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, March 10, 2026, 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 February 10, 2026, Board of Supervisors Meeting
Update on Grand Palm Master Proposals:
Transfer Southwest Florida Water Management District Permits to Master HOA
Discussion to Manage and Maintain on a Fee Basis all HOA Stormwater Components and Permit Inspections/Reporting
Discussion of Potential Town Hall Meeting
Ratification of Payment Authorization Nos. 255-257
Review of District Financial Statements
Other Business
Staff Reports
District Counsel
District Engineer
-	Bank Repair and Eroded Weir Proposals
District Manager
Next Meeting April14, 2026
District Accountant
Audience Comments
Supervisors Request
Adjournment 

Blackburn Creek Community Development District

Consideration of the Minutes of the February 10, 2026, Board of Supervisors Meeting

MINUTES OF MEETING

BLACKBURN CREEK COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS MEETING MINUTES
Tuesday, February 10, 2026, at 11:00 a.m. 6853 Energy Ct., Lakewood Ranch, FL 34240

Board Members Present via Speaker or in Person:

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

Also Present via Speaker or in Person:

Venessa Ripoll	District Manager- PFM Group Consulting LLC
Gazmin Kerr	ADM – PFM Group Consulting LLC	(via phone)	
Rick Montejano	Accountant - PFM Group Consulting LLC	(via phone)	
Andy Cohen	District Counsel		
Robert Dvorak	District Engineer - BDI	(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. Sprout, seconded by Mr. Sverapa, with all in favor, the Board approved to allow Mr. Johnson to vote by phone.

Public Comment Period
There were no members of the public present.

SECOND ORDER OF BUSINESS	General Business Matters
Consideration of the Minutes of the January 13, 2026, Board of Supervisors’ Meeting

The Board reviewed the minutes.

It was noted the Officer titles need to be updated on the minutes. Ms. Ripoll will correct as requested.
There was brief discussion regarding the agreement between BDI and Neighborhood 1. It was noted the project that BDI does is related to roads, not stormwater.

On MOTION by Mr. Fegley, seconded by Mr. Davis, with all in favor, the Board approved the Minutes of the January 13, 2026, Board of Supervisors’ Meeting, with requested changes.

Update on Grand Palm Master Proposals:
Transfer Southwest Florida Water Management District Permits to Master HOA
Discussion to Manage and Maintain on a Fee Basis all HOA Stormwater Components and Permit Inspections/Reporting
There was no update at this time regarding the permits.
Mr. Cohen noted the requested letter has been sent to the Master HOA, but no response has been received.

There was brief discussion regarding resident ARC issues that were directed at Mr. Johnson. Mr. Dvorak will notify Kirk of the change of Chairperson.
Mr. Sprout will follow up.

Discussion	of	Potential Town Hall Meeting
There was brief discussion regarding timing of the Town Hall.

Mr. Sprout recommended giving the Master HOA tentative items to complete. A recommended item was the weir that is off Stuart Drive, as it is not in compliance with the elevation plan. It was noted that weir would not be an issue to pursue as it is not a large issue.

Mr. Dvorak gave an overview of the weir issue. It was noted this is an HOA responsibility regardless of the level of issue.
Mr. Johnson recommended waiting on the inspection report.

There was continued discussion regarding notifying the HOA of issues. Mr. Dvorak noted there will be proposals included with the inspection report. This report will be paid for by the CDD.

This item will remain on the agenda.

Review and Acceptance of the Series 2015A-1 and Series A-2 (Grand Palm Project) Arbitrage Rebate Report as of 10/26/2020
Ms. Ripoll noted this is a District requirement for auditing purposes.

Review and Acceptance of the Series 2015A-1 and Series A-2 (Grand Palm Project) Arbitrage Rebate Report as of 10/26/2025
Ms. Ripoll noted this is a District requirement for auditing purposes.

On MOTION by Mr. Fegley, seconded by Mr. Sprout, with all in favor, the Board accepted the Series 2015A-1 and Series A-2 (Grand Palm Project) Arbitrage Rebate Report as of 10/26/2020 and 10/26/25.

Ratification	of	Payment Authorization Nos. 254
Ms. Ripoll stated these are for contractual obligations and solely for ratification.

On MOTION by Mr. Sverapa, seconded by Mr. Davis, with all in favor, the Board ratified Payment Authorization Nos. 254.

