Dowden West Community Development District
Agenda January 18, 2024

Agenda

Dowden West
Community Development District

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

January 11, 2024

Board of Supervisors Dowden West Community Development District

Dear Board Members:

The Board of Supervisors of Dowden West Community Development District will meet Thursday, January 18, 2024 at 9:00 AM at the Offices of GMS-CF, 219 E. Livingston Street, Orlando, Florida. Following is the advance agenda for the meeting:

Roll Call
Public Comment Period
Approval of Minutes of October 19, 2023 Meeting
Financing Matters
Consideration of Engineer’s Report – Under Separate Cover
Consideration of Assessment Methodology Report - Under Separate Cover
Consideration of Resolution 2024-04 Declaring Special Assessments
Consideration of Resolution 2024-05 Setting a Public Hearing for Special Assessments
Consideration of Acquisition Agreement with Beachline South Residential, LLC
Consideration of Bond Issue Funding Agreement with Beachline South Residential, LLC
Consideration of Resolution 2024-06 Declaring the Series 2018 Project Complete
Ratification Items
Non-Ad Valorem Assessment Administration Agreement with the Orange County Property Appraiser
Agreement with Clark Environmental Mosquito Management, Inc. for Midge Control Services
Discussion of Temporary Access Easement Agreement with 9544 Launch Point
Staff Reports
Attorney
Engineer
District Manager’s Report
Approval of Check Register
Balance Sheet and Income Statement
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,

Jason M. Showe District Manager

CC:	Jan Carpenter, District Counsel Rey Malave, District Engineer Darrin Mossing, GMS

Enclosures

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, October 19, 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:

Chuck Bell	Chairman
Gabe Madlang	Vice Chairperson
Dane Hamilton	Assistant Secretary Also present were:
Jason Showe	District Manager
Jay Lazarovich	District Counsel
Peter Armans	District Engineer by telephone
Alan Scheerer	Field Manager

FIRST ORDER OF BUSINESS	Roll Call
Mr. Showe called the meeting to order and called the roll.

SECOND ORDER OF BUSINESS	Public Comment Period
There being no comments, the next item followed.

THIRD ORDER OF BUSINESS	Approval of the Minutes of the July 20, 2023
Meeting
Mr. Showe: You have the minutes of the July 20, 2023 meeting. Are there any comments, corrections, or changes? Hearing none, I will ask for a motion of approval.

On MOTION by Mr. Bell seconded by Mr. Madlang with all in favor the minutes of the July 20, 2023 meeting were approved as presented.

FOURTH ORDER OF BUSINESS	Consideration	of	Resolution	2024-01
Amending the Fiscal Year 2023 Budget
Mr. Showe: This amendment recognizes the developer contributions as revenue that were not in the budget and that balances our revenues and expenses.

October 19, 2023	Dowden West CDD

On MOTION by Mr. Bell seconded by Mr. Madlang with all in favor Resolution 2024-01 Amending the Fiscal Year 2023 Budget, was approved.

FIFTH ORDER OF BUSINESS	Consideration  of  Agreement  with  Berger
Toombs Elam Gaines & Frank to Provide Auditing services for Fiscal Year 2023

On MOTION by Mr. Bell seconded by Mr. Madlang with all in favor the Engagement Letter with Berger Toombs to perform the Fiscal Year 2023 audit, was approved.

SIXTH ORDER OF BUSINESS	Consideration of Drainage, Maintenance and
Access Easement Agreement with The School Board of Orange County
Mr. Lazarovich: This is a drainage, maintenance and access easement for Tract C and D in the Meridian Parks High School plat. We were asked to prepare this for the School Board of Orange County so they can drain into the ponds and maintain it. We included our standard indemnification and insurance language; however, we do usually get pushback on indemnification. This is a draft and I will send it to the County today and if they have any comments, we can revise it.

On MOTION by Mr. Bell seconded by Mr. Madlang with all in favor the drainage, maintenance and access easement agreement with The School Board of Orange County was approved in substantially final form.

SEVENTH ORDER OF BUSINESS	Ratification of Service Agreement with OUC
for Lighting Service at E-W Connector Road Phase 1

On MOTION by Mr. Bell seconded by Mr. Madlang with all in favor the service agreement with OUC for lighting service at E-W Connector Road Phase 1 was ratified.

EIGHTH ORDER OF BUSINESS	Discussion of Pending Conveyances
Dowden West Road Segment4 – From Developer to CDD
Dowden West Road Segment 4 – From CDD to Orange County Utilities
Dowden West Road Segment 5 – From Developer to CDD
Dowden West Road Segment 5 – From CDD to Orange County Utilities

October 19, 2023	Dowden West CDD

Mr. Lazarovich: These are going to be in substantially final form, we are still waiting on confirmation on the legal from the surveyor. We just wanted to get this in front of the Board to get it substantially approved now and it will also be sent to Mattamy’s counsel for review. We have two bills of sale from Mattamy to the District and from the District to Orange County. There is also our standard agreement regarding taxes, owner’s affidavit, certificate of the District Engineer.
Mr. Bell: Just for clarity it is Beachline South Residential to the District. Mr. Lazarovich: This is for Segment 4 and next will be for Segment 5.

On MOTION by Mr. Bell seconded by Mr. Madlang with all in favor Resolution 2024-02 approving the conveyance of utility improvements in Segment 4 was approved in substantially final form, was approved.

Mr. Lazarovich: Resolution 2024-03 is the same thing for Segment 5.

On MOTION by Mr. Bell seconded by Mr. Madlang with all in favor Resolution 2024-03 approving the conveyance of utility improvements in Segment 5 was approved in substantially final form, was approved.

NINTH ORDER OF BUSINESS	Staff Reports
Attorney
There being no comments, the next item followed.

Engineer
Presentation of Annual Report
Mr. Armans: This is just to go with the inspections that were completed previously. We provide this letter to go with any recording to the bonding companies.
Rey also wanted me to mention that he is waiting on confirmation from the inspector on the development side to verify any clearances on the utilities before he can sign the certification.
The last item Dewberry is working on is the easement language for some pipes going through the wetland that need an easement to be drafted. We are working on getting the descriptions and sketches.

Manager
Approval of Check Register

October 19, 2023	Dowden West CDD

Mr. Showe presented the check register from July 8, 2023 through October 6, 2023 in the amount of $113,680.02.

On MOTION by Mr. Bell seconded by Mr. Madlang 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.

Ratification of Funding Request #1

On MOTION by Mr. Bell seconded by Mr. Madlang with all in favor Funding Request no. 1 was ratified.

TENTH ORDER OF BUSINESS	Supervisor’s Requests
Mr. Bell: I understand the alley near the railroad tracks some Podocarpus walked away.
What is the plan to replace them?
Mr. Scheerer: We aren’t doing anything until all the construction is done. There were 170 plants stolen. I will get with Lathan on Friday and see if we can get a game plan for replacing them at some point.
Mr. Bell: We are in review for the portion of the north/south road, which links Dowden Road south to the east west road. We are under design for the next portion of that road as well and the master plan was recently approved for neighborhood 7 and all of neighborhood 13. We have a preapplication with the city for another master plan for neighborhood N3.
Mr. Scheerer: The sooner we can get the plats, master plans, whatever you have the sooner we can start working with the landscape provider and county staff to account for utility costs and streetlights.

ELEVENTH ORDER OF BUSINESS	Other Business
There being no comments, the next item followed.

TWELFTH ORDER OF BUSINESS	Next Meeting Date
Mr. Showe: The next meeting date is November 16, 2023 and we plan to hold that if needed.

October 19, 2023	Dowden West CDD

THIRTEENTH ORDER OF BUSINESS	Adjournment

On MOTION by Mr. Bell seconded by Mr. Madlang with all in favor the meeting adjourned at 9:14 a.m.

Secretary/Assistant Secretary	Chairman/Vice Chairman

Section IV

Section A

This item will be provided under separate cover

Section B

This item will be provided under separate cover

Section C

RESOLUTION NO. 2024-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT DECLARING SPECIAL ASSESSMENTS ON PROPERTY WITHIN THE DISTRICT; INDICATING THE LOCATION, NATURE AND ESTIMATED COST OF THOSE IMPROVEMENTS WHOSE COST IS TO BE DEFRAYED BY THE SPECIAL ASSESSMENTS; PROVIDING THE ESTIMATED COST OF THE IMPROVEMENTS TO BE PARTIALLY DEFRAYED BY THE SPECIAL ASSESSMENTS; PROVIDING THE MANNER IN WHICH SUCH SPECIAL ASSESSMENTS SHALL BE MADE; PROVIDING WHEN SUCH SPECIAL ASSESSMENTS SHALL BE MADE; DESIGNATING LANDS UPON WHICH THE SPECIAL ASSESSMENTS SHALL BE LEVIED; PROVIDING FOR AN ASSESSMENT PLAT; ADOPTING A PRELIMINARY ASSESSMENT ROLL; PROVIDING FOR A PUBLIC HEARING TO CONSIDER THE ADVISABILITY AND PROPRIETY OF SAID ASSESSMENTS AND THE RELATED IMPROVEMENTS; PROVIDING FOR NOTICE OF SAID PUBLIC HEARING; PROVIDING FOR PUBLICATION OF THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors of the Dowden West Community Development District ("Board") hereby determines to undertake, install, plan, establish, construct or reconstruct, enlarge or extend, equip, acquire, operate, and/or maintain certain public infrastructure improvements referred to as the Capital Improvement Plan ("Capital Improvement Plan") described in the Dowden West Community Development District Master Engineer’s Report, dated June 15, 2017, as amended and supplemented by the Dowden West Community Development District 2024 Supplemental Engineer’s Report, dated January 18, 2024, attached hereto as Exhibit “A” and incorporated by reference (the “Engineer’s Report”); and

WHEREAS, the Board has determined that the Dowden West Community Development District ("District") shall defray the cost of the Capital Improvement Plan by the levy of non-ad valorem special assessments pursuant on the properties within District in pursuant to Chapter 190, Florida Statutes ("Assessments"); and

WHEREAS, the District is empowered by Chapter 190, the Uniform Community Development District Act, Chapter 170, Supplemental Alternative Method of Making Local and Municipal Improvements, and Chapter 197, Florida Statutes, to finance, fund, plan, establish, acquire, construct or reconstruct, enlarge or extend, equip, operate, and maintain the Improvements and to impose, levy and collect the Assessments; and

WHEREAS, the District hereby determines that benefits will accrue to the property improved, the amount of those benefits, and that special assessments will be made in proportion to the benefits received as set forth in the [Master Assessment Methodology for the 	 for Dowden West Community Development District], dated January 18, 2024, attached hereto as

Exhibit "B" and incorporated by reference (the “Assessment Report”), and on file at 219 E. Livingston Street, Orlando, Florida 32801(“District Records Office”); and

WHEREAS, the District hereby determines that the Assessments to be levied will not exceed the benefits to the property improved.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT IN THE CITY OF ORLANDO, ORANGE COUNTY, FLORIDA:

Assessments shall be levied to defray the cost of the Capital Improvement Plan.

The Board hereby approves and adopts the Engineer’s Report, which may be amended from time to time by this Board.

