MINUTES OF MEETING WESTSIDE
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Westside Community Development District was held Wednesday, October 11, 2017 at 11:00 a.m. at the offices of Hanson Walter & Associates, 8 Broadway Avenue, Suite 104, Kissimmee, Florida.

Present and constituting a quorum were:
Drew Abel Mike Dady Scott Stewart
Also present were:
Jason Showe Jan Carpenter
Andrew d'Adesky Santiago Machado Brian Smith
Nate Eckloff Julie Santamaria Bennett Ruedas

FIRST ORDER OF BUSINESS
Mr. Showe called the meeting to order.

SECOND ORDER OF BUSINESS

Chairman Assistant Secretary Assistant Secretary

District Manager District Counsel Latham Shuker District Engineer Field Manager
RBC Capital Markets (by phone) RBC Capital Markets
Mattamy Homes (by phone)

Roll Call

Public Comment Period

There being none, the next item followed.

THIRD ORDER OF BUSINESS	Approval of the Minutes of the September 6,
2017 Meeting

On MOTION by Mr. Abel seconded by Mr. Stewart with all in favor the minutes of the September 6, 2017 meeting were approved as presented.

Mr. Eckloffjoined the meeting at this time by telephone.

October 11, 2017	Westside Community Development District

FOURTH ORDER OF BUSINESS	Public Hearing

On MOTION by Mr. Abel seconded by Mr. Dady with all in favor the public hearing was opened.

Consideration of the First Supplement to the Engineer's Report
Mr. Showe stated this is for Westside Phases 1, 2, and 3 specifically the Solara Development Phases 1 and 2 and that was provided as part of your package.
Mr. Dady asked what is LaRosa?
Mr. Machado responded that is the property located at the northeast corner of Funie Steed Road and Westside Boulevard, Paradise Palms.
Mr. Dady asked is it a particular phase of Lennar, Paradise Palms?
Mr. Showe stated I think it is all of it. That was the original name and it was sold and redeveloped.
Mr. Dady stated it says the Phase 2 public infrastructure has been fully completed. Is that
entirely accurate? We have had some discrepancy over CIP District road issues with Lennar before on Funie Steed, the entire completion and acceptance of the road by the County.
Mr. Machado responded Funie Steed is completed and accepted. Mr. Dady asked what about the utilities?
Mr. Machado responded the utilities are the only outstanding item in making those connections.
Mr. d'Adesky stated that is on the agenda today. All the roadway improvements that get
dedicated to the County have all been completed.

Consideration of Assessment Methodology Report
Mr. Showe stated the methodology takes the full infrastructure costs as described in the engineer's report and we have allocated that to the development plan for Solara. This is a ceiling and we expect the assessments will come in lower than this but we have taken the full cost to build all the infrastructure and assigned that to all the properties.
Mr. Dady asked how much was it grossed up?

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October 11, 2017	Westside Community Development District

Mr. Showe responded we take the full development plan, which 1s $10 million in construction costs and they will build the bond numbers based on that.
Mr. Dady asked what was the total ceiling and the amount ofdebt that was approved at this District when the CDD was formed?
Mr. d'Adesky asked, do you mean for the validation? I'm not sure offthe top ofmy head but we have reviewed those numbers.
Mr. Dady asked do we still have capacity to bond after this? Mr. d'Adesky responded yes.
Mr. Abel stated one ofthe metrics was dollars as a percentage ofland equity and it was 25% to 30% ofthe lot value. It depends on how you ask the question.
Mr. Dady asked for future development ifsomeone else wanted to issue more bonds is there still capacity under the validation?
Mr. d'Adesky responded yes, especially given the fact that these numbers are going to come down. We imagine the first issuance will be around $3.3 million.
Mr. Eckloff stated the last numbers we ran showed $3.170 million but probably $3.3 million for purposes ofdiscussion is a good number.
Mr. Showe stated for purposes ofthe master we contemplate that the District is going to
be building and assessing for the full construction value and we expect the bond issues to be far less than that.

Public Comment and Testimony
There being none, the next item followed.

