TERRENO COMMUNITY DEVELOPMENT
DISTRICT

COLLIER COUNTY REGULAR BOARD MEETING APRIL 13, 2026
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
Terreno HOA 1975 Terreno Boulevard
Naples, Florida 34120
REGULAR BOARD MEETING
April 13, 2026
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 9, 2026 Regular Board Meeting…	Page 2
Old Business
New Business
Consider Resolution No. 2026-01 – Adopting a Fiscal Year 2026/2027 Proposed Budget… Page 4
Administrative Matters
Board Member Comments
Adjourn

TERRENO COMMUNITY DEVELOPMENT DISTRICT NOTICE OF REGULAR BOARD OF SUPERVISORS’ MEETING
(APRIL 13, 2026)

The Board of Supervisors (“Board”) for the Terreno Community Development District (“District”) will hold a Regular Board Meeting (“Meeting”) on April 13, 2026, at 9:00 a.m. in the Terreno HOA located at 1975 Terreno Boulevard, 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.

Meetings may be cancelled from time to time without advertised notice.

Michelle Krizen District Manager

TERRENO COMMUNITY DEVELOPMENT DISTRICT

www.terrenocdd.org
PUBLISH: COLLIER COUNTY WEBSITE: BEGINNING AT MIDNIGHT ON FRIDAY, 04/03/26 & EXPIRING AT MIDNIGHT ON SATURDAY, 04/04/26

TERRENO COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
FEBRUARY 9, 2026

CALL TO ORDER

The February 9, 2026, Regular Board Meeting of the Terreno Community Development District (the “District”) was called to order at 9:00 a.m. in the offices of the Terreno HOA located at 1975 Terreno Boulevard, Naples, Florida 34120.

PROOF OF PUBLICATION

Proof of publication was presented which showed that notice of the Regular Board Meeting had been published on the Collier County website from January 30, 2026, to February 1, 2026, as legally required.

ESTABLISH A QUORUM

A quorum was established with the following Supervisors in attendance:

Chairperson Scott Brooks, Vice Chairperson Laura Ray and Supervisors Naomi Robertson and Patrick Butler.

Also in attendance were District Manager Michelle Krizen of Special District Services, Inc.; District Counsel Alyssa Willson of Kutak Rock (via phone); and District Engineer Ryan Lorenz of J.R. Evans Engineering, P.A.
ADDITIONS OR DELETION 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
October 13, 2025, Regular Board Meeting
A motion was made by Ms. Ray, seconded by Mr. Brooks and passed October 13, 2025, Regular Board Meeting, as presented.
OLD BUSINESS

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

NEW BUSINESS
Consider Lake Bank Inspection Report

Page 1 of 2

Mr. Lorenz presented the Lake Bank Inspection Report two areas and Lake 5 that could use some remediation. The previous repairs have held and looked appropriate.

The District engineer will coordinate with Mr. Reiser to get a proposal for repairs.

There is a line item for pipe cleaning and inspections. At this time, the District engineer does not recommend that the Board proceed with any pipe inspections and/or cleaning due to the age and the functioning of the system.

A motion was made by Mr. Brooks, seconded by Ms. Ray approving the Lake Bank Inspection Report and authorizing District staff to work with Mr. Reiser to have a contract written up with a not to exceed amount of $25,000 and authorizing Mr. Reiser to execute when advised by District Counsel

ADMINISTRATIVE MATTERS

The Board was advised that the March meeting would be cancelled. They were also advised that the April 13, 2026, meeting would include the proposed budget.

BOARD MEMBER COMMENTS

Ms. Ray advised that she would like to start receiving the Supervisor stipend beginning with the April 13, 2026, meeting.
ADJOURNMENT
A motion was made by Mr. Brooks, seconded by Ms. Ray and passed unanimously adjourning the meeting at 9:16 a.m.

ATTESTED BY:

Secretary/Assistant Secretary	Chairperson/Vice-Chair

Page 2 of 2

RESOLUTION 2026-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TERRENO COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2026/2027; 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, 2026, a proposed budget (“Proposed Budget”) for the fiscal year beginning October 1, 2026 and ending September 30, 2027 (“Fiscal Year 2026/2027”); 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 2026/2027 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 or more installments pursuant to a

bill issued by the District in November of 2025, 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:		, 2026
HOUR:	9:00 a.m.
LOCATION:		DiVosta Sales Center 1729 Terreno Boulevard
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 April 2026.

