Longleaf Pine Community Development District
3501 Quadrangle Boulevard, Suite 270, Orlando, FL 32817; Phone 407-723-5900; Fax 407-723-5901

The following is the Agenda for the meeting of the Board of Supervisors for the Longleaf Pine Community Development District, scheduled to be held Thursday, November 18, 2021 at 12:00 p.m. at the St. Augustine Outlets located at 500 Outlet Mall Blvd., Suite 500, St. Augustine, FL 32084. Questions or comments on the Board Meeting or proposed agenda may be addressed to Vivian Carvalho at carvalhov@pfm.com or (407) 723-5900. A quorum (consisting of at least three of the five Board Members) will be confirmed prior to the start of the Board Meeting.

If you would like to attend the Board Meeting by phone, you may do so by dialing:
Phone:	1-844-621-3956
Participant Code:	792 560 599 #

PROPOSED BOARD OF SUPERVISORS’ MEETING AGENDA
Roll Call to Confirm Quorum
Public Comment Period

Administrative Matters

Administer Oath of Office to Newly Elected Board of Supervisors
Consideration of the Minutes of the October 7, 2021 Organizational Board of Supervisors Meeting

General Business Matters

Consideration of Resolution 2022-30, Canvassing and Certifying the Landowner Election Results
Consideration of Resolution 2022-31, Electing Officers
Consideration of Resolution 2022-04, Designating the Primary Administrative Office and Principal Headquarters
Ratification of Transition Letter of District Counsel Firm Representation
Public Hearing on the District’s Use of the Uniform Method of Levying, Collection and Enforcing Non-Ad Valorem Assessments
Public Comments and Testimony
Board Comments
Consideration of Resolution 2022-28, Adopting the Uniform Method
Public Hearing on Equalizing, Approving, Confirming, and Levying Special Assessments
Public Comments and Testimony
Board Comments
Consideration of Resolution 2022-29, Equalizing, Approving, Confirming, and Levying Special Assessments

Other Business Staff Reports
District Counsel Interim Engineer District Manager

Supervisor Requests and Audience Comments Adjournment

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

Administer Oath of Office to Newly Elected Board of Supervisors

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS

OATH OF OFFICE

I,	, A CITIZEN OF THE STATE OF FLORIDA AND OF THE UNITED STATES OF AMERICA, AND BEING EMPLOYED BY OR AN OFFICER OF LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT AND A RECIPIENT OF PUBLIC FUNDS AS SUCH EMPLOYEE OR OFFICER, DO HEREBY SOLEMNLY SWEAR OR AFFIRM THAT I WILL SUPPORT THE CONSTITUTION OF THE UNITED STATES AND OF THE STATE OF FLORIDA.

Board Supervisor
ACKNOWLEDGMENT OF OATH BEING TAKEN STATE OF FLORIDA
COUNTY OF ST. JOHNS COUNTY

The	foregoing	oath	was	administered	before	me	this	 		day	of
 	, 2021, by	, who personally appeared   before   me,   and   is   personally   known   to   me   or   has   produced
 	 as identification, and is the person described in and who took the aforementioned oath as a Member of the Board of Supervisors of Longleaf Pine Community Developmenent District and acknowledged to and before me that he/she took said oath for the purposes therein expressed.

(NOTARY SEAL)

Notary Public, State of Florida

Print Name:  	

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

Consideration of the Minutes of the October 7, 2021 Organizational Board of Supervisors Meeting

MINUTES OF MEETING

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS MEETING
Thursday, October 7, 2021
12:00 p.m.
At the St. Augustine Outlets located at 500 Outlet Mall Blvd Suite 500, St Augustine, FL 32084

Board Members present at roll call in person or via phone: Kelly White	Chairperson
James Stowers	Vice Chairperson
Andy Hagan	Assistant Secretary

Also, Present in person or via phone:
Vivian Carvalho	District Manager - PFM Group Consulting LLC	
Venessa Ripoll	Assistant District Manager-		
	PFM Group Consulting LLC	(via phone)	
Kevin Plenzler	PFM Financial Advisors LLC	(via phone)	
Katie Buchanan	District Counsel- Hopping Green & Sams		
Vince Dunn	Interim District Engineer-		
	Dunn Associates, Inc.	(via phone)	
Sete Zare	MBS Capital Markets		
Lo Etienne	Bryant Miller Olive	(via phone)	

FIRST ORDER OF BUSINESS	Organizational Matters Call to Order and Roll Call
The meeting was called to order at 12:09 p.m. Ms. Carvalho proceeded with roll call and confirmed quorum to proceed with the meeting. Those in attendance are outlined above.

Public Comment Period

There were no other public comments.

Administration of the Oath of Office to Office to New Members of the Board of Supervisors

Ms. Carvalho administered the oath of office to the new members of the Board of Supervisors Ms. Kelly White, Mr. Andy Hagan, and Mr. James Stowers prior to the start of the meeting today. Ms. Carvalho asked each Board member if they would like to receive or waive compensation. They each chose to waive compensation.

Teri Hansen and Joanne Schmieder will be administered the oath of office at the next meeting.

Overview of the Florida “Government in the Sunshine” Regulations and other Board Member Responsibilities
Statement of Financial Interest, Form 1
Board	Member Compensation

Ms. Carvalho explained the Sunshine Law, Public Records La, and the Statement of Financial Interest, Form 1.

Review of District Contact List

Ms. Carvalho reviewed the District Contact List.

SECOND ORDER OF BUSINESS	Administrative Matters

Consideration of Resolution 2022-01, Appointing District Officers

Ms. Carvalho asked the Board if they have a recommendation for the slate of officers. A discussion took place. Ms. Carvalho requested to be added as Secretary and Ms. Ripoll as an additional, Assistant Secretary.

ON MOTION by Ms. White, seconded by Mr. Stowers, with all in favor, the Board approved Resolution 2022-01, Appointing District Officers, as follows; Mr. Kelly White as Chairperson, Mr. James Stowers as Vice Chairperson, Ms. Vivian Carvalho as Secretary, and Ms. Venessa Ripoll, Mr. Andy Hagan, Ms. Joanne Schmieder and Ms. Teri Hansen as Assistant Secretaries.

Consideration of Resolution 2022-02,	Designating Treasurer and Assistant Treasurer

Ms. Carvalho presented Resolution 2022-02, Designating Treasurer and Assistant Treasurer. She recommended Ms. Jennifer Glasgow be appointed as Treasurer and Ms. Amanda Lane be appointed as Assistant Treasurer.

ON MOTION by Ms. White, seconded by Mr. Stowers, with all in favor, the Board approved Resolution 2022-02, Designating Ms. Jennifer Glasgow as Treasurer and Ms. Amanda Lane as Assistant Treasurer.

Consideration of Resolution 2022-03, Appointing District Manager,	Assessment Consultant, and Investment
Representative	
a)	District	Management	
	Agreement		
b)	Financial	Advisory	
	Agreement		

Ms. Carvalho presented Resolution 2022-03, Appointing District Manager, Assessment Consultant, and Investment Representative. This Resolution appoints PFM for Financial Advisor and District Management Services. Ms. White asked if the Financial Advisory is for the Financial Consultant purposes and not engaging on other services. Ms. Carvalho confirmed.

Ms. Carvalho requested a motion to approve Resolution 2022-03, Appointing District Manager, Assessment Consultant and Investment Representative.

ON MOTION by Ms. White, seconded by Mr. Hagan, with all in favor, the Board approved Resolution 2022-03, Appointing District Manager, Assessment Consultant, and Investment Representative.

Consideration of Resolution 2022-04, Designating the Primary Administrative Office and Principal Headquarters

Ms. Carvalho presented Resolution 2022-04, Designating the Primary Administrative Office and Principal Headquarters. The District must have a Local Records Office in St. Johns County. A discussion took place. This resolution agenda item will be tabled to the next meeting.

Consideration of Resolution 2022-05, Appointing District Counsel
a) District Counsel Agreement

Ms. Carvalho presented Resolution 2022-05, Appointing District Counsel. The Fee Agreement from Hopping Green & Sams is attached to the Resolution as Exhibit A. There were no questions of comments from the Board, so Ms. Carvalho requested a motion from the Board to approve the Resolution as presented.

ON MOTION by Mr. Stowers, seconded by Ms. White, with all in favor, the Board approved Resolution 2022-05, Appointing District Counsel.

Ms. White wanted to confirm that everything is consistent with fee schedules that the District does with all of their communities. Ms. Carvalho confirmed.

Consideration of Resolution 2022-06,	Designating Registered Agent & Office

Ms. Carvalho presented Resolution 2022-06, Designating Registered Agent and Office. The office will be PFM and Ms. Carvalho will be the Registered Agent.

ON MOTION by Ms. White, seconded by Mr. Hagan, with all in favor, the Board approved Resolution 2022-06, Designating Registered Agent & Office.

Consideration of Resolution 2022-07, Appointing Interim District Engineer
a) Interim District Engineer Agreement

Ms. Carvalho presented Resolution 2022-07, Appointing Interim District Engineer. Dunn & Associates will serve as Interim Engineer. Ms. Buchanan requested approval of Resolution 2022-07 is substantial form as the District needs the rate schedule for Ms. White to review and approve.

Ms. White asked why this is an approval for an Interim District Engineer. Ms. Buchanan explained the District is required to go through the Request for Qualifications Process per Florida Statute. The District appoints an Interim District Engineer to make sure they can prepare the Bond Reports.

