VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT

MIAMI-DADE COUNTY REGULAR BOARD MEETING MARCH 14, 2019
1:30 P.M.

Special District Services, Inc.
6625 Miami Lakes Drive, Suite 374 Miami Lakes, FL 33014

www.venetianparccdd.org 305.777.0761 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA
VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT
8500 S.W. 8th Street, Suite 228 Conference Room
Miami, Florida 33144
REGULAR BOARD MEETING
March 14, 2019
1:30 p.m.

Call to Order
Proof of Publication…	Page 1
Establish Quorum
Discussion Regarding Declared Vacancy in Seat #2 as of 11/20/2018 and Holdover Member
Discussion Regarding Appointment(s) to Fill Vacancy
Administer Oath of Office and Review Board Member Duties and Responsibilities
Election of Officers – As Required
Chairperson
Vice Chairperson
Secretary/Treasurer
Assistant Secretaries
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
1.	December 13, 2018 Regular Board Meeting	Page 2
Old Business
1.	Staff Report: As Required
New Business
Discussion Regarding Changing Regular Meeting Location and Time
Discussion Regarding Electronic Email Approvals/Authorizations
Consider Resolution No. 2019-01 – Adopting a FY 2019/2020 Proposed Budget.	Page 6
Administrative & Operational Matters
1.	Staff Report as Required
Board Member & Staff Closing Comments
Adjourn

MIAMI DAILY BUSINESS REVIEW
Published Daily except Saturday, Sunday and Legal Holidays
Miami, Miami-Dade County, Florida

STATE OF FLORIDA COUNTY OF MIAMI-DADE:

Before the undersigned authority personally appeared CHRISTINA RAVIX, who on oath says that he  or  she  is  the LEGAL CLERK, Legal Notices of  the  Miami  Daily  Business Review f/k/a Miami Review, a daily (except Saturday,
Sunday  and  Legal  Holidays)   newspaper,   published in Miami-Dade County, Florida; that the attached
advertisement, being a Legal Advertisement  of  Notice  in  the matter of

VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019 REGULAR MEETING SCHEDULE

in the XXXX Court,
was published in said newspaper in the issues of 09/28/2018
Affiant further says that the said Miami Daily Business Review is  a  newspaper  published  at  Miami,  in  said  Miami-Dad  e   County,    Florida    and    that    the    said    newspaper heretofore been continuously published in  said  Miami-Dade County,  Florida  each  day   (except   Saturday,   Sunday   and Legal Holidays) and has been entered  as  second  class  mail matter at the post office in Miami in said Miami-Dade County, Florida, for a period of one  year  next  preceding  the  first publication of the attached copy of advertisement;  and  affiant further says that he or she has neither paid nor promised any person,  firm  or  corporation   any   discount,   rebate,  commission or refund for the purpose of securing this advertisement for publication in the said newspaper.

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VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
DECEMBER 13, 2018

CALL TO ORDER

District Manager Neil Kalin called the December 13, 2018, Regular Board Meeting of the Venetian Parc Community Development District to order at 1:32 p.m. in the Conference Room of 8500 SW 8th Street, Suite 228, Miami, Florida 33144.

PROOF OF PUBLICATION

Mr. Kalin presented proof of publication that notice of the Regular Board Meeting had been published in the Miami Daily Business Review on September 28, 2018, as part of the District’s Fiscal Year 2018/2019 Regular Meeting Schedule, as legally required.

ESTABLISH A QUORUM

Mr. Kalin stated that the attendance of Chairman Angel Valdes, Vice Chairman Sergio Valdes and Supervisor Yuthit Baez constituted a quorum and it was in order to proceed with the meeting.

Others in attendance: District Manager Neil Kalin of Special District Services, Inc.; and General Counsel Ginger Wald of Billing, Cochran, Lyles, Mauro & Ramsey, P.A.; and Eugene Collings- Bonfill, Miami, Florida.

Also present was Eugene Collings-Bonfill of Miami, Florida.

