AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

COLLIER COUNTY REGULAR BOARD MEETING JULY 1, 2025
4:00 P.M.
Ave Maria Master Association, 5080 Annunciation Circle, Suite 101 Ave Maria, Florida 34142
www.avemariastewardshipcd.org

District Manager
Special District Services, Inc.
The Oaks Center 2501A Burns Road
Palm Beach Gardens, FL 33410
561.630.4922 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT REGULAR BOARD MEETING
July 1, 2025
4:00 p.m.
Ave Maria Master Association 5080 Annunciation Circle, Suite 101
Ave Maria, Florida 34142
TO JOIN VIA ZOOM: https://us02web.zoom.us/j/84779450200 MEETING ID: 847 7945 0200 DIAL IN AT: 1-929-436-2866

Call to Order
Pledge of Allegiance
Invocation
Proof of Publication…	Page 1
Establish a Quorum
Additions or Deletions to Agenda
Comments from the Public
Approval of Minutes
June 3, 2025 Regular Board Meeting Minutes…	Page 2
Old Business
AMSCD Projects Update…	Page 12
Goals and Objectives Update…	Page 13
New Business
District Overview Presentation…	Page 18
Discussion Regarding Goals, Objectives, and Performance Measures and Standards
for FY 2025/2026…	Page 27
Consider Approval of Addendum to Davey Tree Existing Contract…	Page 32
Presentation of the Series 2025 Supplement to the Amended Third Sub-Master Supplemental Assessment Methodology Report for a Portion of the Maple Ridge and Cadiz at Ave Maria
Neighborhoods…	Page 41
Consider Resolution No. 2025-11 – Adopting the Supplemental Assessment Resolution for
Series 2025 Neighborhood Bonds (Maple Ridge Phase 6 Project)	Page 58
Consider Approval of the Supplemental Disclosure of Public Financing and Maintenance of
Improvements to Real Property – Series 2025 (Maple Ridge Phase 6 Project)…	Page 85
Discussion Regarding Veterans Pavilion…	Page 104
Administrative Matters
Legal Report
Engineer Report
Manager’s Report
Financials…	Page 105
Final Public Comments
Board Member Comments
Adjourn
*Public Comment will be limited to three minutes (3:00) with no rebuttal

Publication Date 2025-06-20

Subcategory Miscellaneous Notices

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT NOTICE OF REGULAR BOARD MEETING
The Board of Supervisors (the Board) of the Ave Maria Stewardship Community District (the District) will hold a Regular Board Meeting (Meeting) at 4:00 p.m. on July 1, 2025, in the Ave Maria Master Association located at 5080 Annunciation Circle, Suite 101, Ave Maria, Florida 34142. The Meeting will also be available for viewing utilizing communications media technology (Virtual Attendance) through the following login information, however public comment will only be available to those participating in person. The Zoom link below will allow for up to 1,000 individuals to view the meeting and all requests for public comment participation via Zoom must submitted by 5 p.m. June 30, 2025, in advance of the meeting to the District Manager, Allyson Holland, at aholland@ sdsinc.org with the agenda item they wish to speak on noted. Virtual Attendance is offered for convenience only and in the event there are interruptions to internet service or other technical difficulties the Meeting will continue at the physical location regardless of availability of the Virtual Attendance option.
Join by URL for VIDEO ACCESS at: https://us02web.zoom.us/j/84779450200 Meeting ID: 847 7945 0200
Join by PHONE at: 1-929-436-2866 Meeting ID: 847 7945 0200
The purpose of the Meeting is for the Board to address District related items as noted on the Agenda. At such time, the Board is so authorized and may consider any business that may properly come before it.
A copy of the agenda may be obtained at the offices of the District Manager, Special District Services, Inc., 2501A Burns Road, Palm Beach Gardens, Florida 33410 (561) 630-4922, during normal business hours, or by visiting the Districts website at www.avemariastewardshipcd.org seven (7) days prior to the meeting date.
The meeting is open to the public and will be conducted in accordance with the provisions of Florida law. The meeting may be continued to a date, time and place to be specified on the record at the meeting. There may be occasions when Board Supervisors or District Staff may participate by speaker telephone or other communications media technology.
Any person requiring special accommodations at this meeting because of a disability or physical impairment should contact the District Managers Office at least forty-eight (48) hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY)/1-800-955-8770 (Voice), for aid in contacting the District Managers office.
Each person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that person will need a record of proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based.
Meetings may be cancelled from time to time without advertised notice. AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
www.avemariastewardshipcd.org 6/20/25 11408658

Page 1

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT REGULAR BOARD MEETING
JUNE 3, 2025
6:00 p.m.
Ave Maria Master Association 5080 Annunciation Circle, Suite 101
Ave Maria, Florida 34142
TO JOIN VIA ZOOM: https://us02web.zoom.us/j/84779450200 MEETING ID: 847 7945 0200 DIAL IN AT: 1-929-436-2866

Call to Order
The June 3, 2025, Regular Board Meeting of the Ave Maria Stewardship Community District (the “District”) was called to order at 6:00 p.m. at the Ave Maria Master Association located at 5080 Annunciation Circle, Suite 101, Ave Maria, Florida 34142.

Pledge of Allegiance
Invocation
Supervisor Klucik led the meeting in prayer.
Proof of Publication
Proof of publication was presented indicating that notice of the Regular Board Meeting had been published in the Naples Daily News on May 25, 2025, as legally required.

Establish a Quorum
A quorum was established with the following:
Board of Supervisors
Seat No. 1: Supervisor	Nick Casalanguida	Present	
Seat No. 2: Supervisor	Naomi Robertson	Present	
Seat No. 3: Supervisor	Robb Klucik	Present	
Seat No. 4: Chairman	Jay Roth	Present	
Seat No. 5: Vice Chairman	Tom DiFlorio	Present	

District Staff in attendance were:

District Manager	Allyson Holland	Special District Services, Inc.	
District Manager	Andrew Karmeris	Special District Services, Inc.	
General Counsel	Alyssa Willson	Kutak Rock, LLP	
District Engineer	Ted Tryka	LJA Engineering, Inc.	
Owner Representative	David Genson (via Zoom)	Barron Collier Companies	

Also present were the following:
Todd Wodraska (via Zoom), Russ Weyer, Cynthia Wilhelm, Fire Chief Chote, Donny Diaz, Michael Campbell, Jenna Buzzaco-Foerster, Jaclyn Canerdy, County Commissioner Bill McDaniel, and approximately 10 members of the public. There were also approximately 10 people present via Zoom.

Additions or Deletions to Agenda
Ms. Holland requested the following change to the agenda:

Item J.2. to read as follows (see strike through and underline):
J.2.	Consider Approval of the following items Related to the Series 2025 Capital Improvement Revenue Bonds for Maple Ridge Phase 8 and Emerson Cadiz at Ave Maria (Maple Ridge Phase 6 Bonds):
Series 2025 Bonds Supplement to the Amended Third Sub-Master Supplemental Assessment Engineer’s Report for the Maple Ridge Phase 8 and Emerson Park (Cadiz at Ave Maria)
Series 2025 Bonds Supplement to the Amended Third Sub-Master Supplemental Assessment Methodology Report for the Maple Ridge Phase 8 and Emerson Park (Cadiz at Ave Maria)
Consider Resolution No. 2025-06 – Delegated Award Resolution
A motion was made by Mr. DiFlorio, seconded by Mr. Casalanguida and passed unanimously approving the agenda, as amended.
Comments from the Public
Mr. Kevin Schang, president of the Civic Association, informed the Board about construction traffic through the Emerson and Avalon neighborhoods. Mr. Klucik asked why construction traffic is going through neighborhoods. Mr. Genson stated that is the only route to the neighborhood under construction. Mr. Genson stated that he will see if he can come up with an alternate route and he doesn’t want construction traffic going through the neighborhoods.

Mr. John Lanham informed the Board that the proposed relocation of the Collier County Fairgrounds will impact Ave Maria Traffic. He stated that he would like the District to talk to the County about how they will mitigate the traffic. Mr. Casalanguida stated that these are public roads. Commissioner McDaniel stepped to the microphone and stated that this is not the District’s purview. He stated that he will address this issue with the Civic Association separately. Mr. Casalanguida stated that in talking with Collier County, they are programming to 4-lane Oil Well Road in 2027.

Approval of Minutes
May 6, 2025, Regular Board Meeting
The minutes of May 6, 2025, Regular Board Meeting were presented for consideration.
A motion was made by Mr. DiFlorio, seconded by Mr. Casalanguida and passed unanimously approving the minutes of the May 6, 2025, Regular Board Meeting, as presented.

Old Business
AMSCD Projects Update
Ms. Holland gave a brief update on District projects in accordance with the updated projects list. Mr. Klucik questioned Anthem Parkway Ph 5A with respect to the new elementary school. He asked if the artery roads are too small (only 2 lanes) and asked when the will be 4-laned. Ms. Holland stated that she discussed this earlier with Mr. Klucik after being approached by Collier County Public Schools (CCPS). CCPS asked Ms. Holland when the new section of Anthem Parkway would be constructed and open (from the school to Pope John Paul II Blvd) and she confirmed the road would be open before the opening of the elementary school. Mr. Klucik asked Mr. Tryka his opinion. Mr. Tryka stated that he didn’t perform a traffic analysis for the school, but he will look into this and report back. Mr. Genson stated that this is a reasonable request as the size of the school has doubled since the school was initially planned. He stated that lots of parents will be dropping off via golf carts. Ms. Holland confirmed that she will add this to the task/project list to further address this issue before the school opens. Ms. Holland also noted that the Ave Maria office was added to the list of SDS offices addresses/locations at the bottom of the homepage of the District’s website. She stated that listing all

SDS offices is standard for our Districts, and the Corporate office is the records office and there are statutory requirements that must be upheld related to the District’s records and accessibility.
Goals and Objectives Update
Ms. Holland provided an update on the current Goals and Objectives.
New Business
Lennar Bond Reallocation
Consider Approval of Amended Engineer’s Report for Series 2021 Project
Consider Approval of Amended Methodology Report for Series 2021 Project
Consider Resolution 2025-04 – Declaring Special Assessments for Amended 2021 Project
Consider Resolution 2025-05 – Set and Notice a Public Hearing to Levy Assessments for Amended 2021 Project
Ms. Holland presented this item and explained that this is the next step in the Lennar bond reallocation process. She reminded the Board that the history of this item is included in the agenda memorandum in the meeting book. At the April 1, 2025 regular Board meeting, the Board authorized District staff to prepare amendments to the Engineer’s Report and the Methodology Report for additional Board review and consideration; amended reports are included in the meeting book. The next step is declaring the intent to modify the scope of the 2021 Project and take additional actions to ensure compliance with Florida Law and the 2021 bond requirements, and setting and noticing a public hearing to adopt the amended reports. Ms. Holland reminded the Board that if the process to reallocate bonds is formally completed, this will facilitate Lennar to convert their main gate from a soft gate to a hard gate. Ms. Holland asked the Board to consider updates to the amended reports and consider Resolutions 2025- 04 and 2025-05.
Mr. Klucik asked what assets are changing. Mr. Tryka responded that the cost of the roads are being swapped for the cost of other infrastructure such as irrigation, landscaping, drainage, etc. Mr. Klucik asked why we would want to own landscaping at a private gate. Ms. Willson explained that there is an Agreement in place with The National to maintain the infrastructure. Mr. Klucik stated that the roads are worth something and he asked why we’d give them up. Mr. Tryka confirmed that the costs have been verified; the roads were previously included in those costs. Mr. Klucik stated that the Board needs a lot more detail about this item. Ms.Willson responded that this item has been brought before the Board and discussed at several meetings prior to today. She went on to explain that the District acquired infrastructure for phases 1 and 2, and that there is still infrastructure in phase 3 to be acquired. The infrastructure is not valued higher and the actual costs were verified. Mr. Roth asked if infrastructure for phases 1 and 2 were anticipated in the bond. Ms. Willson stated yes, and phases 3 and 4. Mr. Roth asked if we kept the entire project, would we need more bonds. Ms. Willson stated that no, Lennar would be responsible for those costs. Ms. Robertson added that the bond will always be the original +/-$11M throughout the build cycle of the project. She stated that she doesn’t deem this to be unreasonable. Mr. Klucik stated that we are giving up public access, something that has value. Ms. Robertson asked if it really has a value to drive down the road and Mr. Klucik stated yes. Mr. Casalanguida added that The National residents are paying for the operation and maintenance costs and the bond debt is all The National residents, not residents outside of The National. Ms. Robertson stated that there are no assets on the balance sheet; no one looks at the assets. Mr. Roth asked if this will ever come back on the District – to pave the roads in The National if needed. Ms. Willson responded that it could if the contract agreement for maintenance is ever terminated by the District. Mr. Genson added that it’s not fair to tax the District for Lennar’s infrastructure. Mr. Klucik stated that he doesn’t think anyone really understands this. Mr. Casalanguida and Ms. Robertson disagreed with Mr. Klucik and stated that they understand this. Mr. Casalanguida stated that this is essentially a ledger swap. Lennar didn’t realize this would be a problem when they began this project. Ms. Willson

added that Ms. Wilhelm (bond counsel) is on the Zoom call – she has been involved since the beginning. Discussion continued among the Board members regarding the increase in project costs, doing a ledger swap to make the roads private, etc. Ms. Willson added that this item has been brought before the board previously with numerous updates and reiterated that all of the infrastructure is maintained by The National, not the District. Mr. Weyer mentioned that he’s been preparing the methodology for Ave Maria since 2006. He explained the methodology for the 2021 project and stated that the assessments did not change with the bond reallocation; he also mentioned that the par amounts are lower. Ms. Willson stated that some parcels in The National are yet to be platted and that Lennar is paying for those. Mr. Casalanguida asked if bond holders get notified and Ms. Willson confirmed yes, they do. She added that if the Board approves this item today, there will be another Resolution brought before the Board to update all of the bond documents. Ms. Willson described the process moving forward.
A motion was made by Mr. Casalanguida, seconded by Mr. DiFlorio and passed unanimously approving the Amended Engineer’s Report for the Series 2021 Project. A motion was made by Mr. Casalanguida, seconded by Ms. Robertson and passed unanimously approving the Amended Methodology Report for the Series 2021 Project. A motion was made by Ms. Robertson, seconded by Mr. Casalanguida and passed unanimously approving Resolution 2025-04 – Declaring Special Assessments for Amended 2021 Project. Ms. Willson explained the need for Resolution 2025-05 and suggested the public hearing be on August 5, 2025 at the 6:00 p.m. Board meeting. A motion was made by Ms. Robertson, seconded by Mr. DiFlorio and passed unanimously approving Resolution 2025-05 – Set and Notice a Public Hearing to Levy Assessments for Amended 2021 Project.
Consider Approval of the following items Related to the Series 2025 Capital Improvement Revenue Bonds for Maple Ridge Phase 8 and Emerson Cadiz at Ave Maria (Maple Ridge Phase 6 Bonds):
Series 2025 Bonds Supplement to the Amended Third Sub-Master Supplemental Assessment Engineer’s Report for the Maple Ridge Phase 8 and Emerson Park (Cadiz at Ave Maria)
Series 2025 Bonds Supplement to the Amended Third Sub-Master Supplemental Assessment Methodology Report for the Maple Ridge Phase 8 and Emerson Park (Cadiz at Ave Maria)
Consider Resolution No. 2025-06 – Delegated Award Resolution
Ms. Holland noted the change in the agenda item names and presented this item. She also noted that the printed version of the meeting book does not contain all of the attachments to the Delegation Award Resolution, but all documents are contained in the meeting book on the website. A link to the meeting book on the website was sent to all supervisors for review prior to the meeting.
Ms. Holland continued by stating the Board unanimously authorized staff to proceed with the preparation of the documentation necessary for the District to issue the Series 2025 Neighborhood Bonds to fund certain neighborhood infrastructure improvements within the District including Maple Ridge Phase 8 and Cadiz at Ave Maria at the Regular Board Meeting on January 7, 2025. Items presented today are the next steps in the bond issuance process. Staff is requesting approval of the following items for the Series 2025 Neighborhood Bonds:
Series 2025 Bonds Supplement to the Amended Third Sub-Master Engineer’s Report for the Maple Ridge Phase 8 and Cadiz at Ave Maria neighborhoods contained Within the Ave Maria Stewardship Community District
Series 2025 Bonds Supplement to the Amended Third Sub-Master Supplemental Assessment Methodology Report for a Portion of the Maple Ridge and Cadiz at Ave Maria Neighborhoods Within the Ave Maria Stewardship Community District