ON MOTION by Mr. Hagan, seconded by Mr. Stowers, with all in favor, the Board approved Resolution 2022-07, Approving Interim District Engineer, in substantial form pending review and approval of the rate schedule by the Chairperson.

Authorization of RFQ for District Engineering Services under the CCNA

Ms. Carvalho requested authorization from the Board to go through the RFQ for District Engineering Services under the CCNA.

ON MOTION by Mr. Hagan, seconded by Mr. Stowers, with all in favor, the Board authorized District Staff to proceed with the RFQ for District Engineering Services under the CCNA.

THIRD ORDER OF BUSINESS	Designation of Meetings and Hearing Dates

Consideration of Resolution 2022-08, Setting an Annual Meeting Schedule for Fiscal Year 2021/2022

Ms. Carvalho presented Resolution 2022-08, Setting an Annual Meeting Schedule for Fiscal Year 2021/2022. Ms. Buchanan proposed the Board adopt all of the resolutions to hold the Public Hearing in 30 days with the exception of the budgets public hearing to be held in January 20, 2022. Furthermore hold the Landowner Election at the regular November 18, 2021 Board Meeting. Monthly meetings will be on the 3rd Thursday of the month at 12:00 p.m. at this location.

ON MOTION by Mr. Hagan, seconded by Mr. Stowers, with all in favor, the Board approved Resolution 2022-08, Setting an Annual Meeting Schedule for Fiscal Year 2021/2022.

Consideration of Resolution 2022-09, Designating Date, Time, and Location for Landowners’ Meeting

Ms. Carvalho presented Resolution 2022-09 Designating Date, Time, and Location for Landowners’ Meeting. A discussion took place.

ON MOTION by Ms. White, seconded by Mr. Stowers, with all in favor, the Board approved Resolution 2022-09, Designating Date, Time, and Location for Landowners’ Meeting for November 18, 2021 at 12:00 p.m. at 500 Outlet Mall Blvd Suite 500, St Augustine, FL 32084.

Consideration of Resolution 2022-10, Approving Fiscal Year 2021/2022 Proposed Annual Budget and Setting a Public Hearing Date for Final Adoption

Ms. Carvalho presented Resolution 2022-10, Approving Fiscal Year 2021/2022 Proposed Annual Budget and Setting a Public Hearing Date for Final Adoption. A discussion took place.

ON MOTION by Ms. White, seconded by Mr. Stowers, with all in favor, the Board approved Resolution 2022-10, Approving Fiscal Year 2021/2022 Proposed Annual Budget and Setting a Public Hearing Date for Final Adoption on January 20, 2022 at 500 Outlet Mall Blvd Suite 500, St Augustine, FL 32084 .

Consideration of FY 2021/2022 Budget Funding Agreement

The Board reviewed the Fiscal Year 2021/2022 Budget Funding Agreement with ICI entity owner.

ON MOTION by Ms. Hagan, seconded by Ms. White, with all in favor, the Board approved the FY 2021/2022 Budget Funding Agreement, in substantial form subject to review by Owner entity.

Consideration of Establishment of Auditor Selection Committee

Ms. Carvalho presented the consideration of establishment of Auditor Selection Committee. She explained the District needs to get this in the schedule since they will soon issue Bonds. She suggested the audit process be initiated by January 20, 2022. Ms. Carvalho requested a motion from the Board to approve initiating the Audit Selection Process on January 20, 2022 and appoint the Board as the Auditor Selection Committee.

ON MOTION by Mr. Hagan, seconded by Ms. White, with all in favor, the Board approved initiating the Audit Selection Process on the January 20, 2022 and appoint the Board as the Auditor Selection Committee.

Consideration of Resolution 2022-11, Setting a Public Hearing on Adoption of Rules of Procedure
Rules of Procedure
Note of Rule Development
Notice of Rulemaking

Ms. Carvalho presented Resolution 2022-11, Setting a Public Hearing on Adoption of Rules of Procedure.

Consideration of Resolution 2022-12, Expressing the Intent of the District to Utilize the Uniform Method of Levy, Collection and Enforcement of Non-Ad-Valorem Assessments and Setting a Public Hearing
 	Date Thereon	

Ms. Carvalho presented Resolution 2022-12, Expressing the Intent of the District to Utilize the Uniform Method of Levy, Collection and Enforcement of Non-Ad-Valorem Assessments and Setting a Public Hearing Date Thereon. A discussion took place.

ON MOTION by Ms. White, seconded by Mr. Stowers, with all in favor, the Board approved Resolution 2022-11, Setting a Public Hearing on Adoption of Rules of Procedure and Resolution 2022-12, Expressing the Intent of the District to Utilize the Uniform Method of Levy, Collection and Enforcement of Non Ad-Valorem Assessments and Setting a Public Hearing Date Thereon for November 18, 2021 at 12:00 p.m. at 500 Outlet Mall Blvd., Suite 500, St. Augustine, FL 32084.

FOURTH ORDER OF BUSINESS	Other Organizational Matters

Consideration of Resolution 2022-13, Setting Forth the Policy of the District with Regard to the Support and Legal Defense of the Board of Supervisors and District Staff
a) Authorization to Obtain General Liability and Public Officers Insurance

The Board reviewed Resolution 2022-13, Setting Forth the Policy of the District with Regard to the Support and Legal Defense of the Board of Supervisors and District Staff.

Consideration of Resolution 2022-14, Providing for the Public’s Opportunity to be Heard Addressing Public Meetings and Public Comment Period

The Board reviewed Resolution 2022-14, Providing for the Public’s Opportunity to be Heard Addressing Public Meetings and Public Comment Period.

Consideration of Resolution 2022-15, Adoption of Records Retention Policy; and	Providing	for Severability and Effective Date

The Board reviewed Resolution 2022-15, Adopting of Records Retention Policy; and Providing for Severability and Effective Date.

Consideration of Resolution 2022-16, Adoption of Travel Reimbursement Policy

The Board reviewed Resolution 2022-16, Adoption of Travel Reimbursement Policy.

Consideration of Resolution 2022-17, Adoption of Prompt Payment Act Policies and Procedures

The Board reviewed Resolution 2022-17, Adoption of Prompt Payment Act Policies and Procedures.

Consideration of Resolution 2022-18, Authorizing the Filing of Notice of Establishment

The Board reviewed Resolution 2022-18, Authorizing the Filing of Notice of Establishment.

Consideration of District Website Agreement

The Board reviewed the District Website Agreement.

Consideration of Resolution 2022-19, Authorizing the Disbursement of Funds

The Board reviewed Resolution 2022-19, Authorizing the Disbursement of Funds.

Consideration of Resolution 2022-20, Designating a Qualified Public Depository

The Board reviewed Resolution 2022-20, Designating a Qualified Public Depository.

Consideration of Resolution 2022-21, Authorization to Establish Checking Account and Designation of Authorized Signatories for Operating Account(s)

The Board reviewed Resolution 2022-21, Authorization to Establish Checking Account and Designation of Authorized Signatories for Operating Account(s). Ms. Carvalho noted the Operating account will be under Renasant Bank.

Consideration of Resolution 2022-22, Adopting Alternative Investment Guidelines

The Board reviewed Resolution 2022-22, Adopting Alternating Investment Guidelines.

Consideration of Resolution 2022-23, Granting the Chairman Authority to Execute Certain Documents

The Board reviewed Resolution 2022-23, Granting the Chairman Authority to Execute Certain Documents.

Consideration of Resolution 2022-24, Adopting Internal Controls Policy

The Board reviewed Resolution 2022-24, Adopting Internal Controls Policy.

ON MOTION by Mr. Hagan, seconded by Ms. White, with all in favor, the Board approved Resolution 2022-13 through Resolution 2022-24, as presented.

FIFTH ORDER OF BUSINESS	Financing Matters

Consideration of Bond Financing Team Funding Agreement

Ms. Buchanan provided the Bond Financing Team Funding Agreement and requested approval in substantial form subject to review by the Developer and Landowner. Ms. White asked if while the District is moving forward in issuing Bonds the Developer is responsible for any expenses but ultimately, they will be paid for out of the Bond Issuance. Ms. Buchanan responded, assuming they are appropriate expenditures, they will be paid out of the Bond Issuance.

ON MOTION by Ms. White, seconded by Mr. Hagan, with all in favor, the Board approved the Bond Financing Team Funding Agreement and requested approval in substantial form subject to review by the Developer and Landowner.

Consideration of Underwriter Agreement

Ms. Zare presented the Underwriter Agreement which provides for 2% of the par of the Bonds issued and is contingent on closing. Ms. White asked if it is consistent with what the Board did last time and Ms. Zare answered yes. Ms. White asked if MBS Capital Markets paid for Underwriter’s Counsel. Ms. Zare answered yes and if it in the Agreement she will make sure it is reflected in the Underwriter Agreement.

ON MOTION by Ms. White, seconded by Mr. Stowers, with all in favor, the Board approved the Underwriter Agreement in substantial form subject to confirmation of underwriter’s counsel fees paid by the underwriter.

Consideration	of	Bond Counsel Agreement

Ms. Etienne joined the meeting at 12:32 p.m. via phone. Ms. Etienne presented the Bond Counsel Agreement. Ms. White asked if the Bond Counsel Agreement consistent with the Boggy Branch CDD Bond Issuance.

ON MOTION by Mr. Stowers, seconded by Mr. Hagan, with all in favor, the Board approved the Bond Counsel Agreement subject to confirmation it is consistent with Boggy Branch CDD agreement.

