Minutes of Meeting
Rivers Edge

Community Development District

The  regular  meeting  of the  Board  of  Supervisors  of the  Rivers  Edge  Community

Development District was held Wednesday, September 12, 2018 at 6:00 p.m. at the RiverTown

Amenity Center, 156 Landing Street, St. Johns, Florida.

Present and constituting a quorum were:

Jason Sessions	Chairman

Tara Jinks	Vice Chair
Judy Long	Supervisor

Charles Oates	Supervisor

Also present were:

Jim Perry	District Manager
Jennifer Kilinski	District Counsel

Ryan Stillwell	District Engineer
Ernesto Torres	GMS

Dan Fagan	Vesta
Jason Davidson	Vesta

Robert Beladi	Vesta
Justin Rowan	MBS Capital Markets, LLC

Several Residents

The following is a summary of the discussions and actions taken at the September 12,

2018 meeting.  A copy of the proceedings can be obtained by contacting the District Manager.

FIRST ORDER OF BUSINESS	Roll Call

Mr. Perry called the meeting to order at 6:00 p.m. and called the roll.

SECOND ORDER OF BUSINESS	Audience Comments

A resident stated at prior meetings I mentioned dog stations.

Mr. Sessions stated you did mention that and I dropped the ball, I will get with our team

and see what their thoughts are and get you some feedback by the next meeting.

September 12, 2018	Rivers Edge CDD

THIRD ORDER OF BUSINESS	Affidavit of Publication

A copy of the affidavit of publication for the public hearing was included in the agenda package.

FOURTH ORDER OF BUSINESS	Consideration  of  Supplemental  Assessment
Resolution 2018-16

Ms. Kilinski stated this is the final step in the process for the 2018A-1 and A-2 refunding bonds that we have talked about at the last several meetings. The District now has the official bond pricing now and the corresponding reduction in the assessments that are anticipated as a result of the refunding. This assessment resolution sets the terms for the bonds and the amount of assessments that will be allocated to each of the 468 units that are part of this 2018A-1 and A-2 assessment area. The resolution sets forth the prior findings that we talked about before, it covers the history of the bonds previously issued and sets forth the specific terms of the refunding bonds being issued in the amount of $3.94 million for the 2018A-ls and $2,335,000 for the 2018A-2s. It makes certain findings regarding the supplemental assessment methodology that you have seen and is in your agenda package that has not significantly changed since the prior version that you reviewed. Again, it restates the 2008 and 2016 restated master engineer's report, it confirms the maximum assessment lien for the 2018 refunding bonds. You have the sources and uses, the debt service reserve breakdown as well as the annual debt service payments in the exhibits. Section 5 will authorize the recording of these updates in the district's improvement lien book. Again, this is the culmination of the prior work done for this refunding.

Mr. Perry stated when we first started this process we anticipated an increase in the par debt associated with each of the development units and during the process there was an actual reduction in debt, although minor, it is still a reduction in par debt. With the financing there is a substantial reduction in your annual assessment depending on what size lot that you have aod the reduction ranges from $194 up to about $460.

On MOTION by Mr. Sessions seconded by Mr. Oates with all in favor Resolution 2018-16 was approved.

Consideration of Additional Financing Matters

Mr. Perry stated we don't have any items we need to bring to the board at this time.

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September 12, 2018	Rivers Edge CDD

SIXTH ORDER OF BUSINESS	Pubic Hearing to Adopt the Budget for Fiscal

Year 2019

Mr. Perry stated I provided to you by email today a budget that is just a little different

than the one in the agenda package. The only change in the one in front of you today versus what was provided to you previously is the original one only had the refunded bonds, the 2018A-l and A-2 but there was also a 2018 Bond issue and that is included in this also. There was a little confusion internally and unfortunately the series 2018 was left off in the first version.

Since the approval of the budget by the board there has been very little changes overall, the one major change is as you will remember from last year with the construction of the River Club all the expenses for the River Club were flowing through this district and we budgeted for them. With this budget we removed that completely and your sister district has that in their budget now. Those costs are completely segregated, which they had been before, but the payments were processed through this district.

