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06/06/2024 AgendaDistrict Office: Meeting Location: Inframark, Community Management Services Heritage Bay Clubhouse 210 North University Drive, Suite 702 10154 Heritage Bay Boulevard Coral Springs, Florida 33071 Naples, Florida 34120 (954) 603-0033 (239) 353-7056 www.heritagebaycdd.com Heritage Bay Community Development District Board of Supervisors District Staff 󠆶 Edwin Hubbard, Chairperson □Justin Faircloth, District Manager 󠆶 F. Jack Arcurie, Vice Chairperson □ Gregory Urbancic, District Counsel 󠆶 Vacant, Assistant Secretary □ Jeffrey Satfield, District Engineer 󠆶 Steven Bachenberg, Assistant Secretary 󠆶 Allen Soucie, Assistant Secretary Revised Regular Meeting Agenda Thursday, June 6, 2024 – 9:00 a.m. Call-in Number: 1-646-838-1601 Meeting ID: 951092195# 1. Call to Order/Roll Call 2. Approval of Agenda 3. Public Comments on Agenda Items 4. Engineer’s Report A. SFWMD Permit Status Review Update B. CPH Investigation and Recommendation of Optimal PH Levels C. Discussion of Addendum to Agreement with CPH Consulting 5. SOLitude Lake Management A. Monthly Inspections and Service Reports 6. Legal Update A. Required Ethics Training and Updates from Supervisors 7. Old Business A. Project Planning 2024 i. Joint CDD and Club Projects for Summer 2024 a. Lake 1 – North Lake Bank b. Lake 21/Oak 22 Tee Timing of Lake Bank Sodding ii. Update on 2024 CDD Projects a. CDD Planned Drainage Installations Update b. Status of Planned CDD Lake Bank Rebuilds iii. Club Upgrade and Drainage Project – Cart Path and Adjacent Lake Bank B. Status of Memorandum – Lake 19 Cart Path 8. New Business A. Mobilization of Supervisors Lakes Review in Event of Major Storm B. Lake 15 Homeowner Issue Heritage Bay CDD June 6, 2024 Revised Agenda Page 2 District Office: Meeting Location: Inframark, Community Management Services Heritage Bay Clubhouse 210 North University Drive, Suite 702 10154 Heritage Bay Boulevard Coral Springs, Florida 33071 Naples, Florida 34120 (954) 603-0033 (239) 353-7056 www.heritagebaycdd.com 9. Manager’s Report A. Approval of the Minutes of the May 2, 2024 Meeting B. Acceptance of Financial Reports as of April 30, 2024 C. Field Manager and Supervisors’ Quarterly – Next Review July 12, 2024 D. Lake Management Assessment – Potential Projects Tracking Sheet E. Review and Discussion of Action Items on District Manager’s May 2, 2024 “Open Items” Report F. Presentation of Finalized Fiscal Year 2025 Proposed Budget i. Consideration of Resolution 2024-03, Approving Budget & Setting Public Hearing 10. Supervisor Comments 11. Chairperson Comments 12. Adjournment The next CDD Meeting is scheduled to be held Thursday, July 11, 2024 at 9:00 a.m. Heritage Bay Water Quality Sampling – Sept. 2024 & March 2025 May 20, 2024 1 ADDENDUM TO AGREEMENT HERITAGE BAY CDD WATER QUALITY MONITORING EVENTS - SEPTEMBER 2024 & MARCH 2025 COLLIER COUNTY, FLORIDA MAY 20, 2024 CPH, LLC, Environmental Services (CPH) has prepared a proposal of services and fees to provide certain environmental consultant services for the above referenced project as an addendum to the Agreement between Heritage Bay Community Development District (“DISTRICT or CDD”) and CPH Consulting, LLC (“CONTRACTOR”). PROJECT DESCRIPTION CPH has been requested to perform two (2) monitoring events to collect water quality data within lakes/stormwater management ponds with the community development district boundary. The two monitoring events shall occur in September 2024 and March 2025. Lakes 5, 6, 10, 15, 19, 25 and 27 are proposed for monitoring pursuant to the CDD’s request to reduce field monitoring. CPH has based this proposal on the interconnection of lakes, their flow, control structure location and by examining the water quality data from 2018 through 2025 to get a representation of the CDDs water quality condition of the overall lake system. Graphics are attached depicting the interconnection of lakes and an aerial photograph of the lake numbering for reference (EXHIBIT 1). An annual report of results shall be prepared summarizing the two monitoring events. An interim email report will be provided after the lab results are received from the September 2024 monitoring event. CPH will record temperature, specific conductivity, salinity, pH and dissolved oxygen for all lakes (1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, and 29). As directed by the Client the lake monitoring shall include grab samples for Total Nitrogen, Total Phosphorus and Chlorophyll a for Lakes 5, 6, 10, 15, 19, 25 and 27. CPH shall coordinate with the CDD at least two weeks prior to the field work to notify the CDD of the fieldwork. CPH shall coordinate with the CDD and Inframark. CPH will share the water quality monitoring data and contact information with Golf Club, District Manager and Solitude representatives to coordinate any on-site irregularities observed at any given time. 1.0 SCOPE OF SERVICES 1.1 Basic Services CPH shall provide, or obtain from others, all labor, material and equipment to perform the following services: ENV-1 September 2024 Water Quality Sampling Event & Interim Report ➢ CPH shall notify the CCD at least two (2) weeks prior the scheduled water quality sampling event. ➢ CPH shall sample salinity, conductivity, temperature, dissolved oxygen, pH for one (1) event within 29 lakes within the development boundaries. ➢ CPH shall collect one (1) sample for each parameter to include Chlorophyll a, Total Nitrogen, pH and Total Phosphorus within Lakes 5, 6, 10, 15, 19, 25 and 27. ➢ CPH shall coordinate with the analytical laboratory to obtain sampling materials for collection of chlorophyll a, TN, pH and TP as needed. Once samples are collected, CPH shall deliver samples to the lab oratory for Heritage Bay Water Quality Sampling – Sept. 2024 & March 2025 May 20, 2024 2 analysis. ➢ Water Quality sampling shall be located within the deep part of the lake within the photic zone. The sample depth and time will be recorded and identified within the report. CPH anticipates one to one and half days to sample lakes. ➢ During water quality sampling, CPH scientists shall photograph all lakes, document the aquatic vegetation observed and additional observations that may affect water quality. These observations shall also be recorded and photographed. ➢ CPH shall prepare an interim email report to the CDD and Inframark and share data with others as requested by the CDD. ➢ FDEP Standard Operating Procedures (SOP) shall be followed with sample collection, handling and laboratory analysis. ➢ Deliverables: CPH shall report the monitoring event results to the Client within two (2) weeks of receipt of the laboratory sampling results. A location map of the sampling areas, summary of monitoring results and discussion of any issues observed during the event and after examination of the laboratory analysis. ➢ Report Revision: CPH shall address comments or issues brought forth by the CDD regarding the email report. ➢ Meeting: CPH shall attend one (1) electronic meeting with the CDD, Inframark or others designated by the CDD after the interim report is sent out to discuss results. ENV-2 March 2025 Water Sampling Event & Annual Report ➢ CPH shall notify the CCD at least two (2) weeks prior the scheduled water quality sampling event. ➢ CPH shall sample salinity, conductivity, temperature, dissolved oxygen, pH for one (1) event within 29 lakes within the development boundaries. ➢ CPH shall collect one (1) sample for each parameter to include Chlorophyll a, Total Nitrogen, pH and Total Phosphorus within Lakes 5, 6, 10, 15, 19, 25 and 27. ➢ CPH shall coordinate with the analytical laboratory to obtain sampling materials for collection of chlorophyll a, TN, pH and TP as needed. Once samples are collected, CPH shall deliver samples to the laboratory for analysis. ➢ Water Quality sampling shall be located within the deep part of the lake within the photic zone. The sampling event shall occur in March 2025. Monitoring is subject to change based on weather and internal scheduling. The sample depth and time will be recorded and identified within the report. CPH anticipates one to one and half days to sample lakes. ➢ During water quality sampling, CPH scientists shall photograph lakes, document the aquatic vegetation observed and additional observations that may affect water quality. These observations shall also be recorded and photographed. ➢ CPH shall report any issues observed during the sampling events to the Client via email as warranted. ➢ FDEP Standard Operating Procedures (SOP) shall be followed with sample collection, handling and laboratory analysis. ➢ Deliverables: CPH shall provide an Annual Report discussing the Sept. 2024 and March 2025 monitoring event results to the Client within two (2) weeks of receipt of the laboratory sampling results. A location map of the sampling areas shall also be provided in the report. ➢ Report Revision: CPH shall address comments or issues brought forth by the CDD regarding the report. CPH shall provide one revision to the report within a week of receiving the comment(s) or their Heritage Bay Water Quality Sampling – Sept. 2024 & March 2025 May 20, 2024 3 representative. ➢ Meeting: CPH shall attend one (1) electronic meeting with the CDD, Inframark or others designated by the CDD after the interim report is sent out to discuss results. 1.2 Additional Services Provide other professional and technical services not specifically identified in Sections ENV-1 through ENV- 2 above. 2.0 COST AND COMPENSATION 2.1 Basic Services Services under Basic Services, Task ENV-1 above shall be provided as a Fixed Fee of $9,400.00 for the September 2024 monitoring event and interim report. Services under Basic Services, Task ENV-2 above shall be provided as a Fixed Fee of $10,550.00 for the March 2025 monitoring event and annual report. This cost shall not be exceeded without Client authorization. Invoices for Basic Services will be submitted monthly based on percent complete. 2.2 Additional Services Invoices for Additional Services will be provided on an hourly plus expense reimbursement basis. Invoices for Additional Services will be submitted monthly. 3.0 AUTHORIZATION The above fees, terms, conditions and specifications are subject to the terms and agreements made within the master agreement between the DISTRICT and CONTRACTOR. It is understood that you may terminate this contract with written notice to CPH and CPH will only bill for services rendered up to the date when written termination of the contract is received by CPH, in conformation with the general information. CPH is authorized to do the work as specified and payment will be made as outlined above. By signing this agreement, both parties acknowledge that they have the legal authority to enter into this agreement and agree to be bound by the terms contained therein and in the master agreement. Should the agreement be acceptable, please sign, retain a copy for your records, and return a copy to CPH as our notice to proceed. We look forward to working with you on this endeavor. Should you have any questions, please call me at (407) 399-0840. CDD STORM WATER LAKE SYST EM MAPScale: NA Project No. H13603Photo Date: NA Biologist: AED GIS: RCO Path: P:\H\H13605\stormwater A.mxdFIGURE1A Date: 5/25/2017 SECTI ONS 13 & 24, TOWNSHIP 48 SO UTH, RANGE 26 EASTSECTIONS 18 & 19, TOWNSHIP 48 SO UTH, RANGE 27 EAST COLLIER COUNTY, FLORIDA HERITAGE BAY CDD CDD STORM WATER LAKE SYST EM MAPScale: NA Project No. H13603Photo Date: NA Biologist: AED GIS: RCO Path: P:\H\H13605\stormwater B.mxdFIGURE1B Date: 5/25/2017 SECTI ONS 13 & 24, TOWNSHIP 48 SO UTH, RANGE 26 EASTSECTIONS 18 & 19, TOWNSHIP 48 SO UTH, RANGE 27 EAST COLLIER COUNTY, FLORIDA HERITAGE BAY CDD !