1 00:00:02,290 --> 00:00:30,610 Oh, there we go. I was waiting for the notification already. Well, welcome to today's combined special meeting for Firefly Public Infrastructure District numbers one through ten, taking place on Tuesday, March 17th, 2026 at 1 p.m., Mountain Standard Time, at Blackwood Advisors, LLC, 2265, Murray Holiday Road, Suite 107, Holiday Utah, 84117. 2 00:00:30,610 --> 00:00:35,430 We have included a Teams meeting link for those who are joining virtually. 3 00:00:35,910 --> 00:00:41,110 We also have Andrea in the physical office for any members of the public or board 4 00:00:41,110 --> 00:00:43,210 that may have wanted to attend in person. 5 00:00:44,010 --> 00:00:49,090 And since this is a public hearing, we have posted the notice and agenda 6 00:00:49,090 --> 00:00:54,810 over seven days in advance of this meeting, both on the Blackwood Advisors Office 7 00:00:54,810 --> 00:00:57,130 as well as the posting website. 8 00:00:57,990 --> 00:01:08,850 So, first, if I can ask for a call to order, the meeting has started at 1.05 p.m. Mountain Standard Time, and let's get a roll call of everyone here. 9 00:01:09,470 --> 00:01:12,150 My name is Jacqueline Kling with Blackwood Advisors. 10 00:01:16,100 --> 00:01:18,000 My name is Brian Flam, I'm a board member. 11 00:01:20,900 --> 00:01:23,340 My name is Nate Ship, I'm a board member. 12 00:01:25,610 --> 00:01:26,810 Tom Jolly District Council. 13 00:01:26,810 --> 00:01:31,060 and guest blackwood advisor. 14 00:01:31,500 --> 00:01:31,700 Sorry. 15 00:01:32,960 --> 00:01:34,100 Go ahead, ma'am. 16 00:01:34,400 --> 00:01:35,980 Pam gives blackwood advisors. 17 00:01:37,160 --> 00:01:40,880 And Lauren Warburton with CLA District Accountants. 18 00:01:41,040 --> 00:01:43,000 Shannon Baudard, Tom Zolli's Paralegal. 19 00:01:44,060 --> 00:01:46,340 Darcy Stevens with Gilmore Bell, Bond Council. 20 00:01:50,390 --> 00:01:53,970 Andrea Ashdown, blackwood advisors here in the Utah office. 21 00:01:56,190 --> 00:01:56,650 Perfect. 22 00:01:57,110 --> 00:01:57,570 Thank you. 23 00:01:57,770 --> 00:02:01,450 And then we can move to the preliminary action items 24 00:02:01,450 --> 00:02:07,530 to consider a combined board meeting for Firefly Public Infrastructure District numbers 1 through 10. 25 00:02:08,010 --> 00:02:10,710 Do I have a motion to combine the meeting today? 26 00:02:12,070 --> 00:02:17,610 This is nature if I still move to this Brian Flam, I'll second it. 27 00:02:18,470 --> 00:02:20,430 Also an all in favor vote all right? 28 00:02:21,090 --> 00:02:21,450 All right. 29 00:02:23,700 --> 00:02:23,880 All right. 30 00:02:24,400 --> 00:02:25,000 Perfect. 31 00:02:25,340 --> 00:02:25,800 Thank you. 32 00:02:26,280 --> 00:02:31,560 And then moving to the consent items, we will approve the draft minutes of the Firefly Public 33 00:02:31,560 --> 00:02:37,160 infrastructure district numbers one through 10 board meeting that was held on January 16th, 34 00:02:37,160 --> 00:02:44,320 2026. You guys should have received this over the weekend. Did you have a chance to review? Do you 35 00:02:44,320 --> 00:02:49,180 have any questions or updates before we approve and send for signature? 36 00:02:52,090 --> 00:02:53,050 No questions from me. 37 00:02:53,810 --> 00:02:59,650 No. Okay. Do I have a motion to approve the minutes from the last board meeting? 38 00:03:01,450 --> 00:03:09,870 This is made. I still move. Second. Perfect. Thank you. Next we will approve and ratify payment 39 00:03:09,870 --> 00:03:16,510 applications and requisition requests made since the last board meeting. There was one requisition 40 00:03:16,510 --> 00:03:26,850 number 28 for the amount of $43,062.85. Were there any questions or comments or do I have a motion 41 00:03:26,850 --> 00:03:28,610 to approve this requisition. 42 00:03:31,360 --> 00:03:34,140 No comments, your questions. I still move to approve. 43 00:03:35,100 --> 00:03:39,980 So I'll second the motion. Perfect. Sorry. I need to say all in favor vote aye. 44 00:03:40,860 --> 00:03:50,160 Hi. Hi. Perfect. Thank you. Next we will move to a public hearing. Do I have a motion to open 45 00:03:50,160 --> 00:03:56,060 the public hearing? The motion to open the public hearing. Perfect. Second. 