Olympus Community Development District
12051 Corporate Boulevard, Orlando, FL 32817; 407-723-5900
http://olympuscdd.com/

The following is the proposed agenda for the organizational meeting of the Board of Supervisors for the Olympus Community Development District, scheduled to be held Friday, June 4, 2021 at 2:00 p.m. at the Hampton Inn & Suites Clermont, 2200 East Highway 50, Clermont, FL 34711. Questions or comments on the Board Meeting or proposed agenda may be addressed to Lynne Mullins at mullinsl@pfm.com or (407) 723-5900. A quorum (consisting of at least three of the five Board Members) will be confirmed prior to the start of the Board Meeting.

Please use the following information to join the telephonic conferencing:

Phone:	1-844-621-3956	Participant Code:	796 761 297#

BOARD OF SUPERVISORS’ MEETING AGENDA

Organizational Matters
Roll Call to Confirm a Quorum
Public Comment Period
Consideration of the Minutes of the August 7, 2020 Board of Supervisors’ Meeting
Letter from Supervisor of Elections – Lake County

Business Matters
Consideration of Amendment to Website Requirements
Discussion Regarding Synovus Banking Fees
Consideration of Resolution 2021-01, Approving a Preliminary Budget for Fiscal Year 2022 & Setting a Public Hearing Date [suggested date of August 6, 2021 @ 2:00 p.m.]
Ratification of the E-Verify Memorandum of Understanding
Ratification of FY 2020 Audit Engagement Letter with CRI
Ratification of Matthews Design Group – Scope of Work for Phase 1A
Consideration of Updated Master Engineers Report
Consideration of an Amended and Restated Master Assessment Methodology
Consideration of Resolution 2021-02, Declaring Special Assessments
Consideration of Resolution 2021-03, Setting the Public Hearing for Imposing Special Assessments
Consideration of Payment Authorization Nos. 15R - 26
Review of District’s Financial Position and Budget to Actual YTD

Other Business

Staff Reports
District Counsel
District Engineer
District Manager
Developer’s Report
Supervisor Requests and Audience Comments

Adjournment

Olympus Community Development District

Minutes of the August 7, 2020 Board of Supervisors’ Meeting

MINUTES OF MEETING

OLYMPUS COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS’ MEETING
Friday, August 7, 2020 2:00 p.m.
Via conference call due to the COVID-19 Executive Order 20-52, 20-69 20-123 & 20-150.

Board Members present:		
Michael Carroll, Jr.	Chairman	(via phone)	
Michael J. Carroll, Sr.	Vice Chairman	(via phone)	
Matt Carroll	Assistant Secretary	(via phone)	
Russ Caldwell	Assistant Secretary	(via phone)	
Edward Dempsey	Assistant Secretary	(via phone)	
Also present were:			
Johnathan Johnson	Hopping Green & Sams, P.A.	(via phone)	
Lynne Mullins	PFM Group Consulting LLC	(via phone)	
Jennifer Walden	PFM Group Consulting LLC	(via phone)	
Chris Buttermore	Matthews Design Group, Inc.	(via phone)	
Misty Taylor	Bryant Miller Olive P.A.	(via phone)	
Ian Brown	Siemens	(via phone)	

FIRST ORDER OF BUSINESS	Call to Order and Roll Call Ms. Mullins called the meeting of the Olympus CDD to order at 2:00 p.m. and the roll was called. SECOND ORDER OF BUSINESS	Public Comment Period
Ms. Mullins called for any public comments. There were no public comments at this time.

THIRD ORDER OF BUSINESS	Discussion regarding Executive Orders 20- 52, 20-69, 20-123 & 20-150

Mr. Johnson provided information regarding Executive Orders 20-52, 20-69 20-123, & 20-150, the Governor has waived the requirement for a physical quorum due to COVID-19.

FOURTH ORDER OF BUSINESS	Consideration of the Minutes of the June 5, 2020 Board of Supervisors’ Meeting

The Board reviewed the minutes for the June 5, 2020 Board of Supervisors’ Meeting.

On MOTION by Mr. Michael J. Carroll, Sr., seconded by Mr. Michael J. Carroll, Jr., with all in favor, the Board approved the Minutes of the June 5, 2020 Board of Supervisors’ Meeting.

FIFTH ORDER OF BUSINESS	Consideration of the Minutes of the June 5, 2020 Auditor Selection Committee Meeting

The Board reviewed the minutes of the Auditor Selection Committee Meeting.

On MOTION by Mr. Michael J. Carroll, Sr., seconded by Mr. Russ Caldwell, with all in favor, the Board approved the Minutes of the June 5, 2020 Auditor Selection Committee Meeting.

SIXTH ORDER OF BUSINESS	Consideration of Resolution 2020- 33, Approving an Annual Meeting Schedule for Fiscal Year 2020-2021

Ms. Mullins stated we are recommending the Board continue holding meeting the first Friday of every month.

On Motion by Mr. Michael J. Carroll, Sr., seconded by Mr. Russ Caldwell, with all in favor, the Board of Supervisors approved Resolution 2020-33, Approving an Annual Meeting Schedule for Fiscal Year 2020-2021.

SEVENTH ORDER OF BUSINESS	Review of Auditor Selection Committee Rankings & Selection of Auditor

Ms. Mullins explained the recommended rankings from the Auditor Selection Committee are behind Tab 5. If the Board chooses to accept the rankings, then CRI would be ranked No. 1 and well move forward with getting an engagement letter.

On MOTION by Mr. Michael J. Carroll, Sr., seconded by Mr. Edward Dempsey, with all in favor, the Board accepted the Auditor Selection Committee Rankings, ranking CRI as No. 1.

EIGHTH ORDER OF BUSINESS	Public Hearing on the Adoption of the District’s Annual Budget
Public Comments and Testimony
Board Comments
Consideration of Resolution 2020- 34, Adopting the Fiscal Year 2021 Budget and Appropriating Funds

Ms. Mullins noted the District noticed the public hearing pursuant to Florida Statutes and requested a motion to open the Public Hearing.

On MOTION by Mr. Michael J. Carroll, Sr., seconded by Mr. Edward Dempsey, with all in favor, the Board opened the Public Hearing.

Ms. Mullins noted the budget is an exhibit to the Resolution and is the same overall budget the Board approved in preliminary form back in May.

Ms. Mullins opened the floor for public comments. Hearing none, she requested a motion to close the public hearing.

On MOTION by Mr. Michael J. Carroll, Sr., seconded by Mr. Russ Caldwell, with all in favor, the Board closed the Public Hearing.

Ms. Mullins asked for comments from the Board. Hearing none she requested a motion to approve Resolution 2020-34 as presented.

On MOTION by Mr. Michael J. Carroll, Sr., seconded by Mr. Edward Dempsey, with all in favor, the Board approved Resolution 2020-34, Adopting the Fiscal Year 2021 Budget and Appropriating Funds.

NINTH ORDER OF BUSINESS	Consideration of Funding Agreement for Fiscal Year 2020-2021

Ms. Mullins presented the Funding Agreement with Olympus Sports & Entertainment Group, LLC. This is to fund the Operations and Maintenance budget you just approved in Resolution 2020-34. This is a standard agreement that was prepared by Jonathan Johnson.

On MOTION by Mr. Michael Carroll, Jr., seconded by Mr. Edward Dempsey, with all in favor, the Board approved the Funding Agreement for Fiscal Year 2020-2021.

TENTH ORDER OF BUSINESS	Consideration of Payment Authorization Nos. 10 - 14

Ms. Mullins presented the Funding Agreement with Olympus Sports & Entertainment Group, LLC. This is to fund the Operations and Maintenance budget you just approved in Resolution 2020-34. This is a standard agreement that was prepared by Jonathan Johnson.

On MOTION by Mr. Michael Carroll, Jr., seconded by Mr. Michael J. Carroll, Sr., with all in favor, the Board approved Payment Authorization Nos. 10 Revised, 11, 13 Revised and 14.

ELEVENTH ORDER OF BUSINESS	Review of District’s Financial Position and Budget to Actual YTD.

The Board reviewed the District financials. No action was required by the Board. NINTH ORDER OF BUSINESS	Staff Reports District Counsel:  No report
District Engineer: No report

District Manager: No report

Developer’s Report: Michael Carroll Jr. stated they have strong interest from the market.

TWELFTH ORDER OF BUSINESS	Audience Comments & Supervisor Requests

There were no Supervisors requests and there were no audience members present.

THIRTEENTH ORDER OF BUSINESS	Adjournment

There was no further business to discuss. Ms. Mullins requested a motion to adjourn.

On MOTION by Mr. Michael J. Carroll, Sr., seconded by Mr. Matt Carroll, with all in favor, the August 7, 2020 Board of Supervisors’ Meeting of the Olympus Community Development District was adjourned.

 	_ 		 	_ 	
Secretary / Assistant Secretary	Chairperson / Vice Chairperson

Olympus Community Development District

Letter from Supervisor of Elections
-Lake County

V--	-
www.lakevotes.com

1898 E. Burleigh Blvd. •   P.O. Box 457 •    Tavares, FL 32778   P 352-343-9734   F   352-343-3605   E   Hays @lakevotes.com

April 16, 2021

Jennifer Walden, Senior District Manager 12051 Corporate Blvd
Orlando FL 32817

Re: District Counts

The number of registered voters within the Olympus Community Development District as of April 15, 2021 is Q.

If we may be of further assistance, please contact this office.

D. Alan Hays
Lake County Supervisor of Elections

OUR  COMMITMENT
Voter Confidence	Excellent Service	Accurate & Efficient Elections	Responsible Financial Stewardship

Olympus Community Development District

Amendment to Website Requirement

MEMORANDUM
TO:	District Manager
FROM:	HGS Attorney
DATE:	July 1, 2020
RE:	Amendments to Section 189.069(2)(a), Florida Statutes

The Florida Legislature recently enacted amendments to the website requirements contained in Section 189.069(2)(a), Florida Statues, effective July 1, 2020. The full text of these amendments is attached to this memorandum as Exhibit A, and the amendments are summarized below:
The requirement to post the final, complete audit report for the most recent completed fiscal year and audit reports required by law or authorized by the governing body of the special district may be satisfied by providing a link to the audit report on the Auditor General’s website.
The public facilities report is no longer required to be posted.
Meeting materials accompanying meeting or workshop agendas are no longer required to be posted. Please note that the agenda itself is still required to be posted.
The amendments do not prevent districts from including these documents on their websites, but districts may remove them if they so choose. We recommend requesting board direction on a district-by-district basis.
Please do not hesitate to contact your HGS attorney at (850) 222-7500 if you have any questions or concerns.

CHAPTER 2020-77

Committee Substitute for Senate Bill No. 1466

An act relating to government accountability; amending s. 189.031, F.S.; specifying conditions under which board members and public employees of special districts do not abuse their public positions; amending s. 189.069, F.S.; revising the list of items required to be included on the websites of special districts; amending s. 190.007, F.S.; specifying conditions under which board members and public employees of community development districts do not abuse their public positions; providing effective dates.

Be It Enacted by the Legislature of the State of Florida:
Section 1. Effective January 1, 2021, subsection (6) is added to section 189.031, Florida Statutes, to read:
189.031 Legislative intent for the creation of independent special districts; special act prohibitions; model elements and other requirements; local general-purpose government/Governor and Cabinet creation author- izations.—
(6) GOVERNANCE.—For purposes of s. 8(h)(2), Art. II of the State Constitution, a board member or a public employee of a special district does not abuse his or her public position if the board member or public employee commits an act or omission that is authorized under s. 112.313(7), (12), (15), or (16) or s. 112.3143(3)(b), and an abuse of a board member’s position does not include any act or omission in connection with a vote when the board member has followed the procedures required by s. 112.3143.
Section 2. Paragraph (a) of subsection (2) of section 189.069, Florida Statutes, is amended to read:
189.069 Special districts; required reporting of information; web-based public access.—
(2)(a) A special district shall post the following information, at a minimum, on the district’s official website:
The full legal name of the special district.
The public purpose of the special district.
The name, official address, official e-mail address, and, if applicable, term and appointing authority for each member of the governing body of the special district.
The fiscal year of the special district.

Ch. 2020-77	LAWS OF FLORIDA	Ch. 2020-77

The full text of the special district’s charter, the date of establishment, the establishing entity, and the statute or statutes under which the special district operates, if different from the statute or statutes under which the special district was established. Community development districts may reference chapter 190 as the uniform charter but must include information relating to any grant of special powers.
The mailing address, e-mail address, telephone number, and website uniform resource locator of the special district.
A description of the boundaries or service area of, and the services provided by, the special district.
A listing of all taxes, fees, assessments, or charges imposed and collected by the special district, including the rates or amounts for the fiscal year and the statutory authority for the levy of the tax, fee, assessment, or charge. For purposes of this subparagraph, charges do not include patient charges by a hospital or other health care provider.
The primary contact information for the special district for purposes of communication from the department.
A code of ethics adopted by the special district, if applicable, and a hyperlink to generally applicable ethics provisions.
The budget of the special district and any amendments thereto in accordance with s. 189.016.
The final, complete audit report for the most recent completed fiscal year and audit reports required by law or authorized by the governing body of the special district. If the special district has submitted its most recent final, complete audit report to the Auditor General, this requirement may be satisfied by providing a link to the audit report on the Auditor General’s website.
A listing of its regularly scheduled public meetings as required by s. 189.015(1).
The public facilities report, if applicable.
The link to the Department of Financial Services’ website as set forth in s. 218.32(1)(g).
15.16. At least 7 days before each meeting or workshop, the agenda of the event, along with any meeting materials available in an electronic format, excluding confidential and exempt information. The information must remain on the website for at least 1 year after the event.
Section 3.	Effective January 1, 2021, subsection (1) of section 190.007, Florida Statutes, is amended to read:

Ch. 2020-77	LAWS OF FLORIDA	Ch. 2020-77

190.007	Board of supervisors; general duties.—
The board shall employ, and fix the compensation of, a district manager. The district manager shall have charge and supervision of the works of the district and shall be responsible for preserving and maintaining any improvement or facility constructed or erected pursuant to the provisions of this act, for maintaining and operating the equipment owned by the district, and for performing such other duties as may be prescribed by the board. It shall not be a conflict of interest under chapter 112 for a board member or the district manager or another employee of the district to be a stockholder, officer, or employee of a landowner or of an entity affiliated with a landowner. The district manager may hire or otherwise employ and terminate the employment of such other persons, including, without limitation, professional, supervisory, and clerical employees, as may be necessary and authorized by the board. The compensation and other conditions of employment of the officers and employees of the district shall be as provided by the board. For purposes of s. 8(h)(2), Art. II of the State Constitution, a board member or a public employee of a district does not abuse his or her public position if the board member or public employee commits an act or omission that is authorized under this subsection, s. 112.313(7), (12), (15), or (16), or s. 112.3143(3)(b), and an abuse of a board member’s public position does not include any act or omission in connection with a vote when the board member has followed the procedures required by s. 112.3143.
Section 4.	Except as otherwise expressly provided in this act, this act shall take effect July 1, 2020.
Approved by the Governor June 23, 2020.
Filed in Office Secretary of State June 23, 2020.

Olympus Community Development District

Synovus Banking Fees

SYNOVUS®

Statement of Account
Last statement:	October 31, 2020
This stalcmcnl:	November 30, 2020 Total days in statement period: 30
101-406-742-3	031	165
Page 1 ofl

OLYMPUS COMMUNITY DEVELOPMENT DISTRICT2
12051 CORPORATE BLVD
ORLANDO FL 32817-0000

Direct inquiries to:	0
800-334-9007

Beginning balance	2,261.05		
Deposits/Credits	0.00	Low balance	2,261.05	
Withdrawals/Debits	0.00	Average balance	2,261.05	
Ending balance	2,261.05	Average collected balance	2,261.00	

SYNOVU S

PROFORMA ANALYSIS PREPARED FOR		
Olympus COD		
Balance Summary		
NUMBER OF DAYS IN CYCLE	31	Balances as of:		October 31, 2020	
AVERAGE LEDGER BALANCE		+	$2,261.05	
LESS FLOAT			$0.00	
PLUS NEGATIVE AVERAGE COLLECTED BALANCES		+	$0.00	
AVERAGE COLLECTED BALANCE		=	$ 2,261.05	
LESSFEDERAL RESERVE REQUIREMENT	0%			 	$0.00 	
AVERAGE INVESTABLE BALANCE		=	$ 2,261.05	
EARNINGS CREDIT (Based on 366 Day Year)	0 .2 5%		+	$0.48	
ANALYZED FEES			 	$169.00 	
NET SERVICE CHARGE		=	($168 .52)	
EXCESS COLLECTED BALANCES			$0.00	
ADDITIONALCOLLECTED BALANCES TO OFFSET ANALYZED FEES			$795 ,855.08	
Service Detail
The fees listed below are based on information gathered from your company and is not an invoice for services. Prices are subject to change and any services not listed will be charged the Bank's standard fees.

SERVICES

VOLUME

PROPOSED FEE

TOTAL PROPOSED FEE

BALANCES
REQUIRED

DEPOSITORYSERVICES		
Monthly Maintenance Fee	1	$19 .0000	$19.00	$89,729	
NSF/Overdraft Fee	0	$36.0000	$0.00	$0	
Negative Collected Balance Fee	0	P+4.0 %	$0.00	$0	
Deposits	0	$0.8000	$0.00	$0	
Items Deposited Total	0	$0.1300	$0.00	$0	
Items Deposited CCH	0	$0.1300	$0.00	$0	
Items Dep Local Fed-City	0	$0.1300	$0.00	$0	
Items Dep Local Fed-RCPC	0	$0.1300	$0.00	$0	
Items Dep Local Fed-RCPC	0	$0.1300	$0.00	$0	
Items Dep Non-LocalFed-City	0	$0.1300	$0.00	$0	
Items Dep Non-Local Fed-RCPC	0	$0.1300	$0.00	$0	
Items DepOn Us	0	$0.1300	$0.00	$0	
Return Deposited Item	0	$9.0000	$0.00	$0	
Redepostied Return Item	0	$9.0000	$0.00	$0	
Deposit Corrections	0	$3.0000	$0.00	$0	
Checks Paid	0	$0.1800	$0.00	$0	
Stop Payment	0	$34.0000	$0.00	$0	
Check Block Monthly Fee per Account	0	$20.0000	$0.00	$0	
ACHBlock Monthly Fee per Account	0	$20.0000	$0.00	$0	
TotalDepository Services	24		$19.00	$89,729	
DOMESTIC WIRE TRANSFER					
Domestic Wire Transfer Incoming	0	$18.0000	$0.00	$0	
Domestic Wire Transfer Outgoing	0	$30.0000	$0.00	$0	
Domestic Wire Transfer Out BIB	0	$18.0000	$0.00	$0	
Total Domestic Transfer	0		$0.00	$0	
BUSINESS INTERNET BANKING
Level 1

VOLUME

PROPOSED	TOTAL	BALANCES

SERVICES

FEE

PROPOSED
FEE

REQUIRED

818 Level 1 ImplementationFee	0	$0.0000	$0.00	$0	
818 Level 1 Monthly Fee(Up to 7 accounts)	1	$0.0000	$0.00	$0	
818 Level 1 Additional Account Fee (Each account over 7)	0	$7.0000	$0.00	$0	
Level 2					
BIBLevel 2 Implementation Fee	0	$100.0000	$0.00	$0	
818 Level 2 Monthly Fee (Up to 5 accounts)	0	$65.0000	$0.00	$0	
BIBLevel 2 Additional Account Fee (Each account over 5)	0	$7.0000	$0.00	$0	
Level 3					
818 Level 3 Imp lement ation Fee	0	$100.0000	$0.00	$0	
818 Level 3 Monthly Fee (Up to 5 accounts)	0	$100.0000	$0.00	$0	
818 Level 3 Additional Account Fee (Each account over 5)	0	$7.0000	$0.00	$0	
Other					
Bill Pay	1	$0.0000	$0.00	$0	
Bill Pay Over The Limit(Payments 1 to 50 - No Charge)	0	$0.8000	$0.00	$0	
Bill Pay Inactivity Fee	0	$10.9500	$0.00	$0	
BIB Addi InfoReport Fee	0	$6.0000	$0.00	$0	
BIB Addi ACH App Fee	0	$6.0000	$0.00	$0	
BIB Token Fee		$37.5000	$0.00	$0	
TotalBusiness Internet Banking	2		$0.00	$0	
IRECTCONNECT
Direct Connect Monthly Fee	
0	
$18.0000	
$0.00	
$0	
TotalDirect Connect	0		$0.00	$0	
CCOUNT PROTECTION & RECONCILIATION
AP&R Positive Pay-Payee Positive Pay	
AP&R Positive Pay Monthly	1	$40.0000	$40.00	$188.903	
AP&R Per Item Man Entry	0	$0.0800	$0.00	$0	
AP&R Per Item File Import	0	$0.0800	$0.00	$0	
AP&R Per Item FTP	0	$0.0800	$0.00	$0	
AP&R Monthly Transmission	0	$35.0000	$0.00	$0	
AP&R Positive Pay Implement	0	$100.0000	$0.00	$0	
AP&R PayeePositive Pay Monthly	1	$10.0000	$10.00	$47,226	
AP&R Payee Positive Pay Per Item	0	$0.0200	$0.00	$0	
AP&R Payee Positive Pay ImplementationFee	0	$100.0000	$0.00	$0	
AP&R Reverse Positive Pay					
AP& Rev Positive Pay Mon thly	0	$40.0000	$0.00	$0	
AP&R Rev Positive Pay Per Item	0	$0.0800	$0.00	$0	
AP R Rev Positive Pay Implementation Fee	0	$100.0000	$0.00	$0	
AP&R ACH Positive Pay (PP)					
AP&R ACH PPay Addi CoID	0	$5.0000	$0.00	$0	
AP&R ACH PPay Mo per Acct	1	$40.0000	$40.00	$188,903	
AP&R ACH PPay Suspt Tran	0	$0.3500	$0.00	$0	
AP&R ACH PPay Return Dec	0	$0.3500	$0.00	$0	
AP&R ACH PPay Acct Maint	0	$5 .0000	$0.00	$0	
AP&R ACH PPay Pay Dec	0	$0.3500	$0.00	$0	
AP&R ACH Pos Pay lmpl	0	$100.0000	$0.00	$0	
Total Account Protection & Reconclliatlon	3		$90.00	$425,032	
EMOTE DEPOSIT CAPTURE
Remote Express Deposit (RED) Premium	
RED Monthly Fee (includes 1 account)	1	$60.0000	$60.00	$283,355	
RED Additional Account Fees (2-10)	0	$12.0000	$0.00	$0	
RED Additional Account Fees (11-35)	0	$7.0000	$0.00	$0	
RED Additional Account Fees (36+)	0	$5.0000	$0.00	$0	
Total Remote Deposit capture	1		$60.00	$283,355	
Remote Express Dep  Scanner Equipment Charges	0	$0.0000	$0.00		
INGLE SERVICE ONLINE STOP PAYMENTS
Stop Payment Implementation Fee	0	$25.0000	$0.00	$0	
Stop Payment (per acct,per month)	0	$15.0000	$0.00	$0	

