Windward Community Development District Proposed FY 2024 Budget What is a CDD? . Special Purpose District created under Chapter 190, Florida Statutes . CDDs have limited powers which are defined in Chapter 190. . Subject to Government in the Sunshine and Ethics Laws . Subject to public records laws 2 3 n Public Roads n In-Tract & Major Arterial n Street Lights n Traffic Signals n Water and Sewer Facilities n Stormwater Management n Landscaping n Wetlands Mitigation n Remediation/Environ. Cleanup n Amenities n Parks n Recreation Centers n Golf Courses n Tennis Courts n Offsite Improvements n Purchase of Land For Public Improvements n Professional Fees n Public Facilities n School Buildings n Transit Shelters n Parking Structures n Fire Stations n Conservation / Mitigation Areas n Security n Waste collection and disposal n Government Mandated Projects Under Chapter 190 (Florida Statute), CDDs have the power to: “. . . finance, fund, plan, establish, acquire, construct or reconstruct, enlarge, or extend, equip, operate, and maintain systems, facilities and basic infrastructures for the following,” What is a CDD? (cont.) 4 How are CDDs governed? . Five (5) member board of supervisors . Initially elected by landowners . One vote per acre or part thereof . Planned transition to qualified elector . When a CDD reaches year 6 and has at least 250 registered voters 2 seats transition to residents through general election. In year 8, 2 additional seats transition and in year 10 the last seat transitions. . Transition Begins here in Nov. of 2024 How are CDDs Financed? . What are assessments? . Non Ad Valorem: Based on benefit to the property, not value . Types of assessments: . Fixed capital component to pay debt service . Variable component to pay for operating and maintenance . Assessments Levied on Property Tax Bill and/or Billed Directly to Property Owner 6 Why a CDD? . Tool for continuity in the community . Provides reliance and perpetuity . Tax exempt financing and purchasing . Sole purpose is to provide services . Governmental checks and balances . Bidding requirements . Audit Requirement . Etc. Windward CDD . WCDD was created by Ordinance 2017-21 of Osceola County, Amended with Resolution 2021-44 – Approx. 160.43 acres . Bonds Issued in 2018 – Series 1 – 270 Homes . $3,460,000 Issued . Paid off in 2049 . Remaining $3,310,000 . Bonds Issued in 2020 – Series 2 – 283 Homes . $4,230,000 Issued . Paid off in 2051 . Remaining $4,155,000 WINDWARD COMMUNITY DEVELOPMENT DISTRICT BOUNDARIES Maintenance Entity Area (AC) P & B Job No.: Exhibit A June 07, 2023 18-021 2602 E. Livingston St. Orlando, Florida 32803- 407.487.2594 www.poulosandbennett.com Certificate of Authorization No. 28567 CDD Maintenance Responsibility Windward CDD N WINDWARD COMMUNITY DEVELOPMENT DISTRICT COMPONENTS . WCDD is 160+ Acres – Planned for 553 Units . Stormwater Management System . Landscape and Hardscape/Irrigaton . Street Lights . Parks . Sidewalks . Roads VISIT THE CDD WEBSITE: WWW.WINDWARDCDD.COM Proposed FY 2024 Assessments FY 2024 Debt Service Fees $960 Operation and Maintenance Fees $2,139 Home Lot Assessments Increasing by $889 for Operations and Maintenance Over 2023 2023 O & M was $1,250 Total Projected FY 24 Assessment - $3,099 FY 2023 Assessment - $2,210 GENERAL FUND EXPENSES – FY 24 . General CDD Administration - $133,733 – 11% . Landscape Maintenance - $237,545 – 20% . Landscape Replacements – 3% . Irrigation Repairs - $25,000 – 2% . Lake Maintenance - $9,000 – 1% . Water and Sewer - $531,795 – 44% . Streetlights - $158,992 – 13% Changes from Original Proposed Version . Adjusted landscaping to account for new areas and updated contract costs . Added Developer Contribution of $105k to account for some areas that might not come fully online in FY 24 . Reduced increase in assessments by $123 (Was $2,262) Concerns to Note . This increase has been projected and discussed since the FY 2022 Budget . All lots assessed equally, even those that are vacant . Budget is solely based on costs needed to manage the CDD Areas of Responsibilities . Areas included in FY 2024 are planned to be under maintenance for the year . Developer is currently funding extensive landscape restoration efforts Concerns to Note . Developer Funding not expected to continue in future fiscal years – potential for increases . Any unspent assessment funds will be allocated to future Capital Reserves, which are currently unfunded in budget . If expenses exceed budget, CDD enters into a deficit funding agreement with developer . Debt Service on individual lots can be paid off Notes on Public Comments . Please come to the front of the room . Speak Using Microphone . State Your Name and Address . Comments Limited to 3 Minutes . Please Be Respectful . Please Try Not to Repeat the Same Points . Not a Q and A Session