PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT

DUVAL COUNTY Regular Board Meeting November 5, 2025
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
November 5, 2025
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
August 29, 2024 Regular Board Meeting & Public Hearing…	Page 2
Old Business
New Business
Discussion Regarding Maintenance Agreement with Il Villagio Association
Consider Resolution No. 2025-05 – Adopting a Fiscal Year 2024/2025 Amended Budget…	Page 5
Consider Resolution No. 2025-06 – Goals and Objectives Annual Report…	Page 10
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 2025/2026 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 9/11/25.

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 11th day of September, 2025 by Nichol Stringer who is personally known to me.

Seal	Notary Public, State of Florida

PROOF OF PUBLICATION

DUVAL COUNTY

PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT PUBLIC HEARING & REGULAR BOARD MEETING AUGUST 29, 2025

CALL TO ORDER

District Manager Jason Pierman called the August 29, 2025, Regular Board Meeting of the Principal One Community Development District (the “District”) to order at 7:05 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 August 14, 2025, and August 21, 2025, as legally required.

ESTABLISH A QUORUM

Mr. Pierman determined that the attendance of Chairperson Dyanna Jordan, Vice Chairman Ryan Hagen and Supervisor Carlos Maymi 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
May 7, 2025, Regular Board Meeting
Mr. Pierman presented the minutes of the May 7, 2025, Regular Board Meeting and asked if there were any changes/corrections.
A motion was made by Mr. Maymi, seconded by Mr. Hagen and passed unanimously approving the minutes of the May 7, 2025, Regular Board Meeting, as presented.
OLD BUSINESS

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

NEW BUSINESS
Discussion Regarding Maintenance Agreement with Il Villagio Association

Mr. Pierman explained that the POA had agreed to take the lead on maintaining the District’s improvements but had requested that the District help fund the maintenance costs. He further explained
Page 1 of 3

that other districts had similar agreements, where the District provides funding to the POA. Following discussion, a motion was made by Mr. Hagen, seconded by Ms. Jordan, and unanimously passed directing staff to draft an agreement and send it to the POA for review.

Consider Ratification of Landscape Enhancements

A motion was made by Mr. Hagen, seconded by Ms. Jordan and passed unanimously ratifying the landscape enhancements, as presented.

Consider Proposal for Pipe Inspection

A motion was made by Mr. Hagen, seconded by Ms. Jordan and passed unanimously approving the pipe inspection proposal, as presented.

Consider Resolution No. 2025-02 – Resetting Public Hearing Date to Adopt a Fiscal Year 2025/2026 Final Budget

Mr. Pierman presented Resolution No. 2025-02, entitled:

RESOLUTION NO. 2025-02

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT AMENDING RESOLUTION NO. 2025-01; AMENDING THE DATE AND TIME FOR THE PUBLIC HEARING TO CONSIDER THE FISCAL YEAR 2025/2026 FINAL BUDGET AND ASSESSMENTS AND AUTHORIZING THE SECRETARY AND DISTRICT MANAGER TO TAKE CERTAIN ACTIONS TO ACCOMPLISH THE INTENT OF THIS RESOLUTION; AND PROVIDING AN EFFECTIVE DATE.
A motion was made by Mr. Maymi, seconded by Ms. Jordan and passed unanimously adopting Resolution No. 2025-02, as presented.
Consider Resolution No. 2025-03 – Adopting a Fiscal Year 2025/2026 Meeting Schedule
Mr. Pierman presented Resolution No. 2025-03, entitled:
RESOLUTION NO. 2025-03
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2025/2026 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE.

A motion was made by Mr. Hagen, seconded by Ms. Jordan and passed unanimously adopting Resolution No. 2025-03, as presented.

Mr. Pierman then recessed the Regular Board Meeting and opened the Public Hearing.

PUBLIC HEARING
Proof of Publication

Mr. Pierman presented proof of publication that notice of the Public Hearing had been published in the
Jacksonville Daily Record on August 14, 2025, and August 21, 2025, as legally required.

Receive Public Comment on Fiscal Year 2025/2026 Final Budget

Mr. Pierman noted that no members of the public were in attendance.

