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RIZZETTA COMPANY - Riverchase Unit One
RIZZETTA & COMPANY INCORPORATED TABLE OF CONTENTS LETTER OF INTEREST 1. COMMUNITY ASSOCIATION SERVICES 2. SCOPE OF SERVICES 3. FEE SCHEDULE 4. SAMPLE MANAGEMENT CONTRACT 5. GREYHAWK LANDING RIZZETTA &C OMPANY COMMUNITY DEVELOPMENT INCORPORATEDDISTRICT ASSOCIATION MANAGEMENT SERVICES Tampa Office 3434 Colwell Ave. Suite 200 Tampa, FL 33614 (813) 933-5571 Rizzetta & Company, Inc. 3434 Colwell Ave. Suite 200 Tampa, FL 33614 St. Augustine Office 2806(813) N. Fifth933-5571 Street Suite 403 St. Augustine, FL 32084 (904) 436-6270 Wesley Chapel Office Orlando Office Ft. Myers Office Panama City Beach Office St. Augustine Office 5844 Old Pasco Road Suite 100 Wesley Chapel, FL 33544 (813) 994-1001 8529 South Park Circle Suite 330 Orlando, FL 32819 (407) 472-2471 3800 Colonial Blvd. Suite 103 Ft. Myers, FL 33966 (239) 936-0913 120 Richard Jackson Blvd. Suite 220 Panama City Beach, FL 32407 (850) 334-9055 2806 N. Fifth Street Suite 403 St. Augustine, FL 32084 (904) 436-6270 Table Serving Florida’s Communities for Over 25 Years www.rizzetta.com TABLE OF CONTENTS Page Rizzetta & Company, Inc. - Company Profile………………………………………… 1 Rizzetta & Company, Inc. - Organizations/Memberships……………………… 4 Rizzetta & Company, Inc. - Directors and Officers……………………………….. 5 Rizzetta & Company, Inc. - Affiliated Companies…………………………………. 6 Current Association Clients…..……………………………………………………………… 7 Current Association Client Locations…………………………………………………… 11 Fact Sheet: Association Management Services……………………………………. 12 Organizational Chart……………………………………………………………………………. 13 Rizzetta & Company Senior Management Team…………………………………. 14 Experience Service Proximity Value ASSOCIATION MANAGEMENT SERVICES RIZZETTA & COMPANY, INC. - COMPANY PROFILE RIZZETTA & COMPANY, INC, was incorporated in 1986 as a consulting firm that provides services to the real estate development industry. Our primary focus is to provide Financial Consulting, District Management and Accounting services to Community Development Districts and Community Association services to homeowners, condominium and commercial property owners associations throughout Florida. In addition, Rizzetta & Company has recently created an Amenity Management Services division to provide customized amenity management services to our community associations and community development districts. The firm is owned by William J. Rizzetta who serves as President of the company. Additional information can be found on our web site at www.rizzetta.com. Our Community Association Services staff is able to facilitate the needs of both associations affiliated with community development districts and associations that are standalone entities. The Community Association Services Division of Rizzetta & Company, Inc. services the needs of both developer controlled and homeowner controlled associations whether the community is in the early stages of development or long after turnover. We tailor our services to meet the needs of our clients and we have the necessary expertise to promote successful associations. We provide both portfolio and on-site management services for our association clients. All of our managers are licensed with the State of Florida and our firm is a member of Community Associations Institute (CAI). The Community Association Services division of Rizzetta & Company, Inc., with decades of experience in the industry, is a trusted partner to those that we serve. The firm currently manages nearly 25,000 units in communities that will ultimately have over 35,000 total units at build out. Experience Service Proximity Value 1 ASSOCIATION MANAGEMENT SERVICES RIZZETTA & COMPANY, INC. offers full Community Association Management services to assist both Homeowners and Condominium Associations and Commercial Property Owners Associations. The firm currently manages nearly 25,000 units in communities that will ultimately have over 35,000 total units at build out. COMPLIANCE - Ensure the Association is in compliance with governing documents and the Florida Statutes. COMMUNITY INSPECTIONS – Perform regular inspections of properties to ensure compliance with deed restrictions. Prepare and send violation notices as necessary. ARCHITECTURAL CONTROL – Approve all exterior renovations, additions or other modifications subject to architectural review. BUDGETING - Coordinate the preparation of the Association’s annual maintenance budget as well as monitor disbursements and expense payments. MEETING PLANNING – Prepare agendas, meeting materials and all other documents necessary for presentation at regular or special meetings. RECORDS MAINTENANCE - Maintain Association records and files and perform all other administrative functions necessary for efficient Association management. EMERGENCY SERVICES – Coordinate emergency and after-hours services as necessary to minimize the disruption of normal Association activities. Experience Service Proximity Value 2 ASSOCIATION MANAGEMENT SERVICES RIZZETTA & COMPANY, INC. provides a complete range of accounting and financial reporting services to each of the Associations we manage. These services include financial statement preparation, coordination of budgets, billing and collecting dues, accounts payable processing, compliance with state required filings, compliance with Association covenants and ongoing analysis and reporting of the Association’s finances throughout the year. FINANCIAL STATEMENTS - Prepare monthly and annual financial statements. BANK ACCOUNTS - Maintain association bank accounts. ASSESSMENT COLLECTION – Prepare invoices for annual association assessments, dues, fines or other amounts due to the Association. Track collections and follow up with delinquent notices as needed. ACCOUNTS PAYABLE - Disburse payables as approved by the Association’s board. TAX PREPARATION – Coordinate the preparation and filing of federal income tax returns. AUDITS - Provide all supporting schedules and accurate accounting records to ensure the efficient and timely completion of the audits or reviews performed annually. OWNER INFORMATION - Maintain detailed owner