AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

COLLIER COUNTY Regular Board Meeting November 5, 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
November 5, 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
October 14, 2025 Regular Board Meeting & Public Hearing Minutes…	Page 2
Old Business
AMSCD Projects Update…	Page 14
Signage Update
New Business
Consider Resolution No 2025-26 – Adopting a Fiscal Year 2024/2025 Amended Budget…	Page 15
Consider Resolution No 2025-27 – Adopting a Fiscal Year 2024/2025 Amended Budget
for Master Irrigation Utility System…	Page 31
Presentation of the following Items Related to the Series 2025 Master Capital Improvement Revenue Bonds:
Presentation of Final Series 2025 Assessment Methodology Report – Phase 5 Project.	Page 34
Consider Resolution No. 2025-28 – Series 2025 Supplemental Assessment Resolution…	Page 35
Consider Supplemental Disclosure of Public Financing…	Page 75
Asset Management Software, Programming, and Support Services
Consider Approval Agreement between England, Thims & Miller & the District to Continue
to Provide Asset Management Software, Programming, and Support Services…	Page 94
Consider Approval of First Amendment to Memorandum of Understanding Regarding GIS
and Asset Management System and the Funding of the Cost Thereof…	Page 107
Goals and Objectives:
Consider Resolution No. 2025-29 – Adopting an Annual Report of Goals, Objectives,
and Performance Measures and Standards…	Page 119
Consider Resolution No. 2025-30 – Adopting Goals, Objectives, and Performance
Measures and Standards…	Page 126

Consider Resolution No. 2025-31 – Adopting Construction and Maintenance Services
Prequalification Criteria and Procedures and Setting a Public Hearing…	Page 131
Discussion Regarding School Zone Speed Limit Signs on Seton Street
Administrative Matters
Legal Report
Engineer Report
Manager’s Report
Financials…	Page 154
Final Public Comments
Board Member Comments
Adjourn
*Public Comment will be limited to three minutes (3:00) with no rebuttal

Publication Date 2025-10-28

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 November 5, 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. November 4, 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 10/28/25 #11774997

Page 1

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT PUBLIC HEARING & REGULAR BOARD MEETING OCTOBER 14, 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

The October 14, 2025, Regular Board Meeting of the Ave Maria Stewardship Community District (the “District”) was called to order at 4:00 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 September 19, 2025, and September 26, 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	Todd Wodraska	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:

Michelle Mambuca (Ave Maria Development, Marketing), Russ Weyer (assessment methodology consultant), Donny Diaz, and approximately 10 members of the public. There were also approximately 15 people present via Zoom, including Cynthia Wilhelm (bond counsel), Steve Sammons, Ed Bulleit, and Aaron Ferber.

ADDITIONS OR DELETIONS TO AGENDA

Ms. Holland requested to rearrange Items J.2 and J.3 to be held after Item H.1.

A motion was made by Mr. DiFlorio, seconded by Ms. Robertson and passed unanimously approving the agenda, as amended.

COMMENTS FROM THE PUBLIC

Jeff Plys stated that he was speaking on behalf of the Ave Maria Civic Association. He asked the Board to revisit the Seton Street/Battle Creek Way intersection. He stated that residents were concerned with the traffic, golf carts, pedestrians, etc., traffic at this intersection and he believes a 4-way stop would improve the safety of this intersection.

APPROVAL OF MINUTES
1. September 9, 2025, Regular Board Meeting
The minutes of September 9, 2025, Regular Board Meeting were presented for consideration.
A motion was made by Mr. DiFlorio, seconded by Ms. Robertson and passed unanimously approving the minutes of the September 9, 2025, Regular Board Meeting, as presented.

Presentation from RSM Design Regarding Ave Maria Branding

Ms. Holland explained that at the September 9, 2025, Regular Board Meeting, the Board discussed the use of a community logo to be used on monument signage throughout Ave Maria. Mr. Genson suggested the Board receive a presentation from a professional design consultant to explain the importance of cohesive messaging and signage within a community. RSM Design has been working on signage improvements throughout Ave Maria, including reducing the number of wayfinding and developer signs, strategically placing new signage at key intersections and entry points to reduce confusion and improve overall wayfinding, and ensure featured builder advertisements are placed purposefully. RSM Design is an award-winning environmental graphic design firm with studio locations nationwide. Ms. Holland introduced Aaron Ferber with RSM Design.

Mr. Ferber shared his screen and noted that his slides changed slightly from what was presented in the meeting book. Mr. Ferber introduced his team at RMS Design. Mr. Klucik asked Mr. Ferber if he had spoken with anyone at Ave Maria except the developer. Mr. Feber stated that he had a friend who lives here with whom he has spoken and he spent two days in Ave Maria. Mr. Ferber continued with his presentation. Ms. Mambuca spoke on behalf of Ave Maria Development (Marketing) and stressed the importance of community. The Board conversed back and forth with Mr. Ferber. Mr. Roth asked Mr. Klucik what he wanted to see; if he would like to Workshop this item. Mr. Ferber resumed his presentation and explained the brand guidelines he was working with. He explained that the intent was to replace the Maple Ridge signage on Anthem Parkway with the Ave Maria branding. Mr. Casalanguida asked what the current brand was versus what they are proposing. Staff confirmed that the signs currently have the Maple Ridge logo and they are proposed to be replaced with the Ave Maria branding. Mr. Klucik stated that all current District monuments have all caps

lettering and that the font of the Ave Maria logo was trendy. He said that he would not mind it on the builder/developer signs, but not on District monuments. Mr. DiFlorio asked if the monuments had to belong to the District. Mr. Roth stated that the professionals pointed out that Ave Maria was inconsistent with uniformity in the community and that was the purpose. Mr. Casalanguida agreed and stated that communities like Babcock Ranch and Lakewood Ranch had community brands. Mr. Klucik restated that the font was trendy, not timeless, and that we were being asked to approve signs because the developer was asking us to. The Board agreed to continue this discussion with the next item. They thanked Mr. Ferber for his presentation.

Consider Approval of Resolution No. 2025-21 – Adopting Signage Plan Design

Resolution No. 2025-21 was presented, entitled:

RESOLUTION NO. 2025-21

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT ADOPTING A SIGNAGE DESIGN PLAN AND PROVIDING FOR SEVERABILITY AND EFFECTIVE DATE.;

Mr. Casalanguida made a motion approving for discussion, Mr. Roth seconded, and passed unanimously to discuss.

Mr. DiFlorio asked if signage was placed on District property, did it have to go before the Boad for approval (existing District property, not future)? Ms. Willson stated that the intent of this resolution, as drafted, does not apply to existing monumentation and modifications to existing District property would have to go back before the Board. Mr. Casalanguida clarified Exhibits A, B, and C. Ms. Willson stated that she could modify the resolution if needed to state that this does not authorize changes to existing infrastructure, that she can clarify that this resolution will be utilized for monumentation moving forward. Mr. Casalanguida asked about the funding, District funding versus marketing funding. Mr. Klucik asked who would own the Anthem Parkway signs. Ms. Willson stated that they were currently owned by a third party, but acquisition of the monuments is currently included in the 2025 master bonds. Mr. Klucik asked how we got to this point. Mr. Genson stated that the original installation of monuments was only contemplated for the Maple Ridge project. As development has grown, Pulte is expanding north. He stated that the monumentation should not represent Maple Ridge, it should represent the community. Since it is on District property, the District will buy it using
$500,000 in bonds and noted that the monuments cost over $900,000 [originally]. Mr. Klucik stated that it is weird to have monuments in the middle of town. Mr. Genson disagreed and thinks having signs makes sense; it creates a sense of community overall. He added that Anthem Parkway Phases 5A and 5B had monumentation and we can add more. However the intent was to build the road as fast as possible, so the monumentation will come later. Mr. Klucik thinks the developer should take care of the monuments rather than spend $500,000 in bond funds to fix the problem, plus AMD has an easement for the signs. Mr. Genson reminded Mr. Klucik that AMD would not be around forever, but it does make sense. Mr. Roth asked what would happen if the resolution did not pass. Ms. Willson stated that if monumentation is included in future construction plans, this would need to be addressed. Mr. DiFlorio wanted confirmation that the monuments were not included in the roadway conveyance to the District. Ms. Willson confirmed that was correct. She also stated that it was common for [community development and other independent special] districts to own/maintain monuments as they are a long term maintenance entity and can ensure items are maintained in accordance with Board standards. Mr. Roth asked if anyone was in favor of adopting the resolution and the consensus was no. The Board discussed the logo, including the half sun and the flower. The Board directed staff to address the logo included in Exhibit A and asked that the signs include wayfinding. The Board agreed the funding sources in the resolution do not need to be changed. Mr. DiFlorio asked about maintenance costs. Mr. Genson responded that maintenance costs were low, but we could create an agreement. Mr. Casalanguida

asked Mr. Genson if they could be donated to the District. Mr. Genson stated that he felt that $500,000 was a reasonable discount. Ms. Roberston asked about the cost to reface the signs. Mr. Genson confirmed that AMD would bear the cost to reface the signs. The Board agreed that the signs should be removed from the 2025 Master Bonds and that the resolution needed to be amended, including amending Exhibit A and deleting Exhibit C, and brought back for Board consideration.

Ms. Holland then recessed the Regular Board Meeting and opened the Public Hearing.

I J.   PUBLIC HEARING
Proof of Publication

Proof of publication was presented indicating that notice of the Public Hearing had been published in the
Naples Daily News on September 19, 2025, and September 26, 2025, as legally required.

Present Second Supplemental Sub-Master Engineer’s Report for the Ave Maria Stewardship Community District

Mr. Tryka presented this item. He informed the Board that this was the same report that was presented and approved [for purposes of setting the public hearing] last month and represented the total bond amount. Mr. Klucik asked if there were any significant changes. Mr. Tryka responded that there were not. The report establishes a scope of work and the cost estimates. He stated that the monument signage acquisition was included in the report, but it was okay to leave “as-is” as this report sets the parameters on overall scope but specific improvements would be included in the supplemental report associated with specific bond financings. Mr. Klucik asked how this related to Item K [2025 Master Bonds]. Ms. Willson responded that we need to go through the public hearing first to increase the assessment cap [associated with the master levy] and that the District will rely on this resolution for future bond issuances. There were no further questions from the Board and it was noted that a vote was not required for the presentation.
Present Town of Ave Maria Sub-Master Supplemental Assessment Methodology Report

Mr. Weyer presented the report. He stated that there were only minor change since this was presented last month clarifying the report assumes the legislation will approve the modification to the District’s boundary and as such the acreage was not included within the scope of the report. Mr. Weyer explained that the report supplements the original master methodology adopted in 2006 and updates the per unit assessment levels which sets the cap (the level at which the District can assess on a per unit basis).
Receive Public Comments on Imposing a Special Assessment on the Remaining Lands to be Developed Property within the Ave Maria Stewardship Community District

Carlos Figueroa stated that he wanted to speak about bond financing, but because his English was not the best, he wrote a letter that the requested be read into the record [included with meeting minutes]. Mr. Figueroa spoke in addition to reading his letter and in summary, was mostly questioning why bonds were not competitively bid and if the District was adhering to IRC Section 147(g).

3.	Consider Resolution No. 2025-24 – Equalizing, Confirming, and Levying Assessments Supplementing Master Assessment Lien – Remaining Master Improvements (Phases 5-8)

Ms. Willson presented Resolution No. 2025-24, entitled:

RESOLUTION NO. 2025-24

A RESOLUTION MAKING CERTAIN FINDINGS; AUTHORIZING A CAPITAL IMPROVEMENT PLAN; ADOPTING AN ENGINEER’S REPORT; PROVIDING AN ESTIMATED COST OF IMPROVEMENTS; ADOPTING AN ASSESSMENT REPORT; EQUALIZING, APPROVING, CONFIRMING AND LEVYING DEBT ASSESSMENTS; ADDRESSING THE FINALIZATION OF SPECIAL ASSESSMENTS; ADDRESSING THE PAYMENT OF DEBT ASSESSMENTS AND THE METHOD OF COLLECTION; PROVIDING FOR THE ALLOCATION OF DEBT ASSESSMENTS AND TRUE-UP PAYMENTS; ADDRESSING GOVERNMENT PROPERTY, AND TRANSFERS OF PROPERTY TO UNITS OF LOCAL, STATE AND FEDERAL GOVERNMENT; AUTHORIZING AN ASSESSMENT NOTICE; AND PROVIDING FOR SEVERABILITY, CONFLICTS AND AN EFFECTIVE DATE..;

Ms. Willson stated for the record that this resolution and levy of assessments only pertains to future property to be developed, not for existing properties owned by end users [or encumbered by special assessments securing previously-issued bonds]. Ms. Willson asked both Mr. Tryka and Mr. Weyer questions about their reports to ensure the record contains information required by law. Ms. Willson asked based on your professional experience, are the costs estimates in the engineer’s report reasonable and proper? Mr. Tryka responded that they were. Ms. Willson asked are you aware of any reason to believe the project cannot be carried out by the District? Mr. Tryka responded no. Ms. Willson advised she would ask Mr. Weyer a few items to be included in the record.

Ms. Willson asked if the lands subject to the assessments receive special benefits from the project as described in the report. Mr. Weyer responded that they did. Ms. Willson asked if the special assessments were reasonably apportioned among the lands subject to the special assessments. Mr. Weyer responded yes. Ms. Willson asked if it was reasonable, proper, and just to assess the costs of the project against the lands in the District in accordance with your methodology? Mr. Weyer responded affirmatively.
Ms. Willson asked if the special benefits the lands will receive be equal to or in excess of the maximum special assessments levied thereon when allocated as set forth in the methodology? Mr. Weyer responded yes. Ms. Willson asked if it was in the best interests of the District that the maximum special assessments be paid and collected in accordance with the methodology and the District’s assessments resolutions? Mr. Weyer responded yes.

Ms. Willson noted that the amount in the reports was the overall maximum assessment amount. Ms. Willson went on to summarize the resolution in detail, noting that it requires additional action in the future to finalize assessments for any series specific future bond issuance.

A motion was made by Mr. Casalanguida, seconded by Ms. Robertson and passed 4-0 (Mr. Klucik had stepped away prior to the vote) adopting Resolution No. 2025-24 – Equalizing, Confirming, and Levying Assessments Supplementing Master Assessment Lien – Remaining Master Improvements (Phases 5-8), as presented.

Ms. Holland then closed the Public Hearing and reconvened the Regular Board Meeting

J K.  OLD BUSINESS
AMSCD Projects Update

Ms. Holland presented this item and explained that the updates to the projects were included in the meeting book.

Ms. Holland explained that the web domain avemaria.gov was not approved by the Cybersecurity & Infrastructure Security Agency. The name of the web domain has to make it clear that this is a special district and not a municipality. They would approve avemariadistrict.gov, avemariadistrictfl.gov, or avemariastewardshipcd.gov. Ms. Holland asked the Board if they would like to secure one of the alternatives. The Board conversed briefly. Mr. Wodraska stated that when and if the time comes, the Board will be able to secure the web domain avemaria.gov. The Board agreed with Mr. Wodraska.

Ms. Holland informed the Board that CCSO had requested that the District revise the name of the portion of Anthem Parkway north of Pope John Paul II Boulevard (PJP2) to “Anthem Parkway North” to avoid confusion with the south and north intersections of Anthem Parkway and PJP2. Ms. Holland requested a motion from the Board to submit the street name change to Collier County.

A motion was made by Mr. DiFlorio, seconded by Mr. Casalanguida and passed unanimously, authorizing staff to submit the street name change to Collier County.

Ms. Holland acknowledged that she had received an email on behalf of the Civic Association last week regarding the intersection concerns at Seton Street and Battlecreek Way. She acknowledged that this intersection had been discussed many times in the past and she believed it was worthy of conducting a stop sign warrant analysis to determine if stop signs were warranted on Seton Street. She asked Trebilcock Consulting Solutions, PA, for a proposal to conduct the warrant analysis. The cost is $10,600 and we have money budgeted for consulting services if the Board would like to move forward. Ms. Holland is aware of concerns with the bus stop at this location and she has been coordinating with CCPS transportation to make safety improvements. Mr. Klucik asked Mr. Tryka if he believed the stop signs would be warranted. Mr. Tyka responded that he had strong opinions about stop signs and did not believe they always solved problems. It was his opinion that a 4-way stop sign would be unlikely warranted due to traffic splits at that intersection. The Board conversed with Mr. Tryka and decided to table this topic until the next meeting.
Ms. Holland provided an update to the Ave Maria Boulevard on-street parking situation. Ms. Holland worked with Mr. Klucik to prepare a letter that was sent to AMU students to discourage them from parking in front of the residential homes on Ave Maria Bouelvard. Ms. Holland is confident that this will help the parking situation but agreed to revisit the topic if it did not.

K L.  NEW BUSINESS
Presentation of the following items Related to the Series 2025 Master Capital Improvement Revenue Bonds:
Presentation from MBS Regarding Underwriting Services

After resolving some technical difficulties, Ed Bulleit from Capital Markets, LLC provided an overview of the District’s bond process. He addressed the competitive bid question in the letter included in the meeting book on Pages 127 and 128. Mr. Klucik stated that although it was not a competitive bid [as defined by statute], the bidding actually was competitive. Mr. Bulleit confirmed yes. Mr. Klucik and Mr. Bulleit discussed additional items pertaining to the bonds and payment procedures. Mr. Bulleit emphasized that the developer was very involved in the interest rate other financing components because the developer [and builders] pay those fees initially. Mr. Wodraska added that the underwriting fee was 1.3% which was extremely low as most pay 2%.
Present Sixth Sub-Master Supplemental Engineer’s Report for the Ave Maria Stewardship Community District Series 2025 Master Bonds (the “Supplemental Engineer’s Report)

Mr. Tryka presented the sub-master supplemental engineer’s report. He summarized that there were 11 projects total and about half had already been completed. He explained that as a result of the Board not approving the Anthem Parkway monument sign acquisition, this would need to be removed from the list, but he advised the Board to consider keeping the project total amount the same. Mr. Tryka recommended moving the $500,000 line item to contingency. This move would increase the contingency from 5% to 7% which is still relatively low for a contingency amount. Mr. Klucik asked if we could reduce the bond burden to the residents by eliminating the $500,000. After discussion, the Board agreed to strike “5. Anthem Parkway Monument Signage Acquisition” from Exhibit B [Page 155 of the meeting book] and move the $500,000 to contingency.

A motion was made by Mr. Casalanguida, seconded by Ms. Robertson and passed unanimously approving the Sixth Sub-Master Engineer’s Report for the Ave Maria Stewardship Community District Series 2025 Master Bonds, subject to the modification above.

Present Series 2025 Master Bonds Supplement to the Third Sub-Master Supplemental Assessment Methodology Report for the Ave Maria Stewardship Community District (the “Supplemental Assessment Methodology Report”)
Mr. Weyer explained that the proposed methodology for the 2025 Master Bonds supplements the methodology that was just approved during the Public Hearing. He stated that he needed to update the report based on the monument signage change and he would move the amount to the contingency as well. Mr. Klucik questioned the fees, asking if we expect to issue the full bond amount. Mr. Weyer responded yes.

A motion was made by Mr. Klucik, seconded by Ms. Robertson and passed unanimously approving the Series 2025 Master Bonds Supplement to the Third Sub-Master Supplemental Assessment Methodology Report for the Ave Maria Stewardship Community District Series, in substantial form, subject to the modification above.

a. Consider Resolution No. 2025-25 – Delegated Award Resolution Series 2025 Master Bonds

Ms. Wilhelm presented Resolution No. 2025-25, entitled:
RESOLUTION NO. 2025-25
A RESOLUTION DELEGATING TO THE CHAIRMAN OF THE BOARD OF SUPERVISORS OF AVE MARIA STEWARDSHIP COMMUNITY DISTRICT (THE "DISTRICT") THE AUTHORITY TO APPROVE THE SALE, ISSUANCE AND TERMS OF SALE OF AVE MARIA STEWARDSHIP COMMUNITY DISTRICT CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PHASE 5 MASTER IMPROVEMENTS PROJECT) (THE "SERIES 2025 MASTER BONDS"), AS A SINGLE SERIES OF BONDS UNDER THE MASTER TRUST INDENTURE IN ORDER TO FINANCE THE PHASE 5 MASTER IMPROVEMENTS PROJECT; ESTABLISHING THE PARAMETERS FOR THE PRINCIPAL AMOUNTS, INTEREST RATES, MATURITY DATES, REDEMPTION PROVISIONS AND OTHER DETAILS THEREOF; APPROVING THE FORM OF AND AUTHORIZING THE CHAIRMAN TO ACCEPT THE BOND PURCHASE AGREEMENT FOR THE SERIES 2025 MASTER BONDS; APPROVING A NEGOTIATED SALE OF THE SERIES 2025 MASTER

BONDS TO THE UNDERWRITER; RATIFYING THE MASTER TRUST INDENTURE AND APPROVING THE FORM OF SIXTEENTH SUPPLEMENTAL TRUST INDENTURE AND AUTHORIZING THE EXECUTION AND DELIVERY THEREOF BY CERTAIN OFFICERS OF THE DISTRICT; APPOINTING A TRUSTEE, PAYING AGENT AND BOND REGISTRAR FOR THE SERIES 2025 MASTER BONDS; APPROVING THE FORM OF THE SERIES 2025 MASTER BONDS; APPROVING THE FORM OF AND AUTHORIZING THE USE OF THE PRELIMINARY LIMITED OFFERING MEMORANDUM AND LIMITED OFFERING MEMORANDUM RELATING TO THE SERIES 2025 MASTER BONDS; APPROVING THE FORM OF THE CONTINUING DISCLOSURE AGREEMENT RELATING TO THE SERIES 2025 MASTER BONDS; AUTHORIZING CERTAIN OFFICERS OF THE DISTRICT TO TAKE ALL ACTIONS REQUIRED AND TO EXECUTE AND DELIVER ALL DOCUMENTS, INSTRUMENTS AND CERTIFICATES NECESSARY IN CONNECTION WITH THE ISSUANCE, SALE AND DELIVERY OF THE SERIES 2025 MASTER BONDS; AUTHORIZING THE VICE CHAIRMAN AND ASSISTANT SECRETARIES TO ACT IN THE STEAD OF THE CHAIRMAN OR THE SECRETARY, AS THE CASE MAY BE; SPECIFYING THE APPLICATION OF THE PROCEEDS OF THE SERIES 2025 MASTER BONDS; AUTHORIZING CERTAIN OFFICERS OF THE DISTRICT TO TAKE ALL ACTIONS AND ENTER INTO ALL AGREEMENTS REQUIRED IN CONNECTION WITH THE ACQUISITION AND CONSTRUCTION OF THE PHASE 5 MASTER IMPROVEMENTS PROJECT; APPROVING THE FORMS OF SUPPLEMENTAL ASSESSMENT METHODOLOGY REPORT AND SUPPLEMENTAL ENGINEER’S REPORT, AND PROVIDING AN EFFECTIVE DATE.

Exhibit A – Form of Purchase Agreement
Exhibit B – Form of Supplemental Indenture
Exhibit C – Form of Preliminary Limited Offering Memorandum
Exhibit D – Form of Continuing Disclosure Agreement
Exhibit E – Form of Ancillary Documents
Exhibit F – Form of Supplemental Assessment Methodology Report
Exhibit G – Form of Supplemental Engineer’s Report

Ms. Wilhelm summarized the resolution including the delegations and approvals, in substantial form. Ms. Willson summarized the ancillary documents. Mr. Casalanguida asked if this was customary practice. Ms. Wilhelm confirmed that it was; she has issued bonds for over 30 years and not one was competitively bid. She stated the Board was asked to approve the form of documents and that the documents would be finalized after pricing, and that schedule I sets the parameters for pricing. Mr. Klucik asked that his name either be revised to “Robb” or “Robert”” on Page 219 [of the meeting book], instead of “Rob.” Staff confirmed they would make the change.

A motion was made by Mr. Casalanguida, seconded by Ms. Robertson and passed unanimously adopting Resolution No. 2025-25 – Delegated Award Resolution Series 2025 Master Bonds, as amended.

Presentation Regarding Landscape and Hardscape Elements inside the Central Island of the New Roundabout at Pope John Paul II Blvd and Anthem Parkway

Ms. Holland explained that the Anthem Parkway Phase 5B project included converting the current all- way stop intersection to a roundabout at Pope John Paul II Boulevard and Anthem Parkway. Construction of the roundabout is well underway. The landscape and hardscape elements inside a

roundabout are collectively known as the “central island.” Steve Sammons, Registered Landscape Architect with Peninsula Engineering, will present the proposed design within the central island. The landscape and hardscape elements are not included in the current agreement with O’Donnell Landscapes, Inc., but they will be added via change order submitted for Board consideration once the design and pricing have been finalized. Ms. Holland printed the handouts for the Board and they were presented on the screen for the public and for Zoom attendees.

