Feed Mill
Community Development District

Board of Supervisors’
Meeting
August 27, 2025
District Office: 2806 N. Fifth Street Unit 403
St. Augustine, FL 32084

FEED MILL
COMMUNITY DEVELOPMENT DISTRICT

1845 Town Center Blvd, Suite 105, Fleming Island, FL 32003

Board of Supervisors	Daniel McCormick Jeremy Hampson Gerald Agresti Clay Crevasse Liam O’Reilly	Chairman Board Member
Assistant Secretary Assistant Secretary Assistant Secretary	
District Manager	Lesley Gallagher	Rizzetta & Company, Inc.	
District Manager	Melissa Dobbins	Rizzetta & Company, Inc.	
District Counsel	Katie Buchanan	Kutak Rock, LLP	
District Engineer	Daniel Welch	England-Thims & Miller	

All cellular phones must be placed on mute while in the meeting room.

The Audience Comments portion will be held at the beginning of the meeting. During this portion of the agenda, audience members may make comments on matters that concern the District (CDD) and will be limited to a total of three (3) minutes to make their comments.

Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this meeting/hearing/workshop is asked to advise the District Office at least forty-eight (48) hours before the meeting/hearing/workshop by contacting the District Manager at (239) 936-0913. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY)
1-800-955-8770 (Voice), who can aid you in contacting the District Office.

A person who decides to appeal any decision made at the meeting/hearing/workshop with respect to any matter considered at the meeting/hearing/workshop is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made including the testimony and evidence upon which the appeal is to be based.

FEED MILL COMMUNITY DEVELOPMENT DISTRICT

District Office · St. Augustine, Florida · (904) 436-6270
Mailing Address – 3434 Colwell Avenue, Suite 200, Tampa, Florida 33614

Board of Supervisors	August 20, 2025
Feed Mill Community Development District
FINAL AGENDA
Dear Board Members:
The regular meeting of the Board of Supervisors of the Feed Mill Community Development District will be held on August 27, 2025 at 9:00 a.m. at 1845 Town Center Blvd., Suite 105 Fleming Island, Florida 32003.
CALL TO ORDER/ROLL CALL
AUDIENCE COMMENTS
BUSINESS ADMINISTRATION
Consideration of the Minutes of the Board of Supervisors’ Special Meeting
Held July 23, 2025	Tab 1
Ratification of the Operation and Maintenance Expenditures for
July 2025	Tab 2
Consideration of Resolution 2025-09, Redesignating Vice Chairman	Tab 3
Staff Reports
District Counsel
District Engineer
District Manager
Business Items
Consideration of First Supplemental Engineers Report to the Capital
Improvement Plan Dated August 1, 2025	Tab 4
Consideration of Preliminary Supplemental Special Assessment Allocation
Report – Parcel 1 – Assessment Area One	Tab 5
Consideration of Ancillary Documents – (Under Separate Cover)
Acquisition Agreement
Collateral Assignment
Completion Agreement
True Up Agreement
Declaration of Consent
Consideration of Resolution 2025-11, Supplemental Assessment – (Under Separate Cover)
Public Hearing on Fiscal Year 2025-2026 Budget	Tab 6
1.) Consideration of Resolution 2025-12, Adopting Fiscal Year 2025-2026 Budget
Public Hearing on Special Assessments
1.) Consideration of Resolution 2025-13, Imposing Special Assessments –
(Under Separate Cover)
Consideration of Deficit Funding Agreement – (Under Separate Cover)
Consideration of Resolution 2025-14, Setting Fiscal Year 2025-26 Regular
Meeting Dates	Tab 7
Supervisor Requests
Adjournment
We look forward to seeing you at the meeting. In the meantime, if you have any questions, please do not hesitate to call us at 904-436-6270.
Very truly yours,	Lesley Gallagher,	District Manager

4927-6268-9551.1

Tab 1

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
July 23, 2025 Minutes of Meeting
Page 1

1	MINUTES OF MEETING
2
Each person who decides to appeal any decision made by the Board with respect to any
matter considered at the meeting is advised that the person may need to ensure that a
verbatim record of the proceedings is made, including the testimony and evidence upon which
such appeal is to be based.
7
8	FEED MILL
9	COMMUNITY DEVELOPMENT DISTRICT
10
11	The meeting of the Board of Supervisors of Feed Mill Community Development District
12  was held on July 23, 2025 at 9:00 a.m. at 1845 Town Center Blvd, Suite 105, Fleming Island,
13  FL 32003.
14
15
16	Present and constituting a quorum:
17
18	Daniel McCormick	Board Member, Chairman
19	Gerald Agresti	Board Member, Assistant Secretary
20	Clayton Crevasse	Board Member, Assistant Secretary
21	Liam O’Reilly	Board Member, Assistant Secretary
22
23
24	Also present were:
25
26	Lesley Gallagher	District Manager, Rizzetta & Company, Inc.
27	Katie Buchanan	District Counsel, Kutak Rock LLP (via speakerphone)
28	Dan Welch	District Engineer, England-Thims & Miller (via speakerphone)
29
30
31  FIRST ORDER OF BUSINESS	CALL TO ORDER
32
33  Ms. Gallagher called the meeting to order at 9:02 a.m.
34
35  SECOND ORDER OF BUSINESS	AUDIENCE COMMENTS
36
37  There were no audience members present.
38
39  THIRD ORDER OF BUSINESS	CONSIDERATION OF THE MINUTES OF THE
40	BOARD	OF	SUPERVISORS’	SPECIAL
41	MEETING HELD MAY 27, 2025

On a motion by Mr. McCormick, seconded by Mr. Crevasse, with all in favor, the Board approved minutes of the Board of Supervisors’ special meeting held May 27, 2025, for Feed Mill Community Development District.

42

43
44
45
46

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
July 23, 2025 Minutes of Meeting
Page 2
47							
48							
49							
50	FOURTH ORDER OF BUSINESS	RATIFICATION	OF	THE	OPERATION	AND	
51		MAINTENANCE EXPENDITURES FOR		
52		MAY 2025 AND JUNE 2025		
53							
On a motion by Mr. McCormick, seconded by Mr. Crevasse, with all in favor, the Board ratified	
operation and maintenance expenditures for May 2025, in the amount of $21,713.14, and	
June 2025, in the amount of $10,427.25, for Feed Mill Community Development District.	
54
55  FIFTH ORDER OF BUSINESS	APPOINTMENT TO VACANT SEAT
56
57	It was noted that Mr.Smith did not fill the vacant seat and the Board then appointed
58  Jeremy Hampson to the seat that remained open.

On a motion by Mr. Agresti, seconded by Mr. McCormick, with all in favor, the Board appointed Jeremy Hampson to the vacant seat previously held by Mr. McCollum, for Feed Mill Community Development District.

59

60
61	1.) Oath of Office
62
63	Mr. Hampson was not present to take his oath so this item was tabled.
64
65  SIXTH ORDER OF BUSINESS	CONSIDERATION OF RESOLUTION 2025-09,
66	REDESIGNATING VICE CHAIRMAN
67
68	This item was tabled.
69
70  SEVENTH ORDER OF BUSINESS	STAFF REPORTS
71
72	A.	District Counsel
73
74	Ms. Buchanan had no report but was available to answer questions
75
76	B.	District Engineer
77
78	Mr. Welch was available to answer questions.
79
80	C.	District Manager	
81			
82	Ms. Gallagher reviewed that the public hearing for the budget and assessments was	
83	scheduled for the August 27th meeting and she would also be including the resolution for the	
84	fiscal year 2025/26 meeting schedule on this agenda. The Board directed her to use the same	
85	schedule as the current fiscal year when working on the proposed schedule to present to the	
86	Board. The Board also authorized the District Manager to work with the Chairman between	
87	meetings if need to secure FY 25/26 insurance policies.	
88		
89		

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
July 23, 2025 Minutes of Meeting
Page 3
90							
91	EIGHTH ORDER OF BUSINESS	RATIFICATION	OF	CHANGE	ORDER	#2	
92		PHASE 1A					
93							
On a motion by Mr. McCormick, seconded by Mr. Crevasse, with all in favor, the Board ratified	
Change Order #2 Phase 1A, for Feed Mill Community Development District.	
94							
95	NINTH ORDER OF BUSINESS	CONSIDERATION OF ACQUISITION OF		
96		CCUA PROJECT DESIGN WORK		
97				
It was noted that there are two acquisition packages for the CCUA project design work,
one for ETM and one that included various entities. The Board approved both acquisition
packages for CCUA design work in substantial form.
101
On a motion by Mr. McCormick, seconded by Mr. Crevasse, with all in favor, the Board approved both acquisition packages for the CCUA Project Design Work in substantial form, for Feed Mill Community Development District.
102
TENTH ORDER OF BUSINESS	CONSIDERATION OF REQUEST FOR
REIMBURSEMENT CCUA
105
106	Ms. Buchanan reviewed that it is unclear what form CCUA will require the reimbursement
107  request to be received but is requesting approval from the Board to submit the request for
108 reimbursement pursuant to the interlocal agreement once the district finalizes the acquisition.
109
On a motion by Mr. McCormick, seconded by Mr. Crevasse, with all in favor, the Board approved submitting the request for reimbursement to CCUA upon finalization of the acquisition, for Feed Mill Community Development District.
110
111  ELEVENTH ORDER OF BUSINESS	SUPERVISOR REQUESTS
112
113  No Supervisor requests
114
115  TWELFTH ORDER OF BUSINESS	ADJOURNMENT
116
On a motion by Mr. Agresti, seconded by Mr. McCormick, with all in favor, the Board adjourned meeting at 9:09 a.m. and approved a continuance will be scheduled, for Feed Mill Community Development District.
117
118
119
120
121
122
123
124
125
126

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
July 23, 2025 Minutes of Meeting
Page 4

127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
 		 	
Secretary/Assistant Secretary	Chairman/Vice Chairman

Tab 2

Feed Mill Community Development District

District Office · St. Augustine, Florida · (904) 436-6270
Mailing Address · 3434 Colwell Avenue, Suite 200 · Tampa, Florida 3361

Operation and Maintenance Expenditures July 2025
For Board Approval

No Operation and Maintenance Expenses were paid from July 1, 2025 through July 31, 2025. Therefore, there are no new items to present at this time.

Approval of Expenditures:

	Chairman

	Vice Chairman

	Assistant Secretary

Tab 3

RESOLUTION 2025-09

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FEED MILL COMMUNITY DEVELOPMENT DISTRICT REDESIGNATING THE ASSISTANT SECRETARY OF THE DISTRICT, AND PROVIDING FOR AN EFFECTIVE DATE

WHEREAS, the Feed Mill Community Development District (the "District") is a local unit of special-purpose government organized and existing in accordance with Chapter 190, Florida Statutes, and situated entirely within Clay County, Florida; and

WHEREAS, the Board of Supervisors (hereinafter the “Board”) previously designated Michael McCollum as Vice Chairman pursuant to Resolution 2025-03.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE FEED MILL COMMUNITY DEVELOPMENT DISTRICT:

Section 1.  	 is appointed Vice Chairman.

Section 2.   This Resolution shall become effective immediately upon its adoption.

PASSED AND ADOPTED THIS 27th DAY OF AUGUST 2025.

ATTEST:	FEED MILL
COMMUNITY DEVELOPMENT DISTRICT

ASSISTANT SECRETARY	CHAIRMAN/VICE CHAIRMAN

Tab 4

FEED MILL
COMMUNITY DEVELOPMENT DISTRICT FIRST SUPPLEMENTAL ENGINEERS REPORT TO THE
CAPITAL IMPROVEMENT PLAN

Prepared for

Board of Supervisors Feed Mill
Community Development District

Prepared by
England-Thims & Miller, Inc. 14775 Old St. Augustine Road Jacksonville, Florida 32258
904-642-8990

E 14-011-29005	August 1, 2025
V. 3

BACKGROUND
The Feed Mill Community Development District (the “District”) is a 1,035.55± acre community development district located in Clay County, Florida. (See Plate 1, Location Map). The land within the District is partially undeveloped with ongoing construction of infrastructure improvements and with a defined wetland tributary of Peters Creek bifurcating the development into two parcels referred to as Parcel 1 and Parcel 4. The authorized land uses within the District include residential development as well as open space and recreational amenities. The District is just south and adjacent to Cathedral Oak Parkway, which is under construction by Clay County with an anticipated completion date of Late Summer 2025. Cathedral Oak Parkway will provide a roadway connection between Parcel 1 and Parcel
4. The full development within the District’s boundaries is as depicted in Table 1 and Table 2.
The District previously adopted the Feed Mill Community Development District Capital Improvement Plan, dated February 12, 2025, describing public improvements planned for the District (the “Capital Improvement Plan”).

TYPE	Parcel 1 Area
(Acres)	Parcel 4 Area
(Acres)	Total Area
(Acres)	
Residential	307.05	296.11	603.16	
Parks and Open Space	99.94	79.25	179.19	
Wetlands	109.91	113.56	223.47	
Upland Buffer	6.18	23.55	29.73	
TOTALS	523.08	512.47	1035.55	

TABLE 1 DEVELOPMENT ACREAGE SUMMARY

UNIT TYPE	Parcel 1	Parcel 4	TOTAL	
MFR 25'	250	0	250	
SF 40’	236	215	451	
SF 50’	416	514	930	
SF 60’	253	248	501	
TOTALS	1,155	977	2,132	

TABLE 2 DEVELOPMENT UNIT SUMMARY

Plate 2A depicts the District boundary and Plate 3A provides the legal description of the District. The current proposed Neighborhood Master Plan is depicted on Plate 14. The currently proposed development program for the Parcel 1 – Assessment Area One project is presented below in Table 3. The currently proposed boundary and legal description for Parcel 1 – Assessment Area One is depicted on Plates 2B and 3B.

