VillaMar
Community Development District

Agenda

June 20, 2019

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June 13, 2019

VillaMar
Community  Development District
135 W. Central Blvd., Suite 320, Orlando, Florida 32801
Phone: 407-841-5524- Fax: 407-839-1526

Board of Supervisors VillaMar
Community Development District

Dear Board Members:
The regular meeting of the Board of Supervisors of VillaMar Community Development District will be held Thursday, June 20, 2019 at 1:00 PM at 346 E Central Ave., Winter Haven, Florida 33880. Following is the advance agenda for the meeting:
Roll Call
Public Comment Period (1Speakers will fill out a card and submit it to the District Manager prior to the beginning of the meeting)
Approval of Minutes of the April 10, 2019 Board of Supervisors Meeting
Consideration of Resolution 2019-39 Supplemental Assessment Resolution
Consideration of Hopping Green. & Sams Fee Proposal
Staff Reports
Attorney
Engineer
District Manager's Report
Balance Sheet and Income Statement
Presentation of Number of Registered Voters - 0
Other Business
Supervisors Requests and Audience Comments
Adjournment
The second order of business is the Public Comment Period where the public has an opportunity to be heard on propositions coming before the Board as reflected on the agenda, and any other items. Speakers must fill out a Request to Speak form and submit it to the District Manager prior to the beginning of the meeting.
The third order of business is the approval of the minutes of the April 10, 2019 Board of Supervisors meeting. A copy of the minutes are enclosed for your review.
The fourth order of business is the consideration of Resolution 2019-39 supplemental assessment resolution. A copy of the resolution is enclosed for your review.

1 Comments wiJI be limited to three (3) minutes

The fifth order of business is the consideration of Hopping Green & Sams fee proposal. A copy of the proposal is enclosed for your review.
The sixth order of business is staff reports. Section C is the District Manager's Report. Sub-Section 1 includes the includes the balance sheet and income statement for review. Sub-Section 2 includes the presentation of number of registered voters within ,the boundaries of the District. A copy of the letter from the Polk County Supervisor of Elections is enclosed for your review.
The balance of the agenda will be discussed at the meeting. In the meantime, if you should have any questions, please do not hesitate to contact me.
Sincerely,
Jill Burns District Manager
CC:	Roy Van Wyk, District Counsel Enclosures

MINUTES

MINUTES OF MEETING VILLAMAR
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the VillaMar Community Development District was held on Wednesday, April 10, 2019 at 3:25 p.m. at 346 E Central Ave, Winter Haven, Florida.

Present and constituting a quorum were:

Rennie Heath Joel Adams Lauren Schwenk Andrew Rhinehart
Also, present were: Jill Burns
Roy Van Wyk
Ashton Bligh via Phone Drew White
Dennis Wood

Chainnan
Vice Chairman by phone Assistant Secretary Assistant Secretary

District Manager
District Counsel
Bond Counsel by phone Developer's Office District Engineer

The.following is a summary ofthe discussions and actions taken at the April JO, 2019 VillaMar Community Development District's Regular Board ofSupervisor's Meeting.
FIRST ORDER OF BUSINESS	Roll Call
Ms. Bums called the meeting to order and noted that a quorum was established.

SECOND ORDER OF BUSINESS	Public Comment Period
Ms. Bums noted there were no members of the pubHc present.

THIRD ORDER OF BUSINESS	Organizational Matters
Acceptance of Resignation from Phillip Allende

On MOTION by Ms. Schwenk, seconded by Mr. Rhinehart, with all in favor, the resignation was accepted.

April 10, 2019	VillaMar COD

Appointment of Individual to Fulfill the Board Vacancy with a Term Ending November 2021
Ms. Bwns asked for nominations to fill the vacancy. She noted the vacancy is for seat 3 with a term ending 2021. Brian Walsh was nominated by Joel Adams.

On MOTION by Mr. Adams, seconded by Mr. Rhinehart, with all in favor, Brian Walsh's Appointment to Fulfill the Board Vacancy with a Term Ending November 2021, was approved.

Administration of Oath to Newly Appointed Supervisor
Mr. Walsh wasn't present and will be sworn in at the next meeting. Ms. Bums asked for Joel to send her Mr. Walsh's contact information.

Consideration of Resolution 2019-35 Electing Assistant Sec1·etary
Ms. Bums suggested that Brian Walsh be named as Secretary.

On MOTION by Mr. Heath, seconded by Mr. Rhinehart, with all in favor, Resolution 2019-35 Electing Brian Walsh as Assistant Secretary, was approved.

FOURTH ORDER OF BUSINESS	Approval of the Minutes of the February
13, 2019 Board of Supervisors Meeting
Ms. Burns asked for any comments for corrections. The Board had no comments on the February 13, 2019 minutes.

On MOTION by Mr. Heath, seconded by Mr. Rhinehart, with all in favor, the minutes of the February 13, 2019 Board of Supervisors meeting, were approved, as presented.

FIFTH ORDER OF BUSINESS	Consideration of Resolution 2019-36 Approving
the Proposed Budget for Fiscal Year 2020 and Setting a Public Hearing
Ms. Burns recognized that the resolution outlines a proposed date as July 1oth during the regular July meeting. She noted that they are under the impression that this wm be developer funded for the upcoming year. There are added expenses for bond related expenses since bonds should be issued before the fiscal year stru.1s. There is also landscaping that is expected in February of 2020. It is prorated based on the lot counts. Street lighting is prorated for an 8-month

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April IO, 2019	VillaMar CDD

period. Amenities should be expected around August of 2020. She noted there are some amenity related expenses but only a couple of months based on the timing (August and September). The total budget amount is $261,026. Ms. Burns asked for questions or changes, the Board had no changes to the budget as presented. The public hearing date was set for July 10, 2019 at 3:15
p.m. at their current location.

On MOTION by Mr. Heath, seconded by Mr. Rhinehart, with all in favor, Resolution 2019-36 Approving the Proposed Budget for Fiscal Year 2020 and Setting the Public Hearing for July 10, 2019 at 3:15 p.m. at 346 E Central Ave, Winter Haven, Florida, was approved.

SIXTH ORDER OF BUSINESS	Consideration of Supplemental
Engineer's Report
Mr. Wood noted amendments to the original Engineer's Report. One change was the number of phases from three phases to two phases. Phase I and 2 were combined and the costs were updated to reflect cost that had been received on the project. The master overall site plan was updated to show where Phase 1 and 2 are. Legal was also updated for the combination of Phase 1 and 2.

On MOTION by Mr. Heath, seconded by Mr. Rhinehart, with all in favor, the Supplemental Engineer's Report, was approved.

SEVENTH ORDER OF BUSINESS	Consideration of Supplemental
Assessment Methodology
Ms. Burns noted this covers the Phase 1 project as 344 lots as Mr. Wood outlined. The Phase 1 capital improvement cost is $8,955,000. A par amount of bonds is going to be issued of
$6,346,000 for the Phase 1 issuance. Table 4 has the improvement cost per unit of $26,811. The par debt per unit is $19,000 showing the benefit is in excess of the par debt per unit. Net and gross assessments per unit are listed in Table 6. The gross assessment per unit is listed as $1,386. Table 7 has the preliminary assessment role where it is allocated by acres. Table 7 will be updated to outline the various owners with parcels.

On MOTION by Mr. Heath, seconded by Mr. Rhinehart, with all in favor, the Supplemental Assessment Methodology, was approved.

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April I0, 2019	VillaMar CDD

EIGHTH ORDER Of BUSINESS	Consideration  of Supplemental 2019-37
Delegation Resolution
Ms. Bligh noted this resolution is meant to replace resolution 2019-34. It reflects changes in the Development Plan, Supplemental Engineer's Report, and the new assessments in the Supplemental Assessment Methodology. This also reflects that it has gone from three phases down to two phases, and gone from 256 units to 344 units. There are a couple of other items that have  been  updated  since  the 2019-34  resolution,  which  was  adopted  on  February  13th•  This resolution reflects the rescheduling of the public hearing for assessments and it also reflects that the bond has been since validated. The exhibits attached are updated financing documents. She also noted the importance of the parameters in section 5 have not changed and the resolution is otherwise identical to the one that was previously adopted.

On MOTION by Mr. Heath, seconded by Mr. Rhinehart, with all in favor, the Supplemental 2019-37 Delegation Resolution, was approved.

NINTH ORDER OF BUSINESS	Conside1·ation	of	Proposals	for
Construction Services for Master Project Improvements (Phase 2)
Mr. Wood reviewed and explained the bid evaluation process for the contracts received
for VillaMar Phase 2. There were fom bidders. Exhibit A shows the ranking based on the evaluation criteria, and exhibit B is the adjusted bid ranking. There is a bid amount in column 3, that's the bid received from the contractor and the adjusted bid is the 2nd column. He asked the contractors to adjust to include everything so that the bids were based on 'apples to apples.' There weren't many things that were different, but Exhibit C identifies some of the discrepancies. The adjusted bid numbers were used in the evaluation criteria, which is shown on Exhibit D. Kerney did have the lowest price. The first part they all got 15 and then it was adjusted appropriately. The only one that provided some financial information that was worth looking at was QGS. They got a ranking of IO points. The other ones were ranked based on the bonding capabilities. A typo was noted, and it shou_ld be $80 million instead of $80,000. Another typo is noted, the first number on the list is supposed to be 20. The second number in the evaluation is the Understanding of Scope. The same percentages that were used on price were used for Understanding of Scope. He noted that all are qualified contractors based on job experiences and ranked 15 points. They all had comparable ranking in reference to employees.

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April 10, 2019	VillaMar CDD

All three had comparable distances from  the sites.  Tucker was closest,  and they got a 1.  Once everything was inserted into the evaluation bid summary the scores were Kerney 94, QGS 93.3, JMHC 91.9, and Tucker with 90.6. Based on the evaluation Mr. Wood recommended awarding to Kerney. He confirmed all bids were responsive and from responsible parties.
The Board accepted the rankings as submitted.

On MOTION by Mr. Heath, seconded by Mr. Rhinehart, with all in favor, the ranking of Kerney with 94 points, QGS with 93.3 points, JMHC with 91.9 points, and Tucker with 90.6 points, was accepted.

Staff was authorized by the Board to issue the Notice of Award. Mr. Heath thanked Dennis for his work and presentation of contracts.

On MOTION by Mr, Heath, seconded by Mr. Rhinehart, with all in favor, Authorization to Issue the Notice of Intent to Award, was approved.

TENTH ORDER OF BUSINESS	Consideration of Assignment of
Contractor Agreement VillaMar Phase 1 Project
Ms. Burns noted this is bid by the developer and assigned to QGS development for Phase
Mr. Van Wyk stated in the packet is all of the necessary information for assigning of the contract.

On MOTION by Mr. Heath, seconded by Mr. Rhinehart, with all in favor, Assignment of Contractor Agreement VillaMar Phase 1 with QGS, was approved.

ELEVENTH ORDER OF BUSINESS	Consideration of Resolution 2019-38
Designating a Purchasing Agent
Ms. Bums stated this allows the District to directly purchase certain construction materials for those contracts to eliminate the tax on it.

On MOTION by Mr. Heath, seconded by Mr. Rhinehart, with all in favor, Resolution 2019-38 Designating a Purchasing Agent, was approved.

TWELTH ORDER OF BUSINESS	Staff Reports

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April 10, 2019	VillaMar CDD

Attorney
Mr. Van Wyk asked for authorization for staff to provide and receive construction access easements from three property owners.

On MOTION by Mr. Heath, seconded by Mr. Rhinehart, with all in favor, Authorization of Staff to Execute Construction Access Easements, approved.

Engineer
Mr. Wood had nothing additional for the Board.

District Manager's Report
Balance Sheet and Income Statement
Ms. Burns noted the income statement is in the package and there is no action that needs to be taken. An EIN has still not been issued due to the issue of the previous VillaMar District. The IRS has been provided the information and they still have not been able to locate anything or be helpful. Ms. Burns assured the Board it is still in progress and being checked on a daily basis. Mr. Van Wyk suggested going down to the IRS.

TIDRTEENTH ORDER OF BUSINESS	Other Business
There being the none, the next item followed.

FOURTEENTH ORDER OF BUSINESS	Supervisors	Requests	and	Audience
Comments
There being the none, the next item followed.

FIFTEEN ORDER OF BUSINESS	Adjournment

On MOTION by Mr. Heath, seconded by Mr. Rhinehart, with all in
favor, meeting was adj ourned.

Secretary/Assistant Secretary	Chairman/Vice Chaim1 an

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SECT-ION IV 

RESOLUTION 2019-39
A RESOLUTION OF THE BOARD OF SUPERVISORS  OF THE VILLAMAR COMMUNITY DEVELOPMENT DISTRICT SETTING FORTH THE SPECIFIC  TERMS OF THE DISTRICT'S  SPECIAL ASSESSMENT BONDS, SERIES 2019; CONFIRMING THE DISTRICT'S PROVISION       OF       IMPROVE1\.1ENTS;       CONFIRMING       THE SUPPLEMENTAL ENGINEER'S REPORT  AND SUPPLEMENTAL ASSESSMENT METHODOLOGY REPORT; CONFIRMING, ALLOCATING AND AUTHORIZING THE COLLECTION OF SPECIAL ASSESSMENTS SECURING THE SERIES 2019 BONDS; PROVIDING FOR THE APPLICATION OF TRUE-UP PAYMENTS; PROVIDING FOR THE SUPPLEMENTATION OF THE IMPROVEMENT LIEN BOOK; PROVIDING FOR THE RECORDING OF A NOTICE OF SERIES 2019 SPECIAL ASSESSMENTS; PROVIDING FOR CONFLICTS, SEVERABILITY AND AN EFFECTIVE DATE
WHEREAS, the VillaMar Community Development District ("District") has previously indicated its intention to undertake. install, establish. construct or acquire certain public improvements and to finance such public improvements through the imposition of special assessments on benefited property within the District and tlle issuance ofbonds; and
WHEREAS, the District's Board of Supervisors ("Board..) has previously adopted, after notice and public hearing, Resolution 2019-32, relating to the imposition, levy, collection and enforcement of such special assessments; and
WHEREAS, pursuant to and consistent with the terms of Resolution 2019-32, this Resolution shall set forth the terms of bonds actually issued by the District, and apply the adopted special assessment methodology to the actual scope of the project to be completed with a series of bonds and the terms of the bond issue; and
WHEREAS, on June 12, 2019, the District entered into a Bond Purchase Contract, wbereby it agreed to sell $7,180,000 of its Special Assessment Bonds, Series 2019 (the ''Series 2019 Bonds"); and
WHEREAS, pursuant to and consistent with Resolution 2019-32, the District desires to set forth the particular terms of the sale of the Series 2019 Bonds and to confirm the liens of the levy of special assessments securing the Series 2019 Bonds.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE VILLAMAR COMMUNITY DEVELOPMENT DISTRICT AS FOLLOWS:
SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted pursuant to the provisions of Florida law, including Chapters 170, 190 and 197, Florida Statutes, and Resolution 2019-32.

SECTION 2.	FINDINGS.	The Board of Supervisors of the VillaMar Community Development District hereby finds and determines as follows:

On February 6, 2019, the District, after due notice and public hearing, adopted Resolution 2019-32, which, among other things, equalized, approved, confinned and levied special assessments on property benefiting from the improvements authorized by the District. That Resolution provides that as each series of bonds is issued to fund all or any portion of the District's improvements, a supplemental resolution will be adopted to set forth the specific terms of each series of the bonds and certifying the amount of the liens of the special assessments securing any portion of the bonds, including interest, costs of issuance, the number of payments due, any True-Up amounts and the application ofreceipt of any True-Up proceeds.
The VillaMar Community Development District Engineer's Report for Capital Improvements, dated January 3, 2019, as supplemented by the Supplemental Engineer's Report for Capital Improvements, dated March 20, 2019, attached to this Resolution as Composite Exhibit A (collectively, the ..Engineer's Report"), identifies and describes the presently expected components of the infrastructure improvements of the District (the ..Series 2019 Project") to be financed all or in part with the Series 2019 Bonds (the "Improvements"), and the estimated costs of the Series 2019 Project as $8,955,000.  The District hereby confmns that the Series 2019 Project serves a proper, essential and valid public purpose. The Engineer's Report is hereby approved, adopted, and confirmed. The District ratifies its use in connection with the sale of the Series 2019 Bonds.

The Master Assessment Methodology dated December 5, 2018 (the, "Master Report"), as supplemented in the Supplemental Assessment Methodology for Phase 1, dated June 12, 2019 (the "Supplemental Report" and, together with the Master Report, the "Assessment Report"), attached to this Resolution as Composite Exhibit B, applies to the Improvements and the actual terms of the Series 2019 Bonds. The Supplemental Report is hereby approved, adopted and confirmed. The District ratifies its use in connection with the sale of the Series 2019 Bonds.