D

A

R

S

PROPOSED

TOTAL	BALANCES

SERVICES

VOLUME

FEE

PROPOSED
FEE

REQUIRED

Total SingleService Online Stop Payments	0		$0.00	$0	
	0	$0.0000	$0.00	$0	
	0	$0.0000	$0.00	$0	
	0	$0.0000	$0.00	$0	
	0	$0.0000	$0.00	$0	
	0	$0.0000	$0.00	$0	
	0	$0.0000	$0.00	$0	

TOTAL PROPOSED FEES	0		
$169.00	$0	
TOTAL PROPOSED FEES Plus Equipment Charges			$169.00		
AVERAGE COLLECTED BALANCE REQUIRED TO OFFSET MONTHLY CHARGES				$798,116.13	

Olympus Community Development District

Resolution 2021-01,
Approving a Preliminary Budget for Fiscal Year 2022 & Setting a Public Hearing Date

RESOLUTION 2021-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE OLYMPUS COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2021/2022 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW; ADDRESSING TRANSMITTAL, POSTING AND PUBLICATION REQUIREMENTS; ADDRESSING SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has heretofore prepared and submitted to the Board of Supervisors (“Board”) of the Olympus Community Development District (“District”) prior to June 15, 2021, a proposed budget (“Proposed Budget”) for the fiscal year beginning October 1, 2021 and ending September 30, 2022 (“Fiscal Year 2021/2022”); and

WHEREAS, the Board has considered the Proposed Budget and desires to set the required public hearing thereon.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE OLYMPUS COMMUNITY DEVELOPMENT DISTRICT:

PROPOSED BUDGET APPROVED. The Proposed Budget prepared by the District Manager for Fiscal Year 2021/2022 attached hereto as Exhibit A is hereby approved as the basis for conducting a public hearing to adopt said Proposed Budget.

SETTING A PUBLIC HEARING. A public hearing on said approved Proposed Budget is hereby declared and set for the following date, hour and location:

DATE:	 	, 2021

HOUR:	 	

LOCATION:	 	

TRANSMITTAL OF PROPOSED BUDGET TO LOCAL GENERAL PURPOSE GOVERNMENTS. The District Manager is hereby directed to submit a copy of the Proposed Budget to the City of Clermont and Lake County at least 60 days prior to the hearing set above.

POSTING OF PROPOSED BUDGET. In accordance with Section 189.016, Florida Statutes, the District’s Secretary is further directed to post the approved Proposed Budget on the District’s website at least two days before the budget hearing date as set forth in Section 2, and shall remain on the website for at least 45 days.

PUBLICATION OF NOTICE. Notice of this public hearing shall be published in the manner prescribed in Florida law.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 4th DAY OF JUNE, 2021.

ATTEST:	OLYMPUS COMMUNITY
DEVELOPMENT DISTRICT

By: 	
Secretary	Its: 	

Exhibit A: Proposed Budget

Olympus CDD
FY 2022 Proposed O&M Budget

Actual Through 04/30/2021

Anticipated May - Sep.

Anticipated FY 2021 Total

FY 2021
Adopted Budget

FY 2022
Proposed Budget

Revenues

Developer Contributions	$	59,013.69		$	1,314.40		$	60,328.09		$ 124,875.00		$ 147,625.00	
Net Revenues	$	59,013.69		$	1,314.40		$	60,328.09		$ 124,875.00		$ 147,625.00	

General & Administrative Expenses											
Public Officials' Liability Insurance	$	-	$	-	$	-	$	2,350.00	$	2,350.00	
Management	18,055.57	6,944.43	25,000.00	50,000.00	70,000.00	
Engineering	-	4,166.67	4,166.67	10,000.00	10,000.00	
Dissemination Agent	-	5,000.00	5,000.00	5,000.00	5,000.00	
District Counsel	3,733.28	2,666.63	6,399.91	25,000.00	25,000.00	
Assessment Administration	-	7,500.00	7,500.00	7,500.00	7,500.00	
Reamortization Schedules	-	-	-	-	250.00	
Audit	-		6,000.00		6,000.00		6,000.00		6,000.00	
Travel and Per Diem	-		416.67		416.67		1,000.00		1,000.00	
Telephone	-		20.83		20.83		50.00		50.00	
Postage & Shipping	7.60		5.43		13.03		300.00		300.00	
Copies	-		125.00		125.00		300.00		300.00	
Legal Advertising	1,105.02		789.30		1,894.32		9,500.00		10,000.00	
Bank Fees	-		104.17		104.17		250.00		250.00	
Miscellaneous	-		416.67		416.67		1,000.00		2,500.00	
Office Supplies	-		-		-		-		250.00	
Meeting Room	-		395.83		395.83		950.00		1,200.00	
Web Site Maintenance	1,475.00		1,225.00		2,700.00		2,700.00		2,700.00	
Dues, Licenses, and Fees	175.00		-		175.00		175.00		175.00	
General Insurance	-		-		-		2,800.00		2,800.00	
Total General & Administrative Expenses	$	24,551.47		$	35,776.62		$	60,328.09		$ 124,875.00		$ 147,625.00	

Total Expenses

  $	24,551.47  

  $	35,776.62  

   $	60,328.09  

  $ 124,875.00  

  $ 147,625.00  

    

Net Income (Loss)

$	34,462.22

$	(34,462.22)	$

-	$	-	$	-

    

Page 1 of 1

Olympus CDD Budget Item Descriptions
FY 2021 – 2022

Revenues

Developer Contribution

Funding from the Developer.

General & Administrative Expenses

Public Officials’ Liability Insurance

Supervisors’ and Officers’ liability insurance.

Management

The District receives Management and Administrative services as part of a Management Agreement with PFM Group Consulting, LLC. These services are further outlined in Exhibit “A” of the Management Agreement.

Engineering

The District’s engineer provides general engineering services to the District. Among these services are attendance at and preparation for monthly board meetings, review of invoices, and all other engineering services as requested by the district throughout the year.

Dissemination Agent

When bonds are issued for the District, the Bond Indenture requires continuing disclosure, which the dissemination agent provides to the trustee and bond holders.

District Counsel

The District’s legal counsel provides general legal services to the District. Among these services are attendance at and preparation for monthly board meetings, review of operating and maintenance contracts, and all other legal services as requested by the District throughout the year.

Assessment Administration

The District can levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the Fiscal Year. It is typically collected via the Tax Collector. The District Manager submits an Assessment Roll to the Tax Collector annually by the deadline set by the Tax Collector or Property Appraiser.

Olympus CDD Budget Item Descriptions
FY 2021 – 2022

Reamortization Schedules

When debt is paid on a bond series, a new amortization schedule must be recalculated. This can occur up to four times per year per bond issue.

Audit

Chapter 218 of the Florida Statutes requires a District to conduct an annual financial audit by an Independent Certified Public Accounting firm. Some exceptions apply.

Travel and Per Diem

Travel to and from meetings as related to the District.

Telephone

Telephone and fax machine services.

Postage & Shipping

Mail, overnight deliveries, correspondence, etc.

Copies

Printing and binding Board agenda packages, letterhead, envelopes, and copies.

Legal Advertising

The District will incur expenditures related to legal advertising. The items for which the District will advertise include, but are not limited to, monthly meetings, special meetings, and public hearings for the District.

Bank Fees

Bank fees associated with the services we use with the District’s bank (e.g. remote deposit capture, positive pay, wire transfers, ACH payments, monthly maintenance, etc.).

Miscellaneous

Other general & administrative expenses incurred throughout the year.

Office Supplies

General office supplies associated with the District.

Meeting Room

Fee charged for renting a room for the monthly advertised meeting.

Web Site Maintenance

Website maintenance fee.

Olympus CDD Budget Item Descriptions
FY 2021 – 2022

Dues, Licenses & Fees

The District is required to pay an annual fee to the Department of Economic Opportunity.

General Insurance

General liability insurance.

Olympus Community Development District

E-Verify Memorandum of Understanding

Company ID Number: 1650997

THE E-VERIFY MEMORANDUM OF UNDERSTANDING
FOR EMPLOYERS

ARTICLE I PURPOSE AND AUTHORITY
The parties to this agreement are the Department of Homeland Security (DHS) and the
Olympus Community Development District (Employer). The purpose of this agreement is to set forth terms and conditions which the Employer will follow while participating in E-Verify.

E-Verify is a program that electronically confirms an employee’s eligibility to work in the United States after completion of Form I-9, Employment Eligibility Verification (Form I-9). This Memorandum of Understanding (MOU) explains certain features of the E-Verify program and describes specific responsibilities of the Employer, the Social Security Administration (SSA), and DHS.
Authority for the E-Verify program is found in Title IV, Subtitle A, of the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 (IIRIRA), Pub. L. 104-208, 110 Stat. 3009, as amended (8 U.S.C.
§ 1324a note). The Federal Acquisition Regulation (FAR) Subpart 22.18, “Employment Eligibility Verification” and Executive Order 12989, as amended, provide authority for Federal contractors and subcontractors (Federal contractor) to use E-Verify to verify the employment eligibility of certain employees working on Federal contracts.

ARTICLE II RESPONSIBILITIES
RESPONSIBILITIES OF THE EMPLOYER
The Employer agrees to display the following notices supplied by DHS in a prominent place that is clearly visible to prospective employees and all employees who are to be verified through the system:

Notice of E-Verify Participation
Notice of Right to Work
The Employer agrees to provide to the SSA and DHS the names, titles, addresses, and telephone numbers of the Employer representatives to be contacted about E-Verify. The Employer also agrees to keep such information current by providing updated information to SSA and DHS whenever the representatives’ contact information changes.

The Employer agrees to grant E-Verify access only to current employees who need E-Verify access. Employers must promptly terminate an employee’s E-Verify access if the employer is separated from the company or no longer needs access to E-Verify.

Company ID Number: 1650997

The Employer agrees to become familiar with and comply with the most recent version of the E-Verify User Manual.

The Employer agrees that any Employer Representative who will create E-Verify cases will complete the E-Verify Tutorial before that individual creates any cases.

The Employer agrees that all Employer representatives will take the refresher tutorials when prompted by E-Verify in order to continue using E-Verify. Failure to complete a refresher tutorial will prevent the Employer Representative from continued use of E-Verify.
The Employer agrees to comply with current Form I-9 procedures, with two exceptions:

If an employee presents a "List B" identity document, the Employer agrees to only accept "List B" documents that contain a photo. (List B documents identified in 8 C.F.R. § 274a.2(b)(1)(B)) can be presented during the Form I-9 process to establish identity.) If an employee objects to the photo requirement for religious reasons, the Employer should contact E-Verify at
888-464-4218.
If an employee presents a DHS Form I-551 (Permanent Resident Card), Form I-766 (Employment Authorization Document), or U.S. Passport or Passport Card to complete Form I-9, the Employer agrees to make a photocopy of the document and to retain the photocopy with the employee’s Form I-9. The Employer will use the photocopy to verify the photo and to assist DHS with its review of photo mismatches that employees contest. DHS may in the future designate other documents that activate the photo screening tool.
Note: Subject only to the exceptions noted previously in this paragraph, employees still retain the right to present any List A, or List B and List C, document(s) to complete the Form I-9.
The Employer agrees to record the case verification number on the employee's Form I-9 or to print the screen containing the case verification number and attach it to the employee's Form I-9.

The Employer agrees that, although it participates in E-Verify, the Employer has a responsibility to complete, retain, and make available for inspection Forms I-9 that relate to its employees, or from other requirements of applicable regulations or laws, including the obligation to comply with the antidiscrimination requirements of section 274B of the INA with respect to Form I-9 procedures.

The following modified requirements are the only exceptions to an Employer’s obligation to not employ unauthorized workers and comply with the anti-discrimination provision of the INA: (1) List B identity documents must have photos, as described in paragraph 6 above; (2) When an Employer confirms the identity and employment eligibility of newly hired employee using E-Verify procedures, the Employer establishes a rebuttable presumption that it has not violated section 274A(a)(1)(A) of the Immigration and Nationality Act (INA) with respect to the hiring of that employee; (3) If the Employer receives a final nonconfirmation for an employee, but continues to employ that person, the Employer must notify DHS and the Employer is subject to a civil money penalty between $550 and $1,100 for each failure to notify DHS of continued employment following a final nonconfirmation; (4) If the Employer continues to employ an employee after receiving a final nonconfirmation, then the Employer is subject to a rebuttable presumption that it has knowingly

Company ID Number: 1650997

employed an unauthorized alien in violation of section 274A(a)(1)(A); and (5) no E-Verify participant is civilly or criminally liable under any law for any action taken in good faith based on information provided through the E-Verify.
DHS reserves the right to conduct Form I-9 compliance inspections, as well as any other enforcement or compliance activity authorized by law, including site visits, to ensure proper use of E-Verify.
The Employer is strictly prohibited from creating an E-Verify case before the employee has been hired, meaning that a firm offer of employment was extended and accepted and Form I-9 was completed. The Employer agrees to create an E-Verify case for new employees within three Employer business days after each employee has been hired (after both Sections 1 and 2 of Form I-9 have been completed), and to complete as many steps of the E-Verify process as are necessary according to the E-Verify User Manual. If E-Verify is temporarily unavailable, the three-day time period will be extended until it is again operational in order to accommodate the Employer's attempting, in good faith, to make inquiries during the period of unavailability.

The Employer agrees not to use E-Verify for pre-employment screening of job applicants, in support of any unlawful employment practice, or for any other use that this MOU or the E-Verify User Manual does not authorize.

The Employer must use E-Verify for all new employees. The Employer will not verify selectively and will not verify employees hired before the effective date of this MOU. Employers who are Federal contractors may qualify for exceptions to this requirement as described in Article II.B of this MOU.

The Employer agrees to follow appropriate procedures (see Article III below) regarding tentative nonconfirmations. The Employer must promptly notify employees in private of the finding and provide them with the notice and letter containing information specific to the employee’s E-Verify case. The Employer agrees to provide both the English and the translated notice and letter for employees with limited English proficiency to employees. The Employer agrees to provide written referral instructions to employees and instruct affected employees to bring the English copy of the letter to the SSA. The Employer must allow employees to contest the finding, and not take adverse action against employees if they choose to contest the finding, while their case is still pending. Further, when employees contest a tentative nonconfirmation based upon a photo mismatch, the Employer must take additional steps (see Article III.B. below) to contact DHS with information necessary to resolve the challenge.

The Employer agrees not to take any adverse action against an employee based upon the employee's perceived employment eligibility status while SSA or DHS is processing the verification request unless the Employer obtains knowledge (as defined in 8 C.F.R. § 274a.1(l)) that the employee is not work authorized. The Employer understands that an initial inability of the SSA or DHS automated verification system to verify work authorization, a tentative nonconfirmation, a case in continuance (indicating the need for additional time for the government to resolve a case), or the finding of a photo mismatch, does not establish, and should not be interpreted as, evidence that the employee is not work authorized. In any of such cases, the employee must be provided a full and fair opportunity to contest the finding, and if he or she does so, the employee may not be terminated or suffer any adverse employment consequences based upon the employee’s perceived employment eligibility status

Company ID Number: 1650997

(including denying, reducing, or extending work hours, delaying or preventing training, requiring an employee to work in poorer conditions, withholding pay, refusing to assign the employee to a Federal contract or other assignment, or otherwise assuming that he or she is unauthorized to work) until and unless secondary verification by SSA or DHS has been completed and a final nonconfirmation has been issued. If the employee does not choose to contest a tentative nonconfirmation or a photo mismatch or if a secondary verification is completed and a final nonconfirmation is issued, then the Employer can find the employee is not work authorized and terminate the employee’s employment. Employers or employees with questions about a final nonconfirmation may call E-Verify at 1-888-464- 4218 (customer service) or 1-888-897-7781 (worker hotline).

The Employer agrees to comply with Title VII of the Civil Rights Act of 1964 and section 274B of the INA as applicable by not discriminating unlawfully against any individual in hiring, firing, employment eligibility verification, or recruitment or referral practices because of his or her national origin or citizenship status, or by committing discriminatory documentary practices. The Employer understands that such illegal practices can include selective verification or use of E-Verify except as provided in part D below, or discharging or refusing to hire employees because they appear or sound “foreign” or have received tentative nonconfirmations. The Employer further understands that any violation of the immigration-related unfair employment practices provisions in section 274B of the INA could subject the Employer to civil penalties, back pay awards, and other sanctions, and violations of Title VII could subject the Employer to back pay awards, compensatory and punitive damages. Violations of either section 274B of the INA or Title VII may also lead to the termination of its participation in E-Verify. If the Employer has any questions relating to the anti-discrimination provision, it should contact OSC at 1-800-255-8155 or 1-800-237-2515 (TDD).

The Employer agrees that it will use the information it receives from E-Verify only to confirm the employment eligibility of employees as authorized by this MOU. The Employer agrees that it will safeguard this information, and means of access to it (such as PINS and passwords), to ensure that it is not used for any other purpose and as necessary to protect its confidentiality, including ensuring that it is not disseminated to any person other than employees of the Employer who are authorized to perform the Employer's responsibilities under this MOU, except for such dissemination as may be authorized in advance by SSA or DHS for legitimate purposes.

The Employer agrees to notify DHS immediately in the event of a breach of personal information. Breaches are defined as loss of control or unauthorized access to E-Verify personal data. All suspected or confirmed breaches should be reported by calling 1-888-464-4218 or via email at
E-Verify@dhs.gov. Please use “Privacy Incident – Password” in the subject line of your email when sending a breach report to E-Verify.

The Employer acknowledges that the information it receives from SSA is governed by the Privacy Act (5 U.S.C. § 552a(i)(1) and (3)) and the Social Security Act (42 U.S.C. 1306(a)). Any person who obtains this information under false pretenses or uses it for any purpose other than as provided for in this MOU may be subject to criminal penalties.

The Employer agrees to cooperate with DHS and SSA in their compliance monitoring and evaluation of E-Verify, which includes permitting DHS, SSA, their contractors and other agents, upon

Company ID Number: 1650997

reasonable notice, to review Forms I-9 and other employment records and to interview it and its employees regarding the Employer’s use of E-Verify, and to respond in a prompt and accurate manner to DHS requests for information relating to their participation in E-Verify.

The Employer shall not make any false or unauthorized claims or references about its participation in E-Verify on its website, in advertising materials, or other media. The Employer shall not describe its services as federally-approved, federally-certified, or federally-recognized, or use language with a similar intent on its website or other materials provided to the public. Entering into this MOU does not mean that E-Verify endorses or authorizes your E-Verify services and any claim to that effect is false.

The Employer shall not state in its website or other public documents that any language used therein has been provided or approved by DHS, USCIS or the Verification Division, without first obtaining the prior written consent of DHS.

The Employer agrees that E-Verify trademarks and logos may be used only under license by DHS/USCIS (see M-795 (Web)) and, other than pursuant to the specific terms of such license, may not be used in any manner that might imply that the Employer’s services, products, websites, or publications are sponsored by, endorsed by, licensed by, or affiliated with DHS, USCIS, or E-Verify.

The Employer understands that if it uses E-Verify procedures for any purpose other than as authorized by this MOU, the Employer may be subject to appropriate legal action and termination of its participation in E-Verify according to this MOU.