1

TABLE 3

Parcel 1 – Assessment Area One DEVELOPMENT PROGRAM

UNIT TYPE	Parcel 1 -	
	Assessment	
	Area One	
MFR 25'	0	
SF 40’	134	
SF 50’	284	
SF 60’	193	
TOTALS	611	
To serve the residents of the District, the District has developed this Supplemental Engineer’s Report (this "Report") to describe the improvements included in the first phases of its Capital Improvement Plan within the Parcel 1 – Assessment Area One project, including certain utility, stormwater management, amenity and transportation infrastructures necessary for development within the District. Summaries of the proposed improvements and corresponding cost estimates follow in Table 4. A description and basis of costs for each improvement category is included in this Report.

Parcel 1 – Assessment Area One Project

Parcel 1 – Assessment Area One consists of approximately 208.94 gross acres and is planned to contain approximately 611 residential units. The District is issuing its Capital Improvement Revenue Bonds, Series 2025-1 (Parcel 1 – Assessment Area One) to finance a portion of the Parcel 1 – Assessment Area One project and its proportionate share of the Shared Master Infrastructure Improvements described herein. The Parcel 1 – Assessment Area One project consists of those portions of the Capital Improvement Plan associated with the development of Saratoga Springs Phase 1A & 1B and has a total estimated cost of $59,611,472 as more particularly described herein.

The description of the Parcel 1 – Assessment Area One project contained in this Report reflects the current intentions of the District. However, the projects may be subject to modification in the future. The implementation of any improvement outlined within this Report requires final approval by the District’s Board of Supervisors.

Design and permitting for the improvements described in this Report is ongoing, and a tentative schedule is provided below:
Parcel 1 – Assessment Area One (Parcel 1 – Phase 1A and Phase 1B)

ITEM	ESTIMATED AGENCY APPROVAL DATE	
1. CCUA (Phase 1A)	Received January 2025	
2. SJRWMD (Phase 1A)	Received January 2025	
3. Clay County (Phase 1A)	Received January 2025	
4. CCUA (Phase 1B)	Received June 2025	
5. SJRWMD (Phase 1B)	Received April 2025	
6. Clay County (Phase 1B)	Received July 2025	
7. ACOE Environmental	Anticipated September 2025	
2

*Phase 1A is currently anticipated to achieve substantial completion first quarter of 2027. Currently, there are five lots within Parcel 1 – Assessment Area One that are within the ACOE Environmental wetland impact areas.
Offsite Utility Improvements

ITEM	ESTIMATED AGENCY APPROVAL DATE	
1. CCUA	Received November 2024	
2. SJRWMD	Received October 2024	
3. Clay County	Received November 2024	
4. ACOE Environmental	N/A	
5. FDEP – Water and Sewer	Received December 2024	
*Offsite Utility Improvements are currently anticipated to achieve substantial completion third quarter of 2026.

A jurisdictional wetland delineation for the entire property within the District has been completed and approved by the St. Johns River Water Management District (SJRWMD) and Army Corps of Engineers (ACOE). There is a reasonable expectation that the remaining required permits for the District improvements are obtainable, however, all permits are subject to final agency action.
Cost estimates contained in this Report are based upon year 2025 dollars and have been prepared based upon the best available information, but in some cases without benefit of final engineering design and environmental permitting. England-Thims & Miller, Inc. believes the estimates to be accurate based upon the available information, however, actual costs will vary based on final engineering, planning and approvals from regulatory agencies.
The overall Capital Improvement Plan will be built in a series of phases. Such phasing allows the clearing, earthwork, stormwater management systems, roadways, water, sewer, reclaimed water, entry features, recreational areas, landscaping, sidewalks and paths to be constructed as needed throughout the build-out of the District. While the Capital Improvement Plan is a system of improvements, the Parcel 1 – Assessment Area One project has been designed in such a manner so that Phase 1A can be developed and be self-sufficient, completely separate from Phase 1B, etc. The Parcel 1 – Assessment Area One project comprise the first phase of development within the District and are enumerated in Table 4 below.

3

TABLE 4

Parcel 1 – Assessment Area One Summary of Infrastructure Costs

Improvement Description	
Parcel 1 – Assessment Area One Shared Master Infrastructure
Estimated Cost	

Parcel 1 – Assessment Area One Master Infrastructure
Estimated Cost	

Total Estimated Cost	
CR315 Improvements	$254,440	$0	$254,440	
Subdivision Roadway Construction	$0	$6,581,995	$6,581,995	
Lift Stations, Potable Water, Reclaimed Water, and Sewer	$0	$11,311,003	$11,311,003	
Hardscape, Landscape, Irrigation, Fencing, and Signage	$833,250	$1,915,000	$2,748,250	
Amenity Center and Community Parks	$6,870,000	$0	$6,870,000	
Stormwater Management Facilities, Flood Control and
Drainage Collection System	$0	$15,058,646	$15,058,646	
Planning, Engineering, Survey, and Regulatory	$1,273,230	$5,578,663	$6,851,893	
Contingency (20%)	$1,846,184	$8,089,061	$9,935,245	
INFRASTRUCTURE COST TOTAL	$11,077,104	$48,534,369	$59,611,472	

(Notes: Cost estimates in this Report are based upon 2025 dollars.)

4

SHARED MASTER INFRASTRUCTURE IMPROVEMENTS

TRANSPORTATION IMPROVEMENTS
The District currently intends to finance certain transportation facilities necessary for development within and adjacent to the District boundaries. These transportation improvements will be owned and maintained by Clay County (as appropriate) upon completion of construction. These transportation improvements have been designed and will be constructed to Clay County and SJRWMD standards.
A description of the Shared Master Infrastructure transportation improvement follows.
CR 315 TURN LANE

The proposed single-family development within Parcel 1 – Assessment Area One will require an access point off CR 315. The access point will require improvements to CR 315 to accommodate left and right turn lanes off CR 315 into the development. These improvements are depicted on Plate 6. The cost estimate includes design, permitting, demolition of the existing asphalt and associated infrastructure, signalization, roadway construction, stormwater infrastructure, maintenance of traffic, Construction Engineering and Inspection (CEI), signage, landscape, hardscape and irrigation.

UTILITY IMPROVEMENTS

The District currently intends to finance certain offsite and onsite utility infrastructure necessary for development within the District boundaries. These improvements will be designed and constructed to Clay County Utility Authority (CCUA) and Florida Department of Environmental Protection (FDEP) standards and will be owned and maintained by CCUA. Certain utility improvements may be funded by CCUA through an MSBU Program, which includes the water, sewer, and reclaimed water main.

FORCEMAIN COLLECTION SYSTEM
The proposed improvement involves the construction of approximately 4,850 linear feet of force main along subdivision local roads to a lift station and future lift stations within Parcel 1 as depicted on Plate 5 and Plate 12. These improvements are required to serve Parcel 1 – Assessment Area One and future Parcel 1 Phases.
PUMP STATIONS

The proposed improvement involves the construction of one CCUA lift stations that will provide service to all of the lots within the District. This location is depicted on Plate 12. These improvements are required to serve Parcel 1 – Assessment Area One and future Parcel 1 Phases.

5

RECREATIONAL IMPROVEMENTS

The District may finance and construct recreational facilities for the joint use of the District residents. The basic components of these facilities may include, but are not limited to:

Clubhouse
Fitness center and associated equipment
Tennis court
Bathrooms and locker area
Family pool
Playground equipment
Barbeque grills and picnic tables
Parking
Landscape, irrigation, hardscape and lighting
Trails
Community garden
Multi-use fields

6

BASIS OF COST ESTIMATE FOR SHARED MASTER INFRASTRUCTURE IMPROVEMENTS

The following is the basis for the Shared Master Infrastructure cost estimates where actual project bid information is not available:

Water and sewer facilities have been designed in accordance with CCUA and FDEP Standards.

The stormwater management system has been designed in accordance with Clay County, FDEP and SJRWMD requirements.

Costs utilized for roadways include signage and were obtained from recent bids.
The typical roadway sections utilized for the roadway cost estimates are enclosed.
Costs have been included for excavation of material that may be unsuitable for the placement of structural fill.

The engineering/permitting fees and other professional fees, including but not limited to, design, permitting, geotechnical, environmental, construction engineering/inspection and legal services are included in the estimate.
For the purposes of this Report, a 20% contingency factor has been included.

Cost estimates contained in this Report are based upon year 2025 dollars and have been prepared based upon the best available information, but in some cases, without benefit of final engineering design and environmental permitting. England-Thims & Miller, Inc. believes the enclosed estimates to be accurate based upon the available information, however, actual costs will vary based upon final engineering, planning and approvals from regulatory authorities.

7

RESIDENTIAL MASTER INFRASTRUCTURE IMPROVEMENTS

The District currently intends to finance, design and construct certain infrastructure improvements for the residential development within the District boundaries. The improvements that the District currently intends to finance include complete construction of the basic infrastructure for each neighborhood within the District, including but not limited to: clearing and onsite grubbing, earthwork, local roadways, stormwater management, flood control, subsurface drainage improvements, potable water, reclaimed water and sanitary sewer underground utility construction, drainage, grassing, and sodding. These items have been grouped into the broader categories listed in Table 3, as appropriate. Refer to Plates 7-12 for the Residential Master Infrastructure Improvements.

LOCAL NEIGHBORHOOD ROADWAYS
The District currently intends to finance the local roadways within the Parcel 1 – Assessment Area One project within the District boundary. These improvements are based upon a 24 foot pavement width, curb and gutter section roadway, within a 60 foot wide right-of-way. These improvements shall be designed and constructed to Clay County and SJRWMD standards.

DRAINAGE/FLOOD CONTROL
The District currently intends to finance certain surface and subsurface drainage improvements necessary for development within the District boundaries. This section of infrastructure includes clearing, grubbing, roadway storm sewer collection system, stormwater management facilities, flood control, groundwater control, surface and subsurface drainage improvements. Cost estimates include stormwater pond construction, drainage catch basins, inlets, underground storm piping within roadways, control structures, grading, sod and seeding as required for sediment and erosion control, etc. The clearing, grubbing and earthwork estimates include all work necessary for the complete right- of-way area, utility easements, and surrounding residential areas as necessary to provide a complete stormwater management system. Stormwater management facilities provide for the attenuation and treatment of stormwater runoff from the project in accordance with SJRWMD and Clay County standards. As part of the complete stormwater management system, earthwork will include portions of residential lots as needed to collect stormwater runoff into the stormwater management facilities. This earthwork will include placing fill above the 100-year pond design high water elevation to provide positive discharge from the residential lots to the storm sewer collection system. The District does not intend to finance any final lot grading. These improvements are required to serve Parcel 1 – Assessment Area One and future Parcel 1 Phases.

LOCAL WATER, RECLAIMED WATER, AND SANITARY SEWER
Water, sanitary sewer and reclaimed water cost estimates included in the Residential Master Infrastructure Improvements consist of the underground water and reclaimed water transmission systems andwastewater (sewer) collection system serving the development. Costs include piping, manholes, valves, services, and all appurtenances required in order to construct the system in accordance with CCUA and FDEP standards. These improvements are required to serve Parcel 1 – Assessment Area One and future Parcel 1 Phases.

8

BASIS OF COST ESTIMATE FOR RESIDENTIAL MASTER  INFRASTRUCTURE IMPROVEMENTS

The following is the basis for the Residential Master Infrastructure cost estimates:
Water and sewer facilities have been designed in accordance with CCUA and FDEP Standards.

The stormwater management system has been designed in accordance with Clay County, FDEP and SJRWMD requirements.

Costs utilized for roadways include signage and were obtained from recent bids.
The typical roadway sections utilized for the roadway cost estimates are enclosed.

Costs have been included for excavation of material that may be unsuitable for the placement of structural fill.

The engineering/permitting fees and other professional fees, including but not limited to, design, permitting, geotechnical, environmental, construction engineering/inspection and legal services are included in the estimate.

For the purposes of this Report, a 20% contingency factor has been included.
Cost estimates contained in this Report are based upon year 2025 dollars and have been prepared based upon the best available information, but in some cases, without benefit of final engineering design and environmental permitting. England-Thims & Miller, Inc. believes the enclosed estimates to be accurate based upon the available information, however, actual costs will vary based upon final engineering, planning and approvals from regulatory authorities.

9

APPENDIX
Description

General Location Map
Boundary
District Boundary
Parcel 1 – Assessment Area One
Legal Description
District Boundary
Parcel 1 – Assessment Area One
Future Land Use Map
Master Utility Improvements
Water Transmission Facility
Sewer Transmission Facility
Reclaimed Water Transmission Facility
Shared Master Transportation Improvements
Local Roadway Typical Section
Reclaimed Water Distribution System
Water Distribution System
Sanitary Sewer Collection System
Stormwater Management System
Residential Roadways
Recreational Improvements
Neighborhood Master Plan

10

First Coast Expwy

General Location

Feed Mill Community Development District

Source: ETM, Clay County

Ct

Simmons Tr

Henley Rd

Sandridge Rd

Feed Mill CDD

Nipa Dr

n

Manhattan Av

V	Pl

op Bl

County Road 218

County Road 315

Medinah Ln

0	1	2

Miles

Toms Ct

N Kentucky Av

Little Dairy Rd

Paso Fino Rd

Ron Rd

Jims Ct

Eds Ct

Knowles Rd

105

Jacksonville

10

295

295

16

State Road 16 W

Whisper Tr

Haymon Av

Studio Rd

Wiseman Rd

Murrhee Rd

Dwight St Morton St

Saunders Rd

Gary Rd

Caroline Blvd

Springbank Rd

Adams Rd

G:\14-011\14-011-29 - Saratoga Springs\14-011-29005 -

Date: 4/16/2024

VISION - EXPERIENCE - RESULTS ENGLAND - THIMS & MILLER, INC.

VISION - EXPERIENCE - RESULTS ENGLAND - THIMS & MILLER, INC.