The general nature of the Capital Improvement Plan is more specifically described in the Engineer’s Report and in certain plans and specifications on file at the District Records Office.

The general location of the Capital Improvement Plan is shown in the Engineer’s Report and in plans and specifications on file at the District Records Office.

The  estimated  cost  of  the  Capital  Improvement  Plan  is  approximately
$[	] (hereinafter collectively referred to as the "Estimated Cost").

The Assessments will defray approximately $[	] for the Capital Improvement Plan, which includes the Estimated Cost, plus financing related costs, capitalized interest and, debt service reserve.

The manner in which the Assessments shall be made is contained within the Assessment Report, which is attached hereto as Exhibit “B” and is also available at the District Records Office.

The Assessments shall be levied on all lots and lands within the District which are adjoining to, contiguous with or bounding and abutting upon the Capital Improvement Plan or specially benefited thereby and are further designated on the assessment plat referenced below.

There is on file at the District Records Office, an assessment plat showing the area to be assessed, together with plans and specifications describing the Capital Improvement Plan and the Estimated Cost, which shall be open to inspection by the public.

The District Manager has caused to be made a preliminary assessment roll, in accordance with the method of assessment described in Exhibit "B" hereto, which shows the lots and lands assessed, the amount of benefit to and the assessment against each lot or parcel of land

and the number of annual installments into which the assessment may be divided, which is hereby adopted and approved as the District's preliminary assessment roll.

Commencing with the year in which the Assessments are confirmed, the Assessments shall be paid in accordance with the Assessment Report, but in no event in more than thirty annual installments payable at the same time and in the same manner as are ad-valorem taxes and as prescribed by Chapter 197, Florida Statutes; provided, however, that in the event the non ad-valorem assessment method of collecting the Assessments is not available to the District in any year, or the District determines not to utilize the provisions of Chapter 197, Florida Statutes, the Assessments may be collected as is otherwise permitted by law.

The Board shall adopt a subsequent resolution to fix a time and place at which the owners of property to be assessed or any other persons interested therein may appear before the Board and be heard as to the propriety and advisability of the assessments or the making of the Capital Improvement Plan, the cost thereof, the manner of payment therefore, or the amount thereof to be assessed against each property as improved.

The District Manager is hereby directed to cause this Resolution to be published twice (once a week for two (2) weeks) in a newspaper of general circulation within the City of Orlando, Orange County and to provide such other notice as may be required by law or desired in the best interests of the District.

This Resolution shall become effective upon its passage.

Any capitalized terms used herein and not defined, shall have the meanings set forth in the Assessment Report.

PASSED AND ADOPTED this 18th day of January, 2024

ATTEST:
DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT, a Florida
community development district

By: 		By: 	

Name: 		Name: 		 Secretary / Assistant Secretary			Chairman / Vice Chairman

Exhibit "A"

Dowden West Community Development District 2024 Supplemental Engineer’s Report, dated January 18, 2024

[See attached.]

Exhibit "B"

[Master Assessment Methodology
for 	 for Dowden West Community Development District], dated January 18, 2024

[See attached.]

Section D

RESOLUTION 2024-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT SETTING   A   PUBLIC   HEARING   TO   BE   HELD   ON
	, 2024 AT 	 A.M./P.M. AT
	, FOR THE PURPOSE OF HEARING PUBLIC COMMENT ON IMPOSING SPECIAL ASSESSMENTS ON CERTAIN PROPERTY WITHIN THE DISTRICT IN ACCORDANCE WITH CHAPTERS 170, 197, 190, FLORIDA STATUTES; PROVIDING FOR SEVERABILITY, CONFLICTS AND AN EFFECTIVE DATE.

WHEREAS, the Dowden West Community Development District (the “District) is a local unit of special-purpose government duly organized and existing under the provisions of the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the “Act”); and

WHEREAS, the District has previously adopted Resolution 2024-04, entitled:

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT DECLARING SPECIAL ASSESSMENTS ON PROPERTY WITHIN THE DISTRICT; INDICATING THE LOCATION, NATURE AND ESTIMATED COST OF THOSE IMPROVEMENTS WHOSE COST IS TO BE DEFRAYED BY THE SPECIAL ASSESSMENTS; PROVIDING THE ESTIMATED COST OF THE IMPROVEMENTS TO BE PARTIALLY DEFRAYED BY THE SPECIAL ASSESSMENTS; PROVIDING THE MANNER IN WHICH SUCH SPECIAL ASSESSMENTS SHALL BE MADE; PROVIDING WHEN SUCH SPECIAL ASSESSMENTS SHALL BE MADE; DESIGNATING LANDS UPON WHICH THE SPECIAL ASSESSMENTS SHALL BE LEVIED; PROVIDING FOR AN ASSESSMENT PLAT; ADOPTING A PRELIMINARY ASSESSMENT ROLL; PROVIDING FOR A PUBLIC HEARING TO CONSIDER THE ADVISABILITY AND PROPRIETY OF SAID ASSESSMENTS AND THE RELATED IMPROVEMENTS; PROVIDING FOR NOTICE OF SAID PUBLIC HEARING; PROVIDING FOR PUBLICATION OF THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE DATE.

WHEREAS, in accordance with Resolution No. 2024-04, a preliminary assessment roll has been prepared and all other conditions precedent set forth in Chapter 170, 197 and 190, Florida Statutes, to the holding of the aforementioned public hearing have been satisfied, and the roll and related documents are available for public inspection at 219 E. Livingston Street, Orlando, Florida 32801 (the “District Records Office”).

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

Incorporation of Recitals. The recitals stated above are true and correct and by this reference are incorporated by reference as a material part of this Resolution.

Declaration of Public Hearing.	The District hereby declares a public hearing  to  be  held  on 	,  2024,  at 	  A.M./P.M.  at  the

for the purpose of hearing comment and objection to the proposed special assessment program for community improvements as identified in the [Master Assessment Methodology for
	 for Dowden West Community Development District], dated January 18, 2024 (the “Assessment Report”) attached hereto as Exhibit “A” and the preliminary assessment roll, available at the District Records Office. Affected parties may appear at the hearing or submit their comments in writing prior to the meeting to the attention of the District Manager at the District Records Office.

Advertising Of Public Hearing. Notice of said hearing shall be advertised in accordance with Chapter 170, 190, and 197, Florida Statutes, and the District Manager is hereby authorized and directed to place said notice in a newspaper of general circulation within the City of Orlando, Orange County (by two publications one week apart with the last publication at least one week prior to the date of the hearing established herein). The District Manager shall file a publisher’s affidavit with the District Secretary verifying such publication of notice. The District Manager is further authorized and directed to give thirty (30) days’ written notice by mail of the time and place of this hearing to the owners of all property to be assessed and include in such notice the amount of the assessment for each such property owner, a description of the areas to be improved and notice that information concerning all assessments may be ascertained at the District Records Office. The District Manager shall file proof of such mailing by affidavit with the District Secretary.

SEVERABILITY. If any section, paragraph, clause or provision of this Resolution shall be held to be invalid or ineffective for any reason, the remainder of this Resolution shall continue in full force and effect, it being expressly hereby found and declared that the remainder of this Resolution would have been adopted despite the invalidity or ineffectiveness of such section, paragraph, clause or provision.

CONFLICTS. All resolutions or parts thereof in conflict herewith are, to the extent of such conflict, superseded and repealed.

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

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

SIGNATURE PAGE FOR RESOLUTION 2024-05

ADOPTED this 18th day of January, 2024.

DOWDEN WEST COMMUNITY DEVELOPMENT	DISTRICT,	a	Florida
community development district

Attest:

Chairperson or Vice Chairperson, Board of Supervisors

Its: Secretary

EXHIBIT “A” ASSESSMENT REPORT
[Master Assessment Methodology
for 	 for Dowden West Community Development District], dated January 18, 2024

[ATTACHED ON FOLLOWING PAGES]

Section E

AGREEMENT BY AND BETWEEN THE DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT AND THE DEVELOPER, REGARDING
THE ACQUISITION OF CERTAIN WORK PRODUCT AND INFRASTRUCTURE FOR SPECIAL ASSESSMENT REVENUE BONDS,
SERIES 2024 (2024 PROJECT)

THIS AGREEMENT BY AND BETWEEN THE DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT AND THE DEVELOPER, REGARDING THE ACQUISITION OF CERTAIN WORK PRODUCT AND INFRASTRUCTURE (the
“Acquisition Agreement”) is made and entered into as of January 18, 2024 by and between DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT, a local unit of special- purpose government established pursuant to Chapter 190, Florida Statutes, being situated in Orange County, Florida (the “District”) and BEACHLINE SOUTH RESIDENTIAL, LLC, a Florida limited liability company (the “Developer”).

RECITALS

WHEREAS, the District was established by Ordinance No. 2017-20 by the City Council of the City of Orlando, Florida, adopted on April 10, 2017 (the “Ordinance”), for the purpose of planning, financing, constructing, acquiring, operating and/or maintaining certain infrastructure, including surface water management systems, water and wastewater facilities, roadways, landscaping, parks, and recreational facilities and uses; and

WHEREAS, the Developer is the developer and and/or owner of certain property located within the District boundaries identified in Exhibit “A,” (the “2024 Assessment Area” and/or Parcels N-4N, N-4S, N-5 and N-1C), which is attached hereto and incorporated herein (the “Lands”); and

WHEREAS, the District is issuing its Dowden West Community Development District Special Assessment Revenue Bonds, Series 2024 (the “2024 Bonds”) to finance the planning, design, acquisition, construction, and installation of certain infrastructure improvements, facilities, and services (the “Improvements”) as detailed in the Dowden West Community Development District 2024 Supplemental Engineer’s Report, dated January 18, 2024, as may be amended (the “Engineer’s Report”), attached hereto as Exhibit “B;” and

WHEREAS, the District plans to construct, complete the construction and/or acquire certain public infrastructure improvements within the Development (the “2024 Project”), as more specifically described and identified in the Engineer’s Report; and

WHEREAS, the Developer acknowledges that the Development will benefit from the timely completion and acquisition of the 2024 Project; and

WHEREAS, the Developer and the District acknowledge that the funds available from the 2024 Bonds will not be sufficient to complete the design, construction and/or acquisition of the 2024 Project; and

WHEREAS, the Developer has agreed to complete the 2024 Project, as more generally described in Exhibit “C” (as completed, the “Improvements”), in an expeditious and timely manner, some of which development requires or includes some of the improvements or items as described herein; and

WHEREAS, the District has not had sufficient monies on hand to allow the District to contract directly for the preparation of the necessary surveys, reports, drawings, plans, permits, specifications, and related documents contemplated in Exhibit “D” (the “Work Product”), which would allow the timely commencement and completion of construction of the Improvements; and

WHEREAS, the Developer is under contract to create or has created the Work Product for the District and wishes to convey certain elements thereof, as it is completed, to the District; and

WHEREAS, the Developer acknowledges that upon its conveyance, the District will have the right to use and rely upon the Work Product for any and all purposes and further desires to release to the District of all its right, title, and interest in and to the Work Product (except as provided for in this Acquisition Agreement); and

WHEREAS, the District desires to acquire ownership of the completed Work Product as well as the unrestricted right to use and rely upon the Work Product for any and all purposes; and

WHEREAS, in order to allow the District to avoid delay as a result of the lengthy process incident to the sale and closing on the 2024 Bonds, the Developer has under contract, under construction, or is obligated to convey to appropriate units of local government as is designated in the Engineer’s Report, certain portions of the 2024 Project; and

WHEREAS, the Developer agrees to convey to the District all right, title, and interest in the Improvements to be owned by the District as of the “Acquisition Date” (as hereinafter defined); and

WHEREAS, the District wishes to acquire the Improvements from the Developer as of the Acquisition Date, notwithstanding the District’s inability pay for all or some of the Improvements with the proceeds of the 2024 Bonds; and

WHEREAS, in conjunction with the acquisition of the Improvements, the Developer desires to convey, or cause to be conveyed, to the District, interests in certain real property sufficient to allow the District to own, operate, maintain, construct, or install the Improvements, whether such conveyances shall be in fee simple, perpetual easement, or other interest as may be in the best interests of the District, or required by permits or development plans and agreed to by the Developer (the “Real Property”); and

WHEREAS, the Developer agrees to convey, or cause to be conveyed, any such Real Property to the District and in a form satisfactory to the District and subject to the conditions set forth herein; and

WHEREAS, the Developer shall have the option to contribute additional Real Property and/or Improvements with values in an amount equal to or in excess of the Lands Assessments, and, if such option is elected, the District has agreed to accept such conveyances in lieu of assessments in order to complete the 2024 Project, in an expeditious and timely manner (“Conveyances in Lieu of Assessments”); and

WHEREAS, the District and the Developer are entering into this Acquisition Agreement to ensure the timely completion, conveyance and operation of the 2024 Project.

