KEYS COVE COMMUNITY DEVELOPMENT
DISTRICT

MIAMI-DADE COUNTY REGULAR BOARD MEETING APRIL 22, 2026
5:00 P.M.

Special District Services, Inc. 8785 SW 165th Avenue, Suite 200
Miami, FL 33193
www.keyscovecdd.org 786.347.2711 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA
KEYS COVE COMMUNITY DEVELOPMENT DISTRICT
Keys Cove Community Clubhouse 1455 SE 27th Street
Homestead, Florida 33035
REGULAR BOARD MEETING
April 22, 2026
5:00 p.m.

Call to Order
Proof of Publication	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public
Approval of Minutes
October 22, 2025 Regular Board Meeting Minutes	Page 3
New Business
Consider Resolution No. 2026-01 – Approving a Proposed Budget for FY 2026/2027	Page 7
Consider Approval of Billing Cochran Rate Adjustment Request	Page 14
Consider Approval of Stormwater Drainage System Maintenance, 5-year Certification, Phase 1, Location Map and Raptor Vac Systems Proposal	Page 16
Old Business
Administrative Matters
Financial Report	Page 19
District Counsel Report
Additional Board Member/Staff Comments
Announce the 2026 General Election and Candidate Qualifying Period – Noon, Monday, June 8, 2026, through Noon, Friday, June 12, 2026
Reminder of Statement of Financial Interests Disclosure 2025 Form 1, Filing Deadline: July 1, 2026
Adjourn

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AFFIDAVIT OF PUBLICATION

Account#	Order Number	Identification	Order PO	Cols	Depth	
57883	IPL0279680	Legal Ad - IPL0279680	Keys Cove COD - Fiscal Year
2025/2026	1.0	78.0L	

ATTENTION: Keys Cove Community Development District IP 2501A Burns Road
Palm Beach Gardens, FL 33410 larcher@sdsinc.org

PUBLISHED DAILY MIAMI-DADE-FLORIDA

STATE OF FLORIDA COUNTY OF MIAMI-DADE

KEYS COVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026 REGULAR MEETING SCHEDULE

Before the undersigned authority personally appeared, the under-signed, who on oath says that he/she is Custodian of Records of The The Miami Herald, a newspaper published in Miami Dade County, Flor-ida, that the attached was published on the publicly accessible website of The Miami Herald or by print In the issues and dates listed below.

NOTICE IS HEREBY GIVEN that the
Board of Supervisors of the Keys Cove Community Development District will hold Regular Meetings at 5:00 p.m. in the meeting room area of the Keys Cove Community Clubhouse located at 1455 SE 27th Street, Homestead, Florida 33035, on the following dates:
October 22, 2025
January 28, 2026
April 22, 2026
June 24, 2026
August 26, 2026
The purpose of the meetings is to con-duct any business coming before the Board. The meetings are open to the public and will be conducted in accor-dance with the provisions of Florida law. Copies of the Agendas for any of the meetings may be obtained from the District's website or by contacting the District Manager at 786-347-2711 Ext. 2011 and/or toll free at 1-877-737-4922 five (5) days prior to the date of the particular meeting.
From time to time one or two Super-visors may participate by telephone; therefore, at the location of these meetings there will be a speaker tele-phone present so that interested per-sons can attend the meetings at the above location and be fully informed of the discussions taking place either in person or by telephone communi-cation. Meetings may be continued as found necessary to a time and place specified on the record.
If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to insure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.
In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accom-mOOations or an interpreter to partic-

Affiant further Says that the said Miami Herald website or newspaper complies with all legal requirements for publication in chapter 50, Florida Statutes.

1.0 insertion(s) published on: 10/13/25 Print

Print Tearsheet Link

Marketplace Link

Amanda Rodela

s�	!l el/,ac�

Sworn to and subscribed before

ipate at any of these meetings should contact the District Manager at 786-347-2711 Ext. 2011 and/or toll free
at 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.
Meetings may be cancelled from time to time without advertised notice.

me on

Oct 13, 2025, 11:01 AM ED'

KEYS COVE COMMUNITY DEVELOPMENT DISTRICT
www.keyscovecdd.org IPL0279680
Oct 13 2025

Online Notary Public. This notarial act involved the use of online audio/video communication technology. Notarization facilitated by SIGNiX•
Page 1

KEYS COVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026 REGULAR MEETING SCHEDULE

NOTICE IS HEREBY GIVEN that the
Board of Supervisors of the Keys Cove Community Development District will hold Regular Meetings at 5:00 p.m. in the meeting room area of the Keys Cove Community Clubhouse located at 1455 SE 27th Street, Homestead, Florida 33035, on the following dates:
October 22, 2025
January 28, 2026
April 22, 2026
June 24, 2026
August 26, 2026
The purpose of the meetings is to con-duct any business coming before the Board. The meetings are open to the public and will be conducted in accor-dance with the provisions of Florida law. Copies of the Agendas for any of the meetings may be obtained from the District's website or by contacting the District Manager at 786-347-2711 Ext. 2011 and/or toll free at 1-877-737-4922 five (5) days prior to the date of the particular meeting.
From time to time one or two Super-visors may participate by telephone; therefore, at the location of these meetings there will be a speaker tele-phone present so that interested per-sons can attend the meetings at the above location and be fully informed of the discussions taking place either in person or by telephone communi-cation. Meetings may be continued as found necessary to a time and place specified on the record.

