CITYPLACE COMMUNITY DEVELOPMENT DISTRICT

Transcription

1 CITYPLACE COMMUNITY DEVELOPMENT DISTRICT PALM BEACH COUNTY REGULAR BOARD MEETING & PUBLIC HEARING AUGUST 26, :30 A.M. Special District Services, Inc. The Oaks Center 2501A Burns Road Palm Beach Gardens, FL Telephone 877.SDS.4922 Toll Free Facsimile

2 AGENDA CITYPLACE COMMUNITY DEVELOPMENT DISTRICT Chamber of Commerce of the Palm Beaches 401 North Flagler Drive West Palm Beach, Florida REGULAR BOARD MEETING & PUBLIC HEARING August 26, :30 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. June 17, 2016 Regular Board Meeting Minutes Page 2 G. Public Hearing 1. Proof of Publication..Page 5 2. Receive Public Comments on Fiscal Year 2016/2017 Final Budget 3. Consider Resolution No Adopting a Fiscal Year 2016/2017 Final Budget Page 6 H. Old Business I. New Business 1. Consider Resolution No Adopting a Fiscal Year 2016/2017 Meeting Schedule Page Consider Resolution No Authorizing the Establishment of a District Checking/Operating Account, Designating District Officials and/or Authorized Staff to Review, Approve and Issue Payment of Expenditures, Selecting the Signatories..Page Discussion Regarding Insurance Requirements Page Discussion Regarding Landowners Meeting Date J. Administrative Matters K. Board Members Comments L. Adjourn

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4 CITYPLACE COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING JUNE 17, 2016 A. CALL TO ORDER District Manager Richard Ellington called the June 17, 2016, Regular Board Meeting of the CityPlace Community Development District to order at 8:40 a.m. at the Chamber of Commerce of the Palm Beaches located at 401 North Flagler Drive, West Palm Beach, Florida B. PROOF OF PUBLICATION Proof of publication was presented that notice of the Regular Board Meeting had been published in The Palm Beach Post on November 2, 2015, as part of the District s Fiscal Year Regular Meeting Schedule, as legally required. C. ESTABLISH A QUORUM It was determined that the attendance of Supervisors Ken Tuma, Dennis Grady and Wendy Sartory Link constituted a quorum and it was in order to proceed with the meeting. Staff in attendance were: District Manager Richard Ellington of Special District Services, Inc.; and District Counsel Bill Capko of Lewis Longman & Walker, P.A. The first order of the business was to designate a Chairman for the meeting since neither the Chairman nor the Vice Chairman were present. Ms. Link nominated Mr. Grady, Mr. Tuma seconded and the motion carried 3 to 0 to name Mr. Grady as the Chairman of the meeting. 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. November 13, 2015, Regular Board Meeting Mr. Ellington presented the minutes of the November 13, 2015, Regular Board Meeting and without comment, Mr. Grady moved and Ms. Link seconded that the minutes of the November 13, 2015, Regular Board Meeting be approved, as presented. That motion carried 3 to 0. G. OLD BUSINESS There were no Old Business items to come before the Board. Page 2

5 CITYPLACE COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING JUNE 17, 2016 H. NEW BUSINESS 1. Consider Resolution No Adopting a Fiscal Year 2016/2017 Proposed Budget Mr. Ellington introduced Resolution No , entitled: RESOLUTION NO A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE CITYPLACE COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2016/2017; AND PROVIDING AN EFFECTIVE DATE. Mr. Ellington went through the expenses for maintenance, which had been provided by Related & Company through Mr. Hallihan s office for the purposes of the pass-through expenses related to the operation of CityPlace. Ms. Link raised a question regarding the difference in the proposed income for the CAM tenants and Mr. Ellington indicated that he did not have the answer, but would get that information for her prior to the time of the Public Hearing. With that explanation, Ms. Link moved approval of Resolution No , Mr. Tuma seconded and the motion carried 3 to Announce Annual Landowners Meeting November 11, 2016 Mr. Ellington then announced that there would be an Annual Landowners Meeting on November 11, 2016, for the purposes of electing Board Members to the District and that the procedures that were attached in the booklet would be those procedures that would be followed in holding the Landowners Election. Ms. Link moved approval, Mr. Tuma seconded and the motion carried 3 to 0. I. ADMINISTRATIVE MATTERS There were no Administrative Matters to come before the Board. J. BOARD MEMBER COMMENTS There were no comments from the Board Members. K. ADJOURNMENT There being no further business to come before the Board, the Regular Board Meeting was adjourned at 8:45 a.m. on a motion from Ms. Link, seconded by Mr. Tuma and the motion carried 3 to 0. Page 3