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 District and the Developer agree as follows:

Incorporation of Recitals. The recitals stated above are true and correct and by this reference are incorporated as a material part of this Acquisition Agreement.

WORK PRODUCT. The District agrees to pay, but only to the extent funds are available for such purpose derived from the proceeds of the 2024 Bonds, the actual reasonable cost incurred by the Developer in preparation of the Work Product in accordance with the provisions of this Acquisition Agreement. The Developer shall provide copies of any and all invoices, bills, receipts, or other evidence of costs incurred by the Developer for the Work Product. The parties agree that Acquisition Dates may be established for the acquisitions contemplated by this Acquisition Agreement. The District Engineer shall review all evidence of cost and shall certify to the District’s Board of Supervisors the total actual amount of cost, which in the District Engineer’s sole opinion is reasonable for the Work Product. The District Engineer’s opinion as to cost shall be set forth in an Engineer’s Certificate which shall accompany the requisition for the funds from the District’s Trustee. In the event that the Developer disputes the District Engineer’s opinion as to cost, the District and the Developer agree to use good faith efforts to resolve such dispute. If the parties are unable to resolve any such dispute, the parties agree to jointly select a third-party engineer whose decision as to any such dispute shall be binding upon the parties. Such a decision by a third-party engineer shall be set forth in an Engineer’s Affidavit which shall accompany the requisition for the funds from the District’s Trustee. The parties acknowledge that the Work Product is being acquired for use by the District in connection with the construction or operation, as applicable, of the Improvements.

The Developer agrees to release and/or to provide a non-exclusive assignment to the District of the right, title, and interest which the Developer may have in and to the above described Work Product, as well as all common law, statutory, and other reserved rights, including all copyrights in the Work Product and extensions and renewals thereof under United States law and throughout the world, and all publication rights and all subsidiary rights and other rights in and to the Work Product in all forms, mediums, and media, now known or hereinafter devised. To the extent determined necessary by the District, the Developer shall obtain all releases and/or assignments from any professional providing services in connection with the Work Product to enable the District to use and rely upon the Work

Product. Such releases and/or assignments may include, but are not limited to, any architectural, engineering, or other professional services. Such releases shall be provided in a timely manner in the reasonable discretion of the District.

The Developer acknowledges the District’s right to use and rely upon the Work Product for any and all purposes.

Acquisition of Improvements. The Developer agrees that bond proceeds shall only be disbursed upon completion of the Improvements and conveyance to the District. The Developer has constructed, is constructing, has under contract or will have under contract to construct and complete, the Improvements. When the Improvements are completed and are ready for conveyance by the Developer to the District, the Developer shall notify the District in writing, describing the nature of the Improvements, their general location, and their estimated cost. Any Real Property interests necessary for the functioning of the Improvements to be acquired under this paragraph shall be reviewed and conveyed in accordance with the provisions of Section 4. The District Engineer, in consultation with counsel, shall determine in writing whether or not the infrastructure to be conveyed is a part of the Improvements contemplated by the Engineer’s Report and, if so, shall provide Developer with a list of items necessary to complete the acquisition. Each such acquisition shall also be subject to the engineering review and certification process described in Section 2. The District Manager shall determine, in writing, whether the District has, based on the Developer’s estimate of costs, any unencumbered 2024 Bonds funds available to pay for the acquisition of such Improvements, although the Developer agrees that such payment is not required for the conveyance(s), if sufficient funds are not available. The Developer agrees, if it elects this option, that either no payments or reimbursements of any kind shall be made by the District for Conveyances in Lieu of Assessments, or payments or reimbursements may be deferred or partially deferred pending availability of unencumbered 2024 Bonds funds becoming available.

All documentation of any acquisition (e.g., bills of sale, receipts, maintenance bonds, as-built, evidence of costs, deeds or easements, etc.) shall be to the reasonable satisfaction of the District. If any item acquired by the District is to be subsequently conveyed to a third-party governmental body, then the Developer agrees to cooperate and provide such certifications or documents as may be required by that governmental body, if any.

The District Engineer shall certify as to the actual cost of any Improvements built or constructed by or at the direction of the Developer, and the District shall pay no more than the actual cost incurred, or the current value thereof, whichever is less, as determined by the District Engineer.

The Developer agrees to cooperate fully in the transfer of any permits to the District or a governmental entity with maintenance obligations for any Improvements conveyed pursuant to this Acquisition Agreement.

Conveyance of Real Property.

Conveyance. The Developer agrees that it will convey, or cause to be conveyed by others, to the District at or prior to the Acquisition Date, and as determined solely by the District by a special warranty deed, easement (which may be non-exclusive), or other instrument reasonably acceptable to the District and the Developer together with a metes and bounds or platted legal description, the Real Property upon which the Improvements are constructed or which are necessary for the operation and maintenance of, and access to, the Improvements, or subsequently required to be conveyed by the District to the Orange County or any other governmental entity. The parties agree that in no event shall the purchase price for the Real Property exceed the value of an appraisal or similar third-party report (prepared by a qualified appraiser or appraisal company) or other evidence acceptable to the District’s bond counsel and District staff, obtained by the Developer or the District for this purpose. The parties agree that the purchase price shall not include amounts attributable to the value of Improvements on the Real Property and other Improvements serving the Property that have been, or will be, funded by the District. If requested and necessary, such special warranty deed or other instrument shall be subject to a reservation by Developer of its right and privilege to use the area conveyed to construct any Improvements and any future Improvements to such area for any related purposes (including, but not limited to, construction traffic relating to the construction of the Development) not inconsistent with the District’s use, occupation or enjoyment thereof. The Developer shall pay the cost for recording fees and documentary stamps required, if any, for the conveyance of the Real Property upon which the Improvements are constructed, including costs, if any, for the further conveyance by the District to Orange County or any other governmental entity, if applicable. The Developer shall be responsible for all taxes and assessments levied on the lands upon which the Improvements are constructed until such time as the Developer conveys all said lands to the District. At the time of conveyance, the Developer shall provide, at its expense, an owner’s title insurance policy in a form satisfactory to the District in an amount equal to the value paid by the District to the Developer for such Real Property (or a title search, if the District determines, in its sole discretion, a title policy is not necessary). In the event the title search reveals exceptions to title which render title unmarketable or which, in the District’s reasonable discretion, would materially interfere with the District’s use of such Real Property, the Developer shall cure, or cause to be cured, such defects at no expense to the District.

Boundary or Other Adjustments. Developer and the District agree that reasonable future boundary adjustments may be made as deemed necessary by both parties in order to accurately describe lands conveyed to the District and lands which remain in Developer’s ownership. The parties agree that in

the event any land transfers made to the District to accommodate such adjustments when result in a net increase in acreage to the District when there are bond proceeds available, the District will pay the lesser of the Developer’s cost basis in the land received by the District or fair market value as determined by an independent appraisal. For any land transfers made to the Developer to accommodate such adjustments for which bond proceeds were used to pay for such land, the Developer shall pay the greater of the price paid by the District for such land or the fair market value as determined by an independent appraisal. Notwithstanding the above, if there is no net increase or decrease in the lands to be owned by the District and the Developer as a result of such conveyances, no consideration will be owed by either party provided the swapped lands have the same utility. Further, the parties may request an opinion of the District’s bond counsel if some other alternative is proposed for any boundary adjustments and such opinion concludes that such alternative will not adversely affect the tax status of the 2024 Bonds. The party requesting such adjustment shall pay any transaction costs resulting from the adjustment, including but not limited to taxes, title insurance, appraisals, any District bond counsel fee, recording fees or other costs.

Cooperation and Completion. The parties agree to cooperate and use good faith and best efforts to undertake and complete the acquisition process contemplated by this Acquisition Agreement on such date or dates as the parties may jointly agree upon (each an “Acquisition Date”), but all must be no later than the end of a reasonable time period for acquisition considering the type of Work Product, Real Property and Improvements to be conveyed, or such other time period required to maintain the tax-exempt status of the 2024 Bonds as determined by an opinion of the District’s bond counsel.

Engineer’s Certification. Before any payments are made by the District to the Developer, or any Improvements, Work Product or Real Property is accepted by the District, in addition to the other requirements provided herein the Developer shall provide to the District a certificate, signed by the District Engineer certifying that the Work Product, Improvements or Real Property are a part of the 2024 Project and that such Work Product, Improvements or Real Property has been prepared, constructed, installed or must be acquired, in conformity with the plans and specifications, the Engineer’s Report and all applicable laws related to the preparation, construction, installation or acquisition thereof.

WARRANTY. For the acquisition of Improvements or Work Product hereunder, the Developer agrees to assign to the District all or any remaining portion of any professionals’ or contractors’ warranties, contracts or bonds, warrantying or guaranteeing that the Improvements or Work Product conveyed against defects or failings in materials, equipment, fitness or construction. Notwithstanding such assignment, the Developer shall cause any such professionals and contractors to warranty that the Improvements are free from defects in materials, equipment and construction for a period of at least one (1) year from completion thereof.

DEFAULT. A default by either party under this Acquisition Agreement shall entitle the other to all remedies available at law or in equity, which may include, but not be limited to, the right of damages (except special, consequential or punitive) and/or specific performance.

If the Developer fails to keep, observe or perform any of the agreements, terms, covenants or representations, or otherwise is in default of this Acquisition Agreement, the District shall give written notice to Developer (at the address listed in Section 13 below), and the Developer shall have sixty (60) days to cure such default (which time may be extended by the District in its sole discretion), unless a shorter time to cure is mandated by applicable law or regulation.

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

Acquisition Agreement. This instrument shall constitute the final and complete expression of this Acquisition Agreement between the District and the Developer relating to the subject matter of this Acquisition Agreement.

