K-Bar Ranch II Community Development District

Transcription

1 K-Bar Ranch II Community Development District Board of Supervisors Meeting August 9, 2018 District Office: 5844 Old Pasco Road, Suite 100 Wesley Chapel, FL

2 K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT AGENDA August 9, 2018 at 6:00 p.m. New Tampa Regional Library located at Cross Creek Blvd., Tampa, FL District Board of Supervisors Betty Valenti Chairman William Pizor Vice Chairman Chloe Firebaugh Assistant Secretary Kurt Wala Assistant Secretary Lee Thompson Assistant Secretary District Manager Matthew Huber Rizzetta & Company, Inc. District Counsel Andy Cohen Persson & Cohen, P.A. District Engineer Lara Bartholomew Heidt Design, LLC All Cellular phones and pagers must be turned off while in the meeting room. The District Agenda is comprised of five different sections: The meeting will begin promptly at 6:00 p.m. with the first section which is called Audience Comments. The Audience Comment portion of the agenda is where individuals may comment on matters that concern the District. Each individual is limited to three (3) minutes for such comment. The Board of Supervisors or Staff is not obligated to provide a res ponse until sufficient time for research or action is warranted. IF THE COMMENT CONCERNS A MAINTENANCE RELATED ITEM, THE ITEM WILL NEED TO BE ADDRESSED BY THE DISTRICT MANAGER OUTSIDE THE CONTEXT OF THIS MEETING. The second section is called Business Administration. The Business Adminis tration section contains items that require the review and approval of the District Board of Supervisors as a normal course of business. The third section is called Business Items. The business items section contains items for approval by the District Board of Supervisors that may require discussion, motion and votes on an item-by-item basis. The fourth s ection is called Staff Reports. This section allows the District Manager, Engineer, and Attorney to update the Board of Supervisors on any pending issues that are being researched for Board action. Occasionally, certain items for decis ion within this section are required by Florida Statute to be held as a Public Hearing. During the Public Hearing portion of the agenda item, each member of the public will be permitted to provide one comment on the issue, prior to the Board of Supervisors discussion, motion and vote. Agendas can be reviewed by contacting the Manager s office at (813) at least seven days in advance of the scheduled meeting. Requests to place items on the agenda mus t be s ubmitted in writing with an explanation to the District Manager at least fourteen (14) days prior to the date of the meeting. The final section is called Supervisor Requests. This is the section in which the Supervisors may request Staff to prepare certain items in an effort to meet residential needs. Public workshops sessions may be advertised and held in an effort to provide informational services. These sessions allow staff or consultants to discuss a policy or business matter in a more informal manner and allow for lengthy presentations prior to scheduling the item for approval. Typically no motions or votes are made during these sessions. Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this meeting is asked to advise the District Office at (813) , at least 48 hours before the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service at 1 (800) , who can aid you in contacting the District Office. Any person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that this same 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, including the testimony and evidence upon which the appeal is to be based.

3 K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT DISTRICT OFFICE 5844 OLD PASCO ROAD SUITE 100 WESLEY CHAPEL, FL Board of Supervisors August 2, 2018 K-Bar Ranch II Community Development District Dear Board Members: FINAL AGENDA The regular meeting of the Board of Supervisors of the K-Bar Ranch II Community Development District will be held on Thursday, August 9, 2018 at 6:00 p.m. at the New Tampa Regional Library located at Cross Creek Blvd. Tampa, FL The following is the final agenda for the meeting. 1. CALL TO ORDER/ROLL CALL 2. AUDIENCE COMMENTS 3. BUSINESS ADMINISTRATION A Consideration of the Minutes of the Board of Supervisors Meeting held on June 14, Tab 1 B. Consideration of the Minutes of the Board of Supervisors Continued Meeting held on June 22, Tab 2 B. Consideration of the Operation and Maintenance Expenditures for June Tab 3 4. BUSINESS ITEMS A. Review of Operation and Maintenance Assessment Allocation Report..Tab 4 B. Public Hearing on Fiscal Year 2018/2019 Budgets 1. Consideration of Resolution , Adopting Fiscal Year 2018/2019 Budgets and Certifying an Assessment Roll... Tab 5 C. Public Hearing on Fiscal Year 2018/2019 Assessments 1. Consideration of Resolution , Levying Assessments to Fund Fiscal Year 2018/2019 Budgets and Certifying an Assessment Roll..Tab 6 D. Consideration of Resolution , Setting the Meeting Schedule for Fiscal Year 2018/2019 Tab 7 E. Consideration of K-Bar Ranch II Interlocal Agreement (under separate cover) F. Consideration of Vivicon Contract...Tab 8 5. STAFF REPORTS A. District Counsel B. District Engineer C. District Manager 6. SUPERVISOR REQUESTS 7. ADJOURNMENT We look forward to seeing you at the meeting. In the meantime, if you have any questions, please do not hesitate to call us at (813)

4 K-Bar Ranch Community Development District Agenda, August 9, 2018 Page 2 Cc: Andy Cohen, Persson & Cohen, P.A. Betty Valenti, Chairman Sincerely, Matthew Huber Matthew Huber District Manager

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6 K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT June 14, Minutes of Meeting Page MINUTES OF MEETING Each person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based. K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT The regular meeting of the Board of Supervisors of the K-Bar Ranch II Community Development District was held on Thursday, June 14, 2018 at 1:30 p.m. at the office of M/I Homes, located at 4343 Anchor Plaza Parkway, Suite 200, Tampa, FL Present and constituting a quorum were: Betty Valenti Bill Pizor Lee Thompson Chloe Firebaugh Also present were: Matthew Huber Angel Montagna Andy Cohen Lara Bartholomew FIRST ORDER OF BUSINESS Mr. Huber called the meeting to order and conducted roll call. SECOND ORDER OF BUSINESS There were no audience members present. THIRD ORDER OF BUSINESS Board Supervisor, Chairman Board Supervisor, Vice Chairman Board Supervisor, Assistant Secretary Board Supervisor, Assistant Secretary Regional District Manager, Rizzetta & Co. District Manager, Rizzetta & Co. District Counsel, Persson & Cohen (via conference call) District Engineer, Heidt Design (via conference call) Call to Order Audience Comments Consideration of Minutes of the Board of Supervisors Meeting held on May 10, 2018 Mr. Huber presented the Minutes of the Board of Supervisors Meeting held on May 10, 2018 to the Board of Supervisors. On a Motion by Ms. Valenti, seconded by Mr. Thompson, with all in favor, the Board of Supervisors for K-Bar Ranch II Community Development District approved the Minutes of the Board of Supervisors Meeting held on May 10, 2018 as presented, for K-Bar Ranch II Community Development District.

7 K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT June 14, Minutes of Meeting Page FOURTH ORDER OF BUSINESS Consideration of the Operation and Maintenance Expenditures for April 2018 Mr. Huber presented the Operation and Maintenance Expenditures for April 2018 to the Board of Supervisors. On a Motion by Ms. Valenti, seconded by Mr. Firebaugh, with all in favor, the Board of Supervisors for K-Bar Ranch II Community Development District approved the Operation and Maintenance Expenditures for March 2018 in the amount of $36,010.82, for K-Bar Ranch II Community Development District. FOURTH ORDER OF BUSINESS Consideration of Assessment Tables and Charts for the Proposed Budget Mr. Huber presented the Assessment Tables and Charts for the Proposed Budget to the Board of Supervisors. On a Motion by Ms. Firebaugh, seconded by Ms. Valenti with all in favor, the Board of Supervisors for K-Bar Ranch II Community Development District approved the Assessment Tables and Charts for the Proposed Budget, for K-Bar Ranch II Community Development District. SIXTH ORDER OF BUSINESS Consideration of Joinder, Acknowledgement and Consent to Subdivision Agreement for Parcel N Mr. Huber presented Joinder Acknowledgement and Consent to Subdivision Agreement for Parcel N to the Board of Supervisors. On a Motion by Ms. Valenti, seconded by Mr. Thompson, with all in favor, the Board of Supervisors for K-Bar Ranch II Community Development District approved Joinder, Acknowledgement and Consent to Subdivision Agreement for Parcel N, for K-Bar Ranch II Community Development District. SEVENTH ORDER OF BUSINESS Consideration of Joinder, Acknowledgement and Consent to Subdivision Agreement for Parcel J Mr. Huber presented Joinder Acknowledgement and Consent to Subdivision Agreement for Parcel J to the Board of Supervisors. On a Motion by Ms. Valenti, seconded by Mr. Thompson, with all in favor, the Board of Supervisors for K-Bar Ranch II Community Development District approved Joinder, Acknowledgement and Consent to Subdivision Agreement for Parcel J, for K-Bar Ranch II Community Development District. THIRTEENTH ORDER OF BUSINESS Staff Reports A. District Counsel Mr. Cohen presented the Statewide Mutual Aid Agreement to the Board of Supervisors.

8 K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT June 14, Minutes of Meeting Page On a Motion by Ms. Valenti, seconded by Mr. Thompson, with all in favor, the Board of Supervisors for K-Bar Ranch II Community Development District approved the Statewide Mutual Aid Agreement, for K- Bar Ranch II Community Development District. B. District Engineer Not present C. District Manager Mr. Huber presented the Contract for Field Services to the Board of Supervisor. On a Motion by Ms. Valenti, seconded by Ms. Firebaugh, with all in favor, the Board of Supervisors for K-Bar Ranch II Community Development District approved the Contract for Field Services, for K-Bar Ranch II Community Development District. THIRTEENTH ORDER OF BUSINESS Continuance On a Motion by Mr. Thompson, seconded by Ms. Valenti with all in favor, the Board of Supervisors continue the meeting on June 22, 2018, at 9:00 a.m., for K-Bar Ranch II Community Development District. Secretary / Assistant Secretary Chairman / Vice Chairman

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10 K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT June 22, Minutes of Meeting Page MINUTES OF MEETING Each person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based. K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT The regular meeting of the Board of Supervisors of the K-Bar Ranch II Community Development District was held on Thursday, June 22, 2018 at 9:00 a.m. at the office of M/I Homes, located at 4343 Anchor Plaza Parkway, Suite 200, Tampa, FL Present and constituting a quorum were: Betty Valenti Bill Pizor Lee Thompson Also present were: Matthew Huber Andy Cohen FIRST ORDER OF BUSINESS Mr. Huber called the meeting to order and conducted roll call. SECOND ORDER OF BUSINESS There were no audience members present. THIRD ORDER OF BUSINESS Board Supervisor, Chairman Board Supervisor, Vice Chairman Board Supervisor, Assistant Secretary Regional District Manager, Rizzetta & Co. District Counsel, Persson & Cohen (via conference call) Call to Order Audience Comments Consideration of Assessment Tables and Charts for the Proposed Budget Mr. Huber presented the Assessment Tables and Charts for the Proposed Budget to the Board of Supervisors. On a Motion by Ms. Valenti, seconded by Mr. Thompson, with all in favor, the Board of Supervisors for K-Bar Ranch II Community Development District approved the Assessment Tables and Charts for the Proposed Budget, for K-Bar Ranch II Community Development District. FOURTH ORDER OF BUSINESS A. District Manager Staff Reports Mr. Huber informed the Board of Supervisors that there were 21 registered voters as of April 15, Mr. Huber reminded the Board of Supervisors that their next meeting is scheduled for July 12, 2018, at 9:00 a.m.

