Village Community Development District No. 16 (2026-10-13)

We have a required quorum. Will you please stand for the pledge of allegiance? Pledge of allegiance. I pledge allegiance to the flag of the United States of America, and to the Republic for which it stands, one nation under God, indivisible, with liberty and justice for all. Please remain standing for a moment of silence. You may be seated. Welcome, everyone. Good afternoon. Any comments, Jim? Okay, we'll move on to the consent agenda. Motion to approve consent agenda. Second. All in favor? Aye. Opposed? Passed consent agenda. Very good. Thank you. So we have one new business item today and one public hearing. The first new business is adoption of Resolution 2027-03, amending Resolution 2026-50 regarding the issuance of special assessment revenue bonds. So for that, I'll ask Ms. Taylor to introduce the topic, and then we will then go on to our assessment engineer consultants to give you any updates as needed. Ms. Taylor? There's a spider on the podium. Uh-oh. So I will stand over here. Good afternoon. Jennifer Taylor with Barrett Allison Consulting and Design Council. I'm terrified of spiders. As you will recall, you previously adopted Resolution 2026-50 to authorize the issuance of the... Thank you, Mr. Blocker. 2026 bonds. That is a big one on me. And to delegate to the chair or the vice chair the authority to award those bonds following pricing. As we discussed at that point, we never know exactly the terms of those bonds until we actually price them. So the resolution sets forth certain parameters which must be met in order for the bonds to be awarded. Since the time that resolution was adopted, the markets have been turbulent. And so in order to give the board a little bit more flexibility and to ensure that we don't have a situation where interest rates increase above the prior parameters that we had established, this resolution would amend the one parameter which is the interest rate from 6% to 7%. So that is reflected here in the resolution. The remaining terms of the delegation resolution stay the same. So if you have any questions about that, happy to answer them now that I can stand in front of the podium again. Any questions? No. No, that's fine. Okay. Then at this time, you can make a motion. Need a motion to approve. Motion to approve Resolution 2027-03, amending Resolution 2026-50 regarding the issuance of special assessments revenue bonds, Series 2026. Second. All in favor? Aye. Opposed? Passed. Thank you. The next item, Madam Chair, is a public hearing. And for the public hearing, we'll be seeking the adoption of Resolution 2027-04, authorizing the district improvement equalization, approving, certifying, confirming, and levying special assessments on property within phase two of the district. For that, I don't know if Ms. Taylor wants to go over a brief overview of the resolution, and then we could have our consultants just give any quick updates. We can then open up the public hearing, take any public comment, and then close it if there is no public comment. So, Ms. Taylor. Thank you. So again, by way of recap, you previously adopted two resolutions as part of the Chapter 170 assessment process. The first declared the district's intent to levy assessments to finance the 2026 project, and the second resolution set a public hearing, which is here today, and that has been duly published and noticed. This resolution essentially is the second and final step in the Chapter 170 process. As Mr. Blocker indicated, we'll hold a public hearing, at which point members of the public may make any comments on the assessment process. Once the public hearing is closed, we can return to this resolution. This would essentially equalize and levy the assessments and officially put them in place to serve as security for the bonds once issued. Again, happy to answer any questions. Otherwise, I will turn it over to the consultants. We have slight updates, for the record, to the methodology and the engineer's report versus the reports that were presented at your prior meeting. And again, those relate back to the adjustment upward in interest rates that we are seeing in the markets. So I'll reference CFP just real quick if there's any updates to the previous engineer's report. Good afternoon. Bruce Nelson with Tucker Barnhill & Barney. From the engineer's report provided, dated August 13th, 2026, we don't have any updates to report. Everything remains the same. And then Mr. Plenzler will give an update to the assessment methodology if you would. For the record, Kevin Plenzler, PFM Financial Advisors. Yeah, as Ms. Taylor had mentioned before, given the market conditions in August compared to where we are today, we have updated the methodology report. With respect to table four of the document, you'll see the increase in interest rate from 6% to 7%. This results in an increase to the maximum annual debt service. It does not impact the par amount of bonds. Yeah, one more table, please. Table four. There we go. Yeah, you'll see that there's 7% there on the average coupon rate rather than 6%. As a result, the maximum annual debt service increased to the 14.4 number, which was previously just over 13 million. That's about an 11% increase. That's reflected in table seven with an increase in all the annual assessments to various property types. And that just gives us a little flexibility given where the interest rates will move going forward. We don't expect to have to go all the way to 7% when we issue the bonds, but it gives us flexibility to do so. But other than that, no other substantive changes to the document. Thank you. Madam Chair, I just ask you to open up the public hearing, take any public comment as requested. We'll open it up for public hearing. Any comments, questions? If not at this time, we will close the public hearing. Thank you. And then any comments from supervisors or questions? Hearing none, we will just seek adoption of Resolution 2027-04. Motion to approve Resolution 2027-04 authorizing district improvements, equalizing, approving, certifying, confirming, and levying special assessments on property within phase two. Second. All in favor? Aye. All opposed? Passed. Very good. Thank you. The next are information items. If there's any questions we can address or move on to my report. Any questions on the information items? Just real quick, I'll give you an update on pricing, but real quick, there's Government Day on November 7th, although we'll be meeting again on November 2nd, I believe. So we can give you that update as well or remind you of that calendar for Government Day. It's at Eisenhower on November 7th, heavily attended event. But just to give you an update on the bond issuance, so we will be doing pricing October 20th. That is the date that is slated, which is a week from today. So we hope to have a good day in the market. That's what Mr. Baldwin is predicting for us, we know. So we are hopeful. And then once we do price, we will come back at your November 2nd meeting, and we'll give you an update on pricing, any final approvals that we may need, and then we'll close it out. After that meeting is when we'll ask for you, Madam Chair, to sit with us and go through all the closing documents to sign your name, and then the final closing will be October... I mean, November 4th. So we're straddling Election Day. Right. So with that, those are all my updates. So remember, pricing next Tuesday, and then we'll come back November 2nd. November 2nd meeting is in Brownwood, so it's at my office in Brownwood at 9:00 AM. All right. With that, there's no more reports. No district council reports. Thank you. Motion to adjourn. Second. All in favor? Aye. Adjourned. All right. Thank you. Thank you.