AMENDMENTS. Amendments to and waivers of the provisions contained in this Acquisition Agreement may be made only by an instrument in writing which is executed by all parties hereto.

AUTHORIZATION. The execution of this Acquisition Agreement has been duly authorized by the appropriate body or official of the District and the Developer. The District and the Developer have complied with all the requirements of law. The District and the Developer have full power and authority to comply with the terms and provisions of this instrument.

NOTICES. All notices, requests, consents and other communications under this Acquisition Agreement (“Notices”) shall be in writing and shall be 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 E. Livingston Street Orlando, Florida 32801 Attention: District Manager Telephone: (407) 841-5524 Email: jshowe@gmscfl.com

With a copy to:	Latham, Luna, Eden & Beaudine, LLP
201 South Orange Avenue, Suite 1400
Orlando, Florida 32801
Attention: Jan Albanese Carpenter, Esq. Telephone: (407) 481-5800

Email: jcarpenter@lathamluna.com

If to Developer:	Beachline South Residential, LLC
4901 Vineland Road, Suite 450
Orlando, Florida 32811 Attention: Nicole Swartz, Esq. Telephone: (407) 845-8191
Email: Nicole.Swartz@mattamycorp.com

With a copy to:	Shutts & Bowen LLP
300 South Orange Avenue, Suite 1600
Orlando, Florida 32801 Attention: Juli Simas James, Esq. Email: JJames@shutts.com

Except as otherwise provided in this Acquisition Agreement, any Notice shall be deemed received only upon actual delivery at the address set forth above. 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 Acquisition 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 the District and counsel for the Developer may deliver Notice on behalf of the District and the Developer. 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 five (5) days’ written notice to the parties and addressees set forth herein. Copies of Notices may be sent by e-mail, but such transmission should not constitute delivery under this Acquisition Agreement.

Arm’s Length Transaction. This Acquisition Agreement has been negotiated fully between the District and the Developer as an arm’s length transaction. All parties participated fully in the preparation of this Acquisition Agreement and received the advice of counsel. In the case of a dispute concerning the interpretation of any provision of this Acquisition Agreement, all parties are deemed to have drafted, chosen, and selected the language, and the doubtful language will not be interpreted or construed against any party hereto.

Third-Party Beneficiaries. This Acquisition Agreement is solely for the benefit of the District and the Developer and no right or cause of action shall accrue upon or by reason, to or for the benefit of any third-party not a formal party to this Acquisition Agreement. Nothing in this Acquisition Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the District and the Developer any right, remedy, or claim under or by reason of this Acquisition Agreement or any of the provisions or conditions of this Acquisition Agreement; and all of the provisions, representations, covenants, and conditions contained in this Acquisition Agreement shall inure to the sole benefit of and shall be binding upon the District and the Developer and their respective successors and assigns. Notwithstanding the foregoing, nothing in this paragraph shall be construed as impairing or modifying the rights of any holders of bonds issued by the District for the purpose of acquiring any Work Product, Real

Property, or Improvements, and the Trustee for the 2024 Bonds, on behalf of the owners of the 2024 Bonds, shall be a direct third-party beneficiary of the terms and conditions of this Acquisition Agreement and shall be entitled to cause the District to enforce the Developer’s obligations hereunder. The Trustee shall not be deemed to have assumed any obligation under this Acquisition Agreement.

ASSIGNMENT. This Acquisition Agreement may be assigned, in whole or in part, by either party only upon the written consent of the other, which consent shall not be unreasonably withheld.

Controlling Law And Venue. This Acquisition Agreement and the provisions contained in this Acquisition Agreement shall be construed, interpreted, and controlled according to the laws of the State of Florida. The Parties hereby acknowledge and agree that, in the event legal action is instituted to enforce this Acquisition Agreement, the Developer consents to and by execution hereof submit to the jurisdiction of any state court sitting in or for Orange County, Florida.

EFFECTIVE DATE. This Acquisition Agreement shall be effective upon its execution by the District and the Developer.

PUBLIC RECORDS. The Developer understands and agrees that all documents of any kind provided to the District in connection with this Acquisition Agreement may be public records and will be treated as such in accordance with Florida law.

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

Sovereign Immunity. The Developer agrees that nothing in this Acquisition Agreement shall constitute or be construed as a waiver of the District’s limitations on liability contained in Section 768.28, Florida Statutes, or other statutes or laws.

Headings for Convenience Only. The descriptive headings in this Acquisition Agreement are for convenience only and shall not control nor affect the meaning or construction of any of the provisions of this Acquisition Agreement.

COUNTERPARTS. This Acquisition 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 and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document to physically form one document.

[SIGNATURE PAGE TO FOLLOW]

COUNTERPART SIGNATURE PAGE TO THE AGREEMENT BY AND BETWEEN THE DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT AND THE DEVELOPER, REGARDING THE ACQUISITION OF CERTAIN WORK PRODUCT AND INFRASTRUCTURE

IN WITNESS WHEREOF, the parties hereto have caused this Acquisition Agreement to be signed, sealed and attested on their behalf by duly authorized representatives, all as of the date first set forth above.

DEVELOPER:

BEACHLINE SOUTH RESIDENTIAL, LLC, a
Florida limited liability company

By: Mattamy Orlando LLC, a Florida limited liability company, its Manager

By:	 Name: 	 Title: 	

COUNTERPART SIGNATURE PAGE TO THE AGREEMENT BY AND BETWEEN THE DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT AND THE DEVELOPER, REGARDING THE ACQUISITION OF CERTAIN WORK PRODUCT AND INFRASTRUCTURE

IN WITNESS WHEREOF, the parties hereto have caused this Acquisition Agreement to be signed, sealed and attested on their behalf by duly authorized representatives, all as of the date first set forth above.

DISTRICT:

DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT,
a Florida community development district

By:	 Print: Ralph Charles Bell
Title: Chairman

11

EXHIBIT “A”

Legal Description

[ATTACHED BELOW]

EXHIBIT “B”

Engineer’s Report

[ATTACHED BELOW]

EXHIBIT “C”

Improvements to be Acquired

Stormwater management facilities (pipes, drainage structures, outfalls) and related earthwork for stormwater pond excavation and dewatering);
Potable water, reclaimed water and sanitary sewer systems (lift station, pipes, fittings and valves) and connection fees;
Electrical distribution and street lighting;
Roadways and alleys, pavement markings and signage for District roads;
Landscape, hardscape and irrigation (anticipated to include perimeter landscape buffers, master signage, way finding signage, entry hardscape features, amenity area landscape, pedestrian/multipurpose trails and street trees); and together with all real property underlying the Improvements.

[TO BE CONFIRMED]

EXHIBIT “D”

Work Product

All architectural, engineering, landscape design, construction and other professional work product related to the Improvements including but not limited to plans, specifications, designs, drawings, permit applications and permits, surveys, and the like.

Section F

BOND ISSUE FUNDING AGREEMENT BETWEEN DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT AND DEVELOPER
(SPECIAL ASSESSMENT REVENUE BONDS, SERIES 2024)

THIS BOND ISSUE FUNDING AGREEMENT (this “Agreement”) is made and effective this 18th day of January, 2024, by and between DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, being situated in Orange County, Florida, (the “District”) and BEACHLINE SOUTH RESIDENTIAL, LLC, a Florida limited liability company, located at 4901 Vineland Road, Suite 450, Orlando, Florida 32811 (the “Developer” and, together with the District, the “Parties”).

RECITALS

WHEREAS, the District was established by Ordinance No. 2017-20 by the City Council of the City of Orlando, Florida, adopted on April 10, 2017 (the “Ordinance”), for the purpose of planning, financing, constructing, acquiring, operating and/or maintaining certain infrastructure, including surface water management systems, water and wastewater facilities, roadways, landscaping, parks, and recreational facilities and uses; and

WHEREAS, the Developer is the developer and and/or owner of certain property located within the District boundaries identified in Exhibit “A,” (the “2024 Assessment Area” and/or Parcels N-4N, N-4S, N-5 and N-1C), which is attached hereto and incorporated herein (the “Lands”); and

WHEREAS, the District was asked by the Developer to issue the Dowden West Community Development District Special Assessment Revenue Bonds, Series 2024 (the “2024 Bonds”) to provide financing the for master capital improvement plan consisting of public infrastructure, improvements, facilities and services to benefit certain undeveloped lands within the District (hereinafter, collectively, “2024 Project”) and has authorized its staff to begin work related to the issue of the 2024 Bonds; and

WHEREAS, Developer owns the undeveloped lands within the 2024 Assessment Area;
and

WHEREAS, Developer and the District desire to enter into this Agreement to provide funds to enable the District to commence work related to the issuance of the 2024 Bonds.

NOW THEREFORE, based upon good and valuable consideration and the mutual covenants of the Parties, the receipt of which and sufficiency of which are hereby acknowledged, the Parties agree as follows:

Incorporation of Recitals. The recitals stated above are true and correct and by this reference are incorporated herein as a material part of this Agreement.

Provision of Funds.	Developer agrees to make available to the District such
1

monies as are necessary to proceed with the issuance of the 2024 Bonds as follows:
Developer agrees to provide to the District any such monies upon receipt of an invoice from the District requesting such funds, as invoiced pursuant to an agreement or engagement letter approved by the District. Such funds, and all future funds provided pursuant to this Agreement, may be supplied by check, cash, wire transfer or other form of payment deemed satisfactory in the sole discretion of the District as determined by the District Manager. Developer authorizes the District to direct District staff, including the District Engineer, District Manager, Methodology Consultant, if applicable, the District Counsel and Bond Counsel and other professional assistance as may be necessary, to proceed with the work contemplated by this Agreement.

Developer and the District agree that all fees, costs or other expenses incurred by the District for the services of the District Engineer, District Manager, Methodology Consultant, if applicable, District Counsel and Bond Counsel or other professionals for the work contemplated by this Agreement shall be paid solely from the funds provided by Developer pursuant to this Agreement. Such payments shall be made in accordance with the District’s normal invoice and payment procedures. The District agrees that any funds provided by Developer pursuant to this Agreement shall be used solely for fees, costs, and expenses arising from or related to the work contemplated by this Agreement. Developer may be reimbursed for monies paid, as costs of issuance for the 2024 Bonds to the extent allowable under the 2024 Bonds’ bond documents and tax law.

Developer agrees to provide funds within fourteen (14) days of receipt of written notification from the District Manager of the need for such funds, and will pay the Cost of Issuance at the closing for the 2024 Bonds.

In the event that Developer fails to provide any such funds pursuant to this Agreement, Developer and the District agree the work may be halted until such time as sufficient funds are provided by Developer to ensure payment of the costs, fees or expenses which may be incurred in the performance of such work. The District may, in its discretion, place a lien on property (requiring payment as additional assessments) in the District owned by Developer, if such funds are not paid within ninety (90) days of the demand therefor.

Termination. Any of the Parties hereto may terminate this Agreement without cause by providing ten (10) days' written notice of termination. Any such termination by Developer is contingent upon Developer’s provision of sufficient funds to cover any and all fees, costs or expenses incurred by the District in connection with the work to be performed under this Agreement as of the date by when notice of termination is received.