( !(!( !(!(!(!(!( !( !( !( !( !( !( !( !( !( !( !( !( !( !( !(!( !( !( !( !( !( !( !(!( !( !( !( !(!( !( !(!( !( !( !( !( !( !( !( !( !( !( !( !( !( !( !( !( !( !( !(APPROXIMATEPROPERTY BOUNDARY Flint C t Coa s tli n e Ct KayakDr LimestoneLnGa t or Ba y Ct Richards StWoodcrest DrRidgeRdKrape RdLionsBayCtRivers RdQuartz Ln Weathered StoneDr Linestone Trl Sie s ta Ba y Dr WildwoodBlvdSmokehouse Bay DrImmokalee RdQuarry DrHeritageBayBlvdW ild w oo d B lvd30 28 29 22 23 272625 24 19 18 21 17 15 13 16 14 20 12 11 9 7 6 8 5 4 10 3 2 1 LAKE SAMPLING LOCATIONS M APScale: Project No. 13610.2Photo Date: 2018 Biologist: AED GIS: MGO Path: P:\H\H13610.2\Fig2_SamplingLocationMap_H13610.2.mxdFIGURE2 1 " = 1,500 ' N Date: 10/13/2020 SECTIONS 13 & 24, TOWNSHIP 48 SOUTH, RANGE 26 EASTSECTIONS 18 & 19, TOWNSHIP 48 SOUTH, RANGE 27 EASTCOLLIER COUNTY, FLORIDA HERITAGE BAY CDD !(SAMPLING LOCATION !(LAKE ID 4/30/2024Created Date 10154 Heritage Bay Blvd. Naples, FL 34120 Address00553701Work Order Number Justin FairclothContact00553701Work Order Heritage Bay CDDAccount Service Report HUGO PAIZPrepared ByTreatedSpecialist Comments to Customer Work Details Work Order Assets Asset Status Product Work Type Heritage Bay CDD-Wetland-All Treated Service Parameters Asset Product Work Type Specialist Comments to Customer Heritage Bay CDD-Wetland-All INVASIVES CONTROL Heritage Bay CDD-Wetland-All TRASH / DEBRIS COLLECTION (IN HOUSE) Heritage Bay CDD-Wetland-All SHORELINE WEED CONTROL Heritage Bay CDD-Wetland-All Treated all littorals for torpedograss and vine. 4/1/2024Created Date 10154 Heritage Bay Blvd. Naples, FL 34120 Address00563649Work Order Number Justin FairclothContact00563649Work Order Heritage Bay CDDAccount Service Report ALAN MEADOWSPrepared ByUsed truxor for cutting lake pond weedSpecialist Comments to Customer Work Details Work Order Assets Asset Status Product Work Type Heritage Bay CDD-Lake-All Inspected Service Parameters Asset Product Work Type Specialist Comments to Customer Heritage Bay CDD-Lake-All TRASH / DEBRIS COLLECTION (IN HOUSE) Heritage Bay CDD-Lake-All SHORELINE WEED CONTROL Heritage Bay CDD-Lake-All LAKE WEED CONTROL Heritage Bay CDD-Lake-All ALGAE CONTROL Heritage Bay CDD-Lake-All 4/18/2024Created Date 10154 Heritage Bay Blvd. Naples, FL 34120 Address00565891Work Order Number Justin FairclothContact00565891Work Order Heritage Bay CDDAccount Service Report ERIK MARTINEZPrepared ByTreated for shoreline grasses and brush on lakes 2, 3 and 7-11. Submerged vegetation observed 7-9. Wildlife observations were alligators, bass, ibis, turtles and ducks. Water levels low. Will monitor and treat accordingly. Specialist Comments to Customer Work Details Work Order Assets Asset Status Product Work Type Heritage Bay CDD-Lake-All Treated Service Parameters Asset Product Work Type Specialist Comments to Customer Heritage Bay CDD-Lake-All TRASH / DEBRIS COLLECTION (IN HOUSE) Heritage Bay CDD-Lake-All SHORELINE WEED CONTROL Heritage Bay CDD-Lake-All LAKE WEED CONTROL Heritage Bay CDD-Lake-All ALGAE CONTROL Heritage Bay CDD-Lake-All 4/30/2024Created Date 10154 Heritage Bay Blvd. Naples, FL 34120 Address00566831Work Order Number Justin FairclothContact00566831Work Order Heritage Bay CDDAccount Service Report HUGO PAIZPrepared ByTteatedSpecialist Comments to Customer Work Details Work Order Assets Asset Status Product Work Type Heritage Bay CDD-Wetland-All Treated Service Parameters Asset Product Work Type Specialist Comments to Customer Heritage Bay CDD-Wetland-All INVASIVES CONTROL Heritage Bay CDD-Wetland-All TRASH / DEBRIS COLLECTION (IN HOUSE) Heritage Bay CDD-Wetland-All SHORELINE WEED CONTROL Heritage Bay CDD-Wetland-All Treated littorals 5,6,7,8,9,10,11 and 12 for torpedograss. 4/24/2024Created Date 10154 Heritage Bay Blvd. Naples, FL 34120 Address00569756Work Order Number Justin FairclothContact00569756Work Order Heritage Bay CDDAccount Service Report ERIK MARTINEZPrepared ByTreated for shoreline grasses and brush on lakes 6-9. Treated for floating vegetation on lakes 3 and 4. Water levels are low. Wildlife observations were alligators, bass, ibis, ducks, herons and turtles. Will monitor and treat accordingly. Specialist Comments to Customer Work Details Work Order Assets Asset Status Product Work Type Heritage Bay CDD-Lake-All Treated Service Parameters Asset Product Work Type Specialist Comments to Customer Heritage Bay CDD-Lake-All TRASH / DEBRIS COLLECTION (IN HOUSE) Heritage Bay CDD-Lake-All SHORELINE WEED CONTROL Heritage Bay CDD-Lake-All LAKE WEED CONTROL Heritage Bay CDD-Lake-All ALGAE CONTROL Heritage Bay CDD-Lake-All 4/29/2024Created Date 10154 Heritage Bay Blvd. Naples, FL 34120 Address00572865Work Order Number Justin FairclothContact00572865Work Order Heritage Bay CDDAccount Service Report ERIK MARTINEZPrepared ByLake inspections on lakes 1-10. Water levels are low. Submerged vegetation in littorals observed on lake 8 and 9. Wildlife observations were alligators, bass, ibis, ducks, herons and turtles. Will monitor and treat accordingly. Specialist Comments to Customer Work Details Work Order Assets Asset Status Product Work Type Heritage Bay CDD-Lake-All Inspected Service Parameters Asset Product Work Type Specialist Comments to Customer Heritage Bay CDD-Lake-All TRASH / DEBRIS COLLECTION (IN HOUSE) Heritage Bay CDD-Lake-All SHORELINE WEED CONTROL Heritage Bay CDD-Lake-All LAKE WEED CONTROL Heritage Bay CDD-Lake-All ALGAE CONTROL Heritage Bay CDD-Lake-All 4/29/2024Created Date 10154 Heritage Bay Blvd. Naples, FL 34120 Address00575317Work Order Number Justin FairclothContact00575317Work Order Heritage Bay CDDAccount Service Report HUGO PAIZPrepared ByTreatedSpecialist Comments to Customer Work Details Work Order Assets Asset Status Product Work Type Heritage Bay CDD-Wetland-All Treated Service Parameters Asset Product Work Type Specialist Comments to Customer Heritage Bay CDD-Wetland-All INVASIVES CONTROL Heritage Bay CDD-Wetland-All TRASH / DEBRIS COLLECTION (IN HOUSE) Heritage Bay CDD-Wetland-All SHORELINE WEED CONTROL Heritage Bay CDD-Wetland-All Treated all littorals for torpedograss, vines, cattails and sedge. 5/24/2024Created Date 10154 Heritage Bay Blvd. Naples, FL 34120 Address00586278Work Order Number Justin FairclothContact00586278Work Order Heritage Bay CDDAccount Service Report Specialist State License Number MASON MAHERPrepared ByTreated lakes 28, 29, 20A and 20 foe grasses and brushes on the ripraps. Water level low. Fish and birds observed. Thank you for your business. Specialist Comments to Customer Work Details Work Order Assets Asset Status Product Work Type Heritage Bay CDD-Lake-All Treated Service Parameters Asset Product Work Type Specialist Comments to Customer Heritage Bay CDD-Lake-All TRASH / DEBRIS COLLECTION (IN HOUSE) Heritage Bay CDD-Lake-All SHORELINE WEED CONTROL Heritage Bay CDD-Lake-All LAKE WEED CONTROL Heritage Bay CDD-Lake-All ALGAE CONTROL Heritage Bay CDD-Lake-All 5/24/2024Created Date 10154 Heritage Bay Blvd. Naples, FL 34120 Address00588844Work Order Number Justin FairclothContact00588844Work Order Heritage Bay CDDAccount Service Report Specialist State License Number MASON MAHERPrepared ByTreated lakes 29, 30A, 30B, 23 and 12 for grasses and brushes on the Rip raps, shorelines and littorals. Water level low. Fish, birds and alligators observed. Thank you for your business. Specialist Comments to Customer Work Details Work Order Assets Asset Status Product Work Type Heritage Bay CDD-Lake-All Treated Service Parameters Asset Product Work Type Specialist Comments to Customer Heritage Bay CDD-Lake-All TRASH / DEBRIS COLLECTION (IN HOUSE) Heritage Bay CDD-Lake-All SHORELINE WEED CONTROL Heritage Bay CDD-Lake-All LAKE WEED CONTROL Heritage Bay CDD-Lake-All ALGAE CONTROL Heritage Bay CDD-Lake-All 5/29/2024Created Date 10154 Heritage Bay Blvd. Naples, FL 34120 Address00594254Work Order Number Justin FairclothContact00594254Work Order Heritage Bay CDDAccount Service Report ALAN MEADOWSPrepared ByCut pond weed with truxor between boat dock and bridge still a lot left Specialist Comments to Customer Work Details Work Order Assets Asset Status Product Work Type Heritage Bay CDD-Lake-All Inspected Service Parameters Asset Product Work Type Specialist Comments to Customer Heritage Bay CDD-Lake-All TRASH / DEBRIS COLLECTION (IN HOUSE) Heritage Bay CDD-Lake-All SHORELINE WEED CONTROL Heritage Bay CDD-Lake-All LAKE WEED CONTROL Heritage Bay CDD-Lake-All ALGAE CONTROL Heritage Bay CDD-Lake-All 5/24/2024Created Date 10154 Heritage Bay Blvd. Naples, FL 34120 Address00597614Work Order Number Justin FairclothContact00597614Work Order Heritage Bay CDDAccount Service Report HUGO PAIZPrepared ByTreatedSpecialist Comments to Customer Work Details Work Order Assets Asset Status Product Work Type Heritage Bay CDD-Wetland-All Treated Service Parameters Asset Product Work Type Specialist Comments to Customer Heritage Bay CDD-Wetland-All INVASIVES CONTROL Heritage Bay CDD-Wetland-All TRASH / DEBRIS COLLECTION (IN HOUSE) Heritage Bay CDD-Wetland-All SHORELINE WEED CONTROL Heritage Bay CDD-Wetland-All Treated wetland 30b for vines, torpedograss. PROJECT DATE APPROVED AMOUNT APPROVED ACTUAL COST UNDER / OVER BUDGET STATUS CPH Water Quality Testing FY2022 9/2/2021 28,150.00 28,150.00 - Completed CSEI Lake 19 Phase 3 Drainage & Rip Rap 9/2/2021 38,175.00 38,175.00 - Completed CSEI Lake 5 Catch Basin Repair 11/4/2021 95.00 95.00 - Completed CSEI Lake 4, 6, 20 Spot repairs 11/4/2021 5,875.00 4,775.00 (1,100.00) Completed CSEI Lakes 4,10, & 20 - 2022 11/4/2021 102,750.00 102,750.00 - Completed HBGCC Lake Bank Restoration FY2022 11/4/2022 63,898.00 57,180.00 (6,718.00) Completed CPH Stormwater Needs Anaylsis Report 12/2/2021 9,500.00 9,500.00 - Completed SOLitude Lake 5 Bridge Littoral Planting 12/2/2021 950.00 950.00 - Completed CSEI Lake 10/20 3/3/2022 68,325.00 68,325.00 - Completed SOLitude Lake 14 West Bank Littoral Planting 5/5/2022 1,520.00 1,520.00 - Completed CSEI Lake 30B SE Corner Rip Rap 5/29/2022 69,475.00 65,575.00 (3,900.00) Completed CPH Water Qaulity Monitoring FY2023 7/14/2022 20,905.00 20,905.00 - Completed CSEI Lake 5, 7, & 15 9/1/2022 67,725.00 67,725.00 - Completed HBGCC Lake Bank Restoration FY2023 9/1/2022 15,000.00 15,000.00 - Completed HBGCC Lake 22 SW Corner Restoration 11/3/2022 7,000.00 6,558.00 (442.00) Completed SOLitude Lake 20 West Bank Planting 5/4/2023 2,716.00 2,716.00 - Completed CPH FY2024 WQ Testing 8/17/2023 19,950.00 19,950.00 - Completed CSEI FY2024 Lake Restoration Lakes 4, 6, 15, 20, 2, & 19 8/17/2023 158,350.00 84,600.00 (73,750.00) In Progress CSEI lake 4 Options 1 & 2 12/7/2023 6,650.00 - (6,650.00) In Progress Total for all Projects 5,673,006.45 5,030,392.43 (642,614.02) Totals for Projects Shown 687,009.00 594,449.00 (92,560.00) From: Edwin Hubbard <ehubbard@heritagebaycdd.com> Sent: Friday, May 17, 2024 5:08 PM To: Scott Copeland <copelandsei@aol.com>; Faircloth, Justin <justin.faircloth@inframark.com> Subject: LAKE 19 Cart Path Repair-SW corner-Re: HBCDD-Amendment to Agreement Justin Please include this email and Scott’s revised proposal in the June agenda packet so we can discuss as a board. Scott, thanks for your comments and input. Ed Get Outlook for iOS From: Scott Copeland <copelandsei@ aol. com> Sent: Thursday, ZjQcmQRYFpfptBannerStart This Message Is From an External Sender This message came from outside your organization. Please use caution when clicking links. Report Suspicious ZjQcmQRYFpfptBannerEnd Justin Please include this email and Scott’s revised proposal in the June agenda packet so we can discuss as a board. Scott, thanks for your comments and input. Ed Get Outlook for iOS