GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT

PALM BEACH COUNTY REGULAR BOARD MEETING APRIL 17, 2025
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
April 17, 2025
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
September 19, 2024 Regular Board Meeting…	Page 2
Old Business
New Business
Consider Resolution No. 2025-01 – Adopting a Fiscal Year 2025/2026 Proposed Budget… Page 5
Administrative Matters
Board Members Comments
Adjourn

LOCALiQ
The Gainesville Sun I The Ledger
Daily Commercial I ocala StarBanner Nev..'i Chief I 1-terald-Trlbune
News Herald I The Palm Beach Post Northwest Florida Dally News

PO Box 631244 Cincinnati, OH 45263-1244

GULFSTREAM POLO

AFFIDAVIT OF PUBLICATION
Gulfstream Polo Cdd
Attn: Special District Services Gulfstream Polo Cdd 2501ABURNS ROAD

PALM BEACH GARDENS FL 33410

STATE OF WISCONSIN, COUNTY OF BROWN

Before the undersigned authority personally appeared, who on oath says that he or she is the Legal Coordinator of the Palm Beach Post, published in Palm Beach County, Florida; that the attached copy of advertisement, being a Public Notices, was published on the publicly accessible website of Palm Beach County, Florida, or in a newspaper by print in the issues of, on:

10/07/2024

Affiant further says that the website or newspaper complies with all legal requirements for publication in chapter 50, Florida Statutes.
Subscribed and sworn to before me, by the legal clerk, who

on 10/07/2024

,CountyofBrown

	l-1	

Publication Cost:	$236.84	
Tax Amount:	$0.00	
Payment Cost:	$236.84	
Order No:	10627665	
Customer No:	730341	
PO#:		

My commission expires

#of Copies:
1

THIS IS NOT AN INVOICE!
Please do not use this form for payment remittance.

COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 202-112025 REGULAR MEETING SCHEDULE NOTICE IS HEREBY GIVEN 1h01
the Boar<I of Supervisors of the Gulfstream Polo Communrtv Development Distrk:t will hol<I R:egu ar Board Meetrn;s in the Ollie&S Jocoted ot The OOks Center,
:2SOIA Burns R00<1. Polm Beach Gardens. Flor do 33,110 at 4:00 p.m., on the following <101es:
October 17, 2024
November 21, 2024
December 19, 2024
Jonuorv 16, 2025
February 20, 2025
Morch 20, 2025
April l 7, 2025
Moy 15, 2025
Ju V 17. 202S
Auaust 21, 2025
September 18, 2025
The purPOse of fhe meetin.gs is to conduct ony business coming befOre the Board Meetings ore open to the
public and wm be  conducted in
occor<fonce with the provisions of Florido low Copies Of the Agendas tor anv of thf' meetinS1s mov be 0t1o101ned from the Of1,tric:t's \\l'ebsUe or bY conloct,n9 the Dlslrict Monour of 561-63()..1922 oncllor toll free 01 1-sn.r.,7.,m prior to the
<late ot the PO<lkular meelin<;i. From ttme to time one or two Super• vi$0rS mov POrticlpote by felt-­ Phone; the-refore. O sPe<Jker telete phone will be presenl ot the meeting location so that Supervisors mov Ile fullv Informed of the discussions taking place. Sold meeting(s) mov be cont nued os found necessary to a time an<I ptoce specified on the record,
II onv person deci<les to oPpeol onv decision mode with reiPect to onv m01ter considered ot the$e mett logs, such person wiU need o record ot the proceedings and such person mov need to ensure that a verbatim record of the l>l'OCeedfngs ls mode ot his. or her own e)(pense 0t1d wl\jch record inchJdes the te$fimonv 0t1d evidence on which the agc,eal Is bOseo.
In accordance with the provision, of the Americons with Dlsobillttes Acl. anv person requlrfng $PtKla I OC'COl"r'I· rnodotions or an interpreter to portici.POte at onv of these meetings. should conJacr the District Monaoer at 561-630-4922 and/or toll free or 1• 877-737-4922 01 leost seven (7) <lav
Prior to the dote of the particuror
meetln9.
Meetings mov be cancelled from time to time without advertised notice.
GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT

o,m,

www.11u1tstreamp0locdd.or11
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Page 1 of 1

GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
SEPTEMBER 19, 2024

CALL TO ORDER

The Gulfstream Polo Community Development District (the “District”) Regular Board Meeting September 19, 2024, was called to order at 4:0 2 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 September 9, 2024, as legally required.