Consideration of Trustee Agreement

Ms. Carvalho presented the Trustee Agreement. UB Bank will be the Trustee.

ON MOTION by Ms. White, seconded by Mr. Hagan, with all in favor, the Board approved the Trustee Agreement.

Consideration of Engineer’s Report

Mr. Dunn reviewed the Engineer’s Report. Ms. White asked Mr. Dunn if he added a 10% Contingency to each line item. Mr. Dunn responded for the Development cost of the future phases which are the costs in 2023, he grossed those up 10% contingency.

The other costs are costs under contract. Ms. White stated the District is validating Bonds based on the $17,000,000.00 total budget for $22,000,000.00. There are a couple things that are not included in the Budget. Ms. White anticipates the District will end up issuing around
$12,000,000.00. The offsite road improvements were not included in this budget and they are eligible costs. She asked if the District should revise this Budget to include the offsite road costs. The Board agreed the District should revise the Budget to include those costs.

Ms. White noted the District made a wetland mitigation payment and asked if that was in this payment. Mr. Dunn stated that is not included in the budget. A suggestion was made to approve the District Engineer’s Report is substantial form subject to the discretion of the Chair of additional costs to be added prior to validating the bonds.

ON MOTION by Ms. White, seconded by Mr. Hagan, with all in favor, the Board approved District Engineer’s Report is substantial form subject to the discretion of the Chair of additional costs to be added prior to validating the bonds.

Consideration of Master Assessment Methodology Report

Mr. Plenzler asked based on the potential changes to the Engineer’s Report, would the Board be approving the Master Assessment Methodology Report in substantial form. If the Engineering costs go up the Bond Validation amount associated with the Master Assessment Methodology Report will likely go up as well. Ms. Buchanan responded that is correct.

Ms. Plenzler reviewed the Master Assessment Methodology Report. It outlines the maximum assessment securing the repayment of the Bonds to be issued by the District subject to any change in the Engineer’s Report going forward. He reviewed the following tables; Tables 1 and 2 are consistent with the Engineer’s Report with respect to the Development volumes and the Capital Improvement Program, Table 4 shows the maximum bond par amount based on the
$17.3 Million in CIP currently in the Engineer’s Report, Tables 5 and 6 outline the principal per unit amounts as well as the annual assessment per unit amount consistent with the current Bond sizing. He analyzed the Debt Service Assessments on an acreage and per unit basis and find the assessments to be reasonably and equitably allocated. He also found there is a benefit received from the property owners within the District in excess of the related cost.

ON MOTION by Mr. Hagan, seconded by Ms. White, with all in favor, the Board approved the Master Assessment Methodology Report in substantial form subject to the final additional costs by discretion by the Chair to be added prior to validating the bonds.

Consideration of Resolution 2022-25, Bond Resolution

A discussion took place to increase the maximum amount of Bonds. The Maximum amount of the Bonds will be increased to $27,500,000.00 related to the potential additional costs of improvements that may be added to the Engineer’s Report.

Mr. Plenzler stated he can make any adjustments to the Master Assessment Methodology Report to make sure the District hits that number.

ON MOTION by Ms. White, seconded by Mr. Stowers, with all in favor, the Board approved Resolution 2022-25, Bond Resolution as revised to increase the total Bond Amount to
$27,500,000.00.

Consideration of Resolution 2022-26, Declaring Special Assessments

Ms. Buchanan reviewed Resolution 2022-26, Declaring Special Assessments.

Consideration of Resolution
2022-27,	Setting	Public	
Hearing	on	Special	
Assessments		

Ms. Buchanan reviewed Resolution 2022-27, Setting Public Hearing on Special Assessments.

The total project cost and the total amount the assessments are intended to offset will be increased to correspond to the adjusted Engineer’s Report. According to Resolution 2022-26 and Resolution 2022-27 a 30-day notice will be provided to the landowner and 20 days published notice with the goal the District finalizes the Assessment Process in November so they can include it within the Bond Validation Proceedings.

ON MOTION by Ms. White, seconded by Mr. Stowers, with all in favor, the Board approved Resolution 2022-26, Declaring Special Assessments and Resolution 2022-27, Setting Public Hearing on Special Assessments for November 18, 2022 at 12:00 p.m. at this location in substantial form subject to adjustments to the final numbers of the Engineer’s Report.

Consideration of Funding Request No. 1

Ms. Carvalho presented Funding Request No. 1 which the amount is to initiate the opening of the Bank Account.

ON MOTION by Ms. White, seconded by Mr. Hagan, with all in favor, the Board approved Funding Request No. 1.

SIXTH ORDER OF BUSINESS	Other Business Staff Reports
District Counsel – No Report

District Manager – No report.

General Manager – Ms. Carvalho noted the District Manager will proceed with all advertisements. The next meeting is scheduled for November 18, 2021 at 12:00 p.m. at this location in which multiple Public Hearings will take place at that meeting.

SEVENTH ORDER OF BUSINESS	Adjournment

Ms. Carvalho requested a motion to adjourn the continued meeting of the Board of Supervisors’ at 12:45 p.m.

ON MOTION by Ms. White, seconded by Mr. Stowers, with all in favor, the Thursday, October 7, 2021 Organizational Board of Supervisors’ Meeting of Longleaf Pine CDD was adjourned at 12:45 p.m.

Secretary / Assistant Secretary	Chairperson / Vice Chairperson

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

Consideration of Resolution 2022-30, Canvassing and Certifying the Landowner Election Results

RESOLUTION 2022-30

A RESOLUTION CANVASSING AND CERTIFYING THE RESULTS OF THE LANDOWNERS’ ELECTION OF SUPERVISORS OF THE LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT HELD PURSUANT TO SECTION 190.006(2), FLORIDA STATUTES

WHEREAS, following proper publication of notice thereof, such landowners meeting was held November 18, 2021 at which the below recited persons were duly elected by virtue of the votes cast in their respective favor; and

WHEREAS, this Resolution canvasses the votes and declares and certifies the results of said election;

NOW, THEREFORE, BE IT RESOLVED BY THE LANDOWNERS AND BOARD OF SUPERVISORS OF THE LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT;

The following persons are found, certified, and declared to have been duly elected as Supervisors of and for the District, having been elected by the votes cast in their favor as shown, to with:

 	  Votes    	

 	  Votes    	

 	  Votes    	

In accordance with said statute, and by virtue of the number of votes cast for the respective Supervisors, they are declared to have been elected for the following terms of office:

Four (4) Year Term

Four (4) Year Term

Two (2) Year Term

Two (2) Year Term

Two (2) Year Term

Said terms of office shall commence immediately upon the adoption of this Resolution PASSED AND ADOPTED THIS 18th DAY OF November, 2021.

Chairperson
LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

ATTEST:

Secretary

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

Consideration of Resolution 2022-31, Electing Officers

RESOLUTION 2022-31

A RESOLUTION OF THE LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT DESIGNATING A CHAIR, VICE CHAIR, SECRETARY, ASSISTANT SECRETARIES, TREASURER, AND ASSISTANT TREASURER OF THE LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT, AND PROVIDING FOR AN EFFECTIVE DATE

WHEREAS, the Board of Supervisors of the Longleaf Pine Community Development District desires to elect the below recited persons to the offices specified.

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

SECTION 1. The following persons are elected to the offices shown:

Chairperson	 		
Vice Chairperson	 		
Secretary	 		
Assistant Secretary	 		
Assistant Secretary	 		
Assistant Secretary	 		
Treasurer	 		
Assistant Treasurer	 		

PASSED AND ADOPTED this       day of	, 2021.

ATTEST:	LONGLEAF PINE COMMUNITY
DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

Consideration of Resolution 2022-04, Designating the Primary Administrative Office and Principal Headquarters

RESOLUTION 2022-04

A RESOLUTION BY THE BOARD OF SUPERVISORS OF THE LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT DESIGNATING THE PRIMARY ADMINISTRATIVE OFFICE AND PRINCIPAL HEADQUARTERS OF THE DISTRICT; DESIGNATING THE LOCATION OF THE LOCAL DISTRICT RECORDS OFFICE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Longleaf Pine Community Development District (the “District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within St. Johns County, Florida; and

WHEREAS, the District desires to designate its primary administrative office as the location where the District’s public records are routinely created, sent, received, maintained, and requested, for the purposes of prominently posting the contact information of the District’s Records Custodian in order to provide citizens with the ability to access the District’s records and ensure that the public is informed of the activities of the District in accordance with Chapter 119, Florida Statutes; and

WHEREAS, the District also desires to specify the location of the District’s principal headquarters for the purpose of establishing proper venue under the common law home venue privilege applicable to the District; and

WHEREAS, the District is statutorily required to designate a local district records office location for the purposes of affording citizens the ability to access the District’s records, promoting the disclosure of matters undertaken by the District, and ensuring that the public is informed of the activities of the District in accordance with Chapter 119 and Section 190.006(7), Florida Statutes.

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

SECTION 1. The District’s primary administrative office for purposes of Chapter 119,
Florida Statutes, shall be located at:  	

SECTION 2. The District’s principal headquarters for purposes of establishing proper venue shall be located in St. Johns County, Florida.

SECTION 3. The District’s local records office shall be located at 3501 Quadrangle Boulevard, Suite 270, Orlando, FL 32817.

SECTION 4. This Resolution shall take effect on	, 2021.

PASSED AND ADOPTED THIS	DAY OF	, 2021.

