COCO PALMS COMMUNITY DEVELOPMENT
DISTRICT

MIAMI-DADE COUNTY REGULAR BOARD MEETING MARCH 25, 2024
6:30 P.M.

Special District Services, Inc.
8785 SW 165th Avenue, Suite 200
Miami, FL 33193
786.313.3661 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA
COCO PALMS COMMUNITY DEVELOPMENT DISTRICT
Artesa Clubhouse 11590 SW 248th Street Homestead, FL 33032
REGULAR BOARD MEETING
March 25, 2024
6:30 p.m.

Call to Order
Proof of Publication	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
October 12, 2023 Special Board Meeting	Page 2
Old Business
New Business
Consider Resolution No. 2024-01 – Adopting a Fiscal Year 2024/2025 Proposed Budget	Page 5
Discussion Regarding Required Ethics Training	Page 13
Discussion Regarding Expansion of Lanes on 248th Street and 117th Avenue
Discussion Regarding Adding Turnpike Sound Wall and Street Lights on 112th Avenue
Administrative & Operational Matters
Board Member & Staff Closing Comments
Adjourn

MIAMI-DADE

STATE OF FLORIDA COUNTY OF MIAMI-DADE:

Before the undersigned authority personally appeared ROSANA SALGADO, who on oath says that he or she is the LEGAL CLERK, Legal Notices of the Miami Daily Business Review f/k/a Miami Review, of Miami-Dade County, Florida; that the attached copy of advertisement, being a Legal Advertisement of Notice in the matter of

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COCO PALMS COMMUNITY DEVELOPMENT DISTRICT - FISCAL YEAR 2023/2024 REGULAR MEETING SCHEDULE

in the XXXX Court,
was published in a newspaper by print in the issues of Miami Daily Business Review f/k/a Miami Review on

10/23/2023

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Affiant further says that the newspaper complies with all legal  requirements	for  publication  in  chapter	50,  Florida

of

2023

Sworn to and subscribed before me this
(SEAL)
ROSANA SALGADO personally known to me

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COCO PALMS COMMUNITY DEVELOPMENT DISTRICT SPECIAL BOARD MEETING
OCTOBER 12, 2023

CALL TO ORDER

District Manager Armando Silva called the October 12, 2023, Special Board Meeting of the Coco Palms Community Development District (the “District”) to order at 6:36 p.m. in the Artesa Clubhouse located at 11690 SW 248th Street, Homestead, Florida 33032.

PROOF OF PUBLICATION

Armando Silva presented proof of publication that notice of the Regular Board Meeting had been published in the Miami Daily Business Review on October 2, 2023, as legally required.

ESTABLISH A QUORUM

Armando Silva determined that the attendance of the following Board Members constituted a quorum and it was in order to proceed with the meeting: Supervisors Monica Encinas, Charles Handal and Nilka Gomez.

Staff in attendance included: District Manager Armando Silva of Special District Services, Inc.; District Counsel Gregory George of Billing, Cochran, Lyles, Mauro & Ramsey, P.A..

ADDITIONS OR DELETIONS TO AGENDA

There were no additions or deletions to the agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA
There were no comments from the public for items not on the agenda.
APPROVAL OF MINUTES
September 5, 2023
Mr. Silva presented the September 5, 2023, Regular Board Meeting & Public Hearing minutes and asked if there were any comments and/or changes. There being no comments or changes, a motion was made by Mr. Handal, seconded by Ms. Gomez and unanimously passed approving the September 5, 2023, Regular Board Meeting & Public Hearing minutes, as presented.

NOTE: At approximately 6:37 p.m., Armando Silva recessed the Regular Meeting and simultaneously opened the Public Hearing.

OLD BUSINESS
Staff Report, as Required

There was no staff report at this time.

NEW BUSINESS

Consider Resolution No. 2023-07 – Adopting a Fiscal Year 2022/2023 Amended Budget

Ms. Nguyen presented Resolution No. 2023-07, entitled:

RESOLUTION NO. 2023-07

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COCO PALMS COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2022/2023 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER 189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

Mr. Silva read the title into the record and provided an explanation for the document. He indicated that there was an operating fund balance of approximately $110,506 at the end of the fiscal year. A discussion ensued after which:

A motion was made by Mr. Handal, seconded by Ms. Gomez and unanimously passed to adopt Resolution No. 2023-07, as presented, thereby setting the amended/revised budget for the 2022/2023 fiscal year.

