MINUTES OF MEETING LANDINGS
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Landings Community Development District was held Thursday, June 21, 2024 at 11:30 a.m. at the Hilton Garden Inn Palm Coast, 55 Town Center Boulevard, Palm Coast, Florida.

Present and constituting a quorum were:

Jeffrey Douglas Bill Fife
Greg Eckley Toby Tobin

Also present were:

George Flint Jeremy LeBrun Vincent Sullivan KenArtin
Daniel Welch by phone Sara Zare by phone Kendall Bulliet by phone Jeff McFarland by phone Matt McA:ffee by phone

FIRST ORDER OF BUSINESS

Chairman
Vice Chairman Assistant Secretary Assistant Secretary

District Manager District Manager District Counsel Bryant Miller Olive District Engineer MBS Capital Markets MBS Capital Markets
Driver, McAfee, Hawthorn & Diebenow Driver, McAfee, Hawthorn & Diebenow

Roll Call

Mr. Flint called the meeting to order and called the roll. Four Board members were in attendance constituting a quorum.

SECOND ORDER OF BUSINESS	Public Comment Period
There were no members of the public present, just staff and Board members.

THIRD ORDER OF BUSINESS	Approval of Minutes of the April 19, 2024
Meeting
Mr. Flint presented the minutes from the April 19, 2024 Board of Supervisors meeting. He asked for any comments, questions, or corrections. The Board had no changes to the minutes.

On MOTION by Mr. Jeffrey Douglas, seconded by Mr. Eckley, with all in favor, the Minutes of the April 19, 2024 Meeting, were approved, as presented.

FOURTH ORDER OF BUSINESS	Review and Acceptance of Fiscal Year
2023 Audit Report
Mr. Flint stated they went through and RFQ process to select the independent auditor and Grau & Associates was selected. Each year the District has to have an annual independent audit. The report to management showed no current findings or recommendations. The District has applied with the provisions of the Auditor General so it is a clean audit. He asked for a motion to accept the audit and authorize it to be transmitted to the state.

On MOTION by Mr. Tobin, seconded by Mr. Eckley, with all in
 favor, the Fiscal Year 2023 Audit Re ort was acce ted.	

FIFTH ORDER OF BUSINESS	Financing Matters
Presentation of First Supplemental Engineers Report to the Capital Improvement Plan (North Tract)
Mr. Flint stated this is prepared by England-Thims & Miller. Dan Welch is on the phone. The report is dated February 1, 2024. There have been no changes on the report since the last time the Board saw it.

On MOTION by Mr. Jeffrey Douglas, seconded by Mr. Eckley, with all in favor, the First Supplemental Engineers report to the Capital Im rovement Plan  orth Tract), was a  roved.

Presentation of Final Supplemental Assessment Methodology for the North Tract
Mr. Flint noted a preliminary report was prepared that was utilized in the Preliminary Limited Offering Memorandum in marketing the bonds. Now that the bonds have been priced, we have revised the report and now it is the Final Supplemental Assessment Methodology. Table 1 shows the development plan that has not changed. Table 2 are the infrastructure cost estimates from the Engineer's Report. The $21,215,121. Table 3 is the bond sizing which now reflects the actual terms. There is an average coupon rate of 5.71%. There is a thirty-year amortization period. The interest is capitalized through November 1, 2025. There is a debt service reserve of one year max annual debt. Underwriters discount of2%. The par amount is $7,020,000 of which $5,609,000 are construction funds. Table 4 shows the allocation of benefit based on improvement cost. Table 5 shows it based on the par debt per unit. Table 6 reflects the net and gross annual debt service

assessment amounts are for the three product types. Table 7 is the Preliminary Assessment Roll. The legal description of the assessment area which is the North Tract is attached as exhibit A.

On MOTION by Mr. Eckley, seconded by Mr. Fife, with all in favor, the Final Supplemental Assessment Methodology for the North Tract, was approved.

Consideration of Resolution 2024-11 Finalizing the Series 2024 Bonds
Mr. Sullivan noted Resolution 2024-11 is the finalizing resolution of the bonds for the new North Tract, or the North Assessment Area. It is adopting and approving those Supplemental Engineer Reports that did not change and GMS's Assessment Methodology directing the Chair to go ahead and execute all documents necessary to finalize the bond closing and directing the bond team to take appropriate steps to get this funded. The closing is anticipated to occur next Wednesday.

