RENAISSANCE COMMONS COMMUNITY DEVELOPMENT DISTRICT

PALM BEACH COUNTY REGULAR BOARD MEETING OCTOBER 19, 2022
1:30 P.M.

Special District Services, Inc.
The Oaks Center 2501A Burns Road
Palm Beach Gardens, FL 33410

www.renaissancecommonscdd.org 561.630.4922 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA RENAISSANCE COMMONS
COMMUNITY DEVELOPMENT DISTRICT
Compson & Associates 36 SE Third Street Boca Raton, FL. 33432
REGULAR BOARD MEETING
October 19, 2022
1:30 p.m.

Call to Order
Proof of Publication…	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
May 16, 2022 Regular Board Meeting & Public Hearing…	Page 2
Old Business
Update on Maintenance Projects
New Business
Consider Resolution No. 2022-04 – Adopting a Fiscal Year 2021/2022 Amended Budget…	Page 6
Administrative Matters
Board Members Comments
Adjourn

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Page 1

RENAISSANCE COMMONS COMMUNITY DEVELOPMENT DISTRICT PUBLIC HEARING & REGULAR BOARD MEETING
MAY 16, 2022

CALL TO ORDER

District Manager Michael McElligott called the May 16, 2022, Regular Board Meeting of the Renaissance Commons Community Development District to order at 1:37 p.m. in the Conference Room of Compson & Associates, 36 SE Third Street, Boca Raton, Florida 33432.

PROOF OF PUBLICATION

Mr. McElligott presented proof of publication that notice of the Regular Board Meeting had been published in The Palm Beach Post on April 28, 2022, and May 5, 2022, as legally required.

ESTABLISH A QUORUM

Mr. McElligott determined that the attendance of Vice Chair Carl Klepper, Supervisor Joseph Sweeney, Supervisor Shana Horvath, and Supervisor Caroline Sullivan constituted a quorum, and it was in order to proceed with the meeting.

Also in attendance were District Manager Michael McElligott of Special District Services, Inc., District Engineer Jeff Schnars of Schnars Engineering Corporation and District Counsel Scott Cochran of Billing, Cochran, Lyles, Mauro & Ramsey.

ADDITIONS OR DELETIONS TO THE AGENDA

There were no additions or deletions.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

There were no comments from the public for items not on the agenda.

APPROVAL OF MINUTES
March 16, 2022, Regular Board Meeting

Mr. McElligott presented the minutes of the March 16, 2022, Regular Board Meeting. Mr. Sweeney moved approval and Ms. Sullivan seconded that the minutes of the March 16, 2022, Regular Board Meeting be approved, as presented, and the motion carried 4-0.

At 1:39 p.m., Mr. McElligott opened the Public Hearing.

PUBLIC HEARING

RENAISSANCE COMMONS COMMUNITY DEVELOPMENT DISTRICT PUBLIC HEARING & REGULAR BOARD MEETING
MAY 16, 2022

Proof of Publication

Mr. McElligott presented proof of publication that notice of the Public Hearing had been published in The Palm Beach Post on April 28, 2022, and May 5, 2022, as legally required.

Receive Public Comments on Fiscal Year 2022/2023 Final Budget

There was no public comment.

Consider Resolution No. 2022-02 – Adopting Fiscal Year 2022/2023 Final Budget

Mr. McElligott presented Resolution No. 2022-02, entitled:

RESOLUTION NO. 2021-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE RENAISSANCE COMMONS COMMUNITY DEVELOPMENT DISTRICT  ADOPTING A FISCAL YEAR 2022/2023 BUDGET.

Mr. McElligott indicated that the budget being presented for final form was the same budget that the Board had previously seen. After some brief discussion, Mr. Sweeney moved approval and Mr. Klepper seconded and the motion carried 4-0 adopting Resolution No. 2022-02, as presented.

At 1:44 p.m. the Public Hearing was adjourned, and the Regular Board Meeting was reconvened.

OLD BUSINESS

Discussion on Maintenance for Current Year

Mr. McElligott explained that a few years ago we started putting $40,000.00 into the budget annually to perform road and sidewalk maintenance in the District. Mr. Schnars, the District Engineer, has provided a priority listing of items needed to be done. There was a lot of discussion regarding some worn street stripping. Mr. Schnars indicated that the road areas of A-9 and pert of A-6 should be the next areas to be worked on. They will work on getting a quote to start that work with a target cost of approximately $50,000.00.

RENAISSANCE COMMONS COMMUNITY DEVELOPMENT DISTRICT PUBLIC HEARING & REGULAR BOARD MEETING
MAY 16, 2022

After some more discussion, a motion was made by Ms. Sullivan and seconded by Ms. Horvath to approve a not to exceed amount of $50,000.00 to do the work in area A-9 and part of area A-6 subject to final review by staff. That motion passed 4-0.

NEW BUSINESS
Consider Resolution No. 2022-03 – Adopting a Fiscal Year 2022/2023 Meeting Schedule

Mr. McElligott presented Resolution No. 2022-03, entitled:

RESOLUTION NO. 2022-03

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE RENAISSANCE COMMONS COMMUNITY DEVELOPMENT DISTRICT, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2022/2023 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE.

Mr. Sweeney moved approval, Ms. Sullivan seconded, and the motion carried 4-0 adopting Resolution No. 2022-03, as presented.

ADMINISTRATIVE MATTERS

Mr. McElligott reminded the Board that their Form 1’s are due soon. He stated that they should receive a Form 1 in the mail, and that they can also get it online.

BOARD MEMBER COMMENTS

There were no comments from the Board Members.

