REMINGTON

COMMUNITY DEVELOPMENT DISTRICT

Disclosure of Public Financing and Maintenance of Improvements to Real Property Undertaken by the Remington Community Development District

Revised 10-22-07

Board of Supervisors

Remington
Community Development District

Brian Brown

Chairperson

Joseph Volpe

Vice Chairman

Joseph Czarkowski

Supervisor

M. Ronald Sisemore

Supervisor

Vacant

Assistant Secretary

George S. Flint

District Manager

Governmental Management Services-Central Florida, LLC.
201 East Pine Street, Suite 950

Orlando, FL 32801

(407) 841-5524

District records are on file at the District Office and the Remington CDD Office, Kissimmee, Florida, and are available for public inspection upon request during normal business hours.

TABLE OF CONTENTS

Introduction	4

What is the Remington Community Development District and how is it governed?	5

What infrastructure improvements does the District provide?	5

Wastewater, Water & Stormwater Facilities	6

Roadways	6

Security & Recreation Facilities	6

Bonds, Assessments, Fees, and Charges	6

Method of Collection	7

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INTRODUCTION

On behalf of the Board of Supervisors of the Remington Community Development District, the following information is provided to give you a description of the District's services, the assessments, fees and charges that have been levied within the District to pay for certain community infrastructure, and the manner in which the District is operated. The Remington Community Development District is a unit of special-purpose local government created pursuant to and existing under the provisions of Chapter 190, Florida Statutes. The District provides facilities and community services, which would otherwise be the responsibility of the private sector, a homeowners association, or another unit of local government. Unlike city and county governments, the District has only certain limited powers and responsibilities. Pursuant to statute, these powers and responsibilities include construction, operation and/or maintenance of certain types of infrastructure, which may include roads and streetlights, water management and drainage control facilities, bridges, culverts, parks and recreational facilities.

The District is here to serve the needs of the community and we encourage your participation in District activities.

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DISCLOSURE OF PUBLIC FINANCING AND MAINTENANCE OF IMPROVEMENTS TO REAL PROPERTY UNDERTAKEN BY THE REMINGTON COMMUNITY DEVELOPMENT DISTRICT

Under Florida law, community development districts are required to take affirmative steps to provide for the full disclosure of information relating to the public financing and maintenance of improvements to real property undertaken by such districts. The law specifically provides that this information shall be made available to all persons currently residing within the District and to all prospective District residents. The following information describing the Remington Community Development District and the assessments, fees and charges that have been levied within the District to pay for certain community infrastructure is provided to fulfill this statutory requirement.

What is the District and how is it governed?

The District is an independent unit of special-purpose local government established in 1994 by Ordinance No. 94-2 adopted by the Osceola County Board of County Commissioners. The District was created pursuant to and exists under the provisions of 190, Florida Statutes. The District encompasses approximately 734 acres of land in Osceola County, Florida approximately twenty (20) miles southeast of downtown Orlando. The District provides an alternative means for planning, financing, constructing, operating, and maintaining various public improvements and community facilities within its jurisdiction.

The District is government by a five-member Board of Supervisors, the members of which must be qualified electors. A “qualified elector” in this instance is any person at least 18 years of age who is a citizen on the United States, a legal resident of Florida and of the District, and who is also registered with the Supervisor of Elections to vote in Osceola County. There will be three seats on the Board of Supervisors up for election in 2008.

Board meetings are noticed in the Orlando Sentinel and are conducted in a public forum in which public participation is invited. Consistent with Florida’s public record laws, the records of the District are available for public inspection during normal business hours. Elected members of the Board are similarly bound by the State’s open meetings law and are subject to the same disclosure requirements as other elected officials under the State’s ethics laws.

What infrastructure improvements does the District provide?

The District is currently comprised of approximately 734 gross acres located entirely within Osceola County, Florida. The public infrastructure funded by the District is necessary to support the District’s development program, which includes, but is not limited to: water management system, roadway improvements, utility improvements, and other related public infrastructure. Each of these infrastructure improvements is more fully detailed below.

