Reunion West Community Development District

Agenda December 12, 2019

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Reunion West
Community Development District

135 W. Central Blvd., Suite 320, Orlando FL, 32801
Phone: 407-841-5524- Fax: 407-839-1526

December 5, 2019

Board of Supervisors Reunion West Community Development District

Dear Board Members:

The special meeting of the Board of Supervisors of the Reunion West Community Development District will be held Thursday, December 12, 2019 at 12:30 p.m. at the Heritage Crossing Community Center, 7715 Heritage Crossing Way, Reunion, FL. Following is the advance agenda for the meeting:

Roll Call
Public Comment Period
Approval of the Minutes of the October 10, 2019 Meeting
Consideration of Resolution 2020-01 Approving the Execution of the Reunion Fairways 17 & 18 Phase 3 Plat
Discussion of Sidewalks
Discussion of Potential Recreation/Dog Park in Heritage Preserve
Consideration	of	Proposal	from   SunScape	Consulting	to	Provide	Landscape Management Services
Staff Reports
A Attorney
Engineer
District Manager's Report
Action Items List
Approval of Check Register
Balance Sheet and Income Statement
Status of Direct Bill Assessments
Presentation of Arbitrage Rebate Calculation Reports
Presentation of Revised Number of Registered Voters - 240
Other Business
Supervisor's Requests
Next Meeting Date
Adjournment

The second order of business is the Public Comment Period where the public has an opportunity to be heard on propositions coming before the Board as reflected on the agenda, and any other items.

The third order of business is the approval of the minutes of the October 10, 2019 meeting. The minutes are enclosed for your review.

The fourth order of business is the consideration of Resolution 2020-01 approving the execution of the Reunion Fairways 17 & 18 Phase 3 Plat. A copy of the Resolution is enclosed for your review.

The fifth order of business is the discussion of sidewalks being added in certain areas of the community. This is an open discussion item and there is no back-up material available.

The sixth order of business is the discussion of a potential recreation/ dog park area on the CDD parcel in Heritage Preserve. The property information card is enclosed for your review.

The seventh order of business is the

The eighth order of business is Staff Reports. Section 1 of the District Manager's Report is the presentation and discussion of the action items list. A copy of the list is enclosed for your review. Section 2 is the check register for approval and Section 3 is the balance sheet and income statement. Both items will be provided under separate cover. Section  4  is  the discussion of the status of the direct bill assessment collections. A table with the direct bill information is enclosed for your review. Section 5 is the presentation of the arbitrage rebate calculation reports for the Series 2004 and Series 2015 bonds. Both reports are enclosed for your review. Section 6 is the presentation of the revised number of registered voters. A copy of the letter from the Supervisor of Elections is enclosed for your review.

The balance of the agenda will be discussed at the meeting. In the meantime, if you have any questions, please contact me.

Sincerely,

George S. Flint District Manager

Cc:		Jan Carpenter, District Counsel Steve Boyd, District Engineer

Enclosures

M INUTES

MINUTES OF MEETING REUNION WEST
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Reunion West Community Development District was held on Thursday, October 10, 2019 at 12:30 p.m. at the Heritage Crossing Community Center, 7715 Heritage Crossing Way, Reunion, Florida.

Present and constituting a quorum were:

John Chiste Mark Greenstein Debbie Musser Michael Mancke David Burman

Also present were:

George Flint Andrew d' Adesky
Xabier Guerricogoitia Alan Scheerer
Rob Stultz Residents

Chairman by phone Vice Chairman Assistant Secretary Assistant Secretary Assistant Secretary

District Manager District Counsel District Engineer Field Manager
Yellowstone Landscape

FIRST ORDER OF BUSINESS	Roll Call
Mr. Flint called the meeting to order at 12:30 p.m. and called the roll. Mr. Greenstein, Mr. Burman, Ms. Musser and Mr. Mancke were present in person and Mr. Chiste was present by phone.

SECOND ORDER OF BUSINESS	Public Comment Period
Mr. Flint: Do any members of the public have comments for the Board? Hearing none,

THIRD ORDER OF BUSINESS	Approval of the Minutes of the September
12, 2019 Meeting
Mr. Flint: Did the Board have any comments? Mr. Greenstein: I thought they were good.

On MOTION by Mr. Greenstein seconded by Ms. Musser with all in favor the Minutes of the September 12, 2019 Meeting Minutes were approved, as presented.

FOURTH ORDER OF BUSINESS	Consideration	of	Security	Services
Interlocal
Mr. d' Adesky: I tried to keep the Interlocal Agreement as simple as possible and very short. The previous Interlocal Agreement put security services into context. It was one of the services that was mentioned, but I wanted to make sure that we made it clear that Reunion West was consenting to Reunion East entering into the Provider Agreement on behalf of Reunion West. They are basically consenting to it being one agreement with the POA for security services. Once it's signed, it will be executed; hopefully by Reunion East, allowing them to enter into their Security Services Agreement, which has been worked on for over the past month.
Mr. Burman: That's where all of the details are?
Mr. d' Adesky: All of the details are in the actual Security Services Agreement that will be on the Reunion East CDD agenda.

On MOTION by Mr. Greenstein seconded by Mr. Burman with all in favor the Interlocal Agreement between the Reunion East CDD and Reunion West CDD for Security Services was approved.

FIFTH ORDER OF BUSINESS	Consideration of Aquatic Maintenance
Agreement	with	Applied	Aquatic Management, Inc.
Mr. Scheerer: There's one pond that the CDD maintains on the west side of Reunion, off of Grand Traverse Parkway and the cul-de-sac by Wynstone Way. This contract will provide aquatic maintenance for the next 12 months for the same dollar amount with no increase. Staff recommends approval.
Mr. Mancke: There's a 3% minimum increase per year.
Mr. Scheerer: They have the ability to do it, but never done it.
Mr. Flint: We also have the ability to not renew or terminate with 30 days notice. They reserve that. Every once in a while, they will ask for the increase, but it's not every year. If they ask for it and we don't want to do that, then we can solicit other proposals.

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On MOTION by Mr. Greenstein seconded by Mr. Chiste with all in favor the Aquatic Maintenance Agreement with Applied Aquatic Management for 12 months of aquatic maintenance for the pond on the west side of Reunion off of Grand Traverse Parkway and the cul­ de-sac by Wynstone Way in the amount of $1,584 was approved.

SIXTH ORDER OF BUSINESS	Consideration of Agreement with Grau &
Associates to Provide Auditing Services for Fiscal Year 2019
Mr. Flint: The Board previously selected Grau & Associates as the independent auditor. They provided pricing in their proposal when they were selected, which is consistent with the amount they provided and in accordance with the budget.

On MOTION by Mr. Chiste seconded by Mr. Greenstein with all in favor the Agreement with Grau & Associates to provide auditing services for Fiscal Year 2019 in the amount of $5,200 was approved.

SEVENTH ORDER OF BUSINESS	Consideration	of	Proposal	from
Fausnight Stripe & Line for Cross Walks and Stop Signs
Mr. Flint: We obtained a proposal from Fausnight for work both in Reunion West and Reunion East. Alan, do you want to discuss the scope? He provided some maps to the Board.
Mr. Scheerer: There are actually four locations; three that were brought up at prior Board meetings. There is a crosswalk as you turn from Heritage Crossing Way to Reunion Boulevard. It never had any striping or pedestrian markings so we would like to include that. The first map is for Reunion West, coming from the 1-4 bridge and the west guardhouse. The proposal includes two thermoplastic stop bars and two advanced warning signs, because traffic is going from east to west and from the guardhouse to the I-4 bridge without any stop signs. So, there will be some advanced warning signs along with some red flags. We asked them to add underneath each of the stop signs, a little sign, so when you get up to the stop sign, it indicates there is a four-way stop. There will also be, "Stop Ahead" signs with the flags as indicated. The other locations are Tradition Boulevard and Golden Bear Drive and an area right outside of Heritage Crossings. There is an existing crosswalk, the Reunion Boulevard crosswalk, but it has no markings. So, we asked them to include a thermoplastic crosswalk, pedestrian signs, directional arrows (picture with a pedestrian with an arrow pointed down), fluted pole with decorative backdrop as well as the base and finial. That's on the second map in the proposal. The next one is the Seven Eagles Way crosswalk. For the third map, there are two crosswalks in the center from Seven Eagles Way
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to Grand Traverse Parkway; however, the back lot has now been used as an employee lot. We were asked to look at that and any additional signage and stop bars. The fourth map is for the intersection of Tradition Boulevard and Spine Road, where we will have additional stop bars, decorative signs, finial, backplates and advanced warning signs in both directions. The total cost of the project is $12,300. On Grand Traverse Parkway, by the water park, there is a standalone sign in the middle, that's included in the proposal. I think it was $410. It is an in-street pedestrian crossing with a base.
Mr. Greenstein: Is this funded in the Interlocal Agreement? Mr. Flint: Yes. It would be proposed as a shared cost.
Mr. d' Adesky: It's the definition of a shared cost.
Mr. Scheerer: The main idea with the four-way stops is to provide advanced warnings. There will be galvanized posts on the east side was well, but they will be viewed as temporary signs. If the Board chooses to leave them there, we could change them over at some point to the decorative posts. Right now, the advanced warning signs will be galvanized with two flags saying, "Stop Ahead."
Mr. Flint: You may want to look at placing flags on the stop signs. Mr. Scheerer: We can do that.

On MOTION by Mr. Greenstein seconded by Mr. Chiste with all in favor the proposal from Fausnight Stripe & Line for cross walks and stop signs in the amount of $12,300 was approved.

EIGHTH ORDER OF BUSINESS	Ratification of Series 2019 Requisitions
#2 -#3
Mr. Flint: Requisition #2 is for Greenberg, Traurig, P.A. for post-closing costs that were invoiced related to the Series 2019 bonds, which is now an eligible expense to be paid out of the Construction Acquisition Account. Then you have Requisition #3 for Boyd Civil Engineering related to review and assistance in preparation of Requisition #1 for $1,050.

On MOTION by Mr. Chiste seconded by Mr. Greenstein with all in favor Requisitions #2 - #3 for Series 2019 were ratified.

NINTH ORDER OF BUSINESS	Discussion of Landscape Maintenance -
Added
Mr. Flint: I provided a revised agenda to the Board. It is probably appropriate that both Reunion East and Reunion West have this discussion. The resort previously chose to terminate
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their agreement with Yellowstone for landscape maintenance of the resort properties. More recently, my understanding is that they provided notice that the Property Owners Association (POA) or Master HOA provide a notice of termination to Yellowstone for the contract to maintain the single-family homes, as of December 1st• The reason this is relevant to the CDD's discussion, is when we jointly bid landscape maintenance several years ago, the POA, both CDDs, the resort and Encore participated in a joint bidding of landscape maintenance. We had an Evaluation Committee rank the proposals. Yellowstone was selected so we had one provider in the community. Related to that, was the sharing of the hub building on 532, where Yellowstone is currently housed. The desire at the time was to have the parties enter into a lease agreement for that facility. That way, if there was ever a change in the maintenance provider, the entities were always assured that they would have a location for the maintenance contractor. If Yellowstone entered into that Lease Agreement and they left, we may no longer have a place for the landscape providers to be housed. So now we are in a situation where each party has a separate Lease Agreement with the owner of the hub building. The way the agreement is worded, the total amount of the Lease Agreement is referenced and then discusses how that Lease Agreement will be prorated based on the relative size of each contract. So, when the initial contract was entered into by all of the parties, there was a proration, based on the landscape maintenance contracts at the time of the commencement of that contract. Our position is that those amounts and obligations still apply to all of the parties and the CDD would only be responsible for the amounts that the CDD agreed to pay.
Mr. d' Adesky: I want to be clear. It's not our position. It's the way it was structured at the beginning. The contract is very clear on this. The obligations are several and independent. There is no joint or shared liability. Each entity is liable for its own portion. In addition, any part that's unallocated, falls on the responsibility of the landowner. Reunion East and Reunion West share a single contract.
Mr. Flint: Right.
Mr. d' Adesky: And have privity of contract. So those are the parties we have to worry

about.

Mr. Flint: That's good.
Mr. d'Adesky: It's not ambiguous.
Mr. Flint: The reason it's on here is not to argue the point about who is responsible for

paying what. We believe it's clear; however, we have a practical issue where the entire

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maintenance facility and some of the office space is reserved for a landscape contractor. It was assumed that there would be a single provider for everybody. There are certain parties that have chosen to make a change. That facility is not something you can just cut down the middle and say, "The resort and POA can use this half of the maintenance building and the CDD can use this half." Richard Nasser with Kingwood requested this item for the agenda for discussion by each Board. You have a current contract in place for maintenance and a current Lease Agreement, so if there's a desire to make a change, that would be a Board decision. If there's a desire to continue the way we are currently proceeding, that again is a Board decision.
Mr. Chiste: What is the term left on the lease?
Mr. d'Adesky: About two years, John.
Mr. Chiste: What is the full amount of that lease?
Mr. Flint: The annual amount of the contract is $200,000. Mr. d' Adesky: It comes out to approximately $200,000. Mr. Flint: For all parties.
Mr. Chiste: Unfortunately, there was always the ability to get with Yellowstone to complete the maintenance before the lease expired.
Mr. d'Adesky: It wasn't contingent upon Yellowstone. A landscaping contractor was envisioned, but what wasn't envisioned by the Board, was one or two parties going rogue, having a different vendor and trying to share that space. So what George is saying is that it's not an issue as long as the vendor, which is Kingwood, is not trying to share that space. I think the issue would come up if they were trying to utilize and share that space.
Mr. Flint: There's a Lease Agreement in effect.
Mr. d' Adesky: That's ambiguous. I haven't seen the POAs agreement with City Communities, LLC. as to the Landscaping Building Agreement, because that's a separate agreement. It's private between the Club and City Communities for the building. Those are separate and apart from the District's agreement. So, our position is that we are responsible for the District's portion and are going to continue to pay that portion. That's our obligation under the agreement.
Mr. Chiste: Understood. Thank you.
Mr. Greenstein: There are three components to it. We have indoor space.
Mr. d' Adesky: John,just so you know, the total for everything was $223,870. Thank you. Mr. Flint: Is there any discussion from the Board?
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Mr. Greenstein: I know we took that route at the time, because we recognized the efficiencies of operation and economies of sales to be achieved. Benefits overall are on a tri­ lateral basis. We have the CDD, Master Association and the resort. I said that we would bring in simultaneous procurement actions, allowing us to acquire Yellowstone across the Board. So, I guess my question, George, is you stated that the facility itself could not be partitioned, compartmentalized or whatever.
Mr. Flint. I haven't had an architect look at it. From a practical perspective, I'm  not sure it can be a shared facility. If the parties were to get together and figure it out, it's possible that they could.
Mr. Greenstein: We addressed the financial obligation aspect of it, but it does have a tangible impact from an operational standpoint. Correct me if I'm wrong, Board Members, but we were not moving to take action to change our landscape contract. Right? We will review it at the appropriate time, unless their performance changed. The same thing with the Lease Agreement. I think the ball, in my opinion, is in in the Master Association's court and the resort's court, to evaluate the situation. Then we can get together and discuss this, in the same tri-lateral fashion that we did originally, the practicalities of the situation, the real impacts of the situation to move forward.
Mr. d' Adesky: I think what you are saying, Supervisor Greenstein, is that mechanically,
the choice was made by the POA and the Club to do what they did, which was to switch vendors. The problem is if they want to utilize that space. That's their problem.
Mr. Chiste: I remember, in the total cost at that time, there was a savings from the maintenance company. It wasn't like the cost went up. It was to get similar type services. It was compatible with every other offer that we have out there. We broke it down between two components. We paid them separately for the housing of their offices and equipment,  but it was a total package.
Mr. Greenstein: That's true. I refer to economies of scale. It was the savings achieved by having the entities providing for a maintenance facility. That eliminates the cost on the vendor.
Mr. d' Adesky: John, I see what you are saying, and you are definitely right. When we presented that information, the economies of scale were part of it and displaying those costs over the entities. That would be cheaper than going out and doing it ad hoc, with each entity doing its own thing. George correct me ifl'm wrong, but once again, we talked about the lease component. That stays static because it's a separate obligation. I don't think as of this date, we received a
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demand from our current landscape provider to increase the rates because of this. So, I don't think any motion is necessary from the CDD side.
Mr. Chiste: I agree.
Mr. Flint: The other thing the Board needs to keep in mind is as a government entity, we can't just go out and enter into a contract with someone else. The bidding threshold on maintenance is $200,000.
Mr. d' Adesky: We clearly exceed the bidding threshold.
Mr. Flint: Yes, so we would have to go through a sealed bid process. There is no choice on that. that's only if the Board decided to do anything with their existing contract. There are no guarantees on who would be selected. You would have to bid it out and evaluate the responses.
Mr. Greenstein: Is there anything that anyone else would like to add? Personally, I don't see any action that the Board has to take. We discussed it and we will see where this takes us.

TENTH ORDER OF BUSINESS	Staff Reports
Attorney
Mr. Flint: Do you have anything else, Andrew?
Mr. d' Adesky: I just want to note what I have been up to. There was one particular parcel that I had to spend time on. It's landlocked by 429 that was purchased by an entity other than Encore or an Encore affiliate. They had to go through some documentation to ensure that they had access through CDD property. They didn't understand what a CDD was, so I had to explain to them that our roads are public. They are wedged up against 429, towards the tip at the end of the development.
Mr. Greenstein: So, you are talking about the annexed piece.
Mr. d'Adesky: No. This is actually outside of the boundary of the CDD. Mr. Greenstein: Is this the apartment complex?
Mr. d'Adesky: I don't think it's an apartment complex. This has enough space to build maybe two or three lots, maybe four lots maximum.
Mr. Flint: I think it's an acre and a half.
Mr. d'Adesky: It's a very small sliver that is outside the boundary of the CDD. We probably have to eventually enter into a cost share, once we figure out what they are building for use of our stormwater ponds and roads and all the appetences that feed in and service that project because it's outside of our boundary. However, they are  in the acquisition  phase. They  wanted
me to sign a letter and I had George do it, acknowledging  that our roads are public, and anyone
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can access them. We are not going to stop people from going over those roads and will do some general education for their attorney. I spent some time on that and I have some conveyances that I still need to clean up. I'm waiting on the title for those. That's all I've been working on.
Mr. Greenstein: So, it impacts Encore/Reunion West.
Mr. d' Adesky: It impacts Encore/Reunion West, but I bring it up because eventually there will be a cost share that the CDD will get for an offset of whatever is developed there. We need to know what the Development Plan is, how many lots are going in so George can come up with a methodology or some way of assessing them because they do need to pay.
Mr. Chiste: Mark, this property abuts 429 and it goes 60 feet into our project, but until our project starts, there's nothing they can put on this property because it's landlocked. Whatever is placed on there, will not affect our community, because it's so deep in the back of our property that we really don't care about.
Mr. d' Adesky: It's really not appropriate for commercial or any other use. Mr. Chiste: It looks like an island, depending on the shape of the property.
Mr. Flint: All we did was provide a letter saying that the roads are public, which they are.
We didn't commit to anything beyond that, which would require Board action.

