CUTLER CAY COMMUNITY DEVELOPMENT
DISTRICT

MIAMI-DADE COUNTY SPECIAL BOARD MEETING APRIL 10, 2023
4:00 P.M.

Special District Services, Inc. 8785 SW 165th Avenue, Suite 200
Miami, FL 33193

www.cutlercaycdd.org 786.347.2711 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

Call to Order

AGENDA
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT
Cutler Cay Community Clubhouse 7755 SW 192nd Street Cutler Bay, FL 33157
SPECIAL BOARD MEETING
April 10, 2023
4:00 p.m.

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
March 13, 2023 Regular Board Meeting Minutes	Page 2
New Business
Consider Approval of Proposal for Phase 2, Storm Drainage Pipe Replacements & Repairs Project
now to include Restoration of Sidewalk Detectable Warning Matts…	Page 11
Consider Approval of Proposal for Street Hump Replacement with Markings
and Pavement Repairs…	Page 12
Setting of Workshop with the HOA Board & Confirming a Date & Time
Consider Approval of Resolution No. 2023-02 – Approving a Proposed Budget for
FY 2023/2024…	Page 29
Old Business
Update from District Engineer on SAE Street Signage and Asphalt Repairs Project
3. Update from District Engineer on AV Electric Removal of Abandoned Street Lighting System
5. Update from District Engineer on Lake Bank Restoration Project Priority 1, Phase 1
Administrative Matters
Financial Update.	Page 54
Board Member and/or Staff Comments/Requests
Adjourn

Location
Miami-Dade County, Florida
Notice Text	
	CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT
REVISED FISCAL YEAR 2022/2023 REGULAR MEETING SCHEDULE
NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Cutler Cay Community Development District will hold Regular Meetings in the Cutler Cay Community Clubhouse located at 7755 SW 192nd Street, Cutler Bay, Florida 33157, at 4:00 p.m. for the following dates:
April 10, 2023
May 15, 2023
June 12, 2023
August 14, 2023
September 11, 2023
The purpose of these meetings is to conduct any business coming before the Board. Meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Copies of the Agenda for any of the meetings may be obtained from the District's website or by contacting the District Manager at 786-347-2711 Ext. 2011 and/or toll free at 1-877-737-4922.
From time to time one or two Supervisors may participate by telephone; therefore a speaker telephone will be present at the meeting location so that the Supervisors may be fully informed of the discussions taking place. Said meeting(s) may be continued as found necessary to a time and place specified on the record.
If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to insure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.
In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at any of these meetings should contact the District Manager at 786-347-2711 Ext. 2011 and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.
Meetings may be cancelled from time to time without advertised notice. CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT	
	www.cutlercaycdd.org		
	3/31 23-47/0000654245M	

CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT
Cutler Cay Community Clubhouse 7755 SW 192nd Street Cutler Bay, FL 33157
REGULAR BOARD MEETING
March 13, 2023
4:00 p.m.

Call to Order

Mrs. Perez called to order the March 13, 2022, Regular Board Meeting of the Cutler Cay Community Development District (the “District”) at 4:05 p.m. in the Cutler Cay Community Clubhouse located at 7755 SW 192nd Street, Cutler Bay, Florida 33157.

Proof of Publication

Proof of publication was presented that notice of the Regular Board Meeting had been published in the Miami Daily Business Review on November 2, 2022, as part of the District’s Fiscal Year 2022/2023 Meeting Schedule, as legally required.

Establish Quorum

It was determined that the attendance of the following Supervisors constituted a quorum and it was in order to proceed with the meeting: Chairman Christopher Musser and Supervisors Aileen Milian and Leo Corradini.

Staff in attendance included: District Manager Gloria Perez of Special District Services, Inc.; District Counsel Ginger Wald of Billing, Cochran, Lyles, Mauro & Ramsey, P.A.; and District Engineer Angel Camacho of Alvarez Engineers, Inc.

Also present were several members of the public.

Additions or Deletions to Agenda

Supervisor Omar Fonte joined the meeting via phone at approximately 4:06pm

Mrs. Perez advised the Board that she would be adding line item “15. HOA Request for Consideration of the Installation of a Pedestrian Walkway at South Gate” under New Business as this inquiry from the HOA was submitted after the Agenda and Book had been posted.

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

A MOTION was made by Supervisor Milian, seconded by Supervisor Corradini and passed unanimously approving the minutes of the December 7, 2022, Special Board Meeting, as presented.

New Business
Consider Approval of District Counsel Request for Adjustment to Fee Structure

Per District Counsel the letter was presented in the meeting book for the Boards review and consideration. The proposed rate increase will take effect as of May 1, 2023. Ms. Wald provided an overview of the increase request.

A MOTION was made by Supervisor Milian, seconded by Supervisor Musser and unanimously passed approving District Counsel’s request for an adjustment to the fee structure, as presented.

Consider Approval of District Engineer Request for Adjustment to Fee Structure The Board went over the information presented:

A MOTION was made by Supervisor Fonte, seconded by Supervisor Musser and unanimously passed approving the District Engineer’s request for an adjustment to the fee structure, as presented.

Ratify and Approve CO#1 for Fountain Installation

A MOTION was made by Supervisor Corradini, seconded by Supervisor Musser and unanimously passed ratifying and approving the First Choice Electric, CO #1, Proposal 2023-009, dated 01/11/02023, in the amount of $960, to install new Buck and Boost Step-up transformer to modify the existing voltage as specified and presented.

Ratify and Approve CO#2 for Fountain Installation

A MOTION was made by Supervisor Corradini, seconded by Supervisor Musser and unanimously passed ratifying and approving the First Choice Electric, CO #2, Proposal 2023-011, dated 01/19/02023, in the amount of $1,290, for repairs and replacement of 2” PVC pipe as required by code as specified and presented.

A MOTION was made by Supervisor Milian, seconded by Supervisor Musser and passed unanimously approving the proposal from Raptor Vac Systems, thereby correcting the number of structures consisting of 172 and not the noted 176 on the proposal, in the amount not to exceed $17,200.00. Simultaneously authorizing District Counsel to prepare an agreement and authorizing District management to execute on behalf of the District Board.

Consider Approval of Storm Drainage Cleaning Proposals The Board went over the information presented:

Ratify and Approve Turf Management Proposal

The District Engineer met with contractors and requested several proposals for the sod replacement and repairs as indicated by him for damages that resulted during the FPL lighting project.

The original quote was requested from Brightview the onsite HOA landscape service provider and was quite high at $80,988.18, after which the District and FPL decided to go out for pricing resulting in the following amounts with Trimscape at $46,800 and Turf being the lowest provided cost at $42,800.
The following is the agreed negotiated rate.

From: Angel Camacho <Angel.Camacho@AlvarezEng.com>
Sent: Tuesday, February 21, 2023 11:15 AM
To: Gloria Perez <gperez@sdsinc.org>; Chris Musser <chris_musser@yahoo.com>
Subject: Re: Cutler cay light pole project Good afternoon Gloria,
Attached please find the proposal from Turf Management for the CDD's review and approval. Turf Management's original proposal was $42,800, in which FPL has agreed and paid 60%. The CDD's portion (40%) seems fair and, if possible, should be approved soon so the contractor can start the complete sod restoration. Please let me know if you have any questions.

Regards,
Angel Camacho

A discussion ensued and clarification was given that the sod replacement/restoration was not part of the agreement. The District Engineer came to an agreement on behalf of the District and oversaw the completion of the project.

A MOTION was made by Supervisor Fonte, seconded by Supervisor Musser and passed ratifying and approving the Turf Management Proposal dated 02/03/2023, in the amount of $17,120.00, for sod replacement as specified and presented, this MOTION carried 3 to 1, with Supervisor Corradini dissenting.

Consider Approval of HOA Request for Security Closures

Mrs. Perez presented the HOA request for security closures to the Board thereby providing the request communication.

Ms. Gavilan, the HOA manager who was in attendance for this portion of the meeting and let the Board know that the Rover was being stationed at the South gate overnight.

Supervisor Fonte noted that the security issue is an HOA issue and not the roll of the District.

Ms. Wald stated that entry cannot be denied and that atleast one way in and a way out of the District needs to be available at all hours as the public must be granted access. Mrs. Perez noted that per the District Engineer this location serves as an emergency vehicle access point.

District Management was directed to schedule a Workshop with the HOA to address Security Issues at a future date of convenience to both parties.

Consider Approval of HOA Signage Request

Mrs. Perez presented the HOA email request for installation of signage at the District owned and maintained columns along Old Cutler Road.

A discussion ensued amongst the Board, and they did not agree with the request, no direction or action was taken.

Discussion Regarding the Funding for the Shoreline Restoration Project

Mr. Jon Kessler of FMS Bonds provided the following updated information and Mrs. Perez circulated the information shown below via handout. The presented is an estimated loan amount proposed for
$1,750,00.00, yielding approximately 1.5 after costs.

Supervisor Fonte, whom had been participating in this meeting via phone, arrived in person.

Additionally, Mrs. Perez provided two (2) Draft Budget Scenarios for the Board review and for discussion purposes.

Scenario #1, Provided the availability of collecting the project funds in a two (2) year period with a substantial increase. Scenario #2, Provided an option for the project cost to be spread-out over a ten (10) year period, with an increase providing for a lower rate and lastly the option to acquire a loan and conduct the project all at one time was also for consideration a proposed assessment amount of an estimated $278.00, per unit.

A lengthy discussion ensued. The Board was divided on how to approach the project. Supervisors Milian was undecided, Supervisors Corradini and Musser were in favor of the loan to spread the debt over several years and conduct the project all at one time. Mrs. Perez provided an explanation of the Sealed Bid collection process should this option be considered.

Supervisors Fonte and Fishbein prefer to conduct the project in Phases and allow the current work to be completed prior to deciding how to proceed.

Consider Approval of Speed Humps Project Proposals

Presented in the meeting books were all the requested proposals for the Boards review.

A discussion ensued and the District Engineer was directed to update the detail for full replacement instead of modification with rolled edges and further directing District management to gather proposals for the same.

Discussion Regarding FY 2023/2024 Budget

For discussion purposes Mrs. Perez handed out sample budgets noting the number of projects the District is anticipating. This was discussed in more detail previously during this meeting.

Consider Approval of Resolution No. 2023-01 – Revised FY 22/23 Meeting Schedule

Mrs. Perez advised the Board that she was recommending that the Board add meeting dates for April and June to the regular meeting schedule. Thereby presenting the Resolution and reading the title for the record;

RESOLUTION NO. 2023-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2022/2023 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE.

Noting that the Board of Supervisors of the Cutler Cay Community Development District will hold Regular Meetings in the Cutler Cay Community Clubhouse located at 7755 SW 192nd Street, Cutler Bay, Florida 33157, at 4:00 p.m. for the following dates:
April 10, 2023
May 15, 2023
June 12, 2023
August 14, 2023
September 11, 2023

A MOTION was made by Supervisor Milian, seconded by Supervisor Fonte and passed unanimously approving Resolution No. 2023-01, Revising the FY 22/23 Meeting Schedule as amended, thereby adding language to the Resolution including the two additional dates consisting of April 10th, 2023 and June 12th, 2023 to the meeting schedule.

