Towne Park Community Development District
12051	orporate Boulevard , Orlando, FL 32 17; 407-382-3256

Th	ollowing i	the  pr  p  sed  ag  nda ·fi r the Board	f	upcrvisor ' M eting f r lh 1owne  Park	ommun i l y Development Distric t scheduled t b held T hur da y, June 14, 2018  at  11:00  a.m.  af  the  Offic   ·    f Hi   bland  Home  ,  3020    . Flor ida	venu ,	uit e 101 ,  L akeland ,  Florida   3380  .  As  alway	the  per  onal  attendance  of  three  Bo  r l M m		rs wi ll b required t constitut a qu orum.

If y  u would Iii e  to attend  the	ard Meeti ng by phon	you may d	o by diali ng:
Phan :	1-877 -864- 450
Particip nt	de:	45494

DBOARDOF 

     uorwn
Publ ic	omm  nt Peri  d [for any mernber   of the public de. iring to	eak on any propo ition before the Board]
l.	onsid  ration of M inu te  of th   Ma   10 , 2018 Board of	up  rv isor  M	tin g·

on id ration of Final upp le men tal As ess ment M e thod ology
Con  ider a tion of R	olution   201 -J 1	upp lc ment al A	ment R solution
for  A   e •men t	re, 2B Bonds
4.	on  id eration  of  Re olution  2018-12,	upplcmental	· e. sm nt Re olution
for	e   ment Area 3	Bond
S.   Con'  iderati  on  of  A  rcement  between  the  Di ·t .-ict   and  Re'  Or t Poo l	rviee for Pool Maiotcnan e
Ratification of Agreement betw en the Di ·trict and Fau lkn r Engineer in
r  ic    , In . for	on  trnction Mat  rial  T  ·tin	rvices
on   ideration  of  Fiscal  Y ar 2016-2017	udited	i nancial tat ment
C n. id ration of Fund ing Agrecm nt #2
on ·idc rat ion of Pay ment	uthori z ation	os 76 - 77
Consid  t·ation	f Monthl Financia l

Di tr ict Engin er i tric t Manag r
up  rvi  or Reque t  and Audienc e	omm nt Adjournment

Towne Park Community Development District

Minutes

MINUTES OF MEETING

TOWNE PARK COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS' MEETING
Thursday, Thursday May 10, 2018 at 11:12 a.m. The Offices of Highland Homes
3020 S. Florida Avenue, Suite 101
Lakeland, Florida 33803

Board Members present at roll call:

Joel Adams Jeff Shenefield Brian Walsh Rennie Heath Scott Shapiro

Also Present:

Board Member Board Member Board Member Board Member Board Member

(via phone) (via phone)

Roy Van Wyk Jane Gaarlandt Jennifer Glasgow Milton Andrade

Hopping Green & Sams, P.A. Fishkind & Associates, Inc.
Fishkind & Associates, Inc.	(via phone) Highland Homes

FIRST ORDER OF BUSINESS	Call to Order and Roll Call

The meeting was called to order. The Board Members and staff in attendance are as outlined above.

SECOND ORDER OF BUSINESS	Public Comment Period

There were no public comments at this time.

THIRD ORDER OF BUSINESS		Consideration of the Minutes of the April 12, 2018 Board of Supervisors' Meeting

The Board reviewed the minutes of the April 12, 2018 Board of Supervisors' Meeting.

ON MOTION by Mr. Walsh, seconded by Mr. Adams, with all in favor, the Board approved the Minutes of the April 12, 2018 Board of Supervisors' Meeting.

FORTH ORDER OF BUSINESS	Consideration of Resolution 2018-
10, Approving a Proposed Budget for Fiscal Year 2018-2019 and Setting a Public Hearing Date Thereon

Ms. Gaarlandt explained that Ms. Glasgow incorporated changes to the budget that Mr. Adams had suggested. Mr. Heath and Mr. Shapiro joined the meeting via phone. The Board discussed various line items including landscape. Mr. Shapiro suggested increasing the landscaping line item to $100,000.00. The District will have Phase 3A come online the last three months of Fiscal Year 2019 and District will also be putting in a well. The Board discussed streetlights and Mr. Adams indicated that it is a onetime fee and then the City handles the streetlights and it is paid by the homeowners through their City tax so there is no O&M cost for streetlights. He will have Mr. Andrade send the agreements for Phase 2A to Mr. Heath. The Board discussed the budget and assessments. Landscaping and maintenance was increased to $125,000.00 and the Contingency line item was increased to
$20,000.00 bringing the overall budget to $284,250.00. The first 148 lots will be assessed
$600/per lot and the Developer contribution will be approximately $195,000.00. The Board discussed a date for the public hearing and Ms. Gaarlandt suggested July 12, 2018 which is the date of the regularly scheduled meeting, but the time will be changed to 1:00 p.m. for the public hearing.

ON MOTION by Mr. Adams, seconded by Mr. Walsh, with all in favor, the Board approved Resolution 2018-10, Approving a Proposed Budget for Fiscal Year 2018-2019 and Setting July 12, 2018 at 1:00 p.m. at the current location as the Public Hearing Date.

FIFTH ORDER OF BUSINESS		Consideration of Hamilton Proposal for Civil Engineering and Surveying Services, Towne Park Estates Phase 2B Construction Services

The Board reviewed the proposal from Hamilton Engineering for civil engineering and surveying services.

ON MOTION by Mr. Adams, seconded by Mr. Walsh, with all in favor, the Board approved the Hamilton Proposal for Civil Engineering and Surveying Services.

SIXTH ORDER OF BUSINESS		Consideration Agreement #1

of	Funding

The Board reviewed the funding request.

ON MOTION by Mr. Adams, seconded by Mr. Walsh, with all in favor, the Board approved Funding Request #1.

SEVENTH ORDER OF BUSINESS	Consideration	of	Payment
Authorization Nos. 74 - 75

Ms. Gaarlandt requested Board approval of Payment Authorization Nos. 74	75.

ON MOTION by Mr. Adams, seconded by Mr. Walsh, with all in favor, the Board approved Payment Authorization Nos. 74 - 75.

EIGHTH ORDER OF BUSINESS	Review of Monthly Financials

The Board reviewed the monthly financials. There was no action required by the Board.

NINTH ORDER OF BUSINESS	Staff Reports

District Counsel - Mr. Van Wyk stated that he plans on marketing the bonds next week and looking at the beginning of June for a preclosing date on the bonds. He noted that the District will need a special meeting prior to the preclosing so the District can do the supplemental assessments. June 14, 2018 is the regularly scheduled meeting but two of the Board members indicated that they will be out of town. Mr. Van Wyk suggested that the Board keep the regularly scheduled meeting

for now and if the Chair finds out if the District can meet earlier then the meeting will be changed. A Board Member asked what the preclosing target date is and Mr. Van Wyk responded that is the beginning of June and he will know next week. Ms. Gaarlandt explained that the District needs at least 10 days for noticing purposes and Mr. Van Wyk will try to get the preclosing before June 7, 2018. Mr. Van Wyk asked Ms. Gaarlandt to look at a possible meeting date for the week of June 7, 2018.

District Engineer -	No Repmi

District Manager -	Ms. Gaarlandt stated that as of April 15, 2018 per the Supervisor of Elections there were no registered voters in Towne Park CDD.

TENTH ORDER OF BUSINESS	Supervisor Requests and Audience
Comments

There were no audience comments or Supervisor requests.

ELEVENTH ORDER OF BUSINESS	Adjournment

There were no other questions or comments. Ms. Gaarlandt requested a motion to adjourn.

ON MOTION by Mr. Adams, seconded by Mr. Walsh, with all in favor, the Board Adjourned the May 10, 2018 Board of Supervisor's Meeting for the Towne Park Community Development District.

Secretary / Assistant Secretary	Chaiiman / Vice Chairman

Towne Park Community Development District

Final Supplemental Assessment Methodology

FlSHKIND
& ASSOCIATES

SUPPLEMENTAL ASSESSMENT METHODOLOGY	(PHASES 2B & 3A)

TOWNE PARK COMMUNITY DEVELOPMENT DISTRICT

June 1, 2018

Prepared for:

Members of the Board of Supervisors,
Towne Park Community Development District

Prepared by:

Fishkind & Associates, Inc. 12051 Corporate Boulevard
Orlando, Florida 32817

SUPPLEMENTAL ASSESSMENT METHODOLOGY (PHASES 2B & 3A) TOWNE PARK COMMUNITY DEVELOPMENT DISTRICT

June 1, 2018

Introduction

Purpose

This Supplemental Assessment Methodology (Phases 2B & 3A), dated June 1, 2018 ("Supplemental Methodology") provides a system for the allocation of non-ad valorem special assessments securing the repayment of bond debt planned to be issued by the Towne Park Community Development District ("District") to fund beneficial public infrastructure improvements and facilities. This Supplemental Methodology operates pursuant to the District's "Amended and Restated Master Assessment Methodology", dated March 8, 2018 ("Amended Methodology") which replaced the District's "Adopted Master Assessment Methodology" dated January 21, 2015 ("Methodology"). The Supplemental Methodology applied herein has two goals: (1) identifying the special benefits received by properties within the District as a result of the installation of the District's improvements and facilities, and (2) reasonably allocating the costs incurred by the District to provide these benefits to properties in the District. The District has implemented a capital improvement program ("CIP") that will allow for the development of property within the District. The District plans to fund the majority of its CIP through bond debt financing. This bond debt will be repaid from the proceeds of non-ad valorem special assessments levied by the District's Board of Supervisors. These special assessments will serve as liens against properties within the boundary of the District that receive a special benefit from the CIP. This Supplemental Methodology is designed to conform to the requirements of Chapters 170, 190, and 197 of the Florida Statutes with respect to special assessments and is consistent with our understanding of the case law on this subject.

