Brightshore Community Development District

3501 Quadrangle Boulevard, Suite 270, Orlando, FL 32817, 407-723-5900, FAX 407-723-5901

www.brightshorecdd.com

The meeting of the Board of Supervisors of the Brightshore Community Development District will be held Monday, August 10, 2026, at 2:00 p.m. at Barron Collier Companies offices, 2600 Golden Gate Parkway, Naples, Florida 34105. The agenda is as follows:

BOARD OF SUPERVISORS’ MEETING AGENDA

1.

Call to Order & Roll Call

2.

Public Comment Period

3.

General District Items

A. Proof of Publication

Exhibit 1

4.

Organizational Matters

A. Board of Supervisors July 13, 2026, Meeting Minutes

Exhibit 2

5.

Administrative Matters

A. None to be considered at this time

6.

Budgetary Matters

A.

Public Hearing on the Adoption of the District’s Annual Budget

Exhibit 3





Public Comments and Testimony Board Comments
Consideration of Resolution 2026-07, Adopting the Fiscal Year 2027 Budget
Consideration of Resolution 2026-09, Levying Debt Assessment and Certifying an Assessment Roll



B.

Consideration of O&M Methodology Pro Rata Share Builders Contribution
Consideration of Landowner Cost Share Agreement Consideration of Fiscal Year 2027 Builders Funding Agreement:

Exhibit 4

C.
D.

Exhibit 5
Exhibit 6






Taylor Morrison Christopher Alan Homes Tolls Brothers
Pulte Homes

7. Construction Matters

Consideration of Temporary Construction Easement Agreement to HOA with Guardhouse Construction
Consideration of Amendment to Construction Contract for Utility & Drainage Project with Jensen Underground Utilities
Consideration of Amendment to Construction Contract with South Florida Excavation for Earthwork and Paving
Consideration of Notice of Commencement with Jensen Underground Utilities
Discussion Pertaining to Process And Reimbursement For Utility Impact Fees

Exhibit 7

Exhibit 8

Exhibit 9

Exhibit 10

Exhibit 11

8. Financing Matters

A. Consideration of Resolution 2026-08, Establishing Checking Account and Signers
B. Ratification of Requisitions 8 & 9
C. Review and Acceptance of June Monthly Financials
Other Business
A. Staff Reports:

Exhibit 12
Exhibit 13
Exhibit 14





District Manager
District Legal Counsel
District Engineer

9. Board Members’ Comments/ Requests

10. Public Comments

11. Adjournment

Brightshore Community Development District

General District Items

Proof of Publication

Brightshore Community Development District

Organizational Matters

Board of Supervisors July 13, 2026, Meeting Minutes (provided under separate cover)

Brightshore Community Development District

Budgetary Matters

Public Hearing on the Adoption of the District’s Annual Budget
Public Comments and Testimony Board Comments
Consideration of Resolution 2026-07, Adopting the Fiscal Year 2027 Budget
Consideration of Resolution 2026-09, Levying Debt Assessment and Certifying an Assessment Roll







RESOLUTION 2026-07
[FY 2027 APPROPRIATION RESOLUTION]

THE ANNUAL APPROPRIATION RESOLUTION OF THE BRIGHTSHORE COMMUNITY
DEVELOPMENT DISTRICT (“DISTRICT”) RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGET(S) FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2026, AND ENDING SEPTEMBER 30, 2027; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, for the fiscal year beginning October 1, 2026, and ending September 30, 2027 (“FY
2027”), the District Manager prepared and submitted to the Board of Supervisors (“Board”) of the Brightshore Community Development District (“District”) prior to June 15, 2026, proposed budget(s) (“Proposed Budget”) along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Section 190.008(2)(a), Florida Statutes; and

WHEREAS, at least sixty (60) days prior to the adoption of the Proposed Budget, the District filed
a copy of the Proposed Budget with the local general-purpose government(s) having jurisdiction over the area included in the District pursuant to the provisions of Section 190.008(2)(b), Florida Statutes; and

WHEREAS, the Board set a public hearing on the Proposed Budget and caused notice of such
public hearing to be given by publication pursuant to Section 190.008(2)(a), Florida Statutes; and

WHEREAS, the District Manager posted the Proposed Budget on the District’s website in
accordance with Section 189.016, Florida Statutes; and

WHEREAS, Section 190.008(2)(a), Florida Statutes, requires that, prior to October 1st of each year, the Board, by passage of the Annual Appropriation Resolution, shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year.

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

SECTION 1.

BUDGET

a.

The Proposed Budget, attached hereto as Exhibit A, as amended by the Board, is hereby
adopted in accordance with the provisions of Section 190.008(2)(a), Florida Statutes (“Adopted Budget”), and incorporated herein by reference; provided, however, that the comparative figures contained in the Adopted Budget may be subsequently revised as deemed necessary by the District Manager to reflect actual revenues and expenditures.

b.

The Adopted Budget, as amended, shall be maintained in the office of the District
Manager and at the District’s Local Records Office and identified as “The Budget for the Brightshore Community Development District for the Fiscal Year Ending September 30, 2027.”

4896-5524-8284.1

c.

The Adopted Budget shall be posted by the District Manager on the District’s official
website in accordance with Section 189.016, Florida Statutes and shall remain on the website for at least two (2) years.

SECTION 2.

APPROPRIATIONS

There is hereby appropriated out of the revenues of the District, for FY 2027, the sum(s) set forth
in Exhibit A to be raised by the levy of assessments and/or otherwise, which sum is deemed by the Board to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated as set forth in Exhibit A.

SECTION 3.

BUDGET AMENDMENTS

Pursuant to Section 189.016, Florida Statutes, the District at any time within FY 2027 or within 60
days following the end of the FY 2027 may amend its Adopted Budget for that fiscal year as follows:

a.

A line-item appropriation for expenditures within a fund may be decreased or increased
by motion of the Board recorded in the minutes, and approving the expenditure, if the total appropriations of the fund do not increase.

b.

The District Manager or Treasurer may approve an expenditure that would increase or
decrease a line-item appropriation for expenditures within a fund if the total appropriations of the fund do not increase and if either (i) the aggregate change in the original appropriation item does not exceed the greater of $15,000 or 15% of the original appropriation, or (ii) such expenditure is authorized by separate disbursement or spending resolution.

c.

Any other budget amendments shall be adopted by resolution and consistent with Florida
law. The District Manager or Treasurer must ensure that any amendments to the budget under this paragraph c. are posted on the District’s website in accordance with Section 189.016, Florida Statutes, and remain on the website for at least two (2) years.

SECTION 4.

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

PASSED AND ADOPTED THIS 10th DAY OF AUGUST, 2026.

ATTEST:

BRIGHTSHORE COMMUNITY DEVELOPMENT
DISTRICT

Secretary / Assistant Secretary

Chair/Vice Chair, Board of Supervisors

Exhibit A:

FY 2027 Budget

4896-5524-8284.1

Brightshore CDD
FY 2027 Proposed Budget Package

PFM Management Services LLC
3501 Quadrangle Boulevard
Suite 270
Orlando, FL 32817-8329
(407) 723-5900

Brightshore CDD
FY 2027 Proposed O&M Budget

Actual to 06/30/2026

Anticipated Jul 2026
to Sept 2026

Anticipated FY 2026 Total

FY 2026 Adopted Budget

FY 2027 Proposed Budget

Revenues
Developers Contributions
Net Revenues

$

151,475.00

$

-

$

151,475.00

$

151,475.00

$

354,700.00

$

151,475.00

$

-

$

151,475.00

$

151,475.00

$

354,700.00

General & Administrative Expenses Public Officials' Liability Insurance Trustee Services
Management
Engineering Disclosure
Property Appraiser Fee District Counsel Assessment Administration
Professional Services Accounting Reamortization Schedule
Audit
Arbitrage Calculation Tax Preparation Travel and Per Diem Postage & Shipping Legal Advertising Miscellaneous
Office Supplies
Web Site Maintenance Dues, Licenses, and Fees General Insurance
Total General & Administrative Expenses

3,032.00
- 33,250.00
10,580.00
-
- 14,209.80
1,000.00
4,635.00
-
-
-
-
-
- 1,384.69
232.06
- 1,800.00
175.00
2,480.00

-
- 12,000.00
3,526.67
-
- 4,736.60
17,500.00
230.00
- 7,000.00
-
-
-
- 461.56
-
-
-
-
-

3,032.00
- 45,250.00
14,106.67
-
- 18,946.40
18,500.00
4,865.00
- 7,000.00
-
-
-
- 1,846.25
232.06
- 1,800.00
175.00
2,480.00

3,500.00
- 42,000.00
20,000.00
-
- 40,000.00
18,500.00
6,000.00
- 7,000.00
-
-
-
- 7,500.00
500.00
- 3,000.00
175.00
3,300.00

3,650.00
5,000.00
48,000.00
20,000.00
2,500.00
- 40,000.00
18,500.00
- 250.00
7,000.00
500.00
25.00
1,500.00
100.00
500.00
500.00
500.00
3,000.00
175.00
3,000.00

$

72,778.55

$

45,454.83

$

118,233.38

$

151,475.00

$

154,700.00

Field Operations Expenses
Field Operations Management Staff Landscaping & Field Maintenance Landscape Replacement Landscape Mulching
Irrigation Repairs Electricity
Water Use Monitoring
Entry Monuments Maintenance Wetland Monitoring
SFWMD ERP Annual Report Lake Testing
Lake Maintenance
Offsite Mitigation Maintenance
Total Field Operations Expenses

$

-
-
-
-
-
-
-
-
-
-
-
-
-

$

-
-
-
-
-
-
-
-
-
-
-
-
-

$

-
-
-
-
-
-
-
-
-
-
-
-
-

$

-
-
-
-
-
-
-
-
-
-
-
-
-

$

- 160,000.00
-
-
-
-
-
-
-
-
- 40,000.00
-

$

-

$

-

$

-

$

-

$

200,000.00

Total Expenses

$

72,778.55

$

45,454.83

$

118,233.38

$

151,475.00

$

354,700.00

Income (Loss) from Operations

$

78,696.45

$

(45,454.83)

$

33,241.62

$

-

$

-

Other Income (Expense)
Interest Income
Total Other Income (Expense)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Net Income (Loss)

$

78,696.45

$

(45,454.83)

$

33,241.62

$

-

$

-

Page 1 of 5

BRIGHTSHORE CDD FY 2027

Budget Item Description

Revenues:

Developer Contribution

Funding from the Developer.

General & Administrative Expenses:

Public Officials’ Liability Insurance

Supervisors’ and Officers’ liability insurance.

Additional Insurance

Other insurance required for the District.

Trustee Services

The Trustee submits invoices annually for services rendered on bond series. These fees are for maintaining the District trust accounts.

Management

The District receives Management and Administrative services as part of a Management Agreement with PFM Management Services 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.

Disclosure

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

Property Appraiser Fee

Cost incurred for a copy of the annual parcel listing for parcels within the District from the county.

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.

Page 2 of 5

BRIGHTSHORE CDD FY 2027

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.

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.

Arbitrage Calculation

Annual computations are necessary to calculate arbitrage rebate liability to ensure the District's compliance with all tax regulations.

