Dowden West Community Development District

Agenda April 20, 2023

AGENDA

Dowden West
Community Development District

219 E. Livingston Street, Orlando, Florida 32801
Phone: 407-841-5524- Fax: 407-839-1526

April 13, 2023

Board of Supervisors Dowden West Community Development District

Dear Board Members:

The Board of Supervisors of Dowden West Community Development District will meet Thursday, April 20, 2023 at 9:00 AM at the Offices of GMS-CF, LLC, 219 E. Livingston Street, Orlando, FL 32801. Following is the advance agenda for the meeting:

Roll Call
Public Comment Period
Organizational Matters
Appointment of Individual in Seat #2 to Fulfill the Board Vacancy with a Term Ending November 2023
Administration of Oath of Office to Newly Appointed Board Member(s)
Consideration of Resolution 2023-06 Electing Assistant Secretary
Approval of Minutes of March 16, 2023 Meeting
Ratification of Fiscal Year 2023 Deficit Funding Agreement
Consideration of Resolution 2023-05 Approving the Proposed Fiscal Year 2024 Budget and Setting a Public Hearing
Staff Reports
Attorney
Engineer
District Manager's Report
Approval of Check Register
Balance Sheet and Income Statement
Designating November 16, 2023 as the Landowners' Meeting Date
Supervisor's Requests
Other Business
Next Meeting Date
Adjournment

The balance of the agenda will be discussed at the meeting. In the meantime, if you have any questions, please contact me.

Sincerely,

CC: Jan Carpenter, District Counsel Peter Armans, District Engineer Darrin Mossing, GMS

Enclosures

SE.CTION Ill ·

SECTION C

RESOLUTION 2023-06

A RESOLUTION OF THE DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT ELECTING
	 AS ASSISTANT SECRETARY OF THE BOARD OF SUPERVISORS

WHEREAS, the Board of Supervisors of the Dowden West Community District desires to elect 	asanAssistant Secretary.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT:

1.		 is elected Assistant Secretary of the Board of Supervisors.

Adopted this 20th day of April, 2023.

Secretary/ Assistant Secretary	Chairman/Vice Chairman

MINUTES

MINUTES OF MEETING DOWDEN WEST
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Dowden West Community Development District was held Thursday, March 16, 2023 at 9:00 a.m. in the offices of GMS-CF, LLC, 219 E. Livingston Street, Orlando, Florida.

Present and constituting a quorum were:

Gabe Madlang Tom Franklin Dane Hamilton

Vice Chairperson Assistant Secretary Assistant Secretary

Also present were:

Jason Showe Jay Lazarovich
Peter Armans by phone

FIRST ORDER OF BUSINESS

District Manager District Counsel District Engineer

Roll Call

Mr. Showe called the meeting to order and called the roll.

SECOND ORDER OF BUSINESS	Public Comment Period
There being none, the next item followed.

THIRD ORDER OF BUSINESS	Organizational Matters
Appointment of Individual to Fill the Board Vacancy with a Term Ending November 2023
Administration of Oath of Office to Newly Appointed Board Member
Consideration of Resolution 2023-04Electing an Assistant Secretary
This item tabled.

FOURTH ORDER OF BUSINESS	Approval of the Minutes of the February 16,
2023 Meeting

On MOTION by Mr. Franklin seconded by Mr. Madlang with all in favor the minutes of the February 16, 2023 meeting were approved as presented.

1

FIFTH ORDER OF BUSINESS	Ratification	of	Acknowledgement	and
Consent Regarding the Stormwater Management System
Mr. Lazarovich: The city reached out to us regarding an encroachment for N-1C and after discussion with our engineer, we were able to enter into this agreement saying that once all the stormwater management system is complete it will be transferred to the CDD.

On MOTION by Mr. Madlang seconded by Mr. Franklin with all in favor execution of the acknowledgement and consent regarding the stormwater management system for N-1C was ratified.

SIXTH ORDER OF BUSINESS	Consideration	of	Resolution	2023-04
Approving the Conveyance of Real Property and improvements
Mr. Lazarovich: We had nine tracts between N-1B south and N-1C that we were waiting to have repaired or constructed fully and we were notified that everything is now complete and this is conveyance of those last few tracts subject to District sign-off. We are waiting on notice of termination of Tract O and once we have that, we can record the deed.

On MOTION by Mr. Franklin seconded by Mr. Madlang with all in favor Resolution 2023-04 Approving the Conveyance of Real Property and improvements was approved.

SEVENTH ORDER OF BUSINESS	Staff Reports
Attorney
There being none, the next item followed.

Engineer
Mr. Armans: We are working with the water management district to get a letter saying that in the future we anticipate taking on more stormwater that is going to be CDD for future phases.
We did a drive through of the tracts that are slated for conveyance and we have some minor items that we want addressed before we sign the certificate. We will be working with the attorney and developer on that.

Manager
Approval of Check Register
Mr. Showe presented the check register from February 4, 2023 through March 3, 2023 in the amount of$31,598.98.

On MOTION by Mr. Madlang seconded by Mr. Franklin with all in favor the check register was approved.

Balance Sheet and Income Statement
A copy of the balance sheet and income statement were included in the agenda package.

EIGHTH ORDER OF BUSINESS	Supervisor's Requests
There being none, the next item followed.

NINTH ORDER OF BUSINESS	Other Business
There being none, the next item followed.

TENTH ORDER OF BUSINESS	Next Meeting Date
Mr. Showe stated the next scheduled meeting will be held April 20, 2023.

ELEVENTH ORDER OF BUSINESS	Adjournment

On MOTION by Mr. Franklin seconded by Mr. Madlang with all in favor the meeting adjourned at 9:05 a.m.

Secretary/Assistant Secretary	ChairmanNice Chairman

SECTION V

DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023 GENERAL FUND BUDGET
DEFICIT FUNDING AGREEMENT

THIS DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023 GENERAL FUND BUDGET DEFICIT FUNDING AGREEMENT (the "Agreement"), effective
as of the l	 day of	f)qri l, 2023 (the "Effective Date"), between:
DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT, a local unit of special purpose government created under Chapter 190, Florida Statutes, whose mailing address is 219 E. Livingston Street, Orlando, Florida 32801 (the "District");

BEACHLINE SOUTH RESIDENTIAL, LLC, a Florida limited liability company, whose mailing address is 4901 Vineland Road, Suite 450, Orlando, Florida 32811 (the "Developer"); and

RECITALS

WHEREAS, the District is a local unit of special-purpose government established by Ordinance No.
2017-20 by the City Council of the City of Orlando, Florida; and

WHEREAS, the District, pursuant to Chapter 190, Florida Statutes, is authorized to levy such taxes, special assessments, fees and other charges as may be necessary in furtherance of the District's activities and services; and

WHEREAS, the District has adopted its general fund budget for its Fiscal Year 2023 operations and maintenance expenses in the amount of $ 4 i I 151  , which fiscal year commences on October 1, 2022, and concludes on September 30, 2023 ("Fiscal Year 2023 Budget"); and

WHEREAS, the Fiscal Year 2023 Budget, which all parties recognize may be amended from time to time in the sole discretion of the District, subject to the rights set forth in Section 1 herein, is attached hereto and incorporated herein by reference as Exhibit "A"; and

WHEREAS, the District has budgeted$  o51 L.( S:1 , for the Fiscal Year 2023 Budget, which is to be funded by the levy of assessments on benefited parcels; and

WHEREAS, the Developer presently owns and/or is developing real property described in Exhibit "B", attached hereto and incorporated herein, (the "Developer Property") within the District, which property will benefit from the timely construction and acquisition of the District's facilities, activities and services and from the continued operations of the District; and

WHEREAS, the Developer has informed the District that there may be additional improvements resulting in additional operation and/or maintenance costs during Fiscal Year 2023 that are not accounted for in the Fiscal Year 2023 Budget; and

WHEREAS, the assessments imposed by the District upon the benefited lands to fund the Fiscal Year 2023 Budget may result in a deficit in revenues received by the District in the event additional improvements or field activities are required during Fiscal Year 2023; and

WHEREAS, the Developer has requested, and the District has agreed that the District shall not levy operation and maintenance assessments in excess of$  '-{(   SJ   to fund the Fiscal Year 2023 Budget
and instead allow Developer to fund any monies needed in excess of the$w o&.1Lj 1 levied to fund the
current amounts provided in the Fiscal Year 2023 Budget.

Now THEREFORE, based upon good and valuable consideration and the mutual covenants of the parties, the receipt of which and sufficiency of which is hereby acknowledged, the parties do hereby agree as follows:

RECITALS. The foregoing recitals are true and correct and are incorporated herein by this reference.

FUNDING. Developer agrees to pay the District's actual Fiscal Year 2023 Budget expenses for Fiscal Year 2023, to the extent such expenses exceed the special assessments levied and collected by the District for the Fiscal Year 2023 Budget, within thirty (30) days of written request by the District. The funds shall be placed in the District's general checking account. Developer's payment of funds pursuant to this Agreement in no way impacts Developer's obligation to pay assessments on land it owns within the District. In no respect shall the foregoing in any way affect the District's ability to levy special assessments upon the property within the District, including the Developer Property, in accordance with Florida law to provide funds for any unfunded expenditures whether such expenditures are the result of an amendment to the District's Fiscal Year 2023 Budget or otherwise.

ALTERNATIVE METHODS OF COLLECTION. In the event Developer fails to make payments due to the District pursuant to this Agreement, and the District first provides the Developer with written notice at the address identified in Section 5 of this Agreement of the delinquency and such delinquency is not cured within five (5) business days of the notice, then the District shall have the following remedies:

The District shall have the right to file a continuing lien upon the Developer Property for all payments due and owing under the terms of this Agreement and for interest thereon, and for reasonable attorneys' fees, paralegals' fees, expenses and court costs incurred by the District incident to the collection of funds under this Agreement or for enforcement of this lien, and all sums advanced and paid by the District for taxes and payment on account of superior interests, liens and encumbrances in order to preserve and protect the District's lien. The lien shall be effective as of the date and time of the recording of a "Notice of Lien for FY 2022-2023 Budget" in the public records of Orange County, Florida, stating among other things, the description of the real property and the amount due as of the recording of the Notice, and the existence of this Agreement. The District Manager, in its sole discretion, is hereby authorized by the District to file the Notice of Lien for FY 2022-2023 Budget on behalf of the District, without the need of further Board action authorizing or directing such filing. At the District Manager's direction, the District may also bring an action at law against the record title holder to the Developer Property to pay the amount due under this

Agreement, or may foreclose the lien against the Property in any manner authorized by law. The District may partially release any filed lien for portions of the Property subject to a plat if and when Developer has demonstrated, in the District's sole discretion; such release will not materially impair the ability of the District to enforce the collection of funds hereunder. In the event the Developer sells any of the property subject to this Agreement after the execution of this Agreement, Developer's rights and obligations under this Agreement shall remain the same, provided however that the District shall only have the right to file a lien upon the remaining property owned by Developer.