The Series 2019 Project will specially benefit certain property within the District, a legal description of which is attached hereto as Exhibit C (the ••series 2019 Assessment Area"). It is reasonable, proper. just and right to assess the portion of the costs of the Series 2019 Project financed with the Series 2019 Bonds to the specially benefited properties within the District as set forth in Resolution 2019-32, and this Resolution.

SECTION 3.	CONFIRMATION OF MAxlMuM AsSF.SSMENT LIEN FOR SERIES 2019
BONDS. As provided in Resolution 2019-32, this Resolution is intended to set forth the terms of the Series 2019 Bonds and the final amount ofthe liens ofthe special assessments securing those bonds.

The Series 2019 Bonds, in a par amount of $7,180,000, shall bear such rates of interest and maturity as shown on Exhibit D attached hereto. The final payment on the Series 2019 Bonds shall be due on November 1, 2050. The estimated sources and uses of funds of the

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Series 2019 Bonds shall be as set forth in Exhibit E. The debt service due on the Series 2019 Bonds is set forth on Exhibit F attached hereto.
The lien of the special assessments securing the Series 2019 Bonds on the Series 2019 Assessment Area (the "Series 2019 Assessments"), shall be the principal amount due on the Series 2019 Bonds, together with accrued but unpaid interest thereon, and together with the amount by which annual assessments are grossed up to include early payment discounts required by law and costs of collection. The Series 2019 Bonds are secured solely by the lien against the Series 2019 Assessment Area.
SECTION 4.	ALLOCATION OF AsSF..SSMENTS SECURING nm SERIES 2019 BONDS.
The special assessments for the Series 2019 Bonds shall be allocated in accordance with Exhibit B, which allocation shall initially be on an acreage basis and further allocated as lands are platted. The District's Supplemental Report is consistent with the District's Master Report. The Assessment Report, considered herein, reflects the actual terms of the issuance of the District's Series 2019 Bonds. The estimated costs of collection of the special assessments for the Series 2019 Bonds are as set forth in the Assessment Report.

The lien of the special assessments securing the Series 2019 Bonds incJudes all property within the Series 2019 Assessment Area, and as such land is ultimately defined and set forth in any plats, certificates of occupancy or other designations of developable acreage.

Taking into account capitalized interest and earnings on certain funds and accounts as set forth in the Master Trust Indenture, dated June 1, 2019, and the First Supplemental Trust Indenture, dated June 1, 2019 (together, the "Indenture"), the District shall begin annual collection of special assessments for the Series 2019 Bonds debt service payments using the methods available to it by law. Debt service payments and semi-annual installments of interest are reflected on Exhibit F. The Series 2019 Bonds include an amount for capitalized interest through May l, 2020.

An owner of property subject to the Series 2019 Assessments may pay in whole or in part the principal balance of such Series 2019 Assessments at any time if there is also paid an amount equal to the interest that would otherwise be due on such prepaid amount on the next succeeding interest payment date. or. if prepaid during the forty-five (45) day period preceding such interest payment date, to the interest payment date following such next succeeding interest payment date.

An owner of property subject to the levy of Series 2019 Assessments may pay the entire balance of the Series 2019 Assessments remaining due. without interest, within thirty (30) days after the related Series 2019 Project has been completed or acquired by the District, and the Board has adopted a resolution accepting such Series 2019 Project pursuant to Chapter 170.09, Florida Statutes. This provision is subject to waiver by the owner of property at any time prior to or after the issuance of the Series 2019 Bonds.

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The District hereby certifies the special assessments for collection and directs staff to take all actions necessary to meet the time and other deadlines imposed by Polk County and Florida law for collection. The District intends, to the extent possible and subject to entering into the appropriate agreements with the Polk County Tax Collector and Polk County Property Appraiser (or other appropriate Polk County, Florida officials) to collect the Series 2019 Assessments on platted lands contained within a plat or certificate of occupancy using the Uniform Method in Chapter 197. Florida Statutes. The District intends, to the extent possible, to directly bill, collect and enforce the Series 2019 Assessments on lands not included within an approved plat or certificate of occupancy unless in any year, the District determines it to be in its best interest to collect such assessments using the Unifonn Method in Chapter 197, Florida Statutes. The District Manager shall prepare or cause to be prepared each year an assessment roll for purposes of effecting the collection of the special assessments and present same to the District Board as required by law. The District Manager is further directed and authorized to take all actions necessary to collect special assessments on property using methods available to the District authorized by Florida law in order to provide for the timely payment of debt service.

SECTION 5.	APPROVAL OF TRUE-UP PROCESS AND APPLICATION OF TRUE-UP
PAYMENTS. Pursuant to Resolution 2019-32, there may be required from time to time certain True-Up payments. As parcels of land are included in a plat or certificate of occupancy, the special assessments securing the Series 2019 Bonds shall be allocated as set forth in Resolution 2019-32, this Resolution, and the Assessment Report, including, without limitation, the application of the True-Up process set forth in the Assessment Report.

Based on the final par amount of $7,180,000 in Series 2019 Bonds, the True-Up calculations will be made in accordance with the process set forth in the Assessment Report. The District shall apply all True-Up payments related to the Series 2019 Bonds only to the credit of the Series 2019 Bonds. All True-Up payments, as well as all other prepayments of assessments, shall be deposited into the accounts specified in the Indenture governing the Series 2019 Bonds.

SECTION 6. IMPROVEMENT LIEN BOOK. Immediately following the adoption of this Resolution these special assessments as reflected herein shall be recorded by the Secretary of the Board of the District in the District's Improvement Lien Book. The special assessment or assessments against each respective parcel shall be and shall remain a legal, valid and binding first lien on such parcel until paid and such lien shall be coequal with the lien of all state, county. district, municipal or other governmental taxes a nd superior in dignity to all other liens, titles, and claims.

SECTION 7. OTHER PROVISIONS REMAIN IN EFFECT. This Resolution is intended to supplement Resolution 2019-32, which remains in full force and effect. This Resolution and Resolution 2019-32 shall be construed to the maximum extent possible to give full force and effect to the provisions of each resolution. All District resolutions or parts thereof in actual conflict with this Resolution are, to the extent of such conflict, superseded and repealed.

SECTION 8. AsSESSMENT NOTICE. The District's Secretary is hereby directed to record a Notice of Series 2019 Special Assessments securing the Series 2019 Bonds in the

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Official Records of Polk County, Florida, or such other instrument evidencing the actions taken by the District.

SECTION 9. SEVERABILITY. If any section or part of a section of this resolution be declared invalid or unconstitutional, the validity. force and effect of any other section or part of a section of this resolution shall not thereby be affected or impaired unless it clearly appears that such other section or part of a section of this resolution is wholly or necessarily dependent upon the section or part ofa section so held to be invalid or unconstitutional.

SECTION 10. EFFECTIVE DATE. This Resolution shall become effective upon its adoption.

APPROVED AND ADOPTED this 20th day of June. 2019.

ATTEST:	VILLAMAR COMMUNITY
DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

Comp. Exhibit A:

Comp. Exhibit B:

E:xhibit C: Exhibit D: Exhibit E: Exhibit F:

Engineer's Report for Capital lmproveme,its, dated January 3, 2019, as supplemented by the Supplemental Engineer's Report for Capital Improvements, dated March 20, 2019
Master Assessment Methodology dated December 5, 2018, as supplemented in the Supplemental Assessment Methodology for Phase 1, dated June 12, 2019
Legal Description of Series 2019 Assessment Area Maturities and Coupons of Series 2019 Bonds Sources and Uses of Funds for Series 2019 Bonds
Annual Debt Service Payment Due on Series 2019 Bonds

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composite ExhibitA

VILLAMAR
COMMUNITY DEVELOPMENT DISTRICT

SUPPLEMENTAL ENGINEER'S REPORT FOR CAPITAL IMPROVEMENTS

PREPARED FOR: BOARD OF SUPERVISORS
VILLAMAR
COMMUNl1Y DEVELOPMENT DISTRICT

PREPARED BY:

l I

1925 Bartow Road • Lakeland, FL 33801 • 863-940-2040

MARCH 20, 2019

COMMUNITY DEVELOPMENT DISTRICT

TABLE OFCONTENTS

I.	PURPOSE	, 1
11.	EXHIBIT 7 - SUMMARY OF PROBABLE COST	1
Ill.	EXHIBIT 9 - MASTER SITE PLAN.................................................................. , ................... ,	1
IV.	EXHIBIT 10- ASSESSMENT AREA 1 LEGAL DESCRIPTION	1

LISTOFTABLES & EXHIBITS
EXHIBIT 7-SUMMARY OF PROBABLE COST EXHIBIT 9 - MASTER SITE PLAN
EXHIBIT 10 -ASSESSMENT AREA 1 LEGAL DESCRIPTION

VILLAMAR CDO SUPPLEMENTAL ENGiNEER'S REPORT

I.	PURPOSE
The purpose of this report is to amend the Engineer's Report for the Villamar CDD. The Engineer's Report dated January 3, 2019 had the project being constructed in three phases. The number of lots in each phase has changed and the number of phases has changed to two phases instead of three phases. Included in this Supplemental Engineer's Report for Capital Improvements is an amendment to Exhibit 7 (Summary of Probable Cost) and Exhibit 9 (Master Site Plan).

11.	EXHIBIT 7 (SUMMARY OF PROBABLE COST)
The cost projections for the phases were adjusted to reflect two phases of construction.

111.	EXHIBIT9 (MASTER SITE PLAN)
The overall layout was revised to show the construction of the Development in two phases.
EXHIBIT 10 (ASSESSMENTAREA 1 LEGAL DESCRIPTION)
A legal description has been provided for Assessment Area 1 (Phase 1 -334 Lots).

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Exhibit 7
Villamar Community Development District Summary of Probable Cost

til!.!mber ofLilli
lnfH�gyr� lt119J           Offslte Improvements 11)(&)	m
Phase1
201s-z01g
$	340,000	!P.I
!.!w.1.1
D�U�:2�21	HZ
IQ!!!
$	650,000	
		$	310,000		
Stormwater Mam1gement<2Jl31l5l(GI	$	4,170,000	$	3,846,465	$	8,016,465	
Utilities (Water, Sewer, & StreetLighting) !Sl(6)(11	$	2,000,000	$	1,887,160	$	3,887,160	
Roadway (4JISU&I	$	1,500,000	$	1,364,000	$	2,864,000	

Entrv Feature & Slgnaae t6Jl'll	$	105,000	$	95,000	$	200,000	
Park5 and Recreation Facilities ,111,,	$	420,000	$	380,000	$	800,000	
Contingency	$	420,000	$	390,000	$	810,000	
TOTAL	$	8�9SS;QOO	$	8,272,625	$	17,227,625	
Notes:
Infrastructure consists of public roadway improvements, Stormwater management facilities, master sanitary sewer lift station and utilities, entry feature, landscaping and signage, and parks and recreational facilities.
Excludes grading of each lot both for lnltial pad construction and in conjunction with home construction, which will be provided by the home builder.
Includes Stormwater pond excavation. Costs do not include transportation to or placement of fill on private property.
Includes sub-grade, base, asphalt paving, curbing, and civil/site engineering of public roads.
Includes subdivision infrastructure and civiVslte engineering.
Estimates are based on 2018 cost.
Includes entry features, signage, hardscape, landscape, irrigation and fencing.
CDD will enter into a Lighting Agreement with Tampa Electric for the street light poles and lighting service. Only undergrounding of wires in public right-of-way and on District land is included.
Estimates based on Master Infrastructure to support development of 642 lots.

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EXHIBIT10 VILLAMAR CDD
ASSESSMENTAREA 1 (33 4 LOTS) LEGAL DESCRIPTION

THAT PART OF SECTION 23, TOWNSHIP 29 SOUTH, RANGE 23 EAST, POLK COUNTY, FLORIDA, MORE PARTICULARLY DESCRIBED AS FOLLOWS:

BEGIN AT THE NORTHEAST CORNER OF THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF SAID SECTION 23 AND RUN THENCE soo·36'01"E ALONG THE EA.ST BOUNDARY THEREOF ALSO BEING THE WEST BOUNDARY OF CRESCENT VIEW SUBDIVISION AS RECORDED IN PlAT BOOK 142, PAGE 18 OF THE PUBLIC RECORDSOF POLK COUNTY, FLORIDA, A DISTANCE OF 630.40 FEET TO THE NORTH BOUNDARY OF SUNDANCE RANCH ESTATES AS RECORDED IN PLAT BOOK 77, PAGE 28 OF THE PUBLIC RECORDS OF POLK COUNTY, FLORIDA; THENCE ALONG THE BOUNDARY OF SAID SUNDANCE RANCH ESTATES FOR THE NEXTTHREE CALLS RUN ss9•22'SS"W, 604.89 FEET; THENCE soo•37•04"E, 269.91 FEET; THENCE S89°55'02"W, 685.14 FEET TO THE EASTERLY RIGHT OF WAY OF CHERRY BLOSSOM LANE; RUN THENCE N00°05'12W ALONG SAID RIGHT OF WAY, 841.09 FEET; THENCE S89°23'5911W, 244.27 FEET; THENCE N00.36'01"W, 61.72 FEETTO THE SOUTH BOUNDARY OF THE SOUTH 1/2 OF THE NORTHEAST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 23; THENCE ss9•23'S9"W ALONG SAID SOUTH BOUNDARY, 75S.01 FEET; THENCE N00°36'01"W, 209.17 FEET; THENCE 5g9•23•59"w, 150.00 FEET; THENCE N00°36'01"W, 325.00 FEET; THENCE N89°23'59"E, 106.79 FEET; THENCE N00°36'01"W, 127.35 FEET TO THE NORTH BOUNDARY OF THE SOUTH 1/2 OF lliE NORTHEAST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 23; THENCE N89.31'30"E ALONG SAID NORTH BOUNDARY, 1001.84 FEET TO THE NORTHWEST CORNER OF THE SOUTH 1/2 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 OF SAID SECTION 23; RUN THENCE N89°43'49"E ALONG THE NORTH BOUNDARY THEREOF, 333.78 FEET MORE OR LESS TO
THE WATER'S EDGE OF CRYSTAL LAKE/lAKE CUNNINGHAM; RUN THENCE SOUTHEASTERLY ALONG SAID WATER'S EDGE TO THE EAST BOUNDARY OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 OF SAID SECTION 23; RUN THENCE S00°36'30"E ALONG SAID EAST BOUNDARY, 322.28 FEET MORE OR LESS TO THE POINT OF BEGINNING. SUBJECT TO RIGHT OF WAY FOR CUNNINGHAM ROAD AND CHERRY BLOSSOM LANE.
AND TOGETHER WITH
THAT PART OF SECTION 23, TOWNSHIP 29 SOUTH, RANGE 23 EAST, POLK COUNTY, FLORIDA, MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCE AT THE NORTHEAST CORNER OF THE SOUTH 1/2 OF THE NORTHWEST 1/4 OF SAID SECTION 23 AND RUN THENCE N89.40'3l"W ALONG THE NORTH BOUNDARY THEREOF, 19.01 FEETTO THE WESTERN RIGHT OF WAY OF CHERRY BLOSSOM LANE; THENCE soo·os112"E
ALONG SAID RIGHT OF WAY, 61.01 FEET TO THE POINT OF BEGINNING; CONTINUE THENCE soo·os·1211E ALONG SAID RIGHT OF WAY, 617.39 FEET TO THE NORTHEAST CORNER OF LOT 13 OF SUNDANCE RANCH
ESTATES AS RECORDED IN PLAT BOOK 77, PAGE 28 OF THE PUBLICRECORDS OF POLK COUNTY, FLORIDA; THENCE S89°54'40"W ALONG THE NORTH BOUNDARY OF SAID SUNDANCE RANCH ESTATES,
AND ALONG THE NORTH BO UNDARY OF SUNDANCE RANCH ESTATES PHASE TWO AS RECORDED IN PlAT BOOK 80, PAGE 47 OF THE PUBLIC RECORDS OF POLK COUNTY, FLORIDA, 1515.07 FEET; THENCE Noo•33'24"E, 105.76 FEET; THENCE S89.23'59"W, 63.26 FEET; THENCE N00°36'0l"W, 350.21 FEET; THENCE S89°21'46"W, 105.87 FEET; THENCE N00"26'50"W, 216.14 FEET TO THE NORTH BOUNDARY OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 23; THENCE N89°43'36"E ALONG SAID

NORTH BOUNDARY, 385.30 FEETTOTHE NORTHEAST CORNER OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAi D SECTION 23; THENCE N00°35'24'W, ALONG THE WESTBOUNDARY OF THE NORTHEAST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 23, 660.84 FEET TOTHE NORTHWEST CORNER OF THE SOUTH 1/2 OF THE NORTHEAST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 23; THENCE N89°31'30"E ALONG THE NORTH BOUNDARY THEREOF, 321.10 FEET; lHENCE S00"36'01"E,
127.35 FEET; THENCE ss9•23•59"w, 106.79 FEET; THENCE S00"36'01"E, 32S.OO FEET; THENCE
N89°23'59"E, 150.00 FEET; THENCE S00"36'0l"E, 209.17 FEET TO A POINT ON TH NORTH BOUNDARY OF THE SOUTH 1/2 OF THE NORTHWEST 1/4 OF SAID SECTION 23; THENCE N89"37'08"E, ALONG SAID NORTH BOUNDARY, 755.01 FEET; THENCE S00"36'01"E, 61.72 FEET; THENCE N89"23'59"E, 184.27 FEET TO THE POINT OF BEGINNING.