Tax Preparation

Annual 1099 processing is required to be electronically filed. These are the fee association with the electronic filing

Travel & Per Diem

Travel to and from meetings as related to the District.

Postage & Shipping

Mail, overnight deliveries, correspondence, etc.

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.

Miscellaneous

One-off and random expenses allocated to the District, not otherwise booked to adopted budgeted line items.

Office Supplies

General office supplies associated with the District.

Page 3 of 5

BRIGHTSHORE CDD FY 2027

Web Site Maintenance

Web site maintenance fee.

Dues, Licenses & Fees

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

General Insurance

General liability insurance.

Property & Casualty

Insurance to protect property and cover casualty.

Field Operations Expenses:

Landscaping and Field Maintenance

Contracted landscaping within the boundaries of the District.

Lake Maintenance

Maintenance of lake/s owned by the District.

Page 4 of 5

Brightshore CDD
FY 2027 Proposed Debt Service Budget

Series 2026
FY 2027
Proposed DS Budget

REVENUES:

Revenue

$	2,754,585.00

TOTAL REVENUES

 $	2,754,585.00 

EXPENDITURES:

Interest 11/1/2026 Interest 5/1/2027 Principal 5/1/2027

$

918,195.00
918,195.00
-

TOTAL EXPENDITURES

 $	1,836,390.00 

EXCESS REVENUES (Interest 11/1/2027)

 $	918,195.00 

Page 5 of 5

RESOLUTION 2026-09
[FY 2027 ASSESSMENT RESOLUTION]

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE BRIGHTSHORE COMMUNITY
DEVELOPMENT DISTRICT PROVIDING FOR FUNDING FOR THE FY 2027 ADOPTED BUDGET(S); PROVIDING FOR THE COLLECTION AND ENFORCEMENT OF SPECIAL ASSESSMENTS, INCLUDING BUT NOT LIMITED TO PENALTIES AND INTEREST THEREON; CERTIFYING AN ASSESSMENT ROLL; PROVIDING FOR AMENDMENTS TO THE ASSESSMENT ROLL; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Brightshore Community Development District (“District”) is a local unit of special-
purpose government established pursuant to Chapter 190, Florida Statutes, for the purpose of providing, operating and maintaining infrastructure improvements, facilities and services to the lands within the District, located in Collier County, Florida (“County”); and

WHEREAS, the District has constructed or acquired various infrastructure improvements and
provides certain services in accordance with the District’s adopted capital improvement plan and Chapter 190, Florida Statutes; and

WHEREAS, for the fiscal year beginning October 1, 2026, and ending September 30, 2027 (“FY
2027”), the Board of Supervisors (“Board”) of the District has determined to undertake various operations and maintenance and other activities described in the District’s budget (“Adopted Budget”), attached hereto as Exhibit A; and

WHEREAS, pursuant to Chapter 190, Florida Statutes, the District may fund the Adopted Budget
through the levy and imposition of special assessments on benefitted lands within the District and, regardless of the imposition method utilized by the District, under Florida law the District may collect such assessments by direct bill, tax roll, or in accordance with other collection measures provided by law; and

WHEREAS, in order to fund the District’s Adopted Budget, the District’s Board now desires to
adopt this Resolution setting forth the means by which the District intends to fund its Adopted Budget.

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

1.  FUNDING. The District’s Board hereby authorizes the funding mechanisms for the
Adopted Budget as provided further herein and as indicated in the Adopted Budget attached hereto as Exhibit A and the assessment roll attached hereto as Exhibit B (“Assessment Roll”).

2.  DEBT SERVICE SPECIAL ASSESSMENTS. The District’s Board hereby certifies for collection
the FY 2027 installment of the District’s previously levied debt service special assessments (“Debt Assessments” or “Assessments”) in accordance with this Resolution and as further set forth in Exhibit A and Exhibit B, and hereby directs District staff to affect the collection of the same.

1

3.

COLLECTION AND ENFORCEMENT; PENALTIES; INTEREST. Pursuant to Chapter 190,
Florida Statutes, the District is authorized to collect and enforce the Assessments as set forth below.

a.

Tax Roll Assessments. To the extent indicated in Exhibit A and Exhibit B, those
certain Debt Assessments (if any) imposed on the “Tax Roll Property” identified in Exhibit B shall be collected by the County Tax Collector at the same time and in the same manner as County property taxes in accordance with Chapter 197, Florida Statutes (“Uniform Method”). That portion of the Assessment Roll which includes the Tax Roll Property is hereby certified to the County Tax Collector and shall be collected by the County Tax Collector in the same manner and time as County property taxes. The District’s Board finds and determines that such collection method is an efficient method of collection for the Tax Roll Property.

b.

Direct Bill Assessments. To the extent indicated in Exhibit A and Exhibit B, those
certain Debt Assessments (if any) imposed on “Direct Collect Property” identified in Exhibit B shall be collected directly by the District in accordance with Florida law, as set forth in Exhibit A and Exhibit B. The District’s Board finds and determines that such collection method is an efficient method of collection for the Direct Collect Property.

i.

Due Date (Debt Assessments). Debt Assessments directly collected by the
District shall be due and payable in full on December 1, 2026; provided, however, that, to the extent permitted by law, the Debt Assessments due may be paid in several partial, deferred payments and according to the following schedule: 50% due no later than October 15, 2026, and 50% due no later than April 15, 2027.

ii.

In the event that an Assessment payment is not made in accordance with
the schedule(s) stated above, the whole of such Assessment, including any remaining partial, deferred payments for the Fiscal Year: shall immediately become due and payable; shall accrue interest, penalties in the amount of one percent (1%) per month, and all costs of collection and enforcement; and shall either be enforced pursuant to a foreclosure action, or, at the District’s sole discretion, collected pursuant to the Uniform Method on a future tax bill, which amount may include penalties, interest, and costs of collection and enforcement. Any prejudgment interest on delinquent Assessments shall accrue at the rate of any bonds secured by the Assessments, or at the statutory prejudgment interest rate, as applicable. In the event an Assessment subject to direct collection by the District shall be delinquent, the District Manager and District Counsel, without further authorization by the Board, may initiate foreclosure proceedings pursuant to Chapter 170, Florida Statutes, or other applicable law to collect and enforce the whole Assessment, as set forth herein.

c.

Future Collection Methods. The District’s decision to collect Assessments by any
particular method – e.g., on the tax roll or by direct bill – does not mean that such

2

method will be used to collect special assessments in future years, and the District
reserves the right in its sole discretion to select collection methods in any given year, regardless of past practices.

4.

ASSESSMENT ROLL; AMENDMENTS. The Assessment Roll, attached hereto as Exhibit B,

is hereby certified for collection. The Assessment Roll shall be collected pursuant to the collection
methods provided above. The proceeds therefrom shall be paid to the District. The District Manager shall keep apprised of all updates made to the County property roll by the Property Appraiser after the date of this Resolution and shall amend the Assessment Roll in accordance with any such updates, for such time as authorized by Florida law, to the County property roll.

5.

APPROVAL OF PRIOR ACTIONS. The actions of the Chairman, Vice Chairman, Secretary,

Treasurer, Assistant Secretaries, and all District Staff in finalizing the Assessments and Assessment Roll as
provided herein are hereby ratified, approved, and confirmed in all respects.

6.

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

PASSED AND ADOPTED this 	 day of 	, 2026.

ATTEST:

BRIGHTSHORE COMMUNITY DEVELOPMENT
DISTRICT

By:	

Secretary / Assistant Secretary

Its:	

Exhibit A:
Exhibit B:

Budget
Assessment Roll

3

Exhibit A

Budget

Brightshore CDD
FY 2027 Proposed O&M Budget

Actual to 06/30/2026

Anticipated Jul 2026
to Sept 2026

Anticipated FY 2026 Total

FY 2026 Adopted Budget

FY 2027 Proposed Budget

Revenues
Developers Contributions
Net Revenues

$

151,475.00

$

-

$

151,475.00

$

151,475.00

$

354,700.00

$

151,475.00

$

-

$

151,475.00

$

151,475.00

$

354,700.00

General & Administrative Expenses Public Officials' Liability Insurance Trustee Services
Management
Engineering Disclosure
Property Appraiser Fee District Counsel Assessment Administration
Professional Services Accounting Reamortization Schedule
Audit
Arbitrage Calculation Tax Preparation Travel and Per Diem Postage & Shipping Legal Advertising Miscellaneous
Office Supplies
Web Site Maintenance Dues, Licenses, and Fees General Insurance
Total General & Administrative Expenses

3,032.00
- 33,250.00
10,580.00
-
- 14,209.80
1,000.00
4,635.00
-
-
-
-
-
- 1,384.69
232.06
- 1,800.00
175.00
2,480.00

-
- 12,000.00
3,526.67
-
- 4,736.60
17,500.00
230.00
- 7,000.00
-
-
-
- 461.56
-
-
-
-
-

3,032.00
- 45,250.00
14,106.67
-
- 18,946.40
18,500.00
4,865.00
- 7,000.00
-
-
-
- 1,846.25
232.06
- 1,800.00
175.00
2,480.00

3,500.00
- 42,000.00
20,000.00
-
- 40,000.00
18,500.00
6,000.00
- 7,000.00
-
-
-
- 7,500.00
500.00
- 3,000.00
175.00
3,300.00

3,650.00
5,000.00
48,000.00
20,000.00
2,500.00
- 40,000.00
18,500.00
- 250.00
7,000.00
500.00
25.00
1,500.00
100.00
500.00
500.00
500.00
3,000.00
175.00
3,000.00

$

72,778.55

$

45,454.83

$

118,233.38

$

151,475.00

$

154,700.00

Field Operations Expenses
Field Operations Management Staff Landscaping & Field Maintenance Landscape Replacement Landscape Mulching
Irrigation Repairs Electricity
Water Use Monitoring
Entry Monuments Maintenance Wetland Monitoring
SFWMD ERP Annual Report Lake Testing
Lake Maintenance
Offsite Mitigation Maintenance
Total Field Operations Expenses

$

-
-
-
-
-
-
-
-
-
-
-
-
-

$

-
-
-
-
-
-
-
-
-
-
-
-
-

$

-
-
-
-
-
-
-
-
-
-
-
-
-

$

-
-
-
-
-
-
-
-
-
-
-
-
-

$

- 160,000.00
-
-
-
-
-
-
-
-
- 40,000.00
-

$

-

$

-

$

-

$

-

$

200,000.00

Total Expenses

$

72,778.55

$

45,454.83

$

118,233.38

$

151,475.00

$

354,700.00

Income (Loss) from Operations

$

78,696.45

$

(45,454.83)

$

33,241.62

$

-

$

-

Other Income (Expense)
Interest Income
Total Other Income (Expense)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Net Income (Loss)

$

78,696.45

$

(45,454.83)

$

33,241.62

$

-

$

-

Page 1 of 5

Exhibit B

Assessment Roll

Brightshore Community Development District

Budgetary Matters

Consideration of O&M Methodology Pro Rata Share Builders Contributions

MASTER OPERATIONS AND MAINTENANCE ASSESSMENT METHODOLOGY REPORT FOR FISCAL YEAR 2026-2027

BRIGHTSHORE COMMUNITY DEVELOPMENT DISTRICT

August 10, 2026

Prepared for:

Members of the Board of Supervisors, Brightshore Community Development District

Prepared on August 10, 2026

PFM Group Consulting LLC
3501 Quadrangle Boulevard, Ste 270
Orlando, FL 32817

MASTER OPERATIONS AND MAINTENANCE ASSESSMENT METHODOLOGY REPORT
August 10, 2026

1.0

Introduction

1.1

Purpose

This Master Operations and Maintenance Assessment Methodology Report for Fiscal Year 2026-2027 (the “O&M Assessment Methodology” or “Report”) for the Brightshore Community Development District (the “District”) has been prepared by PFM Group Consulting, LLC (“PFM” or the “Methodology Consultant”) pursuant to an Agreement for Consulting Services dated July 13, 2026 (the “Agreement”) between the District and PFM. Under Task 1 of the Agreement, PFM was engaged to assist the District in establishing an appropriate assessment methodology to support the allocation of the District’s annual operations and maintenance budget (the “O&M Budget”)1 . This Report (1) determines the special and peculiar benefits that flow to the properties within the District as a logical connection from the operation, maintenance, repair and administration of the District’s facilities and services funded through the O&M Budget, constituting enhanced use and increased enjoyment of the property; and (2) apportions those special benefits on a basis that is fair and reasonable.

