TERRENO COMMUNITY DEVELOPMENT
DISTRICT

COLLIER COUNTY REGULAR BOARD MEETING MARCH 13, 2023
9:00 A.M.

Special District Services, Inc.
27499 Riverview Center Boulevard, #253 Bonita Springs, FL 33134

www.terrenocdd.org 561.630.4922 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA TERRENO
COMMUNITY DEVELOPMENT DISTRICT
Golf Club of the Everglades 8835 Vanderbilt Beach Road Naples, Florida 34120
REGULAR BOARD MEETING
March 13, 2023
9:00 A.M.

Call to Order
Proof of Publication…	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
February 13, 2022 Regular Board Meeting…	Page 2
Old Business
New Business
Consider Resolution No. 2023-05 – Ratifying Sale of Bonds…	Page 6
Consider Approval of Master Disclosure of Public Financing…	Page 8
Consider Approval of Supplemental Disclosure of Public Financing…	Page 29
Consider Approval of Interlocal Agreement for Preparation and Submission of District
Non-Ad Valorem Assessment Roll and the Related Uniform Collection and Enforcement. Page 50
Consider Resolution No. 2023-06 – Adopting a Fiscal Year 2023/2024 Proposed Budget.	Page 57
Administrative Matters
Board Members Comments
Adjourn

Miscellaneous Notices
Published in Naples Daily News on March 3, 2023

Location
Collier County, Florida
Notice Text	
	TERRENO COMMUNITY DEVELOPMENT DISTRICT NOTICE OF REGULAR
BOARD OF SUPERVISORS' MEETING The Board of Supervisors ("Board") for the Terreno Community Development District ("District") will hold a Regular Board Meeting ("Meeting") on March 13, 2023, at 9:00 a.m. at the Golf Club of the Everglades located at 8835 Vanderbilt Beach Road, Naples, Florida 34120 for the purpose of considering any business that may properly come before it. A copy of the agenda may be obtained at the offices of the District Manager located at 2501A Burns Road, Palm Beach Gardens, Florida 33410, Ph: (561) 630-4922 ("District Manager's Office"), during normal business hours. The Meeting is open to the public and will be conducted in accordance with the provisions of Florida law. The Meeting may be continued to a date, time, and place to be specified on the record at the Meeting. There may be occasions when Board Supervisors or District staff may participate by speaker telephone. Any person requiring special accommodations at this Meeting because of a disability or physical impairment should contact the District Manager's Office at least forty-eight (48) hours prior to the Meeting. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) / 1-800-955-8770 (Voice), for aid in contacting the District Manager's Office. Each person who decides to appeal any decision made by the Board with respect to any matter considered at the Meeting is advised that person will need a record of proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based.
Michelle Krizen District Manager TERRENO COMMUNITY	
	DEVELOPMENT DISTRICT	www.terrenocdd.org	March 3, 2023 #5608256	

TERRENO COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
FEBRUARY 13, 2023

CALL TO ORDER

The February 13, 2023, Regular Board Meeting of the Terreno Community Development District (the “District”) was called to order at 9:05 a.m. at the Golf Club of the Everglades located at 8835 Vanderbilt Beach Road, Naples, Florida 34120.

PROOF OF PUBLICATION

Proof of publication was presented which showed that notice of the Regular Board Meeting had been published in the Naples Daily News on February 3, 2023, as legally required.

ESTABLISH A QUORUM

A quorum was established with the following Supervisors in attendance:

Chairman Scott Brooks, Vice Chairperson Laura Ray and Supervisors Naomi Robertson, Patrick Butler and Michael Hueniken who arrived at 9:14 a.m.

Also in attendance were Michelle Krizen of Special District Services, Inc.; Attorney Alyssa Willson of Kutak Rock (via phone); Engineer Josh Evans of J.R. Evans Engineering, P.A. (via phone); Kate John of Kutak Rock (via phone); and Andrew Karmeris of Special District Services, Inc.(via phone).

ADDITIONS OR DELETIONS TO AGENDA

There were no additions or deletions to the agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

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

APPROVAL OF MINUTES
December 12, 2022, Regular Board Meeting

The December 12, 2022, Regular Board Meeting minutes were presented for consideration.

A motion was made by Ms. Ray, seconded by Mr. Brooks and passed unanimously approving the December 123, 2022, Regular Board Meeting minutes, as presented.

OLD BUSINESS

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

NEW BUSINESS

Consider Supplemental Assessment Methodology Report

Mr. Karmeris went over the report, noting that this would be a two bond series and the PAR amount is
$8,060,000. Table F shows the maximum annual debt per product type. Mr. Karmeris confirmed the debt was the same as described in the methodology.

Consider Resolution No. 2023-01 – Supplemental Assessment Resolution

Resolution No. 2023-01 was presented, entitled:

RESOLUTION 2023-01

A RESOLUTION SETTING FORTH THE SPECIFIC TERMS OF THE TERRENO	COMMUNITY	 DEVELOPMENT		DISTRICT	SPECIAL ASSESSMENT BONDS, SERIES 2023; CONFIRMING THE DISTRICT’S PROVISION OF THE SERIES 2023 PROJECT AND ADOPTING AN ENGINEER’S	REPORT;	CONFIRMING	AND	ADOPTING	A SUPPLEMENTAL	ASSESSMENT	REPORT;		CONFIRMING, ALLOCATING AND AUTHORIZING THE COLLECTION OF SPECIAL ASSESSMENTS SECURING SERIES 2023 BONDS; PROVIDING FOR THE APPLICATION OF TRUE-UP PAYMENTS; PROVIDING FOR THE SUPPLEMENT TO THE IMPROVEMENT LIEN BOOK; PROVIDING FOR THE RECORDING OF A NOTICE OF SERIES 2023 SPECIAL ASSESSMENTS; PROVIDING FOR CONFLICTS, SEVERABILITY AND AN EFFECTIVE DATE.

A motion was made by Mr. Brooks, seconded by Ms. Ray and passed unanimously adopting Resolution No. 2023-01, as presented.

Consider Amended and Restated Acquisition Agreement

Ms. Willson explain the purpose of the agreement was to preserve the ability to be repaid from conveyances. “Phase 1” has been amended to read “2023 project” to avoid confusion.

A motion was made by Mr. Brooks, seconded by Ms. Ray and passed unanimously approving the Amended and Restated Acquisition Agreement, as presented.

Consider Resolution No. 2023-02 – Adopting a Record Retention Policy Option 2

Resolution No. 2023-02 was presented, entitled:

RESOLUTION 2023-02

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TERRENO COMMUNITY DEVELOPMENT DISTRICT PROVIDING FOR THE APPOINTMENT OF A RECORDS MANAGEMENT LIAISON OFFICER; PROVIDING THE DUTIES OF THE RECORDS MANAGEMENT LIAISON OFFICER; ADOPTING A RECORDS RETENTION POLICY; DETERMINING

THE ELECTRONIC RECORD TO BE THE OFFICIAL RECORD; AND PROVIDING FOR SEVERABILITY AND AN EFFECTIVE DATE.

Ms. Willson noted there were two options to update this policy. The Board discussed Option 2, which would direct the District on how to retain records and how and when items can be disposed.

A motion was made by Ms. Ray, seconded by Mr. Brooks and passed unanimously adopting Resolution No. 2023-02, Option 2, as presented.