Background

The District includes approximately 584.8 gross acres of property located within the City of Lakeland, Florida. The District is generally located to the south of West Pipkin Road, to the west of Yates Road, and to the north of Ewell Road within the City of Lakeland. At build-out, the District is expected to contain 1,638 single-family lots, 450 multi-family units, recreation areas, parks/conservation, and related infrastructure.

The District previously issued its Series 2016 Special Assessment Revenue Bonds to fund infrastructure specially benefiting Phase 2A within the District's "Assessment Area 1". The District now desires to issue the Special Assessment Revenue Bonds, Series 2018 ("Series 2018 Bonds") to fund the infrastructure specially benefiting the properties within Phase 28 (described in Exhibit "A") and Phase 3A (described in Exhibit "B") and collectively referred to herein as "Phases 28 and 3A". The land use plan for Phases 28 and 3A within the District is found in Table 1 (all tables are found in the attached Appendix).
Special Benefits and General Benefits

Improvements undertaken by the District create both special benefits and general benefits to property owners located within and surrounding the District. However, the general benefits to the public at large are incidental in nature and are readily distinguishable from the special benefits which accrue to property located within the District. It is the District's CIP that enables properties within the District's boundaries to be developed. Without the District's CIP there would be no infrastructure to support development of land within the District. Without these improvements development of property in the District would be prohibited by law.

There is no doubt that the general public and property owners outside the District will benefit from the provision of District infrastructure. However, these are incidental to the District's CIP, which is designed solely to meet the needs of property owners within the District. Properties outside the District do not depend upon the District's CIP to obtain, or to maintain, their development entitlements. This fact alone clearly distinguishes the special benefits which District properties receive compared to those properties lying outside of the District's boundaries.

Requirements of a Valid Assessment Methodology

For special assessments to be valid under Florida law, there are two requirements. First, the properties assessed must receive a special benefit from the improvements paid for via the assessments. Second, the assessments must be fairly and reasonably allocated to the properties being assessed.

If these two characteristics of valid special assessments are adhered to, Florida law provides some latitude to legislative bodies, such as the District's Board of Supervisors, in approving special assessments. Indeed, Florida courts have found that the mathematical perfection of calculating special benefit is likely impossible. Only if the District's Board was to act in an arbitrary, capricious, or grossly unfair fashion would its assessment methods be overturned.

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CIP Plan of Finance

Phased Infrastructure Installation

The District is installing its public infrastructure and improvements on a phased basis, as outlined in more detail in the "Towne Park Community Development District Second Supplemental Engineer's Report Phase 2B & 3A (Assessment Area 2)", dated February 2018 ("Engineer's Report"), as prepared by Hamilton Engineering & Surveying, Inc. ("District Engineer"). As outlined in the Engineer's Report, the District plans to install the infrastructure necessary to serve the lands within both Phases 2B and 3A. The District infrastructure and improvements for Phases 2B are designed to serve and specially benefit the lands within Phase 2B ("Phase 2B Project"). Similarly, the District infrastructure and improvements for Phase 3A are designed to serve and specially benefit the lands within Phase 3A ("Phase 3A Project" and together with the Phase 2B Project, the "Series 2018 Project"). The estimated costs of the Series 2018 Project are presented in Table 2.

Bond Requirements

The District intends to finance the majority of its CIP by issuing bonds. These bonds are being issued in several series, as development progresses within the District. The District's Series 2018 Bonds will fully or partially fund the costs of the Series 2018 Project. The series of bonds planned to be issued to fund the Phase 2B Project will be referred to herein as the "Phase 2B Bonds" and supported by assessments imposed solely to properties located within Phase 2B ("Assessment Area 2B"). Similarly, the portion of the Series 2018 Bonds issued to fund the Phase 3A Project will be referred to herein as the "Phase 3A Bonds" and supported by assessments imposed solely to properties located within Phase 3A ("Assessment Area 3A").

The details of the Series 2018 Bonds issuance required to fund the Series 2018 Project is found in Table 3. As shown in Table 3, the Series 2018 Bonds include several component funds typical of similar bonds, including funds to pay capitalized interest, establish a debt service reserve, and pay the costs of issuance associated with the Series 2018 Bonds. Table 3 also provides the anticipated amount or Phase 2B Bonds and Phase 3A Bonds to be issued by the District, based upon the costs required to implement the Phase 2B Project and Phase 3A Project, respectively.

3

Assessment Methodology

Assessment Foundation

The assessment methodology associated with the allocation of the costs of the CIP is a four­ step process. First, the District Engineer determines the costs for the District's infrastructure and related improvements. Second, an estimate of the amount of bonds required to finance the infrastructure improvements is calculated. Third, the District Engineer outlines which parcels benefit from the provision of each phase of infrastructure and improvements. Finally, the as-financed costs of the infrastructure and related improvements are allocated to the benefiting properties based on the approximate relative benefit each unit receives as expressed by that unit's equivalent residential unit ("ERU") value.

In allocating special assessments to benefiting property, Florida governments have used a variety of methods including, but not limited to, front footage, area, trip rates, equivalent residential units, dwelling units, and acreage. Fishkind has determined that an assessment methodology based on equivalent residential unit ("ERU") values is appropriate. These ERU values equate the benefit received by a stated amount of such particular land use category to the benefit received by a typical single-family residence. The use of ERU values to estimate the benefit derived from infrastructure improvements is recognized as a simple, fair, and reasonable method for apportioning benefit. ERU values are a commonly accepted method for calculating special benefit assessments in Florida. Here, Fishkind has chosen to assign an ERU value of 1.0 to each single-family lot.

Allocation of Specific Assessments

The CIP cost estimates are outlined in Table 2 and described in detail in the Engineer's Report. The details of the Series 2018 Bonds issuance required to fund the Series 2018 Project are shown in Table 3. The principal and related assessments to secure the Phase 2B Bonds will be equally allocated among the lots planned for Phase 2B. Similarly, the principal and related assessments to secure the Phase 3A Bonds will be equally allocated among the lots planned for Phase 3A. The resulting bonds principal and related annual debt service assessments assigned to each lot within Phase 2B and Phase 3A, respectively, are shown in the corresponding Tables 4 and 5. Tables 4 and 5 become important as the land within a phase is platted, as specific bond debt service assessments will be assigned to the individual Development Units (as that term is defined below) within the relevant phases at this time.

4

Assignment of Specific Assessments

The assessments for each phase will initially be assigned to the lands in each phase on an equal per acre basis. The assessments for each phase will be equally divided among the lots within that phase, as property is initial[yplatted. The final assignment of bond debt to a specific lot does not take place until the land containing that lot is platted (a platted single­ family lot will be referred to herein as a "Development Unit"). The specific bond debt assessment that is assigned to platted Development Units will be detailed in a future supplemental assessment report, in accordance with the principles and allocations set forth in this Methodology.

True-Up Mechanism - Master Infrastructure

In order to assure that the District's debt will not build up on the unplatted land within Phases 2B and 3A, respectively, the District shall conduct the following true-up test at the time of the approval of each plat within Phases 2B and 3A. The test is that the debt per acre remaining on the unplatted land within each phase is never allowed to increase above the initial maximum debt per acre level. Initially, the maximum level of debt per acre is calculated as the par amount of the bonds required to finance each phase's ClP divided by the number of developable acres within that respective phase. For example, suppose Assessment Area 2B contained 10 developable acres and the District issued $1,000,000 in bonds to fund the Phase 2B Project. In this example, every time Phase 2B property is platted, the debt on the remaining land within Assessment Area 2B after the plat must remain at or below $100,000 per developable acre. If not, the District would require a density reduction payment so that the $100,000 per acre level is not breached. If all of Phase 2B is included within a single plat, all $1,000,000 of Phase 2B Bonds must be fully allocated to platted lots by that plat.

In the event that additional land not currently subject to the assessments required to repay the debt associated with the Series 2018 Project is developed in such a manner as to receive special benefit from the Series 2018 Project, it is contemplated that this Methodology will be re-applied to include such new parcels. The additional land, as a result of applying this Methodology, will be allocated an appropriate share of the special assessments, while all then-assessed parcels will receive a relative adjustment in their assessment levels.

5

4.0	Contribution of District Infrastructure and/or Improvements

The costs of the District's CIP will likely be funded by two mechanisms. The first mechanism is the issuance of special assessment bonds. The second mechanism is the contribution of funds or CIP components to the District ("Contribution"). Property owners within the District will have the opportunity to make such a Contribution upon approval by the District.

A District property owner's Contribution will give rise to assessment credits that can be applied by the property owner to reduce or eliminate bond debt service assessments that would otherwise be assigned to lands within the District to fund the costs of the CIP. Prior to a property owner reducing or eliminating bond debt service assessments through a Contribution, it must be shown that the improvements funded or contributed by the property owner are a component of the CIP, as outlined in the Engineer's Report. The property owner will be permitted to apply assessment credits equal to the value of the Contribution plus the costs of financing the improvement(s) that would otherwise have been incurred by the District if the District were required to issue bonds to fund or acquire the improvement(s) (such that the property would not be responsible for bond financing costs if the Contribution was made prior to the District's issuance of special assessment bonds). A property owner possessing assessment credits due to a Contribution will, in the District's discretion, have the opportunity to use the assessment credits to adjust bond debt service assessment levels of Development Units.

Assessment Roll

As described above, the Phase 2B lands will be allocated Phase 2B Bonds principal and related annual debt service assessments ("Phase 2B Assessments"), and the Phase 3A lands will be allocated Phase 3A Bonds principal and related annual debt service assessments ("Phase 3A Assessments" and together with the Phase 2B Assessments, the "Series 2018 Assessments") at the time of issuance of the bonds. The table below outlines the initial Series 2018 Bonds principal assessment for the lands within Phases 2B and 3A. As land within Phases 2B and 3A are platted, the Series 2018 Assessments will be refined as outlined herein. The legal descriptions of the land included within Assessment Area 2B and Assessment Area 3A are found in Exhibit "A" and Exhibit "B," herein.