Review of District Financial Statements
Ms. Ripoll stated that the District financials are updated through December 2025. The Board reviewed the financial statements.
There was brief discussion regarding the District’s insurance and the possibility of a re-buy.

It was noted all the Supervisors have received their 1099’s.

Mr. Montejano noted that $50,000.00 was moved into the money market account.

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

THIRD ORDER OF BUSINESS	Staff Reports
District Counsel –	No report.

District Engineer –
Bank Repair and Eroded Weir Proposals
Review of Master District Plot Drawing and Assets document(s)
Mr. Dvorak gave a map update. He noted the pond numbers, wetland numbers, and drainage systems have been added to the map.

There was brief discussion regarding the map distinction between HOA and CDD. This included discussion on what areas were paid for by the bonds.
There was also discussion regarding flood insurance and flooding.

There was further discussion regarding additions to the map. Once completed, the map will be distributed to the Board and posted on the District’s website.

District Manager –	Ms. Ripoll noted the next Board meeting is March 10, 2026, at 11:00
a.m., at the current location. It was noted the Form 1 is due prior to December 31st.

There was brief discussion regarding quorum at the next meeting.

FOURTH ORDER OF BUSINESS	Audience	Comments	and Supervisor Requests

There were no 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. Fegley, seconded by Mr. Davis, with all in favor, the February 10, 2026, Meeting of the Board of Supervisors of the Blackburn Creek Community Development District was adjourned at approximately 11:38 a.m.

Secretary/Assistant Secretary	Chair/Vice Chair

Blackburn Creek Community Development District

Update on Grand Palm Master Proposals: a.Transfer Southwest Florida Water
Management District Permits to Master HOA b.Discussion to Manage and Maintain on a Fee Basis all HOA Stormwater Components and
Permit Inspections/Reporting

Blackburn Creek Community Development District

Discussion of Potential Town Hall Meeting

Blackburn Creek Community Development District

Ratification of Payment Authorizations Nos. 255 – 257

BLACKBURN CREEK COMMUNITY DEVELOPMENT DISTRICT

Payment Authorization No. 255
1/14/2026

Invoice No

Supplier

Invoice Date  Property

Invoice Amount

2026.01.13	Kevin Johnson (BLACKB)	01/13/2026	Blackburn Creek CDD	200.00

2026.01.13

Michael Sprout (BLACKB)

01/13/2026	Blackburn Creek CDD

200.00

OE-EXP-01-2026-03	PFM Group Consulting (BLACKB)	01/06/2026	Blackburn Creek CDD	7.46

2026.01.13	Kirk Fegley (BLACKB)	01/13/2026	Blackburn Creek CDD	200.00

2026.01.13	Phil Davis (BLACKB)	01/13/2026	Blackburn Creek CDD	200.00
Total:	807.46

BLACKBURN CREEK COMMUNITY DEVELOPMENT DISTRICT
Payment Authorization No. 256
1/21/2026

Invoice No

Supplier

Invoice Date  Property

Invoice Amount

7774	GNP Services, CPA, PA (BLACKB)	01/02/2026	Blackburn Creek CDD	3,500.00

7775	GNP Services, CPA, PA (BLACKB)	01/02/2026	Blackburn Creek CDD	2,500.00

DM-01-2026-04	PFM Group Consulting (BLACKB)	01/05/2026	Blackburn Creek CDD	3,327.50
Total:	9,327.50