11 K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT June 22, Minutes of Meeting Page FIFTH ORDER OF BUSINESS Adjournment Mr. Huber stated that if there was no further business to come before the Board then a motion to adjourn would be in order. On a Motion by Ms. Valenti, seconded by Mr. Pizor with all in favor, the Board of Supervisors adjourned the meeting at 9:06 a.m.., for K-Bar Ranch II Community Development District. Secretary / Assistant Secretary Chairman / Vice Chairman

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13 K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT DISTRICT OFFICE CITRUS PARK LANE SUITE 115 TAMPA, FLORIDA Operations and Maintenance Expenditures June 2018 For Board Approval Attached please find the check register listing the Operation and Maintenance expenditures paid from June 1, 2018 through June 30, This does not include expenditures previously approved by the Board. The total items being presented: $48, Approval of Expenditures: Chairperson Vice Chairperson Assistant Secretary

14 K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT Paid Operation & Maintenance Expenditures June 1, 2018 Through June 30, 2018 Vendor Name Check Number Invoice Number Invoice Description Invoice Amount Bright House Networks Mistflower Ln 04/18 $ Bright House Networks Mistflower Ln 05/18 $ Bright House Networks Mistflower Ln 06/18 $ Bright House Networks K-Bar Ranch PKWY Bldg $ Gate 04/18 Bright House Networks K-Bar Ranch PKWY Bldg $ Gate 05/18 Bright House Networks K-Bar Ranch PKWY Bldg $ Gate 06/18 Bright House Networks K-Bar Ranch Pkwy Bldg Gate $ /18 Bright House Networks K-Bar Ranch Pkwy Bldg Gate $ /18 Bright House Networks K-Bar Ranch Pkwy Bldg Gate $ /18 Hidden Eyes, LLC Gate Monitoring Parcel C 05/18- $ 3, /18 Hidden Eyes, LLC Gate Monitoring Parcel K 04/18- $ 3, /18 Hidden Eyes, LLC Gate Monitoring Parcel L 05/18-07/18 $ 3, Horner Environmental Aquatics Maintenance 04/18 $ 7, Professionals, Inc. Lee R. Thompson LT Board of Supervisors Meeting $ /28/18 Lee R. Thompson LT Board of Supervisors Meeting $ /14/18 Persson & Cohen, P.A Persson 05/18 Legal Services 05/18 $ 1, Rizzetta & Company, Inc INV District Management Fees 06/18 $ 3, Rizzetta & Company, Inc INV Landscape Turnover Inspections $ 1, Rizzetta Technology Services, INV Website Development & Hosting $ LLC Services 06/18 Vivicon Inc Irrigation Repairs/SOD $ 6, Vivicon Inc Grounds & Irrigation Maintenance $ 13, /18 Vivicon Inc Fertilize Turf 05/18 $ Vivicon Inc Pest Control 06/18 $ 1, Vivicon Inc Grounds & Irrigation Maintenance Addendum 05/18 & 06/18 $ 1, Report Total $ 48,728.69

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52 K-Bar Ranch II Community Development District Operations and Maintenance Assessment Allocation Report Citrus Park Lane Suite 115 Tampa, FL rizzetta.com August 9, 2018

53 TABLE OF CONTENTS Page I. OVERVIEW II. DEFINED TERMS III. ALLOCATION METHODOLOGY IV. MODIFICATIONS AND REVISIONS... 4 V. ADDITIONAL STIPULATIONS 5 EXB A REPORT OF DISTRICT ENGINEER.. 6 EXB B PROPOSED GENERAL FUND BUDGET.. 40 EXB C PROPOSED ASSESSMENT TABLE.. 42 EXB D PROPOSED ASSESSMENT ROLL

54 K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT OPERATIONS AND MAINTENANCE ASSESSMENT ALLOCATION REPORT I. OVERVIEW This Proposed Operations and Maintenance Allocation Report relates to the proposed Fiscal Year Maintenance Special Assessments for the K-Bar Ranch II Community Development District ( District ). The District consists of approximately 861 total acres, on which it is currently contemplated that a total of 980 residential units are planned. The District has previously issued Series 2017A Bonds ( District Bonds ) to fund various portions of the construction and/or acquisition of District infrastructure. It is contemplated that the District will either issue additional bonds, or the developer will fund, the remaining infrastructure to be constructed. The Maintenance Special Assessments described by this report are used to fund the District s General Fund, which is based on the General Fund budget adopted annually by the District s Board of Supervisors. The Maintenance Special Assessments are levied in addition to any Debt Service Assessments associated with District bonds. II. DEFINED TERMS Fiscal Year The District s Fiscal Year starting October 1 st September 30 th. and ending Administrative Budget - The District will incur expenditures for the day to today operation of District matters. These expenses include, but are not limited to, Management, Legal Services, Engineering Services, Advertising and Bondassociated Expenses. Debt Service Assessments - Assessment levied to repay the debt associated with the District s Series 2017A Special Assessment Bonds. "District" K-Bar Ranch II Community Development District. Equalized Field Expenses Expenses within the Field Operations Budget that provide equal benefit to all Platted Units regardless of lot size or product type. Field Operations Budget The District will incur expenses for the ongoing maintenance and operations of certain field expenses that are the responsibility of the District. Examples of these expenses included, but are not limited to, Security Operations, Utilities, Stormwater Management, Landscaping, etc.

55 General Fund Monies used by the District to fund the costs of conducting District business and maintaining District infrastructure. General Fund Budget The annual operating budget adopted by the District s Board of Supervisors reflecting the expected expenditures of the District which are unrelated to construction of infrastructure. General Fund Expenses Expenses for services reflected on the District s General Fund Budget. Maintenance Special Assessments Operations and Maintenance Assessments levied to fund the District s General Fund. Platted Field Budget Those expenses that provide a special and peculiar benefit to the Platted Units within the District. Platted Units - Units which have been platted into their final end-use configuration. Stratified Field Expenses Expenses within the General Fund Budget that provide benefit to the units based on the front footage, square footage, or an alternative method, of the units to be assessed. Unplatted Units - Units within undeveloped parcels or units within developed parcels which have not been platted into their final end use configuration. III. ALLOCATION METHODOLOGY Unlike property taxes, which are ad valorem in nature, a community development district may levy special assessments under Florida Statues Chapters 170, 190 and 197 only if the parcels to be assessed receive special benefit from the infrastructure improvements constructed or acquired by the District and the maintenance and operations of said improvements. This report will focus on the maintenance of the improvements and operations of the District and provide for the method in which assessments will be levied to pay for these costs. The District has full authority to levy these Maintenance Special Assessments. Specifically, per F.S (3) Maintenance Special Assessments to maintain and preserve the facilities and projects of the district, the board may levy a maintenance special assessment The amount of the maintenance special assessment shall be determined by the board based upon a report of the district s engineer and assessed by the board upon such lands, which may be all of the lands within the district benefited by the maintenance thereof, apportioned between the benefited lands in proportion to the benefits received by each tract of land. The board adopted the report of the district s engineer on August 7, 2017, Exhibit A to this report, which among other things determined that the District will be constructing or acquiring improvements that provide benefit to all properties within the boundaries of the District.

56 As described above, the District has the authority to levy a Maintenance Special Assessment only if the properties assessed receive a special benefit from the improvements paid for via the assessments. Secondly, the assessments must be fairly and reasonably allocated to the properties being assessed. If these two requirements are met, Florida law provides the District s board of supervisors with the ability to use discretion in determining the allocation of the assessments as long as the manner in which the board allocates the assessments is fairly and reasonably determined. A. Benefit Analysis F.S states that Special assessments against property deemed to be benefited by local improvements, shall be assessed upon the property specially benefited by the improvement in proportion to the benefits to be derived therefrom, said special benefits to be determined and prorated according to the foot frontage of the respective properties specially benefited by said improvement, or by such other method as the governing body of the municipality may prescribe. The District proposes to allocate the Maintenance Special Assessments for the 2019 Fiscal Year to all applicable units within the District. It has been determined that all units receive special benefit from all services associated with the Administrative Budget, regardless whether the units are Platted or Unplatted or whether such lands are encumbered by Debt Service Assessments associated with the District s bonds. However, the manner in which the assessments will be levied for the Field Operations Budget is determined on the benefit provided by the specific expense in the District s General Fund Budget as more specifically described below. Only Platted Units receive benefit from the Field Operations Budget, therefore the Unplatted Units are not assessed for these expenses. The Equalized Field Expenses of the District s General Fund Budget will be allocated to Platted Units only on an equal assessment per unit basis for select field expenses. It has been determined that each Platted Unit receives similar special benefit for these services. Examples of these Equalized Field Expenses are security, utilities, common area landscaping and contengencies. The Stratified Expenses of the District s General Fund Budget will be allocated based on stratification by lot size. It has been determined that the special benefit received from the services associated with the Stratified Expense is similar among same sized lots. The larger lot sizes receive more benefit from these expenses due to the amount of surface area served by the improvement and thus a higher assessment. Examples of these expenses are neighborhoodspecific roadways, street lights and sidewalks, if district maintained and stormwater maintenance.

57 Allocation of Field Expenses Equalized Expenses Expense Categories Security, Utilities, Common Area Landscaping and Contingencies Stormwater Maintenance, Neighborhood Stratified Expenses Roadways, Sidewalks and Street Lights For a detailed list, please see the Proposed General Fund Budget The aggregate per unit Equalized and Stratified Expenses will be the total Maintenance Special Assessment per unit. For a detailed list of which General Fund Expenses are considered Equalized Expenses or Stratified Expenses, please refer to the General Fund Budget attached as Exhibit B. It is estimated that the District s General Fund Expenses that will be subject to the Maintenance Special Assessments for the 2019 Fiscal Year will be approximately $522,025, of this amount $156,625 is comprised of Administrative Expenses to be assessed to all products as Equalized Expenses, $125,400 of the Field Operations Budget to be assessed to all Platted Units as Equalized Expenses, $10,000 of Stratified Expenses to be assessed based on front footage of the benefited lots and finally $230,000 of the contingencies to be assessed to all Platted Units as Equalized Expenses. These amounts will be increased to provide for the Hillsborough County collection costs, currently at 2% of the total assessment roll, and for the statutory early payment discounts of 4%, for a total grossed up amount of 6%. This percentage may fluctuate as prescribed by state law. This results in a per unit proposed Maintenance Special Assessment of $ for the Villa lots, $ for the Single Family 50 lots and $ for the Single Family 65 lots for Fiscal Year , and subject to fluctuation in future years depending on the amount of the budget and the classification of the expenses. Please see the proposed assessment table in Exhibit B for more detail. IV. MODIFICATIONS AND REVISIONS Any modifications or revisions to the Operations and Maintenance Assessment Allocation would be determined by the Board of Supervisors only, at a public meeting. This adopted methodology will remain in effect for all future years, unless modified by the Board of Supervisors; therefore, this report will be retained within the District s records and will not be presented for re-adoption on an annual basis. The assessment levels are subject to fluctuation each fiscal year but the manner of applying the assessments shall remain the same, unless amended as referenced above.

58 V. ADDITIONAL STIPULATIONS Certain development and engineering data were provided by members of District staff and/or the developers of the District. The allocation methodology described herein was based on information provided by those professionals. Rizzetta & Company, Inc. makes no representations regarding said information transactions beyond restatement of the factual information necessary for compilation of this report. Rizzetta & Company, Inc. does not represent K-Bar Ranch II Community Development District as a Municipal Advisor or Securities Broker nor is Rizzetta & Company, Inc. registered to provide such services as described in Section 15B of the Securities and Exchange Act of 1934, as amended. Similarly, Rizzetta & Company, Inc., does not provide the K-Bar Ranch II Community Development District with financial advisory services or offer investment advice in any form.

59 EXHIBIT A DISTRICT ENGINEER S REPORT

60 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 August 07, 2017 Board of Supervisors K-Bar Ranch II Community Development District RE: K-Bar Ranch II Community Development District Engineer s Report Dear Madam Chairwoman: Pursuant to the Board of Supervisor s authorization, Heidt Design, LLC is pleased to submit this Master Engineer s Report for the proposed improvements for the K-Bar Ranch II Community Development District. This report has been prepared on behalf of the District in connection with the financing for these proposed improvements. A detailed description of the improvements and their corresponding estimates of costs are outlined in the following report. Thank you for this opportunity to be of professional service. Sincerely, HEIDT DESIGN, LLC Lara G. Bartholomew, P.E. Project Manager LB/ls Attachments C: Mark Spada, M/I Homes of Tampa, LLC Andy Cohen, Persson & Cohen Scott Steady, Burr Scott Brizendine, Rizzetta Matt Huber, Rizzetta Angel Montagna, Rizzetta Dawn Valley, Rizzetta Robbie Cox, MBS Capital Markets Ed Bulleit, MBS Capital Markets Misty Taylor, Bryant Miller Olive Tim Plate, Heidt Design Electronic File R:\K-Bar\CDD\Correspondence\WORKING FILE\Engineers Report\cdd-engineers-report docx

61 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT MASTER ENGINEER S REPORT Prepared for: BOARD OF SUPERVISORS K-Bar Ranch II Community Development District Prepared by: DRAFT August 07, 2017

62 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 3 TABLE OF CONTENTS Page # TRANSMITTAL LETTER INTRODUCTION INFRASTRUCTURE IMPROVEMENTS...6 Master Improvements Subdivision Improvements 3.0 OWNERSHIP AND MAINTENANCE PERMIT STATUS SUMMARY OF COSTS ENGINEER S OPINION APPENDIX A. Legal Description B. Vicinity Map C. Master Plan TABLES Table 1. Product Distribution and Phasing Plan Table 2. Master Infrastructure Phasing Table 3. K-Bar Ranch Ownership & Maintenance Matrix Table 4. Permit Status Table 5. District Engineer s Opinion of Cost R:\K-Bar\CDD\Correspondence\WORKING FILE\Engineers Report\cdd-engineers-report docx

