Blackburn Creek Community Development District
3501 Quadrangle Boulevard, Suite 270, Orlando, FL 32817
Phone 407-723-5900; Fax 407-723-5901
www.blackburncreekcdd.com

The meeting of the Board of Supervisors for the Blackburn Creek Community Development District will be held Tuesday, September 9, 2025, at 11:00 a.m. located at 6853 Energy Ct, Lakewood Ranch, FL 34240. The following is the proposed agenda for this meeting.
Call in number: 1-844-621-3956	Passcode: 2538 286 6774 #

BOARD OF SUPERVISORS’ MEETING AGENDA
Organizational Matters
Call to Order
Roll Call
Public Comment Period [for any members of the public desiring to speak on any proposition before the Board]

General Business Matters
Consideration of the Minutes of the August 12, 2025, Board of Supervisors Meeting
Consideration of Resolution 2025-08, Adopting Goals, Objectives, and Performance Measures and Standards
Discussion Regarding Maintenance Agreement between the CDD and HOA
Ratification of Payment Authorization Nos. 244 & 245
Review of District Financial Statements
Other Business
Staff Reports
District Counsel
District Engineer
District Manager
District Accountant
Audience Comments
Supervisors Request
Adjournment 

Blackburn Creek Community Development District

Consideration of the Minutes of the August 12, 2025, Board of Supervisors Meeting

MINUTES OF MEETING

BLACKBURN CREEK COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS MEETING MINUTES
Tuesday, August 12, 2025, at 11:00 a.m. 6853 Energy Ct., Lakewood Ranch, FL 34240

Board Members Present via Speaker or in Person:

Kevin Johnson	Chairperson	(via phone) Kirk Fegley	Vice Chairperson
Michael Sprout	Assistant Secretary Phil Davis	Assistant Secretary James Sverapa    Assistant Secretary

Also Present via Speaker or in Person:

Venessa Ripoll	District Manager- PFM Group Consulting LLC Rick Montejano	Accountant - PFM Group Consulting LLC
Gazmin Kerr	ADM - PFM Group Consulting LLC	(via phone)	
Andy Cohen	District Counsel		
Phil	Audience Member	(via phone)	

FIRST ORDER OF BUSINESS		Organizational Matters Call to Order and Roll Call
The Board of Supervisors’ Meeting for the Blackburn Creek CDD was called to order at approximately 11:00 a.m. by Ms. Ripoll. She proceeded with roll call and confirmed quorum. Those in attendance are outlined above either in person or via speaker phone.

On MOTION by Mr. Davis, seconded by Mr. Sverapa, with all in favor, the Board approved to allow Mr. Johnson to participate and vote via phone.

Public Comment Period

There were no public comments at this time.

SECOND ORDER OF BUSINESS	General Business Matters Consideration of the Minutes of the:
July 8, 2025, Board of Supervisors’ Meeting

July 23, 2025, Board of Supervisors’ Workshop Meeting

The Board reviewed the minutes. It was noted there were no motions within the workshop. There is a recording available for the workshop. Ms. Ripoll will make changes accordingly.

On MOTION by Mr. Fegley, seconded by Mr. Sprout, with all in favor, the Board approved the Minutes of the July 8, 2025, Board of Supervisors’ Meeting, and the July 23, 2025, Board of Supervisors’ Workshop Meeting.

Public Hearing on the Adoption of the District’s Annual Budget
Public Comments and Testimony
Board Comments
Consideration of Resolution	2025-05, Adopting the Fiscal Year 2026 Budget and Appropriating Funds

On MOTION by Mr. Sprout, seconded by Mr. Sverapa, with all in favor, the Board opened the Public Hearing on the Adoption of the District’s Annual Budget.

Mr. Montejano gave an overview of the budget and noted the budget is the same overall budget that was previously approved. The O&M assessments went down.
There were no public comments. There were no Board comments.

On MOTION by Mr. Sprout, seconded by Mr. Davis, with all in favor, the Board closed the Public Hearing on the Adoption of the District’s Annual Budget.

On MOTION by Mr. Sverapa, seconded by Mr. Fegley, with all in favor, the Board approved Resolution 2025-05, Adopting the Fiscal Year 2026 Budget and Appropriating Funds.

