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Copy of Draft Meeting Minutes for July 11, 2022

Renaissance Community Development District

The regular meeting of the Board of Supervisors of the Renaissance Community Development District was held on Monday, July 11, 2022 at 9:00 a.m. at the Club at Renaissance on 12801 Renaissance Way in Fort Myers, Florida and via web conference.

Present (or attending via web conference) and constituting a quorum were:

Doug Dickey – Chair
Sam Martin – Vice Chair
Linda Stuart – Assistant Secretary
Russ Stuart – Assistant Secretary

Also present (or attending via web conference) were:

Cal Teague – District Manager from Premier District Management (PDM)
Tom Hart – Attorney, Knott, Ebelini, Hart
Cynthia Wilhelm – Bond Counsel, Nabors, Giblin, and Nickerson, P.A.
Residents

The following is a summary of the actions taken at the Renaissance Community Development District (CDD) Board of Supervisors meeting.

FIRST ORDER OF BUSINESS Call to Order and Roll Call

The Renaissance Community Development District meeting was called to order, and District Manager Cal Teague called the roll. Four Board members were present, with Supervisor Martin attending via web conference. Also present were Tom Hart, the Attorney, and Cynthia Wilhelm, Bond Counsel.

On MOTION by Chair Dickey, seconded by Supervisor Russ Stuart, with all in favor, the Board approved Supervisor Martin’s attendance via web conference.

SECOND ORDER OF BUSINESS Approval of the Agenda

Add 5Aiia Exhibit A & 5Aiib Exhibit B
Add 5B Lake 9 Fountain Install Update
Add 6A Lake 10N Fountain Motor & Pump Replacement Estimate
Add7B Letter to Residents
Add 7C Setting Meeting Dates for FY 2023
Add 8A Work Orders
Add 10A I-75 Wall Structural Engineering Report

On MOTION by Supervisor Linda Stuart, seconded by Supervisor Russ Stuart, with all in favor, the Board approved the Agenda, as amended.

THIRD ORDER OF BUSINESS Audience Comments on Agenda Items

There were no Audience comments on the Agenda items.

FOURTH ORDER OF BUSINESS Approval of Meeting Minutes

A. Draft Regular Meeting Minutes from June 6, 2022

The Draft Meeting Minutes for last month’s meeting were not available to the Board and will be acted on at the next meeting.

FIFTH ORDER OF BUSINESS Old Business

A. Series 2022 Bond and Public Hearing on Repayment Special Assessments

District Manager Teague stated that this is for generating more funds for upgrades and for possible replacement of some of the assets in the community. Chair Dickey explained to the audience that there were originally 2 bonds floated in 2002, one for $8mil and the second for $16mil, when the community was being established, which were used for building infrastructure. They were refinanced in 2012, and the purpose of the 2022 Series Bond is to pay off the 2012 bond, and, out of that, obtain funds for current infrastructure projects. Attorney Wilhelm explained that the purpose is also for increasing the maturity date of the bond from 2032 to 2037. The annual assessments will go down slightly, but the residents will be paying longer. District Manager Teague and Chair Dickey also explained how this affects homeowner’s yearly taxes.

On MOTION by Supervisor Linda Stuart, seconded by Chair Dickey, with all in favor, the Board opened the Pubic Hearing at 9:13 a.m.

Concerning a resident’s question, Attorney Wilhelm stated that there are not additional fees with the 2022 Series Bond, and that it will be for paying off the principal and the interest to the date of closing. District Manager Teague stated that $1mil will be added to the principal from the old bond, and $1.3mil will be available for infrastructure installation and updates. They stated that this was further explained in the methodology report.

In response to a resident’s question, the projects that the Board will consider are in the Engineer’s report and will be completed over an extended period of time. There was discussion on the replacement of the I-75 wall, which will be contingent on the action of the Department of Transportation, and if they will install a sound mitigation wall while adding lanes to the adjacent highway.

On MOTION by Supervisor Linda Stuart, seconded by Supervisor Russ Stuart, with all in favor, the Board closed the Pubic Hearing at 9:21 a.m.

i. Final Supplemental Assessment Methodology Report

District Manager Teague will post this on the Renaissance website.

ii. Resolution No. 2022-06 – Final Assessment Resolution and Public Hearing on Refunding Special Assessments
(a) Exhibit A – Engineering Report 06.01.22
(b) Exhibit B – Supplemental Methodology Report 07.11.22

Attorney Wilhelm explained that Resolution 2022-06 is setting forth the final cost of the project and the refunding amount, and approving the methodology report and the Engineer’s report. In response to Chair Dickey’s question, Attorney Wilhelm stated that the bank requires the minimum of 15% in the operating account to avoid default. District Manager Teague stated that it would be $85,000, based on current deposits.

