Avenir
Community Development District

Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE BUDGET (SERIES 2018) IV       DETAILED FINAL DEBT SERVICE BUDGET (SERIES 2019) V	DETAILED FINAL DEBT SERVICE BUDGET (SERIES 2020) VI ASSESSMENT COMPARISON - PARCELS A-1 - A-5
VII	ASSESSMENT COMPARISON - PARCELS A-6 - A-9

FINAL BUDGET
AVENIR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021 BUDGET	
O&M Assessments	1,471,818	
Landowner Contribution - O&M	0	
Landowner Contribution - Debt	0	
Debt Assessments - Series 2018	4,567,518	
Debt Assessments - Series 2019	1,552,957	
Debt - Capitalized Interest	0	
Interest Income	1	
		
TOTAL REVENUES	$	7,592,294	
		
EXPENDITURES		
Supervisor Fees	0	
Engineering/Inspections	15,000	
Management	39,084	
Legal	40,000	
Assessment Roll	7,500	
Audit Fees	8,000	
Arbitrage Rebate Fee	1,950	
Insurance	8,000	
Legal Advertisements	3,500	
Miscellaneous	3,000	
Postage	300	
Office Supplies	2,000	
Dues & Subscriptions	175	
Trustee Fees	15,000	
Continuing Disclosure Fee	3,000	
Website Management	2,000	
Appraisal Fee	0	
Miscellaneous Maintenance	25,000	
Landscape Maintenance	500,000	
Lake Maintenance	50,000	
Lake Water Control	20,000	
Mitigation Maintenance	75,000	
Trail Maintenance	5,000	
Wild Hog Control	15,000	
Pump Maintenance	25,000	
Streetlight	100,000	
Electric (FPL)	225,000	
Water (Seacoast)	125,000	
Clubhouse Management	20,000	
Clubhouse Utilities	30,000	
Field Operations	20,000	
		
TOTAL EXPENDITURES	$	1,383,509	
		
REVENUES LESS EXPENDITURES	$	6,208,785	
		
Bond Payments - Series 2018	(4,293,467)	
Bond Payments - Series 2019	(1,459,780)	
		
BALANCE	$	455,538	
		
County Appraiser & Tax Collector Fee	(151,846)	
Discounts For Early Payments	(303,692)	
		
EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
AVENIR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2018/2019 ACTUAL	
FISCAL YEAR 2019/2020 BUDGET	
FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	
O&M Assessments	0	414,846	1,471,818	Total Expenses / .94	
Landowner Contribution - O&M	120,047	0	0	Landowner Contribution - O&M	
Landowner Contribution - Debt	0	0	0	Landowner Contribution - Debt	
Debt Assessments - Series 2018	0	5,045,950	4,567,518	Bond Payments/.94	
Debt Assessments - Series 2019	0	475,243	1,552,957	Bond Payments/.94	
Debt - Capitalized Interest	0	0	0		
Interest Income	3	0	1		
					
TOTAL REVENUES	$	120,050	$	5,936,039	$	7,592,294		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Engineering/Inspections	8,100	15,000	15,000		
Management	39,000	38,208	39,084	CPI Adjustment	
Legal	43,656	40,000	40,000	No Change From 2019/2020 Budget	
Assessment Roll	0	7,500	7,500	No Change From 2019/2020 Budget	
Audit Fees	5,000	6,500	8,000	Will Increase Due To Additional Bond Issues	
Arbitrage Rebate Fee	650	1,300	1,950	Will Increase Due To Additional Bond Issues	
Insurance	4,440	7,000	8,000	Insurance Estimate	
Legal Advertisements	5,878	2,500	3,500	$1,000 Increase From 2019/2020 Budget	
Miscellaneous	1,022	3,000	3,000	No Change From 2019/2020 Budget	
Postage	303	300	300	No Change From 2019/2020 Budget	
Office Supplies	1,811	1,250	2,000	$750 Increase From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fees	9,000	7,000	15,000	Will Increase Due To Additional Bond Issues	
Continuing Disclosure Fee	750	2,000	3,000	Will Increase Due To Additional Bond Issues	
Website Management	0	2,000	2,000	No Change From 2019/2020 Budget	
Appraisal Fee	0	0	0	No Change From 2019/2020 Budget	
Miscellaneous Maintenance	0	250,000	25,000	Miscellaneous Maintenance	
Landscape Maintenance	-	-	500,000	Estimate - New for 2020/2021 Budget	
Lake Maintenance	-	-	50,000	Estimate - New for 2020/2021 Budget	
Lake Water Control	-	-	20,000	Estimate - New for 2020/2021 Budget	
Mitigation Maintenance	-	-	75,000	Estimate - New for 2020/2021 Budget	
Trail Maintenance			5,000	Estimate - New for 2020/2021 Budget	
Wild Hog Control	-	-	15,000	Estimate - New for 2020/2021 Budget	
Pump Maintenance	-	-	25,000	Estimate - New for 2020/2021 Budget	
Streetlight			100,000	Estimate - New for 2020/2021 Budget	
Electric (FPL)	-	-	225,000	Estimate - New for 2020/2021 Budget	
Water (Seacoast)	-	-	125,000	Estimate - New for 2020/2021 Budget	
Field Operations	-	-	20,000	Estimate - New for 2020/2021 Budget	
					