Consider Approval of Landscape Lighting Repairs

Mrs. Perez advised the Board that Mr. Camacho whom was overseeing said repairs advised District Management of the Landscape lighting repairs having been conducted without the Districts direction or

authorization. Worldwide Distributors Inc. d/b/a Elighting, Invoice 11066, dated 02/20/23, in the amount of
$1,696.00.

From: Angel Camacho <Angel.Camacho@AlvarezEng.com>
Sent: Thursday, March 2, 2023 4:52 PM To: Gloria Perez <gperez@sdsinc.org> Cc: Ronald Galvis <rGalvis@sdsinc.org>
Subject: FW: Invoice 11066 from Worldwide Distributors Inc. dba Elighting Good afternoon Gloria,
I wanted to give you an update on the entrance median landscape lighting. I reached out to Worldwide Distributors Inc., who previously installed the system, and they stated they would send someone out to verify the damages, but instead they went and repaired it, see invoice attached. They mentioned control panels were left opened causing damages, low voltage lighting cables cut, and landscape lights damaged. Ariel mentioned most of the damages, apart from the cut cables, seemed to come from the Landscapers. Please advise how we should proceed with this invoice, as a request was made to Worldwide Distributors to simply assess the damages and not repair.

Regards,

Angel Camacho
8935 NW 35 Lane, Suite 101
Doral, FL 33172
Office: (305) 640-1345
Mobile: (786) 617-6426
Angel.Camacho@AlvarezEng.com www.alvarezeng.com

The Board discussed this matter and did not agree with paying for work that was not authorized. District management will advise the Contractor of the same.

Dib Residence Response Letter & Communications Regarding Overgrown Vegetation at 18798 SW 79th Ave

Mrs. Perez noted the letter from The Tome Law Firm on behalf of the Junco-Dib Residence and Mr. Tome approached the Board stating the vegetation is not on his client’s property.

Ms. Wald noted that the following:
There is no District Maintenance Easement. Noting that the District does not have access area of concern.
The provided survey is not clear and does not specify where the property line ends or how far the property line is from the wall.
Noting that in reviewing the Covenants the landscaping within the residential properties is the responsibility of each of the homeowners and the same is enforceable by the Association
Mentioned that the District did request access to the area and was never granted access.
Clarification was provided that the District is a governmental authority.

A discussion ensued between District Counsel, the Board and Mr. Tome. No further actions to be taken.

HOA Request for Consideration of the Installation of a Pedestrian Walkway at South Gate
Mrs. Perez presented the Board with the HOA inquiry/request regarding the possibility of installing a pedestrian walkway at the South Gate.
From: Laura Gavilan <lgavilan@kwpmc.com>
Sent: Monday, March 6, 2023 4:38 PM

To: Gloria Perez <gperez@sdsinc.org>; Ronald Galvis <rGalvis@sdsinc.org>
Subject: Pedestrian Walk Way at South Gate

Good afternoon Gloria;
I had another questions for the CDD, I wanted to ask if there was a possibility of adding a pedestrian walkway to the South Gate.

Laura Gavilan
Property Manager

Cutler Cay Homeowners Association 7755 SW 192 Street, Miami, FL 33157
Tel: 786-667-8724
Fax: 786-667-8728
Email: lgavilan@kwpmc.com
Community Website: https://web.kw-ic.com/cutlercay/

A discussion ensued. Supervisor Musser added that this had previously been looked into and it was determined not to be a feasible option for consideration due to the limitations in space. No further actions to be taken.

Old Business

Update from District Engineer on SAE Street Signage and Asphalt Repairs Project

Mr. Camacho provided an update on the SAE Street Signage and Asphalt Repairs Project noting that the only thing pending are inlet grates.

Update from District Engineer on FP&L Street Lighting Project & Pending Smart Nodes Installation

Mr. Camacho provided an update on the FP&L Street Lighting Project & Pending Smart Nodes Installation. He advised the Board that Smart Nodes are delayed due to a shortage in the manufacturing of chips. FP&L has provided the contact information for the person in charge of scheduling this work.

Update from District Engineer on AV Electric Removal of Abandoned Street Lighting System

Mr. Camacho provided an update on the AV Electric Removal of Abandoned Street Lighting System and mentioned that they are scheduled to conduct a walkthrough tomorrow morning.

Update from District Engineer on Phase II Storm Drainage Pipe Replacements & Repairs Project

Mr. Camacho provided an update on the Phase II Storm Drainage Pipe Replacements & Repairs Project and let the Board know that he is actively gathering proposals for this project.

Update from District Engineer on Lake Bank Restoration Project

Mr. Camacho provided an update on the Lake Bank Erosion Restoration Project, Priority 1, Phase 1, is currently in the permitting process.

Update from District Engineer on Road Marking & Restoration of Sidewalk Detectable Warning Matts

Mr. Camacho provided an update on the Road Marking & Restoration of Sidewalk Detectable Warning Matts project. Advising the Board that he is still gathering proposals.

Administrative Matters

Financial Update

Mrs. Perez presented the financial statement through February 2023. Noting that the available funds as of February 28, 2023, were $1,023,546.62.

A MOTION was made by Supervisor Milian, seconded by Fonte and passed unanimously to ratify and approve the financials, as presented.

Board Member and/or Staff Comments/Requests

There were no closing statements or requests.

Adjourn

There being no further business to come before the Board, a MOTION was made by Supervisor Musser, seconded by Supervisor Fonte and passed unanimously adjourning the meeting at 6:42 p.m.

ATTESTED BY:

Secretary/Assistant Secretary	Chairman/Vice Chair

CONSIDER APPROVAL OF PROPOSAL FOR PHASE 2, STORM DRAINAGE PIPE REPLACEMENTS & REPAIRS PROJECT NOW TO INCLUDE RESTORATION OF SIDEWALK DETECTABLE WARNING MATTS

TO BE DISTRIBUTED UNDER SEPARATE COVER

Cutler Cay CDD - Replace Speed Humps & Pavement Repairs	
Amaran Group	Arrow Asphalt	Vita Contractors	

Replace 6 speed humps.

Pavement repairs in 3 areas

Locations/Specifications provided by Alvarez Engineering - attached.	
Total Cost:
$17,900.00	Total Cost:
$22,516.00	Total Cost:
$17,790.00	
$12,900.00 Deposit	50% Deposit	No Deposit	

 LOCATION: 01
 7522 SW 187  ST
SHEET#2	N
 LOCATION: 11
7416 SW 188  LN	SW187ST  ti
 SHEET# 12_	0  150	600
ti	!
co	Feet
t-
 LOCATION: 2	!
 7526 SW 188   LN
 SHEET# 3_
SW 188 ST

SW 188 ST	SW 188 TR
 	 	
!,._sw 190 ST
 LOCATION:	07 	II)
 19269 SW 80 CT 
 SHEET# 8_	tW191 ST

-  LOCATION: 03 
 7956 SW 195   ST
 SHEET# 4
.. ,,_..,	-	 LOCAT ION: 10
.,,,.,	SW 193 ST	... sw193ST	 7582 SW 191  ST
IL	 SHEET #	11
.I	I-	Ill
IL	u
 LOCATION: 06 	"t-'	"t-'	"t-'
 7995 SW 195   ST 	3:	3:	3:
VI	II)	II)
 SHEET#  7_	SW 194 ST	-	LOCATION: 09
,._ 194 TR	 7764 SW 193   ST
LOCATION: 08	J	.I  SW 195 ST
CJ
SHEET #	JO
]9528 SW 79  PL	Jq,v	ti	IL
SHE ET #  9 ----....-"'°'
--.	3:	3:
_/4 .	SW 195 TR	VI	Ill SW 195 TR
LOCATION: 05	-	LOCATION: 04
 7979 SW  195  TER	7967 SW 195 TER
 SHEET #	6	196 ST	SHEET #	5	
 Alvarez Engineers, 	nc.	CUTLER CAY COD SPEED HUMPS MODIFICATION	LOCATION	ge 14	SHEET NO
1	
8935 N.W. 35s1 Lane, Suite 101
Miami, Florida 33172
Tel. (305) 640-1345 Fax (305) 640-1346				
			DATE:
10/10/2022	

rGalvis
2023-02-16 10:35:48
--------------------------------------------
Please do not include Location # 2 (Sheet # 3) for Proposal (already done). RG

rGalvis
2023-03-23 12:46:30
--------------------------------------------
Location (Sheet) Removed from Project. 

rGalvis
2023-03-23 12:47:14
--------------------------------------------
Please do not include Location # 07 (Sheet # 8) for Proposal (already done). RG Location (Sheet) Removed from Project.

ccastaneira	12/6/2022	3:28:41 PM	Default	P:\031 JOI - Cutler Cay COO\Speed Humps\CAD\PLAYROOI.dgn

THERMOPLASTIC

Provide 1' separation
from edge of pavement on each side of speed hump

Mono-Directional
Yellow RPM's 3 on each side

CL Roadway

12" YELLOW
THERMOPLASTIC

Page 15

-RE-CONSTRUCT PAVEMENT

NOTE:
- SAWCUT 6" AROUND THE POT HOLE LEAVING STRAIGHT JOINT LINES. CLEAN THE HOLE REMOVING ANY LOOSE AGGREGATE.
RE-INSTALL ASPHALT PAVEMENT IN MULTIPLE LIFTS, LEAVING THE SURFACE OF THE NEW ASPHALT SHOULD BE FLUSH WITH THE SURROUNDING PAVEMENT SURFACE.	
Alvarez Engineers,	nc.	CUTLER CAY COD SPEED HUMPS MODIFICATION	LOCAT ON· 9
7764 SW 19:Page 16	SHEET NO
10	

8935 N.W. 35s1 Lane, Suite 101
Miami, Florida 33172
Tel. (305) 640-1345 Fax (305) 640-1346				
			DATE:
10/10/2022	

ccastaneira	12/6/2022	3:29:26 PM	Default	P:\031101 - Cutler Cay COO\Speed Humps\CAD\7764 SW 193 SLdgn

\_	 RE-CONSTRUCT  PAVEMENT 

NOTE:
SAWCUT 6" AROUND THE POT HOLE LEAVING STRAIGHT JOINT LINES.
CLEAN THE HOLE REMOVING ANY LOOSE AGGREGATE.
RE-INSTALL ASPHALT PAVEMENT IN MULTIPLE LIFTS, LEAVING THE SURFACE OF THE NEW ASPHALT SHOULD BE FLUSH WITH THE SURROUNDING PAVEMENT SURFACE.	
Alvarez Engineers,	nc.	CUTLER CAY COD SPEED HUMPS MODIFICATION	LOCAT ON· 10
7582 SW 191Page 17	SHEET NO
11	