In the alternative or in addition to the collection method set forth in 2.a., above, the District may enforce the collection of funds due under this Agreement by action against the Developer in the appropriate judicial forum in and for Orange County, Florida. The enforcement of the collection of funds in this manner shall be in the sole discretion of the District Manager on behalf of the District. In the event that any party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the prevailing party shall be entitled to recover from the other all costs incurred, including reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.

The District hereby finds that the activities, operations and services set out in Exhibit "A" would provide a special and peculiar benefit to the Developer Property, which benefit is determined in accordance with the District's adopted assessment methodology on file in the District's public records. Developer agrees that the activities, operations and services set forth in Exhibit A provide a special and peculiar benefit to the Developer Property equal to or in excess of the costs set out in Exhibit "A", as such may be amended by the District. Therefore, in the alternative or in addition to the other methods of collection set forth in this Agreement, the District, in its sole discretion, may choose to certify amounts due hereunder as a non-ad valorem assessment on the Developer's Property for collection either through the Uniform Method of Collection set forth in Chapter 197 or under any method of direct bill and collection authorized by Florida law. Such assessment, if imposed, may be certified on the next available tax roll of the Orange County property appraiser.

RIGHT TO REIMBURSEMENT. The Developer agrees to fund any of the District's Fiscal Year 2023 Budget expenses in excess of the Fiscal Year 2023 Budget assessments collected without any reimbursement by the District.

NOTICE. All notices, payments and other communications under this Agreement ("Notices") shall be in writing and delivered, mailed by First Class Mail, postage prepaid, or overnight delivery service, to the parties, as follows:

If to District:	Dowden West Community Development District
c/o Governmental Management Services - Central Florida, LLC 219 East Livingston Street,
Orlando, Florida 32801 Attention: District Manager

Copy to:

If to Developer:

Latham, Luna, Eden & Beaudine, LLP 201 S. Orange Avenue, Suite 1400
Orlando, Florida 32801
Attention: Jan Albanese Carpenter, District Counsel

Beachline South Residential, LLC 4901 Vineland Road, Suite 450,
Orlando, Florida 32811 Attention: Jonathan Droor

Except as otherwise provided in this Agreement, any Notice shall be deemed received upon actual delivery at the address set forth above, which may be evidenced by confirmation of delivery via overnight delivery service, United States postal service certified mail or by courier service. Notices delivered after 5:00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non-business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized by the United States government shall not be regarded as business days. Counsel for each party may deliver Notice on behalf of the respective party he/she represents. Any party or other person to whom Notices are to be sent or copied may notify the other parties and addressees of any change in name or address to which Notices shall be sent by providing the same on at least five (5) days written notice to the parties and addressees set forth herein.

AMENDMENT. This instrument shall constitute the final and complete expression of the agreement between the parties relating to the subject matter of this Agreement. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by both of the parties hereto.

AUTHORITY. The execution of this Agreement has been duly authorized by the appropriate body or official of all parties hereto, each party has complied with all the requirements of law, and each party has full power and authority to comply with the terms and provisions of this instrument.

ASSIGNMENT. This Agreement may not be assigned, in whole or in part, by either party except upon the written consent of the other. Any purported assignment without such consent shall be void.

DEFAULT. A default by any party under this Agreement shall entitle all others to all remedies available at law or in equity, which shall include, but not be limited to, the right of damages, injunctive relief and specific performance and specifically including the ability of the District to enforce any and all payment obligations under this Agreement through the imposition and enforcement of a contractual or other lien on property owned by the Developer.

ATTORNEYS' FEES. In the event that either party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the prevailing party shall be entitled to recover from the other all costs incurred, including reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.

THIRD PARTY BENEFICIARIES. This Agreement is solely for the benefit of the parties hereto and no right or cause of action shall accrue upon or by reason of, to or for the benefit of any third party not a formal party to this Agreement other than to successor and assigns of the parties as provided herein. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the Parties any right, remedy, or claim under or by reason of this Agreement or any of the provisions or conditions of this Agreement; all of the provisions, representations, covenants, and conditions contained in this Agreement shall inure to the sole benefit of and shall be binding upon the parties and their respective representatives, successors, and assigns. In the event the Developer sells or otherwise disposes of its business or of all or substantially all of its assets relating to improvements, work product, or lands within the District, the Developer shall continue to be bound by the terms of this Agreement and additionally shall expressly require that the purchaser agree to be bound by the terms of this Agreement.

APPLICABLE LA w AND VENUE. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida. Each party consents that the venue for any litigation arising out of or related to this Agreement shall be in Orange County, Florida.

EFFECTIVE DATE. This Agreement shall be effective after execution by all of the parties
hereto.

PUBLIC RECORDS. The parties understand and agree that all documents of any kind provided to the District may be public records and treated as such in accordance with Florida law.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of the remaining portions of this Agreement, or any part of this Agreement not held to be invalid or unenforceable.

LIMITATIONS ON GOVERNMENTAL LIABILITY. Nothing in this Agreement shall be deemed as a waiver of immunity or limit of liability of the District beyond any statutory limited waiver of immunity or limits ofliability which may have been adopted by the Florida Legislature in Section 768.28, Florida Statutes, or other statute, and nothing in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred under the Doctrine of Sovereign Immunity or by operation of law.

HEADINGS FOR CONVENIENCE ONLY. The descriptive headings in this Agreement are for convenience only and shall not control nor affect the meaning or construction of any of the provisions of this Agreement.

COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall be an original; however, all such counterparts together shall constitute but one and the same instrument. Signature pages and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document physically to form one document.

[SIGNATUTES FOLLOW ON NEXT PAGE]

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed affective as of the day and year first above written.

ATTEST:	DISTRICT:

DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT,
a Florida community development district

By:	4-	
/ esBell
Chairman, Board of Supervisors

WITNESSES:

Signed, sealed and delivered in the presence of:

DEVELOPER:

BEACH	NE SOUTH RESIDENTIAL, LLC, a
Florida li1 ·ted liability company

By:. 

..:..+F	­

Print: JonaH an Droor
Title: Assist nt Vice President

Exhibit "A"	 Fiscal Year 2022-2023 General Fund Budget Exhibit "B"	Developer Property Description

Exhibit A

Dowden West
Community Development District

Adopted Budget
FY2023

rfable of Contents

1-2		General Fund 

		General Fund Narrative 

		Series 2018 Debt Service Fund 

		Series 2018 Amortization Schedule 

Adopted lludgct
Desmpt1on	F\'2022	Ac1uals Thrn
5/?.1/22	Pro1ectcd NPxt
4 Months	P101cctcd Thru
9/30/22	Adopted Budget
FY2023	
	
B.=w:s.								
	Assessments• Tax Roll	$	134,546	$	152,587	$	2,762	$	155,350	$	451,014		
	Assessments - Direct	$	96,631	$	119,994	$	$	119,994	$	154,442		
	Developer Contributions	$	273,919	$	$	109,670	$	109,670	$		
	Total Revenues	s	505,096	$	272,581	$	112,432	$	385,013	$	605,457		
	Exneuditnres								
	Geueml & Administz:affve
Supervisor Fees	
$	

4,800	
$	200	

$	800	

$	1,000	
$	4,800		
	FICA Expense	$	367	$	15	$	61	$	77	$	367		
	Engineering	$	12,000	$	6,140	$	4,000	$	10,140	12,000		
	Attorney	$	25,000	$	S,371	$	8,333	$	13,704	25,000		
	Arbitrage	$	900	$	450	$	$	4S0	900		
	Dissemination Fees	$	7,000	$	2,333	$	1,167	$	3,500	7,000		
	Annual Audit	$	5,000	$	$	3,490	$	3,490	5,000		
	Trustee Fees	$	7,000	$	4,041	$	$	4,041	7,000		
	Assessment Administration	$	5,000	$	S,000	$	$	S,000	5,000		
	Management Fees	$	36,050	$	24,033	$	12,017	$	36,050	37,853		
	Information Technology	$	900	$	600	$	300	$	900	1,125		
	Website Maintenance	$	600	$	2,150	$	200	$	2,350	750		
	Telephone	$	300	$	$	100	$	100	300		
	Postage	$	1,000	$	74	$	100	$	174	1,000		
	Printing & Binding	$	1,000	$	67	$	125	$	192	1,000		
	Insurance	$	5,919	$	5,570		$	S,S70	$	6,684		
	Legal Advertising	$	5,000	$	1,056	3,500	$	4,556	$	5,000		
	Other Current Charges	$	2,000	$	324	180	$	504	$	2,000		
	Office Supplies	$	500	$	2	167	$	168	$	S00		
	Property Appraiser	$	2S0	$	79		$	79	$	250		
	Dues, Licenses & Subscriptions	$	175	$	175	58	$	233	$	175		
	Total General &Administrative:	$	120,761	$	57,679	$	34,598	$	92,277	$	123,704		