Discussion Regarding Landscape Maintenance Proposals

Mr. Silva stated that he had obtained two (2) proposals pertaining to the Landscape and Irrigation Maintenance of the landscaping within the District.

Nicoya Lawnscaping – $31,200 (annually)
YS Maintenance Services - $36,139.50 (annually)
The Board discussed the proposals and suggested that the respective Associations maintain the District landscaping and that the District provide the Associations with a monetary contribution to offset the costs of the maintenance. A discussion ensued after which;

A motion was made by Ms. Gomez, seconded by Mr. Handal and unanimously approved, authorizing District Counsel to draft a Contribution Agreement between the District and the Isola and Artesa Homeowners Association; and thus approves a not to exceed contribution amount of
$13,000 per community (Isola and Artesa).

Discussion Regarding Holiday Lighting

Mr. Silva asked the Board if the Associations would be adding holiday lighting to the District medians or if the District would be providing these services. Ms. Gomez stated that the Association will continue to oversee the installation of holiday lighting for the communities.

ADMINISTRATIVE & OPERATIONAL MATTERS
	Consider Resolution No. 2023-06 – Adopting a Fiscal Year 2023/2024 Meeting Schedule
Armando Silva presented Resolution No. 2023-06, entitled:
RESOLUTION NO. 2023-06

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COCO PALMS COMMUNITY DEVELOPMENT DISTRICT, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2023/2024 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE.

Armando Silva read the title into the record and explained that the Board will now meet on the 4th
Monday of select months. A discussion ensued after which:

A motion was made by Ms. Gomez, seconded by Mr. Handal and unanimously passed to approve and adopt Resolution No. 2023-06, as presented.

BOARD MEMBER & STAFF CLOSING COMMENTS

Mr. Silva stated that the Chairperson and Vice-Chairperson were not in attendance so the Board would need to appoint a temporary Chairperson for the purpose of executing District documents. A discussion ensued after which;

A motion was made by Ms. Gomez, seconded by Mr. Handal and unanimously passed to appoint Monica Encinas as the temporary Chairperson for the purpose of executing District approved documents

ADJOURNMENT

There being no further business to come before the Board, a motion was made by Ms. Encinas, seconded by Ms. Gomez and passed unanimously to adjourn the Regular Board Meeting at approximately 7:13 p.m.

Secretary/Assistant Secretary	Chairperson/Vice-Chairperson

RESOLUTION NO. 2024-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COCO PALMS COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET AND NON-AD VALOREM SPECIAL ASSESSMENTS FOR FISCAL YEAR 2024/2025 AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (the “Board”) of the Coco Palms Community Development District (the “District”) is required by Section 190.008(2)(a), Florida Statutes, to approve a Proposed Budget for each fiscal year; and,

WHEREAS, the Proposed Budget including the Assessments for Fiscal Year 2024/2025 has been prepared and considered by the Board.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE COCO PALMS COMMUNITY DEVELOPMENT DISTRICT, THAT:

Section 1.  The Proposed Budget including the Assessments for Fiscal Year 2024/2025 attached hereto as Exhibit “A” is approved and adopted.

Section 2.  A Public Hearing is hereby scheduled for June 24, 2024 at 6:30 p.m. in the Artesa Clubhouse, located at 11590 SW 248th Street, Homestead, Florida 33032, for the purpose of receiving public comments on the Proposed Fiscal Year 2024/2025 Budget.

PASSED, ADOPTED and EFFECTIVE this 25th day of March, 2024.

ATTEST:	COCO PALMS
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

Coco Palms Community Development District

Proposed Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

PROPOSED BUDGET

II	DETAILED PROPOSED BUDGET

Ill	DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2016)

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2019)

ASSESSMENT COMPARISON

PROPOSED BUDGET
COCO PALMS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2024/2025 BUDGET	
Administrative Assessments	82,451	
Maintenance Assessments	68,723	
Debt Assessments (2016)	695,856	
Debt Assessments (2019)	400,000	
Other Revenues - Cost Share	9,800	
Interest Income	720	
		