If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to insure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.

In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accom-modations or an interpreter to partic-ipate at any of these meetings should contact the District Manager at 786-347-2711 Ext. 2011 and/or toll free
at 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.
Meetings may be cancelled from time to time without advertised notice.

KEYS COVE COMMUNITY DEVELOPMENT DISTRICT
www.keyscovecdd.org IPL0279680
Oct 13 2025

KEYS COVE COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
OCTOBER 22, 2025

CALL TO ORDER

The October 22, 2025, Regular Board Meeting of the Keys Cove Community Development District (the “District”) was called to order at 5:00 p.m. in the Keys Cove Community Clubhouse located at 1455 SE 27th Street, Homestead, Florida 33035.

PROOF OF PUBLICATION

Proof of publication was presented that notice of the Regular Board Meeting had been published in the Miami Herald on October 13, 2025, as part of the District’s Fiscal Year 2025/2026 Regular Meeting Schedule, as legally required.

ESTABLISH A QUORUM

It was determined that the attendance of Chairman Carlos Cabezas and Supervisors Jeffrey Louis and Alex Allende constituted a quorum and it was in order to proceed with the meeting.

Staff in attendance included: District Manager Gloria Perez of Special District Services, Inc.; and General Counsel Ginger Wald of Billing, Cochran, Lyles, Mauro & Ramsey, P.A.

CONSIDER BOARD RESIGNATION

Mrs. Perez advised the Board that she received a letter of resignation from Kenneth Dwayne Bryant and presented the same in the meeting materials; noting the effective date of resignation would be the date on the letter of October 1, 2025.

A MOTION was made by Supervisor Louis, seconded by Supervisor Allende and unanimously passed accepting Kenneth Dwayne Bryant’s resignation from Seat No. 5, effective October 1, 2025, and simultaneously declaring a vacancy in Seat No. 5.

ELECTION OF OFFICERS

Mrs. Perez stated that it would now be in order to elect Officers of the District. She noted the roles of Armando Silva and Nancy Nguyen as Assistant Secretaries and herself as Secretary/Treasurer and further stated that nominations would be in order for Chairperson and Vice-Chair with the remaining Supervisors being designated as Assistant Secretaries.

A brief discussion ensued and the following slate of officers was nominated:
Chairperson – Carlos Cabezas
Vice Chairperson – Alex J. Allende
Assistant Secretary – Jeffery Louis
Assistant Secretary – Clarence McNish
Secretary/Treasurer – Gloria Perez
Assistant Secretaries – Armando Silva and Nancy Nguyen (District Managers with Special
District Services, Inc., in Mrs. Perez’s absence)

Page 1 of 4

A MOTION was made by Supervisor Louis, seconded by Supervisor Cabezas and unanimously passed electing the above slate of Officers, as nominated.

ADDITIONS OR DELETIONS TO AGENDA

There were no additions or deletions to the agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

There were no comments from the public for items not on the agenda.

APPROVAL OF MINUTES
1. May 28, 2025, Public Hearing & Regular Board Meeting

The minutes of the May 28, 2025, Public Hearing & Regular Board Meeting were presented, and the Board was asked if they had any comments or corrections.

There being no corrections, a MOTION was made by Supervisor Louis, seconded by Supervisor Allende and unanimously passed approving the minutes of the May 29, 2025, Public Hearing & Regular Board Meeting, as presented.

NEW BUSINESS
Consider Resolution No. 2025-05 - Adopting a Fiscal Year 2024/2025 Amended Budget

Mrs. Perez presented Resolution No. 2025-05, entitled:

RESOLUTION NO. 2025-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE KEYS COVE COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND ADOPTING AN AMENDED FINAL FISCAL YEAR 2024/2025 BUDGET (“AMENDED BUDGET”), PURSUANT TO CHAPTER 189, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

Mrs. Perez explained, as done every year for administrative and statutory requirements, within 60 days of any given fiscal year end, the Board adopts a revised/amended budget for said year. The fiscal year ended on September 30, 2025. This is the reason it is administrative in nature (past year’s budget for past year’s expenses) and will serve as the Board’s final approval/ratification of the District’s expenditures for the past fiscal year.

A MOTION was made by Supervisor Louis, seconded by Supervisor Allende and unanimously passed adopting Resolution No. 2025-05, adopting a Fiscal Year 2024/2025 Amended Budget, as presented.

Consider Resolution No. 2025-06 – Consider Interlocal Access Agreement for Local Government Publication of Legal Advertisements and Public Notices on County Designated Website and Authorizing Signatories
Mrs. Perez presented Resolution No. 2025-06, entitled:

Page 2 of 4

RESOLUTION 2025–06

A RESOLUTION OF THE KEYS COVE COMMUNITY DEVELOPMENT DISTRICT (THE "DISTRICT") RELATING TO THE INTERLOCAL ACCESS AGREEMENT FOR LOCAL GOVERNMENT PUBLICATION OF LEGAL ADVERTISEMENTS AND PUBLIC NOTICES ON COUNTY DESIGNATED WEBSITE; APPROVING SAME; PROVIDING FOR AUTHORIZED SIGNATORIES; AND PROVIDING FOR AN EFFECTIVE DATE

Mrs. Perez presented the Miami-Dade County Advertisement Interlocal Agreement and explained that the District is required to publish legal ads and the costs associated with them. She further added that due to the closing of the Miami Daily Business Review, the District has had to advertise in the Miami Herald. Mrs. Perez advised that a standard publication costs with the Miami Herald well in excess of the cost typically paid in the past.

