COCO PALMS COMMUNITY DEVELOPMENT DISTRICT

Transcription

1 COCO PALMS COMMUNITY DEVELOPMENT DISTRICT MIAMI-DADE COUNTY REGULAR BOARD MEETING & PUBLIC HEARING JUNE 23, :15 A.M. Special District Services, Inc Miami Lakes Drive, Suite 374 Miami Lakes, FL Telephone 877.SDS.4922 Toll Free Facsimile

2 AGENDA 730 NW 107 th Avenue, Third Floor, Suite 300 Meeting Room Miami, Florida REGULAR BOARD MEETING & PUBLIC HEARING June 23, :15 a.m. A. Call to Order B. Proof of Publication...Page 1 C. Establish Quorum D. Additions or Deletions to Agenda E. Comments from the Public for Items Not on the Agenda F. Approval of Minutes 1. April 20, 2016 Regular Board Meeting...Page 4 G. Public Hearing A and Public Hearing B 1. Proof of Publication..Page 7 2. Receive Public Comment on 2016/2017 Fiscal Year Final Budget & Assessments 3. Receive Public Comment on Levying Assessments for Collection by County Tax Collector 4. Consider Resolution No Adopting a 2016/2017 Fiscal Year Final Budget...Page 10 H. Old Business 1. Staff Report: As Required I. New Business 1. Consider Resolution No Adopting a Fiscal Year 2016/2017 Regular Meeting Schedule...Page Staff Report as Required J. Administrative & Operational Matters 1. Financial Risk Management Policy Review/Update 2015/2016 Fiscal Year 2. Statement of Financial Interests-Disclosure 2015 Form 1 Filing Deadline: July 1, 2016 K. Board Member & Staff Closing Comments L. Adjourn

3 Page 1

4 Page 2

5 Page 3

6 REGULAR BOARD MEETING APRIL 20, 2016 A. CALL TO ORDER District Manager Neil Kalin called the April 20, 2016, Regular Board Meeting of the Coco Palms Community Development District to order at approximately 11:28 a.m. in the Meeting Room located at 730 NW 107 th Avenue, Third Floor, Suite 300, Miami, Florida B. PROOF OF PUBLICATION Mr. Kalin presented proof of publication that notice of the Regular Board Meeting had been published in the Miami Daily Business Review on December 7, 2015, as legally required. C. ESTABLISH A QUORUM Mr. Kalin determined that the attendance of Vice Chairperson Teresa Baluja and Supervisors Indira Jimenez and Yadira Monzon constituted a quorum and it was in order to proceed with the meeting. Also in attendance were: District Manager Neil Kalin of Special District Services, Inc.; and District Counsel Gerald Knight of Billing, Cochran, Lyles, Mauro & Ramsey, P.A. Also present was Armando Silva of Special District Services, Inc. D. ADDITIONS OR DELETIONS TO THE AGENDA There were no additions or deletions to the agenda. E. COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA There were no comments from the public for items not on the agenda. F. APPROVAL OF MINUTES 1. January 20, 2016, Public Hearing & Regular Board Meeting The minutes of the January 20, 2016, Public Hearing & Regular Board Meeting were presented for approval. There being no changes/corrections, a motion was made by Ms. Baluja, seconded by Ms. Jimenez and passed unanimously approving the minutes of the January 20, 2016, Public Hearing & Regular Board Meeting, as presented. G. OLD BUSINESS 1. Staff Report, as Required There was no Staff Report at this time. Page 1 of 3 Page 4

