ACREE
Community Development District JULY 31, 2024

AGENDA

Acree Community Development District
475 West Town Place
Suite 114 St. Augustine, Florida 32092

July 24, 2024

Board of Supervisors
Acree Community Development District Dear Board Members:
The Regular Meeting of the Board of Supervisors of the Acree Community Development District will be held Wednesday, July 31, 2024 at 9:30 a.m. at 1000 Riverside Avenue, Suite 600, Jacksonville, Florida 32204.

Roll Call

Public Comments (regarding agenda items below)

Consideration of Minutes of the May 29, 2024 Meeting

Public Hearings:
Public Hearing Expressing the District’s Intent to Utilize the Uniform Method of Levying, Collecting and Enforcing Non-Ad Valorem Assessments (197.3632), Resolution 2024-05
Public Hearing Adopting the Fiscal Year 2025 Budget
1. Consideration	of	Resolution	2024-06,	Relating	the	Annual Appropriations and Adopting the Budget for Fiscal Year 2025

Consideration of Budget Funding Agreement for Fiscal Year 2025
Discussion of CDD Goals & Objectives
Staff Reports
Attorney

Engineer

Manager – Discussion of Fiscal Year 2025 Meeting Schedule

Supervisor’s Request and Public Comments

Ratification of Funding Request No. 5

Financial Statements as of June 30, 2024

Next Scheduled Meeting – To Be Determined

Adjournment

THIRD ORDER OF BUSINESS

MINUTES OF MEETING ACREE
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Acree Community Development District was held Monday, May 29, 2024 at 4:01 p.m. at the offices of Corner Lot Development, 1819 Goodwin Street, Jacksonville, Florida.
Present and constituting a quorum:

George Leone	Chairman
Shannon Acevedo	Vice Chairman
Rick Egger	Supervisor
William English	Supervisor
Josh Beauchamp	Supervisor

Also present:

Daniel Laughlin	District Manager
Wes Haber by phone	District Counsel
Bill Schaefer by phone	District Engineer
Walt Swartz	Corner Lot
Justin Holmes	Corner Lot

The following is a summary of the actions taken at the May 29, 2024 regular meeting of the Board of Supervisors of the Acree Community Development District.

FIRST ORDER OF BUSINESS	Roll Call
Mr. Laughlin called the meeting to order and called the roll. There were five Board members present constituting a quorum.

SECOND ORDER OF BUSINESS	Public Comments (regarding agenda items
below)
Mr. Laughlin stated that no one from the public was present to provide public comments and the next item followed.

May 29, 2024	Acree CDD

THIRD ORDER OF BUSINESS	Organizational Matters
Acceptance of Resignation from Supervisor Wenner
Mr. Laughlin presented the resignation letter form Supervisor Wenner and asked if there were any questions. There being no questions, he asked for a motion of approval.

On MOTION by Mr. Leone, seconded by Mr. Egger, with all in favor, Acceptance of Resignation from Supervisor Wenner, was approved 3-0.

Acceptance of Resignation from Supervisor Allen
Mr. Laughlin presented the resignation letter from Supervisor Allen and offered to answer any questions. There being no questions, he asked for a motion of approval.

On MOTION by Mr. Leone, seconded by Mr. Egger, with all in favor, Acceptance of Resignation from Supervisor Allen, was approved 3-0.

Appointment of New Supervisors to Fill Unexpired Terms of Office (11/2027)
Mr. Haber stated that they should fill the seats in two separate motions and have the first seat filled and sworn in for the participation of the second seat filling. Having already had the names of those who would be filling those seats, Mr. Laughlin asked for a motion to appoint Shannon Acevedo to Seat 2.

On MOTION by Mr. Egger, seconded by Mr. Leone, with all in favor, Appointing Shannon Acevedo to Seat 2, was approved 3-0.

Mr. Laughlin administered the oath of office to Ms. Acevedo. Following the oath of office, he asked for a motion to appoint Josh Beauchamp to Seat 4.

On MOTION by Mr. Egger, seconded by Mr. English, with all in favor, Appointing Josh Beauchamp to Seat 4, was approved 4-0.

Oath of Office for Newly Appointed Supervisors
Mr. Laughlin administered the oath of office to Mr. Beauchamp.

May 29, 2024	Acree CDD

Election of Officers, Resolution 2024-01
Mr. Laughlin noted that an election of officers will be held every time new Supervisors are appointed. Mr. Leone will act as the Chair and Mr. Laughlin asked for a motion of approval.

On MOTION by Mr. Beauchamp, seconded by Mr. Egger, with all in favor, Appointing Supervisor Leone as Chairman, was approved 5-0.

Mr. Laughlin then asked the Board for the approval to appoint Ms. Acevedo as the Vice
Chair.

On MOTION by Mr. Leone, seconded by Mr. Beauchamp, with all in favor, Appointing Supervisor Acevedo as Vicechair, was approved 5-0.

Mr. Laughlin noted that the rest of the Supervisors will act as Assistant Secretaries and while he will act as Secretary and Treasurer. From the GMS office Marilee Giles, Darrin Mossing, and Jim Oliver as Assistant Secretaries and Assistant Treasures for document signing purposes. He asked for a motion to approve that slate of officers.