6 CITYPLACE COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING JUNE 17, 2016 Secretary/Assistant Secretary Chair/Vice-Chair Page 4

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8 RESOLUTION NO A RESOLUTION OF THE CITYPLACE COMMUNITY DEVELOPMENT DISTRICT ADOPTING A FISCAL YEAR 2016/2017 BUDGET. WHEREAS, the CityPlace 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 CITYPLACE COMMUNITY DEVELOPMENT DISTRICT 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 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 26 th day of August, ATTEST: CITYPLACE COMMUNITY DEVELOPMENT DISTRICT By: Secretary/Assistant Secretary By: Chairperson/Vice Chairperson Page 6

9 CityPlace Community Development District Final Budget For Fiscal Year 2016/2017 October 1, September 30, 2017 Page 7

10 CONTENTS I II III FINAL BUDGET DETAILED FINAL BUDGET DETAILED FINAL DEBT SERVICE FUND BUDGET Page 8

11 FINAL BUDGET CITYPLACE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2016/2017 OCTOBER 1, SEPTEMBER 30, 2017 FISCAL YEAR 2016/2017 REVENUES BUDGET Assessments - Administrative 123,475 Assessments - Maintenance 2,462,570 Parking Revenue 5,045,160 Sponsor & Promotion Revenue 108,300 Rental Income 45,000 Tenant CAM Reimbursement 812,900 Interest Income 120 TOTAL REVENUES $ 8,597,525 EXPENDITURES ADMINISTRATIVE EXPENDITURES Supervisor Fees 4,000 Payroll Taxes (Employer) 320 Engineering 2,000 Management Fee 37,200 Legal 8,000 Audit Fees 8,400 Arbitrage Rebate Fee 950 Insurance 48,000 Legal Advertising 1,400 Bank Service Charges 350 Miscellaneous 1,200 Postage 250 Office Supplies 550 Dues & Subscriptions 175 Trustee Fees 8,300 Continuing Disclosure Fee 1,000 Website Management 1,500 TOTAL ADMINISTRATIVE EXPENDITURES $ 123,595 MAINTENANCE EXPENDITURES Palladium CDD Property Parking Expenses 2,300,000 Administrative 450,000 Payroll 713,500 Professional Fees 75,000 Sweeping and Cleaning 385,000 Utilities 825,000 Insurance 65,000 Landscaping And Irrigation 247,900 Contracted Services 170,000 Repairs & Maintenance 175,000 Security 2,100,000 Marketing 440,000 Management Fee 200,000 Plaza CDD Property Plaza Entertainment 300,000 Signage 27,530 TOTAL MAINTENANCE EXPENDITURES $ 8,473,930 TOTAL EXPENDITURES $ 8,597,525 EXCESS/ (SHORTFALL) $ - 8/11/2016 1:34 PM I Page 9