Adopted Budget
Descript10n	F\'2022	Actuals Thru
5/31/22	P1ojccted Next
4 Months	ProJected Timi
9/30/22	Adopted Budget
F\'2023	

ai2 wuaa£ &:  Maiu aaa
Contract Services									
Field Management	$	15,000	$	10,000	$	5,000	$	15,000	15,750	
Landscape Maintenance	$	247,835	$	116,010	$	58,005	$	174,014	$	283,944	
Lake Maintenance	$	8,000	$	4,800	$	2,400	$	7,200	$	12,900	
Mitigation Monitoring	$	10,000	$	$		$		10,000	
Repairs &Maintenance									
General Repairs & Maintenance	$	2,000	$	$		$		$	2,500	
Operating Supplies	$	500	$	$		$		$	500	
Landscape Replacement	$	5,000	$	205	$	1,667	$	1,872	$	5,000	
Irrigation Repairs	$	3,000	$	2,890	$	1,000	$	3,890	$	3,000	
Alleyway & Sidewalk Maintenance	$	2,500	$	$	833	$	833	$	5,000	
Signage	$	3,500	$	325	$	1,167	$	1,492	$	3,500	
Utilities									
Electric	$	2,000	$	244	$	240	$	484	$	2,000	
Water & Sewer	$	14,000	$	10,616	$	8,000	$	18,616	$	20,000	
Streetlights	$	63,000	$	34,641	$	25,373	$	60,014	$	107,475	
Other									
Contingency	$	5,000	$	739	$	4,261	$	5,000	$	5,000	
Property Insurance	$	3,000	$	4,320	$		$	4,320	$	5,184	
Total Oj!erations & Maintenance:	$	384,335	$	184,790	$	107,946	$	292,736	$	481,753	
									
Total E:!!j!endltures	$	505,096	$	242,469	$	142,543	$	385,013	$	605,457	
									
l!!!; H Revenu £fEmend.lturei]	s		$	3.0.lil	i	rao,Hil	s:		$	

FY2023 Assessments- O&M		

T	
e	
Units	
ERU Unit	
ERU's	Gross Per Unit Assessment	Net Per Unit Assessment	Total Gross Assessments	TotalNet Assessments		
Townhome	259	0.5	129.5	$498.24	$468.34	$129,043.46	$121,300.85		
Single Family- 40'	201	0.8	160.8	$797.18	$749.35	$160,233.11	$150,619.13		
Single Family- 50'	118	1	118	$996.47	$936.69	$117,584.00	$110,528.96		
Single Family- 60'	61	1.2	73.2	$1,195.77	$1,124.02	$72,941.94	$68,565.42		
Un tatted	807	0.20	164.88	$203.59	$191.38	$164,300.49	$154,442.46		
Total	1446		646.38			$644103.00	$605 456.82		

FY2022 - 2023 Comparison

FY2022 Gross FY2023 Gross
T  e	PerUnit	Per Unit	$Increase	
Townhome	$315.13	$498.24	$183.11	
Single Family - 40'	$504.22	$797.18	$292.96	
Single Family - 50'	$630.27	$996.47	$366.20	
Single Family - 60'	$756.32	$1,195.77	$439.45	

REVENUES:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the fiscal year.

Developer Contributions

The District will enter into a Funding Agreement with the Developer to fund the operating expenditures not covered by assessments for the Fiscal Year

EXPENDITURES:
Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

FICA Expense

Represents the Employer's share of Social Security and Medicare taxes withheld from Board of Supervisors checks.

Engineering

The District's engineer will be providing general engineering services to the District,
e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Arbitra'1e

The District will contract with an independent certified public accountant to annually calculate the District's Arbitrage Rebate Liability on its Series 2018 bonds in addition to a second bond issuance.

Dissemination
The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(S) which relates to additional reporting requirements for unrated bond issues.

Annual Audit
The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Trustee Fees

The District will incur trustee related costs with the Series 2018 bonds in addition to a second bond issuance.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Management Fees

The District has contracted with Governmental Management Services to provide Management, Accounting and Recording Secretary Services for the District. The services include, but not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reporting, annual audits, etc.

Information Technology

Represents costs with Governmental Management Services - Central Florida LLC related to the District's information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

Website Maintenance

Represents the costs with Governmental Management Services - Central Florida LLC associated with monitoring and maintaining the District's website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Telephone

Telephone and fax machine.

Postage

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District's general liability, public official's liability insurance and property insurance coverages.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

Other Current Charges

Bank charges and any other miscellaneous expenditures incurred during the year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Property Appraiser

Represents the fees to be paid to the Orange County Property Appraiser for annual assessment roll administration.

Dues. Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expenditure under this category for the District.

Operations & Maintenance;

Contract Services:

Field Manaaement

Represents the costs of onsite field management with Governmental Management Services - Central Florida LLC of contracts for the District such as landscape and lake maintenance. Services to include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

.,,
!

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed. Phase 1 & 4 maintenance includes costs of the East West Collector Road Phase 1 estimated services.

Descriotion	Annual Amount	
Landscape Maintenance Phase 1 & 4	$	210,624	
Landscape Maintenance Phase 2 & 3	 $	 73,320		
	$	283,944	

Lake Maintenance		

Represents estimated costs for maintenance to all lakes the District must maintain within District boundaries.

Description	Annual Amount	
Lake Maintenance Phase 1 & 4 Lake Maintenance Phase 2 Contingency	$	7,200
$	4,200
$	1,500	
	$	12,900	

Mitigation Monitoring

The District will incur costs for scheduled monitoring of mitigation areas located throughout the District. The amounts are estimated.

Repairs & Maintenance:

General Repairs & Maintenance

Represents estimated costs for the general repairs and maintenance of various facilities throughout the District.

Overating Suvvlies

Represents estimated costs of supplies purchased for operating and maintaining common areas.

Landscape Replacement

Represents estimated costs related to the replacement of any landscaping needed throughout the fiscal year.

Irrigation Repairs

The District will incur costs related to repairing and maintaining its irrigation systems. The amount is based on estimated costs.

Alleyway Maintenance

Represents estimated costs for the maintenance of alleyways located within the District.

Signage

Represents estimated costs to replace miscellaneous signs throughout the fiscal year.

Utilities:

Electric

Represents estimated electric charges of common areas throughout the District.

Water & Sewer
Represents estimated costs for water and refuse services provided for common areas throughout the District.

Streetlights

Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Description	Annual Amount	
Streetlights Dowden Rd Phase 1 & 4	$	54,000	
Streetlights Phase 2	$	24,150	
Streetlights Phase 3		
	$	107,475	

Other:

Contingency

Represents funds allocated to expenditures that the District could incur throughout the fiscal year that do not fit into any standard category.

Propertv Insurance

The District will incur fees to insure items owned by the District for its property needs. Coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage for government agencies.

Dcscripbon

Adopted Budget
Debt Service Fund Series 2018

Adopted	i\ctuals	l'roj,·,t,•d	P101cctcd	Adopted	
Budget	Thru	NPxt	Tin 11	Rudr,rt	
FY2022	5/31/22	4 Months	'1/10/22	FYZOZJ	

Assessments	$	419,890	$	415,507	$	4,382	$	419,890	$	419,890	
Interest	$	$	7	$	$	7	$	
Cany Fmward Surplus	$	168,427	$	169,770	$	$	169,770	$	167,729	
Total Revenues	$	S88,317	$	S8S,284	$	4,382	$	S89,667	$	S87,619	

Exuenditnres						
Genecal & Administrative·						
lnterest-11/1	$	160,969	$	160,969	
$	$	160,969	$	158,794	
Principal - 5/1	$	100,000	$	100,000	$	$	100,000	$	100,000	
Interest- 5/1	$	160,969	$	160,969	$	$	160,969	$	158,794	
Total E nditures	$	421,938	$	421,938	$		$	421,938	$	417,588	
l esaReven!!!:i1ilE!m!llturmi	
i	l§!i, 22	
$	
16 ,3F	
i	.	
$	1§7.729	
$	17!,!,gj	
lnterest-11/1/23	$	1S6i!j19	
Total	$	156,619	
 FY202 3 Assessments - On Roll Debt Service		
		Gross Per Unit	NetPerUnit	Total Gross	Total Net		
	Units	Assessment	Assessment	Assessments	Assessments		
Townhome	208	$500.00	$470.00	$104,000.00	$97,760.00		
Single Family - 40'	201	$800.00	$752.00	$160,800.00	$151,152.00		
Single Family· 50'	118	$1,000.00	$940.00	$118,000.00	$110,920.00		
Sin eFamil -60'	54	$1.200.00	$1,128.00	64800.00	$60 912.00		
Total	581			$447 600.00	$420 744.00		

