Grove Resort Community Development District
12051 Corporate Boulevard, Orlando, FL 32817; 407.723.5900
www.groveresortcdd.com

The following is the proposed agenda for the Board of Supervisors meeting of the Grove Resort Community Development District (“District”), scheduled to be held in the Duval Board Room at 14501 Grove Resort Avenue, Winter Garden, Florida 34787 on Tuesday, July 13, 2021 at 10:00 a.m. The attendance of three Board Members is required to constitute a quorum.
To attend the meeting, please use the below conference call information: Phone:	1-844-621-3956
Access Code:	790 393 986 #

PROPOSED BOARD OF SUPERVISORS’ MEETING AGENDA

Administrative Matters
Roll Call to Confirm Quorum
Public Comment Period [limited to items on the agenda]
Consideration of Minutes of the June 8, 2021 Board of Supervisors Meeting Business Matters
Public Hearing on the Adoption of the Fiscal Year 2021/2022 Budget
Public Comments and Testimony
Board Comments
Consideration of Resolution 2021-06, Adopting the Fiscal Year 2021/2022 Budget and Appropriating Funds
Consideration of Resolution 2021-07, Adopting an Assessment Roll for the Fiscal Year 2021/2022 and Certifying Special Assessments for Collection
Consideration of Fiscal Year 2021/2022 Partial Budget Funding Agreement between the District and Grove Resort and Spa, LLC (provided under separate cover)
Consideration of Public Facilities Report (provided under separate cover)
Consideration of 2017 B1 Bond Series Prepayment Balance
Ratification of Payment Authorizations Nos. 130 - 133
Review of District’s Financial Position
Other Business
Staff Reports
District Counsel District Engineer District Manager
Upcoming Meetings: July 20, 2021
August 10, 2021

Supervisor Requests
Public Comment Period
Adjournment

Grove Resort Community Development District

Minutes

GROVE RESORT COMMUNITY DEVELOPMENT DISTRICT

BOARD OF SUPERVISORS MEETING MINUTES

FIRST ORDER OF BUSINESS	Call to Order and Roll Call

The Board of Supervisors Meeting for the Grove Resort Community Development District was called to order on Tuesday, June 8, 2021 at 10:00 a.m. in the Duval Board Room at 14501 Grove Resort Avenue, Winter Garden, Florida 34787.
Board Members listed below constituted a quorum: Kevin Mays	Board Member
Michael Osborn	Board Member
Phil Vargas	Board Member Also in attendance were:
Jane Gaarlandt	PFM		
Christina Hanna	PFM	(via phone)	
Kevin Plenzler	PFM	(via phone)	
Mike Eckert	Hopping Green & Sams	(via phone)	
Rob O’Connor	Paramount Hospitality		
Robert Haywood	Paramount Hospitality	(via phone)	
Briana Wilson	Grove Resort		
Omar Pastrana	Grove Resort		
Helen Ashford	BTI	(via phone)	

SECOND ORDER OF BUSINESS	Administrative Matters Public Comment Period
There were no public comments at this time.

THIRD ORDER OF BUSINESS	Consideration of Minutes of the May 11, 2021 Board of Supervisor’s Meeting

The Board reviewed the minutes of the May 11, 2021 Board of Supervisors’ Meeting.

ON MOTION from Mr. Mays, and a Second by Mr. Vargas, with all in favor, the Board of Supervisors for the Grove Resort Community Development District approved the Minutes of the May 11, 2021 Board of Supervisors’ Meeting.

FOURTH ORDER OF BUSINESS	Business Matters

Consideration of Financing Matters Relative to Phase 4, Series 2021 Bonds
Amendment to Engineer’s Report
Amendment to Master Assessment Report
Resolution 2021-04, Declaring Special Assessments
Resolution 2021-05, Setting a Public Hearing Date on the Imposition of Special Assessments
Other Matters

Mr. Eckert discussed various changes to the Amendment to the Engineer’s Report. Mr. Mays noted that the report is currently in draft form. Mr. Eckert and Mr. Wilson will work on getting the report into final format.

Mr. Plenzler highlighted the changes to the Master Assessment Report going through each of the tables of the Master Assessment Report. The Debt Service Assessments were analyzed on both an acreage and ERU basis and found to be reasonably and equitably allocated and there is a benefit received by the District's property owners in excess of the related assessments. Mr. Plenzler noted that there is slightly updated version to the one included in the agenda packet. Mr. Eckert recommended the Board adopts the most recent version of the Master Assessment Methodology Report.

Mr. Eckert reviewed Resolution 2021-04, Declaring Special Assessments. The Engineer Report and Master Assessment Methodology are approved as attachments to this Resolution. This document declares the District’s intent to levy special assessments in

2

the future over the Phase 2 land where building 4 is location. Mr. Eckert requested a motion from the Board to approve Resolution 2021-04.

ON MOTION from Mr. Mays, and a Second by Mr. Vargas, with all in favor, the Board of Supervisors for the Grove Resort Community Development District adopted Resolution 2021-04, Declaring Special Assessments, as amended.

