the Board’s Consideration. 100

101


with all in favor, Resolution 2017-8, Accepting the Audited 103

Financial Report for the Fiscal Year Ended September 30, 104

2016, was adopted. 105

106

107

SIXTH ORDER OF BUSINESS Approval of Minutes 108

109


4

Mr. Adams presented the April 18, 2017 LAF Committee Meeting Minutes and asked for 110

and additions, deletions or corrections. 111

A. April 18, 2017 LAF Committee Meeting 112

B. April 20, 2017 113

i. Summary of Motions 114

Mr. Adams presented the April 20, 2017 Summary of Motions and asked for any 115

additions, deletions or corrections. 116

ii. Board of Supervisors Staff Directives 117

Mr. Adams presented the April 20, 2017 Board of Supervisors Staff Directives and asked 118

for any additions, deletions or corrections. 119

iii. Board of Supervisors Meeting 120

Mr. Adams presented the April 20, 2017 Board of Supervisors Regular Meeting Minutes 121

and asked for any additions, deletions or corrections. The following change was made: 122

Line 251: Change “gutters” to “streets” 123

C. May 2, 2017 LAF Committee Meeting 124

Mr. Adams presented the May 2, 2017 LAF Committee Meeting Minutes and asked for 125

and additions, deletions or corrections. 126

D. May 11, 2017 Finance Committee Meeting 127

Mr. Adams presented the May 11, 2017 Finance Committee Meeting Minutes and asked 128

for and additions, deletions or corrections. 129

E. May 2, 2017 – May 16, 2017 Sunshine Board (to be provided under separate cover) 130

Mr. Adams provided and presented the May 2, 2017 – May 16, 2017 Sunshine Board 131

Minutes and asked for any additions, deletions or corrections. 132

133


all in favor, the April 18, 2017 LAF Committee Meeting, the 135

April 20, 2017 Summary of Motions and Board of Supervisors 136

Staff Directives, as presented, the April 20, 2017 Regular 137

Meeting Minutes, as amended, the May 2, 2017 LAF 138

Committee Meeting, the May 11, 2017 Finance Committee and 139

the May 2, 2017 – May 16, 2017 Sunshine Board Meeting 140

Minutes, as presented, were approved. 141

142


5

SEVENTH ORDER OF BUSINESS Committee Reports 143 144

A. Security 145

Mr. Forbes requested two additional security cameras. He would continue to study the 146

speed tables and radar to expose residents who speed. Although the CDD was limited, in terms 147

of reprimanding speeders, the POA could enforce speeding measures, per Florida Statutes. 148

District Counsel should examine the wording in the Statutes. Mr. Adams stated that it was more 149

appropriate for the POA attorney to do so, since he would be an expert on POA law. The 150

District must rely on the TPD for enforcement power and could provide collected data and 151

evidence to the TPD, as public records. Mr. Castillo stated that, based on the Statutes, the CDD 152

could send letters to speeders and report them to the TPD. Mr. Adams stated that the District 153

could send notifications and speed reports; however, it could not restrict bar codes or access to 154

amenities. Discussion ensued regarding the CDD and POA Covenants, speed tables, cameras, 155

speed humps and the TPD. Mr. Shah suggested exposing speeders on a bulletin board. Mr. 156

Woodards would support Mr. Shah’s idea, if it was legal. Mr. Forbes asked for the Board’s 157

approval to post CDD Rules and Regulations on the CDD website and on social media to alert 158

residents that speeders would be exposed on a “Wall of Shame”. 159

Ms. Maria Hyphen, a resident, asked if she could post speeders’ photos and license tags 160

on a community Facebook page. Mr. Castillo did not recommend posting resident information 161

on social media. Such actions may lead to lawsuits and retaliation. Mr. Shah recommended 162

sending an annual letter to residents containing the CDD Rules and Regulations and uploading it 163

to the CDD website. Mr. Adams stated that the official CDD website was corylakescdd.net. In 164

response to Mr. Shah’s question, Mr. Adams stated that the POA bylaws were not posted on the 165

CDD website; however, there were links connecting the two websites. 166

167


with all in favor, authorization for Staff to enforce speeding 169

violations by completing Phase I, District Counsel sending a 170

letter to speeders, and Phase II, arranging for TPD to visit 171

speeders, was approved. 172

173

174

Mr. Woodards suggested an e-blast alerting residents that speed limits would be strictly 175

enforced. Ms. Darby would draft and forward the e-blast. 176


6

B. Finance 177

This item was presented following the Fifteenth Order of Business. 178

Ms. Springer asked if the District could set aside funds to facilitate “Welcome Wagon” 179

gestures for new residents and tenants. She asked for $5 to $10 per welcome packets and plant. 180

Ms. Springer stated that the POA President confirmed that the POA could not contribute, due to 181

a lack of funds. 182

183


with all in favor, authorization to distribute a Welcome Packet 185

and plant to new owners and tenants, in a not-to-exceed 186

amount of $10 per home, or $700, annually, effective June 1, 187

2017, was approved. 188

189

190

C. Landscape Aquascape Facilities 191

Ms. Darby noted sidewalk damage near a new home construction site. Mr. Shah stated 192

that the builder was responsible for the damage and would eventually make the repairs. Mr. Hall 193

stated that the City would make the repairs. Ms. Darby stated that liability issues could arise if 194

someone tripped and fell. Mr. Shah asked if the District could ask the builder to repair the 195

sidewalk immediately. Mr. Hall stated that the City would repair the sidewalk but was waiting 196

until construction was complete. 197

Fiscal Year 2018 Budget Recommendations 198

Regarding the budget, Ms. Darby stated that Mr. Carpenter felt that the Facilities 199

Manager needed part-time help to complete the necessary repairs in the community. Mr. Castillo 200

stated that the Board previously approved funds to hire a part-time facilities worker; however 201

Mr. Hall was having trouble hiring an assistant. Mr. Woodards stated that this issue arose 202

several years ago and the Facilities Manager’s salary was reduced, from $75,000 to $50,000, to 203

facilitate hiring an assistant, after the previous Facilities Manager left. he District should hire an 204

assistant for Mr. Hall. In response to Ms. Darby’s question, Mr. Hall stated that Ms. Darby 205

should seek a candidate who was willing to work part-time and met the job qualifications. Most 206

applicants lived 50 miles away and were not willing to drive to Cory Lakes for $12 per hour. 207

Discussion ensued regarding the assistant position and Mr. Hall’s work schedule. Mr. Woodards 208

stated that, to maintain the community, Mr. Hall needed a full-time assistant, at $35,000 per year. 209


7

Mr. Shah stated that Mr. Hall’s talents should be appropriately utilized and duties such as trash 210

removal and changing sprinkler heads should be delegated to an assistant. Mr. Adams 211

recommended tabling the Assistant Facilities Manager position discussion to the next meeting, to 212

give Staff an opportunity to determine its merits and Management a chance to include it in the 213

Fiscal Year 2018 budget. 214

D. Ad-hoc Tennis Committee: Usage/Rules Recommendations 215

Dr. Amrit Patel, a resident and Tennis Committee Member, conferred with Mr. 216

Carpenter, revised the Tennis Court Rules and presented the revised Usage/Rules 217

Recommendations. Dr. Patel would forward and distribute the finalized version. In response to 218

a question, the new Tennis Court Usage/Rules Recommendations would negate the previous 219

policies. District Staff would send an e-blast notification to residents, post signage near the 220

tennis courts and upload the revised document to the CDD website. 221

222


with all in favor, the Tennis Court Usage/Rules 224

Recommendations, as amended, were approved. 225

226

227

In response to Mr. Woodards’ question regarding tennis instructor requirements, Mr. 228

