The URL can be used to link to this page

05/15/2017 Agenda Cedar Hammock Community Development District Board of Supervisors Tom Cook,Chairman Bob Koncar,District Manager Gary McClellan,Vice Chairman Justin Faircloth,Assistant District Manager Larry Minamyer,Assistant Secretary Dan Cox,District Counsel Norman Day,Assistant Secretary Sam Marshall,District Engineer Quentin Greeley,Assistant Secretary Regular Meeting Agenda May 15, 2017—3:00 p.m. 1. Roll Call 2. Approval of Agenda 3. Audience Comments 4. Approval of the Minutes of the April 17, 2017 Meeting 5. FY 2018 Budget Public Hearing A. Adoption of the Budget for Fiscal Year 2018 (Resolution 2017-4) B. Levy of Non-Ad Valorem Assessments (Resolution 2017-5) 6. Old Business A. Discussion of Road Maintenance Project 7. New Business A. Change Order 1 -for Design Wall Replacement B. Change Order lA-for Design Wall Replacement C. Loan Quotes 8. Mcanager's Report A. Field Management Report B. Meeting Schedule for Fiscal Year 2018 9. Attorney's Report 10. Engineer's Report 11. Communication to Master Board 12. Supervisors Request 13. Adjournment THE NEXT REGULAR MEETING IS SCHEDULED FOR OCTOBER 9,2017 at 3:00 P.M. RESOLUTION 2017-4 A RESOLUTION OF THE CEDAR HAMMOCK COMMUNITY DEVELOPMENT DISTRICT RELATING TO THE ANNUAL APPROPRIATIONS OF THE DISTRICT AND ADOPTING THE. BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2017 AND ENDING SEPTEMBER 30, 2018, AND REFERENCING THE MAINTENANCE AND BENEFIT SPECIAL ASSESSMENTS TO BE LEVIED BY THE DISTRICT FOR SAID FISCAL YEAR WHEREAS, pursuant to the provisions of Section 190.008(2)(a), Florida Statutes, the District Manager has submitted to the Board of Supervisors (the"Board")a proposed budget for the next ensuing budget year along with an explanation and a complete financial plan for each Rand of the District,prior to the fifteenth(.I>tm day in June,2017;and WHEREAS,at least sixty (60)days prior to the adoption of the proposed annual budget and any proposed long-term financial plan or program of the District for future operations(the "Proposed Budget) the District did tile a copy of the Proposed Budget with the general purpose local governing authorities having jurisdiction over the area included in the District pursuant to the provisions of Section 190.008(2)(b), Florida Statutes;and WHEREAS, on March 13, 2017, the Board set May 15, 2017 as the date tint a public hearing thereon and caused notice of such public hearing to be given by publication pursuant to Section 190.008(2)(a)Florida Statutes:and WHEREAS,Section 190.00th2)(a), Florida Statutes requires that,prior to October I of each year, the District Board by passage of the Annual Appropriation Resolution shall adopt a budget for the ensuing fiscal year and appropriate such stints of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year;and WHEREAS, the District Manager has prepared a Proposed Budget on a Cash Flow Budget basis, whereby the budget shall project the cash receipts and disbursements anticipated during a given time period, includin4, reserves for contingencies for emergency or other unanticipated expenditures during the fiscal year;and WHEREAS, Section 190,021, Florida Statutes provides that the Annual Appropriation Resolution shall also fix the Maintenance Special Assessments and Benefit Special .Assessments upon each piece of property within the boundaries of the District benefited, specifically and peculiarly, by the maintenance and'or capital improvement programs of the District, such levy representing the amount of District assessments necessary to provide t2nr payment during the ensuing budget year of all properly authorized expenditures to he incurred by the District, including principal and interest of'special revenue, capital improvement and`or benefit assessment bonds, in order for the District to exercise its various general and special powers to implement its single and specialized infrastructure provision purpose;and WHEREAS, the Board of Supervisors of the Cedar Hammock Community Development. District finds and determines that the non-ad valorem special assessments it imposes and levies on the parcels of property by this Resolution for the operations of the District and the maintenance of its facilities will constitute a mechanism by which the property owners lawfully and validly will reimburse the District for those certain special mid peculiar benefits the District has determined are received by, and flow to. the parcels of property from the systems, facilities and services being provided, and that the special and peculiar benefits are apportioned in a manner that is fair and reasonable in accordance with applicable assessment methodology and related ease foo and WHEREAS, the Chair of the Board of Supervisors may designate the District Manager or other person to certit; the non-ad vatorem assessment roll to the Tax Collector in and for Collier County political subdivision on compatible electronic medium tied to the properly identification number no later than i s September 2017 so that the Tax Collector may merge that roll with others into the collection roll from which the November tax notice is to be printed and mailed:and WHEREAS, the proceeds from the collections of these imposed and levied non-ad valorem assessments shall be paid to the Cedar Hammock Community Development District;and WHEREAS. the Tax Collector, under the direct supervision of the Florida Department of Revenue perforin the state work in preparing, mailing out, collecting and enforcing against delinquency the non-ad valorem assessments of the District using the Ilaiform Collection Methodology for non-ad valorem assessments;and WHEREAS, it' the Property Appraiser and the Tax Collector have adopted a different technological procedure for certifi ins,and merging the rolls, then that procedure must be worked out and negotiated with Board approval through the auspices of the District Manager before there are any deviations from the provisions of Section 197.3632, l ia. Stat..and Rule I 2D-18, Florida Administrative Code. NOW, THEREFORE, BE El' RESOLVED BY THE BOARD OF SUPERVISORS OF CEDAR HAMMOCK COMMUNITY DEVELOPMENT DISTRICT; Section 1. The provisions of the whereas clauses are true and correct and are incorporated herein as dispositive. Section 2. Budget a. That the Board of Supervisors has reviewed the District Managers Proposed Budget. a copy of • which is on file with the office of the District Treasurer and the office of the Recording Secretary, and is hereby attached to this resolution, and hereby approves the Proposed Budget subject to amendments made at the public hearing, if any. b. That the District Manager's Proposed Budget, as amended by the Board, is adopted hereby in accordance with the provisions of Section I90.008(2l(a), Florida Statutes and incorporated herein by reference; provided, however, that the comparative figures contained in the adopted budget may be revised subsequently as deemed necessary by the District Manager to reflect actual revenues and expenditures for the Fiscal Year 2017 and/or revised projections for Fiscal Year 201$. c. That the adopted budget, as amended, shall he maintained in the office of the District Treasurer and the District Recording. Secretary and identified as "The Budget for the Cedar Hammock Community Development District for the Fiscal Year Ending September 30, 2018.as Adopted by the Board of Supervisors on May 15.201 7." Section 3. Appropriations That there he,and hereby is appropriated out of the revenues of the Cedar l-lanttnock Community Development District, for the Fiscal Year beginning October I,2017,and ending September 30,2018 the sum of Three hundred sixty six thousand three hundred fifty nine dollars (S 366.359 ) to bc raised by the applicable imposition and levy by the Board of non-ad valorem special assessment, and otherwise, which sum is deemed by the Board of Supervisors to he necessary- to defray all expenditures of the District during said budget year, to be divided and appropriated in the following fashion: TOTAL GENERAL FUND S 366,359 DEBT SERVICE FUND $0 Total Ali Funds 5 366,359 Section 3. Supplemental Appropriations The Boyd may authorize by resolution supplemental appropriations or revenue changes for any lawful purpose from funds on hand or estimated to be received within the fiscal Sear as follows: a. Board may authorize a transfer of the unexpended balance or portion thereof of any appropriation item. b. Board may authorize an appropriation from the unappropriated balance of any fund. c. Board may increase any revenue or income budget account to reflect receipt of any additional unbudgeted monies and make the corresponding change to appropriations of the unappr pi iated balance, the District Manager and Treasurer shall have the power within a given fund to authorize the transfer of any unexpended balance of any appropriation item or any portion thereof, provided such transfers do not exceed Ten Thousand(510.000) Dollars or have the effect of causing more than 10%of the total appropriation of a given program or project to be transferred previously approved transfers included. Such transfer shall not have the effect of causing a mere than 110.000 or 10% increase, previously approved transfers included. to the original budget appropriation for the receiving program. Transfers within a program or project may be approved by the applicable department director and the District Manager or Treasurer. The District Manager or Treasurer must establish administrative procedures, which require information on the request forms proving that such transfer requests comply with this section. Section 5. Maintenance and Benefit Special Assessment Levy: Fixed and Referenced and to be Levied by the Board a. That the Fiscal Year 2018 Maintenance and Benefit Special Assessment Levies(the"assessment levy") for the assessment upon all the property within the boundaries of the District based upon the special and peculiar benefit received and further based upon reasonable and fair apportionment of the special benefit, shall be in accordance with the attached Exhibit A, which levy represents the amount of District assessments necessary to provide for payment during the aforementioned budget year of all properly authorized expenditures to be incurred by the District, including principal and interest of special revenue,capital improvement and or benefit assessment bonds. Said assessment levy shall he distributed as follows: General Fund 0&M $ [See Assessment Levy Resolution 2017-5 Debt Service Fund $ [See Assessment Levy Resolution 2017-51 b. The designee of the Chair of the Board of Supervisors of the Cedar I lammock Community Development District shall be the Manager or the Treasurer of the District designated to certify the non-ad valorem assessment roll to the Tax Collector in and for the Collier County political subdivision, in accordance with applicable provisions of State law (Chapters 170, 190 and 197, Fla. Stat.) and applicable rules (Rule 12D-1S, Florida Administrative Code) which shall include not only the maintenance special assessment levy but also the total for the debt service levy, as required by and pursuant to law. Introduced,considered favorably,and adopted this 15th day of May,2017. Cedar Hammock Community Development District Tom Cook Chairman II Attest: C's1(2/ eir) ./1,. Bob Koncar `I Secretary CEDAR HAMMOCK COMMUNITY DEVELOPMENT DISTRICT Annual Operating Budget Fiscal Year 2018 Version 5-FINAL BUDGE I (ADOPTED 5/15/2017) Prepared by: SEVERN INtittatarig CEDAR HAMMOCK Community Development District Table of Contents Page# OPERATING BUDGET General Fund Summary of Revenues, Expenditures and Changes in Fund Balances 1-2 Amortization Schedule 3-5 Budget Narrative 6-9 Exhibit A-Allocation of Fund Balances 10 SUPPORTING BUDGET SCHEDULES 2017-2018 Non-Ad Valorem Assessment Summary 11 CEDAR HAMMOCK COMMUNITY DEVELOPMENT DISTRICT Operating Budget Fiscal Year 201B CEDAR HAMMOCK Community Development District General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2018 Adopted Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU APR- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2016 FY 2017 MARCH-2017 SEPT-2017 FY 2017 FY 2018 REVENUES Interest-Investments $ 3,494 $ 2,017 $ 1,847 $ 170 $ 2,017 $ 2,017 Special Assmnts-Tax Collector 279,650 279,653 273,088 6,565 279,653 379,523 Special Assmnts Discounts (10,201) (11,186) (10,327) - (10,327) (15,181) TOTAL REVENUES 272,943 270,484 264,608 6,735 271,343 366,359 EXPENDITURES Administrative ProfServ-Engineering 7,544 15,000 10,693 14,970 25,663 30,000 ProfSery-Legal Services 1,363 2,000 490 1,510 2,000 2,000 ProfSery-Mgmt Consulting Sery 35,146 36,200 14,557 17,573 32,130 37,286 ProfSery-Property Appraiser 4,195 4,195 4,195 - 4,195 5,693 ProfServ-Special Assessment 2,855 2,855 2,855 - 2,855 2,855 ProfServ-Web Site Maintenance - 618 308 310 618 637 Auditing Services 5,000 5,000 5,000 - 5,000 5,000 Postage and Freight 407 765 267 498 765 765 Insurance-General Liability 7,135 7,500 7,235 - 7,235 7,500 Printing and Binding 738 1,000 223 515 738 1,000 Legal Advertising 1,839 1,500 - 1,500 1,500 2,394 Misc-Bank Charges 690 600 347 347 694 700 Misc-Assessmnt Collection Cost 3,291 5,593 5,255 131 5,386 7,590 Misc-Web Hosting 682 232 - 232 232 232 Office Supplies 121 400 150 150 400 Annual District Filing Fee 175 175 175 - 175 175 Total Administrative 71,181 83,633 51,600 37,737 89,337 104,227 Field ProfSery-Field Management 700 1,450 725 725 1,450 1,494 Contracts-Water Mgmt Services 7,200 7,200 3,600 3,600 7,200 7,200 Contracts-Water Quality 2,305 10,910 - - - - Utility-Cameras 1,271 1,380 654 660 1,314 1,320 Electricity-Wells 139 - 1,317 1,500 2,817 3,000 Electricity-Aerator 369 - 716 696 1,412 2,000 R&M-General 5,822 - - - - - R&M-Lake 1,423 3,000 3,000 3,000 3,000 R&M-Plant Replacement - 3,015 1,593 1,422 3,015 3,015 Misc-Contingency 1,528 18,071 7,794 10,277 18,071 15,868 Capital Outlay - 24,825 22,875 1,950 24,825 9,945 Capital Outlay-Bulkheads - - - - - 1,500,000 Reserve-Bridges - 15,000 - - - 20,910 Reserve-Bulkheads 28,290 15,000 18,617 14,759 33,376 83,980 Reserve-Lakes 100,465 15,000 442 - 442 15,000 Reserve-Roadways - 72,000 - 194,220 194,220 72,000 Total Field 149,512 186,851 58,333 232,809 291,142 1,738,732 Annual Operating Budget Page 1 Fiscal Year 2018 CEDAR HAMMOCK Community Development District General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2018 Adopted Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU APR- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2016 FY 2017 MARCH-2017 SEPT-2017 FY 2017 FY 2018 Debt Service Interest Expense - - - - 23,400 Total Debt Service - - - - - 23,400 TOTAL EXPENDITURES 220,693 270,484 109,933 270,546 380,479 1,866,359 Excess(deficiency)of revenues Over(under)expenditures 52,250 - 154,675 (263,811) (109,136) (1,500,000) OTHER FINANCING SOURCES(USES) Loan Proceeds - - - - 1,500,000 TOTAL OTHER SOURCES(USES) - - - - - 1,500,000 Net change in fund balance 52,250 - 154,675 (263,811) (109,136) - FUND BALANCE,BEGINNING 665,152 717,402 717,402 - 717,402 608,266 FUND BALANCE,ENDING $ 717,402 $ 717,402 $ 872,077 $ (263,811) $ 608,266 $ 608,266 Annual Operating Budget Page 2 Fiscal Year 2018 CEDAR HAMMOCK Community Development District Proposed $1,500,000 Loan Date Payment Principal Interest Balance 3/1/2018 1,300.00 - 1,300.00 500,000.00 4/1/2018 2,600.00 - 2,600.00 1,000,000.00 5/1/2018 3,900.00 - 3,900.00 1,500,000.00 6/1/2018 3,900.00 - 3,900.00 1,500,000.00 7/1/2018 3,900.00 - 3,900:00 1,500,000.00 8/112018 3,900.00 - 3,900.00 1,500,000.00 9/1;2018 3,900.00 - 3,900.00 1,500,000.00 _ 10/1/2018 3,900.00 - 3,900.00 1,500,000.00 11/1/2018 3,900.00 - 3,900.00 1,500,000.00 12/1/2018 3,900.00 - 3,900.00 1,500,000.00 1/1/2019 