Ms. Gaarlandt stated Resolution 2021-05, sets the public hearing date on the Imposition of Special Assessments. The suggested date is July 13, 2021. Mr. Eckert suggested extending the public hearing date as he is not sure if the District will be able to send 1,000 notices in the next 4 days. Ms. Hanna confirmed that the Harrisburg office needs more time. Mr. Eckert suggested keeping the meeting on July 13, 2021 and setting a Special Meeting for the week of July 19, 2021.

ON MOTION from Mr. Mays, and a Second by Mr. Vargas, with all in favor, the Board of Supervisors for the Grove Resort Community Development District adopted Resolution 2021-05, Setting a Public Hearing Date on the Imposition of Special Assessments for July 20, 2021 at 10:00 a.m. at this location.

Mr. Eckert stated the financing team is having regular calls. Once assessments are in place, it is anticipated that District will be issuing bonds sometime in August or the start of September.

FIFTH ORDER OF BUSINESS	Ratification of Payment Authorizations Nos. 128-129

The Board reviewed Payment Authorizations Nos. 128-129.

ON MOTION from Mr. Mays, and a Second by Mr. Vargas, with all in favor, the Board of Supervisors for the Grove Resort Community Development District ratified Payment Authorizations Nos. 128-129.

SIXTH ORDER OF BUSINESS	Review of District’s Financial Position

3

There was no action required by the Board.

SEVENTH ORDER OF BUSINESS	Other Business	

District Counsel – No Report

District Engineer– No Report	Staff Reports	

District Manager – Ms. Gaarlandt noted the next meeting is scheduled for July 13, 2021 and the Special Meeting will be held on July 20, 2021. She noted the Financial Disclosure Form 1 is due no later than July 1, 2021.

Supervisor Requests and Audience Comments

Mr. Mays requested District staff reach out to Mr. Wilson to make sure he attends the next meeting.

ELEVENTH ORDER OF BUSINESS	Adjournment

There were no other additional comments. Ms. Gaarlandt requested a motion to adjourn.

ON MOTION by Mr. Mays, and a Second by Mr. Vargas, with all in favor, the June 8, 2021 Board of Supervisors Meeting was adjourned.

Secretary / Assistant Secretary	Chairman / Vice Chairman

4

Public Hearing

Resolution 2021-06

RESOLUTION 2021-06

THE ANNUAL APPROPRIATION RESOLUTION OF THE GROVE RESORT COMMUNITY DEVELOPMENT DISTRICT (“DISTRICT”) RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGETS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2021, AND ENDING SEPTEMBER 30, 2022; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has, prior to the fifteenth (15th) day in June, 2021, submitted to the Board of Supervisors (“Board”) of the Grove Resort Community Development District (“District”) proposed budgets (“Proposed Budget”) for the fiscal year beginning October 1, 2021 and ending September 30, 2022 (“Fiscal Year 2021/2022”) along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Section 190.008(2)(a), Florida Statutes; and

WHEREAS, at least sixty (60) days prior to the adoption of the Proposed Budget, the District filed a copy of the Proposed Budget with the local governing authorities having jurisdiction over the area included in the District pursuant to the provisions of Section 190.008(2)(b), Florida Statutes; and

WHEREAS, the Board set a public hearing thereon and caused notice of such public hearing to be given by publication pursuant to Section 190.008(2)(a), Florida Statutes; and

WHEREAS, the District Manager posted the Proposed Budget on the District’s website at least two days before the public hearing; and

WHEREAS, Section 190.008(2)(a), Florida Statutes, requires that, prior to October 1st of each year, the Board, by passage of the Annual Appropriation Resolution, shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year; and

WHEREAS, the District Manager has prepared a Proposed Budget, whereby the budget shall project the cash receipts and disbursements anticipated during a given time period, including reserves for contingencies for emergency or other unanticipated expenditures during the fiscal year.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE GROVE RESORT COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1.     BUDGET

a. The Board has reviewed the Proposed Budget, a copy of which is on file with the office of the District Manager and at the District’s Local Records Office, and hereby approves certain amendments thereto, as shown in Section 2 below.

b.	The Proposed Budget, attached hereto as Exhibit “A,” as amended by the Board,
is hereby adopted in accordance with the provisions of Section 190.008(2)(a), Florida Statutes (“Adopted Budget”), and incorporated herein by reference; provided, however, that the comparative figures contained in the Adopted Budget may be subsequently revised as deemed necessary by the District Manager to reflect actual revenues and expenditures.	
c.	The Adopted Budget, as amended, shall be maintained in the office of the District Manager and at the District’s Local Records Office and identified as “The Budget for the Grove Resort Community Development District for the Fiscal Year Ending September 30, 2022.”	
d.	The Adopted Budget shall be posted by the District Manager on the District’s official website within thirty (30) days after adoption, and shall remain on the	
website for at least 2 years.

SECTION 2.	APPROPRIATIONS

There is hereby appropriated out of the revenues of the District, for Fiscal Year 2021/2022, the sum of $	to be raised by the levy of assessments and/or otherwise, which sum is deemed by the Board to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated in the following fashion:

TOTAL GENERAL FUND	$ 	

DEBT SERVICE FUND – 2017A	$ 	

DEBT SERVICE FUND – 2017B	$ 	

TOTAL ALL FUNDS	$ 	

SECTION 3.	BUDGET AMENDMENTS

Pursuant to Section 189.016, Florida Statutes, the District at any time within Fiscal Year 2021/2022 or within 60 days following the end of the Fiscal Year 2021/2022 may amend its Adopted Budget for that fiscal year as follows:

A line-item appropriation for expenditures within a fund may be decreased or increased by motion of the Board recorded in the minutes, and approving the expenditure, if the total appropriations of the fund do not increase.