Public Hearing on the Imposition of Special Assessments
Public Comments and Testimony
Board Comments
Consideration of Resolution 2025-06, Adopting an Assessment Roll for Fiscal Year 2026, and Certifying Special Assessments for Collection

On MOTION by Mr. Davis, seconded by Mr. Sprout, with all in favor, the Board opened the Public Hearing on the Imposition of Special Assessments.

Ms. Ripoll reviewed the assessment schedule. There were no public comments at this time. There were no Board comments at this time.

On MOTION by Mr. Fegler, seconded by Mr. Johnson, with all in favor, the Board closed the Public Hearing on the Imposition of Special Assessments.

On MOTION by Mr. Sprout, seconded by Mr. Sverapa, with all in favor, the Board approved Resolution 2025-06, Adopting an Assessment Roll for Fiscal Year 2026, and Certifying Special Assessments for Collection.

Consideration of Resolution 2025-07, Adopting the Annual Meeting Schedule for Fiscal Year 2025-2026

Ms. Ripoll reviewed the Annual Meeting schedule. She noted this will be advertised in the newspaper. This schedule will be placed on the website and sent to the HOA.
There was a recommendation to have the Town Hall during a January meeting and have another meeting with the HOA Board in March or April. Ms. Ripoll will follow up to obtain the HOA’s schedule.

On MOTION by Mr. Fegler, seconded by Mr. Johnson, with all in favor, the Board approved Resolution 2025-07, Adopting the Annual Meeting Schedule for Fiscal Year 2025-2026.

Ratification of Payment Authorization No. 242-243
Ms. Ripoll stated these are for contractual obligations. This is solely for ratification.

On MOTION by Mr. Sverapa, seconded by Mr. Sprout, with all in favor, the Board ratified Payment Authorization No. 242 - 243.

Review of District Financial Statements
Ms. Ripoll stated that the District financials were through July 2025. Mr. Montejano noted the money market account is going well.

On MOTION by Mr. Fegley, seconded by Mr. Davis, with all in favor, the Board approved the District Financials.

THIRD ORDER OF BUSINESS	Staff Reports

District Counsel –	It was noted there needs to be an agreement negotiated with the HOA for a few maintenance issues and the responsibility of maintaining those areas. Ms. Ripoll will work with District Counsel.	
District Engineer –	No report.	
District Manager –	Ms. Ripoll noted the next Board meeting is September 9, 2025, at
11:00 a.m., at the same location. This will be the last meeting of the Fiscal Year.	

FOURTH ORDER OF BUSINESS	Audience	Comments	and	Supervisor
Requests

Mr. Johnson gave an overview of the agreement that will be negotiated with the HOA. He noted the culverts that are outside of the CDD’s assets are not being maintained, and causing drainage issues. The agreement would have the CDD take over that responsibility, with reimbursement from the HOA.
There was a recommendation to have the District Engineer be hired by the HOA on a contract basis in order to fix the issues. Mr. Johnson reviewed the HOA’s process, and noted there is high turnover on their Board, which causes issues to go unresolved.

The Board discussed the work needed and the process. Mr. Cohen gave an overview of the process that will take place once the agreement is in place. It was noted that once completed, the agreement will be brought before the Board to review.

There was brief discussion regarding the payment from the HOA and their timing of fixing issues. It was noted this is beyond the expertise of the HOA.

There were no further comments or supervisor requests at this time.

FIFTH ORDER OF BUSINESS	Adjournment

There was no additional business to discuss. Ms. Ripoll requested a motion to adjourn.

ON MOTION by Mr. Davis, seconded by Mr. Sverapa, with all in favor, the August 12, 2025, Meeting of the Board of Supervisors of the Blackburn Creek Community Development District was adjourned at approximately 11:33 a.m.

Secretary/Assistant Secretary	Chair/Vice Chair

Blackburn Creek Community Development District

Consideration of Resolution 2025-08, Adopting Goals, Objectives, and Performance Measures and Standards

RESOLUTION 2025-08

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE BLACKBURN CREEK COMMUNITY DEVELOPMENT DISTRICT ADOPTING GOALS, OBJECTIVES, AND PERFORMANCE MEASURES AND STANDARDS; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Blackburn Creek Community Development District (the “District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes; and

WHEREAS, effective July 1, 2024, the Florida Legislature adopted House Bill 7013, codified as Chapter 2024-136, Laws of Florida (“HB 7013”) and creating Section 189.0694, Florida Statutes; and
WHEREAS, pursuant to HB 7013 and Section 189.0694, Florida Statutes, beginning October 1, 2025, the District shall establish goals and objectives for the District and create performance measures and standards to evaluate the District’s achievement of those goals and objectives; and
WHEREAS, the District Manager has prepared the attached goals, objectives, and performance measures and standards and presented them to the Board of the District; and