This higher cost prompted Special District Services’ management team to seek an alternative for publications. Mrs. Perez stated that her office had been in communication with the Miami-Dade County (the “County”) Communications and it was determined that advertising on the County’s website was an option to consider which complies with Florida Statutes. This resulted in the County Attorney’s review and authorization of the District entering into an Interlocal Agreement with Community Development Districts. This is a great accomplishment that will save the District considerably on publication costs and will cost the District an estimated $707 annually. The ILA has been reviewed by District Counsel and has been deemed acceptable. Miami-Dade County is now requesting that the Board allocate authorized signers therefore District Counsel has prepared the presented resolution for the Board’s consideration.

A MOTION was made by Supervisor Louis, seconded by Supervisor Allende and unanimously passed adopting Resolution No. 2025-06, as presented.

Consider Resolution No. 2025-07 – Goals & Objectives Annual Report

Mrs. Perez presented Resolution No. 2025-07, entitled:

RESOLUTION 2025-07

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE KEYS COVE COMMUNITY DEVELOPMENT DISTRICT ADOPTING AN ANNUAL REPORT OF GOALS, OBJECTIVES, AND PERFORMANCE MEASURES AND STANDARDS; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

An overview of the Resolution Adopting Goals and Objectives was provided.

A MOTION was made by Supervisor Louis, seconded by Supervisor Allende and unanimously passed adopting Resolution No. 2025-07, as presented.

A brief discussion ensued followed by the following action.

Page 3 of 4

A MOTION was made by Supervisor Louis, seconded by Supervisor Allende and unanimously passed adopting the same Goals and Objectives presented as the Exhibit to Resolution No. 2025-07, for Fiscal Year 2025/2026

OLD BUSINESS
There were no Old Business items to come before the Board.

ADMINISTRATIVE MATTERS
1. Financial Update

Mrs. Perez presented the financials in the meeting book and briefly reviewed them with the Board, pointing out that available funds as of September 30, 2025, were $925,537.30.

A MOTION was made by Supervisor Louis, seconded by Supervisor Allende and passed unanimously ratifying and approving the financials, as presented.

DISTRICT COUNSEL REPORT
1. Legislative Update

Ms. Wald reviewed the 2025 Legislative Update Memorandum that was presented in the meeting material
and addressed the Board’s questions.

ADDITIONAL BOARD MEMBER/STAFF COMMENTS
1. Annual Ethics Requirement

Mrs. Perez reminded the Board that they are required to complete four (4) hours of ethics training annually and in order to comply with the 2025 Form 1, which is due by July 1, 2026, the hours must be completed no later than December 31, 2025. She further noted that links to two training sessions were available on the website.

Mrs. Perez advised the Board of observations that had been made by Field Operations Manager Galvis regarding damages to the pavement around the stormwater management system grates. The same was forwarded to the Association Manager and the District Engineer, noting that she had requested to have the engineer inspect the stormwater catch basin structures at those locations and to provide the Association Manager with specs to repair the damaged pavement.

ADJOURNMENT

There being no further business to come before the Board, a MOTION was made by Supervisor Cabezas, seconded by Supervisor Louis adjourning the Regular Board Meeting at 5:18 p.m. The MOTION carried unanimously.

ATTESTED BY:

Secretary/Assistant Secretary	Chairman/Vice-Chair

Page 4 of 4

RESOLUTION NO. 2026-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE KEYS COVE COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2026/2027; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (“Board”) of the Keys Cove Community Development District (“District”) is required by Chapter 190.008, Florida Statutes, to approve a Proposed Budget for each fiscal year; and,

WHEREAS, the Proposed Budget including the Assessments for Fiscal Year 2026/2027 has been prepared and considered by the Board.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE KEYS COVE COMMUNITY DEVELOPMENT DISTRICT THAT:

Section 1.  The Proposed Budget including the Assessments for Fiscal Year 2026/2027 attached hereto as Exhibit “A” is approved and adopted.

Section 2.   A Public Hearing is hereby scheduled for June 24, 2026 at 5:00 p.m.
in the Keys Cove Community Clubhouse, 1455 SE 27th Street, Homestead, Florida 33035, for the purpose of receiving public comments on the Proposed Fiscal Year 2026/2027 Budget.

PASSED, ADOPTED and EFFECTIVE this 22nd day of April, 2026.

ATTEST:	KEYS COVE
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairman/Vice Chairman

Keys Cove Community Development District

Proposed Budget For Fiscal Year 2026/2027
October 1, 2026 - September 30, 2027

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
KEYS COVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES	
FISCAL YEAR 2026/2027
BUDGET	
ADMINISTRATIVE ASSESSMENTS	95,997	
MAINTENANCE ASSESSMENTS	249,468	
DEBT ASSESSMENTS	613,370	
OTHER REVENUES	0	
INTEREST INCOME	2,100	
		