CONTAINING APPROXIMATELY 79.38ACRES+/-,

VILLAMAR
COMMUNITY DEVELOPMENT DISTRICT

ENGINEER'S REPORT
FOR CAPITAL IWROVEMENTS

Prepared for:

BOARD OF SUPERVISORS VILLAMAR
COMMUNITY DEVELOPMENT DISTRICT

Prepared by:

DENNIS WOOD ENGINEERING, LLC 1925 BARTOW ROAD LAKELAND, FL 33801
PH: 863-940-2040

January 3, 2019

VILLAMAR
COMMUNITY DEVELOPMENT DISTRICT

TABLE OF CONTENTS
I.	INTRODUCTION	1-2
TI.	PURPOSE AND SCOPE	2
III.	THE DEVELOPMENT	3
fV.	THE CAPITAL IMPROVEMENTS	3
V.	CAPITAL IMPROVEMENT PLAN COMPONENTS	4
Storanwater Management Facilities	4
Public Roa.dways......................................................................................................................................................................._ 5 Water and Wastewater Facilities	5-6
Off-site Improvements	6
Amenities and Parks................................. , .......... ,	6
Electric a11d Ligltting	6
Entry Peat\1re., .. ............. , , ...... .............. , .••••..... , . 1 . . . . . . . . . . . . . , • • • • • • • • ,	� 7
Miscellaneous..........................................................................................,	7
VI.	PERMITTlNG ······..····..·····..····••4•·······•t■tl••···..·········•.................4,1••·········..·····••11••········......., 	8-9
VII.	RECOMMENDATION	9
VITT.  REPORT MODIFICATION..............,	9
TX.	CONCLUSION	10

LIST OF EXHIBITS

EXHIBIT 1- Location Map EXHIBIT 2- Legal Description EXHIBIT 3- District Boundary Map EXHIBIT 4- Zoning Map
EXHIB IT 5- Future Land Use Map
EXHIBIT 6- Utility Location Map & Drainage Flow Pattern Map EXHIBJT 7- Summary of Opinion ofProbable Costs
EXHlBIT 8- Summary of Proposed Distric t Facilities EXHIBIT 9 - Proposed Site Plan

ENGINEER'S REPORT VILLAMAR
COMMUNITY DEVELOPMENT DISTRICI'

I.	INTRODUCT(ON
The Villamar Community Development District (the "District") is west of CR 653 and south of Eloise Loop Road in Winter Haven (the "City"), Polk County, (the "County"), Florida. The District currently contains appl'oximately 153.65 acres, and is expected to consist of 642 single family lots, recreation / amenity areas, parks, and associated infrastructure.

The CDD was established under City Ordinance No. 0- J 8-70 which was approved by the City Commission on November 26, 2018 The District will own and operate the public roadways and stormwater management facilities, as well as the landscape, irrigation, signage, and recreational facilities within the development.

Public improvements and facilities financed, acquired, and/or constructed by the District
will be designed and constructed to conform to regulatory criteria from the City, the County, Southwest Florida Waler Management  District  (SWFWMD), and other applicable
agencies with regulatory judsdiction over the development.	An overall estimate of probable cost of the public improvements is provided in Exhibit 7 of this report.

This "Capital Improvement Plan., or "Repol't" reflects the present intentions ofthe District and the landowners. It should be noted that the location of proposed facilities and improvements may be adjusted during the final design, pennilting, and implementation
phases. It should also be noted that these modifications arc not expected to diminish the
benefits received by the property with.ill the District. The District reserves the right to make l'easonable adjustments to the developmentphm to meet npplicnble regulntory requirements of agencies with jurisdiction over the development, while maintaining comparable level of benefits to the lands served by the improvements. Changes and modifications are expected as changes in regulatory criteria are implemented.

Page l

Implementation ofany proposed facilities or improvements outlined in thjs Report requires written approval from the District's Board of Supervisors. Estimated costs outlined in this report are based on best available in.fonnation, which includes but is not limited to previous experience with similar projects. Actual costs could be different than estimates because final engineering and specific field conditions may affect construction costs.

All roadway improvements including sidewalks in the right-of-way and storm drainage collection systems (from the curb inlets to their connection to lhe Stormwater ponds) within the development will be maintained by the District. Water distribution, reclaim water, and wastewater colJection systems (gravity lines, force mains, and lift stations) will, upon completion, be dedicated to the City for ownel'ship and maintenance.

ll.	PURPOSE AND SCOPE

The purpose of this Report is to provide engineering support to fund improvements in the District. This Reporl will identffy the proposed public infrastrncture to be constructed or acquired by the District along with an opinion ofprobable cost.

Contained within this Repo11 is a brief description of the public infrastructure to be constructed or acquired by the District. The District will finance, construct, acquil'e, operate, and maintain all or specific portions of the proposed public infrastructure. An assessment methodology consultant has been retained by the District, who will develop the assessment and financing methodology to be applied using this Report.

The predominant portion of this Report provides descriptions of the proposed public infrastructure improvements, detennination of estimated probable construction costs, and the corresponding benefils associated with the implementation of the described improvements. Detailed site construction plans and specifications have not yet been completed and pennilled for the improvemenls described herein. The engineer has
considered, and in specific instances has relied upon, the information and documentation prepared or supplied by others, and information that may have been provided by public entities, public employees, the landowner, site construction contractors, other engineering
professionals, land surveyors, the District Board of Supervisors, and its staff and
consultants.
Page 2

THE DEVELOPMENT
The development will consist of 642 single family homes and associated infrastructure ("Development"). The Development is a planned residential community is located on the west of CR 653 and south of Eloise Loop /road in the City of Winter Haven and lies within Section 22 and 23, Township 29 South, Range 26 East, all within the City. The Development has received zoning approval by the City. The approved zoning is PD and the property has an underlying Future Land Use Designation of RL (Residential Low Density). RE (Residential Estate, and CON (Conservation). The development will be constructed in three (3) phases.

THE CAPITAL IMPROVEMENTS
The Capital Improvement Plan, (the '"CIP"), consists of public infrastructure in Phases I, 2, and 3. The primary ponions of the CIP will entail stormwater pond construction, roadways built to an "urban" typical section, water, reclaim water and sewer facilities and off-:site improvements (including turn lanes and extension of water and sewer mains to serve the development).

There will also be stormwater structures and conveyance culverts within the CIP which wil I outfall into the on-site retention ponds. These structures and pond areas comprise the overall stormwater facilities of the CIP. Installation of the water distribution and wastewater collection system will also occur at this time. Below ground installation of power, telecommunications and cable TV will occur, but will not be funded by the District. Undergrounding of wires for installation of street lights within the public right ofway will be funded by the District.

As a part of the recreational component of the CIP, a public park/amenity center will be constructed within the development and the location shall have easy access to the other portions of the District. The public park/amenity center will be accessed by the public roadways and sidewalks.

Page 3

CAPITAL IMPROVEMENT PLAN COMPONENTS
The Capital Improvement Plan inc]udes the following;

Stormwater ManagementFacilities
Stonnwater management facilities consisting of stonn conveyance systems and retention ponds m-e contained within the District boundaries. Stonnwatcr nms off via roadway curb nnd gutter to storm inlets. Storm culverts convey the runoff into the proposed retention ponds for water quality treatment and atlcnuatio�. The proposed stol'mwater systems wiU
utilize dry retention and/or wet retention for biological pollutant assimilation to achieve
waler quality treatment. The design criteria for the District's stonnwater management systems is regulated by the City, the County, and the SWFWMD. There is a known surface water, (Crystal Lake) and there are natmal wetlands on the west side ofthe Development. No impacts to the wetlands or lake are anticipated.

Federal Emergency Managemenl Agency Flood Insurance Rate Map (FEMA FIRM) Panel No. 121 05C-0530O (dated 1 2/22/201 6) demonstrates that the majority of the property is located within Flood Zone X with the remainder in AE. Based on this infom1ation and the site topography, it does not appear that floodplain compensation is required. If floodplain compensation is required, flood compensation shall be in accordance with Southwest Florida Water Management. City, and County criteria

During the construction of stonnwater management facilities, utilities and roadway improvements. the contractor will be required to aclhere to a Stormwarer Pollution
Prevention Plan (SWPPP) as required by Florida Department ofEnviromnental Protection (FDEP) as delegated by the Environmental Protection Agency (EPA). The SWPPP will be prepared to depict for the contractor the prnposed locations of required erosion control measures and staked turbidity barriers specifically along lhe down gradient side of any proposed construction activity. The site contractor will be required to provide the necessary reporting on various forms associated with erosion control, its maintenance and any rainfall events that occllr during constmction activity.

Page 4

Public Roadways
The proposed public roadway sections ore to be 40' R/W with 24' of asphalt and Miami CUl'b or Type F curb and gutter on both sides and 80' R/W with 24' ofasphalt with roadside swales and sidewalks on both side. The proposed roadway section will consist ofslabiJized subgrade. lime rock, crushed concrete or cement treated base and asphalt wearing surface. The proposed curb is to be 2' wide nnd placed along the edge of the proposed roadway section for purposes of protecting the integrity of the pavement and also to provide sto1111water runoffconveyance to the proposed stormwater inlets. The 80' R/W section shall be a rural section constructed in accordance with FDOT, County, and City specifications. Underdrain is provided as necessary to control groundwater and protect the roadway base material.

The proposed roadways will also require signing and pavement markings within lhe pubJic rights•of-way, as well as street signs depicting street name identifications, and addressing, which will be utilized by the residents and public. As stated above, the District's funding
of roadway construction will occur for all public roadways.

Water. Reclaim, and Wastewater Facilitiei,
A potable water system inclusive of water main, gate valves, fire hydrants and appurtenances will be installed for the Development. The waler service provider will be the City of Winter Haven Public Utilities. The water system will be a ..looped,. system. These facilities will be installed within the proposed public rights-of-way within the District. Th.is water system will provide the potable (domestic} and fire protection services which will serve the entire District.

A domestic wastewater col1ection system inclusive of gravity sanitary sewer mains and sewer lateL·als will be installed. The gravity sanitary sewer mains will be 8" diameter PVC. The gravity sanitary sewer lines will be placed inside ofthe proposed public rights�of-way, under the proposed paved roadways. Branching off from these sewer lines will be laterals to serve the individual lots. A lift station is anticipated for this CIP. Flow from lhe lift station shall be connected to either a force main on site or along CR 653.
Page 5

Reclaimed water is available for this site. The reclaim water lines will be installed onsite to provide irrigation within the public right of way and amenity/park area. The reclaimed water system is funded by the District. Any water, sewer. or reclaim water pipes or facilities placed on private property will not be publicly funded.

orr-s;te Improvements
The District wil I provide funding for the anticipated tum lanes at the development entrance. The site construction activities associated with the CIP are anticipated for completion by phases based on the following estimated schedule: Phase I in 201 9-2020; Phase 2 in 2020- 2022; Phase 3 in 2021-2023. Upon completion of each phase of these improvements, inspection/certificalions will be obtained from the SWFWMD; the Polk County Health Department (water distribution system}, Florida Department of Environmental Protection (FDEP) (wastewater collection) and the City.

Amenities and Parks
The District will provide funding for an Amenity Center to include the following: parking area, pavilion with restroom facilities, pool, tot lot, dog park/all-purpose play field, and walking trails around the Amenity Center.

EJec;trjc and Lightin:
The electric distribution system thru the District is currently planned to be underground. The District presently intends to fund and construct the electric conduit, transformer/cabinet pads, and electric manholes required by TECO. Electric facilities will be owned and maintained by TECO after dedication, with TECO providing underground electrical service to the Development. The COD presently intends to fund the cost of undergrounding of electric conduit for the installation ofthe street lighting along the internal roadways within the CDD. These lights will be owned, operated and maintained by TECO after dedication, with the District funding maintenance services.

Page 6

Entry Feature
Landscaping, irrigation, entry features and walls at the entrances and along the outside boundary of the Development will be pmvided by the District. The irrigation system will use reuse water as provided by the City of Winter Haven. The master reuse watennains to the various phases of the development will be conslmcted or acquired by the COD with
District funds and subsequently turned over to the City of Winter Haven. Landscaping fol' the roadways will consist of sod, annual flowers, shn1bs. ground cover and trees for the
intemal roadways within the CDD. Perimetel' fencing will be provided at the site entrances and perimeters. These items will be funded, owned and maintained by the COD.

Miscelloneous
The stormwatcr improvements, landscaping and irrigation, recreational improvements, street lighting, and certain pe1mits and professional fees as described in this report, are being financed by the District with the intention for benefiting all of the developable real property within the District. The construclion and maintenance of the pl'oposed public im))rovements will benefit the development for the intended use as a single�family planned development.

Page ?

PERMITTING
Construction permits for all phases are required and include the SWFWMD Environmental Resource Permit (ERP). Florida Department ofEnvironmental Protection (FDEP), Polk County Health Department. a11d City construction plan approval. There may be a need for an Army Corps ofEngineer (ACOE)jurisdictional wetlands within the Phase 3 CIP boundaries,

Following is a summary ofrequired permits obtained and pending for the constmction of the public infrastructure improvements for the District:

PHASE 1

Pemlils / Ap1n-ovals	Approval / Expected Date	
Zoning Approval {City of Winter Haven)	Approved	
Preliminary Plat (City ofWinter Haven)	Not Required	
SWFWMDERP	November 2018	
Conslmction Permits (City of Winter Haven)	November 2018	
Polk County Health Department Water	November 2018	
FDEP Sewer
FDEP NOI	November 2018
January 2019	
PHASE 2

PeJ"mits / Approvals	A1•proval I Expected Date	
Zoning Approval (Winter Haven)	Approved	
Preliminary Plat (City of Winter Haven)	Not Required	
SWFWMD ERP	f'ebruary 2019	
Construction Pennits (City ofWinter Haven	Febniary 20l 9	
Polk County Health Depa11ment Water	February 2019	
FDEP Sewer	February 2019	
FDEPNOI	February 2019	

Page s

PHASE J

PermUs / AJlprovals	Approval/ Expected Date	
Zoning Approval (City of Winter Haven)
Preliminaiy Plat (City of Winter Haven)	Approved
Not Required	
S\VFWMD ERP	July 2020	
Const111ction Pennits (City of Winter Haven)	July 2020	
FOEP Water	July 2020	
FDEP Sewer	July 2020	
FDEPNOI	Jul)' 2020	

RECOMMENDATION
As previously described within this report, the public infrastructure as described is necessary for the development and functional operation as required by the City. The site planning, engineering design and construction plans for the infrastructure are in accordance with the applicable requirements ofthe City ofWinter Haven. and the SWFWMD. It should be noted that the infrastructure will provide its intended use and function so long as the construction and installation is in substantial conformance with the design construction plans and regulatory permits.

items utilized in the Opin;on ofProbable Costs for this report are based upon proposed plan infrastructure as shown on constmction drawjngs incorporating specifications in the most current SWFWMD and the City regulations.

YIU. REPORT MODIFICATION
During development and jmplemenlation of the public infrastructure improvements as described for the District, it may be necessary to make modifications and/or deviations for the plans. However, if such deviations and/or revisions do not change the overall primary objective of the plan for such improvements, then the costs differences would not materially affect the proposed cost estimates.

Page 9

IX.	CONCLUSION

lt is our professional opinion that the public infrastructure costs for lhe CIP provided in this Report are reasonable to complete the construction of the public infiastructure improvemenls. Furthermore, the public infrastructure improvements will benefit and add value lo lands within the District at least equoJ to the costs ofsuch improvements.

The Opinion of Probable Costs of the public infrastructure improvements is only an estimate and is not a guaranteed maximum price. The estimated costs are based upon unit prices currently experienced on an ongoing and similar basis for work in the County, However, labor market. future costs of equipment, materials, changes to the regulatory pennitting agencies activities, and the actual construction processes employed by the chosen site contractor are beyond the engineel''s control. Due to this inherent opportunity for changes (upward or downward) in the construction costs. the total, final construction cost may be more or less than this eslimate.

Based upon the presumption that the ClP construction continues in a timely manner, it is our professional opinion that the proposed public infrastructure improvements when constructed and built in substantial conformance with the approved plans and specifications, can be completed and used for their intended function. Be advised that we have utilized historical cosrs and direct unit costs from site contractors and consultants in the County, which we believe to be necessary in ordel' to facilitate accuracy associated with the Opin;on ofProbable Costs. Based upon the information above, it is our professional opinion that the acquisition and constniction costs of the proposed CIP can be completed at the cost as stated.