RESPONSIBILITIES OF FEDERAL CONTRACTORS
If the Employer is a Federal contractor with the FAR E-Verify clause subject to the employment verification terms in Subpart 22.18 of the FAR, it will become familiar with and comply with the most current version of the E-Verify User Manual for Federal Contractors as well as the E-Verify Supplemental Guide for Federal Contractors.

In addition to the responsibilities of every employer outlined in this MOU, the Employer understands that if it is a Federal contractor subject to the employment verification terms in Subpart 22.18 of the FAR it must verify the employment eligibility of any “employee assigned to the contract” (as defined in FAR 22.1801). Once an employee has been verified through E-Verify by the Employer, the Employer may not create a second case for the employee through E-Verify.

An Employer that is not enrolled in E-Verify as a Federal contractor at the time of a contract award must enroll as a Federal contractor in the E-Verify program within 30 calendar days of contract award and, within 90 days of enrollment, begin to verify employment eligibility of new hires using E-Verify. The Employer must verify those employees who are working in the United States, whether or not they are assigned to the contract. Once the Employer begins verifying new hires, such verification of new hires must be initiated within three business days after the hire date. Once enrolled in E-Verify as a Federal contractor, the Employer must begin verification of employees assigned to the contract within 90 calendar days after the date of enrollment or within 30 days of an employee’s assignment to the contract, whichever date is later.

Company ID Number: 1650997

Employers enrolled in E-Verify as a Federal contractor for 90 days or more at the time of a contract award must use E-Verify to begin verification of employment eligibility for new hires of the Employer who are working in the United States, whether or not assigned to the contract, within three business days after the date of hire. If the Employer is enrolled in E-Verify as a Federal contractor for 90 calendar days or less at the time of contract award, the Employer must, within 90 days of enrollment, begin to use E-Verify to initiate verification of new hires of the contractor who are working in the United States, whether or not assigned to the contract. Such verification of new hires must be initiated within three business days after the date of hire. An Employer enrolled as a Federal contractor in E-Verify must begin verification of each employee assigned to the contract within 90 calendar days after date of contract award or within 30 days after assignment to the contract, whichever is later.
Federal contractors that are institutions of higher education (as defined at 20 U.S.C. 1001(a)), state or local governments, governments of Federally recognized Indian tribes, or sureties performing under a takeover agreement entered into with a Federal agency under a performance bond may choose to only verify new and existing employees assigned to the Federal contract. Such Federal contractors may, however, elect to verify all new hires, and/or all existing employees hired after November 6, 1986. Employers in this category must begin verification of employees assigned to the contract within 90 calendar days after the date of enrollment or within 30 days of an employee’s assignment to the contract, whichever date is later.
Upon enrollment, Employers who are Federal contractors may elect to verify employment eligibility of all existing employees working in the United States who were hired after November 6, 1986, instead of verifying only those employees assigned to a covered Federal contract. After enrollment, Employers must elect to verify existing staff following DHS procedures and begin
E-Verify verification of all existing employees within 180 days after the election.
The Employer may use a previously completed Form I-9 as the basis for creating an E-Verify case for an employee assigned to a contract as long as:
That Form I-9 is complete (including the SSN) and complies with Article II.A.6,
The employee’s work authorization has not expired, and
The Employer has reviewed the Form I-9 information either in person or in communications with the employee to ensure that the employee’s Section 1, Form I-9 attestation has not changed (including, but not limited to, a lawful permanent resident alien having become a naturalized U.S. citizen).
The Employer shall complete a new Form I-9 consistent with Article II.A.6 or update the previous Form I-9 to provide the necessary information if:
The Employer cannot determine that Form I-9 complies with Article II.A.6,
The employee’s basis for work authorization as attested in Section 1 has expired or changed, or
The Form I-9 contains no SSN or is otherwise incomplete.
Note: If Section 1 of Form I-9 is otherwise valid and up-to-date and the form otherwise complies with

Company ID Number: 1650997

Article II.C.5, but reflects documentation (such as a U.S. passport or Form I-551) that expired after completing Form I-9, the Employer shall not require the production of additional documentation, or use the photo screening tool described in Article II.A.5, subject to any additional or superseding instructions that may be provided on this subject in the E-Verify User Manual.
The Employer agrees not to require a second verification using E-Verify of any assigned employee who has previously been verified as a newly hired employee under this MOU or to authorize verification of any existing employee by any Employer that is not a Federal contractor based on this Article.
The Employer understands that if it is a Federal contractor, its compliance with this MOU is a performance requirement under the terms of the Federal contract or subcontract, and the Employer consents to the release of information relating to compliance with its verification responsibilities under this MOU to contracting officers or other officials authorized to review the Employer’s compliance with Federal contracting requirements.

RESPONSIBILITIES OF SSA
SSA agrees to allow DHS to compare data provided by the Employer against SSA’s database. SSA sends DHS confirmation that the data sent either matches or does not match the information in SSA’s database.

SSA agrees to safeguard the information the Employer provides through E-Verify procedures. SSA also agrees to limit access to such information, as is appropriate by law, to individuals responsible for the verification of Social Security numbers or responsible for evaluation of E-Verify or such other persons or entities who may be authorized by SSA as governed by the Privacy Act (5 U.S.C. § 552a), the Social Security Act (42 U.S.C. 1306(a)), and SSA regulations (20 CFR Part 401).

SSA agrees to provide case results from its database within three Federal Government work days of the initial inquiry. E-Verify provides the information to the Employer.

SSA agrees to update SSA records as necessary if the employee who contests the SSA tentative nonconfirmation visits an SSA field office and provides the required evidence. If the employee visits an SSA field office within the eight Federal Government work days from the date of referral to SSA, SSA agrees to update SSA records, if appropriate, within the eight-day period unless SSA determines that more than eight days may be necessary. In such cases, SSA will provide additional instructions to the employee. If the employee does not visit SSA in the time allowed, E-Verify may provide a final nonconfirmation to the employer.

Note: If an Employer experiences technical problems, or has a policy question, the employer should contact E-Verify at 1-888-464-4218.
RESPONSIBILITIES OF DHS
DHS agrees to provide the Employer with selected data from DHS databases to enable the Employer to conduct, to the extent authorized by this MOU:

Automated verification checks on alien employees by electronic means, and

Company ID Number: 1650997

Photo verification checks (when available) on employees.
DHS agrees to assist the Employer with operational problems associated with the Employer's participation in E-Verify. DHS agrees to provide the Employer names, titles, addresses, and telephone numbers of DHS representatives to be contacted during the E-Verify process.

DHS agrees to provide to the Employer with access to E-Verify training materials as well as an
E-Verify User Manual that contain instructions on E-Verify policies, procedures, and requirements for both SSA and DHS, including restrictions on the use of E-Verify.

DHS agrees to train Employers on all important changes made to E-Verify through the use of mandatory refresher tutorials and updates to the E-Verify User Manual. Even without changes to E-Verify, DHS reserves the right to require employers to take mandatory refresher tutorials.

DHS agrees to provide to the Employer a notice, which indicates the Employer's participation in
E-Verify. DHS also agrees to provide to the Employer anti-discrimination notices issued by the Office of Special Counsel for Immigration-Related Unfair Employment Practices (OSC), Civil Rights Division,
U.S. Department of Justice.

DHS agrees to issue each of the Employer’s E-Verify users a unique user identification number and password that permits them to log in to E-Verify.

DHS agrees to safeguard the information the Employer provides, and to limit access to such information to individuals responsible for the verification process, for evaluation of E-Verify, or to such other persons or entities as may be authorized by applicable law. Information will be used only to verify the accuracy of Social Security numbers and employment eligibility, to enforce the INA and Federal criminal laws, and to administer Federal contracting requirements.

DHS agrees to provide a means of automated verification that provides (in conjunction with SSA verification procedures) confirmation or tentative nonconfirmation of employees' employment eligibility within three Federal Government work days of the initial inquiry.

DHS agrees to provide a means of secondary verification (including updating DHS records) for employees who contest DHS tentative nonconfirmations and photo mismatch tentative nonconfirmations. This provides final confirmation or nonconfirmation of the employees' employment eligibility within 10 Federal Government work days of the date of referral to DHS, unless DHS determines that more than 10 days may be necessary. In such cases, DHS will provide additional verification instructions.

ARTICLE III
REFERRAL OF INDIVIDUALS TO SSA AND DHS

REFERRAL TO SSA
If the Employer receives a tentative nonconfirmation issued by SSA, the Employer must print the notice as directed by E-Verify. The Employer must promptly notify employees in private of the finding and provide them with the notice and letter containing information specific to the employee’s E-Verify

Company ID Number: 1650997

case. The Employer also agrees to provide both the English and the translated notice and letter for employees with limited English proficiency to employees. The Employer agrees to provide written referral instructions to employees and instruct affected employees to bring the English copy of the letter to the SSA. The Employer must allow employees to contest the finding, and not take adverse action against employees if they choose to contest the finding, while their case is still pending.

The Employer agrees to obtain the employee’s response about whether he or she will contest the tentative nonconfirmation as soon as possible after the Employer receives the tentative nonconfirmation. Only the employee may determine whether he or she will contest the tentative nonconfirmation.

After a tentative nonconfirmation, the Employer will refer employees to SSA field offices only as directed by E-Verify. The Employer must record the case verification number, review the employee information submitted to E-Verify to identify any errors, and find out whether the employee contests the tentative nonconfirmation. The Employer will transmit the Social Security number, or any other corrected employee information that SSA requests, to SSA for verification again if this review indicates a need to do so.

The Employer will instruct the employee to visit an SSA office within eight Federal Government work days. SSA will electronically transmit the result of the referral to the Employer within 10 Federal Government work days of the referral unless it determines that more than 10 days is necessary.

While waiting for case results, the Employer agrees to check the E-Verify system regularly for case updates.

The Employer agrees not to ask the employee to obtain a printout from the Social Security Administration number database (the Numident) or other written verification of the SSN from the SSA.

REFERRAL TO DHS
If the Employer receives a tentative nonconfirmation issued by DHS, the Employer must promptly notify employees in private of the finding and provide them with the notice and letter containing information specific to the employee’s E-Verify case. The Employer also agrees to provide both the English and the translated notice and letter for employees with limited English proficiency to employees. The Employer must allow employees to contest the finding, and not take adverse action against employees if they choose to contest the finding, while their case is still pending.

The Employer agrees to obtain the employee’s response about whether he or she will contest the tentative nonconfirmation as soon as possible after the Employer receives the tentative nonconfirmation. Only the employee may determine whether he or she will contest the tentative nonconfirmation.

The Employer agrees to refer individuals to DHS only when the employee chooses to contest a tentative nonconfirmation.

If the employee contests a tentative nonconfirmation issued by DHS, the Employer will instruct the

Company ID Number: 1650997

employee to contact DHS through its toll-free hotline (as found on the referral letter) within eight Federal Government work days.

If the Employer finds a photo mismatch, the Employer must provide the photo mismatch tentative nonconfirmation notice and follow the instructions outlined in paragraph 1 of this section for tentative nonconfirmations, generally.

The Employer agrees that if an employee contests a tentative nonconfirmation based upon a photo mismatch, the Employer will send a copy of the employee’s Form I-551, Form I-766, U.S. Passport, or passport card to DHS for review by:

Scanning and uploading the document, or
Sending a photocopy of the document by express mail (furnished and paid for by the employer).
The Employer understands that if it cannot determine whether there is a photo match/mismatch, the Employer must forward the employee’s documentation to DHS as described in the preceding paragraph. The Employer agrees to resolve the case as specified by the DHS representative who will determine the photo match or mismatch.

DHS will electronically transmit the result of the referral to the Employer within 10 Federal Government work days of the referral unless it determines that more than 10 days is necessary.

While waiting for case results, the Employer agrees to check the E-Verify system regularly for case updates.

ARTICLE IV SERVICE PROVISIONS
A. NO SERVICE FEES
SSA and DHS will not charge the Employer for verification services performed under this MOU. The Employer is responsible for providing equipment needed to make inquiries. To access E-Verify, an Employer will need a personal computer with Internet access.

ARTICLE V MODIFICATION AND TERMINATION
MODIFICATION
This MOU is effective upon the signature of all parties and shall continue in effect for as long as the SSA and DHS operates the E-Verify program unless modified in writing by the mutual consent of all parties.

Any and all E-Verify system enhancements by DHS or SSA, including but not limited to E-Verify checking against additional data sources and instituting new verification policies or procedures, will be covered under this MOU and will not cause the need for a supplemental MOU that outlines these changes.

Company ID Number: 1650997

TERMINATION
The Employer may terminate this MOU and its participation in E-Verify at any time upon 30 days prior written notice to the other parties.

Notwithstanding Article V, part A of this MOU, DHS may terminate this MOU, and thereby the Employer’s participation in E-Verify, with or without notice at any time if deemed necessary because of the requirements of law or policy, or upon a determination by SSA or DHS that there has been a breach of system integrity or security by the Employer, or a failure on the part of the Employer to comply with established E-Verify procedures and/or legal requirements. The Employer understands that if it is a Federal contractor, termination of this MOU by any party for any reason may negatively affect the performance of its contractual responsibilities. Similarly, the Employer understands that if it is in a state where E-Verify is mandatory, termination of this by any party MOU may negatively affect the Employer’s business.

An Employer that is a Federal contractor may terminate this MOU when the Federal contract that requires its participation in E-Verify is terminated or completed. In such cases, the Federal contractor must provide written notice to DHS. If an Employer that is a Federal contractor fails to provide such notice, then that Employer will remain an E-Verify participant, will remain bound by the terms of this MOU that apply to non-Federal contractor participants, and will be required to use the E-Verify procedures to verify the employment eligibility of all newly hired employees.

The Employer agrees that E-Verify is not liable for any losses, financial or otherwise, if the Employer is terminated from E-Verify.

ARTICLE VI PARTIES
Some or all SSA and DHS responsibilities under this MOU may be performed by contractor(s), and SSA and DHS may adjust verification responsibilities between each other as necessary. By separate agreement with DHS, SSA has agreed to perform its responsibilities as described in this MOU.
Nothing in this MOU is intended, or should be construed, to create any right or benefit, substantive or procedural, enforceable at law by any third party against the United States, its agencies, officers, or employees, or against the Employer, its agents, officers, or employees.
The Employer may not assign, directly or indirectly, whether by operation of law, change of control or merger, all or any part of its rights or obligations under this MOU without the prior written consent of DHS, which consent shall not be unreasonably withheld or delayed. Any attempt to sublicense, assign, or transfer any of the rights, duties, or obligations herein is void.
Each party shall be solely responsible for defending any claim or action against it arising out of or related to E-Verify or this MOU, whether civil or criminal, and for any liability wherefrom, including (but not limited to) any dispute between the Employer and any other person or entity regarding the applicability of Section 403(d) of IIRIRA to any action taken or allegedly taken by the Employer.
The Employer understands that its participation in E-Verify is not confidential information and may be disclosed as authorized or required by law and DHS or SSA policy, including but not limited to,

Company ID Number: 1650997

Congressional oversight, E-Verify publicity and media inquiries, determinations of compliance with Federal contractual requirements, and responses to inquiries under the Freedom of Information Act (FOIA).
The individuals whose signatures appear below represent that they are authorized to enter into this MOU on behalf of the Employer and DHS respectively. The Employer understands that any inaccurate statement, representation, data or other information provided to DHS may subject the Employer, its subcontractors, its employees, or its representatives to: (1) prosecution for false statements pursuant to 18 U.S.C. 1001 and/or; (2) immediate termination of its MOU and/or; (3) possible debarment or suspension.
The foregoing constitutes the full agreement on this subject between DHS and the Employer.
To be accepted as an E-Verify participant, you should only sign the Employer’s Section of the signature page. If you have any questions, contact E-Verify at 1-888-464-4218.

Company ID Number: 1650997

Approved by:

Employer
Olympus Community Development District	
Name (Please Type or Print)
Lynne Mullins	Title	
Signature

Electronically Signed	Date

03/05/2021	
Department of Homeland Security – Verification Division	
Name (Please Type or Print)
USCIS Verification Division	Title	
Signature
Electronically Signed	Date
03/05/2021	

Company ID Number: 1650997

Information Required for the E-Verify Program

Information relating to your Company:	

Company Name	Olympus Community Development District	

Company Facility Address	12051 CORPORATE BLVD
ORLANDO, FL 32817	

Company Alternate Address		
County or Parish	
ORANGE	
Employer Identification Number	
352682622	
North American Industry Classification Systems Code	
925	

Parent Company		
Number of Employees	1 to 4	
Number of Sites Verified for	1	

Company ID Number: 1650997

Are you verifying for more than 1 site? If yes, please provide the number of sites verified for in each State:

FLORIDA	1 site(s)

Company ID Number: 1650997

Information relating to the Program Administrator(s) for your Company on policy questions or operational problems:
Name	Lynne Mullins Phone Number	(407) 723 - 5935 Fax Number
Email Address	mullinsl@pfm.com

Company ID Number: 1650997

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Olympus Community Development District

FY 2020 Audit Engagement Letter with CRI

l:G::

CRI IN GRAM
CPAs and Advisors

Carr, Riggs & Ingram, LLC Certified Public Accountants 500 Grand Boulevard
Suite 210
Miramar Beach, Florida 32550

October 8, 2020

(850) 837-3141
(850) 654-4619 (fax)
CRlcpa.com

Olympus Community Development District c/o PFM Group Consulting LLC
12051 Corporate Blvd.
Orlando, FL, 32817

We are pleased to confirm our understanding of the services we are to provide Olympus Community Development  District for  the  year ended September  30, 2020. We will audit the financial statements of the governmental activities, each major fund, and the aggregate remaining fund information, including the related notes to the financial statements, which collectively comprise the basic financial statements of Olympus Community Development District as of and for the year ended September 30, 2020. Accounting standards generally accepted in the United States of America provide for certain required supplementary information (RSI), such as management's discussion and analysis (MD&A), to supplement Olympus Community Development District's basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. As part of our engagement, we will apply certain limited procedures to Olympus Community Development District's RSI in accordance with auditing standards generally accepted in the United States of America. These limited procedures will consist of inquiries of management regarding the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We will not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. The following RSI is required by U.S. generally accepted accounting principles and will be subjected to certain limited procedures, but will not be audited:

Management's Discussion and Analysis.
Budgetary Comparison Schedule.

Audit Objectives

The objective of our audit is the expression of opinions as to whether your financial statements are fairly presented, in all material respects, in conformity with U.S. generally accepted accounting principles and to report on the fairness of the supplementary information referred to in the second paragraph when considered in relation to the financial statements as a whole. Our audit will be conducted in accordance with auditing standards generally accepted in the United States of America and the standards for financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, and will include tests of the accounting records of Olympus Community Development District and other procedures we consider necessary to enable us to express such opinions. We will issue a written report upon completion of our audit of Olympus

Community  Development  District's financial  statements.  Our report will be addressed to  the  Board of Supervisors of Olympus Community Development District. We cannot provide assurance that unmodified opinions will be expressed. Circumstances may arise in which it is necessary for us to modify our opinions or add emphasis-of-matter or other-matter paragraphs. If our opinions are other than unmodified, we will discuss the reasons  with you in advance. If,  for  any reason, we are  unable to complete the audit or are unable to form or have not formed opinions, we may decline to express opinions or issue reports, or may withdraw from this engagement.

We will also provide a report (that does not include an opinion) on internal control related to the financial statements and compliance with the provisions of laws, regulations, contracts, and grant
agreements, noncompliance with which could have a material effect on the financial statements as required by Government Auditing Standards. The report on internal control and on compliance and other matters will include a paragraph that states (1) that the purpose of the report is solely to describe the  scope of  testing of internal control and compliance, and the  results of that testing, and not to provide an opinion on the effectiveness of the entity's internal control on compliance, and (2) that the report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the entity's internal control and compliance. The paragraph will also state
that the report is not suitable for any other purpose. If during our audit we become aware that Olympus Community Development District is subject to an audit requirement that is not encompassed in the terms of this engagement, we will communicate to management and those charged with governance that an audit in accordance with U.S. generally accepted auditing standards and the standards for financial audits contained in Government Auditing Standards may not satisfy the relevant legal, regulatory, or contractual requirements.

Audit Procedures-General

An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; therefore, our audit will involve judgment about the number of transactions to be examined and the areas to be tested. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We will plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether from (1) errors, (2) fraudulent financial reporting, (3) misappropriation of assets, or  (4) violations of  laws or governmental  regulations  that are attributable to the government or to acts by management or employees acting on behalf of the government. Because the determination of waste and abuse is subjective, Government Auditing Standards do not expect auditors to perform specific procedures to detect waste or abuse in financial audits nor do they expect auditors to provide reasonable assurance of detecting waste and abuse.

Because of the inherent limitations of an audit, combined with the inherent limitations of internal control, and because we  will not perform a detailed examination of  all transactions, an unavoidable risk exists that some material misstatements may exist and not be detected by us, even though the audit is properly planned and performed in accordance with U.S. generally accepted auditing
standards and Government  Auditing Standards. In addition, an audit is not  designed to  detect
immaterial misstatements or violations of laws or governmental regulations that do not have a direct and material effect on the financial statements. However, we will inform the appropriate level of

management of any material errors, fraudulent financial reporting, or misappropriation of assets that comes to our  attention. We will also inform the appropriate level of management of any violations of laws or governmental regulations that come to our attention, unless clearly inconsequential, and of any material abuse that comes to our attention. Our responsibility as auditors is limited to the period covered by our audit and does not extend to later periods for which we are not engaged as auditors.