Mr. Sammons presented the central island hardscape and landscape design to the Board. He emphasized the safety and visibility considerations needed at a roundabout. The Board questioned the maintenance as some of these hardscape items were new to the District such as the pebble stone and rope lighting. The Board asked who would construct the hardscape. Mr. Sammons stated that it would likely be a contractor from the library of prequalified contractors. Mr. Klucik stated that the design appeared to be trendy and that this was really different than the other roundabouts. Mr. Roth asked which road was the main thoroughfare, Anthem Parkway or Pope John Paul II Boulevard, and who would see the pebbles. Mr. Sammons stated that the pebbles would be seen from both directions and that both roads would eventually be main thoroughfares. Mr. Casalanguida stated that there was a glue-like material that could be installed to hold the rocks in place; Mr. Sammons agreed to look into that. Mr. Klucik asked if Mr. Sammons could provide a rendering because it was important to see what it will look like and it was difficult to tell by the drawings provided. Ms. Holland confirmed that the Board was not voting on anything today. She stated that once design plans and pricing was in place, she would bring this back to the Board either as a change order to O’Donnell’s current agreement, or as a new contract with a qualified contractor.

Mr. DiFlorio asked about the funding for the new roundabout at Camp Keais Road and Pope John Paul II Boulevard. Mr. Casalanguida stated that he believed the roundabout would be funded by the developer but reimbursed by Collier County.
Consider Approval of Change Order No. 4 to O’Donnell Landscapes for Improvements in Conjunction with the Anthem Parkway Phase 5A Project

Ms. Holland presented this item. She explained that this was mostly a cleanup change order. O’Donnell Landscapes, Inc. is providing landscape and irrigation services in conjunction with the Anthem Parkway Phase 5A project. Change order #4 is an increase in the amount of $12,309.00 for the cost of the contract required Payment and Performance Bond. Peninsula Engineering recently informed District staff that O’Donnell’s bond cost was never included in the approved agreement or change order. Therefore, this change order is simply to add the cost of the required Payment and Performance bond into the agreement.

The new total contract price for O’Donnell, including Change Order #4 is calculated as follows:
$1,050,636.79 plus $12,309.00 = $1,062,945.79.

A motion was made by Mr. Casalanguida, seconded by Mr. DiFlorio and passed unanimously approving Change Order No. 4 to O’Donnell Landscapes for Improvements in Conjunction with the Anthem Parkway Phase 5A Project, as presented.

Consider Approval of Agreement with Outside Productions, Inc. to Provide Professional Services for Entry Feature Design Concepts at the Oil Well Road Entrance for the District

Ms. Holland presented this item. She explained that she had contacted Outside Productions, Inc. (OPI) to discuss exploring alternative entry feature designs at the Oil Well Road entrance. She brought the proposal before the Board at last month’s meeting, but she asked OPI to add an opinion of probable construction costs to the proposal. The proposed agreement from OPI includes a study of conceptual design and support graphics for alternative entry feature design concepts including an opinion of construction costs for each design concept.  Ms. Holland explained that the District had budgeted
$70,000 in the adopted FY 2025/2026 budget for professional consulting services. Funding OPI’s agreement in the amount of $15,000 is within the O&M budget for this type of service.

A motion was made by Mr. Casalanguida, seconded by Ms. Robertson and passed unanimously approving the agreement with Outside Productions, Inc. to Provide Professional Services for Entry Feature Design Concepts at the Oil Well Road Entrance for the District, as presented.

Consider Authorizing Staff to Publish Notices on a “Publicly Accessible Website” as an Alternative to Publication in Print Newspaper

Ms. Holland presented this item. She explained that a House Bill passed during the 2022 legislative session and among the changes within the Bill, a new section of the Florida Statutes allows for notices to publish on a “publicly accessible website” as an alternative to publication in a print newspaper. Staff confirmed that the Collier County official website qualifies as a publicly accessible website. Ms. Holland confirmed that the cost of publishing on Collier County’s website is substantially less than the cost to publish in the Naples Daily News. Collier County is currently not charging for publishing on their website. However, Ms. Holland understands that once they have a system in place, the fee will be $50/notice and each District will be invoiced monthly. There is also a plan to have the ability for Collier County to accept an online credit card payment, which will incur an additional service fee (usually less than 5%). The District currently pays approximately $425 for one publication in the Naples Daily News. The Public Hearing notices can cost over $5,000. Ms. Willson stated that she had several districts move to publishing notices on publicly accessible websites instead of the newspaper and that her firm has provided a memo regarding such. Ms. Holland requested approval by the Board authorizing the District to publish legal notices on the Collier County’s official website as an alternative to a publication in a print newspaper, in accordance with Section 50.0311, Florida Statutes.
A motion was made by Mr. Klucik, seconded by Ms. Robertson and passed unanimously authorizing staff to publish notices on a publicly accessible website as an alternative to publication in a print newspaper, as presented.
L M.  ADMINISTRATIVE MATTERS
Legal Report

Ms. Willson had nothing further to report but indicated that she was available for questions.

Engineer Report

Mr. Tryka had nothing further to report but indicated that he was available for questions.

Manager’s Report
Financials
Ms. Holland indicated that the financials were included in the meeting book. She noted a few overages that had been previously disclosed and a few new ones. The Miscellaneous expenditure is over budget

and as it includes the consulting contracts (traffic study, crosswalk study, etc.). Office supplies line item is over budget as it includes some new furniture that was purchased for the new office space. Ms. Holland indicated that she anticipates the budget to be under by a few hundred thousand dollars.

M N.  FINAL PUBLIC COMMENTS

There was no further public comment.

N O.	BOARD MEMBER COMMENTS

Mr. DiFlorio stated that the North Park entrance off Anthem Parkway was confusing. Ms. Holland responded that she agreed and that signage was being installed this week. Once the signs have been installed, the traffic pattern should make more sense. Mr. Casalanguida stated that although Carlos already left the meeting, he had great questions and thanked everyone for the clarifications tonight.

O P.   ADJOURNMENT

There being no further business to come before the Board, the Regular Board Meeting was adjourned at 7:46 p.m. by Chairman Roth. There were no objections.

Secretary/Assistant Secretary	Chair/Vice-Chairman

Vllld�t: Llldl :>t:IVt:U d:> VVt:lt.;Ulllt: \..t:IILt:r.

I have been allowed to discuss tonight's Agenda and will try to make just two points. For the record, through the office of Allyson Holland I met on Zoom with David, Michael (SDS) and Andrew (BC Development) and brought to their attention these issues.

Why after 20 years of development, and over $100MMM in tax exempt bonds issued we.never discuss the aggregate and always pursue the same "cookie cutter" approach. You will notice past books presented to the Board have the same urgency, as expresses to the Board (allow me to read a clause on P. 188 (185 on the book). You'll see the same "advise "on the.June Book (last Bond Issue).

Have you ever considered a "Competitive Bidding" process, rather than the same ol' "Negotiated Sale" format? I'm not a lawyer, but I am familiar with different "fiduciary" responsibilities of the Board and for the sake of professional discussions, we should not keep putting the II cart in front of the horse".
Gentlemen, a modest 50 basis points (.005) saved on $100MM of bond financing needed to compete this project turns into represents $500k /yr. saved...x 15 yrs. ave. life= $7.5MM saved over the average life of our projected borrowings.

I believe we need to "slow down" and realize we have a 20-year record of performance. We should start pursuing what ultimate is best for the residents of Ave Maria, who are the ultimate source of assessments and deserve your ultimate commitment to them alongside the Developer's efficient cost containment.

3 - If not tonight, soon, we deserve more transparency of the Developers' plan to increase our Board participation to 3 out of 5 Directors to define at what% of buildout (capped) we earn the true meaning of self-government. I believe A&B above is a good start to reconcile
the best interest of all in our community.
MBS letter is not a conclusive opinion. I belief this subject warrants a legal opinion covering past and future tax-exempt issuance.

Thank you for your attention to these topics,
/7�-
Carlos A. F(iu�er'1/ �
5694 Mayflower Way Unit 503 Ave Maria FL. 34142

5057 Iron Horse Way Ave Maria FL. 34142

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: Q4 2025
IPS #4:
Q2 2026	

100% Design	90% Construction	

$10,264,854	

*$13,100,000	

2023 Bonds and
future 2025 Bond Issuance	

Daniel Hartley	

Allyson Holland (District)	Phase 5A: Construction is substantially complete; minimal landscaping and pavement striping remains. Preliminary inspections are in progress and deficient items will be addressed. Final inspections and certification will follow.

IPS4: Material deliveries have commenced. Irrigation station and wastewater station wetwells will be installed in the first half of November. Irrigation pump house pad intended to be poured prior to Dec 15 to accommodate irrigation pump station delivery. Lake excavation to commence soon.	

Anthem Parkway Ph 5B (Includes roundabout at PJPII)

6/7/2022	

1st quarter 2025	

2nd Quarter 2026	

100% Design	30% Construction	

$8,394,852	

*$9,609,525	

2023 Bonds and
future 2025 Bond Issuance	

Daniel Hartley	

Allyson Holland (District)	Roundabout conversion: 1st lift of asphalt will be complete by 10/31/25. MOT will be modified to facilitate a soft opening of the roundabout to traffic by 11/3/25. Final grading, landscaping, and hardscape will follow. Construction of Anthem Parkway north to Gather Point entrance is on schedule to be completed by the end of the year. Phasing plan is under review with Collier County to allow phased roadway openings. Construction of the remainder of 5B corridor is also ongoing. Estimated completion schedule for utility and paving is February 2026. Landscaping and lighing will follow, anticipated completion by Q2 2026.	

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. Berm landscape will commence after berm is complete. Project has been sub-phased so lake and road can be certified complete by Collier County while the berm is still being filled. Waiting on irrigation meter for roadway landscaping installation. Inspections and subsequent transfer to the Disctrict will occur after that.	

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 permit applications were submitted and are under review.	
Purchasing Policy 1/23/2025	
1/30/2025	
6/30/2026	
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	
6/30/2026	
30%	
TBD	
TBD	
N/A	
GSMA	Allyson Holland
(District)	
Updates to website continue.	
Crosswalk Analysis 8/27/2025	

6/1/2025	

12/30/2025	

75%	

TBD	

$22,000	FY 24/25 O&M
Budget / Developer Contribution Agreement	

Kimley Horn	
Allyson Holland (District)	
District manager and District Engineer met with Kimley Horn in August to review draft memo. Final memo received in October, present to Board in December.	

Page 14

RESOLUTION NO. 2025-26

A RESOLUTION OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT ADOPTING A REVISED AMENDED FISCAL YEAR 2024/2025 BUDGET ADMINISTRATION, OPERATION AND MAINTENANCE AND DEBT.

WHEREAS, the Board of Supervisors of the Ave Maria Stewardship Community District (hereinafter called District) is empowered to impose special assessments upon the properties within the District; and,

WHEREAS, the District Manager has prepared a Revised Amended Budget for fiscal year 2024/2025 for the administration, operation and maintenance and debt of the District.

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

Section 1.	The Revised Amended Budget for Fiscal Year 2024/2025 attached hereto as Exhibit “A” is hereby approved and adopted.

Section 2.	The Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with the intent of this Resolution.
PASSED, ADOPTED and EFFECTIVE this 5th day of November, 2025.

ATTEST:	AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

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

Ave Maria Stewardship Community District

Amended Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FY 2024/2025 AMENDED FINAL BUDGET

TABLE OF CONTENTS

Budget Summary
Amended Final Budget	1
Amended Final Maintenance Budget	2
Debt Service
Amended Final Series 2019 Debt Service Fund Budget	3
Amended Final Series 2022A Debt Service Fund Budget	4
Amended Final Series 2015 (Maple Ridge) Debt Service Fund Budget	5
Amended Final Series 2016 (Maple Ridge) Debt Service Fund Budget	6
Amended Final Series 2018 (Maple Ridge) Debt Service Fund Budget	7
Amended Final Series 2020 (Maple Ridge) Debt Service Fund Budget	8
Amended Final Series 2021 (Ave Maria National) Debt Service Fund Budget	9
Amended Final Series 2021 (Master) Debt Service Fund Budget	10
Amended Final Series 2022 (Maple Ridge) Debt Service Fund Budget	11
Amended Final Series 2024 (Master) Debt Service Fund Budget	12
Amended Final Series 2025 (Maple Ridge) Debt Service Fund Budget	13

AMENDED FINAL BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT OPERATING FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2024/2025
ANNUAL BUDGET	
FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET	
YEAR TO DATE ACTUALS
10/1/2024 - 9/29/2025	
DIFFERENCE BETWEEN ACTUALS
AND ANNUAL BUDGET	
O & M ASSESSMENTS	3,692,018	3,701,344	3,701,344	9,326	
DEBT ASSESSMENTS	6,565,123	6,565,911	6,565,911	788	
DEVELOPER CONTRIBUTION FOR O & M	1,357,426	904,951	904,951	(452,475)	
DEVELOPER CONTRIBUTION FOR DEBT	797,805	710,183	710,183	(87,622)	
DEVELOPER CONTRIBUTION - OT+ER	0	34,262	34,262	34,262	
OT+ER REVENUES	0	16,801	16,801	16,801	
INTEREST INCOME	500	68,500	68,118	67,618	
TOTAL REVENUES	$	12,412,872	$	12,001,952	$	12,001,570	(411,302)	
					
EXPENDITURES					
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISORS FEES	9,600	6,400	6,400	3,200	
PAYROLL TAX EXPENSE	734	490	490	244	
ENGINEERING	90,000	88,000	69,749	20,251	
MANAGEMENT	350,000	350,000	350,000	-	
LEGAL	100,000	108,000	87,742	12,258	
ASSESSMENT ROLL	25,000	25,000	25,000	-	
AUDIT FEES	18,300	18,300	18,300	-	
ARBITRAGE REBATE FEE	3,900	4,550	4,550	(650)	
TRAVEL & LODGING	10,000	8,458	8,458	1,542	
INSURANCE	120,000	105,369	105,369	14,631	
LEGAL ADVERTISING	8,000	18,500	16,139	(8,139)	
MISCELLANEOUS	10,000	35,000	30,407	(20,407)	
POSTAGE	3,000	4,500	4,459	(1,459)	
OFFICE SUPPLIES	3,500	6,850	6,762	(3,262)	
RENTS & LEASES	1,000	936	936	64	
DUES, LICENSE, & SUBSCRIPTIONS	500	175	175	325	
MISCELLANEOUS FILINGS, NOTICES, ETC.	500	0	0	500	
WEBSITE +OSTING FEES	2,500	2,500	2,500	-	
TRUSTEE FEES	40,000	47,444	47,444	(7,444)	
CONTINUING DISCLOSURE FEE	12,000	10,000	10,000	2,000	
MET+ODOLOGY REPORT	0	2,500	2,500	(2,500)	
TOTAL ADMINISTRATIVE EXPENDITURES	$	808,534	$	842,972	$	797,380	$	11,154	
					
MAINTENANCE EXPENDITURES					
MAINTENANCE	3,964,509	3,764,618	3,620,038	344,471	
EXTRAORDINARY DEVELOPER EXPENDITURES	0	34,262	34,262	(34,262)	
TOTAL MAINTENANCE EXPENDITURES	$	3,964,509	$	3,798,880	$	3,654,300	$	310,209	
					
TOTAL EXPENDITURES	$	4,773,043	$	4,641,852	$	4,451,680	321,363	
					
EXCESS OR (SHORTFALL)	$	7,639,829	$	7,360,100	$	7,549,890	89,939	
					
BOND PAYMENTS	$	(6,870,544)	(6,903,346)	(6,903,346)	(32,802)	
					
BALANCE	$	769,285	$	456,754	$	646,544	122,741	
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(359,000)	(197,481)	(197,481)	161,519	
DISCOUNTS FOR EARLY PAYMENTS	(410,285)	(384,917)	(384,917)	25,368	
					
NET EXCESS/ (SHORTFALL)	$	-	$	(125,644)	$	64,146	(64,146)	

FUND BALANCE (LESS RESERVE) AS OF 9/30/24	
FY 2024/2025 ACTIVITY	
FUND BALANCE (LESS RESERVE) AS OF 9/30/25	

$	201,880	
$	(125,644)	
$	76,236	

Note: Reserve Fund Balance As Of 9-30-25 is $378,084.

AMENDED FINAL BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT MAINTENANCE
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

	
FISCAL YEAR 2024/2025 ANNUAL BUDGET	
FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET	
YEAR TO DATE ACTUALS
10/1/2024 - 9/29/2025	
DIFFERENCE BETWEEN ACTUALS
AND ANNUAL BUDGET	
MAINTENANCE EXPENDITURES					
					
IRRIGATION REPAIR	205,000	285,000	273,311	(68,311)	
MISCELLANEOUS MAINTENANCE	75,000	80,000	77,209	(2,209)	
PRESSURE WAS+ING	60,000	70,000	65,442	(5,442)	
ELECTRIC (STREETLIG+TS, LANDSCAPE)	150,000	133,000	122,833	27,167	
STREET SWEEPING	30,000	15,000	14,500	15,500	
STRIPING & TRAFFIC MAR.INGS	250,000	240,000	230,593	19,407	
STREET LIG+T MAINTENANCE	140,000	155,000	145,359	(5,359)	
SIDEWAL. / CURB REPAIRS	200,000	85,000	78,003	121,997	
LANDSCAPE MAINTENANCE (ROADWAY, ENTRIES):	0	5,765	5,765	(5,765)	
MAINTENANCE CONTRACTS	729,793	810,000	791,580	(61,787)	
TREE TRIMMING	160,000	125,000	118,314	41,686	
STORM CLEANUP	60,000	0	0	60,000	
STORM CLEANUP - ELECTRIC	26,250	0	0	26,250	
STORM CLEANUP - LANDSCAPING	26,250	15,212	15,212	11,038	
PLANT REPLACEMENT	200,000	233,000	225,589	(25,589)	
MULC+ & MISCELLANEOUS	150,000	150,000	146,529	3,471	
WATER MANAGEMENT & DRAINAGE	0	0	0	-	
ENTRY FEATURE WATER	5,500	9,500	8,964	(3,464)	
IRRIGATION WATER	93,713	102,000	96,005	(2,292)	
FOUNTAIN MAINTENANCE	50,000	33,000	30,218	19,782	
RODENT/PEST CONTROL	25,000	23,000	19,800	5,200	
EQUIPMENT REPAIR	8,400	340	340	8,060	
SIGNAGE REPAIR	20,000	29,000	26,588	(6,588)	
STORM DRAIN CLEANING	52,500	38,000	33,373	19,127	
DRAINAGE / LA.E MAINTENANCE/ LITTORALS	81,113	118,000	112,474	(31,361)	
AERATORS	2,100	0	0	2,100	
PRESERVE MAINTENANCE	64,890	84,000	78,936	(14,046)	
SMALL TOOLS	7,500	3,800	3,421	4,079	
MISCELLANEOUS MAINTENANCE REPAIRS	30,000	20,000	17,391	12,609	
VE+ICLE LEASE / FUEL / REPAIRS (MAINT TEC+)	35,000	10,500	9,919	25,081	
MOSQUITO CONTROL	0	0	0	-	
MISCELLANEOUS OFFICE FACILITIES	0	2,100	2,100	(2,100)	
VERI=ON - INTERNET	0	2,110	2,110	(2,110)	
BASE MANAGEMENT FEE	23,000	23,040	23,040	(40)	
ASSET MANAGEMENT & SOFTWARE	139,000	210,000	206,021	(67,021)	
OPERATIONS TEAM	462,000	440,001	440,001	21,999	
PUBLIC SAFETY PROJECTS	250,000	175,000	159,848	90,152	
CAPITAL ASSET PURC+ASE	110,000	0	0	110,000	
TOTAL MAINTENANCE EXPENDITURES	$	3,922,009	$	3,725,368	$	3,580,788	341,221	
					
RESERVE FUND	27,500	27,500	27,500	-	
CONTINGENCY FUND	15,000	11,750	11,750	3,250	
					
TOTAL	$	3,964,509	$	3,764,618	$	3,620,038	344,471	

AMENDED FINAL BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2019
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2024/2025 ANNUAL BUDGET	FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2024 - 9/29/2025	
Interest Income (2019)	500	51,468	51,468	
Net NAV Collection (2019)	1,368,371	1,393,374	1,393,374	
Prepaid Bond Collection (2019)	0	7,774	7,774	
Total Revenues	$	1,368,871	$	1,452,616	$	1,452,616	
				
EXPENDITURES				
Principal Payments (2019)	955,000	955,000	955,000	
Interest Payments (2019)	410,306	419,856	419,856	
Extraordinary Principal Payments (2019)	3,565	0	0	
Total Expenditures	$	1,368,871	$	1,374,856	$	1,374,856	
				
Net Excess/ (Shortfall)	$	-	$	77,760	$	77,760	

FUND BALANCE AS OF 9/30/24	
FY 2024/2025 ACTIVITY	
FUND BALANCE AS OF 9/30/25	

$805,003	
$77,760	
$882,763	

Notes
Reserve Fund Balance = $342,564*. Revenue Fund Balance = $528,928*. Prepayment Fund Balance = $11,271*.
Revenue Account Balance To Be Used To Make 11/1/2025 Interest Payment Of $200,378.
Prepayment Account Balance To Be Used To Make 11/1/2025 Extraordinary Principal Payment Of $10,000.
* Approximate Amounts

Series 2019 Bond Refunding Information		
Original Par Amount =	$20,310,000	Annual Principal Payments Due:	
Interest Rate =	2.00% - 3.00%	May 1st	
Issue Date =	June 2019	Annual Interest Payments Due:	
Maturity Date =	May 2038	May 1st & November 1st	

Par Amount As Of 9/30/25 =	
$14,815,000		

AMENDED FINAL BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2022A
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2024/2025
ANNUAL BUDGET	FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2024 - 9/29/2025	
Interest Income (2022A)	100	79,384	79,384	
Net NAV Collection (2022A)	1,643,963	1,676,596	1,676,596	
Prepaid Bond Collection (2022A)	0	10,924	10,924	
Total Revenues	$	1,644,063	$	1,766,904	$	1,766,904	
				
EXPENDITURES				
Principal Payments (2022A)	870,000	870,000	870,000	
Extraordinary Principal Payments (2022A)	3,475	0	0	
Interest Payments (2022A)	770,588	783,094	783,094	
Total Expenditures	$	1,644,063	$	1,653,094	$	1,653,094	
				
Net Excess/ (Shortfall)	$	-	$	113,810	$	113,810	

FUND BALANCE AS OF 9/30/24	
FY 2024/2025 ACTIVITY	
FUND BALANCE AS OF 9/30/25	

$1,426,845	
$113,810	
$1,540,655	

Notes
Reserve Fund Balance = $821,715*. Revenue Fund Balance = $708,016*. Principal Fund Balance = $10,924*.
Revenue Fund Balance To Be Used To Make 11/1/2025 Interest Payment Of $379,041.
Principal Fund Balance To Be Used To Make 11/1/2025 Extraordinary Principal Payment Of $10,000.
* Approximate Amounts

Series 2022A Refunding Bond Information		
Original Par Amount =	$22,950,000	Annual Principal Payments Due:	
Interest Rate =	2.875% - 4.00%	May 1st	
Issue Date =	February 2022	Annual Interest Payments Due:	
Maturity Date =	May 2042	May 1st & November 1st	

Par Amount As Of 9/30/25 =	
$20,415,000		

AMENDED FINAL BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2015 (MAPLE RIDGE) FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2024/2025
ANNUAL BUDGET	FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2024 - 9/29/2025	
Interest Income (2015)	100	12,494	12,494	
Net NAV Collection (2015)	163,890	167,109	167,109	
Transfer from Construction (2015)	0	102	102	
Prepaid Bond Collection (2015)	0	0	0	
Total Revenues	$	163,990	$	179,705	$	179,705	
				
EXPENDITURES				
Principal Payments (2015)	55,000	55,000	55,000	
Extraordinary Principal Payments (2015)	1,815	0	0	
Interest Payments (2015)	107,175	108,550	108,550	
Total Expenditures	$	163,990	$	163,550	$	163,550	
				
Net Excess/ (Shortfall)	$	-	$	16,155	$	16,155	

FUND BALANCE AS OF 9/30/24	
FY 2024/2025 ACTIVITY	
FUND BALANCE AS OF 9/30/25	

$270,962	
$16,155	
$287,117	

Notes
Reserve Fund Balance = $168,150*. Revenue Fund Balance = $116,089*. Prepayment Account Balance = $2,878*
Revenue Fund Balance To Be Used To Make 11/1/2025 Interest Payment Of $52,900.
* Approximate Amounts

Series 2015 Bond Information		
Original Par Amount =	$2,530,000	Annual Principal Payments Due:	
Interest Rate =	5.000% - 5.375%	May 1st	
Issue Date =	February 2015	Annual Interest Payments Due:	
Maturity Date =	May 2045	May 1st & November 1st	

Par Amount As Of 9/30/25 =	
$1,990,000		

AMENDED FINAL BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2016 BOND (MAPLE RIDGE)
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2024/2025
ANNUAL BUDGET	FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2024 - 9/29/2025	
Interest Income (2016 - Bond)	100	12,537	12,537	
Net NAV Collection (2016 - Bond)	226,663	231,165	231,165	
Transfer from Construction (2016 - Bond)	0	44	44	
Prepaid Bond Collection (2016 - Bond)	0	0	0	
Total Revenues	$	226,763	$	243,746	$	243,746	
				