Series 2018 Special Assessment Bonds Amortization Schedule

U/01/22
05 0
11/01/23	f
$	

5,785,000.00	s
$	

$	156,618.75	•	158,793.75

415,412.50	
05/01/24	$	5,785,000.00	$	105,000.00	$	156,618.75	$		
11/01/24	$	5,680,000.00	$	$	154,072.50	$	415,691.25	
05/01/25	$	5,680,000.00	$	110,000.00	$	154,072.50	$		
11/01/25	$	5,570,000.00	$	$	151,405.00	$	415,477.50	
05/01/26	$	5,570,000.00	$	115,000.00	$	151,405.00	$		
11/01/26	$	5,455,000.00	$	$	148,616.25	$	415,021.25	
05/01/27	$	5,455,000.00	$	125,000.00	$	148,616.25	$		
11/01/27	$	5,330,000.00	$	$	145,585.00	$	419,201.25	
05/01/28	$	5,330,000.00	$	130,000.00	$	145,585.00	$		
11/01/28	$	5,200,000.00	$	$	142,432.50	$	418,017.50	
05/01/29	$	5,200,000.00	$	135,000.00	$	142,432.50	$		
11/01/29	$	5,065,000.00	$	$	139,158.75	$	416,591.25	
05/01/30	$	5,065,000.00	$	145,000.00	$	139,158.75	$		
11/01/30	$	4,920,000.00	$	$	135,243.75	$	419,402.50	
05/01/31	$	4,920,000.00	$	150,000.00	$	135,243.75	$		
11/01/31	$	4,770,000.00	$	$	131,193.75	$	416,437.50	
05/01/32	$	4,770,000.00	$	160,000.00	$	131,193.75	$		
11/01/32	$	4,610,000.00	$	$	126,873.75	$	418,067.50	
05/01/33	$	4,610,000.00	$	170,000.00	$	126,873.75	$		
11/01/33	$	4,440,000.00	$	$	122,283.75	$	419,157.50	
05/01/34	$	4,440,000.00	$	180,000.00	$	122,283.75	$		
11/01/34	$	4,260,000.00	$	$	117,423.75	$	419,707.50	
05/01/35	$	4,260,000.00	$	190,000.00	$	117,423.75	$		
11/01/35	$	4,070,000.00	$	$	112,293.75	$	419,717.50	
05/01/36	$	4,070,000.00	$	200,000.00	$	112,293.75	$		
11/01/36	$	3,870,000.00	$	$	106,893.75	$	419,187.50	
05/01/37	$	3,870,000.00	$	210,000.00	$	106,893.75	$		
11/01/37	$	3,660,000.00	$	$	101,223.75	$	418,117.50	
05/01/38	$	3,660,000.00	$	220,000.00	$	101,223.75	$		
11/01/38	$	3,440,000.00	$	$	95,283.75	$	416,507.50	
05/01/39	$	3,440,000.00	$	235,000.00	$	95,283.75	$		
11/01/39	$	3,205,000.00	$	$	88,938.75	$	419,222.50	
05/01/40	$	3,205,000.00	$	245,000.00	$	88,938.75	$		
11/01/40	$	2,960,000.00	$	$	82,140.00	$	416,078.75	
05/01/41	$	2,960,000.00	$	260,000.00	$	82,140.00	$		
11/01/41	$	2,700,000.00	$	$	74,925.00	$	417,065.00	
05/01/42	$	2,700,000.00	$	275,000.00	$	74,925.00	$		
11/01/42	$	2,425,000.00	$	$	67,293.75	$	417,218.75	
05/01/43	$	2,425,000.00	$	290,000.00	$	67,293.75	$		
11/01/43	$	2,135,000.00	$	$	59,246.25	$	416,540.00	
05/01/44	$	2,135,000.00	$	310,000.00	$	59,246.25	$		
11/01/44	$	1,825,000.00	$	$	50,643.75	$	419,890.00	
05/01/45	$	1,825,000.00	$	325,000.00	$	50,643.75	$		
11/01/45	$	1,500,000.00	$	$	41,625.00	$	417,268.75	
05/01/46	$	1,500,000.00	$	345,000.00	$	41,625.00	$		
11/01/46	$	1,155,000.00	$	$	32;051.25	$	418,676.25	
05/01/47	$	1,155,000.00	$	365,000.00	$	32,051.25	$		
11/01/47	$	790,000.00	$	$	21,922.50	$	418,973.75	
05/01/48	$	790,000.00	$	385,000.00	$	21,922.50	$		
11/01/48	$	405,000.00	$	$	11,238.75	$	418,161.25	
05/01/49	$	405,000.00	$	405,000.00	$	11,238.75	$		
					$	416,238.75	

Date	Balance	Prmcipal	Interest	Total

$
s

	$	5,885,000.00  $	5,550,842.50  $	11,435,842.50

Exhibit B

:Legf!l Description
[Metes and bound.s descnption to b attached be?lb.WJ
TJie Property is the i.and described elQW Jess·that portion-which ts depili:ted -as-cross-hatched on
Sclledule A attached to:this Exhibit "A''

Tf-!AT PQRTION OF SECTION 32, LViN NORTH QF A L1NE El{T'ENQED. SfiTW!EE.N THii !:A$.ri'£RLY 1/i CORNER AND THE NORT Wi:$1" tQRNER; THAT .PORTION OF.SECT-ION 33, LYiNG NORtt:l ,Pf. A LINE'-exrENDl:O 8!:TWEEN THE SOUTI-IEASTCORNER AND THE WEST 1/4CORNER-AN& LYING SOUTH OF STATE= AD.528,rnEEUNE
EXPRESsWA'{.); AND Al\.OF SECTION.S 34 AND 35; ALL LYlNttIN TOWNS.tUP ia:SOUTI-11 RAN.GE 31EAST,
;	'7 :l/i RJI r:i1D	: A:1 ; :	ftfto It
COMPE[,JSAlIOI'!- AND mLE  RECORDED JULY is; 19g1IN OFF.IQAL:Rl:CO DS. BObK·1 1. PAGE 2300, PUBLlC
RECORDS OF ORANGE COUfiflY, R..OIUDA.	•	•

ALSO·LESS ANO EXCEPT: THAT PORTION COl'/VEY D CGNVEYTO ORLA.NDOiORAfl!GECOUNTY EXPRESSW,6.Y
AUT-HQRITY PURSUANT TO THAT WARRAf'!TY'OEEO·REeO ED MAY JQ,.1'ii6 IN omqAL REtoll,DS'BDOK 1544, PAGE 611, PUBUC RECOR.OS OF ORANGE COUNTY, FLORIDA.
ALSO LESS AND EXCEPT: THAT PORTION· CONV.EYEO W CENTRAL .FLORIDA EXPR .SWAY AUTHO,mY PURSUANT
TO THAT SPECIAl. WARIV,NTY DEEO R r;bRDE,\) oq'QB Jt 22, 201,HN·'OfFIQ/I\. RE(;QRDS :eoQK :i1002, PAGE
36.8; PUBUC RECORDS OF ORANGE COUNlY; FL:OIUDA.	•	... • •	• •	•

AND:
0ALLOF SE.CTION 2, TbWNSHl.P 24 SOUTH, Rl\ GE 31 :
L SS AND . CE!Yr.: THE'SOUTHEAST "/4 OF T}1E.!ilORTHEAST V1 dF.Tl:il;$.Oi.ITHEAsT ¼:
ALSO u$s AND EXCEPT: THAT.PART OF $ECTION 2, TO'WNSti{P 24 QlJTH,· AANGE·· i FAST, oMNG.E UNTY, FLORlDA, DESGRiBEO l',,S:FQLL0WS:
COMM CE AT THE NORTHW!:ST (,'.-ORNER Of T:-He: SO!JJJiWEST l/4 OF SECTlP.N 2, TOW.N$l-lIP·2c\ SOUTH, RANGE 31l:Asr; ANO RUN 501<? 0'57"EALONG THE, WEST L1NE QF.S,lqD ·soQrfM11;ST !/4ADISFANCE,QF .04'FEfl:" TO THE POINT OF BEGINNJN$; ntEN E S63° 1'$o e; ?i.1;1S·F.E ( iHEi\{C/;-!'(81"1 •24t•e,.,s1 §2 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE WESTERL.Y HAVING A Rf,\OIUS OF 1 $0·,oo·FeET·ANll A CHORD BEARING OF'
S00"23'08"E; THENCE SO\:irHERt.Y At.ONG THE ARC Q.F l>·CQR.YE-tH.RQUGH A CJ!N -ANG,te'.oF·30° 2'14"
FOR A DISTANCI= OF 1039,30 FEET TO TH6 P.OlNT .OF T.6,NGE,NCY; T.Hi:;NCE'$ 14°52'S '.'W, 28!),55 F.EET TO THE
POINT OF CURVATURE OF A·CURVE CONCAVE EASJERLY-HAVING A 'RAClIUS Of·:t16MO FEET A\ll!) A CHORD
B ARING OF Sl1"l6.'Q9'.'Wi THENCE SOUTtf Y·ALO G,THE.i\&C O.F SAW-CUR\IE THROUGH A. CENTRAL ANGLE OF D.GqS '39" f:OR A DISTAN pF 269,J32 !IT TO A,POUfT .Q A NON·TA!'!GE T Ll\11\i:; TH NCE 90"P0'.9D"W, 107.88·FEET; THl;f,!CE NOq0401 '1"W, 43:()!l FEE'I} Tt1ENCE'NJ •2i·ss"w, 42;$0..FEET: THENCE N20°31 52'W, 25.51 FEET; Tf-!ENCE N38"13'26"W, 40,92 FEET;.THENC ij,W52'28.''W,_ 3f.67 FEEl}THEi:,ICE N22 .5 '17"W1 78i38 FEET;
THENCE N'l4"25'17"W, 30.80 FEET; THENCE i7 l!l!52."W; 3.7.,86"-FEf:T; Tl-tfNCE N90°0Q1QP11W, 444.SQ FEET TO
THE WEST UNE Of SAID SOl,ITHWEST 1/4 Of S.l:CT!QN·i; THENCE N01°30'.S7"WA.LONG SA{P:WE$T UNE A DISTANCE OF 1323.'10 FEET T.O THE-POINT OF BEGINNING;
AND:

THAT PORTION OF SECTION 3, LYlNG NORTH OFALlNE EXTENDED.BETWEEN THE EASTERLY 1/4 CORNER AND THE NORTHWEST CORNER, ALL BEING IN TOWNSHIP 24 SOl/TH, RANG.E 31 EAST.

-8-

SECTION VI

RESOLUTION 2023-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL.YEAR 2023/2024 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW; ADDRESSING TRANSMITTAL, POSTING AND PUBLICATION REQUIREMENTS; ADDRESSING SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has heretofore prepared and submitted to the Board of Supervisors ("Board") of the Dowden West Community Development District ("District") prior to June 15, 2023, a proposed budget ("Proposed Budget") for the fiscal year beginning October 1, 2023 and ending September 30, 2024 ("Fiscal Year 2023/2024"); and

WHEREAS, the Board has considered the Proposed Budget and desires to set the required public hearing thereon.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT:

PROPOSED BUDGET APPROVED. The Proposed Budget prepared by·the District Manager for Fiscal Year 2023/2024 attached hereto as Exhibit A is hereby approved as the basis for conducting a public hearing to adopt said Proposed Budget.

SETTING A PUBLIC HEARING. A public hearing on said approved Proposed Budget is hereby declared and set for the following date, hour and location:

DATE: HOUR: LOCATION:

July 20, 2023

9:00 a.m.

Offices of OMS-CF, LLC 219 E. Livingston Street Orlando, FL 32801

TRANSMITTAL	OF  PROPOSED  BUDGET  TO  LOCAL  GENERAL
PURPOSE GOVERNMENT. The District Manager is hereby directed to submit a copy of the Proposed Budget to Orange County and City of Orlando at least 60 days prior to the hearing set above.

POSTING OF PROPOSED BUDGET. In accordance with Section 189.016, Florida Statutes, the District's Secretary is further directed to post the approved Proposed Budget on the District's website at least two days before the budget hearing date as set forth in Section 2, and shall remain on the website for at least 45 days.

PUBLICATION OF NOTICE. Notice of this public hearing shall be published in the manner prescribed in Florida law.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 20th DAY OF APRIL, 2023.

