Heritage Bay Minutes 01/19/2018 (Continued from 01/04/2018) MINUTES OF CONTINUED MEETING
HERITAGE BAY
COMMUNITY DEVELOPMENT DISTRICT
The regular meeting of the Board of Supervisors of the Heritage Bay Community
Development District held on Thursday, January 4, 2018 at 9:00 a.m. was continued to
Friday,January 19,2018 at 9:00 a.m.in the Heritage Bay Clubhouse, 10154 Heritage Bay
Boulevard,Naples, Florida.
Present and constituting a quorum were:
Edwin Hubbard Chairman
John May Vice Chairman
Jack Arcurie Assistant Secretary
Dennis Gagne Assistant Secretary
Phillip Magnarella Assistant Secretary
Also present were:
Bob Koncar District Manager
Greg Urbancic District Counsel
Jeff Satfield District Engineer
Wendell Gaertner PRAG, Financial Adviser
The following is a summary of the actions taken at the January 19, 2018
continued meeting of the Heritage Bay Board of Supervisors.
FIRST ORDER OF BUSINESS Roll Call
Mr. Koncar called the meeting to order and called the roll.
SECOND ORDER OF BUSINESS Approval of Agenda
On MOTION by Mr. May seconded by Mr. Gagne with all
in favor the agenda was approved as presented.
THIRD ORDER OF BUSINESS Public Comments on Agenda
Items
Hearing no comments from the audience,the next item of business followed.
January 19, 2018 Continued Meeting Heritage Bay CDD
FOURTH ORDER OF BUSINESS Engineer's Report
A. CPH Lake 30A/30B Erosion Restoration Project
B. Hurricane Damage Erosion Restoration Project
i. Project Liability Concerns—Draft Contract Review
C. Lake 20 North Bank Berm Update
• Mr. Satficld noted the Engineer's Report was updated to take out Lake 20. If
fiends are available, we can amend and supplement the report to add as additional
part of the project. The language in the indenture will allow us to do this.
• Discussion ensued with regard to the Supplemental Engineer's Report.
> Page one—change to 252 single family units
➢ Page two—change to Lake30A and 30B
On MOTION by Mr. Gagne seconded by Mr. Arcurie with
all in favor to accept the Supplemental Engineer's Report
with incorporated changes was approved.
FIFTH ORDER OF BUSINESS Attorney's Report
A. Consideration of Resolution 2018-2,Initial Assessment Resolution
i. Supplemental Engineer's Report
• Previously discussed.
ii. Supplemental Assessment Methodology
• Mr.Gaertner provided an overview of the assessment methodology.
• Mr. Urbancic reviewed the public hearing process and Resolution 2018-2, Initial
Assessment Resolution.
• The total principal amount being levied is$21,135,000.
(Intentionally Left Blank)
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January 19, 2018 Continued Meeting Heritage Bay CDD
On MOTION by Mr. Hubbard seconded by Mr. Arcurie
with all in favor Resolution 2018-2 Relating to the
Refunding of the Heritage Bay Community Development
District Capital Improvement Revenue Refunding Bonds,
Series 2014; Declaring Special Assessments; Indicating the
Location, Nature and Estimated Cost of Those
Improvements Which Cost is to be Defrayed in Whole or in
Part by the Special Assessments; Providing the Portion of
the Estimated Cost of the Improvements to be Defrayed in
Whole or in Part by the Special Assessments; Providing the
Manner in Which Such Special Assessments Shall be
Made; Providing When Such Special Assessments Shall be
Made; Designating Lands Upon Which the Special
Assessments Shall be Levied; Providing for an Assessment
Plat; Adopting a Preliminary Assessment Roll; Providing
for a Public Hearing to Consider the Advisability and
Propriety of Said Assessments and the Related
Improvements; Providing for Notice of Said Public
Hearing; Providing for Publication of this Resolution;
Providing for Conflicts, Providing for Severability and
Providing an Effective Date was adopted with changes to
page two.
B. Consideration of Resolution 2018-3,Setting Public Hearing
• Discussion ensued with regard to setting a date for the public hearing.
On MOTION by Mr. May seconded by Mr. Gagne with all
in favor Resolution 2018-3 Setting a Public Hearing to be
Held on March 19, 2018 at 9:00 a.m. at the Heritage Bay
Clubhouse, 10154 Heritage Bay Boulevard, Naples, FL
34120, for the Purpose of Hearing Public Comment on
Imposing Special Assessments on Certain Property within
the District Generally Described as the Heritage Bay
Community Development District in Accordance with
Chapters 170, 190 and 197, Florida Statutes; Providing for
Conflicts, Providing for Severability and Providing an
Effective Date was adopted.
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January 19, 2018 Continued Meeting Heritage Bay CDD
• Mr. Gaertner distributed for review by the Board a Transaction Summary sheet
that will be sent to the rating agencies.
• He reviewed the rating process noting they typically go to Standard & Poor's for
rating.
On MOTION by Mr. Magnarella seconded by Mr. May
with all in favor the Chairman was authorized to engage
Standard & Poor's for the rating evaluation.
SIXTH ORDER OF BUSINESS Audience Comments
There not being any,the next item followed.
• The letter of resignation from Mr. Magnarclla effective January 20, 2018 was
accepted.
• The process of filling the vacant seat was discussed.
SEVENTH ORDER OF BUSINESS Adjournment
There being no further business,the meeting was adjourned.
stip Faircloth Edwin Hubbard
ecretary/Assistant Secretary Chairman
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