AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

COLLIER COUNTY Regular Board Meeting & Public Hearing August 4, 2026
6:00 P.M.

Grand Hall at Del Webb
6008 Del Webb Way 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 & PUBLIC HEARING
August 4, 2026
6:00 p.m.
Grand Hall at Del Webb 6008 Del Webb Way
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 on Agenda Items
Approval of Minutes
July 7, 2026 Regular Board Meeting Minutes…	Page 5
Public Hearing – Fiscal Year 2026/2027 Final Budget
Proof of Publication…	Page 14
Receive Public Comments on Fiscal Year 2026/2027 Final Budget and Assessments…	Page 18
Consider Resolution No. 2026-17 – Adopting a Fiscal Year 2026/2027 Final Budget
Appropriation Resolution…	Page 20
Consider Resolution No. 2026-18 – Adopting an Annual Assessment Resolution for Fiscal
Year 2026/2027…	Page 45
Consider Resolution No. 2026-19 – Adopting a Fiscal Year 2026/2027 Master Irrigation
Utility System Budget…	Page 64
Consider Approval of Fiscal Year 2026/2027 Developer Funding Agreement…	Page 67
Old Business
AMSCD Projects Update…	Page 72
Update on Board Seat Turnover Analysis, Process and Timeline…	Page 73
New Business
Consider Resolution No. 2026-20 – Adopting a Fiscal Year 2026/2027 Meeting Schedule…	Page 76
Consider Approval Sixth Amendment to Davey Tree Agreement…	Page 80
Consider Approval of Renewal to Audit with Grau & Associates…	Page 99
Consider Approval of Temporary License Agreement with Publix for Dumpster Storage
on District Property…	Page 105
Discussion Regarding Ave Maria Having its own Zip Code

Administrative Matters
Legal Report
Engineer Report
Manager’s Report
Financials…	Page 117
Final Public Comments
Board Member Comments
Adjourn

*Public Comment will be limited to three minutes (3:00) with no rebuttal

Clerk of the Circuit Court and Comptroller - Crystal K. Kinzel
Collier County, Florida
3315 Tamiami Trail East, Ste. 102 - Naples, FL 34112-5324 Phone: (239) 252-2646

Affidavit of Publication
COLLIER COUN'IY STATE OF FLORIDA

Before the undersigned authority personally appeared Stephanie Martinez-Gonzalez, who on oath says that he or she is a
Deputy Clerk of the Circuit Court of Collier County, Florida; that the attached copy of advertisement, AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
(AUGUST 4, 2026) NOTICE OF PUBLIC HEARING TO CONSIDER THE ADOPTION OF THE FY 2026/2027 BUDGET; NOTICE OF PUBLIC HEARING TO CONSIDER THE IMPOSITION OF OPERATIONS AND MAINTENANCE SPECIAL ASSESSMENTS, ADOPTION OF AN ASSESSMENT ROLL, AND THE LEVY, COLLECTION, AND ENFORCEMENT OF THE SAME; AND NOTICE OF REGULAR BOARD OF SUPERVISORS'
MEETING was published on the publicly accessible website https://notices.collierclerk.com as designated by Collier County, Florida on 07/15/2026 until 07/22/2026.

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Affiant further says that the website complies with all legal requirements for publication in chapter 50, Florida Statutes.

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AVE MARIA STEWARDSHIP COMMUNITY DISTRICT (AUGUST 4, 2026)

NOTICE OF PUBLIC HEARING TO CONSIDER THE ADOPTION OF THE FY 2026/2027 BUDGET; NOTICE OF PUBLIC HEARING TO CONSIDER THE IMPOSITION OF OPERATIONS AND MAINTENANCE SPECIAL ASSESSMENTS, ADOPTION OF AN ASSESSMENT ROLL, AND THE LEVY, COLLECTION, AND ENFORCEMENT OF THE SAME; AND NOTICE OF REGULAR BOARD OF SUPERVISORS' MEETING.

The Board of Supervisors ("Board") for the Ave Maria Stewardship Community District ("District")
will hold the following public hearings and regular meeting:

DATE: TIME: LOCATION:

August 4, 2026
6:00 P.M.
Grand Hall at Del Webb 6008 Del Webb Way
Ave Maria, Florida 34142

The first public hearing is being held pursuant to Chapter 2004-461, laws of Florida, to receive public comment and objections on the District's proposed budget ("Proposed Budget") for the fiscal year beginning October 1, 2026, and ending September 30, 2027 ("FY 2026/2027"). The second public hearing is being held pursuant to Chapter 2004-461, Laws of Florida, to consider the imposition of operations and maintenance special assessments ("O&M Assessments") upon the lands located within the District to fund the Proposed Budget for FY 2026/2027; to consider the adoption of an assessment roll; and to provide for the levy, collection, and enforcement of O&M Assessments. At the conclusion of the public hearings, the Board will, by resolution, adopt a budget and levy O&M Assessments as finally approved by the Board. A regular Board meeting of the District will also be held where the Board may consider any other District business that may properly come before it.

Description of Assessments
The District imposes O&M Assessments on benefitted property within the District for the purpose of funding the District's general administrative, operations, and maintenance budget. A description of the services to be funded by the O&M Assessments, and the properties to be improved and benefitted from the O&M Assessments, are all set forth in the Proposed Budget. A geographic depiction of the property potentially subject to the proposed O&M Assessments is identified in the map attached hereto. The table below shows the schedule of the proposed O&M Assessments, which are subject to change at the hearing:

Land Use	Total# of Units Platted	Per	Unit Type	Proposed Fiscal Year 2026/2027  Annual
O&M	Assessment	(Including Collection Costs/Early Payment Discounts)	
Multi Family/ Attached	1,136	Unit	$984.20	
Single Family/ Detached	5,023	Unit	$984.20	
ALF Apartments	0	Unit	$105.41	
Apartments	0	Unit	$283.89	
MB Low Affordable Housing	48	Unit	$200.82	
Goods and Services	219,138	Sq. Ft.	$0.47	
Mini	Warehouse	(Self
Storage)	50,353	Sq. Ft.	$0.14	

Light Manufacturing	417,048	Sq. Ft.	$0.93	
Hotel	0	Room	$500.34	
Institutional	-	AM University	1,359	Student	$52.10	
Private K-12 School	582	Student	$129.41	

NOTE: THE DISTRICT RESERVES ALL RIGHTS TO CHANGE THE LAND USES, NUMBER OF UNITS, EQUIVALENT ASSESSMENT OR RESIDENTIAL UNIT ("EAU/ERU") FACTORS, AND O&M ASSESSMENT AMOUNTS AT THE PUBLIC HEARING, WITHOUT FURTHER NOTICE.

The proposed O&M Assessments as stated include collection costs and/or early payment discounts imposed on assessments collected by the Collier County ("County") Tax Collector on the tax bill. Moreover, pursuant to Section 197.3632(4 ), Florida Statutes, the lien amount shall serve as the "maximum rate" authorized by law for O&M Assessments, such that no public hearing on O&M Assessments shall be held or notice provided in future years unless the O&M Assessments are proposed to be increased or another criterion within Section 197.3632(4), Florida Statutes, is met. Note, the O&M Assessments do not include debt service assessments previously levied by the District, if any.

For FY 2026/2027, the District intends to have the County Tax Collector collect the O&M Assessments imposed on certain developed property and will directly collect the O&M Assessments on the remaining benefitted property, if any, by sending out a bill no later than November of this year. It is important to pay your O&M Assessment because failure to pay will cause a tax certificate to be issued against the property which may result in loss of title or, for direct billed O&M Assessments, may result in a foreclosure action which also may result in a loss of title. The District's decision to collect O&M Assessments on the County tax roll or by direct billing does not preclude the District from later electing to collect those or other assessments in a different manner at a future time.

Additional Provisions
The public hearings and meeting are open to the public and will be conducted in accordance with the provisions of Florida law. A copy of the Proposed Budget, proposed assessment roll, and the agenda for the public hearings and meeting may be obtained at the offices of the District Manager, Special District Services, Inc., 2501A Burns Road, Palm Beach Gardens, Florida 33410, Phone (561) 630-4922 ("District Manager's Office"), during normal business hours, or by visiting the District's website at https://avemariastewardshipcd.org/. The public hearings and meeting may be continued in progress to a date, time certain, and place to be specified on the record at the public hearings or meeting. There may be occasions when staff or board members may participate remotely via audio and/or visual technology.

Any person requiring special accommodations at the public hearings or meeting because of a disability or physical impairment should contact the District Manager's Office at least forty-eight (48) hours prior to the public hearings and 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 Manager's Office.

Please note that all affected property owners have the right to appear at the public hearings and meeting and may also file written objections with the District Manager's Office within twenty days of publication of this notice. Each person who decides to appeal any decision made by the Board with respect to any matter considered at the public hearings or 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.

Allyson Holland District Manager

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COMMUNITY DISTRICT

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PUBLISH: COLLIER COUNTY WEBSITE	MIDNIGHT ON WED., 07/15/26 UNTIL MIDNITE ON WED., 07/22/26

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT REGULAR BOARD MEETING
JULY 7, 2026
4:00 p.m.
Grand Hall at Del Webb 6008 Del Webb Way
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 July 7, 2026, Regular Board Meeting of the Ave Maria Stewardship Community District (the “District”) was called to order a 4:00 p.m. at Grand Hall at Del Webb located at 6008 Del Webb Way, Ave Maria, Florida 34142. It was noted that this meeting was being recorded.

PLEDGE OF ALLEGIANCE

INVOCATION

Mr. 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 on the publicly accessible website https://notices.collierclerk.com, as designated by Collier County on June 29, 2026, until June 30, 2026, 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 via Zoom	
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 (via Zoom)	Special District Services, Inc.	
General Counsel	Alyssa Willson (via Zoom)	Kutak Rock, LLP	
District Engineer	Ted Tryka	LJA Engineering, Inc.	
Owner Representative	David Genson (via Zoom)	Barron Collier Companies	

Also present were the following:
Donny Diaz, Liesa Priddy, Commissioner Bill McDaniel, and approximately 20 members of the public. There were also approximately 8 people present via Zoom.

ADDITIONS OR DELETIONS TO AGENDA

[Recording time: 1:10 – 2:50]
Ms. Holland requested the following:

Correction to agenda, items in meeting book are correct – Item J.4.B. agenda should read Change Order No. 5, not Change Order No. 2.
Construction Funding Agreement, add as Item J.1.e.
Discussion regarding the 20th Anniversary of Ave Maria pursuant to Mr. Klucik’s request, add to the end of New Business, as item J.7.

Mr. Klucik informed Ms. Holland that he did not want to add the discussion of the 20th Anniversary of Ave Maria to the agenda at this time.

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

COMMENTS FROM THE PUBLIC
There was no public comment at this time.
APPROVAL OF MINUTES
June 2, 2026, Regular Board Meeting

[Recording time: 3:08 – 3:25]
The minutes of June 2, 2026, Regular Board Meeting were presented for consideration.

A motion was made by Mr. Casalanguida, seconded by Mr. DiFlorio and passed unanimously approving the minutes of the June 2, 2026, Regular Board Meeting, as presented.
OLD BUSINESS
AMSCD Projects Update
[Recording time: 3:26 – 9:10] Ms. Holland stated that District project updates were provided in the meeting book. Mr. DiFlorio asked if the crosswalk improvements were completed this year. Ms. Holland provided a summary of what had been completed. Mr. DiFlorio thanked Ms. Holland for the improvements that were completed.

Mr. Klucik stated that, unrelated to the projects, he was texting with a resident who was at the White House, who would like to speak about the budget.

A motion was made by Mr. Klucik, seconded by Mr. Casalanguida to allow Mr. Roy Leonardson to speak outside of public comment on an item not on the agenda. Mr. Leonardson, who joined via Zoom, introduced himself and cautioned against the $175,000 budgeted for lobbyists. He stated that the District would not need lobbyists to pass District business through legislation. He confirmed that he would put his statements in writing for the record.

NEW BUSINESS

Arthrex Commerce Park Phase 3

[Recording time: 9:11 – 49:40] Ms. Holland introduced this item and displayed the phasing plan on the television, which was also printed on 11x17 for the Board Members.

Ms. Holland reviewed the Arthrex Commerce Park Phase 3 (ACP3) project description and components. Improvements consist of roadway, drainage, underground utilities, and landscape & irrigation in preparation for future development. This project includes filling in a portion of the Oil Well Road canal in preparation for a proposed faux bridge, Oil Well Road public right-of-way turn lane improvements, and turn lane improvements on Ave Maria Boulevard. The ACP3 project is included in the Sixth SubMaster Supplemental Engineer’s Report for the Ave Maria Stewardship Community District Series 2025 Master Bonds. The invitation to bid (ITB) was emailed to the District’s pre-qualified contractors in the necessary categories on June 5, 2026. Bids were due on June 19, 2025. The District Engineer conducted a bid analysis, which included discussions with the District Manager, the Engineer of Record, and District Legal Counsel. The District Engineer prepared a memorandum with the Bid Results and Recommendation of Award of Contract. Ms. Holland introduced Mr. Tryka to provide a summary of the bid results

Mr. Tryka presented the bid results and his recommendation of award. He explained that ten bids had been received and the different categories that were submitted. Mr. Tryka explained that the District could save money by selecting separate contractors for their specialties, and he reviewed the contractors who were low bidders [for each component of the project], listed below. Mr. Tryka recommended the Board approve four contractors for four separate categories as follows:
Earthwork & Paving awarded to Earth Tech Enterprises, Inc.
Drainage & Utilities awarded to Haskins, Inc.
Conduit & Lighting awarded to American Infrastructure Services, Inc. (AIS)
Landscaping & Irrigation awarded to O’Donnell Landscapes, Inc.

Mr. Klucik asked if the berm shown in the phasing plan was intended to be a developer commitment. Ms. Holland explained that the berms were included in the engineer’s report for the 2023 and 2025 bond issuances. Mr. Klucik stated the berms were not required by code and that the berms were intended to be a developer commitment. Mr. DiFlorio recalled that the berm was intended to be a developer commitment. Mr. Genson stated that it was originally a developer commitment, but that was corrected in the 2023 bond issuance, and that the berm is required by code, but not to the extent of the landscaping that will be planted. Mr. Klucik responded that it did not make sense for the District, ultimately the taxpayers, to pay since the berm is a developer commitment and it does not benefit the District. Mr. Genson stated that he understood Mr. Klucik’s position, and that he would research the history and bring this back to the Board. Discussion ensued between Mr. Klucik and Mr. Genson. Ms. Holland explained that the orange and blue colored areas [in the phasing plan] were part of the 2025 Master Bond issuance and the green and red colored areas were anticipated to be part of the anticipated 2027 Master Bond issuance.

Consider Resolution No. 2026-15 – Awarding Construction Contract
Resolution No. 2026-15 was presented, entitled:

RESOLUTION NO. 2026-15

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT REGARDING THE AWARD OF CONSTRUCTION CONTRACTS AND EXECUTION OF APPLICABLE COST SHARES; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

A motion was made by Mr. Casalanguida, seconded by Mr. DiFlorio and passed unanimously adopting Resolution 2026-16 – Awarding Construction Contract, and directing staff to research the history of the potential developer contribution related to the berm and bring back findings.

Follow up discussion ensued amongst the Board Members.

Consider Approval of Cost Share Agreement with Ave Maria Utility Company

Ms. Holland explained that similar to previous District construction projects, ACP3 includes utilities which were included in the ITB. Ave Maria Utility Company (AMUC) owns and operates the water and wastewater utilities, and AMUC will pay for the cost of the utility work items included with the project, approximately $2.1 Million. A Cost Share Agreement with AMUC has been prepared for the Board’s consideration. Mr. Roth asked if there were any changes to this agreement compared to past agreements, and Ms. Willson confirmed that this agreement was similar to past agreements.

A motion was made by Mr. Casalanguida, seconded by Mr. DiFlorio and passed unanimously approving the Cost Share Agreement with Ave Maria Utility Company, as presented.
Consider Approval of Amendment to Agreement for Project Engineering Services

Ms. Holland presented this item and explained that the Amendment to the Agreement with Peninsula Engineering for Project Engineering Services was included to update the rate schedule. The current rate schedule was approved by the Board in April of 2024, and pursuant to the agreement, Peninsula Engineering may request a renegotiation of hourly rates annually. Note that this is the first time the rate schedule has been requested to be modified. Mr. Roth asked for the increased percentage. Mr. Hurst responded that the increase was 5 to 10 percent over the past two years. Mr. Casalanguida asked Mr. Tryka about rate increases and Mr. Tryka stated that rates were increasing and the proposed rates were reasonable. Mr. Klucik asked if Peninsula was owned by Barron Collier and Mr. Hurst confirmed it was. Mr. Klucik asked if Peninsula would be willing to limit the increase to cost of living rather than 5 to 10 percent since there was a special partnership. Mr. Genson stated that he may be willing to apply a discount to the proposed rates. He will bring this back to the Board at the next meeting; there is no urgency to approve at this time.

A motion was made by Mr. Casalanguida, seconded by Mr. DiFlorio and passed unanimously continuing the Amendment to Agreement for Project Engineering Services, as presented.

Consider Approval of Work Authorization No. 3 to Peninsula Engineering

Ms. Holland presented this item and explained that Work Authorization No. 3 for Peninsula Engineering was prepared in accordance with the current agreement for project engineering services. The work authorization includes engineering services related to the ACP3 project. Ms. Holland suggested continuing this item as well because the rates were not approved. Mr. Hurst stated that the work authorization was billed time and material and the hours could be billed at the old [current] rates. Ms. Willson confirmed that

the rates could be adjusted if/when approved by the Board, and she believed there was necessary work that needed to be done under this work authorization in a timely fashion with the ACP3 project. Mr. Hurst confirmed.

A motion was made by Mr. Casalanguida, seconded by Mr. DiFlorio and passed unanimously approving Work Authorization No. 3 to Peninsula Engineering, subject to the old [current] rates and with the understanding that a cost share agreement would be brought before the Board if changes to the berm result in a developer contribution, as presented.

Consider Approval of Construction Funding Agreement with Ave Maria Development

Ms. Holland presented this item and explained that the Construction Funding Agreement with Ave Maria Development (AMD) was included with this item, as phase 3B was intended to be funded with the anticipated 2027 bonds. Because Phase 3B is not part of the 2025 Master Bonds project, AMD needs to fund that portion and seek reimbursement from the anticipated 2027 bonds. The construction funding agreement has been prepared to facilitate such. Mr. Klucik asked if anything was different in this agreement compared to prior construction funding agreements. Ms. Willson confirmed it was substantially similar but clarified the agreement was modified to include the concept of inclusion of a project within the anticipated future bonds and it retains the ability for reimbursement [in the event the project is included in the scope of a future bond issuance].

A motion was made by Mr. Casalanguida, seconded by Mr. DiFlorio and passed unanimously approving the Construction Funding Agreement with Ave Maria Development, as presented.
Consider Resolution No. 2026-16 – Adopting Methodology Consultant Services RFQ, Evaluation Criteria, and Appointing Evaluation Committee

[Recording time: 49:43 – 1:01:53] Resolution No. 2026-16 was presented, entitled:

RESOLUTION NO. 2026-16
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT AUTHORIZING REQUEST FOR QUALIFICATIONS OF METHODOLOGY CONSULTANTS; APPROVING EVALUATION CRITERIA; APPOINTING AN EVALUATION COMMITTEE; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

Ms. Holland introduced this item. She explained that the Board directed staff to assemble a request for qualifications (RFQ) for a methodology consultant to review and analyze the Latitude property for special benefits [from the District]. Staff prepared the RFQ (page 47 and 48 of the meeting book) for Board consideration, which includes competitive selection criteria, which is not required, but staff believes that including selection criteria establishes a benchmark for evaluating consulting firms.

Ms. Holland requested Board direction with respect to the anticipated timeline for consultant’s review and preparation and presentation of the methodology report. Ms. Holland recommended the Board appoint an evaluation committee to review and prepare a written recommendation to the Board regarding analysis of the submittals. Pursuant to discussion with Mr. Wodraska, staff recommends Allyson Holland, Ted Tryka, and Jay Roth for the evaluation committee.

Mr. Klucik stated that he would recommend himself for the committee instead of Mr. Roth. Mr. Casalanguida stated that he would recommend Mr. DiFlorio instead of Mr. Klucik. After discussion ensued amongst the Board Members, the Board agreed to recommending Mr. Klucik for the committee.

Ms. Willson requested Board’s direction on timelines and she provided recommendations. Mr. Klucik stated that he was confused about what the committee did and confirmed that he did not need to be on the committee. Ms. Willson explained that there was nothing binding for the Board on the committee’s recommendations. Mr. Roth agreed to be on the evaluation committee as the third member along with Allyson Holland and Ted Tryka.

The Board agreed on the following timeframes:

Publishing notice for the RFQ – 30 days
Review proposals, hold evaluation committee meeting, and prepare written recommendation for the Board – 2 weeks
Board considers evaluation committee recommendation, qualification submittals and determines who is selected to perform the methodology – September Board meeting
Methodology consultant prepares report – 90 days (can be negotiated if necessary)
Methodology consultant presents preliminary report at Board meeting – TBD

A motion was made by Mr. DiFlorio, seconded by Mr. Casalanguida and passed unanimously adopting Resolution 2026-16 – Adopting Methodology Consultant Services RFQ, Evaluation Criteria, and Appointing Evaluation Committee, including the timeframes listed above.