information to ensure up-to-date owner information for each property for purposes of billing, violation notices or any other general correspondence. TITLE COMPANY CORRESPONDENCE – Provide amounts of outstanding dues, assessments or liens and provide estoppel information to title companies for individual lot closings. Experience Service Proximity Value 3 ASSOCIATION MANAGEMENT SERVICES RIZZETTA & COMPANY, INC. - ORGANIZATIONS/MEMBERSHIPS All of our managers are licensed Community Association Managers (CAMs) with the State of Florida. In addition, Rizzetta & Company holds memberships in the following professional organizations: Community Associations Institute (CAI): CAI provides education, tools and resources to people who govern and manage homeowners associations, condominiums and other planned communities. All of Rizzetta & Company’s Community Association Managers are members of CAI. In addition, Rizzetta & Company is a Chapter Sponsor of the Community Associations Institute. Association of Florida Community Developers (AFCD): AFCD’s mission is to provide a leadership role in the creation of quality community development and the formulation of a responsible approach to the planning and development of Florida's future. Urban Land Institute, Tampa Bay (ULI): The mission of the Urban Land Institute is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. Florida Government Finance Officers Association (FGFOA): The FGFOA was founded in 1937 and serves more than 2,700 professionals from state, county, and city governments, special districts and private firms. The FGFOA is a professional resource that provides opportunities through education, networking, leadership and information. Experience Service Proximity Value 4 ASSOCIATION MANAGEMENT SERVICES RIZZETTA & COMPANY, INC. - DIRECTORS AND OFFICERS Name Title Years With Rizzetta & Company Years in Related Industry William J. Rizzetta President 26 32 F. Peter Williams Director of District Management and Financial Consulting Services 14 22 Heather C. Russel Director of Community Association Services 10 14 John H. McKay Director of Planning and Compliance 12 15 Shawn E. Wildermuth CFO/ Director of Accounting Services 2 21 Eric J. Dailey Director of District Management Services 7 8 Robert M. Cox Director of Financial Consulting Services 4 4 Kelly A. Evans Director of Amenity Management Services 4 12 Experience Service Proximity Value 5 ASSOCIATION MANAGEMENT SERVICES RIZZETTA & COMPANY, INC. - AFFILIATED COMPANIES Rizzetta Amenity Services, Inc. 3434 Colwell Ave., Suite 200 Tampa, FL 33614 (813) 933-5571 RIZZETTA AMENITY SERVICES, INC., offers turnkey day-to-day operations for residential community clubhouses for both Community Development Districts and Community Associations. Onsite management teams include lifestyle directors to provide for a diverse calendar of recreational and social activities, educational programs and classes, and special events. Our goal is to provide creative and diverse programs which include numerous recreation and social activities for both children and adults. Our “Full Service” scope of work includes, management staff, swimming pool maintenance services, clubhouse janitorial services, general facility maintenance and repairs, and sports, recreation and activities programming. Rizzetta Amenity Services, Inc. is customized, creative and cost effective to meet our client’s needs. MANAGEMENT TEAM - Experienced Lifestyle Directors; Day to Day Turn Key Operation; Cost Effective Management Style; Exceptional Customer Care Service; Corporate Support and Supervision PRE-OPENING SERVICES - Develop Facility Operational Format and Guidelines; Implement Procedures and Best Practices; Assist with Grand Opening Services and Marketing Promotions LIFESTYLE PROGRAMMING AND ACTIVITIES - Diverse Calendar of Recreational Events and Activities; Classes, Lessons and Programs for all Ages; Traditional Holiday Events; Special Interest Clubs and Groups; Educational Activities and Programs SPA AND FITNESS CENTER OPERATIONS - Spa Treatment Implementation; Product and Spa Services Promotional Materials; Life Enrichment Programs; Fitness and Wellness Programs, Classes and Lessons; Adult and Youth Sports Programs and Mini Tournaments MAINTENANCE FACILITY SERVICES - Swimming Pool Maintenance Services; Clubhouse & Bathroom Janitorial Services; General Maintenance and Repair Services; Field Management Services Experience Service Proximity Value 6 ASSOCIATION MANAGEMENT SERVICES CURRENT ASSOCIATION CLIENTS Rizzetta & Company currently manages 114 communities with combined annual operating budgets in excess of $45,000,000 out of its six offices in Florida. Currently 24,588 units are being serviced in communities that will ultimately have over 35,242 total units at build out. A complete list of these communities, the county and the total number of units currently managed and at build out is shown below. # Units Managed # Units at Build out HOA 4 115 NO HOA 58 103 Pasco NO HOA 2 20 Anchor Cove Hillsborough YES HOA 36 36 Avalon Village Hernando NO HOA 392 819 Bahia Lakes Hillsborough YES HOA 343 443 Bay Breeze At Mirabay Hillsborough YES HOA 31 134 Bay Breeze Cove Townhomes Pinellas NO HOA 171 171 Bay Isle Key Condominium Pinellas NO CONDO 369 369 Bayou Cove Master Pinellas NO HOA 0 22 Beacon Park Phase I Orange NO HOA 370 370 Community Addison Manor Alexandria Pointe Alsace Bella Vida At Timber Springs County CDD Association Type Hillsborough NO Volusia Orange NO HOA 353 396 Belmont Hillsborough YES HOA 103 2,054 Bloomingdale Ridge/Brandon Hillsborough NO HOA 271 271 Bloomingdale EE-Preston Woods Hillsborough NO HOA 95 95 Boyette Oaks Pasco NO HOA 117 117 Brandon Ridge Hillsborough NO HOA 44 44 Polk YES HOA 7 7 Brooks Landing Seminole NO HOA 42 42 Cambridge Cove Hillsborough NO HOA 68 68 Cardel Villas at Covington Hillsborough YES HOA 142 170 Carriage Homes at Arbor Greene Hillsborough YES HOA 159 159 Carrollwood Preserve Hillsborough NO HOA 86 86 Chapman Crossing at FishHawk Ranch Hillsborough NO HOA 29 59 Charleston Place Hillsborough NO HOA 84 84 Lake YES HOA 165 165 Hillsborough YES HOA 2 5 Pasco YES HOA 48 136 Manatee YES HOA 269 622 