6

	Assessment Roll		
			
Series 2018	Bond Princigal	
 		Series 2018	 Bonds Gross	
Series 2018 Bonds Gross Annual		
			Bonds Princigal	Assessment [!er	Annual	Assessment ger		
	Descrigtion	Acreage	Assessment	Acre	Assessment (1)	Acre(1)		
	Phase 2B - Exhibit A	82.91	$3,365,000	$40,586.18	$246,667	$2,975.11		
	Phase 3A - Exhibit B	129.76	$10,470,000	$80,687.42	$762,688	$5,877.68		
	Totals, Phases 28 & 3A	212.67	$13,849,261	$65,053.84	$1,009,355	$4,746.11		
Values include a 7.0% gross-up to account for the fees of the County Property Appraiser and Tax Collector and the statutory early payment discount.

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EXHIBIT "A" ASSESSMENTAREA2B
EXHIBIT 2: LEGAL DESCRIPTION OF PHASE 213

BEING A PARCEL OF LAND l YING WITHIN SECTION 8, TOWNSHIP 29 SOUTH, RANGE 23 EAST, POLK COUNTY, FLORIDA, BEING MORE PARCTICULARLY DESCRIBED AS FOLLOWS:

FOR A POINT OF REFERENCE COMMENCE AT THE SOUTHEAST CORNER OF SAID SECTlON 8 AND PROCEEDS 89"51'10" W, ALONG THE SOUTH BOUNDARY THEREOF, A DISTANCE OF 1027.56 FEET TO THE emtiL0-1: BEGINNING; SAID POINT ALSO BEING THE SOUTHWEST CORNER OF LOT 26 (BLOCK 4} OF TOWNE PARK ESTATES PHASE 2A PER PLAT BOOK 	. PAGE_ OF THE PUBLIC RECORDS OF POLK COUNTY, FLORIDA; THENCE S
89"51'10" W, CONTINUING ALONG SAID SOUTH BOUNDARY, A DISTANCE OF 1627.60 FEET TO THE SOUTHEAST CORNER OF THE SOUTHWEST 1/4 OF SAID SECTION 8; THENCE S 89"51'04" W, ALONG THE SOUTH 6QUNOARY THEREOF, A DISTANCE OF 321.04 FEET; THENCE N 36.19'40B E, LEAVING SAID SOUTH BOUNDARY, A DISTANCE OF 2787.77 FEETTO THE MOST SOUTHWESTERLY CORNER OF LOT 20 (BLOCK 1} OF SAID TOWNE PARK ESTATES PHASE 2A AND THE MOST WESTERLY CORNER THE.REOF; SAID POINT ALSO BEING THE BEGINNING OF A NON­ TANGENTIAL CURVATURE OF A CURVE CONCAVE NORTHERLY, HAVING A RADIUS OF 435.00 FEET AND A CHORD WHICH BEARS S 89"57'18" E, A DISTANCE OF 3.78 FEET; THENCE ALONG THE ARC OF SAID CURVE TO THE LEFT, AND ALONG THE BOUNDARY OF SAID TOWNE PARK PHASE 2A, A DISTANCE OF 3.78 FEETTO A POINT OF TANGENCY; THENCE N 89'47'45" E, CONTINUING ALONG THE BOUNDARY OF SAID TOWNE PARK ESTATES PHASE 2A, A DISTANCE OF 83.50 FEET TO A POINT OF CURVATURE OFA CURVE CONCAVE SOUTHWESTERLY, HAVING A RADIUS OF 705.00 FEET AND A CHORD WHICH BEARS S 70•18'39" E, A DISTANCE OF 479.78 FEET; THENCE ALONG THE ARC: OF SAlD CURVE TO THE RIGHT., A DISTANCE OF 489.55 FEET TO A POINT OF. TANGENCY; THENCE S 50"25'04" E, A DISTANCE OF 296.39 FEET TO THE POINT OF CURVATURE; OF A CURVE CONCAVE WESTERLY, HAVING A RADIUS OF 595.00 FEET AND A CHORD WHICH BEARS S 11°53'28" E, A DISTANCE OF 741.22 FEET; THENCE ALONG THE ARC OF SAID CURVE TO THE RIGHT, A DISTANCE OF 800.17 FEET TO A POINT Of TANGENCY; THENCE S 26"38'07" W, A DISTANCE OF 21.84 FEET; THENCE S 30•59•55" E, A DISTANCE OF 328.67 FEET; THENCE S 22"21'38" W, A DISTANCE OF 634.33 FEET TO THE NORTH RIGHT-OF WAY OF NORTH EGRET lANE DEDICATED PER SAID TOWNE PARK ESTATES PHASE 2A; THENCE N 83"22'26" W, Al.ONG SAID RIGHT-OF WAY, A C>ISTANCE OF 81.27 FEETTO A POINT OF CURVATURE OF A CURVE CONCAVE NORTHEASTERLY, HAVING A RADIUS OF 25.00 FEET ANO A CHORD WHICH BEARS N 30"30':2.4" W, A DISTANCE OF 39.86 FEET; THENCE ALONG THE ARC OF SAID CURVE TO THE RIGHT, A DISTANCE OF 46.14 FEET TO A POINT OF TANGENCY; THENCE N 22"21'38" E, A DISTANCE OF 15.SS FEET; THENCE N 67°38'22" W, A DISTANCE OF 50.00 FEET TO THE NORTHWESTERLY RIGHT­ OF·WAY OF WHITE IBIS ROAD DEDICATED PER SAID TOWNE PARK PHASE 2A; THENCE S 22"21'38" W, A DISTANCE OF 31.49 FEETTO A POINT OF CURVATURE OF A CURVE CONCAVE NORTHWESTERLY, HAVING A RADIUS OF 80.00 FEET AND A CHORD WHICH BEARS S 43'39'41n W, A DISTANCE OF 58.l:Z FEET; THENCE ALONG THE ARC OF SAID CURVE TO THE RIGHT, A DISTANCE OF 59.48 FEET TO A POINT OF TANGENCY; THENCE S 64°57'43" W, A DISTANCE OF 60.23 FEET TO THE SOUTHEAST CORNER OF TRACT D PER SAID TOWNE PARK PHASE 2A; THENCE N 2s·o2•17" W, A DISTANCE OF 110.00 FEET; THENCE N 49"00'48" E, A DISTANCE OF 73,23 FEET; THENCE N 22"21'38'' E, A DISTANCE OF 150,00 FEET; THENCE N 67"38'2:Z" W, A DISTANCE OF 71.68 FEET THE MOST NORTHERLY CORNER OF SAID TRACT D; SAID POINT ALSO BEING THE BEGINNING OF A NON· TANGENTIAL CURVATURE Or A CURVE CONCAVE NORTHERLYWESTERLY, HAVING A RADIUS OF 98-0.00 FEET AND
A CHORD WHICH BEARS S 45"58'59" W, A DISTANCE OF 183.04 FEET; THENCE ALONG THE ARC OF SAID CURVE TO THE RIGHT, A DISTANCE OF 183.30 FEETTO A POINT OF REVERSE CURVATURE OFA CURVE CONCAVE
SOUTHEASTERLY, HAVING A RADIUS OF 430.00 FEET AND A CHORD WHICH BEARS S 25"35'50" W, A DISTANCE OF 373.55 FEET; THENCE ALONG THE ARC OF SAID CURVE TO Tl-IE LEFT, A DISTANCE OF 386.42 FEET; THENCE S 00"08'50" E, A DISTANCE OF 107.61FEET TO THE POINT OF BEGINNING,

THE ABOVE PARCEL CONTAINING 82.91ACRES, MORE OR LESS.

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EXHIBIT "B" ASSESSMENTAREA3A
PHASE 3A

A PORTION OF LAND LYING WITHIN SECTIONS 8 AND 17, TOWNSHIP 29 SOUTH, RANGE 23 EAST, CITY OF LAKELAND, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED IN lWO PARCELS AS FOUOWS:

PARCEL A {TOWNE PARK ESTATES SOUTH):