Consider Resolution No. 2023-03 – Electing Officers

Resolution No. 2023-03 was presented, entitled:

RESOLUTION 2023-03

A	RESOLUTION	ELECTING	THE	OFFICERS	OF	THE	TERRENO COMMUNITY DEVELOPMENT DISTRICT, COLLIER COUNTY, FLORIDA.

A motion was made by Ms. Ray, seconded by Mr. Hueniken and passed unanimously electing the below slate of officers of the District:

CH: Scott Brooks VC: Laura Ray
AS: Naomi Robertson AS: Patrick Butler
AS: Michael Hueniken Treasurer/Secretary: Michelle Krizen

Consider Resolution No. 2023-04 – Authorizing Electronic Approvals and Check Signers

Resolution No. 2023-04 was presented, entitled:

RESOLUTION NO. 2023-04

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

Since there was an update to the Treasurer, this resolution allows for an update to those authorized to sign checks and will include Todd Wodraska, Jason Pierman, Patricia LasCasas, Michelle Krizen and Scott Brooks.

A motion was made by Ms. Ray, seconded by Mr. Hueniken and passed unanimously adopting Resolution No. 2023-04, as presented.

Consider Property Appraiser Agreement

Consider Tax Collection Agreement

Both #7 & #8 were discussed. We are still awaiting Collier County to provide these items.

ADMINISTRATIVE MATTERS

The Disclosure of Public Financing and the proposed budget will be presented at the March 13, 2023, meeting.

BOARD MEMBER COMMENTS

There were no further comments from the Board Members.

ADJOURNMENT

There being no further business to come before the Board, a motion was made by Ms. Ray, seconded by Mr. Hueniken and passed unanimously adjourning the meeting at 9:27 a.m.

ATTESTED BY:

Secretary/Assistant Secretary	Chairperson/Vice-Chair

RESOLUTION 2023-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TERRENO COMMUNITY DEVELOPMENT DISTRICT RATIFYING, CONFIRMING, AND APPROVING THE SALE OF THE TERRENO COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BONDS, SERIES 2023 (2023 PROJECT); RATIFYING, CONFIRMING, AND APPROVING THE ACTIONS OF THE CHAIRMAN, VICE CHAIRMAN, TREASURER, SECRETARY, ASSISTANT SECRETARIES, AND ALL DISTRICT STAFF REGARDING THE SALE AND CLOSING OF THE TERRENO COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BONDS, SERIES 2023 (2023 PROJECT); DETERMINING SUCH ACTIONS AS BEING IN ACCORDANCE WITH THE AUTHORIZATION GRANTED BY THE BOARD; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Terreno Community Development District (“District”), is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes; and

WHEREAS, the District previously adopted resolutions authorizing the issuance and the negotiated sale of bonds within the scope of Chapter 190, Florida Statutes, including its Special Assessment Bonds, Series 2023 (2023 Project), in the par amount of $8,060,000 (“Series 2023 Bonds”); and

WHEREAS, the District closed on the sale of the Series 2023 Bonds on February 15, 2023; and

WHEREAS, as prerequisites to the issuance of the Series 2023 Bonds, the Chairman, Vice Chairman, Treasurer, Assistant Secretaries, and District Staff including the District Manager, District Financial Advisor, and District Counsel were required to execute and deliver various documents (“Closing Documents”); and

WHEREAS, the District desires to ratify, confirm, and approve all actions of the District Chairman, Vice Chairman, Treasurer, Assistant Secretaries, and District Staff in connection with closing the sale of the Series 2023 Bonds.

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

SECTION 1. The sale, issuance, and closing of the Series 2023 Bonds is in the best interests of the District.

SECTION 2. The issuance and sale of the Series 2023 Bonds, the adoption of resolutions relating to such bonds, the agreements entered into with respect to the issuance of such bonds, and

all actions taken in the furtherance of the closing on such bonds, are hereby declared and affirmed as being in the best interests of the District and are hereby ratified, approved, and confirmed.

SECTION 3. The actions of the Chairman, Vice Chairman, Treasurer, Secretary, Assistant Secretaries, and all District Staff in finalizing the closing and issuance of the Series 2023 Bonds, including the execution and delivery of the Closing Documents, and such other certifications or other documents required for the closing on the Series 2023 Bonds, are determined to be in accordance with the prior authorizations of the Board and are hereby ratified, approved, and confirmed in all respects.

SECTION 4. If any provision of this Resolution is held to be illegal or invalid, the other provisions shall remain in full force and effect.

SECTION 5. This Resolution shall become effective upon its passage and shall remain in effect unless rescinded or repealed.

PASSED AND ADOPTED this 13th day of March 2023.

ATTEST:	TERRENO COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary	Chairperson, Board of Supervisors

Upon recording, this instrument should be returned to:

(This space reserved for Clerk)

Terreno Community Development District c/o Special District Services, Inc.
2501A Burns Road
Palm Beach Gardens, Florida 33410

MASTER DISCLOSURE OF PUBLIC FINANCING AND MAINTENANCE OF IMPROVEMENTS TO REAL PROPERTY UNDERTAKEN BY
THE TERRENO COMMUNITY DEVELOPMENT DISTRICT

Board of Supervisors1

Terreno Community Development District

Scott Brooks Chairperson

Laura Ray Vice Chairperson

Michael Hueniken Assistant Secretary

Naomi Robertson Assistant Secretary

Patrick Butler Assistant Secretary

Special District Services, Inc.
District Manager 2501A Burns Road
Palm Beach Gardens, Florida 33410
(561) 630-4922

District records are on file at the offices of Special District Services, Inc., at 2501A Burns Road, Palm Beach Gardens, Florida 33410, and are available for public inspection upon request during normal business hours.

TABLE OF CONTENTS
Introduction	3
1

What is the District and how is it governed?	4
What infrastructure improvements does the District provide
and how are the improvements paid for?	5
Assessments, Fees and Charges	6
Method of Collection	7

2

TERRENO
COMMUNITY DEVELOPMENT DISTRICT INTRODUCTION
The Terreno Community Development District (“District”) is a local unit of special- purpose government created pursuant to and existing under the provisions of Chapter 190, Florida Statutes. Under Florida law, community development districts are required to take affirmative steps to provide for the full disclosure of information relating to the public financing and maintenance of improvements to real property undertaken by such districts. Unlike city and county governments, the District has only certain limited powers and responsibilities. These powers and responsibilities include, for example, construction and/or acquisition, as well as maintenance of roadways, utilities, earthwork, stormwater management, landscape, irrigation, entry features, street lighting, underground electric, conservation and mitigation, an amenity facility, and other related public infrastructure.

3

DISCLOSURE OF PUBLIC FINANCING AND MAINTENANCE OF IMPROVEMENTS TO REAL PROPERTY UNDERTAKEN BY THE TERRENO COMMUNITY DEVELOPMENT DISTRICT

Under Florida law, community development districts are required to take affirmative steps to provide for the full disclosure of information relating to the public financing and maintenance of improvements to real property undertaken by such districts. The law specifically provides that this information shall be made available to all persons currently residing within the District and to all prospective District residents. The following information describing the Terreno Community Development District and the assessments, fees and charges that may be levied within the District to pay for certain community infrastructure is provided to fulfill this statutory requirement.

What is the District and how is it governed?