63 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page INTRODUCTION K-Bar Ranch is a master planned development project located on a parcel of land approximately 861 acres in size, located between Kinnan Street and Morris Bridge Road in the City of Tampa as shown in the Vicinity Map contained in Appendix B. The entire area is zoned Planned Development Alternative (PD-A). The K-Bar Ranch community will consist of multiple residential neighborhoods and various recreational amenities. The K-Bar Ranch II Community Development District ( District ) parcel is located in Sections 2, 3, and 4, Township 27 South, Ranch 20 East, Hillsborough County, Florida further described by the legal description of the property attached as Appendix A. The portion of K-Bar Ranch that is located within the District is referred to as the Development. The District was created to provide an efficient funding and long-term maintenance mechanism for the public infrastructure to support the Development. A master plan of the overall K-Bar Ranch project is attached as Appendix C of this report. The current master plan for the Development contains approximately 934 housing units and various recreational and support facilities. The proposed product mix and phasing of the residential components of the Development can be found in Table 1 of this report, while proposed phasing of the master improvements is listed in Table 2. Detailed permit information being found in Table 4 of this report. The current PD-A approval allows for up to 1400 housing units along with 20,000 sf of residential support. The purpose of this report is to provide a description of the improvements that may be financed by the District ( the Capital Improvement Project (CIP) ). Refer to Table 5 in this report for a cost summary of the CIP, with a breakdown by phase. Public infrastructure and land improvements needed to service the Development include construction of approximately 2.9 miles of K-Bar Ranch Parkway, approximately 0.5 miles of the Mansfield Boulevard extension, Paddock View Drive extension, Mistflower Lane extension, and a portion of the Loop Road and other minor collector roadways, four (4) offsite roadway improvements, five (5) sewage pump stations and associated force mains, wetland mitigation, threatened species mitigation, surface water management, entry monumentation, landscaping and irrigation, and recreational facilities. Construction of the CIP commenced in November 2015 and is anticipated to be complete by December Phase I, for

64 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 5 which work has commenced, is expected to be completed by the last quarter of Phase II, for which commencement of work has started or is imminent, is expected to be completed by the second quarter of A breakdown of the master infrastructure by phase is provided in Table 2. Table 1. Product Distribution & Phasing Parcel Identification Product Size Totals Parcel Neighborhood Name Villa 40 x x x x 120 Phase 1 (Start 11/2015, Finish 11/2017) C Hawk Valley K Winsome Manor L Briarbrook Phase 1 Subtotal Phase 2 (Start 06/2017, Finish 06/2019) A Redwood Point M Mossy Pine N Sundrift Phase 2 Subtotal Phase 3 (Start 06/2018, Finish 12/2021) D Eagle Creek G Gilded Woods J Old Spanish Phase 3 Subtotal Phase 4 (Start 04/2020, Finish 2025) I Sundrift H Phase 4 Subtotal Total This Engineer s Report reflects the District s present intentions. The implementation and completion of any improvement outlined in this report requires final approval by the District s Board of Supervisors, including the award of contracts for the construction of the improvements. Cost estimates contained in this report have been prepared based on the best available information. These estimates may not reflect final engineering design or complete environmental permitting. Actual costs will vary based upon final plans, design, planning, approvals from regulatory authorities, inflation, etc. Nevertheless, all costs contained herein may be reasonably expected

65 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 6 to adequately fund the CIP described and the contingency costs included are reasonable. Table 2. Master Infrastructure Phasing Phase 1 (Start 11/2015, Finish 11/2017) Cross Creek Boulevard & Kinnan Street Improvements (aka Transportation Improvement A) K-Bar Ranch Parkway Segment C Paddock View Drive Phase 1 Mistflower Lane Segment 1 Pump Stations 1 & 2 Phase 2 (Start 06/2017, Finish 06/2019) Mistflower Lane Segments 2, 3, & 4 Paddock View Drive Phase 2 Pump Station 3 Phase 3 (Start 06/2018, Finish 12/2021) Mistflower Lane Segment 5 K-Bar Ranch Parkway Segment D K-Bar Ranch Parkway Segment F Phases 1 & 2 Meadow Pointe Boulevard Extension Mansfield Blvd/Kinnan St Connection (aka Transportation Improvement B) Pump Station 4 Amenity Center, Phase 1 Phase 4 (Start 04/2020, Finish 04/2025) K-Bar Ranch Parkway Segment G "Loop" Road Pump Station 5 Amenity Center, Phase 2 As of the date of this Master Engineer s Report, property within the District is owned by both M/I Homes of Tampa, LLC ( M/I ) and Krusen-Douglas, L.L.C. ( K-D ). A portion of the CIP is located on lands owned by K-D. M/I is the current developer and has a contract to purchase land within the District from K-D ( Contract ). In accordance with the Contract, any CDD debt assessment on K-D s District Land is conditioned on the occurrence of a Cessation Event. Once a Cessation event has occurred, the contractual restriction on K-D s applicable District Land will cease. A Cessation Event shall be defined as the occurrence of any of the following: (i) October 31, 2021;

66 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 7 (ii) the transfer of ownership of any of the K-D District Lands to a third party but only as to the portion of the K-D District Lands transferred; (iii) K-D shall have consented to the levying of any CDD-related assessments against any portion of the K-D District Lands but only as to the portions for which consent has been granted; (iv) M/I timely elects to acquire any portion of the K-D District Lands and K- D fails to sell such K-D District Lands to M/I under the Contract, and such default continues beyond any applicable notice and cure period, but only as to the portion of the K-D District Lands that M/I elected to (v) acquire; development of the K-D District Lands, but only as to the portion of the K-D District Lands that are developed; or (vi) such time as Qualified Electors (as that term is defined in Chapter 190, F.S.) are entitled to elect a majority of the Board of Supervisors of the District. 2.0 INFRASTRUCTURE IMPROVEMENTS The District presently intends to contribute certain public infrastructure improvements necessary to serve the Development. Additionally, offsite improvements required within the Development Agreement (DA) shall also be included in the CIP. A portion of these improvements will be funded by the Developer and then provided to the District. The DA in place mandates a portion of these improvements. The construction and maintenance of the proposed improvements are necessary and will benefit the lands within the District. A more specific description of each of these items follows and the related costs are provided in Table 5. MASTER INFRASTRUCTURE ROADS AND STREETS The District presently intends to provide funding for the master transportation or roadway facilities required to support the Development, except that portion claimed for impact fee credits by the Developer. Per the DA, some of the required improvements are located within the District, while others are located outside of the District boundaries. Street lights will be installed along all master roadway facilities; however, the District will not fund the installation of the lighting. A description of each facility follows:

67 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 8 K Bar Ranch Parkway (onsite and offsite): K-Bar Ranch Parkway is a City Collector roadway that will connect Kinnan Street and Morris Bridge Road through the Development, connecting to the existing segment of roadway within the existing K-Bar Ranch Community Development District. The ultimate proposed cross-section consists of a 120-foot right-of-way with four lanes of pavement divided by a central median. The cross section also includes a 5 sidewalk on one side and 8 wide sidewalk on the other. Upon connection to Morris Bridge Road, offsite improvements, including turn lanes and associated stormwater improvements, will be required. Lastly, the DA requires installation of five (5) traffic signals at intersections along this stretch of roadway if warrants are met prior to the final Certificate of Occupancy. It is anticipated that three of these signals will meet warrants and need to be funded by the District. The District intends to fund two lanes of the onsite roadway, along with any needed turn lanes and all offsite portions of the roadway infrastructure needed to support these 2 lanes. The City will fund and/or construct the remaining 2 lanes. Construction of the first phase of these improvements commenced in November 2015 and construction is in progress at the time of preparation of this Engineer s Report. Meadow Pointe Boulevard (onsite and offsite): Meadow Pointe Boulevard is a City collector roadway that will connect K-Bar Ranch Parkway to the existing segment of Meadow Pointe Boulevard within Pasco County. The proposed cross-section within the City of Tampa consists of a 120-foot rightof-way with four lanes of pavement divided by a central median. The cross section also includes a 5 sidewalk on one side and 8 wide sidewalk on the other. The right-of-way within Pasco County is 140 wide and contains a 10 multiuse path (instead of the 8 sidewalk) on one side. The connection to the existing portion of Meadow Pointe Boulevard will require realignment of existing pavement between the county line and the intersection at Beardsley Drive. Additionally, offsite improvements at this intersection, including turn lanes and associated stormwater improvements, may be required. The District intends to fund two lanes of the onsite roadway, along with any needed turn lanes and all offsite portions of the roadway infrastructure needed to support these 2 lanes. The City will fund and/or construct the remaining 2 lanes. Permitting of improvements within the District limits is in progress at the time of preparation of this Engineer s Report. Mistflower Lane (onsite): Mistflower Lane is the central subdivision collector roadway that will serve as the primary entrance roadway for Parcels

68 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 9 J, K, L, M, and N and provide access to the amenity site. (Note that Parcels A, C, D, G, and I are accessed directly from K-Bar Ranch Parkway). The collector is an extension of an existing residential roadway within the adjacent Bassett Creek subdivision, but only that portion of it within the District boundary functions as a collector roadway. The residential portion of the roadway terminates at a proposed roundabout that is also part of the collector roadway system. The District intends to provide the full length of the collector roadway within the District boundaries as part of master infrastructure funding. Construction of the first phase of the Mistflower Lane extension commenced in November 2016 and construction is in progress at the time of preparation of this Engineer s Report. Paddock View Drive: Paddock View Drive is the central subdivision collector roadway that connects K-Bar Ranch Parkway to a proposed roundabout at Mistflower Lane and continuing southward the future City Park site. The collector is an extension of an existing residential roadway within the adjacent Heron Preserve subdivision, but only that portion of it within the District boundary functions as a collector roadway. The residential portion of the roadway terminates at K-Bar Ranch Parkway, outside of the District boundaries. Between K-Bar Ranch Parkway and Mistflower Lane, the roadway will serve as the primary entrance roadway (along with Mistflower Lane) for Parcels J, K, L, M, and N and provide access to the amenity site. The proposed crosssection for this portion of the subdivision collector roadway consists of an 80- foot right-of-way with two lanes of pavement divided by a central median. South of the roundabout, the proposed cross-section consists of a 70-foot right of way with two undivided lanes of pavement. The District intends to provide funding for the entire length of the collector roadway as part of its master infrastructure funding. Construction of the first phase of the Paddock View Drive extension commenced in November 2016 and construction is in progress at the time of preparation of this Engineer s Report. The Loop Road (offsite): The so-called Loop Road is a subdivision collector roadway located east of and abutting the District. The western line of its future right-of-way forms a portion of the District s eastern border and follows along the eastern border of the adjacent Easton Park Community Development District. This roadway is shared with future development on lands that are outside the District; however, the southern 2,200 linear feet of it

69 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 10 (commencing at K-Bar Ranch Parkway) is needed by the District to provide access into Parcel H and is a required obligation of the DA. The Loop Road lands are outside the District, but the landowners within the District have been granted an easement over the Loop Road s alignment to allow for its construction and use. The proposed cross-section consists of a 70-foot access easement with three undivided lanes of pavement. The District intends to provide funding of that portion of the Loop Road providing access into Parcel H. No Loop Road improvements have been made at this time nor has design or permitting commenced. Mansfield Boulevard/Kinnan Street Connection (offsite): As part of the DA, the connection of existing Kinnan Street in Hillsborough County is to be made with the existing Mansfield Boulevard in Pasco County, subject to approval by Pasco County. The DA refers to this improvement as Transportation Improvement B (TI B). The District intends to provide approximately 220 linear feet of improvements for this roadway connection, including the necessary transitions from the four lane divided typical section within Hillsborough County to the two lane undivided typical section within Pasco County. No improvements have been made at this time; however, design has been completed and permits have been issued by Hillsborough County and the City of Tampa. A permit application has been submitted to Pasco County. Kinnan Street and Cross Creek Boulevard Intersection Improvements (offsite): As a requirement of the DA, intersection improvements including turn lane extensions and pedestrian crossing improvements at Cross Creek Boulevard and Kinnan Street are required. The DA refers to this improvement as Transportation Improvement A (TI A). The Developer has completed the construction of this improvement. The City has accepted the completed improvement and all warranty bonds have been released. WATER AND WASTEWATER As represented by the City of Tampa Water and Wastewater Departments, water and sewer capacity for this project is available. Water Distribution System: The primary source of water for the Development is a 24 inch water transmission main along the south side of K- Bar Ranch Parkway. Additional water distribution mains are located within

