Rolling Oaks Community Development District Agenda August 22, 2024 August 15, 2024 Board of Supervisors Rolling Oaks Community Development District Dear Board Members: The meeting of the Board of Supervisors of Rolling Oaks Community Development District will be held Thursday, August 22, 2024, at 1:00 PM at Margaritaville Resort Orlando, 8000 Fins Up Circle, Kissimmee, Florida 34747. Following is the advance agenda for the meeting: Zoom Webinar Information: Link: https://us06web.zoom.us/j/85744403825 Webinar ID: 857 4440 3825 Call-in Number: 1-305-224-1968 1. Roll Call 2. Public Comment Period 3. Approval of Minutes of the May 23, 2024 Board of Supervisors Meeting 4. Public Hearing A. Consideration of Resolution 2024-05 Adopting the Fiscal Year 2025 Budget and Relating to the Annual Appropriations B. Consideration of Resolution 2024-06 Imposing Special Assessments and Certifying an Assessment Roll 5. Consideration of Fiscal Year 2025 Developer Deficit Funding Agreement 6. Consideration of Amended and Restated Declaration of Covenants, Easements & Restrictions for Sunset Walk Hotel Parcel 7. Consideration of Duke Energy Florida, LLC Easement 8. Consideration of Conveyance of Utility Assets 9. Consideration of Solitude Lake Management Contract Renewals 10. Review and Acceptance of Fiscal Year 2023 Audit Report 11. Staff Reports A. Attorney B. Engineer i. Review and Acceptance of Annual Engineer’s Report C. District Manager’s Report i. Adoption of District Goals and Objectives ii. Approval of Check Register iii. Balance Sheet and Income Statement iv. Approval of Fiscal Year 2025 Meeting Schedule 12. Supervisor’s Requests 13. Next Meeting Date – September 26, 2024 14. Adjournment MINUTES OF MEETING ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT The regular meeting of the Board of Supervisors of the Rolling Oaks Community Development District was held Thursday, May 23, 2024 at 1:00 p.m. at the Margaritaville Resort Orlando, 8000 Fins Up Circle, Kissimmee, Florida. Present and constituting a quorum were: John Chiste Chairman Jared Bouskila Vice Chairman via Zoom Peter Brown Assistant Secretary Steven Dougherty Assistant Secretary Also present were: Tricia Adams Manager Vivek Babbar Attorney via Zoom FIRST ORDER OF BUSINESS Roll Call Ms. Adams 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 March 28, 2024 Meeting On MOTION by Mr. Chiste seconded by Mr. Dougherty with all in favor the minutes of the March 28, 2024 meeting were approved as presented. FOURTH ORDER OF BUSINESS Consideration of Resolution 2024-03 Approving the Fiscal Year 2025 Proposed Budget and Setting a Public Hearing Ms. Adams stated Resolution 2024-03 approves the proposed fiscal year 2025 budget and sets the public hearing for August 22, 2024 at 1:00 p.m., authorizes staff to transmit the approved budget to the local government, post it on the district’s website and publish a notice in accordance with Florida Statutes. There is a proposed increase in assessments and that will require a mailed notice to all property owners. Ms. Adams reviewed the line items with proposed increases and the proposed increase for single family, condo, and apartments. Mr. Chiste requested that staff cut down on field expenses, remove the transfer to capital reserve and come up with a number for a developer contribution in order to keep the assessments level and eliminate a need for a mailed notice. On MOTION by Mr. Chiste seconded by Mr. Brown with all in favor Resolution 2024-03 Approving the Fiscal Year 2025 budget and Setting a Public Hearing for Final Adoption was approved as amended. FIFTH ORDER OF BUSINESS Consideration of Resolution 2024-04 Designating a Date, time and Location for the Landowners’ Election and Meeting On MOTION by Mr. Chiste seconded by Mr. Dougherty with all in favor Resolution 2024-04 designating November 21, 2024 as the landowner’ meeting date and election was approved. SIXTH ORDER OF BUSINESS Staff Reports A. Attorney Mr. Babbar stated the petition to expand the CDD boundaries was filed with the county. We are working with Supervisor Brown, they are requiring the CDD enter into an enhanced development agreement above their minimum land development codes, enhanced landscaping and road right of way improvements and things of that nature. Once we get over that hurdle, we should be able to get the county to set a hearing date. B. Engineer There being no comments, the next item followed. C. Manager i. Approval of Check Register On MOTION by Mr. Chiste seconded by Mr. Dougherty with all in favor the check register was approved. ii. Balance Sheet and Income Statement A copy of the balance sheet and income statement were included in the agenda package. iii. Presentation of Number of Registered Voters - 228 A copy of the letter from the supervisor of elections indicating that there are 228 registered voters residing in the district was included in the agenda package. iv. Reminder of Form 1 Filing Requirement Deadline July 1, 2024 Ms. Adams reminded the Board to file their Form 1’s. SEVENTH ORDER OF BUSINESS Supervisor’s Requests There being no comments, the next item followed. EIGHTH ORDER OF BUSINESS Next Meeting Date – June 27, 2024 Ms. Adams stated the next meeting will be held June 27, 2024 in the same location. NINTH ORDER OF BUSINESS Adjournment On MOTION by Mr. Chiste seconded by Mr. Brown with all in favor the meeting adjourned at 1:27 p.m. Secretary/Assistant Secretary Chairman/Vice Chairman RESOLUTION 2024-05 A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT ADOPTING A BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2024, AND ENDING SEPTEMBER 30, 2025; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the District Manager submitted, prior to June 15th, to the Board of Supervisors (“Board”) of the Rolling Oaks Community Development District (“District”) a proposed budget for the next ensuing budget year (“Proposed Budget”), along with an explanatory and complete financial plan for each fund, pursuant to the provisions of Sections 189.016(3) and 190.008(2)(a), Florida Statutes; WHEREAS, the District filed a copy of the Proposed Budget with the local governing authorities having jurisdiction over the area included in the District at least 60 days prior to the adoption of the Proposed Budget pursuant to the provisions of Section 190.008(2)(b), Florida Statutes; WHEREAS, the Board held a duly noticed public hearing pursuant to Section 190.008(2)(a), Florida Statutes; WHEREAS, the District Manager posted the Proposed Budget on the District’s website at least 2 days before the public hearing pursuant to Section 189.016(4), Florida Statutes; WHEREAS, the Board is required to adopt a resolution approving a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year pursuant to Section 190.008(2)(a), Florida Statutes; and WHEREAS, the Proposed Budget projects the cash receipts and disbursements anticipated during a given time period, including reserves for contingencies for emergency or other unanticipated expenditures during the fiscal year. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD: Section 1. Budget a. That the Board has reviewed the Proposed Budget, a copy of which is on file with the office of the District Manager and at the District’s records office, and hereby approves certain amendments thereto, as shown below. b. That the Proposed Budget as amended by the Board attached hereto as Exhibit A, is hereby adopted in accordance with the provisions of Section 190.008(2)(a), Florida Statutes, and incorporated herein by reference; provided, however, that the comparative figures contained in the adopted budget may be subsequently revised as deemed necessary by the District Manager to reflect actual revenues and expenditures for fiscal year 2023-2024 and/or revised projections for fiscal year 2024-2025. c. That the adopted budget, as amended, shall be maintained in the office of the District Manager and at the District’s records office and identified as “The Budget for the Rolling Oaks Community Development District for the Fiscal Year Beginning October 1, 2024, and Ending September 30, 2025.” d. The final adopted budget shall be posted by the District Manager on the District’s website within 30 days after adoption pursuant to Section 189.016(4), Florida Statutes. Section 2. Appropriations. There is hereby appropriated out of the revenues of the District (the sources of the revenues will be provided for in a separate resolution), for the fiscal year beginning October 1, 2024, and ending September 30, 2025, the sum of $_____________________, which sum is deemed by the Board to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated in the following fashion: Total General Fund $_________________ Total Reserve Fund [if Applicable] $_________________ Total Debt Service Funds $_________________ Total All Funds* $_________________ *Not inclusive of any collection costs or early payment discounts. Section 3. Budget Amendments. Pursuant to Section 189.016(6), Florida Statutes, the District at any time within the fiscal year or within 60 days following the end of the fiscal year may amend its budget for that fiscal year as follows: a. The Board may authorize an increase or decrease in line item appropriations within a fund by motion recorded in the minutes if the total appropriations of the fund do not increase. b. The District Manager or Treasurer may authorize an increase or decrease in line item appropriations within a fund if the total appropriations of the fund do not increase and if the aggregate change in the original appropriation item does not exceed $10,000 or 10% of the original appropriation. c. Any other budget amendments shall be adopted by resolution and be consistent with Florida law. This includes increasing any appropriation item and/or fund to reflect receipt of any additional unbudgeted monies and making the corresponding change to appropriations or the unappropriated balance. The District Manager or Treasurer must establish administrative procedures to ensure that any budget amendments are in compliance with this section and Section 189.016, Florida Statutes, among other applicable laws. Among other procedures, the District Manager or Treasurer must ensure that any amendments to budget(s) under subparagraph c. above are posted on the District’s website within 5 days after adoption pursuant to Section 189.016(7), Florida Statutes. Section 4. Effective Date. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board. Passed and Adopted on August 22, 2024. Attested By: Print Name: Secretary/Assistant Secretary Rolling Oaks Community Development District Print Name: Chair/Vice Chair of the Board of Supervisors Exhibit A: FY 2024-2025 Adopted Budget RESOLUTION 2024-06 A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT IMPOSING ANNUALLY RECURRING OPERATIONS AND MAINTENANCE NON-AD VALOREM SPECIAL ASSESSMENTS; PROVIDING FOR COLLECTION AND ENFORCEMENT OF ALL DISTRICT SPECIAL ASSESSMENTS; CERTIFYING AN ASSESSMENT ROLL; PROVIDING FOR AMENDMENT OF THE ASSESSMENT ROLL; PROVIDING FOR CHALLENGES AND PROCEDURAL IRREGULARITIES; APPROVING THE FORM OF A BUDGET FUNDING AGREEMENT; PROVIDING FOR SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Rolling Oaks Community Development District (“District”) is a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes for the purpose of providing, preserving, operating, and maintaining infrastructure improvements, facilities, and services to the lands within the District; WHEREAS, the District is located in Osceola County, Florida (“County”); WHEREAS, the Board of Supervisors of the District (“Board”) hereby determines to undertake various activities described in the District’s adopted budget for fiscal year 2024-2025 attached hereto as Exhibit A (“FY 2024-2025 Budget”) and incorporated as a material part of this Resolution by this reference; WHEREAS, the District must obtain sufficient funds to provide for the activities described in the FY 2024-2025 Budget; WHEREAS, the provision of the activities described in the FY 2024-2025 Budget is a benefit to lands within the District; WHEREAS, the District may impose non-ad valorem special assessments on benefited lands within the District pursuant to Chapter 190, Florida Statutes; WHEREAS, such special assessments may be placed on the County tax roll and collected by the local Tax Collector (“Uniform Method”) pursuant to Chapters 190 and 197, Florida Statutes; WHEREAS, the District has, by resolution and public notice, previously evidenced its intention to utilize the Uniform Method; WHEREAS, the District has approved an agreement with the County Property Appraiser (“Property Appraiser”) and County Tax Collector (“Tax Collector”) to provide for the collection of special assessments under the Uniform Method; WHEREAS, it is in the best interests of the District to proceed with the imposition, levy, and collection of the annually recurring operations and maintenance non-ad valorem special assessments on all assessable lands in the amount contained for each parcel’s portion of the FY 2024-2025 Budget (“O&M Assessments”); WHEREAS, the Board desires to collect the annual installment for the previously levied debt service non-ad valorem special assessments (“Debt Assessments”) in the amounts shown in the FY 2024-2025 Budget; WHEREAS, the District adopted an assessment roll as maintained in the office of the District Manager, available for review, and incorporated as a material part of this Resolution by this reference (“Assessment Roll”); WHEREAS, it is in the best interests of the District to certify a portion of the Assessment Roll on the parcels designated in the Assessment Roll to the Tax Collector pursuant to the Uniform Method and to directly collect a portion of the Assessment Roll on the parcels designated in the Assessment Roll through the direct collection method pursuant to Chapter 190, Florida Statutes; WHEREAS, it is in the best interests of the District to permit the District Manager to amend the Assessment Roll, including the property certified to the Tax Collector by this Resolution, as the Property Appraiser updates the property roll, for such time as authorized by Florida law; and WHEREAS, Rolling Oaks Splendid, LLC (“Developer”), as the developer of certain lands within the District, has agreed to fund (in addition to its portion of the O/M Assessments) Developer Contribution and Boundary Amendment Contributions of the revenues line items of the FY 2024-2025 Budget pursuant to a budget funding agreement. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD: Section 1. Benefit from Activities and O&M Assessments. The provision of the activities described in the FY 2024-2025 Budget confer a special and peculiar benefit to the lands within the District, which benefits exceed or equal the O&M Assessments allocated to such lands. The allocation of the expenses of the activities to the specially benefited lands is shown in the FY 2024-2025 Budget and in the Assessment Roll. Section 2. O&M Assessments Imposition. Pursuant to Chapter 190, Florida Statutes and procedures authorized by Florida law for the levy and collection of special assessments, the O&M Assessments are hereby imposed and levied on benefited lands within the District in accordance with the FY 2024-2025 Budget and Assessment Roll. The lien of the O&M Assessments imposed and levied by this Resolution shall be effective upon passage of this Resolution. Section 3. Collection and Enforcement of District Assessments. a. Uniform Method for certain Debt Assessments and certain O&M Assessments. The collection of the Debt Assessments and O&M Assessments on certain lands designated for collection using the Uniform Method as described in the Assessment Roll, shall be at the same time and in the same manner as County taxes in accordance with the Uniform Method. All assessments collected by the Tax Collector shall be due, payable, and enforced pursuant to Chapter 197, Florida Statutes. b. Direct Bill for Certain Debt Assessments. i. The Debt Assessments on undeveloped and unplatted lands will be collected directly by the District in accordance with Florida law, as set forth in the Assessment Roll. ii. Debt Assessments directly collected by the District are due in full on December 1, 2024; provided, however, that, to the extent permitted by law, the Debt Assessments due may be paid in several partial, deferred payments and according to the following schedule: 1. 