Page 10 

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District Boundary

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VILLAMAR CD□

Engineering
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1925  BAATOW ROAD
lAKELAND. FL 33801

4.    262923-000000,013030	LOCATION MAP
6. 26292J.000000-014010

DENNIS· WOOD, l'R.0Ft:S510HAL ENGINEER
EMAIL: dennis@woodcivil.com

VILLAMAR
COMMUNITY DEVELOPMENT DISTRICT

PARCEL 1 (262922·D00000-01Z010), Parcel 2 (26Z92S-000000-032010), Parcel 3 (2&2923-000000·031010) THAT PART OF SECTIONS 22 ANO 23, TOWNSHIP 29 SOUTH, RANG E 26 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST ¼ OF THE NORTHWEST Y. OF SAiD SECTION 23; THENCE N 00'44'39"-W, AlONG THE WEST BOUNDARY THEREOF, A DISTANCE OF 662.14 FEETTO THE NORTH BOUNDARY OF THE SOUTH � OF THE NORTHEAST ¾ OF THE NORTHWEST " OF SAID SECTION 23; THENCE N·89°32'55"·E, ALONG THE NORTH BOUNDARY THEREOF A DISTANCE Of 1307.27 FEET TO
THE WEST LINE OF THE EAST 15.00 FEET OF SAIC SOUTH )S OF THE NORTHEAST X OF THE NORTHWEST M; THE NC£ S·00•45'04"•E, ALONG SAID WEST LINE, A DISTANCE OF 664.06 FEET TO THE SOUTH LINE OF
THE NORTHEAST M OF THE NORTHWEST ¼ OF SAID SECTION 23; THENCE S·B9'37'57"•W, ALONG SAID
SOUTH LINE A DISTANCE OF 4.00 FEET TO THE NORTHWEST CORNER OF NSUNOANCE RANCH ESTATES" AS RECORDED IN PLAT BOOK 77, PAGE 28 OF THE PUBLIC RECORDS OF POLK COUNTY, FLORIOA; THENCE s-oo·os•s9••.w, ALONG THE WEST BOUNDARY OF SAID PSUNDANCE RANCH ES.TATES", 678.40 FEET TO THE NORTH BOUNDARY OF LOT U OF SA!O, "SUNDANCE RANCH ESTATES"; THl:NCE
S-89"54'll"•W, ALONG THE NORTH BOUNDARY OF SAID "SUNDANCE RANCH ESTA.TES" AND THE NORTH BOUNDARY OF "SUNDANCE RANCH ESTATES PHASE TWO" AS RECORDED IN PLAT BOOK 80, PAGE 47, A DISTANCE OF 1305.26 FEET; THENCE CONTINUE WESTERLY ALONG THE NORTH BOUNDARY OF SAID "SUNDANCE RANCH ESTATES PHASE TWO" THE rOLlOWING FOUR (4) COURSES: 1) 5.30•21•23".w, 129.09 FEET; THENCE 2) s-00•03•19"-E, 596.81 FEET; THENCE 3) S-89"S0'21"•W, 1447.79 FEET; THENCE
4) S·S3"01'53"•W, 163.42 FEET TO THE EAST RIGHT·OF·WAY LINE Of THE CSX TRANSPORTATION RAILROAD; THENCE N-36°58'07"-W, ALONG SAID EAST RIGHT ·OF-WAY, A DISTANCE OF 1688.6'1 FEET
TO THE WEST LINE Of THE SOUTHEAST Y. OF THE NORTHEAST K OF TH£ AFOREMENTIONED SECTION 22; THENCE N•00"3�'O4"·W, AlONG SAID WEST llNE 135.17 FEET TO THE NORTHWEST CORNER OF THE SOUTHEAST ¼ OF THE NORTHEAST Y. OF SAID SECTION 22; THENCE S·89"38'0S"·E, ALONG THE NORTH UNE THEREOF, A DISTANCE OF 1338.55 FET TO THE WEST BOUNDARY OF THE AFOREMENTIONED SECTION 23; THENCE r-,.g9•41'Sl"·E, ALONG THE NORTH LINE Of THE SOUTHWEST ¼ OF THE NORTHWEST ¼ OF SAID SECTION 23, A DISTANCE OF 1325.08 FEET TO THE POINT OF BEGINNING.
CONTAINING 110.13 ACRES, MORE OR LESS.

,.._

THAT PORTION OF THE 60.00·FOOT-WIDE PlATTED RIGHT·OF•WAV FOR CHERRY BLOSSOM LANE AS SHOWN ON THE MAP OR PLAT OF "SUNDANCE RANCH ESTATES" AS RECORDED IN Pl.AT BOOK 77, PAGE 28, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, DESCRIBED AS:

BEGIN AT THE NORTHEAST CORNER OF THE SOUTH )1 OF THE NORTHWEST M Of SECTION 23, TOWNSHIP 29SOUTH, RANGE 26 EAST, POLK COUNTY, FLORIDA, AND RUN THENCE ALONG THE NORTHERLY
RIGHT-OF-WAY THEREOF N-89'43'21 "·E, 41.00 FEET TO THE NORTHEAST CORNER THEREOF; THENCE ALONGTHE EASTERlV R1GHT-OF•WAY THEREOF s-oo·os'12"-E, 60.48 FEET: THENCE DEPARTING SAID EASTERLY RIGHT-OF-WAY 5·89"23'59"•W, 60.00 FEETTO A POINT ON THE WESTERLY RIGKT-OF-WAY OF SAID CHERRY BLOSSOM LANE; THENCE ALONG SAID WESTERLY RIGHT-OF-WAY N·00"05'12"-W, 61.01 FEET TO THE NORTHWEST CORNER THEREOF; THENCE ALONG THE NORTHERLY RIGHT-OF-WAY THEREOF s.a9•4O'31"·E, 19.00 FEETTO THE POINT Of BEGINNING.

CONTAINING 3,641 SQUARE FEET, MORE OR LESS.

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PAGE 1 OF 2

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Engineering

OlflCE: (8611 940·11UO FAX: l16Jl 940·2044 CUl: 18631 662,0018
EXHIBIT 2
l92� BARTOW ROAO

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UC LAKELAtlD, FL 33801
CEtltllS WOOD, PROFESSlOHAl ENGINEER
EMAIL: dennlswoodengineerlng@gmall.com

VILLAMAR COD LEGAL DESCRIPTION

PARCEL4 (2629H-000000·013030)
THAT PART OF SECTION 23, TOWNSHIP 29 SOUTH, RANGE 26 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBEDAS FOUOWS:
BEGIN AT THE NORTHWEST CORNER OF THE SOUTH Y, OF THE NORTHWEST � OF THE NORTHEAST X OF SAIDSECTION 23; THENCE N•89'33'2S"·E, ALONG THE NORTH LINE OF SAID SOUTH Y. A DISTANCE OF 1321.03 FEET TO THE NORTHEAST CORNER OF SAID SOUTH ¾; THENCE S-00"35132" ·E, ALONG THE EAST LINE THEREOF A DISTANCE OF 636.67 FEET TO THE NORTH RIGHT-OF-WAY OF CUNNINGHAM ROAD; THENCE S•89'40'11"-W, AlONG SAID NORTH RIGHT·OF-WAV, A DISTANCE OF 1319.27 FEET; THENCE N·00•4S'04"·W, 634.08 FEET TD THE POINT OF BEGINNING.
CONTAINING 19.26 ACRES, MORE OR LESS,

AND
THE EAST 15.00 FEET OF THE SOUTH ½ OF THE NORTHEAST .K OF THE NORTHWEST ¼ OF SECTION 23, TOWNSHIP 29 SOUTH, RANGE 26 EAST, POLK COUNTY, FLORI DA.
CONTAINING 0.23 ACRES, MORE OR LESS. P.ARCEl S (262923-000000-013060)
THE SOUTHERLY 30.00 FEET THEREOF FOR ROAD RIGHT OF WAY OF THE SOUTH X OF THE NORTHWEST ¼ OF THE NORTHEAST ¼ OF SAID S ECTION 23, TOWNSHIP 29 SOUTH, RANGE 26 EAST, POLK COUNTY, FLORIDA.

THE NORTHERLY 30.00 FEET THEREOF FOR ROAD RtGHT OF WAY OF THAT PART OF THE SOUTHWEST ¼ OF THE NORTHEAST
¼ OF SECTION 23, TOWNSHIP 29 SOUTH, RANG£ 26 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS:

COMMENCE AT THE NORTHEASTCORNER OF THE SAID SOUTHWEST � OF THE NORTHEAST Y. FOR A POINT Of BEGINNING; THENCE RUN ALONG THE EAST BOUNDARY UNE OF SOUTHWEST X OF THE NORTHEAST� S· 00"35'01" ·E, A DISTANCE OF 632,69 FEET; THENCE .RUN S· g9•23•59". W, A DISTANCE OF 604.86 FEET; THENCE RUN S· 00'36'01"-E, A DISTANCE OF
270.00 FEET; THENCE RUN S-89"54'14"-W, A DISTANCE OF 685.00 FEET; THENCE RUN N-DO'OS'46"•W, A DISTANCE OF
901.57 FEET TO A POINT ON THE NORTH BOUNDARY LINE OF SAID SOUTHWEST X OF NORTHEII.ST ¼; THENCE RUN ALONG SAID BOUNDARY LINE NORTH 89.36'5 r-E, A DISTANCE OF 1281.91 FEET TO THE SAID POINT OF BEGINNING.
CONTAINING 1.79 ACRES, MORE OR LESS.

PARC£L 6 (262923·000000·014010)
THAT PART OF SECTION 23, TOWNSHIP 29 SOUTH, RANGE 26 EAST, POLI( COUNTY, FLORIDA, BEING MORE PARTICUlARLY DESCRIBED AS FOLLOWS:
BEGIN AT THE NORTHEAST CORNER OF LOT 1, "SUNDANCE RANCH £STATES" AS RECORDED IN PLAT BOOK 77, PAGE 28 OF "rHEPueuc RECORDS OF POLK COUNT'/, FLORIDA; THENCE WESTERly ALONG THE NORTHERLY BOUNDARY THEREOF THE FOLLOWING THREE (3) COURSES: 1) S·89"22'39"·W, 604,74 FEET; THENCE 2) S-00°3S'59"•E, 269.89 FEET; THENCE 3J S,89"50'SS"•W, 684.91 FEET TO THE EASTERlY RIGHT-OF •WAY OF CHERRY BLOSSOM LANE AS DEPICTED ON THE AFOREMENTIONED PLAT OF
"SUNDANCE RANCH ESTATESU; THENCE N-oo·os'57"-E, ALONG SAID EAST RIGHT-OF-WAY, A DISTANCE OF 870.30 FEET TO THE SOUTH RIGHT·OF-WAV OF CUNNINGHAM ROAD; THENCE N,a9•40•1ra.£, AlONG 51).IO SOUTH RIGHT·OF•WAY A DISTANCE OF 1278,58 FEET; THENCE S-00"38'34"·E, 599.45 FEETTO THE POINT OF BEGINNING.
CONTAINING 21.93 ACRES, MORE OR LESS.

CDD TOTAL ACREAGE 153,65 +/·	PAGE 2 OF 2

D_ennis	,�,.F",0z.,."i- i.,_

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fAX;  186Jl 9�0·2GH

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Engineering	1925 BARTOW ROAD
uc    lAkElANO, fl 31601
oe1m1s wooo. flllOfESSIOlfAl ENGINEER
EMAIL: dennlswoodenglneering@gmall.com

EXHIBIT 2   VILLAMAR CDD LEGAL DESCRIPTION

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Ch1:rry 6i oss�
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DISTRJCT
BOUNDARY'	g

DISTRICT BOUN.DARY

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PARCEL.IS NOT INCLUDED INTHE CDD

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u.c	LAKEl.ANO, FL 33801
DENNIS WOOD, PROFfSSIONAl. ENGINEER
EMAIL: dennis@woodcivil.com

LEGEND
- District Boundary

EXHIBIT 3

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VI LLAMAR CD
DISTRICT BOUNDARY MAP

NO SCAL£

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18631 94&-2044

LEGEND

EXHIBIT 4 VILLAMAR COD

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. E-nginee

ring

1m1 m-001s	CJ PD . PLANNED DEVELOPMENT
192s BARTOW ROAD

ZONING MAP

w:	l.Ak'.ELANO, FL 33801
DENNIS WOOD, PROFESSIONAL fN�NeER
EMAIL:  dennis@woodclv1l.com

CIT Y OF WINTER HAVEN

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OFF!C:E: 18631 94&-204D

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LEGEND

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EXHIBIT 5

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F�:     1863) 940-Z044
CELL: (863) 662-0D18

192S BARTOW ROAD LAXElANO. FL 3:1801
OENNIS WOOD, PROFESSIONAL ENGINEER
EMAIL: dennis@woodcivil.com

C:J
CJ

District Boundary
RL - RESIDENTIAL lOW DENSrTY RE - RESIDENTIAL ESTATE
CON - CONSERVATION

VILLAMAR COD FUTURE LAND USE MAP CllY OF WINTER HAVEN

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PROPOSED VILLAMAR CDD

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Engineering
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OFFICE: (IOI 940-21140
FAX:  !863) 940-2044
CELI.:   (863) 66M018

192S BARTOW IIOAD
LAKEtAND. FL 33801

LEGEND
---- DISTRICT BOUNDARY
(W) - EXISTING WATER MAIN AS NOTED
(FM)- EXISTING FORCE MAIN AS NOTED

COMPOSITE EXHIBIT 6 VILLAMAR COD
WATER & FORCE MAINS

DENNIS WOOD, PROFESSIONAL ENGINEER
EMA(L: dennis@woodcivil.com

/	/
PROPOSED
VILLAMAR CDD

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Wood ·

D-ennis

.   iii..	OFRCE: 18631 94::;:

COMPOSITE EX	l	IT 6

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LEGEND

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Dtstn·ct Boundary

VI LLAMAR C��

-  -Engineerint:

-----era,·nage  Flow

DRAINAGE MAP

DENNIS WOOD, PROFESSIONAL

1&2;e�D. FL 33aot

EMAIL:  denm·s@woodclEv,·r.com

-

Exhibit 7
Villamar Community Development Dfstrlct Summary of Probable Cost

Num�@r of Loh		1Q§	234	m	642	
l1J[ri!1tructura cu	f.!1m!	fll..m..2	fbm.1	!21!!.
2021-202a	 	
$	200,000	s	650,000	
	2019-2020	 		2020-2022		
Offslte Improvements 1sn11	$	210,00D	$	240,000		
Stormwater Ma nagement<211,xsi111	$	2,586,465     	$	2,930,000	$	2,500,000	$	8,016,465	
Utllltles (Water, sewer, & Street Ughtln1) 15KtK91	$	1,217,160	$	1,'140,000	$	1,230,000	$	3,887,160	
Roadway 14lllK71	$	940,000	s	1,012,000	$	912,000	$	2,864,000	
Ent,y Feature & Signage C7ICII	$	100,000	$	50,000	$	50,000	$	200,000	
Parks �nd Recreation Facllltle!I 111111	$	4D0,000	$	200,000	$	200,000	$	800,000	
Contingency	$	270,000	$	300,000	$	240,000	$	810,000 	
			:s	�. ;�_}· ·2,,000, .,,	t	. 1'7;. 2•2:.,7c J_6_.  2._ _. 5.'1	
TOTAL ,.	�- :s;. 7,. 2. 3�si'  s_	
�		

Notes:
Infrastructure consists of public roadway improvements, Stormwater management facilities, master sanitary sewer lift station and utilities, entry feature, landscaping and signage, and parks and recreational facllltles.
Excludes grading of each lot both for initial pad construction and In conjunction with home construction, which will be provided by home builder.
Includes Stormwater pond excavation.
Includes sub-grade, base, asphalt paving, curbing, and civil/site engineering of public roads.
Includes subdivision infrastructure and civil/site engineering.
Not used.
Estimates are based on 2018 cost.
Includes entry features, signage, hardscape, landscape, irrigation and fencing.
CDO wiU enter Into a Lighting Agreement with Tampa Electric forthe street light poles and lighting service. Only undergrounding ofwires In public right-of-way and on District land Is Included.
Estimates based on Master Infrastructure to support development of 642 lots.

Exhibit 8 VIiiamar

Ownership

County

Community Development District Summary of Proposed District Facilities

District  Infrastructure

Lift Stations/Water/Sewer

Offsite Improvements Stormwater Facilities

Street lighting/Conduit

Roadway

Entry Feature & Signage
-Parks-& -Recreation Facilities

Construction

District
District

District

District

District District

District

District/City
District

District

City of Winter Haven

District

District

Capital Financing• District Bonds

District Bonds District Bonds District Bonds

Opera�lon and

District Bonds

District Bonds

Maintenance County District

District Bonds

City of Winter Haven District
District/City District District

costs not funded by bonds will be funded by the developer.