3,900.00 - 3,900.00 1,500,000.00 2/112019 3,900,00 - 3,900.00 1,500,000.00 3/1/2019 14,567.35 10,667.35 3,900.00 1,489,332.65 4/1/2019 14,567.35 10,695.09 3,872.26 1,478,637.56 5/1/2019 14,567.35 10,722.89 3,844.46 1,467,914.67 6/1/2019 14,567.35 10,750.77 3,816.58 1,457,163.90 7/1/2019 14,567.35 10,778.72 3,788.63 1,446,385.18 8/1/2019 14,567.35 10,806.75 3,760.60 1,435,578.43 9/1/2019' 14,567.35 10,834.85 3,732.50 1,424,743.58 10/1/2019 14,567.35 10,863.02 3,704.33 1,413,880.57 11/1/2019 14,567.35 10,891.26 3,676.09 1,402,989.31 12/1/2019 14,567.35 10,919.58 3,647.77 1,392,069.73 1/1/2020 14,567.35 10,947.97 3,619.38 1,381,121.76 2/1/2020 14,567.35 10,976.43 3,590.92 1,370,145.33 3/1/2020 14,567.35 11,004.97 3,562.38 1,359,140.35 4/1/2020 14,567.35 11,033.59 3,533.76 1,348,106.77 _ 5/1/2020 14,567.35 11,062.27 3,505.08 1,337,044.50 6/1/2020 14,567.35 11,091.03 3,476.32 1,325,953.46 7/1/2020 _ 14,567.35 11,119.87 3,447.48 1,314,833.59 8/1/2020 14,567.35 11,148.78 3,418.57 1,303,684.81 9/1/2020 14,567.35 11,177.77 3,389.58 1,292,507.04 10/1/2020 14,567.35 11,206.83 3,360.52 1,281,300.21 11/1/2020 14,567.35 11,235.97 3,331.38 1,270,064.24 12/1/2020 14,567.35 11,265.18 3,302.17 1,258,799.05 1/1/2021 14,567.35 11294.47 _ 3,272.88 1,247,504.58 2/1/2021 14,567.35 ' 11,323.84 3,243.51 1,236,180.74 3/1/2021 14,567.35 11,353.28 3,214.07 1,224,827.46 4/1/2021 14,567.35 11,382.80 _ 3,184.55 1,213,444.66 5/1/2021 14,567.35 11,412.39 3,154.96 1,202,032.27 6/1/2021 14,567.35 _ 11,442.07 3,125.28 - 1,190,590.20 7/1/2021 14,567.35 11,471.82 3,095.53 1,179,118.39 8/1/2021 14,567.35 11,501.64 3,065.71 1,167,616.75 9/1/2021 14,567.35 11,531.55 3,035.80 1,156,085.20 10/1/2021 14,567.35 11,561.53 u 3,005.82 1,144,523.67 11/1/2021 14,567.35 11,591.59 2,975.76 1,132,932.08 12/1/2021 14,567.35 11,621.73 2,945.62 1,121,310.36 1/1/2022 14,567.35 11,651.94 2,915.41 1,109,658.41 2/1/2022 14,567.35 11,682.24 2,885.11 1,097,976.18 3/1/2022 14,567.35 11,712.61 2,854.74 1,086,263.5656 4/1/2022 _ 14,567.35 11,743.06 2,824.29 1,074,520.50 5/1/2022 14,567.35 11,773.60 2,793.75 1,062,746.90 6/1/2022 14,567.35 11,804.21 2,763.14 1,050,942.69 7/1/2022 14,567.35 11,834.90 2,732.45 1,039,107.80 8/1/2022 14,567.35 11,865.67 2,701.68 1,027,242.13 Ainual Operating Budget Fiscal Year 2018 Page 3 CEDAR HAMMOCK Community Development District Proposed$1,500,000 Loan Date Payment Principal Interest Balance 9/1/2022 14,567.35 11,896.52 2,670.83 1,015,345.61 10/1/2022 14,567.35 11,927.45 2,639.90 1,003,418.15 11/1/2022 14,567.35 11,958.46 2,608.89 991,459.69 12/1/2022 14,567.35 11 989.55 2,577.80 979,470.14 1/1/2023 14,567.35 12,020.73 2,546.62 967,449.41 2/1/2023 14,567.35 12,051.98 2,515.37 955,397.43 3/1/2023 14,567.35 12,083.32 2,484.03 943,314.11 4/1/2023 14,567.35 12,114.73 2,452.62 931,199.38 5/1/2023 14,567.35 12,146.23 2,421.12 919,053.15 6/1/2023 14,567.35 12,177.81 2,389.54 906,875.33 1 7/1/2023 14,567.35 12,209.47 2,357.88 894,665.86 I 8/1/2023 14,567.35 12,241.22 2,326.13 882,424.64 9/1/2023 14,567.35 12,273.05 2,294.30870,151.59 10/1/2023 14,567.35 12,304.96 2,262.39 857,846.64 11/1/2023 14,567.35 12,336.95 2,230.40 845,509.69 12/1/2023 14,567.35 _ 12,369.02 2,198.33 833,140.67 1/1/2024 14,567.35 12,401.18 2,166.17 820,739.48 2/1/2024 14,567.35 12,433.43 2,133.92 808,306.05 3/1/2024 14,567.35 12,465.75 2,101.60 795,840.30 4/1/2024 14,567.35 12,498.17 2,069.18 783,342.13 5/1/2024 14,567.35 12,530.66 2,036.69 770,811.47 6/1/2024 14,567.35 12,563.24 2,004.11 758,248.23 7/1/2024 14,567.35 12,595.90 1,971.45 745,652.33 8/1/2024 14,567.35 12,628.65 1,938.70 733,023.68 9/1/2024 14,567.35 12,661.49 1,905.86 720,362.19 10/1/2024 14,567.35 12,694.41 1,872.94 707,667.78 11/1/2024 _14,567.35 12,727.41 1,839.94 694,940.36 12/1/2024 14,567.35 12,760.51 1,806.84 682,179.86 1/1/2025 14,567.35 12,793.68 ' 1,773.67 669,386.18 2/1/2025 14,567.35 12,826.95 1,740.40 656,559.23 3/1/2025 14,567.35 12,860.30 1,707.05 643,698.94 4/1/2025 14,567.35 12,893.73 1,673.62 630,805.20 5/1/2025 14,567.35 12,927.26 1,640.09 617,877.95 6/1/2025 14,567.35 12,960.87 1,606.48 604,917.08 7/1/2025 14,567.35 12,994.57 1,572.78 591,922.51 8/1/2025 14,567.35 13,028.35 1,539.00 578,894.16 9/1/2025 14,567.35 13,062.23 1,505.12 565,831.94 - 10/1/2025 14,567.35 13,096.19 1,471.16 552,735.75 11/1/2025 14,567.35 13,130.24 1,437.11 539,605.51 12/1/2025 14,567.35 13,164.38 1,402.97 526,441.14 1/1/2026 14,567.35 13,198.60 1,368.75 513,242.53 2/1/2026 14,567.35 13,232.92 1,334.43 500,009.61 3/1/2026 14,567.35 13,267.33 1,300.02 486,742.29 4/1/2026 14,567.35 13,301.82 1,265.53 473,440.47 5/1/2026 14,567.35 13,336.40 1,230.95 460,104.06 6/1/2026 14,567.35 13,371.08 1,196.27 446,732.98 7/1/2026 14,567.35 13,405.84 1,161.51 433,327.14 8/1/2026 14,567.35 13,440.70 1,126.65 419,886.44 9/1/2026 14,567.35 13,475.65 1,091.70 _ 406,410.80 10/1/2026 14,567.35 13,510.68 1,056.67 392,900.11 11/1/2026 14,567.35 13,545.81 1,021.54 379,354.30 12/1/2026 14,567.35 13,581.03 986.32 365,773.28 1/1/2027 14,567.35 13,616.34 951.01 352,156.94 2/1/2027 14,567.35 13,651.74 915.61 338,505.19 Annual Operating Budget Fiscal Year 2018 Page 4 CEDAR HAMMOCK Community Development District Proposed$1,500,000 Loan Date ' Payment Principal Interest Balance 3/1/20271 14,567.35 13,687.24 880.11 324,817.96 4/1/2027' 14,567.35 13,722.82 844.53 311,095.13 5/1/2027! 14,567.35 13,758.50 808.85 297,336.63 6/1/2027', 14,567.35 13,794.27 773.08 283,542.36 7/1/2027' 14,567.35 13,830.14 737.21 269,712.22 8/1/2027! 14,567.35 13,866.10 701-25 255,846.12 9/1/2027 14,567.35 13,902.15 665.20 241,943.97 10/1/2027 14,567.35 13,938.30 629.05 228,005.67 11/1/2027 14,567.35 13,974.54 592.81 214,031.14 ; 12/1/2027, 14,567.35 14,010.87 556.48 200,020.27 1 1/1/2028 14,567.35 14,047.30 520.05 185,972.97 2/1/2028 14,567.35 14,083.82 483.53 171,889.15 3/112028 14,567.35 14,120.44 446.91 157,768.71 4/1/2028 14,567.35 14,157.15 410.20 143,611.56 5/1/2028 14,567.35 14,193.96 373.39 129,417.60 6/1/2028 14,567.35 14,230.86 336.49 115,186.74 7/1/2028 14,567.35 14,267.86 299.49 100,918.87 8/1/2028 14,567.35 14,304.96 262.39 86,613.91 9/1/2028 14,567.35 14,342.15 225.20 72,271.76 10/1/2028 14,567.35 14,379.44 187.91 57,892.31 11/1/2028 14,567.35 14,416.83 150.52 43,475.48 12/1/2028 14,567.35 14,454.31 113.04 29,021.17 1/1/2029 14,567.35 14,491.89 75.46 14,529.28 2/1/2029 14,567.05 14,529.27 37.78 0.00 Annual Operating Budget , .. „ ..... ... .. .._,_.0, .._ Fiscal Year 2018 Page 5 Cedar Hammock Community Development District General Fund Budget Narrative Fiscal Year 2018 REVENUES: Interest Income The District earns interest on the monthly average collected balance for their operating accounts,money market accounts and certificates of deposits. Special Assessments-Tax Collector The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year. Special Assessments-Discounts Per Section 197.162, Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount for the fiscal year is calculated at 4%of the anticipated Non-Ad Valorem assessments. EXPENDITURES: Administrative: Prof Service-Engineering The District's engineer will be providing general engineering services to the District, i.e., attendance and preparation for monthly board meetings,review invoices,etc. Prof Service-Legal Services The District's legal counsel will be providing general legal services to the District, i.e., attendance&preparation for monthly meetings,review operating&maintenance contracts, etc. Prof Service-Management Consulting Sery The District receives Management, Accounting and Administrative services as part of a Management Agreement with Severn Trent Environmental Services, Inc. These services are further outlined in Exhibit"A"of the Management Agreement. A 3%increase is proposed. Prof Service-Property Appraiser The Property Appraiser provides the District with a listing of the legal description of each property parcel within the District boundaries,and the names and addresses of the owners of such property. The District reimburses the Property Appraiser for necessary administrative costs incurred to provide this service. Per the Florida Statutes, administrative costs shall include,but not be limited to,those costs associated with personnel,forms,supplies,data processing, computer equipment,postage,and programming. The budget for property appraiser costs was based on 1.5%of gross assessments. Annual Operating Budget Fiscal Year 2018 Page 6 Cedar Hammock Community Development District General Fund Budget Narrative Fiscal Year 2018 Prof Service-Special Assessment The District's Collection Agent will be providing financials services which include the collection of prepaid assessments, maintenance of District's assessment roll and levying the annual operating and maintenance assessments. Prof Service—Web Site Maintenance Severn Trent Services maintains the District's email accounts & updates the web site information. A 3%increase is proposed. Auditing Services The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Finn. Postage and Freight Mailing of agenda packages,overnight deliveries,correspondence,etc. Insurance-General Liability The District's General Liability&Public Officials Liability Insurance policy is with The Florida League of Cities, Inc. The Florida League of Cities, Inc. specializes in providing insurance coverage to govermnental agencies. Printing&Binding Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary,envelopes etc. Legal Advertising The District is required to advertise various notices for monthly Board meetings,public hearings, etc. in a newspaper of general circulation. Misc-Bank Charges Bank analysis fees that are incurred during the year. Misc-Assessment Collection Costs The District reimburses the Tax Collector for necessary administrative costs. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District also compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted,whichever is greater. The budget for collection costs was based on a maximum of 2%of the anticipated assessment collections. Misc—Web Hosting The District incurs expenses to maintain and renew their website domain and email accounts. Annual Operating Budget Fiscal Year 2018 Page 7 Cedar Hammock Community Development District General Fund Budget Narrative Fiscal Year 2018 Office Supplies Miscellaneous office supplies required for the preparation of agenda packages. Annual District Filing Fee The District is required to pay an annual fee of$175 to the Dept of Economic Opportunity Div. Field Services; Prof Service—Field Management Severn Trent Services inspects the field and provides an annual report. A 3% increase is proposed. Contracts—Water Mgmt Services Professional services for environmental permit compliance. Currently all fees associated with the renewal of the Water Use Permit. Contracts-Water Quality Professional services in monitoring water quality for reporting to regulatory agencies. Utility—Cameras Comcast provides monitoring services for the District's gate cameras. Electricity-Wells FPL provides electrical services for the District's pumps at the following addresses: • 8684 Cedar Hammock Circle- Well#4 Meter KL35128 • 3639 Cedar Hammock Court—Well#6 Meter ACD4996 Electricity-Aerators FPI,provides electrical services for the District's pumps at the following addresses: • 3826 Wax Myrtle Run—Meter ACD4234 • 8892 Cedar Hammock Blvd—Meter ACD4976 • 3766 Buttonwood Way—Meter ACD8387 R&M-Lake Repair and maintenance expenses related to lakes including washout repairs and erosion. R&M—Plant Replacement Replace landscape plantings at pumps. Mise-Contingency Any current year Field expenditure that may not have been provided for in the budget. Annual Operating Budget Fiscal Year 2018 Page 8 Cedar Hammock Community Development District General Fund IMMO Budget Narrative Fiscal Year 2018 Capital Outlay Capital expenditures for items such as irrigation equipment or other items meeting capital expenditure requirements with a cost of at least$1,000 and a life expectancy of at least 3 years. Reserve-Brid2es Funds to be set aside for future bridge expenditures as determined by the BOS. Reserve-Bulkheads Funds to be set aside for future bulkhead expenditures as determined by the BOS. Reserve-Lakes Funds to be set aside for future lake expenditures as determined by the BOS. Reserve-Roadways Funds to be set aside for future roadway expenditures as determined by the BOS. Annual Operating Budget Fiscal Year 2018 Page 9 CEDAR HAMMOCK Community Development District General Fund Exhibit"A" Allocation of Fund Balances AVAILABLE FUNDS Amount Beginning Fund Balance-Fiscal Year 2018 $ 608,266 Net Change in Fund Balance-Fiscal Year 2018 - Reserves-Fiscal Year 2018 Additions 191,890 Total Funds Available(Estimated)-9/3012018 800,156 ALLOCATION OF AVAILABLE FUNDS Assigned Fund Balance Operating Reserve-First Quarter Operating Capital 43,617 (1) Reserves-Bridges FY 201,-2016 Reserve Funding 103,180 FY 2017 Reserve Funding 15,000 FY 2018 Reserve Funding 20,910 139,090 Reserves-Bulkheads FY 201 -2016 Reserve Funding 97,692 FY 2017 Reserve Funding (16,376) FY 2018 Reserve Funding 83,980 163,296 Reserves-Lakes FY 2011 -2016 Reserve Funding 14,995 FY 2017 Reserve Funding 14,558 FY 2018 Reserve Funding 15,000 44,553 Reserves-Roadways FY 2011 -2016 Reserve Funding 287,231 FY 2017 Reserve Funding (122,220) FY 2018 Reserve Funding 72,000 237,011 Subtotal 627,567 Total Allocation of Available Funds 627,567 Total Unassigned(undesignated)Cash $ 172,589 Notes (1)Represents approximately 3 months of operating expenditures Annual Operating Budget Fiscal Year 2018 Page 10 CEDAR HAMMOCK COMMUNITY DEVELOPMENT DISTRICT Supporting Budget Schedules Fiscal Year 2018 CEDAR HAMMOCK Community Development District 2017-2018 Assessment Chart O&M Assessment Percent Product Total Units FY 2018 FY 2017 Change Single Family 65 $ 475.00 $ 350.00 35.7% 2-Story 228 $ 475.00 $ 350.00 35.7% 4-Story 330 $ 475.00 $ 350.00 35.7% Duplex 176 $ 475.00 $ 350.00 35.7% 799 Annual Operating Budget Fiscal Year 2018 Page 11 RESOLUTION 2017-5 A RESOLUTION LEVYING AND IMPOSING A NON AI) VALOREM MAiNTENANCE AND BENEFIT SPECIAL ASSESSMENT FOR THE CEDAR HAMMOCK COMMUNITY DEVELOPMENT DISTRICT FOR FISCAL YEAR 2018 Preambk WHEREAS,the Cedar l lammock Community Development District owns certain improvements and facilities incurs costs or operation,repairs and maintenance;and WHEREAS,the Board of Supervisors of the Cedar Hammock Community Development District find that the District's total General Fund operation assessments, taking into consideration other revenue sources during Fiscal Year 2018,will amount to$_379,523 and WHEREAS, the Board of Supervisors of the Cedar Hammock Community Des ekipment District finds the District's Debt Service Fund Assessment during Fiscal Year 2018 will amount to SO;and WHEREAS,the Board of Supervisors of the Cedar Hammock Community Development District finds that the maintenance and benefit non-ad valorem special assessments it levies and imposes by this resolution for operations, repair and maintenance will reimburse the District for certain special and peculiar benefits received by the property subject to the assessment flowing from the operations, repair and maintenance of the systems, facilities and services provided by the District and are apportioned in a manner that is fair and reasonable,in accordance with the applicable assessment methodology;and WHEREAS, the District Board understands that this resolution levies the maintenance and benefit assessmenis iix 2017 and the Chair of the District, or his designee, the District Manager, shall certify a total non-ad valorem assessment roll in a timely manner to the Tax Collector in and for Collier County for collection to include all assessments levied and approved by the District. NOW, THEREFORE, BE IT RESOLVED) BY THE BOARD OF -SUPERVISORS OF THE CEDAR HAMMOCK COMMUNITY DEVELOPMENT DISTRICT OF COLLIER COUNTY,FLORIDA; Section 1. All the whereas clauses are incorporated herein and are dispositive. Sect ion 2. A special assessment for maintenance as provided for in Section 190.021(3), Florida Statutes, and a special assessment for the csercise of the District's powers as provided for in Section 190.02142), Florida Statutes thereinafter referred to as Assessments) are hereby levied on the platted lots within the District. Section 3. That the collection and enforcement of the aforesaid Assessments on platted lots shall be by the Tax Collector serving as agent of the State of Florida in Collier County (Tax Collector) and shall he at the same time and in like manner as ad valorem taxes and subject to all ad valorem tax collection and enforcement procedures which attend the use of the official annual tax notice. Section 4. The levy and imposition of the Assessments on platted lots included in the District will he certified as a total amount on the non-ad valorem assessment roll to the Collier County Tax Collector by the designee of the Chair of the Board on compatible medium no later than 15 September 2017, and shall then be collected by the Tax Collector on the tax notice along with other non- ad valorem assessments from other local governments and with all applicable property taxes to each platted parcel of property. Section 5. The proceeds therefrom shall be paid to the Cedar Hammock Community Development District. Section 6. The Chair of the Board of the Cedar Hammock Community Development District designates the District Manager to perform the certification duties. Section 7. Be it further resolved, that a copy of this Resolution be transmitted to the proper public officials so that its purpose and effect may be carried out in accordance with law. PASSED AND ADOPTED this 15th day of May, 2017, by the Board of Supervisors of the Cedar l lammock Community Development District,Collier County, Florida. 