ATTEST:	LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

Ratification of Transition Letter of District Counsel Firm Representation

Hopping Green & Sams
Attorneys and Counselors

October 19, 2021

VIA EMAIL
Vivian Carvalho, District Manager carvalhov@pfm.com
Kelly White, Chairperson
kwhite@icihomes.com

RE:	Longleaf Pine Community Development District ("Client")

JOINT LETTER BY HOPPING GREEN & SAMS, P.A. AND KUTAK ROCK LLP, ANNOUNCING THE DEPARTURE OF JONATHAN JOHNSON, KATIE BUCHANAN, MIKE ECKERT, TUCKER MACKIE, WES HABER, LINDSAY WHELAN, JOE BROWN, SARAH SANDY, ALYSSA WILLSON AND MICHELLE RIGONI TO KUTAK ROCK LLP

Dear Vivian/Kelly,

As of November 15, 2021, Jonathan Johnson, Katie Buchanan, Mike Eckert, Tucker Mackie, Wes Haber, Lindsay Whelan, Joe Brown, Sarah Sandy, Alyssa Willson and Michelle Rigoni (the "Special District Practice Group") will be withdrawing as attorneys from Hopping Green & Sams, P.A. ("HGS") and will be joining Kulak Rock LLP ("Kutak"). The members of the Special District Practice Group have provided services in connection with HGS's representation of the Client on the above referenced matter(s) (the "Client Matters").
In the coming months, HGS will no longer be providing legal services. Kutak is prepared to continue as the Client's legal counsel with  respect to the  Client  Matters;  however, it is the  Client's choice as to  who  should serve as its legal counsel, and whether the Client Matters and all electronic files and active and closed hardcopy files (collectively, the "Files") should be transferred to Kulak.
Please select one of the following alternatives; however, please be advised that as of November 15, 2021, HGS will no longer be competent to provide legal services to the Client; accordingly, representation by HGS will cease on November 15, 2021, whether or not the Client makes .an election below:
ALTERNATIVE #1. The Client asks that the Client Matters be transferred with the Special District Practice Group to their new firm, Kulak. Please transfer all Files relating to the Client Matters. HGS's legal representation of the Client will cease on the date of HGS's receipt of their written notice. After that date, the Special District Practice Group and their new firm, Kutak, will be responsible for legal representation of the Client in the Client Matters. To the extent that HGS is holding any trust funds or other property of the Client, HGS is further instructed to transfer such funds and/or property to Kulak.

(ii;se sign if you	nt Alternative #1; otherwise, do not sign on this line.)

[DATE]

Post Office Box 6526  Tallahassee, Florida 32314   119 South Monroe Street, Suite 300 (32301)   850.222.7500   850.224.8551 fax   www.hgslaw.com

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HOPPING GREEN & SAMS   .A.

By: Jonathan Johnson Its: President
Date: October 19, 2021

Hopping Green & Sams
Attorneys and Counselors

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

Public Hearing on the District’s Use of the Uniform Method of Levying, Collection and Enforcing Non-Ad Valorem Assessments
Public Comments and Testimony Board Comments
Consideration of Resolution 2022-28, Adopting the Uniform Method

RESOLUTION 2022-28

RESOLUTION OF THE BOARD OF SUPERVISORS OF THE LONGLEAF PINE 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 LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT IN ACCORDANCE WITH SECTION 197.3632, FLORIDA STATUTES; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Longleaf Pine Community Development District (“District”) was established pursuant to the provisions of Chapter 190, Florida Statutes, which authorizes the District to levy certain assessments which include benefit and maintenance assessments and further authorizes the District to levy special assessments pursuant to Chapter 170, Florida Statutes, for the acquisition, construction, or reconstruction of assessable improvements authorized by Chapter 190, Florida Statutes; 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 St. Johns County for four (4) consecutive weeks prior to such hearing.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE LONGLEAF PINE 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 assessments imposed by the District as provided in Chapters 170 and 190, Florida Statutes, each of which are non-ad valorem assessments which may be collected annually pursuant to the provisions of Chapter 190, Florida Statutes, for the purpose of paying principal and interest on any and all of its indebtedness and for the purpose of paying the cost of operating and maintaining its assessable improvements. 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 St. Johns 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	day of	, 2021.

ATTEST:	LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairman, Board of Supervisors

Print Name

Exhibit A:	Legal Description

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

EXHIBIT 1

GENERAL LOCATION

May 25, 2021

LEGEND

LONGLEAF PINE CDD

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

EXHIBIT 2

PARCEL LEGAL DESCRIPTIONS

May 25, 2021

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

Public Hearing on Equalizing, Approving, Confirming, and Levying Special Assessments
Public Comments and Testimony Board Comments
Consideration of Resolution 2022-29, Equalizing, Approving, Confirming, and Levying Special Assessments

RESOLUTION 2022-29

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT DECLARING SPECIAL ASSESSMENTS; INDICATING THE LOCATION, NATURE AND ESTIMATED COST OF THOSE INFRASTRUCTURE IMPROVEMENTS WHICH COST IS TO BE DEFRAYED BY THE SPECIAL ASSESSMENTS; PROVIDING THE PORTION OF THE ESTIMATED COST OF THE IMPROVEMENTS TO BE DEFRAYED BY THE SPECIAL ASSESSMENTS; PROVIDING THE MANNER IN WHICH SUCH SPECIAL ASSESSMENTS SHALL BE MADE; PROVIDING WHEN SUCH SPECIAL ASSESSMENTS SHALL BE PAID; DESIGNATING LANDS UPON WHICH THE SPECIAL ASSESSMENTS SHALL BE LEVIED; PROVIDING FOR AN ASSESSMENT PLAT; ADOPTING A PRELIMINARY ASSESSMENT ROLL; PROVIDING FOR PUBLICATION OF THIS RESOLUTION.

WHEREAS, the Board of Supervisors (the “Board”) of the Longleaf Pine Community Development District (the “District”) hereby determines to undertake, install, plan, establish, construct or reconstruct, enlarge or extend, equip, acquire, operate, and/or maintain the infrastructure improvements (the “Improvements”) described in the District’s Engineer’s Report for Capital Improvements for Infrastructure, dated October 5, 2021, attached hereto as Exhibit A and incorporated herein by reference; and

WHEREAS, it is in the best interest of the District to pay the cost of the Improvements by special assessments pursuant to Chapter 190, Florida Statutes (the “Assessments”); and

WHEREAS, the District is empowered by Chapter 190, the Uniform Community Development District Act, Chapter 170, Supplemental and Alternative Method of Making Local Municipal Improvements, and Chapter 197, the Uniform Method for the Levy, Collection, and Enforcement of Non-Ad Valorem Assessments, Florida Statutes, to finance, fund, plan, establish, acquire, construct or reconstruct, enlarge or extend, equip, operate, and maintain the Improvements and to impose, levy and collect the Assessments; and

WHEREAS, the District hereby determines that benefits will accrue to the property improved, the amount of those benefits, and that special assessments will be made in proportion to the benefits received as set forth in the Master Assessment Methodology, dated October 2021, attached hereto as Exhibit B and incorporated herein by reference and on file at the office of the District Manager, c/o Vivian Carvalho, PFM Consulting Group, LLC, 3501 Quadrangle Boulevard, Suite 270, Orlando, Florida 32817 (the “District Records Office”); and

WHEREAS, the District hereby determines that the Assessments to be levied will not exceed the benefit to the property improved.

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

Assessments shall be levied to defray a portion of the cost of the Improvements.

The nature and general location of, and plans and specifications for, the Improvements are described in Exhibit A, which is on file at the District Records Office. Exhibit B is also on file and available for public inspection at the same location.

The total estimated cost of the Improvements is $18,078,170 (the “Estimated
Cost”).

The Assessments will defray approximately $23,600,000 which includes a portion of the Estimated Cost, plus financing-related costs, capitalized interest, a debt service reserve, and contingency.

The manner in which the Assessments shall be apportioned and paid is set forth in
Exhibit B, including provisions for supplemental assessment resolutions.

The Assessments shall be levied, within the District, on all lots and lands adjoining and contiguous or bounding and abutting upon the Improvements or specially benefitted thereby and further designated by the assessment plat hereinafter provided for.

There is on file, at the District Records Office, an assessment plat showing the area to be assessed, with certain plans and specifications describing the Improvements and the estimated cost of the Improvements, all of which shall be open to inspection by the public.

Commencing with the year in which the Assessments are levied and confirmed, the Assessments shall be paid in not more than thirty (30) annual installments. The Assessments may be payable at the same time and in the same manner as are ad valorem taxes and collected pursuant to Chapter 197, Florida Statutes; provided, however, that in the event the uniform non- ad valorem assessment method of collecting the Assessments is not available to the District in any year, or if determined by the District to be in its best interest, the Assessments may be collected as is otherwise permitted by law.

The District Manager has caused to be made a preliminary assessment roll, in accordance with the method of assessment described in Exhibit B hereto, which shows the lots and lands assessed, the amount of benefit to and the assessment against each lot or parcel of land and the number of annual installments into which the assessment may be divided, which assessment roll is hereby adopted and approved as the District's preliminary assessment roll.

The Board shall adopt a subsequent resolution to fix a time and place at which the owners of property to be assessed or any other persons interested therein may appear before the Board and be heard as to the propriety and advisability of the assessments or the making of the

Improvements, the cost thereof, the manner of payment therefore, or the amount thereof to be assessed against each property as improved.

The District Manager is hereby directed to cause this Resolution to be published twice (once a week for two (2) consecutive weeks) in a newspaper of general circulation within Orange County and to provide such other notice as may be required by law or desired in the best interests of the District.