From: Scott Copeland <copelandsei@aol.com> Sent: Thursday, May 16, 2024 8:43 PM To: Faircloth, Justin <justin.faircloth@inframark.com> Cc: Edwin Hubbard <ehubbard@heritagebaycdd.com> Subject: Re: HBCDD-Amendment to Agreement Justin, Please see the attached revised amendment. I stated that we should just replace the ground sidewalk area now instead of waiting for it fail one day in the future. But there will need a catch basin installed in the walk or re-design the sidewalk lay out with grade to allow the water to enter the flume area. I will work with everyone to get this resolved once and for all. Thanks Scott Copeland Southern Enterprises Inc. 1668 Many Road, N. Fort Myers, Fl. 33903 Email : copelandsei@aol.com or gmail.com Work : 239-995-3684 Fax : 239-995-0058 Cell : 239-707-6806 On Thursday, May 16, 2024 at 11:53:38 AM EDT, Faircloth, Justin <justin.faircloth@inframark.com> wrote: Scott, As previously discussed with myself and the Chairman, please see the attached amendment to the contract regarding the cart path on the southwest corner of lake 19. Would you please review, sign, and return to me if you are in agreement with the terms? Thank you. Sincerely, Justin Justin Faircloth | CAM, CDM | District Manager 239.785.0675 | www.inframarkims.com SUPERVISORS, PLEASE DO NOT REPLY TO ALL AS THIS COULD BE A VIOLATION OF THE FLORIDA SUNSHINE PROVISIONS. CONFIDENTIALITY NOTICE: The information in this email is intended for the sole use of the recipient(s) and may be confidential and subject to protection under the law. If you are not the intended recipient, you are hereby notified that any distribution or copying of this email is strictly prohibited. If you have received this message in error, please contact the sender immediately and delete your copy from your computer. 1 AMENDMENT TO PROFESSIONAL SERVICES AGREEMENT THIS AMENDMENT TO PROFESSIONAL SERVICES AGREEMENT (this “Amendment”) is made and entered into as of this 2nd day of May, 2024 (the “Effective Date”), by and between HERITAGE BAY COMMUNITY DEVELOPMENT DISTRICT, a local unit of special purpose government established pursuant to Chapter 190, Florida Statutes (the “District”) and COPELAND SOUTHERN ENTERPRISES, INC., a Florida corporation (the “Contractor”), and joined by HERITAGE BAY GOLF & COUNTRY CLUB, INC., a Florida not-for-profit corporation (the “Club”). WITNESSETH: WHEREAS, the District and the Contractor entered into that certain Professional Services Agreement dated July 7, 2023, as affected by that certain Contract Change Order dated March 13, 2024 (collectively, the “Agreement”); and WHEREAS, pursuant to the Agreement, the Contractor undertook work to install curbing adjacent to the golf cart path in the area located in the southwest corner of lake 19 between the tee boxes for holes #24 and #27, as more particularly identified as the area within the red circle on map attached hereto as Exhibit “A” (the “Sidewalk”). The work was for the purpose of directing the flow of water to a previously installed flume so that said water would not flow over the lake bank but rather be diverted into the previously installed flume (the “Curbing Work”); and WHEREAS, the parties acknowledge that the Sidewalk is owned by the Club and the Club is joining in this Amendment as a result of said ownership; and WHEREAS, as a result of the Curbing Work, water began pooling on the Sidewalk and as initial remedial action for such condition, the Contractor attempted to grind down the Sidewalk to allow the water to drain into the previously installed flume (the “Remedial Action”); and WHEREAS, as result of the Curbing Work, the subsequent Remedial Action, and the post- construction warranty provided by the Contractor, the District and the Contractor desire to enter into this Agreement to memorialize their rights and obligations. NOW, THEREFORE, the parties agree as follows: 1. RECITALS. That the above recitals are true and correct and are incorporated herein. 2. DEFINITIONS. Unless otherwise specifically defined herein, capitalized terms shall have the meaning set forth in the Agreement. 3. SIDEWALK REPAIR AND SUBSEQUENT DRAINAGE INSTALLATION. In the event the Sidewalk should crack and be deemed unusable by the parties on or before the date that is five (5) years from the Effective Date, the parties agree as follows: a. The Contractor shall, at Contractor’s sole cost and expense, replace the Sidewalk (the “Sidewalk Replacement”). The Contractor shall be responsible for obtaining any required permits or approvals from the applicable governmental agencies to conduct the Sidewalk Replacement and the Sidewalk Replacement shall be conducted using high quality materials. 2 b. If the Contractor has to undertake the Sidewalk Replacement, then following the completion of the Sidewalk Replacement, the District shall have the obligation to install any additional drainage, in the District’s commercially reasonable discretion, to allow water to drain from the Sidewalk, as modified by the replacement conducted in Section 3(a), directly into lake 19 (the “Drainage Installation”). 4. APPROVAL FROM THE CLUB. To the extent any approvals are required from the Club to complete the Sidewalk Repairs or the Drainage Installation, the District and Contractor agree to work together to timely secure the required approvals and the Club agrees that its consent to such approvals shall not be unreasonably withheld. 5. SEVERABILITY. In the event any term or provision of this Amendment is determined by appropriate judicial authority to be illegal or otherwise invalid, such provision shall be given the nearest legal meaning or be construed as deleted as such authority determines, and the remainder of this Amendment and the Agreement shall be construed to be in full force and effect. 6. CONFLICTS. Except as modified hereby, the terms and conditions of the Agreement shall remain in full force and effect. To the extent of a conflict between this Amendment and the Agreement, this Amendment shall prevail. {Remainder of page intentionally left blank. Signatures appear on next page.} Exhibit A Exhibit "A" Heritage Bay Prepared by Community Development District Financial Report April 30, 2024 Page # FINANCIAL STATEMENTS Balance Sheet - All Funds …………………………………………………………………………1 Statement of Revenues, Expenditures and Changes in Fund Balance General Fund …………………………………………………………………………2 - 3 Debt Service Fund …………………………………………………………………………4 SUPPORTING SCHEDULES Trend Report …………………………………………………………………………5 - 6 Non-Ad Valorem Special Assessments ……………………………………………………………7 Cash and Investment Report …………………………………………………………………………8 Bank Reconciliation …………………………………………………………………………9 Check Register ………………………………………………………………………… 10 Invoice …………………………………………………………………………11 HERITAGE BAY Community Development District Table of Contents April 30, 2024 Heritage Bay Community Development District Financial Statements (Unaudited) HERITAGE BAY Community Development District Balance Sheet April 30, 2024 Governmental Funds ACCOUNT DESCRIPTION GENERAL FUND SERIES 2018 DEBT SERVICE FUND TOTAL ASSETS Cash - Checking Account 572,748$ -$ 572,748$ Due From Other Funds -37,944 37,944 Investments: Money Market Account 707,878 -707,878 Prepayment Account -11,437 11,437 Reserve Fund -387,249 387,249 Revenue Fund -1,951,087 1,951,087 TOTAL ASSETS 1,280,626$ 2,387,717$ 3,668,343$ LIABILITIES Accounts Payable 49,911$ -$ 49,911$ Accrued Expenses 11,473 -11,473 Due To Other Funds 37,944 -37,944 TOTAL LIABILITIES 99,328 -99,328 FUND BALANCES Restricted for: Debt Service -2,387,717 2,387,717 Assigned to: Operating Reserves 95,566 -95,566 Reserves - Erosion Control 14,687 -14,687 Reserves - Lakes 221,725 -221,725 Reserves - Stormwater System 77,130 -77,130 Unassigned:772,190 -772,190 TOTAL FUND BALANCES 1,181,298$ 2,387,717$ 3,569,015$ TOTAL LIABILITIES & FUND BALANCES 1,280,626$ 2,387,717$ 3,668,343$ 1 HERITAGE BAY Community Development District General Fund ANNUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE ($) ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) REVENUES Interest - Investments 51,001$ 29,751$ 49,072$ 19,321$ Interest - Tax Collector --2,317 2,317 Special Assmnts- Tax Collector 505,604 498,209 500,624 2,415 Special Assmnts- Reserves 31,250 31,250 30,942 (308) Special Assmnts- Discounts (21,474)(21,474)(19,729)1,745 TOTAL REVENUES 566,382 537,736 563,226 25,490 EXPENDITURES Administration P/R-Board of Supervisors 9,000 5,250 2,000 3,250 FICA Taxes 689 402 153 249 ProfServ-Arbitrage Rebate 600 600 -600 ProfServ-Dissemination Agent 1,500 250 250 - ProfServ-Engineering 12,000 7,000 1,698 5,302 ProfServ-Legal Services 11,500 6,708 1,285 5,423 ProfServ-Mgmt Consulting 52,078 30,379 30,379 - ProfServ-Property Appraiser 8,053 8,053 8,271 (218) ProfServ-Special Assessment 7,428 7,428 7,212 216 ProfServ-Trustee Fees 8,468 8,468 2,846 5,622 ProfServ-Web Site Maintenance 1,238 722 723 (1) Auditing Services 5,000 5,000 4,200 800 Website Compliance 1,553 906 776 130 Postage and Freight 1,000 583 1,830 (1,247) Insurance - General Liability 9,419 9,419 8,936 483 Printing and Binding 1,800 1,050 1,397 (347) Legal Advertising 2,000 1,167 498 669 Misc-Bank Charges 100 58 -58 Misc-Assessment Collection Cost 10,737 10,737 10,236 501 Misc-Web Hosting 1,500 875 -875 Office Supplies 100 58 -58 Annual District Filing Fee 175 175 175 - Total Administration 145,938 105,288 82,865 22,423 Field ProfServ-Field Management 14,440 8,423 3,610 4,813 R&M-Contingency 100 100 -100 Total Field 14,540 8,523 3,610 4,913 Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending April 30, 2024 2 HERITAGE BAY Community Development District General Fund ANNUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE ($) ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending April 30, 2024 Lakes and Ponds Contracts-Lake and Wetland 71,200 41,533 39,200 2,333 Contracts-Water Analysis 9,861 5,752 -5,752 Contracts-Water Quality 20,905 12,195 12,843 (648) Contracts-Lakes 30A & 30B 24,000 14,000 14,000 - Contract-Sediment Testing 5,483 3,198 -3,198 R&M-Aquascaping 4,175 2,435 -2,435 R&M-Stormwater System 4,000 2,333 -2,333 R&M-Lake Erosion 100,000 58,333 84,600 (26,267) R&M-Contingency 7,825 4,565 -4,565 Reserve - Lakes 140,000 140,000 -140,000 Reserve-Stormwater System 18,455 18,455 -18,455 Total Lakes and Ponds 405,904 302,799 150,643 152,156 TOTAL EXPENDITURES 566,382 416,610 237,118 179,492 Excess (deficiency) of revenues Over (under) expenditures -121,126 326,108 204,982 Net change in fund balance -$ 121,126$ 326,108$ 204,982$ FUND BALANCE, BEGINNING (OCT 1, 2023)855,190 855,190 855,190 FUND BALANCE, ENDING 855,190$ 976,316$ 1,181,298$ 3 HERITAGE BAY Community Development District Series 2018 Debt Service Fund ANNUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE ($) ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) REVENUES Interest - Investments 1,000$ 583$ 36,693$ 36,110$ Special Assmnts- Tax Collector 1,689,155 1,689,155 1,672,517 (16,638) Special Assmnts- Discounts (67,566)(67,566)(62,076)5,490 TOTAL REVENUES 1,622,589 1,622,172 1,647,134 24,962 EXPENDITURES Administration ProfServ-Property Appraiser 25,337 25,337 -25,337 Misc-Assessment Collection Cost 33,783 33,783 32,209 1,574 Total Administration 59,120 59,120 32,209 26,911 Debt Service Principal Debt Retirement 1,115,000 --- Principal Prepayments --10,000 (10,000) Interest Expense 456,150 228,075 227,934 141 Total Debt Service 1,571,150 228,075 237,934 (9,859) TOTAL EXPENDITURES 1,630,270 287,195 270,143 17,052 Excess (deficiency) of revenues Over (under) expenditures (7,681)1,334,977 1,376,991 42,014 OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance (7,681)--- TOTAL FINANCING SOURCES (USES)(7,681)--- Net change in fund balance (7,681)$ 1,334,977$ 1,376,991$ 42,014$ FUND BALANCE, BEGINNING (OCT 1, 2023)1,034,256 1,034,256 1,034,256 FUND BALANCE, ENDING 1,026,575$ 2,369,233$ 2,411,247$ Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending April 30, 2024 4 HERITAGE BAY Community Development District Trend Report - Generalfund Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Actual Thru Projected FY2024 Adopted % of Account Description Actual Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget 4/30/2024 Next 5 Mths Total Budget Budget Revenues Interest - Investments 3,932$ 5,120$ 10,915$ 11,447$ 5,771$ 6,250$ 5,638$ 4,250$ 4,250$ 4,250$ 4,250$ 4,250$ 49,072$ 21,251$ 70,323$ 51,001$ 138% Interest - Tax Collector ---1,814 --503 -----2,317 -2,317 -0% Special Assmnts- Tax Collector 3,263 185,672 249,801 19,413 23,627 7,259 11,589 2,385 5,010 ---500,624 4,980 505,604 505,604 100% Special Assmnts- Reserves 202 11,476 15,440 1,200 1,460 449 716 -----30,942 1 30,943 31,250 99% Special Assmnts- Discounts (176)(7,878)(10,453)(622)(523)(77)------(19,729)-(19,729)(21,474)92% Total Revenues 7,221 194,390 265,703 33,252 30,335 13,881 18,446 6,635 9,260 4,250 4,250 4,250 563,226 26,232 589,458 566,382 104% Expenditures Administrative P/R-Board of Supervisors -800 600 --600 -750 750 750 750 750 2,000 3,750 5,750 9,000 64% FICA Taxes -61 46 --46 -57 57 57 57 57 153 285 438 689 64% ProfServ-Arbitrage Rebate ---------600 ---600 600 600 100% ProfServ-Dissemination Agent -----125 125 --1,500 --250 1,500 1,750 1,500 117% ProfServ-Engineering -395 190 -528 -585 1,000 1,000 1,000 1,000 1,000 1,698 5,000 6,698 12,000 56% ProfServ-Legal Services -245 578 --270 193 958 958 958 958 958 1,285 4,791 6,076 11,500 53% ProfServ-Mgmt Consulting 4,340 4,340 4,340 4,340 4,340 -8,680 4,340 4,340 4,340 4,340 4,340 30,379 21,701 52,080 52,078 100% ProfServ-Property Appraiser 8,271 -----------8,271 -8,271 8,053 103% ProfServ-Special Assessment --7,212 ---------7,212 -7,212 7,428 97% ProfServ-Trustee Fees 2,846 -----------2,846 -2,846 8,468 34% ProfServ-Web Site Maintenance 103 103 103 103 103 1 206 103 103 103 103 103 723 514 1,237 1,238 100% Auditing Services ----2,500 1,000 700 -----4,200 -4,200 5,000 84% Website Compliance -388 --388 --129 129 129 129 129 776 645 1,421 1,553 92% Postage and Freight -11 41 170 2 2 1,604 83 83 83 83 83 1,913 332 2,245 1,000 224% Insurance - General Liability 8,936 -----------8,936 -8,936 9,419 95% Printing and Binding 90 355 419 -174 180 180 150 150 150 150 150 1,397 751 2,148 1,800 119% Legal Advertising -306 ---192 -167 167 167 167 167 498 835 1,333 2,000 67% Misc-Bank Charges 15 (15)-----8 8 8 8 8 -40 40 100 40% Misc-Assessment Collection Cost 66 5,375 3,506 400 491 153 246 -----10,237 0 10,237 10,737 95% Misc-Web Hosting -------125 125 125 125 125 -625 625 1,500 42% Office Supplies ---90 (90)--8 8 8 8 8 -40 40 100 40% Annual District Filing Fee 175 -----------175 -175 175 100% Total Administrative 24,842 12,364 17,035 5,103 8,436 2,569 12,519 7,878 7,878 9,978 7,878 7,878 82,949 41,409 124,358 145,938 85% Field ProfServ-Field Management 1,203 (1,203)3,610 (1,203)--1,203 1,203 1,203 1,203 1,203 1,203 3,610 6,015 9,625 14,440 67% R&M-Contingency ---------------100 0% Total Field 1,203 (1,203)3,610 (1,203)--1,203 1,203 1,203 1,203 1,203 1,203 3,610 6,015 9,625 14,540 66% TOTAL Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending April 30, 2024 5 HERITAGE BAY Community Development District Trend Report - Generalfund Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Actual Thru Projected FY2024 Adopted % of Account Description Actual Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget 4/30/2024 Next 5 Mths Total Budget Budget TOTAL Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending April 30, 2024 Lakes and Ponds Contracts-Lake and Wetland 5,600 5,600 5,600 5,600 5,600 5,600 5,600 5,933 5,933 5,933 5,933 5,933 39,200 29,665 68,865 71,200 97% Contracts-Water Analysis -------822 822 822 822 822 -4,110 4,110 9,861 42% Contracts-Water Quality -2,820 ----10,023 1,742 1,742 1,742 1,742 1,742 12,843 8,710 21,553 20,905 103% Contracts-Lakes 30A & 30B 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 14,000 10,000 24,000 24,000 100% Contract-Sediment Testing -------457 457 457 457 457 -2,285 2,285 5,483 42% R&M-Aquascaping -------348 348 348 348 348 -1,740 1,740 4,175 42% R&M-Stormwater System -------333 333 333 333 333 -1,665 1,665 4,000 42% R&M-Lake Erosion -75 ---40,750 43,775 8,333 8,333 8,333 8,333 8,333 84,600 41,665 126,265 100,000 126% R&M-Contingency -------652 652 652 652 652 -3,260 3,260 7,825 42% Reserve - Lakes ---------------140,000 0% Reserve-Stormwater System ---------------18,455 0% Total Lakes and Ponds 7,600 10,495 7,600 7,600 7,600 48,350 61,398 20,620 20,620 20,620 20,620 20,620 150,643 103,100 253,743 405,904 63% Total Expenditures 33,645 21,656 28,245 11,500 16,036 50,919 75,120 29,701 29,701 31,801 29,701 29,701 237,202 150,524 387,726 566,382 68% Excess (deficiency) of revenues Over (under) expenditures (26,424)$ 172,734$ 237,458$ 21,752$ 14,299$ (37,038)$ (56,674)$ (23,066)$ (20,441)$ (27,551)$ (25,451)$ (25,451)$ 326,024 (124,292)201,732 -0% Fund Balance, Beginning (Oct 1, 2023)855,190 -855,190 855,190 Fund Balance, Ending 1,181,214$ (124,292)$ 1,056,922$ 855,190$ 6 April 30, 2024 Heritage Bay Community Development District Supporting Schedules HERITAGE BAY Community Development District All Funds Discount /Gross Debt Date Net Amount (Penalties)Collection Amount General Reserve Service Received Received Amount Costs Received Fund Assmnts Fund Assessments Levied FY2024 2,226,009$ 505,604$ 31,250$ 1,689,155$ Allocation %100%23%1%76% 10/30/23 13,362$ 730$ 273$ 14,365$ 3,263$ 202$ 10,901$ 11/06/23 15,272 649 312 16,233 3,687 228 12,318 11/14/23 227,435 9,670 4,642 241,746 54,909 3,394 183,444 11/20/23 332,140 14,122 6,778 353,040 80,188 4,956 267,896 11/24/23 194,242 8,226 3,964 206,432 46,888 2,898 156,646 12/06/23 838,776 35,662 17,118 891,556 202,503 12,516 676,536 12/12/23 159,425 6,467 3,254 169,146 38,419 2,375 128,352 12/22/23 37,118 1,213 758 39,089 8,878 549 29,661 01/10/24 81,232 2,583 1,658 85,473 19,414 1,200 64,859 02/08/24 99,819 2,167 2,037 104,024 23,627 1,460 78,936 03/06/24 31,008 320 633 31,960 7,259 449 24,252 04/05/24 50,003 -1,020 51,024 11,589 716 38,718 TOTAL 2,079,832$ 81,809$ 42,446$ 2,204,086$ 500,624$ 30,942$ 1,672,517$ % COLLECTED 99%99%99%99% TOTAL OUTSTANDING 21,923$ 4,980$ 308$ 16,638$ Non-Ad Valorem Special Assessments - Collier County Tax Collector (Monthly Collection Distributions) For the Fiscal Year Ending September 30, 2024 ALLOCATION BY FUND 7 ACCOUNT NAME BANK NAME YIELD BALANCE OPERATING FUND Operating Checking Valley National Bank 5.38%$572,748 * Money Market Account BankUnited 5.25%707,878 Subtotal $1,280,626 DEBT SERVICE AND CAPITAL PROJECT FUNDS Series 2018 Prepayment Account Fund U.S. Bank 4.96%11,437 Series 2018 Reserve Fund U.S. Bank 4.96%387,249 Series 2018 Revenue Fund U.S. Bank 4.96%1,951,087 Subtotal 2,349,774 Total $3,630,400 * A transfer from GF to DS in the amount of $ 37,944.00 will be on May 23,2024. Community Development District HERITAGE BAY Cash & Investment Report April 30, 2024 8 Posting Date Document No. 04/23/2024 4256 04/24/2024 4257 04/26/2024 4258 04/26/2024 4259 Total Outstanding Checks -33,735.84 Payment Check for Vendor V00088 -10,022.50 Payment Check for Vendor V00022 -13.65 Payment Check for Vendor V00022 -170.06 Outstanding Checks Payment Payment of Invoice 002591 -23,529.63 Document Type Description Amount Cleared Amount Difference Ending Balance 572,747.96 Negative Adjustments 0.00 Ending G/L Balance 572,747.96 Positive Adjustments 0.00 Subtotal 606,483.80 Outstanding Checks -33,735.84 Subtotal 572,747.96 GL Balance (LCY)572,747.96 Statement Balance 606,483.80 Outstanding Deposits 0.00 GL Balance 572,747.96 Bank Account No.9050 Statement No.04-2024 Statement Date 04/30/2024 Bank Account Statement Heritage Bay CDD 9 Fund No.Date Payee Invoice No.Payment Description Invoice / GL Description G/L Account #Amount Paid GENERAL FUND - 001 CHECK # 4250 001 04/05/24 GRAU AND ASSOCIATES 25265 AUDIT FYE 9/30/2023 Auditing Services 532002-51301 $1,000.00 Check Total $1,000.00 CHECK # 4252 001 04/05/24 COPELAND SOUTHERN ENTERPRISES, INC 461 DRAINAGE SYSTEM INSTALLATION IN LAKE 15.R&M-Lake Erosion 546132-53917 $22,775.00 Check Total $22,775.00 CHECK # 4253 001 04/12/24 INFRAMARK, LLC 112949 3/2024 MANAGEMENT SERVICES ProfServ-Mgmt Consulting Serv 531027-51201 $4,339.83 001 04/12/24 INFRAMARK, LLC 112949 3/2024 MANAGEMENT SERVICES Misc-Contingency 549900-51301 $90.00 001 04/12/24 INFRAMARK, LLC 112949 3/2024 MANAGEMENT SERVICES ProfServ-Web Site Maintenance 531094-51301 $103.71 001 04/12/24 INFRAMARK, LLC 112949 3/2024 MANAGEMENT SERVICES ProfServ-Dissemination Agent 531012-51301 $125.00 Check Total $4,658.54 CHECK # 4254 001 04/12/24 COPELAND SOUTHERN ENTERPRISES, INC 463 LAKE 15 DRAINAGE R&M-Lake 546042-53917 $8,700.00 Check Total $8,700.00 CHECK # 4255 001 04/12/24 SOLITUDE LAKE MANAGEMENT LLC PSI060235 APR 2024 WETLAND ALL MAINT Contracts-Lakes 30A & 30B 534166-53917 $2,000.00 001 04/12/24 SOLITUDE LAKE MANAGEMENT LLC PSI060235 APR 2024 WETLAND ALL MAINT Contracts-Lake and Wetland 534021-53917 $5,600.00 Check Total $7,600.00 CHECK # 4257 001 04/24/24 COLLIER COUNTY TAX COLLECTOR GEBAY-121323 2023 TAX ROLL FIRST POSTAGE BILLING Postage and Freight 541006-51301 $170.06 Check Total $170.06 CHECK # 4258 001 04/26/24 COLLIER COUNTY TAX COLLECTOR 04022024 Tax Mailings- Postage Postage and Freight 541006-51301 $13.65 Check Total $13.65 CHECK # 4259 001 04/26/24 CPH, INC 157537 3/2024 POND MONITORING Contracts-Water Quality 534048-51501 $10,022.50 Check Total $10,022.50 Fund Total $54,939.75 SERIES 2018 DEBT SERVICE FUND - 203 CHECK # 4256 203 04/23/24 HERITAGE BAY C/O US BANK 04092024-7000-1 TRANF 2024 DS ASSESSMENTS Due from Other Funds 131000 $23,529.63 Check Total $23,529.63 Fund Total $23,529.63 Total Checks Paid $78,469.38 (Sorted by Check / ACH No.) Payment Register by Fund For the Period from 04/01/2024 to 04/30/2024 HERITAGE BAY COMMUNITY DEVELOPMENT DISTRICT 10 11 LAKE MANAGEMENT ASSESSMENT -POTENTIAL PROJECTS AND/OR ITEMS FOR QUARTERLY WATCH LIST- UPDATED: MAY 2, 2024 GREEN-NO ACTION REQUIRED YELLOW-ON WATCH LIST TO MONITOR URGENT DRAINAGE INSTALLATIONS GOAL: 100% of all homes and buildings bordering CDD lakes to have drainage installed per CDD guidelines ASSOCIATION #BUILDING NUMBERS NOTED ISSUES URGENCY WORK PLANNED REMEDIATION RATING COMPLETED (DATE) TERRACES TERRACE 3 10307 and 10313 Original drainage-pipes showing along bank YELLOW Assoc.notified that this may (lake 4) become an issue requiring action TERRACE 4 10317 CDD to repair geo-tubing area YELLOW PENDING Association has approved CSEI work (lake 4) Assoc. to pay portion of new drainage lines Apr-24 CSEI to perform work summer '24 '->CDD pays portion of drainage lines VERANDAS VERANDA 2 10250, 10260, 10270 Drainage installed by Clean Cutt and pipes YELLOW Monitor closely particularly during the dry (lake 6) AND 10280 are not reinforced double-walled . season when piping and banks visible Piping will likely deteriorae causing lake ->'Association mgmt. aware of this bank damage VERANDA 4 10300 and 10312 Gutters to be installed and association to YELLOW May-24 Planned work including gutter installation (lake 6) pay for new drainage lines. plannned for summer '24. CDD to re- CDD to pay for lake bank rehabilitation PENDING build lake bank behind 2 buildings -association to pay for drainage work CSEI to perform work summer '24 VERANDA 8 EAST BUILDING Association to installl gutter, two YELLOW SUMMER '25 (lake 23)#10074 downspouts