BLACKBURN CREEK COMMUNITY DEVELOPMENT DISTRICT

Payment Authorization No. 257
1/28/2026

Invoice No

Supplier

Invoice Date  Property

Invoice Amount

8101	VGlobalTech (BLACKB)	01/01/2026	Blackburn Creek CDD	145.00
Total:	145.00

Blackburn Creek Community Development District

Review of District Financial Statements

Blackburn Creek CDD
February 2026 Financial Package

February 28, 2026

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

Blackburn Creek CDD Statement of Financial Position As of 2/28/2026

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	$414,678.78											$414,678.78	
Money Market Account	304,104.14											304,104.14	
Assessments Receivable	18,345.25											18,345.25	
Assessment Receivable - Off Roll	7,560.59											7,560.59	
Prepaid Expenses	3,506.63											3,506.63	
Assessments Receivable			$32,165.53									32,165.53	
Assessment Receivable - Off Roll			8,764.65									8,764.65	
Debt Service Reserve 2019A Bond			163,410.00									163,410.00	
Revenue 2019A Bond			361,831.29									361,831.29	
Interest 2019A1 Bond			0.03									0.03	
Interest 2019A2 Bond			0.01									0.01	
Sinking Fund 2019A1 Bond			0.02									0.02	
Sinking Fund 2019A2 Bond			0.01									0.01	
Prepayment 2019A1 Bond			3,671.15									3,671.15	
Prepayment 2019A2 Bond			2,047.35									2,047.35	
Assessments Receivable				$31,071.00								31,071.00	
Assessment Receivable - Off Roll				8,737.43								8,737.43	
Debt Service Reserve 2015A1 Bond				223,925.00								223,925.00	
Debt Service Reserve 2015A2 Bond				81,406.25								81,406.25	
Revenue 2015A Bond				492,451.99								492,451.99	
Prepayment 2015A1 Bond				4,739.02								4,739.02	
Prepayment 2015A2 Bond				8,163.37								8,163.37	
Assessments Receivable						$72,699.88						72,699.88	
Assessment Receivable - Off Roll						16,954.51						16,954.51	
Debt Service Reserve 2018A1 Bond						266,937.73						266,937.73	
Revenue 2018A Bond						740,641.96						740,641.96	
Prepayment 2018A1 Bond						9,629.48						9,629.48	
Prepayment 2018A2 Bond						7,209.11						7,209.11	
Sinking Fund 2018A2 Bond						62.68						62.68	
Assessment Receivable								$30,783.27				30,783.27	
Due From Other Funds								0.01				0.01	
Revenue 2023 Bond								308,279.84				308,279.84	
Interest 2023 Bond								0.02				0.02	
Prepayment 2023 Bond			
					1,705.89				1,705.89	
Total Current Assets	$748,195.39		$571,890.04	$850,494.06		$1,114,135.35		$340,769.03		$0.00		$3,625,483.87	

Investments													
Amount Available in Debt Service Funds										$2,676,112.19		$2,676,112.19	
Amount To Be Provided			
							17,131,887.81		17,131,887.81	
Total Investments	$0.00		$0.00	$0.00		$0.00		$0.00		$19,808,000.00		$19,808,000.00	
Total Assets	$748,195.39		$571,890.04	$850,494.06		$1,114,135.35		$340,769.03		$19,808,000.00		$23,433,483.87	

Blackburn Creek CDD Statement of Financial Position As of 2/28/2026

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

General Fund	Total

Current Liabilities
Deferred Revenue
Deferred Revenue - Off Roll Deferred Revenue
Deferred Revenue - Off Roll Deferred Revenue
Deferred Revenue - Off Roll Deferred Revenue
Deferred Revenue - Off Roll Deferred Revenue
Total Current Liabilities

Long Term Liabilities
Revenue Bonds Payable - Long-Term Total Long Term Liabilities

Total Liabilities	

$18,345.25 7,560.59

$25,905.84

$0.00

$25,905.84		Liabilities and Net Assets

$32,165.53 8,764.65
$31,071.00 8,737.43

 
$40,930.18	$39,808.43

 
$0.00	$0.00

$40,930.18	$39,808.43		

$72,699.88 16,954.51

$89,654.39

$0.00

$89,654.39		

$30,783.27

$30,783.27

$0.00

$30,783.27		

$0.00

$19,808,000.00

$19,808,000.00

$19,808,000.00		

$18,345.25 7,560.59
32,165.53
8,764.65
31,071.00
8,737.43
72,699.88
16,954.51
30,783.27

$227,082.11

$19,808,000.00

$19,808,000.00

$20,035,082.11	

Net Assets
Net Assets, Unrestricted
Net Assets - General Government Current Year Net Assets - General Govt
Net Assets, Unrestricted
Current Year Net Assets, Unrestricted
Net Assets, Unrestricted
Current Year Net Assets, Unrestricted
Net Assets, Unrestricted
Current Year Net Assets, Unrestricted
Net Assets, Unrestricted
Current Year Net Assets, Unrestricted

Total Net Assets

Total Liabilities and Net Assets	

($48,034.62) 527,536.13
242,788.04

$722,289.55

$748,195.39		

$352,913.32 178,046.54

$530,959.86

$571,890.04		

$654,050.21 156,635.42

$810,685.63

$850,494.06		

$710,643.40 313,837.56

$1,024,480.96

$1,114,135.35		

$132,641.54 177,344.22

$309,985.76

$340,769.03		

$0.00

$19,808,000.00		

($48,034.62) 527,536.13
242,788.04
352,913.32
178,046.54
654,050.21
156,635.42
710,643.40
313,837.56
132,641.54
177,344.22

