PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT

DUVAL COUNTY REGULAR BOARD MEETING MAY 1, 2024
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 May 1, 2024
6:00 p.m.

Call to Order
Proof of Publication	Page 1
Consider Resignation and Appointment to Board Vacancy	Page 2
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items not on the Agenda
Approval of Minutes
November 17, 2023 Regular Board Meeting	Page 3
Old Business
New Business
Consider Resolution No. 2024-01 – Adopting a Fiscal Year 2024/2025 Proposed Budget	Page 6
Ratification of Pressure Washing Proposal	Page 13
Discussion Regarding Required Ethics Training	Page 14
Administrative Matters
Board Member Comments
Adjourn

STATE OF FLORIDA,

S.S. COUNTY OF DUVAL,
Before the undersigned authority personally appeared Nichol Stringer, who on oath says that she is the Publisher's Representative of the JACKSONVILLE DAILY RECORD, a weekly newspaper published at Jacksonville, in Duval County, Florida; that the attached copy of advertisement, being a
Fiscal Year 2023/2024 Regular Meeting Schedule

in the matter of Principal One Community Development District

in the Court, was published in said newspaper by print in the issues of 9/21/23.

Affiant further says that the JACKSONVILLE DAILY RECORD complies with all legal requirements for publication in Chapter 50, Florida Statutes.

*This notice was published on both jaxdailyrecord.com and floridapublicnotices.com.

Nichol Stringer
Sworn to and subscribed before me this 21st day of September, 2023 by Nichol Stringer who is personally known to me.

Seal	Notary Public, State of Florida

PROOF OF PUBLICATION

DUVAL COUNTY

Tricia Lascasas

From:	Victoria Shirk <vshirk@yahoo.com>
Sent:	Thursday, January 25, 2024 10:05 AM
To:	Jason Pierman
Cc:	Tricia Lascasas
Subject:	Letter of Resignation

Hello Jason,
I regret to inform you I am resigning from the Principal One Community Development District board effective January 31, 2024.
Please advise if any additional information is necessary. I appreciate working with you and wish the group the best of luck.
Victoria Shirk 954-471-3401

1

PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
NOVEMBER 17, 2023

CALL TO ORDER

District Manager Jason Pierman called the November 17, 2023, Regular Board Meeting of the Principal One Community Development District (the “District”) to order at 6:02 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 November 9, 2023, as legally required.

ESTABLISH A QUORUM

Mr. Pierman determined that the attendance of Chairperson Michelle Hepke, Vice Chairman Brian Hepke and Supervisor Victoria Shirk 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. Also present District resident Javier.
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
August 10, 2023, Public Hearing & Regular Board Meeting
Mr. Pierman presented the minutes of the August 10, 2023, Public Hearing & Regular Board Meeting and asked if there were any changes/corrections.

A motion was made by Mr. Hepke, seconded by Ms. Shirk and passed unanimously approving the minutes of the August 10, 2023, 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. 2023-06 – Adopting a Fiscal Year 2022/2023 Amended Budget

Resolution No. 2023-06 was presented, entitled:

RESOLUTION NO. 2023-06

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

A motion was made by Ms. Shirk, seconded by Mr. Hepke and passed unanimously adopting Resolution No. 2023-06, as presented.

Consider Ratification of Solitude Lake Maintenance Agreement

A motion was made by Mr. Hepke, seconded by Ms. Shirk and passed unanimously ratifying the Solitude Lake Maintenance Agreement, as presented.

Consider Ratification of Greenway Landscape Maintenance Agreement

A motion was made by Mr. Hepke, seconded by Ms. Shirk and passed unanimously ratifying the Greenway Landscape Maintenance Agreement, as presented.

Consider Ratification of Mulch Masters Agreement

A motion was then made by Mr. Hepke, seconded by Ms. Shirk and passed unanimously ratifying the Mulch Masters’ Agreement, as presented.