A PORTION OF SECTION 36, TOWNSHIP 5 SOUTH, RANGE 25 EAST, TOGETHER WITH A PORTION OF SECTIONS 31 AND 32, TOWNSHIP 5 SOUTH, RANGE 26 EAST, AND A PORTION OF SECTION 6, TOWNSHIP 6 SOUTH, RANGE 26 EAST, ALL LYING IN CLAY COUNTY, FLORIDA, TOGETHER WITH TRACT “C”, AS DEPICTED ON CATHEDRAL OAK PARKWAY PHASE 1 REPLAT, RECORDED IN PLAT BOOK 71, PAGES 22 THROUGH 25, BEING A PORTION OF THOSE LANDS DESCRIBED IN OFFICIAL RECORDS BOOK 1863, PAGE 1745, OF THE PUBLIC RECORDS OF SAID COUNTY, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

FOR A POINT OF BEGINNING, COMMENCE AT THE NORTHWEST CORNER OF SAID SECTION 6, SAID CORNER ALSO BEING THE NORTHEAST CORNER OF SECTION 1, TOWNSHIP 6 SOUTH, RANGE 25 EAST; THENCE SOUTH 89°29'14” WEST, ALONG THE NORTHERLY LINE OF SAID SECTION 1, A DISTANCE OF 5299.37 FEET TO THE NORTHWEST CORNER THEREOF, SAID CORNER ALSO BEING THE SOUTHEAST CORNER OF SECTION 35, TOWNSHIP 5 SOUTH, RANGE 25 EAST; THENCE NORTH 00°45'58” EAST, ALONG THE EAST LINE OF SAID SECTION 35, A DISTANCE OF 2672.52 FEET TO A POINT LYING ON THE SOUTHERLY RIGHT OF WAY LINE OF CATHEDRAL OAK PARKWAY, A VARIABLE WIDTH RIGHT OF WAY AS DEPICTED ON CATHEDRAL OAK PARKWAY PHASE 1 SECOND REPLAT, RECORDED IN PLAT BOOK 73, PAGES 6 THROUGH 14, OF SAID PUBLIC RECORDS; THENCE NORTHEASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE AND ALONG THE ARC OF A NON-TANGENT CURVE CONCAVE NORTHWESTERLY HAVING A RADIUS OF 2380.00 FEET, THROUGH A CENTRAL ANGLE OF 05°40'46”, AN ARC LENGTH OF 235.92 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 62°04'08” EAST, 235.82 FEET; THENCE NORTH 59°13'45” EAST, CONTINUING ALONG SAID SOUTHERLY RIGHT OF WAY LINE, 71.83 FEET TO THE WESTERLY MOST CORNER OF TRACT “B”, AS DEPICTED ON CATHEDRAL OAK PARKWAY PHASE 1 REPLAT, RECORDED IN PLAT BOOK 71, PAGES 22 THROUGH 25, OF SAID PUBLIC RECORDS; THENCE SOUTHEASTERLY, EASTERLY AND NORTHEASTERLY ALONG THE BOUNDARY LINE OF SAID TRACT “B” THE FOLLOWING 5 COURSES: COURSE 1, THENCE SOUTHEASTERLY ALONG THE ARC OF A NON-TANGENT CURVE CONCAVE SOUTHWESTERLY HAVING A RADIUS OF 34.20 FEET, THROUGH A CENTRAL ANGLE OF 75°02'48”, AN ARC LENGTH OF 44.79 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 63°05'32” EAST, 41.66 FEET; COURSE 2, THENCE SOUTH 25°04'00” EAST, ALONG A NON-TANGENT LINE, 31.03 FEET; COURSE 3, THENCE NORTH 64°59'52” EAST, 92.00 FEET; COURSE 4, THENCE NORTH 24°59'20” WEST, 23.50 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE EASTERLY HAVING A RADIUS OF 59.72 FEET; COURSE 5, THENCE NORTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 70°30'00”, AN ARC LENGTH OF 73.48 FEET TO A POINT LYING ON SAID SOUTHERLY RIGHT OF WAY LINE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 10°19'20” EAST, 68.93 FEET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE THE FOLLOWING 37 COURSES: COURSE 1, THENCE NORTH 59°13'45” EAST, ALONG SAID SOUTHERLY RIGHT OF WAY LINE, 1300.00 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 2220.00 FEET; COURSE 2, THENCE EASTERLY CONTINUING ALONG SAID SOUTHERLY RIGHT OF WAY LINE AND ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 23°57'17”, AN ARC LENGTH OF 928.16 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 71°12'24” EAST, 921.41 FEET; COURSE 3, THENCE SOUTH 00°13'32” WEST, ALONG A NON-TANGENT LINE, 101.98 FEET; COURSE 4, THENCE SOUTH 89°46'28” EAST, 88.00 FEET; COURSE 5, THENCE NORTH 00°13'32” EAST, 111.07 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHERLY HAVING A RADIUS OF 2220.00 FEET; COURSE 6, THENCE EASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 22°32'47”, AN ARC LENGTH OF 873.59 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 83°15'34” EAST, 867.96 FEET; COURSE 7, THENCE SOUTH 71°54'27” EAST, ALONG A NON-TANGENT LINE, 315.87 FEET; COURSE 8, THENCE SOUTH 17°55'18” WEST, 25.92 FEET; COURSE 9, THENCE SOUTH 72°00'40” EAST, 40.00 FEET; COURSE 10, THENCE NORTH 17°55'02” EAST, 26.00 FEET; COURSE 11, THENCE SOUTH
71°59'22” EAST, 828.15 FEET; COURSE 12, THENCE SOUTH 27°13'54” EAST, 66.33 FEET; COURSE 13, THENCE SOUTH 17°40'24” WEST, 15.75 FEET; COURSE 14, THENCE SOUTH 71°56'42” EAST, 50.09 FEET; COURSE 15, THENCE NORTH 17°53'18” EAST, 62.78 FEET; COURSE 16, THENCE SOUTH 71°59'11” EAST, 733.04 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 2162.99 FEET; COURSE 17, THENCE EASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 00°25'04”, AN ARC LENGTH OF 15.77 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 72°11'43” EAST, 15.77 FEET; COURSE 18, THENCE SOUTH 17°35'45” WEST, ALONG A NON-TANGENT LINE,
50.00 FEET; COURSE 19, THENCE SOUTH 73°21'50” EAST, 74.13 FEET; COURSE 20, THENCE NORTH 15°40'35” EAST, 50.00 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 2162.99 FEET; COURSE 21, THENCE EASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 19°44'10”, AN ARC LENGTH OF 745.06 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 84°11'29” EAST, 741.38 FEET; COURSE 22, THENCE SOUTH 04°34'58” EAST, ALONG A NON-TANGENT LINE, 25.95 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 2188.99 FEET; COURSE 23, THENCE EASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 01°02'27”, AN ARC LENGTH OF 39.76 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 85°24'50” EAST, 39.76 FEET; COURSE 24, THENCE NORTH 04°34'58” WEST, ALONG A NON-TANGENT LINE, 25.95 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 2162.99 FEET; COURSE 25, THENCE EASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 13°20'41”, AN ARC LENGTH OF 503.78 FEET TO A POINT OF REVERSE CURVATURE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 78°12'54” EAST, 502.64 FEET; COURSE 26, THENCE EASTERLY ALONG THE ARC OF A NON-TANGENT CURVE CONCAVE SOUTHERLY HAVING A RADIUS OF 2003.00 FEET, THROUGH A CENTRAL ANGLE OF 21°53'04”, AN ARC LENGTH OF 765.05 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 82°29'50” EAST, 760.41 FEET; COURSE 27, THENCE SOUTH 03°25'34” WEST, ALONG A NON-TANGENT LINE, 5.00 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHERLY HAVING A RADIUS OF 1998.00 FEET; COURSE 28, THENCE EASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 24°44'50”, AN ARC LENGTH OF 862.97 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 74°12'00” EAST, 856.28 FEET; COURSE 29, THENCE NORTH 28°10'55” EAST, ALONG A NON-TANGENT LINE, 20.00 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHWESTERLY HAVING A RADIUS OF 2018.00 FEET; COURSE 30, THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 13°52'45”, AN ARC LENGTH OF 488.83 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 54°53'56” EAST, 487.64 FEET; COURSE 31, THENCE SOUTH 47°56'37” EAST, ALONG A NON-TANGENT LINE, 131.94 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 2148.00 FEET; COURSE 32, THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 15°34'43”, AN ARC LENGTH OF 584.04 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 55°43'59” EAST, 582.24 FEET; COURSE 33, THENCE SOUTH 26°00'29” WEST, ALONG A NON-TANGENT LINE, 58.01 FEET; COURSE 34, THENCE SOUTH 64°05'01” EAST, 50.00 FEET; COURSE 35, THENCE NORTH 26°00'29” EAST, 58.10 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 2148.00 FEET; COURSE 36, THENCE EASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 26°29'04”, AN ARC LENGTH OF 992.90 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 78°05'54” EAST, 984.08 FEET; COURSE 37, THENCE NORTH 88°39'34” EAST, 396.90 FEET TO A POINT LYING ON THE WESTERLY RIGHT OF WAY LINE OF COUNTY ROAD NO. 315, AN 80 FOOT RIGHT OF WAY AS PRESENTLY ESTABLISHED; THENCE SOUTH 01°47'04” WEST, DEPARTING SAID SOUTHERLY RIGHT OF WAY LINE AND ALONG SAID WESTERLY RIGHT OF WAY LINE, 609.24 FEET TO THE NORTHERLY MOST CORNER OF THOSE LANDS DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 4352, PAGE 1043, OF SAID PUBLIC RECORDS; THENCE SOUTHERLY ALONG THE WESTERLY LINE OF LAST SAID LANDS THE FOLLOWING 3 COURSES: COURSE 1, THENCE SOUTH 04°05'13” WEST, DEPARTING SAID WESTERLY RIGHT OF WAY LINE, 300.17 FEET; COURSE 2, THENCE SOUTH 01°46'47” WEST, 440.22 FEET; COURSE 3, THENCE SOUTH 00°29'48” EAST, 302.09 FEET TO THE SOUTHERLY MOST CORNER THEREOF, SAID CORNER LYING ON SAID WESTERLY RIGHT OF WAY LINE; THENCE SOUTH 01°47'04” WEST, ALONG SAID WESTERLY RIGHT OF WAY LINE, 108.24 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE EASTERLY HAVING A RADIUS OF 11499.16 FEET; THENCE SOUTHERLY, CONTINUING ALONG SAID WESTERLY RIGHT OF WAY LINE AND ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 00°17'06”, AN ARC LENGTH OF 57.22 FEET TO THE NORTHERLY MOST CORNER OF EXHIBIT “A”, DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 4717, PAGE 1930, OF SAID PUBLIC RECORDS, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 01°41'50” WEST, 57.22 FEET; THENCE SOUTH 19°41'34” WEST, ALONG THE WESTERLY LINE OF SAID EXHIBIT “A” AND ALONG A NON-TANGENT LINE, 47.89 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE EASTERLY HAVING A RADIUS OF 11514.16 FEET; THENCE SOUTHERLY, CONTINUING ALONG SAID WESTERLY LINE AND ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 00°29'51”, AN ARC LENGTH OF 100.00 FEET TO A POINT LYING ON THE EASTERLY PROLONGATION OF THE NORTHERLY LINE OF THOSE LANDS DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 3729, PAGE 53, OF SAID PUBLIC RECORDS, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 01°04'46” WEST, 100.00 FEET; THENCE SOUTH 89°35'27” WEST, ALONG SAID EASTERLY PROLONGATION AND SAID NORTHERLY LINE, 1093.78 FEET TO THE NORTHWESTERLY CORNER THEREOF; THENCE SOUTH 01°01'02” EAST, ALONG THE WESTERLY LINE THEREOF, 853.28 FEET TO THE SOUTHWESTERLY CORNER THEREOF; THENCE NORTH 89°35'27” EAST, ALONG THE SOUTHERLY LINE THEREOF AND ITS EASTERLY PROLONGATION, 1097.04 FEET TO A POINT LYING ON SAID WESTERLY RIGHT OF WAY LINE OF COUNTY ROAD NO.
315; THENCE SOUTH 00°24'33” EAST, ALONG SAID WESTERLY RIGHT OF WAY LINE, 4497.42 FEET TO A POINT LYING ON THE SOUTHERLY LINE OF SAID SECTION 6; THENCE SOUTH 89°29'42” WEST, ALONG SAID SOUTHERLY LINE, 1286.31 FEET TO THE SOUTHEASTERLY CORNER OF THOSE LANDS DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 659, PAGE 66, OF SAID PUBLIC RECORDS; THENCE NORTH 00°24'23” WEST, ALONG THE EASTERLY LINE THEREOF, 2227.59 FEET TO THE NORTHEASTERLY CORNER THEREOF; THENCE ALONG THE NORTHEASTERLY LINE THEREOF THE FOLLOWING 3 COURSES: COURSE 1, THENCE NORTH 75°24'05” WEST, 700.00 FEET; COURSE 2, THENCE NORTH 58°32'13” WEST, 1724.82 FEET; COURSE 3, THENCE NORTH 74°09'16” WEST, 1890.83 FEET TO THE NORTHWESTERLY CORNER THEREOF, SAID CORNER LYING ON THE EAST LINE OF SAID SECTION 1; THENCE NORTH 01°05'43” WEST, ALONG SAID EAST LINE, 1431.42 FEET TO THE POINT OF BEGINNING.