WHEREAS, the District’s Board of Supervisors (“Board”) finds that it is in the best interests of the District to adopt by resolution the attached goals, objectives and performance measures and standards.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE BLACKBURN CREEK COMMUNITY DEVELOPMENT DISTRICT:
SECTION 1. The recitals so stated are true and correct and by this reference are incorporated into and form a material part of this Resolution.
SECTION 2.  The District Board of Supervisors hereby adopts the goals, objectives and performance measures and standards as provided in Exhibit A. The District Manager shall take all actions to comply with Section 189.0694, Florida Statutes, and shall prepare an annual report regarding the District’s success or failure in achieving the adopted goals and objectives for consideration by the Board of the District.

SECTION 3.  If any provision of this resolution is held to be illegal or invalid, the other provisions shall remain in full force and effect.

SECTION 4.  This resolution shall become effective upon its passage and shall remain in effect unless rescinded or repealed.
1

PASSED AND ADOPTED this 9th day of September, 2025.

ATTEST:	BLACKBURN CREEK COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairman, Board of Supervisors

Exhibit A: Performance Measures/Standards and Annual Reporting

2

Exhibit A:
Goals, Objectives and Annual Reporting Form

Performance Measures/Standards & Annual Reporting Form
October 1, 2025 – September 30, 2026

 ​Community Communication and Engagement Goal 1.1: Public Meetings Compliance
Objective: Hold at least three regular Board of Supervisor meetings per year to conduct CDD related business and discuss community needs.
Measurement: Number of public board meetings held annually as evidenced by meeting minutes and legal advertisements.
Standard: A minimum of three board meetings were held during the Fiscal Year. Achieved: Yes  No 

Goal 1.2: Notice of Meetings Compliance
Objective: Provide public notice of each meeting at least seven days in advance, as specified in Section 190.007(1), using at least two communication methods.
Measurement: Timeliness and method of meeting notices as evidenced by posting to CDD website, publishing in local newspaper and via electronic communication.
Standard: 100% of meetings were advertised with 7 days notice per statute on at least two mediums (i.e., newspaper, CDD website, electronic communications).
Achieved: Yes  No 

Goal 1.3: Access to Records Compliance
Objective: Ensure that meeting minutes and other public records are readily available and easily accessible to the public by completing monthly CDD website checks.
Measurement: Monthly website reviews will be completed to ensure meeting minutes and other public records are up to date as evidenced by District Management’s records. Standard: 100% of monthly website checks were completed by District Management. Achieved: Yes  No 

 ​Infrastructure and Facilities Maintenance
Goal 2.1: District Infrastructure and Facilities Inspections
Objective: District Engineer will conduct an annual inspection of the District’s infrastructure and related systems.
Measurement: A minimum of one inspection completed per year as evidenced by district engineer’s report related to district’s infrastructure and related systems.
Standard: Minimum of one inspection was completed in the Fiscal Year by the district’s engineer.

Achieved: Yes  No 

 ​Financial Transparency and Accountability Goal 3.1: Annual Budget Preparation
Objective: Prepare and approve the annual proposed budget by June 15 and final budget was adopted by September 30 each year.
Measurement: Proposed budget was approved by the Board before June 15 and final budget was adopted by September 30 as evidenced by meeting minutes and budget documents listed on CDD website and/or within district records.
Standard: 100% of budget approval & adoption were completed by the statutory deadlines and posted to the CDD website.
Achieved: Yes  No 

Goal 3.2: Financial Reports
Objective: Publish to the CDD website the most recent versions of the following documents: Annual audit, current fiscal year budget with any amendments, and most recent financials within the latest agenda package.
Measurement: Annual audit, previous years’ budgets, and financials are accessible to the public as evidenced by corresponding documents on the CDD’s website.
Standard: CDD website contains 100% of the following information: Most recent annual audit, most recent adopted/amended fiscal year budget, and most recent agenda package with updated financials.
Achieved: Yes  No 

