MINUTES OF MEETING CYPRESS PARK ESTATES
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Cypress Park Estates Community Development District was held Monday, November 9, 2020 at 11:00 a.m. at 1925 US Hwy 98 S., Suite 201, Lakeland, FL.

Preseqt and constituting a quorum:

Scott hapiro via phone
Allan Keen Hyzens Marc Steve Rosser

Also present were:

Jill Burns
Sarah Warren via phone Emma Gregory via phone Rodney Gadd
Ashton Bligh via phone

FIRST ORDER OF BUSINESS

Chairman  Assistant Secretary Assistant Secretary Assistant Secretary

District Manager, OMS Hopping Green & Sams Hopping Green & Sams
Engineer GTLaw

Roll Call

Ms. BUllls called the meeting to order and called the roll. There were three supervisors physically present constituting a quorum.

SECOND  ORDER OF BUSINESS	Public Comment Period
Ms. Burns noted that no members of the public were present to provide comments.

THIRD ORDER OF BUSNESS	Approval Qfthe Minutes of the October 27,
2020 Board of Supervisors and Audit Committee M;eeting
Ms. Burns asked for any questions, comments, corrections to the October 27, 2020
meeting minutes. The Board had no changes.

On MOTION by Mr. Keen, seconded by Mr. Rosser, with all in favor, the Minutes of the October 27, 2()20 Board of Supervisors Meeting  and  Approval  of the  October- 27,     2020  Audit  Committee Meeting, were approved.

FOURTH ORDER OF BUSINESS	Presentation of Supplemental Engineer's
Report
Mr. Gadd stated that it has not changed since the previous presentation.

On MOTION by Mr. Rosser, seconded by Mr. Keen, with all in favor, the Supplemental Engineer's Report, was approved.

FIFIB ORDER OF :BUSINESS	Presentation of Supplemental Assessment
Methodology (Series 2020, AAl and AA2)
Ms. Burns stated this report had changed a 11.ttle. It is based on tlle final pricing that was circulated. The rest of the items are the same. Ms. Burns explained that the Supplemental Methodology supplements the Master Assessment Methodology that was issued in December of 2019. This assessment report allocates the debt to the properties based on the benefits that they
receive from the Phase 1 and Phase 2 capital improvements. She reviewed the breakdown and tables attached to the agenda.

On MOTION by Mr. Rosser, seconded by Mr. Marc, with all in favor, the Supplemental Assessment Methodology (Series  2020, AAl and AA2), was approved.

SIXTH ORDER OF BUSINESS	Presentation of Supplemental Assessment
Resolutions (Series 2020, AAl and AA2)
Consideration of Resolution 2021-01 Supplemental Assessment Resolution (Series
2020AA1)
Ms. Burns stated that this resolution is for Assessment Area 1. It sets forth the terms of the bonds issued by the District and applies the adopted Special Assessment Methodology that was discussed above to the actual scope ofthe project to be completed with the series of bonds and the terms of this bond issue. She noted the bond pricing was attached as an exhibit.

On MOTION by Mr. Keen, seconded by Mr. Marc, with all in favor, Resolution 2021-01 Suppletrlental Assessment Resolution (Seri s 2020 AAI), was approved.

Consideration of Resolution 2021-02 Supplemental Assessment Resolution (Serles
2020 AA2)
Ms. Burns stated this is the exact same thing as above but for Assessment Area 2 bonds. She noted the terms of the bond issuance are attached to the resolution, but the resolution is the same.

On MOTION by Mr. Rosser, seconded by ·Mr, Marc; with all in favor, Resolution 2021-01 Supplemental Assessment Resolution (Series 2020 AA2), was approved.

SEVENTH ORDER OF BUSINESS	Con$ideration of Series 2020 Developer
Agreements (AAl)
Ms. Burns stated items 7 and 8 are the exact same sets of agreements. One is for Assessme.nt Area 1 and one is for Assessment Area 2. The explanations will be the same for both.

Acquisition Agreement
Ms. Burns stated thi is KRPC East Johnson, LLC and in order to not delay the commencement of the development of the project the landowner has previously advanced  funds  or comp eted certain work. This agreemept states that the District would like to acquire any of those portions of work that were incomplete or accept assignment of any agreements related to the project.
Mr. Shapiro confirmed this is consistent with previous issuanc.es  and what has been seen  so far on draft documents. Ms. Warren stated that these are very standard documents for any CDD issuance of bonds. She stated one motion can be done for Assessment Area 1 documents and then one motion for Assessment Area 2 documents.

Completion Agreement
Ms. l3urns stated this is also KRPC East Johnson, LLC but the la11.downer requested that the District limit the amount of Assessment Area 1 artd Assessment Area 2 onds that are going to be issued until the landowner agrees to provide the funds to the District to complete the portion of

the Assessment Area 1 or Assessment Area 2 project that's set forth in the engineers report. This will not be funded with the proceeds of that series of bonds.