The District Manager or Treasurer may approve an expenditure that would increase or decrease a line-item appropriation for expenditures within a fund if

the total appropriations of the fund do not increase and if either (i) the aggregate change in the original appropriation item does not exceed the greater of $15,000 or 15% of the original appropriation, or (ii) such expenditure is authorized by separate disbursement or spending resolution.

Any other budget amendments shall be adopted by resolution and consistent with Florida law.

The District Manager or Treasurer must ensure that any amendments to the budget under paragraph c. above are posted on the District’s website within 5 days after adoption and remain on the website for at least 2 years.

SECTION 4. EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 13th DAY OF JULY, 2021.

ATTEST:	GROVE RESORT COMMUNITY
DEVELOPMENT DISTRICT

Secretary/Assistant Secretary

By:	 Its: 	

Grove Resort CDD
FY 2022 Proposed O&M Budget

Actual Through 06/30/2021

Anticipated Jul.
- Sep.

Anticipated FY 2021 Total

FY 2021
Adopted Budget

FY 2022
Proposed Budget

Revenues

On-Roll Assessments	$	140,267.69	$	7,236.31	$	147,504.00	$	98,280.00	$	149,806.80	
Off-Roll Assessments	-	-	-	49,224.00	-	
Developer Contributions	71,878.50	-	71,878.50	143,671.00	975.79	
Developer Contributions - Deficit Funding/Longboard	-	-	-	1,277,760.00	1,277,760.00	
Manager - Amenity Lease Revenue	58,649.20	19,549.73	78,198.93	-	137,868.50	
Carryforward Revenue	-	-	-	-	49,583.20	
Net Revenues	$	270,795.39		$	26,786.04		$	297,581.43		$ 1,568,935.00		$ 1,615,994.29	

General & Administrative Expenses

Trustee Services	$	8,826.67	$	-	$	8,826.67	$	12,000.00	$	10,000.00	
Management	18,749.97	6,250.03	25,000.00	25,000.00	25,000.00	
Engineering	-	1,250.00	1,250.00	5,000.00	5,000.00	
Dissemination Agent	3,750.00	1,250.00	5,000.00	5,000.00	10,000.00	
Property Appraiser	-	1,000.00	1,000.00	1,000.00	1,000.00	
District Counsel	14,355.16	4,785.05	19,140.21	60,000.00	60,000.00	
Assessment Administration	12,500.00	-	12,500.00	12,500.00	20,000.00	
Reamortization Schedules	125.00	375.00	500.00	500.00	750.00	
Audit	3,526.00	3,000.00	6,526.00	6,500.00	10,000.00	
Travel and Per Diem	150.07	125.00	275.07	500.00	500.00	
Telephone	-	125.00	125.00	500.00	500.00	
Postage & Shipping	33.34	11.11	44.45	300.00	300.00	
Copies	-	250.00	250.00	1,000.00	1,000.00	
Legal Advertising	1,031.04	343.68	1,374.72	2,500.00	4,000.00	
Office Supplies	-	-	-	-	250.00	
Miscellaneous	-	125.00	125.00	500.00	13,250.89	
Property Taxes	1,394.67	-	1,394.67	-	1,400.00	
Web Site Maintenance	1,500.00	1,200.00	2,700.00	2,700.00	2,700.00	
Dues, Licenses, and Fees	200.00	-	200.00	175.00	175.00	
General Liability Insurance	5,257.00	-	5,257.00	6,000.00	6,308.40	
Property & Casualty	138,500.00	-	138,500.00	150,000.00	166,200.00	

Deficit Funding/Longboard

$	209,898.92		$	20,089.88		$	229,988.80		$ 1,569,435.00		$ 1,616,094.29	

  $		
209,898.92  		
  $		
20,089.88  		
   $		
229,988.80  		
  $ 1,569,435.00  		
  $ 1,616,094.29  	
$	60,896.47		$	6,696.17		$	67,592.64		$	(500.00)		$	(100.00)	

$	
156.87		
$	
52.29		
$	
209.16		
$	500.00		
$	100.00	

Total General & Administrative Expenses

Total Expenses
Income (Loss) from Operations Other Income (Expense)
Interest Income

-	-	-

1,277,760.00

1,277,760.00

Total Other Income (Expense)	$	156.87		$	52.29		$	209.16		$	500.00		$	100.00	
Net Income (Loss)	$	61,053.34		$	6,748.46		$	67,801.80		$	-		$	-	

Page 1 of 1

Grove Resort CDD
Proposed FY 2021-2022 O&M Assessments and Debt Service Assessments

Net Debt 	
Net O&M 	Net O&M 	Service 	Total Net 	Total Gross 	

Development Phase Phase I MF Units Phase III MF Units Phase II MF Units Unplatted Acreage
Platted Square Feet Developer Funding
Totals	
Planned Units
292
293
292	Unplatted Acreage