and Copeland to tie into new drainage lines. CDD to rebuild east bank Cost sharing of new drain lines LAKE MANAGEMENT ASSESSMENT AND FOLLOW UP REPORT_EH_CDD DOCS LAKE MANAGEMENT ASSESSMENT -POTENTIAL PROJECTS AND/OR ITEMS FOR QUARTERLY WATCH LIST- SINGLE FAMILY LAKE 9 9 HOMES No drainage installed for all homes GREEN Continue to monitor status of lake bank 10388 to 10424 LAKE 10 21 HOMES No drainage installed for all homes YELLOW Continue to monitor status of lake bank 10451 to 10365 -vertical erosion and washouts noted LAKE 11 10 homes Drainage installed in 2012; single walled.GREEN Continue to monitor status of dranage 10460 to 10492 Rip rap installed along entire bank. and lake bank LAKE 13 3 homes 10066 to 10074 No drainage installed GREEN Continue to monitor status of dranage and lake bank LAKE 15 5 homes Install drainage lines for all homes GREEN Apr-24 Note: bank restored summer '23 10024 to 10044 LAKE 17 5 homes Some drain lines installed but dead-end YELLOW Continue to monitor status of dranage into catch basins above bank edge. and lake bank -Showing signs of vertical erosion. LAKE 20 11 homes Complete work in installing drain lines GREEN Apr-24 Note: west bank restored summer '23 on all homes bordering lake- also rebuild lake bank-SW corner by home 10338 LAKE 21 6 homes No drainage installed. Bank showing signs YELLOW Continue to monitor status of dranage of vertical erosion and washouts and lake bank LAKE MANAGEMENT ASSESSMENT AND FOLLOW UP REPORT_EH_CDD DOCS LAKE MANAGEMENT ASSESSMENT -POTENTIAL PROJECTS AND/OR ITEMS FOR QUARTERLY WATCH LIST- LANDSCAPING COMPANIES Monitor status of existing catch basins throughout the community to ensure being trimmmed of grass overgrowth WASHOUT ISSUES LAKE 4 SE corner of lake by Washout observed September '24 as water RED PENDING CSEI summer '24 remove stones, terrace 8 is moving around the existing rip rap build up level of area, add a 48" drain with drainage lines and plant sod LAKE 19 Entire cart path area Club to cap off most areas along path which RED IN PROCESS Club to contract with Creekbridge in behind clubhouse are allowing water flow washing out summer '24 lake bank and add proper drainage and rebuild up the lake bank SW concrete flume Bank around entire flume showing RED COMPLETE CSEI to install proper "A" curbing to significant washout channel the water into the flume Summer '24 LAKE 1 North end of lake 1 Entire length of cart path between pine YELLOW PENDING Club to utilize fill available from various 4 and 5 is showing signs of vertical projects, Creekbridge to establish new erosion 4:1 slope and bahia grass to be planted Summer 2024 LAKE 21 Entire east bank Joint projet with Club to remove existing YELLOW PENDING Summer 2024- grass plantings, bank to be re-established -CDD funds to be utilized and golf course grass to be planted CONTROL STRUCTURE MONITORING #VALUE!CS-102 Behind maint. facility Ensure Club is maintaining this area free of YELLOW PENDING CLUB TO UTILIZE CREEKBRIDGE AND excess debris and mowing the banks while RE-ESTABLISH THE BANKS WITH PROPER ensuring the control structure is not SLOPES. SUMMER 2024 covered. CLUB PUMPING ACTIVITIES FROM RECHARGE WELLS Lake 14: monitor use of sand bags when the club is pumping and ensure bags are removed during the rainy season. LAKE MANAGEMENT ASSESSMENT AND FOLLOW UP REPORT_EH_CDD DOCS LAKE MANAGEMENT ASSESSMENT -POTENTIAL PROJECTS AND/OR ITEMS FOR QUARTERLY WATCH LIST- OVERALL QUARTERLY INSPECTION GUIDELINES ➢ Assessment of all rip rap areas to ensure free of grasses and debris. ➢ Assessment of littorals and recommended additional plantings. ➢ Review of all 11 control structures and note any issues. ➢ Review of all lake interconnects and note any issues. ➢ Identification of any golf course or common ground assets causing damage to CDD infrastructure . ➢ Identification of potential joint projects to be undertaken by the Club management with potential CDD funding. ➢ Identification of storm drainage issues (parking lots and roads) during storm events. -Note: potential for Supervisors to observe during and immediately after rain events -To serve as a barometer as to how functioning and for the planning of future “Reserves-Stormwater System” expenditures ➢ Identification of any homeowner issues causing potential damage to CDD infrastructure. ➢ Identification of any invasive plants including specific location. ➢ Pictures only utilized, if necessary, to make a statement. QUARTERLY FIELD SERVICE OBSERVATIONS AND REQUIRED FOLLOWUP DATE NOTIFIED STATUS COMMENTS 4/13/2024 Monitor club drainage installation at cart path behind clubhouse Club In Process-expected completion 06/24 4/13/2024 Lake 17 brazilina pepper requires removal ?? 4/13/2024 Lake 6 broken irrigation head causing minor erosion-NE lake bank Club 5/6/24 OBSERVATION LAKE MANAGEMENT ASSESSMENT AND FOLLOW UP REPORT_EH_CDD DOCS HERITAGE BAY COMMUNITY DEVELOPMENT DISTRICT May 2, 2023 – CDD Meeting Board of Supervisors Edwin Hubbard, Chairman Justin Faircloth, District Manager F. Jack Arcurie, Vice Chairman Gregory L. Urbancic, District Counsel Steven Bachenberg, Assistant Secretary Albert Lopez, District Engineer Allen Soucie, Assistant Secretary Vacant, Assistant Secretary The next meeting is scheduled for Thursday, June 6, 2024 at 9:00 A.M. Deadline for agenda packet items is Friday 5/24/24 by Noon. Action Items 1. Assistant District Manager – Monitor lake 14 interconnects. 2. Assistant District Manager – Monitor lake 20 west bank mitigation area for littoral regrowth. 3. Assistant District Manager – Have CSEI complete the contract and FY2024 repairs to lakes 4, 6, 15, 19, & 20. 4. District Manager – Schedule the July quarterly review with Supervisor Hubbard & SOLitude. 5. Attorney/District Manager – Have changes to tri-party agreement made and present to CSEI and the Club for execution. 6. Engineer – Provide the Board with updated maps listing just the District instead of both the District and the Quarry CDD as presented at the March CDD meeting. 7. Engineer – Review information provided by Supervisor Soucie from SFWMD regarding water quality and comment. 8. Engineer – Develop proposal for FY2025 WQ work. 9. Engineer – Review the District’s permits and provide updates on future deadlines as required by SFWMD. 10. Finance – Increase the Administrative – P/R-Board of Supervisors line item by $181 to cover the ADP payroll cost increase for FY2025. 11. Finance – Add additional $25 to the O&M assessment place the additional $31,250 towards line item Lakes and Ponds – R&M-Lake Erosion in the FY2025 budget. 12. Finance – Confirm the previous FY2025 budget revision increasing assessments by 3% went to Lakes Reserves. 13. Payroll – Confirm all payroll documentation has been received for Supervisor Bachenberg. 14. Recording – Remove the tabs from future Supervisor agenda packets. 15. Recording – Make changes to the minutes as requested. 16. Recording – Make sure Supervisor Comments & Chairman’s Comments are on the agenda going forward. 17. Recording – Send out the Lake Management Assessment & Follow Up excel spreadsheet and the action items list every month to the Board even if the Board is not meeting or a field management report has not been completed. HERITAGE BAY Community Development District Annual Operating and Debt service Budget Fiscal Year 2025 Prepared by: Preliminary Budget HERITAGE BAY Community Development District Page # OPERATING BUDGET General Fund Summary of Revenues, Expenditures and Changes in Fund Balance …………………………….. 1 - 2 Exhibit A - Allocation of Fund Balances ………………………………………………………………….3 Budget Narrative ……………………………………………………………………………………………4 - 7 DEBT SERVICE BUDGET Series 2018 Summary of Revenues, Expenditures and Changes in Fund Balances ……………………………..8 Amortization Schedule ……………………………………………………………………………………..9 Budget Narrative …………………………………………………………………………………………………10 SUPPORTING BUDGET SCHEDULES Non-Ad Valorem Assessment Summary ………………………………………………………..11 Table of Contents Fiscal Year 2025 HERITAGE BAY Community Development District Operating Budget HERITAGE BAY Community Development District General Fund ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU May-PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2022 FY 2023 FY 2024 4/30/2024 9/30/2024 FY 2024 FY 2025 REVENUES Interest - Investments 3,228$ 46,371$ 51,001$ 49,072$ 1,929$ 51,001$ 46,844$ Interest - Tax Collector 148 1,360 -2,317 -2,317 - Special Assmnts- Tax Collector 355,190 355,189 505,604 500,624 4,980 505,604 553,401 Special Assmnts- Lakes 30A & 30B 60,923 60,923 ----- Special Assmnts- Reserves 31,250 31,250 31,250 30,942 308 31,250 31,250 Special Assmnts- Discounts (16,667)(16,073)(21,474)(19,729)(1,745)(21,474)(23,386) Other Miscellaneous Revenue 111,125 29,750 ---- TOTAL REVENUES 545,197 508,770 566,382 563,226 5,472 568,698 608,109 EXPENDITURES Administrative P/R-Board of Supervisors 7,000 5,000 9,000 2,000 7,000 9,000 9,181 FICA Taxes 536 383 689 153 536 689 689 ProfServ-Arbitrage Rebate -600 -600 600 600 ProfServ-Dissemination Agent 1,500 1,500 1,500 250 1,250 1,500 1,500 ProfServ-Engineering 21,635 4,692 12,000 1,698 10,302 12,000 12,000 ProfServ-Legal Services 18,078 5,008 11,500 1,285 10,215 11,500 11,500 ProfServ-Mgmt Consulting Serv 49,613 50,561 52,078 30,379 21,699 52,078 53,640 ProfServ-Property Appraiser 29 4,591 8,053 8,271 -8,271 8,053 ProfServ-Special Assessment 7,002 7,212 7,428 7,212 216 7,428 7,651 ProfServ-Trustee Fees 6,468 4,880 8,468 2,846 5,622 8,468 8,468 ProfServ-Web Site Maintenance 1,167 1,202 1,238 723 515 1,238 1,275 Auditing Services 4,900 5,000 5,000 4,200 800 5,000 5,000 Website Compliance 1,553 1,553 1,553 776 777 1,553 1,553 Postage and Freight 815 450 1,000 1,830 -1,830 1,000 Insurance - General Liability 7,749 7,849 9,419 8,936 483 9,419 9,419 Printing and Binding 1,754 2,335 1,800 1,397 403 1,800 1,800 Legal Advertising 1,351 4,610 2,000 498 1,502 2,000 2,000 Misc-Bank Charges 88 31 100 -100 100 100 Misc-Assessmnt Collection Cost 5,395 3,963 10,737 10,236 501 10,737 11,693 Misc-Web Hosting 103 2,499 1,500 -1,500 1,500 1,500 Office Supplies 450 -100 -100 100 100 Annual District Filing Fee 175 175 175 175 -175 175 Total Administrative 137,361 113,494 145,938 82,865 64,121 146,986 148,897 Field ProfServ-Field Management 13,968 14,019 14,440 3,610 10,830 14,440 4,958 R&M-Contingency --100 -100 100 100 Total Field 13,968 14,019 14,540 3,610 10,930 14,540 5,058 Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2025 Budget Annual Operating and Debt Service Budget Fiscal Year 2025 1 HERITAGE BAY Community Development District General Fund ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU May-PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2022 FY 2023 FY 2024 4/30/2024 9/30/2024 FY 2024 FY 2025 Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2025 Budget Lakes and Ponds Contracts-Lakes and Wetland -97,200 71,200 39,200 32,000 71,200 71,200 Contracts-Water Analysis --9,861 -9,861 9,861 9,861 Contracts-Water Quality Monitoring 25,380 24,509 20,905 12,843 8,062 20,905 20,905 Contracts-Lakes 30A & 30B 24,000 24,000 24,000 14,000 10,000 24,000 24,000 Contracts-Sediment Testing --5,483 -5,483 5,483 5,483 Contracts-Lakes 1-29 67,200 ------ R&M-Aquascaping 2,470 3,766 4,175 -4,175 4,175 4,175 R&M - Stormwater System --4,000 -4,000 4,000 4,000 R&M-Lake Erosion 199,495 135,158 100,000 84,600 15,400 100,000 131,250 R&M-Contingency 57,180 5,000 7,825 -7,825 7,825 7,825 Reserve - Lakes 109,400 -140,000 -140,000 140,000 157,000 Reserve - Stormwater System --18,455 -18,455 18,455 18,455 Total Lakes and Ponds 485,125 289,633 405,904 150,643 255,261 405,904 454,154 TOTAL EXPENDITURES 636,454 417,146 566,382 237,118 