70 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 11 the adjacent Basset Creek and Easton Park developments. As required by the DA, the 24 inch transmission main will be extended along K-Bar Ranch Parkway, concurrent with each of the transportation improvement construction phases. Water mains throughout the Development will circulate through the Development to provide water to all residential neighborhoods in the Development. The District will provide all of the water distribution system for the Development, except that portion claimed for impact fee credits by the Developer. The cost of delivering potable water throughout the District includes costs incurred by the Developer that may be used by the Developer towards impact fee credit by the City of Tampa. These costs are included in the costs reported in Table 5 except for the existing portion of the water main for which impact fee credit has already been taken. Sanitary Sewer Collection System: The District will provide the sanitary sewer collection system for the Development. The sanitary sewer collection system will consist of a system of gravity sewer mains, five pump stations, and the associated force mains to provide sanitary sewer service to the Development. The primary force main will connect to the existing force main located at the existing eastern terminus of K-Bar Ranch Parkway. The other points of connection are along K-Bar Ranch Parkway at Kinnan Street and near the intersection of the Loop Road and K-Bar Ranch Parkway. The cost of delivering sanitary sewer throughout the District includes costs incurred by the Developer that may be used by the Developer towards impact fee credit by the City of Tampa. These fees have not been removed from the cost of infrastructure reported in Table 5. SURFACE WATER MANAGEMENT The District will provide the master surface water management infrastructure for the Development. Components of the surface water management infrastructure are described below: Surface Water Management Ponds: A comprehensive system of surface water management ponds, consisting primarily of wet detention ponds, are proposed to manage the water quality and quantity impacts associated with the Development, inclusive of Meadow Pointe Boulevard, K Bar Ranch Parkway, other minor collector roadways, and the subdivision infrastructure

71 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 12 components. These ponds will provide water quality treatment and stormwater runoff attenuation, designed in accordance with the Southwest Florida Water Management District s (SWFWMD) Basis of Review and the City of Tampa Land Development Code and Stormwater Technical Manual, to address the Development s impact to regional water quality and drainage. Floodplain Management Ponds: Floodplain management ponds are proposed to be excavated to offset fill impacts within on-site floodplain areas. Wetland Mitigation: A comprehensive wetland compensation plan is proposed to mitigate for unavoidable wetland impacts within the Development. Components of the mitigation plan are summarized below: Environmental Impact Compensation Plan: The proposed wetland impacts are being compensated for by creating wetlands in mitigation areas located within the District. Some of these wetland mitigation sites are co-located with the floodplain management ponds. Wetland Preservation: Numerous SWFWMD, EPC, and U.S. Army Corps of Engineers (USCOE) jurisdictional wetlands are being preserved in the District. Material excavated from surface water management ponds, floodplain management ponds, and wetland mitigation areas is anticipated to remain within the Development for use in road sub base, perimeter berms, and site grading. However, any grading in connection with the preparation of pads for private home sites or on other private property within the Development will not be funded by the District. Any material excavated from ponds or mitigation areas constructed on lands owned by the District shall be used only for improvements within the CIP. WILDLIFE HABITAT Threatened and Endangered Species Mitigation: The District will also provide for the cost of permitting and relocation or required mitigation for any adversely affected listed wildlife species within the District. The wetland compensation areas will provide for planting of beneficial plant species in targeted pond areas to offset impacts to wood stork habitat needed within the project limits.

72 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 13 Wildlife Habitat: As an obligation of the DA, the District will also provide for necessary wildlife habitat and maintenance of the Wildlife Corridor along Bassett Branch within the limits of the District. LANDSCAPING, SIGNAGE, AND WALLS The District presently intends to provide certain master landscape amenities and facilities within the Development. These facilities include entry landscaping and walls, landscaping along Meadow Pointe Boulevard, K-Bar Ranch Parkway, Paddock View Drive and Mistflower Lane, common signage, and landscaping around stormwater management and treatment areas. Entrance Landscaping and Signage: The District collector roadways will be landscaped with special attention given to the primary entrances (K Bar Ranch Parkway near Kinnan Street and Morris Bridge Road and the north end of Meadow Pointe Boulevard) including monument walls and signage. As required by the DA, a buffer wall and landscaping along the south side of K-Bar Ranch Parkway shall be installed by the District. Master Landscaping: The collector roadway network (rights-of-way and medians) and surface water management facilities will also be landscaped consistent with the theme of the Development. Common Area Irrigation System: The master landscaping areas described above will be irrigated with a common system of irrigation distribution lines fed by wells located within the District. Upon completion of the necessary water use permitting, the District will own and maintain the well sites. RECREATION FACILITIES The District presently intends to provide a central recreation facility along with open space areas within the Development. Recreation Facilities: The recreation facility may include a community center with an approximately 12,500 square foot clubhouse with playground, an open play field, two pools, picnic areas, basketball courts, pickleball courts, and tennis courts. The facilities will be open to the residents of the District, which will pay for the use of the facilities through non-ad valorem assessments levied by the District, and to other members of the general

73 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 14 public on a rate scale basis, which may be on an annual fee or per use basis as determined by the District. SUBDIVISION INFRASTRUCTURE ROADS, UTILITIES, AND SURFACE WATER MANAGEMENT The District presently intends to provide supporting infrastructure for the residential portion of the Development. Subdivision infrastructure improvements include roadways, utilities, wetland creation/mitigation, and surface water management facilities along with associated grading necessary for the stormwater system to function. The current master plan includes approximately 38,000 lineal feet (7.2 miles) of local roadway construction within the residential neighborhoods. Street lights will be installed along roadway facilities; however, the District will not fund the installation of the lighting. LANDSCAPING, SIGNAGE, AND WALLS The District presently intends to provide certain landscape amenities and facilities within the Development. These facilities include entry landscaping and walls, common area landscaping, common signage, surface water management and treatment area landscaping. Common Area Landscaping: Portions of the roadway network, common area space, and stormwater management facilities will also be landscaped consistent with the theme of the Development. Neighborhood Signage and Walls: The individual neighborhoods will be identified with specific signage. Walls or fences in combination with landscape berms will be used to buffer the neighborhoods from the adjacent collector roadways. Gates will be installed in conjunction with the walls and fencing at the entrance to each neighborhood; however, the public will have access to the interior facilities using a monitoring system that will allow passage through the gates at any time. Common Area Irrigation System: The common landscaping areas described above will be irrigated with a common system of irrigation distribution lines fed by wells that also serve the Master irrigation system.

74 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 15 PROFESSIONAL FEES Professional Fees include civil engineering costs for site design, permitting, inspection, and master planning, survey costs for construction staking and as-built drawings as well as preparation of preliminary and final plats, geotechnical costs for pre-design soil borings, underdrain analyses and construction inspection, and architectural costs for landscape and recreation design. Also included in this category are fees associated with environmental consultation and permitting. The infrastructure, as outlined above, is necessary for the functional development of the District as required by the applicable independent unit of local government. The planning and design of the infrastructure is in accordance with current governmental regulatory requirements. The infrastructure elements will provide their intended function so long as the construction is in substantial compliance with the design and permits. Items of construction in this report are based on current plan quantities for the infrastructure construction as shown on the approved construction drawings and specifications or the K-Bar Master Plans, latest revision. It is anticipated that, in addition to the annual non-ad valorem assessments to be levied and collected by the District to pay debt service on its bonds, the District should levy and collect an annual Maintenance Assessment to be determined, assessed, and levied by the District s Board of Supervisors upon the assessable real property within the District for the purpose of defraying the cost and expenses of maintaining District-owned improvements. 3.0 OWNERSHIP AND MAINTENANCE Ownership and maintenance of the improvements is generally anticipated as set forth in Table PERMIT STATUS The required infrastructure improvements for the initial phases of construction of the Development are contained in the following construction plans: K-Bar Ranch Parkway Segment C

75 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 16 K-Bar Ranch Parcel K Phases 1 & 2 K-Bar Ranch Parcel L Phases 1 & 2 K-Bar Ranch Parcel A K-Bar Ranch Parcel C Mansfield Boulevard/Kinnan Street Connection Kinnan Street & Cross Creek Boulevard Intersection Improvements Pond Excavation K-Bar Ranch Parkway Segment D Meadow Pointe Boulevard (T.I. E) The remainder of the needed infrastructure within the District is in the planning and/or design process. The USACOE permits are being pursued where needed to offset federal wetland impacts. In addition, wildlife surveys were initially completed at the start of the project and have been updated with each phase of development. Preliminary Plats, Incremental Site Plans and Construction Plans will be submitted and approved by the City of Tampa, the Southwest Florida Water Management District, Hillsborough County Environmental Protection Commission and the Florida Department of Environmental Protection incrementally as needed. The permit status of all permits issued to date or in process can be found in Table 4. We are of the opinion that all permits not heretofore issued or in process and which are necessary to effect the improvements described herein will be obtained during the ordinary course of development.

76 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 17 Table 3. K-Bar Ranch Ownership & Maintenance Matrix Facilities Anticipated Segment(s)/Parcel(s) Ownership Responsible for Maintenance 2 Roads (Public) K-Bar Ranch Parkway - all segments City City Mistflower Lane - east of and including round about City City Paddock View Drive - south of K-Bar Ranch Parkway City City Meadow Pointe Blvd (Transportation Improvement E) City City Roads (Private) Parcel B CDD K-Bar Ranch CDD Parcels A, C, D, G, H, I, J, K, L, N CDD II K-Bar Ranch CDD II Sidewalks (Public Streets) K-Bar Ranch Parkway - all segments City City Mistflower Lane - east of and including round about City City Paddock View Drive - south of K-Bar Ranch Parkway City City Meadow Pointe Blvd (Transportation Improvement E) City City Sidewalks (Private Streets) Parcel B CDD K-Bar Ranch CDD Parcels A, C, D, G, H, I, J, K, L, N CDD II K-Bar Ranch CDD II Streetscape 1 (Public Streets) K-Bar Ranch Parkway - Segments C, D, F, G City K-Bar Ranch CDD II K-Bar Ranch Parkway - Segment O City K-Bar Ranch CDD Mistflower Lane - east of and including round about City K-Bar Ranch CDD II Paddock View Drive - between K-Bar Ranch Pkwy to the roundabout City K-Bar Ranch CDD II Paddock View Drive - south of the roundabout City K-Bar Ranch CDD II 6 Meadow Pointe Blvd (Transportation Improvement E) City K-Bar Ranch CDD II Streetscape (Private Streets) Parcel B CDD K-Bar Ranch CDD Parcels A, C, D, G, H, I, J, K, L, N CDD II K-Bar Ranch CDD II Lighting (Public Streets) K-Bar Ranch Parkway - Segments C, D, F, G TECO K-Bar Ranch CDD II Existing Section K-Bar Ranch Parkway TECO K-Bar Ranch CDD Mistflower Lane - east of and including round about TECO K-Bar Ranch CDD II Paddock View Drive - south of K-Bar Ranch Parkway TECO K-Bar Ranch CDD II Meadow Pointe Blvd (Transportation Improvement E) TECO K-Bar Ranch CDD II Lighting (Private Streets) Parcel B CDD K-Bar Ranch CDD Parcels A, C, D, G, H, I, J, K, L, N CDD II K-Bar Ranch CDD II Water All parcels & roadway segments City City Wastewater (Public) K-Bar Ranch Parkway - Segments C, D, F, G City City Mistflower Lane - east of and including round about City City Paddock View Drive - south of K-Bar Ranch Parkway City City Meadow Pointe Blvd (Transportation Improvement E) City City Parcels A, D, G, H, I, J, K, L, N City City Wastewater (Private) Parcel B CDD K-Bar Ranch CDD Parcel C CDD II K-Bar Ranch CDD II or Neighborhood HOA Entry Monuments/Signage/Walls Parcel B CDD K-Bar Ranch CDD Parcels A, C, D, G, H, I, J, K, L, N CDD II K-Bar Ranch CDD II K-Bar Ranch Parkway - Segments C 3, D, F, G CDD II K-Bar Ranch CDD II Meadow Pointe Blvd (Transportation Improvement E) CDD II K-Bar Ranch CDD II Stormwater (Public Roads) K-Bar Ranch Parkway - Segments D, F City K-Bar Ranch CDD II K-Bar Ranch Parkway - Segment C City City K-Bar Ranch Parkway - Segment G City Easton Park CDD Existing Section K-Bar Ranch Parkway City K-Bar Ranch CDD Mistflower Lane - east of and including round about City K-Bar Ranch CDD II Paddock View Drive - south of K-Bar Ranch Parkway City K-Bar Ranch CDD II Meadow Pointe Blvd (Transportation Improvement E) City K-Bar Ranch CDD II Stormwater (Private & All Ponds) Parcel B CDD K-Bar Ranch CDD Existing Segment K-Bar Ranch Parkway CDD K-Bar Ranch CDD K-Bar Ranch Parkway - Segment C City City K-Bar Ranch Parkway - Segment G EP CDD Easton Park CDD Parcels A, C, D, G, H, I, J, K, L, N CDD II K-Bar Ranch CDD II Tree Well Piping (Public Roads) K-Bar Ranch Parkway - Segment C CDD II K-Bar Ranch CDD II Wetland Mitigation, Habitat Parcel B CDD K-Bar Ranch CDD Creation & Basset Branch Parcels A, C, D, G, H, I, J, K, L, N CDD II K-Bar Ranch CDD Wildlife Corridor 7 within the K- K-Bar Ranch Parkway - Segment C City City Bar Ranch CDD II limits K-Bar Ranch Parkway - Segments D, F, G CDD II K-Bar Ranch CDD II Meadow Pointe Blvd (Transportation Improvement E) CDD II K-Bar Ranch CDD II Bassett Branch Wildlife Corridor 7 CDD II K -Bar Ranch CDD II Well sites 4 Parcels A, C, D, G, H, I, J, K, L, N HOA Neighborhood HOA Decorative Street Sign Poles Public Streets City K-Bar Ranch CDD II Parcel B CDD K-Bar Ranch CDD Parcels A, C, D, G, H, I, J, K, L, N CDD II K-Bar Ranch CDD II 1 Streetscape includes Landscaping, irrigation, lighting monuments. 2 Any maintenance entities identified on approved plats will supersede any entities identified in this table. 3 Includes buffer identified in Section 6.d.vi of the Development Agreement 4 Individual neighborhood HOAs/entities will maintain those tracts within the neighborhood limits; however, reserves the right to transfer maintenance to the master HOA or CDD. 5 The CDDs reserve the right to enter into interlocal agreements 6 The City will maintain any streetscape planted in excess of code minimums along Paddock View Drive south of the roundabout and any streetscapes within areas included in the Park Site Property conveyed to the City pursuant to the Development Agreement. 7 Basset Branch Wildlife Corridor as referenced in the PD-A zoning REZ 15-11, Ordinance No This does not include that portion of the wildlife corridor east of the K-Bar Ranch II CDD limits, which remains the responsibility of the Easton Park CDD.