This Resolution shall become effective upon its passage.

PASSED AND ADOPTED this	day of	, 2021.

ATTEST:	LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairman, Board of Supervisors

Exhibit A:	Engineer’s Report for Capital Improvements for Infrastructure, dated October 5, 2021
Exhibit B:	Master Assessment Methodology dated October 2021

Exhibit A
Engineer’s Report, dated October 5, 2021

ENGINEER’S REPORT CAPITAL IMPROVEMENTS FOR
INFRASTRUCTURE

FOR
LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT
ST. JOHNS COUNTY, FLORIDA

OCTOBER 12, 2021

PREPARED BY:

DUNN & ASSOCIATES, INC.
8647 BAYPINE ROAD, SUITE 200
JACKSONVILLE, FL 32256

Longleaf Pine
Capital Improvements for Infrastructure	Page 1 of 5

TABLE OF CONTENTS
Background

District Infrastructure

Stormwater Management Improvements

Roadway Improvements

Water, Reuse and Sewer Improvements

Water Distribution
Reuse Distribution
Sewage Collection
Pump Stations

Landscaping / Entranceway

Recreation Facilities

EXHIBITS:

Exhibit “1”    General Location Map

Exhibit “2” Parcel No. 1 and No. 2 Legal Descriptions Exhibit “2A” Parcel No. 3 Legal Description
Exhibit “2B” Parcel 1 Legal Map Exhibit “2C” Parcel 2 Legal Map Exhibit “2D” Parcel 3 Legal Map Exhibit “3” Project Layout
Exhibit “4”	Existing / Future Land Use Map Exhibit “5A” Master Water Plan
Exhibit “5B” Master Reuse Plan Exhibit “5C” Master Sewer Plan
Exhibit “5D” Master Drainage Plan Exhibit “6”	Proposed Infrastructure Plan Exhibit “7”	Estimated Cost Summary

Longleaf Pine
Capital Improvements for Infrastructure	Page 2 of 5

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT CAPITAL IMPROVEMENTS FOR INFRASTRUCTURE
Background
Longleaf Pine Community Development District (the “District” or “CDD”) encompasses
528.53 acres of land in three parcels. The property is at the intersection of Longleaf Pine Pkwy. and Veterans Pkwy. in St. Johns County.

ICI Crossroads Holdings, LLC, (the “Developer”) is serving as the master developer of Longleaf Pine (the “Development”), a master planned residential community planned to include 426 residential units and recreational facilities. The Development’s boundaries are entirely within the boundaries of the District. The District was created to finance, acquire, construct, and in some instances, operate and maintain certain public infrastructure improvements (the “Capital Improvement Plan”, described herein) that will support the Development. A portion of the Capital Improvement Plan is anticipated to be financed with special assessment bonds issued by the District.

The Development is generally located in the NE, NW and SW quadrants of Longleaf Pine Pkwy. and Veterans Pkwy. intersection in St. Johns County.

The lands within the Development have been approved by the St Johns County Board of County Commissioners as a Planned Unit Development (PUD). The PUD Ordinance Number 2018-29 allows for up to 426 single-family detached residential units, some non- residential development (which is not a part of the CDD) and certain recreational facilities. Of the approximately 529 gross acres comprising the District 208 acres are considered developable areas. These 208 developable acres include approximately 33 acres of proposed lakes and approximately 23 acres of proposed road rights-of-way. Minor revisions to the currently contemplated development program can be implemented if consistent with the County-approved PUD however the current development plan for the Development is consistent with the approved PUD.

Various lakes will be excavated to handle stormwater runoff. Wetland mitigation bank credits have been purchased to offset wetland impacts from the proposed improvements within Phase 1.

Landscaping improvements are planned at numerous common areas.

Water, reuse and sewer improvements will be constructed to serve the Development including watermains, fire hydrants, reuse mains, two sewage pump stations, force mains, gravity sewer, and other appurtenances.

Transportation improvements will include paving and drainage construction within the District as required by St. Johns County. In addition, offsite roadway improvements including the southerly extension of Veterans Pkwy. will be completed by the Developer but the cost is not included in the Capital Improvement Plan.

Longleaf Pine
Capital Improvements for Infrastructure	Page 3 of 5

The applicable permits for the Development include a St. Johns River Water Management District Environmental Resource Permit, Florida Department of Environmental Protection (FDEP) State 404 Program Individual Permit for wetland impacts, St. Johns County Development Review approval, FDEP Water Distribution Permit and FDEP Wastewater Collection Permits. The SJRWMD permit, the FDEP water and sewer permits, the FDEP State 404 Program Individual permit and St. Johns County approvals have all been issued for the initial phase of construction (153 lots in the SW parcel 3) and construction is currently underway. Permitting is underway for the 35 lots in Phase 2 and the Amenity Center.

Permit Status:

St. Johns River Water Management District Permit No. 113098-16 (for all site horizontal improvements, plus dredge and fill operations in District jurisdictional wetlands) for Phase 1 was issued 12/14/2020 and expires 12/14/2025.
FDEP Water Distribution System Permit No. 0159044-818-DSGP for Phase 1 was issued 11/18/2019 and expires 11/17/2024.
FDEP Sewage Collection/Transmission System Permit No. 0143628-369-DWC for Phase 1 was issued 11/18/2019 and expires 11/17/2024.
St. Johns County engineering plans approval under SUBCON 2019-000025 for Phase 1 was issued 01/25/2021 and expires 01/25/2026.
FDEP State 404 Program Individual Permit No. 55-396565-001-SFI for Phase 1 was issued7/9/21 and expires 7/9/26.

The capital improvements reflected in this report represent the present intentions of the District. The implementation of any improvements discussed in this plan requires the final approval by many regulatory and permitting agencies including Board of County Commissioners of St. Johns County. The actual improvements may vary from the capital improvements in this report based upon changes in regulatory criteria, permitting requirements, the development needs of the lands within the District and other such changes in the Development. This report, therefore, may be amended from time to time.

Cost estimates contained in this report have been prepared based on the best available information at this time and are a reasonable estimation based on current unit prices in the area. The actual costs of construction, final engineering design, planning, approvals and permitting may vary from cost estimates presented.

Phase one of the Capital Improvement Plan includes 153 lots with completion of the residential infrastructure anticipated in Summer 2022 for Phase 1.

Ultimate project buildout is presently expected to occur over a several year period depending on market conditions. See Exhibit 3 for the project phasing.

Longleaf Pine
Capital Improvements for Infrastructure	Page 4 of 5

District Infrastructure (Capital Improvement Plan)
Stormwater Management Improvements
The lands within the District are made up of pine forests, wetlands and smaller areas of upland hardwood forests. The natural runoff from Parcel 1 flows west, Parcel 2 flows east into a wetland and Parcel 3 flows into the existing JEA easement to the south, and to the west into a wetland system.

The proposed stormwater management improvements will provide water quality treatment and flood control for all property within the CDD. Such improvements include curbing, inlets, pipes, roadway underdrain, stormwater lakes and lake outfall control structures. Some of the future lakes will be interconnected. The local drainage systems and the lakes are designed to meet the requirements of St. Johns County and the St. Johns River Water Management District.

The cost of the master storm drainage system includes the collection and conveyance systems. The cost of the mass earthwork associated with lake excavation and lake outfall control structures is also included. Such mass earthwork does not include any subsequent grading that may be required for lot pad development or home construction, which will not be financed by the District. These stormwater management facilities will be owned and operated by the District.

Wetland impacts associated with the proposed development require mitigation. The approved mitigation for Phase 1 consists of wetland preservation and wetland mitigation bank credits.

Roadway Improvements
The District presently intends to design, finance, install and/or acquire certain transportation facilities within its boundaries. These proposed improvements are presently contemplated in the current site plan.

A description of the roadway improvements follows.

The proposed road system will include construction of the numerous interior minor roadways within the development. The road improvements consist of the paving, curbing, limerock base, stabilized subgrade and sidewalks.

All interior roads will be constructed and/or acquired by the CDD for operation and maintenance. The $1,997,300 roadway cost estimate listed in exhibit 7 includes all of the interior minor roadways within the development.

As previously mentioned, Veterans Parkway south of Longleaf Parkway with turn lanes into the site will be completed by the developer but the cost is not included in this Capital Improvement Plan.

Longleaf Pine
Capital Improvements for Infrastructure	Page 5 of 5

Water, Reuse and Sewer Improvements
The District presently intends to finance, design, construct, install and/or acquire water, reuse and sewer facilities within its boundaries. The District financed water, reuse and sewer improvements include the complete water, reuse and sewer systems including two sewage pump stations and associated sewage forcemain.

Water Distribution
The District intends to provide a complete water transmission and distribution system, including fire protection and water service to serve all property within the District.

Reuse Distribution
The District intends to provide a complete reuse irrigation transmission and distribution system and reuse service to serve all property within the District.

Sewage Collection
The District intends to provide a sewage collection system including gravity sewer, manholes and sewer services to serve all property within the District.
Pump Stations
The District intends to install two (2) sewage pumping stations with associated forcemains within the boundaries of the District.

All water, reuse and sewer design and construction will meet the requirements of St. Johns County and JEA. These facilities will be owned, operated, and maintained by JEA after construction and dedication by the District. JEA has issued a Water and Sewer Availability Letter which confirms service availability for the Development. In addition, JEA has approved the construction plans and issued permits for the water, reuse and sewer construction for Phase 1.