ATTEST:	DOWDEN	WEST	COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary

By:		_ Its:.	_

Dowden West
Community Development District

Proposed Budget
FY2024

6M3

Table of Contents

1-2

3-8

9

10

General Fund

General Fund Narrative

Series 2018 Debt Service Fund

Series 2018 Amortization Schedule

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	2/28/23	7 Months	9/30/23	FY2024	

Revenues						
Assessments	$	605,457	$	538,224	$	67,233	$	605,457	$	1,419,921	
Developer Contributions	$	-	$	-	$	49,839	$	49,839	$	-	
Total Revenues	$	605,457	$	538,224	$	117,072	$	655,296	$	1,419,921	

Expenditures						
General & Administrative						
Supervisor Fees	$	4,800	$	200	$	1,400	$	1,600	$	4,800	
FICA Expense	$	367	$	15	$	107	$	122	$	367	
Engineering	$	12,000	$	5,305	$	8,400	$	13,705	$	15,000	
Attorney	$	25,000	$	9,131	$	13,300	$	22,431	$	25,000	
Arbitrage	$	900	$	450	$	-	$	450	$	900	
Dissemination Fees	$	7,000	$	1,458	$	2,042	$	3,500	$	7,000	
Annual Audit	$	5,000	$	-	$	3,490	$	3,490	$	5,000	
Trustee Fees	$	7,000	$	4,041	$	-	$	4,041	$	8,000	
Assessment Administration	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Management Fees	$	37,853	$	15,772	$	22,081	$	37,853	$	40,124	
Information Technology	$	1,125	$	469	$	656	$	1,125	$	1,200	
Website Maintenance	$	750	$	313	$	438	$	750	$	800	
Telephone	$	300	$	-	$	-	$	-	$	300	
Postage	$	1,000	$	43	$	175	$	218	$	1,000	
Copies	$	1,000	$	39	$	175	$	214	$	1,000	
Insurance	$	6,684	$	5,988	$	-	$	5,988	$	6,886	
Legal Advertising	$	5,000	$	-	$	5,000	$	5,000	$	5,000	
Other Current Charges	$	2,000	$	193	$	280	$	473	$	2,000	
Office Supplies	$	500	$	1	$	7	$	8	$	500	
Property Appraiser	$	250	$	-	$	250	$	250	$	250	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative:	$	123,704	$	48,593	$	57,800	$	106,393	$	130,302	

Adopted Budget
Description	FY2023	Actuals Thru
2/28/23	Projected Next
7 Months	Projected Thru
9/30/23	Proposed Budget
FY2024	

Operations & Maintenance						
Contract Services						
Field Management	$	15,750	$	6,563	$	9,188	$	15,750	$	16,695	
Landscape Maintenance	$	283,944	$	85,449	$	156,484	$	241,933	$	840,480	
Lake Maintenance	$	12,900	$	3,350	$	7,400	$	10,750	$	44,700	
Mitigation Monitoring	$	10,000	$	-	$	5,000	$	5,000	$	10,000	
Repairs & Maintenance						
General Repairs & Maintenance	$	2,500	$	882	$	1,458	$	2,340	$	2,500	
Operating Supplies	$	500	$	-	$	250	$	250	$	500	
Landscape Replacement	$	5,000	$	-	$	84,280	$	84,280	$	10,000	
Irrigation Repairs	$	3,000	$	439	$	2,000	$	2,439	$	3,000	
Alleyway & Sidewalk Maintenance	$	5,000	$	-	$	2,500	$	2,500	$	5,000	
Signage	$	3,500	$	-	$	1,750	$	1,750	$	3,500	
Utilities						
Electric	$	2,000	$	419	$	1,050	$	1,469	$	4,000	
Water & Sewer	$	20,000	$	13,237	$	32,034	$	45,271	$	85,000	
Streetlights	$	107,475	$	22,489	$	77,848	$	100,337	$	224,244	
Other						
Contingency	$	5,000	$	-	$	30,080	$	30,080	$	25,000	
Property Insurance	$	5,184	$	4,752	$	-	$	4,752	$	15,000	
Total Operations & Maintenance:	$	481,753	$	137,581	$	411,322	$	548,903	$	1,289,619	
											
Total Expenditures	$	605,457	$	186,173	$	469,122	$	655,296	$	1,419,921	
											
Excess Revenues/(Expenditures)	$	-	$	352,051	$	(352,051)	$	-	$	-	

Gross Assessments $	1,510,554
(Less: Discounts & Collections)  $	(90,633) 
Net Assessments $	1,419,921

Assessments - O&M		

Type	
Units	
ERU/Unit	
ERU's	Gross Per Unit Assessment	Net Per Unit Assessment	Total Gross Assessments	Total Net Assessments	
Townhome	259	0.5	129.5	$1,359.50	$1,277.93	$352,109.89	$330,983.29	
Single Family - 40'	201	0.8	160.8	$2,175.20	$2,044.68	$437,214.44	$410,981.57	
Single Family - 50'	118	1	118	$2,719.00	$2,555.86	$320,841.44	$301,590.95	
Single Family - 60'	61	1.2	73.2	$3,262.79	$3,067.03	$199,030.45	$187,088.63	
Unplatted	807	0.09	74.06	$249.51	$234.54	$201,358.18	$189,276.69	
Total	1446		555.56			$1,510,554.39	$1,419,921.13	

FY2023 - 2024 Comparison

Type	FY2023 Gross Per Unit	FY2024 Gross Per Unit	
$ Increase	
Townhome	$498.24	$1,359.50	$861.26	
Single Family - 40'	$797.18	$2,175.20	$1,378.02	
Single Family - 50'	$996.47	$2,719.00	$1,722.53	
Single Family - 60'	$1,195.77	$3,262.79	$2,067.02	
Unplatted	$203.59	$249.51	$45.92	

REVENUES:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the fiscal year.

Developer Contributions

The District will enter into a Funding Agreement with the Developer to fund the operating expenditures not covered by assessments for the Fiscal Year

EXPENDITURES:

Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from Board of Supervisors checks.

Engineering

The District's engineer will be providing general engineering services to the District,
e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its Series 2018 bonds in addition to a second bond issuance.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This service is contracted with Governmental Management Services-Central Florida, LLC.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. This service is contracted with Berger, Toombs, Elam, Gaines & Frank.

Trustee Fees

The District will incur trustee related costs with the Series 2018 bonds in addition to a second bond issuance with US Bank.

Assessment Administration

The District has contracted with Governmental Management Services-Central Florida, LLC to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Management Fees

The District has contracted with Governmental Management Services to provide Management, Accounting and Recording Secretary Services for the District. The services include, but not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reporting, annual audits, etc.

Information Technology

Represents various cost of information technology with Governmental Management Services-Central Florida, LLC for the District such as video conferencing, cloud storage and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc.

Website Maintenance

Represents the costs with Governmental Management Services – Central Florida LLC associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Telephone

Telephone and fax machine.

Postage

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Copies

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Insurance

The District’s general liability, public official’s liability insurance and property insurance coverages with Florida Insurance Alliance.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

Other Current Charges

Bank charges and any other miscellaneous expenditures incurred during the year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Property Appraiser

Represents the fees to be paid to the Orange County Property Appraiser for annual assessment roll administration.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expenditure under this category for the District.

Operations & Maintenance:

Contract Services:

Field Management

Represents the costs of onsite field management with Governmental Management Services – Central Florida LLC of contracts for the District such as landscape and lake maintenance. Services to include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Description	Monthly Amount	Annual Amount	
Current Landscape Maintenance	$	20,612	$	247,344	
East West Road Ph1 Maintenance	$	3,050	$	36,600	
East West Road Ph2 Maintenance	$	7,090	$	85,080	
Dowden Road Segment 4 Maintenance	$	10,550	$	126,600	
Dowden Road Segment 5 Maintenance	$	10,610	$	127,320	
N4 Maintenance	$	2,930	$	35,160	
N5 Maintenance	$	3,068	$	36,816	
North South Road Maintenance	$	12,130	 $	145,560		
		$	840,480	

Lake Maintenance

Represents estimated costs for maintenance to all lakes the District must maintain within District boundaries.

Description	Monthly Amount	Annual Amount	
Lake Maintenance Phase 1 & 4	$	600	$	7,200	
Lake Maintenance Phase 2	$	350	$	4,200	
Dowden Road 4 Maintenance	$	600	$	7,200	
Dowden Road 5 Maintenance	$	350	$	4,200	
East West Road Ph1 Maintenance	$	150	$	1,800	
East West Road Ph2 Maintenance	$	650	$	7,800	
Meridian Parks N4 Maintenance	$	100	$	1,200	
Meridian Parks N5 Maintenance	$	200	$	2,400	
North South Road Ph1 Maintenance	$	500	$	6,000	
North South Road Ph2 Maintenance	$	225	 $	2,700		
		$	44,700	

Mitigation Monitoring

The District will incur costs for scheduled monitoring of mitigation areas located throughout the District. The amounts are estimated.

Repairs & Maintenance:

General Repairs & Maintenance

Represents estimated costs for the general repairs and maintenance of various facilities throughout the District.

Operating Supplies

Represents estimated costs of supplies purchased for operating and maintaining common areas.

Landscape Replacement

Represents estimated costs related to the replacement of any landscaping needed throughout the fiscal year.

Irrigation Repairs

The District will incur costs related to repairing and maintaining its irrigation systems. The amount is based on estimated costs.

Alleyway Maintenance

Represents estimated costs for the maintenance of alleyways located within the District.

Signage

Represents estimated costs to replace miscellaneous signs throughout the fiscal year.

Utilities:

Electric

Represents estimated electric charges of common areas throughout the District.

Water & Sewer

Represents estimated costs for water and refuse services provided for common areas throughout the District.

Streetlights

Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Description	Annual Amount	
Current Streetlights	$	94,500	
East West Road Ph1 Streetlights	$	6,528	
East West Road Ph2 Streetlights	$	10,200	
Dowden Road Segment 4 Streetlights	$	29,376	
Dowden Road Segment 5 Streetlights	$	24,480	
N4 Streetlights	$	26,520	
N5 Streetlights	$	12,240	
North South Road Streetlights	 $	20,400		
	$	224,244	

Other:

Contingency

Represents funds allocated to expenditures that the District could incur throughout the fiscal year that do not fit into any standard category.