330,312 567,430 608,109 Excess (deficiency) of revenues Over (under) expenditures (91,257)91,624 -326,108 (324,840)1,268 - Net change in fund balance (91,257)91,624 -855,190 (324,840)1,268 - FUND BALANCE, BEGINNING 681,769 590,512$ 855,190 855,190 -855,190 856,458 FUND BALANCE, ENDING 590,512$ 682,139$ 855,190$ 1,181,298$ (324,840)$ 856,458$ 856,458$ Annual Operating and Debt Service Budget Fiscal Year 2025 2 HERITAGE BAY Community Development District General Fund AVAILABLE FUNDS Amount Beginning Fund Balance - Fiscal Year 2025 856,458$ Net Change in Fund Balance - Fiscal Year 2025 - Reserves - Fiscal Year 2025 Additions 175,455 Total Funds Available (Estimated) - 9/30/2025 1,031,913 Assigned Fund Balance Operating Reserve - First Quarter Operating Capital 108,164 (1) Reserves - Erosion Control (Prior years)14,687 (2) Reserves - Lakes (Prior Years)190,475 (2) Reserves - Lakes FY 2024 140,000 Reserves - Lakes FY 2025 157,000 487,475 Reserves - Stormwater System (Prior Years)58,675 (2) Reserves - Stormwater System FY 2024 18,455 Reserves - Stormwater System FY 2025 18,455 95,585 Total Allocation of Available Funds 705,911 Total Unassigned (undesignated) Cash 326,002$ Notes (1) Represents approximately 3 months of operating expenditures. (2) Ties to motion to assign fund balance as of 9/30/2023. ALLOCATION OF AVAILABLE FUNDS Allocation of Fund Balances Exhibit "A" Annual Operating and Debt Service Budget Fiscal Year 2025 3 HERITAGE BAY Community Development District General Fund Budget Narrative Fiscal Year 2025 Annual Operating and Debt Service Budget Fiscal Year 2025 REVENUES Interest-Investments The District earns interest on the monthly average collected balance for their money market accounts. Special Assessments-Tax Collector The District will levy a Non-Ad Valorem assessment on all sold and platted parcels (using the uniform method) within the District in order to pay for the operating expenditures during the Fiscal Year. Special Assessments-Reserves The District will levy a Non-Ad Valorem assessment on all sold and platted parcels (using the uniform method) within the District in order re-establish reserves which were depleted due to the District having to address numerous lake bank erosion issues. Special Assessments-Discounts Per Section 197.162 and Section 197.3632 of the Florida Statutes, discounts are allowed for early payments of assessments collected by the Tax Collector and only when the Tax Collector is using the uniform methodology. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments. EXPENDITURES Administrative. P/R-Board of Supervisors Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting at which they are in attendance. The amount for the Fiscal Year is based upon all supervisors attending all meetings. FICA Taxes are calculated at 7.65% of gross payroll. Professional Services-Arbitrage Rebate The District contracted with an independent professional firm to annually calculate the District's Arbitrage Rebate Liability on its bonds Professional Services-Dissemination Agent This line item is to cover dissemination services as required. Services are provided by Inframark. Professional Services-Engineering The District's engineer provides general engineering services to the District, i.e. attendance and preparation for board meetings when requested, review of invoices, and other specifically requested assignments. Professional Services-Legal Services The District’s attorney provides general legal services to the District, i.e., attendance and preparation for Board meetings, review of contracts, agreements, resolutions and other research as directed or requested by the BOS District Manager. 4 HERITAGE BAY Community Development District General Fund Budget Narrative Fiscal Year 2025 Annual Operating and Debt Service Budget Fiscal Year 2025 EXPENDITURES Administrative (continued) Professional Services-Management Consulting Services The District receives Management, Accounting and Administrative services as part of a Management Agreement with Inframark Infrastructure Management Services. Inframark manages all of the District’s financial activities such as accounts payable, financial statements, auditing and budgeting in accordance with the management contract in effect. Professional Services-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 which is based upon 1.5% of the anticipated Non-Ad Valorem assessment collections. Professional Services-Special Assessment This is the Administrative fees to prepare the District’s special assessment roll. Professional Services-Trustee Fees The District pays US Bank an annual fee for trustee services on the Series 2018 Special Assessment Bond. The budgeted amount for the fiscal year is based on standard fees charged plus any out-of-pocket expenses. Professional Services-Web Site Maintenance The cost of web hosting and regular maintenance of the District’s website by Inframark Infrastructure Management Services. Auditing Services The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from an existing engagement letter. Website Compliance Inframark Infrastructure Management Services oversees the District’s email accounts and provides assistance to Campus Suite regarding the website as necessary. Postage and Freight Actual postage used for District mailings including agenda packages, vendor checks and other correspondence. Insurance-General Liability The District's General Liability & Public Officials Liability Insurance policy is with Public Risk Insurance Agency, Inc. They specialize in providing governmental insurance coverage. The budgeted amount projects a 10% increase in the premium. Printing and Binding Copies used in the preparation of agenda packages, required mailings, and other special projects. 5 HERITAGE BAY Community Development District General Fund Budget Narrative Fiscal Year 2025 Annual Operating and Debt Service Budget Fiscal Year 2025 EXPENDITURES (continued) Administrative (continued) Legal Advertising The District is required to advertise various notices for Board meetings and other public hearings in a newspaper of general circulation. Miscellaneous-Bank Charges In the rare event of bank service charges from operating or money market accounts, the cost will be assigned here. Miscellaneous-Assessment Collection Costs The District reimburses the Collier County 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 assessment collection cost is based on a maximum of 2% of the anticipated assessment collections. Miscellaneous-Web Hosting The District incurs the cost of owning the Heritage Bay CDD web domain. Office Supplies Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects. Annual District Filing Fee The District is required to pay an annual fee of $175 to the Department of Economic Opportunity Division of Community Development. Field Professional Services-Field Management Field Management Services for the District is performed by Inframark Infrastructure Management Services. This includes the regular inspection of all District assets and contractor performance monitoring. A monthly report is provided for the Board’s review to allow for their consideration of issues and action to consider. R&M-Contingency All other field expenses that do not fall into the category described above will be expensed to contingency. Lakes & Ponds Contracts-Water Analysis A contract was negotiated with CPH for bathymetric to be performed on Lakes. Contracts-Water Quality A contract was negotiated with CPH for testing of the lakes and water quality monitoring. 6 HERITAGE BAY Community Development District General Fund Budget Narrative Fiscal Year 2025 Annual Operating and Debt Service Budget Fiscal Year 2025 EXPENDITURES (continued) Lakes & Ponds (continued) Contracts-Lakes and Wetland A contract was negotiated with Solitude Lake Management LLC for monthly lake maintenance of the district’s lakes and littoral shelf maintenance which includes approximately 14.52 acres. Fluoridone Treatment was added May 2015. Contracts-Lakes 30A & 30B A contract was negotiated with Solitude Lake Management LLC for monthly maintenance of lakes 30A & 30B. Contracts-Sediment Testing Contract with CPH to do sediment testing in the district lakes. R&M-Aquascaping This is for any repair and maintenance expenses pertaining to the District’s lakes that are not covered in the contract. R&M-Stormwater System This is for any repair and maintenance expenses pertaining to the stormwater system. R&M-Lake Erosion This is for any repair and maintenance expenses pertaining to erosion control that are not covered in the contract. R&M-Contingency All other lake expenses that do not fall into the previous repair and maintenance categories will be expensed to contingency. Reserve-Lakes Lake improvement expenses that are projected to occur in the future are appropriated with this account. Reserve-Stormwater System Stormwater system/drainage expenses that are projected to occur in the future are appropriated with this account. . 7 HERITAGE BAY Community Development District Debt Service Budget Fiscal Year 2025 HERITAGE BAY Community Development District Debt Service ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU May-PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2022 FY 2023 FY 2024 Apr-24 9/30/2024 FY 2024 FY 2025 Interest - Investments 3,016$ 47,860$ 1,000$ 36,693$ 7,339$ 44,032$ -$ Special Assmnts- Tax Collector 1,689,156 1,689,155 1,689,155 1,672,517 16,638 1,689,155 1,689,155 Special Assmnts- Discounts (62,932)(60,692)(67,566)(62,076)(5,490)(67,566)(67,566) TOTAL REVENUES 1,629,240 1,676,323 1,622,589 1,647,134 18,487 1,665,621 1,621,589 EXPENDITURES Administrative ProfServ-Property Appraiser --25,337 -25,337 25,337 25,337 Misc-Assessmnt Collection Cost 20,372 14,965 33,783 32,209 -32,209 33,783 Total Administrative 20,372 14,965 59,120 32,209 25,337 57,546 59,120 Debt Service Principal Debt Retirement 1,055,000 1,085,000 1,115,000 ---1,140,000 Principal Prepayments 10,000 15,000 -10,000 -10,000 - Interest Expense 511,356 484,706 456,150 227,934 -227,934 426,444 Total Debt Service 1,576,356 1,584,706 1,571,150 237,934 -237,934 1,566,444 TOTAL EXPENDITURES 1,596,728 1,599,671 1,630,270 270,143 25,337 295,480 1,625,564 Excess (deficiency) of revenues Over (under) expenditures 32,512 76,652 (7,681)1,376,991 (6,850)1,370,141 (3,975) OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance --(7,681)---(3,975) TOTAL OTHER SOURCES (USES)--(7,681)---(3,975) Net change in fund balance 32,512 76,652 (7,681)1,376,991 (6,850)1,370,141 (3,975) FUND BALANCE, BEGINNING 925,093 957,604 1,034,256 1,034,256 -1,034,256 2,404,397 FUND BALANCE, ENDING 957,605$ 1,034,256$ 1,026,575$ 2,411,247$ (6,850)$ 2,404,397$ 2,400,421$ REVENUES Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2025 Budget Annual Operating and Debt Service Budget Fiscal Year 2025 8 HERITAGE BAY Community Development District General Fund Date Outstanding Par Principal Rate Interest Total 11/1/2024 13,535,000$ 2.63% $ 213,222 $ 213,221.88 5/1/2025 13,535,000$ 1,140,000$ $ 213,222 $ 1,353,221.88 11/1/2025 12,395,000$ 2.75% $ 197,547 $ 197,546.88 5/1/2026 12,395,000$ 1,175,000$ $ 197,547 $ 1,372,546.88 11/1/2026 11,220,000$ 3.00% $ 179,922 $ 179,921.88 5/1/2027 11,220,000$ 1,210,000$ $ 179,922 $ 1,389,921.88 11/1/2027 10,010,000$ 3.00% $ 161,772 $ 161,771.88 5/1/2028 10,010,000$ 1,245,000$ $ 161,772 $ 1,406,771.88 11/1/2028 8,765,000$ 3.00% $ 143,097 $ 143,096.88 5/1/2029 8,765,000$ 1,285,000$ $ 143,097 $ 1,428,096.88 11/1/2029 7,480,000$ 3.00% $ 123,822 $ 123,821.88 5/1/2030 7,480,000$ 965,000$ $ 123,822 $ 1,088,821.88 11/1/2030 6,515,000$ 3.13% $ 108,744 $ 108,743.75 5/1/2031 6,515,000$ 1,000,000$ $ 108,744 $ 1,108,743.75 11/1/2031 5,515,000$ 3.25% $ 92,494 $ 92,493.75 5/1/2032 5,515,000$ 1,030,000$ $ 92,494 $ 1,122,493.75 11/1/2032 4,485,000$ 3.25% $ 75,756 $ 75,756.25 5/1/2033 4,485,000$ 1,065,000$ $ 75,756 $ 1,140,756.25 11/1/2033 3,420,000$ 3.25% $ 58,450 $ 58,450.00 5/1/2034 3,420,000$ 1,100,000$ $ 58,450 $ 1,158,450.00 11/1/2034 2,320,000$ 3.38% $ 39,888 $ 39,887.50 5/1/2035 2,320,000$ 1,140,000$ $ 39,888 $ 1,179,887.50 11/1/2035 1,180,000$ 3.38% $ 20,650 $ 20,650.00 5/1/2036 1,180,000$ 1,180,000$ $ 20,650 $ 1,200,650.00 $ 13,535,000 $ 2,830,725 $ 16,365,725 Heritage Bay Community Development District Capital Improvement Revenue Refunding Bonds, Series 2018A Debt Service Schedule (After 05/01/2023 Payment Date) Annual Operating and Debt Service Budget Fiscal Year 2025 9 HERITAGE BAY Community Development District Debt Service Fund Budget Narrative Fiscal Year 2025 Annual Operating and Debt Service Budget Fiscal Year 2025 REVENUES Interest-Investments The District earns interest on the monthly average collected balance for their trust accounts. Special Assessments-Tax Collector The District will levy a Non-Ad Valorem assessment on all sold and platted parcels (using the uniform method) within the District in order to pay for the operating expenditures during the Fiscal Year. Special Assessments-Discounts Per Section 197.162 and Section 197.3632 of the Florida Statutes, discounts are allowed for early payments of assessments collected by the Tax Collector and only when the Tax Collector is using the uniform methodology. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments. EXPENDITURES Administrative Professional Services-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. The property appraiser cost is based upon 1.5% of the anticipated Non-Ad Valorem assessment collections. Miscellaneous-Assessment Collection Costs The District reimburses the Collier County 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 assessment collection cost is based on a maximum of 2% of the anticipated assessment collections. Debt Service Principal Debt Retirement The District pays regular principal payments annually in order to pay down/retire the debt. Interest Expense The District makes semi-annual interest payments on the outstanding debt. 10 Supporting Budget Schedules Fiscal Year 2025 HERITAGE BAY Community Development District HERITAGE BAY Community Development District All Funds Comparison of Assessment Rates Fiscal Year 2025 vs. Fiscal Year 2024 Units FY 2025 FY 2024 Percent FY 2025 FY 2024 Percent FY 2025 FY 2024 Dollar Percent Product Change Change Change Change Executive $468 $429 8.90%$1,929 $1,929 0%$2,397 $2,358 $38 2%139 Classics $468 $429 8.90%$3,050 $3,050 0%$3,518 $3,480 $38 1%95 Classics II $468 $429 8.90%$3,295 $3,295 0%$3,762 $3,724 $38 1%18 Coach $468 $429 8.90%$1,362 $1,362 0%$1,829 $1,791 $38 2%184 2 Story $468 $429 8.90%$1,135 $1,135 0%$1,602 $1,564 $38 2%364 4 Story $468 $429 8.90%$908 $908 0%$1,375 $1,337 $38 3%450 1250 100,000$ Product Per Product Per Unit O&M % Increase Per Unit O&M $ Increase FY2025 FY2024 FY2023 FY2022 FY2021 Executive $0 0%$0 $468 $429 $358 $358 $358 Classics $0 0%$0 $468 $429 $358 $358 $358 Classics II $0 0%$0 $468 $429 $358 $358 $358 Coach $0 0%$0 $468 $429 $358 $358 $358 2 Story $0 0%$0 $468 $429 $358 $358 $358 4 Story $0 0%$0 $468 $429 $358 $358 $358 Total 108,108$ Collection costs included General Fund Series 2018 Debt Service Total Assessments per Unit ASSESSMENT INCREASE ANALYSIS Assessment Increase ASSESSMENT TREND ANALYSIS - GENERAL FUND Annual Operating and Debt Service Budget Fiscal Year 2025 11 HERITAGE BAY Community Development District Annual Operating and Debt service Budget Fiscal Year 2025 Prepared by: Approved Tentative Budget Approved on 06/06/2024 HERITAGE BAY Community Development District Page # OPERATING BUDGET General Fund Summary of Revenues, Expenditures and Changes in Fund Balance …………………………….. 1 - 2 Exhibit A - Allocation of Fund Balances ………………………………………………………………….3 Budget Narrative ……………………………………………………………………………………………4 - 7 DEBT SERVICE BUDGET Series 2018 Summary of Revenues, Expenditures and Changes in Fund Balances ……………………………..8 Amortization Schedule ……………………………………………………………………………………..9 Budget Narrative …………………………………………………………………………………………………10 SUPPORTING BUDGET SCHEDULES Non-Ad Valorem Assessment Summary ………………………………………………………..11 Table of Contents Fiscal Year 2025 HERITAGE BAY Community Development District Operating Budget HERITAGE BAY Community Development District General Fund ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU May-PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2022 FY 2023 FY 2024 4/30/2024 9/30/2024 FY 2024 FY 2025 REVENUES Interest - Investments 3,228$ 46,371$ 51,001$ 49,072$ 1,929$ 51,001$ 46,844$ Interest - Tax Collector 148 1,360 -2,317 -2,317 - Special Assmnts- Tax Collector 355,190 355,189 505,604 500,624 4,980 505,604 553,401 Special Assmnts- Lakes 30A & 30B 60,923 60,923 ----- Special Assmnts- Reserves 31,250 31,250 31,250 30,942 308 31,250 31,250 Special Assmnts- Discounts (16,667)(16,073)(21,474)(19,729)(1,745)(21,474)(23,386) Other Miscellaneous Revenue 111,125 29,750 ---- TOTAL REVENUES 545,197 508,770 566,382 563,226 5,472 568,698 608,109 EXPENDITURES Administrative P/R-Board of Supervisors 7,000 5,000 9,000 2,000 7,000 9,000 9,181 FICA Taxes 536 383 689 153 536 689 689 ProfServ-Arbitrage Rebate -600 -600 600 600 ProfServ-Dissemination Agent 1,500 1,500 1,500 250 1,250 1,500 1,500 ProfServ-Engineering 21,635 4,692 12,000 1,698 10,302 12,000 12,000 ProfServ-Legal Services 18,078 5,008 11,500 1,285 10,215 11,500 11,500 ProfServ-Mgmt Consulting Serv 49,613 50,561 52,078 30,379 21,699 52,078 53,640 ProfServ-Property Appraiser 29 4,591 8,053 8,271 -8,271 8,053 ProfServ-Special Assessment 7,002 7,212 7,428 7,212 216 7,428 7,651 ProfServ-Trustee Fees 6,468 4,880 8,468 2,846 5,622 8,468 8,468 ProfServ-Web Site Maintenance 1,167 1,202 1,238 723 515 1,238 1,275 Auditing Services 4,900 5,000 5,000 4,200 800 5,000 5,000 Website Compliance 1,553 1,553 1,553 776 777 1,553 1,553 Postage and Freight 815 450 1,000 1,830 -1,830 1,000 Insurance - General Liability 7,749 7,849 9,419 8,936 483 9,419 9,419 Printing and Binding 1,754 2,335 1,800 1,397 403 1,800 1,800 Legal Advertising 1,351 4,610 2,000 498 1,502 2,000 2,000 Misc-Bank Charges 88 31 100 -100 100 100 Misc-Assessmnt Collection Cost 5,395 3,963 10,737 10,236 501 10,737 11,693 Misc-Web Hosting 103 2,499 1,500 -1,500 1,500 1,500 Office Supplies 450 -100 -100 100 100 Annual District Filing Fee 175 175 175 175 -175 175 Total Administrative 137,361 113,494 145,938 82,865 64,121 146,986 148,897 Field ProfServ-Field Management 13,968 14,019 14,440 3,610 10,830 14,440 4,958 R&M-Contingency --100 -100 100 100 Total Field 13,968 14,019 14,540 3,610 10,930 14,540 5,058 Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2025 Budget Annual Operating and Debt Service Budget Fiscal Year 2025 1 HERITAGE BAY Community Development District General Fund ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU May-PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2022 FY 2023 FY 2024 4/30/2024 9/30/2024 FY 2024 FY 2025 Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2025 Budget Lakes and Ponds Contracts-Lakes and Wetland -97,200 71,200 39,200 32,000 71,200 71,200 Contracts-Water Analysis --9,861 -9,861 9,861 9,861 Contracts-Water Quality Monitoring 25,380 24,509 20,905 12,843 8,062 20,905 20,905 Contracts-Lakes 30A & 30B 24,000 24,000 24,000 14,000 10,000 24,000 24,000 Contracts-Sediment Testing --5,483 -5,483 5,483 5,483 Contracts-Lakes 1-29 67,200 ------ R&M-Aquascaping 2,470 3,766 4,175 -4,175 4,175 4,175 R&M - Stormwater System --4,000 -4,000 4,000 4,000 R&M-Lake Erosion 199,495 135,158 100,000 84,600 15,400 100,000 131,250 R&M-Contingency 57,180 5,000 7,825 -7,825 7,825 7,825 Reserve - Lakes 109,400 -140,000 -140,000 140,000 157,000 Reserve - Stormwater System --18,455 -18,455 18,455 18,455 Total Lakes and Ponds 485,125 289,633 405,904 150,643 255,261 405,904 454,154 TOTAL EXPENDITURES 636,454 417,146 566,382 237,118 330,312 567,430 608,109 Excess (deficiency) of revenues Over (under) expenditures (91,257)91,624 -326,108 (324,840)1,268 - Net change in fund balance (91,257)91,624 -855,190 (324,840)1,268 - FUND BALANCE, BEGINNING 681,769 590,512$ 855,190 855,190 -855,190 856,458 FUND BALANCE, ENDING 590,512$ 682,139$ 855,190$ 1,181,298$ (324,840)$ 856,458$ 856,458$ Annual Operating and Debt Service Budget Fiscal Year 2025 2 HERITAGE BAY Community Development District General Fund AVAILABLE FUNDS Amount Beginning Fund Balance - Fiscal Year 2025 856,458$ Net Change in Fund Balance - Fiscal Year 2025 - Reserves - Fiscal Year 2025 Additions 175,455 Total Funds Available (Estimated) - 9/30/2025 1,031,913 Assigned Fund Balance Operating Reserve - First Quarter Operating Capital 108,164 (1) Reserves - Erosion Control (Prior years)14,687 (2) Reserves - Lakes (Prior Years)190,475 (2) Reserves - Lakes FY 2024 140,000 Reserves - Lakes FY 2025 157,000 487,475 Reserves - Stormwater System (Prior Years)58,675 (2) Reserves - Stormwater System FY 2024 18,455 Reserves - Stormwater System FY 2025 18,455 95,585 Total Allocation of Available Funds 705,911 Total Unassigned (undesignated) Cash 326,002$ Notes (1) Represents approximately 3 months of operating expenditures. (2) Ties to motion to assign fund balance as of 9/30/2023. ALLOCATION OF AVAILABLE FUNDS Allocation of Fund Balances Exhibit "A" Annual Operating and Debt Service Budget Fiscal Year 2025 3 HERITAGE BAY Community Development District General Fund Budget Narrative Fiscal Year 2025 Annual Operating and Debt Service Budget Fiscal Year 2025 REVENUES Interest-Investments The District earns interest on the monthly average collected balance for their money market accounts. Special Assessments-Tax Collector The District will levy a Non-Ad Valorem assessment on all sold and platted parcels (using the uniform method) within the District in order to pay for the operating expenditures during the Fiscal Year. Special Assessments-Reserves The District will levy a Non-Ad Valorem assessment on all sold and platted parcels (using the uniform method) within the District in order re-establish reserves which were depleted due to the District having to address numerous lake bank erosion issues. Special Assessments-Discounts Per Section 197.162 and Section 197.3632 of the Florida Statutes, discounts are allowed for early payments of assessments collected by the Tax Collector and only when the Tax Collector is using the uniform methodology. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments. EXPENDITURES Administrative. P/R-Board of Supervisors Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting at which they are in attendance. The amount for the Fiscal Year is based upon all supervisors attending all meetings. FICA Taxes are calculated at 7.65% of gross payroll. Professional Services-Arbitrage Rebate The District contracted with an independent professional firm to annually calculate the District's Arbitrage Rebate Liability on its bonds Professional Services-Dissemination Agent This line item is to cover dissemination services as required. Services are provided by Inframark. Professional Services-Engineering The District's engineer provides general engineering services to the District, i.e. attendance and preparation for board meetings when requested, review of invoices, and other specifically requested assignments. Professional Services-Legal Services The District’s attorney provides general legal services to the District, i.e., attendance and preparation for Board meetings, review of contracts, agreements, resolutions and other research as directed or requested by the BOS District Manager. 