Public Facilities Report

Rolling Oaks

Community Development District

August 1, 2016

By:	Governmental Management Services-Central Florida, LLC

District Manager

135 West Central Boulevard, Suite 320

Orlando, Florida  32801

Table on Contents

I.	Purpose and Scope

	ILGeneral Information

	III.Public Facilities

IV.	Proposed Expansion Over The Next Ten Years

V.	Replacement of Facilities

Public Facilities Report

Rolling Oaks Community Development District

August 1, 2016

I. Purpose and Scope

This report is provided at the request of Rolling Oaks Community Development District (the "District") as an obligation under Section 189.08 Florida Statutes regarding the Special District Public Facilities Report. It is the intention of this report to provide general descriptions of public facilities owned by the District together with any currently proposed facility expansion programs within the next 10 years. The Public Facilities Report and Annual Notice of any changes be submitted to the local government and posted on the District's website. This information shall be required in the initial report and updated every 7 years at least 12 months before the submission date of the evaluation and appraisal notification letter of the appropriate local government.

II.	Introduction

The District is a local unit of special purpose government of the State of Florida (the "State") created in accordance with the Uniform Community Development District Act of 1980, Florida Statutes, as amended (the "Act"), by Ordinance No. 2014-173, December 19, 2014. The District encompasses approximately 320.54 acres of land in Osceola County and will plan to build 900 vacation homes, 300 time-share units, and 150 condominiums. The Development is presently planned to also include a branded hotel, retail center, and a commercial water park

III.	Public Facilities

The District has constructed and/or acquired the facilities detailed in the Districts Engineer's Report which is attached as Exhibit A

IV.  Proposed Expansions over the Next Ten Years

The District has no plans to expand the facilities within the next 10 years.

V. Replacement of Public Facilities

There are currently no plans to replace the District's public facilities.

VI. Anticipated Completion Date

Unknown at this time.

Exhibit

A

Engineer's

Report

(,--

Exhibit

l

B

Rolling Oaks Community

Development District

Amended and Restated

Engineer's Report

\
J

Prepared

Community

for the Rolling O_aks Development District

Dave

Prepared By:
Schmitt Engineering

Validation Engineer's Report dated This Report dated March 10,

July 21, 2016

2015

INTRODUCTION

The

Development

Margarita Village is a mixed-use destination resort encompassing approximately 320.54		
acres of land  (the  "Development") in unincorporated  Osceola  County,  Florida.	A map		
identifying  the  general  location  of the	Development  and  a  legal  description  of  the		
boundaries of the	Development are attached hereto as	Exhibits A and B, respectively.		
					
The  Development  is  presently  planned  to  include	a  branded  hotel,  retail  center,  a		
commercial water park, time share units, apartments,			
homes.  The proposed land use plan within the		condominiums, and vacation rental		
	Development is summarized in Exhibit C		
attached hereto.						
								
Government Approvals							
The Development has a Tourist Commercial land use designation and a Commercial Tourist		
mixed-use zoning designation.	A Preliminary Subdivision Plan (PS14-00016 as revised)		
has been approved by the County (hereinafter defined) for the Development.  The status of		
various other	governmental approvals necessary for development of the Margarita Village		
project is provided in "PERMIT STATUS"	below.					

The

District

Pursuant to a petition filed by Rolling Oaks Splendid, LLC	(the "Developer"), the Rolling	
Oaks	Community  Development District  (the  "District"),  a	local  unit of special-purpose	
government, was established by Ordinance No. 2014-173 (the "Establishment Ordinance")	
adopted by the Board of County	Commissioners in and for  Osceola County, Florida (the	
"County"). The effective date of the Establishment		
		Ordinance was December 19, 2014.	

