Landings
Community Development District

Adopted Budget
FY2026

Table of Contents

1

2-4

5-6

7-8

9

	General Fund

	General Fund Narrative

	Assessment Area 1 - Special Assessment Bond Series 2024

	Assessment Area 2 - Special Assessment Bond Series 2025

	Assessment Summary Chart

Landings
Community Development District Adopted Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next		Projected Thru	Adopted Budget	
Description	FY2025	7/31/25	2 Months		9/30/25	FY2026	

Revenues							
Developer Contributions	$	144,268	$	74,284	$	36,307	$	110,591	$	-	
Assessments Direct - Administrative	$	-	$	-	$	-	$	-	$	75,320	
Assessments Tax Collector - North Tract	$	-	$	-	$	-	$	-	$	51,439	
Assessments Direct - North Tract	$	-	$	-	$	-	$	-	$	93,578	
Total Revenues	$	144,268	$	74,284	$	36,307	$	110,591	$	220,338	

Expenditures							
General & Administrative							
Supervisor Fees	$	12,000	$	400	$	800	$	1,200	$	12,000	
FICA Expenses	$	918	$	31	$	90	$	121	$	918	
Engineering	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Attorney	$	25,000	$	1,058	$	12,500	$	13,558	$	25,000	
Annual Audit	$	4,000	$	4,600	$	-	$	4,600	$	6,000	
Assessment Administration	$	5,250	$	5,250	$	-	$	5,250	$	5,408	
Arbitrage	$	900	$	-	$	-	$	-	$	900	
Dissemination	$	6,000	$	4,167	$	833	$	5,000	$	6,180	
Trustee Fees	$	8,040	$	-	$	-	$	-	$	8,040	
Management Fees	$	42,500	$	35,417	$	7,083	$	42,500	$	43,775	
Information Technology	$	1,890	$	1,575	$	315	$	1,890	$	1,947	
Website Maintenance	$	1,260	$	1,050	$	210	$	1,260	$	1,298	
Telephone	$	300	$	-	$	150	$	150	$	300	
Postage & Delivery	$	1,000	$	379	$	250	$	629	$	1,000	
Insurance	$	5,750	$	5,408	$	-	$	5,408	$	6,613	
Copies	$	500	$	596	$	250	$	846	$	500	
Legal Advertising	$	10,000	$	115	$	5,000	$	5,115	$	10,000	
Contingency	$	2,500	$	753	$	1,000	$	1,753	$	2,500	
Office Supplies	$	625	$	56	$	325	$	381	$	625	
Travel Per Diem	$	660	$	-	$	-	$	-	$	660	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative	$	144,268	$	61,030	$	36,307	$	97,337	$	148,838	
Operations & Maintenance							
Field Expenditures							
Field Management	$	-	$	-	$	-	$	-	$	7,500	
Landscape Maintenance	$	-	$	-	$	-	$	-	$	50,000	
Irrigation Repairs	$	-	$	-	$	-	$	-	$	-	
Lake Maintenance	$	-	$	-	$	-	$	-	$	10,000	
Electric	$	-	$	-	$	-	$	-	$	-	
Water - Irrigation Usage	$	-	$	-	$	-	$	-	$	-	
Repairs & Maintenance	$	-	$	-	$	-	$	-	$	-	
Contingency	$	-	$	-	$	-	$	-	$	4,000	

Total Operations & Maintenance

-	$	71,500

-	$

-	$

-	$

$

Excess Revenues/(Expenditures)	$	-	$	13,254	$	-	$	13,254	$	0

Total Expenditures	$ 144,268	$	61,030	$  36,307	$	97,337	$ 220,338

Type	
Units	
ERU	
Total ERUs	
Net Annual	
Assessments	
Net Per Unit	
Gross Per Unit	
Villa 40' NT - Tax Collector	32	0.80	25.60	$	9,158	$	286.17	$	304.44	
Single Family 50' NT - Tax Collector	69	1.00	69.00	$	24,682	$	357.71	$	380.55	
Single Family 60' NT - Tax Collector	41	1.20	49.20	$	17,600	$	429.26	$	456.66	
Villa 40' NT - Direct	72	0.80	57.60	$	20,604	$	286.17	$	304.44	
Single Family 50' NT - Direct	66	1.00	66.00	$	23,609	$	357.71	$	380.55	
Single Family 60' NT - Direct	115	1.20	138.00	$	49,365	$	429.26	$	456.66	
Unplatted	416	0.51	210.56	$	75,320	$	181.06	$	192.61	
Total	811		615.96	$	220,338			

Landings
Community Development District
General Fund Budget

Revenues:

Developer Contributions

The District will enter into a funding agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.