Consider Approval Ave Maria Entry Letter Replacement by US Sign & Mill Corporation

[Recording time 1:01:55 – 1:14:10] Ms. Holland presented this item. She explained that she received a proposal from US Sign & Mill Corporation to replace the Ave Maria entry letters on the monument entry feature on Ave Maria Boulevard. US Sign & Mill Corporation provided three different color rendering drawings in “Ave Maria blue,” black, and navy blue. Ms. Holland emailed the renderings to the Board a few weeks ago so they had time to review prior to the posting of the meeting book.

Ms. Holland explained that District legal counsel prepared an Addendum to the US Sign & Mill Corporation Proposal which includes statutory payment terms, requirements to comply with governmental requirements/public records items which are required to be included. Staff will include the color option in the proposal once agreed upon by the Board. Ms. Holland asked for Board discussion on the color, starting on page 55 of the meeting book. Mr. Klucik asked if anyone from US Sign & Mill Corporation was on the call, and Ms. Holland indicated that they were not. Mr. Klucik questioned if the blue color would fade more quickly than the others. Discussion ensued amongst the Board Members regarding the color selection. Ms. Holland noted that staff planned to have the artificial stone cleaned/pressure washed and sealed prior to replacing the letters. The cost for the letter replacement is $27,153.54, which is well under the cost previously projected for this work ($45,000). Mr. DiFlorio suggested getting input from the residents in the audience. After a lengthy discussion amongst the Board, staff, and the audience, it was agreed upon to move forward with Option 1, the “Ave Maria” blue color.
A motion was made by Mr. Klucik, seconded by Mr. Casalanguida and passed unanimously approving the Ave Maria Entry Letter Replacement by US Sign & Mill Corporation, as presented, moving forward with Option 1 [Ave Maria Blue].

Consider Change Orders in Conjunction with the Anthem Parkway Ph 5A Project

Change Order No. 10 to Agreement with Earth Tech Enterprises, Inc.
Change Order No. 2 5 to Agreement with O’Donnell Landscapes, Inc.

[Recording time 1:14:15 – 1:18:59] Ms. Holland presented this item.

Ms. Holland explained that Change Order #10 to Earth Tech Enterprises for Anthem Parkway Phase 5A includes the sidewalk addition to the south side of Anthem Parkway to facilitate a pedestrian connection between the Water Park and the crosswalk at the Ave Maria Elementary School. The Board previously approved a Sidewalk Easement for the location of the sidewalk. The total amount of Change Order #10 is
$72,332.00, which includes drainage relocation (by Jensen Underground) and sidewalk prep and installation, which will bring the total contract price to $11,613,424.45. All pricing is consistent with the current bid. Discussion ensued amongst the Board Members and Commissioner McDaniel regarding sidewalks, trees, and root barrier.

Ms. Holland explained Change Order #5 to O’Donnell Landscapes was a deduction in the amount of
$25,734.24 for the cost of the Bahía sod that was not required to be installed. The new total contract price for O’Donnell, including the deductive Change Order #5, is calculated as follows: $1,062,945.79 minus
$25,734.24 = $1,037,211.50 and this will close out O’Donnell’s contract for Anthem Parkway

A motion was made by Mr. Casalanguida, seconded by Mr. DiFlorio and passed unanimously approving Change Orders in conjunction with the Anthem Parkway Ph 5A Project, as presented.

Consider Approval of Access Agreement with Comcast to Install Fiber Optic Cable in District ROW for Publix
[Recording time 1:19:00 – 1:24:34] Ms. Holland presented this item and displayed the exhibit included on page 70 of the meeting book on the screen. She explained that Comcast contacted District staff in June regarding the installation of fiber optic cable from an existing vault on Colby Street to a tie-point vault on Torino Avenue to provide high speed fiber for Publix Supermarket. Ms. Holland reviewed the location of the proposed fiber and confirmed that Comcast was requesting to install the fiber within the District right-of-way (ROW) across and along Colby Street, along Pope John Paul II Boulevard, and along Torino Avenue. Ms. Holland sent Comcast the District’s Access Agreement, pursuant to Resolution 2024-03, for review and execution prior to authorizing Comcast to install fiber in the District’s ROW. Comcast informed the District Manager that they would not review or execute the District’s Access Agreement. In an effort to keep the project moving, District legal counsel agreed to review Comcast’s Access Agreement. District’s legal counsel provided suggested edits to the Access Agreement, and Comcast’s legal counsel accepted all changes.

Mr. Casalanguida asked if Comcast would pay for any damages, and Ms. Holland confirmed they would. Mr. Roth asked Ms. Willson if she was comfortable with the agreement. Ms. Willson confirmed she was and she reviewed the terms of the agreement. Mr. Klucik asked if the same Comcast service was provided in other areas in Ave Maria. Ms. Holland confirmed it was, but not in the location desired by Comcast. Discussion ensued between the Board and Ms. Holland regarding the request for the fiber installation, cost of service, etc.

A motion was made by Mr. Casalanguida, seconded by Mr. DiFlorio and passed unanimously approving an Access Agreement with Comcast to Install Fiber Optic Cable in District ROW for Publix, as presented.

Consider Authorizing Staff to Update Golf Cart Ordinance

[Recording time: 1:24:35 – 1:34:45] Ms. Holland presented this item. She explained that the last amendment to the District’s Golf Cart Ordinance was approved by Collier County in May of 2016, a copy of the current Ordinance was included in the meeting book. The District has identified additional roadways where a multi-use path suitable for safe operation of golf carts has been (i.e., Peek Way) or may be constructed for golf cart usage adjacent to the roadway. The map on page 76 of the meeting book identifies the roads with pathways currently designated for golf cart usage in green, and the roads that potentially would be added to the Ordinance to allow golf cart usage on acceptable pathways, rather than driving on the roadway, in red. District staff requests the Board’s authorization to update the District’s Golf Cart Ordinance. Discussion ensued regarding areas within Ave Maria where the multi-use pathway exists, but golf carts cannot be directed to drive on them because they are not included in the current Ordinance.

Ms. Holland explained that this was a process that would take time and require approval from the Collier County Board of County Commissioners. She explained that staff needed to determine the extent of the updates necessary, determine costs related to the update, including updates to the Golf Cart Handbook, and would create a timeline with milestones, and provide updates to the Board. She noted that staff reached out to Collier County to confirm the requirements for updating the ordinance, verifying whether a traffic study would be required. Mr. Klucik requested staff also review the intersection of Ave Maria Boulevard and Milano Street, as the signage was confusing and golf carts use the sidewalk often. Mr. Genson added that the land plan had changed over time and several updates were required, regardless of the fact that some of the roads in Ave Maria were private. Mr. McDaniel suggested to update the County’s Ordinance to delegate authority in favor of Ave Maria, but Ms. Willson confirmed that the District could not exercise delegated authorities outside the scope of the District’s special powers.

A motion was made by Mr. Casalanguida, seconded by Mr. DiFlorio and passed unanimously directing staff to update the District’s Golf Cart Ordinance, as presented.
ADMINISTRATIVE MATTERS
Legal Report

Ms. Willson had nothing further to report.

Engineer Report
Mr. Tryka had nothing further to report.
Manager’s Report
a. Financials
[Recording time: 1:35:07– 1:35:49] Ms. Holland indicated that the financials through May 2026 were included in the meeting book and that we were still tracking well so far. She noted that the next meeting was the Final Budget Hearing on August 4, 2026, at 6 p.m. at Grand Hall at Del Webb.

FINAL PUBLIC COMMENTS

[Recording time: 1:36:07– 1:38:20] John Turner, a resident of Ave Maria, spoke regarding the light and sound pollution in Del Webb caused by Arthrex. He explained that new residents would be further affected and recommended screening or blocking the lights. He also addressed the design/construction management item discussed earlier today.

BOARD MEMBER COMMENTS

[Recording time: 1:38:21 – 1:40:35]
Mr. Klucik expressed gratitude for being a pioneer in Ave Maria and wished everyone a Happy 250th Anniversary of America.

Mr. Casalanguida asked for a ten second moment of silence for Team USA’s loss [soccer] as we celebrate the 250th Birthday of America.

Mr. DiFlorio seconded what Mr. Klucik said and stated that he was proud to live here. He also stated that he was happy Ms. Priddy attended District meetings. Mr. Roth thanked the residents for attending and reiterated that participation was key

Commissioner McDaniel reminded the Board that the next Civic Association meeting was scheduled for Thursday at 6 pm.

ADJOURNMENT

There being no further business to come before the Board, the Regular Board Meeting was adjourned at 5:42 p.m. There were no objections.

Secretary/Assistant Secretary	Chair/Vice-Chairman

Clerk of the Circuit Court and Comptroller - Crystal K. Kinzel
Collier County, Florida
3315 Tamiami Trail East, Ste. 102 - Naples, FL 34112-5324 Phone: (239) 252-2646

Affidavit of Publication
COLLIER COUN'IY STATE OF FLORIDA

Before the undersigned authority personally appeared Stephanie Martinez-Gonzalez, who on oath says that he or she is a
Deputy Clerk of the Circuit Court of Collier County, Florida; that the attached copy of advertisement, AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
(AUGUST 4, 2026) NOTICE OF PUBLIC HEARING TO CONSIDER THE ADOPTION OF THE FY 2026/2027 BUDGET; NOTICE OF PUBLIC HEARING TO CONSIDER THE IMPOSITION OF OPERATIONS AND MAINTENANCE SPECIAL ASSESSMENTS, ADOPTION OF AN ASSESSMENT ROLL, AND THE LEVY, COLLECTION, AND ENFORCEMENT OF THE SAME; AND NOTICE OF REGULAR BOARD OF SUPERVISORS'
MEETING was published on the publicly accessible website https://notices.collierclerk.com as designated by Collier County, Florida on 07/15/2026 until 07/22/2026.

-

Affiant further says that the website complies with all legal requirements for publication in chapter 50, Florida Statutes.

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(Deputy Clerk Printed Name)	Da

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT (AUGUST 4, 2026)

NOTICE OF PUBLIC HEARING TO CONSIDER THE ADOPTION OF THE FY 2026/2027 BUDGET; NOTICE OF PUBLIC HEARING TO CONSIDER THE IMPOSITION OF OPERATIONS AND MAINTENANCE SPECIAL ASSESSMENTS, ADOPTION OF AN ASSESSMENT ROLL, AND THE LEVY, COLLECTION, AND ENFORCEMENT OF THE SAME; AND NOTICE OF REGULAR BOARD OF SUPERVISORS' MEETING.

The Board of Supervisors ("Board") for the Ave Maria Stewardship Community District ("District")
will hold the following public hearings and regular meeting:

DATE: TIME: LOCATION:

August 4, 2026
6:00 P.M.
Grand Hall at Del Webb 6008 Del Webb Way
Ave Maria, Florida 34142

The first public hearing is being held pursuant to Chapter 2004-461, laws of Florida, to receive public comment and objections on the District's proposed budget ("Proposed Budget") for the fiscal year beginning October 1, 2026, and ending September 30, 2027 ("FY 2026/2027"). The second public hearing is being held pursuant to Chapter 2004-461, Laws of Florida, to consider the imposition of operations and maintenance special assessments ("O&M Assessments") upon the lands located within the District to fund the Proposed Budget for FY 2026/2027; to consider the adoption of an assessment roll; and to provide for the levy, collection, and enforcement of O&M Assessments. At the conclusion of the public hearings, the Board will, by resolution, adopt a budget and levy O&M Assessments as finally approved by the Board. A regular Board meeting of the District will also be held where the Board may consider any other District business that may properly come before it.

Description of Assessments
The District imposes O&M Assessments on benefitted property within the District for the purpose of funding the District's general administrative, operations, and maintenance budget. A description of the services to be funded by the O&M Assessments, and the properties to be improved and benefitted from the O&M Assessments, are all set forth in the Proposed Budget. A geographic depiction of the property potentially subject to the proposed O&M Assessments is identified in the map attached hereto. The table below shows the schedule of the proposed O&M Assessments, which are subject to change at the hearing:

Land Use	Total# of Units Platted	Per	Unit Type	Proposed Fiscal Year 2026/2027  Annual
O&M	Assessment	(Including Collection Costs/Early Payment Discounts)	
Multi Family/ Attached	1,136	Unit	$984.20	
Single Family/ Detached	5,023	Unit	$984.20	
ALF Apartments	0	Unit	$105.41	
Apartments	0	Unit	$283.89	
MB Low Affordable Housing	48	Unit	$200.82	
Goods and Services	219,138	Sq. Ft.	$0.47	
Mini	Warehouse	(Self
Storage)	50,353	Sq. Ft.	$0.14	

Light Manufacturing	417,048	Sq. Ft.	$0.93	
Hotel	0	Room	$500.34	
Institutional	-	AM University	1,359	Student	$52.10	
Private K-12 School	582	Student	$129.41	

NOTE: THE DISTRICT RESERVES ALL RIGHTS TO CHANGE THE LAND USES, NUMBER OF UNITS, EQUIVALENT ASSESSMENT OR RESIDENTIAL UNIT ("EAU/ERU") FACTORS, AND O&M ASSESSMENT AMOUNTS AT THE PUBLIC HEARING, WITHOUT FURTHER NOTICE.

The proposed O&M Assessments as stated include collection costs and/or early payment discounts imposed on assessments collected by the Collier County ("County") Tax Collector on the tax bill. Moreover, pursuant to Section 197.3632(4 ), Florida Statutes, the lien amount shall serve as the "maximum rate" authorized by law for O&M Assessments, such that no public hearing on O&M Assessments shall be held or notice provided in future years unless the O&M Assessments are proposed to be increased or another criterion within Section 197.3632(4), Florida Statutes, is met. Note, the O&M Assessments do not include debt service assessments previously levied by the District, if any.

For FY 2026/2027, the District intends to have the County Tax Collector collect the O&M Assessments imposed on certain developed property and will directly collect the O&M Assessments on the remaining benefitted property, if any, by sending out a bill no later than November of this year. It is important to pay your O&M Assessment because failure to pay will cause a tax certificate to be issued against the property which may result in loss of title or, for direct billed O&M Assessments, may result in a foreclosure action which also may result in a loss of title. The District's decision to collect O&M Assessments on the County tax roll or by direct billing does not preclude the District from later electing to collect those or other assessments in a different manner at a future time.

Additional Provisions
The public hearings and meeting are open to the public and will be conducted in accordance with the provisions of Florida law. A copy of the Proposed Budget, proposed assessment roll, and the agenda for the public hearings and meeting may be obtained at the offices of the District Manager, Special District Services, Inc., 2501A Burns Road, Palm Beach Gardens, Florida 33410, Phone (561) 630-4922 ("District Manager's Office"), during normal business hours, or by visiting the District's website at https://avemariastewardshipcd.org/. The public hearings and meeting may be continued in progress to a date, time certain, and place to be specified on the record at the public hearings or meeting. There may be occasions when staff or board members may participate remotely via audio and/or visual technology.

Any person requiring special accommodations at the public hearings or meeting because of a disability or physical impairment should contact the District Manager's Office at least forty-eight (48) hours prior to the public hearings and 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 Manager's Office.

Please note that all affected property owners have the right to appear at the public hearings and meeting and may also file written objections with the District Manager's Office within twenty days of publication of this notice. Each person who decides to appeal any decision made by the Board with respect to any matter considered at the public hearings or 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.

Allyson Holland District Manager

AVE MAMA tTIWARDSHIP,

COMMUNITY DISTRICT

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AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

www.avemariastewardshipcd.org

PUBLISH: COLLIER COUNTY WEBSITE	MIDNIGHT ON WED., 07/15/26 UNTIL MIDNITE ON WED., 07/22/26

Please reply to:
P.O. Box 3542
St. Petersburg, FL 33731-3542 Direct Line: (727) 820-3963 jdivito@trenam.com

July 29, 2026

VIA EMAIL: aholland@sdsinc.org Allyson Holland, P.E.
District Manager
Ave Maria Stewardship Community District Special District Services, Inc.

RE:	Parcel No. 22671002305
Ave Maria Catholic Academy Dear Ms. Holland:
Please be advised that I serve as General Counsel for the Diocese of Venice in Florida, Inc., and its parishes, schools, and other entities. I am writing with regard to the above matter to voice a strong objection to the proposed assessment as it pertains to Parcel No. 22671002305, Collier County Property Appraiser records. On this parcel is Ave Maria Catholic Academy, which was previously Donahue Academy. It is critical to understand that Ave Maria Catholic Academy is a fictitious name of Ave Maria Parish, Inc., as listed on SunzBiz. The Parish purchased Donahue Academy several years ago, and the Parish owns and operates the school.

It is noted that Ave Maria Parish, Inc. is exempt from the assessment. The church and the school are one and the school parcel should be exempt.

My client further strongly objects to the assessment attaching to the school parcel for these additional reasons:

Public schools within the Ave Maria Stewardship Community District are exempt, and doing so, discriminates against the catholic school owned and operated by Ave Maria Parish, Inc.

It seems reasonable to exempt schools from the assessment, as the parents of the children attending those schools are already paying property taxes, which support the operations of the community district. Parents of students attending this catholic school also pay those same taxes, that it would seem equitable that the exemption should apply to the catholic school parcel.

TAMPA
TEL: (813) 223-7474
101 E. KENNEDY BOULEVARD, STE. 2700
TAMPA, FLORIDA 33602

ST. PETERSBURG
TEL: (727) 898-7474
200 CENTRAL AVENUE, STE 1600 ST. PETERSBURG, FLORIDA 33701

WWW.TRENAM.COM

SARASOTA
TEL: (941) 278-4301
1515 RINGLING BOULEVARD, STE 320
SARASOTA, FLORDA 34236

Page2

Ave Maria Parish, Inc. is a 501(c)(3) religious school, which would be eligible for property tax exemption, for which the purposes of this assessment fulfill.

Finally, as a religious charitable organization, having a $62,000.00 assessment creates a significant hardship to the school, and will replace dollars that would otherwise be spent for educational purposes.

I strongly urge that this school parcel be exempt from the assessment for the reasons stated
above.

JAD/mbs

Very truly yours,
EDi'!�

RESOLUTION 2026-17
[FY 2026/2027 APPROPRIATION RESOLUTION]

THE ANNUAL APPROPRIATION RESOLUTION OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT (“DISTRICT”) RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGET(S) FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2026, AND ENDING SEPTEMBER 30, 2027; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, for the fiscal year beginning October 1, 2026, and ending September 30, 2027 (“FY 2026/2027”), the District Manager prepared and submitted to the Board of Supervisors (“Board”) of the Ave Maria Stewardship Community District (“District”) prior to June 15, 2026, proposed budget(s) (“Proposed Budget”) along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Chapter 2004-461(4)(6)(b), Laws of Florida; and

WHEREAS, at least sixty (60) days prior to the adoption of the Proposed Budget, the District filed a copy of the Proposed Budget with the local general-purpose government(s) having jurisdiction over the area included in the District pursuant to the provisions of Chapter 2004-461(4)(6)(b), Laws of Florida; and

WHEREAS, the Board set a public hearing on the Proposed Budget and caused notice of such public hearing to be given by publication; and
WHEREAS, the District Manager posted the Proposed Budget on the District’s website at least two days before the public hearing; and

WHEREAS, Chapter 2004-461(4)(6)(b), Laws of Florida, requires that, prior to October 1st of each year, the Board, by passage of the Annual Appropriation Resolution, shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT:
SECTION 1.   BUDGET

The Proposed Budget, attached hereto as Exhibit A, as amended by the Board, is hereby adopted in accordance with the provisions of Chapter 2004-461(4)(6)(b), Laws of Florida (“Adopted Budget”), and incorporated herein by reference; provided, however, that the comparative figures contained in the Adopted Budget may be subsequently revised as deemed necessary by the District Manager to reflect actual revenues and expenditures.
The Adopted Budget, as amended, shall be maintained in the office of the District Manager and at the District’s Local Records Office and identified as “The Budget for the Ave Maria Stewardship Community District for the Fiscal Year Ending September 30, 2027.”

1

The Adopted Budget shall be posted by the District Manager on the District’s official website within thirty (30) days after adoption, and shall remain on the website for at least two (2) years.

SECTION 2.	APPROPRIATIONS

There is hereby appropriated out of the revenues of the District, for FY 2026/2027, the sum(s) set forth in Exhibit A to be raised by the levy of assessments and/or otherwise, which sum is deemed by the Board to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated as set forth in Exhibit A.

SECTION 3.	BUDGET AMENDMENTS
Pursuant to Section 189.016, Florida Statutes, the District at any time within FY 2026/2027 or within 60 days following the end of the FY 2026/2027 may amend its Adopted Budget for that fiscal year as follows:

A line-item appropriation for expenditures within a fund may be decreased or increased by motion of the Board recorded in the minutes, and approving the expenditure, if the total appropriations of the fund do not increase.

The District Manager or Treasurer may approve an expenditure that would increase or decrease a line-item appropriation for expenditures within a fund if the total appropriations of the fund do not increase and if either (i) the aggregate change in the original appropriation item does not exceed the greater of $15,000 or 15% of the original appropriation, or (ii) such expenditure is authorized by separate disbursement or spending resolution.
Any other budget amendments shall be adopted by resolution and consistent with Florida law. The District Manager or Treasurer must ensure that any amendments to the budget under this paragraph c. are posted on the District’s website in accordance with Section 189.016, Florida Statutes, and remain on the website for at least two (2) years.

SECTION 4.	APPROVAL OF PRIOR ACTIONS.

The actions of the Chairman, Vice Chairman, Secretary, Treasurer, Assistant Secretaries, and all District Staff in finalizing the Adopted Budget, including preparing the Proposed Budget and setting, noticing, and all other actions required for the public hearing on the Proposed Budget, are hereby ratified, approved, and confirmed in all respects.
SECTION 5.	SEVERABILITY; EFFECTIVE DATE.
The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof. This Resolution shall take effect immediately upon adoption.