Collateral Agreement
Ms. Burns stated this is also with KRPC Ea.st Johnson, LLC and in the event of default of the payment of the Assessment Area 1 special assessments or Assessment Area 2 that the developer will assign certain development rates in or.der for it to enable the District or a 3rd party to complete the development of the Assessment Area 1 projects.

True-Up Agreement
Ms. Burns stated this agreement outlines that the landowner and the District desire to enter into an agreement to confirm the landowner_s iptent and obligation if required to make a true up payment related to the Assessment Area 1 or Assessment Area 2 special assessments.

Declaration of Consent
Ms. Burns stated this agreement states that the landowner confirms and agrees that all the proceeding undertaken by the District have been in compliance with Florida Law and that the District has taken all action necessary to levy and impose the Assessment Area 1 special assessments or Assessment Area 2 special assessments and that the assessments are legal, valid, and binding and force liens upon the assessment area.

Notice of Assessment Area 1 Special A sessments
Ms. Burns stated this is a document that wil1 be recorded to notify potential property owners of the assessments on the property.

On MOTION by Mr. Keen, seconded by Mr. Rosser; with all in favor, the Series 2020 Developer Agr.ee,ments (AAl), was approved. .

Ms.	Warren noted for the record that the District doesn't deal directly with the builder.
Documents and recordings can be found in title se.arches.

EIGHTH ORDER OF BUSINESS	Consideration of Series 2020 Developer
Agreement (AA2)
Acquisition Agreement
Completion Agreement
Collateral .Agreement
True-Up Agreement
Declaration of Consent
Notice of Assessment Area 2 Special Assessments
The agreements were the same as explained above but for Assessment Area 2

On MOTION by Mr. Rosser, seconded by Mr. Keen, with all in favor, the Series 2020 Developer Agreements (AA2), was approved.

NINTH ORDER OF BUSINESS	Consideration of Temporary Construction
and Access Easement Agreement
Ms. Burns stated that Sarah is working on drafting this. It is an agreement that the District will enter into with the lan<;lowne.r that will allow the District to complete the construction that is outlined in the engineers report. It allows access to the property.
Ms. Warren stated the plan is to have an easement over both Phases 1 and 2. She noted once the District's construction is complete the easement by its own terms terminates.

on MOTION by Mr. Rosser, seconded by Mr. Marc, with all in favor, the Tempqrary Construction and Ac ess Easement .t\.greement and Authorization for the Chair to sign the Agreement, was approved.

TENTH ORDER OF BUSINESS	Assignments of Contracts from KR.PC
East Johnson, LLC to Cypress Park Estates CDD
BlueOx
Jon M. Hall Company, LLC
Transportation InJrastr:ucture Improve ent
Haines  Citr Wastewater Sys!em	.
Ms. Burns stated items A and B are construction contracts. Items C and b are in the agenda package'. She noted Sarah is drafting the assignment agr ement and once those are e;icettited, they will be looking for authority for the Chair to execute the actual assignments for the contracts that are being signed.

Ms. Warren confirmed that one motion was fine. She also stated that the Chair or Vice Chair can be authorized to execute on behalf of the district. Ms. Warren understands that there are some very specific terms to work through and part of the reason for authorizing the Chair or Vice Chair to execute those assignment packages once complete, is so that they can be reviewed.

011 MOTION by Mr..K.een, seconded by fylr. Rosser, with all in
favor, the Assignments of Contracts from KRPC East Johnson, LLC to Cypress Park Estates COD, was approved.

ELEVENTH ORDER OF BUSINESS	Staff Reports
Attorney
Ms. Warren had nothing specific. Executive orders are being monitored and she is hoping for a reinstatement of the quorum waiver. She noted she will keep everyone posted,

Engin er
There being none, the next item followed.

District Manager's Report
Ms. Bums had nothing additional. The preclosing was on Thursday and all the bond documents were signed. It will be funded on the 12th• She noted US Bank processes all the payments directly to the payee. All the general fund expenses come from, the GMS office, and all the construction funds comes from the trustees account at US Bank.

TWELTH ORDER OF BUSINESS	Other Business
Ms. Burns stated there is a meeting scheduled in two weeks on the 24th. No one had any business to discuss and the meeting on November 24th was cancelled.

THiRTEENTH  ORDER OF BUSINESS	Supervisors	Requests	and	Audience
Comments
There peing none, the nex,t item followed.

FOURTEENffl ORDER OF BUSINESS
Ms. Burns adjourned the meeting.

Adjournment

On MOTION by Mr. Rosser, seconded by Mr. Marc, with all in
favor, the meeting was adjourned.