TOTAL REVENUES	$	1,257,550	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	4,000	
Payroll Taxes	306	
Management	34,968	
Legal	12,000	
Assessment Roll	7,800	
Audit Fees	5,200	
Arbitrage Rebate Fee	1,300	
Insurance	8,000	
Legal Advertisements	2,200	
Miscellaneous	900	
Postage	425	
Office Supplies	550	
Dues & Subscriptions	175	
Trustee Fees	7,000	
Continuing Disclosure Fee	1,000	
Website Management	2,000	
Administrative Contingency	200	
		
Total Administrative Expenditures	$	88,024	
		
Maintenance Expenditures		
Annual Engineer's Report/Inspections	2,300	
Field Operations Management	1,200	
Lawn & Landscape Maintenance Contribution	26,000	
Irrigation System Maintenance/Upkeep	2,000	
Irrigation System - Water	5,000	
Roadway/Drainage System Maintenance/Upkeep	7,000	
Common Driveway Maintenance/Upkeep	10,000	
Fountain Maintenance/Upkeep	5,000	
FP&L Power/Utility	13,000	
Lake - Aquatic Maintenance	4,200	
Miscellaneous Maintenance	11,100	
		
Total Maintenance Expenditures	$	86,800	
		
TOTAL EXPENDITURES	$	174,824	
		
REVENUES LESS EXPENDITURES	$	1,082,726	
		
Bond Payments (2016)	(654,105)	
Bond Payments (2019)	(376,000)	
		
BALANCE	$	52,621	
		
County Appraiser & Tax Collector Fee	(24,940)	
Discounts For Early Payments	(49,881)	
		
EXCESS/ (SHORTFALL)	$	(22,200)	
		
Carryover Funds From Prior Year	22,200	
		
NET EXCESS/ (SHORTFALL)	$	

DETAILED PROPOSED BUDGET
COCO PALMS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2022/2023 ACTUAL	
FISCAL YEAR 2023/2024 BUDGET	
FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	
Administrative Assessments	90,246	84,607	82,451	Expenditures Less Interest & Cost Share/.94	
Maintenance Assessments	62,678	66,596	68,723	Expenditures Less Carryover/.94	
Debt Assessments (2016)	695,858	695,856	695,856	Bond Payments/.94	
Debt Assessments (2019)	400,002	400,000	400,000	Bond Payments/.94	
Other Revenues - Cost Share	9,800	5,000	9,800	Cost Share Revenue	
Interest Income	10,260	360	720	Interest Projected At $60 Per Month	
					
TOTAL REVENUES	$	1,268,844	$	1,252,419	$	1,257,550		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	1,000	4,000	4,000	Supervisor Fees	
Payroll Taxes	77	306	306	Supervisor Fees• 7.65%	
Management	32,976	33,960	34,968	CPI Adjustment (Capped at 3%)	
Legal	12,915	12,000	12,000	No Change From 2023/2024 Budget	
Assessment Roll	7,800	7,800	7,800	No Change From 2023/2024 Budget	
Audit Fees	4,800	5,000	5,200	Accepted Amount For 2023/2024 Audit	
Arbitrage Rebate Fee	1,300	1,300	1,300	No Change From 2023/2024 Budget	
Insurance	6,281	6,800	8,000	Fiscal Year 2023/2024 Expenditure Was $7,428	
Legal Advertisements	938	850	2,200	Costs Will Increase Due To Closing Of The Miami Business Review	
Miscellaneous	320	1,000	900	$100 Decrease From 2023/2024 Budget	
Postage	228	425	425	$25 Decrease From 2023/2024 Budget	
Office Supplies	424	575	550	$25 Decrease From 2023/2024 Budget	
Dues & Subscriptions	175	175	175	No Change From 2023/2024 Budget	
Trustee Fees	7,000	7,000	7,000	No Change From 2023/2024 Budget	
Continuing Disclosure Fee	1,000	1,500	1,000	$500 Decrease From 2023/2024 Budget	
Website Management	2,000	2,000	2,000	No Change From 2023/2024 Budget	
Administrative Contingency	0	200	200	No Change From 2023/2024 Budget	
					
