MINUTES OF MEETING 

WINDSOR CAY 

COMMUNITY DEVELOPMENT DISTRICT 

 

 The regular meeting of the Board of Supervisors of the Windsor Cay Community 
Development District was held Wednesday, May 1, 2024 at 11:30 a.m. at the Cooper Memorial 
Library, 2525 Oakley Seaver Drive, Clermont, Florida. 

 

 Present and constituting a quorum: 

 

 Aaron Struckmeyer Chairman 

 Bernard Sullivan Assistant Secretary 

 Jeff Farhood Assistant Secretary 

 Chris Cleary Assistant Secretary 

 

 

 Also present were: 

 

 

George Flint District Manager, GMS 

 Bill Whitegon by phone District Engineer 

 Ryan Dugan District Counsel 

 Tucker Mackie District Counsel 

 

 

FIRST ORDER OF BUSINESS Roll Call 

 Mr. Flint called the meeting to order and called the roll. Four Board members were present 
constituting a quorum. He noted that he administered the oath of office to Mr. Chris Cleary prior 
to the meeting. 

 

SECOND ORDER OF BUSINESS Public Comment Period 

 There were no members of the public present other than Board and staff. 

 

THIRD ORDER OF BUSINESS Approval of Minutes of the March 27, 
2024 Board of Supervisors Meeting 

 Mr. Flint presented the minutes of the March 27, 2024 Board of Supervisors meeting and 
asked for any comments, corrections, or changes. The Board had no changes to the minutes. 

 


On MOTION by Mr. Struckmeyer, seconded by Mr. Cleary, with all 
in favor, the Minutes of the March 27, 2024 Board of Supervisors 
Meeting, were approved. 

 

FOURTH ORDER OF BUSINESS Organizational Matters: 

A. Administration of Oath to Newly Appointed Board Member: Christopher Cleary 


 Mr. Flint stated they already did the oath for Mr. Cleary before the meeting. 

 *Tucker Mackie joined the meeting at this time. 

 

FIFTH ORDER OF BUSINESS Public Hearing Relating to Assessment 
Area One (Phase 2) Assessments 

Mr. Flint stated they previous adopted two resolutions with one declaring their intent to 
levy assessments and one setting today as the public hearing. 

 

On MOTION by Mr. Struckmeyer, seconded by Mr. Cleary, with all 
in favor, Opening the Public Hearing, was approved. 

 

A. Presentation of Amended and Restated Engineer’s Report 


 Mr. Dugan stated they set this public hearing at the last meeting, and it is essentially for 
the lien and the assessments over the Phase 2 property. They previously went through this for 
Phase One. The engineers report and the methodology report are included in the agenda package, 
and they are the same as what they reviewed at the last meeting. He explained that they are the 
basis for the assessments and are attached to and apart of the Resolution 2024-05 that is in the 
agenda. 

 

B. Presentation of Amended and Restated Master Assessment Methodology Report 


 Mr. Dugan stated the assessments were based on the Engineer’s report, which sets forth 
the capital improvement plan for each phase of the District’s improvement plan. Mr. Dugan asked 
Mr. Whitegon if based on his experience the cost estimates in his engineer’s report reasonable and 
proper. Mr. Whitegon responded yes; they were. Mr. Dugan asked Mr. Whitegon if he was aware 
of any reason that the Phase Two improvements cannot be carried out. Mr. Whitegon responded 
that there was no reason to believe that. Mr. Dugan noted that the engineer’s costs were built into 
the methodology report, which Mr. Flint uses to prepare his report. He asked Mr. Flint if the special 
assessments were reasonably and fairly allocated to the lands subject to them. Mr. Flint responded 


yes. Mr. Dugan asked if the assessed lands would receive special benefits equal to or in excess of 
a special assessments as levied under the methodology. Mr. Flint responded yes. Mr. Dugan asked 
Mr. Flint if it was in the best interest of the District that the special assessments be paid and 
collected in accordance with the methodology in the assessment resolution. Mr. Flint responded 
yes. 

 Mr. Dugan noted there was no members of the public present and no public comments, so 
they could close the public hearing. Mr. Flint asked the Board to close the public hearing. 

 

On MOTION by Mr. Cleary, seconded by Mr. Struckmeyer, with all 
in favor, Closing the Public Hearing, was approved. 