Default. A default by any party under this Agreement shall entitle the other party

to all remedies available at law or in equity, which may include, but not be limited to, the right of damages.
Enforcement of Agreement. In the event that any of the Parties is required to enforce this Agreement by court proceedings or otherwise, then the prevailing party shall be entitled to recover all fees and costs incurred, including reasonable attorney’s fees and costs for trial, alternative dispute resolution, or appellate proceedings.

Agreement. This instrument shall constitute the final and complete expression of this Agreement between the Parties relating to the subject matter of this Agreement.

Amendments. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by all of the Parties hereto.

Authorization. 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.

Notices. All notices, requests, consents and other communications hereunder (“Notices”) shall be in writing and shall be 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 E. Livingston Street Orlando, Florida 32801 Attention: District Manager Telephone: (407) 841-5524 Email: jshowe@gmscfl.com

With a copy to:	Latham, Luna, Eden & Beaudine, LLP
201 South Orange Avenue, Suite 1400
Orlando, Florida 32801
Attention: Jan Albanese Carpenter, Esq. Telephone: (407) 481-5800
Email: jcarpenter@lathamluna.com

If to Developer:	Beachline South Residential, LLC
4901 Vineland Road, Suite 450
Orlando, Florida 32811 Attention: Nicole Swartz, Esq. Telephone: (407) 845-8191
Email: Nicole.Swartz@mattamycorp.com

With a copy to:	Shutts & Bowen LLP
300 South Orange Avenue, Suite 1600
Orlando, Florida 32801 Attention: Juli Simas James, Esq. Email: JJames@shutts.com

Except as otherwise provided herein, any Notice shall be deemed received only upon actual delivery at the address set forth herein. 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 the Parties may deliver Notice on behalf of the Parties. 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 five (5) days' written notice to the Parties and addressees set forth herein.

Third Party Beneficiaries. This Agreement is solely for the benefit of the formal Parties hereto and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or entity other than the Parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the Parties hereto and their respective representatives, successors and assigns.

Assignment. None of the parties hereto may assign this Agreement or any monies to become due hereunder without the prior written approval of the other parties. Any purported assignment without such prior written approval shall be void.

Controlling Law; Venue. This Agreement and the provisions contained herein shall be construed, interpreted, and controlled according to the laws of the State of Florida. Venue for any action arising hereunder shall be in a court of appropriate jurisdiction in Orange County, Florida.

Effective Date. The Agreement shall be effective after execution by all Parties hereto and shall remain in effect unless terminated by any of the Parties hereto.

Sovereign Immunity. Nothing contained herein shall cause or be construed as a waiver of the District’s sovereign immunity or limitations on liability granted pursuant to section 768.28, Florida Statutes, or other law, and nothing in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which could otherwise be barred under the Doctrine of Sovereign Immunity or by operation of law.

Public Records. The Developer understands and agrees that all documents of any kind provided to the District or to District Staff in connection with the work contemplated

under this Agreement are public records and are treated as such in accordance with Florida law.

[SIGNATURE PAGES TO FOLLOW]

5

COUNTERPART SIGNATURE PAGE TO THE BOND ISSUE FUNDING AGREEMENT BETWEEN DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT AND DEVELOPER
(SPECIAL ASSESSMENT REVENUE BONDS, SERIES 2024)

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the day and year first written above.

DISTRICT:

Attest:	DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT,
a Florida community development district

By:	
Secretary/Asst. Secretary	Print: Ralph Charles Bell
Title: Chairman of the Board of Supervisors

COUNTERPART SIGNATURE PAGE TO THE BOND ISSUE FUNDING AGREEMENT BETWEEN DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT AND DEVELOPER
(SPECIAL ASSESSMENT REVENUE BONDS, SERIES 2024)

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the day and year first written above.

DEVELOPER:

BEACHLINE SOUTH RESIDENTIAL, LLC, a
Florida limited liability company

By: Mattamy Orlando LLC, a Florida limited liability company, its Manager

By:	 Name: 	 Title: 	

Section V

RESOLUTION 2024-06

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT ACCEPTING THE CERTIFICATION OF THE DISTRICT ENGINEER THAT ASSESSMENT AREA ONE IS COMPLETE; DECLARING THE ASSESSMENT AREA ONE PROJECT COMPLETE; PROVIDING FOR SEVERABILITY, CONFLICTS, AND AN EFFECTIVE DATE.

WHEREAS, on June 15, 2017, the Board of Supervisors (“Board”) of the Dowden West Community Development District (“District”) adopted Resolution 2017-18 authorizing, among other things, the issuance of Dowden West Community Development District Special Assessment Revenue Bonds in an aggregate principal amount not-to-exceed $76,500,000 in order to finance the costs of the construction, installation, and acquisition of public infrastructure, improvements, and services on lands within the District; and

WHEREAS, the District authorized and issued the $6,170,000 “Dowden West Community Development District Special Assessment Revenue Bonds, Series 2018 (Assessment Area One Project)” (“Series 2018 Bonds”), pursuant to the Master Trust Indenture between the District and U.S. Bank National Association, as Trustee, dated November 1, 2018 (“Master Trust Indenture”) and the First Supplemental Trust Indenture between the District and U.S. Bank National Association, as Trustee, dated November 1, 2018 (“First Supplemental Indenture”), for the purpose of acquiring and constructing all or a portion of the District referred to as “Assessment Area One Project” and

WHEREAS, the District adopted the “Dowden West Community Development District Master Engineer’s Report” dated June 15, 2017, and the “Dowden West Community Development District Supplemental Engineer’s Report 2018” dated May 21, 2020, as amended from time to time (collectively, the “Engineer’s Report”), which identifies and describes the Capital Improvement Plan for Assessment Area One, financed with the Series 2018 Bonds (“Assessment Area One Project”); and

WHEREAS, the Assessment Area One Project has been completed; and

WHEREAS, pursuant to Section 5.01(c) of the Master Trust Indenture, the District Engineer executed and delivered an Engineer’s Certification of Completion dated January 18, 2024 (“Engineer’s Certification”), attached hereto as Exhibit “A,” wherein the District Engineer established the completion date of the Assessment Area One Project; and

WHEREAS, Section 170.08, Florida Statutes, requires that upon completion of the Assessment Area One Project, the District is to credit each of the assessments the difference, if any, between the amounts assessed and the actual cost of the improvements.

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

Recitals. The recitals are true and correct and are hereby incorporated into and form a material part of this Agreement.

Authority for this Resolution. This Resolution is adopted pursuant to the provisions of Florida law, including Chapters 170 and 190, Florida Statues.

Acceptance and Certification of Completion of the Assessment Area One Project. The Board hereby accepts the Engineer’s Certification and upon reliance thereon, certifies the Assessment Area One Project is complete in accordance with the Master Trust Indenture and First Supplemental Trust Indenture.

Final Assessments. The Board noticed and conducted a public hearing pursuant to Chapters 170, 190 and 197, Florida Statutes, and other applicable law, relating to the imposition, levy, collection and enforcement of special assessments and imposed and levied special assessments pursuant to Resolution Numbers 2018-03, 2018-04 and 2018-05. The amount of special assessments levied pursuant to Resolution 2018-05, adopted by the Board on September 6, 2018, was later revised to $6,170,000 by Resolution 2019-03, adopted by the Board on December 20, 2018 (“2018 Special Assessments”). The Engineer’s Certification indicates that the cost of the Assessment Area One Project was in excess of $6,170,000. The par amount of the 2018 Special Assessments does not exceed the Assessment Area One Project cost and the amount of benefits originally assessed, as required by Section 170.08, Florida Statutes.

Severability. If any section or part of a section of this Resolution is declared invalid or unconstitutional, the validity, force or effect of any other section or part of a section of this resolution shall not thereby be affected or impaired unless it clearly appears that such other section or part of a section of this resolution is wholly or necessarily dependent upon the section or part of a section so held to be invalid or unconstitutional.

Conflicts. All resolutions or parts thereof in conflict herewith are, to the extent of such conflict, superseded and repealed.

Effective Date. This resolution shall take effect immediately upon its adoption.

[SIGNATURE PAGE TO FOLLOW]

PASSED AND ADOPTED THIS 18TH DAY OF JANUARY, 2024.

ATTEST:	DOWDEN WEST COMMUNITY DEVELOPMENT DISTRICT

Secretary	By:	 Its:	

EXHIBIT A

ENGINEER’S CERTIFICATION DATED JANUARY 18, 2024 [ATTACHED BELOW]

ENGINEER'S CERTIFICATE

The undersigned representative of DEWBERRY ENGINEERS INC., as the designated engineer ("District Engineer") for the Dowden West Community Development District in connection with the $6,170,000 "Dowden West Community Development District Special Assessment Revenue Bonds, Series 2018" ("Series 2018 Bonds") hereby certify:

The District Engineer prepared the "Dowden West Community Development District Master Engineer's Report" dated June 15, 2017, and the "Dowden West Community Development District Supplemental Engineer's Report 2018" dated May 21, 2020, arn:enoecl from time to time (collectively, the "Engineer's Report"), which identifies and describes the public infrastructure deemed necessary for Assessment Area One, financed with the Series 2018 Bonds, referred to therein as the Capital Improvement Plan for Assessment Area One ("Assessment Area One Project"). Assessment Area One is identified in the Engineer's Report as Phases 1, 2, 3 and 4 in Exhibit F of the Engineer's Report and the total cost was anticipated to be $27,582,318.

The Assessment Area One Project has been substantially completed in accordance with the Engineer's Report with no substantial deviations.

Pursuant to Section 5.0l(c) of the Master Trust Indenture, the Completion Date is hereby established as of the date of this Certificate.

The final cost to complete the Assessment Area One Project, as described in the Engineer's Report, was in excess of $6,170,000.

Dewberry Engineers Inc.,
,,, ;P. :w,,,,,,	il;ft aa a;:en signed by

= :

i.*-\..-·.:  i*.

/f:••"....,,cENg/;j \	Reinardo Malave PE on the date
No 31588 •• ;.	adjacent to the seal, Printed copiess

•

o, •	of this document are not considered

By:

"''"'"  ••	signed and sealed and the signature

	,,:,-?.i: : ,..

->-«.j f...;•••'."l. o,!fi •;,;•k..,_ .,.------m",.,,''b,,...ev_erifi_,ed_on_,n.;_ye_leciro_o_lc

!Ii	20; 1.1114:30:21-05'00'

Name: Rey Malave

Title: Associate Vice President Dated: January 18, 2024

Engineer's Certificate of Completion

Section VI

Section A

NON-AD VALOREM ASSESSMENT ADMINISTRATION AGREEMENT

An AGREEMENT made this 1st day of October 2023 between AMY MERCADO as Orange County Property Appraiser (Property Appraiser) and, Dowden West CDD (Taxing Authority), and is effective upon acceptance by both parties and through, September 30, 2024.

The Taxing Authority desires to use the services of the Property Appraiser to maintain non-ad valorem assessments on the tax roll and the Property Appraiser is prepared to do so, on behalf of the Taxing Authority. Each party represents that it has satisfied all conditions precedent to enter into this agreement.