TOTAL REVENUES	$	960,935	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
MAINTENANCE CONTINGENCY	50,000	
STORM DRAINAGE MAINTENANCE	45,000	
ROADWAY RESURFACING PROJECT	85,000	
MAINTENANCE RESERVE	20,000	
FOUNTAIN MAINTENANCE/RESERVE	20,000	
HOLIDAY LIGHTING CONTRIBUTION	2,500	
ENGINEERING/INSPECTIONS	12,000	
LAKE RESTORATION PROJECT	0	
TOTAL MAINTENANCE EXPENDITURES	$	234,500	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	6,000	
EMPLOYER TAXES	480	
MANAGEMENT	37,032	
REIMBURSABLES (POSTAGE/OFFICE SUPPLIES)	900	
LEGAL	12,500	
ASSESSMENT ROLL	7,500	
AUDIT FEES	3,700	
ARBITRAGE REBATE FEE	650	
INSURANCE	11,000	
LEGAL ADVERTISING	2,650	
MISCELLANEOUS	2,900	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	4,500	
WEBSITE MANAGEMENT	2,000	
CONTINUING DISCLOSURE FEE	350	
		
TOTAL ADMINISTRATIVE EXPENDITURES	$	92,337	
		
TOTAL EXPENDITURES	$	326,837	
		
REVENUES LESS EXPENDITURES	$	634,098	
		
BOND PAYMENTS	(576,568)	
		
BALANCE	$	57,530	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(19,177)	
DISCOUNTS FOR EARLY PAYMENTS	(38,353)	
		
EXCESS/ (SHORTFALL)	$	-	
		
CARRYOVER FROM PRIOR YEAR	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
KEYS COVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES	

FISCAL YEAR 2024/2025
ACTUAL	

FISCAL YEAR 2025/2026
BUDGET	

FISCAL YEAR 2026/2027
BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	101,315	96,532	95,997	Expenditures Less Interest & Carryover (25%)/.94	
MAINTENANCE ASSESSMENTS	249,646	253,191	249,468	Expenditures Less Carryover (75%)/.94	
DEBT ASSESSMENTS	607,339	613,370	613,370	Bond Payments/.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	40,726	1,800	2,100	Interest Projected At $175 Per Month	
					
TOTAL REVENUES	$	999,026	$	964,893	$	960,935		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
MAINTENANCE CONTINGENCY	0	53,500	50,000	Maintenance Contingency	
STORM DRAINAGE MAINTENANCE	0	35,000	45,000	For Storm Drainage Maintenance Reserve	
ROADWAY RESURFACING PROJECT	0	85,000	85,000	Fourteen Year Project (Eighth Year)	
MAINTENANCE RESERVE	0	25,000	20,000	$5,000 Decrease From 2025/2026 Budget	
FOUNTAIN MAINTENANCE/RESERVE	975	25,000	20,000	$5,000 Decrease From 2025/2026 Budget	
HOLIDAY LIGHTING CONTRIBUTION	0	2,500	2,500	No Change From 2025/2026 Budget	
ENGINEERING/INSPECTIONS	4,563	12,000	12,000	No Change From 2025/2026 Budget	
LAKE RESTORATION PROJECT	35,014	0	0	Reserve For Lake Restoration Project As Of 3/31/26 Is $262,295	
TOTAL MAINTENANCE EXPENDITURES	$	40,552	$	238,000	$	234,500		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	1,800	6,000	6,000	No Change From 2025/2026 Budget	
EMPLOYER TAXES	212	480	480	Projected At 8% Of Supervisor Fees	
MANAGEMENT	35,052	36,060	37,032	CPI Adjustment	
REIMBURSABLES (POSTAGE/OFFICE SUPPLIES)	343	975	900	$75 Decrease From 2025/2026 Budget	
LEGAL	8,708	13,500	12,500	FY 25/26 Expenditure Through Feb 2026 Was $3,128	
ASSESSMENT ROLL	7,500	7,500	7,500	No Change From 2025/2026 Budget	
AUDIT FEES	3,500	3,600	3,700	Accepted Amount For 2025/2026 Audit	
ARBITRAGE REBATE FEE	650	650	650	No Change From 2025/2026 Budget	
INSURANCE	8,609	11,500	11,000	Fiscal Year 2025/2026 Expenditure Was $9,280	
LEGAL ADVERTISING	2,002	2,750	2,650	$100 Decrease From 2025/2026 Budget	
MISCELLANEOUS	2,809	2,500	2,900	$400 Increase From 2024/2025 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2025/2026 Budget	
TRUSTEE FEES	4,246	4,500	4,500	No Change From 2025/2026 Budget	
WEBSITE MANAGEMENT	2,000	2,000	2,000	No Change From 2025/2026 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2025/2026 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	77,956	$	92,540	$	92,337		
					
TOTAL EXPENDITURES	$	118,508	$	330,540	$	326,837		
					
REVENUES LESS EXPENDITURES	$	880,518	$	634,353	$	634,098		
					
BOND PAYMENTS	(582,210)	(576,568)	(576,568)	2027 Principal & Interest Payments	
					
BALANCE	$	298,308	$	57,785	$	57,530		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(9,265)	(19,261)	(19,177)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(30,231)	(38,524)	(38,353)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	258,812	$	-	$	-		
					
CARRYOVER FROM PRIOR YEAR	0	0	0	Carryover Balance From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	258,812	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
KEYS COVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	FISCAL YEAR 2024/2025 ACTUAL	FISCAL YEAR 2025/2026 BUDGET	FISCAL YEAR 2026/2027 BUDGET	