EXPENDITURES				
Principal Payments (16 - Bond)	70,000	70,000	70,000	
Extraordinary Principal Payments (16 - Bond)	1,363	0	0	
Interest Payments (16 - Bond)	155,400	157,238	157,238	
Total Expenditures	$	226,763	$	227,238	$	227,238	
				
Net Excess/ (Shortfall)	$	-	$	16,508	$	16,508	

FUND BALANCE AS OF 9/30/24	
FY 2024/2025 ACTIVITY	
FUND BALANCE AS OF 9/30/25	

$264,463	
$16,508	
$280,971	

Notes
Reserve Fund Balance = $113,297*. Revenue Fund Balance = $157,674*.
Revenue Fund Balance To Be Used To Make 11/1/2025 Interest Payment Of $76,781.
* Approximate Amounts

Series 2016 Bond Information		
Original Par Amount =	$3,390,000	Annual Principal Payments Due:	
Interest Rate =	5.25%	May 1st	
Issue Date =	October 2016	Annual Interest Payments Due:	
Maturity Date =	May 2047	May 1st & November 1st	

Par Amount As Of 9/30/25 =	
$2,925,000		

AMENDED FINAL BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2018 BOND (MAPLE RIDGE)
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2024/2025
ANNUAL BUDGET	FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2024 - 9/29/2025	
Interest Income (2018)	100	12,662	12,662	
Net NAV Collection (2018)	253,748	258,742	258,742	
Transfer from Construction (2018)	0	159	159	
Prepaid Bond Collection (2018)	0	7,787	7,787	
Total Revenues	$	253,848	$	279,350	$	279,350	
				
EXPENDITURES				
Principal Payments (2018)	70,000	70,000	70,000	
Extraordinary Principal Payments (2018)	2,683	0	0	
Interest Payments (2018)	181,165	183,580	183,580	
Total Expenditures	$	253,848	$	253,580	$	253,580	
				
Net Excess/ (Shortfall)	$	-	$	25,770	$	25,770	

FUND BALANCE AS OF 9/30/24	
FY 2024/2025 ACTIVITY	
FUND BALANCE AS OF 9/30/25	

$242,749	
$25,770	
$268,519	

Notes
Reserve Fund Balance = $127,026*. Revenue Fund Balance = $132,789*.
Revenue Fund Balance To Be Used To Make 11/1/2025 Interest Payment Of $90,075. Prepayment Account Balance = $8,704*
* Approximate Amounts

Series 2018 Bond Information		
Original Par Amount =	$4,000,000	Annual Principal Payments Due:	
Interest Rate =	4.9% - 5.375%	May 1st	
Issue Date =	June 2018	Annual Interest Payments Due:	
Maturity Date =	May 2049	May 1st & November 1st	

Par Amount As Of 9/30/25 =	
$3,395,000		

AMENDED FINAL BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2020 BOND (MAPLE RIDGE)
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2024/2025
ANNUAL BUDGET	FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2024 - 9/29/2025	
Interest Income (2020)	100	9,770	9,770	
Net NAV Collection (2020)	207,616	211,716	211,716	
Transfer from Construction (2020)	0	75	75	
Prepaid Bond Collection (2020)	0	0	0	
Total Revenues	$	207,716	$	221,561	$	221,561	
				
EXPENDITURES				
Principal Payments (2020)	65,000	65,000	65,000	
Extraordinary Principal Payments (20)	1,658	0	0	
Interest Payments (2020)	141,058	142,293	142,293	
Transfer To Construction Fund (2020)	0	0	0	
Total Expenditures	$	207,716	$	207,293	$	207,293	
				
Net Excess/ (Shortfall)	$	-	$	14,268	$	14,268	

FUND BALANCE AS OF 9/30/24	
FY 2024/2025 ACTIVITY	
FUND BALANCE AS OF 9/30/25	

$184,270	
$14,268	
$198,538	

Notes
Reserve Fund Balance = $83,065*. Revenue Account Balance = $115,473*.
Revenue Account Balance To Be Used To Make 11/1/2025 Interest Payment Of $69,911.
* Approximate Amounts

Series 2020 Bond Information		
Original Par Amount =	$3,440,000	Annual Principal Payments Due:	
Interest Rate =	3.8% - 4.45%	May 1st	
Issue Date =	July 2020	Annual Interest Payments Due:	
Maturity Date =	May 2052	May 1st & November 1st	

Par Amount As Of 9/30/25 =	
$3,255,000		

AMENDED FINAL BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
DEBT SERVICE FUND - SERIES 2021 BOND (AVE MARIA NATIONAL) FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2024/2025
ANNUAL BUDGET	FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2024 - 9/29/2025	
Interest Income (2021 - National)	0	24,216	22,817	
Net NAV Collection (2021 - National)	501,258	511,194	511,194	
Developer Contribution (2021 - National)	135,080	100,928	100,928	
Prepaid Bond Collection (2021 - National)	0	0	0	
Total Revenues	$	636,338	$	636,338	$	634,939	
				
EXPENDITURES				
Principal Payments (2021 - National)	240,000	240,000	240,000	
Interest Payments (2021 - National)	396,338	399,458	399,458	
Transfer To Construction Fund (2021 - National)	0	0	0	
Total Expenditures	$	636,338	$	639,458	$	639,458	
				
Net Excess/ (Shortfall)	$	-	$	(3,120)	$	(4,519)	

FUND BALANCE AS OF 9/30/24	
FY 2024/2025 ACTIVITY	
FUND BALANCE AS OF 9/30/25	

$519,473	
($3,120)	
$516,353	

Notes
Reserve Fund Balance = $319,744*. Revenue Account Balance = $196,609*.
Revenue Account Balance To Be Used To Make 11/1/2025 Interest Payment Of $196,609. 11/1/25 Interest Payment To Be Partially Developer Funded.
* Approximate Amounts - Revenue Account Balance As Of 10/31/2025

Series 2021 (Ave Maria National) Bond Information		
Original Par Amount =	$11,340,000	Annual Principal Payments Due:	
Interest Rate =	2.6% - 4.0%	May 1st	
Issue Date =	March 2021	Annual Interest Payments Due:	
Maturity Date =	May 2051	May 1st & November 1st	

Par Amount As Of 9/30/25 =	
$10,410,000		

AMENDED FINAL BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2021 BOND (MASTER) FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2024/2025
ANNUAL BUDGET	FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2024 - 9/29/2025	
Interest Income (2021 - Master)	100	30,223	30,223	
Net NAV Collection (2021 - Master)	640,319	653,048	653,048	
Prepaid Bond Collection (2021 - Master)	0	0	0	
Total Revenues	$	640,419	$	683,271	$	683,271	
				
EXPENDITURES				
Principal Payments (2021 - Master)	255,000	255,000	255,000	
Extraordinary Principal Payments (2021 - Master)	906	0	0	
Interest Payments (2021 - Master)	384,513	387,381	387,381	
Total Expenditures	$	640,419	$	642,381	$	642,381	
				
Net Excess/ (Shortfall)	$	-	$	40,890	$	40,890	

FUND BALANCE AS OF 9/30/24	
FY 2024/2025 ACTIVITY	
FUND BALANCE AS OF 9/30/25	

$559,743	
$40,890	
$600,633	

Notes
Reserve Fund Balance = $320,097*. Revenue Account Balance = $280,536*.
Revenue Account Balance To Be Used To Make 11/1/2025 Interest Payment Of $190,822.

Series 2021 (Master) Bond Information		
Original Par Amount =	$11,610,000	Annual Principal Payments Due:	
Interest Rate =	2.25% - 4.0%	May 1st	
Issue Date =	August 2021	Annual Interest Payments Due:	
Maturity Date =	May 2052	May 1st & November 1st	

Par Amount As Of 9/30/25 =	
$10,865,000		

AMENDED FINAL BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2022 MAPLE RIDGE FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2024/2025
ANNUAL BUDGET	FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2024 - 9/29/2025	
Interest Income (2022)	100	21,426	21,426	
Net NAV Collection (2022)	444,361	453,137	453,137	
Transfer from Construction (2022)	0	263	263	
Prepaid Bond Collection (2022)	0	0	0	
Total Revenues	$	444,461	$	474,826	$	474,826	
				
EXPENDITURES				
Principal Payments (2022)	155,000	155,000	155,000	
Extraordinary Principal Payments (2022)	3,791	0	0	
Interest Payments (2022)	285,670	287,995	287,995	
Total Expenditures	$	444,461	$	442,995	$	442,995	
				
Net Excess/ (Shortfall)	$	-	$	31,831	$	31,831	

FUND BALANCE AS OF 9/30/24	
FY 2024/2025 ACTIVITY	
FUND BALANCE AS OF 9/30/25	

$402,321	
$31,831	
$434,152	

Notes
Reserve Fund Balance = $222,150*. Revenue Account Balance = $212,002*.
Revenue Account Balance To Be Used To Make 11/1/2025 Interest Payment Of $141,673.

Series 2022 Bond Information		
Original Par Amount =	$7,775,000	Annual Principal Payments Due:	
Interest Rate =	3.00% - 4.00%	May 1st	
Issue Date =	February 2022	Annual Interest Payments Due:	
Maturity Date =	May 2052	May 1st & November 1st	

Par Amount As Of 9/30/25 =	
$7,325,000		

AMENDED FINAL BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2023 (MASTER) FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2024/2025
ANNUAL BUDGET	FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2024 - 9/29/2025	
Interest Income (2024)	100	40,137	38,204	
Net NAV Collection (2024)	624,700	804,058	804,058	
Developer Contribution (2024)	659,275	907,895	907,895	
Capitalized Interest (2024)	0	0	0	
Total Revenues	$	1,284,075	$	1,752,090	$	1,750,157	
				
EXPENDITURES				
Principal Payments (2024)	300,000	300,000	300,000	
Extraordinary Principal Payments (2024)	0	0	0	
Interest Payments (2024)	984,075	990,825	990,825	
Transfer To Construction Fund (2024)	0	0	0	
Total Expenditures	$	1,284,075	$	1,290,825	$	1,290,825	
				
Net Excess/ (Shortfall)	$	-	$	461,265	$	459,332	

FUND BALANCE AS OF 9/30/24	
FY 2024/2025 ACTIVITY	
FUND BALANCE AS OF 9/30/25	

$669,861	
$461,265	
$1,131,126	

Notes
Reserve Fund Balance = $642,463*. Revenue Account Balance = $488,663*.
Revenue Account Balance To Be Used To Make 11/1/2025 Interest Payment Of $488,663. 11/1/25 Interest Payment To Be Partially Developer Funded.
* Approximate Amounts

Series 2024 Bond Information		
Original Par Amount =	$19,150,000	Annual Principal Payments Due:	
Interest Rate =	4.50% - 5.50%	May 1st	
Issue Date =	August 2023	Annual Interest Payments Due:	
Maturity Date =	May 2053	May 1st & November 1st	

Par Amount As Of 9/30/25 =	
$18,565,000		

AMENDED FINAL BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2025 (MAPLE RIDGE) FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2024/2025 BUDGET 10/1/24 - 9/30/25	AMENDED FINAL BUDGET
10/1/24 - 9/30/25	YEAR TO DATE ACTUAL
10/1/24 - 9/29/25	
Interest Income	0	847	847	
Bond Proceeds (2025)	0	121,184	121,184	
Transfer from Construction (2025)	0	0	0	
				
Total Revenues	$	-	$	122,031	$	122,031	
				
EXPENDITURES				
Principal Payments	0	0	0	
Interest Payments	0	0	0	
Bond Redemption	0	0	0	
Total Expenditures	$	-	$	-	$	-	
				
Excess/ (Shortfall)	$	-	$	122,031	$	122,031	

FUND BALANCE AS OF 9/30/24	
FY 2024/2025 ACTIVITY	
FUND BALANCE AS OF 9/30/25	

$0	
$122,031	
$122,031	

Notes
Reserve Fund Balance = $282,883*. Interest Account Balance = $42,156*
Interest Account Balance To Be Used To Make 11/1/2025 Interest Payment Of $41,309. Capitalized Interest Was Set-Up Through November 2025.
Capital Projects Bond Proceeds = $2,123,816. Total Bond Proceeds = $2,245,000. FY 2024/2025 Cost Of Issuance = $201,825.
Construction Fund Balance As Of 9/30/25 = $1,933,860* (Available For Capital Expenditures).
* Approximate Amounts

Series 2025 Bond Information

Original Par Amount =	$2,245,000	Annual Principal Payments Due:	
Interest Rate =	4.15% - 5.95%	May 1st	
Issue Date =	July 2025	Annual Interest Payments Due:	
Maturity Date =

Par Amount As Of 9/30/25 =	May 2055

$2,245,000	November 1st	

RESOLUTION NO. 2025-27

A RESOLUTION OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT ADOPTING A REVISED AMENDED FISCAL YEAR 2024/2025 BUDGET FOR THE MASTER IRRIGATION UTILITY SYSTEM

WHEREAS, the Board of Supervisors of the Ave Maria Stewardship Community District (hereinafter called District) is empowered to impose special assessments upon the properties within the District; and,

WHEREAS, the District Manager has prepared a Revised Amended Budget for fiscal year 2024/2025 for the master irrigation utility system.

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

Section 1.  The Revised Amended Budget for Fiscal Year 2024/2025 for the District’s Master irrigation utility is attached hereto as Exhibit “A” is hereby approved and adopted.

Section 2.	The Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with the intent of this Resolution.
PASSED, ADOPTED and EFFECTIVE this 5th day of November, 2025.

ATTEST:	AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

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

Ave Maria Master Irrigation Utility

Amended Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

AMENDED FINAL BUDGET
AVE MARIA MASTER IRRIGATION UTILITY FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2024/2025 ANNUAL BUDGET	FISCAL YEAR 2024/2025
AMENDED FINAL BUDGET	YEAR TO DATE ACTUAL
10/1/2024 - 9/29/2025	
Ave Maria Utility Revenue (Irrigation)	1,760,626	1,583,145	1,583,145	
Developer Contribution	238,939	238,938	238,938	
Connection Fees	2,700	9,938	9,938	
Installations	141,738	127,844	127,844	
Miscellaneous Revenue	10,416	4,032	4,032	
Interest	0	6,097	6,097	
Peninsula True-Up Of Expenditures	0	0	0	
Total Revenues	$	2,154,419	$	1,969,994	$	1,969,994	
				
EXPENDITURES				
Management Fee	250,247	250,247	250,247	
Electricity	259,394	259,394	259,394	
Labor & Benefits	590,163	590,163	590,163	
Chemicals	1,500	1,500	1,500	
Repairs & Maintenance	167,565	167,565	167,565	
Testing	1,500	1,500	1,500	
Meter Purchase	225,620	225,630	225,620	
Meter Installation	9,971	9,971	9,971	
Other Direct Costs	216,330	216,330	216,330	
Administration Fee	12,000	12,000	12,000	
AMUC Bulk Water Charge (Reclaimed)	420,129	474,263	474,263	
Peninsula True-Up Of Expenditures	0	150,000	0	
Total Expenditures	$	2,154,419	$	2,358,563	$	2,208,553	
				
Excess/ (Shortfall)	$	-	$	(388,569)	$	(238,559)	

FUND BALANCE AS OF 9/30/2024	
PROJECTED FY 2024/2025 ACTIVITY	
PROJECTED FUND BALANCE AS OF 9/30/2025	

$	231,999	
$	(388,569)	
$	(156,570)	

PLEASE SEE PAGE 157 TO VIEW THE FINAL SERIES 2025 ASSESSMENT
METHODOLOGY REPORT – PHASE 5 PROJECT

RESOLUTION 2025-28

A RESOLUTION SETTING FORTH THE SPECIFIC TERMS OF THE DISTRICT’S CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PHASE 5 MASTER IMPROVEMENTS PROJECT); 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 MASTER 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 hearings, Resolution 2006-07 and Resolution 2025-24, relating to the imposition, levy, collection and enforcement of such special assessments; and
WHEREAS, pursuant to and consistent with the terms of Resolutions 2006-07 and 2025- 24, 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 November 5, 2025, the District entered into a Bond Purchase Agreement whereby it agreed to sell its $29,255,000 Capital Improvement Revenue Bonds, Series 2025 (Phase 5 Master Improvements Project) (the “Series 2025 Master Bonds”); and
WHEREAS, pursuant to and consistent with Resolutions 2006-07 and 2025-24, the District desires to set forth the particular terms of the sale of the Series 2025 Master Bonds and confirm the lien of the special assessments securing the Series 2025 Master 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 Resolutions 2006-07 and 2025-24.

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

On August 1, 2006, and October 14, 2025, the District, after due notice and public hearings, adopted Resolutions 2006-07 and 2025-24, which, among other things, equalized, approved, confirmed and levied special assessments on property benefitting from the master infrastructure improvements authorized by the District. Such Resolutions 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 Sixth Sub-Master Supplemental Engineer’s Report for the Ave Maria Stewardship Community District Series 2025 Master Bonds, dated October 14, 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 Master Bonds (the “Phase 5 Master Improvements”). The District hereby confirms that the Phase 5 Master 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 Master Bonds.
The Series 2025 Master Bonds Supplement to the Third Sub-Master Supplemental Assessment Methodology Report for the Ave Maria Stewardship Community District, dated November 5, 2025, attached to this Resolution as Exhibit B (the “Supplemental Assessment Report”), applies the Master Assessment Methodology Report, dated June 12, 2006 as supplemented by the Town of Ave Maria Third Sub-Master Supplemental Assessment Methodology Report, dated October 14, 2025 (together the “Master Assessment Methodology”) for the Ave Maria Stewardship Community District to the Phase 5 Master Improvements and the actual terms of the Series 2025 Master 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 Master Bonds.

The Phase 5 Master Improvements will specially benefit certain developable acreage and platted units within the District, as set forth in the Supplemental Assessment Report (the “Lands”). It is reasonable, proper, just and right to assess the portion of the costs of the Phase 5 Master Improvements financed with the Series 2025 Master Bonds to the specially benefited properties within the District as set forth in Resolution 2006-07, as supplemented by Resolution 2025-24 and this Resolution.

SECTION 3. CONFIRMATION OF MAXIMUM ASSESSMENT LIEN FOR
SERIES 2025 MASTER BONDS. As provided in Resolution 2006-07 and Resolution 2025-24,

this Resolution is intended to set forth the terms of the Series 2025 Master Bonds and the final amount of the lien of the special assessments securing those bonds.

The Series 2025 Master Bonds, in a par amount of $29,255,000 shall bear such rates of interest and maturity as shown on Exhibit C attached hereto. The final payment on the Series 2025 Master Bonds shall be due on May 1, 2056. The sources and uses of funds of the Series 2025 Master Bonds shall be as set forth in Exhibit D. The debt service due on the Series 2025 Master Bonds is set forth on Exhibit E attached hereto. The lien of the Series 2025 Assessments on the Lands shall be the principal amount due on the Series 2025 Master 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 MASTER BONDS.

The Series 2025 Assessments shall be allocated in accordance with Exhibit B which allocation shall initially be on the platted units listed in Exhibit B and 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 Master Bonds. The estimated costs of collection of the Series 2025 Assessments are as set forth in the Supplemental Assessment Report.

The lien of the Series 2025 Assessments includes the Lands, 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 Phase 5 Master Improvements and reallocate the Series 2025 Assessments 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 Sixteenth Supplemental Trust Indenture, the District shall begin annual collection of Series 2025 Assessments for the Series 2025 Master 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 Series 2025 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 described 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 Series 2025 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 Series 2025

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 defined therein). As lands are platted or approved the Series 2025 Assessments securing the Series 2025 Master Bonds shall be allocated to the platted lands and the unplatted lands as set forth this Resolution and the Supplemental Assessment Report. In furtherance thereof, at such time as parcels or land or lots are platted, 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, Resolution 2025-24 and this Resolution. The District Manager shall cause the Series 2025 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 Series 2025 Assessments. The Supplemental Assessment Report is to provide a formula to ensure that the appropriate ratio of the Series 2025 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 Series 2025 Assessments pursuant to this Resolution in excess of the total debt service related to the Phase 5 Master Improvements, 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 Series 2025 Assessments collected in excess of the District's total debt service obligation for the Phase 5 Master Improvements, the Board shall by resolution take appropriate action to equitably reallocate the Series 2025 Assessments. Further, upon the District’s review of the final conveyance for the developable acres, any unallocated Series 2025 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 $29,255,000 in Series 2025 Master 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 Master Bonds only to the credit of the Series 2025 Master Bonds. All True-Up Payments, as well as all other prepayments of assessments, shall be deposited into the accounts specified in the Sixteenth Supplemental Trust Indenture, dated as of November 1, 2025, governing the Series 2025 Master 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, as supplemented by Resolution 2025-24, which remain in full force and effect. This Resolution, Resolution 2006-07, as supplemented by Resolution 2025-24, 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 Master 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 5th day of November, 2025.

ATTEST:	AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

Secretary / Assistant Secretary	Jay Roth, Chairperson

Exhibit A:	Sixth Sub-Master Supplemental Engineer’s Report for the Ave Maria Stewardship Community District Series 2025 Master Bonds, dated October 14, 2025
Exhibit B:	Series 2025 Master Bonds Supplement to the Third Sub-Master Supplemental Assessment Methodology Report for the Ave Maria Stewardship Community District, dated November 5, 2025
Exhibit C:	Maturities and Coupon of Series 2025 Master Bonds
Exhibit D:	Sources and Uses of Funds for Series 2025 Master Bonds
Exhibit E:	Annual Debt Service Payment Due on Series 2025 Master Bonds

Exhibit A

Sixth Sub-Master Supplemental Engineer’s Report for the Ave Maria Stewardship Community District Series 2025 Master Bonds, dated October 14, 2025

SIXTH SUB-MASTER SUPPLEMENTAL ENGINEER'S REPORT
FOR THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT SERIES 2025 MASTER BONDS

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

October 14, 2025

Page 42

OVERVIEW

This Sixth Sub-Master Supplemental Engineer's Report (this "Report") is prepared by LJA Engineering, Inc. ("LJA"), the District Engineer for the Ave Maria Stewardship Community District (the "District"), and supplements that certain Master Capital Improvement Program for Ave Maria Stewardship Community District dated May 2, 2006 (the "Master Report"), for the financing of the construction of master roadway, irrigation, stormwater/drainage, and landscaping improvements expected to be constructed and/or acquired within the boundaries of the District. 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 "Bonds") and by contributions effectuated by Ave Maria Development, LLLP (the "Developer"). The District's anticipated total infrastructure improvements are more fully described in the Master Report. Various modifications to the land use master plan, roadway alignments and infrastructure configurations have occurred as the District continues to develop.

In August 2023, the District issued its Capital Improvement Revenue Bonds, Series 2023 (Phase 4 Master Improvements Project) (the "Series 2023 Master Bonds") in order to finance certain master public infrastructure improvements (the "Phase 4 Master Improvements Project") as more particularly described in the Amended Fifth Sub-Master Supplemental Engineer's Report dated August 1, 2023. The net proceeds of the Series 2023 Master Bonds were insufficient to construct and/or acquire all of the improvements included in the Phase 4 Master Improvements Project and therefore certain of the improvements included in the Phase 4 Master Improvements Project are now contemplated to be financed by the District's Series 2025 Master Bonds (hereinafter defined) and are included as part of the Phase 5 Master Improvements Project (hereinafter defined) as more particularly described in this Report and removed from the Phase 4 Master Improvements Project.

This Report has been prepared to identify the constructed and proposed facilities to be financed by the issuance of the District's Capital Improvement Revenue Bonds, Series 2025 (Phase 5 Master Improvements Project) (the "Series 2025 Master Bonds") and to present estimated costs and permit status.

Authorization

This Report was prepared at the direction of the District 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 to be financed by the Series 2025 Master Bonds including land acquisition costs for road rights-of-way and water management, portions of the Phase 4 Master Improvements Project not financed with proceeds of the Series 2023 Master Bonds, and related portions of the professional services and fees (collectively, the "Phase 5 Master Improvements Project"), all of which improvements are located within the boundaries of the District, collectively referred to as the "Ave Maria SRA." The various components of the Phase 5 Master Improvements Project are listed below.

The remaining construction of Anthem Parkway Phase 5 is the northwesterly extension of Anthem Parkway from Pope John Paul II Boulevard to North Park/Water Park near Ave Maria Boulevard. The total length of the two-lane divided highway (expandable to four-lanes) will be approximately 7,940 feet. Other features include drainage, irrigation, dry utilities, landscaping, lighting, and sidewalks. A 3-acre, lined irrigation lake with an associated pump station and supply wells is also included with the project. The intersection at Pope John Paul II Boulevard and Anthem Parkway will be replaced with a multi-lane roundabout. The first phase of construction, Phase 5A is nearly complete. The second phase of construction, Phase 5B began in the spring. The target completion date for construction is early-2026.

A portion of the Arthrex Commerce Park Drive Phase 2 project has been completed which included approximately 350 feet of urban two-lane roadway to the north and other associated roadway components including drainage, irrigation, and landscaping. The remainder of the project is installation and construction of a

berm approximately 1,150 feet in length extending from the end of the roadway to the west. The target completion date for is mid-2026.