On MOTION by Mr. Leone, seconded by Mr. English, with all in favor, Resolution 2024-01 Appointing the Slate of Officers Stated Above, was approved 5-0.

FOURTH ORDER OF BUSINESS	Consideration of Minutes of the September
18, 2023 Organizational Meeting
Mr. Laughlin presented the minutes of the September 18, 2023 meeting and asked if there were any questions, comments, or revisions. The Board had no changes to the minutes and there was a motion of approval.

On MOTION by Mr. Egger, seconded by Mr. English, with all in favor, the Minutes of the September 18, 2023 Organizational Meeting, were approved 5-0.

May 29, 2024	Acree CDD

FIFTH ORDER OF BUSINESS	Memorandum	Regarding	Annual	Ethics
Training & Annual Form 1 Filing
Mr. Laughlin discussed ethics training and Form 1 with the Board. Ethics training is required to be completed by December 31st of this year and will be reported on Next year’s Form
1. Mr. Haber offered to answer any Board questions and noted that a link will be provided by the District Manager for the Supervisors to fill out their forms.

SIXTH ORDER OF BUSINESS	Consideration of Resolution 2024-02, Setting
Date of Public Hearing Expressing the District’s Intent to Utilize the Uniform Method of Levying, Collecting and Enforcing Non-Ad Valorem Assessments in Accordance with Section 197.3632, Florida Statutes
Mr. Laughlin presented the resolution to the Board and offered to answer any questions. Mr. Haber noted that this is a formality that is done at every District. Mr. Laughlin suggested July 31st for the hearing date at 9:30 a.m. There were no Board questions and Mr. Laughlin asked for a motion of approval.

On MOTION by Mr. Beauchamp, seconded by Mr. English, with all in favor, Resolution 2024-02, Setting Date of Public Hearing Expressing the District’s Intent to Utilize the Uniform Method of Levying, Collecting and Enforcing Non-Ad Valorem Assessments in Accordance with Section 197.363, Florida Statutes, was approved 5- 0.

SEVENTH ORDER OF BUSINESS	Consideration	of	Resolution	2024-03,
Approving the Proposed Budget for Fiscal Year 2025 and Setting a Public Hearing Date for Adoption
Mr. Laughlin presented the resolution and suggested the July 31st date which is the same as the passed resolution above. There is little change to the budget from last year with minor increases for adding the annual audit fee and increases for assessment administration that will come with the bond issuant. He offered to answer any Board questions and asked for a motion of approval.

May 29, 2024	Acree CDD

On MOTION by Mr. Leone, seconded by Mr. English, with all in favor, Resolution 2024-03 Approving the Proposed Budget for Fiscal Year 2025 and Setting a Public Hearing Date for Adoption, was approved 5-0.

EIGHTH ORDER OF BUSINESS	Consideration	of	Resolution	2024-04,
Extending Terms of Office of Current Supervisors to Coincide with the General Elections
Mr. Laughlin presented the resolution and explained that his is something that they do for the future of seat elections. Seats 1 through 5 will fall on the November 2026 election while Seats 2 and 4 will fall on the November 2028 election and that cycle will continue every four-years.

On MOTION by Mr. English, seconded by Mr. Beauchamp, with all in favor, Resolution 2024-04 Extending Terms of Office of Current Supervisors to Coincide with the General Elections, was approved 5- 0.

NINTH ORDER OF BUSINESS	Staff Reports
A. Attorney
Mr. Haber had nothing further to report and offered to answer and Board questions. There being no questions, the next item followed.

B. Engineer
Mr. Schaefer had nothing to report. He noted that the draft format of the Master Engineer’s Report was circulated for comments. Mr. Laughlin added that staff and Board members will begin the review process.

C. Manager – Report on the Number of Registered Voters (0)
Mr. Laughlin stated that the number of registered voters within the CDD boundaries is currently zero.

TENTH ORDER OF BUSINESS	Supervisor’s Request and Public Comments
There being no comments, the next item followed.

May 29, 2024	Acree CDD

ELEVENTH ORDER OF BUSINESS	Ratification of Funding Request No. 3 & 4
Mr. Laughlin presented funding requests 3 ($19,365.47) and 4 ($5,750.36). He noted that they have already been processed and offered to answer any Board questions.

On MOTION by Mr. Beauchamp, seconded by Ms. Acevedo, with all in favor, Funding Request No. 3 & 4, was ratified.

TWLEFTH ORDER OF BUSINESS	Financial Statements as of April 30, 2024
Mr. Laughlin presented the financial statements as of April 30, 2024. Hearing no questions on the financial statements, the next item followed.

THIRTEENTH ORDER OF BUSINESS	Next Scheduled Meeting – To Be Determined
Mr. Laughlin stated that the next scheduled meeting will be July 31, 2024 at 9:00 a.m. at the corner lot office and noted that if the timeline of events speeds up, they may plan an earlier meeting if necessary.

FOURTEENTH ORDER OF BUSINESS	Adjournment
Mr. Laughlin adjourned the meeting.

On MOTION by Mr. Beauchamp, seconded by Mr. English, with all in favor, the meeting was adjourned.

Secretary/Assistant Secretary	Chairman/Vice Chairman

FOURTH ORDER OF BUSINESS

A.

