VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT

MIAMI-DADE COUNTY REGULAR BOARD MEETING MAY 9, 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
Conference Room
8500 SW 8th  Street, Suite 228,
Miami, Florida 33144 REGULAR BOARD MEETING May 9, 2019
1:30 p.m.

Call to Order
Proof of Publication…	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
April 22, 2019 Special Board Meeting.	Page 2
Old Business
Staff Report: As Required
New Business
Discussion Regarding Clubhouse Acquisition and Financing Plan
Consider Resolution No. 2019-01 – Adopting a Fiscal Year 2019/2020 Proposed Budget.	Page 5
Consider Engineer’s Report – 2019 Club Project – to be provided under separate cover
Consider Master Methodology Report – 2019 Club Project – to be provided under separate cover
Consider Resolution No. 2019-02 – Authorizing Bond Resolution – to be provided under separate cover
Consider Resolution No. 2019-03 – Declaring the Levy of Special Assessments – to be provided under separate cover
Consider Resolution No. 2019-04 – Setting Public Hearing to Levy, Collect and Enforce Special Assessments – to be provided under separate cover
Consider Resolution No. 2019-05 – Approving Operating Account Check Signers…	Page 15
Administrative & Operational Matters
Consider Greenberg Traurig Proposal Related to Special Assessment Bonds, Series 2019
(Club Acquisition)	Page 16
Discussion Regarding Certificate of Completion – Assessment Area One and Assessment Area Two
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 SPECIAL BOARD MEETING
APRIL 22, 2019

CALL TO ORDER

District Manager Neil Kalin called the April 22, 2019, Special Board Meeting of the Venetian Parc Community Development District to order at 5:30 p.m. in the Meeting Room of the Venetian Parc Community Clubhouse located at 15351 SW 175th Street, Miami, Florida 33187.

PROOF OF PUBLICATION

Mr. Kalin presented proof of publication that notice of the Special Board Meeting had been published in the Miami Daily Business Review on April 10, 2019, as legally required.

ESTABLISH A QUORUM

Mr. Kalin stated that the attendance of Chairperson Sergio Valdes and Supervisors Rachel Hernandez and Eugene Collings constituted a quorum and it was in order to proceed with the meeting.

Others in attendance were: District Managers Neil Kalin & Nancy Nguyen of Special District Services, Inc.; and General Counsel Ginger Wald of Billing, Cochran, Lyles, Mauro & Ramsey, P.A.

Also present were: Aaron Heinrich, Miami, Florida, Chris Flores, Miami, Florida, Chasity Gomez, Miami, Florida, Carlos Rojas, Miami, Florida and Betsy Diaz (Miami Management), Miami, Florida.

DISCUSSION REGARDING RESIGNATION AND APPOINTMENT TO FILL VACANCY IN SEAT #4

Mr. Kalin stated that he was in possession of a resignation letter from Yuthit Baez with an effective date of April 22, 2019, and it would be in order to consider Ms. Baez’s resignation. A brief discussion ensued after which:

A motion was made by Mr. S. Valdes, seconded by Mr. Collings-Bonfill and unanimously passed to accept the resignation of Yuthit Baez (Seat #4) with an effective date of April 22, 2019.

Mr. Kalin advised that there now was a vacancy in Seat #4 and asked if there were any interested residents who would like to serve on the Board of Supervisors (the “Board”) of the Venetian Parc CDD (the “District”). Mr. Aaron Heinrich, who had attended previous meetings and was a qualified person, expressed his interest in serving on the Board. A discussion ensued after which;

A motion was made by Mr. S. Valdes, seconded by Mr. Collings-Bonfill and unanimously passed to appoint Aaron Heinrich to the unexpired 4-year term of office in Seat #4, and such term of office will expire in November 2020.

ADMINISTER OATH OF OFFICE AND REVIEW BOARD MEMBER DUTIES & RESPONSBILITIES

Mr. Kalin, Notary Public in the State of Florida, administered the Oath of Office to Mr. Heinrich. He also went over with Mr. Heinrich his duties and responsibilities as a Board Member with emphasis

on the Sunshine Law, Financial Disclosure for Public Officials (2018 Form 1 must be completed and mailed to the Supervisor of Elections in the County of residency within thirty {30} days of appointment) and the Code of Ethics for Public Officials.

