MIRA LAGO WEST COMMUNITY DEVELOPMENT DISTRICT

Transcription

1 MIRA LAGO WEST COMMUNITY DEVELOPMENT DISTRICT DISTRICT OFFICE 3434 COLWELL AVENUE SUITE 200 TAMPA, FLORIDA MIRA LAGO WEST COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS MEETING OCTOBER 5, 2015

2 MIRA LAGO WEST COMMUNITY DEVELOPMENT DISTRICT AGENDA OCTOBER 5, 2015 at 7:00 p.m. Sunset Grill at Little Harbor 602 Bahia Del Sol Blvd., Ruskin, Florida District Board of Supervisors Robert McCarthy Chairman Hector Ortiz Vice Chairman Debbie McGrory Assistant Secretary Jennifer Parra Assistant Secretary Simon Schmieder Assistant Secretary District Manager Sandy Oram Rizzetta & Company, Inc. District Attorney Scott Steady Burr Forman, LLP District Engineer Rick Schappacher Schappacher Engineering & Surveying, Inc. All cellular phones and pagers must be turned off while in the meeting room. The District Agenda is comprised of five different sections: The meeting will begin promptly at 7:00 p.m. with the first section which is called Audience Comments. The Audience Comments portion of the agenda is when individuals may comment on matters that concern the District. Each individual is limited to three (3) minutes for such comment. The Board of Supervisors or Staff is not obligated to provide a response until sufficient time for research or action is warranted. IF THE COMMENT CONCERNS A MAINTENANCE RELATED ITEM, THE ITEM WILL NEED TO BE ADDRESSED BY THE DISTRICT MANAGER OUTSIDE THE CONTEXT OF THIS MEETING. The second section is called Business Administration. The Business Administration section contains items that require the review and approval of the District Board of Supervisors as a normal course of business. The third section is called Business Items. The Business Items section contains items for approval by the District Board of Supervisors that may require discussion, motion and votes on an item-by-item basis. Occasionally, certain items for decision within this section are required by Florida Statute to be held as a Public Hearing. During the Public Hearing portion of the agenda item, each member of the public will be permitted to provide one comment on the issue, prior to the Board of Supervisors discussion, motion and vote. Agendas can be reviewed by contacting the Manager s office at (813) at least seven days in advance of the scheduled meeting. Requests to place items on the agenda must be submitted in writing with an explanation to the District Manager at least fourteen (14) days prior to the date of the meeting. The fourth section is called Staff Reports. This section allows the District Manager, Engineer, and Attorney to update the Board of Supervisors on any pending issues that are being researched for Board action. The final section is called Supervisor Requests. This is the section in which the Supervisors may request Staff to prepare certain items in an effort to meet residential needs. Public workshop sessions may be advertised and held in an effort to provide informational services. These sessions allow staff or consultants to discuss a policy or business matter in a more informal manner and allow for lengthy presentations prior to scheduling the item for approval. Typically no motions or votes are made during these sessions. Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this meeting is asked to advise the District Office at (813) , at least 48 hours before the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service at 1 (800) , who can aid you in contacting the District Office. Any person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that this same 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 the appeal is to be based.

3 MIRA LAGO WEST COMMUNITY DEVELOPMENT DISTRICT DISTRICT OFFICE 3434 COLWELL AVENUE SUITE 200 TAMPA, FL Board of Supervisors Mira Lago West Community Development District September 25, 2015 Dear Board Members: The regular meeting of the Board of Supervisors of Mira Lago West Community Development District will be held on Monday, October 5, 2015 at 7:00 p.m., at the Sunset Grill at Little Harbor, located at 602 Bahia Del Sol Blvd., Ruskin, Florida The following is the tentative agenda for this meeting: 1. CALL TO ORDER 2. AUDIENCE COMMENTS ON AGENDA ITEMS 3. BUSINESS ADMINISTRATION A. Consideration of Minutes of Board of Supervisors Meeting held on August 3, Tab 1 B. Consideration of Operation & Maintenance Expenditures for July and August 2015 Tab 2 4. BUSINESS ITEMS A. Consideration of Bond Underwriting Agreement with MBS Capital Markets (tabled from last meeting.).. Tab 3 B. MBS Presentation Regarding Bond Refunding (tabled from last meeting) C. Ratification of Proposals for the District s Insurance Renewal.Tab 4 5. STAFF REPORTS A. Aquatic Report Keith Remson 1. Consideration of Proposals for Aquatic Plantings (under separate cover) B. Landscape Report C. District Counsel D. District Engineer 1. Report Regarding Erosion Issue on the large pond....tab 6 E. District Manager 1. Presentation of Unaudited District Financial Statement for July Tab 7 6. SUPERVISOR REQUESTS 7. ADJOURNMENT I look forward to seeing you at the meeting. In the meantime, if you have any questions, do not hesitate to contact me at (813) Sincerely, Sandy Oram Sandy Oram District Manager

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5 MIRA LAGO WEST COMMUNITY DEVELOPMENT DISTRICT August 3, Minutes of Meeting Page 1 MINUTES OF MEETING Each person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that 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. MIRA LAGO WEST COMMUNITY DEVELOPMENT DISTRICT The regular meeting of the Board of Supervisors of the Mira Lago West Community Development District was held on Monday, August 3, 2015 at 7:00 p.m. at the Sunset Grill at Little Harbor, located at 602 Bahia Del Sol Boulevard, Ruskin, FL Present and constituting a quorum: Robert McCarthy Hector Ortiz Jennifer Parra Sam Schmieder Debbie McGrory Board Supervisor, Chairman Board Supervisor, Vice Chairman Board Supervisor, Assistant Secretary Board Supervisor, Assistant Secretary Board Supervisor, Assistant Secretary Also present were: Sandy Oram Rick Schappacher Keith Remson District Manager; Rizzetta & Company, Inc. District Engineer; Schappacher Engineering Remson Aquatics Audience Members FIRST ORDER OF BUSINESS Call to Order Ms. Oram called the meeting to order and read the roll call. SECOND ORDER OF BUSINESS Audience Comments There were no Audience comments. THIRD ORDER OF BUSINESS Consideration of Minutes of the Board of Supervisors Meeting held on June 1, 2015 On a Motion by Ms. Parra, seconded by Mr. Ortiz, with all in favor, the Board approved the minutes of the Board of Supervisors Meeting held on June 1, 2015 as presented for Mira Lago West Community Development District.