DISCUSSION REGARDING DECLARED VACANCIES – SEATS #1 AND #2

Mr. Kalin reminded the Board, effective 11/20/2018, there were two vacancies on the Board and the incumbents (holdovers), Teresa Baluja and Yadira Monzon, would serve no more than ninety days from 11/20/2018 or until the respective vacancies were filled. Mr. Kalin stated that Mr. Eugene Collings-Bonfill, a qualified resident (in attendance) residing within the District, had expressed interest in serving on the Board. A discussion ensued after which;

A motion was made by Mr. Sergio Valdes, seconded by Ms. Baez and unanimously passed appointing Mr. Collings-Bonfill to the unexpired 4-year term of office in Seat #1; and such term of office shall expire in November 2022.

CONSIDER APPOINTMENTS TO FILL VACANCIES

This item was previously covered above.

ADMINISTER OATH OF OFFICE AND REVIEW BOARD MEMBER DUTIES & RESPONSIBILITIES

Mr. Kalin, Notary Public in the State of Florida, administered the Oath of Office to Mr. Collings- Bonfill and reviewed the responsibilities and duties of a Board Member/Elected Official with

emphasis on Government in the Sunshine, Financial Disclosure requirements (must submit 2017 Form 1 within thirty {30} days of appointment/taking office) and Public Records Law.

ELECTION OF OFFICERS

Mr. Kalin stated that due to the recent changes to the District’s Board it would be in order to re-elect the officers. A discussion ensued after which the following slate of officers was presented for election:

Chairperson – Angel Valdes
Vice Chairperson – Sergio Valdes
Secretary/Treasurer – Neil Kalin
Assistant Secretaries – Yuthit Baez, Eugene Collings-Bonfill, Gloria Perez, Armando Silva and Yadira Monzon. A discussion ensued after which;

A motion was made by Mr. Sergio Valdes, seconded by Ms. Baez and unanimously passed to elect
the District’s slate of officers, as stated above.

ADDITIONS OR DELETIONS TO THE AGENDA

There were no additions or deletions to the agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

There were no comments from the public for items not on the agenda.

APPROVAL OF MINUTES
1. November 8, 2018, Regular Board Meeting

Mr. Kalin presented the minutes of the November 8, 2018, Regular Board Meeting and asked if there were any changes. There being no comments or changes, a motion was made by Mr. Sergio Valdes, seconded by Mr. Collings-Bonfill and passed unanimously approving the minutes of the November 8, 2018, Regular Board Meeting, as presented.

OLD BUSINESS
1. Staff Report, as Required

There was no Staff Report required at this time.

NEW BUSINESSS

There were no New Business items to come before the Board.

ADMINISTRATIVE & OPERATIONAL MATTERS
Audit Financial Risk Management Policy/Review – Fiscal Year 2017/2018

Mr. Kalin advised the Board that Special District Services, Inc. (“SDS, Inc.”), acting in the capacity of District Manager, as part of best management practices and to satisfy annual audit requirements does implement certain measures and procedures to identify and mitigate financial mismanagement/fraud risks, as follows:

Each month the District’s operating/checking bank account is reconciled by an authorized person who has not deposited funds to, processed expenditures or written checks from, that particular operating/checking account; and

Each expenditure from the District’s operating/checking account requires a minimum of two (2) approvals from authorized staff and/or District officials and the respective approvals are provided by persons other than the preparer of the expenditure(s); and

All financial transactions are logged and maintained by the District Manager for record keeping purposes; and

A designated member of the Board, typically the Chairperson (by an electronic approval procedure), has an opportunity to review the District’s expenditure(s) prior to the payment(s) being released; and

The District engages an independent firm, pursuant to Chapter 218.391, Florida Statutes, to audit the prior year’s financial activities (October 1st through September 30th) from which an independent fiscal year annual audit is prepared; and

Within sixty (60) days of the end of each fiscal year (September 30th) the District’s Board of Supervisors reviews, pursuant to Chapter 189.418(5), Florida Statutes, the prior year’s budget relative to actual revenues and expenditures and adopts by resolution an amended/revised final budget.

Staff Report, as Required

There was no Staff Report at this time

BOARD MEMBER & STAFF CLOSING COMMENTS

Mr. Kalin stated, unless an emergency were to arise, the Board would not be required to meet until February 2019. Those in attendance exchanged holiday greetings.