7 REGULAR BOARD MEETING APRIL 20, 2016 H. NEW BUSINESS 1. Consider Resolution No Adopting a Fiscal Year 2016/2017 Proposed Budget Resolution No was presented, entitled: RESOLUTION NO A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE APPROVING A PROPOSED BUDGET AND NON-AD VALOREM SPECIAL ASSESSMENTS FOR FISCAL YEAR 2016/2017; AND PROVIDING AN EFFECTIVE DATE. Mr. Kalin read the title of the resolution into the record and reviewed the proposed budget line items. Mr. Kalin informed the Board Members that since the assessments would be going on the tax roll for the first time that letters to property owners/residents would be required. Furthermore, Mr. Kalin stated as part of Resolution No the Board must set a date for the public hearing to adopt the 2016/2017 final fiscal year budget and assessments. A discussion ensued after which: A motion was made by Ms. Baluja, seconded by Ms. Monzon and unanimously passed to approve and adopt Resolution No , as presented, setting the public hearing, to adopt the 2016/2017 final fiscal year budget and assessments for June 23, 2016, at 11:15 a.m. in the Suite 300 Meeting Room located at 730 NW 107 th Avenue, Third Floor, Suite 300, Miami, Florida 33172; and authorizes publication of the budget public hearing, as required by law. I. ADMINISTRATIVE & OPERATIONAL MATTERS 1. Financial Disclosure 2015 Form 1 Filing Deadline: July 1, 2016 The Board Members were reminded of the importance of completing and mailing to the Supervisor of Elections within the County of residency their individual 2015 Statement of Financial Interests Form. He indicated that the 2015 Form 1 was expected to be mailed to the Board Members sometime in May Staff Report, as Required There was no Staff Report at this time. J. BOARD MEMBER & STAFF CLOSING COMMENTS It was noted that the next meeting was scheduled for June 23, Page 2 of 3 Page 5

8 REGULAR BOARD MEETING APRIL 20, 2016 K. ADJOURNMENT There being no further business to conduct, a motion was made by Ms. Baluja, seconded by Ms. Monzon and unanimously passed to adjourn the Regular Board Meeting at 11:37 a.m. Secretary/Assistant Secretary Chairperson/Vice Chairperson Page 3 of 3 Page 6

9 Page 7

10 Page 8

11 Page 9

12 RESOLUTION NO A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE APPROVING AND ADOPTING A FISCAL YEAR 2016/2017 FINAL BUDGET INCLUDING NON-AD VALOREM SPECIAL ASSESSMENTS PURSUANT TO CHAPTER 190, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Board of Supervisors (the Board ) of the Coco Palms Community Development District ( District ) has prepared a Proposed Budget and Final Special Assessment Roll for Fiscal Year 2016/2017 and has held a duly advertised Public Hearing to receive public comments on the Proposed Budget and Final Special Assessment Roll; and WHEREAS, following the Public Hearing and the adoption of the Proposed Budget and Final Assessment Roll, the District is now authorized to levy non-ad valorem assessments upon the properties within the District. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE, THAT: Section 1. The Final Budget and Final Special Assessment Roll for Fiscal Year 2016/2017 attached hereto as Exhibit A is approved and adopted, and the assessments set forth therein shall be levied. Section 2. The Secretary and/or Assistant Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with the intent of this Resolution. PASSED, ADOPTED and EFFECTIVE this 23 rd day of June, ATTEST: COCO PALMS COMMUNITY DEVELOPMENT DISTRICT By: Secretary/Assistant Secretary By: Chairperson/Vice Chairperson Page 10

13 Coco Palms Community Development District Final Budget For Fiscal Year 2016/2017 October 1, September 30, 2017 Page 11

14 CONTENTS I II III IV FINAL BUDGET DETAILED FINAL BUDGET DETAILED FINAL DEBT SERVICE FUND BUDGET ASSESSMENT COMPARISON Page 12

15 FINAL BUDGET FISCAL YEAR 2016/2017 OCTOBER 1, SEPTEMBER 30, 2017 FISCAL YEAR 2016/2017 REVENUES BUDGET Administrative Assessments 75,122 Maintenance Assessments 37,553 Developer Contribution 0 Debt Assessments 693,139 Interest Income 60 TOTAL REVENUES $ 805,874 EXPENDITURES Administrative Expenditures Supervisor Fees 0 Management 29,100 Legal 13,000 Assessment Roll 7,500 Audit Fees 4,000 Arbitrage Rebate Fee 650 Insurance 5,500 Legal Advertisements 1,500 Miscellaneous 1,500 Postage 750 Office Supplies 1,000 Dues & Subscriptions 175 Trustee Fees 3,500 Continuing Disclosure Fee 1,000 Website Management 1,500 Total Administrative Expenditures $ 70,675 Maintenance Expenditures Annual Engineer's Report/Inspections/Field Ops Mgt 2,200 Lawn & Landscape Tract Maintenance 5,000 Entrance Feature Maintenance 3,600 Irrigation System Maintenance/Upkeep 2,400 Roadway/Drainage System Maintenance-Upkeep 3,600 Fountain Maintenance/Upkeep 4,000 FP&L Power/Utility 7,200 Miscellaneous Maintenance 3,700 Lake - Aquatic Maintenance 3,600 Total Maintenance Expenditures $ 35,300 TOTAL EXPENDITURES $ 105,975 REVENUES LESS EXPENDITURES $ 699,899 Bond Payments (651,551) BALANCE $ 48,348 County Appraiser & Tax Collector Fee (16,116) Discounts For Early Payments (32,232) EXCESS/ (SHORTFALL) $ - 6/15/2016 5:49 PM I Page 13