Installation of street lighting along Oil Well Road at the entrance to Ave Maria Boulevard. The lights extend from the entrance approximately 1,000 linear feet in each direction, 24 in total. Includes conduit, pull boxes, load centers, and all associated wiring. Construction was completed in early 2025.

Construction of approximately 4,200 linear feet of 6-inch irrigation main along the north side of Peek Way (fka Massa Way) from Ave Maria Boulevard to Agostino Way. This project also includes gate valves, irrigation valves, fittings, and associated items to tie into the existing irrigation main along Ave Maria Boulevard. The project was completed in late 2024.

Arthrex Commerce Park Phase 3 is located to the east of Arthrex Commerce Drive and south of Arthrex Commerce Park Phase 2. The total length of the two- lane roadway will be approximately 3,750 feet connecting Arthrex Commerce Drive to Ave Maria Boulevard. Other features include drainage, irrigation, dry utilities, lighting, landscaping, and sidewalks. Three water management lakes totaling approximately 12.2 acres are also included in the project. Construction plans have been submitted for permitting.
Arthrex Commerce Park Phase 2 is located to the east of Arthrex Commerce Drive. The project is comprised of a lake approximately 9.6 acres in size along with a berm along the northern perimeter of the lake extending a distance of 2,800 feet. Lake excavation is complete. The berm and landscaping is anticipated to be complete in early 2026.

The Ave Maria Boulevard Utility Extension will extend irrigation mains across Ave Maria Boulevard, at two locations to tie into Arthrex Commerce Park, from the existing 6" irrigation main on the east side of the roadway to the west side of the roadway. The 10" irrigation mains will be installed by directional drilling.

The total length of directional drilling is approximately 300 feet. Construction began late summer and will be completed by the end of the year.

Install landscaping along Oil Well Road berm for a length of 3,200 feet from Arthrex Commerce Drive to the western entry feature at Ave Maria Boulevard. The project included over 200 trees and various shrubs and groundcover to complement the tree plantings. The project was completed in November 2024.

Median improvements for Anthem Parkway Phases 1-3, from Ave Maria Boulevard north to just past roundabout at Brigata Way/Rimini Avenue for a length of approximately 7,105 feet. Improvements widened the roadway 3.5 feet in the median and added concrete Type A Curb and Gutter, milled the existing portion of the pavement and overlayed the entire roadway to provide a continuous, finished asphalt surface. The purpose of the widening is to prevent vehicles from leaving the roadway and rutting the existing landscape median. This project has been completed.

The 2025 Stormwater Improvements will be ancillary to other construction projects throughout the District. As new projects are constructed it may be necessary to modify existing drainage components and/or add additional drainage features to ensure that the overall stormwater management system functions as intended and permitted through Collier County and South Florida Water Management District (SFWMD).

This Report is intended to be used as a representation of the 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 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 Phase 5 Master Improvements Project to be financed by the Series 2025 Master Bonds is wholly contained within the boundary of the District, except for the Oil Well Road Street Lighting project that is outside the District boundaries but was required by Collier County agreement/development approval requirements and the District has an interlocal agreement to operate, maintain, and repair. 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 Phase 5 Master Improvements Project consists of approximately 128.73 acres. The table below documents the anticipated component projects' land use plan.

	Land Use Descriptions	Measurement Units	Total	
1.	Anthem Parkway Phase 5	Acres	30.20	
2.	
Arthrex Commerce Park Drive Phase 2	Acres	1.67	
3.	
Oil Well Road Street Lighting	Acres	N/A	
4.	Peek Way (fka Massa Way) Irrigation	Acres	N/A	

5.	Arthrex Commerce Park - Phase 3	Acres	78.70	
6.	Arthrex Commerce Park - Phase 2	Acres	18.16	
7.	Ave Maria Blvd. Utility Extension	Acres	N/A	
8.	Oil Well Canal Berm Landscaping	Acres	N/A	

9.	Anthem Parkway Phase 1, 2 and 3	Acres	N/A	
10.	2025 Stormwater Improvements	Acres	N/A	
				
	TOTAL	Acres	128.73	

INFRASTRUCTURE BENEFIT

The District will provide funding, maintenance, and operation of the public infrastructure projects to be financed by the Series 2025 Master Bonds through its limited, single, and specialized purpose. These master public infrastructure improvements include public roadways, roadway intersection improvements, stormwater management, irrigation water transmission facilities and landscaping improvements that work in conjunction with the existing improvements as an interrelated system of improvements that will serve the entire District.

The proposed infrastructure improvements identified in this Report are intended to provide specific comprehensive public services to the District located 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's Engineer that such infrastructure meets or exceeds the construction standards of the District and is therefore worthy of acquisition.

INFRASTRUCTURE IMPROVEMENTS

The proposed infrastructure improvements addressed by this Report are master infrastructure elements that will extend basic services to various land uses located within the District. Exhibit A shows the location of the subject improvements. The infrastructure

elements include the cost of stormwater management, public roadways, lighting, 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 stormwater management facilities within the roadway sections of Anthem Parkway Phase 5 and Arthrex Commerce Drive consist of interconnecting pipes, drainage inlets, and control structures. Water management lakes are included in Arthrex Commerce Park Phases 2 and 3. These features provide both stormwater detention and water quality improvements. Additional drainage modifications will be added as necessary with the 2025 Stormwater Improvements project. All these projects will function as an integral part of the overall Ave Maria Stewardship Community District comprehensive water management system. These improvements will be designed to meet the permit criteria of the South Florida Water Management District (SFWMD) and Collier County Development Services. Refer to Exhibit A for the location of the drainage and water management facilities.

Roadways
Exhibit A shows the location of the Anthem Parkway Phases 1-3, Anthem Parkway Phase 5, and Arthrex Commerce Park Phase 3 roadway improvements to be acquired and constructed. The subject roadway and intersection improvements consisting of drainage systems, fill material, stabilized subgrade, lime rock base, asphalt surfaces, sidewalks, signing, marking, lighting, irrigation and landscaping, and will be maintained by the District. Anthem Parkway Phase 5 and Arthrex Commerce Park Phase 3 will be constructed within platted rights-of-way consisting of approximately
34.21 acres which will be dedicated to the District for maintenance and operation. Anthem Parkway Phases 1-3 Median Improvements was a reconstruction project and occurred within areas previously acquired by the District. The Oil Well Road Lighting project will consist of street lighting only which was constructed in Collier

County right-of-way.	The District will provide maintenance and operation of the lights per an agreement with Collier County.

Landscaping

New roadway landscaping will be provided for Anthem Parkway Phase 5, Arthrex Commerce Park Phase 2, Arthrex Commerce Park Phase 3 and Oil Well Canal Berm Landscaping. The landscaping will consist of sod, shrubs, groundcover, trees, lighting, and irrigation systems. Anthem Parkway Phases 1-3 Median Improvements is a reconstruction project which involves minor landscape adjustments to sod, shrubs, groundcover, trees, and irrigation piping. These costs have been included within each project.

Master Irrigation System

A Master Irrigation System will be constructed as part of Anthem Parkway Phase 5, Peek Way (fka Massa Way) Irrigation Arthrex Commerce Park Phase 3, and the Ave Maria Boulevard Utility Extension projects. The system will be comprised of a transmission/distribution system which will send reclaimed water to several service areas. As part of Anthem Parkway Phase 5, a 4-acre lined irrigation lake with pump station and supply wells will be constructed. 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 project. Refer to Exhibit A for the master irrigation system facilities locations.

Professional Services and Permitting Fees

Permit review fees may be required by Collier County, SFWMD, Florida Department of Environmental Protection (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 proposed improvements. Additionally, engineering, surveying, 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 Construction Costs

The total estimated construction cost of $26,174,667.00 is shown in Exhibit B.

PERMITS

All conditions of the zoning ordinance and the SRA Development Order are currently being complied with. In addition to the permits previously 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 Phase 5 Master Improvements 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 improvements as presented herein and that all permits not heretofore issued and which are necessary to construct 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 infrastructure 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 provide the District's estimated project costs and the permit status and to define the scope of the Phase 5 Master Improvements Project. 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 Board. 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 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 Phase 5 Master Improvements Project are reasonable to complete the construction of the proposed infrastructure improvements described herein and that these infrastructure improvements will benefit and add value to the land within the District as more fully detailed in the Assessment Methodology Report. 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 guaranteed 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 the 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 cost 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 2025.10.15 14:15:41-04'00'
Printed Copies of this document are not considered signed and sealed and the signature must be verified on any electronic copies.

Edward F. Tryka III, P.E. District Engineer

State of Florida Registration No. 60284 October 14, 2025

APPENDIX

Exhibit A - Infrastructure Location Maps

Exhibit B - Opinion of Probable Costs

Exhibit C - Permit Status

EXHIBIT A
Infrastructure Location Maps

INFRASTRUCTURE LOCATION MAP

1" = 2000'
Ave Maria 2025 Bonds_Exhibit Layout.dwg - 10/15/25

A-2

A-5 & A-6

A-4

4

A-1

A-8

66

9

Page 56

8

7

A-3

AVE MARIA BLVD A-7

CAMP KEAIS RD
Page 14

ANTHEM PARKWAY - NORTH

DESCRIPTION	IDENTIFICATION PROJECT AREA
IRRIGATION
ROADWAY TRACT

Ac. ± 30.20

30.20

LF

7,940

Page 57

Page 15

IRRIGATION LAKE	2.97
ANTHEM PARKWAY - PHASE 5

1" = 750'
Anthem Parkway Phase V & Monument Singage.dwg - 10/15/25
EXHIBIT A PROJECT 1 OF 9

60'

 	

BERM TRACT: 1.67Ac.

Page 58

Page 16

ARTHREX COMMERCE DR PHASE 2

1" = 150'

Arthrex Commerce Park DR

Arthrex Commerce Park.dwg - 10/15/25
EXHIBIT A PROJECT 2 OF 9

Page 59

LIGHT POLE (TYP.)

CONDUIT (TYP.)

OIL WELL ROAD STREET LIGHTING

Page 17

1" = 250'
Oil Well Rd Lighting & Berm Improvements.dwg - 6/2/25
EXHIBIT A PROJECT 3 OF 9

Page 60

PEEK WAY (FKA MASSA WAY) IRRIGATION: 4,166LF

PEEK WAY (FKA MASSA WAY) IRRIGATION

Page 18

1" = 250'
Anthem Parkway Phase V & Monument Singage.dwg - 10/15/25
EXHIBIT A PROJECT 4 OF 9

DESCRIPTION PHASE 3 PROJECT AREA
LAKE

PHASE 3
IDENTIFICATION

Ac. ±	LF 78.70
12.16

Oil Well Rd

ASPHALT/ROADWAY	 IRRIGATION

4.01

8,073

Page 61

Arthrex Commerce Park DR

ARTHREX COMMERCE PARK PHASE 3

Page 19

1" = 400'
Arthrex Commerce Park.dwg - 10/15/25
EXHIBIT A PROJECT 5 OF 9

PHASE 2 BERM

Arthrex Commerce Park DR

LAKE AREA: 9.56Ac.

Page 62

PHASE 2 PROJECT AREA: 18.16Ac.

Oil Well Rd

ARTHREX COMMERCE PARK PHASE 2

Page 20

1" = 400'
Arthrex Commerce Park.dwg - 10/15/25
EXHIBIT A PROJECT 6 OF 9

IRRIGATION DIRECTION DRILL (10" MAIN): 140LF

Page 63

IRRIGATION DIRECTION DRILL (10" MAIN): 150LF

AVE MARIA BLVD UTILITY EXTENSION

Page 21

1" = 200'
Anthem Parkway Phase V & Monument Singage.dwg - 10/15/25
EXHIBIT A PROJECT 7 OF 9

Page 64

BERM LANDSCAPE LENGTH: 3,200LF

OIL WELL ROAD CANAL BERM LANDSCAPING

Page 22

1" = 350'
Oil Well Rd Lighting & Berm Improvements.dwg - 10/15/25
EXHIBIT A PROJECT 8 OF 9

PHASE 1

DESCRIPTION	IDENTIFICATION	Ac. ±	LF	
PHASE 1 BOUNDARY		13.33		
NEW PAVEMENT & CURB			4,795	
MILL & OVERLAY	
PHASE 2	3.65		
DESCRIPTION	IDENTIFICATION	Ac. ±	LF	
PHASE 2 BOUNDARY		7.35		
NEW PAVEMENT & CURB			4,675	
MILL & OVERLAY	
PHASE 3	1.76		
DESCRIPTION	IDENTIFICATION	Ac. ±	LF	
PHASE 3 BOUNDARY		2.74		
NEW PAVEMENT & CURB			808	
MILL & OVERLAY		.81		

Page 65

PHASE 1

PHASE 2

PHASE 3

Page 23

ANTHEM PARKWAY - PHASE 1, 2 &3

1" = 600'
Anthem Parkway Phase V & Monument Singage.dwg - 10/15/25
EXHIBIT A PROJECT 9 OF 9

EXHIBIT B
Opinion of Probable Costs

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

10/14/2025

1. Anthem Parkway Phase 5	$14,879,169.00	
		
2. Arthrex Commerce Park Drive Phase 2	$125,493.00	
		
3. Oil Well Road Street Lighting	$54,190.00	
		
4. Peek Way (fka Massa Way) Irrigation	$250,000.00	
		
5. Arthrex Commerce Park - Phase 3	$6,720,000.00	
		
6. Arthrex Commerce Park - Phase 2	$1,500,000.00	
		
7. Ave Maria Blvd. Utility Extension	$215,000.00	
		
8. Oil Well Canal Berm Landscaping	$375,623.00	
		
9. Anthem Parkway Phase 1, 2 and 3	$104,164.00	
		
10. 2025 Stormwater Improvements	$204,615.00	
		
TOTAL SCOPE OF WORK	$24,428,254.00	
		
7% Contingency	$1,746,413.00	
		
PROJECT TOTAL	$26,174,667.00	

EXHIBIT C
Permit Status

Permitting Agency	Permit Name	Permit No./ID	Issue Date	
Anthem Parkway Phase SA	
Collier County	Plans and Plat (PPL)	PL20220004186	Approved; partially certified	
Collier County	Insubstantial Changes to Construction Plans (ICP)	PL20250002198	Approved	
Collier County	Early Work Authorization (EWA)	PL20230014140	Approved	
Collier County	Construction Plan Phasing (CPP1)	PL20240002409	Approved	
Collier County	Construction Plan Phasing (CPP2)	PL20250002091	Approved	
SFWMD	ENVIRONMENTAL RESOURCE PERMIT (ERP)	11-109568-P	Approved; partially certified	
FDEP	Construction of Water Main Extension	353996-032-DSGP	Certified	
FDEP	Construction of a Wastewater Collection System	249396-092-DWC	Certified	
Ave Maria Utility Company (AMUC)	Utility Construction Permit	001-23	Preliminary Certification Approved	
Anthem Parkway Phase SB	
Collier County	Plans and Plat (PPL)	PL20220004185	Approved	
Collier County	Early Work Authorization (EWA)	PL20250002070	Approved	
SFWMD	ENVIRONMENTAL RESOURCE PERMIT (ERP)	11-112277-P	Approved	
FDEP	Water (General)	0353996-042	Approved	
FDEP	Water (Individual)	353996-041-DS	Approved	
FDEP	Wastewater	249396-102-DWC	Approved	
Ave Maria Irrigation Pond (IPS4) & Master AMUC Lift Station	
Collier County	Site Development Plan (SDP)	PL20240014242	Approved	
Collier County	Early Work Authorization (EWA)	PL20250002785	Approved	
Collier County	Excavation	PL20250002740	Approved	
SFWMD	ENVIRONMENTAL RESOURCE PERMIT (ERP)		Approved	
FDEP	Wastewater		Approved	
Ave Maria Utility Company (AMUC)	Utility Construction Permit	003-25	Approved	
Collier County	Site Development Plan Insubstantial
Change (SDPI)	PL20250010730	Under Review	

Permitting Agency	Permit Name	Permit No./ID	Issue Date	
Arthrex Commerce Park Phase 3	
Collier County	Plans and Plat (PPL)	PL20250000516	In Review	
Collier County	Construction (CNSTR)	PL20240009707	Approved; under construction	
Collier County	Insubstantial Changes to
Construction Plans (ICP)	PL20250004465	Approved	
Collier County	Early Work Authorization (EWA)	PL20240012976	Approved	
Collier County	Excavation (1st)	PL20240012975	Approved	
Collier County	Excavation (2nd)	PL20250006619	Approved	
SFWMD	ENVIRONMENTAL RESOURCE PERMIT (ERP) (CNSTR)	11-111862-P	Approved; under construction	
SFWMD	ENVIRONMENTAL RESOURCE PERMIT
(ERP) (PPL)		Pending submittal	
FDEP	Water		Pending submittal	
FDEP	Wastewater		Pending submittal	
Ave Maria Utility
Company (AMUC)	Utility Construction Permit		In Review	
Arthrex Commerce Park Phase 2	
Collier County	Plans and Plat (PPL)	PL20230008595	Approved; pending preliminary
certification	
Collier County	Early Work Authorization (EWA)	PL20230015008	Approved	
Collier County	Excavation	PL20230015010	Approved; pending certification	
SFWMD	ENVIRONMENTAL RESOURCE PERMIT (ERP)	11-109330-P	Approved; pending certification	
Ave Maria Utility
Company (AMUC)	Utility Construction Permit	003-23	Approved; pending certification	
FDEP	Water	353996-034-DSGP/02	Certified	
FDEP	Wastewater	249396-093-DWC	Certified	
Ave Maria Blvd. Utility Extension	
Ave Maria Utility
Company (AMUC)	Utility Construction Permit	006-25	Approved	
FDEP	Water		Approved	
FDEP	Wastewater		Approved	

Exhibit B

Series 2025 Master Bonds Supplement to the Third Sub-Master Supplemental Assessment Methodology Report for the Ave Maria Stewardship Community District,
dated November 5, 2025

Exhibit C

Maturities and Coupon of Series 2025 Master Bonds

Exhibit D

Sources and Uses of Funds for Series 2025 Master Bonds

Exhibit E

Annual Debt Service Payment Due on Series 2025 Master 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 MASTER BONDS]

Board of Supervisors and Officers1

Jay Roth Chairman

Thomas DiFlorio Vice Chairman

Nick Casalanguida Board Member

Robb 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 November 5, 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.1 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

1 Note the District authorized pursuit of state legislation during the 2026 legislative session to amend the District’s boundaries to remove approximately 1,001 acres to bring the District boundaries back to the original 10,805.08 acres.
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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 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 or publicly available website in accordance with Florida law 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 currently encompass approximately 11,806 acres of land located in Collier County. The legal description of the land currently encompassed within the District is attached hereto as Exhibit A. However the District anticipates the District’s boundary may be amended during the 2026 session of the Florida Legislature to remove approximately 1,001 acres from the District’s boundary. 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
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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.

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.
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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.

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
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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 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.
On November 12, 2025, the District issued $29,255,000 Ave Maria Stewardship Community District Capital Improvement Revenue Bonds, Series 2025 (Phase 5 Master Improvements Project) (the “Series 2025 Master 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 Master Bonds; (3) making a deposit into the Reserve Account for the benefit of all of the Series 2025 Master Bonds and (4) paying a portion of the interest to become due on the Series 2025 Master 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, Series 2023 Bonds, Series 2025 Neighborhood Bonds, and Series 2025 Master Bonds. The Series 2022A Bonds refinanced and refund the Series 2012 Bonds, resulting in a reduction in the special assessment amounts for
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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:

Product Type	Series 2015 Maximum Annual Assessment Level Per Unit	
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	
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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 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	

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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 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	
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	

The current maximum annual debt assessments for the Series 2025 Master Bonds per unit within the Phase 5 Master Improvements Project are as follows:

Product Type	Series 2025 Master Bonds Maximum Annual Assessment
Level Per Unit	
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Single Family	$1,600.00	
Multi Family	$832.00	

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

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 November, 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 November, 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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Ave Maria
Stewardship Community District

MEMORANDUM

To:	Board of Supervisors
From: Allyson Holland, P.E., District Manager
Date: October 6, 2025
Board Meeting Date:	November 5, 2025

SUBJECT

Consider approval of Agreement with England, Thims & Miller, Inc. to continue to provide asset management software, programming, and support services for the Ave Maria Stewardship Community District, and consider approval of First Amendment to the Memorandum of Understanding with Ave Maria Utility Company.

STAFF RECOMMENDATION

Staff recommends approval of the Agreement with England, Thims & Miller, Inc. to continue to provide asset management software, programming, and support services for the Ave Maria Stewardship Community District and consider approval of First Amendment to the Memorandum of Understanding with Ave Maria Utility Company.

GENERAL INFORMATION
The Ave Maria Stewardship Community District (District), in coordination with the Ave Maria Utility Company, LLLP (AMUC), has been working with England, Thims, & Miller, Inc. (ETM) to provide GIS and Asset Management Consulting Services for over two years. ETM provides system optimization, data management, training & support, operational process review, and system administration. Over the past two years, ETM and District staff have had onsite sessions to gather information and provide onsite training. ETM developed asset management software that District employees have been using to track repairs and maintenance. ETM has been instrumental in system optimization, data management, and providing training and support. Continued consulting services and support with ETM will make this process seamless.
Staff requests the Board’s approval of the agreement with ETM to continue to provide ongoing consulting services to support GIS and Asset Management needs. The contract includes system optimization, data management, training & support, operational review process, system administration, configurations support, and other GIS or asset management support at the request of the District. The agreement is for one year/twelve months of services, beginning in December 2025 and ending in November 2026.

Staff budgeted $140,000 in the adopted FY 2025/2026 budget to operate and maintain the asset management software and licensing. Funding ETM’s agreement in the amount of $130,000 is within the O&M budget for this service. Staff also requests the Board’s approval of the First 1

Ave Maria
Stewardship Community District

MEMORANDUM

Amendment to the Memorandum of Understanding with AMUC for the District’s shared costs for software and licensing fees in the amount of $9,116.42 for this fiscal year, such may be adjusted annually to account for each entity’s proportionate use of the software.

PROCUREMENT REVIEW
The agreement is in accordance with Chapter 2004-461, Laws of Florida
DISTRICT ENGINEER REVIEW
Not applicable.

DISTRICT LEGAL COUNSEL REVIEW

The District Legal Counsel has reviewed and approved the agreement for legal form and sufficiency for non-engineering, asset management services. District Legal Counsel has also reviewed and approved the First Amendment to the Memorandum of Understanding.

FUNDING REVIEW
Funding is within the budgeted amount in the FY25/26 Adopted Operating & Maintenance Budget.

Attachments

2

AGREEMENT BETWEEN THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT AND ENGLAND-THIMS & MILLER, INC., FOR GIS AND ASSET MANAGEMENT CONSULTING SERVICES

THIS AGREEMENT (the “Agreement”) is made and entered into this    day	of November, 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, (the “Act”) and located in Collier County, Florida, with a mailing address of 2501A Burns Road, Palm Beach Gardens, Florida 33410 (the “District”), and

England-Thims & Miller, Inc., a Florida corporation, with a mailing address of 14775 Old St. Augustine Road, Jacksonville, Florida 32258 (the “Consultant”, together with the District, the “Parties”).

RECITALS

Whereas, the District was established for the purpose of planning, financing, constructing, operating and/or maintaining certain infrastructure improvements, facilities and services within and without the boundaries of the District; and

WHEREAS, the District has a need to retain a consultant to provide geographic information system (“GIS”) and asset management consulting services, all as set forth in Exhibit A (the “Services”); and
Whereas, the Consultant represents that it is licensed, qualified and capable of providing the Services, such services are not within the scope of Section 287.055, Florida Statutes, governed by the Consultants’ Competitive Negotiation Act, and has agreed to provide such services for the District in accordance with the terms of this Agreement; and

Whereas, the District and Consultant warrant and agree that they have all right, power and authority to enter into and be bound by this Agreement.
Now, therefore, for and in consideration of the mutual covenants herein contained, and the acts and deeds to be performed by the Parties and the payments by the District to the Consultant of the sums of money herein specified, it is mutually covenanted and agreed as follows:
ARTICLE 1. INCORPORATION OF RECITALS. The recitals stated above are true and correct and by this reference are incorporated as a material part of this Agreement.

ARTICLE 2. DESCRIPTION OF WORK AND SERVICES. The duties, obligations, and responsibilities of the Consultant are to provide the services, labor and materials described in the attached Exhibit A which is incorporated herein by this reference.

ARTICLE 3. COMPENSATION. Consultant shall perform the Services identified in

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Section 2 herein as set forth in Exhibit A. As compensation for the Services the District agrees to pay Consultant based on the hourly compensation rates and materials, as set for in Exhibit A, with a total amount not to exceed One Hundred Thirty Thousand Dollars ($130,000.00). Payment shall be due monthly upon submission of a monthly invoice as set forth herein. This payment includes, but is not limited to, all materials and labor necessary to complete the Services as described herein. Consultant agrees to render each monthly invoice to the District, in writing, which shall be delivered or mailed to the District. The District shall pay the Consultant in accordance with the Prompt Payment Act. No additional services shall be provided by the Consultant unless done at the direction of the District in writing.