ELECTION OF OFFICERS

As a result of the changes to the Board, Mr. Kalin recommended that re-election of Officers take place. He provided the following slate of names for election:

Chairperson – Sergio Valdes
Vice Chairperson – Eugene Collings-Bonfill
Secretary/Treasurer – Neil Kalin
Assistant Secretaries – Angel Valdes, Rachel Hernandez, Aaron Heinrich, Gloria Perez and Armando Silva.

A discussion ensued after which;

A motion was made by Mr. S. Valdes, seconded by Mr. Collings-Bonfill and passed unanimously to
elect the District’s Officers, as listed 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. March 14, 2019, Regular Board Meeting

Mr. Kalin presented the minutes of the March 14, 2019, Regular Board Meeting and asked if there were any changes. There being no comments or changes, a motion was made by Mr. Collings- Bonfill, seconded by Mr. S. Valdes and passed unanimously approving the minutes of the March 14, 2019, Regular Board Meeting, as presented.

OLD BUSINESS
1. Staff Report, as Required

There was no Staff Report at this time.

NEW BUSINESSS
Discussion Regarding Fiscal Year 2019/2020 Proposed Budget and Re-Establishing Budget Public Hearing Date

Mr. Kalin advised, due to pending business matters that have arisen since the meeting of March 14, 2019, that will affect the Fiscal Year 2019/2020 Proposed Budget and final budget public hearing, he and District Counsel recommended that Resolution No. 2019-01, previously adopted on March 14, 2019, be reconsidered. A discussion ensued after which;

A motion was made by Mr. S. Valdes, seconded by Mr. Collings-Bonfill and unanimously passed to reconsider Resolution No. 2019-01 at a future meeting in order to reset the fiscal year 2019/2020 final budget public hearing.

Discussion Regarding Operating Account Check Signers

This item was deferred.

ADMINISTRATIVE & OPERATIONAL MATTERS
Discussion Regarding Next Meeting Date

Due to the importance of finalizing the Fiscal Year 2019/2020 Proposed Budget to include a proposed budget for the operation and maintenance of the Venetian Parc Clubhouse and related amenities (Club Facilities) and to review any potential to acquire the Club Facilities, there was a consensus of the Board to meet on the scheduled meeting date of May 9, 2019, at 1:30 p.m.

Staff Report, as Required

There was no Staff Report at this time.

BOARD MEMBER & STAFF CLOSING COMMENTS

It was noted that the next meeting would be held on May 9, 2019.

ADJOURNMENT

There being no further business to come before the Board, the April 22, 2019, Special Board Meeting was adjourned at 6:49 p.m. on a motion made by Mr. S. 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 	, 2019 at 	p.m. in the Venetian Parc Community Clubhouse Meeting Room located at 15351 S.W. 175th Street, Miami, Florida 33187, for the purpose of receiving public comments on the Proposed Fiscal Year 2019/2020 Budget.

PASSED, ADOPTED and EFFECTIVE this 9th day of May, 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

CLUBHOUSE OPERATING BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (AREA ONE) V	DETAILED PROPOSED DEBT SERVICE FUND BUDGET (AREA TWO)
VI	DETAILED PROPOSED DEBT SERVICE FUND BUDGET (CLUBHOUSE) VII	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	73,553	
Maintenance Assessments	48,031	
Clubhouse O&M Assessments	354,047	
Debt Assessments (Area One)	458,173	
Debt Assessments (Area Two)	457,015	
Debt Assessments (Clubhouse)	633,219	
Interest Income	240	
		
TOTAL REVENUES	$2,024,278	
		
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	7,500	
Storm Preparedness	5,020	
TOTAL MAINTENANCE EXPENDITURES	$45,150	
		
TOTAL CLUBHOUSE O&M EXPENDITURES	$332,804	
		
TOTAL EXPENDITURES	$452,334	
		
REVENUES LESS EXPENDITURES	$1,571,944	
		
Bond Payments - Area One	(430,682)	
Bond Payments - Area Two	(429,594)	
Bond Payments - Clubhouse	(595,226)	
BALANCE	$116,442	
		
County Appraiser & Tax Collector Fee	(40,481)	
Discounts For Early Payments	(80,961)	
		
EXCESS/ (SHORTFALL)	($5,000)	
		