2

PASSED AND ADOPTED THIS 4TH DAY OF AUGUST, 2026.
ATTEST:	AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

Secretary / Assistant Secretary	Chair / Vice Chair, Board of Supervisors

Exhibit A:	FY 2026/2027 Budget

3

Exhibit A
FY 2026/2027 Budget

Ave Maria Stewardship Community District

Final Budget For Fiscal Year 2026/2027
October 1, 2026 - September 30, 2027

AMSCD Final Budget FY 26-27 - 8/04/26

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FISCAL YEAR 2026/2027 BUDGET
TABLE OF CONTENTS

Budget Summary
FINAL Budget Summary Charts	3
Detailed FINAL Budget	4
Detailed Budgets with Previous Year Comparisions
Detailed FINAL Budget with Comparisons	5
Detailed FINAL Maintenance Budget with Comparisons	6
Detailed FINAL Reserve Budget with Comparisons	7
Debt Service
Detailed FINAL Series 2019 (refi of 2006) Debt Service Fund Budget	8
Detailed FINAL Series 2022 (refi of 2012) Debt Service Fund Budget	9
Detailed FINAL Series 2021 (Master) Debt Service Fund Budget	10
Detailed FINAL Series 2023 (Master) Debt Service Fund Budget	11
Detailed FINAL Series 2025 (Master) Debt Service Fund Budget	12
Detailed FINAL Series 2015 (Maple Ridge) Debt Service Fund Budget	13
Detailed FINAL Series 2016 (Maple Ridge) Debt Service Fund Budget	14
Detailed FINAL Series 2018 (Maple Ridge) Debt Service Fund Budget	15
Detailed FINAL Series 2020 (Maple Ridge) Debt Service Fund Budget	16
Detailed FINAL Series 2022 (Maple Ridge) Debt Service Fund Budget	17
Detailed FINAL Series 2025 (Maple Ridge) Debt Service Fund Budget	18
Detailed FINAL Series 2021 (Ave Maria National) Debt Service Fund Budget	19
Assessments Detail
Assessment Breakdown	20
Assessment Comparison	21

11%

On-Roll Assessments

89%

Developer Contributions and Off-Roll Debt Assessments

FINAL BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

Sources	Revenue	Percentage	
On-Roll Assessments	$	15,008,587	89%	
Developer Contributions and Off-Roll Debt Assessments	$	1,933,788	11%	
Other / Reserve Draw	$	1,000	0%	
Total Revenue	$	16,943,375	100%	

Sources	Expenditures	Percentage	
Administrative	$	1,090,157	6%	
Maintenance	$	4,667,935	27%	
Reserve	$	1,115,000	7%	
Debt Payments	$	9,005,464	53%	
Discounts & Fees	$	1,125,644	7%	
Total Expenditures	$	17,004,200	100%	

6%

7%

Administrative

27%

Maintenance

Reserve

7%

53%

Debt Payments

Discounts & Fees

DETAILED BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

REVENUES	FISCAL YEAR 2026/2027 BUDGET	
O & M ASSESSMENTS *	6,057,512	
RESERVE ASSESSMENTS *	1,139,108	
DEBT ASSESSMENTS *	7,811,967	
DEVELOPER CONTRIBUTION FOR O & M	154,393	
DEVELOPER OFF-ROLL ASSESSMENTS FOR DEBT	1,779,395	
OTHER REVENUES - OPERATING / FEMA	0	
OTHER REVENUES - RESERVE DRAW	0	
INTEREST - OPERATING	500	
INTEREST - RESERVE	500	
BOND PREPAYMENTS	0	
BOND PREPAYMENTS PAID TO TRUSTEE	0	
		
TOTAL REVENUES	$	16,943,375	
		
EXPENDITURES		
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISORS FEES	9,600	
PAYROLL TAX EXPENSE	734	
DISTRICT ENGINEERING	120,000	
MANAGEMENT	377,423	
LEGAL	100,000	
LEGISLATION CHANGES	175,000	
ASSESSMENT ROLL	25,000	
AUDIT FEES	20,000	
ARBITRAGE REBATE FEE	6,000	
TRAVEL & LODGING	10,000	
INSURANCE	135,000	
LEGAL ADVERTISING	8,000	
MISCELLANEOUS	10,000	
POSTAGE	3,000	
OFFICE SUPPLIES	3,500	
RENTS & LEASES	14,400	
DUES, LICENSE, & SUBSCRIPTIONS	500	
MISCELLANEOUS FILINGS, NOTICES, ETC.	500	
WEBSITE HOSTING FEES	2,500	
TRUSTEE FEES	55,000	
CONTINUING DISCLOSURE FEE	14,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	1,090,157	
		
MAINTENANCE EXPENDITURES		
MAINTENANCE	4,667,935	
		
RESERVE ACTIVITY		
RESERVE EXPENSE	1,115,000	
NET CHANGE TO RESERVE BALANCE	-60,825	
		
TOTAL EXPENDITURES	$	6,812,267	
		
EXCESS OR (SHORTFALL)	10,131,108	
		
BOND PAYMENTS	(9,005,464)	
		
BALANCE	$	1,125,644	
		
COUNTY APPRAISER & TAX COLLECTOR COST	(525,301)	
DISCOUNTS FOR EARLY PAYMENTS	(600,343)	
		
NET EXCESS / (SHORTFALL)	$	-	

DETAILED BUDGET COMPARISON
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

	

REVENUES	
FISCAL YEAR 2024/2025 ACTUAL	
FISCAL YEAR 2025/2026 BUDGET	
FISCAL YEAR 2026/2027 BUDGET	

COMMENTS or
YEAR OVER YEAR CHANGE	
R-001	O & M ASSESSMENTS *	3,673,847	4,795,091	6,057,512	Detail on Page 20	
R-002	RESERVE ASSESSMENTS *	27,500	955,930	1,139,108	Detail on Page 20	
R-003	DEBT ASSESSMENTS *	6,565,911	7,148,845	7,811,967	Detail on Page 20	
R-004	DEVELOPER CONTRIBUTION FOR O & M	904,951	845,525	154,393		
R-005	DEVELOPER OFF-ROLL ASSESSMENTS FOR DEBT	710,183	252,832	1,779,395		
R-006	OTHER REVENUES - OPERATING / FEMA	51,063	0	0		
R-007	OTHER REVENUES - RESERVE DRAW	0	0	0		
R-008	INTEREST - OPERATING	58,504	500	500		
R-009	INTEREST - RESERVE	13,489	0	500		
R-010	BOND PREPAYMENTS	26,484	0	0		
R-011	BOND PREPAYMENTS PAID TO TRUSTEE	(26,484)	0	0		
						
	TOTAL REVENUES	$	12,005,449	$	13,998,723	$	16,943,375		
						
	EXPENDITURES					
						
	ADMINISTRATIVE EXPENDITURES					
A-001	SUPERVISORS FEES	6,400	9,600	9,600	0	
A-002	PAYROLL TAX EXPENSE	490	734	734	Supervisor Fees * 7.65%	
A-003	DISTRICT ENGINEERING	79,987	110,000	120,000	10,000	
A-004	MANAGEMENT	350,000	367,500	377,423	9,923	
A-005	LEGAL	92,816	100,000	100,000	0	
A-006	LEGISLATION CHANGES	0	0	175,000	175,000	
A-007	ASSESSMENT ROLL	25,000	25,000	25,000	0	
A-008	AUDIT FEES	18,300	18,600	20,000	1,400	
A-009	ARBITRAGE REBATE FEE	4,550	5,550	6,000	450	
A-010	TRAVEL & LODGING	8,458	10,000	10,000	0	
A-011	INSURANCE	105,369	120,000	135,000	15,000	
A-012	LEGAL ADVERTISING	16,139	8,000	8,000	0	
A-013	MISCELLANEOUS	65,769	10,000	10,000	0	
A-014	POSTAGE	4,459	3,000	3,000	0	
A-015	OFFICE SUPPLIES	6,762	3,500	3,500	0	
A-016	RENTS & LEASES	935	14,400	14,400	0	
A-017	DUES, LICENSE, & SUBSCRIPTIONS	175	500	500	0	
A-018	MISCELLANEOUS FILINGS, NOTICES, ETC.	2,500	500	500	0	
A-019	WEBSITE HOSTING FEES	2,500	2,500	2,500	0	
A-020	TRUSTEE FEES	47,444	50,000	55,000	5,000	
A-021	CONTINUING DISCLOSURE FEE	10,000	12,000	14,000	2,000	
	TOTAL ADMINISTRATIVE EXPENDITURES	$	848,054	$	871,384	$	1,090,157		
						
	MAINTENANCE EXPENDITURES					
M-001	MAINTENANCE	3,605,417	4,410,100	4,667,935	Total Maintenance - Detail On Pg 6	
						
	RESERVE ACTIVITY					
R-001	RESERVE EXPENSE	0	350,000	1,115,000	Total Reserve - Detail On Pg 7	
R-002	NET CHANGE TO RESERVE BALANCE	40,989	534,235	(60,825)	Total Reserve - Detail On Pg 7	
						
	TOTAL EXPENDITURES	$	4,453,470	$	6,165,719	$	6,812,267		
						
	EXCESS OR (SHORTFALL)	$	7,551,979	$	7,833,004	$	10,131,108		
						
D-001	BOND PAYMENTS	(6,903,346)	$	(6,865,514)	$	(9,005,464)	2026 P & I Payments	
						
	BALANCE	$	648,633	$	967,490	$	1,125,644		
						
A-022	COUNTY APPRAISER & TAX COLLECTOR COST	(174,301)	(451,495)	(525,301)	3.5% Of Total Assessment Roll	
A-023	DISCOUNTS FOR EARLY PAYMENTS	(384,917)	(515,995)	(600,343)	4% Of Total Assessment Roll	
						
	NET EXCESS / (SHORTFALL)	$	89,415	$	-	$	-		
* Total Estimated Developer/Builder On Roll Assessment in current year O&M = $803,586	Res = $161,181	Debt = $1,211,316

DETAILED MAINTENANCE BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

		FISCAL YEAR 2024/2025
ACTUAL	FISCAL YEAR 2025/2026
BUDGET	FISCAL YEAR 2026/2027
BUDGET	
	MAINTENANCE EXPENDITURES				
	LANDSCAPE & IRRIGATION				

M-001	
LANDSCAPE & IRRIGATION MAINTENANCE CONTRACT	
791,580	
1,050,000	
1,200,000	
M-002	PLANT REPLACEMENT	225,589	200,000	200,000	
M-003	MULCH & PINESTRAW (INCLUDING BED PREP)	146,529	175,000	190,000	
M-004	TREE TRIMMING	118,314	80,000	125,000	
M-005	IRRIGATION REPAIR	273,311	215,000	300,000	
M-006	ANNUAL FLOWERS (INCLUDING BED PREP)		80,000	110,000	
M-007	MISCELLANEOUS LANDSCAPING	5,765	50,000	50,000	
	STREET LIGHTS & ELECTRICITY				

M-008	
ELECTRICITY (STREET LIGHTS & IRRIGATION CLOCKS)	
122,833	
150,000	
165,000	
M-009	STREET LIGHT MAINTENANCE	145,359	140,000	150,000	
	ROADWAYS, SIDEWALK, STRIPING, SIGNAGE				
M-010	SIDEWALK/CURB/PAVER REPAIRS	78,003	100,000	20,000	
M-011	ASPHALT REPAIRS (ROADWAYS/PATHWAYS)		75,000	20,000	
M-012	STRIPING & TRAFFIC MARKINGS	230,593	50,000	15,000	

M-013	STREET SIGNS (INCLUDING CROSSWALK FLASHING LIGHTS)	
26,588	
35,000	
15,000	
M-014	STREET SWEEPING	14,500	36,000	37,080	
	STORMWATER DRAINAGE, LAKES, PRESERVES				
M-015	STORMWATER DRAINAGE REPAIRS	0	50,000	5,000	
M-016	STORM DRAIN CLEANING	33,373	50,000	30,000	

M-017	LAKE MAINTENANCE (INCLUDING LITTORALS & LAKE BANKS)	
114,344	
80,000	
120,000	
M-018	LAKE BANK REPAIRS	0	0	100,000	
M-019	MISC. EXOTICS REMOVAL	0	0	50,000	
M-020	CANAL MAINTENANCE	0	0	20,000	
M-021	PRESERVE MAINTENANCE	78,936	115,000	125,000	
	MISCELLANEOUS MAINTENANCE/OPERATIONS				
M-022	PRESSURE WASHING	65,442	65,000	100,000	
M-023	FOUNTAIN MAINTENANCE/REPAIR	30,218	50,000	0	
M-024	FOUNTAIN REMOVAL (INCLUDING PUMPS)	0	0	20,000	
M-025	DOG WASTE STATIONS & TRASH CANS		6,000	3,500	
M-026	SMALL TOOLS	3,421	5,000	5,000	
M-027	VEHICLE FUEL/MAINTENANCE	9,919	10,000	15,000	
M-028	RODENT / PEST CONTROL (BEES, ANTS, RATS)	19,800	20,000	20,000	
M-029	MISC. MAINTENANCE & REPAIRS	96,207	55,000	25,000	

M-030	CHRISTMAS LIGHTS (INCLUDING ELECTRICAL
MAINTENANCE)	
11,750	
23,500	
30,000	
	PROFESSIONAL SERVICES AND CIP PROJECTS				
M-031	ASSET MANAGEMENT SUPPORT & SOFTWARE	215,604	140,000	100,000	

M-032	PROFESSIONAL SERVICES (ENGINEERING/CONSULTING)	
160	
70,000	
50,000	
M-033	SECURITY CAMERAS PH 3	159,848	250,000	200,000	
M-034	ENHANCED SECURITY	0	0	15,000	

M-035	
ROUNDABOUT UPLIGHTING PROJECT		
76,000	
75,000	
M-036	CROSSWALK ENHANCEMENTS		100,000	100,000	
M-037	STREETLIGHT NUMBERING		10,000	0	
M-038	STREETLIGHT REFURBISHMENT		0	25,000	
	UTILITIES AND RENT				
M-039	POTABLE IRRIGATION WATER (AMUC)	8,964	9,400	5,000	
M-040	IRRIGATION SPRINKLER WATER (AMUC)	96,005	140,000	155,000	

M-041	
ADMINISTRATION OFFICE RENT & OFFICE SUPPLIES	
2,100	
9,600	
12,000	
M-042	OFFICE RENT & SUPPLIES		26,000	35,000	
M-043	CABLE/PHONE/MODEMS	2,110	10,000	15,000	
M-044	BASE MANAGEMENT FEE (FSR)	23,040	6,000	6,000	
	STORM PREPAREDNESS				
M-045	STORM CLEANUP & REPAIRS	15,213	112,500	100,000	
	SALARIES & BENEFITS				
M-046	OPERATIONS TEAM SALARIES & BENEFITS	440,001	485,100	509,355	

	TOTAL MAINTENANCE EXPENDITURES	$	3,605,417	$	4,410,100	$	4,667,935	

DETAILED RESERVE BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

		FISCAL YEAR
2024/2025
ACTUAL	FISCAL YEAR
2025/2026
BUDGET	FISCAL YEAR
2026/2027
BUDGET	
					
	BEGINNING BALANCE	$	297,147	$	338,136	$	872,371	
	REVENUES				
					
RR-001	NET RESERVE ASSESSMENTS	27,500	884,235	1,053,675	
RR-002	OTHER REVENUES	0	0	0	
RR-003	INTEREST	13,489	0	500	
					
	TOTAL REVENUES	40,989	884,235	1,054,175	

EXPENDITURES				
					
Re-001	Irrigation Replacement (including electrical)	0
0
0	350,000
0
0	0
0
0	
					
Re-002	Asphalt Pathway Repairs	0	0	175,000	
Re-003	Catch Basin Repairs	0	0	150,000	
Re-004	Curb Repairs	0	0	120,000	
Re-005	Sidewalk Repairs	0	0	110,000	
Re-006	Irrigation System Repairs/Replacement	0	0	360,000	
Re-007	Signage Replacement	0	0	200,000	
		0	0	0	
		0	0	0	
		0	0	0	
		0	0		
		0	0	0	
	TOTAL EXPENDITURES	0	350,000	1,115,000	
					
	EXCESS OR (SHORTFALL)	40,989	534,235	(60,825)	
					
	ENDING BALANCE	$	338,136	$	872,371	$	811,546	

DETAILED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2019

REVENUES	FISCAL YEAR 2024/2025
ACTUAL	FISCAL YEAR 2025/2026
BUDGET	FISCAL YEAR 2026/2027
BUDGET	
Interest Income (19) (refi of 06)	51,468	500	500	
Net NAV Collection (19) (refi of 06)	1,393,374	1,368,371	1,368,371	
Developer Contribution (refi of 06)	0	0	0	
Prepaid Bonds (19) (refi of 06)	0	0	0	
Bond Proceeds	0	0	0	
				
Total Revenues	$	1,444,842	$	1,368,871	$	1,368,871	
				
EXPENDITURES				
Principal Payments (19) (refi of 06)	955,000	975,000	975,000	
Extraordinary Principal Pymt (19) (refi of 06)	0	2,865	2,865	
Interest Payments (19) (refi of 06)	419,856	391,006	391,006	
Cost of Issuance	0			
				
Total Expenditures	$	1,374,856	$	1,368,871	$	1,368,871	
				
Net Excess/ (Shortfall)	$	69,985	$	-	$	-	

Series 2019 Bond Information (Refi of 2006)		
Original Par Amount =	$20,310,000	Annual Principal Payments Due:	
Average Interest Rate =	2.725%	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		

DETAILED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2022

REVENUES	FISCAL YEAR 2024/2025
ACTUAL	FISCAL YEAR 2025/2026
BUDGET	FISCAL YEAR 2026/2027
BUDGET	
Interest Income (22) (refi of 12)	79,384	100	100	
Net NAV Collection (22) (refi of 12)	1,676,596	1,643,963	1,643,963	
Developer Contribution (22) (refi of 12)	0	0	0	
Prepaid Bonds (22) (refi of 12)	0	0	0	
				
Total Revenues	$	1,755,980	$	1,644,063	$	1,644,063	
				
EXPENDITURES				
Principal Payments (22) (refi of 12)	870,000	895,000	895,000	
Extraordinary Principal Pymt (22) (refi of 12)	0	3,847	3,847	
Interest Payments (22) (refi of 12)	783,094	745,216	745,216	
				
Total Expenditures	$	1,653,094	$	1,644,063	$	1,644,063	
				
Net Excess/ (Shortfall)	$	102,886	$	-	$	-	

Series 2022 Bond Information (Refi of 2012)
Original Par Amount =	$22,950,000	Annual Principal Payments Due:
Average Interest Rate =	3.825%	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

DETAILED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2021 (MASTER)

REVENUES	FISCAL YEAR 2024/2025
ACTUAL	FISCAL YEAR 2025/2026
BUDGET	FISCAL YEAR 2026/2027
BUDGET	
Interest Income (21)	30,223	100	100	
Net NAV Collection (21)	653,048	640,319	640,319	
Developer Contribution (21)	0	0	0	
Capitalized Interest (21)	0	0	0	
				
Total Revenues	$	683,271	$	640,419	$	640,419	
				
EXPENDITURES				
Principal Payments (21)	255,000	260,000	260,000	
Extraordinary Principal Payments (21)	0	1,700	1,700	
Interest Payments (21)	387,381	378,719	378,719	
				
Total Expenditures	$	642,381	$	640,419	$	640,419	
				
Net Excess/ (Shortfall)	$	40,889	$	-	$	-	

Series 2021 Bond Information		
Original Par Amount =	$11,610,000	Annual Principal Payments Due:	
Average Interest Rate =	3.691%	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		

DETAILED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2023 (MASTER)

REVENUES	FISCAL YEAR 2024/2025
ACTUAL	FISCAL YEAR 2025/2026
BUDGET	FISCAL YEAR 2026/2027
BUDGET	
Interest Income (23)	38,204	100	100	
Net NAV Collection (23)	804,058	973,523	1,180,265	
Developer Contribution (23)	465,615	306,727	99,985	
Capitalized Interest (23)	0	0	0	
				
Total Revenues	$	1,307,876	$	1,280,350	$	1,280,350	
				
EXPENDITURES				
Principal Payments (23)	300,000	310,000	310,000	
Extraordinary Principal Payments (23)	0	0	0	
Interest Payments (23)	990,825	970,350	970,350	
Transfer to Construction Fund (23)				
Total Expenditures	$	1,290,825	$	1,280,350	$	1,280,350	
				
Net Excess/ (Shortfall)	$	17,051	$	-	$	-	

Note: Capitalized Interest Was Set-Up Through 11-1-2023

Series 2023 Bond Information		
Original Par Amount =	$19,150,000	Annual Principal Payments Due:	
Average Interest Rate =	5.384%	May 1st	
Issue Date =	8/2023	Annual Interest Payments Due:	
Maturity Date =	5/2053	May 1st & November 1st	
Par Amount As Of 9/30/25 =	$18,565,000		

DETAILED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2025 (MASTER)

REVENUES	FISCAL YEAR 2024/2025
ACTUAL	FISCAL YEAR 2025/2026
BUDGET	FISCAL YEAR 2026/2027
BUDGET	
Interest Income (25)	847	0	0	
Net NAV Collection (25)	0	0	359,640	
Developer Contribution (25)	0	0	1,620,414	
Capitalized Interest (25)	0	0	0	
				
Total Revenues	$	-	$	-	$	1,980,054	
				
EXPENDITURES				
Principal Payments (25)	0	0	440,000	
Extraordinary Principal Payments (25)	0	0	0	
Interest Payments (25)	0	0	1,540,054	
Transfer to Construction Fund (25)	0			
Total Expenditures	$	-	$	-	$	1,980,054	
				