ARTICLE 4. RESERVED

ARTICLE 5. INDEPENDENT CONTRACTOR. In all matters relating to this Agreement, the Consultant shall act as an independent contractor. Neither the Consultant nor employees of the Consultant, if there are any, are employees of the District under the meaning or application of any federal or state unemployment or insurance laws or Old Age Laws or otherwise. The Consultant agrees to assume all liabilities or obligations imposed by any one or more of such laws with respect to employees of the Consultant, if there are any, in the performance of this Agreement. The Consultant shall not have any authority to assume or create any obligation, express or implied, on behalf of the District and the Consultant shall have no authority to represent the District as an agent, employee, or in any other capacity, unless otherwise set forth in this Agreement.

ARTICLE 6. TERM OF AGREEMENT. This Agreement shall become effective as of the date first written above, the Services shall commence on December 1, 2025, and shall terminate November 30, 2026, , unless terminated earlier or otherwise renewed or extended in accordance with the terms of this Agreement.
ARTICLE 7. OWNERSHIP OF DOCUMENTS.

All rights in and title to all plans, drawings, specifications, ideas, concepts, designs, sketches, models, programs, software, creation, inventions, reports, or other tangible work product originally developed by Consultant pursuant to this Agreement (the “Work Product”) shall be and remain the sole and exclusive property of the District when developed and shall be considered work for hire upon payment in full for said Work Product.
The Consultant shall deliver all Work Product to the District upon completion thereof unless it is necessary for Consultant, in the District’s sole discretion, to retain possession for a longer period of time. Upon early termination of the Agreement, the Consultant shall deliver all such Work Product whether complete or not to the extent said Work Product has been paid for in full. The District shall have all rights to use any and all Work Product. Consultant shall retain copies of the Work Product for its permanent records, provided the Work Product is not used without the District’s prior express written consent.

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Upon termination of this Agreement, Consultant shall export all Work Product to from its systems and deliver to the District to the extent paid for in full.

Transfer of Work Product shall be contingent upon payment for Services rendered in accordance with the requirements of this Agreement.

ARTICLE 8. INSURANCE.

The Consultant shall, at its own expense, maintain insurance during the performance of the Services pursuant to this Agreement, with limits of liability not less than the following:
Workers Compensation	Statutory General Liability
Bodily Injury	$1,000,000 (including Contractual)
Property Damage	$1,000,000 (including Contractual)

Automobile Liability	Combined Single Limit $1,000,000 Bodily Injury / Property Damage

Cyber Security	$5,000,000 (aggregate)
Professional Liability	$10,000,000 (per claim)
$15,000,000 (aggregate)

The District and its supervisors, officers and professional staff shall be named as an additional insured party on the General Liability and Automobile Liability, policies only. Consultant shall furnish the District with the Certificate of Insurance evidencing compliance with this requirement. No certificate shall be acceptable to the District unless it provides that any change or termination within the policy periods of the insurance coverage, as certified, shall not be effective within thirty
(30) days of prior written notice to the District. Insurance coverage shall be from a reputable insurance carrier, licensed to conduct business in the state of Florida. At no time shall Consultant be without insurance in the above amounts. Consultant shall, without interruption, maintain the aforementioned insurance for professional liability for errors and omissions for at least five (5) years after the completion or termination of this Agreement.
If Consultant fails to have secured and maintained the required insurance, the District has the right (without any obligation to do so, however), to secure such required insurance in which event, Consultant shall pay the cost for that required insurance and shall furnish, upon demand, all information that may be required in connection with the District’s obtaining the required insurance.

3

ARTICLE 9. NOTICES. All notices, requests, consents and other communications under this Agreement (the “Notices”) shall be in writing and shall be delivered, mailed by First Class Mail, postage prepaid, or overnight delivery service, to the Parties, as follows:

If to District:	Ave Maria Stewardship Community District
2501A Burns Road
Palm Beach Gardens, Florida 33410 Attn: District Manager

With a copy to:	Kutak Rock LLP
107 West College Avenue Tallahassee, Florida 32301 Attn: District Counsel

If to the Consultant:	England-Thims & Miller, Inc.
14775 Old St. Augustine Road Jacksonville, Florida 32258 Attn: 	

Except as otherwise provided in this Agreement, any Notice shall be deemed received only upon actual delivery at the address set forth above. Notices delivered after 5:00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non-business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized by the United States government shall not be regarded as business days. Counsel for the District and counsel for the Consultant may deliver Notice on behalf of the District and the Consultant. Any party or other person to whom Notices are to be sent or copied may notify the other Parties and addressees of any change in name or address to which Notices shall be sent by providing the same on five (5) days written notice to the Parties and addressees set forth herein.
ARTICLE 10. INDEMNIFICATION.
Consultant agrees to indemnify and hold the District and the District’s officers and employees harmless from liabilities, damages, losses, and costs, which may come against the District and the District’s officers and employees arising out of or resulting from negligent acts, errors, or omissions of Consultant, or its employees. Such indemnification is limited to claims insured under Consultant’s Professional Liability Policy and does not arise until a court of competent jurisdiction determines Consultant, or its employees, failed to meet the standard of care for professional services under this Agreement. Consultant’s indemnification of the District shall be proportionate solely to Consultant’s share of fault.

The Consultant hereby acknowledges, agrees, and covenants that nothing in this Agreement shall constitute or be construed as a waiver of the District’s sovereign

4

immunity pursuant to section 768.28, Florida Statutes, or other statute or law. This Article shall survive any termination of this Agreement.

ARTICLE 11. NEGOTIATION AT ARM’S LENGTH. This Agreement has been negotiated fully between the Parties as an arm’s length transaction. The Parties participated fully in the preparation of this Agreement and received the advice of counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, all Parties are deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any party.

ARTICLE 12. ENFORCEMENT. A default by either party under this Agreement shall entitle the other party to all remedies available at law or in equity, which shall include, but not be limited to, the right of damages, injunctive relief and specific performance.

ARTICLE 13. ENTIRE AGREEMENT; CONFLICT. This instrument shall constitute the final and complete expression of the agreement between the Parties relating to the subject matter of this Agreement. To the extent that the provisions of Exhibit A conflict with the terms provided in this Agreement, the terms of this Agreement shall control.

ARTICLE 14. AMENDMENT. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by both of the Parties hereto.

ARTICLE 15. PUBLIC RECORDS. Consultant understands and agrees that all documents of any kind provided to the District in connection with this Agreement may be public records, and, accordingly, Consultant agrees to comply with all applicable provisions of Florida law in handling such records, including but not limited to Section 119.0701, Florida Statutes. Consultant acknowledges that the designated public records custodian for the District is Allyson Holland (the “Public Records Custodian”). Among other requirements and to the extent applicable by law, the Consultant shall 1) keep and maintain public records required by the District to perform the service; 2) upon request by the Public Records Custodian, provide the District with the requested public records or allow the records to be inspected or copied within a reasonable time period at a cost that does not exceed the cost provided in Chapter 119, Florida Statutes; 3) ensure that public records which are exempt or confidential, and exempt from public records disclosure requirements, are not disclosed except as authorized by law for the duration of the contract term and following the contract term if the Consultant does not transfer the records to the Public Records Custodian of the District; and 4) upon completion of the contract, transfer to the District, at no cost, all public records in Consultant’s possession or, alternatively, keep, maintain and meet all applicable requirements for retaining public records pursuant to Florida laws. When such public records are transferred by the Consultant, the Consultant shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. All records stored electronically must be provided to the District in a format that is compatible with Microsoft Word or Adobe PDF formats.
IF	THE	CONSULTANT	HAS	QUESTIONS	REGARDING	THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE

5

CONSULTANT’S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (239) 398-8910, AHOLLAND@SDSINC.COM, OR AT 2501A BURNS ROAD, PALM BEACH GARDENS, FLORIDA 34105.

ARTICLE 16. EMPLOYMENT VERIFICATION. The Consultant agrees that it shall bear the responsibility for verifying the employment status, including but not limited to the requirements under the provisions of the Immigration Reform and Control Act of 1986 and Section 448.095, Florida Statutes, as each are amended and supplemented, of all persons it employs in the performance of this Agreement

ARTICLE 17. CONTROLLING LAW AND VENUE. Consultant and the District agree that this Agreement shall be controlled and governed by the laws of the State of Florida. Jurisdiction and venue for any proceeding with respect to this Agreement shall be in Collier County, Florida.

ARTICLE 18. TERMINATION. The District shall have the right to terminate this Agreement immediately due to Consultant’s failure to perform in accordance with the terms of this Agreement or for any reason with ten (10) days written notice to the Consultant. Consultant shall have the right to terminate this Agreement upon ten (10) days written notice mailed to the District at the address written above stating a failure of the District to perform in accordance with the terms of this Agreement. The Parties shall be afforded a reasonable opportunity to cure such defect. Upon termination, and as the Consultant’s sole and exclusive remedy for any termination hereunder, Consultant is entitled to payment for the portion of the Services performed up to the date of termination, but subject to any offsets the District may have against such amounts as the Consultant’s sole remedy for recovery under this Agreement.
ARTICLE 19. CONTINGENT FEE. The Consultant warrants that it has not employed or retained any company or person, other than a bona fide employee working solely for the Consultant, to solicit or secure this Agreement and that it has not paid or agreed to pay any person, company, corporation, individual, or firm, other than a bona fide employee working solely for the Consultant, any fee, commission, percentage, gift, or other consideration contingent upon or resulting from the award or making of this Agreement.

ARTICLE 20. CONFLICTS OF INTEREST. The Consultant shall bear the responsibility for acting in the District’s best interests, shall avoid any conflicts of interest and shall abide by all applicable ethical canons and professional standards relating to conflicts of interest.

ARTICLE 21. CARE OF THE PROPERTY. Consultant shall use all due care to protect the property of the District, its residents, landowners, paid users, and authorized guests from damage by Consultant or its employees or agents. Consultant agrees to repair any damage resulting from Consultant’s activities and work within seventy-two (72) hours.

ARTICLE 22. COMPLIANCE WITH GOVERNMENTAL REGULATIONS. The
Consultant shall reasonably keep, observe, and perform all requirements of applicable local, State

6

and Federal laws, rules, regulations, ordinances, permits, licenses, or other requirements or approvals. Further, the Consultant shall notify the District in writing within five (5) days of the receipt of any notice, order, required to comply notice, or a report of a violation or an alleged violation, made by any local, State, or Federal governmental body or agency or subdivision thereof with respect to the services being rendered under this Agreement or any act or omission of the Consultant or any of its agents, servants, employees, or material men, or appliances, or any other requirements applicable to provision of the Services. Additionally, the Consultant shall promptly comply with any requirement of such governmental entity after receipt of any such notice, order, request to comply notice, or report of a violation or an alleged violation.

ARTICLE 23. COMPLIANCE WITH PROFESSIONAL STANDARDS.

The Consultant shall be solely responsible for the means, manner, and methods by which its duties, obligations and responsibilities are met. The District agrees that the standard of care for all of Consultant’s professional and related services performed under this Agreement shall be the care and skill ordinarily used by members of the Consultant’s profession practicing under similar circumstances at the same time and in the same locality. Consultant shall be responsible for the technical accuracy of its services and related documents.

In performing its obligations under this Agreement, the Consultant and each of its agents, servants, employees, or anyone directly or indirectly employed by the Consultant, shall maintain the standard of care, skill, diligence, and professional competency for such work and/or services ordinarily exercised by other professionals practicing in the same discipline(s), under similar circumstances, and at the time and place where the services are performed. Any designs, drawings, reports, or specifications prepared or furnished by the Consultant that contain errors, conflicts, or omissions will be promptly corrected by the Consultant at no cost to the District.
ARTICLE 24. RECOVERY OF COSTS AND FEES. In the event either the District or Consultant is required to enforce this Agreement or any provision hereof by court proceedings or otherwise then each party shall bear its own attorneys’ fees and costs.
ARTICLE 25. ASSIGNMENT. Neither the District nor the Consultant may assign this Agreement without the prior written approval of the other.
ARTICLE 26. HEADINGS FOR CONVENIENCE ONLY. The descriptive headings in this Agreement are for convenience only and shall neither control nor affect the meaning or construction of any of the provisions of this Agreement.

ARTICLE 27. SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of the remaining portions of this Agreement, or any part of this Agreement not held to be invalid or unenforceable.

ARTICLE 28. COUNTERPARTS; ELECTRONIC SIGNATURES. This Agreement

7

may be executed in any number of counterparts, each of which when executed and delivered shall be an original; however, all such counterparts together shall constitute, but one and the same instrument. Additionally, the Parties acknowledge and agree that the Agreement may be executed by electronic signature, which shall be considered as an original signature for all purposes and shall have the same force and effect as an original signature. Without limitation, “electronic signature” shall include faxed versions of an original signature, electronically scanned and transmitted versions (e.g. via PDF) of an original signature, or signatures created in a digital format

ARTICLE 29. COMPLIANCE WITH SECTION 20.055, FLORIDA STATUTES. THE CONSULTANT AGREES TO COMPLY WITH SECTION 20.055(5), FLORIDA STATUTES, TO COOPERATE WITH THE INSPECTOR GENERAL IN ANY INVESTIGATION, AUDIT, INSPECTION, REVIEW, OR HEARING PURSUANT SUCH SECTION AND TO INCORPORATE IN ALL SUBCONTRACTS THE OBLIGATION TO COMPLY WITH SECTION 20.055(5), FLORIDA STATUTES.

ARTICLE 30. SCRUTINIZED COMPANIES STATEMENT. Consultant certifies it:
(i) is not in violation of Section 287.135, Florida Statutes; (ii) is not on the Scrutinized Companies with Activities in Sudan List; (iii) is not on the Scrutinized Companies with Activities in the Iran Petroleum Energy Sector List; (iv) does not have business operations in Cuba or Syria; (v) is not on the Scrutinized Companies that Boycott Israel List; and (vi) is not participating in a boycott of Israel. If the Consultant is found to have submitted a false statement with regards to the prior sentence, has been placed on the Scrutinized Companies with Activities in Sudan List, the Scrutinized Companies with Activities in the Iran Petroleum Energy Sector List, or the Scrutinized Companies that Boycott Israel List, has engaged in business operations in Cuba or Syria, and/or has engaged in a boycott of Israel, the District may immediately terminate the Agreement.

ARTICLE 31. COMPLIANCE WITH SECTION 558.0035, FLORIDA STATUTES.
TO THE EXTENT APPLICABLE FOR SERVICES PROVIDED UNDER THIS AGREEMENT, PURSUANT TO
§558.0035, FLORIDA STATUTES, CONSULTANT'S INDIVIDUAL EMPLOYEES AND/OR AGENTS MAY NOT BE HELD INDIVIDUALLY LIABLE FOR NEGLIGENCE OR DAMAGES OCCURRING WITHIN THE COURSE AND SCOPE OF THEIR WORK ON THIS AGREEMENT.

[remainder of this page intentionally blank]

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IN WITNESS WHEREOF, the Parties hereto have executed this Agreement the day and year first above written.

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

Chairperson, Board of Supervisors

ENGLAND-THIMS & MILLER, INC.

By:	 Its:	

Exhibit A: Scope of Services

9

Exhibit A

Scope of Services

10

11

FIRST AMENDMENT TO MEMORANDUM OF UNDERSTANDING REGARDING GIS AND ASSET MANAGEMENT SYSTEM AND THE FUNDING OF THE COST THEREOF

This First Amendment (“First Amendment”) is made and entered into as of this     day of 	 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, being situated in Collier County, Florida, and whose mailing address is 2501A Burns Road, Palm Beach Gardens, Florida 33410 (the “District”); and

Ave Maria Utility Company, LLLP, a Florida limited liability limited partnership, whose address is 2600 Golden Gate Parkway, Naples, Florida 34105 (“AMUC” together with the District, the “Parties”).

RECITALS

WHEREAS, the District and AMUC previously entered into that Memorandum of Understanding Regarding GIS and Asset Management System and the Funding of the Cost Thereof, dated November 12, 2024 (“MOU”) attached hereto as Exhibit A; and

WHEREAS, pursuant to Section 6 of the MOU, the Parties desire to amend the MOU to provide for reimbursement of District’s share of costs associated with services provided by AMUC which benefit the District as set forth in more detail below and as further described in Exhibit B, attached hereto (“Additional Shared Services”); and
Whereas, each of the Parties hereto has the authority to execute this First Amendment and to perform its obligations and duties hereunder, and each party has satisfied all conditions precedent to the execution of this First Amendment so that this First 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 are hereby acknowledged, the District and AMUC agree as follows:
SECTION 1. The MOU is hereby affirmed and continues to constitute the final understanding between the Parties. Except as described in Sections 2 and 3 of this First Amendment, nothing herein shall modify the rights and obligations of the Parties under the MOU. 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. The MOU is hereby amended to reflect the addition of the Additional Shared Services as further described in Exhibit B attached hereto.

SECTION 3. AMUC shall contract for and fund Additional Shared Services with OpenGov Inc., necessary for the System as outlined on Exhibit B as such services represent an annual subscription with intent to renew annually. As compensation for the Additional Shared Services described in Exhibit B, the District agrees to reimburse AMUC a total of eight thousand, six hundred twenty-six dollars and eighty-eight cents ($8,626.88) representing twenty- three and one half percent (23.5%) of the total cost representing its shared portion of the costs pertaining to District assets as described on Exhibit C. So long as the MOU remains in effect, the District shall reimburse AMUC for its portion of the Additional Shared Services on an annual basis. AMUC shall provide District records regarding District share of costs on an annual basis in support of the reimbursement request.

SECTION 4.  Except as specifically amended above, the MOU shall remain in full force and effect, unaltered by this First Amendment.

In witness whereof, the Parties execute this First Amendment to be effective the day and year first written above.

Attest:	Ave Maria Stewardship Community District

Secretary / Assistant Secretary	Chairperson, Board of Supervisors

Print Name: 	
Print Name

Attest:	Ave Maria Utility Company, LLLP
a Florida limited liability limited partnership

Witness

By: 	  Print Name: 	

Print Name	Title: 	

Exhibit A:	Memorandum of Understanding Regarding GIS and Asset Management System and the Funding of the Cost Thereof, dated November 12, 2024
Exhibit B:	Scope of Additional Shared Services
Exhibit C:	Additional Shared Services Costs Allocation

EXHIBIT A

Memorandum of Understanding Regarding GIS and Asset Management System and the Funding of the Cost Thereof, dated November 12, 2024

MEMORANDUM OF	DERSTANDfflG REGAR.DING GIS AND A • ET IAN GEME 1' SYSTEM AND THE FUNDU�G OF THE COS1' THEREOF
THIS MEMORANDUM OF	DERSTANDING \MOU�) is enterer.!into as of. thh _1_l��
day of oV<!m.ber. 2024, by and b tween:
Ave Maria Stewardship Coounurnty District, a focal unit of speda1-purpose governme.nt established purs11an� to Chapte.r 21l04-461, Laws of Florida, bei1lg situated i.n Collier County, Fllorida, and whose mailing address i� 2501A B11rns Road, Palm Beach Gar-dens, Florida 33410 (the ·oistrkn; and
Ave M111ia tmty Com:pan• LI..LP. a Florida Umit.ed ]1ahili1.y Jimiled partnership, whose address is, 2600 Golden Gate Parkway, Nap]es, Florida 34105 ("AMUC together with the Distrkt, ilie "Parties")_

RECl'fAl,S
Wu REAS, the Dis,trkt is a local unit of spe.cial-purpose government established pursuant IO I.he Chapter 2004-461, Laws of Florida, as amended (the� Aci: ), for tl1e purpo� of p]annfr1g, financing, constructing. ope-raling anrl/or maintaining certain public infrastructure impr-O\'fments on lands fo ted within I.he Dislricl;
WHEREAS. the AMUC is a florlda limited liabUity parl11ersllip, which owffi and/or maintains certain private utility improvements.and real property ("AM C Pr11,per,ty") lotated wiL111n 1he Di�lrict; and
WHltREAS, tll.e District is the own(!ll' of certain impmvements a11dl rea] pmperl.y, including bul not llmlted to roadways. irrigation 11U11ty impmvements, storm valer rnanagern nt tmprovernems. pipes, structures, and ponds and r,eal property; and
'\ H R I\S, AMUC p ev.ious.ly contracted with independent contractors to provide geographic information system and asset management oonsuitmg s.ervkes (the "Servicesw] fol' a,!.Sets located within the Dislrirn owned by a variety of community parties, inch.1ding lhe Distrrict; and
WitEREAS, lhe District and AMUC previously entered into a Cost Share Agreement Between Dlsitrict and AMiUC dated March 7, 2023, as aD1emied, to provide a111.d pay for initial consulting services r.o set up the asset management syst.em (the � slem"}: and
WHt::REAS, it is in the best interest of the residents of the rnstrict and customers of AMUC to clearly and. JogicaUy delineate rights and rnsponsibnitie.s between the AMUC and the Disbricl for the operaliOJl a ce.ss,mana:gernem and mamternmceof lhe System, and to basesucll de1ine-ation on the most efficient and c�t-effective approach for the entire oommurnty; and
WHEREAS, the District and the AMUC des.ire to el'lter into this MOU Jn orde,r to se-t forth the parties' riglits, d1J1ties and o.bligations relative to same.

l of 4

Now, 'JHE:REFO.R!E, based upon good a'lldl valuaibLc rnrusideraticm and the rn.utmd coverta]�S of tlte pani-es, the r,ec.eipl.of which and sum6ency of whicll.is �ereby acknowledg�.. the part:res agree as follows:
I OORro IO o • Rmc1 11..S. Th.e Rec1tals stated above are m1e a11d correct and are inoor,porated:herein as a material pa,11 of this MOU.
?. D	1 10  ' o RmuTSRELATJ	. o Sf l'EM.
	fUC. MIUC slmJl iconlra: t for and fulld asset rrnrnag,ernent services necessary fm System updates and management of improv,ements owned by AMUC. AMUC shall en�ute Disnrict 110�access to all pottioiiS of the Sy-tem pertaiining 10 D'srrict  ets.
D1STRtCT. District shall contract for and fund asset management services nec:e,!..Sal)•lo mat fain the System wil:h.regard to impm er,_en!S owri.ed by me Distn.c:L District shaill have acces.s to·al portkms ,o,f the S,yn:,em pertaining to Distikt assets.
3.  NOTJCI!: OF NON-CO ilPLI'  "C'E OR TERMI. ATION, The parties shall provide a .minimum
,of twelve (12) months' 1Nri en notiu;e of its anticipated non-oomplia11ce with any 1Jf the terms of this MOU, or of its intent t,o,!erminale U1e MOU, to the other party herelo. Either party may t�minate this  OU by p,roviding at ]east twe]w (12) months writlen notice to 1he odiLer · arty. A11 notic.es shall be sem by certified mall or 01:he.r method providing confirrnathrn <if de.liv,e,ry to the Ol}ler party at die•address.provi�ed on the first page of this MOU or ud other address as the party provides to lh •01her party ill writing. Upon notice of termination, AMlJC agre@s to cooper-ate with D'strict :regardling exportation o .au rnstrlct records, data and inforrn.ation contained within the System 1111 a format accessible
�o the nlst1'ict
4L l"UB,LJC REcoRDS, The M UI1derstimds and agrees tha aH documents of any ki d provided to Ille District or the D�t id's staff in coimection with �Jie acHvHiescontemplated ruider this MOU are p11bHc records pursuant to Chapler l l 9, Florida Statutes, an<l are Lrea1.ed as. snd1iin accordante with Florida lal\v_
A THOR! . •• m,. Bye ecution below, the un-ctersigned rep:resenl thanhey have beenduly autharlzed by tJ1e appropriate body o:r official of their 11espective entity lo execute this MOU. and that each party has complied with all the reqnlrements offaw and has full power
and authorilty to c.omply with the terms and provlsiom of mis lns:trl!lment.
AMENDMENTS; -s1GNME ., Ame11dm@nts to arid w.riven of th provisions contained in tMs MQlJ may be mad.e only by an instrument in wlftting whlcli i.s executed by each of the·partie herern. either of the parties may a.�ign [heir rlglhts, duties.or obligatlom under this, MOU without prior wri!lte11 appt"oval of tlle other p:acty. An. purported assignment without said Vl'fitten author1zation sha11 be void.
7, EVE1lAB1LITY. The invalidity of Meri, rceab,iUty of any one. or more prnvL'>iO:El'i of this MOU MJ:all not arfect thevalidily or enio:rceaibi]Hy of the remaining porliom oflhis OU, or any part ofilihiis MOU not held to be invalid or urmnfbrneable.

2of4
41lSS-I 831-289-4 1

8, EXECtrTIOS IN	o NT.t!:R ARTS.	Thls MOU may be executed i.n any number of counterparls, eadl of which when executed and delivered shall b an original; however. alJ
.sucli.OJlJlilterparts together shalJ COJJsHtutc but one and the same in&trume-nt. Signature and aclmow]edger.nent pages, if any, may be detarJ1ed from the, co1,mterp-.ans and auaclied to a
!.ingle copy ofthi ducu:rnenLt.o phy icaUy fo1m one docli.meJJt
9. F� . L AGREEMENT. TMs rnsitrumem s:hall coMlitttte (he final a;nd complete @Jlpresston between the District and AMUC reJating to the subject matter of this MOU.