Assessments Direct - Administrative

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for the administrative operating expenditures during the fiscal year. The Direct Assessment will be billed based on the below allocations:

JTL Grand Landings Development LLC – 48.7%	
	
KL Seminole Trace, LLC – 34.66%	
	
Bryndog PCP, LLC – 16.64%	

Assessments Direct – North Tract

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for the operations and maintenance expenditures related to the North Tract during the fiscal year.

Expenditures:

General & Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed
$4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

Engineering

The District's engineer will be providing general engineering services to the District, e.g., attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel, Chiumento Law, PLLC, provides general legal services to the District, e.g., attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

Landings
Community Development District
General Fund Budget

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on an anticipated bond issuance.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon an anticipated bond issuance.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

Represents various cost of information technology for the District such as video conferencing, cloud storage and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc. Governmental Management Services-Central Florida, LLC, provides these services.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc. Governmental Management Services-Central Florida, LLC, provides these services.

Telephone

Represents cost for telephone and fax machine.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Landings
Community Development District
General Fund Budget

Insurance

The District’s general liability and public official’s liability insurance coverages.

Copies

Printing agenda packages for board meetings, printing of computerized checks, stationary, envelopes, etc.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Travel Per Diem

The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for
$175. This is the only expense under this category for the District.

Operations & Maintenance:

Field Expenses

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Landings
Community Development District
General Fund Budget

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers and irrigation wells.

Lake Maintenance

Represents the estimated maintenance of the lake within the common areas of the District.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water – Irrigation Usage

Represents current and estimated costs for water provided for common areas throughout the District.

Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Landings
Community Development District
Adopted Budget
Debt Service Fund Budget - Special Assessment Bonds, Series 2024 North Tract

Adopted Budget	Actuals Thru

Description

FY2025

Projected Next	Projected Thru
7/31/25		2 Months		9/30/25

Adopted Budget
FY 2026

REVENUES:

Special Assessments	$	-	$	-	$	-	$	-	$	490,975	
Interest Earnings	$	-	$	32,657	$	10,000	$	42,657	$	15,000	
Carry Forward Surplus	$	531,850	$	536,972	$	-	$	536,972	$	245,166	
TOTAL REVENUES	$	531,850	$	569,629	$	10,000	$	579,629	$	751,141	

EXPENDITURES:						
Interfund Transfer Out	$	-	$	18,004	$	-	$	18,004	$	5,000	
Interest - 11/1	$	137,075	$	137,075	$	-	$	137,075	$	197,388	
Interest - 5/1	$	197,388	$	197,388	$	-	$	197,388	$	197,388	
Principal - 5/1	$	-	$	-	$	-	$	-	$	95,000	
TOTAL EXPENDITURES	$	334,463	$	352,467	$	-	$	334,463	$	489,775	
						
EXCESS REVENUES (EXPENDITURES)	$	197,387	$	217,162	$	10,000	$	245,166	$	261,366	
				
Interest Due 11/1/26	
$195,013	

Product	

Assessable Units	Maximum Annual Debt Service	

Net Per Unit	

Gross Per Unit	
	Villa 40'	104	$	97,753	$	939.93	$	999.93	
	Single Family - 50'	135	$	158,614	$	1,174.92	$	1,249.91	
	Single Family - 60'	156	$	234,608	$	1,503.90	$	1,599.89	
Total	395	$	490,975	

Landings
Community Development District
AMORTIZATION SCHEDULE

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/24	
7,020,000	
5.000%		
137,075	
137,074.65	
05/01/25	7,020,000	5.000%	-	197,388		
11/01/25	7,020,000	5.000%		197,388	394,775.00	
05/01/26	7,020,000	5.000%	95,000	197,388		
11/01/26	6,925,000	5.000%		195,013	487,400.00	
05/01/27	6,925,000	5.000%	100,000	195,013		
11/01/27	6,825,000	5.000%		192,513	487,525.00	
05/01/28	6,825,000	5.000%	105,000	192,513		
11/01/28	6,720,000	5.000%		189,888	487,400.00	
05/01/29	6,720,000	5.000%	110,000	189,888		
11/01/29	6,610,000	5.000%		187,138	487,025.00	
05/01/30	6,610,000	5.000%	115,000	187,138		
11/01/30	6,495,000	5.000%		184,263	486,400.00	
05/01/31	6,495,000	5.000%	125,000	184,263		
11/01/31	6,370,000	5.000%		181,138	490,400.00	
05/01/32	6,370,000	5.500%	130,000	181,138		
11/01/32	6,240,000	5.500%		177,563	488,700.00	
05/01/33	6,240,000	5.500%	135,000	177,563		
11/01/33	6,105,000	5.500%		173,850	486,412.50	
05/01/34	6,105,000	5.500%	145,000	173,850		
11/01/34	5,960,000	5.500%		169,863	488,712.50	
05/01/35	5,960,000	5.500%	155,000	169,863		
11/01/35	5,805,000	5.500%		165,600	490,462.50	
05/01/36	5,805,000	5.500%	160,000	165,600		
11/01/36	5,645,000	5.500%		161,200	486,800.00	
05/01/37	5,645,000	5.500%	170,000	161,200		
11/01/37	5,475,000	5.500%		156,525	487,725.00	
05/01/38	5,475,000	5.500%	180,000	156,525		
11/01/38	5,295,000	5.500%		151,575	488,100.00	
05/01/39	5,295,000	5.500%	190,000	151,575		
11/01/39	5,105,000	5.500%		146,350	487,925.00	
05/01/40	5,105,000	5.500%	200,000	146,350		
11/01/40	4,905,000	5.500%		140,850	487,200.00	
05/01/41	4,905,000	5.500%	215,000	140,850		
11/01/41	4,690,000	5.500%		134,938	490,787.50	
05/01/42	4,690,000	5.500%	225,000	134,938		
11/01/42	4,465,000	5.500%		128,750	488,687.50	
05/01/43	4,465,000	5.500%	240,000	128,750		
11/01/43	4,225,000	5.500%		122,150	490,900.00	