50% due no later than December 1, 2024 2. 25% due no later than February 1, 2025 3. 25% due no later than May 1, 2025 iii. In the event that a Debt Assessment payment is not made in accordance with the schedule stated above, the whole Debt Assessment – including any remaining partial or deferred payments for Fiscal Year 2024-2025 as well as any future installments of the Debt Assessment – shall immediately become due and payable. Such Debt Assessment shall accrue interest (at the applicable rate of any bonds or other debt instruments secured by the Debt Assessment), statutory penalties in the amount of 1% per month, and all costs of collection and enforcement. Such Debt Assessment shall either be enforced pursuant to a foreclosure action, or, at the District’s sole discretion, collected pursuant to the Uniform Method on a future tax bill, which amount may include penalties, interest, and costs of collection and enforcement. iv. In the event a Debt Assessment subject to direct collection by the District shall be delinquent, the District Manager and District Counsel, without further authorization by the Board, may initiate foreclosure proceedings pursuant to Chapter 170, Florida Statutes or other applicable law to collect and enforce the whole assessment, as set forth herein. c. Direct Bill for Certain O&M Assessments. i. The O&M Assessments on certain lands (as designated for direct collection in the Assessment Roll) will be collected directly by the District in accordance with Florida law, as set forth in the Assessment Roll. ii. O&M Assessments directly collected by the District are due in full on December 1, 2024; provided, however, that, to the extent permitted by law, the O&M Assessments due may be paid in several partial, deferred payments and according to the following schedule: 1. 50% due no later than December 1, 2024 2. 25% due no later than February 1, 2025 3. 25% due no later than April 1, 2025 iii. In the event that an O&M Assessment payment is not made in accordance with the schedule stated above, the whole O&M Assessment may immediately become due and payable. Such O&M Assessment shall accrue statutory penalties in the amount of 1% per month and all costs of collection and enforcement. Such O&M Assessment shall either be enforced pursuant to a foreclosure action, or, at the District’s sole discretion, collected pursuant to the Uniform Method on a future tax bill, which amount may include penalties and costs of collection and enforcement. d. Future Collection Methods. The decision to collect special assessments by any particular method – e.g., on the tax roll or by direct bill – does not mean that such method will be used to collect special assessments in future years, and the District reserves the right in its sole discretion to select collection methods in any given year, regardless of past practices. Section 4. Certification of Assessment Roll. The Assessment Roll is hereby certified and authorized to be transmitted to the Tax Collector. Section 5. Assessment Roll Amendment. The District Manager shall keep apprised of all updates made to the County property roll by the Property Appraiser after the date of this Resolution and shall amend the Assessment Roll in accordance with any such updates, for such time as authorized by Florida law. After any amendment of the Assessment Roll, the District Manager shall file the updates to the tax roll in the District records. Section 6. Assessment Challenges. The adoption of this Resolution shall be the final determination of all issues related to the O&M Assessments as it relates to property owners whose benefited property is subject to the O&M Assessments (including, but not limited to, the determination of special benefit and fair apportionment to the assessed property, the method of apportionment, the maximum rate of the O&M Assessments, and the levy, collection, and lien of the O&M Assessments), unless proper steps shall be initiated in a court of competent jurisdiction to secure relief within 30 days from adoption date of this Resolution. Section 7. Procedural Irregularities. Any informality or irregularity in the proceedings in connection with the levy of the O&M Assessments shall not affect the validity of the same after the adoption of this Resolution, and any O&M Assessments as finally approved shall be competent and sufficient evidence that such O&M Assessment was duly levied, that the O&M Assessment was duly made and adopted, and that all other proceedings adequate to such O&M Assessment were duly had, taken, and performed as required. Section 8. Approving the Form of a Budget Funding Agreement with Developer. The Budget Funding Agreement between the District and Developer attached hereto as Exhibit B is hereby approved in substantial form. The Chair or the Vice-Chair of the Board are hereby authorized and directed to execute and deliver said agreement on behalf of and in the name of the District. Any additions, deletions or modifications may be made and approved by the Chair or the Vice-Chair and their execution of the agreement shall be conclusive evidence of such approval. Section 9. Severability. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof. Section 10. Effective Date. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board. Passed and Adopted on August 22, 2024. Attested By: Print Name: Secretary/Assistant Secretary Rolling Oaks Community Development District Print Name: Chair/Vice Chair of the Board of Supervisors Exhibit A: FY 2024-2025 Budget Exhibit B: Form of Budget Funding Agreement with Developer Exhibit C: Assessment Roll FY 2024-2025 Budget Funding Agreement (Rolling Oaks Community Development District) This FY 2024-2025 Budget Funding Agreement (this “Agreement”) is made and entered into as of August 22, 2024, between the Rolling Oaks Community Development District, a local unit of specialpurpose government, established pursuant to Chapter 190, Florida Statutes (the “District"), whose mailing address is 219 E. Livingston Street, Orlando, Florida 32801 and Rolling Oaks Splendid, LLC, a Florida limited liability company (the "Developer"), whose mailing address is One Town Center Rd, Suite 600, Boca Raton, Florida 33486. Recitals WHEREAS, the District was established for the purpose of providing, preserving, operating, and maintaining infrastructure improvements, facilities, and services to the lands within the District; WHEREAS, the District is adopting its budget for fiscal year 2024-2025 as attached hereto as Exhibit A (the “FY 2024-2025 Budget”), which commences on October 1, 2024, and concludes on September 30, 2025; WHEREAS, the District has the option of levying non-ad valorem assessments on all lands that will benefit from the activities set forth in the FY 2024-2025 Budget, and/or utilizing such other revenue sources as may be available to it; WHEREAS, the District is willing to allow the Developer to provide such funds as are necessary to allow the District to proceed with its activities as described the FY 2024-2025 Budget so long as payment is timely provided; WHEREAS, the Developer presently owns certain property within the District as reflected on the assessment roll on file with the District Manager (the “Property”); WHEREAS, the Developer agrees that the activities of the District described in the FY 2024-2025 Budget provide a special and peculiar benefit to the Property that is equal to or in excess of the expenses reflected in the FY 2024-2025 Budget; and WHEREAS, the Developer has agreed to enter into this Agreement in addition to the non-ad valorem special assessments allocated to the Property to fund the activities of the District as set forth in the FY 2024-2025 Budget. Operative Provisions 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: 1. Funding Obligations. From time to time during the 2024-2025 fiscal year, the Developer agrees to make available to the District the aggregate sum of up to $56,570 and $2,156 in accordance with the FY 2024-2025 Budget as such expenses are incurred by the District. Such payments shall be made within 30 days of written request for funding by the District. All funds provided hereunder shall be placed in the District's general operating account. 