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LSC Community Development District (CDD) 

Agendas & Minutes, Reports, Budgets, Expenditures & Bond

 

 

CDD Board Agendas
and Draft Meeting Minutes

Note:  Minutes are posted in draft form before they are approved by the LSC CDD board, these are for informational purposes, if the board makes any significant changes in the draft minutes, I will post the approved minutes.  All records of the CDD are open for public inspection.  The audio tape of CDD meetings is also a public record.

Agenda for July 6, 2006 CDD Meeting

May 16, 2006 Minutes Draft

Agenda May 2, 2006

Agenda April 18, 2006

Agenda April 11, 2006

Agenda April 4, 2006

March 21, 2006 Minutes Draft

March 11, 2006 Minutes Draft

[March 14, 2006  Not Yet Completed]

March 7, 2006

December 2004

October to November 2004

August 16 to September 27, 2004

Partial Minutes from 2002 and 2003

 

 

 
 

Budgets
The CDD's Fiscal Year is October 1 to September 30

Final Adopted Budget for
October 1, 2006 to September 30, 2007

An earlier proposed budget FY 2006/2007

FY2005/2006
FY2005/2006 (in more detail)

FY2004/2005

FY2003/2004         FY2002/2003      FY2001/2002        FY2000/2001   

Overview: The CDD budget collects $1,12o from the single family homes and $544 from the Villas, and about $40,000 from the commercial property.  The total budget is about $870,000.

 
 

Expenditures

November 2006 Treasurer's Report
November 2006 Budget to Actual Report
November 2006 Disbursement Authorizations

October 2006 Disbursement Authorizations
October 2006 Treasurer's Report

October 2006 Budget to Actual Report

Worksheet Provided by CDD District Manager showing the CDD FY 2005-2006 Actual Expenses, the FY 2006-2007 adopted budget and the FY 2006-2007 revised budget.

September 2006 Treasurer's Report
September 2006 Budget vs. Actual Report

August 2006 Treasurer's Report
August 2006 Budget vs. Actual Report

July 2006 Treasurer's Report

Payroll Projection for Parks & Recreation Staff

June 2006 Treasurer's Report

May 2006 Disbursements.  Total expenditures are about $33,000.

April 2006 Treasurer's Report
April 2006 Budget vs. Actual

March 2006 Budget vs. Actual

March 2006. Total expenditures are about $40,000, and the report lists all checks issued in March. 

I am going to request that these reports be prepared in a slightly different format to include a more understandable description of the vendors for Homeowners who might not know that a payment to "Pennington, Moore" (which is a correct description of the payee for accounting purposes) is for the CDD law firm, for instance.

The CDD board has been getting excellent and detailed reports.  The above report is in a format I revised to present the information in an extracted fashion without certain information that is best not posted on the Internet such as account numbers and some personal identification information both of which are not necessary to know that the CDD paid Brandon Lock, for example, (which has done a good job for the CDD) $945, or paid $917 to Home Depot, and $165 to Hire A Pony for the Spring Fling.

 

 
 

Audits

Audit For Year October 1, 2004 to September 30, 2005  

Statement of Auditing Standards 

 

 
 

Reports

Report From Gate Committee September 2005.

Why Don't We Have a Gate?  Because the cost would be prohibitive.

Investigation Project -- Gate Committee. One of the projects of the board in 2005 was to conduct an analysis of the process to make the roads and drainage system private so a gate could be constructed  at the entrance of LSC.  There has always been much talk by LSC residents about a gate, for example, the HOA Declaration states that a gate exists. Of course that is not true, but that statement and perhaps what homebuyers were told by the home-builder sales people has been cited by several people when they ask, "Why doesn't LSC have a gate?"

So, in 2005 the board appointed a gate committee that conducted its own analysis of the requirements, laws, and possible costs of at least some of the elements of making the roads and drainage private.  Their written submissions to the CDD board are linked below. 