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 2026/2027
October 1, 2026 - September 30, 2027

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2023)

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2025)

ASSESSMENT COMPARISON

PROPOSED BUDGET
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES	FISCAL YEAR 2026/2027 BUDGET	
O&M (Operation & Maintenance) Assessments	452,146	
Debt Assessments - Series 2023	562,254	
Debt Assessments - Series 2025	601,878	
Interest Income	1,500	
TOTAL REVENUES	$	1,617,778	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	39,168	
Legal	25,000	
Assessment Roll	5,000	
Audit Fees	6,100	
Arbitrage Rebate Fee	1,300	
Insurance	7,100	
Legal Advertisements	2,500	
Miscellaneous	1,000	
Postage	300	
Office Supplies	1,200	
Dues & Subscriptions	175	
Website Management & ADA Compliance	3,000	
Trustee Fees	8,500	
Dissemination Services	3,500	
Continuing Disclosure Fee	500	
Total Administrative Expenditures	$	104,343	
		
Maintenance Expenditures		
Engineering/Inspections	25,000	
Miscellaneous Maintenance	2,000	
Preserve Maintenance	150,000	
Lake Bank Maintenance	50,000	
Pipe Inspection/Cleaning	25,000	
Special Projects	47,721	
Total Maintenance Expenditures	$	299,721	
		
Total O&M Expenditures	$	404,064	
		
REVENUES LESS EXPENDITURES	$	1,213,714	
		
Bond Payments (Series 2023)	(528,519)	
Bond Payments (Series 2025)	(565,765)	
		
BALANCE	$	119,430	
		
County Appraiser Fee	(23,886)	
Tax Collector Fee	(31,848)	
Discounts For Early Payments	(63,696)	
		
EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES	FISCAL YEAR 2024/2025 ACTUAL	FISCAL YEAR 2025/2026 BUDGET	FISCAL YEAR 2026/2027 BUDGET	

COMMENTS	
O&M (Operation & Maintenance) Assessments	217,291	452,157	452,146	Expenditures Less Interest/.94	
Debt Assessments - Series 2023	562,309	562,254	562,254	Bond Payments/.94	
Debt Assessments - Series 2025	0	601,878	601,878	Bond Payments/.94	
Interest Income	10,351	1,200	1,500	Interest Projected At $125 Per Month	
TOTAL REVENUES	$	789,951	$	1,617,489	$	1,617,778		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	37,080	38,148	39,168	CPI Adjustment	
Legal	12,175	27,250	25,000	$2,250 Decrease From 2025/2026 Budget	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	4,400	6,000	6,100	$100 Increase From 2025/2026 Budget	
Arbitrage Rebate Fee	650	1,300	1,300	No Change From 2025/2026 Budget	
Insurance	5,590	6,100	7,100	Fiscal Year 2025/2026 Expenditure Was $6,245	
Legal Advertisements	4,966	2,900	2,500	$400 Decrease From 2025/2026 Budget	
Miscellaneous	465	1,000	1,000	No Change From 2025/2026 Budget	
Postage	308	250	300	$50 Increase From 2025/2026 Budget	
Office Supplies	525	1,250	1,200	$50 Decrease From 2025/2026 Budget	
Dues & Subscriptions	175	175	175	Annual Fee Due Department Of Economic Opportunity	
Website Management & ADA Compliance	3,000	3,000	3,000	$250 X 12 Months	
Trustee Fees	4,246	8,500	8,500	No Change From 2025/2026 Budget	
Dissemination Services	0	3,500	3,500	Required By Bond Underwriter	
Continuing Disclosure Fee	500	1,000	500	$500 Decrease From 2025/2026 Budget	
Total Administrative Expenditures	$	79,080	$	105,373	$	104,343		
					
Maintenance Expenditures					
Engineering/Inspections	25,164	25,000	25,000	No Change From 2025/2026 Budget	
Miscellaneous Maintenance	0	2,000	2,000	No Change From 2025/2026 Budget	
Preserve Maintenance	75,000	150,000	150,000	No Change From 2025/2026 Budget	
Lake Bank Maintenance	17,890	50,000	50,000	No Change From 2025/2026 Budget	
Pipe Inspection/Cleaning	0	25,000	25,000	No Change From 2025/2026 Budget	
Special Projects	0	46,402	47,721	Special Projects	
Total Maintenance Expenditures	$	118,054	$	298,402	$	299,721		
					
Total O&M Expenditures	$	197,134	$	403,775	$	404,064		
					
REVENUES LESS EXPENDITURES	$	592,817	$	1,213,714	$	1,213,714		
					
Bond Payments (Series 2023)	(530,360)	(528,519)	(528,519)	2027 Principal & Interest Payments	
Bond Payments (Series 2025)	0	(565,765)	(565,765)	2027 Principal & Interest Payments	
					
BALANCE	$	62,457	$	119,430	$	119,430		
					
County Appraiser Fee		(23,886)	(23,886)	One And One Half Percent Of Total Assessment Roll	
Tax Collector Fee	(6,742)	(31,848)	(31,848)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(29,220)	(63,696)	(63,696)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	26,495	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2023)
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES	FISCAL YEAR 2024/2025 ACTUAL	FISCAL YEAR 2025/2026 BUDGET	FISCAL YEAR 2026/2027 BUDGET	