8935 N.W. 35s1 Lane, Suite 101
Miami, Florida 33172
Tel. (305) 640-1345 Fax (305) 640-1346				
			DATE:
10/10/2022	

ccastaneira	12/6/2022	3:29:29 PM	Default	P:\031101 - Cutler Cay COO\Speed Humps\CAD\7582 SW 191 SLdgn

 RE-CONSTRUCT  PAVEMENT 

NOTE:
SAWCUT 6" AROUND THE POT HOLE LEAVING STRAIGHT JOINT LINES.
CLEAN THE HOLE RE/VIOVING ANY LOOSE AGGREGATE.
RE-INSTALL ASPHALT PAVE/VIENT IN /VIULTIPLE LIFTS, LEAVING THE SURFACE OF THE NEW ASPHALT SHOULD BE FLUSH WITH THE SURROUNDING PAVE/VIENT SURFACE.	
Alvarez Engineers,	nc.	CUTLER CAY COD SPEED HUMPS MODIFICATION	LOCAT ON· 11
7416 SW 18a>age 18	SHEET NO
12	

8935 N.W. 35s1 Lane, Suite 101
Miami, Florida 33172
Tel. (305) 640-1345 Fax (305) 640-1346				
			DATE:
10/10/2022	

ccastaneira	12/6/2022	3:29:31 PM	Default	P:\031101 - Cutler Cay COO\Speed Humps\CAD\7416 SW 188 LN,dgn

ESTIMATE

This ESTIMATE is made as of March 31, 2023 between Amaran Group, LLC and Cutler Cay HOA. Client: Cutler Cay CDD
Physical address:7755 SW 192ND ST,CUTLER BAY FL 33157

Contractor agrees to furnish all material, labor, tools, equipment, supervision, and administration necessary to fully perform and complete the following scope of work in its entirety. Contractor agrees to perform all work in a professional, workmanlike manner according to required building codes and standard practices.

SCOPE OF WORK

ASPHALT REPAIRS (3)

Saw cut damage asphalt areas where asphalt is missing, this excludes the unleveled holes in the asphalt.
Removed all existing roots in the asphalt for a better asphalt patchwork.
Remove and dispose all damage asphalts.
Clean prior saw cut asphalt areas using power air blowers and manual push brooms.
Apply a bonding agent to each pothole to create a good bond for new asphalt.
Repair and fill holes or potholes on the asphalt with hot mix asphalt.

Asphalt repair will be based in Engineers report previously send by email

1

ASPHALT SPEED BUMPER (6)

-Mark asphalt areas where speed bumper will be placed.
-Saw cut asphalt and excavated.
-Removed all garbage and disposal all asphalt.
-Lay new asphalt on the area and compact.
-All speed bumper will be performance as per engineer report specification.

TOTAL PRICE	$17,900.00

Schedule Payment

$12,900.00	At job commencement.

$5,000.00	At job completion.

NOTES:
-This price does not include any permit fees, running fee, plans or any additional work required by the city.
-Asphalt Repairs will not eliminate any existing water accumulation or change any existing slope.
-Any changes or variations to existing proposed scope of work required by the city may require a change order.
-The pavers around the areas to performed asphalt repairs maybe damaged, in case any damage occur in any of these areas, we are responsible to repair the areas but the pavers must be provided by the owners.

2

IV. CONTRACTOR EXCLUSIONS

Contractor is not responsible for any utilities cables or lines, pipes, irrigation that are not properly located or properly marked before the commencement of the services.

Contractor is not responsible for damages caused by automobile power steering fluids, tire marks, peeling of asphalt, grass grown in asphalt, oil or gasoline leakage or detergent placed upon the asphalt.

Contractor is not responsible for the actions of constituents or visitors trespassing through the barricades, damage to cars parked in the “work area,” or any damage that the paint or tracking sealer may cause to trespassers or cars parked in the designated “work area.”

Contractor is not responsible for any loss, damage, or injury to persons or property caused by acts of government civil or military authorities, theft, vandalism, labor disputes, explosions, power failure, water damage, storms, lightning, natural or public catastrophe, acts of God or by any other cause, which is unavoidable or beyond our reasonable control and, in any event, we shall not be liable for incidental or consequential damages.

Asphalt sealer is designed to protect and beautify the pavement, however it will not eliminate the appearance of cracks in the pavement surface.

Asphalt overlay does not warranty the elimination of water accumulation.

Asphalt repairs do not guarantee any eliminate any slopes in the area the work was performed and does not warrant any existing water accumulation.

Work will be performed during regular business hours excluding Holidays and weekends Monday thru Friday 8:00AM to 4:30PM. Saturdays or Sundays is needed coordination and approval from board of directors and contractor is needed.

3

CUSTOMER:		

Authorized Signature	Print Name

Authorized Signature	Print Name

CONTRACTOR:	AMARAN GROUP LLC

By: 				 Authorized Signature			Print Name

4

PROPOSAL	CTL# 13429
Arrow Asphalt & Engineering, Inc.
3050 N.W. 129th Street, Opa Locka, FL 33054
(305) 688-8686 Voice	(305) 688-8484 Fax
PROPOSAL SUBMITTED TO:	Date: Tuesday, March 28th, 2023

Client Information	Job Site Information
Ronald Galvin	Cutler Cay CDD
Cutler Cay CDD	Speed Hump Modification
2501 A Burns Rd	7755 SW 192nd Street
Palm Beach Gardens, FL 33410	Cutler Bay, FL 33157 (786) 503-1633 Email: rGalvis@sdsinc.org

We hereby submit specifications and estimates to perform work at the above job site:
Sawcut and remove 12" of asphalt of each speed hump. Load and dispose of debris. Per Alvarez Engineering, Inc. Report dated 12-6-2022
@$1,850.00 each x 6 locations	$11,100.00
Furnish and install RPM's in front of speed humps (36)	$550.00
Furnish and install latex chevrons on new speed bumps (6)	$2,100.00
Furnish and install Thermoplastic chevrons 14 days after installation of speed hump (6).   $5,400.00
Sawcut and remove damaged asphalt in 3 areas marked on paper. Load and dispose of debris. Add limerock, grade and compact as necessary. Apply RC 70 tack coat. Pave damaged areas with 2" thick type S-3 hot plant mix asphalt. Compact new asphalt with 5 ton roller.
Approx. up to 350 SF.	$2,500.00
4% Fuel Charge	$866.00
Total:	$22,516.00

[Add cost of permit to total if required, any additional work will be an extra]

We hereby propose to furnish labor and materials to complete in accordance with the above specifications, for the sum of: Twenty Two Thousand Five Hundred Sixteen Dollars and 00/100 ($22,516.00 ) with 50% deposit, and remaining balance payment due upon completion of job.

ACCEPTANCE OF PROPOSAL
The above prices, specifications and conditions are hereby accepted. We have reviewed the important Disclosures and have provided any special billing instructions on the reverse side. You are authorized to do the work as specified.
Payment will be made as outlined above.

ACCEPTED:	AUTHORIZED SIGNATURE:

Signature:			
Arrow Asphalt & Engineering, Inc
Date:	

IMPORTANT DISCLOSURES
AND DESIGNATION OF SPECIAL BILLING INSTRUCTIONS
Disclosures:
Bid does not include fees for permits, bonds, engineering stakes layouts, as-builds or densities. A fee of $500.00 will be added if Arrow Asphalt & Engineering Inc. is to apply and be responsible for procurement of permit. No import or export, excess fill or deterious materials included unless noted (cap-rock, muck, grass, trees, ect.) Not responsible for errors and/ or omissions by engineer or surveyor. BID PRICE VALID FOR THIRTY (30) DAYS.
A 50% deposit is required upon signed contract to schedule work proposed, balance will be due upon job completion. DEPOSIT IS NON-RE FUNDABLE
All material guaranteed to be specified, and the above work to be preformed in accordance with the drawings and specifications submitted for above work and completed in a substantial workmanlike manner.
We guarantee our work not to flake, crack or unravel for a period of one year. We are not responsible for the wearing off of the material from the top of the asphalt aggregate due to traffic wear.

Any alteration or deviation from the above specifications involving extra costs will be executed only upon written change order, and will become and extra charge over and above the contract. Bid is based on today's market price for materials. Any increase in material price at start of job will be extra cost. All agreements contingent upon strikes, accidents or delays beyond our control.

Prices given without plans and specs are subject to price change when plans are available. Final payment will be based on actual quantities installed which will be verified by field measurements.

Arrow Asphalt and Engineering is not responsible for delays created by other trades, material suppliers, labor strikes or acts of God.

Arrow Asphalt and Engineering is not responsible for damage to underground sprinkler's or utilities, sod , landscaping, dust removal, painting or stucco, during the normal course of construction.

Claims for property damage must be made in writing 24 hours after the completion of the work. Job related complaints must be made within 48 hours of completion.

Tree hedges and grass to be trimmed prior to the commencement of work.

Seal Coating and striping to be completed in one mobilization. Additional mobilization are additional costs to the contract. Additional mobilizations are $1,500.00 per mobilization.

Arrow Asphalt and Engineering is not responsible for the following but not limited to the tracking of the sealer on pavers, driveways, sidewalks or any other areas besides roadway. Sealed areas will be blocked off until dry.

A 1.5% finance charge per month shall be added to any invoice 30 days past due.

This proposal is based on work being completed during the hours of 8am- 5pm, Monday - Friday excluding Holidays and Weekends. No warranties are honored unless payment is made in full. Arrow Asphalt & Engineering will provide a one (1) year warranty on material and workmanship. Normal wear and tear is not covered under this warranty.

Due to the instability in today's market, Arrow Asphalt & Engineering, Inc. cannot guarantee unit prices for any materials, All increases in material costs will be added to cost of contract.

Asphalt unit price predicated on asphalt costing $110.00 per ton, asphalt will be requoted at time of installation and client to be responsible for difference in cost plus 15% DRE mark-up for overhead and profit, change order to be executed prior to installation of asphalt.

Paving Commercial/ Owner Responsibility & Conditions

Barricaded Parking Lot: It is vital that all vehicles are removed from our area of work no later than 7:15am unless otherwise agreed. As you can imagine, our project costs are based on the property having all cars, people and objects off the area of work. Tow Trucks need to be arranged 5 days prior to the start of any work and be on call to remove cars from the scheduled work area. If any cars are left in the area of work, we cannot be held responsible for any damage to the vehicles. There will be additional costs if we are unable to access the work area billed at a minimum of $2,500.00

Site service: The management company / property owner is responsible to notify all landscapers and garbage companies to not show up in the area of work the day we are performing work. In the event of a reschedule due to unforseen conditions, you are required to let all service providers know about the change.

Rain: If it is raining the day of scheduled service, assume we will not be coming and we will contact you to reschedule as soon as possible. If it rains after our installation, please contact our representative. We monitor the weather closely and can generally predict this very well. In the event that an unexpected storm happens, we will touch up any areas any areas where sealer has not bonded.