ADJOURNMENT

There being no further business to come before the Board, the December 13, 2018, Regular Board Meeting was adjourned at 1:50 p.m. on a motion made by Mr. Angel Valdes, seconded by Mr. Collings-Bonfill and passed unanimously.

 	
Secretary/Assistant Secretary	Chairperson/Vice Chairperson

RESOLUTION NO. 2019-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET AND NON-AD VALOREM SPECIAL ASSESSMENTS FOR FISCAL YEAR 2019/2020; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (“Board”) of the Venetian Parc Community Development District (“District”) is required by Section 190.008(2)(a), Florida Statutes, to approve a Proposed Budget for each fiscal year; and,

WHEREAS, the Proposed Budget including the Assessments for Fiscal Year 2019/2020 has been prepared and considered by the Board.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT, THAT:

Section 1. The Proposed Budget including the Assessments for Fiscal Year 2019/2020 attached hereto as Exhibit “A” is approved and adopted.

Section  2.     A Public Hearing is  hereby scheduled for 	at 	in the Meeting Room located at 			, for the purpose of receiving public comments on the Proposed Fiscal Year 2019/2020 Budget.

PASSED, ADOPTED and EFFECTIVE this 14th day of March, 2019.

ATTEST:	VENETIAN PARC
COMMUNITY DEVELOPMENT DISTRICT

By: 			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

Venetian Parc Community Development District

Proposed Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (AREA ONE) IV          DETAILED PROPOSED DEBT SERVICE FUND BUDGET (AREA TWO) V	ASSESSMENT COMPARISON

PROPOSED BUDGET
VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
Administrative Assessments	78,872	
Maintenance Assessments	42,712	
Debt Assessments (Area One)	458,173	
Debt Assessments (Area Two)	457,015	
Interest Income	240	
		
TOTAL REVENUES	$1,037,012	
		
EXPENDITURES		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	0	
Payroll Taxes (Employer)	0	
Management	26,880	
Legal	10,500	
Assessment Roll	10,000	
Audit Fees	3,700	
Insurance	7,500	
Legal Advertisements	850	
Miscellaneous	1,200	
Postage	325	
Office Supplies	650	
Dues & Subscriptions	175	
Website Management	2,000	
Arbitrage Rebate Fee - Area One	650	
Arbitrage Rebate Fee - Area Two	650	
Trustee Fee - Area One	3,550	
Trustee Fee - Area Two	3,550	
Continuing Disclosure Fee - Area One	500	
Continuing Disclosure Fee - Area Two	500	
Administrative Contingency	1,200	
TOTAL ADMINISTRATIVE EXPENDITURES	$74,380	
		
MAINTENANCE EXPENDITURES		
Park Maintenance Tract N	17,160	
Field Operations Management	1,320	
Community Entrance Signage Maintenance	4,200	
Street/Roadway Maintenance	2,600	
Electric Power Service/Misc	2,100	
Engineering/Annual Report/Inspections	1,500	
Irrigation System Maintenance & Upkeep	0	
Mulch & Other Ground Cover/Annuals	0	
Tree/Plant Replacement/Pruning	0	
Tract Lawn & Landscape Services	0	
Tract Lawn Fertilizer & Pest Control	0	
General Maintenance	3,750	
Maintenance Contingency	2,500	
Storm Preparedness	5,020	
TOTAL MAINTENANCE EXPENDITURES	$40,150	
		
TOTAL EXPENDITURES	$114,530	
		
REVENUES LESS EXPENDITURES	$922,482	
		
Bond Payments - Area One	(430,682)	
Bond Payments - Area Two	(429,594)	
		
BALANCE	$62,206	
		
County Appraiser & Tax Collector Fee	(20,735)	
Discounts For Early Payments	(41,471)	
		
EXCESS/ (SHORTFALL)	$0	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$0	

DETAILED PROPOSED BUDGET
VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018 ACTUAL	
FISCAL YEAR 2018/2019 BUDGET	
FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	
Administrative Assessments	61,708	79,359	78,872	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	32,447	42,287	42,712	Expenditures/.94	
Debt Assessments (Area One)	458,173	458,173	458,173	Bond Payments/.94	
Debt Assessments (Area Two)	457,015	457,015	457,015	Bond Payments/.94	
Interest Income	268	240	240	Projected At $20 Per Month	
					