The Property Appraiser agrees to perform the following service for the Taxing Authority:
.	.
Create a Non-Ad Valorem Assessment Roll for tlie Taxing Authority for the 2024 tax roll year using
data provided annually to the Property Appraiser's Office by the Taxing Authority per attached Calendar for Implementation of Non- Ad Valorem Assessment Roll.

	Provide the Taxing Authority with a data file in a compatible format on or before April 1, containing all parcels within the boundaries of the Taxing Authority to be used for the Taxing Authority's planning purposes in establishing its non-ad valorem assessments.

	Receive from the Taxing Authority its proposed or adopted non-ad valorem assessment levy for each type of property and apply that amount to each parcel of real property as stipulated by Taxing Authority.

Include the Taxing Authority's non-ad valorem assessments on the Notice of Proposed Property Taxes and Proposed or Adopted Non-Ad Valorem Assessments mailed to all property owners in August of each year.

Receive from the Taxing Authority, corrections or changes to the roll and update the Non-Ad Valorem Assessment Roll for tax bills on or before September 15 of each year, the statutory deadline for certification of non-ad valorem assessments.

	Deliver the Taxing Authority's Non-Ad Valorem Assessment Roll to the Orange County Tax Collector's Office so that tax bills mailed on or about November 1 will include the Taxing Authority's non-ad valorem assessment levies.

Taxing Authority agrees to perform the following acts in connection with this agreement:

A Advise the property owners within the Taxing Authority in an appropriate and lawful manner of the Taxing Authority's intention to utilize the Uniform non- ad valorem assessment method described in Sections 197.3631 through 197.3635, Florida Statutes, and any othe·r applicable Florida statute, and carry out its responsibilities under said sections.

B. Timely provide the Property Appraiser with information required to prepare the Uniform Non-Ad Valorem Assessment Roll per the Calendar for Implementation of Non-Ad Valorem Assessment Roll.

C. Advise the property owners within the Taxing Authority as appropriate that the Property Appraiser's office is acting in a ministerial capacity for the Taxing Authority in connection with the non-ad valorem assessments.

D. Preparation and delivery of certificate of corrections directly to Tax Collector, with copy to Property Appraiser, for any corrections to a certified final tax r9II.

The Taxing Authority shall use its bes efforts in furnishing the Property Appraiser with up-to-date and accurate data concerning its boundaries, proposed assessments, and other information as requested from time to time by the Property Appraiser and necessary to facilitate his making the assessment in question. The Property Appraiser shall, using the information provided by the Taxing Authority, place the district's non-ad valorem assessments, as made from time to time and certified to him, on properties within the district.

The Property Appraiser shall be compensated by the Taxing Authority for the administrative costs incurred in carrying out this Agreement. These costs include, but are not limited to labor, printing, forms, office supplies, computer equipment usage, postage, programming, or any other associated costs.

On 1st day of October of each applicable year, the administrative fee will be invoiced to the Taxing Authority equivalent to ,SD. per parcel assessed with a non-ad valorem tax. Parcel counts supporting the invoiced fee will be determined based upon the most current certified non-ad valorem assessment roll. Any new assessments added to the tax roll that were not previously certified and invoiced an administrative fee, will be separately invoiced on or around July 15 and prior to mailing of the Notice of Proposed Property Taxes in August.

The specific duties to be performed under this agreement and their respective timeframes are contained in the Calendar for Implementation of Non-Ad Valorem Assessment Roll, which is incorporated herein by reference.

This agreement constitutes the entire agreement between the parties and can only be modified in writing and signed by both parties.

All parts of this Agreement not held unenforceable for any reason shall be given full force and effect.

All communications required by this agreement shall be in writing and sent by first class mail, email, or facsimile to the other party.

Notices to the Taxing Authority shall be addressed to;

Dowden West CDD
Jason Showe
Governmental Management Services
219 E. livingston Street Orlando, FL 32801 jshowe@govmgtsvc.com svanderbllt@grnscfl.com
(407)841-5524 xlOS

Notices to the Property Appraiser shall be addressed to:

Carmen Crespo, Director, Accounting and Finance Orange County Property Appraiser
200 S. Orange Ave.,·Suite 1700
Orlando, FL 32801 ccrespo@ocpafl.org
(407) 836-5353

TERMINATION. This Agreement may be terminated by either party upon written notice. Property Appraiser will perform no further work after the written termination notice is received.

TERM. This Agreement shall continue until such time as either party terminates the Agreement pursuant to Paragraph 11, above.
GOVERNING LAW; VENUE. This Agreement shall be governed by the laws of the State of Florida. Any action to interpret or enforce any provision of this Agreement shall be brought in the State and Federal courts for Orange County, Florida.

ORANGE COUNTY PROPERTY APPRAISER

signed

Date

 «ff;l,a--
Amy Mercdo(Nov 13.202316:05 EST}

AMY MERCADO, MBA
Nov 13, 2023

DOWDEN WEST CDD

CALENDAR FOR IMPLEMENTATION OF NON-AD VALOREM ASSESSMENTS

On or about April 1st, Property Appraiser to provide the Taxing Authority with an electronic file that includes parcel ID and any other information applicable or requested. Taxing Authority may request this file at any time after January 1st, but must understand that many splits/ combos, annexations, etc., may not be reflected early in the tax year and subsequent files may be necessary. If any additional information is required at any time by Taxing Authority, it should be requested of the Property Appraiser by Taxing Authority, allowing for a reasonable turnaround time. The file shall be in an ascii file, text or excel file, unless another format is requested and agreed upon between parties.

June 1

Property Appraiser distributes Best Estimate of Taxable Value to all Taxing Authorities.

July 1

Property Appraiser certifies Preliminary tax·ro11 to all taxing authorities.
Taxing Authority reviews all assessments and provides final approval for Notice of Proposed Property Taxes (TRIM)

July 15

Property Appraiser to invoice Administrative Fee for new parcels, if any, assessed and in excess of prior year certified non-ad valorem assessment roll parcel count.

August 4

The Taxing Authority adopts its proposed millage rate and submits to the Property Appraiser for TRIM.

August24

Last day Property Appraiser can mail TRIM notices to all property owners on the tax roll.

September 3 - October 3

Taxing Authority holds initial and final public budget hearing.

September 15

Taxing Authority certifies final non-ad valorem assessment roll to Property Appraiser on or before September 15 with any changes, additions, or deletions to the non-ad valorem assessment roll since the TRIM notices.

October

	Property Appraiser to mail Non-Ad Valorem Assessment Administration Agreement and invoice for non­ ad valorem assessment processing for subsequent tax roll, based upon most recent certified non-ad valorem assessment roll parcel count.
	Property Appraiser delivers the Taxing Authority non-ad valorem assessment roll to the Tax Collector for collection of taxes on November 1 tax bills.

Created:

2023-11-13

By:

Angela Rivera (arivera@ocpafl.org)

Status:

Signed

Transaction ID:

CBJCHBCAABAAmJf06d6MgfqHHbDw_D2tu6M6xdGZxbCm

OW OCPA
Final Audit Report	2023-11-13

"DW_OCPA" History
fl Document created by Angela Rivera (arivera@ocpafl.org)
2023-11-13 - 7:58:31 PM GMT

18'. Document emailed to Amy Mercado (Amy.Mercado@ocpafl.org) for signature
2023-11-13 - 8:00:42 PM GMT

'El Email viewed by Amy Mercado (Amy.Mercado@ocpafl.org)
2023-11-13 - 8:01:16 PM GMT

4t Document e-signed by Amy Mercado (Amy.Mercado@ocpafl.org)
Signature Date: 2023-11-13 - 9:05:04 PM GMT - Time Source: server

0	Agreement completed.
2023-11-13 - 9:05:04 PM GMT

fJAdobe Acrobat Sign

Section B

ClO(l<e
Clarke Environmental Mosquito Management, Inc. 2024 Midge Service Agreement I Dowden West CDD 8448 Compass Pt Ave, Orlando

Part I.
A.
B.
C.
D.
E.
F.

Part II.
A.

B.

Part Ill.

General Service
Computer System and Record Keeping Database Public Relations and Educational Brochures Mosquito Hotline Citizen Response - (800) 443-2034
Comprehensive Insurance Coverage Dowden West COD
Program Consulting and Quality Control Staff
Regulatory compliance on local, state, and federal levels

Larval Midge Control
Prescription Larval Control will be performed with OMRI (Organic Materials Review Institute) labeled Natular G30® mosquito/midge larvicide as described in the following sections.
The program provides for 12 monthly treatments of the 6 identified ponds as needed using OMRI labeled Natular G30® pellets, or an equivalent 30 day residual product. Treatments will be completed utilizing backpack equipment to cover a 15' perimeter zone around the edge of the lake to target Chironomidae or "edge midges."

Adult Midge Control

Adulticiding in midge harborage areas

44 scheduled ATVULV treatments around 6 ponds up to 2.9 miles using Duet® or synthetic pyrethroid insecticide scheduled weekly February - December.

Up to 10 miles backpack barrier treatments as needed to reduce re-infestation using a pyrethroid insecticide for residual control of adult mosquitoes.

Adulticiding Operational Procedures
Notification of community contact.
Weather limit monitoring and compliance.
ULV particle size evaluation.
Insecticide dosage and quality control analysis.

EMM Payment Total Cost for Parts I and II	$28,287/VAJ

**NPDES Permit: A National Pollutant Discharge Elimination System (NPDES) permit is necessary for the execution of the work for mosquito control effective October 31, 2011. Any additional costs associated with activities and/or services that may be required by Clarke in order to comply with an NPDES permit are not included in this proposal.

Clarke Environmental Mosquito Management, Inc. 2024 Midge Service Agreement I Dowden West COD 8448 Compass Pt Ave, Orlando

Program Payment Plan. For Parts I, II, and Ill as specified in the 2024 Professional Services Cost Outline, the total for the 2024 program is $28,287. The payments will be due
according to the payment schedule below. Dowden West CDD has the option to extend this program for 2025 Season.
PROGRAM PAYMENT PLAN

Month	2024	
1 January	$2,357.25	
1 February	$2,357.25	
1 March	$2,357.25	
1 April	$2,357.25	
1 May	$2,357.25	
lJune	$2,357.25	
1 July	$2,357.25	
1 August	$2,357.25	
1 September	$2,357.25	
1 October	$2,357.25	
1 November	$2,357.25	
1 December	$2,357.25	
TOTAL	$28,287.00	

Approved Contract Period and Agreement:
Please check one of the following contract periods:
024Season
□ 2024 - 2025 Seasons

en '

1	{;l,iii,e,cJ

If you would like to pay by credit card please provide the information to your control consultant. For Customer: Do

Sign Name: l+/ c.,,,--_ -"-"- ----	 Title:
I..