6 MIRA LAGO WEST COMMUNITY DEVELOPMENT DISTRICT August 3, Minutes of Meeting Page 2 FOURTH ORDER OF BUSINESS Consideration of Operation and Maintenance Expenditures for May June 2015 On a Motion by Mr. Ortiz, seconded by Mr. McCarthy, with all in favor, the Board ratified the Operation & Maintenance Expenditures for May 2015 totaling $8, and June 2015 totaling $8, for the Mira Lago West Community Development District. FIFTH ORDER OF BUSINESS Presentation Regarding Bond Refunding The Board tabled this item until the next meeting when Robbie Cox with MBS can attend. On a Motion by Ms. Parra, seconded by Mr. Schmieder, with all in favor, the Board tabled this item until the next meeting for the Mira Lago West Community Development District. SIXTH ORDER OF BUSINESS Consideration of Bond Disclosure Proposals The Board tabled this item until the next meeting when Robbie Cox with MBS can attend. On a Motion by Ms. Parra, seconded by Mr. Schmieder, with all in favor, the Board tabled this item until the next meeting for the Mira Lago West Community Development District. SEVENTH ORDER OF BUSINESS Public Hearing on Fiscal Year 2015/2016 Final Budget On a Motion by Ms. McGrory, seconded by Mr. Ortiz, with all in favor, the Board approved the Opening of the Public Hearing for the Final Budget for Fiscal Year 2015/2016 for the Mira Lago West Community Development District.

7 MIRA LAGO WEST COMMUNITY DEVELOPMENT DISTRICT August 3, Minutes of Meeting Page 3 EIGHTH ORDER OF BUSINESS Consideration of Resolution , Adopting Fiscal Year 2015/2016 Final Budget On a Motion by Mr. McCarthy, seconded by Ms. McGrory, with all in favor, the Board approved Resolution , Adopting the Final Budget for the Fiscal Year 2015/2016 for the Mira Lago West Community Development District. NINTH ORDER OF BUSINESS Consideration of Resolution , Imposing Special Assessments and Certifying an Assessment Roll On a Motion by Mr. Ortiz, seconded by Mr. Schmieder, with all in favor, the Board approved Resolution , Imposing Special Assessments and Certifying and Assessment Roll for the Mira Lago West Community Development District. On a Motion by Mr. Ortiz, seconded by Mr. Schmieder, with all in favor, the Board approved the closing of the Public Hearing for the Mira Lago West Community Development District. TENTH ORDER OF BUSINESS Consideration of Resolution , Setting the Meeting Schedule for Fiscal Year 2015/2016 On a Motion by Mr. McCarthy, seconded by Mr. Ortiz, with all in favor, the Board approved Resolution , Setting the Meeting Schedule for Fiscal Year 2015/2016 for the Mira Lago West Community Development District. ELEVENTH ORDER OF BUSINESS Consideration of Resolution , Reappointing Assistant Secretary

8 MIRA LAGO WEST COMMUNITY DEVELOPMENT DISTRICT August 3, Minutes of Meeting Page 4 On a Motion by Mr. Schmieder, seconded by Ms. McGrory, with all in favor, the Board approved Resolution , Reappointing Assistant Secretary, Sandy Oram for the Mira Lago West Community Development District. TWELFTH ORDER OF BUSINESS Staff Reports A. Aquatic Report- Keith Remson Ponds are in great condition mostly due to amount of rainfall that we have had. This cuts down greatly on algae. Pond #4 has a very large amount of fish. Keith recommended planting aquatic plants in the shallower ponds, he suggested Pickerelweed and Duck Potato. Keith explained that we cannot treat ponds in conservation areas or mitigation areas in response to a request by resident to treat for algae. Keith does have a permit to plant native aquatic plants in this area which will help with algae. Board requested Keith to present proposals to the board at next meeting for the planting of aquatic plants in various ponds. B. District Counsel Not present. C. District Engineer Rick Schappacher Rick reported on erosion problem on the large pond. He said that he walked the large pond and took pictures. He said this is a very large lake/pond with lots of waves. Due to the width and depth of this pond and the waves, we have some erosion problems. The erosion ranges from 12 to 18 vertical drop along bank. He feels that the easiest and most economical fix would be Rip Rap. It would hold up the best. The downside of Rip Rap is that snakes like to live in it. Also, putting stones around the edge would help with erosion. Rick would like to use a product called Geoweb on the really bad areas. He would fill the cells with a sand and rock mixture in the areas subject to waves and fill the upland cells with clean fill and then cover it with sod. Geotube bag is exposed and all the aquatic plants that were installed are gone, put in over 1,000 plants but the birds and the waves have destroyed them. Upon a question by the board, Rick explained that a seawall would be very expensive

9 MIRA LAGO WEST COMMUNITY DEVELOPMENT DISTRICT August 3, Minutes of Meeting Page 5 and in some communities they are not holding up very well. Mr. McCarthy said that it is very important that we get the pond looking good again. They have invested a lot of money and it s important to keep this up. Rick agreed that he wants to keep the appearance up. He will work with Keith Remson and other vendors and come up with some suggestions and quotes for the next meeting. Rick distributed a map that shows how all of the ponds interconnect. D. District Manager The next regularly scheduled meeting will be held on October 5, 2015 at 7:00 p.m. The Board requested that Ms. Oram check on the increase in the electricity bill. Check and see what hours the fountains are running. Mr. McCarthy will check timers for fountains and send information to include in next meeting notes. Ms. Oram to check and see if Architectural Fountains has raised their maintenance contract. THIRTEENTH ORDER OF BUSINESS Supervisor Requests Ms. Parra asked what hours the fountains are running. Mr. McCarthy will check timers for fountains and will send information to Ms. Oram to include in the next meeting notes. Mr. McCarthy asked Rick to find out if the CDD owns the wall around the pond and to report back at next meeting. FOURTEENTH ORDER OF BUSINESS Adjournment On a Motion by Ms. Parra, seconded by Mr. Schmieder, with all in favor, the Board adjourned the meeting at 8:15 p.m. for the Mira Lago West Community Development District. Secretary/Assistant Secretary Chairman/ Vice Chairman