Delegation Award Resolution approving:
15th Supplemental Trust Indenture
Preliminary Limited Offering Memorandum
Continuing Disclosure Agreement
Bond Purchase Agreement
Ancillary Documents
the Engineer’s Report and Methodology Report
Mr. Klucik asked anything in this bond issuance deviates from prior bond issuances. Mr. Tryka stated that it is generally the same as prior bond issuances, but noted that Cadiz at Ave Maria was originally part of Emerson Park (Pulte), but it’s been replatted and will be developed by CC Homes. Ms. Willson stated that all of the infrastructure will be developed by CC Homes. Ms. Willson asked each part of this item be briefly presented to the Board. Mr. Tryka reviewed the engineer’s report including number of units, infrastructure, etc.
A motion was made by Ms. Robertson, seconded by Mr. Casalanguida and passed unanimously approving the Series 2025 Bonds Supplement to the Amended Third Sub-Master Engineer’s Report for the Maple Ridge Phase 8 and Cadiz at Ave Maria neighborhoods contained Within the Ave Maria Stewardship Community District in substantial form.
Mr. Weyer presented the methodology report. He explained that he used Ted’s report to create the methodology, but the bonds won’t fund the entire project. In order to keep the assessments generally the same as in the past, only a portion of the project will be funded through bonds. Ms. Robertson asked why there are six more strap numbers in the methodology report. Ms. Willson stated that the reports are preliminary and the additional strap numbers will be reviewed and the report will be updated. Mr. Klucik asked if there is a difference between Maple Ridge Phase 8 and Cadiz. Mr. Genson explained that the different projects will have different lots sizes. Cadiz will be smaller lots, similar to Silverwood.
A motion was made by Ms. Robertson, seconded by Mr. DiFlorio and passed unanimously approving the Series 2025 Bonds Supplement to the Amended Third Sub-Master Supplemental Assessment Methodology Report for a Portion of the Maple Ridge and Cadiz at Ave Maria Neighborhoods Within the Ave Maria Stewardship Community District in substantial form.
Ms. Wilhelm presented the Delegated Award Resolution. She explained the two purposes; to enter into an agreement within certain parameters and to approve the documents listed in substantial form. Ms. Roberston questioned if the reference to Phase 8 and Phase 6 is a mistake and needed to be corrected. Ms. Willson stated that it is a bit confusing, but this is Phase 8 of Maple Ridge construction, but Phase 6 of the bond issuance.
A motion was made by Mr. Casalanguida, seconded by Ms. Roberston and passed unanimously approving Resolution No. 2025-06 – Delegated Award Resolution, which includes all documents listed in substantial form.
Consider Resolution No. 2025-07 – Authorizing Boundary Amendment
Ms. Holland presented the item and explained that BC Groves, LLC requests approval from the Ave Maria Stewardship Community District (District) Board of Supervisors to proceed with preparation and filing of legislation and related materials to seek the amendment of the District’s boundaries in accordance with procedural requirements detailed in Florida law. The Act language is attached to the proposed Resolution. The acreage requested to be removed was added to the District’s boundary by Chapter 2023-333, Laws of Florida, through actions initiated in April 2022 culminating in the Florida Legislature’s adoption of the legislation.
Ms. Holland stated that due to changes in the development plan, BC Groves, LLC requests to remove approximately 1,000 acres from the District’s boundaries, located on the east side of Camp Keais Road. The 2022 development plan included the concept of multiple pod development with District financing

and infrastructure. The proposed project is for a privately financed single entity age-restricted (over 55) community of up to 3,500 units. The developer of the land intends for the future project to be part of the Stewardship Receiving Area (SRA) but not part of the Special District. All roads, drainage infrastructure, and irrigation will be private and privately funded. The project will not use District roads for access to the project and it will have a standalone water management system, with no interconnection to the District. Additionally, this private community will provide its own master amenity and neighborhood parks. Although the private community will provide its own irrigation from wells and lakes internally, they plan to purchase water and wastewater services from Ave Maria Utility Company (AMUC). To ensure flexibility in the future for provision of utility or other services, the proposed legislation allows for the District to adopt fees pertaining to services rendered inside or outside its boundaries and enforce same. Please reference the attached development map that clearly notes the area being removed from District boundaries does not use any of the District facilities for access and is proposed to be developed as a separate community.
Ms. Holland stated that if the Board approve Resolution No. 2025-07, District staff will work with the Developer and BC Groves, LLC, to pursue the legislation amending the District's boundary. This approach is consistent with the previous boundary amendment process. Further, as the Act requires the District to update the urban maps every 5 years (last adoption occurred via Resolution No. 2021- 28 in December 2021), the District recommends preparing updates to the urban area maps based on the amended acreage for consideration by the Board as soon as possible after the effective date of legislation removing the acreage from the District. It should also be noted that the 1,000 acre parcel is currently not included in the buildout budget. Lastly, a Developer-related entity will pursue the legislation and bear the cost of doing so in conjunction with BC Groves, LLC. Therefore, there will be no cost to the District.
Mr. Klucik asked what the assumptions are when we do the buildout budget. Mr. Genson stated that we only include what’s in the footprint of the District, not the 1,000 acres. Mr. Klucik stated that someone was instructed to not include the 1,000 acres. Ms. Willson responded that the development plan for the 1,000 acres was not in final form to include in the buildout budget. Mr. Genson added that the buildout budget is based on what is entitled. The 1,000 acres is not yet entitled. Mr. Klucik asked if the sod farm is included in the buildout budget and Ms. Willson stated no, that was just added. Mr. Klucik asked questions about certain areas within the District boundary and Mr. Genson explained what they are. Mr. Klucik asked if the 1,000 acres is planned to be Latitude Margaritaville. Mr. Genson responded yes, it’s been identified as that. He explained that when this 1,000 acres was added to the District, Latitude Margaritaville was not on the radar. The developer wishes to keep fees as low as possible. Mr. Genson continued by agreeing with Mr. Klucik in that it is a lot of work to amend the boundary all over again. Mr. Genson stated that Mr. Klucik has a good point, but this is out of Mr. Genson’s purview. Mr. Klucik asked if BC Groves is part of Barron Collier Companies, and who will go before the legislature. Mr. Genson replied that BC Groves will go before the legislature. Mr. Klucik stated that he thinks this is odd and he doesn’t appreciate it, asking to undo what was adopted a few years ago. Mr. Klucik and Ms. Willson conversed back and forth and Mr. Willson confirmed that this is clarification of Law, nothing has been collected for this property within the District boundary.
A motion was made by Mr. Casalanguida, seconded by Ms. Robertson and passed 4 to 1, with Mr. Klucik dissenting, approving Resolution 2025-07 – Authorizing Boundary Amendment.
Consider Resolution No. 2025-08 – Adopting Fiscal Year 2025/2026 Proposed Budget, O&M Assessments, and Setting Public Hearing
Ms. Holland presented the item. She explained that she presented the Proposed Fiscal Year 2025/2026 Operations & Maintenance (O&M) Expenditures in detail at the Budget Workshop on May 20, 2025. She restructured the O&M expenditures to better fit the operations of the District. She went through each line item in her PowerPoint presentation explaining each of the subcategories. The overall increase in the O&M from FY24/25 to FY 25/26 is $473,091. Significant increases to the O&M expenditures include:

Landscape & Irrigation Maintenance Contract due to additional District property maintenance (Peek Way, Ave Maria Blvd extension, Anthem Parkway Phase 5A&5B, Oil Well Road berm enhancements, and Arthrex Commerce Park berm). Irrigation water also increased in accordance with additional irrigable acres and the proposed rate increase as well.
Additional projects were added to the O&M budget including phase 2 of the security cameras, roundabout uplighting project, crosswalk enhancements, and streetlight numbering. Professional services was also added to the budget to cover services such as traffic studies, transportation services, etc., in addition to the previously budgeted District Engineering services.
Office rent for both administration and operations was added to the budget.
The Administrative Expenditures generally remain the same or increased by CPI (consumer price index) for FY25/26 with the exception of the administrative office rent which increased from $1,000 to $14,400. Ms. Holland noted that earlier this year, the Board approved the office space rent for the District Manager and Operations Manager. The rent is split between the Operations (40%) and Administrative (60%) expenditures in the proposed budget.
Ms. Holland continued by explaining per the direction of the Board, the FY25/26 budget includes a reserve contribution in accordance with the reserve study that was finalized and presented to the Board earlier this year. A new Reserve Sheet has been added to the budget to detail the reserve fund. The reserve assessment was determined based on the buildout budget and consultation with the District’s assessment methodology consultant. In the event the Board approves the Proposed Budget, the District will commence with updates to the O&M methodology report for presentation with the final budget. The only reserve expenditure scheduled for FY 25/26 is irrigation replacement (including electrical) in the amount of $350,000. The reserve budget will be updated annually to include proposed revenues and expenditures.
Ms. Holland stated that last year, staff presented an increase to the O&M assessment as a result of the updated buildout methodology. The Board unanimously approved a stair-step increase to the O&M assessment over three (3) years instead of a one-time increase. The first increase was implemented this current FY and the second increase is proposed in FY25/26.
Ms. Holland reminded the Board that as she previously presented at the Budget Workshop, the reserve contribution will result in an additional increase to the O&M assessment. The O&M methodology was updated to include the reserves and the table presenting the increases based on land-use is included in the budget book.
Ms. Holland reviewed the proposed O&M assessment increase for a single family home, as well as the proposed O&M assessments based on land use, as presented in the meeting book, including reserve assessments.
Mr. Klucik questioned why the CPI adjustment was made to the reserve assessment. Ms. Holland stated that this needs to be corrected and that we will update the reserve assessment without the CPI adjustment to the final budget. Ms. Willson recommended setting the Final Budget Hearing for the August 5, 2025 meeting at 6:00 p.m. She noted that if the proposed budget is approved as presented with the CPI removed from the reserves, District staff will prepare the statutorily required notices (published and mailed to homeowners) advising of the proposed budget and proposed changes to District O&M assessments.
Ms. Holland briefly mentioned that in addition to the proposed budget, the proposed FY 2025/2026 Developer Funding Agreement is included in the meeting book. She noted that the Board does not need to approve the agreement until the adoption of the final budget, but it is included with the proposed budget for review and comments. The Developer Funding Agreement addresses the developer funding the O&M deficit similar to prior years. The Developer Funding Agreement also addresses the Master Irrigation Utility Budget.

A motion was made by Ms. Roberston, seconded by Mr. Casalanguida and passed unanimously approving Resolution 2025-08 – Approving Fiscal Year 2025/2026 Proposed Budget, O&M Assessments, and Setting Public Hearing.
Consider Resolution No. 2025-09 – Adopting Fiscal Year 2025/2026 Proposed Budget for the Master Irrigation Utility System
Ms. Holland presented this item. She explained that she presented the Proposed Fiscal Year 2025/2026 Budget for the Master Irrigation Utility System in detail at the Budget Workshop on May 20, 2025, where she reviewed each line item explaining what each item includes and how the revenues and expenditures were formulated. Ms. Holland explained that the only item questioned by the Board of Supervisors was the Administration Fee expenditure. The Administration Fee of $12,000 has not increased from the previous fiscal year. As the owner of the Master Irrigation Utility, this administrative fee is paid to Special District Services, Inc. (SDS) at $1,000 per month for back-end billing, coordination, budget preparation, and reconciliations with Ave Maria Utility Company (AMUC) and the irrigation management company, Peninsula Improvement Corporation (PIC). Ms. Holland stated that it is important to note that the increased Irrigation Revenue (collected on AMUC bills) includes the proposed rate increases pursuant to the Irrigation Rate Study that was presented at the May 6, 2025 Regular Board Meeting. The Board had no further questions or comments and agreed that the budget is in line with previous years.

A motion was made by Mr. DiFlorio, seconded by Mr. Casalanguida and passed unanimously adopting Fiscal Year 2025/2026 Proposed Budget for the Master Irrigation Utility System.
Consider Resolution No 2025-10 – Setting Public Hearing for Irrigation Utility Rate Change and Irrigation Policy and Procedures
Ms. Holland presented this item. She explained that at the May 6, 2025 Regular Board Meeting, Stantec presented the proposed updates to the irrigation rate structures and proposed rate changes. The Board of Supervisors unanimously agreed to move forward with the recommended updates to the irrigation rates.
The proposed irrigation fee schedule is included in the meeting book, both a clean version and a redlined comparison version. Notable changes include:
Scaling base charges by meter size: Larger meters pay more due to higher system demand and impact.
Tier updates: Residential tiers revised to match current usage patterns.
Future Indexing: Allows rates to keep pace with rising costs, and more importantly, further close the gap in the costs of operation and maintenance of the system.
Addressing Cost Recovery: Proposed changes aim to move rates toward full cost-recovery of the expenses of operation and maintenance of the system.
Ms. Holland explained that staff reviewed the master irrigation system rules and regulations policy in detail and made minor edits to the document including formatting changes and updates to the application process addressing online applications. In accordance with the requirements of Chapter 2004-461, Laws of Florida, District staff recommends the Board of Supervisors approve Resolution 2025-10 to set and notice a public hearing to take actions needed to adopt the amended master irrigation system rules and regulations and the updated irrigation fee schedule in conjunction with the District’s budget adoption process.
A motion was made by Mr. Casalanguida, seconded by Ms. Robertson and passed unanimously Approving Resolution No. 2025-10 – setting public hearing for irrigation utility rate change and irrigation policy and procedures.

Provide Update to Board Regarding District Speed Study and Stop Sign Warrant Analysis
Mr. Tryka, District Engineer, presented this item. Both the Speed Limit Study Report and the Stop Sign Warrant Analysis are included in the meeting book. Mr. Tryka provided updates to the Board of Supervisors on the findings of the study. He explained that the actual speed was measured at various locations on February 4, 5, and 6, 2025. The study focuses on 85% speed. Mr. Tryka noted that there are two instances where the study recommends increasing the speed in Ave Maria; the first is on Ave Maria Blvd between The National and Bellera and the second is on Pope John Paul II Blvd between Milano and Allegra. Mr. Tryka stated that he recommends NOT increasing the speed limits, but reiterated that the report is a good guide. Mr. Roth is concerned about the speed of the golf carts recorded in the report; they are clearly exceeding the 25 mph speed limit for golf carts. Mr. Tryka stated that the crosswalk study will address the enhancements at the crosswalks. Mr. Roth asked when should we reevaluate the speed study. Mr. Tryka responded that we have been conducting the speed/traffic studies approximately every two years. Mr. Tryka continued with a discussion of the stop sign warrant analysis at Avila and Taylor. He explained that one of five warrants must be met to warrant a stop sign at this intersection and none of the warrants were met.

Administrative Matters
Legal Report
Ms. Willson had nothing specific to report.

Engineer Report
Mr. Tryka had nothing further to report.
Manager’s Report
Financials
Ms. Holland indicated that the financials were included in the meeting book and we were still tracking well so far. She stated that there will be overages to some items, but nothing that she hasn’t already disclosed to the Board. She mentioned that at the ground breaking for the new Ave Maria elementary school, the mascot was announced: the Cardinals.

Final Public Comments
Mr. Mazanowski stated that the intersection of Seton Street and Battlecreek Way could use some safety enhancements. He believes this is a dangerous intersection where a stop sign may be warranted on Seton Street.
Board Member Comments
Mr. DiFlorio asked if there are plans to widen Camp Keais Road. Mr. Casalanguida responded, yes, and also plans to construct roundabouts too.

Adjournment

There being no further business to come before the Board, the Regular Board Meeting was adjourned at 8:37 p.m. by Chairman Roth. There were no objections.

	
Secretary/Assistant Secretary	Chair/Vice-Chairman

Project Name and Date Appeared on List	
Start Date	
End Date	
% Complete	
Est. Cost	Cost Under Contract (to-date)
*denotes approximate cost	
Funding Source	
EOR/Vendor	Responsible Party	
Comments	

Anthem Parkway Ph 5A (North Park to Avalon)

6/7/2022	

2nd quarter 2023	Anthem Parkway Roadway: Q2 2025
IPS #4:
Q1 2026	

100% Design	70% Construction	

$10,264,854	

*$13,100,000	

2023 Bonds and
future 2025 Bond Issuance	

Daniel Hartley	

Allyson Holland (District)	
Roadway is paved (1st lift). Mainline conduit (electrical, etc.) construction is complete. LCEC has mobilized for installation of electric and lighting. Comcast and Lumen to follow LCEC. Landscaping anticipated to start 7/1. Final completion of 5A roadway expected by Summer 2025.	

Anthem Parkway Ph 5B (Includes roundabout at PJPII)

6/7/2022	

1st quarter 2025	

1st Quarter 2026	

100% Design	

$8,394,852	

*$278,000	

2023 Bonds and
future 2025 Bond Issuance	

Daniel Hartley	

Allyson Holland (District)	Site construction permits are approved. Contracts with Earth Tech and DN Higgins is executed. Contract with O'Donnell in progress. Earth Tech has mobilized for erosion control installation. Import of material to begin soon. MOT for PJP2/Anthem intersection approved.
Roadway work will commence in July.	

Arthex Commerce Park Phase 2

5/7/2024	

2/1/2024	

7/31/2025	

100% Design	85% Construction	

$2,402,283	

$2,426,195	Developer Contribution Agreement, partial 2023 bonds, and future 2025 bonds	

David Hurst	

AMD and District	

Lake excavation is complete and road is paved. Filling of berm is ongoing. Landscape will commence after berm is complete.	

Athrex Commerce Park Phase 3

12/26/2024	

4/1/2025	

4/1/2026	Mass Grading/Excavation 100% w/ pending
modifications, 5%
Construction	

TBD	
Earthwork/Mass Grading Only -
$2,045,036.80	

2025 Bonds	

David Hurst	
AMD and District	
The first phase of earthwork (i.e. lake excavation and mass grading) began in May. The roadway and utility design is not complete and has not been submitted for permit review yet.	
Town Core Landscape Improvements
12/26/2024	
4/15/2025	
9/1/2025	
25% Construction	
N/A	
$90,468.55	
FY 24/25 O&M
Budget	
Steve Sammons	Allyson Holland (District)	Plant replacement complete at Oil Well Road entrance. Plant
removal and be prep complete on Ave Maria Blvd. Plant replacement will continue in July. Town Core enhancements will be completed in July.	

District Streetlight Analysis

1/23/2025	

1/23/2025	

9/30/2025	

40%	

TBD	

TBD	

FY 24/25 O&M
Budget	

TBD	
Allyson Holland (District)	Bob Lee will replace wire on section of lights on Ave Maria Blvd this summer. Bi-monthly lights out report has proven to be effective. Electrical fire on 6/19/25 at District meter resulted in outage of circuit of lights near Oil Well Road. Major eletricral replacments/repairs necessary for repair.	
Purchasing Policy 1/23/2025	
1/30/2025	
9/30/2025	
10%	
TBD	
TBD	
N/A	
N/A	Allyson
Holland (District)	District manager is working with Legal Counsel to put together a more robust purchasing policy.	
Distrct Website Update
1/23/2025	1/23/2025	9/30/2025	30%	TBD	TBD	N/A	GSMA	Allyson
Holland (District)	Updates to website continue. Map of District included on "Links" page.	

Stewardship Community District
Goals, Objectives, and Performance Measures/Standards & Annual Reporting Form October 1, 2024 – September 30, 2025

COMMUNICATION AND COMMUNITY ENGAGEMENT

Goal 1.1	Access to Records and Documents	
Objective	Ensure that meeting minutes and other public records are readily available and easily accessible to the public by completing monthly website checks.	
Measurement	Monthly website reviews will be completed to ensure meeting minutes and other public records are up to date as evidenced by District Management’s records.	
Standard	100% of monthly website checks were completed by District Management	
Achieved	YES / NO	
10/1/24
Comments	Website is up to date.	
11/12/24
Comments	September meeting minutes included in November meeting book. Website is up to date.	
1/28/25
Comments	Website is up to date. Improvements to website are underway.	
2/24/25
Comments	Website is up to date. Improvements are being reviewed and underway.	
3/24/25
Comments	Website is up to date. Improvements are being reviewed and underway.	
4/29/25
Comments	Website is up to date and improvements are in progress.	
5/27/25
Comments	Website is up to date and improvements continue.	
7/1/25
Comments	Website is up to date and improvements continue.	

Goal 1.2	Improve Communication	
Objective	Develop strategic messaging and communication materials to support the mission of the District. Inform and educate community members and key stakeholders about the role and responsibilities of the District. Explore options regarding how to best achieve including but not limited to working with a professional marketing & public relations firm.	

Measurement	Provide District Overview Power Point Presentation at one or more Board meetings. Provide a minimum of two (2) communication outlets to effectively share information and initiatives.	
Standard	Maintain communication outlets.	
Achieved	YES / NO	
10/1/24
Comments	Contract with public relations firm will be brought to Board for approval in November.	
11/12/24
Comments	AMD contract with GSMA is on November meeting agenda.	
1/28/25
Comments	District Joinder to existing agreement between AMD & GSMA is on 2/4/25 agenda. GSMA conducted an audit of District website. District Manager and Legal Counsel are reviewing suggested improvements to the District’s website.	
2/24/25
Comments	No update since last month.	
3/24/25
Comments	GSMA assisting District as necessary.	
4/29/25
Comments	“Button” added to website for residents to quickly report lights out, irrigation issues or other items to District staff. Numerous emails have been sent to-date. District Manager meets w/ residents, AMU, HOA’s etc. and communication has been greatly improving. District includes pertinent information in Friday Flash email blasts.	
5/27/25
Comments	Plan provide District Overview Power Point Presentation at July meeting.	
7/1/25
Comments	Provide District Overview Power Point Presentation at 7/1 meeting.	