Our procedures will include tests of documentary evidence supporting the transactions recorded in the accounts, and may include tests of the physical existence of inventories, and direct confirmation of receivables and certain other assets and liabil it ies by correspondence with selected individuals, funding sources, creditors, and financial institutions. We will request written representations from your attorneys as part of the engagement, and they may bill you for responding to this inquiry. At the conclusion of our audit, we will require certain written representations from you about your responsibilities for the financial statements; compliance with laws, regulations, contracts, and grant agreements; and other responsibilities required by generally accepted auditing standards.

Audit Procedures-Internal Control

Our audit will include obtaining an understanding of the government and its environment, includ ing internal control, sufficient to assess the risks of material misstatement of the financial statements and to design the nature, timing, and extent of further audit procedures. Tests of controls may be performed to test the effectiveness of certain controls that we consider relevant to preventing and detecting errors and fraud that are material to the financial statements and to preventing and detecting misstatements resulting from illegal acts and other noncompliance matters that have a direct and material effect on the financial statements. Our tests, if performed, will be less in scope than would be necessary to render an opinion on internal control and, accordingly, no opinion will be
expressed in our report on internal control issued pursuant to Government Auditing Standards.

An audit is not  designed to  provide assurance on internal control or to identify significant deficiencies or material weaknesses. Accordingly, we will express no such opinion. However, during the audit, we will communicate to management and those charged with governance internal control related matters that are required to be communicated under AICPA professional standards and Government
Auditing Standards.

Audit Procedures-Compliance

As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we will perform tests of Olympus Community Development District's compliance with the provisions of applicable laws, regulations, contracts, agreements, and grants. However, the
objective of our audit will not be to provide an opinion on overall compliance and we will not express such an opinion in our report on compliance issued pursuant to Government Auditing Standards.

Other Services

We will also assist in preparing the financial statements and related notes of Olympus Community Development District in conformity with U.S. generally accepted accounting principles based on information provided by you. These nonaudit services do not constitute an audit under Government Auditing Standards and such services will not be conducted in accordance with Government Auditing Standards. We will perform the services in accordance with applicable professional standards. The other services are limited to the financial statement services previously defined. We, in our sole professional judgment, reserve the right to refuse to perform any procedure or take any action that could be construed as assuming management responsibilities.

We will also examine the District's compliance with the requirements of Section 218.415, Florida Statutes, Local Government Investment Policies, as of September 30, 2020. Our examination will be conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Accordingly, it will include examining, on a test basis, your records and other procedures to obtain evidence necessary to enable us to express our opinion. Our report will be addressed to the Board of Supervisors of the District. We cannot provide assurance  that  an unmodified opinion will be expressed. Circumstances may arise in which it is necessary for  us to modify our opinion. If our opinion is other than unmodified, we will discuss the reasons with you in advance. If, for any reason, we are unable to complete the examination or are unable to form or have not formed an opinion, we may decline to express an opinion or may withdraw from this engagement.

Management Responsibilities

Management is responsible for designing, implementing, establishing, and maintaining effective internal controls relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error, including evaluating and monitoring ongoing activities to help ensure that appropriate goals and objectives are met; following laws and regulations; and ensuring that management and financial information is reliable and properly reported. Management is also responsible for implementing systems designed to achieve compliance with applicable laws, regulations, contracts, and grant agreements. You are also responsible for the selection and application of accounting principles, for the preparation and fair presentation of the financial statements and all accompanying information in conformity with U.S. generally accepted accounting principles, and for compliance with applicable laws and regulations and the provisions of contracts and grant agreements.

Management  is also responsible  for  making all financial records and related information available to us and for  the accuracy and completeness of that information. You are also responsible for  providing us with (1) access to all  information  of which you are aware that is relevant to  the  preparation  and fair presentation of the financial statements, (2) additional information that we may request for the purpose of the audit, and (3) unrestricted access to persons within the government from whom we determine it necessary to obtain audit evidence.

Your responsibilities include adjusting the  financial statements to correct material misstatements and for confirming to us in the written representation letter that the effects of any uncorrected misstatements aggregated by us during the current engagement and pertaining to the latest period

presented are immaterial, both individually and in the aggregate, to the financial statements taken as a whole.

You are responsible for the design and implementation of programs and controls to prevent and detect fraud, and for informing us about all known or suspected fraud affecting the government involving (1) management, (2) employees who have significant roles in internal control, and (3) others where the fraud could have a material effect on the financial statements. Your responsibilities include informing us of your knowledge of any allegations of fraud or suspected fraud affecting the government received in communications from employees, former employees, granters, regulators, or others. In addition, you are responsible for identifying and ensuring that the government complies with applicable laws, regulations, contracts, agreements, and grants and for taking timely and appropriate steps to  remedy fraud and noncompliance  with provisions of laws, regulations, contracts or grant agreements that we report.

You are responsible for the preparation of the supplementary information, which we have been engaged to report on, in conformity with U.S. generally accepted accounting principles. You agree to include our report on the supplementary information in any document that contains and indicates that we have reported on the supplementary information. You also agree to include the audited financial statements with any presentation of the supplementary information that includes our report thereon. Your responsibilities include acknowledging to us in the written representation letter that
you are responsible for presentation of the supplementary information in accordance with GAAP;
you believe the supplementary information, including its form and content, is fairly presented in accordance with GAAP; (3) the methods of measurement or presentation have not changed from those used in the prior period (or, if they have changed, the reasons for such changes); and (4) you have disclosed to us any significant assumptions or interpretations underlying the measurement or presentation of the supplementary information.

Management is responsible for establishing and maintaining a process for tracking the status of audit findings and recommendations. Management is also responsible for identifying and providing report copies of previous financial audits, attestation engagements, performance audits or other studies related to the objectives discussed in the Audit Objectives section of this letter. This responsibility includes relaying to us corrective actions taken to address significant findings and recommendations resulting from those audits, attestation engagements, performance audits, or other studies. You are also responsible for providing management's views on our current findings, conclusions, and recommendations, as well as your planned corrective actions, for the report, and for the timing and format for providing that information.

You agree to assume all management responsibilities relating to the financial statements and related notes and any other nonaudit services we provide. You will be required to acknowledge in the management representation letter our assistance with preparation of the financial statements and related notes and that you have reviewed and approved the  financial statements and related notes prior to their issuance and have accepted responsibility for them. Further, you agree to oversee the nonaudit services by designating an individual, preferably from senior management, with suitable skill, knowledge, or experience; evaluate the adequacy and results of those services; and accept responsibility for them.

Engagement Administration, Fees, and Other

We understand that your employees will prepare all cash, accounts receivable, or other confirmations we request and will locate any documents selected by us for testing.

We will provide copies of our reports to the District; however, management is responsible for distribution of the reports and the financial statements. Unless restricted by law or regulation, or containing privileged and confidential information, copies of our reports are to be made available for public inspection.

The audit documentation for this engagement is the property of Carr, Riggs & Ingram, LLC and constitutes confidential information. However, subject to applicable laws and regulations, audit documentation and appropriate individuals will be made available upon request and in a timely manner to the Florida Auditor General or its designee, a federal agency providing direct or indirect funding, or the U.S. Government Accountability Office for purposes of a quality review of the audit, to resolve audit findings, or to carry out oversight responsibilities. We will notify you of any such request. If requested, access to  such audit documentation will be provided under the supervision of CRI personnel. Furthermore, upon request, we may provide copies of selected audit documentation to the aforementioned parties. These parties may intend, or decide, to distribute the copies or information contained therein to others, including other governmental agencies.

Public Records. Auditor shall, pursuant to and in accordance with Section 119.0701, Florida Statutes, comply with the public records laws of the State of Florida, and specifically shall:

Keep and maintain public records required by the District to perform the services or work set forth in this Agreement; and

Upon the request of the District's custodian of public records, provide the District with a copy of the requested records or allow the records to be inspected or copied within a reasonable time at a cost that does not exceed the cost provided in Chapter 119, Florida Statutes, or as otherwise provided by law; and

Ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except as authorized by law for the duration of the contract term and following completion of the Agreement if the Auditor does not transfer the records to the District; and

Upon completion of the Agreement, transfer, at no cost to the  District, all public records in possession of the  Auditor or keep and maintain public records required by the District to perform the service or work provided for in this Agreement. If the Auditor transfers all public records to the District upon completion of the Agreement, the Auditor shall destroy (except as required by regulation or professional standard to maintain such records) any duplicate public records that are exempt or confidential and exempt from public disclosure requirements. If the Auditor keeps and maintains public records upon completion of the Agreement, the Auditor shall meet all applicable requirements for retaining public records. All records stored electronically must be provided to the

District, upon request from the District's custodian of public records, in a format that is compatible with the information technology systems of the District.

Auditor acknowledges that any requests to inspect or copy public records relating to this Agreement must be made directly to the District pursuant to Section 119.0701(3), Florida Statutes.  If notified by the District of a public records request for records not in the possession of the District but  in possession of the Auditor, the Auditor shall provide such records to the District or allow the records to be inspected or copied within a reasonable time. Auditor acknowledges that should Auditor fail to provide the public records to the District within a reasonable time, Auditor  may be subject to penalties pursuant to Section 119.10, Florida Statutes.

IF THE AUDITOR HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE AUDITOR'S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS AGREEMENT/CONTRACT, THE AUDITOR MAY CONTACT THE CUSTODIAN OF PUBLIC RECORDS FOR THE DISTRICT AT:

PFM Group Consulting, LLC 12051 Corporate Blvd.
Orlando, FL, 32817
TELEPHONE: (407)723-5900
EMAIL: mullinsl@pfm.com

The audit documentation for this engagement will be retained for a m in im um of five years after the report release date or for any additional period requested by the Florida Auditor General. If we are aware that a federal awarding agency or auditee is contesting an audit finding, we will contact the party(ies) contesting the audit finding for guidance prior to destroying the audit documentation.

We expect to begin our audit on approximately January 1, 2021 and to issue our reports no later than April 30, 2021. Alan Jowers is the engagement partner and is responsible for supervising the engagement and signing the reports or authorizing another individual to sign them.

Our fee for these services will be at  our  standard hourly rates except that  we agree that our fee will not exceed $5,000. Our standard hourly rates vary according to the degree of responsibility involved and the experience level of the  personnel assigned to  your audit. This fee  quote is based in part on the fact that the District has not yet issued bonds or other debt instruments to finance capital asset acquisition and construction. In the event the District issues such debt instruments, the audit fee will increase by an amount not to exceed $3,000. Our invoices for these fees will be rendered each month as work progresses and are payable on presentation. Invoices will be submitted in sufficient detail to demonstrate compliance with the terms of this agreement. In accordance with our firm policies, work may be suspended if your account becomes 30 days or more overdue and may not be resumed unti l your  account  is paid in full. If we elect to  terminate  our services for  nonpayment,  our engagement will be deemed to  have been completed upon written notification of termination, even if we have not completed our report. You will be obligated to compensate us for all time expended and to reimburse us for all out-of-pocket costs through the date of termination. The above fee is based on anticipated cooperation from your personnel and the  assumption that unexpected circumstances will not be encountered during the audit. If significant additional time is necessary, we will discuss it with

you and arrive at a new fee estimate before we incur the additional co st s. CRI may terminate this agreement with cause by providing thirty (30) days written notice to the District. The District may terminate this agreement  with or without cause by  providing thirty (30)  days written notice to  CRI. The District will be obligated to  pay al l invoices fo r serv ices rendered  prior to  the date of the notice of termination.

Dispute Resolution

In the event of a dispute between the parties which arises out of or relates to this contract or engagement letter, the breach thereof or the services provided or to be provided hereunder, if the dispute cannot be settled through negotiat ion , the parties agree that before initiating arbit rat ion , litigation or other dispute resolution procedure, they will first try, in good faith, to resolve the dispute through non-binding mediat ion . All  parties agree that an alternative  form of dispute resolution shall not be undertaken by either party until the expirat ion of  fifteen (15) calendar days following notice being provided  to  the  other  party indicating that the dispute  cannot  be settled through mediation. The mediation  will be adm in ist ered  by the  American  Arbitration  Association  under  its  Dispute
Resolution Rules for Professional Accounting and Related Services Dis putes .  The  costs  of  any
mediat ion proceedings shall be sha r ed equally by all part ies.

Limitation of Liability

Except as provided in this agreement, CRI sha ll not be liable for incidental, consequential, exemplary, special, punitive or ancillary damages of any kind alleged as a result of any cause of action from this agreement, whether arising out  of breach of contract, tort or otherwise.  If there are unpaid fees owed to CRI, this cumulative liab ilit y will be reduced by the value of the unpaid fees with no additional interest or charges, as CRI retains the right to offset any sums claimed as due  and owed by you, by any sums to which it is legally ent it led. This lim it at ion shall apply whether or not further damages are foreseeable, or whether either party (or its employees, agents,  officers  or directors)  have been advised of the possibility of such damages.

Governing Law ; Venue

This agreement and performance hereunder shall be governed by the laws of the State of Florida, without reference to any confl ict of laws rules or principles. Any action or proceeding arising from or relating to this agreement must be brought in a state or federal court having jur isd ict ion in Lake County, Florida, and each party irrevocably submits to the jurisdiction and venue of any such court in any such action or proceeding .

Electronic Data Communication and Storage and Use of Third Party Service Provider

In the interest of facilitating our services to your company, we may send data over the Internet, securely store electronic data via computer software applications hosted remotely on the Internet, or allow access to data through third-party vendors' secured portals or clouds. Electronic data that is confidential to your company may be transmitted or stored using these methods. We may use third­ party service providers to store or transmit this data, such as, but not limited to, providers of tax return preparation software. In using these data communication and storage methods, our firm

employs measures designed to maintain data security. We use reasonable efforts to keep such communications and data access secure in accordance with our obligations under applicable laws and professional standards. We also require our third-party vendors to do the same.

To enhance our services to you, we will use a combination of remote access, secure file transfer, virtual private network or other collaborative, virtual workspace or other online tools or environments. Access through any combination of these tools allows for on-demand and/or real-time collaboration across geographic boundaries and time zones and allows CRI and you to share data, engagement information, knowledge, and deliverables in a protected environment. While we may back up your files to facilitate our services, you are solely responsible for the backup of your files and records; therefore, we recommend that you also maintain your own backup files of these records.

We appreciate the opportunity to be of service to Olympus Community Development District and believe this letter accurately summarizes the significant terms of our engagement. If you have any questions, please let  us know. If you agree with the terms of our engagement as described in this letter, please sign the enclosed copy and return it to us.

Very truly yours,

CARR, RIGGS & INGRAM, LLC
Certified Public Accountants

RESPONSE:

This letter correctly sets forth the understanding of Olympus Community Development District.

Management Signature:	 	I,.(
Title: Distvict tvlcmcrqe,r

Governance Signature	

Title:   	

Olympus Community Development District

Mathews Design Group
-Scope of Work for Phase 1A

January 22, 2021

MATTHEWS

DESIGN GROUP

Olympus Community Development District 12051 Corporate Boulevard
Orlando, Florida 32817

Re:		Proposal for Professional Engineering Services Project Name: Olympus - Phase lA
MDG Project No.: 20002.00

SCOPE OF WORK

I - Project Meetings & Coordination
MDG will attend all necessary meetings with the City of Clermont, Lake County, the St. Johns River Water Management District (SJRWMD), the Florida Department of Transportation (FOOT), the Florida Department of Environmental  Protection (FDEP), adjacent  developers  {lntegra  Land Company, Hanover, Rex Clont}, client, and contractor.
II.a. - Stormwater Design
MDG will prepare civil construction  plans for  the  temporary  stormwater  design to  be used for  the  lntegra Land Company development as well as the initial Roadway design. The design is to be temporary until the full Olympus development design is implemented.
- Initial Utility Design
MDG will prepare civil construction plans for the initial utility network including the potable water mains, gravity sewer mains, sewer forcemains, reuse lines, fire lines, and lift st at ion . This initial design will encompass the roadway extension from US 27 eastward to the first roundabout (connection to the Hanover development}. The plans will depict utility main alignments along this proposed roadway, including parcel stubouts for future connections (including the lntegra development}, lift station and details, fire hydrant placements, and any associated utility det ails .
- Roadway and Driveway Design
MDG will prepare civil construction plans for Olympus Blvd from the US 27 connection eastward to the first roundabout at the Hanover development connection. As discussed, only the northern 2 lanes of  the  future 4- lane divided roadway will be designed and constructed at this point. Driveway design and permitting will be completed along US 27 in coordination with Dantin Consulting and the  reviewing agencies  such as FOOT, City of Clermont, and Lake Co unt y.
- Landscape Architecture Design
MDG will prepare landscape construction plans for the work associated with initial Phase lA section of the overall Olympus development. The plans will depict trees, shrubs, and groundcovers to achieve PUD requirements and client needs focusing on Olympus Blvd from US 27 eastward to the first
roundabout. Landscaping will be for the north side of the roadway as only the northern 2 lanes will be designed and constructed at this time.
Ill - Transportation Consulting (Subconsultant}
MDG is teaming with Dantin Consulting, LLC (DC} to complete this task. DC will assist with the preparation of applications and needed documents for the transportation-related review and permitting with all work associated with the initial infrastructure desig n. Specifically,  DC will assist with and execute  the  following tasks:
Task 1- PUD Modification and Land Use Plan Changes Affected FDOT Access Permits. Evaluate limited land use modifications and relocations to identify total net external trip generation for PM peak hour conditions as compared to the approved 11/19/18 Traffic Impact Study.
7 Waldo Street, St . Augustine, FL 32084 I P: 904.826.1334 I F: 9 0 4 . 8 26 . 4 54 7  I w w w .M DGin c. co m

Proposal - 20002.00

-

January 7, 2021
Page 2

Driveway Connection Application for Two (2) new US 27 Connections@ Olympus Boulevard approx. Sta. 464+10 (full access) and Sta. 470+60 (rightin/rightout).
FOOT Access Review Committee for Design Variance at Full Access US 27/Olympus Blvd. (if required)
Operational Analysis at Olympus Blvd./Olympus Village Roundabout AM and PM peak hours

- Geotechnical Exploration {Subconsultant)
MDG is teaming with Universal Engineering Sciences to complete this task. Universal will provide field work and a geotechnical report of their findings on the property for the Phase 1A portion of the development.
- Permit Application Preparation & Processing
MDG will prepare permit application packages with supporting documents to apply for the following construction permits for Phase 1A: City of Clermont Development Permit (Overall infrastructure), Lake County Utility approval, City of Clermont Utility approval, SJRWMD Environmental Resource Permit (ERP), FDEP Water Permit, FDEP Wastewater Permit, FOOT Access permit, FOOT Drainage permit
- Surveying {Subconsultant)
MDG is teaming with Dewberry to complete this task. Dewberry will obtain the topographic survey of the project site and surroundings needed to complete the initial design and permitting.

FEE SUMMARY

The following summarizes costs associated with work items as described in Exhibit A, Scope of Work.

I -  Meetings & Coordination
II.a. - Stormwater Design
-  Initial Utility Design
- Roadway & Driveway Design
- Landscape Architecture Design
Ill -Transportation  Consulting- Subconsultant IV - Geotechnical Exploration - Subconsultant
V - Permit Application Preparation and Processing VI - Surveying - Subconsultant

$5,000 (T&M)
$20,000 (Lump Sum)
$20,000 (Lump Sum)
$30,000 (Lump Sum)
$8,000 (Lump Sum)
$26,000 (Lump Sum)
$10,000 (Lump Sum)
$25,000 (T&M)
$38,525 (Lump Sum)

Total Estimated Cost:	$182,525, plus direct reimbursable expenses

MDG understands that the above scope of work and fees will be paid from the proceeds of the district's debt financing for the Phase 1 engineering work contained in the scope.

MATTHEWS DESIGN GROUP

Ver 010120

Olympus Community Development District

Updated Master Engineers Report

OLYMPUS
COMMUNITY DEVELOPMENT DISTRICT
Report of District Engineer May 2021

Prepared for:
Olympus
Community Development District Clermont, Florida

Prepared by:
Chris Buttermore, P.E. Matthews Design Group, LLC St. Augustine, Florida

TABLE OF CONTENTS

Page #
INTRODUCTION	3
PURPOSE AND SCOPE	4
DEVELOPMENT DESCRIPTION	4
LAND USE	4
GOVERNMENTAL ACTIONS	4-5
INFRASTRUCTURE BENEFIT	6
CAPITAL IMPROVEMENT PROGRAM	6-9
OWNERSHIP AND MAINTENANCE	10
PROJECT COSTS	11
SUMMARY AND CONCLUSION	11

EXHIBITS
VICINITY MAP	EXHIBIT A
SURROUNDING ROADWAY NETWORK MAP	EXHIBIT B
OLYMPUS CDD BOUNDARY METES & BOUNDS	EXHIBIT C DESCRIPTION & MAP
PERMIT STATUS	EXHIBIT D
ESTIMATED COSTS PER PHASE	EXHIBIT E

INTRODUCTION
The Olympus Community Development District (the "District") encompasses approximately
243.63 acres, more or less, in the City of Clermont, Florida, and is located in Sections 21 & 28, Township 23 South, and Range 26 East. Primary access will be provided from US Highway 27. Exhibit A is a Vicinity Map that represents the site location. Exhibit B is an adjacent roadway map that represents the surrounding road network.