Adams stated that instructors must enter into a Vendor Agreement and provide a Certificate of 229

Insurance (COI) to train at the Cory Lakes facilities. Mr. Castillo stated that the language on 230

Number 19 should be amended to read “Only CDD-approved instructors are allowed to train our 231

children and members,” instead of “Only Association-approved instructors…”. Discussion 232

ensued regarding the instructor registration process and trainer vendor agreements. Mr. Adams 233

stated all instructors or trainers must identify themselves as Tennis Pro Certified or Tennis 234

Trainer Certified. The CDD would issue badges so that instructors were easily identifiable as 235

pre-registered instructors. Further discussion ensued. 236

E. Other 237

There being nothing to discuss, the next item followed. 238

239

EIGHTH ORDER OF BUSINESS Acceptance of Unaudited Financial 240

Statements as of March 31, 2017 241

242


8

Mr. Adams presented the Unaudited Financial Statements as of March 31, 2017. On-roll 243

assessment revenue collections were at 95% and expenditures were at 58%. 244

245

NINTH ORDER OF BUSINESS Continued Discussion/Update: Speed 246

Table Proposals 247 248

Mr. Shah suggested tabling the Speed Table Proposals for the time being. Mr. Adams 249

would inform the District Engineer to cease any further activities related to speed tables. 250

251

TENTH ORDER OF BUSINESS Continued Discussion: Boat Dock ADA 252

Deficiency 253

254

Mr. Castillo stated that the Board would appreciate a resolution prior to the next Sunshine 255

Board Meeting because the District was approaching budget season. In response to Mr. 256

Castillo’s question, Mr. Adams confirmed that “Unassigned” funds would be used to fund this 257

project. Upon review of the Agreement, there were no “outs” in terms of the Pre-Isle 258

Community being built out; the 1,925 cap would remain through Fiscal Year 2020. 259

Mr. Hall observed contractors going over measurements but was unsure whether a final 260

proposal was submitted. 261

262

ELEVENTH ORDER OF BUSINESS Presentation/Discussion: New Gym 263

Design 264

265

Mr. Khamir Patel, of KHP Developers (KHP), presented three gym design options. 266

Option 1would be 4,200 square feet (sq. ft.), with vaulted ceilings, for $667,742.36. Option 2 267

would be 4,806 sq. ft., with a 14’ ceiling height and a basketball area, for $1,196,649.64. Option 268

3 would be 4,457 sq. ft., with a 14’ ceiling height, for $683,757.78. The structure could be 269

constructed very quickly, would be energy-efficient and, if possible, the exterior would be 270

uniform with the Clubhouse and Pool house. 271

Mr. Shah asked if the new gym would have a combination of electricity and solar power. 272

Mr. Patel replied affirmatively. Mr. Shah pointed out that Option 1 costs $107 per sq. ft., while 273

options 2 and 3 cost approximately $150 per sq. ft., and asked for an explanation. Mr. Patel 274

stated that the cost was not based on square footage, it was based on the actual costs. 275


9

Mr. Shah stated that the Board must determine if there was a consensus to build a gym 276

and how to fund it. Discussion ensued regarding the advantages and disadvantages of 277

constructing the gym, circulating surveys regarding the gym and funding options. The Board 278

agreed that a new gym would strengthen the community and significantly increase property 279

values. 280

Mr. Harry Ramphal, a resident, asked if a special assessment would be imposed. Mr. 281

Castillo stated that a few options were being considered. One funding option was a special 282

assessment and the other was to sell a property across Pre-Isle. Mr. Adams stated that the 283

District did not have sufficient funds to build a gym and it would be better to liquidate the 284

property and utilize those funds. Mr. Castillo asked if the Pre-Isle property must be appraised. 285

Mr. Adams stated that it would be best to wait for the survey feedback then work with Dr. Spiro 286

on the survey questions. Because of the time lapse, since the last appraisal, the Pre-Isle property 287

must be appraised, as the market had definitely improved. Mr. Castillo stated that a special, one-288

time assessment would cost $700 to $1,200. Mr. Adams recommended financing the project, 289

over a five-year period, instead of imposing the one-time assessment. The District could obtain a 290

4% tax exempt interest rate. Mr. Castillo stated that no action was required, at the present time, 291

aside from Dr. Spiro’s help with the surveys. An e-blast to notify the community of the Board’s 292

intentions, regarding the gym, could be sent. Mr. Adams stated that Management would post the 293

proposed gym design options and preliminary cost analysis on the CDD website. In response to 294

Mr. Castillo’s question regarding a Request for Proposals (RFP), Mr. Adams stated that the 295

District could engage the civil engineer and designer, as a sub-consultant to the Developer’s 296

engineer, to prepare design drawings and secure bids. Mr. Patel was encouraged to bid on the 297

project. It would be a sealed bid process. 298

Ms. Roria Manfred, a resident, stated that the community did not have a ballroom to rent 299

out for events. Mr. Castillo stated that the suggestion for a ballroom would be taken under 300

advisement. 301

302

TWELFTH ORDER OF BUSINESS Update: Reimbursement from 303

County/Republic Waste for Hydraulic Oil 304

Spills 305

306


10

Mr. Adams stated that a demand letter was sent on Monday, signed by both he and Mr. 307

Hall. An update would be provided at the next meeting. 308

309

THIRTEENTH ORDER OF BUSINESS Discussion of Current 310

Contracts/Agreements 311

312

A. PROtential Sports 313

Mr. Castillo reviewed the contract and stated that the District was only making $200 to 314

$300, per month, on the PROtential Agreement. Ms. Haque stated that the District made 5% of 315

the participation amount, based on how many students participated. Mr. Castillo stated that the 316

Sunshine Board Members and others suggested opening the program up to children from other 317

communities. Mr. Adams stated that allowing children from outside of Cory lakes to join the 318

PROtential program was a good idea, as it would spur interest in the community and increase 319

revenue. Mr. Adams and would coordinate with District Counsel to amend the Vendor 320

Agreement. 321

322


with all in favor, authorizing Staff to draft an Amended 324

PROtential Sports Agreement, to open the program to children 325

from outside of the CDD, and for Staff to finalize and the 326

Chair to execute, pending review, were approved. 327

328

329

B. BNI 330

Discussion ensued regarding whether to continue hosting the BNI weekly event. Mr. 331

Adams stated that the events were more of a networking opportunity than a revenue generator. 332

They were creating a lot of impact on the facilities, for the $100, per week rental fee. Mr. 333

Castillo asked Ms. Darby and Mr. Hall for their feedback. Mr. Hall stated it was an 334

inconvenience and not worth the trouble. Mr. Shah mentioned that Staff routinely emptied trash 335

after meetings. Mr. Woodards thought it should be discontinued. Mr. Shah recommended 336

increasing the rental fee from $100 to $250, per session, including storage. Discussion ensued 337

regarding raising the fee, discontinuing the event and parking issues. Mr. Adams recommended 338

increasing the rental amount from $100 to $250, per occurrence, for a term, instead of a specific 339