Engineer
Mr. Guerricogoitia: Good afternoon, Board Members. I'm handing out copies of the Reunion Entry Improvement Plans, which address the improvements for the guardhouse on the west side, as well as some additional parking and sidewalk at the mail kiosk. These plans show the improvements. The first component of this is some additional pavement at the guardhouse at Tradition Boulevard for five parking spaces and adding some sidewalk at the existing mail kiosk. I'll be happy to answer any questions regarding the plans.
Mr. Greenstein: I performed a site visit through this area. I think Steve, at some point, gave us a general idea of where the widening would commence. I thought there was an existing cut through a driveway.
Mr. Guerricogoitia: In C-4, you will see the additional pavement. It shows you where the proposed improvement is being done.
Mr. Greenstein: That's the entrance on the west side.
Mr. Flint: Right. C-301 probably shows you the best layout of the parking spaces. Mr. d' Adesky: Is this just for informational purposes?
Mr. Flint: Xabier, you should advise the Board on what the next steps are.
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Mr. Guerricogoitia: The next step in the process, with the Board's approval, is to submit the plans to Osceola County to obtain a permit for the site work related to these improvements. There would be a nominal fee for the permit that needs to be paid to the county. Then it's up the Board on how they want to proceed.
Mr. Flint: I think once we received the permit, we would bid it. You don't want to bid it first and then have changes, so we want to get at least the County's assurance that they are comfortable with the way it's designed, and then we can solicit proposals to actually do the work. This is also going to be on the Reunion East CDD agenda. Does the Board have any questions?
Mr. Greenstein: Is there any specific action that the Board needs to take?
Mr. Flint: The action would be to authorize the District Engineer to submit to Osceola County for a permit and for staff to process the permit fees.

On MOTION by Mr. Greenstein seconded by Mr. Burman with all in favor authorization for the District Engineer to submit to Osceola County for permit for the guardhouse and mail kiosk and for staff to process the permit fees was approved.

Mr. d' Adesky: Is there anything else for Reunion West? Mr. Guerricogoitia: That's all I have to report.

District Manager's Report
Action Items List
Mr. Flint: Alan, do you have the status of the monuments?
Mr. Scheerer: Yes. Construction is complete on all monuments. I received an email from UCC Group stating that the granite is in; however, they want to resubmit shop drawings to Mr. Greenstein to ensure the shop drawings that are going to be used for the engraving on the granite are correct. There was a change to The Estates. It was changed to Eagle Estates. The main monument was changed from Reunion to Reunion Resort and Golf Club. We wanted to see those graphics before they go into production. We should have those later today. Once Mark signs off on them, we would look at them. Any changes obviously will cause a delay, but we don't think there will be any changes because the only two were for The Estates and the main entrance. All the rest were approved, but we will approve the shop drawings and they will be sent immediately for production. All of the monuments are up and they look great. Obviously, we will have some landscaping to spruce up the areas. We have been asked to wait until after the final inspection to
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move forward with any uplighting on the monuments. So that's on hold. Just so you know, we can do 120 volt lighting, but where we can't have lighting, there are some solar options that I'm working with a vendor on right now, where we can put a solar panel on the back of the monument that will provide enough light. We will see how that looks, because not all of these locations have power. So that's where we are.
Mr. Greenstein: That sounds good. We are just going to have final sign offby Kevin, Rich or someone. I noticed that they are doing some work on the sides by The Grand. I saw a slab of granite that actually has the resort and golf club's name on it, with palms on top, just like the Reunion sign. It seems like they are moving in this direction, so I'm sure that we will get concurrence. I want to make sure that we get that before we have any granite etched.
Mr. Burman: He's not sticking on letters?
Mr. Greenstein: No. This is the real thing. Fifteen years later, the east side monuments still look good. When they are pressured washed, they look fine. These look just like those.
Mr. Scheerer: It is exactly the same. They kept a really, good and clean job site. Mr. Greenstein: They have.
Mr. Scheerer: They have done a great job.
Mr. Flint: So, we have that and the mail kiosk parking and the Sinclair Road gate, which we discussed. Then we had the Fausnight proposal, which dealt with the four way stop at Tradition Boulevard and Golden Bear Drive.

Approval of Check Register
Mr. Flint: Does the Board have any questions? Hearing none,

On MOTION by Mr. Burman seconded by Ms. Musser with all in favor the September Check Register as presented was approved.

Balance Sheet and Income Statement
Mr. Flint: The Balance Sheet and Income Statement is through August 3ist_ Does the Board have any questions? Hearing none,

Status of Direct Bill Assessments
Mr. Flint: Fiscal Year 2019 is fully paid.

ELEVENTH ORDER OF BUSINESS	Other Business

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Mr. Flint: Is there any other business? Hearing none,

TWELFTH ORDER OF BUSINESS	Supervisor's Requests
Mr. Greenstein: The only thing I want to mention, and maybe you can give me some ideas as to how to proceed with this, but on the east side, we've done some beautification projects. We have taken an area off of Watson Court, which was a trail in the old days that was abandoned. Under Supervisor Hobbs leadership; whether you refer to it as a butterfly garden, it's a lovely little spot and does a lot to the community. Supervisor Goldstein is leading the charge on the east side to create a dog park/playground on property that belongs to Kingwood, for which we obtained an easement from them to use. With that spirit in mind, I drove around the west side with Alan. Is it still Grand Traverse Parkway at that point?
Mr. Scheerer: Yes. It's before you get to Valhalla Terrace.
Mr. Greenstein: But on the right-hand side of the road, as you swing around to the houses in the very, very back is the Heritage Preserve community, but there is a fairly significant triangulated parcel that right now has trees on it. So, we are looking at soliciting information and making requests from developers as to how they would like that parcel to be developed for a common community use; whether it's fir a playground or a dog park. Because we have never really done this, other than my going around or other people ground around and talking to community members, we can do something through the Artemis site.
Mr. Guerricogoitia: For sure because we have done surveys like that before. We need some ideas and should let them pick the options.
Mr. Flint: We did that with the stables.
Mr. Greenstein: I want to do this, so it's not done in a vacuum. I think our options are rather limited because we have so much residential property directly across the street from it or adjacent to it. You want it to blend in, yet right now, it's just a piece that looks nice, but doesn't really serve any purchase. It's a good size.
Mr. Scheerer: Is it just past Wynstone Way?
Mr. Guerricogoitia: Yes. Someone planted those trees. Mr. Scheerer: They have been there for a while.
Mr. Greenstein: That's true.
Mr. Scheerer: Those were the Palm trees that you removed.
Mr. Greenstein: Maybe from a Master Association standpoint, we could collaborate and get some movement on that.
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Mr. Burman: What do you think the liability of parking there is? You can't park there at all, right?
Mr. Greenstein: These would be areas people walk to. Mr. Scheerer: Or park their golf cart.
Mr. Greenstein: We can look at that too. It's really a nice location where you can put out a blanket and have a picnic. We could put tables in there. I don't think anyone really wants outdoor barbecue grills, but it should be something that beautifies the area with benches and paved walkways. We can consult with Supervisor Hobbs, based upon her experience on the east side and with Steve Goldstein. Would anyone object with us looking into trying to develop on CDD property? Hearing none, that sounds good. Thank you.
Mr. Flint: Is there anything else? Mr. Greenstein: That's it.

THIRTEENTH ORDER OF BUSINESS	Next Meeting Date
Mr. Flint: The next meeting date is November 14, 2019 at 12:30 p.m.

FOURTEENTH ORDER OF BUSINESS
There being no further business,

Adjournment

On MOTION by Mr. Greenstein seconded by Mr. Mancke with all in favor the meeting was adjourned.

Secretary/Assistant Secretary	Chairman/Vice Chairman

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(·

S EC-TIO	N	I V

RESOLUTION 2020-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF  THE  REUNION WEST COMMUNITY DEVELOPMENT DISTRICT APPROVING THE EXECUTION OF THE REUNION FAIRWAYS 17 & 18 PHASE 3 PLAT; APPROVING THE DEDICATIONS CONTAINED  IN SAID PLAT; APPROVAL OF PRIOR ACTIONS; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Reunion West Community Development District ("the District") is a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, for the purpose of providing, operating and maintaining infrastructure improvements, facilities  and services to the lands within the District; and

WHEREAS, Reunion West Development Partners, LLLP a Florida limited liability company (the "Developer") is the primary landowner and developer of certain  real  property within the District and in Osceola County, Florida, (hereinafter referred to as the "Reunion Fairways 17 & 18 Phase 3"); and

WHEREAS, District is anticipated to possess certain rights and obligations related to certain parcels dedicated to the District within the Reunion Fairways 17 & 18 Phase 3 (the "District Property") located in Osceola County, Florida; and

WHEREAS, the recordation of a plat of the Reunion Fairways 17 & 18 Phase 3 (the "Reunion Fairways 17 & 18 Phase 3 Plat"), attached hereto and incorporated herein by this reference as EXHIBIT "A" requires the District to consent to the dedications contained within said Plat; and

WHEREAS, the District desires to approve the dedications in the Reunion Fairways 17  & 18 Phase 3 Plat, delegate authority to the Chairman or Vice Chairman to execute the plat dedication, authorize District Staff to perform any action deemed necessary to carry out this Resolution regarding the Reunion Fairways 17 & 18 Phase 3 Plat.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD  OF SUPERVISORS OF THE REUNION WEST COMMUNITY DEVELOPMENT DISTRICT:

SECTION  1.	INCORPORATION   OF   RECITALS  AND  AUTHORITY.	The
recitals stated above are true and correct and by this reference are incorporated by reference as a material part of this Resolution. The Resolution is adopted pursuant to the provisions of Florida Law, including Chapter 170, 190 and 197, Florida Statutes.

SECTION 2. APPROVAL OF THE DEDICATIONS CONTAINED IN THE PROPOSED REUNION FAIRWAYS 17 & 18 PHASE 3 PLAT. The District hereby
approves the dedications contained in the Reunion Fairways 17 & 18 Phase 3 Plat.

Reunion West COD
Resolution 2020-0 I Approving Reunion Fairways 17 & 18 Phase 3 Plat

SECTION  3.	DELEGATION OF AUTHORITY AND AUTHORIZATION OF
STAFF. The Chairman and the Vice Chairman of the District are  hereby  authorized  to execution the plat dedication and any other agreements, approval or documents  necessary  to  carry out the intent of this resolution. District Staff, including, but not limited  to,  District Counsel, the District Engineer and District Manager, are hereby authorized to execute any and all documents necessary to effectuate this Resolution, and to perform all other actions necessary to carry out the intent of this Resolution, as contemplated herein.

SECTION 4. APPROVAL OF PRIOR ACTIONS. All actions taken to date by members of the District Board of Supervisors and staff of the District in furtherance of the District's approval of the Reunion Fairways 17 & 18 Phase 3 Plat, as contemplated herein, are hereby approved, confirmed and ratified.

SECTION 5. SEVERABILITY. The invalidity or unenforceability of  any one  or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

SECTION 6. EFFECTIVE DATE. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board of Supervisors of the Reunion West Community Development District.

PASSED AND ADOPTED this 12th day of December, 2020.

ATTEST:		REUNION WEST COMMUNITY DEVELOPMENT DISTRICT

By:_	_

_	_	_	_	_	_

_	_	_	_

Secretary/ Assistant Secretary	Title: Chairman/Vice Chairman

Reunion West CDD
Resolution 2020-01 Approving Reunion Fairways 17 & 18 Phase 3 Plat

EXHIBIT "A"

Reunion Fairways 17 & 18 Phase 3 Plat

[SEE ATTACHED]

Reunion West CDD
Resolution 2020-01 Approving Reunion Fairways 17 & 18 Phase 3 Plat

_..... .......·-·-···"--"•'--·---·

"REUNION FA/RIYAYS 17 & 18 PHASE 3"
BEIJIG A P.EPLAT o,fRM:TS &-I	sr-z. RlUNION JES!' 1JIWATS 11 AND 18, A IW'LAT, PER PLAT BIJOK 25, PACES 'll-76, OJ' rer RIBUC Rlr:l]RIJS 01 IISt:l()l,J aJUNTY. 1/,0R//U
A PORTION OF srcnoN 27 - TOWNSHIP 25 SOUTH - RANG£
27 "'51, OSCEOLA COUlfrY, FtORIDA

PLAT
BOOK	PAGE

SHEET 2 OF 3

...........

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U,.IR..II.O.U.'.S,1 7  41  18
/1'82" PC 11-15

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OR  BOOK  5594, PAGE 962	l	1
!2:,M.f.!:.a!Jlill! I5:    = "·	DETAll.  9A•

"REUNION Ji'A/RffAYS 17 & 18 PHASE 3"
BEINC A REPLAT OF T/!ACTS ll'C-1 t SF-2, REIINION JEST FA/NKAYS 17 ANO 18, A RIPLAT, PlR PLAT BOOK 25, PAGES 71-75, OF THE IUllJJC 1/lWIIJJY OF IISCIOU COIINT'Y, F/JJRIDJ
A PORTION Of S£CTION 27 - TOWNSHIP 25 SOUTH - RANG£
27 EAST, OSCEOLA COUNTY, FLORIDA

1 -- 1 --- 1- 1- - 1 = 
O"	,uir 11.<U' 5111'45"01'1:

5

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T	T

PLAT
BOOK	PAGE
SHEET J OF J

	
			
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·-·-·--·

OR BOOK 5594, PAGE 962

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PARKING EASEMENT OVER TRACT OS-1
OR 5114, PAGE 79

DETAIL "8" & DRAINAGE EASEMENT
OR SOOK 5594, PAGE 962

EASEMENT DETAIL SHEET

--·---:-::

SECTION VI

Katrina S. Scarborough, CFA, CCF, MCF Osceola County Prop rty Appraiser
www.prope rty-appra1ser.org
Osceola County Government Center
2505 East lrlo Bronson Memorial Hwy, Kissimmee, FL 34744 Ph: (407) 742-5000 Fax:( 407) 742-4900

Parcel: 35-25-27-4893-0001-0R10

Owner Information

Owner Name

rMaiiing Address

Physical Address
o[   escrfpjfon
Tax District

REUNION WEST CDD

135 W CENTRAL BLVD STE 320
ORLANDO, FL 32801 KISSIMMEE FL 34747
RESIDENTIAL COMMON ELEMENTS/AREAVAC 300 - OSCEOLA COUNTY	-- - - - -

Tax Values
Currenl ValLtes	Certified Values
Current Value represents working appraised values as of	Certified Value represents certified values that appeared on

12/0 019, which are subject to _<:_hange	prior to certification
!!,    fld_	-

-t-he t·a- x roll as of 10/02/2019
_Land

- .
j_g_

AG Benefit	$0
iExtraFeatures	$0
eu11ciiri!si _--	fa
[Appr a_l_	(I!!  !)	_$,_g_	  
ssess    _( f:!sti!!'lat    L	2_
lE xemptlM(estimated}	$2
Taxable(estimated)	$0
* Assessed Values Reflect Adjustments for Agricultural Classification and/or the Save Our Homes Cap

AG Benefit	$0
Extra Features	jo
Buildil'lgs _  _	$0
ppr_aJse  c,_l(j  _l! t)_	$2
Asses   •	!- ?
Exemp 1ion	}2 
Taxable	$0
* Assessed Values Reflect Adjustments for Agricultural Classification and/or the Save Our Homes Cap

Page 1 - 12/3/2019 9:58:33 AM

Land Information - Total Acreage: 0.85
Land Descri lion	Units	De  th	Land T  pe	Land Value
RURAL ACREAGE	0.85	0.00	AC	$8,500

Le al Descri tion
Legal Description	REUNION WEST VILLAGE 38 PB 16 PGS 180-182 TRACT R-1 RECREATION AREA

Page 2 -12/3/2019 9:58:33 AM

-=- -.- --	····-:-::-----·

SECTION V- II

Sunscaoe  Consulting	
LAIIDSCAPE MAH4vtMEl'H StRVlCES

Decembers, 2019

George Flint District Manager
Reunion East and West coo
c/o Governmental Management Services 135 West Central Blvd., Suite 320
Orlando, FL 32801

Re:	Landscape Management Services for Reunlon East and West CDD

Dear George,
Thank you for the opportunity to provide the Board of Directors with a propos<!I for the .contin uatio n of our services for the Re.uni on East and West COD. Our goal in the spring of 2016 was to work alongside GMS to help stab ili z.e and enhance the landscape assets of the COD by increasing the frequency of care and improving both the trimming/ pruning techniques and agronomic applications. Also, it was our intention to help specify and plan landscape enhancement projects for Reunion Blvd., Linear Park and all pool areas along with creating a comprehensive arbor care program for all hardwood trees and to  clean up, simplify and improve the CR532 median islands and ROW's all of which have been completed and maintained in good health. We very much appreciate the trust that has been placed in us and the  opportunity  to  work with the BOD and GMS over the past 3½ years. We would like to respectfully request that our agreement be renewed at the same amount for an additional two years so that we can continue our work to further enhance and protect the grounds.and landscaping owned and cared for by the COD.

Scope of Seryices:

SunScape will perform for Client's benefit the following Services, in association with the Landscape Management Services Agreement.

Maintain a consistent landscape maintenance program, including a current scope of work and all related.contract documents.

Management ofbjd solicitation for the landscape maintenance contract; not to exceed one occurrence evl;!ry two years.

Provide input for the landscape program budget based on the specific needs of the Client.

Assist in the selection of annuals and/or perennials for flower beds and containers, as applicable on each property.

Oversight of arbor care needs, including the identification of maintenance., control and care of hardwood trees on the property under $5,000 in value.

Oversightofmajor storm related cleanup of the landscape including hardwood trees under $5,000
in value.

Management and identification of issues and ongoing care needs for conservation boundaries and stonn damage repairs.

1746 Greystone Court • Longwood, Florida 32779 • 407°804·2525

Layout, pricing and supervision of incidental landscape enhancements under $5,000.00 in value.

Management ofirrigation system operation and associated requests for adjU$tme nt, service repafrs under $5,000.00 in value.

Assist in the investigation and resolution of Client's requests, inquiries and complaints regarding the landscape maintenance program, contractors or other issues related to the property.

Oversight of contractor's lawn and ornamental program to ensure proper nutritional levels and the timely control of plant and turf damaging insects and disease.

Perform monthly landscape inspections with a mid..:month review monitoring contractor compliance with the landscape agreement specifications followed by a fonnal report.

Monitoring hardscape elements throughout the property, reporting to Client any discovered problems, and managing any associated Client requests to repair and replace problematic hardscape elements under $5,000.00 in value.

Management of arbor care work, major storm related cleanup, landscape enhancements, large irrigation system repairs or hardscape projects over $5,000.00in value can be managed under a separate agreement for a project management fee of 8.5% of total project amount.

We propose to perform these services for the following amounts:

Total:	$3,250.00 per month	$39,000.00 annually

,1/A

Sincerely,	_

Mar §v, hn
Presiden

,/J'-

SunScape Consulting
Office: - 407 804-2525
Fax: -407-804-1155
Cell: - 407-948•5839
Email: -  myahn@SunScapeConsultin.cgom

S ECTION V-III

S	ECTl·ON·C

S	ECTION 1

Reunion East

Item#	Meeting Assi!:med	
Action Item	
Assi<:1ned	To:	
Date Due	
Status	
Comments	

1	
3/14/11	
Irrigation Turnover	
Developer		
On Hold	Issue on Hold Pending CUP Negotiation	

2	

3/16/17	

Allocation of 532 Costs	

Scheerer/d'Adesky		

On Hold	Proposals from Yellowstone presented at August meeting. Counsel Sent Demand Letters for Costs to Each Parcel Owner. Publix
Declined Sharinq Costs.	