1,,QA . 7, Bob Koncar Tom Cook Secretary Chairman X7/ 4 27 ` ‘d -yrr _ r Table 1 RS5.15 I RESERVE STUDY PROPOSED CHANGES (thousands 5) CDD Board Basema)tom Boson. 2017 , 2018„ 2019 2020 2021 2022 Approve It ..r 1 75 HP Pumps Rebuild Master $20.5 $21.0 $21.5 $22.1 $22.7 $23.2 •—2 Pump Controls Fepair Master $11.8 —3 Pumphouse pain! Master $1.5 4 Landscapiing Master $3.6 $3.7 $3.6 $3.9 $4.0 $4.1 5 Aerators Ineffective —6 Fountains Master $42.5 l7 Bulkhead#16+17 Retime $0.0 >5288.0 IILL__ . 8 Bulkhead#4+5 Retlme $576.0 ---------- $0.0 1eo►+r Rear Gate Camera Eliminate 25 10 'paving Buttonwood Retime $0.0 -- 1► $108.0 11 paving CH Court Retime $0.0 -�$49.0 12 paving CH Blvd Retime $0.0 ----3j$252.0 13 sidewalk repair Retime $0.0 )$37.6 • 14 Street Signs Master'27 15 Radar Signs Master 23 `16 Storm Drains repair Retime $0.0 ).$44.2 17 Cart Bridges re{:air Retime 11 1 CEDAR HAMMOCK COMMUNITY UEVP.LOPMEN'T DISTRICT Loan Summary Bulkhead Repair Project May 1,2017 Loan Terms Valley It ntitrnal Bank Valley National Bank Jefferson Bank Jefferson Bank CenterState Bank CenterState Bank 5 year IO year 5 year 10 year 5year IO year Loan Amount: $1.i in Ilion $1.5 million 61,5 million $1.5 million $1.5 million 51.5 million Interest Rate: Fixed Fixed Fixed Fixed Fixed Fixed Current Interest Rate: 3.00"v 3.37/ 3.40%• 3.4%(5) 2.92% 3.12% Prepayment Fee. koro None None None Yield Premium(7) Yield Premium(7) Monthly Interest and Principal Monthly Interest and Principal Monthly Interest payment until)Monthly Interest payment untill Monthly Interest and Principal Monthly Interest and Principal Repayment: Payments-ssvd on drawn Payments based on drawn full draw dowr.(up to 12 full draw down(up to 12 Payments based on drawn Payments based on drawn tens um amount months)then pcncipal and months)then principal and amount amount interest payments for 4 years interest payments for 4 years Fees:(t) 519,210 $19,220 $7,500(4) $7,500(4) $3,750(4) $3,750(4) Annual Debt Service $3;3,437 $176,901 5402,090 $193,500(6) $323,124 $175,164 Payments:(2) Estimated Assessment c 4111 $220 $524 $242 $417 $217 Increase:(3) Notes (I)Bank cost only. Does not include the cost for the District's legal review. (2)Annual debt service payments are based ora total lour amount of S1.5 mm with equal semi-annual payments Other amortization schedules can be negotiated with bank. (3)Estimated increase is subject to change and needs to he verified by the'assessment department prior to final set increase. Increase based from FY 201'7 assessment of$350 per unit. (This is not including the proposed$125 assessment increase) (4)Closing cost stated,plus lender a ornr y fees(no es mated cost given). (5)Interest rate far rst 5 years;Then one me adjustment to Tax-free equivalent rate of the then 5 year U;treasury index phis 3.00%for the remaining 5 years. (6)Annual Debt Sendce payment subject to change based on interest rate change in note 5. (7)Yield Premium.If interest rates are higher,no interest penalty.If rates are lower,the di erence in the interest rate for the remaining years will need to be paid. Bridging Solutions,LLC BRIDGING 15863 Secoya Reserve Circlet;' Naples,11.34110 M SOLUTIONS Tel.(239)216-1370 rslplya hridging-solutions_com w v,v.brideinc-solutions.com March 22, 2017 Justin Faircloth, Assistant District Manager Cedar Hammock Community Development District(CDD) c/o Severn.Trent Management Services 5911 Country Lakes Dr. Ft. Myers, FL 33905 RE: Change Order Proposal#lA for: Final Design Services for Wall Replacement Cedar Hammock Golf Course Holes#4,#5,#16&#17 Collier County, Florida Dear Mr. Faircloth: Bridging Solutions, LLC appreciates the opportunity to submit this proposal to provide engineering services based on our telephone conversation on March 17, 2017. This proposal provides a scope of services and fee for a change in scope to our current agreement dated December 20, 2016, The scope of services includes preparing design plans for new timber sea walls at golf course holes#4,#5,#16 and#17. 1. SCOPE OF SERVICES 1.1. Perform a follow up inspection of the walls at holes #4 and 5 to update our inspection documentation prepared during past inspections. 1.2. Perform coordination with Garland & Garland to document the preferred materials, means and methods for the proposed timber soldier pile retaining wall. A copy of a sketch of the proposed timber sea wall is attached to this proposal. 1.3. Perform a topographic survey in the vicinity of the walls at holes#4 and#5. Prepare mapping in AutoCAD format that extends the full length of wall and 50 feet on each side of the wall. We propose to have the CDD Board hire Banks Engineering for this work. Develop existing ground cross sections using the AutoCAD surface model at 25 foot intervals along the wall. Establish a horizontal control stationed base line on the drawings with ties to field control for use by the contractor during construction. 1.4. Review the survey sections prepared by Banks Engineering to determine the maximum design height and slope conditions of the design of the proposed timber walls at holes #4, #5, #16 and #17 assuming the new wall would be constructed 3 feet in front of the face of the existing walls. 1.5. Perform structural design calculations for the four (4) walls to determine the minimum depth of embedment for the soldier piles,the sizes of the timber elements and the service load design forces for the proposed auger type dead man anchors.The design criteria will assume a soil friction angle of 30 degrees and a soil density of 110 PCF for the design of the walls. We design bridges to fit your site and budget. z BRIDGING mij SOLUTIONS 1.6. Prepare engineering drawings of the proposed four(4) walls with specifications in the form of notes on the drawings. 1.7. Submit the drawings and specifications to Garland & Garland for pricing of each wall. Provide responses to questions from Garland & Garland. Review the price proposal and attend one CDD Board meeting to review the wall design and pricing. 2. COMPENSATION Bridging Solutions proposes to provide the above described services for a lump sum fee of$28,756. The attached proposal back-up form provides a detailed breakdown of the fee. This fee breakdown will be used to determine monthly progress billing amounts. 3. AGREEMENT TERMS If the above conditions are acceptable this proposal can become contractual by signing and dating below. This change order is subject to the terms and conditions in our current agreement dated December 20,2016. Thank you for your consideration of this proposal. Please contact me at 239-216-1370 if you have any questions. Respectfully, BRIDGING SOLUTIONS,LLC Ralph Verrastro,PE Principal Accepted this day of 1 '( ,2017 By: Aun-04 Signature Printed or Typed Iitle: C1-1al2IA&!`1 tLbl,, _ KANkt cku. �� ) 2 We design bridges to fit your site and budget. a., E - -,.. a S — Z. a) , c 'S c as EE -. O g a> 3 X II (U .6 5 S __. ..x — oliit:\ 0 ,.0 w . _I w E g I ____._ g i E " I g g 1.E) P. i ;1' X 4"-= li 20 0 .?z S Xit 1 .0 io .:..-' IL _ aso:. --1.-•. __ Min--6- _ ----] I `b 1 - _ 1 .?,.. 00 zif... 0. o_ I a) 0 t'o "ii b •fr, 2 ;4. -f'i b 12 -0 o > a) av -c 1 C o .2) -0 , z 1 E. c .c $ 0 So I M 1 .ct ce 0 t 4-- - '•-•-,' , 4... 2 au .*. . .... ,, coo, N---.7` •',--...,.. Z.S 'zt d . M M N O N N h NU >0 11. 9 9 O — N CL r c. r H y l' M ~ EA 0) EA EA 69 EA EA EA EA EA EA EA EA A A A EA 69 A EA EA A EA EA EA a € a v y c a� t n Y n ui m m a W dO UoE7 dG L m O o. x W <A _ EO Efl m i 0 ' O ' • i ' ' i i ' 0 M M N N N V o O N co N J 2 CA 'A EA EA EA 69 EA 6`1 EA EA EA EA EA EA b9 VT EA V3 EA EA EA EA (A N CO N 0 O N CJ I-o O LA Q U '- 0 0 0 O 0 0 O co,N 0 O o N to O n O 2 X a cED 0 C 0 u 2 - m o c Tg c rno w_E rnw mo s—0. w p o iA u-,d 3 O — 0 d Co o 0'o !ii'a w v a- VJ C) a a o 00 S .ti of c W EA a 0 C O O , O N C W'''' US •. d' N Co CO S O `a ti M O O 0 a0 C.:: .A Cn — 0 -6g o a,,; V C G U) Qf C ( 0 y U F ry �_ �_ O (0 O. N H u f.., L U ro (n LL12 d) a9 N L Z C d N C C. C `7 N -O C Y = ti Q 2 $ = ( (0 Q ON QIHP L01 0C CO OO N mNatC T V u.. aO a cU A5 J m 0 N C N ; FzO m d = U 'O E 7-3 3 W v,) py@ 0 " 3 W S U O 0 (n (I) lof3 1640 Benchmark Avenue,Fort Myers, FL 33905 Ph:239-334-6760 Fax:239-334-6553 Website:httpi/pmioffortmyers.corn PROPOSAL AND CONTRACT May 10, 2017 To: Cedar Hammock CDD C/O Severn Trent Services 5911 Country lakes Drive Fort Myers, Florida 33905 Pavement Maintenance, LLC., hereinafter called the Company, offers to furnish all labor and equipment required for the performance of the following described work in connection with construction of improvements at CEDAR HAMMOCK CDD Description of Work and Price: Quantity Description Q v Unit Price Total MILLING & RESURFACING Using a Wirtgen milling machine, grind the existing asphalt to a depth of 1 1/2 inches and dispose of off- site. Inspect, grade, and compact the underlying base-rock to attain proper cross-slope(minimum 1.5%), and the required density for paving. Apply Special MS prime as per industry standards, (.10 gallons per square yard). Using power brooms and blowers, thoroughly clean the primed surface free of the sand screenings, remaining debris, moisture, or vegetation just prior to the paving operation. Import& Install Type S-III asphalt to finished compacted thickness of 1.5" Re-stripe as per the existing layout Cedar Hammock Circle 1.00 LS $115,557.75 Sawgrass Way 1.00 LS $78,662.50 MASTER ASSOCIATION: SG Pool-West 1.00 LS $2,405.55 SAWGRASS Terrace 3 1.00 LS $3,848.88 Terrace 4 1.00 LS $6,575.17 Terrace 5 1.00 LS $6,094.06 Terace 6 1.00 LS $6,252.40 ..rA ....A,s CV..01-47 ,. R�.'`4)4, a :''. 2of3 40111 4.704, patittil4:47 4,0 *491,1114 CH CIRCLE Veranda 1 1.00 LS $4,811.10 Veranda 2 1.00 LS $5,612.95 Terrace 1 1.00 LS $4,811.10 Terrace 2 1.00 LS $2,740.50 TOTAL $238,509.56 Note : Pricing includes Bid Bond & Performance REMOVE & REPLACE CONCRETE CAR STOPS Remove the existing deteriorated Concrete Car Stop and dispose of off-site. Import and install new one sided Concrete Car Stops with new Pins. EA $75.00 Notes:Not responsible for private utilities not located by the respective owner. New asphalt surfaces may scuff under vehicle turns. This is a natural occurrence with flexible pavements,especially under warm ambient temperatures. Scuffing is not harmful to the structural + it. of the and should, occurs, blend with time integrity a��e driving surface, ifit away Although reasonable care will be given, Pavement Maintenance, LLC is not responsible for damage to existing trees or other landscaping resulting from asphalt paving activities. PMI cannot guarantee positive drainage on base courses prepared by others or overlays of existing conditions. PMI will not be responsible for positive drainage in areas with less than 1.5%slope. Pavement Maintenance, LLC will provide a one(1)year warranty on workmanship and materials beginning the final day of the project. This proposal is limited to the items of work referenced above. No other items are included or implied. This proposal becomes part of the contract documents. Unit price above are based on normal working hours and does not include working at night. ( please int.) Exclusions: Permits&Impact Fees Lane Rental Fee in ROW(If Applicable) Testing Survey,Layout,As-Builts Erosion Control ( please int.) Unless a lump sum price is to be paid for the foregoing work and is clearly so stated it is understood and agreed that the quantities referred to above are estimates only and that payment shall be made at the stated unit prices on the actual quantities of work performed by the Company and determined upon completion of the work. OAINTENA, 3of3 If the foregoing meets with your acceptance, kindly sign and return the attached copy of our proposal. Upon its receipt it is understood and the foregoing, including the terms and conditions set forth on the following pages, will constitute the full and complete agreement between us. This proposal expires thirty(30)days from the date hereof, but may be accepted at any later date at the sole option of the Company. ACCEPTED: Respectfully Submitted. — C H b (Firm Name) Todd Weber Pavement Maintenance, LLC (Signature) (/�� c3N.�aS b. \ K C4-1A1RKAc.I CI-1 L' (Printed Name and Title) M k"( 11 Zo1 -7 May 10, 2017 (Date) (Date) (i) c 2 0 T- T,. a) - c co E _ E V � a) co `o .61 O N • X a O Q) ta TN \ (a E N E l FA 1 7--_ I i\I NO N ; tn E E 3 c m c ca; .G m g 1 o e i ; X c — r.).. o d X 1 a—. I �' —_ 1\ o _ — c �i i 2 3-g 0.00.00e0„, .00a0 > — -- — _. k go 0 0000 p6.0 00 o0M°0o0 o%00n 0 O poop •O 0 00-0 pICOMME91 IN crcs:\\\\\\\,,, Vil 1 if 1 1_ _ _ 1L xoadde-_— —, �O co Q _ ao } 1 1 1 I I X X 1 in B 3 'v 1 b c I aa) 3 v .@ c cu > 0) C 'O 0 c o Q c CCC)13 i i > i } 'I ca > I � v n co i0 / / / / / 0 / / z k E 0 \ / 0vt \ / 2 % \ S ? 