 

C. Consideration of Resolution 2024-05 Levying Assessment Area One (Phase 2) 
Assessments 


 Mr. Dugan stated this resolution was setting the record for the assessments that were just 
discussed in the engineer’s report and methodology report. It sets out certain findings of what they 
have done to date. He stated that those reports they just went through would approve in final form. 

 

On MOTION by Mr. Struckmeyer, seconded by Mr. Cleary, with all 
in favor, Resolution 2024-05 Levying Assessment Area One (Phase 
2) Assessments, was approved final form. 

 

SIXTH ORDER OF BUSINESS Financing Matters 

A. Presentation of Supplemental Assessment Methodology for Assessment Area One 


 Mr. Flint stated previously they prepared a Supplemental Assessment Methodology for 
purposes of marketing the bonds. It was included in the offering memorandum. He explained that 
this version, now that the bonds have been priced, reflects the actual terms of the pricing. He 
reviewed the tables starting with Table 1, which is the development program. Table 2 is the 
estimated costs. Table 3 is the bond sizing reflecting the actual terms. They are average coupon of 
5.5% par amount of $9,670,000. He noted that the version of the report in the agenda package was 
still the preliminary report, but there was a final version of this report prepared and circulated. He 
explained that the intent of this resolution was to finalize the assessments based on the actual 
pricing. 

 


B.Consideration of Resolution 2024-06 Supplemental Assessment Resolution for Series2024 Bonds


Mr. Dugan stated that this report is finalizing the assessments based on the pricing of thebonds that they sold. The final terms of the bonds are set forth in the exhibits to the resolution and 
the annual debt service payments are set forth in Exhibit E, which concludes the resolution. Mr. 
Flint noted Exhibit C that is attached to the resolution reflects the actual terms. He pointed out that 
Exhibit B needs to be updated. 



On MOTION by Mr. Struckmeyer, seconded by Mr. Cleary, with all 
in favor, Resolution 2024-06 Supplemental Assessment Resolution 
for Series 2024 Bonds, was approved. 



C.Consideration of Post Issuance Compliance and Remedial Action Procedures forCDD


Mr. Dugan noted the federal tax laws restrict how bond funds are used. He explained thatthis policy was intended to ensure that the CDD follows those rules. It sets forth responsible parties 
for monitoring how the bond funds are used and also remedial action procedures if they are needed 
in the future. He was happy to answer any questions. 



On MOTION by Mr. Struckmeyer, seconded by Mr. Cleary, with all 
in favor, the Post Issuance Compliance and Remedial Action 
Procedures for CDD, was approved. 



D.Ratification of Acquisition of Completed Improvements


Mr. Dugan stated the CDD based on the Acquisition Agreement with the developer has 
acquired certain completed improvements that are in the CDD’s capital improvement plan. The 
total for all the improvements that the CDD has acquired exceeds $6,000,000. He explained that 
these acquisitions have been reviewed by District staff and District engineer and they satisfy the 
requirements of the Acquisition Agreement. 



On MOTION by Mr. Struckmeyer, seconded by Mr. Cleary, with all 
in favor, Acquisition of Completed Improvements, was ratified. 






E. Consideration of Requisition #1 for Series 2024 Project 


 Mr. Flint stated this Requisition #1 would be funded at closing tomorrow. He explained 
that it was to reimburse Pulte Home Company, LLC for various completed improvements that 
required the onsite and offsite improvements. He noted that they just ratified the acquisition of 
those in their prior action. The requisition is $5,819,785.86. He pointed out that it was signed by 
the engineer this morning and the version in the agenda was not executed, but after the meeting 
the Chair will also sign this on behalf of the District and will provide it to the trustee. 

 

On MOTION by Mr. Struckmeyer, seconded by Mr. Cleary, with all 
in favor, Requisition #1 for Series 2024 Project, was approved. 

 

SEVENTH ORDER OF BUSINESS Presentation of Appraisal of Real Property 
Prepared by Integra Realty Resources 

 Mr. Flint stated a portion of the District’s CIP includes land acquisition. They previously 
ratified the agreement with Integra Realty Resources for them to prepare an appraisal that the 
District can rely on for purposes of that acquisition. It was explained that this appraisal gives them 
the basis they need to move forward. The CDD’s is limited to acquiring land for either the 
appraised value or whatever the cost basis was. Now that they have the appraisal report, they can 
move forward with the real estate acquisition pursuant to the Acquisition Agreement. They are 
working on scheduling the real estate closing. 