2. FY 2024-2025 Budget Revisions. The District and Developer agree that the FY 2024-2025 Budget shall be revised at the end of the 2024-2025 fiscal year to reflect the actual expenditures of the District for the period beginning on October 1, 2024, and ending on September 30, 2025. The Developer shall not be responsible for any additional costs other than those costs provided for in the FY 2024-2025 Budget. However, if the actual expenditures of the District are less than the amount shown in the FY 2024-2025 Budget, the Developer’s funding obligations under this Agreement shall be reduced by that amount. 3. Right to Lien Property. a. The District shall have the right to file a continuing lien (“Lien”) upon the Property for all payments due and owing under this Agreement and for interest thereon, and for reasonable attorneys’ fees, paralegals’ fees, expenses and court costs incurred by the District incident to the collection of funds under this Agreement or for enforcement of this Lien. In the event the Developer sells any portion of the Property after the execution of this Agreement, the Developer’s rights and obligations under this Agreement shall remain the same, provided however that the District shall only have the right to file a Lien upon the remaining Property owned by the Developer. b. The Lien shall be effective as of the date and time of the recording of a “Notice of Lien for the FY 2024-2025 Budget” in the public records of Osceola County, Florida, stating among other things, the description of the real property and the amount due as of the recording of the Notice, and the existence of this Agreement. c. The District Manager, in its sole discretion, is hereby authorized by the District to file the Notice on behalf of the District, without the need of further Board action authorizing or directing such filing. At the District Manager’s direction, the District may also bring an action at law against the record title holders to the Property to pay the amount due under this Agreement, may foreclose the Lien against the Property in any manner authorized by law, or may levy special assessments for the Lien amount and certify them for collection by the tax collector. 4. Default. A default by either party under this Agreement shall entitle the other to all remedies available at law or in equity, which shall include, but not be limited to, the right to seek specific performance of the Developer’s payment obligations under this Agreement, but shall not include special, consequential, or punitive damages. 5. Enforcement and Attorney Fees. In the event either party is required to enforce this Agreement, then the prevailing party shall be entitled to all fees and costs, including reasonable attorney’s fees and costs, from the non-prevailing party. 6. Governing Law and Venue. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida with venue in Osceola County, Florida. 7. Interpretation. This Agreement has been negotiated fully between the parties as an arm's length transaction. The parties participated fully in the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are each deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any party. 8. Termination of Agreement. The Agreement shall be effective upon execution by both parties hereto and shall remain in force until the end of the 2024-2025 fiscal year on September 30, 2025. The lien and enforcement provisions of this Agreement shall survive its termination, until all payments due under this Agreement are paid in full. 9. Third Parties. This Agreement is solely for the benefit of the 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 corporation 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 of 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. 10. 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 both of the parties hereto. 11. Assignment. This 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. 12. Authority. The execution of this Agreement has been duly authorized by the appropriate body or official of all parties hereto, each party has complied with all the requirements of law, and each party has full power and authority to comply with the terms and provisions of this instrument. 13. Entire Agreement. This instrument shall constitute the final and complete expression of this Agreement between the parties relating to the subject matter of this Agreement. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above. Rolling Oaks Splendid, LLC, a Florida limited liability company Name: Title: Rolling Oaks Community Development District Name: .Chair/.Vice-Chair of the Board of Supervisors Exhibit A: FY 2024-2025 Budget FY 2024-2025 Budget Funding Agreement (Rolling Oaks Community Development District) This FY 2024-2025 Budget Funding Agreement (this “Agreement”) is made and entered into as of August 22, 2024, between the Rolling Oaks Community Development District, a local unit of specialpurpose government, established pursuant to Chapter 190, Florida Statutes (the “District"), whose mailing address is 219 E. Livingston Street, Orlando, Florida 32801 and Rolling Oaks Splendid, LLC, a Florida limited liability company (the "Developer"), whose mailing address is One Town Center Rd, Suite 600, Boca Raton, Florida 33486. Recitals WHEREAS, the District was established for the purpose of providing, preserving, operating, and maintaining infrastructure improvements, facilities, and services to the lands within the District; WHEREAS, the District is adopting its budget for fiscal year 2024-2025 as attached hereto as Exhibit A (the “FY 2024-2025 Budget”), which commences on October 1, 2024, and concludes on September 30, 2025; WHEREAS, the District has the option of levying non-ad valorem assessments on all lands that will benefit from the activities set forth in the FY 2024-2025 Budget, and/or utilizing such other revenue sources as may be available to it; WHEREAS, the District is willing to allow the Developer to provide such funds as are necessary to allow the District to proceed with its activities as described the FY 2024-2025 Budget so long as payment is timely provided; WHEREAS, the Developer presently owns certain property within the District as reflected on the assessment roll on file with the District Manager (the “Property”); WHEREAS, the Developer agrees that the activities of the District described in the FY 2024-2025 Budget provide a special and peculiar benefit to the Property that is equal to or in excess of the expenses reflected in the FY 2024-2025 Budget; and WHEREAS, the Developer has agreed to enter into this Agreement in addition to the non-ad valorem special assessments allocated to the Property to fund the activities of the District as set forth in the FY 2024-2025 Budget. Operative Provisions 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: 1. Funding Obligations. From time to time during the 2024-2025 fiscal year, the Developer agrees to make available to the District the aggregate sum of up to $56,570 and $2,156 in accordance with the FY 2024-2025 Budget as such expenses are incurred by the District. Such payments shall be made within 30 days of written request for funding by the District. All funds provided hereunder shall be placed in the District's general operating account. 2. FY 2024-2025 Budget Revisions. The District and Developer agree that the FY 2024-2025 Budget shall be revised at the end of the 2024-2025 fiscal year to reflect the actual expenditures of the District for the period beginning on October 1, 2024, and ending on September 30, 2025. The Developer shall not be responsible for any additional costs other than those costs provided for in the FY 2024-2025 Budget. However, if the actual expenditures of the District are less than the amount shown in the FY 2024-2025 Budget, the Developer’s funding obligations under this Agreement shall be reduced by that amount. 