MINUTES Of MEETING
UNIVERSITY PARK RECREATION DISTRICT
BOARD OF SUPERVISORS' MEETING
Friday, April 12, 2024
1:00 p.m.
The Business Offices
8301 The Park Boulevard, University Park, FL 34201

Board Members present at roll call in person or via phone:

Sally Dickson Mark Criden Steve Ludmerer David Murphy Rusty Piersons

Chairperson
Vice Chairperson Treasurer/2nd Vice Chairperson Assistant Secretary
Assistant Secretary

Also, Present in person or via phone:

Vivian Carvalho	 District Manager - PFM Group Consulting LLC Kwame Jackson	 ADM - PFM Group Consulting LLC	 (via Zoom) Venessa Ripoll	PFM Group Consulting LLC	(via Zoom) Brent Wilder	 PFM Financial Advisors	 (via Zoom) Mark Barnebey	 District Counsel- Blalock Walters
John Fetsick	General Manager - Country Club Various audience members in person and via Zoom

FIRST ORDER OF BUSINESS		Organizational Matters Call to Order and Roll Call
The meeting was call to order at 1:00 p.m. by Ms. Dickson and Ms. Carvalho confirmed quorum to proceed. Those in attendance are outlined above.

The Board proceeded with the Pledge of Allegiance.

Public Comments

A homeowner had comments about the audited financial statements.

It was noted that the auditing firm will make a presentation on the audited financial report during the meeting.

A homeowner provided comments, attached as Exhibit A, related to the proposed non­ resident membership cap.

SECOND ORDER OF BUSINESS	Administrative Matters

Acceptance of Fiscal Year 2023 Audited Financial Statements

Mr. Nathan Phillips of the Phillips Harvey Group, P.A. provided a detailed summary of the audit report. He noted that there were no compliance concerns to report. He also noted that the Country Club has shown an increase in net worth and is doing well overall.

ON MOTION by Mr. Ludmerer, seconded by Mr. Criden, with all in favor, the Board accepted the Fiscal Year 2023 Audited Financial Statements.

Review and Consideration of Short-Term Financing RFP Results

Mr. Ludmerer introduced the item and provided an overview of the how the District's cash flow would not cover the financing of the irrigation project. He noted that the financing of the irrigation project is to be covered by the Series 2024 Bonds and the bond validation process is expected to be completed by June 2024. He further explained that if the bond validation process is not completed by that time, the funding of the irrigation project would need to be covered by another means. An RFP for a bond anticipation note (BAN) was approved by the Board during the March 22, 2024, meeting and Regions Capital Advantage Inc. responded with a proposal for a $5 million dollars for a term of two-years for the bond anticipation note (BAN).

Mr. Ludmerer provided further details on the financial obligations of the BAN and the planned timeline.

Mr. Wilder noted that the District's strong financial position allowed for the competitive proposal by Regions Capital Advantage Inc.

Mr. Ludmerer explained that if the District does not proceed with the BAN there would be minimal costs incurred for this application process.

ON MOTION by Mr. Ludmerer, seconded by Mr. Criden, with all in favor, the Board accepted the proposal dated April 1, 2024, submitted by Regions Capital Advantage Inc. for the purchase of a two-year bond anticipation note providing interim funding, subject to further detailed negotiations and approval, based on input from the District's General Manager, District Counsel, Bond Counsel and Financial Advisor.

Consideration of the Minutes of the February 27, 2024, Board of Supervisors'	Workshop Meeting and the Minutes of the March  22,  2024,  Board  of

Supervisors' Meeting

Rescheduled

The Board reviewed the minutes.

ON MOTION by Mr. Criden, seconded by Mr. Murphy, with all in favor, the Board approved the Minutes of the February 27, 2024, Board of Supervisors' Workshop Meeting and the Minutes of the March 22, 2024, Board of Supervisors' Rescheduled Meeting.

THIRD ORDER OF BUSINESS	Staff Report Matters

District Counsel - Mr. Barnebey provided advice about handling District matters and personal social media accounts, including the use of a disclaimer on personal accounts by the Board Members. He referenced a matter currently before the Supreme Court.

Mr. Barnebey also gave an update on the ORI and development amendments. He noted that a study was done by a consultant and an approach is being looked at.