ESTABLISH A QUORUM

A quorum was established with the following Supervisors present: Chairman David Kanarek, Vice Chairman Andrew Maxey and Supervisor Eliot Goldstein.

Also present were the following staff members: District Manager Jason Pierman of Special District Services, Inc.; and District Counsel Kyle Magee of Kutak Rock.
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
June 20, 2024, Public Hearing & Regular Board Meeting
The minutes of the June 20, 2024, Public Hearing & 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 June 20, 2024, Public Hearing & Regular Board Meeting, as presented.
OLD BUSINESS

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

NEW BUSINESS
Consider Resolution No. 2024-05 – Adopting Goals and Objectives

Resolution No. 2024-05 was presented, entitled:

Page 1 of 3

RESOLUTION 2024-05

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

A motion was made by Mr. Kanarek, seconded by Mr. Maxey and passed unanimously adopting Resolution No. 2024-05, as presented.

Consider Resolution No. 2024-06 – Adopting a Fiscal Year 2023/2024 Amended Budget

Resolution No. 2024-06 was presented, entitled:

RESOLUTION NO. 2024-06

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE GULF STREAM POLO COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2023/2024 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER
189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.
A motion was made by Mr. Goldstein, seconded by Mr. Maxey and passed unanimously adopting Resolution No. 2024-06, as presented.
ADMINISTRATIVE MATTERS

Mr. Pierman noted that the next meeting would be held in March or April.

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. Kanarek, seconded by Mr. Maxey and passed unanimously adjourning the meeting at 4:48 p.m.

ATTESTED BY:

	
Secretary/Assistant Secretary	Chairperson/Vice-Chair

RESOLUTION 2025-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2024/2025 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW; ADDRESSING TRANSMITTAL, POSTING AND PUBLICATION REQUIREMENTS; ADDRESSING SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has heretofore prepared and submitted to the Board of Supervisors (“Board”) of the Gulfstream Polo Community Development District (“District”) prior to June 15, 2024, a proposed budget (“Proposed Budget”) for the fiscal year beginning October 1, 2024 and ending September 30, 2025 (“Fiscal Year 2024/2025”); and

WHEREAS, the Board has considered the Proposed Budget and desires to set the required public hearing thereon.

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

PROPOSED BUDGET APPROVED. The Proposed Budget prepared by the District Manager for Fiscal Year 2024/2025 attached hereto as Exhibit A is hereby approved as the basis for conducting a public hearing to adopt said Proposed Budget.
SETTING A PUBLIC HEARING. A public hearing on said approved Proposed Budget is hereby declared and set for the following date, hour and location:

DATE:		, 2025 

HOUR:		4:00 p.m.	
LOCATION:	  The Oaks Center	
  2501A Burns Road	
  Palm Beach Gardens, FL 33410	

TRANSMITTAL  OF  PROPOSED  BUDGET  TO  LOCAL  GENERAL
PURPOSE GOVERNMENT. The District Manager is hereby directed to submit a copy of the Proposed Budget to Palm Beach County at least 60 days prior to the hearing set above.

POSTING OF PROPOSED BUDGET. In accordance with Section 189.016, Florida Statutes, the District’s Secretary is further directed to post the approved Proposed Budget on the District’s website at least two days before the budget hearing date as set forth in Section 2, and shall remain on the website for at least 45 days.

PUBLICATION OF NOTICE. Notice of this public hearing shall be published in the manner prescribed in Florida law.

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.

EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 17th DAY OF April, 2025.

ATTEST:	GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT

By:	

Secretary	Its:	

Gulfstream Polo Community Development District

Proposed Budget For Fiscal Year 2025/2026
October 1, 2025 - September 30, 2026

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2017)

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2019)

ASSESSMENT COMPARISON

PROPOSED BUDGET
GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2025/2026 BUDGET	
O&M Assessments	100,548	
Debt Assessments - 2017	206,739	
Debt Assessments - 2019	628,477	
Interest Income	1,200	
		
TOTAL REVENUES	$	936,964	
		
EXPENDITURES		
Supervisor Fees	0	
Engineering/Inspections	2,000	
Management	40,140	
Legal	8,500	
Assessment Roll	5,000	
Audit Fees	5,700	
Arbitrage Rebate Fee	650	
Insurance	7,000	
Legal Advertisements	2,000	
Miscellaneous	450	
Postage	275	
Office Supplies	550	
Dues & Subscriptions	175	
Trustee Fees	7,850	
Continuing Disclosure Fee	1,000	
Lake Maintenance	13,000	
Reserve	1,425	
		