RESOLUTION 2024-05

RESOLUTION OF THE BOARD OF SUPERVISORS OF THE ACREE COMMUNITY DEVELOPMENT DISTRICT EXPRESSING ITS INTENT TO UTILIZE THE UNIFORM METHOD OF LEVYING, COLLECTING, AND ENFORCING NON-AD VALOREM ASSESSMENTS WHICH MAY BE LEVIED BY THE ACREE COMMUNITY DEVELOPMENT DISTRICT IN ACCORDANCE WITH SECTION 197.3632, FLORIDA STATUTES; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Acree Community Development District (“District”) was established pursuant to the provisions of Chapter 190, Florida Statutes (“Act”), which authorizes the District to levy certain special assessments pursuant to Chapter 170, 190, and 197 Florida Statutes, in order to finance, fund, plan, establish, acquire, construct or reconstruct, enlarge or extend, equip, operate, and maintain District services, facilities, and infrastructure, paying principal and interest on any and all of its indebtedness or for any other purpose permitted by the Act; and

WHEREAS, the above referenced assessments are non-ad valorem in nature and, therefore, may be collected under the provisions of Section 197.3632, Florida Statutes, in which the State of Florida has provided a uniform method for the levying, collecting, and enforcing such non-ad valorem assessments; and

WHEREAS, pursuant to Section 197.3632, Florida Statutes, the District has caused notice of a public hearing to be advertised weekly in a newspaper of general circulation within Duval County for four (4) consecutive weeks prior to such hearing.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE ACREE COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. The District upon conducting its public hearing as required by Section 197.3632, Florida Statutes, hereby expresses its intent to use the uniform method of collecting special assessments imposed by the District as provided in Chapters 170, 190, and 197, Florida Statutes, each of which are non-ad valorem assessments which may be collected annually pursuant to the provisions of Chapter 190, Florida Statutes, in order to finance, fund, plan, establish, acquire, construct or reconstruct, enlarge or extend, equip, operate, and maintain District services, facilities, and infrastructure, paying principal and interest on any and all of its indebtedness or for any other purpose permitted by the Act. The legal description of the boundaries of the real property subject to a levy of assessments is attached and made a part of this Resolution as Exhibit A. The non-ad valorem assessments and the District’s use of the uniform method of collecting its non-ad valorem assessment(s) may continue in any given year when the Board of Supervisors determines that use of the uniform method for that year is in the best interests of the District.

SECTION 2.  The District’s Secretary is authorized to provide the Property Appraiser and Tax Collector of Duval County and the Department of Revenue of the State of Florida with a copy of this Resolution and enter into any agreements with the Property Appraiser and/or Tax Collector necessary to carry out the provisions of this Resolution.

SECTION 3. If any provision of this Resolution is held to be illegal or invalid, the other provisions shall remain in full force and effect.

SECTION 4. This Resolution shall become effective upon its passage and shall remain in effect unless rescinded or repealed.

PASSED AND ADOPTED this 31st day of July, 2024.

ATTEST:	ACREE COMMUNITY
DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairman, Board of Supervisors

Exhibit A:	Legal Description

EXHIBIT A

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Book 2114111, Pllf!81080, of th w  nt Public Reootds of said cmmty. bein,g more ,panfoul y
dtscrlbed a'l tollo,\li'S;
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Acree
Community Development District

Approved Budget
FY2025

July 31, 2024

Table of Contents

1		General Fund

	Narratives

Acree
Community Development District
Approved Budget General Fund

	Adopted Budget	Actuals Thru	Projected Next Projected Thru	Approved Budget	
Description	FY2024	6/30/24		3 Months		9/30/24	FY 2025	

REVENUES:						
Developer Contribution Interest Earned
Carry Forward Surplus	$125,893
-
-	$22,681
-
-	$28,994
-
-	$51,674
-
-	$131,643

-	
TOTAL REVENUES	$125,893	$22,681	$28,994	$51,674	$131,643	

EXPENDITURES:						
Administrative:						
Supervisor Fees	$12,000	$-	$-	$-	$12,000	
FICA Taxes	918	-	-	-	918	
Engineer	12,000	-	5,000	5,000	12,000	
Attorney	25,000	8,301	16,699	25,000	25,000	
Annual Audit	-	-	-	-	3,250	
Assessment Administration	5,000	-	-	-	7,500	
Arbitrage Rebate	-	-	-	-	-	
Trustee Fees	-	-	-	-	-	
Management Fees	45,000	6,750	2,250	9,000	45,000	
Dissemination Agent	7,500	-	-	-	7,500	
Information Technology	1,800	1,350	450	1,800	1,800	
Website Maintenance	1,200	900	300	1,200	1,200	
Telephone	500	10	10	20	500	
Postage & Delivery	1,500	24	476	500	1,500	
Insurance General Liability	5,500	5,000	-	5,000	5,500	
Printing & Binding	1,200	188	312	500	1,200	
Legal Advertising	5,000	632	2,500	3,132	5,000	
Other Current Charges	600	268	60	328	600	
Office Supplies	1,000	2	18	20	1,000	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$125,893	$23,599	$28,075	$51,674	$131,643	

Other Sources/(Uses)

Interfund Transfer In/(Out)	-	-	-	-	-

EXCESS REVENUES (EXPENDITURES)	$-	$(918)	$918	$-	$	-

TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-

Acree
Community Development District
Budget Narrative Fiscal Year 2025

REVENUES

Developer Contribution
It is presently anticipated that the District will enter into a Funding Agreement with the Developer to fund General Fund Expenditures for the Fiscal Year.
Interest
The District earns interest on the monthly average collected balance for each of their investment accounts.

