MINUTES OF MEETING ELEVATION POINTE
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Elevation Pointe Community Development District was held Friday, August 27, 2021 at 9:30 a.m. at the Offices of OMS-NF, LLC, 475 West Town Place, Suite 114, St. Augustine, Florida.

Present and constituting a quorum were:

Owais Khanani by phone
Shaman Foradi Michael Rich Jawaad Khanani
Kristin Banks by phone

Also present were: Jim Oliver
Sarah Sandy by phone
Brian Deitsch by phone

FIRST ORDER OF BUSINESS

Chairman
Vice Chairman Assistant Secretary Assistant Secretary Assistant Secretary

District Manager District Counsel District Engineer

Roll Call

Mr. Oliver called the meeting to order and called the roll. Three Board members were physically present constituting a quorum. Two members were present via phone.

SECOND ORDER OF BUSINESS	Public Comment Period
Mr. Oliver noted that only Board members and staff were present at the meeting. The next item followed.

TIDRD ORDER OF BUSNESS	Organizational Matters
A. Administration of Oaths of Office to Newly Elected Board Members
Mr. Oliver stated that they would administer the oath to Supervisor Kristen Banks at a later time.
FOURTH ORDER OF BUSNESS	Approval of Minutes of July 23, 2021
Meeting

Mr. Oliver presented the minutes of the July 23, 2021 meeting and asked for any comments, corrections, or changes to the minutes. The Board had no changes to the minutes.

On MOTION by Mr. Rich, seconded by Mr. Foradi, with all in favor, the Minutes from the July 23, 2021 Board of Supervisors Meeting, were approved.

FIFTH ORDER OF BUSINESS	Acceptance	of	Audit	Committee
Recommendation and Selection of #1 Ranked Firm to Provide Auditing Services for Fiscal Year 2021
Mr. Oliver stated that the Audit Committee had ranked the proposal they had received, and he recommended that the Board make a motion to approve.

On MOTION by Mr. Rich, seconded by Mr. Foradi, with all in favor, the Audit Committee Recommendation and Selection of# 1 Ranked Firm Grau & Associates to Provide Auditing Services for Fiscal Year 2021, was approved.

SIXTH ORDER OF BUSINESS	Public Hearing
Mr. Oliver stated that he would discuss the budget with the Board members before moving on to the Public Hearing. He presented the budget, starting with the general fund under tab #6, followed by the budget itself for a total of $75,000 for Fiscal Year 2021 and $122,000 for Fiscal Year 2022. He noted that the developer would fund what was executed, not the entire budget amount if the budget was not fully spent. He asked if there were any questions, and hearing none, Mr. Oliver asked for a motion to open the public hearing.

On MOTION by Mr. Rich, seconded by Mr. Foradi, with all in favor, Opening the Public Hearing, was approved.

Mr. Oliver asked for a motion to close the public hearing.

On MOTION by Mr. Rich, seconded by Mr. Foradi, with all in favor, Closing the Public Hearing, was approved.

A. Consideration of Resolution 2021-33 Adoption the Fiscal Year 2022 Budget and Relating to the Annual Appropriations
Ms. Sandy presented the budget and noted that the resolution provided for a mechanism to have the budget amended throughout the year. Mr. Rich asked if the leftover funds from the previous year rolled over automatically to the next fiscal year, and Mr. Oliver responded that the budget was maintained by the District and that there should not be any excess funds.

On MOTION by Mr. Rich, seconded by Mr. Foradi, with all in favor, Resolution 2021-33 Adoption of the Fiscal Year 2022 Budget and Relating to the Annual Appropriations, was approved.

SEVENTH ORDER OF BUSINESS	Consideration of Fiscal Year 2022 Budget
Funding Agreement
Ms. Sandy explained that the agreement was between the District and the developer. She noted that in lieu of levying assessments to fund the budget, the developer agreed to pay the actual cost of the District instead. She asked if there were any questions, and Mr. Foradi asked if the budget was self-funded once the bonds were issued, and Ms. Sandy responded that the bonds were intended to fund the capital improvement plan, but that in terms of the O&M budget, the costs were part of the District's annual budget and would be funded through different mechanisms such as the funding agreement. She then asked for a motion to approve.

On MOTION by Mr. Foradi, seconded by Mr. Rich, with all in favor, the Fiscal Year 2022 Budget Funding Agreement, was approved.

EIGHTH ORDER OF BUSINESS	Financing Matters
Consideration of Engineer's Report
Mr. Deitsch presented the Engineer's Report, noting that the CDD included everything from townhomes to roadway improvements, utilities, amenities, and areas for future commercial property. He explained that at the time they recorded the estimates for the improvements, they were given soft costs. He also noted a table within the report that outlined the owner of maintenance of the different entities with a portion of the infrastructure being the CDD and St. Johns County, and other portions like amenities and hardscaping being the responsibility of the CDD. Ms. Sandy asked her required questions for the record, such as if the improvements provided

a special incentive to the lands within the District, if the costs of the projects were the size of the scope, to which he answered yes.