Net Excess/ (Shortfall)	$	-	$	-	$	-	

Note: Capitalized Interest Was Set-Up Through

Series 2025 Bond Information		
Original Par Amount =	$29,255,000	Annual Principal Payments Due:	
Average Interest Rate =	5.473%	May 1st	
Issue Date =	11/12/2025	Annual Interest Payments Due:	
Maturity Date =	5/1/2056	May 1st & November 1st	
Par Amount As Of 9/30/25 =	$29,255,000		

DETAILED DEBT SERVICE BUDGET AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2015 (MAPLE RIDGE)

REVENUES	FISCAL YEAR 2024/2025
ACTUAL	FISCAL YEAR 2025/2026
BUDGET	FISCAL YEAR 2026/2027
BUDGET	
Interest Income (15)	12,494	100	100	
Net NAV Collection (15)	167,109	163,890	163,890	
Developer Contribution (15)	0	0	0	
Prepaid Bonds (15)	0	0	0	
				
Total Revenues	$	179,603	$	163,990	$	163,990	
				
EXPENDITURES				
Principal Payments (15)	55,000	55,000	55,000	
Extraordinary Principal Payments (15)	0	4,565	4,565	
Interest Payments (15)	108,550	104,425	104,425	
				
Total Expenditures	$	163,550	$	163,990	$	163,990	
				
Net Excess/ (Shortfall)	$	16,053	$	-	$	-	

Series 2015 Bond (Maple Ridge) Information		
Original Par Amount =	$2,530,000	Annual Principal Payments Due:	
Interest Rate =	5.0% - 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		

DETAILED DEBT SERVICE BUDGET AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2016 (MAPLE RIDGE)

REVENUES	FISCAL YEAR 2024/2025
ACTUAL	FISCAL YEAR 2025/2026
BUDGET	FISCAL YEAR 2026/2027
BUDGET	
Interest Income (16)	12,537	100	100	
Net NAV Collection (16)	231,165	226,663	226,663	
Developer Contribution (16)	0	0	0	
Prepaid Bonds (16)	0	0	0	
				
Total Revenues	$	243,702	$	226,763	$	226,763	
				
EXPENDITURES				
Principal Payments (16)	70,000	75,000	75,000	
Extraordinary Principal Payments (16)	0	169	169	
Interest Payments (16)	157,238	151,594	151,594	
	.			
Total Expenditures	$	227,238	$	226,763	$	226,763	
				
Net Excess/ (Shortfall)	$	16,465	$	-	$	-	

Series 2016 Bond (Maple Ridge) Information		
Original Par Amount =	$3,390,000	Annual Principal Payments Due:	
Interest Rate =	5.250%	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		

DETAILED DEBT SERVICE BUDGET AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2018 (MAPLE RIDGE)

REVENUES	FISCAL YEAR 2024/2025
ACTUAL	FISCAL YEAR 2025/2026
BUDGET	FISCAL YEAR 2026/2027
BUDGET	
Interest Income (18)	12,662	100	100	
Net NAV Collection (18)	258,742	253,748	253,748	
Developer Contribution (18)	0	0	0	
Prepaid Bonds (18)	0	0	0	
				
Total Revenues	$	271,404	$	253,848	$	253,848	
				
EXPENDITURES				
Principal Payments (18)	70,000	70,000	70,000	
Extraordinary Principal Payments (18)	0	5,413	5,413	
Interest Payments (18)	183,580	178,435	178,435	
				
Total Expenditures	$	253,580	$	253,848	$	253,848	
				
Net Excess/ (Shortfall)	$	17,824	$	-	$	-	

Series 2018 Bond (Maple Ridge) 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		

DETAILED DEBT SERVICE BUDGET AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2020 (MAPLE RIDGE)

REVENUES	FISCAL YEAR 2024/2025
ACTUAL	FISCAL YEAR 2025/2026
BUDGET	FISCAL YEAR 2026/2027
BUDGET	
Interest Income (20)	9,770	100	100	
Net NAV Collection (20)	211,716	207,616	207,616	
Developer Contribution (20)	0	0	0	
Capitalized Interest	0	0	0	
				
Total Revenues	$	221,486	$	207,716	$	207,716	
				
EXPENDITURES				
Principal Payments (20)	65,000	65,000	65,000	
Extraordinary Principal Payments (20)	0	4,129	4,128	
Interest Payments (20)	142,293	138,588	138,588	
				
Total Expenditures	$	207,293	$	207,716	$	207,716	
				
Net Excess/ (Shortfall)	$	14,194	$	-	$	-	

Series 2020 Bond (Maple Ridge) 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		

DETAILED DEBT SERVICE BUDGET AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2022 (MAPLE RIDGE)

REVENUES	FISCAL YEAR 2024/2025
ACTUAL	FISCAL YEAR 2025/2026
BUDGET	FISCAL YEAR 2026/2027
BUDGET	
Interest Income (22)	21,426	100	100	
Net NAV Collection (22)	453,137	444,361	444,361	
Developer Contribution (22)	0	0	0	
Capitalized Interest	0	0	0	
				
Total Revenues	$	474,563	$	444,461	$	444,461	
				
EXPENDITURES				
Principal Payments (22)	155,000	160,000	160,000	
Extraordinary Principal Payments (22)	0	3,516	3,516	
Interest Payments (22)	287,995	280,945	280,945	
				
Total Expenditures	$	442,995	$	444,461	$	444,461	
				
Net Excess/ (Shortfall)	$	31,568	$	-	$	-	

Note: Capitalized Interest Was Set-Up Through November 1, 2022

Series 2022 Bond (Maple Ridge) Information		
Original Par Amount =	$7,775,000	Annual Principal Payments Due:	
Average 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		

DETAILED DEBT SERVICE BUDGET AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2025 (MAPLE RIDGE)

REVENUES	FISCAL YEAR 2024/2025
ACTUAL	FISCAL YEAR 2025/2026
BUDGET	FISCAL YEAR 2026/2027
BUDGET	
Interest Income (25)	847	0	0	
Net NAV Collection (25)	0	120,851	159,896	
Developer Contribution (25)	0	34,554	0	
Capitalized Interest	0	0	0	
				
Total Revenues	$	847	$	155,405	$	159,896	
				
EXPENDITURES				
Principal Payments (25)	0	30,000	30,000	
Extraordinary Principal Payments (25)	0	0	4,491	
Interest Payments (25)	0	125,405	125,405	
				
Total Expenditures	$	-	$	155,405	$	159,896	
				
Net Excess/ (Shortfall)	$	847	$	-	$	-	

Note: Capitalized Interest Was Set-Up Through

Series 2025 Bond (Maple Ridge) Information		
Original Par Amount =	$2,245,000	Annual Principal Payments Due:	
Average Interest Rate =	5.818%	May 1st	
Issue Date =	July 2025	Annual Interest Payments Due:	
Maturity Date =	May 2055	May 1st & November 1st	
Par Amount As Of 9/30/25 =	$2,245,000		

DETAILED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT DEBT SERVICE FUND - SERIES 2021 (AVE MARIA NATIONAL)

REVENUES	FISCAL YEAR 2024/2025
ACTUAL	FISCAL YEAR 2025/2026
BUDGET	FISCAL YEAR 2026/2027
BUDGET	
Interest Income (21)	22,817	0	0	
Net NAV Collection (21)	511,194	612,398	612,398	
Developer Contribution (21)	178,324	22,635	22,635	
Capitalized Interest	0	0	0	
				
Total Revenues	$	712,335	$	635,033	$	635,033	
				
EXPENDITURES				
Principal Payments (21)	240,000	245,000	245,000	
Extraordinary Principal Payments (21)	0	0	0	
Interest Payments (21)	399,458	390,033	390,033	
				
Total Expenditures	$	639,458	$	635,033	$	635,033	
				
Net Excess/ (Shortfall)	$	72,878	$	-	$	-	

Series 2021 Bond (Ave Maria National) 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		

Ave Maria Stewardship Community District Assessment Breakdown - Fiscal Year 2026-2027

		Residential	 Multi Family / Attached Single Family / Detached

	Other Uses	
ALF Apartments Apartments
MB Low Affordable Housing Goods and Services
Mini Warehouse (Self Storage)
Light Manufacturing Hotel
Institutional - AM University
Private K-12 School	

Number of Total	Per Unit Operation
Units Platted for	& Maintenance &
Fiscal Year 2026-	Reserve
	2027		 Assessment 
  Per	
1,168	Unit	$	984.20
5,480	Unit	$	984.20

  Per	
0	Unit	$	105.41
0	Unit	$	283.89
48	Unit	$	200.82
219,138	Sq. Ft.	$	0.47
50,353	Sq. Ft.	$	0.14
417,048	Sq. Ft.	$	0.93
0	Room	$	500.34
1,359	Student	$	52.10
582	Student	$	129.41	
Category Total Operation & Maintenance & Reserve
  Assessment 

$ 1,149,545.60
$ 5,393,416.00

$	-
$	-
$	9,639.36
$  102,994.86
$	7,049.42
$  387,854.64
$	-
$	70,803.90
$	75,316.62	
Total		$ 7,196,620.40	

$	804.02	$	151.51	$	955.53	3.00%	$	24.12	$	4.55	$	828.14	$	156.06	$	984.20	
$	804.02	$	151.51	$	955.53	3.00%	$	24.12	$	4.55	$	828.14	$	156.06	$	984.20	

$	86.11	

$	16.23	

$	102.34	

3.00%	

$	2.58	

$	0.49	

$	88.69	

$	16.72	

$	105.41	
$	231.91	$	43.71	$	275.62	3.00%	$	6.96	$	1.31	$	238.87	$	45.02	$	283.89	
$	164.05	$	30.92	$	194.97	3.00%	$	4.92	$	0.93	$	168.97	$	31.85	$	200.82	
$	0.38	$	0.08	$	0.46	3.00%	$	0.01	$	-	$	0.39	$	0.08	$	0.47	
$	0.12	$	0.02	$	0.14	3.00%	$	-	$	-	$	0.12	$	0.02	$	0.14	
$	0.77	$	0.14	$	0.91	3.00%	$	0.02	$	-	$	0.79	$	0.14	$	0.93	
$	408.74	$	77.03	$	485.77	3.00%	$	12.26	$	2.31	$	421.00	$	79.34	$	500.34	
$	42.56	$	8.02	$	50.58	3.00%	$	1.28	$	0.24	$	43.84	$	8.26	$	52.10	
$	105.72	$	19.92	$	125.64	3.00%	$	3.17	$	0.60	$	108.89	$	20.52	$	129.41	

New Total O&M + Reserve Assessment Amount

New Reserve Assessment Amount

Increase due to CPI  Increase due to CPI  Amount

3.4%

CPI Adjustment

CPI Adjustment

Assessment

Assessment

Amount of Reserve  New O&M

Amount of O&M Assessment

Assessment Before  Assessment Before  2025 CPI Rate -

Before CPI Adjustment

Year End March

Total O&M + Reserve

O&M Assessment  Reserve

O&M Assessments*	Automatic CPI Increase Calculation

Page 43

Debt Assessments *
	
Gross Units Platted	
Units Prepaid	
Net Units Assessed	
Series 2019 Bonds	
Series 2022 Bonds	
Series 2021 Bonds	
Series 2023 Bonds	
Series 2025 Bonds	
Series 2015 MR Bonds	
Series 2016 MR Bonds	
Series 2018 MR Bonds	
Series 2020 MR Bonds	
Series 2021 AMN Bonds	
Series 2022 MR Bonds	
Series 2025 MR Bonds	Total Debt Assessment Per
Unit	Total Debt Assessment On
Roll	
Multi Family																		
	166	(2)	164	$	403.00												$	403.00	66,092.00	
	92		92		$	495.00											$	495.00	45,540.00	
16 Unit Ver / 30 Unit Ter	46		46		$	495.00								$	455.46			$	950.46	43,721.16	
	40		40			$	449.15										$	449.15	17,966.00	
Coach / 12 Unit Ver	40		40			$	449.15							$	530.29			$	979.44	39,177.60	
16 Unit Ver / 30 Unit Ter	92		92			$	449.15							$	455.46			$	904.61	83,224.12	
	100		100				$	530.02									$	530.02	53,002.00	
Coach / 12 Unit Ver	228		228				$	530.02						$	530.29			$	1,060.31	241,750.68	
16 Unit Ver / 30 Unit Ter	364		364				$	530.02						$	455.46			$	985.48	358,714.72	
Single Family																		
	1118	(15)	1103	$	775.00												$	775.00	854,825.00	
	394		394	$	775.00					$	449.69							$	1,224.69	482,527.86	
	270		270	$	775.00						$	673.19						$	1,448.19	391,011.30	
	3		3	$	775.00							$	667.45					$	1,442.45	4,327.35	
	631	(3)	628		$	951.00											$	951.00	597,228.00	
	94		94		$	951.00					$	673.19						$	1,624.19	152,673.86	
	408	(1)	407		$	951.00						$	667.45					$	1,618.45	658,709.15	
	335		335		$	951.00							$	670.00				$	1,621.00	543,035.00	
	218		218		$	951.00								$	667.00			$	1,618.00	352,724.00	
	113		113		$	951.00									$	670.00		$	1,621.00	183,173.00	
	227		227			$	863.74										$	863.74	196,068.98	
	314		314			$	863.74								$	670.00		$	1,533.74	481,594.36	
	171		171			$	863.74							$	667.00			$	1,530.74	261,756.54	
	393		393				$	1,019.27									$	1,019.27	400,573.11	
	290		290				$	1,019.27							$	670.00		$	1,689.27	489,888.30	
	209		209				$	1,019.27								$	670.00	$	1,689.27	353,057.43	
	49		49	$	775.00											$	670.00	$	1,445.00	70,805.00	
	243	

	243					$	1,600.00								$	1,600.00	388,800.00	
Total	6,648	(21)	6,627														7,811,966.52	

* All Assessments Include the Following : 4% Discount for Early Payments
1.5% County Tax Collector Administrative Cost 2% County Property Appraiser Administrative Cost

AMSCD Final Budget FY 26-27 - 8/04/26	Page 20

Ave Maria Stewardship Community District Total Assessment Comparison 2026-2027

	Type		

  Bonds Series 	
FY 2025-2026
Number of	Per Unit
 Platted Units   Assessment 	
FY 2026-2027
Per Unit Assessment	
Change - Increase / (Decrease)	

Multi Family	

2019	

166	

$1,244.98	

$1,387.20	

$142.22	
	2022	92	$1,336.98	$1,479.20	$142.22	
	2022 + 2021 AMN	46	$1,792.44	$1,934.66	$142.22	
	2021	40	$1,291.13	$1,433.35	$142.22	
	2021 + 2021 AMN	40	$1,821.42	$1,963.64	$142.22	
	2021 + 2021 AMN	92	$1,746.59	$1,888.81	$142.22	
	2023	100	$1,372.00	$1,514.22	$142.22	
	2023 + 2021 AMN	228	$1,902.29	$2,044.51	$142.22	
	2023 + 2021 AMN	364	$1,827.46	$1,969.68	$142.22	
Single Family	2019	1,118	$1,616.98	$1,759.20	$142.22	
	2019 + 2015 MR	394	$2,066.67	$2,208.89	$142.22	
	2019 + 2016 MR	270	$2,290.17	$2,432.39	$142.22	
	2019 + 2018 MR	3	$2,284.43	$2,426.65	$142.22	
	2019 + 2025 MR	49	$0.00	$2,429.20	$2,429.20	
	2022	631	$1,792.98	$1,935.20	$142.22	
	2022 + 2016 MR	94	$2,466.17	$2,608.39	$142.22	
	2022 + 2018 MR	408	$2,460.43	$2,602.65	$142.22	
	2022 + 2020 MR	335	$2,462.98	$2,605.20	$142.22	
	2022 + 2021 AMN	218	$2,459.98	$2,602.20	$142.22	
	2022 + 2022 MR	113	$2,462.98	$2,605.20	$142.22	
	2021	227	$1,705.72	$1,847.94	$142.22	
	2021 + 2022 MR	314	$2,375.72	$2,517.94	$142.22	
	2021 + 2021 AMN	171	$2,372.72	$2,514.94	$142.22	
	2023	393	$1,861.25	$2,003.47	$142.22	
	2023 + 2022 MR	290	$2,531.25	$2,673.47	$142.22	
	2023 + 2025 MR	209	$2,531.25	$2,673.47	$142.22	
	2025	243	$0.00	$2,584.20	$2,584.20	
ALF Apartments		0	$90.18	$105.41	$15.23	
Apartments		0	$242.87	$283.89	$41.02	
Low Affordable Housing		48	$171.80	$200.82	$29.02	
Goods and Services (sqft)		219,138	$0.40	$0.47	$0.07	
Mini Warehouse (Self Storage) (sqft)		50,353	$0.13	$0.14	$0.01	
Light Manufacturing (sqft)		417,048	$0.81	$0.93	$0.12	
Hotel (rooms)		0	$428.04	$500.34	$72.30	
Institutional - AM University (students)		1,359	$44.57	$52.10	$7.53	
Private K-12 School (students)		582	$110.72	$129.41	$18.69	

Assessments Include the Following : 4% Discount for Early Payments
1.5% County Tax Collector Administrative Cost 2% County Property Appraiser Administrative Cost

AMSCD Final Budget FY 26-27 - 8/04/26	Page 21

RESOLUTION 2026-18
[FY 2026-2027 ASSESSMENT RESOLUTION]

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT PROVIDING FOR FUNDING FOR THE FY 2026-2027 ADOPTED BUDGET(S); PROVIDING FOR THE COLLECTION AND ENFORCEMENT OF SPECIAL ASSESSMENTS, INCLUDING BUT NOT LIMITED TO PENALTIES AND INTEREST THEREON; CERTIFYING AN ASSESSMENT ROLL; PROVIDING FOR AMENDMENTS TO THE ASSESSMENT ROLL; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Ave Maria Stewardship Community District (“District”) is a local unit of special-purpose government established pursuant to Chapter 2004-461, Laws of Florida, for the purpose of providing, operating and maintaining infrastructure improvements, facilities and services to the lands within the District, located in Collier County, Florida (“County”); and
WHEREAS, the District has constructed or acquired various infrastructure improvements and provides certain services in accordance with the District’s adopted capital improvement plan and Chapter 2004-461, Laws of Florida; and

WHEREAS, for the fiscal year beginning October 1, 2026, and ending September 30, 2027 (“FY 2026-2027”), the Board of Supervisors (“Board”) of the District has determined to undertake various operations and maintenance and other activities described in the District’s budget (“Adopted Budget”), attached hereto as Exhibit A; and

WHEREAS, pursuant to Chapter 2004-461, Laws of Florida, the District may fund the Adopted Budget through the levy and imposition of special assessments on benefitted lands within the District and, regardless of the imposition method utilized by the District, under Florida law the District may collect such assessments by direct bill, tax roll, or in accordance with other collection measures provided by law; and

WHEREAS, in order to fund the District’s Adopted Budget, the District’s Board now desires to adopt this Resolution setting forth the means by which the District intends to fund its Adopted Budget.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT:
FUNDING. The District’s Board hereby authorizes the funding mechanisms for the Adopted Budget as provided further herein and as indicated in the Adopted Budget attached hereto as Exhibit A and the assessment roll attached hereto as Exhibit B (“Assessment Roll”).

OPERATIONS AND MAINTENANCE ASSESSMENTS.
Benefit Findings. The provision of the services, facilities, and operations as described in Exhibit A confers a special and peculiar benefit to the lands within the District, which benefit exceeds or equals the cost of the assessments. The allocation of the assessments to the specially benefitted lands is shown in Exhibit A, Exhibit B, and further described in the Fourth Revised Operations & Maintenance Assessment Methodology Report for the Ave Maria Stewardship
1

District dated July 25, 2025, and is hereby adopted and implemented and attached hereto as Exhibit C , and is hereby found to be fair and reasonable.

O&M Assessment Imposition. Pursuant to Chapter 2004-461, Laws of Florida, a special assessment for operations and maintenance (“O&M Assessment(s)”) is hereby levied and imposed on benefitted lands within the District and in accordance with Exhibit A, Exhibit B and Exhibit C. The lien of the O&M Assessments imposed and levied by this Resolution shall be effective upon passage of this Resolution.

Maximum Rate. Pursuant to Section 197.3632(4), Florida Statutes, the lien amount shall serve as the “maximum rate” authorized by law for operation and maintenance assessments.

DEBT SERVICE SPECIAL ASSESSMENTS. The District’s Board hereby certifies for collection the FY 2026-2027 installment of the District’s previously levied debt service special assessments (“Debt Assessments,” and together with the O&M Assessments, the “Assessments”) in accordance with this Resolution and as further set forth in Exhibit A and Exhibit B, and hereby directs District staff to affect the collection of the same.

COLLECTION AND ENFORCEMENT; PENALTIES; INTEREST. Pursuant to Chapter 2004-461,
Laws of Florida, the District is authorized to collect and enforce the Assessments as set forth below.
Tax Roll Assessments. To the extent indicated in Exhibit A and Exhibit B, those certain O&M Assessments (if any) and/or Debt Assessments (if any) imposed on the “Tax Roll Property” identified in Exhibit B shall be collected by the County Tax Collector at the same time and in the same manner as County property taxes in accordance with Chapter 197, Florida Statutes (“Uniform Method”). That portion of the Assessment Roll which includes the Tax Roll Property is hereby certified to the County Tax Collector and shall be collected by the County Tax Collector in the same manner and time as County property taxes. The District’s Board finds and determines that such collection method is an efficient method of collection for the Tax Roll Property.

