Village Community Development District No. 16 (2026-11-02)

We have everyone here today for a quorum, so if you will please stand for the 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, this morning. Does anyone have any comments to start us out today? Okay, we will move on then. Consent agenda, ma'am. Motion to approve the line item. Motion to approve consent agenda. Second. All in favor? Aye. Opposed? Passed. The new business item, ma'am, the supervisor just adopted Resolution 2027-10, the supplemental resolution 202704, which resolution previously equalized the previous certificate of levy special assessments on the property in the base. This now updates the special assessment based on the pricing, and it's just a supplemental update to the previous resolution. So we're going to have our engineer from TFE and then our consultant to give them through their updates and their reports, and then we'll move to possible- Excuse me. Motion. But Tyler? Good morning, board members. My name is Tyler Counts, Clymer, Horn & Barley, filling in for Lee Clymer and Bruce Valsendi. Be the third string quarterback today. So it's my understanding that this report that I have here has already been read into the record, and so the only changes are the district eligible construction cost estimate. So I'd like to read that. The engineer's estimate for the district eligible cost construction of the Phase 2 project is $313,932,566, of which $161,036,230 is anticipated to be funded by the 2026 bonds and $152,896,336 anticipated to be funded by the Village Development Company. So those are the numbers from the final report. And I'm here if you have any questions. Questions? With none- No questions ... we would have Mr. Plenzler come up and do the supplemental assessment resolution for the report. Good morning, all. For the record, Kevin Plenzler, PFM Financial Advisors. Before the board, you'll see the supplemental assessment methodology report for our Village 16 Phase 2 bonds. Consistent with the previous document approved by this board, we've gone through the process of pricing the bonds. So you'll see in table four of the document the final pricing numbers, which show a par amount of bonds of $179 million. And you'll see the project proceeds of just over $161 million associated with that financing. No other changes to the document in terms of development program or development acreage. So we've updated the assessments accordingly. So in tables five and six, you will see the allocation on a principal per unit basis as well as an annual assessment per unit basis, consistent with the approved master methodology. We believe these assessments are reasonably and equitably allocated, and there's a benefit received by the district's property owners. Happy to answer any questions from the board or the audience. Any questions at this time? No questions at this time. Thank you. So with that, we would just need a motion to adopt Resolution 2027-10, supplementing Resolution 202704. Do I need to read the whole thing, the whole line? No, you don't have to read the whole resolution. Okay. Motion to adopt Resolution 2027-10, supplementing Resolution 2027-04. Second. All in favor? Aye. Opposed? Very good. Thank you. And Madam Chair, I would like to have Mr. Baldwin come up from TRV, your investment banker underwriter, to give you kind of an overview of the pricing that we had a couple of weeks ago. So go ahead. Good morning, gang. Mike Baldwin with TRV Securities. And I think if you remember last October, we were talking about District 16 Phase 1 financing, and I think we were gloating that we had like $750 million in orders for, what, a $127 million bond financing, and we were able to price it at historically low spreads of like 102.5 on the long end. Now, this financing, we kind of hit a grand slam where we generated 3.5 billion, billion with a B there, from 45 investors for 179 million worth of bonds, and we were able to reprice the bonds 15 to 22.5 basis points lower in yield, and resulting in a 5.73% TIC. So record low spreads on the long end of like 93, so we kind of blew our record by almost nine basis points. So really successful sale and, yeah, it's a testament to the villages and what the developers do in here. Mike, could you just repeat that again, 177 million- 179 million ... in orders. What are we taking in orders? We generated orders for 3.5 billion, almost 20 times oversubscribed- That's huge ... which when you have an oversubscription, you can kind of ratchet the rates down lower than that. And what happens is you can kind of, as an underwriter, we're trying to get the most aggressive pricing, and then we had almost 600 million of investors... Excuse me, 600 million of orders that dropped, that said, "Hey, no, we don't like those lower yields." That was from 13 investors. So really aggressive pricing, really happy with the results. It was a good day in the market. Yes. Thank you. Information items, if there's any information or questions. Can we consider that then? Yep. What you just presented? Yeah. That's supplement 2027. That's what that's attached from, yeah. Any questions on the information items? Not at this time. Okay. With that, ma'am, I have no other reports. Any reports from the different councils? No reports. With that, ma'am, supervisor comments? Any comments this time? Supervisor comments. No rising for the floor. We're done. Motion to adjourn. Second. Adjourned. Thank you. We are waiting for Mike

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 November 2, 2026 at 9:00 AM District Office Board Room 3571 Kiessel Road The Villages, FL 32163 ____________________________________________________________________________________________ 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. Adoption of Resolution 2027-08: FY2025-26 Budget Amendment 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. 318 and adoption of Resolution 2027-06 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. 319 and adoption of Resolution 2027-07 2.E. 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. 295 and adoption of Resolution 2027-09 2.F. Approval of Quit Claim Deed from The Villages Development Company, LLC for Village of Southern Oaks Unit Nos. 256 and 257 2.G. Approval of Right-of-Way Deed with the City of Wildwood for Villages of Southern Oaks Unit Nos. 256 and 257

3. New Business 3.A. Adoption of Resolution 2027-10 Supplementing Resolution 2027-04, which Resolution Previously Equalized, Approved, Certified and Levied Special Assessments on and Peculiar to Property within Phase II and approves and adopts the Supplemental Assessment Report 4. Informational Items Only 4.A. Financial Statements 4.B. Assessment Presentation Unit Nos. 256 and 257 5. District Manager Reports 6. District Counsel Reports 7. Supervisor Comments 8. 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.