3. Right to Lien Property. a. The District shall have the right to file a continuing lien (“Lien”) upon the Property for all payments due and owing under this Agreement and for interest thereon, and for reasonable attorneys’ fees, paralegals’ fees, expenses and court costs incurred by the District incident to the collection of funds under this Agreement or for enforcement of this Lien. In the event the Developer sells any portion of the Property after the execution of this Agreement, the Developer’s rights and obligations under this Agreement shall remain the same, provided however that the District shall only have the right to file a Lien upon the remaining Property owned by the Developer. b. The Lien shall be effective as of the date and time of the recording of a “Notice of Lien for the FY 2024-2025 Budget” in the public records of Osceola County, Florida, stating among other things, the description of the real property and the amount due as of the recording of the Notice, and the existence of this Agreement. c. The District Manager, in its sole discretion, is hereby authorized by the District to file the Notice on behalf of the District, without the need of further Board action authorizing or directing such filing. At the District Manager’s direction, the District may also bring an action at law against the record title holders to the Property to pay the amount due under this Agreement, may foreclose the Lien against the Property in any manner authorized by law, or may levy special assessments for the Lien amount and certify them for collection by the tax collector. 4. Default. A default by either party under this Agreement shall entitle the other to all remedies available at law or in equity, which shall include, but not be limited to, the right to seek specific performance of the Developer’s payment obligations under this Agreement, but shall not include special, consequential, or punitive damages. 5. Enforcement and Attorney Fees. In the event either party is required to enforce this Agreement, then the prevailing party shall be entitled to all fees and costs, including reasonable attorney’s fees and costs, from the non-prevailing party. 6. Governing Law and Venue. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida with venue in Osceola County, Florida. 7. Interpretation. This Agreement has been negotiated fully between the parties as an arm's length transaction. The parties participated fully in the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are each deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any party. 8. Termination of Agreement. The Agreement shall be effective upon execution by both parties hereto and shall remain in force until the end of the 2024-2025 fiscal year on September 30, 2025. The lien and enforcement provisions of this Agreement shall survive its termination, until all payments due under this Agreement are paid in full. 9. Third Parties. This Agreement is solely for the benefit of the 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 corporation 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 of 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. 10. 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 both of the parties hereto. 11. Assignment. This 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. 12. Authority. The execution of this Agreement has been duly authorized by the appropriate body or official of all parties hereto, each party has complied with all the requirements of law, and each party has full power and authority to comply with the terms and provisions of this instrument. 13. Entire Agreement. This instrument shall constitute the final and complete expression of this Agreement between the parties relating to the subject matter of this Agreement. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above. Rolling Oaks Splendid, LLC, a Florida limited liability company Name: Title: Rolling Oaks Community Development District Name: .Chair/.Vice-Chair of the Board of Supervisors Exhibit A: FY 2024-2025 Budget Prepared by: Duke Energy Florida, LLC Return to: Duke Energy Florida, LLC Attn: Land Services 3300 Exchange Place Lake Mary, Florida 32746 Parcel # Attached as Exhibit B Sunset Walk Condo Hotel 3151 Sunset Walk Drive Kissimmee, FL 34747 EASEMENT State of Florida County of Osceola THIS EASEMENT (“Easement”) is made this ____ day of _____________ 20____, from SUNSET WALK RESIDENCES, LLC, a Delaware limited liability company and ROLLING OAKS CDD, a local unit of special-purpose government organized and existing under the laws of the State of Florida, (“Grantor”, whether one or more), to DUKE ENERGY FLORIDA, LLC, a Florida limited liability company, Post Office Box 14042, St. Petersburg, FL 33733 (“Grantee”). Grantor, for and in consideration of the sum of One and 00/100 Dollar ($1.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, does hereby grant unto Grantee a perpetual easement, to construct, reconstruct, operate, patrol, maintain, repair, replace, relocate, add to, modify, and remove electric and communication lines including, but not limited to, all necessary supporting structures, and all other appurtenant apparatus and equipment for the transmission and distribution of electrical energy, and for technological purposes related to the operation of the electric facilities and for the communication purposes of Incumbent Local Exchange Carriers (collectively, “Facilities”). Grantor is the owner of that certain property described (“Property”). The Easement Area as being more particularly described and shown on the accompanying Exhibit “A”, Sketch of Description, as prepared by James L. Rickman, of Allen and Company., dated May 1, 2024, consisting of eight (8) pages, attached hereto and incorporated herein by this reference. The rights granted herein include, but are not limited to, the following: 1. Grantee shall have the right of ingress and egress over the Easement Area, Property, and any adjoining lands now owned or hereinafter acquired by Grantor (using lanes, driveways, and adjoining public roads where practical as determined by Grantee). 2. Grantee shall have the right to trim, cut down, and remove from the Easement Area, at any time or times and using safe and generally accepted arboricultural practices, trees, limbs, undergrowth, other vegetation, and obstructions. 3. Grantee shall have the right to trim, cut down, and remove from the Property, at any time or times and using safe and generally accepted arboricultural practices, dead, diseased, weak, dying, or leaning trees or limbs, which, in the opinion of Grantee, might fall upon the Easement Area or interfere with the safe and reliable operation of the Facilities. 4. Grantee shall have the right to install necessary guy wires and anchors extending beyond the boundaries of the Easement Area. 5. Grantee shall have the right to relocate the Facilities and Easement Area on the Property to conform to any future highway or street relocation, widening, or alterations. 6. Grantor shall not place, or permit the placement of, any structures, improvements, facilities, or obstructions, within or adjacent to the Easement Area, which may interfere with the exercise of the rights granted herein to Grantee. Grantee shall have the right to remove any such structure, improvement, facility, or obstruction at the expense of Grantor. 7. Excluding the removal of vegetation, structures, improvements, facilities, and obstructions as provided herein, Grantee shall promptly repair or cause to be repaired any physical damage to the surface area of the Easement Area and Property resulting from the exercise of the rights granted herein to Grantee. Such repair shall be to a condition which is reasonably close to the condition prior to the damage, and shall only be to the extent such damage was caused by Grantee or its contractors or employees. 8. Grantee may increase or decrease the voltage and change the quantity and types of Facilities. 