MINUTES OF MEETING

Tomoka Community Development District Board of Supervisors Meeting
Friday, December 6, 2024, at 3:00 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	(via phone)

Vivian Carvalho	District Manager, PFM Group Consulting LLC
Kwame Jackson	 Asst. District Manager, PFM Group Consulting LLC  (via phone) Kevin Plenzler	PFM Financial Advisors	(via phone) Margie Hall	HOA Manager

Katie Buchanan	 District Counsel, Kutak Rock LLP Sete Zare	MBS Capital Markets
Jerry Finley	Finley Engineers

FIRST ORDER OF BUSINESS	Organizational Matters

(via phone) (via phone) (via phone)

Call to Order and Roll Call

This meeting was called to order by Ms. Carvalho at 3:00 p.m. and roll call was initiated. Those in attendance are outlined above.

Public Comment Period

There were no public comments.

Review and Acknowledgement of Resignation Letter from Amos “Gooch” Cheatham

Ms. Carvalho presented the letter of resignation.

On MOTION by Ms. White, seconded by Ms. Hosseini, with all in favor, the Board accepted the Resignation Letter from Amos “Gooch” Cheatham.

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Nomination of Replacement for Seat 3 (Term Expires: 1112026)

This item was deferred to the next meeting.

Consideration of Appointment to Seat #1 Currently held by Richard Southwick (Term Expires: 11/2028)

Ms. Carvalho explained that Seats 1 and 2 were rollover seats and that the terms would now expire in 2028.

Mr. Southwick waived compensation.

ON MOTION by Ms. White, seconded by Ms. Hosseini, with all in favor, the Board approved the Appointment to Seat # 1 Currently held by Richard Southwick (Term Expires: 11/2028).

Consideration of Appointment to Seat # 2 Currently held by Nika Hosseini (Term Expires: 11/2028)

Ms. Hosseini waived compensation.

On MOTION by Ms. White, seconded by Mr. Southwick, with all in favor, the Board approved the Appointment to Seat # 2 Currently held by Nika Hosseini (Term Expires 11/2028).

SECOND ORDER OF BUSINESS

The Board reviewed the minutes.

General Business Matters

Consideration of the Minutes of the August 6, 2024, Board of Supervisors' Meeting

ON MOTION by Ms. Hosseini, seconded by Mr. Southwick, with all in favor, the Board approved the Minutes of August 6, 2024, Board of Supervisors' Meeting.

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Consideration of Resolution 2025-01, Adopting a Revised Fiscal Year 2024 O&M Budget

Ms. Carvalho explained that a revised budget is required when there are changes to the line items as outlined in the exhibit.

Ms. White noted that the District did close the year under budget.

ON MOTION by Ms. White, seconded by Ms. Hosseini, with all in favor, the Board approved Resolution 2025-01, Adopting the Revised Fiscal Year 2024 O&M Budget.

Consideration of Resolution 2025-02, Electing Officers

Ms. Carvalho explained that the Vice Chairperson had resigned, so a new slate of officers was required.

Ms. White nominated herself as Chair and Ms. Hosseini has Vice Chairperson, with the remaining Board members as Assistant Secretaries.

ON MOTION by Ms. White, seconded by Ms. Hosseini, with all in favor, the Board approved Resolution 2025-02, Electing Officers naming Ms. Kelly White as Chairperson, Ms. Nika Hosseini as Vice Chairperson, Ms. Vivian Carvalho as Secretary, Mr. Rick Southwick, Ms. Ida Babazadeh, Mr. Kwame Jackson, and Ms. Venessa Ripoll as Assistant Secretaries.

Consideration	of	Amended	and Restated Master Engineer's Report

Ms. Buchanan provided context for this item, noting the new assessment process on the expansion parcels. She stated that they are amending the original plan to reflect the Capital Improvement Plan that will be discussed. She stated that the Capital Improvement Plan and resulting assessments only apply to the expansion parcels and will not affect existing assessments.

Mr. Finley reviewed the engineers report. 80 acres were added to the District three years ago. He stated that Phase 16 was 40 acres and would become 73 lots and that Phase 11C was 40 acres and would become 136 townhome units. He noted the total cost for the project would be
$6,539,476.00.

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ON MOTION by Ms. Hosseini, seconded by Ms. White, with all in favor, the Board approved the Engineer's Report as presented.

Consideration of Amended and Restated Master Special Assessment Methodology Report

Mr. Plenzler explained that this was an addendum to the Master Special Assessment Methodology Report with respect to the expansion parcels. He stated that they have incorporated the information from the Engineer's Report into this methodology report. He stated that the maximum Bond principal amount that could be issued for these two parcels was $8,945,000.00. He stated that they believe the assessments have been reasonably and equitably allocated.

ON MOTION by Ms. Hosseini, seconded by Mr. Southwick, with all in favor, the Board approved Amended and Restated Master Special Assessment Methodology Report.

Consideration of Resolution 2025-03, Special Assessment Resolution for Series 2025

Ms. Buchanan presented the resolution, noting that this resolution incorporated both the Amended and Restated Master Engineer's Report and the Amended and Restated Master Special Assessment Methodology Report. She requested a date for the public hearing that allows ample time for the thirty-day mailed notice.

There was discussion surrounding the date of the public hearing and the timelines.

ON MOTION by Ms. White, seconded by Mr. Southwick, with all in favor, the Board approved Resolution 2025-03, Special Assessment Resolution for Series 2025 with a public hearing on Thursday, January 16, 2025, at 3:45 p.m. at the Hampton Inn, 150 Flagler Plaza Drive, Palm Coast, Florida 32137.

Ratification of Reimbursement to Homeowner for Payment of FPL Bills for Pond Fountain

Ms. Carvalho explained that a meter for District property had become linked to a homeowner and the District reimbursed them. She noted that FPL was also reimbursing the resident. She stated

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that the resident will forward the funds from FPL back to the District when they receive it. Ms. Proctor will contact FPL for an estimated time of arrival of funds for tracking purposes.

ON MOTION by Ms. White, seconded by Ms. Hosseini, with all in favor, the Board ratified Reimbursement to Homeowner for Payment of FPL Bills for Pond Fountain.

Ratification of Grau & Associates
Engagement Letter

Ms. Carvalho presented the letter for the auditor to proceed with the Fiscal Year 2024 audit.

ON MOTION by Ms. Hosseini, seconded by Mr. Southwick, with all in favor, the Board ratified Grau & Associates Engagement Letter.

Ratification	&	Consideration	of Payment Authorizations 230 — 244

Ms. Carvalho stated that these are for the Operations & Maintenance account.

ON MOTION by Ms. Hosseini, seconded by Mr. Southwick, with all in favor, the Board ratified and approved Payment Authorizations 230 —244.

Review of District Financials

Ms. Carvalho stated that the District Financials are through September 30, 2024.

Ms. White noted some balance line items and requested Mr. Plenzler and Ms. Zare to look into combining items from the previous Bond issuance to the new Bond issuance.

No action was required by the Board.

THIRD ORDER OF BUSINESS

District Counsel —	No report.

District Engineer —	No report.

Other Business

Staff Reports

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District Manager —	Ms. Carvalho will cancel the January 14, 2025, meeting as the public meeting was scheduled for January 16, 2025.

FOURTH ORDER OF BUSINESS		Audience Comments and Supervisors Requests

Ms. Zare will circulate a timeline for the Board and set up a call.

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. Hosseini, seconded by Mr. Southwick, with all in favor, the Board adjourned the December 6, 2024, Board of Supervisors' Meeting at approximately 3:33 p.m.