MINUTES OF MEETING GARDENS AT HAMMOCK BEACH
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Gardens at Hammock Beach Community Development District was held on Friday, January 15, 2021 at 12:00 p.m. at City Centre at Palm Coast Town Center, 145 City Place, Suite 301, Palm Coast, Florida.

Present and constituting a quorum were:

Clint Smith David Lusby
William Livingston
Also present were: George Flint
Michael Chiumento III Ken Belshe

FIRST ORDER OF BUSINESS

Chairman
Vice Chairman Assistant Secretary

District Manager District Counsel
Palm Coast Intracoastal, LLC

Roll Call

Mr. Flint called the meeting to order at 12:00 p.m. A quorum was present.

Appointment of Individuals to Fulfill the Board Vacancies in Seats 4 & 5
(Added)
Mr. Flint: We have two vacant seats. Are there any nominations to appoint anyone to the vacancies at this point? Hearing none, we will continue that item.

SECOND ORDER OF BUSINESS	Public Comment Period
Mr. Flint: Is there any public comment? Hearing none,

THIRD ORDER OF BUSINESS	Approval of Minutes of the December 4, 2020
Meeting
Mr. Flint: Did the Board have any additions, deletions, or corrections to the minutes of the December 4, 2020 meeting? Hearing none,

January 15, 2021	Gardens at Hammock Beach COD

On MOTION by Mr. Livingston seconded by Mr. Smith with all in favor the Minutes of the December 4, 2020  Meeting  were approved as presented.

FOURTH  ORDER OF BUSINESS	Financing Matters
Consideration of Engineer's Report
Consideration of Assessment Methodology
Mr. Flint: We had a public hearing scheduled for January 5t h • Unfortunately, we did not have a quorum to hold that meeting. Therefore, we placed the items back onto this agenda to restart the public hearing process. You have the Engineer's Report, dated February 27, 2020, which has not changed. It describes the eligible costs that could be financed by the District in this Assessment Area. Are there any questions or comments on the Engineer's Report? There are
$20,185,000 in improvements. You also have the Master Assessment Methodology Report for Assessment Area One. It takes the Engineer's Report and includes the development program. If you turn to Page 9, the first table is the Development Plan. We are anticipating 335 single-family homes. We assigned Equivalent Residential Unit (ERU) factors to those, resulting in 428.8  ERUs. Table 2 identifies the capital improvements that are taken directly from the Engineer's Report. That is the $20,185,000. Table 3 is the bond sizing, assuming the District issues bonds to fund 100% of the eligible improvements under some very conservative assumptions. We would need to issue $25,565,000 in par debt. Table 4 shows the improvement cost per unit. Table 5 is the par debt per unit and Table 6 is the net and gross annual assessments  if we were  to fund 100% of the improvements. We likely would never impose assessments at this level, but this process is the master lien, which is intended to give you maximum flexibility when you actually go to issue bonds. Table 7 is the Preliminary Assessment Roll, which is a legal description of the assessment area, which is 248.93 acres. We also included the sketch and legal description. Those have not changed. You've seen those reports several times.

Consideration of 2021-04 Declaring Special Assessments
Mr. Flint: The next item is Resolution 2021-04. Exhibit A is the Engineer's Report and Exhibit B is the Assessment Methodology Report. In this resolution, the District declares its intent to impose assessments. It is not actually creating a lien or imposing the assessments. It is just declaring the intent to do so. Are there any questions on Resolution 2021-04? Hearing none, we need a motion to adopt it.

On MOTION by Mr. Lusby seconded by Mr. Smith with all in favor Resolution 2021-04 Declaring Special Assessments was approved.

Consideration of Resolution 2021-05 Setting a Public Hearing for Special Assessments
Mr. Flint: Resolution 2021-05 sets the date, place and time of the public hearing. I think we were talking about a date 45 days out, which is basically six weeks or Friday, March 5, 2021. Does that work?
Mr. Smith: What time?
Mr. Flint: That's up to you. It will be on the first Friday in March. Mr. Smith: I'm free.
Mr. Flint: Does March 5 at 10:00 a.m. work? Mr. Livingston: It is going to work fine.
Mr. Flint: If that works, we will fill in the blanks in the resolution.

On MOTION by Mr. Smith seconded by Mr. Livingston with all in favor Resolution 2021-05 Setting a Public Hearing for Special Assessments on March 5, 2021 at 10:00 a.m. at this location was adopted.

Mr. Flint: That's all we needed on financing matters.

FIFTH ORDER OF BUSINESS
Attorney (Added)

Staff Reports

Mr. Flint: We streamlined this agenda. Michael, do you have anything? Mr. Chiumento III: No.

District Manager's Report
Balance Sheet and Income Statement
Mr. Flint: You have the Unaudited Financials through September 30, 2020. Are there any questions on the financials? Hearing none,

Ratification of Fiscal Year 2021 Funding Request #2
Mr. Flint: We are asking the Board to ratify  Funding Request #2  for Fiscal Year 2021. It
has  been  transmitted   to  the  developer   under  the  Developer   Funding   Agreement.  It totals
$6,966.10.

On MOTION by Mr. Livingston seconded by Mr. Smith with all in favor Funding Request #2 for Fiscal Year 2021 was ratified.

Designation of Public Records Location
Mr. Flint: We need to designate a public records location in Flagler County. Previously, we designated Ken's office across the hall, but since he's moved, we need another location. The only obligation of the local records office is to house a three-ring binder. The record of proceedings would be contained in that binder to meet the statutory requirement. If anyone asked to inspect them, they would have to be provided. Obviously, most of the records are contained in our office as the records custodian, but to meet the statutory requirements, you have to have a local records office. Ken, I don't know if you are willing to continue to have your office serve as the local records office.
Mr. Belshe: You can do it in my office.
Mr. Livingston: You are not going anywhere are you? Mr. Belshe: No.
Mr. Smith: It's more appropriate in the attorney's office.
Mr. Chiumento III: It's a book on a shelf. If somebody wants something, it's here.
Mr. Flint: The attorney or engineer will usually use their office. Once the project is developed, if you have a Clubhouse, normally we would designate the Clubhouse or construction trailer. If you are okay with that, we need a motion to designate District Counsel's office as the local records office.

On MOTION by Mr. Lusby seconded by Mr. Smith with all in favor designating District Counsel's office, City Centre at Palm Coast Town Center, 145 City Place, Suite 301, Palm Coast, Florida as the public records location, was approved.

SIXTH ORDER OF BUSINESS	Other Business
Mr. Flint: That was all we had on the agenda for this meeting. Was there anything else that the Board or staff wanted to discuss? Hearing none,

SEVENTH ORDER OF BUSINESS	Supervisor's Request
Mr. Flint: If there's nothing else from the Board or staff, we need a motion to adjourn.

EIGHTH ORDER OF BUSINESS	Adjournment

On MOTION by Mr. Smith seconded by Mr. Lusby with all in favor the meeting was adjourned.

Secreta ry / Assistant Secretary	Chairman/ Vice Chairman