The  District  presently  encompasses  approximately  320.54  acres  of	
established for the					
purpose of, among other things, financing and managing	
construction,   maintenance	and	operation	of	major   infrastructure	
development  to  occur  within  the  District.   The  external  boundary  of	
coterminous with the boundary of the			
		Development described in Exhibit B.	

land  and  was	
the acquisition,	
necessary	for	
the  District	is	

On	February 25, 2016, the Board of			
		Supervisors for the  District (the "Board")  adopted		
Resolution No. 2016-_ directing District staff to file a petition with the County requesting		
passage of an ordinance amending the			
_	acres  of land.	boundary of the District to remove approximately		
		A metes  and  bounds legal	description  of the land to  remain in the		
contracted District boundary is			
			
		attached hereto as Exhibit D (the "Revised District Lands"		
and the contracted District boundary, the "Revised District Boundary").		

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(

Purpose of	this Restated Engineer's Report				
The	purpose  of this Amended and Restate Engineer's Report (the "Restated  Engineer's		
Report")  is	to  update  the	Engineer's Report dated	January  19,  2016,   (the  "Original		
Engineer's	Report"),  to  (i)	incorporate the  current			
			development  plan for  the  Revised		
							
District Lands, (ii) update the proposed infrastructure improvements and their costs, (iii)		
allocate the costs of the proposed infrastructure				
				improvements among the Revised District		
Lands and those lands within the Development that are being removed from the District		
(the "Removed Lands"), (iv) update the status of development and project construction,		
and	(v)	identify those infrastructure improvements to be funded with proceeds from the		
District's issuance of its Special Assessment Bonds, Series 2016 (the "Series 2016 Bonds").		
On July	27,	2015, the Circuit Court for the Ninth Judicial Circuit of the State of Florida, in		
and for Osceola County, Florida, issued its Final Judgment validating the District's authority		
to finance, fund, plan establish, acquire, construct or reconstruct, enlarge or extend, equip,		
operate and maintain the "Project," which project was defined in the Original Engineer's		
Report.	All  of the  infrastructure improvements	identified  in this  Restated  Engineer's		
R~port were also described in the Original Engineer's Report and, therefore, comprise a		
portion of the					
			"Project" validated in the Final judgment.		

LAND

USE

OF

REVISED

DISTRICT

LANDS

)	As stated above, the District currently		
		encompasses 320.54 acres of land; however, if		
	when the District's boundary is contracted by the County, the Revised District Lands		
	encompass 223.99 acres.	Table 1 below		
	Revised District Lands.	summarizes the current land use plan for		

and will the

Vacation Rental Homes

Time Shares
Condominiums

Total

193.99
15
15

223.99

CURRENT CONDITIONS

(	i

Topo9raphy

The topography within the Development consists of rolling terrain with a significant degree of topographical relief. The topography has been or will be altered where development is to occur.

Soils and wetlands

The soils drain very well, the groundwater table is typically well below the existing ground surface, and there are no regulated wetlands on-site.

Status of Construction

RESTATED CAPITAL IMPROVEMENT PLAN

This Restated Engineer's Report identifies the improvements necessary for effective and efficient development of the Revised District Lands, including roadways, water and reclaimed water distribution systems, wastewater collection systems, landscape, hardscape, recreation and park amenities, the undergrounding of utilities, the stormwater management system and associated professional fees. The following is a description of the improvements comprising the Restated Capital Improvement Plan.

Roadways

The District presently intends to finance, design, construct and/or acquire collector and neighborhood roadways within the Revised District Lands. The roadways will consist of subgrade, crushed concrete base, curbing, asphalt, striping, signage and sidewalks, as required by applicable Osceola County land development regulations.

Roadways internal to the Revised District Lands will connect into a collector road that extends from the northern Revised District Boundary to U.S. 192. The external roadway extension, relocation of a signal mast arm at the extension's connection with U.S. 192, and construction of a westbound turn lane on U.S. 192 into the Development have been or will be completed by the Developer at its expense. The estimated cost to complete the Developer funded roadway improvements is $3,201,000.00 . A site plan showing the District and Developer funded roadways is attached hereto as Exhibit E.

Ownership of and maintenance responsibility for roadways _within the Revised District Lands will be retained by the District; ownership and maintenance responsibility for the Developer funded extension and related improvements described in the preceding paragraph will be dedicated to the County for ownership and maintenance.