Total Administrative Expenditures	$	79,234	$	84,891	$	88,024		
					
Maintenance Expenditures					
Annual Enginee(s Report/Inspections	1,203	2,300	2,300	No Change From 2023/2024 Budget	
Field Operations Management	1,200	1,200	1,200	No Change From 2023/2024 Budget	
Lawn & Landscape Maintenance Contribution	24,192	15,000	26,000	$11,000 Increase From 2023/2024 Budget	
Irrigation System Maintenance/Upkeep	0	2,000	2,000	No Change From 2023/2024 Budget	
Irrigation System - Water	0	5,000	5,000	No Change From 2023/2024 Budget	
Roadway/Drainage System Maintenance/Upkeep	17,825	7,000	7,000	No Change From 2023/2024 Budget	
Common Driveway Maintenance/Upkeep	0	10,000	10,000	No Change From 2023/2024 Budget	
Fountain Maintenance/Upkeep	50,458	5,000	5,000	No Change From 2023/2024 Budget	
FP&L Power/Utility	12,304	13,000	13,000	No Change From 2023/2024 Budget	
Lake - Aquatic Maintenance	3,525	4,200	4,200	No Change From 2023/2024 Budget	
Miscellaneous Maintenance	21,803	9,100	11,100	$2,000 Increase From 2023/2024 Budget	
					
Total Maintenance Expenditures	$	132,510	$	73,800	$	86,800		
					
TOTAL EXPENDITURES	$	211,744	$	158,691	$	174,824		
					
REVENUES LESS EXPENDITURES	$	1,057,100	$	1,093,728	$	1,082,726		
					
Bond Payments (2016)	(662,582)	(654,105)	(654,105)	2025 P & I Payments Less Earned Interest	
Bond Payments (2019)	(380,874)	(376,000)	(376,000)	2025 P & I Payments Less Earned Interest	
					
BALANCE	$	13,644	$	63,623	$	52,621		
					
County Appraiser & Tax Collector Fee	(12,003)	(24,941)	(24,940)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(47,649)	(49,882)	(49,881)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(46,008)	$	(11,200)	$	(22,200)		
					
Carryover Funds From Prior Year	0	11,200	22,200	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(46,008)	$	-	$		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2016)
COCO PALMS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	

FISCAL YEAR

2022/2023

ACTUAL	

FISCAL YEAR

2023/2024

BUDGET	

FISCAL YEAR

2024/2025

BUDGET	

COMMENTS	

Interest Income	
28,608	
250	
500	
Projected Interest For 2024/2025	

NAVTax Collection	
662,582	
654,105	
654,105	
Maximum Debt Service Collection	

Total Revenues	

$	691,190	

$	654,355	

$	654,605		

EXPENDITURES					

Principal Payments	
215,000	
225,000	
235,000	
Principal Payment Due In 2025	

Interest Payments	
442,050	
427,313	
416,963	
Interest Payments Due In 2025	

Bond Redemption	
0	
2,042	
2,642	
Estimated Excess Debt Collections	

Total Expenditures	

$	657,050	

$	654,355	

$	654,605		

Excess/ (Shortfall)	

$	34,140	

$	-	

$		

Series 2016 Bond Information

Original Par Amount = Interest Rate=
Issue Date= Maturity Date =

$10,355,000 3.75% - 5.00%
February 2016
May 2046

Annual Principal Payments Due=	May 1st
Annual Interest Payments Due =	May 1st & November 1st

Par Amount As Of 1/1/24 =	$9,005,000

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2019)
COCO PALMS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR

2022/2023

ACTUAL	
FISCAL YEAR

2023/2024

BUDGET	
FISCAL YEAR

2024/2025

BUDGET	

COMMENTS	

Interest Income	
18,487	
250	
500	
Projected Interest For 2024/2025	

NAV Tax Collection	
380,874	
376,000	
376,000	
Maximum Debt Service Collection	

Total Revenues	

$	399,361	

$	376,250	

$	376,500		

EXPENDITURES					

Principal Payments	
110,000	
115,000	
120,000	
Principal Payment Due In 2025	

Interest Payments	
266,456	
260,384	
255,900	
Interest Payments Due In 2025	

Bond Redemption	
0	
866	
600	
Estimated Excess Debt Collections	

Total Expenditures	

$	376,456	

$	376,250	

$	376,500		

Excess/ (Shortfall)	

$	22,905	

$	-	

$		

Series 2019 Bond Information

Original Par Amount = Interest Rate =
Issue Date= Maturity Date =

$5,915,000 3.5%- 5.00%
February 2019
June 2049

Annual Principal Payments Due =	June 15th
Annual Interest Payments Due =	June 15th & December 15th

