GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT

PALM BEACH COUNTY REGULAR BOARD MEETING NOVEMBER 16, 2023
4:00 P.M.

Special District Services, Inc.
The Oaks Center 2501A Burns Road
Palm Beach Gardens, FL 33410

www.gulfstreampolocdd.org 561.630.4922 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA GULFSTREAM POLO
COMMUNITY DEVELOPMENT DISTRICT
Oaks Center 2501A Burns Road
Palm Beach Gardens, Florida 33410
REGULAR BOARD MEETING
November 16, 2023
4:00 P.M.

Call to Order
Proof of Publication…	Page 1
Establish a Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
June 22, 2023 Regular Board Meeting & Public Hearing…	Page 2
Old Business
New Business
Consider Resolution No. 2023-05 – Adopting a Fiscal Year 2022/2023 Amended Budget… Page 5
Administrative Matters
Board Members Comments
Adjourn

Publication Date 2023-10-06

Subcategory Miscellaneous Notices

GULFSTREAM POLO
COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024 REGULAR MEETING SCHEDULE
NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Gulfstream Polo Community Development District will hold Regular Board Meetings in the offices located at The Oaks Center, 2501A Burns Road, Palm Beach Gardens, Florida 33410 at 4:00 p.m., on the following dates:
October 19, 2023
November 16, 2023
December 21, 2023
January 18, 2024
February 15, 2024
March 21, 2024
April 18, 2024
May 16, 2024
June 20, 2024
July 18, 2024
August 15, 2024
September 19, 2024
The purpose of the meetings is to conduct any 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 Agendas for any of the meetings may be obtained from the Districts 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 two 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.
Said meeting(s) 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 ensure 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.
In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at any of these meetings should contact the District Manager at 561-630-4922 and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the particular
meeting.
Meetings may be cancelled from time to time without advertised notice. GULFSTREAM POLO
COMMUNITY DEVELOPMENT DISTRICT
www.gulfstreampolocdd.org Oct. 6, 2023 #9343333

Page 1

GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT PUBLIC HEARING & REGULAR BOARD MEETING
JUNE 22, 2023

CALL TO ORDER

The Gulfstream Polo Community Development District (the “District”) Regular Board Meeting of June 22, 2023, was called to order at 4:00 p.m. at the Oaks Center located at 2501A Burns Road, Palm Beach Gardens, Florida 33410.

PROOF OF PUBLICATION

Proof of publication was presented which showed that notice of the Regular Board Meeting had been published in the Palm Beach Post on October 11, 2022, as part of the District’s Fiscal Year 2022/2023 Meeting Schedule, as legally required.

ESTABLISH A QUORUM

A quorum was established with the following Supervisors present: Vice Chairman Andrew Maxey and Supervisors Garrett Dinsmore and Eliot Goldstein.

Also present were the following staff members: District Manager Jason Pierman of Special District Services, Inc.; District Counsel Jonathan Johnson of Kutak Rock (via phone); and District Engineer Jeff Schnars of Schnars Engineering Corporation (via phone).

ADDITIONS OR DELETIONS TO AGENDA

There were no additions or deletions to the agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

There were no comments from the public for items not on the agenda.

APPROVAL OF MINUTES
April 20, 2023, Regular Board Meeting

The minutes of the April 20, 2023, Regular Board Meeting were presented for approval.

A motion was made by Mr. Goldstein, seconded by Mr. Maxey and passed unanimously approving the minutes of the April 20, 2023, Regular Board Meeting, as presented.

The Regular Board Meeting was then recessed and the Public Hearing was opened.

PUBLIC HEARING
Proof of Publication

Proof of publication was presented which showed that notice of the Public Hearing had been published in the Palm Beach Post on June 2, 2023, and June 9, 2023, as legally required.

Receive Public Comment on the Fiscal Year 2023/2024 Final Budget

There was no public comment on the Fiscal Year 2023/2024 Final Budget.

Consider Resolution No. 2023-03 – Adopting a Fiscal Year 2023/2024 Final Budget

Resolution No. 2023-03 was presented, entitled:

RESOLUTION 2023-03

THE ANNUAL APPROPRIATION RESOLUTION OF THE GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT (“DISTRICT”) RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2023 AND ENDING SEPTEMBER 30, 2024; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.