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Composite Exhibite

SUPPLEMENTAL
ASSESSMENT METHODOLOGY FOR PHASE 1

FOR

VILLAMAR
COMMUNITY DEVELOPMENT DISTRICT

Date: June 12, 201 9

Prepared by

Governmental Management Services - Central Florida, LLC 135 W. Central Blvd1 Suite 320
Orlando, FL 32801

Table of Contents
1 .0 lntroduction ..............................................................4................,..1,••······················· 	3
Purpose	3
Background	3
Special Benefits and General Benefits	4
1 .4 Requirements ofa Valid Assessment Methodology	5
1. 5 Special Benefits Exceed the Costs Allocated	5
2.0 Assessment Methodology ........................................u, 	5
2.1 Overview .. ....... ......... .. .......,	5
Allocation of Debt.	6
Allocation of Benefit	6
Uenability Test Special and Peculiar Benefit to the Property	7
Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay
Non-Ad Valorem Assessments	7
3.0 True-Up Mechanism..., ..,..............................................................,, 	8
4.0 Assessment Roil.........................................�····......................�...............,,......................................." 	9
5.0 Appendix .................................................................................. ............................................" 	10
Table 1 : Development Program	10
Table 2: Capital Improvement Cost Estimates	11 
Table 3: Bond Sizing	12 
Table 4: Allocation of Improvement Costs	13 
Table 5: Allocation of Total Par Debt to Each Product Type	14 
Table 6: Par Debt and Annual Assessments	15 
Table 7: Preliminary Assessment Roll ...... .....,.	16 

GMS-CF, LLC does not represent the Villamar Community
Development District as a Municipal Advisor or Securities Broker nor is GMS-CF, LLC registered to provide such services as described in Section 1 5B of the
Securities and Exchange Act of 1934, as amended. Similarly, GMS-CF, LLC does not provide the Villamar Community Development District with financial
advisory services or offer investment advice in any form.

Introduction
The VillaMat Community Devc1opment District {the "District") is a local unit of special-purpose government organized and existing under Chapter 190, Florida Staturos as amended. The District has issued $7,180,000 of tax exempt bonds (the "Bonds'') for the purpose of financing certain infrastructure improvements within Phase 1 ("Capital lmprovcment Plan") within the District more specifically described in !:he Engineer's Report for Capital Improvements dared January 3, 2019 as amended and supplemented by the Supplemental Engineer's Report dated March 20, 2019 prepared and each by Wood & AssociatC's Engineering, LLC (formerly known as Dennis Wood Engineering, LLC), as may be amended and .supplemented from lime to time (the "Enginee1's Report"). The District anticipates the construction of all or a portion of the Phase 1 Capital Improvements or CApital lmprovement Plan ("Capital Improvements") that benefit property owne1s within Phase 1 of the District.

Purpose
This Supplemental Assessment Methodology (the "Assessment Report") provides for an assessment methodology that .allocates the debt to be incurred by the Distrkt to benefiting properties within tht> Phase 1 of the District. This Assessment Report supplemt"nts previously approved Master Assessment Methodology, dated December 5, 2018. This Assessment Report allocates the debt to properties based on the special benefits each receives from the Phase 1 Capital Improvements. This Assessment Report is designed to conform Lo the requirements of Chapters 190 and 170, Florida Slatutes with respect to special assessments and is consistent with our understanding of case law on this SUbject

The District intends to impose non ad valorem special assessments ("Special Assessments") on the b<mefited lnnds within Phase 1 of the District based on this Assessment Report, which includes Special Asses&-ments securing repayment of the Bonds (the "Bond Special Assessments"). It is anticipated that all of the proposed Special Assessments will be collected through the Uniform Method of Collection de;cribed in Section 1 97.3632, Florida Statures or any other legal means available to the District. It i.� not the intent of this Assessment Report to address any other assessments, if applicable, that may be levied by the District, n homeowners association, or any other unit of government.

Background
The District currently includc5 approximately 153.65 acres in the City of Winter Haven wi!:hin Polk County, Florida, The development program for the Dishict currently envisions approximately 642 residential units. Pbase 1 of the project is anticipated to have 334 units and is approximately 79.38 acres. The proposed development program is depicted in Table 1. It is recognized that such development plan may change, al\d this Asses.sment Report will be modified or supplemented accordingly.

The Capital Improvements contemplated by l:he District in the Capita.I Improvcment Plan will provide facilities that benefit certain property  within  the Phase 1 of the Oi:<;trirt. Specifically, the District wm construct and/or .-.cquirc certain offsile improvements, stormwater D'lanagement facilities, utility facilities, roadways, entry features, and park and amenity features within Phase 1. The acquisition and construction cosls are
summarized in Table 2.

The assessment methodology is a four-step process.

The District Engineer must first determine the public infrastructure improvements that may be provided by the lJistrict and the costs to implement the Capital Improvements.
The District Engineer dclermines the assessable acres that benefit from the District's Capital Improvements.
A calndation is made to determine the funding amounts necessary to ac:quirc and/ or construct the Capital Improvements.
This amount is initially divided equally among the benefited properties on a prorated assessable acreage �is. Ultimately, as land is platk!d, lhis amount wiJJ be assigned to each of the benefited properties based on the number and type of platted unils.
Special Benefits and General Benefits
Capital Improvements undertaken by the District create special and peculiar btmefits to the property, different in kind and degree, for properties wilhin its borders as well as genera) benefits to the public at large.

However, as discus6ed within this Aesessment Report, these general benefits are inddental in nature and are readily distinguishabJe from the special and peculiar benefits, which accrue to property within Phase 1 of the Oio;. trict. The implementation of the Capital Improvement PJan enables properties within the boundaries of Phase 1
of the District to be developed. Without the District's Capital Improvement P1an, there would be no infrastructure to support dc-veJopment of land within Phase 1 of the
District. Without these improveme11ts, development of the property within Phase 1 of the District would be prohibited by law.
The general public and prol)f.rty owners outside of Phase 1 of the DislTict may benefit from the provision of the Capilal Improvements. However, any such benefit will be incidental for the purpose of the Capital Improvement .Plan, which is designed solely to meet the needs of property within Phase 1 of the District. Properties outs.idc of Phase 1 of the District boundaries do not depend upon the District's Capital Improvements. The property owners within Phase 1 of the District are therefore receiving special benefits not received by tht! general public and those ou�ide the
District's boundaril!s.

Requirements of a Valid Assessment Methodology

TI1crc ate two requirements under .rlorida law for a valid special assessment

The properties must receive a special benefit from the Capital Improvements being paid for.
The assessments must be fairly and l'easonably allocated or apportioned to the properties being assessad based on the special benefit such properties receive.

Florida law provides for a wide application of specia1 assessments that meet these two characteristics of special assessments.

1,5	Special Benefits Will Equal or Exceed the Costs Allocated
The spedal benefits provided to the property owners within Phase 1 of the District will be equal to or greater than the costs associated with providing these benefits. The District El,gineer estimates that the District's Capital Improvement Plan that ii; necessary to support full development of property within Phase 1 of the District will cost approximately $8,955,000. The District's Underwriter has determined that the final inancing costs required to fund the Capital Improvement Plan costs, the cost of issuance of the Bonds, the funding of a debt service reserve account and capitalized interest, will be 7,180,000. The Developer will fund additional expensee needed to complete the Capital Improvement Plan. Without the Capital Improvement Plan, the property within Phase 1 of the District would not be able to be developed and occupied by future residents of the community.

Assessment Methodology
Overview
The District has issued $7,180,000 1n Bonds to fund a portion of the District's Phase 1 Capital Improvement Plan, provide for capitalized. interest, a debt service reserve account and pay costs of issuam..--e.  It is the purpose of this Assessment Report to allocate the $7,180,000 in debt to the properties within Phase 1 of the District benefiting from the Capital fmprovemcnt Plan , This report may be supplemented to reflect changes in development plan.

Table 1 identifies the land uses and lot sides in the development as identified by the Developer within Phase 1 of the District. The District has commissioned an Engineer's Report that includes eslimated con.struction costs for the Capital Improvements needed to support the development of Phase 1, which these construction costs are outlined in Table 2. The Capital Improvements needed to support the development are described in detail in the Engineer's Re-porl and are

estimated to cost $8,955,000. Based on the estimated costs, the size of the Bond issue under current market conditions needed to generate funds lo pay for a portion of the Capital Improvements and related costs was determined by the District's Underwriter to total $7,180,000. Table 3 shows the breakdown of the Bond sizing.

Alloeation of Debt

AHocation of debt is a continuous process until the development plan for Phase 1 of the District is completed. Until the platting process occws, the Capital Improvements funded by Phase 1 District Bonds benefits all acres within Phase 1 of the District

The initial asse55ment5 will be levied on an equal basis to all groRr;. acreage wiUtln
Phase 1 of the District. A fair and reasonable methodology allocates the debt incurred by the District proportionately to the properties receiving the special benefits. At this point ali of the lands within Phase 1 of the District are benefiting from the Capit.al Improvements.

Once platting or the recording of a declaration ot condominium of any portion of Phase 1 of the District into individual lots or units ("Assigned Properties") has begun, the Special Assessments will be levied to the Assigned Properties based on the benefits they receive. on a first platted, first assigned basis. The "Unassigned Properties" defined as property that has not bee?n platted or subjected to a declaration of condominium, will continue to be assessed on a per �ere basis. Eventually the development plan will be completed and the debt relating to the Bonds will be allocated to the assigned properties within Phase 1 of the District, which are the beneficiaries of the Capital Improvement Plan, as depicted in Table 5
and Table 6.  If there are changes to the development plan, a true up of the
assessment will be calculated to determine if a debt reduction or true--up payment from the Developer is required. The process is outlined in Section 3.0.

The assignment of debt in this Assessment Report sets forth the process by which debt is apportioned. As mentioned herein, this report may be supplemented to reflect actual bond terms orchange i11 development plart

Allocation of Benefit

TI1e Capital Improventen t Plan consists of offsite .improvements, stom,watcr management facilities, utility facilities, roadways, entry features, and park and amenity features and professional fees along with related incidental costs. TI1ere is one product type within lhc planned development. The single family home has been set as the base unit and has been assigned one equivalent residenlial unit ("ERU"). Table 4 shows the allocation of benefit to the particular product type. 1t is important to note that th.e benefit derived from the Capital Improvements on a particular unit will exceed the costthat the unit will bl? paying for such benefits.

Lienability Test: Special and Peculiar Benefit lo the Property
Construction  and/or acqui�itio11  by  the  District  of  its  proposed  Phase  1  Capita) lmprovemenl5 will  provide several  types of S)'11h.tms, facilities  and  services for its residents. These indude offsite improvements, stormwa�r management facilities, utility facilities, roadways, entry features, and park and amenity features. The benefit from the Capital Im provements accrue in differing amounts and arc somewhat dependenl on lhe product type receiving the special benefits peculiar to that property type, which flow from the logical relationship of the Capital Improvements to the assigned properties.

Once these determlnations are made, they are reviewed in the light of the special benefits peculiar to the property, which flow to the properties as a result of their logical connection from the Capital Improvements actually provided.

For the provision of the Capital Improvem�t Pl.an, the special and peculiar benefits are:

the added use o( the property,
added enjoyment of the property, and
the increased marketability and value of the property.
These 9pecial and peculiar benefits are real and asceTtainablc, but are not yet capable. of being cakulated as to value with mathematical certainty. However, each is more valuable than either the cost of, or the achJal Special Assessment levied for the Capital Improvement as allocated.
Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments
A reasonable estimate of the proportion of special and pecuJiar benefits rcccivcd from the public impmvements described in the Capital Improvement Plan is delineated in Table 5 (expressed as Allocation of Par Debt per Product Type). This is also shown on Table 7 depicting Allocation of Par Debt per Product Type.
The determination has been made that the duty to pay the non-ad valorem special assessments is fairly and reasonably apportioned because the special and peculiar benefits to the property derived from the acqujsition and/or co11struction of the Capital Improvement Plan have been apportioned lo the property within Phase 1 of the District according to reasonable estimates of the special and peculiar benefits provided consistent with the product type of assignable properties.

Accordingly, no acre or pared of property within the boundaries of Phase 1 of the DistTict will have a lien for the payment of any Special Assessment more than the det-ermined special benefit peculiar to that properly and therefore, the debt alloc.ttion will not be increased more than the debt allocation set forth in this Assessment Report.
]n acc01·dance with the benefit allocation suggested for the product typeR in Table 4, a total debt per unit and an annual assessment per unit have been calculated for each product type (Table 6). These amounts ri:?present the preliminary anticipated per unit debt allocatiol1 assuming all anticipated assigned properties are built and sold as planned, and the entire proposed Capital Improvement Plan is constructed.

3.0	True Up Mechanism

Although the District does not process plats, declaration of condominiums, site plans or revisions thereto, it does have an important role to play during the course of platting and site planning. Whenever a plat, declaration of condominium or site plan is approved, the District must allocate a portion of its debt to the property according to trus Assessmen.t Report outlined hert-!in.  In addition, the District must also prevent any buildup of debt on Unassigued Properties. Otherwise, the land could be fully conveyed and/or platted without all of the debt being a11ocatcd. To preclude this, when platting for 25%, 50%, 75% and 100% of the units planned for platting has occurred within the District, the District will determine the amount of anticipated Bond Special Assessment revenue that remains on the Unassigned Properties, taking into account the full development plan of Phase 1 of the District. If the total anticipated T3ond Special Assessment revenue to be generated from the Assigned and Unassigned Properties is greater than or equal to the maximum annual debt service then no debt reduction or true-up payment is required. In the case that the revenue generated is less then the required amount then a debt reduction or true-, up payment by the landowner in the amount necessary to reduce the par amount of the outstanding 'Bonds plus accLiied interest to a level that will bl! supported by the new .net annual debt service assessments will be required.
lf a. true-up payment is made less than 45 days prior to an inte1·est payment date, the amount of accrued interest will be calculated to the next succeeding interest payment date.

Assessment Roll
The District wilt initially distribute the Special Assessments across the property within Phase 1 of the District boundaries on a gross acreage basis. As Assigned Prope.rties become known with certainty, the District will refine its allocation of debt from a per acre basis to a per unit basis as shown in Table 6. If the land use plan or product type changes, then the District will update Table 6 to reflect the changes as part of the foregoing true-up process. As a result, the assessment Hens are not finalized with certainty on any acre of land in Ph� 1 of lhe District prior to the time final Assigned Properties berome known. The current assessment roll is attached as Table 7

TABLE 1
VILLAMAR COMMUNl1Y DEVELOPMENT DISTRICT OEVELOPMENT PROGRAM
SUPPLEMENTAL ASSESSMENT METHODOLOGY FOR PHASE 1

Land Use Single Family Total Units

Total Assessible Units
334

334

ERU� per Unit (1) 1.00

Total ERUs

334

334

(1) Benefit is allocated on an ERU basis; based on density of planned clevelopment, wit!t Single Family= l ERU
Unit mii< is subject to change based on marketing and other factors

Prepared by: Governmental Management Service5 - Central Florida, LLC

TABLE 2
VILLAMAR COMMUNllY DEVELOPMENT DISTRICT CAPITAL IMPROVEMENT PLAN COST ESTIMATES
SUPPLEMENTAL ASSESSMENT METHODOLOGY FOR PHASE 1

Capital Improvement Plan Phase 1 ("CIP'')	(1)	Cost Estimate	

Offsite Improvements		
$340,000	
Stormwater Management		$4,170,000	
Utilities (Water, Sewer, & Street Lighting)		$2,000,000	
Roadway		$1,500,000	
Entry Feature & Signage		$105,000	
Parks and Recreation Facilities		$420,000	
Contingencies		$420,000	
		$8,955,000	

(1} A detalled description of these improvements is provided in the Supplemental Engineer's Report for Capital Im provements dated March 20, 2019.

