04/25/2017 Minutes � 6I1 '4
MINUTES OF MEETING OF THE
FLOW WAY COMMUNITY DEVELOPMENT DISTRICT
The Regular Meeting of the Board of Supervisors of the Flow Way Community
Development District for Tuesday, April 25, 2017, at 3:00 p.m., at the Offices of
Coleman, Yovanovich & Koester, P.A., 4001 Tamiami Trail North, Suite 300,
Naples, Florida 34103.
Present and constituting a quorum were:
Dave Truxton Chairman
Anthony Burdett Vice Chairman
Chris Nirenberg Assistant Secretary
Skip Adams Assistant Secretary
Absent were:
Steve Reiter Assistant Secretary
Also Present were:
James Ward (via telephone) District Manager
Greg Urbancic District Counsel
David Willems District Engineer
Audience:
Drew Miller Taylor Morrison
1. Call to Order& Roll Call
Mr. Ward called the meeting to order at 3:20 PM, and roll call determined that all
members of the Board were present with the exception of Supervisor Reiter.
2. Consideration of Minutes
Mr. Ward called for the approval of the minutes of the March 21, 2017 meeting.
He asked if there were any additions, corrections or deletions. Hearing none, he called
for approval.
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Flow Way Community Development District April 25,2017 1 V I
Motion was made by Mr. Truxton and seconded by Mr. Adams to accept the
Minutes of the March 21, 2017 meeting, and with all in favor, the motion was
approved.
3. Public Hearing Imposing Special Assessments on Certain Annexed Lands
within the District, More Commonly Known as the Dilillo Annexation
a) Public Comment and Testimony
Mr. Ward stated this item was the main purpose of their meeting today. He
said the process began about a month ago, and today the Board would be
levying assessments pursuant to Chapters 170, 190, and 197 of the Florida
statutes to levy those assessments. He said in 2016 bonds were issued and
a sub-account was set up for funds to construct the infrastructure required for
the lands that were being annexed within the boundaries of the District.
Mr. Ward explained that normally first there would be a staff presentation of
the engineering aspects and the methodology. However, the Board had seen
this presentation when the last set of bonds were issued, and the information
was consistent with all the bonds issued. He said he was not going to do the
presentation again unless the audience requested it be done.
Mr. Ward called for a motion to open the public hearing
Motion was made by Mr. Truxton and seconded by Mr. Adams to open the public I
hearing, and with all in favor, the motion was approved.
Mr. Ward stated that he had not received any written comment or testimony
with respect to the public hearing today. He asked the District Attorney to
confirm that there were no members of the public present for the public
hearing. Mr. Urbancic confirmed this.
Motion was made by Mr. Truxton and seconded by Mr. Adams to close the public
hearing, and with all in favor, the motion was approved.
b) Board Comment and Consideration
Mr. Ward called for any comments from the Board with respect to the special
assessments for the Dilillo annexation piece, and there was no discussion.
c) Consideration of Resolution 2017-10
Mr. Warded stated this resolution authorized the projects and the construction
and acquisition of the infrastructure improvements. He said it equalized,
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Flow Way Community Development District April 25,2017
approved, confirmed and levied special assessments on the property and
authorized the District to pay for the costs of those projects. He added it
provided for the method of assessment pursuant to Chapters 170, 190, and
197 Florida Statutes and confirmed the District's issuance of the special
assessment bonds, provided for True-Up payments in the event that there
were land use changes that occurred within the Dilillo annexation property.
He said it also provided for the transfer of any property to other governmental
bodies, specifically utilities.
Mr. Ward stated that the resolutions that were in front of the Board were
consistent with what had been used in the past for all of the other series of
bonds that had been issued for the District. He called for questions, hearing
none, a motion was made.
Motion was made by Mr. Truxton and seconded by Mr. Adams to approve
Resolution 2017-10 as described above, and with all in favor, the motion was
approved.