3	
4/11/19	Review of 4-Way Stop at Spine Road & Tradition Blvd.	
Boyd		
In Process	Signs and Striping lnstallationg to Beqin on December 16, 2019	

4	

4/11/19	Corolla Court Parking Issue;
Evaluation of Addition of Street Parking Towaway Zones	
Williams/Cruz/ Scheerer		

In Process	
Rule Hearing Set for December 19, 2019 at 7 PM	

5	

4/11/19	
Patriot's Landing Small Retention Pond Cleanup	

Boyd		

In Process	Alan S. Met with Contractor December 5, 2019. Anticipated to
Start week of December 9, 2019.	

6	

4/11/19	

Creating Dog Parks/Playground	

Goldstein		

In Process	EasementsNendor Contracts Executed. Permitting and Locates in
Process.	

7	
5/9/19	
Crosswalk in Front of Resort	
Boyd		
In Process	Signs and Striping lnstallationg to Begin on December 16, 2019	

Reunion West

Item#	Meeting Assigned	
Action Item	
Assigned To:	
Date Due	
Status	
Comments	

1	
1/11/18	Installation of Neighborhood Monuments	
Scheerer		
Complete	Monuments Completed and County Signed Off.	

2	
2/21/19	Cost to Install Parking Spaces at Valhalla Mail Kiosk Area	
Boyd		
In Process	
Currently in Permitting	

revised 12/5/2019

Item#	Meeting Assigned	
Action Item	
Assigned To:	
Date Due	
Status	
Comments	

3	
2/21/19	Evaluate Traffic Lanes for Sinclair Road Gate	
Boyd/Scheerer		
In Process	
Currently in Permitting	

4	
4/11/19	Review of 4-Way Stop at Tradition Blvd. & Golden Bear	
Boyd		
In Process	Signs and Striping lnstallationg to Begin on December 16, 2019	

revised 12/512019

.  .
S ECTION 2	·

Reunion West
Community Development District
Summary of  Check Register

November 1, 2019 to November 30, 2019

	Fund	Date	Check No .'s	Amount	
	Gener al Fund	11/4/19	1497	$	251.68	
		11/13/19	1498-1511	$	241,135.93	
		11/18/19	1512-1513	$	3,076.23	
		11/25/19	1514-1515	$	1,367.69	
				$	245,831.53	

I

$	24s,s31.s3 I

CHECK  VEND#  •••••INVOICE..•.. •..EXPENSED TO...	VENDOR NAME	STATUS	AMOUNT	••••CHECK•.••• DATE	DATE	INVOICE	YRMO  DPT ACCT# SUB SUBCLASS				AMOUNT	#
11/04/19 00051	10/31/19 2459	201910 310-51300-31100	*	251.68
COD MTG/X.GUER SHRD MILE

- - - - - - - - - - - - - - - - - - - - - - - - - -

BOYD CIVIL ENGINEERING

-  - -  -  -  - -  -	-  -  -  - - -  - -  -  -  -  -2-51.-6-8 001497

11/13/19 00031  11/12/19 11122019 201911 300-20700-10000	*	9,463.39
FY19 DEBT SERV SER2004-1
-  - - - -  -  -  -  - -  - - -  -  - - -  -  - - - -  -  -  -  - -RE-UN-IO-N-WE-S-T C/0 U-SB-AN-K 	9,-46-3.-39-
11/13/19 00031	11/12/19 11122019 201911 300-20700-10000	*	7,385.12
FY20 DEBT SERV SER2004-1

001498

-  - - - -  -  -  - - -  -  - - -  -  -  -  -  -  -  - - -  -  -  - -RE-UN-IO-N-WE-S-T C/0 U-SB-A-NK-  - - - -  -  - -		-  -  -  - - -  -  -  -  - -7,-3-85.-1-2 001499 11/13/19 00031	11/12/19 11122019 201911 300-20700-10400	*		2,322.23
FY19 DEBT SERV SER2015

-  -  -  -  -  -  - - - -  -  - -  -  -  - -  -  -  -  - -  -  -  - - -RE-U-NIO-N-W-ES-T C/0 -USB-AN-K 	2,-32-2.-23-
11/13/19 00031	11/12/19 11122019 201911 300-20700-10400	*	1,812.24
FY20 DEBT SERV SER2015

001500

- - -  -  -  -  -  -  -  -  - - -  -  - - -  -  -  -  - - - -  -  -  -RE-UN-IO-N-W-ES-T C-/0-

U-SB-AN-K 	1-,8-12.-24- 001501

11/13/19 00031	11/12/19 11122019 201911 300-20700-10500	*	3,822.30
FY19 DEBT SERV SER2016
-  -  -  -  -  -  - -  -  -  -  -  - -  -  -  -  -  -  -  - -  -  - -  -  -RE-UN-IO-N-WE-S-T C/0 U-SB-AN-K 	3,-82-2-.30-
11/13/19 00031  11/12/19 11122019 201911 300-20700-10500	*	2,982.88

REUNION WEST C/0 USBANK	2,982.88 001503

FY20 DEBT SERV SER2016

001502

-  -  -  -  - - -  - -  - - -  -  -  - - - -   -  - - -  -  -  -  - - - - - - - -	- - -  - - - - -  -   - -	- - - - - - - - - - - - - - -
11/13/19 00031  11/12/19 11122019 201911 300-20700-10600	*	3,605.95
FY19 DEBT SERV SER2017
-  -  -  -  - - - -  -  -  -  -  -  -  -  -  -  - - -  - -  -  -  - -  -RE-UN-IO-N-WE-ST- Clo U-SB-AN-K-  -  - -  -  -  -  -		-  -  - - -  -  -  -  -  - -3,-6-05-.9-5 001504 11/13/19 00031	11/12/19 11122019 201911 300-20700-10600	*		2,814.04
FY20 DEBT SERV SER2017

-  -  -  -  -  -  -  -  -  -  -  - - -  -  -  -  - - - - -  -  -  - - -RE-UN-IO-N-WE-S-T C/0 -US-BAN-K 	2,-81-4.-04-
11/13/19 00031	11/12/19 11122019 201911 300-20700-10700	*	236.38
FY20 DEBT SERV SER2019

001505

-  -  -  -  -  - - - - -  -  -  -  -  - -  -  -  - - - -  -  -  -  - -RE-UN-IO-N-WE-S-T C/0 U-SB-AN-K- -  -  -  -  -  -  -		-  -  - - - -  -  -  -  -  -  -2-36.-3-8 001506 11/13/19 00031	11/12/19 11122019 201911 300-20700-10700	*		196,406.00
FY20 RW DEV PARTNER 2019

- - - - - - - - - - - - - - - - - - - - - - - - - -

REUNIO-N-W-ES-T C/0 -USB-A-NK-  -  -

- - - - -	-

- - - - - - -

- -196,40-6.-00- 001507

- -

11/13/19 00035 10/31/19 181048	201910 300-13100-10100	*	73.92
AQUATIC PLANT MGMT OCT19
REUW REUNION WEST	TVISCARRA

CHECK  VEND# .•••.INVOICE••••.••.EXPENSED TO...	VENDOR NAME DATE	DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS
10/31/19 181048	201910 320-53800-47000
AQUATIC PLANT MGMT OCT19

STATUS

*

AMOUNT	••..CHECK•..••
AMOUNT	#
58.08

APPLIED AQUATIC MANAGEMENT, INC.
11/13/19 00012	11/06/19 18839	201910 310-51300-31400
ARBITRAGE SER2015 4/30/19 11/11/19 18855	201909 310-51300-31400
ARBITRAGE SER2004 7/31/19

-  -  -  -  -  - -  - - -  -  -1-32-.0-0 001508
*	600.00
*	600.00

11/13/19 00036

TOHO METER#62644093 AUG19 TOHO METER#62644093 SEP19 DUKE ENERGY #12715 05144
DUKE ENERGY #31537 19104

GRAU & ASSOCIATES

10/10/19	TOHO-TOH 201908 320-53800-43100	*	
10/10/19	TOHO-TOH 201909 320-53800-43100	*	
10/31/19	DUKE-DUK 201909 320-53800-43000	*	
10/31/19	DUKE-DUK 201909 320-53800-43000	*	

REUNION RESORT

-  -  -  - -  -  - -  -  -  -1-,2-00.-00- 345.70
261.99
249.29
685.80
-  -  -  -  -  - -  -  - -  -1-,5-42.-78-

001509

001510

11/13/19 00020 11/01/19 456	201911 310-51300-34000
MANAGEMENT FEES NOV19
11/01/19 456	201911 310-51300-35100
INFORMATION TECH NOV19 11/01/19 456	201911 310-51300-31300
DISSEMINATION FEES NOV19 11/01/19 456	201911 310-51300-51000
OFFICE SUPPLIES NOV19
11/01/19 456	201911 310-51300-42000
POSTAGE NOV19
11/01/19 456	201911 310-51300-42500
COPIES NOV19
11/01/19 456	201911 310-51300-41000
TELEPHONE NOV19
11/01/19 457	201911 320-53800-12000
FIELD MANAGEMENT NOV19

*	3,689.50
*	183.33
*	833.33
*	15.87
*	16.07
*	49.65
*	13.54
*	2,609.33

GOVERNMENTAL MANAGEMENT SERVICES
11/18/19 00011 11/12/19 6-835-39 201911 310-51300-42000
DELIVERY 11/15/19

- - - - - - - - - -
*	26.23

7,410.62 001511

FEDEX
11/18/19 00014	10/31/19 10312019 201910 310-51300-49100
PERMIT FEE-TRADITION BLVD

- - - - - - - - - -
*	3,050.00

26.23 001512

OSCEOLA COUNTY BOARD OF COUNTY COMM	3,050.00 001513

REUW REUNION WEST	TVISCARRA

CHECK  VEND# .....INVOICE........EXPENSED TO...	VENDOR NAME DATE	DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS
11/25/19 00011	11/19/19 6-841-88 201911 310-51300-42000
DELIVERY 11/09-11/12/19

STATUS	AMOUNT	....CHECK...•.
AMOUNT	#
*	61.74

FEDEX
11/25/19 00043	11/21/19 88479	201910 310-51300-31500
CDD MTG/PLAT RESOLVE/AGMT

*	1,305.95

61.74 001514

LATHAM,LUNA,EDEN &  BEAUDINE,LLP	1,305.95 001515

TOTAL FOR BANK A TOTAL FOR REGISTER

245,831.53
245,831.53

REUW REUNION WEST	TVISCARRA

S ECTION 3

••••••••

•	•	•	•	•	•	•	•	•	•	•	•

Reunion West
Community Development District

Unaudited Financial Reporting

October 31, 2019

•	•	•	•	•	•	•	•	•	•	•	•	•	•	•

Table of Contents

 	Balance Sheet 

General FundIncome Statement

 	Replacement & Maintenance Income Statement 

 	Debt Service Series 2004-1Income Statement 

 	Debt Service Series 2015 lncome Statement 

 	Debt Service Series 20161ncome Statement 

Debt Service Series 2017 Income Statement

Debt Service Series 2019 Income Statement

Capital Projects Series 2015 Income Statement

 	Capital Projects Series 2016 Income Statement 

 	capital Projects Series 2017 Income Statement 

Capital ProjectsSeries 2019 Income Statement

13-14 	Month to Month

15	 	FY20 Assessment Receipt Schedule 

COMMUNITY DEVELOPMENT DISTRICT COMBINED BALANCE SHEET
October 31, 2019

Replacement	Debt	Capital	(Memorandum Only)
 	General	& Maintenance	 SeNice	Projects	2020	

CASH	$736,154	$75,621			$811,77S	
CUSTODY ACCOUNT	$2,870				$2,870	
STATE BOARD OF ADMINISTRATION		$1,079,248			$1,079,248	
DUE FROM GENERAL FUND			$215,620		$215,620	
DUE FROM REUNION EAST	$19,500	$86,643			$106,144	
INVESTMENTS						
SERIES 2004-1						
Reserve			$669,007		$669,007	
Revenue			$647,359		$647,359	
General Redemption			$391		$391	
SERIES 2015						
Reserve			$165,297		$165,297	
Revenue			$155,313		$155,313	
Construction				$5	$5	
SERIES 2016						
Reserve			$270,674		$270,674	
Revenue			$383,758		$383,758	
Prepayment			$2,953		$2,953	
Construction				$67	$67	
SERIES 2017						
Reserve			$2S7,090		$257,090	
Revenue			$347,887		$347,887	
Prepayment			$1,999		$1,999	
Construction				$607	$607	
SERIES 2019						
Reserve			$328,S47		$328,S47	
Revenue					$0	
Interest			$291,905		$291,905	
Construction				$2,166,006	$2,166,006	
Cost of Issuance				$101	$101	

TOTAL ASSETS	$758,525	$1,241,513	$3,737,801	$2,166,78S	$7,904,623

LIABILITIES:
ACCOUNTS PAYABLE	
$7,982				
$7,982	
DUE TO REUNION EAST	$129,029	$50,669			$179,698	
DUE TO DEVELOPER	$2,883				$2,883	
DUE TO DEBT SERVICE 2004-1	$9,463				$9,463	
DUE TO DEBT SERVICE 2015	$2,322				$2,322	
DUE TO DEBT SERVICE 2016	$3,822				$3,822	
DUE TO DEBT SERVICE 2017	$3,606				$3,606	
DUE TO DEBT SERVICE 2019	$196,406				$196,406	
FUND EQUITY; FUND BALANCES:
ASSIGNED		

$1,190,844			

$1,190,844	
UNASSIGNED	$403,010				$403,010	
RESTRICTED FOR DEBT 2004-1			$1,326,220		$1,326,220	
RESTRICTED FOR DEBT 2015			$322,933		$322,933	
RESTRICTED FOR DEBT 2016			$661,207		$661,207	
RESTRICTED FOR DEBT 2017			$610,582		$610,582	
RESTRICTED FOR DEBT 2019			$816,858		$816,858	
RESTRICTED FOR CAP. PROJ. 2015				$5	$5	
RESTRICTED FOR CAP. PROJ. 2016				$67	$67	
RESTRICTED FOR CAP. PROJ. 2017				$607	$607	
RESTRICTED FDR CAP. PROJ. 2019				$2,166,107	$2,166,107	
TOTAL LIABILITIES & FUND EQUITY						
& OTHER CREDITS	$758,525	$1,241,513	$3,737,801	$2,166,785	$7,904,623	

COMMUNITY  DEVELOPMENT DISTRICT

General Fund
Statement of Revenues & Expenditures
For The  riod Ending October 31, 2019
ADOPTED	PRORATED BUDGET	ACTU AL
 	BUDGET	THRU 10/31/19	THRU 10/31/19	VARIANCE	
lilWilllli

Special Assessments - Tax Collector	$1,093,855		$0		$0	$0 Spedal A.ssessments - Direct		$203,476	$66,960	$66,960	$0 lnt,rest			$0		$0		$0	$0
TOTAL REVENUES	$1,297,331	$66,960	$66,960	so I
EXPENOJTURES·

ADMINISTRATIVE:

Supervisor Fees	$1, 2 000	$1,000	$800	$200
FICA	$918	$77	$61	$15
Enai:t\eering	$8,000	$667	$252	$415
Attorney	$20,000	$1,667	$1,306	$361
Tf\Jstee Fee	$21,000	$1,750	$0	$1,750
Dissemination	$10,000	$833	$833	$0
Arbitrage	$2,400	$0	$0	$0
Collection Agent	$7,500	$7,500	$7,500	$0
Property Appraiser Fu	$500	$42	$0	$42
Annual Audit	$5,200	$433	$1,000	(5567)
Management Fel!!:s	544,274	$3,690	$3,690	$0
Information TM.hnology	$3,400	$283	$183	$100
Tele hone	$300	$25	$7	$19
Post,ge	$1,200	$100	$141	($41)
Prtntk1g& Blndina	$1,600	$133	$36	$97
Insurance	$9,400	$9,400	$8,754	$646
Legal Ao'vertisins	$1,500	$125	$0	$125
Other CUrrent Chafies	S350	$29	$3,050	($3,021)
Offic:eSupplM	S300	$25	$16	$9
Travel Per Diem	$600	sso	$0	$50
Dues, Un nses & Subsatptions	$175	$175	$175	$0
TOTAL ADMINISTRATIVE	$150,617	$28,004	$27,803	s200 I
M,&Jl!.rf.fi.ArJ. tJ.ABf.Q. [XPENSES:
Fiekl Management	$31,312	$2,609	$2,609	($0)
Facility Lease Agreement	$17,980	$1,498	$1,498	$0
Telephone	$3,740	$312	$320	(SB)
Electric	$268,400	$22,367	S22,104	S262
Water& Sewer	S35,200	$2,933	$2,244	S690
Gas	$33,880	$2,823	$412	$2,411
Poot and Fountain M aintenance	S79,200	S6,600	$6,163	$437
EnviroMlental	$4,400	$367	$115	$252
Property Insu rance	$20,130	$20,130	S18,899	$1,231
lmgallon Repairs	$6,600	$550	$907	($357)
Landscape ContraC1	$341,568	$28,464	$23,844	$4,620
Landscape Contingency	$22,000	$1,833	$2,868	($1.0351
Landscape Consuldng	$17,160	Sl,430	$1,430	$0
Gate and Gatehouse Expenses	$14,080	$1,173	$217	S956
Roadways/Sidewalks	$22,000	Sl,833	S301	$1,532
U1hd11t1	$4,400	$367	$0	$367
MSA Buiocling Repairs	$11,000	$917	$221	$695
Prenu Washlng	$15,400	$1,283	S154	$1,129
Maintenance {Inspections)	$770	S64	S68	(S4!
Repairs & M alntenance	S8.BOO	$733	S334	$399
Pest Control	$319	S27	$0	$27
Signage	$3,520	$293	S1,875	($1,582)
Security	$61,600	$5,133	SS,133	$0

MAINTENANa-QJ.B.EIT,(!fftaU•
ln1gatlon Sysb!m Operations		$20,000	$1,667	$0	$1,667 Contingency			$0		$0	$0		$0 Transfe r Out• R&M Fund	$103,255	$8,605	$0	$8,605

TOTAL MAINTENANCE	$1,146,714	$114,012	$91,718	$22,2941
TOTAL EXPENDITURES	$1,297,331	$142,015	$119,521	$22,494 1

EXCESS REVENUES (EXPENOlT\JRES)	$0	($52,561)

FUND BALANCE· BaglMtng	 	so	$455,571	

FUND BALANCE- Endinc	so	$403,010

2

Replacement & Maintemmc:e Fund
Statement of Revenues & Expenditures
For The Period Ending October 31, 2019

	ADOPTED BUDGET	PRORATED THRU 10/31/19	ACTUAL THRU 10/31/19	

VARIANCE	
REVENUES:					

Transfer In-General Fund	
$103,255	
$0	
$0	
$0	
Interest	$10,000	$833	$2,031	$1,197	

TOTAL REVENUES	
$113,255	
$833	
$2,031	$1,197 I	

EXPENDITURES:					

