MINUTES OF MEETING RANCHES AT LAKE MCLEOD
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Ranches at Lake McLeod Community Development District was held on Tuesday, February 11, 2025 at 10:03 a.m. at the Lake Alfred Public Library, 245 N Seminole Ave., Lake Alfred Florida.
Present and constituting a quorum were:

Adam Morgan	Chairman
Rob Bonin	Vice Chairman
Brent Kewley	Assistant Secretary
Michelle Dudley joined late	Assistant Secretary
Kayla Word	Assistant Secretary

Also present were:

Tricia Adams	District Manager, GMS
Monica Virgen	District Manager, GMS
Allen Bailey	Field Services, GMS
Mark Watts by Zoom	District Counsel, Cobb Cole
Steve Sanford by Zoom	Bond Counsel, Greenberg Traurig
Rick Welch by Zoom	District Engineer, Prime AE Engineering
Eduardo Rodas	HOA Manager

The following is a summary of the discussions and actions taken at the February 11, 2025 Ranches at Lake McLeod Community Development District’s Board of Supervisors meeting.
FIRST ORDER OF BUSINESS	Roll Call
Ms. Adams called the meeting to order and called the roll. Four Board members were present constituting a quorum.

SECOND ORDER OF BUSINESS	Public Comment Period on Agenda Items
Ms. Adams opened the public comment period regarding agenda items only. There being no comments, the next item followed.

THIRD ORDER OF BUSINESS	Approval of Minutes of the November 12,
2024 Board of Supervisors Meeting

Ms. Adams presented the minutes from the November 12, 2024 Board of Supervisors meeting and asked for any comments, corrections, or changes. The Board had no changes to the minutes.

On MOTION by Mr. Morgan, seconded by Ms. Word, with all in favor, the Minutes of the November 12, 2024 Board of Supervisors Meeting, were approved.

*Michelle Dudley joined the meeting in person at 10:06 a.m.

FOURTH ORDER OF BUSINESS	Presentation	and	Consideration	of
Supplemental Engineer’s Report dated February 10, 2025
Mr. Welch presented the supplemental engineer’s report dated February 10, 2025. He explained that they sold their firm and are in the process of updating their engineer’s contract. Ms. Adams stated they have started to receive comments from staff that will be incorporated into the final version. Staff asked for approval in substantial form.

On MOTION by Mr. Morgan, seconded by Ms. Dudley, with all in favor, the Supplemental Engineer’s Report dated February 10, 2025 , was approved in substantial form.

FIFTH ORDER OF BUSINESS	Presentation	and	Consideration	of
Supplemental Assessment Methodology Report for Assessment Area Two dated February 11, 2025
Ms. Adams noted this item circulated very late in the day and they didn’t get the bond sizing until 4:30 p.m. the day prior to the meeting. She explained that they have already started to receive comments from staff. She stated that they would be looking at this for approval in substantial form subject to future revisions.
Ms. Adams explained that this Supplemental Assessment Methodology looks at all of the eligible improvements that were identified in the engineer’s report, it identifies the amount of financing, and it addresses how that cost will be shared fairly by the properties that benefit from those expenses.

Ms. Adams reviewed the tables that started on page 30 of the agenda package. Table 1 shows that for Assessment Area Two there is 753 total units. She added that they are still verifying lot counts and product types. Table 2 shows the infrastructure cost estimates. She explained that this table is identifying all the eligible expenses for the public financing with the total improvements being $48,411,698. Table 3 shows the bond sizing with the par amount being
$11,130,000. Table 4 shows the benefit that these properties receive and how that is allocated per product type. Table 5 shows the par debt per unit. For the 40’, the par debt per unit is
$12,186.47. For the 50’, the par debt per unit is $15,250.91. For the 60’, the par debt per unit is
$18,286.84. She explained that in order to reach the targeted assessment level, they are recognizing developer contributions. Table 6 shows the gross amount that will be on the property tax bill as well as how that can be discounted if property owners pay their bill in November.

On MOTION by Mr. Morgan, seconded by Ms. Dudley, with all in favor, the Supplemental Assessment Methodology Report for Assessment Area Two dated February 11, 2025, was approved in substantial form subject to future revisions.