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(	Water, Wastewater and Reuse Improvements						
											
	The District is	within the Toho Water Authority ("Toho") potable water, wastewater and		
	reuse service area.  Toho has existing potable water, wastewater, and effluent reuse mains		
	in the right-of-way of U.S. 192 and Funie Steed Road that have sufficient capacity to serve		
	the Development at build-out							
	The District presently intends to finance, design, construct	and/or acquire	the  potable		
	water mains, wastewater gravity and force mains, lift stations, effluent reuse mains, and		
	appurtenances thereto in support of development on the Revised  District Lands.   The		
	water, wastewater and reuse improvements have been designed, permitted and will be		
	constructed in accordance with the approved Master Water and Wastewater Plans, the		
	County's land development regulations, and the rules and regulations  of Toho  and the		
	Florida Department of Environmental Protection.		·				
	In	order	to	connect  District  financed  and  constructed  water,  sewer	and	reuse		
	improvements within the Revised District Boundary to Toho mains in the right-of-way in		
	U.S.	192, the Developer has or will construct extensions for each of the services within the		
	roadway extension described above.  The	estimated cost to compete the Developer funded		
	water, wastewater and reuse extensions	is $11,882,639.20	.	A site plan showing the		
	District and  Developer funded  water, wastewater and reuse improvements	is  attached		
	hereto as Exhibit E.							
)	After completion, all water, wastewater and effluent reuse infrastructure will be dedicated		
	to Toho for ownership, operation and maintenance.						
	Stormwater Management Facilities							
	The master stormwater management system will be financed, designed and constructed by		
	the Developer	and/or the District in accordance with the Master Drainage Plan, which plan		
	has been permitted by the South Florida Water Management District.  The system will		
	consist primarily of a master stormwater management pond that	is interconnected and will		
	discharge	at	defined  natural  outfalls  throughout  the  Development  site.   The  master		
	stormwater management pond and discharge points are reflected in Exhibit E attached		
	hereto.									
	The  District has  obtained easement rights to  and  around	all	pipes,  ponds  and  swales		
	needed for operation and maintenance of the stormwater management system and to meet		
	all	permitting requirements.  The remaining swales/ponds will be incorporated into the		
	Development as amenities.							

Landscape

and

Hardscape

Landscape and hardscape along collector and neighborhood roadways within the Revised District Boundary will be financed, designed, constructed and/ or acquired by the District. Xeriscape landscape design principles will be utilized to minimize the need for irrigation water, and existing specimen trees will be preserved and relocated throughout the District.

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The cost estimate provided herein for landscape and hardscape was prepared by the landscape architect for the Development, $2,500,000.00.

In order to maintain the landscape and hardscape following completion, the District has or will obtain easement rights to and around the landscaped and hardscaped areas.

Recreation and Parks

Recreation and passive/active parks will be financed, designed, constructed, acquired and/or installed within the Revised District Boundary, which improvements will serve future residents of the District. The amenities are anticipated to include an extensive bike and pedestrian trail system and community pools and facilities. These amenities shall be accessible to the public and maintained by both the District and Rolling Oaks Splendid LLC

per an Interlocal Agreement By and Between the District and Rolling Oaks Splendid LLC Regarding the Joint Maintenance and Reciprocal Usage ofFacilities.

The recreation and park improvements are reflected in Exhibit E attached hereto.

Undergrounding of Other Utilities and Street Lights

As required by Osceola County land development regulations, utility conduits within the Revised District Boundary will be installed at the District's expense within the right-of-way of all collector roads. The electric utility provider, Duke Energy, will be responsible for

)	installing the electrical cable, switches, transformers, and street lighting, the latter of which will be the subject of a lease entered into by the District. Other local utility providers, including gas, phone and cable, will be responsible for installing their respective improvements.

Professional Fees

Professional fees include civil engineering costs for site design, permitting, inspection, survey costs for construction staking and as-built drawings, as well as geotechnical costs for pre-design soil borings, construction staking, and architectural· costs for landscape, hardscape and recreation design. Also included are fees associated with environmental consultation, permitting and other professional fees, including for District Counsel.

Contingency

This category includes the cost for adjustments as a result of unexpected field conditions, requirements of governmental agencies and other unknown factors that may occur throughout the course of development of lands in the Revised District Boundary. In general, the contingency amount is based on a percentage of the total infrastructure cost estimate.