COMMENTS	

Interest Income	
19,392	
1,500	
2,000	
Projected Interest For 2026/2027	

NAV Tax Collection	
582,210	
576,568	
576,568	
Yearly Maximum Debt Assessment	

Total Revenues	
$	601,602	
$	578,068	
$	578,568		

EXPENDITURES					

Principal Payments	
436,000	
446,000	
456,000	
Principal Payment Due In 2027	

Interest Payments	
137,046	
119,912	
108,186	
Interest Payments Due In 2027	

Bond Redemption	
0	
12,156	
14,382	
Estimated Excess Debt Collections	

Total Expenditures	
$	573,046	
$	578,068	
$	578,568		

Excess/Shortfall	
$	28,556	
$	-	
$	-		

Series 2019 Bond Refunding  Information

Original Par Amount =	$7,322,000	Annual Principal Payments Due:	May 1st	
Interest Rate=	2.60%	Annual Interest Payments Due :	May 1st & November 1st	
Issue Date: Maturity Date:	December 2019
May 2035			
Par Amount As Of 1/1/2026 =	$4,835,000			

Keys Cove Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2022/2023	2023/2024	2024/2025	2025/2026	2026/2027	
	Assessment*			Assessment*			Assessment*			Assessment*		  Projected Assessment* 	

Administrative	$	85.77	$	90.79	$	100.44	$	99.11	$	98.57	
Maintenance	$	544.72	$	385.02	$	258.86	$	259.96	$	256.14	
Debt	 $	629.75	$	629.75	$	629.75	$	629.75	 $	629.75	
Total	$	1,260.24	$	1,105.56	$	989.05	$	988.82	$	984.46	

* Assessments Include the Following : 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:
Total Units	974

IV

LAW Oi"FICES
BILLING©COCHRAN
ESTABUSHEO I 977

KENNETH W. MORGAN, JR. MICHAEL J. PAWELCZYK MANUEL R. COMRAS ANDREW A. RIEF
JEFFERY R. LAWLEY GINGER E. WALD SCOTT C. COCHRAN
ALINE 0. MARCANTONIO JOHN C. WEBBER

STEVEN F. BILLING (1947-199B)

BILLING COCHRAN, P.A. LAS OLAS SQUARE, SUITE 600
515 EAST LAS OLAS BOULEVARO FORT LAUDERDALE, FLORIDA 33301
(954) 764-7150
(954) 764-7 279 FAX

PGA NATIONAL OFFICE CENTER
300 AVENUE OF THE CHAMPIONS, SUITE 270 PALM BEACH GARDENS, FLORIDA 33418
(561) 659-5970
(561) 659-6173 FAX

CHRISTINE A. BROWN GABRIELLA A. FERNANDEZ PEREZ
MARLENE E. GONZALEZ LORI 8. LEWELLEN LIZA E. SMOKER LUCAS A. WILLIAMS

OF COUNSEL: CLARK J. COCHRAN, JR.
SUSAN F. DELEGAL DENNIS E. LYLES BRUCE M, RAMSEY

HAYWARD D, GAY (1943-2007)		

RICHARDT. WOULFE

WWW. BILLI NGCOCHRAN.COM PLEASE REPLY TO: FORT LAUDERDALE

February 2 2026

VIA E-MAIL ONLY- gperez@sdsinc.org Ms. Gloria Perez
District Manager Special District Services Kendall Office Center
8785 SW 165th Avenue, #200
Miami, FL 33193

Re: Adjustment to District Counsel Fee Structure Keys Cove Community Development District Our File: 597.04126
Dear Gloria:

This firm's current fee structure has been in place since 2023. Although we are certainly mindful of the necessity to keep increases in the District's expenses, including the cost of legal services, to a minimum, it has become necessary for us to adjust our hourly rates effective, October 1, 2026, as follows:

Attorneys/Partners:
Attorneys/Associates:

$300.00 per hour
$250.00 per hour

This hourly fee structure will be adjusted on a periodic basis in connection with the District's budget process no later than every third Fiscal Year to reflect changes in the Conswner Price Index published by the U. S. Department of Labor.

Ms. Gloria Perez February 2, 2026
Page 2

Naturally, should you feel you have any questions or require any further information in support of this adjustment you should feel free to contact me at your convenience. As I think you are aware, we very much appreciate the opportunity to serve as District Counsel as well as your courtesy and cooperation with regard to the necessity of what we believe to be both infrequent and reasonable adjustments to our schedule of professional fees.

For the

MJP/jmp
cc: Brielle Barba, SDS (via email only)

PROPOSAL

Tel 786-694-0709
E-mail: operations@raptorvac.com

STORM DRAIN MAINTENANCE
PROPOSAL SUBMITTED TO:
Keys Cove CDD ℅ SDS, Inc.	PROJECT NAME:
Keys Cove	
BUSINESS ADDRESS:
2501A Burns Road, Palm Beach Gardens, FL	PROJECT LOCATION:
2525 SE 15th Pl, Homestead, FL 33035	
CONTACT:
Management	DATE:
April 15, 2026	
We hereby propose to furnish all labor and equipment to complete the work outlined in this proposal in accordance with the Scope of Work listed below.

SCOPE OF WORK: All labor, equipment and materials to complete work outlined in the tabulation table labeled Keys Cove CDD Storm Drain MTE Phase 1.

COST: We propose to conduct this work in accordance with the above Scope of Work for the sum of $16,048.50.

Sixteen Thousand Forty Eight Dollars and 50/100 Cents TERMS: Net 30
ACCEPTANCE: Client hereby accepts and agrees to the terms, Scope of Work, and all other conditions and speciﬁcations hereinabove. Raptor Vac Systems is authorized to perform the work. Payment shall be made in accordance with the provisions contained hereinabove.