Goal 3.3: Annual Financial Audit
Objective: Conduct an annual independent financial audit per statutory requirements and publish the results to the CDD website for public inspection, and transmit to the State of Florida.
Measurement: Timeliness of audit completion and publication as evidenced by meeting minutes showing board approval and annual audit is available on the CDD’s website and transmitted to the State of Florida.
Standard: Audit was completed by an independent auditing firm per statutory requirements and results were posted to the CDD website and transmitted to the State of Florida.
Achieved: Yes  No 

Chair/Vice Chair:			Date:	 Print Name:		

District Manager:		Date:		
Print Name:			

Blackburn Creek Community Development District

Discussion Regarding Maintenance Agreement between the CDD and HOA

Blackburn Creek Community Development District

Ratification of Payment Authorization Nos. 244 & 245

BLACKBURN CREEK COMMUNITY DEVELOPMENT DISTRICT

Payment Authorization No. 244
7/30/2025

Invoice No

Supplier

Invoice Date  Property

Invoice Amount

2025.07.23	Michael Sprout (BLACKB)	07/23/2025	Blackburn Creek CDD	200.00
2025.07.23	Phil Davis (BLACKB)	07/23/2025	Blackburn Creek CDD	200.00
2025.07.23	Kirk Fegley (BLACKB)	07/23/2025	Blackburn Creek CDD	200.00
2025.07.23	Kevin Johnson (BLACKB)	07/23/2025	Blackburn Creek CDD	200.00
2025.07.23	James Sverapa (BLACKB)	07/23/2025	Blackburn Creek CDD	200.00
Total:	1,000.00

Blackburn Creek CDD
c/o PFM Group Consulting
3501 Quadrangle Boulevard, Ste. 270
Orlando, FL 32817
MontejanoR@pfm.com // (407) 723-5951

BLACKBURN CREEK COMMUNITY DEVELOPMENT DISTRICT

Payment Authorization No. 245
8/19/2025

Invoice No	Supplier	Invoice Date	Property		Invoice Amount	
2048	Brletic Dvorak Inc (BLACKB)	07/31/2025	Blackburn Creek CDD		2,910.00	
0007248844	Gannett Florida LocaliQ (BLACKB)	07/31/2025	Blackburn Creek CDD		167.00	
2025.08.12	James Sverapa (BLACKB)	08/12/2025	Blackburn Creek CDD		200.00	
2025.08.12	Kevin Johnson (BLACKB)	08/12/2025	Blackburn Creek CDD		200.00	
2025.08.12	Kirk Fegley (BLACKB)	08/12/2025	Blackburn Creek CDD		200.00	
2025.08.12	Michael Sprout (BLACKB)	08/12/2025	Blackburn Creek CDD		200.00	
6194	Persson, Cohen, Mooney, Fernan (BLACKB)	08/01/2025	Blackburn Creek CDD		380.00	
DM-08-2025-04	PFM Group Consulting (BLACKB)	08/08/2025	Blackburn Creek CDD		3,025.00	
OE-EXP-08-2025-03	PFM Group Consulting (BLACKB)	08/07/2025	Blackburn Creek CDD		14.71	
2025.08.12	Phil Davis (BLACKB)	08/12/2025	Blackburn Creek CDD		200.00	
				Total:	7,496.71	

Blackburn Creek CDD
c/o PFM Group Consulting
3501 Quadrangle Boulevard, Ste. 270
Orlando, FL 32817
MontejanoR@pfm.com // (407) 723-5951

Blackburn Creek Community Development District

Review of District Financial Statements

Blackburn Creek CDD
August 2025 Financial Package

August 31, 2025

PFM Group Consulting LLC
3501 Quadrangle Blvd
Suite 270
Orlando, FL 32817
(407) 723-5900

Blackburn Creek CDD Statement of Financial Position As of 8/31/2025

Debt Service	Debt Service	Debt Service	Debt Service	Long Term	
Fund 2019	Fund - 2015	Fund - 2018	Fund - 2023	Debt Group	