1'IGNA.T RES ON PAGI!:.TO FOLLOW]

3 of 41

b \Vm, .'i. wu�:it :oi:, lhCu' nder!.iKJled h,we execut ct thi�M U C"fff'rHv� a.,; of 1l1e tlalf:!
l'I fr,r1h nbovP

A	A 'I:. M rn,	HlP

,	0  1i\ U�J	.

,I	Ch,nr, Bn�rrl ,r upt•rvi�m.

'

\.\'JTN�	AYE l\1ARU l1TlL1  • C0;\1P, :"- .-,

•

r. ;i florid bmited hab1l lV11 11NI

parll1ersh1p/

B•:	.,,_
i\l�mr. .!]avid R Genson
Title Vicc_FJ�ident o Banon ColHer
Co.cpomtion,-ilsManagln  Member

nr ·I

EXHIBIT B

Scope of Additional Shared Services

		--			
	
W111Stcw11tcrrCollcctiDn				2,G'l:ui.J1		
		10/0l	025:	OJl/l W2n			

W11sll:Wlllcr T�tment Domafo	l0/llli202S	01 30/2026	.$b018. 1	
W11.ter Di�tribu!i,m .Dam:i;il!l	10/0i	025	o9'rllw2021'!	2@26.37	

W111.ta- Jre1111Di.e□l Dom:i;LTJ	10/01.	02:5	U J!30lW26	2 ?fi'.3.06	

811 lntegralfon	10(01/2025	
09/30/1027	$9.756_ 5i	

A:!<scl E!ualcler	10/01.;..[)2fi	OJ 2021	$1. 5:59.S.J,	
A	ct MllnagemcJlt	lO/ll I12025	0')/30/1027	JH2_71	
J>ai:b & Reii:rution Domain	10/0l- .OM	09'/J0/2027	2 l.41.61	
Sto:rmw111:CT Oo:m111in	10(1)1	00.fi	ovn 2027	"2.1.41, 1	
Trllil�por1ialicm Dom11m	l0/01	00:ti	09'/l 1027	'3,,2.IL'iL_	
�- ail!uibility ![hirnain	10/01	DM	U'J/l 2027	
l 4LJ1!.(ri4	
V e;stcw!rlr:rrC-ollcc:ticm	
10/01	
025	0 30.12027	$2141-61	

-111slewalcr T'reo.tment De.ma	10/0i	02fi	09'!1lW2021	'.'i.t69 ..ll	

\ iitn	Dislributiim Damaiir::i	10/lH	00:ti	01f30/21)27	'2,141.61	

111.ta- rcaunc.□l Dom11iTJ	10 l	,[)2fi	09'/l 2027	2 9:20_HI	
811 lntq;r.ution	lO(CH	027	01 )0.1202	S,10...i4J .cm	

A!isct E!uil'der	10(0 I{202:7	0 )0.1202	Sl,6�'7..51	

As:sc:l l'!..t'am1g,emc□t	
Ul/01	
027	09'!)0/202	
,413.34	
l'ru:b & Reere.a'tlCln D:r,main	10ro1mm	OQ</30/202	2,262_6'1	

EXHIBIT C

Additional Shared Services Costs Allocation

Vendor

AMUC
Pro rata Pro rate

MA

Product Name 811
IIntegIraUon Asset Builder Asset
Manag,emen1t
Parks &
Recn.":':!ation

Start Date End Date	Annual Fee

10/1/2025	9/30/2026	$,9,231.75	
10/1/2025	9/30/2026	$,1AB5.27	
10/1/2025	9/30/2026	$,7,1631.15	
10/11.2025	
9/30/2026	
$,2,026.37	

10/1/.2025	
9/30/2026	$,2,026..37	
10/1/2025	9/30/2026	$,3,039.09	
10/1/.2025	9/30/2026	
	
10/1/2025	9/30/2026	$,2,026.37	
10/1/2025	.9/30/2026	$3,018.21	
10/1/2025	'9/30/2026	$,2,026.37	

10/1/2025	

9/30/2026	

$,2,7'63.06	

		Domain

AMSCD AMSCD
AMSCD
AMUC

AMUC

Stormwater Domain Trarisportaf o n Domain Walkability Domain Wastewater Collleeition Wastewater Treatm,ent

		Domain
Water

AMUC

AMUC

Distribution Domain Water Treatment
Domain

Total Annual Fees:	$36,692.0'1

AMUC
sec
MA

S'ha1red Costs

Domain Breaikout
$1'9,065.76
$6,483.46
$2.,026,.37
$2.7,575.59

% A!llocatiion	Pro r,ata Share Tota,cl ost Share
0,691	$6,303.09	$2S,368.RS
D.235	$2,.143.42.	$8,6126.88

$.2,696.28

OJJ73	$669.91
$36,6912.01

Ave Maria
Stewardship Community District

MEMORANDUM

To:	Board of Supervisors
From: Allyson Holland, P.E., District Manager
Date: October 27, 2025
Board Meeting Date:	November 5, 2025

SUBJECT

Resolution adopting an annual report of goals, objectives, and performance measures and standards and Resolution adopting new goals, objectives, and performance measures and standards.

STAFF RECOMMENDATION

Staff recommends the Board of Supervisors discuss the goals, objectives, and performance measures and standards and approve the Resolution adopting an annual report of goals, objectives, and performance measures and standards and approve the Resolution adopting new goals, objectives, and performance measures and standards.

GENERAL INFORMATION
During their 2024 legislative session, the Florida Legislature adopted House Bill 7013 (HB7013), which among other things, 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. The Board of Supervisors unanimously approved the goals and objectives at the regular board meeting on September 10, 2024 and staff has been reviewing the goals and objectives at each regular board meeting. HB7013 also requires each special district 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 by December 1 each year (initial report due on December 1, 2025). The annual report is included herein for the Board’s consideration.

Additionally, at the July 1, 2025 regular Board meeting, staff reviewed the current goals and objectives, informed the Board that the goals and objectives can be changed/added throughout the year, and informed the Board that they are not required to adopt new goals and objectives each year. The Board directed staff to continue to follow the key categories identified last year, but amend the goals and objectives as-need. The key categories along with the goals are listed below:

1

Ave Maria
Stewardship Community District

MEMORANDUM

Communication and Community Engagement
Remain compliant with Florida Law for all District meetings
Improve communication
Operation & Maintenance of Infrastructure and Assets
Insure, operate and maintain district infrastructure and assets
Financial Transparency and Accountability
Remain compliant with Florida Law for all District financing activities
Staff recommends that the Board of Supervisors adopt the Annual Report and the amended goals and objectives to maintain compliance with HB7013 and further enhance their commitment to the accountability and transparency of the District.

PROCUREMENT REVIEW
Not applicable
DISTRICT LEGAL COUNSEL REVIEW

The District Legal Counsel has reviewed and approved.

FUNDING REVIEW
Not applicable Attachments

2

RESOLUTION 2025-29

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT ADOPTING AN ANNUAL REPORT OF GOALS, OBJECTIVES, AND PERFORMANCE MEASURES AND STANDARDS; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Ave Maria Stewardship Community District (the “District”) is a local unit of special-purpose government organized and existing under and pursuant to Chapter 2004- 461, Laws of Florida being situated entirely within Collier County, Florida; and

WHEREAS, effective July 1, 2024, the Florida Legislature adopted House Bill 7013, codified as Chapter 2024-136, Laws of Florida, and creating Section 189.0694, Florida Statutes; and

WHEREAS, the District adopted Resolution 2024-16 on September 10, 2024, establishing goals and objectives for the District and creating performance measures and standards to evaluate the District’s achievement of those goals and objectives; and

WHEREAS, pursuant to Section 189.0694, Florida Statutes, the District must adopt and publish on its website an annual report prior to December 1st of each year, describing the goals and objectives achieved by the district, as well as the performance measures and standards used by the district to make this determination, and any goals or objectives the district failed to achieve.
WHEREAS, the District Manager has the annual report of the District’s goals, objectives, and performance measures and standards attached hereto and made a part hereof as Exhibit A (the “Annual Report”) and presented the Annual Report to the Board of the District; and

WHEREAS, the District’s Board of Supervisors (“Board”) finds that it is in the best interests of the District to adopt by resolution the attached annual report of the goals, objectives and performance measures and standards.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT, THAT:
SECTION 1. The recitals so stated are true and correct and by this reference are incorporated into and form a material part of this Resolution.

SECTION 2. The District Board of Supervisors hereby adopts the Annual Report regarding the District’s success or failure in achieving the adopted goals and objectives and directs the District Manager to take all necessary actions to comply with Section 189.0694, Florida Statutes.

SECTION 3. If any provision of this Resolution is held to be illegal or invalid, the other provisions shall remain in full force and effect.

SECTION 4. This Resolution shall become effective upon its passage and shall remain in effect unless rescinded or repealed.

PASSED AND ADOPTED this 5th day of November, 2025.

ATTEST:	AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

Print name: 		Print name: 	 Secretary/Assistant Secretary			Chairman, Board of Supervisors

Exhibit A: Annual Report of Performance Measures/Standards

Exhibit A

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	
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	
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	
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	
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	
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	
Comments		

RESOLUTION 2025-30

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT ADOPTING GOALS, OBJECTIVES, AND PERFORMANCE MEASURES AND STANDARDS; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Ave Maria Stewardship Community District (the “District”) is a local unit of special-purpose government created and existing pursuant to Chapter 2004-461, Laws of Florida, being situated entirely within Collier County, Florida; and

WHEREAS, effective July 1, 2024, the Florida Legislature adopted House Bill 7013, codified as Chapter 2024-136, Laws of Florida (“HB 7013”) and creating Section 189.0694, Florida Statutes; and

WHEREAS, pursuant to HB 7013 and Section 189.0694, Florida Statutes, beginning October 1, 2024, the District shall establish goals and objectives for the District and create performance measures and standards to evaluate the District’s achievement of those goals and objectives; and

WHEREAS, the District Manager has prepared the attached goals, objectives, and performance measures and standards and presented them to the Board of the District; and
WHEREAS, the District’s Board of Supervisors (“Board”) finds that it is in the best interests of the District to adopt by resolution the attached goals, objectives and performance measures and standards.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT:

SECTION 1. The recitals so stated are true and correct and by this reference are incorporated into and form a material part of this Resolution.
SECTION 2. The District Board of Supervisors hereby adopts the goals, objectives and performance measures and standards as provided in Exhibit A. The District Manager shall take all actions to comply with Section 189.0694, Florida Statutes, and shall prepare an annual report regarding the District’s success or failure in achieving the adopted goals and objectives for consideration by the Board of the District.

SECTION 3. If any provision of this resolution is held to be illegal or invalid, the other provisions shall remain in full force and effect.

SECTION 4. This resolution shall become effective upon its passage and shall remain in effect unless rescinded or repealed.

PASSED AND ADOPTED this 5th day of November, 2025.

ATTEST:	AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

Secretary/Assistant Secretary	Chairman, Board of Supervisors

Exhibit A: Goals, Objectives, and Performance Measures/Standards & Annual Reporting Form

Exhibit A:

Goals, Objectives, and Performance Measures/Standards & Annual Reporting Form

COMMUNICATION AND COMMUNITY ENGAGEMENT

Goal 1.1	Remain compliant with Florida Law for all District meetings	
Objectives	Notice all District regular, special and public hearing meetings Conduct all post-meeting activities
District records retained in compliance with Florida Sunshine Laws Monthly website reviews	
Performance Measures	All meetings publicly noticed as required (YES)
Meeting minutes and post-meeting action completed (YES) District records retained as required by law (YES)
Conduct monthly website reviews (YES)	
Comments		

Goal 1.2	Improve Communication	
Objectives	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.	
Performance
Measures	Provide a minimum of two (2) communication outlets to effectively share information and initiatives (YES)	
Comments		

OPERATION & MAINTENANCE OF INFRASTRUCTURE AND ASSETS

Goal 2.1	Insure, Operate, and Maintain District Infrastructure and Assets	
Objectives	Annual renewal of District insurance policy Contracted Services for District Operations in effect Compliance with all required permits	
Performance
Measures	District insurance renewed and in force (YES)
Contracted Services in force for District operations (YES) Permits in compliance (YES)	
Comments		

FINANCIAL TRANSPARENCY AND ACCOUNTABILITY

Goal 3.1	Remain Compliant with Florida Law for all District Financing Activities	
Objectives	District adopted fiscal year budget
District amended budget at end of fiscal year
Process all District finance accounts receivable and payable Support District annual financial audit activities	
Performance Measures	District adopted fiscal year budget (YES)
District amened budget at end of fiscal year (YES)
District accounts receivable/payable processed for the year (YES) “No findings” for annual financial audit (NO)
If “yes” explain	
Comments		

Ave Maria
Stewardship Community District

MEMORANDUM

To:	Board of Supervisors
From: Allyson Holland, P.E., District Manager
Date: October 28, 2025
Board Meeting Date:	November 5, 2025

SUBJECT

Resolution setting public hearing on prequalification procedures.

STAFF RECOMMENDATION

Staff recommends the Board of Supervisors approve the Resolution setting a public hearing on prequalification procedures.

GENERAL INFORMATION
Staff is interested in growing the “library” of prequalified contractors to provide construction and maintenance services for public infrastructure improvements. The District prequalified contractors in both 2021 and 2023, and the proposed Resolution includes extending the previous prequalified contractors. This is the first step of the prequalification process. Staff included the submittal of the qualification package for Board consideration, and the proposed Resolution includes setting a public hearing to authorize use of the qualification package. Should the Board approve the Resolution, staff will notice the public hearing in accordance with the District’s Rules of Procedure.

Next steps include:
Publishing the advertisement for the public hearing and holding the public hearing tentatively scheduled for December 2, 2025.
Hold public hearing (12/2/25). Board to consider adopting a resolution authorizing staff to move forward with the prequalification process, approve the evaluation committee members, and an evaluation committee meeting date.
Following the public hearing, staff will notice the Request for Qualifications (RFQ) for prequalification submittals to be published.
Qualifications are due 30 days from the date the notice runs (~mid-January).
Hold evaluation committee meeting (prior to February meeting), and prepare written recommendation for the Board.
February Board meeting – Board considers qualification submittals and adopts Resolution adopting prequalified contractor list. Then staff provides notice to prequalified contractors.

1

Ave Maria
Stewardship Community District

MEMORANDUM

PROCUREMENT REVIEW
In accordance with Rules of Procedure.
DISTRICT ENGINEER REVIEW

The District Engineer has reviewed and approved the Resolution.

DISTRICT LEGAL COUNSEL REVIEW

The District Legal Counsel has reviewed and approved the Resolution.

FUNDING REVIEW
Not applicable Attachments

2

RESOLUTION 2025-31

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT TO DESIGNATE THE DATE, TIME AND PLACE OF PUBLIC HEARING AND AUTHORIZATION TO PUBLISH NOTICE OF SUCH HEARING FOR THE PURPOSE OF ADOPTING CONSTRUCTION AND MAINTENANCE SERVICES PREQUALIFICATION CRITERIA AND PROCEDURES; AND PROVIDING AN EFFECTIVE DATE

WHEREAS, Ave Maria Stewardship Community District (the “District”) is a local unit of special-purpose government created and existing pursuant to Chapter 2004-461, Laws of Florida, as amended, (the “Act”) being situated entirely within Collier County, Florida; and

WHEREAS, the Board of Supervisors of the District (the “Board”) is authorized by the Act to prequalify contractors for construction and maintenance services pursuant to its Rules of Procedure and Chapter 255, Florida Statutes.

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

SECTION 1. A Public Hearing will be held to adopt the District’s proposed construction prequalification criteria and procedures on 	, 202  , at 	   .m., at
	. Such proposed construction prequalification criteria and procedures shall be for consideration of additional prequalified contractors to supplement those prequalified by action of the Board May 4, 2021 and December 19, 2023.
SECTION 2. The District Secretary is directed to publish notice of the hearing in accordance with its rules and Chapter 255, Florida Statutes.

SECTION 3. This Resolution shall become effective immediately upon its adoption.
PASSED AND ADOPTED this 5th day of November 2025.
ATTEST:	AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

Secretary/Assistant Secretary	Chairman, Board of Supervisors

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

CONTRACTOR'S PREQUALIFICATION STATEMENT (CONSTRUCTION OF PUBLIC INFRASTRUCTURE IMPROVEMENTS AND
MAINTENANCE SERVICES)

Contractor

TABLE OF CONTENTS

ADVERTISEMENT
NOTICE TO PROSPECTIVE BIDDERS MINIMUM CONTRACTOR QUALIFICATIONS
APPLICATION FOR CONTRACTOR PREQUALIFICATION AFFIDAVIT FOR INDIVIDUAL
AFFIDAVIT FOR PARTNERSHIP AFFIDAVIT FOR CORPORATION
SWORN STATEMENT UNDER SECTION 287.133(3)(A), FLORIDA STATUTES, ON PUBLIC ENTITY CRIMES
CONTRACTOR CLASSIFICATION LISTING DETERMINATION OF QUALIFIED PROSPECTIVE BIDDER

REQUEST FOR QUALIFICATIONS
FOR CONSTRUCTION AND MAINTENACE SERVICES AVE MARIA STEWARDSHIP COMMUNITY DISTRICT COLLIER COUNTY, FLORIDA

The Ave Maria Stewardship Community District (“District”) requests Applications for Qualification from firms interested in providing construction and maintenance services for public infrastructure improvements. Upcoming projects include the construction of various infrastructure improvements and maintenance services in and around the District including construction of roadways, stormwater management facilities, irrigation facilities, earthwork, landscape, hardscape, street lighting/electrical, and other public improvements and maintenance services including exotic vegetation removal and lake and littoral maintenance. With the exception of landscaping, construction projects may include maintenance of existing infrastructure.

To be eligible to submit qualifications, firms must hold all required applicable licenses in good standing and be authorized to do business in the Collier County, and the State of Florida.

Applicants may request an Application for Qualification from Ave Maria Stewardship Community District, 5080 Annunciation Circle, Suite 101, Ave Maria, Florida 34142, or via email to aholland@sdsinc.org beginning 	,     , 202  , after 12:00
p.m. Applicants must submit one (1) original hard copy of the Application for Qualification, along with one (1) electronic copy (PDF format on a USB flash drive), by 3:00 p.m. on 	, 	, 202 . Address responses to: Ms. Allyson Holland, District Manager, 5080 Annunciation Circle, Suite 101, Ave Maria, Florida 34142.
Qualified firms will be selected based on experience, qualifications of personnel, and ability to perform construction or maintenance services. Packages will be reviewed and rated by a committee appointed by the District Board of Supervisors, with final selected expected to be made at a publicly noticed Board of Supervisors meeting as soon as practicable after receipt of the recommendations of the Committee appointed by the Board to evaluate the submitted packages. At that time, all qualified firms may be assigned a project qualification for work under District contracts. All applicants will be promptly notified after the construction and maintenance firms are selected. The pre-qualification decisions of the Board of Supervisors shall be valid for a period of three (3) years, after which the Board of Supervisors may either extend the prequalification period for an additional two (2) years or open the prequalification process again, at its sole discretion. The District reserves the right to waive any informality in the qualifications submitted, to reject any and all qualifications submitted and to advertise for the services.

Pre-qualified firms will be eligible to bid on construction and maintenance projects subject to the applicants approved project classification and aggregate limit. Failure to pre-qualify may preclude the District from awarding contracts for construction and maintenance services to non-qualified firms.

Applicants may contact the District Manager, at Ave Maria Stewardship Community District, 5080 Annunciation Circle, Suite 101, Ave Maria, Florida 34142 or via email to aholland@sdsinc.org, until the qualifications submittal deadline for further information. All requests for information shall be in writing.
Allyson Holland, District Manager Publication Date: 	, 202  

NOTICE TO PROSPECTIVE BIDDERS

The information required herein is for the purpose of fairly evaluating contractor qualifications to perform various construction and maintenance activities for the Ave Maria Stewardship Community District (the “District”).

APPLICANTS FOR PREQUALIFICATION AS BIDDERS FOR THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT CONTRACTS ARE HEREBY NOTIFIED THAT INCLUSION OF FALSE, DECEPTIVE OR FRAUDULENT STATEMENTS ON THIS APPLICATION CONSTITUTES FRAUD. FURTHERMORE, YOU ARE HEREWITH NOTIFIED THAT THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT CONSIDERS SUCH ACTION ON THE PART OF THE APPLICANT TO CONSTITUTE GOOD CAUSE FOR DENIAL, SUSPENSION, OR REVOCATION OF THE PROSPECTIVE BIDDER'S QUALIFICATION FOR BIDDING ON ITS PROJECTS.

Please be advised that this application must be complete within itself without reference to any other application or statement. All sections of the application shall be completed. If any of the requested information does not apply, it shall be indicated as "None" or "N.A." as applicable. Failure to make entries in every section of this application may result in a disqualification.

All financial information provided in this application and accompanying audited financial statements are exempt from public record laws pursuant to Section 119.071(1)(c), Florida Statutes, and will be kept confidential. District can request annual audits and annual resubmittal of any or all financial statements from any prequalified contractor.

The properly completed Contractor's Prequalification Statement shall be submitted to Ave Maria Stewardship Community District, 5080 Annunciation Circle, Suite 101, Ave Maria, Florida 34142. Any questions with regard to the requests for information contained herein shall be addressed to Ms. Allyson Holland, District Manager, Ave Maria Stewardship Community District, 5080 Annunciation Circle, Suite 101, Ave Maria, Florida 34142, or via email to aholland@sdsinc.org.

.

Ave Maria Stewardship Community District Minimum Contractor Qualifications
For Public Infrastructure Improvements

Contractor: 	 Contact: 	

Address: 	
Phone: 		Email: 	

Typical Work Description: Construction of Public Infrastructure Improvements may include earthwork, paving, drainage, irrigation, landscaping, hardscaping, street lighting/electrical, roadway improvements and all work associated with these types of activities; maintenance services include exotic vegetation removal and lake and littoral maintenance. With the exception of landscaping, construction projects may include maintenance of existing infrastructure.

Owner: Ave Maria Stewardship Community District

Certification: I acknowledge that the Ave Maria Stewardship Community District has the right to deny, suspend or revoke a prospective bidder’s qualification for bidding on the Public Infrastructure Construction and Maintenance Services based upon the Determination of Qualified Prospective Bidder information contained herein.

Signature

Print Name

Title	Date

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT CONTRACTOR PREQUALIFICATION STATEMENT

Application for Contractor Prequalification (Attach Additional Sheets if Necessary)

DATE SUBMITTED 	, 202 
Applicant 	 /_/ A Partnership
[Company Name]	/_/ A Corporation
/_/ A Subsidiary Corporation

Parent Company Name 	
Parent Company Address:

Street Address 	

P. O. Box (if any)	
City 	 State 	 Zip Code 	
Telephone 	

1st Contact Name	 Title 	
2nd Contact Name 	 Title 	
Applicant Company Address (if different):

Street Address 	

P. O. Box (if any)	
City 	 State 	 Zip Code 	

Telephone 	

1st Contact Name	 Title 	
2nd Contact Name 	 Title 	

List the location of the office from which the applicant would perform work for the Ave Maria Stewardship Community District work.

Street Address	

City	State	Zip Code	
Telephone	
1st Contract Name	Title	

Is the applicant Company incorporated in the State of Florida? yes ( ) no ( )

If yes, provide the following:

Is the Company in good standing with the Florida Department of State Division of Corporations? yes ( ) no ( ) If no, please explain 	

Date incorporated 	 Charter No. 	

If no, provide the following:
The State with whom the applicant company is incorporated in?		

Is the company in good standing with the State? yes ( ) no ( )

In no, please explain 	

Date incorporated 	 Charter No. 	

Is the applicant company authorized to do business in the State of Florida? yes ( ) no ( )

Is the applicant Company a registered or licensed contractor with the State of Florida? yes ( ) no ( ) Provide copies of all licenses listed.
If yes, provide the following:

Type of registration (i.e. certified general contractor, certified electrical contractor, etc.) 	
	.

License No. 	 Expiration Date 	

Qualifying individual 	 Title 	
List company(s) currently qualified under this license 	

Is the applicant Company a registered or licensed Contractor with Collier County? yes ( ) no( )

Has the applicant Company performed work for an independent special district previously? yes ( ) no ( )

Is the applicant company prequalified by the Florida Department of Transportation? yes ( ) no ( ) If yes, provide the following:
Work Class Ratings 	

Maximum Capacity Rating		
Name of Applicant's Bonding Company 	

Address 	
Approved Bonding Capacities:	Aggregate Limit	$	
Single Project Limit	$	 Total Current Contracts Bonded	$	

Note: All bonds and insurance policies obtained by Applicant required herein shall be issued by companies authorized to do business in the State of Florida and shall have a financial strength rating of A or better, and a financial size category of X or higher, as rated by A.M. Best Company.