For Clarke Environmental Mosquito Management Inc.:

Date:	/ 2. oi .2o l-.3

Name:		Title:	Control Consultant	Date: Cherrief Jackson

Clarke Environmental Mosquito Management, Inc. 2024 Midge Service Agreement I Dowden West CDD 8448 Compass Pt Ave, Orlando

MAP:

Clarke Environmental Mosquito Management, Inc. 2024 Midge Service Agreement I Dowden West CDD 8448 Compass Pt Ave, Orlando

Administrative Information:
Invoices should be sent to:

Name:		

Address:					

City:		
State:	
Zip		

Office Phone:	
Fax:		

P.O.#		

Email:	County:	_
**In an effort to be more sustainable, we ask that you provide us with an Email address that the invoices should be sent to.**

Treatment Address (if different from above):

Address:

City:	State:	Zip

County:		

Contact Person for Dowden West CDD:

Name:	Title:

Office Phone:	Fax:	E-Mail:

Cl0fl(8'
Clarke Environmental Mosquito Management, Inc. 2024 Midge Service Agreement I Dowden West CDD 8448 Compass Pt Ave, Orlando

Home Phone:	Cell:	Pager:

Alternate Contact Person for Dowden West CDD

Name:					Title:		

Office Phone:			
Fax:				
E-Mail:		

Home Phone:		

	
Cell:				
Pager:		

Please sign and return a copy of the complete contract for our files to: Clarke Environmental Mosquito Management, Inc., Attn: Crystal Challacombe 3036 Michigan Avenue, Kissimmee, FL 34744; Fax number 407-944-0709

Section VII

Orange County Property Appraiser

Created: 12/28/2023 10:50 Aerial 2023, undefined	This map is for reference only and is not a survey

Section VIII

Section C

Section 1

Dowden West
Community Development District

Summary of Check Register

FY2024

Bank	Date	Check No.'s	Amount

General Fund	11/1-11/30	333-338	$	35,133.72

12/1-12/31	339-343	$	33,601.05

Total Amount	$	68,734.77

Page 11

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/09/24	PAGE	1
*** CHECK DATES 11/01/2023 - 11/30/2023 ***	DOWDEN WEST - GENERAL FUND
BANK A DOWDEN WEST-GF
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
11/10/23 00018 10/30/23 16741	202310 320-53800-47000	*	950.00
LAKE MAINTENANCE OCT23
AQUATIC WEED MANAGEMENT, INC.	950.00 000333
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/10/23 00014 11/01/23 ON 61099 202311 320-53800-46000	*	25,901.64 LANDSCAPE MAINT NOV23
YELLOWSTONE LANDSCAPE-SOUTHEAST LLC	25,901.64 000334
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/17/23 00006 11/09/23 2360713	202310 310-51300-31100	*	800.00
GENERAL ENGINEERING OCT23
DEWBERRY ENGINEERS, INC.	800.00 000335
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/17/23 00001 11/01/23 122	202311 310-51300-34000	*	3,343.67
MANAGEMENT FEES NOV23
11/01/23 122	202311 310-51300-35200	*	66.67
WEBSITE ADMIN NOV23
11/01/23 122	202311 310-51300-35100	*	100.00
INFORMATION TECH NOV23
11/01/23 122	202311 310-51300-31300	*	291.67
DISSEMINATION SVCS NOV23
11/01/23 122	202311 310-51300-51000	*	.33
OFFICE SUPPLIES NOV23
11/01/23 122	202311 310-51300-42000	*	6.99
POSTAGE NOV23
11/01/23 122	202311 310-51300-42500	*	18.60
COPIES NOV23
11/01/23 123	202311 320-53800-12000	*	1,391.25
FIELD MANAGEMENT NOV23
GOVERNMENTAL MANAGEMENT SERVICES-	5,219.18 000336
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/17/23 00002 11/15/23 122136	202310 310-51300-31500	*	1,530.00
GENERAL COUNSEL OCT23
LATHAM, LUNA, EDEN& BEAUDINE, LLP	1,530.00 000337
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/17/23 00014 11/10/23 OE 62174 202311 320-53800-47300	*	732.90
MAINLINE IRR REPAIR
YELLOWSTONE LANDSCAPE-SOUTHEAST LLC	732.90 000338
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK A	35,133.72
TOTAL FOR REGISTER	35,133.72

DOWD DOWDEN WEST	PPOWERS

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/09/24	PAGE	1
*** CHECK DATES 12/01/2023 - 12/31/2023 ***	DOWDEN WEST - GENERAL FUND
BANK A DOWDEN WEST-GF
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
12/07/23 00018 11/30/23 16896	202311 320-53800-47000	*	950.00
LAKE MAINTENANCE NOV23
AQUATIC WEED MANAGEMENT, INC.	950.00 000339
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/07/23 00014 11/28/23 OE 62602 202311 320-53800-47300	*	253.83
MAINLINE IRR REPAIR
12/01/23 OE 62860 202312 320-53800-46000	*	24,901.64 LANDSCAPE MAINT DEC23
YELLOWSTONE LANDSCAPE-SOUTHEAST LLC	25,155.47 000340
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/15/23 00001 12/01/23 124	202312 310-51300-34000	*	3,343.67
MANAGEMENT FEES DEC23
12/01/23 124	202312 310-51300-35200	*	66.67
WEBSITE ADMIN DEC23
12/01/23 124	202312 310-51300-35100	*	100.00
INFORMATION TECH DEC23
12/01/23 124	202312 310-51300-31300	*	291.67
DISSEMINATION SVCS DEC23
12/01/23 124	202312 310-51300-51000	*	.21
OFFICE SUPPLIES DEC23
12/01/23 124	202312 310-51300-42000	*	16.61
POSTAGE DEC23
12/01/23 125	202312 320-53800-12000	*	1,391.25
FIELD MANAGEMENT DEC23
GOVERNMENTAL MANAGEMENT SERVICES-	5,210.08 000341
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/22/23 00006 12/15/23 2373186	202311 310-51300-31100	*	945.00
GENERAL ENGINEERING NOV23
DEWBERRY ENGINEERS, INC.	945.00 000342
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/22/23 00002 11/15/23 122137	202310 310-51300-31500	*	408.00
CONVEYANCES OCT23
12/13/23 122622	202311 310-51300-31500	*	805.00
GENERAL COUNSEL NOV23
12/13/23 122623	202311 310-51300-31500	*	127.50
CONVEYANCES NOV23
LATHAM, LUNA, EDEN& BEAUDINE, LLP	1,340.50 000343
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK A	33,601.05
TOTAL FOR REGISTER	33,601.05

DOWD DOWDEN WEST	PPOWERS

Section 2

Dowden West
Community Development District

Unaudited Financial Reporting
December 31, 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	

11	
	Check Register	

Dowden West
Community Development District Combined Balance Sheet December 31, 2023

General
Fund

Debt Service
Fund

Capital Project
Fund

Total
Governmental Funds

Assets:
Cash:
Operating Account	

$	432,667	

$	

-	

$	

-	

$	432,667	
Investments:							
Series 2018 Reserve	
$	
-	$	209,945	$	-	$	209,945	
Revenue	$	-	$	46,519	$	-	$	46,519	
Interest	$	-	$	-	$	-	$	-	
Prepayment	$	-	$	-	$	-	$	-	
Construction	$	-	$	-	$	10,705	$	10,705	
Assessments Receivable	$	-	$	-	$	-	$	-	
Due from Developer	$	-	$	-	$	-	$	-	
Due from General Fund	$	-	$	146,579	$	-	$	146,579	
Prepaid Expenses	$	-	$	-	$	-	$	-	
Total Assets	$	432,667	$	403,042	$	10,705	$	846,414	

Liabilities:
Accounts Payable	

$	7,610	$	

-	$	

-	$	7,610	
Contracts Payable	$	-	$	-	$	-	$	-	
Deferred Revenue	$	-	$	-	$	-	$	-	
Due to Capital Projects	$	-	$	-	$	-	$	-	
Due to Debt Service	$	146,847	$	-	$	-	$	146,847	
Due to Developer	$	-	$	-	$	-	$	-	
Retainage Payable	$	-	$	-	$	-	$	-	
Total Liabilites	$	154,457  $	-	$	-	$	154,457	

Fund Balance:
Nonspendable:
Deposits and Prepaid Items	

$	-	$	

-	$	

-	$	-	
Restricted for:
Debt Service 2018	
$	
-	$	403,042	$	-	
$	403,042	
Capital Projects - Series 2018	$	-	$	-	$	10,705	$	10,705	
Unassigned	$	278,210	$	-	$	-	$	278,210	
Total Fund Balances	$	278,210	$	403,042	$	10,705	$	691,957	
					
Total Liabilities & Fund Balance	$	432,667	$	403,042	$	10,705	$	846,414	

Dowden West
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending December 31, 2023

Adopted	Prorated Budget	Actual	
Budget	Thru 12/31/23	Thru 12/31/23	Variance	

Revenues:

Assessments - Tax Roll Assessments - Direct Developer Contributions

$	645,975	$
$	324,303	$
$	300,000	$

223,933	$
162,152	$
-	$

223,933	$	-
162,152	$	-
-	$	-

Total Revenues	$	1,270,278	$	386,085	$	386,085	$	-	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	2,400	$	600	$	-	$	600	
FICA Expense	$	184	$	46	$	-	$	46	
Engineering	$	15,000	$	3,750	$	1,745	$	2,005	
Attorney	$	25,000	$	6,250	$	2,871	$	3,380	
Arbitrage	$	900	$	-	$	-	$	-	
Dissemination Fees	$	7,000	$	1,750	$	875	$	875	
Annual Audit	$	5,000	$	-	$	-	$	-	
Trustee Fees	$	8,100	$	1,010	$	1,010	$	-	
Assessment Administration	$	5,000	$	5,000	$	5,000	$	-	
Management Fees	$	40,124	$	10,031	$	10,031	$	(0)	
Information Technology	$	1,200	$	300	$	300	$	-	
Website Maintenance	$	800	$	200	$	200	$	(0)	
Telephone	$	300	$	75	$	-	$	75	
Postage	$	750	$	188	$	26	$	161	
Copies	$	750	$	188	$	19	$	169	
Insurance	$	6,886	$	6,886	$	6,197	$	689	
Legal Advertising	$	5,000	$	1,250	$	-	$	1,250	
Other Current Charges	$	2,000	$	500	$	123	$	377	
Office Supplies	$	500	$	125	$	1	$	124	
Property Appraiser	$	250	$	-	$	-	$	-	
Dues, Licenses & Subscriptions	$	175	$	175	$	175	$	-	
Total General & Administrative	$	127,319	$	38,323	$	28,573	$	9,751	

Dowden West
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending December 31, 2023

Adopted	Prorated Budget	Actual	
Budget	Thru 12/31/23	Thru 12/31/23	Variance	

Operations & Maintenance		
Contract Services
Field Management	
$	16,695	
$	4,174	
$	4,174	
$	-	
Landscape Maintenance	$	694,920	$	173,730	$	76,705	$	97,025	
Lake Maintenance	$	64,000	$	16,000	$	2,850	$	13,150	
Mitigation Monitoring	$	10,000	$	2,500	$	-	$	2,500	
Repairs & Maintenance
General Repairs & Maintenance	
$	2,500	
$	625	
$	-	
$	625	
Operating Supplies	$	500	$	125	$	-	$	125	
Landscape Replacement	$	10,000	$	2,500	$	5,073	$	(2,573)	
Irrigation Repairs	$	3,000	$	750	$	3,010	$	(2,260)	
Alleyway Maintenance	$	5,000	$	1,250	$	-	$	1,250	
Signage	$	3,500	$	875	$	-	$	875	
Utilities
Electric	
$	4,000	
$	1,000	
$	8,090	
$	(7,090)	
Water & Sewer	$	85,000	$	21,250	$	17,153	$	4,097	
Streetlights	$	203,844	$	50,961	$	15,781	$	35,180	
Other
Contingency	
$	25,000	
$	6,250	
$	-	
$	6,250	
Property Insurance	$	15,000	$	15,000	$	6,794	$	8,206	
Total Operations & Maintenance	$	1,142,959	$	296,990	$	139,629	$	157,361	
					