Bridgewater Master Cherryridge at Estates at Cherry Lake Circa Fishhawk Village Center Claridge Place Copperstone Master Experience Service Proximity Value 7 ASSOCIATION MANAGEMENT SERVICES Community County CDD Association Type # Units Managed # Units at Build out Copperstone Townhomes Manatee YES HOA 64 118 Coquina Cove Volusia NO HOA 281 332 Country Walk Pasco YES HOA 582 891 Courtyards of Tampa Hillsborough NO CONDO 25 25 Cross Creek Hillsborough NO HOA 267 267 Walton NO HOA 24 36 Pasco YES HOA 437 669 Destin RV Beach Resort Dupree Lakes Eagle Palms Hillsborough NO HOA 366 366 FishHawk Ranch Hillsborough YES HOA 4,293 4,621 FishHawk Ranch Tract 8 Hillsborough NO COMM 7 7 FishHawk Tract 11 Hillsborough Hillsborough NO COMM 7 7 NO COMM 3 3 Glen St. Johns St. Johns YES HOA 108 495 Golf Villas at Tara Manatee YES HOA 232 232 Graycliff at Lucaya Lee YES CONDO 32 32 Orange NO HOA 84 84 Duval NO HOA 335 690 Hillsborough YES HOA 405 500 Clay NO HOA 120 120 FishHawk Tract 12 Grove Park At Stonecrest Harbortown At Pablo Creek Harbour Isles Hibernia Plantation Hidden Oaks At Temple Terrace Hillsborough NO HOA 194 194 Hidden River, The Club at Hillsborough NO CONDO 96 248 Pasco YES HOA 76 105 Seminole NO HOA 109 180 Hillhurst Crossing Isles of Oviedo Townhomes Jameson Place Brevard NO CONDO 204 252 Kinglet Ridge at FishHawk Ranch Hillsborough YES HOA 108 159 Kings Gate of Brandon Hillsborough NO HOA 42 42 Kingshyre at Cross Creek Hillsborough NO HOA 175 175 Lake Drawdy Reserve Orange NO HOA 3 28 Pasco NO HOA 114 114 Luxury Condos at FishHawk Ranch Hillsborough YES CONDO 18 18 Lynmar Commerce Park Hillsborough NO HOA 29 29 Magnolia Green Little Ridge Hillsborough NO HOA 154 302 Magnolia Park Estates Orange NO HOA 42 74 Marker 1 Marina Cooperative Pinellas NO COOP 387 387 Marker 1 Marina Dockominium Pinellas NO CONDO 144 144 Marker 1 Marina Master Pinellas NO HOA 531 531 Pasco YES HOA 2,116 2,116 Meadow Pointe III/IV Experience Service Proximity Value 8 ASSOCIATION MANAGEMENT SERVICES County CDD Association Type Mirabay Hillsborough YES HOA 897 1,750 Misty Glen Hillsborough NO HOA 30 48 Pinellas NO HOA 120 120 Pasco YES HOA 332 550 Community Myrtle Point Oak Creek Of Pasco County # Units Managed # Units at Build out Oakleaf Hammock Manatee NO HOA 171 327 Old Tampa Estates Manatee NO HOA 11 33 One Bayshore Master Hillsborough NO CONDO 4 4 Orange Blossom Creek Hillsborough NO HOA 129 129 Parkside TH at FishHawk Ranch Hillsborough YES HOA 12 40 Sarasota NO HOA 13 13 Santa Rosa NO HOA 13 124 Duval NO HOA 3 3 Regent Lake Reserve Pointe Townhomes River City Residential River Place Hillsborough NO HOA 66 73 Riverview Townhomes Seminole NO HOA 84 192 River Walk Townhomes Hillsborough NO HOA 144 144 Brevard NO HOA 14 154 Riverwalk Club Towns Rocky Creek Estates Master Hillsborough NO HOA 0 64 Saddle Creek Manor Townhomes Pasco NO HOA 177 177 Saddlewood Estates Pasco NO HOA 181 181 St. Johns YES HOA 1,093 1,154 Saint Johns/Heritage Landing Schooner Cove Hillsborough NO CONDO 138 249 Sea Crest Hillsborough YES HOA 142 142 Pasco NO HOA 90 200 Sebastian Cove St. Johns NO HOA 35 175 Sebastian Cove, The Lofts at St. Johns NO CONDO 184 356 Sedgwick At Meadow Pointe Pasco YES HOA 129 129 Hillsborough YES HOA 225 571 Pasco YES HOA 182 182 Sea Forest Beach Club Starling FishHawk Ranch Straiton at Ballantrae Summer Key Duval NO CONDO 312 600 Suncoast Pointe Pasco YES HOA 330 330 Tanglewylde Pasco YES HOA 146 146 Tierra Bella Orange NO HOA 17 78 Tierra Del Sol Pasco NO HOA 436 436 St. Johns NO HOA 10 91 Townhomes at Fishhawk Ranch Hillsborough YES HOA 45 45 Ventana Hillsborough NO HOA 181 181 Timberwood Landing Experience Service Proximity Value 9 ASSOCIATION MANAGEMENT SERVICES Community Ventana Townhomes County CDD Association Type # Units Managed # Units at Build out Pasco YES HOA 58 190 Villas at Lake St. Charles Hillsborough YES HOA 40 40 Walden Woods Hillsborough NO HOA 125 397 Waters Edge Master Pasco YES HOA 834 1,069 Waters Edge Patio Homes Pasco YES HOA 69 69 Waters Edge Single Family Pasco YES HOA 706 879 Orange NO HOA 195 305 Pasco NO COMM 49 49 Wekiva Run Wesley Chapel Commons Whisper Dunes Bay NO HOA 89 378 Whispering Woods Hillsborough NO HOA 74 143 Winchester Ridge Duval YES HOA 108 653 Volusia NO HOA 71 104 24,588 35,242 Woods Of Lake Helen TOTAL Experience Service Proximity Value 10 ASSOCIATION MANAGEMENT SERVICES CURRENT ASSOCIATION CLIENT LOCATIONS Experience Service Proximity Value 11 ASSOCIATION MANAGEMENT SERVICES FACT SHEET: ASSOCIATION MANAGEMENT SERVICES Year Established 1986 Total Full Time Employees-Rizzetta & Company 80 Total Association Management Employees 32 Office Locations Tampa Orlando Wesley Chapel St. Augustine Panama City Ft. Myers Current Association Management Clients 114 Combined Total Annual Operating Budgets $45,000,000 Current Total Units Under Management 24,588 Total Units at Build Out 35,242 Counties Served 19 Experience Service Proximity Value 12 ORGANIZATIONAL CHART ASSOCIATION MANAGEMENT SERVICES RIZZETTA & COMPANY, INC. Experience Service Proximity Value 13 ASSOCIATION MANAGEMENT SERVICES RIZZETTA & COMPANY SENIOR MANAGEMENT TEAM William J. (“Bill”) Rizzetta: President Bill Rizzetta has more than 30 years of management and financial administration experience in both the public and private sectors. Prior to forming Rizzetta & Company in 1986, he was employed by Tampa Electric Company and the Hillsborough County Planning Commission. He attended the University of South Florida and received a bachelor's degree from the College of Engineering in 1975, and a master's degree in Business Administration in 1978. Mr. Rizzetta has been qualified as an expert witness and has provided testimony at: bond validation hearings; administrative hearings conducted by the State of Florida; and local public hearings required for establishment of CDDs and special assessment taxation. In addition, he has provided testimony in litigation regarding impact fee assessments and has been directly involved in the preparation of testimony for Florida Public Service Commission rate adjustment hearings. Mr. Rizzetta has provided financial advisory and management services for the