Sprinklers: Should be off 24 hours prior and 48 hours after service. Avoid lawn cutting during this same period of time. The surface must be dry for our arrival. Areas where the newly sealed pavement is wet may wear prematurely.

Drainage:  Arrow Asphalt and Engineering cannot guarantee 100% drainage in areas where the design grade is less than 1% fall.

Asphalt Over-Runs: Will be billed to owner at $150.00 per ton.
Pricing does not include asphalt leveling unless stated otherwise in the original scope of work. Owners agrees to leveling at $185.00 per ton.

Reflective Cracking: Arrow Asphalt and Engineering will not accept responsibility for reflective cracking of new asphalt overlay due to the cracked conditions of the existing asphalt pavement.

Driving on surface: Once you start driving on paved/ sealed surface, avoid turning your wheels unless your car is moving. We understand this may be difficult to do, but understand that when wheels are turned on freshly paved/ sealed asphalt surface, scuffing and turn marks will be evident, no worries in time they will blend with surrounding surface.

Other Terms and Conditions:

90% of contract amount and change orders must be paid prior to completing punch list items and/ or any changes for additional work required by cities or municipalities.

Towing fees, if necessary, billed as actual. Any vehicles left in the construction area at the commencement of the work will be relocated on site and billed to the Owner/Authorized Agent

Change orders, additions or extras requested by Owner, Contractor or Municipality will be invoiced as an addition to the contact and shall not delay payment of the original contract sum. All Change Orders must be approved and signed by management/ Board President/ Building Owner (whichever applies.)

Arrow Asphalt and Engineering will not be responsible for paint adhesion to car stops that have not been pressure cleaned.

Cannot guarantee sealcoat longevity where there is standing water. Cracks in pavement will still be noticeable after sealcoating. Tire turning marks will be visible at first but will disappear over time.

Additional mobilization to be billed at $1,500.00 each for sealcoating. This charge may be billed due to, but not limited to: site unavailability for commencement of work due to vehicles encroaching on the work area, change of schedule by Other/ Authorized Agent without prior consent of contractor or repairs to work caused by tresspassing.

Additional mobilizations to be billed at $3,500.00 each for Concrete Services. This charge may be billed due to, but not limited to site unavailability for commencement of work due to vehicles encroaching on the work area, change of schedule by Owner/ Authorized agent without prior consent of contractor or repairs to work caused by tresspassing.

Additional mobilizaions to be billed at $2,500.00 for paving. This charge may be billed due to, but not limited to: site unavailability for commencement of the work to due to vehicles encroaching on the work area, change of schedule by Owner/ Authorized agent without prior consent of contractor or repairs to work caused by tresspassing. Arrow Asphalt and Engineering will provide a schedule to be approved by Owner prior to any additional mobilizations.

Saturday mobilizations will be an additional $1,500.00.

Arrow Asphalt and Engineering cannot guarantee 100% drainage in areas where the design grade is less than 1% fall.

Special Billing Instructions:

Please fill out the information below:

Specify Billing Information:

Company Name:	

Contact Person: 	

Address:		

Phone Number:

Purchase Order: 	

Provide email for eBilling:	

Please note any particular forms, documents, and/or procedures required prior to release of payment:

Cutler Cay Community 19500 SW 80th Court Cutler Bay, FL 33157

Name / Address

E-mail	Phone #	Project	
Info@VitaContractors.com	305.433.5112		
Description	Total	
This proposal is for the removal of 6 existing speed bumps and replacement by installation of new Speed Humps and asphalt repairs as described below.

SPEED HUMPS:
Saw cut and remove speed bumps at marked locations. Removal of debris from premises.
installation of (6) California asphalt speed humps using Asphalt Plant Hot Mix, Speed hump(s) to be the width of the road 6’ wide and 2-1/2 to 3" in height.
All speed humps will be made to meet the same height, width & proportion.
Price Includes painting of speed bumps placed using D.O.T. approved traffic paint in yellow with white chevron latex paint.
Installation of white thermoplastic chevron two weeks after asphalt cures.

All speed humps will be made to meet the same height, width & proportion.Speed humps removed or relocated after installed at the customers request will result in an added charge. Any damage caused to vehicles as a result of customer altering height or width of speed humps will be the sole responsibility of the customer.It will be the property owner or association's property management company responsibility for properly informing tenants and or residents of intended work areas and the removal of such vehicles in such area. Permit and procurement fees are not included, additional work required by such permit be an additional charge aside from contract price. Owner or Association management will provide 2 copies of site plans for permitting purposes. Owner is responsible for permitting.

ASPHALT REPAIRS
Saw-cut and or milling, removal and disposal of damaged asphalt (3) areas to be repaired.
Removal & disposal of all saw cut material.
Supply and compact limerock as needed.
Application of RC-70 Tack Coat to promote adhesion between prepared limerock base and preceding asphalt surface 5- Pave up to 150 ft2 of prepared area(s) using Asphalt Plant Hot Mix (S-111) at +/-1-1/2" thickness.
6- Rolling and compaction of spread asphalt using a 4-5 ton vibratory roller.	17,790.00	
Vita Contractors LLC reserves the right to withdraw from the price quoted herein after 30 days. All payments are due upon presentation of the invoice. Interest at the maximum statutory rate shall apply for sums not paid on a timely manner. In the event suit is commenced, customer shall be liable for reasonable attorney fees and cost necessary to collect outstanding debts, including but not limited to filing of any construction lien.	Total	

P. O. B O X 1 6 2 0 3 8 - M I A M I, F L 3 3 1 8 6

"Building Ideas for Life" CGC1529820 - CCC133622
Licensed & Insured

Page 1

Estimate

Date	Estimate #	
3/30/2023	7957	

Cutler Cay Community 19500 SW 80th Court Cutler Bay, FL 33157

Name / Address

E-mail	Phone #	Project	
Info@VitaContractors.com	305.433.5112		
Description	Total	
NOTE: This Proposal may be withdrawn by us if not accepted within 30 Days.		
Vita Contractors LLC reserves the right to withdraw from the price quoted herein after 30 days. All payments are due upon presentation of the invoice. Interest at the maximum statutory rate shall apply for sums not paid on a timely manner. In the event suit is commenced, customer shall be liable for reasonable attorney fees and cost necessary to collect outstanding debts, including but not limited to filing of any construction lien.	Total	$17,790.00	

P. O. B O X 1 6 2 0 3 8 - M I A M I, F L 3 3 1 8 6

"Building Ideas for Life" CGC1529820 - CCC133622
Licensed & Insured

Page 2

Estimate

Date	Estimate #	
3/30/2023	7957	

RESOLUTION NO. 2023-02

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2023/2024; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (“Board”) of the Cutler Cay Community Development District (“District”) is required by Chapter 190.008, Florida Statutes, to approve a Proposed Budget for each fiscal year; and,

WHEREAS, the Proposed Budget including the Assessments for Fiscal Year 2023/2024 has been prepared and considered by the Board.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT THAT:

Section 1.  The Proposed Budget including the Assessments for Fiscal Year 2023/2024 attached hereto as Exhibit “A” is approved and adopted.

Section 2.	A Public Hearing is hereby scheduled for May 15, 2023 at 4:00 p.m. in The Cutler Cay Community Clubhouse, 7755 SW 192nd Street, Cutler Bay, Florida 33157, for the purpose of receiving public comments on the Proposed Fiscal Year 2023/2024 Budget.

PASSED, ADOPTED and EFFECTIVE this 10th day of April, 2023.

ATTEST:	CUTLER CAY
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairman/Vice Chairman

Cutler Cay
Community Development District

Scenario #1 - Restoration Project Paid Over Two Years

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

PROPOSED BUDGET

PROPOSED MAINTENANCE BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED MAINTENANCE BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

VII	ASSESSMENT COMPARISON

PROPOSED BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024
BUDGET	
Administrative Assessments	102,056	
Maintenance Assessments	1,472,566	
Debt Assessments - 2014 Refunding	773,141	
Other Revenues	0	
Interest Income	600	
		
Total Revenues	$	2,348,363	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	6,000	
Payroll Taxes (Employer)	480	
Management	32,388	
Secretarial	4,200	
Legal	15,000	
Assessment Roll	7,500	
Audit Fees	3,500	
Arbitrage Rebate Fee	650	
Insurance	15,000	
Legal Advertisements	750	
Miscellaneous	2,750	
Postage	700	
Office Supplies	1,400	
Dues & Subscriptions	175	
Trustee Fee	4,200	
Continuing Disclosure Fee	350	
Website Management	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	97,043	
		
TOTAL MAINTENANCE EXPENDITURES	$	1,391,575	
		
TOTAL EXPENDITURES	$	1,488,618	
		
REVENUES LESS EXPENDITURES	$	859,745	
		
2014 Bond Refinancing Payments	(726,753)	
		
Balance	$	132,992	
		
County Appraiser & Tax Collector Fee	(44,331)	
Discounts For Early Payments	(88,661)	
		
Excess/ (Shortfall)	$	-	
		
Carryover from Prior Year	0	
		
Net Excess/ (Shortfall)	$	-	

PROPOSED MAINTENANCE BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

MAINTENANCE EXPENDITURES	

FISCAL YEAR 2023/2024
BUDGET	

Contingency/Reserve	
89,575	

Lakes Maintenance	
12,000	

Roads Maintenance/Reserve	
50,000	

Stormwater Drainage/Reserve	
28,000	

Stormwater Drainage System Pipe Repairs Project - Phase 2	
100,000	

Field Operations	
12,000	

Walls & Wall Fountain Maintenance	
30,000	

Sidewalk Maintenance/Repairs	
15,000	

Engineering/Inspections	
45,000	

Street Signage	
5,000	

Lake Fountain Maintenance	
15,000	

Entry Features Maintenance	
15,000	

Guardhouse Exterior Maintenance	
10,000	

Water & Sewage	
5,000	

FPL - Street Lighting Project	
0	

FPL - Electrical Utility	
35,000	

DERM Stormwater Drainage System Improvement Project	
180,000	

Retention Wall Maintenance	
45,000	

Lake Bank Erosion Restoration Project	
700,000	

TOTAL MAINTENANCE EXPENDITURES	
$	1,391,575	

DETAILED PROPOSED BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022 ACTUAL	
FISCAL YEAR 2022/2023 BUDGET	
FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	
Administrative Assessments	90,939	98,896	102,056	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	550,980	895,132	1,472,566	Expenditures/.94	
Debt Assessments - 2014 Refunding	773,142	773,141	773,141	Payment To Trustee/.94	
Other Revenues	1,200	0	0		
Interest Income	1,272	300	600	Interest Estimated At $50 Per Month	
					