Expenditures - Administrative

Supervisors Fees
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting in which they attend.  The budgeted amount for the fiscal year is based on all supervisors attending 12 meetings.
FICA Taxes
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.
Engineering
The District's engineer will provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review of invoices, and other specifically requested assignments.
Attorney
The District’s Attorney, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.
Annual Audit
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on estimated cost.
Assessment Roll Administration
GMS, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
Dissemination Agent
The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.
Trustee Fees
The District bonds will be held and administered by a Trustee. This represents the trustee annual fee.
District Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.
Information Technology
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services, LLC.
Website Maintenance
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS, LLC and updated monthly.
Telephone
Internet, Phone and Wi-Fi service for Office.
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.
Insurance General Liability
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is an estimated premium.

Acree
Community Development District
Budget Narrative Fiscal Year 2025

Expenditures - Administrative (continued)

Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.
Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.
Current Other Charges
This includes monthly bank charges and any other miscellaneous expenses that incur during the year.
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.
Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Florida Department of Commerce for $175.

1.

RESOLUTION 2024-06
[FY 2025 APPROPRIATION RESOLUTION]

THE ANNUAL APPROPRIATION RESOLUTION OF THE ACREE COMMUNITY DEVELOPMENT DISTRICT (“DISTRICT”) RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGET(S) FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2024, AND ENDING SEPTEMBER 30, 2025; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, for the fiscal year beginning October 1, 2024, and ending September 30, 2025 (“FY 2025”), the District Manager prepared and submitted to the Board of Supervisors (“Board”) of the Acree Community Development District (“District”) prior to June 15, 2024, proposed budget(s) (“Proposed Budget”) along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Section 190.008(2)(a), Florida Statutes; and

WHEREAS, at least sixty (60) days prior to the adoption of the Proposed Budget, the District filed a copy of the Proposed Budget with the local general-purpose government(s) having jurisdiction over the area included in the District pursuant to the provisions of Section 190.008(2)(b), Florida Statutes; and

WHEREAS, the Board set a public hearing on the Proposed Budget and caused notice of such public hearing to be given by publication pursuant to Section 190.008(2)(a), Florida Statutes; and

WHEREAS, the District Manager posted the Proposed Budget on the District’s website in accordance with Section 189.016, Florida Statutes; and

WHEREAS, Section 190.008(2)(a), Florida Statutes, requires that, prior to October 1st of each year, the Board, by passage of the Annual Appropriation Resolution, shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE ACREE COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1.  BUDGET

The Proposed Budget, attached hereto as Exhibit A, as amended by the Board, is hereby adopted in accordance with the provisions of Section 190.008(2)(a), Florida Statutes (“Adopted Budget”), and incorporated herein by reference; provided, however, that the comparative figures contained in the Adopted Budget may be subsequently revised as deemed necessary by the District Manager to reflect actual revenues and expenditures.

The Adopted Budget, as amended, shall be maintained in the office of the District Manager and at the District’s Local Records Office and identified as “The Budget for the Acree Community Development District for the Fiscal Year Ending September 30, 2025.”

The Adopted Budget shall be posted by the District Manager on the District’s official website in accordance with Section 189.016, Florida Statutes and shall remain on the website for at least two (2) years.

SECTION 2.	APPROPRIATIONS

There is hereby appropriated out of the revenues of the District, for FY 2025, the sum(s) set forth in Exhibit A to be raised by the levy of assessments and/or otherwise, which sum is deemed by the Board to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated as set forth in Exhibit A.

SECTION 3.	BUDGET AMENDMENTS

Pursuant to Section 189.016, Florida Statutes, the District at any time within FY 2025 or within 60 days following the end of the FY 2025 may amend its Adopted Budget for that fiscal year as follows:

A line-item appropriation for expenditures within a fund may be decreased or increased by motion of the Board recorded in the minutes, and approving the expenditure, if the total appropriations of the fund do not increase.

The District Manager or Treasurer may approve an expenditure that would increase or decrease a line-item appropriation for expenditures within a fund if the total appropriations of the fund do not increase and if either (i) the aggregate change in the original appropriation item does not exceed the greater of $15,000 or 15% of the original appropriation, or (ii) such expenditure is authorized by separate disbursement or spending resolution.

Any other budget amendments shall be adopted by resolution and consistent with Florida law. The District Manager or Treasurer must ensure that any amendments to the budget under this paragraph c. are posted on the District’s website in accordance with Section 189.016, Florida Statutes, and remain on the website for at least two (2) years.

SECTION 4.	EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED THIS 31st DAY OF JULY, 2024.
ATTEST:	ACREE COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary	Chair/Vice Chair, Board of Supervisors
Exhibit A:	FY 2025 Budget

FIFTH ORDER OF BUSINESS

BUDGET FUNDING AGREEMENT FISCAL YEAR 2025

This Agreement (“Agreement”) is made and entered into effective as of October 1, 2024, by and between:

Acree Community Development District, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, (“District”), and is located in Duval County, Florida (“County”), and

Acree JV, LLC, a Florida limited liability company, and the owner and/or developer of property located within the boundaries of the District (“Developer,” and together with the District, the “Parties”). For purposes of this Agreement, the term “Property” shall refer to that certain property within the CDD owned by the Developer on the Effective Date of this Agreement.