46 00:03:56,060 --> 00:03:58,140 And all in favor? 47 00:03:58,800 --> 00:03:59,180 All right. 48 00:03:59,760 --> 00:04:00,540 Thank you. 49 00:04:01,000 --> 00:04:04,420 And this public hearing is to take public comment on the 50 00:04:04,420 --> 00:04:08,800 tentative amended 2025 operating and capital budget for 51 00:04:08,800 --> 00:04:11,760 fire, philanthropic, and public infrastructure district number one 52 00:04:11,760 --> 00:04:17,420 adopted on January 16, 2026, which is proposed to be adopted 53 00:04:17,420 --> 00:04:21,280 as the amended final in operating capital budget for a 54 00:04:21,280 --> 00:04:22,660 calendar year of 2025. 55 00:04:23,240 --> 00:04:26,560 And I will let Lauren go over these budget amendments. 56 00:04:27,180 --> 00:04:31,500 Did you want me to share my screen or would you like to take control of it? 57 00:04:32,720 --> 00:04:35,100 Yeah, go ahead and just scroll down. 58 00:04:36,040 --> 00:04:40,120 And we can discuss here. That's perfect. Thank you. 59 00:04:40,600 --> 00:04:40,740 Yeah. 60 00:04:41,360 --> 00:04:46,280 So board, I don't think any additional changes have been made sense. 61 00:04:46,280 --> 00:04:51,420 You've seen in January, but just to kind of recap here. 62 00:04:51,420 --> 00:04:58,160 For 2025, expenses did come in just a little bit higher than we had originally anticipated 63 00:04:58,160 --> 00:05:00,720 for a few line items. 64 00:05:01,880 --> 00:05:08,420 So here in the debt service fund, originally we had had just over 3.9 million in the 65 00:05:08,420 --> 00:05:09,620 total worth expenditures. 66 00:05:10,820 --> 00:05:17,100 We are amending that to just over 7.4 million for that last line there, the bond principle. 67 00:05:17,920 --> 00:05:26,300 and this relates to the prepayments on the bonds that require that mandatory 68 00:05:26,300 --> 00:05:34,600 reduction on related to those payments. Everything else was in line there, but 69 00:05:34,600 --> 00:05:40,140 just wanted to make a note of that last line item. Are there any questions on the 70 00:05:40,140 --> 00:05:43,120 amendment, I guess, for the debt service fund first? 71 00:05:46,000 --> 00:05:46,860 I don't have any questions. 72 00:05:49,440 --> 00:05:56,620 And the other proposed amendments to the general fund, originally total expenditures 73 00:05:56,620 --> 00:06:04,020 were set at 75,000 and we did increase that to 100,000 primarily for the district management 74 00:06:04,020 --> 00:06:11,200 costs, going from 21,000 up to 50,000 and Pam might be able to speak a little bit better 75 00:06:11,200 --> 00:06:16,640 to this, but I believe it's mostly related to the assessment administration and the work 76 00:06:16,640 --> 00:06:24,260 that went into that. Certainly, like, as their panel just that, yeah, when we originally submitted, 77 00:06:24,260 --> 00:06:30,800 we were doing the assessment role, which I think we quoted at about 28,000, then we picked up 78 00:06:30,800 --> 00:06:37,880 the district management part of that from Tom's group. He had been doing that in the past. And so 79 00:06:37,880 --> 00:06:45,620 that added to the budget part of that is just a shift from legal into district management. So you'll 80 00:06:45,620 --> 00:06:53,740 start to see legal go down over time unless specific things pop up and we'll be taking over that. 81 00:06:53,900 --> 00:06:59,740 So it was just really a largely a shift of roles. The other thing that I will point out is we did 82 00:06:59,740 --> 00:07:05,460 wind up spending more time than we had originally anticipated trying to straighten out the Utah County 83 00:07:06,740 --> 00:07:13,380 mess when they didn't accurately reflect the imposition of the district on all of the lots. 84 00:07:13,380 --> 00:07:18,640 So, that's not anticipated to continue in the future. 85 00:07:19,700 --> 00:07:20,860 Yeah, makes sense. 86 00:07:24,570 --> 00:07:24,950 Perfect. 87 00:07:25,910 --> 00:07:29,930 And I don't want you to add there unless there are additional questions. 88 00:07:37,520 --> 00:07:38,520 I don't have any additional questions. 