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08/11/2021 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,August 11, 2021, at 2:00 p.m., at the Offices of Coleman,Yovanovich and Koester, 4001 Tamiami Trail North,Suite 300, Naples, Florida 34103. Present and constituting a quorum: Ricky DeCamps Vice Chairperson Brian Keller Assistant Secretary Robert D. Summers, II Assistant Secretary Ryan Futch Assistant Secretary Absent: Charles Cook Chairperson Also present were: James P. Ward District Manager Greg Urbancic District Counsel Jackie Larocque District Engineer David Caplivski Grau and Associates 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 2:04 p.m. He conducted roll call; all Members of the Board were present, with the exception of Supervisor Charles Cook, constituting a quorum. Supervisor Ricky DeCamps was present via telephone. SECOND ORDER OF BUSINESS Notice of Public Hearing Notice of Advertisement of Public Hearing THIRD ORDER OF BUSINESS Consideration of Minutes Wage 16I1 Currents Community Development District August 11, 2021 June 9, 2021, Regular Meeting Mr. Ward asked if there were any corrections, additions, or deletions for the Regular Meeting Minutes; hearing none, he called for a motion to approve the Minutes. On MOTION made by Mr. Brian Keller, seconded by Mr. Rob Summers, and with all in favor, the June 9, 2021, Regular Meeting Minutes were approved. FOURTH ORDER OF BUSINESS PUBLIC HEARINGS Mr. Ward explained the public hearing process including public comment, Board discussion and vote. a. PUBLIC HEARING—FISCAL YEAR 2022 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. Rob Summers, and with all in favor,the Public Hearing was opened. Mr. Ward asked if there were any members of the public present via audio or video with any comments or questions with respect to the Fiscal Year 2022 Budget; hearing none, he called for a motion to close the public hearing. He noted there were no members of the public present in person. On MOTION made by Mr. Brian Keller, seconded by Mr. Ricky DeCamps, and with all in favor,the Public Hearing was closed. II. Board Comment Mr. Ward asked if there were any Board comments or questions;there were none. III. Consideration of Resolution 2021-10 adopting the annual appropriation and Budget for Fiscal Year 2022 Mr. Ward called for a motion. On MOTION made by Mr. Brian Keller, seconded by Mr. Rob Summers, and with all in favor, Resolution 2021-10 was adopted, and the Chair was authorized to sign. b. FISCAL YEAR 2022 IMPOSING SPECIAL ASSESSMENTS; ADOPTING AN ASSESSMENT ROLL AND APPROVING THE GENERAL FUND SPECIAL ASSESSMENT METHODOLOGY 2I 6I1 ,4 Currents Community Development District August 11, 2021 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. Rob Summers, and with all in favor,the Public Hearing was opened. Mr. Ward asked if there were any members of the public present via audio or video with any comments or questions regarding the assessments or assessment methodology for FY-2022; hearing none, he called for a motion to close the public hearing. He noted there were no members of the public present in person. On MOTION made by Mr. Brian Keller,seconded by Mr. Rob Summers, and with all in favor,the Public Hearing was closed. II. Board Comment Mr.Ward asked if there were any Board comments or questions;there were none. Ill. Consideration of Resolution 2021-11 imposing special assessments, adopting an assessment roll,and approving the general fund special assessment methodology Mr. Ward called for a motion. On MOTION made by Mr. Brian Keller,seconded by Mr. Rob Summers, I and with all in favor, Resolution 2021-11 was adopted, and the Chair was authorized to sign. FIFTH ORDER OF BUSINESS Consideration of Resolution 2021-12 Consideration of Resolution 2021-12 designating dates, time, and location for regular meeting of the Board of Supervisor's for Fiscal Year 2021 Mr. Ward noted the meeting dates, time, and location were scheduled for the second Tuesday of each month at 2:00 p.m. at the Offices of Coleman, Yovanovich and Koester, 4001 Tamiami Trail North, Suite 300, Naples, Florida 34103. He noted these meeting dates could be adjusted as the Board deemed appropriate. On MOTION made by Mr. Brian Keller,seconded by Mr. Rob Summers, and with all in favor, Resolution 2021-12 was adopted, and the Chair was authorized to sign. SIXTH ORDER OF BUSINESS Consideration of Resolution 2021-13 3 ' Page 6I 1 ' .1 Currents Community Development District August 11, 2021 Consideration of Resolution 2021-13,a Resolution of The Board of Supervisors of Currents Community Development District: (i) 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; and (ii) 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. Greg Urbancic: This was what was called Phase 1C, water and sewer transfer acceptance and then conveyance to Collier County. Standard forms are already signed in the packet and are processing, so this is more of a ratification for us, but the important part is there could be payment from construction funds later because we don't have any construction funds at this time. There is a note that this is part of this package, that we could pay the developer at the next financing. He asked if there were any questions. Mr. Keller: Jackie, does not having certification affect us at all? With Real Pods not having the final certification, that doesn't affect