This Report is consistent with and applies to the annual budget the equivalent residential unit (“ERU”) allocation methodology previously established for the District and set forth in this Brightshore CDD Master Operations and Maintenance Methodology Report (the “Master O&M Report”) adopted by the Board of Supervisors of the District. The non-ad valorem special assessments securing the District’s O&M Budget for upcoming fiscal years (the “O&M Assessments”) will constitute a lien, co-equal with the liens of State, County, municipal and school board taxes, against the properties within the boundaries of the District that receive the special and peculiar benefits described herein.

PFM prepared this Report so as to conform to the requirements of the Florida Constitution and Chapters 170, 190 and 197, Florida Statutes, applicable to the O&M Assessments, and consistent with PFM’s understanding of the case law on this subject.

1.2

Background

The Brightshore Community (the “Community”) consists of approximately 681.45 acres located in Collier County, Florida (the “County”). The District encompasses the entire approximately 681.45 acres of the Community. The District was formed on December 13, 2022, by Ordinance 2022-50 enacted by the Collier County Board of County Commissioners (the “Ordinance”), which Ordinance became effective

1 Note for Fiscal Year 2026-2027 the District O&M Budget will be funded pursuant to landowner funding agreements with the various property owners described herein. It is anticipated that future fiscal years will be funded with operation and maintenance assessments levied as described herein.

2

December 22, 2022. The landowner of the property constituting the Community is Hogan Farms, LLC (the “Landowner”). In the near future the Landowner will be selling certain property within the District to several builders as described herein.
The Community is being developed with a mix of residential and non-residential land uses. The current development program for the Community (the “Community Development Program”) includes up to 1,489 single-family and townhome/villa residential units of varying homesite sizes, 300 apartment units, 120,000 square feet of commercial/retail use, 20,000 square feet of civic, governmental and institutional use, and 100,000 square feet of indoor self-storage use, as shown in Table 1 below.

Table 1.

Brightshore Community Development Program

Product Type

Total Units

Commercial Square Feet

Townhomes & Villas
36' Homesites
42' Homesites
52' Homesites
62' Homesites Apartments Commercial
Civic Governmental & Institutional Indoor Self-Storage

380
78
224
551
256
300

120,000
20,000
100,000

Totals

1,789

240,000

Source: Brightshore CDD Master Assessment Methodology Report

2.0

Operations and Maintenance Budget

2.1

Annual O&M Budget

The District's Board of Supervisors is responsible for adopting an annual O&M Budget sufficient to fund the operation, maintenance, repair and administration of the District's facilities and services. The Fiscal Year 2026-2027 O&M Budget totals $354,700.00 and is comprised of the General and Administrative, Landscaping, and Lake Maintenance budget lilne items shown in Table 2 on the next page. The General and Administrative account funds District management, administrative, legal, audit, engineering, insurance and other governance-related costs of the District. The Landscaping account funds the maintenance of common area, entry feature, perimeter and right-of-way landscaping within the District. The Lake Maintenance account funds the operation and maintenance of the District's stormwater management lakes and ponds.

3

Table 2. Fiscal Year 2026-2027 Operations and Maintenance Budget

Operations and Maintenance Account

Total

General and Administrative
Landscaping
Lake Maintenance

$154,700.00
$160,000.00
$40,000.00

$354,700.00

Total

Note: Budget Line Items in Appendix A
Source: Brightshore CDD Preliminary FY 2026-2027 Budget Approved by the Board of Supervisors on May 11, 2026.

3.0

Assessment Methodology

3.1

Requirements of a Valid Assessment Methodology

Valid special assessments under Florida law have two requirements. First, the properties assessed must receive a special and peculiar benefit as a logical connection from the systems, facilities and services being funded. Courts recognize that special benefits flow as a logical connection peculiar to the property in the form of enhanced enjoyment and increased use of the property, which in turn may result in decreased insurance premiums and increased value and marketability. Second, the assessments must be fairly and reasonably apportioned in relation to the benefit received by the various properties being assessed.

If these two tests for lienability are determined in a manner that is informed and non-arbitrary by the Board of Supervisors of the District, as a legislative determination, then the O&M Assessments may be levied, imposed and collected as co-equal first liens on the property. Florida courts have found that it is not necessary to calculate benefit with mathematical precision at the time of imposition and levy so long as the levying and imposition process is not arbitrary, capricious, or unfair.

3.2

Equivalent Residential Unit (ERU) Methodology

The special benefits of the District's O&M Budget are apportioned among the various product types within the Community using an Equivalent Residential Unit (“ERU”) methodology. The base equivalent unit is 2,200 square feet, which is the average square footage of a home built on a 52' homesite; the 52' Homesite product type therefore serves as the base ERU factor of 1.00. The ERU factor for each product type is calculated by dividing the average square footage of that product type by the 2,200 square-foot base.

For the Commercial, Civic Governmental & Institutional, and Indoor Self-Storage product types, this calculation is performed on a per-square-foot basis (i.e., 1.00 square foot divided by the 2,200 square-foot base), yielding an ERU factor of approximately 0.000455 per square foot (shown rounded to 0.0005 in Table 3). Multiplying each product type's ERU factor by its total units (or total square footage, for non-residential uses) yields the Total ERUs and the percent total of ERUs for each product type, as shown in Table 3 on the next page.

4

Table 3. Brightshore CDD ERU Factor Calculations

Product Type

Units / Sq. Ft.

Average Sq. Ft./Unit*

ERU FACTOR

Total ERUs

% ERUs

Townhomes & Villas
36' Homesites
42' Homesites
52' Homesites
62' Homesites

380
78
224
551
256

1,800
1,800
2,000
2,200
2,400

0.82
0.82
0.91
1.00
1.09

310.91
63.82
203.64
551.00
279.27

19.37%
3.98%
12.69%
34.34%
17.40%

Apartments
Commercial
Civic Governmental & Institutional Indoor Self-Storage

300
120,000
20,000
100,000

638
1.00
1.00
1.00

0.29
0.0005
0.0005
0.0005

87.00
54.55
9.09
45.45

5.42%
3.40%
0.57%
2.83%

Totals

1,604.73

100.00%

* 52' Homesite serves as the base equivalent of 1.00.

4.0

Allocation of the O&M Budget to Product Types

The Fiscal Year 2026-2027 O&M Budget of $354,700.00 is allocated to each product type in direct proportion to its percentage share of the District's Total ERUs shown in Table 3. Dividing the O&M Benefit Allocation for each product type by its respective number of units (or square feet, for non-residential uses) produces the Allocation Per Unit / Square Foot shown in Table 4 below. On this basis, $311,357.15 of the O&M Budget (87.78%) is allocated to the District's residential product types, and $43,342.85 (12.22%) is allocated to the District's commercial, civic/governmental and indoor self-storage product types.

Table 4.

Brightshore CDD O&M Benefit Allocation by Product Type

O&M Benefit Allocation Per

Product Type

Units / Sq. Ft.

Total ERUs

% ERUs

Allocation

Unit/Square  Total Allocation

Townhomes & Villas
36' Homesites
42' Homesites
52' Homesites
62' Homesites

380
78
224
551
256

310.91
63.82
203.64
551.00
279.27

19.37%
3.98%
12.69%
34.34%

$68,721.62
$14,106.02
$45,010.65
$121,789.98

$180.85
$180.85
$200.94
$221.03

17.40% 	$61,728.89	$241.13	$311,357.15

Apartments
Commercial
Civic Governmental & Institutional Indoor Self-Storage

300
120,000
20,000
100,000

87.00
54.55
9.09
45.45

5.42%
3.40%
0.57%
2.83%

$19,230.00
$12,056.42
$2,009.40
$10,047.02

$64.10
$0.10
$0.10
$0.10

$43,342.85

Totals

1,604.73

100.00%

$354,700.00

$354,700.00

Source: Methodology Consultant

5

5.0

Allocation to Builder Tracts

The residential property within the District is being developed in preparation for selling parcels to builders, who in turn sell homesites to end users. Four builder tracts have been established within the Community: Taylor Morrison (Tract FD-5), Christopher Alan Homes (Tract FD-6), Toll Brothers (Tract FD-7), and Pulte Homes (Tract FD-8). The 1,489 residential units (Townhomes & Villas and 36', 42', 52' and 62' Homesites) representing 1,408.64 Total ERUs are allocated among these four builder tracts based on each builder's respective product mix, as shown in Table 5 below.

Table 5. ERU Allocation by Builder Tract

Source: Methodology Consultant

Applying each builder's percentage share of Total ERUs to the $311,357.15 Total Residential O&M allocation determined in Table 4 produces the O&M Allocation by Homebuilder shown in Table 6 below.

Table 6. O&M Allocation by Homebuilder

Total ERUs by
Homebuilder (Table 5)

Percent ERUs by
Homebuilder

O&M Allocation by
Homebuilder

Builder

Taylor Morrison
Christopher Alan Home Toll Brothers
Pulte Homes

196.36
235.91
395.45
580.91

13.94%
16.75%
28.07%
41.24%

$43,403.13
52,144.03
87,409.08
128,400.92

1,408.64

100.00%

$311,357.15

Source: Methodology Consultant

6

Taylor Morrison

Christopher Alan Homes

Toll Brothers

Pulte Homes

Product Type	Total Units	ERU Factor

Tract FD-5

Tract FD-6

Tract FD-7

Tract FD-8

Total ERUs

Townhomes & Villas	380	0.82
36' Homesites	78	0.82
42' Homesites	224	0.91
52' Homesites	551	1.00
62' Homesites	256	1.09

240

56
185

78
71
170
89

140

97
196
167

310.91
63.82
203.64
551.00
279.27

Total Units and ERUs	1,489

196.36

235.91

395.45

580.91

1,408.64

% of CIP Allocation

13.94%

16.75%

28.07%

41.24%

100.00%

6.0	Quarterly Budget Allocation

The District's O&M expenditures are not incurred evenly throughout the fiscal year; landscaping and lake maintenance costs in particular are higher during the second half of the District's fiscal year, consistent with the Southwest Florida growing season. Table 7 below distributes the Fiscal Year 2026-2027 O&M Budget by quarter and by responsible party. The $311,357.15 residential allocation from Table 6 is shown by builder, and the $43,342.85 allocation attributable to the Apartments, Commercial, Civic Governmental & Institutional, and Indoor Self-Storage product types is shown under “Landowner,” reflecting that those parcels remain in the ownership of the Landowner as of the date of this Report.