Total Revenues	$	1,417,533	$	1,767,469	$	2,348,363		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	3,600	6,000	6,000	No Change From 2022/2023 Budget	
Payroll Taxes (Employer)	275	480	480	Projected At 8% Of Supervisor Fees	
Management	30,540	31,452	32,388	CPI Adjustment (Capped At 3%)	
Secretarial	4,200	4,200	4,200	No Change From 2022/2023 Budget	
Legal	13,093	15,000	15,000	No Change From 2022/2023 Budget	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,400	3,500	3,500	Accepted Amount For 2022/2023 Audit	
Arbitrage Rebate Fee	650	650	650	No Change From 2022/2023 Budget	
Insurance	10,155	15,000	15,000	Insurance Estimate - FY 22/23 Expenditure Was $11,022	
Legal Advertisements	508	750	750	No Change From 2022/2023 Budget	
Miscellaneous	2,880	1,750	2,750	$1,000 Increase From 2022/2023 Budget	
Postage	1,092	350	700	$350 Increase From 2022/2023 Budget	
Office Supplies	1,823	1,000	1,400	$400 Increase From 2022/2023 Budget	
Dues & Subscriptions	175	175	175	No Change From 2022/2023 Budget	
Trustee Fee	4,139	3,600	4,200	$600 Increase From 2022/2023 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2022/2023 Budget	
Website Management	2,000	2,000	2,000	No Change From 2022/2023 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	86,380	$	93,757	$	97,043		
					
TOTAL MAINTENANCE EXPENDITURES	$	375,136	$	845,900	$	1,391,575		
					
TOTAL EXPENDITURES	$	461,516	$	939,657	$	1,488,618		
					
REVENUES LESS EXPENDITURES	$	956,017	$	827,812	$	859,745		
					
2014 Bond Refinancing Payments	(739,735)	(726,753)	(726,753)	2024 P & I Payments	
					
Balance	$	216,282	$	101,059	$	132,992		
					
County Appraiser & Tax Collector Fee	(13,676)	(33,686)	(44,331)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(47,359)	(67,373)	(88,661)	Four Percent Of Total Assessment Roll	
					
Excess/ (Shortfall)	$	155,247	$	-	$	-		
					
Carryover from Prior Year	0	0	0	Carryover From Prior Year	
					
Net Excess/ (Shortfall)	$	155,247	$	-	$	-		

DETAILED PROPOSED MAINTENANCE BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

MAINTENANCE EXPENDITURES	

FISCAL YEAR 2021/2022 ACTUAL	

FISCAL YEAR 2022/2023 BUDGET	

FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

Contingency/Reserve	
15,349	
105,825	
89,575	
Contingency/Reserve	

Lakes Maintenance	
7,140	
10,000	
12,000	
$2,000 Increase From 2022/2023 Budget	

Roads Maintenance/Reserve	
56,908	
47,500	
50,000	
Fifteen Year Project (Eighth Year)	

Stormwater Drainage/Reserve	
14,793	
17,575	
28,000	
Stormwater Drainage/Reserve	

Stormwater Drainage System Pipe Repairs Project - Phase 2	
64,266	
100,000	
100,000	
No Change From 2022/2023 Budget	

Field Operations	
7,100	
12,000	
12,000	
$1,000 Per Month	

Walls & Wall Fountain Maintenance	
28,031	
25,000	
30,000	
$5,000 Increase From 2022/2023 Budget	

Sidewalk Maintenance/Repairs	
9,521	
15,000	
15,000	
No Change From 2022/2023 Budget	

Engineering/Inspections	
67,922	
40,000	
45,000	

Fiscal Year 22/23 Expenditure Through Jan 2023 Was $27,949	

Street Signage	
0	
5,000	
5,000	
No Change From 2022/2023 Budget	

Lake Fountain Maintenance	
300	
15,000	
15,000	
No Change From 2022/2023 Budget	

Entry Features Maintenance	
4,900	
15,000	
15,000	
No Change From 2022/2023 Budget	

Guardhouse Exterior Maintenance	
95	
10,000	
10,000	
No Change From 2022/2023 Budget	

Water & Sewage	
379	
5,000	
5,000	
No Change From 2022/2023 Budget	

FPL - Street Lighting Project	
45,460	
10,000	
0	
Line Item Eliminated	

FPL - Electrical Utility	
21,879	
48,000	
35,000	

Fiscal Year 22/23 Expenditure Through Feb 2023 Was $6,169	

DERM Stormwater Drainage System Improvement Project	
0	
65,000	
180,000	
Project Estimated At $245,000	

Retention Wall Maintenance	
0	
0	
45,000	
Fiscal Year 2023/2024 Project	

Lake Bank Erosion Restoration Project	
31,093	
300,000	
700,000	
Two Year Project	

TOTAL MAINTENANCE EXPENDITURES	
$	375,136	
$	845,900	
$	1,391,575		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022
ACTUAL	
FISCAL YEAR 2022/2023
BUDGET	
FISCAL YEAR 2023/2024
BUDGET	

COMMENTS	

Interest Income	
13	
25	
100	
Projected Interest For 2023/2024	

NAV Tax Collection	
739,734	
726,753	
726,753	
Maximum Debt Service Collection	

Total Revenues	
$	739,747	
$	726,778	
$	726,853		

EXPENDITURES					

Principal Payments	
555,000	
570,000	
580,000	
Principal Payment Due In 2024	

Interest Payments	
195,609	
155,899	
143,594	
Interest Payments Due In 2024	

Bond Redemption	
0	
879	
3,259	
Estimated Excess Debt Collections	

Total Expenditures	
$	750,609	
$	726,778	
$	726,853		

Excess/ (Shortfall)	
$	(10,862)	
$	-	
$	-		

Series 2021 Bond Refunding Information

Original Par Amount =	$8,125,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	2.14%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	March 2021			
Maturity Date =

Par Amount As Of 1/1/23 =	May 2034

$7,570,000			

Cutler Cay Community Development District Assessment Comparison

	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
	2020/2021	2021/2022	2022/2023	2023/2024	
Lot	Assessment	Assessment	Assessment	Projected Assessment	
Size	Before Discount*	Before Discount*	Before Discount*	Before Discount*	

60	
Administrative	
$	171.57	
$	173.50	
$	195.83	
$	
202.10	
	Maintenance - Operating	$	481.07	$	1,091.05	$	1,772.54	$	2,915.98	
	Debt - 2004 Bond/2014 Refunding	$	1,709.23	$	1,472.84	$	1,472.84	$	1,472.84	
	Sub-Total For Lot Size 60	$	2,361.87	$	2,737.39	$	3,441.21	$	4,590.92	
75	Administrative	$	171.57	$	173.50	$	195.83	$	202.10	
	Maintenance - Operating	$	481.07	$	1,091.05	$	1,772.54	$	2,915.98	
	Debt - 2004 Bond/2014 Refunding	$	1,775.39	$	1,532.45	$	1,532.45	$	1,532.45	
	Sub-Total For Lot Size 75	$	2,428.03	$	2,797.00	$	3,500.82	$	4,650.53	
125	Administrative	$	171.57	$	173.50	$	195.83	$	202.10	
	Maintenance - Operating	$	481.07	$	1,091.05	$	1,772.54	$	2,915.98	
	Debt - 2004 Bond/2014 Refunding	$	1,995.89	$	1,704.37	$	1,704.37	$	1,704.37	
	Sub-Total For Lot Size 125	$	2,648.53	$	2,968.92	$	3,672.74	$	4,822.45	
	
* Assessments Include the Following :						
4% Discount for Early Payments 1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:	
Sixty Foot Lots	180	
Seventy Five Foot Lots	258	
One Hundred Twenty Five Foot Lots	67	
Total Units	505	

Seventy Five Foot Lots Information		
Total Units	258	
Prepayments	1	
Billed For Debt	257	

Cutler Cay
Community Development District

Scenario #2 - Restoration Project Done In Phases

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

PROPOSED BUDGET

PROPOSED MAINTENANCE BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED MAINTENANCE BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

VII	ASSESSMENT COMPARISON

PROPOSED BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024
BUDGET	
Administrative Assessments	102,056	
Maintenance Assessments	1,118,069	
Debt Assessments - 2014 Refunding	773,141	
Other Revenues	0	
Interest Income	600	
		
Total Revenues	$	1,993,866	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	6,000	
Payroll Taxes (Employer)	480	
Management	32,388	
Secretarial	4,200	
Legal	15,000	
Assessment Roll	7,500	
Audit Fees	3,500	
Arbitrage Rebate Fee	650	
Insurance	15,000	
Legal Advertisements	750	
Miscellaneous	2,750	
Postage	700	
Office Supplies	1,400	
Dues & Subscriptions	175	
Trustee Fee	4,200	
Continuing Disclosure Fee	350	
Website Management	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	97,043	
		
TOTAL MAINTENANCE EXPENDITURES	$	1,056,575	
		
TOTAL EXPENDITURES	$	1,153,618	
		
REVENUES LESS EXPENDITURES	$	840,248	
		
2014 Bond Refinancing Payments	(726,753)	
		
Balance	$	113,495	
		
County Appraiser & Tax Collector Fee	(37,832)	
Discounts For Early Payments	(75,663)	
		
Excess/ (Shortfall)	$	-	
		
Carryover from Prior Year	0	
		
Net Excess/ (Shortfall)	$	-	

PROPOSED MAINTENANCE BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

MAINTENANCE EXPENDITURES	

FISCAL YEAR 2023/2024
BUDGET	

Contingency/Reserve	
89,575	

Lakes Maintenance	
12,000	

Roads Maintenance/Reserve	
50,000	

Stormwater Drainage/Reserve	
28,000	

Stormwater Drainage System Pipe Repairs Project - Phase 2	
100,000	

Field Operations	
12,000	

Walls & Wall Fountain Maintenance	
30,000	

Sidewalk Maintenance/Repairs	
15,000	

Engineering/Inspections	
45,000	

Street Signage	
5,000	

Lake Fountain Maintenance	
15,000	

Entry Features Maintenance	
15,000	

Guardhouse Exterior Maintenance	
10,000	

Water & Sewage	
5,000	

FPL - Street Lighting Project	
0	

FPL - Electrical Utility	
35,000	

DERM Stormwater Drainage System Improvement Project	
180,000	

Retention Wall Maintenance	
45,000	

Lake Bank Erosion Restoration Project	
365,000	

TOTAL MAINTENANCE EXPENDITURES	
$	1,056,575	

DETAILED PROPOSED BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022 ACTUAL	
FISCAL YEAR 2022/2023 BUDGET	
FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	
Administrative Assessments	90,939	98,896	102,056	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	550,980	895,132	1,118,069	Expenditures/.94	
Debt Assessments - 2014 Refunding	773,142	773,141	773,141	Payment To Trustee/.94	
Other Revenues	1,200	0	0		
Interest Income	1,272	300	600	Interest Estimated At $50 Per Month	
					