FOR A PJlliiL_QEJltGJt:Hilllii COMMENCE AT THE NORTHEAST CORNER OF THE NORTHEAST 1/4 OF SAID SECTION 17 AND PROCEEDS 00' 21' 42" E, ALONG THE EAST BOUNDARY THEREOF, A DISTANCE OF 2704.03 FEET TO THE SOUTHEAST CORNER OF THE NORTHEAST 1/4 OF SAID SECTION 17; THENCE S 89' 48' 31" W,
ALONG THE SOUTH BOUNDARY THEREOF, A DISTANCE OF 2317.57 FEET; THENCE S oo• 21' 37" E, LEAVING SAID SOUTH BOUNDARY, A DISTANCE OF 299.85 FEET; THENCE N 89' 56' 16" w, A DISTANCE OF 30.21 FEET; THENCE S oo· 26' 57" E, A
DISTANCE OF 29.97 FEET; THENCE S 89' 43' 22" W, A DISTANCE OF 307.22 FEET TO A POINT ON THE EAST BOUNDARY OF THE SOUTHWEST 1/4 OF SAID SECTION 17; THENCE S oo· 19' 37" E, ALONG SAID EAST BOUNDARY, A DISTANCE OF 364.84 FEET; THENCE N 71' 34' 19" W, LEAVING SAID EAST BOUNDARY, A DISTANCE OF 52.80 FEET; THENCE N 53° 08' 34" W, A DISTANCE OF 92.43 FEET; THENCE N 49" 11' 53" W,
A DISTANCE OF 67.17 FEET; THENCE N 70" 58' 52'' W, A DISTANCE OF 70.89 FEET;
THENCE N 90' 00' 00" W, A DISTANCE OF 78.58 FEET; THENCE N 75• 58' 12" W, A
DISTANCE OF 38.12 FEET; THENCE N 45" 00' 49" W, A DISTANCE OF 107.83 FEET;
THENCE N 43' 02' 12" W, A DISTANCE OF 94.82 FEET; THENCE N 36" 38' SO" W, A
DISTANCE OF 112.29 FEET; THENCE N 51' 10' 54" W, A DISTANCE OF 121.62 FEET;
THENCE N 32' 54' 53" W, A DISTANCE OF 93.56 FEET; THENCE N 54• 52' 43" W, A
DISTANCE OF 76.29 FEET; THENCE N 66" 12' 14" W, A DISTANCE OF 85.88 FEET; THENCE N 55• 11' 15" W, A DISTANCE OF 64.74 FEET; THENCE N 35• 46' 0011 W, A DISTANCE OF 71.18 FEET; THENCE N 57' 06' 19" W, A DISTANCE OF 41.73 FEET; THENCE N 03' 24' 26" W, A DISTANCE OF 107,02 FEET TO THE BEGINNING OF A NON• TANGENTIAL CURVE CONCAVE SOUTHERLY, HAVING A RADIUS OF 1500.00 FEET AND A CHORD WHICH BEARS N 87" 23' 22" E, A DISTANCE OF 69.71FEET; THENCE ALONG THE ARC OF SAID CURVE TO THE RIGHT, A DISTANCE OF 69.71 FEET TO A POINT OF TANGENCY; THENCE N 88' 43' 1S'' E, A DISTANCE OF 416.21 FEET TO A POINT OF CURVATURE OF A CURVE CONCAVE NORTHWESTERLY, HAVING A RADIUS OF 1090.00 FEET AND A CHORD WHICH BEARS N 57" 37' 21" E, A DISTANCE OF 1125.99 FEET; THENCE ALONG THE ARC OF SAID CURVE TO THE LEFT, A DISTANCE OF 1183.24 FEET TO A POINT OF TANGENCY; THENCE N 26' 31' 27" E, A DISTANCE OF 567.60 FEET TO A POINT OF CURVATURE OF A CURVE CONCAVE SOUTHEASTERLY, HAVING A RADIUS
OF 2000.00 FEET AND A CHORD WHICH BEARS N 33' 48' 01" E, A DISTANCE OF
506.60 FEET; THENCE ALONG THE ARC OF SAID CURVE TO THE RIGHT, A DISTANCE OF 507.97 FEETTO A POINT OF TANGENCY; THENCE N 41' 04' 35" E, A DISTANCE OF
650.38 FEETTO A POINT OF CURVATURE OF A CURVE CONCAVE NORTHWESTERLY, HAVING A RADIUS OF 390.00 FEET AND A CHORD WHICH BEARS N 20' 26' 10" E, A
DISTANCE OF 274.95 FEET; THENCE ALONG THE ARC OF SAID CURVE TO THE LEFT, A DISTANCE OF 280.99 FEET TO A POINT OF TANGENCV; THENCE N oo·12' 15" w, A
DISTANCE OF 271.21 FEET TO A POINTON THE NORTH BOUNDARY OF THE NORrnEAST 1/4 OF SAID SECTION 17; THENCE S 89' 51' 10'' W, ALONG SAID NORTH BOUNDARY, A DISTANCE OF 1127,56 FEET TO THE POINT OF BEGINNING.

THE ABOVE PARCEL CONTAINING 129.76 ACRES, MORE OR LESS

9

APPENDIX ASSESSMENT TABLES

10

APPENDIX TABLE 1 TOWNE PARK CDD
PHASES 2B AND 3A LAND USE PLAN
SUPPLEMENTAL ASSESSMENT METHODOLOGY (PH. 2B & 3A)

Development Phase

Number of Single­
Family Lots

Phase 2B Phase 3A

Total

130
433

563

Suppl. Assmt. Meth. (Ph. 2B 3A)	Fishkind and Associates, Inc.	Appendix Table 1

APPENDIX TABLE 2 TOWNE PARK CDD
PHASES 2B AND 3A CIP COST ESTIMATES
SUPPLEMENTAL ASSESSMENT METHODOLOGY (PH. 2B & 3A)

	Estimated Costs,	Estimated Costs,	Total Estimated Costs,	
Infrastructure Component	Phase 2B	Phase 3A	 	Phases 2B & 3A	
Offsite Improvements & Master Blvd	$0	$3,735,924	$3,735,924	
Stormwater Mngmt	$2,460,000	$6,062,000	$8,522,000	
Utilities (water, sewer & st lighting)	$682,660	$2,035,100	$2,717,760	
Roadway	$653,770	$1,991,800	$2,645,570	
Entry Feature & Signage	$374,500	$470,671	$845,171	
Parks & Amenities	$500,760	$1,199,843	$1,700,603	
Contingency	$350,960	$714,450	$1,065,410	
Totals	$5,022,650	$16,209,788	$21,232,438	

Source: Hamilton Engineering & Surveying, Inc.

Suppl. Assmt. Meth. (Ph. 2B 3A)	Fishkind and Associates, Inc.	Appendix Table 2

APPENDIX TABLE 3 TOWNE PARK COD
SERIES 2018 BONDS DETAILS
SUPPLEMENTAL ASSESSMENT METHODOLOGY (PH. 2B & 3A)

	Total Values, Ph. 2B &	
Series 2018 Bonds Fund	Phase 2B Bonds	Phase 3A Bonds	3A Bonds	
Ph. 2B & 3A Construction Funds	$2,835,547	$9,077,545	$11,913,092	
Debt Service Reserve	$183,520	$567,440	$750,960	
Capitalized Interest	$154,241	$479,956	$634,198	
Costs of Issuance (Including Underwriter's Fee)	$188,700	$335,805	$524,505	
Original Issuer's Discount	$2,992	$9,254	$1V45	
Estimated Bonds Principal	$3,365,000	$10,470,000	$13,835,000	
Average Annual Coupon Rate:	5.44%	5.44%		
Term (Years):	30	30		

Maximum Net Annual Debt Service:	$229,400	
$709,300	
$938,700	
Maximum Gross Annual Debt Service (1):	$246,667	$762,688	$1,009,355	

(1) Includes a 7.0% gross-up to account for the fees of the County Property Appraiser and Tax Collector and the statutory early payment discount.

Suppl. Assmt. Meth. (Ph. 28 3A)	Fishkind and Associates, Inc.	Appendix Table 3

APPENDIX TABLE 4 TOWNE PARK CDD
PHASE 2B SERIES 2018 BONDS ASSESSMENTS
SUPPLEMENT AL ASSESSMENT METHODOLOGY (PH. 2B & 3A)

PHASE 2B

Unit Type

Unit Count	ERUs/Unit (1)

Bond Principal	Bond Principal Total ERUs	Allocation/ Category	Allocation/Unit

Single Family Lots (Phase 2B)

130	1.00	130.00	$3,365,000	$25,885

Unit Type

Single Family Lots (Phase 2B)

Bond Net Annual		Bond Net Annual Assessment/ Category	Assessment/ Unit

$229,400	$1,765

Bond Gross Annual Assessment/Unit (1)

$1,897

(7) Includes a 7.0% gross-up to account for the fees of the County Property Appraiser and Tax Collector and the statutory early payment discount.

Suppl. Assmt. Meth. (Ph. 2B 3A)	Fishkind and Associates, Inc.	Appendix Table 4

APPENDIX TABLE 5 TOWNE PARK CDD
PHASE 3A SERIES 2018 BONDS ASSESSMENTS
SUPPLEMENT AL ASSESSMENT METHODOLOGY (PH. 2B & 3A)

PHASE3A

Unit Type	Unit Count	ERUs/Unit (1)

Bond Principal	Bond Principal Total ERUs	Allocation/ Category	Allocation/Unit

Single Family Lots (Phase 3A)	433	1.00	433.00	$10,470,000	$24,180

Unit Type

Bond Net Annual		Bond Net Annual Assessment/ Category	Assessment/ Unit

Bond Gross Annual Assessment/Unit (1)

Single Family Lots (Phase 3A)	$709,300	$1,638	$1,761

Includes a 7.0% gross-up to account for the fees of the County Property Appraiser and Tax Collector and the statutory early payment discount.

Suppl. Assmt. Meth. (Ph. 28 3A)	Fishkind and Associates, Inc.	Appendix Table 5

Towne Park Community Development District

Resolution 2018-11

RESOLUTION 2018-11

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TOWNE PARK COMMUNITY DEVELOPMENT DISTRICT SETTING FORTH THE SPECIFIC TERMS OF THE DISTRICT'S SPECIAL ASSESSMENT BONDS, SERIES 2018 (ASSESSMENT AREA 2B PROJECT); CONFIRMING THE DISTRICT'S PROVISION OF IMPROVEMENTS; CONFIRMING THE SUPPLEMENTAL ENGINEER'S REPORT AND SUPPLEMENTAL ASSESSMENT REPORT; CONFIRMING, ALLOCATING AND AUTHORIZING THE COLLECTION OF SPECIAL ASSESSMENTS SECURING THE SERIES 2018 BONDS; PROVIDING FOR THE APPLICATION OF TRUE-UP PAYMENTS; PROVIDING FOR THE SUPPLEMENTATION OF THE IMPROVEMENT LIEN BOOK; PROVIDING FOR THE RECORDING OF A NOTICE OF SERIES 2018 SPECIAL ASSESSMENTS (ASSESSMENT AREA 2B PROJECT); PROVIDING FOR CONFLICTS, SEVERABILITY AND AN EFFECTIVE DATE

WHEREAS, the Towne Park Community Development District ("District") has previously indicated its intention to undertake, install, establish, construct or acquire certain public improvements and to finance such public improvements through the imposition of special assessments on benefited property within the District and the issuance of bonds; and

WHEREAS, the District's Board of Supervisors ("Board") has previously adopted, after notice and public hearing, Resolution 2015-17, relating to the imposition, levy, collection and enforcement of such special assessments; and

WHEREAS, pursuant to and consistent with the terms of Resolution 2015-17, this Resolution shall set forth the terms of bonds actually issued by the District, and apply  the adopted special assessment methodology to the actual scope of the project to be completed  with a series of bonds and the terms of the bond issue; and

WHEREAS, on June 1, 2018, the District entered into a Bond Purchase Contract, whereby it agreed to sell $3,365,000 of its Special Assessment Bonds, Series 2018 (Assessment Area 2B Project) (the "Assessment Area 2B Bonds"); and

WHEREAS, pursuant to and consistent with Resolution 2015-17, the District desires to set forth the particular terms of the sale of the Assessment Area 2B Bonds and to confirm the liens of the levy of special assessments securing the Assessment Area 2B Bonds.

NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE TOWNE PARK COMMUNITY DEVELOPMENT DISTRICT AS FOLLOWS:

SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted pursuant to the provisions of Florida law, including Chapters 170, 190 and 197, Florida Statutes, and Resolution 2015-17.

SECTION 2. FINDINGS. The Board of Supervisors of the Towne Park Community Development District hereby finds and determines as follows:

On January 21, 2015, the District, after due notice and public hearing, adopted Resolution 2015-17, which, among other things, equalized, approved, confirmed and levied special assessments on property benefiting from the improvements authorized by the District. That Resolution provides that as each series of bonds is issued to fund all or any portion of the District's improvements, a supplemental resolution will be adopted to set forth the specific terms of each series of the bonds and certifying the amount of the liens of the special assessments securing any portion of the bonds, including interest, costs of issuance, the number of payments due, any True-Up amounts and the application of receipt of any True-Up proceeds.

The Preliminary Engineer's Report, dated November 2014 (the "Master Engineer's Report"), as amended by the First Amendment to the Master Engineer's Report dated November 2014, dated March 2018 (the "First Amended Master Engineer's Report" and, together with the Master Engineer's Report, the "Engineer's Report"), and as supplemented by the Towne Park Community Development District Second Supplemental Engineer's Report, Phase 2B & 3A, dated February 2018, and attached to this Resolution as Exhibit A (the "Supplemental Engineer's Report"), identifies and describes the presently expected components of the infrastructure improvements for the Assessment Area 2B Project to be financed all or  in part with the Assessment Area 2B Bonds (the "Improvements"), and the estimated costs of the Assessment Area 2B Project as $5,022,650. The District hereby confirms that the Assessment Area 2B Project serves a proper, essential and valid public purpose. The Engineer's Report is hereby approved, adopted, and confirmed. The District ratifies its use in connection with the sale of the Assessment Area 2B Bonds.

The Amended and Restated Master Assessment Methodology, dated March 8, 2018 ("Amended and Restated Master Assessment Report"), which amends the Master Assessment Methodology, dated January 21, 2015, as supplemented by that certain Supplemental Assessment Methodology (Phases 2B & 3A), dated June 1, 2018 (the "Supplemental  Assessment  Report" and, together with the Amended and  Restated  Master  Report,  the  "Assessment  Report"), attached to this Resolution as Composite Exhibit B, applies to the Improvements and the actual  terms of the Assessment Area 2B  Bonds.  The Assessment  Report  is  hereby  approved,  adopted and confirmed.  The District  ratifies  its  use  in connection  with the sale of the  Assessment  Area  2B Bonds.

The Assessment Area 2B Project will specially benefit certain property within the District which property is known as Assessment Area 2B, a legal description of which is attached hereto as Exhibit C (the "Assessment Area 2B Lands"). It is reasonable, proper, just and right to assess the portion of the costs of the Assessment Area 2B Project financed with the Assessment Area 2B Bonds to the specially benefited properties within the District as set forth in Resolution 2015-17, and this Resolution.

SECTION  3.	CONFIRMATION OF MAXIMUM ASSESSMENT LIEN FOR
ASSESSMENT AREA 2B BONDS. As provided in Resolution 2015-17, this Resolution is intended to set forth the terms of the Assessment Area 2B Bonds and the final amount  of the liens of the special assessments securing those bonds.

The Assessment Area 2B Bonds, in a par amount of $3,365,000, shall bear such rates of interest and maturity as shown on Exhibit D, attached hereto. The final payment on the Assessment Area 2B Bonds shall be due on November 1, 2049. The estimated sources and uses of funds of the Assessment Area 2B Bonds shall be as set forth in Exhibit E.  The debt service due on the Assessment Area 2B Bonds is set forth on Exhibit F attached hereto.

The lien of the special assessments securing the Assessment Area 2B Bonds  on the Assessment Area 2B Lands (the "Assessment Area 2B Special Assessments"), shall be the principal amount due on the Assessment Area 2B Bonds, together with accrued but unpaid interest thereon, and together with the amount by which annual assessments are grossed up to include early payment discounts required by law and costs of collection. The Assessment Area 2B Bonds are secured solely by the lien against the Assessment Area 2B Lands.

SECTION 4. ALLOCATION OF ASSESSMENTS SECURING THE ASSESSMENT AREA 2B BONDS.

(a) The special assessments for the Assessment Area 2B Bonds shall be allocated in accordance with Composite Exhibit B, which allocation shall initially be on an acreage basis and further allocated as lands are platted. The Supplemental  Assessment Report is consistent with  the Amended and Restated Master Assessment Report. The Supplemental Report, considered herein, reflects the actual terms of the issuance of the District's Assessment Area 2B Bonds. The estimated costs of collection of the special assessments for the Assessment Area 2B Bonds are as set forth in the Supplemental Assessment Report.

(6) The lien of the special assessments securing the Assessment Area 2B Bonds includes all property within the Assessment Area 2B Lands, and as such land is ultimately defined and set forth in any plats, certificates of occupancy or other designations of developable acreage.

(c) Taking into account capitalized interest and earnings on certain funds and accounts as set forth in the Master Trust Indenture and the Second Supplemental Trust Indenture, the District shall begin annual collection of special assessments on May 1, 2019, for the Assessment Area 2B Bonds debt service payments due on November 1, 2019, using the methods available  to it by  law. Debt service payments and semi-annual installments of interest are reflected on Exhibit F. The Assessment Area 2B Bonds include an amount for capitalized interest through May 1, 2019.

An owner of property subject to the Assessment Area 2B Special Assessments may pay in whole or in part the principal balance of such Assessment Area 2B Special Assessments at any time if there is also paid an amount equal to the interest that would otherwise be due on such prepaid amount on the next succeeding interest payment date, or, if prepaid during the forty-five

(45) day period preceding such interest payment date, to the interest payment  date following such next succeeding interest payment date.

An owner of property subject to the levy of Assessment Area 2B Special Assessments may pay the entire balance of the Assessment Area 2B Special Assessments remaining due, without interest, within thirty (30) days after the related Assessment Area 2B Project has been completed or acquired by the District, and the Board has adopted a resolution accepting such Assessment Area 2B Project pursuant to Chapter 170.09, Florida Statutes. This provision is subject to waiver by the owner of property at any time prior to or after the issuance of the Assessment Area 2B Bonds.

The District hereby certifies the special assessments for collection and directs staff to take all actions necessary to meet the time and other deadlines imposed by Polk County and Florida law for collection. The District intends, to the extent possible and subject to entering into the appropriate agreements with the Polk County Tax Collector and Polk County Property Appraiser (or other appropriate Polk County, Florida officials) to collect the Assessment Area 2B Special Assessments on platted lands contained within a plat or certificate of occupancy  using the Uniform Method in Chapter 197, Florida Statutes. The District intends, to the extent possible, to directly bill, collect and enforce the Assessment Area 2B Special Assessments on lands not included within an approved plat or certificate of occupancy unless in any year, the District determines it to be in its best interest to collect such assessments using the Uniform Method in Chapter 197, Florida Statutes. The District Manager shall prepare or cause to be prepared each year an assessment roll for purposes of effecting the collection of the special assessments and present same to the District Board as required by law. The District Manager is further directed and authorized to take all actions necessary to collect special assessments on property using methods available to the District authorized by Florida law in order to provide for the timely payment of debt service.

SECTION 5. APPROVAL OF TRUE-UP PROCESS AND APPLICATION OF TRUE-UP PAYMENTS.

Pursuant to Resolution 2015-17, there may be required from time to time certain True-Up payments. As parcels of land are included in a plat or certificate of occupancy, the special assessments securing the Assessment Area 2B Bonds shall be allocated as set forth in Resolution 2015-17, this Resolution, and the Assessment Report, including, without limitation, the application of the True-Up process set forth in the Assessment Report.

Based on the final par amount of $3,365,000 in Assessment Area 2B Bonds, the True­ Up calculations will be made in accordance with the process set forth in the Assessment Report. The District shall apply all True-Up payments related to the Assessment Area 2B Bonds only to the credit of the Assessment Area 2B Bonds. All True-Up payments, as well as all other prepayments of assessments, shall be deposited into the accounts specified in the Second Supplemental Trust Indenture, dated as of June 1, 2018, governing the Assessment Area 2B Bonds.