5.84	Platted Square Feet

8,867	
ERU/Type
1
1
1
1
1	Total ERU's 292
293
292
6
9	Assmt. per Phase 49,056.00
49,224.00
49,056.00
981.12
1,489.68
975.79
150,782.59	Assmt. per ERU 168.00
168.00
168.00
168.00
168.00	Assmt. Per Unit
1,079.09
1,079.09
1,079.09	Assessment Per Unit
1,247.09
1,247.09
1,247.09	Assessment Per Unit*
1,299.05
1,299.05
1,299.05	
*Gross up is 4% for Orange County

Grove Resort Community Development District FY 2021-2022 Debt Service Proposed Budget

		FY 2022	
		Proposed	
		DS Budget	
REVENUES:			
Series 2017A	$	1,308,156.25	
Series 2017B		534,375.00	
TOTAL REVENUES	  $		1,842,531.25  	

EXPENDITURES:			
Series 2017A - Interest 11/1/2021	$	364,968.75	
Series 2017A - Interest 5/1/2022		359,093.75	
Series 2017A - Principal 5/1/2022		225,000.00	
Series 2017B - Interest 11/1/2021		106,875.00	
Series 2017B - Interest 5/1/2022		213,750.00	
Series 2017B - Principal 5/1/2022		-	
TOTAL EXPENDITURES	  $		1,269,687.50  	

EXCESS REVENUES (Series 2017A - Interest 11/1/2022)	

$	

359,093.75	
EXCESS REVENUES (Series 2017B - Interest 11/1/2022)		213,750.00	

Page 1 of 1

Grove Resort Community Development District

Resolution 2021-07

RESOLUTION 2021-07

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE GROVE RESORT COMMUNITY DEVELOPMENT DISTRICT MAKING A DETERMINATION OF BENEFIT AND IMPOSING SPECIAL ASSESSMENTS FOR FISCAL YEAR 2021/2022; PROVIDING FOR THE COLLECTION AND ENFORCEMENT OF SPECIAL ASSESSMENTS, INCLUDING BUT NOT LIMITED TO PENALTIES AND INTEREST THEREON; CERTIFYING AN ASSESSMENT ROLL; PROVIDING FOR AMENDMENTS TO THE ASSESSMENT ROLL; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Grove Resort Community Development District (“District”) is a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, for the purpose of providing, operating and maintaining infrastructure improvements, facilities and services to the lands within the District; and

WHEREAS, the District is located in Orange County, Florida (“County”); and

WHEREAS, the District has constructed or acquired various infrastructure improvements and provides certain services in accordance with the District’s adopted capital improvement plan and Chapter 190, Florida Statutes; and

WHEREAS, the Board of Supervisors (“Board”) of the District hereby determines to undertake various operations and maintenance and other activities described in the District’s budget (“Adopted Budget”) for the fiscal year beginning October 1, 2021 and ending September 30, 2022 (“Fiscal Year 2021/2022”), attached hereto as Exhibit “A;” and

WHEREAS, the District must obtain sufficient funds to provide for the operation and maintenance of the services and facilities provided by the District as described in the Adopted Budget; and

WHEREAS, the provision of such services, facilities, and operations is a benefit to lands within the District; and

WHEREAS, Chapter 190, Florida Statutes, provides that the District may impose special assessments on benefitted lands within the District; and

WHEREAS, it is in the best interests of the District to proceed with the imposition of the special assessments for operations and maintenance in the amount set forth in the Adopted Budget; and

WHEREAS, the District has previously levied an assessment for debt service, which the District desires to collect for Fiscal Year 2021/2022; and

WHEREAS, Chapter 197, Florida Statutes, provides a mechanism pursuant to which such special assessments may be placed on the tax roll and collected by the local tax collector (“Uniform Method”), and the District has previously authorized the use of the Uniform Method by, among other things, entering into agreements with the Property Appraiser and Tax Collector of the County for that purpose; and

WHEREAS, it is in the best interests of the District to adopt the assessment roll (“Assessment Roll”) attached to this Resolution as Exhibit “B,” and to certify the portion of the Assessment Roll related to certain developed property (“Tax Roll Property”) to the County Tax Collector pursuant to the Uniform Method and to directly collect the portion of the Assessment Roll relating to the remaining property (“Direct Collect Property”), all as set forth in Exhibit “B;” and

WHEREAS, it is in the best interests of the District to permit the District Manager to amend the Assessment Roll adopted herein, including that portion certified to the County Tax Collector by this Resolution, as the Property Appraiser updates the property roll for the County, for such time as authorized by Florida law.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE GROVE RESORT COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. BENEFIT & ALLOCATION FINDINGS. The provision of the services, facilities, and operations as described in Exhibit “A” confers a special and peculiar benefit to the lands within the District, which benefit exceeds or equals the cost of the assessments. The allocation of the assessments to the specially benefitted lands is shown in Exhibits “A” and “B,” and is hereby found to be fair and reasonable.

SECTION 2. ASSESSMENT IMPOSITION. Pursuant to Chapters 170, 190 and 197, Florida Statutes, and using the procedures authorized by Florida law for the levy and collection of special assessments, a special assessment for operation and maintenance is hereby imposed and levied on benefitted lands within the District and in accordance with Exhibits “A” and “B.” The lien of the special assessments for operations and maintenance imposed and levied by this Resolution shall be effective upon passage of this Resolution. Moreover, pursuant to Section 197.3632(4), Florida Statutes, the lien amount shall serve as the “maximum rate” authorized by law for operation and maintenance assessments.

