BANYAN CAY COMMUNITY DEVELOPMENT
DISTRICT

PALM BEACH COUNTY REGULAR BOARD MEETING & PUBLIC HEARING
JUNE 21, 2022
2:00 P.M.

Special District Services, Inc.
2501A Burns Road
Palm Beach Gardens, FL 33410

www.banyancaycdd.org 561.630.4922 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA BANYAN CAY
COMMUNITY DEVELOPMENT DISTRICT
Conference Room of Special District Services, Inc.
2501A Burns Road
Palm Beach Gardens, Florida 33410
REGULAR BOARD MEETING & PUBLIC HEARING
June 21, 2022
2:00 P.M.

Call to Order
Proof of Publication…	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
April 19, 2022 Regular Board Meeting Minutes…	Page 2
Public Hearing
Proof of Publication…	Page 5
Receive Public Comments on Fiscal Year 2022/2023 Final Budget
Consider Resolution No. 2022-02 – Adopting a Fiscal Year 2022/2023 Final Budget…	Page 6
Old Business
New Business
Consider Resolution No. 2022-03 – Adopting a Fiscal Year 2022/2023 Meeting Schedule…	Page 13
Administrative Matters
Board Members Comments
Adjourn

Page 1

BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
APRIL 19, 2022

CALL TO ORDER

The April 19, 2022, Regular Board Meeting of the Banyan Cay Community Development District (the “District”) was called to order at 2:12 p.m. in the Conference Room of Special District Services, Inc., located at 2501A Burns Road, Palm Beach Gardens, Florida 33410.

PROOF OF PUBLICATION

Proof of publication was presented which showed that notice of the Regular Board Meeting had been published in The Palm Beach Post on October 6, 2021, as part of the District’s Fiscal Year 2021/2022 Meeting Schedule, as legally required.

ESTABLISH A QUORUM

A quorum was established with the following Supervisors in attendance:

Chairperson	Alicia Lewis	Present	
Vice-Chair	Charlie Rimpela	Present	
Supervisor	Matthew Kutner	Present	
Supervisor	Vacant		
Supervisor	David Kohlasch	Present	

Also in virtual attendance were:

District Manager	Jason Pierman	Special District Services, Inc.	
District Counsel	Bill Capko (via phone)	Lewis Longman & Walker, P.A.	

Mr. Pierman noted that Mr. Kutner and Mr. Kohlasch had both been sworn in prior to the beginning of the meeting.

ADDITIONS OR DELETIONS TO AGENDA

There were no additions or deletions to the agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

There were no comments from the public for items not on the agenda.

APPROVAL OF MINUTES
November 16, 2021, Regular Board Meeting

The minutes of the November 16, 2021, Regular Board Meeting were presented for consideration.

A motion was made by Mr. Rimpela, seconded by Ms. Lewis and passed unanimously approving the minutes of the November 16, 2021, Regular Board Meeting, as presented.

OLD BUSINESS

There were no Old Business items to come before the Board.

NEW BUSINESS
Consider Resolution No. 2022-01 – Adopting a Fiscal Year 2022/2023 Proposed Budget
Resolution No. 2022-01 was presented, entitled:

RESOLUTION 2022-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2022/2023 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW AND PROVIDING FOR AN EFFECTIVE DATE.

A motion was made by Mr. Rimpela, seconded by Mr. Kutner and passed unanimously adopting Resolution No. 2022-01, as presented, setting the Public Hearing for June 21, 2022.

Consider Stormwater and Wastewater 20-Year Needs Analysis Proposal

Mr. Pierman explained that the State had mandated that every District create a 20-Year Stormwater Report by June 30, 2022. He presented the proposal to create the report from Engenuity Group for a not-to-exceed amount of $8,500.

A motion was made by Mr. Rimpela, seconded by Mr. Lewis and passed unanimously approving the proposal from Engenuity Group for the preparation of a 20-Year Stormwater Report for an amount not to exceed $8,500, as presented.

ADMINISTRATIVE MATTERS

Mr. Pierman reminded the Board to submit their 2021 Form 1 by the July 1, 2022, deadline.

BOARD MEMBER COMMENTS

There were no comments from the Board Members.

ADJOURNMENT

There being no further business to come before the Board, a motion was made by Mr. Rimpela, seconded by Ms. Lewis and passed unanimously to adjourn the meeting at 2:21 p.m.

ATTESTED BY:

Secretary/Assistant Secretary	Chairperson/Vice-Chair

RESOLUTION NO. 2022-02

A RESOLUTION OF THE BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT ADOPTING A FISCAL YEAR 2022/2023 BUDGET.