District Manager - Ms. Carvalho reminded the Board that the May meeting has been rescheduled from May 10 to May 21, 2024, and the proposed FY 2025 budget will be discussed.

Mr. Barnebey asked that the June 4, 2024, Workshop meeting also be a Board meeting.

Mr. Ludmerer asked that a May 2024 Workshop Meeting be scheduled. The date will be determined.

Club Management (Management Discussion & Analysis Report) - Mr. Fetsick stated that they are approaching the end of the high season. He noted that this season has seen the highest ever numbers of members and events, live entertainment for the first time and many sold out events. He thanked the members and the staff.

Mr. Fetsick noted that Sydney Johnson has been hired as the new Director of Communications and will focus primarily on Business & Strategic Planning Communications.

He said that they continue the search for a new executive chef and Chef Roger continues to lead the culinary operations. It was a very successful Easter Weekend with over 900 members and guests served over three-day weekend.

Mr. Fetsick explained that the golf cart fleet lease expires this year. Mr. Nickerson and other team members tested options for the next fleet, and one was selected. The swap will happen during Fall.

The new windscreens have been installed on the tennis courts and more are being ordered for the pickleball courts.

The Country Club full membership is 446, unofficial non-resident waitlist is at 17, racquets membership is 112, social membership is 785. The selling of social non-resident membership has been temporarily discontinued. There are 141 grandfathered non-members and 221 grandfathered members. Of the 1,433 overall memberships, 306 are non-residents.

Mr. Fetsick gave a detailed overview of the Country Club's statement of operations up to February 29, 2024. Year to date actual for the five months is favorable to budget at $5.6 million food and beverage operations are unfavorable to budget, primarily due to kitchen labor costs, linens, and cost of goods sold. Mr. Fetsick noted he intends on implementing a quarterly benchmark report in comparison to its competition.

Golf operations are unfavorable to budget. Mr. Fetsick noted that there were 16 fewer member rounds and 796 fewer outside rounds in March compared to March 2023. There have been 3,765 fewer rounds year to date compared to the corresponding period in 2023. This is attributed to the impact of weather and an associated shift to more play by members than public.

Mr. Fetsick gave a brief overview of the ongoing irrigation project and noted that it is progressing well with little impact on play.
There was a short discussion about the recent storm and any damage to property. Mr. Fetsick provided an update on the reservation software.

FOURTH ORDER OF BUSINESS		Business Matters Consideration  of  Resolution
2024-14, Ratifying the Manatee County Election Results Related to the Charter Amendments

Mr. Barnebey noted that the final vote was 558 in favor and 116 opposed, representing an 82% yes vote.

ON MOTION by Mr. Criden, seconded by Mr. Ludmerer, with all in favor, the Board approved Resolution 2024-14, Ratifying the Manatee County Election Results Related to the Charter Amendments.

Public Hearing on the Adoption of Revision to the Bylaws, Rules &	Regulations,	and Establishment of Grievances Committee

Ms. Dickson opened the Public Hearing.

Mr. Ludmerer provided an overview of the documents and edits made.

Mr. Barnebey noted that for the benefit of the public, with the documents not having been provided for public view prior to the Public Hearing, no action will be taken by the Board and the Public Hearing will be continued to the next Board meeting on May 21, 2024.

There was discussion about the proposed edits.

A homeowner asked about meeting minutes not included in the preliminary agenda packet.

Ms. Carvalho explained that items are placed on the agenda 'under separate cover' while being finalized and the agenda is updated with the finalized documents.

There were no further comments by the public.

The edits will be further discussed during the upcoming Board Workshop Meeting.

ON MOTION by Mr. Criden, seconded by Mr. Murphy, with all in favor, the Board continued the Public Hearing to May 21, 2024, at 10:30 a.m. at The Business Offices
8301 The Park Boulevard, University Park, FL 34201.

Consideration of Resolution 2024-15, Adopting Revision to the Bylaws, Rules & Regulations, and Establishment of Grievances Committee

This item was deferred to the May 21, 2024, Board of Supervisors' Meeting.

Update on May Public Hearings
Membership Caps
Membership	Initiation Fees

Mr. Fetsick noted that the Public Hearings will occur during the May 21, 2024, Board of Supervisors' Meeting. He asked that a Board Workshop Meeting will be held in May to discuss the proposed membership caps and initiation fees prior to the Public Hearing.