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11 MIRA LAGO WEST COMMUNITY DEVELOPMENT DISTRICT DISTRICT OFFICE 3434 COLWELL AVENUE SUITE 200 TAMPA, FLORIDA Operation and Maintenance Expenditures July 2015 For Board Approval Attached please find the check register listing the Operation and Maintenance expenditures paid from July 1, 2015 through July 31, This does not include expenditures previously approved by the Board. The total items being presented: $11, Approval of Expenditures: Chairman Vice Chairman Assistant Secretary

12 Mira Lago West Community Development District Paid Operation & Maintenance Expenditures July 1, 2015 Through July 31, 2015 Vendor Name Check Number Invoice Number Invoice Description Invoice Amount Digital Assurance Certification, Annual Dissemination Services 2015 $ 1, LLC Mira Lago West HOA Landscape Shared Cost 07/15 $ 3, Remson Aquatics LLC Mitigation Maintenance $ 1, Remson Aquatics LLC Lake Maintenance 06/15 $ Rizzetta & Company, Inc District Management Fees 07/15 $ 3, Schappacher Engineering, LLC S14220 Engineer Services 06/15 $ Tampa Electric Co /15 Tampa Electric Co / St NW 06/15 $ York Dale Dr PMP #B - 06/15 $ Report Total $ 11,677.77

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22 MIRA LAGO WEST COMMUNITY DEVELOPMENT DISTRICT DISTRICT OFFICE 3434 COLWELL AVENUE SUITE 200 TAMPA, FLORIDA Operation and Maintenance Expenditures August 2015 For Board Approval Attached please find the check register listing the Operation and Maintenance expenditures paid from August 1, 2015 through August 31, This does not include expenditures previously approved by the Board. The total items being presented: $9, Approval of Expenditures: Chairman Vice Chairman Assistant Secretary

23 Mira Lago West Community Development District Paid Operation & Maintenance Expenditures August 1, 2015 Through August 31, 2015 Vendor Name Check Number Invoice Number Invoice Description Invoice Amount Deborah Lyn McGrory DM Board of Supervisors Meeting 08/03/15 $ Hector Ortiz HO Board of Supervisors Meeting 08/03/15 $ Jennifer Parra JP Board of Supervisors Meeting 08/03/15 $ Mira Lago West HOA Landscape Shared Cost 08/15 $ 3, Remson Aquatics LLC Lake Maintenance 07/15 $ Rizzetta & Company, Inc District Management Fees 08/15 $ 3, Robert J. McCarthy RM Board of Supervisors Meeting 08/03/15 $ Schappacher Engineering, LLC S14233 Engineer Services 07/15 $ Simon J. Schmieder SS Board of Supervisors Meeting 08/03/15 $ Tampa Bay Times /26/15 Legal Advertising 07/19/15-07/26/15 $ Tampa Electric Co /15 Tampa Electric Co / St NW 07/15 $ York Dale Dr PMP #B - 07/15 $ Report Total $ 9,638.09

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35 UNDERWRITING AGREEMENT MIRA LAGO WEST COMMUNITY DEVELOPMENT DISTRICT August 3, 2015 Board of Supervisors Mira Lago West Community Development District Dear Supervisors: MBS Capital Markets, LLC (the Underwriter ) offers to enter into this agreement (the Agreement ) with the Mira Lago West Community Development District (the District ) which, upon your acceptance of this offer, will be binding upon the District and the Underwriter. This agreement relates to the proposed issuance of bonds (the Bonds ) for the purpose of refunding the District s outstanding Series 2005 Bonds (the Prior Bonds ). 1. Scope of Services: The scope of services to be provided in a non-fiduciary capacity by the Underwriter for this transaction will include those listed below. o o o o o o o o o Advice regarding the structure, timing, terms, and other similar matters concerning the particular of municipal securities described above. Preparation of rating strategies and presentations related to the issue being underwritten. Preparations for and assistance with investor road shows, if any, and investor discussions related to the issue being underwritten. Advice regarding retail order periods and institutional marketing if the District decides to engage in a negotiated sale. Assistance in the preparation of the Preliminary Official Statement, if any, and the final Official Statement. Assistance with the closing of the issue, including negotiation and discussion with respect to all documents, certificates, and opinions needed for the closing. Coordination with respect to obtaining CUSIP numbers and the registration with the Depository Trust Company. Preparation of post-sale reports for the issue, if any. Structuring of refunding escrow cash flow requirements, but not the recommendation of and brokerage of particular municipal escrow investments WEST KENNEDY BLVD. SUITE 288 TAMPA, FLORIDA PHONE: LINCOLN AVENUE, WINTER PARK, FLORIDA PHONE: STRAWBERRY LANE LONGMONT, COLORADO PHONE: BRADFORD WAY KINGSTON, TENNESSEE PHONE:

36 2. Fees: No fees will be incurred with the execution of this Agreement. The underwriting fee for the sale or placement of Bonds is 1.5% of the principal amount of the Bonds or $50,000, whichever is greater. Such fee will be entirely contingent upon the successful sale and delivery or placement of the Bonds. The Underwriter will be responsible for its own out-of-pocket expenses with the exception of the fee for underwriter s or disclosure counsel, which shall not exceed $25,000 and shall be paid from the costs of issuance. No fees shall be due to the Underwriter if the District terminates this Agreement prior to the sale of the Bonds. 3. Termination: Both the District and the Underwriter will have the right to terminate this Agreement without cause upon written notice to the non-terminating party. 4. Purchase Contract: At or before such time as the District gives its final authorization for the Bonds, the Underwriter and its counsel, if any, will deliver to the District a purchase or placement contract setting forth its rights and duties in connection with such purchase or placement as well as detailing the terms of the Bonds. 5. Notice of Meetings: The District shall provide timely notice to the Underwriter for all regular and special meetings of the District. The District will provide, in writing, to the Underwriter, at least one week prior to any meeting, except in the case of an emergency meeting for which the notice time shall be the same as that required by law for the meeting itself, of matters and items for which it desires the Underwriter's input. 6. Disclosures Concerning the Underwriter s Role Required by MSRB Rule G-17. The Municipal Securities Rulemaking Board s Rule G-17 requires underwriters to make certain disclosures to issuers in connection with the issuance of municipal securities. Those disclosures are attached hereto as Exhibit A. By execution of this Agreement you are acknowledging receipt of the same. Tampa, FL Winter Park, FL Longmont, CO Kingston, TN

37 This Agreement shall be effective upon your acceptance hereof and shall remain effective until such time as the Agreement has been terminated in accordance with Section 3 hereof. By execution of this Agreement, you are acknowledging receipt of the MSRB Rule G-17 required disclosures attached hereto as Exhibit A. Sincerely, MBS Capital Markets, LLC Ed Bulleit Managing Partner Approved and Accepted By: Title: Date: Tampa, FL Winter Park, FL Longmont, CO Kingston, TN

38 EXHIBIT A Disclosures Concerning the Underwriter s Role (i) Municipal Securities Rulemaking Board Rule G-17 requires an underwriter to deal fairly at all times with both municipal issuers and investors; (ii) The Underwriter s primary role is to purchase securities with a view to distribution in an arm slength commercial transaction with the District and it has financial and other interests that differ from those of the District; (iii) Unlike a municipal advisor, the Underwriter does not have a fiduciary duty to the District under the federal securities laws and is, therefore, not required by federal law to act in the best interests of the District without regard to its own financial or other interests; (iv) The Underwriter has a duty to purchase securities from the District at a fair and reasonable price, but must balance that duty with its duty to sell municipal securities to investors at prices that are fair and reasonable; and (v) The Underwriter will review the official statement for the District s securities in accordance with, and as part of, its responsibilities to investors under the federal securities laws, as applied to the facts and circumstances of the transaction. Disclosure Concerning the Underwriter s Compensation Underwriter s compensation that is contingent on the closing of a transaction or the size of a transaction presents a conflict of interest, because it may cause the Underwriter to recommend a transaction that it is unnecessary or to recommend that the size of the transaction be larger than is necessary. Conflicts of Interest Payments to or from Third Parties. There are no undisclosed payments, values, or credits to be received by the Underwriter in connection with its underwriting of this new issue from parties other than the District, and there are no undisclosed payments to be made by the Underwriter in connection with this new issue to parties other than the District (in either case including payments, values, or credits that relate directly or indirectly to collateral transactions integrally related to the issue being underwritten). In addition, there are no third-party arrangements for the marketing of the District s securities. Profit-Sharing with Investors. There are no arrangements between the Underwriter and an investor purchasing new issue securities from the Underwriter (including purchases that are contingent upon the delivery by the District to the Underwriter of the securities) according to which profits realized from the resale by such investor of the securities are directly or indirectly split or otherwise shared with the Underwriter. Tampa, FL Winter Park, FL Longmont, CO Kingston, TN

39 Credit Default Swaps. There will be no issuance or purchase by the Underwriter of credit default swaps for which the reference is the District for which the Underwriter is serving as underwriter, or an obligation of that District. Retail Order Periods. For new issues in which there is a retail order period, the Underwriter will honor such agreement to provide the retail order period. No allocation of securities in a manner that is inconsistent with an District s requirements will be made without the District s consent. In addition, when the Underwriter has agreed to underwrite a transaction with a retail order period, it will take reasonable measures to ensure that retail clients are bona fide. Dealer Payments to District Personnel. Reimbursements, if any, made to personnel of the District will be made in compliance with MSRB Rule G-20, on gifts, gratuities, and non-cash compensation, and Rule G-17, in connection with certain payments made to, and expenses reimbursed for, District personnel during the municipal bond issuance process. Tampa, FL Winter Park, FL Longmont, CO Kingston, TN

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41 INSURANCE PROPOSAL PREPARED FOR: Mira Lago West CDD C/o Rizzetta & Co., Inc Colwell Ave Suite 200 Tampa, FL PRESENTED BY: Sandie Grimes Vice President 3939 Tampa Road Oldsmar, Florida Direct Phone: (813) Fax Phone: (813) Address: This presentation is designed to give you an overview of the insurance coverages we are offering for your company. It is meant only as a general understanding of your insurance needs and should not be construed as a legal interpretation of the insurance policies that will be written for you. Please refer to your specific insurance contracts for details on coverages, conditions and exclusions. This quote is good for 30 days. If there is an existing policy, the quote is good for 30 days or the expiration date of the current policy whichever comes first.

42 CLIENT SERVICE TEAM Service Team Member Contact Information Service/Responsibilities Sandie Grimes Account Executive Phone Fax Direct Line Total Account Coordination Total Program Implementation Stefanie Hotung, ACII, CRIS Account Manager Phone Fax Direct Line All policy servicing needs Policy Transactions Claims Reporting Contact Certificates of Insurance Auto ID Cards MVRs Wayne Jensen Director of Safety Phone Fax Direct Line People Safe Solutions TM Administration Oversees all Safety Program development and administration OSHA Challenge Administrator Stefanie R. HoTung, ACII, CRIS Commercial & Marketing Manager Phone Fax Direct Line Oversees all Commercial Lines policies and procedures. Maintains pertinent relationships with all underwriting markets. Manages the development, delivery and maintenance of all insurance, underwriting and claims services activities. Proposal of Insurance Page 2 of 7 9/14/2015 This insurance proposal is prepared as an outline of coverage only and should not be construed as an exact or complete analysis of the policies, nor as legal evidence of insurance. In the event of any claim under the policies, or questions regarding coverage, all terms, conditions and exclusions of the polices will prevail.