Landscaping / Entranceway
The District intends to finance, design, construct and/or acquire certain landscaping and entry features within its boundaries. These improvements are to include roadway streetscape tree planting, irrigation, signage, fencing and entranceway features ancillary to the roadway improvements, and in common areas. These facilities will be owned, operated, and maintained by the District.

Recreation Facilities
The District presently intends to finance, design, construct and/or acquire certain recreation facilities within its boundaries. The recreation facilities may include, but are not limited to, a pool with bathhouse, parking lot, tot lot, sport courts and/or fields. These facilities will be owned, operated and maintained by the District.

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

EXHIBIT 1

GENERAL LOCATION

May 25, 2021

LEGEND

LONGLEAF PINE CDD

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

EXHIBIT 2

PARCEL LEGAL DESCRIPTIONS

May 25, 2021

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

                                   EXHIBIT 2A

PARCEL LEGAL DESCRIPTIONS

May 25, 2021

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

EXHIBIT 2A

  EXHIBIT 2B  

PARCEL 1 LEGAL MAP

May 25, 2021

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

EXHIBIT 2C

EXHIBIT 2B

PARCEL 2 LEGAL MAP

May 25, 2021

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

EXHIBIT 2C

   EXHIBIT 2D  

PARCEL 3 LEGAL MAP

May 25, 2021

LONGLEAF PINE
DEVELOPMENT PHASING	COMMUNITY

PHASE 1	153 LOTS
PHASE 2	35 LOTS

DEVELOPMENT DISTRICT

FUTURE	238 LOTS	VETERANS	EXHIBIT 3

TOTAL	426 LOTS

PARK

PROJECT LAYOUT

FUTURE

FUTURE

FUTURE	PHASE 1
GATED
ENTRANCE
AMENITY CENTER

FUTURE

CREEKSIDE HIGH SCHOOL

May 25, 2021

PHASE 1	PHASE 2

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

JULINGTON CREEK DRI

RESIDENTIAL-B

RES-C

EXHIBIT 4

EXISTING / FUTURE LAND USE

May 25, 2021

PARK / RECREATION

PUBLIC

COMMUNITY COMMERCIAL

LEGEND

LONGLEAF PINE CDD

RESIDENTIAL-B
RESIDENTIAL-C

RESIDENTIAL-B

COMMUNITY COMMERCIAL
RUR / SYLV

RUR / SYLV

RESIDENTIAL-B

EXISTING WATER MAINS
W	PROPOSED WATER MAINS
NOTE: EXACT SIZE AND LOCATION OF WATER MAINS WILL BE DETERMINED AT TIME OF FINAL
ENGINEERING DESIGN. RESIDENTIAL SITE PLANS ARE PRELIMINARY AND SUBJECT TO CHANGE.

LEGEND

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

EXHIBIT 5A

4"WM

EXIST 16"WM

MASTER WATER PLAN

MMaayy 2265,, 22002211

EXIST 16"WM

8"WM

8"WM

10"WM

4"WM

12"WM

8"WM

EXIST 16"WM

12"WM

EXIST 16"WM

12"WM	4"WM
10"WM
4"WM	8"WM
4"WM

8"WM
12"WM	4"WM

LEGEND

EXISTING REUSE MAINS
R	PROPOSED REUSE MAINS
NOTE: EXACT SIZE AND LOCATION OF REUSE MAINS WILL BE DETERMINED AT TIME OF FINAL
ENGINEERING DESIGN. RESIDENTIAL SITE PLANS ARE PRELIMINARY AND SUBJECT TO CHANGE.

4"RM

EXIST 20"RM

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

EXHIBIT 5B

MASTER REUSE PLAN

MMaayy 2265,, 22002211

EXIST 16"RM

6"RM

6"RM

8"RM

4"RM

6"RM

6"RM			8"RM	
6"RM			

		4"RM	
				
4"RM				
4"RM				

8"RM

EXIST 20"RM

EXIST 16"RM

 	 	 	

6"RM

8"RM	4"RM

LEGEND

EXISTING FORCE MAINS
FM		PROPOSED FORCE MAINS PROPOSED SEWER MAINS
NOTE: EXACT SIZE AND LOCATION OF SEWER MAINS WILL BE DETERMINED AT TIME OF FINAL
ENGINEERING DESIGN. RESIDENTIAL SITE PLANS ARE PRELIMINARY AND SUBJECT TO CHANGE.

8"SS (TYP)

EXIST 16"FM

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

EXHIBIT 5C

MASTER SEWER PLAN

MMaayy 2265,, 22002211

8"SS (TYP)

6"FM

EXIST 16"FM

6"FM

PUMP
STATION NO. 2

PUMP
STATION NO. 1

LEGEND

PROPOSED STORM DRAINAGE PIPES
2	STORMWATER POND

NOTE: EXACT SIZE AND LOCATION OF STORM MAINS WILL BE DETERMINED AT TIME OF FINAL
ENGINEERING DESIGN. RESIDENTIAL SITE PLANS ARE PRELIMINARY AND SUBJECT TO CHANGE.

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

EXHIBIT 5D

MASTER DRAINAGE PLAN

MMaayy 2265,, 22002211

16
18	17

15

13	8	14

12
7	GATED
ENTRANCE
5

6	4	AMENITY
11	CENTER
3

10

9

1
2

EXHIBIT “6”

PROPOSED INFRASTRUCTURE PLAN LONGLEAF PINE
COMMUNITY DEVELOPMENT DISTRICT

FACILITY	OWNERSHIP	OPERATION	
		MAINTENACE	
Roadways	CDD	CDD	
Water, Reuse & Wastewater	JEA	JEA	
Stormwater Management	CDD	CDD	
Landscaping/Entranceway	CDD	CDD	
Recreation	CDD	CDD	

Acceptance of any offer of dedication shall be at the sole discretion of the Board of County Commissioners. Nothing herein shall be construed as affirmative acceptance by the Board of County Commissioners of improvements or any operation and maintenance obligation of the District.

EXHIBIT “7”

ESTIMATED COST SUMMARY LONGLEAF PINE
COMMUNITY DEVELOPMENT DISTRICT

COST ESTIMATE SHEET
LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

Annual Outlay3
INFRASTRUCTURE COSTS	Total	2021	2022	2023

1. Clearing and Earthwork	4,757,500	1,409,760	352,440	2,995,300	
2. Roadway Improvements	2,066,900	612,480	153,120	1,301,300	
3. Utilities (Water, Reuse, Sewer) 1	6,310,700	1,870,000	467,500	3,973,200	
4. Stormwater Systems	2,079,000	616,000	154,000	1,309,000	
5. Landscaping/Entrance Way	1,351,570	1,081,256	270,314		
6. Recreational Improvements2	1,210,000	880,000	330,000		
7. Engineering, Testing, Planning, CEI	302,500	220,000	82,500		
TOTAL COSTS	$18,078,170
Includes all Water, Reuse, Sewer, Sewer Force Main, and Pump Stations.
These estimates contemplate the exercise of special powers pursuant to Sections 190.012(2)(a) and 190.012(2)(d), Florida Statutes.
Represents anticipated annual outlay of costs based on anticipated construction timeline.
10% contingency has been added to all costs in 2021 and 2022.

Note: This exhibit identifies the current intentions of the District and is subject to change based upon various factors such as future development plans or market conditions.

All estimates are 2021 dollars. Recreation cost estimate is based on historical bids for similar work. All other estimated costs are based on existing contracts for phase 1 and projections for the future phases. This cost summary contemplates the exercise of special powers by the District.

Exhibit B
Master Assessment Methodology, dated October 2021

MASTER ASSESSMENT METHODOLOGY

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

October 2021

Prepared for:

Members of the Board of Supervisors,
Longleaf Pine Community Development District

Prepared on October 12, 2021

PFM Financial Advisors LLC
3501 Quadrangle Boulevard, Ste 270
Orlando, FL 32817

MASTER ASSESSMENT METHODOLOGY LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

October 12, 2021

Introduction

Purpose

This “Master Assessment Methodology,” (“Methodology”) provides a system for the allocation of non-ad valorem special assessments securing the repayment of bond debt planned to be issued by the Longleaf Pine Community Development District (“District”) to fund beneficial public infrastructure improvements and facilities. The Methodology described herein has two goals: (1) quantifying the special benefits received by properties within the District as a result of the construction of the District’s improvements and facilities, and (2) equitably allocating the costs incurred by the District to provide these benefits to properties in the District.

The District plans to implement a capital improvement program (“CIP”) that will allow for the development of property within the District. The District plans to fund the majority of its CIP through bond debt financing. This bond debt will be repaid from the proceeds of non-ad valorem special assessments levied by the District. These special assessments will serve as liens against properties within the boundary of the District that receive a special benefit from the CIP. This Methodology is designed to conform to the requirements of Chapters 170, 190, and 197 of the Florida Statutes with respect to special assessments and is consistent with our understanding of the case law on this subject.

Background

The District was created on September 23, 2021. The District encompasses approximately 528.53 acres in St. Johns County. The Engineer’s Report Capital Improvements for Infrastructure, dated October 12, 2021 (“Engineer’s Report”)1 as provided by Dunn & Associates, Inc. (“District Engineer”) provides a description of the area and a location map.

This master assessment report provides a methodology to allocate the debt over the approximately
528.53 acres in the District that will receive a special benefit from the installation of the proposed District’s portion of the capital improvement plan (“CIP”). It is the District’s debt-funded capital infrastructure improvements that will allow the development of the lands within the District. By making development of the lands within the District possible, the District creates benefits to the lands within the District.