05/01/44	4,225,000	5.500%	250,000	122,150		
11/01/44	3,975,000	5.500%		115,275		487,425.00	
05/01/45	3,975,000	5.800%	265,000	115,275			
11/01/45	3,710,000	5.800%		107,590		487,865.00	
05/01/46	3,710,000	5.800%	280,000	107,590			
11/01/46	3,430,000	5.800%		99,470		487,060.00	
05/01/47	3,430,000	5.800%	300,000	99,470			
11/01/47	3,130,000	5.800%		90,770		490,240.00	
05/01/48	3,130,000	5.800%	315,000	90,770			
11/01/48	2,815,000	5.800%		81,635		487,405.00	
05/01/49	2,815,000	5.800%	335,000	81,635			
11/01/49	2,480,000	5.800%		71,920		488,555.00	
05/01/50	2,480,000	5.800%	355,000	71,920			
11/01/50	2,125,000	5.800%		61,625		488,545.00	
05/01/51	2,125,000	5.800%	375,000	61,625			
11/01/51	1,750,000	5.800%		50,750		487,375.00	
05/01/52	1,750,000	5.800%	400,000	50,750			
11/01/52	1,350,000	5.800%		39,150		489,900.00	
05/01/53	1,350,000	5.800%	425,000	39,150			
11/01/53	925,000	5.800%		26,825		490,975.00	
05/01/54	925,000	5.800%	450,000	26,825			
11/01/54	475,000	5.800%		13,775		490,600.00	
05/01/55	475,000	5.800%	475,000	13,775			
						488,775.00	
Total			$ 7,020,000	$ 8,165,132	$	15,185,132	

Landings
Community Development District
Adopted Budget
Debt Service Fund Budget - Special Assessment Bonds, Series 2025 SW Tract

Proposed Budget  Actuals Thru

Description

FY2025

Projected Next	Projected Thru
7/31/25		2 Months		9/30/25

Adopted Budget
FY 2026

REVENUES:

Special Assessments	$	-	$	-	$	-	$	-	$	432,600	
Interest Earnings	$	-	$	322	$	650	$	972	$	15,000	
Carry Forward Surplus	$	-	$	-	$	-	$	-	$	972	
TOTAL REVENUES	$	-	$	322	$	650	$	972	$	448,572	

EXPENDITURES:						
Interfund Transfer Out	$	-	$	252	$	-	$	252	$	5,000	
Interest - 11/1	$	-	$	-	$	-	$	-	$	197,388	
Interest - 5/1	$	-	$	-	$	-	$	-	$	197,388	
Principal - 5/1	$	-	$	-	$	-	$	-	$	95,000	
TOTAL EXPENDITURES	$	-	$	252	$	-	$	-	$	489,775	
						
EXCESS REVENUES (EXPENDITURES)	$	-	$	70	$	650	$	972	$	(41,203)	

Interest Due 11/1/26	$195,013

Product	

Assessable Units	Maximum Annual Debt Service	

Net Per Unit	

Gross Per Unit	
Single Family - 50'	170	$	255,000  $	1,500.00	$	1,595.74	
Single Family - 60'	111	$	177,600  $	1,600.00	$	1,702.13	
Total	281	$	432,600			