43 BOILER & MACHINERY INSURANCE PROPOSAL Term Writing Co 10/01/ /01/2016 Travelers Property Casualty Co. of America (Admitted) AM Best Rate: A++ XV COVERAGES LIMITS Total Limit Per Breakdown $1,000, Property Damage $367, Business Income Business Income extended Period of Restoration Extra Expense Extra Expense extended Period of Restoration Not Covered Not Covered Not Covered Not Covered Spoilage Damage $25,000 Coverage applies only if outage lasts at least: Utility Interruption Civil Authority Coverage Dependent Property 12 hours Not Covered Not Covered Not Covered Electronic Data or Media $25,000 Error in Description Included in Total Limit Expediting Expense: $25,000 Fungus, Wet Rot & Dry Rot Newly Acquired Locations: $15,000 BI not covered $1,000, days Ordinance or Law $25,000 Refrigerant Contamination: $25,000 Hazardous Substances: $25,000 Water Damage: $25,000 Conditional and Optional Coverages: Notice of Cancellation 60 Days 10 days for non-pay Proposal of Insurance Page 3 of 7 9/14/2015 This insurance proposal is prepared as an outline of coverage only and should not be construed as an exact or complete analysis of the policies, nor as legal evidence of insurance. In the event of any claim under the policies, or questions regarding coverage, all terms, conditions and exclusions of the polices will prevail.

44 Deductibles: Property Damage: $1,000 Business Income Extra Expenses Not Applicable Not Applicable Spoilage Damage $1,000 Utility Interruption Dependent Properties Not Applicable Not Applicable Refrigerant Contamination $1,000 FORMS: IL T IL T IL T IL T EB T EB T EB T BMT EB T EB T EB T IL T IL IL Common Policy Declarations Forms, Endorsements and Schedule Numbers Common Policy Conditions Location Schedule Energymax 21 Equipment Breakdown Protection Declarations Energymax 21 EB Table of Contents Energymax 21 Equip Breakdown Protection Federal Terrorism Risk Insurance Act Disclosure Spec Perils Elimination Endorsement Green Coverage Enhancements FL Coinsurance, Loss Pay, Named Insured Cap on Losses From Cert Acts of Terror FL Changes Legal Action Against Us Florida Changes Canc and Nonrenew ANNUAL PREMIUM: Total Premium - $ Proposal of Insurance Page 4 of 7 9/14/2015 This insurance proposal is prepared as an outline of coverage only and should not be construed as an exact or complete analysis of the policies, nor as legal evidence of insurance. In the event of any claim under the policies, or questions regarding coverage, all terms, conditions and exclusions of the polices will prevail.

45 PUBLIC OFFICIALS LIABILITY INSURANCE PROPOSAL Term Writing Co 10/01/ /01/2016 Aspen American Insurance Company (Admitted) AM Best Rate: A XV Occurrence/Claims Made: Form: General Coverage Information Claims Made NFP Management Liability POL Coverage/Limits Option 1 Option 2 D&O: Limit: $1,000,000 $2,000,000 Retention: $2,500 $2,500 EPL: Limit: $1,000,000 $2,000,000 Retention: $2,500 $2,500 Fiduciary: Limit: Not Purchased Not Purchased Employed Lawyers: Limit: Not Purchased Not Purchased Shared or Separate Limits: Separate Shared Aggregate Limit for all Liability Parts: $2,000,000 $2,000,000 Crime: Limit: Not Purchased Not Purchased Coverage Part Details D&O Limits and Retentions as shown above,except: Retentions a. Individual Non-Indemnified Liability: None Pending & Prior Proceedings Date a.insuring Agreement A & B: As Expiring b. Insuring Agreement C: As Expiring EPL Limits and Retentions as shown above, except: Limit of Liability b. Insured Agreement B Option 1: Third Party Liability: b. Insured Agreement B Option 2: $1,000,000 $2,000,000 Third Party Liability: Retentions b. Insured Agreement B: $2,500 Third Party Liability: Pending & Prior a.insuring Agreement A: As Expiring Proceedings Date - b. Insuring Agreement B: As Expiring Proposal of Insurance Page 5 of 7 9/14/2015 This insurance proposal is prepared as an outline of coverage only and should not be construed as an exact or complete analysis of the policies, nor as legal evidence of insurance. In the event of any claim under the policies, or questions regarding coverage, all terms, conditions and exclusions of the polices will prevail.

46 Applicable Forms Management Liability ML NT Policyholder Disclosure Notice on Terrorism ML NT OFAC OFAC Notice ML NT 00001FL FL Policyholder Notice ML AM 00002FL Florida Amendatory Endorsement - NFP ML TC 00002FL Table of Contents - Not-for-Profit ML EN Amend Definition of Executive (GTC) ML EN 00004FL Application Reliance Endorsement (GTC) ML EN Exclude Claims Brought Against Specified Entity ML EN Exclude Claims Brought by Specified Entity ML EN Additional Single Defense Cost Limit - Single Defense Limit for All Liability when Shared Limits Not Purchased - $500,000 limit (Option 1) ML EN Additional Defense Limit for All Liability when Shared Limits Purchased - $500,000 limit (Option 2) ML EN Specific Litigation Event Exclusion ML EN Professional Services Exclusion- Not-for-Profit (D&O) ML EN Amend Exclusion to Provide Wage and Hour Endorsement (With Sublimit for Defense Costs) - $100,000 limit (EPL) ML EN Amend Definition of Third Party (EPL) ML EN Amend Conduct to Exclude COO - D&O ML EN IRCA Violation Notice Coverage - $100,000 limit SUBJECT TO: Expiring P&P Litigation Dates No Material Change in Risk One Year Extended Reporting Period may be purchased for 100% of the annual policy premium PREMIUM: Total Premium Option 1 = $1, Total Premium Option 2 = $2, Proposal of Insurance Page 6 of 7 9/14/2015 This insurance proposal is prepared as an outline of coverage only and should not be construed as an exact or complete analysis of the policies, nor as legal evidence of insurance. In the event of any claim under the policies, or questions regarding coverage, all terms, conditions and exclusions of the polices will prevail.