General Fund	Total

	Assets		
Current Assets
General Checking Account	
$224,279.45												
$224,279.45	
Money Market Account	249,555.31												249,555.31	
Prepaid Expenses	3,523.89												3,523.89	
Debt Service Reserve 2019A Bond			$163,410.00										163,410.00	
Revenue 2019A Bond			181,433.27										181,433.27	
Interest 2019A1 Bond			7.72										7.72	
Interest 2019A2 Bond			3.54										3.54	
Sinking Fund 2019A1 Bond			0.02										0.02	
Sinking Fund 2019A2 Bond			0.01										0.01	
Prepayment 2019A1 Bond			3,600.56										3,600.56	
Prepayment 2019A2 Bond			2,007.99										2,007.99	
Debt Service Reserve 2015A1 Bond					$225,650.00								225,650.00	
Debt Service Reserve 2015A2 Bond					81,406.25								81,406.25	
Revenue 2015A Bond					309,972.58								309,972.58	
Prepayment 2015A1 Bond					27,719.65								27,719.65	
Prepayment 2015A2 Bond					4,793.95								4,793.95	
Revenue 2018A Bond							$343,352.85						343,352.85	
Prepayment 2018A1 Bond							33,771.88						33,771.88	
Debt Service Reserve 2018A1 Bond							267,215.11						267,215.11	
Sinking Fund 2018A2 Bond							61.47						61.47	
Prepayment 2018A2 Bond							15,060.28						15,060.28	
Revenue 2023 Bond									$120,148.27				120,148.27	
Prepayment 2023 Bond									11,594.79				11,594.79	
Interest 2023 Bond									4.81				4.81	
Total Current Assets	$477,358.65		$350,463.11		$649,542.43		$659,461.59		$131,747.87		$0.00		$2,268,573.65	

Investments														
Amount Available in Debt Service Funds											$1,791,215.00		$1,791,215.00	
Amount To Be Provided											18,181,785.00		18,181,785.00	
Total Investments	$0.00		$0.00		$0.00		$0.00		$0.00		$19,973,000.00		$19,973,000.00	
Total Assets	$477,358.65		$350,463.11		$649,542.43		$659,461.59		$131,747.87		$19,973,000.00		$22,241,573.65	

Liabilities and Net Assets

Long Term Liabilities
Revenue Bonds Payable - Long-Term	$19,973,000.00

Total Long Term Liabilities	$0.00	$0.00	$0.00	$0.00	$0.00	$19,973,000.00

Total Liabilities	$0.00	$0.00	$0.00	$0.00	$0.00	$19,973,000.00

Net Assets

$19,973,000.00

$19,973,000.00

$19,973,000.00

Net Assets, Unrestricted	($2,698.24)												($2,698.24)	
Current Year Net Assets, Unrestricted	(62,712.50)												(62,712.50)	
Net Assets - General Government	296,739.86												296,739.86	
Current Year Net Assets - General Govt	246,029.53												246,029.53	
Net Assets, Unrestricted			$338,962.95										338,962.95	
Current Year Net Assets, Unrestricted			11,500.16										11,500.16	
Net Assets, Unrestricted					$626,688.17								626,688.17	
Current Year Net Assets, Unrestricted					22,854.26								22,854.26	
Net Assets, Unrestricted							$702,880.50						702,880.50	
Current Year Net Assets, Unrestricted							(43,418.91)						(43,418.91)	
Net Assets, Unrestricted									$136,128.24				136,128.24	
Current Year Net Assets, Unrestricted									(4,380.37)				(4,380.37)	
Total Net Assets	$477,358.65		$350,463.11		$649,542.43		$659,461.59		$131,747.87		$0.00		$2,268,573.65	
														
Total Liabilities and Net Assets	$477,358.65		$350,463.11		$649,542.43		$659,461.59		$131,747.87		$19,973,000.00		$22,241,573.65	

Page 1 of 4

			Blackburn Creek CDD									
			Statement of Activities									
			As of 8/31/2025									
	
General Fund		Debt Service	Debt Service
Fund 2019	Fund - 2015		Debt Service Fund - 2018		Debt Service Fund - 2023		Long Term Debt Group		
Total	