OPERATION & MAINTENANCE OF INFRASTRUCTURE AND ASSETS

Goal 2.1	Operate & Maintain District Infrastructure and Assets	
Objective	Insure, Operate, and Maintain District-owned Infrastructure and Assets.	
Measurement	Ensure annual renewal of District Insurance Policy(s), ensure contracted services for District operations are in effect, and verify compliance with all required permits.	
Standard	District insurance renewed and in force, contracted services in effect, and permits in compliance.	
Achieved	YES / NO	
10/1/24
Comments	District Insurance Policy was renewed last week of September.	
11/12/24
Comments	District assets are insured. Staff working on striping, paving, and drainage maintenance improvements for current FY.	
1/28/25
Comments	Roadway and drainage improvements complete in multiple locations. Power washing efforts are underway. Striping and tree trimming	

	contracts will be presented at 2/4/25 Board meeting. District staff working on labeling light poles.	
2/24/25
Comments	Oil Well Road light poles are being added to insurance policy. Striping and tree trimming have commenced. Landscaping enhancements will be presented to Board in April 2025.	
3/24/25
Comments	OWR lights added to insurance policy. Striping complete and tree trimming ongoing. Landscaping enhancements presented April 1, 2025.	
4/29/25
Comments	Tree trimming complete. District staff conducting District-wide sidewalk inspection. Landscaping enhancements delayed due to drought (water restrictions). Davey Tree service is continuing to improve despite the drought conditions.	
5/27/25
Comments	Sidewalk inspection is complete. Landscaping enhancements have commenced. First month of street sweeping complete.	
7/1/25
Comments	Operations and maintenance of District continues.	

Goal 2.2	Asset Management Software Integration	
Objective	Complete asset management software integration. Onboard select contractors to utilize asset management software for “live” update of District assets.	
Measurement	Complete asset management integration. Complete onboarding process for at least one select contractor.	
Standard	Utilize asset management software to assist with operating budgets.	
Achieved	YES / NO	
10/1/24
Comments	ETM will be presenting asset management software at November meeting. Staff continues to utilize Cartegraph daily.	
11/12/24
Comments	ETM presenting at November meeting. Onsite staff training with ETM 11/12 – 11/14 with ETM.	
1/28/25
Comments	FY24/25 Contract is in place w/ ETM. Onboarding complete with Bob Lee Electric. District staff working with ETM to expand District’s database.	
2/24/25
Comments	Staff continues to work with ETM to expand the District’s database. Staff will work with Davey to onboard new onsite branch manager for landscape and irrigation assets.	
3/24/25
Comments	ETM assisting with numbering lightpoles. Continuing to work with Bob Lee Electric to document lightpole issues. Staff added bubble up structures to Cartegraph for monthly inspection. Cleaning up District drainage infrastructure.	
4/29/25
Comments	Numbers have been assigned to lightpoles. District staff continues to add assets to Cartegraph. Sidewalk inspection documented in Cartegraph.	
5/27/25
Comments	Staff continues to use Cartegraph daily.	
7/1/25
Comments	Objective achieved.	

FINANCIAL TRANSPARENCY AND ACCOUNTABILITY

Goal 3.1	Annual budget preparation	
Objective	Prepare a budget planning calendar that includes dates for additional agreed upon tasks (e.g. one-on-one meetings, Workshops, etc.).
Prepare and approve the proposed annual budget before July 15 and adopt final budget by September 15.	
Measurement	Present budget planning calendar to the Board by January meeting date. Proposed budget approved by the Board before July 15 and final budget adopted by September 15 as evidenced by meeting minutes and budget documents listed on District website and/or within district records.	
Standard	100% of budget approval and adoption completed by the statutory and Collier County deadlines and posted to the District website.	
Achieved	YES / NO	
10/1/24
Comments	Manager has begun budget planning calendar.	
11/12/24
Comments	District manager scheduled meeting with developer to discuss remaining district infrastructure and future projects on 11/12/24.	
1/28/25
Comments	Budget calendar was approved by Board on 1/7/25. District manager is on track to meet budget calendar planning items.	
2/24/25
Comments	Budget planning ongoing.	
3/24/25
Comments	Budget and CIP planning ongoing.	
4/29/25
Comments	Budget and CIP planning on going.	
5/27/25
Comments	FY 25/26 Proposed Budget presented in detail at Budget Workshop. CIP planning ongoing. Proposed budget presented for approval on 6/3.	
7/1/25
Comments	Final budget hearing scheduled for 8/5/25.	

Goal 3.2	Reserve Study	
Objective	Finalize and approve the final Reserve Study by February 2025. Incorporate plan for funding reserves based upon reserve study.	
Measurement	Present final reserve study to Board for approval by February 2025. Incorporate plan for funding reserves for Fiscal Year 2025/2026.	
Standard	Reserve study finalized and updated as needed.	
Achieved	YES / NO	
10/1/24
Comments	Manager will meet with Reserve Advisors this month to discuss changes to finalize the reserve study.	
11/12/24
Comments	District manager met with Reserve Advisors to discuss changes to reserve study on 10/22/24 (delayed due to hurricanes). Reserve Advisors will update reserve study and report back to manager prior to	

	finalizing study. Funding the reserves will be brought to the Board for discussion.	
1/28/25
Comments	Reserve Advisors sent revised Reserve Study to District Manager on 1/2/25 and District Manager distributed revised Reserve Study to Board of Supervisors. The Board unanimously agreed to discuss the revised Reserve Study, including funding the study, at the March 4, 2025 meeting. Staff is working to prepare presentation of Reserve Study and funding options for March meeting.	
2/24/25
Comments	First presentation of revised Reserve Study will be discussed with Board on 3/4/25.	
3/24/25
Comments	Reserve funding, including buildout infrastructure, will be discussed with Board on 4/1/25.	
4/29/25
Comments	Reserve funding presented to Board on 4/1/25. Reserve funding will be incorporated into FY 25/26 Budget.	
5/27/25
Comments	Reserve funding incorporated into FY 25/26 Proposed Budget.	
7/1/25
Comments	Reserve funding approved with proposed FY 25/26 budget.	

Stewardship Community District

MEMORANDUM

To:	Board of Supervisors
From: Allyson Holland, P.E., District Manager
Date: June 23, 2025
Board Meeting Date:	July 1, 2025

SUBJECT

Provide District Overview Presentation.

STAFF RECOMMENDATION

Staff recommends the Board of Supervisors receive the District Overview Presentation.

GENERAL INFORMATION
The District’s Goals, Objectives, and Performance Measures/Standards were approved unanimously at the September 10, 2024 Board Meeting. Improving communication is included as Goal 1.2 under Communication and Community Engagement. This goal includes providing a District Overview Power Point Presentation at one or more Board meetings. The District Manager will present the District Overview presentation.

PROCUREMENT REVIEW
Not applicable.
DISTRICT ENGINEER REVIEW

Not applicable.

DISTRICT LEGAL COUNSEL REVIEW

Not applicable.
FUNDING REVIEW
Not applicable.

Attachment

1

	

D

–

IS	Independent Special District

“Local unit of special purpose government”

Provides a mechanism to finance, construct and maintain high quality improvements and amenities

Separate from, and NOT an arm of, the County or City

Stewardship Community District

D

–

AMSC

Ave Maria Stewardship Community District

Established in accordance with the Uniform Special District Accountability Act (Ch.189, F.S.) by special act of the Florida Legislature (Ch. 2004- 461, Laws of Florida)

Stewardship Community District

D

o

What Can an IS

D  ?

Allowed by Ch. 2004-461, Laws of Florida

An ISD can construct/acquire the following:

Construct and maintain public infrastructure
Levy and collect non-ad valorem assessments for operations and maintenance & bond debt service
Contract for services
Borrow money & issue bonds
Adopt rules
Maintain an office
Charge fees
Levy, collect & enforce special assessments

Stormwater management infrastructure
Water and wastewater infrastructure
Roadways and street lighting
Hardscaping, landscaping, irrigation
Conservation areas, mitigation areas, and wildlife habitats
Any project set forth in a development order or interlocal agreement

Stewardship Community District

D

o

What Can an IS

Not D  ?

Not Allowed by Ch. 2004-461
Issue building permits
Regulate land use/zoning
Issue development orders
Enforce code compliance
Architectural review
Provide Police/EMS/Fire Services

An ISD cannot take any action which is inconsistent with the comprehensive plans, ordinances and regulations of the County
An ISD does not have the power to adopt its own comprehensive plan, building code or land development code – it is not a zoning authority
All the ISD’s powers must comply with all applicable County laws, rules, regulations, and policies governing planning and permitting of the development

Stewardship Community District

Disclosed in Sales Contracts
Mandatory Public Website: https://avemariastewardshipcd.org/
Subject to Sunshine Laws & Public Records Laws
All Meetings & Public Hearings Must Be Advertised & Posted
Advertised in Newspaper per statutory requirements and Annual Schedule is posted on website

Public Procurement Laws Govern

ISD Transparency

Recordable Notice of Establishment
Recordable Disclosure of Public Finance
Recordable Notice of Special Assessments
Annual Audit Required
Minutes are kept of each meeting

Stewardship Community District

How are ISDs Governed?

AMSCD Board
Board Meeting Agendas and Protocol

Governed by a 5-member Board of Supervisors. Election is in accordance with Ch. 2004-461. Currently:
3 Elected by Landowners at Landowner Meeting
2 Elected by Qualified Electors on General Election Ballot (Residents registered to vote in Collier County)
Elections every 2 years (4-year terms) in November
Board Member Roles:
Receive input from constituents
Sets public policies implemented by AMSCD staff
Makes material business decisions for AMSCD

Action taken by AMSCD shall be by majority vote of the Board, but the Chairman has certain authorization in making day-to-day decisions (in conjunction with AMSCD staff) in between Board meetings

District Business:
Most policy is adopted by Resolution (versus by an “Ordinance” like the City or County)
Some items require public hearings- i.e. rules, rates, assessments, etc.
Public Notice of Meetings- at least 7 days prior to meeting
Newspaper advertisement
Agenda package is distributed by email to distribution list
Agenda package is placed on AMSCD website
Meetings are open to the public
Members of the public are able to provide comments on agenda items
During “Audience Comments” portion of agenda only
3-minute limit
Not a Q&A session

Stewardship Community District

a

y

-

o

-

Your D

to Day Administrative Team

District Manager	District Counsel	District Engineer	
Administrator of AMSCD	Legal counsel to AMSCD	Engineer of AMSCD	
Oversees AMSCD’s operations

Prepares budget and administers accounting and finance functions	Ensures that AMSCD conducts its business in accordance with Florida law	Provides support services regarding planning, design, permitting, construction, and operation and maintenance of the AMSCD’s infrastructure	
Allyson Holland, P.E.
Special District Services, Inc.	Alyssa Willson, Esq.
Kutak Rock LLP	Edward Tryka, P.E.
LJA Engineering	

Stewardship Community District

Stewardship Community District

MEMORANDUM

To:	Board of Supervisors
From: Allyson Holland, P.E., District Manager
Date: June 23, 2025

Board Meeting Date:	July 1, 2025

SUBJECT

Discuss goals, objectives, and performance measures and standards for FY 2025-2026
STAFF RECOMMENDATION

Staff recommends the Board of Supervisors discuss goals, objectives, and performance measures and standards for FY 2025-2026.

GENERAL INFORMATION
During their 2024 legislative session, the Florida Legislature adopted House Bill 7013 (HB7013), which among other things, created Section 189.0694, Florida Statutes, which requires all special districts to adopt goals and objectives along with performance measures and standards to determine if a district has met its goals and objectives; this shall be done by October 1 each year. Additionally, by December 1 each year (initial report due on December 1, 2025), each special district is required to publish an annual report on its website, detailing the goals and objectives achieved, the performance measures and standards used, and any goals or objectives that were not achieved. Last year, staff identified, and the Board approved, the following key categories of focus and developed statutorily compliant goals for each:
Communication and Community Engagement
Access to Records and Documents
Improve Communication
Operation & Maintenance of Infrastructure and Assets
Operate & Maintain District Infrastructure and Assets
Asset Management Software Integration
Financial Transparency and Accountability
Annual budget preparation
Reserve Study
The current goals/objectives and the annual reporting form are attached to this memo. Staff recommends that the Board of Supervisors discuss the current goals and objectives and advise staff of any changes for FY 2025-2026.
1

Stewardship Community District

MEMORANDUM

If the Board wishes to amend the goals and objectives, staff will bring a Resolution before the Board on September 9, 2025 to adopt these goals and objectives to maintain compliance with HB7013.

PROCUREMENT REVIEW
Not applicable

DISTRICT ENGINEER REVIEW

Not applicable
DISTRICT LEGAL COUNSEL REVIEW

The District Legal Counsel has reviewed and approved.

FUNDING REVIEW
Not applicable Attachments

2

Stewardship Community District
Goals, Objectives, and Performance Measures/Standards & Annual Reporting Form October 1, 2024 – September 30, 2025

COMMUNICATION AND COMMUNITY ENGAGEMENT

Goal 1.1	Access to Records and Documents	
Objective	Ensure that meeting minutes and other public records are readily available and easily accessible to the public by completing monthly website checks.	
Measurement	Monthly website reviews will be completed to ensure meeting minutes and other public records are up to date as evidenced by District Management’s records.	
Standard	100% of monthly website checks were completed by District Management	
Achieved	YES / NO	
Comments		

Goal 1.2	Improve Communication	
Objective	Develop strategic messaging and communication materials to support the mission of the District. Inform and educate community members and key stakeholders about the role and responsibilities of the District. Explore options regarding how to best achieve including but not limited to working with a professional marketing & public relations firm.	
Measurement	Provide District Overview Power Point Presentation at one or more Board meetings. Provide a minimum of two (2) communication outlets to effectively share information and initiatives.	
Standard	Maintain communication outlets.	
Achieved	YES / NO	
Comments		

OPERATION & MAINTENANCE OF INFRASTRUCTURE AND ASSETS

Goal 2.1	Operate & Maintain District Infrastructure and Assets	
Objective	Insure, Operate, and Maintain District-owned Infrastructure and Assets.	
Measurement	Ensure annual renewal of District Insurance Policy(s), ensure contracted services for District operations are in effect, and verify compliance with all required permits.	
Standard	District insurance renewed and in force, contracted services in effect, and permits in compliance.	
Achieved	YES / NO	
Comments		

Goal 2.2	Asset Management Software Integration	
Objective	Complete asset management software integration. Onboard select contractors to utilize asset management software for “live” update of District assets.	
Measurement	Complete asset management integration. Complete onboarding process for at least one select contractor.	
Standard	Utilize asset management software to assist with operating budgets.	
Achieved	YES / NO	
Comments		

FINANCIAL TRANSPARENCY AND ACCOUNTABILITY

Goal 3.1	Annual budget preparation	
Objective	Prepare a budget planning calendar that includes dates for additional agreed upon tasks (e.g. one-on-one meetings, Workshops, etc.).
Prepare and approve the proposed annual budget before July 15 and adopt final budget by September 15.	
Measurement	Present budget planning calendar to the Board by January meeting date. Proposed budget approved by the Board before July 15 and final budget adopted by September 15 as evidenced by meeting minutes and budget documents listed on District website and/or within district records.	
Standard	100% of budget approval and adoption completed by the statutory and Collier County deadlines and posted to the District website.	
Achieved	YES / NO	
Comments		

Goal 3.2	Reserve Study	
Objective	Finalize and approve the final Reserve Study by February 2025. Incorporate plan for funding reserves based upon reserve study.	
Measurement	Present final reserve study to Board for approval by February 2025. Incorporate plan for funding reserves for Fiscal Year 2025/2026.	
Standard	Reserve study finalized and updated as needed.	
Achieved	YES / NO	
Comments		

Stewardship Community District

MEMORANDUM

To:	Board of Supervisors
From: Allyson Holland, P.E., District Manager
Date: June 22, 2025

Board Meeting Date:	July 1, 2025

SUBJECT

Consider Approval of Contract Amendment with Davey Tree Expert Company for Landscape and Irrigation Maintenance Services for Anthem Parkway Phase 5A.

STAFF RECOMMENDATION

Staff recommends Approval of the Contract Amendment with Davey Tree Expert Company for Landscape and Irrigation Maintenance Services for Anthem Parkway Phase 5A.

GENERAL INFORMATION
At the September 10, 2024 Regular Board Meeting, the Board of Supervisors unanimously approved extending and amending the Landscape and Maintenance Services Contract to Davey Tree Expert Company (Davey Tree).  The contractual cost for the first annual renewal is
$729,793.00 which was included in the adopted FY 2024-2025 Operations and Maintenance Budget (Landscape Maintenance Contracts). The Developer agreed to fund the $31,829.00 amendment to the contract extension for Massa Way, which was turned over to the District after the budget was established. The Developer also agreed to fund the landscape and irrigation maintenance associated with the Ave Maria Boulevard Extension in the amount of $32,681.00. To-date, the total approved contract amount for Davey Tree is $794,303.00.

The Anthem Parkway Phase 5A project is nearly complete and the District is responsible for landscape and irrigation maintenance of this area as this is District property. Anthem Parkway Phase 5A is not a part of the existing Davey Tree contract. Davey Tree provided an annual cost of $39,366.45 to provide service to this area. This cost is consistent with the existing contract for the required services. The Developer has agreed to fund the cost of the amendment for the remainder of the fiscal year (to be billed monthly if project is complete and turned over to District for maintenance). If approved, this will bring the total contract price to $833,669.45
PROCUREMENT REVIEW

Not applicable

1

Stewardship Community District

MEMORANDUM

DISTRICT ENGINEER REVIEW

The District Engineer has reviewed and approved the attached contract amendment.

DISTRICT LEGAL COUNSEL REVIEW

The District Legal Counsel has reviewed and approved the attached contract amendment for legal form and sufficiency.

FUNDING REVIEW
The first annual renewal cost of $729,793.00 was included in the adopted FY 2024-2025 Operations & Maintenance Budget and the Developer agreed to fund the $31,829.00 amendment for Massa Way, the $32,681.00 amendment for the Ave Maria Boulevard extension, and the proposed amendment for Anthem Parkway Phase 5A in the amount of $39,366.45 for the remainder of the fiscal year. If approved, the total amended contract price to Davey Tree will be $833,669.45.