1 Dunn & Associates, Inc.., (October 12, 2021), “Engineer’s Report Capital Improvement for Infrastructure”

The methodology described herein allocates the District’s debt to the District’s lands based upon the benefits received from the infrastructure program. This report is designed to conform to the requirements of Chapter 170, F.S. with respect to special assessments and is consistent with our understanding of the case law on this subject.2

Projected Land Use Plan for the District

Table 1 summarizes the land use development plan. As detailed in the Engineer’s Report, the land use plan envisions a mix of residential units over multiple phases. At this time the established development entity ICI Crossroads Holdings, LLC (“Developer”) intends to develop the property as described in the Engineer’s Report.

Table 1. Development Plan for Longleaf Pine

Land Use	Total	
SF 50’ Lot	58	
SF 60’ Lot	368	
Totals	426	
Source: Developer and Dunn and Associates, Inc

At the outset, the CIP is based on the land uses the Developer plans for the lands within the District as shown in Table 1. However, until either: (a) parcels of land along with their development entitlements are sold by the landowner to the new landowner and entitlements conveyed or (b) plats are filed, the precise land uses are unknown.

Therefore, the District initially will impose assessments on a per gross acre basis on the unsold and unplatted properties within the District based on the land use plan outlined in Table 1 (or in any updates issued from time to time), and on any sold or platted property in accordance with its actual land use or contractual entitlement as transferred to the new landowner from the landowner.

There is one important provision. The debt per acre on the properties that remain unplatted in the District is not allowed to increase above its debt ceiling amount. The debt ceiling amount is set whenever the District issues debt. It is calculated by dividing the unplatted acres of the properties in the District into the debt allocated to the unplatted properties. In addition, this requirement will be tested at four intervals based upon the percentage of total acres that are developed. The intervals are at 25%, 50%, 75%, 90% and 100% of the gross acres.

CIP - Infrastructure Installation

The District will construct its public infrastructure and improvements as outlined in the Engineer’s Report, as prepared by the District Engineer. The District infrastructure and improvements for the District’s entire CIP are presented in Table 2.

2 See for City of Winter Springs v. State, 776 So.2d 255 (Fla 2003) and City of Boca Raton, v. State, 595 So.2d 25 (Fla 1992)

Table 2. Summary of CIP Cost Estimates (1)
		
	Item No.	Description	TOTALS	
	1	Clearing and Earthwork	$4,757,500	
	2	Roadway Improvements	$2,066,900	
	3	Utilities (Water, Reuse, Sewer)	$6,310,700	
	4	Stormwater Systems	$2,079,000	
	5	Landscaping/Entrance Way	$1,351,570	
	6	Recreational Improvements	$1,210,000	
	7	Engineering, Testing, Planning, CEI	$302,500	
		Total	$18,078,170	
`	Source: Dunn and Associates, Inc.
Any costs outlined in the Engineer's Report not funded with bond proceeds will be funded via Developer's Agreement with the District

Requirements of a Valid Assessment Methodology

In PFM Financial Advisors LLC, the Assessment Consultant’s (“PFM” and/or “AC”) experience, there are two primary requirements for special assessments to be valid under Florida law. First, the properties assessed must receive a special benefit from the improvements paid for via the assessments. Second, the assessments must be fairly and reasonably allocated to the properties being assessed. If these two characteristics of valid special assessments are adhered to, Florida law provides some latitude to legislative bodies, such as the District’s Board of Supervisors, in approving special assessments. Indeed, Florida courts have found that the mathematical perfection of calculating special benefit is impossible, and, accordingly, a special assessment is valid as long as there is a logical relationship between the services provided and the benefit to real property. A court must give deference to the District’s determinations regarding the levy of special assessments, and such special assessments are only invalid if the District’s determinations are found to be arbitrary.

Special Benefits and General Benefits

Improvements undertaken by the District create both special benefits and general benefits to property owners located within and surrounding the District. However, in our opinion, the general benefits to the public at large are incidental in nature and are readily distinguishable from the special benefits which accrue to property located within the District. It is the District’s CIP that enables properties within the District’s boundaries to be developed. Without the District’s CIP there would be no infrastructure to support development of land within the District. Without these improvements, development of property in the District would not be permitted.

The new infrastructure improvements included in the CIP create both: (1) special benefits to the developable property within the District and (2) general benefits to properties outside the District. However, as discussed below, these general benefits are incidental in nature and are readily distinguishable from the special benefits which accrue to the developable property within the District. The CIP described in the District Engineer’s Report enables the developable property within the District to be developed. Without the CIP, there would be no infrastructure to support development of the developable property within the District.

Demonstration of Benefit

As shown in Table 2, the estimated cost of the CIP is $18,078,170. The District plans to issue bonds to fund its portion of these costs, with total bond principal estimated at $23,600,000 (Table 5). There are an estimated 528.53 acres within the District. Therefore, the average cost of the District’s CIP, per assessable acre, is $44,652 on an as-financed basis. As discussed in more detail below, at the time all of the properties are developed according to the land plan in Table 1, the developed properties will have absorbed all of the debt that was initially allocated on a gross acre basis.

Therefore, the proper analysis of the special benefit to the properties in the District planned for development is to compare the current value of the property to be developed to the expected future value of the property after the total CIP is installed. As demonstrated below, the installation of the infrastructure will generate benefits in excess of its $44,652 per acre cost by boosting the market value of the now undeveloped property well above the current land value (as described below) plus the cost of the infrastructure.
Table 3 demonstrates the expected special benefit to the properties from the installation of the CIP. The development plan shown in Table 1 estimates 426 residential units. Since the District comprises 528.53 gross acres, the plan is for a gross density of 0.81 units per acre.

Based on current market pricing provided by the current landowner, the estimated average market price of residential units to be developed in the District will be $550,000. On average, a finished building lot is valued at 25% of the total home and lot package. This produces an estimated finished lot value of
$137,500. The CIP has a total cost as financed of $23,600,000 for 426 units, thus the cost to produce a finished lot is $55,399. The market value of the land, as improved by the CIP, is then estimated as the difference between the value of the finished lot of $137,500 and the cost of the improvements per lot of
$55,399 resulting in a residual value for the land, as improved, of $82,101 per lot. The foregoing market value is subject to change based on the final pricing details of the District’s bond issues and the market value of the homes to be built on the properties.

According to the St. Johns County Property Appraiser, the 528.53 acres of land that comprise the District has a land value of $8,425,600. The development program produces a density of 0.81 units per acre for a total of 426 lots, so the land value per unit is $19,778.

Therefore, the District’s CIP will provide a special benefit to the District’s properties. The net increase in the market value of the lots once improved by the District’s CIP is estimated at $55,399. Therefore, the net benefit in market value of the lots after deducting the cost of the land before the improvements is
$62,323 (i.e. $82,101 - $19,778 = $62,323). This demonstrates the special benefits generated by the CIP to the properties.

Table 3. Demonstration of Special Benefit for Properties in Longleaf Pine

Category	Amount	
Acreage	528.5	
Maximum Bonds	$23,600,000	
Debt/Acre	$44,652	
Category	Amount	
Units	426	
District Acreage	528.5
========	
Units/Acre	0.81	
Average Price	$550,000	
Finished lot	$137,500	
Cost per lot	$55,399
========	
Remainder	$82,101	
Land Value-Cost*	$8,425,600	
Acres	528.53	
Cost/Acre	$15,942	
Cost/DU/Lot	$19,778	

Net Benefit	========
$62,323	
Source: PFM Financial Advisors LLC
*Based on the 2021 assessed value of all assessable District land provided by the St. Johns County Property Appraiser.

2.0	CIP Plan of Finance

The District has advised it intends to finance all or a portion of its CIP costs as detailed in Table 2 by issuing bonds. These bonds may be issued in several series, as development progresses within the District. A number of component funds comprise the total principal of the bonds to be issued by the District. These funds may include, but are not limited to, acquisition and construction, capitalized interest, a debt service reserve, underwriter’s discount, and issuance costs. The debt service reserve account is set initially at 100% of maximum annual debt service. The bond sizing includes 24 months of capitalized interest. The underwriter’s discount is estimated at 2.0% of par. This allowance pays the underwriter for taking the risks involved in purchasing the District’s bonds. The cost of issuance pays for the trustee, financial advisor, district counsel and other costs associated with issuing the District's bonds.

An estimate of the bond issuance required to fund the District’s CIP is found in Table 4. The construction/acquisition funds raised by the District's bonds may fund only a portion of the District's CIP. The balance of any remaining CIP costs will be funded by one or more District landowner(s) or by other means. As bonds are issued by the District over time, the District will adopt supplemental assessment methodology report(s) detailing the particulars of each specific bond issue with respect to bond pricing and the associated assessments for properties securing each bond issuance.

Table 4. Estimated District Bond Financing Details

Bond Fund
Construction/Acquisition Fund	Total Bonds Value
$18,078,170	
Debt Service Reserve	$1,714,514	
Capitalized Interest	$2,832,000	
Costs of Issuance	$500,000	
Underwriter’s Discount	$472,000	
Rounding	$3,316	
Maximum Bond Principal	$23,600,000	

Average Annual Interest Rate:	
6.0%	
Term (Years):	30	
Capitalized Interest (Months):	24	
Maximum Net Annual Debt Service:	$1,714,514	
Maximum Gross Annual Debt Service (1):	$1,843,564	
Source: PFM Financial Advisors LLC
(1) Gross assessments represent the assessment placed on the County tax roll each year, if the District elects to use the Uniform Method of collecting non-ad valorem assessments authorized by Chapter 197 of the Florida Statutes. Gross assessments include a 7.0% gross-up to account for the fees of the County Property Appraiser and Tax Collector and the statutory early payment discount.