Carryover From Prior Year	5,000	
		
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	73,553	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	32,447	42,287	48,031	Expenditures/.94	
Clubhouse O&M Assessments	0	0	354,047	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	
Debt Assessments (Clubhouse)	0	0	633,219	Bond Payments/.94	
Interest Income	268	240	240	Projected At $20 Per Month	
					
TOTAL REVENUES	$1,009,611	$1,037,074	$2,024,278		
					
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	7,500	$5,000 Increase From 2018/2019 Budget	
Storm Preparedness	0	6,000	5,020	$980 Decrease From 2018/2019 Budget	
TOTAL MAINTENANCE EXPENDITURES	$17,531	$39,750	$45,150		
					
TOTAL CLUBHOUSE O&M EXPENDITURES	$0	$0	$332,804		
					
TOTAL EXPENDITURES	$83,512	$114,588	$452,334		
					
REVENUES LESS EXPENDITURES	$926,099	$922,486	$1,571,944		
					
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	
Bond Payments - Clubhouse	0	0	(595,226)	2020 P & I Payments Less Earned Interest	
BALANCE	$54,320	$62,210	$116,442		
					
County Appraiser & Tax Collector Fee	(9,708)	(20,737)	(40,481)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(38,118)	(41,473)	(80,961)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$6,494	$0	($5,000)		
					
Carryover From Prior Year	0	0	5,000	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$6,494	$0	$0		

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

CLUBHOUSE OPERATIONS & MAINTENANCE EXPENDITURES	
FISCAL YEAR 2017/2018 ACTUAL	
FISCAL YEAR 2018/2019 BUDGET	
FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	
Access Control Maintenance	0	0	1,200	Access Control Maintenance	
Air Conditioning Maintenance	0	0	1,320	Air Conditioning Maintenance	
Arbitrage (Bond) Fees	0	0	650	Arbitrage (Bond) Fees	
Audit Fees	0	0	1,000	Audit Fees	
Cable & Internet Service	0	0	2,005	Cable & Internet Service	
Computer Services	0	0	2,500	Computer Services	
Continuing Disclosure (Bond) Fees	0	0	500	Continuing Disclosure (Bond) Fees	
Fire Alarm & Building Alarm Monitoring	0	0	1,560	Fire Alarm & Building Alarm Monitoring	
FPL Power	0	0	22,800	
Electricity For Club Lighting, Pool, Cabana & Irrigation Pump	
General Maintenance & Repairs	0	0	9,000	General Maintenance & Repairs	
Gym Equipment Maintenance	0	0	3,000	Gym Equipment Maintenance	
Insurance - Property/Casualty/Liability	0	0	19,200	Insurance - Property/Casualty/Liability	
Irrigation Repairs & Maintenance	0	0	2,400	Irrigation Repairs & Maintenance	
Janitorial Services & Supplies	0	0	30,000	Janitorial Services & Supplies	
Landscape Maintenance (Mulch & Plant Replacement)	0	0	23,400	
Landscape Maintenance (Mulch & Plant Replacement)	
Management Fees (Clubhouse Manager)	0	0	25,368	$3.50 Per Home/Lot Per Month	
Office & Kitchen Supplies	0	0	1,200	Office & Kitchen Supplies	
Oversight & Financial Management	0	0	6,000	Oversight & Financial Management	
Payroll - Club Staff	0	0	105,000	Payroll - Club Staff - $8,750 Per Month	
Pest Control - Interior & Exterior	0	0	1,200	Pest Control - Interior & Exterior	
Pool & Spa Maintenance	0	0	15,000	Pool & Spa Maintenance	
Printing & Postage	0	0	1,200	Printing & Postage	
Property Taxes	0	0	6,000	Property Taxes	
Resident Social Expense	0	0	6,000	Expenses Related To Social Events	
Security	0	0	28,941	Security	
Telephone	0	0	1,260	Telephone	
Trash Collection	0	0	2,400	Trash Collection	
Trustee (Bond) Fees	0	0	4,500	Trustee (Bond) Fees	
Water & Sewer	0	0	7,200	Water & Sewer	
Contingency	0	0	1,000	Contingency	

TOTAL CLUBHOUSE OPERATIONS & MAINTENANCE EXPENDITURES	$	-	$	-	$	332,804		
					
Carryover From Prior Year	
0	
0	
0	Carryover From Prior Year	

TOTAL CLUB OPERATIONS & MAINTENANCE EXPENDITURES					
Operating Expenditures		-	332,804	
$551.00 Per Year * 604 Units = $332,804	
				