47 PREMIUM SUMMARY Insured: Mira Lago West CDD Insurer: Package Policy Preferred Governmental Insurance Trust (PGIT) Businessowners Policy Prime Insurance Co. (Admitted) Boiler & Machinery Travelers Property & Casualty Co. of America Public Officials Liability Aspen American Ins. Co. DESCRIPTION OF COVERAGE PREMIUM [ ] Package Policy 3% Named Storm Deductible paid to Stahl & Associates $6, Or [ ] Businessowners Policy 5% Hurricance Deductible - paid to Stahl & Associates $4, [ ] Boiler & Machinery paid directly to Travelers $ Plus [ ] Public Officials Liability Option 1 paid to Stahl & Associates $1, Or [ ] Public Officials Liability Option 2 - paid to Stahl & Associates $2, Total Premium Package Policy - POL Option 1 $8, Total Premium Package Policy - POL Option 2 $8, Total Premium Businessowners Policy - POL Option 1 $6, Total Premium Businessowners Policy - POL Option 2 $7, The Proposal presented has been reviewed and accepted based on the terms provided herein. INSURED: Mira Lago West CDD 3434 Colwell Ave Suite 200 Tampa, FL INSURED SIGNATURE: DATE: Proposal of Insurance Page 7 of 7 9/14/2015 This insurance proposal is prepared as an outline of coverage only and should not be construed as an exact or complete analysis of the policies, nor as legal evidence of insurance. In the event of any claim under the policies, or questions regarding coverage, all terms, conditions and exclusions of the polices will prevail.

48 Commercial Insurance Proposal for: Mira Lago West CDD Mailing Address: 3434 Colwell Ave, Ste 200 Tampa, FL Policy Term: 10/01/ /01/2016 Presented by: Stahl Ross and Assoc Inc Tower Hill Insurance Group, LLC PO Box Gainesville, FL Phone Fax Look to the Tower.

49 Tower Hill Insurance Group COMPANY BACKGROUND Founded in 1972, Tower Hill Insurance Group has become one of Florida s most trusted names in homeowners insurance and select commercial business niches within the state. Our commitment to Florida s homeowners and business owners has been proven again and again. We have weathered many strong storms in Florida s history including Hurricanes Andrew, Charley and Wilma and helped our customers rebuild after each one. We began as a small insurance agency in South Florida and have grown into one of the largest insurance providers in Florida. With more than 400 employees and in partnership with over 500 independent insurance agencies throughout the state, we currently insure 400,000+ Florida homes and 6,000+ community associations and businesses. Tower Hill Insurance Group serves businesses in Florida with a variety of program options. All commercial business is marketed exclusively through Tower Hill s statewide network of independent insurance agencies. We are committed to offering our customers exceptional products at competitive pricing and dedicated to providing superior customer service. Our programs include value-added benefits, such as: On-site visits and recommendations from field loss-control specialists Tailored claim services Development of the broadest property and casualty products to meet the needs of our consumers.

50 Tower Hill Insurance Group INTRODUCTION We are pleased to offer you the following BOP Res-HOA quote from Tower Hill Prime Insurance Company. This quote proposal is merely a descriptive summary of coverage provided by the proposed insurance company and should be used for reference only. This is not a binder of coverage; the proposal is intended only as a representative outline of coverage afforded by policies quoted by Tower Hill. When coverage is bound, actual policy forms and wording take precedence over information contained in this proposal with regard to terms, conditions, and exclusions. Please carefully review this proposal with your insurance representative to review your limits of insurance and to ensure that all information and coverages are correct. Your insurance representative can also answer any questions you may have regarding provisions contained in this proposal. Tower Hill Prime Insurance Company currently holds a financial stability rating A (Exceptional) from AM Best Company. This Commercial policy is written on an ISO Policy Form which offers some of the broadest coverages available in the marketplace.

51 Tower Hill Insurance Group QUOTE SUMMARY We are pleased to offer you the following BOP Res-HOA quote from Tower Hill Prime Insurance Company. Described Premises Limits of Insurance Optional Coverages See Schedule Attached See Schedule Attached See Schedule Attached Base Premium Terrorism Premium Total Commissionable Premium MGA Fee Fire Marshall & Regulatory Assessment Tax EMPAT TOTAL POLICY PREMIUM $4, $42.99 $4, $25.00 $4.30 $4.00 $4, Payment Option PAYMENT PLAN OPTIONS Down Payment Installment Amount per Installment Service Charge per Payment Total Paid Insured Direct Bill Full Pay $4, $4, Agent Direct Bill Full Pay $4, $4, Insured Direct Semi Annual Pay Plan Insured Direct Quarterly Pay Plan $2, $1, $3.00 $4, $2, $ $3.00 $4, Upon your request to issue a policy from this quote, a premium notice will be mailed. The time from MAILING TO POSTING OF PAYMENT CAN BE AS MANY AS 10 BUSINESS DAYS, so it is recommended to REMIT GROSS PREMIUM UPON RECEIPT OF THE PREMIUM NOTICE in order to ensure continuous coverage.