Total Revenues	$	1,417,533	$	1,767,469	$	1,993,866		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	3,600	6,000	6,000	No Change From 2022/2023 Budget	
Payroll Taxes (Employer)	275	480	480	Projected At 8% Of Supervisor Fees	
Management	30,540	31,452	32,388	CPI Adjustment (Capped At 3%)	
Secretarial	4,200	4,200	4,200	No Change From 2022/2023 Budget	
Legal	13,093	15,000	15,000	No Change From 2022/2023 Budget	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,400	3,500	3,500	Accepted Amount For 2022/2023 Audit	
Arbitrage Rebate Fee	650	650	650	No Change From 2022/2023 Budget	
Insurance	10,155	15,000	15,000	Insurance Estimate - FY 22/23 Expenditure Was $11,022	
Legal Advertisements	508	750	750	No Change From 2022/2023 Budget	
Miscellaneous	2,880	1,750	2,750	$1,000 Increase From 2022/2023 Budget	
Postage	1,092	350	700	$350 Increase From 2022/2023 Budget	
Office Supplies	1,823	1,000	1,400	$400 Increase From 2022/2023 Budget	
Dues & Subscriptions	175	175	175	No Change From 2022/2023 Budget	
Trustee Fee	4,139	3,600	4,200	$600 Increase From 2022/2023 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2022/2023 Budget	
Website Management	2,000	2,000	2,000	No Change From 2022/2023 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	86,380	$	93,757	$	97,043		
					
TOTAL MAINTENANCE EXPENDITURES	$	375,136	$	845,900	$	1,056,575		
					
TOTAL EXPENDITURES	$	461,516	$	939,657	$	1,153,618		
					
REVENUES LESS EXPENDITURES	$	956,017	$	827,812	$	840,248		
					
2014 Bond Refinancing Payments	(739,735)	(726,753)	(726,753)	2024 P & I Payments	
					
Balance	$	216,282	$	101,059	$	113,495		
					
County Appraiser & Tax Collector Fee	(13,676)	(33,686)	(37,832)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(47,359)	(67,373)	(75,663)	Four Percent Of Total Assessment Roll	
					
Excess/ (Shortfall)	$	155,247	$	-	$	-		
					
Carryover from Prior Year	0	0	0	Carryover From Prior Year	
					
Net Excess/ (Shortfall)	$	155,247	$	-	$	-		

DETAILED PROPOSED MAINTENANCE BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

MAINTENANCE EXPENDITURES	

FISCAL YEAR 2021/2022 ACTUAL	

FISCAL YEAR 2022/2023 BUDGET	

FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

Contingency/Reserve	
15,349	
105,825	
89,575	
Contingency/Reserve	

Lakes Maintenance	
7,140	
10,000	
12,000	
$2,000 Increase From 2022/2023 Budget	

Roads Maintenance/Reserve	
56,908	
47,500	
50,000	
Fifteen Year Project (Eighth Year)	

Stormwater Drainage/Reserve	
14,793	
17,575	
28,000	
Stormwater Drainage/Reserve	

Stormwater Drainage System Pipe Repairs Project - Phase 2	
64,266	
100,000	
100,000	
No Change From 2022/2023 Budget	

Field Operations	
7,100	
12,000	
12,000	
$1,000 Per Month	

Walls & Wall Fountain Maintenance	
28,031	
25,000	
30,000	
$5,000 Increase From 2022/2023 Budget	

Sidewalk Maintenance/Repairs	
9,521	
15,000	
15,000	
No Change From 2022/2023 Budget	

Engineering/Inspections	
67,922	
40,000	
45,000	

Fiscal Year 22/23 Expenditure Through Jan 2023 Was $27,949	

Street Signage	
0	
5,000	
5,000	
No Change From 2022/2023 Budget	

Lake Fountain Maintenance	
300	
15,000	
15,000	
No Change From 2022/2023 Budget	

Entry Features Maintenance	
4,900	
15,000	
15,000	
No Change From 2022/2023 Budget	

Guardhouse Exterior Maintenance	
95	
10,000	
10,000	
No Change From 2022/2023 Budget	

Water & Sewage	
379	
5,000	
5,000	
No Change From 2022/2023 Budget	

FPL - Street Lighting Project	
45,460	
10,000	
0	
Line Item Eliminated	

FPL - Electrical Utility	
21,879	
48,000	
35,000	

Fiscal Year 22/23 Expenditure Through Feb 2023 Was $6,169	

DERM Stormwater Drainage System Improvement Project	
0	
65,000	
180,000	
Project Estimated At $245,000	

Retention Wall Maintenance	
0	
0	
45,000	
Fiscal Year 2023/2024 Project	

Lake Bank Erosion Restoration Project	
31,093	
300,000	
365,000	
Project Conducted In Phases Over Several Years	

TOTAL MAINTENANCE EXPENDITURES	
$	375,136	
$	845,900	
$	1,056,575		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022
ACTUAL	
FISCAL YEAR 2022/2023
BUDGET	
FISCAL YEAR 2023/2024
BUDGET	

COMMENTS	

Interest Income	
13	
25	
100	
Projected Interest For 2023/2024	

NAV Tax Collection	
739,734	
726,753	
726,753	
Maximum Debt Service Collection	

Total Revenues	
$	739,747	
$	726,778	
$	726,853		

EXPENDITURES					

Principal Payments	
555,000	
570,000	
580,000	
Principal Payment Due In 2024	

Interest Payments	
195,609	
155,899	
143,594	
Interest Payments Due In 2024	

Bond Redemption	
0	
879	
3,259	
Estimated Excess Debt Collections	

Total Expenditures	
$	750,609	
$	726,778	
$	726,853		

Excess/ (Shortfall)	
$	(10,862)	
$	-	
$	-		

Series 2021 Bond Refunding Information

Original Par Amount =	$8,125,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	2.14%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	March 2021			
Maturity Date =

Par Amount As Of 1/1/23 =	May 2034

$7,570,000			

Cutler Cay Community Development District Assessment Comparison

	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
	2020/2021	2021/2022	2022/2023	2023/2024	
Lot	Assessment	Assessment	Assessment	Projected Assessment	
Size	Before Discount*	Before Discount*	Before Discount*	Before Discount*	

60	
Administrative	
$	171.57	
$	173.50	
$	195.83	
$	
202.10	
	Maintenance - Operating	$	481.07	$	1,091.05	$	1,772.54	$	2,214.00	
	Debt - 2004 Bond/2014 Refunding	$	1,709.23	$	1,472.84	$	1,472.84	$	1,472.84	
	Sub-Total For Lot Size 60	$	2,361.87	$	2,737.39	$	3,441.21	$	3,888.94	
75	Administrative	$	171.57	$	173.50	$	195.83	$	202.10	
	Maintenance - Operating	$	481.07	$	1,091.05	$	1,772.54	$	2,214.00	
	Debt - 2004 Bond/2014 Refunding	$	1,775.39	$	1,532.45	$	1,532.45	$	1,532.45	
	Sub-Total For Lot Size 75	$	2,428.03	$	2,797.00	$	3,500.82	$	3,948.55	
125	Administrative	$	171.57	$	173.50	$	195.83	$	202.10	
	Maintenance - Operating	$	481.07	$	1,091.05	$	1,772.54	$	2,214.00	
	Debt - 2004 Bond/2014 Refunding	$	1,995.89	$	1,704.37	$	1,704.37	$	1,704.37	
	Sub-Total For Lot Size 125	$	2,648.53	$	2,968.92	$	3,672.74	$	4,120.47	
	
* Assessments Include the Following :						
4% Discount for Early Payments 1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:	
Sixty Foot Lots	180	
Seventy Five Foot Lots	258	
One Hundred Twenty Five Foot Lots	67	
Total Units	505	

Seventy Five Foot Lots Information		
Total Units	258	
Prepayments	1	
Billed For Debt	257	

Cutler Cay
Community Development District

Scenario #3 - Loan For Restoration Project

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

PROPOSED BUDGET

PROPOSED MAINTENANCE BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED MAINTENANCE BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

VII	ASSESSMENT COMPARISON

PROPOSED BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024
BUDGET	
Administrative Assessments	102,056	
Maintenance Assessments	552,381	
Debt Assessments - 2014 Refunding	773,141	
Loan Assessments - Restoration Project	149,389	
Other Revenues	0	
Interest Income	600	
Total Revenues	$	1,577,567	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	6,000	
Payroll Taxes (Employer)	480	
Management	32,388	
Secretarial	4,200	
Legal	15,000	
Assessment Roll	7,500	
Audit Fees	3,500	
Arbitrage Rebate Fee	650	
Insurance	15,000	
Legal Advertisements	750	
Miscellaneous	2,750	
Postage	700	
Office Supplies	1,400	
Dues & Subscriptions	175	
Trustee Fee	4,200	
Continuing Disclosure Fee	350	
Website Management	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	97,043	
		
TOTAL MAINTENANCE EXPENDITURES	$	662,425	
		
TOTAL EXPENDITURES	$	759,468	
		
REVENUES LESS EXPENDITURES	$	818,099	
		
2014 Bond Refinancing Payments	(726,753)	
		
Balance	$	91,346	
		
County Appraiser & Tax Collector Fee	(30,449)	
Discounts For Early Payments	(60,897)	
		
Excess/ (Shortfall)	$	-	
		
Carryover from Prior Year	0	
		
Net Excess/ (Shortfall)	$	-	

PROPOSED MAINTENANCE BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

MAINTENANCE EXPENDITURES	

FISCAL YEAR 2023/2024
BUDGET	

Contingency/Reserve	
100,000	

Lakes Maintenance	
12,000	

Roads Maintenance/Reserve	
50,000	

Stormwater Drainage/Reserve	
28,000	

Stormwater Drainage System Pipe Repairs Project - Phase 2	
100,000	

Field Operations	
12,000	

Walls & Wall Fountain Maintenance	
30,000	

Sidewalk Maintenance/Repairs	
15,000	

Engineering/Inspections	
45,000	

Street Signage	
5,000	

Lake Fountain Maintenance	
15,000	

Entry Features Maintenance	
15,000	

Guardhouse Exterior Maintenance	
10,000	

Water & Sewage	
5,000	

FPL - Street Lighting Project	
0	

FPL - Electrical Utility	
35,000	

DERM Stormwater Drainage System Improvement Project	
0	

Retention Wall Maintenance	
45,000	

Lake Bank Erosion Restoration Project (Loan Payment)	
140,425	

TOTAL MAINTENANCE EXPENDITURES	
$	662,425	

DETAILED PROPOSED BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022 ACTUAL	
FISCAL YEAR 2022/2023 BUDGET	
FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	
Administrative Assessments	90,939	98,896	102,056	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	550,980	895,132	552,381	Expenditures/.94	
Debt Assessments - 2014 Refunding	773,142	773,141	773,141	Payment To Trustee/.94	
Loan Assessments - Restoration Project	0	0	149,389	Payment To Lender/.94	
Other Revenues	1,200	0	0		
Interest Income	1,272	300	600	Interest Estimated At $50 Per Month	
Total Revenues	$	1,417,533	$	1,767,469	$	1,577,567		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	3,600	6,000	6,000	No Change From 2022/2023 Budget	
Payroll Taxes (Employer)	275	480	480	Projected At 8% Of Supervisor Fees	
Management	30,540	31,452	32,388	CPI Adjustment (Capped At 3%)	
Secretarial	4,200	4,200	4,200	No Change From 2022/2023 Budget	
Legal	13,093	15,000	15,000	No Change From 2022/2023 Budget	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,400	3,500	3,500	Accepted Amount For 2022/2023 Audit	
Arbitrage Rebate Fee	650	650	650	No Change From 2022/2023 Budget	
Insurance	10,155	15,000	15,000	Insurance Estimate - FY 22/23 Expenditure Was $11,022	
Legal Advertisements	508	750	750	No Change From 2022/2023 Budget	
Miscellaneous	2,880	1,750	2,750	$1,000 Increase From 2022/2023 Budget	
Postage	1,092	350	700	$350 Increase From 2022/2023 Budget	
Office Supplies	1,823	1,000	1,400	$400 Increase From 2022/2023 Budget	
Dues & Subscriptions	175	175	175	No Change From 2022/2023 Budget	
Trustee Fee	4,139	3,600	4,200	$600 Increase From 2022/2023 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2022/2023 Budget	
Website Management	2,000	2,000	2,000	No Change From 2022/2023 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	86,380	$	93,757	$	97,043		
					