The District is an independent, special taxing district, created pursuant to and existing under the provisions of Chapter 190, Florida Statutes (the “Act”), and established by Ordinance No. 2022-22, enacted by the Board of County Commissioners of Collier County, Florida, which was effective on June 17, 2022. The District encompasses approximately 325.767 acres of land located entirely within the boundaries of Collier County, Florida. As a local unit of special- purpose government, the District provides an alternative means for planning, financing, constructing, operating and maintaining various public improvements and community facilities within its jurisdiction.

The District is governed by a five-member Board of Supervisors, the members of which must be residents of the State and citizens of the United States. Within ninety (90) days of appointment of the initial board, members were elected on an at-large basis by the owners of property within the District, each landowner being entitled to one vote for each acre of land with fractions thereof rounded upward to the nearest whole number. Elections are then held every two years in November. Commencing when both six years after the initial appointment of Supervisors have passed and the District has attained a minimum of two hundred and fifty (250) qualified electors, Supervisors whose terms are expiring will begin to be elected by qualified electors of the District. A “qualified elector” in this instance is any person at least eighteen (18) years of age who is a citizen of the United States, a legal resident of Florida and of the District, and who is also registered with the Supervisor of Elections to vote in Collier County. Notwithstanding the foregoing, if at any time the Board proposes to exercise its ad valorem taxing power, it shall, prior to the exercise of such power, call an election at which all members of the Board shall be elected by qualified electors of the District.

Board meetings are noticed in a local newspaper and conducted in a public forum in which public participation is permitted. Consistent with Florida’s public records laws, the records of the District are available for public inspection during normal business hours. Elected members of the Board are similarly bound by the State’s open meetings law and are generally subject to the same disclosure requirements as other elected officials under the State’s ethics laws.

4

What infrastructure improvements does the District provide and how are the improvements paid for?

The District is comprised of approximately 325.767 acres, and located entirely within Collier County, Florida. The legal description of the lands encompassed within the District is attached hereto as Exhibit “A”. The public infrastructure necessary to support the District’s development program includes, but is not limited to, stormwater management and control systems, including but not limited to related earthwork, water and wastewater facilities, public roadway improvements related to the stormwater facilities, conservation and mitigation areas. These infrastructure improvements are more fully detailed below. To plan the infrastructure improvements necessary for the District, the District adopted the Master Engineer’s Report, dated July 11, 2022, (the “Engineer’s Report”), which details all of the improvements currently contemplated for the completion of the infrastructure of the District (the “Capital Improvement Plan”). Copies of the Engineer’s Report are available for review in the District’s public records. The improvements, funding and maintenance of the Capital Improvement Plan is described in Table 2 of the Engineer’s Report and is listed below:

These public infrastructure improvements have been and will be funded by the District’s sale of bonds. On October 11, 2022, the Twentieth Judicial Circuit Court of the State of Florida, in and for Collier County, Florida, entered a Final Judgment validating the District’s ability to issue an aggregate principal amount not to exceed $25,000,000 in Special Assessment Bonds for infrastructure needs of the District.

STORMWATER MANAGEMENT

The approved conceptual development plan for the Terreno project provides for approximately 51 acres of stormwater management lakes that are located within the District. These lakes are to provide for both water quality treatment and water attenuation for the proposed 685 single family units, all associated roadways, common areas, and the amenity center.

The District’s stormwater management system will convey runoff from the individual residential lots via a system of gutters, inlets and piping into the lakes for treatment purposes. The lakes within the District are designed with large pipe interconnects that allows for the cross
5

conveyance of the stormwater runoff from lake to lake and ultimately into the adjacent wetland slough system.

To ensure compliance with the South Florida Water Management District regulatory requirements, control structures have been or will be installed on the outfall pipes leaving the lakes and regulate the individual lake levels. The overall project designs provide for a regulated outfall point from the onsite stormwater treatment network into the natural wetland slough system that expands through the center of the development.

Construction of the District’s stormwater remaining improvements is proposed to occur through 2026 and has been constructed in three (3) separate phases. Generally, descriptions of the stormwater infrastructure for each phase of District are as follows:
Phase I - Construction of approximately 17 acres of lakes, 28,694 feet of gutters, 10,399 feet of pipe culverts, and related berms and canals.

Phase II - Construction of approximately 7 acres of lakes, 16,565 feet of gutters, 5,617 feet of pipe culverts, and related berms and canals.

Phase III - Construction of approximately 27 acres of lakes, 17,079 feet of gutters, 6,253 feet of pipe culverts, and related berms and canals.

The District’s stormwater system was designed, permitted, and will be constructed based on the following design events:

Roads and Basins - 25 year - 3-day storm event.

Buildings and Residences - 100 year - 3-day storm event.

POTABLE WATER AND SANITARY SEWER

The Project is located within the Collier County Water and Sewer service area, and availability of service has been confirmed. The Project will connect to a 12” water main along the north side of Oil Well Road which will provide service of potable water is available for domestic use, fire protection, and irrigation. Wastewater flows within the project will be collected and transmitted via gravity sewers to two (2) lift stations. The force main leaving both lift stations will connect to an 8” force main which runs through the entire project connecting to the existing 12” force main along the north side of Oil Well Road.

Construction of the District’s potable water and sanitary sewer infrastructure remaining improvements is also proposed to occur through 2026 and has or will be constructed in three (3) separate phases. Generally, descriptions of the potable water and sanitary sewer infrastructure for each phase of District are as follows:

Phase I - Construction of approximately 9,587 feet of gravity sewer, 4,167 feet of sewer force main, 8,920 feet of potable water mains, and 2 sewer pump stations.

6

Phase II - Construction of approximately 7,162 feet of gravity sewer, 744 feet of sewer force main, and 8,614 feet of potable water mains.

Phase III - Construction of approximately 7,539 feet of gravity sewer and 8,920 feet of potable water mains.

Assessments, Fees and Charges

The costs of acquisition or construction of a portion of these infrastructure improvements may be financed by the District through the sale of special assessment bonds. The annual debt service payments, including interest due thereon, are payable solely from and secured by the levy of non-ad valorem or special assessments against lands within the District which benefit from the construction, acquisition, establishment and operation of the District’s improvements. The annual debt service obligations of the District which must be defrayed by annual assessments upon each parcel of land or platted lot will depend upon the type of property purchased. Information regarding the maximum annual assessment levels for such bonds may be found in supplements to this Master Disclosure of Public Financing and Maintenance of Improvements to Real Property Undertaken by the Terreno Community Development District as recorded over the property subject to the special assessment bonds and special assessments. Interested persons are encouraged to contact the District Manager for information regarding special assessments on a particular lot or parcel of lands. A copy of the District’s assessment methodology and assessment roll are available for review in the District’s public records.

The District may undertake the construction, acquisition, or installation of other future improvements and facilities, which may be financed by bonds, notes, or other methods authorized by Chapter 190, Florida Statutes. More information can be obtained from the Capital Improvement Plan on file with the District.

In addition to the special assessments described above, the District’s Board of Supervisors may annually determine and calculate operations and maintenance assessments against all benefited lands in the District. These assessments may also be collected in the same manner as county ad valorem taxes.

Method of Collection

The District’s special and/or operation and maintenance assessments may appear on that portion of the annual real estate tax notice entitled “non-ad valorem assessments,” and will be collected by the Collier County Tax Collector in the same manner as county ad valorem taxes. Each property owner must pay both ad valorem and non-ad valorem assessments at the same time. Property owners will, however, be entitled to the same discounts as provided for ad valorem taxes. As with any tax notice, if all taxes and assessments due are not paid within the prescribed time limit, the tax collector is required to sell tax certificates which, if not timely redeemed, may result in the loss of title to the property. The District may also elect to collect the assessment directly.