SECTION 6. IMPROVEMENT LIEN BOOK. Immediately following the adoption of this Resolution these special assessments as reflected herein shall be recorded by the Secretary of the Board of the District in the District's Improvement Lien Book. The special assessment or assessments against each respective parcel shall be and shall remain a legal, valid and binding first lien on such parcel until paid and such lien shall be coequal with the lien of all state, county, district, municipal or other governmental taxes and superior in dignity to all other liens, titles, and claims.

SECTION  7.  OTHER  PROVISIONS  REMAIN IN EFFECT.	This Resolution is
intended to supplement Resolution 2015-17, which remains in full force and effect. This Resolution and Resolution 2015-17 shall be construed to the maximum extent possible to give full force and effect to the provisions of each resolution. All District resolutions or parts thereof in actual conflict with this Resolution are, to the extent of such conflict, superseded and repealed.

SECTION 8. ASSESSMENT NOTICE. The District's Secretary is hereby directed to record a Notice of Series 2018 Special Assessments securing the Assessment Area 2B Bonds in the Official Records of Polk County, Florida, or such other instrument evidencing the actions taken by the District.

SECTION 9. SEVERABILITY. If any section or pait of a section of this resolution be declared invalid or unconstitutional, the validity, force and effect of any other section or part of a section of this resolution shall not thereby be affected or impaired unless it clearly appears that such other section or part of a section of this resolution is wholly or necessarily dependent upon the section or part of a section so held to be invalid or unconstitutional.

SECTION 10. EFFECTIVE DATE. This Resolution shall become effective upon its adoption.

{Signatures Set Forth on the Following Page}

APPROVED AND ADOPTED this 14th day of June, 2018.

ATTEST:	TOWNE PARK COMMUNITY DEVELOPMENT DISTRICT

Secretary/ Assistant Secretary	Chairperson, Board of Supervisors

Exhibit  A: Comp. Exhibit B:

Exhibit C: Exhibit D: Exhibit E: Exhibit F:

Second Supplemental Engineer's Report, Phase 2B & 3A, dated February 2018
Amended and Restated Master Assessment Methodology, dated March 8, 2018, as supplemented by that certain Supplemental Assessment Methodology, (Phases 2B & 3A), dated June 1, 2018
Legal Description of Assessment Area 2B Lands Maturities and Coupons of Assessment Area 2B Bonds Sources and Uses of Funds for Assessment Area 2B Bonds
Annual Debt Service Payment Due on Assessment Area 2B Bonds

TOWNE PARK COMMUNITY DEVELOPMENT DISTRICT

SECOND SUPPLEMENTAL ENGINEER'S REPORT

PHASE 28 & 3A (Assessment Area 2)

PREPARED FOR: BOARD OF SUPERVISORS
TOWNE PARK

COMMUNITY DEVELOPMENT DIST'RICT

PREPARED BY:

-••

  AMILT

ING

ENGINEER	&    S U R V E Y I  N G .	INC.

11408 W, Lemon St. Tamp , FL 331109 I P hon 1>: Rt:1.250.3635 • Fax: 813,250.3138
Engineering Business No. 8474

FEBRUARY 2018

TOWNE PARK COMMUNITY DEVELOPMENT DISTRICT

TABLE OF CONTENTS

INTRODUCTION	1
PURPOSE AND SCOPE	2
Ill.	PROPOSED IMPROVEMENTS	2
PERMITTING	8
CONCLUSION	10

LIST OF TABLES & EXHIBITS

TABLE 1 - Land Use Summary Within the District

TABLE 2 - Summary of Opinion of Probable Costs

EXHIBIT l - Map of Phase 2B

EXHIBIT 2 - Legal Description of Phase 2B

EXHIBIT 3 - Map of Phase 3A

EXHIBIT 4 - Legal Description of Phase 3B

TOWNE PARK
SECOND SUPPLEMENTAL ENGINEER'S REPORT
PHASE 2B & 3A (Assessment Area 2 and 3)

INTRODUCTION

The Towne Park Community Development District (the "District" or the "CDD") is located south of West Pipkin Road and north of Ewell Road, just east of County Line Road, in the City of Lakeland, Polk County, Florida. The District currently contains approximately 587 acres, and is expected to consist of 1,453 single family and/or multi-family residential units, recreation and amenity areas, parks, and associated infrastructure.

The CDD was established under City of Lakeland Ordinance No. 14-051, which was passed by the City Council on November 3, 2014. The CDD will own and operate the roadways and stormwater management facilities, as well as the landscape, irrigation, signage, and recreational facilities within the Community.

Improvements and facilities finan-ced, acquired, and/or constructed by the CDD will be required to conform to regulatory requirements of the City of Lakeland, Polk County, Southwest Florida Water Management District (SWFWMD), and other agencies with regulatory jurisdiction over the development. An overall estimate of probable cost is provided in Table 2 of this report.

The development plan prepared by the CDD reflects the present intentions of the CDD. It should be noted that the location of proposed facilities and improvements may be adjusted during the final design, permitting, and implementation phases. It should also be noted that these modifications are not expected to diminish the benefits received by the Towne Park Community (the "Community"). The CDD reserves the right to make reasonable adjustments to the development plan to meet applicable regulatory requirements of agencies with jurisdiction over the development, while maintaining comparable levels of benefits to the community served by the improvements. Changes and modifications are expected as changes in regulatory criteria are implemented.

1

Implementation of any proposed facilities or improvements outlined in this report requires written approval from the CDD's Board of Supervisors, Estimated costs outlined in this report were based on best available information, which includes but is not limited to previous experience with similar projects. Actual costs could be different than estimates because final engineering and specific field conditions may affect construction costs.

All roadway improvements, sidewalks, and storm drainage collection systems (from the curb inlets to their connection to the Stormwater ponds) within the Community will be owned and maintained by the COD. Water distribution and wastewater collection systems (gravity lines, force mains, and lift stations) will be dedicated to City of Lakeland for ownership and maintenance.

PURPOSE AND SCOPE

The purpose of this report is to provide engineering support to fund improvements  in Phases 2B and 3A of the Community. Phase 2B is currently approved and permitted for  130 single family residential units and their associated infrastructure, while Phase 3A is currently designed and being permitted for 433 single family residential units and their associated infrastructure.  This report  will identify  the proposed  capital improvements  to be constructed or acquired by the District along with an opinion of probable cost.

This report should be reviewed in conjunction with the Master Engineer's Report.

Ill.	PROPOSED IMPROVEMENTS

The Infrastructure Improvements for Phase 28 include the following:

stormwater Management FaciJifies
Stormwater management facilities consisting of storm conveyance systems and retention ponds are contained within the District boundaries. Stormwater runoff is collected via roadway curb and gutter to storm inlets, which are connected by storm culverts. The storm culverts convey the runoff into the proposed detention ponds for water quality treatment and attenuation. The proposed stormwater systems will utilize wet detention for biological pollutant assimilation to achieve water quality treatment.
2

The design  criteria  for  the  District's  stormwater  management  systems  is  regulated  by the City of Lakeland, Polk County and SWFWMD.

FEMA Community Panel No. 12105C-0460F (dated 12/19/2000) demonstrates that the property is located within Flood Zones A & X.  Floodplain compensation will be  required for any fill placed within Flood Zone A. Additionally, there are existing wetlands  on  site that have been delineated and approved by  the  appropriate  regulatory  agencies  for such purposes.

During the construction of stormwater management facilities, utilities and roadway improvements, the site contractor will be required to adhere to a Stormwater Pollution Prevention Plan (SWPPP) as required by FDEP as delegated by the Environmental Protection Agency (EPA). The SWPPP will be prepared to depict for the contractor the proposed locations of required erosion control consisting of staked turbidity barriers along the down gradient side of any proposed construction activity and  adjacent  to the wetland edges and the perimeters. The site contractor will be required to provide the necessary reporting on various forms associated with erosion control, its maintenance and any rainfall events that occur during construction activity.

Roadways
The proposed public roadway sections  will  be  owned  by  the  District  and  are  to be 50' R/W with 20' of asphalt and Miami curb and gutter on both sides. The proposed roadway section will consist of stabilized subgrade, crushed concrete or cement treated base and asphalt wearing surface. The proposed curb is to be 2' wide and placed along the edge of the proposed roadway section for purposes  of  protecting the integrity of the pavement and also to provide stormwater runoff conveyance  to  the proposed stormwater inlets. Roadway underdrains may  be  provided  as necessary to control groundwater and protect the roadway base material.

The proposed roadways will require signage and pavement markings  within  the public rights-of-way, as well as street  signs  depicting  street  name  identifications and block numbers, which will be utilized by the residents and public. It is intended that the COD will bond all public roadway improvements.

3

water and Wastewater Facmttes
A potable water system inclusive of water main, gate valves, fire hydrants and appurtenances will be installed tor the Development. The water service provider will be the City of Lakeland Public Utilities. The water system will be a "looped" system consisting of  4",  611,      and   811    diameter  PVC  water  lines.  These  facilities  will  be  installed    within   the proposed public rights-of-way within the District. The water system will  provide  the potable (domestic) and fire protection services which will serve the entire District.

A domestic wastewater collection system consisting of gravity sanitary sewer  mains  and sewer laterals will be installed. The gravity sanitary sewer mains will be 8" diameter PVC. The gravity sanitary sewer lines will be placed inside of the proposed public rights-of-way, under  the proposed paved roadways. Branching off from these sewer lines will be laterals to  serve the individual lots. No  pump  station  or  force  mains  are required  because  the  project has an existing sanitary sewer pump station adjacent to the site.

Reclaimed water is not available for this site. An irrigation well to be funded by the District will be installed onsite to provide irrigation  within  the public right of  way.  Any water,  sewer, or reclaim water pipes or facilities placed on private property will not be publicly funded.

Off-Site Improvements
There are no oft-site improvements currently planned for Phase 2B.

