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MINUTES OF MEETING EDEN HILLS
COMMUNITY DEVELOPMENT DISTRICT

The Regular meeting of the Board of Supervisors of the Eden Hills Community Development District was held Thursday, November 19, 2020 at 1:15 p.m. at 346 East Central Ave., Winter Haven, FL.

Present and constituting a quorum:

Rennie Heath Lauren Schwenk Matthew Cassidy Jack Berry
Chairman
Vice Chairman Assistant Secretary Assistant Secretary

Also present were:

Jill Burns Michelle Rigoni Ashton Bligh
District Manager, GMS District Counsel Greenberg Traurig

FIRST ORDER OF BUSINESS	Roll Call
Ms. Bums called the meeting to order and called the roll. Four supervisors were present constituting a quorum.

SECOND ORDER OF BUSNESS	Public Comment Period
There were no members of the public on the conference call line or joining via Zoom.

THIRD ORDER OF BUSINESS	Approval of the Minutes of the August 12,
2020 Board of Supervisors Meeting
Ms. Bums asked for any comments, corrections, or changes to the August 12, 2020 Board of Supervisors meeting minutes. The Board had no changes to the minutes.

FOURTH ORDER OF BUSINESS	Presentation of the Engineer's Report
Ms. Burns noted that the Engineer's report had not changed since the Board had seen it at a prior meeting. The Board had no questions for Mr. Wood about the report.

FIFTH ORDER OF BUSINESS	Presentation	the	Supplemental
Assessment Methodology
Ms. Bums noted that the methodology had been updated to reflect the final pricing. It shpws 142 single family units with the same ERU. Table 2 shows the capital improvement  plan for Phase 1. Table 3 shows the bond sizing of $2,950,000. Table 4 shows the improvement cost  per unit. Table 5 shows the par debt per unit of $20,775. Table 6 outlines the net and gross annual debt assessments per unit which will be $1,212 net for each of those 142 units. Table 7 shows the debt per acre.
Ms. Rigoni asked if the Supplemental Methodology was consistent with the Master Assessment Methodology, and Ms. Burns answered yes. Ms. Rigoni asked if the lands subject to the Series 2020 assessment area receive special benefits from the Phase 1 capital improvements, and Ms. Bums answered yes. Ms. Rigoni asked if the assessments were fairly and reasonably apportioned among the Series 2020 assessment area, Ms. Bums answered  yes. Ms. Rigoni  asked if those benefits at least equal or exceed the assessments levied, and Ms. Bums answered yes.

SIXTH ORDER OF BUSINESS	Consideration	of	Resolution	2021-01
Supplemental Assessment Resolution
Ms. Bums noted that Resolution 2021-01 sets forth the terms of the sale of the Series 2020 bonds. Ms. Rigoni noted that this is consistent with the Master Resolution and makes certain fmdings and adopts the engineer's report.

A. Consideration of Notice of Special Assessments
Ms. Bums stated that the notice will be recorded in the public records to put potential property owners on notice of the Series 2020 bonds that have been issued.

SEVENIB  ORDER OF BUSINESS	Consideration of Series 2020 Developer
Agreements
Completion Agreement
Ms. Burns stated that the agreement is with Highland Sumner, LLC. The Series 2020 bonds will only provide a portion of the funds necessary to complete the Series 2020 project. The landowner either agrees to complete the project or provide the funds to the District in order to complete the portion not funded by the Series 2020 bonds.

Acquisition Agreement
Ms. Burns noted that this agreement is with Highland Sumner, LLC as well. The district desires to acquire certain work product or improvements and accepts the assignment of certain agreements. This also allows the landowner to convey the district real property to the district to operate and install improvements.

Collateral Assignment Agreement
Ms. Burns noted that in the event of default the payment of the Series 2020 bonds, the developer will assign certain development rights to the District in order to complete the project or to enable a third party to complete the development of the Series 2020 project.

True-Up Agreement
Ms. Bums notes this agreement is with Highland Sumner, LLC, and it outlines the landowner and district's desire to confirm that the landowner's intention and obligation if required to make true up payments related to the Series 2020 special assessments.

Declaration of Consent
Ms. Burns notes that states that the landowner confirms and agrees that all the proceedings undertaken by the· district have been in accordance with Florida law and the District is taking all action necessary to levy and impose special assessments.

EIGHTH ORDER OF BUSINESS
Attorney
Ms. Rigoni had nothing to report.
Staff Reports

Engineer
Mr. Wood had nothing further to report.

District Manager's Report
Appointment of Audit Committee

Ms. Bums suggested that the Board appoint themselves as the audit committee.

Approval of the Check Register
The Board had no questions on the check register.

Balance Sheet and Income Statement
Ms. Bums presented the financials and asked for any questions. The Board had no questions.

NINTH ORDER OF BUSINESS
There being none, the next item followed.

TENffl ORDER OF BUSINESS

There being none, the next item followed.

ELEVENTH ORDER OF BUSINESS
Ms. Bums adjourned the meeting.
Other Business

Supervisors	Requests	and	Audience Comments

Adjournment