Table 7. Fiscal Year 2026-2027 O&M Budget by Quarter

Total O&M
Allocation (Table 6)

Percent
Allocation

Builder

$54,975.00

$53,729.00

$85,241.00 $160,755.00

Taylor Morrison
Christopher Alan Homes Toll Brothers
Pulte Homes Landowner

$43,403.13
$52,144.03
$87,409.08
$128,400.92
$43,342.85

12.24%
14.70%
24.64%
36.20%
12.22%

$6,727.06
$8,081.81
$13,547.54
$19,900.88
$6,717.71

$6,574.59
$7,898.64
$13,240.49
$19,449.82
$6,565.46

$10,430.58
$12,531.18
$21,006.02
$30,857.13
$10,416.09

$19,670.90
$23,632.41
$39,615.02
$58,193.09
$19,643.58

$354,700.00

100.00%

$54,975.00

$53,729.00

$85,241.00 $160,755.00

Source: Methodology Consultant

7.0

Special and Peculiar Benefit to the Property

The operation, maintenance and administration of the District's facilities and services create both special benefits and general benefits. The general benefits to the public at large, however, are incidental in nature and are readily distinguishable from the special and peculiar benefits which flow as a logical connection from the District's O&M activities to property within the District. Absent the ongoing operation and maintenance of the District's stormwater management system, landscaping and other common facilities, and the administration of the District itself, the enjoyment and use of property within the District, and the ability of that property to be developed and used for residential and other purposes, would be diminished.

While the general public and property owners outside the District may benefit incidentally from the District's O&M activities, those benefits are incidental to the special and peculiar benefits derived by property within the District, which is directly and continuously dependent upon the District's O&M activities for the enjoyment, use, and maintenance of value of such property. This fact distinguishes the special and peculiar benefits which lands within the District receive as compared to properties lying outside of the District's boundaries.

7

First Quarter	Second Quarter Third Quarter 4th Quarter

8.0

Reasonable and Fair Apportionment of the Duty to Pay

The special and peculiar benefits of the District's O&M Budget have been apportioned among the District's product types, builder tracts, and the Landowner on the ERU basis described in Sections 3.0 through 6.0 of this Report. The duty to pay the O&M funding as described herein is fairly and reasonably apportioned because the special and peculiar benefits to the property flowing from the District's operation, maintenance and administrative activities, including enhanced enjoyment and increased use which may result in increased value and marketability and decreased insurance premiums, have been apportioned to each property according to reasonable estimates of the benefit conferred by those activities for the reasons set forth in this Report.

Accordingly, no property within the District will be assessed for the payment of any O&M Assessment in an amount greater than the special benefit peculiar to that property having a nexus to the value of the property or the use and enjoyment thereof.

Note that while an amenity facility will be located within District boundaries, it will not be assessed as it will be owned by the Brightshore Master Property Owners Association (“BMPOA”), and the District does not assess common elements of the BMPOA, which is consistent with Florida law.

9.0

Annual Review and Adjustment of the O&M Assessments

The ERU-based methodology set forth in this Report is intended to apply for Fiscal Year 2026-2027 and shall be reviewed and, if necessary, adjusted on an annual basis in conjunction with the District's annual budget adoption process under Section 190.021, Florida Statutes. As the Community Development Program is platted and units are sold to end users, and as the District's actual annual O&M Budget is proposed and adopted by the Board of Supervisors each year, the allocations shown in Tables 4 through 7 of this Report will be re-run using then-current unit counts, product mix, and the O&M Budget for the applicable fiscal year, so that no parcel bears an O&M Assessment disproportionate to the special and peculiar benefit it receives.

10.0

Covenant to Pay

All O&M Assessments levied by the District are a lien on, and run with, the land. The owner of record at the time the annual assessment roll is certified will have the responsibility to make the annual O&M Assessment payments applicable to such owner's property.

8

11.0

Conclusion

Based upon the analysis set forth in this Report, PFM has determined that the ERU-based allocation of the District's Fiscal Year 2026-2027 O&M Budget among the District's product types, builder tracts and the Landowner, as shown in Tables 1 through 7 of this Report, results in a methodology that is fair, reasonable, and consistent with the requirements of Florida law. Notwithstanding material changes to the facts within the Report or per the Board’s direction, PFM recommends that the Board of Supervisors adopt this Report as the methodology for the District's Fiscal Year 2026-2027 O&M Assessments and for future fiscal years.

9

APPENDIX A

10

TRACT FD-5

Taylor Morrison

11

12

TRACT FD-6

Christopher Alan Homes

13

14

TRACT FD-7

Toll Brothers

15

16

17

TRACT FD-8

Pulte Homes

18

19

20

21

Brightshore Community Development District

Budgetary Matters

Consideration of Landowner Cost Share Agreement

BRIGHTSHORE COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2026/2027 FUNDING AGREEMENT

This agreement (“Agreement”) is made and entered into this 	 day of 	
2026, by and between:

Brightshore Community Development District, a local unit of special-purpose
government established pursuant to Chapter 190, Florida Statutes, and located in Collier County, Florida ("District"); and

Hogan Farms, LLC, a Florida limited liability company and a landowner in the
District ("Landowner") with an address of 2600 Golden Gate Parkway, Naples, Florida 34105.

RECITALS

WHEREAS, the District was established by an ordinance adopted by the Board of County
Commissioners of Collier County, Florida, for the purpose of planning, financing, constructing, operating and/or maintaining certain infrastructure; and

WHEREAS, the District, pursuant to Chapter 190, Florida Statutes, is authorized to levy
such taxes, special assessments, fees and other charges as may be necessary in furtherance of the District's activities and services; and

WHEREAS, Landowner presently owns the real property described in Exhibit A, attached
hereto and incorporated herein (“Property”), within the District, which Property will benefit from the timely construction and acquisition of the District's facilities, activities and services and from the continued operations of the District; and

WHEREAS, the District is adopting its general fund budget for the fiscal year beginning
October 1, 2026 and ending September 30, 2027 (“Fiscal Year 2026/2027 Budget”); and

WHEREAS, this Fiscal Year 2026/2027 Budget, which both parties recognize may be
amended from time to time in the sole discretion of the District, is attached hereto and incorporated herein by reference as Exhibit B; and

WHEREAS, the District has the option of levying non-ad valorem assessments on all land,
including the Property, that will benefit from the activities, operations and services set forth in the Fiscal Year 2026/2027 Budget, or utilizing such other revenue sources as may be available to it; and

WHEREAS, in lieu of levying assessments on the Property, the Landowner is willing to
provide such funds as are necessary to allow the District to proceed with its operations as described in Exhibit B; and

WHEREAS, the Landowner agrees that the activities, operations and services provide a
special and peculiar benefit equal to or in excess of the costs reflected on Exhibit B to the Property; and

WHEREAS, the Landowner has agreed to enter into this Agreement in lieu of having the
District levy and collect any non-ad valorem assessments as authorized by law against the Property located within the District for the activities, operations and services set forth in Exhibit B; and

WHEREAS, Landowner and District desire to secure such budget funding through the
imposition of a continuing lien against the Property described in Exhibit A and otherwise as provided herein.

NOW, THEREFORE, based upon good and valuable consideration and the mutual
covenants of the parties, the receipt of which and sufficiency of which are hereby acknowledged, the parties agree as follows:

1.

FUNDING. The Landowner agrees to make available to the District twelve and 24

hundredths percentage (12.24%) of the monies necessary for the operation of the District as
called for in the budget attached hereto as Exhibit B, as may be amended from time to time in the District’s sole discretion. Payments shall be made in quarterly payments due October 1, 2026, January 1, 2027, April 1, 2027, and July 1, 2027 in the amount of $10,835.72. Amendments to the Fiscal Year 2026/2027 Budget as shown on Exhibit B adopted by the District at a duly noticed meeting shall have the effect of amending this Agreement without further action of the parties. The Landowner shall be responsible for twelve and 24 hundredths percentage (12.24%) of any additional funds needed to fund the budget as amended. Funds provided hereunder shall be placed in the District's general checking account. These payments are made by the Landowner in lieu of taxes, fees, or assessments which might otherwise be levied or imposed by the District.

2.

CONTINUING LIEN. District shall have the right to file a continuing lien upon the

Property described in Exhibit A for all payments due and owing under the terms of this
Agreement and for interest thereon, and for reasonable attorneys’ fees, paralegals’ fees, expenses and court costs incurred by the District incident to the collection of funds under this Agreement or for enforcement of this lien, and all sums advanced and paid by the District for taxes and payment on account of superior interests, liens and encumbrances in order to preserve and protect the District’s lien. The lien shall be effective as of the date and time of the recording of a “Notice of Lien for Fiscal Year 2026/2027 Budget” in the public records of Collier County, Florida (“County”), stating among other things, the description of the real property and the amount due as of the recording of the Notice, and the existence of this Agreement. The District Manager, in its sole discretion, is hereby authorized by the District to file the Notice of Lien for Fiscal Year 2026/2027 Budget on behalf of the District, without the need of further Board action authorizing or directing such filing. At the District Manager’s direction, the District may also bring an action at law against the record title holder to the Property to pay the amount due under this

Agreement or may foreclose the lien against the Property in any manner authorized by law. The
District may partially release any filed lien for portions of the Property subject to a plat if and when the Landowner has demonstrated, in the District’s sole discretion, such release will not materially impair the ability of the District to enforce the collection of funds hereunder. In the event the Landowner sells any of the Property described in Exhibit A after the execution of this Agreement, the Landowner’s rights and obligations under this Agreement shall remain the same, provided however that the District shall only have the right to file a lien upon the remaining Property owned by the Landowner.

3.

ALTERNATIVE COLLECTION METHODS.

a. In the alternative or in addition to the collection method set forth in Paragraph
2 above, the District may enforce the collection of funds due under this Agreement by action against the Landowner in the appropriate judicial forum in and for the County. The enforcement of the collection of funds in this manner shall be in the sole discretion of the District Manager on behalf of the District. In the event that either party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the prevailing party shall be entitled to recover from the other all costs incurred, including reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.

b. The District hereby finds that the activities, operations and services set forth in
Exhibit B provide a special and peculiar benefit to the Property, which benefit is initially allocated on an equal developable acreage basis. The Landowner agrees that the activities, operations and services set forth in Exhibit B provide a special and peculiar benefit to the Property equal to or in excess of the costs set forth in Exhibit B, on an equal developable acreage basis. Therefore, in the alternative or in addition to the other methods of collection set forth in this Agreement, the District, in its sole discretion, may choose to certify amounts due hereunder as a non-ad valorem assessment on all or any part of the Property for collection, either through the Uniform Method of Collection set forth in Chapter 197, Florida Statutes, or under any method of direct bill and collection authorized by Florida law. Such assessment, if imposed, may be certified on the next available tax roll of the County property appraiser.