LESS AND EXCEPT THE FOLLOWING DESCRIBED LANDS:

COMMERCIAL PARCEL 2

A PORTION OF SECTION 31 AND SECTION 32, TOWNSHIP 5 SOUTH, RANGE 26 EAST, CLAY COUNTY, FLORIDA, BEING A PORTION OF THOSE LANDS DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 1863, PAGE 1745, OF THE PUBLIC RECORDS OF SAID COUNTY, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

FOR A POINT OF BEGINNING, COMMENCE AT THE INTERSECTION OF THE WESTERLY RIGHT OF WAY LINE OF COUNTY ROAD NO. 315, AN 80 FOOT RIGHT OF WAY AS PRESENTLY ESTABLISHED, WITH THE SOUTHERLY RIGHT OF WAY LINE OF CATHEDRAL OAK PARKWAY, A VARIABLE WIDTH RIGHT OF WAY AS DEPICTED ON CATHEDRAL OAK PARKWAY PHASE 1 SECOND REPLAT, RECORDED IN PLAT BOOK 73, PAGES 6 THROUGH 14, OF SAID PUBLIC RECORDS; THENCE SOUTH 01°47'04” WEST, ALONG SAID WESTERLY RIGHT OF WAY LINE, 609.24 FEET TO THE NORTHERLY MOST CORNER OF THOSE LANDS DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 4352, PAGE 1043, OF SAID PUBLIC RECORDS; THENCE SOUTH 04°05'13” WEST, ALONG THE WESTERLY LINE OF LAST SAID LANDS, 300.17 FEET; THENCE SOUTH 01°46'47” WEST, CONTINUING ALONG SAID WESTERLY LINE, 350.10 FEET TO A POINT LYING ON THE SOUTHERLY LINE OF EXHIBIT “A”, AS DESCRIBED AND RECORDED IN ORDINANCE 2022-24, OF SAID PUBLIC RECORDS; THENCE NORTH 87°52'18” WEST, DEPARTING SAID WESTERLY LINE AND ALONG SAID SOUTHERLY LINE,
942.57 FEET TO THE SOUTHWESTERLY CORNER THEREOF; THENCE NORTH 01°47'04” EAST, ALONG THE WESTERLY LINE THEREOF, 1274.57 FEET TO A POINT LYING ON SAID SOUTHERLY RIGHT OF WAY LINE OF CATHEDRAL OAK PARKWAY; THENCE EASTERLY, ALONG SAID SOUTHERLY RIGHT OF WAY LINE AND ALONG THE ARC OF A NON-TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 2148.00 FEET, THROUGH A CENTRAL ANGLE OF 14°58'38”, AN ARC LENGTH OF 561.49 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 83°51'07” EAST, 559.89 FEET; THENCE NORTH 88°39'34” EAST, CONTINUING ALONG SAID SOUTHERLY RIGHT OF WAY LINE, 396.90 FEET TO THE POINT OF BEGINNING.

BYPASS R/W PARCEL

A PORTION OF SECTION 6, TOWNSHIP 6 SOUTH, RANGE 26 EAST, CLAY COUNTY, FLORIDA, BEING A PORTION OF THOSE LANDS DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 1863, PAGE 1745, OF THE PUBLIC RECORDS OF SAID COUNTY, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

FOR A POINT OF BEGINNING, COMMENCE AT THE INTERSECTION OF THE WESTERLY RIGHT OF WAY LINE OF COUNTY ROAD NO. 315, AN 80 FOOT RIGHT OF WAY AS PRESENTLY ESTABLISHED, WITH THE SOUTHERLY LINE OF SAID SECTION 6; THENCE SOUTH 89°29'42” WEST, ALONG THE SOUTHERLY LINE OF SAID SECTION 6, A DISTANCE OF 1142.79 FEET; THENCE NORTH 40°12'48” EAST, DEPARTING SAID SOUTHERLY LINE, 1113.51 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE WESTERLY HAVING A RADIUS OF 1422.50 FEET; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 40°37'22”, AN ARC LENGTH OF 1008.55 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 19°54'08” EAST, 987.56 FEET; THENCE NORTH 89°35'27” EAST, ALONG A NON-TANGENT LINE, 75.00 FEET TO A POINT LYING ON SAID WESTERLY RIGHT OF WAY LINE; THENCE SOUTH 00°24'33” EAST, ALONG SAID WESTERLY RIGHT OF WAY LINE, 1769.41 FEET TO THE POINT OF BEGINNING.

LESS ALL EXCEPTIONS, CONTAINING 1035.55 ACRES, MORE OR LESS.	

VISION - EXPERIENCE - RESULTS ENGLAND - THIMS & MILLER, INC.	

	

  	

	

  	

INSERT HERE	
	
w-TI 11
VISION - EXPERIENCE - RESULTS ENGLAND - THIMS & MILLER, INC.
14775 Old St. Augustine Road, Jacksonville, FL 32258
TEL  (904) 642-8990, FAX (904) 646-9485
REG - 2584  LC - 0000316	EXHIBIT 3B - PARCEL 1 - ASSESSMENT AREA ONE DESCRIPTION	ETM NO. 14-011-29005	
		DRAWN BY	JES	
	FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CLAY COUNTY, FLORIDA	DATE	4/15/25	
		DRAWING NO. 3B	

Feed Mill Community

Development District

Future Land Use

LA MPC

Source: ETM, Clay County

Maryland Av

Manhattan Av

LA AC

LA VC

MIX

CO

RF

COM

Ogl

Pebble Point Dr Medinah Ln

MUNI

Feed Mill CDD
Lake Asbury Future Land Use
RR: RURAL RESIDENTIAL
LA RC: LAKE ASBURY RURAL COMMUNITY RRSV: RURAL RESERVE
RF: RURAL FRINGE
LA MPC: LAKE ASBURY MASTER PLANNED COMMUNITY COM: COMMERCIAL
BP: BUSINESS PARK MIX: MIXED USE
LA VC: LAKE ASBURY VILLAGE CENTER LA AC: LAKE ASBURY ACTIVITY CENTER LA IVC: LAKE ASBURY IVC
CO: CONSERVATION
LA GW: LAKE ASBURY GREENWAY MUNI: MUNICIPAL
AG: AGRICULTURE
Clay County Conservation Overlay

0	2,200	4,400

Feet

105

Jacksonville

10

295

295

16

County Road 315

Perry Rd

LA RC

BP	RR

Ron Rd

Floyd Rd

AG	RRSV

LA GW

Knowles Rd

LA IVC

G:\14-011\14-011-29 - Saratoga Springs\14-011-29005 - CDD\GIS\Maps\PRO\Saratoga Springs.aprx

Date: 4/16/2024

VISION - EXPERIENCE - RESULTS ENGLAND - THIMS & MILLER, INC.

VISION - EXPERIENCE - RESULTS ENGLAND - THIMS & MILLER, INC.

VISION - EXPERIENCE - RESULTS ENGLAND - THIMS & MILLER, INC.

WETLANDS

WETLANDS

WETLANDS

CDD BOUNDARY

WETLANDS

PARCEL 1

COUNTY ROAD 315 IMPROVEMENTS

PARCEL 4	CDD BOUNDARY

NOTE: NEIGHBORHOOD MASTER PLAN SUBJECT TO MODIFICATION DURING THE FINAL ENGINEERING AND PERMITTING PROCESSES.

14775 Old St. Augustine Rd., Jacksonville, FL 32258 TEL: (904) 642-8990	www.etminc.com
REG - 00002584 LC - 0000316

ETM NO.	14-011-29005 DRAWN BY:	DDM DATE: 8/1/25 DRAWING NO. 6

	60' RESIDENTIAL ROW TYPICAL SECTION (24' PAVEMENT)	

14775 Old St. Augustine Rd., Jacksonville, FL 32258 TEL: (904) 642-8990	www.etminc.com
REG - 00002584 LC - 0000316

ETM NO.	14-011-29005 DRAWN BY:	DDM DATE: 8/1/25 DRAWING NO. 7

WETLANDS

WETLANDS

WETLANDS

CDD BOUNDARY

WETLANDS

PARCEL 1

PARCEL 4	CDD BOUNDARY

LIMITS OF PROPOSED REUSE MAIN (TYP)

NOTE: NEIGHBORHOOD MASTER PLAN SUBJECT TO MODIFICATION DURING THE FINAL ENGINEERING AND PERMITTING PROCESSES.

14775 Old St. Augustine Rd., Jacksonville, FL 32258 TEL: (904) 642-8990	www.etminc.com
REG - 00002584 LC - 0000316

ETM NO.	14-011-29005 DRAWN BY:	DDM DATE: 8/1/25 DRAWING NO. 8

a.
a.
::,

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EXHIBIT 9 - WATER DISTRIBUTION SYSTEM

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ENGLAND-THIMS & MILLER	DATE:  8/1/25	5

--DR-AW-N-BY-: -D-O-M	--5.,l.

14775 Old St. Augustine Rd., Jacksonville, FL32258	-- .,l.

	TEL,R(_9E0_4G)-6-□420-□8909-20584-LCw--w0w00.0e-t3m1;_,6.,_oom

CLAY COUNTY, FLORIDA

...DRAWING NO.	9	 /(!)

WETLANDS

WETLANDS

WETLANDS

CDD BOUNDARY

WETLANDS

PARCEL 4	CDD BOUNDARY	PARCEL 1

LIMITS OF GRAVITY SEWER MAIN (TYP)

LIMITS OF PROPOSED FORCE MAIN (TYP)

NOTE: NEIGHBORHOOD MASTER PLAN SUBJECT TO MODIFICATION DURING THE FINAL ENGINEERING AND PERMITTING PROCESSES.

14775 Old St. Augustine Rd., Jacksonville, FL 32258 TEL: (904) 642-8990	www.etminc.com
REG - 00002584 LC - 0000316

ETM NO.	14-011-29005 DRAWN BY:	DDM DATE: 8/1/25 DRAWING NO. 10

WETLANDS

WETLANDS

WETLANDS

CDD BOUNDARY

WETLANDS

PARCEL 1

PARCEL 4	CDD BOUNDARY

LIMITS OF PROPOSED SMF'S (TYP)

NOTE: NEIGHBORHOOD MASTER PLAN SUBJECT TO MODIFICATION DURING THE FINAL ENGINEERING AND PERMITTING PROCESSES.

14775 Old St. Augustine Rd., Jacksonville, FL 32258 TEL: (904) 642-8990	www.etminc.com
REG - 00002584 LC - 0000316

ETM NO.	14-011-29005 DRAWN BY:	DDM DATE: 8/1/25 DRAWING NO. 11

WETLANDS

WETLANDS

WETLANDS

CDD BOUNDARY

WETLANDS

PARCEL 1

PARCEL 4	CDD BOUNDARY

LIMITS OF PROPOSED NEIGHBORHOOD ROADS (TYP)

NOTE: NEIGHBORHOOD MASTER PLAN SUBJECT TO MODIFICATION DURING THE FINAL ENGINEERING AND PERMITTING PROCESSES.

14775 Old St. Augustine Rd., Jacksonville, FL 32258 TEL: (904) 642-8990	www.etminc.com
REG - 00002584 LC - 0000316

ETM NO.	14-011-29005 DRAWN BY:	DDM DATE: 8/1/25 DRAWING NO. 12

WETLANDS

WETLANDS

WETLANDS

CDD BOUNDARY

WETLANDS

PARCEL 4

25' LOT

40' LOT

50' LOT

60' LOT

CDD BOUNDARY

PARCEL 1

NOTE: NEIGHBORHOOD MASTER PLAN SUBJECT TO MODIFICATION DURING THE FINAL ENGINEERING AND PERMITTING PROCESSES.

14775 Old St. Augustine Rd., Jacksonville, FL 32258 TEL: (904) 642-8990	www.etminc.com
REG - 00002584 LC - 0000316

ETM NO.	14-011-29005 DRAWN BY:	DDM DATE: 8/1/25 DRAWING NO. 14

WETLANDS

WETLANDS

WETLANDS

CDD BOUNDARY

WETLANDS

PARCEL 4	CDD BOUNDARY	PARCEL 1

AMENITY AREA

LIMITS OF PROPOSED RECREATION (TYP)

NOTE: NEIGHBORHOOD MASTER PLAN SUBJECT TO MODIFICATION DURING THE FINAL ENGINEERING AND PERMITTING PROCESSES.

14775 Old St. Augustine Rd., Jacksonville, FL 32258 TEL: (904) 642-8990	www.etminc.com
REG - 00002584 LC - 0000316

ETM NO.	14-011-29005 DRAWN BY:	DDM DATE: 8/1/25 DRAWING NO. 13

Tab 5

Feed Mill Community Development District
Preliminary Supplemental Special Assessment Allocation Report
Capital Improvement Revenue Bonds, Series 2025 (Parcel 1 – Assessment Area One)

3434 Colwell Ave
Suite 200
Tampa, FL 33614 rizzetta.com August 27, 2025

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PARCEL 1 – ASSESSMENT AREA ONE)

Table Of Contents

Page
INTRODUCTION ……………………………………….......………..……................…	1
DEFINED TERMS……..………………….................................................................	1
DISTRICT INFORMATION……………….……………….............................................	2
SERIES 2025 PARCEL 1 PROJECT............………………...…………………..……...	2
PRELIMINARY SERIES 2025 BONDS AND ASSESSMENTS………………………..……	3
PRELIMINARY SERIES 2025 ASSESSMENT ALLOCATION……..……………………....	3
PREPAYMENT OF SERIES 2025 ASSESSMENTS..….…………………………….……	5
ADDITIONAL STIPULATIONS..……………………………………………………………...…	6
EXB “A”	PRELIMINARY ALLOCATION METHODOLOGY……………………….…………,,,,,,,,,,,,,….	7

	Index Of Tables		
Table	Description	Page	
1	PRELIMINARY DEVELOPMENT PLAN..................................................................................	A-1	
2	CIP COST DETAIL…………………………………..……...………..……..……...…….…..…	A-2	
3	Prelim. Financing Information – Series 2025 Bonds….....………………….…..….…	A-3	
4	Prelim. Financing Information – Series 2025 Assessments………….…….…………	A-3	
5	Prelim. Assessment Allocation – Series 2025 Assessments……………………….	A-4	
6	Contribution Calculation – Series 2025 Parcel 1 Project……….………………	A-5	
	PRELIM. SERIES 2025 ASSESSMENT ROLL…....................................................................	A-6	
	*Legal Descriptions Attached		

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PARCEL 1 – ASSESSMENT AREA ONE)

Introduction

This Preliminary Supplemental Special Assessment Allocation Report (herein the “Report”) is being presented in anticipation of financing a capital infrastructure project by the Feed Mill Community Development District (“District”), a local unit of special purpose government established pursuant to Chapter 190, Florida Statutes. The District plans to issue Capital Improvement Revenue Bonds, Series 2025 (Parcel 1 – Assessment Area One) and has retained Rizzetta & Company, Inc. to prepare a methodology for allocating the special assessments to be levied by the District in connection with the transaction.
Defined Terms

“Capital Improvement Program” or “CIP” – Construction and/or acquisition of public infrastructure planned for the District. The total cost for the Capital Improvement Plan is estimated to be $187,810,032 as specified in the Engineer’s Report.
“District Engineer” – England-Thims & Miller, Inc.

