MINUTES OF MEETING
OTC COMMUNITY DEVELOPMENT DISTRICT

A regular meeting of the Board of Supervisors of the OTC Community Development District was held Wednesday, February 13, 2019 at 10:30 a.m. at the offices of England-Thims & Miller, 14775 Old St. Augustine Road, Jacksonville, Florida 32258.

Present were: Michelle Pierce Rocky Morris Kurt von der Osten
Also present were: Jim Perry
Sarah Warren Jonathan Smith

FffiST ORDER OF BUSINESS

Chairperson Supervisor Supervisor

District Manager District Counsel
Katz Properties (by phone)

Roll Call

Mr. Perry called the meeting to order at 10:30 a.m.

SECOND ORDER OF BUSINESS	Audience Comments
There were no members of the public in attendance.

THIRD ORDER OF BUSINESS	Approval of the Minutes of the July 11, 2018
Meeting
There were no corrections to the minutes.

On MOTION by Mr. Morris seconded by Mr. von der Osten with all in favor the Minutes of the July 11, 2018 Meeting were approved.

FOURTH ORDER OF BUSINESS	Ratification	of Engagement Letter	from

Grau & Associates for FY 2018 Audit
Mr. Perry stated Grau is going to be wrapping up that audit before our next meeting in
May so they will need this engagement letter approved by the Board. This engagement letter has already been signed so we're just ratifying it.

February 13, 2019

OTCCDD

On MOTION by Ms. Pierce seconded by Mr. Morris with all in favor the engagement letter from Grau & Associates for the FY 2018 audit was ratified.

FIFTH ORDER OF BUSINESS	Consideration of Proposal from VGlobalTech
for ADA Website Conversion
Mr. Perry stated we will ask the Board to approve a formal agreement with VGlobalTech
that's been drafted by District Counsel and this proposal will be attached to it. The agreement provides for a lot more collars on the provisions of services to be in compliance and indemnifies the District and so forth. There have been a lot of lawsuits that have surfaced recently in regards to different cities and the local area of Flagler County just settled a lawsuit, as did the City of St. Augustine. We've done this for other Districts as well.

On MOTION by Mr. Morris seconded by Mr. von der Osten with all in favor the proposal from VGlobalTech was approved.

SIXTH ORDER OF BUSINESS	Other Business
There being none, the next item followed.

SEVENTH ORDER OF BUSINESS	Staff Reports
Attorney
There being none, the next item followed.
Engineer

There being none, the next item followed.

Manager
Mr. Perry stated we did file with the Duval County tax collector and property appraiser
the exemptions for the properties that the District owns.

EIGHTH ORDER OF BUSINESS	Supervisors'	Requests	and	Audience
Comments
There being none, the next item followed.

February  13, 2019	OTCCDD

NINTH ORDER OF BUSINESS	Financial Statements TENTH ORDER OF BUSINESS	Assessment Receipt Schedule
Mr. Perry stated you are 96.5% collected, which is great.

ELEVENTH ORDER OF BUSINESS	Approval of Check Register
Mr. Perry stated the check register totals $696,000. $645,000 of that is the transfer of
funds. They are deposited in from the tax collector in to the general fund and then we transfer the debt service component to the debt service fund account. We don't have that much in expenditures for this district, as you are well aware of.

On MOTION by Mr. von der Osten seconded by Mr. Morris with all in favor the Check Register was approved.

TWELFTH ORDER OF BUSINESS	Next Scheduled Meeting - May 8, 2019 at
10:30 a.m. at the Offices of England-Thims & Miller
Mr. Perry stated our next scheduled meeting will be May 8th at this location at 10:30 a.m.
and at that meeting we will start the budget process. We will propose a budget for approval at that meeting and at least 60 days after that we will do an adoption of the budget.
Mr. Morris stated I believe the meeting prior to the July meeting was when we had Sete Zare from the bond agency and she was going to come back with some type of proposal for refinancing. What is the latest on that?
Mr. Perry stated I'll double back with her. They were going to approach banks because it was going to be. a bank fmancing instead of an open market type. It appears most of the banks don't have the appetite for a district that is all commercial so it's going to be a hard sale, even with how built out it is which seems strange but their preference would be a district that has commercial and retail as a component along with the residential. I guess they're looking at their exposure in the event there is another recession.
THIRTEENTH ORDER OF BUSINESS	Adjournment

On MOTION by Ms. Pierce seconded by Mr. von der Osten with all in favor the meeting was adjourned.

February 13, 2019	OTCCDD

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Chairman/Vice Chairman

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