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07/08/2020 Minutes 16I 1 MINUTES OF MEETING CURRENTS COMMUNITY DEVELOPMENT DISTRICT The Regular Meeting of the Board of Supervisors of the Currents Community Development District was held on Wednesday,July 8, 2020 at 1:30 p.m., at the Offices Coleman,Yovanovich and Koester,4001 Tamiami Trail North, Suite 300, Naples, Florida 34103. Present and constituting a quorum: Charles Cook Chairperson Ryan Futch Vice Chairperson Robert D. Summers, II Assistant Secretary Brian Keller Assistant Secretary Also present were: James P.Ward District Manager Greg Urbancic District Counsel Jeremy Fireline Audience: All resident's names were not included with the minutes. If a resident did not identify themselves or the audio file did not pick up the name,the name was not recorded in these minutes. PORTIONS OF THIS MEETING WERE TRANSCRIBED VERBATIM. ALL VERBATIM PORTIONS WERE TRANSCRIBED IN ITALICS. FIRST ORDER OF BUSINESS Call to Order/Roll Call District Manager James P. Ward called the meeting to order at approximately 1:58 p.m. He reported with the State of Emergency in Florida, and pursuant to Executive Orders 20-52, 20-69, 20-112, 20-114, and 20-150 issued by Governor DeSantis on March 9, 2020, March 20, 2020,April 29, 2020, May 8, 2020, and June 23, 2020, and pursuant to Section 120.54(5)9b)2., Florida, Statutes, this meeting was held utilizing communication media technology due to the current COVID-19 public health emergency. He explained all Members of the Board and Staff were present via videoconference or telephone; no persons were present in the on-site meeting room location. He asked all speakers to state their names for the record prior to speaking. He conducted roll call;all Members of the Board were present constituting a quorum. SECOND ORDER OF BUSINESS Consideration to fill Seat 5 Consideration to fill Seat 5,formerly Mr.Tim Martin whose resignation took effect January 29,2020 Mr. Ward indicated this was a carryover Item from the previous Meeting. He asked if the Board was prepared to appoint a new Member. He noted if not, this Item could again be continued until the next Meeting. 1iPage 16I1 Currents Community Development District July 8, 2020 Mr. Charles Cook recommended continuing this Item until the next Meeting. The Board agreed;the Item was continued. I. Appointment of individual to fill Seat 5,whose term is set to expire November 2021 II. Oath of Office III. Guide to the Sunshine Law and Code of Ethics for Public Employees IV. Form 1—Statement of Financial Interests THIRD ORDER OF BUSINESS Consideration of Resolution 2020-13 Consideration of Resolution 2020-13 re-designation the Officers of the District Mr.Ward indicated due to the previous Item being continued,this Item would also be continued until the next Meeting. FOURTH ORDER OF BUSINESS Consideration of Minutes May 13, 2020 Regular Meeting Mr.Ward asked if there were any corrections,additions,or deletions of the May 13,2020 Regular Meeting Minutes; hearing none, he called for a motion to approve the Minutes. On MOTION made by Mr. Brian Keller, seconded by Mr. Charles Cook, and with all in favor, the May 13, 2020 Regular Meeting Minutes were approved. FIFTH ORDER OF BUSINESS Consideration of Resolution 2020-14 Consideration of Resolution 2020-14, a Resolution of the Board of Supervisors of Currents Community Development District Authorizing the Acquisition of certain Potable Water and Wastewater Utility Facilities from the Developer,Taylor Morrison of Florida, Inc.,and Authorizing the conveyance of such Potable Water and Wastewater Utility Facilities to Collier County;Authorizing the Chairman or the Vice Chairman (in the Chairman's absence)to Execute such conveyance documents to the extent necessary to evidence the District's Acceptance and Conveyance Mr. Ward reported Resolution 2020-14 authorized the acquisition of certain wastewater utility facilities from the developer,Taylor Morrison, authorized the conveyance of these facilities to Collier County, and authorized the various documents to be signed by the Chairperson or Vice Chairperson for the District. Mr. Urbancic: We are going to see a couple more almost identical to this. Essentially you have the standard Collier County conveyance documents which are to make sure the utilities hit the District(water and sewer utilities) with one step to convey it to the District, and then onto the County. Then everything else is ancillary backup information to the requisition. This would be a future requisition once we fund the 2IRage tb % Currents Community Development District July 8, 2020 bonds. So, it's memorialized by the fact that there is a note pursuant to our existing acquisition agreement that we approved at the last meeting. Really, there are just the ancillary documents which go along with this just to convey title,show how