7

This description of the Terreno Community Development District’s operation, services and financing structure is intended to provide assistance to landowners and purchasers concerning the important role that the District plays in providing infrastructure improvements essential to the use and development of this community. If you have any questions or would simply like additional information about the District, please write to or call the: District Manager, Terreno Community Development District, 2501A Burns Road, Palm Beach Gardens, Florida 33410, (561) 630-4922.

The information provided herein is a good faith effort to accurately and fully disclose information regarding the public financing and maintenance of improvements to real property undertaken by the District and should only be relied upon as such. The information contained herein is, and can only be, a status summary of the District’s public financing and maintenance activities and is subject to supplementation and clarification from the actual documents and other sources from which this information is derived. In addition, the information contained herein may be subject to change over time, in the due course of the District’s activities and in accordance with Florida law. Prospective and current residents and other members of the public should seek confirmation and/or additional information from the District Manager’s office with regard to any questions or points of interest raised by the information presented herein.

8

IN WITNESS WHEREOF, this Disclosure of Public Financing and Maintenance of Improvements to Real Property Undertaken has been executed as of the 13th day of March 2023, and recorded in the Official Records of Collier County, Florida.

WITNESSES:	TERRENO COMMUNITY DEVELOPMENT DISTRICT

Scott Brooks
[Print Name]	Chairperson, Board of Supervisors

[Print Name]

STATE OF FLORIDA
COUNTY OF 	

The foregoing instrument was acknowledged before me by means of ▢ physical presence or ▢ online notarization this 13th day of March 2023, by Scott Brooks as Chairperson of the Board of Supervisors of the Terreno Community Development District.

(Official Notary Signature & Seal)
Name: 	 Personally Known 	 OR Produced Identification 	 Type of Identification 	

9

EXHIBIT A

10

11

12

13

14

15

16

17

18

19

20

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Upon recording, this instrument should be returned to:

(This space reserved for Clerk)

Terreno Community Development District c/o Special District Services, Inc.
2501A Burns Road
Palm Beach Gardens, Florida 33410

FIRST SUPPLEMENTAL DISCLOSURE OF PUBLIC FINANCING AND MAINTENANCE OF IMPROVEMENTS TO REAL PROPERTY UNDERTAKEN BY THE TERRENO COMMUNITY DEVELOPMENT DISTRICT

Board of Supervisors1

Terreno Community Development District

Scott Brooks Chairperson

Laura Ray Vice Chairperson

Michael Hueniken Assistant Secretary

Naomi Robertson Assistant Secretary

Patrick Butler Assistant Secretary

Special District Services, Inc.
District Manager 2501A Burns Road
Palm Beach Gardens, Florida 33410
(561) 630-4922

District records are on file at the offices of Special District Services, Inc., at 2501A Burns Road, Palm Beach Gardens, Florida 33410, and are available for public inspection upon request during normal business hours.

TABLE OF CONTENTS
Introduction	3
1

What is the District and how is it governed?	4
What infrastructure improvements does the District provide
and how are the improvements paid for?	5
Assessments, Fees and Charges	7
Method of Collection	7

2

TERRENO
COMMUNITY DEVELOPMENT DISTRICT INTRODUCTION
The Terreno Community Development District (“District”) is a local unit of special- purpose government created pursuant to and existing under the provisions of Chapter 190, Florida Statutes. Under Florida law, community development districts are required to take affirmative steps to provide for the full disclosure of information relating to the public financing and maintenance of improvements to real property undertaken by such districts. Unlike city and county governments, the District has only certain limited powers and responsibilities. These powers and responsibilities include, for example, construction and/or acquisition, as well as maintenance of roadways, utilities, earthwork, stormwater management, landscape, irrigation, entry features, street lighting, underground electric, conservation and mitigation, an amenity facility, and other related public infrastructure.

3

DISCLOSURE OF PUBLIC FINANCING AND MAINTENANCE OF IMPROVEMENTS TO REAL PROPERTY UNDERTAKEN BY THE TERRENO COMMUNITY DEVELOPMENT DISTRICT

Under Florida law, community development districts are required to take affirmative steps to provide for the full disclosure of information relating to the public financing and maintenance of improvements to real property undertaken by such districts. The law specifically provides that this information shall be made available to all persons currently residing within the District and to all prospective District residents. The following information describing the Terreno Community Development District and the assessments, fees and charges that may be levied within the District to pay for certain community infrastructure is provided to fulfill this statutory requirement.

What is the District and how is it governed?

The District is an independent, special taxing district, created pursuant to and existing under the provisions of Chapter 190, Florida Statutes (the “Act”), and established by Ordinance No. 2022-22, enacted by the Board of County Commissioners of Collier County, Florida, which was effective on June 17, 2022. The District encompasses approximately 325.767 acres of land located entirely within the boundaries of Collier County, Florida. As a local unit of special- purpose government, the District provides an alternative means for planning, financing, constructing, operating and maintaining various public improvements and community facilities within its jurisdiction.

The District is governed by a five-member Board of Supervisors, the members of which must be residents of the State and citizens of the United States. Within ninety (90) days of appointment of the initial board, members were elected on an at-large basis by the owners of property within the District, each landowner being entitled to one vote for each acre of land with fractions thereof rounded upward to the nearest whole number. Elections are then held every two years in November. Commencing when both six years after the initial appointment of Supervisors have passed and the District has attained a minimum of two hundred and fifty (250) qualified electors, Supervisors whose terms are expiring will begin to be elected by qualified electors of the District. A “qualified elector” in this instance is any person at least eighteen (18) years of age who is a citizen of the United States, a legal resident of Florida and of the District, and who is also registered with the Supervisor of Elections to vote in Collier County. Notwithstanding the foregoing, if at any time the Board proposes to exercise its ad valorem taxing power, it shall, prior to the exercise of such power, call an election at which all members of the Board shall be elected by qualified electors of the District.

Board meetings are noticed in a local newspaper and conducted in a public forum in which public participation is permitted. Consistent with Florida’s public records laws, the records of the District are available for public inspection during normal business hours. Elected members of the Board are similarly bound by the State’s open meetings law and are generally subject to the same disclosure requirements as other elected officials under the State’s ethics laws.

4

What infrastructure improvements does the District provide and how are the improvements paid for?

The District is comprised of approximately 325.767 acres, and located entirely within Collier County, Florida. The legal description of the lands encompassed within the District is attached hereto as Exhibit “A”. The public infrastructure necessary to support the District’s development program includes, but is not limited to, stormwater management and control systems, including but not limited to related earthwork, water and wastewater facilities, public roadway improvements related to the stormwater facilities, conservation and mitigation areas. These infrastructure improvements are more fully detailed below. To plan the infrastructure improvements necessary for the District, the District adopted the Master Engineer’s Report, dated July 11, 2022, (the “Engineer’s Report”), which details all of the improvements currently contemplated for the completion of the infrastructure of the District (the “Capital Improvement Plan”). Copies of the Engineer’s Report are available for review in the District’s public records. The improvements, funding and maintenance of the Capital Improvement Plan is described in Table 2 of the Engineer’s Report and is listed below:

These public infrastructure improvements have been and will be funded by the District’s sale of bonds. On October 11, 2022, the Twentieth Judicial Circuit Court of the State of Florida, in and for Collier County, Florida, entered a Final Judgment validating the District’s ability to issue an aggregate principal amount not to exceed $25,000,000 in Special Assessment Bonds for infrastructure needs of the District.