Building Improvements	
$92,400	
$7,700	
$0	
$7,700	
Fountain Improvements	$11,000	$917	$0	$917	
Gate/Gatehouse Improvements	$4,400	$367	$0	$367	
Landscape Improvements	$110,000	$9,167	$0	$9,167	
Lighting Improvements	$3,520	$293	$0	$293	
Monument lmpovements	$11,000	$917	$0	$917	
Pool Fumiture	$6,600	$550	$6,222	{$5,672)	
Pool Repair& Replacements	$37,400	$3,117	$0	$3,117	
Roadways/Sidewalks Improvements	$6,820	$568	$0	$568	
5ignage	$22,000	$1,833	$0	$1,833	
Contingency	$0	$0	$264	($264)	
TOTAL EX PENDITURES	$305,140	$25,428	$6,486	$18,943	
					
EXCESS REVENUES (EXPENDITURES)	($191,885)		($4,455)		
					
FUND BALANCE - Beginning	$1,138,890		$1,195,299		
					
FUND BALANCE - Ending	$947,005		$1,190,844		

3

Debt Service Fund
Series 2004-1
Statement of Revenues & Expenditures
For The Period Ending October 31, 2019

	ADOPTED BUDGET	PRORATED THRU 10/31/19		ACTUAL THRU 10/31/19	
VARIANCE	
REVENUES:							
Special Assessments - Tax Collector		$1,336,719		$0	$0	$0	
Interest		$500		$42	$1,959	$1,917	
TOTAL REVENUES		$1,337,219		$42	$1,959	s1,917 1	

EXPENDITURES:							
Interest Expense 11/01		$436,563		$0	$0	$0	
Principal Expense 05/01		$475,000		$0	$0	$0	
Interest Expense 05/01		$436,563		$0	$0	$0	

TOTAL EXPENDITURES		
$1,348,125		
$0	
$0	so I	
							
EXCESS REVENUES (EXPENDITURES)		($10,906)			$1,959		
							
FUND BALANCE - Beginning		$643,623			$1,324,262		
							
FUND BALANCE -Ending		$632,717			$1,326,220		

4

	ADOPTED
BUDGET	PRORATED
THRU 10/31/19		ACTUAL
THRU 10/31/19	
VARIANCE	
REVENUES:						

Special Assessments Tax Collector	
$326,875		
$0	
$0	
$0	
Interest	$100		$8	$449	$441	

TOTAL REVENUES	 	$326,975	$8	$449		$441 1

EXPENDITURES:		
Interest Expense 11/01	$89,644	$0	$0	$0	
Principal Expense 05/01	$150,000	$0	$0	$0	
Interest Expense 05/01	$89,644	$0	$0	$0	
TOTAL EXPENDITURES	 	$329,288	$0	$0		so I

EXCESS REVENUES (EXPENDITURES)		($2,313)	$449	
				
FUND BALANCE· Beginning		$155,168	$322,484	
				
FUND BALANCE· Ending		$152,856	$322,933	

5

	ADOPTED
BUDGET	PRORATED
THRU 10/31/19		ACTUAL
THRU 10/31/19	
VARIANCE	
REVENUES:							
Special Assessments -Tax Collector		$549,750		$0	$0	$0	
Interest		$0		$0	$921	$921	
TOTAL REVENUES		$549,750		$0	$921	$921 1	

EXPENDITURES:							
Interest Expense 11/01		$193,953		$0	$0	$0	
Principal Expense 11/01		$145,000		$0	$0	$0	
Interest Expense 05/01		$191,325		$0	$0	$0	

TOTAL EXPENDITURES		
$530,278		
$0	
$0	so I	
							
EXCESS REVENUES {EXPENDITURES)		$19,472			$921		
							
FUND BALANCE - Beginning		$383,954			$660,286		
							
FUND BALANCE· Ending		$403,426			$661,207		

6

	ADOPTED
BUDGET	PRORATED
THRU 10/31/19		ACTUAL
THRU 10/31/19	
VARIANCE	
REVENUES:						

Special Assessments -Tax Collector	$509,250		$0	$0	$0	
Interest	$0		$0	$850	$850	

TOTAL REVENUES

 	$509,250	$0	$850		$8so I

EX PENDITURES:		
Interest Expense 11/01		$182,900	$0	$0	$0	
Principal Expense 11/01		$140,000	$0	$0	$0	
Interest Expense 05/01		$180,450	$0	$0	$0	

•

TOTAL EXPENDITURES	 	$503,350	$0	$0		so I

EXCESS REVENUES (EXPENDITURES)		$5,900	$850	
				
FUND BALANCE - Beginning		$350,127	$609,732	
				
FUND BALANCE· Ending		$356,027	$610,582	

7

Reunion West
COMMUNITY DEVELOPMENT DISTRICT

Debt Service Fund
Series 2019
Statement of Revenues  & Expenditures
For The Period Ending October 31, 2019

	ADOPTED BUDGET	PRORATED THRU 10/31/19	ACTUAL THRU 10/31/19	

VARIANCE	
REVENUES:						

Special Assessments - Tax Collector		
$42,500	$0	
$0	
$0	
Special Assessments - Direct Billed		$392,813	$196,406	$196,406	$0	
Interest		$0	$0	$869	$869	

TOTAL REVENUES	 	$435,313	$196,406	$197,275		$869 j

EXPENDITURES:		
Interest Expense 11/01	$132,329	$0	$0	$0	
Interest Expense 05/01	$157,744	$0	$0	$0	
TOTAL EXPENDITURES	 	$290,073	$0	$0		so I

EXCESS REVENUES (EXPENDITURES)		$145,240	$197,275	
				
FUND BALANCE - Beginning		$291,755	$619,583	
				
FUND BALANCE· Ending		$436,995	$816,858	

8

ADOPTED	PRORATED	ACTUAL
BUDGET	THRU 10/31/19	THRU 10/31/19	VARIANCE

REVENUES:

Int erest	$0	$0	$0	$0

'

TOTAL REVENUES	 	$0	$0	$0		so!
EXPENDITURES:

Capital Out lay	$0	$0	$0	$0
TOTAL EXPENDITURES	I 	$0	$0	$0		so!

EXCESS REVENUES (EXPENDITURES)		$0	$0		
					
FUND BALANCE · Beginning		$0	$5		
					
FUND BALANCE· Ending		$0	$5		

9

ADOPTED	PRORATED	ACTUAL
BUDGET	THRU 10/31/19	THRU 10/31/19	VARIANCE

REVENUES:

Interest	$0	$0	$0	$0

TOTAL REVENUES	 	$0	$0	$0		so '
EXPEN DITURES:

capital Outlay - Construction	$0	$0	$0	$0

TOTAL EX PENDITURES	 	$0	$0	$0		so'
EXCESS REVENUES (EXPENDITURES)	$0	$0	
			
FUND BALANCE - Beginning	$0	$66	
			
FUND BALANCE- Ending	$0	$67	

10

ADOPTED	PRORATED	ACTUAL
BUDGET	THRU 10/31/19	THRU 10/31/19	VARIANCE

REVEN UES:

Int e rest	$0	$0	$1	$1
TOTAL REVENUES	 	$0	$0	Sl	s1 I
EXPENDITURES:

Capital Outlay - Construction		$0		so		$ 0		$0 TOTAL EXPENDITURES	I 	$0		$0		$0		so I EXCESS REVENUES (EXPENDITURES)		so				$1
FUND BALANCE- Beginning	$0	$606

FUND BALANCE - Ending	I	$0	$607

11

Reunion West
COMMUNITY DEVELOPMENT DISTRICT

capital Projects Fund
Series 2019
Statement of Revenues &  Expenditures
For The Period Ending October 31, 2019

ADOPTED	PRORATED	ACTUAL
BUDGET	THRU 10/31/19	THRU 10/31/19	VARIANCE

REVENUES:

EXPENDITURES:		

Capital Outlay - Construction		
$0	
$0	
$1,381	
($1,381)	
TOTAL EXPENDITURES		$0	$0	$1,381	($1,381) 1	
						
EXCESS REVENUES (EXPENDITURES)		$0		$1 ,654		
						
FUND BALANCE . Beginning		$0		$2,164,452		
						
FUND BALANCE · Ending		$0		$2,166,107		

Interest			$0		$0	$3,036		$3,036 TOTAL REVENUES	I		 $0		$0	$3,036		$3,036 I

12

Oct	Nov	Dec	Jan	Feb	Mar	Apr	May	June	July	Aug	Sept	Total

Revenues
Special  Assessments -Tax Collector		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0		$0 Special Assessments - Direct	$66,960	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$66,960 Interest Income		$0	$0	$0	$0	$0	$0 $0 $0 $0 $0 $0 $0  $0
Total Revenues	$66,960	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$66,960 I
Expenses

Supen,isarFees	$800	so	so	so	so	so	so	$0	$0	$0	$0	so	$800 FICA		$61	$0	$0	so	$0	so	so	$0	$0	$0	$0	$0		S61 Engineering	S252	$0	$0	$0	$0	$0                       $0                       so              $0                        $0                        $0                        so               $252   Attorney                                                            Sl,306                             $0                            $0                          so              so              $0                            so              so               $0                            $0                            $0                            $0                         Sl,306    Trustee Fee                                                           so                $0                              $0                            so               $0                            $0                            $0                            $0                            $0                            $0                            $0                            $0                                $0 Oissemination                                                      $833                             $0                             $0                           $0                           $0                           so               $0                             $0                         $0                           $0                           $0                           so               S833 Arbitrage                                                                            $0                           $0                              $0                           so               $0                             $0                             $0                         $0                         $0                           $0                         $0                         $0                                $0 Collection Agent                                             $7,500                            so               $0                            $0                            $0                            so              so              $0                            $0                            $0                            $0                        so             $7,500 Property Appraiser Fee                                                       $0                              $0                              $0                           so               $0                             $0                             $0                             $0                             $0                           $0                           $0                           $0                         $0
Annual Audit	$1,000	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$1,000
Management Fees	$3,690	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	S3,690 Information Technology		Sl83	$0	$0	so	so	$0	so	$0	$0	$0	$0	$0		$183 Telephone			$7	$0	$0	$0	$0	$0                         $0                         $0                         $0                       $0                         $0                         $0                          $7 Postage                                                                        $141                             $0                             $0                           $0                           $0                           so               $0                            $0                            $0                            $0                             $0                            $0                             $141  Printing & Binding                                                                           $36                             $0                             $0                           so               $0                             $0                             $0                             $0                             $0                             $0                             $0                             $0                       $36
Insurance	$8,754	$0	$0	$0	$0	$0	$0	$0	$0	$0	so	$0	$8,754
legal Advertising	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other Current O,arges	$3,050	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$3,0SO
Office Supplies	$16	$0	$0	$0	$0	$0	$0	$0	so	$0	$0	$0	$16
Travel PerDiem	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Dues, Licenses & Subscriptions	$175	$0	$0	$0	so	$0	$0	$0	$0	so	$0	$0	S175
Total Administrative	$27,803	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$27,8031

13

Oct	NOV	Dec	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sept	Total

Field Management	S2,509	so	$0	so	$0	so	so	$0	$0	so	$0	$0	$2,609 Facility  Lease Agreement	Sl.498	$0	$0	so	so	so	so	so	$0	so	so	$0	Sl,498 Telephone		S320	so	so	so	so	$0                     so              so              $0                     $0                     so               $0                      $320   Electric                                                             S22,104                           $0                          $0                        so              so              so               $0                        $0                        so               so                $0                        $0                    $22,104 Water & Sewer                                                                  S2,244                           $0                           $0                         $0                         so               $0                         $0                         so               $0                         $0                         $0                         $0                   S2,244
Gas	$412	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$D	$412
Pool and Fountain Maintenance	$6,163	$0	$0	$0	$0	$0	so	$D	$0	$0	$0	$0	$6,163
Environm ental		SllS	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0		$115 Property Insurance	S18,899	$0	so	so	$0	$0	$0	$0	$0	so	so	$0	$18)399 Irrigation Repairs		S9D7	so	$0	so	so	$0                        $0                        $0                        $0                         $0                         $0                       $0                         S907 La ndscape Contract                                                         S23,ll44                           $0                          $0                        so                $0                        so                $ 0                           $0                        so               so               $0                        so        $23)344
Landscape Contingency	S2,ll68	so	$0	so	so	$0	so	$0	so	so	so	so	$2)368 Landscape Consultjng	$1,430	$0	so	so	so	so	so	so	so	so	$0	so	Sl,430
Gate andGatehouse Expenses	S217	so	$0	$0	$0	$0	$0	$0	$0	$0	$0	so	$217
Roadway s/Sidewa  lks	S3D1	$0	$0	$0	so	$0	$0	$0	$0	$0	$0	$0	$301
Lighting		so	$0	so	$0	$0	SD	$0	$0	so	$0	$0	so		so MSA Building Repairs	S221	so	$D	so	$0	$0	$0	$0	$0	$0	$0	$0	$221 Pressure Washing	Sl54	so	$0	so	so	$0                    so               $0                    $0                     $0                     $0                     $D                     $154  Maintenance (Inspections)                                                $68                           $0                          $0                        $0                        $0                        $0                         so               $D                      $D                      $0                        $D                      $D                       S68
Repairs & Maintenance	$334	$0	$D	$0	$D	$D	$D	$0	$0	$0	$D	$0	$334
Pest Control		$0	$0	$0	$D	$0	$0	$0	$0	$0	$0	$0	$0		$0 Signage	$1)375	$0	so	$0	$0	so	$D	$0	$0	so	$0	$0	Sl,875 Security	$5,133	$0	so	$D	$0	$0                        so                $0                        $0                        $0                        $0                         $0                      $5,133 Inig  at ion System Operations                             $0                          $0                         so              so               so               so               so               so              $0                        $0                        so              $0                            so Contingency                                                                  so                 $0                          so               $0                        $0                        $0                         $0                        $0                         $0                         $0                         $0                         $0                            $0    Transfer Out - R&M Fund                                                    $0                           $0                          $0                        $0                        so               so              so               so              $0                         $0                        $0                        so               $0
Total Maintenance	$91,718	SD	$0	$D	$0	$D	$D	$0	$0	$0	$D	so	$91,7181

TotalExpenses	$119,521	$D	$0	$D	$0	$D	$0	$D	SD	$0	$0	$0	$119,52 1

Excess Revenues  (Expenditures)	($52,561)	$0	$D	SD	$D	$0	$0	$D	$0	$0	$D	$0	($52,56111

14

REUNION WEST
COMMUNITY  DEVELOPMENT DISTRICT

SPECIAL ASSESSMENT RECEIPTS • FY2020 TAX COLLECTOR
Gross Assessments $	4,lSS,764    $	1,233,252     $     1,417,083    $	347,739    $	sn,366     $	539,968    $	45,3S7 Net Assessments    $     3,906,418    $	1,159,256     $     1,332,058    $	326,875    $	538,024    $	507,569    $	42,636
		Gross	
commissions	Interest	Net Amount
Paid	Income	Received

$	442.00    $	$      21,657.74
$	8,194.76    s	$     401,543.23
$    35,611.74    $	$ 1,744,976.51
$	40.36    $	$	1,977.86
$	s	$
$	$	$
$	$	$
$	$	$
$	$	$
$	$	$
$	$	$
$	$	$
$	$	$
$	$	$
$	$	$
$	$	$
$	$	$
$	$	$	2004-1	2015	2016	2017	2019
Debt Svs Fund Debt Svs Fund
12.99%	1.09%

$	2,814.04   $	236.38
$	52,173.39   $	4,382.56
s   226,728.61    s	19 , 045. 20
s	256.99    $	21.59
s	s
$	$
$	$
$	$
$	$
$	$
$	$
$	$
$	$
$	$
$	$
$	$
$	$
$	$		
Date		Assessments	Discounts/		General Fund	Debt Svc Fund	Debt Svc Fund Debt Svc Fund		Total	
       Received		Dist.		Received	Penalties		29.68%	34.10%	8.37%	13.77%		100%	
11/12/19	ACH	$	23,340.36 $ 1,240.62		$	6,427.08   $	7,385.12	$	1,812.24   $	2,982.88		$	21,657.74	
11/22/19
12/6/19
12/9/19	ACH
ACH ACH	$	426,810.60       $  17,072.61
$     1,854,779.89     $ 74,191.64
$	2,038.96     $	20.74		$     119,160.71    $   136,923.11
s    517,833.76     $    595,023.39
$	586.94   $	674.43	$     33,599.66   $	55,303.79
$   146,013.22    $    240,332.32
$	165.50    $	272.41		$    401,543.23
$ 1,744,976.51
$	1,977.86	
		$	$		$	$	$	$		$	
		$	$		$	$	$	$		$	
		$	$		$	$	$	$		$	
		$	$		$	$	$	$		$	
		$	$		$	$	$	$		$	
		$	$		$	$	$	$		$	
		$	$		$	$	$	$		$	
		$	$		$	$	$	$		$	
		$	$		$	$	$	$		$	
		$	$		$	$	$	$		$	
		$	$		$	$	$	$		$	
		$	$		$	$	$	$		$	
		$	$		$	$	$	$		$	
		$	$		$	$	$	$		$	
Totals		$ 2,306,969.81 $ 92,525.61	$ 44,288.86	$	$2,170,155.34	$ 644,008.50 $ 740,006.05	$   181,590.63	298,891.40	$ 281,973.02	$	23,685.73	$ 2,170,155.34	

OFF ROLL ASSESSMENTS

REUNION WEST DEVELOPMENT PARTNERS, LUP	$526,733.00	$133,920.00	$392,813.00

DATE
RECEIVED	DUE
DATE	CHECK
NO.	NET
ASSESSED	AMOUNT
RECEIVED	GENERAL	SERIES
FUND	2019	
10/31/19	11/1/19
2/1/20
5/1/20	263366	$	263, 366.00
$     131,683.00
$     131,683.00	$ 263,366.00
$	.
$	.	$ 66,960.00 $ 196,406.00
$	.	$
$	$	
			$	S26,732.00	$ 263,366.00	$ 66,960.00 $ 196,406.00	

15

S ECTION 4

Reunion East/West coo Direct Billed Assessments for FY 2019

Landownder

Product

Total O & M Total Debt Total Due

O&M

Debt

Total

Paid

Orlando Health
34-25-27-4936-0001-0040

Nov Feb

$113,330
$56,665

so
$0

$113,330 Paid 11/27/19
$56,665

34-25-27-4936-0001-
0010/0020/00S0/0031

Commercial

 	$43,211	$0	$43,211     May
 	$380,419    $1,258,279     $1,638,698      Total

 	$95,105	$314,570	$409,675
 	$380,419	$1,258,279	$1,638,698

District
Reunion East

 	S226,6S9	so $226,659 	May	 	$56,665	$0	$56,665	
Tota ls	 	S226,659	$0	$226,659 	Total	       $226,659	$0	$226,659 	
					O&M	Debt	Total	Paid	
Orlando Reunion Development LLC	$2,386	$5,053	$7,439	Nov	$1,193	$2,527	$3,720		
35-25-27-4885-PRCL-OC30 4 MF				Feb	$S97	$1,263	$1,860		
May	 		$597	$1,263	$1,860 Total	 	$2,386	$5,053	$7,439

EHOF/SPECTRUM	O&M	Debt	Total	Paid
11-1-15 Interest	
27-25-27-2985-TRAC-FDZO/FC 296 Condos	Sll7,704	$504,490	$622,194	Nov	$190,210	$629,140	$819,349	
34-25-27-4936-000lFDlO	276 SF	$219,504	$753,789	$973,293	Feb	$95,105	$314,570	$409,675	

District
Reunion West	
Landownder
Reunion West Dev. Partners	
TotalO&M Total Debt	
Total Due		
O&M	
Debt	
Total	Paid	
	27-25-27-4927-0001-WClO	$133,920	$392,813	$526,733	Dec	$66,960	$196,407	$263,367 Paid 10/31/19	
	27-2S-27-3160-000A-0030			March	$33,480	$98,203	$131,683	
27-25-27-4927-0001-SF20	 	   June	 	$33 ,480	$98,203	$131,683	
	 $133,920.00 $392,813.00 $526,733.00 Total	      $133,920	$392,813	$526,733 	

S ECTl·ON 5

REUNION WEST COMMUNITY DEVELOPMENT DISTRICT
$57,560,000, SERIES 2004, WHICH HAVE BEEN TRIFURCATED INTO THE $16,905,000, $40,405,000, AND $250,000
SPECIAL ASSESSMENT BONDS,
SERIES 2004-1, SERIES 2004-2, AND SERIES 2004-3 ARBITRAGE REBATE REQUIREMENT
JULY 31, 2019

fJ

Grau & Associates
CERTIFIED  PUBLIC  ACCOU NTANTS

951 Yamato Road• Suite 280 Boca Raton, Florida 33431 (561) 994-9299 • (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

November 6, 2019

Reunion West Community Development District Osceola County, Florida

Re: $57,560,000  Reunion  West  Community  Development  District  (Osceola County, Florida), Special  Assessment  Bonds,  Series  2004,  which  have been trifurcated into the $16,905,000, $40,405,000, and $250,000 Special Assessment Bonds, Series 2004-1, Series 2004-2, and Series 2004-3 Bonds (the "Bonds")

Reunion West Community Development District has requested that we  prepare certain computations related to the above-described Bonds for the year ended  July 31, 2019 ("Computation Period"). The engagement consisted of the preparation of computations to be used to assist in the determination of the amount, if any, of the Rebate Requirement for the Bonds for the Computation Period as described  in Section 148(f) of the Internal Revenue Code of 1986, as amended  ("Code").  You have the ultimate responsibility for your compliance with arbitrage rebate laws; therefore, you should review the calculations carefully.