11

day, with hours identified, and affirm that the District had the right to terminate at any time, with 340

cause, and 30 days without cause. 341

C. Reservation Agreement Revisions 342

Ms. Haque stated that, currently, a $100 fully refundable deposit is collected, if the pool 343

area was tidied. The issue was that the pool was routinely booked with back-to-back events with 344

little time, in between, to clean up. Other communities limited pool use to half of what the CDD 345

allowed and charged an additional fee. Mr. Shah suggested charging a $100 deposit, plus $50 346

for pool use. Ms. Haque stated that the Agreement allowed for up to 40 guests. Discussion 347

ensued regarding the number of events per day, pool fees and liability. Ms. Haque asked if the 348

renter would be issued a refund, if there was bad weather. Mr. Adams stated that clauses 349

outlining refunds and insurance liability would be added to the Agreement. Ms. Darby stated 350

that the Revised Pool Reservation Agreement would not apply to previously booked pool 351

reservations but new reservations would get grandfathered in under the current Agreement and 352

would be executed as of June 1. 353

354


all in favor, the Revised Pool Reservation Agreement, to 356

commence charging $50 for pool use, plus a $100 deposit, 357

refundable only if the pool area is cleaned, to be grandfathered 358

as of June 1, 2017, and other noted revisions, were approved. 359

360

361

***The meeting recessed at 8:54 p.m.*** 362

***The meeting reconvened at 9:03 p.m.*** 363

364

FOURTEENTH ORDER OF BUSINESS Consideration of Resolution 2017-9, 365

Approving the District’s Proposed 366

Budgets for Fiscal Year 2017/2018 and 367

Setting a Public Hearing Thereon 368

Pursuant to Florida Law and Providing 369

An Effective Date 370 371

Mr. Adams presented Resolution 2017-9 for the Board’s consideration. The Public 372

Hearing was proposed for September 14, 2017 at 6:00 p.m., at this location. The District 373


12

Manager would transmit the proposed budget to local municipalities and post the draft budget on 374

the CDD’s website. 375

376


with all in favor, Resolution 2017-9, Approving the District’s 378

Proposed Budgets for Fiscal Year 2017/2018 and Setting a 379

Public Hearing Thereon Pursuant to Florida Law for 380

September 14, 2017 at 6:00 p.m., at this location, and 381

Providing an Effective Date, was adopted. 382

383

384

FIFTEENTH ORDER OF BUSINESS Consideration of Sunshine Board System 385

Licensing Agreement 386 387

Mr. Castillo stated that the District utilized the Sunshine Board System for the past three 388

years, at no charge, and was presented with an Agreement to commence paying $250, per month, 389

to the software’s owner, Dr. Spiro. In response to Mr. Shah’s question, Dr. Spiro stated that the 390

site was managed by his partner, who was in charge of Information Technology (IT) and 391

software development, while he served as marketer and troubleshooter. Mr. Shah wanted to 392

know how often the site was accessed. Dr. Spiro stated that the average was 250 hits per month. 393

Mr. Woodard was under the impression that the District would never be charged for the service. 394

Dr. Spiro stated that the reason the District was not charged was because he was previously on 395

the Board and did not want a conflict of interest and, if he served on the Board again, the District 396

would not be charged the monthly fee. Mr. Castillo wanted to know when billing would 397

commence. Dr. Spiro stated, as soon as possible. Discussion ensued regarding the terms of the 398

Contract and funding. Mr. Adams stated that funding would be under “Communications”. In 399

response to a question regarding an App, Dr. Spiro stated that it would be easier to develop an 400

App now that the Licensing Agreement was approved. 401

402

On MOTION by Mr. Castillo and seconded by Mr. Shah, with 403

all in favor, the Sunshine Board System Licensing Agreement, 404

at a cost of $250 per month for software utilization at Cory 405

Lakes, effective June 1, 2017, was approved. 406

407

408


13

Discussion ensued regarding computer accessibility, public viewing, the spell-check 409

feature and offline access. Mr. Castillo asked about acquiring a laptop for the guardhouse. Mr. 410

Hall stated that a laptop would be donated. 411

A resident asked if it was possible to keep the volleyball courts lit after 8:00 p.m., on 412

Mondays, to accommodate him and his friends. Ms. Haque replied affirmatively. Mr. Castillo 413

asked about the number of proposals received for lighting for the volleyball courts. Mr. Hall was 414

expecting a final price from a company that provided light poles. In response to Mr. Shah’s 415

question regarding the source of funding, Mr. Adams stated funding would come from 416

“Unassigned” fund balance and proposals would be presented at the next meeting. 417

Committee Reports - Finance 418

***This item, previously Item 7B, was presented out of order.*** 419

Dr. Spiro stated that he was the Liaison for the Finance Committee and currently served 420

as its Chairman. At a previous meeting, the Committee discussed the Fiscal Year 2018 Capital 421

budget and utilizing reserve funds. The newest member of the Committee, Mr. Ramphal was 422

very impressed by the District’s finance reports. The Committee was fiscally conservative and 423

favored imposing special assessments for capital projects, over utilizing reserve funds. The 424

Landscape Aquascape Facilities (LAF) Committee paid for most of the CDD’s capital requests 425

and its members were recently invited to a Finance Committee meeting to discuss existing 426

infrastructure capital needs, which were large. There was a conservative estimate of $100,000 427

for Fiscal Year 2018, with the combination of the Clubhouse, street pavers and waterways. Most 428

residents were unaware of these projects, which were vital to the Community’s infrastructure and 429

could be funded through a one-time special assessment. Dr. Spiro discussed the Fiscal Year 430

2018 Operational budget, past capital projects and community surveys. 431

Mr. Shah wanted to know if there was a line item for drainage blocking. Mr. Adams 432

stated that $10,000 was budgeted and the amount would increase for Fiscal Year 2018. There 433

would be an initial review and cleaning out potential blockages, followed by periodic 434

maintenance. 435

Dr. Spiro stated that the Finance Committee meeting times were changed to the second 436

Wednesday of the month, at 8:30 p.m., to make it easier for residents to attend. Dr. Spiro would 437

provide a draft of the first phase of an Assessment Survey, by the next meeting, for review and 438

consideration. 439


14

SIXTEENTH ORDER OF BUSINESS Consideration of Cornerstone 440

Construction Services Proposal for 441

Monument Relocation 442

443

Mr. Adams stated that the cost of relocating and reconstructing the monument sign from 444

the driveway to the corner of the lot was $9,800, including $3,200 for the structural design, 445

sealed drawings and permit fees. Post construction, a surveyor would be hired to perform a 446

survey plot and sketch a legal description, which would be part of an easement grant document 447

from MI HOMES, to the District, to be recorded in the County record, at an additional cost of 448

$2,025. The project was estimated to cost $12,000 to $13,000. In response to a question, Mr. 449

Adams stated that the monument would be new. The project required the contractor to relocate 450

the monument sign, demolish the existing sign, pour a new concrete pad and anchor the sign. 451

Discussion ensued regarding the cost of the project. In response to a question, Mr. Adams stated 452

that the project included landscaping, modifying irrigation and relocating the 60-amp electrical 453

service and low voltage lighting to a new location. Discussion ensued regarding the details of 454

the monument project. 455

456


with all in favor, the Cornerstone Construction Services 458

Proposal for Monument Relocation, including easement and 459

recording of easement, at an estimated cost of $13,000, was 460

approved. 461

462

463

Mr. Adams asked if the Board wanted the monument to reference the road or the 464

community. The consensus was to add the word “Drive” to the sign. Mr. Castillo wanted to 465

know how the monument would be funded. Mr. Adams stated that the funding would either 466

come from unspent budget funds or the “Unassigned” fund balance. The project would 467

commence as soon as possible. 468

469

SEVENTEENTH ORDER OF BUSINESS Staff Reports 470 471

A. District Engineer 472

There being no report, the next item followed. 473

B. Office Administrator 474


15

Ms. Darby stated that a few items were already discussed. Additional changes were 475

made to the newsletter, more contacts were added, which were ready for final review and 476

approval before being sent to the printer. An Office Procedures Manual for office staff, outlining 477

the District’s processes and including camera monitoring, was being created; this was an ongoing 478

project. In response to a directive to survey residents who attended the Eggstravaganza event, all 479

of those surveyed gave good reviews; there were no complaints. The only issue involved 480

residents who were angry that they could not play tennis and someone unplugged the DJ’s 481

equipment; however, there was no damage. Next year, it would help to post a sign stating the 482

tennis courts would be closed during the event. Food trucks were scheduled and the Sunshine 483