Assessment Including Discounts & Fees ($551.00/.94 =	
				
$586.17 Per Year * 604 Units = $354,047)	

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			

DETAILED PROPOSED DEBT SERVICE FUND (SERIES 2019 - CLUBHOUSE) 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	
0	
0	
0	
Projected Interest For 2019/2020	

NAV Tax Collection	
0	
0	
595,226	
Maximum Debt Service Collection	

Total Revenues	
$0	
$0	
$595,226		

EXPENDITURES					

Principal Payments	
0	
0	
120,000	
Principal Payment Due In 2020	

Interest Payments	
0	
0	
475,226	
Interest Payments Due In 2020	

Bond Redemption	
0	
0	
0	
Estimated Excess Debt Collections	

Total Expenditures	
$0	
$0	
$595,226		

Excess/ (Shortfall)	
$0	
$0	
$0		

Note: All Amounts And Dates Are Estimated	

Series 2019 Bond Information - Clubhouse

Estimated Original Par Amount =	$8,895,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	5.25%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	September 2019			
Maturity Date =

Estimated Par Amount As Of 1/1/20 =	May 2049

$8,895,000			

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	
$121.78	
Maintenance	$53.72	$53.72	$70.02	$79.53	
Clubhouse O&M	$0.00	$0.00	$0.00	$586.17	
Clubhouse Debt (Series 2019)	$0.00	$0.00	$0.00	$1,048.38	
Debt (Series 2013)	$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	$3,110.32	

Administrative	
$100.61	
$100.46	
$131.39	
$121.78	
Maintenance	$53.72	$53.72	$70.02	$79.53	
Clubhouse O&M	$0.00	$0.00	$0.00	$586.17	
Clubhouse Debt (Series 2019)	$0.00	$0.00	$0.00	$1,048.38	
Debt (Series 2013)	$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	$3,458.20	

Administrative	
$100.61	
$100.46	
$131.39	
$121.78	
Maintenance	$53.72	$53.72	$70.02	$79.53	
Clubhouse O&M	$0.00	$0.00	$0.00	$586.17	
Clubhouse Debt (Series 2019)	$0.00	$0.00	$0.00	$1,048.38	
Debt (Series 2013)	$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	$3,110.32	

Administrative	
$100.61	
$100.46	
$131.39	
$121.78	
Maintenance	$53.72	$53.72	$70.02	$79.53	
Clubhouse O&M	$0.00	$0.00	$0.00	$586.17	
Clubhouse Debt (Series 2019)	$0.00	$0.00	$0.00	$1,048.38	
Debt (Series 2013)	$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	$3,458.20	

* 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	

RESOLUTION NO. 2019-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT, AUTHORIZING THE ESTABLISHMENT OF A DISTRICT CHECKING/OPERATING ACCOUNT, DESIGNATING DISTRICT OFFICIALS AND/OR AUTHORIZED STAFF TO REVIEW, APPROVE AND ISSUE PAYMENT OF EXPENDITURES, SELECTING THE SIGNATORIES THEREOF; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, The Venetian Parc Community Development District ("District") has established a District checking/operating account in order for the District to expend public funds of the District as authorized and required; and
WHEREAS, the Board of Supervisors (the “Board”) of the District shall designate authorized staff and/or District officials to approve expenditures, via electronic or non-electronic approval processes, from the checking/operating account;
WHEREAS, the Board of the District has selected Todd Wodraska, Jason Pierman, Patricia LasCasas, Armando Silva, Neil Kalin and Sergio Valdes to serve as the signatories, as required, on the District checking/operating account; and
WHEREAS, all resolutions or parts thereof of the District in conflict with the provisions contained herein are to the extent of any such conflict, hereby superseded and repealed.

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

Section 1. The above recitals are hereby adopted.
Section 2.   Each expenditure from the checking/operating account will require a minimum of two (2) approvals and a designated member of the Board, by an electronic approval procedure, will have an opportunity to review the District’s expenditure(s) prior to release of payment(s).
Section 3. When necessary to write checks, the signatures of two (2) of the designated  signatories named herein will be required on all District checks tendered from the District checking/operating account, as approved.

PASSED, ADOPTED and becomes EFFECTIVE this 9th day of May, 2019.