Landings
Community Development District
AMORTIZATION SCHEDULE

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
					
-	
			-			
11/01/25	6,085,000	5.000%		120,826	120,825.52	
05/01/26	6,085,000	5.000%	85,000	173,989		
11/01/26	6,000,000	5.000%		171,949	430,937.50	
05/01/27	6,000,000	5.000%	90,000	171,949		
11/01/27	5,910,000	5.000%		169,789	431,737.50	
05/01/28	5,910,000	5.000%	95,000	169,789		
11/01/28	5,815,000	5.000%		167,509	432,297.50	
05/01/29	5,815,000	5.000%	95,000	167,509		
11/01/29	5,720,000	5.000%		165,229	427,737.50	
05/01/30	5,720,000	5.000%	100,000	165,229		
11/01/30	5,620,000	5.000%		162,829	428,057.50	
05/01/31	5,620,000	5.000%	105,000	162,829		
11/01/31	5,515,000	5.000%		160,309	428,137.50	
05/01/32	5,515,000	5.500%	110,000	160,309		
11/01/32	5,405,000	5.500%		157,669	427,977.50	
05/01/33	5,405,000	5.500%	120,000	157,669		
11/01/33	5,285,000	5.500%		154,789	432,457.50	
05/01/34	5,285,000	5.500%	125,000	154,789		
11/01/34	5,160,000	5.500%		151,789	431,577.50	
05/01/35	5,160,000	5.500%	130,000	151,789		
11/01/35	5,030,000	5.500%		148,669	430,457.50	
05/01/36	5,030,000	5.500%	135,000	148,669		
11/01/36	4,895,000	5.500%		144,788	428,456.25	
05/01/37	4,895,000	5.500%	145,000	144,788		
11/01/37	4,750,000	5.500%		140,619	430,406.25	
05/01/38	4,750,000	5.500%	155,000	140,619		
11/01/38	4,595,000	5.500%		136,163	431,781.25	
05/01/39	4,595,000	5.500%	160,000	136,163		
11/01/39	4,435,000	5.500%		131,563	427,725.00	
05/01/40	4,435,000	5.500%	170,000	131,563		
11/01/40	4,265,000	5.500%		126,675	428,237.50	
05/01/41	4,265,000	5.500%	180,000	126,675		
11/01/41	4,085,000	5.500%		121,500	428,175.00	
05/01/42	4,085,000	5.500%	190,000	121,500		
11/01/42	3,895,000	5.500%		116,038	427,537.50	
05/01/43	3,895,000	5.500%	205,000	116,038		
11/01/43	3,690,000	5.500%		110,144	431,181.25	

05/01/44	3,690,000	5.500%	215,000	110,144		
11/01/44	3,475,000	5.500%		103,963		429,106.25	
05/01/45	3,475,000	5.800%	230,000	103,963			
11/01/45	3,245,000	5.800%		97,350		431,312.50	
05/01/46	3,245,000	5.800%	245,000	97,350			
11/01/46	3,000,000	5.800%		90,000		432,350.00	
05/01/47	3,000,000	5.800%	260,000	90,000			
11/01/47	2,740,000	5.800%		82,200		432,200.00	
05/01/48	2,740,000	5.800%	275,000	82,200			
11/01/48	2,465,000	5.800%		73,950		431,150.00	
05/01/49	2,465,000	5.800%	290,000	73,950			
11/01/49	2,175,000	5.800%		65,250		429,200.00	
05/01/50	2,175,000	5.800%	310,000	65,250			
11/01/50	1,865,000	5.800%		55,950		431,200.00	
05/01/51	1,865,000	5.800%	330,000	55,950			
11/01/51	1,535,000	5.800%		46,050		432,000.00	
05/01/52	1,535,000	5.800%	350,000	46,050			
11/01/52	1,185,000	5.800%		35,550		431,600.00	
05/01/53	1,185,000	5.800%	370,000	35,550			
11/01/53	815,000	5.800%		24,450		430,000.00	
05/01/54	815,000	5.800%	395,000	24,450			
11/01/54	420,000	5.800%		12,600		432,050.00	
05/01/55	420,000	5.800%	420,000	12,600			
						432,600.00	
Total			$ 6,085,000	$ 6,945,469	$	13,030,469	

Landings
Community Development District
Adopted Budget Assessment Summary Chart

Type	Units	General
O&M Gross Per
Unit	Debt Service Series 2024
Gross Per Unit	Debt Service Series 2025
Gross Per Unit	Total

Per Unit	
Villa 40'	104	$	304.44 $	999.93$	-$	1,304.37	
Single Family 50'	135	$	380.55 $	1,249.91$	-$	1,630.46	
Single Family 60'	156	$	456.66 $	1,599.89$	-$	2,056.55	
Single Family 50'	170	$	- $	-$	1,595.74 $	-	
Single Family 60'	111	$	- $	-$	1,702.13 $	-	
Unplatted	135	$	192.61 $	-$	-$	192.61	
Total	811