SECTION 3.	COLLECTION AND ENFORCEMENT; PENALTIES; INTEREST.

Tax Roll Assessments. The operations and maintenance special assessments and previously levied debt service special assessments imposed on the Tax Roll Property shall be collected at the same time and in the same manner as County taxes in accordance with the Uniform Method, as set forth in Exhibits “A” and “B.”

Direct Bill Assessments. The operations and maintenance special assessments and previously levied debt service special assessments imposed on the Direct Collect Property shall be collected directly by the District in accordance with Florida law, as set forth in Exhibits A and B. Assessments directly collected by the District are due according to the following schedule:

Operation and Maintenance Assessments directly collected by the District are due in full on November 1, 2021.

Debt Assessments on the Series 2017A Bonds directly collected by the District are due in full on November 1, 2021; provided, however, that, to the extent permitted by law, the assessments due may be paid in two partial, deferred payments, in the amount invoiced by the District and shall be due on: March 1, 2022, and August 30, 2022.

Interest payments on the Series 2017B Bonds directly collected by the District are due in full on November 1, 2021; provided, however, that, to the extent permitted by law, the assessments due may be paid in two partial, deferred payments, in the amount invoiced by the District and shall be due on: March 1, 2022, and August 30, 2022.

In the event that an assessment payment is not made in accordance with the schedule stated above, the whole assessment – including any remaining partial, deferred payments for Fiscal Year 2021/2022, shall immediately become due and payable; shall accrue interest, penalties in the amount of one percent (1%) per month, and all costs of collection and enforcement; and shall either be enforced pursuant to a foreclosure action, or, at the District’s sole discretion, collected pursuant to the Uniform Method on a future tax bill, which amount may include penalties, interest, and costs of collection and enforcement. Any prejudgment interest on delinquent assessments shall accrue at the rate of any bonds secured by the assessments, or at the statutory prejudgment interest rate, as applicable. In the event an assessment subject to direct collection by the District shall be delinquent, the District Manager and District Counsel, without further authorization by the Board, may initiate foreclosure proceedings pursuant to Chapter 170, Florida Statutes, or other applicable law to collect and enforce the whole assessment, as set forth herein.

Future Collection Methods. The decision to collect special assessments by any particular method – e.g., on the tax roll or by direct bill – does not mean that such method will be used to collect special assessments in future years, and the District reserves the right in its sole discretion to select collection methods in any given year, regardless of past practices.

SECTION 4.	ASSESSMENT ROLL.   The Assessment Roll, attached to this Resolution as
Exhibit “B,” is hereby certified for collection. That portion of the Assessment Roll which includes

the Tax Roll Property is hereby certified to the County Tax Collector and shall be collected by the County Tax Collector in the same manner and time as County taxes. The proceeds therefrom shall be paid to the District.

SECTION 5.    ASSESSMENT ROLL AMENDMENT. The District Manager shall keep apprised of all updates made to the County property roll by the Property Appraiser after the date of this Resolution, and shall amend the Assessment Roll in accordance with any such updates, for such time as authorized by Florida law, to the County property roll. After any amendment of the Assessment Roll, the District Manager shall file the updates in the District records.

SECTION 6. 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.

SECTION 7. EFFECTIVE DATE. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board.

PASSED AND ADOPTED this 13th day of July, 2021.

ATTEST:	GROVE RESORT COMMUNITY
DEVELOPMENT DISTRICT

Secretary / Assistant Secretary

By:	 Its: 	

Exhibit A:	Budget
Exhibit B:	Assessment Roll (Uniform Method) Assessment Roll (Direct Collect)

FY22 Budget Funding Agreement

Public Facilities Report

Series 2017 B1 Prepayment Account Balance

From:	Amanda Lane
To:	Jane Gaarlandt; Christina Hanna
Subject:	FW: Grove Resort CDD 20174B B1 Prepayment Account
Date:	Sunday, June 13, 2021 11:26:31 AM
Attachments:	image001.jpg

Jane,

Please see below email chain.

Please add to the next Grove Resort agenda to ask the board what they want to do with the extra $4,035.00 that is leftover from the 2017 B1 bond series. My recommendation is that we use it for O&M purposes, but the ultimate decision is up to the Board.
Thank you! If you have any questions, please let me know. Amanda Lane
Assistant Chief District Accountant

PFM Group Consulting LLC LaneA@pfm.com | web pfm.com
phone 407.723.5900 (direct phone 407.723.5925) | fax 407.723.5901 12051 Corporate Blvd. | Orlando, FL 32817

From: Amanda Lane
Sent: Sunday, June 13, 2021 11:23 AM
To: Michael Eckert <MichaelE@hgslaw.com>
Cc: Lauren Gentry <LaurenG@hgslaw.com>
Subject: RE: Grove Resort CDD 20174B B1 Prepayment Account

Thank you!