Accepted by:

Authorized Representative’s Signature

Date of Acceptance

RAPTOR VAC SYSTEMS, INC. - PROPOSAL							
KEYS COVE CDD - STORM DRAIN MAINTENANCE COSTS							
									
Phase	Structures
1
2
3
4	Pipe Stretch
to 2
to 4
to 4
to 5	Pipe Length (ft)
62
275
69
96	Pipe Diameter (in)
15
15
15
24	Cost (FT)
$2.50
$2.50
$2.50
$3.50	Pipeline Cleaning Cost
$155.00
$687.50
$172.50
$336.00		

Plug	
	5	5 to 6 (CS)	91	24	$3.50	$318.50			
	6
12	6 to 7
12 to NE CAP	22
55	24
15	$3.50
$2.50	$77.00
$137.50			
	12	12 to NW CAP	55	15	$2.50	$137.50			
	12	12 to Y01	72	10	$1.50	$108.00			
	13	13 to SE CAP	55	15	$2.50	$137.50			
	13	13 to NE CAP	55	15	$2.50	$137.50			

Phase 1	13
Y03	13 to Y03
Y03 to Y02	85
54	10
10	$1.50
$1.50	$127.50
$81.00			
	15	15 to South CAP	55	15	$2.50	$137.50			
	15	15 to North CAP	55	15	$2.50	$137.50			
	14	14 to SE CAP	55	15	$2.50	$137.50			
	14	14 to East CAP	55	15	$2.50	$137.50			
	16	16 to South CAP	55	15	$2.50	$137.50			
	16	16 to North CAP	55	15	$2.50	$137.50			
	19	19 to West CAP	55	15	$2.50	$137.50			
	19	19 to East CAP	55	15	$2.50	$137.50			
	19	19 to 18 (CS)	111	15	$2.50	$277.50		Plug	
	18	18 to 17	19	24	$3.50	$66.50			
	20	20 to West CAP	55	15	$2.50	$137.50			
	20	20 to East CAP	55	15	$2.50	$137.50			
	29	29 to West CAP	55	15	$2.50	$137.50			
	29	29 to 30	135	15	$2.50	$337.50			
	30	30 to Y07	57	10	$1.50	$85.50			
	Y07	Y07 to Y06	62	10	$1.50	$93.00			
	Y05	Y05 to 29	102	10	$1.50	$153.00			
	26	26 to 27 (CS)	99	15	$2.50	$247.50		Plug	
	27	27 to 28	19	24	$3.50	$66.50			
	26	26 to 25	215	24	$3.50	$752.50			
	38	38 to 39	213	15	$1.50	$319.50			
	39	39 to 40	44	24	$3.50	$154.00			
			2727		Total	$6,678.50			
	Total Number of Structures	Cost Per Structure	Total Cost					
	19	$110.00	$2,090.00					
	Total Control Structures	Cost Per Structure	Total Cost					
	3	$110.00	$330.00					
									
	6" Vacuum Hose for Control Structures	Cost Per Day	Total Cost					
	1 Day	$200.00	$200.00					
									
	Pipeline Plug For Control Structures	Cost Per Install	Total Cost					
	3	$150.00	$450.00					
	Water Pump and Hoses Daily	Cost Per Day	Total Cost					
	1 Day	$250.00	$250.00					
	Pipeline LF	Cost Per LF	Total Cost					
	2,727 LF	Varies	$6,678.50					
									
	Baffle Removal and Reinstall	Cost Per Unit	Total Cost					
	23	$150.00	$3,450.00					
									
	Vac Truck Daily Mobilization	Cost Per Day	Total Cost					
	4	$400.00	$1,600.00					
	Truck Loads	Cost Per Load	Total Cost					
	4	$250.00	$1,000.00					
		GRAND TOTAL	$16,048.50					

CDD BOUNDARY

SE 24 CT

SE 24 CT

SE 25 ST

SE 26 ST

SE 27 ST

SE 27 CT

SE 27 DR

SE 27 ST

SE 28 CT

SE 28 ST

SE 29 ST

CDD BOUNDARY

SE 14 AVE

SE 15 PL

SE 16 AVE

SE 16 RD

SE 16 TR

CDD BOUNDARY

SE 16 PL

SE 17 AVE

CDD BOUNDARY

PHASE 2

PHASE 4

PHASE 3

PHASE 5

PHASE 1

ALVAREZ ENGINEERS, INC.
KEYS COVE CDD
DRAINAGE SYSTEM MAINTENANCE
EXHIBIT 2

0 50'

150'

350'

Keys Cove Community Development District

Financial Report For March 2026

Keys Cove Community Development District
Budget vs. Actual
October 2025 through March 2026