In regard to the assessments for most of the residents that live in RiverTown that are in the 2018 refinanced bond areas their annual assessments are going to go down even though your operation and maintenance assessments are increasing this year. For example, a 50-foot lot would have an increase of O&M of $110 based on this budget but the decrease in the refinancing that we just did is $274 so it is a net decrease in your annual assessment for this next year of $164. Other than that this budget is basically the same as you approved before, this is just the adoption process.

On MOTION by Mr. Sessions seconded by Mr. Oates with all in favor the public hearing was opened.

A resident asked can you explain the increase in the O&M?

Mr. Perry stated a lot of it is attributable to levels of service, staffing, payroll is one of the largest drivers. Some of the other cost drivers are related to utilities, JEA being one of them.

Mr. Sessions stated Mattamy has owned the property for four years and this is the first increase in O&M and natural inflation drives costs up. As we drive harder to keep costs down and spend a great of time going out for bid on landscaping contractor and we are able to secure a lower cost contract that helped offset the inflationary cost within the budget. There is a greater

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September 12, 2018	Rivers Edge CDD

area of maintenance and we have increased staffing quite a bit at the facilities in response to residents' requests. The River Club staffing and River House staffing are shared and there is a spreadsheet that details the hours that are spent in each and what gets applied to where. The end game hopefully, will be that all three CDDs because there will be three CDDs within Rivertown will all share the costs of all the amenities within the three CDDs. That is the goal at buildout and all the residents will share the costs and all will be able to use all the facilities.

On MOTION by Mr. Oates seconded by Mr. Sessions with all in favor the public hearing was closed.

A.	Consideration of Resolution 2018-17 Relating to annual Appropriations and Adopting the Budget for Fiscal Year 2019

Mr. Perry stated this is a standard form resolution and on page 2 under appropriations we will fill in the numbers related to the budget that we just discussed. This resolution shows the debt service fund for Series 2018 Bonds and it will have an additional line for Series 2018 A-1 and A-2 Bonds.

On MOTION by Mr. Oates seconded by Ms. Jinks with all in favor
Resolution 2018-17 was approved.

B.	Consideration of Resolution 2018-18 Imposing Special Assessments and Certifying an Assessment Roll for Fiscal Year 2019

Mr. Perry stated this is a standard form resolution and we will be providing the roll to St. Johns County by this Friday and your assessments appear on your property tax bill.

On MOTION by Mr. Oates seconded by Mr. Sessions with all in favor Resolution 2018-18 was approved.

SEVENTH ORDER OF BUSINESS Consideration of Proposal From VGlobalTech for ADA Website Accessibility
Mr. Perry stated this proposal provides for a conversion cost and annual maintenance of

that. This is to get the district's website in compliance, it basically provides for people who have hearing or sight issue to be able to access the information on the site. It has been the subject of

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September 12, 2018	Rivers Edge CDD

several lawsuits for both public and private entities recently. We are converting all the districts that we manage to make sure that we are in compliance.

Mr. Sessions moved to approve the proposal from VGlobalTech and Ms. Jinks seconded the motion.

Mr. Oates asked do we know the extent of which we are in or out of compliance?

Ms. Kilinski stated there was federal rulemaking that took place in 2015 and 2016 and that was disbanded so there is no real federal guidance on this or clear regulatory framework. There have been some lawsuits that have popped up in Florida and elsewhere around the country, most of them have settled. This is a more proactive approach based on our understanding of what case law is starting to develop across the county, we don't expect there to be federal regulations as long as the current administration remains in place. Part of the tasks for these folks is to use what the federal regulations would have required if they were passed and part of their task is to analyze the website and give us a report that will demonstrate what compliance issues we may have and make the remediation efforts that are required in order to meet those standards. They also have ongoing tasks where if the standard changes as technology does from time to time they will provide those updates for the district.

On voice vote with all in favor the motion passed.

EIGHTH ORDER OF BUSINESS	Approval  of the Minutes  of the August 22,
2018 Meeting

On MOTION by Mr. Sessions seconded by Mr. Oates with all in favor the minutes of the August 22, 2018 were approved as presented.

NINTH ORDER OF BUSINESS	Staff Reports

A.	Attorney

There being none, the next item followed.

B.	Engineer- Consideration of Requisition No. 40

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September 12, 2018	Rivers Edge CDD

Mr. Stillwell stated this is for the fmal payment of the retainage for the roundabout in the amoun~ of $141,985.17.

