MINUTES OF MEETING

Tomoka Community Development District Board of Supervisors Meeting
Tuesday, August 6, 2024, at 1:00 p.m. Hampton Inn, 150 Flagler Plaza Drive, Palm Coast, FL 32137

Present and constituting a quorum:

Kelly White Rick Southwick Nika Hosseini Ida Babazadeh

Also present were:

Chairperson Assistant Secretary Assistant Secretary Assistant Secretary

Vivian Carvalho	District Manager, PFM Group Consulting LLC
Kwame Jackson	 Asst. District Manager, PFM Group Consulting LLC  (via phone) Jennifer Glasgow	District Accountant, PFM Group Consulting LLC	(via phone) Rachel Proctor	 District Accountant, PFM Group Consulting LLC	(via phone) Margie Hall	 HOA Manager

Katie Buchanan	District Counsel, Kutak Rock LLP Dick Smith	Project Manager, ICI Homes
Sete Zare	MBS Capital Markets (via phone)

FIRST ORDER OF BUSINESS	Organizational Matters

(via phone) (via phone)

Call to Order and Roll Call

The meeting was called to order by Ms. Carvalho at 1:01 p.m. and roll call was initiated. Those in attendance are outlined above.

Public Comment Period

There were no public comments.

Administration of Oath of Office to
Newly Appointed Board Member

Ms. Carvalho stated that Mr. Rick Southwick and Ms. Ida Babazadeh were sworn in prior to the meeting and both waived compensations.

Consideration of Resolution 2024-06, Amending	Resolution	2024-04	to

Reset the Date of the Public Hearing for the Adoption of the Fiscal Year 2025 Proposed Budget

Ms. Carvalho stated that this satisfies the requirements for rescheduling the public hearing.

ON MOTION by Ms. Hosseini, seconded by Ms. White, with all in favor, the Board approved Resolution 2024-06, Amending Resolution 2024-04 to reset the Date of the Public Hearing for the Adoption of the Fiscal Year 2025 Proposed Budget.

Consideration of Resolution 2024-07, Adopting Goals, Objectives, and Performance Measures and Standards

Ms. Carvalho explained that this resolution satisfies new legislative requirements that the District adopt goals and objectives that will be assessed before the end of December 2025.

Ms. Buchanan noted that adjustments can be made to tailor the goals and objectives annually per the needs of the District.

ON MOTION by Ms. Hosseini, seconded by Ms. White, with all in favor, the Board approved Resolution 2024-07, Adopting Goals, Objectives, and Performance Measures and Standards.

SECOND ORDER OF BUSINESS

The Board reviewed the minutes.

General Business Matters

Consideration of the Minutes of the April 9, 2024, Board of Supervisors' Meeting

ON MOTION by Ms. Hosseini, seconded by Mr. Southwick, with all in favor, the Board approved the Minutes of the April 9, 2024, Board of Supervisors' Meeting.

Public Hearing on the Adoption of the District's Annual Budget
Public	Comments	and Testimony

Board Comments
Consideration of Resolution 2024-08, Adopting the Fiscal Year 2025 Budget and Appropriating Funds

ON MOTION by Ms. Hosseini, seconded by Ms. White, with all in favor, the Board opened the Public Hearing on the Adoption of the District's Annual Budget.

Ms. Carvalho stated that there were no members of the public present.

Ms. White requested that Ms. Glasgow and Ms. Proctor adjust the number of neighborhood units to represent the 131 neighborhood units that will be added with Phase 12A. She stated that the assessment would remain the same for these units and the additional money budgeted should be added to Lake Bank Landscape Maintenance and Neighborhood Repair and Maintenance Contingency. The line item for Repairs and Maintenance Contingency was increased to $20,000.00 The line item for Lake Bank Landscape Maintenance was increased to $100,087.37. 131 Units will be added to Direct Bill for Phase 12A. The overall neighborhood budget was increased to
$315,165.37.