TOTAL MAINTENANCE EXPENDITURES	$	375,136	$	845,900	$	662,425	Includes Project Loan Payment Of $140,425	
					
TOTAL EXPENDITURES	$	461,516	$	939,657	$	759,468		
					
REVENUES LESS EXPENDITURES	$	956,017	$	827,812	$	818,099		
					
2014 Bond Refinancing Payments	(739,735)	(726,753)	(726,753)	2024 P & I Payments	
					
Balance	$	216,282	$	101,059	$	91,346		
					
County Appraiser & Tax Collector Fee	(13,676)	(33,686)	(30,449)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(47,359)	(67,373)	(60,897)	Four Percent Of Total Assessment Roll	
					
Excess/ (Shortfall)	$	155,247	$	-	$	-		
					
Carryover from Prior Year	0	0	0	Carryover From Prior Year	
					
Net Excess/ (Shortfall)	$	155,247	$	-	$	-		

DETAILED PROPOSED MAINTENANCE BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

MAINTENANCE EXPENDITURES	

FISCAL YEAR 2021/2022 ACTUAL	

FISCAL YEAR 2022/2023 BUDGET	

FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

Contingency/Reserve	
15,349	
105,825	
100,000	
Contingency/Reserve	

Lakes Maintenance	
7,140	
10,000	
12,000	
$2,000 Increase From 2022/2023 Budget	

Roads Maintenance/Reserve	
56,908	
47,500	
50,000	
Fifteen Year Project (Eighth Year)	

Stormwater Drainage/Reserve	
14,793	
17,575	
28,000	
Stormwater Drainage/Reserve	

Stormwater Drainage System Pipe Repairs Project - Phase 2	
64,266	
100,000	
100,000	
No Change From 2022/2023 Budget	

Field Operations	
7,100	
12,000	
12,000	
$1,000 Per Month	

Walls & Wall Fountain Maintenance	
28,031	
25,000	
30,000	
$5,000 Increase From 2022/2023 Budget	

Sidewalk Maintenance/Repairs	
9,521	
15,000	
15,000	
No Change From 2022/2023 Budget	

Engineering/Inspections	
67,922	
40,000	
45,000	

Fiscal Year 22/23 Expenditure Through Jan 2023 Was $27,949	

Street Signage	
0	
5,000	
5,000	
No Change From 2022/2023 Budget	

Lake Fountain Maintenance	
300	
15,000	
15,000	
No Change From 2022/2023 Budget	

Entry Features Maintenance	
4,900	
15,000	
15,000	
No Change From 2022/2023 Budget	

Guardhouse Exterior Maintenance	
95	
10,000	
10,000	
No Change From 2022/2023 Budget	

Water & Sewage	
379	
5,000	
5,000	
No Change From 2022/2023 Budget	

FPL - Street Lighting Project	
45,460	
10,000	
0	
Line Item Eliminated	

FPL - Electrical Utility	
21,879	
48,000	
35,000	

Fiscal Year 22/23 Expenditure Through Feb 2023 Was $6,169	

DERM Stormwater Drainage System Improvement Project	
0	
65,000	
0	
Included In Restoration Project	

Retention Wall Maintenance	
0	
0	
45,000	
Fiscal Year 2023/2024 Project	

Lake Bank Erosion Restoration Project (Loan Payment)	
31,093	
300,000	
140,425	
Twenty Year Loan	

TOTAL MAINTENANCE EXPENDITURES	
$	375,136	
$	845,900	
$	662,425		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022
ACTUAL	
FISCAL YEAR 2022/2023
BUDGET	
FISCAL YEAR 2023/2024
BUDGET	

COMMENTS	

Interest Income	
13	
25	
100	
Projected Interest For 2023/2024	

NAV Tax Collection	
739,734	
726,753	
726,753	
Maximum Debt Service Collection	

Total Revenues	
$	739,747	
$	726,778	
$	726,853		

EXPENDITURES					

Principal Payments	
555,000	
570,000	
580,000	
Principal Payment Due In 2024	

Interest Payments	
195,609	
155,899	
143,594	
Interest Payments Due In 2024	

Bond Redemption	
0	
879	
3,259	
Estimated Excess Debt Collections	

Total Expenditures	
$	750,609	
$	726,778	
$	726,853		

Excess/ (Shortfall)	
$	(10,862)	
$	-	
$	-		

Series 2021 Bond Refunding Information

Original Par Amount =	$8,125,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	2.14%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	March 2021			
Maturity Date =

Par Amount As Of 1/1/23 =	May 2034

$7,570,000			

Cutler Cay Community Development District Assessment Comparison

Lot Size	Fiscal Year 2020/2021
Assessment
Before Discount*	Fiscal Year 2021/2022
Assessment
Before Discount*	Fiscal Year 2022/2023
Assessment
Before Discount*	Fiscal Year 2023/2024
Projected Assessment
Before Discount*	

60	
Administrative	
$	171.57	$	173.50	$	195.83	$	
202.10	
	Maintenance - Operating	$	481.07	$	1,091.05	$	1,772.54	$	1,093.83	
	Restoration Project Loan	$	-	$	-	$	-	$	295.82	
	Debt - 2004 Bond/2014 Refunding	$	1,709.23	$	1,472.84	$	1,472.84	$	1,472.84	
	Sub-Total For Lot Size 60	$	2,361.87	$	2,737.39	$	3,441.21	$	3,064.59	
75	Administrative	$	171.57	$	173.50	$	195.83	$	202.10	
	Maintenance - Operating	$	481.07	$	1,091.05	$	1,772.54	$	1,093.83	
Restoration Project Loan	$	-	$	-	$	-	$	295.82	
	Debt - 2004 Bond/2014 Refunding	$	1,775.39	$	1,532.45	$	1,532.45	$	1,532.45	
	Sub-Total For Lot Size 75	$	2,428.03	$	2,797.00	$	3,500.82	$	3,124.20	
125	Administrative	$	171.57	$	173.50	$	195.83	$	202.10	
	Maintenance - Operating	$	481.07	$	1,091.05	$	1,772.54	$	1,093.83	
Restoration Project Loan	$	-	$	-	$	-	$	295.82	
Debt - 2004 Bond/2014 Refunding	$	1,995.89	$	1,704.37	$	1,704.37	$	1,704.37	
Sub-Total For Lot Size 125	$	2,648.53	$	2,968.92	$	3,672.74	$	3,296.12	

* Assessments Include the Following :						
4% Discount for Early Payments 1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:	
Sixty Foot Lots	180	
Seventy Five Foot Lots	258	
One Hundred Twenty Five Foot Lots	67	
Total Units	505	

Seventy Five Foot Lots Information		
Total Units	258	
Prepayments	1	
Billed For Debt	257	

Cutler Cay Community Development District

Financial Report For March 2023

CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT MONTHLY FINANCIAL REPORT
MARCH 2023

REVENUES	
Annual Budget
10/1/22 - 9/30/23	

Actual Mar-23	Year To Date Actual
10/1/22 - 3/31/23	
Administrative Assessments	98,896	1,970	89,584	
Maintenance Assessments	895,132	17,815	801,168	
Debt Assessments - 2014 Refunding	773,141	15,388	692,026	
Other Revenue	0	33	33	
Interest Income	300	0	7,326	
Total Revenues	$	1,767,469	$	35,206	$	1,590,137	
				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	6,000	1,000	2,800	
Payroll Taxes (Employer)	480	77	214	
Management	31,452	2,621	15,726	
Secretarial	4,200	350	2,100	
Legal	15,000	0	8,346	
Assessment Roll	7,500	0	0	
Audit Fees	3,500	0	0	
Arbitrage Rebate Fee	650	0	0	
Insurance	15,000	0	11,022	
Legal Advertisements	750	0	180	
Miscellaneous	1,750	272	1,119	
Postage	350	0	365	
Office Supplies	1,000	21	462	
Dues & Subscriptions	175	0	175	
Trustee Fee	3,600	4,139	4,139	
Continuing Disclosure Fee	350	0	0	
Website Management	2,000	166	1,000	
Bank Service Charges	0	0	432	
TOTAL ADMINISTRATIVE EXPENDITURES	$	93,757	$	8,646	$	48,080	
				
TOTAL MAINTENANCE EXPENDITURES (Details On Page 2)	$	845,900	$	24,301	$	135,073	
				
Total Expenditures	$	939,657	$	32,947	$	183,153	
				
Revenues Less Expenditures	$	827,812	$	2,259	$	1,406,984	
				
2014 Bond Refinancing Payments	(726,753)	(15,066)	(658,879)	
				
Balance	$	101,059	$	(12,807)	$	748,105	
				
County Appraiser & Tax Collector Fee	(33,686)	(348)	(15,212)	
Discounts For Early Payments	(67,373)	(388)	(60,553)	
				
Excess/ (Shortfall)	$	-	$	(13,543)	$	672,340	
				
Carryover From Prior Year	0	0	0	
				
Net Excess/ (Shortfall)	$	-	$	(13,543)	$	672,340	

Bank Balance As Of 3/31/23	$	1,325,747.01	
Accounts Payable As Of 3/31/23	$	56,690.27	
Accounts Receivable As Of 3/31/23	$	1,200.00	
Security Deposit As Of 3/31/23	$	100.00	
Reserve For Roads Maintenance As Of 3/31/23	$	171,000.00	
Reserve For Stormwater Drainage As Of 3/31/23	$	20,500.00	
Reserve For Pipe Repairs Project As Of 3/31/23	$	70,000.00	
Available Funds As Of 3/31/23	$	1,008,856.74	