“End User” – The ultimate purchaser of a fully developed residential unit; typically, a resident homeowner.
“Engineer’s Report” - That certain Feed Mill Community Development District Capital Improvement Plan dated February 12, 2025, as supplemented by that certain Feed Mill Community Development District First Supplemental Engineer’s Report to the Capital Improvement Plan dated August 1, 2025.

“Equivalent Assessment Unit” or “EAU” – Allocation factor which reflects a quantitative measure of the amount of special benefit conferred by the District’s CIP on a particular land use, relative to other land uses.

“Indentures” – The Master Trust Indenture and First Supplemental Trust Indenture, each dated August 1, 2025.

“Landowner” – SRTG DEV Owner, LLC.

“Master Report” – The Master Special Assessment Allocation Report dated February 26, 2025.

“Parcel 1 – Assessment Area One” – An assessment area within the District, consisting of approximately 208.94 acres or 611 planned residential units within Pods 1A through 1J of Parcel 1.

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FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PARCEL 1 – ASSESSMENT AREA ONE)

“Platted Units” – Lands configured into their intended end-use and subject to a recorded plat.

“Series 2025 Assessments” – The Series 2025 Assessments, as contemplated by Chapters 190, 170, and 197, Florida Statutes, levied to secure repayment of the District’s Series 2025 Bonds.

“Series 2025 Bonds” – $15,250,000 (estimated) Feed Mill Community Development District Capital Improvement Revenue Bonds, Series 2025 (Parcel 1 – Assessment Area One).

“Series 2025 Parcel 1 Project” – A portion of the District’s CIP in the estimated amount of $59,611,472, expected to be partially funded by the Series 2025 Bonds, benefitting Parcel 1 – Assessment Area One.
“True-Up Agreement” – The Agreement(s) to be executed between the District and each Landowner, regarding the True-Up and Payment of Series 2025 Assessments.
“Unplatted Parcels” – Undeveloped lands or parcels not yet subject to a recorded plat in their final end-use configuration.

All capitalized terms not defined herein shall retain the meaning ascribed in the Master Report.

DISTRICT INFORMATION

The District was established by the Board of County Commissioners of Clay County pursuant to Clay County Ordinance No. 2024-20, which became effective June 12, 2024. The District encompasses approximately 1,035.55 acres and is generally located south and adjacent to Cathedral Oak Parkway and bifurcated by Peters Creek, entirely within Clay County.

The District is currently planned for a total of approximately 2,132 residential units. This Report will address Parcel 1- Assessment Area One of the District which is the first area of development planned for 611 residential units.

Table 1 illustrates the District’s preliminary development plan for Parcel 1 – Assessment Area One.

SERIES 2025 PARCEL 1 PROJECT

The Series 2025 Parcel 1 Project is the portion of the District’s total CIP necessary for the development of Parcel 1 – Assessment Area One. The cost of the Series 2025 Parcel 1 Project is

2

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PARCEL 1 – ASSESSMENT AREA ONE)

estimated to be $59,611,472, and the District plans to issue Series 2025 Bonds to partially fund the Series 2025 Parcel 1 Project in the estimated amount of $12,363,324. The balance of the Series 2025 Parcel 1 Project will be funded by the Landowner, future bonds or other funding sources. For more detailed information regarding the Series 2025 Parcel 1 Project, see Table 2 and the Engineer’s Report.

Preliminary Series 2025 Bonds And Assessments

In order to provide for the financing of a portion of the Series 2025 Parcel 1 Project described in Section IV above, the District plans to issue the Series 2025 Bonds in the estimated principal amount of $15,250,000, which will be secured by the pledged revenues from the Series 2025 Assessments. The Series 2025 Assessments are expected to initially be levied in the estimated annual amount of $1,107,884, excluding early payment discounts and collection costs, and shall be structured in the same manner as the Series 2025 Bonds, so that revenues from the Series 2025 Assessments are sufficient to fulfill the debt service requirements for the Series 2025 Bonds.
The Series 2025 Bonds will be structured as amortizing current-interest bonds, with repayment occurring in annual installments of principal and interest. Interest payment dates shall occur every May 1 and November 1 from the date of issuance until final maturity anticipated on May 1, 2056. The first scheduled payment of coupon interest is anticipated to be due on November 1, 2025, although interest will be capitalized through November 1, 2026, and the first installment of principal due on May 1, 2027. The annual principal payment will be due each May 1 thereafter until final maturity. The Series 2025 Assessments are expected to initially be levied on the 208.94 acres within Parcel 1 – Assessment Area One.

It is expected that the Series 2025 Assessment installments assigned to Platted Units will be collected via the Clay County property tax bill process (Uniform Method) 1. Accordingly, the Series 2025 Assessments have been adjusted to allow for current County collection costs and the possibility that landowners will avail themselves of early payment discounts. Currently, the aggregate rate for costs and discounts is 6.0%, but this may fluctuate as provided by law. The Series 2025 Assessments levied on Unplatted Parcels are expected to be collected directly by the District and will not include any county collection costs or early payment discounts. However, for purposes of this Report, all units are inclusive of the associated costs and discounts for presentation purposes only.
Preliminary Series 2025 Assessment Allocation

The District’s Master Report contains specific special benefit findings relative to the Maximum Assessments and the District’s Capital Improvement Program. As stated therein, the CIP costs per unit and Maximum Assessments were allocated pursuant to an EAU-based methodology.

1 The ultimate collection procedure is subject to District approval. Nothing herein should be construed as mandating collections that conflict with the terms, privileges, and remedies provided in the Indentures, Florida law, assessment resolutions, and/or other applicable agreements.

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FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PARCEL 1 – ASSESSMENT AREA ONE)

Per Section IV above, the Series 2025 Bonds will fund a portion of the District’s Series 2025 Parcel 1 Project, which is expected to be constructed in a manner generally proportionate to the construction of improvements for the CIP. Accordingly, it is expected that the improvements funded by the Series 2025 Bonds will confer benefit on the District’s developable parcels in a manner generally proportionate to and consistent with the allocation of benefit found in the Master Report. Therefore, it is proper to impose Series 2025 Assessments on the units specified in Table 5, as well as the District’s Preliminary Series 2025 Assessment Roll on page A-6.
Assessment Allocation
The Series 2025 Assessments are expected to ultimately be allocated to the 611 Platted Units planned for development within Parcel 1 – Assessment Area One, and have been sized based on target annual assessments provided by the applicable Landowner. As allocated, the Series 2025 Assessments fall within the cost/benefit thresholds, as well as the Maximum Assessment levels, established by the Master Report. However, because the allocation of assessments differs from the assessments specified in the Master Report, the District will recognize an in-kind contribution of infrastructure from the applicable Landowner in the form of an assessment credit representing the difference between the target Series 2025 Assessments and a baseline allocation of assessments. The total amount of this minimum contribution to ensure that all debt assessments are fairly and reasonably allocated has been calculated to be approximately $143,551, as shown in Table 7.

The Preliminary Series 2025 Assessment Roll is located at page A-6.
Assignment of Assessments

The Series 2025 Bonds have been sized based on the expectation that the Series 2025 Assessments will be fully absorbed by the 611 Platted Units planned for development in Parcel 1 – Assessment Area One.
All of the lands subject to the Series 2025 Assessments currently consist of Unplatted Parcels. Series 2025 Assessments will be initially levied on these Unplatted Parcels within Parcel 1 – Assessment Area One on an equal assessment per acre basis. At the time parcels are platted or otherwise subdivided into Platted Units, individual Series 2025 Assessments will be assigned to those Platted Units at the per-unit amounts described in Table 5, thereby reducing the Series 2025 Assessments encumbering the Unplatted Parcels by a corresponding amount. Any unassigned amount of Series 2025 Assessments encumbering the remaining Unplatted Parcels within Parcel 1 – Assessment Area One will continue to be calculated and levied on an equal assessment per acre basis.
In the event an Unplatted Parcel is sold to a third party not affiliated with the Landowner, Series 2025 Assessments will be assigned to that Unplatted Parcel based on

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FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PARCEL 1 – ASSESSMENT AREA ONE)

the maximum total number of Platted Units assigned by such Landowner to that Unplatted Parcel. The owner of that Unplatted Parcel will be responsible for the total assessments applicable to the Unplatted Parcel, regardless of the total number of Platted Units ultimately platted. These total assessments are fixed to the Unplatted Parcel at the time of the sale. If the Unplatted Parcel is subsequently sub-divided into smaller parcels, the total assessments initially allocated to the Unplatted Parcel will be re-allocated to the smaller parcels pursuant to the methodology as described herein (i.e. equal assessment per acre until platting).
In the event that developable lands that derive benefit from the Series 2025 Parcel 1 Project are added to the District boundaries, whether by boundary amendment or increase in density, Series 2025 Assessments will be allocated to such lands, pursuant to the methodology described herein.

PREPAYMENT AND TRUE-UP OF SERIES 2025 ASSESSMENTS
The Series 2025 Assessments encumbering a parcel may be prepaid in full at any time, without penalty, together with interest at the rate on the corresponding Series 2025 Bonds to the bond interest payment date that is more than forty-five (45) days next succeeding the date of prepayment. Notwithstanding the preceding provisions, the District does not waive the right to assess penalties which would otherwise be permissible if the parcel being prepaid is subject to an assessment delinquency.
Because this methodology assigns defined, fixed assessments to Platted Units, the District’s Series 2025 Assessment program is predicated on the development of lots in the manner described in Table 1. However, if a change in development results in net decrease in the overall principal amount of assessments able to be assigned to the units described in Table 1, then a true-up, or principal reduction payment, will be required to cure the deficiency. As the acreage within the assessment areas is developed, it will be platted. At such time as a plat is presented to the District that involves the earliest of at least 25% of residential units or developable acres within any assessment area and continuing at each time when a subsequent plat is presented to the District (each such date being a “True-Up Date”), the District shall determine if the debt per acre remaining on the unplatted developable land is greater than the debt per developable acre of such land at the time of imposition of the initial assessment and, if it is, a True-Up Payment in the amount of such excess shall become due and payable by the Landowner in that tax year in accordance with this Report in addition to the regular assessment installment payable for lands owned by such Landowner. The District will ensure collection of such amounts in a timely manner in order to meet its debt service obligations and, in all cases, each Landowner agrees that such payments shall be made in order to ensure the District’s timely payments of the debt services obligations on the Series 2025 Bonds. The District shall record all True-Up Payments in its Improvement Lien book. For further detail and definitions related to the true-up process, please refer to the True-Up Agreement.

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FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PARCEL 1 – ASSESSMENT AREA ONE)

Similarly, if a reconfiguration of lands would result in the collection of substantial excess assessment revenue in the aggregate, then the District shall undertake a pro rata reduction of assessments for all assessed properties.

Additional Stipulations
Certain financing, development, and engineering data was provided by members of District staff, District underwriter, and/or the Landowner. The allocation methodology described herein was based on information provided by those professionals. Rizzetta & Company, Inc. makes no representations regarding said information transactions beyond restatement of the factual information necessary for compilation of this Report.

Rizzetta & Company, Inc., does not represent the District as a Municipal Advisor or Securities Broker nor is Rizzetta & Company, Inc., registered to provide such services as described in Section 15B of the Securities and Exchange Act of 1934, as amended. Similarly, Rizzetta & Company, Inc., does not provide the District with financial advisory services or offer investment advice in any form.

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FEED MILL COMMUNITY DEVELOPMENT DISTRICT
	CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PARCEL 1 – ASSESSMENT AREA ONE)

EXHIBIT A:

PRELIMINARY ALLOCATION METHODOLOGY

�	Rizzetta & Company
�	

Professionals in Community Management

TABLE 1: PRELIMINARY DEVELOPMENT PLAN

Preliminary Development Plan provided by the Developer and is subject to change.

FEED MILL COMMUNITY DEVELOPMENT DISTRICT PRELIMINARY SUPPLEMENTAL SPECIAL ASSESSMENT ALLOCATION REPORT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PARCEL 1 - ASSESSMENT AREA ONE)

          PRODUCT		PARCEL 1
(ASSESSMENT AREA ONE)
POD 1A - 1J	
Single Family 40'
Single Family 50'
Single Family 60'	134
284
193	
TOTAL:		611		

A-1

FEED MILL COMMUNITY DEVELOPMENT DISTRICT PRELIMINARY SUPPLEMENTAL SPECIAL ASSESSMENT ALLOCATION REPORT

TABLE 2: CIP COST DETAIL

CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PARCEL 1 - ASSESSMENT AREA ONE)

		SERIES 2025	
		PARCEL 1	
DESCRIPTION		PROJECT	
CR315 Improvements		$254,440	
Subdivision Roadway Construction		$6,581,995	
Lift Stations, Potable Water, Reclaimed Water, and Sewer		$11,311,003	
Hardscape, Landscape, Irrigation, Fencing, and Signage		$2,748,250	
Amenity Center and Community Parks		$6,870,000	
Stormwater Management Facilities, Flood Control and Drainage Collection System		$15,058,646	
Planning, Engineering, Survey, and Regulatory		$6,851,893	
Contingency (20%)		$9,935,245	
INFRASTRUCTURE COST TOTAL		$59,611,472	

SERIES 2025 PARCEL 1 PROJECT			
Estimated project costs to be funded by Series 2025 Bonds		$12,363,324	
Estimated recognized contribution of infrastruture to reach target assessment levels		$143,551	
Estimated remaining project costs to be funded by the Developer or future bonds		$47,104,597	
TOTAL SERIES 2025 PARCEL 1 PROJECT		$59,611,472	

Note: Infrastructure cost estimates provided by the District Engineer.			