Current plans are to complete capital improvements needed to support the development of the Olympus Planned Unit Development (PUD) based on the districts within the Olympus community. These PUD based districts include Conservation & Open Space District (COS), Residential Neighborhood Single-Use District (RSD), Office & Medical Services Single-Use District (OSD), Hospitality Single-Use District (HSD), Urban Mixed-Use District (UMU), and Urban Special-Use District (USU). The current PUD, approved by the City of Clermont, will be used for determining what development will be allowed in each district.

The District has been established as a Community Development District which is a local unit of special- purpose government. Exhibit C provides a Metes & Bounds Boundary Description and Map of the District. The majority of all construction and development activities associated with the Community are wholly contained within or in close proximity to the limits established for the District.
There are two types of offsite improvements associated with the District:

Cost sharing for the Hancock Road utility extension from the District northward to Hartwood Marsh Road.
Proportionate share payment for additional offsite roadway. No obligation has been imposed for signalization improvements as per the approved traffic impact analysis. However, any future signalization requirement would be the responsibility of the District.
These improvements benefit the District specifically and the public more generally. The offsite improvements will ultimately be owned and maintained by the City of Clermont, Lake County, or the Florida Department of Transportation.
The District and/or Olympus Sports & Entertainment Group, LLC, a Florida limited liability company (“Developer”), or its successors or assigns will be responsible for offsite improvements that directly benefit the District. The City of Clermont will participate in a cost share of item 1 above as part of a Developer’s Agreement.
The Olympus Community Development District is governed by a Board of Supervisors consisting of five (5) members. The Board of Supervisors are as follows. Their terms, powers and duties are as described in Chapter 190, Florida Statutes:
Michael Carroll Sr
Michael Carroll Jr
Russ Caldwell
Matt Carroll
Edward Dempsey
The District is management by PFM Group Consulting, LLC. Hopping, Green & Sams, P.A., serves as District General Counsel (the “District Counsel”). Matthews Design Group, LLC. is the District Engineer (the “District Engineer”). The District Manager oversees the operation and maintenance of the District, as supervised by the Board of Supervisors.

PURPOSE AND SCOPE
The District was established for the purpose of financing or acquiring, constructing, maintaining and operating all or a portion of the infrastructure necessary for community development within the District. The purpose of this report is to provide a description of the infrastructure improvements necessary for development activities as well as to be financed and/or acquired by the District. The District will finance, acquire and/or construct, operate, and maintain a portion of the infrastructure improvements that are needed to serve the Community and allocate the costs for these infrastructure improvements to the property owners within the District. Olympus Orlando Holdings, LLC is currently the owner of all the lands within the District while the master developer of the Community will be Olympus Sports & entertainment Group, LLC. The proposed infrastructure improvements, as outlined herein, are necessary for the functional development of the lands within the District as required by the City of Clermont. This Engineer's Report reflects the District's present intentions. The implementation and completion of the Capital Improvement Program (“CIP”) outlined in this Report requires final approval by the District's Board of Supervisors, including the award of contracts for the construction or acquisition of the improvements. Cost estimates contained in this Report have been prepared based on the best available information, including bid documents and pay requests where available. These estimates may not reflect final engineering design or complete permitting. Actual costs will vary based upon final plans, design, planning, approvals from regulatory authorities, inflation, etc. Nevertheless, all costs contained herein, may be reasonably expected to adequately fund the improvements described, and contingency costs as included are reasonable.

DEVELOPMENT DESCRIPTION
Olympus is planned for multiple types of development, including residential, retail, office, medical, hospitality, sports/civil and recreational. Development will be controlled by the PUD based District the development will be located within and by the approved PUD text. As mentioned, US Highway 27 will provide access to the District from the west. The District is primarily bound on the west by the US Highway 27, bound on the north and east by Schofield Road, and bound on the south by undeveloped property.
As of now, the development’s infrastructure will be designed, permitted, and constructed in 7 main phases. Phases 1 and 2 include the development of Olympus Boulevard and portions of the multi-use trail, improvements to US Highway 27 associated with the Olympus Boulevard connection, improvements to the two existing lakes onsite for master stormwater preparation, and installation of the water and sewer utility network that would be serviced by Lake County and Utilities Inc. Phases 3 through 7 include the development of Olympus Village Road, Epic Boulevard, and Stadium Boulevard, installation of the stormwater network along those roadways, installation of the water and sewer utility network that would be serviced by City of Clermont, the remaining trail system, and the two proposed roundabouts along Schofield Road.

LAND USE
As stated, the District consists of 243.63 acres, more or less. The proposed land uses within the District consist of single-family residential (detached and attached), multi-family residential, office, medical services, retail, sports & civic, hotel & hospitality, corporate conference & mixed-use, active recreational open space, passive open space, public & private roadways, conservation areas, jurisdictional wetlands, wetland buffers, and stormwater management areas.

GOVERNMENTAL ACTIONS
On May 14, 2019, Clermont’s City Council approved and adopted the Annexation of the District lands into the City of Clermont and the Rezoning of the lands to Planned Unit Development (PUD) by Ordinance No. 2018-35 & 2018-36. Applications for development permits and approvals are being processed for the appropriate federal, state and county governmental agencies consistent with the Olympus District and other local, state and federal regulations. A list of the significant approvals that are required is shown below and a status summary is shown in Exhibit E.
The following permits are required for the Community:
City of Clermont
Annexation – Ordinance 2018-35 (5/14/2019)
Rezone – Ordinance 2018-36 (5/14/2019)
Utility Plan Approval (Phases 3 through 7)
Concurrent Site/Development/Construction (Phases 1 through 7)
Final Plat Approval
Lake County and Utilities Inc.
Utility Plan Approval (Phases 1 & 2)
Florida Department of Transportation (FDOT)
Access Permit
Drainage Permit
Utility Permit
Florida Department of Environmental Protection (FDEP)
Permit to Construct Water Distribution Systems (Phases 1 through 7)
Permit to Construct Wastewater Collection Systems (Phases 1 through 7)
St. Johns River Water Management District
Environmental Resource Permit (Phases 1 through 7)
Army Corps of Engineers:
Nationwide
US Fish & Wildlife Service
It is Matthews Design Group’s opinion that there are no technical reasons existing at this time which would prohibit the implementation of the plans for the Development as presented herein and that permits normally

obtained by site development engineers, not heretofore issued and which are necessary to affect the improvements described herein, will be obtained during the ordinary course of development. The permit status for the development is summarized in Exhibit D included with this Report.

INFRASTRUCTURE BENEFIT
The project includes the construction of two types of public benefits. These proposed infrastructure improvements include:
Project-wide public benefits; and
Incidental public benefits.
The project-wide public benefits are provided by infrastructure improvements that serve all development in the District. These public infrastructure improvements include: local roads, adjacent roadway improvements, wastewater, potable water, reclaimed water and irrigation systems, underground electrical systems, street lighting, stormwater management improvements, and landscaping.
Incidental public benefits include those benefits to the general public who do not necessarily reside within the District. The general public will benefit from the District's share of offsite transportation improvements and offsite utility extensions.
The proposed infrastructure improvements identified in this Report are intended to provide specific benefit to the assessable real property within the boundaries of the District. The construction and maintenance of the proposed infrastructure improvements are necessary for the development of the assessable property in the District and will benefit the property intended for development and the various uses previously described in this report. As noted, the District may construct, acquire, own, and operate all or any portion of the proposed infrastructure.
The District will operate and maintain some of the infrastructure improvements as noted in Table 1.

CAPITAL IMPROVEMENT PROGRAM
The District's Capital Improvement Program (“CIP”) includes infrastructure improvements that will provide special benefit to all lands within the District. Said improvements include earthwork, stormwater management facilities, internal roadways, recreational trail system, hardscaping, landscaping, potable water, reclaimed and irrigation water transmission systems, wastewater collection and transmission facilities. The costs for engineering survey, design and inspection of these elements, other professional services associated with design and construction, permitting, as well as costs for legal and engineering services associated with administering some aspects of the CIP, have been included.
The CIP will also provide offsite infrastructure improvements that will benefit the District as well as adjacent developments, existing and future. These improvements include water and sewer main extensions, roadway extensions, and signalization improvements.
The estimated total cost of the CIP is $35,305,193 and installation of the CIP improvements will be split into phases. The installation of these improvements shall adhere to the “Site Work, Easement, Escrow and Development Agreement” that was prepared by Akerman LLP. Specifically, these improvements consist of Utility

Improvements, Road Improvements, Signalization Improvements, Traffic Studies/Intersection Analysis (part of engineering design), Drainage Improvements, Refer to Exhibit E for a summary of the costs by infrastructure category and phase for the CIP.

ROADWAYS
District Funded Offsite Roadways:
The Conditions of Approval require certain off-site improvements to be completed as a condition of development of the Community. The District will fund these offsite improvements.
District Funded Internal Roadways:
The design of roadways within the District will comply with the City of Clermont’s Development Code and the PUD. Based on the current plan of development, the District will fund and construct divided 2-lane and 4-lane roads providing access to the developments within the District.

UTILITIES
The District will fund and construct the potable water distribution system, the wastewater collection and transmission system, the reclaimed water distribution systems, and the irrigation water systems. The District will also fund the underground electrical system.
Potable Water, Reclaimed Water and Wastewater
Utility ownership will be split between Lake County and the City of Clermont. A jurisdiction line separating the two agencies runs east/west through the center of the two existing lakes. No interconnect between the agencies’ proposed utility mains is proposed. Utility service for the City of Clermont portion of the District will be provided via the water and sewer extension mentioned along the future Hancock Road extension. Utility service for the Lake County portion of the District will be provided by the adjacent development to the south (Hanover). The City of Clermont and Lake County will provide potable water and reclaimed water to the lands within the District and treat wastewater that originates from the District. When completed, the City of Clermont and Lake County will own, operate and maintain the potable water distribution system, reclaimed water distribution system and wastewater collection and transmission system within the District.

Irrigation Water
The landscaped roadways, and some parks, recreational, and common areas will be irrigated using irrigation systems connected to stormwater/irrigation lakes located within the District. The District will own, operate and maintain the irrigation system. Reuse water mains will also be provided for irrigation use.

Underground Electrical System
The District will fund and construct the underground electrical system that will provide service to the lands within the District. SECO Energy will own, operate, and maintain the underground electrical system.

STORMWATER MANAGEMENT SYSTEM
The City of Clermont and the St. Johns River Water Management District ("SJRWMD") regulate the design criteria for the stormwater management system within the District. The majority of the District land is considered a closed basin and will be treated as such during stormwater design and permitting. The northeast portion of the District land has a pre-development flow northward to the land north of Schofield Road. Considerations have been made to both receive runoff from adjacent properties and to allow runoff to leave the District site onto adjacent properties to be consistent with pre-development flows. The pre-development site runoff and water management criteria have been established by the City of Clermont and SJRWMD.
The stormwater management system for the District focuses on utilizing the existing lakes for stormwater retention. The smaller, western lake will be converted to underground treatment and retention so that the surface area can be used as additional open space. The larger, eastern lake will mostly remain as is for retention. Additional smaller ponds and underground treatment facilities will assist with treating the water prior to entering the existing lake.
The primary objectives of the stormwater management system for the District are:
To provide a stormwater conveyance and storage system, which includes stormwater quality treatment.
To adequately protect development within the District from regulatory-defined rainfall events.
To maintain existing wetlands and conservation areas.
To ensure that adverse stormwater impacts do not occur upstream or downstream as a result of the Development.
To satisfactorily accommodate stormwater runoff from adjacent off-site areas that naturally drains through the District. Accommodating existing drainage conditions are a requirement of more than one regulatory agency and are an integral part of the infrastructure improvements constructed with development projects.
To preserve the function of the floodplain storage during the 100-year storm event.
The stormwater management system provides a system for the District that optimizes the drainage, collection, treatment and attenuation of stormwater runoff.
The District will fund, construct and/or acquire the stormwater management system.
The stormwater collection and outfall systems will be a combination of site grading, earthwork, stabilization, inlets, pipe culverts, control structures, and wetland conservation areas.

LANDSCAPE AND HARDSCAPE
Internal roads and some parks or open space will be irrigated and landscaped. All landscaped and hardscaped areas will be in compliance with City of Clermont and PUD development criteria. The District will fund and construct the landscaping along the roads, the open space or park areas, retaining walls, buffer walls, fencing and landscape buffers within the District’s boundary. The District will be responsible for maintenance of these items.

Olympus signage and monumentation will also be funded and constructed by the District and maintained by the District.

RECREATIONAL FACILITIES
The District will fund, construct, operate and maintain certain recreational facilities and other passive recreational features within the Development, including the trail system that will traverse throughout the site. The recreational components will generally be within District open space, parks and other public areas.

PROFESSIONAL SERVICES
Professional fees include civil engineering costs for master planning, site design, permitting, preparation of construction plans, inspection and survey costs for construction staking, preparation of record drawings and preparation of preliminary and final plats.
Professional fees also may include geotechnical costs for additional pre-design soil borings, underdrain analysis, soil stabilization, and construction testing, architectural costs for landscaping, fees associated with transportation planning and design, environmental consultation, irrigation system design and fees for permitting, as well as costs for legal and engineering services associated with the administration of the District's CIP.

CONTINGENCY
This category includes the cost for adjustments as a result of unexpected field conditions, additional requirements of governmental agencies, market conditions, and other unknown factors that may occur throughout the course of development and construction of the infrastructure. In general, the contingency amount is based on a percentage of the total infrastructure cost estimate.

OWNERSHIP AND MAINTENANCE
The ownership and maintenance responsibilities of the proposed infrastructure improvements are set forth below in the table.

	Table 1: Ownership and Maintenance	
Proposed Infrastructure	Funding	Ownership	Maintenance	
Public Roads within District	CDD	CDD	CDD	
Street Lights	CDD	CDD	CDD	
Drainage System including curb	CDD	CDD	CDD	
Trail System	CDD	CDD	CDD	
Potable Water	CDD	CITY or COUNTY	CITY or COUNTY	
Sewer	CDD	CITY or COUNTY	CITY or COUNTY	
Reclaim to Pond	CDD	CITY or COUNTY	CITY or COUNTY	
Irrigation Pump	CDD	CDD	CDD	
Well Pump	CDD	CDD	CDD	
Irrigation System	CDD	CDD	CDD	
Landscaping	CDD	CDD	CDD	
Ponds/Earthwork for Ponds	CDD	CDD	CDD	
Offsite Public Roads (outside of District)	CDD	CITY	CITY	
Offsite public utilities & drainage	CDD	CITY	CITY	

PROJECT COSTS
The estimated District Funded total cost of the CIP is $35,305,193. Refer to Exhibit E for a summary of the costs by infrastructure category for the CIP.

SUMMARY AND CONCLUSION
The infrastructure, as outlined above, is necessary for the functional development of the District as required by the City of Clermont, Lake County, and the PUD. The planning and design of the infrastructure is in accordance with current governmental regulatory requirements. The infrastructure will provide its intended function so long as the construction is in substantial compliance with the design and permits. The permits and regulatory approvals identified in this Report are sufficient for the completion of the CIP as described in the development plans. The platting, design and permitting for the development are ongoing at this time and there is no reason to believe such permitting will not be obtained.
Items of construction in this Report are based on preliminary quantities for the infrastructure construction as shown on the master plans, conceptual plans, and developing construction drawings and specifications. It is my professional opinion that the estimated infrastructure costs provided herein for the District improvements are reasonable to complete the construction of the infrastructure described herein and that these infrastructure improvements will benefit and add value to the District. All such infrastructure costs are public improvements or community facilities as set forth in Section 190.012(1) and (2) of the Florida Statues.
The total construction cost estimate for the infrastructure that has been developed in this Report is only an estimate and not a guaranteed maximum price. The estimated cost is based on recent cost information concerning construction and professional services for similar developments in this area of the County applied to the current plan of development. The labor market, future costs of equipment and materials, and the actual construction processes frequently vary and cannot be accurately forecasted. Due to this inherent opportunity for fluctuation in cost, the total final cost may be more of less than this estimate.
The Engineer recommends that in addition to the annual non-ad valorem assessments to be levied and collected to pay debt service on any proposed bonds, the District should also levy and collect an annual "Operating and Maintenance" assessment to be determined, assessed and levied by the District's Board of Supervisors upon the assessable real property within the District for the purpose of defraying the cost and expenses of maintaining District owned improvements.

Chris Buttermore, P.E
Olympus Community Development District Engineer FL Registration No.: 78811

EXHIBIT A VICINITY MAP

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SITE	COUNTY	PROJECT  NUMBE R

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OLYMPUS

LAKE	17122

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EXHIBIT B

ADJACENT ROAD NETWORK MAP

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SCHOFIE LD ROAD

M ATT HEWS DESIGN GROUP	EXHJIBJIT B ADJACENT ROAD NETWORK MAP	
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SI T E	COUNTY	PROJECT NUMBER
OLY MPUS	LAK E	17122		
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EXHIBIT C

OLYMPUS CDD BOUNDARY METES & BOUNDS DESCRIPTION AND MAP

16

THIS IS NOT A SURVEY

SECT ION 21 & 28, TOWNSHIP 23 SOUTH, RANGE 26 EAST LAKE COUNTY, FLORIDA

GRAPH IC SCALE
0    iiii-- 5■-ri.- 7-5-0--  11125 	1500
I
1" =  750'

N00"13'3g W 546.00'

S89'53'03''E 334.57'

L=235.84'
R=5579.01'	L=188.50'
t.=02' 25'19"	R=90.00
CB=N21'  46'48"E	t.=120'00'00"
CH=235.82'	CB=S89"52'26E''
CH=155.88'
   S89' 50' 54"E664.70'	 S89' 54'20"E724.0g	
L=539.31'
R=5588.79' t.=05"31'44" CB=N1'7481' 6"E
CH=539.10'
SUBJECT PARCEL
S74' 57'37"E 10.00'	±247.02 ACRES
'AGRICULTURAL LAND'

L=1008.24'
R=5598.7g\

t. 10•10g4•		_J N LINE OF THE NE 114 OF SECTION 28-23-26 AND CB=N09'52'52"E	/		THE N LINrE OF THE 112 OF SECTION 28-23-26
CH=1006.87'
S LINE OF THE NW 1/4	l : c° F THE NW114
ETION28-23-26	-	TION21-23-2-6   -    -	---<!llll   N89'14'49"E1 .5  00

N01' 26'21"E130.09'	I
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L=192.34'
N01'26'21"E 243.71'	R=90.00'	1
t.=36'34'07''	t.=122'  26'41"	\"    -.	-     -     ---,rnm4,:2; 2•	1  .s2 N	(/)
CB=S71'42'56'W  CB=N89'  57'14"W	L=445.95'
CH=131.77'	CH=157.77'	R=:69Cl :00:o'  s-w
L=445.70'
R=700.81'	t.=30°11·24·
CB=N44' 48'11"W
t.=36'  26'20"	CH=438.22'	CH =46.   88'
CB=S71' 56'47'W	N52' 38'14"W 141.27'
CH=438.22'