9. All other rights and privileges reasonably necessary, in Grantee’s sole discretion, for the safe, reliable, and efficient installation, operation, and maintenance of the Facilities. The terms Grantor and Grantee shall include the respective heirs, successors, and assigns of Grantor and Grantee. The failure of Grantee to exercise or continue to exercise or enforce any of the rights herein granted shall not be construed as a waiver or abandonment of the right thereafter at any time, or from time to time, to exercise any and all such rights. TO HAVE AND TO HOLD said rights, privilege, and easement unto Grantee, its successors, licensees, and assigns, forever. The rights and easement herein granted are exclusive as to entities engaged in the provision of electric energy service. Grantor warrants and covenants that Grantor has the full right and authority to convey to Grantee this perpetual Easement, and that Grantee shall have quiet and peaceful possession, use and enjoyment of the same. IN WITNESS WHEREOF, Grantor has signed this Easement under seal effective this ____ day of ___________________, 2024. Witnesses: SUNSET WALK RESIDENCES, LLC Delaware limited liability company By: Rolling Oaks Splendid, LLC, a Florida limited liability company, its Sole Member ________________________________ By: Encore Housing Opportunity Fund II (Witness #1) General Partner, LLC, Printed Name _______________________ a Delaware limited liability company, Manager _________________________________ By: AF Encore Management, LLC, (Witness #2) a Florida limited liability company, Printed Name _________________________ Executive Managing Member By: Arthur J. Falcone, Manager Grantor(s) Mailing Address: 1 Town Center Road Suite 600 Boca Raton, Florida 33486 STATE OF _______________________ COUNTY OF _____________________ The foregoing instrument was acknowledged before me by means of . physical presence or . online notarization, this ____ day of ___________________, 2024 by Arthur J. Falcone, as Manager of AF Encore Management, LLC, a Florida limited liability company, the Executive Managing Member of Encore Housing Opportunity Fund II General Partner, LLC, a Delaware limited liability company, the Manager of Rolling Oaks Splendid, LLC, a Florida limited liability company, the Sole Member of Sunset Walk Residences, LLC, a Delaware limited liability company, on behalf of the companies. He . is personally known to me or . has produced _______________________ as identification. Image Notary Public: ___________________________ Printed/Typed Name: _____________________ Commission Expires: _____________________ This instrument prepared by Manny R. Vilaret, Esquire, 10901 Danka Circle Suite C, St. Petersburg, FL 33716. IN WITNESS WHEREOF, Grantor has signed this Easement under seal effective this ____ day of ___________________, 2024. Witnesses: ROLLING OAKS CDD a local unit of special-purpose government organized and existing under the laws of the State of Florida _________________________________ _______________________________________ (Witness #1) John Chiste, Chairman Printed Name _______________________ _________________________________ Grantor(s) Mailing Address: (Witness #2) Printed Name _________________________ STATE OF _______________________ COUNTY OF _____________________ The foregoing instrument was acknowledged before me by means of . physical presence or . online notarization, this ____ day of ___________________, 2024 by _________________, as title ___________________, of ROLLING OAKS CDD, a local unit of special-purpose government organized and existing under the laws of the State of Florida, on behalf of the Community Development District. He is personally known to me or has produced _____________________ as identification. Image Notary Public: ___________________________ Printed/Typed Name: _____________________ Commission Expires: _____________________ This instrument prepared by Manny R. Vilaret, Esquire, 10901 Danka Circle Suite C, St. Petersburg, FL 33716. MORTGAGEE JOINDER TO EASEMENT ACORE CAPITAL MORTGAGE, LP, a Delaware limited partnership, in its capacity as Administrative Agent for Lenders (“Mortgagee”) hereby certifies that it is the holder of (i) the Amended and Restated Mortgage, Assignment of Rents and Security Agreement executed by Sunset Walk Residences, LLC, a Delaware limited liability company (“Mortgagor”) and recorded in Official Records Book 6632, Page 1974; (ii) the Assignment of Leases and Rents recorded in Official Records Book 6632, Page 1999; (iii) the Assignment of Sales Contracts, Contract Deposits and Sale Proceeds recorded in Official Records Book 6632, Page 2014; (iv) the Collateral Assignment of Declarant’s Rights Under Condominium Documents recorded in Official Records Book 6632, Page 2030; and (v) the Collateral Assignment of Developer’s Rights recorded in Official Records Book 6632, Page 2042; all of the Public Records of Osceola County, Florida (collectively, the “Mortgage Documents”). The Mortgage Documents encumber a portion of the lands described in the foregoing Easement. Mortgagee hereby joins in and consents to the foregoing Easement, agrees that the Mortgage Documents and the lien thereof shall be subordinated to said Easement and agrees that said Easement shall bind and encumber the lands subject to said Easement which are encumbered by the Mortgage Documents. [SIGNATURE APPEARS ON FOLLOWING PAGE] WITNESSES: Witness #1 Witness #1 printed name Address: Witness #2 Witness #2 printed name Address: ACORE CAPITAL MORTGAGE, LP, a Delaware limited partnership, as Administrative Agent for Lenders By: ACORE Capital Mortgage GP, LLC, a Delaware limited liability company, its general partner By: Name: Title: STATE OF COUNTY OF The foregoing instrument was acknowledged before me, by means of . physical presence or . online notarization, this _____ day of ____________, 2024, by _______________________, as of ACORE Capital Mortgage GP, LLC, a Delaware limited liability company, the general partner of ACORE CAPITAL MORTGAGE, LP, a Delaware limited partnership, as Administrative Agent for Lenders. He/She is . personally known to me or has . produced ____________________________ as identification. _____________________________ Signature of Notary Public _____________________________ Name of Notary Typed, Printed or Stamped EXHIBIT “A” 04-25-27-5285-0001-00C0 04-25-27-5285-0001-00D0 04-25-27-5285-0001-00E0 04-25-27-5285-0001-00F0 04-25-27-5285-0001-00G0 04-25-27-5285-0001-00H0 04-25-27-5285-0001-00I0 04-25-27-5285-0001-00J0 04-25-27-5285-0001-00K0 04-25-27-5285-0001-00L0 04-25-27-5285-0001-00M0 04-25-27-5285-0001-00N0 04-25-27-5285-0001-00O0 04-25-27-5285-0001-00P0 04-25-27-5285-0001-00Q0 04-25-27-5285-0001-00R0 04-25-27-5285-0001-00S0 04-25-27-5285-0001-00T0 and portion of tract 04-25-27-5285-0001-010A BILL OF SALE 4872-6625-5547 v.2 149170/00006 (ROLLING OAKS PHASE 10) KNOW ALL MEN BY THESE PRESENTS: That the Rolling Oaks Community Development District, a local unit of special-purpose government established pursuant to the Uniform Community Development District Act of 1980, as codified in Chapter 190, Florida Statutes, having an address at c/o Governmental Management Services – Central Florida, LLC, 219 East Livingston Street, Orlando, Florida 32801 (the “Seller”), for and in consideration of the sum of Ten Dollars ($10.00) in lawful money (and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged) to it paid by the Tohopekaliga Water Authority, an independent special district, established and created pursuant to Chapter 189 Florida Statutes, by special act of the Florida Legislature, whose address is 951 Martin Luther King Blvd., Kissimmee, Florida 34741 (“Toho”), has granted, bargained, sold, transferred, set over and delivered, and by these presents does hereby grant, bargain, sell, transfer, set over and deliver unto Toho, its successors and assigns, all of Seller’s, rights, title and interests in and to the goods, chattels and personal property owned by Seller which are used or held for use by Seller exclusively in connection with those water and/or wastewater systems of Seller located on the real property described on Exhibit “A” attached hereto and incorporated herein by this reference, consisting of all water, wastewater, and