7 2 % 2 \ G $ & 7 ®Q z q o 2 2 2 f 0 0 0 2 0 % o - 9 0 o o o \ 9 @ R \ @ a k \ » e G m m & & G m G& O ma % O E \ / \ / \ \ \ D \ / Z o ._ 2 2 o ƒ ƒ ƒ ƒ o o O ƒ O ƒ w § 1 / f « < k \ ± \ 4 ■ A CO o \ 2 § @ I o 7 3 7 / 3w I- .0 v o m o 0 o a « CO « & n w w # o r w n N- •:1' CO m a # n e = 5 = # e # # q ) I ccm 2 2 3 g CO % % 2 $ / n / co « m • = u e m = am @m03 C \ \ / E 2 = 9 0 _ \ r § I = e § @ = A « ƒ\ � 3 o) / E E q % \ / 27 / a \ # » � sE � & J 2 O j O E > _ 5 2 k / / / / / $ f 41 cn / - \ _ CC \ } \ as \ x cc \ \ \ \ 2« g n o @ _ d @ ƒ 0 i \ / / / > © > > \ \ Florida Reserve Study and Appraisal,Inc. 12407 N. Florida Avenue Tampa, FL 33612 Phone: 813.932.1588 Fax: 813.388.4189 www.reservestudyfl.com Funding Reserve Analysis !or Cedar Hammock CDD May 2,2017 Itfiktto } h N<1 } a; •Hammock a j Tuesday, May 2,2017 Page 1 of 49 Pages Funding Reserve Analysis for Cedar Hammock CDD Table of Contents Pages Subject 1 •• Report Cover Sheet 2 •• Table of Contents 3 to 20 •• Reserve Study Summary 21 to 23 •• Reserve Item Summary 24 to 30 •• Reserve Item Listing 31 to 32 •• Present Cost Report 33 •• Cash Flow 34 to 35 •• Assessment Summary 36 to 41 •• Expense Report 42 to 49 •• Expense Summary Tuesday, May 2,2017 Page 2 of 49 Pages Florida Reserve Study and Appraisal,Inc. 12407 N. Florida Avenue Tampa, FL 33612 Phone: 813.932.1588 Fax: 813.388.4189 www.reservestudyfl.com May 2, 2017 Cedar Hammock CDD 8660 Cedar Hammock Blvd Naples, FL 34112 Board of Directors, We are pleased to present to Cedar Hammock CDD the requested Reserve Funding study. We believe that you will find the attached study to be thorough and complete. After you have had an opportunity to review the report you may have questions. Please do not hesitate to write or call, we would be pleased to answer any questions you may have. Project Description Cedar Hammock Community Development District("Cedar Hammock CDD or"District")is an independent taxing district created and existing under Chapter 190 of the Florida Statutes. Cedar Hammock CDD commenced operations in November 1999. Cedar Hammock is comprised of 799 units which consist of single family homes and multi family homes. The community started construction in 2000 and home construction was completed in 2004. The CDD consists of 417.32 acres and is located in Naples,Collier County,Florida. Date of Physical Inspection The subject property was physically inspected on April 5 and April 26,2017 by Paul Gallizzi and Steven Swartz. Study Start and Study End This Reserve Study encompasses the 2017-2018 fiscal year plus 30 years. The Study Start Date is October 1,2017 and the study ends on September 30,2048. Governing Documents A review was made of aerials and subdivision plats for the subject property. Depth of Study Full Service Reserve Study with Field Inspection A field inspection was made to verify the existing condition of the various reserve study components, their physical condition,and to verify component quantities. In place testing,laboratory testing,and non-destructive testing of the reserve study Tuesday, May 2,2017 Page 3 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Funding Study Summary-Continued components were not performed. Field measurements of component quantities were made to either verify improvement plan take offs or determine directly the quantities of various components. Photographs were taken of the site improvements. Summary of Financial Assumptions The below table contains a partial summary of information provided by Cedar Hammock CDD for the Cedar Hammock CDD funding study. For the purpose of this report,an annual operating budget was set to$0,as this report focuses only on reserve items. Fiscal Calendar Year Begins October 1 Reserve Study by Fiscal Calendar Year Starting October 1, 2017 Funding Study Length 30 Years Number of Assessment Paying Owners 799 Reserve Balance as of October 1, 2017' $637,286 Annual Inflation Rate 2.50% Tax Rate on Reserve Interest 0.00% Mininrurn Reserve Account Balance $0 Assessment Change Period 1 Year Annual Operating Budget $0 I See"Financial Condition of District"in this report. Recommended Payment Schedule The below table contains the recommended schedule of payments for the next six years. The projected life expectancy of the major components and the funding needs of the reserves of the District are based upon the District performing appropriate routine and preventative maintenance for each major component. Failure to perform such maintenance can negatively impact the remaining useful life of the major components and can dramatically increase the funding needs of the reserves of the District. Proposed Assessments Fiscal Owner Total District Proposed Calendar Annual Annual Reserve Year Assessment Assessment Reserve 2017 $303 $241,900 $564,217 2018 $310 $247,948 $686,623 2019 $318 $254,146 $837,475 2020 $326 $260,500 $744,724 2021 $334 $267,012 $782,141 2022 $343 $273,688 $348,749 Tuesday, May 2,2017 Page 4 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD FundinR Study Summary-Continued Annual Reserve Payments have been manually modified. Payments have been modified to smooth payments over time. Fiscal Year beginning October I,2017 Reserve Study Assumptions • Cost estimates and financial information are accurate and current. • No unforeseen circumstances will cause a significant reduction of reserves. • Sufficient comprehensive property insurance exists to protect from insurable risks. • The District plans to continue to maintain the existing common areas and amenities. • Reserve payments occur at the end of every calendar month. • Expenses occur throughout the year,as services are provided. Impact of Component Life The projected life expectancy of the major components and the reserve funding needs of the District are closely tied. Performing the appropriate routine maintenance for each major component generally increases the component useful life,effectively moving the component expense into the future which reduces the reserve funding payments of the District. Failure to perform such maintenance can shorten the remaining useful life of the major components,bringing the replacement expense closer to the present which increases the reserve funding payments of the District, Also,some reserves items may have the phrase allowance after it. These reserve items are something that would not be fully replaced at one time,but a small portion may have to be replaced periodically. Inflation Estimate Inflation has been estimated at 2.50 percent over the course of the study. Initial Reserves As of March 31,2017,there was$831,506 set aside for reserves. This number does not include operating reserves. The projected reserve balance on October 1,2017 will be$637,286,which deducts the cost for the roadway project. These numbers were obtained from the District on the official March 2017 balance sheet and the annual budget. October 1,2017 starts the next fiscal year. September 30,2018 marks the end of the fiscal year. Financial Condition of District The pooled method with inflation reserve projections estimate$302.75 per owner per year in fiscal year 2017-2018 and$241,900 in total funding. At the current time,the District is considered to be 33 percent funded. This represents a fairly- funded status. The higher the percent funded,the more likely a District is to avoid a special assessment. The following are general measures to the health of a District based on the percent funding model: Tuesday. May 2,2017 Page 5 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock COD Funding Study Sununary-Continued 0-30%funded: poorly funded 30-70%funded: fairly funded 70-100%funded: well funded 100+%funded: very well funded Special Assessments No reserve items will require special assessments if the funding schedule is followed.However, funding less than the suggested amounts will likely result in special assessments or for the replacement of an item to be delayed. Reserve Funding Goal The reserve fund is set to be as close to Fully Funded as possible on an annual basis. Study Method Funding studies may be done in several ways,but we believe that the value of a funding study lies in the details. "Bulk" studies are quick,usually inexpensive,and almost always border on worthless. We believe that meaningful answers to funding studies lie in the details. This approach is pragmatic,and allows human judgment and experience to enter into the equation. Unless noted otherwise,the present cost of every reserve item in this report has been estimated using the "National Construction Estimator",a nationally recognized standard,and modified by an area cost adjustment factor.Where possible,known costs have been used. In addition,every reserve item has been given an estimated remaining useful life,an estimated useful life when new,and has been cast into the future to determine the inflated cost. Equal annual payments are calculated for each reserve item based upon a payment starting year and a payment ending year using the end of period payment method. Interest earned on accumulated reserve funds and taxes on the reserve interest are also calculated. Initial reserve funds are consumed as expenses occur until fully depleted,reducing annual reserve payments to a minimum. As you review this report,we are certain that you will appreciate the level of detail provided,allowing you to review each reserve item in detail. Tuesday, May 2, 2017 Page 6 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDI)Funding Study Summary-Continued Summary of Findings We have estimated future projected expenses for Cedar Hammock CDD based upon preservation of existing improvements. The attached funding study is limited in scope to those expense items listed in the attached "Cedar Hammock CDD Reserve Study Expense Items". Expense items which have an expected life of more than 30 Years are not included in this reserve study unless payment for these long lived items overlaps the 30 Years reserve study envelope. Of primary concern is the preservation of a positive funding balance with funds sufficient to meet projected expenses throughout the study life. Based upon the attached funding study,it is our professional opinion that owner monthly fees as shown in the attached "Cedar Hammock CDD Assessment Summary" will realize this goal. Some reserve items in the"Revenue Summary Table" may not contain payments. In this analysis the initial reserves were used to make annual payments for expense items in their order of occurrence until the initial reserve was consumed. As a result reserve items without payments may be expected,particularly in the first few years of the funding study. Reserve items that have been paid with initial reserve funds are identified with a[FP] in the Expense Items Sheets. An item marked[PR] is partially paid with initial reserve funds. Cedar Hammock CDD represents and warrants that the information provided to us,including but not limited to that information contained in the attached Reserve Study Information Summary,that the maintenance records are complete and accurate,and that we may rely upon such information and documents without further verification or corroboration.Where the age of a particular Reserve Item(as listed in the Reserve Study)is unknown,Cedar Hammock CDD shall provide to us Cedar Hammock CDD's best-estimated age of that item. If Cedar Hammock CDD is unable to provide and estimate of a Reserve Item's age,we shall make our own estimate of age of the Reserve Item. The Reserve Study is created for the District's use,and is a reflection of information provided to us. This information is not for the purpose of performing an audit,historical records,quality or forensic analyses. Any on site inspection is not considered to be a project audit or quality inspection. The actual or projected total presented in the reserve study is based upon information provided and was not audited. Percent Funded Many reserve studies use the concept of"Percent Funded" to measure the reserve account balance against a theoretically perfect value. Percent Funded is often used as a measure of the "Financial Health" of a District. The assumption is,the higher the percentage,the greater the"Financial Health". We believe the basic premise of"Fully Funded"is sound,but we also believe that the validity of the Fully Funded value must be used with caution. To answer the question,some understanding of Percent Funded is required. Fully Funded is the sum of the depreciation of all the components by year. To get the Percent Funded,divide the year end reserve balance by the Fully Funded value and multiply by 100 to get a percentage. The concept of Fully Funded is useful when the reserve study is comprehensive,but misleading when the reserve study is superficial or constrained. As a result,we recommend that the statement"Percent Funded" be used with caution. Tuesday, May 2,2017 Page 7 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Funding Study Summary-Continued Keeping Your Reserve Study Current We believe that funding studies are an essential part of property management.People and property are constantly changing and evolving.As a result,the useful life of a funding study is at best a few years, and certainly not more than five years.This reserve study should be updated: • At least once every few years • At changes in the number of assessment paying owners • Before starting new improvements • Before making changes to the property • After a flood or fire • After the change of ownership or management • After Annexation or Incorporation Items Beyond the Scope of this Report • Building or land appraisals for any purpose. • State or local zoning ordinance violations. • Building code violations. • Soils conditions,soils contamination or geological stability of site. • Engineering analysis or structural stability of site. • Air quality,asbestos,electromagnetic radiation,formaldehyde,lead,mercury,radon,water quality or other environmental hazards. • Invasions by pests,termites and any or all other destroying organisms,insects,birds,bats or animals to buildings or site. This study is not a pest inspection. • Adequacy or efficiency of any system or component on site. • Specifically excluded reserve items. • Septic systems and septic tanks. • Buried or concealed portions of swimming pools,pool liners,Jacuzzis and spas or similar items. • Items concealed by signs,carpets or other things are also excluded from this study. • Missing or omitted information supplied by the Cedar Hammock CDD for the purposes of reserve study preparation. • Hidden improvements such as sewer lines,water lines,irrigation lines or other buried or concealed items. Stormwater Drainage Notes Cedar Hammock CDD has a large land area of 417.32 acres comprised of 799 units. The drainage for the community is comprised of inlets,drainage pipes,and retention ponds. The ponds have been constructed to engineering standards that include proper slopes and shore line stabilization which includes erosion protection and approved backfill materials such as soils with a high clay content covered within 2 inches of sand. Tuesday, May 2,2017 Page 8 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Funding Study Summary-Continued The entire residential area including all roads and open areas have a complete drainage system. Overall, there are 85 curb inlets,45 grate inlets, 8 manholes,5 control structures,50 flared end sections,and 3 mitered end sections. Additionally,there is 12,567 feet of reinforced concrete piping ranging in size from an 15 inch diameter to a 42 inch diameter. Cedar Hammock Storm Water Pipes Concrete: Diameter Length Cost/LF Amount 15" 1722' 48.00 $ 82,656 18" 4132' 60.00 $247,920 24" 3750' 84.00 S315,000 30" 1560' 108.00 $168,480 36" 759' 132.00 $100,188 42" 630' 1.56.00 $ 98,280 Other Drainage: Curb Inlets 85 @3500= $297,500 Grate Inlets 45@3000= $135,000 Manholes 8@2650= $ 21,200 Mitered End Sections 3@l800= $ 5,400 Flared End Sections 50@ 1800= $ 90,000 Grand Total $1,561,624 In general, the drainage system including drainage structures and drainage pipes have a long lifespan. These improvements,however,may encounter problems from natural causes such as settlement or tree roots and man made causes such as excavations or poor original design or poor construction. It has therefore been deemed necessary to set up a reserve for repair and replacement of the District-owned drainage improvements. For the purpose of this reserve study,it is our opinion that 2.5 percent of the original system cost should he set aside for reserves over a 5 year period, which would result in a reserve over that time of $39,000. These reserves can also be used for deferred maintenance of the storm drainage system,as some minor problems may occur at various times. The amounts shown in this