establishment and financing of Community Development Districts throughout Florida. His firm currently manages over 115 districts and over 114 Community Associations throughout Florida, and his services have been utilized in 242 bond transactions totaling over $3.2 Billion. In addition, Mr. Rizzetta has served on a variety of committees during his career, including two appointments to the Hillsborough County Government Efficiency Management Study Committee. As a member of the Builders Association of Greater Tampa, he has served on committees regarding Community Development Districts, Impact Fees, Building Permit Fees, Comprehensive Plan Review and Capital Improvements. F. Peter (“Pete”) Williams: Director of District Management and Financial Consulting Services The contract team will be led by Pete Williams. Because of his deep experience in all areas of Community Development District management – from administration to field operations – Mr. Williams is responsible for all District Management functions at Rizzetta & Company. This includes overseeing all management aspects of Rizzetta & Company’s 115 district management clients with combined annual operating budgets totaling in Experience Service Proximity Value 14 ASSOCIATION MANAGEMENT SERVICES excess of $65 million, as well as growing the management practice. Mr. Williams manages a team that includes six Community Development District managers and administrative support staff, and he is the chief liaison for all accounting functions related to the Community Development Districts. Mr. Williams has been qualified as an expert witness and provided testimony in various types of court action, including bond validation hearings and various other administrative hearings on the localgovernmental level. Prior to coming to Rizzetta & Company, he was the Vice President and Director of Management for a firm that managed 80-plus communities with more than 12,000 units. These communities ranged from small 50-unit communities to 400-unit luxury waterfront condominiums, with budgets in excess of $12 million. Prior to his career in Community Management, he was a retailing executive with the Southland Corporation and Rite–Aid Drugs. John H. McKay: Director of Planning and Compliance John McKay has over 25 years’ experience in commercial banking, real estate and public accounting. Mr. McKay received a Finance degree from Auburn University and an Accounting degree from the University of South Florida. As Director of Planning and Compliance, Mr. McKay is responsible for certain aspects of district establishment, including preparing financial analysis, providing district feasibility and bond financing strategies, and providing expert testimony at establishment and bond validation hearings. In addition, he is responsible for certain district financial reporting and compliance functions. Mr. McKay’s previous CDD experience includes developing allocation methodologies and bond structures for over 90 Community Development Districts throughout Florida, preparing and certifying annual assessment rolls, and collecting short-term bond pre-payments. Prior to joining Rizzetta & Company, Mr. McKay was part of the consulting practices of a national and a local public accounting firm, and participated in a variety of financial advisory consulting and auditing engagements, including bankruptcy, lost profits analysis, troubled company cash flow, business valuations, and mergers and acquisition analysis. In addition to real estate, his industry experience includes manufacturing, healthcare, marketing and agriculture. Experience Service Proximity Value 15 ASSOCIATION MANAGEMENT SERVICES Shawn E. Wildermuth, CPA: Controller Shawn E. Wildermuth, CPA, has more than 22 years of finance and accounting experience with both public and private companies. Mr. Wildermuth received his bachelor’s degree in Accountancy from the University of Illinois at Champaign-Urbana. He is a Registered Certified Public Accountant in the State of Illinois and a member of the American Institute of Certified Public Accountants. As Controller for Rizzetta & Company, Mr. Wildermuth is responsible for all financial reporting of special districts and community associations in compliance with the applicable accounting standards. This includes reporting financial information and disbursements to the boards on a regular basis. Mr. Wildermuth is responsible for all facets of compliance management, including the coordination of annual audits, the implementation of new reporting requirements, and the establishment of policies and procedures to ensure accuracy. Additionally, Mr. Wildermuth is responsible for management of all accounting staff and the daily accounting functions for the Community Development Districts and Community Associations under management by Rizzetta & Company. Prior to joining Rizzetta & Company, Mr. Wildermuth held positions as Controller, Director of Treasury and Budget, and Director of Finance. His responsibilities included financial reporting, accounting, finance, treasury, payroll, human resources and computer consulting. Mr. Wildermuth started his career in public accounting with Arthur Andersen & Company in Chicago. During his career, he has gained experience in various industries, including real estate development, Professional Employer Organizations, direct marketing and manufacturing. Heather C. Russel: Director of Community Association Services Heather C. Russel has over 12 years of experience in community management, specializing in homeowner and condominium associations in both a portfolio and onsite capacity. Ms. Russel is licensed by the State of Florida as a Community Association Manager. As Director of Community Association Services, Ms. Russel is responsible for all aspects of the Community Association Management Division. In this position, Ms. Russel ensures that all associations under management comply with the guidelines set forth in their governing documents and the applicable Florida Statutes, and fosters the continued growth of the division with the acquisition of new clients, further assisting those new clients with the set-up of their associations, and