A-2

FEED MILL COMMUNITY DEVELOPMENT DISTRICT PRELIMINARY SUPPLEMENTAL SPECIAL ASSESSMENT ALLOCATION REPORT

TABLE 3: PRELIMINARY FINANCING INFORMATION - SERIES 2025 BONDS

Source: District Underwriter. Numbers are preliminary and subject to change.

CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PARCEL 1 - ASSESSMENT AREA ONE)

Estimated Issue Date	August 29, 2025	
Final Maturity	May 1, 2056	
Estimated Average Coupon Rate	6.00%	
Estimated Maximum Annual Debt Service ("MADS")	$1,107,884	
SOURCES:		
Bond Proceeds:		
Estimated Par Amount		$15,250,000	
TOTAL SOURCES	$15,250,000	
USES:		
Construction Account	($12,363,324)	
Debt Service Reserve Fund (100% of MADS)	($1,107,884)	
Capitalized Interest (thru 14 months)	($1,298,792)	
Cost of Issuance	($175,000)	
Underwriter's Discount		($305,000)	
TOTAL USES	($15,250,000)	

TABLE 4: PRELIMINARY FINANCING INFORMATION -	SERIES 2025 ASSESSMENTS		
Estimated Interest Rate			6.00%		
Estimated Aggregate Initial Principal Amount			$15,250,000		
Estimated Aggregate Annual Installment		$1,107,884	(1)	
Estimated County Collection Costs	2%	$23,572	(2)	
Estimated Maximum Early Payment Discount	4%	$47,144	(2)	
Estimated Total Annual Installment		$1,178,600		

Based on estimated MADS for the Series 2025 Bonds.
May vary as provided by law.				

A-3

Single Family 40'	134	0.84	112.84		18.19%		$2,774,139	$20,703	$214,400		$1,600	
Single Family 50'	284	1.00	284.00		45.78%		$6,981,928	$24,584	$539,600		$1,900	
Single Family 60'	193	1.16	223		36%		$5,493,933	$28,466	$424,600		$2,200	
TOTAL		611			 620.32 		 100.00%			$15,250,000				$1,178,600				

FEED MILL COMMUNITY DEVELOPMENT DISTRICT PRELIMINARY SUPPLEMENTAL SPECIAL ASSESSMENT ALLOCATION REPORT

Allocation of preliminary Series 2025 Assessments to be levied based on target assessment levels. There will be a recognized in-kind contribution of infrastructure by the Developer as an assessment credit to certain unit types in order to reach target assessment levels. See Table 6 for the contribution calculation.
Product total shown for illustrative purposes only and are not fixed per product type.
Includes estimated Clay County collection costs/payment discounts, which may fluctuate.

CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PARCEL 1 - ASSESSMENT AREA ONE)

TABLE 5: PRELIMINARY ASSESSMENT ALLOCATION -	SERIES 2025 ASSESSMENTS (1)	

   PRODUCT		

	UNITS		

TARGET
	EAU		

TOTAL
 EAU'S 	

% OF
 EAU'S 	

PRODUCT TOTAL PRINCIPAL (2)			

PER UNIT PRINCIPAL		
PRODUCT ANNUAL
INSTLMT. (2)(3)	

PER UNIT INSTLMT. (3)	

A-4

FEED MILL COMMUNITY DEVELOPMENT DISTRICT PRELIMINARY SUPPLEMENTAL SPECIAL ASSESSMENT ALLOCATION REPORT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PARCEL 1 - ASSESSMENT AREA ONE)

PRODUCT	TABLE 6: P	RELIMINARY	CONTRIBUTION CA

TOTAL COSTS	LCULATION - SE	RIES 2025 PARCEL 1	PROJECT (1)		
			FUNDED	COST PER UNIT	COST PER UNIT	CONTRIBUTION	TOTAL	
		UNITS		 EAU 		(TARGET)		(TARGET) (3)		(EAU)			PER UNIT		CONTRIBUTION (4)	
Single Family 40'	134	0.80	$2,249,021	$16,784	$15,881		$0		$0 Single Family 50'	284	1.00	$5,660,317	$19,931	$19,851		$0		$0 Single Family 60'	193	1.20	$4,453,986	$23,078	$23,821	$744	$143,551

611	$12,363,324	(2)	$143,551

All numbers are based on construction costs and thus are net of financing costs.
Total estimated Parcel 1 Project costs to be funded with Series 2025 Bonds. See Table 2.
Estimated per unit costs to be funded with Series 2025 Bonds based on target allocation.
Total contribution of infrastructure due to the difference between the target allocation and the EAU allocation. See Table 2 for the application of the contribution.	

A-5

FEED MILL COMMUNITY DEVELOPMENT DISTRICT PRELIMINARY SUPPLEMENTAL SPECIAL ASSESSMENT ALLOCATION REPORT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2025 (PARCEL 1 - ASSESSMENT AREA ONE)

Parcel (2)	SERIES 2025 PRELIMINARY ASSESSMENT ROLL

ACREAGE	ESTIMATED PRINCIPAL/ACRE	

ESTIMATED ASSMT/ACRE (1)	
Pacel 1 - Assessment Area One	208.94	$72,987	$5,641	
	
	TOTAL SERIES 2025	$15,250,000	$1,178,600	

Includes estimated county collection costs/early payment discounts, which may fluctuate.
See Legal Descriptions Attached.

A-6

Tab 6

Feed Mill
Community Development District

Approved Proposed Budget
for
Fiscal Year 2025/2026

Table of Contents

Page

General Fund Budget for Fiscal Year 2025/2026	1	
Debt Service Fund Budget for Fiscal Year 2025/2026	2	
Assessments Charts for Fiscal Year 2025/2026	3	
General Fund Budget Account Category Descriptions	6	
Debt Service Fund Budget Account Category Descriptions	11	

Professionals in Community Management

Proposed Budget
Feed Mill Community Development District
General Fund Fiscal Year 2025/2026	

Chart of Accounts Classification	

Actual YTD through 07/31/25	

Projected Annual Totals 2024/2025	

Annual Budget for 2024/2025	
Projected Budget variance for 2024/2025	

Budget for 2025/2026	
Budget Increase (Decrease) vs 2024/2025		
1									
2	ASSESSMENT REVENUES								
3									
4	Special Assessments								
5	Tax Roll*	$	-	$	-	$	-	$	-	$	-	$	-		
6	Off Roll*	$	-	$	-	$	-	$	-	$	343,831	$	343,831		
7									
8	Assessment Revenue Subtotal	$	-	$	-	$	-	$	-	$	343,831	$	343,831	
9									
10	OTHER REVENUES								
11									
12	Balance Forward from Prior Year	$	-	$	-	$	-	$	-	$	-	$	-		
13	Developer Contributions	$	69,572	$	90,535	$	307,546	$	(217,011)	$	-	$	(307,546)		
14									
15	Other Revenue Subtotal	$	69,572	$	90,535	$	307,546	$	(217,011)	$	-	$	(307,546)	
16								
17	TOTAL REVENUES	$	69,572	$	90,535	$	307,546	$	(217,011)	$	343,831	$	36,285	
18	*Allocation of assessments between the Tax Roll and Off Roll are estimates only and subject to change prior to certification.				
19									
20	EXPENDITURES - ADMINISTRATIVE								
21									
22	Legislative								
23	Supervisor Fees		$	-	$	-	$	-	$	12,000	$	12,000		
24	Financial & Administrative								
25	Accounting Services	$	12,500	$	15,350	$	17,100	$	1,750	$	19,200	$	2,100		
26	Administrative Services	$	3,500	$	4,200	$	4,200	$	-	$	4,200	$	-		
27	Arbitrage Rebate Calculation	$	-	$	-	$	1,000	$	1,000	$	1,000	$	-		
28	Assessment Roll	$	-	$	-	$	-	$	-	$	5,000	$	5,000		
29	Auditing Services	$	-	$	3,000	$	3,000	$	-	$	3,100	$	100		
30	Disclosure Report	$	-	$	-	$	7,500	$	7,500	$	6,000	$	(1,500)		
31	District Engineer	$	7,916	$	9,499	$	12,000	$	2,501	$	12,000	$	-		
32	District Management	$	16,000	$	19,350	$	20,100	$	750	$	21,000	$	900		
33	Dues, Licenses & Fees	$	190	$	190	$	1,000	$	810	$	1,000	$	-		
34	Financial & Revenue Collections	$	-	$	300	$	1,800	$	1,500	$	3,600	$	1,800		
35	Legal Advertising	$	3,229	$	3,875	$	10,000	$	6,125	$	10,000	$	-		
36	Miscellaneous Fees	$	-	$	-	$	500	$	500	$	500	$	-		
37	Public Officials Liability Insurance	$	2,250	$	2,250	$	2,646	$	396	$	2,531	$	(115)		
38	Trustees Fees	$	-	$	-	$	10,000	$	10,000	$	10,000	$	-		
39	W ebsite Hosting, Maintenance, Backup	$	950	$	1,625	$	2,700	$	1,075	$	3,700	$	1,000		
40	Legal Counsel								
41	District Counsel	$	19,288	$	23,146	$	30,000	$	6,854	$	30,000	$	-		
42									
43	Administrative Subtotal	$	65,823	$	82,785	$	123,546	$	40,761	$	144,831	$	21,285	
44									
45	EXPENDITURES - SHARED FIELD OPERATIONS								
46									
47	Electric Utility Services								
48	Utility Services	$	-	$	-	$	20,000	$	20,000	$	10,000	$	(10,000)		
49	Water Sewer Combination Services								
50	Utility Services	$	-	$	-	$	40,000	$	40,000		$	(40,000)		
51	Stormwater Control								
52	Aquatic Maintenance	$	-	$	-	$	3,000	$	3,000	$	10,000	$	7,000		
53	Fountain Service Repairs & Maintenance	$	-	$	-	$	1,000	$	1,000		$	(1,000)		
54	Other Physical Environment								
55	Entry Features - Maintenance	$	-	$	-	$	-	$	-		$	-		
56	General Liability & Property Insurance	$	2,750	$	2,750	$	5,000	$	2,250	$	7,500	$	2,500		
57	Miscellaneous Expense	$	-	$	-	$	-	$	-	$	5,000	$	5,000		
58	Contingency								
59	Miscellaneous Contingency	$	800	$	5,000	$	64,000	$	59,000	$	55,000	$	(9,000)		
60									
61	Shared Field Operations Subtotal	$	3,550	$	7,750	$	133,000	$	125,250	$	87,500	$	(45,500)	
62									
61	EXPENDITURES - PARCEL 1 FIELD OPERATIONS								
62									
63	Electric Utility Services								
62	Utility Services	$	-	$	-	$	5,500	$	5,500	$	5,500	$	-		
63	Water Sewer Combination Services								
64	Utility Services	$	-	$	-	$	-	$	-	$	25,000	$	25,000		
63	Other Physical Environment								
64	Irrigation Repairs	$	-	$	-	$	3,000	$	3,000	$	2,500	$	(500)		
65	Landscape & Irrigation Maintenance	$	-	$	-	$	42,500	$	42,500	$	50,000	$	7,500		
64	Landscape Replacement Plants, Shrubs, Tree	$	-	$	-	$	-	$	-	$	4,000	$	4,000		
65									
66	Parce 1 Field Operations Subtotal	$	-	$	-	$	51,000	$	51,000	$	87,000	$	36,000	
67									
68	EXPENDITURES - PARCEL 4 FIELD OPERATIONS								
69									
70	Electric Utility Services								
71	Utility Services	$	-	$	-	$	-	$	-	$	1,000	$	1,000		
72	Water Sewer Combination Services								
73	Utility Services	$	-	$	-	$	-	$	-	$	10,000	$	10,000		
74	Other Physical Environment								
75	Irrigation Repairs	$	-	$	-	$	-	$	-	$	1,000	$	1,000		
76	Landscape & Irrigation Maintenance	$	-	$	-	$	-	$	-	$	10,000	$	10,000		
77	Landscape Replacement Plants, Shrubs, Trees	$	-	$	-	$	-	$	-	$	2,500	$	2,500		
78									
79	Parce 4 Field Operations Subtotal	$	-	$	-	$	-	$	-	$	24,500	$	24,500	
80								
81	Total Field Operations Subtotal	$	3,550	$	7,750	$	184,000	$	176,250	$	199,000	$	15,000		
82								
83	TOTAL EXPENDITURES	$	69,373	$	90,535	$	307,546	$	217,011	$	343,831	$	36,285	
84								
85	EXCESS OF REVENUES OVER EXPENDITURES	$	199	$	-	$	-	$	-	$	-	$	-	
86								

Comments	

	

	

	

	

	

	

	
	
Based on 12 Meetings	

	

Based on Current Engagement	
After Bond Issuance Series 2024, Includes DTS License	
	
Based on Bonds Being Issued During FY 24/25	
	
Based on Bonds Being Issued During FY 24/25	

Estimated	
Expense After Bond Issuance	
Based on Website May 2025 and Current Agreements	

	

	

	

	

	
	
Estimated and to Include Limited Property	

Supervisor Fees for Remainder of FY 2024/25	

	

	

	

	

	

	

	

	

	

	

	

1

2
Feed Mill Community Development District Debt Service
Fiscal Year 2025/2026	

Chart of Accounts Classification	Series 2025-1	Series 2025-2 (Preliminary)	 (Preliminary)	

Budget for 2025/2026	
				
REVENUES				
Special Assessments				
Net Special Assessments (1)	$1,107,884.00	$357,858.00	$1,465,742.00	
				
TOTAL REVENUES	$1,107,884.00	$357,858.00	$1,465,742.00	

EXPENDITURES				
Administrative				
Debt Service Obligation	$1,107,884.00	$357,858.00	$1,465,742.00	
Administrative Subtotal	$1,107,884.00	$357,858.00	$1,465,742.00	
				
TOTAL EXPENDITURES	$1,107,884.00	$357,858.00	$1,465,742.00	
				
EXCESS OF REVENUES OVER EXPENDITURES	$0.00	$0.00	$0.00	

Clay County Collection Costs (2%) and Early Payment Discounts (4%):	6.0%

$1,559,300.00

GROSS ASSESSMENTS

(1) Based on estimated Maximum Annual Debt Service for the Series 2025 Bonds.