Prepared by: Governmental Management Services - Central Florida, LLC

TABLE 3
VILLAMAR COMMUNITY DEVELOPMENT DISTRICT BOND SIZING
SUPPLEMENTAL ASSESSMENT METHODOLOGY FOR PHASE 1

Description Construction Funds lsssue Discount
Debt Service Reserve Capitalized Interest Underwriters Discount Cost of Issuance

Par Amount

Bond Assumptions: Average Coupon Rate Amortization Capitalized Interest Debt Service Reserve Underwriters Discount

Total
$	6,099,104
$	7,203
$	450,869
$	282,593
$	143,600
$	196,631
$	7,180,000

4.77%
30 years
12 months
Max Annual
2%

Prepared by: Governmental Management Services - Central Florida, LLC

TABlE 4
VILLAMAR COMMUNllY DEVELOPMENT DISTRICT
ALLOCATION OF IMPROVEMENT COSTS
SUPPLEMENTAL ASSESSMENT METHODOLOGY FOR PHASE 1

% of Total

Total Improvements

Improvement Costs

Land Use	No. of Units •	ERU Factor  Total ERUs	ERUs

Costs Per Product Type

Per Unit

Single Family	334	1.00	334	100.00%	$	8,955,000
Totals	334	334	$	8,955,000
* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services � Central Florida, UC

$26,811

TABLE 5
VILLAMAR COMMUNITY DEVELOPMENT DISTRICT ALLOCATION OF TOTAL PAR DEBT TO EACH PRODUCT lYPE SUPPLEMENTAL ASSESSMENT METHODOLOGY FOR PHASE 1

Total Improvements
Costs Per Product
Land Use	No. of Units •	Type

Single Family	334	$	8,955,000
Totals	334	$	8,955,000
* Unit mix is subject to change based on marketingand other factors

Prepared by: Governmental Management Services - Central Florida, LLC

Allocation of Par
Debt Per Product
Type	Par Debt Per Unit

$	7,180,000	$2.1,497
$	7,180,000

TABLE S
VILLAMAR COMMUNITY DEVELOPMENT DISTRICT
PAR DEBT ANO ANNUAL ASSESSMENTS FOR EACH ?RODUCTTYPE SUPPLEMENTAL ASSESSMENT METHODOLOGY FOR PHASE 1

Allocation of Par

Net Annual Gross Annual Debt	Debt

Land Use	No. of Units •

Debt Per Product
Type

Maximum Annual Assessment Total ?ar Debt Per Unit	Debt Service	Per Unit

Assessment Per Unit (1)

Single Family	334
Totals	334

$	7,180,000
$	7,180,000

S21,497	$	450,869   $	1,350  $	1,452
$	450,869

[1) This amount includes collection fees and early payment discounts when collected on the Polk County T-ax- Bill
Unit mix is IDbJect to ch;mge based on marketing and other factors

Prepared by: Govemmental Management Services - Central Florida, LLC

TABLE 7
VILLAMAR COMMUNllY DEVELOPMENT DISTRICT PRELIMINARY ASSESSMENT ROLL
SUPPLEMENTAL ASSESSMENT METHODOLOGY FOR PHASE l

Total Par Debt Allocatfon Per

Net Annual Debt Gross Annual Dept Totlll Par Debt	Assessment	Assessment

Owner	 	

Aaes

Acre

Allocated	Allocatlon	Allocation l1l

Cassidy Properties, Inc. Highland Sumner, lLC Highland Cassidy, LLC Hlghland Cassidy, tLC Highland Cassidy, LLC

Tot.als

26-29-23-000000-013060
26-29-23-000000-031010
26-29-23-000000-013030
26-29-23-000000-014010
26-29·23-000000-032010· •

1.79
19.88
19.SO
22.00
16.21
79.38

$90,451
$90,451
$90,451

$161,907.28	$	10,166.99  $	10,777.01

s

$1,798,165.78	$	112,916.05 $	119,691.01
$1,763,794.41	110,757.69 $	117,403.15
$1,989,921.89	$	124,957.39  $	132,454.84
$1,466,210.63 $	92,070.88  $	97,595.13
$7,180,000	s	450,869  $	477,921

(1} This amount includes 7% to cover collection fees and early payment discounts when collected utilizing the uniform method.

Annual Assessment Periods Projected Bond Rate {%) Maximum Annual Debt Service

30
4.77%
$450,869

- See Metes and Bounds, attached as Exhibit A
•• - Entire Parcel is 60.93 acres, but lt fs split between Phase 1 and 2. This is portion In Phase 1.

Prepared by: Govimmental Management Services � Central Florida, LLC

MASTER ASSESSMENT METHODOLOGY

FOR

VILLAMAR
COMMUNITY DEVELOPMENT DISTRICT

Date: December S, 2018

Prepared by

Governmental Management Service& - Central Florl_da, LLC 135 W. Central Blvd, Suite 320

1 .0 Introduction........................................"······•··••··...._ 	3
1. 1 Purpos.e.........�........................................................................................................, 	3
2 Background	3
Special Benefits and General Benefits ............� 	4
4 Requirements of a Valid Assessment Methodology	4
Special Benefits Exceed the Costs Allocated	&
2..0 Assessment Methodology .........................s......... ...,. 	5
2.1 Overview ...... ,............................................,....................................................................., 	5
Allocation of Debt.	6
Allccatk>n of Benefit	6
Lienability Test: Special and Peculiar Benefit to the Property	6
Uenability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments	7
3.0 True-Up Mectlanism ...�..................................111..••············· •••••••••••••••••••••• 	8
4.0 Assessment Roll	8
5.0 Appendix	9
Table 1: Development Program	I
Table 2: Capital Improvement Cost Estlmates ..... ..........................,	10
Table 3: Bond Sizing	11
Table 4: Allocation of Improvement Costs	12
Table 5: Allocation of Total Par Debt to Each Product Type	13
Table B: Par Debt and Annual Assessments	14
Table 7: Preliminary Assessment Roll	15

GMS-CF, LLC does not represent the Villamar Community
Development District es a Municipal Advisor or Securities Broker nor is GMS·CF. LLC registered to provide such services as descrlbed in Section 15B ofthe
Securities and Exchange A<:l of 1934, as amended. Simllarty, GMSACF. LLC does not provide the Villamar Community Development District with financial
advisory servlcea or offer Investment advice in any fonn.

Introduction

The VillaMar Community Development Oi&trkt (the "District") Is a local urut of special•purpose government organized and existingunder Chapler 190, Florida Statutes as a.mended. The Disbict anticipafes the issuance at thui lilne of not ID exceed $22,250,000 of tax exempt bonds in one or more serles (the "Bonds") for the purpose of financing certain infrastructure improvements rcapttal Improvement Plan") within the District more spedficaily described in the Engineer's Report dated Dec;em:&er 201:S prepared by Denni& Wood Engineering, LLC , as may be amended and supplemented from time to lime (the "Hngineds Report"). The District anticipate& the construction of all or a portion of the Capital Improvements or Capital Irn.provement Plan ("Capital Improvements>') thatbenefit property OWtlers within � District.

Purpose
This Master Assessment Meth odology (the "Assessment Report") provides for an assessment methodolo8Y that allocates the debt to be incurred by the District to benefiting propetlies wilhin the District. This Assessment Report allocate$ the debt to prc,pertie8 based on the special benefits each receives from the Capilal Improvements. This Assessment Report will be supplemented. with one or more supplemental methodology reports to reflect the artwtl terms and conditions at the time of the issuance of each series of Bonds issued to finance all or a portion of the Capital lmprovements. This Assessment Report ia designed to conform to the requirements of ChapteJ$ 190 and 170, Florida Statutes with respect to special assessments and is consisl:!!nt with our understanding ofcase law on this subject.
The District intends to ill\pose non ad valorem &pedal assessments rSpecial Assessments") on the benefited lands within the District based on this Assessment: Report It is anticipated that all of lite proposed Special .Assessments will be collected through  the  Uniform  Method  of Colledion  described  in Oiapter  197.�,  Florida Statutes or any other legal means available to the Distl'ict. It is not the intent of this Ass5Slllent Report to address any other assessments, ii applicable, that may be levied by the District, a homeowners association, or any other unit- of government.

Background
The District cunently includes appro� 153.34 acres tn the City of Winter Haven within Po1k County, Florida. The development program for the District currently envisions approximately 642 residential units. The proposed development program is depicted in Table 1. It is recognized that such development plan may cha.n� and this AMessmePt Report will be modified OT 1upplemented accoutingly.
The Capital Improvements contemp]atsd by the D.isttict in the Capital Improvement Plan will provide facilities that benefit cerlain property within the D.t:rict Specifically, the Dlstdct will construct and/ or acquire certain offsite improvements, stormwatei­ managemcnt facilities, utility facilities, roadways, entry features, and park and amenity features. The acquisition and constr1,1ction costs ate summarized in Table 2..

3

The assessment methodology is a four-step process.

The .District EngineeJ'  must first  determine  the  public  infrBlltructure maprovements that may be provided by the District and the costs to implement the Capital lmprovemenEs.
The District F.ngineer determines lhe assessable aaes that benefit from the District's Capital Improvements.
A cakulation is made to determine the funding amounts necessary to
acquire and/or construct the Capital Improvements.
This amount js inilially divided equally among the benefited properties on a prorated assessable acreage bui5. tntiatately, as land is platted, this amount will be assigned to ea.ch of the benefited properties based OJ'J the number and type of platted units.

Special Benefits and General Benefits

Capttal lmprovemente 11Jtdertaken by the District create special and peculiar benefim to ihe property, dil.fetent in kind and degree, for properties within its borders as well as general benefits to the public at Jarge.

H.owevet, as discussed within lhis Assessment Report, these genera] benefits are incidental in nature and are readily di.stinguiahable from the special and _p«uliar benefits, which accrue to property within the District. The implementation of the Capital Imprwement Plan enables properties within the boundaries of the District to be developed. Without the Disb'ict's Capital Improvement Plan, there would be no infrastructlu'e to support development of land within the Distrkt W;tllOut these improvemenls, development of the property within the Oiatrict would be prohibited bylaw.

The general public and property owners outside of the District may benefit from the provision of tne Capital Improvements. However, any such benefit will be incidental for the purpo,;e of the Capital Improvement Plu\, which is designed solely to meet the needs of property within the District Properties outJride of the District boundaries do not depend upon the District's Capital Improvements. The property ownets within the District are therefore receiving special benefits not received by the general public
and those outside the District's boundaries.

Requirements of a Valid Assessment Methodology
There are two requiremenls under Florida law for a valid special assessment

The properties must receive a special benefit from the Capital
Improvem.enls being paid for.

The assessments must be fairly and reasonably allocated or apportioned to the properties being assessed based on the special benefit such properties receive.

Florida law provides for a wide application of special assessments that meet these two characteristics of special assessments.

Special Benefits Will Equal or Exceed the Costs Allocated

The special benefits provided to the property owners within the Disbict will be equal to or greater than the costs associated with providing these benefits. The Dlstrict Engineer estimab!s that the District's Capital Improvement Plan that is necessary to support full development of property within the Disbict will cost approximately
$17,227,625. The District's Underwriter projeclB that fin ancing costs required to fund the Capital Improvement Plan costs, the cost of issuance of the Bonds, the funding of a debt service .reserve account and capitalized interest, will be approximately
$22,250,000. Without the Capital Improvement Plan, the property within the District would not be able to be developed and occupied by future residents of the community.

Assessment Methodology

Overview
The District anticipates issuing approximately $22,250,000 in Bonds in one or more series to fund the Disbict's entire Capital Improvement Plan, provide for capitali7.ed inlerest, a debt service reserve account and pay cost of issuance. It ls the purpose of this Aaeesament Report to allocate the $22,250,000 in debt to the properties within the Distriri benefJ.ting &om the Capital Improvement Plan. This report will be supplemented fo reflect actual bond terms.
Table 1 identifies the land uaea and lot sides in the development as identified by the Developer within the District The District has commiasioned an Engineet's Report
that includes estimaied construction coets for the Capital Improvements needed to support the development which these construction costs are outlined :in Table 2. The Capital Improvements needed to support the development are described in detail in the Engineer's Report and � estimated to cost $17,227,625. Based on the estimated COBts, the size of the Bond is1ue under C11m!nt market conditions needed to
generate funds to pay for 1he Capital Improvements and related costs was determined by the District's Underwriter to total approximately $22,250,000. Table 3 shows the breakdown of the Bond sizing.

5

Allocation of Debt
Allocation of debt is a continuous process until the development plan for the District is completed. Until the platting process occurs, the Capital Improvements funded by District Bonds benefits all acres within the District.

The initial assessments will be levied on an equal basis to all gross acreage within the District. A fai r and reasonable methodology allocates the debt incurred by the District proportionately to lhe properties Meeiving the special benefits. At this point all of the lands within the District are benefiting from the Capital Improvements.

Once platting or the recotding of a declaration of condominium of any portion of the

gun,

DJstrict into individual Jots or units (uAssigned Propertie.sn) has be

the Special

Assessments will be levied to the Autgned Properties based on the benefits they receive, on a first platted, first assigned basis. The "Unassigned Properties" defined as property that has not been platted or subjected to a declaration of condominium, will continue to be assessed on a per acre basis. Eventually the development plan will be completed and the debt relating to the Bonds will be allocated to the assigned propertie& within the D.istrict., which are the beneficiaries of the Capital Improvement Plan, aa depicted in Table 5 and Table 6. If there are changes to development pl.Ill\, a true up ofthe assessment will be calculated to determine if a debt reduction or troo­ up payment from the Developer is required. Theprocessis outlined in Section 3.0.

The assignment of debt in this Asseasment Report sets forth th� process by which debt is apportioned. As mentioned herein, this Assessment Report will be supplemented from time to time.
Allocation of Benefit

Eami1J

The Capital lmprovement Plan consists of o£&ite improvements, etormwater management facilities, utility facilities, roadways, entry features, and park and amenity features and professional fees along with related incidental cos1B. There are three producttypes within the phuu\ed development. The 50' s.ingb!	home has been set as the base unit and has been assigned one equivalent residential unit (•ERU..). Table 4 shows the allocation of benefit to the pa:cticular product type. It is important to note that the benent derived &om ihe Capital Improvements on a particular unit will exceed the cost 1hat the unit will be pay. ing for such benefits.
Lienability Test: Special and Peculiu Benefit to the Property Construction and/ or acquisition by the District of its proposed Capital Improvements
will provide several types of ayatems, facilities and servkes for its residents. These include offsih! improvements, stormwat-er management facilities, utility .faciiities,

6

roadways, entry features, andpark and amenity features. The benefit from the Capital Improvements accrue in differing amounts and are somewhat dependent on the product type receiving the special benefits peculiar to that property type, which flow from the logical relationship of the Capital Improvemenls to the assigned prop<?rties.

Once these determinations are made, they are reviewed in the light of the special benefifs peawar to the property, which flow to the properties as a re5ult of their logical connection from the Capital Improvements actually ptovided.

For the provision of the Capital Improvement Plan, the special and peculiar benefits are:

theadded use of the property,
added enjoyment of the property, and
the increased marketability and vaJuc of the property.
'These special and peculiar benefits are real and ascertainable, but are not yet capable of being calculated as tn value with. mathematical certainty. However, each is more valuable than either the cost of, or the actual Special Assessment levied for the c.apital Improvement as allocated.

Lienabllity Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments
A reasonable estimate of the proportion of special and peculiar benefits received from the public improvements described in lhe Capital Improvement Plan is delineated in Table 5 (expxet.&ed as Allocation of Par Debt per Product Type). This is aJso shown on Table 7 depicting Allocation of Par Debt per Product Type.

The determination has been made that the duty to pay the non-ad valorem special assessmenll!i is fairly and reasonably apportioned because the special and peculiu benefits to the property derived from the acquisition and/or construction of Capital Improvement Plan have been apportioned to the property within the District according to reasonable estimates of the :,pedal and peculiar benefits provided consistent with the product type of assignable properties.
Accordingly, no a.ere or parcel of property within the boWld aries of the District will have a lien for the payment of any Special Asee&sment more than the determined special benefit peculiar to that properly and therefore, the debt alloc:atton will not be increased more than the debt allocation set fotth in this Assessment Report.
In accordance with the benefit allocation suggested for the product types in Table 4, a total debt per unit and an annual assessment per unit have been calculated for each product type (Table 6). These amounts represent the preliminary anticipated per unit

1

debt allocation assumhtg all anticipated assigned properties are built and sold as planned, and the entire proposed Capital lm.provement Plan is constructed.

3.0	True Up Mechanism
Although the District does not process platl!I, declaration of condominiwns, si$e plans or revisions thereto, it does have an important role to play during the coUJ'Se of platting and site planning. Whenever a plat, declaration of condominium or site plan is approved, the District must allocaie a portion of its debt to the property accord�g to thi& Assessment Report outlined herein. In. addition, the Oisbict must also prevent any buildup of debt on Unassigned Properties.. Otherwise, the land could be fully conveyed and/or platted without all of the debt being allocated.. To preclude this, when platting for 25%, 50%, 75% and 100% of the units planned for platting has occurred within the District. the District will determine the amount of antidpated Bond Special Assessment revenue that remairul on the Unusigned Properties, taking into accowit the full development plan of the District If the total anticipated Bond Spedal Assesement revenue to be generated from the Assigned and Unassigned Properties is greater than OJ' equal to the maximum annual debt service then no debt reduction or true-up payment is required. In the case that the revenue generated i& less then the required amount then a debt reduction or true-up payment by the landowner in the amount necessary to reduce the par amount of the outstanding Bonds plus aC011ed interest to a level th.at will be supported by the new net arumal debt service assessments will be required.
If a true-up payment is made less than 45 days prior to an interest payment date, the amount ofaccrued interest will be calculated to the next BUcceeding � payment date.

