City Place Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET - SERIES 2012 III	AMENDED FINAL DEBT SERVICE FUND BUDGET - SERIES 2018

AMENDED FINAL BUDGET
CITY PLACE COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET
10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR  TO DATE ACTUAL
10/1/19 - 9/29/20	
Assessments - Administrative	0	0	0	
Assessments - Maintenance	2,492,570	3,601,685	3,601,685	
Parking Revenue	5,045,160	7,567,740	7,567,740	
Sponsor & Promotion	108,300	162,450	162,450	
Rental Income	45,000	67,500	67,500	
Tenant CAM Reimbursement	662,900	994,350	994,350	
Excess Revenue Funds	292,029	793,715	793,715	
Interest Income	180	661	661	
				
TOTAL REVENUES	$	8,646,139	$	13,188,101	$	13,188,101	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	5,000	0	0	
Payroll Taxes - Employer	400	0	0	
Engineering	5,000	1,000	0	
Management Fee	39,504	39,504	39,504	
Legal	45,000	25,133	25,133	
Audit Fees	8,700	6,500	6,500	
Arbitrage Rebate Fee	1,800	1,300	1,300	
Insurance	55,000	42,054	42,054	
Legal Advertising	1,400	2,000	1,589	
Bank Service Charges	425	334	334	
Miscellanous	855	850	771	
Postage	250	100	92	
Office Supplies	700	325	300	
Dues & Subscriptions	175	175	175	
Trustee Fees	14,000	9,969	9,969	
Continuing Disclosure Fee	2,500	1,000	1,000	
Website Management	2,000	2,000	2,000	
Roadway & Sidewalk Maintenance	109,500	450,000	249,804	
TOTAL ADMINISTRATIVE EXPENDITURES	$	292,209	$	582,244	$	380,525	
				
MAINTENANCE EXPENDITURES				
Palladium CDD Property				
Parking Expense	2,100,000	3,150,000	3,150,000	
Administrative	450,000	675,000	675,000	
Payroll	713,500	1,070,250	1,070,250	
Professional Fees	95,000	142,500	142,500	
Sweeping and Cleaning	550,000	825,000	825,000	
Utilities	775,000	1,162,500	1,162,500	
Insurance	65,000	97,500	97,500	
Landscaping & Irrigation	247,900	371,850	371,850	
Contracted Services	170,000	255,000	255,000	
Repairs & Maintenance	185,000	277,500	277,500	
Security	2,000,000	3,000,000	3,000,000	
Marketing	450,000	675,000	675,000	
Management Fee	200,000	200,000	200,000	
Plaza CDD Property				
Plaza Entertainment	325,000	487,500	487,500	
Signage	2,750	4,125	4,125	
				
TOTAL MAINTENANCE EXPENDITURES	$	8,329,150	$	12,393,725	$	12,393,725	
				
TOTAL EXPENDITURES	$	8,621,359	$	12,975,969	$	12,774,250	
				
EXCESS/ (SHORTFALL)	$	24,780	$	212,132	$	413,851	

Fund Balance As Of 9/30/2019	
FY 2019/2020 Activity	
Fund Balance As Of 9/30/2020	

$285,126	
$212,132	
$497,258	

Note
Maintenance (Non-Management) Line Items Are Allocated At 150 Percent Of Fiscal Year 2019/2020 Budget.

10/23/2020  11:53 AM	I

AMENDED FINAL BUDGET
CITY PLACE COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND - SERIES 2012
FISCAL YEAR 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET
10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
Interest Income	10,000	53,002	52,932	
Tax Incremental Revenues	4,488,279	4,560,804	4,560,804	
Tax Coverage Revenues	0	3,142,131	3,142,131	
Developer Contributions	0	0	0	
Total Revenues	$	4,498,279	$	7,755,937	$	7,755,867	
				
EXPENDITURES				
Principal Payments (2012)	3,040,000	3,040,000	3,040,000	
Interest Payments (2012)	1,166,250	1,242,250	1,242,250	
Bond Redemption	0	0	0	
Excess Coverage Revenues Fund Payment	0	3,147,062	3,147,062	
Excess Revenue Fund Payment	292,029	793,715	793,715	
Total Expenditures	$	4,498,279	$	8,223,027	$	8,223,027	
				
Excess/ (Shortfall)	$	-	$	(467,090)	$	(467,160)	

Fund Balance As Of 9/30/2019	
FY 2019/2020 Activity	
Fund Balance As Of 9/30/2020	

$5,221,092	
($467,090)	
$4,754,002	

Notes
Reserve Fund Balance = $4,207,875*. Revenue Fund Balance = $546,127*.
Revenue Fund Balance To Be Used To Make 11/1/2020 Interest Payment Of $545,125.
* Approximate Amounts

Series 2012 Refunding Bonds Information		
Original Par Amount =	$39,890,000	Annual Principal Payments Due:	
Interest Rate =	5.00%	May 1st	
Issue Date =	April 2012	Annual Interest Payments Due:	
Maturity Date =	May 2026	May 1st & November 1st	
Par Amount As Of 9/30/20 =	$21,805,000		

10/23/2020 11:53 AM	II

AMENDED FINAL BUDGET
CITY PLACE COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND - SERIES 2018
FISCAL YEAR 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET
10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
Interest Income	0	0	0	
Miscellaneous Income	0	0	0	
Tax Incremental Revenues	0	0	0	
Tax Coverage Revenues	0	0	0	
Developer Contributions	0	0	0	
Total Revenues	$	-	$	-	$	-	
				
EXPENDITURES				
Principal Payments (2018)	0	0	0	
Interest Payments (2018)	0	0	0	
Bond Redemption	0	0	0	
Excess Coverage Revenues Fund Payment	0	0	0	
Excess Revenue Fund Payment	0	0	0	
Total Expenditures	$	-	$	-	$	-	
				
Excess/ (Shortfall)	$	-	$	-	$	-	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$1	
$0	
$1	

Notes
Reserve Fund Balance = $1
Fiscal Year Capital Projects Fund Proceeds = $41,954,466 Fiscal Year 2018/2019 Capital Outlays = $19,381,594
Projected Fiscal Year 2019/2020 Capital Outlays = $20,000,000*
* Approximate Amount

Series 2018 Bond Principal & Interest Payments Will Commence In 2026

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

Par Amount As Of 9/30/20 =	May 2046

$41,954,466	May 1st & November 1st	

10/23/2020 11:53 AM	III