reclaimed water lines and other related utility facilities (collectively the “Utility System”) constructed and used in connection with the provision of water, wastewater, and reclaimed water utility services. The assets being conveyed hereunder shall hereinafter be referred to as the “Utility Assets”. TO HAVE AND TO HOLD the same unto Toho, its successors and assigns to its and their own use and benefit forever, from and after the date hereof. Seller represents and warrants to Toho that (i) Seller is the sole owner of and has good and marketable title to the Utility Assets, free and clear of any liens; (ii) Seller has not previously sold or assigned the Utility Assets to any other party; and (iii) Seller will freely and fully warrant and defend the Utility Assets against the lawful claims of any person claiming by, through, or under the Seller. Seller hereby assigns any and all warranties and guaranties it possesses from any third parties relating to the construction and/or installation of the Utility Assets, to the extent such warranties and guaranties are assignable. [SIGNATURES TO FOLLOW ON NEXT PAGE] IN WITNESS WHEREOF, Seller has caused this instrument to be executed as of this _______ day of __________________________, 2024. WITNESSES: Print Name: Print Name: ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT, a local unit of special-purpose government established pursuant to the Uniform Community Development District Act of 1980, as codified in Chapter 190, Florida Statutes By: John Chiste, Chairman STATE OF FLORIDA COUNTY OF PALM BEACH The foregoing instrument was acknowledged before me by means of [X ] physical presence or [ ] online notarization, this ___ day of _____________, 2024, by John Chiste, as Chairman of the Board of Supervisors of the Rolling Oaks Community Development District, a local unit of special-purpose government established pursuant to the Uniform Community Development District Act of 1980, as codified in Chapter 190, Florida Statutes, and who has acknowledged that he has executed the same on behalf of the Rolling Oaks Community Development District. He is personally known to me. Notary Public Print Name: My Commission expires: My Commission No.: EXHIBIT “A” SKETCH & DESCRIPTION OF THE REAL PROPERTY BILL OF SALE 4865-4490-0795 v.2 149170/00006 (ROLLING OAKS PHASE 10) KNOW ALL MEN BY THESE PRESENTS: That SUNSET WALK RESIDENCES, LLC, a Delaware limited liability, having an address at One Town Center Road, Suite 600, Boca Raton, Florida 33486 (the “Seller”), for and in consideration of the sum of Ten Dollars ($10.00) in lawful money (and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged) to it paid by the Rolling Oaks Community Development District, a local unit of special-purpose government established pursuant to the Uniform Community Development District Act of 1980, as codified in Chapter 190, Florida Statutes, having an address at c/o Governmental Management Services – Central Florida, LLC, 219 East Livingston Street, Orlando, Florida 32801 (the “District”), has granted, bargained, sold, transferred, set over and delivered, and by these presents does hereby grant, bargain, sell, transfer, set over and deliver unto the District, its successors and assigns, all of Seller’s, rights, title and interests in and to the goods, chattels and personal property owned by Seller which are used or held for use by Seller exclusively in connection with those water and/or wastewater systems of Seller located on the real property described on Exhibit “A” attached hereto and incorporated herein by this reference, consisting of all water, wastewater, and reclaimed water lines and other related utility facilities (collectively the “Utility System”) constructed and used in connection with the provision of water, wastewater, and reclaimed water utility services. The assets being conveyed hereunder shall hereinafter be referred to as the “Utility Assets”. TO HAVE AND TO HOLD the same unto the District, its successors and assigns to its and their own use and benefit forever, from and after the date hereof. Seller represents and warrants to the District that (i) Seller is the sole owner of and has good and marketable title to the Utility Assets, free and clear of any liens; (ii) Seller has not previously sold or assigned the Utility Assets to any other party; and (iii) Seller will freely and fully warrant and defend the Utility Assets against the lawful claims of any person claiming by, through, or under the Seller. Seller hereby assigns any and all warranties and guaranties it possesses from any third parties relating to the construction and/or installation of the Utility Assets, to the extent such warranties and guaranties are assignable. [SIGNATURES TO FOLLOW ON NEXT PAGE] IN WITNESS WHEREOF, Seller has caused this instrument to be executed as of this _______ day of __________________________, 2024. Signed, sealed and delivered in the presence of: Witness Printed Name Witness Printed Name Sunset Walk Residences, LLC a Delaware limited liability company By: Rolling Oaks Splendid, LLC, a Florida limited liability company, its Sole Member By: Encore Housing Opportunity Fund II General Partner, LLC, a Delaware limited liability company, Manager By: AF Encore Management, LLC, a Florida limited liability company, Executive Managing Member By: Arthur J. Falcone, Manager STATE OF FLORIDA COUNTY OF PALM BEACH The foregoing instrument was acknowledged before me by means of [x] physical presence or [ ] online notarization, this _______ day of _____________ 2024, by Arthur J. Falcone, as Manager of AF Encore Management, LLC, a Florida limited liability company, Executive Managing Member of Encore Housing Opportunity Fund II General Partner, LLC, a Delaware limited liability company, Manager of Rolling Oaks Splendid, LLC, a Florida limited liability company, Sole Member of Sunset Walk Residences, LLC, a Delaware limited liability company. He is personally known to me. Notary Public Print Name: My Commission expires: My Commission No.: EXHIBIT “A” SKETCH & DESCRIPTION OF THE REAL PROPERTY Customer #: 01638880 Property Name: Margaritaville Resort Orlando Notice of 2024-2025 Budget Hello : Thank you for your budget request inquiry. An annual review of your account indicates that the cost of services for SOLitude Lake Management® requires an increase effective on your contract renewal date. This increase will allow SOLitude Lake Management® to dedicate the resources necessary to continue to maintain the waterway system in excellent condition. Contract Effective Date: October 1, 2024 through September 30, 2025. . Your pond maintenance contract will renew at an estimated 4% increase. Please use this as an estimated budget for the following: $2,152.32 Monthly $25,827.83 Annually . Your aeration maintenance contract will renew at an estimated 4% increase. Please use this as an estimated budget for the following: $665.15 Bi-Annual $1,330.31 Annually . Your water quality testing contract will renew at an estimated 4% increase. Please use this as an estimated budget for the following: $1,311.23 Quarterly $5,244.94 Annually . Your midge control contract will renew at an estimated 4% increase. Please use this as an estimated budget for the following: $1,200.36 Monthly $14,404.31 Annually The Company reserves the right to annually increase the amount charged for the services beyond the escalation percentage stated in the TERM AND EXPIRATION above, which shall be communicated by written notice to the Customer, which notice may be by invoice. We appreciate your business and look forward to more successful years ahead! (DM) / ( Lake OM) / (Fountain OM) Kevin Wilt Alan Wilson Andres Lopez kevin.wilt@solitudelake.com / alan.wilson@solitudelake.com / andres.lopez@solitudelake.com A close-up of a logo Description automatically generated Memorandum To: Board of Supervisors From: District Management Date: August 22, 2024 RE: HB7013 – Special Districts Performance Measures and Standards ________________________________________________________________________________ To enhance accountability and transparency, new regulations were