On February 15, 2023, the District issued $8,060,000 Terreno Community Development District Special Assessment Bonds, Series 2023 (2023 Project) (the “Series 2023 Bonds”) for the purpose of: (1) financing a portion of the costs association with the acquisition, construction, installation and equipping the Series 2023 Project, a portion of the Capital Improvement Plan as described in the Engineer’s Report and generally described below; (2) funding the Series 2023 Reserve Account in an amount equal to the Series 2023 Reserve Account Requirement; (3) capitalizing a portion of the interest to accrue on the Series 2023 Bonds, and (4) paying certain costs associated with the issuance of the Series 2023 Bonds.

STORMWATER MANAGEMENT

5

The approved conceptual development plan for the Terreno project provides for approximately 51 acres of stormwater management lakes that are located within the District. These lakes are to provide for both water quality treatment and water attenuation for the proposed 685 single family units, all associated roadways, common areas, and the amenity center.

The District’s stormwater management system will convey runoff from the individual residential lots via a system of gutters, inlets and piping into the lakes for treatment purposes. The lakes within the District are designed with large pipe interconnects that allows for the cross conveyance of the stormwater runoff from lake to lake and ultimately into the adjacent wetland slough system.

To ensure compliance with the South Florida Water Management District regulatory requirements, control structures have been or will be installed on the outfall pipes leaving the lakes and regulate the individual lake levels. The overall project designs provide for a regulated outfall point from the onsite stormwater treatment network into the natural wetland slough system that expands through the center of the development.

Construction of the District’s stormwater remaining improvements is proposed to occur through 2026 and has been constructed in three (3) separate phases. Generally, descriptions of the stormwater infrastructure for each phase of District are as follows:

Phase I - Construction of approximately 17 acres of lakes, 28,694 feet of gutters, 10,399 feet of pipe culverts, and related berms and canals.

Phase II - Construction of approximately 7 acres of lakes, 16,565 feet of gutters, 5,617 feet of pipe culverts, and related berms and canals.

Phase III - Construction of approximately 27 acres of lakes, 17,079 feet of gutters, 6,253 feet of pipe culverts, and related berms and canals.

The District’s stormwater system was designed, permitted, and will be constructed based on the following design events:

Roads and Basins - 25 year - 3-day storm event.

Buildings and Residences - 100 year - 3-day storm event.

POTABLE WATER AND SANITARY SEWER

The Project is located within the Collier County Water and Sewer service area, and availability of service has been confirmed. The Project will connect to a 12” water main along the north side of Oil Well Road which will provide service of potable water is available for domestic use, fire protection, and irrigation. Wastewater flows within the project will be collected and transmitted via gravity sewers to two (2) lift stations. The force main leaving both

6

lift stations will connect to an 8” force main which runs through the entire project connecting to the existing 12” force main along the north side of Oil Well Road.

Construction of the District’s potable water and sanitary sewer infrastructure remaining improvements is also proposed to occur through 2026 and has or will be constructed in three (3) separate phases. Generally, descriptions of the potable water and sanitary sewer infrastructure for each phase of District are as follows:

Phase I - Construction of approximately 9,587 feet of gravity sewer, 4,167 feet of sewer force main, 8,920 feet of potable water mains, and 2 sewer pump stations.

Phase II - Construction of approximately 7,162 feet of gravity sewer, 744 feet of sewer force main, and 8,614 feet of potable water mains.

Phase III - Construction of approximately 7,539 feet of gravity sewer and 8,920 feet of potable water mains.

Assessments, Fees and Charges

The costs of acquisition or construction of a portion of these infrastructure improvements have been financed by the District through the sale of its Series 2023 Bonds. The annual debt service payments, including interest due thereon, are payable solely from and secured by the levy of non-ad valorem or special assessments against lands within the District which benefit from the construction, acquisition, establishment and operation of the District’s improvements. Specifically, the Series 2023 Assessments pay back the Series 2023 Bonds for the Series 2023 Project infrastructure. The Series 2023 Assessments were initially levied on the entirety of the gross acreage located within the District for a maximum annual Series 2023 Assessment of
$1,725.94 per unplatted acre. However, upon platting, the Series 2023 Assessments will be allocated to the first 328 single family units on a first platted, first assigned basis. Upon full allocation to the 328 single family units, the remaining unplatted acreage will not be encumbered by the Series 2023 Assessments. The annual debt service obligations of the District which must be defrayed by annual assessments upon each parcel of land or platted lot will depend upon the type of property purchased. Provided below are the current maximum annual assessment levels for the Series 2023 Bonds. Interested persons are encouraged to contact the District Manager for information regarding special assessments on a particular lot or parcel of lands. A copy of the District’s assessment methodology and assessment roll are available for review in the District’s public records.

The current maximum annual debt assessment for each issuance of the Series 2023 Bonds per unit is as follows:

Product Type	Maximum Annual Debt Assessment Per Unit	
42’	$1,595.00	
52’	$1,701.00	

7

66’	$1,808.00	

Note: The current listed maximum annual assessments level amounts include discounts for early payments and estimated county collection costs, which may fluctuate.

The District may undertake the construction, acquisition, or installation of other future improvements and facilities, which may be financed by bonds, notes, or other methods authorized by Chapter 190, Florida Statutes. More information can be obtained from the Capital Improvement Plan on file with the District.

In addition to the Series 2023 Assessments described above, the District’s Board of Supervisors may annually determine and calculate operations and maintenance assessments to be levied against all benefited lands in the District. These assessments may also be collected in the same manner as county ad valorem taxes.

Method of Collection

The District’s special and/or operation and maintenance assessments may appear on that portion of the annual real estate tax notice entitled “non-ad valorem assessments,” and will be collected by the Collier County Tax Collector in the same manner as county ad valorem taxes. Each property owner must pay both ad valorem and non-ad valorem assessments at the same time. Property owners will, however, be entitled to the same discounts as provided for ad valorem taxes. As with any tax notice, if all taxes and assessments due are not paid within the prescribed time limit, the tax collector is required to sell tax certificates which, if not timely redeemed, may result in the loss of title to the property. The District may also elect to collect the assessment directly.

This description of the Terreno Community Development District’s operation, services and financing structure is intended to provide assistance to landowners and purchasers concerning the important role that the District plays in providing infrastructure improvements essential to the use and development of this community. If you have any questions or would simply like additional information about the District, please write to or call the: District Manager, Terreno Community Development District, 2501A Burns Road, Palm Beach Gardens, Florida 33410, (561) 630-4922.

The information provided herein is a good faith effort to accurately and fully disclose information regarding the public financing and maintenance of improvements to real property undertaken by the District and should only be relied upon as such. The information contained herein is, and can only be, a status summary of the District’s public financing and maintenance activities and is subject to supplementation and clarification from the actual documents and other sources from which this information is derived. In addition, the information contained herein may be subject to change over time, in the due course of the District’s activities and in accordance with Florida law. Prospective and current residents and other members of the public should seek confirmation and/or additional information from the District Manager’s office with regard to any questions or points of interest raised by the information presented herein.

