CityPlace Community Development District

Proposed Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (2012) IV	DETAILED PROPOSED DEBT SERVICE FUND BUDGET (2018)

PROPOSED BUDGET
CITYPLACE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020
BUDGET	
Assessments - Administrative	0	
Excess Revenue Funds	292,029	
Assessments - Maintenance	2,757,570	
Parking Revenue	5,045,160	
Sponsor & Promotion Revenue	108,300	
Rental Income	45,000	
Tenant CAM Reimbursement	662,900	
Other Income	0	
Interest Income	180	
		
TOTAL REVENUES	$	8,911,139	
		
EXPENDITURES		
ADMINISTRATIVE/MAINTENANCE EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	400	
Engineering	5,000	
Management Fee	39,504	
Legal	45,000	
Audit Fees	8,700	
Arbitrage Rebate Fee	1,800	
Insurance	55,000	
Legal Advertising	1,400	
Bank Service Charges	425	
Miscellaneous	1,355	
Postage	250	
Office Supplies	700	
Dues & Subscriptions	175	
Trustee Fees	14,000	
Continuing Disclosure Fee	2,500	
Website Management	1,500	
Roadway & Sidewalk Maintenance	109,500	
		
TOTAL ADMINISTRATIVE/MAINTENANCE EXPENDITURES	$	292,209	
		
MAINTENANCE EXPENDITURES		
Palladium CDD Property		
Parking Expenses	2,300,000	
Administrative	450,000	
Payroll	713,500	
Professional Fees	95,000	
Sweeping and Cleaning	465,000	
Utilities	825,000	
Insurance	65,000	
Landscaping And Irrigation	247,900	
Contracted Services	170,000	
Repairs & Maintenance	185,000	
Security	2,100,000	
Marketing	450,000	
Management Fee	200,000	
Plaza CDD Property		
Plaza Entertainment	325,000	
Signage	27,530	
		
TOTAL MAINTENANCE EXPENDITURES	$	8,618,930	
		
TOTAL EXPENDITURES	$	8,911,139	
		
EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
CITYPLACE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018
ACTUAL	
FISCAL YEAR 2018/2019
BUDGET	
FISCAL YEAR 2019/2020
BUDGET	

COMMENTS	
Assessments - Administrative	163,503	143,592	0		
Excess Revenue Funds	0	0	292,029	Excess Revenue Funds Payment	
Assessments - Maintenance	1,786,889	2,757,570	2,757,570	No Change From 2018/2019 Budget	
Parking Revenue	4,609,603	5,045,160	5,045,160	No Change From 2018/2019 Budget	
Sponsor & Promotion Revenue	30,513	108,300	108,300	No Change From 2018/2019 Budget	
Rental Income	41,087	45,000	45,000	No Change From 2018/2019 Budget	
Tenant CAM Reimbursement	432,413	662,900	662,900	No Change From 2018/2019 Budget	
Other Income	12,950	0	0		
Interest Income	592	0	180	Projected At $15 Per Month	
					
TOTAL REVENUES	$	7,077,550	$	8,762,522	$	8,911,139		
					
EXPENDITURES					
ADMINISTRATIVE/MAINTENANCE EXPENDITURES					
Supervisor Fees	8,400	4,000	5,000	Projected At Five Meetings Per Year	
Payroll Taxes (Employer)	643	320	400	Projected At 8% Of Supervisor Fees	
Engineering	12,950	5,000	5,000	No Change From 2018/2019 Budget	
Management Fee	37,980	38,772	39,504	CPI Adjustment	
Legal	40,915	9,000	45,000	$36,000 Increase From 2018/2019 Budget	
Audit Fees	8,500	8,600	8,700	$100 Increase From 2018/2019 Budget	
Arbitrage Rebate Fee	950	950	1,800	Increased Due To Second Bond	
Insurance	44,243	55,000	55,000	Insurance Estimate	
Legal Advertising	4,727	1,400	1,400	No Change From 2018/2019 Budget	
Bank Service Charges	346	425	425	No Change From 2018/2019 Budget	
Miscellaneous	955	1,200	1,355	$155 Increase From 2018/2019 Budget	
Postage	104	250	250	No Change From 2018/2019 Budget	
Office Supplies	681	500	700	$200 Increase From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fees	6,097	14,000	14,000	Two Bond Issues	
Continuing Disclosure Fee	1,000	2,500	2,500	Two Bond Issues	
Website Management	1,500	1,500	1,500	$500 Increase From 2018/2019 Budget	
Roadway & Sidewalk Maintenance	0	0	109,500	Roadway & Sidewalk Maintenance	
					