this, correct? Ms. Jackie Larocque: We have utility certification, which is the only infrastructure which the District has taken. Mr. Keller: What's the timing of it? Ms. Larocque: It's already complete. The utility certification is complete. It's the site certification we don't have. On MOTION made by Mr. Brian Keller,seconded by Mr. Rob Summers, and with all in favor, Resolution 2021-13 was adopted, and the Chair was authorized to sign. SEVENTH ORDER OF BUSINESS Consideration of Acceptance Consideration of the Acceptance of the Audited Financial Statements for the Fiscal Year ended September 30, 2020 Mr.Ward stated Mr. David Caplivski with Grau and Associates would review the Audit. Mr. David Caplivski with Grau and Associates reviewed the Audited Financial Statements for the Fiscal Year ended September 30, 2020. He reported the audited opinion was a clean, or unmodified, opinion. He reported the governmental net position reflected the liabilities exceeded the assets of the District resulting in a net position deficit balance of$4.7 million dollars. He stated the change in the total net position from the prior year was a decrease of $4.7 million dollars; as of September 30, 2020, the governmental funds reported combined ending fund balances of$2.2 million dollars. 4IPage 16I 1 Currents Community Development District August 11, 2021 Mr. Ward: I just wanted to point out for the Board that the decrease was caused by a contribution of utility assets from the District to Collier County and some small amount was related to the cost of issuance related to your Series 2020 bonds. Mr. Caplivski agreed. He stated in regard to compliance reports, at the end of the financial statements, the District received a clean, or unmodified, report which indicated no material weaknesses or significant deficiencies were noted in the internal control over financial reporting. He stated there were no findings or recommendations reported. He noted the date on the report was June 21, 2021, which was within the required deadline and the report had been submitted to the State within the required deadline as well. He asked if there were any questions. Mr. Ward noted the Audit had been filed as a matter of law with the Auditor General and the Department of Banking and Finance. He asked if there were any questions; hearing none, he called for a motion. On MOTION made by Mr. Brian Keller, seconded by Mr. Rob Summers, and with all in favor, the Audited Financial Statements for the Fiscal Year ended September 30, 2020,were accepted. EIGHTH ORDER OF BUSINESS Staff Reports I. District Attorney Mr. Greg Urbancic: With the new law that was passed we have to do a storm water needs analysis by the end of next summer,July 31, 2022. I know that the State is looking to standardize how that is going to be done, but any special district which owns and operates a storm water system has to do one. It's going to be primarily engineering driven and a little management driven. I wanted to make that note so Jackie knows primarily that we will have to do that. And once the State creates the form, I think that's what we'll use. What happens is we have to submit it to the County; the County gathers them all together and submits them to the State. That's still yet to come but will have to be done. It's looking at what our storm water system is, what we expect to be capital improvements, that sort of stuff,for the whole development. Mr. Ricky DeCamps: Jackie, do you see any problem with that? Ms. Jackie Larocque: Not off the top of my head. We just have to get that one thing worked out on the ERP side. II. District Engineer No report. III. District Manager a) Financial Statements for period ending April 30,2021 (unaudited) b) Financial Statements for period ending May 31,2021(unaudited) Wage 16I 1 Currents Community Development District August 11,2021 c) Financial Statements for period ending June 30,2021(unaudited) d) Financial Statements for period ending July 31,2021(unaudited) No report. NINTH ORDER OF BUSINESS Supervisor's Requests and Audience Comments Mr. Ward asked if there were any Supervisor's requests; ther0 were none. He asked if there were any members of the public present via audio or video,or in person,with questions or comments;there were none. Mr. Ward: I do have one other thing. This is consideration of Resolution 2021-14. Last year when we issued the 2020A bonds we had already adopted the Fiscal Year 2021 Budget. In order to reform the Budget for this District for the last fiscal year to the 2020 band issue 1 have revised the debt service budgets for both your 2020A and your 2020B bonds to ensure that they are now consistent. The only reason I do this is to ensure that the auditor has a way to track what was done from budget year to budget year. He asked if there were any questions; hearing hone, he called for a motion. Resolution 2021-14 amends your fiscal year 2021 budget. On MOTION made by Mr. Brian Keller, seconded by Mr. Ryan DeCamps, and with all in favor, Resolution 2021-14 was adopted, and the Chair was authorized to sign. TENTH ORDER OF BUSINESS Adjournment Mr.Ward adjourned the Meeting at approximately 2:20 p.m. On MOTION made by Mr.Brian Keller,seconded by Mr. Rob Summers, and with all in favor,the Meeting was adjourned. WITNESS: Currents Corn nity D Iopment District /1-rind James P Ward,Secretary Char s Cook, a rperson Wage