8

IN WITNESS WHEREOF, this Disclosure of Public Financing and Maintenance of Improvements to Real Property Undertaken has been executed as of the 13th day of March 2023, and recorded in the Official Records of Collier County, Florida.

WITNESSES:	TERRENO COMMUNITY DEVELOPMENT DISTRICT

Scott Brooks
[Print Name]	Chairperson, Board of Supervisors

[Print Name]

STATE OF FLORIDA
COUNTY OF 	

The foregoing instrument was acknowledged before me by means of ▢ physical presence or ▢ online notarization this 13th day of March 2023, by Scott Brooks as Chairperson of the Board of Supervisors of the Terreno Community Development District.

(Official Notary Signature & Seal)
Name: 	 Personally Known 	 OR Produced Identification 	 Type of Identification 	

9

EXHIBIT A

10

11

12

13

14

15

16

17

18

19

20

21

INTERLOCAL AGREEMENT FOR THE PREPARATION AND SUBMISSION OF THE TERRENO COMMUNITY DEVELOPMENT DISTRICT, NON-AD VALOREM ASSESSMENT ROLL AND THE RELATED UNIFORM COLLECTION AND ENFORCEMENT THEREOF

WHEREAS, the Terreno Community Development District (hereinafter "DISTRICT") was established pursuant to the provisions of Chapter 190, Florida Statutes, and the DISTRICT is authorized to levy non ad valorem or special assessments including benefit assessments, maintenance assessments, and other such assessments; and

WHEREAS, Section 189.05, Florida Statutes, and Section 197.3631, Florida Statutes, also authorize this DISTRICT to collect non-ad valorem assessments; and

WHEREAS, The Honorable Rob Stoneburner, is the Collier County Tax Collector (hereinafter "TAX COLLECTOR"), and therefore the County Constitutional Officer charged, as agent of the State, with the collection and enforcement of ad valorem taxes and non-ad valorem assessments levied by the County, the School Board and municipalities and any special districts within the County; and

WHEREAS, the honorable Abe Skinner, is the Collier County Property Appraiser (hereinafter "PROPERTY APPRAISER"), and therefore the County Constitutional Officer charged with determining the value of all property within the County, and with maintaining certain records connected therewith, specifically including the name of the owner, address and legal description of parcels of property on the tax rolls, and with providing certain services and information to taxing authorities under Section 190.021, Florida Statutes, and Section 197.3632, Florida Statutes; and

WHEREAS, Section 197.3631, 197.3632, Florida Statutes, and Section 189.05, Florida Statutes, provide that the DISTRICT may arrange for the collection and enforcement of non-ad valorem special assessments by the TAX COLLECTOR on the official tax notice as certified to the TAX COLLECTOR by the DISTRICT upon receipt by the DISTRICT from the PROPERTY APPRAISER of the name, address and legal description of each applicable parcel; and

WHEREAS, Chapter 197, Florida Statutes, authorizes the DISTRICT, PROPERTY APPRAISER and TAX COLLECTOR to enter into an Agreement regarding the reimbursement of necessary administrative costs incurred by the PROPERTY APPRAISER and TAX COLLECTOR; and

WHEREAS, pursuant to Section 197.3632, Florida Statutes, the PROPERTY APPRAISER may provide additional services for the DISTRICT over and above the requirement to provide name, address and legal for each parcel of land upon which the non-ad valorem assessment is to be levied, and be reimbursed accordingly, including authority to act as the agent of the DISTRICT in fulfilling the duty of the DISTRICT both to prepare and to certify the non-ad valorem assessment roll to the TAX COLLECTOR by the 15th of September of each calendar year in compatible electronic medium tied to

the property identification number on the tax roU of the PROPERTY APPRAISER; and

WHEREAS, the use of the uniform non-ad valorem assessment methodology is more fair, more efficient and more accountable than the other alternatives available; and

WHEREAS, the Board of Supervisors of the DISTRICT passed Resolution Number 2022-28, expressing its intent to use the uniform collection and enforcement of non- ad valorem assessments methodology in accordance with the procedures outlined in Section 197.3632, Florida Statutes, and has therefore elected to use the non-ad valorem assessment methodology in Section 197.3632, Florida Statutes, and has elected not to use the methodology in Section 190.021, Florida Statutes: and

WHEREAS, the duty to certify the non-ad valorem assessment roll is in the Chairperson of the Board of Supervisors of the DISTRICT; and

WHEREAS, The DISTRICT wants the PROPERTY APPRAISER to serve as agent of the DISTRICT specifically to list, extend, prepare and certify the non-ad valorem assessment roll of the DISTRICT; and

WHEREAS, the TAX COLLECTOR, PROPERTY APPRAISER and DISTRICT
are agencies of the State withln the meaning of Chapter 189, Florida Statutes, and Chapter 163, Florida Statutes, and desire the joint powers which each will exercise separately under the terms of this Agreement; and

WHEREAS, pursuant to Chapter 189, Florida Statutes, Chapter 163, Florida Statutes, and Chapter 190, Florida Statutes, there is ample statutory authority for interlocal and interagency agreements between the TAX COLLECTOR, PROPERTY APPRAISER and the DISTRICT; and

WHEREAS, the TAX COLLECTOR and the PROPERTY APPRAISER agree to provide the services of their respective offices for the non-ad valorem assessments involved as set forth in statutory law, applicable rules, as amended, and in this Agreement; and

WHEREAS, the DISTRICT desires to accept the services of the TAX COLLECTOR and PROPERTY APPRAISER as provided in this Agreement and further agrees to fulfill its duties and responsibilities under law and pursuant to this Agreement.

The DISTRICT, PROPERTY APPRAISER and TAX COLLECTOR hereby agree
as follows:

1.	Commencing with the 2023 calendar year, and all subsequent years, except as provided in paragraph seven (7). the PROPERTY APPRAISER as agent for the DISTRICT shall list, prepare, submit and certify to the TAX COLLECTOR by September 15th, on compatible electronic medium, tied to the property identification number, the non-ad valorem assessment roll, and that the District shall comply with all applicable provisions of Chapter 197, Florida Statutes, and related rules, including, but not limited to, compliance with all advertisements and notices required in the election to use the non-ad valorem assessment methodology, levying and roll

adoption (subsequent years).

Because the DISTRICT, in January, 2023 did furnish the legal description of the land area on which the non-ad valorem assessments be levied for calendar year 2023 to the Property Appraiser, the Property Appraiser shall determine accurately the name, address and legal description of each affected parcel and submit that information to the DISTRICT by the 1st of June, 2023; the PROPERTY APPRAISER shall also act as the agent for the DISTRICT (as Principal) to list, extend, and prepare the non-ad valorem assessment roll for and on behalf of the DISTRICT and certify it by 15th September, 2023 in the name of the DISTRICT to the TAX COLLECTOR in compatible electronic medium tied to the property identification number; provided, however, that the PROPERTY APPRAISER shall not be under any duty to act as agent of the DISTRICT in preparing and certifying to the TAX COLLECTOR the non-ad valorem assessment roll unless the DISTRICT shall have provided the PROPERTY APPRAISER, no later than August 1st of each calendar year as a condition precedent, the officially adopted per unit of property non-ad valorem assessments as officially adopted by the Board of Supervisors at a duly noticed meeting.