Revenues												
On-Roll Assessments	$347,517.43										$347,517.43	
Off-Roll Assessments	24,509.46										24,509.46	
On-Roll Assessments			$268,739.59								268,739.59	
Off-Roll Assessments			48,505.63								48,505.63	
On-Roll Assessments			$271,663.90								271,663.90	
Off-Roll Assessments			22,187.40								22,187.40	
Other Assessments			23,402.50								23,402.50	
On-Roll Assessments					$640,708.11						640,708.11	
Off-Roll Assessments					81,652.48						81,652.48	
Other Assessments					159,093.07						159,093.07	
On roll Assessments							$285,052.31				285,052.31	
Other Assessments			
 				11,191.37				11,191.37	
Total Revenues	$372,026.89		$317,245.22	$317,253.80		$881,453.66		$296,243.68		$0.00		$2,184,223.25	
Expenses												
Supervisor Fees	$14,000.00										$14,000.00	
Public Officials' Insurance	3,061.00										3,061.00	
Trustee Services	16,137.69										16,137.69	
Management	33,275.00										33,275.00	
Engineering	26,205.00										26,205.00	
Disclosure Agent	15,000.00										15,000.00	
District Counsel	7,959.52										7,959.52	
Assessment Administration	15,000.00										15,000.00	
Reamortization Schedules	500.00										500.00	
Audit	4,900.00										4,900.00	
Postage & Shipping	89.49										89.49	
Legal Advertising	933.25										933.25	
Bank Fees	50.00										50.00	
Web Site Maintenance	2,385.00										2,385.00	
Dues, Licenses, and Fees	175.00										175.00	
Stormwater Maintenance	62,712.50										62,712.50	
General Insurance	4,422.00										4,422.00	
Principal Payment - 2013A1, 2019A1			$60,000.00								60,000.00	
Principal Payment - 2019A2			25,000.00								25,000.00	
Interest Payments - 2013A1, 2019A1			160,767.51								160,767.51	
Interest Payments - 2019A2			73,920.00								73,920.00	
Principal Payments - 2015A1 bond			$75,000.00								75,000.00	
Principal Payments - 2015A2 bond			20,000.00								20,000.00	
Interest Payments - 2015A1 bond			165,512.50								165,512.50	
Interest Payments - 2015A2 bond			57,812.50								57,812.50	
Principal Payment - 2018A1 Bond					$338,000.00						338,000.00	
Principal Payment - 2018A2 Bond					72,000.00						72,000.00	
Interest Payment - 2018A1 Bond					459,909.26						459,909.26	
Interest Payment - 2018A2 Bond					81,877.25						81,877.25	
Principal Payments S2023							$136,000.00				136,000.00	
Interest Payment - S2023			
 				171,045.60				171,045.60	
Total Expenses	$206,805.45		$319,687.51	$318,325.00		$951,786.51		$307,045.60		$0.00		$2,103,650.07	
Other Revenues (Expenses) & Gains (Losses)												
Interest Income	$18,095.59										$18,095.59	
Interest Income			$13,942.45								13,942.45	
Interest Income			$23,925.46								23,925.46	
Interest Income					$26,913.94						26,913.94	
Interest income			
 				$6,421.55				6,421.55	
Total Other Revenues (Expenses) & Gains (Losses)	$18,095.59		$13,942.45	$23,925.46		$26,913.94		$6,421.55		$0.00		$89,298.99	
Change In Net Assets	$183,317.03		$11,500.16	$22,854.26		($43,418.91)		($4,380.37)		$0.00		$169,872.17	

Net Assets At Beginning Of Year	$294,041.62		$338,962.95	$626,688.17		$702,880.50		$136,128.24		$0.00		$2,098,701.48	

Net Assets At End Of Year	

$477,358.65		 

$350,463.11	$649,542.43		

$659,461.59		

$131,747.87		

$0.00		

$2,268,573.65	

Page 2 of 4

Blackburn Creek CDD
Budget to Actual
For The Month Ending 8/31/2025

Year To Date
FY 2025
Actual	Budget	Variance	Adopted	Percentage
Budget

Revenues

On/Off Roll Assessments	$	372,026.89		$	339,166.63		$	32,860.26		$	370,000.00		100.55%	
Carry Forward Revenue	85,770.41		85,770.41		-		93,567.66		91.67%	
Net Revenues	$	457,797.30		$	424,937.04		$	32,860.26		$	463,567.66		98.76%	
General & Administrative Expenses

