MINUTES OF MEETING WOODLAND CROSSING
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Woodland Crossing Community Development District was held Thursday, February 27, 2025, at 10:07 a.m. at the E C Rowell Public Library, 2810 CR-478A, Webster, Florida.

Present and constituting a quorum:

Milton Andrade	Chairman
Brian Walsh	Vice Chairman
Garret Parkinson	Assistant Secretary
Kareyann Ellison	Assistant Secretary Also present were:
Jill Burns	District Manager, GMS
Katie O’Rourke	GMS
Roy Van Wyk by Zoom	District Counsel, Kilinski Van Wyk
Chace Arrington by Zoom	District Engineer, Dewberry
Joey Duncan by Zoom	District Engineer, Dewberry
Ashton Bligh by Zoom	Bond Counsel, Greenberg Traurig

FIRST ORDER OF BUSINESS	Roll Call
Ms. Burns called the meeting to order at 10:07 a.m. and called roll. Four Supervisors were present constituting a quorum.

SECOND ORDER OF BUSINESS	Public Comment Period
Ms. Burns stated no members of the public were present.

THIRD ORDER OF BUSINESS	Organizational Matters
Acceptance of Resignation of Jeffrey Shenefield
Ms. Burns stated that they received a letter of resignation from Mr. Jeffrey Shenefield. She asked for a motion to accept the resignation.

On MOTION by Mr. Walsh, seconded by Mr. Andrade, with all in favor, the Acceptance of the Resignation of Jeffrey Shenefield was approved.

Appointment to Fill Vacant Board Seat #3
Ms. Burns announced the vacancy for Board Seat #3 and asked if anyone had any nominations. Mr. Walsh nominated Mr. Brent Elliott.

On MOTION by Mr. Walsh, seconded by Mr. Andrade, with all in favor, the Appointment to Fill Vacant Board Seat #3 with Brent Elliott, was approved.

Administration of Oath to Newly Appointed Supervisor
Ms. Burns stated that Mr. Elliott was not attending that day and they would swear him in at a later date.

Consideration of Resolution 2025-02 Appointing an Assistant Secretary
Ms. Burns stated this would appoint Mr. Brent Elliott as Assistant Secretary.

On MOTION by Mr. Walsh, seconded by Ms. Andrade, with all in favor, the Resolution 2025-02 Appointing Brent Elliott as an Assistant Secretary, was approved.

FOURTH ORDER OF BUSINESS	Approval of the Minutes of the September
19, 2024, Board of Supervisors Meetings
Ms. Burns presented the minutes from the September 19, 2024 Board of Supervisor meetings. She asked for any questions, comments, or corrections to those minutes. The Board had no changes to the minutes.

On MOTION by Mr. Andrade, seconded by Mr. Walsh, with all in favor, the Minutes of the September 19, 2024 Board of Supervisors Meeting, were approved.

FIFTH ORDER OF BUSINESS	Presentation and Approval of Amended
and Restated Engineer’s Report dated January 23, 2025
Ms. Burns asked Mr. Arrington to review the amended and restated Engineer’s Report dated January 23, 2025. Mr. Arrington instructed everyone to look at page #15 of the report in the

packet. He stated that this report was about the Community Development District, which contained approximately 154.69 acres and would consist of 534 residential lots. Mr. Arrington stated that they had estimated the cost of constructing the two phases for Woodland Crossing CDD to be
$22,611,270.00. Mr. Arrington noted that they had no reason to believe that the improvements couldn’t be instructed for the cost described in the report.
Mr. Van Wyk asked if the costs were reasonable for the improvements that were outlined in the report. Ms. Burns and Mr. Arrington answered yes.

On MOTION by Mr. Andrade, seconded by Mr. Walsh, with all in favor, the Amended and Restated Engineer’s Report dated January 23, 2025, was approved.