4. Consideration of Amendment to Agreement Regarding the Acquisition of
Certain Work Product Infrastructure and Real Property Related to the Series 2016
Phase 5 Bond Issue
Mr. Ward introduced this item and stated that there were a number of
agreements that had been entered into with the developer that provided for the
acquisition and completion of certain facilities. He said the purpose of Agenda Items 4,
5, 6, and 7 were to amend all of those agreements to include the Dilillo annexation
piece, which would provide in essence for the acquisition of the work product. It would
amend the collateral assignment and assumption of development and contract rights
relative to that phase of construction and amend the agreement with Taylor-Morrison
regarding the completion of the infrastructure for the 2016 Phase 5 Bonds to include the
Dilillo annexation. He said it also amended the True-Up agreement in the event that
there were changes to the land use plan. He explained the agreements were exactly
the same as what the Board had seen before, and they only added the Dilillo
annexation land.
Mr. Ward said they would handle the items with separate motions. First, there
was a motion to amend the agreement regarding the acquisition of certain work product
infrastructure and real property related to the Series 16 — Phase 5 Bonds.
Motion was made by Mr. Truxton and seconded by Mr. Adams to amend the
agreement regarding the acquisition of certain work product infrastructure and
real property related to the Series 16 — Phase 5 Bonds, and with all in favor, the
motion was approved.
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Flow Way Community Development District April 25,2017
5. Consideration of Collateral Assignment and Assumption of Development
and Contract Rights Relating to the Phase 5 Project
Motion was made by Mr. Truxton and seconded by Mr. Adams to amend the
agreement regarding the Collateral Assignment and Assumption of development
and Contract Rights relating to the Series 16 — Phase 5 Bonds, and with all in
favor, the motion was approved.
6. Consideration of Amendment to Agreement with Taylor-Morrison
Esplanade Regarding the Completion of Certain Improvement Related to the
Series 2016— Phase 5 Bond Issue
Motion was made by Mr. Truxton and seconded by Mr. Adams to amend t
;agreement regarding the completion of certain improvement related to the Series
16 —Phase 5 Bonds, and with all in favor, the motion was approved.
7. Consideration of Amendment to True-Up Agreement with Taylor Morrison
Esplanade Related to the Series 2016 - Phase 5 Bond Issue
Motion was made by Mr. Truxton and seconded by Mr. Adams to amend the
agreement regarding the True-Up agreement with Taylor Morrison Esplanade
related to the Series 16 — Phase 5 Bonds, and with all in favor, the motion was
approved.
8. Consideration of Certificated Related to the Series 2016 — Phase 5
Retainage Subaccount
Mr. Ward explained that the final document was a certificate. He said it was a
requirement of the 2016 Phase 5 closing that they created a subaccount. He said the
subaccount held the funds that were contemplated to be utilized for the acquisition of
the infrastructure for the Dilillo annexation piece. This certificate authorized the Trustee
to move the monies out of the Retainage subaccount and into the District's main 2016
Acquisition and Construction account, and from that account funds could be
requisitioned in the amount of $983,247.05 to pay for the infrastructure related to the
Dilillo annexation or any facilities related to the 2016 Phase 5 Bonds.
Motion was made by Mr. Truxton and seconded by Mr. Adams to approve the
Certificate of the Retainage Account as dictated by the District Manager, and with
all in favor, the motion was approved.
Mr. Ward added that at previous meetings the Board had approved three or four
separate acquisitions and issued notes to Taylor Morrison related to primarily the Dilillo
annexation lands. He said now that they had finished the process, they would submit
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Flow Way Community Development District April 25,2017
the requisitions to the Trustees for payment to Taylor Morrison, and the promissory
notes would be disposed from the District books and records.
9. Staff Reports
a) District Attorney— Mr. Urbancic noted that there would be an amended
restated record, which was an administrative function, so that anybody buying
would be aware of these bonds and assessments.
b) District Engineer— No report
d) District Manager- No report
10. Supervisor's Requests and Audience Comments
There was no discussion from the Board and no audience members present.
11. Adjournment
Motion was made by Mr. Truxton and seconded by Mr. Adams to adjourn the
meeting, and with all in favor, was approved.
The meeting was adjourned at 3:35 p.m.
Flow Way Community Development District
"lel.4/ 2/
James/P. Ward, Secretary avid Truxton, Chairman
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