CUTLER CAY COMMUNITY DEVELOPMENT DISTRICT MONTHLY FINANCIAL REPORT - MAINTENANCE MARCH 2023

MAINTENANCE EXPENDITURES	

Annual Budget
10/1/22 - 9/30/23	

Actual Mar-23	
Year To Date Actual
10/1/22 - 3/31/23	

Contingency/Reserve	
105,825	
0	
0	

Lakes Maintenance	
10,000	
619	
22,913	

Roads Maintenance/Reserve	
47,500	
0	
7,950	

Stormwater Drainage/Reserve	
17,575	
0	
0	

Stormwater Drainage System Pipe Repairs Project-Phase 2	
100,000	
0	
0	

Field Operations	
12,000	
1,000	
6,000	

Walls & Wall Fountain Maintenance	
25,000	
425	
9,230	

Sidewalk Maintenance/Repairs	
15,000	
0	
0	

Engineering/Inspections	
40,000	
2,758	
30,706	

Street Signage	
5,000	
990	
1,450	

Lake Fountain Maintenance	
15,000	
360	
5,155	

Entry Features Maintenance	
15,000	
0	
1,175	

Guardhouse Exterior Maintenance	
10,000	
0	
0	

Guardhouse Insurance	
0	
0	
0	

Water & Sewage	
5,000	
0	
39	

FPL - Street Lighting Project	
10,000	
17,120	
22,295	

FPL - Electrical Utility	
48,000	
1,029	
7,198	

DERM Stormwater Drainage System Improvement Project	
65,000	
0	
0	

Retention Wall Maintenance	
0	
0	
0	

Lake Bank Erosion Restoration Project	
300,000	
0	
20,467	

Miscellaneous Maintenance	
0	
0	
495	

TOTAL MAINTENANCE EXPENDITURES	
$	845,900	
$	24,301	
$	135,073	

Cutler Cay Community Development District
Budget vs. Actual
October 2022 through March 2023

Oct '22 - Mar 23	22/23 Budget	$ Over Budget	% of Budget
 			
Ordinary Income/Expense Income
363.100 ꞏ Administrative Assessments	89,584.26		98,896.00		-9,311.74		90.58%	
363.101 ꞏ Maintenance Assessments	801,168.35		895,132.00		-93,963.65		89.5%	
363.810 ꞏ Debt Assessments	692,026.10		773,141.00		-81,114.90		89.51%	
363.820 ꞏ Debt Assessment - Pd To Trustee	-658,879.00		-726,753.00		67,874.00		90.66%	
363.830 ꞏ Cty Appraiser & Tax Coll Fee	-15,212.21		-33,686.00		18,473.79		45.16%	
363.831 ꞏ Discounts For Early Payments	-60,553.27		-67,373.00		6,819.73		89.88%	
369.400 ꞏ Other Income	32.64		0.00		32.64		100.0%	
369.401 ꞏ Interest Income	7,325.63		300.00		7,025.63		2,441.88%	
Total Income	855,492.50		939,657.00		-84,164.50		91.04%	
Expense								
512.824 ꞏ Stormwater Pipe Project-Phase 2	0.00		100,000.00		-100,000.00		0.0%	
511.822 ꞏ DERM Stormwater Drainage Prjct	0.00		65,000.00		-65,000.00		0.0%	
512.823 ꞏ Lake Bank Erosion Rest Project	20,467.40		300,000.00		-279,532.60		6.82%	
511.758 ꞏ FPL - Electrical	7,198.10		48,000.00		-40,801.90		15.0%	
511.757 ꞏ FPL - Street Lighting Project	22,295.00		10,000.00		12,295.00		222.95%	
511.756 ꞏ Water & Sewage	38.51		5,000.00		-4,961.49		0.77%	
511.754 ꞏ Guardhouse Exterior Maintenance	0.00		10,000.00		-10,000.00		0.0%	
511.753 ꞏ Entry Feature Maintenance	1,175.00		15,000.00		-13,825.00		7.83%	
511.752 ꞏ Fountain Maintenance	5,155.20		15,000.00		-9,844.80		34.37%	
511.751 ꞏ Street Signage	1,450.00		5,000.00		-3,550.00		29.0%	
511.307 ꞏ Sidewalk Maint/ Repairs	0.00		15,000.00		-15,000.00		0.0%	
511.122 ꞏ Payroll tax expenses	214.20		480.00		-265.80		44.63%	
511.131 ꞏ Supervisor Fee	2,800.00		6,000.00		-3,200.00		46.67%	
511.301 ꞏ Lakes Maintenance	22,913.10		10,000.00		12,913.10		229.13%	
511.302 ꞏ Roads Maintenance/Reserve	7,950.00		47,500.00		-39,550.00		16.74%	
511.303 ꞏ Stormwater Drainage/Reserve	0.00		17,575.00		-17,575.00		0.0%	
511.304 ꞏ Field Operations	6,000.00		12,000.00		-6,000.00		50.0%	
511.305 ꞏ Contingency/Reserve	0.00		105,825.00		-105,825.00		0.0%	
511.306 ꞏ Walls-Wall Fountain Maintenance	9,229.93		25,000.00		-15,770.07		36.92%	
511.309 ꞏ Miscellaneous Maintenance	495.00		0.00		495.00		100.0%	
511.310 ꞏ Engineering/Inspections	30,706.25		40,000.00		-9,293.75		76.77%	
511.311 ꞏ Management Fees	15,726.00		31,452.00		-15,726.00		50.0%	
511.312 ꞏ Secretarial Fees	2,100.00		4,200.00		-2,100.00		50.0%	
511.315 ꞏ Legal Fees	8,345.50		15,000.00		-6,654.50		55.64%	
511.318 ꞏ Assessment/Tax Roll	0.00		7,500.00		-7,500.00		0.0%	
511.320 ꞏ Audit Fees	0.00		3,500.00		-3,500.00		0.0%	
511.330 ꞏ Arbitrage Rebate Fee	0.00		650.00		-650.00		0.0%	
511.450 ꞏ Insurance	11,022.00		15,000.00		-3,978.00		73.48%	
511.480 ꞏ Legal Advertisements	179.88		750.00		-570.12		23.98%	
511.512 ꞏ Miscellaneous	1,551.12		1,750.00		-198.88		88.64%	
511.513 ꞏ Postage and Delivery	364.81		350.00		14.81		104.23%	
511.514 ꞏ Office Supplies	461.65		1,000.00		-538.35		46.17%	
511.540 ꞏ Dues, License & Subscriptions	175.00		175.00		0.00		100.0%	
511.733 ꞏ Trustee Fees	4,138.75		3,600.00		538.75		114.97%	
511.734 ꞏ Continuing Disclosure Fee	0.00		350.00		-350.00		0.0%	
511.750 ꞏ Website Management	999.96		2,000.00		-1,000.04		50.0%	
Total Expense	183,152.36		939,657.00		-756,504.64		19.49%	
Net Ordinary Income	672,340.14		0.00		672,340.14		100.0%	
Net Income	672,340.14		0.00		672,340.14		100.0%	

CUTLER CAY CDD TAX COLLECTIONS 2022-2023

#	

ID#	

PAYMENT FROM	

DATE	

PAYMENT FROM	

Tax Collect Receipts	

Interest Received	

Commissions Paid	

Discount	

Net From Tax Collector	Admin Assessment Income (Before Discounts & Fees)	Maint Assessment Income (Before Discounts & Fees)	Debt Assessment Income (Before Discounts & Fees)	Admin Assessment Income (After Discounts & Fees)	Maint Assessment Income (After Discounts & Fees)	Debt Assessment Income (After Discounts & Fees)	

Debt Assessment Paid to Trustee	
									$	1,767,169	$	98,896	$	895,132	$	773,141	$	98,896	$	895,132	$	773,141		
									$	1,666,410	$	93,757	$	845,900	$	726,753	$	93,757	$	845,900	$	726,753	$	726,753	
1	1	Miami-Dade Tax Collector	11/25/22	NAV Taxes	$	84,170.87		$	(808.05)	$ (3,366.82)	$	79,996.00	$	4,713.52	$	42,632.55	$  36,824.80	$  4,479.65	$ 40,518.00	$  34,998.35	$ 34,998.35	
2	2	Miami-Dade Tax Collector	12/07/22	NAV Taxes	$	1,049,004.60		$  (10,070.44)	$ (41,959.97)	$  996,974.19	$  58,744.25	$  531,320.80	$ 458,939.55	$ 55,830.44	$ 504,967.45	$ 436,176.30	$ 436,176.30	
3	3	Miami-Dade Tax Collector	11/23/22	NAV Taxes	$	207,451.05		$	(1,990.63)	$ (8,387.67)	$  197,072.75	$  11,617.20	$  105,074.00	$  90,759.85	$ 11,036.00	$ 99,817.40	$  86,219.35	$ 86,219.35	
4	4	Miami-Dade Tax Collector	12/22/22	NAV Taxes	$	84,693.54		$	(817.32)	$ (2,960.21)	$	80,916.01	$	4,742.79	$	42,897.30	$  37,053.45	$  4,531.21	$ 40,983.95	$  35,400.85	$ 35,400.85	
5	5	Miami-Dade Tax Collector	01/11/23	NAV Taxes	$	103,491.91		$	(1,004.28)	$ (3,065.54)	$	99,422.09	$	5,795.51	$	52,418.65	$  45,277.75	$  5,567.54	$ 50,357.30	$  43,497.25	$ 43,497.25	
6	6	Miami-Dade Tax Collector	02/08/23	NAV Taxes	$	17,788.33		$	(173.64)	$	(424.60)	$	17,190.09	$	996.13	$	9,009.80	$	7,782.40	$	962.59	$  8,706.80	$	7,520.70	$  7,520.70	
7	Int - 1	Miami-Dade Tax Collector	02/13/23	Interest		$ 1,005.20			$	1,005.20	$	1,005.20			$  1,005.20			$	-	
8	7	Miami-Dade Tax Collector	03/08/23	NAV Taxes	$	35,173.21		$	(347.85)	$	(388.46)	$	34,436.90	$	1,969.66	$	17,815.25	$  15,388.30	$  1,928.35	$ 17,442.35	$  15,066.20	$ 15,066.20	
9									$	-							$	-	
10									$	-							$	-	
11									$	-							$	-	
12									$	-							$	-	
13									$	-							$	-	
14									$	-							$	-	
15									$	-							$	-	
16									$	-							$	-	
17									$	-								
18									$	-								
					$	1,581,773.51	$ 1,005.20	$  (15,212.21)	$ (60,553.27)	$ 1,507,013.23	$  89,584.26	$  801,168.35	$ 692,026.10	$ 85,340.98	$ 762,793.25	$ 658,879.00	$ 658,879.00	

Note: $1,767,169, $98,896, $895,132 and $773,141 are 2022/2023 Budgeted
Total Roll = $1,767,170.49	assessments before discounts and fees.
Note: $1,666,410, $93,757, $845,900 and $726,753 are 2022/2023 Budgeted assessments after discounts and fees.

$ 1,581,773.51
$	1,005.20	$ 1,507,013.23	
$  (89,584.26)	$	(85,340.98)	
$ (801,168.35)	$  (762,793.25)	
$ (692,026.10)	$  (658,879.00)	
$	-	$	-