3

FEED MILL COMMUNITY DEVELOPMENT DISTRICT

FISCAL YEAR 2025/2026 O&M & DEBT SERVICE ASSESSMENT SCHEDULE	

2025/2026 O&M Budget:	$343,831.00	2024/2025 O&M Budget:	$307,546.00
Clay County Collection Costs:	2%	$7,315.55	2025/2026 O&M Budget:	$343,831.00
Early Payment Discounts:	4%	$14,631.11

2025/2026 Total:	$365,777.66	Total Difference:	$36,285.00	

Lot Size	Assessment Breakdown

PLATTED - PHASE 1A

Series 2025-1 Debt Service
Single Family 40'
Operations/Maintenance

Total

Series 2025-1 Debt Service
Single Family 50'
Operations/Maintenance

Total

Series 2025-1 Debt Service
Single Family 60'
Operations/Maintenance

Total

PLATTED - PHASE 4A

Series 2025-2 Debt Service
Single Family 40'
Operations/Maintenance

Total

Series 2025-2 Debt Service
Single Family 50'
Operations/Maintenance

Total

Series 2025-2 Debt Service
Single Family 60'
Operations/Maintenance

Total

UNPLATTED - PARCEL 1

Multifamily 25'	Operations/Maintenance

Total

Single Family 40'	Operations/Maintenance

Total

Series 2025-1 Debt Service
Single Family 50'
Operations/Maintenance

Total

Series 2025-1 Debt Service
Single Family 60'
Operations/Maintenance

Total

Single Family 50'	Operations/Maintenance

Total

Single Family 60'	Operations/Maintenance

Total	Per Unit Annual Assessment Comparison
2024/2025	2025/2026		Proposed Increase / Decrease
$	%		

$0.00	$1,600.00
$0.00	$385.11		

$1,600.00	N/A
$385.11	N/A		
	$0.00	$1,985.11		$1,985.11	N/A		
	
$0.00	$1,900.00
$0.00	$463.32		
$1,900.00	N/A
$463.32	N/A		
	$0.00	$2,363.32		$2,363.32	N/A		
	
$0.00	$2,200.00
$0.00	$541.53		
$2,200.00	N/A
$541.53	N/A		
	$0.00	$2,741.53		$2,741.53	N/A		

$0.00	$1,600.00
$0.00	$301.62		

$1,600.00	N/A
$301.62	N/A		
	$0.00	$1,901.62		$1,901.62	N/A		
	
$0.00	$1,900.00
$0.00	$358.96		
$1,900.00	N/A
$358.96	N/A		
	$0.00	$2,258.96		$2,258.96	N/A		
	
$0.00	$2,200.00
$0.00	$416.30		
$2,200.00	N/A
$416.30	N/A		
	$0.00	$2,616.30		$2,616.30	N/A		

$0.00	$72.27		

$72.27	N/A		
	$0.00	$72.27		$72.27	N/A		
	
$0.00	$72.27		
$72.27	N/A		
	$0.00	$72.27		$72.27	N/A		
	
$0.00	$1,900.00
$0.00	$72.27		
$1,900.00	N/A
$72.27	N/A		
	$0.00	$1,972.27		$1,972.27	N/A		
	
$0.00	$2,200.00
$0.00	$72.27		
$2,200.00	N/A
$72.27	N/A		
	$0.00	$2,272.27		$2,272.27	N/A		
	
$0.00	$72.27		
$72.27	N/A		
	$0.00	$72.27		$72.27	N/A		
	
$0.00	$72.27		
$72.27	N/A		
	$0.00	$72.27		$72.27	N/A		

Per Unit Annual Assessment Comparison
2024/2025	2025/2026	

$0.00	

$72.27	
$0.00	$72.27	

$0.00	
$72.27	
$0.00	$72.27	

$0.00	
$72.27	
$0.00	$72.27	

Proposed Increase / Decrease
$	%	

$72.27	

N/A	
$72.27	N/A	

$72.27	
N/A	
$72.27	N/A	

$72.27	
N/A	
$72.27	N/A	

4

FEED MILL COMMUNITY DEVELOPMENT DISTRICT

FISCAL YEAR 2025/2026 O&M & DEBT SERVICE ASSESSMENT SCHEDULE	

2025/2026 O&M Budget:		
$343,831.00	
2024/2025 O&M Budget:	
$307,546.00	
Clay County Collection Costs:	2%	$7,315.55	2025/2026 O&M Budget:	$343,831.00	
Early Payment Discounts:	4%	$14,631.11			
2025/2026 Total:		$365,777.66	Total Difference:	$36,285.00	

Lot Size	Assessment Breakdown

UNPLATTED - PARCEL 4

Single Family 40'	Operations/Maintenance

Total

Single Family 50'	Operations/Maintenance

Total

Single Family 60'	Operations/Maintenance

Total

Note: The District will levy O&M assessments beginning FY 2025-2026. The FY 2024-2025 budget was funded by the Developer in lieu of assessments. The District is also expected to issue the Series 2025 Bonds in June, with the first year of levied Series 2025 Assessments to begin FY 2025-2026.	

5

FEED MILL COMMUNITY DEVELOPMENT DISTRICT

FISCAL YEAR 2025/2026 O&M AND DEBT SERVICE ASSESSMENT SCHEDULE	
.

TOTAL O&M BUDGET		$343,831.00	TOTAL ADMIN BUDGET		$144,831.00	TOTAL SHARED FIELD O&M BUDGET		$87,500.00	TOTAL PARCEL 1 FIELD O&M BUDGET		$87,000.00	TOTAL PARCEL 4 O&M FIELD BUDGET		$24,500.00 COLLECTION COSTS @	 2%		$7,315.55	COLLECTION COSTS @	 2%		$3,081.51	COLLECTION COSTS @	 2%		$1,861.70	COLLECTION COSTS @	2%		$1,851.06	COLLECTION COSTS @	2%		$521.28 EARLY PAYMENT DISCOUNT @	4%	 $14,631.11	EARLY PAYMENT DISCOUNT @	4%		$6,163.02	EARLY PAYMENT DISCOUNT @	4%		$3,723.40	EARLY PAYMENT DISCOUNT @       4%        $3,702.13    EARLY PAYMENT DISCOUNT @       4%        $1,042.55 TOTAL O&M ASSESSMENT                    $365,777.66     TOTAL ADMIN ASSESSMENT                $154,075.53    TOTAL SHARED FIELD ASSESSMENT            $93,085.11    TOTAL PARCEL 1 FIELD O&M ASSESSMENT           $92,553.19    TOTAL PARCEL 4 FIELD O&M ASSESSMENT           $26,063.83	
	UNITS ASSESSED		ALLOCATION OF ADMINISTRATIVE O&M		ALLOCATION OF SHARED FIELD O&M		ALLOCATION OF PARCEL 1 FIELD O&M		ALLOCATION OF PARCEL 4 FIELD O&M		PER LOT ANNUAL ASSESSMENT		
	PRELIM		PRELIM SERIES 2025-1	SERIES 2025-2
L	LOT SIZE	O&M	DEBT SERVICE (1)  DEBT SERVICE (1)		TOTAL	% TOTAL	 TOTAL		ADMIN EAU FACTOR	EAU's		EAU's	BUDGET	PER LOT		TOTAL	% TOTAL	 TOTAL	SHARED FIELD EAU FACTOR	EAU's		EAU's	BUDGET		PER LOT		TOTAL	% TOTAL	 TOTAL	PARCEL 1 FIELD EAU FACTOR	EAU's		EAU's	BUDGET		PER LOT		TOTAL	% TOTAL	 TOTAL	PARCEL 4 FIELD EAU FACTOR	EAU's		EAU's	BUDGET		PER LOT		PRELIM	PRELIM SERIES 2025-1	 SERIES 2025-2
O&M	DEBT SERVICE (2) DEBT SERVICE (2)	TOTAL (3)		
	
PLATTED
Phase 1A

Single Family 40'	134	134	0
Single Family 50'	159	159	0
Single Family 60'	107	107	0

Phase 4A
Single Family 40'	66	0	66
Single Family 50'	73	0	73
Single Family 60'	62	0	62

UNPLATTED
Parcel 1

Multifamily 25'	250	0	0
Single Family 40'	102	0	0
Single Family 50'	125	125	0
Single Family 60'	86	86	0
Single Family 50'	132	0	0
Single Family 60'	60	0	0

Parcel 4

Single Family 40'	149	0	0
Single Family 50'	441	0	0
Single Family 60'	186	0	0
TOTAL COMMUNITY	2132	611	201		

1.00	134.00	6.29%	$9,683.92	$72.27
1.00	159.00	7.46%	$11,490.62	$72.27
1.00	107.00	5.02%	$7,732.68	$72.27

1.00	66.00	3.10%	$4,769.69	$72.27
1.00	73.00	3.42%	$5,275.57	$72.27
1.00	62.00	2.91%	$4,480.62	$72.27

1.00	250.00	11.73%	$18,067.02	$72.27
1.00	102.00	4.78%	$7,371.34	$72.27
1.00	125.00	5.86%	$9,033.51	$72.27
1.00	86.00	4.03%	$6,215.05	$72.27
1.00	132.00	6.19%	$9,539.39	$72.27
1.00	60.00	2.81%	$4,336.08	$72.27

1.00	149.00	6.99%	$10,767.94	$72.27
1.00	441.00	20.68%	$31,870.22	$72.27
1.00	186.00	8.72%	$13,441.86	$72.27

2132.00	100%	$154,075.53		

0.80	107.20	18.02%	$16,776.60	$125.20
1.00	159.00	26.73%	$24,883.21	$156.50
1.20	128.40	21.59%	$20,094.36	$187.80

0.80	52.80	8.88%	$8,263.10	$125.20
1.00	73.00	12.27%	$11,424.37	$156.50
1.20	74.40	12.51%	$11,643.46	$187.80

0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00

0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00

594.80	100%	$93,085.11		

0.80	107.20	27.17%	$25,143.70	$187.64
1.00	159.00	40.29%	$37,293.35	$234.55
1.20	128.40	32.54%	$30,116.14	$281.46

0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00

0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00

0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00

394.60	100%	$92,553.19		

0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00

0.80	52.80	26.37%	$6,873.98	$104.15
1.00	73.00	36.46%	$9,503.79	$130.19
1.20	74.40	37.16%	$9,686.06	$156.23

0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00

0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00

200.20	100%	$26,063.83		

$385.11	$1,600.00	$0.00	$1,985.11
$463.32	$1,900.00	$0.00	$2,363.32
$541.53	$2,200.00	$0.00	$2,741.53

$301.62	$0.00	$1,600.00	$1,901.62
$358.96	$0.00	$1,900.00	$2,258.96
$416.30	$0.00	$2,200.00	$2,616.30

$72.27	$0.00	$0.00	$72.27
$72.27	$0.00	$0.00	$72.27
$72.27	$1,900.00	$0.00	$1,972.27
$72.27	$2,200.00	$0.00	$2,272.27
$72.27	$0.00	$0.00	$72.27
$72.27	$0.00	$0.00	$72.27

$72.27	$0.00	$0.00	$72.27
$72.27	$0.00	$0.00	$72.27
$72.27	$0.00	$0.00	$72.27		

LESS: Clay County Collection Costs (2%) and Early Payment Discounts (4%):	($9,244.53)	($5,585.11)	($5,553.19)	($1,563.83)

Net Revenue to be Collected:	$144,831.00	$87,500.00	$87,000.00	$24,500.00	

(1) Reflects the number of total lots anticipated to be ecumbered by the Series 2025-1 and Series 2025-2.

(2) Annual PRELIMINARY debt service assessment per lot anticipated to be adopted in connection with the upcoming Series 2025-1 and Series 2025-2 bond issues. Annual assessment includes principal, interest, Clay County collection costs and early payment discount costs.

(3) The FY 2025-2026 assessments will be billed directly by the District due to anticipated plat timing, and therefore will exclude county collection costs and discounts. However, the amounts shown include all applicable county collection costs and discounts for illustrative purposes.	

6

EXPENDITURES – ADMINISTRATIVE:

Supervisor Fees: The District may compensate its supervisors within the appropriate statutory limits of
$200.00 maximum per meeting within an annual cap of $4,800.00 per supervisor.

Administrative Services: The District will incur expenditures for the day to today operation of District matters. These services include support for the District Management function, recording and preparation of meeting minutes, records retention and maintenance in accordance with Chapter 119, Florida Statutes, and the District’s adopted Rules of Procedure, preparation and delivery of agenda, overnight deliveries, facsimiles and phone calls.
District Management: The District as required by statute, will contract with a firm to provide for management and administration of the District’s day to day needs. These service include the conducting of board meetings, workshops, overall administration of District functions, all required state and local filings, preparation of annual budget, purchasing, risk management, preparing various resolutions and all other secretarial duties requested by the District throughout the year is also reflected in this amount.

District Engineer: The District’s engineer provides general engineering services to the District. Among these services are attendance at and preparation for monthly board meetings, review of construction invoices and all other engineering services requested by the district throughout the year.
Disclosure Report: The District is required to file quarterly and annual disclosure reports, as required in the District’s Trust Indenture, with the specified repositories. This is contracted out to a third party in compliance with the Trust Indenture.