77 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 18 Table 4. Permit Status Issuing Agency Permit ID Permit Number Approval Date Overall City of Tampa Rezoning REZ /31/2015 City of Tampa Development Agreement /17/2015 City of Tampa Rezoning REZ /24/2017 Southwest Florida Water Mgmt Dist ERP Individual Construction Permit Expiration Date K-Bar Ranch Parkway Segment C Southwest Florida Water Mgmt Dist ERP Individual Construction Permit, Minor Mod (UTL) /14/2015 2/5/2021 Southwest Florida Water Mgmt Dist Southwest Florida Water Mgmt Dist Southwest Florida Water Mgmt Dist ERP Individual Construction Permit, Minor Mod (UTL) - extension ERP Individual Construction Permit, Minor Mod (Turn Lanes) ERP Individual Construction Permit, Minor Mod (Turn Lanes) - extension /14/2015 6/14/ /8/2016 8/10/ /8/2016 4/19/2024 Southwest Florida Water Mgmt Dist ERP Individual Construction Permit - Landmark /2/ /2/2020 Southwest Florida Water Mgmt Dist ERP Individual Construction Permit - Landmark - extension /2/2015 6/11/2023 City of Tampa Construction Plans, Utilities & PLP PLN /31/2016 City of Tampa Construction Plans, Turn Lanes PLN /19/2016 City of Tampa Construction Plans, Roadway (Landmark) PLN /12/2016 City of Tampa Wastewater Commitment A 3/9/2016 3/9/2017 FDEP Wastewater Construction DWC 5/19/2016 5/18/2021 ACOE Roadway SAJ SP-MGH 3/31/2016 3/31/2021 ACOE Water Main SAJ (NW-JRB) 3/11/2013 FDEP NOI Hillsborough County EPC /13/2016 Hillsborough County EPC (Turn Lanes) /19/2016 Pond Excavation Plans Southwest Florida Water Mgmt Dist ERP Individual Construction Permit /1/2016 2/1/2021 Southwest Florida Water Mgmt Dist Southwest Florida Water Mgmt Dist ERP Individual Construction Permit - extension /1/2016 9/27/2023 ERP Individual Construction Permit, Minor Mod /27/2016 8/11/2021 Southwest Florida Water Mgmt Dist ERP Individual Construction Permit, Minor Mod - extension /27/2016 4/6/2024 City of Tampa Construction Plans PLN /1/2016 City of Tampa Construction Plans (modification) PLN /9/2017 Hillsborough County EPC /1/2016 Parcel K, Ph 1 & Ph 2 Southwest Florida Water Mgmt Dist ERP Individual Construction Permit /28/2016 6/28/2021 Southwest Florida Water Mgmt Dist Southwest Florida Water Mgmt Dist ERP Individual Construction Permit - extension /28/2016 1/30/2024 ERP Individual Construction Permit Minor Mod /31/2017 4/5/2022 City of Tampa Wastewater Commitment B 1/5/2016 1/5/2017 City of Tampa Water Commitment /8/2016 City of Tampa Preliminary Plat PPT /22/2016 City of Tampa Construction Plans PLN /27/2016 City of Tampa Construction Plans - Mod PLN /27/2017 City of Tampa Final Plat FPT /5/2017 FDEP NOI FLR20AU83 2/16/2017 FDEP Wastewater Construction DWC 9/15/2016 9/14/2021 FDEP Water Construction DSGP-DEP 9/27/2016 9/27/2021 Hillsborough County EPC /25/2016 Parcel L, Ph 1 & Ph 2 Southwest Florida Water Mgmt Dist ERP Individual Construction Permit /19/2016 7/19/2021 Southwest Florida Water Mgmt Dist ERP Individual Construction Permit -extension /19/2016 2/13/2024 City of Tampa Wastewater Commitment A 1/5/2016 1/5/2017

78 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 19 Issuing Agency Permit ID Permit Number Approval Date Expiration Date City of Tampa Water Commitment /9/2016 City of Tampa Preliminary Plat PPT /27/2016 City of Tampa Construction Plans Phase 1 PLN /11/2017 FDEP NOI FLR20AU83 2/16/2017 FDEP Wastewater Construction Phase DWC 3/9/2017 3/8/2022 FDEP Water Construction Phase DS/C DEP 3/10/2017 3/10/2022 Hillsborough County EPC /28/2016 Parcel A Southwest Florida Water Mgmt Dist ERP Individual Construction Permit /23/2016 9/23/2021 Southwest Florida Water Mgmt Dist ERP Individual Construction Permit - extension /23/2016 7/30/2023 City of Tampa Wastewater Commitment B 10/5/2016 City of Tampa Water Commitment /23/2016 City of Tampa Preliminary Plat PPT /11/2016 City of Tampa Construction Plans PLN /9/2017 FDEP NOI FLR20BE88 2/20/2017 FDEP Wastewater Construction DWC 3/9/2017 3/8/2022 FDEP Water Construction CS/C DEP 2/15/2017 2/15/2022 Hillsborough County EPC /26/2016 Parcel C Southwest Florida Water Mgmt Dist ERP Individual Construction Permit /26/ /26/2021 Southwest Florida Water Mgmt Dist ERP Individual Construction Permit - extension /26/2016 8/13/2023 City of Tampa Wastewater Commitment A 10/6/2016 City of Tampa Water Commitment /15/2016 City of Tampa Preliminary Plat PPT /7/2016 City of Tampa Construction Plans PLN /12/2017 FDEP NOI FLR20BE88 2/20/2017 FDEP Wastewater Construction DWC 1/26/2017 1/25/2022 FDEP Water Construction DSGP-DEP 2/8/2017 2/8/2022 Hillsborough County EPC /12/2016 K-Bar Ranch Parkway Segment D Southwest Florida Water Mgmt Dist ERP Individual Construction Permit submitted 05/30/2017 City of Tampa Wastewater Commitment UTL /14/2016 City of Tampa Water Commitment /30/2016 City of Tampa Construction Plans submitted 04/25/2017 FDEP NOI FDEP Wastewater Construction DWC 5/18/2017 5/17/2022 FDEP Water Construction submitted 04/13/2017 Hillsborough County EPC submitted 05/26/2017 Meadow Pointe Blvd Extension (T.I. E) Southwest Florida Water Mgmt Dist ERP Individual Construction Permit submitted 06/02/2017 City of Tampa Construction Plans submitted 04/19/2017 FDEP NOI Hillsborough County EPC submitted 06/02/2017 Mansfield Blvd & Kinnan Street Connection (T.I. B) Southwest Florida Water Mgmt Dist ERP Minor Modification /4/ /23/2021 Hillsborough County Right-of-Way Permitting ROW /29/ /29/2017 Pasco County Zoning Development Review submitted 4/4/2016 Kinnan Street & Cross Creek Blvd Intersection Improvements (T.I. A) City of Tampa Right-of-Way Permitting: Notice of Completion ROW /26/2016 City of Tampa Right-of-Way Permit ROW /13/ /31/2016 Hillsborough County Right-of-Way Use Permit ROW21788W 6/7/2016 Southwest Florida Water Mgmt Dist Project Evaluation - Project Exempt File # /22/2016

79 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page SUMMARY OF COSTS The estimated cost of the Capital Improvement Project is as set forth in Table 5 below. Table 5 - District Engineer s Option of Cost (All Costs in 2017 Dollars) Item Phase 1 Phase 2 Future Phases Total Project Master Subdivision Master Subdivision Master Subdivision Site Work $780,000 $3,196,100 $209,000 $3,825,700 $2,346,400 $6,851,800 $17,209,000 Roadway & Stormwater Management $3,778,200 $2,194,500 $1,554,400 $2,912,200 $11,626,700 $3,907,100 $25,973,100 Sewer Facilities $1,389,500 $843,800 $643,500 $996,600 $1,175,800 $1,437,600 $6,486,800 Water Facilities $167,000 $701,300 $330,000 $772,500 $1,707,000 $1,442,500 $5,120,300 Recreational $0 $0 $0 $0 $3,500,000 $0 $3,500,000 Facilities Landscape & $1,417,500 $450,000 $787,500 $450,000 $3,735,000 $750,000 $7,590,000 Streetscape Engineering & $1,361,800 $1,255,600 $599,100 $1,522,700 $4,319,600 $2,446,100 $11,504,900 Professional Contingency $889,400 $864,100 $412,400 $1,048,000 $2,841,000 $1,683,500 $7,738,400 GRAND TOTAL $9,783,400 $9,505,400 $4,535,900 $11,527,700 $31,251,500 $18,518,600 $85,122, ENGINEER S OPINION It is my professional opinion that the summary of costs listed above is sufficient to complete the construction of the items intended. It is my professional opinion that the infrastructure costs associated herein for the Total Improvements are reasonable to complete the construction of the infrastructure described herein and that these infrastructure improvements will benefit and add value to the lands within the District. All infrastructure costs are public improvements or community facilities as set forth in section (1) and (2) of the Florida Statutes. The estimate of infrastructure construction costs is only an estimate and not a guarantee maximum price. The estimated cost is based on unit prices currently being experienced for ongoing and similar items of work in City of Tampa and quantities as represented on construction plans. The labor market future costs of equipment and materials, increased regulatory actions and the actual construction process are all beyond control. Due to this

80 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 21 inherent opportunity for fluctuation of cost, the total final cost may be more or less than this estimate. Assuming project construction continues in a timely manner, it is our opinion that the proposed improvements, if constructed and built in substantial accordance with the approved plans and specifications, can be completed and meet their intended functions. Where necessary, historical costs, information from other professional or utility consultants and contractors have been used in preparation of this report. Consultants and contractors who have contributed in providing the cost data included in this report are reputable entities in the Tampa Bay area. It is therefore our opinion that the construction of the proposed project can be completed at the cost stated. 8/8/2017 2:05 PM EDT Lara G. Bartholomew, State of Florida, Professional Engineer, License No This item has been electronically signed and sealed by Lara G. Bartholomew, P.E. using a Digital Signature. Lara G Bartholomew, P.E. Florida Registered Engineer No Printed copies of this document are not considered signed and sealed and must be verified on any electronic copies.

