MINUTES OF MEETING LAKE EMMA
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Lake Emma Community Development District was held Wednesday, May 28, 2025, at 10:00 a.m. at the Cooper Memorial Library, 2525 Oakley Seaver Drive, Clermont, Florida.

Present and constituting a quorum:
Anthony Iorio	Chairman
Doug Beasley	Vice Chairman
Rocky Owen by phone	Assistant Secretary
Tom Franklin	Assistant Secretary Also present were:
George Flint	District Manager, GMS
Christopher Allen	District Engineer, Dewberry
Tucker Mackie	Kutak Rock, District Counsel
Robert Szozda	Field Manager, GMS

FIRST ORDER OF BUSINESS	Roll Call
Mr. Flint called the meeting to order. Three Board members were present constituting a quorum. Mr. Owen joined by phone. Mr. Flint administered the oath to Tom Franklin before the meeting.

SECOND ORDER OF BUSINESS	Public Comment Period
There were no members of the public present to provide comment.

THIRD ORDER OF BUSINESS	Approval of the Minutes from the March
26, 2025, Board of Supervisors Meeting
Mr. Flint presented the minutes from the March 26, 2025 Board of Supervisors meeting.
He asked for any comments or corrections.

On MOTION by Mr. Iorio, seconded by Mr. Beasley, with all in favor, the Minutes of the March 26, 2025 Board of Supervisors Meeting, were approved.

FOURTH ORDER OF BUSINESS	Consideration	of	Resolution	2025-04
Approving Fiscal Year 2026 Proposed Budget and Setting a Public Hearing to Adopt
Mr. Flint recommended the August 27th meeting at 10:00 a.m. in this location for the public hearing. Attached as exhibit ‘A’ is the proposed budget. There are no significant changes to this and the assessment levels remain the same. The final phase is still to be constructed and will not be online in this fiscal year. Mr. Iorio noted to make sure Dewberry prepares a maintenance map. Mr. Flint will follow up on that map.

On MOTION by Mr. Iorio, seconded by Mr. Beasley, with all in favor, Resolution 2025-04 Approving Fiscal Year 2026 Proposed Budget and Setting a Public Hearing for August 27th at 10:00 a.m. to Adopt, was approved.

FIFTH ORDER OF BUSINESS	Presentation of Series 2021 AA1 Arbitrage
Rebate Report
Mr. Flint noted the IRS requires the District to demonstrate that they are not earning more interest than they are paying. AMTEC has been retained for purposes of doing that calculation annually. There is a negative rebatable arbitrage of $266,000.

On MOTION by Mr. Iorio, seconded by Mr. Franklin, with all in favor, the Series 2021 AA1 Arbitrage Rebate Report, was approved.

SIXTH ORDER OF BUSINESS	Presentation of Fiscal Year 2024 Financial
Audit Report
Mr. Flint stated the Board hired Grau & Associates as their independent auditor and they have prepared the audit. The report to management shows no current or prior year findings. It is a clean audit.

On MOTION by Mr. Beasley, seconded by Mr. Franklin, with all in favor, the Fiscal Year 2024 Financial Audit Report, was approved.

SEVENTH ORDER OF BUSINESS	Staff Reports
Attorney
Ms. Mackie had nothing to report but offered to answer any questions. She offered to assist in reviewing the maintenance map if needed.

Engineer
Mr. Allen spoke about an email from Rob regarding erosion issues. He is going out to take a look at the site in the next couple of weeks and will address the erosion at that time. Mr. Szozda requested to see the report up front before going public with it.

Field Manager
There being no comments, the next item followed.

District Manager’s Report
Check Run Summary
Mr. Flint presented the check run summary for approval.

On MOTION by Mr. Iorio, seconded by Mr. Beasley, with all in favor, the Check Run Summary, was approved.

Balance Sheet and Income Statement
Mr. Flint presented the unaudited financials through the end of April.

Presentation of Registered Voters – 821
Mr. Flint stated there are 821 registered voters in the District. The District was created in 2019. He will confirm the transition of the first two seats in 2028.

Reminder of Form 1 Filing Deadline – July 1st
Mr. Flint reminded the Board that Form 1 is due by July 1st.

EIGHTH ORDER OF BUSINESS	Other Business
There being no comments, the next item followed.

NINTH ORDER OF BUSINESS	Supervisors Requests
There being no comments, the next item followed.

TENTH ORDER OF BUSINESS	Adjournment
The meeting was adjourned.

On MOTION by Mr. Beasley, seconded by Mr. Franklin, with all in favor, the meeting was adjourned.

Secretary/Assistant Secretary	Chairman/Vice Chairman