Attachments

2

THIRD AMENDMENT TO LANDSCAPE AND IRRIGATON MAINTENANCE SERVICES AGREEMENT BY AND BETWEEN AVE MARIA STEWARDSHIP COMMUNITY DISTRICT AND
THE DAVEY TREE EXPERT COMPANY

This Third Amendment (the “Third Amendment”) is made and entered into as of this 1st day of July, 2025, by and between:
Ave Maria Stewardship Community District, a local unit of special-purpose government established pursuant to Chapter 2004-461, Laws of Florida, as amended, being situated in Collier County, Florida, and having offices at 2501A Burns Road, Palm Beach Gardens, Florida 33410 (the “District”), and
The Davey Tree Expert Company, an Ohio Corporation, whose address is 1500 North Mantua Street, Kent, Ohio 44240 (the “Contractor” and together with the District, the “Parties”).
RECITALS
Whereas, the District and the Contractor entered into that Landscape and Irrigation Maintenance Services Agreement (the “Agreement”), dated October 1, 2023; and

Whereas, pursuant to Section 20 of the Agreement, the Parties desire to amend the Agreement as set forth in more detail in Section 2 below and

Whereas, any terms not otherwise defined herein shall have the meaning set forth in the Agreement.
Whereas, the Parties each represent that it has the authority to execute this Third Amendment and to perform its obligations and duties hereunder, and each has satisfied all conditions precedent to the execution of this Third Amendment so that this Third Amendment constitutes a legal and binding obligation of each party hereto.

Now, therefore, based upon good and valuable consideration and the mutual covenants of the Parties, the receipt of which and sufficiency of which is hereby acknowledged, the Parties agree as follows:

SECTION 1.  The Agreement is hereby affirmed and continues to constitute a valid and binding agreement between the Parties. Except as described in Section 2 of this Third Amendment, nothing herein shall modify the rights and obligations of the Parties under the Agreement. All of the remaining provisions, including, but not limited to, the engagement of services, indemnification and sovereign immunity provisions, remain in full effect and fully enforceable.

SECTION 2.  Pursuant to Section 20 of the Agreement, the Agreement is hereby amended as follows:

A.  The scope of services shall be revised pursuant to Contractor’s proposal for the addition of services (the “Additional Services”) as further described in Exhibit A attached hereto. As compensation for the Additional Services the District agrees to pay Contractor an additional amount of Thirty-Nine Thousand Three Hundred Sixty-Six Dollars and Forty Five Cents ($39,366.45) per year. Such payment shall be due and payable in accordance with the terms of the Agreement.

SECTION 3.  To the extent that the terms of the Agreement or the Proposals conflict with the terms set forth in Section 2 above, the terms of the Agreement and Third Amendment shall control.

SECTION 4.  All remaining terms and conditions of the Agreement, without limitation, are hereby adopted, reaffirmed and incorporated as if restated herein.
In witness whereof, the Parties execute this Third Amendment the day and year first written above.
Attest:	AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

Secretary / Assistant Secretary	Chairman / Vice Chairman

ATTEST:	THE DAVEY TREE EXPERT COMPANY

By: 	
Witness		Name: 	 Name: 		Its: 	

Exhibit A:	Proposal

Exhibit A

AVE MARIA STEWARDSHIP COMMUNITY DIS

Sales:

Paul Mollberg

5080 ANNUNCIATION CIR UNIT
101
AVE MARIA, FL  34142-9655

Ave Maria Anthem 5A Maintenance 2025
5080 ANNUNCIATION CIR UNIT 101 AVE MARIA, FL 34142-
9655

Est ID: Date:

EST3121180 Apr-29-2025

CONTRACT SERVICES	Visits	Billing Type

Mowing/Trimming/Blowing	46	Per Season

Mowing - Mowing height will be adjusted according to weather conditions and turf type, and to permit recycling of grass clippings and present a neat appearance. Papers and other debris will be removed from lawn prior to mowing. Trimming will be performed around all obstacles and along edges of mulch beds and tree rings, sign posts, utility poles, etc., as needed, to trim the turf at the same level as the mowing height.

Edging	46	Per Season

Power edging - We will perform power edging to maintain a crisp, tailored appearance along hard surfaces such as concrete curbs, walks and driveways as needed.

Pre-Emergent	1	Per Season

Pre- and post-emergent herbicides will be utilized to control weed and grass growth in mulch beds, cracks of curbs, parking areas and other visible non-turf areas.

Weeding	12	Per Season

Hand weeding will be performed when needed to remove larger weeds.

Davey Tree - Ave Maria
5072 Annunciation Cir Ste 333 Ave Maria, Florida

P.(321) 695-9213

paul.mollberg@davey.com

34142	page 1 of 4

CONTRACT SERVICES	Visits	Billing Type

Shrub/Ground Cover Pruning	12	Per Season

Shrubs and groundcover will be pruned according to industry standards, plant type and design intent to shape new growth and remove dead branches.

Fertilizer/Weed Control	1	Per Season

Fertilization and Weed Control We customize our applications to meet the specific requirements of your turf and the season to maintain a healthy appearance. Davey Tree will identify and make known to the client the chemicals used on the property and will provide MSDS as requested. Davey Tree will post a chemically treated areas or chemical treatment signs as required by law or as reasonable requested by the client.

Fertilizer/PreM	1	Per Season	
Fertilizer Only	4	Per Season	
Insect Control	1	Per Season	

ll shrubs and ornamental trees will be inspected for plant damaging insects four times throughout the season and treated if insects are present. Davey Tree will identify and make known to the client the chemicals used on the property and will provide MSDS as requested. Davey Tree will post a "chemically treated area" or "chemical treatment" sign as required by law or as a reasonably requested by the client.

Fungicide Granular	1	Per Season	
Irrigation - Inspection	12	Per Season	

We will inspect and adjust heads and watering frequency based on monthly conditions throughout the growing season. 2 Visits

CONTRACT SERVICES	Visits	Billing Type		
SubTotal {All Contract Services)	$39,366.45	
Taxes	$0.00	
Total {All Contract Services)	$39,366.45	

The total price of all seasonal services is $39,366.45 collected in 12 payments of $3,280.54 per payment
{$3,280.54 after tax).

PRICING AND PAYMENT TERMS

Billing:

Monthly Billing: Total Program Cost will be invoiced in equal monthly installments over 12 months from January through December.

Due to escalating petroleum costs which have affected our fertilizer and fuel costs, a fuel surcharge will be added to the invoiced amount. Currently, that surcharge is set at 2.5% and will be adjusted - up or down - based on the national average cost of gas.

AUTHORIZATION

We, the undersigned client, have read and agree to the above grounds management proposal and accept its terms. Davey is authorized to proceed pursuant to this contract.

SERVICE TERMS

Davey Commercial Landscape Services, a division of The Davey Tree Expert Company ("Davey"), proposes to furnish all necessary labor, materials, equipment and supervision to perform grounds management services at the above noted service address (the "Site"). Our scope of work will be based on the client-approved services under the terms of this Grounds Management Contract (the "Contract").

Uniformed, professionally trained, and properly supervised personnel shall perform all work. Landscape debris generated from Davey's work will be removed from the site at the end of each working day.

Davey will maintain in effect throughout the term of this Contract the necessary insurance and worker's compensation coverage required by law. Certificates of Insurance and references will gladly be provided upon request.

Additional services not included in the original contract must be approved in writing by an authorized representative before Davey can proceed. Program costs do not include applicable sales tax. If the client chooses to cancel or delay normal weekly services, additional costs may be incurred due to additional time required to perform these delayed tasks.

On the contract anniversary date this contract automatically renews from year to year with an increase of 3% or CPI whichever is greater unless cancelled by either party with 30 days written notice received prior to the anniversary date. Upon cancellation, payment is due within 10 days for all services performed and unpaid. If billing option "A- monthly level billing" is chosen, the billed amount is not indicative of actual services performed. Accounts which are 30 days past due will accrue interest at a rate of one and one-half percent (1.5%) per month. Accounts with outstanding balances over 60 days

Davey Tree - Ave Maria
5072 Annunciation Cir Ste 333 Ave Maria, Florida

P.(321) 695-9213

paul.mollberg@davey.com

34142	page 3 of 4

may have services suspended until the account becomes current.

Estimate authorized by:

Signature Date:

Paul Mollberg 04/29/2025

Estimate approved by:

Signature Date:

Email:	paul.mollberg@davey.com

Davey Tree - Ave Maria
5072 Annunciation Cir Ste 333 Ave Maria, Florida

P.(321) 695-9213

paul.mollberg@davey.com

34142	page 4 of 4

SERIES 2025 BONDS SUPPLEMENT TO THE AMENDED THIRD SUB-MASTER SUPPLEMENTAL ASSESSMENT METHODOLOGY REPORT FOR A PORTION OF THE MAPLE RIDGE AND CADIZ AT AVE MARIA NEIGHBORHOODS WITHIN THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

June 23, 2025

Prepared for

Board of Supervisors

Ave Maria Stewardship Community District Prepared by

Real Estate Econometrics, Inc.

Real Estate Econometrics, Inc. Suite 100
707 Orchid Drive
Naples, Florida 34102
(239) 269-1341
Ree-i.Com

THE SERIES 2025 BONDS SUPPLEMENT
TO THE AMENDED THIRD SUB-MASTER SUPPLEMENTAL METHODOLOGY ASSESSMENT METHODOLOGY REPORT
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

Introduction

Purpose

This report (the “Series 2025 Bonds Supplemental Methodology”) supplements the Amended Third Sub-Master Supplemental Assessment Methodology Report (“Amended Third Sub-Master Supplemental Methodology”) dated April 17, 2018. The Amended Third Sub-Master Supplemental Methodology refines the debt allocation and apportionment of the Master Assessment Methodology Report dated June 12, 2006 (as amended, the “Master Methodology Report”) to the Maple Ridge neighborhood (“Maple Ridge Neighborhood”) consisting of Maple Ridge at Ave Maria (“Maple Ridge”), Maple Ridge Estates at Maple Ridge (“Maple Ridge Estates”), Coquina at Maple Ridge (“Coquina”) and Silverwood at Maple Ridge (“Silverwood”). The total Maple Ridge Neighborhood including Cadiz at Ave Maria is expected to include 2,479 homesites on 727.26 acres at build out and all are within the Ave Maria Stewardship Community District (“District”). This Series 2025 Bonds Supplemental Methodology also refines the debt allocation and apportionment of the Master Methodology Report to the Cadiz at Ave Maria neighborhood consisting of 63 homesites that are being maintained by the Maple Ridge Homeowners Association and also within the District boundaries. The Cadiz at Ave Maria is platted for 63 homesites.
This Series 2025 Bonds Supplemental Methodology determines the special and peculiar benefits arising from the capital improvement plan (the “Series 2025 Project”) outlined in the Series 2025 Bonds Supplement to the Amended Third Sub-Master Supplemental Engineer’s Report dated March 3, 2025 (“Series 2025 Bonds Supplemental Engineer’s Report”) that flow to the parcels of land within these neighborhoods located within the District. Those benefits are then apportioned peculiar to the property in a manner that is fair and reasonable. Finally, this Series 2025 Bonds Supplemental Methodology determines herein that none of the actual capital improvement assessments being levied exceed the special and peculiar benefits derived from the Series 2025 Project.

The District has issued multiple series of capital improvement revenue bonds in phases to fund the capital improvement plan for the total Maple Ridge Neighborhood.

This Series 2025 Bonds Supplemental Methodology is required to determine the special and peculiar benefits and allocation of debt through a normal process that was fully contemplated under the Master Methodology Report, Chapter 2004-461 Laws of Florida, (the “Act”), and Chapters 170 and 197, Florida Statutes.

Background

The total Maple Ridge and Cadiz at Ave Maria Neighborhoods at buildout, excluding Phases 1 & 2, is expected to include 2,479 units on 727.26 acres, all within the District. Please refer to the infrastructure location maps in the Series 2025 Bonds Supplemental Engineers Report for the location of the Maple Ridge and Cadiz at Ave Maria Neighborhoods.

Table 1 below outlines the amended Maple Ridge development program by product and phase for the Maple Ridge, Maple Ridge Estates, Coquina, Silverwood and Cadiz at Ave Maria neighborhoods. Land development for Maple Ridge Phases 1 & 2 is complete and includes 153 lots on 49.7 acres and are not included in Table 1.

Table 1. The Amended Maple Ridge Development Program

Neighborhood	Acres	45' Homesite	55' Homesite	65' Homesite	90' Homesite	40' Zero Lot Line	Total Units	
Maple Ridge								
Phase 3	82.00		141	79			220	
Phase 4	65.20		131	33			164	
Phase 5	75.40	45	110	71	3		229	
Phase 6	82.70		179	64		2	245	
Phase 7	153.10		30	187	210		427	
Phase 8	67.80	18	100	77			195	
Maple Ridge Estates								
Phase 1	29.70				51		51	
Silverwood at Maple Ridge								
Phase 1a	21.20					40	40	
Phase 1b	13.80					89	89	
Phase 2a	10.10					81	81	
Phase 2b	23.30					102	102	
Phase 3	29.20					142	142	
Phase 4	25.60					148	148	
Coquina at Maple Ridge								
Phase 1	16.9					123	123	
Phase 2	9.9					81	81	
Phase 3	9.6					79	79	
Cadiz at Ave Maria								
	11.76	3				60	63	
Grand Totals	727.26	66	691	511	264	947	2,479	
Source: Developer

This Series 2025 Bonds Supplemental Methodology provides the methodology for allocating and apportioning assessments for the Series 2025 Bonds to the units benefitting from the Series 2025 Project, consisting of 195 units in Maple Ridge Phase 8 and 63 units in Cadiz at Ave Maria (collectively the “Series 2025 Project Area”). The development program for the Series 2025 Project Area issue is shown in Table 2 below.

Table 2. The Series 2025 Bonds Development Program

Neighborhood	Acres	45' Homesite	55' Homesite	65' Homesite	90' Homesite	40' Zero Lot Line	Total Units	
Maple Ridge at Ave Maria								
Phase 8	67.80	18	100	77	0	0	195	
Cadiz at Ave Maria								
	11.76	3	0	0	0	60	63	
Totals	79.56	21	100	77	0	60	258	
Source: Developer

Use of Specific Numbers within the Tables of the Supplemental Methodology

Great diligence has been used to define the components of the Series 2025 Project described in Table 3, the par bond requirements shown in Table 5, and the Par Debt Apportionment shown in Table 6. The Ave Maria SRA Development Program described in the Master Methodology Report, the par value of bonds, and the resultant allocations are subject to change. They are used within this Series 2025 Bonds Supplemental Methodology to illustrate the application of the algorithms and principles as defined in the Master Methodology Report.
Finance Plan
Series 2025 Bonds Capital Improvement Program

As previously stated, the Series 2025 Bonds Supplemental Engineer’s Report identified certain infrastructure that may be constructed or acquired by the District and has provided a cost estimate for the Series 2025 Project to be funded in part by the proceeds of the Series 2025 Bonds. Details of the Series 2025 Project can be found in the Series 2025 Bonds Supplemental Engineer’s Report. It is the intent of the District for the Series 2025 Project to provide certain infrastructure to a portion of the overall Maple Ridge Neighborhood and Cadiz at Ave Maria neighborhood as shown in Table 2. Table 3 on the next page summarizes the Series 2025 Project for the Series 2025 Bonds.

Table 3. Series 2025 Bonds Capital Improvement Program.

Series 2025 Bonds Capital Improvement Plan	
Capital Improvement	Amount	
Drainage/Storm Water Management Improvements	$1,600,837.00	
Roadway Improvements	$2,326,381.00	
Landscaping Improvements	$181,060.00	
Master irrigation System Improvements	$443,664.00	
TOTAL	$4,551,942.00	
Source: Series 2025 Bonds Supplemental Engineer’s Report

For purposes of this Series 2025 Bonds Supplemental Methodology, Real Estate Econometrics, Inc. (“Methodology Consultant”) has consolidated the Series 2025 Project irrigation and landscaping capital improvements with the roadway improvements as the irrigation infrastructure parallels the roadways and the landscaping is also integrated into the roadway design. This consolidation is consistent with the District’s previous sub master supplemental reports. Table 4 below shows the consolidated roadway and drainage/storm water management components of the Series 2025 Project totals in preparation for the apportionment of the debt to the various land uses.

Table 4. Series 2025 Bonds Consolidated Capital Improvement Program.

Consolidated Series 2025 Capital Improvement Plan	
Capital Improvement	Amount	
Drainage/Storm Water Management Improvements	$1,600,837.00	
Roadway, Irrigation, Landscaping Improvements	$2,951,105.00	
TOTAL	$4,551,942.00	
Source: Methodology Consultant

2.3	Bond Requirements

The District will be providing funding for the Series 2025 Project in Phase 8 of Maple Ridge plus the Cadiz neighborhood in Emerson Park by issuing its Capital Improvement Revenue Bonds, Series 2025 (Maple Ridge Phase 6 Project) (the “Series 2025 Bonds”) to finance a portion of the Series 2025 Project. A number of items comprise the final par bond requirements. The source of repayment for the bonds are assessments that will be imposed and levied on specially benefiting properties within Maple Ridge Phase 8 and Cadiz at Ave Maria as determined by this Series 2025 Bonds Supplemental Methodology. The proceeds of the Series 2025 Bonds will provide the funding for the Series 2025 Project, which is a portion of the Ave Maria CIP as detailed in the Series 2025 Bonds Supplemental Engineers Report.

Allowances have been made for capitalized interest, debt service reserve fund, underwriter’s discount, issuance costs, and rounding.

The Series 2025 Bond proceeds will fund interest on the bonds through November 1, 2025. Thereafter, the debt service related to the platted lots will be collected on the assessment roll, beginning with the May 1, 2026 and November 1, 2026 debt service payments, which will be certified for collection in August, 2025.

The debt service reserve fund will initially be funded at 50% of maximum annual debt service (“MADS”).

The proposed Series 2025 Bonds have been sized with an average projected coupon interest rate of 5.82%. Table 5 below illustrates the preliminary bond sizing for the proposed Series 2025 Bonds.

Table 5. Ave Maria Stewardship Community District Financing Inputs and Financing Plan for the Series 2025 Bonds
(Preliminary, Subject to Change)

Financing	
Sources		
Par Amount	$2,245,000.00	
	$2,245,000.00	
Uses		
Construction/Acquisition Fund	$1,920,440.99	
Capitalized Interest Fund	$41,309.01	
Debt Service Reserve Fund @ 50% MADS	$79,875.00	
Underwriter's Discount	$50,000.00	
Cost of Issuance	$153,375.00	
	$2,245,000.00	
Source: MBS Capital Markets, LLC

Assessment Methodology

Structure

The assessment methodology outlined herein is a three-step process. First the District’s engineer determines the costs for the Series 2025 Project. Second, the bond underwriter along with the Methodology Consultant, determines the amount of bonds required to finance a portion of the Series 2025 Project. Third, the Methodology Consultant applies the methodology that apportions the special and peculiar benefits that flow from the Series 2025 Project to land parcels within the Series 2025 Project Area.