81 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 Appendix A Legal Description

82 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 23 K-Bar Ranch II CDD DESCRIPTION: A parcel of land lying in Sections 2, 3 & 4, Township 27 South, Range 20 East, Hillsborough County, Florida, and being a portion of BASSSET CREEK ESTATES - PHASE 2D REPLAT, as recorded in Plat Book 123, Pages , of the Public Records of Hillsborough County, Florida, a portion of K-BAR RANCH - PARCEL O, as recorded in Plat Book 121, Pages , of the Public Records of Hillsborough County, Florida and a portion of EASTON PARK PHASE 3, as recorded in Plat Book 115, Pages , of the Public Records of Hillsborough County, Florida, being more particularly described as follows: BEGIN at the Southwest corner of said Section 2, said point also being on the Westerly boundary of EASTON PARK PHASE 1, as recorded in Plat Book 110, Pages , of the Public Records of Hillsborough County, Florida; thence along the Southerly boundary line of said Section 3, N.89 36'19"W., a distance of feet; thence departing said Southerly boundary line and along the Westerly boundary of PARCEL 2, as described in Official Records Book 22421, Page 1016, of the Public Records of Hillsborough County, Florida, thence along said Westerly boundary the following ten (10) courses: 1) N.03 02'29"E., a distance of feet; 2) N.54 58'54"W., a distance of feet; 3) N.31 26'48"W., a distance of feet; 4) N.04 16'32"W., a distance of feet; 5) N.17 49'48"E., a distance of feet; 6) N.28 08'40"E., a distance of feet; 7) N.11 59'02"E., a distance of feet; 8) N.15 06'49"W., a distance of feet; 9) N.25 17'33"E., a distance of feet; 10) N.44 34'30"W., a distance of feet to a point on a curve on the Westerly future public right-of-way of PADDOCK VIEW DRIVE; thence Northerly along said Westerly future public right-of-way, feet along the arc of a non-tangent curve to the left having a radius of feet and a central angle of 10 50'41" (chord bearing N.19 56'17"E., feet) to a point on the exterior boundary of the K-BAR RANCH COMMUNITY DEVELOPMENT DISTRICT, as described in Official Records Book 22557, Page 1001, of the Public Records of Hillsborough County, Florida, said point also being on the Southerly boundary of said BASSSET CREEK ESTATES - PHASE 2D REPLAT; thence along said exterior boundary of the K-BAR RANCH COMMUNITY DEVELOPMENT DISTRICT the following eleven (11) courses: 1) N.69 54'20"E., a distance of 7.47 feet; 2) N.08 15'58"E., a distance of feet; 3) Northerly, feet along the arc of a tangent curve to the left having a radius of feet and a central angle of 16 38'00" (chord bearing N.00 03'02"W., feet); 4) Northwesterly, feet along the arc of a compound curve to the left having a radius of feet and a central angle of 70 04'07" (chord bearing N.43 24'06"W., feet); 5) N.16 34'45"W., a distance of feet; 6) Northerly, feet along the arc of a non-tangent curve to the left having a radius of feet and a central angle of 66 25'19" (chord bearing N.16 37'54"E., feet); 7) N.16 34'45"W., a distance of feet; 8) Northwesterly, feet along the arc of a tangent curve to the left having a radius of feet and a central angle of 46 49'26" (chord bearing N.39 59'28"W., feet); 9) Northwesterly, feet along the arc of a reverse curve to the right having a radius of feet and a central angle of 41 42'54" (chord bearing N.42 32'44"W., feet); 10) N.21 41'17"W., a distance of feet;

83 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 24 11) Westerly, feet along the arc of a tangent curve to the left having a radius of feet and a central angle of 90 00'00" (chord bearing N.66 41'17"W., feet) to the Southerly right-of-way line of K-BAR RANCH PARKWAY in said K-BAR RANCH - PARCEL O; thence continue along said exterior boundary of the K-BAR RANCH COMMUNITY DEVELOPMENT DISTRICT, N.68 18'43"E., a distance of feet to the Easternmost corner of said K-BAR RANCH PARKWAY; thence continue along said exterior boundary of the K-BAR RANCH COMMUNITY DEVELOPMENT DISTRICT the following three (3) courses: 1) N.21 41'17"W., a distance of feet; 2) N.68 18'43"E., a distance of feet; 3) Easterly, feet along the arc of a tangent curve to the right having a radius of feet and a central angle of 11 24'05" (chord bearing N.74 00'46"E., feet) to the Easternmost corner of the CDD EXPANSION PARCEL 2, as described in Official Records Book 22557, Page 1001, of the Public Records of Hillsborough County, Florida; thence along the Easterly and Northerly boundary, respectively, of said CDD EXPANSION PARCEL 2 and said external boundary of the K- BAR RANCH COMMUNITY DEVELOPMENT DISTRICT the following five (5) courses: 1) N.10 17'11"W., a distance of feet; 2) N.53 40'06"W., a distance of feet; 3) N.83 59'01"W., a distance of feet; 4) N.22 22'16"W., a distance of feet; 5) N.22 13'00"E., a distance of feet to a point on a line being feet South of and Parallel with the Northerly boundary line of the Northwest ¼ of said Section 3; thence continue along the Northerly boundary line of said CDD EXPANSION PARCEL 2 and said external boundary of the K-BAR RANCH COMMUNITY DEVELOPMENT DISTRICT, S.89 59'02"W., a distance of feet to a point on a line being feet South of and Parallel with the Northerly boundary line of the Northeast ¼ of said Section 4; thence continue along said external boundary of the K-BAR RANCH COMMUNITY DEVELOPMENT DISTRICT, N.89 53'45"W., a distance of feet to a point on a line being feet South of and Parallel with the Northerly boundary line of the Northeast ¼ of said Section 4, said point also being on the Easterly boundary of K-BAR RANCH PARCEL B, as recorded in Plat Book 127, Pages , of the Public Records of Hillsborough County, Florida; thence departing said external boundary of the K-BAR RANCH COMMUNITY DEVELOPMENT DISTRICT and along said Easterly boundary, N.15 01'01"W., a distance of feet to a point on a line being feet South of and Parallel with the Northerly boundary line of the Northeast ¼ of said Section 4; thence N.89 53'45"W., a distance of feet to a point on a line being feet South of and Parallel with the Northerly boundary line of the Northwest ¼ of said Section 4; thence continue along a line being feet South of and Parallel with the Northerly boundary line of the Northwest ¼ of said Section 4, N.89 52'00"W., a distance of feet; thence S.00 08'00"W., a distance of feet to a point on a line being feet South of and Parallel with the Northerly boundary line of the Northwest ¼ of said Section 4, said point also being the Northwest corner of the CDD EXPANSION PARCEL 3, as described in Official Records Book 22557, Page 1001, of the Public Records of Hillsborough County, Florida; thence along the Westerly and Southerly boundary, respectively, of said CDD EXPANSION PARCEL 3 and said external boundary of the K-BAR RANCH COMMUNITY DEVELOPMENT DISTRICT the following seven (7) courses: 1) S.42 22'20"E., a distance of feet; 2) S.89 55'34"E., a distance of feet; 3)

84 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 25 N.72 30'36"E., a distance of feet; 4) S.37 11'41"E., a distance of feet; 5) N.78 31'19"E., a distance of feet; 6) N.58 16'55"E., a distance of feet; 7) N.23 29'10"E., a distance of feet to a point on the Westerly boundary of said K-BAR RANCH - PARCEL O; thence continue along said external boundary of the K-BAR RANCH COMMUNITY DEVELOPMENT DISTRICT the following two (2) courses: 1) S.20 00'10"W., a distance of feet; 2) S.03 15'54"E., a distance of feet to the Northerly boundary of the FUTURE FOUR-LANE PUBLIC CORRIDOR and TRACT G in said K-BAR RANCH - PARCEL O; thence along said Northerly boundary and said external boundary of the K-BAR RANCH COMMUNITY DEVELOPMENT DISTRICT the following two (2) courses: 1) N.86 43'26"E., a distance of feet; 2) Easterly, feet along the arc of a tangent curve to the right having a radius of feet and a central angle of 00 44'34" (chord bearing N.87 05'43"E., feet) to the Northeast corner of said FUTURE FOUR-LANE PUBLIC CORRIDOR and TRACT G ; thence continue along said external boundary of the K-BAR RANCH COMMUNITY DEVELOPMENT DISTRICT and the Easterly and Southerly boundary, respectively, of said FUTURE FOUR-LANE PUBLIC CORRIDOR and TRACT G the following five (5) courses: 1) S.02 31'34"E., a distance of feet; 2) Westerly, feet along the arc of a non-tangent curve to the left having a radius of feet and a central angle of 00 44'31" (chord bearing S.87 05'41"W., feet); 3) S.86 43'26"W., a distance of feet; 4) Westerly, feet along the arc of a tangent curve to the right having a radius of feet and a central angle of 24 28'42" (chord bearing N.81 02'13"W., feet); 5) N.68 47'52"W., a distance of feet to the Northernmost corner of TRACT F in BASSET CREEK ESTATES - PHASE 2A as recorded in Plat Book 118, Pages , of the Public Records of Hillsborough County, Florida; thence continue along said external boundary of the K- BAR RANCH COMMUNITY DEVELOPMENT DISTRICT the following four (4) courses: 1) S.57 00'00"W., a distance of feet; 2) S.22 59'59"W., a distance of feet; 3) S.08 00'02"W., a distance of feet; 4) N.89 11'25"W., a distance of feet to the Northernmost corner of STONECREEK TOWNHOMES as recorded in Plat Book 108, Pages , of the Public Records of Hillsborough County, Florida; thence continue along said external boundary of the K-BAR RANCH COMMUNITY DEVELOPMENT DISTRICT the following nine (9) courses: 1) S.43 44'31"W., a distance of feet; 2) S.83 28'31"W., a distance of feet; 3) N.59 52'01"W., a distance of feet; 4) S.59 05'38"W., a distance of feet; 5) Southwesterly, feet along the arc of a tangent curve to the left having a radius of feet and a central angle of 55 10'27" (chord bearing S.31 30'24"W., feet); 6) S.03 55'11"W., a distance of feet; 7) Southerly, feet along the arc of a tangent curve to the left having a radius of feet and a central angle of 01 13'02" (chord bearing S.03 18'40"W., feet); 8) S.60 37'34"W., a distance of feet; 9) N.88 10'40"W., a distance of feet to the Northwest corner of BASSET CREEK DRIVE in said STONECREEK TOWNHOMES; thence continue along said external boundary of the K-BAR RANCH COMMUNITY DEVELOPMENT DISTRICT the following three (3) courses: 1) Southerly, feet along the arc of a non-tangent curve to the left having a radius of feet and a central angle of 25 06'49" (chord bearing S.10 44'04"E., feet); 2) Southerly, feet along the arc of a reverse curve to the right having a radius of feet and a central angle