Entry Features t Landscaping & lcdgatlon I Amenjtjes:
District improvements will include entry features at the primary access points on Medulla Road. These features will include signage identifying the community, as well as buffer walls, fencing, landscaping and irrigation to enhance the entrance. The District will own, operate and maintain these features.

The District will provide streetscape along the local collector roads as required by the City of Lakeland Land Development Code. Landscaping and irrigation will also be provided within the local collector road rights-of-way and other common areas provided throughout the Community. The District will maintain the streetscape, landscape, and irrigation
4

systems are they are placed into service.

There are several tracts within the Community that are reserved for recreational use. Anticipated development includes a clubhouse with paved parking area, swimming pool, multi-purpose fields, tennis courts,  multi-purpose  fields,  parks  and  open  spaces.  The District will operate and maintain the public facilities constructed within these areas.

Misceuaneous:
Upon completion of each phase of these improvements, inspection / certifications will be obtained from SWFWMD, the Polk County Health Department (water distribution system), Department of Environmental Protection (DEP, wastewater collection) and the City of Lakeland.

The stormwater improvements, roadways, landscaping and irrigation, mitigation area(s), and certain permits and professional fees as described in this report, are being financed by the District with the intention of benefiting all of the developable real property within this phase. The construction and maintenance of the proposed public improvements  will benefit the Development for the intended use as a mixed use planned development.

The Infrastructure improvements for Phase 3A include the following:

stormwater Management Facilities
Stormwater management facilities consisting of storm conveyance systems and retention ponds are contained within the  District  boundaries and will be  owned and operated by the District. Stormwater runoff is collected via roadway curb and gutter to storm inlets, which are connected by storm culverts. The storm culverts convey the runoff into the proposed detention ponds for water quality treatment and attenuation. The proposed stormwater systems will utilize wet detention for biological pollutant assimilation to achieve water quality treatment. The design criteria for the District's stormwater management systems is regulated by the City of Lakeland, Polk County and SWFWMD.

FEMA Community Panel No. 12105C-0460F (dated 12/19/2000) demonstrates that the property is located within Flood Zones A & X. Floodplain compensation will be required for
5

any fill placed within Flood Zone A. Additionally, there are existing wetlands on site that have been delineated and approved by the appropriate regulatory agencies for such purposes.

During the construction of stormwater management facilities, utilities and roadway improvements, the site contractor will be required to adhere to a Stormwater Pollution Prevention Plan (SWPP P) as required by FDEP as delegated by the Environmental Protection Agency (EPA). The SWPPP will be prepared to depict for the contractor the proposed locations of required erosion control consisting of staked turbidity barriers along the down gradient side of any proposed construction activity and adjacent  to  the wetland  edges and the perimeters. The site contractor will be required to provide the necessary reporting on various forms associated with erosion control, its maintenance and any rainfall events that occur during construction activity.

Roadways

The proposed local public roadway  sections  will  be  owned  by  the  District  andare  to be 50' R/W with 20' of asphalt and Miami curb and gutter on both sides. The proposed roadway section will consist of stabilized subgrade, crushed concrete or cement treated base and asphalt wearing surface. The proposed curb is to be  2' wide and placed along the edge of the proposed roadway section for purposes of protecting the integrity of the pavement and also to provide stormwater  runoff  conveyance  to  the  proposed stormwater inlets. Roadway underdrains may be provided as necessary to control groundwater and protect the roadway base material.

The proposed collector public roadway section will be 100' R/W with 22' of asphalt travel lanes with 4' asphalt bike lanes and Miami curb and gutter on both sides. The collector   road   will   also   include   a   l 0'   wide   asphalt    multi-use tr a i I a n d a  5 '  s i d e w a I k .	The proposed roadway section will consist of stabilized subgrade, crushed concrete or cement treated base and asphalt wearing surface. The proposed curb is to be 2' wide and placed along the edge of the proposed roadway section for purposes of protecting the integrity of the pavement and also to provide stormwater runoff conveyance to the proposed stormwater inlets. Roadway underdrains may be provided as necessary to control groundwater and protect the roadway base material.

6

The proposed roadways will require signage and pavement markings within the public rights-of-way, as well as street signs depicting street name identifications and block numbers, which will be utilized by the residents and public. It is intended that the CDD will bond all public roadway improvements.

water and wastewater Facmties
A potable water system inclusive of water main, gate valves, fire hydrants and appurtenances will be installed for the Development. The water service provider will be the City of Lakeland Public Utilities. The water system  will be  a  "looped" system  consisting of 4", 6" and 8" diameter PVC and 12" DIP water lines. These facilities will be installed within the proposed public rights-of-way within the District. The water system will provide the potable (domestic) and fire protection services which will serve the entire District.

A domestic wastewater collection system consisting of gravity sanitary sewer mains and sewer laterals will be installed. The gravity sanitary sewer mains will be 8" diameter PVC. The gravity sanitary sewer lines will be placed inside of the proposed public rights-of-way, under the proposed paved roadways. Branching off from these sewer lines will be laterals to serve the individual lots. A  pump  station  and  8"  PVC  force  main  is  required  to  serve Phase 3A.

Reclaimed water is not available for this site. An irrigation well to be funded by the District will be installed onsite to provide irrigation within  the public right  of way.  Any water,  sewer, or reclaim water pipes or facilities placed on private property will not be publicly funded.

Ott-Site Improvements
Offsite improvements for Phase 3A include access turn lanes at Pipkin and Medulla as well as approximately  1,000 linear feet of 811   PVC force main extension in Pipkin Road.

Entry Features t Landscaping & lcaaat;on t Amenities;
District improvements will include entry features at the primary access points on West Pipkin Road and Medulla Road. These features will include signage identifying the community, as well as buffer walls, fencing, landscaping and irrigation to enhance the entrance. The District will own, operate and maintain these features.
7

APPENDIX ASSESSMENT TABLES

RESORT POOL SERVICES
1171 MESA VERDE COURr	f CLERMONT
FL 34711
321689 6210
0S/17/2018

POOL SERVICE QUOTE FOR TOWNE PARK II CDD

Thank you for the opportunity to bid for pool service at Towne Park II CDD To provide 3 day a week service:

Poo) service
Janitorial

$950 PER MONTH
$600 PER MONTH

Please take into consideration when  reviewing  other quotes:  Included  in this price will be the supply and installation of a computer on your poo) to add chemicals. The advantage of this is that the pool is being constantly monitored and any change in the chlo.rine level is corrected instantly by the computer giving you and your residents safer water. Currently you just have a continuous feed of chlorine to the main pool and if lots of people are in the pool the chlorine pumps cannot maintain a steady level of chemicals, only once everybody is out of the pool will the chemicals slowly return to the level they have set the pumps at. The computer removes the guess work from what level to set the chemical pumps at, as you will not know how busy the pool will be from one day to the next by having the computer installed this problem isn't an issue any longer.

A further benefit of having the computers is that at no point will you incur any cost to any broken parts of the computer including the Stenna pumps. Should anything break Resort Pool Services will replace free of charge. Stenna pumps are around $450 each.

Chlorine will be delivered to the site and the computers will add the chemicals as needed 24 hours a day.  Please take this into consideration when looking at other bids you may obtain.

Resort Pool Service only service Commercial Hotel pools and HOA Pools, we are experienced in dealing with these types of pools, and provide excellent service. We also offer a full repair

IN WITNESS WHEREOF, the Parties hereto have signed this Construction Materia1s Testing Agreement on the day and year first written above.

Attest:	TOWNEPARK COMMUNITY

Tit1e:	 	

Witness	FAULKNER ENGINEERING SERVICES, INC.

Signature of Witness	Print Name:------ ------ --

Print Name

Exhibit A: Contractor's Proposal dated May 18, 2018

9

£,IIH1911' "9"
UNITPRICE 8CHEOULE
TOWNPAAK ESTAttS SUBDIVl$1011PHASE 2D

l

City of lAkt ll nd, ,L Fl!S Propotal No., PII-S8l7

No.     Ooacription	-9.     1y	Un    it-	P 11ce

- -,

BUILDINGPADC()NSTRUCTION TESTING

1.·   u bomlory Procior	O	EA t	S80.00	S0.00

_-=

Fa\Jhncir ;' r-gu,cciril'\g&cN!C01, lt1c.
5119/10

-}-

AmOUlll •

jS lflpped SubgradoObservations
IFleld DenAi t	•kJir>g P e, d

j	_!_	HR;	M  .00	S360Q9

-

I

325	EA  I    116.00	$5,200.00

-:::=----:--::-;-

'":::::::::.-;

-==

BijjL&tNG PADC ONSTftttefl9!H!! T&li+Tll!l5!G:::::-  -    -

E1111ioeerni gTedinician(Samplingnotln conjunc1ion wllhother tesltJ	4	HR

$   30.00	$120 00

•
II 1 U  TIUTYitTsTALLATION BAC!(FILL  TEIITING

'._

[ -- I

= = ::::--"5Ur,69!!1:8t1.l0l- 

SBO DO

1, Laboratory P1oe1or

 		_

il F, eld Dans,ty Test

I	I	EA
- ·	I

-=-1

$80 .00

I	S■nll aiy Sower

245	EA	$18 00	$3,920.

-	"I

•I

Slonn Oralnogo
wa10/1Re tl41m Wate r

00
oo
00

E
· ,,J..!!

-	17T	r s1s.oo -::i- $2.184.
A  [    srs:o- o J	$1 ,1 84.

.J:.   n_9ineeringTec;.nnlc ian (field so   pUngl
UTIUTV INSTALLATION BACKFILL TESTINGTOTAL

.	+-

I	""" -

1":iii.

L -

-	H,3.28. 0

I
t-
!