Property Insurance

The District will incur fees to insure items owned by the District for its property needs. Coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage for government agencies.

Proposed Budget
Debt Service Fund Series 2018

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	2/28/23	7 Months	9/30/23	FY2024	

Revenues							
Assessments		$	419,890	$	394,045	$	25,845	$	419,890	$	419,890	
Interest		$	-	$	2,386	$	1,646	$	4,032	$	-	
Carry Forward Surplus		$	167,729	$	172,532	$	-	$	172,532	$	178,866	
Total Revenues		$	587,619	$	568,963	$	27,491	$	596,454	$	598,756	

Expenditures							
Interest - 11/1		$	158,794	$	158,794	$	-	$	158,794	$	156,619	
Principal - 5/1		$	100,000	$	-	$	100,000	$	100,000	$	105,000	
Interest - 5/1		$	158,794	$	-	$	158,794	$	158,794	$	156,619	
Total Expenditures		$	417,588	$	158,794	$	258,794	$	417,588	$	418,238	
							
Excess Revenues/(Expenditures)		$	170,032	$	410,169	$	(231,302)	$	178,866	$	180,519	
					
Interest - 11/1/24	
 $	154,073 	
					Total	 $	154,073 	
Assessments - Debt Service							

Type	Units	Gross Per Unit Assessment	Net Per Unit Assessment	Total Gross Assessments	Total Net Assessments			
Townhome	208	$500.00	$470.00	$104,000	$97,760			
Single Family - 40'	201	$800.00	$752.00	$160,800	$151,152			
Single Family - 50'	118	$1,000.00	$940.00	$118,000	$110,920			
Single Family - 60'	54	$1,200.00	$1,128.00	$64,800	$60,912			
Total	581			$447,600	$420,744			

Series 2018 Special Assessment Bonds Amortization Schedule

Date	Balance	Principal	Interest	Total

11/01/23	$	5,785,000.00	$	
05/01/24	$	5,785,000.00	$	105	
11/01/24	$	5,680,000.00	$	
05/01/25	$	5,680,000.00	$	110	
11/01/25	$	5,570,000.00	$	
05/01/26	$	5,570,000.00	$	115	
11/01/26	$	5,455,000.00	$	
05/01/27	$	5,455,000.00	$	125	
11/01/27	$	5,330,000.00	$	
05/01/28	$	5,330,000.00	$	130	
11/01/28	$	5,200,000.00	$	
05/01/29	$	5,200,000.00	$	135	
11/01/29	$	5,065,000.00	$	
05/01/30	$	5,065,000.00	$	145	
11/01/30	$	4,920,000.00	$	
05/01/31	$	4,920,000.00	$	150	
11/01/31	$	4,770,000.00	$	
05/01/32	$	4,770,000.00	$	160	
11/01/32	$	4,610,000.00	$	
05/01/33	$	4,610,000.00	$	170	
11/01/33	$	4,440,000.00	$	
05/01/34	$	4,440,000.00	$	180	
11/01/34	$	4,260,000.00	$	
05/01/35	$	4,260,000.00	$	190	
11/01/35	$	4,070,000.00	$	
05/01/36	$	4,070,000.00	$	200	
11/01/36	$	3,870,000.00	$	
05/01/37	$	3,870,000.00	$	210	
11/01/37	$	3,660,000.00	$	
05/01/38	$	3,660,000.00	$	220	
11/01/38	$	3,440,000.00	$	
05/01/39	$	3,440,000.00	$	235	
11/01/39	$	3,205,000.00	$	
05/01/40	$	3,205,000.00	$	245	
11/01/40	$	2,960,000.00	$	
05/01/41	$	2,960,000.00	$	260	
11/01/41	$	2,700,000.00	$	
05/01/42	$	2,700,000.00	$	275	
11/01/42	$	2,425,000.00	$	
05/01/43	$	2,425,000.00	$	290	
11/01/43	$	2,135,000.00	$	
05/01/44	$	2,135,000.00	$	310	
11/01/44	$	1,825,000.00	$	
05/01/45	$	1,825,000.00	$	325	
11/01/45	$	1,500,000.00	$	
05/01/46	$	1,500,000.00	$	345	
11/01/46	$	1,155,000.00	$	
05/01/47	$	1,155,000.00	$	365	
11/01/47	$	790,000.00	$	
05/01/48	$	790,000.00	$	385	
11/01/48	$	405,000.00	$	
05/01/49	$	405,000.00	$	405	
			$	5,785	

$	156,618.75	$	156,618.75	
$	156,618.75	$	-	
$	154,072.50	$	415,691.25	
$	154,072.50	$	-	
$	151,405.00	$	415,477.50	
$	151,405.00	$	-	
$	148,616.25	$	415,021.25	
$	148,616.25	$	-	
$	145,585.00	$	419,201.25	
$	145,585.00	$	-	
$	142,432.50	$	418,017.50	
$	142,432.50	$	-	
$	139,158.75	$	416,591.25	
$	139,158.75	$	-	
$	135,243.75	$	419,402.50	
$	135,243.75	$	-	
$	131,193.75	$	416,437.50	
$	131,193.75	$	-	
$	126,873.75	$	418,067.50	
$	126,873.75	$	-	
$	122,283.75	$	419,157.50	
$	122,283.75	$	-	
$	117,423.75	$	419,707.50	
$	117,423.75	$	-	
$	112,293.75	$	419,717.50	
$	112,293.75	$	-	
$	106,893.75	$	419,187.50	
$	106,893.75	$	-	
$	101,223.75	$	418,117.50	
$	101,223.75	$	-	
$	95,283.75	$	416,507.50	
$	95,283.75	$	-	
$	88,938.75	$	419,222.50	
$	88,938.75	$	-	
$	82,140.00	$	416,078.75	
$	82,140.00	$	-	
$	74,925.00	$	417,065.00	
$	74,925.00	$	-	
$	67,293.75	$	417,218.75	
$	67,293.75	$	-	
$	59,246.25	$	416,540.00	
$	59,246.25	$	-	
$	50,643.75	$	419,890.00	
$	50,643.75	$	-	
$	41,625.00	$	417,268.75	
$	41,625.00	$	-	
$	32,051.25	$	418,676.25	
$	32,051.25	$	-	
$	21,922.50	$	418,973.75	
$	21,922.50	$	-	
$	11,238.75	$	418,161.25	
$	11,238.75	$	-
$	416,238.75	

-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00

,000.00  $

5,233,255.00  $

11,018,255.00

SECTION C

SECTION 1

Dowden West
Community Development District
Summary ofCheck Register
March 4, 2023 to April 7, 2023

	Bank		Date		CjleckNo.'s		Amount		
General Fund	3/8/23	277	$	950.00	
	3/16/23	278	$	4,385.31	
	3/31/23	279	$	2,603.00	
	4/6/23	280- 281	$	42,174.00	
			$	50,112.31	

I

	.	
Total Amount	i	s-01112.31

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN 4/13/23
*** CHECK DATES 03/04/2023 - 04/07/2023 ***	DOWDEN WEST - GENERAL FUND
BANK A DOWDEN WEST-GF

PAGE	1

CHECK VEND# .....INVOICE........EXPENSED TO...	VENDOR NAME DATE	DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS

STATUS

AMOUNT	....CHECK.....
AMOUNT	#

3/08/23 00018

2/28/23 15699	202302 320-53800-47000
LAKE MAINTENANCE -FEB 23

*	950.00

3/16/23 00001

3/01/23
3/01/23
3/01/23
3/01/23
3/01/23
3/01/23
3/01/23
3/01/23
3/01/23

AQUATIC WEED MANAGEMENT, INC.
105	202303 310-51300-34000
MANAGEMENT FEES - MAR 23
105	202303 310-51300-35200
WEBSITE ADMIN - MAR 23
105	202303 310-51300-35100
INFO TECHNOLOGY - MAR 23
105	202303 310-51300-31300
DISSEMINATION SVC- MAR 23
105	202303 310-51300-51000
OFFICE SUPPLIES
105	202303 310-51300-42000
POSTAGE
105	202303 310-51300-42500
COPIES
105	202303 310-51300-31300
DISSEMINATION 10/22-02/23
106	202303 320-53800-12000
FIELD MANAGEMENT - MAR 23

- - - - - - - - - - - -9-50-.0-0 000277

3,154.42

*

*	62.50
*	93.75
*	291.67
*	.39
*	44.23
*	50.85
*	625.00-
*	1,312.50

3/31/23 00002

4/06/23 00018

4/06/23 00014

GOVERNMENTAL MANAGEMENT SERVICES-
3/07/23 110103	202302 310-51300-31500

- - - - - - - - - - - - - - - - -

REVIEW/BOS MTG/AGENDA
-		-	_LATHAM, LUNA, EDEN& BEAUDINE, LLP 3/31/23 15825	202303 320-53800-47000
LAKE MAINTENANCE - MAR 23

- - - - - - - - - - - - -	- - - -

- -	AQUATIC WEED MANAGEMENT, INC.
3/15/23 ON 50283 202303 320-53800-46000 LANDSCAPE MAINT - MAR 23
4/01/23 ON 50553 202304 320-53800-46000 LANDSCAPE MAINT - APR 23

- - - - - - - - - - -4-,3-85-.3-1 000278

2,603.00

*

950.00

- - - - - - - - - - -2-,6-03-.0-0 000279
*

20,612.00

*

- - - - - - - - - - - -9-50-.0-0 000280
*	20,612.00

YELLOWSTONE LANDSCAPE

TOTAL FOR BANK A TOTAL FOR REGISTER

41,224.00 000281

50,112.31
50,112.31

DOWD DOWDEN WEST	MBYINGTON

SECTION 2

Dowden West
Community Development District

Unaudited Financial Reporting
February 28, 2023

Table of Contents

1		Balance Sheet 	

2-3	
	General Fund 	

4	
	Debt Service Fund Series 2018 	

5	
Capital Projects Fund Series 2018 	

6-7	
	Month to Month 	

8	
Long Term Debt Report	

9	
	Series 2018 Construction Schedule 	

10	
	Assessment Receipt Schedule 	

Combined Balance Sheet
February 28, 2023
General	Debt Service	Capital Project,	Totals
Fund	Fund	Fund	Governmental Funds

Assets:
.c.a.sh;.		
Operating Account
lnvesnnents-	$	597,471	$	$	$	597,471	
Series ZQJB					
Reserve	$	$	209,945	$	$	209,945	
Revenue	$	$	214,075	$	$	214,075	
Construction	$	$	$	10,337	$	10,337	
Due from General Fund	$	$	196,094	$	$	196,094	
Prepaid Expenses	$	1,635	$	$	$	1,635	
Total Assets	$	599,106	$	620,114	$	10,337	$	1229 557	

Liabilities:					
Accounts Payable	$	3,553	$	$	$	3,553	
Due to Debt Service	$	196,094	$	$	$	196,094	
1Total Liabilites	$	199,647	$	$	$	199,647	

Fund Balance:					
Nonspendable:					
Deposits and Prepaid Items	$	1,635	$	$	$	1,635	
Restricted for:					
Debt Service 2018	$	$	620,114	$	$	620,114	
Capital Projects - Series 2018	$	$	$	10,337	$	10,337	
Unassigned	$	397,824	$	$	$	397,824	
',Total Fund Balances	$	399,459	$	620,114	$	10,337	$	1,029,910	

Total Liabilities & Fund Balance	
$	599,106	
$	620,111	
$	10,337	
$	1,229,557	

i

_	_	_	_	_	_	Adopted	Prorate_d Budget	Actual
--	--		 ---=..J.	-	_I	.. ._'... ·.._-  -  -  '..:.,. •M -,'••I'	·-; ..  _;"°,:_ ,•-...... _,-J--::. :.