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Wastewater, Water & Stormwater Facilities

To provide for central wastewater, potable water, and re-use water systems for every residential unit, the District constructed a master utility system. The construction of off -site facilities was required to connect to the existing City of Kissimmee utility facilities. The construction included on-site lift stations and forcemains, along with the gravity sewer collection system. In addition, construction of the potable water distribution system included various sized water mains along with fire hydrants to conform to Osceola County standards. Adequate irrigation was provided through the construction of various sized re-use mains. All utility systems were designed in accordance with the City of Kissimmee, Osceola County, and the Florida Department of Environmental Protection.

The District also constructed facilities to accept the re-use of 100% of the District’s generated sewer flows. This was accommodated by the construction of an Effluent Disposal Facility. This facility was created by clearing, grading, irrigating and grassing approximately 140 acres, plus the construction of an off-site re-use main to provide a connection to the on-site re-use mains throughout the District. This ensured that re-use water was available to every residential unit.

The District constructed a series of lakes, interconnected culverts and discharge control structures, in addition to the on-site preserved wetlands, to create the master stormwater management facilities for the district. The facilities were built to conform to the Osceola County and South Florida Water Management District (SFWMD) criteria for pre-development versus post-development runoff attenuation and water quality treatment.

The District was also required to minimize the impact to wetlands. Mitigation for the impacts included on-site wetland restoration, undisturbed wetland buffers and the creation of additional on-site wetlands. The mitigation plan was reviewed and approved by SFWMD, the Florida Department of Environmental Protection, and the U.S. Army Corp of Engineers.

Roadways

The District constructed the roadway network within the CDD. This work consisted of clearing the right-of-way, earthwork and grading, installation of the required underground utilities, and storm drainage, construction of the roadway subbase, base, asphalt, curbing and pedestrian/bikeways . The roads constructed were designed to provide the required levels of traffic service to all users within the District. All construction was completed to Osceola County standards. Street lighting and landscaping was constructed throughout the District to meet Osceola County standards.

Security and Recreation Facilities

The CDD constructed security facilities at both entrances of the CDD property. These facilities included a gate house facility and security walls. The District also constructed

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community recreation facilities. These are to be operated and owned by the District. These facilities include a pool and recreation center.

Bonds, Assessments, Fees, and Charges

The costs of infrastructure improvements were financed by the District through the sale of bonds. Remaining principal on the Bonds as of May 1, 2007 is as follows:

• CDD Infrastructure Improvement Bonds	$5,420,000	

Construction of the infrastructure improvements has been completed and there are no further requirements to issue debt.

The primary source of payment for the Infrastructure Improvement Bonds is the annual levy of benefit special assessments against lands within the District which benefit from the construction, acquisition, establishment, and operation of the District's infrastructure facilities. The bonds are secured equally and ratably being a first lien and pledge of benefit special assessments levied on the lands within the District.

All areas are assessed for the improvements based upon the average density of the proposed ultimate land uses. The cost of the Infrastructure Improvement Bonds assessment varies based on the time of the construction of the house. The annual Infrastructure Improvement Bond assessment ranges from $ 276.65 to $707. For specific information on the debt service for your particular lot, please see a past tax bill from the Osceola Tax Collectors office.

There is also an operations and maintenance assessment of $678.53 for Fiscal Year 2008. The funds received from this assessment are used to comply with all the required legislation as dictated in the Florida Statues. In addition, this is used to maintain all CDD responsibilities in the District. This includes lakes, canals, wetlands, roads, landscaping, and conservation areas.

Method of Collection

The District's benefit and maintenance assessments appear on that portion of the annual real estate tax bill entitled "non-ad valorem assessments," and will be collected by the County Tax Collector in the same manner as County and other ad valorem taxes. Each property owner must pay both County and other ad valorem taxes and District non-ad valorem assessments at the same time. Property owners will, however, be entitled to the same discounts as provided for ad valorem taxes. As with any tax bill, if all taxes and assessments due are not paid within the prescribed time limit, the tax collector is required to sell tax certificates which, if not timely redeemed, may result in the loss of title to the property.

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This description of the Remington Community Development District's operation, services and financing structure is intended to provide assistance to landowners and purchasers concerning the important role that the District plays in providing infrastructure improvements essential to the development of new communities. If you have questions or would simply like additional information about the District, please contact:

George S. Flint, District Manager

Governmental Management Services – Central Florida, LLC. Remington Community Development District

201 East Pine Street, Suite 950 Orlando, FL 32801

(407) 841-5524

Revised October 22, 2007.

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