the development of its policies and procedures. Her years of experience with forecasting, budget preparation and the Experience Service Proximity Value 16 ASSOCIATION MANAGEMENT SERVICES administration of community associations, as well as her first-hand knowledge of field operations management, continuously produce successful associations for the developer and owner client. Additionally, Ms. Russel is directly responsible for the division’s staff, inclusive of community managers and administrative support personnel. Prior to joining Rizzetta & Company in 2003, Ms. Russel was a Community Association Manager for a firm, where her responsibilities included the direct oversight of a multi-site portfolio of more than 20 associations. Eric J. Dailey: Director of Management Services As Associate Director of Management Services, Eric Dailey is responsible for daily oversight of the district’s activities for the Community Development Districts under management. He manages a staff that includes five Community Development District managers, as well as administrative support. Prior to his current position, Mr. Dailey held the title of Associate Director of Financial Services and was responsible for the development of allocation methodologies and bond financing structures for Community Development Districts. Mr. Dailey has also served as Regional District Manager and was responsible for the management and oversight of 50 CDD’s in Central and North Florida. Mr. Dailey obtained a Bachelor of Science from Florida State University. Robert M. Cox: Director of Financial Consulting Services Robert Cox oversees the company’s Financial Consulting Services department, which provides financial consulting and special assessment services to over 115 Community Development Districts in Florida and Alabama. Mr. Cox is responsible for developing special assessment methodologies and bond financing scenarios for the districts serviced by his department. He and his staff work with landowners, developers, property managers and various other entities to ensure the proper allocation of debt service assessments associated with nearly $2 Billion in district-issued bonds. Mr. Cox is an active member of the Florida Bar and has previously been certified to practice before all Florida courts and the United States District Court for the Middle District of Florida. Mr. Cox received his Bachelor of Arts degree from the Florida State University, where he studied International Affairs and Economics, and he earned his Juris Doctor degree from the Florida State University College of Law. Experience Service Proximity Value 17 SCOPE OF SERVICES TO BE PROVIDED Association Management: • • • • • • • • • • • • • • • • Provide the services of a Licensed Community Association Manager, administrative staff, and accounting personnel Assist the association in locating and contracting with the best vendors available, taking full advantage of knowledge and relationships developed through industry experience Assist in securing competitive bids on services and products for the association to obtain the highest quality and value Coordinate and monitor the activity and performance of vendors Maintain documentation that vendors are properly licensed and insured Perform bimonthly inspections of the association common areas and monitor the condition and maintenance needs Perform bimonthly inspections of the physical appearance and condition of the member properties to assess compliance with the governing documents Follow-up on complaints of violations or maintenance issues received from association members or the board Issue enforcement notices and take other appropriate action necessary to resolve violations in accordance with the association documents and/or instructions of the board Process architectural applications for committee review, and issue follow-up member correspondence Provide monthly enforcement and architectural reporting to the board Coordinate obtaining proper insurances for the association Reporting and filing of insurance claims on behalf of the association Maintain current database of all current resident contact information Provide prompt response to members questions and concerns Provide 24 hour call-in service for emergencies Assessments: • • • • Maintain assessment rolls including coordination of closing information with title companies Coordination of the preparation and distribution of assessment coupon books or payment statements to each association member Collection and deposit of member assessments into association bank accounts insured by the FDIC Preparation and processing of past due notices, intent to lien notices and liens in accordance with the policies of the association Accounting: • • • Preparation of monthly financial statements by the 20th of the month Preparation and approval of disbursements in accordance with the terms of approved vendor contracts or as authorized by the budget or board Preparation of supporting financial reports including detailed general ledger, cash receipts and disbursements registers • • • • Maintain and update detailed accounts receivable reports including aging reports Maintenance of association bank accounts Preparation of monthly bank reconciliation Preparation of annual association operating budget for board review Tax and Association Reporting Requirements: • • • • • Preparation of IRS Form 1099 for vendor payments Coordination of the preparation and filing of federal tax returns Coordination of the preparation and filing of state tax returns Preparation and filing of Annual Corporate Report required by the Florida Department of State Coordination and oversight of financial audits, compilations or reviews by an independent CPA if required by statute or requested by the board Association Governance: • • • • • • Prepare monthly management reports summarizing significant events and actions for the period Community Association Manager will attend: 1. Annual meeting 2. Up to four (4) board of directors meetings Preparation of meeting agenda and board meeting packages Preparation of meeting minutes Prepare and mail meeting notices when applicable Facilitate communications