SIXTH ORDER OF BUSINESS	Presentation and Approval of Preliminary
Supplemental Assessment Methodology Report for Assessment Area One dated February 20, 2025
Ms. Burns stated that the next item was the Preliminary Supplemental Assessment Methodology Report for Assessment Area One dated February 20, 2025. Ms. Burns added that the supplemental report was based on the most recent bond sizing they had received from FMS, which would outline the series of bonds. She added that table #1 showed the Development Program. She noted that there were 296 lots in this assessment area. Table #2 shows the infrastructure cost estimates outlined in the Engineer’s report for the project. Table #3 revealed their estimated bond sizing of $14,165,000. Table #4 shows the improvement cost per unit for the single family 50’ and single family 60’ lots. Table #5 shows the par debt per unit. It was $44,997 for the 50’ lots and
$53,996 on the 60’ lots. Table #6 breaks down the net and gross annual debt per unit. Ms. Burns stated that the gross annual debt assessment collected on the Sumter County tax bill for the 50’ lots would be $3,422 and the 60’ lots are $4,106.39. Ms. Burns stated that table #7 showed their preliminary assessment roll. One landowner here has 93.42 acres in this assessment area. A legal description is attached as well.
Mr. Van Wyk asked Ms. Burns if she thought the cost of the improvements and the amount proposed lien on the parcels were equal to or greater than the benefit received by the construction of the improvement plan. Ms. Burns answered yes, it was. Mr. Van Wyk asked if it was her opinion

that the assessments set forth in her report were fairly and reasonably apportioned across the different product types. Ms. Burns replied yes.

On MOTION by Mr. Walsh, seconded by Mr. Andrade, with all in favor, the Preliminary Supplemental Assessment Methodology Report for Assessment Area One dated February 20, 2025, was approved.

SEVENTH ORDER OF BUSINESS	Consideration	of	Resolution	2025-01
Delegation Resolution (Series 2025 Bonds)
Ms. Bligh stated that this was Delegation Resolution 2025-01, a supplemental resolution contemplated when the Board adopted the original resolution in June 2024. This resolution contained documents as exhibits to sell one series of bonds to provide funds to pay all or a portion of the public infrastructure costs for 296 residential lots. Ms. Bligh added that attached to Schedule 1 is a list pulled from the Engineer’s Report they had previously approved. Ms. Bligh said that there were forms of a document attached to the resolution and that they were listed on page 3. She noted that the documents included a first supplemental indenture, a bond purchase contract, a preliminary limited offering memorandum, and Continuing Disclosure Agreement. Ms. Bligh stated a few items she wanted to point out: Florida Law requires specific findings, and you don’t have to make a public offering. Those findings are listed under Section 4 or Section 5 and were to include the parameters for the bonds, which included any optional redemption of what they call the Series 2025 Bonds, which will be determined at the pricing of the Series 2025 Bonds. The interest rate on these Series 2025 Bonds shall not exceed the maximum statutory rate. The aggregate principal amount of the series 2025 bonds shall not exceed $18,000,000.00. The series 2025 bonds will have final maturity not later than the maximum term allowed by Florida law, which is currently 30 years of principal amortization. Then, the price at which the series 2025 bonds shall be sold to the underwriters shall not exceed 98% of the aggregate face amount of the series 2025 bonds, exclusive of the original issue discount. Under section 9, you authorized the Chair, Secretary, or their respective designees to execute and deliver documents and instruments regarding the issuance of the Series 2025 bonds.

On MOTION by Mr. Walsh, seconded by Mr. Andrade, with all in favor, Resolution 2025-01 Delegation Resolution (Series 2025 Bonds), was approved.

EIGHTH ORDER OF BUSINESS	Consideration	of	Series	2025	Project
Ancillary Documents
True-Up Agreement
Mr. Van Wyk stated they had a series of ancillary documents to be used as part of the financing. He noted that many of these documents had been seen before and were pretty much the same. Mr. Van Wyk added that they would adjust these documents to reflect the landowner and/or developer project manager as they got closer to the actual financing. Mr. Van Wyk stated that some of the papers refer to Clayton Properties. We know there is a different landowner, and we’ll correct that as we go through them, but we’re asking for these approvals and substantial forms.
Mr. Van Wyk noted that the first agreement designates the developer landowner agreeing to make a true up payment. He said they had developed fewer ERUs than Jill had in her report, which had just been approved. Any combination of the size of lots, if you don’t exceed or as long as you're not under the assigned ERUs; if so, an actual payment could be required.