Discussion Regarding Sidewalk Repair
Mr. Pierman explained that, despite assurances, the Association had not yet repaired the sidewalk. Mr. Hepke stated that he would solicit proposals to get the work done. Due to the importance of the matter, there was a Board consensus for the work to be done and to ratify the agreement during the next Board meeting. Mrs. Hepke noted that she would speak with the landscapers about getting plants installed.
ADMINISTRATIVE MATTERS

Mr. Pierman explained that, beginning in 2024, Board Members would be required to complete four hours of state ethics training each year. More information will be provided. Mr. Pierman also stated that the next meeting would take place in March or April.

BOARD MEMBER COMMENTS

There were no further Board Member comments.

ADJOURNMENT

There being no further business to come before the Board, a motion was made by Mrs. Hepke, seconded by Ms. Shirk and unanimously passed adjourning the meeting at 6:20 p.m.

Secretary/Assistant Secretary	Chair/Vice-Chair

RESOLUTION NO. 2024-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2024/2025; 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 2024/2025 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 2024/2025 attached hereto as Exhibit “A” is approved and adopted.

Section 2.	A Public Hearing is hereby scheduled for 	, 2024 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 2024/2025 Budget.

PASSED, ADOPTED and EFFECTIVE this 1st day of May, 2024.

ATTEST:	PRINCIPAL ONE
COMMUNITY DEVELOPMENT DISTRICT

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

Principal One Community Development District

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

CONTENTS

PROPOSED BUDGET

II	DETAILED PROPOSED BUDGET

Ill	DETAILED PROPOSED DEBT SERVICE FUND BUDGET

IV	ASSESSMENT COMPARISON

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

REVENUES	
FISCAL YEAR 2024/2025 BUDGET	
0 & M Assessments	102,022	
Debt Assessments	230,011	
Other Revenues	0	
Interest Income	600	
TOTAL REVENUES	$	332,633	
		
EXPENDITURES		
Engineering/Inspections	2,000	
Supervisor Fees	0	
Management	31,824	
Legal	2,500	
Assessment Roll	5,000	
Audit Fees	4,100	
Insurance	7,250	
Legal Advertisements	600	
Miscellaneous	900	
Postage	200	
Office Sup	ies	325	
Dues & Subscriptions	175	
Trustee Fee	2,500	
Continuing Disclosure Fee	300	
Website Management	2,000	
Contingency	350	
Landscape Maintenance	12,000	
Additional Landscape Maintenance	13,000	
Lake Maintenance	2,000	
Maintenance Reserve	7,436	
TOTAL EXPENDITURES	$	94,460	
		
REVENUES LESS EXPENDITURES	$	238,173	
		
Bond Payments	(211,611)	
		
BALANCE	$	26,562	
		
County Appraiser & Tax Collector Fees	(13,281)	
Discounts For Early Payments	(13,281)	
		
EXCESS/ (SHORTFALL)	$	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	

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

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

COMMENTS	
0 & M Assessments	58,052	102,022	102,022	Expenditures Less Interest & Carryover/.92	
Debt Assessments	230,014	230,011	230,011	Bond Payments/.92	
Other Revenues	0	0	0		
Interest Income	4,465	240	600	Projected At $50.00 Per Month	
TOTAL REVENUES	$	292,531	$	332,273	$	332,633		
					
EXPENDITURES					
Engineering/Inspections	745	2,000	2,000	No Change From 2023/2024 Budget	
Supervisor Fees	0	0	0	No Change From 2023/2024 Budget	
Management	27,096	30,900	31,824	CPI Adjustment (Capped At 3%)	
Legal	7,439	1,500	2,500	$1,000 Increase From 2023/2024 Budget	
Assessment Roll	5,000	5,000	5,000	No Change From 2023/2024 Budget	
Audit Fees	3,900	4,000	4,100	$100 Increase From 2023/2024 Budget	
Insurance	6,134	6,500	7,250	Fiscal Year 2023/2024 Insurance Was $6,594	
Legal Advertisements	573	550	600	$50 Increase From 2023/2024 Budget	
Miscellaneous	889	800	900	$100 Increase From 2023/2024 Budget	
Postage	623	200	200	No Change From 2023/2024 Budget	
Office Supplies	557	325	325	No Change From 2023/2024 Budget	
Dues & Subscriptions	175	175	175	No Change From 2023/2024 Budget	
Trustee Fee	2,500	2,500	2,500	No Change From 2023/2024 Budget	
Continuing Disclosure Fee	300	300	300	No Change From 2023/2024 Budget	
Website Management	2,000	2,000	2,000	No Change From 2023/2024 Budget	
Contingency	0	350	350	No Change From 2023/2024 Budget	
Landscape Maintenance	0	12,000	12,000	Landscape Maintenance	
Additional Landscape Maintenance	0	13,000	13,000	Mulch, Tree Trimming, Re	acements	
Lake Maintenance	0	2,000	2,000	Lake Maintenance	
Maintenance Reserve	0	10,000	7,436	Maintenance Reserve	
TOTAL EXPENDITURES	$	57,931	$	94,100	$	94,460		
					