RECITALS

WHEREAS, pursuant to Chapter 190, Florida Statutes, the District was established for the purpose of planning, financing, constructing, operating and/or maintaining certain infrastructure, and is authorized to levy such taxes, special assessments, fees, and other charges as may be necessary in furtherance of the District's activities and services; and

WHEREAS, Developer presently owns and/or is developing the Property within the District, which Property will benefit from the timely construction and acquisition of the District's facilities, activities, and services and from the continued operations of the District; and

WHEREAS, for the fiscal year beginning October 1, 2024, and ending September 30, 2025 (“FY 2025”), the Board of Supervisors (“Board”) of the District adopted its general fund budget (“Budget”) attached hereto as Exhibit A and incorporated herein by reference; and

WHEREAS, the Parties recognize the Budget may be amended from time to time in the sole discretion of the District; and

WHEREAS, the District has the option of levying non-ad valorem assessments on all lands within the District benefitting from the activities, operations and services set forth in the Budget, including the Property, or utilizing such other revenue sources as may be available to it; and

WHEREAS, in lieu of levying assessments on the Property, the Developer is willing to provide such funds as are necessary to allow the District to proceed with its operations as described in the Budget; and

WHEREAS, the Developer agrees that the activities, operations and services provide a special and peculiar benefit to the Property equal to or in excess of the costs reflected in the Budget; and

WHEREAS, the Developer agreed to enter into this Agreement in lieu of having the District levy and collect any non-ad valorem assessments as authorized by law against the lands within the District, including the Property, for the activities, operations, and services set forth in the Budget; and

WHEREAS, Developer and District agree such Budget funding obligation by the Developer may be secured and collection enforced pursuant to the methods provided herein.

NOW, THEREFORE, based upon good and valuable consideration and the mutual covenants of the parties, the receipt of which and sufficiency of which are hereby acknowledged, the parties agree as follows:

FUNDING. The Developer agrees to make available to the District the monies (“Funding Obligation”) necessary for the operation of the District as called for in the Budget attached hereto as Exhibit A within thirty (30) days of written request by the District. Exhibit A attached hereto may be amended from time to time pursuant to Florida law, subject to the Developer’s consent to such amendments to incorporate them herein; provided however, that amendments adopted by the Board at a duly noticed meeting shall have the effect of amending this Agreement without further action of the Parties. As a point of clarification, the District shall only request as part of the Funding Obligation that the Developer fund the actual expenses of the District, and the Developer is not required to fund the total general fund Budget in the event that actual expenses are less than the projected total general fund Budget, as may be amended as provided herein. The funds shall be placed in the District's general checking account. In the event the Developer sells any of the Property during the term of this Agreement, the Developer’s rights and obligations under this Agreement shall remain the same.

ACKNOWLEDGEMENT. The District hereby finds, and the Developer acknowledges and agrees, that the activities, operations and services set forth in the Budget provide a special and peculiar benefit to the Property, which benefit is initially allocated on an equal developable acreage basis. These payments are made by the Developer in lieu of taxes, fees, or assessments which might otherwise be levied or imposed by the District. Nothing contained herein shall constitute or be construed as a waiver of the District’s right to levy assessments, including on the Property, in the event of a funding deficit.

COLLECTION METHODS. The District may enforce the collection of funds due under this Agreement using one or more of the following collection methods:
[Contractual Lien]. The District shall have the right to file a continuing lien (“Lien”) upon all or a portion of the Property, which Lien shall be effective as of the date and time of the recording of a “Notice of Lien” in the public records of the County.
[Enforcement Action] The District shall have the right to file an action against the Developer in the appropriate judicial forum in and for the County.
[Uniform Method; Direct] The District may certify amounts due hereunder as a non- ad valorem assessment on all or any part of the Property for collection, either through the Uniform Method of Collection set forth in Chapter 197, Florida Statutes, or under any method of direct bill and collection authorized by Florida law.
The enforcement of the collection of funds in any of the above manners, including which method(s) to utilize, shall be in the sole discretion of the District Manager on behalf of the District, without the need of further Board action authorizing or directing such.

ENTIRE AGREEMENT; AMENDMENTS. This instrument shall constitute the final and complete expression of the agreement among the Parties relating to the subject matter of this Agreement. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by both of the Parties hereto.

AUTHORIZATION. The execution of this Agreement has been duly authorized by the appropriate body or official of all Parties hereto, each Party has complied with all of the requirements of law, and each Party has full power and authority to comply with the terms and provisions of this instrument.

ASSIGNMENT. This Agreement may be assigned, in whole or in part, by either party only upon the written consent of the other. Any purported assignment without such consent shall be void.

DEFAULT. A default by either Party under this Agreement shall entitle the other to all remedies available at law or in equity, which shall include, but not be limited to, the right of damages, injunctive relief and/or specific performance.

ENFORCEMENT. In the event that any party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the prevailing party shall be entitled to recover from the other all costs incurred, including interest accrued on an unsatisfied Funding Obligation, reasonable fees and costs incurred by the District incident to the collection of the Funding Obligation or for enforcement of the Lien, or reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.