Consideration of Resolution 2018-01
Mr. d'Adesky stated the resolution, which is subject to the public hearing is confirming and authorizing, equalizing and approving, levying special assessments up to the amount ofthe value ofthe project and not to exceed $13 million but the first issuance is only estimated to be
$3.3 million. It approves both the engineer's report and methodology, it gives that estimate of cost, authorizes the project, provides for the assessment to be collected via the methods in Chapter 190, 197, which is through direct collection or through the tax bill.

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October 11, 2017	Westside Community Development District

Mr. Dady stated this is the first bond issue and it is citing Solara Phase 1 and Solara Phase 2. Are the bond proceeds going to be spread onto both phases or is it a single phase?
Mr. Machado stated the way it is worded it is just Phase 1 for right now.
Mr. Showe stated by setting that ceiling at this level we can issue multiple series ofbonds underneath that cap as long as they apply to Phases 1 and 2.
Mr. d'Adesky stated at this point I think we have discussed three separate issuances.
Mr. Eckloffstated we are looking at three phases, the first phase is 2017, the second was 2020 and the third was 4024. We can make adjustments later on but initially that is what we have.
Mr. Dady asked is it strictly infrastructure on the bonds or are you financing any ofthe
amenities?
Mr. Abel responded just infrastructure.

On MOTION by Mr. Abel seconded by Mr. Stewart with all in favor Resolution 2018-01 was approved.

On MOTION by Mr. Abel seconded by Mr. Stewart with all in favor the public hearing was closed.

FIFTH ORDER OF BUSINESS	Consideration	of Toho	Water Authority
Maintenance Bond
Mr: Showe stated the item is listed as consideration of Toho Water Authority
maintenance bond and unfortunately in the last few days we were hit with an additional cost that is going to be required to complete that project. The Board previously approved a not to exceed amount of $60,000 and with the latest change order we are looking at a total of $73,546. We would like the Board to approve an additional $15,000.
Mr. Machado stated this is the last connection and the reason for this change order is once the contractor exposed the area the pipes were much deeper than what was shown on the plans. It requires additional dewatering and additional work; the sidewalk needs to be removed and replaced. There is additional work that needs to be done in order to dig down to that depth to make that connection.
Mr. Dady stated so it is the contractor and not Toho who is adding the additional money. Mr. Machado stated correct.

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October 11, 2017	Westside Community Development District

On MOTION by Mr. Abel seconded by Mr. Dady with all in favor an additional not to exceed amount of $20,000 was approved for the contract to convert the irrigation line to a reuse line.

Mr. Showe stated the second part ofthis is to complete that project we do have to submit some fees to Toho. There is an inspection fee and a 10% maintenance bond fee. We were looking at getting a bond for that but the District does have over $200,000 in the capital reserve fund and we thought it best to not incur any additional costs for the District. We can post a 10% cash bond to Toho and get it returned at no cost to the District.
Mr. Abel asked is that one year or two years? Mr. Machado responded one year.

SIXTH ORDER OF BUSINESS	Consideration of Agreement with Berger,
Toombs, Elam, Gaines & Frank to Provide Auditing Services for Fiscal Year 2017
Mr. Showe stated earlier this year the Board met as the Audit Committee and selected
this firm as the no. 1 ranked firm and this agreement is in line with that proposal that was approved by the Board and it is under what we budgeted because we didn't have the numbers at that time.

On MOTION by Mr. Dady seconded by Mr. Abel with all in favor the engagement letter with Berger Toombs to perform the Fiscal Year 2017 audit was approved.

SEVENTH ORDER OF BUSINESS
Attorney

Staff Reports

There being none, the next item followed.

Engineer
There being none, the next item followed.

Manager
Approval of Check Register

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October 11, 2017	Westside Community Development District

On MOTION by Mr. Abel seconded by Mr. Stewart with all in favor the check registers were approved.

Balance Sheet and Income Statement
A copy ofthe balance sheet and income statement were included in the agenda package.

Discussion of Direct Bill Status
A copy ofthe direct bill status was included in the agenda package.

EIGHTH ORDER OF BUSINESS
There being none,

Supervisor's Requests

On MOTION by Mr. Abel seconded by Mr. Stewart with all in favor the meeting adjourned at 11:18 a.m.

Chairman/Vice Chairman

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