Revenues·		
Assessments - Tax Roll	$	451,014	$	422,395	$	422,395	$		
Assessments - Direct	$	154,442	$	115,829	$	115,829	$		
Total Revenues	$	605,457	$	538,224	$	538,224	$		
E;,,.peuditures·						
Geneml & Administrnttve·						
Supervisor Fees	$	4,800	$	2,000	$	200	$	1,800		
FICA Expense	$	367	$	153	$	15	$	138		
Engineering	$	12,000	$	5,000	$	5,305	$	(305)		
Attorney	$	25,000	$	10,417	$	9,131	$	1,286		
Arbitrage	$	900	$	450	$	450	$		
Dissemination Fees	$	7,000	$	2,917	$	1,458	$	1,458		
Annual Audit	$	5,000	$	$	$		
Trustee Fees	$	7,000	$	4,041	$	4,041	$		
Assessment Administration	$	5,000	$	5,000	$	5,000	$		
Management Fees	$	37,853	$	15,772	$	15,772	$	(0)		
Information Technology	$	1,125	$	469	$	469	$		
Website Maintenance	$	750	$	313	$	313	$		
Telephone	$	300	$	125	$	$	125		
Postage	$	1,000	$	417	$	43	$	374		
Copies	$	1,000	$	417	$	39	$	378		
Insurance	$	6,684	$	6,684	$	5,988	$	696		
Legal Advertising	$	5,000	$	2,083	$	$	2,083		
Other Current Charges	$	2,000	$	833	$	193	$	640		
Office Supplies	$	500	$	208	$	1	$	207		
Property Appraiser	$	250	$	$	$		
Dues, Licenses & Subscriptions	$	175	$	175	$	175	$		
Total General & Administrative	$	123,704	$	57,472	$	48,593	$	8,880		

Qperatians& Maintenance		
Contract Services		
Field Management	$	15,750	$	6,563	$	6,563	$	
Landscape Maintenance	$	283,944	$	118,310	$	85,449	$	32,861	
Lake Maintenance	$	12,900	$	5,375	$	3,350	$	2,025	
Mitigation Monitoring	$	10,000	$	4,167	$	$	4,167	
Repairs &Maintenance					
General Repairs & Maintenance	$	2,500	$	1,042	$	882	$	160	
Operating Supplies	$	500	$	208	$	$	208	
Landscape Replacement	$	5,000	$	2,083	$	$	2,083	
Irrigation Repairs	$	3,000	$	1,250	$	439	$	811	
Alleyway Maintenance	$	5,000	$	2,083	$	$	2,083	
Signage	$	3,500	$	1,458	$	$	1,458	
Utilities					
Electric	$	2,000	$	833	$	419	$	414	
Water & Sewer	$	20,000	$	8,333	$	13,237	$	(4,904)	
Street(ights	$	107,475	$	44,781	$	22,489	$	22,292	
Other					
Contingency	$	5,000	$	2,083	$	$	2,083	
Property Insurance	$	5,184	$	5,184	$	4,752	$	432	
ITotal O2erations & Maintenance		s		4811753	
 $		
zo3i7ss	 $	137,581  $	66,174 	
Total Expenditures	$	605,457	$	261,227	$	186,173  $	75,053	

Excess (Deficiency) of Revenues over Expenditures	
$	-		
$	352,051		
[ Fund Balance - Beginning	$		$	47,408		
					
und Balance- EndilJJ	s		$	399,459		

For The Period Ending February Z8, ZOZ3

I	-	;;  .-  -=	I	I	'.'",Y,' •,'(-·, :

Adopted	Prorated Budget	Actual
, _	1_-	-_P'I	---;,j: t • -::-	■ ., ""\!,·· .,: J,,	-'e•	'<	'•-·''•·_••.JI

Revenues·		
Assessments -Tax Roll	$	419,890	$	394,045	$	394,045	$		
Interest	$		$	$	2,386	$	2,386		
Total Revenues	s	419,890	$	394,045	$	396,431	$	Z,386		

Expenditures·								
Interest-11/1	$	158,794	$	158,794	$	158,794	$		
Principal - 5/1	$	100,000	$	$		$		
Interest- 5/1	$	158,794	$	$		$		
'Total E enditures	$	417,588	$	158,794	$	1sai794	$		

Excess (Deficiency) ofRevenues over Expenditures	
S	
2,303		
$	
237,637			
:Fund Balance - Beginning		167,729			382,477			
								
1Fund Balaace • Ending	s	170.032		s	620,114			

..., -=--	-	- •	•	• ' •·...	'	,._.,..! U....• I l.. /  ...	. •• " ..._.. • ...	...,	' .	- .

For The Period Ending February 28, 2023

Adopted	Prorated Budget	Act11al
-------=--=-=--	.,. ';l:E$Jl!,iirtftt).ffi§-

Reven11es

Interest	

$	
- $	

$	

84	

$	

84		
Total Revenues	$	$	$	84	s	84		

Expenditures·

Capital Outlay	

$	

-  $	

$	
-	

$			
'Total E!i!endltures	s	$	5		$			

Excess (Deficiency) of Revenues over Expenditures	
S	
-	
$	
84				
; Fund Balance - Beginning	$		s	10,253				
								
Jund Balance• Ending	s		$	10,337				

Oct	'.'--iuv	Ill'(	!;m	h·l1	March	Arri!	,\.1,iy 	lune-	[ul •	Aug	Sept	Total

Assessments -Tax Roll	$		$	9,023	$	36,286	$	166,883	$	210,202	$	$	$	$	$	$	$	$	422,395	
Assessments• Direct	$		$	77,220	$		$	38,610	$		$	$	$	$	$	$	$	$	115,829	
Total Revenues	s		s	86,243	$	36,286	$	205,493	$	210,202	$	s	$	s	s	5	s	s	S38,224	

E;mendituces·																			
G.co1:cal& .!ldmiDiW::aU -																			
Supervisor Fees	
$		
$	200	$		$	
$		
$	$	$	
$	
$	$	$	$	200	
FICA Expense	$		$	15	$		$	$		$	$	$	$	$	$	$	$	15	
Engineering	$	1,755	$	595	$	1,020	$	1,935	$		$	$	$	$	$	$	$	$	5,305	
Attorney	$	2,536	$	1,153	$	1,057	$	1,782	$	2,603	$	$	$	$	$	$	$	$	9,131	
Arbitrage	$		$		$	450	$	$		$	$	$	$	$	$	$	$	450	
Dissemination Fees	$	292	$	292	$	292	$	292	$	292	$	$	$	$	$	$	$	$	1,458	
Annual Audit	$		$		$		$	$		$	$								
Trustee Fees	$	1,010	$		$		$	3,030	$		$	$	$	$	$	$	$	$	4,041	
AssessmentAdministration	$	5,000	$		$		$	$		$	$	$	$	$	$	$	$	5,000	
Management Fees	$	3,154	$	3,154	$	3,154	$	3,154	$	3,154	$	$	$	$	$	$	$	$	15,772	
Information Technology	$	94	$	94	$	94	$	94	$	94	$	$	$	$	$	$	$	$	469	
Website Maintenance	$	63	$	63	$	63	$	63	$	63	$	$	$	$	$	$	$	$	313	
Telephone
Postage	
$	
12	
$	
2	
$	
6	
$	3	
$	
20	
$	
$	
$	
$	
$	
$	
$	
$	
43	
Copies	$	4	$		$	10	$	20	$	5	$	$	$	$	$	$	$	$	39	
Insurance	$	5,988	$		$		$	$		$	$	$	$	$	$	$	$	5,988	
Legal Advertising	$		$		$		$	$		$	$								
Other Current Charges	$	38	$	38	$	39	$	39	$	39	$	$	$	$	$	$	$	$	193	
Office Supplies	$	0	$	0	$	0	$	0	$	0										
Property Appraiser	$		$		$		$	$		$	$								
Dues, Llcenses & Subscriptions	$	175	$		$		$	$		$	$	$	$	$	$	$	$	175	
LTotal General &Admlnlstl'1'ti,,.,	s	20,121	s	5,606	s	6,165	$	10,H2	5	6 6ll	s·	$	s	s	s	s	J	s	,W,593	

