MINUTES OF MEETING 

PRESTON COVE 

COMMUNITY DEVELOPMENT DISTRICT 

 

 The regular meeting of the Board of Supervisors of the Preston Cove Community 
Development District was held Thursday, April 27, 2023 at 9:00 a.m. at 8 Broadway, Suite 104, 
Kissimmee, Florida. 

 

 Present and constituting a quorum were: 

 

 Shaman Foradi Chairperson 

 Owais Khanani by phone Vice Chairperson 

 Jeff Garno Assistant Secretary 

 Maria Rust Assistant Secretary 

 

 

 Also present were: 

 

 George Flint District Manager 

 Jay Lazarovich District Counsel 

 Pete Glasscock District Engineer 

 

 

 

FIRST ORDER OF BUSINESS Roll Call 

 Mr. Flint called the meeting to order. Three Board members were present in person 
constituting a quorum. 

 

SECOND ORDER OF BUSINESS Public Comment Period 

 There were no members of the public present for the meeting. 

 

THIRD ORDER OF BUSINESS Approval of Minutes of the March 23, 
2023 Board of Supervisors Meeting 

Mr. Flint presented the March 23, 2023 Board of Supervisor and Audit Committee meeting 
minutes and asked for any comments or corrections. The Board had no changes to the minutes. 

 

On MOTION by Mr. Foradi, seconded by Mr. Garno, with all in 
favor, the Minutes of the March 23, 2023 Board of Supervisors 
Meeting, were approved, as presented. 


 

FOURTH ORDER OF BUSINESS Consideration of Resolution 2023-04 
Approving the Proposed Fiscal Year 2024 
Budget and Setting a Public Hearing 

 Mr. Flint stated that this resolution approves a proposed budget and sits a public hearing 
for its final adoption. The CDD is required to approve a proposed budget by June 30th of each year. 
The final budget would be considered at the public hearing. He stated that the budget can be 
changed as long as the proposed assessment levels are not going up as that would require some 
additional mailed notices, etc. but they can adjust the budget and reduce the per unit amount 
between now and the public hearing. He stated the July 27th meeting is recommended for the 
hearing in this location at 9:00 a.m. 

 Mr. Flint noted that attached to the resolution is exhibit ‘A’ and this is the build out budget 
that they have been working with and now that the development has progressed, they will want to 
review this between now and the public hearing to make sure it does not need to be refined. He 
noted a portion of it is platted so it would be on the roll and a portion is unplatted so there is a total 
of 603 units either on roll or off roll. Depending on the development and timing of the second 
portion of the project, they may not want to assess the second part and may want to do that through 
a developer funding agreement. He noted the benefit of the funding agreement is they would only 
be paying the actual cost but if they direct assessed based on the build out budget then they would 
be assessed the amount based on the budget. He noted that is something that can be talked about 
between now and the public hearing. He stated that there is still flexibility to do all of that at this 
point and asked for any questions on the proposed budget. Mr. Khanani asked when the public 
hearing will be. Mr. Flint answered July 27th which is the regular July meeting. He noted there will 
be some communication between now and then on the timing of the assessments on the balance of 
your project. 

 

On MOTION by Mr. Garno, seconded by Ms. Rust, with all in favor, 
Resolution 2023-04 Approving the Proposed Fiscal Year 2024 Budget 
and Setting a Public Hearing for July 27, 2023 at 9:00 a.m., was 
approved. 

 

FIFTH ORDER OF BUSINESS Staff Reports 

A. Attorney 



 Mr. Lazarovich stated that the District was served with a lawsuit from John M. Hall 
Company so they are currently reviewing that with their litigation department and going over their 
strategy. He noted aside from that, they are still working on the lift issue conveyance and will get 
with the engineer to get an evaluation of the land and then they should be able to wrap that up. 

 

B. Engineer 


Mr. Glasscock had nothing to report to the Board. 

 

C. District Manager’s Report 
i. Balance Sheet and Income Statement 






 Mr. Flint presented the unaudited financials through March 31st. There is no action required 
by the Board. We are still operating under a funding agreement. He noted as of the end of March, 
there was $1,601 remaining in the capital project account so they will want to submit a requisition 
to draw the balance of that down but basically that construction acquisition account is depleted at 
this point. 

 

ii. Ratification of Funding Request #24 






 Mr. Flint stated that this was submitted to the developer under the Developer Funding 
Agreement. There is a credit on here as there was an invoice labeled as being Preston Cove but 
actually it ended up being for a different development so there is a credit of $3,150 on this funding 
request. He noted that there are Trustee fees which are annual fees for the Trustee. 

 

On MOTION by Mr. Garno, seconded by Mr. Foradi, with all in favor, 
Funding Request #24, was ratified. 

 

SIXTH ORDER OF BUSINESS Other Business 

 There being no comments, the next item followed. 

 

SEVENTH ORDER OF BUSINESS Supervisors Requests 

 There being no comments, the next item followed. 

 

EIGHTH ORDER OF BUSINESS Adjournment 

 Mr. Flint adjourned the meeting. 


 

On MOTION by Mr. Garno, seconded by Mr. Foradi, with all in 
favor, the meeting was adjourned at 9:08 a.m. Signature - George Flint
Signature - Shaman Foradi


 

 

 

 

Secretary/Assistant Secretary Chairman/Vice Chairman