Clubhouse Management	-	-	20,000	Estimate - New for 2020/2021 Budget	
Clubhouse Utilities			30,000	Estimate - New for 2020/2021 Budget	
					
TOTAL EXPENDITURES	$	119,786	$	383,733	$	1,383,509		
					
REVENUES LESS EXPENDITURES	$	264	$	5,552,306	$	6,208,785		
					
Bond Payments - Series 2018	0	(4,667,504)	(4,293,467)	2020 P & I Payments Less Earned Interest	
Bond Payments - Series 2019	0	(439,600)	(1,459,780)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$	264	$	445,202	$	455,538		
					
County Appraiser & Tax Collector Fee	0	(204,793)	(151,846)		
Discounts For Early Payments	0	(240,409)	(303,692)		
					
EXCESS/ (SHORTFALL)	$	264	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET - SERIES 2018
AVENIR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2019/2020 BUDGET	FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	
Interest Income	22,528	500	500	Projected Interest For 2020/2021	
Net NAV Tax Collection 2018-1	0	2,098,851	2,098,851	Maximum Debt Service Collection	

Net Collection 2018-2 (Taxable & Tax-Exempt)	0	1,704,971	1,382,255	Estimate - Collected from Developer / Home Builder	
Net NAV Tax Collection 2018-3	0	863,682	811,861	Maximum Debt Service Collection	
Landowner Contribution	0	0	0	Capitalized Interest Set-Up Through May 2019	
Total Revenues	$	22,528	$	4,668,004	$	4,293,467		
					
EXPENDITURES					
Principal Payments 2018-1	0	425,000	435,000	Principal Payment Due In 2021	
Principal Payments 2018-2 Taxable	0	0	0	Bonds Paid off as lots sold to Homebuilder	
Principal Payments 2018-2 TE	0	0	0	Bonds Paid off as lots sold to Homebuilder	
Principal Payments 2018-3	0	150,000	155,000	Principal Payment Due In 2021	
Interest Payments 2018-1	0	1,703,605	1,666,913	Interest Payments Due In 2021	
Interest Payments 2018-2 Taxable	0	1,442,583	1,162,880	Estimated Interest Payments Due In 2021	
Interest Payments 2018-2 TE	0	269,451	219,375	Estimated Interest Payments Due In 2021	
Interest Payments 2018-3	0	660,675	651,906	Interest Payments Due In 2021	
Bond Redemptions	0	16,690	2,393	Estimated Excess Debt Collections	
Total Expenditures	$	-	$	4,668,004	$	4,293,467		
					
Excess/ (Shortfall)	$	22,528	$	-	$	-		

Notes
Capitalized Interest Was Set-Up Through May 2019 Principal & Interest Payments Will Be Lower
Due To Bond Prepayments And True-Up Payments

Series 2018-1 Bond Information
Original Par Amount =	$31,500,000	Annual Principal Payments Due =	May 1st	
Interest Rate = Issue Date =
Maturity Date =	5.50%
May 2018
May 2049	Annual Interest Payments Due =	May 1st & November 1st	

Series 2018-2 Taxable Bond Information	
Original Par Amount =	$18,445,000	Annual Principal Payments Due =	Paid as Lots Sold to Home Builders	
Interest Rate =
Issue Date =	7.90%
May 2018	Annual Interest Payments Due =	May 1st & November 1st	
Maturity Date =	May 2029	NOTE: These Bonds are paid off as lot are sold to Home Builders

Series 2018-2 Tax Exempt (TE) Bond Information
Original Par Amount =	$4,700,000	Annual Principal Payments Due =	Paid as Lots Sold to Home Builders	
Interest Rate =	5.85%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	May 2018			
Maturity Date =	May 2029	NOTE: These Bonds are paid off as lot are sold to Home Builders