Assessment Methodology

Assessment Foundation

The assessment methodology associated with the allocation of the costs of the CIP is a four-step process. First, the District Engineer determines the costs for the District’s infrastructure and related improvements. Second, an estimate of the amount of bonds required to finance the infrastructure improvements is calculated. Third, the District Engineer outlines which parcels benefit from the provision of the infrastructure and improvements. Finally, the as-financed costs of the infrastructure and related improvements are allocated to the benefiting properties based on the approximate relative benefit each unit receives.

Allocation of Specific Assessments

The discussion offered below illustrates the process by which the District will allocate bond debt it incurs to fund its CIP. The District’s maximum $23,600,000 of total bond debt is detailed in Table 5. The District’s bond debt will be secured primarily by special assessments allocated to properties in the District based on and proportional to the benefits that each property receives from the CIP. As described above, until such time as either: (a) properties are sold along with their entitlements or (b) plats are recorded; the specific land uses in the District are not known with certainty. Therefore, at the outset, the debt is allocated on an acreage basis across all benefited acres in the District totaling approximately 528.53 acres. As the sale and platting process unfolds, the District will more finely articulate the allocation of debt to benefiting properties based on their land uses.

As noted above, as long as two basic principles are adhered to, Florida law generally allows the District Board some latitude in determining the appropriate methodology to allocate the costs of its CIP to benefiting properties in the District. The two principles are: (1) the properties being assessed must receive a special benefit from the CIP and (2) the assessments allocated to each property must be fairly and reasonably apportioned among the benefiting properties.

In allocating special assessments to benefiting property, Florida governments have used a variety of methods including, but not limited to, front footage, area, trip rates, equivalent residential units (“ERU”), dwelling units, and acreage. These ERU values equate the benefit received by a stated amount of such particular land use category to the benefit received by a typical single-family residence. The use of ERU values to estimate the benefit derived from infrastructure improvements is recognized as a simple, fair, and reasonable method for apportioning benefit. The Florida Supreme Court concluded that the ERU method was a valid methodology in its decision in Winter Springs v. State.3 In addition, the ERU methodology is widely used in other similar CDDs. Note that the current development plan includes two lot sizes; however, any additional lot size(s) will be assessed via benefits based on its lot width (front feet) consistent with the Methodology.

Table 5 contains the allocation of the District’s CIP costs, as financed, to the Development Units planned for the District based on the ERU value assigned to each Development Unit. Table 6 shows the annual bond debt service assessments associated with the bond par allocations found in Table 5. Table 6 becomes important as the land within the District is platted, as specific bond debt service assessments will be assigned to the individual Development Units at that time.

Table 5. Allocation of the Costs of the District’s CIP, as Financed

Land Use	Volume	ERU/Unit	ERUs	%ERU	Total Debt	Debt/Unit	
SF 50' Lot	58	1.00	58.0	13%	$2,957,649	$50,994	
SF 60' Lot	368	1.10	404.8	87%	$20,642,351	$56,093	

Total	=========
426		=========
462.8	====
100%	=========
$23,600,000		
Source: PFM Financial Advisors LLC

3 City of Winter Springs v. State, 776 So.2d 255 (Fla 2003)

Table 6. Summary of Annual Assessments

Land Use	
Debt/Unit	Annual Assessment
per Unit	Administrative Costs per Unit	Total Annual Assessment per Unit (1)	
SF 50' Lot	$50,994	$3,705	$279	$3,983	
SF 60' Lot	$56,093	$4,075	$307	$4,382	
Source: PFM Financial Advisors LLC
Gross assessments represent the assessment placed on the County tax roll each year, if the District elects to use the Uniform Method of collecting non-ad valorem assessments authorized by Chapter 197 of the Florida Statutes. Gross assessments include a 7.0% gross-up to account for the fees of the County Property Appraiser and Tax Collector and the statutory early payment discount.

True-Up Mechanism

Although the District does not process plats, it does have an important role to play during the course of development. Whenever a parcel’s land use and development density and intensity is determined with sufficient certainty, the District must allocate a portion of its debt to the parcel according to the procedures outlined in Section 3.2 above. In addition, the District must also prevent any buildup of debt on land that has not yet been developed. Otherwise, the land could be fully subdivided without all of the debt being allocated.

To preclude this, a test is conducted when development thresholds are reached within the District. As long as the development at these thresholds does not cause the debt on the remaining land to increase above a debt ceiling level illustrated in Table 8 below, then no further action in necessary. However, if the debt on the remaining land does increase, a debt reduction payment will be necessary.

The debt ceiling level is established at the time each series of bonds is issued. For example, the District may issue up to $23,600,000 in Bonds to fund the CIP. According to the Engineer’s Report, there are approximately 528.53 gross acres of land within the District. Each of these acres will be assigned an equal assessment of the $23,600,000 in remaining unassigned bond debt assessments. Therefore, and assuming for purposes of this illustration that all $23,600,000 in anticipated bond debt is issued by the District to fund its CIP, the ceiling level of debt for developable and assessable properties would be
$44,652 per acre ($23,600,000 / 528.53). This ceiling level is based upon the best information available at the time of this report, is subject to change, and will only be finalized at the time of the District’s first bond issuance.

A test will be conducted when 25%, 50%, 75%, and 90% of the acreage within the District has been developed. The ceiling amount of debt is determined at the time any District bond issuance is closed. The debt ceiling level is the ratio of the amount of debt outstanding divided by the number of acres of land for which no debt allocation has occurred as per this methodology. Table 7 below illustrates when the true-up test will be applied to determine if debt reduction payments are required. However, a true-up payment may be suspended at the District’s discretion. If the property owner can demonstrate to the District, and the District finds in its discretion (consistent with the opinion of the District Engineer), that all necessary land use approvals, including applicable zoning, can reasonably and economically support development totaling greater than or equal to 426 residential units, on the remaining unplatted developable acreage within the remaining acres, a true-up payment may be suspended.

Table 7. True- Up Thresholds

Category	25%	50%	75%	90%	100%	
Platted Developable Acres	132.1	264.3	396.4	475.7	528.5	
Unplatted Developable Acres	396.4	264.3	132.1	52.9	-	
Debt Ceiling per Acre	$44,652	$44,652	$44,652	$44,652	$44,652	

In the event that additional land not currently subject to the assessments required to repay the debt associated with the CIP is developed in such a manner as to receive special benefit from the CIP, it is contemplated that this Methodology will be re-applied to include such new parcels. The additional land, as a result of applying this Methodology, will be allocated an appropriate share of the special assessments, with all previously-assessed parcels receiving a relative adjustment in their assessment levels.

4.0	Contribution of District Infrastructure and/or Improvements

The costs of the District’s CIP will likely be funded by two mechanisms. The first mechanism is the issuance of special assessment bonds. The second mechanism is the contribution of funds or CIP components to the District (“Contribution”). Property owners within the District will have the opportunity to make such a Contribution upon approval by the District.

A District property owner’s Contribution will give rise to assessment credits that can be applied by the property owner to reduce or eliminate bond debt service assessments that would otherwise be assigned to lands within the District to fund the costs of the CIP. Prior to a property owner reducing or eliminating bond debt service assessments through a Contribution, it must be shown that the improvements funded or contributed by the property owner are a component of the CIP, as outlined in the Engineer’s Report. The property owner will be permitted to apply assessment credits equal to the value of the Contribution plus the costs of financing the improvement(s) that would otherwise have been incurred by the District if the District were required to issue bonds to fund or acquire the improvement(s) (such that the property would not be responsible for bond financing costs if the Contribution was made prior to the District’s issuance of special assessment bonds). A property owner possessing assessment credits due to a Contribution will, in the District’s discretion, have the opportunity to use the assessment credits to adjust bond debt service assessment levels of Development Units.

5.0	Assessment Roll

Table 8 outlines the maximum bond principal assessment per assessable acre for the lands within the District. A description of the land within the District, which will be assessed to secure the repayment of the District’s bonds, is found in Exhibit “A”, below. The assessments shall be paid in not more than thirty
(30) annual installments.

Table 8. Assessment Roll

Parcel ID Numbers
Exhibit "A" - Legal Description	
Assessable Acreage

528.53	
Bond Principal Assessment

$23,600,000	Bond Principal Assessment per
Acre

$44,652	Net Total Bond Annual Assessment

$1,714,514	Net Annual Assessment
per Acre

$3,244	Bond Gross
Annual Assessment (1)

$1,843,564	Bond Gross Annual Assessment per
Acre (1)

$3,488	
Source: PFM Financial Advisors LLC
(1) Gross assessments represent the assessment placed on the County tax roll each year, if the District elects to use the Uniform Method of collecting non-ad valorem assessments authorized by Chapter 197 of the Florida Statutes. Gross assessments include a 7.0% gross-up to account for the fees of the County Property Appraiser and Tax Collector and the statutory early payment discount.

EXHIBIT “A”
LEGAL DESCRIPTION OF LAND LOCATED WITHIN THE DISTRICT*
*Source: Petition to Establish Longleaf Pine CDD

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

EXHIBIT 2

PARCEL LEGAL DESCRIPTIONS

May 25, 2021

LONGLEAF PINE COMMUNITY DEVELOPMENT DISTRICT

                                   EXHIBIT 2A

PARCEL LEGAL DESCRIPTIONS

May 25, 2021