52 Tower Hill Insurance Group Mira Lago West CDD PREMISES AND BUILDINGS Policy Term: 10/01/ /01/2016 Form Type: Special Additional Coverages Limits Hired and Non-Owned Auto Liability $2,000,000 / $1,000,000 Location th Ave. RUSKIN, FL Bldg # Description Bldg Limit Contents - Location 1 Valuation Basis is Replacement Cost Bldg # Policy Coverage Limits $5,000 Unscheduled Property Business Income with Extra Expense Coverage All Other Perils Deductible Hurricane Deductible Catastrophic Ground Cover Collapse Sinkhole Deductible Excluded $2,500 5% Included 10% Misc. Outdoor Property Limits IRRIGATION SYSTEMS $50,000 LIGHTING - LANDSCAPE $25,000 PERIMETER WALL $75,000 FOUNTAIN(S) $5,000 FOUNTAIN(S) $5,000 PERIMETER WALL $125,000 LIGHTING - LANDSCAPE $25,000 FOUNTAIN(S) $7,000 GATE (W/ELECTRONICS) $25,000 GATE (W/ELECTRONICS) $25,000 DISCLAIMER: This quote is based on information provided and rates in force at the time of quotation and is subject to underwriting. Any changes to the information submitted, made for any reason, including but not limited to underwriting actions, loss control, verification and validation of information or changes initiated at the time of submission, may result in a change in the final premium offered. Coverage is not bound and no coverage will be afforded by this quotation. Prior to actual binding, it may be withdrawn at any time.

53 Tower Hill Insurance Group Mira Lago West CDD Policy Term: 10/01/ /01/2016 Form Type: Special LIABILITY AND MEDICAL EXPENSES Each Occurrence $1,000,000 General Aggregate $2,000,000 Medical Expenses Limit - Any One Person $5,000 Damage to Premises Rented to You $50,000 Personal and Advertising Injury Limit $1,000,000 Products and Completed Operations Limit $2,000,000 DISCLAIMER: This quote is based on information provided and rates in force at the time of quotation and is subject to underwriting. Any changes to the information submitted, made for any reason, including but not limited to underwriting actions, loss control, verification and validation of information or changes initiated at the time of submission, may result in a change in the final premium offered. Coverage is not bound and no coverage will be afforded by this quotation. Prior to actual binding, it may be withdrawn at any time.

54 Tower Hill Insurance Group FORM SCHEDULE Form Version Description THP020 (01/15) Policy Jacket BP IN 01 (07/02) Businessowners Coverage Form Index BP (07/02) Businessowners Coverage Form PBR (01/15) Florida Changes BP (08/08) Water Exclusion Endorsement PBR (01/15) Businessowners Coverage - Amendatory Endorsement PBR (01/15) Community Association - Amendatory Endorsement BP (01/06) Florida Calendar Year Hurricane Percentage Deductible BP (07/02) Employment - Related Practices Exclusion BP (01/03) War Liability Exclusion BP (11/02) Limited Fungi or Bacteria Coverage BP (01/15) Disclosure Pursuant to Terrorism Risk Insurance Act BP (11/02) Fungi or Bacteria Exclusion (Liability) BP (01/15) Cap on Losses from Certified Acts of Terrorism BP (01/07) Exclusion of Loss Due To Virus or Bacteria BP (07/02) Exclusion - Year 2000 Computer-Related and Other Electronic Problems IL (01/15) Risk Management Notice To The Policyholder IL P 001 (01/04) OFAC Advisory Notice PB (01/15) Hired Auto and Non-Owned Auto Liability PB (01/15) Sinkhole Loss Coverage PB (01/15) Communicable Disease Exclusion PB (01/15) Existing Damage Exclusion PB (01/15) Exclusion - Earth Movement PB (01/15) Exclusion- Business Income and Extra Expense DISCLAIMER: This quote is based on information provided and rates in force at the time of quotation and is subject to underwriting. Any changes to the information submitted, made for any reason, including but not limited to underwriting actions, loss control, verification and validation of information or changes initiated at the time of submission, may result in a change in the final premium offered. Coverage is not bound and no coverage will be afforded by this quotation. Prior to actual binding, it may be withdrawn at any time.

55 Tower Hill Insurance Group FORM SCHEDULE Form Version Description PB (01/15) Exclusion - Athletic or Sports Participants Privacy Notice (05/13) Privacy Notice PB (01/15) Exclusion - Violation of Statutes that Govern s, Fax, Phone Calls or Other Methods of Sending Material or Information DISCLAIMER: This quote is based on information provided and rates in force at the time of quotation and is subject to underwriting. Any changes to the information submitted, made for any reason, including but not limited to underwriting actions, loss control, verification and validation of information or changes initiated at the time of submission, may result in a change in the final premium offered. Coverage is not bound and no coverage will be afforded by this quotation. Prior to actual binding, it may be withdrawn at any time.

56 Tower Hill Insurance Group PROPERTY COVERAGE DEFINITIONS Building Ordinance or Law Covers losses resulting from the enforcement of any ordinance or law that requires demolition of parts of the property which are not damaged, regulates the construction or repair of buildings, or establishes zoning and/or land use requirements. Business Income Defined as the Net Income (Net Profit or Loss before income taxes) that would have been earned or incurred and continuing normal operating expenses incurred including payroll. For manufacturing risks, Net Income includes the net sales value of production. Coverage pays for the Business Income loss you sustain due to the necessary suspension of your operations during the period of restoration" (subject to policy limit). Extra Expense Defined as necessary expenses you incur during the period of restoration that you would not have incurred if there had been no direct physical loss or damage to property. Coverage pertains to expenses (other than the expense to repair or replace property) which are incurred to: Avoid or minimize the suspension of business and to continue operations at the described premises. Catastrophic Ground Cover Collapse Included with all policies Defined as geological activity that results in all of the following: a. The abrupt collapse of the ground cover; b. A depression in the ground cover clearly visible to the naked eye; c. Structural damage to the covered building, including the foundation; and d. The insured structure being condemned and ordered to be vacated by the governmental agency authorized by law to issue such an order for that structure. Sinkhole Loss Coverage Coverage may not be available Defined as loss or damage to Coverage Property when structural damage to the covered building, including the foundation, is caused by settlement or systematic weakening of the earth supporting the covered building only if the settlement or systematic weakening results from contemporaneous movement or raveling of soils, sediments, or rock materials into subterranean voids created by effect of water on a limestone or similar rock formation. Business Personal Property coverage applies only if there is structural damage to Covered Property caused by sinkhole activity. Business Income, Extended Business income and Extra Expense coverages do not apply to coverage for Sinkhole Loss. DISCLAIMER: This proposal is merely a descriptive summary of coverage provided by the insurance companies being proposed and should be used for reference purposes only. This is a quotation of coverage only. It is not a binder of insurance and is valid only for a period of 30 days from the date of this proposal. This proposal does not amend or alter the insurance document.