THIRD PARTY BENEFICIARIES. This Agreement is solely for the benefit of the formal Parties herein and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the Parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the Parties hereto and their respective representatives, successors and assigns.

CHOICE OF LAW. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida.

ARM’S LENGTH. This Agreement has been negotiated fully among the Parties as an arm's length transaction. The Parties participated fully in the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the Parties are each deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any Party.

[SIGNATURES ON NEXT PAGE]

IN WITNESS WHEREOF, the Parties execute this Agreement the day and year first written above.

Attest:	Acree Community
Development District

Secretary/Assistant Secretary	By: 	
Its: 	

Acree JV, LLC,
a Florida limited liability company

Witness	By: 	
Its: 	

EXHIBIT A:	FY 2025 Budget

SIXTH ORDER OF BUSINESS

Memorandum
To: Board of Supervisors From: District Management Date: July 31st, 2024
RE:	HB7013 – Special Districts Performance Measures and Standards

To enhance accountability and transparency, new regulations were established for all special districts, by the Florida Legislature, during their 2024 legislative session. Starting on October 1, 2024, or by the end of the ﬁrst full ﬁscal year after its creation (whichever comes later), each special district must establish goals and objectives for each program and activity, as well as develop performance measures and standards to assess the achievement of these goals and objectives. Additionally, by December 1 each year (initial report due on December 1, 2025), each special district is required to publish an annual report on its website, detailing the goals and objectives achieved, the performance measures and standards used, and any goals or objectives that were not achieved.
District Management has identiﬁed the following key categories to focus on for Fiscal Year 2025 and develop statutorily compliant goals for each:
Community Communication and Engagement
Infrastructure and Facilities Maintenance
Financial Transparency and Accountability
Additionally, special districts must provide an annual reporting form to share with the public that reﬂects whether the goals & objectives were met for the year. District Management has streamlined these requirements into a single document that meets both the statutory requirements for goal/objective setting and annual reporting.
The proposed goals/objectives and the annual reporting form are attached as exhibit A to this memo. District Management recommends that the Board of Supervisors adopt these goals and objectives to maintain compliance with HB7013 and further enhance their commitment to the accountability and transparency of the District.

Exhibit A:
Goals, Objectives and Annual Reporting Form

Acree Community Development District Performance Measures/Standards & Annual Reporting Form
October 1, 2024 – September 30, 2025

 Community Communication and Engagement
Goal 1.1: Public Meetings Compliance
Objective: Hold at two regular Board of Supervisor meetings per year to conduct CDD related business and discuss community needs.
Measurement: Number of public board meetings held annually as evidenced by meeting minutes and legal advertisements.
Standard: A minimum of two board meetings were held during the Fiscal Year.
Achieved: Yes ☐ No ☐

Goal 1.2: Notice of Meetings Compliance
Objective: Provide public notice of meetings in accordance with Florida Statutes, using at least two communication methods.
Measurement: Timeliness and method of meeting notices as evidenced by posting to CDD website, publishing in local newspaper and via electronic communication. Standard: 100% of meetings were advertised per Florida statute on at least two mediums (i.e., newspaper, CDD website, electronic communications).
Achieved: Yes ☐ No ☐

Goal 1.3: Access to Records Compliance
Objective: Ensure that meeting minutes and other public records are readily available and easily accessible to the public by completing monthly CDD website checks.
Measurement: Monthly website reviews will be completed to ensure meeting minutes and other public records are up to date as evidenced by District Management’s records.
Standard: 100% of monthly website checks were completed by District Management.
Achieved: Yes ☐ No ☐

 Infrastructure and Facilities Maintenance
Goal 2.1: Field Management and/or District Management Site Inspections Objective: Field manager and/or district manager will conduct inspections per
District Management services agreement to ensure safety and proper functioning of the District’s infrastructure.
Measurement: Field manager and/or district manager visits were successfully completed per management agreement as evidenced by ﬁeld manager and/or district manager’s reports, notes or other record keeping method.
Standard: 100% of site visits were successfully completed as described within district management services agreement
Achieved: Yes ☐ No ☐

Goal 2.2: District Infrastructure and Facilities Inspections
Objective: District Engineer will conduct an annual inspection of the District’s infrastructure and related systems.
Measurement: A minimum of one inspection completed per year as evidenced by district engineer’s report related to district’s infrastructure and related systems.
Standard: Minimum of one inspection was completed in the Fiscal Year by the district’s engineer.
Achieved: Yes ☐ No ☐
 Financial Transparency and Accountability
Goal 3.1: Annual Budget Preparation
Objective: Prepare and approve the annual proposed budget by June 15 and ﬁnal budget was adopted by September 30 each year.
Measurement: Proposed budget was approved by the Board before June 15 and ﬁnal budget was adopted by September 30 as evidenced by meeting minutes and budget documents listed on CDD website and/or within district records.
Standard: 100% of budget approval & adoption were completed by the statutory deadlines and posted to the CDD website.
Achieved: Yes ☐ No ☐
Goal 3.2: Financial Reports
Objective: Publish to the CDD website the most recent versions of the following documents: Annual audit, current ﬁscal year budget with any amendments, and most recent ﬁnancials within the latest agenda package.
Measurement: Annual audit, previous years’ budgets, and ﬁnancials are accessible to the public as evidenced by corresponding documents on the CDD’s website.
Standard: CDD website contains 100% of the following information: Most recent annual audit, most recent adopted/amended ﬁscal year budget, and most recent agenda package with updated ﬁnancials.
Achieved: Yes ☐ No ☐