In order to prepare these computations, we were provided with the following information: various trust statements and the amended and restated first supplemental trust indenture for the Bonds. We did not verify or otherwise audit the accuracy of information provided to us by you or the Trustee, and accordingly, we express no opinion on such information. The attached schedules are based upon the aforementioned information provided to us. A brief description of the attached schedules is attached.

The results of our computations based on the information provided to us indicate a negative Rebate Requirement of ($3,694,544) for July 31, 2019. Consequently, our results indicate no amount must be on deposit in the Rebate Fund.

The Rebate Requirement has been determined as described in the Code and the Arbitrage Rebate Regulations.  We have no obligation  to update this report because of events occurring, or information coming to our attention, subsequent to the date of this report. It is understood that these calculations are solely for the information  of, and assistance to, the addressee for the purpose of complying  with  the Code and  the Arbitrage Rebate Regulations. Our report is not to be  used  for  any  other purpose.

Grau & Associates

DESCRIPTION OF ATTACHED SCHEDULES

Summary of Rebate Calculations - Provides a summary of the rebate calculations.

Purpose Expenditures Future Value Report - Verifies the rebate calculation.  The report future values the purpose expenditures by the arbitrage yield limit to the computation date (July 31, 2019).

Arbitrage Yield Limit (AYL) Verification Report - Verifies the calculation of the  arbitrage yield limit and the arbitrage gross proceeds. Discounts the debt service schedule by the arbitrage yield limit.

True Interest Cost (TIC) Verification Report - Verifies the calculation of the  true interest cost and the gross proceeds. Discounts the debt  service  schedule  by the true interest cost.

Unspent Proceeds Report - Verifies the amount of unspent proceeds. Lists purpose expenditures in chronological order.

Internal Rate of Return (IRR) Report Via Purpose Expenditures - Verifies the internal rate of return for the investment portfolio. This report presents values the purpose expenditures by the internal rate of return to the delivery date.

Reunion West Community Development District Special Assessment Bonds, Series 2004 -Trifurcated Summary of Rebate Calculations
$ 57,560,000.00

Dated: Delivered:

08/01/2012
08/01/2012

AnniverIC1ry Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •. . . . . . . . . . . . .	11/01/2012	
Future- f/a/11e De1le. . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . , . . . . . .• . , . . . . . . .	07/31/2019	
Arbitmge Yield Umit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	6.2513383	
Total of Anpose Exper1ditt1res. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$56,921,483.00	
Intema/ Rt1te of RctJ1rn. . . . . . . . . . . . . .• . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	0.0703122	
90% ( rebate liabtli!J. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	-$3,325,089 .98	
Pull rebate litzbi/t{y. . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . , . . . . . . . . . . . . .	-$3,694,544.43	

REUNIONWD4T-2012-A I FY: 1 I Mun-EaseElevateMainDb I 16.951EDB I 11/06/2019 I 11:48 I Rpt22
Grau & Associates
Grau & Associates CPAs

Page	1

Purpose Expenditures Future Value Report	F11t1m Vnl11Cd To :	07/31/2019
S 57,560.000.00

Transactio n Dale	GroliJ> ID	Fund
TD	
Description	Fi,t ure Value Periods	(.ak:u/atia11 Amt (Int. Earnings)	
Pool%	FV
Ft1c/(lr	FV
Amount	
8/1/2012	-I	COi	Beg. Arbitrage Gross Proceeds	14.0000000	-57,560 ,000.00	100.0000000	1.5386325	-88,563,689.07	
8/21/2012	0		Remed Exp	13.8888889	-759,574.00	100.0000000	1.5333797	-1,1 64,715.37	
8/21/ 201 2	0		COi	13.8888889	1 5,000.00	100 . 00 00000	1.5333797	23,000.70	
8/21/ 2012	0		Bond Trifurcation	13:8888889	44,715,452.00	I 00.0000000	1.5333797	68,565,767.33	
8/22/2012	0		COi	13.8833333	35,000.00	100.0000000	1.5331176	53,659.11	
8/27/2012	0		COi	13.8555556	62,291.00	100 .0000000	1.5318074	95,41 7.81	
8/28/201.2	0		COi	13.8500000	37,025.00	100.0000000	1.5315455	56,705.47	
10/4/2012	()		Reserve 2004-1	13.6500000	-5.00	100.0000000	1.5221468	-7.61	
11/19/2012	0		Remcd Exp	13.4000000	1,733.00	I 00.0000000	1.5104795	2,617.66	
11/21/2012	0		Rcmcd Exp	13.3888889	6,294.00	100.0000000	1.5099631	9,503.71	
11/21/2012	0		COi	13.3888889	10,000.00	100 . 0000000	1.5099631	1 5,099.63	
12/14/2012	0		COi	l3.26ll ll 1	25,534.00	100.0000000	1.5040364	38,404.07	
12/19/2012	0		Remcd Exp	IJ.2333333	13 , 061.00	100 .0000000	1.50275.11	19 , 627.43	
1/15/2013	0		COi	13.0888889	6,338.00	100 .0000 000	1.4960851	9,482.19	
4/10/2013	0		Remed Exp	12.6166667	27,474.00	100.0000000	1.4744980	40,51 0.36	
5/7/2013	0		Remed Exp	12.4666667	134,729.00	100.0000000	1.4677064	197,742.61	
6/18/20[3	0		Remed Exp	12.2388889	11 ,8 81..00	100.0000000	1.4574529	17,316 .00	
6/26/2013	0		Remed Exp	12.1944444	6,453.00	100.0000000	1.4554606	9,392.09	
7/2312013	0		RemedExp	12.0444444	655.00	100.0000000	1.4487566	948.94	
7/25/2013	0		Remcd Exp	12.0333333	-1.6, 544.00	1 00.0000000	1.4482613	-23,960.03	
8/19/2013	0		Remed Exp	11.9000000	3,395.00	100.0000000	1.4423301	4,896.71	
IO/l S/2013	0		Remed Exp	11.5888889	-58,570.00	100.0000000	1.4285851	-83,672.23	
I 0/28/2013	0		Rcmed Exp	11.5166667	55,483 00	100,0000000	1.4254131	79,086.19	
11/1/2013	0		Reserve 2004-1	11.5000000	1,071.00	100 ,0000000	1.4246821	1, 525.83	
11/6/2013	0		Remed Exp	11.4722222	20,150.00	100.0000000	1.4234646	28,682.81	
11/19/20.13	0		Remed Exp	I l.4000000	22,276.00	I 00.0000000	1.4203039	31, 638.69	
12/9/2013	0		Remed Exp	11.2888889	120.00	100.0000000	1.4154551	169.85	
12/19/2013	0		Remcd Exp	11.2333333	7,547.00	100.0000000	1 . 413 0369	10,664.1 9	
12/26/2013	0		Rcmcd Exp	11 .19 44444	\ 5,925.00	10 0.0000000	1.4 113466	22,475.69	
1/31/2014	0		Rcmed Exp	I 1.0055556	-2,600.00	100.0000()00	1 . 4031 653	-3,648.23	
4/25/2014	0		Remed Exp	10.5333333	9,425.00	100.0000000	1.3829190	13,034.01	
5/1/2014	0		Reserve 2004-1	10.5000000	51.00	100.0000000	1.3815009	70.46	
5/21/2014	0		Remed Exp	10.3888889	35,636.00	100.0000000	1.3767846	49,063.09	
5/21/2014	0		COi	10.3888889	3,943.00	100.0000000	1.3767846	5,428.66	
8/14/2014	2015		Remed Exp	9.9277778	22,137.00	100.0000000	1.3573830	30,04839	
8/20/2014	2015		Remed Exp	9.8944444	3,092.00	100.0000000	1.355991 2	4, 19 2.72	
&/22/2014	2015		Remed E'xp	9.8833 333	9,890.00	I 00.0000000	1 .355 5275	13,406.17	
11/3/2014	2015		Reserve 2004-1	9.4888889	75 00	100.0000000	l.3391705	100.44	
·1 1/20/2014	2015		Remed Exp	9,3944444	31 ,833.00	1 00,0000000	1.3352835	42,506.08	
12/15/2014	2015		Remed Exp	9.2555556	19, 589.00	100.0000000	1.3295876	26,045.29	
12/26/2014	2015		Remcd Exp	9.1944444	-4,754.00	100.0000000	l.3270892	-6,308.98	
2/18/2015	2015		Remed Exp	8.9055556	14,250.00	I 00.0000000	1.3153417	18,743.62	
4/14/2015	2015		Remed Exp	8.5944444	4,685.00	100.0000000	1.3028069	6,103.65	
5/1/2015	2015		Reserve 2004-1	8.5000000	68.00	100.0000000	1.29902 53	88.33	
5/19/2015	2015		Construction	8.4000000	4,695 ,000.00	100.0000000	1.2950333	6,080,181.51	

REUNIONW04T-2012-A I FY: 1 I Mun-EaseElevateMainOb I 16.95f EOB i 11/06/2019 I 11.481 Rpt15a
Grau & Associates
Grau & Associates CPAs

Page	1

Purpose Expenditures Future Value Report	F11t11re Va/sud To:	07/31/2019
$57,560,000.00

Transaction Date	Crrmp
ID	E-'iJ11d JD	
Descriptian	Future V,i/1#
Periods	C:1IC11!ation .Amt
(I.nl. Earniit ,)	
Poa/%,	FV
Ft1ctor	FI/
Amount	
5/21/2015	2015		Remed Exp	8.3888889	1,377.00	100.0000000	1.2945905	I, 782.65	
6/3nOl5	2015		Remed Exp	8.3222222	9,405.00	100.0000000	1.2919369	12,150.67	
6/16/2015	2015		Remed Exp	8.2500000	9,500.00	I 00.0000000	1.2890683	12,246.15	
6/26nOl5	2015		Construction	8.1944444	7,278,.l91.00	100.0000000	1.2868660	9,366,314.03	
8/6/2015	2016		Remed Exp	7.9722222	-31.00	100.0000000	1.2780944	-39.62	
8/14/2015	2016		Remed Exp	7.9277778	55,854.00	100.0000000	1.2763473	71,289.10	
10/16/2015	2016		Remed Exp	7.5833333	17,493.00	100.0000000	1.2628877	22,091.70	
3/21/2016	2016		Rcmed Exp	6.7222222	10,000.00	100.0000000	1.2298566	12,298.57	
3/24/2016	2016		Remed Exp	6.7055556	14,380.00	100.0000000	l.2292258	17,676.27	
3/24/2016	2016		Rcmcd Exp	6.7055556	236,920.00	100.0000000	1.2292258	291,228.19	
5/2/2016	2016		Reserve	6.4944444	11,022.00	I 00.0000000	l.2212647	13,460.78	
5/5/2016	2016		Remed Exp	6.4777778	-7.00	100.0000000	1.2206384	-8.54	
6117n0l6	2016		Remed Exp	6.2444444	13.569.00	I 00.0000000	1.2119037	16,444.32	
5/1/2018	2018		Rc erve	2.5000000	6,253.00	I 00.0000000	1.079983 l	6,753.13	
5/2/2018	2018		Reserve	2.4944444	718.00	100.0000000	1.0797984	775.30	
6/4/2018	2018		Reserve	2.3166667	775.00	100.0000000	UJ739063	832.28	
713/2018	2018		Reserve	2.1555556	805.00	100.0000000	1.0685943	860.22	
8/2/2018	2019		Reserve	1.9944444	878.00	100.0000000	1.0633085	933.58	
9/5/2018	2019		Reserve	1.811 I II I	887.00	I 00.0000000	1.0573255	937.85	
10/2/2018	2019		Reserve	1.6611111	893.00	100.0000000	1.0524554	939.84	
I l/2/2018	2019		Reserve	1.4944444	1,012.00	100.0000000	1.0470705	1,059 64	
12/4/2018	2019		Reserve	1.3166667	1.011.00	I 00.0000000	l.()413569	1.052.81	
I /3/2019	2019		Reserve	1.1555556	1,092.00	100.0000000	1.0362059	1,131.54	
2/4/2019	2019		Reserve	0.9833333	1,151.00	100.0000000	1.0307278	I, 186.37	
3/4/2019	2019		Reserve	0.8166667	1,044.00	100 0000000	1.0254540	1,070.57	
4/2/2019	2019		Reserve	0.6611111	1,163.00	I 00.0000000	1.0205562	1,186.91	
5/2/2019	2019		Reserve	0.4944444	1, 132.00	100.0000000	1.()153345	1,149.36	
6/4/2019	2019		Reserve	O.J 166667	1,160.00	l 00.0000000	1.0097941	1,171.36	
7/2/2019	2019		Reserve	0.1611111	1,122.00	I 00.0000000	1.0049710	1,127.58	
7/31/2019	-I		Unspent Proceeds as ol'07/3l/2019	0.0000000	669,007.00	L00.0000000	1.0000000	669,007.00	
					30,490.00			-3,694,544.43	
	Arbitrage Yield limit (AYL) . . . . . . . . . . . . . . .	6.2513383		
	l11temal Rate {}/ Retum (IRR) . . . . . . . . . . . . . .	0.0703122		
	Future Villued To.. . . . . . . . . . . . . . . . . . . . . . . .	7/31/2019		

REUNIONW04T-2012-A I FY: 11 Mun-EaseElevateMainDb I 16.95f EDB I 11/06/2019I11:48 I Rpt15a

Grau & Associates
Grau & Associates CPAs

Page	2

57,560, 000 .00		
C()upon	Principal	Crmpon	Interest	Cm/. E11h./	Periodii:	Pre1enl ·va/11e	Dircounted	
Period	Date	Ptryment	Rate	Pqyment	Sinking Fun,i .;1dj	Debt Scrvice	Fa,1or	Debt Senlice	
	11/0112012	1,930,000 .00	6 .250	899 ,375 .01	2,829,375.0 I	0 .9 847287	2,786.166.87	
2	05/01/2013	1,03 0,000.00	6.250	1, 738,437.50	2,768,437.50	0.9548823	2,643,531.89	
3	11101/2013			I,706,250.00	I,706,250.00	0.9259404	1,579,885.87	
4	05/01/2014	1,095 ,000.00	6.250	I , 706,250.00	2,801 , 250.0 0	0.8978758	2,515,1 74.62	
5	11/0112014			1,6 72,031.25	1,6 72,031.25	0.8706618	1, 455) 73.74	
6	05/01/2015	1, 165 , 000 .00	6 . 250	1,672,03 1.25	2,837,03 1.25	0 .844272 6	2,395 ,227.85	
7	ll/01/2015			1,635,625.00	1,635,625.00	0.8186833	1, 339,0 58.88	
8	05/()112016	1,235,000.00	6.250	1,635,625.00	2,870,625.00	0.7938696	2,278,901.83	
9	11/01/2016			1,597,031.25	1, 597,031.2	5	0 . 7698079	1,229,407.30	
10	05/01/2017	1,31 5,000.00	6.250	1,597,031.25	2,912 ,03 1.25	0.7464756	2, 173,760.16	
ti	l t/0112017			1, 55 5,937.50	1,5 55,937.50	0.7238504	I, 126,2 65.97	
12	05/01/2018	1,4 05,000.00	6.250	1,555,937 .50	2,960 ,937.50	0.7019110	2,078,314.54	
13	11/01/2018			1 , 512,03 1.25	1 , 512,03 1.2 5	0.6806365	1,029,143.71	
14	05/01/2019	1,490,000.00	6.250	1,51 2,03 1.2 5	3,002,031.25	0.6600069	1,98 I ,361.34	
15	ll/01/2019			1 , 465 , 468. 75	1, 46 5,468 .75	0.6400025	937,903 .72	
16	05/01/2020	1,590,000 .00	6.250	1, 465 , 468.75	3,055,468.75	0.6206045	1,896 ,237 .64	
17	11/01/2020			1,415,78 I .25	1,415 , 781.25	0.6017944	852,009.22	
18	05/01/2021	1,690,000.00	6.250	1.,415,78 1.25	3,105,781.25	0.5835544	1,812,392.36	
19	11/01/2021			1.,362 ,968 .75	1,362,968.75	0 5658673	771,259.41	
20	05/01/2022	1,800,000 .00	6 . 2 50	1., 362 , 968 . 7 5	3,162,968.75	0.5487162	I , 735,572.26	
21	I 1/0li2022			1,306 , 718.75	1,306,718.75	0.5320850	695,285.45	
22	05/01/202]	1,915 ,000.00	6.251)	1,306,7 18.75	3,221,718.75	0.5159579	1,662,271.14	
23	11/01/2023			1,246,875.00	1,246,875.00	0.5003195	623,835.92	
24	05/01/2024	2,040,000.00	6.250	1,246,87 5.00	3,286,875.00	0.485155 2	1 , 594,644.46	
25	l l/Ol/2024			I , 18 3,125 . 00	1 , 183 , 125.00	0.4704505	556,601.71	
26	05/01/2025	2.170,000	. 00	6 . 2 50	1, 183 , 12 5.00	3,353,125.00	0.4561914	1, 5 29,666.89	
27	11/01./2025			1, 1 15,3 1 2.50	I , I I 5,3 12.50	0.4423646	493,374.74	
28	05/0112026	2,310,000.00	6.250	1,115,312.50	3,425,312.50	0.4289568	1,469,J 11.11	
29	11/01/2026			1,043 , 125 .00	1, 043,125.00	0.4159554	433,893.49	
JO	05101/2027	2,460,000.00	6.250	l ,043, t 25.00	3,503, 125.00	0.4033481	1, 41 2,978.78	
31	11/01/2027			966,250.00	966,250.00	0.3911229	377,922.48	
32	05/01/2028	2,620,000.00	6.250	966,250.00	3,586,250.00	0.3792682	1,360,150.63	
33	11/01/2028			884,375.00	884.37S.OO	0.3677729	325,249.11	
34	05/01/2029	2,790,000 .00	6.250	884,375.00	3,674,375.00	0.3566259	1,310 ,3 77.31	
35	11/01/2029			797 ,187.50	797,187 .50	0.3458168	275 ,68 0.84	
36	05/01/2030	2,970,000.00	6.250	797,187.50	3,767, 187.50	0.3353353	1, 263,271.11	
37	11/01/2030			704,375.00	704,375.00	0.3251716	229,042.71	
38	05/01/2031	3,.160,000 . 00	6 .250	704,375.00	3,864,375.00	0.3153158	1, 218, 498.59	
39	11/01/2031			605,625 .00	605,625 .00	0.3057588	185,175. 18	
40	05/01/2032	3,365,000.00	6.250	605,625.00	3,970,625.00	0.2964915	LI 77,256.46	
41	I t/0112032			500,468.75	500,468.75	0 2875050	143,887 28	