Board was notified. Board approval to hire two food trucks and to close the tennis courts to use 484

the power source, for the Dinner and a Movie events, in June and July, was needed. Mr. Shah 485

suggested alerting the tennis players in advance. Ms. Darby would send an e-blast and post 486

flyers, one week in advance of the event. Mr. Woodards complained about noise from attendees 487

of other meetings while the CDD Board Meetings were in progress. Mr. Adams stated that a 488

sign was posted for tonight’s meeting indicating that a CDD Board Meeting was in progress and 489

it was for CCD attendees, only. Ms. Darby stated that the young people noticed the sign and 490

dispersed. 491

Ms. Darby stated that the POA sends approval for renters but the CDD did not have a 492

similar system, in place. Currently, the District considered new household members as “patrons” 493

which gave them amenity access. Mr. Burman stated that there should be a rule that the 494

Administrator required POA approval for every patron, in order to facilitate a background check. 495

Mr. Castillo stated that tenants, 18 and over, were required to undergo a background check, 496

through the POA. 497

C. Facilities Manager 498

Mr. Hall presented the Facilities Manager Report. The following items were discussed: 499

The meeting room was brighter, more energy efficient and less of a fire hazard, as a result 500

of converting to LED light bulbs. 501

Basic repairs, around the community, were completed. 502

The well, beside the Clubhouse, was replaced, for $3,500. The bladder on the tank 503

malfunctioned. 504

The piping and the tank on the Morris Bridge well were replaced, for $3,000. 505


16

Mr. Woodards asked for an update on the chemical used to treat the well water. Mr. Hall 506

stated that the chemical was ineffective because the water was so hard, and a stronger solution 507

would be harmful to the grass and plants, so the problem was ongoing. 508

The pump on the tank of the gator was repaired and the gutters were being treated, which 509

would be necessary, every three months. The treatment system was not working. 510

The pool was sealed and looked a lot better. 511

The pavers were pressure-cleaned. 512

Mr. Shah complained that only one coat of seal was applied, on the steps of his residence, 513

and he could still see the rust of epoxy even though the steps were pressure-cleaned. Mr. Hall 514

stated that the steel rails were rusting from the ground and should be replaced in two years. 515

Mr. Hall obtained a proposal for a new air conditioning unit for the Cross Creek 516

Guardhouse. The most affordable quote was from Castle Air Conditioning for $3,500. 517

Bids were obtained from two contractors. 518

519


with all in favor, authorizing Staff to replace the Guardhouse 521

air conditioning unit, in a not-to-exceed amount of $3,500, was 522

approved. 523

524

525

Mr. Hall obtained proposals from R&R Decorative Landscape Exteriors for $19,670, and 526

Electric Today Inc., for $120,000, for tree lighting along Cross Creek.. Lights would be 527

installed on every other palm tree. 528

Mr. Castillo asked if funds were budgeted for lighting. Mr. Adams stated that the source 529

was not yet identified. In response to a question, Mr. Hall stated that there were 50 palm trees 530

and 25 on each side. 531

Tag cameras, for the gates, would cost approximately $3,342 each, for a total of $6,685, 532

with a monthly fee of $84. The District had one camera. 533

In response to a question, Mr. Hall stated that the cost for a bar was $750. Mr. Woodards 534

approved of the bar purchase. In response to a question, Mr. Adams stated that the funds would 535

come from the unassigned fund balance. Mr. Castillo asked if the District could obtain a better 536

monthly recurring rate. Mr. Adams would ask for a discount since the District had several 537

cameras. 538


17


with all in favor, authorizing Staff to install one tag camera at 540

Morris Bridge Exit, for $3,342.50, with a recurring monthly fee 541

of $42, was approved. 542

543

544

The drainage needed inspection and repair. While inspecting the aerials of the large lake 545

structures, an earthen weir, near Cory Lakes Drive and Cory Lakes Boulevard, was 546

discovered. Proposals were obtained from Lovin Construction Inc., for $63,000, Thin 547

Outdoor, for $27,350, and Spearam Enterprises, for $25,210. 548

LakeMasters Aquatic Weed Control, Inc., (LakeMasters) examined all of the drain 549

outflows, around the community, primarily those flowing to the wetlands, which were not 550

examined the previous year. 551

The stormwater system needed attention. It would cost $25,000, plus $17,000, to repair 552

the outflows and improve functionality, and $9,500, to clean the inlets and remove 553

sediment. 554

Mr. Castillo stated that the District previously repaired the two biggest structures. Mr. 555

Adams stated that those repairs prevented a complete failure, which would have had a 556

catastrophic impact. In response to a question, Mr. Adams stated that, if the stormwater issues 557

were not addressed, the District risked having water back up in its streets. Currently, there were 558

periodic washouts, affecting water levels near Mary Isle and Cory Lake Boulevard, where the 559

lake structures were located. The District was not in compliance with its permit, as far as the 560

water quality, which needed prompt attention. Mr. Woodards asked for the total cost. Mr. Hall 561

stated that the estimated cost, from Spearam Enterprises, was $25,000. Discussion ensued 562

regarding the weir, permit violation, repairs and the proposals/bids. Mr. Adams suggested the 563

lowest bidder. Mr. Castillo suggested countering the two lowest bidders with $23,000. Mr. 564

Adams stated if either Spearam or Thin Outdoors rejected the District’s counter offer of $23,000, 565

the project would be tabled until Fall. 566

567


with all in favor, authorizing Staff to enter into a contract with 569

Spearam Enterprises to repair soil weirs and Banks, in a not-570

to-exceed amount of $23,000, was approved. 571

572


18

Mr. Shah asked for an update on the LED lights on the Tennis Courts, which were 573

approved at the previous meeting. Mr. Hall was awaiting a shipment. Three proposals for the 574

Christmas lights were expected. Mr. Woodards would not vote for the company hired last year, 575

no matter the profit margin. Mr. Castillo felt that, if the District could not obtain good service 576

from a reputable vendor, the CDD should forego Christmas lights and spend the $25,000 577

repairing structures. Mr. Adams stated that, at the next meeting, the Board would have an 578

opportunity to question each of the three contractors, about their services, prior to making a 579

commitment. 580

Ms. Haque asked for an update on the Fire Marshall’s visit. Mr. Hall stated that the Fire 581

Marshall performed a walk through and would grandfather in the building, when it was 582

completed, as opposed to changing its use from residential to municipal, and suggested changing 583

the capacity sign to 268. Mr. Hall was preparing for another inspection by installing $200 in 584

emergency lights and making sure all exit signs worked properly. He was confident that that the 585

District would pass inspection. 586

In response to a question regarding the kitchen, Mr. Hall was awaiting final proposals on 587

the kitchen remodel. The Ansul system needed an upgrade but could wait until Fiscal Year 588

2018. In response to Mr. Shah’s question, Mr. Hall stated that the Ansul system was the fire 589

retardant for the grill and the stoves. In response to Ms Haque’s question, Mr. Hall stated that 590

the kitchen, as well as the two adjoining bathrooms, needed to be remodeled to be deemed ADA- 591

compliant and up to code. 592

Mr. Shah asked for a status report on the Morris Bridge Fountain. Mr. Hall was awaiting 593

the motor that was previously ordered and it would be installed, once received. 594