Total Expenditures	$	1,270,278	$	335,313	$	168,202	$	167,111	
					
Excess (Deficiency) of Revenues over Expenditures	$	-		$	217,883		
					
Fund Balance - Beginning	$	-		$	60,327		
					
Fund Balance - Ending	$	-		$	278,210		

Dowden West
Community Development District Debt Service Fund Series 2018
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending December 31, 2023

Adopted	Prorated Budget	Actual	
Budget	Thru 12/31/23	Thru 12/31/23	Variance	

Revenues:		
Assessments - Tax Roll	$	420,744	$	145,586	$	145,586	$	-	
Interest	$	-	$	-	$	4,739	$	4,739	
Total Revenues	$	420,744	$	145,586	$	150,326	$	4,739	

Expenditures:					
Interest - 11/1	$	156,619	$	156,619	$	156,619	$	-	
Principal - 5/1	$	105,000	$	-	$	-	$	-	
Interest - 5/1	$	156,619	$	-	$	-	$	-	
Total Expenditures	$	418,238	$	156,619	$	156,619	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	2,507		$	(6,293)		
					
Fund Balance - Beginning	$	188,757		$	409,336		
					
Fund Balance - Ending	$	191,263		$	403,042		

Dowden West
Community Development District Capital Projects Fund Series 2018
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending December 31, 2023

Adopted	Prorated Budget	Actual	
Budget	Thru 12/31/23	Thru 12/31/23	Variance	

Revenues

Interest	

$	

-	$	

-	$	141	

$	

141	
Total Revenues	$	-	$	-	$	141	$	141	

Expenditures:

Capital Outlay	

$	

-	$	

-	$	-	

$	

-	
Total Expenditures	$	-	$	-	$	-	$	-	
						
Excess (Deficiency) of Revenues over Expenditures	$	-	$	141			

Other Financing Sources/(Uses)

Transfer In/(Out)	

$	

-	$	

-	$	-	

$	

-	
Total Other Financing Sources (Uses)	$	-	$	-	$	-	$	-	
						
Net Change in Fund Balance	$	-	$	141			
						
Fund Balance - Beginning	$	-	$	10,564			
						
Fund Balance - Ending	$	-	$	10,705			

Dowden West
Community Development District Month to Month

Oct	Nov	Dec		Jan	Feb	March	April	May	June	July	Aug	Sept	Total	

Revenues:

Assessments - Tax Roll	$	-  $	17,082  $	

206,851	

$	

-  $	

-  $	

-  $	

-  $	

-  $	

-  $	

-  $	

-  $	

-  $	

223,933	
Assessments - Direct	$	162,152  $	-  $	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	162,152	
Developer Contributions	$	-  $	-  $	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Total Revenues	$	162,152	$	17,082	$	206,851	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  386,085	

Expenditures:		
General & Administrative:		
Supervisor Fees	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
FICA Expense	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Engineering	$	800	$	945	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	1,745	
Attorney	$	1,938	$	933	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	2,871	
Arbitrage	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Dissemination Fees	$	292	$	292	$	292	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	875	
Annual Audit	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Trustee Fees	$	1,010	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	1,010	
Assessment Administration	$	5,000	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	5,000	
Management Fees	$	3,344	$	3,344	$	3,344	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	10,031	
Information Technology	$	100	$	100	$	100	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	300	
Website Maintenance	$	67	$	67	$	67	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	200	
Telephone	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Postage	$	3	$	7	$	17	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	26	
Copies	$	-	$	19	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	19	
Insurance	$	6,197	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	6,197	
Legal Advertising	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Other Current Charges	$	38	$	38	$	47	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	123	
Office Supplies	$	0	$	0	$	0	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	1	
Property Appraiser	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Dues, Licenses & Subscriptions	$	175	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	175	
Total General & Administrative	$	18,963	$	5,744	$	3,865	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	28,573	

Dowden West
Community Development District Month to Month

Oct	Nov	Dec	Jan		Feb		March	April	May		June	July		Aug		Sept	Total	
Operations & Maintenance

Contract Services
Field Management	$	1,391  $	1,391  $	1,391  $		

-  $		

-  $	

-  $	

-  $		

-  $	

-  $		

-  $		

-  $		

-  $	4,174	
Landscape Maintenance	$	25,902  $	25,902  $	24,902  $		-  $		-  $	-  $	-  $		-  $	-  $		-  $		-  $		-  $	76,705	
Lake Maintenance	$	950  $	950  $	950  $		-  $		-  $	-  $	-  $		-  $	-  $		-  $		-  $		-  $	2,850	
Mitigation Monitoring	$	-  $	-  $	-  $		-  $		-  $	-  $	-  $		-  $	-  $		-  $		-  $		-  $	-	

Repairs & Maintenance
General Repairs & Maintenance	

$	-	

$	-	

$	-	

$		

-  $		

-  $	

-  $	

-  $		

-  $	

-  $		

-  $		

-  $		

-  $	-	
Operating Supplies	$	-	$	-	$	-	$		-  $		-  $	-  $	-  $		-  $	-  $		-  $		-  $		-  $	-	
Landscape Replacement	$	-	$	-	$	5,073	$		-  $		-  $	-  $	-  $		-  $	-  $		-  $		-  $		-  $	5,073	
Irrigation Repairs	$	436	$	987	$	1,587	$		-  $		-  $	-  $	-  $		-  $	-  $		-  $		-  $		-  $	3,010	
Alleyway Maintenance	$	-	$	-	$	-	$		-  $		-  $	-  $	-  $		-  $	-  $		-  $		-  $		-  $	-	
Signage	$	-	$	-	$	-	$		-  $		-  $	-  $	-  $		-  $	-  $		-  $		-  $		-  $	-	

Utilities
Electric	

$	126	

$	109	

$	7,855	

$		

-  $		

-  $	

-  $	

-  $		

-  $	

-  $		

-  $		

-  $		

-  $	8,090	
Water & Sewer	$	-	$	11,206	$	5,948	$		-  $		-  $	-  $	-  $		-  $	-  $		-  $		-  $		-  $	17,153	
Streetlights	$	7,838	$	7,832	$	110	$		-  $		-  $	-  $	-  $		-  $	-  $		-  $		-  $		-  $	15,781	

Other		
Contingency	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Property Insurance	$	6,794	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	6,794	

Total Operations & Maintenance	$	43,437	$	48,377	$	47,815	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $  139,629	
					
Total Expenditures	$	62,400	$	54,121	$	51,681	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $  168,202	
					
Excess Revenues (Expenditures)	$	99,751	$	(37,039)	$	155,170	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $  217,883	

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	
OPTIONAL REDEMPTION DATE:	5/1/2029	
RESERVE FUND DEFINITION	50% OF MAXIMUM ANNUAL DEBT 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)	
LESS: PRINCIPAL PAYMENT - 05/01/23	($100,000)	
CURRENT BONDS OUTSTANDING	$5,785,000	

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

Date	Requisition #		Contractor	Description	Requisition	
Fiscal Year 2023						
			TOTAL		$0.00	

Fiscal Year 2023						
10/1/22		Interest			$12.64	
11/1/22		Interest			$15.52	
12/1/22		Interest			$16.48	
1/1/23		Interest			$19.24	
2/1/23		Interest			$20.50	
3/1/23		Interest			$18.63	
4/1/23		Interest			$25.20	
5/1/23		Interest			$31.50	
6/1/23		Interest			$32.72	
7/1/23		Interest			$32.62	
8/1/23		Interest			$38.12	
9/1/23		Interest			$47.78	
			TOTAL		$310.95	
				
Project (Construction) Fund at 09/30/22	
$10,252.63	
				Interest Earned thru 09/30/23	$310.95	
				Requisitions Paid thru 09/30/23	$0.00	
				Remaining Project (Construction) Fund		$10,563.58 	

Date	

Requisition #		

Contractor	

Description	

Requisition	
Fiscal Year 2024						
			TOTAL		$0.00	

Fiscal Year 2024						
12/31/23		Interest			$141.14	
			TOTAL		$141.14	
				
Project (Construction) Fund at 09/30/23	
$10,563.58	
				Interest Earned thru 12/31/23	$141.14	
				Requisitions Paid thru 12/31/23	$0.00	
				Remaining Project (Construction) Fund		$10,704.72 	

Dowden West
Community Development District Special Assessment Receipt Schedule Fiscal Year 2024

ON ROLL ASSESSMENTS

Gross Assessments $ Net Assessments	$

687,207.60  $
645,975.14  $

447,600.00
420,744.00

$  1,134,807.60
$  1,066,719.14

60.56%	39.44%	100.00%
Date	Distribution	Distribution Period	Gross Amount	Commissions	Discount/Penalty	Interest	Net Receipts	O&M Portion	Series 2018	Total	

11/13/23	
#2	
10/21/23 - 11/01/23	
$9,708.89	
$0.00	
($388.35)	
$0.00	
$9,320.54	
$5,644.26	
$3,676.28	
$9,320.54	
11/28/23	#3	11/02/23 - 11/07/23	$19,674.11	$0.00	($786.95)	$0.00	$18,887.16	$11,437.53	$7,449.63	$18,887.16	
12/05/23	#4	11/08/23 - 11/15/23	$21,845.01	$0.00	($873.78)	$0.00	$20,971.23	$12,699.59	$8,271.64	$20,971.23	
12/12/23	#5	11/16/23 - 11/19/23	$81,554.69	$0.00	($3,262.20)	$0.00	$78,292.49	$47,411.73	$30,880.76	$78,292.49	
12/19/23	#6	11/20/23 - 11/22/23	$251,703.35	$0.00	($10,067.64)	$680.56	$242,316.27	$146,739.93	$95,576.34	$242,316.27	
							$0.00	$0.00	$0.00	$0.00	
							$0.00	$0.00	$0.00	$0.00	
							$0.00	$0.00	$0.00	$0.00	
							$0.00	$0.00	$0.00	$0.00	
							$0.00	$0.00	$0.00	$0.00	
							$0.00	$0.00	$0.00	$0.00	
		TOTAL	$	384,486.05	$	-	$	(15,378.92)	$	680.56	$	369,787.69	$  223,933.04	$	145,854.65	$	369,787.69	

35%
$  696,931.45

Net Percent Collected Balance Remaining to Collect

DIRECT BILL ASSESSMENTS

Mattamy Homes - Beachline South Residential 2024-01		
Net Assessments	
$324,303.01	
$324,303.01	
Date
Received	Due
Date	Check
Number	
Net Assessed	Amount
Received	Operations &
Maintenance	
10/18/23	11/1/23	38172	$162,151.51	$162,151.52	$162,151.52	
	2/1/24		$81,075.75	$0.00	$0.00	
	5/1/24		$81,075.75	$0.00	$0.00	
			$324,303.01	$162,151.52	$162,151.52