COMMENTS	

Interest Income	
23,939	
1,200	
1,500	
Projected Interest For 2026/2027	

NAV Tax Collection	
530,360	
528,519	
528,519	
Maximum Debt Service Collection	

Total Revenues	
$	554,299	
$	529,719	
$	530,019		

EXPENDITURES					

Principal Payments	
130,000	
135,000	
140,000	
Principal Payment Due In 2027	

Interest Payments	
400,538	
392,144	
386,300	
Interest Payment Due In 2027	

Bond Redemption	
-	
2,575	
3,719	
Estimated Excess Debt Collections	

Total Expenditures	
$	530,538	
$	529,719	
$	530,019		

Excess/ (Shortfall)	
$	23,761	
$	-	
$	-		

Series 2023 Bond Information

Original Par Amount =	$8,060,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	4.25% - 5.25%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	February 2023			
Maturity Date =	May 2053			

Par Amount As Of 1/1/26 =	$7,805,000

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2025)
TERRENO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES	FISCAL YEAR 2024/2025 ACTUAL	FISCAL YEAR 2025/2026 BUDGET	FISCAL YEAR 2026/2027 BUDGET	

COMMENTS	

Interest Income	
7,934	
1,200	
1,500	
Projected Interest For 2026/2027	

NAV Tax Collection	
0	
565,765	
565,765	
Maximum Debt Service Collection	

Bond Proceeds	
388,697	
0	
0		

Developer Contribution	
0	
0	
0		

Total Revenues	
$	396,631	
$	566,965	
$	567,265		

EXPENDITURES					

Principal Payments	
0	
120,000	
125,000	
Principal Payment Due In 2027	

Interest Payments	
105,815	
445,428	
439,854	
Interest Payment Due In 2027	

Bond Redemption	
-	
1,537	
2,411	
Estimated Excess Debt Collections	

Total Expenditures	
$	105,815	
$	566,965	
$	567,265		

Excess/ (Shortfall)	
$	290,816	
$	-	
$	-		

Note: Capital Interest Set-up Through May 2025 - Developer Invoiced For November 2025 Interest Payment ($224,079).

Series 2025 Bond Information

Original Par Amount =	$8,250,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	4.55% - 5.65%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	February 2025			
Maturity Date =	May 2055			

Par Amount As Of 1/1/26 =	$8,250,000

Page 13

TERRENO COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

	Fiscal Year	Fiscal Year	Fiscal Year	
	2024/2025	2025/2026	2026/2027	
		Assessment*	 	Assessment*		 Projected Assessment* 	
2023 Bond			
O & M For Single Family 42' Unit	$	659.14	$	659.13	$	659.12	
Debt For Single Family 42' Unit	$	1,595.00	$	1,595.00	$	1,595.00	
Total For Single Family 42' Unit		
$	2,254.14	$	2,254.13	
$	2,254.12	
O & M For Single Family 52' Unit	$	659.14	$	659.13	$	659.12	
Debt For Single Family 52' Unit	$	1,701.00	$	1,701.00	$	1,701.00	
Total For Single Family 52' Unit		
$	2,360.14	$	2,360.13	
$	2,360.12	
O & M For Single Family 66' Unit	$	659.14	$	659.13	$	659.12	
Debt For Single Family 66' Unit	$	1,808.00	$	1,808.00	$	1,808.00	
Total For Single Family 66' Unit		
$	2,467.14	$	2,467.13	
$	2,467.12	
2025 Bond			
O & M For Single Family 42' Unit	$	-	$	659.13	$	659.12	
Debt For Single Family 42' Unit	$	-	$	1,595.36	$	1,595.36	
Total For Single Family 42' Unit		
$	-	$	2,254.49	
$	2,254.48	
O & M For Single Family 52' Unit	$	-	$	659.13	$	659.12	
Debt For Single Family 52' Unit	$	-	$	1,701.72	$	1,701.72	
Total For Single Family 52' Unit		
$	-	$	2,360.85	
$	2,360.84	
O & M For Single Family 66' Unit	$	-	$	659.13	$	659.12	
Debt For Single Family 66' Unit	$	-	$	1,808.08	$	1,808.08	
Total For Single Family 66' Unit		
$	-	$	2,467.21	
$	2,467.20	
* Assessments Include the Following:	Community Information:		
4% Discount for Early Payments	Phase 1: 328 Units		
County Tax Collector Fee		Phase 2: 358 Units			
County Property Appraiser Fee	Total: 686 Units		
Community Information:	Community Information:		
Phase 1	Phase 2		
Single Family 42' Units: 96	Single Family 42' Units: 131		
Single Family 52' Units: 96	Single Family 52' Units: 165		
Single Family 66' Units: 136	Single Family 66' Units: 62		
Total:	328 Units	Total:	358 Units		

V