12 DETAILED FINAL BUDGET CITYPLACE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2016/2017 OCTOBER 1, SEPTEMBER 30, 2017 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2014/ / /2017 REVENUES ACTUAL BUDGET BUDGET COMMENTS Assessments - Administrative 121, , ,475 Administrative Expenditures Less Interest Assessments - Maintenance 2,756,533 1,557,160 2,462,570 $905,410 Increase From 2015/2016 Budget Parking Revenue 4,524,313 5,045,160 5,045,160 No Change From 2015/2016 Budget Sponsor & Promotion Revenue 44, , ,300 No Change From 2015/2016 Budget Rental Income 41,475 45,000 45,000 No Change From 2015/2016 Budget Tenant CAM Reimbursement 646,047 1,112, ,900 $300,000 Decrease From 2015/2016 Budget Interest Income Projected At $10 Per Month TOTAL REVENUES $ 8,134,389 $ 7,992,813 $ 8,597,525 EXPENDITURES ADMINISTRATIVE EXPENDITURES Supervisor Fees 2,754 4,000 4,000 Projected At Four Meetings Per Year Payroll Taxes (Employer) Projected At 8% Of Supervisor Fees Engineering 0 2,000 2,000 No Change From 2015/2016 Budget Management Fee 36,660 36,948 37,200 CPI Adjustment Legal 4,195 8,500 8,000 $500 Decrease From 2015/2016 Budget Audit Fees 8,000 8,200 8,400 Accepted Amount For 2015/2016 Audit Arbitrage Rebate Fee 950 1, $450 Decrease From 2015/2016 Budget Insurance 42,488 48,000 48,000 Insurance Company Estimate Legal Advertising 1,376 1,400 1,400 No Change From 2015/2016 Budget Bank Service Charges No Change From 2015/2016 Budget Miscellaneous 602 1,200 1,200 No Change From 2015/2016 Budget Postage No Change From 2015/2016 Budget Office Supplies No Change From 2015/2016 Budget Dues & Subscriptions No Change From 2015/2016 Budget Trustee Fees 7,358 8,500 8,300 $200 Decrease From 2015/2016 Budget Continuing Disclosure Fee 1,000 1,000 1,000 No Change From 2015/2016 Budget Website Management 0 1,500 1,500 No Change From 2015/2016 Budget TOTAL ADMINISTRATIVE EXPENDITURES $ 106,481 $ 124,293 $ 123,595 MAINTENANCE EXPENDITURES Palladium CDD Property Parking Expenses 2,219,630 2,300,000 2,300,000 No Change From 2015/2016 Budget Administrative 392, , ,000 No Change From 2015/2016 Budget Payroll 640, , ,500 No Change From 2015/2016 Budget Professional Fees 70,251 65,000 75,000 $10,000 Increase From 2015/2016 Budget Sweeping and Cleaning 366, , ,000 No Change From 2015/2016 Budget Utilities 803, , ,000 No Change From 2015/2016 Budget Insurance 57,477 65,000 65,000 No Change From 2015/2016 Budget Landscaping And Irrigation 242, , ,900 No Change From 2015/2016 Budget Contracted Services 166, , ,000 $31,340 Increase From 2015/2016 Budget Repairs & Maintenance 153, , ,000 No Change From 2015/2016 Budget Security 1,989,898 1,650,000 2,100,000 $450,000 Increase From 2015/2016 Budget Marketing 411, , ,000 No Change From 2015/2016 Budget Management Fee 200, , ,000 No Change From 2015/2016 Budget Plaza CDD Property Plaza Entertainment 287, , ,000 $114,070 Increase From 2015/2016 Budget Signage 12,562 27,530 27,530 No Change From 2015/2016 Budget TOTAL MAINTENANCE EXPENDITURES $ 8,012,997 $ 7,868,520 $ 8,473,930 TOTAL EXPENDITURES $ 8,119,478 $ 7,992,813 $ 8,597,525 EXCESS/ (SHORTFALL) $ 14,911 $ - $ - 8/11/2016 1:34 PM II Page 10

13 DETAILED FINAL DEBT SERVICE FUND BUDGET CITYPLACE COMMUNITY DEVELOPMENT DISTRICT 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 Tax Incremental Revenues 3,589,798 3,589,798 3,944,010 Projected 2017 TIF TIF Was $3,944,010 Developer Contributions 0 37, , P & I Payments Less Earned Interest & TIF Total Revenues $ 3,590,418 $ 3,628,125 $ 4,204,625 EXPENDITURES Principal Payments 1,765,000 1,925,000 2,615,000 Principal Payment Due In 2017 Interest Payments 1,839,500 1,703,125 1,589,625 Interest Payments Due In 2017 Total Expenditures $ 3,604,500 $ 3,628,125 $ 4,204,625 Excess/ (Shortfall) $ (14,082) $ - $ - Series 2012 Bond Refunding Information Original Par Amount = $39,890,000 Annual Principal Payments Due = May 1st Interest Rate = 5.00% Annual Interest Payments Due = May 1st & November 1st Issue Date = April 2012 Maturity Date = May /11/2016 1:34 PM III Page 11