established for all special districts, by the Florida Legislature, during their 2024 legislative session. Starting on October 1, 2024, or by the end of the first full fiscal year after its creation (whichever comes later), each special district must establish goals and objectives for each program and activity, as well as develop performance measures and standards to assess the achievement of these goals and objectives. Additionally, by December 1 each year (initial report due on December 1, 2025), each special district is required to publish an annual report on its website, detailing the goals and objectives achieved, the performance measures and standards used, and any goals or objectives that were not achieved. District Management has identified the following key categories to focus on for Fiscal Year 2025 and develop statutorily compliant goals for each: • Community Communication and Engagement • Infrastructure and Facilities Maintenance • Financial Transparency and Accountability Additionally, special districts must provide an annual reporting form to share with the public that reflects whether the goals & objectives were met for the year. District Management has streamlined these requirements into a single document that meets both the statutory requirements for goal/objective setting and annual reporting. The proposed goals/objectives and the annual reporting form are attached as exhibit A to this memo. District Management recommends that the Board of Supervisors adopt these goals and objectives to maintain compliance with HB7013 and further enhance their commitment to the accountability and transparency of the District. Exhibit A: Goals, Objectives and Annual Reporting Form Rolling Oaks Community Development District Performance Measures/Standards & Annual Reporting Form October 1, 2024 – September 30, 2025 1. Community Communication and Engagement Goal 1.1: Public Meetings Compliance Objective: Hold at least three regular Board of Supervisor meetings per year to conduct CDD related business and discuss community needs. Measurement: Number of public board meetings held annually as evidenced by meeting minutes and legal advertisements. Standard: A minimum of three board meetings were held during the Fiscal Year. Achieved: Yes . No . Goal 1.2: Notice of Meetings Compliance Objective: Provide public notice of meetings in accordance with Florida Statutes, using at least two communication methods. Measurement: Timeliness and method of meeting notices as evidenced by posting to CDD website, publishing in local newspaper and via electronic communication. Standard: 100% of meetings were advertised per Florida statute on at least two mediums (i.e., newspaper, CDD website, electronic communications). Achieved: Yes . No . Goal 1.3: Access to Records Compliance Objective: Ensure that meeting minutes and other public records are readily available and easily accessible to the public by completing monthly CDD website checks. Measurement: Monthly website reviews will be completed to ensure meeting minutes and other public records are up to date as evidenced by District Management’s records. Standard: 100% of monthly website checks were completed by District Management. Achieved: Yes . No . 2. Infrastructure and Facilities Maintenance Goal 2.1: Field Management and/or District Management Site Inspections Objective: Field manager and/or district manager will conduct inspections per District Management services agreement to ensure safety and proper functioning of the District’s infrastructure. Measurement: Field manager and/or district manager visits were successfully completed per management agreement as evidenced by field manager and/or district manager’s reports, notes or other record keeping method. Standard: 100% of site visits were successfully completed as described within district management services agreement Achieved: Yes . No . Goal 2.2: District Infrastructure and Facilities Inspections Objective: District Engineer will conduct an annual inspection of the District’s infrastructure and related systems. Measurement: A minimum of one inspection completed per year as evidenced by district engineer’s report related to district’s infrastructure and related systems. Standard: Minimum of one inspection was completed in the Fiscal Year by the district’s engineer. Achieved: Yes . No . 3. Financial Transparency and Accountability Goal 3.1: Annual Budget Preparation Objective: Prepare and approve the annual proposed budget by June 15 and final budget was adopted by September 30 each year. Measurement: Proposed budget was approved by the Board before June 15 and final budget was adopted by September 30 as evidenced by meeting minutes and budget documents listed on CDD website and/or within district records. Standard: 100% of budget approval & adoption were completed by the statutory deadlines and posted to the CDD website. Achieved: Yes . No . Goal 3.2: Financial Reports Objective: Publish to the CDD website the most recent versions of the following documents: Annual audit, current fiscal year budget with any amendments, and most recent financials within the latest agenda package. Measurement: Annual audit, previous years’ budgets, and financials are accessible to the public as evidenced by corresponding documents on the CDD’s website. Standard: CDD website contains 100% of the following information: Most recent annual audit, most recent adopted/amended fiscal year budget, and most recent agenda package with updated financials. Achieved: Yes . No . Goal 3.3: Annual Financial Audit Objective: Conduct an annual independent financial audit per statutory requirements and publish the results to the CDD website for public inspection, and transmit to the State of Florida. Measurement: Timeliness of audit completion and publication as evidenced by meeting minutes showing board approval and annual audit is available on the CDD’s website and transmitted to the State of Florida. Standard: Audit was completed by an independent auditing firm per statutory requirements and results were posted to the CDD website and transmitted to the State of Florida. Achieved: Yes . No . Chair/Vice Chair:____________________________ Date:________________ Print Name:_________________________________ Rolling Oaks Community Development District District Manager:____________________________ Date:________________ Print Name:_________________________________ Rolling Oaks Community Development District NOTICE OF MEETING DATES ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT The Board of Supervisors of the Rolling Oaks Community Development District will hold their regularly scheduled public meetings for Fiscal Year 2025 at 1:00 pm at the Margaritaville Resort Orlando, 8000 Fins Up Circle, Kissimmee, Florida 34747 on the fourth Thursday of each month as follows: October 24, 2024 Exception: November 21, 2024 - 3:00 pm January 23, 2025 February 27, 2025 March 27, 2025 April 24, 2025 May 22, 2025 June 26, 2025 July 24, 2025 August 28, 2025 September 25, 2025 The meetings are open to the public and will be conducted in accordance with the provisions of Florida Law for Community Development Districts. A copy of the meeting agenda may be obtained from the District Manager at 219 East Livingston Street, Orlando, Florida 32801. Additionally, interested parties may refer to the District’s website for the latest information: www.rollingoakscdd.com. The meeting may be continued to a date, time, and place as evidenced by motion of the majority of Board Members participating. There may be occasions when one or more Supervisors will participate by telephone. Any person requiring special accommodations at this meeting because of a disability or physical impairment should contact the District Office at (407) 841-5524 at least forty-eight (48) hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service 1-800-955-8770, for aid in contacting the District Office. Each person who decides to appeal any action taken at these meetings is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based. Tricia Adams Governmental Management Services – Central Florida, LLC District Manager