MINUTES OF MEETING
UNIVERSITY PARK RECREATION DISTRICT BOARD OF SUPERVISORS’ CONTINUED MEETING
Tuesday, September 2, 2025
2:00 p.m.
Business Offices
8301 The Park Boulevard, University Park, FL 34201
Board Members present in person or via phone: Sally Dickson	Chairperson
Rusty Piersons	2nd Vice Chairperson
David Murphy	Treasurer
Scott Huebner	Assistant Secretary Also, Present in person or via phone:
Vivian Carvalho	District Manager - PFM Group Consulting LLC
Blake Firth	 ADM - PFM Group Consulting LLC	(via phone) John Fetsick	General Manager - Country Club
Curtis Nickerson Director of Properties & Facilities– Country Club Mark Barnebey	District Counsel - Blalock Walters
Various Audience Members in-person and via Zoom

FIRST ORDER OF BUSINESS	Organizational Matters

Call to Order, Roll Call, and Pledge of Allegiance

The continued meeting was reconvened at 2:01 p.m. by Ms. Dickson. Those in attendance are outlined above.

The Pledge of Allegiance was recited.

Public Comments

Mr. Underwood, a resident, commended the Board for having a joint meeting with the UPRD and UCPCAI. Ms. Dickson noted this will continue in the future.

Mr. Tobin, a resident, thanked the Board for their work and commented on the Series 2024 Note Resolution and subsequent assessments.

Mr. Matt commented on the assessments and funding of projects. He also commented on the

withdrawal of the appeal.

Another resident had a comment regarding Mr. Matt’s comments. There were no further public comments.

SECOND ORDER OF BUSINESS	Staff Report Matters

District Counsel – Mr. Barnebey noted the Board has the ability to do the assessments and all Charter requirements have been met. He also noted that he is going to request the attorney/client session to discuss the litigation, which will be a shade meeting.
There was brief discussion regarding scheduling the session and those that need to be in attendance.

The Board agreed on September 16 or 17 in the afternoon.
Ms. Carvalho will confirm with Mr. Heitzner and proceed with the legal advertisement based on responses to Board Member availability.

District Manager – No report.

Club Management – Management Discussion & Analysis Report
Mr. Fetsick gave an overview of the report and an update on the current projects. He noted the dining room is closed this week as the café roof is being painted, the kitchen and dining room are being deep cleaned, and the admin offices are having a small remodel. Food trucks will be available 12 - 4pm, along with the Varsity Club.

THIRD ORDER OF BUSINESS	Business Matters

Series 2024 Note / Consideration of Assessment
Consideration of Resolution	2025-21, Rescinding Resolution 2025-16 and Reinstating, Ratifying and Reaffirming Resolution  2024-25  as
Adopted on June 27, 2024; and Providing for an Effective Date

Ms. Dickson gave an overview of the previous discussion during the August 12, 2025, meeting. She noted the two options were to extend the Note with Regions Bank for one year or to have the assessment at the end of the year. She also gave an overview of the resolution.

The Board discussed their opinions on the resolution.

Ms. Dickson noted she was in favor of the extension and not assessments.

Mr. Piersons also noted he was in favor with the extension and not assessments. He noted there should be a meeting with the residents and members regarding the Note, bond, and assessments.

There was brief discussion regarding the previous vote for the resolution.

Mr. Murphy noted he previously was in favor of the extension but is now in favor of the assessments. He gave an overview of his reasoning, and noted it is based on the timing. He also gave an overview of the early payment discount on the Note compared to directly assessing residents.
It was noted it would be $4 million dollars to pay off the Note.

Mr. Huebner noted he was in favor of the extension and gave an oral statement to the Board. He also submitted 10 points for an alternative path forward for the record.
There was discussion regarding the financials as related to the bond and assessments.

ON MOTION by Mr. Murphy, second by Mr. Piersons, with Mr. Murphy in favor, and all others opposed, the Board of Supervisors for the University Park Recreation District did not approve the Series 2024 Note Assessment, Resolution 2025-01, Rescinding Resolution 2025-16 and Reinstating, Ratifying, and Reaffirming Resolution 2024-25 as Adopted on June 27, 2024, and Providing for an Effective Date. Motion did not pass.

Mr. Fetsick gave an overview of the reserves and noted they will need to be replenished in some way. Currently, the only items replenishing the reserves are initiation fees, capital dues, and 10% of outside golf, which are not enough to complete capital projects.

There was brief discussion regarding revenues and the reserves.

Mr. Piersons recommended having the Finance Committee look at the future of the reserves.