4.

AGREEMENT; AMENDMENTS. This instrument shall constitute the final and

complete expression of the agreement between the parties relating to the subject matter of this
Agreement. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by both of the parties hereto.

5.

AUTHORIZATION. The execution of this Agreement has been duly authorized by

the appropriate body or official of all parties hereto, each party has complied with all the
requirements of law, and each party has full power and authority to comply with the terms and provisions of this instrument.

6.

ASSIGNMENT. This Agreement may be assigned, in whole or in part, by either

party only upon the written consent of the other, which consent shall not be unreasonably
withheld. Any assignment without such prior written approval shall be null and void.

7.

DEFAULT. A default by either party under this Agreement shall entitle the other

to all remedies available at law or in equity, which shall include, but not be limited to, the right
of damages, injunctive relief and specific performance and specifically including the ability of the District to enforce any and all payment obligations under this Agreement in the manner described herein in Paragraphs 2 and 3 above.

8.

THIRD PARTY RIGHTS; TRANSFER OF PROPERTY. This Agreement is solely for the

benefit of the formal parties herein and no right or cause of action shall accrue upon or by reason
hereof, to or for the benefit of any third party not a formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the parties hereto and their respective representatives, successors and assigns. In the event the Landowner sells or otherwise disposes of its business or of all or substantially all of its assets relating to improvements, work product, or lands within the District, the Landowner shall continue to be bound by the terms of this Agreement and additionally shall expressly require that the purchaser agree to be bound by the terms of this Agreement. The Landowner shall give 90 days prior written notice to the District under this Agreement of any such sale or disposition.

9.

FLORIDA LAW GOVERNS. This Agreement and the provisions contained herein

shall be construed, interpreted and controlled according to the laws of the State of Florida.

10.	ARM’S LENGTH TRANSACTION. This Agreement has been negotiated fully
between the parties as an arm's length transaction. The parties participated fully in the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are each deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any party.

11.

EFFECTIVE DATE. The Agreement shall be effective upon the date first written

above and after execution by both parties hereto. The enforcement provisions of this Agreement
shall survive its termination, until all payments due under this Agreement are paid in full.

[remainder of page intentionally left blank]

IN WITNESS WHEREOF, the parties execute this Agreement the day and year first written

above.

Attest:

BRIGHTSHORE COMMUNITY
DEVELOPMENT DISTRICT

Secretary / Assistant Secretary

Chairperson, Board of Supervisors

HOGAN FARMS, LLC, a Florida limited
liability company

Witness

By: 	
Its: 	

EXHIBIT A:
EXHIBIT B:

Property Description
Fiscal Year 2026/2027 Budget

EXHIBIT A
Property Description

EXHIBIT B
Fiscal Year 2026/2027 Budget

Brightshore CDD
FY 2027 Proposed O&M Budget

Actual to 06/30/2026

Anticipated Jul 2026
to Sept 2026

Anticipated FY 2026 Total

FY 2026 Adopted Budget

FY 2027 Proposed Budget

Revenues
Developers Contributions
Net Revenues

$

151,475.00

$

-

$

151,475.00

$

151,475.00

$

354,700.00

$

151,475.00

$

-

$

151,475.00

$

151,475.00

$

354,700.00

General & Administrative Expenses Public Officials' Liability Insurance Trustee Services
Management
Engineering Disclosure
Property Appraiser Fee District Counsel Assessment Administration
Professional Services Accounting Reamortization Schedule
Audit
Arbitrage Calculation Tax Preparation Travel and Per Diem Postage & Shipping Legal Advertising Miscellaneous
Office Supplies
Web Site Maintenance Dues, Licenses, and Fees General Insurance
Total General & Administrative Expenses

3,032.00
- 33,250.00
10,580.00
-
- 14,209.80
1,000.00
4,635.00
-
-
-
-
-
- 1,384.69
232.06
- 1,800.00
175.00
2,480.00

-
- 12,000.00
3,526.67
-
- 4,736.60
17,500.00
230.00
- 7,000.00
-
-
-
- 461.56
-
-
-
-
-

3,032.00
- 45,250.00
14,106.67
-
- 18,946.40
18,500.00
4,865.00
- 7,000.00
-
-
-
- 1,846.25
232.06
- 1,800.00
175.00
2,480.00

3,500.00
- 42,000.00
20,000.00
-
- 40,000.00
18,500.00
6,000.00
- 7,000.00
-
-
-
- 7,500.00
500.00
- 3,000.00
175.00
3,300.00

3,650.00
5,000.00
48,000.00
20,000.00
2,500.00
- 40,000.00
18,500.00
- 250.00
7,000.00
500.00
25.00
1,500.00
100.00
500.00
500.00
500.00
3,000.00
175.00
3,000.00

$

72,778.55

$

45,454.83

$

118,233.38

$

151,475.00

$

154,700.00

Field Operations Expenses
Field Operations Management Staff Landscaping & Field Maintenance Landscape Replacement Landscape Mulching
Irrigation Repairs Electricity
Water Use Monitoring
Entry Monuments Maintenance Wetland Monitoring
SFWMD ERP Annual Report Lake Testing
Lake Maintenance
Offsite Mitigation Maintenance
Total Field Operations Expenses

$

-
-
-
-
-
-
-
-
-
-
-
-
-

$

-
-
-
-
-
-
-
-
-
-
-
-
-

$

-
-
-
-
-
-
-
-
-
-
-
-
-

$

-
-
-
-
-
-
-
-
-
-
-
-
-

$

- 160,000.00
-
-
-
-
-
-
-
-
- 40,000.00
-

$

-

$

-

$

-

$

-

$

200,000.00

Total Expenses

$

72,778.55

$

45,454.83

$

118,233.38

$

151,475.00

$

354,700.00

Income (Loss) from Operations

$

78,696.45

$

(45,454.83)

$

33,241.62

$

-

$

-

Other Income (Expense)
Interest Income
Total Other Income (Expense)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Net Income (Loss)

$

78,696.45

$

(45,454.83)

$

33,241.62

$

-

$

-

Page 1 of 5

Brightshore Community Development District

Budgetary Matters

Consideration of Fiscal Year 2027 Builders Funding Agreement:






Taylor Morrison Christopher Alan Homes Tolls Brothers
Pulte Homes

FUNDING AGREEMENT

[RE: Brightshore CDD / Pulte Home Company, LLC]

THIS FUNDING AGREEMENT  (this “Agreement”) is made  and entered into  as of
	  , 2026 (the “Effective Date”), by and among BRIGHTSHORE COMMUNITY DEVELOPMENT DISTRICT, a local unit of special-purpose government established by Chapter 190, Florida Statutes (the “CDD”) and Pulte Home Company, LLC, a Michigan limited liability company(“Buyer”). For purposes of this Agreement, CDD, and Buyer are each a “Party” and collectively are the “Parties”.

WITNESSETH:

WHEREAS, simultaneously herewith, pursuant to that certain Amended and Restated Purchase and Sale Agreement with an effective date of February 16, 2026 between Hogan Farms, LLC, a Florida limited liability company (as “Seller”) and Buyer, as may be further amended from time to time (the “Purchase Agreement”), Buyer has purchased certain land from Seller located in the Naples, Florida the legal description of which is attached hereto as Exhibit “A” (the “Property”), to be developed as a residential neighborhood in the Brightshore village (the “Village”) in Collier County, Florida; and

WHEREAS, as an express condition of Seller agreeing to sell the Property to the Buyer, the Buyer agreed to reimburse the CDD for the costs associated with the operation of the CDD, and debt service for CDD Debt in the form of special assessment principal and interest payments, even if such amounts would not otherwise be assessed against Residential Units within the Property, as hereafter set forth; and

WHEREAS, capitalized terms not otherwise defined herein shall have the meaning set forth in the Purchase Agreement.

NOW, THEREFORE, in consideration of the covenants contained herein the Parties, each desiring to be legally bound, hereby agree as follows:

1.

Incorporation of Recitals.  The foregoing recitals are true and accurate and are

incorporated herein by reference.

2.

O&M Reimbursement Obligation. Commencing on the Effective Date hereof, and

continuing all times thereafter until all Residential Units within the Property are platted and assessed

as separate tax parcels on the Collier County tax rolls, Buyer shall pay to the CDD the O&M Assessment Shortfall (as hereafter defined). For purposes hereof, the “O&M Assessment Shortfall” shall mean and refer to the operating costs and expenses of the CDD (including reserve expenses) that are allocated by the CDD to those portions of the Property acquired by Buyer, less the amount that the CDD collects from (i) all other third party End Purchasers that own Residential Units developed by Buyer, and (ii) Buyer, with respect to Buyer-owned Residential Units on the tax rolls. The O&M Assessment Shortfall shall be calculated by the CDD annually for the upcoming fiscal year (with the CDD’s budget ending on 9/30) and an invoice for such shortfall shall be sent to Buyer; Buyer shall remit such annual shortfall the CDD, in equal quarterly installments, in advance, with each quarterly payment due on October 15, January 15, April 15 and July 15.

3.

CDD Debt Service Reimbursement Obligation. Commencing on the Effective

Date and continuing thereafter until all Residential Units within the Property are platted and assessed as separate tax parcels on the Collier County tax rolls, Buyer shall pay CDD the Debt Assessment

Shortfall (as hereafter defined). For purposes hereof, the “Debt Assessment Shortfall” shall mean and refer to the CDD’s biannual debt service obligation that is allocated by the CDD to the portions of the Property acquired by Buyer, less the amount that the CDD collects from (i) all other third party End Purchasers that own Residential Units developed by Buyer, and (ii) Buyer, with respect to Buyer-owned Residential Units on the tax rolls. Buyer shall remit such Debt Assessment Shortfall payments to the CDD in semi-annual installments, on April 15th and October 15th of each year. For clarification, the payments due on April 15 and October 15 will correspond with the CDD Debt Assessments for the fiscal year ending September 30th of the same year.

4.

Default.

If either party fails to comply with its obligations hereunder after the

expiration of a ten (10) day written notice and cure period, the non-defaulting party shall be entitled

to pursue all legal and equitable remedies available under law, but excluding special or punitive damages. Any amounts not paid when due hereunder (irrespective of the notice and cure period provided hereinabove) shall bear interest at the rate of fifteen percent (15%) per annum, from the date originally due, until payments is actually received by the party to which such payment(s) are due.

5.