between the members and the board Maintenance of Association Records: • • Act as custodian of official records and files of the association including but not limited to: • Minutes of board, special and annual meetings • Meeting attendance records • Accounting records including cash receipt and disbursement records • Federal and state tax returns and other tax related records • Annual corporate filings • Insurance records Provide members access to all official records PROPOSED FEE STRUCTURE Rizzetta & Company, Inc. proposes the following fee structure for Riverchase. • Management fee Annually Monthly $6,600.00 $ 550.00 • Initial association set-up fee • Misc. administrative expenses, (copies, postage, etc.) waived Charged per occurrence, noted in Exhibit B of the sample management contract RIZZETTA & COMPANY, INC. Community Management Contract THIS AGREEMENT made and entered into this xx day of xxxxxxx, 20xx, between __________________ Homeowners Association, Inc. (Association), and Rizzetta & Company, Inc. (Agent), 3434 Colwell Avenue, Suite 200, Tampa, FL 33614. WITNESSETH: WHEREAS, the Association is the entity responsible for the management operation of a certain Association known as __________________ Homeowners Association, Inc. (Association); WHEREAS, the Association desires to employ the Agent to manage the Association and the Agent desires to be employed to manage the Association in accordance with the terms of this Agreement. NOW, THEREFORE IT IS AGREED AS FOLLOWS: 1. Beginning on the ____ day of ________________, 20___ and terminating on the ____ day of _________________, 20___, the Association hereby employs the Agent exclusively to manage the Association for a period of _____________ (___) months. This agreement shall be automatically renewed for twelve (12) month periods unless one party notifies the other in writing sixty (60) days prior to the applicable termination date by certified mail. 2. The Agent agrees to manage the Association to the extent, for the period, and upon the terms herein provided. 3. More particularly, the Agent agrees to perform the following services in the name of and on behalf of the Association as set forth in “Exhibit A” in accordance with the associated cost schedule for such services as set forth in “Exhibit B” attached hereto, and incorporated by reference herein. The Association hereby gives the Agent the authority and powers to perform these services under the direction of the Board of Directors. A. The Agent shall collect all assessments at a rate determined by the Board of Directors and other charges due to the Association from its members. The Association hereby authorizes the Agent to request, demand, collect, receive and receipt for any and all assessments or charges which may at any time be or become due to the Association and to take such immediate emergency action with respect thereto as the Board of Directors is authorized to take under the Declaration of Covenants, Conditions and Restrictions, Articles of Incorporation and the By-Laws, Rules and Regulations of _________________ Homeowners Association, Inc. (Association) or under applicable laws, rules and regulations. B. The Agent shall maintain records showing all its receipts and expenditures relating to the Association and shall promptly submit to the Board a cash receipts and disbursements statement for the preceding month, reconciled bank statement and a statement indicating a balance in the Association’s account, for the Association. C. Subject to the direction of the Board of Directors and at the expense of the Association, the Agent shall cause the common areas of the Association to be maintained according to the appropriate standards of maintaining, consistent with the character of the Association, Initials ________ including but not limited to cleaning, painting, decorating, yard care, lawns and shrubbery and other such maintenance repair work as deemed necessary by Agent. D. The Agent shall, on behalf of the Association, solicit bids and contract with outside vendors for services and materials which are not shown on Exhibit “A” and are necessary to maintain and operate the Association. Such services shall include, but not be limited to, landscaping, pool cleaning, janitorial, engineering, or other professional management services. E. The Agent shall execute and file returns and other instruments, and perform all acts required of the Association as an employer under the applicable State and Federal Laws. F. The Agent shall make appropriate arrangements with the proper utilities for water, electricity and other such services as may be needed from time to time by the Association with consent of the Board. The Agent shall also purchase on behalf of the Association such specialized equipment and tools, appliances, materials and supplies as are necessary for the proper maintenance and operation of the Association. All such purchases and contracts shall be in the name of and at the expense of the Association; but only after Board approval of such purchases which exceed $1500.00, unless the said item is previously budgeted. G. The Agent shall pay from the funds of the Association all taxes, water, sewer, garbage, and all other charges or obligations incurred by the Association with respect to the maintenance or operation of the Association or incurred by the Agent on behalf of the Association pursuant to the terms of this Agreement or pursuant to other authority granted by the Association. Agent shall ensure billing compliance with contracted services. H. The Agent shall supervise, and where authorized by the Board of Directors in writing, cause to be placed in force, all such insurance deemed necessary by the Board of Directors to protect the Association, its Officers and Directors, including but not limited to, worker’s compensation insurance, public liability insurance, fire and extended coverage insurance, burglary and theft insurance, flood insurance (when applicable) and director’s insurance. The Agent shall promptly investigate and report to the Board of Directors with respect to all accidents or claims relating to the ownership, operation and