much was paid, the backup information regarding contracts, where it's located, and those types of matters. Mr. Ward: Just for the record, I see we have this as an authorizing Resolution, but this has already been done and signed pursuant to previous authorization that the Board has in place, so this is really a ratification of actions that had been previously taken. Mr. Ward asked if there were any questions or comments; hearing none, he called for a motion. On MOTION made by Mr.Charles Cook,seconded by Mr.Rob Summers, and with all in favor, Resolution 2020-14 was adopted, and the Chair was authorized to sign. SIXTH ORDER OF BUSINESS PUBLIC HEARINGS Mr.Ward indicated the next order of business was the public hearings with respect to the Fiscal Year 2021 Budget for the District. a. PUBLIC HEARING—FISCAL YEAR 2021 BUDGET I. Public Comment and Testimony Mr. Ward called for a motion to open the Public Hearing. On MOTION made by Mr. Brian Keller, seconded by Mr. Charles Cook, and with all in favor,the Public Hearing was opened. Mr.Ward noted this was the opportunity for any members of the public present by phone or video conference to ask questions or make comments with respect to the Budget. He indicated he saw no members of the public on video conference. He asked if there were any public comments or questions;hearing none,he called for a motion to close the Public Hearing. On MOTION made by Mr. Brian Keller, seconded by Mr. Charles Cook, and with all in favor,the Public Hearing was closed. II. Board Comment Mr. Ward indicated he transmitted a revision of the proposed Budget for Fiscal Year 2021 to the Board earlier in the day. He explained the primary change in this revision was to remove a number of the operating items which would continue to be handled by the developer during the permitting and compliance portion of the stormwater management preserve section. He stated the revised Budget included revised assessment levels for administrative operations and some minor operations related to the maintenance of the lake systems within the District. He indicated Wage tb Currents Community Development District July 8, 2020 it was important to note that the Budget was being levied over all 1,250 property units in the District and contemplated assessment levels ranging from $80.70 dollars per unit for multifamily units up to$197.46 dollars per unit for the 70 to 80 foot property line units. He noted contained within the Budget were also full buildout estimates, as if the District were in full operation at completion of construction of the project, and those assessment levels were substantively different than what would be adopted today. He explained these full buildout assessment levels were for reference only and would be updated on a yearly basis going forward. He reported the Debt Service Fund Budget was the same as previous; it contemplated the repayment of the bond anticipation note in place and the interest due next year. He stated at this moment it was anticipated this would be fully paid before Fiscal Year end, but for purposes of the budget today it was included. He explained at some point there would be an opportunity to amend the Budget for next year. He asked if there were any questions or comments from the Board; there were none. III. Consideration of Resolution 2020-15 adopting the annual appropriation and Budget for Fiscal Year 2021 Mr. Ward called for a motion for Resolution 2020-15 with the amended Budget provided to the Board. On MOTION made by Mr.Charles Cook,seconded by Mr.Rob Summers, and with all in favor, Resolution 2020-15 was adopted as amended,and the Chair was authorized to sign. b. FISCAL YEAR 2021 IMPOSING SPECIAL ASSESSMENTS; ADOPTING AN ASSESSMENT ROLL, APPROVING THE GENERAL FUND SPECIAL ASSESSMENT METHODOLOGY AND SETTING AN OPERATIONS AND MAINTENANCE CAP FOR NOTICE PURPOSES ONLY Mr.Ward stated the amounts contained in the exhibits for Resolution 2020-16 would be amended to correspond to the adopted Budget just approved pursuant to Resolution 2020-15. He stated Resolution 2020-16 put into place the assessment levels and authorized the assessments to be placed on the tax rolls this coming November. I. Public Comment and Testimony Mr. Ward called for a motion to open the Public Hearing. On MOTION made by Mr. Brian Keller, seconded by Mr. Charles Cook, and with all in favor,the Public Hearing was opened. Mr. Ward asked if there was any public comment or testimony; hearing none, he called for a motion to close the Public Hearing. On MOTION made by Mr. Charles Cook, seconded by Mr. Brian Keller, and with all in favor,the Public Hearing was closed. II. Board Comment 4IPage to I Currents Community Development District July 8, 2020 There was no Board Comment. III. Consideration of Resolution 2020-16 imposing special assessments, adopting an assessment roll,and approving the