On MOTION by Mr. Eckley, seconded by Mr. Tobin, with all in favor, Resolution 2024-11 Finalizing the Series 2024 Bonds, was approved.

SIXTH ORDER OF BUSINESS	Consideration	of	Resolution	2024-12
Approving the Assignment of Construction Agreement and Acquisition of Partially Completed Improvements - Under Separate Cover
Mr. Flint noted it is contemplated that the existing construction contracts are going to be assigned to the District and the District would acquire the partially completed improvements up to the point the contracts are signed and then going forward the District would pay the pay applications directly. Mr. Sullivan noted they are still working with the landowner on getting together all the contracts that they will be taking assignment of.
Mr. Sullivan noted the initial requisition would be payment for the partially complete improvements and the landowner would be required and the District Engineer and consulting Engineer would be required to give the District Certificates of Completion up to a certain point. The District would take ownership of all of the infrastructure or partially completed infrastructure. They are working through the particulars of how the landowner would like to structure this.

On MOTION by Mr. Fife, seconded by Mr. Tobin, with all in favor, Designating the Chair Authority to Execute Resolution 2024-12 Pending Approval of District Counsel, Consulting Engineer and District Engineer that the Documents Acquiring the Construction Contracts Meet Requirements of Florida Statutes, was approved.

SEVENTH ORDER OF BUSINESS	Consideration of Series 2024 Requisition
No. 1 - Under Separate Cover
Mr. Flint noted requisition number one doesn't require approval in advance as long as the District Engineer signs it and it is signed by an authorized representative of the District. It can be brought back to be ratified along with a final version of the Resolution at the next meeting.
EIGHTH ORDER OF BUSINESS	Consideration of Data Sharing and Usage
Agreement with the Flagler County Property Appraiser
Mr. Flint stated this agreement is required to use the tax bill as the collection method.

On MOTION by Mr. Eckley, seconded by Mr. Jeffrey Douglas, with all in favor, the Data Sharing and Usage Agreement with the Flagler Coun  Pro   A  raiser, was a  roved.

NINTH ORDER OF BUSINESS
Attorney
Mr. Sullivan had nothing further to report.

Staff Reports

Engineer
Mr. Welch had nothing to report.

District Manager's Report
Balance Sheet and Income Statement
Mr. Flint presented the unaudited financials through May 31, 2024. No action is required from the Board.
Ratification of Funding Requests #16A-C
Mr. Flint stated they have allocated the operating expenses to the three landowners so that is what the A, B & C is. Any questions on the funding requests? If not, is there a motion to ratify those?

On MOTION by Mr. Fife, seconded by Mr. Tobin, with an in favor, Funding Requests #16A-C, were aooroved.

Presentation of Number of Registered Voters-0
Mr. Flint stated the Supervisor of Elections indicates there are currently zero registered voters within the District.
Designation of November 5, 2024 as the Landowners' Meeting Date
Mr. Flint noted this has to be on the first Tuesday in November. He is asking the Board to designate it as November 5, 2024 at 11:30 a.m. at Hilton Garden Inn Palm Coast. It will just need to be the owner or a proxy holder to attend. Three seats are up, two seats are 4-year terms and one seat is a 2-year term.

On MOTION by Mr. Jeffrey Douglas, seconded by Mr. Eckley, with all in favor, Designating November 5, 2024 as Landowner's Meeting Date, was approved.

Form 1 Filing Reminder - Due July 1st
Mr. Flint reminded the Form 1 Financial Disclosure is due by July 151,filed electronically with the Commission on Ethics.

TENTH ORDER OF BUSINESS	Other Business
There being no other business, the next item followed.

ELEVENTH ORDER OF BUSINESS	Supervisors Requests
There being no comments, the next item foJlowed.

TWELFIB ORDER OF BUSINESS	Adjournment
Mr. Flint asked for a motion to adjourn the meeting.

On MOTION by Mr. Jeffrey Douglas, seconded by Mr. Fife, with all in favor, the meeting was adjourned.