	Otr		Nt)\,'	B11.	1.111	Fe!J		March		Apr:!		May		f1HH'		luly		,\uj		Sept	Total	
Qpecotiuas& Maintenance																							
Contract Services																							
Field Management	$	1,313	$	1,313	$	1,313	$	1,313	$	1,313	$		$		$		$		$		$		$		$	6,563	
Landscape Maintenance	$	14,501	$	17,737	$	17,737	$	17,737	$	17,737	$		$		$		$		$		$		$		$	85,449	
Lake Maintenance	$	600	$	600	$	600	$	600	$	950	$		$		$		$		$		$		$		$	3,350	
Mitigation Monitoring	$		s		$	$	$	$		$		$		$		$		$		$			
Repairs & Maintenance																							
General Repairs & Maintenance	$	635	$		$	247	$	$	$		$		$		$		$		$		$		$	882	
Operating Supplies	$		$		$	$	$	$		$		$		$		$		$		$		$	
Landscape Replacement	$		$		$	$	$	$		$		$		$		$		$		$		$	
Irrigation Repairs	$		$		$	$	$	439	$		$		$		$		$		$		$		$	439	
Alleyway Maintenance																							
Signage	$		$		$	$	$	$		$		$		$		$		$		$		$	

Utilities																							
Electric	$	84	$	84	$	86	$	72	$	93	$		$		$		$		$		$		$		$	419	
Water & Sewer	s	3,680	$		$	5,804	$	3,753	$	$		$		$		$		$		$		$		$	13,237	
Streetlights	s	4,486	$	4,484	$	4,487	$	4,522	$	4,511	$		$		$		$		$		$		$		$	22,489	
other																							
Contingency																							
Property Insurance	$	4,752	$		$	$	$	$		$		$		$		$		$		$		$	4,752	

,Total O lons &Mal_ntea""_ce		s	 30,0S1_ S'	 24,21.?  $	30,214  $  2_7,C?,26  $  2_§,0,13  $	s	s	 .  s		s	 s		s		s 1:n,!;!IJ

Total E enditures	s	50,172  $	29,824  $	36,459  $	38,407  $	31,312  $	s	s	s	s	$	s	s  186,173

ExccssRcvcnucs(Expcnditurcs)	$	(50,172]  S	56,119  $	(173)  $	167,086  S	!78,B90  $	5	5	5	5	$	;	$  352,051

Dowden West
Community Development District Long Term Debt Summary

SERIES 2018, SPECIAL ASSESSMENT REVENUE BONDS	
INTEREST RATES:	4.35%, 4.85%, 5.40%, 5.55%	
MATURITY DATE:	5/1/2049	
RESERVE FUND DEFINITION	50%OFMAXIMUMANNUALDEBT SERVICE	
RESERVE FUND REQUIREMENT	$209,945	
RESERVE FUND BALANCE	$209,945	
BONDS OUTSTANDING- 02/08/18	$6,170,000	
LESS: PRINCIPAL PAYMENT-05/01/20	($90,000)	
LESS: PRINCIPAL PAYMENT-05/01/21	($95,000)	
LESS: PRINCIPAL PAYMENT-05/01/22	($100,000)	
CURRENT BONDS OUTSTANDING	$5,885,000	

Dowden West
Community Development District
	Special Assessment Revenue Bonds, Serles 2018	

Date	Requisition #	Contractor	Description	Requisition	
Fiscal Year 2022					
11/3/21	B	SOS Solar lncd/b/a Viasol Lighting	Solar lighting deposit invoice #VL200287	S36,192.00	
1/4/22	9	Dewberry Engineers	Invoice: 1998444-A • Consttudion Englneertng Services July 2021	$300.00	
5/26/22	10	SOS Solar lncd/b/a Viasol Lighting	Solar lighting completion invoice #20-1133	$9,048.00	
TOTAL	$45,540.00	

Fiscal Year 2022					
10/1/21	Interest			S0.23	
11/1/21	Interest			$0.24	
12/1/21	Interest			$0.09	
1/1/22	Interest			SO.OB	
2/1/22	Interest			SO.OB	
3/1/22	Interest			S0.07	
4/1/22	Interest			SO.OB	
5/1/22	Interest			SO.OB	
6/1/22	Interest			$0.07	
1/1/22	Interest			S0.04	
8/1/22	Interest			$0.04	
9/1/22	Interest			$6.76	
		TOTAL		$7.86	
			
Project (Construction) Fund at 09/30/21	
$55,784.77	
			Interest Earned thru 09/30/22	$7.86	
			Requisitions Paid thru 09/30/22	($45,540.00)	
			Remaining Project (Construction) Fund		$10,252.63 	

		Date	Requisition# Fiscal Year 2023

Contractor	Descrie!;!on	Requisition

TOTAL	$0.00	

Fiscal Year 2023					
10/1/22	Interest			$12.64	
11/1/22	Interest			S15.52	
12/1/22	Interest			$16.48	
1/1/23	Interest			$19.24	
2/1/23	Interest			$20.50	
		TOTAL		$84.38	
			
Project (Construction) Fund at 09/30/22	
$10,252.63	
			Interest Earned thru 02/28/23	$84.38	
			Requisitions Paid thru 02/28/23	$0.00	

Remaining Project (Construction) Fund		$10,337.01 

Dowden West
Community Development District Special Assessment Receipt Schedule Fiscal Year 2023

ON ROLL ASSESSMENTS

GrossA.ssessment,; $ 479,802.77 $ NetA.ssessment,;  $  451,014.60  $

447,600.00  $
420,744.00  $

927,402.77
871,758.60

51.74%	4826%	100.00%

11/16/22	#2	10/22/22-11/01/22	$3,593.65	$0.00	($143.75)	$0.00	$3,449.90	$1,784.85	$1,665.05	$3,449.90	
11/23/22	#3	11/02/22-11/08/22	$14,574.28	$0.00	($582.98)	$0.00	$13,991.30	$7,238.56	$6,752.74	$13,991.30	
12/07/22	#4	11/09/22-11/17/22	$4,392.25	$0,00	($175.69)	$0.00	$4,216.56	$2,181.49	$2,035.07	$4,216.56	
12/14/22	#5	11/18/22-11/21/22	$64,685.74	$0.00	($2,587.47)	$371.40	$62,469.67	$32,319.42	$30,150.25	$62,469.67	
12/21/22	#6	11/22/22-11/26/22	$3,593.66	$0.00	($143.75)	$0.00	$3,449.91	$1,784.85	$1,665.06	$3,449.91	
01/13/23	#7	11/27/22	$336,006.68	$0.00	($13,440.54)	$0.00	$322,566.14	$166,883.40	$155,682.74	$322,566.14	
02/03/23	#8	11/28/22 -12/02/22	$30,346.42	$0.00	($1,213.88)	$0.00	$29,132.54	$15,072.06	$14,060.48	$29,132.54	
02/16/23	#9	12/03/22-12/06/22	$393,345.81	($447.88)	($15,734.18)	$0.00	$377,163.75	$195,130.12	$182,033.63	$377,163.75	
	TOTAL		s	 850.538.49  s 	(447.88]	S	(34102:Z.M)	S		3'71...40 $	816,439.77  s	422.;!94:,75	 $	394,0,u,.02  $   !116,439,77	

94%	Net Percent Collected
 $	55,318.83 	Balance Remainine to Collect

DIRECT BILL ASSESSMENTS

Mat:tamy Homes - Beachline South Residential
2023-01	$154,439.30	$154,439.30

	- :,.,,.,.......	."i.:..\ ,	j	-;,;; ·	
	--             '	_ _.:,_ I  .._			
11/8/22	11/1/22	33613	$77,219.65	$77,219.65		$77,219.65	
1/25/23	2/1/23	34528	$38,609.83	$38,609.83		$38,609.83	
5/1 /23	  $38 609.83	$0.00	$0.00 	

 -J..il1- ..... ,.	-

$154,439.31	$115,829.48	$115,829.48

10

SECTION 3

LANDOWNER PROXY LANDOWNERS' MEETING - NOVEMBER 16, 2023

DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT ORANGE COUNTY, FLORIDA
NOW ALL MEN BY THESE PRESENTS, that the undersigned, the fee simple owner of the lands described herein, hereby constitutes and appoints:

Proxy Holder

for and on behalf of the undersigned, to vote as proxy at the meeting of the landowners of the Dowden West Community Development District to be held at the offices of GMS-CF, LLC, 219 E. Livingston Street, Orlando,
' FL 32801 on Thursday, November 16, 2023 at 9:00 AM, and at any continuances or adjournments thereof, according to the number of acres of unplatted land and/ or platted lots owned by the undersigned landowner which the undersigned would be entitled to vote if then personally present, upon any question, proposition, or resolution or any other matter or thing which may be considered at said meeting including, but not limited to, the election of members of the Board of Supervisors. Said Proxy Holder may vote in accordance with their discretion on all matters not known or determined at the time of solicitation of this proxy, which may legally be considered at said meeting.

Any proxy heretofore given by the undersigned for said meeting is hereby revoked. This proxy is to continue in full force and effect from the date hereof until the conclusion of the annual meeting and any adjournment or adjournments thereof, but may be revoked at any time by written notice of such revocation presented at the annual meeting prior to the Proxy Holder exercising the voting rights conferred herein.

Printed Name of Fee Simple Landowner		
Signature of Fee Simple Landowner

Parcel Description		Date

Acreage	

Authorized Votes*	

[Insert above the street address of each parcel, the legal description of each parcel, or the tax identification number of each parcel. If more space is needed, identification of Parcels owned may be incorporated by reference to an attachment hereto.]

Total Number of Authorized Votes:

*Pursuant to section 190.006(2)(b), Florida Statutes (2004), a fraction of an acre is treated as one (1) acre entitling the landowner to one vote with respect thereto.

If the fee simple landowner is not an individual, and is instead a corporation, limited liability company, limited partnership or other entity, evidence that the individual signing on behalf of the entity has the authority to do so should be attached hereto. (e.g., bylaws, corporate resolution, etc.)

INSTRUCTIONS

At the Board meeting, when the landowners' election is announced, instructions on how landowners may participate in the election, along with a sample proxy, shall be provided.

At a landowners' meeting, landowners shall organize by electing a chair who shall conduct the meeting. The chair may be any person present at the meeting. If the chair is a landowner or proxy holder of a landowner, he or she may nominate candidates and make and second motions.

Nominations are made from the floor.

After all nominations are made, a ballot is distributed and votes are cast

Each landowner is entitled to one vote for each acre he owns or portion of an acre.

SAMPLE AGENDA

Determination of Number of Voting Units Represented

Call to Order

Election of a Chairman for the Purpose of Conducting the Landowners Meeting

Nominations for the Position of Supervisor

Casting of Ballots

Ballot Tabulation

Landowners Questions and Comments

Adjournment