TOTAL REVENUES	$1,009,611	$1,037,074	$1,037,012		
					
EXPENDITURES					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	0	0	0	Supervisor Fees	
Payroll Taxes (Employer)	0	0	0	Supervisor Fees * 7.65%	
Management	25,848	26,388	26,880	CPI Adjustment	
Legal	7,048	11,000	10,500	$500 Decrease From 2018/2019 Budget	
Assessment Roll	10,000	10,000	10,000	As Per Contract	
Audit Fees	3,900	4,000	3,700	Accepted Amount For 2018/2019 Audit	
Insurance	5,750	8,400	7,500	Insurance Estimate	
Legal Advertisements	618	850	850	No Change From 2018/2019 Budget	
Miscellaneous	652	1,200	1,200	No Change From 2018/2019 Budget	
Postage	414	325	325	No Change From 2018/2019 Budget	
Office Supplies	776	600	650	$50 Increase From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Website Management	1,500	1,500	2,000	$500 Increase From 2018/2019 Budget	
Arbitrage Rebate Fee - Area One	650	650	650	No Change From 2018/2019 Budget	
Arbitrage Rebate Fee - Area Two	650	650	650	No Change From 2018/2019 Budget	
Trustee Fee - Area One	3,500	3,600	3,550	$50 Decrease From 2018/2019 Budget	
Trustee Fee - Area Two	3,500	3,600	3,550	$50 Decrease From 2018/2019 Budget	
Continuing Disclosure Fee - Area One	500	500	500	No Change From 2018/2019 Budget	
Continuing Disclosure Fee - Area Two	500	500	500	No Change From 2018/2019 Budget	
Administrative Contingency	0	900	1,200	Administrative Contingency	
TOTAL ADMINISTRATIVE EXPENDITURES	$65,981	$74,838	$74,380		
					
MAINTENANCE EXPENDITURES					
Park Maintenance Tract N	14,293	16,200	17,160	$960 Increase From 2018/2019 Budget	
Field Operations Management	750	900	1,320	$420 Increase From 2018/2019 Budget	
Community Entrance Signage Maintenance	0	4,200	4,200	No Change From 2018/2019 Budget	
Street/Roadway Maintenance	0	2,600	2,600	No Change From 2018/2019 Budget	
Electric Power Service/Misc	1,518	2,100	2,100	No Change From 2018/2019 Budget	
Engineering/Annual Report/Inspections	970	1,500	1,500	No Change From 2018/2019 Budget	
Irrigation System Maintenance & Upkeep	0	0	0		
Mulch & Other Ground Cover/Annuals	0	0	0		
Tree/Plant Replacement/Pruning	0	0	0		
Tract Lawn & Landscape Services	0	0	0		
Tract Lawn Fertilizer & Pest Control	0	0	0		
General Maintenance	0	3,750	3,750	No Change From 2018/2019 Budget	
Maintenance Contingency	0	2,500	2,500	No Change From 2018/2019 Budget	
Storm Preparedness	0	6,000	5,020	$980 Decrease From 2018/2019 Budget	
TOTAL MAINTENANCE EXPENDITURES	$17,531	$39,750	$40,150		
					
TOTAL EXPENDITURES	$83,512	$114,588	$114,530		
					
REVENUES LESS EXPENDITURES	$926,099	$922,486	$922,482		
					
Bond Payments - Area One	(436,262)	(430,682)	(430,682)	2020 P & I Payments Less Earned Interest	
Bond Payments - Area Two	(435,517)	(429,594)	(429,594)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$54,320	$62,210	$62,206		
					
County Appraiser & Tax Collector Fee	(9,708)	(20,737)	(20,735)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(38,118)	(41,473)	(41,471)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$6,494	$0	$0		
					
Carryover From Prior Year	0	0	0	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$6,494	$0	$0		

DETAILED PROPOSED DEBT SERVICE FUND (AREA ONE) BUDGET
VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
6,957	
200	
300	
Projected Interest For 2019/2020	