85 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 26 of 48 21'42" (chord bearing S.00 53'23"W., feet); 3) S.88 28'05"W., a distance of feet; thence departing said external boundary of the K-BAR RANCH COMMUNITY DEVELOPMENT DISTRICT, N.01 32'47"W., a distance of feet; thence N.41 36'07"W., a distance of feet to the Westerly boundary line of said Section 4; thence along said Westerly boundary line, N.00 24'23"W., a distance of feet to the Northwest corner of said FUTURE FOUR-LANE PUBLIC CORRIDOR and TRACT G ; thence continue along the Westerly boundary line of said Section 4, N.00 24'23"W., a distance of feet; thence departing said Westerly boundary line, N.89 35'37"E., a distance of feet; thence S.00 24'23"E., a distance of feet; thence N.84 03'54"E., a distance of feet; thence Northeasterly, feet along the arc of a tangent curve to the left having a radius of feet and a central angle of 37 14'05" (chord bearing N.65 26'52"E., feet); thence N.46 49'49"E., a distance of feet; thence N.43 10'11"W., a distance of 3.82 feet; thence N.46 49'49"E., a distance of feet; thence S.43 10'11"E., a distance of 3.82 feet; thence N.46 49'49"E., a distance of feet; thence N.23 14'23"W., a distance of feet; thence N.43 10'10"W., a distance of feet; thence N.00 08'00"E., a distance of feet to the Northerly boundary line of the Northwest ¼ of said Section 4; thence along said Northerly boundary line, S.89 52'00"E., a distance of feet to the Northwest corner of the Northeast ¼ of said Section 4, said point also being the Southwest corner of MEADOW POINT III PARCEL V- V, as recorded in Plat Book 45, Pages , of the Public Records of Pasco County, Florida; thence along the Northerly boundary line of said Northeast ¼, S.89 53'45"E., a distance of feet to the Northwest corner of the Northwest ¼ of said Section 3; thence along the Northerly boundary line of said Northwest ¼, N.89 59'02"E., a distance of feet to the Northwest corner of the Northeast ¼ of said Section 3; thence along the Northerly boundary line of said Northeast ¼, N.89 59'12"E., a distance of feet to the Northwest corner of the property described as Exhibit A in Official Records Book 21531, Page 1875, of the Public Records of Hillsborough County, Florida; thence along said Westerly, Southerly and Easterly boundary, respectively, of said property the following twelve (12) courses: 1) S.56 48'42"E., a distance of 3.21 feet; 2) S.43 32'28"W., a distance of feet; 3) S.42 58'40"W., a distance of feet; 4) S.04 13'32"W., a distance of feet; 5) S.23 16'04"W., a distance of feet; 6) S.25 02'56"W., a distance of feet; 7) S.01 48'32"W., a distance of feet; 8) S.12 23'09"E., a distance of feet; 9) S.11 36'27"E., a distance of feet; 10) S.80 31'41"E., a distance of feet; 11) Northerly, feet along the arc of a non-tangent curve to the right having a radius of feet and a central angle of 07 44'58" (chord bearing N.09 28'15"E., feet); 12) N.13 20'44"E., a distance of 8.24 feet to aforesaid Northerly boundary line of said Northeast ¼; thence along said Northerly boundary line, N.89 59'12"E., a distance of feet to the Northwest corner of the Northwest ¼ of said Section 2; thence along the Northerly boundary line of said Northwest ¼, N.89 56'34"E., a distance of feet to the Northwest corner of the Northeast ¼ of said Section 2; thence along the Northerly boundary line of said Northeast ¼, N.89 56'12"E., a distance of feet; thence departing said Northerly boundary line, S.34 28'44"E., a distance of feet; thence S.00 32'52"E., a distance of feet; thence S.40 52'41"W., a distance of feet the Northeast corner of said EASTON PARK PHASE 3; thence along the Northeasterly boundary of said

86 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 27 EASTON PARK PHASE 3, N.54 20'09"W., a distance of feet to the Northernmost corner of said EASTON PARK PHASE 3; thence along the Northerly and Westerly boundary, respectively, of said EASTON PARK PHASE 3 the following six (6) courses: 1) S.87 02'29"W., a distance of feet; 2) S.45 00'00"E., a distance of feet; 3) S.60 00'00"E., a distance of feet; 4) S.45 00'00"E., a distance of feet; 5) S.00 00'00"E., a distance of feet; 6) S.58 00'00"W., a distance of feet; thence along the Southwesterly boundary of said EASTON PARK PHASE 3 the following three (3) courses: 1) Southeasterly, feet along the arc of a non-tangent curve to the right having a radius of feet and a central angle of 14 43'02" (chord bearing S.38 21'31"E., feet); 2) S.31 00'00"E., a distance of feet; 3) Southeasterly, feet along the arc of a tangent curve to the left having a radius of feet and a central angle of 29 16'26" (chord bearing S.45 38'13"E., feet) to the Southernmost corner of said EASTON PARK PHASE 3; thence continue Southeasterly, feet along the arc of a curve to the left having a radius of feet and a central angle of 03 13'34" (chord bearing S.61 53'13"E., feet); thence S.63 30'00"E., a distance of feet; thence Southeasterly, feet along the arc of a tangent curve to the right having a radius of feet and a central angle of 09 30'00" (chord bearing S.58 45'00"E., feet); thence S.54 00'00"E., a distance of feet; thence N.35 39'38"E., a distance of feet; thence S.54 00'00"E., a distance of feet to the Westerly maintained right-of-way line of MORRIS BRIDGE ROAD (COUNTY ROAD NO. 579); thence along said Westerly maintained right-of-way line the following three (3) courses: 1) S.35 39'38"W., a distance of feet; 2) N.89 40'28"W., a distance of 8.69 feet; 3) S.35 45'59"W., a distance of feet; thence departing said Westerly maintained right-of-way line, N.54 00'00"W., a distance of feet; thence N.35 39'38"E., a distance of feet; thence N.54 00'00"W., a distance of feet; thence Northwesterly, feet along the arc of a tangent curve to the left having a radius of feet and a central angle of 01 54'23" (chord bearing N.54 57'12"W., feet) to the Easternmost corner of said EASTON PARK PHASE 1; thence continue Northwesterly along the Northeasterly boundary of said EASTON PARK PHASE 1, feet along the arc of a curve to the left having a radius of feet and a central angle of 07 35'37" (chord bearing N.59 42'12"W., feet); thence continue along said Northeasterly boundary the following four (4) courses: 1) N.63 30'00"W., a distance of feet; 2) Northwesterly, feet along the arc of a tangent curve to the right having a radius of feet and a central angle of 32 30'00" (chord bearing N.47 15'00"W., feet); 3) N.31 00'00"W., a distance of feet; 4) Northwesterly, feet along the arc of a tangent curve to the left having a radius of feet and a central angle of 13 24'47" (chord bearing N.37 42'24"W., feet) to the Northernmost corner of said EASTON PARK PHASE 1; thence along the Westerly boundary of said EASTON PARK PHASE 1 the following sixteen (16) courses: 1) S.21 00'00"W., a distance of feet; 2) S.51 00'00"W., a distance of feet; 3) S.42 00'00"W., a distance of feet; 4) S.45 00'00"E., a distance of feet; 5) S.24 00'00"W., a distance of feet; 6) S.57 00'00"W., a distance of feet; 7) S.51 00'00"W., a distance of feet; 8) S.04 00'00"E., a distance of feet; 9) S.45 00'00"W., a distance of feet; 10) N.90 00'00"W., a distance of feet; 11) S.49 00'00"W., a distance of feet; 12) S.64 00'00"W., a distance of feet; 13)

87 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-Bar Ranch II CDD Master Engineer s Report Page 28 S.25 00'00"W., a distance of feet; 14) S.25 00'00"E., a distance of feet; 15) S.41 57'36"W., a distance of feet; 16) S.00 25'00"E., a distance of feet to the Southwest corner of said Section 2 and the POINT OF BEGINNING. Containing acres, more or less.

88 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 Appendix B Vicinity Map

89 DocuSign Envelope ID: 61A E C3A-48C18CE36C32

90 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 Appendix C Master Plan

91 DocuSign Envelope ID: 61A E C3A-48C18CE36C32 K-BAR RANCH PARKWAY PARCEL A EXISTING PARCEL B EXISTING LAUREL VISTA EXISTING HERON PRESERVE PARCEL D MEADOW POINTE BLVD K-BAR RANCH PARKWAY PARCEL G PARCEL H R:\K-BAR\CDD\ENGINEERING\EXH-CDD.DWG-EXH-CDD 2017/07/10 11:02 AM AARON BOTT PARCEL C PARCEL J MISTFLOWER LN EXISTING EASTON PARK EXISTING BASSETT CREEK PARCEL K PARCEL I EXISTING STONE CREEK PADDOCK VIEW DR. MISTFLOWER LN AMENITY PARCEL M K-BAR RANCH PARKWAY LOOP ROAD PARCEL L1 PARCEL N INSERT A-A SEE THIS SHEET CITY OF TAMPA PARK PRIDE ELEMENTARY EXISTING EASTON PARK LEGEND PRODUCT LEGEND INSERT A-A CDD BOUNDRY PARCEL BOUNDRY WETLANDS POND / SUMP/ FLOODPLAIN COMPENSATION K - BAR RANCH II CDD MIN. SINGLE FAMILY LOT 40' x 120' SF STANDARDS FRONT 20' SIDE * ** 5' REAR 15' MAX. HT. 35' MAX. BLDG. COVERAGE 53% MIN. LOT SF 4,800 SF K - BAR RANCH CONCEPTUAL MASTER PLAN 100' MIN. TOWNHOMES - 16' MIN. LOT FRONT SIDE * REAR MAX. HT. MAX. BLDG. COVERAGE MIN. LOT SF STANDARDS 20' 10' BTWN. BLDGS. 10' 35' 75% 1,600 SF 5' SIDE SIDE * ** REAR MAX. HT. HOUSE SINGLE FAMILY LOT "OPTIONAL" 40' x 120' SF FRONT ALLEY 5' REAR GAR. 10' FRONT STANDARDS MAX. BLDG. COVERAGE MIN. LOT SF 10' 5' 5' 35' 60% 4,800 SF 120' VILLAS - 30' MIN. LOT STANDARDS FRONT SIDE * REAR MAX. HT. MAX. BLDG. COVERAGE MIN. LOT SF 20' 10' BTWN. BLDGS. 10' 35' 60% 3,600 SF K-BAR RANCH PARKWAY MORRIS BRIDGE ROAD M.I. HOMES OF TAMPA, LLC CITY OF TAMPA, HILLSBOROUGH COUNTY PARCEL E DATE DESCRIPTION BY DATE: 07/07/2017 JOB #: MIH KR 1318 Note: This is a preliminary/conceptual site plan and is subject to survey information, final design, engineering and governmental approvals, additional drainage, floodplain and grand tree analysis is required and may affect final unit totals and layout. PARCEL F MORRIS BRIDGE ROAD SCALE: 1" = 500' HALF SCALE 11" BY 17" COPYRIGHT 2017, HEIDT DESIGN, LLC. ALL RIGHTS RESERVED. NO DOCUMENTATION (INCLUDING BUT NOT LIMITED TO DRAWINGS OR EXHIBITS) MAY BE COPIED, REPRODUCED, OR DISTRIBUTED UNLESS SPECIFIC WRITTEN PERMISSION HAS BEEN OBTAINED FROM HEIDT DESIGN, LLC. IN ADVANCE. CONSENT IS HEREBY GRANTED SPECIFICALLY TO GOVERNMENTAL AGENCIES TO REPRODUCE THIS DOCUMENTATION IN COMPLIANCE WITH F.S. CHAPTER 119.