To determine these benefits the District engineer first estimates and allocates the costs for all systems and facilities needed to support the Series 2025 Project. Thereafter a portion of the costs for all such improvements are financed with bonds and apportioned to the benefited properties. The Methodology Consultant determines and then apportions fairly and reasonably the special benefits that flow peculiar to the properties.

The assessment methodology outlined herein provides the mechanism by which the costs and debt are allocated and the special and peculiar benefits were determined and apportioned to the assessable acres and platted lands within the District for levy and collection. The District Board of Supervisors will make the final determinations and apportionment and may use this Series 2025 Bonds Supplemental Methodology to make those final determinations.
Assessment Apportionment
The District is undertaking the responsibility of providing all or a portion of the neighborhood public infrastructure to support vertical development within the Ave Maria SRA, the Maple Ridge Neighborhood and Cadiz at Ave Maria neighborhood. As designed, the Ave Maria CIP, including the Series 2025 Project, is an integrated system of improvements that confer special and peculiar benefits to the lands within the District.
The Assessments

The District has allocated and apportioned the costs and debt to the Series 2025 Project Area through this Series 2025 Bonds Supplemental Methodology. The improvements being financed requires an apportionment of the debt being incurred by the construction of the Series 2025 Project. The Series 2025 Project includes improvements to master roadway, irrigation, water management lakes and interconnecting culverts, stormwater/drainage and landscaping improvements. Since all of the improvements being funded by the Series 2025 Bonds are related to the roadway, landscaping, irrigation, drainage and stormwater management construction, the Methodology Consultant used trip generation as the primary measurement for debt apportionment.

In order to apportion the Series 2025 Project costs to the appropriate units, the Methodology Consultant utilized trip generation figures from the Institute of Transportation Engineers (“ITE”) trip generation book as applied to the various land categories being developed within the Series 2025 Project Area receiving special benefit from the Series 2025 Project (the “Series 2025 Assessment Area”) (See Table 2). The ITE rate for a single-family residence is 9.43 trips per day as determined from Land Use Code (210) from the ITE 11th Edition Trip Generation Manual, as updated in 2021. Since all of the units within the Maple Ridge community and the units in Cadiz at Ave Maria are defined as single-family residences, the trip generation figure from the ITE book applies equally to all residential units in both neighborhoods.

The Methodology Consultant then determined the number of units by lot size and multiplied those units by the ITE Daily Trip Rate trips to calculate the total number of trips generated per day by all of the units in the Series 2025 Assessment Area. The total trips generated by lot size were divided by the total number of trips in the neighborhood to obtain a percentage of total trips by lot size and phase. Those percentages were then used to calculate the apportionment of total costs, including the financing costs ascribed to each planned lot. That apportionment was then divided by the number of homesites in each parcel to determine the apportioned assessment per homesite. Table 6 below shows the projected par debt per unit calculation.

Table 6. Par Debt Apportionment.

Maple Ridge	
Lot Size	
Units	Daily Trip
Rate*	Total
Trips	Percent of
Total Trips	Par Debt
Apportionment	Par Debt Per
Unit	
Phase 8	45'	18	9.43	170	6.98%	$156,627.91	$8,701.55	
Phase 8	55'	100	9.43	943	38.76%	$870,155.04	$8,701.55	
Phase 8	65'	77	9.43	726	29.84%	$670,019.38	$8,701.55	
Cadiz at Ave Maria								
	40'	60	9.43	566	23.26%	$522,093.02	$8,701.55	
	45'	3	9.43	28	1.16%	$26,104.65	$8,701.55	
		258		2,433	100.00%	$2,245,000.00	$8,701.55	
* - From Land Use Code (210) from ITE 11th Edition Trip Generation Manual, updated 2021
Source: Methodology Consultant

The annual assessment is calculated using the MADS from the bond pricing numbers ($159,750 in 2052) divided by the number of planned units (258). The annual maximum debt service per unit is $620.00 (Rounded). The Methodology Consultant has determined the gross assessment by including a 4% discount for early payment to the Collier County Tax Collector and the 3.5% collection fee split between the Collier County Tax Collector and the Collier County Property Appraiser. The annual gross assessment is $670.00 per unit as shown in Table 7 below.

Table 7. Annual and Gross Debt Service Assessment.

Maple Ridge	
Lot Size	
Units	Par Debt
Apportionment	Par Debt Per
Unit	Maximum Annual Debt
Service Assessment	Gross
Assessment	
Phase 8	45'	18	$156,627.91	$8,701.55	$620.00	$670.00	
Phase 8	55'	100	$870,155.04	$8,701.55	$620.00	$670.00	
Phase 8	65'	77	$670,019.38	$8,701.55	$620.00	$670.00	
Cadiz at Ave Maria							
	40'	60	$522,093.02	$8,701.55	$620.00	$670.00	
	45'	3	$26,104.65	$8,701.55	$620.00	$670.00	
		258	$2,245,000.00	$8,701.55			
Source: Methodology Consultant

Reasonable and Fair Apportionment of the Special Benefits Peculiar to the Property
A reasonable estimate of the proportion of special and peculiar benefits received from the improvements is expressed in residential units in Table 6.

The determination has been made that the duty to pay the non-ad valorem special assessments and the determined special benefits are fairly and reasonably apportioned and peculiar because the special and peculiar benefits to the property deriving from the acquisition and/or construction of the District’s improvements (and the associated responsibility for the payment of the resultant and allocated debt) have been apportioned peculiar to the property according to reasonable estimates of the special and peculiar benefits provided to property within each land use category.

Accordingly, no acre or parcel of property within the boundary of the District will be assessed for the payment of any non-ad valorem special assessment more than the determined special benefit received peculiar to that property.

The per unit apportionment amounts in Table 6 represent the anticipated per unit debt apportionment assuming all anticipated residential units are built in the proportions planned, and the entire proposed 2025 Project is constructed or acquired and financed by the District.

True-Up Mechanism

Maple Ridge Phase 8 has been platted and Cadiz at Ave Maria has been platted and such plats have been recorded. Therefore, they currently do not require a true-up mechanism. However, a true-up payment may come due if any such areas are replatted in the future.

Clarifications and Amplifications

All assessments levied run with the land. Prior to platting, it is the responsibility of the landowner of record to make or cause to be made any required true up payments due. The District will not release any liens on property for which true up payments are due until provision for such payment has been satisfactorily made.
The owner of record at the time the annual assessment roll is developed will have the responsibility to make the annual assessment payments, but in all cases true up payments must be made to enable the District to meet its debt service obligations.
A determination of a true up payment will be at the sole discretion of the District. Prior to platting, all assessable acreage will be assessed on a per acre basis.

Assessment Roll
As described above, the debt will be apportioned to 195 platted homesites in Phase 8 of Maple Ridge and to 63 platted homesites in Cadiz at Ave Maria.
The following Assessment Rolls contained in Appendix 1 on the next page and Appendix 2 on page 15 shows the apportioned assessments on a per platted homesite for the Series 2025 Bonds.

APPENDIX 1

Maple Ridge Phase 8 will have Series 2025 Bonds debt apportioned to the platted homesites in this roll. The roll includes the Property Identification Number, the Owner, the address and the apportioned par debt per unit.

Cadiz at Ave Maria will also have Series 2025 Bonds debt apportioned to the platted homesites in this roll. The roll includes the Property Identification Number, the Owner, the address and the apportioned par debt per unit.

Maple Ridge Phase 8 Assessment Roll
Lots 1 through 195, Maple Ridge at Ave Maria Phase 8

Lots 1 through 195, Maple Ridge at Ave Maria Phase 8, according to the plat thereof, recorded in Plat Book 75, page 58 through 64 of the public records of Collier County, Florida.

PROPERTY ID
NUMBER	
LOT #	
ADDRESS	
OWNER	
PAR DEBT PER UNIT	GROSS ANNUAL
ASSESSMENT	
56530050147	1	4728 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050163	2	4732 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050189	3	4736 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050202	4	4740 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050228	5	4744 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050244	6	4748 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050260	7	4752 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050286	8	4756 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050309	9	4760 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050325	10	4764 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050341	11	4768 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050367	12	4772 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050383	13	4776 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050406	14	4780 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050422	15	4784 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050448	16	4792 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050464	17	4796 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050480	18	4800 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050503	19	4808 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050529	20	4812 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050545	21	4816 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050561	22	4820 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050587	23	4824 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050600	24	4828 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050626	25	4832 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	

PROPERTY ID
NUMBER	
LOT #	
ADDRESS	
OWNER	
PAR DEBT PER UNIT	GROSS ANNUAL
ASSESSMENT	
56530050642	26	4840 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050668	27	4844 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050684	28	4845 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050707	29	4841 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050723	30	4837 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050749	31	4833 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050765	32	4829 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050781	33	4822 Acero Ave	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050804	34	4818 Acero Ave	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050820	35	4814 Acero Ave	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050846	36	4810 Acero Ave	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050862	37	4806 Acero Ave	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050888	38	4802 Acero Ave	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050901	39	4798 Acero Ave	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050927	40	4794 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050943	41	4790 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050969	42	4786 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050985	43	4782 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051007	44	4778 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051023	45	4774 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051049	46	4770 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051065	47	4766 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051081	48	4762 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051104	49	4758 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051120	50	4754 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051146	51	4750 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051162	52	4746 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051188	53	4742 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051201	54	4738 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051227	55	4734 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051243	56	4730 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051269	57	4726 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051285	58	4722 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051308	59	4553 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051324	60	4557 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051340	61	4561 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051366	62	4565 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051382	63	4569 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051405	64	4573 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051421	65	4577 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051447	66	4581 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051463	67	4585 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	

PROPERTY ID
NUMBER	
LOT #	
ADDRESS	
OWNER	
PAR DEBT PER UNIT	GROSS ANNUAL
ASSESSMENT	
56530051489	68	4589 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051502	69	4593 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051528	70	4597 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051544	71	4601 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051560	72	4605 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051586	73	4609 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051609	74	4613 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051625	75	4617 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051641	76	4621 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051667	77	4625 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051683	78	4629 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051706	79	4633 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051722	80	4637 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051748	81	4641 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051764	82	4645 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051780	83	4649 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051803	84	4653 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051829	85	4657 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051845	86	4661 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051861	87	4665 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051887	88	4669 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051900	89	4673 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051926	90	4681 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051942	91	4685 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051968	92	4689 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051984	93	4693 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052006	94	4697 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052022	95	4701 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052048	96	4705 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052064	97	4709 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052080	98	4713 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052103	99	4717 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052129	100	4721 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052145	101	4725 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052161	102	4729 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052187	103	4733 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052200	104	4737 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052226	105	4727 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052242	106	4731 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052268	107	4735 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052284	108	4739 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052307	109	4743 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052323	110	4747 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	

PROPERTY ID
NUMBER	
LOT #	
ADDRESS	
OWNER	
PAR DEBT PER UNIT	GROSS ANNUAL
ASSESSMENT	
56530052349	111	4751 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052365	112	4759 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052381	113	4763 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052404	114	4767 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052420	115	4775 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052446	116	4781 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052462	117	4785 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052488	118	4789 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052501	119	4793 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052527	120	4797 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052543	121	4801 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052569	122	4805 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052585	123	4809 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052608	124	4813 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052624	125	4803 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052640	126	4799 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052666	127	4791 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052682	128	4783 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052705	129	4779 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052721	130	4775 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052747	131	4771 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052763	132	4763 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052789	133	4776 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052802	134	4772 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052828	135	4768 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052844	136	4764 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052860	137	4760 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052886	138	4756 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052909	139	4752 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052925	140	4748 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052941	141	4744 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052967	142	4740 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530052983	143	4736 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530053005	144	4732 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530053021	145	4728 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530053047	146	4722 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530053063	147	4718 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530053089	148	4714 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530053102	149	4710 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530053128	150	4706 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530053144	151	4702 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00	
56530053160	152	4700 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530053186	153	4704 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	

	PROPERTY ID
NUMBER	
LOT #	
ADDRESS	
OWNER	
PAR DEBT PER UNIT	GROSS ANNUAL
ASSESSMENT		
	56530053209	154	4708 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053225	155	4712 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053241	156	4716 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053267	157	4720 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053283	158	4728 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053306	159	4701 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053322	160	4709 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053348	161	4713 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053364	162	4717 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053380	163	4721 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053403	164	4725 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053429	165	4729 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053445	166	4733 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053461	167	4737 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053487	168	4741 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053500	169	4745 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053526	170	4749 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053542	171	4753 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053568	172	4757 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053584	173	4761 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053607	174	4765 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053623	175	4769 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053649	176	4773 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053665	177	4777 Jolanda ST	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053681	178	4574 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053704	179	4578 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053720	180	4582 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053746	181	4590 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053762	182	4594 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053788	183	4598 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053801	184	4606 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053827	185	4610 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053843	186	4614 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053869	187	4622 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053885	188	4626 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053908	189	4630 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053924	190	4634 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053940	191	4638 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053966	192	4642 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530053982	193	4646 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530054004	194	650 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
	56530054020	195	654 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00		
				TOTAL PAR DEBT:	$1,696802.25			

APPENDIX 2
Cadiz at Ave Maria Assessment Roll
Lots 1 through 63, Cadiz at Ave Maria

Lots 1 through 63, Cadiz at Ave Maria, according to the plat thereof, recorded in Plat Book 48, page 41 through page 47 of the public records of Collier County, Florida.

PROPERTY ID
NUMBER	
LOT #	
ADDRESS	
OWNER	
PAR DEBT PER UNIT	GROSS ANNUAL
ASSESSMENT	
56530050147	1	4728 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050163	2	4732 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050189	3	4736 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050202	4	4740 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050228	5	4744 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050244	6	4748 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050260	7	4752 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050286	8	4756 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050309	9	4760 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050325	10	4764 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050341	11	4768 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050367	12	4772 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050383	13	4776 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050406	14	4780 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050422	15	4784 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050448	16	4792 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050464	17	4796 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050480	18	4800 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050503	19	4808 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050529	20	4812 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050545	21	4816 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050561	22	4820 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050587	23	4824 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050600	24	4828 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050626	25	4832 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050642	26	4840 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050668	27	4844 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050684	28	4845 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050707	29	4841 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050723	30	4837 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050749	31	4833 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050765	32	4829 Gambero Way	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050781	33	4822 Acero Ave	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050804	34	4818 Acero Ave	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050820	35	4814 Acero Ave	CC AVE MARIA LLC	$8,701.55	$670.00	

56530050846	36	4810 Acero Ave	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050862	37	4806 Acero Ave	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050888	38	4802 Acero Ave	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050901	39	4798 Acero Ave	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050927	40	4794 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050943	41	4790 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050969	42	4786 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530050985	43	4782 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051007	44	4778 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051023	45	4774 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051049	46	4770 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051065	47	4766 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051081	48	4762 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051104	49	4758 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051120	50	4754 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051146	51	4750 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051162	52	4746 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051188	53	4742 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051201	54	4738 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051227	55	4734 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051243	56	4730 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051269	57	4726 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051285	58	4722 Quercia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051308	59	4553 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051324	60	4557 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051340	61	4561 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051366	62	4565 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
56530051382	63	4569 Sophia DR	CC AVE MARIA LLC	$8,701.55	$670.00	
			TOTAL PAR DEBT:	$548,197.79		

RESOLUTION 2025-11

A RESOLUTION SETTING FORTH THE SPECIFIC TERMS OF THE DISTRICT’S CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 NEIGHBORHOOD BONDS; CONFIRMING DISTRICT’S PROVISION OF INFRASTRUCTURE IMPROVEMENTS AND ADOPTING AN ENGINEER’S REPORT; CONFIRMING AND ADOPTING A SUPPLEMENTAL ASSESSMENT REPORT; CONFIRMING, ALLOCATING AND AUTHORIZING THE COLLECTION OF SPECIAL ASSESSMENTS SECURING SERIES 2025 NEIGHBORHOOD BONDS; PROVIDING FOR THE APPLICATION OF TRUE-UP PAYMENTS; PROVIDING FOR THE SUPPLEMENT TO THE IMPROVEMENT LIEN BOOK; PROVIDING FOR THE RECORDING OF A NOTICE OF SERIES 2025 SPECIAL ASSESSMENTS; PROVIDING FOR CONFLICTS, SEVERABILITY AND AN EFFECTIVE DATE

WHEREAS, the Ave Maria Stewardship Community District (the “District”) has previously indicated its intention to undertake, install, establish, construct or acquire certain public master infrastructure improvements and to finance such public master infrastructure improvements through the imposition of special assessments on benefitted property within the District and the issuance of bonds; and

WHEREAS, the District’s Board of Supervisors (the “Board”) has previously adopted, after notice and public hearing, Resolution 2006-07, relating to the imposition, levy, collection and enforcement of such special assessments; and
WHEREAS, pursuant to and consistent with the terms of Resolution 2006-07, this Resolution shall set forth the terms of bonds actually issued by the District, and apply the adopted special assessment methodology to the actual scope of the project to be completed with a series of bonds and the terms of the bond issue; and

WHEREAS, on June 20, 2025, the District entered into a Bond Purchase Contract whereby it agreed to sell its $2,245,000 Capital Improvement Revenue Bonds, Series 2025 (Maple Ridge Phase 6 Project) (the “Series 2025 Neighborhood Bonds”); and
WHEREAS, pursuant to and consistent with Resolution 2006-07, the District desires to set forth the particular terms of the sale of the Series 2025 Neighborhood Bonds and confirm the lien of the special assessments securing the Series 2025 Neighborhood Bonds (the “Series 2025 Assessments”).

NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT AS FOLLOWS:

SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted pursuant to the provisions of Florida law, including Chapters 170 and 197, Florida Statutes, and Resolution 2006-07.

SECTION 2. FINDINGS. The Board of Supervisors of the Ave Maria Stewardship Community District hereby finds and determines as follows:

On August 1, 2006, the District, after due notice and public hearing, adopted Resolution 2006-07, which, among other things, equalized, approved, confirmed and levied special assessments on property benefitting from the master infrastructure improvements authorized by the District. That Resolution provided that as each series of bonds was issued to fund all or any portion of the District’s master infrastructure improvements, a supplemental resolution would be adopted to set forth the specific terms of the bonds and certifying the amount of the lien of the special assessments securing any portion of the bonds, including interest, costs of issuance, the number of payments due, the True-Up amounts and the application of receipt of True-Up proceeds.