16 DETAILED FINAL BUDGET FISCAL YEAR 2016/2017 OCTOBER 1, SEPTEMBER 30, 2017 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2014/ / /2017 REVENUES ACTUAL BUDGET BUDGET COMMENTS Administrative Assessments ,122 Expenditures Less Interest & Carryover/.94 Maintenance Assessments ,553 Expenditures/.94 Developer Contribution 0 98,450 0 Debt Assessments ,139 Bond Payments/.94 Interest Income Interest Projected At $5 Per Month TOTAL REVENUES $ - $ 98,450 $ 805,874 EXPENDITURES Administrative Expenditures Supervisor Fees Management 0 24,250 29, Months X $2,425 - CPI Adjustment Will Commence In 2017/2018 Legal 0 13,000 13,000 No Change From 2015/2016 Budget Assessment Roll 0 7,500 7,500 As Per Contract Audit Fees 0 0 4,000 First Year Of Expenditure Arbitrage Rebate Fee First Year Of Expenditure Insurance 0 5,500 5,500 Insurance Company Estimate Legal Advertisements 0 6,000 1,500 $4,500 Decrease From 2015/2016 Budget Miscellaneous 0 2,000 1,500 $500 Decrease From 2015/2016 Budget Postage 0 1, $250 Decrease From 2015/2016 Budget Office Supplies 0 1,175 1,000 $175 Decrease From 2015/2016 Budget Dues & Subscriptions No Change From 2015/2016 Budget Trustee Fees 0 0 3,500 First Year Of Expenditure Continuing Disclosure Fee 0 1,000 1,000 No Change From 2015/2016 Budget Website Management 0 1,250 1, Months X $125 (10 Months X $125 in 2015/2016) Total Administrative Expenditures $ - $ 62,850 $ 70,675 Maintenance Expenditures Annual Engineer's Report/Inspections/Field Ops Mgt 0 2,200 2,200 No Change From 2015/2016 Budget Lawn & Landscape Tract Maintenance 0 5,000 5,000 No Change From 2015/2016 Budget Entrance Feature Maintenance 0 3,600 3,600 No Change From 2015/2016 Budget Irrigation System Maintenance/Upkeep 0 2,400 2,400 No Change From 2015/2016 Budget Roadway/Drainage System Maintenance-Upkeep 0 3,600 3,600 No Change From 2015/2016 Budget Fountain Maintenance/Upkeep 0 4,000 4,000 No Change From 2015/2016 Budget FP&L Power/Utility 0 7,200 7,200 No Change From 2015/2016 Budget Miscellaneous Maintenance 0 4,000 3,700 $300 Decrease From 2015/2016 Budget Lake - Aquatic Maintenance 0 3,600 3,600 No Change From 2015/2016 Budget Total Maintenance Expenditures $ - $ 35,600 $ 35,300 TOTAL EXPENDITURES $ - $ 98,450 $ 105,975 REVENUES LESS EXPENDITURES $ - $ - $ 699,899 Bond Payments 0 0 (651,551) 2017 P & I Payments Less Earned Interest BALANCE $ - $ - $ 48,348 County Appraiser & Tax Collector Fee 0 0 (16,116) Two Percent Of Total Assessment Roll Discounts For Early Payments 0 0 (32,232) Four Percent Of Total Assessment Roll EXCESS/ (SHORTFALL) $ - $ - $ - 6/15/2016 5:49 PM II Page 14