Mr. Shah asked Mr. Hall to repair the sprinkler head, near the St. Lucia Bridge, and the 595

main faucet, in the men’s restroom in the gym. Mr. Hall would make the repairs. 596

Mr. Shah wanted to know what the District intended to do about the oil spill at his 597

residence. He spent $3,500 and asked if the District filed a claim with the insurance company. 598

Mr. Adams stated that it was on the Action Items List and would be addressed. 599

Mr. Shah felt that the security employees, at the gate, were not doing a good job, because 600

visitors were showing up at his door, without prior calls. Mr. Castillo was also unhappy the 601

security service and felt that they were paid to call residents, regardless of the new procedure 602

involving the app. Discussion ensued regarding the automated system, the security cameras and 603


19

the service. Mr. Castillo suggested inviting Mr. Jerry Berrios, from Alert Protective Services, to 604

the next meeting. Mr. Hall would contact Mr. Berrios. 605

Mr. Shah inquired about the status of the estimate for palm trees. Mr. Adams stated that 606

Management entered into an agreement with a contractor and the palm trees were being installed. 607

Ms. Haque stated that some trees were over pruned and asked that an e-mail be sent to place the 608

District on an opt-out list. 609

D. District Manager 610

i. 1,820 Registered Voters in District as of April 15, 2016 611

Mr. Adams stated that there were 1,820 registered voters residing within the boundaries 612

of the District as of April 15, 2016. 613

ii. NEXT MEETING DATE: June 15, 2017 at 6:00 P.M. 614

The next meeting will be held on June 15, 2017 at 6:00 p.m., at this location. 615

616

EIGHTEENTH ORDER OF BUSINESS Other Business 617

618

Mr. Castillo addressed the following: 619

1. Tree Easements. 620

Mr. Castillo asked for an update on the tree easements. Mr. Adams stated that there was 621

no interest, from homeowners, since there was no consistency in the trees. In response to Mr. 622

Castillo’s question, Mr. Adams stated that it was a POA enforcement issue and part of the 623

architectural review and maintenance. 624

625

NINTEENTH ORDER OF BUSINESS Public Comments (non-agenda items) 626

627

There being no public comments, the next item followed. 628

629

TWENTEENTH ORDER OF BUSINESS Supervisors’ Requests 630

631

There being no Supervisors’ requests, the next item followed. 632

633

TWENTY-FIRST ORDER OF BUSINESS Adjournment 634 635

There being no further business to discuss, the meeting adjourned at 11:29 p.m. 636

637


20

638

639

640

641

642

643

644

645

_________________________ ____________________________ 646

Secretary/Assistant Secretary Chair/Vice Chair 647

MINUTES OF LANDSCAPE/AQUASCAPE/FACILITIES COMMITTEE MEETING CORY LAKES COMMUNITY DEVELOPMENT DISTRICT

The Landscape/Aquascape/Facilities Committee meeting was held on Tuesday, June 6, 2017, at 12:30 p.m. at the Beach Club, 10441 Cory Lake Drive, Tampa, Florida. Present were: Rich Carpenter, John Hall (property manager), Dennis DiGiacomo, Steven Hancz, and Erin Uhler. Steve Small (representative of LMP) was also present during the landscape discussion. First Order of Business: Call to Order: Attendance The meeting was convened by Rich at Stephanie Squires (chair) request in her absence at 12:30 p.m. Second Order of Business: Landscape

1. The committee questioned whether all the dead palms had been replaced. John noted that they had. Rich questioned whether the small palms at the Cross Creek entrance were the same variety and why they were so small. John mentioned that they were Washingtonians like the rest, and that budget and installation expense required them to be smaller.

2. The committee questioned when the plants dug up by wild hogs at the Morris Bridge entrance would be replaced. John stated that a proposal is in progress and Steve Small of LMP said that as soon as the proposal was approved, he could have his workers start the process of installing the replacements.

3. Steve Small asked whether there were any other concerns regarding landscaping. Rich pointed out that the annuals in front of the Beach Club monument were dead or dying. Steve agreed to replace those annuals with a flowering perennial. Steven Hancz asked whether the fruit trees (banana) were going to be removed from CDD property, as homeowners have complained that it’s a double standard that they can’t have fruit trees in their yard, and fruit trees in CDD property could also attract rats. The committee discussed the idea of replacing the banana trees with another leafy plant, and Steve Small recommended planting hibiscus or other similar plants in their place. The cost to remove the 600 fruit trees is $1,800. To replace with 400 other trees would cost approximately $4,200. On motion by Dennis and second by Steven the committee voted unanimously to recommend to the Board to remove and replace the fruit trees from CDD property at a cost not to exceed $6,000.

Third order of Business: Aquascape

1. Rich mentioned that the Morris Bridge entrance fountain was still not working. John said that the company had to get a new motor for the fountain and that took quite a while, but that it now had been replaced. He thought that it was fixed. However, Steve Hancz said that it was not presently working. John was to check on it.

2. Rich pointed out that there are several large cement blocks that have been dislodged on the apron of the boat launch. It appears that they have already been scraped by a trailer or boat motor, and they are a danger to entering and exiting the water with a trailer. John stated that he must find someone to do the repair, because neither Lake Masters nor LMP does such work.

Fourth Order of Business: Facilities

1. Rich questioned what was to become of the old gym if a new one were to be built. The committee agreed to come to the next meeting with ideas so that those options could be presented to the Board at a future meeting.

2. The wind netting at the top of the new tennis courts needed attaching. John said that it had already been repaired.

3. Steven Hancz noted that there was graffiti written on the back of a Capri Isle sign and requested John to clean it off.

4. Steven also mentioned that there is no sidewalk along one side of the new playground installed in Capri Isle. He asked John to look into installing one as it is necessary to complete the walkway around the pocket park.

Fifth Order of Business: Old Business

1. The committee questioned the status of the landscape proposals. John mentioned that he had received 4 bids, that they were within $60 – $70,000 of each other per year, and that he and Chuck Adams were going through them to prepare a recommendation for the next Board meeting.

2. Rich questioned what was to become of the old gym if a new one were to be built. The committee agreed to come to the next meeting with ideas so that those ideas could be presented to the Board at a future meeting.

Sixth Order of Business: Other Items

1. The committee reviewed a list of costs and concerns regarding the proposed options for building a new gym the cost for just the building of between $668,000 to $1,197,000 depending on the option chosen. A possible list of additional costs that the committee feels the Board should consider prior to any presentation of the idea to the community are:

-cost for sewer -cost for security and cameras (inside and outside) -cost for gym equipment -cost for furniture -cost for mirrors -cost for tv’s -cost for internet and wi-fi -cost for wall protection for weights -cost for tables, chairs, cabinets, etc. -cost for ice/water machine and space for it

Concerns with the plans include:

-no storage areas in presented plans -adequate AC -shower privacy

Concerns with operational costs include:

-cleaning of rooms

-cleaning of equipment -cost of electricity -cost of water -attendant costs -towels, wipes, washing of towels, etc.