4 HERITAGE BAY Community Development District General Fund Budget Narrative Fiscal Year 2025 Annual Operating and Debt Service Budget Fiscal Year 2025 EXPENDITURES Administrative (continued) Professional Services-Management Consulting Services The District receives Management, Accounting and Administrative services as part of a Management Agreement with Inframark Infrastructure Management Services. Inframark manages all of the District’s financial activities such as accounts payable, financial statements, auditing and budgeting in accordance with the management contract in effect. Professional Services-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 which is based upon 1.5% of the anticipated Non-Ad Valorem assessment collections. Professional Services-Special Assessment This is the Administrative fees to prepare the District’s special assessment roll. Professional Services-Trustee Fees The District pays US Bank an annual fee for trustee services on the Series 2018 Special Assessment Bond. The budgeted amount for the fiscal year is based on standard fees charged plus any out-of-pocket expenses. Professional Services-Web Site Maintenance The cost of web hosting and regular maintenance of the District’s website by Inframark Infrastructure Management Services. Auditing Services The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from an existing engagement letter. Website Compliance Inframark Infrastructure Management Services oversees the District’s email accounts and provides assistance to Campus Suite regarding the website as necessary. Postage and Freight Actual postage used for District mailings including agenda packages, vendor checks and other correspondence. Insurance-General Liability The District's General Liability & Public Officials Liability Insurance policy is with Public Risk Insurance Agency, Inc. They specialize in providing governmental insurance coverage. The budgeted amount projects a 10% increase in the premium. Printing and Binding Copies used in the preparation of agenda packages, required mailings, and other special projects. 5 HERITAGE BAY Community Development District General Fund Budget Narrative Fiscal Year 2025 Annual Operating and Debt Service Budget Fiscal Year 2025 EXPENDITURES (continued) Administrative (continued) Legal Advertising The District is required to advertise various notices for Board meetings and other public hearings in a newspaper of general circulation. Miscellaneous-Bank Charges In the rare event of bank service charges from operating or money market accounts, the cost will be assigned here. Miscellaneous-Assessment Collection Costs The District reimburses the Collier County 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 assessment collection cost is based on a maximum of 2% of the anticipated assessment collections. Miscellaneous-Web Hosting The District incurs the cost of owning the Heritage Bay CDD web domain. Office Supplies Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects. Annual District Filing Fee The District is required to pay an annual fee of $175 to the Department of Economic Opportunity Division of Community Development. Field Professional Services-Field Management Field Management Services for the District is performed by Inframark Infrastructure Management Services. This includes the regular inspection of all District assets and contractor performance monitoring. A monthly report is provided for the Board’s review to allow for their consideration of issues and action to consider. R&M-Contingency All other field expenses that do not fall into the category described above will be expensed to contingency. Lakes & Ponds Contracts-Water Analysis A contract was negotiated with CPH for bathymetric to be performed on Lakes. Contracts-Water Quality A contract was negotiated with CPH for testing of the lakes and water quality monitoring. 6 HERITAGE BAY Community Development District General Fund Budget Narrative Fiscal Year 2025 Annual Operating and Debt Service Budget Fiscal Year 2025 EXPENDITURES (continued) Lakes & Ponds (continued) Contracts-Lakes and Wetland A contract was negotiated with Solitude Lake Management LLC for monthly lake maintenance of the district’s lakes and littoral shelf maintenance which includes approximately 14.52 acres. Fluoridone Treatment was added May 2015. Contracts-Lakes 30A & 30B A contract was negotiated with Solitude Lake Management LLC for monthly maintenance of lakes 30A & 30B. Contracts-Sediment Testing Contract with CPH to do sediment testing in the district lakes. R&M-Aquascaping This is for any repair and maintenance expenses pertaining to the District’s lakes that are not covered in the contract. R&M-Stormwater System This is for any repair and maintenance expenses pertaining to the stormwater system. R&M-Lake Erosion This is for any repair and maintenance expenses pertaining to erosion control that are not covered in the contract. R&M-Contingency All other lake expenses that do not fall into the previous repair and maintenance categories will be expensed to contingency. Reserve-Lakes Lake improvement expenses that are projected to occur in the future are appropriated with this account. Reserve-Stormwater System Stormwater system/drainage expenses that are projected to occur in the future are appropriated with this account. . 7 HERITAGE BAY Community Development District Debt Service Budget Fiscal Year 2025 HERITAGE BAY Community Development District Debt Service ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU May-PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2022 FY 2023 FY 2024 Apr-24 9/30/2024 FY 2024 FY 2025 Interest - Investments 3,016$ 47,860$ 1,000$ 36,693$ 7,339$ 44,032$ -$ Special Assmnts- Tax Collector 1,689,156 1,689,155 1,689,155 1,672,517 16,638 1,689,155 1,689,155 Special Assmnts- Discounts (62,932)(60,692)(67,566)(62,076)(5,490)(67,566)(67,566) TOTAL REVENUES 1,629,240 1,676,323 1,622,589 1,647,134 18,487 1,665,621 1,621,589 EXPENDITURES Administrative ProfServ-Property Appraiser --25,337 -25,337 25,337 25,337 Misc-Assessmnt Collection Cost 20,372 14,965 33,783 32,209 -32,209 33,783 Total Administrative 20,372 14,965 59,120 32,209 25,337 57,546 59,120 Debt Service Principal Debt Retirement 1,055,000 1,085,000 1,115,000 ---1,140,000 Principal Prepayments 10,000 15,000 -10,000 -10,000 - Interest Expense 511,356 484,706 456,150 227,934 -227,934 426,444 Total Debt Service 1,576,356 1,584,706 1,571,150 237,934 -237,934 1,566,444 TOTAL EXPENDITURES 1,596,728 1,599,671 1,630,270 270,143 25,337 295,480 1,625,564 Excess (deficiency) of revenues Over (under) expenditures 32,512 76,652 (7,681)1,376,991 (6,850)1,370,141 (3,975) OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance --(7,681)---(3,975) TOTAL OTHER SOURCES (USES)--(7,681)---(3,975) Net change in fund balance 32,512 76,652 (7,681)1,376,991 (6,850)1,370,141 (3,975) FUND BALANCE, BEGINNING 925,093 957,604 1,034,256 1,034,256 -1,034,256 2,404,397 FUND BALANCE, ENDING 957,605$ 1,034,256$ 1,026,575$ 2,411,247$ (6,850)$ 2,404,397$ 2,400,421$ REVENUES Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2025 Budget Annual Operating and Debt Service Budget Fiscal Year 2025 8 HERITAGE BAY Community Development District General Fund Date Outstanding Par Principal Rate Interest Total 11/1/2024 13,535,000$ 2.63% $ 213,222 $ 213,221.88 5/1/2025 13,535,000$ 1,140,000$ $ 213,222 $ 1,353,221.88 11/1/2025 12,395,000$ 2.75% $ 197,547 $ 197,546.88 5/1/2026 12,395,000$ 1,175,000$ $ 197,547 $ 1,372,546.88 11/1/2026 11,220,000$ 3.00% $ 179,922 $ 179,921.88 5/1/2027 11,220,000$ 1,210,000$ $ 179,922 $ 1,389,921.88 11/1/2027 10,010,000$ 3.00% $ 161,772 $ 161,771.88 5/1/2028 10,010,000$ 1,245,000$ $ 161,772 $ 1,406,771.88 11/1/2028 8,765,000$ 3.00% $ 143,097 $ 143,096.88 5/1/2029 8,765,000$ 1,285,000$ $ 143,097 $ 1,428,096.88 11/1/2029 7,480,000$ 3.00% $ 123,822 $ 123,821.88 5/1/2030 7,480,000$ 965,000$ $ 123,822 $ 1,088,821.88 11/1/2030 6,515,000$ 3.13% $ 108,744 $ 108,743.75 5/1/2031 6,515,000$ 1,000,000$ $ 108,744 $ 1,108,743.75 11/1/2031 5,515,000$ 3.25% $ 92,494 $ 92,493.75 5/1/2032 5,515,000$ 1,030,000$ $ 92,494 $ 1,122,493.75 11/1/2032 4,485,000$ 3.25% $ 75,756 $ 75,756.25 5/1/2033 4,485,000$ 1,065,000$ $ 75,756 $ 1,140,756.25 11/1/2033 3,420,000$ 3.25% $ 58,450 $ 58,450.00 5/1/2034 3,420,000$ 1,100,000$ $ 58,450 $ 1,158,450.00 11/1/2034 2,320,000$ 3.38% $ 39,888 $ 39,887.50 5/1/2035 2,320,000$ 1,140,000$ $ 39,888 $ 1,179,887.50 11/1/2035 1,180,000$ 3.38% $ 20,650 $ 20,650.00 5/1/2036 1,180,000$ 1,180,000$ $ 20,650 $ 1,200,650.00 $ 13,535,000 $ 2,830,725 $ 16,365,725 Heritage Bay Community Development District Capital Improvement Revenue Refunding Bonds, Series 2018A Debt Service Schedule (After 05/01/2023 Payment Date) Annual Operating and Debt Service Budget Fiscal Year 2025 9 HERITAGE BAY Community Development District Debt Service Fund Budget Narrative Fiscal Year 2025 Annual Operating and Debt Service Budget Fiscal Year 2025 REVENUES Interest-Investments The District earns interest on the monthly average collected balance for their trust accounts. Special Assessments-Tax Collector The District will levy a Non-Ad Valorem assessment on all sold and platted parcels (using the uniform method) within the District in order to pay for the operating expenditures during the Fiscal Year. Special Assessments-Discounts Per Section 197.162 and Section 197.3632 of the Florida Statutes, discounts are allowed for early payments of assessments collected by the Tax Collector and only when the Tax Collector is using the uniform methodology. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments. EXPENDITURES Administrative Professional Services-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. The property appraiser cost is based upon 1.5% of the anticipated Non-Ad Valorem assessment collections. Miscellaneous-Assessment Collection Costs The District reimburses the Collier County 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 assessment collection cost is based on a maximum of 2% of the anticipated assessment collections. Debt Service Principal Debt Retirement The District pays regular principal payments annually in order to pay down/retire the debt. Interest Expense The District makes semi-annual interest payments on the outstanding debt. 10 Supporting Budget Schedules Fiscal Year 2025 HERITAGE BAY Community Development District HERITAGE BAY Community Development District All Funds Comparison of Assessment Rates Fiscal Year 2025 vs. Fiscal Year 2024 Units FY 2025 FY 2024 Percent FY 2025 FY 2024 Percent FY 2025 FY 2024 Dollar Percent Product Change Change Change Change Executive $468 $429 8.90%$1,929 $1,929 0%$2,397 $2,358 $38 2%139 Classics $468 $429 8.90%$3,050 $3,050 0%$3,518 $3,480 $38 1%95 Classics II $468 $429 8.90%$3,295 $3,295 0%$3,762 $3,724 $38 1%18 Coach $468 $429 8.90%$1,362 $1,362 0%$1,829 $1,791 $38 2%184 2 Story $468 $429 8.90%$1,135 $1,135 0%$1,602 $1,564 $38 2%364 4 Story $468 $429 8.90%$908 $908 0%$1,375 $1,337 $38 3%450 1250 100,000$ Product Per Product Per Unit O&M % Increase Per Unit O&M $ Increase FY2025 FY2024 FY2023 FY2022 FY2021 Executive $0 0%$0 $468 $429 $358 $358 $358 Classics $0 0%$0 $468 $429 $358 $358 $358 Classics II $0 0%$0 $468 $429 $358 $358 $358 Coach $0 0%$0 $468 $429 $358 $358 $358 2 Story $0 0%$0 $468 $429 $358 $358 $358 4 Story $0 0%$0 $468 $429 $358 $358 $358 Total 108,108$ Collection costs included General Fund Series 2018 Debt Service Total Assessments per Unit ASSESSMENT INCREASE ANALYSIS Assessment Increase ASSESSMENT TREND ANALYSIS - GENERAL FUND Annual Operating and Debt Service Budget Fiscal Year 2025 11