Series 2018-3 Bond Information
Original Par Amount =	$11,565,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	5.75%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =
Maturity Date =	May 2018
May 2049			

DETAILED FINAL DEBT SERVICE FUND BUDGET - SERIES 2019
AVENIR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2019/2020 BUDGET	FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	
Interest Income	0	0	0	Projected Interest For 2020/2021	
Net NAV Tax Collection	0	0	1,082,780	
On-Roll Debt Assessments Commence In 2020/2021	
Net NAV Tax Collection B	0	0	377,000	
Estimate - Collected from Developer / Home Builder	
Landowner Contribution	0	439,600	0	
Capitalized Interest Set-Up Through May 2020	
Capitalized Interest	0	439,600	0	
Capitalized Interest Set-Up Through May 2020	
Total Revenues	$	-	$	879,200	$	1,459,780		
					
EXPENDITURES					
Principal Payments	0	0	205,000	No Principal Payments Due In 2021	
Principal Payments B	0	0	0		
Interest Payments	0	879,200	873,460	Interest Payments Due In 2021	
Interest Payments B	0	0	377,000	Estimated Interest Payments Due in 2021	
Bond Redemptions	0	0	4,320	Estimated Excess Debt Collections	
Total Expenditures	$	-	$	879,200	$	1,459,780		
					
Excess/ (Shortfall)	$	-	$	-	$	-		

Note: Capitalized Interest Was Set-Up Through May 2020

Series 2019 Bond Information

Original Par Amount =	$15,700,000	Annual Principal Payments Due =	May 1st	
Interest Rate =
Issue Date = Maturity Date =	5.60%
April 2019
May 2050	Annual Interest Payments Due =	May 1st & November 1st	

Series 2019 B Taxable Bond Information	
Original Par Amount =	$2,200,000	Annual Principal Payments Due =	Paid as Lots Sold to Home Builders	
Interest Rate = Issue Date =
Maturity Date =	6.875%
December 2019
May 2029	Annual Interest Payments Due =	May 1st & November 1st	

Series 2019 B Tax Exempt (TE) Bond Information	
Original Par Amount =	$4,300,000	Annual Principal Payments Due =	Paid as Lots Sold to Home Builders	
Interest Rate = Issue Date =
Maturity Date =	5.250%
December 2019
May 2029	Annual Interest Payments Due =	May 1st & November 1st	

DETAILED FINAL DEBT SERVICE FUND BUDGET - SERIES 2020
AVENIR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2019/2020 BUDGET	FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	
Interest Income	0	0	0	Projected Interest For 2020/2021	
Impact Fees	0	0	1,344,857	Paid As Impact Fee Credits Are Earned	
Total Revenues	$	-	$	-	$	1,344,857		
					
EXPENDITURES					
Principal Payments	0	0	0	No Principal Payments Due In 2021	
Interest Payments	0	0	1,344,857	Interest Payments Due In 2021	
Total Expenditures	$	-	$	-	$	1,344,857		
					
Excess/ (Shortfall)	$	-	$	-	$	-		

Series 2020 Bond Information

Original Par Amount =	$22,600,000	Annual Principal Payments Due =	Paid as Impact Fee Credits Are Earned	
Interest Rate =	4.75%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	July 2020			
Maturity Date =	November 2050			

Avenir Community Development District Assessment Comparison (Parcels A-1 - A-5)