57 Tower Hill Insurance Group COVERAGE ENHANCEMENTS Additional Coverage Extensions (included in basic policy) Unscheduled buildings and/or business personal property, up to $5,000 per premises Automatic Seasonal increase of 25% for BPP amounts to provide for seasonal variations Exterior Building Glass breakage covered with $1000 deductible Tree removal and tree debris removal, up to $2,500 per premises Debris Removal of covered property up to 25% of the RC loss as a sub-limit (within limit of insurance) with $10,000 as an additional amount of insurance. Business Income* (72-hour waiting period) 4 months actual loss sustained; exclusion may apply. Refer to Policy Coverage section of the quote Extended Business Income, up to 30 days and $5,000 limit (if Business Income applies) Extra Expense, 4 months; exclusion may apply. Refer to Policy Coverage section of the quote Preservation of Property, up to 30 days Fire Department Service Charges, up to $1,000 Pollutant Clean Up & Removal, up to $10,000 per premises Civil Authority, Business Income & Extra Expense (72-hour waiting period), up to 3 weeks Money Orders & Counterfeit Paper Currency, up to $1,000 Forgery & Alteration, up to $2,500 Increased Cost of Construction, up to $10,000 Personal property off premises, up to $5,000 with limitations Newly Acquired Building and Business Personal Property $250,000 for buildings, $100,000 for BPP (30 days or when policy expires) Annual Automatic Value Increase for Buildings Fire Extinguisher System Re-Charge Expense, up to $5,000 Valuable Papers, Electronic Media and Records, up to $10,000 on premises and $5,000 off premises Accounts Receivable, up to $10,000 on premises and $5,000 off premises Deductible Options (subject to availability and territory) Standard AOP Deductible: $500; $1,000; $2,500; $5,000; $10,000; or $25,000 (per occurrence) Hurricane Deductible: 1%, 2%; 3%; 5%; or 10%; (per occurrence or Calendar Year, per building) Wind Deductible: 1%, 2%; 3%; 5%; or 10%; (per occurrence, per building)

58 Tower Hill Insurance Group Coverage Enhancements continued Business Owners Liability Coverage No General Liability Deductible Damage to Premises Rented to You: $50,000 Medical Expenses: $1,000; or $5,000

59 Tower Hill Insurance Group OPTIONAL COVERAGES AVAILABLE (additional premium may apply) Optional Coverages Available (Additional Premium May Apply) Outdoor Signs (with separate $1,000 deductible) Business Income 120 days or 12 months loss of income (actual loss sustained) Extended Business Income, up to 360 additional days (subject to a stated amount and actual loss sustained) Extra Expense 120 days or 12 months Hired & Non-Owned Automobile Liability Liquor Liability Money & Securities, up to $5,000 or $10,000 inside/$2,000 outside (with separate $1,000 deductible) Employee Dishonesty (with separate $1,000 deductible) Forgery or Alteration (same limit as Employee Dishonesty) Ordinance or Law Coverage Employee Benefits Liability (Claims Made Form) Tools & Equipment: Blanket, Scheduled, Non-Owned, Employee Tools

60 Tower Hill Insurance Group VALUE-ADDED BENEFITS Claims Service with Localized Claims Handling Tower Hill s commitment to you is provide prompt, fair and equitable handling of any claim you may have. We monitor all aspects of the claim process to ensure that you are receiving professional and quality service. Managed Vendor Program We work with a group of preferred vendors, to assist our insureds. These contractors and vendors have been pre-screened for insurance, licensing and reputation. They have consistently provided excellent service to Tower Hill customers and offer a one-year warranty on the repair work performed. Use of this program is recommended, but optional. These preferred contractors/vendors can assist in damage mitigation, repairs and rebuilding. On-Site Field Visits We inspect every risk at the initial binding and every three (3) years afterwards, unless more frequent inspections are needed. Recommendations from Field Loss-Control Specialists We will conduct an insurability and premium inspection of the above property. In our inspection items may be noted as hazards that need to be addressed. We will provide you with reasonable time to remedy any issues that are mentioned in these reports. Tower Hill Insurance Group, LLC is authorized by your policy of insurance to make inspections, surveys, reports and recommendations of the subject property. Please note that our inspections, surveys, reports and recommendations are for our use in determining the insurability and the premiums charged and should not be relied upon for other purposes. Please see your policy of insurance, Common Policy Conditions for more details. Nothing herein constitutes, nor should it be construed by you as a waiver of any of the rights of Tower Hill Insurance, LLC under its policy of insurance, nor is it the purpose of this letter to waive any of the policy terms and/or conditions.

61 Tower Hill Insurance Group POLICY RISK CHANGES Changes to your business, such as adding a new location or building remodeling, may affect your policy coverages and premium. To help ensure that your policy coverages are appropriate to meet your current needs, be sure to notify your insurance agency of any updates or changes immediately. For example: Ownership or business name changes. New buildings, additions or modifications, such as remodeling. Security changes such as new burglary or fire alarms systems, patrol or guard service. Added amenities such as clubhouse, pool, outdoor signs, fences or bath house.

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