WHEREAS, the Banyan Cay Community Development District (“District”) has prepared a Proposed Budget and Final Special Assessment Roll for Fiscal Year 2022/2023 and has held a duly advertised Public Hearing to receive public comments on the Proposed Budget and Final Special Assessment Roll; and,

WHEREAS, following the Public Hearing and the adoption of the Proposed Budget and Final Assessment Roll, the District is now authorized to levy non ad-valorem assessments upon the properties within the District.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT THAT:

Section 1.	The Final Budget and Final Special Assessment Roll for Fiscal Year 2022/2023 attached hereto as Exhibit “A” is approved and adopted, and the assessments set forth therein shall be levied.

Section 2.	The Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with the intent of this Resolution.

PASSED, ADOPTED and EFFECTIVE this 21st day of June, 2022.

ATTEST:	BANYAN CAY
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

Banyan Cay Community Development District

Final Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023
BUDGET	
O&M Assessments	91 026	
Deve oper Contr but on	0	
Debt Assessments	 25 532	
 nterest ncome	60	
		
TOTAL REVENUES	$	516,618	
		
EXPENDITURES		
Superv sor Fees	0	
 n neer n / nspect ons	 000	
Mana ement	2 720	
 e a 	22 000	
Assessment Ro 	5 000	
Aud t Fees	 500	
Arb tra e Rebate Fee	650	
 nsurance	6 06 	
 e a Advert sements	1 00	
M sce aneous	2 000	
Posta e	 00	
Off ce Supp es	750	
Dues & Subscr pt ons	175	
Trustee Fees	 150	
Cont nu n D sc osure Fee	1 000	
Webs te Mana ement	2 000	
Reserve	2 16	
TOTAL EXPENDITURES	$	85,625	
		
REVENUES LESS EXPENDITURES	$	430,993	
		
Bond Payments	( 00 000)	
		
BALANCE	$	30,993	
		
County Appra ser & Tax Co ector Fee	(10 331)	
D scounts For ar y Payments	(20 662)	
		
EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2020/2021 ACTUAL	
FISCAL YEAR 2021/2022 BUDGET	
FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	
O&M Assessments	0	91 026	91 026	 xpend tures ess nterest /.9 	
Deve oper Contr but on	121 70	0	0	Deve oper Contr but on	
Debt Assessments	0	 25 532	 25 532	Bond Payments/.9 	
 nterest ncome	1 	60	60	Pro ected At 5.00 Per Mont 	
					
TOTAL REVENUES	$	121,884	$	516,618	$	516,618		
					
EXPENDITURES					
Superv sor Fees	0	0	0		
 n neer n / nspect ons	16 017	 000	 000	 o C an e From 2021/2022 Bud et	
Mana ement	2 000	2 000	2 720	CP ncrease (Capped At 3 )	
 e a 	 1  0	2 000	22 000	F 21/22 xpend tures T rou  an 2022 Were 1 63 	
Assessment Ro 	5 000	5 000	5 000	As Per Contract	
Aud t Fees	3 200	3 300	 500	 ncreased Due To Bond ssue	
Arb tra e Rebate Fee	0	650	650	 o C an e From 2021/2022 Bud et	
 nsurance	5 513	6 06 	6 06 	 nsurance st mate	
 e a Advert sements	636	1 500	1 00	 100 Decrease From 2021/2022 Bud et	
M sce aneous	751	2 000	2 000	 o C an e From 2021/2022 Bud et	
Posta e	17 	 00	 00	 o C an e From 2021/2022 Bud et	
Off ce Supp es	110	 00	750	 50 Decrease From 2021/2022 Bud et	
Dues & Subscr pt ons	175	175	175	 o C an e From 2021/2022 Bud et	
Trustee Fees	 1 0	 150	 150	 o C an e From 2021/2022 Bud et	
Cont nu n D sc osure Fee	500	1 000	1 000	 o C an e From 2021/2022 Bud et	
Webs te Mana ement	2 000	2 000	2 000	 o C an e From 2021/2022 Bud et	
Reserve	11 000	2 5 6	2 16	Reserve	
TOTAL EXPENDITURES	$	115,060	$	85,625	$	85,625		
					
REVENUES LESS EXPENDITURES	$	6,824	$	430,993	$	430,993		
					
Bond Payments	0	( 00 000)	( 00 000)	2023 P & Payments ess arned nterest	
					
BALANCE	$	6,824	$	30,993	$	30,993		
					
County Appra ser & Tax Co ector Fee	0	(10 331)	(10 331)		
D scounts For ar y Payments	0	(20 662)	(20 662)		
					