SIXTH ORDER OF BUSINESS	Consideration	of	Resolution	2025-02
Delegation Resolution (Series 2025 – Assessment Area Two Bonds)
Mr. Sanford from Greenberg Traurig is serving as the District’s Bond Counsel, and he presented Resolution 2025-02. He explained that they are calling this resolution the Delegation Resolution because if the Board adopts this resolution, there are certain parameters within the resolution that if they stay within those parameters set by the Board, then the Chairman or Vice Chairman is authorized to sign a bond purchase contract without the need of coming back for any kind of special meeting. He further explained that along those same lines, there is authorization in this resolution for any kind of modifications to the documents approved in substantial form, they are authorized to finalize those documents without the need of calling a special meeting. The parameters Mr. Sanford mentioned is that they are authorizing a principal amount of bonds for Assessment Area Two not exceeding $13,000,000. He added that does not bind the Board to issue that amount of bonds, it is the maximum amount that could be issued. The other parameters are that the term of the bonds can’t exceed 30 years as governed by Florida Statutes, not counting any capitalized interests. The maximum interest rate is also governed by Florida Statutes. He

noted the underwriters discount is 98%, which means they buy the bond from the District at a discount of 98% and turn around and sell the bonds at par. He explained that as long as they are within all those parameters that are set forth in Section Three, then there is no need to come back to the Board to get all of the final documents executed and delivered. He discussed the exhibits attached to this resolution. Mr. Morgan pointed out that the resolution has the name “Ranches at McLeod”, but it should be “Ranches at Lake McLeod.” The Board agreed to adopt this resolution with the name correction.

On MOTION by Mr. Morgan, seconded by Ms. Dudley, with all in favor, the Adopting Resolution 2025-02 Delegation Resolution (Series 2025 – Assessment Area Two Bonds) with the Name Correction, was approved as amended.

SEVENTH ORDER OF BUSINESS	Consideration  of  Underwriter  Services
Agreement for Series 2025 Bonds with FMS Bonds
Ms. Adams stated on page 241 of the agenda package is a letter from FMS Bonds dated February 7, 2025. She stated approval of this letter is considering FMS Bonds for underwriting services for the Series 2025 Bonds. She added that this is the standard form of agreement for the underwriter services.

On MOTION by Mr. Morgan, seconded by Ms. Dudley, with all in favor, the Underwriter Services Agreement for Series 2025 Bonds with FMS Bonds, was approved.

EIGHTH ORDER OF BUSINESS	Ratification  of  License  Agreement  for
Installation of Holiday Decorations with Ranches at Lake McLeod Community Association, Inc.
Ms. Adams explained that they were approached by the Homeowners Association for Ranches at Lake McLeod and they requested that the association be allowed to install holiday decorations onto District property. She pointed out that this was a time sensitive request that came early in December. She stated ultimately the Chairman of the Board did approve this request and he signed the agreement with all the protections for the District assigning the

responsibility to install, maintain, and remove the holiday decorations to the association. She added that this is just a motion to ratify the agreement and protect the actions of the Chairman.

On MOTION by Mr. Morgan, seconded by Ms. Word, with all in favor,	the	License		Agreement	for	Installation	of	Holiday Decorations		with	Ranches	at		Lake	McLeod		Community Association, Inc., was ratified.

NINTH ORDER OF BUSINESS	Ratification  of  TraceAir  Proposal  for
Drone Flyovers, Data Processing & Cloud Software Subscription
Ms. Adams explained that at their last meeting, they were reviewing the proposals from TraceAir and the proposal the Board approved was for one scan between January and February. Then, once the 2025 bond is issued, there will be additional funding for services that can start biweekly. She further explained that this is just ratifying the agreement for the one-time flight at
$2,550 that will be paid out of remaining bond funds.

On MOTION by Mr. Morgan, seconded by Ms. Dudley, with all in favor, the TraceAir Proposal for Drone Flyovers, Data Processing & Cloud Software Subscription, was ratified.

TENTH ORDER OF BUSINESS	Consideration of 2025 Data Sharing and
Usage Agreement with Polk County Property Appraiser
Ms. Adams stated this agreement is included in the agenda package on page 255. She explained that this is an annual agreement with the property appraiser whereby the District is agreeing that all of the data that Polk County holds exempt from public records discloser. She noted they would hold that same information exempt from disclosure. She added that this is an administrative matter and staff recommends approval.

On MOTION by Mr. Morgan, seconded by Ms. Dudley, with all in favor, the 2025 Data Sharing and Usage Agreement with Polk County Property Appraiser, was approved.

ELEVENTH ORDER OF BUSINESS	Consideration	of	2025	Contract
Agreement with Polk County Property Appraiser
Ms. Adams explained that this agreement is also with Polk County Property Appraisers office. She further explained that this contract agreement allows them to put the CDD fees in the non-ad valorem section of the annual property tax bill in accordance with Florida Statutes.

On MOTION by Mr. Morgan, seconded by Ms. Dudley, with all in favor, the 2025 Contract Agreement with Polk County Property Appraiser, was approved.

TWELFTH ORDER OF BUISNESS	Staff Reports
Attorney
Mr. Watts had nothing additional to report.