_L_
EAI
"EA
HR

  

Ill   ROADWAY CONST TESTING	I

,-1	 	

•· Sub rada com actadl11J1blllndJ

   1•

_

--	-

-=-- --	-

-,	Field Oenshy Tost rorCurb. Emti. nkmeni. and Roadway	40	i  $16.00	SM0,00
2 Llmorotl< 811arl RatioTt"BRJ ror S tabilizedSubgra-do-	9   •	$35       . 00	$31-5'-.o-o	-'

Bas

1

-=-

2. IFleldOentity Teat	12    ,   EA j    $16,0	$192.00 _
1     12   J  EA	S30.00r	$36-0 00

i	gl eerin_o ! echnlclun (neld samp_!, gl_	,

8	S30.00	_J 2◄0 . 00

H

b.  S.te(typo On.Sile	-
imcrock 8'!11 1I11g_Rallo( BR) ror	-
Flole1rhltllnass Oetermlnotion

-9  -    '""Ei.	S180.00	s1 20_

HR
e:;;:

HR

..

4

-,_

-

- 8

- -.

-

--

1

'.

1 ! bDens•t Tu t	--	-

12	-r-$10.00	sm,00

1  Thtdrnoss orField COie$	12  _	$30.00	_	.00
5 i  Englnccnn  Tedlnlelsn ((.cld ss mpTI,ig)	3	$30 00  I	S9000

OCf_!ID TeaUn_g

_

_

_

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d_nr	&_.,G_o_l o	l ◄-"	'--	

1	4	l

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-

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ng_

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-

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4.  Eng,noonnp Tectlnlclan (field_somphng)	_	j-.J:t	S J .0   00_   ,_!!!O
ct.  ElClrnction/Grlldaloln	4	O     _      $520 .0D  
H AspnallCoring for Thlekne11and Donslly	I	5	,    S30.00	$150.00
}j	-	 .

,I ,   Compr o S$1YO S 111n!g l h  of Concrete Cy l  t_n

_	SHETR:	$$T_.0_ 0·0oo: 1

60
s $!:S- .· -000

2.	19lnoolingTedlnician(field a.i_T  Dl
l	DWAYC ONSTR'-!£!!9 !'!. STINGTOTAL_

i - ,-

3 0	.	2
8
1

IV IPROfESSIONAL SERVICES	- 	I
1 ,   Project Engineer/Word Proce,sortorReports and Package	l.S	L.!!,613.0-0 ·     S1,&E. oo
-	PR6i=ess10NAL seRv1ces TOTAL	-  -	j	i"i'M i o-o
J-=l-	-·	- 

Co!IIsummary

k -=-

Bu!!_ lng Pad Con11111c1ion Testing
II , Uillily ln•t•llat lon 8ackr.ll Tos
Ill !  Roadway	ructionI!sJ!.n,o,

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: : : : : :
$11,479 . 00

IV Prof essions! Servloes
X&al1119  o    nc;;:;1i11		e	_ 
CONSTRUCTIONMATERIALS TESTING TOTAL

,  _	I	_	' _ 11,en .oo
198	lo

-f--------	
15

Phase 3A Construction	Bill No. 100469	Page  2
============--========--------------=======-=------------===---------------------------
Total fees for this matter	$2,498.00

DISBURSEMENTS
Document Reproduction Conference Calls

Total disbursements for this matter

181.00
5.58

$186.58

MATTER SUMMARY

Jaskolski, Amy H. - Paralegal	0.80 hrs	145 /hr	$116.00	
Van Wyk, Roy	5.50 hrs	295 /hr	$1,622.50	
Warren, Sarah S.	3.10 hrs	245 /hr	$759.50	
TOTAL FEES			$2,498.00	
TOTAL DISBURSEMENTS			$186.58	
TOTAL CHARGES FOR THIS MATTER			$2,684.58	

BILLING SUMMARY

Jaskolski, Amy H. - Paralegal	0.80 hrs	145	/hr	$116.00	
Van Wyk, Roy	5.50 hrs	295	/hr	$1,622.50	
Warren, Sarah S.	3.10 hrs	245	/hr	$759.50	
TOTAL FEES				$2,498.00	
TOTAL DISBURSEMENTS				$186.58	
TOTAL CHARGES FOR THIS BILL				$2,684.58	

Please include the bill number on vour check.

Revenues

Towne Park COD Statement of Activities As of 5/31/2018

General Fund	Debt Service	Capital Projects	Long Term	Total	
	Funds	Fund	Debt Group		

Off-Roll Assessments	$116,412.20				$116,412.20	
Off-Roll Assessments		$595,374.02			595,374.02	
Developer Contributions			$21,623.37		21,623.37	
Total Revenues	$116,412.20	$595,374.02	$21,623.37	$0.00	$733,409.59	

Expenses

Supervisor Fees	$3,800.00				$3,800.00	
D&O Insurance	2,356.00				2,356.00	
Trustee Services	2,788.03				2,788.03	
Management	16,666.64				16,666.64	
Dissemination Agent	4,000.00				4,000.00	
District Counsel	13,677.00				13,677.00	
Audit	5,750.00				5,750.00	
Telephone	34.09				34.09	
Postage & Shipping	144.63				144.63	
Copies	510.45				510.45	
Legal Advertising	2,092.97				2,092.97	
Miscellaneous	205.08				205.08	
Web Site Maintenance	600.00				600.00	
Dues, Licenses, and Fees	175.00				175.00	
Water	10,740.82				10,740.82	
General Insurance	2,946.00				2,946.00	
Landscaping Maintenance & Material	13,470.98				13,470.98	
Principal Payments Bond		$300,000.00			300,000.00	
Interest Payments Bond		162,621.88			162,621.88	
Engineering			$9,535.00		9,535.00	
District Counsel			12,088.37		12,088.37	
Total Expenses	$79,957.69	$462,621.88	$21,623.37	$0.00	$564,202.94	

Other Revenues {Expenses} & Gains {Losses}						
Interest Income	$2.05				$2.05	
Interest Income		$449.63			449.63	
Interest Income			$4.38		4.38	
Total Other Revenues (Expenses) & Gains (Losses)	$2.05	$449.63	$4.38	$0.00	$456.06	
Change In Net Assets	$36,456.56	$133,201.77	$4.38	$0.00	$169,662.71	

Net Assets At Beginning Of Year	
$4,088.57	
$257,385.71	
$3,419.68	
$0.00	
$264,893.96	

Net Assets At End Of Year	

$40,545.13	

$390,587.48	

$3,424.06	

$0.00	

$434,556.67	

Towne Park CDD
Budget to Actual
For the Month Ending 05/31/2018

Year To .Date

Actual

Budge t	Variance	FY 20 18
Adopted Budget

Revenues

Off-Roll Assessmenl$	$116 ,41 2.20	$0.00	$116,412.20	$0.00	
Developer Contributions	0.00	110,000.00	(110,000.00)	165,000.00	
Net Revenues	$116,412.20	$110 ,000 .00	$6,41 2.20	$165,000 .00	

General & Admlnlstratlvo Ex11o n sos					
S u perv i $or Fees	$3,800.00	$2,666.67	$1,133.33	$4,000.00	
D&O Insurance	2,356.00	1,666 .67	689 .33	2,500.00	
Tru stee Services	2 ,788 .03	2,666.67	12 1.36	4,000.00	
Management	16,666.64	16,666 .67	(0.03)	25 ,000.00	
Engineering	0.00	6,666.67	(6,666.67)	10,000.00	
Dissemlnallon Agent	4,000 .00	0 .00	4 .000 00	0.00	
Dist(lcl Co\Jn se l	1 3,677. 00	1 6 ,666 ,67	(2,9 8 9. 67)	25 .0 00.00	
A ud i t	5 ,7 50 ,0 0	3,333 . 33	2 ,41 6.67	5,00 0 . 0 0	
T rave l and Per Diem	0.00	333.33	(333.33)	500.00	
Telephone	34.09	133.33	(99.24)	200.00	
Postage & Shipping	144.63	100.00	44.63	150.00	
Copies	510 ,45	1,000.00	(489,55)	1 ,500.00	
Legal Ad vertising	2,092.97	3,333.33	(1,240.36)	5, 000 .00	
Bank Fe es	0 ,00	166. 07	{166,6 7)	250.00	
Miscell aneous	205.08	5,500 .00	(5,294.92)	8,250 ,00	
Web Si te Maintenance	600.00	600 .00	0.00	900 ,00	
Dues, Li censes, and F1;1es	17 5 . 00	1 66.67	8 .33	25 0 .00	
W a te r	1 0 ,7 40 . 8 2	0. 00	10,740.82	o.oo	
Aquatic Contra ct	0.00	6,666 .67	(6,666 .67)	10 ,00 0.00	
Genera l lnsur anc-0	2. 94 6.00	1 ,666.6 7	1,279 . 33	2,500 . 0 0	
Pro p erty & Cas u al ty	0 .0 0	3,3 33.33	(3,333 .33)	5 ,000.00	
Clubhouse & Pool Maintenance	0.00	6,666.67	(6,666.67)	10,000.00	
Landscaping Maintenance & Malerlal	13,470.98	26,666 .67	(13 ,195 .69)	40,000.00	
Streetligh ts	0 .00	3,333 .33	(3,333 .33)	5,000.00	
Total General & Adrninl strativo Ex penses	$7 9,957.69	$110,000 ,00	$(30,042.31)	$	165,000.00	
Total E xponsos	!F S,957.69	i 110,000.00	$ j30,042.31)	i	165,000.00	
Income (Loss) from Operations	$36,454.51	$0.00	$36,454.51	$	

Othor I Qcomo (Ex p e n s e}					
Int e r es t In co m e	$2 .05	$ 0. 0 0	$ 2. 05	$	
T o ta l O th or Income (Expenso)	$2.05	$0.00	$2.05	$	
Net Income (Loss)	$36,456.56	$0.00	$36,456.56	$