Pursuant to expressed authority in Section 197.3632, Florida Statutes, the TAX COLLECTOR shall be compensated at the rate of two percent (2%) of the non­ ad valorem assessments collected as compensation for all costs of the TAX COLLECTOR, which two percent (2%) shall be withheld by the TAX COLLECTOR as payment prior to distribution to the DISTRICT of funds collected.

The DISTRICT hereby agrees to compensate the PROPERTY APPRAISER for all necessary administrative costs as defined in section 197.3632(2), Florida Statutes, incurred in filling both statutory and contractual duty of the PROPERTY APPRAISER under this Agreement and the DISTRICT shall compensate the PROPERTY APPRAISER at the rate of one and one-half percent (1.5%) of the non-ad valorem assessment collected for setting up the non-ad valorem or special assessment roll and, annually thereafter, the amount of one and one-half percent (1.5%) of the non-ad valorem assessment collected for the maintenance of each benefit unit (parcel of property).

If the actual costs of performing these services by the PROPERTY APPRAISER exceed the compensation referenced in paragraph four (4) above, then the compensation to be paid by the DISTRICT to the PROPERTY APPRAISER shall equal the actual cost of performing such services.

The parties to this Agreement agree to consult and cooperate as necessary and practical for the efficient and timely listing, preparation, submissions, certification, collection and enforcement against delinquencies of the DISTRICT non­ ad valorem or special assessment rolls and levies including provision by the DISTRICT to the other parties of any staff assistance reasonably necessary, and required to .effect the purposes of this Agreement.

The term of this Agreement shall commence with the 2023 non-ad valorem assessment rolls and shall continue and extend uninterrupted from year to

year from the effective date as indicated below unless a notice of termination shall be issued by any party. A notice of termination shall be in writing and shall be delivered not less than ninety (90) days in advance of the commencement of the next fiscal year of the DISTRICT save and except during those years when the DISTRICT in timely fashion notifies the TAX COLLECTOR and the PROPERTY APPRAISER that it needs to collect and enforce the assessment pursuant to other provisions of law.

In performing these services herein specifically provided, neither the TAX COLLECTOR nor the PROPERTY APPRAISER is in any way, express or implied, direct or indirect, responsible for proposing, imposing or levying any non-ad valorem special assessment and/or for determining whether any such special or non-ad valorem assessment levied by the DISTRICT is authorized, constitutional, legal and valid and the DISTRICT acknowledges that it is solely responsibility of the DISTRICT to levy such assessments and to make sure they are authorized, legal, valid and constitutional.

All agreements previously entered into by and between the parties hereto in conflict herewith are hereby superseded to the extent of the conflict.

This Agreement shall become effective upon the signing of the Agreement by the TAX COLLECTOR, the PROPERTY APPRAISER, and the DISTRICT, and
with the appropriate filing with the Clerk of the Circuit Court of Collier County, Florida, and shall supersede any and all prior Agreements.

EXECUTED this 		day of 	,2023

(if blank, the execution date is the latest date of signatures below)

TERRENO COMMUNITY DEVELOPMENT DISTRICT

Attest:

Witness

By: 		 _ (Signature)

Its:

Printed Name

(Title of signer above)

Witness

Printed Name

STATE OF FLORIDA COUNTY OF COLLIER

The foregoing instrument was acknowledged before me this 		day
of	, 2023 by Scott Brooks, as Chairperson of the TERRENO COMMUNITY DEVELOPMENT DISTRICT, who is personally known to me or who has produced 		Identification.

Signature of Person Taking Acknowledgement
(Affix Seal)

Name of Acknowledger Typed, Printed of Stamped

Title or Rank

COLLIER COUNTY PROPERTY APPRAISER

1tness

By: (M..	 &e---r
AB SK.INNER

,?A>Tc. ti "	A..
Printed Name

Ll,slec

STATE OF FLORIDA COUNTY OF COLLIER

C)._..The foregoing instrument was acknowledged before me this l3 >--- day

gnature of Person Taking Acknowledgement

of	_h		,2023 by ABE SKINNER, as Property Appraiser for Collier County, Florida:;1io is personally known to me or who has produced 	_ Identification.

(Affix Seal)

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Name of Acknowledger Typed, Printed of Stamped

Title or Rank

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ROB STONEBURNER

COLLIER COUNTY TAX COLLECTOR

By:-------'--------	;"""""""'0-----=-=-------- 

Printed Name'

STATE OF FLORIDA COUNTY OF COLLIER
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The foregoing instrument was acknowledged before me this day
of	H:f?RlJAf2..i	, 2023 by ROB STONEBURNER, as Tax Collector for Collier County, Flofidi who is personally known to me or who has produced 	
Identification.

(Affix Seal)

Signature of Person Taking Acknowledgement

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Name of Acknowledger Typed, Printed of Stamped
F	N fl..
Title or Rank

Serial Number, if any
My Commission expires:

RESOLUTION 2023‐06

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TERRENO COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2023/2024; DECLARING SPECIAL ASSESSMENTS TO FUND THE PROPOSED BUDGET PURSUANT TO CHAPTERS 170, 190 AND 197, FLORIDA STATUTES; SETTING PUBLIC HEARINGS; ADDRESSING PUBLICATION; ADDRESSING SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has heretofore prepared and submitted to the Board of Supervisors (“Board”) of the Terreno Community Development District (“District”) prior to June 15, 2023, a proposed budget (“Proposed Budget”) for the fiscal year beginning October 1, 2023 and ending September 30, 2024 (“Fiscal Year 2023/2024”); and

WHEREAS, it is in the best interest of the District to fund the administrative and operations services (together, “Services”) set forth in the Proposed Budget by levy of special assessments pursuant to Chapters 170, 190 and 197, Florida Statutes (“Assessments”), as set forth in the preliminary assessment roll included within the Proposed Budget; and

WHEREAS, the District hereby determines that benefits would accrue to the properties within the District, as outlined within the Proposed Budget, in an amount equal to or in excess of the Assessments, and that such Assessments would be fairly and reasonably allocated as set forth in the Proposed Budget; and

WHEREAS, the Board has considered the Proposed Budget, including the Assessments, and desires to set the required public hearings thereon;

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

PROPOSED BUDGET APPROVED. The Proposed Budget prepared by the District Manager for Fiscal Year 2023/2024 attached hereto as Exhibit A is hereby approved as the basis for conducting a public hearing to adopt said Proposed Budget.

DECLARING ASSESSMENTS. Pursuant to Chapters 170, 190 and 197, Florida Statutes, the Assessments shall defray the cost of the Services in the total estimated amounts set forth in the Proposed Budget. The nature of, and plans and specifications for, the Services to be funded by the Assessments are described in the Proposed Budget and in the reports (if any) of the District Engineer, all of which are on file and available for public inspection at the “District’s Office,” c/o Special District Services, Inc., 2501A Burns Road, Palm Beach Gardens, Florida 33410. The Assessments shall be levied within the District on all benefitted lots and lands, and shall be apportioned, all as described in the Proposed Budget and the preliminary assessment roll included therein. The preliminary assessment roll is also on file and available for public inspection at the District’s Office. The Assessments shall be paid in one more installments pursuant to a bill

issued by the District in November of 2023, and pursuant to Chapter 170, Florida Statutes, or, alternatively, pursuant to the Uniform Method as set forth in Chapter 197, Florida Statutes.