	Fiscal Year			Fiscal Year		Fiscal Year			Fiscal Year		

O&M Assessment For Parcel A-1	

$	Original Projected
Gross Assessment	

-	

$	2018/2019
Gross Assessment	

-	$	2019/2020
Gross Assessment	

157.68	

$	2020/2021
Projected Gross Assessment	

696.77	
Clubhouse Operation Assessment For Parcel A-1	$		-	$		-	$		-	$		45.78	
Debt (2018-1) Assessment For Parcel A-1	$		2,077.13	$		-	$		2,077.13	$		2,077.13	
Debt (2018-3 Clubhouse) Assessment For Parcel A-1	$	742.00	  $	-          $	742.00	   $	742.00	
Total	$	2,819.13	$	-	$	2,976.81	$	3,561.68	
O&M Assessment For Parcel A-2	$	-	$	-	$	157.68	$	696.77	
Clubhouse Operation Assessment For Parcel A-2	$	-	$	-	$	-	$	45.78	
Debt (2018-1) Assessment For Parcel A-2	$	1,982.71	$	-	$	1,982.71	$	1,982.71	
Debt (2018-3 Clubhouse) Assessment For Parcel A-2	$	742.00	  $	-          $	742.00	   $	742.00	
Total	$	2,724.71	$	-	$	2,882.39	$	3,467.26	
O&M Assessment For Parcel A-3	$	-	$	-	$	157.68	$	696.77	
Clubhouse Operation Assessment For Parcel A-3	$	-	$	-	$	-	$	45.78	
Debt (2018-1) Assessment For Parcel A-3	$	1,888.30	$	-	$	1,888.30	$	1,888.30	
Debt (2018-3 Clubhouse) Assessment For Parcel A-3	$	742.00	  $	-          $	742.00	   $	742.00	
Total	$	2,630.30	$	-	$	2,787.98	$	3,372.85	
O&M Assessment For Parcel A-4	$	-	$	-	$	157.68	$	696.77	
Clubhouse Operation Assessment For Parcel A-4	$	-	$	-	$	-	$	45.78	
Debt (2018-1) Assessment For Parcel A-4	$	2,171.54	$	-	$	2,171.54	$	2,171.54	
Debt (2018-3 Clubhouse) Assessment For Parcel A-4	$	742.00	  $	-          $	742.00	   $	742.00	
Total	$	2,913.54	$	-	$	3,071.22	$	3,656.09	
O&M Assessment For Parcel A-5 (50 Foot)	$	-	$	-	$	157.68	$	696.77	
Clubhouse Operation Assessment For Parcel A-5 (50 Foot)	$	-	$	-	$	-	$	-	
Debt (2018-1) Assessment For Parcel A-5 (50 Foot)	$	1,888.30	$	-	$	1,888.30	$	1,888.30	
Debt (2018-3 Clubhouse) Assessment For Parcel A-5 (50 Foot)	$	-	 $	-         $	-          $	- 	
Total	$	1,888.30	$	-	$	2,045.98	$	2,585.07	
O&M Assessment For Parcel A-5 (60 Foot)	$	-	$	-	$	157.68	$	696.77	
Clubhouse Operation Assessment For Parcel A-5 (60 Foot)	$	-	$	-	$	-	$	-	
Debt (2018-1) Assessment For Parcel A-5 (60 Foot)	$	1,982.71	$	-	$	1,982.71	$	1,982.71	
Debt (2018-3 Clubhouse) Assessment For Parcel A-5 (60 Foot)	$	-	 $	-         $	-          $	- 	
Total	$	1,982.71	$	-	$	2,140.39	$	2,679.48	
O&M Assessment For S.F. Villas	$	-	$	-	$	157.68	$	696.77	
Clubhouse Operation Assessment For S.F. Villas	$	-	$	-	$	-	$	45.78	
Debt (2018-1) Assessment For S.F. Villas	$	1,063.83	$	-	$	1,063.83	$	1,063.83	
Debt (2018-3 Clubhouse) Assessment For S.F. Villas	$	742.00	  $	-          $	742.00	   $	742.00	
Total	$	1,805.83	$	-	$	1,963.51	$	2,548.38	
O&M Assessment For Econ Dev	$	-	$	-	$	157.68	$	696.77	
Clubhouse Operation Assessment For Econ Dev	$	-	$	-	$	-	$	-	
Debt (2018-1) Assessment For Econ Dev	$	2,127.66	$	-	$	2,127.66	$	2,127.66	
Debt (2018-3 Clubhouse) Assessment For Econ Dev	$	-	 $	-         $	-          $	- 	
Total (Per Acre)	$	2,127.66	$	-	$	2,285.34	$	2,824.43	
O&M Assessment For Town Center	$	-	$	-	$	157.68	$	696.77	
Clubhouse Operation Assessment For Town Center	$	-	$	-	$	-	$	-	
Debt (2018-1) Assessment For Town Center	$	2,127.66	$	-	$	2,127.66	$	2,127.66	
Debt (2018-3 Clubhouse) Assessment For Town Center	$	-	 $	-         $	-          $	- 

Total (Per Acre)

$	2,127.66 $

-	$	2,285.34 $

2,824.43

* Assessments Include the Following : 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information
First Phase		
Second Phase		
Parcel A-1	98	Parcel A-6	246	
Parcel A-2	92	Parcel A-7	50	
Parcel A-3	119	Parcel A-8	99	
Parcel A-4	107	Parcel A-9	101	
Parcel A-5	267	Total Second Phase	496	
Parcel A-5	202			
SF Villas	250			
First Phase Residential	1,135			
Econ Dev (50 Acres)	177			
Town Center (53 Acres)	228			
Total First Phase	1,540			