FROM BOUNDARY SURVEY PROVIDED BY DEWBERRY	
OLYMPUS
COMMUNITY DEVELOPMENTDISTRICT	SHEE T
1
OF 3	

LEGAL DESCRIPTION:
ALL OF TRACTS 47, 50, 51, 52, 53, 59, 60, 61, 62, AND 63, A PORTION OF TRACTS 33, 34, 35, 41, 45, 46, 48, 49, 54, 55, 58 AND 64, A PORTION OF THAT CERTAIN UN-IMPROVED 30.00 FOOT PLATTED RIGHT OF WAY LYING SOUTH OF TRACTS 41, 44-46, 48 AND THOSE CERTAIN UN-IMPROVED 30.00 FOOT PLATTED RIGHT OF WAYS LYING SOUTH OF TRACT 47 AND WEST OF TRACTS 52 AND 61, THAT CERTAIN UN-IMPROVED 15.00 FOOT PLATTED RIGHT OF WAY LYING SOUTH OF TRACTS 59- 63 AND A PORTION OF THAT CERTAIN UN-IMPROVED 15.00 FOOT PLATTED RIGHT OF WAY LYING SOUTH OF TRACT 58 AND EAST OF U.S. HIGHWAY 27, ALSO A PORTION OF SAID RIGHT OF WAY LYING SOUTH OF TRACT 64 AND WEST OF SCHOFIELD ROAD; SAID TRACTS AND UN-IMPROVED RIGHTS OF WAY LYING V\/lTHIN THE PLAT OF MONTE VISTA PARK FARMS, AS RECORDED IN PLAT BOOK 2, PAGE 27, PUBLIC RECORDS OF LAKE COUNTY, FLORIDA, LYING EAST OF US HIGHWAY 27, SOUTH AND WEST OF SCHOFIELD ROAD IN SECTION 21 TOV\/lNSHIP 23 SOUTH, RANGE 26 EAST.
TOGETHER WITH:
A PORTION OF THE NORTH 1/2 OF SECTION 28, TOV\/lNSHIP 23 SOUTH, RANGE 26 EAST, LAKE COUNTY, FLORIDA, LYING EAST OF US HIGHWAY 27 AND WEST OF SCHOFIELD ROAD.
SAID LANDS TOGETHER BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCE AT THE NORTHEAST CORNER OF THE NORTHEAST 1/4 OF SAID SECTION 28; THENCE S89"14'48"W ALONG THE NORTH LINE OF THE NORTHEAST 1/4 OF SAID SECTION 28, A DISTANCE OF 33.00 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF SCHOFIELD ROAD PER DEED BOOK 225, PAGE 510 OF SAID PUBLIC RECORDS OF LAKE COUNTY AND THE POINT OF BEGINNING; THENCE S00"01'04"E ALONG SAID WEST RIGHT OF WAY LINE, A DISTANCE OF 931.19 FEET;  THENCE DEPARTING SAID WEST RIGHT OF WAY LINE RUN N89"42'25'W, A DISTANCE OF 1580.58 FEET TO A POINT ON A NON-TANGENT CURVE, CONCAVE NORTHERLY, HAVING A RADIUS OF 690.00 FEET, A CENTRAL ANGLE OF 37"01'49", A CHORD BEARING OF N71"09'08"W AND A CHORD DISTANCE OF 438.22 FEET; THENCE V\/lESTERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 445.95 FEET TO A POINT OF TANGENCY; THENCE N52"38'14'W, A DISTANCE OF 141.27 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE SOUTHERLY, HAVING A RADIUS OF 210.00 FEET, A CENTRAL ANGLE OF 37"11'05", A CHORD BEARING OF N71"13'47'WAND A CHORD DISTANCE OF
133.91 FEET; THENCE WESTERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 136.29 FEET TO A POINT OF TANGENCY; THENCE N89"49'20'W, A DISTANCE OF 402.76 FEET TO A  POINT ON A NON-TANGENT  CURVE, CONCAVE NORTHERLY, HAVING A RADIUS OF 90.00 FEET, A CENTRAL ANGLE OF 122"26'41", A CHORD BEARING OF N89"57'14"WAND A CHORD DISTANCE OF 157.77 FEET; THENCE WESTERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 192.34 FEET TO A POINT OF NON TANGENCY; THENCE N90"00'00"W, A DISTANCE OF 401.32 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE SOUTHERLY, HAVING A RADIUS OF 210.00 FEET, A CENTRAL ANGLE OF 36"34'07", A CHORD BEARING OF S71"42'56"WAND A CHORD DISTANCE OF 131.77 FEET; THENCE WESTERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 134.03 FEET TO A POINT OF TANGENCY; THENCE S53"25'53'W, A DISTANCE OF 138.26 FEET TO A POINT ON A NON-TANGENT  CURVE, CONCAVE NORTHERLY, HAVING A RADIUS OF 700.81 FEET, A CENTRAL ANGLE OF 36"26'20", A CHORD BEARING OF S71"56'47"W AND A CHORD DISTANCE OF 438.22 FEET; THENCE WESTERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 445.70 FEET TO A POINT OF TANGENCY; THENCE N89"50'03"W, A DISTANCE OF 309.89 FEET TO A POINT ON THE EASTERLY RIGHT OF WAY LINE OF US HIGHWAY 27 ALSO KNOV\/lN AS STATE ROAD 25 (VARIABLE RIGHT OF WAY PER FLORIDA DEPARTMENT OF TRANSPORTATION RIGHT OF WAY MAP FP NO. 238422 1 DATED NOVEMBER 8, 2005); THENCE RUN ALONG SAID EASTERLY RIGHT OF WAY LINE THE FOLLOWING TEN (10) COURSE AND DISTANCES; N01"26'21"E, A DISTANCE OF 243.71  FEET;  THENCE S88"33'39"E, A DISTANCE OF 172.00 FEET; THENCE N01"26'21"E, A DISTANCE OF 130.09 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE EASTERLY, HAVING A RADIUS OF 5426.57 FEET, A CENTRAL ANGLE OF 03"25'59", A CHORD BEARING OF N03"09'20"E AND A CHORD DISTANCE OF
325.11 FEET; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 325.16 FEET TO THE END OF SAID CURVE; THENCE N89"59'56'W, A DISTANCE OF 172.60 FEET TO A POINT ON A NON-TANGENT CURVE, CONCAVE EASTERLY, HAVING A RADIUS OF 5598.79 FEET, A CENTRAL ANGLE OF 10"19'04", A CHORD BEARING OF N09"52'52"E AND A CHORD DISTANCE OF 1006.87 FEET; THENCE NORTHERLY  ALONG THE ARC OF SAID CURVE A DISTANCE OF 1008.24 FEET TO THE END OF SAID CURVE; THENCE S74"57'37"E, A DISTANCE OF 10.00 FEET TO A POINT ON A NON-TANGENT CURVE, CONCAVE EASTERLY, HAVING A RADIUS OF 5588.79 FEET, A CENTRAL ANGLE OF 05"31'44", A CHORD BEARING OF N17"48'16"E AND A CHORD DISTANCE OF 539.10 FEET; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 539.31 FEET TO THE END OF SAID CURVE; THENCE S69"25'52"E, A DISTANCE OF 9.78 FEET TO A POINT ON A NON-TANGENT CURVE, CONCAVE EASTERLY, HAVING A RADIUS OF 5579.01 FEET, A CENTRAL ANGLE OF 02"25'19", A CHORD BEARING OF N21"46'48"E AND A CHORD DISTANCE OF 235.82 FEET; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 235.84 FEET TO THE END OF SAID CURVE; THENCE DEPARTING SAID EASTERLY RIGHT OF WAY LINE RUN S67"38'24"E, A DISTANCE OF 469.15 FEET; THENCE S89"50'54"E, A DISTANCE OF 664.70 FEET TO A POINT ON A NON-TANGENT CURVE, CONCAVE SOUTHERLY, HAVING A RADIUS OF 90.00 FEET, A CENTRAL ANGLE OF 120"00'00", A CHORD BEARING OF S89"52'26"E AND A CHORD DISTANCE OF 155.88 FEET; THENCE EASTERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 188.50 FEET TO THE END OF SAID CURVE; THENCE S89"54'20"E, A DISTANCE OF 724.09 FEET; THENCE N00"06'56"E, A DISTANCE OF 771.53 FEET; THENCE S89"53'03"E, A DISTANCE OF 337.15 FEET; THENCE N00"13'39'W, A DISTANCE OF 561.00 FEET TO THE SOUTH RIGHT OF WAY LINE OF THE AFORESAID SCHOFIELD ROAD; THENCE N89"30'42"E ALONG SAID SOUTH RIGHT OF WAY LINE, A DISTANCE OF 1391.56 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF THE AFORESAID SCHOFIELD  ROAD; THENCE S00"23'52'WALONG SAID WEST RIGHT OF WAY LINE, A DISTANCE OF 2664.18 FEET TO THE POINT OF BEGINNING.

LESS AND EXCEPT:
NORTH BRADSHAW ROAD, AN EXISTING 20.00 FOOT V\/lDE COUNTY MAINTAINED AND GRADED DIRT ROADWAY LYING IN THE EASTERLY PORTION OF THE SOUTHWEST 1/4 OF SECTION 21, TOV\/lNSHIP 23 SOUTH, RANGE 26 EAST AND THE NORTHWEST 1/4 OF SECTION 28, TOWNSHIP 23 SOUTH, RANGE 26 EAST LYING WITHIN THE BOUNDS OF THE PREVIOUSLY DESCRIBED PARCEL.
CONTAINING: 247.02 ACRES MORE OR LESS.

FROM BOUNDARY SURVEY PROVIDED BY DEWBERRY	
OLYMPUS
COMMUNITY DEVELOPMENT DISTRICT	SHEET
2
OF3	

SURVEY NOTES:

BEARINGS SHOWN HEREON ARE BASED ON THE STATE PLANE COORDINATE SYSTEM WEST ZONE NORTH AMERICAN DATUM (NAO) OF 1983 WITH 2011 ADJUSTMENT AND DERIVING A BEARING OF S00"18'09"E ALONG THE WEST RIGHT OF WAY LINE OF SCHOFIELD ROAD PER DEED BOOK 225, PAGE 510 PUBLIC RECORDS OF LAKE COUNTY, FLORIDA

ACCORDING TO FEDERAL EMERGENCY MANAGEMENT AGENCY'S FLOOD INSURANCE RATE MAP (FIRM) MAP NO. 12069C0675E, LAKE COUNTY, FLORIDA, EFFECTIVE DATE OF DECEMBER 18, 2012, THE PROPERTY DESCRIBED HEREON LIES WITHIN ZONE(S) "X" AND "A" AND PARTIALLY LIES WITHIN A FLOOD HAZARD AREA.

THIS SURVEY WAS PREPARED WITH THE BENEFIT OF A TITLE COMMITMENT PREPARED BY FIDELITY NATIONAL TITLE INSURANCE COMPANY, ORDER NO. 6741948, DATED DECEMBER 18, 2017.

UNDERGROUND FOUNDATIONS AND UTILITIES WERE NOT LOCATED AS PART OF THIS SURVEY.

	LANDS SHOWN HEREON WERE NOT ABSTRACTED FOR RIGHTS-OF-WAY, EASEMENTS, OWNERSHIP, ADJOINERS OR OTHER INSTRUMENTS OF RECORD BY THIS FIRM.

NORTH-SOUTH AND EAST-WEST TIES TO FOUND MONUMENTATION  AND IMPROVEMENTS ARE BASED ON CARDINAL DIRECTION.

WETLAND AREAS SHOWN HEREON WERE IS PER FIELD LOCATED WETLAND FLAGS PER CARTER ENVIRONMENTAL SERVICES, INC, FLAGGED ON 02/20/2018.

THE ACCURACY OF THE SURVEY MEASUREMENTS USED FOR THIS SURVEY MEETS OR EXCEEDS THE EXPECTED USE OF THE PROPERTY DESCRIBED HEREON. (SUBURBAN) 1 FOOT IN 7,500 FEET.

THE NORTH RIGHT OF WAY LINE OF SCHOFIELD ROAD AS SHOWN HEREON IS PER THE LAKE COUNTY PROPERTY APPRAISER WEBSITE, NO PUBLIC RECORDINGS WERE PROVIDED TO THIS FIRM FOR THE PORTION OF THE MAINTAINED ROADWAY BY LAKE COUNTY, FLORIDA

THAT PORTION OF SCHOFIELD ROAD (DIRT ROAD) LYING IN SECTIONS 21 AND 28 PARTIALLY LIES OUTSIDE OF THE DEDICATED RIGHT OF WAY AND ENCROACHES WITHIN THE SUBJECT PARCEL AS SHOWN. ACCORDING TO LAKE COUNTY RIGHT OF WAY DEPARTMENT SAID GRADED ROAD IS MAINTAINED BY OSCEOLA COUNTY.

NORTH BRADSHAW ROAD SHOWN HEREON IS A 20.00 FOOT WIDE GRADED DIRT ROAD MAINTAINED BY LAKE COUNTY, FLORIDA LAKE RIGHT OF WAY DEPARTMENT DOES NOT HAVE ANY PUBLIC DEDICATION RECORDINGS FOR THIS ROADWAY AND IT APPEARS THAT THE INTENT OF SAID ROADWAY TO RESIDE WITHIN THE UN-NAMED PLATTED RIGHT OF WAY SHOWN ON THE PLAT OF MONTE CRISTO AS REFERENCED HEREON.

FROM BOUNDARY SURVEY PROVIDED BY DEWBERRY	
OLYMPUS
COMMUNITY DEVELOPMENT DISTRICT	SHEET
3
OF3	

EXHIBIT D PERMIT STATUS

PERMIT STATUS

	PERMIT TYPE	PH 1	PH 2	PH 3	PH 4	

City of Clermont	Annexation	5/14/19	5/14/19	5/14/19	5/14/19	
	PUD Rezoning	12/8/20	12/8/20	12/8/20	12/8/20	
	Site Development & Construction Plans					
	Utility Plan Approval					
	Final Plat Approval					
Lake County	Utility Plan Approval					

FDOT	Access Permit					
	Drainage Permit					
	Utility Permit					

FDEP	Water Dist. System					
	Wastewater Dist. System					
SJRWMD	Env. Resource Permit					

ACOE	Nationwide Permit					
	US Fish & Wildlife Permit					

PERMIT STATUS

	PERMIT TYPE	PH 5	PH 6	PH 7	

City of Clermont	Annexation	5/14/19	5/14/19	5/14/19	
	PUD Rezoning	12/8/20	12/8/20	12/8/20	
	Site Development & Construction Plans				
	Utility Plan Approval				
	Final Plat Approval				
Lake County	Utility Plan Approval				

FDOT	Access Permit				
	Drainage Permit				
	Utility Permit				

FDEP	Water Dist. System				
	Wastewater Dist. System				
SJRWMD	Env. Resource Permit				

ACOE	Nationwide Permit				
	US Fish & Wildlife Permit				

EXHIBIT E

ESTIMATED COST OF CONSTRUCTION PER PHASE

PO Box 3126 • 7 Waldo Street St. Augustine • FL • 32084 Phone: 904.826.1334

County: Lake Project Olympus
Date: 6/2/2021 Calculated By: DS
Checked By:   CB

Exhibit E - Estimated Costs of Construction for: Olympus (Phase 1)
Description	Total Cost

Mobilization			$	99,244.80	
Landscaping			$	300,000.00	
Wayfinding Signage			$	50,000.00	
Demolition			$	72,000.00	
-	Utility Improvements			$	481,088.34	
-	Stormwater Pond Construction			$	297,685.40	
-	Roadway Stormwater Improvements			$	97,877.40	
-	Roadway Construction			$	1,743,244.94	
		Subtotal	$	3,141,140.89	
	10%	Contingency	$	314,114.09	

$	4,397,356.97

Offsite Improvement Mitigation Cost (Phase 1)   $
Total

942,102.00

PO Box 3126 • 7 Waldo Street St. Augustine • FL • 32084 Phone: 904.826.1334

County: Lake Project Olympus
Date: 6/2/2021 Calculated By: DS
Checked By:   CB

Exhibit E - Estimated Costs of Construction for: Olympus (Phase 2)
Description	Total Cost

Mobilization			$	159,497.71	
Landscaping			$	300,000.00	
Wayfinding Signage			$	50,000.00	
Demolition			$	132,000.00	
-	Utility Improvements			$	1,008,102.85	
-	Stormwater Pond Construction			$	369,525.40	
-	Roadway Stormwater Improvements			$	228,380.60	
-	Roadway Construction			$	1,463,945.45	
		Subtotal	$	3,711,452.01	
	10%	Contingency	$	371,145.20	
Offsite Improvement Mitigation Cost (Phase 2)	$	1,520,066.00	
Amenity Improvements/Hardscaping	$	250,000.00	
Total	$	5,852,663.21	

PO Box 3126 • 7 Waldo Street St. Augustine • FL • 32084 Phone: 904.826.1334

County: Lake Project Olympus
Date: 6/2/2021 Calculated By: DS
Checked By:   CB

Exhibit E - Estimated Costs of Construction for: Olympus (Phase 3)
Description	Total Cost

Mobilization			$	94,907.39	
Landscaping			$	300,000.00	
Wayfinding Signage			$	50,000.00	
Demolition			$	50,400.00	
-	Utility Improvements			$	222,105.20	
-	Roadway Stormwater Improvements			$	130,503.20	
-	Roadway Construction			$	1,506,139.45	
		Subtotal	$	2,354,055.24	
	10%	Contingency	$	235,405.52	
		Water/Sewer Extension	$	1,400,000.00	
Offsite Improvement Mitigation Cost (Phase 3A)	$	1,436,326.00	
Amenity Improvements/Hardscaping	$	450,000.00	
Total	$	5,875,786.77	

PO Box 3126 • 7 Waldo Street St. Augustine • FL • 32084 Phone: 904.826.1334

County: Lake Project Olympus
Date: 6/2/2021 Calculated By: DS
Checked By:   CB

Exhibit E - Estimated Costs of Construction for: Olympus (Phases 4-7)
Description	Total Cost

Mobilization			$	291,718.78	
Landscaping			$	1,000,000.00	
Wayfinding Signage			$	450,000.00	
Demolition			$	90,600.00	
-	Utility Improvements			$	1,574,973.90	
-	Stormwater Pond Construction			$	37,356.95	
-	Roadway Stormwater Improvements			$	158,138.76	
-	Roadway Construction			$	3,994,305.96	
		Subtotal	$	7,597,094.35	
	10%	Contingency	$	759,709.43	
		Water/Sewer Extension	$	1,400,000.00	
Offsite Improvement Mitigation Cost (Phases 3B, 4A, 4B, 5A, 5B )	$	4,122,582.00	
Amenity Improvements/Hardscaping	$	2,800,000.00	
Total	$	16,679,385.78	

PO Box 3126 • 7 Waldo Street St. Augustine • FL • 32084 Phone: 904.826.1334

County: Lake Project Olympus
Date: 6/2/2021 Calculated By: DS
Checked By:  CB

Exhibit E - Estimated Costs of Construction for: Olympus (All Phases and Fees)

Phase	Total Cost
1	$	4,397,356.97		
2	$	5,852,663.21		
3	$	5,875,786.77		
4 through 7	$	16,679,385.78		
Subtotal	$	32,805,192.74	Estimated Cost of Phased Improvements	

Additional Fees/Costs		Total Cost		
Offsite Roadway Improvements	$	500,000.00		
Signalization	$	500,000.00		
Design Fees (Survey, Engineering, Certification)	$	1,500,000.00		
Subtotal	$	2,500,000.00	Estimated Cost of Additional Fees	

Total Estimated District Improvements	$	35,305,192.74

Olympus Community Development District

Amended and Restated Master Assessment Methodology

AMENDED AND RESTATED MASTER ASSESSMENT METHODOLOGY REPORT OLYMPUS COMMUNITY DEVELOPMENT DISTRICT

June 2021

Prepared for:

Board of Supervisors,
Olympus Community Development District

Prepared on June 4, 2021

PFM Financial Advisors LLC
12051 Corporate Boulevard
Orlando, FL 32817

AMDENDED AND RESTATED
MASTER METHODOLOGY ASSESSMENT REPORT OLYMPUS COMMUNITY DEVELOPMENT DISTRICT

June 4, 2021

Introduction

Background

This “Amended & Restated Master Assessment Methodology Report” dated June 4, 2021 (“Amended Methodology”), effectively amends and restates the District’s “Master Assessment Methodology Report,” dated February 21, 2020 (“Master Methodology”) in order to reflect changes to the Olympus Community Development District’s (“District”) development program and capital improvement plan (“CIP”) which are not currently reflected in the Master Methodology. The Amended Methodology provides a system for the allocation of non-ad valorem special assessments securing the repayment of bond debt planned to be issued by the District to fund beneficial public infrastructure improvements and facilities. The Second Methodology applied herein has two goals: (1) quantifying the special benefits received by properties within the District as a result of the installation of the District’s improvements and facilities, and (2) equitably allocating the costs incurred by the District to provide these benefits to properties in the District.

The Olympus Community Development District (“District”) was created on December 10, 2019 by the City of Clermont. The District encompasses approximately 243.63 acres. The District Engineer’s report of May 2021 (“Engineer’s Report”)1 provides a description of the area and a location map.

This Amended Methodology provides a methodology to allocate the debt over the approximately 243.63 acres in Olympus that will receive a special benefit from the proposed District’s portion of the CIP to be installed in Olympus (“Properties”). It is the District’s debt-funded capital infrastructure improvements that will allow the development of the Properties in the District. By making development of the Properties within the District possible, the District creates benefits to these Properties.

The methodology described herein allocates the District’s debt to the Properties based upon the benefits each receives from the infrastructure program. In this case the Properties receiving benefit are the 244+/- acres of land within the District. This report is designed to conform to the requirements of Chapter 170,
F.S. with respect to special assessments and is consistent with our understanding of the case law on this subject.2

1 Mathews Engineering (May 2021), “Olympus Community Development District Report of District Engineer”
2 See for City of Winter Springs v. State, 776 So.2d 255 (Fla 2003) and City of Boca Raton, v. State, 595 So.2d 25 (Fla 1992)

Projected Land Use Plan for the Project

The landowner Olympus Orlando Holdings, LLC (“OOH”) Olympus is a mixed-use, sports and health focused, master planned community in Clermont with property identification number 21-23-26-0003-000- 00800. Clermont approved a planned unit development plan (“PUD”) that governs the development of Olympus. Table 1 summarizes the revised land use development plan. All the volumes are subject to change depending upon market conditions. The Olympus PUD allows the developer to shift land uses among categories within the limits prescribed under the Olympus PUD.

