PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT

DUVAL COUNTY REGULAR BOARD MEETING MARCH 2, 2022
6:00 P.M.

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

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

AGENDA
PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT
Clubhouse of IL Villagio 9745 Touchton Road
Jacksonville, Florida 32246
REGULAR BOARD MEETING
March 2, 2022
6:00 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
November 3, 2021 Regular Board Meeting…	Page 2
Old Business
New Business
Consider Resolution No. 2022-01 – Adopting a Fiscal Year 2022/2023 Proposed Budget…	Page 4
Discussion Regarding 20-Year Stormwater Report
Administrative Matters
Board Member Comments
Adjourn

(Published daily except Saturday, Sunday and legal holidays) Jacksonville, Duval County, Florida

STATE OF FLORIDA,

S.S. COUNTY OF DUVAL,

PROOF OF PUBLICATION

Before the undersigned authority personally appeared Rhonda Fisher, who on oath says that she is the Publisher's Representative of JACKSONVILLE DAILY RECORD, a daily (except Saturday, Sunday and legal holidays) newspaper published at Jacksonville, in Duval County, Florida; that the attached copy of advertisement, being a Fiscal Year 2021/2022 Regular Meeting Schedule

in the matter of Principal One Community Development District

in the Court of Duval County, Florida, was published in said newspaper in the issues of 9/24/21

Affiant further says that the said JACKSONVILLE DAILY RECORD is a newspaper at Jacksonville, in said Duval County, Florida, and that the said newspaper has heretofore been continuously published in said Duval County, Florida, each day (except Saturday, Sunday and legal holidays) and has been entered as periodicals matter at the post office in Jacksonville, in said Duval County, Florida, for a period of one year next preceding the first publication of the attached copy of advertisement; and affiant further says that she has neither paid nor promised any person, firm or corporation any discount, rebate, commission or refund for the purpose of securing this advertisement for publication in said newspaper.
*This notice was placed on the newspaper's website and floridapublicnotices.com on the same day the notice appeared in the newspaper.

Rhonda Fisher
Sworn to and subscribed before me this 24th day of September, 2021 A.D. by Rhonda Fisher who is personally known to me.

Seal	Notary Public, State of Florida

PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
NOVEMBER 3, 2021

CALL TO ORDER

District Manager Jason Pierman called the September 3, 2021, Regular Board Meeting of the Principal One Community Development District (the “District”) to order at 6:07 p.m. in the Clubhouse of Il Villagio located at 9745 Touchton Road, Jacksonville, Florida 32246.

PROOF OF PUBLICATION

Mr. Pierman presented proof of publication that notice of the Regular Board Meeting had been published in the Jacksonville Daily Record on September 24, 2021, as part of the District’s Fiscal Year 2021/2022 Meeting Schedule, as legally required.

ESTABLISH A QUORUM

Mr. Pierman determined that the attendance of Chairperson Michelle Hepke, Vice Chairman Brian Hepke and Supervisors Ilona Macy and Mike Chevalier constituted a quorum and it was in order to proceed with the meeting.

Also present was District Manager Jason Pierman of Special District Services, Inc.

ADDITIONS OR DELETIONS TO THE AGENDA

There were no additions or deletions to the agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

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

APPROVAL OF MINUTES
June 2, 2021, Public Hearing & Regular Board Meeting

Mr. Pierman presented the minutes of the June 2, 2021, Public Hearing & Regular Board Meeting and asked if there were any changes/corrections.

There being none, a motion was then made by Mr. Hepke, seconded by Ms. Macy and passed unanimously approving the minutes of the June 2, 2021, Public Hearing & Regular Board Meeting, as presented.

OLD BUSINESS

There were no Old Business items to come before the Board.

NEW BUSINESS

Consider Resolution No. 2021-05 – Adopting a Fiscal Year 2020/2021 Amended Budget

Mr. Pierman presented Resolution No. 2021-05, entitled:

RESOLUTION NO. 2021-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2020/2021 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER
189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

A motion was made by Ms. Macy, seconded by Mr. Hepke and passed unanimously adopting Resolution No. 2021-05, as presented.