MSRB 30/360SE1Wl4/3

REUNIONW04T-2012-A I FY: 11Mun-EaseElevateMainDb I 16.95fEDB I 11/06/2019 I 11:51 I Rpt01h
Grau & Associates
Grau & Associates CPAs	Page	1

57,560,000.00

LviSRB 30/ 360 SF.Ml 4/ 3

Perind	Coupon Date	Pri11tipal
A!JINCIII	Cn11pon R;,te	Interest Pqymtnl	Cn:d. Enh./ Sinking Fund Adj	Periodic Debt Seroice	Present i 'cllue
Factor	Discounted Debi Service	
42	05/01/2033	3,580,000.00	6.250	500,468.75		4,080,468.75	0.2787909	I,137,597.70	
4)	l l/Ol/2033			)88,593.75		388,593.75	0.2703410	[ 05,052.81	
44	05/01/2034	3,81 0,000.00	6.250	388,59).75		4,198,593 . 75	0.262147 1	l , I 00,649.26	
45	11/01/2034			269,531.25		2 69,531.2 5	0.2542016	68,515. 28	
46	05/01/2035	4,055,000.00	6.250	269,531.25		4,324,531.25	0.2464969	1 ,065,983.72	
47	11/01/2035			1 42,81 2.50		1 42,812 . 50	0.2390258	34,135.87	
48	05/01/2036	4,570,000.00	6.250	1 42,812.50		4,712,8[2.50	0.2317811	1.092,340.75	
		57,560,000.00		52,792,812.51	0.00	110,352,812.51		57,559,999.98	

7i·ue  Interest Cost (T!Cj. . . .	6.2513383
Ne/  /nteresl  Cost (NlC). .	··· ·· • ··· · ·	6.2500000

Face value of bond Issue.
ilcc111ec/ i111eres1 (-) . . .

$57,560,000.00

Arbilmge Yield limit IA l' l j ........	6.2513383	Original issue premium ldiscounl ( - ). . . . . .	$0.00	
Arbitrage Ne, !meres/ Cost (AN!().	6.2500000	Bond surety.fee (-). . . . . . . . . . .	$0.00	
		lump-sum credit enhancements (-;.
Other tiYI. costs (-) ....	$0.00	
		11YL forget. . . . .. . . . . . . . _	$57,560,000.00	

REUNIONW04T-2012-A I FY: 1 I Mun-EaseElevateMainDb j 16.95f EDB I ·11106/2019 I 11:51 I Rpt01h
Grau & Associates	
Grau & Associates CPAs	Page	2

Reunion West Community Development District Special Assessment Bonds, Series 2004 -Trifurcated

,:\,JSRB 10/ 160 SEHi-i! 3

T.I.C. Verification Reoort (Regular)	Dat<d·	N 1/2012
57,560,000.00	De/i,rrr.d:	8/  I /.Y)/2

Period	Co11pon
Date	Principal
Pi:ryment	Coupot1 Rate	/'nterusl
Pi:ryment	Lredit
Enhancemcn/..r	Periodk Debt S eroice	Prese,rt Va/11e Fodor	Discounted Debt Smice	
	11/1/2012	1,930,000.00	6.250	899,375.01		2,829,375.0 I	0.9847287	2,786,166.87	
2	5/ l/2013	1 , 030,0 00 00	6.250	1,738,437.50		2,768,437.50	0.9548823	2,643,531.89	
3	11/1/2013			1,706,250.00		1,706,250.00	0.9259404	1,579,885.87	
"	5/1/20[4	1 , 095,000.00	6.250	I,706,250.00	2,801,250.00	0.8978758	2,515,174.62	
5	ll/1/2014			1,672,031.25	1,672,03 1.25	0.8706618	1,4 55.713.74	
6	5/1/2015	I,165,000.00	6.250	I Ji72,03 I .25	2,837,031.25	0.8442726	2,395,227.85	
7	11/1/2015			l,635,625.00	l,635,625.00	0.8186833	1,339,058.88	
8	5/1/2016	1,235,000.00	6.250	1,635,625.00	2,870.625.00	0.7938696	2,278,901.83	
9	ll/1/2016			1.597,031.25	1,597,031.25	07698079	1,229 ,407.30	
10	5/1/2017	1,315,000.00	6.250	1,597,03 l.25	2,912,031.25	0.7464756	2,173,760.16	
II	11/1/2017			1,555,937.50	1,555,937.50	0.7238504	I.[26,265.97	
12	5/1/2018	1,405,000.00	6.250	1,555,937.50	2,960,937.50	0.70191I.O	2,078,314.54	
13	11/112018			1,512,03 1.25	1,512,031.25	0.6806365	1,029,143.71	
14	5/1/2019	1.490.000.00	6.250	1,512,031.25	3,002,031.25	0.6600069	I ,981,361.3-1	
15	l l/1/2019			1,46 5,468.75	1,465,468.75	0.6400025	937,903.72	
16	5/1/2020	1,590,000.00	6.250	1,465,468.75	3,055,468.75	0.6206045	1 , 896,23 7.64	
17	11/1/2020			1,415,781.25	1,415,781.25	0.6017944	852,009.22	
18	5/1/2021	1,690,000.00	li.250	1, 41 5,781.25	3,105,781.25	0.5835544	1,812,392.36	
19	11/1/2021			1,362,968. 75	1,362,968.75	0.5658673	771,259.-11	
20	5/1/2022	1,800 , 000.00	6 . 250	1,362,968 .75	3,162,968.75	0.5487162	I,735,572.26	
21	11/1/2022			1,306 , 718 .75	1,306,718.75	0.5320850	695,285.45	
22	5/1/2023	1,915,000.00	6.250	1,306,718.75	3,221,718.75	0.5159579	1,662,27l.l4	
23	11/1/2023			1,246,875.00	1,246,875.00	0.5003195	623,835.92	
24	5/1./2024	2,040,000.00	6.250	1,246,875.00	3,286,875.00	0.4851552	1,594,644.46	
25	11/1/2024			1,183,1 25.00	1,183,125.00	0.4704505	556,601.71	
26	5/1/2025	2,170,000.00	6.250	1,183,125.00	3,353,125.00	0.4561914	1,529,666.89	
27	11/1./2025			1,115)12.50	l,IIS,312.50	0.4423646	493,374.74	
28	5/1/2026	2,310,000.00	6.250	1, 115 ,31 2.50	3,425,312.50	0.4289568	1.469,311.11	
29	I 1/1/2026			1,043,125.00	1,043,i25.00	0.4159554	433.893.49	
30	5/1/2027	2,460,000.00	6.250	L,043,125.00	3,503,125.00	0.4033.481	1,412,978.78	
31	11/1/2027			966,250.00	966,250:00	0.3911229	377,922.48	
32	5/1/2028	2,620,000.00	6.250	966.250.00	3,586,250.00	0.3792682	1,360,150.63	
33	I 1/1/2028			884,375.00	884,375.00	03677729	325,249.11	
34	5/1/2029	2,790,000 .00	6.250	884,375.00	3,674,375.00	0.3566259	1,310,377.31	
35	11/1/2029			797,187.50	797,187 50	03458168	275,680.84	
36	511/2030	2,970,000.00	6.250	797,18 7.50	3,767,187. 50	0.3353353	1,263.271.11	
37	11/1/2030			704,375.00	704,375.00	0.3251716	229,042.71	
38	5/1/2031	3, 160 , 000.00	6 . 250	704,375.00	3,864,375.00	0.3153 I 58	1,218,498.59	
39	11/1/2031			605,625.00	605,625.00	0.3057588	18,5 1.75.18	
40	5/1/2032	3.365,000.00	6.250	605,625.00	3,970,625.00	0.2964915	I, I 77,256.46	
41	11/1/2032			500,468.75	500,468.75	0.2875050	143,887.28	
REUNIONW04T-2012-A I FY: 1 I Mun-EaseElevateMainDb 116.951EDB I 11/06/2019I11:52 I Rpt01a
Grau & Associates	Page	1
Grau & Associates CPAs

Reunion West Community Development District Special Assessment Bonds, Series 2004 -Trifurcated
T.I.C. Verification Reoort (Regular)
57,560,000.00

2
MSRB HJ/ WI  SEMI+/ 1

Dated:	3/1/2012

De/i•tr:d:	3/1/2012

	
Pe,iod	C{)upo11 Date	Pn·n,ipal
Pqyment	Cimpo11 Rate	Interest
Pizyment	Ci-edit
Enhancements	Periodic Debt Seroicc	Pn:senl f·'a/ue
Fador	DiJcounted Debt Surui<-e	
	42	5/1/2033	3,580,000.00	6.250	500,468.75		4,080,468.75	0.2787909	1,137,597.70	
	43	11/1/2033			388,593.75		388,593.75	0.2703410	105,052.&I	
	44	5/1/2034	3,8 l 0,000.00	6.250	388,593.75		4,198,593.75	0.2621471	I, I 00,649.26	
	45	11/1/2034			269,531.25		269,531.25	0.2542016	68,515.28	
	46	511/2035	4,055,000.00	6.250	269,531.25		4,324,53 l.25	0.2464969	1,065,983.72	
	47	11/1/2035			142,812.50		142,812.50	0.2390258	34,135.87	
	48	511/2036	4,570,000.00	6.250	142,812.50		4,712,812.50	0.23178 ll	1,092,340.75	
			57,560,00().()0		52,792,812.5 I	().Of}	l/0,352,8I2.51		57,559,999.98	
True Interest Cost ([!CJ . . . . . . .	6.2513383	Face value rif bond Issue.		$57,560,000.00	
:Vet Interest Cost (MC). . . . .	6.2500000	Accrued interesr (-)   ...,.  ..,	.., ... , . .		

Arbitrage Yield Umit fAYL) .........	6.2513383
Arbitrage Net  Interest Cost t:"IN/Cj	6.2500000

Original issue premium/discount ( .1 ... .
Undenvri1er discount  (   ) ..., .,     ...     .
lump-sum credit enhancements (0/ .• .• • • . .
Orher TIC costs f-) .
Bond surety.fee (-) .....
=Tf(' Targe1 .

$0.00
$0.00
$0.00

N/A
$57,560,000.00

REUNIONW04T-2012-A I FY: 11 Mun-EaseElevateMainDb 116.951 EDB I11/06/2019 I 11:52 I Rpt01a
Grau & Associates	Page	2
Grau & Associates CPAs

G1k
Date	Grp
ID	
P11,p	F1111d
lD	
D11.wiptio11	Gro.rs
.:tHJtJHIII	Pool Percc11tagc	No11p111post
f11wflmml	PlfrpoJ·e Bxpcndit11m	Uns/mit Pro.eeds	
08/0112012	-I	N	CO!	Beg. Arbitrage Gross Proceeds		I 00.0000000			57,560,000.00	

08121, 2012	
0	
y		
Remed Exp	
-759,574.00	
I00.0000000		
-759,574.00	
58,319,574.00	
08/2li2012	0	y		COL	15,000 00	100 .0000000		15,000.00	58,304,574 00	
08i2l.120l2	0	y		Bond Trifurcation	44,715,452.00	I 00.0000000		44,715,452.00	13,589,122.00	
08;22/2012	0	y		cor	35,000.00	L00.0000000		35,000.00	13,554,122.00	

08i27i20l2	
0	y		
COL	
62,291.00	
I 00.0000000		
62,291.00	
13,491 ,83 1.00	
08128i2012	0	y		COi	37,025.00	I 00.0000000		37,025.00	IJ,•154,8ll6.00	

10/04/2012	
0	
y		
Reserve 2004-1	
-5.00	
I 00.0000000		
-5.00	
13,454,811.00	

ll il 9,20 l 2	
0	y		
Rcmed Exp	
1,1 33.00	
1000000000		
1,733.00	
13,453,078.00	
11/21.·2012	0	y		Romed Exp	6,294.00	I00 .0000000		6,294.00	13 ,446,784.00	
ll 121/2012	0	y		COi	J0 , 000.00	100.0000000		10 ,0 00.00	13 ,436,784.00	

1 2/14 / 2012	
0	
y		COi	
25,534.00	
l 00.0000000		
25,534.00	
l.l,411,250.00	

1 2119 /2 01 2	
0	
y		
Rcmcd Exp	
l.l,061.00	
100.0000000		
13,061.00	
13,398,189.00	

01115:2013	
()	y		COi	
6,338.00	
l()0,0000000		
6,338.00	
13,391 ,85 1.00	

04i l0/20 13	
0	
y		
Remed Exp	
27,474.00	
100.0000000		
27,474.00	
13,364.377.00	

05/07/2013	
0	
y		
Rcmcd Exp	
1.14,729.00	
100 .0000000		
134.7 29.00	
13, 229,648.00	

06/18 / 2013	
I)	y		
Rcmed Exp	
11,881.00	
L00 .0000000		
11,881.00	
13 ,21 7,767.00	

06126/2013	
0	
y		
Rcmed Exp	
6,453.00	
I 00. 0000000		
6,453.00	
13,211,ll4.00	

07i23i2013	
0	
y		
Remcd Exp	
65.5.00	
I00 .0000000		
655.00	
13.110,659.00	
07/25/2013	0	y		Romed Exp	-16,544 .00	100.0000000		-16,544.00	13,2 27,203.00	

08119, 2013	
0	
y		
Rcmcd Exp	
.l,.195 .00	
LOO.000000 0		
3,395 .00	
I 3,223,808.00	

I OiLS/ 2013	
0	y		
Remed Exp	
-58,570.00	
I 00 .0 00000U		
-58,570.00	
I 3.282 ,378.00	

10 i28i201J	
0	y		
Remed Exp	
55,483.00	
I 00.0000000		
55,483.00	
13,226,895.00	
11101;:wu	0	y		Reserve 2004-1	1 ,0 71.00	I 00.0000000		1.071.00	13, 225,8 24.00	

11/0612013	
0	y		
Rerned Exp	
20, 150 .00	
I 00.0000000		
20,150.00	
13,205,674.00	

ll/19/2013	
0	y		
Remed Exp	
22,276.00	
l00.0000000		
22,276.00	
13 ,183,398.00	

1 2i091201)	
0	
y		
Remed Exp	
1 20.00	
100.0000000		
120.00	
13,183 , 278.00	

12'1912013	
0	
y		
Romed EKp	
7,547 .00	
I 00 .0000000		
7,547.00	
13 , 1 75,731.00	

REUNIONW04T-2012-A I FY: 1 I Mun-EaseElevateMamDb J 16.951 EDS f 11106/2019 I 11:48 I Rpt11
Grau & Associates 
Grau & Associates CPAs	Page	1

C.1k
Date	C,p
ID	

P11,p	hmd
ID	
Description	Gross
Amount	/Jo1J/
Percentage	z-..:1111p1rrp11s, Investment	P11rp1Jse
Expendil111ws	Unspmt l'ro,we,I.,·	

12126/2013	

0	
y		

Rcmed Exp	

15,925 00	

100.0000000		

15,925.00	

13,159,806.00	

0Jr3li20l4	
0	y		
Rcmed Exp	
-2,600.0()	
100.0000000		
-2,600.00	
13.162Al6.00	

04i25/20l4	
0	y		
Rcmed Exp	
9,425.00	
I00 .0000000		
9,425.00	
13,152,981.00	

05101•2014	
0	
y		
Reserve 2004- I	
51.00	
I00 .0000000		
51.IJO	
l.l,152,930.00	

05121.°2014	
0	y		
Remed Fxp	35,636.00	
I 00.0000000		
35,636.00	
13,117.29•1.00	
05/21,2014	()	y		COi	3,943.00	I 00 .0000000		3.943.1)0	13,ll.l,.151.00	

08,]4<2014	
20 I 5	y		
Remed Exp	
22,137.00	
I 00.0000000		
22,1 r'.00	
IJ,091,214.00	

08;2012014	
2015	y		
Rcmed Exp	
J,092 00	
100.0000000		
.l,092.00	
13,088,122.00	
08i22,2014	2015	y		Remed Exp	9,890.00	I00 .0000000		9,890.00	I J.078,232.00	

I l.03i2014	
2015	y		
Reserve 2004-1	
75.00	
I.00 0000000		
75.00	
13,078,157.00	

I L'2llt2014	
2015	y		
Remed Exp	
31,833.00	
100.0000000		
31.833,00	
13,046.324.00	

12il5i2014	
2015	y		
Rcmcd Exp	
19,;89.00	
100.0000000		
19,;89.00	
l.l,026,7.15 00	

12/26/2014	
201;	y		
Remed Exp	
--4,754.0U	
I 00.0000000		
-4,754,00	
13,031.489.00	

02:18;]015	
2015	
y		
Rcmed Exp	
14,250.00	
lllO.OOOIJOllO		
14,250.00	
13,017,139.00	

0'1·1412015	
2015	
y		
Rcmed Exp	
4,685.00	
I 00.0000000		
4,685.00	
13,012,55,LIJ()	

05101:201;	
2015	y		
Reserve 2004- I	
68.00	
100.0000000		
68.00	
1.;,012,486.00	

05'\9(2015	
2015	y		
Cons1ruc1ion	
4,695.000.00	
I 00.0000000		
4,695,000.00	
8,J 17,486.00	
05;2[ 2015	2015	y		Remed Exp	1,377.00	100.0000000		l,37700	8,.116,109.00	

06i03f2015	
2015	y		
Remed Exp	
9,405.00	
100.0000000		
9,,105.00	
8,306.704 Oil	

06!16i2015	
2015	y		
Remcd exp	
9,500.00	
100.0000000		
9,500.00	
8,297.204 00	

0612612015	
2015	y		
Constrnction	
7,278,.l91.00	
100 0000000		
7,278,391.00	
1,018,813.00	

0810612015	
2016	y		
Remcd Exp	
-.ll.00	
I00. 0000000		
-31.00	
1,0 I 8,8,14 Oil	

08114i2015	
2016	y		
Remed Exp	
55,854.00	
100.0000000		
55,854.00	
962,990.00	

10/16/2015	
2016	y		
Remed Exp	
I 7,49.l.OO	
100.0000000		
17.493,00	
9•15,497 .00	