14 RESOLUTION NO A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE CITYPLACE 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 CityPlace 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 CITYPLACE COMMUNITY DEVELOPMENT DISTRICT, PALM BEACH 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 26 th day of August, ATTEST: CITYPLACE COMMUNITY DEVELOPMENT DISTRICT By: Secretary/Assistant Secretary By: Chairperson/Vice Chairperson Page 12

15 CITYPLACE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2016/2017 REGULAR MEETING SCHEDULE NOTICE IS HEREBY GIVEN that the Board of Supervisors of the City Place Community Development District will hold Regular Meetings in the Conference Room of The Chamber of Commerce of the Palm Beaches, 401 North Flagler Drive, West Palm Beach, Florida at 8:30 a.m. on the following dates: November 11, 2016 February 10, 2017 May 12, 2017 August 11, 2017 The purpose of the meetings is to conduct any and all business coming 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 (561) and/or toll free at five (5) days prior to the date of the particular meeting. From time to time one or more 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. Meetings 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 (561) 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. CITYPLACE COMMUNITY DEVELOPMENT DISTRICT PUBLISH: THE PALM BEACH POST / /16 Page 13

16 RESOLUTION NO A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE CITYPLACE COMMUNITY DEVELOPMENT DISTRICT, AUTHORIZING THE ESTABLISHMENT OF A DISTRICT CHECKING/OPERATING ACCOUNT, DESIGNATING DISTRICT OFFICIALS AND/OR AUTHORIZED STAFF TO REVIEW, APPROVE AND ISSUE PAYMENT OF EXPENDITURES, SELECTING THE SIGNATORIES THEREOF; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, The CityPlace Community Development District ("District") has established a District checking/operating account in order for the District to expend public funds of the District as authorized and required; and WHEREAS, the Board of Supervisors (the Board ) of the District shall designate authorized staff and/or District officials to approve expenditures, via electronic or non-electronic approval processes, from the checking/operating account; WHEREAS, the Board of the District has selected Todd Wodraska, Jason Pierman, Patricia LasCasas, Peter Pimentel, Richard Ellington and to serve as the signatories, as required, on the District checking/operating account; and WHEREAS, all resolutions or parts thereof of the District in conflict with the provisions contained herein are to the extent of any such conflict, hereby superseded and repealed. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE CITYPLACE COMMUNITY DEVELOPMENT DISTRICT, AS FOLLOWS: Section 1. Section 2. The above recitals are hereby adopted. Each expenditure from the checking/operating account will require a minimum of two (2) approvals and a designated member of the Board, by an electronic approval procedure, will have an opportunity to review the District s expenditure(s) prior to release of payment(s). Section 3. When necessary to write checks, the signatures of two (2) of the six (6) signatories named herein will be required on all District checks tendered from the District checking/operating account, as approved. PASSED, ADOPTED and becomes EFFECTIVE this 26 th day of August, ATTEST: CITYPLACE COMMUNITY DEVELOPMENT DISTRICT By: Secretary/Assistant Secretary By: Chairperson/Vice Chairperson Page 14

17 PUBLIC ENTITY GENERAL LIABILITY DECLARATIONS COVERED PARTY: City Place Community Development District AGREEMENT NO: SCHEDULE OF COVERAGES AND LIMITS OF COVERAGE Coverage is only provided for the coverages indicated by a check mark ( ). Deductibles Bodily Injury, Property Damage None Employees Benefits Liability None Coverage Bodily Injury and Property Damage $1,000,000 Per Occurrence Personal Injury and Advertising Injury Included Per Person or Organization Products / Completed Operation Included Medical Payments $5,000 Employees Benefits Liability $1,000,000 Per Occurrence Fire Damage Limit Included Any One Premise No Fault Sewer Backup $25,000 Per Claimant $250,000 Aggregate Limit Pesticide/Herbicide Limit $1,000,000 Per Occurrence and Aggregate Limit FORMS APPLICABLE TO ALL COVERAGE PARTS: See Schedule of forms and Endorsements FIA 002 FIA 010 (10 14) Page 1 of 29 Page 15

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