A motion was made by Mr. Goldstein, seconded by Mr. Dinsmore and passed unanimously adopting Resolution No. 2023-03, as presented.

The Public Hearing was then closed and the Regular Board Meeting was reconvened.

OLD BUSINESS

There were no Old Business items to come before the Board.

NEW BUSINESS
Consider Resolution No. 2023-04 – Adopting a Fiscal Year 2023/2024 Meeting Schedule

Resolution No. 2023-04 was presented, entitled:

RESOLUTION NO. 2023-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2023/2024 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE.

A motion was made by Mr. Goldstein, seconded by Mr. Maxey and passed unanimously adopting Resolution No. 2023-03, as presented.

Consider Easement Agreements

Mr. Johnson explained that the drainage easements were platted to the HOA, but that the District had installed them using bond proceeds. The purpose of the easements is to assign drainage easements to the District for ownership and access. He noted that there would be additional permit documents for signature for SFWMD.

A motion was made by Mr. Goldstein, seconded by Mr. Maxey and passed unanimously approving the Easement Agreements, as presented.

ADMINISTRATIVE MATTERS

Mr. Pierman reminded the Board to file their 2022 Form 1 – Statement of Financial Interests before the July 1st deadline.

Mr. Pierman noted that the next meeting was scheduled for October 19, 2023.

BOARD MEMBER COMMENTS

There were no further comments from the Board Members.

ADJOURNMENT

There being no further business to come before the Board, a motion was made by Mr. Maxey, seconded by Mr. Dinsmore and passed unanimously adjourning the meeting at 4:10 p.m.

ATTESTED BY:

Secretary/Assistant Secretary	Chairperson/Vice-Chair

RESOLUTION NO. 2023-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE GULF STREAM POLO COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2022/2023 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER 189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors of the Gulf Stream Polo Community Development District (“District”) is empowered to provide a funding source and to impose special assessments upon the properties within the District; and,

WHEREAS, the District has prepared for consideration and approval an Amended Budget.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE GULF STREAM POLO COMMUNITY DEVELOPMENT DISTRICT, THAT:

Section 1.  The Amended Budget for Fiscal Year 2022/2023 attached hereto as Exhibit “A” is hereby approved and adopted.

Section 2.  The Secretary/Assistant 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 16th day of November, 2023.

ATTEST:	GULF STREAM POLO
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

Gulfstream Polo Community Development District

Amended Final Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET - SERIES 2017

AMENDED FINAL DEBT SERVICE FUND BUDGET - SERIES 2019

AMENDED FINAL BUDGET
GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2022/2023 OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2022/2023 BUDGET 10/1/22 - 9/30/23	AMENDED FINAL BUDGET
10/1/22 - 9/30/23	YEAR TO DATE ACTUAL
10/1/22 - 9/29/23	
O M Assessments	9 321	101,133	101 133	
Debt Assessments 2017	206 739	206,824	206 24	
Debt Assessments 2019	629 2 	635,637	635 637	
Other Revenue	0	0	0	
Interest Income	120	4,116	4 016	
				
TOTAL REVENUES	$	934,468	$	947,710	$	947,610	
				
EXPENDITURES				
Supervisor Fees	0	0	0	
Payro Ta[es Emp oyer	0	0	0	
Engineering/Inspections	2 000	2,000	541	
Management	36 792	36,792	36 792	
Lega 	10 000	8,100	7 013	
Assessment Ro 	5 000	5,000	5 000	
AuGit Fees	5 200	5,300	5 300	
Arbitrage Rebate Fee	650	650	650	
Insurance	5 900	5,842	5 42	
Lega AGvertisements	1 500	2,200	1 23	
Misce aneous	600	300	1 	
Postage	300	140	114	
Office Supp ies	625	360	322	
Dues Subscriptions	175	175	175	
Trustee Fee	7 300	7,847	7 47	
Continuing Disc osure Fee	1 500	1,500	1 500	
LaNe Maintenance	13 000	3,000	0	
Reserve	2 000	2,000	0	
TOTAL EXPENDITURES	$	92,542	$	81,206	$	72,937	
				
REVENUES LESS EXPENDITURES	$	841,926	$	866,504	$	874,673	
				
BonG Payments 2017	 194 335 	 196,968 	 196 96 	
BonG Payments 2019	 591 531 	 605,244 	 605 244 	
				