Direct Bill Assessments. To the extent indicated in Exhibit A and Exhibit B, those certain O&M Assessments (if any) and/or Debt Assessments (if any) imposed on “Direct Collect Property” identified in Exhibit B shall be collected directly by the District in accordance with Florida law, as set forth in Exhibit A and Exhibit B. The District’s Board finds and determines that such collection method is an efficient method of collection for the Direct Collect Property.
Due Date (O&M Assessments). O&M Assessments directly collected by the District shall be due and payable on the dates set forth in the invoices prepared by the District Manager, but no earlier than October 1st and no later than September 30th of FY 2027.

2

Due Date (Debt Assessments). Debt Assessments directly collected by the District shall be due and payable in full on December 1, 2026 provided, however, that, to the extent permitted by law, the Debt Assessments due may be paid in partial, deferred payments and on dates that are 30 days prior to the District’s corresponding debt service payment dates all as set forth in the invoice(s) prepared by the District Manager.
In the event that an Assessment payment is not made in accordance with the schedule(s) stated above, the whole of such Assessment, including any remaining partial, deferred payments for the Fiscal Year: shall immediately become due and payable; shall accrue interest, penalties in the amount of one percent (1%) per month, and all costs of collection and enforcement; and shall either be enforced pursuant to a foreclosure action, or, at the District’s sole discretion, collected pursuant to the Uniform Method on a future tax bill, which amount may include penalties, interest, and costs of collection and enforcement. Any prejudgment interest on delinquent Assessments shall accrue at the rate of any bonds secured by the Assessments, or at the statutory prejudgment interest rate, as applicable. In the event an Assessment subject to direct collection by the District shall be delinquent, the District Manager and District Counsel, without further authorization by the Board, may initiate foreclosure proceedings pursuant to Chapter 170, Florida Statutes, or other applicable law to collect and enforce the whole Assessment, as set forth herein.

Future Collection Methods. The District’s decision to collect Assessments by any particular method – e.g., on the tax roll or by direct bill – does not mean that such method will be used to collect special assessments in future years, and the District reserves the right in its sole discretion to select collection methods in any given year, regardless of past practices.
ASSESSMENT ROLL; AMENDMENTS. The Assessment Roll, attached hereto as Exhibit B, is hereby certified for collection. The Assessment Roll shall be collected pursuant to the collection methods provided above. The proceeds therefrom shall be paid to the District. The District Manager shall keep apprised of all updates made to the County property roll by the Property Appraiser after the date of this Resolution and shall amend the Assessment Roll in accordance with any such updates, for such time as authorized by Florida law, to the County property roll.

APPROVAL OF PRIOR ACTIONS. The actions of the Chairman, Vice Chairman, Secretary, Treasurer, Assistant Secretaries, and all District Staff in finalizing the Assessments and Assessment Roll as provided herein are hereby ratified, approved, and confirmed in all respects.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board.

3

PASSED AND ADOPTED this 4th day of August, 2026.

ATTEST:	AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

Secretary / Assistant Secretary

By:	 Its:	

Exhibit A:	Budget
Exhibit B:	Assessment Roll
Exhibit C:	Fourth Revised Operations & Maintenance Assessment Methodology Report for the Ave Maria Stewardship Community District dated July 25, 2025

4

Exhibit A
Budget

Found on Page 22 of this Meeting Book

Exhibit B
Assessment Roll

Available Upon Request Hard Copy Available at Meeting

Exhibit C
Fourth Revised Operations & Maintenance Assessment Methodology Report for the Ave Maria Stewardship Community District dated July 25, 2025

FOURTH REVISED OPERATIONS & MAINTENANCE ASSESSMENT METHODOLOGY REPORT
FOR THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

August 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

FOURTH REVISED OPERATIONS & MAINTENANCE ASSESSMENT METHODOLOGY REPORT FOR THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

Introduction

Purpose

This report (the “Fourth Revised O&M Assessment Methodology”) amends the original Operations & Maintenance Assessment Methodology Report (“Original O&M Methodology”) dated and approved July 5, 2007, the First Revised Operations & Maintenance Methodology Report dated and approved May 30, 2017, the Second Revised Operations & Maintenance Methodology Report dated and approved June 23, 2021 and the Third Revised Operations & Maintenance Methodology Report dated and approved July 2, 2024, by the Ave Maria Stewardship Community District (“District”) Board of Supervisors (“Board”). The Original O&M Methodology was designed to apply the annual Operations and Maintenance budget (“O&M Budget”) incurred by the District to provide certain operating and maintenance services to properties in the District.
Since the adoption of the Original O&M Methodology, the Town of Ave Maria’s (“Ave Maria”) build out development program has changed from the original estimation to its current program due to evolving market conditions. Ave Maria has since added to the Ave Maria Stewardship Receiving Area (“Ave Maria SRA”) through Collier County Ordinance 2023-119 as described in Section 1.2 of this report.
The District is codifying the three-year stairstep increase to the annual operations & maintenance (“O&M”) assessment as approved by the Board on July 2, 2024 and the addition of reserves through this methodology. The District has engaged Real Estate Econometrics, Inc. (“Consultant”) to develop the revised methodology.

Background

The acreage contained within the Town of Ave Maria “Ave Maria” is completely within the boundaries of the District. Ave Maria is a mixed-use community in unincorporated Collier County (“County”), Florida. The Collier County Board of County Commissioners granted certain development rights for the anticipated development within the District.

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Ave Maria has been under development for almost 20 years. When complete, Ave Maria will have a variety of multi-family and single-family product types, commercial/retail space, office space, schools, churches, a university and recreational opportunities.
On June 13, 2023, the Collier County Board of County Commissioners passed Resolution 2023-119 that amended Resolution Nos. 2004-89 and 2005-234A, making the following changes to the Ave Maria Stewardship Receiving Area (“SRA”):

Revised the existing University District and Neighborhood General District and added a new Town Center, Neighborhood General, and University District.
Expanded the Ave Maria SRA to include 325-acres (+/-) in the northwest area of the District and 540-acres (+/-) in the southeast area of the District.

Increased the Ave Maria SRA from 4,000 acres to 5,000 acres and did not increase the total number of residential units or commercial intensity.

Table 1 below outlines the Ave Maria build out development program that includes the 2023 SRA Revision development plan.
Table 1. The 2024 Revised Ave Maria Build Out Development Program

Land Use	Number of Units	
Residential*	10,350	
Apartments	602	
Middlebrook - Affordable Housing	48	
ALF Apartments	275	
Goods and Services	1,078,943	
Mini Warehouse (Self Storage)	40,400	
Light Manufacturing	711,000	
Hotel	300	
Institutional - AM University	2,000	
Private K-12 School	900	
*- Includes townhomes, attached villas, condominiums, duplexes, carriage homes, single family homes and detached villas.
Source: Developer

2

The District is also codifying the stairstep assessment increase over three years that was approved at the July 2, 2024, meeting and adding reserves to the O&M methodology.

Use of Specific Numbers within the Tables of the O&M Budget Assessment Methodology

Great diligence has been used to define the components of the build out development program defined in Table 1 (the “Development Program”), the estimated O&M Budget shown in Table 2, and the Assessment Apportions shown in Tables 3 through 5. The Ave Maria build out Development Program, the O&M Budget, and the resulting allocations are subject to change. They are used within this report to illustrate the application of the algorithms and principles used in establishing this Third Revised O&M Assessment Methodology.

The District Operations & Maintenance Budget at Build Out

The District Manager and Master Developer have identified certain operations and maintenance budget items that may be provided by the District and has provided a cost estimate at the time of the Community’s build out for each of those items to the Consultant. In order to establish the assessment methodology by which the benefiting properties will receive their apportioned assessment, the Consultant utilized the District’s estimated O&M Budget at build out in its assessment methodology to determine the potential O&M Budget assessments at build out. Details of the District’s O&M Budget at build out can be found in Table 2 on the next page.

(Rest of page left intentionally blank)

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Table 2. District’s 2024 Estimated O&M Budget at Build Out1

OPERATIONS AND MAINTENANCE	2024 Estimate	
		
Electric - Streetlights and Landscaping	300,000	
		
Roads - General Maintenance	0	
Roads - Street Sweeping	100,000	
Roads - Striping & Traffic Markings	350,000	
Roads - Street Light Maintenance	300,000	
Roads - Sidewalk/Curb Repairs	200,000	
Roads - Signage Repair	250,000	
		
Landscape - Maintenance Contracts	1,800,000	
Landscape - Tree Trimming	300,000	
Landscape - Plant Replacement	400,000	
Landscape - Mulch & Miscellaneous	350,000	
Landscape - Storm Cleanup	400,000	
		
Lakes - Maintenance & Littorals	200,000	
Lakes - Aerators	25,000	
Lakes - Aquatic Replacements	75,000	
		
Drainage - Storm Drain Cleaning	100,000	
		
Envirornmental - Preserves Maintenance	450,000	
Envirornmental - Mosquito Control	0	
Envirornmental - Pest/Rodent Control	40,000	
		
Utilities - Irrigation Water	225,000	
Utilities - Irrigation Repair	350,000	
Utilities - Entry Feature Water	10,000	
		
Maintenance - Operations Team (8 ppl)	995,000	
Maintenance - Vehicle Lease/Fuel Repairs	60,000	
Maintenance - Entry Fountain	175,000	
Maintenance - Equipment Repair	20,000	
Maintenance - Misc. Repairs	15,000	
Maintenance - Small Tools	20,000	
		
Admin - Management Team (5 ppl)	815,000	
Admin - Assessment Roll	30,000	
Admin - Website	25,000	
Admin - Payroll	63,000	
Admin - Maintenance Technicians	0	
Admin - Office Lease	30,000	
Admin - Office Utilities	27,500	
Admin - Administrative Supplies	10,000	
Admin - Insurance	250,000	
Admin - Taxes & Licenses	1,000	
Admin - Vehicle Lease/Fuel/Repairs	0	
		
Reserves		
Contingency	75,000	
		
TOTAL EXPENDITURES	$	8,836,500	
Source: District Manager and Master Developer

1 Note build out budget reflected herein does not include the area added to the District boundary in 2023 pursuant to Chapter 2023-333, Law of Florida.

4

O&M Estimated Budget at Build Out Assessment Methodology

Structure

The Operations and Maintenance Budget Assessment Methodology is a two-step process. First the District Manager and Master Developer determine the costs for the District’s annual O&M Budget at build out (shown in Table 2 on the previous page) of the community and provides those costs to the Consultant. Second, the Consultant determines the special and peculiar benefits that flow from the operations and maintenance services from the District’s O&M Budget to the benefiting properties within the District. The Consultant then determines the special and peculiar benefits that flow to the properties and their fair and reasonable allocation. The O&M Budget assessment methodology report detailed herein provides the mechanism by which the assessments from the District’s O&M Annual Estimated Budget were allocated and the special and peculiar benefits were apportioned to the benefiting properties within the District for levy and collection. The District Board of Supervisors (“Board”) makes the final determinations with regard to the special and peculiar benefits and the fair and reasonable allocation of the O&M Assessments.

Assessment Allocation

The District is undertaking the responsibility of providing the O&M Budget for its master infrastructure that supports vertical development within Ave Maria. As designed, the District infrastructure is an integrated system of improvements that confer special and peculiar benefits to the lands within the District. Logically, the O&M Budget supporting the District infrastructure also confers special and peculiar benefits to the lands within the District.
The Estimated O&M Budget Assessments at Build Out
The District shall allocate the costs to provide the operations and maintenance of its master infrastructure to the Development Program. In the case of the District’s First Sub-Master Final Supplemental Assessment Methodology Report adopted by the AMSCD Board of Supervisors on December 20, 2006, the primary measurement is trip generation since the Ave Maria Capital Improvement Program described in the Master Engineer’s Report dated May 2, 2006, (the “Capital Improvement Program”) is heavily focused on the provision of transportation infrastructure and its related uses such as the master irrigation system parallel the transportation system. In addition, the roadway water is channeled through a series of drainage structures in the roads through pipes to the water management system. The Consultant therefore utilized the same methodology with regard to assessing the O&M Budget to the benefiting properties.

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The Consultant utilized trip generation figures from the most recent Institute of Transportation Engineers (“ITE”) trip generation book (11th Edition) as applied to the various land categories being developed within the District as noted in Table 3 below.
Table 3. Trip Generation Rates for District Land Use Types

Product Type

Number of
Units	ITE Code

Trips Per Unit

Total Number of Trips

Percent of Total Trips

Residential*
Residential	
10,350	
210	
9.430	
97,601	
78.26%	
Apartments	602	220	5.440	3,275	2.63%	
Middlebrook - Affordable Housing	48	230	4.810	231	0.19%	
ALF Apartments	275	254	2.020	556	0.45%	
Commercial	
Goods and Services	1,078,943	710	0.011	11,868	9.52%	
Mini Warehouse (Self Storage)	40,400	151	0.001	59	0.05%	
Light Manufacturing	711,000	140	0.005	3,377	2.71%	
Hotel	300	310	7.990	2,397	1.92%	
Institutional - AM University	2,000	550	1.560	3,120	2.50%	
Private K-12 School	900	532	2.480	2,232	1.79%	
Totals				124,715	100.00%	
* - Includes townhomes, attached villas, condominiums, duplexes, carriage homes, single family homes and detached villas.
Source: Institute of Transportation Engineers 11th Edition

From there, the Consultant applied an internal trip generation discount that was used in the original bond issues and O&M methodology 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”. See Table 4 on the next page for external trip generation analysis.

(Rest of Page left intentionally blank)

6

Table 4. Adjusted Trip Generation Rates for District Land Use Types.

Product Type

Number of
Units	ITE Code

Trips Per Unit

Total Number of Trips

External Trip Generation

Adjusted Trips Generated

Trip Generation Allocation %

Residential*
Residential	
10,350	
210	
9.430	
97,601	
50.00%	
48,800	
85.33%	
Apartments	602	220	5.440	3,275	75.00%	819	1.43%	
Middlebrook - Affordable Housing	48	230	4.810	231	80.00%	46	0.08%	
ALF Apartments	275	254	2.020	556	75.00%	139	0.24%	
Commercial	
Goods and Services	1,078,943	710	0.011	11,868	80.00%	2,374	4.15%	
Mini Warehouse (Self Storage)	40,400	151	0.001	59	50.00%	29	0.05%	
Light Manufacturing	711,000	140	0.005	3,377	5.00%	3,208	5.61%	
Hotel	300	310	7.990	2,397	70.00%	719	1.26%	
Institutional - AM University	2,000	550	1.560	3,120	84.00%	499	0.87%	
Private K-12 School	900	532	2.480	2,232	75.00%	558	0.98%	
Totals				124,715		57,192	100.00%	
* - Includes townhomes, attached villas, condominiums, duplexes, carriage homes, single family homes and detached villas.
Source: Institute of Transportation Engineers 11th Edition and Consultant.

The Consultant calculated the percentage of trips that represent the portion of the special and peculiar benefit apportioned to the residential housing, assisted living units, apartments, the retail/entertainment/service component, professional office, light manufacturing/industrial, hotel, medical facilities, Ave Maria University and the K-12 school. The O&M Budget with and without the early payment discount was then allocated by the percentage of benefit received.

O&M Budget Allocation at Build Out
Based on the foregoing and this benefit analysis, each residential and non-residential use that is developed within the District will have some benefit arising from the District’s infrastructure and its related O&M Budget. Table 5 on the next page shows the combined O&M Budget benefit allocation at Build Out on a per unit basis for each unit within the Development Program. The table shows both the net and gross assessment per unit.

(Rest of Page left intentionally blank)

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Table 5. O&M Budget Benefit Allocation per Unit at Build Out

Product Type

Number of Units

Total Benefit Allocation

Unit Net O&M Assessment

Revised Per Unit Gross O&M Assessment with 4% Discount

Residential*
Residential	
10,350	
$7,539,968	
$728.50	
$787.57	
Apartments	602	$126,498	$210.13	$227.17	
Middlebrook - Affordable Housing	48	$7,135	$148.64	$160.69	
ALF Apartments	275	$21,457	$78.03	$84.35	
Commercial	
Goods and Services	1,078,943	$366,749	$0.34	$0.37	
Mini Warehouse (Self Storage)	40,400	$4,526	$0.11	$0.12	
Light Manufacturing	711,000	$495,718	$0.70	$0.75	
Hotel	300	$111,106	$370.35	$400.38	
Institutional - AM University	2,000	$77,130	$38.56	$41.69	
Private K-12 School	900	$86,215	$95.79	$103.56	
Totals		$8,836,500			
* - Includes townhomes, attached villas, condominiums, duplexes, carriage homes, single family homes and detached villas.
Source: District Manager, Master Developer and Real Estate Econometrics, Inc.

The special benefits, use and enjoyment that flow from sustained quality maintenance and operations of the District are the same for each residential parcel of property regardless of size and land use.

Stairstep Assessment Increase

At the District’s preliminary budget adoption meeting on July 2, 2024, the Board approved a three-year stairstep approach to the increase annual operations & maintenance assessment increase proposed for Fiscal Year 2024-2025. The increase is $102.19 per year. Table 6 below shows the stairstep annual O&M assessment by year.

Table 6. O&M Gross Assessment Spread Over 3 Years

November 2023	November 2024	November 2025	November 2026	
$481.00	$583.19	$685.38	$787.56	
Note: Does not include potential changes to the Consumer Price Index (CPI)

8

Establishment of a Reserve Account

The District is establishing a reserve account to fund the future replacement of various infrastructure items that are approaching the later stages of their useful life. The District is seeking to maintain a reserve account in order to fund future capital items replacement and repair. As with the current O&M methodology described previously in this Fourth Revised O&M Methodology, the reserve account will be funded through additional assessments based on trip generation since the Ave Maria Capital Improvement Program is heavily focused on the provision of transportation infrastructure and its related uses such as the master irrigation system that is parallel to the transportation system. In addition, the roadway water is channeled through a series of drainage structures in the roads through pipes to the water management system.

Previously, Table 3 and Table 4 established the method for allocating the special benefit by product type for the operations and maintenance of the District’s capital assets. The District enlisted the services of Reserve Advisors to prepare a report (“reserve study”) on the assets of the District. The reserve study was delivered to the District on January 2, 2025.

The District prepared a cash flow report based on that study to determine what annual reserve assessments by product type are needed to keep the reserve account neutral to positive. The cash flow analysis determined that an annual total reserve benefit allocation of $1,700,000 is required to maintain the reserve account in a neutral to positive position on an annual basis through the next 30 years. This Fourth Revised O&M Methodology determines the annual assessments required to maintain the reserve account in a neutral to positive position are shown in Table 6 below.
Table 6. Reserves Benefit Allocation and Assessment per Unit

Land Use	Number of Units	Total Benefit Allocation	Per Unit Reserve Assessment**	
Residential*	10,350	$1,450,568	$140.15	
Middlebrook - Affordable Housing	48	$1,373	$28.60	
Apartments	602	$24,336	$40.43	
ALF Apartments	275	$4,128	$15.01	
Goods and Services	1,078,943	$70,557	$0.07	
Mini Warehouse (Self Storage)	40,400	$871	$0.02	
Light Manufacturing	711,000	$95,368	$0.13	
Hotel	300	$21,375	$71.25	
Institutional - AM University	2,000	$14,839	$7.42	
Private K-12 School	900	$16,586	$18.43	
Total		$1,700,000		
* - Includes townhomes, attached villas, condominiums, duplexes, carriage homes, single family homes and detached villas.
** - Net of Collection Costs.
Source: District Manager, Master Developer, Reserve Study and Real Estate Econometrics, Inc.

`	9

Consumer Price Index Multiplier

In order to allow for price increases in services and parts, the Consultant recommends that the build out budget as shown in Table 2 be adjusted by a consumer price index multiplier so that the budget keeps up with inflation and other economic adjustments. The Consultant recommends using the United States Bureau of Labor Statistics consumer price index for Urban Wage Earners and Clerical Workers in the Southeast Region. The March year over year CPI for that category should be used as the multiplier since it will allow for the calculation of the O&M Budget prior to the next fiscal year’s preliminary budget approval meeting in May/June.

Reasonable and Fair Allocation of a special and peculiar benefit and Duty to Pay

A reasonable estimate of the proportion of special and peculiar benefits received from the District’s O&M Budget is expressed in Table 5 above.

The determination has been made that the duty to pay the non-ad valorem special assessments and the determined O&M Budget special and peculiar benefits are fairly and reasonably apportioned because the special and peculiar benefits to the property deriving from the O&M Budget (and the concomitant responsibility for the payment of the resultant and allocated O&M Budget) have been apportioned to the property according to reasonable estimates of the special and peculiar benefits provided consistent with 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 5 and Table 6 represent the anticipated per unit O&M and Reserve allocations assuming all anticipated land uses and units are built out in the proportions planned. If the anticipated amount of land uses and units were to change, then the allocations will change accordingly.

10

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 payments due. The District will not release any liens on property for which payments are due until provision for such payment has been satisfactorily made.

The owner of record at the time the annual O&M Budget assessment roll is adopted and when assessments are due will have the responsibility to make the assessment payments. In all cases, payments must be made to enable the District to meet its O&M Budget obligations.

(Rest of Page left intentionally blank)

`	11

RESOLUTION NO. 2026-19

A RESOLUTION OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT ADOPTING A FINAL FISCAL YEAR 2026/2027 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 charge customers for irrigation water from the District-Owned Master Irrigation Utility System; and,

WHEREAS, the District Manager has prepared a final fiscal year 2026/2027 budget 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 Final Budget for Fiscal Year 2026/2027 for the District’s Master Irrigation Utility System 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 4th day of August, 2026.