Amanda Lane
Assistant Chief District Accountant

PFM Group Consulting LLC LaneA@pfm.com | web pfm.com
phone 407.723.5900 (direct phone 407.723.5925) | fax 407.723.5901 12051 Corporate Blvd. | Orlando, FL 32817

From: Michael Eckert <MichaelE@hgslaw.com>
Sent: Sunday, June 13, 2021 11:22 AM
To: Amanda Lane <lanea@pfm.com>
Cc: Lauren Gentry <LaurenG@hgslaw.com>
Subject: RE: Grove Resort CDD 20174B B1 Prepayment Account

EXTERNAL EMAIL: Use care with links and attachments.	 Good morning Amanda,
It can be paid to the CDD pursuant to that provision of the master indenture. It is up to the Board what to do with it. Mike

From: Amanda Lane <lanea@pfm.com>
Sent: Thursday, June 10, 2021 4:10 PM
To: Michael Eckert <MichaelE@hgslaw.com>
Subject: FW: Grove Resort CDD 20174B B1 Prepayment Account

Notice: External

Hi Mike,

Per below email, is district counsel okay with the $4,035.00 overage balance to be paid to Grove Resort CDD and used for O&M purposes?

Amanda Lane
Assistant Chief District Accountant

PFM Group Consulting LLC LaneA@pfm.com | web pfm.com
phone 407.723.5900 (direct phone 407.723.5925) | fax 407.723.5901 12051 Corporate Blvd. | Orlando, FL 32817

From: Abbas, Tami J <tami.abbas@usbank.com>
Sent: Thursday, June 10, 2021 3:10 PM
To: Amanda Lane <lanea@pfm.com>
Cc: Audette, James J <james.audette@usbank.com>
Subject: Grove Resort CDD 20174B B1 Prepayment Account

EXTERNAL EMAIL: Use care with links and attachments.	 Hi Amanda,
The Grove Resort 2017 B1 bond series was paid off via prepayment on 11/01/2018. There remains a $4,035.00 balance in the B1 prepayment account. I’ve looked through the Master Trust Indenture and found language in the Master Trust Indenture section 14.01 that indicates that the remaining balance may be paid over to the District.
Please let me know if you would like a check for the account balance to be sent to the PFM offices. Thank you,
Tami

Tami J Abbas
Assistant Vice President | Corp Trust Finl Mgmt Analyst Pronouns: She/her/hers
p. 651.466.7523 | tami.abbas@usbank.com

U.S. Bank

West Side Flats St Paul
60 Livingston Ave, Saint Paul, MN 55107 | EP-MN-WS2N | usbank.com

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Grove Resort Community Development District

Payment Authorization Numbers 130 - 133

Chairperson

6/4/2021		
Item No.	Payee	Invoice Number	General Fund	

Payment Authorizations No. 130

1	
US Bank
FY 2021 Series 2017B Trustee Fees (05/01/2021 - 09/30/2021) FY 2022 Series 2017B Trustee Fees (10/01/2021 - 04/30/2022)				
		6142399
6142399	$
$	1,548.91
2,168.47	
		
TOTAL	
$	
3,717.38	

Secretary / Assistant Secretary

By Amanda Lane at 10:19 am, Jun 05, 2021

c/o Fishkind & Associates, Inc. 12051 Corporate Boulevard
Orlando, FL 32817
(407) 382-3256

Payment Authorizations No. 131
6/11/2021

Item	Payee	Invoice	General	
No.		Number	Fund	

1	
Florida Municipal Insurance Trust
Fourth Installment Billing of Insurance - 20/21 Fund Year	

INV-33937-V6F5	

$ 35,939.25	
2	Tribune 365 National Group
Legal Advertising on 06/08/2021 ; Ad 6964019	
OSC37216572	
$	
297.50	

Chairperson

TOTAL	$ 36,236.75

Secretary / Assistant Secretary

By Amanda Lane at 10:25 am, Jun 12, 2021

c/o Fishkind & Associates, Inc. 12051 Corporate Boulevard
Orlando, FL 32817
(407) 382-3256

Payment Authorizations No. 132

Chairperson

6/18/2021

Item	Payee	Invoice	General	
No.		Number	Fund	

1	
PFM Group Consulting			
	Series 2017AB - Dissemination Services 04/01/2021 - 06/30/2021	115476	$ 1,250.00	
	DM Fee: June 2021	DM-06-2021-0020	$ 2,083.33	
		
TOTAL	
$ 3,333.33	

Secretary / Assistant Secretary

By Amanda Lane at 8:32 am, Jun 21, 2021

c/o Fishkind & Associates, Inc. 12051 Corporate Boulevard
Orlando, FL 32817
(407) 382-3256

C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorizations No. 133

Chairperso

6/25/2021

Item	Payee	Invoice	General	
No.		Number	Fund	

1	
Hopping Green & Sams
General Counsel Through 05/31/2021				
		123258	$	1,485.25	
2	PFM Group Consulting May Billable Expenses May Postage				
		115599
OE-EXP-06-021	$
$	83.67
3.06	
3	VGlobalTech
June Website Maintenance				
		2774	$	100.00	
		
TOTAL	
$	
1,671.98	

Secretary / Assistant Secretary

By Amanda Lane at 11:27 am, Jul 05, 2021

c/o Fishkind & Associates, Inc. 12051 Corporate Boulevard
Orlando, FL 32817
(407) 382-3256

Grove Resort Community Development District

Monthly Financials

	General Fund		Debt Service Fund		Debt Service Fund - B		Capital Projects Fund		Capital Projects Fund - B		General Long Term Debt		Total	
					