ON MOTION by Ms. Hosseini, seconded by Ms. Babazadeh, with all in favor, the Board approved Resolution 2024-08, Adopting the Fiscal Year 2025 Budget and Appropriating Funds, as amended.

ON MOTION by Ms. Hosseini, seconded by Ms. White, with all in favor, the Board closed the Public Hearing on the Adoption of the District's Annual Budget.

Consideration of Resolution 2024-09, Levying O&M Assessments and Certifying an Assessment Roll

Ms. Carvalho explained that this resolution represents the assessments that were approved in the budget, and that the amendments did apply.

ON MOTION by Ms. Hosseini, seconded by Mr. Southwick, with all in favor, the Board approved Resolution 2024-09, Levying O&M Assessments and Certifying an Assessment Roll, as amended.

Consideration of Resolution 2024-10, Adopting the Annual Meeting Schedule for Fiscal Year 2024-2025

Ms. Carvalho explained that this meeting schedule maintained the same timing as the previous fiscal year.

There was discussion surrounding the ideal time for the meeting, with the decision resulting at 4:00 p.m.

ON MOTION by Ms. Hosseini, seconded by Ms. White, with all in favor, the Board approved Resolution 2024-10, Adopting the Annual Meeting Schedule for Fiscal Year 2024-2025 as revised.

Letter	from	the	Supervisor	of Elections — Flagler County

Ms. Carvalho stated that as of April 15, 2024, there were 1,475 registered voters in the District.

ON MOTION by Ms. Hosseini, seconded by Ms. White, with all in favor, the Board accepted the Letter from the Supervisor of Elections of Flagler County.

Consideration of Resolution 2024-11, Declaring Vacancies on the Board for Seat 1 and Seat 2

Ms. Carvalho explained that because nobody qualified for the Board seats, Mr. Southwick in Seat 1 and Ms. Hosseini in Seat 2 will remain in place.

ON MOTION by Ms. Hosseini, seconded by Ms. Babazadeh, with all in favor, the Board approved Resolution 2024-11, Declaring Vacancies on the Board for Seat 1 and Seat 2.

Review and Acceptance of FY 2023 Audit Report

Ms. Carvalho stated that this was a clean audit and that this report has been circulated for review.

ON MOTION by Ms. Hosseini, seconded by Mr. Southwick, with all in favor, the Board accepted the Fiscal Year 2023 Audit Report.

Ratification	of	Payment
Authorizations 216 — 229

Ms. Carvalho stated that these were part of the O & M budget.

ON MOTION by Ms. Hosseini, seconded by Ms. Babazadeh, with all in favor, the Board ratified Payment Authorization Nos. 216 —229.

Review of District Financials

Ms. Carvalho stated that the District Financials are through June 30, 2024. No action was required by the Board.

THIRD ORDER OF BUSINESS 

Staff Reports

District Counsel —	No report.

District Engineer —	Not present

Other Business

District Manager — Ms. Carvalho explained that the document included in the agenda designates the District Secretary (herself) as the Custodian of Public Records and Records Management Liaison.

FOURTH ORDER OF BUSINESS 	Audience Comments and Supervisors
Requests

Ms. White presented the MBS Capital Market Investment Banker Agreement, explaining that it was for a bond issuance for the future improvements in the new Phase 2A that will be closing in Quarter 1 of 2025

ON MOTION by Ms. Hosseini, seconded by Ms. Babazadeh, with all in favor, the Board approved the MBS Capital Market Investment Banker Agreement.

Chairperson	ice Chairperson

FIFTH ORDER OF BUSINESS	Adjournment

There was no further business to discuss at this time. Ms. Carvalho requested a motion to adjourn.

ON MOTION by Ms. White, seconded by Ms. Hosseini, with all in favor, the Board adjourned the August 6, 2024, Board of Supervisors' Meeting at approximately 1:34 p.m.

Secretary/Assistant Secretary