$3,398,401.76

$23,433,483.87	

Blackburn Creek CDD Statement of Activities As of 2/28/2026

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

General Fund	Total

Revenues	
On-Roll Assessments Off-Roll Assessments On-Roll Assessments Off-Roll Assessments On-Roll Assessments Off-Roll Assessments
Inter-Fund Group Transfers In On-Roll Assessments
Off-Roll Assessments Other Assessments On roll Assessments
Total Revenues	$321,578.89
5,040.40

$326,619.29		

$279,820.07
8,764.64

$288,584.71		

$270,298.36
8,737.42
3,275.44

$282,311.22		

$632,443.65 16,954.52
50,156.18

$699,554.35		

$267,795.31
$267,795.31		

$0.00		$321,578.89
5,040.40
279,820.07
8,764.64
270,298.36
8,737.42
3,275.44
632,443.65
16,954.52
50,156.18
267,795.31
$1,864,864.88	
Expenses

Supervisor Fees
Public Officials' Insurance Trustee Services Management
Engineering Disclosure Agent District Counsel
Assessment Administration Arbitrage Calculation Postage & Shipping
Legal Advertising
Web Site Maintenance Dues, Licenses, and Fees General Insurance
Interest Payments - 2013A1, 2019A1 Interest Payments - 2019A2 Principal Payments - 2015A1 bond Interest Payments - 2015A1 bond Interest Payments - 2015A2 bond Principal Payment - 2018A1 Bond Principal Payment - 2018A2 Bond Interest Payment - 2018A1 Bond Interest Payment - 2018A2 Bond Inter-Fund Transfers
Principal Payment S2023 Bond Interest Payment - S2023 Bond
Total Expenses	

$4,800.00 3,245.00
8,135.64
16,637.50
18,725.00
12,500.00
2,021.50
15,000.00
6,000.00
128.77
139.50
1,025.00
175.00
4,687.00

$93,219.91		

$78,958.75 36,260.00

$115,218.75		

$25,000.00 80,637.50
28,281.25

$133,918.75		

$100,000.00 30,000.00
261,358.52
147.50
3,275.44

$394,781.46		

$10,000.00 82,473.60
$92,473.60		

$0.00		

$4,800.00 3,245.00
8,135.64
16,637.50
18,725.00
12,500.00
2,021.50
15,000.00
6,000.00
128.77
139.50
1,025.00
175.00
4,687.00
78,958.75
36,260.00
25,000.00
80,637.50
28,281.25
100,000.00
30,000.00
261,358.52
147.50
3,275.44
10,000.00
82,473.60
$829,612.47	
Other Revenues (Expenses) & Gains (Losses)

Interest Income Interest Income Interest Income Interest Income Interest income
Total Other Revenues (Expenses) & Gains (Losses)	

$9,388.66

$9,388.66		

$4,680.58

$4,680.58		

$8,242.95

$8,242.95		

$9,064.67

$9,064.67		

$2,022.51
$2,022.51		

$0.00		

$9,388.66 4,680.58
8,242.95
9,064.67
2,022.51
$33,399.37	
Change In Net Assets	$242,788.04		$178,046.54		$156,635.42		$313,837.56		$177,344.22		$0.00		$1,068,651.78	

Net Assets At Beginning Of Year	
$479,501.51		
$352,913.32		
$654,050.21		
$710,643.40		
$132,641.54		
$0.00		
$2,329,749.98	