ADJOURNMENT

There being no further business to come before the Board, the meeting was adjourned at 1:54 p.m. on a motion made by Mr. Klepper, seconded by Mr. Sweeney and upon being put to a vote, the motion carried 4-0.

RENAISSANCE COMMONS COMMUNITY DEVELOPMENT DISTRICT PUBLIC HEARING & REGULAR BOARD MEETING
MAY 16, 2022

Secretary	Chair/Vice Chair

RESOLUTION NO. 2022-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE RENAISSANCE COMMONS COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2021/2022 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER 189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors of the Renaissance Commons Community Development District (“District”) is empowered to provide a funding source and to impose special assessments upon the properties within the District; and,

WHEREAS, the District has prepared for consideration and approval an Amended Budget.

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

Section 1.  The Amended Budget for Fiscal Year 2021/2022 attached hereto as Exhibit “A” is hereby approved and adopted.

Section 2.  The Secretary/Assistant Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with the intent of this Resolution.

PASSED, ADOPTED and EFFECTIVE this 19th day of October, 2022.

ATTEST:	RENAISSANCE COMMONS
COMMUNITY DEVELOPMENT DISTRICT

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

Renaissance Commons Community Development District

Amended Final Budget For Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
RENAISSANCE COMMONS COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2021/2022 OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET 10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
O&M Assessments	130,068	130,168	130,168	
'ebt Assessments	576,003	576,805	576,805	
Other Revenues	0	0	0	
,nterest ,ncome	240	195	189	
				
TOTAL REVENUES	$	706,311	$	707,168	$	707,162	
				
EXPENDITURES				
Supervisor Fees	3,000	1,800	1,800	
Payroll Ta[es (mployer	240	138	138	
(ngineering/,nspections	7,500	7,500	5,018	
Management	31,524	31,524	31,524	
Secretarial	4,200	4,200	4,200	
/egal	9,500	8,500	6,318	
Assessment Roll	5,500	5,500	5,500	
Audit Fees	3,650	3,650	3,650	
Arbitrage Rebate Fee	650	650	650	
,nsurance	6,065	5,706	5,706	
/egal Advertisements	1,300	1,300	856	
Miscellaneous	900	750	534	
Postage	325	125	103	
Office Supplies	475	275	250	
'ues & Subscriptions	175	175	175	
Trustee Fee	5,500	4,784	4,784	
Website Management	2,000	2,000	2,000	
Maintenance SideZalN & Curb 	40,000	20,000	2,765	
TOTAL EXPENDITURES	$	122,504	$	98,577	$	75,971	
				
REVENUES LESS EXPENDITURES	$	583,807	$	608,591	$	631,191	
				
Bond Payments	 541,442 	 550,575 	 550,575 	
				
BALANCE	$	42,365	$	58,016	$	80,616	
				
CO81TY APPRA,S(R & TA; CO//(CTOR F((	 14,122 	 7,982 	 7,982 	
',SCO81TS FOR (AR/Y PAYM(1TS	 28,243 	 25,553 	 25,553 	
				
EXCESS/ S+ORTFALL 	$	-	$	24,481	$	47,081	
				
Carryover From Prior Year	0	0	0	
				
NET EXCESS/ S+ORTFALL 	$	-	$	24,481	$	47,081	

Fund Balance As Of 9/30/2021	
FY 2021/2022 Activity	
Fund Balance As Of 9/30/2022	

$55,324	
$24,481	
$79,805	

AMENDED FINAL BUDGET
RENAISSANCE COMMONS COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2021/2022 OCTOBER 1, 2021 - SEPTEMBER 30, 2022

RE9ENUES	FISCAL YEAR 2021/2022 BUDGET
10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Interest Income	25	100	97	
NA9 Tax Collection	541,442	549,739	549,739	
Prepaid Bond Collection	0	68,117	68,117	
Total Revenues	$	541,467	$	617,956	$	617,953	
				
EXPENDITURES				
Principal Payments (2017A 1)	336,000	325,000	325,000	
Interest Payments (2017A 1)	199,663	244,173	244,173	
Bond Redemption	5,804	2,340,000	2,340,000	
Total Expenditures	$	541,467	$	2,909,173	$	2,909,173	
				
Excess/ (Shortfall)	$	-	$	(2,291,217)	$	(2,291,220)	

Fund Balance As Of 9/30/2021	
FY 2021/2022 Activity	
Fund Balance As Of 9/30/2022	

$3,962,766	
($2,291,217)	
$1,671,549	

Note*: Reserve Fund Balances = $882,105. Revenue Fund Balance = $718,947. Prepayment Fund Balance = $70,497.
Revenue Fund Balance To Be Used To Make 11/1/2022 Interest Payment Of $97,793.
Prepayment Fund Balance To Be Used To Make 11/1/2022 Extraordinary Principal Payment of $70,000. Optional Extraordinary Principal Payments Can Be Made Commencing in 2023.
* Approximate Amounts

Series 2017A-1 Bond Refunding Information
Original Par Amount =	$12,499,000	Annual Principal Payments Due = May 1st	
Interest Rate =	3.25%	Annual Interest Payments Due =  May 1st & November 1st	
Issue Date =	March 2017		
Maturity Date =

Par Amount As Of 9/30/22 =	May 2036

$6,018,000		

Series 2017A-2 Bond Refunding Information (Paid Off In November 2018)
Original Par Amount =	$2,978,000
Interest Rate =	5.25%
Issue Date =	March 2017
Maturity Date =	May 2036

Par Amount As Of 9/30/22 =	$0