Par Amount As Of 1/1/24 = $5,500,000

COCO PALMS COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Original Units		Fiscal Year 2021/2022
Assessment*					Fiscal Year 2022/2023
Assessment*				Fiscal Year 2023/2024
Assessment*				Fiscal Year
2024/2025
Projected Assessment*		

Administrative For Single Family Units		$	82.47				$	86.40				$	82.47				$	80.37		
Maintenance For Single Family Units		$	65.04				$	61.09				$	64.91				$	66.99		
Debt For Single Family Units		$	1,053.00				$	1,053.00				$	1,053.00				$	1,053.00		
Total For Single Family Units		$	1,200.51				$	1,200.49				$	1,200.38				$	1,200.36		
Administrative For Townhome Units		$	82.47				$	86.40				$	82.47				$	80.37		
Maintenance For Townhome Units		$	65.04				$	61.09				$	64.91				$	66.99		
Debt For Townhomes Units		$	948.00				$	948.00				$	948.00				$	948.00		
Total For Townhomes Units		$	1,095.51				$	1,095.49				$	1,095.38				$	1,095.36		
Administrative For Villa Units		$	82.47				$	86.40				$	82.47				$	80.37		
Maintenance For Villa Units		$	65.04				$	61.09				$	64.91				$	66.99		
Debt For Villa Units		$	843.00				$	843.00				$	843.00				$	843.00		
Total For Villa Units		$	990.51				$	990.49				$	990.38				$	990.36		
Expansion Area Units																	
Administrative For Townhome Units		$	82.47				$	86.40				$	82.47				$	80.37		
Maintenance For Townhome Units		$	65.04				$	61.09				$	64.91				$	66.99		
Debt For Townhomes Units		$	1,474.47				$	1,474.47				$	1,474.47				$	1,474.47		
Total For Townhomes Units		$	1,621.98				$	1,621.96				$	1,621.85				$	1,621.83		
Administrative For Villa Units		$	82.47				$	86.40				$	82.47				$	80.37		
Maintenance For Villa Units		$	65.04				$	61.09				$	64.91				$	66.99		
Debt For Villa Units		$	1,369.15				$	1,369.15				$	1,369.15				$	1,369.15		
Total For Villa Units		$	1,516.66				$	1,516.64				$	1,516.53				$	1,516.51		

* Assessments Include the Following :		
4% Discount for Early Payments		
1% County Tax Collector Fee		
1% County Property Appraiser Fee		
Community Information:		
Original Units		 Total Units	
Single Family Units	181	Original Units	743	
Townhomes Units	309	Expansion Area Units	283	
Villa Units	253	Total Units	1,026	
Total Units	743		
Expansion Area Units		 Townhomes (Original Units) Information	
Townhomes Units	119	Total Units	309	
Villa Units	164	Prepayments	1	
Total Units	283	Billed For Debt	308	

3/18/2024 11:06 AM	V

Ethics Training

Beginning in 2024, District Supervisors are required to complete four (4) hours of ethics training annually. Below are links to two training sessions that will, upon completion, satisfy the training requirement. Beginning with the 2024 Form 1, District Supervisors will be required to confirm that they have completed the training each year.

State Ethics Laws for Constitutional Officers & Elected Municipal Officers
https://www.youtube.com/watch?v=U8JktIMKzyI
Public Meetings and Public Records Law
https://www.myfloridalegal.com/sites/default/files/Full%2520audio%25 202018%5B2%5D.mp3

Both links can be found on SDS’ website, at www.sdsinc.org/links.

The Florida Association of Special Districts (FASD) also offers a training option through Florida State University’s Florida Institute of Government. If your special district is a member of FASD, the cost for this special district-specific ethics training is $49.00 for each district official.

If your special district is NOT a member of FASD, the cost for this special district-specific ethics training is $79.00 for each district official.
Information on the FASD course can be found at https://www.fasd.com/ethics-for- special-districts.

The Oaks Center · 2501A Burns Road · Palm Beach Gardens, FL 33410-5204	o: 561.630.4922 · f: 561.630.4923 · www.sdsinc.org Additional Offices: Miami · Bonita Springs · Tradition · West Villages · Ave Maria