2. The committee reviewed the list of capital expense items it presented to the Board and put

them into a priority listing for further discussion with the Board. Dennis recommended that the

priority should be the benefit to the most number of residents. The revised listing follows:

-Revitalize Cross Creek entrance landscaping $175k

-Install landscaping in Capri Isle common areas $35k

-Install landscape lighting in the Morris Bridge entrance islands $17k

-Install LED lights for the volleyball court and hockey court $21.5k

-Install 3 picnic tables on a concrete pad on the beach with shade canopies $10.5k

-Clear the vacant land (known as the Meadows across from the Capri Isle exit)

and install gravel roadway and soccer/multi-purpose field $150k

-Replace/repair pool furniture (umbrellas and orange material on chairs) $10k

-Purchase new café tables and chairs for Beach Club $5k

-Replace gym equipment older than 3 years $18k

-Renovate the gym over a period of 3 years totaling not more than $100k

-Install fountain at intersection of Cross Creek entrance and CLD $10k

Seventh Order of Business: Adjournment 1:43 p.m. ACCEPTED BY THE BOARD OF SUPERVISORS AT THEIR MEETING HELD ON _____ DAY OF ___________, 2017. Jorge Castillo, Chairman Cory Lakes Community Development District ATTEST: Chuck Adams, Secretary


FINANCIAL STATEMENTSUNAUDITED

APRIL 30, 2017

1

General

DebtService

Series 1996

DebtService

Series 2013

DebtService

Series 2013A-1

DebtService

Series 2017 NoteCapitalProjects

CapitalProjects

Series 2015

TotalGovernmental

FundsASSETS Operating account

Iberia - operating acct 185,456$ -$ -$ -$ -$ -$ -$ 185,456$ Iberia - debit card 2,856 - - - - - - 2,856 SunTrust - operating acct 141,470 - - - - - - 141,470 SunTrust - debit card 2,694 - - - - - - 2,694 MMK account 1,442,437 - - - - - - 1,442,437

InvestmentsRevenue - 460,697 131,322 530,122 53,712 - - 1,175,853 Reserve - 43,500 51,024 250,853 10,000 - - 355,377 Prepayment - 15,286 - 10,689 - - - 25,975 Sinking - 299 - - - - - 299 Construction - - - - - 3,402 - 3,402

Due from other 1,991 - - - - - - 1,991 Due from other funds

General - - 4,039 20,437 2,278 - - 26,754 Capital projects: 2015 246,255 - - - - - - 246,255

Deposits 23,183 - - - - - - 23,183 Total assets 2,046,342$ 519,782$ 186,385$ 812,101$ 65,990$ 3,402$ -$ 3,634,002$

LIABILITIES Accounts payable 29,269$ -$ -$ -$ -$ -$ 22,705$ 51,974$ Due to other funds

General - - - - - - 246,255 246,255 Debt service fund - series 2013 4,039 - - - - - - 4,039 Debt service fund - series 2013A-1 20,437 - - - - - - 20,437 Debt service fund - 2017 note 2,278 - - - - - - 2,278

Accrued payroll taxes 323 - - - - - - 323 Total liabilities 56,346 - - - - - 268,960 325,306

FUND BALANCESNonspendable

Deposits 23,183 - - - - - - 23,183 Restricted for:

Debt service - 519,782 186,385 812,101 65,990 - - 1,584,258 Capital projects - - - - - 3,402 (268,960) (265,558)

Assigned3 months working capital 477,424 - - - - - - 477,424

Unassigned 1,489,389 - - - - - - 1,489,389 Total fund balances 1,989,996 519,782 186,385 812,101 65,990 3,402 (268,960) 3,308,696

Total liabilities and fund balances 2,046,342$ 519,782$ 186,385$ 812,101$ 65,990$ 3,402$ -$ 3,634,002$


BALANCE SHEET

APRIL 30, 2017GOVERNMENTAL FUNDS

Major Funds

2

CurrentMonth

Year ToDate

AdoptedBudget

% ofBudget

ProratedBudget

REVENUESAssessment levy: net of discounts 46,775$ 1,729,589$ 1,776,675$ 97% 1,036,394$ Interest and miscellaneous 715 24,644 25,000 99% 14,583

Total revenues 47,490 1,754,233 1,801,675 97% 1,050,977

EXPENDITURESAdministrativeSupervisors 1,000 5,000 12,000 42% 7,000 Payroll services - 345 600 58% 350 Payroll taxes - FICA 77 383 900 43% 525 Payroll taxes - unemployment - - 325 0% 190 District management 4,583 32,083 55,000 58% 32,083 Assessment roll preparation 417 2,917 5,000 58% 2,917 Bond amortization schedule fee - - 1,500 0% 875 Disclosure report - - 3,000 0% 1,750 Trustee - 10,182 10,182 100% 5,940 Audit 3,400 6,400 6,400 100% 3,733 Arbitrage rebate calculation - - 2,500 0% 1,458 Legal - general counsel - 5,343 5,000 107% 2,917 Engineering 4,000 10,760 10,000 108% 5,833 Insurance: general liability & public officials - 28,229 26,700 106% 15,575 Insurance: worker's compensation - 6,041 6,291 96% 3,670 Legal advertising - - 3,000 0% 1,750 Bank fees 107 772 200 386% 117 Dues & licenses - 175 175 100% 102 Postage 90 832 1,690 49% 986 Office supplies - 26 - N/A - Tax collector 936 34,589 74,028 47% 43,183 Contingencies - - 500 0% 292

Total Administrative 14,610 144,077 224,991 64% 131,245

Debt serviceNotes payable - Soave Group - DS - - 21,733 0% 12,678

Total Debt service - - 21,733 0% 12,678

Field operationsUtilities

Communication 1,794 11,802 13,000 91% 7,583 Website - 210 1,020 21% 595 Streetlights 11,617 68,907 120,000 57% 70,000 Electricity 4,576 25,924 63,000 41% 36,750 Propane - 403 400 101% 233 Water, sewer & irrigation 2,554 11,979 12,500 96% 7,292 Solid waste removal 575 4,261 6,200 69% 3,617 Sewer lift stations 150 900 2,500 36% 1,458 Total Utilities 21,266 124,386 218,620 57% 127,528


STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES

GENERAL FUNDFOR THE PERIOD ENDED APRIL 30, 2017

3

CurrentMonth

Year ToDate

AdoptedBudget

% ofBudget

ProratedBudget




Security operationsSecurity staffing contract services 22,494 132,775 256,500 52% 149,625 Contractual virtual guard 2,907 35,833 77,000 47% 44,917 Total Security operations 25,401 168,608 333,500 51% 194,542

Field office administrationField manager 3,763 28,548 47,500 60% 27,708 Office administrator 4,762 31,773 42,500 75% 24,792 Payroll taxes 727 5,250 9,000 58% 5,250 Seasonal decorations - 24,000 26,000 92% 15,167 Beach club office equipment 130 1,760 4,075 43% 2,377 Beach club office supplies 1,516 2,322 2,000 116% 1,167 Beach club gym supplies 779 7,588 12,300 62% 7,175 Guard office equipment - 1,124 1,000 112% 583 Guard office supplies 120 786 2,000 39% 1,167 Community events coordinator - 15,000 15,000 100% 8,750 Community events supplies - 1,241 15,000 8% 8,750 Special residential mailing - - 3,000 0% 1,750 Pool & beach club attendants 980 8,301 44,000 19% 25,667 Total Field office administration 12,777 127,693 223,375 57% 130,302

Landscape maintenanceLandscaping 21,650 149,450 265,000 56% 154,583 Street tree maintenance - 28,880 67,000 43% 39,083 Mulch - 49,574 56,000 89% 32,667 Beach sand - 4,992 4,500 111% 2,625 Annuals & seasonal plant installation - 3,250 9,000 36% 5,250 Plant replacement 9,274 18,805 40,000 47% 23,333 Sod replacement - - 10,000 0% 5,833 Well maintenance - irrigation 379 1,973 6,000 33% 3,500 Irrigation - maintenance 507 4,305 12,500 34% 7,292 Tree removal 580 11,328 25,000 45% 14,583 Lake & pond maintenance 3,625 31,259 45,000 69% 26,250 Total Landscape maintenance 36,015 303,816 540,000 56% 315,000