The Series 2025 Bonds Supplement to the Amended Third Sub-Master Engineer's Report for the Maple Ridge Phase 8 and Cadiz at Ave Maria Developments Contained within the Ave Maria Stewardship Community District dated June 3, 2025, attached to this Resolution as Exhibit A (the “Engineer’s Report”), identifies and describes the presently expected components of the improvements to be financed with the Series 2025 Neighborhood Bonds (the “2025 Improvements”). The District hereby confirms that the 2025 Improvements serve a proper, essential and valid public purpose. The Engineer’s Report is hereby confirmed. The District ratifies its use in connection with the sale of the Series 2025 Neighborhood Bonds.
The Series 2025 Supplement to the Amended Third Sub-Master Supplemental Assessment Methodology Report for a Portion of the Maple Ridge and Cadiz at Ave Maria Neighborhoods within the Ave Maria Stewardship Community District, dated June 23, 2025, attached to this Resolution as Exhibit B (the “Supplemental Assessment Report”), applies the Adopted Master Assessment Methodology for the Ave Maria Stewardship Community District to the 2025 Improvements and the actual terms of the Series 2025 Neighborhood Bonds. The Supplemental Assessment Report is hereby approved, adopted and confirmed. The District ratifies its use in connection with the sale of the Series 2025 Neighborhood Bonds

The 2025 Improvements will specially benefit all of the developable acreage within the Maple Ridge Phase 6 Project of the District, as set forth in the Supplemental Assessment Report. It is reasonable, proper, just and right to assess the portion of the costs of the 2025 Improvements financed with the Series 2025 Neighborhood Bonds to the specially benefited properties within the District as set forth in Resolution 2006-07 and this Resolution.

SECTION 3. CONFIRMATION OF MAXIMUM ASSESSMENT LIEN FOR
SERIES 2025 NEIGHBORHOOD BONDS. As provided in Resolution 2006-07, this Resolution is intended to set forth the terms of the Series 2025 Neighborhood Bonds and the final amount of the lien of the special assessments securing those bonds.

The Series 2025 Neighborhood Bonds, in a par amount of $2,245,000shall bear such rates of interest and maturity as shown on Exhibit C attached hereto. The final payment on the Series 2025 Neighborhood Bonds shall be due on May 1, 2055. The sources and uses of funds of the Series 2025 Neighborhood Bonds shall be as set forth in Exhibit D. The debt service due on the Series 2025 Neighborhood Bonds is set forth on Exhibit E attached hereto. The lien of the special assessments securing the Series 2025 Neighborhood Bonds on all developable land within the Maple Ridge Phase 6 Project located within the District shall be the principal amount due on the Series 2025 Neighborhood Bonds, together with accrued but unpaid interest thereon, and together with the amount by which annual assessments are grossed up to include early payment discounts required by law and costs of collection.

SECTION 4. ALLOCATION OF ASSESSMENTS SECURING SERIES 2025 NEIGHBORHOOD BONDS.

The special assessments for the Series 2025 Neighborhood Bonds shall be allocated in accordance with Exhibit B which allocation shall initially be on a per acre basis and further allocated as lands are platted. The Supplemental Assessment Report is consistent with the District’s Master Assessment Methodology. The Supplemental Assessment Report, considered herein, reflects the actual terms of the issuance of the District’s Series 2025 Neighborhood Bonds. The estimated costs of collection of the special assessments for the Series 2025 Neighborhood Bonds are as set forth in the Supplemental Assessment Report.

The lien of the special assessments securing the Series 2025 Neighborhood Bonds includes all developable land within the Maple Ridge Phase 6 Project of the District, and as such land is ultimately defined and set forth in plats or other designations of developable acreage. To the extent land is added to the District, the District may, by supplemental resolution, determine such land to be benefited by the 2025 Improvements and reallocate the special assessments securing the Series 2025 Neighborhood Bonds and impose special assessments on the newly added and benefited property.
Taking into account capitalized interest and earnings on certain funds and accounts as set forth in the Master Trust Indenture and Fifteenth Supplemental Trust Indenture, the District shall begin annual collection of special assessments for the Series 2025 Neighborhood Bonds debt service payments using the methods available to it by law. Debt service payments and semi- annual installments of interest are reflected on Exhibit E.
The District hereby certifies the special assessments for collection and directs staff to take all actions necessary to meet the time and other deadlines imposed by the County for collection and other Florida law. The District intends, to the extent possible and subject to entering into the appropriate agreements with the Collier County Tax Collector and Collier County Property Appraiser, to collect the Series 2025 Assessments on platted lands using the Uniform Method in Chapter 197, Florida Statutes. The District intends, to the extent possible, to directly bill, collect and enforce the Series 2025 Assessments on unplatted lands. The District Manager shall prepare or cause to be prepared each year a tax roll for purposes of effecting the collection of the special assessments and present same to the District Board as required by law. The District Manager is further directed and authorized to take all actions necessary to collect

any prepayments of debt as and when due and to collect special assessments on unplatted property using methods available to the District authorized by Florida law

SECTION 5. APPLICATION OF TRUE UP PAYMENTS.

Pursuant to the Supplemental Assessment Report, attached hereto as Exhibit B, there may be required from time to time certain “True Up Payments.” As lands are platted or approved the special assessments securing the Series 2025 Neighborhood Bonds shall be allocated to the platted lands and the unplatted lands, if any, as set forth this Resolution and the Supplemental Assessment Report. In furtherance thereof, at such time as parcels or land or lots are platted, or replatted, it shall be an express condition of the lien established by this Resolution that any and all initial plats or site plans of any portion of the lands within the District, as the District’s boundaries may be amended from time to time, shall be presented to the District Manager for review, approval and calculation of the percentage of acres and numbers of units which will be, after the plat, considered to be developed. No further action by the Board of Supervisors shall be required. The District’s review shall be limited solely to this function and the enforcement of the lien established by Resolution 2006-07 and this Resolution. The District Manager shall cause the Special Assessments to be reallocated to the units being platted and the remaining property in accordance with Exhibit B, cause such Reallocation to be recorded in the District’s Improvement Lien Book, and shall perform the true-up calculations described in Exhibit B, which process is incorporated herein as if fully set forth. Any resulting True-Up Payment shall become due and payable that tax year by the landowner(s) of record of the remaining property, in addition to the regular assessment installment payable with respect to the remaining developable acres.
The District will take all necessary steps to ensure that True-Up Payments are made in a timely fashion to ensure its debt service obligations are met. The District shall record all True-Up Payments in its Improvement Lien Book.

The foregoing is based on the unit numbers and types shown in Exhibit B, on the property subject to the Special Assessments. The Supplemental Assessment Report is to provide a formula to ensure that the appropriate ratio of the Special Assessments to developable acres is maintained if less acres are developed. However, no action by the District prohibits or proscribes a maximum amount of development that may occur. In no event shall the District collect Special Assessments pursuant to this Resolution in excess of the total debt service related to the Project, including all costs of financing and interest. The District recognizes that such things as regulatory requirements and market conditions may affect the timing and scope of the development in the District. If the strict application of the True-Up Methodology to any assessment reallocation pursuant to this paragraph would result in Special Assessments collected in excess of the District's total debt service obligation for the Project, the Board shall by resolution take appropriate action to equitably reallocate the Special Assessments. Further, upon the District’s review of the final conveyance for the developable acres, any unallocated Special Assessments shall become due and payable and must be paid prior to the District’s approval of that conveyance.

Based on the final par amount of $2,245,000 in Series 2025 Neighborhood Bonds, the True-Up calculations will be made in accordance with the process set forth in the Supplemental Assessment Report. The District shall apply all True-Up payments related to the Series 2025 Neighborhood Bonds only to the credit of the Series 2025 Neighborhood Bonds. All True-Up payments, as well as all other prepayments of assessments, shall be deposited into the accounts specified in the Fifteenth Supplemental Indenture, dated as of July 1, 2025, governing the Series 2025 Neighborhood Bonds.

SECTION 6. IMPROVEMENT LIEN BOOK. Immediately following the adoption of this Resolution these special assessments as reflected herein shall be recorded by the Secretary of the Board of the District in the District’s Improvement Lien Book. The special assessment or assessments against each respective parcel shall be and shall remain a legal, valid and binding first lien on such parcel until paid and such lien shall be coequal with the lien of all state, county, district, municipal or other governmental taxes and superior in dignity to all other liens, titles, and claims.

SECTION 7. OTHER PROVISIONS REMAIN IN EFFECT. This Resolution is
intended to supplement Resolution 2006-07, which remains in full force and effect. This Resolution and Resolution 2006-07 shall be construed to the maximum extent possible to give full force and effect to the provisions of each resolution. All District resolutions or parts thereof in actual conflict with this Resolution are, to the extent of such conflict, superseded and repealed.

SECTION 8. ASSESSMENT NOTICE. The District’s Secretary is hereby directed to record a Notice of Series 2025 Special Assessments securing the Series 2025 Neighborhood Bonds, which shall include reference to adoption of this Resolution, in the Official Records of Collier County, Florida, or such other instrument evidencing the actions taken by the District.
SECTION 9. SEVERABILITY. If any section or part of a section of this resolution be declared invalid or unconstitutional, the validity, force and effect of any other section or part of a section of this resolution shall not thereby be affected or impaired unless it clearly appears that such other section or part of a section of this resolution is wholly or necessarily dependent upon the section or part of a section so held to be invalid or unconstitutional.

SECTION 10. EFFECTIVE DATE. This Resolution shall become effective upon its adoption.
PASSED in Public Session of the Board of Supervisors of the Ave Maria Stewardship Community District, this 1st day of July, 2025.

ATTEST:	AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

Secretary / Assistant Secretary	Jay Roth, Chairperson

Exhibit A:  Series 2025 Bonds Supplement to the Amended Third Sub-Master Engineer's Report for the Maple Ridge Phase 8 and Cadiz at Ave Maria Developments Contained within the Ave Maria Stewardship Community District dated June 3, 2025
Exhibit B: Series 2025 Supplement to the Amended Third Sub-Master Supplemental Assessment Methodology Report for a Portion of the Maple Ridge and Cadiz at Ave Maria Neighborhoods within the Ave Maria Stewardship Community District, dated June 23, 2025
Exhibit C:   Maturities and Coupon of Series 2025 Neighborhood Bonds
Exhibit D:   Sources and Uses of Funds for Series 2025 Neighborhood Bonds
Exhibit E:   Annual Debt Service Payment Due on Series 2025 Neighborhood Bonds

Exhibit A

Series 2025 Bonds Supplement to the Amended Third Sub-Master Engineer's Report for the Maple Ridge Phase 8 and Cadiz at Ave Maria Developments Contained within the Ave Maria Stewardship Community District dated June 3, 2025

SERIES 2025 BONDS SUPPLEMENT TO THE AMENDED THIRD SUB-MASTER ENGINEER’S REPORT
FOR THE MAPLE RIDGE PHASE 8 AND CADIZ AT AVE MARIA
DEVELOPMENTS CONTAINED WITHIN THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

PREPARED FOR:
BOARD OF SUPERVISORS
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
JAY ROTH
NICK CASALANGUIDA NAOMI ROBERTSON ROBB KLUCIK THOMAS DI FLORIO

ENGINEER:
LJA ENGINEERING, INC.
7400 Trail Blvd., Suite 200
Naples, Florida 34108

JUNE 3, 2025

Page 65

OVERVIEW
This is a Supplemental Engineer's Report (the "Report") prepared by LJA Engineering, Inc. ("LJA"), the engineer (the "District Engineer") for the Ave Maria Stewardship Community District (the "District") relating to the proposed infrastructure projects (collectively referred to as the "Series 2025 Project") for Maple Ridge Phase 8 and Cadiz at Ave Maria consisting of master roadway, irrigation, stormwater/drainage, and landscaping improvements expected to be constructed and/or acquired within the boundaries of the District, which consists of a total of 5,027 acres. All or a portion of the said improvements are planned to be funded through the issuance of a combination of one or more series of short and long-term bonds (the "Series 2025 Bonds") and by contributions effectuated by the CC Ave Maria, LLC and CC Ave Maria Estates, LLC (the "Developer"). The District's anticipated total infrastructure improvements are more fully described in the report entitled "Master Capital Improvement Program for Ave Maria Stewardship Community District", dated May 2, 2006 (the "Master Report"). This Report has been prepared to identify the Series 2025 Project scope of work to be covered by the Series 2025 Bonds, and to present estimated costs and permit status.

 AUTHORIZATION
This Report was prepared at the direction of the District's Board of Supervisors.

PURPOSE
The purpose of this Report is to present the nature, extent and costs of the proposed master roadway, irrigation, water management lakes and interconnecting culverts, stormwater/drainage, and landscaping improvements associated with the Series 2025 Project, including portions of the project's land acquisition costs for the road rights-of- way and water management; and related portions of the professional services and fees, all of which improvements are located within the boundaries of the District, and are a portion of the Ave Maria SRA Improvements described in the Master Report. This Report is intended to be used as a representation of estimated costs of the improvements for financing purposes. Detailed construction plans and/or specifications have been or

will be prepared for the improvements described in this Report. The District Engineer has considered and in certain instances, relied upon, opinions, information and documentation prepared or supplied by others, which may have included public officials, public entities, and engineering professionals.

DEVELOPMENT DESCRIPTION

The Series 2025 Project Area is wholly contained within the boundary of the District. The District is located within part of Sections 21, 22, 27, 28, 29, 30, and 33, and all of
Sections 31 and 32, Township 47 South, Range 29 East; and part of Sections 4, 9, 16,
17, and 18, and all of Sections 5, 6, 7, and 8, Township 48 South, Range 29 East; and part of Sections 1, 12, and 13, Township 48 South, Range 28 East; and all of Section 36, Township 47 South, Range 28 East, Collier County, Florida. The District is currently bounded by Immokalee Road (CR-846) on the north, Camp Keais Road on the east, Oil Well Road (CR-858) on the south, and Camp Keais Strand on the west.

LAND USE
The Series 2025 Project Area consists of approximately 80.23 acres. The table below illustrates the anticipated Series 2025 Project Area land use plan.

Land Use Descriptions	Measurements Units	Total	
Residential:			
Maple Ridge, Phase 8 Single Family Residential	Dwelling Units	195	
Cadiz at Ave Maria Single Family Residential	Dwelling Units	63	
			
TOTAL		258	

INFRASTRUCTURE BENEFIT
The District will provide funding, maintenance and operation of the Series 2025 Project public infrastructure that is provided through its limited, single and specialized purpose. These master public infrastructure improvements include public roadways, stormwater management, irrigation water transmission facilities and landscaping improvements to serve the entire District.

The proposed infrastructure improvements identified in this Report are intended to provide specific comprehensive public services to the Series 2025 Project Area within the boundaries of the Ave Maria SRA. The construction and maintenance of the proposed infrastructure improvements are necessary and will benefit the property for the intended use as a master planned community. The District may construct, acquire, own, and operate all or any portion of the proposed infrastructure. The Developer may construct the infrastructure not constructed by the District subject to determination by the District Engineer that such infrastructure meets or exceeds the construction standards of the District and all applicable governmental requirements and is therefore worthy of acquisition.

INFRASTRUCTURE IMPROVEMENTS
The proposed infrastructure improvements addressed by this Report are public infrastructure elements that will extend basic services to various land uses located within the Series 2025 Project Area which is contained within the boundaries of the District. Exhibit A shows the location of the subject improvements. The infrastructure elements include the cost of stormwater management, public roadways, reclaimed water storage, supplemental wells, pumps and transmission facilities, and landscaping improvements. The costs for engineering/architectural design, inspection, and verification of these elements as well as the anticipated cost for professional service fees and permitting fees have been included.

Detailed descriptions of the proposed infrastructure improvements are provided as follows:

Drainage/Stormwater Management System
The Series 2025 Project stormwater management system improvements consist of a system of lakes, interconnecting pipes, and control structures that provide both stormwater retention and water quality improvements. These improvements will be designed to meet the permit criteria of the South Florida Water Management District ("SFWMD") and Collier County Development Services. Approximately
14.14 acres of water management lakes are expected to be constructed. Refer to Exhibit A for the location of the Series 2025 Project water management facilities.

Roadways
Exhibit A contains maps that show the location of the Series 2025 Project roadway improvements to be acquired or constructed. It is anticipated by this Report that the list of roadways to be acquired or constructed could vary from time to time as continued development takes place within the Series 2025 Project Area. The subject roadway drainage systems, fill material, stabilized subgrade, lime rock base, asphalt surfaces, sidewalks, signing, marking, lighting, irrigation and landscaping will be maintained by the District. The District roadways will be constructed within platted rights-of-way. It is currently estimated that approximately 11.87 acres of roadway rights-of-way will be platted and dedicated to the District for maintenance and operation. It is also anticipated that the District will enter into an agreement with the neighborhood master association for maintenance of those areas, as is done in the other Maple Ridge areas.

1. Landscaping
Landscaping will be provided for the roadways, perimeter berms, lake littoral areas, and community entrances. The landscaping will consist of sod, annual

flowers, shrubs, groundcover, littoral plantings, trees, fencing, walls, fountains, lighting, and irrigation systems.

Master Irrigation System
A Master Irrigation System will be constructed comprised of a transmission/ distribution system which will send reclaimed water to several service areas. The District receives reclaimed water from the Ave Maria Utility Company. The District will distribute the reclaimed water along with supplemental water from ground water wells at a minimum pressure of 45 psi to the Series 2025 Project Area. The Series 2025 Project master irrigation system facilities will be located within the roadway rights-of-way as shown on Exhibit A.

Professional Services and Permitting Fees
Permit review fees may be required by Collier County, SFWMD, FDEP, and any other state or local agencies that impose fees for impact and plan reviews. These fees vary with the magnitude of the impact and size of the Series 2025 Project phases. Additionally, engineering, surveying, and landscape architecture, and facilities and management services are required for the design, permitting, construction inspection, monitoring and verification of constructed quality, certifications, and management and operation of the District improvements. These costs have been included in the various cost categories as shown in Exhibit B.

Summary of Series 2025 Project Costs
Exhibit B reflects the Series 2025 Project Costs.

PERMITS
All conditions of the zoning ordinance and the SRA Development Order are currently being complied with. In addition to the permits received for development of the Ave Maria SRA referenced in the Supplemental Sub-Master Engineer's Report for Ave

Maria Stewardship Community District dated November 30, 2006, Exhibit C lists the permits that have been obtained or will be required for development of the Series 2025 Project. It is our opinion that there are no technical reasons existing at this time which would prohibit the implementation of the plans for the Series 2025 Project as presented herein and that all permits not heretofore issued and which are necessary to affect the improvements described herein will be obtained during the ordinary course of development. Therefore, there are no technical reasons that would prohibit construction of the District's Series 2025 Project that complies with, not inconsistent with, and subject to the local government's comprehensive plan and development standards, and federal, state, and local environmental regulations.

SUMMARY
This Report has been issued to update the District's estimated project costs and the permit status and to define the scope of the Series 2025 Project. The infrastructure improvements as detailed herein are necessary for the functional development of the Series 2025 Project and Series 2025 Project Area within the boundary of the District as required by the District and its charter. The planning and design of the infrastructure is in accordance with current governmental regulatory requirements. The infrastructure will provide the intended function so long as the construction is in substantial compliance with the design and permits and verified by inspections and monitoring reports (confirmed in the final validation) by the District Engineer to the District's Board of Supervisors. The District will need funding to construct or acquire a portion of the improvements included in this Report. In addition to the annual non-ad valorem assessments imposed, levied and to be collected, to pay debt service on the proposed Series 2025 Bonds, the District Engineer recommends that the District collect annual operating and maintenance non-ad valorem assessments to be determined, imposed and levied by the District's Board of Supervisors upon the assessable real property within the District for the purpose of defraying the cost and expenses of maintaining District owned improvements.