Notice. Any notice required or permitted under this Agreement shall be in writing

and shall be deemed delivered (a) three (3) Business Days after being mailed postage prepaid, by

registered or certified mail, return receipt requested or (b) one (1) Business Day after being deposited with a nationally-recognized overnight courier service or (c) when sent via electronic mail (email) addressed to the respective parties at the respective addresses set forth below:

To CDD:

Brightshore Community Development District Attn: Nick Casalanguida
2600 Golden Gate Parkway Naples, FL 34105
Phone: 239-262-2600
ncasalanguida@barroncollier.com

If to Buyer:

Pulte Home Company, LLC
Attn: Josh Graeve, Division President Southwest Florida Division
24311 Walden Center Drive Suite 300
Bonita Springs, FL 34134
Phone: 239-495-4828; 239-495-4809
josh.graeve@pultegroup.com steven.gust@pultegroup.com

with a copy to:

Dean, Mead, Egerton, Bloodworth, Capouano & Bozarth, P.A.

2

Attn: David P. Barker, Esq. 420 S Orange Ave.
Suite 700
Orlando, FL 32801
Phone: 407-428-5118
dbarker@deanmead.com

6.

Time of Essence. It is expressly agreed by CDD and Buyer that time is of the essence

of this Agreement and in the performance of all conditions, covenants, requirements, obligations, and warranties to be performed or satisfied by CDD and Buyer hereunder. Waiver of performance or satisfaction of timely performance or satisfaction of any condition, covenant, requirement,

obligation, or warranty by either CDD or Buyer will not be deemed to be a waiver of the performance or satisfaction of any other condition, covenant, requirement, obligation or warranty unless specifically consented to in writing.

7.

Force Majeure.

If any Party is unable to perform its obligations under this

Agreement due to or as a result of an act of God, including flood, storm, earthquake, hurricane,

tornado, or other severe weather or climatic condition; act of public enemy, war, actual or threatened acts of terrorism or bioterrorism, blockage, insurrection, or riot, fire, wreck, derailment, washout or explosion; strike, lockout or labor dispute; or embargo or governmental law, order or regulation, pandemics or endemics, or any other reason beyond the reasonable control of the Party affected (“Force Majeure Event”), then this Agreement shall be suspended between the Parties for the duration of such Disability. For purposes of this section, “Disability” shall be defined as the delaying, hindering, impairment, prevention, or impossibility that is inflicted upon a Party’s persistence and good faith efforts to perform completely and fully in a timely manner its respective duties and/or obligations. If any Party invokes this force majeure provision, then it shall give prompt written notice to the other Parties of the existence and other relevant circumstances relating to the force majeure condition that is relied upon and shall demonstrate that it has taken all reasonable steps to minimize the consequences of such condition. A Party’s insolvency and/or lack of funds shall be specifically excluded from the definition of Force Majeure Event under this Agreement.

8.

Governing Law and Binding Effect. This Agreement shall be governed by and

construed in accordance with the laws of the State of Florida. This Agreement shall be binding upon

and inure to the benefit of the Parties hereto and their successors, heirs, legal representatives and assigns. This Agreement may be executed in several counterparts, each of which shall constitute an original and all of which together shall constitute one and the same instrument. In the event of any dispute between CDD and Buyer concerning this Agreement or the Funds, each of CDD and Buyer knowingly and voluntarily waive any right to a trial by jury.

[Signatures on Following Pages]

3

IN WITNESS WHEREOF, each of the parties hereto has duly signed and sealed this Agreement or caused such to be done, effective as of the date of this Agreement.

CDD:

BRIGHTSHORE COMMUNITY DEVELOPMENT DISTRICT,
a local unit of special purpose government established pursuant to Fla. Stat. Ch. 190, located in Collier County, FL

By:	  Print Name:	 Title:		

ATTESTATION OF DISTRICT MANAGER:

By:	
	, District Manager

4

BUYER:

Pulte Home Company, LLC,
a Michigan limited liability company

By:	  Print Name: 	  Title: 	

5

EXHIBIT “A”

Property

Tract FD-8, BRIGHTSHORE VILLAGE, according to the plat thereof as recorded in Plat Book 78, Pages 1 through 24, inclusive, of the Public Records of Collier County, Florida.

6

Builders for Funding Contracts

Brightshore Community Development District

Construction Matters

Consideration of Temporary Construction Easement Agreement to HOA with Guardhouse Construction

This instrument was prepared by and upon recording should be returned to:

Alyssa Willson, Esq. Kutak Rock LLP
107 West College Avenue Tallahassee, Florida 32301

TEMPORARY CONSTRUCTION EASEMENT AGREEMENT [GUARDHOUSE]

THIS	TEMPORARY

CONSTRUCTION

EASEMENT	AGREEMENT

(“Agreement”) is made this     day of 	, 2026 by BRIGHTSHORE COMMUNITY DEVELOPMENT DISTRICT, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, whose address is 3501 Quadrangle

Boulevard, Suite 270, Orlando, Florida 32817 (“District”), and BRIGHTSHORE MASTER PROPERTY OWNERS’ ASSOCIATION, INC. a Florida not-for-profit corporation, whose address for purposes hereof is 2600 Golden Gate Parkway, Naples, Florida 34105 (“HOA,” and together with District, “Parties,” and each a “Party”).

W I T N ES S ET H :

WHEREAS, the District is a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes for the purpose of planning, constructing, acquiring and/or maintaining certain infrastructure improvements, facilities and services within and without the boundaries of the District; and

WHEREAS, the District presently owns the land described in Exhibit A (“Easement Area”); and

WHEREAS, the HOA desires to construct a guardhouse (“Improvements”) within the Easement Area as further depicted in the attached Exhibit B (“Work”); and

WHEREAS, given that the District has no objections, the HOA desires to undertake the

Work.

NOW, THEREFORE, in consideration of the sum of Ten and 00/100 Dollars ($10.00) and other good and valuable consideration and the mutual covenants of the Parties, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

1.

Recitals. The foregoing recitals are true and correct and by this reference are

incorporated as a material part of this Agreement.

2.

Construction Easement. The District hereby grants to HOA an easement over,

upon, under, through, and across the Easement Area for ingress and egress for the Work

(“Easement”). HOA shall use all due care to protect the Easement Area and adjoining property

from damage resulting from HOA’s use of the Easement Area. The HOA agrees to pay the cost associated with and cooperate fully in the transfer of any permits to the District for any improvements conveyed pursuant to this Easement. HOA shall remain responsible for completion of all required permits, certifications or other approvals necessary to convey the improvements to the District, and upon completion of the Work and approval by the District Engineer shall convey the Improvements to the District via bill of sale for District’s ownership, operation and maintenance.

3.

Damage. In the event that HOA, its respective employees, agents, assignees,

contractors (or their subcontractors, employees or materialmen), or representatives cause damage to the Easement Area or to adjacent property or improvements in the exercise of the easement rights granted herein, HOA, at HOA’s sole cost and expense, agrees to promptly commence and diligently pursue the restoration of the same and the improvements so damaged to, as nearly as practical, the original condition.

4.

Insurance and Indemnity. HOA and/or any contractors performing work for HOA

on the Easement Area, shall at all times maintain general public liability insurance to afford

protection against any and all claims for personal injury, death or property damage arising directly or indirectly out of the exercise of the rights and privileges granted. Said insurance maintained by any contractors performing work for HOA on the Easement Area shall be issued by solvent, reputable insurance companies authorized to do business in the State of Florida, naming HOA and District as insureds, as their interests may appear, in a combined-single limit of not less than
$1,000,000.00 with respect to bodily injury or death and property damage. Said insurance shall also be primary, and not contributory, as to any insurance coverage maintained by District. HOA hereby agrees to indemnify and hold harmless District from and against any and all liability arising out of HOA’s activities within the Easement Area. HOA agrees that nothing contained in this Agreement shall constitute or be construed as a waiver of District’s limitations on liability as set forth in Section 768.28, Florida Statutes, or other applicable law.

5.

Liens. HOA shall not permit (and shall promptly satisfy or bond) any construction,

mechanic’s lien or encumbrance against the Easement Area in connection with the exercise of rights hereunder. If any contract for Work within the Easement Area total exceeds $200,000.00, HOA shall require contractor post a payment and performance bond in accordance with the requirements of s. 255.05, Florida Statutes.

6.

Default. A default by the District or HOA under this Agreement shall entitle the

other to all remedies available at law or in equity, which may include, but not be limited to, the right of actual damages, injunctive relief, and specific performance.

7.

Enforcement of Agreement. In the event that the District or HOA seeks to enforce

this Agreement by court proceedings or otherwise, then the prevailing Party shall be entitled to recover all fees and costs incurred, including reasonable attorneys’ fees and costs for trial, alternative dispute resolution, or appellate proceedings.

8.

Notices. Any notice, demand, consent, authorization, request, approval, or other

communication that any Party is required, or may desire, to give to or make upon the other Party

pursuant to this Agreement shall be effective and valid only if in writing and delivered personally

to the other Parties or sent by express 24-hour guaranteed courier or delivery service or by certified mail of the United States Postal Service, postage prepaid and return receipt requested, addressed to the other Party at the addresses first listed above (or to such other place as any Party may by notice to the others specify). Notice shall be deemed given when received, except that if delivery is not accepted, notice shall be deemed given on the date of such non-acceptance. Notices delivered after 5:00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving notice would otherwise expire on a non-business day, the notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized by the United States government shall not be regarded as business days. Counsel for the District and counsel(s) for HOA may deliver Notice on behalf of the District and HOA, respectively.

9.

Third Parties. This Agreement is solely for the benefit of the District and HOA,

and no right or cause of action shall accrue upon or by reason, to or for the benefit of any third party not a formal party to this Agreement. Nothing in this Agreement expressed or implied is

intended or shall be construed to confer upon any person, corporation, or entity other than the District and HOA any right, remedy, or claim under or by reason of this Agreement or any of the provisions or conditions of this Agreement. The District shall be solely responsible for enforcing its rights under this Agreement against any interfering third party. Nothing contained in this Agreement shall limit or impair the District’s right to protect its rights from interference by a third party.

10.

Assignment. Neither of the Parties hereto may assign, transfer, or license all or any

portion of its rights under this Agreement without the prior written consent of the other Party. Any

purported assignment, transfer, or license by one of the Parties absent the written consent of the other Party shall be void and unenforceable.

11.

Controlling Law and Venue. This Agreement shall be construed, interpreted, and

controlled according to the laws of the State of Florida. The Parties agree and consent to venue in

Collier County, Florida, for the resolution of any dispute, whether brought in or out of court, arising out of this Agreement.

12.

Public Records. All documents of any kind provided in connection with this

Agreement are public records and are treated as such in accordance with Florida law.

13.

Severability. The invalidity or unenforceability of any one or more provisions or

part of a provision of this Agreement shall not affect the validity or enforceability of the remaining provisions of this Agreement or any part of this Agreement not held to be invalid or unenforceable.

14.

Binding Effect. This Agreement and all of the provisions, representations,

covenants, and conditions contained herein shall be binding upon and inure to the benefit of the Parties hereto and their respective successors and permitted assigns, transferees, and/or licensees.

15.

Authorization. By execution below, the undersigned represent that they have been

duly authorized by the appropriate body or official of their respective entity to execute this Agreement, that the respective Parties have complied with all the requirements of law, and they have full power and authority to comply with the terms and provisions of this instrument.

16.

Amendments. Amendments to and waivers of the provisions contained in this

Agreement may be made only by an instrument in writing which is executed by both the District and HOA.