reserve study should be analyzed and adjusted in future reserve studies based upon actual District expenditures for such items. Tuesday, May 2,2017 Page 9 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Funding Study Summary-Continued Bulkhead Notes Cedar Hammock has used bulkheads to stabilize their pond banks and golf course islands in some areas. The bulkheads are wooden timbers,as low as 4 feet in height and up to 10 feet in height. The District has planned for replacement of the bulkheads on holes 16 and 17 for$280,000 in 2018. The remaining bulkheads are considered to be in better condition and there estimated replacement is estimated to be in about 5 years. The bulkheads have an expected lifespan of 25 years when new. Proper maintenance of the bulkheads is essential in achieving its expected life. Proper maintenance includes routine power washing and applying a wood sealant on the bulkheads. Golf Course Bridge Notes There are 8 golf cart bridge which cross a lake or wetlands area through the community. The bridges are approximately 18 years old and appear to be in average condition. Overall,there are 13,870 SF of golf cart bridges. The deck boards on the bridges have been preserved by running some pieces of wood along the length of the bridge to act as a guide path. This has cut down the wear on the deck boards and extended their lifespan. We have estimated the replacement cost of the bridges to be$60 per square foot,which would result in a total cost of$832,200. The bridges should have a remaining life of approximately 10-12 years. Irrigation Notes The community has a development wide irrigation system that irrigates all common areas and all individual homes. The irrigation system is complex and effective. The CDD is not responsible for golf course irrigation. Irrigation water is pumped from the irregularly shaped lake located north of the recreation complex in the northwest portion of the development. In addition,there are 18 other small lakes or ponds in the community. The ponds are interconnected to each other and overall water levels remain constant among them. The lakes and ponds are an integral part of the community's storm water management system and receive storm water from the community. Water levels are maintained by storm water. The lakes and ponds collectively are a reservoir for the irrigation system. The pumping station for the irrigation system is located immediately west of the recreation area. The pumping station consists of five 75 HP pumps and Flowtronex control panels. The station also includes chemical tanks with metering and a pump which is used to add fertilizer and pesticides to the irrigation water. There are a total of approximately 5 controllers and 40 zones. Irrigation piping throughout the development is sized for its water volume requirements. Piping near the pump station is 8" PVC. Where the piping branches,the pipe size is reduced to 6",then 4". The underground piping is in good condition and has an indefinite life. Tuesday, May 2,2017 Page 10 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammack COD Funding Study Summary-Continued The main pumping stations and its components are adequately maintained and are reported to be in good condition. Each year,one of the 75 HP pumps is rebuilt at a cost of about$20,000. The wiring for the system is also reported to be in good condition. Valves are replaced as necessary. Landscaping Notes In general,landscaping of shrubs has about an 8-year life. However,certain areas and shrubs and grass may need to be replaced at different times due to varying conditions,such as proper accessibility to irrigation,original design,precise location,and the weather. It is not likely that multiple areas will need to be replaced at the exact same time. The landscaping is mature and well-maintained. As a result,we think that a partial replacement would be more appropriate. The estimated replacement cost of a yearly partial landscape replacement is$3,500. This number can be adjusted in future reserve planning if necessary. Paving Notes Asphalt paved roads have a varying expected life from approximately 15 years to 30 years. It is typical to assume an expected life of 20 years in the District. As roads age, this physical condition can be evaluated and the expected remaining life of the roads can be re-evaluated. Small road repairs can be handled from the operating budget. Cedar Hammock CDD has roads in various conditions. The District has taken a segmented approach to replacing roads. Wax Myrtle Run and Cordgrass Way were resurfaced a few years ago. Cedar Hammock Circle and part of Sawgrass Way will be resurfaced in the next month and the work will be complete before the next fiscal year. We project the remaining roads will be resurfaced in the following schedule: Sawgrass Way and Buttonwood Circle in 2018-2019,Cedar Hammock Ct in 2019-2020,and Cedar Hammock Blvd in 2020-2021. Pond Banks Notes Drainage ponds require routine and non-routine maintenance.Routine maintenance includes mowing debris removal and catch basin cleaning. Mowing on a regular basis enhances the aesthetics of the area as well as helping to prevent erosion.Proper mowing of the banks helps the ground cover maintain a healthy root system,which minimizes erosion.Trash,debris,and litter removal reduces obstructions to inlets and outlets allow the storm water system to function as designed.Cleaning catch basins is also considered routine maintenance.For the purpose of this reserve study,the cost of routine maintenance is not a reserve item. Non-routine maintenance is a reserve item.Non-routine maintenance includes bank erosion and stabilization,sediment removal,and structural repairs and replacement.From time to time,some of these ponds may encounter erosion of their banks and require repairs. All ponds react differently due to original construction,slope of the bank,soil or environmental conditions,and other factors. Tuesday, May 2,2017 Page 11 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Funding.Study Summary-Continued In Cedar Hammock,there are 19 retention ponds for stormwater drainage. These ponds are estimated to have 44,133 linear feet of shoreline area and 73.6 acres of total area. During the site inspection,we observed most shorelines in good condition and a few spots of minor erosion. It is not likely that all of the shoreline area will erode and need to be replaced. We have estimated that approximately 5 percent of the shoreline will erode and need refurbishment over a 5 year period. An erosion control reserve for repair of ponds is necessary for the proper upkeep in the District.This number can be adjusted in future reserve planning if necessary. Sidewalk Notes Most of the sidewalk has an indefinite life. However,certain small sections may need maintenance or to be replaced due to problems such as tree roots uprooting the sidewalk. It is our estimate that 5 percent of the cost new of the sidewalk be set aside over a 5-year period to reserve for these repairs. There is approximately 136,100 SF of sidewalk on the District grounds. The estimated replacement cost new is approximately$680,500, which would result in a sidewalk repair reserve of$34,000 over a 5-year period. Statement of Qualifications Paul Gallizzi and Steven Swartz are professionals in the business of preparing reserve studies and insurance appraisals for community associations. We have provided detailed analysis of over 300,000 apartment,villa, townhome,and condominium units. We have prepared insurance appraisals and reserve studies for all types of community associations including high rise condominiums,mid- rise condominiums,garden-style condominiums,townhouse developments,single family homeowners associations,etc. We both hold engineering degrees from fully accredited universities. Paul Gallizzi is a State Certified General Real Estate Appraiser License Number RZ 110 and a State Certified General Contractor License Number CGC 019465. Steven Swartz is a designated Reserve Specialist, RS No.214,from the Community Associations Institute as well as a State Certified General Real Estate Appraiser Liccnse Number RZ 3479. Conflict of Interest As the preparers of this reserve study,we certify that we do not have any vested interests,financial interests,or other interests that would cause a conflict of interest in the preparation of this reserve study. We would like to thank Cedar Hammock CDD for the opportunity to be of service in the preparation of the attached Funding Study. Again,please feel free to write or call at our letterhead address, if you have any questions. Tuesday, May 2, 2017 Page 12 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CUL)landing Study Summary-Continued Prepared by: � Paul Gallizzi Steven M. Swartz, RS Enclosures: 7 Pages of Photographs Attached Tuesday, May 2,2017 Page 13 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hanunoc> CDD Fending Steffy Sununar -Coatli nea b �L- - .40 q Pier Pier r Asa 4rsn ^baa ' q SCS' -- — uu - � ^ l �i ` ` - �� , * A;$.-'f-.g" ;, -.A%-.":1'.% w f s ss. a..£• 4,• ._..-„t,,,, -^�, ,.._, msa.,.e. Carl Bridge Hole 4 Cart Bridge I tole 4 ," .f .aw�J ", *.,� s� • r ire q .. - a m x syr , bs dA - ' ` zr& 7 yam, Cart Bridge Hole 5 Cart Bridge Hole 10 Tuesday, May 2,2017 Page 14 of 49 Pages Prepared fi3 Florida Reserve Study acrd Appraisal Cedar!k,nenock CDD Funding Study S�enanary-Continued , , 3 14 ,, ; ,, --,,o,-4t,o.-.g1,t-A,,4i„,-.14---:..i„d-,k,„,,-,,,..,-a,i'-- —3'"'- �- °� Vim'' M Cart Bridge Hole 18 Irrigati,_,,,, on Pumphouse .41 00 400, W ,..” *oar - - „, 4 hT µh ,...,,, . Ar It II - ,144Po 9 n Irrigation Pumps InigutiunConlrol Panel .,. ., ,,,,,i , , i , r . f d Irrigation Well Landscaping Tuesday, May 2,2017 Page 15 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hantntock CDD Hurtding Study Sunnrmty•Continued 3t d ...s'§'''•4:','.",-‘:''''''''t' �d _moi ... 1 Main Entrance Main Entrance Barrier Arm 4, At4V.45' ilikil —4'4**. ' •4,A„,,,,'44, ZSR "�' ��a+ s ',"1<t';' b 4,41,00101 t a e ` p�0p *,%•••?" , �,, � °��'.; �� P �'.� . 3' ,:+ 'sem �. Main Entrance Camera System Main Entrance Beam Scanner k StZ � i � 1 ,fd t } . ,✓ i N �1 tr3 3 ti Guardhouse IIVAC Pond Fountain Tuesday, May 2, 2017 Page 16 of 49 Pages Prepared by Florida erant!Appraisal Cedar Harnmock CDD FundiResng Stuve dy Summary-Cantinttett y: 3.,. �..,. � fi Bulkhead Hole 16 Typical Pond , s . " x ' t er x, �. z nom& 3 ,° .z, ,t-`,7)--.. ',0.n'O # 4' ' Bulkhead Hole 17 Bulkhead Hole 4 z7 - " a to-,-„,..,'"..,w*,' 3,dA ..,,•.'-‘41•4-116.r.'ak =::;" " q9'•'s A'i -,-,-;,,,,: t.,1,. e'�1 S . ., i''�" 1kx S A'. ."Si,g, .•. • * ) . . 0, -_ ... `. - :,. � .� > �.,:..!74:',.40,* *w _� x,.' : xe, a' Via" m � u Bulkhead Hole 5 Rear Entrance Page 17 of 49 Pages Tuesday, May 2,2017 Preyared by Florida Reserve Stately and Appraisal Cedar Hammock CDD Funding Study Summary-Can tinned : z-!. d v k i� �. ".. ,ltd z =P e. a -1 1 ' .elft w� ,;- , =..<'.,'':,-_,--.,:--.-'-;'-:4,•.:;':,1'-4 :4? ' ,:,,i,/` ' Rear Entrance Rear Entrmce Beam Scanner —"'41-4 4 ter —> �. iV six j� �"�` �,r'-3�2� xi' F S s..oradittik �' z'ash ,<X ate^ = ' 2 „ . �, � r . Rear Entrance Security System tear Entrance Entry Monument �. ,- e S r asn y . .nLl a e ' s ,.d ,i,,,,...":-.(-1,,,,...4., 3 a as 3�r�,5. .fi 6 - -. k < :¢ ' ; ' ac,; -*. 1 ;. YrT 4 YrR l- 4 ate; Rear Entrance Aluminum Fencing Stonnwater Drainage Mitered End Section Tuesday, May 2,2017 Page 18 of 49 Pages Prepared b�>Florida Reserve Study and Apuraisal Cedtu Hnnunock CDD Funding.Study Sunanrary-Continued y- r, xz . �.� 40,4k.,..„.461.,:lza..,.....,-4,- ....,- .. ,, • 4 � t L. r a 3 —m » 'I ,� x � ,� �m , � r a � I a" � ��r ,� , teafMu &,:', ..., Fe `" Stormwater Drainage Curb Inlet Paving,Cedar Hammock Circle ft• ,+ I 1 It f, $w , c^ K � �" ' wiz s :4•.',.."-',,'-...,:-.,*,‘,,,,-. .:•0...4q,,-;-,0•:,- �,xi , 'y. ,q rr,,,�^x I 1 Paving,Sawgrass Way Paving,Wax Myrtle Run :,...1,-'..-.;!'72-7", -..-. y ' JUS 4 ,"'ayfiy A`", 4, as 1 a , „ sIx � \ - , Paving,Cordgrass Way Paving,Buttonwood Way I Tuesday, May 2,2017 Page 19 of 49 Pages • Prepares!by Florida Reserve Study and Appraisal Cedar Hanunock CDD Funding Study Summzary-Continued ''''''' ' e: '''''' .1 ,'e,e^p' d ? y 'f � � k af': ,; u %4; ?�� q V7 +3 d+_ __ _.. . Paving,Cedar Hammock Ct Paving Cedar Hammock Blvd ; Y' `y. ar (-----) Sidewalks Street Signs i I I 1 { . . e. _ ' 3 I 44 ; , c ax Radar Sign Tuesday, May 2,2017 Page 20 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Reserve Study Expense Item Summary Current Estimated Expected First Repeating Reserve Items Cost When Life When Replacement Remaining Life Item? New New Cost Grounds Pier Deck Boards and Railings $14,625 13 Years 15 Years $20,746 Yes Pier Frame and Pilings $9,750 28 Years 30 Years $20,116 Yes Pier Repair Allowance $1,625 6 Years 8 Years $1,935 Yes Cart Bridges Deck Boards $485,450 11 Years 30 Years $655,084 Yes Cart Bridges Frame and Pilings $346.750 11 Years 30 Years $467,917 Yes Cart Bridges Repair Allowance $41,610 3 Years 5 Years $45,981 Yes Irrigation and Pumps 75 HP Pumps Yearly Rebuild $20,000 0 Year 1 Years $20,506 Yes Irrigation System Modernization and Repairs $40,000 8 Years 25 Years $50,081 Yes Flowtronex Packaged Pump System Controls $10,000 5 Years 10 Years $11,617 Yes Repair Well Pumps Phase I $12,000 2 Years 8 Years $12,934 Yes Well Putnps Phase 2 $12,000 6 Years 8 Years $14,292 Yes Pumphouse Tile Root' $9,920 I l Years 30 Years $13,386 Yes Pumphouse Metal Roof $1,365 II Years 30 Years $1,842 Yes Pumphouse Exterior Paint $1,340 3 Years 6 Years $1,481 Yes Landscaping I Landscaping Yearly Refurbishment $3,500 0 Year 1 Years $3,589 Ycs Main Entrance BatrierArnss and Operators $12,000 2 Years 15 Years $12,934 Yes Entry Monuments Refurbishment $12,000 15 Years 20 Years $17,894 Yes Guardhouse Security Camera System $6,000 2 Years 10 Years $6,467 Yes Guardhouse Tile Roof $20,232 It Years 30 Years $27,302 Yes BAI Beam Scanner $7,000 10 Years 15 Years $9,213 Yes Guardhouse Exterior Paint $2,720 6 Years 8 Years $3,240 Yes Guardhouse Interior Paint $1,330 6 Years 8 Years $1,584 Yes Guardhouse HVAC 2.0 Tons $3,000 0 Years 12 Years $3,076 Yes Ponds Tuesday, May 2,2017 Page 21 of 49 Pages I Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Funding Study Expense Item Summary-Continued Current Expected First Estimated Repeating Reserve Items Cost When Life When Replacement Remaining Lite Item? New New Cost Aerators $12,000 8 Years 10 Years $15,024 Yes Pond Fountains Large Replacement $37500 4 Years 10 Years $42,488 Yes Pond Banks Erosion Control $110,300 4 Years 5 Years $124,970 Yes Bulkhead Replacement Holes 16 and 17 $280,000 0 Years 25 Years $287,081 Yes Bulkhead Replacement Holes 4 and 5 $576,000 5 Years 25 Years $669,112 Yes Rear Entrance Barrier Arms and Operators $4,000 2 Years 15 Years $4,311 Yes Gate Operators Original $8,000 0 Years 15 Years $8,202 Yes Gate Operators Replaced $8,000 13 Years 15 Years $11,348 Yes Gates $14,000 6 Years 25 Years $16,674 Yes BAt Beam Scanner $7,000 5 Years 15 Yeats $8,132 Yes Rear Entrance Security Camera System $6,000 8 Years I O Years $7,512 Yes Entry Monument Refurbishment $4,000 8 Years 20 Years $5,008 Yes Aluminum Fence 4' $13,860 6 Years 25 Years $16,508 Yes Stormwater Drainage Stormwater Drainage $39,000 4 Years 5 Years J $44,187 I Yes Repair Allowance L Streets and Sidewalks Paving 1.5 Inch Mill and Overlay CH Cir and $206,658 20 Years 20 Years $349,156 Yes Sawgrass Paving 1.5 Inch Mill and Overlay Wax Myrtle and $91,354 17 Years 20 Years $143,204 Yes Cordgrass Paving 1.5 Inch Mill and Overlay Sawgrass and $102,377 t Years 20 Year $107,620 Yes Buttonwood Paving 1.5 Inch Mill and Overlay CH Ct $45,792 2 Years 20 Years $49,355 Yes Paving1.5 inch Mill and OverlCH Blvd $227,880 3 Years 20 