BALANCE	$	56,060	$	64,292	$	72,461	
				
Property Appraiser Ta[ Co ector Fee	 1 6 6 	 10,649 	 10 649 	
Discounts For Ear y Payments	 37 374 	 35,997 	 35 997 	
				
EXCESS/ S+ORTFALL 	$	-	$	17,646	$	25,815	
				
Carryover From Prior Year	0	0	0	
				
NET EXCESS/ S+ORTFALL 	$	-	$	17,646	$	25,815	

FUND BALANCE AS OF 9/30/22	
FY 2022/2023 ACTIVITY	
FUND BALANCE AS OF 9/30/23	

$43 403	
$17 646	
$61 049	

AMENDED FINAL BUDGET
GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND - SERIES 2017
FISCAL YEAR 2022/2023 OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2022/2023 BUDGET 10/1/22 - 9/30/23	AMENDED FINAL BUDGET
10/1/22 - 9/30/23	YEAR TO DATE ACTUAL
10/1/22 - 9/29/23	
Interest Income	25	7,573	7,573	
NAV Assessment Co ection	194 335	196,968	196,968	
				
Total Revenues	$	194,360	$	204,541	$	204,541	
				
EXPENDITURES				
Principa Payments	60 000	55,000	55,000	
Interest Payments	124 963	125,925	125,925	
Bond Redemption	9 397	0	0	
Total Expenditures	$	194,360	$	180,925	$	180,925	
				
ExFess/ SKortfall 	$	-	$	23,616	$	23,616	

FUND BALANCE AS OF 9/30/22	
FY 2022/2023 ACTIVITY	
FUND BALANCE AS OF 9/30/23	

$271 672	
$23 616	
$295 288	

Notes
Reserve Fund Ba ance = $96 120*. Revenue Fund Ba ance = $199 168* Revenue Fund Used To Fund 11/1/22 Principa & Interest Payment Of $122 481 (Principa $60 000 + Interest $62 481 = $122 481).
* Approximate Amounts

Series 2017 Bond Information

Origina Par Amount =	$2 870 000	Annua Principa Payments Due 	
Interest Rate =	3.5% - 5.0%	November 1st	
Issue Date =	August 2017	Annua Interest Payments Due 	
Maturity Date =

Par Amount As Of 9/30/23 =	November 2047

$2 630 000	May 1st & November 1st	

AMENDED FINAL BUDGET
GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND - SERIES 2019
FISCAL YEAR 2022/2023 OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2022/2023 BUDGET 10/1/22 - 9/30/23	AMENDED FINAL BUDGET
10/1/22 - 9/30/23	YEAR TO DATE ACTUAL
10/1/22 - 9/29/23	
Interest Income	25	19,116	19 016	
NAV Assessment Co ection	591 531	605,244	605 244	
Prepaid Bond Co ection	0	11,714	11 714	
Total Revenues	$	591,556	$	636,074	$	635,974	
				
EXPENDITURES				
Principa Payments	200 000	195,000	195 000	
Interest Payments	388 706	391,631	391 631	
Bond Redemption	2 850	0	0	
Transfer To Construction Fund	0	9,813	7 813	
Total Expenditures	$	591,556	$	596,444	$	594,444	
				
ExFess/ SKortfall 	$	-	$	39,630	$	41,530	

FUND BALANCE AS OF 9/30/22	
FY 2022/2023 ACTIVITY	
FUND BALANCE AS OF 9/30/23	

$708 234	
$39 630	
$747 864	

Notes
Reserve Fund Ba ance = $295 765*. Revenue Fund Ba ance = $440 385* Prepayment Account Ba ance = $11 714*.
Revenue Fund Used To Fund 11/1/23 Principa & Interest Payment Of $394 353 (Principa $200 000 + Interest $194 353 = $394 353).
Prepayment Account Ba ance To Be Used To Make 11/1/2023 Extraordinary Principa Payment Of $10 000.
* Approximate Amounts

Series 2019 Bond Information

Origina Par Amount =	$9 860 000	Annua Principa Payments Due 	
Interest Rate =	3.0% - 4.375%	November 15th	
Issue Date =	August 2019	Annua Interest Payments Due 	
Maturity Date =

Par Amount As Of 9/30/23 =	November 2049

$9 290 000	May 15th & November 15th