Goal 3.3: Annual Financial Audit
Objective: Conduct an annual independent ﬁnancial audit per statutory requirements and publish the results to the CDD website for public inspection, and transmit to the State of Florida.
Measurement: Timeliness of audit completion and publication as evidenced by meeting minutes showing board approval and annual audit is available on the CDD’s website and transmitted to the State of Florida.
Standard: Audit was completed by an independent auditing ﬁrm per statutory requirements and results were posted to the CDD website and transmitted to the State of Florida.
Achieved: Yes ☐ No ☐

Chair/Vice Chair:		Date:	 Print Name:	 
Acree Community Development District

District Manager:		Date:	 Print Name:	 
Acree Community Development District

NINTH ORDER OF BUSINESS

Acree
Community Development District	Funding Request #5
July 1, 2024

PAYEE	GENERAL FUND	CAPITAL PROJECT	
			
1	Governmental Management Services		
	Inv# 13 - Management Fees - May 2024	$	1,001.05	
	Inv# 14 - Management Fees - June 2024	1,043.50	
2	Kutak Rock LLP		
	Inv# 3421530 - General Counsel - April 2024	136.00	

Total Funding Request	$	2,180.55

TOTAL	$	2,180.55	$	-

Please make check payable to:

Acree Community Development District
475 West Town Place Ste 114 St Augustine FL 32092

Governmental Management Services, LLC
1001 Bradford Way
Kingston, TN 37763

Invoice

Bill To:
Acree COD
475 West Town Place Suite 114
St. Augustine, FL 32092

Invoice#: 13
Invoice Date: 5/1/24
Due Date: 5/1/24
Case:
P.0. Number:

Description	Rate	Amount

Management Fees - May 2024 Website Administration • May 2024

Information Technology• May 2024		 Copies	

	750.00
100.00
150.00
1.05	750.00
100.00
150.00
1.05	

Governmental Management Services, LLC
1001 Bradford Way
Kingston, TN 37763

Invoice

Bill To:
Acree CDD
475 West Town Place Suite 114
St. Augustine, FL 32092

Invoice #: 14
Invoice Date: 6/1/24
Due Date: 6/1/24
Case:
P.O. Number:

Description	Hours/Qty	Rate	Amount

Management Fees - June 2024 Website Administration - June 2024 Information Technology - June 2024 Copies		750.00
100.00
150.00
43.50	750.00
100.00
150.00
43.50	

K U T A K  R O C K  L L P
TALLAHASSEE, FLORIDA
Telephone 404-222-4600
Facsimile 404-222-4654

Federal ID 47-0597598

July 8, 2024

Check Remit To: Kutak Rock LLP PO Box 30057
Omaha, NE 68103-1157

ACH/Wire Transfer Remit To:
ABA #104000016
First National Bank of Omaha
Kutak Rock LLP A/C # 24690470
Reference: Invoice No. 3421530 Client Matter No. 42123-1
Notification Email: eftgroup@kutakrock.com

Mr. Jim Oliver Acree CDD
c/o Governmental Mangement Services, LLC Suite 114
475 West Town Place
St. Augustine, FL 32092	Invoice No. 3421530
42123-1

Re:	General
For Professional Legal Services Rendered

04/06/24	R. Dugan	0.10	28.00	Prepare Fiscal	Year  2025  budget	
				documents		
04/30/24	W. Haber	0.30	108.00	Participate	in	conference	call	to	
				discuss status		

TOTAL HOURS	0.40

TOTAL FOR SERVICES RENDERED	$136.00	
TOTAL CURRENT AMOUNT DUE	$136.00	
UNPAID INVOICES:		
April 23, 2024	Invoice No. 3381685	66.00	
TOTAL DUE	$202.00	

PRIVILEGED AND CONFIDENTIAL
ATTORNEY-CLIENT COMMUNICATION AND/OR WORK PRODUCT

TENTH ORDER OF BUSINESS

Acree
Community Development District

Unaudited Financial Reporting
June 30, 2024

Table of Contents

	Balance Sheet

	General Fund Income Statement

	Month to Month

	Developer Contributions

	Acree		
	Community Development District Combined Balance Sheet
June 30, 2024		
		General	
		Fund	

Assets:			
Cash:			
Operating Account		$	18,471	
Assessments Receivable		-	
Due from Developer		7,931	
Total Assets		$	26,402	

Liabilities:			
Accounts Payable		$	8,629	
Accounts FICA Payable		-	
Due to Debt Service		-	
Total Liabilites		$	8,629	

Fund Balance:			
Nonspendable:			
Prepaid Items		$	-	
Deposits		-	
Unassigned		17,773	
Total Fund Balances		$	17,773	
			