Assessment Roll
The Disbict will initially distribute the Special Assessmenis across the property within the District boundaries on a gross aouge basis. AB Assigned Properties become known with certainty, the District will refine its allocation of debt from a per
acre basis to a per unit basis as shown i1'\ Table 6. If the land u&e plan or product 1¥()e changes, then the Olstrict will update Table 6 to reflect the changes as part of the foregoing true-up process. As a result, the assessment liens are not .finalized with • certainty on any acre of land in the District prior to the time final Assigned Properties become known. The cul'n!J\t assessment roll is attached as Table 7.

B

TABL£ 1

VIUAMAR COMMUNITY DEVELOPMENT DISTRICT DEVELOPMENT PROGRAM
 MASTER ASSESSMENT METHODmOG                                                                                                      Y	

Total Assesslble
Land Us                                 e	 Unit s	
Single Family - 40'	202

u

Single Family -50'	428
Single F11mlly- 7f1
Tot.al Units	642

ERUs per Unit[11	Total EfUJs
0.80	162
1.00	428
1.40	17
'-·

,;w.s

Benefit Is allocated on an ERU basis; based on density of planned development, with Sinsle Famllv "' 1 ERU " Untt mix Is subject to chJnge based on matbtlng and other fade�

Prepared by: uDVl!rnmental Manqement Services - Central Florida, u.c

TABLE 2
VILLAMAR COMMUNITY DEVELOPMENT DISTRICT CAPITAL IMPROVEMENT flAN COST ESTIMATES MASTER ASSESSMENT METHODOLOGY
Capital Improvement Plan {11CIP11)   (1)
Offsite Improvements
Stonnwater Management

Roadway

Utilities {Water, Sewer, & Street Lighting)
Entry Feature Parks and Amenities Contingencies

Cost Estimate
$650,000
$8,016,465
$3,887,160
$2,864,000
$200,000
$800,000
$810,000

-0	 	$17,227,625

(1) A det,Hed description of these Improvements is provided in the
Engineer's Report dated December 2018.

Prepared by: Governmental Management Services - Central Florida, LLC

..-

TABLE 3
VILlAMAR COMMUNITY DEVELOPMENT DISTRICT
BOND SIZING
MASTER ASSESSMENT METHODOLOGY

Description Construction Funds Debt Service Reserve Capitalized Interest Underwriters Discount Cost of Issuance Contingency

Par Amount•
Bond Assumptions: Interest Rate Amortization
Capltallzed Interest Debt Service Reserve Underwriters Discount

Total
$	171227,625
$	1,616,438
$	2,670,000
$	445,000
$	220,000
$	70,937
$	22,zso,000

6.00'6
30 years
24 months Max Annual
2%

Par amount is subject to change based on the actual terms at the sale of the bonds

Prepared by: Governmental Management Services - Central Aorida, LLC

TABLE 4
VIUAMAR COMMUNITY DEVELOPMENT DISTRICT ALLOCATION OF IMPROVEMENT COSTS
 MASTER   ASSESSMENT METHODOLOGY	

" ofTotal

Single Family - 401	202	0.8	162	26.65%	$	4,591,003	$22,728	
SlngJe Family - 50'
Single Familv - 70'	4u28	1.00
1.40	428
17	2.77%	$	12,159,340
$	477,282	$28,410
$39,774	
Totals	642		606	100.009'	$	17k227,625		

Land Us                    e		No. of Units •  ERU Factor Tota, ERUs		ERUs

70.58%

Total Improvements	Improvement costs
Q>sts Per Product Type	Per Unit

Unit mix Is subject to chang@ based on marketing and other factors

Prepared by: Governmental Management Services- Central Florida, LLC

TABLES
VILLAMAR COMMUNITY DEVELOPMENT DISTRICT ALLOCATION OF TOTAL PAR DEBT TO EACH PRODUCT lYPE
MASTER ASSESSMENT METHODOLO                                                                                                       G           Y	

Total Improvements	Allocation of Par Costs Per Product	Debt Per Product
Land Use	No. of Units •	Type	 		Ty           p        e	Par Debt Per Unit	

Single Family - 40'	202	$	4,591,003	$	5,929,420	$29,354	
Single Family - 501
Single Family - 701	428	$	12,159,340
$	477,282	$	lS,704,156
$	616,425	$36,692
$51,369	
Totals	
642	$	17,227,625	$	22,250,000	

12

Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, lLC

TABLE6
VIUAMAR COMMUNllY DEVELOPMENT DISlRICT
PAR DEBTANDANNUALASSESSMENTS FOR EAQf PRODUCTlYPE MASltR ASSe$SMENT METHODOLOGY

Allocation of Par

Net Annual Debt

Gros, Annual
Debt

Debt Per Prodlltt	Ma,dmum Annual Assessment Assessment

Land Use	No. of Units •	Type	Tat:al Par Debt Per Unit	Debt5ervfce

s

Single Family -40'	202	$	5,929,420	$29,354	$	430,766

s

Single Family -SO'	428	$	15,704,156	$36,692	1,140,890
Single Famllv • 70'	12	616,425	$51,369	$	44,783
To�!$	642	$	2i2so1000	$	1,616,438
[l) This amount Includes collection fees and early payment discounts when collected on the Polk County Tax Bffl
Unit mix Is subjett to change based on marketing and oths factors

Prepared by: Governmental Management Services - Central Florida, LLC

Per Unit
$	2,133
$	2,666
$	3,732

Per Unit 11}
$	2,293

s

$	2,866
4,013

TABLE 7
VILLAMAR COMMUNllY DEVELOPMENT DISTRICT PRELIMINARY ASSESSMENT ROLL
MASTER ASSESSMENT METHODO�	

Totat Par Debt
Atlocatron Per

Net Annual Debt Grms Annual Debt
Total Par Debt	.Assessment	Assessment

owner	 	

 	Ac    r  e  s		 	Ac      r      e	Allocated ·	A.llacatlon	Allocatlon (1)__

P.ilnt Creek LLC
Totals

See �I Description

153.65	$144,810
153.65

$	22,250,000 $	1,616,438 $	1,738,105

1.616,438

 	s	$	1,738,10S

(1) This amount includes 7" to cover collec:tlon fee; and eanv payment discounts when conected utiDzing the uniform method.

Annual Assessment Periods Projected Bond Rate (7') Maximum Annual Debt SerYla!

• See Mete, and Bounds, attached IIS Exhibit A

30
6.00%
$ 616438

Prepared by: Governmental ManagementServtces •Central Florida, LLC

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17     -  -----··	-·--· -- 	

Exhibit C: Legal Description of Series 2019 Assessment Area

EXHl81T 10 VILLAMAR CDD
ASSESSMENT AREA l (334 lOTSl LEGAL.DESCRIPTION
THAT PART OF SECTION 2 3, TOWNSl-l lP 29 SOUTH, RANGE 23 EAST, POLK COUNTY, FLORIDA. MORE PARTICU!.ARLY DESCRIBED AS FOLLOWS:
JSill!iATTHE NORTHEAST CORNER OF THE SOUTHWEST 1/4 OFTHE NORTHEAST 1/4 OF SAID SECTION 23 AND RUN THENCE SD0"36'01"E ALONG THE EAST BOUNDARY THEREOF ALSO BEING THE WEST BOUNDARY OF CRESCENT VIEW SUSOIVISION AS RECORDED IN PLAT BOCK 142, PAGE 18 OF THE PUBLIC RECORDS OF POLK COUNTY, FLORIDA, A DISTANCE OF 630.40 FEET TO THE NORTH BOUNDARY OF SUNDANCE RANCH ESTATES AS RECORDED IN PLAT aaoK n, PAGE 28 OF THE PURUC RECORDS OF POLK COUNTY, FLORIDA; THENCE AlONG THE BOUNDARY OF SAID SUNDANCE RANCH ESTATES FOR THE NEXT THREE CAUS RUN S89·22·ss•w, 604.89 FEET; THENCE 500"37'04"£, 269.91 FEET; THENCE
.SB9•ss'02"W, 685.14 FEETTO THE EASTERLY RIGHT Of WAY OF CHERRY BLOSSOM LANE; RUN THENCE N00"05'12W AlONG SAID RIGHT OF WAY, 841.09 FEET; THENCE S89"23'59"W, 244,27 FEET; THENCE N00'36'01"W, 61.72 FEET TO THE SOUTH BOUNDARY OF THE SOUTH 1/2 OF THE NORTHEAST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 23; THENCE 589"23'59.W ALONG SAID SOUTH BOUNDARY,
755.01 FEET; THENCE N00"36'01"W, 209.17 FEIT; THENCE S89"23'S9"W, l50.0CI FEET;THENCE N00"36'01"W, 32S.OO FEET; THENCE N89"23'59"E, 106.79 FEET; THENCE N00"36'01"W, 127.35 FEET TO THE NORTH BOUNDARY OFTHE SOUTH 1/2 OFTHE NORTHEAST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 23; THENCE N89.31'30"E ALONG SAID NORTH BOUNDARY, 1001.84 FEETTO THE NORTHWEST CORNER OF THE SOUTH 1/2 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 OF SAID SECTION 23; RUN THENCE NS9"43'49"E ALONG THE NORTH BOUNDARY THEREOF, 333.78 FEET MORE OR LESS TO THE WATER'S EOG E OF CRYSTAL LAKE/l.AKE CUNNINGHAM; RUN THENCE SOUTHEASTERLY ALONG SAID WATER'S EDGE TO THE EAST BOUNDARY OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 OF SAID SECTION 23; RUN THENCE soo•36'30"E ALONG SAID EAST BOUNDARY, 322,28 FEET MORE OR LESSTO THE POINTOF BEGINNlNja. SUBJECT TO RIGHT OF WAY FOR CUNNINGHAM ROAD AND CHERRY BLOSSOM LANE.
AND TOGETHER WITH
THAT PART OF SECTION 23, TOWNSHIP 29 SOUTH, RANGE 23 EAST, POLK COUNTY, FLORIDA, MORE PARTICUlARlY DESCRIBED AS FOLLOWS:
COMMENCE AT TliE NORTHEAST CORNER OF THE SOUTH 1/2 OF TH£ NORTHWEST 1/4 OF SAID SECTION 23 AND RUN THENCE N89"40'31"W ALONGTHE NORTH SOUNDARYTHEREOF, 19.01 FEET TO THE WESTERN RIGHT OF WAY OF CHERRY BLOSSOM lANE: THENCE soo·os·12"E
ALONG SAID RIGHT OF WAY, 61.01 FEETTO THE POINTOF BEGINNING; CONTINUE THENCE soo·os·12"E ALONG SAID RIGHTOF WAY, 617. 39 FEET TO THE NORTHEAST CORNER OF LOT 13 OF SUNDANCE RANCH ESTATES AS RECORDED IN PLAT BOOK 77, PAGE 26 OF THE PUBLIC RECORDS OF POLK COUNTY,
FLORIDA; THENCE S89'S4'40"W ALONG THE NORTH BOUNDARY OF SA1D SUNDANCE RANCH ESTATES, AND ALONG THE NORTH BOUNDARY OF SUNDANCE RANCH ESTATES PHASE lWO AS RECORDED IN PLAT BOOK 80, PAGE 47 OF THE PUBLIC RECORDS OF POLIC COUNTY, FLORIDA, 1515.07 FEET; THENCE N00'33'24"E, 10S.76 FEET; THENCE 5a9'23'59''W, 63.26 FEET; THENCE N00"36'01"W, 3S0.21 FEET; THENCE S39"21'46"W, 105.87 FEET; THENCE N00•25•50HW, 216.14 FEET TO THE NORTH BOUNDARY OF THE SOUTHWEST l/4 OF THE NORTHWEST l/4 OF SAID SECTION 23; THENCE N89"43'36"E ALONG SAID

NORTH BOUNDARY, 38S.30 FEETTO THE NORTHEAST CORNER OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 23; THENCE N00.35'24'W, ALONG THE WEST BOUNDARY OF THE NORTHEAST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 23, 660.84 FEET TO THE NORTHWEST CORNER OF THE SOUTK 1/2 OF THE NORTHEAST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 23; THENCE N89.31'.30"E ALONG THE NORTH BOUNDARY THEREOF, 321.10 FEET; THENCE S00"36'01"E,
127.35 FEET; THENCE ss9•23•5g"w, 106.79 FEET; THENCE S00"36'01"E, 325.00 FEET; TliENCE N89"23'59''E, lS0.00 FEET; THENCE soo•36'0l"E, 200.17 FEET TO A POINTON TH NORTH BOUNOARY OF THE SOUTH 1/2 OF THE NORTHWEST 1/4 OF SAID SECTION 23; THENCE N89"37'08"E, ALONG SAID NORTH BOUNDARY, 755.01 FEET; THENCE S00'36'01"E, 61.72 FEET; THENCE N89'23'59�£, 184.27 FEET TO THE PQINT OF BEGINNING.
CONTAINING APPRO)(JMATELV 79.38 ACRES +/•,

Exhibit D:
Maturities and Coupons of Series 2019 Bonds

Jiw 11,1019   4;24pm PttpaRd b)· DBC' l'=cc-	Q'iswi« i.OOO Villa '.Mar 2019;\'M.\"M)  P�� 11 

Da1td Datr
.Drln-rry Date
L3st Malllriry
Arl>anre Yield

Bm!D SUMMARY STATISTICS
Vlll:i l\.bi"CDD
Spmal A-•�inrtlt �- Senn :?019
06/..!5120J9
1w1s110151 OS!Ot/2050
-1.7-17170!�

Trueimernl Cosi (TIC) NA11er-�1.11nc.11 CMt Ol)Cj Annp Caupon
Avtt.age L,k �=) Dunt,on oflnu� (ye.in)
J'MAIUOllllt
Boud Pnx:etds Tot21 l'nkle.r Netimere�
Total Drbr �·ace
Maximum Asta.11:11 DebiS,m;ce AVfnJC' Amlll.ll Dtbl Senict
Uodemntff's Fen (Jia- �1000)
.A,-naie T�n.1
OlhnFN:
Totll Undmmtft'1 Discount Bid Ptlte

Par

-l 91511dS'·•
487:!S<lO�,
5J5SOSS�-.
-I 76S817�.
1n9.1<1n7S
7.180.000 00 7.I 72.797.60
<l.732.H.f47 d.883,}7d 87 13.9t!,S74A7
4.50,868 75
➔50.9706

20.000000
10.000000
97.8996&8

Bowl C'oq1one111
Tffl!l 1 Ttnn l	Valiwe
510.000 00
750.000 00	Prir:e
!19.776
!19.192	CO\lpOII
us�.
4.�.	Lde
3,39JJ
?.917	
Tfflll l
Tnm.J	1.105.000 DO 3,815.000.00	100.000
100.000	-t62S%
4.875�.	15,731
2<l.rn>	
	7,180.00000			19.615	

A,-=11e

A•·er.age

TIC'
Par \'3Jue	7.lS0,000,00
+ A«rued�t
* Pn'lllmm (Discount)	-7.101.40
urulrmnrtt's Discount	-143,600.00
C'ost ofluu:inceExpmse
Otb2t-Amouim
Tariet Valut	1 02�.1!17.llO
T:qet  Ditr	061151!019
Yield	-19l 515W,a

All-la
TIC
7.180.000 00
-7.202.40
•l-lM-0000
•l �Ci.631.18

15,Bll5Ci6-42
06!25i2.0t9
S,155DS8° o

7.I80.000 00
-7.20:!.40

7.l7:?,797.60
-00'!512019
-1.747170�.