Net Assets At End Of Year	

$722,289.55		

$530,959.86		

$810,685.63		

$1,024,480.96		

$309,985.76		

$0.00		

$3,398,401.76	

Blackburn Creek CDD
Budget to Actual
For The Month Ending 2/28/2026

Year To Date

Actual		Budget		Variance		Adopted Budget	

$	

326,619.29
38,014.55		

$	

150,033.70
38,014.55		

$	

176,585.59
-		

$ 350,000.00
101,315.70	
$	364,633.84		$	188,048.25		$	176,585.59		$ 451,315.70	

$	
4,800.00		
$	
5,833.35		
$	
(1,033.35)		
$  14,000.00	
	3,245.00			1,435.00			1,810.00		3,444.00	
	8,135.64			6,666.65			1,468.99		16,000.00	
	16,637.50			16,637.50			-		39,930.00	
	18,725.00			10,000.00			8,725.00		24,000.00	
	12,500.00			6,250.00			6,250.00		15,000.00	
	2,021.50			6,250.00			(4,228.50)		15,000.00	
	15,000.00			6,250.00			8,750.00		15,000.00	
	-			416.65			(416.65)		1,000.00	
	-			2,291.65			(2,291.65)		5,500.00	
	6,000.00			416.65			5,583.35		1,000.00	
	-			20.85			(20.85)		50.00	
	128.77			187.50			(58.73)		450.00	
	139.50			1,041.65			(902.15)		2,500.00	
	-			104.15			(104.15)		250.00	
	-			83.35			(83.35)		200.00	
	1,025.00			1,425.00			(400.00)		3,420.00	
	175.00			72.90			102.10		175.00	
	-			89,342.40			(89,342.40)		214,421.70	
	-			31,250.00			(31,250.00)		75,000.00	
	4,687.00			2,073.00			2,614.00		4,975.00	
$	93,219.91		$	188,048.25		$	(94,828.34)		$ 451,315.70	
 $		93,219.91		 $		188,048.25		 $		(94,828.34)		  $	-	
$	271,413.93		$	-		$	271,413.93		$	-	

$	
9,388.66		
$	
-		
$	9,388.66		
$	-	
$	9,388.66		$	-		$	9,388.66		$	-	
$	280,802.59		$	-		$	280,802.59		$	-	

FY 2026

Percentage

Revenues
On/Off Roll Assessments Carry Forward Revenue
Net Revenues
General & Administrative Expenses
Supervisor Fees
Public Officials' Insurance Trustee Services Management Engineering
Disclosure Agent District Counsel
Assessment Administration Reamortization Schedules Audit
Arbitrage Calculation Tax Preparation Postage & Shipping Legal Advertising Bank Fees Miscellaneous
Web Site Maintenance Dues, Licenses, and Fees Stormwater Reserve Stormwater Maintenance General Insurance
Total General & Administrative Expenses

Total Expenses

Income (Loss) from Operations

Other Income (Expense)
Interest Income
Total Other Income (Expense)

Net Income (Loss)

93.32%
37.52%

80.79%

34.29%
94.22%
50.85%
41.67%
78.02%
83.33%
13.48%
100.00%
0.00%
0.00%
600.00%
0.00%
28.62%
5.58%
0.00%
0.00%
29.97%
100.00%
0.00%
0.00%
94.21%

20.66%

Blackburn Creek CDD Outstanding Bonds
As of February 28, 2026

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	715,000	860,000	6.25%	560-662, 953-
1248	
2015A-1 CUSIP: 09228KAC6	5/1/2015	5/1/2045	1,945,000	315,000	1,630,000	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	5,370,000	3,395,000			
2018A-1 CUSIP: 09228KAE2	5/1/2018	5/1/2028	1,660,000	1,144,000	516,000	5.25%		
2018A-1 CUSIP: 09228KAF9	5/1/2018	5/1/2038	2,890,000	372,000	2,518,000	5.75%	1249-1683,	
2018A-1 CUSIP: 09228KAG7	5/1/2018	5/1/2048	5,165,000	656,000	4,509,000	5.90%	1717-1841	
2018A-2 CUSIP: 09228KAH5	5/1/2018	5/1/2048	2,880,000	1,588,000	1,292,000	5.90%		
2018 Bond			12,595,000	3,760,000	8,835,000			
2019A-1 CUSIP: 09228KAJ1	5/1/2019	5/1/2029	595,000	335,000	260,000	4.75%		
2019A-1 CUSIP: 09228KAK8	5/1/2019	5/1/2039	985,000	30,000	955,000	5.45%	663-849,	
2019A-1 CUSIP: 09228KAL6	5/1/2019	5/1/2049	1,715,000	45,000	1,670,000	5.60%	1842-1897	
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	267,000	3,398,000	4.84%	1-559	
2023 Bond			3,665,000	267,000	3,398,000			
2013*	3/28/2013	----	5,455,000		-	6.00%		
TOTALS			29,765,000	9,957,000	19,808,000			

* Refinanced

Page 5 of 5

Blackburn Creek Community Development District

Staff Reports