89 00:07:42,360 --> 00:07:42,560 Okay. 90 00:07:43,140 --> 00:07:43,960 All right. 91 00:07:44,120 --> 00:07:47,300 Do I have a motion to close the public hearing at this time? 92 00:07:48,880 --> 00:07:49,900 I so move. 93 00:07:50,920 --> 00:07:52,000 I'll second it. 94 00:07:52,540 --> 00:07:53,480 All in favor? 95 00:07:54,160 --> 00:07:54,440 Hi. 96 00:07:54,780 --> 00:07:55,280 Hi. 97 00:07:55,280 --> 00:08:01,820 Thank you. And then moving into our action items, which would be consider adoption of this resolution 98 00:08:01,820 --> 00:08:08,620 2026-02, a resolution adopting the amended final operating capital budget for calendar year, 99 00:08:08,780 --> 00:08:14,760 2025, four or five five public infrastructure district number one. As shared by Lauren, 100 00:08:15,320 --> 00:08:18,580 do I have a motion to adopt this resolution? 101 00:08:21,620 --> 00:08:23,780 This is made, I move to adopt. 102 00:08:25,160 --> 00:08:26,800 So Brian, I second it. 103 00:08:27,640 --> 00:08:28,300 All in favor? 104 00:08:29,880 --> 00:08:30,560 Hi. 105 00:08:30,900 --> 00:08:32,500 Thank you. 106 00:08:33,160 --> 00:08:40,360 And next, we will consider adoption of Resolution 2026-03, a resolution authorizing the execution 107 00:08:40,360 --> 00:08:47,960 of a 6th amendment to assessment ordinance for the Firefly Assessment Area No. 1, authorizing 108 00:08:47,960 --> 00:08:53,700 the taking of all other actions necessary to the consummation of the transactions contemplated 109 00:08:53,700 --> 00:09:00,400 by this resolution and related matters and I will let Darcy go over this six amendment 110 00:09:00,400 --> 00:09:04,960 to assessment ordinance. Would you like me to pull it up for you or would you like to 111 00:09:04,960 --> 00:09:09,880 share your screen and go through it? Hi, if you could pull it up that would be great. 112 00:09:10,320 --> 00:09:14,080 Sure. This is Darcy Stevens with Gilmore Bell, Bond Council. 113 00:09:15,240 --> 00:09:18,460 Thanks, Jacqueline. So what you have before you is a resolution. 114 00:09:19,900 --> 00:09:21,600 Well, this is actually the sixth amendment. 115 00:09:21,800 --> 00:09:24,200 The resolution approves the execution by the board 116 00:09:24,200 --> 00:09:26,680 of this sixth amendment to assessment ordinance. 117 00:09:27,420 --> 00:09:31,340 If you scroll a couple pages, 118 00:09:31,800 --> 00:09:36,180 the purpose of this amendment 119 00:09:36,180 --> 00:09:38,480 is to authorize a reallocation of assessments 120 00:09:38,480 --> 00:09:39,100 right there as good. 121 00:09:39,200 --> 00:09:42,500 Exhibit A has the new reallocation of assessments 122 00:09:42,500 --> 00:09:46,560 which are being made by this sixth amendment 123 00:09:46,560 --> 00:09:55,760 assessment ordinance. If you scroll to exhibit B, that will show actually B is the certificate 124 00:09:55,760 --> 00:10:00,300 of owner of the consent to these changes. Exhibit C is the parcels that are being released. 125 00:10:00,620 --> 00:10:05,660 These are parcels that have been paid off and they would be released from their assessment. 126 00:10:06,120 --> 00:10:13,520 And then exhibit D would be our new assessment list after the reallocation and release of these 127 00:10:13,520 --> 00:10:20,300 parcels. So it's pretty straightforward. And the resolution itself authorizes the execution 128 00:10:20,300 --> 00:10:27,160 of this assessment amendment and substantially this form. And I'm happy to answer any questions. 129 00:10:31,340 --> 00:10:34,040 That's great. It makes sense to me. Yeah, I'll have any questions. 130 00:10:35,700 --> 00:10:41,200 Great. Thank you. Actually, I did have one question, not in relation to your preparation, but I know 131 00:10:41,200 --> 00:10:52,120 Nate, at one point you talked about re-addressing the pay-off amounts on the larger lots, but was that 132 00:10:52,120 --> 00:10:58,120 addressed here? Is that still kicked down the road? Let me check down the roads. Okay, that's it. 133 00:11:01,320 --> 00:11:01,640 Awesome. 134 00:11:01,980 --> 00:11:07,360 Thank you, Darcy, for going over that. Do I have a motion to adopt this resolution? 