92 EXHIBIT B PROPOSED GENERAL FUND BUDGET

93 Proposed Budget Kbar Ranch II Community Development District General Fund Fiscal Year 2018/2019 Chart of Accounts Classification Actual YTD through 06/30/18 Projected Annual Totals 2017/2018 Annual Budget for 2017/2018 Projected Budget variance for 2017/2018 Budget for 2018/2019 Budget Increase (Decrease) vs 2017/2018 Comments Budget Allocation Factor 1 2 REVENUES 3 14 Special Assessments 15 Tax Roll* $ - $ - $ - $ - $ - $ - 17 Off Roll* $ - $ - $ - $ - $ 526,725 $ 526, Developer Contributions $ 271,134 $ 361,512 $ 326,725 $ 34,787 $ - $ (326,725) TOTAL REVENUES $ 271,134 $ 361,512 $ 326,725 $ 34,787 $ 526,725 $ 200, TOTAL REVENUES AND BALANCE FORWARD $ 271,134 $ 361,512 $ 326,725 $ 34,787 $ 526,725 $ 200, *Allocation of assessments between the Tax Roll and Off Roll are estimates only and subject to change prior to certification EXPENDITURES - ADMINISTRATIVE Legislative 43 Supervisor Fees $ 2,688 $ 3,584 $ 2,700 $ (884) $ 2,700 $ - $200/mtg plus $300 travel 44 Financial & Administrative 45 Administrative Services $ 3,150 $ 4,500 $ 4,500 $ - $ 4,500 $ - 46 District Management $ 15,075 $ 20,100 $ 20,100 $ - $ 20,100 $ - 47 District Engineer $ 10,654 $ 14,205 $ - $ (14,205) $ 10,000 $ 10, Disclosure Report $ 5,000 $ 5,000 $ 1,000 $ (4,000) $ 5,000 $ 4, Trustees Fees $ - $ 5,000 $ 5,000 $ 5,000 $ - 50 Assessment Roll $ - $ 5,000 $ 5,000 $ 5,000 $ - 51 Financial & Revenue Collections $ 2,700 $ 3,600 $ 3,600 $ - $ 3,600 $ - 52 Accounting Services $ 12,000 $ 18,000 $ 18,000 $ - $ 18,000 $ - 53 Auditing Services $ 2,800 $ 4,500 $ 4,500 $ 4,500 $ - 54 Arbitrage Rebate Calculation $ - $ - $ - $ 750 $ Miscellaneous Mailings $ - $ - $ - $ - $ - $ - 59 Public Officials Liability Insurance $ 1,483 $ 1,483 $ 5,000 $ 3,517 $ 5,000 $ - 60 Legal Advertising $ 5,877 $ 7,836 $ 5,000 $ (2,836) $ 8,000 $ 3, Bank Fees $ - $ - $ 150 $ 150 $ 150 $ - 62 Dues, Licenses & Fees $ 175 $ 175 $ 75 $ (100) $ 175 $ Miscellaneous Fees $ - $ - $ 20,000 $ 20,000 $ 20,000 $ - 64 Tax Collector /Property Appraiser Fees $ - $ - $ - $ - $ 150 $ Property Taxes $ - $ - $ - $ - $ - 66 Website Hosting, Maintenance, Backup (and ) $ 2,400 $ 3,200 $ 3,000 $ (200) $ 4,000 $ 1, Legal Counsel 68 District Counsel $ 35,597 $ 47,463 $ 20,000 $ (27,463) $ 40,000 $ 20, Administrative Subtotal $ 99,599 $ 129,146 $ 117,625 $ (11,521) $ 156,625 $ 39,000 Administrative EXPENDITURES - FIELD OPERATIONS Security Operations 83 Gate Facility Maintenance $ - $ - $ - $ - $ 5,000 $ 5,000 Equalized 88 Security Camera Maintenance $ - $ - $ - $ - $ - $ - combined into line below 89 Security Monitoring Services $ 10,058 $ 13,411 $ - $ (13,411) $ 55,000 $ 55,000 Envera Contract Parcel C, K, & L Equalized 90 Electric Utility Services 91 Utility Services $ 500 $ 667 $ - $ (667) $ 5,000 $ 5,000 Estimated Equalized 111 Stormwater Control 115 Lake/Pond Bank Maintenance $ 28,214 $ 14,316 $ 6,000 $ (8,316) $ 6,000 $ - repairs completed Stratified 122 Upland Wildlife Corridor Monitoring & Maintenance $ - $ - $ - $ - $ 4,000 $ 4,000 Stratified 125 Other Physical Environment 130 General Liability Insurance $ 1,907 $ 1,907 $ 6,000 $ 4,093 $ 6,000 $ - Equalized 131 Property Insurance $ - $ - $ 6,000 $ 6,000 $ 6,000 $ - Equalized 135 Landscape Maintenance $ 62,084 $ 82,779 $ 24,000 $ (58,779) $ 50,000 $ 26,000 Estimated Equalized 144 Irrigation Repairs $ 2,601 $ 3,468 $ - $ (3,468) $ 5,000 $ 5,000 Estimated Equalized 150 Field Services $ 2,000 $ 2,667 $ - $ (2,667) $ 8,400 $ 8,400 Equalized 151 Miscellaneous Expense $ - $ - $ - $ - $ - $ Fire Ant Treatment $ - $ - $ - $ - $ - $ Road & Street Facilities 154 Gate Phone $ 1,261 $ 1,681 $ - $ (1,681) $ 7,000 $ 7,000 Internet for gate monitoring Equalized 218 Contingency 219 Miscellaneous Fees $ - $ - $ - $ - $ 200,000 $ 200,000 Misc. items coming online Contingency 220 Miscellaneous Contingency $ - $ - $ 167,100 $ 167,100 $ 12,700 $ (154,400) save for amenities online FY18-19 Contingency Field Operations Subtotal $ 108,625 $ 120,895 $ 209,100 $ 88,205 $ 370,100 $ 161, TOTAL EXPENDITURES $ 208,224 $ 250,041 $ 326,725 $ 76,684 $ 526,725 $ 200, EXCESS OF REVENUES OVER EXPENDITURES $ 62,910 $ 111,471 $ - $ 111,471 $ - $ -

94 EXHIBIT C PROPOSED ASSESSMENT TABLE

95 K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT. FISCAL YEAR 2018/2019 O&M & DEBT SERVICE ASSESSMENT SCHEDULE TOTAL O&M BUDGET $526, COLLECTION COSTS & EPD 6% $33, TOTAL O&M ASSESSMENT $560, UNITS ASSESSED $166, $156, $10, $226, ALLOCATION OF ADMINISTRATIVE ALLOCATION OF EQUALIZED FIELD ALLOCATION OF STRATIFIED FIELD COSTS COSTS COSTS ALLOCATION OF CONTINGENCY PLATTED LOTS EAU TOTAL PER UNIT EAU TOTAL PER UNIT EAU TOTAL PER UNIT EAU TOTAL PER UNIT TOTAL 2017A-1 DEBT LU 0 LOT SIZE O&M FACTOR BUDGET ASSESSMENT FACTOR BUDGET ASSESSMENT FACTOR BUDGET ASSESSMENT FACTOR BUDGET ASSESSMENT O&M SERVICE (1)(2) TOTAL (3) C Villa - Phase $9, $ $17, $ $ $ $25, $ $ $ $1, Single Family 50' $32, $ $59, $ $3, $ $86, $ $ $0.00 $ K SF 50' - Phase $12, $ $22, $ $1, $ $32, $ $ $1, $2, Single Family 65' $13, $ $25, $ $2, $ $36, $ $ $0.00 $ L SF 65' - Phase $17, $ $31, $ $2, $ $45, $ $ $1, $2, SUB - TOTAL 498 $84, $156, $10, $226, PER LOT ANNUAL ASSESSMENT $166, $0.00 $0.00 $0.00 ALLOCATION OF ADMINISTRATIVE ALLOCATION OF EQUALIZED FIELD ALLOCATION OF STRATIFIED FIELD COSTS COSTS COSTS ALLOCATION OF CONTINGENCY UNPLATTED LOTS PER LOT ANNUAL ASSESSMENT EAU TOTAL PER UNIT EAU TOTAL PER UNIT EAU TOTAL PER UNIT EAU TOTAL PER UNIT TOTAL 2017A-1 DEBT LOT SIZE O&M FACTOR BUDGET ASSESSMENT FACTOR BUDGET ASSESSMENT FACTOR BUDGET ASSESSMENT FACTOR BUDGET ASSESSMENT O&M SERVICE (1)(2) TOTAL (3) Villa $13, $ $0.00 $ $0.00 $ $0.00 $0.00 $ $0.00 $ Single Family 50' $45, $ $0.00 $ $0.00 $ $0.00 $0.00 $ $0.00 $ Single Family 65' $23, $ $0.00 $ $0.00 $ $0.00 $0.00 $ $0.00 $ SUB - TOTAL 482 $81, $0.00 $0.00 $0.00 TOTAL 980 $166, $156, $10, $226, Less: Collection Costs and Discounts ($9,997.34) ($9,408.51) ($638.30) ($13,576.60) Net Revenue to be Collected $156, $147, $10, $212, (1) The total lots with Series 2017A-1 debt outstanding is 228 units for Phase 1 of Assessment Area One. (2) Annual debt service assessment per lot adopted in connection with the Series 2017A-1 bond issuance. Annual assessment includes principal, interest, Hillsborough County collection costs and early payment (3) Annual assessment that would appear on November 2018 Hillsborough County property tax bill, if the district is able to utilize the tax roll. Amount shown includes all applicable collection costs. Property owner is eligible for a discount of up to 4% if paid early.

96 EXHIBIT D PROPOSED ASSESSMENT ROLL

97 Tab 5

98 RESOLUTION THE ANNUAL APPROPRIATION RESOLUTION OF THE K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT ( DISTRICT ) RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGETS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2018, AND ENDING SEPTEMBER 30, 2019; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the District Manager has, prior to the fifteenth (15 th ) day in June, 2018, submitted to the Board of Supervisors ( Board ) of the K-Bar Ranch II Community Developme nt District ( District ) proposed budgets ( Proposed Budget ) for the fiscal year beginning October 1, 2018 and ending September 30, 2019 ( Fiscal Year 2018/2019 ) along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Section (2)(a), Florida Statutes; and WHEREAS, at least sixty (60) days prior to the adoption of the Proposed Budget, the District filed a copy of the Proposed Budget with the local governing authorities having jurisdiction over the area included in the District pursuant to the provisions of Section (2)(b), Florida Statutes; and WHEREAS, the Board set August 9, 2018, as the date for a public hearing thereon and caused notice of such public hearing to be given by publication pursuant to Section (2)(a), Florida Statutes; and WHEREAS, the District Manager posted the Proposed Budget on the District s website at least two days before the public hearing; and WHEREAS, Section (2)(a), Florida Statutes, requires that, prior to October 1 st of each year, the Board, by passage of the Annual Appropriation Resolution, shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year; and WHEREAS, the District Manager has prepared a Proposed Budget, whereby the budget shall project the cash receipts and disbursements anticipated during a given time period, includ ing reserves for contingencies for emergency or other unanticipated expenditures during the fiscal year. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT:

99 SECTION 1. BUDGET a. The Board has reviewed the Proposed Budget, a copy of which is on file with the office of the District Manager and at the District s Local Records Office, and hereby approves certain amendments thereto, as shown in Section 2 below. b. The Proposed Budget, attached hereto as Exhibit A, as amended by the Board, is hereby adopted in accordance with the provisions of Section (2) (a), Florida Statutes ( Adopted Budget ), and incorporated herein by reference; provided, however, that the comparative figures contained in the Adopted Budget may be subsequently revised as deemed necessary by the District Manager to reflect actual revenues and expenditures. c. The Adopted Budget, as amended, shall be maintained in the office of the District Manager and at the District s Local Records Office and identified as The Budget for the K-Bar Ranch II Community Development District for the Fiscal Year Ending September 30, d. The Adopted Budget shall be posted by the District Manager on the District s official website within thirty (30) days after adoption, and shall remain on the website for at least 2 years. SECTION 2. APPROPRIATIONS There is hereby appropriated out of the revenues of the District, for Fiscal Year 2018/2019, the sum of $ to be raised by the levy of assessments and otherwise, which sum is deemed by the Board to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated in the following fashion: TOTAL GENERAL FUND DEBT SERVICE FUND SERIES TOTAL ALL FUNDS $ $ $ SECTION 3. BUDGET AMENDMENTS Pursuant to Section , Florida Statutes, the District at any time within Fiscal Year 2018/2019 or within 60 days following the end of the Fiscal Year 2018/2019 may amend its Adopted Budget for that fiscal year as follows: a. The Board may authorize an increase or decrease in line item appropriations within a fund by motion recorded in the minutes if the total appropriations of the fund do not increase.

100 b. The District Manager or Treasurer may authorize an increase or decrease in line item appropriations within a fund if the total appropriations of the fund do not increase and if the aggregate change in the original appropriation item does not exceed $10,000 or 10% of the original appropriation. c. By resolution, the Board may increase any appropriation item and/or fund to reflect receipt of any additional unbudgeted monies and make the corresponding change to appropriations or the unappropriated balance. d. Any other budget amendments shall be adopted by resolution and consistent with Florida law. The District Manager or Treasurer must establish administrative procedures to ensure that any budget amendments are in compliance with this Section 3 and Section , Florida Statutes, among other applicable laws. Among other procedures, the District Manager or Treasurer must ensure that any amendments to budget under subparagraphs c. and d. above are posted on the District s website within 5 days after adoption and remain on the website for at least 2 years. SECTION 4. EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption. PASSED AND ADOPTED THIS 9TH DAY OF AUGUST, ATTEST: K-BAR RANCH II COMMUNITY DEVELOPMENT DISTRICT Assistant Secretary By: Its: Exhibit A: Adopted Budgets for Fiscal Year 2018/2019

101 Exhibit A: Adopted Budgets for Fiscal Year 2018/2019

102 K-Bar Ranch II Community Development District kbarranchiicdd.org Proposed Budget for Fiscal Year 2018/2019 Presented by: Rizzetta & Company, Inc Old Pasco Road Suite 100 Wesley Chapel, FL rizzetta.com

103 Table of Contents Page General Fund Budget Account Category Descriptions 1 Reserve Fund Budget Account Category Descriptions 7 Debt Service Fund Budget Account Category Descriptions 8 General Fund Budget for Fiscal Year 2018/ Debt Service Fund Budget for Fiscal Year 2018/ Assessments Charts for Fiscal Year 2018/