17.

Entire Agreement. This instrument shall constitute the final and complete

expression of the agreement between the Parties relating to the subject matter of this Agreement.

18.

Effective Date. The effective date of this Agreement shall be the date first written

above. The Easement shall automatically terminate as it relates to any portion of the Easement Area upon the conclusion of the Work and acceptance of the Improvements by the District.

19.

Counterparts. This Agreement may be executed in counterparts, each of which

shall constitute an original, but all taken together shall constitute one and the same agreement.

[SIGNATURES ON FOLLOWING PAGES]

IN WITNESS WHEREOF, District and HOA caused this Agreement to be executed, to be effective as of the day and year first written above.

WITNESSES:

Signed, sealed and delivered in the presence of:

BRIGHTSHORE COMMUNITY DEVELOPMENT DISTRICT

By:	 Chairperson / Vice Chairperson

Print Name:	  Address: 	

Print Name:	  Address: 	

STATE OF FLORIDA COUNTY OF 	

The foregoing instrument was acknowledged before me this     day of 		, 2026, by means of ◻ physical presence or ◻ online notarization by 			 as Chairperson/Vice Chairperson of Brightshore Community Development District, on behalf of District. He/She is personally known to me or has produced 	 as identification.

Print Name:	 Notary Public, State of Florida
Commission No.:	 My Commission Expires:	

{Notary Seal}

Signed, sealed and delivered

BRIGHTSHORE MASTER PROPERTY OWNERS’ ASSOCIATION, INC.

in the presence of:

By:	 Name:	 Title:	

Print Name:	  Address: 	

Print Name:	  Address: 	

STATE OF FLORIDA COUNTY OF 	

The foregoing was sworn to and subscribed before me this     day of 	, 2026, by means of ◻ physical presence or ◻ online notarization by 		, as 	 of Brightshore Master Property Owners’ Association, Inc. He/She is personally known to me or has produced 	 as identification.

Print Name:	 Notary Public, State of Florida
Commission No.:	 My Commission Expires:	

{Notary Seal}

Exhibit A

Legal Description

Exhibit B

Depiction of Work Area

Brightshore Community Development District

Construction Matters

Consideration of Amendment to Construction Contract for Utility & Drainage Project with Jensen Underground Utilities

AMENDMENT TO CONSTRUCTION CONTRACT

This Amendment (“Amendment”) dated effective as of August   , 2026 (“Effective Date”) is made and entered into by Brightshore Community Development District, hereinafter referred to as “OWNER” and Jensen Underground Utilities, Inc., hereinafter referred to as “CONTRACTOR”.

RECITALS

Whereas, Owner and contractor entered into that certain Form of Agreement Between Owner and Contractor for Construction Contract (Stipulated Price), dated 	, 2026 (“Agreement”), pursuant to which the Contractor agreed to provide certain services to the District; and

Whereas, Owner and contractor wish to amend certain terms of the Agreement hereinafter provided.

Now, therefore, for good and valuable consideration and the mutual agreements set forth herein and in the Agreement, the receipt and sufficiency of which are hereby acknowledged by the parties, Owner and Contractor agree as follows:

1.

Article 6.02(A) of the Agreement is hereby amended to read as follows:

Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment on or about the 25th day of each month during performance of the Work as provided in Paragraph 6.02.A.1 below or otherwise in a manner consistent with the Local Government Prompt Payment Act, sections 218.70 through 218.80 of the Florida Statutes. All such payments will be lump sum based on the schedule of values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work, the unit prices will be used for change orders however progress payments will be lump sum) or, in the event there is no schedule of values, as provided in the General Conditions or elsewhere in the Agreement.

2.

An updated schedule of values is attached hereto as Exhibit A.

3.

Except as herein expressly amended, each and every other term of the Agreement shall remain unchanged and in full force and effect without modification, and Owner and Contractor hereby ratify and affirm the same.

4.

This Amendment may be executed in multiple counterparts, each of which, when taken together, shall be deemed an original, but all of which together shall be deemed to constitute one and the same document. A facsimile or electronic signature of either party (including through platforms like DocuSign and Digi-Ink and in a file in .pdf or similar format) shall constitute an original signature of such party for all purposes.

Signatures on following page.

1

4907-9687-4178.1

(“OWNER”)

BRIGHTSHORE COMMUNITY DEVELOPMENT DISTRICT

By: 	 Name: 		 Title: 		

(“CONTRACTOR”)

JENSEN UNDERGROUND UTILITIES, INC.
a Florida corporation

By:	 Name: 	 Title: 	

Exhibit A:

Updated Schedule of Values

2

4907-9687-4178.1

Exhibit A

Updated Schedule of Values

3

4907-9687-4178.1

Brightshore Community Development District

Construction Matters

Consideration of Notice of Commencement with Jensen Underground Utilities

Upon recording, please return to: Alyssa C. Willson, Esq.
Kutak Rock LLP
107 West College Avenue Tallahassee, Florida 32301

NOTICE OF COMMENCEMENT

STATE OF FLORIDA COUNTY OF COLLIER

THE UNDERSIGNED hereby gives notice that improvements will be made to certain real property in Collier County, Florida. The following information is provided in this Notice of Commencement.

1.

Description of property (legal description of property and address if available): See Exhibit A

2.

General description of improvements: Brightshore Utility and Drainage Project

Owner information
a) Name and address: Brightshore Community Development District	 707 Orchid Drive, Suite 100

Naples, Florida 34102

(239) 269-1341

Interest in property: 	Owner	
Name and address of fee simple titleholder (if other than owner):	

4.

Contractor (name and address): Jensen Underground Utilities, Inc.	
5585 Taylor Road, Naples, Florida 34109

5.

Surety:
a) Name and address: 	See attached Exhibit B	

b) Amount of Bond

$

See attached Exhibit B

6.

Lender (name and address)	N/A	

7.

Person within the State of Florida designated by owner upon whom notices or other documents may be served.
Name and address:  Kutak Rock LLP	 107 West College Avenue

Tallahassee, Florida 32301

8.

In addition, owner designates the following individual to receive a copy of any notices:
Russ Weyer

707 Orchid Drive, Suite 100

Naples, Florida 34102

9.

Expiration date of notice of commencement 	 (the expiration date is one year from the date of recording unless a different date is specified).

1

The foregoing information and execution of this notice is being provided solely for the purpose of allowing the above named Contractor to obtain a building permit. The Owner of the property is a local unit of special purpose government and not an “Owner” as defined in Section 713.01(23), Florida Statutes. Therefore, there are no lien rights available to any person providing materials or services for improvements upon the above described real property. Please contact the District Manager, Russ Weyer, at 239-269-1341, for additional information.

Witnesses:

BRIGHTSHORE COMMUNITY DEVELOPMENT DISTRICT
a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes

Name: 	  Address: 	

By: 	 Its: Chairperson, Board of Supervisors

Name: 	  Address: 	

STATE OF FLORIDA COUNTY OF 	

The following instrument was acknowledged before me by means of 𝖮 physical presence or 𝖮 online notarization, this     day of 	, 2025, by 		, as Chairperson of the Board of Supervisors of the Brightshore Community Development District, who is personally known to me or produced 		 as identification.

NOTARY SEAL

(Official Notary Signature)

Name: 	

Exhibit A: Exhibit B:

Legal Description
Performance and Payment Bonds

2

Exhibit A

Legal Description

All tracts located within the Brightshore Village Plat recorded under Plat Book 78 Pages 1-24.

3

Exhibit B

Performance and Payment Bonds

4

5

6

7

8

9

10

11

12

13

14

15

16

Brightshore Community Development District

Construction Matters

Discussion Pertaining to Process and Reimbursement for Utility Impact Fees

Brightshore Community Development District

Financing Matters

Consideration of Resolution 2026-08, Establishing Checking Account and Signers

RESOLUTION 2026-08

A  RESOLUTION  OF  THE  BOARD  OF  SUPERVISORS  OF  THE

BRIGHTSHORE	COMMUNITY	DEVELOPMENT

DISTRICT

AUTHORIZING THE DISTRICT MANAGER TO ESTABLISH A CHECKING ACCOUNT ON BEHALF OF THE DISTRICT AND TO DESIGNATE THE AUTHORIZED SIGNATORIES FOR THE DISTRICT’S OPERATING BANK ACCOUNT(S); AND PROVIDING FOR AN EFFECTIVE DATE.

WHEREAS, the Brightshore Community Development District (“District”) is a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, and located in Collier County, Florida; and

WHEREAS, the Board of Supervisors of the District (“Board”) desires to establish a checking account on behalf of the District; and

WHEREAS, pursuant to Chapter 190, Florida Statutes, the funds of the District shall be disbursed by warrant or check signed by the Treasurer and by such other person as may be authorized by the Board; and

WHEREAS, the Board has pursuant to Resolution 2026-04, elected a Secretary and Treasurer for the District; and

WHEREAS, the District Board desires to authorize signatories for the operating bank accounts(s).

NOW,	THEREFORE,	BE	IT	RESOLVED	BY	THE	BOARD	OF

SUPERVISORS

OF

THE

BRIGHTSHORE

COMMUNITY

DEVELOPMENT DISTRICT:

1.

The District Manager is hereby authorized to establish a checking account on behalf of the District.

2.

The Chair, Secretary, Treasurer and Assistant Treasurer are hereby designated as authorized signatories for the operating bank account(s) of the District.

3.

This Resolution shall take effect immediately upon its adoption.

PASSED AND ADOPTED this 10th day of August 2026.

ATTEST:

BRIGHTSHORE COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary

Chairperson, Board of Supervisors
1

Brightshore Community Development District

Financing Matters

Ratification of Requisitions 8 & 9

FORM OF REQUISITION FOR SERIES 2026 PROJECT
The undersigned, an Authorized Officer of Brightshore Community Development District (the "District") hereby submits the following requisition for disbursement under and pursuant to the terms of the Master Trust Indenture between the District and U.S. Bank Trust Company, National Association, Orlando, Florida, as trustee (the "Trustee"), dated as of March 1, 2026 (the "Master Indenture"), as supplemented by the First Supplemental Trust Indenture between the District and the Trustee, dated as of March 1, 2026 (the "Supplemental Indenture" and together with the Master Indenture, the "Indenture") (all capitalized terms used herein shall have the meaning ascribed to such term in the Indenture):

(A)
(B)

Requisition Number: 8

Name of Payees:

Ferguson US Holdings, Inc. Quality Precast Solutions, LLC Foley Products Company
Jensen Underground Utilities, Inc.

(C)

Amount Payable: $877,099.71 Broken Down as follows:

(D)

Purpose for which paid or incurred (refer also to specific

contract if

amount is due and payable pursuant to a contract involving progress payments or state costs of issuance, if applicable): Not applicable.