ATTEST:	VENETIAN PARC
COMMUNITY DEVELOPMENT DISTRICT

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

IIGreenbergTraurig
Stephen D. Sanford
Direct Phone: 561-650-7945
Direct Fax: 561-838-8845
E-Mail: sanfords@qtlaw.com
May 2, 2019

Board of Supervisors of the Venetian Pare Community Development District
c/o Mr. Neil Kalin
Special District Services, Inc. 2501A Burns Road
Palm Beach Gardens, FL 33410

Re:	Venetian Pare Community Development District
Special Assessment Bonds, Series 2019 (Club Acquisition) Dear Board of Supervisors:
This letter sets forth Greenberg Tramig , P.A.'s proposal to serve as Bond Counsel in connection with the issuance by the Venetian Pare Community Development District (the "District") of its planned Special Assessment Bonds, Series 2019 (Club Acquisition) (herein, the "Bonds") to acquire the clubhouse and related facilities.
We have extensive experience serving as Bond Counsel for all types of municipal transactions throughout the State of Florida and is a nationally recognized bond  counsel firm. We specialize in community development district financings serving as either bond counsel, disclosure counsel or underwriter's counsel. Our tax department is second to none with specialized expertise in the tax analysis associated with, but not limited to, community development district financings in Florida.
As Bond Counsel we would draft the bond documents and resolutions. We will work closely with Underwriter's counsel, Issuer's counsel and the District Manager on all aspects of this proposed financing, including the validation of the Bonds, the preparation of the offering document. At the closing, we will deliver our approving tax opinion regarding the validity of the Bonds and its tax-exempt status.

We also propose to act as Special Club Counsel, and as such we would propose to perform the following specific services: review and analyze existing Club governance documents and related homeowner community association governance documents; assist in the preparation of an amended or revised or new Club membership plan appropriate for a government owned and publicly financed club facility; assist Bond counsel and the District Counsel with other necessary Club membership issues related to the acquisition and the Bond closing. For our services in this limited scope engagement, we would propose a legal fee of the lesser of actual attorney time incurred at our standards applicable rates or $7,500.
In the event that we are called upon to provide services as Special Club Counsel beyond what is described in the next preceding paragraph or to deliver any legal opinions regarding the Club governance documents or the Club membership plan post-acquisition in conjunction with

Green berg Traudg, P.A. I Att orn eys at Law
777 South Flagler Dri ve I Su it e 300 East I West Palm Beac h, FL 33401 I T +1 561.650.7900 I F +1 561.65'i.6222

the issuance of the Bonds as may be requested by the District, we would separately provide a fee proposal at the time of request, based upon the scope and requested terms of the services or the nature of the opinion that may be requested. In addition, in the event that the District would require legal assistance with post-acquisition Club related matters, we would propose to provide such services as requested on an hourly basis at a discounted rate of l 0% from our standard hourly rates.
Our fee for the Bond Counsel and Special Club Counsel services rendered would be the lesser of $57,500, or the number of actual attorney hours incurred. Our fee and expenses would be payable at the time of the closing. If for any reason the Bonds do not close because of a decision of the District, we would bill the District the lesser of our above quoted fees or the actual number of hours incurred by our attorneys and paralegals at their respective rates discounted by 20%.

We will also seek reimbursement of our reasonable documented expenses in an amount not to exceed $1,000. Our fees are payable at, and contingent upon, the closing of the Bonds (other than our expenses which are not contingent on the closing of the Bonds). Our out-of­ pocket expenses, for which we will bill the District at the time of delivery of the Bonds, will not include the cost of preparing the final bond transcripts. Such item will be a post-closing matter and will be billed to the District at cost. Our fee assumes that the requirements of Circular 230 will not be applicable to the Bonds; but in any event could not exceed the above stated amounts without notice to the Board of Supervisors of the Issuer.

If our fee proposal is acceptable, please indicate by having an authorized Board member sign below on the extra copy of this letter enclosed herewith and return the same to me.
If any Board member should have any questions regarding this proposal or the role of bond counsel, please do not hesitate to call. I would be the principal shareholder responsible for all work regarding this engagement.

Very truly yours,

Agreed and Accepted :

VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT

By:	 Name:	 Title:    	

35212244v1 /999903.000124

Greenberg Traurig, P.A. I Attorneys at Law	2
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