	Oct 25 - Mar 26		25/26 Budget		$ Over Budget		% of Budget	
Income									
	363.100	ꞏ Admin Assessment Income	72,012.03		96,532.00		-24,519.97		74.6%	
	363.101	ꞏ Maint Assessment Income	188,892.80		253,191.00		-64,298.20		74.61%	
	363.810	ꞏ Debt Assessment	457,593.90		613,370.00		-155,776.10		74.6%	
	363.820	ꞏ Debt Assessment-Paid To Trustee	-434,399.65		-576,568.00		142,168.35		75.34%	
	363.830	ꞏ Assessment Fees	-6,949.82		-19,261.00		12,311.18		36.08%	
	363.831	ꞏ Assessment Discounts	-29,468.55		-38,524.00		9,055.45		76.49%	
	369.401	ꞏ Interest Income	13,127.41		1,800.00		11,327.41		729.3%	
Total Income	260,808.12		330,540.00		-69,731.88		78.9%	
Gross Profit		260,808.12		330,540.00		-69,731.88		78.9%	
Expense									
	511.122	ꞏ Payroll Expense	30.60		480.00		-449.40		6.38%	
	511.131	ꞏ Supervisor Fees	400.00		6,000.00		-5,600.00		6.67%	
	511.301	ꞏ Maintenance/Contingency	0.00		53,500.00		-53,500.00		0.0%	
	511.302	ꞏ Storm Drainage Maintenance	2,150.00		35,000.00		-32,850.00		6.14%	
	511.303	ꞏ Roadway Resurfacing Project	0.00		85,000.00		-85,000.00		0.0%	
	511.304	ꞏ Maintenance Reserve	0.00		25,000.00		-25,000.00		0.0%	
	511.307	ꞏ Fountain Maintenance/Reserve	1,092.00		25,000.00		-23,908.00		4.37%	
	511.308	ꞏ Holiday Lighting	0.00		2,500.00		-2,500.00		0.0%	
	511.310	ꞏ Engineering	1,145.00		12,000.00		-10,855.00		9.54%	
	511.311	ꞏ Management Fees	18,030.00		36,060.00		-18,030.00		50.0%	
	511.315	ꞏ Legal Fees	3,127.50		13,500.00		-10,372.50		23.17%	
	511.318	ꞏ Assessment/Tax Roll	0.00		7,500.00		-7,500.00		0.0%	
	511.320	ꞏ Audit Fees	0.00		3,600.00		-3,600.00		0.0%	
	511.330	ꞏ Arbitrage Rebate Fee	650.00		650.00		0.00		100.0%	
	511.450	ꞏ Insurance	9,280.00		11,500.00		-2,220.00		80.7%	
	511.480	ꞏ Legal Advertisements	541.40		2,750.00		-2,208.60		19.69%	
	511.512	ꞏ Miscellaneous	1,159.52		2,500.00		-1,340.48		46.38%	
	511.515	ꞏ Reimbursables	171.88		975.00		-803.12		17.63%	
	511.540	ꞏ Dues, License & Subscriptions	175.00		175.00		0.00		100.0%	
	511.733	ꞏ Trustee Fees	4,246.25		4,500.00		-253.75		94.36%	
	511.734	ꞏ Continuing Disclosure Fee	0.00		350.00		-350.00		0.0%	
	511.738	ꞏ South Lake Restoration Project	0.00		0.00		0.00		0.0%	
	511.750	ꞏ Website Management	999.96		2,000.00		-1,000.04		50.0%	
Total Expense	43,199.11		330,540.00		-287,340.89		13.07%	
Net Income			217,609.01		0.00		217,609.01		100.0%	

KEYS COVE COMMUNITY DEVELOPMENT DISTRICT MONTHLY FINANCIAL REPORT
MARCH 2026

REVENUES	
Annual Budget
10/1/25 - 9/30/26	

Actual Mar-26	Year To Date Actual
10/1/25 - 3/31/26	
ADMINISTRATIVE ASSESSMENTS	96,532	9,796	72,012	
MAINTENANCE ASSESSMENTS	253,191	25,698	188,893	
DEBT ASSESSMENTS	613,370	62,254	457,594	
OTHER REVENUES	0	0	0	
INTEREST INCOME	1,800	0	13,128	
Total Revenues	$	964,893	$	97,748	$	731,627	
				
EXPENDITURES				
MAINTENANCE EXPENDITURES				
MAINTENANCE CONTINGENCY	53,500	0	0	
STORM DRAINAGE MAINTENANCE	35,000	0	2,150	
ROADWAY RESURFACING PROJECT	85,000	0	0	
MAINTENANCE RESERVE	25,000	0	0	
FOUNTAIN MAINTENANCE/RESERVE	25,000	0	1,092	
HOLIDAY CONTRIBUTION	2,500	0	0	
ENGINEERING/INSPECTIONS	12,000	0	1,145	
SOUTH LAKE RESTORATION PROJECT	0	0	0	
TOTAL MAINTENANCE EXPENDITURES	$	238,000	$	-	$	4,387	
				
ADMINISTRATIVE EXPENDITURES				
SUPERVISOR FEES	6,000	0	400	
EMPLOYER TAXES	480	0	31	
MANAGEMENT	36,060	3,005	18,030	
REIMBURSABLES (POSTAGE/OFFICE SUPPLIES)	975	26	172	
LEGAL	13,500	0	3,128	
ASSESSMENT ROLL	7,500	0	0	
AUDIT FEES	3,600	0	0	
ARBITRAGE REBATE FEE	650	0	650	
INSURANCE	11,500	0	9,280	
LEGAL ADVERTISING	2,750	0	541	
MISCELLANEOUS	2,500	0	1,159	
DUES & SUBSCRIPTIONS	175	0	175	
TRUSTEE FEES	4,500	0	4,246	
WEBSITE MANAGEMENT	2,000	167	1,000	
CONTINUING DISCLOSURE FEE	350	0	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	92,540	$	3,198	$	38,812	
				