Engineer
Consideration of Assignment of District Engineering Services Agreement
Ms. Adams presented the District Engineering Services Agreement. She explained that this District has been working under an interim engineering agreement with Rick Welch’s firm. She noted that as of January 1, 2025 that firm has been acquired by PRIME AE Group, Inc. She noted they have prepared a standard form of engineering agreement, and it has been reviewed by District Counsel, Mr. Watts.
Mr. Watts stated they reviewed the draft agreement, and he would recommend approval of it in substantial form so they can finalize it with the District Engineer, Mr. Welch. He explained that this was something that came up when they were putting together an assignment of the prior agreement, and they didn’t realize that the final agreement was never executed, and they were still operating under the interim agreement. He stated they recommended approval in substantial form, and he was happy to answer any questions.

On MOTION by Mr. Morgan, seconded by Ms. Dudley, with all in favor, the Assignment of District Engineering Services Agreement, was approved in substantial form.

Field Manager’s Report
Mr. Bailey presented the field manager’s report. He stated they reported the sidewalk area where the ADA mats were laid to Lennar and that has been fixed. They haven’t had any complaints since it has been fixed. He stated they installed monument lights over the holiday season to help people coming off the road at night seeing the monuments. He noted the Ranches East landscape is rooting and maintaining a healthy appearance through the cold snap and it is ready for turnover. He stated the tower of Ranches East has been completed and turned over. He added that it looks good and so far, everyone has liked it. Lastly, he noted the District fences are back up in Ranches north. Mr. Morgan asked how the ponds looked in the north. Mr. Bailey responded that they were doing alright, but he brought the aquatic addendum to add those because he would like to get them under the contract to say that they are being maintained. He pointed out that the ponds are a little low. Mr. Bonin noted he needs written acceptance of every hardscape item on CDD property, and the well is the latest that he doesn’t have acceptance of. He stated he would like an official third-party specialist to check the viability of it for acceptance. Mr. Welch will make a note of this item and will report back to the Board. Ms. Adams stated once that improvement is conveyed to the District, they will also need to add that to their property insurance. Mr. Watts stated if they can get a copy of the agreement for the installation of the well, they can prepare an assignment that will be acknowledged by the well contractor and have that come along with a bill of sale for the improvements after the inspection has been certified as complete and the third-party reviewer has confirmed it’s functioning as designed.

Consideration of Addendum from Aquatic Weed Management, Inc. to Add Ranches at Lake McLeod CDD East Area Ponds to Current Aquatic Maintenance Services Contract
Mr. Bailey presented this addendum to add two east area ponds to the current Aquatic Maintenance Service Contract. He explained that it is starting to warm up and he would like to have the ponds being treated on a regular monthly basis to avoid any algae growth. The cost is an extra $600 a month to do those two larger east area ponds.

On MOTION by Mr. Morgan, seconded by Ms. Dudley, with all in favor, the Addendum from Aquatic Weed Management, Inc. to Add Ranches at Lake McLeod CDD East Area Ponds to Current Aquatic Maintenance Services Contract, was approved.

Ms. Adams noted that they have Eduardo Rodas on the line who is the Home Owners Association Manager at Ranches, and he has been doing a great job communicating with Mr. Bailey when he sees any maintenance issues for the CDD as well as communicating with herself on any issues. She thanked Mr. Rodas for being so communicative.

District Manager
Approval of Check Register
Ms. Adams presented the check register from November 2, 2024 to February 3, 2025 totaling $49,870.69.

On MOTION by Mr. Morgan, seconded by Ms. Dudley, with all in favor, the Check Register, was approved.

Balance Sheet and Income Statement
Ms. Adams presented the unaudited financials through the end of December. No action is required from the Board.

Project Development Update
Status of Property Conveyance
Status of Permit Transfers
Mr. Watts stated they were up to date on the conveyances at this point with the exception of the well that was just mentioned. Mr. Bonin requested a physical copy of the permit transfer for the well so they can confirm that the allowed usage matches the recommended usage by the landscaper.
Ms. Adams stated they have a note to check on the status of construction funds and requisitions. She pointed out that on the combine balance sheet, they have a very small amount in their capital projects fund from their funds generated for infrastructure construction. She explained that once they submit the requisition for TraceAir, that will be down to zero.

THIRTEENTH ORDER OF BUSINESS	Other Business
There being no comments, the next item followed.

FOURTEENTH ORDER OF BUSINESS	Supervisor’s	Requests	and	Audience
Comments
Akhmed Ismael (1530 Marksman Road) commented on the sidewalks damaged by park. He asked what the well supplied water to.
Terri Hoff (Deep Water Circle) commented that this is her first time joining a meeting and she wanted to find out more information about what is going on here at Ranches at Lake McLeod.
There was a request for the Board’s consideration for lots 32 and 33 to be purchased by the CDD to be used for common space. Ms. Adams stated the CDD does not have any funds designated to purchase residential lots for any purpose.

FIFTEENTH ORDER OF BUSINESS	Adjournment

Secretary / Assistant Secretary

Ms. Adams asked for a motion to adjourn the meeting.

On MOTION by Mr. Morgan, seconded by Ms. Dudley, with all in favor, the meeting was adjourned.

Chairman / Vice Chairman