 

On MOTION by Mr. Struckmeyer, seconded by Mr. Cleary, with all 
in favor, the Appraisal of Real Property Prepared by Integra Realty 
Resources, was approved. 

 

EIGHTH ORDER OF BUSINESS Authorization for District to Proceed with 
Acquisition of Real Property 

 Mr. Flint stated the thought process would be that they will work with Pulte’s counsel to 
move forward with the actual closing of the real estate transaction and there will be another 
requisition prepared for that purpose. They are estimating right now that the land acquisition value 
based on the appraisal and other factors would be around $3,100,000 or $3,200,000. 

 


On MOTION by Mr. Struckmeyer, seconded by Mr. Cleary, with all 
in favor, Authorizing the District to Proceed with Acquisition of Real 
Property Not to Exceed $3,500,000, was approved. 

 

NINTH ORDER OF BUSINESS Ratification of Access Easement 
Agreement for Maintenance with HOA 

 Mr. Dugan stated on review of the Phase 1 plat and preliminary plats for Phase 2 and 3, 
they realized that there is a stormwater pond behind the gates that is under CDD maintenance 
responsibility, so this Easement Agreement is giving the District permission to go through HOA 
owned property to maintain that stormwater pond. He noted that it was already executed. 

 

On MOTION by Mr. Struckmeyer, seconded by Mr. Cleary, with all 
in favor, the Access Easement Agreement for Maintenance with 
HOA, was ratified. 

 

TENTH ORDER OF BUSINESS Consideration of Resolution 2024-07 
Authorizing a Boundary Amendment 

 Mr. Dugan stated they were informed of Pulte’s desire to add land in the northern border 
to the boundaries of the District. They have worked towards getting the legal description that is 
attached to this resolution. This resolution would authorize District staff to go forward with 
carrying out that boundary amendment petition process. They are referring to it as the Phase 4 
area. 

 

On MOTION by Mr. Struckmeyer, seconded by Mr. Cleary, with all 
in favor, Resolution 2024-07 Authorizing a Boundary Amendment, 
was approved. 

 

ELEVENTH ORDER OF BUSINESS Consideration of Boundary Amendment 
Funding Agreement with Pulte Home 
Company, LLC 

 Mr. Flint stated in order to fund the costs of the boundary amendment, there is a Funding 
Agreement between the CDD and Pulte. 

 


On MOTION by Mr. Struckmeyer, seconded by Mr. Cleary, with all 
in favor, the Boundary Amendment Funding Agreement with Pulte 
Home Company, LLC, was approved. 

 

TWELFTH ORDER OF BUSINESS Ratification of Agreement with Disclosure 
Technology Services, LLC for Disclosure 
Dissemination Support Services 

 Mr. Flint stated this item was an agreement with Disclosure Technology Services, LLC. 
He noted that it was an agreement that was executed in conjunction with the bond issue with DTS, 
LLC. It facilitates the reporting requirements under the Continuing Disclosure Agreement. 

 

On MOTION by Mr. Struckmeyer, seconded by Mr. Cleary, with all 
in favor, the Agreement with Disclosure Technology Services, LLC 
for Disclosure Dissemination Support Services, was ratified. 

 

THIRTEENTH ORDER OF BUSINESS Staff Reports 

A. Attorney 


Mr. Dugan had nothing further to report. 

 

B. Engineer 


 Mr. Whitegon had nothing further to report. 

 

C. District Manager’s Report 


 Mr. Flint had nothing further to report. Since this was a special meeting, they didn’t include 
the financials. 

 

D. Field Manager’s Report 


There being no report, the next item followed. 

 

FOURTEENTH ORDER OF BUSINESS Other Business 

 There being no other business, the next item followed. 

 

FIFTEENTH ORDER OF BUSINESS Supervisors Requests 

There being no comments, the next item followed. 

 


May 1, 2024Windsor CayCDD8SIXTEENTHORDER OF BUSINESSAdjournmentOn MOTION byMr. Struckmeyer, seconded byMr.Cleary,with allin favor, the meeting was adjourned. 
________________________ _____________________________
Secretary/Assistant SecretaryChairman/Vice Chairman 
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