Exhibit E: Sources and Uses ofFunds for Series 2019 Bonds
luu 11, 2019  4:2-1 pw Prep;ual byDBC fuwu:r	(J'in>:nc e S.000 V,Jb M;u 2019;\"M-VM)  Page I SOURCES A..""D u-SES OF l'UNDS
\"db     MarCDD             Sp«Al A�srs�tBond,. Stt�, 1019

Boad Proctda:
h'Amellnl
Ooemlll ls�ue Discount

Usn:
Othu Fuad Dei,os1f\:
DSRF (mads \\-ilh n,lead
Capilalm-d lnttml Thro 51 112020

Deli\'ety Dillt E.qleti�s: C'ostofls=ce Unclm-"titet's DIN:OUIIT

OthttU= o{Fu111S.-.
C011suucaau Fll!>d

7.IS0.000.00
-7,�0HO 7.171.797.60

-tS0.HS.7S
 	it2.S9Ul
733.-kiLBB

196,631.18
J-U.600 00 H0.231.18

6.099,104.s-l
7.171.797.60

Exhibit F: Annual Debt Service Payment Due on Series 2019 Bonds

1uo 11. 2019  4:24 pm Pn-pattd by DB(' flll.DICP	(Fi:n.w:� 8.000 Villa Mar 2019;\,-!-\'M)  P:i�e-1

�ad

JU)m) DEBT SU'\1CE
VllhM:irCOD
Spfflal As!fi\WIUIBonds. Snitl 2019

l'riuCIJl'II	Coupap	lnlomst	Dd>IS<n"Ke

Allmlll	Bond	Tow

Ending

Dfo1Se1Yi<"e	Balance	flaud V"1ue

06/lSf.!019	7.JS0.000.00	7.lS0.000 00
11 /01,2019	116.361.88	JIG.JU88	116.361.88	7.180.000.00	7.180.000 00
OSIOlt.!020	166.rn.2s	t66,2ll 2S	7.180,000.00	7,180.000. 00
IJI0W0lO	IM.2.l l.�5	1Cl6�ll.15	331.-161.SO	7.180,000.00	7.l&o.000.DO
05/011.?-021	120,00000	3150!··	166,23 1.25	286.231.l�	7.060,000 00 	7.060.000 00

l ]/01/1021

.	163.981.�5	163,981..?5	450.21.?.50	7.060,000,()()	7.060.000 00

05./01 !2021	115.000.00	3.7SO-i	llU.981.25	2S8.9Sl.2S	035.000.00	6.!>lS,000 00
ll/0112Dl!			 ICH.637.SO         161.CS37.SO         -150,618.7�       6,93S.OOO_OO       6.!i>3S.OOO.OO OS!Ol/�023	l.l0,000.00	3.7SO-.,       101,637.�0      .29l.6l7.SO	6.805.000 00 6,S0�.000.00 ll/01 120.?l			IS9.:200,00         1S9.200 00         450,837.50      6.805.000.00        6.505.000 00
OS/01/1024	as.000.00	3,750",        159.200.00         .?!IUOO 00	6.670.000 00         6.670.000.00
I J/01/20!4	156,668 15       tS6,M�.73        450.868 75        6.610,-000 00      6.670.000 00
05101/2025	140.000.00         4.�.     156..061JS       296.668.75	6.530.QOO.OO     6.530.000.00

11/01/1025
05/0li2026

l4S.000

1 5!.86S. 7S	1S3,86S.75	450.53 7.50	6530,000.00	6.Sl0.000.00

00	-1 0CIO¾

153,1168.)S	J9UISS 75	UIS.000.00	6,3�,000.00

I 1/01/20.:!d	150.968.1.S	IS0.968.75	+19.SH.SO	6.lBS.000.00	d,385,000,00
OS/Olil(ll7	150,000.00	-1.000"'■	IS0,!'161.15	300.96US	6.23S.OOO .DO	6,:m.000.00

11/0lf.2027	147.�.75

+ll,!H7.SO	6..?35.000 00	6,2.lS,000.00

05.'0tf2028	155. 000.00	-1.000"o	141.9C'S.1S	3019118.75	6.080.000 00	II.0S0.000..00
IIIOl!.20:!S	14U6S.7S	U4,86S. 7S	4-17.837.5D	6.080,000 00	6.080,000 00
0510112029	160.000.00	-I.ODO!�	1#.868.7S	304,848.75	H?0,000.00	S.920,000.00
11101/2029	141.668.15	I-U.668.75	"46.517.50	S.920.00000	S,920.000.00
05/0112030	170.000.00	◄.62)'l9	14U�.75	lll,6155.75	5.750,000.00	;_750.000.00
11 /01/2030			137.737,SO 137.73750 -149.406,25  5.JS0.000 00  5,750.000.00 OS/011203 1	11s,ooo.oo         4 1m•.       137.737.50        31:?.7)7.SO		s.51s.000.oo    5,S7S.OOO.OO 1 1/011:?03 1		Ul.690.63             133.690 63	446.42U3      S..S75.000 00    5,575,000 .00
05/01/2032	185.000.00            H2S�.          03.690,63           318.690(iJ	5.390,000.00     5,390.000 00
I 1/0l/2032			l.!9,4C.SO l29.-U2.SO -1-18,103. B S.390.000 00  5.390,000.00 OS!Ol/2033	195.000.00         4.62s,.       ll9,-t12.50       324.41�.S0	S.l!IS,000.00 S.1!>5.000.00 11/Qli:?OH		124.903.IJ 124.903.ll -149.JIS.63 S.195.000 00 5.195.000 00
DS/01!2034	20!i,OOOOO         -1 6H¾         124.903. lJ        329,903.13	4.990,000.00     -I,!'190,000 DO
I l!Oli:?034	120.1is::,so          120.16.2.50         450,0CSS.63       4,990.000,00       -1,990,000.00

-1,ns,000.00

05(01/20.35	215.00000	-l l!H\,          120.162.50         335.16250	U75.000 00   -1.TT5 000 00
1111)111035	115.190,63 115.190 63 -l50,3S3.t3 U7i.OOO 00
05101/:?0.36	:?!S,000,00	46is·,.          11S,19tl.6.3      340.l!'IO 63	-l,SSQ.000. 00   4,550,000.00
11/0111036			109,987,SO    It19.5'87JO    450.178.1,    4550,000.00    4,!,S0.000.00 OS!Ol/20J 7	DS.000.00	4.629-i               109.9&1-50	l�,917.SO	·DIS.000 00 -IJl5.000.00 I liOl/2037			I IM.SSltl          10.f.553, l.>         �9.>1(1.63       -015.000 00        4.315.000 00
05101/.2038	24S.OOO.OO	-1.62s,.       10-1.SSJ.B        3-19.553.B	-1.070,000.00    -1.070.000.00
1 1101/1038	98,887.50	98.5117,50	448.4-I0.63	4.070,000.00	4.070.000.00
051011.?039	!55.000.00	4.625"1.	98.887.SO	353,887.50	3.&15.000.00	3.815.000.00
l l/01 12039	92.990.453	92.990 63	446,878.13	3,sI s.aoo oo	3.815.000 DO
OS/Olf:!().10	 :!70,000,00          -U7.S--.	 92,990.63         315�.63	3,S..S.000 00       .!,545.000.00 l liOl l.?040			86.-109.Jll	S6.-4a9.38 -149.400.01 3.�5.00000 3.S-15.000.00 OS/0iilO-lt	.!80,000.00	4 875�,	86.40!U8         366.409.38	3,26$.000 00  3,265.000.00
1 JI01i204 1	7!1,S84.3a	19,SB-1.38         4-15.99.!.76       l.ll5S,000.00       3.!65.000 00
O.SIOJ/204;?	295.00000	4.875%	7S.SS4.31	374.514.38	2.970.000_.00 	2.970.000 .00
l 1/0J/2042	71.393, 75	n.J93 .1S	�18.13	�.970,000.00	l.!170.000 00
05l01120-l3	310,000.00	4 875�\	72,393.75	l8U!IJ. 7S	l,660.000.00	2,660,000.00
111011.!0-IJ	6U37.S0	64.831 50	447.231 25	2.660.000 00	2,660.000 00
0SlOll:lOH	3?5.000.00	-U75�•	64.837,50	)BU)7.50	�.33 $.000.00	2,335.000,00
11/01/2044	56..91$.63	SUJH3	4-1(5.753,13	2.335,000.00	!. 335.DOO 00
0$/0112045	345.000.00	4 & 7.s•.	56,915.63	401.915,63	1,990.000 00	1.990.000,00
11101!.lMS			4'506 :?S		48,50ti' .!�	-mu11 ss	 U90,000.00	 l.�0.000 00 OS!Ol/2046	360.000.00	487S�.	4a506.25	408.506.25		l.dl0,000. 00 	1.630.000 00

Jun ll. 101� 4 24 pm Plep;nd byDBC' FWIICf		{Firu.nc� 8.000 V,Ua MM 2019:VM-\"M) P�� 5 BO.'ID DEBT !.ERVTCE

Pfflod	Annll.>l	Bond	Tot.ti

Villa   1'1iu"CDD Spedal ,b�•-r Bonds, 5aic1 2019

OS1Dl/l047	ll0,000.00	uso.ooo.

-1.SJS!i.

E.iid1ng	Prir11:1p3\	�		lottteSI	�bt!iff\•,i:,e	Deb1Smn		�baa		BG<ldV.i/i� ll/Ol/204(i			3!1,7ll.l5		39,731.2$		4-18237.50	1,630.000.00	1,630.000 00
39.731 25	-119.731..?S	00	l,:!50.000.00

1 ll01i!o-t7	J0,4Cil! .7S	30.41i8.7S	-IS0.!00.00

1.150.000.00

05/01/20-lS	.395.00000	-4.87S•�	30.-168 ?S	4!,.� 75	8S5.000.00	855.000.00

J l/01!�048	20,8"0G3	10.8-I0JSl

855,000.00	&�S.000 00

ns

05101/2049	-US.000,00	4.sn•.	20.1140 G3	-''il4063	440.000.00	+W.000 00
I l/OliJ049	10.7!$.00	10	oo	4-16.565.6.'	440,00000 	440.000 00
05!01/1050	4-10.000 00	4.175'•	10.72S.OO	◄50.715.00
11101/2050	450.125.00
7,180.000 00	6.732.57H7	U.912.574.◄7	13.!112.S7-U7

SECTION V

Hopping Green & Sams
Attorneys and Counselors

April  12, 2019

Board of Supervisors
VillaMar Community Development District c/o Jill Burns, District Manager
Governmental Management Services-Central Florida 135 West Central Boulevard, Suite 320
Orlando, Florida 32801
Re:	VillaMar Community Development District
2019 Special Assessment Revenue Bond Issuance Dear Board Members:
Please let this letter serve as our proposal to represent the VillaMar Community
Development District regarding the issuance of the 2019 Special Assessment Revenue Bonds at a fixed fee of $43,500, which includes costs and expenses.
To represent a subsequent Bond Issuance, we propose a fixed fee of $35,000 plus expenses for each series of bonds.
If this meets with your approval, please sign below and return to me by e-mail for our files. Thank you for this opportunity and should you have any questions please do not hesitate to contact me.
Sincere1y,

RVW/lk

Jill Burns, District Manager
VillaMar Community Development District

Roy Van Wyk

RistOffice Box 6526	T.a ll1h11ssee. Florida 32314	119 S. Monroe Street, Suite 300 (32301)	850.222.7500	850.224,8551 f8X	www.hgslaw.com

SECTION VI

SECTl"ON C

SECTION	1

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••• • • • • ••

VIL LAMAR
Community Development District

Unaudited Financial Reporting
May 31, 2019

•	•	•	•	•	•	•	•	•	•	•	•

•	•	•

Table of Contents

Balance Sheet

General Fund Income Statement

Month to Month

Developer Contribution Schedule

VILLAMAR
COMMUN ITY DEVELOPMENT DISTRICT BALANCE SHEET
May 31, 2019

ASSETS:
CASH
OPERATING ACCOUNT

General
Fund

$20,000

TOTAL ASSETS

LIABILITIES:	$20,000	
ACCOUNTS PAYABLE	$58,035	
FUND EQUITY:
FUND BALANCES:		
UNASSIGNED	($38,035)	
TOTAL LIABILITIES & FUND EQU ITY	$20,000	

REVENUES:

DEVELOPER CONTRI BUTIONS

TOTAL REVENUES

EXPEN DtTURES;

VILLAMAR
COMMUNITY DEVELOPMENT DISTRICT
GENERAL FUNO
Statement of Revenues & Expenditures
For The Period Ending 05/31/19

TED	PRORATED BUDGET	ACTUAL	
GET	THRU 05/31/19	TH RU 05/31/19	VAR ANCE	

$91,248	
$20,000	
$20,000	
$0	
$91,248	$20,000	$20,000	$0	

ADOP BUD

ADMINISTRATIVE:

SUPERVISORS FEES	$4,000	$2,400	$4,000	($1,600)

FICA EXPENSE	$306

So	$184

ENGi NEERING	$10,000	$6,000	$0	$6,000
ATTORNEY	$25,000	$15,000	$17,292	($2,2921
MANAGEMENT FEES	$29,167	$17,500	$17,500	$0
INFORMATIONTEQ.INOLOGY	$3,750	$2,250	$2,300	($50)
TELEPHONE	$250	$150	$56	$94
POSTAGE	$850	$510	$94	$416
INSURANCE	$5,000	$5,000	$4,109	$891

LEGAL ADVERTISI NG	$10,000	$6,000	$11,461	($5,461)	
OTHER CURRENT O,ARGES	$850	$510		$510	
OFFICE SUPPLLIES
TRAV ELPER DI EM	$500	$300
$330	
$0	$151
$330	
DUES, LICENSES, & SUBSCRI PTI ONS	$175		$150		
TOTAL ADMINISTRATIVE:	$91,248	$56,819	$58,035	($1,216)	
TOTAL EXPENOITU RES	$91,248	$56,819	$58,035	($1,216)	
EXCESS REVENUES (EXPENDtTU RESI	$0		{$38,035)		
FUND IJALANCE - 8EGINNI NG	
$0		
$0		
FUNDBALAN CE - ENDING	so		
($38,Q3S)		

PRI l'ITI NG & Bl NOi NG	$850	$510	$923	($413)

$175

2

VILLAMAR
Community Development District

e·EVENUES:

DEVELOPER CONTRIBUTIONS

TOTAL REVEN UES

		
		
$0	$0	
$2,533	$4,059	

EXPENDITURES;

 	Oc             t	Nov	Dec	Jan	Feb	March

April	May 	June		July	Aug	Sept	Total

IIDMINISTRATNC;
SU PERVISORS FEES
FICA EXPENSE
ENGINEERING	$0	$0	$0

So	$0	so	$0	$0	$D

ATTORNEY

$0	$7,997

$	$0	so	$0	$0	$17,292

$0	$125	$1,625	
$0	$0	$0	

MANAGEMENT FEES	$0	so	$2,917
INFORMATION TECHNOLOGY	$0
TELEPHONE

$2,917	$2,917	$

so	so	so	$0	$17,500
$0	$0	$0	$2,300
$0	$0	so	$0	$56

$4,109
$0	$0
$0	$D
so	$0
$321	
$0
$0	$0
$0	$2,494
$0	$7,618
$0	

POSTAGE	$0
INSURANCE PRINTING & BIN DING LEGAL ADVERTISING
OTHER CURRENT CHAR GES

$0	$52

$0	$0	$0	$0	$94

o

s	$0	$0	$0	$4,109
$0	so	So	$0	$923
$0	$0	$0	$0	$11,461

$0	So
1,947	$0	
2,917	S2,9 17
$75	$75	
$0	$24	
$1
so	$32
so	
$0
$277	$187
$0	

so	so	$0	$0	$0	$0	$0

OFFICE SUPPLLIES	$0	$0	so	$36

so	$18	$0	$0	$0	$0	$149

$200	$200	
$0	$32	
$9	$1	
$0	SD	
$416	$0	
$805	$267	
$0	$0	
$18	$77	

TRAVEL PER DIEM	$0	$0	$0	$0	$0	$0	So	$0	$0	$0	$0	$0	$0

DUES, LICENSES, & SUBSCRIPflONS	$0	$0	$150	$0	$0	$0

$0	$0	$0	$0

$1SO

TOTAL ADMIN ISTRATIVE

$0	$14,283	$16,101	$10,023	$4,250	$6,016

$0	$0	$0	$0

TOTAL EXPENDITURES

$0	$lb, 101	$10,023	$4,250	$6,016

$0	so	so	so	$58,035 1

EXCESS REVENUES/(EXPENDITURES)

$20,000	!S14,l831 !$16, 1011  1s10,0231	($4,250)

!$3,252!	$0	so

$0	!S38,03SII

3

VillaMar Community Development District Developer Contributions/Due from Developer

Request	Date	Deposited Date	Check/Wire Amount	Funding Request	Fund Portion (FY19}	(short) Bala nce Due	
1	
11/29/18	
5/20/19	
$	
20,000.00	$	
20,000.00	$ 20,000.00	
$	

Funding	Prepared	Payment	Total	General	Over and

IDue from Developer	$	$ 20,000.00	$ 20,000.00	$	
				
Total Developer Contri butions FY19		$ 20,000.00		

SECTION 2

ELECTIONS

SUPERVISOR OF

POLK COUNTY, FLORIDA
Lori Edwards

April 24, 2019

Jorgi Algard - Recording Secretary VillaMar COD Office
135 West Central Blvd. Suite 320
Orlando, Florida 32801-243 5

RE: VillaMar Community Development District Registered Voters

Dear Ms. Algard,

In response to your request, there are currently no voters within the VillaMar Community Development District as of April 15, 2019.
Please do not hesitate to contact us ifwe can be of further assistance.

Sincerely,

Lori Edwards Supervisor of Elections Polk County, Florida

RECEIVED
APR 2 9 2019

P.O. Box 1460, Bartow, FL 33831 PHONE: (863) 534-5888 Fax: (863) 845-2718
PolkElections.com

Para asistencia en Espanol, par favor de llamar al (863) 534-5888