Years $251,820 Yes Pavers on Cedar Hammock Blvd $73,500 11 Years 30 Years $99,184 Yes Sidewalk Repair Allowance $34,000 3 Years 5 Years $37,572 Yes Tuesday, May 2, 2017 Page 22 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Funding Study Expense Item Summary-Continued Current Expected First Estimated Repeating Reserve Items Cost When Life When Replacement New Remaining Life New Cost Item? Street Signs $15,300 10 Years 25 Years $20,137 Yes Radar Signs $12,000 6 Years 12 Years $14,292 Yes Months Remaining in Fiscal Calendar Year 2017:12 Expected annual inflation:2,50% Interest earned on reserve funds:1.00% Initial Reserve:$637,21'76 Tuesday, May 2,2017 Page 23 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Reserve Study Expense Item Listing Expected Current Estimated Fiscal Reserve Items Unit Cost No Units Cost When Remaining Life Calendar Estimated When Future Cost New Life Year New Grounds Pier Deck 13 Years 2030 $20,746 Boards and $45.00/sf 325 sf $ 14,625 15 Years 2045 $30,174 Railings 15 Years 2060 $43,886 Pier Frame and 28 Years 2045 $20,116 Pilings $30.00/sf 325 sf $9,750 30 Years 30 Years 2075 $42,552 6 Years 2023 $ 1,935 Pier Repair 2031 $2,363 Allowance $5.00/sf 325 sf $1,625 8 Years 8 Years 2039 $2,886 2047 $3,524 Cart Bridges 11 Years 2028 $655,084 Deck Boards $35.00/sf 13870 sf $485,450 30 Years 30 Years 2058 $1,385,732 Cart Bridges 11 Years 2028 $467,917 Frame and $25.00/sf 13870 sf $346,750 30 Years Pilings 30 Years 2058 $989,809 3 Years 2020 $45,981 2025 $52,097 Cart Bridges 2030 $59,026 Repair $3.00/sf 13870 sf $41,610 5 Years 2035 $66,876 Allowance 5 Years 2040 $75,771 2045 $85,849 2050 $97,267 Irrigation and Pumps 0 Years 2017 $20,506 2018 $21,024 2019 $21,556 1 2020 $22,101 2021 $22,660 75 HP Pumps S 20,000 ea 1 $20,000 1 Year 2022 $23,233 Yearly Rebuild 1 Years 2023 $23,821 2024 $24,423 2025 $25,041 2026 $25,674 2027 $26,323 Tuesday, May 2,2017 Page 24 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Reserve Study Expense Item Listing-Continued Expected Current Estimated Life Fiscal Estimate[( Reserve Items Unit Cost No Units Cost When Remaining Calendar When Future Cost New Life New Year 2028 $26,989 2029 $27,671 2030 $28,371 2031 $29,088 2032 $29,824 2033 $30,578 2034 $31,352 2035 $32,144 2036 $32,957 75 HP Pumps $20,000 ea 1 $20,000 1 Years 1 Year 2037 $33,791 Yearly Rebuild 2038 $34,645 2039 $35,521 2040 $36,420 2041 $37,341 2042 $38,285 2043 $39,253 2044 $40,246 2045 $41,263 2046 $42,307 2047 $43,377 Irrigation System 8 Years 2025 $50,081 Modernization $40,000/total I total $40,000 25 Years and Repairs 25 Years 2050 $93,503 Flowtronex 5 Years 2022 $ 11,617 Packaged Pump 2032 $ 14,912 $ 10,000 ea 1 $ 10,000 10 Years System Controls 10 Years 2042 $ 19,142 Repair 2052 $24,573 2 Years 2019 $ 12,934 2027 $ 15,794 Well Pumps S 6,000 ea 2 $ 12,000 8 Years 2035 $ 19,287 Phase 1 8 Years 2043 $23,552 2051 $28,760 Well Pumps 6 Years 2023 $ 14,292 Phase 2 $6,000 ea 2 $ 12,000 8 Years 8 Years 2031 $ 17,453 Tuesday, May 2,2017 Page 25 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Reserve Study Expense Item Listing-Continued Expected Current Estimated Life Fiscal Estimated Reserve Items Unit Cost No Units Cost When Remaining Calendar When Future Cost New Life Year New Well Pumps 2039 $21,313 $6,000 ea 2 $12,000 8 Years 8 Years Phase 2 2047 $26,026 Pumphouse Tile 11 Years 2028 $ 13,386 Roof $ 10.00/sf 992 sf $9,920 30 Years 30 Years 2058 $28,317 Pumphouse 11 Years 2028 S 1,842 Metal Roof $7.00/sf 195 sf $ 1,365 30 Years 30 Years 2058 S 3,896 3 Years 2020 S 1,481 2026 S 1,720 Pumphouse 2032 $1,998 Exterior Paint $ 1.00/ ft 1340 ft $1,340 6 Years 6 Years 2038 $2,321 2044 $2,696 2050 $3,132 Landscaping 0 Years 2017 $3,589 2018 $3,679 2019 $3,772 2020 $3,868 2021 $3,966 2022 $4,066 2023 $4,169 2024 $4,274 2025 $4,382 Landscaping 2026 $4,493 Yearly $3,500/total 1 total $3,500 1 Year Refurbishment 1 Years 2027 $4,607 2028 $4,723 2029 S 4,842 2030 S 4,965 2031 S 5,090 2032 S 5,219 2033 $5,351 2034 $5,487 2035 $5,625 2036 $5,768 Tuesday, May 2,2017 Page 26 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Reserve Study Expense Item Listing-Continued Current Estimated Expected Fiscal Life Estimated Reserve Items Unit Cost No Units Cost When Remaining When Calendar Future Cost New Life New Year 2037 $5,913 2038 $6,063 2039 $6,216 2040 $6,373 Landscaping 204I $6,535 Yearly $3,500/total 1 total $3,500 1 Years I Year 2042 $6,700 Refurbishment 2043 $6,869 2044 $7,043 2045 $7,221 2046 $7,404 2047 $7,591 Main Entrance 2 Years 2019 $ 12,934 Barrier Arms and Operators $4,000 ea 3 $12,000 15 Years 2034 $ 18,811 15 Years 2049 $27,359 Entry 15 Years 2032 $17,894 Monuments $6,000 ea 2 $ 12,000 20 Years Refurbishment 20 Years 2052 $29,488 2 Years 2019 $6,467 Guardhouse 2029 $8.301 Security Camera $6,000 ea I $6,000 10 Years System 10 Years 2039 $10,656 2049 $ 13,680 Guardhouse Tile 11 Years 2028 $27,302 $ 12.00/sf 1686 sf $20,232 30 Years Roof 30 Years 2058 $57,753 10 Years 2027 $9,213 BAI Beam Scanner $7,000 ca 1 $7,000 15 Years 2042 $ 13,400 15 Years 2057 $ 19,489 6 Years 2023 $3,240 Guardhouse 2031 $3,956 Exterior Paint $ 1.00/sf 2720 sf $2,720 8 Years 8 Years 2039 $4,831 2047 $5,899 Guardhouse 6 Years 2023 $ 1,584 Interior Paint $ 1.00/sf 1330 sf $ 1,330 8 Years 8 Years 2031 $ 1,934 Tuesday, May 2, 2017 Page 27 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Reserve Study Expense Item Listing-Continued Expected Current Estimated Fiscal Life Estimated Reserve Items Unit Cost No Units Cost When Remaining When Calendar Future Cost New Life New Year Guardhouse 2039 $2,362 Interior Paint $ 1.00/sf 1330 sf $ 1,330 8 Years 8 Years 2047 $2,885 0 Years 2017 $3,076 Guardhouse 2029 $4,151 HVAC 2.0 Tons $3,000 ea I $3,000 12 Years 12 Years 2041 $5,601 2053 S 7,558 Ponds 8 Years 2025 $15,024 2035 $19,287 Aerators $4,000 ea 3 $ 12,000 10 Years 10 Years 2045 S 24,758 2055 $31,782 4 Years 2021 $42,488 Pond Fountains 2031 $54,541 • Large $ 12,500 ca 3 $37,500 10 Years Replacement 10 Years 2041 $70,014 2051 $89,876 4 Years 2021 $124,970 2026 $ 141,591 Pond Banks 2031 $160,423 Erosion Control $ 110,300/total I total $ 110,300 5 Years 5 Years 2036 $ 181,759 2041 $205,934 2046 $233,323 Bulkhead 0 Years 2017 $287,081 Replacement $280,000/total I total $280,000 25 Years 2042 $535,989 Holes 16 and 17 25 Years 2067 S 1,000,708 Bulkhead 5 Years 2022 $669,112 Replacement $576,000/total 1 total $576,000 25 Years Holes 4 and 5 25 Yeats 2047 $ 1,249,254 Rear Entrance 2 Years 2019 $4,311 Barrier Arms $4,000 ea 1 $4,000 15 Years 2034 $6,270 and Operators 15 Years 2049 $9,120 Gate Operators 0 Years 2017 $8,202 $4,000 ea 2 $8,000 15 Years Original 15 Years 2032 $ 11,930 Tuesday, May 2, 2017 Page 28 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Reserve Study Expense Item Listing-Continued Expected Current Estimated Fiscal Life Estimated Reserve Items Unit Cost No Units Cost When Remaining Calendar When Future Cost New Life Year New Gate Operators $4,000 ea 2 $8,000 15 Years 15 Years 2047 $ 17,351 13 Years 2030 $11,348 Gate Operators Replaced $4,000 ea 2 $8,000 15 Years 2045 S 16,505 15 Years 2060 S 24,006 6 Years 2023 $ 16,674 Gates $3,500 ea 4 $14,000 25 Years 25 Years 2048 $31,132 5 Years 2022 $8,132 BAI Beam $7,000 ea 1 $7,000 15 Years 2037 $11,827 Scanner 15 Years 2052 $ 17,201 8 Years 2025 $7,512 Rear Entrance 2035 $9,643 Security Camera $6,000/total 1 total $6,000 10 Years System 10 Years 2045 $12,379 2055 $ 15,891 8 Years 2025 $5,008 Entry Monument Refurbishment $4,000 ea I S 4,000 20 Years 2045 $8,253 20 Years 2065 $ 13,599 Aluminum Fence 6 Years 2023 $ 16,508 $35.00/If 396 If $13,860 25 Years 25 Years 2048 $30,820 1 4' Stormwater Drainage 4 Years 2021 $44,187 2026 $50,064 Stormwater 2031 $56,723 Drainage Repair $39,000/total 1 total $39,000 5 Years Allowance 5 Years 2036 $64,267 2041 $72,814 2046 $82,499 Streets and Sidewalks Paving 1.5 Inch 2037 $349,156 Mill and Overlay $ f.20/sf 172215 sf $206,658 20 Years 20 Years CH Cir and Sawgrass 2057 $575,362 Paving 1.5 Inch $ 1.20/sf 76128 sf $91,354 17 Years 20 Years 2034 $143,204 Mill and Overlay Tuesday, May 2,2017 Page 29 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Reserve Study Expense Item Listing-Continued Expected Current Estimated Life Fiscal Estimated Reserve Items Unit Cost No Units Cost When Remaining Calendar When Future Cost New Life New Year Paving 1.5 Inch $ 1.20/sf 76128 sf $91,354 20 Years 20 Years 2054 S 235,981 Mill and Overlay Paving 1.5 Inch 1 Year 2018 $107,620 Mill and Overlay Sawgrass and $ 1.20/sf 85314 sf $ 102,377 20 Years 2038 $177,343 20 Year Buttonwood 2058 $292,238 Paving 1.5 Inch 2 Years 2019 $49,355 I Mill and Overlay $ 1.20/sf 38160 sf $45,792 20 Years 2039 $81,330 CH Ct 20 Years 2059 $134,020 Paving 1.5 Inch 3 Years 2020 $251,820 Mill and Overlay $ 1.20/sf 189900 sr $227,880 20 Years 2040 $414,965 CH Blvd 20 Years 2060 $683,806 Pavers on Cedar 11 Years 2028 $99,184 Hammock Blvd $5.00/sf 14700 st $73,500 30 Years 30 Years 2058 $209,808 3 Years 2020 $37,572 2025 $42,569 2030 $48,231 Sidewalk Repair Allowance $34,000/total 1 total S 34,000 5 Years 2035 $54,645 5 Years 2040 $61,913 2045 $70,148 2050 $79,478 10 Years 2027 $20,137 Street Signs $300 ea 51 S 15,300 25 Years 25 Years 2052 $37,597 6 Years 2023 $ 14,292 Radar Signs $6,000 ea 2 $ 12,000 12 Years 2035 $19,287 12 Years 2047 $26,026 Months Remaining in Fiscal Calendar Year 2017:12 Expected annual inflation:2.50% Interest earned on reserve fiords:1.00% Initial Reserve:$637,286 Tuesday, May 2,2017 Page 30 of 49 Pages Present Costs Category Item Name No Units Unit Cost Present Cost Pier Deck Boards and Railings 325 sf $45.00/sf $ 14,625.00 Pier Frame and Pilings 325 sf $30.00/sf $9,750.00 Pier Repair Allowance 325 sf $5.00/sf $ 1,625.00 Grounds - — Cart Bridges Deck Boards 13870 sf $35.00/sf $485,450.00 Cart Bridges Frame and Pilings 13870 sf $25.00/sf $346,750.00 Cart Bridges Repair Allowance 13870 sf $3.00/sf $41,610.00 Grounds Sub Total= $899,810.00 75 HP Pumps Yearly Rebuild 1 I $20,000.00 ea $20,000.00 Irrigation System Modernization 1 total $40,000.00/total $40,000.00 and Repairs Flowtroncx Packaged Pump System Controls Repair 1 $ 10,000.00 ea $ 10,000.00 Irrigation and Pumps Well Pumps Phase 1 2 S 6,000.00 ea $ 12,000.00 Well Pumps Phase 2 2 $6,000.00 ea $ 12,000.00 Pumphouse Tile Roof 992 sf $10.00/sf $9,920.00 Pumphouse Metal Roof 195 sf $7.00/sf $ 1,365.00 Pumphouse Exterior Paint 1340 ft $1.00/ ft $ 1,340.00 Irrigation and Pumps Sub Total= $ 106,625.00 Landscaping Yearly Landscaping 1 total S 3,500.00/total $3,500.00 Refurbishment Barrier Arms and Operators 3 $4,000.00 ea $ 12,000.00 Entry Monuments Refurbishment 2 $6,000.00 ea $ 12,000.00 Guardhouse Security Camera 1 $6,000.00 ea $6,000.00 System Main Entrance Guardhouse Tile Roof 1686 sf $ 12.00/sf $20,232.00 BAI Beam Scanner 1 $7,000.00 ea $7,000.00 Guardhouse Exterior Paint 2720 sf $ 1.00/sf $2,720.00 I Guardhouse Interior Paint 1330 sf $ 1.00/sf $ 1,330.00 Guardhouse HVAC 2.0'Ions I $3,000.00 ea $3,000.00 Main Entrance Sub Total= $64,282.00 Aerators 3 $4,000.00 ea $ 12,000.00 Ponds Pond Fountains Large 3 $ 12,500.00 ea $37,500.00 Replacement Pond Banks Erosion Control 1 total $ 110,300.00/total $ 110,300.00 Tuesday, May 2.2017 Page 31 of 49 Pages Prepared by Florida Reserve Study and Appraisal Present Costs-Continued Category Item Name No Units Unit Cast Present Cost Ponds Bulkhead Replacement Holes 16 I total $280,000.00/total $280,000.00 and 17 Bulkhead Replacement Holes 4 1 total $576,000.00/total $576,000.00 and 5 Ponds Sub Total= $ 1,015,800.01) Barrier Arms and Operators 1 $4,000.00 ea $4,000.00 Gate Operators Original 2 $4,000.00 ea $8,000.00 Gate Operators Replaced 2 $4,000.00 ea $8,000.00 Gates 4 $3,500.00 ea $ 14,000.00 Rear Entrance BAI Beam Scanner 1 $7,000.00 ea $7,000.00 Rear Entrance Security Camera 1 total $6,000.001 total $6,000.00 System Entry Monument Refurbishment 1 S 4,000.00 ea $4,000.00 Aluminum Fence 4' 396 If $35.00/if $ 13,860.00 Rear Entrance Sub Total= $64,860.00, Stonnwater Drainage Stormwater Drainage Repair 1 total $39,000.00/total $39,000.00 Allowance Paving 1.5 inch Mill and Overlay 172215 sf $ 120/sf $206,658.00 CH Cir and Sawgrass Paving 1.5 Inch Mill and Overlay 76128 sf $ 1.20/sf $91,353.60 Wax Myrtle and Cordgrass Paving 1.5 Inch Mill and Overlay Sawgrass and Buttonwood 85314 sf $ 1.20/sf $ 102,376.80 Paving 1.5 Inch Mill and Overlay Streets and Sidewalks CH Ct 38160 sf $ 1.20/sf $ '15.792,00 Paving 1.5 Inch Mill and Overlay 189900 sf $ 1.20/sf $227,880.00 CH Blvd Pavers on Cedar Hammock Blvd 14700 sf $5.00/sf $73,500.00 Sidewalk Repair Allowance 1 total $34,000.00/total $34,000.00 Street Signs 51 $300.00 ea $ 15,300.00 Radar Signs 2 $6,000.00 ea $ 12,000.00 Streets and Sidewalks Sub Total= $808,860.40 Totals= $3,002,737.40 Tuesday, May 2,2017 Page 32 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Funding Study Modified Cash Flow Analysis Fiscal f AnnualAnnual Annual Net Reserve Calendar 1 Assessment Interest %Funded Expenses Funds Year 2017 I $241,900 $7,485 $322,453 $564,217 27.7% 2018 $247,948 $6,782 $ 132,324 $686,623 35.4% 2019 $254,146 $8,034 $ 111,328 S 837,475 40.9% 2020 $260,500 $9,572 $362,823 S 744,724 34.2% 2021 $267,012 S 8,674 S 238,270 S 782,141 37.9% 2022 $273,688 S 9,079 S 716,159 S 348,749 16.7% 2023 $280,530 S 4,777 $96,515 S 537,540 33.0% 2024 $287,543 S 6,697 $28,697 $803,083 44.7% 2025 $294,732 $9,385 $201,714 $905,486 44.2% 2026 $302,100 S 10,443 $223,542 $994,487 46.7% 2027 $309,652 S 11,368 $76,074 $ 1,239,434 56.3% 2028 $317,394 $ 13,853 $ 1,296,428 $274,253 11.3% 2029 $325,329 $4,238 $44,966 $558,854 39.3% 2030 $333,462 $7,121 $ 172,687 $726,749 43.3% 2031 $341,798 $8,838 $331,572 $745,814 41,0% 2032 $350,343 $9,068 $81,778 $ 1,023,448 56.7% 2033 $359,102 $ 11,885 $35,929 $ 1,358,505 66.2% 2034 $368,079 $ 15,277 $205,123 $ 1,536,738 65.1% 2035 $377,281 $ 17,101 $226,795 $ 1,704,326 67.8% 2036 $386,713 $ 18,821 $284,751 $ 1,825,110 68.8% 2037 $396,381 $20,073 $400,687 $ 1,840,877 67.0% 2038 $406,291 $20,276 $220,373 $2,047,071 74.9% 2039 $416,448 $22,385 $ 165,116 $2,320,788 79.8% 2040 $426,859 $25,170 $595,443 $2,177,374 69.0% 2041 $437,531 $23,785 $398,238 $2,240,452 75.2% 2042 $448,469 $24,466 $613,516 $2,099,871 69.8% 2043 $459,681 $23,111 $69,674 $2,512,989 89.0% 2044 $471,173 $27,295 $49,985 $2,961,472 92.5% 2045 $482,952 $31,834 $316,666 $3,159,592 87.3% 2046 $495,026 $33,871 $365,532 $3,322,957 87.7% 2047 $507,402 $35,562 $ 1,381,933 $2,483,988 64.5% Totals: $11,127,466 $486,328 $9,767,092 t Cash Reserves minus Fully Funded Value The cash distribution shown in this table applies to repair and replacement cash reserves only. Basis of Funding Study-Modified Cash Flow Cash reserves have been set to a minimum of$0 Cash Flow has been modified with the forced Fixed Payments. Months Remaining in Fiscal Calendar Year 2017: 12 Inflation=2.50% Interest=1.00% Study Life=30 years Initial Reserve Funds=$637,286.00 Final Reserve Value=$2,483,987.77 Tuesday, May 2,2017 Page 33 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Modified Reserve Assessment Summary Projected Assessment by Month and by Fiscal Calendar Year Fiscal Owner Total Calendar Annual Annual Reserve Year Assessment Assessment 2017 _.. $302.75 $241,900 2018 $310.32 $247,948 2019 $31.8.08 $254,146 2020 $326.03 $260,500 2021 $334.18 $267,012 2022 $342.54 $273,688 2023 $351.10 S 280,530 2024 $359.88 S 287,543 2025 $368.88 S 294,732 2026 $378.10 $302,100 2027 $387.55 $309,652 ......... . 