SETTING PUBLIC HEARINGS. Pursuant to Chapters 170, 190, and 197, Florida Statutes, public hearings on the approved Proposed Budget and the Assessments are hereby declared and set for the following date, hour and location:

DATE:	July 10, 2023
HOUR:	9:00 a.m.
LOCATION:	Golf Club of the Everglades 8835 Vanderbilt Beach Road Naples, Florida 34120

TRANSMITTAL	OF	PROPOSED	BUDGET	TO	LOCAL	GENERAL	PURPOSE
GOVERNMENT. The District Manager is hereby directed to submit a copy of the Proposed Budget to Collier County at least sixty (60) days prior to the hearing set above.

POSTING OF PROPOSED BUDGET. In accordance with Section 189.016, Florida Statutes, the District’s Secretary is further directed to post the approved Proposed Budget on the District’s website at least two (2) days before the budget hearing date as set forth in Section 4, and shall remain on the website for at least forty‐five (45) days.

PUBLICATION OF NOTICE. The District shall cause this Resolution to be published once a week for a period of two (2) weeks in a newspaper of general circulation published in Collier County. Additionally, notice of the public hearings shall be published in the manner prescribed in Florida law.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 13th DAY OF MARCH 2023.

ATTEST:	TERRENO COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary	Chair/Vice Chair, Board of Supervisors

Exhibit A:	Proposed Budget

Exhibit A

Proposed Budget

Terreno
Community Development District

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024
BUDGET	
O&M (Operation & Maintenance) Assessments	216,493	
Developer Contribution	0	
Debt Assessments	562,254	
,nterest ,ncome	240	
		
TOTAL REVENUES	$	778,987	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	36,000	
/egal	2 ,500	
Assessment Roll	5,000	
Audit Fees	4,300	
Arbitrage Rebate Fee	650	
,nsurance	6,000	
/egal Advertisements	3,000	
Miscellaneous	1,500	
3ostage	200	
Office Supplies	1,500	
Dues & Subscriptions	1 5	
Website Management & ADA Compliance	3,000	
Trustee Fees	4,100	
Continuing Disclosure Fee	1,000	
Total Administrative Expenditures	$	93,925	
		
Maintenance Expenditures		
(ngineering ,nspections	3,000	
Miscellaneous Maintenance	1,000	
3reserve Maintenance	 5,000	
/aNe Maintenance	20,000	
Total Maintenance Expenditures	$	99,000	
		
Total O&M Expenditures	$	192,925	
		
REVENUES LESS EXPENDITURES	$	58 ,0 2	
		
%ond 3ayments	(52 ,519)	
		
BALANCE	$	57,543	
		
County Appraiser Fee	(11,509)	
Tax Collector Fee	(15,345)	
Discounts For (arly 3ayments	(30,6 9)	
		
EXCESS/ S+ORTFALL 	$	-	

DETAILED PROPOSED BUDGET
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022 ACTUAL	
FISCAL YEAR 2022/2023 BUDGET	
FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	
O&M (Operation & Maintenance) Assessments	0	0	216,493	Expenditures Less lnterest/.94	
Developer Contribution	39,025	87,875	0		
Debt Assessments	0	0	562,254	Bond Payments/.94	
lnterest lncome	0	0	240	lnterest ProMected At $20 Per Month	
					
TOTAL REVENUES	$	39,025	$	87,875	$	778,987		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	6,000	36,000	36,000	$3,000 X 12 Months	
Legal	13,682	30,000	27,500	
Fiscal Year 2022/2023 Expenditure As Of 1/31/23 ls $7,645	
Assessment Roll	0	0	5,000	As Per Contract	
Audit Fees	0	0	4,300		
Arbitrage Rebate Fee	0	0	650	
Commences ln Fiscal Year Following lssuing Of Bond	
lnsurance	1,123	6,000	6,000		
Legal Advertisements	11,347	7,500	3,000		
Miscellaneous	120	1,500	1,500		
Postage	94	200	200		
Office Supplies	1,304	1,500	1,500		
Dues & Subscriptions	0	175	175	
Annual Fee Due Department Of Economic Opportunity	
Website Management & ADA Compliance	500	3,000	3,000	$250 X 12 Months	
Trustee Fees	0	0	4,100	
Commences ln Fiscal Year Following lssuing Of Bond	
Continuing Disclosure Fee	0	0	1,000		
Total Administrative Expenditures	$	34,170	$	85,875	$	93,925		
					
Maintenance Expenditures					
Engineering/lnspections	0	1,000	3,000		
Miscellaneous Maintenance	0	1,000	1,000		
Preserve Maintenance	0	0	75,000		
Lake Maintenance	0	0	20,000		
Total Maintenance Expenditures	$	-	$	2,000	$	99,000		
					
Total O&M Expenditures	$	34,170	$	87,875	$	192,925		
					
REVENUES LESS EXPENDITURES	$	4,855	$	-	$	586,062		
					
Bond Payments	0	0	(528,519)	2024 P & l Payments	
					
BALANCE	$	4,855	$	-	$	57,543		
					
County Appraiser Fee	0	0	(11,509)	One And One Half Percent Of Total Assessment Roll	
Tax Collector Fee	0	0	(15,345)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	0	0	(30,689)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	4,855	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2021/2022 ACTUAL	FISCAL YEAR 2022/2023 BUDGET	FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

lnterest lncome	
0	
0	
100	
ProMected lnterest For 2023/2024	

NA9 Tax Collection	
0	
0	
528,519	
Maximum Debt Service Collection	

Developer Contribution	
0	
0	
0		

Total Revenues	
$	-	
$	-	
$	528,619		

EXPENDITURES					

Principal Payments	
0	
0	
125,000	
Principal Payment Due ln 2024	

lnterest Payments	
0	
0	
403,194	
lnterest Payment Due ln 2024	

Bond Redemption	
0	
-	
425	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	-	
$	528,619		

Excess/ (Shortfall)	
$	-	
$	-	
$	-		

Note: Capital lnterest Set-up Through May 2023 - Developer To Be Direct Billed For November 2023 lnterest Payment ($202,925).

Series 2023 Bond Information

Original Par Amount =	$8,060,000	Annual Principal Payments Due =	May 1st	

lnterest Rate =	
4.25% - 5.25%	
Annual lnterest Payments Due =	
May 1st & November 1st	

lssue Date =	
February 2023			

Maturity Date =	
May 2053			

Par Amount As Of 3/1/23 =	$8,060,000

Page 65

TERRENO COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year		Fiscal Year		Fiscal Year	
2021/2022		2022/2023		2023/2024	
Assessment*		Assessment*		Projected Assessment*	

O & M For Single Family 42' Unit	

$	-	$	-	$	660.04	
Debt For Single Family 42' Unit	$	-		$	-		$	1,595.00	
Total For Single Family 42' Unit	$	-	$	-	$	2,255.04	
O & M For Single Family 52' Unit	$	-	$	-	$	660.04	
Debt For Single Family 52' Unit	$	-		$	-		$	1,701.00	
Total For Single Family 52' Unit	$	-	$	-	$	2,361.04	

O & M For Single Family 66' Unit	
$	-	$	-	$	660.04	
Debt For Single Family 66' Unit	$	-		$	-		$	1,808.00	
Total For Single Family 66' Unit	$	-	$	-	$	2,468.04	

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

Community lnformation: Single Family 42' Units: 96
Single Family 52' Units: 96 Single Family 66' Units: 136 Total:	328 Units

3/6/2023 12:18 PM	lV