Community Development District 16 Seat 1 - Jake Andrews - Supervisor Seat 2 - Carolyn Pruett-Isbill - Chair Seat 3 - Justin Richey- Supervisor Seat 4 - John Brinson- Supervisor Seat 5 - Bobby Davenport- Vice Chair October 13, 2026 at 2:00 PM Olympia Regional Recreation Center 1210 McPherson Terrace The Villages, Florida 34762 ____________________________________________________________________________________________ AGENDA The District encourages citizen participation in the democratic process and recognizes and protects the right of freedom of speech afforded to all. As the Board conducts the business of the District, rules of civility shall apply. District Board Supervisors, Staff members, and members of the public are to communicate respectfully. It is preferred that persons speak only when recognized by the Board Chair and, at that time, refrain from engaging in personal attacks or derogatory or offensive language. Persons who are deemed to be disruptive and negatively impact the efficient operation of the meeting shall be subject to removal after two verbal warnings. Audience Comments on all issues will be received by the Board. 1. Call to Order 1.A. Roll Call 1.B. Pledge of Allegiance 1.C. Observation of Moment of Silence 1.D. Welcome Meeting Attendees 1.E. Audience Comments 2. Consent Agenda A motion to approve the Consent Agenda is a motion to approve all recommended actions. All matters on the Consent Agenda are considered routine and no discussion is required unless desired by a Board Supervisor or a Member of the Public. 2.A. Approval of Minutes 2.B. Acceptance of the Conveyance of the Common Tracts and Roadways and Join in the Dedication and Ratification of the Chair’s signature on the Mylar(s) and Resolution(s) of those Common Tracts and Roadways for the following: VOSO Unit No. 253 and adoption of Resolution 2027-01 2.C. Acceptance of the Conveyance of the Common Tracts and Roadways and Join in the Dedication and Ratification of the Chair’s signature on the Mylar(s) and Resolution(s) of those Common Tracts and Roadways for the following: VOSO Unit No. 255 and adoption of Resolution 2027-02 2.D. Acceptance of the Conveyance of the Common Tracts and Roadways and Join in the Dedication and Ratification of the Chair’s signature on the Mylar(s) and Resolution(s) of those Common Tracts and Roadways for the following: VOSO Unit No. 320 and adoption of Resolution 2027-05 2.E. Approval of Quit Claim Deed from The Villages Development Company, LLC for Village of Southern Oaks Unit Nos. 251, 254 and 258 2.F. Approval of Right-of-Way Deed with the City of Wildwood for Villages of Southern Oaks Unit Nos. 251, 254, and 258

2.G. Approval of Grant of Easement and Maintenance Agreement with The Villages Development Company, LLC 3. New Business 3.A. Adoption of Resolution 2027-03 Amending Resolution 2026-50 Regarding the Issuance of Special Assessment Revenue Bonds, Series 2026 4. Public Hearings 4.A. Adoption of Resolution 2027-04 Authorizing District Improvements; Equalizing, Approving, Certifying, Confirming and Levying Special Assessments on Property within Phase II A. Overview of Resolution 2027-04 B. Open Public Hearing C. Close Public Hearing D. Adoption of Resolution 2027-04 Authorizing District Improvements; Equalizing, Approving, Certifying, Confirming and Levying Special Assessments on Property within Phase II 5. Informational Items Only 5.A. Financial Statements 5.B. Assessment Presentation Unit Nos. 251, 254, and 258 6. District Manager Reports 6.A. Save the Date: Government Day on November 7, 2026 7. District Counsel Reports 8. Supervisor Comments 9. Adjourn HOSPITALITY STEWARDSHIP INNOVATION & CREATIVITY HARD WORK NOTICE Each person who decides to appeal any action taken at these meetings is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, incoming the testimony and evidence upon which such appeal is to be based. Audio recordings of Board meetings, workshops or public hearings are available for purchase per Florida Statute 119.07 through the District Clerk for $1.00 per CD requested. Any person requiring special accommodations at this meeting because of disability of physical impairment should contact the District Office at (352) 751-3939 at least five calendar days prior to the meetings.