135 00:11:10,740 --> 00:11:12,400 I still move. It's adopted. 136 00:11:12,400 --> 00:11:20,120 Thank you. I like that Nate I'll second it. All in favor vote aye. 137 00:11:20,800 --> 00:11:29,520 Hi. Awesome. Thank you. Next we can move into any administrative non-action items where we 138 00:11:29,520 --> 00:11:35,020 can have a discussion with the board members of any public infrastructure district business. 139 00:11:35,540 --> 00:11:41,300 I have one comment for the board if I could get your help with posting the third and fifth 140 00:11:41,300 --> 00:11:48,880 assessment ordinances. I did reach out to Jen Owen. I've just not heard back, but we do need those 141 00:11:48,880 --> 00:11:56,540 posted on the district or within the district's boundaries for 21 days. Would one of you be able to 142 00:11:57,140 --> 00:11:59,940 help us with that posting? When did you reach out to Jen? 143 00:12:01,960 --> 00:12:04,700 It was a couple weeks ago, but I followed 144 00:12:04,700 --> 00:12:14,600 up a few times since. I'll go find out what's going on. Perfect. And the six will need to get 145 00:12:14,600 --> 00:12:21,400 posted as well once we get signatures and we'll compile a PDF copy so they'll be a third one coming. 146 00:12:22,780 --> 00:12:29,500 And then if you guys can, when you have her post or whomever post, if you all can take a picture of 147 00:12:29,500 --> 00:12:35,180 that and email it to us or or however you want to get it to us just so we have some record 148 00:12:35,180 --> 00:12:40,120 in our files that it's been done. I don't anticipate anybody challenging it, but it just 149 00:12:40,120 --> 00:12:45,800 helps us for record keeping. Sure. Great. 150 00:12:49,300 --> 00:12:53,100 Any other items we would like to discuss during 151 00:12:53,100 --> 00:12:54,020 the official meeting? 152 00:12:58,060 --> 00:13:02,160 I don't have anything else. Okay. Do I have a motion to ensure? I have 153 00:13:02,160 --> 00:13:07,220 one quick question. Lauren, I know you guys are working on a bunch of stuff. Is there anything that 154 00:13:07,220 --> 00:13:18,460 you're going to be needing from them in order to, you know, finish the audit or any other things 155 00:13:18,460 --> 00:13:24,720 that you're working on, just taking the opportunity. But now that we've got everybody's attention, are you 156 00:13:24,720 --> 00:13:31,060 good to go? Yeah, I think we are good to go. There's nothing on my list that we're needing. Perfect. 157 00:13:31,060 --> 00:13:35,460 And then as far as the audit goes, I can give a little bit of an update there. 158 00:13:36,260 --> 00:13:42,800 The 2025 audit is in progress and the auditors let us know that field work, field work should 159 00:13:42,800 --> 00:13:46,180 be starting sometime between now and the end of this month. 160 00:13:47,380 --> 00:13:51,240 And then they are projecting a four week turnaround this year. 161 00:13:51,480 --> 00:13:54,780 So we're repeating much shorter turnaround time, which will be great. 162 00:13:55,680 --> 00:13:56,160 Perfect. 163 00:13:56,600 --> 00:13:56,880 Okay. 164 00:13:57,420 --> 00:13:57,800 Awesome. 165 00:13:58,240 --> 00:13:59,300 Thank you very much. 166 00:13:59,480 --> 00:14:00,100 Appreciate it. 167 00:14:00,100 --> 00:14:00,380 Perfect. 168 00:14:01,640 --> 00:14:06,540 Well, if there is nothing else, do I have a motion to adjourn the meeting today? 169 00:14:08,060 --> 00:14:10,960 This is made, I shall move, time to be done. 170 00:14:11,760 --> 00:14:13,240 Let's do it all second at night. 171 00:14:13,860 --> 00:14:14,420 Perfect. 172 00:14:14,740 --> 00:14:15,440 All in favor? 173 00:14:16,240 --> 00:14:16,840 Hi. 174 00:14:17,240 --> 00:14:17,340 Hi. 175 00:14:18,380 --> 00:14:18,860 Perfect. 176 00:14:19,140 --> 00:14:23,160 Meeting adjourned at 1.19 p.m. mountain standard time. 177 00:14:25,330 --> 00:14:26,070 Thanks, everybody. 178 00:14:26,450 --> 00:14:27,770 Everybody have a great day. 179 00:14:28,110 --> 00:14:28,570 Thank you. 180 00:14:33,510 --> 00:14:40,090 I didn't check that everyone's green next time I wore a green I was waiting for Jared to be here but