Assets									
Current Assets														
General Checking Account	$314,119.17												$314,119.17	
Assessments Receivable	9,539.11												9,539.11	
Prepaid Expenses	2,168.47												2,168.47	
Assessments Receivable			$60,260.54										60,260.54	
Debt Service Reserve A1 Bond			947,437.50										947,437.50	
Revenue A1 Bond			590,922.57										590,922.57	
Interest A1 Bond			0.18										0.18	
Principal A1 Bond			0.10										0.10	
Due From Other Funds					$214,377.83								214,377.83	
Debt Service Reserve B1 Bond					3,000,000.00								3,000,000.00	
Revenue B1 Bond					0.57								0.57	
Interest B1 Bond					11,900.69								11,900.69	
Prepayment B1 Bond					4,035.00								4,035.00	
Prepayment B2 Bond					795,811.10								795,811.10	
Acquisition/Construction A1 Bond							$20,417.51						20,417.51	
Acquisition/Construction B1 Bond									$262,138.58				262,138.58	
Total Current Assets	

$325,826.75		

$1,598,620.89		

$4,026,125.19		

$20,417.51		$262,138.58		$0.00		$6,233,128.92	

Investments
Amount Available in Debt Service Funds Amount To Be Provided
Total Investments											

$5,350,107.71		

$5,350,107.71	
											15,284,892.29		15,284,892.29	

$0.00		

$0.00		

$0.00		

$0.00		$0.00		$20,635,000.00		$20,635,000.00	
Total Assets	$325,826.75		$1,598,620.89		$4,026,125.19		$20,417.51		$262,138.58		$20,635,000.00		$26,868,128.92	

Page 1 of 2

General Fund

Debt Service	Debt Service Fund		Fund - B

$60,260.54		$0.00	
$0.00

$60,260.54		$0.00

$0.00	

$1,591,310.76 (52,950.41)		

$3,725,005.59 301,119.60	

Liabilities and Net Assets

Capital Projects Fund

Capital Projects Fund - B

Current Liabilities
Accounts Payable	
$219,383.14			
Deferred Revenue
Deferred Revenue	9,539.11	
$60,260.54		
Total Current Liabilities	$228,922.25		$0.00		$0.00	

 	 	

Long Term Liabilities
Revenue Bonds Payable - Long-Term Total Long Term Liabilities

Total Liabilities

Net Assets
Net Assets, Unrestricted
Net Assets - General Government
Current Year Net Assets - General Government

Net Assets, Unrestricted
Current Year Net Assets, Unrestricted

Net Assets, Unrestricted
Current Year Net Assets, Unrestricted

$0.00

 	
$228,922.25

$10,082.02 25,769.14
61,053.34

$0.00

$0.00

$0.00

$0.00

Net Assets, Unrestricted							$20,373.09		
Current Year Net Assets, Unrestricted							44.42		
Net Assets, Unrestricted									$205,832.41	
Current Year Net Assets, Unrestricted									56,306.17	
Total Net Assets	$96,904.50		$1,538,360.35		$4,026,125.19		$20,417.51		$262,138.58	
										
Total Liabilities and Net Assets	$325,826.75		$1,598,620.89		$4,026,125.19		$20,417.51		$262,138.58	

General Long Term Debt		Total	

$0.00		

$219,383.14 9,539.11
60,260.54
$289,182.79	

$20,635,000.00
$20,635,000.00		
$20,635,000.00
$20,635,000.00	
$20,635,000.00		$20,924,182.79	

$0.00		

$10,082.02 25,769.14
61,053.34

1,591,310.76
(52,950.41)

3,725,005.59
301,119.60

20,373.09
44.42

205,832.41
56,306.17

$5,943,946.13	
			
$20,635,000.00		$26,868,128.92	

Page 2 of 2

Debt Service	Debt Service	Capital Projects	Capital Projects	
Fund	Fund - B	Fund	Fund - B	

General
General Fund	Long Term	Total
Debt

Revenues								
On-Roll Assessments	$140,267.69						$140,267.69	
Developer Contributions	71,878.50						71,878.50	
Other Income & Other Financing Sources	58,649.20						58,649.20	
On-Roll Assessments		$886,101.39					886,101.39	
Inter-Fund Group Transfers In		(43.60)					(43.60)	
Off-Roll Assessments			$2,163,611.05				2,163,611.05	
Other Assessments			531,680.71				531,680.71	
Inter-Fund Group Transfers In			(56,296.57)				(56,296.57)	
Inter-Fund Transfers In				$43.60			43.60	
Inter-Fund Transfers In					$56,296.57		56,296.57	
Total Revenues	

$270,795.39	

$886,057.79	

$2,638,995.19	$43.60	$56,296.57	$0.00	

$3,852,188.54	
Expenses								
Trustee Services	$8,826.67						$8,826.67	
Management	18,749.97						18,749.97	
Dissemination Agent	3,750.00						3,750.00	
District Counsel	14,355.16						14,355.16	
Assessment Administration	12,500.00						12,500.00	
Reamortization Schedules	125.00						125.00	
Audit	3,526.00						3,526.00	
Travel and Per Diem	150.07						150.07	
Postage & Shipping	33.34						33.34	
Legal Advertising	1,031.04						1,031.04	
Property Taxes	1,394.67						1,394.67	
Web Site Maintenance	1,500.00						1,500.00	
Dues, Licenses, and Fees	200.00						200.00	
General Liability Insurance	5,257.00						5,257.00	
Property & Casualty	138,500.00						138,500.00	
Principal Payments - A Bond		$205,000.00					205,000.00	
Interest Payments - A Bond		734,062.50					734,062.50	