Consider Resolution No. 2025-04 – Adopting a Fiscal Year 2025/2026 Final Budget

Mr. Pierman presented Resolution No. 2025-04, entitled:

RESOLUTION NO. 2025-04

A RESOLUTION OF THE PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT ADOPTING A FISCAL YEAR 2025/2026 BUDGET.

A motion was made by Mr. Hagen, seconded by Ms. Jordan and passed unanimously adopting Resolution No. 2025-04, as presented.

Mr. Pierman then closed the Public Hearing and reconvened the Regular Board Meeting.
ADMINISTRATIVE MATTERS
There were no Administrative Matters to come before the Board.

BOARD MEMBER COMMENTS

Mr. Pierman noted that the next meeting was scheduled for November 5, 2025.

ADJOURNMENT
There being no further business to come before the Board, a motion was made by Ms. Jordan, seconded by Mr. Hagen and unanimously passed adjourning the meeting at 7:14 p.m.

Secretary/Assistant Secretary	Chair/Vice-Chair

RESOLUTION NO. 2025-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2024/2025 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER 189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors of the Principal One 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 PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT, THAT:

Section 1.  The Amended Budget for Fiscal Year 2024/2025 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 5th day of November, 2025.

ATTEST:	PRINCIPAL ONE
COMMUNITY DEVELOPMENT DISTRICT

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

Principal One Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2024/2025 BUDGET
10/1/24 - 9/30/25	AMENDED FINAL BUDGET
10/1/24 - 9/30/25	YEAR TO DATE ACTUAL
10/1/24 - 9/29/25	
O & M Assessments	102,022	102,212	102,212	
Debt Assessments	230,011	230,074	230,074	
Other Revenues	0	0	0	
Interest Income	600	6,000	5,897	
				
TOTAL REVENUES	$	332,633	$	338,286	$	338,183	
				
EXPENDITURES				
Engineering/Inspections	2,000	2,000	940	
Supervisor Fees	0	0	0	
Management	31,824	31,824	31,824	
Legal	2,500	2,500	1,631	
Assessment Roll	5,000	5,000	5,000	
Audit Fees	4,100	3,900	3,900	
Insurance	7,250	6,858	6,858	
Legal Advertisements	600	1,100	823	
Miscellaneous	900	1,400	1,272	
Postage	200	410	395	
Office Supplies	325	625	579	
Dues & Subscriptions	175	175	175	
Trustee Fee	2,500	2,500	2,500	
Continuing Disclosure Fee	300	300	300	
Website Management	2,000	2,000	2,000	
Contingency (Storm Drain Line Repairs, Etc.)	350	63,100	14,200	
Landscape Maintenance	12,000	12,000	12,000	
Additional Landscape Maintenance	13,000	10,000	6,781	
Lake Maintenance	2,000	2,121	2,121	
Maintenance Reserve	7,436	4,000	0	
TOTAL EXPENDITURES	$	94,460	$	151,813	$	93,299	
				
REVENUES LESS EXPENDITURES	$	238,173	$	186,473	$	244,884	
				
Bond Payments	(211,611)	(213,930)	(213,930)	
				
BALANCE	$	26,562	$	(27,457)	$	30,954	
				
County Appraiser & Tax Collector Fee	(13,281)	(11,206)	(11,206)	
Discounts For Early Payments	(13,281)	(12,108)	(12,108)	
				
EXCESS/ (SHORTFALL)	$	-	$	(50,771)	$	7,640	
				
Carryover From Prior Year	0	0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	(50,771)	$	7,640	

FUND BALANCE AS OF 9/30/24	
FY 2024/2025 ACTIVITY	
FUND BALANCE AS OF 9/30/25	

$114,636	
($50,771)	
$63,865	

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

REVENUES	FISCAL YEAR 2024/2025 BUDGET
10/1/24 - 9/30/25	AMENDED FINAL BUDGET
10/1/24 - 9/30/25	YEAR TO DATE ACTUAL
10/1/24 - 9/29/25	
Interest Income	500	4,432	4,432	
NAV Tax Collection	211,611	213,930	213,930	
Total Revenues	$	212,111	$	218,362	$	218,362	
				
EXPENDITURES				
Principal Payments	165,000	165,000	165,000	
Interest Payments	47,094	49,363	49,363	
Bond Redemption	17	0	0	
Total Expenditures	$	212,111	$	214,363	$	214,363	
				