EXCESS/ (SHORTFALL)	$	6,824	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021 ACTUAL	FISCAL YEAR 2021/2022 BUDGET	FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	

 nterest ncome	
21	
25	
25	
Pro ected nterest For 2022/2023	

Cap ta zed nterest	
23 726	
0	
0	

Cap ta zed nterest Set-up T ou  ovember 2021	

 A Tax Co ect on	
0	
 00 000	
 00 000	
Max mum Debt Serv ce Co ect on	

Total Revenues	
$	234,747	
$	400,025	
$	400,025		

EXPENDITURES					

Pr nc pa Payments	
0	
130 000	
130 000	
Pr nc pa Payment Due n 2023	

 nterest Payments	
100 170	
269 113	
265 53 	
 nterest Payments Due n 2023	

Bond Redempt on	
0	
912	
  7	
 st mated xcess Debt Co ect ons	

Total Expenditures	
$	100,170	
$	400,025	
$	400,025		

Excess/ (Shortfall)	
$	134,577	
$	-	
$	-		

Series 2020 Bond Information

Or na Par Amount =	 6 95 000	Annua Pr nc pa Payments Due =	 ovember 1st	
 nterest Rate =	2.75  - .00 	Annua nterest Payments Due =	May 1st & ovember 1st	
 ssue Date =	December 2020			
Matur ty Date =

Par Amount As Of 1/1/22 =	 ovember 2051

 6 95 000			

Banyan Cay Community Development District Assessment Comparison

Or na Pro ected
	Assessment*		F sca ear 2020/2021
	Assessment*		F sca ear 2021/2022
	Assessment*		Fiscal Year 2022/2023
	Projected Assessment*		

O & M For state omes	
	-	
	-	
	370.03	
$	370 03	
Debt For state omes		1 7 9.00		- 		1 7 9.13	$	1,789 13	
Total For Estate Homes	$	1,789 00	$	-	$	2,159 16	$	2,159 16	

O & M For ote Room/ n ts	
	-	
	-	
	370.03	
$	370 03	
Debt For ote Room/ n ts		1 7 9.00		- 		1 7 9.13	$	1,789 13	
Total For Hotel	$	1,789 00	$	-	$	2,159 16	$	2,159 16	

O & M For Resort  as	
	-	
	-	
	370.03	
$	370 03	
Debt For Resort  as		1 31.00		- 		1 31.30	$	1,431 30	
Total For Resort Villas	$	1,431 00	$	-	$	1,801 33	$	1,801 33	

O & M For C ub ouse Component	
 	
-	
 	
-	
 	
 1 0.66	
$	
8,140 66	
Debt For C ub ouse Component		32 639.00		- 		32 639.00	$	32,639 00	
Total For Clu house Component	$	32,639 00	$	-	$	40,779 66	$	40,779 66	

* Assessments nc ude t e Fo ow n 		
  D scount for ar y Payments 1 County Tax Co ector Fee
1 County Property Appra ser Fee		
Commun ty nformat on - P ase One 		
 state omes	52	
 ote  n ts/Room	150	
Resort  as	22	
C ub ouse Component	22	
Tota n ts	2 6	
C ub ouse Component s 1 2 3 Square Feet		

RESOLUTION NO. 2022-03

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2022/2023 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, it is necessary for the Banyan Cay Community Development District ("District") to establish a regular meeting schedule for fiscal year 2022/2023; and

WHEREAS, the Board of Supervisors of the District has set a regular meeting schedule, location and time for District meetings for fiscal year 2022/2023 which is attached hereto and made a part hereof as Exhibit “A”.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:

Section 1.   The above recitals are hereby adopted.

Section 2.  The regular meeting schedule, time and location for meetings for fiscal year 2022/2023 which is attached hereto as Exhibit “A” is hereby adopted and authorized to be published.

PASSED, ADOPTED and EFFECTIVE this 21st day of June, 2022.

ATTEST:	BANYAN CAY
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023 REGULAR MEETING SCHEDULE

NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Banyan Cay Community Development District will hold Regular Board Meetings in the Conference Room of Special District Services, Inc. located 2501A Burns Road, Palm Beach Gardens, Florida 33410 at 2:00 p.m. on the following dates:

October 18, 2021
November 15, 2021
December 13, 2021
January 17, 2022
February 21, 2022
March 21, 2022
April 18, 2022
May 16, 2022
June 20, 2022
July 18, 2022
August 15, 2022
September 19, 2022

The purpose of the meetings is to conduct any business coming before the Board. Meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Copies of the Agendas for any of the meetings may be obtained from the District’s website or by contacting the District Manager at 561-630-4922 and/or toll free at 1-877-737-4922 five (5) days prior to the date of the particular meeting.

From time to time one or two Supervisors may participate by telephone; therefore, a speaker telephone will be present at the meeting location so that Supervisors may be fully informed of the discussions taking place. Said meeting(s) may be continued as found necessary to a time and place specified on the record.

If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to ensure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.

In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at any of these meetings should contact the District Manager at 561-630-4922 and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.

Meetings may be cancelled from time to time without advertised notice.

BANYAN CAY COMMUNITY DEVELOPMENT DISTRICT

www.banyancaycdd.org

PUBLISH: PALM BEACH DAILY BUSINESS REVIEW