Consideration of Assessment Methodology
Mr. Oliver highlighted the narrative section as well as the series of tables behind the narrative. He explained that the purpose of the report was to allocate the debt that was incurred by the District to the benefitting properties within the District. He also pointed out page 5 which listed the requirements of valid assessment methodologies, as well as page 7 which stated that the duty to pay the special assessments was fairly and reasonably apportioned. He turned back to the first page, presenting the series of tables including the development program, the infrastructure cost estimates, the bond sizing totaling a par amount of$16.7 million, and the allocation of benefit. He asked if there were any questions, and hearing none, Ms. Sandy asked her required questions. She asked if the lands received special benefit based on the report, as well as if the assessment was reasonably and fairly allocated, to which Mr. Oliver answered yes.

Consideration of Resolution 2021-34 Levying Assessments
Ms. Sandy presented the resolution, noting that it made certain findings regarding the District's authority to finance funds and establish capital improvements as well as the authority to levy and impose special assessments. She also noted it authorized the project in the Engineer's Report and equalized, confirmed, and levied the master assessments as laid out in the assessment report. She added that it laid out a true-up payment methodology as well. She asked if there were any questions, and hearing none, Mr. Oliver asked for a motion to open the public hearing.

On MOTION by Mr. Rich, seconded by Mr. Foradi, with all in favor, Resolution 2021-34 Levying Assessments, was approved.

NINTH ORDER OF BUSINESS	Consideration of Construction Funding
Agreement
Ms. Sandy presented the agreement providing that the developer would provide the finds to complete construction until the point in time that the District has the funding sufficient enough to cover construction costs, adding that all costs paid by the developer would be refunded through the bonds. She asked for a motion to approve.

On MOTION by Mr. Rich, seconded by Mr. Foradi, with all in favor, the Construction Funding Agreement, was approved.

TENTH ORDER OF BUSINESS	Consideration	of	Assignment	of
Construction Contract
Ms. Sandy presented the contract to the Board, noting that it was negotiated with the developer and was intended to be executed, as well as that it was intended that the developer would assign the contract over to the District so that the District could administer the contract. She asked for a motion to approve in substantial form.

On MOTION by Mr. Rich, seconded by Mr. Foradi, with all in favor, the Assignment of Construction Contract, was approved in substantial form.

ELEVENTH ORDER OF BUSINESS	Consideration	of	Resolution	2021-35
Direct Purchase Authorization
Mr. Oliver noted that the resolution gave the District authorization to make purchases from suppliers on a tax-exempt basis.
Ms. Sandy presented the resolution, adding that the District needed to have certain policies and procedures ahead of making any direct purchases using the tax exemption, which were included in the agenda package. She asked if there were any questions, and hearing none, asked for a motion to approve.

On MOTION by Mr. Rich, seconded by Mr. Foradi, with all in favor, Resolution 2021-35 Direct Purchase Authorization, was approved.

TWELTH ORDER OF BUSINESS	Staff Reports
Attorney
Ms. Sandy did not have anything further to report.

August 27, 2021	Elevation Pointe COD

Engineer
Mr. Deitsch did not have anything further to report other than they were going through permitting with the County with pieces of the CDD.

District Manager's Report
Balance Sheet and Income Statement
Mr. Oliver presented the unaudited financials through July 3l5t, 2021. No action was required, but Mr. Oliver offered to answer any questions from the Board.

Ratification of FY2021 Funding Request #7
Mr. Flint noted that Funding Request #7 was transmitted to the developer under the funding agreement, with a total of $7,289.37.

On MOTION by Mr. Foradi, seconded by Mr. Rich, with all in favor, the FY2021 Funding Request #7, was ratified.

Approval of Fiscal Year 2022 Meeting Schedule
Mr. Flint stated that the schedule was on a monthly basis, noting that there were different dates and times for the November and December meetings. He also added that even though they had 12 meetings scheduled, they could always continue meetings or cancel meetings.
Mr. Foradi requested they move the November meeting to the morning, and the "Board agreed to move the November 19th meeting at 9:30 a.m.

On MOTION by Mr. Foradi, seconded by Mr. Rich, with all in favor, the Fiscal Year 2022 Meeting Schedule, was approved.

TIDRTEENTH ORDER OF BUSINESS
There being none, the next item followed.

FOURTEENTH ORDER OF BUSINESS
There being none, the next item followed.

Other Business

Supervisors Requests

August 27, 2021	Elevation Pointe CDD

FIFTEENTH ORDER OF BUSINESS
Mr. Flint adjourned the meeting.

Adjournment

On MOTION by Mr. Rich, seconded by Mr. Foradi, with all in favor, the meeting was adjourned.

Secretary/Assistant Secretary

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