general fund special assessment methodology On MOTION made by Mr. Charles Cook, seconded by Mr. Ryan Futch, and with all in favor,Resolution 2020-16 was adopted as amended,and the Chair was authorized to sign. IV. Consideration of Resolution 2020-17 setting an operations and maintenance cap for notice purposes only Mr.Ward reported Resolution 2020-17 took the assessment rates adopted pursuant to Resolution 2020-16 and set in place a cap rate which if the District exceeded would then require the District to do mailed notice to all property owners in the District. He stated this was an optional Resolution which was recommended in order to ensure mailed notice did not need to be sent out annually. He asked if there were any questions; hearing none, he called for a motion. On MOTION made by Mr. Brian Keller, seconded by Mr. Charles Cook, and with all in favor, Resolution 2020-17 was adopted, and the Chair was authorized to sign. SEVENTH ORDER OF BUSINESS Resolution 2020-18 Consideration of Resolution 2020-18 designating dates,time,and location for regular meeting of the Board of Supervisor's for Fiscal Year 2021 Mr.Ward stated Resolution 2020-18 set the Board Meeting dates,time and locations for Fiscal Year 2021. He noted the dates, times and locations were not fixed and could be changed, added to, or subtracted from as the Board deemed appropriate. He indicated Meetings were scheduled for the second Wednesday of every month at 1:30 p.m. at the Offices Coleman,Yovanovich and Koester,4001 Tamiami Trail North,Suite 300,Naples,Florida 34103. He suggested changing the meeting time to 2:30 p.m.;there was no objection from the Board. He noted the schedule set the meetings for every month, but meetings would only be held as needed. Discussion ensued regarding the dates of future meetings, holding a meeting on July 21,2020 for the pending bond issue,and advertising the July 21,2020 meeting separately from this Resolution. Mr.Ward asked if there were any additional questions; hearing none, he called for a motion to adopt the Resolution as amended. On MOTION made by Mr.Charles Cook,seconded by Mr.Rob Summers, and with all in favor, Resolution 2020-18 was adopted as amended,and the Chair was authorized to sign. Wage Pagr 1611 Currents Community Development District July 8, 2020 EIGHTH ORDER OF BUSINESS Consideration of Proposals Consideration of proposals for providing Audit Services to the District for the Fiscal Years 2021-2025 Mr.Ward stated the next Item on the Agenda was consideration of Audit Proposals for the District for the Fiscal Years 2021 through 2025. He explained pursuant to Florida Statute the District advertised for Proposals; Requests for Proposals were sent to a number of auditing firms including Berger, Toombs, Elam, Gaines & Frank, Dufresne & Associates, Grau & Associates, Keefe, McCullough & Company, McDirmit Davis & Company, and Carr Riggs & Ingram. He reported two Proposals were received: one from Grau&Associates and one from Berger,Toombs,Elam,Gaines&Frank. He noted an auditor analysis form was included in the Agenda Packet. He indicated he prepared a draft of the auditor analysis form which ranked the audit firms by evaluating mandatory elements, technical qualifications, and price. He indicated the Board was not required to utilize the ranking provided by himself of the audit firms; it was a guide only. He stated both firms met the mandatory elements equally; in technical qualifications Grau rated slightly higher than Berger(this was a personal opinion in that he believed Grau's Staff was better than Berger's); and with respect to price Grau estimated $16,000 dollars and Berger estimated $21,400 dollars. He noted this was a substantial difference in pricing. He indicated according to the analysis Grau was ranked #1, and Berger was ranked #2; the Board was free to adopt the ranking of the firms as presented or change the ranking as deemed appropriate. He asked the Board to discuss the matter. On MOTION made by Mr. Brian Keller,seconded by Mr. Rob Summers, and with all in favor,Grau was ranked as the#1 audit firm and Staff was authorized to enter into an agreement with Grau. NINTH ORDER OF BUSINESS Staff Reports a)District Attorney No report. b) District Engineer No report. c)District Manager a. Financial Statements—June 30,2020(Unaudited) No report. TENTH ORDER OF BUSINESS Supervisor's Requests and Audience Comments Mr. Ward asked if there were any Supervisor's requests or audience comments;there were none. Wage � 6I Currents Community Development District July 8,2020 ELEVENTH ORDER OF BUSINESS Adjournment Mr.Ward adjourned the Meeting at approximately 2:19 p.m. On MOTION made by Mr. Brian Keller,seconded by Mr. Charles Cook, and with all in favor,the meeting was adjourned. Currents Community Development District • //J1/ �/ James PiWard,Secretary Char! s Cook, airperson 7IPage