4

CurrentMonth

Year ToDate

AdoptedBudget

% ofBudget

ProratedBudget




Facilities maintenanceOutside facilities maintenance 1,150 17,697 35,000 51% 20,417 Car and cart repairs and maintenance 179 1,645 4,500 37% 2,625 Cleaning 1,198 8,972 14,000 64% 8,167 Pest control - 900 2,000 45% 1,167 Security gate maintenance & repair 450 5,967 5,000 119% 2,917 Security gate maintenance & repair - other - - 2,500 0% 1,458 Monuments & signs 593 4,288 5,000 86% 2,917 Fountains - - 7,000 0% 4,083 Storm water drainage - - 10,000 0% 5,833 Storage - - 1,500 0% 875 Recreation equipment maintenance & repair 2,025 10,915 15,000 73% 8,750 Building equipment maintenance & repair 806 14,949 20,000 75% 11,667 Pressure washing - 2,200 15,000 15% 8,750 Paver, streets and sidewalk repairs, cleaning - 33,192 125,000 27% 72,917 Clear & repair monument lanters - 606 2,500 24% 1,458 Commercial window cleaning - - 2,500 0% 1,458 Total Facilities maintenance 6,401 101,331 266,500 38% 155,458

Facilities maintenance (pool)Pool maintenance 2,000 10,100 22,900 44% 13,358 Pool repairs - 525 15,000 4% 8,750 Pool heater utilities 1,738 13,643 15,000 91% 8,750 Pool janitorial services - - 2,500 0% 1,458 Pool permit - - 575 0% 335 Total Facilities maintenance (pool) 3,738 24,268 55,975 43% 32,652 Total Field operations 105,598 850,102 1,637,970 52% 955,483

Infrastructure reinvestmentCapital improvement program 8,694 120,139 25,000 481% 14,583

Total Infrastructure reinvestment 8,694 120,139 25,000 481% 14,583 Total Expenditures 128,902 1,114,318 1,909,694 58% 1,113,988

Excess/(deficiency) of revenuesover/(under) expenditures (81,412) 639,915 (108,019)

Fund balance - beginning (unaudited) 2,071,408 1,350,081 1,323,241 Fund balance - ending (projected)

Assigned3 months working capital 477,424 477,424 477,424

Unassigned 1,512,572 1,512,572 737,798 Fund balance - ending 1,989,996$ 1,989,996$ 1,215,222$

5

CurrentMonth

Year ToDate Budget

% ofBudget

REVENUESPrepaid assessments -$ 15,286$ - N/AInterest 69 186 - N/A

Total revenues 69 15,472 - N/A

EXPENDITURESDebt servicePrincipal prepayment - 35,000 - N/APrincipal 1996A - - 110,000 0%Principal 1996B - - 335,000 0%Interest 1996A - 4,187 4,606 91%Interest 1996B - 14,028 14,028 100%

Total debt service - 53,215 463,634 11%

Excess/(deficiency) of revenuesover/(under) expenditures 69 (37,743) (463,634)

OTHER FINANCING SOURCESTransfer in 208,825 208,825 240,000 87%

Total other financing sources 208,825 208,825 240,000 87%Net change in fund balances 208,894 171,082 (223,634)

Fund balances - beginning 310,888 348,700 329,641 Fund balances - ending 519,782$ 519,782$ 106,007$

CORY LAKES

DEBT SERVICE FUND SERIES 1996

STATEMENT OF REVENUES, EXPENDITURES,

FOR THE PERIOD ENDED APRIL 30, 2017

COMMUNITY DEVELOPMENT DISTRICT

AND CHANGES IN FUND BALANCES

6

CurrentMonth

Year ToDate Budget

% ofBudget

REVENUESAssessment levy: net of discounts 2,739$ 101,303$ 104,159$ 97%Interest 40 79 - N/A

Total revenues 2,779 101,382 104,159 97%

EXPENDITURESDebt servicePrincipal - 20,000 20,000 100%Interest - 40,159 79,819 50%


Other fees & chargesTax collector 54 2,026 4,340 47%

Total other fees & charges 54 2,026 4,340 47%Total expenditures 54 62,185 104,159 60%

Excess/(deficiency) of revenuesover/(under) expenditures 2,725 39,197 -


CORY LAKES

DEBT SERVICE FUND SERIES 2013AND CHANGES IN FUND BALANCES


COMMUNITY DEVELOPMENT DISTRICTSTATEMENT OF REVENUES, EXPENDITURES,

7

CurrentMonth

Year ToDate Budget

% ofBudget

REVENUESAssessment levy: net of discounts 13,860$ 512,515$ 528,469$ 97%Interest 174 322 - N/A

Total revenues 14,034 512,837 528,469 97%

EXPENDITURESDebt servicePrincipal - - 420,000 0%Interest - 43,224 86,449 50%



Total other fees & charges 277 10,250 22,020 47%Total expenditures 277 53,474 528,469 10%

Excess/(deficiency) of revenuesover/(under) expenditures 13,757 459,363 -




DEBT SERVICE FUND SERIES 2013A-1FOR THE PERIOD ENDED APRIL 30, 2017

8

CurrentMonth

Year ToDate Budget

% ofBudget

REVENUESAssessment levy: net of discounts 1,545$ 57,132$ 58,852$ 97%

Total revenues 1,545 57,132 58,852 97%

EXPENDITURESDebt serviceNote principal - - 45,470 0%Note interest - - 5,938 0%Cost of issuance 16,175 16,175 - N/A

Total debt service 16,175 16,175 51,408 31%


Total other fees & charges 31 1,142 2,452 47%Total expenditures 16,206 17,317 53,860 32%

Excess/(deficiency) of revenuesover/(under) expenditures (14,661) 39,815 4,992

OTHER FINANCING SOURCES/(USES)Note proceeds 235,000 235,000 250,000 Transfer out (208,825) (208,825) (240,000)

Total other financing sources 26,175 26,175 10,000 Net change in fund balances 11,514 65,990 14,992

Fund balances - beginning 54,476 - - Fund balances - ending 65,990$ 65,990$ 14,992$



DEBT SERVICE FUND SERIES 2017 NOTEFOR THE PERIOD ENDED APRIL 30, 2017

9

CurrentMonth

Year toDate

REVENUES Interest & miscellaneous -$ 1$

Total revenues - 1

EXPENDITURESTotal expenditures - -

Excess/(deficiency) of revenuesover/(under) expenditures - 1

Fund balance - beginning 3,402 3,401 Fund balance - ending 3,402$ 3,402$




CAPITAL PROJECTS FUND

10

CurrentMonth

Year toDate

REVENUES -$ -$ Total revenues - -

EXPENDITURESCapital outlay 162,691 212,148

Total expenditures 162,691 212,148

Excess/(deficiency) of revenuesover/(under) expenditures (162,691) (212,148)

Fund balance - beginning (106,269) (56,812) Fund balance - ending (268,960)$ (268,960)$



CAPITAL PROJECTS FUND 2015FOR THE PERIOD ENDED APRIL 30, 2017

11

CORY LAKESCommunity Development District Series 1996A (CUSIP: 221034AC5)


Date Principal Coupon Interest Total P+I11/01/2016 - - 4,606.25 4,606.2505/01/2017 110,000.00 8.375% 4,606.25 114,606.25

Total $110,000.00 - $9,212.50 $119,212.50

12

CORY LAKESCommunity Development District Series 1996B (CUSIP: 221034AH4)


Date Principal Coupon Interest Total P+I11/01/2016 - - 15,912.50 15,912.5005/01/2017 380,000.00 8.375% 15,912.50 395,912.50