OJ.21,2016	
2016	y		
Remed Exp	
10,000.00	
I 00.0000000		
10,000.00	
935,497.00	

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Grau & Associates CPAs

Page	2

Cak
D<1le	Gip
ID	

Pmp	F1111t!
ID	
Description	Gross
Ammml	Pool
l'crrenl,ige	Nonpmposr
l 1111eslmenl	Pur/"""
E-.:pe111litures	c;Nspe111
Procet1ls	
03i24;2016	2016	y		Rcmed fap	1 4,380 .00	I 00.0000000		1•1,380. 00	921, 117 .00	
03124.'20l6	2016	y		Remed Exp	236,920.00	100.0000000		236,920.00	684.197.00	

05/02/2016	
2016	y		
Reserve	
11,022.00	
100 .0000000		
11 ,0 22.00	
673,175.00	
05i05,'2016	1016	y		Remed Exp	-7.00	I00.0000000		-7.00	673,JSZ.OO	

06117.'2016	
2016	y		
Rcmed Exp	
l.l,569.00	
100.00000110		
l.l ,569.00	
659,613.00	

05'01,2018	
2018	y		
Reserve	
6.253 .00	
I 00.0000000		
6.253.00	
65] ,360.00	
05/0212018	2018	y		Reserve	718 .00	I U0.0000000		718 .00	652,642.00	

1)6J04 i2018	
2018	y		
Reserve	n.rno	
I 00.0000000		
775.00	
651,867.00	

07:03i2018	
1018	y		
Reserve	
805.00	
I 00.0000000		
805.00	
651,062.00	

08/0, 2 2018	
1019	y		
Reserve	
878.00	
HIil.OO00IJO0		
878 .00	
650,184.0IJ	

09105i2018	
2019	y		
Reserve	
887.00	
I00.0000000		
887.00	
649,2'n.oo	

10/02/2018	
2019	y		Reserve	
893.00	
100.0000000		
893.00	
648,404.00	

1,1 02,20 1 8	
2019	y		Reserve	
1 ,0 1 2.00	
IIJ0.000110110		
1 ,0 12 . 00	
647,392.00	

12/04/2018	
1019	y		
Reserve	
1,0 11.00	
100 .000 0000		
1,011.00	
646,381.tlO	

01/03/2019	
1019	y		Reserve	
1,09 2.00	
I 00.0000000		
1,092 .0 0	
645.189.0ll	

02/04i2019	
2019	y		
Reserve	
, 1 15 1.00	
I00.0000000		
1,151.00	
644,138.00	

03/0412019	
2019	y		
Reserve	
1,044.00	
I 00.0000000		
1.044.00	
643,094.00	

04i02l2019	
2019	y		
Reserve	
1,16.l.OO	
I00.0000000		
1, 163 .00	
641,931.00	

05,02/20 19	
2019	y		
Reserve	
1,132 .00	
I00.0000000		
1,13 2.00	
640,799.00	

06/04/2019	
2019	y		
Reserve	
1,l<i0.00	
I 00 . 0000 000		
1,160.00	
639.639.00	

07,02/2019	
2019	y		Reserve	
1, 12 2.00	
100.0000000		
1,122.IJO	
638,5 17.00	
					56,921,483.00		0.00	56,921,483.00		

First lnve.ftme11l Date. . . . . . . . . . . . . . ., . ........	8/21/2012	
Ca/c11latio11 Date ............., ,	, ..	7/31/2019	
Arbitrage Yield Limit (A l'L). . . . . . . . . . . . . . . . . . . .	6 .251 3383	
illtemal Rate of Return (IRR). . . . . . . . . . . . . . . . . .	0.0703122	

REUNIONW04T-2012-A J FY: 1 j Mun-EaseElevateMainDb j 16.95f EDB j 11/06/2019 j 11:48 j Rpt11
Grau & Associates 
Grau & Associates CPAs	Page	3

$ 57.560 ,000.00

C,p	Trans
lD	Date	Fund lD	

Description	Dqy Gount Cakulat.ion Amt	Pool E1ctor	(I11temt Bamin s) Pctg	** Internal Rate ()/ Return **
PVFmtor	Pl/Amt	
-1 08/01/2012		Beg, Arbi1rage Gross Proceeds	0,0000000	(57,560,000.00) 100.000	1.0000000	(57,560,000.00)	
0 08/21/2012		Bond Tri furcation	0.1 ll I l ll	44,715,452.00 100,000	0.9999609	44,71 3,705.65	
08/21/2012		COi	O. ll  I Ill  l	1 5,000.00 100,000	0.9999609	1 4,9<.J9 .41	
08/21/2012		Remcd Exp	0.1 l llll l	(759,574.00) 100.000	0.9999609	(759,544.34)	
	08/22/2012	COi	0.1166667	35,000.00	100.000	0.9999590	34,998.56	
	08/27/2012	COi.	0.1444444	62,291.00	100.000	0.9999492	62,287.84	
	08/28/2012	COi	0.1500000	37,025.00	100.000	0.9999473	37,023.05	
	10/04/2012	Reserve 2004-1	0.3500000	(5.00)	100,000	0.9998770	(5.00)	
	11/19/2012	Remcd Exp	0.6000000	1,733.00	100.000	0.9997891	1,732.63	
	11/2112012	Remed Exp	0.6111111	6,294.00	100.000	0.9997852	6,292.65	
	11/21/2012	COi	0.6111111	10,000.00	100.000	0.9997852	9,997.85	
	12/14/2012	COi	0.7388889	25,534.00	100.000	0.9997403	25,527.37	
	12/19/2012	Remed Exp	0.7666667	1 3,061 .0 0	100.000	0.9997306	13,05748	
	01/15/2013	CO[	0.9111111	6,338.00	100.000	0.9996798	6,335.97	
	04/10/2013	Remed Exp	1.3833333	27,474.00	100.000	0.9995139	27,460.64	
	05/07/2013	Remed Exp	l.5333333	134,729.00	100.000	0.9994612	134,656.41	
	06/18/2013	Remed Exp	1.7611111	11,881.00	100.000	0.9993812	11,873.65	
	06/26/2013	Remed Exp	1.8055556	6,453.00	100.000	0.9993655	6,448.91	
	07/23/2013	Remed Exp	1.9555556	655.00	100,000	0.9993129	654.55	
	07/25/2013	RemcdExp	1.9666667	(16,544.00)	100.000	0.9993090	(16,532.57)	
	08/19/2013	Remed Exp	2.1000000	3,395.00	100.000	0.9992621	3,392.49	
	10/15/2013	RemcdExp	2.4 ll 1111	(58,570.00)	100.000	0.9991529	(58,520.38}	
	10/28/2013	Remcd Exp	2.4833333	55,483.00	100.000	0.9991275	55,434.59	
	ll/Ol/2013	Reserve 2004-1	2.5000000	1,071.00	100.000	0.9991216	1,070.06	
	ll/06/2013	Rcmed Exp	2.5277778	20,i5o .oo	100.000	0.9991119	20,132.10	
	11/19/2013	Remed Exp	2.6000000	22,276.00	100.000	0,9990865	22,255.65	
	12/09/2013	Remed Exp	2.7111111	120.00	100,000	0.9990475	119.89	
	12/19/2013	Remed Exp	2.7666667	7,547.00	100.000	0.9990280	7,539.66	
	l 2/26/20 I.3	Remed Exp	2.8055556	15,925.00	100.000	0.9990143	15,909.30	
	01/31/2014	Remed Ex.p	3.0000000	(2,600.00)	100.000	0.9989461	(2,597.26)	
	04/25/2014	Remed Exp	3.4666667	9,425.00	100.000	0.9987822	9,41 3.52	
	05/01/2014	Reserve 2004-1	3.5000000	51.00	100.000	0.9987705	50.94	
	05/21/2014	COi	3.611 1111	3,943.00	100.000	0.9987315	3,938.00	
	05/21/2014	Rcmed Exp	3.6111111	35,636.00	100.000	0.9987315	35,590.80	
2015	08/14/2014	Rcmed Exp	4.0722222	22,137.00	100.000	0.9985696	22,105.34	
	08/20/2014	Remcd Exp	4. 1055556	3,092.00	100.000	0.9985579	3,087,54	
	08/22/2014	Remcd Exp	4.1166667	9,890.00	100.000	0.9985540	9,875.70	
	l li03/20l4	Reserve 2004-1	4.5111111	75.00	100.000	0.99841 56	74.88	
	11/20/2014	Remed Exp	4.6055556	31,833.00	100.000	0.9983825	31,781.51	
	12/15/2014	Remed Exp	4.7444444	19,589.00	100.000	0.9983337	19.556.36	
	12/26/2014	Remed Exp	4.8055556	(4,754.00)	100,000	0.9983123	(4,745.98)	
	02/18/2015	Remed Exp	5.0944444	14,250.00	100.000	0.9982109	14,22-1.51	
	04/14/2015	Remed Exp	5.4055556	4,685.00	100.000	0.9981018	4,676.11	
	05/01/2015	Rcseive 2004-1	5.5000000	68.00	100.000	0.9980686	67.87	
	05/19/2015	Construction	5.6000000	4/i95,000 .00	100,000	0.9980335	4,685.767.47	
	05/21/2015	Rcmcd Exp	5,6111111	1,377.00	100.000	0.9980296	l.374.29	
	06/03/2015	Rcmed Exp	5.6777778	9,405.00	100.000	0.9980063	9,386.25	
	06/16/2015	Rcmcd Exp	5.7500000	9,500.00	100.000	0.9979809	9,480.82	
	06/26/2015	Construction	5.8055556	7,278,391.00	100.000	0.9979614	7,263,553.50	
2016	08/06/2015	Remed Exp	6.0277778	(31.00)	100.000	0.9978835	(30.93)	
	08/14/2015	Rcmed Exp	6.0722222	55,854.00	100 .000	0.9978679	55,7 34.91	

REUNIONW04T-2012-A  I  FY: 1 I Mun-EaseElevateMainDb I 16.95f EDB 1 11/06/20191 11:48 I Rpt09c
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Grau & Associates CPAs

$ 57,560,000.00

	Grp
lD	Tmn, Date	Fund ID	

Description	D,9 Count
l-'i1dor	Calculation Amt (Interest Eaming.1)	Pool
Pc{g	** lntenwl Rate PVFactor	of Return **
PV/lmt	
	2016	I 0/16/2015		Remed Exp	6.4166667	17,493.00	100.000	0.9977471	17,453.59	
		03/21/2016		Rcmcd Exp	7.2777778	10,000.00	100.000	0.9974451	9,974.45	
		03/24/2016		Remed Exp	7.2944444	14,380.00	100.000	0.9974393	14,343.18	
		03/24/2016		Remcd Exp	7.2944444	236,920.00	100.000	0.9974393	236,313.32	
		05/02/2016		Reserve	7.5055556	11,022.00	100.000	0.9973653	10,992.96	
		05/05/2016		Remcd Exp	7.5222222	(7.00)	100.000	0.9973594	(6.98)	
		06/17/2016		Remed Exp	7.7555556	13,569.00	100.000	0.9972776	13,532.06	
	2018	05/01/2018		Reserve	I 1.5000000	6,253.00	100.000	0.9959659	6.227.77	
		05/02/2018		Reserve	11.5055556	718.00	100.000	0.9959640	715.10	
		06/04/2018		Reserve	11.6833333	775.00	100.000	0.9959017	771.82	
		07/03/2018		Reserve	11.8444444	805.00	100.001)	0.9958453	801.66	
	2019	08/02/2018		Reserve	12.0055556	878.00	100.000	0.9957889	874.30	
		09/05/2018		Reserve	12.1888889	887.00	100.000	0.9957248	883.21	
		[0/02/2018		Reserve	12.3388889	893.00	100.000	0.9956723	889.14	
		11/02/2018		Reserve	12.5055556	l.0[2.00	100.000	0.9956140	1,007.56	
		12/04/2018		Reserve	12.6833333	1,011.00	100.000	0.9955517	1.006.50	
		01/03/2019		Reserve	12.8444444	1,092.00	100.000	0.9954954	1,087.08	
		02/04/2019		Reserve	13.0166667	1,151.00	l00.000	0.9954351	I.I 45.75	
		03/04/2019		Reserve	13.1833333	1,044.00	100.000	0.9953768	1,039.17	
		04/02/2019		Reserve	13.3388889	1,163.00	100.000	0.9953224	1,157.56	
		05/02/20 I.9		Reserve	13.5055556	1,132.00	100.000	0.9952641	1,126.64	
		06/04/2019		Reserve	13.6833333	1,160.0()	100.000	0.9952019	1,154.43	
		07/02/2019		Reserve	lJ.8388889	1,122 00	100.000	0.9951475	1,116.56	
	99999	07/31/2019		Unspent Proceeds a 0[07/31/2019	1.4.0000000	669,007.00	100.000	0.9950911	665,722.91	
						30,490.00			(0.04)	

Arbitrage Yield limit . . . . . . . . . . . . . . . .
Internal Rate of Return . . . . . . . . . . . . . .
Calculatimr Standard . , . . . . . . . . . . . . . .

6.2513383
0.0703122
MSRB  30/360 SEMI 4/3

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Grau & Associates CPAs

REUNION WEST COMMUNITY DEVELOPMENT DISTRICT
$4,285,000
SPECIAL ASSESSMENT REFUNDING AND IMPROVEMENT BONDS, SERIES 2015
ARBITRAGE REBATE REQUIREMENT APRIL 30, 2019

Grau& Associates
CERTIFIED PUBLIC ACCOUNTANTS

951 Yamato Road• Suite 280 Boca Raton, Florida  33431 (561) 994-9299 • (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

October 31, 2019

Reunion West Community Development District Osceola County, Florida

Re: $4,285,000 Reunion West Community Development District (Osceola County, Florida), Special Assessment Refunding and Improvement Bonds,  Series  2015 (the "Bonds")

Reunion West Community Development District has requested that we  prepare certain computations related to the above-described Bonds for the year ended April 30, 2019 ("Computation Period"). The engagement consisted of the preparation of computations to be used to assist in the determination of the amount, if any, of the Rebate Requirement for the Bonds for the Computation Period as described  in Section 148(f) of the Internal Revenue Code of 1986, as amended ("Code").  You  have the ultimate responsibility for your compliance with arbitrage rebate laws; therefore, you should review the calculations carefully.

In order to prepare these computations, we were provided with the following information: various trust statements and the amended and restated first supplemental trust indenture for the Bonds. We did not verify or otherwise audit the accuracy of information provided to us by you or the Trustee, and accordingly, we express no opinion on such information. The attached schedules are based upon the aforementioned information provided to us. A brief description of the attached schedules is attached.

The results of our computations based on the information provided to us indicate a negative Rebate Requirement of ($156,902) for April 30, 2019. Consequently, our results indicate no amount must be on deposit in the Rebate Fund.

The Rebate Requirement has been determined as described in the Code and the Arbitrage Rebate Regulations. We have no obligation  to update  this report because of events occurring, or information coming to our attention, subsequent to the date of this report. It is understood that these calculations are solely for the information  of, and assistance to, the addressee for the purpose  of complying  with the Code and  the Arbitrage Rebate Regulations. Our report is not to be used  for  any  other purpose.
.%?-<¢V    f-
Grau & Associates

DESCRIPTION OF ATTACHED SCHEDULES

Summary of Rebate Calculations - Provides a summary of the rebate calculations.

Purpose Expenditures Future Value Report - Verifies the rebate  calculation.  The report future values the purpose expenditures by the arbitrage yield limit to the computation date (April 30, 2019).

Arbitrage Yield Limit (AYL) Verification Report - Verifies the calculation of  the  arbitrage yield limit and the arbitrage gross proceeds. Discounts the debt service schedule by the arbitrage yield limit.

True Interest Cost {TIC) Verification Report - Verifies the calculation of the  true interest cost and the gross proceeds. Discounts  the debt service  schedule  by the true interest cost.

Unspent Proceeds Report - Verifies the amount of unspent proceeds. Lists purpose expenditures in chronological order.

Internal Rate of Return (IRR) Report Via Purpose Expenditures- Verifies the internal rate of return for the investment portfolio. This report presents values the purpose expenditures by the internal rate of return to the delivery date.

Reunion West CDD
Special Assessment Refunding 8- Improvement Bonds Series 20 I 5 Summary of Rebate Calculations
$ 4,285,000.00

Dated: Delivered:

05/19/2015
05/19/2015

Anniversary Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	11/01/2015	
Future-Value Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • . . . . . . . . .	04/30/2019	
Arbitrage Yield Limit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	4.8281393	
Total of Pu,pose Expenditures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$4,123,875.00	
Internal Rate ofRetum. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	0.1416539	
90% of rebate liability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	-$141,212.20	
Full rebate liability. . , . . •. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • . . . • . . . . .	-$156,902.45	

REUNIONW-2015-A I FY: 1 I Mun-EaseElevateMainDbI 16.951EDB I11/01/2019 I 10:18 I Rpt22
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Grau & Associates CPAs

Page	1

Purpose Expenditures future Value Report	F1111m V11/:1edTo:	04/30/2019
$ 4,285,000.00

Transaction
Date	Group
ID	Fund
TD	
Description	Future Value Periods	Calculation Amt (Int. Earnings)	
Pool%	FV
Facfflr	FV
Amount	
5/19/2015	•I	cor	Beg. Arbitrage Gross Proceeds	7.8944444	-4,285,000.00	100.0000000	1.2072118	-5,172,902.63	
5/19/2015	2016		Proceeds	7.8944444	4,4[8,333.00	100.0000000	1.2072118	5,333,863.81	
5/[9/2015	20[6		CO£	7.89 44444	166,500.00	L00.0000000	1.2072[ [8	201,000.77	
5/19/2015	2016		Transferred funds	7.8944444	-4,695,000.00	100.0000000	1.2072118	-5,667,859.48	
5/19/2015	2016		Underwriter discount	7.8944444	85,700.00	100 .0000000	1.2072118	103,458.05	
5/20/2015	2016		COi	7.8888889	6,089.00	100.0000000	1.2070518	7,349.74	
5/26/2015	2016		cor	7.8555556	16,25 0.00	100.0000000	1.2060925	19,599.00	
9/2/2015	2016		Interest	7.3222222	1.00	100.0000000	l.1908456	1.19	
11/2/2015	2016		Interest	6.9888889	89,344.00	100.0000000	1.1814144	105,552.29	
11/3/2015	2016		[ntcrest	6.9833333	1.00	100.0000000	1.1812579	1.18	
11/19/2015	2016		Construction	6.8944444	3,392,229.00	!00.0000000	1.1787558	3,998,609.71	
12/ll/2015	2016		Construction	6.7722222	494,288.00	100.0000000	1.1753242	580,948.65	
1/15/2016	2016		Construction	6.5833333	2,200.00	100.0000000	1.1700404	2,574.09	
5/2/2016	2017		Interest	5.9888889	9,349.00	l 00.0000000	1.1535665	10,784.69	
ll/1/2016	2017		Reserve	4.9944444	13.00	100.0000000	1.1265243	14.64	
12/23/2016	2017		Construction	4.7055556	136,416.00	100.0000000	1.1187880	152,620.58	
5/1/2017	20[8		Reserve	3.9944444	62.00	100.0000000	1.0999703	68.20	
ll/1/2017	2018		Reserve	2.9944444	369.00	100.0000000	1.0740421	396.32	
5/1/2018	2019		Reserve	1.9944444	615.00	100.0000000	1.0487252	644.97	
11/1/2018	2019		Reserve	0.9944444	1,116.00	100.0000000	1.0240050	1,142.79	
4/30/2019	-1		Unspent Proceeds as of04/30/2019	0.0000000	165,229.00	100.0000000	1.0000000	165,229.00	
					4,104.00			-156,902.45	