Name of Applicant's Bonding Agency 	
Address 	

Contact Name 	 Phone 	

List the Applicant's total annual dollar value of work completed for each of the last three (3) years starting with the latest year and ending with the most current year	(2023)		(2024)	,
(2025)	
List the classification(s) (refer to attached listing) of work the applicant is applying for prequalification based on the applicant company's ability to self perform the work (excluding general contracting).

What are the applicant company's current insurance limits? If contractor does not have a certain category of coverage listed below, please note none. (provide a copy of applicant's certificate of insurance)

General Liability	$	
Automobile Liability	$	
Workers Compensation	$	
Contractor’s Pollution Liability		$		 Umbrella Liability/Excess Liability	$	 Contractors Additional Insured Status
General Liability 	
Auto Liability		 Per Project Aggregate Limit
General Liability 	 Waiver of Subrogation in favor of District
General Liability		
Auto Liability		
Workers’ Compensation 	 Expiration Date 		

Note: Applicant must provide a certification that their insurance carrier is authorized to conduct business in Florida. Coverage must be provided on a primary, non-contributory basis.

Has the applicant company been cited by OSHA for any job site or company office/shop safety violations in the past two years? yes ( ) no ( )

If yes, please describe each violation, fine, and resolution 	

What is the applicant's current worker compensation rating? 	

Has the applicant company experienced any worker injuries resulting in a worker losing more than ten (10) working days as a result of the injury in the past two years? yes ( ) no ( )

If yes, please describe each incident 	

Please state whether or not your company or any of its affiliates are presently barred or suspended from bidding or contracting on any state, local or federal-aid contracts in any state(s)? Yes 	 No 	 If so, state the name(s) of the company(ies)

the state(s) where barred or suspended 		 and the period(s) of debarment or suspension 	

What is the construction or maintenance experience of the principal supervisory construction or maintenance personnel of your organization? (Attach resumes here.)

INDIVIDUAL’S NAME	PRESENT POSITION OR OFFICE	MAGNITUDE AND TYPE OF WORK*	YEARS OF CONSTRUCTION
/MAINTENANCE EXPERIENCE	YEARS WITH FIRM	IN WHAT CAPACITY?	

						

						

						
*Give in sufficient detail for the District to evaluate your experience in the classifications of work for which you are requesting prequalification.

Have you ever failed to complete any work awarded to you? Yes 	 No 	 If so, where and why? 	

Has any officer or partner of your organization ever been an officer, partner, or owner of some other organization that has failed to complete a construction or maintenance contract? Yes   No   If so, state name of individual, other organization and reason therefore.

List any and all litigation with owners or major subcontractors to which the Applicant has been a party in the last five (5) years and describe the outcome or resolution.

Has the Applicant or any of its affiliates ever been either disqualified or denied prequalification status by a governmental entity? 	 If so, discuss the circumstances surrounding such denial or disqualification as well as the date thereof.

Within the past five (5) years, has the Applicant failed to complete a project within the scheduled contract time? 	 If so, discuss the circumstances surrounding such failure to complete a project on time as well as the date thereof.

Does the Applicant have adequate equipment to perform normal construction or maintenance operations for each class of work for which prequalification is sought? Yes	 No	 If no, please explain:

INCLUDE THE FOLLOWING INFORMATION WITH THIS APPLICATION:

Applicants shall provide letters of recommendation from at least two agencies or firms with direct knowledge of the applicant’s key personnel and work performance in sufficient detail to assist in rating the applicant’s ability to perform the classification of work for which the applicant is applying for prequalification. The letters must contain specific information regarding the following:

Specific projects, including project numbers and location.
Size of projects by dollar value.
Description of projects and classes of work performed with applicant’s own employees and equipment.
Whether projects were timely completed.
Whether the applicant was cooperative and facilitated changes to the project when required.

(Continued)

Any contractor submitting a Contractor's Prequalification Statement, which in its judgment is adversely affected by the District's rating as to the contractor's qualifications and wishes to protest such decision must file with the District a notice of protest in writing within seventy-two (72) hours (excluding Saturdays, Sundays and state holidays) after receipt of the notice of the District’s ranking, and shall file a formal written protest within seven (7) days (including Saturdays, Sundays and state holidays) after the date of filing of the notice of protest. The formal written protest shall state with particularity facts and law upon which the protest is based. Failure to timely file a notice of protest or failure to timely file a formal written protest shall constitute a waiver of all further proceedings under Florida law and the District’s Rules of Procedure. You may obtain a copy of the District’s Rules of Procedure by contacting the District Manager’s Office at 2501A Burns Road, Palm Beach Gardens, Florida 33410 .

The undersigned hereby authorize(s) and request(s) any person, firm or corporation to furnish any pertinent information requested by the Ave Maria Stewardship Community District, or their authorized agents, deemed necessary to verify the statements made in this application or attachments hereto, or necessary to determine whether the Ave Maria Stewardship Community District should prequalify the applicant for bidding on its construction or maintenance projects, including such matters as the applicant’s ability, standing, integrity, quality of performance, efficiency and general reputation

The Ave Maria Stewardship Community District can terminate its use of the prequalification list for bidding purposes at any time.

By: 	
Name of Applicant Company

[Type Name and Title of Person Signing]

This 	 day of 	, 2023

(Corporate Seal)

Sworn to before me this 	 day of 	, 202  .

Notary Public/Expiration Date (Seal)

Applicant acknowledges receipt of the following addenda:
Addendum No. 		Date 	
Addendum No. 		Date 	

AFFIDAVIT FOR INDIVIDUAL

State of			ss:
County of		

	, being duly sworn, deposes and says that the statements and answers to the questions concerning experience contained herein are correct and true as of this date; and that he/she understands that intentional inclusion of false, deceptive or fraudulent statements on this application constitutes fraud; and, that the District considers such action on the part of the applicant to constitute good cause for denial, suspension or revocation of a certificate of qualification for bidding on Ave Maria Stewardship Community District projects.

Signature

Print Name

Sworn to before me this 	 day of 	, 202  .

Notary Public/Expiration Date: (SEAL)

AFFIDAVIT FOR PARTNERSHIP

State of			ss:
County of		

	, is a member of the firm of 	, being duly sworn, deposes and says that the statements and answers to the questions of the foregoing experience questionnaire are correct and true as of the date of this affidavit; and, that he/she understands that intentional inclusion of false, deceptive or fraudulent statements on this application constitutes fraud; and, that the District considers such action on the part of the applicant to constitute good cause for denial, suspension or revocation of a certificate of qualification for bidding on Ave Maria Stewardship Community District projects.

Signature

Print Name

Sworn to before me this 	 day of 	, 202  .

Notary Public/Expiration Date: (SEAL)

AFFIDAVIT FOR CORPORATION

State of			ss:
County of		

(title) 	 of the 	 (a corporation described herein) being duly sworn, deposes and says that the statements and answers to the questions in the foregoing concerning experience are correct and true as of the date of this affidavit; and, that he/she understands that intentional inclusion of false, deceptive or fraudulent statements in this application constitutes fraud; and, that the District considers such action on the part of the applicant to constitute good cause for denial, suspension or revocation of a certificate of qualification for bidding on Ave Maria Stewardship Community District projects.

(Officer must sign here)

Print Name

CORPORATE SEAL

Sworn to before me this 	 day of 	, 202  .

Notary Public/Expiration Date: (SEAL)

SWORN STATEMENT UNDER SECTION 287.133(3)(a), FLORIDA STATUTES, ON PUBLIC ENTITY CRIMES

THIS FORM MUST BE SIGNED IN THE PRESENCE OF A NOTARY PUBLIC OR OTHER OFFICER AUTHORIZED TO ADMINISTER OATHS.

This sworn statement is submitted to Ave Maria Stewardship Community District for Prequalification of Construction and/or Maintenance Contractors.

This sworn statement is submitted by 	
[Print Name of Entity Submitting Sworn Statement] whose business address is 	
and (if applicable) its Federal Employer Identification Number (FEIN) is 	

(If the entity has no FEIN, include the Social Security Number of the individual signing this sworn statement: 	.)
My name is 	 and my relationship to the

entity named above is 	.
I understand that a "public entity crime" as defined in Section 287.133(1)(g), Florida Statutes, means a violation of any state or federal law by a person with respect to and directly related to the transaction of business with any public entity or with an agency or political subdivision of any other state or with the United States, including, but not limited to, any bid or contract for goods or services to be provided to any public entity or an agency or political subdivision of any other state or of the United States and involving antitrust, fraud, theft, bribery, collusion, racketeering, conspiracy, or material misrepresentation.

I understand that "convicted" or "conviction" as defined in Section 287.133(1)(b), Florida Statutes, means a finding of guilt or a conviction of a public entity crime, with or without an adjudication of guilt, in any federal or state trial court of record relating to charges brought by indictment or information after July 1, 1989, as a result of jury verdict, nonjury trial, or entry of a plea of guilty or nolo contendere.

I understand that an "affiliate" as defined in Section 287.133(1)(a), Florida Statutes, means:
A predecessor or successor of a person convicted of a public entity crime; or,

An entity under the control of any natural person who is active in the management of the entity and who has been convicted of a public entity crime. The term "affiliate" includes those officers, directors, executives, partners, shareholders, employees, members, and agents who are active in the management of an affiliate. The ownership by one person of shares constituting a controlling interest in another person, or a pooling of equipment or income among persons when not for fair market value under an arm's length agreement, shall be a prima facie case that one person controls another person. A person who knowingly enters into a joint venture with a person who has been convicted of a public entity crime in Florida during the preceding 36 months shall be considered an affiliate.

I understand that a "person" as defined in Section 287.133(1)(e), Florida Statutes, means any natural person or entity organized under the laws of any state or of the United States with the legal power to enter into a binding contract and which bids or applies to bid on contracts for the provision of goods or services let by a public entity, or which otherwise transacts or applies to transact business with a public entity. The term "person" includes those officers, directors, executives, partners, shareholders, employees, members, and agents who are active in management of an entity.

Based on information and belief, the statement which I have marked below is true in relation to the entity submitting this sworn statement. (Please indicate which statement applies.)

	 Neither the entity submitting this sworn statement, nor any officers, directors, executives, partners, shareholders, employees, members, or agents who are active in management of the entity, nor any affiliate of the entity, have been charged with and convicted of a public entity crime subsequent to July 1, 1989.

	 The entity submitting this sworn statement, or one or more of the officers, directors, executives, partners, shareholders, employees, members or agents who are active in management of the entity or an affiliate of the entity, has been charged with and convicted of a public entity crime subsequent to July 1, 1989, AND (please indicate which additional statement applies):

	 There has been a proceeding concerning the conviction before an Administrative Law Judge of the State of Florida, Division of Administrative Hearings. The final order entered by the Administrative Law Judge did not place the person or affiliate on the convicted vendor list. (Please attach a copy of the final order.)
	 The person or affiliate was placed on the convicted vendor list. There has been a subsequent proceeding before an Administrative Law Judge of the State of Florida, Division of Administrative Hearings. The final order entered by the Administrative Law Judge determined that it was in the public interest to remove the person or affiliate from the convicted vendor list. (Please attach a copy of the final order.)

	 The person or affiliate has not been placed on the convicted vendor list. (Please describe any action taken by or pending with the Florida Department of Management Services.)

Signature

Print Name
Date: 	

STATE OF 	 COUNTY OF 	

PERSONALLY APPEARED BEFORE ME, the undersigned authority, 	

	  who,  after  first  being  sworn  by  me,  affixed  his/her  signature  in  the (name of individual signing)
space provided above on this 	 day of 	 202  .

NOTARY PUBLIC

My commission expires:

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT CONTRACTOR CLASSIFICATION LISTING

Excavation/Earthwork	7. Stormwater Management
Road Paving	8. Exotic Vegetation Removal

Landscape	9. Lake and Littoral Maintenance

Irrigation
Hardscape

Street Lighting/Electrical

DETERMINATION OF QUALIFIED PROSPECTIVE BIDDER

The Ave Maria Stewardship Community District ("District") is authorized to maintain a list of qualified contractors ("Qualified Prospective Contractors") to submit bids for the procurement of District construction and maintenance projects. Any Qualified Prospective Contractor desiring to submit a bid to provide work for the District must submit a properly completed Contractor's Prequalification Statement to the District Engineer for review and evaluation. Submittal of the Contractor's Prequalification Statement shall occur prior to the bidding process.

The District shall evaluate the Contractor's Prequalification Statement and based on the District’s judgment of the information provided, shall issue in writing to the contractor, the District’s rating as to the classification(s) of the Work and the maximum Bid dollar amount for which the Qualified Prospective Contractor can submit a Bid to the District.

A Qualified Prospective Contractor shall mean a prospective contractor which in the sole judgment of the District has the capability, in all respects, to perform fully the contract requirements, and the business integrity and reliability which will assure good faith performance. In determining the Qualified Prospective Contractor's qualifications, the following criteria will be considered:

The ability, capacity, and skill of the contractor to perform the contract or provide the work required;

Whether the contractor can perform the contract or provide the work promptly, or within the time specified, without delay or interference;

The character, integrity, reputation, judgment, experience, and efficiency of the contractor;

The quality of performance of previous contract or work. For example, the following information will be considered:

The cost overrun incurred by owners on previous contracts with contractor;

The contractor's compliance record with contract general conditions on other projects;

The contractor's record for completion of the work within the Contract Time or within Contract Milestones and contractor's compliance with scheduling and coordination requirements on other projects;

The quality, availability, and adaptability of the goods or work to the particular use required;

The contractor's demonstrated cooperation with owners, architects, engineers, and others on previous contracts; and;

Whether the work performed and materials furnished on other contracts were in accordance with the contract documents; and

Whether contractor has performed previous work for an independent special district.

The previous and existing compliance by the contractor with laws and ordinances relating to contracts or work;

The sufficiency of the financial resources and ability of the contractor to perform the contract or provide the work;

The ability of the contractor to fulfill its guarantee and warranty period;

Such other information as may be secured by the Board having a bearing on the decision to award a contract to include, but not be limited to:

The ability, experience, and commitment of the contractor to properly and reasonably plan, schedule, coordinate, and execute the work; and,

Whether the contractor has ever been debarred from bidding or found ineligible for bidding on any other projects.

The District will make such inquiries and investigations as deemed necessary to verify and evaluate the applicant's statements regarding:

The necessary organization and management including experience possessed by the applicant's employees;

Adequate equipment, as shown on the equipment list, to perform normal operations for each class of work in the industry such as that called for in the contract documents in force at the time of application;

If herein required, or if requested by the District at any time after the conclusion of the initial pre-qualification process, the Qualified Prospective Contractor shall submit a certified financial statement(s) in a form acceptable to the District, prepared no later than the past 180 days, indicating current financial resources, current bonding capacity, liabilities, capital equipment, and past financial history performance. Based on this updated financial information, the District, in its sole discretion, may adjust the Qualified Prospective Contractor’s Prequalification contract limits or deem the Qualified Prospective Contractor no longer qualified with respect to future District Public Infrastructure projects. In this instance, the Qualified Prospective Contractor acknowledges the right of the District to refuse acceptance of a bid from any Qualified Prospective Contractor who fails to submit to the District documentation that may be required by the District. In such a case, such bid shall be rejected as non-responsive.

Furthermore, a Qualified Prospective Contractor acknowledges the right of the District to determine a Qualified Prospective Contractor to be not qualified to submit a Bid in response to the District's Advertisement for Bids at the sole determination of the District for, but not necessarily limited to, any of the following specific reasons:

Failure to submit a properly completed Contractor's Prequalification Statement in accordance with the above requirements;

Failure of the Qualified Prospective Contractor's rating by the District as to classification of the Work and the maximum Bid dollar amount to meet the requirements of the Bid;

Reason to believe that collusion exists among Bidders;

Determination of lack of competency as may be revealed by qualification statements, financial statements, experience records, or other sources;

The Qualified Prospective Contractor's uncompleted work load which, in the judgment of the Board, may cause detrimental impact on timely completion of the project being bid; or

The Qualified Prospective Contractor's Surety is unacceptable to District.

Submission of excessive or unreasonable suggested modifications to the District’s Standard Form of Construction or Maintenance Contract.

Any contractor submitting a Contractor's Prequalification Statement, which in its judgment is adversely affected by the District's rating as to the contractor's qualifications and wishes to protest such decision must file with the District a notice of protest in writing within seventy-two (72) hours (excluding Saturdays, Sundays and state holidays) after receipt of the notice of the District’s ranking, and shall file a formal written protest within seven (7) days (including Saturdays, Sundays and state holidays) after the date of filing of the notice of protest. The formal written protest shall state with particularity facts and law upon which the protest is based. Failure to timely file a notice of protest or failure to timely file a formal written protest shall constitute a waiver of all further proceedings under Florida law and the District’s Rules of Procedure. You may obtain a copy of the District’s Rules of Procedure by contacting the District Manager’s Office at 2501A Burns Road, Palm Beach Gardens, FL 33410.

Ave Maria Stewardship Community District
Expenditures
October 2024 through September 2025

	Oct 24 - Sept 25		24/25 Budget		$ Over Budget		% of Budget	
Expenditures								
01-1130	Payroll Tax Expense	489.60		734.00		-244.40		66.7%	
01-1131	Supervisor Fees	6,400.00		9,600.00		-3,200.00		66.67%	
01-1309	Extraordinary Expense - Developer	34,262.37		0.00		34,262.37		100.0%	
01-1310	Engineering	69,749.35		90,000.00		-20,250.65		77.5%	
01-1311	Management Fees	69,999.96		70,000.00		-0.04		100.0%	
01-1313	Website Management	2,499.96		2,500.00		-0.04		100.0%	
01-1314	District Manager - on site	279,999.96		280,000.00		-0.04		100.0%	
01-1315	Legal Fees	87,741.67		100,000.00		-12,258.33		87.74%	
01-1320	Audit Fees	18,300.00		18,300.00		0.00		100.0%	
01-1330	Arbitrage Rebate Fee	4,550.00		3,900.00		650.00		116.67%	
01-1440	Rents & Leases	935.40		1,000.00		-64.60		93.54%	
01-1441	Travel & Lodging	8,458.34		10,000.00		-1,541.66		84.58%	
01-1450	Insurance	105,369.20		120,000.00		-14,630.80		87.81%	
01-1480	Legal Advertisements	16,139.44		8,000.00		8,139.44		201.74%	
01-1512	Miscellaneous	30,406.59		10,000.00		20,406.59		304.07%	
01-1513	Postage and Delivery	4,459.25		3,000.00		1,459.25		148.64%	
01-1514	Office Supplies	6,762.43		3,500.00		3,262.43		193.21%	
01-1540	Dues, License & Subscriptions	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	47,443.63		40,000.00		7,443.63		118.61%	
01-1734	Continuing Disclosure Fee	10,000.00		12,000.00		-2,000.00		83.33%	
01-1735	Assessment Roll	25,000.00		25,000.00		0.00		100.0%	
01-1801	Landscaping - Miscellaneous	5,765.00		0.00		5,765.00		100.0%	
01-1808	Irrigation Repair	273,310.87		205,000.00		68,310.87		133.32%	
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%	

Ave Maria Stewardship Community District
Expenditures
October 2024 through September 2025

	Oct 24 - Sept 25		24/25 Budget		$ Over Budget		% of Budget	

01-1815 • Miscellaneous Maintenance	
77,048.86		
75,000.00		
2,048.86		
102.73%	
01-1816 • Electric-Streetlights,Landscape	122,833.01		150,000.00		-27,166.99		81.89%	
01-1817 • Maintenance Street Sweeping	14,500.00		30,000.00		-15,500.00		48.33%	
01-1818 • Striping & Traffic Markings	230,593.00		250,000.00		-19,407.00		92.24%	
01-1819 • Street Light Maintenance	145,358.68		140,000.00		5,358.68		103.83%	
01-1820 • Maint Sidewalk/Curb Repairs	78,002.68		200,000.00		-121,997.32		39.0%	
01-1830 • Maintenance Contracts	791,579.62		729,793.00		61,786.62		108.47%	
01-1831 • Tree Trimming	118,313.58		160,000.00		-41,686.42		73.95%	
01-1832 • Storm Cleanup - Landscaping	15,212.50		26,250.00		-11,037.50		57.95%	
01-1833 • Plant Replacement	225,588.66		200,000.00		25,588.66		112.79%	
01-1834 • Mulch	146,529.25		150,000.00		-3,470.75		97.69%	
01-1839 • Entry Feature/Near Well Water	8,964.04		5,500.00		3,464.04		162.98%	
01-1841 • Maintenance Irrigation Water	96,004.56		93,713.00		2,291.56		102.45%	
01-1842 • Maint Fountain/Repair	30,218.17		50,000.00		-19,781.83		60.44%	
01-1843 • Maintenance Rodent Control	19,800.00		25,000.00		-5,200.00		79.2%	
01-1844 • Maint Equipment Repair	340.32		8,400.00		-8,059.68		4.05%	
01-1845 • Maint Signage Repair	26,588.00		20,000.00		6,588.00		132.94%	
01-1846 • Maint Storm Drain Cleaning	33,373.21		52,500.00		-19,126.79		63.57%	
01-1847 • Mnt Drainage/Lke Mnt/Littorals	112,473.93		81,113.00		31,360.93		138.66%	
01-1848 • Maintenance Aerators	0.00		2,100.00		-2,100.00		0.0%	
01-1850 • Maint-Preserve Maintenance	78,936.00		64,890.00		14,046.00		121.65%	
01-1853 • Maintenance Small Tools	3,421.08		7,500.00		-4,078.92		45.61%	
01-1854 • Maint Miscellaneous Repairs	17,391.67		30,000.00		-12,608.33		57.97%	
01-1855 • Maint Vehicle Lease/Fuel/Repair	9,918.77		35,000.00		-25,081.23		28.34%	
01-1859 • Maint-Administrative Supplies	2,100.00		0.00		2,100.00		100.0%	
01-1863 • Maint Base Management Fee	23,040.00		23,000.00		40.00		100.17%	
01-1867 • Asset Management & Software	206,020.99		139,000.00		67,020.99		148.22%	

Ave Maria Stewardship Community District
Expenditures
October 2024 through September 2025

	Oct 24 - Sept 25		24/25 Budget		$ Over Budget		% of Budget	

01-1869 • Operations Team Salaries	
440,001.04		
462,000.00		
-21,998.96		
95.24%	
01-1871 • Verizon - Internet	2,110.48		0.00		2,110.48		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	159,847.89		250,000.00		-90,152.11		63.94%	
01-1893 • Capital Asset Purchase	0.00		110,000.00		-110,000.00		0.0%	
02-028 • Professional Services	160.00		0.00		160.00		100.0%	
511.319 • Methodology Rprt	2,500.00		0.00		2,500.00		100.0%	
Total Expenditures	4,424,180.01		4,773,043.00		-348,862.99		92.69%	

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

November 5, 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

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

Introduction

Purpose

This report (the “Series 2025 Master Bonds Supplement”) supplements the Third Sub-Master Supplemental Assessment Methodology Report (Third Sub-Master Methodology”) dated September 9, 2025. The Third Sub-Master Methodology determines the validity of the assessments and allocates the debt to be incurred by the Ave Maria Stewardship Community District (the “District”) to provide certain master infrastructure improvements to properties in the District and refines that debt allocation to the District acreage. This Series 2025 Master Bonds Supplement determines the special and peculiar benefits arising from the portion of the Capital Improvement Plan (“CIP”) described in the Master Capital Improvement Program for the Ave Maria Stewardship Community District dated May 2, 2006, as supplemented by the Second Supplemental Sub-Master Engineer’s Report for the Ave Maria Stewardship Community District dated September 9, 2025, as such portion is outlined in the Sixth Sub-Master Supplemental Engineer’s Report (“Sixth Sub-Master Supplemental Engineer’s Report”) dated October 14, 2025, (“Phase 5 Master Improvements Project”), and that flow to the parcels of land within the District as described herein. Those benefits are then apportioned peculiar to the property in a manner that is fair and reasonable. Finally, the Series 2025 Master Bonds Supplement determines that none of the actual capital improvement assessments being levied exceed the special and peculiar benefits.

The District is issuing its Capital Improvement Revenue Bonds, Series 2025 (Phase 5 Master Improvements Project) (the "Series 2025 Master Bonds") to finance a portion of the costs of the CIP known as the Phase 5 Master Improvements Project. This Series 2025 Master Bonds Supplement is being provided to allocate the assessments securing the Series 2025 Master Bonds (the "Series 2025 Master Bonds Assessments") to the land within the District benefited by the Phase 5 Master Improvements Project being financed with proceeds of the Series 2025 Master Bonds.

Special Benefits and General Benefits

Improvements undertaken by the District create both special benefits and general benefits. However, the general benefits to the public at large are incidental in nature and are readily distinguishable from the special and peculiar benefits which flow as a logical connection from the systems, facilities and services to property within the District in order to develop such property and use it for residential, commercial, educational and other purposes. Absent the District's CIP, there would be no infrastructure to support development of land within the District, and such development would be prohibited by law.