2028 $397.24 $317,394 2029 $407.17 $325,329 2030 $417.35 $333,462 2031 S 427.78 $341,798 2032 S 438.48 $350,343 2033 S 449.44 $359,102 2034 $460.68 $368,079 2035 $472.19 $377,281 2036 $484.00 $386,713 2037 $496.10 $396,381 2038 $508.50 $406,291 2039 $521.21 $416,448 2040 $534.24 $426,859 2041 $547.60 $437,531 2042 $561.29 $448,469 2043 $575.32 $459,681 2044 $589.70 $471,173 2045 $604.45 $482,952 2046 $619.56 $495,026 2047 $635.05 $507,402 Assessment Summar has been modified with forced Fixed Payments. In the context of the Reserve Payment Summary,the'Annual Reserve Payment"corresponds with the 'Amoral Revenue"in the Cash Flow report. Operations Payments Include an annual inflation factor of 2.50% Number of Payment Months in Fiscal Calendar Year 2017:12 Number of Years of Constant Payments:I Tuesday, May 2,2017 Page 34 of 49 Pages Prepared by Florida Reserve Study and Appraisal Cedar Hammock CDD Funding Study Assessment Summary by Fiscal Calendar Year-Continued No of Assessed Owners:799 Tuesday, May 2, 2017 Page 35 of 49 Pages N ^ r{ S.9 "• 03 so P ,4?) a H :9 » a9 i O Ei0. n gt1 » M Y ^ 10 Ci O v .. » EA, 49 hi N N :Z a P a a -._.. p gl N 0 ,� ; 0t` 03 µ 4 4 4. 09 s9 M qq 09 69 C 4„ T O ._ pp ), x R w +� , 0-1 09 x s9 49 I 4.,F., V V N es La 3. O n O n h trot, p.. O1 N N h r mi N N 1.1 1791 i 59 '.A K » e9 a '13Q n _ } h V a A ti N 'J Q O U CI ..S N .... b '� @ 6 I t7' s.. 4., » V W H N aot 4 m N — I- -- . 4I a s a � ' a ti . a ' Q y » sq K » fl Z a - .. ,, I -9 n 1 09 ;y CO 6 t a 44i a h 49 i; » n w O , co n v r v I co E au ,` C x x - x ! z �— a. I an o " nNw 54 a, x n V » a 4 , U N A v. .a� t. 5, A wv. to r2 R 8 a uV N . i 99 M a- — Ei .13 SI U H w » a » ,9 w » n 4. _ A a N v. A » a » x a o` o 0 O N h g - I o b N N o -; 0-i >, a . ._.-1' u s ' I. x (C 5 0 3 > a c y 4 a 3 g u a ? "4 s ; u' 3 3 y _ SU' �, �[ ', - C j t. n v n n .. h n rs 1 3l.Ya 5 i < n .. n u ` n u 5 [ [ Y o n .T v c i r a L O rc m m 01 a c 4 4 - ¢. a 3 4 '2 C I 6 - y > a n T '_s a c r tS 'S 'c i r° 5 _ a C 4 4 a a U it h 3 3 y q e 3 C 4 4 3 ,:s 3 4 6 3 J % I @\# /\ s. [ \ \ & ) . ) ) N Si @ 5 $ N # § ) \ § % 2 « — ' — } . } A. CS 2 - — — ! $ ( - 7 2 \14 \ ) , . . .. 2 , • � % / £ ) ! N \ \ ( § I. f w ; Z , - t § - » 4- N - / N ) — ! — $ q » 9 ƒ ( - { - - ) 5 \ - . ^ ' ) .. is § J j +}\ ( }- I 2 ° i..' ( E ' , \ 2 ; ' \ Q , J - - % 2 k ) - , ■ § ) ; m / \ [ ± 4:1 m . , 76. \ 2 - � - ; . . — . . \ \ $ s. 56 ocr \ , - ,...a m 4. I . . . . § — ) . ! 2 a § ! \ ,g. . . .-4 . g .- '$ ` . \ , \ , } \ \ E.E. / { } } [ | : 7 { I... _ e _ \ _} ) / N. ; ) ) ; . N : \ : - ® 3 / ] ] 2 : 4 - : § ) ) , I - \ � , ) } - P. \} } � � _ , '2. \ ƒ } 7 % \ | k IA ) ) \ } } / ) ) \ J. ) ) ) \ \/ a ) A \ ! '1 2 3 \ ,.'1 \ . .. . .... { ! ) \ ) . \ @ ] T. \ 0 « ` . - ez ) \ tS m - ) SS \ \ § ~ . ; ) •■ - - - \ §\ ETh S ) ; _ - COa. ( \ q { 0 4 k - } a \ ` 2 aa 2 ? Q Zt ti / { 2 [ a, 2 Q @ E .�. . § § 2 ....i: J | & / 'A [ ( \ / \ \ 2N. » @ 4. 4; 2 ƒ ( Z i i / k { .s. E. j \ } t m • 2 V , ! - ~ I§ ; y . ! / , 7 . - . , . - \ \ ! k G ts \ z z t m f\ \ w ® ! ci ! o ] a , ) ! - - 2 7 _ 4. ° - r ` CL \ t . .-y I, a , ;0'2' m % ( .2 I} - , , . } j 7 Cl \ § A § / Foh � , E / J . , - I � $ 5 ; . ~ \ - ! # Q ! .F.-: [ ( f - . _ - _ ( % — — C. -- . . . —_ ! — s S / f _ _ 4 § t) t ( / \ " \ ) ; CO ; \ 2 } , .. & \ / AR k . , | ` \ B . �.y t . . .�. . .. ! ) . .. .�. . � k ° - ' ! Q @ - - , / . - b., - 4.4` ` 7 § # / / & , 4. 7� — — w \ ; \ - _ \ ) r _ / „ , _ i. \ \ \ \ } e } •} ts 1 C - } Z. \ C ! , :1".' - » t Z -• — R ) j ) { . E \ { : _ ] i | } ( ; ) ) N. » ( \ ' \ ,. J E � \ \ .1. ‘,E k $ ! k it < C. , � } $ & / z ; � } al (3. (...i• ) & ! e 0 \ co M $ 2 L. ! ! _ ¢ % $ ' ; ; - ; / \ K 2F4 ti a . N - § 2 \ § , , 3 \ : ` . . . ,� \ 64 a. ! § f 1 , $ ) 4. a 1 . .. . ° \ , \ w J. . 'XI k 2 - � � { k' '' , . - } 7 ( & / § - — ) , - § \ s, , \ ' / \ , ` { ) , | C..) \ _ ( I . . . , / k % | ; ,12 4 , ) . .. . 4 � . .... . . \ ( ` C"Gi.1 / \ ae 4. '>:". ; \ _ \ / \ \ } ~ \ \ ! ! - 7 7 $ \ / % § & / \ } ) \ \ \ _g. } { \ \ \ { »_ } ; ƒ ; . : 2 t i _ } !_ / 4 , _ ` . \ ) ) . t 9 ,r. } \ - ; }\ \ _ . / i. 41a' 44. \ \ } \ \ \ / j ;• Q ; \ ; z / ) & .t, •?) 2u / � / \ 44 0 \ § "0. m P. % 61, 1 ' - - , \ \ ƒ - 7 - \ t. \ ci_ " \ A ; » 2 & £ ; -- ¥ K J i 5 4 A t _ CY I. f ) \ \ to 4 ` / A. Q u. .. Z _— 1.1 k_ - - § t sl \ i ! \ k L.. *. 2 m — } _ 2 ( ( 4. \ \ k \ k \ \ / ƒ k \ ` ƒ ! 7 \ \ ) / Florida Reserve Study and Appraisal, Inc. 12407 N. Florida Avenue Tampa,FL 33612 Phone: 813.932.1588 Fax: 813.388.4189 www.reservestudyfl.com May 2, 2017 Expense Summary by Year Year Category Item Name Expense Irrigation and Pumps 75 HP Pumps Yearly Rebuild $20,506 Landscaping Landscaping Yearly Refurbishment $3,589 FY 2017 Main Entrance Guardhouse HVAC 2.0 Tons $3,076 Ponds Bulkhead Replacement Holes 16 and 17 $287,081 Rear Entrance Gate Operators Original $8,202 FY 2017 Annual Expense Total=$322,454 Irrigation and Pumps 75 HP Pumps Yearly Rebuild $21,024 FY 2018 Landscaping Landscaping Yearly Refurbishment $3,679 Streets and Sidewalks Paving 1.5 Inch Mill and Overlay Sawgrass and $ 107,620 Buttonwood FY 2018 Annual Expense Total=$ 132,323 75 HP Pumps Yearly Rebuild $21,556 Irrigation and Pumps Well Pumps Phase 1 $ 12,934 Irrigation and Pumps Subtotal=$34,490.00 Landscaping Landscaping Yearly Refurbishment $3,772 FY 2019 Barrier Arms and Operators $ 12,934 Main Entrance Guardhouse Security Camera System $6,467 Main Entrance Subtotal=$ 19,401.00 Rear Entrance Barrier Arms and Operators $4,311 Streets and Sidewalks Paving 1.5 Inch Mill and Overlay CH Ct $49,355 FY 2019 Annual Expense Total=$ 111,329 Grounds Cart Bridges Repair Allowance $45,981 75 HP Pumps Yearly Rebuild $22,101 Irrigation and Pumps Pumphouse Exterior Paint $ 1,481 FY 21120 Irrigation and Pumps Subtotal=S 23,582.00 Landscaping Landscaping Yearly Refurbishment $3,868 Streets and Sidewalks Paving 1.5 Inch Mill and Overlay CH Blvd $251,820 Tuesday, May 2,2017 Page 42 of 49 Pages Prepared by Florida Reserve Study and Appraisal Year Category Item Name Expense Streets and Sidewalks Sidewalk Repair Allowance $37,572 FY 2020 Streets and Sidewalks Subtotal=$289,392.00 FY 2020 Annual Expense Total=$362,823 Irrigation and Pumps 75 HP Pumps Yearly Rebuild $22,660 Landscaping Landscaping Yearly Refurbishment $3,966 Pond Fountains Large Replacement $42,488 FY 2021 Ponds Pond Banks Erosion Control $ 124,970 Ponds Subtotal=$ 167,458.00 Stormwater Drainage Stormwater Drainage Repair Allowance $44,187 — i Annual Expense Total=$238,271 75 HP Pumps Yearly Rebuild $23,233 Irrigation and Pumps Fluwtronex Packaged Pump System Controls Repair $ 11,617 Irrigation and Pumps Subtotal=$34,850.00 FY 2022 Landscaping Landscaping Yearly Refurbishment $4,066 Ponds Bulkhead Replacement Holes 4 and 5 $669,112 Rear Entrance BAI Beam Scanner $8,132 FY 2022 Annual Expense Total=$716,160 Grounds Pier Repair Allowance $ 1,935 75 HP Pumps Yearly Rebuild $23,821 Irrigation and Pumps -- -- — Well Pumps Phase 2 $ 14,292 Irrigation and Pumps Subtotal=$38,113.00 Landscaping Landscaping Yearly Refurbishment $4,169 Guardhouse Exterior Paint $3,240 FY 2023 Main Entrance Guardhouse Interior Paint $ 1,584 Main Entrance Subtotal=$4,824.00 Gates $ 16,674 Rear Entrance Aluminum Fence 4' $ 16,508 Rear Entrance Subtotal=$33,182.00 Streets and Sidewalks Radar Signs $ 14,292 Annual Expense Total=$96,515 Irrigation and Pumps 75 HP Pumps Yearly Rebuild $24,423 FY 2024 Landscaping Landscaping Yearly Refurbishment $4,274 FY 2024 Annual Expense Total=$28,697 FY 2025 Grounds Cart Bridges Repair Allowance $52,097 Tuesday, May 2,2017 Page 43 of 49 Pages Prepared by Florida Reserve Study and Appraisal Year Category Item Name Expense 75 HP Pumps Yearly Rebuild $25,041 Irrigation and Pumps Irrigation System Modernization and Repairs $50,081 Irrigation and Pumps Subtotal=$75,122.00 Landscaping Landscaping Yearly Refurbishment $4,382 FY 2025 Ponds Aerators $ 15,024 Rear Entrance Security Camera System $7,512 Rear Entrance Entry Monument Refurbishment $5,008 Rear Entrance Subtotal=$ 12,520.00 Streets and Sidewalks Sidewalk Repair Allowance $42,569 Annual Expense Total=$201,714 75 HP Pumps Yearly Rebuild $25,674 Irrigation and Pumps Pumphouse Exterior Paint $ 1,720 Irrigation and Pumps Subtotal=$27,394.00 FY 2026 Landscaping Landscaping Yearly Refurbishment $4,493 Ponds Pond Banks Erosion Control $ 141,591 Stormwater Drainage Stormwater Drainage Repair Allowance $50,064 FY 2026 Annual Expense Total=$223,542 75 HP Pumps Yearly Rebuild $26,323 Irrigation and Pumps Well Pumps Phase 1 $ 15,794 Irrigation and Pumps Subtotal=$42,117.00 FY 2027 Landscaping Landscaping Yearly Refurbishment $4,607 Main Entrance BAl Beam Scanner $9,213 Streets and Sidewalks Street Signs $20,137 FY 2027 Annual Expense Total=$76,074 Cart Bridges Deck Boards — $655,084 Grounds — -- ---- Cart Bridges Frame and Pilings $467,917 Grounds Subtotal=$ I,I23,001.00 75 HP Pumps Yearly Rebuild $26,989 Irrigation and Pumps Pumphouse Tile Roof $ 13,386 FY 2028 Pumphouse Metal Roof $ 1,842 Irrigation and Pumps Subtotal=$42,217.00 Landscaping Landscaping Yearly Refurbishment $4,723 Main Entrance Guardhouse Tile Roof $27,302 Streets and Sidewalks Pavers on Cedar Hammock Blvd $99,184 FY 2028 Annual Expense Total=$ 1,296,427 Tuesday, May 2, 2017 Page 44 of 49 Pages Prepared by Florida Reserve Study and Appraisal Year Category Item Name Expense Irrigation and Pumps 75 HP Pumps Yearly Rebuild S 27,671 Landscaping Landscaping Yearly Refurbishment $4,842 FY 2029 Guardhouse Security Camera System $8,301 Main Entrance Guardhouse HVAC 2.0 Tuns $4,151 Main Entrance Subtotal=$ 12,452.00 FY 2029 Annual Expense Total=$44,965 Pier Deck Boards and Railings $20,746 Grounds -- Cart Bridges Repair Allowance $59,026 Grounds Subtotal=$79,772.00 FY 2030 Irrigation and Pumps 75 HP Pumps Yearly Rebuild $28,371 Landscaping Landscaping Yearly Refurbishment $4,965 Rear Entrance Gate Operators Replaced $ 11,348 Streets and Sidewalks Sidewalk Repair Allowance $48,231 FY 2030 Annual Expense Total=$ 172,687 Grounds Pier Repair Allowance $2,363 75 HP Pumps Yearly Rebuild $29,088 Irrigation and Pumps Well Pumps Phase 2 $ 17,453 Irrigation and Pumps Subtotal=$46,541.00 Landscaping Landscaping Yearly Refurbishment $5,090 Guardhouse Exterior Paint $3,956 FY 2031 Main Entrance — Guardhouse Interior Paint $ 1,934 Main Entrance Subtotal=$5,890.00 Pond Fountains Large Replacement $54,541 Ponds Pond Banks Erosion Control $ 160,423 Ponds Subtotal=$214,964.00 Stormwatcr Drainage Stormwater Drainage Repair Allowance $56,723 Annual Expense Total=$331,571 75 HP Pumps Yearly Rebuild $29,824 Irrigation and Pumps Flowtronex Packaged Pump System Controls Repair $ 14,912 Pumphouse Exterior Paint $ 1,998 FY 2032 Irrigation and Pumps Subtotal=$46,734.00 Landscaping Landscaping Yearly Refurbishment $5,219 Main Entrance Entry Monuments Refurbishment $ 17,894 Rear Entrance Gate Operators Original $ 11,930 FY 2032 Annual Expense Total=$81,777 Tuesday, May 2,2017 Page 45 of 49 Pages Prepared by Florida Reserve Study and Appraisal Year Category Item Name Expense Irrigation and Pumps 75 HP Pumps Yearly Rebuild $30,578 FY 2033 Landscaping Landscaping Yearly Refurbishment $5,351 FY 2033 Annual Expense Total=$35,929 Irrigation and Pumps 75 HP Pumps Yearly Rebuild $31,352 Landscaping Landscaping Yearly Refurbishment $5,487 FY 2034 Main Entrance Barrier Arms and Operators $ 18,811 Rear Entrance Barrier Arms and Operators $6,270 Streets and Sidewalks Paving 1.5 Inch Mill and Overlay Wax Myrtle and $ 143,204 Cordgrass FY 2034 Annual Expense Total=$205,124 Grounds Cart Bridges Repair Allowance $66,876 75 HP Pumps Yearly Rebuild $32,144 Inigation and Pumps Well Pumps Phase I $ 19,287 Irrigation and Pumps Subtotal=$51,431.00 Landscaping Landscaping Yearly Refurbishment $5,625 FY 2035 Ponds Aerators $19,287 Rear Entrance Rear Entrance Security Camera System $9,643 Sidewalk Repair Allowance $54,645 Streets and Sidewalks --- -- _. Radar Signs $ 19,287 Streets and Sidewalks Subtotal=$73,932.00 FY 2035 Annual Expense Total=$226,794 Irrigation and Pumps 75 IIP Pumps Yearly Rebuild $32,957 Landscaping Landscaping Yearly Refurbishment $5,768 FY 2036 -- Ponds Pond Banks Erosion Control $ 181,759 Stormwater Drainage Stormwater Drainage Repair Allowance $64,267 FY 2036 Annual Expense Total=$284,751 Irrigation and Pumps 75 HP Pumps Yearly Rebuild $33,791 Landscaping Landscaping Yearly Refurbishment $5,913 FY 2037 -- Rear Entrance BAI Beam Scanner $ 11,827 Streets and Sidewalks Paving 1.5 Inch Mill and Overlay CH Cir and Sawgrass $349,156 FY 2037 Annual Expense Total=$400,687 75 HP Pumps Yearly Rebuild $34,645 Irrigation and Pumps Pumphouse Exterior Paint $2,321 FY 2038 --- Irrigation and Pumps Subtotal=$36,966.00 Landscaping Landscaping Yearly Refurbishment $6,063 Tuesday, May 2,2017 Page 46 of 49 Pages Prepared by Florida Reserve Study and Appraisal Year Category Item Name Expense FY 2038 Streets and Sidewalks Paving 1.5 Inch Mill and Overlay Sawgrass and $ 177,343 Buttonwood FY 2038 Annual Expense Total=$220,372 Grounds Pier Repair Allowance $2,886 75 HP Pumps Yearly Rebuild $35,521 Irrigation and Pumps Well Pumps Phase 2 $21,313 Irrigation and Pumps Subtotal=$56,834.00 Landscaping Landscaping Yearly Refurbishment $6,216 FY 2039 Guardhouse Security Camera System $ 10,656 Main Entrance Guardhouse Exterior Paint $4,831 Guardhouse Interior Paint $2,362 Main Entrance Subtotal=$ 17,849.00 Streets and Sidewalks Paving 1.5 Inch Mill and Overlay CH Ct $81,330 Annual Expense Total=$ 165,115 Grounds Cart Bridges Repair Allowance $75,771 Irrigation and Pumps 75 HP Pumps Yearly Rebuild $36,420 Landscaping Landscaping Yearly Refurbishment $6,373 FY 2040 _ Paving 1.5 Inch Mill and Overlay CH Blvd $414,965 Streets and Sidewalks Sidewalk Repair Allowance $61,913 Streets and Sidewalks Subtotal=$476,878.00 FY 2040 Annual Expense Total=$595.442 Irrigation and Pumps 75 HP Pumps Yearly Rebuild $37,341 Landscaping Landscaping Yearly Refurbishment $6,535 Main Entrance Guardhouse HVAC 2.0 Tons $5,601 FY 2041 Pond Fountains Large Replacement $70,014 Ponds Pond Banks Erosion Control $205,934 Ponds Subtotal=$275,948.00 Stormwater Drainage Stormwater Drainage Repair Allowance $72,814 Annual Expense Total=$398,239 75 HP Pumps Yearly Rebuild $38,285 Irrigation and Pumps Flowtronex Packaged Pump System Controls Repair $19,142 Irrigation and Pumps Subtotal=$57,427.00 FY 2042 Landscaping Landscaping Yearly Refurbishment $6,700 Main Entrance BAI Beam Scanner $ 13,400 Ponds Bulkhead Replacement Holes 16 and 17 $535,989 Tuesday, May 2,2017 Page 47 of 49 Pages Prepared by Florida Reserve Study and Appraisal Year Category Item Name Expense FY 2042 Annual Expense Total=$613,516 75 HP Pumps Yearly Rebuild $39,253 Irrigation and Pumps Well Pumps Phase 1 $23,552 FY 2043 -- - _ Irrigation and Pumps Subtotal=$62,805.00 Landscaping Landscaping Yearly Refurbishment $6,869 Annual Expense Total=$69,674 75 IIP Pumps Yearly Rebuild $40,246 Irrigation and Pumps Pumphouse Exterior Paint $2,696 FY 2044 Irrigation and Pumps Subtotal=$42,942.00 Landscaping Landscaping Yearly Refurbishment $7,043 Annual Expense Total=$49,985 Pier Deck Boards and Railings $30,174 Grounds Pier Frame and Pilings $20,116 Carl Bridges Repair Allowance $85,849 Grounds Subtotal=$ 136,139.00 Irrigation and Pumps 75 HP Pumps Yearly Rebuild $41,263 Landscaping Landscaping Yearly Refurbishment $7,221 FY 2045 _ Ponds Aerators $24,758 Gate Operators Replaced $ 16,505 Rear Entrance Rear Entrance Security Camera System $ 12,379 Entry Monument Refurbishment $8,253 Rear Entrance Subtotal=$37,137.00 Streets and Sidewalks Sidewalk Repair Allowance $70,148 Annual Expense Total=$316,666 Irrigation and Pumps 75 HP Pumps Yearly Rebuild $42,307 Landscaping Landscaping Yearly Refurbishment $7,404 FY 2046 Ponds Pond Banks Erosion Control $233,323 Stormwater Drainage Stormwater Drainage Repair Allowance $82,499 FY 2046 Annual Expense Total=$365,533 Grounds Pier Repair Allowance $3,524 75 HP Pumps Yearly Rebuild $43,377 Irrigation and Pumps FY 2047 Well Pumps Phase 2 $26,026 Irrigation and Pumps Subtotal=$69,403.00 Landscaping Landscaping Yearly Refurbishment $7,591 Tuesday, May 2,2017 Page 48 of 49 Pages Prepared by Florida Reserve Sludy and Apprai, l Year Category Item Name Expense Guardhouse Exterior Paint $5,899 Main Entrance Guardhouse Interior Paint $2,885 Main Entrance Subtotal=$8,784.00 FY 2047 Ponds Bulkhead Replacement Holes 4 and 5 $ 1,249,254 Rear Entrance Gate Operators Original $ 17,351 Streets and Sidewalks Radar Signs $26,026 FY 2047 Annual Expense Total=$ 1,381,933 Tuesday, May 2, 2017 Page 49 of 49 Pages Notice of Meetings Cedar Hammock Community Development District The Board of Supervisors of the Cedar Hammock Community Development District will hold their meetings for Fiscal Year 2018 at the Cedar Hammock Clubhouse, 8660 Cedar Hammock Boulevard, Naples, Florida at 3:00 p.m. on the second Monday of the following months except as noted: October 9, 2017 November 13,2017 January 8,2018 February 12,2018 March 12,2018 April 16,2018 (third Monday) May 21,2018 (third Monday) There may be occasions when one or more Supervisors will participate by telephone. Meetings may be continued to a date and time certain which will be announced at the meeting. In accordance with the provisions of the Americans with Disabilities Act,any person requiring special accommodations at this meeting because of a disability or physical impairment should contact the District Management Company, Severn Trent Services at(954)753-5841. If you are hearing or speech impaired,please contact the Florida Relay Service at(800) 955-8770 for aid in contacting the District Office at least two(2)days prior to the date of the hearing and meeting. Each person who decides to appeal any action taken at these meetings is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based. Bob Koncar District Manager SEVERN Cedar Hammock CDD April/May 2017 — Field Management Report www.severntrentms.com 1. Lake Management The water levels in the lakes are down significantly due to the minimal amount of rainfall received during the fall and spring periods, however, over the next month or so the water levels should begin to rise with increased seasonal rainfall. The lakes looked good overall with minimal algae issues.There were a few lakes with visible issues related to hydrilla that should be addressed to keep the concern from getting out of control. Additional lake maintenance information is found below;all lake issues are low density unless otherwise noted. a. Aeration:All systems appeared to be working normal on the three lakes.Minimal algae was present on all three lakes,however,with the water level so low it is hard to fully evaluate the effect the systems are having on the lakes.With higher water volume,circulation should increase and greater oxygen should be delivered into the lakes. i. Lake 8: The new plantings and sound barrier have been installed around the compressor. The greatest algae presence is located at the ends of the lake. If algae buildup continues with higher water levels,the Board may want to investigate whether the diffusors are providing enough overlap within the lake to provide proper circulation. Because of the size of this lake additional diffusers may be needed. ii.. Lake 12: Upon inspection of the cabinet for the compressor it was evident there was a hose leak.This was reported to Club staff who believed it to be a hose clamp that would need to be adjusted. � Severn Trent Yearly Management Report 1 iii. Lake 13: Other than minimal algae,no issues observed. L-',.',":„'771;.,-;---','-:!' c:', tea,Sof ." wµ s �y.£ K ^^` «3` 3'..e.+' , !: b. Fountains: All fountains were operating normally during the inspection. If water levels do not I increase soon it may be necessary to shut down the fountains temporarily to avoid damage to the pumps/motors. Lake 11 Lake 15 k V w I c. Algae on Lakes: 3,8, 10, 12,&13. d. Littorals:The majority of the lake banks throughout the property are absent of littorals, however,there are healthy pockets of plants on a number of the lakes. Due to the yearly water fluctuation on the property establishing littorals may prove to be difficult.Test areas could be planted and may be beneficial to the overall water quality of the lakes.At this time no littorals seemed to be impacted by the drop in water levels. If the drought continues impact to the littorals may be likely. e. Weeds: i. Alligatorweed in Lakes: No issues observed. ii. Cattails in Lakes: No issues observed. Severn Trent Yearly Management Report 2 iii. Climbing Hemp Vine in Lakes: No issues observed. iv. Dollar Weed in Lakes: No issues observed. v. Hydrilla in Lakes: 3&5. ‘4,-,,,,e,../144&'-c?dz.70. ,'1. ,"' :'‘..''-r,-,'' z.,. 4ItOkik,g---'f'1:4:'..' ' • ' ',,.'%- <,V11;,':',#;!,",,,,,41;..1 ,,,.,,,,;;;Of , ' ''''" ., " '4,;@, ..,,:/,'..' • 41* ' -.,,,,„-,,,,,',.' '-. ,- ,, ' -'-•, - , -,,..,...-/- ,. . - -'- ..,- ,-, ...„ ;, g,,,,, ,^ot% .' ' --..,-,-,tletw- 4. ' ',,,,W "AT, -::.,',., ' - '''' '''..i '' '-.7jtiti...-- '''''''-.7,3i'- '4,74tC41:, -:: .,.•1,-.4. , ./''' 4, - - . - ,,. .e,,k, '.., -''.:1:. '',:‘, ' ''''''''-'4, "- :,.`-,'', ' '' ---''''T''''-'1iti.:3:1'"• -:,--:''''',.'s'. f° Au '':•"`,.,:--'1,,..1-.,,;---' 1,- .- .-,,iti,e-kisi,,,0%al.- -,i,-,,,... vi. Illinois Pond Weed in Lakes: No issues observed. vii. MUSkgraSS(Chara) in Lakes:2,5,8, 9,10, &14. Lake 2 Lake 14 ? -''''',•:$4.:;:. 4. ,.... ..--,‘4-,:-,,,,,,, •it,-47„;` °--,i':-,t•-' ,;' ''.''',-1. ;.-, ,-,4t,„,,, ' ,..,,,r,,s,,,, ,'-2‘..v,'''.:',-11',1-..t, ,,'•,' 7%.*—:' ''''A'—'":::`;:: * ' ''' — It Wit, ,4--,,, ',. .-icit-:-'-,'-'.'::4';:;44v., l'!"'-','.-'?:' - 1,..• 'AP' --`-(' ''''''''''' ,,-- '-,, ''.'4'—!' ,,I.,'"'5t,,,l',.'--_,:--,•:''4.' 7,,,,,---, ' v 3.-7 4`;', -.if,*,---.- -.--,„ viii, Palms on Lake Banks: No issues observed. ix. Sedges in Lakes: No issues observed. x. Spatterdock/Lily Pads in Lakes: No issues observed. xi. Torpedo Grass in Lakes: No issues observed. .. - 3 Severn Trent Yearly Management Report f. Erosion on Lakes: i, There are several pool drains behind homes that are ran down close to the lake banks and pose a possible erosion issue as well as a water quality issue.The drain lines should likely .:- _:-!1:'1:X4 ,7.,,.,s1.,,,,i,,h:,.',,,, 4',;-,,,4',,,,-4 be cut higher up the banks,within the homeowner's property,to prevent these issues and allow any discharged pool water to percolate properly through the ground. L 3 KTP ,, ,rt,,., r i. : . yam,`. L , :ter. ii„ The southwest corner of lake 2 appears to have some erosion at the base of the rip rap as the filter fabric has become uncovered. No significant issue is present, but fill possibly from cleaning out the adjacent flared end should be added on top of the fabric. ,,,',-.7* Y,,, ..,:iit)D'''-' . ...4!* ,:i#A4*47.* ' � m+.. iii. There is a hole between 3861 and 3865 Wax Myrtle Run on the east bank of lake 9 that should be filled to prevent additional erosion from developing. Y Severn Trent Yearly Management Report 4 g. Bulkheads/Bridges: No new issues observed. h. Grass Clippings in Lakes:The landscapers were observed trimming the hedge adjacent to the east bank of lake 11 and Collier Boulevard.To dispose of the trimmings,a mower was mulching the trimmings,and they were being blown towards the lake.Additional organic loading of the lakes should be avoided if at all possible to minimize impacts to water quality and favorable conditions for algae blooms from developing. Trash in Lakes: An object was noticed at the northeast end of lake 5 on the north portion at the intersection of Cedar Hammock Boulevard and Cedar Hammock Circle.It appears to be some form of a traffic sign from the outline. No other issues observed. � �nYjh s i JY K Y 4a.S 4 ( amu j. Dissolved Oxygen(D.O.)Tests: Lakes that were tested are doing well with their dissolved oxygen levels. Environmental factors such as temperature,wind,sun or clouds can cause changes to the D.O.level to occur. Severn Trent Yearly Management Report 5 Cedar Hammock CDD Water Testing Results 4/28/2017 Lakes Dissolved Oxygen Lake 1 6.43 Lake 2 5,93 Lake 3 6.40 Lake 7 4.81 Lake 10 6.96 Lake 13 6.97 2. Guard House: 1 The window grille inserts are beginning to wear out and may need to be replaced soon as some of the pieces are missing or crooked.Other minimal wear and tear observed. ,i' A '`'.„'',-:•-[..;''''Yi 4x 3. Lighting No issues observed. 4. Pier An Earleaf Acacia, listed as a Category I invasive exotic on the 2017 Florida Exotic Pest Plant Council's list of invasive plant species,was observed just northeast of the pier boardwalk.According to the Collier County Requirement for Removal of Prohibited Exotic Vegetation(section 3.05.08) this tree should most likely be removed. No other issues were observed with the pier. Severn Trent Yearly Management Report 6 � 4 5. Preserves Issues remain with invasive exotics on the northwest border of C-2 as juvenile trees are beginning to mature.The visible number of exotics has increased from the inspection in October 2016.These trees should be removed to prevent the establishment of a seed source within the preserves. "' t $ ` ti t V.04 - lY ,h-X SYR mi 6. Roadways The new paving project at the time of last inspection was proceeding along very well. PMI had minor issues during the project,but addressed them and corrected the deficiencies.Club staff has installed new root barrier at the end of Cedar Hammock Circle,striping has been performed,and all workmanship pertaining to the paving appears to be of good quality.The other roadways appeared to be mostly unchanged with the exception of the east end of Cedar Hammock Boulevard and the cul de sac of Cedar Hammock Court where alligator cracking is beginning to be noticeable. Severn Trent Yearly Management Report 7 ' i r. 4 S e r Cedar Hammock Boulevard y `, '"7 ° P' 7 ` . .'moi�' @,�` ,, ,,,. .yam a 2 aa 5 �'. `� f 3 a i% a C.` „ :„..,,,,,,,„:.,,,,,,,,,,,/,,,,,,,,,,,,,..,,fi �s�...a°''� ate ,f. Cedar Hammock Court r lis ti< S; r� -r. x ,ice$' i3.„,, 4 4 t� "" �» 1ia tet - y:3 .'a x -: " 3a ' L �l x � �a? � .i✓ r d� , , "gym N,,, , .. '`,,_ 7. Security Cameras Training on how to use the rear camera system may be beneficial for the guards.During the inspection the cameras were not present on the screen,however,with minor adjustment three of the four camera feeds were able to be placed on the screen.A technician may be necessary to get the fourth feed running again. Severn Trent Yearly Management Report 8 !„ - -',:' ,'';‘-'.' .'4,0-.;:'-'4*.' 7i4 , ' ', ,:,i � pp m i 1 n � ,i , { t , �:. a:r 8. Sidewalks No issues observed. 9. Stormwater System a. Canals:The cattails and melaleuca trees have been removed.The canal is clean and ready for the rainy season. :4*,i, ' A , t Y " 5 T' + ,A. =�.§ ? ,14 iC :� �', .,+4,''''''':1144'''''.4,;;-'''',.,z,#4-'::;; ,4 _ -, c„r, ' S"'Ks, Tr. � � A ..,:JYom` �w.ap.. b. Drains: I. The drain for the tennis courts leading to lake 2 appears not to be functioning properly. There should be a catch basin to capture the tennis court sediment, but presently this sediment is being allowed to enter the lake and is beginning to accumulate in the lake and around the flared end. Severn Trent Yearly Management Report 9 , .... , , , , . . . , .. .._. „ , . , ,.. .. .. , .., , , _ , _ , 1 , 7 4 ,y `�"tr '-'",r-;tc''',,.'4 ''''','',,.;'' '''''''''''''''' ' ,,,4 4,,, t s 4 .., ...,,, ,,,,,,,L,4-..4 -,:k11,..:Lis. � ' a ' • w ,,. ;=-, sp, x � _ fir.., '' , ? p C. Gutter Pans: No issues observed. d. Interconnect Pipes; i. Lake 2/3:The interconnect has minimal sediment and rocks at the flared ends and should likely be cleaned out to prevent additional debris from building up in the pipe. ffi� ":, slpw'--. vL'k e , ,...,..- !.,.-,..7...,,,, - - %ii,„x?-,-t.... ...4,..-A. .. ,-„,.„5. t, •''' -4,,-,1...i a ' ` L. lAto, Severn Trent Yearly Management Report 10 ii. Lake 15/15:The interconnect has sediment buildup in the pipe visible on the Lake 16 side that should likely be cleaned out to prevent additional buildup from occuring. <. g tea . iii. Preserve C-1/C-2: Large rocks remain blocking a few of the pipes under Cedar Hammock Boulevard and should be removed in order to maintain proper water flow between the two preserve sections. 5 K A36Y+ �1 `e Sj mo +h' i '�. e. Lake Drainage Pipes: There are a few pipes on the north bank of lake 5 near the cul de sac of Cedar Hammock Court that could be addressed.One of the pipes could be extended further into the lake and buried to minimize erosion of the lake bank while the water level is low.The other pipe could be buried, possibly extended further into the lake,and the slope regraded as well. Severn Trent Yearly Management Report 11 .eta � L�'.+` ''SS rte '' �: ,�� " n 7'71.,:,:---,:!::::,,,,--',1c.- . „ �,r�. x f" � 4 !! ?‘......--.--,'-,,,,A.,-..-- 00.,...,:',-.(4 � rho r_ f, OverflowWel No issues observed. L'-`i,,,,. �-.�u`x"',� iy?,u. � u ,� � ^rpt j gid. IN:.,,,,,,A''''f, ',*-'"'..-'-- ,,,,,„a--V,%',.''',V,.:. t.... ,..%%0,---1, .;:,.‘' s . Catch Basins: i. Lake 2:The southwest drain is beginning to bea clogged at the flared end of the pipe.The bulrush and the sediment should be scraped back to allow better water flow. Severn Trent Yearly Management Report 12 -.*.irttr-:7-14::::`,' z ., s` i!. Lake 3:The rocks at the flared ends of the pipes connected to the catch basins at the entrance to the clubhouse should be cleaned out to prevent additional sediment from building up. s 0 * -ep *, _s 10. Wells The discharges for wells#4 and#6 have been extended further into the lakes as previously requested.Well#6 appears to be leaking from a valve when it is running.This has been reported to the vendor to ensure there is no issue. During the inspection last October it was observed that the requested outlet had not been installed at the meter for well#6.This was reported to the vendor and the new outlet was observed during the most recent inspection.All other wells appeared to be in good working order. Severn Trent Yearly Management Report 13 Well#2 - . .4. .,.: , Weil#1 . ' .4.... ._ . . . . . . ,..,,,,,„14..14:4,,,,'4,4,1";,:,..7 -,-„,,,,..,e-e, _ , : ;., --,''''",,,,,-.'T;,,,i, ,, , "5 ' - - , '.,,*-,i,',..t.--,-4.:.,,':5;'=:,--..' ''""1".- ---'''' ' ,-- ,,, i,- ::.,.,-:..41,-: ..'- 1,;.,j• ," 1,1,00",.-10 4i-::):,-..4*:-.r,;., :',,,,,-,7„., ,_,:',c.,;:.,. :4-i;,,,' r „ 4,..,,,e,,1„ ,,,,,,-- „_,7.-../.,,,,,, Weil#4 t4:: ';',:-.,' .4",,, ,.„,-,,'-;:,*7, -'. •,.;,,t4., ,•_.„-It., ‘t 1. 4):?'' ',, I" ' -,`,';';--...,, ',.. Z.::; N.-,.-•,-,%-,- ' r.---,,°.,4t.'2°, , . :,--F• ',..-`;..'4-14-'''' '. -'1fr,.v - ' 1.,'','"'''t;kI.-rs ^.,—°.--,,," • ' , ' 55 -e. W,; 4" "-- :-,..-' .:',.'",-1,E'-'="'-",-"' Well#6 ,;, .„ ,-,-,...•;" ,- ',., ::::`,C5,,,,"r"*'',' '''. „ ,4.,;.,:f''' '''3'.'' ”'*:1.' • '...,;'''''', 't '.., ;.'..4a..1...Vril,'-`.1r ,... 0.7,,. , . ,,,,,, -A74. '..,,,,'fr•-. 2-''''..--4S, ,, ',.1,k-'i 't..'''' -.`:' atvt .:;'-:',-; 5:,"°1-'5---'',4'"','.'5,'4'z'1-1-7',,4-'.'-.'"-W`v','"-,_.c,.-/w',,.'1,f;"$,..,,,':,t,-'''-,,,e''',',.'..„:--.=1,1'7-'4"-'€-:'-','°'''-'''''-'t.'.''-.5`-4,'.11:•,'1,7 3,'6-'.'''1"'''.'1,r.5'.!.-... 1p-,'5',-7'.;0'k.,''.,\.,;°.'0:'i.'.''".''('-"i'::c:''f'.:';5',-5*-'le'':'r:*!?i- , ,5' ' - - Severn Trent Yearly Management Report 14 , '14 gill • -4Elt 7„, • - A 11. Residential Complaints/Concerns No issues reported. 12. Fish/Wildlife Observations One dead fish was observed on the bank of lake 3.Active wildlife was seen throughout the property. 444- *14,tc'''''',04114'.,' • - 4 A,. • Yot,V).'fi'e74iZ '14C 1‘ 4 • 17• i•:"4-v,!• 116-VA •4- 41414444.t&"4.4i „Z44.-;, 4.06 'AION,M4iStrig)#',* 1=}Bass El Bream 0 Catfish LI Gambusia [ZI Egrets 0 Herons LI Coots Gallinules EAnhinga El Cormorant El Osprey Ej Ibis Woodstork [ZI Otter El Alligator []Snakes E Turtles Other Species:Tilapia(pictured above right) 13. Non CD[) Items No issues observed. Severn Trent Yearly Management Report 15