Excess/ (Shortfall)	$	-	$	3,999	$	3,999	

FUND BALANCE AS OF 9/30/24	
FY 2024/2025 ACTIVITY	
FUND BALANCE AS OF 9/30/25	

$171,755	
$3,999	
$175,754	

Notes
Reserve Fund Balance = $75,782*. Revenue Fund Balance = $93,787* Redemption Fund Balance = $6,185*.
Revenue Fund Balance To Be Used To Make 11/1/2025 Interest Payment Of $22,413.
* Approximate Amounts

Series 2016 Bond Refunding Information		
Original Par Amount =	$2,945,000	Annual Principal Payments Due:	
Interest Rate =	2.75%	May 1st	
Issue Date =	May 2016	Annual Interest Payments Due:	
Maturity Date =	May 2035	May 1st & November 1st	
Par Amount As Of 9/30/25 =	$1,630,000		

RESOLUTION NO. 2025-06

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT ADOPTING AN ANNUAL REPORT OF GOALS, OBJECTIVES, AND PERFORMANCE MEASURES AND STANDARDS; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Principal One Community Development District (the “District”) is a local unit of special-purpose government organized and existing under and pursuant to Chapters 189 and 190, Florida Statutes, as amended; and

WHEREAS, effective July 1, 2024, the Florida Legislature adopted House Bill 7013, codified as Chapter 2024-136, Laws of Florida, and creating Section 189.0694, Florida Statutes; and

WHEREAS, the District adopted Resolution 2024-04 on November 6, 2024, establishing goals and objectives for the District and creating performance measures and standards to evaluate the District’s achievement of those goals and objectives; and

WHEREAS, pursuant to Section 189.0694, Florida Statutes, the District must adopt and publish on its website an annual report prior to December 1st of each year, describing the goals and objectives achieved by the district, as well as the performance measures and standards used by the district to make this determination, and any goals or objectives the district failed to achieve.
WHEREAS, the District Manager has the annual report of the District’s goals, objectives, and performance measures and standards attached hereto and made a part hereof as Exhibit A (the “Annual Report”) and presented the Annual Report to the Board of the District; and

WHEREAS, the District’s Board of Supervisors (“Board”) finds that it is in the best interests of the District to adopt by resolution the attached annual report of the goals, objectives and performance measures and standards.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT, THAT:
SECTION 1. The recitals so stated are true and correct and by this reference are incorporated into and form a material part of this Resolution.

SECTION 2. The District Board of Supervisors hereby adopts the Annual Report regarding the District’s success or failure in achieving the adopted goals and objectives and directs the District Manager to take all necessary actions to comply with Section 189.0694, Florida Statutes.

SECTION 3. If any provision of this Resolution is held to be illegal or invalid, the other provisions shall remain in full force and effect.

SECTION 4. This Resolution shall become effective upon its passage and shall remain in effect unless rescinded or repealed.

PASSED AND ADOPTED this 5th day of November, 2025.

ATTEST:	PRINCIPAL ONE COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairman, Board of Supervisors

Exhibit A: Annual Report of Performance Measures/Standards

Exhibit A

Program/Activity:	District Administration
Goal:	Remain compliant with Florida Law for all district meetings
Objectives:
Notice all District regular, special, and public hearing meetings
Conduct all post-meeting activities
District records retained in compliance with Florida Sunshine Laws
Performance Measures:
All Meetings publicly noticed as required (YES)
Meeting minutes and post-meeting action completed (YES)
District records retained as required by law (YES)

Program/Activity:	District Finance
Goal:	Remain Compliant with Florida Law for all district financing activities
Objectives:
District adopted fiscal year budget
District amended budget at end of fiscal year
Process all District finance accounts receivable and payable
Support District annual financial audit activities
Performance Measures:
District adopted fiscal year budget (YES)
District amended budget at end of fiscal year (YES)
District accounts receivable/payable processed for the year (YES)
“No findings” for annual financial audit (NO)
If “yes” explain

Program/Activity:	District Operations
Goal:	Insure, Operate and Maintain District owned Infrastructure & assets
Objectives:
Annual renewal of District insurance policy(s)
Contracted Services for District operations in effect
Compliance with all required permits
Performance Measures:
District insurance renewed and in force (YES)
Contracted Services in force for all District operations (YES)
Permits in compliance (YES)