Trustee’s Fees: The District will incur annual trustee’s fees upon the issuance of bonds for the oversight of the various accounts relating to the bond issues.

Assessment Roll: The District will contract with a firm to prepare, maintain and certify the assessment roll(s) and annually levy a non-ad valorem assessment for operating and debt service expenses.
Financial & Revenue Collections: Services of the Collection Agent include all functions necessary for the timely billing and collection and reporting of District assessments in order to ensure adequate funds to meet the District’s debt service and operations and maintenance obligations. The Collection Agent also maintains and updates the District’s lien book(s) annually and provides for the release of liens on property after the full collection of bond debt levied on particular properties.

Accounting Services: Services include the preparation and delivery of the District’s financial statements in accordance with Governmental Accounting Standards, accounts payable and accounts receivable functions, asset tracking, investment tracking, capital program administration and requisition processing, filing of annual reports required by the State of Florida and monitoring of trust account activity.

Auditing Services: The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting firm, once it reaches certain revenue and expenditure levels, or has issued bonds and incurred debt.

7

Arbitrage Rebate Calculation: The District is required to calculate the interest earned from bond proceeds each year pursuant to the Internal Revenue Code of 1986. The Rebate Analyst is required to verify that the District has not received earnings higher than the yield of the bonds.
Travel: Each Board Supervisor and the District Staff are entitled to reimbursement for travel expenses per Florida Statutes 190.006(8).
Public Officials Liability Insurance: The District will incur expenditures for public officials’ liability insurance for the Board and Staff.

Legal Advertising: The District will incur expenditures related to legal advertising. The items for which the District will advertise include, but are not limited to meeting schedules, special meeting notices, and public hearings, bidding etc. for the District based on statutory guidelines
Bank Fees: The District will incur bank service charges during the year.

Dues, Licenses & Fees: The District is required to pay an annual fee to the Department of Economic Opportunity, along with other items which may require licenses or permits, etc.
Miscellaneous Fees: The District could incur miscellaneous throughout the year, which may not fit into any standard categories.
Website Hosting, Maintenance and Email: The District may incur fees as they relate to the development and ongoing maintenance of its own website along with possible email services if requested.

District Counsel: The District’s legal counsel provides general legal services to the District. Among these services are attendance at and preparation for monthly board meetings, review of operating and maintenance contracts and all other legal services requested by the district throughout the year.

EXPENDITURES - FIELD OPERATIONS:

Deputy Services: The District may wish to contract with the local police agency to provide security for the District.

Security Services and Patrols: The District may wish to contract with a private company to provide security for the District.
Electric Utility Services: The District will incur electric utility expenditures for general purposes such as irrigation timers, lift station pumps, fountains, etc.

Street Lights: The District may have expenditures relating to street lights throughout the community. These may be restricted to main arterial roads or in some cases to all street lights within the District’s boundaries.

8

Utility - Recreation Facility: The District may budget separately for its recreation and or amenity electric separately.

Gas Utility Services: The District may incur gas utility expenditures related to district operations at its facilities such as pool heat etc.
Garbage - Recreation Facility: The District will incur expenditures related to the removal of garbage and solid waste.

Solid Waste Assessment Fee: The District may have an assessment levied by another local government for solid waste, etc.
Water-Sewer Utility Services: The District will incur water/sewer utility expenditures related to district operations.

Utility - Reclaimed: The District may incur expenses related to the use of reclaimed water for irrigation.
Aquatic Maintenance: Expenses related to the care and maintenance of the lakes and ponds for the control of nuisance plant and algae species.

Fountain Service Repairs & Maintenance: The District may incur expenses related to maintaining the fountains within throughout the Parks & Recreational areas
Lake/Pond Bank Maintenance: The District may incur expenditures to maintain lake banks, etc. for the ponds and lakes within the District’s boundaries, along with planting of beneficial aquatic plants, stocking of fish, mowing and landscaping of the banks as the District determines necessary.

Wetland Monitoring & Maintenance: The District may be required to provide for certain types of monitoring and maintenance activities for various wetlands and waterways by other governmental entities.

Mitigation Area Monitoring & Maintenance: The District may be required to provide for certain types of monitoring and maintenance activities for various mitigation areas by other governmental entities.
Aquatic Plant Replacement: The expenses related to replacing beneficial aquatic plants, which may or may not have been required by other governmental entities.
General Liability Insurance: The District will incur fees to insure items owned by the District for its general liability needs
Property Insurance: The District will incur fees to insure items owned by the District for its property needs

Entry and Walls Maintenance: The District will incur expenditures to maintain the entry monuments and the fencing.

9

Landscape Maintenance: The District will incur expenditures to maintain the rights-of-way, median strips, recreational facilities including pond banks, entryways, and similar planting areas within the District. These services include but are not limited to monthly landscape maintenance, fertilizer, pesticides, annuals, mulch, and irrigation repairs.

Irrigation Maintenance: The District will incur expenditures related to the maintenance of the irrigation systems.

Irrigation Repairs: The District will incur expenditures related to repairs of the irrigation systems.

Landscape Replacement: Expenditures related to replacement of turf, trees, shrubs etc.
Field Services: The District may contract for field management services to provide landscape maintenance oversight.

Miscellaneous Fees: The District may incur miscellaneous expenses that do not readily fit into defined categories in field operations.
Gate Phone: The District will incur telephone expenses if the District has gates that are to be opened and closed.
Street/Parking Lot Sweeping: The District may incur expenses related to street sweeping for roadways it owns or are owned by another governmental entity, for which it elects to maintain.
Gate Facility Maintenance: Expenses related to the ongoing repairs and maintenance of gates owned by the District if any.

Sidewalk Repair & Maintenance: Expenses related to sidewalks located in the right of way of streets the District may own if any.

Roadway Repair & Maintenance: Expenses related to the repair and maintenance of roadways owned by the District if any.
Employees - Salaries: The District may incur expenses for employees/staff members needed for the recreational facilities such as Clubhouse Staff.
Employees - P/R Taxes: This is the employer’s portion of employment taxes such as FICA etc.

Employee - Workers’ Comp: Fees related to obtaining workers compensation insurance.

Management Contract: The District may contract with a firm to provide for the oversight of its recreation facilities.
Maintenance & Repair: The District may incur expenses to maintain its recreation facilities.

Facility Supplies: The District may have facilities that required various supplies to operate.

10

Gate Maintenance & Repairs: Any ongoing gate repairs and maintenance would be included in this line item.

Telephone, Fax, Internet: The District may incur telephone, fax and internet expenses related to the recreational facilities.
Office Supplies: The District may have an office in its facilities which require various office related supplies.

Clubhouse - Facility Janitorial Service: Expenses related to the cleaning of the facility and related supplies.
Pool Service Contract: Expenses related to the maintenance of swimming pools and other water features.

Pool Repairs: Expenses related to the repair of swimming pools and other water features.

Security System Monitoring & Maintenance: The District may wish to install a security system for the clubhouse
Clubhouse Miscellaneous Expense: Expenses which may not fit into a defined category in this section of the budget
Athletic/Park Court/Field Repairs: Expense related to any facilities such as tennis, basketball etc.

Trail/Bike Path Maintenance: Expenses related to various types of trail or pathway systems the District may own, from hard surface to natural surfaces.
Special Events: Expenses related to functions such as holiday events for the public enjoyment

Miscellaneous Fees: Monies collected and allocated for fees that the District could incur throughout the year, which may not fit into any standard categories.

Miscellaneous Contingency: Monies collected and allocated for expenses that the District could incur throughout the year, which may not fit into any standard categories.
Capital Outlay: Monies collected and allocated for various projects as they relate to public improvements.

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DEBT SERVICE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION
The Debt Service Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Debt Service Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Special Assessments: The District may levy special assessments to repay the debt incurred by the sale of bonds to raise working capital for certain public improvements. The assessments may be collected in the same fashion as described in the Operations and Maintenance Assessments.

EXPENDITURES – ADMINISTRATIVE:

Bank Fees: The District may incur bank service charges during the year.

Debt Service Obligation: This would a combination of the principal and interest payment to satisfy the annual repayment of the bond issue debt.

RESOLUTION 2025-12
[FY 2026 APPROPRIATION RESOLUTION]

THE ANNUAL APPROPRIATION RESOLUTION OF THE FEED MILL COMMUNITY DEVELOPMENT DISTRICT (“DISTRICT”) RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGET(S) FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2025, AND ENDING SEPTEMBER 30, 2026; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, for the fiscal year beginning October 1, 2025, and ending September 30, 2026 (“FY 2026”), the District Manager prepared and submitted to the Board of Supervisors (“Board”) of the Feed Mill Community Development District (“District”) proposed budget(s) (“Proposed Budget”) along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Section 190.008(2)(a), Florida Statutes; and
WHEREAS, at least sixty (60) days prior to the adoption of the Proposed Budget, the District filed a copy of the Proposed Budget with the local general-purpose government(s) having jurisdiction over the area included in the District pursuant to the provisions of Section 190.008(2)(b), Florida Statutes; and

WHEREAS, the Board set a public hearing on the Proposed Budget and caused notice of such public hearing to be given by publication pursuant to Section 190.008(2)(a), Florida Statutes; and

WHEREAS, the District Manager will post the Proposed Budget on the District’s website in
accordance with Chapter 189, Florida Statutes; and
WHEREAS, Section 190.008(2)(a), Florida Statutes, requires that, prior to October 1st of each year, the Board, by passage of the Annual Appropriation Resolution, shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE FEED MILL COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1.   BUDGET
The Proposed Budget, attached hereto as Exhibit A, as amended by the Board, is hereby adopted in accordance with the provisions of Section 190.008(2)(a), Florida Statutes (“Adopted Budget”), and incorporated herein by reference; provided, however, that the comparative figures contained in the Adopted Budget may be subsequently revised as deemed necessary by the District Manager to reflect actual revenues and expenditures.

The Adopted Budget, as amended, shall be maintained in the office of the District Manager and at the District’s Local Records Office and identified as “The Budget for the Feed Mill Community Development District for the Fiscal Year Ending September 30, 2026.”

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The Adopted Budget shall be posted by the District Manager on the District’s official website in accordance with Chapter 189, Florida Statutes and shall remain on the website for at least two (2) years.
SECTION 2.	APPROPRIATIONS

There is hereby appropriated out of the revenues of the District, for FY 2026, the sum(s) set forth in Exhibit A to be raised by the levy of assessments and/or otherwise, which sum is deemed by the Board to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated as set forth in Exhibit A.

SECTION 3.	BUDGET AMENDMENTS

Pursuant to Section 189.016, Florida Statutes, the District at any time within FY 2026 or within 60 days following the end of the FY 2026 may amend its Adopted Budget for that fiscal year as follows:

A line-item appropriation for expenditures within a fund may be decreased or increased by motion of the Board recorded in the minutes, and approving the expenditure, if the total appropriations of the fund do not increase.

The District Manager or Treasurer may approve an expenditure that would increase or decrease a line-item appropriation for expenditures within a fund if the total appropriations of the fund do not increase and if either (i) the aggregate change in the original appropriation item does not exceed the greater of $15,000 or 15% of the original appropriation, or (ii) such expenditure is authorized by separate disbursement or spending resolution.

Any other budget amendments shall be adopted by resolution and consistent with Florida law. The District Manager or Treasurer must ensure that any amendments to the budget under this paragraph c. are posted on the District’s website in accordance with Chapter 189, Florida Statutes, and remain on the website for at least two (2) years.

SECTION 4.	EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED THIS 27TH DAY OF AUGUST, 2025.
ATTEST:	FEED MILL COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary	Chair / Vice Chair, Board of Supervisors

Exhibit A:	FY 2026 Budget

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The Fiscal Year 2025-2026 Adopted Budget will be attached as Exhibit A

Tab 7

RESOLUTION 2024-34

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FEED MILL COMMUNITY DEVELOPMENT DISTRICT DESIGNATING DATES, TIME AND LOCATION FOR REGULAR MEETINGS OF THE BOARD OF SUPERVISORS OF THE DISTRICT, FOR FISCAL YEAR 2025/2026, AND PROVIDING FOR AN EFFECTIVE DATE

WHEREAS, Feed Mill Community Development District (hereinafter the “District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within the Clay County, Florida; and

WHEREAS, the District’s Board of Supervisors (hereinafter the “Board”) is
statutorily authorized to exercise the powers granted to the District; and

WHEREAS, all meetings of the Board shall be open to the public and governed by the provisions of Chapter 286, Florida Statutes; and
WHEREAS, the Board is statutorily required to file annually, with the local governing authority or authorities a schedule of its regular meetings; and
WHEREAS, the District is required by Florida law to prepare an annual schedule of its regular public meetings which designates the date, time, and location of the District’s meetings.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE FEED Mill COMMUNITY DEVELOPMENT DISTRICT:

The Fiscal Year 2025/2026 annual public meeting schedule attached hereto and incorporated by reference herein as Exhibit A is hereby approved and will be published and filed in accordance with Section 189.015(1), Florida Statutes.

This Resolution shall become effective immediately upon its adoption.
PASSED AND ADOPTED THIS 27th DAY OF August, 2025.

FEED MILL COMMUNITY DEVELOPMENT DISTRICT

CHAIRMAN / VICE CHAIRMAN
ATTEST:

SECRETARY / ASST. SECRETARY

EXHIBIT “A”

BOARD OF SUPERVISORS MEETING DATES FEED MILL COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2025/2026

October 22, 2025
November   , 2025
December 	, 2025
January 28, 2026
February 25, 2026
March 25, 2026
April 22, 2026
May 27, 2026
June 24, 2026
July 22, 2026
August 26, 2026
September 23, 2026

All meetings will convene at 9:00 a.m.

and will be held at 1845 Town Center Boulevard, Suite 105, Fleming Island, FL, 32003.
.