NAV Tax Collection	
436,262	
430,682	
430,682	
Maximum Debt Service Collection	

Total Revenues	
$443,219	
$430,882	
$430,982		

EXPENDITURES					

Principal Payments	
80,000	
90,000	
90,000	
Principal Payment Due In 2020	

Interest Payments	
336,425	
328,925	
328,925	
Interest Payments Due In 2020	

Bond Redemption	
0	
11,957	
12,057	
Estimated Excess Debt Collections	

Total Expenditures	
$416,425	
$430,882	
$430,982		

Excess/ (Shortfall)	
$26,794	
$0	
$0		

Series 2013 Bond Information - Area One

Original Par Amount =	$5,515,000	Annual Principal Payments Due =	November 1st	
Interest Rate = Issue Date = Maturity Date =	6.00% - 6.50%
October 2013
November 2043	Annual Interest Payments Due =	May 1st & November 1st	

Par Amount As Of 1/1/19 =	
$5,140,000			

DETAILED PROPOSED DEBT SERVICE FUND (AREA TWO) BUDGET
VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
9,611	
200	
300	
Projected Interest For 2019/2020	

NAV Tax Collection	
435,517	
429,594	
429,594	
Maximum Debt Service Collection	

Total Revenues	
$445,128	
$429,794	
$429,894		

EXPENDITURES					

Principal Payments	
65,000	
75,000	
80,000	
Principal Payment Due In 2020	

Interest Payments	
350,559	
344,025	
339,244	
Interest Payments Due In 2020	

Bond Redemption	
0	
10,769	
10,650	
Estimated Excess Debt Collections	

Total Expenditures	
$415,559	
$429,794	
$429,894		

Excess/ (Shortfall)	
$29,569	
$0	
$0		

Series 2013 Bond Information - Area Two

Original Par Amount =	$5,175,000	Annual Principal Payments Due =	November 1st	
Interest Rate = Issue Date = Maturity Date =	6.375% - 7.125%
October 2013
November 2044	Annual Interest Payments Due =	May 1st & November 1st	
Par Amount As Of 1/1/19 =	$4,920,000			

Venetian Parc Community Development District Assessment Comparison

	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
	2016/2017	2017/2018	2018/2019	2019/2020	
	Assessment	Assessment	Assessment	Projected Assessment	
	  Before Discount*	  Before Discount*	  Before Discount*	 	Before Discount*		

Administrative	
$100.61	
$100.46	
$131.39	
$130.59	
Maintenance	$53.72	$53.72	$70.02	$70.72	
Debt	$1,274.46	$1,274.46	$1,274.46	$1,274.46	
Total For Area One Townhomes	$1,428.79	$1,428.64	$1,475.87	$1,475.77	

Administrative	
$100.61	
$100.46	
$131.39	
$130.59	
Maintenance	$53.72	$53.72	$70.02	$70.72	
Debt	$1,622.34	$1,622.34	$1,622.34	$1,622.34	
Total For Area One Single Family Units	$1,776.67	$1,776.52	$1,823.75	$1,823.65	

Administrative	
$100.61	
$100.46	
$131.39	
$130.59	
Maintenance	$53.72	$53.72	$70.02	$70.72	
Debt	$1,274.46	$1,274.46	$1,274.46	$1,274.46	
Total For Area Two Townhomes	$1,428.79	$1,428.64	$1,475.87	$1,475.77	

Administrative	
$100.61	
$100.46	
$131.39	
$130.59	
Maintenance	$53.72	$53.72	$70.02	$70.72	
Debt	$1,622.34	$1,622.34	$1,622.34	$1,622.34	
Total For Area Two Single Family Units	$1,776.67	$1,776.52	$1,823.75	$1,823.65	

* Assessments Include the Following :
4% Discount for Early Payments 1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:	

Area One Townhomes	96	
Area One Single Family Units	207	
Total Area One Units	303	

Area Two Townhomes	
90	
Area Two Single Family Units	211	
Total Area Two Units	301	

Total Area One Units	
303	
Total Area Two Units	301	
Total Units	604