Costs Prohibitive. The gate committee reported the costs of the vacation process to install a gate would be prohibitive.  For example, the cost of the just the title work which is just one element of the application to the county to vacate the roads would cost about $100,000.  For comparison, the CDD's FY2005/2006 budget for the all of the Sheriffs of Lake St. Charles off-duty program is $40,880.

During the CDD meeting at which the committee's report was submitted in the fall of 2005, the CDD was told that during the committee's investigation they made some general estimates of all initial costs of making the roads private and installing a gate and that they estimated the costs to be in excess of $500,000. -- That excludes on going personnel costs of the CDD staff and guards. 

Halt! Some distinctions will help, LSC's streets and drainage systems are public.  Under current law, public roads cannot be blocked with a gate.  Private roads can be blocked.  Most often when people mention a gate to me they refer to a physical gate across Lake St. Charles Blvd. that can legally prevent, either by itself or in connection with a security guard, the entry of unauthorized persons to LSC.  An alternative is a guard on the side of a public road (LSC Blvd.) asking people to voluntarily stop or watching as people drive in (which is beneficial), but the guard would not have the authority to prohibit anyone from entering LSC or to make them stop.

Report of Gate Committee showing a part of the costs  (PDF) 

Procedures of County to Vacate Public Roads in 2005 (PDF)

Not the End of the Story.  My own opinion is that the CDD board is not opposed to a gate and would begin planning for one if the board could come up with some plan that was feasible.  The board is always open to better ideas and welcomes any creative thinking and suggestions from LSC Homeowners!  So, begin thinking.  I have a couple of ideas that may be applicable down the road. And I hope the CDD is able to have some form of a security-guard system at a checkpoint (not an automated unmanned gate) in the future.

As you think about a gate, here's a list of things to mull over:

1. Public or private roads?
2. If private, what is your view on whether 75% - 80% of the LSC residents would consent to vacating the public road in front of their home?  

3. Cost of vacation process if roads are to be private?
4. Amount of special assessments to pay for maintenance of private roads and drainage system?
5. Need for additional right of way?
6. Engineering and construction costs?

7. If only an automated gate, what is the estimate of additional CDD personnel costs associated with the gate's operation and administering the access codes or access cards and dealing with situations when the gate won't open and people can't get in but would like to get in at 10:00 pm at night?

8. Guard or no guard?
9. If a guard, what is the schedule, 24 hours a day or just a portion of the day?
10. Consider total annual personnel costs for guards.

11. Compare the above costs with the costs of other security alternatives such as increased off-duty sheriffs or/and security cameras, lighting, and/or fencing for Kensington and other access areas.  For example, if a 24-hour guard would cost "X" annually, what type of a security camera system could the CDD buy for just one year of that "X" cost?  In my opinion, that same amount of money would allow the CDD to buy a security camera system that would be in the running for an Oscar for best cinematography.

12. Factor in the percentage of crimes that are committed by people who do not drive into LSC on Lake St. Charles Blvd.  My rough estimate is that a substantial percentage of crimes are from people who do NOT drive into LSC.  Thus, a gate may be a great idea for many reasons and may stop a substantial percentage of the crimes, but a gate will not prevent access by 100% of the bad guys. There will still be a substantial problem with others who walk or ride in from adjoining properties. 

13. The effect of private roads on the bond's tax exempt status.

I believe the board may revisit the gate issue as additional or changed information is discovered, but as of 2005, after an investigation by some dedicated LSC residents, the board decided that now is not the time to pursue gating the entrance of LSC.

 

 
 

Bond Refunding 2005

The bond refinance developed by Raymond James for Lake St. Charles and closed in February 2005:

1. Did not extend the existing term - bonds still paid off in 2017, same year as previous bonds;

2. Did not increase the amount borrowed.  Principal amount of bond debt decreased;

3. Did not cost more to issue than previous refunding proposal --  issuance costs were less than the previously proposed refunding; and

4. Decreased CDD's bond payments about $60,000 annually.

Official Statement (PDF).  This gives an overview of all CDD financing and development.