Public Hearing on the Adoption of the District’s Annual Budget & Country Club Budget
Public Comments and Testimony
Board Comments
Consideration of Resolution	2025-17, Adopting the Fiscal Year

2025/2026 District’s Annual Budget and Appropriating Funds
General Fund Budget
Debt Service Budget
Consideration of Resolution	2025-18, Adopting the Fiscal Year 2025/2026 Country Club Budget and Appropriating Funds
Enterprise	Fund Budge

ON MOTION by Mr. Piersons, second by Mr. Murphy, with all in favor, the Board of Supervisors for the University Park Recreation District opened the Public Hearing on the Adoption of the District’s Annual Budget and Country Club Budget.

Ms. Carvalho reviewed the budget exhibits and noted the budget currently includes the Capital Irrigation Project, which will be removed.

Mr. Case, a resident, made a comment regarding the budget for the Capital Irrigation Project assessments.
Mr. Matt recommended having an organizational chart related to the budget.

Mr. Huebner commented on the continued capitalization of interest related to the bond.

There was discussion regarding the district paying the interest instead of assessing it to the homeowner.
Mr. Murphy gave an overview of the timeline regarding the assessments and recommended leaving the interest in the bank and letting it capitalize for emergency purposes.
Mr. Huebner questioned if the decision could be made at a later date to pay the interest out of operating income.
There was continued discussion regarding this. Ms. Carvalho will follow up to see if this could be a future option.

Mr. Fetsick gave an overview of the Enterprise Fund Budget for the Country Club. He reviewed the changes and increases.

The Board discussed the FY 2026 Proposed General Fund Budget, the revenues, and the expenses from the Country Club, including the restaurant. It was noted the Board should look at a breakdown in revenues and expenses for each section of the Club, including the restaurant, fitness, tennis, etc.
Mr. Murphy recommended having the Finance Committee take on that project.

ON MOTION by Mr. Murphy, second by Mr. Piersons, with all in favor, the Board of Supervisors for the University Park Recreation District closed the Public Hearing on the Adoption of the District’s Annual Budget and Country Club Budget.

Ms. Carvalho reviewed the budget and noted the General Fund budget will be $300,000.00 and the Debt Service Budget will be $1,601,193.75.

ON MOTION by Mr. Murphy, second by Mr. Piersons, with all in favor, the Board of Supervisors for the University Park Recreation District approved Resolution 2025-17, Adopting the Fiscal Year 2025/2026 District’s Annual Budget and Appropriating Funds, as amended.

Ms. Carvalho noted the Enterprise Fund Budget will be $13,850,896.00.

There was brief discussion regarding the distinction between the different budgets.

Mr. Murphy noted the municipal bond interest rates are the lowest, which also saves money for the District.

ON MOTION by Mr. Murphy, second by Mr. Piersons, with all in favor, the Board of Supervisors for the University Park Recreation District approved Resolution 2025-18, Adopting the Fiscal Year 2025/2026 Country Club Budget and Appropriating Funds, as amended.

Supervisor	Requests	&	Public Comments

The upcoming workshops and meetings were noted.

Date	Meeting Type	Time	Location	Note

September 12, 2025	Board Meeting

1:00 PM	University Park	Business Offices

September 30, 2025	Workshop Meeting	2:00 PM	University Park	Business Offices

Mr. Tobin, a resident, had a comment about Mr. Matt and questioned his objective. He recommended Mr. Matt to withdraw the appeal.

Mr. Underwood, a resident, noted he does not agree with delaying the Note and noted the debt will have to be repaid, regardless of the bond.

Mr. Case, a resident, had a question regarding food and beverage revenue loss and having a minimum that must be met by each guest.

Mr. Fetsick noted that although he has recommended removing this requirement in the past, if it were removed, the dues would increase. He gave an overview of revenue minimum requirements.

There was brief discussion regarding the food minimum requirements.

Mr. Matt commented on Mr. Tobin's comments and noted what he feels the Board is required to do, including being fiduciary responsible, respecting the residents, and holding to the core values of the Charter.

Ms. Loundy, a resident, commented regarding the ruling from the Supreme Court.

M_r. Barneby noted the matter has been expedited, but there is no way to know when the ruling will take place.

There were no further Supervisor requests or public comments.

FOURTH ORDER OF BUSINESS	Adjournment
There was no further business to discuss.

ON MOTl�N by Mr. Murphy, second by Mr. Piersons, with all in favor, the September 2 2025, �ont1nued Board of Supervisors Meeting for the University Park Recreation Distri�t was adJourned at 3:33 p.m.