Total Liabilities & Fund Balance		$	26,402	

Acree
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2024

Adopted	Prorated Budget	Actual	
Budget	Thru 06/30/24	Thru 06/30/24	Variance	

Revenues:		
Developer Contributions	$	125,893	$	94,420	$	22,681	$	(71,739)	
Interest Income	-	-	-	-	
Total Revenues	$	125,893	$	94,420	$	22,681	$	(71,739)	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	12,000	$	9,000	$	-	$	9,000	
FICA Expense	918	-	689	-	689	
Engineering	12,000	9,000	-	9,000	
Attorney	25,000	18,750	8,301	10,449	
Assessment Administration	5,000	-	-	-	
Management Fees	45,000	33,750	6,750	27,000	
Dissemination	7,500	5,625	-	5,625	
Information Technology	1,800	1,350	1,350	-	
Website Maintenance	1,200	900	900	-	
Telephone	500	375	10	365	
Postage & Delivery	1,500	1,125	24	1,101	
Insurance	5,500	5,500	5,000	500	
Printing & Binding	1,200	900	188	712	
Legal Advertising	5,000	3,750	632	3,118	
Other Current Charges	600	450	268	182	
Office Supplies	1,000	750	2	748	
Dues, Licenses & Subscriptions	175	175	175	-	
Total General & Administrative	$	125,893	$	92,089	$	23,599	$	68,489	
					
Excess (Deficiency) of Revenues over Expenditures	$	-	$	2,331	$	(918)	$	(140,229)	

Other Financing Sources/(Uses):					
Transfer In/(Out)	$	-	$	-	$	-	$	-	
Total Other Financing Sources/(Uses)	$	-	$	-	$	-	$	-	
					
Net Change in Fund Balance	$	-	$	2,331	$	(918)	$	(140,229)	
					
Fund Balance - Beginning	$	-		$	18,692		
					
Fund Balance - Ending	$	-		$	17,773		

Acree
Community Development District Month to Month

Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total

Revenues:

Developer Contributions Interest Income	$	8,582
-	$	2,556
-	$	1,611
-	$	2,173
-	$	3,551
-	$	1,027
-	$	1,001
-	$	1,001
-	$	1,180
-	$	-	
-	$	-	
-	$	-	
-	$	22,681
-	
Total Revenues	$	8,582	$	2,556	$	1,611	$	2,173	$	3,551	$	1,027	$	1,001	$	1,001	$	1,180	$	-	$	-	$	-	$	22,681	

Expenditures:											
General & Administrative:											
Supervisor Fees	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
FICA Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	
Engineering	-	-	-	-	-	-	-	-	-	-	-	-	-	
Attorney	2,227	1,541	609	1,173	2,550	-	202	-	-	-	-	-	8,301	
Assessment Administration	-	-	-	-	-	-	-	-	-	-	-	-	-	
Management Fees	750	750	750	750	750	750	750	750	750	-	-	-	6,750	
Dissemination	-	-	-	-	-	-	-	-	-	-	-	-	-	
Information Technology	150	150	150	150	150	150	150	150	150	-	-	-	1,350	
Website Maintenance	100	100	100	100	100	100	100	100	100	-	-	-	900	
Telephone	-	10	-	-	-	-	-	-	-	-	-	-	10	
Postage & Delivery	20	2	1	-	-	-	1	-	-	-	-	-	24	
Insurance	5,000	-	-	-	-	-	-	-	-	-	-	-	5,000	
Printing & Binding	112	2	1	-	1	27	-	1	44	-	-	-	188	
Legal Advertising	-	-	-	-	-	-	-	76	556	-	-	-	632	
Other Current Charges	55	16	18	18	19	99	20	12	11	-	-	-	268	
Office Supplies	0	1	0	-	-	-	0	-	-	-	-	-	2	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Total General & Administrative	$	8,590	$	2,572	$	1,629	$	2,191	$	3,570	$	1,125	$	1,223	$	1,089	$	1,610	$	-  $	-  $	-  $	23,599	
											
Excess (Deficiency) of Revenues over Expenditures	$	(8)	$	(16)	$	(18)	$	(18)	$	(19)	$	(99)	$	(222)	$	(88)	$	(431)	$	-  $	-  $	-  $	(918)	

Other Financing Sources/Uses:											
Transfer In/(Out)	-	-	-	-	-	-	-	-	-	-	-	-	-	
Total Other Financing Sources/Uses	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-	
											
Net Change in Fund Balance	$	(8)	$	(16)	$	(18)	$	(18)	$	(19)	$	(99)	$	(222)	$	(88)	$	(431)	$	-  $	-  $	-  $	(918)	

Acree Community Development District Developer Contributions/Due from Developer

Funding
Request #	Date Prepared	Date
Payment Received	Check Amount	Total
Funding Request FY23	Total
Funding Request FY24	Capital
(Due to Developer)	Over and
(short) Balance Due	

1	
5/17/23	
8/2/23	
$	20,250.00	
$	20,250.00	
$	-	
$	
-	$	-	
2	9/8/23	10/25/24	$	10,942.59	$	10,942.59	$	-	$	-	$	-	
3	2/11/24	3/6/24	$	19,365.47	$	4,615.77	$	14,749.70	$	-	$	-	
4	4/30/24	7/3/24	$	5,750.36		$	5,750.36	$	-	$	-	
5	6/30/24				$	2,180.55	$	-	$	2,180.55	

Due from Developer	$	56,308.42	$	35,808.36	$	22,680.61	$	-	$	2,180.55	
						
Total Developer Contributions		$	35,808.36	$	22,680.61