maintenance of the common areas of the Association property including any damage or destruction thereto, and shall cooperate with the insurance company and make such reports as are required in connection therewith. The Agent shall present to the Association recommendations by qualified agents as to the type and extent of coverage. Agent shall be named as additional insured on each policy. Agent shall ensure that contractors are fully licensed and insured. I. The Agent shall assist the Association in enforcing the provisions of the Declaration of Covenants, Conditions and Restrictions; Articles of Incorporation; and By-Laws of the Association and such rules and regulations as are promulgated by the Board of Directors of the Association against resident owners or other persons violating the said Documents. This enforcement assistance shall include but not be limited to, oral or written demands for compliance and the filing of legal action to compel compliance. J. Agent shall prepare and distribute all notices and announcements to all members including the typing/drafting and distribution of meeting minutes as directed by the Board of Directors and/or state statute(s). Notwithstanding any other provision herein, Agent shall be liable only for its gross negligence; bad faith or breach of express provisions of this Agreement, but in other respects shall not be liable for mistakes of judgment. K. Agent shall make onsite visits/reviews to monitor the site, supervise contractors and/or employees. Frequency and duration shall be mutually agreed to by both parties. Initials ________ 4. L. Agent shall maintain a roster of all lot owners with mailing addresses and shall ensure maintenance and storage of all associations’ records. M. Agent shall mail a Welcome Package to new owners and include a payment coupon book. In discharging the responsibilities under Paragraph No.3 hereof, except as set forth in Paragraph 3.F., the Agent shall not make any expenditure nor incur any non-recurring contractual obligations exceeding $1500.00 without prior consent of the Board. Notwithstanding the limitations imposed by the preceding sentence, the Agent may, on behalf of the Association and without prior consent, expend any amount or incur a contractual obligation in any amount, required to deal with emergency conditions which may involve danger to life or property or may threaten the safety of the Association or the owners and occupants, or may threaten the suspension of any necessary services to the Association. A. Agent shall charge a fee as referred to in “Exhibit B” as professional management fees for services rendered outside the agreed terms herein. B. Agent may charge the Association a fee up to seven percent (7%) of the filed claim for restoration of any common area as further defined in the CC&R’s, plats or any like instrument identifying such common area. Agent shall oversee such restoration task. 5. Notwithstanding any other provisions of this Agreement, the Agent is given no authority or responsibility for the maintenance of, or repairs to, the interior of a residence in the Association. Such maintenance and repairs shall be the sole responsibility of the owners individually. 6. The Agent agrees that all monies collected on behalf of the Association shall be deposited in the ___________________ Homeowners Association, Inc. account. 7. A. All accounts will be with a financial institution where deposits are insured by the Federal Deposit Insurance Corporation. These monies and accounts are to be kept separate and apart from the Agent’s own funds. It is understood that such accounts may include other monies received by the Agent in a representative capacity on behalf of the Association and the balance in such accounts will usually not exceed the insurance limits of the Federal Deposit Insurance Corporation for a single account. Such financial institution shall be determined by Agent. B. The Agent, with consent of the Board, agrees that all Agent’s employees who handle or are responsible for the safekeeping of any monies of the Association shall be covered by a crime policy protecting the Association. Such a policy is to be in an amount and with a company determined by the Agent. C. All expenses of operation and management may be paid from the Association’s funds held by the Agent, and the Agent is authorized to pay any amounts owed to the Agent by the Association from such account at any time without prior notice to the Association. The Agent shall have no obligation to advance funds to the Association for any purpose whatsoever. The Association shall pay the Agent a management fee of: A. $xxx.00 per month. This amount may be amended annually as evidenced by the budget approved by the Board of Directors of the Association. There will also be an initial Initials ________ Association set up fee of $xxx.00 B. The management fee shall be payable on the first day of each month in advance. No further charge shall be made by the Agent for services pursuant to Paragraph No.8, its services pursuant to Paragraph No.3 and the other services of the Agent’s professional staff except as otherwise expressly provided in this Agreement. C. Expenses incurred by Agent in communication with the Association will be considered an Association expense including but not limited to items such as postage, supplies, mailings, invoices, out of area excessive and/or unusual in nature association related phone calls, licensing fees and all fees related to the Association. Additional charges outside of the agreed terms shall be paid by the Association in accordance with “Exhibit B”. The charges described in “Exhibit C” attached hereto shall be charged to the applicable owner and subject to change by the Agent. 8. The Agent shall assign a qualified property manager for the Association. Agent shall attend one Annual Meeting of the Association and Board of Directors meetings as mutually determined by both parties and/or as required however, not to exceed four (4) Board of Directors meetings per year. Agent shall be paid a fee for any additional meetings including special meetings of the members as set forth in “Exhibit B”. 