Secretary / Assistant Secretary

6IP a g e

Oral Statement
I oppose Resolution 2025-21, which would rescind our unanimous July 22nd decision to extend the BAN for one year. That decision was made so we could wait for the Florida Supreme Court's ruling and responsibly explore deferred payment options, which homeowners clearly supported.
This new resolution is premature. It forces homeowners to pay $5.4 million for a $4 million debt, effectively double charging capital funds, while leaving out the promised $6 million irrigation bond reduction. It also shifts costs for irrigation -	which benefits everyone, including members and outside players -	entirely onto homeowners.
Rushing into this decision undermines our :fiduciary duty, creates unnecessary :financial hardship, and erodes trust in this board. The prudent course is to honor our July resolution, extend the BAN for one year, and use that time to explore affordable alternatives.

For these reasons, I urge the board to reject Resolution 2025-21."*

Written Objection to Resolution 2025-ll(To Rescind Resolution 2025-16, Extending the BAN)

Why I Oppose Resolution 2025-21- Submitted for the Record - September 2, 2025

Unanimous Prior Decision - On July 22, the Board of Supervisors unanimously approved Resolution 2025-16 to extend the BAN for one year. Reversing course so quickly undennines stability and credibility.

Homeowner Direction - Homeowners voted for a deferred payment plan. The Board has a fiduciary duty to honor this directive by pursuing deferred payment options first.

Premature Action - Rushing ahead without waiting for the Florida Supreme Court's ruling risks unintended consequences that could burden residents unnecessarily.

Time for Diligence - The one-year extension provides time to hear from the Court, explore alternatives, and make fact-based, responsible decisions.

Lack of Process - This motion has not been fully vetted, nor have homeowners had adequate time to review or provide feedback.

Excessive Costs - This resolution assesses homeowners $5.4 million for a $4 million debt, effectively
double-charging them for capital dues.

Unkept Promises -The resolution omits the promised $6 million bond reduction for irrigation and fails to remove irrigation from Phase 2 of the Capital Improvement Program.

Unfair Burden - The $6 million irrigation project benefits all users -	homeowners, members, and
outside players -yet the resolution places the full cost on homeowners.

Unequal Assessments - County comparisons show inequity: BAN $376K vs. 2024 Bond $107K. This discrepancy deserves careful review before action.

Equity Debate-There remains no clear, agreed-upon principle on whether costs should be shared equally by household or based on property value. Until this is resolved, new assessments are premature.

Alternative Path Forward

Uphold the July resolution and extend the BAN one year.

Have UPCC pay the interest on the BAN while alternatives are evaluated.

Amend the Charter to allow UPCCRD to borrow over longer tim.eframes.

Keep the option to roll the BAN into an affordable loan payable from operations.

Phase projects one at a time, with explicit homeowner approval on both scope and funding before construction begins.

Conclusion; Resolution 2025-21 is premature, unfair, and fmancially risky. The prudent and responsible course is to uphold Resolution 2025-16, extend the BAN, and use the time wisely to seek fair, affordable, and transparent alternatives.  Respectfully submitted, Scott Huebner, UPCCRD- Supervisor

A Thoughtful Path Forward: Improvements for UPCC
Protecting Value, Reducing Cost, Preserving Natural Beauty

Objective- A cost-effective, minimally disruptive and environmentally friendly plan, that
Maximizes existing buildings & Minimizes construction costs.

4 Recommendations
Golf Operation: Relocate and consolidate to optimize Function and Efficiency

Relocate bag drop & staging area- for player convenience, ease of access and better course management.
Expand the cart barn- to store all carts, club storage, and golf pro shop.

Kitchen & Dining: relocate for better service, plus increased capacity and revenue

Build a new kitchen behind the old to maintain service and retain staff.
Repurpose the old kitchen space to increase dining capacity + 100-150 guests.
New multi-use space- adds 3,000 sq ft for both members and outside events.

Fitness Center: increase space and minimize expense.

Reorient the entrance to Expand studio + 300 sq ft, increases capacity to 14 students.
Remove Wet Bar and increase usable fitness space +200 sq ft.
Optimize the building footprint (push out walls) + 1,175 sq ft

Member Space: Repurpose existing spaces for multiple uses and save money.

Convert the old Lake-side Golf Shop, + 1,600 sq ft
Repurpose the old kitchen, + 3,000 sq ft
Repurposing the back of the Varsity Club, + 3,100 sq ft

Let’s improve smartly, sustainably and together!