Total $380,000.00 - $31,825.00 $411,825.00

13



Date Principal Coupon Interest Total P+I11/01/2016 20,000.00 5.000% 40,159.38 60,159.3805/01/2017 - 39,659.38 39,659.3811/01/2017 25,000.00 5.000% 39,659.38 64,659.3805/01/2018 - 39,034.38 39,034.3811/01/2018 25,000.00 5.000% 39,034.38 64,034.3805/01/2019 38,409.38 38,409.3811/01/2019 25,000.00 5.000% 38,409.38 63,409.3805/01/2020 37,784.38 37,784.3811/01/2020 25,000.00 5.000% 37,784.38 62,784.3805/01/2021 37,159.38 37,159.3811/01/2021 30,000.00 5.000% 37,159.38 67,159.3805/01/2022 36,409.38 36,409.3811/01/2022 30,000.00 5.000% 36,409.38 66,409.3805/01/2023 35,659.38 35,659.3811/01/2023 30,000.00 5.000% 35,659.38 65,659.3805/01/2024 34,909.38 34,909.3811/01/2024 35,000.00 5.625% 34,909.38 69,909.3805/01/2025 33,925.00 33,925.0011/01/2025 35,000.00 5.625% 33,925.00 68,925.0005/01/2026 32,940.63 32,940.6311/01/2026 35,000.00 5.625% 32,940.63 67,940.6305/01/2027 31,956.25 31,956.2511/01/2027 40,000.00 5.625% 31,956.25 71,956.2505/01/2028 30,831.25 30,831.2511/01/2028 40,000.00 5.625% 30,831.25 70,831.2505/01/2029 29,706.25 29,706.2511/01/2029 45,000.00 5.625% 29,706.25 74,706.2505/01/2030 28,440.63 28,440.6311/01/2030 45,000.00 5.625% 28,440.63 73,440.6305/01/2031 27,175.00 27,175.0011/01/2031 50,000.00 5.625% 27,175.00 77,175.0005/01/2032 25,768.75 25,768.7511/01/2032 50,000.00 5.625% 25,768.75 75,768.7505/01/2033 24,362.50 24,362.5011/01/2033 55,000.00 5.625% 24,362.50 79,362.5005/01/2034 22,815.63 22,815.6311/01/2034 55,000.00 6.125% 22,815.63 77,815.6305/01/2035 21,131.25 21,131.2511/01/2035 60,000.00 6.125% 21,131.25 81,131.2505/01/2036 19,293.75 19,293.7511/01/2036 65,000.00 6.125% 19,293.75 84,293.7505/01/2037 17,303.13 17,303.1311/01/2037 70,000.00 6.125% 17,303.13 87,303.1305/01/2038 15,159.38 15,159.3811/01/2038 70,000.00 6.125% 15,159.38 85,159.3805/01/2039 13,015.63 13,015.63

$1,425,000

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Date Principal Coupon Interest Total P+I

$1,425,000

11/01/2039 75,000.00 6.125% 13,015.63 88,015.6305/01/2040 10,718.75 10,718.7511/01/2040 80,000.00 6.125% 10,718.75 90,718.7505/01/2041 8,268.75 8,268.7511/01/2041 85,000.00 6.125% 8,268.75 93,268.7505/01/2042 5,665.63 5,665.6311/01/2042 90,000.00 6.125% 5,665.63 95,665.6305/01/2043 2,909.38 2,909.3811/01/2043 95,000.00 6.125% 2,909.38 97,909.38

Total $1,385,000.00 - $1,440,984.38 $2,825,984.38Beach club gym supplies

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CORY LAKESCommunity Development District Series 2013 Refunding Bonds


Date Principal Coupon Interest Total P+I11/01/2016 43,495.50 43,495.5005/01/2017 425,000.00 2.710% 43,495.50 468,495.5011/01/2017 37,736.75 37,736.7505/01/2018 435,000.00 2.710% 37,736.75 472,736.7511/01/2018 31,842.50 31,842.5005/01/2019 445,000.00 2.710% 31,842.50 476,842.5011/01/2019 25,812.75 25,812.7505/01/2020 460,000.00 2.710% 25,812.75 485,812.7511/01/2020 19,579.75 19,579.7505/01/2021 470,000.00 2.710% 19,579.75 489,579.7511/01/2021 13,211.25 13,211.2505/01/2022 485,000.00 2.710% 13,211.25 498,211.2511/01/2022 6,639.50 6,639.5005/01/2023 490,000.00 2.710% 6,639.50 496,639.50

Total $3,210,000.00 - $356,636.00 $3,566,636.00

$4,245,000

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Cory Lakes Community Development District Facilities Manager June 2017, Activity Report ________________________________________________________________________ BEACH CLUB

1. Replaced air filters and flushed drain lines. 2. Replaced broken outlet cover by play area. 3. Tightened hinges on office managers door. 4. Changed air filters and flushed drain lines Pool 1. Changed air fresheners. 2. Cleaned air filters

PLAYGROUND 1. Working with Playmore to replace broken Bumble Bee rider. GYM 1. Cleaned faucet aerator in men’s bathroom. 2. Kept gym clean and organized. 3. Replaced broken handle on toilet in ladies room. 4. Replaced air filters and flushed drain lines.

LANDSCAPING 1. Hardy Farms replaces 14 trees. Hand and truck watering them to try and help them survive the drought. 2. LMP working on replacing missing plants along MB entrance. 3. LMP continuing cut backs along entrances. 4. LMP working on replacing missing plants along MB entrance

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LAKE MANAGEMENT 1. 5/15/17- Sprayed shoreline grass and brush 2. 5/22/17- Sprayed shoreline grass and brush. 3. 5/31/17- Treated lake from john boat. Need to keep an eye on the algae in case of bloom. 4. Architectural fountains working on MB fountain. Replaced motor and wiring. 5. Reset run time on fountain to 8 hours a day per new city regulations. SECURITY 1. Had Tire replaced and alignment done on Patrol car after rover hit drain gutter. Alert to reimburse. OTHER ACTIONS 1. Replaced motor and controls for DR grader for beach. 2. Rehung screens at tennis courts on two separate occasions. 3. Working with LMP on Capri park buffer hedge and irrigation changes. 4. Replaced tennis net ratchet mechanism for 4th time. (On new courts) 5. Worked with Phil and Dockworks on ADA dock bid. Received bid for $18,500k 6. Digital signs installed at entrances by International Sign. 7. Electric Today ran electric to the signs now need programmer installed. 8. Electric Today gave bid for volleyball lights. $8,435 for 2 poles with 4 heads $14,150 for 4 poles with 8 heads. Recommend the two pole set up. 9. Worked with 5 landscape companies providing information for bid process. Received 4 bids for landscape. 10. Worked with 3 Christmas lighting companies on proposals for Christmas lights to get a good starting point for this years lighting plans. Received all three bids. Cross-Creek Security Gatehouse 1. Kassel’s A/C replaced the air conditioning units. 2. Worked with Spectrum to resolve phone issues. 3. Replaced air conditioning filter and flushed lines. Morris Bridge Security Gatehouse 1. Had Gate Tech replace gate arm bracket after resident hit and broke it in half. Will ord

er new arm. Again.

2. Replaced bulb in outside can light.

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3. Replaced air filters and flushed drain lines.

Action Plan for June * Continue working on any LAF items/ budget request pricing. * Continue working to get proposals to fix issues with the sidewalks. * Work with LMP on Capri pocket park project * Work on landscape plans and prints for future use. * Work on landscape lighting for both entrances. * Find a supplier for the old style walls for the hockey rink. * Work with Christmas light companies for designs for the board to review. * Get final proposal for scoping stormwater system from Phil

community development district agenda june 15, 2017 · 6/15/2017 · the board of supervisors of...

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