Discussion Regarding Lake Bank

Mr. Pierman noted that he had spoken with the Association Manager, Mr. Sheffield, about the lake bank, and he had explained that the retaining wall was going to be removed. Mr. Pierman noted that he would follow up with Mr. Sheffield and request that he meet with Mrs. Hepke to discuss the front landscaping.

ADMINISTRATIVE MATTERS

Mr. Pierman noted that the next meeting was scheduled for March 2, 2022.

BOARD MEMBER COMMENTS

There were no comments from the Board Members.

ADJOURNMENT

There being no further business to come before the Board, a motion was made by Mr. Hepke, seconded by Mr. Chevalier and unanimously passed to adjourn the meeting at 6:26 p.m.

Secretary/Assistant Secretary	Chair/Vice-Chair

RESOLUTION NO. 2022-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2022/2023; AND PROVIDING AN EFFECTIVE DATE.

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

WHEREAS, the Proposed Budget including the Assessments for Fiscal Year 2022/2023 has been prepared and considered by the Board.

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

Section 1. The Proposed Budget including the Assessments for Fiscal Year 2022/2023 attached hereto as Exhibit “A” is approved and adopted.

Section 2.       A Public Hearing is hereby scheduled for      June 1, 2022    at   6:00 p.m. in the Clubhouse of IL Villagio located at 9745 Touchton Road, Jacksonville, Florida 32246, for the purpose of receiving public comments on the Proposed Fiscal Year 2022/2023 Budget.

PASSED, ADOPTED and EFFECTIVE this 2nd day of March, 2022.

ATTEST:	PRINCIPAL ONE
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairman/Vice Chairman

Principal One Community Development District

Proposed Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
O & M A  e   e   	57 77 	
 e  A e  e   	 30 0  	
O her Reve ue 	0	
   ere      o e	  0	
		
TOTAL REVENUES	 	287,903	
		
E PENDITURES		
     eer  /  pe  o  	  000	
Superv or Fee 	0	
M   e e  	 7 0  	
 e   	  000	
A  e   e   Ro  	5 000	
Au  Fee 	3 00	
   ur   e	  000	
 e    A ver  e e   	550	
M  e   eou 	  5	
 o   e	 00	
Off e Supp e 	350	
 ue  & Su   r p  o  	 75	
Tru ee Fee	  500	
Co    u         o ure Fee	300	
We   e M    e e  	  000	
Co     e y	374	
		
TOTAL E PENDITURES	 	53,270	
		
REVENUES LESS E PENDITURES	 	23 , 33	
		
 o    y e   	         	
		
BALANCE	 	23,022	
		
Cou y Appr er & T x Co e or Fee 	    5   	
    ou   For   r y  y e   	    5   	
		
E CESS/ S ORTFALL 	 	 	
		
C rryover Fro r or Ye r	0	
		
NET E CESS/ S ORTFALL 	 	 	

DETAILED PROPOSED BUDGET
PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2020/2021 ACTUAL	
FISCAL YEAR 2021/2022 BUDGET	
FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	
O & M A  e   e   	5 0 7	57 77 	57 77 	 xpe    ure   e      ere & C rryover/.  	
 e  A e  e   	 30 0 4	 30 0  	 30 0  	 o    y e  /.  	
O her Reve ue 	0	0	0		
   ere      o e	 4 	  0	  0	 ro e  e A	0.00 er Mo h	
					