Update on Mr. Pizzi's Claim

Mr. Barnebey noted that counsel for Mr. Pizzi has suggested trying to resolve the matter without going to litigation and provided a proposed settlement dollar amount.

There was discussion about Mr. Pizzi's participation and the proposed settlement through compensation. It was noted that the understanding of the Board was that Mr. Pizzi was acting in a volunteer role.

ON MOTION by Mr. Ludmerer, seconded by Mr. Criden, with all in favor, the Board decided to decline the monetary compensation offer request from Mr. Pizzi.

District Counsel will relay the message to Mr. Pizzi's attorney accordingly.

Consideration of Addendum to Turf Equipment Proposal

Mr. Fetsick noted that Mr. Nickerson has been speaking with the two financing providers that the Club works with, PNC and Huntington National Bank. PNC leases are used for equipment
, that is kept for more than four years, whereas Huntington lease are used for equipment that is turned over in less than four years.

He noted that District Counsel's office produced the addendum for each of the two lease terms that specify requirements of vendors related to the Recreation District.

ON MOTION by Mr. Ludmerer, seconded by Mr. Criden, with all in favor, the Board approved the addendum to the Turf Equipment Proposal.

FIFTH ORDER OF BUISNESS	District Financial Matters

Ratification	of	Payment Authorization Nos. 114 & 115

Mr. Fetsick reviewed the payment authorizations for the Board.

ON MOTION by Mr. Criden, seconded by Mr. Murphy, with all in favor, the Board ratified Payment Authorization Nos. 114 & 115.

Supervisor Comments

Requests	&

Ms. Dickson noted that April 30, 2024, at 2:00 p.m. will be the next Workshop Meeting. May 21, 2024, at 10:00 a.m. will be the Rescheduled Board Meeting and Public Hearings. The June 4, 2024, at 2:00 p.m. will be a Workshop Meeting and a Board Meeting. A date will be determined for a May Workshop Meeting prior to May 21, 2024. Mr. Jackson will send the email to the Board requesting their availability for an additional workshop meeting.

Mr. Criden noted that he and Mr. Fetsick have been working with Mr. Saumier on the RFQ for architectural services which will be published for responses to be submitted by May 15, 2024.

Comments to UPRD Board Mtg
4/12/2024
Good Afternoon:

My name is Dick Tuley. My wife, Connie, and I moved into University Park in December of 1995 and immediately became Full Members of the County Club. We lived in the park for 25 years until 2020 when a series of life changes caused us to leave the Park and we became Non-Resident Members.

With that short background, today I would like to offer comments on what I understand is a pending change that will cap the number of Non-Resident

Members. I believe there are some other options that might make that change un­ necessary or not optimal and I would like to encourage the Board to study at least one other idea, and I would like to quickly review this with you today.

As the membership here ages, there have become and will continue to become a number of Full Golf Members who would like to retain their membership but do not want to play enough golf to justify the cost. These members use the golf course less and perhaps the food & Beverage options more - a great combination. Why not offer a senior membership rewarding those older and longer members of the

club and offering a reduction in Dues to encourage our senior members to retain their full club membership. This can be modeled easily to come up with the right numbers but perhaps starting with the age and years a member equaling, say 100, for a 50% Dues reduction. Maybe the number is 105 but the analytics can . help make that determination. Putting a cap on the number of Senior Memberships allows for good planning and control.

What a wonderful way to maintain Full Golf Members who don't play much golf but probably eat and drink frequently and have supported this Club for a long time.

I know this sounds self-serving and it probably is, but I know of many members here that would support such a plan. And, many other clubs have done this with remarkable results. Black Diamond Ranch near Crystal River has such a program and they are one of the preeminent clubs on the west coast of Florida.

Please ask Management to give this some thought, model the program, study the analytics and use that result as an option when considering changes to the membership levels.

Thanks very much.

Mr. Murphy suggested that any materials related to agenda items should be provided at least two business days prior to the meeting date to allow for review.

SIXTH ORDER OF BUSINESS	Adjournment

There were no further comments at this time.

ON MOTION by Mr. Criden, seconded by Mr. Murphy, with all in favor, the April 12, 2024, Board of Supervisors' Meeting of University Park Recreation District was adjourned at 2:59 p.m.

Secretary I Assistant Secretary

8 IP age