ATTEST:	AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

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

Ave Maria Master Irrigation Utility

Final Budget For Fiscal Year 2026/2027
October 1, 2026 - September 30, 2027

FINAL AVE MARIA MASTER IRRIGATION UTILITY BUDGET AVE MARIA STEWARDSHIP COMMUNITY DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

	FISCAL YEAR 2024/2025
ACTUAL	FISCAL YEAR 2025/2026
BUDGET	FISCAL YEAR 2026/2027
BUDGET	
REVENUES				

Irrigation Revenue (Collected on AMUC bill)	
1,583,145	
2,089,744	
2,331,323	

Developer Contribution	
238,938	
87,157	
0	

Connection Fees	
9,938	
5,000	
5,000	

Meter Installations	
127,844	
120,002	
120,811	

Miscellaneous / Carryover Revenue	
10,835	
11,240	
11,240	

Peninsula True-Up Of Expenditures	
69,773	
0	
0	
Total Revenues	$	2,040,472	$	2,313,143	$	2,468,374	
				
EXPENDITURES				

Management Fee	
250,247	
255,974	
269,006	

Electricity	
259,394	
419,448	
395,579	

Labor & Benefits	
590,163	
653,345	
709,939	

Chemicals	
1,500	
1,500	
1,500	

Repairs & Maintenance	
167,565	
228,745	
240,685	

Regulatory Testing	
1,500	
1,500	
1,600	

Meter Purchase	
225,620	
94,764	
116,300	
Meter Installation	9,971	8,271	8,832	
Other Direct Costs	216,330	98,157	107,952	
Administration Fee	12,000	12,000	12,000	
AMUC Bulk Water Charge	474,263	539,439	556,730	
Other Expenses	0	0	0	
Total Expenditures	$	2,208,553	$	2,313,143	$	2,420,123	
				
Excess / (Shortfall)	$	(168,081)	$	-	$	48,251	

FY 2026/2027 DEVELOPER CONTRIBUTION AND DEFICIT FUNDING AGREEMENT
THIS  FY  2026/2027  DEVELOPER  CONTRIBUTION  AND  DEFICIT  FUNDING  AGREEMENT
(“Agreement”) is made and entered into to be effective the 4th day of August 2026, 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 (“District”), and

Ave Maria Development, LLLP, a Florida limited liability limited partnership, the primary developer of lands within the boundary of the District, and whose address is 2600 Golden Gate Parkway, Naples, Florida 34105 (“Developer”).
RECITALS

WHEREAS, the District was established for the purpose of planning, financing, constructing, operating and/or maintaining certain infrastructure; and
WHEREAS, the District, pursuant to the Act is authorized to levy such taxes, special assessments, fees and other charges as may be necessary in furtherance of the District's activities and services; and

WHEREAS, the Board of Supervisors (“Board”) of the District has adopted the District’s operations and maintenance budget (“O&M Budget”) for the fiscal year ending September 30, 2027 (“FY 2026/2027”) and has levied special assessments (“O&M Assessments”) to fund a portion of the O&M Budget a copy of which is attached hereto and made a part hereof as Exhibit A; and
WHEREAS, the Board has adopted the Ave Maria Master Irrigation Utility budget (“Utility Budget”) for FY 2026/2027 a copy of which is attached hereto and made a part hereof as Exhibit B; and

WHEREAS, in connection with the adoption of the O&M Budget and the levy of the O&M Assessments, and in consideration for the District not levying additional O&M Assessments, the Developer has agreed to pay the O&M Assessments levied on its properties, and additionally to fund any portion (“O&M Deficit”) of the O&M Budget needed by the District above and beyond the amount of the O&M Assessments actually levied;

WHEREAS, in connection with the adoption of the Utility Budget, the Developer has agreed to fund any Utility Budget funding deficits;
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 parties agree as follows:

RECITALS.	The recitals so stated are true and correct and by this reference are incorporated into and form a material part of this Agreement.

FUNDING OBLIGATION.
O&M Budget. The Developer agrees to make available to the District the monies necessary to fund any O&M Deficit for FY 2026/2027, as detailed in the O&M Budget, within thirty (30) days of written
1

request by the District. The funds shall be placed in the District's general checking account and used to fund the actual administrative and operations expenses of the District’s O&M Budget. The Developer agrees to fund any O&M Deficit for actual expenses of the District and up to the total amount of the O&M Budget; provided, however, that the Developer shall not be responsible for any O&M Deficit resulting from amendments to the O&M Budget, unless the Developer approves of such amendments. The Developer’s payment of funds pursuant to this Agreement in no way affects Developer’s obligation to pay O&M Assessments levied on lands it owns within the District. The District shall have no obligation to reimburse the Developer for any monies paid under this Agreement.

Utility Budget. The Developer agrees to fund any utility funding deficit for actual expenses of the District. Developer agrees to provide such funding deficit within thirty (30) days of written request by the District. The funds shall be placed in the District's general checking account and used to fund the actual administrative and operations expenses of the District’s Utility Budget. The District shall have no obligation to reimburse the Developer for any monies paid under this Agreement.

AMENDMENT. This instrument shall constitute the final and complete expression of the agreement between the parties relating to the subject matter of this Agreement. 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.

AUTHORITY. The execution of this Agreement has been duly authorized by the appropriate body or official of all parties hereto, each party has complied with all the requirements of law, and each party has full power and authority to comply with the terms and provisions of this instrument.
ASSIGNMENT. This Agreement may not be assigned, in whole or in part, by either party except upon the written consent of the other. Any purported assignment without such consent shall be void.

DEFAULT. A default by either party under this Agreement shall entitle the other 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.
ATTORNEY’S FEES. In the event that either party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the prevailing party shall be entitled to recover from the other all costs incurred, including reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.

BENEFICIARIES. This Agreement is solely for the benefit of the formal parties herein and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the parties hereto and their respective representatives, successors and assigns.

APPLICABLE LAW; VENUE. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida. Venue for any action

2

under this Agreement shall be in a state circuit court of competent jurisdiction in and for Collier County, Florida.

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 with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are each deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any party.

IN WITNESS WHEREOF, the parties execute this Agreement the day and year first written above.

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

By: 	 Its: 		

AVE MARIA DEVELOPMENT, LLLP

By:	 Name: 	  Title: 	 

EXHIBIT A:	O&M Budget with Assessment Schedule
EXHIBIT B:	Utility Budget

3

EXHIBIT A
O&M Budget with Assessment Schedule

4

EXHIBIT B
Utility Budget

5

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	

Q2 2023	Anthem Parkway Roadway: Q3 2026
IPS #4:
Q4 2026	

100% Design
90% Construction	

$10,264,854	

*$13,100,000	

2023 & 2025
Bonds	

Daniel Hartley	

Allyson Holland (District)	Phase 5A: Final lift of asphalt and thermoplastic striping complete. Phase 5A Sidewalk Addition: Construction began 7/29/26, should be complete by end of August.

IPS4: Irrigation pump station installation and site work substantially complete. Access driveway installed as gravel in lieu of concrete. Concrete driveway to be installed with building construction. Recharge well construction in progress and nearing completion. Building design for irrigation pump station housing in progress.	

Anthem Parkway Ph 5B (Includes roundabout at PJPII)

6/7/2022	

Q1 2025	

Q3 2026	

100% Design
80% Construction	

$8,394,852	

*$9,609,525	

2023 & 2025
Bonds	

Daniel Hartley	
Allyson Holland (District)	Ph 5B-1 is complete. Ph 5B-2: Final lift of asphalt and thermoplastic striping complete.* Site Acceptance Preliminary (SAP) is approved by Collier County and roadway is open to public.

*Connection at Madison St. (Emerson Park) has been approved as a separate phase of construction and will not be completed at this time. Emerson Park has not agreed to allow the connection at this time.	
Athrex Commerce Park Phase 3
12/26/2024	
6/1/2025	
3/1/2027	Mass Grading/Excavation - 95% Construction
Roadway/Infrastructure	
TBD	Earthwork/Mass Grading Only -
$2,045,036.80	
2025 Bonds	
David Hurst	AMD and District	Mass grading project is 95% complete. Roadway construction plans are approved and plat is recorded. Construction contracts are awarded and shop drawings are in production.	
Distrct Website Update
1/23/2025	1/23/2025	12/30/2026	30%	TBD	TBD	N/A	GSMA	Allyson
Holland	Updates to website continue.	
Crosswalk Analysis/Intersection Improvements
8/27/2025	
6/1/2025	
9/30/2026	
100% Analysis
60% Construction	
$100,000	
$61,618	
FY 25/26 O&M
Budget	
TBD	Allyson Holland (District)	
Striping, signage, and landscape improvements are complete. Option to move forward with design and constuction of RRFBs at Bellera?	
Ave Maria Blvd Entry Feature Design Alternatives
1/23/2026	
10/14/2025	
9/30/2026	
90%	
N/A	
$15,000	
FY 25/26 O&M
Budget	
OPI	Allyson Holland (District)	Blue AVE MARIA lettering was approved by Board; signage will be installed later this year. Blue letters will last approx. 5 years before they start to streak, but should be cleaned and waxed every year to extend life. They may last longer now that the water is off. Faux rock will be pressure washed and sealed prior to letter replacement. Fountain will be
removed/renovated next FY. Staff is waiting on pricing.	
Collier County Partnership
3/30/2026	
3/3/2026	
12/1/2026	
25%	
TBD	
TBD	
TBD	
LJA	Allyson Holland
(District)	
Board approved letter to County at 6/2/26 meeting, District Manager sent to County. Waiting to hear back from County.	
Board Seat Turnover Analysis
3/30/2026	
3/3/2026	
12/1/2026	
75%	
TBD	
TBD	
TBD	
LJA	Allyson Holland (District)	
Staff will present updates and timeline to Board at 8/4/26 meeting.	
Golf Cart Ordinance Update
7/29/2026	
7/6/2026	
7/1/2027	
0%	
TBD	
TBD	
TBD	
TBD	Allyson
Holland (District)	
Staff waiting to hear back from Collier County.	
Athrex Berm Update 7/29/2026	
7/6/2026	
12/1/2026	
25%	
TBD	
TBD	
TBD	
AMD	Allyson Holland
(District)	
Staff is researching berm history and will provide update at September meeting.	

Kutak Rock LLP
107 West College Avenue, Tallahassee, FL 32301
office 850.692.7300 Alyssa.Willson@kutakrock.com

MEMORANDUM

TO:	AVE MARIA STEWARDSHIP COMMUNITY DISTRICT (THE “DISTRICT”) BOARD OF SUPERVISORS (THE “BOARD”)
FROM:	ALYSSA C. WILLSON DATE:	 AUGUST 4, 2026
RE:	TIMELINE FOR LOCAL BILL AMENDING THE BOARD CONVERSION TO QUALIFIED ELECTOR PROCESS FOR AVE MARIA STEWARDSHIP
	COMMUNITY DISTRICT	

As requested by the Board during its June 2, 2026, Board meeting, the following provides an overview of the process for amending Chapter 2004-461, Laws of Florida (the “Act”) to modify the procedures for Board conversion to qualified electors to convert from the urban mapping process to a population basis. The below timeline contemplates seeking an amendment to the Act during the 2027 Florida legislative session. The timeline would need to be modified should the Board wish to pursue action during a later legislative session.
LOCAL BILL TIMELINE
August/September 2026    Board authorizes District staff to draft legislation amending the
process for board conversion to qualified elector process described within the Act and supplemental materials including but not limited to economic impact statement. Board to consider authorizing District staff to obtain proposals for lobbying services.
September /October 2026   Board to consider draft legislation and supplemental materials.
Board to authorize staff to pursue legislation before the Florida Legislature and statement of no objection to the amendment of the Act from Collier County (the “County”). Board to consider retaining a lobbyist.
Fall 2026	District staff to coordinate with local legislative delegation members, county attorney(s), county administrator(s), and county commissioners. Obtain a statement of no objection to the amendment of the District Act from the County.1

1 This statement is required when creating an independent special district under Chapter 189, Florida Statutes. However, the Collier County Board of County Commissioners has in the past provided a resolution making such finding for prior amendments to the District special act.

Late Fall 2026	Local Delegation Hearing to be Held2

Late January 2027	Deadline for submission of draft bills to House bill drafting3 Pre-Jan. 29, 2027	Deadline for publication of Notice of Intent re bill4
March 2, 2027	First day of the 2027 regular legislative session.
Deadline for filing with Clerk in House:
Draft bill (which has already been through bill drafting)
Affidavit of Proof of Publication of Notice of Intent 30 days prior
Local Bill Certification Form (asks whether public hearing held)
Economic Impact Statement

2 No specified deadline; Attorney General has said it is a “reasonableness test.” Anticipated to occur in November or December following the 2026 general election. However, the delegation hearing could occur as late as January 2027. 3 While most legislation is filed as companion bills in the House and Senate, it is atypical to submit a local Senate bill.
4 Must be published in a newspaper of general circulation a minimum of 30 days prior to introduction. Specific requirements apply, including an affidavit of publication.

2

URBAN MAP METHOD VS POPULATION METHODS QUALIFIED ELECTOR SEAT PROJECTIONS

URBAN MAP METHOD	POPULATION METHOD
EQUAL INCREMENTS	POPULATION METHOD
3rd SEAT AT 50%	

Year	Proposed SRA
Without Latitude (10,805 AC)	Proposed SRA
With Latitude (11,806 AC)	Proposed SRA
Without Latitude (10,805 AC)	Proposed SRA
With Latitude (11,806 AC)	Proposed SRA
Without Latitude (10,805 AC)	Proposed SRA
With Latitude (11,806 AC)	
2010							
2011							
2012							
2013							
2014							
2015							
2016	Seat 1	Seat 1					
2017							
2018							
2019							
2020							
2021	Seat 2	Seat 2					
2022			Seat 1		Seat 1		
2023						Seat 1	
2024				Seat 1			
2025							
2026							
2027							
2028			Seat 2		Seat 2		
2029							
2030				Seat 2		Seat 2	
2031							
2032					Seat 3		
2033						Seat 3	
2034		Seat 3					
2035				Seat 3			
2036			Seat 3				
2037	Seat 3						
2038							
2039						Seat 4	
2040							
2041					Seat 4		
2042							
2043		Seat 4		Seat 4			
2044			Seat 4				
2045							
2046							
2047				Seat 5 *		Seat 5 **	
2048			Seat 5 *		Seat 5 **		
2049							
* Note - If the registered voters threshold for the fifth and final seat turnover is not met, the fifth seat will turnover when 13,000 residential units are occupied.

** Note - If the registered voters threshold for the fifth and final seat turnover is not met, the fifth seat will turnover when 16,150 residential units are occupied.

Ave Maria
Stewardship Community District

MEMORANDUM

To:	Board of Supervisors
From: Allyson Holland, P.E., District Manager
Date: July 28, 2026
Board Meeting Date:	August 4, 2026

SUBJECT
Fiscal Year 2026/2027 meeting schedule for the Ave Maria Stewardship Community District Board of Supervisors.

STAFF RECOMMENDATION
Staff recommends the Board of Supervisors discuss the proposed schedule of the Fiscal Year 2026/2027 Board meetings and approve a schedule in compliance with the requirements of Section 189.015, Florida Statutes and Rule 1.1 (5) of the District’s Rules of Procedure.

GENERAL INFORMATION
Annually, the Board of Supervisors considers and approves a meeting schedule for the upcoming fiscal year. Staff has prepared the Board’s schedule of meetings to be held generally on the first Tuesday of each month in the Ave Maria Master Association Building. In the past, meetings were typically held at 9:00 a.m., but two years ago we adjusted the meeting time to 4:00 p.m. to accommodate current Supervisors’ schedules (with the exception of the anticipated final budget hearing held at 6:00 p.m.). Please note that staff may schedule additional workshops (e.g. budget workshop) which will be noticed in accordance with statutory requirements. Provided below is the proposed twelve-month schedule of meeting dates for Fiscal Year 2026/2027.
Tuesday, October 6, 2026 at 4:00 p.m. to be held at Grand Hall at Del Webb
Tuesday, November 10, 2026 at 4:00 p.m. (pushed one week to avoid Election Day on 11/3) to be held at Grand Hall at Del Webb. Note Landowner Election to be held at 3:30 p.m., thirty minutes prior to the Regular Board Meeting.
Tuesday, December 1, 2026 at 4:00 p.m.
Tuesday, January 5, 2027, at 4:00 p.m.
Tuesday, February 2, 2027 at 4:00 p.m.
Tuesday, March 2, 2027 at 4:00 p.m.
Tuesday, April 6, 2027 at 4:00 p.m.
Tuesday, May 4, 2027 at 4:00 p.m.
Tuesday, June 1, 2027 at 4:00 p.m. (Proposed Budget Meeting)
Tuesday, July 6, 2027 at 4:00 p.m.
Tuesday, August 3, 2027 at 6:00 p.m. (Final Budget Hearing)
Tuesday, September 7, 2027 at 4:00 p.m.
1

Ave Maria
Stewardship Community District

MEMORANDUM

DISTRICT LEGAL COUNSEL REVIEW
Not applicable.
FUNDING REVIEW
Not applicable.

Attachment

2

RESOLUTION NO. 2026-20

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2026/2027 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, it is necessary for the Ave Maria Stewardship Community District ("District") to establish a regular meeting schedule for fiscal year 2026/2027; and

WHEREAS, the Board of Supervisors of the District has set a regular meeting schedule, location and time for District meetings for fiscal year 2026/2027 which is attached hereto and made a part hereof as Exhibit “A”.

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

Section 1.   The above recitals are hereby adopted.

Section 2.  The regular meeting schedule, time and location for meetings for fiscal year 2026/2027 which is attached hereto as Exhibit “A” is hereby adopted and authorized to be published.
PASSED AND ADOPTED this 4th day of August, 2026.

ATTEST:	AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

ASSISTANT SECRETARY	CHAIRMAN

Exhibit A

AVE MARIA STEWARDSHIP COMMUNITY DISTRICT FISCAL YEAR 2026/2027 REGULAR MEETING SCHEDULE
NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Ave Maria Stewardship Community District (the “District”) will hold Regular Meetings in the Ave Maria Master Association located at 5080 Annunciation Circle, Suite 101, Ave Maria, Florida 34142, at 4:00
p.m. (**unless otherwise noted**) on the following dates:

**October 6, 2026**
**November 10, 2026**
December 1, 2026
January 5, 2027
February 2, 2027
March 2, 2027
April 6, 2027
May 4, 2027
June 1, 2027
July 6, 2027
**August 3, 2027 at 6:00 p.m**
September 7, 2027

The District will also hold meetings utilizing communications media technology through the following login information:

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 meetings is to conduct any and all business coming before the Board. Meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Copies of the Agenda for any of the meetings may be obtained from the District’s website or by contacting the District Manager at (561) 630-4922 and/or toll free at 1-877-737-4922 prior to the date of the particular meeting.

From time to time one or more Supervisors may participate by telephone; therefore a speaker telephone will be present at the meeting location so that Supervisors may be fully informed of the discussions taking place. Meetings may be continued as found necessary to a time and place specified on the record.

If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to insure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.

Ave Maria
Stewardship Community District

MEMORANDUM

To:	Board of Supervisors
From: Allyson Holland, P.E., District Manager
Date: July 27, 2026

Board Meeting Date:	August 4, 2026

SUBJECT

Consider Approval of Sixth Amendment to Agreement with Davey Tree Expert Company for Landscape and Irrigation Maintenance Services.

STAFF RECOMMENDATION

Staff recommends Approval of the Sixth Amendment to the Agreement with Davey Tree Expert Company for Landscape and Irrigation Maintenance Services in Accordance with Contract Terms and Conditions.

GENERAL INFORMATION
At the September 12, 2023 Regular Board Meeting, the Board of Supervisors adopted Resolution No. 2023-19, Awarding Landscape and Maintenance Services Contract to Davey Tree Expert Company (Davey Tree). Section 5 of the executed contract/agreement states: “Work shall commence on October 1, 2023, and end September 30, 2024, unless terminated earlier in accordance with Section 13 (Termination) below. At the end of the term set forth above, the District shall have the option, in its sole and absolute discretion, of extending the agreement for up to four additional one year (12 month) periods.”

The Board unanimously approved five subsequent amendments which include two additional annual extensions, adding landscape and irrigation maintenance on Peek Way, Ave Maria Boulevard extension (Anthem Parkway Phase 5A1), Anthem Parkway Phase 5A2, Arthrex Commerce Park Berm, Oil Well Road Berm Enhancements, and Anthem Parkway Phase 5B.
Staff has been pleased with Davey’s work over the past year, which includes several additional roadways and berms. Staff is closely monitoring Davey’s upkeep of the property including the additional areas that have been added over the past two years. Staff recommends extending the agreement with Davey Tree for another year commencing October 1, 2026, and ending September 30, 2027. Staff believes Davey Tree will continue to provide continuity of service in all facets of landscape and irrigation maintenance to ensure the community’s expectations of service levels are maintained.

1

Ave Maria
Stewardship Community District

MEMORANDUM

The proposed FY 2026/2027 budget includes the landscape and irrigation costs associated with the third extension to the agreement, plus the cost anticipated for the Arthrex Commerce Park Phase 3 project once completed. An amendment for the Arthrex Commerce Park Phase 3 landscape and irrigation maintenance will be brought before the Board next calendar year. The costs associated with all landscape and irrigation maintenance are summarized below:

Third annual renewal = $775,633.00 (contractual cost) Peek Way = $33,767.39*
Anthem Parkway Phase 5A1 = $34,671.27* Anthem Parkway Phase 5A2 = $41,763.86* Arthrex Commerce Park Berm = $33,532.91*
Oil Well Road Berm Enhancements = $49,310.08* Anthem Parkway Phase 5B = $42,642.00
Total Amended Cost = $1,011,320.51
*Price shown includes 3.0% CPI increase as included and extrapolated from original proposal

PROCUREMENT REVIEW
In accordance with Florida Law and District Rules of Procedure.
DISTRICT ENGINEER REVIEW
Not applicable
DISTRICT LEGAL COUNSEL REVIEW
The District Legal Counsel has reviewed and approved the attached Amendment for legal form and sufficiency.
FUNDING REVIEW
Funding is sufficiently included in the proposed FY 2026-2027 Operations & Maintenance Budget.