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SERIES 2016 PROJECT

As of the date of this Restated Engineer's Report, the District intends to issue its Special Assessment Bonds, Series 2016 (the "Series 2016 Bonds"), in the estimated amount of $35,300,000, the proceeds of which will be used for the design, permitting, and acquisition/ construction of the improvements identified in Exhibit F attached hereto J(the "Series 2016 Project"). Costs to be incurred by the District to design, permit, and acquire/construct the Series 2016 Project, which costs are estimated in Exhibit G attached hereto, are reasonable and proper, and such project will benefit developable lands in the Revised District Boundary.

OWNERSHIP AND MAINTENANCE

Ownership and maintenance of the improvements within the Revised District boundary described herein is anticipated as set forth in the following Table 2.

	Proposed Infrastructure	Ownership	Maintenance		
	Im  rovement				
	Roadwa  s	District	District		
)	Water Distribution	Toho	Toho		
	Wastewater Collection	Toho	Toho		
	Reuse Distribution	Toho	Toho		
	Stormwater Mana  ement	District	District		
	Landsca  e and Hardsca  e	District			
	Recreation and Parks	District Develo	er		
	Street Li  hts	Duke Ener			

PERMIT STATUS

Permits for construction have been and continue to be required prior to construction of the Development, including that portion included in the Revised District Boundary. Exhibit H attached hereto identifies the permits necessary for the Development and their status as of the date of this Restatt:d Engineer's Report.

The District Engineer hereby certifies that all permits and approvals necessary to complete the Development have either already been obtained or will be obtained following the customary and normal permitting process.

SUMMARY OF ESTIMATED COSTS

The Summary of Estimated Costs, attached hereto as Exhibit G, outlines the anticipated costs associated with the design, permitting, construction and/or acquisition of the

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facilities and improvements to be funded by the District, which improvements benefit developable lands within the Revised District Boundary and are for a public purpose.

ENGINEER'S OPINION

It is my professional opinion that the Summary of Estimated Costs listed above is sufficient to complete the construction of the items described herein.

It is my professional opinion that the costs associated with the design, permitting, and construction/acquisition of the improvements described herein are reasonable to achieve completion and that such improvements will benefit lands within the Revised District Boundary. The planned improvements will be public and are set forth in Sections 190.012(1) and (2) of the Florida Statutes.

The Summary of Estimated Costs is only an estimate and not a guarantee maximum price. The estimated costs are based on unit prices currently being experienced for ongoing and similar items of work in Osceola County, Florida, and quantities as represented on construction plans.

The labor market, future costs of equipment and materials, increased regulatory actions and the actual construction process are all beyond the control of the District Engineer. Due to this inherent opportunity for a fluctuation in costs, the final cost of the improvements described herein may be more or less than the Summary of Estimated Costs.

Assuming project construction continues in a timely manner, it is our opinion that the proposed improvements, if constructed and built in substantial accordance with the approved plans and specifications, can be completed and meet their intended functions.

Where necessary, historical costs and information received from other professionals or consultants have been used in preparing this report. Professionals and consultants who have contributed in providing cost data incorporated in this report are reputable firms in or around Osceola County. It is therefore my opinion that construction of the proposed

i~mpleted at the cost stated.

Dave Schmitt, P.E.	{._
Florida Registered Engineer No.	4SZ7

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Exhibit A:

Exhibit B:

Exhibit C:

Exhibit D:

Exhibit E:

ExhibitF:

ExhibitG:

ExhibitH:

Vicinity Map of the Development	
Legal Description of the Boundaries of the Development	
Proposed Land Use Plan Within the Development	
LEGAL DESCRIPTION OF REVISED DISTRICT LANDS	
Site Plan for the Development	
(A)DISTRICT AND DEVELOPER FUNDED ROADWAYS	
(B)District and Developer Funded Water, Wastewater and Reuse	
(C)	Master Stormwater Pond and Discharge Points	
(D)	Recreation and Park Improvements	
Description of Series 2016 Project	
Summary of Estimated Costs	
Permit Status	

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