It is my professional opinion that the infrastructure costs provided herein for the Series 2025 Project proposed infrastructure improvements are reasonable to complete the construction of or acquire the proposed infrastructure improvements described herein and that these infrastructure improvements are public improvement that will benefit and add value to the land within the District as more fully detailed in the Series 2025 Bonds Supplement to the Amended Third Sub-Master Supplemental Assessment Methodology Report for a Portion of the Maple Ridge Neighborhoods within the Ave Maria Stewardship Community District. The District can fund all such proposed infrastructure and maintenance costs through the exercising of its general and special powers to provide basic public systems and facilities to the property as granted by Section 4, Subsection (8) and (9), Chapter 2004-461, Laws of Florida.

The estimate of infrastructure construction costs is only an estimate and not a guarantee of maximum price. A portion of the costs are based on actual construction bids. Where necessary, historical costs, information from other professional or utility consultants and contractors have been used in preparation of this Report. Consultants and contractors who have contributed to providing the cost data included in this Report are reputable entities within the area. It is therefore our opinion that the construction of the proposed infrastructure can be completed at the costs as stated.

The labor market, future costs of equipment and materials, increased regulatory actions and the actual construction process are all beyond control. Due to this inherent opportunity for fluctuation in cost, the total final cost may be more or less than this estimate.

This item has been digitally signed and sealed by Edward F. Tryka III, P.E. using a Digital Signature

Edward F Tryka III 2025.06.11 09:04:22-04'00'

Printed Copies of this document are not considered signed and sealed and the signature must be verified on any electronic copies.

BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
Edward F. Tryka III, P.E. District Engineer
State of Florida Registration No. 60284

APPENDIX

Exhibit A - Infrastructure Location Maps
Exhibit B - Opinion of Probable Costs

Exhibit C - Permit Status

IDENTIFICATION

DESCRIPTION PROJECT AREA IRRIGATION ROADWAY TRACT LAKE TRACT

LF

Ac. ±

68.16

7,955

9.67

14.14

0	200'	400'

8585

8844

8383

8282

69
70
71
72
73
74
75
76
77
78
79
8080
81

68	67

66  65

64  63  62

61  60

59

36+96

SCALE: 1" = 400'

1155++0000  155+58

8686

5858

8787

8888

2200++0000	2211++0000

119955

119944

193

119922

11991

119900

118899

118888

118877

118866

118855

118844

118833

118822

11881

118800

117799

117788

1144++0000

5757

5656

5555

1122++0000	1133++0000

8989

9090

AA

115599

116600

11661

116622

163

116644

116655

116666

116677

116688

169

117700

11771

117722

117733

117744

117755

117766

117777

1155++0000

1155++4422

5454

5353

52

991

551

1111++0000

9292

93

9944

1515

115500

114499

114488

147

114466

114455

114444

114433

14242

11441

114400

113399

113388

113377

1363

113355

113344

113322

113333

5050

4499

1100++0000

4488

4477

9595

11331

4466
115522

9696

113300
4545

115533

88++0000

9797

9898

115454

112299

4444

9999

115555

77++0000

4433

112288

110000
115566

4422

11001

115577	112277

441

110022

115588

4400
112266

110033

3939

110044

110055

1060

110077

110088

110099

111100

11111

111122

111133

111144

111155

111166

111177

111188

111199

112200

11221

112222

112255

3838

55++0000

112233

112244
3737

1100++0000

99++0000

44++0000

3636
1

22
33
4
55

66

77
88
99	1010

111

1212

1313

1144

1515

1616

1717

1818

1919

3535

Page 74

2020

3344
221

2222

3333

2323

3232

2424

331

2525

3030

2626
2929

22+33

22+00

27	28

WAY

EXHIBIT A MAPLE RIDGE PHASE 8

IDENTIFICATION

DESCRIPTION PROJECT AREA IRRIGATION ROADWAY TRACT

LF

Ac. ±

1,805

12.07

0	100'	200'

SCALE: 1" = 200'

2.20

Page 75

LEXINGTON ST.

EXHIBIT A CADIZ AT AVE MARIA

EXHIBIT B
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT AMENDED THIRD SUB-MASTER SUPPLEMENTAL ENGINEER'S REPORT
SERIES 2025 PROJECT
ESTIMATED DEVELOPER FEES, PROFESSIONAL SERVICES FEES, PERMITTING FEES, AND CONSTRUCTION COSTS

06/03/2025

A.  MAPLE RIDGE PHASE 8		
Drainage/Stormwater Management Improvements	$1,086,240.00	
Roadway Improvements	$1,192,985.00	
Landscaping Improvements	$139,920.00	
Master Irrigation System Improvements	$367,705.00	
SUBTOTAL	$2,786,850.00	

B.  CADIZ AT AVE MARIA		
Drainage/Stormwater Management Improvements	$514,597.00	
Roadway Improvements	$1,133,396.00	
Landscaping Improvements	$41,140.00	
Master Irrigation System Improvements	$75,959.00	
SUBTOTAL	$1,765,092.00	
TOTAL	$4,551,942.00	

EXHIBIT C PERMIT STATUS

Series 2025 Project - Permit Summary	
	
Agency	
Permit Type	
Application Number	
Status/Issue Date	

Maple Ridge Phase 8	
	
SFWMD	Environmental Resource Permit (ERP)	11-02336-P (Application 170831-6)	
3/1/2018	
	
SFWMD	
Master Dewatering Permit	11-02317-W
(Application 201106-8)	
11/30/2020	
	
FDEP	Construction of Wastewater Collection System	
0249396-091-DWC	
6/9/2023	
	
FDEP	Construction of Water Main Extension	
0353996-031-DSGP	
6/23/2023	
	
Collier County	
Plans and Plat (PPL)	
PL20220000232	
9/12/2023	
	
Collier County	
Early Work Authorization (EWA)	
PL 20220008822	
7/5/2023	
	
Collier County	Insubstantial changes to Construction Plans (ICP)	
PL20230018271	
1/2/2024	
	
Collier County	
Construction Plan Phasing (CPP)	
PL20240006467	
6/24/2024	
	
Collier County	Plat Recording (O.R. Book 75, Pg 58-64)	
PL20240010723	
10/17/2024	
	Ave Maria Utility Company (AMUC)	
Utility Construction Permit	
AMUC No. 007-21	
3/28/2023	

	Agency	Permit Type	Application Number	Status/Issue Date	

Series 2025 Project - Permit Summary	

Cadiz at Ave Maria	
	
SFWMD	Environmental Resource Permit (ERP)	11-110794-P
(Application App
240412-43323)	
9/9/2024	
	
SFWMD	
Master Dewatering Permit	11-02317-W
(Application 240702-2)	
9/9/2024	
	
FDEP	Construction of Wastewater Collection System	
249396-100-DWC/CG	
1/13/2025	
	
FDEP	Construction of Water Main Extension	
0353996-040	
12/20/2024	
	
FDEP	
State 404	
443563-001	
1/19/2024	
	
Collier County	
Early Work Authorization (EWA)	
PL20240011642	
2/26/2025	
	
Collier County	Insubstantial changes to Construction Plans (ICP)	
PL20240011625	
2/12/2025	
	
Collier County	
Final Plat (FP)	
PL20240011531	Administrative Approval; awaiting official letter	
	
Collier County	
Well Abandonment	
PRWL20240415701	
7/4/2024	
	Ave Maria Utility Company (AMUC)	
Utility Construction Permit	
AMUC No. 001-24	
12/20/2024	

Exhibit B

Series 2025 Supplement to the Amended Third Sub-Master Supplemental Assessment Methodology Report for a Portion of the Maple Ridge and Cadiz at Ave Maria Neighborhoods within the Ave Maria Stewardship Community District, dated June 23, 2025

Exhibit C

Maturities and Coupon of Series 2025 Neighborhood Bonds

Exhibit D

Sources and Uses of Funds for Series 2025 Neighborhood Bonds

Exhibit E

Annual Debt Service Payment Due on Series 2025 Neighborhood Bonds

This instrument prepared by and upon recording return to:

Ave Maria Stewardship Community District c/o Special District Services
2501 A Burns Road
Palm Beach Gardens, Florida 33410

This space reserved for use by the Clerk of the Circuit Court

SUPPLEMENTAL DISCLOSURE OF PUBLIC FINANCING AND MAINTENANCE OF IMPROVEMENTS TO REAL PROPERTY UNDERTAKEN BY
THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT [SERIES 2025 (MAPLE RIDGE PHASE 6 PROJECT)]

Board of Supervisors and Officers1

Jay Roth Chairman

Thomas DiFlorio Vice Chairman

Nick Casalanguida Board Member

Rob Klucik Board Member

Naomi Robertson Board Member
Special District Services District Manager
The Oaks Center, 2501A Burns Road Palm Beach Gardens, Florida 33410
(561) 630-4922

District records are on file at the offices of the District Manager and at the local records office 2600 Golden Gate Parkway, Naples, Florida 34105, and are available for public inspection upon request during normal business hours.

1	This list reflects the composition of the Board of Supervisors and Officers as of July 1, 2025. For a current list, please contact the District Manager or visit avemariastewardshipcd.org.

TABLE       OF       CONTENTS Introduction	1
What is the District and how is it governed?	1
What infrastructure improvements does the District provide and how are the improvements paid for?	2
Assessments, Fees, and Charges	5
Method of Collection	9

Introduction

On behalf of the Board of Supervisors of the Ave Maria Stewardship Community District (the “District”), the following information is provided to give you a description of the District's services and the assessments that are anticipated to be levied within the District to pay for certain community infrastructure, and the manner in which the District is operated. The District is a unit of special-purpose local government created pursuant to and existing under the provisions of Chapter 2004-461, Laws of Florida, as amended. Unlike city and county governments, the District has only certain limited powers and responsibilities. These powers and responsibilities include, for example, construction and/or acquisition, as well maintenance, of roadways, stormwater management, reclaimed water transmission facilities and landscaping improvements, and other related public infrastructure.

Under Florida law, special districts are required to take affirmative steps to provide for the full disclosure of information relating to the public financing and maintenance of improvements to real property undertaken by such districts. The law specifically provides that this information shall be made available to all persons currently residing within the District and to all prospective District residents. The following information describing the Ave Maria Stewardship Community District and the assessments, fees and charges that are anticipated to be levied within the District to pay for certain community infrastructure is provided to fulfill this statutory requirement.

What is the District and how is it governed?
The District is an independent special taxing district created pursuant to and existing under the provisions of Chapter 2004-461, Laws of Florida, enacted on June 17, 2004, as amended. The District currently encompasses approximately 11,806 acres of land located within the jurisdictional boundaries of Collier County, Florida. As a local unit of special-purpose government, the District provides an alternative means for planning, financing, constructing, operating and maintaining various public improvements and community facilities within its jurisdiction.
The District is governed by a five-member Board of Supervisors, the members of which must be residents of Florida and citizens of the United States. Initially, members were elected on an at-large basis by the owners of property within the District, each landowner being entitled to one vote for each acre of land with fractions thereof rounded upward to the nearest whole number. The two candidates receiving the highest number of votes were elected to terms which expired in November 2006, and the three candidates receiving the next largest amount of votes were elected to terms which expired in November 2008. Thereafter, there shall be an election by landowners for the District every two years in November on a date established and noticed by the Board. The Board called for a referendum on the question of whether certain members of the Board should be elected by qualified electors, which was approved. A "qualified elector" in this instance is any person at least 18 years of age who is a citizen of the United States, a legal resident of Florida and of the District, and who is also registered with the Supervisor of Elections to vote in Collier County. The Board has approved maps of the District describing and locating the urban areas within the District (the “Map”). The Map is used to determine the number of
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Supervisors to be elected by the qualified electors. The Map is to be updated every five years, or sooner at the discretion of the Board. Currently, the District is between 25% and 50% urban, and two Supervisors were elected by qualified electors in November 2024 and the remaining three Supervisors were elected on a one-acre, one-vote principal. When the urban areas are at least 50%, but less than 70% of the District, three Supervisors will be elected by qualified electors and the remaining two Supervisors will be elected on a one-acre, one-vote principal. When urban areas constitute at least 70%, but less than 90% of the District, four Supervisors will be elected by qualified electors and the remaining Supervisor will be elected on a one-acre, one-vote principal. When urban areas are at least 90% of the District, all five Supervisors will be elected by qualified electors. Notwithstanding the foregoing, if at any time the Board proposes to exercise its ad valorem taxing power, it shall, prior to the exercise of such power, call an election at which all members of the Board shall be elected by qualified electors of the District.

Board meetings are noticed in the local newspaper and are conducted in a public forum in which public participation is permitted. Consistent with Florida's public records laws, the records of the District are available for public inspection during normal business hours. Elected members of the Board are similarly bound by the State's open meetings law and are subject to the same disclosure requirements as other elected officials under the State's ethics laws.

What infrastructure improvements does the District provide and how are the improvements paid for?

The boundaries of the District encompass approximately 11,806 acres of land located in Collier County. The legal description of the land encompassed within the District is attached hereto as Exhibit A. The public infrastructure necessary to support the District’s development program includes, but is not limited to, the following: drainage and stormwater management system, roadways, a master irrigation system, landscaping, mitigation and restoration, land acquisition and public facilities. The District’s master infrastructure improvement plan is described in the Disclosure of Public Financing and Maintenance of Improvements to Real Property Undertaken by the Ave Maria Stewardship Community District, which has been previously recorded in Book 5164, Page 551 of the Official Records of Collier County (the “Master Disclosure”), as well as the District’s Engineer’s Reports on file in the District’s public records. These improvements have been or will be funded by the District’s sale of special assessment bonds (discussed below).
On December 1, 2006, the District issued $26,245,000 Ave Maria Stewardship Community District Capital Improvement Revenue, Series 2006A (the “Series 2006A Bonds”) and $26,220,000 Ave Maria Stewardship Community District Bond Anticipation Notes, Series 2006 (the “Series 2006 BANs” together the “2006 Bonds”) for the purpose of: (1) financing a portion of the costs associated with the acquisition, construction, installation and equipping certain infrastructure improvements described in the Master Disclosure; (2) paying certain costs associated with the issuance of the 2006 Bonds; (3) making a deposit into the Reserve Account for the benefit of all of the 2006 Bonds and (4) paying a portion of the interest to become due on the 2006 Bonds.

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On June 7, 2012, the District issued $29,100,000 Ave Maria Stewardship Community District Capital Improvement Revenue Refunding Bonds, Series 2012 (the “Series 2012 Bonds”) for the purpose of: (1) refunding and redeem all of the outstanding original aggregate principal amount of Series 2006 BANs; (2) paying certain costs associated with the issuance of the Series 2012 Bonds and (3) making a deposit into the 2012 Reserve Account for the benefit of all of the 2012 Bonds.

On March 5, 2015, the District issued $2,530,000 Ave Maria Stewardship Community District Capital Improvement Revenue, Series 2015 (the “Series 2015 Bonds”) for the purpose of: (1) financing a portion of the costs associated with the acquisition, construction, installation and equipping certain infrastructure improvements described below; (2) paying certain costs associated with the issuance of the Series 2015 Bonds; (3) making a deposit into the Reserve Account for the benefit of all of the Series 2015 Bonds and (4) paying a portion of the interest to become due on the Series 2015 Bonds.

On November 2, 2016, the District issued $11,085,000.00 Ave Maria Stewardship Community District Bond Anticipation Notes, Series 2016 (Phase 3 Master Improvements Project) (the “Series 2016 BANs”) for the purpose of: (1) financing a portion of the costs associated with the acquisition, construction, installation and equipping certain infrastructure improvements comprising the Phase 3 Master Improvements Project; (2) paying certain costs associated with the issuance of the Series 2016 BANs; (3) making a deposit into the Reserve Account for the benefit of all of the Series 2016 BANs and (4) paying a portion of the interest to become due on the Series 2016 BANs.

Also on November 2, 2016, the District issued $3,390,000 Ave Maria Stewardship Community District Capital Improvement Revenue Bonds, Series 2016 (Maple Ridge Phase 2 Project) (the “Series 2016 Bonds”) for the purpose of: (1) financing a portion of the costs associated with the acquisition, construction, installation and equipping certain infrastructure improvements described below; (2) paying certain costs associated with the issuance of the Series 2016 Bonds; (3) making a deposit into the Reserve Account for the benefit of all of the Series 2016 Bonds and (4) paying a portion of the interest to become due on the Series 2016 Bonds.
On June 7, 2018, the District issued $4,000,000 Ave Maria Stewardship Community District Capital Improvement Revenue Bonds, Series 2018 (Maple Ridge Phase 3 Project) (the “Series 2018 Bonds”) for the purpose of: (1) financing a portion of the costs associated with the acquisition, construction, installation and equipping certain infrastructure improvements described below; (2) paying certain costs associated with the issuance of the Series 2018 Bonds;
(3) making a deposit into the Reserve Account for the benefit of all of the Series 2018 Bonds and
(4) paying a portion of the interest to become due on the Series 2018 Bonds.

On June 27, 2019, the District issued $20,310,000 Ave Maria Stewardship Community District Capital Improvement Revenue Refunding Bonds, Series 2019 (the “Series 2019 Bonds”) for the purpose of: (1) refunding and redeeming all of the outstanding Series 2006A Bonds; (2) paying certain costs associated with the issuance of the Series 2019 Bonds and (3) making a deposit into the 2019 Reserve Account for the benefit of all of the 2019 Bonds.
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On July 16, 2020, the District issued $3,400,000 Ave Maria Stewardship Community District Capital Improvement Revenue Bonds, Series 2020 (Maple Ridge Phase 4 Project) (Bank Qualified) (the “Series 2020 Bonds”) for the purpose of: (1) financing a portion of the costs associated with the acquisition, construction, installation and equipping certain infrastructure improvements described below; (2) paying certain costs associated with the issuance of the Series 2020 Bonds; (3) making a deposit into the Reserve Account for the benefit of all of the Series 2020 Bonds and (4) paying a portion of the interest to become due on the Series 2020 Bonds.

On March 4, 2021, the District issued $11,340,000 Ave Maria Stewardship Community District Capital Improvement Revenue Bonds, Series 2021 (Ave Maria National Project) (the “Series 2021 Ave Maria National Bonds”) for the purpose of: (1) financing a portion of the costs associated with the acquisition, construction, installation and equipping certain infrastructure improvements described below; (2) paying certain costs associated with the issuance of the Series 2021 Ave Maria National Bonds; (3) making a deposit into the Reserve Account for the benefit of all of the Series 2021 Ave Maria National Bonds and (4) paying a portion of the interest to become due on the Series 2021 Ave Maria National Bonds.