TOTAL UNITS
Phase 1	
1,540	Total Gross O&M Expenses / Total O&M Units =	O&M per Unit	
Phase 2	496	$1,418,627  / 2,036	$696.77	
Total Units	2,036			
TOTAL RESIDENTIAL UNITS
Phase 1	
1,135			
Phase 2	496			
Total Units	1,631			
TOTALCLUBHOUSE UNITS
Phase 1	
666	Total Gross Clubhouse Operation Expenses / Total Clubhouse Units =	Clubhouse Operation per Unit	
Phase 2	496	$53,191  / 1,162	$45.78	
Total Units	1,162			
Note: Parcel A-5, Econ Dev, and Town Center are Not Assessed For Clubhouse Assessment - Receives No Special Benefit				

Avenir Community Development District Assessment Comparison (Parcels A-6 - A-9)

	Fiscal Year			Fiscal Year		Fiscal Year			Fiscal Year		

O&M Assessment For Parcel A-6	

$	Original Projected
Gross Assessment	

-	

$	2018/2019
Gross Assessment	

-	$	2019/2020
Gross Assessment	

157.68	

$	2020/2021
Projected Gross Assessment	

696.77	
Clubhouse Operation Assessment For Parcel A-6	$		-	$		-	$		-	$		45.78	
Debt (2019) Assessment For Parcel A-6	$		2,322.00	$		-	$		-	$		2,322.00	
Debt (2018-3 Clubhouse) Assessment For Parcel A-6	  $	742.00	  $	-          $	742.00	  $	742.00	
Total	$	3,064.00	$	-	$	899.68	$	3,806.55	
O&M Assessment For Parcel A-7	$	-	$	-	$	157.68	$	696.77	
Clubhouse Operation Assessment For Parcel A-7	$	-	$	-	$	-	$	45.78	
Debt (2019) Assessment For Parcel A-7	$	2,554.00	$	-	$	-	$	2,554.00	
Debt (2018-3 Clubhouse) Assessment For Parcel A-7	  $	742.00	  $	-          $	742.00	  $	742.00	
Total	$	3,296.00	$	-	$	899.68	$	4,038.55	
O&M Assessment For Parcel A-8	$	-	$	-	$	157.68	$	696.77	
Clubhouse Operation Assessment For Parcel A-8	$	-	$	-	$	-	$	45.78	
Debt (2019) Assessment For Parcel A-8	$	2,554.00	$	-	$	-	$	2,554.00	
Debt (2018-3 Clubhouse) Assessment For Parcel A-8	  $	742.00	  $	-          $	742.00	  $	742.00	
Total	$	3,296.00	$	-	$	899.68	$	4,038.55	
O&M Assessment For Parcel A-9	$	-	$	-	$	157.68	$	696.77	
Clubhouse Operation Assessment For Parcel A-9	$	-	$	-	$	-	$	45.78	
Debt (2019) Assessment For Parcel A-9	$	1,983.00	$	-	$	-	$	1,983.00	
Debt (2018-3 Clubhouse) Assessment For Parcel A-9	  $	742.00	  $	-          $	742.00	  $	742.00	
Total	$	2,725.00	$	-	$	899.68	$	3,467.55	

* Assessments Include the Following : 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information
First Phase		
Second Phase		
Parcel A-1	98	Parcel A-6	246	
Parcel A-2	92	Parcel A-7	50	
Parcel A-3	119	Parcel A-8	99	
Parcel A-4	107	Parcel A-9	101	
Parcel A-5	267	Total Second Phase	496	
Parcel A-5	202			
SF Villas	250			
First Phase Residential	1,135			
Econ Dev (50 Acres)	177			
Town Center (53 Acres)	228			
Total First Phase	1,540			

TOTAL UNITS
Phase 1	
1,540	Total Gross O&M Expenses / Total O&M Units =	O&M per Unit	
Phase 2	496	$1,418,627  / 2,036	$696.77	
Total Units	2,036			
TOTAL RESIDENTIAL UNITS
Phase 1	
1,135			
Phase 2	496			
Total Units	1,631			
TOTALCLUBHOUSE UNITS
Phase 1	
666	Total Gross Clubhouse Operation Expenses / Total Clubhouse Units =	Clubhouse Operation per Unit	
Phase 2	496	$53,191  / 1,162	$45.78	
Total Units	1,162			
Note: Parcel A-5, Econ Dev, and Town Center are Not Assessed For Clubhouse Assessment - Receives No Special Benefit