Attachments

2

SIXTH AMENDMENT TO LANDSCAPE AND IRRIGATION MAINTENANCE SERVICES AGREEMENT BY AND BETWEEN AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
AND THE DAVEY TREE EXPERT COMPANY
This Sixth Amendment (the “Sixth Amendment”) is made and entered into as of this 4th day of August, 2026, by and between:

Ave Maria Stewardship Community District, a local unit of special-purpose government established pursuant to Chapter 2004-461, Laws of Florida, as amended, being situated in Collier County, Florida, and having offices at 2501A Burns Road, Palm Beach Gardens, Florida 33410 (the District”); and
The Davey Tree Expert Company, an Ohio corporation, whose address is 1500 North Mantua Street, Kent, Ohio 44240 (the “Contractor” and, together with the District, the “Parties”).

RECITALS
Whereas, the District and the Contractor entered into that Landscape and Irrigation Maintenance Services Agreement (the “Agreement”), dated October 1, 2023, as amended from time to time; and

Whereas, pursuant to Section 20 of the Agreement, the Parties desire to amend the Agreement as set forth in more detail in Section 2 below and
Whereas, any terms not otherwise defined herein shall have the meaning set forth in the Agreement.

Whereas, the Parties each represent that it has the authority to execute this Sixth Amendment and to perform its obligations and duties hereunder, and each has satisfied all conditions precedent to the execution of this Sixth Amendment so that this Sixth Amendment constitutes a legal and binding obligation of each party hereto.
Now, Therefore, based upon good and valuable consideration and the mutual covenants of the Parties, the receipt of which and sufficiency of which is hereby acknowledged, the Parties agree as follows:

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

SECTION 2.  Pursuant to Section 20 of the Agreement, the Agreement is hereby amended as follows:
The term of the Agreement is hereby renewed in accordance with Contractor’s proposal attached to the Agreement as Exhibit B, with a term from October 1, 2026 through September 30, 2027, (the “Third Renewal”) unless terminated earlier in accordance with the provisions of the Agreement.

As compensation for services described in this Sixth Amendment, the District agrees to pay the Contractor twelve (12) monthly payments of Eighty-Four Thousand Two Hundred Seventy-Six Dollars and Seventy-One Cents ($84,276.71) for an annual total of One Million Eleven Thousand Three Hundred Twenty Dollars and Fifty-One Cents ($1,011,320.51) as further described in Composite Exhibit A.

Breakdown of Compensation:

Third Renewal pricing per original agreement:	$775,633.00
The following are added including a 3% CPI increase:
o	Peek Way:	$33,767.39
Anthem Parkway Ph 5A1:	$34,671.27
Anthem Parkway Ph 5A2:	$41,763.86
Arthrex Commerce Park Berm:	$33,532.91
Oil Well Road Berm Enhancements:	$49,310.08
Anthem Parkway Ph 5B:	$42,642.00
Annual Total:	$1,011,320.51
SECTION 3.  To the extent that the terms of the Agreement or the Proposals conflict with the terms set forth in Section 2 above, the terms of the Agreement and Sixth Amendment shall control.
SECTION 4.  All remaining terms and conditions of the Agreement, without limitation, are hereby adopted, reaffirmed and incorporated as if restated herein.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

In Witness Whereof, the Parties execute this Sixth Amendment the day and year first written above.
ATTEST:	AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

Secretary / Assistant Secretary	Chairperson, Board of Supervisors

THE DAVEY TREE EXPERT COMPANY

By:	

By:		Its:	

Composite Exhibit A: Proposal

Composite Exhibit A

Proposal

Third Second Renewal: $775,633.00 (per original agreement) Plus Peek Way: $33,767.39 (includes 3% CPI increase)
Plus Anthem Parkway Ph 5A1: $34,671.27 (includes 3% CPI increase) Plus Anthem Parkway Ph 5A2: $41,763.86 (includes 3% CPI increase)
Plus Arthrex Commerce Park Berm: $33,532.91 (includes 3% CPI increase)
Plus Oil Well Road Berm Enhancements: $49,310.08 (includes 3% CPI increase) Plus Anthem Parkway Ph 5B: $42,642.00 (includes a 3% CPI increase)
Total: $1,011,320.51

Anthem Pkwy Phase 5A Ave Maria Blvd

Having carefully examined the specifications, and agreement for services and having thoroughly inspected said property, the undersigned proposes to furnish all labor, materials, and proper equipment For the entire scope of work, in accordance with stated specifications, for the sum of:

Total General Weekly services (mowing, edging & trimming, pruning, weed control, guying, soil
testing)
$ 28,937.00 Yr. Includes:

$28,937.00	Ave Maria Blvd

Fertilization (All labor and materials)	$2,516 Yr.
Month of Fertilization:
January March May July
September November

Irrigation	$1228 Yr.
Inspections will be done monthly

The total price of service for Ave Maria Blvd
$32,681 Yr.

Ave Maria
Stewardship Community District

MEMORANDUM

To:	Board of Supervisors
From: Allyson Holland, P.E., District Manager
Date: July 27, 2026
Board Meeting Date:	August 4, 2026

SUBJECT
Renewal of District Audit Services with Grau & Associates
STAFF RECOMMENDATION
Staff recommends the Board of Supervisors approve first one-year renewal of District Audit Services with Grau & Associates.
GENERAL INFORMATION
On November 7, 2023, the Ave Maria Stewardship Community District Board of Supervisors selected Grau & Associates to provide District auditing services in accordance with the processes outlined in the District’s Rules of Procedure and Section 218.391, Florida Statutes. It should be noted that only two firms, DiBartolomeo, McBee, Hartley, & Barnes and Grau & Associates, responded to the District’s Request for Proposals to provide the District’s annual audit in accordance with the requirements of Chapter 218, Florida Statutes. The initial engagement letter dated December 18, 2023, attached herein, includes Grau & Associates services for fiscal years ending September 30, 2023, 2024, and 2025 with an option for two additional one-year renewals (2026 and 2027).
Staff has been pleased with Grau & Associates, and additionally they are one of the limited firms who regularly provide this service to special districts in Florida. Staff recommends the Board of Supervisors authorize staff to renew the agreement for one additional year to prepare the audit for the District for fiscal year ending 2026. Should the Board approve the one-year renewal, staff will request an engagement letter from Grau & Associates for a fee not to exceed $18,900, in accordance with the terms of the initial engagement letter.
DISTRICT ENGINEER REVIEW
Not applicable.

DISTRICT LEGAL COUNSEL REVIEW
District Legal Counsel will review the engagement letter for legal form and sufficiency, if authorized by the Board to renew the agreement.
FUNDING REVIEW
Funding source is FY 2026-2027 Budget.
1

CERTIFIED PUBL

Grau & Associates

951 Yamato Road• Suite 280 Boca Raton, Florida 33431
(561) 994-9299 • (800) 299-4728
Fax(561)994-5823
www.graucpa.com

December 18, 2023
To Board of Supervisors
Ave Maria Stewardship Community District 2501 A Burns Road
Palm Beach Gardens, FL 33410

We are pleased to confirm our understanding of the services we are to provide Ave Maria Stewardship Community Dfstrict, Collier County, Florida ("the District'') for the fiscal years ended September 30, 2023, 2024, 2025 with an option for two additional one-year renewals. We wlll audit the financial statemen1s of the governmental activities, the business type activities, and each major fund, including the related notes to the financial statements, which collectively compr1se the basic financial statements of Ave Maria Stewardship Community District as of and for the fiscal years ended September 30, 2023, 2024, 2025 with an option for two one-year renewals. Inaddition, we will examine the District's compHance with the requirements of Section 218.415 Florida Statutes.
Accounting principles generally accepted in the United States of America provide for certain required supplementary information (RSI), such as management's discussion and analysis (MD&A), to supplement the District's basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Account!ng Standards Board who constders it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. As part of our engagement, we will apply certain limited procedures to the District's RSI in accordance with auditing standards generally accepted in the United States of America. These limited procedures will consist of inquiries of management regarding the methods of preparing the information and comparing the information for consistency wfth management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We will not express an opinion or provide any assurance on the information because the limited procedures do not provide us With sufficient evidence to express an opinion or provide any assurance.
The following RSI is required by generally accepted accounting principles and will be subjected to certain limited procedures, but will not be audited:
Management's Discussion and Analysis
Budgetary comparison schedule
The following other information accompanying the financial statements will not be subjected to the auditing procedures applied in our audit of the financial statements, and our auditor's report will not provide an opinion or any assurance on that information:
Compliance with FL Statute 218.39 (3) (c)
Audit Objectives
The objective of our audit is the expression of opinions as to whether your finan6al statements are fairly presented, in all material respects, in conformity with U.S. generally accepted accounting principles and to report on the fairness of the supplementary information referred to in the second paragraph when considered in relation to the financial statements as a whole. Our audlt will be conducted in accordance with auditing standards generally accepted in the Unlted States of America and the standards for financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, and will include tests of the accounting records of the District and other procedures we consider necessary to enable us to express such opinions. We will issue a written report upon completion of our audit of the District's financial statements. We cannot provide assurance that an unmodified opinion will be expressed. Circumstances may arise in which it is necessary for us to modify our opinion or add emphasis-of-matter or other-matter paragraphs. If our opinion on the financial statements Is other than unmodified, we will discuss the reasons with you in advance. If, for any reason, we are unable to complete the audit or are unable to form or have not formed an opinion, we may decline to express an opinion or issue a report, or may withdraw from this engagement.
We will also provide a report (that does not include an opinion) on Internal control related to the financial statements and compliance with the provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a material effect on the financial statements as required by Government Auditing Standards. The report on internal control and on compliance and other matters will include a paragraph that states (1) that the purpose of the report is solely to describe the scope of testing of internal control and compliance, and the results of that testing, and not to provide an opinton on the effectiveness of the District's internal control on compliance, and (2) that the report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District's internal control and compliance. The paragraph will also state that the report is not suitable for any other purpose. If durtng our audit we become aware that the District is subject to an audit requirement that is not encompassed in the terms of this engagement, we will communicate to management and those charged with governance that an audit in accordance with U.S. generally accepted auditing standards and the standards for financial audfts contained in Government Auditing Standards may not satisfy the relevant legal, regulatory, or contractual requirements.

Ave Marla Stewardship Community District	2

Examination Objective
The objectfve of our examination is the expression of an opinion as to whether the District is in compliance Wfth Florida S1atute
218.415 in accordance with Rule 10.556(10) of the Auditor General of the State of Florida. Our examination will be conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and will include tests of your records and other procedures we consider necessary to enable us to express such an opinion. We will issue a written report upon completion of our examination of the District's compliance. The report will include a statement that the report Is rntended solely for the information and use of management, those charged with governance, and the Florida Auditor General, and is not intended to be and should not be used by anyone other than these specified parties. We cannot provide assurance that an unmodified opinion will be expressed. Ctrcumstances may arise in which it is necessary for us to modify our opinion or add emphasis-of-matter or other-matter paragraphs. If our opinion on the District's compliance is other than unmodified, we will discuss the reasons with you in advance. If, for any reason, we are unable to complete the examination or are unable to form or have not formed an opinion, we may decline to express an opinion or issue a report, or may withdraw from this engagement.
Other Services
We will assist in prepartng the financial statements and related notes of the District in conformity with U.S. generally accepted accounting principles based on information provided by you. These nonaudit services do not constitute an audlt under Government Auditing Standards and such services will not be conducted in accordance with Government Auditing Standards. The other services are limited to the financial statement services previously defined. We, ih our sole professional judgment, reserve the right to refuse to perform any procedure or take any aclion that could be construed as assuming management
responsibilities.
Management Responsibilities
Management is responsible for compliance with Florida Statute 218.415 and will provide us with the information required for the examination. The accuracy and completeness of such informaHon is also management's responsibility. You agree to assume all management responsibilities relating to the financial statements and related notes and any other nonaudit services we provide You will be required to acknowledge in the management representation letter our assistance with preparation of the financial statements and related notes and that you have reviewed and approved the financial statements and related notes prior to their issuance and have accepted responsibility for them. In addition, you Wilf be requJred to make certain representations regarding compliance with Florida Statute 218.415 in the management representation letter. Further, you agree to oversee the nonaudlt services by designating an individual, preferably from senior management, who possesses suitable sklll, knowledge, or experience: evaluate the adequacy and results of those services: and accept responsibility for them.
Management is responsible for designing, implementing and maintaining effective internal controls, including evaluating and monitoring ongoing activities, to help ensure that appropriate goals and objectives are met: following laws and regulations: and ensuring that management and financial information is reliable and properly reported. Management is also responsible for implementing systems designed to achieve compliance with applicable laws, regulations, contracts, and grant agreements. You are also responsible for the selection and application of accounting principles, for the preparation and fair presentation of the financial statements and all accompanying information in conformity with U.S. generally accepted accounting principles, and for compliance with applicable laws and regulations and the provisions of contracts and grant agreements.
Management is also responsible for making all financial records and related information available to us and for the accuracy and completeness of that Tnformatlon. You are also responsible for providing us with (1) access to all information of which you are aware that is relevant to the preparation and fair presentation of the financial statements, (2) additional information that we may request for the purpose of the audit, and (3) uorr;:stricted access to persons within the government from whom we determine it necessary to obtain audit evidence.
Your responsibilities include adjusting the financial statements to correct material misstatements and for confirming to us in the written representation letter that the effects of any uncorrected misstatements aggregated by us durlng the current engagement and pertaining to the latest period presented are immaterial, both individually and In the aggregate, to the financial statements taken as a whole.
You are responsible for the design and implementation of programs and controls to prevent and detect fraud, and for informing us about all known or suspected fraud affecting the government involving (1) management, (2) employees who have significant roles in internal control, and (3) others where the fraud could have a material effect on the financial statements. Your responsibilities include informing us of your knowledge of any allegations of fraud or suspected fraud affecting the government received in communications from employees, former employees, granters, regulators, or others. In addition, you are responsible for identifying and ensuring that the government complies with applicable laws, regulations, contracts, agreements, and grants and for taking timely and appropriate steps to remedy fraud and noncompliance with provisions of laws, regulations, contracts or grant agreements, or abuse that we report.
Management is responsible for establishing and maintaining a process for tracking the status of audit findings and recommendations. Management is also responsible for identifying and providing report copies of previous financial audits, attestation engagements, performance audits or other studies related to the objectives discussed in the Audit Objectives section of this letter. This responsibility includes relaying to us corrective actions taken to address significant findings and recommendations resulting from those audits, attestation engagements, performance audits, or other studies. You are also responsible for providing management's views on our current findings, conclusions, and recommendations, as well as your planned corrective actions, for the report, and for the timing and format for providing that information,
With regard to t/;le electronic dissemination of audited financial statements, including financial statements published electronically on your website, you understand that electronic sites are a means to distribute information and, therefore, we are not required to read the information contained in these sites or to consider the consistency of other information in the electronic site with the original document.	Page 101

Ave Maria Stewardship Community District	3

Audit Procedures-General
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; therefore, our audit will involve judgment about the number of transactions to be examined and the areas to be tested. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements_We will plan and perform the audit to obtain reasonable rather than absolute assurance about whether the financial statements are free of material misstatement whether from (1) errors, (2) fraudulent financial reporting, (3) misapproprTation of assets, or (4) violations of laws or governmental regulations that are attributable to the government or to acts by management or employees acting on behalf of the government. Because the determinatfon of abuse is subjective, Govemment Auditing Standards do not expect auditors to provide reasonable assurance of detecting abuse,
Because of the inherent limitations of an audit, combined with the inherent limitations of internal control, and because we will not perform a detailed examination of all transactions, there is a risk that material misstatements may exist and not be detected by us, even though the audit is properly planned and performed in accordance with U.S. generally accepted auditlng standards and Government Auditing Standards. In addition, an audit is not designed to detect immaterial misstatements or violattons of laws or governmental regulations that do not have a direct and material effect on the financial statements. Our responsibility as auditors is limited to the period covered by our audit and does not extend to later periods for which we are not engaged as auditors.
Our procedures Will include tests of documentary evidence supporting the transactions recorded in the accounts, and may include tests of the physical existence of inventories,and direct confirmation of receivables and certain otherassels and liabilities by correspondence with selected individuals, funding sources, creditors, and financial institutions. We will request written representations from your attorneys as part of the engagement, and they may bill you for responding to this inquiry. At the conclusion of our audit, we will require certafn written representations from you about your responsibilities for the financial statemehts; compliance wfth laws, regulations, contracts, and grant agreements: and other responsibilities required by generally accepted auditing standards.
Audit Procedures-Internal Control
Our audit wfll include obtaining an understanding of the government and its environment, including internal control, sufficient to assess the risks of material misstatement of the financial statements and to design the nature. tfmfng, and extent offurther audit procedures. Tests of controls may be performed to test the effectTveness of certain controls that we consider relevant to preventing and detecting errors and fraud that are material 1o the financial statements and to preventing and detecting misstatements resulting from illegal acls and other noncompliance matters that have a direct and material effect on the financial statements. Our tests, if performed, will be less in scope than would be necessary to render an opinion on internal control and, accordingly, no opinion will be expressed in our report on internal control issued pursuant to Government Auditing Standards.
An audit is not designed to provide assurance on internal control or to Identify significant deficiencies or material weaknesses. However, during the audit, we will communicate to management and those charged with governance internal control related matters that are required to be communicated under AICPA professional standards and Government Auditing Standards.
Audit Procedures-Compliance
As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we will perform tests of the District's compliance with the provisions of applicable laws, regulations, contracts, agreements, and grants. However. the objective of our audit will not be to provide an opinion on overall compliance and we will not express such an oplnfon in our report on compliance issued pursuant to Government Auditing Standards
Engagement Administration, Fees, and Other
We understand that your employees will prepare all confirmations we request and will locate any documents selected by us for testing.
The audit documentation for this engagement is the property of Grau & Associates and constitutes confidential information. However, subject to applicable laws and regulations, audit documentation and appropriate individuals will be made available upon request and in a timely manner to a cognizant or oversight agency or its desi9nee, a federal agency providing direct or indirect funding, or the U.S. Government Accountability Office for purposes of a quality review of the audit, to resolve audit findings, or to carry out oversight responsibilities. We will notify you of any such request. If requested, access to such audit documentation will be provided under the supervision of Grau & Associates personnel. Furthermore, upon request, we may provide copies of selected audit documentation to the aforementioned parties. These parties may intend, or decide, to distrfbute the copies or information contained therein to others, including other governmental agencies. Notwithstanding the foregoing, the parties acknowledge that various documents reviewed or produced durlng the conduct of the audit may be public records under Florida law, The District agrees to notify Grau & Associates of any public record request it receives that involves audit documentation.
Our fee for these services will not exceed $18,000, $18,300, and $18,600 for the September 30, 2023, 2024, 2025 audits, respectively, unless there is a change in activity by the District which results in additional audit work or 1f additional Bonds are issued.. The fees for the two additional annual renewals for the fiscal years 2025 and 2026 will not exceed $18,900 and $19,200, respectively, unless there is a change in activity by the District which results Tn additional audit work or if additional Bonds are issued.
We will complete the audit within prescribed statutory deadlines, witli the understanding that your employees will provide information needed to perform the audit on a timely basis.

Ave Maria Stewardship Community District	4

The audit documentation for this enga_gement will be retained for a minimum offlve years after the report release date. If we are aware that a federal awarding agency or auditee is contesting an audit finding, we will contact the party(ies) contesting the audit finding for guidance pdor to destroying the audit documentation.

Our invoices for these fees will be rendered each month as work progresses and are payable on presentation. Invoices will be submitted in sufficient detail to demonstrate compliance with the terms of this agreement. In accordance with our firm policies, work may be suspended if your account becomes 60 days or more overdue and may not be resumed until your account is paid in full. If we elect to term1nate our services for nonpayment, our engagement will be deemed to have been completed upon written notification of termination, even if we have not completed our report. You will be obligated to compensate us for all time expended and to reimburse us for all out-of-pocket costs through the date of termination. The above fee is based on anticipated cooperation from your personnel and the assumption that unexpected circumstances will not be encountered durlng the audlt, If significant additional time is necessary, we will discuss it with you and arrive at a new fee estimate.

This agreement is automatically renewed each year thereafter subject to the mutual agreement by both parties to all terms and fees. The fee for each annual renewal will be agreed upon separately.

The District has the option to terminate this agreement with or Without cause by providing thirty (30) days written notice of termination to Grau & Associates. Upon any termination of this agreement, Grau & Associates shall be entitled to payment of all work and/or services rendered up until the effective termination of this agreement, subject to whatever claims or off-sets the District may have against Grau & Associates.

We will provide you with a copy of our most recent external peer review report and any letter of comment, and any subsequent peer review reports and letters of comment received during the period of the contract. Our 2023 peer review report accompanies this letter.

We appreciate the opportunity to be of service to Ave Maria Stewardship Community District and believe this letter accurately summarizes the significant terms of our engagement. If you have any questions. please let us know_If you agree with the terms of our engagement as described in this fetter, please sign the enclosed copy and return it to us.
Very truly yours, Grau & Associates

Antonfo J. Grau

RESPONSE:
This letter correctly sets forth the understanding of Ave Maria Stewardship Community District.