TOTAL EXPENDITURES	$	95,715	
		
REVENUES LESS EXPENDITURES	$	841,249	
		
Bond Payments - 2017	(194,335)	
Bond Payments - 2019	(590,768)	
		
BALANCE	$	56,146	
		
County Appraiser & Tax Collector Fee	(18,715)	
Discounts For Early Payments	(37,431)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2023/2024 ACTUAL	
FISCAL YEAR 2024/2025 BUDGET	
FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	
O&M Assessments	101,476	100,548	100,548	Expenditures/.94	
Debt Assessments - 2017	206,786	206,739	206,739	Bond Payments/.94	
Debt Assessments - 2019	634,834	628,477	628,477	Bond Payments/.94	
Interest Income	9,019	600	1,200	Interest Projected At $100.00 Per Month	
					
TOTAL REVENUES	$	952,115	$	936,364	$	936,964		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Engineering/Inspections	50	2,000	2,000	No Change From 2024/2025 Budget	
Management	37,884	39,012	40,140	CPI Adjustment	
Legal	2,330	9,000	8,500	$500 Decrease From 2024/2025 Budget	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	5,400	5,600	5,700	Accepted Amount For 2024/2025 Audit	
Arbitrage Rebate Fee	650	650	650	For Series 2019 Bond (2017 Qualifies For Small User Exception)	
Insurance	6,280	6,800	7,000	Fiscal Year 2024/2025 Expenditure :as $6,531	
Legal Advertisements	2,107	1,800	2,000	$200 Increase From 2024/2025 Budget	
Miscellaneous	187	475	450	$25 Decrease From 2024/2025 Budget	
Postage	107	275	275	No Change From 2024/2025 Budget	
Office Supplies	183	600	550	$50 Decrease From 2024/2025 Budget	
Dues & Subscriptions	175	175	175	No Change From 2024/2025 Budget	
Trustee Fees	7,816	7,850	7,850	No Change From 2024/2025 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2024/2025 Budget	
Lake Maintenance	0	13,000	13,000	Lake Maintenance	
Reserve	0	1,878	1,425	Reserve	
					
TOTAL EXPENDITURES	$	69,169	$	95,115	$	95,715		
					
REVENUES LESS EXPENDITURES	$	882,946	$	841,249	$	841,249		
					
Bond Payments - 2017	(196,983)	(194,335)	(194,335)	2026 Principal & Interest Payments	
Bond Payments - 2019	(604,740)	(590,768)	(590,768)	2026 Principal & Interest Payments	
					
BALANCE	$	81,223	$	56,146	$	56,146		
					
County Appraiser & Tax Collector Fee	(5,068)	(18,715)	(18,715)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(35,716)	(37,431)	(37,431)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	40,439	$	-	$	-		
					
Carryover Funds From Prior Year	0	0	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	40,439	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE (SERIES 2017) FUND BUDGET
GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	

FISCAL YEAR

2023/2024

ACTUAL	

FISCAL YEAR

2024/2025

BUDGET	

FISCAL YEAR

2025/2026

BUDGET	

COMMENTS	

Interest Income	
16,001	
400	
1,200	
Projected Interest For 2025/2026	

NAV Tax Collection	
196,983	
194,335	
194,335	
Maximum Debt Service Collection	

Total Revenues	
$	212,984	
$	194,735	
$	195,535		

EXPENDITURES					

Principal Payments	
60,000	
65,000	
65,000	
Principal Payment Due In 2026	

Interest Payments	
123,763	
120,163	
117,563	
Interest Payments Due In 2026	

Bond Redemption	
0	
9,572	
12,972	
Estimated Excess Debt Collections	

Total Expenditures	
$	183,763	
$	194,735	
$	195,535		

Excess/ (Shortfall)	

$	29,221	

$	-	

$	-		

Series 2017 Bond Information

Original Par Amount =	$2,870,000	Annual Principal Payments Due =	November 1st	
Interest Rate =	3.50% - 5.00%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	August 2017			
Maturity Date =

Par Amount As Of 1/1/25 =	November 2047

$2,510,000			

DETAILED PROPOSED DEBT SERVICE (SERIES 2019) FUND BUDGET
GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026 OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	