REVENUES LESS EXPENDITURES	$	234,600	$	238,173	$	238,173		
					
Bond Payments	(213,860)	(211,611)	(211,611)	2025 P & I Payments	
					
BALANCE	$	20,740	$	26,562	$	26,562		
					
County Appraiser & Tax Collector Fees	(9,715)	(13,281)	(13,281)	Four Percent Of Total Assessment Roll	
Discounts For Early Payments	(10,502)	(13,281)	(13,281)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	523	$	-	$		
					
Carryover From Prior Year	0	0	0	Carryover Balance From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	523	$	-	$		

DETAILED PROPOSED DEBT SERVICE BUDGET
PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

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

COMMENTS	
Interest Income	3,637	100	500	Projected Interest For 2024/2025	

NAV Tax Collection	
213,860	
211,611	
211,611	
Maximum Debt Service Collection	

Total Revenues	
$	217,497	
$	211,711	
$	212,111		

EXPENDITURES					

Principal Payments	
155,000	
155,000	
165,000	
Principal Payment Due In 2025	

Interest Payments	
57,888	
52,494	
47,094	
Interest Payments Due In 2025	

Bond Redemption	
0	
4,217	
17	
Estimated Excess Debt Collections	

Total Expenditures	
$	212,888	
$	211,711	
$	212,111		

Excess/ (Shortfall)	
$	4,609	
$	-	
$		

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

Series 2016 Bond Refunding Information

$2,945,000	Annual Principal Payments Due = 2.75%	Annual Interest Payments Due= May 2016
May 2035

May 1st
May 1st & November 1st

Par Amount As Of 1/1/24 =	$1,950,000

Principal One Community Development District Assessment Comparison

Fiscal Year
2020/2021
Assessment*	Fiscal Year
2021/2022
Assessment*	Fiscal Year
2022/2023
Assessment*	Fiscal Year
2023/2024
Assessment*	Fiscal Year
2024/2025
Projected Assessment*	

O&M	
$	131.30		
$	131.30		
$	131.30		
$	231.87		
$	
231.87	
Debt	$	523.95		$	523.95		$	523.95		$	523.95		$	523.95	
Total	$	655.25		$	655.25		$	655.25		$	755.82		$	755.82	

* Assessments Include the Following : 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information: Total Units Prepayments
Billed for Debt

440
1
439

4/22/2024 8:57 AM	IV

Page 12

5644 Hickson Rd	Estimate	
Jacksonville, FL 32207	Order No.	Date	
	2587	3/25/2024	
(904) 318-7474	Start	End	

1:30 PM

12:30 PM

ttps://www.ohanapressurewashing.com ohanapressurewashing@gmail.com

		

				
CDD ll Villagio Condos	Primary Address	Stuart Kral	
9745 Touchton Rd
Jacksonville, FL 32246	9745 Touchton Rd
Jacksonville, FL 32246	Stuart Kral	
		:	
Phone:

(904) 535-9075	Brian Hepke	(904) 535-9075	

	

	
1	Wall - Soft wash both sides of perimeter wall than runs alongside touchton rd to deer lake dr. to remove organic stains. approx. 1770 liner feet	3,575.00	3,575.00	
Notes:			
	
	$3,575.00	

	
	$3,575.00	

	
		
	Due Upon Receipt	

e

Date

Date Printed: 3/25/2024

Ethics Training

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

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

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

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

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

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