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Ave Maria Stewardship Community District	5

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Program

PA	JJ_AICPA"	Peer Review

FICP.a i.>ec!H R., iew Program AJr ,nisr,;red 1n Fic;rida
Tne .::tcnda lns1itu e '• -� .i

AICPA Peer Review Program Administered in Florida
by the Florida Institute of CPAs

March 17, 2023

Antonro Grau Grau & Associates
951 Yamato Rd Ste 280 Boca Raton, FL 33431-1809

Dear Antonio Grau:

It is my pleasure to notify you that on March 16, 2023, the Florida Peer Review Committee accepted the report on the most recent System Review of your firm. The due date for your next review is December 31, 2025. This is the date by which all review documents should be completed and submrtted to the administering entity.
AJ3 you know, the report had a peer review rating of pass. The Committee asked me to convey Its congratulations to the firm.

Thank you for your cooperation. Sincerely,

Peer Review Team
FICPA Peer Review Committee 850.224.2727, x5957
cc: Daniel Hevia, Racquel McIntosh
Firm Number: 900004390114	Review Number: 594791

Ave Maria
Stewardship Community District

MEMORANDUM

To:	Board of Supervisors
From: Allyson Holland, P.E., District Manager
Date: July 28, 2026

Board Meeting Date:	August 4, 2026

SUBJECT

Temporary License Agreement with Publix Super Markets, Inc. for Construction Dumpster Storage on District Property

STAFF RECOMMENDATION

Staff recommends approval of the Temporary License Agreement with Publix Super Markets, Inc. for construction dumpster storage on District property.

GENERAL INFORMATION
Publix Super Markets, Inc. (Publix) is preparing to begin the remodel of the commercial space formerly occupied by Mercato at Ave on Pope John Paul II Blvd for the new Publix Liquor Store. Publix requested to place the construction dumpster in two angled parking spaces on Pope John Paul II Blvd for approximately 90 days. The two parking spaces are located directly in front of the future Publix Liquor store (see site plan on next page). Note that the Publix Super Market parking lot is NOT adjacent to the proposed liquor store. District staff reviewed alternative locations for the dumpster, but the angled parking spaces are the most feasible location.

District legal counsel prepared a License Agreement with Publix for the construction dumpster storage on District property. Should the Board agree to the dumpster storage location and approve the License Agreement, staff will work with Publix to ensure that the asphalt is protected by requiring wood planks or two-by-fours be placed under the dumpster. Publix will also be responsible for replacing the asphalt if it is damaged.

Ave Maria
Stewardship Community District

MEMORANDUM

Site plan provided by Publix:

PROCUREMENT REVIEW

Not applicable.

DISTRICT ENGINEER REVIEW

The District Engineer has reviewed and approved the License Agreement.

Ave Maria
Stewardship Community District

MEMORANDUM

DISTRICT LEGAL COUNSEL REVIEW

The District Legal Counsel has reviewed and approved the License Agreement.

FUNDING REVIEW
Not applicable Attachment

TEMPORARY LICENSE AGREEMENT BY AND BETWEEN THE AVE MARIA STEWARDSHIP COMMUNITY DISTRICT AND PUBLIX SUPER MARKETS, INC., REGARDING THE USE OF CERTAIN DISTRICT PROPERTY

This License Agreement (the “License Agreement”) is made and entered into this
	 day of August, 2026, by and between:

Ave Maria Stewardship Community District, a local unit of special-purpose government established pursuant to Chapter 2004-461, Laws of Florida, as amended, with a mailing address of 2501A Burns Road, Palm Beach Gardens, Florida 33410 (the “District”); and

Publix Super Markets, Inc., a Florida corporation, with a mailing address of 3300 Publix Corporate Parkway, Lakeland, Florida 33811 (the “Licensee”).

RECITALS

Whereas, the District is a local unit of special-purpose government established pursuant to and governed by Chapter 2004-461, Laws of Florida, as amended (the “Act”); and

Whereas, the District owns, operates, and maintains certain facilities and real property within the boundaries of the District (the “District Property”); and
WHEREAS, Licensee is renovating a commercial facility (the “Project”) and desires to store a construction dumpster, which shall include construction debris (the “Construction Dumpster” or “Construction Materials”) on the District Property as depicted in Exhibit A (the “Storage Location”); and
Whereas, the District is willing to allow the Licensee to store the Construction Materials in the Storage Location subject to the terms set forth in this License Agreement; and

Whereas, the District and the Licensee warrant and agree that they have all right, power, and authority to enter into and be bound by this License Agreement.
Now, therefore, based upon good and valuable consideration and the mutual covenants of the parties, the receipt and sufficiency of which are hereby acknowledged, the District and Licensee agree as follows:
RECITALS. The recitals so stated are true and correct and by this reference are incorporated into and form a material part of this License Agreement.

GRANT OF LICENSE. The District hereby grants to the Licensee a non-exclusive license to store Construction Materials in the Storage Location as depicted in Exhibit A, (the “License”), pursuant to the terms set forth in this License Agreement.

Conditions on the License. The License granted in Section 2, above, is subject to the following terms and conditions:

Licensee’s access to the Storage Location is limited to the Storage Location and reasonable ingress and egress thereto as set forth in this License Agreement. Prior to its use of the License granted herein, Licensee shall meet with on-site District staff to confirm the exact Storage Location.

Licensee shall routinely monitor the Storage Location and surrounding areas in order to maintain the Storage Location and surrounding areas in good, clean and working order.

Upon notice to the Licensee by the District staff, Licensee shall relocate the Construction Materials to a new location on the District Property selected by the District staff.

Licensee shall place the Construction Dumpster on two-by-four pieces of wood, wooden planks, or ¾” plywood, at the discretion of District staff, to avoid any damage to the underlying asphalt. Construction Dumpster shall at no time be placed on or otherwise make contact with the underlying asphalt.

Licensee shall provide photographs of the Storage Location pre and post-placement of the Construction Dumpster to the District for use in reviewing any damage to the Storage Location. Licensee shall be specifically responsible for replacing any asphalt that is damaged as a result of the use of the License Agreement including placement of the Construction Dumpster to the satisfaction of the District in its sole discretion. Any repairs to the asphalt must be completed by Licensee, at Licensee’s sole cost and expense, within ten (10) days notification by the District of damage to the District Property. Nothing herein shall otherwise limit remedies of the District pursuant to this License Agreement including but not limited to Paragraph 7 herein.
EFFECTIVE TERM. This License Agreement shall become effective as of August 4, 2026 and shall continue in full force and effect until November 2, 2026. Upon termination of this License Agreement, Licensee shall remove the Construction Materials from the Storage Location and return the Storage Location to the condition it was in prior to the granting of this License.
Revocation, Suspension and Termination. The District and the Licensee acknowledge and agree that the License granted herein is a mere privilege and may be suspended or revoked, with or without cause, at the sole discretion of the District. In the event the District exercises its right to suspend or revoke the License, the District shall provide Licensee with written notice of the same, which shall be effective immediately upon receipt by Licensee. Licensee may terminate this License Agreement upon thirty (30) days written notice to the District. Upon any termination, Licensee shall remove the Construction Materials from the Storage Location and return the Storage Location to the condition it was in prior to the granting of this License. This

License Agreement shall automatically terminate upon the completion of the Project and restoration of the Storage Location to the District’s satisfaction in its sole discretion.

Compliance with Laws, Rules and Policies. Licensee shall comply at all times with relevant statutes, laws, ordinances and regulations governing the storage and operation of the Construction Materials on the District Property and any other equipment used in relation to the License and shall, upon request of the District, provide proof of such compliance. Licensee shall comply in all material respects with the District’s Rules and Policies and acknowledges that it has received a copy of such Rules and Policies.

CARE OF PROPERTY. Licensee agrees to use all due care to protect the property of the District, its residents and guests from damage. Licensee shall assume responsibility for any and all damage to any real or personal property of the District or any third parties as a result of the Licensee’s use of the Storage Location under this License Agreement. Licensee shall repair any damage resulting from its use of the License granted herein, including but not limited to storage, operation, and management of the Construction Materials and any other equipment used in relation to the License, within twenty-four (24) hours of the event causing such damage. Any such repairs shall be at Licensee’s sole expense, unless otherwise agreed, in writing by the District. The provisions of this Paragraph 7 shall survive the termination or expiration of this License Agreement.

Indemnification.

Obligations under this paragraph shall include the payment of all settlements, judgments, damages, liquidated damages, penalties, fines, forfeitures, back pay awards, court costs, arbitration and/or mediation costs, litigation expenses, reasonable attorneys’ fees and paralegal fees (incurred in court, out of court, on appeal, or in bankruptcy proceedings), as ordered.
Licensee will defend, indemnify, save and hold the District, and its supervisors, staff, and assigns (“District Indemnitees”) harmless from all loss, damage or injury, including all judgments, liens, liabilities, debts and obligations resulting from the acts or omissions of Licensee, its members, managers, agents, assigns or employees.

For purposes of this section, “acts or omissions” on the part of Licensee and its members, managers, agents, assigns or employees, includes, but is not limited to, the storage, operation and management of the Construction Materials and any other equipment used in relation to the License in a manner that would require a permit, license, certification, consent, or other approval from any governmental agency which has jurisdiction over such Construction Materials and equipment, unless such permit, license, certification, consent, or other approval is first obtained.

The indemnification rights herein contained shall be cumulative of, and in addition to, any and all rights, remedies and recourse to which the District shall be

entitled, whether pursuant to some other provision of this License Agreement, at law, or in equity. The provisions of this Paragraph 8 shall survive the termination or expiration of this License Agreement.

Insurance.

Licensee shall maintain throughout the term of this Agreement the following insurance:

Worker’s Compensation Insurance in accordance with the laws of the State of Florida.

Commercial General Liability Insurance covering Licensee’s legal liability for bodily injuries, with limits of not less than $1,000,000 (one million dollars) combined single limit bodily injury and property damage liability, and covering at least the following hazards: Independent Contractors’ Coverage for bodily injury and property damage in connection with any subcontractors’ operation.

Employer’s Liability Coverage with limits of at least $1,000,000 (one million dollars) per accident or disease.

Automobile Liability Insurance for bodily injuries in limits of not less than $1,000,000 (one million dollars) combined single limit bodily injury and for property damage, providing coverage for any accident arising out of or resulting from the operation, maintenance, or use by Licensee of any owned, non-owned, or hired automobiles, trailers, or other equipment required to be licensed.
The District, its staff, consultants and supervisors shall be named as additional insured parties. Licensee shall furnish the District with the Certificate of Insurance evidencing compliance with this requirement upon execution of this License Agreement. No certificate shall be acceptable to the District unless it provides that any change or termination within the policy periods of the insurance coverages, 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, and such carrier shall have a Best’s Insurance Reports rating of at least A-VII.

Recovery of Costs and Fees. In the event either party is required to enforce this License Agreement by court proceedings or otherwise, then the substantially prevailing party shall be entitled to recover from the other party all fees and costs incurred, including reasonable attorneys’ fees and costs.

DEFAULT. A default by either party under this License Agreement shall entitle the other party to all remedies available at law or in equity, which includes, but is not limited to, the rights of damages, injunctive relief, and specific performance.

Entire Agreement. This instrument shall constitute the final and complete expression of the agreement between the parties relating to the subject matter of this License Agreement.

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

ASSIGNMENT. Neither the District nor the Licensee may assign its rights, duties or obligations under this License Agreement without the prior written approval of the other. Any purported assignment without said written authorization shall be void.

Independent Contractor. In all matters relating to this License Agreement, Licensee shall act as an independent contractor. Neither Licensee nor any individual employed by Licensee in connection with the use of the License granted herein is an employee of the District under the meaning or application of any federal or state laws. Licensee agrees to assume all liabilities and obligations imposed by one or more of such laws with respect to its employees in the use of the License. Licensee shall have no authority to assume or create any obligation, express or implied, on behalf of the District and Licensee shall have no authority to represent the District as agent, employee or in any other capacity.
NOTICES. All notices, requests, consents, and other communications hereunder (“Notice” or “Notices”) shall be in writing and shall be delivered, mailed by overnight courier or First Class Mail, postage prepaid, to the parties as follows:

If to the 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 Licensee:	Publix Super Markets, Inc.
3300 Publix Corporate Parkway Lakeland, Florida 33811
Attn: Christy Holbrook

Except as otherwise provided in this License 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 License 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 Licensee may deliver Notice on behalf of the District and the Licensee. 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.

Interference by Third Party. The District shall be solely responsible for enforcing its rights under this License Agreement against any interfering party. Nothing contained herein shall limit or impair the District’s right to protect its rights from interference by a third party to this License Agreement.

PUBLIC RECORDS. Licensee acknowledges and agrees that all documents of any kind relating to this License Agreement may be public records and shall be treated as such in accordance with Florida law.

Controlling Law and Venue. This License Agreement and the provisions contained herein shall be construed, interpreted, and controlled according to the laws of the State of Florida. The parties agree that venue for any action arising hereunder shall be in a court of appropriate jurisdiction in Collier County, Florida.
Arm’s Length Negotiation. This License Agreement has been negotiated fully among the parties as an arm’s length transaction. The parties participated fully in the preparation of this License Agreement and received, or had the opportunity to receive, the advice of counsel. In the case of a dispute concerning the interpretation of any provision of this License Agreement, the parties are deemed to have drafted, chosen and selected the language and any doubtful language will not be interpreted or construed against any party.

Third Party Beneficiaries. This License Agreement is solely for the benefit of the parties hereto and no right or cause of action shall accrue upon or by reason of, to or for the benefit of, any third party not a formal party to this License Agreement. Nothing in this License Agreement expressed or implied is intended or shall be construed to confer upon any person or legal entity other than the parties hereto any right, remedy or claim under or by reason of this License Agreement or any of the provisions or conditions of this License Agreement; and all of the provisions, representations, covenants and conditions contained in this License Agreement shall inure to the sole benefit of and be binding upon the parties hereto and their respective representatives, successors and assigns.

AUTHORIZATION. The execution of this License Agreement has been duly authorized by the appropriate body or official of each of the parties hereto, each of the parties has

complied with all the requirements of law and each of the parties has full power and authority to comply with the terms and conditions of this License Agreement.

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

Headings for Convenience Only. The descriptive headings in this License Agreement are for convenience only and shall not control or affect the meaning or construction of any of the provisions of this License Agreement.

26. COUNTERPARTS. This License Agreement 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.

25. Sovereign  Immunity.  The District and Licensee agree that nothing in this Agreement shall constitute or be construed as a waiver of the District’s limitations on liability contained in Section 768.28, Florida Statutes.

[remainder of page intentionally left blank]
Executed in the presence of:	AVE MARIA STEWARDSHIP COMMUNITY DISTRICT

Print Name: 			Chairperson, Board of Supervisors Address: 	

Print Name: 		 Address: 	

PUBLIX SUPER MARKETS, INC.

By: 	 Print Name: 		  Print Name: 	 Address: 	  Its: 	

Print Name: 		 Address: 	

Exhibit A: Storage Location

Exhibit A Storage Location

Durbin South Amenity Center Parking Lot

Ave Maria Stewardship Community District
Budget vs. Actual
October 2025 through June 2026

	Oct 25 - Jun 26		25/26 Budget		$ Over Budget		% of Budget	
Expenditures								
01-1130	Payroll Tax Expense	443.70		734.00		-290.30		60.45%	
01-1131	Supervisor Fees	5,800.00		9,600.00		-3,800.00		60.42%	
01-1310	Engineering	95,187.50		110,000.00		-14,812.50		86.53%	
01-1311	Management Fees	55,125.00		73,500.00		-18,375.00		75.0%	
01-1313	Website Management	1,874.97		2,500.00		-625.03		75.0%	
01-1314	District Manager - on site	220,500.00		294,000.00		-73,500.00		75.0%	
01-1315	Legal Fees	89,307.66		100,000.00		-10,692.34		89.31%	
01-1320	Audit Fees	7,000.00		18,600.00		-11,600.00		37.63%	
01-1330	Arbitrage Rebate Fee	2,600.00		5,550.00		-2,950.00		46.85%	
01-1440	Rents & Leases	11,100.00		14,400.00		-3,300.00		77.08%	
01-1441	Travel & Lodging	8,947.64		10,000.00		-1,052.36		89.48%	
01-1450	Insurance	124,304.00		120,000.00		4,304.00		103.59%	
01-1480	Legal Advertisements	7,078.08		8,000.00		-921.92		88.48%	
01-1512	Miscellaneous	3,404.67		10,000.00		-6,595.33		34.05%	
01-1513	Postage and Delivery	2,532.72		3,000.00		-467.28		84.42%	
01-1514	Office Supplies	1,051.30		3,500.00		-2,448.70		30.04%	
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	25,191.13		50,000.00		-24,808.87		50.38%	
01-1734	Continuing Disclosure Fee	11,000.00		12,000.00		-1,000.00		91.67%	
01-1735	Assessment Roll	0.00		25,000.00		-25,000.00		0.0%	
01-1890	Reserve Expenditure	0.00		350,000.00		-350,000.00		0.0%	
01-1891	Net Change To Reserve Balance	0.00		529,562.00		-529,562.00		0.0%	
02-001 • Landscape & Irrig MTE Cont	692,748.79		1,050,000.00		-357,251.21		65.98%	
02-002 • Plant Replacement	110,092.62		200,000.00		-89,907.38		55.05%	
02-003 • Mulch & Pinestraw	86,900.00		175,000.00		-88,100.00		49.66%	
02-004 • Tree Trimming	40,670.35		80,000.00		-39,329.65		50.84%	

Ave Maria Stewardship Community District
Budget vs. Actual
October 2025 through June 2026

	Oct 25 - Jun 26		25/26 Budget		$ Over Budget		% of Budget	
02-005 • Irrigation Repairs	212,665.76		215,000.00		-2,334.24		98.91%	
02-006 • Annual Flowers	62,467.26		80,000.00		-17,532.74		78.08%	
02-007 • Misc Landscaping	41,345.83		50,000.00		-8,654.17		82.69%	
02-008 • Electricity	89,358.80		150,000.00		-60,641.20		59.57%	
02-009 • Street Light Maint	84,709.61		140,000.00		-55,290.39		60.51%	
02-010 • Sidewalk, Curb, Paver Repair	38,668.00		100,000.00		-61,332.00		38.67%	
02-011 • Asphalt Repairs	16,509.33		75,000.00		-58,490.67		22.01%	
02-012 • Striping & Traffic Markings	11,000.00		50,000.00		-39,000.00		22.0%	
02-013 • Street Signs	25,191.00		35,000.00		-9,809.00		71.97%	
02-014 • Street Sweeping	26,100.00		36,000.00		-9,900.00		72.5%	
02-015 • Stormwater Drain Repair	32,657.14		50,000.00		-17,342.86		65.31%	
02-016 • Storm Drain Cleaning	3,560.00		50,000.00		-46,440.00		7.12%	
02-017 • Lake MTE - Littoral & Banks	49,341.25		80,000.00		-30,658.75		61.68%	
02-018 • Preserve MTE	48,207.00		115,000.00		-66,793.00		41.92%	
02-019 • Pressure Washing	47,367.75		65,000.00		-17,632.25		72.87%	
02-020 • Fountain MTE Repair	0.00		50,000.00		-50,000.00		0.0%	
02-021 • Dog Waste Stations & Trash	2,591.81		6,000.00		-3,408.19		43.2%	
02-022 • Small Tools	2,057.85		5,000.00		-2,942.15		41.16%	
02-023 • Vehicle Fuel & MTE	6,299.21		10,000.00		-3,700.79		62.99%	
02-024 • Rodent & Pest Control	10,950.00		20,000.00		-9,050.00		54.75%	
02-025 • Misc MTE & Repairs	33,155.19		55,000.00		-21,844.81		60.28%	
02-026 • Christmas Lights	23,500.00		23,500.00		0.00		100.0%	
02-027 • Asset Mgt Support & Softw	67,574.05		140,000.00		-72,425.95		48.27%	
02-028 • Professional Services	23,467.95		70,000.00		-46,532.05		33.53%	
02-029 • Security Cameras	137,892.85		250,000.00		-112,107.15		55.16%	
02-030 • Roundabout Uplighting	62,500.00		76,000.00		-13,500.00		82.24%	
02-031 • Crosswalk Enhancements	59,840.00		100,000.00		-40,160.00		59.84%	
02-032 • Streetlight Numbering	4,422.00		10,000.00		-5,578.00		44.22%	

Ave Maria Stewardship Community District
Budget vs. Actual
October 2025 through June 2026

	Oct 25 - Jun 26		25/26 Budget		$ Over Budget		% of Budget	
02-033 • Entry Feature Water	4,548.40		9,400.00		-4,851.60		48.39%	
02-034 • Irrigation Water	100,801.76		140,000.00		-39,198.24		72.0%	
02-035 • Admin Office Rent & Supplies	0.00		9,600.00		-9,600.00		0.0%	
02-036 • Office Rent & Supplies	10,209.85		26,000.00		-15,790.15		39.27%	
02-037 • Cable Phone Modems	6,917.26		10,000.00		-3,082.74		69.17%	
02-038 • Base Mgmt Fee FSR	4,500.00		6,000.00		-1,500.00		75.0%	
02-039 • Storm Cleanup & Repairs	0.00		112,500.00		-112,500.00		0.0%	
02-041 • Operations Team Salaries	363,825.00		485,100.00		-121,275.00		75.0%	
Total Expenditures	3,317,237.04		6,161,046.00		-2,843,808.96		53.84%