Completion Agreement
Mr. Van Wyk stated that this agreement said the landowner agrees to complete the project as outlined in the Engineer’s Report to the extent there are insufficient bond proceeds resulting from the bond issuance. Mr. Van Wyk added that the Engineer’s Report declaration of consent acknowledges that the landowner and developer recognize that the District is validly established, that they understand that there are assessments in place and that they won't challenge those assessments. In the future, all the procedures that were taken to get us to the bond issuance must follow the law's requirements.

Acquisition Agreement
Mr. Van Wyk stated that the acquisition agreement sets forth the procedures by which the District will acquire completed infrastructure, as indicated in the Engineers report. It talks about acquiring real property, the procedures for taking ownership, and the ultimate operations of the improvements.

Collateral Assignment Agreement
Mr. Van Wyk said the collateral assignment agreement just stated that to the extent there was a failure of the developer landowner to pay, they agreed to assign all their development rights to the bondholder and the District for the benefit of the bondholders so that we can complete the project as outlined in the Engineer’s Report.

Declaration of Consent
Mr. Van Wyk stated that the Declaration of Consent was an acknowledgment by the landowner and developer that the District is validly established and that they understand that there are assessments in place. They’re not going to challenge those assessments in the future. All the procedures that were taken to get them to the bond issuance have been done following the requirements of the law.

Notice of Special Assessments
Mr. Van Wyk stated that the Notice of Special Assessments, a document that needs to be recorded once we issue the bonds so that the public has knowledge and title companies will know that there is a special assessment in place of the bonds.
Mr. Van Wyk stated that if the Board had any questions, he could answer them with respect to the individual agreements. He added that they were looking for approval and substantial form and allowing the District staff and the District Chairman to execute those agreements as part of the bond issuance.

On MOTION by Mr. Andrade, seconded by Mr. Walsh, with all in favor, the Series 2025 Project Ancillary Documents, were approved in substantial form.

NINTH ORDER OF BUSINESS	Consideration of Letter for Underwriter
Services from FMS Bonds for Series 2025 Bonds
Ms. Burns stated this was just their engagement letter for this first series of bonds.

On MOTION by Mr. Walsh, seconded by Mr. Andrade, all in favor, the Letter for Underwriter Services from FMS Bonds for Series 2025 Bonds, was approved.

TENTH ORDER OF BUSINESS	Ratification of Notice of Commencement
Ms. Burns stated that this had authorized the site contractor, Hughes Brothers, to begin construction. Ms. Burns added that it had already been executed, and they sought a motion to ratify.

On MOTION by Mr. Walsh, seconded by Mr. Andrade, with all in favor, the Notice of Commencement, was ratified.

ELEVENTH ORDER OF BUSINESS	Ratification of Assignment of Contractor
Agreement for Phase 1
Ms. Burns stated that this agreement assigns the contract from Clayton Properties Group, who initially entered into that contract with Hughes Brothers, and assigns it to the CDD again, which has already been executed.

On MOTION by Mr. Andrade, seconded by Mr. Walsh, with all in favor, the Assignment of Contractor Agreement for Phase 1, was ratified.

TWELFTH ORDER OF BUSINESS	Staff Reports
Attorney
Mr. Van Wyk had nothing to report.
Engineer
Ms. Burns noted that there was nothing from the Engineer. .
District Manager’s Report
Ratification of Funding Requests #5 through #9
Ms. Burns noted that funding requests #5 and #9 have already been approved and funded and just need to be ratified by the Board.

On MOTION by Mr. Andrade, seconded by Ms. Ellison, with all in favor, Funding Requests #5 through #9, were ratified.

Balance Sheet & Income Statement
Ms. Burns asked for approval of the Balance Sheet & Income Statement.

Secretary/Assistant Secretary

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

FOURTEENTH ORDER OF BUSINESS	Supervisors	Requests	and	Audience
Comments
There being no comments, the next item followed.

FIFTEENTH ORDER OF BUSINESS	Adjournment
Ms. Burns asked the Board for adjournment.

On MOTION by Mr. Andrade , seconded by Ms. Ellison, with all in favor, the meeting was adjourned.

Chairman/Vice Chairman