On MOTION by Chair Dickey, seconded by Supervisor Linda Stuart, with all in favor, the Board approved Resolution 2202-06, making certain findings; authorizing a capital improvement project and refunding of the District’s prior bonds, adopting an engineer’s report, providing an estimated cost of improvements; adopting a methodology report; equalizing, approving, confirming, and levying special assessments; addressing the finalization of special assessments; addressing the payment of special assessments and the method of collection; authorizing an assessment notice; and providing for severability, conflicts and an effective date.

iii. Resolution No. 2022-07 – Authorizing Resolution
(a) Exhibit A – Proposal from Valley National Bank
(b) Exhibit B – Form of Supplemental Indenture

Attorney Wilhelm stated that this resolution is authorizing the District’s loan with Valley National Bank, having the bond placed with them, approving the form of the supplemental indenture, and ratifying the approval commitment with Valley National, which was previously approved.

On MOTION by Chair Dickey, seconded by Supervisor Linda Stuart, with all in favor, the Board approved Resolution 2022-07, authorizing the procurement of a loan with Valley National Bank, by refunding the 2012 refunding bond.

A District seal was needed for the resolutions that were being adopted and for the final loan documents. The previous management company did not provide a seal to Premier District Management, so a temporary seal was adopted.

On MOTION by Supervisor Linda Stuart, seconded by Supervisor Russ Stuart, with all in favor, the Board adopted a temporary seal for Resolution 2022-06 and Resolution 2022-07.

B. Lake 9 Fountain Install Update

District Manager Teague reported that the electrical panel had been placed in the wrong location, and needed to be closer to the shoreline. He stated that the fountain will be installed at the new location, which had been agreed upon by the group that is paying for the fountain. The installation will be when Vice Chair Martin, who is a member of the group, returns toward the middle to the end of July.

SIXTH ORDER OF BUSINESS New Business

A. Lake 10N Fountain Motor & Pump Replacement Estimate

District Manager Teague stated that the motor and pump are in bad shape and need to be replaced. Solitude had given an estimate of $5,154.50 for the repair.

On MOTION by Chair Dickey, seconded by Supervisor Linda Stuart, with all in favor, the Board approved the replacement of the pump and motor of the Lake 10N Fountain, not to exceed $5,154.50.

Supervisor Martin suggested that the Board authorize the replacement of all of the aging aerators and condensers at the same time. District Manager Teague stated that Field Manager Pepin has an inventory of all the fountains and aerators, which will assist in the timing of repairs, and he will bring it to the next meeting.

SEVENTH ORDER OF BUSINESS District Manager

A. Financial Reports from March, April, May, and June 2022

District Manager Teague reviewed the financials. He stated that the June report will be sent to the Board within the next 10 days.

On MOTION by Supervisor Russ Stuart, seconded by Supervisor Linda Stuart, with all in favor, the Board accepted the Financial Reports for March, April, May, and June 2022.

B. Letter to Residents – Public Hearing and Assessment – July 18, 2022

The mailed notice was authorized by Supervisor Linda Stuart, with Attorney Hart’s legal review and corrections. There was discussion on the purpose of the fees increase, which will have enough operating funds available for unexpected expenses. On the other hand, the bond funds that will be available from the loan are for planned projects.

C. Resolution 2022-08 Set Meeting Dates for Fiscal Year 2023

On MOTION by Supervisor Linda Stuart, seconded by Supervisor Russ Stuart, with all in favor, the Board approved Resolution 2022-08, which specifies the meeting dates for Fiscal Year 2023.

EIGHTH ORDER OF BUSINESS Field Manager

Attorney Hart arrived at the meeting at the beginning of the Field Manager report.

A. Work Orders

District Manager Teague reviewed the recent maintenance tasks that had been done, and the work orders that had been submitted by Field Manager Pepin. No one objected to having Field Manager Pepin complete them.

NINTH ORDER OF BUSINESS Attorney

District Manager Teague asked Attorney Hart for the final draft of the notice that will be sent to residents concerning the upcoming Public Hearing.

District Manager Teague also stated that the property appraiser had the wrong address for some residents, and consequently, staff sent out the report to the corrected addresses. Supervisor Linda Stuart asked if the property appraiser’s list of addresses could be corrected, and Attorney Hart will see that this is done.

TENTH ORDER OF BUSINESS Engineer

A. I-75 Wall Structural Engineering Report

District Manager Teague stated that Engineer McCleary had reported that a structural analysis of the wall had been done. The Board would like Mark to give a report on the specifics of the findings.

Chair Dickey asked if funds had been made available for fence repair, and Supervisor Martin stated that the Board had decided to wait on any action until it is determined if the work will be done by the District or the State.

ELEVENTH ORDER OF BUSINESS Supervisor Requests/Comments

Supervisor Martin would like a copy of the Engineer’s report referred to in Resolution 2022-06, and Supervisor Linda Stuart will send it to him. He also asked District Manager Teague if he had heard from George Petit, who has an interest in serving on the Board, and he stated that he had not.

TWELFTH ORDER OF BUSINESS Audience Comments

Rodney Poole asked if the funds from the bond can be used for repairing the I-75 wall.

THIRTEENTH ORDER OF BUSINESS Adjournment

On MOTION by Supervisor Linda Stuart, seconded by Supervisor Russ Stuart, with all in favor, the Meeting was adjourned at 10:08 a.m.

The Next Regular Meeting is scheduled for August 8, 2022 at 9:00 a.m.

Secretary/Assistant Secretary
Chair/Vice Chair