On MOTION by Mr. Sessions seconded by Ms. Jinks with all in favor requisition no. 40 in the amount of $141,985.17 was approved.

C.	Manager

There being none, the next item followed.

D.	Amenity Manager

1.	Report

Mr. Davidson gave an overview of his report, which was included in the agenda package.

2.	Basketball Court Policies

Mr. Sessions stated I would add into item one that it cannot be reserved unless it is for an approved, monitored community program or event. I think your intent on the wait times is correct but I think it can be misconstrued, it says teams should limit use to 1 hour when another group of patrons is waiting. That is not the way that basketball courts work, pickup games kind of rotates in and I would not like to see 10 people show up and say we are going to hold the court for an hour when there are teams waiting. I think you need to tweak the rules a little bit. If you want to send it to me I will review it and you and I will work through it.

On MOTION by Mr. Sessions seconded by Mr. Oates with all in favor the basketball court policies were approved in substantial form subject to final approval by the chairman.

3.	Tennis Court Policies

Ms. Long stated the group you hired to give tennis lessons for RiverTown I thought their prices were extremely high it is $24 for an hour and a half and an hour and a half is too long for young children. If they could do an hourly rate and less for younger children I think it would be better.

Mr. Sessions asked how is it being received?

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September 12, 2018	Rivers Edge CDD

Mr. Davidson stated that is how it has been received, that it is too high.

Mr. Sessions stated being received that way it won't last long so they will have to adjust their prices to make it successful.

Ms. Long stated other communities are charging less than us.

Mr. Sessions stated residents can bring information to Jason at any time to use to manage the groups and any contract we have has a cancelation clause.

Ms. Jinks stated can we put some of these rules on signage by the tennis courts? Mr. Sessions stated yes, the same as we did with the pool rules.

On MOTION by Mr. Sessions seconded by Mr. Oates with all in favor the tennis court policies were approved.

E.	Field Services - Report

Mr. Beladi gave an overview of the field operation manager's report, which was included

in the agenda package.		
TENTH ORDER OF BUSINESS	Supervisors'RequestsaudAudience	
	Comments	
Mr. Sessions stated I know a lot of people have concerns with the landscaping as it is	

today. We have been trying to get BrightView to do better. We had a lot of rain over the last several months, which made it challenging. BrightView has reduced their staff here partially because they lost a big group of staff to another company and we are holding them accountable to their contract and I have been in contact with Jim about what we will do about the last couple month's payments if the quality of work doesn't improve before they leave. We are working hard at it and I promise we have a lot of Mattamy people hounding them and trying to get it done. We are trying to get VerdeGo in here faster the transition between landscape companies is always difficult so there will be a transition period expected and rest assured that Mattamy has the best interests of the residents in mind and we are working hard at it.

Ms. Long stated I want to thank Vesta for putting the word out on Facebook about the

contract changing from BrightView to VerdeGo.

ELEVENTH ORDER OF BUSINESS	Financial Reports

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September 12, 2018	Rivers Edge CDD

A.	Tri-Party Funding Request No. 65

On MOTION by Mr. Sessions seconded by Ms. Jinks with all in favor tri~.!'arty funding request no. 65 was approved.

Construction Funding Request no. 7

On MOTION by Mr. Sessions seconded by Mr. Oates with all in favor construction funding request no. 7 in the amount of $141,985 .17 was approved.

B.	Balance Sheet & Income Statement

A copy of the balance sheet and income statement were included in the agenda package.

C.	Assessment Receipt Schedule

A copy of the assessment receipt schedule was included in the agenda package.

D.	Approval of Check Register

On MOTION by Mr. Sessions seconded by Mr. Oates with all in favor the check register was approved.

TWELFTH ORDER OF BUSINESS	Next   Scheduled   Meeting   -   Wednesday,
October	17,  2018  @  11:00  a.m.  at  the

RiverTown Amenity Center

Mr. Perry stated the next scheduled meeting is October 17, 2018 at this location at 11 :00

a.m.

On MOTION by Mr. Sessions seconded by Mr. Oates with all in favor the meeting adjourned at 6:32 p.m.

Ch.i'irman/Vice Chairman

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