While the general public and property owners outside the District will benefit from the provision of District infrastructure, these benefits are incidental to the benefits received by property within the District which is dependent upon the District's CIP to obtain, or to maintain, development entitlements. This fact alone clearly distinguishes the special and peculiar benefits which District properties receive compared to those properties lying outside of the District's boundaries and establishes that the CIP has a nexus to the value and the use and enjoyment of the lands within the District.
Requirements of a Valid Assessment Methodology

Valid special assessments under Florida law have two requirements. First, the properties assessed must receive a special and peculiar benefit as a logical connection from the systems and services constituting improvements. The courts recognize the special benefits which flow as a logical connection peculiar to the property as enhanced enjoyment and increased use of the property which in turn may result in decreased insurance premiums, increased value and marketability. Second, the assessments must be fairly and reasonably apportioned in relation to the benefit received by the various properties being assessed.

If these two tests for lienability are determined in a manner that is informed and non-arbitrary by the Board of Supervisors of the District (the "Board"), as a legislative determination, then the special assessments may be levied, imposed and collected as first liens on the property. Florida courts have found that it is not necessary to calculate benefit with mathematical precision at the time of imposition and levy so long as the levying and imposition process is not arbitrary, capricious, or unfair.

Assessment Methodology

Structure - Master Infrastructure Improvements

Special and peculiar benefits flow as a logical connection to the property from the systems, facilities and services provided as a logical consequence to the property within the boundary of the District. These special benefits are peculiar to the acreage and later down to the actual platted units or parcel. The special benefits that justify imposing the assessment on the acreage include enhanced enjoyment and increased use, which may result in such positive consequences as increased value and marketability and decreased insurance premiums when levied on the various platted units or parcels of property.

First the District Engineer identifies the CIP costs, then the Methodology Consultant allocates those costs and debt per acre (and later in the process, per parcel or unit) for the provision of the systems and facilities, which constitute the CIP. The best determination involves whether there is a special benefit peculiar to such property, different in kind and degree than any general benefit, so long as the special benefit flows peculiar to the property as a logical connection from the components of the CIP. Then, a dollar amount of a proposed assessment is identified using various formulas. Then there is a determination of whether that dollar amount itself can be a first lien later to be levied on the platted units. Then there is an apportionment of the benefits so that no dollar amount as assessment exceeds any determination of special and peculiar benefit to the property and that the amount levied on different property owners is fair and reasonable.

The District Engineer determines the costs for the CIP and an estimate of the bond amount required to finance the CIP is calculated. The methodology associated with the CIP is a two-step process. First, the special and peculiar benefits of the CIP will be determined and imposed upon the undeveloped land within the District. Second, the per acre assessments previously imposed will be levied on and allocated to developed and platted parcels within assessment areas for the applicable phased units in accordance with the more specific uses and special benefits peculiar to each platted parcel in the supplemental assessment reports.

Initial Apportionment of Benefits

Initially, the District was comprised of a bundle of undeveloped acres with the potential for development pursuant to, and consistent with, the Ave Maria SRA, upon the acquisition, construction, installation, equipping, operation and maintenance of certain infrastructure. The CIP identifies the master infrastructure improvements needed for the development pursuant to the Ave Maria SRA which will transform the undeveloped acres into developed platted parcels. Therefore, initially, there is a system of interlinked improvements necessary in order to develop each developable acre within the District and, because the specific development cannot be initially determined on any one acre of land, each acre of land benefits equally.

This "proportionate per acre" special benefit from the systems and facilities constituting the components of the CIP is illustrated by the fact that if all of the land were sold in its undeveloped state, its value to a willing buyer would be as a whole and would include the value of the land with development rights from the Ava Maria SRA, adjusted for the cost of development (of which the CIP would be a significant component) and further adjusted for parcel-specific development costs. Thus, each acre would be valued equally since, until development is located, development could occur on any one acre as on any other.

These special benefits are peculiar to the acres of property within the District, are assessed and imposed equally and are real though there is no platted parcel. As development occurs and development rights are absorbed by some acres and other acres are put to other uses, including public uses, the value of the remaining acres and acres put to other uses is adjusted to reflect the development rights (and corresponding infrastructure benefits) which have been used and the effect that those uses have on the remaining undeveloped acres. As supplemental assessment reports are issued, as described above, such reports will take into account the relative benefits derived from the use and enjoyment of the property which is given to the developed and platted property and that which is retained in the yet to be developed property.

The systems, facilities and services constituting the CIP result in special benefits peculiar to the property, whether the property is in acreage or in platted parcels. Such special and peculiar benefits include enhanced enjoyment and increased use, which may result in such positive consequences as increased value and marketability and decreased insurance premiums. The dollar amount of these special and peculiar benefits is not known but is capable of being computed with mathematical certainty in the future. As of the date of this Series 2025 Master Bonds Supplement, the dollar amount of the special assessment levy per acre remains at $75,906 as outlined in the Ave Maria Stewardship Community District Master Assessment Methodology Report dated June 12, 2006, as supplements by the Third Sub-Master Methodology.

Assignment of Assessments

It is useful to consider three broad states or conditions of development within the District. The initial condition is the "unplatted state." At this point infrastructure may or may not be installed but in general, home sites or other development units have not been defined and all of the developable land within the District is considered unplatted acreage ("Unplatted Acres"). In the unplatted state, all of the lands within the District receive benefit from the components of the financed CIP and Assessments would be imposed upon all of the land within the District on an equal acre basis to repay the bonds. As of October 1, 2025, there were 149 single family platted lots and 2,060.16 Unplatted Acres

The second condition is the interim or "approved state." At this point, a developer would have received approval for a site development plan from the County. By virtue of the County granting an approval for its site development plan for a neighborhood or non-residential land, certain development rights are committed to and peculiar to that neighborhood or non-residential land, thereby changing the character and value of the land by enhancing the capacity of the Unplatted Acres within a neighborhood or the non-residential land with the special and peculiar benefits flowing from components of the CIP and establishing the requisite logical connection for the flow of the special benefits peculiar to the property, while also incurring at the same time a corresponding increase in the responsibility for the payment of the levied Assessment to amortize its portion of the debt associated with those improvements.
Therefore, if the District has issued bonds to fund a portion of the CIP at the time a neighborhood or non-residential land receives site development plan approval, and such bonds are secured by Assessments levied in connection with a portion of the CIP that has or will benefit the lands within such area, the District will designate such area, or in combination with other such areas, as an assessment area, and, pursuant to a supplemental assessment report, allocate a portion of this debt to such assessment area in the "approved state". In all cases, appropriate credit shall be given for infrastructure comprising a portion of the CIP that is donated or contributed in lieu of assessments.

This apportionment of benefit in such supplemental assessment report shall be based on accepted practices for the fair and equitable apportionment of special and peculiar benefits in accordance with then applicable law and the procedure for the imposition, levy and collection of non- ad valorem special assessments as set forth in the Act and in conformity with the Constitution and law of the State applicable to such assessments.

Development enters its third and "platted state", as property is platted. Land becomes platted property ("Platted Property") when single family units are platted, or multifamily and non-residential land uses receive a building permit, and a separate tax parcel identification number is issued for such parcel. At this point, and only at this point, is the use and enjoyment of the property fixed and determinable and it is only at this point that the ultimate special and peculiar benefit can be determined flowing from the components of the CIP peculiar to such platted parcel. At this point, a specific apportionment of Assessment will be fixed and determinable from the supplemental assessment report.

Series 2025 Bonds Par Debt and Assessment Calculations
Bond Requirements
A number of items comprise the final par bond requirements. The source of repayment for the Series 2025 Master Bonds are the Series 2025 Master Bonds Assessments that have been imposed and levied on specially benefiting properties as determined by this Series 2025 Master Bonds Supplement. Allowances were made for capitalized interest, debt service reserve, underwriter’s discount, issuance costs, and rounding. Table 5 on page 10 illustrates the Series 2025 Master Bond sizing.
Series 2025 Master Bonds Capital Improvement Program

The District Engineer has identified certain infrastructure that may be provided by the District and has provided a cost estimate for the District’s CIP. The portion of the CIP to be financed from the Series 2025 Master Bonds is detailed in the Sixth Sub-Master Supplemental Engineer’s Report (as defined above the “Phase 5 Master Improvements Project”). The Phase 5 Master Improvements Project consists of roadways, irrigation, master irrigation system, stormwater management, streetlighting plus a 7% contingency to cover future cost increases, professional services and permitting fees.

The Phase 5 Master Improvements Project to be funded by the Series 2025 Master Bonds is shown in Table 4 below.

Table 4. The Ave Maria Phase 5 Master Improvements Project

Series 2025 Master Bonds Capital Improvements	Amount	
1. Anthem Parkway Phase 5	$14,879,169.00	
2. Arthrex Commerce Park Drive Phase 2	125,493.00	
3. Oil Well Road Street Lighting	54,190.00	
4. Peek Way Irrigation	250,000.00	
5. Arthrex Commerce Park - Phase 3	6,720,000.00	
6. Arthrex Commerce Park - Phase 2	1,500,000.00	
7. Ave Maria Blvd. Utility Extension	215,000.00	
8. Oil Well Canal Berm Landscaping	375,623.00	
9. Anthem Parkway Phase 1, 2 and 3	104,164.00	
10. 2025 Stormwater Improvements	204,615.00	
TOTAL SCOPE OF WORK	$24,428,254.00	
7% Contingency 		$1,746,413.00  PROJECT TOTAL	$26,174,667.00
Source: Sixth Sub-Master Supplemental Engineer’s Report.

(Rest of Page left intentionally blank)

Series 2025 Master Bonds Requirements

Table 5 below shows the par amount for the Series 2025 Master Bonds required to finance the Phase 5 Master Improvements Project.

Table 5. Ave Maria Stewardship Community District Series 2025 Master Bonds Sources and Uses

Sources:	Amount	
Bond Proceeds:		
Par Amount	$29,255,000.00	
Original Issue Discount	-$26,265.20	
Total Sources of Funds	$29,228,734.80	
Uses:		
Project Fund	$24,928,254.00	
Contingency	$1,246,413.00	
	$26,174,667.00	
Other Fund Deposits:		
Reserve Fund at 50% of MADS	$991,026.88	
CAPI to 11/1/26	1,501,527.67	
Costs of Issuance	181,000.00	
Underwriter’s Discount	380,315.00	
Rounding	198.25	
Total Uses of Funds	$29,228,734.80	
Source: MBS Capital Markets

(Rest of page left intentionally blank)

Assessment Methodology

Structure

This Series 2025 Master Bonds Supplement outlines a three-step process. First the District Engineer determines the costs for the Phase 5 Master Improvements Project. Secondly, the Methodology Consultant (“MC”) and Bond Underwriter (“BU”) determines the amount of bonds required to finance the Phase 5 Master Improvements Project. Third, the special benefits flow from the Phase 5 Master Improvements Project peculiar to land parcels within the District. In order for the MC to determine these benefits the District Engineer first estimates the costs for all systems and facilities needed to support the Ave Maria development program. Then the costs for all improvements are bonded and allocated to the benefited properties. The MC determines and then apportions fairly and reasonably the special benefits that flow peculiar to the properties. This 2025 Master Bonds Supplement provides the mechanism by which the costs and debt were allocated and the special and peculiar benefits were determined and apportioned to the assessable acres within the District for levy and collection. The Board of Supervisors will make the actual determinations and apportionment and may use this assessment methodology to do so.

Assessment Allocation

The District is undertaking the responsibility of providing all or a portion of the master infrastructure to support vertical development within Ave Maria. As designed, the CIP is an integrated system of improvements that confer special and peculiar benefits to the developable lands within the District.
The Series 2025 Master Bonds Assessments
The District shall allocate the costs and debt to provide the Phase 5 Master Improvements Project to the Series 2025 development program. In the case of the Ave Maria development program, the primary measurement is trip generation since the CIP is heavily focused on road construction. In addition, the irrigation infrastructure parallels the roadways and the land acquisition component of the Ave Maria SRA largely associated with these uses.
The MC 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 District (see Table 1). From there, the MC applied an internal trip generation discount to the appropriate uses within the District where many of those trips will remain within each development node and will not have to go out to the main roadways within the District to get to services since Ave Maria is designed as a “walkable community”.

The percentage of actual trips generated was calculated after the discount. From that point of departure, the MC calculated the percentage of trips that represent the portion of the special and peculiar benefit apportioned to the low affordable housing, assisted living apartments, the retail/entertainment/service component, professional office, hotel, medical facilities and Ave Maria University. The fair and equitable share of debt allocation to the low affordable housing, assisted living apartments, the retail/entertainment/service component, professional office, hotel, medical facilities and Ave Maria University was extinguished pre-financing by a real property contribution in lieu of assessments to the District effectuated by Ave Maria Development, LLC. Accordingly, the trips as a percentage of the total discounted trips for those uses were reallocated over the remaining uses so that the remaining land use categories were allocated their fair and equitable share of the debt.

The proportionate special benefit is peculiar to the property. The determinate special benefits flow from the CIP. It is a logical connection from the CIP. Added use and enhanced enjoyment of the property are two of those special benefits to the property. The special benefits are then apportioned, fairly and reasonably, resulting in the proportionate magnitude special benefit peculiar to the properties. The dollar amount of the assessment does not exceed the value of the benefit.

Utilizing the adjusted percent trip generation allocation percent by assessable product types shown in Table 6 below, the MC allocated the par debt by product type unit. The MC used an equivalent residential unit (“ERU”) to determine the ratio of single family trips versus multi-family trips with the single family unit receiving an ERU of 1 and the multi-family unit receiving an ERU of 0.52. Table 7 below shows the approximate annual Series 2025 Master Bonds Assessments required to amortize the Series 2025 Master Bonds over a 30-year period.
It is important to note that the 2006A Master Bonds, which were refunded in 2019, were allocated to the first 2,000 assessable units. The 2012 Master Bonds, which were refunded in 2022, were allocated to the next 1,937 assessable units. The 2021 Master Bonds were allocated to the next 884 assessable units. The 2023 Master Bonds were allocated to the next 1,771 assessable units. The Series 2025 Master Bonds are projected to first be allocated to the current 149 single family platted lots and then the next 1,337 units following the previous 3,758 assessable units of the total 10,350 potential assessable units again on a first platted, first assigned basis as described herein. The remaining unallocated planned units are expected to receive their permanent assessment in accordance with future bond issuance(s).
The total annualized Series 2025 Master Bonds Assessment shown in Table 6 on the next page is net of any applicable collection fees and assumes payment in November, taking advantage of the 4% discount allowed for early payment. The gross annual assessments shown include such allowances and discounts.

Table 6 also represents a fair and reasonable allocation of the debt incurred by the District.

Table 6. Expected Ave Maria Series 2025 Bonds Debt Allocation
and Annual Assessments

Series 2025 Assessments	Units	ERUs	Par Allocation	Par per Unit	MADS	Net Annual/Unit (1)	Gross Annual/Unit (2)	
Single Family	1,182	1,182.00	$25,803,989	$21,831	$1,748,245	$1,479	$1,600	
Multi-family	304	158.08	3,451,011	$11,352	233,809	$769	$832	
Totals	1,486	1,340.08	$29,255,000		$1,982,054			
Source: Methodology Consultant
Net Annual Assessment Per Unit prior to being grossed up for collection costs associated with tax collector and also the necessary administrative costs incurred by both the property appraiser and tax collector but assumes as if paid in November (Gross x 0.96). Section 197.3632 (2) and Section 197.3632 (8) (c).

Gross Annual Assessment Per Unit grossed up for early payment discounts & collection costs associated with property appraiser and tax collector and also the necessary administrative costs incurred by both the property appraiser and tax collector but assumes as if paid in November. Section 197.3632 (2) and Section 197.3632 (8) (c).

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 peculiar to the 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 peculiar to that property.
The per unit allocation amounts in Table 6 represent the anticipated per unit debt allocations assuming all anticipated residential units are built in the proportions planned, and the entire proposed development program is developed.
True-Up Mechanism

In order to assure that the District’s debt will not build up on the remaining undeveloped acres as the development progresses, the District shall apply the following true up test.

The test is that the debt per acre remaining on the undeveloped acres is never allowed to increase above its ceiling debt per acre level (the “True Up Test”). Initially, the ceiling level of debt per acre is calculated as the total amount of debt for the CIP divided by the number of undeveloped acres identified in Appendix 1. In this case the ceiling is calculated as $26,002,181.00 ($29,255,000.00 par debt minus the $3,252,819.00 of par debt allocated to the 149 platted single family lots) divided by the 2,060.16 acres identified in Appendix 1, equaling $12,621.44 per acre. Thus, every time the True Up Test is applied, the debt on the unallocated acres must remain equal to or lower than $12,621.44 per acre. If not, the District would require a density reduction payment in an amount sufficient to reduce the remaining debt per acre to the ceiling amount.

The first True Up Test shall be applied at the time 50% of the total units identified in the Third Sub-Master Methodology are platted. The second True Up Test shall be applied at the time 75% of the total units identified in the Third Sub-Master Methodology are platted. The third test shall be applied at the time 90% of the total units identified in the Third Sub-Master Methodology are platted. Table 7 below shows the true-up allocations at each particular test period. A True Up test may also be applicable if, after the project is entirely platted, the development plan changes requiring an amendment to existing plats within the District. Since all of the property has been platted and the debt assigned, the true-up tests described above will only be applicable if there are amendments to the existing plat that result in a different Unit count or configuration.

Table 7. Ave Maria Stewardship District True-Up Mechanism

True Up Analysis	50%	75%	90%	
Cumulative Units	743	1,115	1,337	
Unallocated Units	743	371	149	
Debt per acre	$12,621.44	$12,621.44	$12,621.44	
Source: Methodology Consultant

If at the time the 50%, 75% or 90% True Up Tests are given it is determined that the ceiling debt is breached, the District may suspend the true up payment if the landowners can show that there is sufficient development potential in the remaining acreage to build the densities required to amortize the bonds. A determination of the suspension of a required true up payment will be made at the sole discretion of the District.
Clarifications and Amplifications

All assessments levied run with the land. 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 associated with the Phase 5 Master Improvements Project will be initially distributed among the 149 single family lots identified in Appendix 1 on the next page then on an equal acreage basis across all of the remaining 2,060.16 acres subject to such debt. Each such acre within the District will be assessed equally since, until development is located, development could presumably occur on any one acre as on any other. As plats are approved lots will be assessed in the manner described herein.

The following Appendix 1 Tax Roll shows the initial assessments on a per platted unit and per acre basis for the Phase 5 Master Improvements Project.

Appendix 2 on page 22 shows the lands to be included in the Series 2025 Master Bond issue.

Appendix 3 on page 24 shows the Ave Maria Master Plan by master bond series issue.

APPENDIX 1
Initial Series 2025 Master Bonds Per Acre Assessment Roll

FOLIO NUMBER	ACRES	OWNER	PAR DEBT	
00138600301	4.98	AVE MARIA DEVELOPMENT LLLP	$62,830.67	
22671200026	2.84	AVE MARIA DEVELOPMENT LLLP	$35,857.06	
00138601504	6.23	AVE MARIA DEVELOPMENT LLLP	$78,610.18	
22671200123	3.04	AVE MARIA DEVELOPMENT LLLP	$38,366.51	
22671200220	3.44	AVE MARIA DEVELOPMENT LLLP	$43,358.50	
00227006405	52.87	AVE MARIA DEVELOPMENT LLLP	$667,281.19	
22671004303	1.83	AVE MARIA DEVELOPMENT LLLP	$23,134.96	
22671002800	1.40	AVE MARIA DEVELOPMENT LLLP	$17,703.17	
00138602600	156.68	AVE MARIA DEVELOPMENT LLLP	$1,977,524.72	
22671201902	1.74	AVE MARIA DEVELOPMENT LLLP	$21,900.03	
22671201805	1.63	AVE MARIA DEVELOPMENT LLLP	$20,521.54	
22671202008	2.91	AVE MARIA DEVELOPMENT LLLP	$36,774.72	
22671201119	1.73	AVE MARIA DEVELOPMENT LLLP	$21,776.17	
00138601038	5.89	AVE MARIA DEVELOPMENT LLLP	$74,336.37	
00227004009	39.67	AVE MARIA DEVELOPMENT LLLP	$500,731.16	
22671000394	7.81	AVE MARIA DEVELOPMENT LLLP	$98,566.72	
00226320506	0.79	AVE MARIA DEVELOPMENT LLLP	$9,999.07	
22671005603	1.42	AVE MARIA DEVELOPMENT LLLP	$17,973.91	
00226320603	9.69	AVE MARIA DEVELOPMENT LLLP	$122,352.79	
138521338	325.68	BARRON COLLIER PARTNERSHIP, LLLP	$4,110,557.33	
00138560001	101.19	BARRON COLLIER PARTNERSHIP LLP & AMULT LLC	$1,277,153.95	
00226240204	514.63	BARRON COLLIER PARTNERSHIP LLP & AMULT LLC	$6,495,357.04	
00226440114	201.24	BARRON COLLIER PARTNERSHIP LLP & AMULT LLC	$2,539,963.44	
00226440004	168.78	BARRON COLLIER PARTNERSHIP LLP & AMULT LLC	$2,130,288.51	
22671005506	34.45	BARRON COLLIER PARTNERSHIP LLP & AMULT LLC	$434,858.23	
00226360207	78.07	BARRON COLLIER PARTNERSHIP LLP & AMULT LLC	$985,332.09	
00115280003	1.74	BARRON COLLIER PARTNERSHIP LLP & AMULT LLC	$21,970.88	
00138601025	80.40	CC AVE MARIA II LLC	$1,014,721.04	
00138601708	5.96	CC AVE MARIA II LLC	$75,199.67	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	

FOLIO NUMBER	ACRES	OWNER	PAR DEBT	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	

FOLIO NUMBER	ACRES	OWNER	PAR DEBT	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	

FOLIO NUMBER	ACRES	OWNER	PAR DEBT	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	DIVOSTA HOMES LP	$21,831.00	
22435008244	10.00	DIALUM REALTY INC	$126,226.08	
22435008066	14.72	RES COLLIER HOLDINGS LLC	$185,767.83	
00227006308	5.83	RES COLLIER HOLDINGS LLC	$73,566.27	
22671202105	3.01	NCH HEALTHCARE SYSTEM INC	$37,927.58	
00138602707	6.28	MILLROSE PROPERTIES FL LLC	$79,226.51	
00138602707	2.06	MILLROSE PROPERTIES FL LLC	$25,970.43	
00138602707	2.80	MILLROSE PROPERTIES FL LLC	$35,339.00	
00138602707	2.73	MILLROSE PROPERTIES FL LLC	$34,468.48	
00138602707	1.72	MILLROSE PROPERTIES FL LLC	$21,654.46	
00227006609	15.62	OWAM LLC	$197,205.73	
22673901365	7.13	PULTE HOME COMPANY LLC	$89,990.75	
22673901624	0.10	PULTE HOME COMPANY LLC	$1,262.14	
00138602804	124.94	PULTE HOME COMPANY LLC	$1,576,920.72	
00226440130	16.41	PULTE HOME COMPANY LLC	$207,117.57	
227082403	18.52	PULTE HOME COMPANY LLC	$233,748.77	
00226440127	4.69	PULTE HOME COMPANY LLC	$59,194.48	
227082306	4.88	PULTE HOME COMPANY LLC	$61,592.55	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	

FOLIO NUMBER	ACRES	OWNER	PAR DEBT	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Awaiting Folio Number from CCPA	Single Family	PULTE HOME COMPANY LLC	$21,831.00	
Grand Total	2,060.16		$29,255,000.00	

*Notes:
Acreages reported hereon include only that portion of each folio within the Ave Maria SRA line as depicted on the map titled "Lands to be included in 2025 Master Bonds, as of 8/31/2025". in Appendix 2.

Acreages reported hereon are calculated based on Collier County Property Appraiser GIS linework, and may vary slightly from the acreages stated on either the Property Appraiser Property Summary Page or surveys or legal descriptions of the subject properties.

APPENDIX 2

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

LANDS TO BE INCLUDED IN THE SERIES 2025 MASTER BONDS ISSUE

APPENDIX 3

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

AVE MARIA MASTER DEVELOPMENT PLAN BY MASTER BOND SERIES ISSUE

I	BUILDER	JIIZZAIONOS

202580NDS

2023B0NDS

TOTALPlATTEDAND
AUDCATEOLOTS

f..,	Le_n_no_,_Ho_m_e_,_·T_h_e_N_ati_o_na_l_+----------;l------+---3-0_31-----:2-64-+---7-1_8+-------1	'l,_28_5

i	Lennar Homes - Millrose Properties

:n	31

�---CC_A_ve_M_a-ria_/_C_C-Av_e_M_a-,i--'a-E,-ta-te-,+---------II-----B-6-81-----3-14-+---9-5-0l-----4-9-9+-------1	,-63-2-1.I

[	Pulte/ Del Webb

16	1,047

267

721

523

149

2,723

,-----M-a,-te_r_Deve_l_op-e-,----+-------+-----69-+----l------+----+-------1	7-0--

TOTALS

18	1,984

884

1,935

1,771

149

6,741

Master De�elopment By Bond Serles	_	08/31/2025	Unplatled Future Residential

L

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