Table 1. Development Plan for Olympus

Category	Volume	
Sports Medicine, Fitness and Medical Offices (sqft)	345,333	
Independent and Assisted Living (units)	180	
Mixed Use Residential (units)	100	
Office (sqft)	155,800	
Retail (includes conference space) (sqft)	322,427	
Town Homes/Villas (units)	300	
Apartments (units)	608	
Hotel and Hospitality (rooms)	1,312	
Restaurants (sqft)	115,433	
Sports Venues - Arenas/Stadiums (acres)	50	
Source: The Landowner

At the outset, the capital improvement plan for the Project (“CIP”) is based on the projected land uses the Developer plans for the lands comprising the Project as shown in Table 1. However, until either: (a) parcels of land along with their development entitlements are sold by the Landowner to the new landowner and entitlements conveyed or (b) plats are filed, the precise land uses are unknown.

Therefore, the District initially will impose assessments (“Assessments”) on a per gross acre basis on the unsold and unplatted Properties within the District based on the land use plan outlined in Table 1 (or in any updates issued from time to time), and on any sold or platted Property in accordance with its actual land use or contractual entitlement as transferred to the new landowner from the Landowner.

The numerical analysis provided below is illustrative of the assessment methodology. Since actual costs may vary from the estimates, the actual figures may change as information becomes available. However, the information provided here is the best available at this time.

There is one important proviso. The debt per acre on the Property that remains unplatted in the District is not allowed to increase above its Ceiling Amount. The Ceiling Amount is set whenever the District issues debt. It is calculated by dividing the unplatted acres of the Properties in the District into the debt allocated to the unplatted Properties. In addition, this requirement will be tested at four intervals based upon the percentage of total acres that are developed. The intervals are at 25%, 50%, 75% and 100% of the gross acres.

CIP – Infrastructure Installation

The District will construct its public infrastructure and improvements as outlined in the Engineer’s Report, as prepared by the District Engineer. The District infrastructure and improvements for the District’s entire CIP are presented in Table 2.

Table 2. Summary of CIP Cost Estimates (1)

	PHASE 1	PHASE 2	PHASE 3	PHASE 4-7	TOTAL	
General
Mobilization	
$99,245	
$159,498	
$94,907	
$291,719	
$645,369	
Hardscaping & Landscaping	$300,000	$300,000	$300,000	$1,000,000	$1,900,000	
Wayfinding Signage	$50,000	$50,000	$50,000	$450,000	$600,000	

Demolition	
$72,000	
$132,000	
$50,400	
$90,600	
$345,000	

Utility Improvements	
$481,088	
$1,008,103	
$222,105	
$1,574,974	
$3,286,270	

Stormwater Pond Construction	
$297,685	
$369,525	
$0	
$37,357	
$704,568	

Roadway Stormwater Improvements	
$97,877	
$228,381	
$130,503	
$158,139	
$614,900	

Roadway Construction	
$1,743,245	
$1,463,945	
$1,506,139	
$3,994,306	
$8,707,636	
Subtotal	$3,141,141	$3,711,452	$2,354,055	$7,597,094	$16,803,742	
10% Contingency	$314,114	$371,145	$235,406	$759,709	$1,680,374	
Offsite Improvement Mitigation Cost	$942,102	$1,520,066	$1,436,326	$4,122,582	$8,021,076	
Amenity Improvements/Hardscaping		$250,000	$450,000	$2,800,000	$3,500,000	
Water/Sewer Extension from Clermont			$1,400,000	$1,400,000	$2,800,000	
Subtotal	$4,397,357	$5,852,663	$5,875,787	$16,679,386	$32,805,193	
Additional Fees/Costs	$106,800	$426,215	$277,219	$1,689,766	$2,500,000	
TOTAL	$4,504,157	$6,278,878	$6,153,006	$18,369,152	$35,305,193	

Additional Fees/Costs	
$					
Offsite Roadway Improvements	$500,000					
Signalization	$500,000					
Design Fees (Survey, Engineering, Certification)	$1,500,000					
Subtotal	$2,500,000					

TOTAL	
$35,305,193					
Source: Mathews Engineering Engineer's Report May 2021
Any costs outlined in the Engineer's Report not funded with bond proceeds will be funded via Developer's Agreement with the District

Requirements of a Valid Assessment Methodology

In PFM Financial Advisors LLC, the Assessment Consultant’s (“PFM FA” and/or “AC”) experience, there are two primary requirements for special assessments to be valid under Florida law. First, the properties assessed must receive a special benefit from the improvements paid for via the assessments. Second, the assessments must be fairly and reasonably allocated to the properties being assessed. If these two characteristics of valid special assessments are adhered to, Florida law provides some latitude to legislative bodies, such as the District’s Board of Supervisors, in approving special assessments. Indeed, Florida courts have found that the mathematical perfection of calculating special benefit is impossible, and, accordingly, a special assessment is valid as long as there is a logical relationship between the services provided and the benefit to real property. A court must give deference to the District’s determinations regarding the levy of special assessments, and such special assessments are only invalid if the District’s determinations are found to be arbitrary.

Special Benefits and General Benefits

Improvements undertaken by the District create both special benefits and general benefits to property owners located within and surrounding the District. However, in our opinion, the general benefits to the public at large are incidental in nature and are readily distinguishable from the special benefits which accrue to property located within the District. It is the District’s CIP that enables properties within the District’s boundaries to be developed. Without the District’s CIP there would be no infrastructure to support development of land within the District. Without these improvements, development of property in the District would not be permitted.

The new infrastructure improvements included in the CIP create both: (1) special benefits to the developable property within the District and (2) general benefits to properties outside the District. However, as discussed below, these general benefits are incidental in nature and are readily distinguishable from the special benefits which accrue to the developable property within the District. The CIP described in the District Engineer’s Report enables the developable property within the District to be developed. Without the CIP, there would be no infrastructure to support development of the developable property within the District.

Demonstration of Benefit

As described in Table 4, the estimated cost of the CIP, as funded totals $42,905,000. Since the District comprises 243.63 gross acres, the cost per gross acre in the District is $176,107 on a debt financed basis. As discussed in more detail below, at the time all of the Properties are developed according to the land plan in Table 1, the developed Properties will have absorbed all of the debt that was initially allocated on a gross acre basis.

Therefore, the proper analysis of the special benefit to the Properties in the District planned for development is to compare the current value of the property to be developed to the expected future value of the property after the total CIP is installed. As demonstrated below, the installation of the infrastructure will generate benefits well in excess of its $176,107 per acre cost by boosting the market value of the now undeveloped property well above the current land value (as described below) plus the cost of the infrastructure.
Table 3 demonstrates the expected special benefit to the Properties from the installation of the CIP. The development plan shown in Table 1 envisions a mixed-use development of hotels, townhomes, apartments, offices, retail space, and sports venues. As described below, Olympus is planned for 3,382 equivalent residential units (“ERU”). Since the District comprises 243.63 gross acres, the plan is for a gross density of 13.9 ERUs per acre.

Based on current market pricing, the estimated sellout value plus the value of the District debt assumed by the Properties totals over $125 million for an average value of $36,955 per ERU. Considering the variety of land uses envisioned for Olympus, and the large amount of sports venues planned, the relationship between the average value of an ERU and the finished building pad, or prepared field/venue area, is 50%. In other words, the finished building pads or areas have a value of $18,478 per ERU.

The CIP has a total cost as financed of $42,905,000 for 3,382 ERUs, thus the cost to produce a finished pad or area is $12,684. The market value of the land, as improved by the CIP, is then estimated as the difference between the value of the finished ERU of $18,478 and the cost of the improvements per lot of
$12,684 resulting in a residual value for the land, as improved, of $5,793 per ERU. The foregoing market value is subject to change based on the final pricing details of the District’s bond issues and the market value of the products to be built on the Properties.

According to the Lake County Property Appraiser, the 243.66 acres of land that comprise Olympus was purchased for $12,180,700. The development program produces a density of 13.9 ERUs per acre, so the land value per ERU is $3,601.

Therefore, the District’s CIP will provide a special benefit to the Properties. The cost of the raw land at an expected density of 13.9 ERUs per acre is $3,601 per ERU. The net increase in the market value of the lots once improved by the District’s CIP is estimated at $5,793. Therefore, the net benefit in market value of the lots after deducting the cost of the land before the improvements is $2,192 (i.e. $5,793 -
$3,601 = $2,192). This demonstrates the special benefits generated by the CIP to the Properties.

Table 3. Demonstration of Special Benefit for Properties in Olympus

Category	Amount	
Equivalent Units	3,382	
District Acreage	243.63
========	
Units/Acre	13.88	
Average Price/ERU	$36,955	
Finished Land Price/ERU	$18,478	
Cost per ERU	$12,684
========	
Remainder	$5,793	
Land Cost	$12,180,700	
Acres	243.63	
Cost/Acre	$49,997	
Cost/ERU	$3,601	

Net Benefit	========
$2,192	
Source: PFM Financial Advisors LLC
*Based on the 2020 assessed value of all assessable District land provided by the Lake County Property Appraiser.

CIP Plan of Finance

The District has advised it intends to finance all or a portion of its CIP costs as detailed in Table 3 by issuing bonds. These bonds may be issued in several series, as development progresses within the District. Several component funds comprise the total principal of the bonds to be issued by the District. These funds may include, but are not limited to, acquisition and construction, capitalized interest, a debt service reserve, underwriter’s discount, and issuance costs. The debt service reserve account is set initially at 100% of maximum annual debt service. The bond sizing includes 30 months of capitalized interest. The underwriter’s discount is estimated at 2.0% of par. This allowance pays the underwriter for taking the risks involved in purchasing the District’s bonds. The cost of issuance pays for the trustee, financial advisor, district counsel and other costs associated with issuing the District's bonds.

An estimate of the bond issuance required to fund the District’s CIP is found in Table 4. The construction/acquisition funds raised by the District's bonds may fund only a portion of the District's CIP. The balance of any remaining CIP costs will be funded by one or more District landowner(s) or by other means. As bonds are issued by the District over time, the District will adopt supplemental assessment methodology report(s) detailing the particulars of each specific bond issue. The supplemental report(s) will detail the terms, interest rates, and costs associated with a specific series of bonds. The supplemental report(s) will also detail the specific bond debt service assessments for properties that have been assessed to secure each bond issuance.

Table 4. Estimated District Bond Financing Details

Category	Series 2021 Bonds	Series 2023	Total	
Construction Fund	$16,936,041	$18,369,152	$35,305,193	
Debt Service Reserve	$1,335,181	$1,497,601	$2,832,782	
Capitalized Interest	$1,539,375	$1,762,425	$3,301,800	
Cost of Issuance	$300,000	$300,000	$600,000	
Underwriter's Discount	$410,500	$447,600	$858,100	
Rounding	$3,903
============	$3,222
============	$7,126
============	
Total	$20,525,000	$22,380,000	$42,905,000	
Rate	5.00%	5.25%	5.13%	
Term	30	30	30	
Maximum Annual Debt Service (net):	$1,335,181	$1,497,601	$2,832,782	
Maximum Annual Debt Service (gross):	$1,435,678	$1,610,324	$3,046,002	
Source: PFM Financial Advisors LLC
Gross assessments represent the assessment placed on the County tax roll each year, if the District elects to use the Uniform Method of collecting non- ad valorem assessments authorized by Chapter 197 of the Florida Statutes. Gross assessments include a 7.0% gross-up to account for the fees of the County Property Appraiser and Tax Collector and the statutory early payment discount.

Assessment Methodology

Assessment Foundation

The assessment methodology associated with the allocation of the costs of the CIP is a four-step process. First, the District Engineer determines the costs for the District’s infrastructure and related improvements. Second, an estimate of the amount of bonds required to finance the infrastructure improvements is calculated. Third, the District Engineer outlines which parcels benefit from the provision of the infrastructure and improvements. Finally, the as-financed costs of the infrastructure and related improvements are allocated to the benefiting properties based on the approximate relative benefit each unit receives.

Allocation of Specific Assessments

The discussion offered below illustrates the process by which the District will allocate bond debt it incurs to fund its CIP. The District’s maximum $42,905,000 of total bond debt is detailed in Table 4. The District’s bond debt will be secured primarily by special assessments allocated to properties in the District based on and proportional to the benefits that each property receives from the CIP. As described above, until such time as either: (a) properties are sold along with their entitlements or (b) plats are recorded; the specific land uses in the District are not known with certainty. Therefore, at the outset, the debt is allocated on an acreage basis across all benefited acres in the District totaling approximately 243.63 acres. As the sale and platting process unfolds, the District will more finely articulate the allocation of debt to benefiting properties based on their land uses.

As noted above, as long as two basic principles are adhered to, Florida law generally allows the District Board some latitude in determining the appropriate methodology to allocate the costs of its CIP to benefiting properties in the District. The two principles are: (1) the properties being assessed must receive a special benefit from the CIP and (2) the assessments allocated to each property must be fairly and reasonably apportioned among the benefiting properties.

In allocating special assessments to benefiting property, Florida governments have used a variety of methods including, but not limited to, front footage, area, trip rates, equivalent residential units (“ERU”), dwelling units, and acreage. These ERU values equate the benefit received by a stated amount of such particular land use category to the benefit received by a typical single-family residence. The use of ERU values to estimate the benefit derived from infrastructure improvements is recognized as a simple, fair, and reasonable method for apportioning benefit. The Florida Supreme Court concluded that the ERU method was a valid methodology in its decision in Winter Springs v. State.3 In addition, the ERU methodology is widely used in other similar CDDs.

Table 5 contains the allocation of the District’s CIP costs, as financed, to the Development Units planned for the District based on the ERU value assigned to each Development Unit. Table 6 shows the annual bond debt service assessments associated with the bond par allocations found in Table 5. Table 6 becomes important as the land within the District is platted, as specific bond debt service assessments will be assigned to the individual Development Units at that time.

Table 5. Allocation of the Costs of the District’s CIP, as Financed

Land Use	Volume	ERU/Unit	ERUs	%ERU	Total Debt	Debt/Unit	
Sports Medicine, Fitness and Medical Offices	345,333	0.001	230.22	7%	$2,920,249	$8.46	
Independent and Assisted Living	180	1.000	180.00	5%	$2,283,208	$12,684.49	
Mixed Use Residential	100	1.000	100.00	3%	$1,268,449	$12,684.49	
Office	155,800	0.001	77.90	2%	$988,122	$6.34	
Retail (includes conference space)	322,427	0.001	161.21	5%	$2,044,911	$6.34	
Town Homes/Villas	300	1.500	450.00	13%	$5,708,021	$19,026.74	
Apartments	608	0.500	304.00	9%	$3,856,085	$6,342.25	
Hotel and Hospitality	1,312	1.000	1,312.00	39%	$16,642,053	$12,684.49	
Restaurants	15,433	0.001	115.43	3%	$1,464,209	$12.68	
Sports Venues - Arenas/Stadiums	50	9.078	451.71	13%	$5,729,692	$115,146.54	

Total			=======
3,382.48	=======
100%	=======
$42,905,000		
Source: PFM Financial Advisors LLC

3 City of Winter Springs v. State, 776 So.2d 255 (Fla 2003)

Table 6. Summary of Annual Assessments

Land Use
Sports Medicine, Fitness and Medical	Total Debt	Annual Assessment	Administrative Costs	Total Annual Assessment	
Offices	$2,920,249	$192,808	$14,512	$207,320	
Independent and Assisted Living	$2,283,208	$150,748	$11,347	$162,094	
Mixed Use Residential	$1,268,449	$83,749	$6,304	$90,052	
Office	$988,122	$65,240	$4,911	$70,151	
Retail (includes conference space)	$2,044,911	$135,014	$10,162	$145,177	
Town Homes/Villas	$5,708,021	$376,869	$28,367	$405,236	
Apartments	$3,856,085	$254,596	$19,163	$273,759	
Hotel and Hospitality	$16,642,053	$1,098,783	$82,704	$1,181,488	
Restaurants	$1,464,209	$96,674	$7,277	$103,950	
Sports Venues - Arenas/Stadiums	$5,729,692	$378,300	$28,474	$406,774	
	=========	=========	=========	=========	
Total	$42,905,000	$2,832,782	$213,220	$3,046,002	

Land Use	
Debt/Unit	
Annual Assessment	
Administrative Costs	
Total Annual Assessment	
Sports Medicine, Fitness and Medical Offices	
$8.46	
$0.56	
$0.04	
$0.60	
Independent and Assisted Living	$12,684.49	$837.49	$63.04	$900.52	
Mixed Use Residential	$12,684.49	$837.49	$63.04	$900.52	
Office	$6.34	$0.42	$0.03	$0.45	
Retail (includes conference space)	$6.34	$0.42	$0.03	$0.45	
Town Homes/Villas	$19,026.74	$1,256.23	$94.56	$1,350.79	
Apartments	$6,342.25	$418.74	$31.52	$450.26	
Hotel and Hospitality	$12,684.49	$837.49	$63.04	$900.52	
Restaurants	$12.68	$0.84	$0.06	$0.90	
Sports Venues - Arenas/Stadiums	$115,146.54	$7,602.49	$572.23	$8,174.72	
Source: PFM Financial Advisors LLC
Gross assessments represent the assessment placed on the County tax roll each year, if the District elects to use the Uniform Method of collecting non-ad valorem assessments authorized by Chapter 197 of the Florida Statutes. Gross assessments include a 7.0% gross-up to account for the fees of the County Property Appraiser and Tax Collector and the statutory early payment discount.

True-Up Mechanism

Although the District does not process plats, it does have an important role to play during the course of development. Whenever a parcel’s land use and development density and intensity is determined with sufficient certainty, the District must allocate a portion of its debt to the parcel according to the procedures outlined in Section 3.2 above. In addition, the District must also prevent any buildup of debt on land that has not yet been developed. Otherwise, the land could be fully subdivided without all of the debt being allocated.

To preclude this, a test is conducted when development thresholds are reached within the District. As long as the development at these thresholds does not cause the debt on the remaining land to increase above a debt “Ceiling Level” illustrated in Table 8 below, then no further action in necessary. However, if the debt on the remaining land does increase, a debt reduction payment will be necessary.

The ceiling level of debt is established at the time each series of bonds is issued. For example, the District may issue up to $42,905,000 in Bonds to fund the CIP. According to the Engineer’s Report, there are approximately 243.63 gross acres of land within the District. Each of these acres will be assigned an equal assessment of the $42,905,000 in remaining unassigned bond debt assessments. Therefore, and assuming for purposes of this illustration that all $42,905,000 in anticipated bond debt is issued by the District to fund its CIP, the ceiling level of debt for developable and assessable properties would be
$176,107 per acre ($42,905,000 / 243.63). This ceiling level is based upon the best information available at the time of this report, is subject to change, and will only be finalized at the time of the District’s first bond issuance.

A test will be conducted when 25%, 50%, 75%, and 90% of the acreage within the District has been developed. The ceiling amount of debt is determined at the time any District bond issuance is closed. The ceiling amount is the ratio of the amount of debt outstanding divided by the number of acres of land for which no debt allocation has occurred as per this methodology. Table 7 illustrates when the true-up test will be applied to determine if debt reduction payments are required. However, a true-up payment may be suspended at the District’s discretion. If the property owner can demonstrate to the District, and the District finds in its discretion (consistent with the opinion of the District Engineer), that all necessary land use approvals, including applicable zoning, can reasonably and economically support development totaling greater than or equal to 3,382 units, or the non-residential space for the District (in place of the assisted living units), on the remaining unplatted developable acreage within the remaining acres, a true- up payment may be suspended.

Table 7. True- Up Thresholds

Category	25%	50%	75%	90%	100%	
Platted Developable Acres	60.9	121.8	182.7	219.3	243.6	
Unplatted Developable Acres	182.7	121.8	60.9	24.4	-	
Debt Ceiling per Acre	$176,107	$176,107	$176,107	$176,107	$176,107	

In the event that additional land not currently subject to the assessments required to repay the debt associated with the CIP is developed in such a manner as to receive special benefit from the CIP, it is contemplated that this Methodology will be re-applied to include such new parcels. The additional land, as a result of applying this Methodology, will be allocated an appropriate share of the special assessments, with all previously-assessed parcels receiving a relative adjustment in their assessment levels.

4.0	Contribution of District Infrastructure and/or Improvements

The costs of the District’s CIP will likely be funded by two mechanisms. The first mechanism is the issuance of special assessment bonds. The second mechanism is the contribution of funds or CIP components to the District (“Contribution”). Property owners within the District will have the opportunity to make such a Contribution upon approval by the District.

A District property owner’s Contribution will give rise to assessment credits that can be applied by the property owner to reduce or eliminate bond debt service assessments that would otherwise be assigned to lands within the District to fund the costs of the CIP. Prior to a property owner reducing or eliminating bond debt service assessments through a Contribution, it must be shown that the improvements funded or contributed by the property owner are a component of the CIP, as outlined in the Engineer’s Report. The property owner will be permitted to apply assessment credits equal to the value of the Contribution plus the costs of financing the improvement(s) that would otherwise have been incurred by the District if the District were required to issue bonds to fund or acquire the improvement(s) (such that the property would not be responsible for bond financing costs if the Contribution was made prior to the District’s issuance of special assessment bonds). A property owner possessing assessment credits due to a Contribution will, in the District’s discretion, have the opportunity to use the assessment credits to adjust bond debt service assessment levels of Development Units.