(E)

Fund or Account and subaccount, if any, from which disbursement to be 299303005 Brightshore CDD2026 Acquisition & Construction Fund

made:

REǪ. #8 SUBTOTAL:  $877,0GG.71

Check payable to:

Number of Invoices

Invoices Date Range

Invoice Date

CDD Amt. Due

FERGUSON US HOLDINGS INC

5

6/10/2026 to 6/26/2026

$296,443.38

ǪUALITY PRECAST SOLUTIONS LLC

12

6/04/2026 to 6/26/2026

$166,821.11

FOLEY PRODUCTS COMPANY

23

6/09/2026 to 6/25/2026

$180,879.22

Check payable to: (Separate Checks)

Invoice Number

Invoice Date

CDD Amt. Due

JENSEN UNDERGROUND UTIL INC

Draw 1 / Utility & Drainage

5/25/2026

$232,956.00

The undersigned hereby certifies that:

obligations in the stated amount set forth above have been incurred by the District, that each disbursement set forth above is a proper charge against the Series 2026 Acquisition and Construction Account referenced above, that each disbursement set forth above was incurred in connection with the acquisition and/or construction of the Series 2026 Project and each represents a Cost of the Series 2026 Project that has not previously been paid out of such Account;
OR

this requisition is for costs of issuance payable from the Series 2026 Costs of Issuance Account that has not previously been paid out of such Account.

The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the moneys payable to the Payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.

(Rest of Page left intentionally blank)

FORM OF REQUISITION FOR SERIES 2026 PROJECT
The undersigned, an Authorized Officer of Brightshore Community Development District (the "District") hereby submits the following requisition for disbursement under and pursuant to the terms of the Master Trust Indenture between the District and U.S. Bank Trust Company, National Association, Orlando, Florida, as trustee (the "Trustee"), dated as of March 1, 2026 (the "Master Indenture"), as supplemented by the First Supplemental Trust Indenture between the District and the Trustee, dated as of March 1, 2026 (the "Supplemental Indenture" and together with the Master Indenture, the "Indenture") (all capitalized terms used herein shall have the meaning ascribed to such term in the Indenture):

(A)
(B)

Requisition Number: 9

Name of Payees:

Quality Precast Solutions Foley Products Company South Florida Excavation, Inc. Peninsula Improvement Corp.

(C)

Amount Payable: $602,550.06 Broken Down as follows:

(D)

Purpose for which paid or incurred (refer also to specific

contract if

amount is due and payable pursuant to a contract involving progress payments or state costs of issuance, if applicable): Not applicable.

(E)

Fund or Account and subaccount, if any, from which disbursement to be

made:  299303005  Brightshore CDD2026 Acquisition & Construction Fund

REǪUISITION #G SUBTOTAL:	$602,550.06

Check payable to:

Number of Invoices

Invoices Date Range

Invoice Date

CDD Amt. Due

ǪUALITY PRECAST SOLUTIONS

4

07/07/2026 to 07/13/2026

$40,215.100

FOLEY PRODUCTS COMPANY

18

06/29/2026 to 07/10/2026

$137,794.020

Check payable to: (Separate Checks)

Invoice Number

Invoice Date

CDD Amt. Due

SOUTH FLORIDA EXCAVATION, INC

DRAW 1/CDD RAB

4/21/2026

$187,095.60

SOUTH FLORIDA EXCAVATION, INC

DRAW 3/CDD PHASE 1

5/20/2026

$236,195.34

PENINSULA IMPROVEMENT CORP.

GC-0004437

6/29/2026

$1,250.00

TOTAL:

$424,540.G4

The undersigned hereby certifies that:

obligations in the stated amount set forth above have been incurred by the District, that each disbursement set forth above is a proper charge against the Series 2026 Acquisition and Construction Account referenced above, that each disbursement set forth above was incurred in connection with the acquisition and/or construction of the Series 2026 Project and each represents a Cost of the Series 2026 Project that has not previously been paid out of such Account;
OR

this requisition is for costs of issuance payable from the Series 2026 Costs of Issuance Account that has not previously been paid out of such Account.

The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the moneys payable to the Payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.

(Rest of Page left intentionally blank)

Brightshore Community Development District

Financing Matters

Review and Acceptance of June Monthly Financials

Brightshore CDD
June 2026 Financial Report

June 30, 2026

PFM Management Services LLC
3501 Quadrangle Blvd., Suite 270
Orlando, Florida 32817
Tel: 407-723-5900

Brightshore CDD
Statement of Financial Position As of 6/30/2026

Capital Projects Fund

Long Term Debt Group

General Fund

Debt Service Fund

Total

Assets

Current Assets
General Checking Account Due From Other Funds Dividends Receivable
Series 2026 Debt Service Reserve Series 2026 Revenue
Series 2026 Capitalized Interest Dividends Receivable
Series 2026 Acquisition/Construction Series 2026 Cost of Issuance Bond
Total Current Assets

$98,349.59
20,848.37

$98,349.59 20,848.37
11,389.32
1,176,841.25
38.68
2,786,793.43
58,550.05
19,639,045.59
4,747.68

$11,389.32 1,176,841.25
38.68
2,786,793.43

58,550.05
19,639,045.59
4,747.68

$119,197.96

$3,975,062.68

$19,702,343.32

$0.00

$23,796,603.96

Investments
Amount Available in Debt Service Funds Amount To Be Provided
Total Investments

$3,963,673.36
30,496,326.64

$3,963,673.36
30,496,326.64

$0.00

$0.00

$0.00

$34,460,000.00

$34,460,000.00

$119,197.96

$3,975,062.68

$19,702,343.32

$34,460,000.00

$58,256,603.96

Total Assets

Liabilities and Net Assets

Current Liabilities Accounts Payable Deferred Revenue Retainage Payable Due To Other Funds
Total Current Liabilities

$1,000.00
396.00

$1,000.00 396.00
18,061.11
20,848.37

$18,061.11
20,848.37

$1,396.00

$0.00

$38,909.48

$0.00

$40,305.48

Long Term Liabilities
Revenue Bonds Payable - Long-Term
Total Long Term Liabilities

$34,460,000.00

$34,460,000.00

$0.00

$0.00

$0.00

$34,460,000.00

$34,460,000.00

Total Liabilities

$1,396.00

$0.00

$38,909.48

$34,460,000.00

$34,500,305.48

Net Assets
Net Assets - General Government
Current Year Net Assets - General Government

$39,075.94
78,726.02

$39,075.94
78,726.02

$0.00
3,975,062.68

$0.00
$3,975,062.68

Current Year Net Assets, Unrestricted

Net Assets, Unrestricted
Current Year Net Assets, Unrestricted

$9,608.45
19,653,825.39

$9,608.45
19,653,825.39

Total Net Assets

$117,801.96

$3,975,062.68

$19,663,433.84

$0.00

$23,756,298.48

Total Liabilities and Net Assets

$119,197.96

$3,975,062.68

$19,702,343.32

$34,460,000.00

$58,256,603.96

Page 1 of 3

Brightshore CDD Statement of Activities As of 6/30/2026

Capital Projects Fund

Long Term Debt Group

General Fund

Debt Service Fund

Total

Revenues

Developer Contributions
Inter-Fund Group Transfers In Debt Proceeds
Inter-Fund Transfers In Debt Proceeds
Total Revenues

$151,475.00
29.57

$151,475.00 52,068.15
4,940,505.92
(52,068.15)
29,519,494.08

$52,038.58
4,940,505.92

($52,068.15)
29,519,494.08

$151,504.57

$4,992,544.50

$29,467,425.93

$0.00

$34,611,475.00

Expenses

Public Officials Liability Insurance Management
Engineering District Counsel
Assessment Administration Professional Services, Accounting Legal Advertising
Miscellaneous
Web Site Maintenance Dues, Licenses, and Fees General Liability Insurance
Interest Payments - Series 2026 Other Debt Service Costs Trustee Services
Management Engineering District Counsel Trustee Counsel Bond Counsel
Assessment Administration Bank Fees
Other Debt Service Costs Capital Expenditures
Total Expenses

$3,032.00 33,250.00
10,580.00
14,209.80
1,000.00
4,635.00
1,384.69
232.06
1,800.00
175.00
2,480.00

$3,032.00 33,250.00
10,580.00
14,209.80
1,000.00
4,635.00
1,384.69
232.06
1,800.00
175.00
2,480.00
255,054.17
806,025.50
6,750.00
10,000.00
29,088.75
65,813.50
6,500.00
45,000.00
15,000.00
160.00
2,500.00
9,909,953.03

$255,054.17
806,025.50

$6,750.00 10,000.00
29,088.75
65,813.50
6,500.00
45,000.00
15,000.00
160.00
2,500.00
9,909,953.03

$72,778.55

$1,061,079.67

$10,090,765.28

$0.00

$11,224,623.50

Other Revenues (Expenses) & Gains (Losses)

Dividend Income Dividend Income
Total Other Revenues (Expenses) & Gains (Losses)

$43,597.85

$43,597.85
277,164.74

$277,164.74

$0.00

$43,597.85

$277,164.74

$0.00

$320,762.59

Change In Net Assets

$78,726.02

$3,975,062.68

$19,653,825.39

$0.00

$23,707,614.09

Net Assets At Beginning Of Year

$39,075.94

$0.00

$9,608.45

$0.00

$48,684.39

$117,801.96

$3,975,062.68

$19,663,433.84

$0.00

$23,756,298.48

Net Assets At End Of Year

Page 2 of 3

Brightshore CDD
Budget to Actual
For the Month Ending 06/30/2026

FY 2026 Adopted Budget

YTD Actual

YTD Budget

YTD Variance

Percentage Spent

Revenues
Developer Contributions
Net Revenues

$

151,475.00

$

113,606.25

$

37,868.75

$

151,475.00

100.00%

$

151,475.00

$

113,606.25

$

37,868.75

$

151,475.00

100.00%

General & Administrative Expenses Public Officials' Liability Insurance Management
Engineering
District Counsel Assessment Administration
Professional Services, Accounting Audit
Legal Advertising Miscellaneous
Web Site Maintenance Dues, Licenses, and Fees General Insurance
Total General & Administrative Expenses

$

3,032.00
33,250.00
10,580.00
14,209.80
1,000.00
4,635.00
- 1,384.69
232.06
1,800.00
175.00
2,480.00

$

2,625.00
31,500.00
15,000.00
30,000.00
13,875.00
4,500.00
5,250.00
5,625.00
375.00
2,250.00
131.25
2,475.00

$

407.00
1,750.00
(4,420.00)
(15,790.20)
(12,875.00)
135.00
(5,250.00)
(4,240.31)
(142.94)
(450.00)
43.75
5.00

$

3,500.00
42,000.00
20,000.00
40,000.00
18,500.00
6,000.00
7,000.00
7,500.00
500.00
3,000.00
175.00
3,300.00

86.63%
79.17%
52.90%
35.52%
5.41%
77.25%
0.00%
18.46%
46.41%
60.00%
100.00%
75.15%

$

72,778.55

$

113,606.25

$

(40,827.70)

$

151,475.00

48.05%

Total Expenses

 $	72,778.55 

 $	113,606.25 

 $	(40,827.70)

 $	151,475.00 

	48.05%

Income (Loss) from Operations

$

78,696.45

$

-

$

78,696.45

$

-

Other Income (Expense)
Interest Income
Total Other Income (Expense)

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Net Income (Loss)

$

78,696.45

$

-

$

78,696.45

$

-

Page 3 of 3