Supervisor Fees	$	14,000.00		$	11,000.00		$	3,000.00		$	12,000.00		116.67%	
Public Officials' Insurance	3,061.00		3,025.00		36.00		3,300.00		92.76%	
Trustee Services	16,137.69		14,666.63		1,471.06		16,000.00		100.86%	
Management	33,275.00		33,275.00		-		36,300.00		91.67%	
Engineering	26,205.00		11,000.00		15,205.00		12,000.00		218.38%	
Disclosure Agent	15,000.00		13,750.00		1,250.00		15,000.00		100.00%	
District Counsel	7,959.52		18,333.37		(10,373.85)		20,000.00		39.80%	
Assessment Administration	15,000.00		13,750.00		1,250.00		15,000.00		100.00%	
Reamortization Schedules	500.00		916.63		(416.63)		1,000.00		50.00%	
Audit	4,900.00		5,041.63		(141.63)		5,500.00		89.09%	
Arbitrage Calculation	-		916.63		(916.63)		1,000.00		0.00%	
Postage & Shipping	89.49		412.50		(323.01)		450.00		19.89%	
Legal Advertising	933.25		3,208.37		(2,275.12)		3,500.00		26.66%	
Bank Fees	50.00		229.13		(179.13)		250.00		20.00%	
Miscellaneous	-		183.37		(183.37)		200.00		0.00%	
Office Supplies	-		229.13		(229.13)		250.00		0.00%	
Web Site Maintenance	2,385.00		2,585.00		(200.00)		2,820.00		84.57%	
Dues, Licenses, and Fees	175.00		160.38		14.62		175.00		100.00%	
Stormwater Reserve	-		196,553.28		(196,553.28)		214,421.70		0.00%	
Stormwater Maintenance	62,712.50		63,974.79		(1,262.29)		69,790.67		89.86%	
General Insurance	4,422.00		4,308.37		113.63		4,700.00		94.09%	
Hardscape Maintenance	-		27,417.83		(27,417.83)		29,910.29		0.00%	
Total General & Administrative Expenses	$	206,805.45		$	424,937.04		$  (218,131.59)		$	463,567.66		44.61%	

Total Expenses	 $	206,805.45	 $		424,937.04	 $ (218,131.59)	 $		463,567.66 Income (Loss) from Operations		$	250,991.85		$		-		$	250,991.85		$		-
Other Income (Expense)

Interest Income	$	18,095.59		$	-	$	18,095.59		$	-	
Total Other Income (Expense)	$	18,095.59		 
$	-	$	18,095.59		$	-	
Net Income (Loss)	$	269,087.44		 
$	-	$	269,087.44		$	-	

Page 3 of 4

Blackburn Creek CDD	
Outstanding Bonds	
As of August 31, 2025	
			Bond	Issuance
Date	Maturity
Date	Initial	Balance	Paid	To	Date	Principal
Outstanding	Interest	GP Phase
Lots	
	2015A-1	CUSIP:	09228KAB8	5/1/2015	5/1/2035		1,575,000		695,000	880,000	6.25%	560-662,
953-1248	
	2015A-1	CUSIP:	09228KAC6	5/1/2015	5/1/2045		1,945,000		310,000	1,635,000	6.50%		
	2015A-2	CUSIP:	09228KAD4	5/1/2015	5/1/2045		5,245,000		4,340,000	905,000	6.25%		
			2015	Bond				8,765,000		5,345,000	3,420,000			
	2018A-1	CUSIP:	09228KAE2	5/1/2018	5/1/2028		1,660,000		1,136,000	524,000	5.25%	
1249-1683,
1717-1841	
	2018A-1	CUSIP:	09228KAF9	5/1/2018	5/1/2038		2,890,000		339,000	2,551,000	5.75%		
	2018A-1	CUSIP:	09228KAG7	5/1/2018	5/1/2048		5,165,000		597,000	4,568,000	5.90%		
	2018A-2	CUSIP:	09228KAH5	5/1/2018	5/1/2048		2,880,000		1,558,000	1,322,000	5.90%		
			2018	Bond			12,595,000		3,630,000	8,965,000			
	2019A-1	CUSIP:	09228KAJ1	5/1/2019	5/1/2029		595,000		335,000	260,000	4.75%	
663-849,
1842-1897	
	2019A-1	CUSIP:	09228KAK8	5/1/2019	5/1/2039		985,000		30,000	955,000	5.45%		
	2019A-1	CUSIP:	09228KAL6	5/1/2019	5/1/2049		1,715,000		45,000	1,670,000	5.60%		
	2019A-2	CUSIP:	09228KAM4	5/1/2019	5/1/2049		1,445,000		150,000	1,295,000	5.60%		
			2019	Bond				4,740,000		560,000	4,180,000			
	2023	CUSIP:	09227DAC3	5/1/2023	5/1/2043		3,665,000		257,000	3,408,000	4.84%	1-559	
			2023	Bond				3,665,000		257,000	3,408,000			
			2013*	3/28/2013	----		5,455,000				-	6.00%		
TOTALS							29,765,000	9,792,000	19,973,000			

*	
Refinanced													

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