Page 1 of 2

General Fund

General Long Term Debt

Total

Debt Service	Debt Service	Capital Projects	Capital Projects	
Fund	Fund - B	Fund	Fund - B	

Principal Payments - B Bond

$685,000.00

685,000.00

Principal Payments - B2 bond	1,150,000.00		1,150,000.00	
Interest Payments - B Bond	258,150.00		258,150.00	
Interest Payments - B2 bond	301,050.00		301,050.00	
Total Expenses	$209,898.92		$939,062.50		$2,394,200.00		$0.00		$0.00		$0.00		$3,543,161.42	

Other Revenues (Expenses) & Gains (Losses)

Interest Income	$156.87												$156.87	
Interest Income			$52.91										52.91	
Dividend Income			1.39										1.39	
Interest Income					$56,323.74								56,323.74	
Dividend Income					0.67								0.67	
Interest Income							$0.79						0.79	
Dividend Income							0.03						0.03	
Interest Income									$9.32				9.32	
Dividend Income									0.28				0.28	
Total Other Revenues (Expenses) & Gains (Losses)	$156.87		$54.30		$56,324.41		$0.82		$9.60		$0.00		$56,546.00	
Change In Net Assets	$61,053.34		($52,950.41)		$301,119.60		$44.42		$56,306.17		$0.00		$365,573.12	

Net Assets At Beginning Of Year	
$35,851.16		
$1,591,310.76		
$3,725,005.59		
$20,373.09		
$205,832.41		
$0.00		
$5,578,373.01	

Net Assets At End Of Year	
$96,904.50		
$1,538,360.35		
$4,026,125.19		
$20,417.51		
$262,138.58		
$0.00		
$5,943,946.13	

Page 2 of 2

Grove Resort CDD
Budget to Actual
For the Month Ending 6/30/2021	
Year To Date	
	
Actual			
Budget			
Variance	FY 2021
Adopted Budget	

Revenues											
On-Roll Assessments	$	140,267.69	$	73,710.00		$	66,557.69	$	98,280.00	
Off-Roll Assessments	-	36,918.00			(36,918.00)	49,224.00	
Developer Contributions	71,878.50	107,753.25			(35,874.75)	143,671.00	
Developer Contributions - Deficit Funding/Longboard	-	958,320.00			(958,320.00)	1,277,760.00	
Manager - Amenity Lease Revenue	58,649.20	-			58,649.20	-	
Net Revenues	$	270,795.39	
$ 1,176,701.25		$	(905,905.86)	
$ 1,568,935.00	
General & Administrative Expenses									
Trustee Services	$	8,826.67		$	9,000.00		$	(173.33)	$	12,000.00	
Management	18,749.97			18,750.00			(0.03)	25,000.00	
Engineering	-			3,750.00			(3,750.00)	5,000.00	
Dissemination Agent	3,750.00			3,750.00			-	5,000.00	
Property Appraiser	-			750.00			(750.00)	1,000.00	
District Counsel	14,355.16			45,000.00			(30,644.84)	60,000.00	
Assessment Administration	12,500.00			9,375.00			3,125.00	12,500.00	
Reamortization Schedules	125.00			375.00			(250.00)	500.00	
Audit	3,526.00			4,875.00			(1,349.00)	6,500.00	
Travel and Per Diem	150.07			375.00			(224.93)	500.00	
Telephone	-			375.00			(375.00)	500.00	
Postage & Shipping	33.34			225.00			(191.66)	300.00	
Copies	-			750.00			(750.00)	1,000.00	
Legal Advertising	1,031.04			1,875.00			(843.96)	2,500.00	
Miscellaneous	-			375.00			(375.00)	500.00	
Property Taxes	1,394.67			-			1,394.67	-	
Web Site Maintenance	1,500.00			2,025.00			(525.00)	2,700.00	
Dues, Licenses, and Fees	200.00			131.25			68.75	175.00	
General Liability Insurance	5,257.00			4,500.00			757.00	6,000.00	
Property & Casualty	138,500.00			112,500.00			26,000.00	150,000.00	
Deficit Funding/Longboard	-			958,320.00			(958,320.00)	1,277,760.00	
Total General & Administrative Expenses	$	209,898.92	$ 1,177,076.25		$	(967,177.33)	
$ 1,569,435.00	

Total Expenses	
  $	209,898.92  		
   $ 1,177,076.25  		
  $		
(967,177.33)	
  $ 1,569,435.00  	
Income (Loss) from Operations	$	60,896.47	$	(375.00)		$	61,271.47		$	(500.00)	
Other Income (Expense)
Interest Income	

$	156.87		

$	

375.00		

$	

(218.13)	

$	500.00	
Total Other Income (Expense)	$	156.87		$	375.00		$	(218.13)	
$	500.00	
Net Income (Loss)	$	61,053.34	$	-		$	61,053.34		$	-	

Page 1 of 1