On August 19, 2021, the District issued $16,640,000 Ave Maria Stewardship Community District Bond Anticipation Notes, Series 2021 (Phase 4 Master Improvements Project) (the “Series 2021 BANs”) for the purpose of: (1) financing a portion of the costs associated with the acquisition, construction, installation and equipping certain infrastructure improvements comprising the Phase 4 Master Improvements Project; (2) paying certain costs associated with the issuance of the Series 2021 BANs; (3) making a deposit into the Reserve Account for the benefit of all of the Series 2021 BANs and (4) paying a portion of the interest to become due on the Series 2021 BANs.
On August 19, 2021, the District issued $11,610,000 Ave Maria Stewardship Community District Capital Improvement Revenue Bonds, Series 2021 (Phase 3 Master Improvements Project) (the “Series 2021 Master Bonds”) for the purpose of: (1) redeeming all of the outstanding Series 2016 BANs described above; (2) paying certain costs associated with the issuance of the Series 2021 Master Bonds; (3) making a deposit into the Reserve Account for the benefit of all of the Series 2021 Master Bonds and (4) paying a portion of the interest to become due on the Series 2021 Master Bonds.

On February 3, 2022, the District issued $7,775,000 Ave Maria Stewardship Community District Capital Improvement Revenue Bonds, Series 2022 (Maple Ridge Phase 5 Project) (the “Series 2022 Bonds”) for the purpose of: (1) financing a portion of the costs associated with the acquisition, construction, installation and equipping certain infrastructure improvements described below; (2) paying certain costs associated with the issuance of the Series 2022 Bonds;
(3) making a deposit into the Reserve Account for the benefit of all of the Series 2022 Bonds and
(4) paying a portion of the interest to become due on the Series 2022 Bonds.

On February 3, 2022, the District issued $22,950,000 Ave Maria Stewardship Community District Capital Improvement Revenue Refunding Bonds, Series 2022A (the “Series
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2022A Bonds”) for the purpose of: (1) refunding and redeeming all of the outstanding Series 2012 Bonds; (2) paying certain costs associated with the issuance of the Series 2022A Bonds and
(3) making a deposit into the 2022A Reserve Account for the benefit of all of the 2022A Bonds.

On August 3, 2023, the District issued $19,150,000 Ave Maria Stewardship Community District Capital Improvement Revenue Bonds, Series 2023 (Phase 4 Master Improvements Project) (the “Series 2023 Bonds”) for the purpose of: (1) redeeming all of the outstanding Series 2021 BANs described above; (2) financing a portion of the costs associated with the acquisition, construction, installation and equipping certain infrastructure comprising the remaining Phase 4 Master Improvements Project; (3) paying certain costs associated with the issuance of the Series 2023 Bonds; (4) making a deposit into the Reserve Account for the benefit of all of the Series 2023 Bonds and (5) paying a portion of the interest to become due on the Series 2023 Bonds.

On July 3, 2025, the District issued $2,245,000 Ave Maria Stewardship Community District Capital Improvement Revenue Bonds, Series 2025 (Maple Ridge Phase 6 Project) (the “Series 2025 Neighborhood Bonds”) for the purpose of: (1) financing a portion of the costs associated with the acquisition, construction, installation and equipping certain infrastructure improvements described below; (2) paying certain costs associated with the issuance of the Series 2025 Neighborhood Bonds; (3) making a deposit into the Reserve Account for the benefit of all of the Series 2025 Neighborhood Bonds and (4) paying a portion of the interest to become due on the Series 2025 Neighborhood Bonds

Assessments, Fees, and Charges
The costs of acquisition or construction of a portion of the District’s infrastructure improvements have been financed by the District through the sale of its Series 2012 Bonds, Series 2015 Bonds, Series 2016 BANs, Series 2016 Bonds, Series 2018 Bonds, Series 2019 Bonds, Series 2020 Bonds, Series 2021 Ave Maria National Bonds, Series 2021 BANs, Series 2021 Bonds, Series 2022 Bonds, Series 2022A Bonds and Series 2023 Bonds. The Series 2022A Bonds refinanced and refund the Series 2012 Bonds, resulting in a reduction in the special assessment amounts for those units. The annual debt service payments, including interest due thereon, are payable solely from and secured by the levy of non-ad valorem or special assessments against lands within the District which benefit from the construction, acquisition, establishment and operation of the District’s improvements. The annual debt service obligations of the District which must be defrayed by annual assessments upon each parcel of land or platted lot will depend upon the type of property purchased. Depending on your location, you may be subject to any of the assessments listed below. Interested persons are encouraged to contact the District Manager for information regarding special assessments on a particular lot or parcel of lands. A copy of the District’s assessment methodology and assessment roll are available for review in the District’s public records.
The current maximum annual debt assessments for the Series 2015 Bonds per unit are as follows:

Series 2015 Maximum Annual Assessment Level Per Unit

Product Type

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Maple Ridge Phase 3 – 55’	$449.69	
Maple Ridge Phase 3 – 65’	$449.69	
Estate Lots Phase 1 – 90’	$449.69	
Coquina at Maple Ridge Phase 1 – 0’	$449.69	

The current maximum annual debt assessments for the Series 2016 Bonds per unit are as follows:

Product Type	Series 2016 Bonds Maximum Annual Assessment Level Per Unit	
Maple Ridge Phase 4 – 55’	$673.19	
Maple Ridge Phase 4 – 65’	$673.19	
Estate Lots Phase 2 – 90’	$673.19	
Coquina at Maple Ridge Phases 2 & 3 – 0’	$673.19	

The current maximum annual debt assessments for the Series 2018 Bonds per unit are as follows:

Product Type	Series 2018 Bonds Maximum Annual Assessment Level Per Unit	
Maple Ridge Model Homes - 90’	$667.45	
Maple Ridge Phase 5A – 55’	$667.45	
Maple Ridge Phase 5A – 65’	$667.45	
Maple Ridge Phase 5B – 45’	$667.45	
Maple Ridge Phase 6A – 55’	$667.45	
Maple Ridge Phase 6A – 65’	$667.45	
Maple Ridge Phase 6A – zero lot line	$667.45	
Silverwood Phase 1B – zero lot line	$667.45	
Silverwood Phase 2A – zero lot line	$667.45	

Provided below are the current maximum annual assessment levels for the Series 2019
Bonds:

Product Type	Series 2019 Bonds Maximum Annual Assessment Level Per Unit	
Multi-Family	$403	
Single-Family	$775	

The current maximum annual debt assessments for the Series 2020 Bonds per unit within the Maple Ridge Phase 4 Project are as follows:

Product Type	Series 2020 Bonds Maximum	
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	Annual Assessment Level Per Unit	
Maple Ridge Phase 6B – 55’	$670.00	
Maple Ridge Phase 6B – 65’	$670.00	
Maple Ridge Phase 6C – 65’	$670.00	
Silverwood Phase 2B – 40’ zero lot line	$670.00	

The current maximum annual debt assessments for the Series 2021 Ave Maria National Bonds per unit within the Ave Maria National Project are as follows:

Product Type	Series 2021 Ave Maria National Bonds Maximum Annual Assessment Level Per Unit	
50’SF	$667.00	
70’ SF	$667.00	
Coach	$530.29	
12 Unit Veranda	$530.29	
16 Unit Veranda	$455.46	
30 Unit Veranda	$455.46	

The current maximum annual debt assessments for the Series 2021 Master Bonds per platted unit within Phase 3 Master Improvements Project assessment area are as follows:

Unit Type	Series 2021 Master Bonds Maximum Annual Assessment Level Per Unit	
Multi Family	$449.15	
Single Family	$832.25	
Note: The maximum annual assessments level amounts have been grossed up to include collection costs from Collier County and a maximum discount for early payment as authorized by law. Further, until fully assigned to platted lots, a portion of the Assessments securing repayment of the 2012 Bonds, 2020 Bonds, 2021 Notes and 2021 Master Bonds are secured from the same unplatted land described in Exhibit A. The 2019 Bonds were allocated to the first 2,000 units within the District. The 2012 Bonds are estimated to be allocated to the next 2,092 units within the District on a first platted, first assigned basis. The Series 2021 Master Bonds will be allocated to the 1,024 units following the previous 4,092 assessable units on a first platted, first assigned basis.

The current maximum annual debt assessments for the Series 2022 Bonds per unit within the Maple Ridge Phase 5 Project are as follows:

Product Type	Series 2022 Bonds Maximum Annual Assessment Level Per Unit	
Maple Ridge Phase 7A	$670.00	
Maple Ridge Phase 7B	$670.00	
Silverwood Phase 3	$670.00	
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Silverwood Phase 4	$670.00	

The current maximum annual debt assessments for the Series 2022A Bonds per unit are as follows:

Product Type	Series 2022A Bonds Maximum Annual Assessment Level Per Unit	
Multi-Family	$495	
Single Family	$951	

The current maximum annual debt assessments for the Series 2023 Bonds per unit within the Phase 4 Master Improvements Project are as follows:

Product Type	Series 2023 Bonds Maximum Annual Assessment Level Per Unit	
Multi-Family	$532.19	
Single Family	$1,023.45	

The current maximum annual debt assessments for the Series 2025 Neighborhood Bonds per unit within the Maple Ridge Phase 6 Project are as follows:

Product Type	Series 2025 Neighborhood Bonds Maximum Annual Assessment Level Per Unit	
Maple Ridge Phase 8 single family	$670.00	
Cadiz at Ave Maria single family	$670.00	

Note: The maximum annual assessments level amounts have been grossed up to include collection costs from Collier County and a maximum discount for early payment as authorized by law.

The District may undertake the construction, acquisition, or installation of other future improvements and facilities, which may be financed by bonds, notes, or other methods authorized by 2004-461, Laws of Florida, as amended. More information can be obtained from the improvement plan, as revised and supplemented, on file with the District.

The amounts described above exclude any operations and maintenance assessments which may be determined and calculated annually by the District’s Board of Supervisors against all benefited lands in the District. These assessments will also be collected in the same manner as county ad valorem taxes.

A detailed description of all costs and allocations which result in the formulation of assessments, fees and charges are available for public inspection upon request.

Method of Collection
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The District's special and maintenance assessments may appear on that portion of the annual real estate tax bill entitled "non-ad valorem assessments," and will be collected by the county tax collector in the same manner as county ad valorem taxes. Each property owner must pay both ad valorem and non-ad valorem assessments at the same time. Property owners will, however, be entitled to the same discounts as provided for ad valorem taxes. As with any tax bill, if all taxes and assessments due are not paid within the prescribed time limit, the tax collector is required to sell tax certificates which, if not timely redeemed, may result in the loss of title to the property.

This description of the Ave Maria Stewardship Community District's operation, services and financing structure is intended to provide assistance to landowners and purchasers concerning the important role that the District plays in providing infrastructure improvements essential to the development of new communities. If you have questions or would simply like additional information about the District, please write to Special District Services, The Oaks Center, 2501A Burns Road, Palm Beach Gardens, Florida 33410, or call (561) 630-4922.

[Remainder of Page Intentionally Blank]

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IN WITNESS WHEREOF, this Supplemental Disclosure of Public Financing and Maintenance of Improvements to Real Property Undertaken has been executed as of the     day of July, 2025, and recorded in the Official Records of Collier County, Florida.

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

By:		 Jay Roth, Chairman

Witness	Witness

Print Name	Print Name

Address: 		Address: 	

STATE OF FLORIDA
COUNTY OF 	
The foregoing instrument was acknowledged before me by means of ▢ physical presence or ▢ online notarization, this     day of July, 2025, by Jay Roth, as Chairman of the of the Ave Maria Stewardship Community District, for and on behalf of the District. He [ ] is personally known to me or [  ] produced 	 as identification.

Exhibit A: Legal Description

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Exhibit A

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Stewardship Community District

MEMORANDUM

To:	Board of Supervisors
From: Allyson Holland, P.E., District Manager
Date: June 24, 2025
Board Meeting Date:	July 1, 2025

SUBJECT

Discuss Ave Maria Veterans Association Pavilion.

STAFF RECOMMENDATION

Staff recommends the Board of Supervisors discuss the proposed Ave Maria Veterans Association Pavilion.

GENERAL INFORMATION
Earlier this month, the Ave Maria Veterans Association contacted Ave Maria Development regarding constructing a pavilion on the District’s property that is leased (via executed License Agreement) by the Ave Maria Veterans Association. Supervisor Casalanguida contacted the District Manager and asked that this item be added to a Board Meeting agenda for discussion by the Board of Supervisors. The Conceptual Layout for the Ave Maria Veterans Memorial did not include a pavilion. The District Manager and Legal Counsel will be prepared to answer questions from the Board. The Veterans Association has been invited to speak at the Board meeting regarding this request.
PROCUREMENT REVIEW
Not applicable.
DISTRICT ENGINEER REVIEW

Not applicable.

DISTRICT LEGAL COUNSEL REVIEW

Not applicable.

FUNDING REVIEW
Not applicable.

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Ave Maria Stewardship Community District
Budget vs. Actual
October 2024 through May 2025

	Oct '24 - May 25		24/25 Budget		$ Over Budget		% of Budget	
Expenditures								
01-1130	Payroll Tax Expense	321.30		734.00		-412.70		43.77%	
01-1131	Supervisor Fees	4,200.00		9,600.00		-5,400.00		43.75%	
01-1310	Engineering	44,524.35		90,000.00		-45,475.65		49.47%	
01-1311	Management Fees	46,666.64		70,000.00		-23,333.36		66.67%	
01-1313	Website Management	1,666.64		2,500.00		-833.36		66.67%	
01-1314	District Manager - on site	186,666.64		280,000.00		-93,333.36		66.67%	
01-1315	Legal Fees	50,002.40		100,000.00		-49,997.60		50.0%	
01-1320	Audit Fees	2,000.00		18,300.00		-16,300.00		10.93%	
01-1330	Arbitrage Rebate Fee	2,600.00		3,900.00		-1,300.00		66.67%	
01-1440	Rents & Leases	0.00		1,000.00		-1,000.00		0.0%	
01-1441	Travel & Lodging	5,376.93		10,000.00		-4,623.07		53.77%	
01-1450	Insurance	104,760.00		120,000.00		-15,240.00		87.3%	
01-1480	Legal Advertisements	4,573.20		8,000.00		-3,426.80		57.17%	
01-1512	Miscellaneous	762.43		10,000.00		-9,237.57		7.62%	
01-1513	Postage and Delivery	1,336.39		3,000.00		-1,663.61		44.55%	
01-1514	Office Supplies	2,240.25		3,500.00		-1,259.75		64.01%	
01-1540	Dues, License & Subscriptio	175.00		500.00		-325.00		35.0%	
01-1541	Misc Filing, Notices, etc.	0.00		500.00		-500.00		0.0%	
01-1733	Trustee Fees	23,901.13		40,000.00		-16,098.87		59.75%	
01-1734	Continuing Disclosure Fee	10,000.00		12,000.00		-2,000.00		83.33%	
01-1735	Assessment Roll	0.00		25,000.00		-25,000.00		0.0%	
01-1801	Landscaping - Miscellaneou	3,185.00		0.00		3,185.00		100.0%	
01-1808	Irrigation Repair	167,096.06		205,000.00		-37,903.94		81.51%	
01-1813	Storm Cleanup - Electric	0.00		26,250.00		-26,250.00		0.0%	
01-1814	Storm Cleanup	0.00		60,000.00		-60,000.00		0.0%	
01-1815	Miscellaneous Maintenance	75,903.54		75,000.00		903.54		101.21%	
01-1816	Electric-Streetlights,Landsc	72,013.79		150,000.00		-77,986.21		48.01%	
01-1817	Maintenance Street Sweepin	2,900.00		30,000.00		-27,100.00		9.67%	
01-1818	Striping & Traffic Markings	222,829.00		250,000.00		-27,171.00		89.13%	
01-1819	Street Light Maintenance	68,434.78		140,000.00		-71,565.22		48.88%	
01-1820	Maint Sidewalk/Curb Repair	44,938.50		200,000.00		-155,061.50		22.47%	
01-1830	Maintenance Contracts	526,811.94		729,793.00		-202,981.06		72.19%	
01-1831	Tree Trimming	115,911.58		160,000.00		-44,088.42		72.45%	

Ave Maria Stewardship Community District
Budget vs. Actual
October 2024 through May 2025

		Oct '24 - May 25		24/25 Budget		$ Over Budget		% of Budget	
01-1832	Storm Cleanup - Landscapin	15,212.50		26,250.00		-11,037.50		57.95%	
01-1833	Plant Replacement	69,206.58		200,000.00		-130,793.42		34.6%	
01-1834	Mulch	106,148.00		150,000.00		-43,852.00		70.77%	
01-1839	Entry Feature/Near Well Wat	6,330.24		5,500.00		830.24		115.1%	
01-1841	Maintenance Irrigation Wate	72,926.27		93,713.00		-20,786.73		77.82%	
01-1842	Maint Fountain/Repair	22,262.54		50,000.00		-27,737.46		44.53%	
01-1843	Maintenance Rodent Contro	15,875.00		25,000.00		-9,125.00		63.5%	
01-1844	Maint Equipment Repair	122.85		8,400.00		-8,277.15		1.46%	
01-1845	Maint Signage Repair	24,372.00		20,000.00		4,372.00		121.86%	
01-1846	Maint Storm Drain Cleaning	26,038.21		52,500.00		-26,461.79		49.6%	
01-1847	Mnt Drainage/Lke Mnt/Littor	62,396.88		81,113.00		-18,716.12		76.93%	
01-1848	Maintenance Aerators	0.00		2,100.00		-2,100.00		0.0%	
01-1850	Maint-Preserve Maintenance	59,169.00		64,890.00		-5,721.00		91.18%	
01-1853	Maintenance Small Tools	1,983.43		7,500.00		-5,516.57		26.45%	
01-1854	Maint Miscellaneous Repairs	3,690.00		30,000.00		-26,310.00		12.3%	
01-1855	Maint Vehicle Lease/Fuel/Re	3,362.46		35,000.00		-31,637.54		9.61%	
01-1859	Maint-Administrative Suppli	2,100.00		0.00		2,100.00		100.0%	
01-1863	Maint Base Management Fee	15,360.00		23,000.00		-7,640.00		66.78%	
01-1867	Asset Management & Softwa	167,688.99		139,000.00		28,688.99		120.64%	
01-1869	Operations Team Salaries	293,333.36		462,000.00		-168,666.64		63.49%	
01-1871	Verizon - Internet	1,402.88		0.00		1,402.88		100.0%	
01-1872	Pressure Washing	65,442.00		60,000.00		5,442.00		109.07%	
01-1890	Maint-Reserve Fund	0.00		27,500.00		-27,500.00		0.0%	
01-1891	Maint Contingency	11,750.00		15,000.00		-3,250.00		78.33%	
01-1892	Public Safety Projects	78,017.10		250,000.00		-171,982.90		31.21%	
01-1893	Capital Asset Purchase	0.00		110,000.00		-110,000.00		0.0%	
Total Expenditures	2,915,987.78	4,773,043.00	-1,857,055.22	61.09%