5.0	Assessment Roll

Table 8 outlines the maximum bond principal assessment per assessable acre for the lands within the District. A description of the land within the District, which will be assessed to secure the repayment of the District’s bonds, is found in Exhibit “A”, below. The assessments shall be paid in not more than thirty
(30) annual installments.

Table 8. Assessment Roll

Tax ID Number	Acres	Par Debt	Annual Assessment	Administrative Fees	Total Annual Assessment	
309001000	243.63	$42,905,000	$2,834,423	$213,344	$3,047,767	

Total	========
243.63	===========
$42,905,000	===========
$2,834,423	===========
$213,344	===========
$3,047,767	
Source: PFM Financial Advisors LLC
(1)   Gross assessments represent the assessment placed on the County tax roll each year, if the District elects to use the Uniform Method of collecting non-ad valorem assessments authorized by Chapter 197 of the Florida Statutes. Gross assessments include a 7.0% gross-up to account for the fees of the County Property Appraiser and Tax Collector and the statutory early payment discount.

Exhibit A – Legal Description

Olympus Community Development District

Resolution 2021-02, Declaring Special Assessments

RESOLUTION 2021-02

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE OLYMPUS COMMUNITY DEVELOPMENT DISTRICT DECLARING SPECIAL ASSESSMENTS; INDICATING THE LOCATION, NATURE AND ESTIMATED COST OF THOSE INFRASTRUCTURE IMPROVEMENTS WHOSE COST IS TO BE DEFRAYED BY THE SPECIAL ASSESSMENTS; PROVIDING THE PORTION OF THE ESTIMATED COST OF THE IMPROVEMENTS TO BE DEFRAYED BY THE SPECIAL ASSESSMENTS; PROVIDING THE MANNER IN WHICH SUCH SPECIAL ASSESSMENTS SHALL BE MADE; PROVIDING WHEN SUCH SPECIAL ASSESSMENTS SHALL BE PAID; DESIGNATING LANDS UPON WHICH THE SPECIAL ASSESSMENTS SHALL BE LEVIED; PROVIDING FOR AN ASSESSMENT PLAT; ADOPTING A PRELIMINARY ASSESSMENT ROLL; PROVIDING FOR PUBLICATION OF THIS RESOLUTION.

WHEREAS, the Board of Supervisors (the “Board”) of the Olympus Community Development District (the “District”) hereby determines to undertake, install, plan, establish, construct or reconstruct, enlarge or extend, equip, acquire, operate, and/or maintain the infrastructure improvements (the “Improvements”) described in the District’s Amended Report of District Engineer, dated	2021, attached hereto as Exhibit A and incorporated herein by reference; and

WHEREAS, it is in the best interest of the District to pay the cost of the Improvements by special assessments pursuant to Chapter 190, Florida Statutes (the “Assessments”); and

WHEREAS, the District is empowered by Chapter 190, the Uniform Community Development District Act, Chapter 170, Supplemental and Alternative Method of Making Local Municipal Improvements, and Chapter 197, the Uniform Method for the Levy, Collection and Enforcement of Non-Ad Valorem Assessments, Florida Statutes, to finance, fund, plan, establish, acquire, construct or reconstruct, enlarge or extend, equip, operate, and maintain the Improvements and to impose, levy and collect the Assessments; and

WHEREAS, the District hereby determines that benefits will accrue to the property improved, the amount of those benefits, and that special assessments will be made in proportion to the benefits received as set forth in the Amended and Restated Master Assessment Methodology Report, dated	, 2021, attached hereto as Exhibit B and incorporated herein by reference and on file at 12051 Corporate Blvd., Orlando, Florida 32817 (the “District Records Office”); and

WHEREAS, the District hereby determines that the Assessments to be levied will not exceed the benefit to the property improved.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE OLYMPUS COMMUNITY DEVELOPMENT DISTRICT:

Assessments shall be levied to defray a portion of the cost of the Improvements.

The nature and general location of, and plans and specifications for, the Improvements are described in Exhibit A, which is on file at the District Records Office. Exhibit B is also on file and available for public inspection at the same location.

The total estimated cost of the Improvements is $	(the “Estimated
Cost”).

The Assessments will defray approximately $	, which amounts include the Estimated Costs, plus financing-related costs, capitalized interest and a debt service reserve.

The manner in which the Assessments shall be apportioned and paid is set forth in
Exhibit B, including provisions for supplemental assessment resolutions.

The Assessments shall be levied, within the District, on all lots and lands adjoining and contiguous or bounding and abutting upon the Improvements or specially benefitted thereby and further designated by the assessment plat hereinafter provided for.

There is on file, at the District Records Office, an assessment plat showing the area to be assessed, with certain plans and specifications describing the Improvements and the estimated cost of the Improvements, all of which shall be open to inspection by the public.

Commencing with the year in which the Assessments are levied and confirmed, the Assessments shall be paid in not more than (30) thirty annual installments. The Assessments may be payable at the same time and in the same manner as are ad-valorem taxes and collected pursuant to Chapter 197, Florida Statutes; provided, however, that in the event the uniform non ad-valorem assessment method of collecting the Assessments is not available to the District in any year, or if determined by the District to be in its best interest, the Assessments may be collected as is otherwise permitted by law.

The District Manager has caused to be made a preliminary assessment roll, in accordance with the method of assessment described in Exhibit B hereto, which shows the lots and lands assessed, the amount of benefit to and the assessment against each lot or parcel of land

and the number of annual installments into which the assessment may be divided, which assessment roll is hereby adopted and approved as the District's preliminary assessment roll.

The Board shall adopt a subsequent resolution to fix a time and place at which the owners of property to be assessed or any other persons interested therein may appear before the Board and be heard as to the propriety and advisability of the assessments or the making of the Improvements, the cost thereof, the manner of payment therefore, or the amount thereof to be assessed against each property as improved.

The District Manager is hereby directed to cause this Resolution to be published twice (once a week for two (2) consecutive weeks) in a newspaper of general circulation within Lake County and to provide such other notice as may be required by law or desired in the best interests of the District.

This Resolution shall become effective upon its passage.

PASSED AND ADOPTED this 4th day of June, 2021.

ATTEST:	OLYMPUS COMMUNITY
DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairman, Board of Supervisors

Exhibit A:	Amended Engineer’s Report, dated	, 2021
Exhibit B:	Amended	and	Restated	Master	Assessment	Methodology	Report,	dated
 	, 2021

Olympus Community Development District

Resolution 2021-03, Setting the Public Hearing for Imposing Special Assessments

RESOLUTION 2021-03

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE OLYMPUS COMMUNITY DEVELOPMENT DISTRICT SETTING A PUBLIC HEARING TO BE HELD ON	, 2021, AT  	
    .M. AT	, FOR THE PURPOSE OF HEARING PUBLIC COMMENT ON IMPOSING SPECIAL ASSESSMENTS ON CERTAIN PROPERTY WITHIN THE DISTRICT GENERALLY DESCRIBED AS THE OLYMPUS COMMUNITY DEVELOPMENT DISTRICT IN ACCORDANCE WITH CHAPTERS 170, 190 AND 197, FLORIDA STATUTES.

WHEREAS, the Board of Supervisors of the Olympus Community Development District (the “Board”) has previously adopted Resolution 2021- entitled:

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE OLYMPUS COMMUNITY DEVELOPMENT DISTRICT DECLARING SPECIAL ASSESSMENTS; INDICATING THE LOCATION, NATURE AND ESTIMATED COST OF THOSE INFRASTRUCTURE IMPROVEMENTS WHOSE COST IS TO BE DEFRAYED BY THE SPECIAL ASSESSMENTS; PROVIDING THE PORTION OF THE ESTIMATED COST OF THE IMPROVEMENTS TO BE DEFRAYED BY THE SPECIAL ASSESSMENTS; PROVIDING THE MANNER IN WHICH SUCH SPECIAL ASSESSMENTS SHALL BE MADE; PROVIDING WHEN SUCH SPECIAL ASSESSMENTS SHALL BE PAID; DESIGNATING LANDS UPON WHICH THE SPECIAL ASSESSMENTS SHALL BE LEVIED; PROVIDING FOR AN ASSESSMENT PLAT; ADOPTING A PRELIMINARY ASSESSMENT ROLL; PROVIDING FOR PUBLICATION OF THIS RESOLUTION.

WHEREAS, in accordance with Resolution 2021- , a Preliminary Special Assessment Roll has been prepared and all other conditions precedent set forth in Chapters 170, 190 and 197, Florida Statutes, to the holding of the aforementioned public hearing have been satisfied, and the roll and related documents are available for public inspection 12051 Corporate Blvd., Orlando, Florida 32817 (the “District Records Office”).

NOW THEREFORE BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE OLYMPUS COMMUNITY DEVELOPMENT DISTRICT:

There is hereby declared a public hearing to be held at	_.m. on
 	, 2021, at	, for the purpose of hearing comment and objections to the proposed special assessment program for District improvements as identified in the Preliminary Special Assessment Roll, a copy of which is on file. Affected parties may appear at that hearing or submit their comments in writing prior to the hearing to the office of the District Manager at 12051 Corporate Blvd., Orlando, Florida

32817; (407) 723-5900.

Notice of said hearing shall be advertised in accordance with Chapters 170, 190 and 197, Florida Statutes, and the District Manager is hereby authorized and directed to place said notice in a newspaper(s) of general circulation within Lake County (by two publications one week apart with the first publication at least twenty (20) days prior to the date of the hearing established herein). The District Manager shall file a publisher's affidavit with the District Secretary verifying such publication of notice. The District Manager is further authorized and directed to give thirty
(30) days written notice by mail of the time and place of this hearing to the owners of all property to be assessed and include in such notice the amount of the assessment for each such property owner, a description of the areas to be improved and notice that information concerning all assessments may be ascertained at the District Records Office. The District Manager shall file proof of such mailing by affidavit with the District Secretary.

This Resolution shall become effective upon its passage.

PASSED AND ADOPTED this 4th day of June, 2021.

ATTEST:	OLYMPUS COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairman

Olympus Community Development District

Payment Authorization Nos. 15R -26

Olympus
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 015 (revised)	
9/23/2020	

Item	Vendor	Invoice	General	Fiscal	
No.		Number	Fund	Year	

FY 2021

1	Egis Insurance & Risk Advisors		
	FY 2021 Insurance	11659	

$   5,000.00

2	Orlando Sentinel		
	Legal Advertising Through 07/31/2020	OSC23213545	
	Legal Advertising Through 09/30/2020	OSC25922510	

$	845.02	
$	260.00	

FY 2020	
FY 2021	

3	PFM Group Consulting		
	Legal Advertising Reimbursement	110912	
	FedEx: May 2020	OE-EXP-00911	
	Postage: August 2020	OE-EXP-01082	
	Postage: September 2020	OE-EXP-01142	

$ 2,585.05	
$	7.86	
$	1.00	
$	1.00	

FY 2020	
FY 2020	
FY 2020	
FY 2020	

4	VGlobalTech		
	August Website Maintenance	1853	
	September Website Maintenance	1915	
	July - September ADA Audit	1959	
	October Website Maintenance	2028	

$	125.00	
$	125.00	
$	300.00	
$	125.00	

FY 2020	
FY 2020	
FY 2020	
FY 2021	

TOTAL	$   9,374.93

3,989.93	FY 2020	
5,385.00	FY 2021	

Board Member

Olympus
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 016 (FY 2020 only)	
10/20/2020	

Item	Vendor	Invoice	General	Fiscal	
No.		Number	Fund	Year	

1	Hopping Green & Sams		
	General Counsel Through 06/30/2020	116148	
	General Counsel Through 07/31/2020	116743	
	General Counsel Through 08/31/2020	117639	

$	874.00	
$	663.00	
$	887.54	

FY 2020	
FY 2020	
FY 2020	

2	PFM Group Consulting		
	DM Fee: April 2020	DM-04-2020-0093	
	DM Fee: May 2020	DM-05-2020-0092	
	DM Fee: June 2020	DM-06-2020-0083	
	DM Fee: July 2020	DM-07-2020-0080	
	DM Fee: August 2020	DM-08-2020-0073	
	DM Fee: September 2020	DM-09-2020-0056	

$ 4,166.67	
$ 4,166.67	
$ 4,166.67	
$ 4,166.67	
$ 4,166.67	
$ 4,166.63	

FY 2020	
FY 2020	
FY 2020	
FY 2020	
FY 2020	
FY 2020	

TOTAL	$ 27,424.52

27,424.52	FY 2020	
-	FY 2021	

Board Member

Olympus
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 017 (FY 2020 only)	
11/19/2020	

Item	Vendor	Invoice	General	Construction	Fiscal	
No.		Number	Fund	Fund	Year	

$	9,664.00	
$	9,281.24	
$	292.81	

FY 2020	
FY 2020	
FY 2020	
FY 2020	

1	Hopping Green & Sams		
	Bond Validation Counsel Through 06/30/2020	116149	
	Bond Validation Counsel Through 07/31/2020	116744	
	Bond Validation Counsel Through 08/31/2020	117640	
	General Counsel Through 09/30/2020	118216	

$	161.61

$	161.61	$ 19,238.05

TOTAL	$ 19,399.66

161.61	19,238.05	FY 2020	
-	-	FY 2021	

Board Member

Olympus
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 018 (FY 2021 only)	
11/19/2020	

Item	Vendor	Invoice	General	Fiscal	
No.		Number	Fund	Year	

FY 2021

1	Department of Economic Opportunity		
	FY 2021 Special District Fee	83700	

$	175.00

2	PFM Group Consulting		
	Legal Advertising Reimbursement	112168	
	DM fee: October 2020	DM-10-2020-0048	
	DM fee: November 2020	DM-11-2020-0043	

$	845.02	
$ 4,166.67	
$ 4,166.67	

FY 2021	
FY 2021	
FY 2021	

FY 2021

3	VGlobalTech		
	November Website Maintenance	2105	

$	125.00

TOTAL	$ 9,478.36

-	FY 2020	
9,478.36	FY 2021	

Board Member

Olympus
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 019	
12/18/2020	

Item	Vendor	Invoice	General	
No.		Number	Fund	

1	Hopping Green & Sams		
	General Counsel Through 10/31/2020	118675	

$	573.28

2	PFM Group Consulting		
	DM Fee: December 2020	DM-12-2020-0034	

$ 4,166.67

3	VGlobalTech		
	December Website Maintenance	2183	

$	125.00

TOTAL	$ 4,864.95

Board Member

Olympus
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 020	
12/31/2020	

Item	Vendor	Invoice	General	
No.		Number	Fund	

1	Hopping Green & Sams		
	General Counsel Through 11/30/2020	119241	

$	716.91

2	PFM Group Consulting		
	November Postage	OEX-EXP-12-36	

$	2.00

TOTAL	$	718.91

Board Member

Olympus
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 021	
1/15/2021	

Item	Vendor	Invoice	General	
No.		Number	Fund	

1	VGlobalTech		
	October - December ADA Audit	2240	
	January Website Maintenance	2307	

$	300.00	
$	125.00	

TOTAL	$	425.00

Board Member

Olympus
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 022	
2/19/2021	

Item	Vendor	Invoice	General	
No.		Number	Fund	

1	PFM Group Consulting		
	DM Fee: January 2021	DM-01-2021-0033	
	DM Fee: February 2021	DM-02-2021-0034	

$ 1,388.89	
$ 1,388.89	

2	VGlobalTech		
	February Website Maintenance	2383	

$	125.00

TOTAL	$ 2,902.78

Board Member

Olympus
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 023	
3/12/2021	

Item	Vendor	Invoice	General	
No.		Number	Fund	

1	PFM Group Consulting		
	DM Fee: March 2021	DM-03-2021-0035	

$ 1,388.89

2	VGlobalTech		
	March Website Maintenance	2465	

$	125.00

TOTAL	$ 1,513.89

Board Member

Olympus
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 024	
4/2/2021	

Item	Vendor	Invoice	General	
No.		Number	Fund	

1	Hopping Green & Sams		
	General Counsel Through 02/28/2021	121334	

$ 1,602.00

2	VGlobalTech		
	April Website Maintenance	2596	

$	125.00

TOTAL	$ 1,727.00

Board Member

Olympus
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 025	
4/30/2021	

Item	Vendor	Invoice	General	
No.		Number	Fund	

1	Hopping Green & Sams		
	General Counsel Through 03/31/2021	121933	

$ 1,558.00

2	PFM Group Consulting		
	DM Fee: April 2021	DM-04-2021-0035	
	March Postage	OE-EXP-04-30	

$ 1,388.89	
$	5.60	

3	VGlobalTech		
	January - March ADA Audit	2551	

$	300.00

TOTAL	$ 3,252.49

Board Member

Olympus
C O M M U N I T Y	D E V E L O P M E N T	D I S T R I C T

Payment Authorization No. 026	
5/14/2021	

Item	Vendor	Invoice	General	
No.		Number	Fund	

1	PFM Group Consulting		
	April Reimbursables	OE-EXP-05-38	

$	0.51

2	VGlobalTech		
	May Website Maintenance	2672	

$	125.00

TOTAL	$	125.51

Board Member

Olympus Community Development District

District’s Financial Position and Budget to Actual YTD

Olympus CDD
Statement of Financial Position As of 4/30/2021

General Fund	Construction Fund

Total

Assets

Current Assets
General Checking Account	$1,826.05				

$1,826.05	
Accounts Receivable - Due from Developer	9,821.16				9,821.16	
Total Current Assets	$11,647.21		$0.00		$11,647.21	

Total Assets	$11,647.21		$0.00		$11,647.21	

Liabilities and Net Assets					
Current Liabilities
Accounts Payable	$9,821.16				
$9,821.16	
Deferred Revenue	9,821.16				9,821.16	
Total Current Liabilities	$19,642.32		$0.00		$19,642.32	

Total Liabilities	$19,642.32		$0.00		$19,642.32	

Net Assets
Net Assets, Unrestricted	($984.00)				

($984.00)	
Net Assets - General Government	(41,473.33)				(41,473.33)	
Current Year Net Assets - General Government	34,462.22				34,462.22	

Total Net Assets	($7,995.11)		$0.00		($7,995.11)	

					
Total Liabilities and Net Assets	$11,647.21		$0.00		$11,647.21	

Olympus CDD Statement of Activities As of 4/30/2021

General Fund	Construction Fund

Total

Revenues

Developer Contributions	$59,013.69				$59,013.69	
Developer Contributions			$19,238.05		19,238.05	
Total Revenues	$59,013.69		$19,238.05		$78,251.74	

Management	$18,055.57				$18,055.57	
District Counsel	3,733.28				3,733.28	
Postage & Shipping	7.60				7.60	
Legal Advertising	1,105.02				1,105.02	
Web Site Maintenance	1,475.00				1,475.00	
Dues, Licenses, and Fees	175.00				175.00	
Total Expenses	$24,551.47	$0.00	$24,551.47

her Revenues (Expenses) & Gains (Losses)	
Total Other Revenues (Expenses) & Gains (Losses)	$0.00		$0.00		$0.00	
Change In Net Assets	$34,462.22		$19,238.05		$53,700.27	

Net Assets At Beginning Of Year	
($42,457.33)		
($19,238.05)		
($61,695.38)	

Net Assets At End Of Year	
($7,995.11)		
$0.00		
($7,995.11)	

Expenses

Ot

Olympus CDD
Budget to Actual
For the Month Ending 4/30/2021

Year To Date

Actual	Budget	Variance

FY 2021
Adopted Budget

Revenues

Developer Contributions	$	59,013.69		$	72,843.75		$	(13,830.06)		$ 124,875.00	
Net Revenues	$	59,013.69		$	72,843.75		$	(13,830.06)		$ 124,875.00	
General & Administrative Expenses								
Public Officials' Liability Insurance	$	-		$	1,370.81		$	(1,370.81)		$	2,350.00	
Management	18,055.57		29,166.69		(11,111.12)		50,000.00	
Engineering	-		5,833.31		(5,833.31)		10,000.00	
Dissemination Agent	-		2,916.69		(2,916.69)		5,000.00	
District Counsel	3,733.28		14,583.31		(10,850.03)		25,000.00	
Assessment Administration	-		4,375.00		(4,375.00)		7,500.00	
Audit	-		3,500.00		(3,500.00)		6,000.00	
Travel and Per Diem	-		583.31		(583.31)		1,000.00	
Telephone	-		29.19		(29.19)		50.00	
Postage & Shipping	7.60		175.00		(167.40)		300.00	
Copies	-		175.00		(175.00)		300.00	
Legal Advertising	1,105.02		5,541.69		(4,436.67)		9,500.00	
Bank Fees	-		145.81		(145.81)		250.00	
Miscellaneous	-		583.38		(583.38)		1,000.00	
Meeting Room	-		554.19		(554.19)		950.00	
Web Site Maintenance	1,475.00		1,575.00		(100.00)		2,700.00	
Dues, Licenses, and Fees	175.00		102.06		72.94		175.00	
General Insurance	-		1,633.31		(1,633.31)		2,800.00	
Total General & Administrative Expenses	$	24,551.47		$	72,843.75		$	(48,292.28)		$ 124,875.00	

Total Expenses	
  $	24,551.47  		
   $	72,843.75  		
   $	(48,292.28)		
  $ 124,875.00  	
Net Income (Loss)	$	34,462.22		$	-		$	34,462.22		$	-