Total Expenditures	$	330,540	$	3,198	$	43,199	
				
REVENUES LESS EXPENDITURES	$	634,353	$	94,550	$	688,428	
				
BOND PAYMENTS	(576,568)	(59,591)	(434,400)	
				
BALANCE	$	57,785	$	34,959	$	254,028	
				
COUNTY APPRAISER & TAX COLLECTOR FEE	(19,261)	(1,005)	(6,950)	
DISCOUNTS FOR EARLY PAYMENTS	(38,524)	(3,176)	(29,469)	
				
EXCESS/ (SHORTFALL)	$	-	$	30,778	$	217,609	
				
CARRYOVER FROM PRIOR YEAR	0	0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	30,778	$	217,609	

Bank Balance As Of 3/31/26	$	2,058,661.89	
Accounts Payable As Of 3/31/26	$	64,528.73	
Accounts Receivable As Of 3/31/26	$	-	
Maintenance Reserve As Of 3/31/26	$	227,500.00	
Reserve For Storm Drainage Maintenance As Of 3/31/26	$	175,665.00	
Reserve For Roadway Resurfacing Project As Of 3/31/26	$	320,530.00	
Reserve For Fountain Maintenance As Of 3/31/26	$	24,025.00	
Reserve For Improvements (Restoration Project) As Of 3/31/26	$	262,295.00	
Available Funds As Of 3/31/26	$	984,118.16	

KEYS COVE CDD TAX COLLECTIONS 2025-2026

#	

ID#	

PAYMENT FROM	

DATE	

FOR	

Tax Collect Receipts	

Interest Received	

Commissions Paid	

Discount	

Net From Tax Collector	Admin Assessment Income (Before Discounts &
Fees)	Maint Assessment Income (Before Discounts &
Fees)	Debt Assessment Income (Before Discounts &
Fees)	Admin Assessment Income (After Discounts &
Fees)	Maint Assessment Income (After Discounts &
Fees)	Debt Assessment Income (After Discounts &
Fees)	

Debt Assessment Paid to Trustee	
									$	963,111	$	96,533	$	253,201	$	613,377	$	96,533	$	253,201	$	613,377		
									$	907,108	$	92,540	$	238,000	$	576,568	$	92,540	$	238,000	$	576,568	$	576,568	
1	1	Miami-Dade Tax Collector	12/17/25	NAV Taxes	$	314,444.76		$  (3,018.68)	$ (12,576.93)	$	298,849.15	$	31,516.98	$	82,667.28	$  200,260.50	$ 29,954.20	$	78,567.20	$ 190,327.75	$  190,327.75	
2	2	Miami-Dade Tax Collector	01/20/26	NAV Taxes	$	106,792.86		$  (1,025.22)	$  (4,271.70)	$	101,495.94	$	10,704.18	$	28,075.68	$	68,013.00	$ 10,173.14	$	26,683.20	$  64,639.60	$	64,639.60	
3	3	Miami-Dade Tax Collector	01/20/26	NAV Taxes	$	78,877.28		$	(742.59)	$  (4,618.44)	$	73,516.25	$	7,903.48	$	20,736.85	$	50,236.95	$  7,366.25	$	19,327.45	$  46,822.55	$	46,822.55	
4	4	Miami-Dade Tax Collector	01/20/26	NAV Taxes	$	120,636.04		$  (1,158.10)	$  (4,825.10)	$	114,652.84	$	12,091.42	$	31,715.12	$	76,829.50	$ 11,491.84	$	30,142.15	$  73,018.85	$	73,018.85	
5	5	Miami-Dade Tax Collector	03/02/26	NAV Taxes	$	1,977.64		$	(79.10)	$	(18.98)	$	1,879.56	$	198.09	$	519.95	$	1,259.60	$	188.21	$	494.15	$	1,197.20	$	1,197.20	
6	6	Miami-Dade Tax Collector	03/02/26	NAV Taxes	$	56,362.74		$	(543.67)	$  (1,997.31)	$	53,821.76	$	5,649.27	$	14,817.72	$	35,895.75	$  5,394.51	$	14,149.75	$  34,277.50	$	34,277.50	
7	7	Miami-Dade Tax Collector	03/02/26	NAV Taxes	$	39,407.41		$	(382.46)	$  (1,160.09)	$	37,864.86	$	3,948.61	$	10,360.20	$	25,098.60	$  3,794.01	$	9,954.65	$  24,116.20	$	24,116.20	
8									$	-							$	-	
9									$	-							$	-	
10									$	-							$	-	
11									$	-							$	-	
12									$	-							$	-	
13									$	-							$	-	
14									$	-							$	-	
15									$	-							$	-	
16									$	-							$	-	
					$  718,498.73	$	-	$ (6,949.82)	$ (29,468.55)	$  682,080.36	$  72,012.03	$  188,892.80	$ 457,593.90	$ 68,362.16	$ 179,318.55	$ 434,399.65	$ 434,399.65	

	Assessment Roll		  Collections		Note: Top line are 2025/2026 budgeted assessments before discounts and fees.	
Admin:	$96,533.14	74.60%	Bottom line are 2025/2026 budgeted assessments after discounts and fees.	
Maint:	$253,201.04			
	Debt:  $613,376.50
Total  $963,110.68

$	718,498.73
$	-	
$	682,080.36	
$	(72,012.03)	$	(68,362.16)	
$	(188,892.80)	$  (179,318.55)	
$	(457,593.90)	$  (434,399.65)	
$	-	$	-