7/18/24 1 Windward Community Development District Proposed FY 2025 Budget 1 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 2 7/18/24 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.) 3 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 electors . 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 4 7/18/24 3 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 5 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. 6 7/18/24 4 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 $3,195,000 . Bonds Issued in 2020 – Series 2 – 283 Homes . $4,230,000 Issued . Paid off in 2051 . Remaining $3,995,000 7 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 8 7/18/24 5 WINDWARD COMMUNITY DEVELOPMENT DISTRICT COMPONENTS . WCDD is 160+ Acres – Planned for 553 Units . Stormwater Management System . Landscape and Hardscape/Irrigation . Street Lights . Parks . Sidewalks . Roads VISIT THE CDD WEBSITE: WWW.WINDWARDCDD.COM 9 Proposed FY 2025 Assessments FY 2025 Debt Service Fees $960 Operation and Maintenance Fees $2,652 Home Lot Assessments Increasing by $513 for Operations and Maintenance Over 2024 2024 O & M was $2,139 Total Projected FY 25 Assessment - $3,612 FY 2024 Assessment - $3,099 10 7/18/24 6 GENERAL FUND EXPENSES – FY 25 . General CDD Administration - $138,529 – 10% . Landscape Maintenance - $237,000 – 17% . Landscape Replacements $50,000 – 4% . Irrigation Repairs - $30,000 – 2% . Lake Maintenance - $22,100 – 2% . Water and Sewer - $602,808 – 42% . Streetlights - $160,009 – 12% 11 Changes from Original Proposed Version . Adjusted landscaping to account for updated contract costs . Reduced increase in assessments by $112 (Was $2,765) 12 7/18/24 7 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 at Full Property Scope . Developer is currently funding extensive landscape restoration efforts and any shortfalls in FY 24 . This budget also allocates $50k to start reserves for CDD 13 Concerns to Note . Developer Funding not continuing in FY 25 – potential for increases . Any unspent assessment funds will be allocated to future Capital Reserves, which are currently unfunded in budget . Debt Service on individual lots can be paid off 14 7/18/24 8 Notes on Public Comments . Please come to the podium . 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 15