	Arbitrage Yield Limit (AYL) . . . . . . . . . . . . . . .	4.8281393	
	Internal Rate of Return (IRR) . . . . . . . . . , . . . .	0.1416539	
	Future Valued To.• .• . . . . . . •. . . . . . . . . . . . . .	4/30/2019	

REUNIONW-2015-A I FY: 1 I Mun-EaseEievateMainDb I 16.95f EDB I 11/01/2019 j 10:18 I Rpt15a
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Grau & Associates CPAs

Page	1

Period	Coupon Date	Pnncipal Pqyment	Coupon Rate	lntereII
Pqyment	Cred. Enh./ Sinking Fund Adj	Periodic Debt Service	Present Value Fact(}r	Dis.ounted Debt Service	
1	11/01/2015			89,341.89		89,341.89	0.9787603	87,444.29	
2	05/01/2016	130,000.00	3.500	99,268.75		229,268.75	0.9556893	219,109.69	
3	ll/01/2016			96,993.75		96,993 .75	0.9331621	90,510.89	
4	05/01/2017	135,000.00	3.500	96,993.75		231,993.75	0.9111659	211,384.80	
5	11/01/2017			94,631.25		94,631.25	0.8896882	84,192.31	
6	05/01/2018	140,000.00	3.500	94,631.25		234,631 .25	0.8687168	203,828.11	
7	11/01/2018			92,181.25		92,181.25	0.8482397	78,191.80	
8	05/01/2019	145,000.00	3.500	92,18.1.25		237,18.1.25	0.8282453	196,444.25	
9	11/01/2019			89,643.75		89,643.75	0.8087222	72,496.89	
10	05/01/2020	150,000.00	4.250	89,643.75		239,643.75	0.7896592	189,236.90	
JI	11/01/2020			86,456.25		86,456 .25	0.7710457	66,661.72	
12	05/01/2021	155,000.00	4.250	86,456.25		241,456.25	.0.7528708	181,785.37	
13	11/01/2021			83,162.50		83,162 .50	0.7351244	61,134.78	
14	05/01/2022	160,000.00	4.250	83,162.50		243,162.50	0.7177963	174,541.15	
15	lllOl/2022			79,762.50		79,762.50	0.7008767	55,903.67	
16	05/01/2023	170,000.00	4.250	79,762.50		249,762 .50	0.6843558	170,926.42	
17	11/01/2023			76,150.00		76,150.00	0.6682244	50,885.29	
18	05/01/2024	175,000.00	4.250	76,150.00		251,150.00	0.6524733	163,868.66	
19	11/01/2024			72,431.25		72,431.25	0.6370934	46,145.47	
20	05/01/2025	185,000.00	4.250	72,431.25		257,431.25	0.6220760	160,141.81	
21	11/01/2025			68,500.00		68,500 .00	0.6074127	41,607.77	
22	05/01/2026	190,000.00	5.000	68,500.00		258,500.00	0.5930950	153,315.05	
23	11/01/2026			63,750.00		63,750.00	0.5791147	36,918.56	
24	05/01/2027	200,000.00	5.000	63,750.00		263,750.00	0.5654640	149,141.l4	
25	11/01/2027			58,750.00		58,750.00	0.5521351	32,437.94	
26	05/01/2028	210,000.00	5.000	58,750.00		268,750.00	0.5391204	144,888.60	
27	I 1/01/2028			53,500 .00		53,500.00	0.5264124	28,163.06	
28	05/01/2029	225,000.00	5.000	53,500.00		278,500.00	0.5140040	143,150.11	
29	11/01/2029			47,875.00		47,875.00	0.5018881	24,027.89	
30	05/01/2030	235,000.00	5.000	47,875.00		282,875.00	0.4900577	138,625.08	
31	11/01/2030			42,000 .00		42,000.00	0.4785062	20,097.26	
32	05/0l/2031	245,000.00	5.000	42,000.00		287,000.00	0.4672271	134,094.17	
33	11/0112031			35,875 .00		35,875.00	0.4562137	16,366.67	
34	05/01/2032	260,000.00	5.000	35,875.00		295,875.00	0.4454600	131,800.49	
35	11/01/2032			29,375.00		29,375.00	0.4349598	12,776.94	
36	05/01/2033	275,000.00	5.000	29,375.00		304,375.00	0.4247071	129,270.21	
37	11/01/2033			22,500.00		22,500.00	0.4146960	9,330.66	
38	05/01/2034	285,000.00	5.000	22,500.00		307,500.00	0.4049209	124,513.19	
39	11/01/2034			15,375.00		15,375.00	0.3953763	6,078.91	
40	05/01/2035	300,000.00	5.000	15,375.00		315,375.00	0.3860566	121,752.60	
41	11/01/2035			7,875.00		7,875.00	0.3769566	2,968.53	

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Period	Coupon Date	Principal Pqymmt	Coupon
Rate	Interest
Pqyment	Cred. Enh./ Sinking Fund Adj	Periodic
Debt Scrvice	Prerent Value Factor	Discounted Debt Service	
42	05/01/2036	315,000.00	5.000	7,875.00		322,875.00	0.36807ll	118,840.96	
		4,285,000.00		2,622,185.64	0.00	6,907,185.64		4,285,000.06	
True Interest Cost ([ IC). . . . . . .   . . •.	. .	5.0555442		Face value of bond Issue. . . . . . . . .	$4,285,000.00	
Net Interest Cost (N/C). . . . . . . . .• • . . . . . . . .	5.0159267		Accrued interest(+) . . . . . . . . . . . . .		
Arbitrage Yield Limit {AYL). . . . . . . . . •. . .	4.8281393		Original issue premium/discount(+)......	$0.00	
Arbitrage  Net Interest Cos/ (ANIC). .    •.	.	4.8571811		Bond surety fee {·). . . . . . . . . . . . . . . . . . . . .	$0.00	
			Lump-sum credit enhancements (-). . . . . . . .
Other AYL costs{-) . . . . . . . . . . . . . .
= AYL 1arge.t . . . . . . . . . . ....	$0.00

$4,285,000.00	

REUNIONW-2015-A I FY: 1 I Mun-EaseElevateMainDb I 16.951EDB I 11/0112019 I 10:211 Rpt01h
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Reunion West COD

MSRB 30/}60 SEMI 4/ 3

Special Assessment Refunding & Improvement Bonds Series 2(	FMSB011ds, In.-
T.I.C. Verification Reoort (Regular)	Dat, d:	5/19/2015
4,285,000 .00	Delit.md:	5/19/2015

Period	Coupon Date	Principal Pt91ment	Coupon
Rate	Interest Pt91ment	Credit
.Enhancement,	Periodic Debt S eroice	Pre.rent Value Factor	Diicounled Debt Service	
	11/1/2015			89,341.89		89,341.89	0.9777833	87,357.01	
2	5/1/2016	130,000.00	3.500	99,268.75		229,268.75	0.9536766	218,648.23	
3	11/1/2016			96,993.75		96,993 .75	0.9301641	90,220.11	
4	5/1/2017	135,000.00	3.500	96,993.75		231,993.75	0.9072314	210,472.01	
5	11/1/2017			94,631.25		94,631.25	0.8848640	83,735.79	
6	5/1/2018	140,000 .00	3.500	94,631.25		234,631.25	0.8630482	202,49.8.07	
7	11/1/2018			92,181.25		92,181.25	0.8417701	77,595.42	
8	5/1/2019	145,000.00	3.500	92,181.25		237,181.25	0.8210167	194,729.77	
9	11/1./2019			89,643 .75		89,643.75	0.8007749	71,784.47	
10	5/1/2020	150,000.00	4.250	89,643.75		239,643.75	0.7810322	187,169.49	
11	11/1/2020			86,456.25		86,456.25	0.7617763	65,860.32	
12	5/1/2021	155,000 .00	4.250	86,456.25		241,456 .25	0.7429950	179,400.79	
13	11/1/2021			83,162.50		83,162.50	0.7246769	60,265.94	
14	5/1/2022	16 0,000.00	4.250	83,162.50		243,162.50	0.7068103	171,869.76	
15	11/1/2022			79,762.50		79,762.50	0.689384 2	54,987.01	
16	5/1/2023	170,000 .00	4.250	79,762.50		249,762.50	0.6723878	167,937.26	
17	11/1/2023			76,150.00		76,150.00	0.6558104	49,939.96	
18	5/1/2024	175,000.00	4.250	76,150.00		251,150.00	0.6396417	160,646.02	
19	Ll/1/2024			72,431.25		72,431.25	0.6238717	45,187.81	
20	5/1/2025	185,000.00	4.250	72,431.25		257,431.25	0.6084904	156,644.45	
21	l l/1/2025			68,500.00		68,500.00	0.5934884	40,653.95	
22	5/1/2026	190,000.00	5.000	68,500.00		258,500 .00	0.5788562	149,634.33	
23	11/1/2026			63,750.00		63,750.00	0.5645848	35,992.28	
24	5/1/2027	200,000.00	5.000	63,750.00		263,750.00	0.5506652	145,237.96	
25	11/1/2027			58,750.00		58,750.00	0.5370889	31,553.97	
26	5/1/2028	210,000.00	5.000	58,750.00		268,750.00	0.5238472	140,783.93	
27	11/1/2028			53,500.00		53,500.00	0.5109320	27,334.86	
28	5/1/2029	225,000.00	5.000	53,500.00		278,500.00	0.4983352	138,786.36	
29	11/1/2029			47,875.00		47,875.00	0.4860490	23,269.60	
30	5/1/2030	235,000.00	5.000	47,875.00		282,875.00	0.4740657	134,101.34	
31	11/1/2030			42,000.00		42,000.00	0.4623779	19,419.87	
32	5/1/2031	245,000.00	5.000	42,000.00		287,000.00	0.4509782	129,430.73	
33	11/1/2031			35,875.00		35,875.00	0.4398595	15,779.96	
34	5/1/2032	260,000.00	5.000	35,875.00		295,875.00	0.4290150	126,934.81	
35	11/1/2032			29,375.00		29,375.00	0.4184378	12,291.61	
36	5/l/2033	275,000.00	5.000	29,375.00		304,375,00	0.4081214	124,221.97	
37	l l/1/2033			22,500.00		22,500.00	0.3980594	8,956.34	
38	5/1/2034	285,000.00	5.000	22,500.00		307,500.00	0.3882455	119,385.48	
39	11/1/2034			15,375.00		15,375.00	0.3786735	5,822.10	
40	5/1/2035	300,000.00	5.000	15,375.00		315,375.00	0.3693374	116,479.80	
41	ll/1/2035			7,875.00		7,875.00	0.3602316	2,836.82	
REUNIONW-2015-A I FY: 1 I Mun-EaseElevateMainOb 116 . 95! EOB I 11/01/2019I10:22 I Rpto1a
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Grau & Associates CPAs

Reunion West COD
Special Assessment Refunding g Improvement Bonds Series 2(

2
MSRB JOI J60 SEMI 4/ J
[·MSBonds, !llt

T.I.C. Verification Reoort (Regular)
4,285,000.00
Coupon	Prin.ipal	Coupon
Period	Date	Payment	Rate

Interest Payment

Credit
.Enhancements

Periodic Debt Service

Daud: D,/i,.red:
Present Value
Factor

5/19/2015

5/19/2015

Dis.ountcd Debt Seroice

42	5/1/2036	315,000.00	5.000

4,185,000.00

7,875.00	322,875 .00	0.3513503	113,442 .22

1,612,185.64	0.00	6,907,185.64	4,199,199.98

'frue Interest Cost ([IC) . . . . . . . . . . •. . . . . . . . . .
Nel lnleres/ Cost (NIC). . . . . . . . . . . . . . . . . . . . .	S.0555442 5.0159267		Face value of bond Issue. . . .
Accrued interest (+)	••	$4,285,000.00	
Arbitrage Yield Limit (AYL) . . . . . . . . .	4.8281393		Original issue premium/discount(+) ......	$0.00	

Arbitrage Net Interest Cost (ANIC)  . . .   . •.  • .•    .	4.8571811

Underwriter discount ( •) ...............
Lump-sum credit enhancements (-) . . . . . . . .
Other TIC cosis (-) ....................
Bond surety fee (·) . . . . . . . . . . . . . . . . . . . .
= TIC Target .

($85,700.00)
$0.00

NIA
$4,199,300.00

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Reunion West CDD	Dated:	05/19/2015
Special Assessment Refunding & Improvement Bonds Series 20 I 5	Delivered:	05/19/2015
Unspent Proceeds Report
$ 4,285,000.00

Cak
Dale	Grp
JD	
P11,p	Fund
ID	
Desmption	Gross
An1oiml	Pool
Percentage	Nonp11,pose Investment	Putpose Expendihm,	Unspent
Pro"ed,	
05/19/2015	-1	N	COi.	Beg. Arbitrage Gross Proceeds		100,0000000			4,285,000.00	
05/19/2015	2016	y		Proceeds	4,418,333.00	100.0000000		4,418,333.00	-133,333.00	
05/19/2015	2016	y		COi	166,500.00	I00.0000000		166,500.00	-299,833.00	
05/19/2015	2016	y		Transferred funds	-4,695,000,00	100.0000000		-4,6950, 00.00	4,395,167.00	
05/19/2015	2016	y		Underwriter discount	85,700.00	100.0000000		85,700.00	4,309,467.00	
05/20/2015	2016	y		COi	6,089.00	I00.0000000		6,089.00	4,303,378.00	
05/26/2015	2016	y		COi	16,250.00	100.0000000		16,250.00	4,287,128.00	
09/02/2015	2016	y		Interest	1.00	I 00.0000000		1.00	4,287,127.00	

11/02/2015	2016	y		
Interest	89,344.00	100.0000000		
89,344.00	4,197,783.00	
11/03/2015	2016	y		Interest	1.00	100.0000000		1.00	4,197,782.00	

11/19/2015	
2016	y		
Construction	3,392,229.00	100.0000000		3,392,229.00	805,553.00	

12/l 1/2015	2016	y		Cons1Iuction	
494,288.00	100.0000000		
494,288.00	3ll ,265.00	

01/15/2016	2016	y		Construction	2,200.00	100.0000000		2,200.00	309,065.00	

05/02/2016	2017	y		Interest	9,349.00	100.0000000		9,349.00	299,716.00	
11/01/2016	2017	y		
Reserve	13.00	I00.0000000		13.00	299,703.00	
12/23/2016	2017	
y		Construction	136,416 .00	100.0000000		136,416.00	163,287.00	
05101/2017	2018	y		
Reserve	62.00	100.0000000		62.00	163,225.00	
11/01/2017	2018	y		
Reserve	369.00	100.0000000		369.00	162,856.00	
05/01/2018	2019	
y		
Reserve	615.00	100.0000000		615.00	162,241.00	

l l/01/2018	2019	y		
Reserve	1, 116.00	100.0000000		1,116.00	161,125.00	
					4,123,875.00		0.00	4,123,875.00		

	First Investment Date. . . . . . . . . . . . . . . . . . . . . . . . .	5/19/2015		
	Calculation Date . . .. . . . . . . . . . .. . . , .....,....	4/30/2019		
	Arbitrage Yield Limil (AYL). . . . . . . . . . . . .. . . . . . .	4.8281393		
	Internal Rate of Return (IRR). . . . . . . . . . . . . . . . . .	0.1416539		

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Reunion West COD
Special Assessment Refunding 6 Improvement Bonds Series :2015
I. R. R. Report Via Purpose Expenditures
$ 4,285,000.00

Dated: Delivered:

05/19/2015
05/19/2015

Gtp	Trans
JD	Date	Fund
ID	

Dercription	Dqy Count Factor	Calculation Amt
(Interest Eamingr)	Pool Pctg	** Internal PVFa,'lor	Rate of &tum **
PVAmt	
-I 05/19/2015		Beg. Arbitrage Gross Proceeds	0.0000000	(4,285,000.00)	100.000	1.0000000	(4,285,000.00)	
2016 05119no1s		Transferred funds	0.0000000	(4,695,000.00)	100.000	1.0000000	(4,695,000.00)	
05/19/2015		Underwriter discount	0.0000000	85,700.00	100.000	1.0000000	85,700.00	
05119no15		COi	0.0000000	166,500.00	100.000	1.0000000	166,500.00	
05/19n015		Proceeds	0.0000000	4,418,333.00	100.000	1.0000000	4,418,333.00	
05/20/2015		COT	0.0055556	6,089.00	100.000	0.9999961	6,088.98	
05/26/2015		COi	0.0388889	16,250.00	100.000	0.9999725	16,249.55	
09/02/2015		Interest	0.5722222	1.00	100.000	0.9995949	1.00	
11/02/2015		Interest	0.9055556	89,344.00	100.000	0.9993591	89,286.74	
ll/03/2015		Interest	0.9Jll lll	1.00	100.000	0.9993551	1.00	
11/19/2015		Construction	1.0000000	3,392,229.00	100.000	0.9992922	3,389,828.09	
12/11/2015		Construction	l.1222222	49, 4 288.00	100.000	0.9992058	493,895.42	
01/15/2016		Construction	1.3111111	2,200.00	100.000	0.9990721	2,197.96	
2017 05/02/2016		Interest	1.9055556	9,349.00	100.000	0.9986517	9,336.40	
ll/01/2016		Reserve	2.9000000	13.00	100.000	0.9979489	12.97	
12/23/2016		Construction	3.1888889	136,416.00	100.000	0.9977448	136,108.35	
2018 05/01/2017		Reserve	3.9000000	62.00	JOO.ODO	0.9972425	61.83	
11/01/2017		Reserve	4.9000000	369.00	100.000	0.9965367	367.72	
2019 05/01/201.8		Reserve	5.9000000	615.00	100.000	0.9958314	612.44	
11/01/2018		Reserve	6.9 000000	1,116.00	100.000	0.9951266	1,110.56	
99999 04/30/2019		Unspent Proceeds as of 04/30/2019	7.8944444	165,229.00	100.000	0.9944262	164,308.04	
				4,104 .00			0.03	

Arbitrage Yield Limit . . . .. . . . . . . .. . . .
Internal Rate of Return ..............
Calculation Standard . . .. . . . . . . . . . . . .

4.8281393
0.1416539
MSRB 30/360 SEMI 4/3

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S ECTION -6

MARY JANE ARRINGTON
OSCEOLA COUNTY SUPERVISOR OF ELECTIONS

November 7, 2019

Ms. Stacie Vanderbilt Recording Secretary
Reunion West Community Development District 135 W. Central Blvd.
Suite 320
Orlando, FL 32801

Dear Ms. Vanderbilt:

Below is the revised number of registered voters within the Reunion West Community Development District. This revision is due to our office updating the COD maps within our system.

The number of registered voters within the Reunion West CDD is 240 as of November 7, 2019.

If I can be of further assistance, please contact me at 407.742.6000. Respectfully yours,
-
Mary Jane Arrington
Supervisor of Elections

•

N: 1

0 8 2019

CY:_	 _	_

2509 East Irlo Bronson Hwy.• Kissimmee, FL 34744 407.742 6000 • Fax: 407.742.6001 • www.voteosceola.com