TOTAL ADMINISTRATIVE/MAINTENCE EXPENDITURES	$	170,166	$	143,592	$	292,209		
					
MAINTENANCE EXPENDITURES					
Palladium CDD Property					
Parking Expenses	1,746,350	2,300,000	2,300,000	No Change From 2018/2019 Budget	
Administrative	427,659	450,000	450,000	No Change From 2018/2019 Budget	
Payroll	616,544	713,500	713,500	No Change From 2018/2019 Budget	
Professional Fees	39,567	95,000	95,000	No Change From 2018/2019 Budget	
Sweeping and Cleaning	376,947	465,000	465,000	No Change From 2018/2019 Budget	
Utilities	807,873	825,000	825,000	No Change From 2018/2019 Budget	
Insurance	40,503	65,000	65,000	No Change From 2018/2019 Budget	
Landscaping And Irrigation	204,918	247,900	247,900	No Change From 2018/2019 Budget	
Contracted Services	164,753	170,000	170,000	No Change From 2018/2019 Budget	
Repairs & Maintenance	147,048	185,000	185,000	No Change From 2018/2019 Budget	
Security	1,568,532	2,100,000	2,100,000	No Change From 2018/2019 Budget	
Marketing	294,029	450,000	450,000	No Change From 2018/2019 Budget	
Management Fee	200,000	200,000	200,000	No Change From 2018/2019 Budget	
Plaza CDD Property					
Plaza Entertainment	263,607	325,000	325,000	No Change From 2018/2019 Budget	
Signage	2,174	27,530	27,530	No Change From 2018/2019 Budget	
					
TOTAL MAINTENANCE EXPENDITURES	$	6,900,504	$	8,618,930	$	8,618,930		
					
TOTAL EXPENDITURES	$	7,070,670	$	8,762,522	$	8,911,139		
					
EXCESS/ (SHORTFALL)	$	6,880	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND (SERIES 2012) BUDGET
CITYPLACE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR

2017/2018

ACTUAL	
FISCAL YEAR

2018/2019

BUDGET	
FISCAL YEAR

2019/2020

BUDGET	

COMMENTS	

Interest Income	
79,976	
5,000	
10,000	
Projected Interest For 2019/2020	

Tax Incremental Revenues	
4,283,429	
4,283,429	
4,488,279	
Projected 2020 TIF - 2019 TIF Was $4,488,279	

Developer Contributions	
0	
0	
0	
TIF Projected To Be More Than P&I Payments	

Total Revenues	
$	4,363,405	
$	4,288,429	
$	4,498,279		

EXPENDITURES					

Principal Payments	
2,750,000	
2,890,000	
3,040,000	
Principal Payment Due In 2020	

Interest Payments	
1,524,250	
1,314,500	
1,166,250	
Interest Payments Due In 2020	

Excess Revenue Funds Payment	
0	
83,929	
292,029	

Estimated Excess Debt Collections Due To General Fund	

Total Expenditures	
$	4,274,250	
$	4,288,429	
$	4,498,279		

Excess/ (Shortfall)	
$	89,155	
$	-	
$	-		

Series 2012 Bond Refunding Information

Original Par Amount =	$39,890,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	5.00%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date = Maturity Date =	April 2012
May 2026			

Par Amount As Of 1/1/19 =	
$27,735,000			

DETAILED PROPOSED DEBT SERVICE FUND (SERIES 2018) BUDGET
CITYPLACE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR

2017/2018

ACTUAL	
FISCAL YEAR

2018/2019

BUDGET	
FISCAL YEAR

2019/2020

BUDGET	

COMMENTS	

Interest Income	
0	
0	
0	
Projected Interest For 2019/2020	

Tax Incremental Revenues	
0	
0	
0	
TIF For Series 2018 Will Commence In 2026	

Developer Contributions	
0	
0	
0	
TIF Projected To Be More Than P&I Payments	

Total Revenues	
$	-	
$	-	
$	-		

EXPENDITURES					

Principal Payments	
0	
0	
0	
No Principal Payment Due In 2020	

Interest Payments	
0	
0	
0	
No Interest Payment Due In 2020	

Excess Revenue Funds Payment	
0	
0	
0	

Estimated Excess Debt Collections Due To General Fund	

Total Expenditures	
$	-	
$	-	
$	-		

Excess/ (Shortfall)	
$	-	
$	-	
$	-		

Series 2018 Bond Principal & Interest Payments Will Commence In 2026

Series 2018 Bond Information
Original Par Amount =	$41,954,466	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.65% - 4.5%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date = Maturity Date =	November 2018
May 2046			

Par Amount As Of 1/1/19 =	
$41,954,466