17 DETAILED FINAL DEBT SERVICE FUND BUDGET FISCAL YEAR 2016/2017 OCTOBER 1, SEPTEMBER 30, 2017 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2014/ / /2017 REVENUES ACTUAL BUDGET BUDGET COMMENTS Interest Income Projected Interest For 2016/2017 NAV Tax Collection , P & I Payments Less Earned Interest Total Revenues $ - $ - $ 651,551 EXPENDITURES Principal Payments ,000 Principal Payment Due In 2017 Interest Payments ,551 Interest Payments Due In 2017 Total Expenditures $ - $ - $ 651,551 Excess/ (Shortfall) $ - $ - $ - Series 2016 Bond Information Original Par Amount = $10,355,000 Annual Principal Payments Due = May 1st Interest Rate = 3.75% % Annual Interest Payments Due = May 1st & November 1st Issue Date = February 2016 Maturity Date = May /15/2016 5:49 PM III Page 15

18 ASSESSMENT COMPARISON Original Fiscal Year Fiscal Year Projected 2015/ /2017 Debt Assessment* Assessment* Projected Assessment* Administrative For Single Family Units $ - $ - $ Maintenance For Single Family Units $ - $ - $ Debt For Single Family Units $ 1, $ - $ 1, Total For Single Family Units $ 1, $ - $ 1, Administrative For Townhome Units $ - $ - $ Maintenance For Townhome Units $ - $ - $ Debt For Townhomes Units $ $ - $ Total For Townhomes Units $ $ - $ 1, Administrative For Villa Units $ - $ - $ Maintenance For Villa Units $ - $ - $ Debt For Villa Units $ $ - $ Total For Villa Units $ $ - $ * Assessments Include the Following : 4% Discount for Early Payments 1% County Tax Collector Fee 1% County Property Appraiser Fee Community Information: Single Family Units 181 Townhomes Units 309 Villa Units 253 Total Units 743 Gross Total Covenant Amounts Single Family Units $1, Townhomes Units $1, Villa Units $ /15/2016 5:49 PM IV Page 16

19 RESOLUTION NO A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COCO PALMS COMMUNITY DEVELOPMENT DISTRICT, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2016/2017 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, it is necessary for the Coco Palms Community Development District ("District") to establish a regular meeting schedule for fiscal year 2016/2017; and WHEREAS, the Board of Supervisors of the District has set a regular meeting schedule, location and time for District meetings for fiscal year 2016/2017 which is attached hereto and made a part hereof as Exhibit A. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE, MIAMI-DADE COUNTY, FLORIDA, AS FOLLOWS: Section 1. The above recitals are hereby adopted. Section 2. The regular meeting schedule, time and location for meetings for fiscal year 2016/2017 which is attached hereto as Exhibit A is hereby adopted and authorized to be published. PASSED, ADOPTED and EFFECTIVE this 23 rd day of June, ATTEST: COCO PALMS COMMUNITY DEVELOPMENT DISTRICT By: Secretary/Assistant Secretary By: Chairperson/Vice Chairperson Page 17

20 FISCAL YEAR 2016/2017 REGULAR MEETING SCHEDULE NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Coco Palms Community Development District will hold Regular Meetings at Lennar Homes, LLC located at 730 NW 107 th Avenue, 3 rd Floor, Suite 300 Meeting Room, Miami, Florida at 11:15 a.m. on the following dates: October 19, 2016 November 16, 2016 December 21, 2016 January 18, 2017 February 15, 2017 March 15, 2017 April 19, 2017 May 17, 2017 June 21, 2017 July 19, 2017 August 16, 2017 September 20, 2017 The purpose of the meetings is for the Board to consider District business which may lawfully and properly come before the Board. Meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Copies of the Agenda for any of the meetings may be obtained by contacting the District Manager at and/or toll free at five (5) days prior to the date of the particular meeting. From time to time one or two Supervisors may participate by telephone; therefore, a speaker telephone will be present at the meeting location so that Supervisors may be fully informed of the discussions taking place. Said meeting(s) may be continued as found necessary to a time and place specified on the record. If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to insure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based. In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at any of these meetings should contact the District Manager at and/or toll free at at least seven (7) days prior to the date of the particular meeting. Meetings may be cancelled from time to time without advertised notice. PUBLISH: MIAMI DAILY BUSINESS REVIEW XX/XX/16 Page 18