FISCAL YEAR

2023/2024

ACTUAL	

FISCAL YEAR

2024/2025

BUDGET	

FISCAL YEAR

2025/2026

BUDGET	

COMMENTS	

Interest Income	
38,632	
500	
1,200	
Projected Interest For 2025/2026	

NAV Tax Collection	
604,740	
590,768	
590,768	
Maximum Debt Service Collection	

Prepaid Bond Collection	
0	
0	
0		

Total Revenues	
$	643,372	
$	591,268	
$	591,968		

EXPENDITURES					

Principal Payments	
210,000	
210,000	
220,000	
Principal Payment Due In 2026	

Interest Payments	
385,488	
376,119	
368,769	
Interest Payments Due In 2026	

Transfer To Construction Fund	
15,615	
0	
0		

Bond Redemption	
0	
5,149	
3,199	
Estimated Excess Debt Collections	

Total Expenditures	
$	611,103	
$	591,268	
$	591,968		

Excess/ (Shortfall)	

$	32,269	

$	-	

$	-		

Series 2019 Bond Information

Original Par Amount =	$9,860,000	Annual Principal Payments Due =	November 1st	
Interest Rate =	3.00% - 4.75%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	August 2019			
Maturity Date =

Par Amount As Of 1/1/25 =	November 2049

$8,875,000			

Page 13

GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year
2021/2022	2022/2023	2023/2024	2024/2025	2025/2026
  Assessment*	 	Assessment*	 	Assessment*	 	Assessment*	 	Projected Assessment*	
Pod B
O & M For Single Family Residential (Pod B)	
$	89.15		
$	
111.35		
$	
111.35		
$	
111.35		
$	
111 35	
Debt For Single Family Residential (Pod B)	$	1,164.89		$	1,164.89		$	1,164.89		$	1,164.89		$	1,164 89	
Total For Single Family Residential (Pod B)	$	1,254.04		$	1,276.24		$	1,276.24		$	1,276.24		$	1,276 24	
O & M For Zero Lot Line Residential (Pod B)	$	89.15		$	111.35		$	111.35		$	111.35		$	111 35	
Debt For Zero Lot Line Residential (Pod B)	$	1,063.82		$	1,063.82		$	1,063.82		$	1,063.82		$	1,063 82	
Total For Zero Lot Line Residential (Pod B)	$	1,152.97		$	1,175.17		$	1,175.17		$	1,175.17		$	1,175 17	
O & M For Residential Townhomes (Pod B)	$	89.15		$	111.35		$	111.35		$	111.35		$	111 35	
Debt For Residential Townhomes (Pod B)	$	814.89		$	814.89		$	814.89		$	814.89		$	814 89	
Total For Residential Townhomes (Pod B)	$	904.04		$	926.24		$	926.24		$	926.24		$	926 24	
Pods C, D & E														
O & M For Single Family Residential (Pods C, D & E)	$	89.15		$	111.35		$	111.35		$	111.35		$	111 35	
Debt For Single Family Residential (Pods C, D & E)	$	1,159.28		$	1,159.28		$	1,159.28		$	1,159.28		$	1,159 28	
Total For Single Family Residential (Pod C, D & E)	$	1,248.43		$	1,270.63		$	1,270.63		$	1,270.63		$	1,270 63	
O & M For Zero Lot Line Residential (Pods C, D & E)	$	89.15		$	111.35		$	111.35		$	111.35		$	111 35	
Debt For Zero Lot Line Residential (Pods C, D & E)	$	1,058.70		$	1,058.70		$	1,058.70		$	1,058.70		$	1,058 70	
Total For Zero Lot Line Residential (Pods C, D & E)	$	1,147.85		$	1,170.05		$	1,170.05		$	1,170.05		$	1,170 05	
O & M For Residential Townhomes (Pods C, D & E)	$	89.15		$	111.35		$	111.35		$	111.35		$	111 35	
Debt For Residential Townhomes (Pods C, D & E)	$	810.97		$	810.97		$	810.97		$	810.97		$	810 97	
Total For Residential Townhomes (Pods C, D & E)	$	900.12		$	922.32		$	922.32		$	922.32		$	922 32	

* Assessments Include the Following:
4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

 Community Information:	
Pod B Units	
Total Units		
Single Family Residential:	1	Pod B Units	227	
Zero Lot Line Residential:	86	Pod C, D & E Units	676	
Residential Townhome Units	140
Total Units	227	Total Units	903	
Pod C, D & E Units			
Single Family Residential:	56	 Pod C, D & E Townhome Information		
Zero Lot Line Residential:	273	Total Units	347	
Residential Townhome Units	347	Prepayments	1	
Total Units	676	Billed For Debt	346	

V