TOTAL REVENUES	 	288,222	 	287,903	 	287,903		
					
E PENDITURES					
     eer   /   pe   o  	  000	  000	  000	No Ch e Fro  0  / 0    u  e 	
Superv or Fee 	0	0	0	No Ch e Fro  0  / 0    u  e 	
M   e e  	 5 5 	   3  	 7 0  	C  A u  e   C ppe    3  	
 e   	 47	  000	  000	No Ch e Fro  0  / 0    u  e 	
A  e   e  Ro  	5 000	5 000	5 000	No Ch e Fro  0  / 0    u  e 	
Au  Fee 	3 700	3 00	3 00	A ep e A ou  For 0  / 0  Au   	
   ur   e	5 5 3	  000	  000	   ur  e        e	
 e    A ver  e e   	 47	 00	550	 50 e re  e Fro  0  / 0    u  e 	
M  e  eou 	   	 50	  5	  5 e re e Fro  0  / 0   u  e 	
 o    e	  4	 00	 00	No Ch e Fro  0  / 0    u  e 	
Off e Supp e 	 37	400	350	 50 e re  e Fro  0  / 0    u  e 	
 ue & Su  r p o  	 75	 75	 75	No Ch e Fro  0  / 0    u  e 	
Tru ee Fee	  500	  500	  500	No Ch e Fro  0  / 0    u  e 	
Co    u         o ure Fee	300	300	300	No Ch   e Fro   0  / 0    u  e 	
We   e M    e e  	  000	  000	  000	No Ch  e Fro  0  / 0    u  e 	
Co  e y	0	     	374	Co  e y	
					
TOTAL E PENDITURES	 	 8,281	 	53,270	 	53,270		
					
REVENUES LESS E PENDITURES	 	239,9 1	 	23 , 33	 	23 , 33		
					
 o    y e   	   3  3 	         	         	 0 3   &    y e     e      r e    ere  	
					
BALANCE	 	2 ,028	 	23,022	 	23,022		
					
Cou y Appr er & T x Co e or Fee 	   7   	    5   	    5   	Four er e  Of To  A  e   e   Ro  	
    ou   For  r y  y e   	  0 440 	    5   	    5   	Four er e  Of To  A  e   e   Ro  	
					
E CESS/ S ORTFALL 	 	5,870	 	 	 	 		
					
C rryover Fro  r or Ye r	0	0	0	C rryover          e Fro   r or Ye r	
					
NET E CESS/ S ORTFALL 	 	5,870	 	 	 	 		

DETAILED PROPOSED DEBT SERVICE BUDGET
PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021 ACTUAL	FISCAL YEAR 2021/2022 BUDGET	FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	

   ere      o e	
7 	
 5	
 5	
 ro e  e    ere For 0  / 0 3	

NA T x Co e o 	
  3  3	

M x  u  e  Serv e Co e  o 	

Total Revenues	
 	
213,985	
 	
211, 3 	
 	
211, 3 		

E PENDITURES					

 r   p    y e   	
 45 000	
 50 000	
 55 000	
 r   p    y e    ue    0 3	

   ere     y e   	
   000	
5  50	
55 75 	
   ere     y e    ue     0 3	

 o  Re e p o 	
0	
     	
  0	
       e  x e   e  Co e  o  	

Total Expenditures	
 	
211,000	
 	
211, 3 	
 	
211, 3 		

Excess/ Shortfall 	
 	
2,985	

 	

Series 201 Bond Refunding Information
Or         r A ou  =	    45 000	A u   r   p    y e    ue =	M y    	
   ere R e =	 .75 	A  u     ere     y e     ue =	M y     & Nove er    	
   ue    e =	M y 0  			
M ur y   e =

  r A ou  A Of  / /   =	M y 035

    55 000			

Principal One Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2019/2020	2020/2021	2021/2022	2022/2023	
   Assessment*  	    Assessment*	    Assessment*	    Assessment*	  Projected Assessment*	

O & M

132.98

131.30

131.30

131.30

131.30

Debt

 	 17.02

 	523.95

 	523.95

 	523.95

 	523.95

Total

750.00

 55.25

 55.25

 55.25

 55.25

* A  e   e       u  e  he Fo  ow 4     ou for r y y e   
   Cou y T x Co e or Fee
   Cou y roper y Appr er Fee
Co  u  y  for  o  		 To U	440
 rep y e   	 
    e for e	43 

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