9. The Agent and Board shall mutually designate a Board member(s) who shall be authorized to deal with the Agent on any matter relating to the management of the Association. The Agent is directed not to accept directions or instructions with regard to the management of the Association from anyone else. 10. The Agent shall no have authority to make any structural changes of the facility or common areas or to make any other major alterations or additions in or to any building or equipment therein. Notwithstanding the foregoing, the Agent shall be authorized to cause to be performed emergency repairs as may be necessary and required because of danger to life and property, or as immediately necessary for the preservation and safety of the Association, or the safety of the owners, or as required to avoid suspension of any services to the Association. 11. The Association shall indemnify and hold the Agent, its directors, officers, employees, agents, successors and assigns (each an “Indemnified Party”) harmless from and against any and all claims, liabilities, damages, losses, obligations, judgments, liens, debts, settlement payments, liquidated damages, proceedings, costs (including without limitation operating costs, court costs, arbitration and/or mediation costs, attorneys’ and paralegals’ fees (whether such attorneys’ and paralegals’ fees are incurred in court, out of court, on appeal, or in bankruptcy proceedings), penalties of any kind, and interest charged on any of the foregoing amounts (each an “Indemnified Loss”), incurred in connection with, arising out of, or resulting from (1) the management of the Association; (2) liability arising out of injuries sustained by persons or to property in or about the Association (including without limitation any and all liabilities arising out of the negligent acts and/or omissions of an Indemnified Party); (3) use or occupancy of the Association by any person; (4) any violation of federal, state or municipal law, regulation or ordinance; and (5) any claim for taxes or other charges which may be made against such Indemnified Party which are the primary responsibility of the Association. The Association shall promptly pay and reimburse each Indemnified Party for all costs and expenses incurred by such Indemnified Party in connection with a proceeding or other matter that constitutes or might give rise to an Indemnified Loss, in advance of a final disposition or adjudication of such proceeding or other matter. Such Indemnified Party shall repay to the Association any amount so advanced, if and to the extent that such Indemnified Party is not entitled to indemnification under this Agreement. The Association agrees that each Indemnified Party may employ attorneys of his, her or its own selection to appear and defend the claim or action on behalf Initials ________ of such Indemnified Party. Each Indemnified Party (or a related party, such as the Agent, and not the Association) will have authority for the direction of the defense, and will be the judge of the acceptability of any compromise or settlement of any and all claims or actions against such Indemnified Party. The indemnification provided for herein shall not be deemed exclusive of any other rights to which an Indemnified Party may be entitled and shall continue indefinitely. Similarly, the Association agrees that the indemnification provided for herein is separate from, and may be broader than, any duty to indemnify and/or defend under any insurance policy where the Agent is named as an additional insured thereunder. 12. The Association shall carry and maintain, at its sole expense, all liability and compensation insurance necessary and adequate to protect the interest of the Association and the Agent, which policies shall be written so as to protect the Agent in the same manner and to the same extent as the Association is protected. 13. Upon receipt of warranty information from the Association on installed equipment and structures, Agent shall monitor and ensure the utilization of such warranty provisions as dictated, when repairs are necessary. 14. This Agreement shall be binding upon and to the benefit of the successors and assigns of the Agent and the heirs, administrators, successors and assigns of the Association. 15. The prevailing party in any litigation brought to enforce the terms of this agreement shall be entitled to recover from the losing party reasonable attorney fees and court costs. 16. The terms and conditions of this contract can be amended from time to time with the consent of both parties. 17. This agreement can be canceled with or without cause by either party with a sixty (60) day notice by certified mail. Initials ________ IN WITNESS WHEREOF, the parties hereto have affixed or caused to be affixed their respective signatures this ____ day of ______________________, 20___. Homeowners Association, Inc. ________________________________ Witness BY:_______________________________ President of Association ________________________________ Witness BY:_______________________________ Secretary of Association RIZZETTA & COMPANY, INC. ________________________________ Witness Initials ________ BY:_______________________________ Agent “EXHIBIT A” SERVICES The services provided by the Agent shall be as follows: 1. Provide each owner a coupon booklet or a statement. The Agent will be responsible for depositing maintenance income and all forms of revenue, and will attempt to collect delinquent maintenance fees and special assessments, including the costs shown on “Exhibit B”. 2. Prepare a budget for approval by the Board of Directors. 3. Provide the Board of Directors with financial statements, including the following reports: a. b. c. d. e. f. g. Balance Sheet Income Statement Budget to Actual Summary Cash Reconciliation Accounts Receivable Report General Ledger Bank Statements-Upon request 4. Provide each owner with an annual financial report and approved budget. 5. Coordinate with Independent Certified Public Accountant to prepare and file required tax returns. Fee will be passed on to the Association for this service. 6. Obtain necessary permits and licenses. 7. Provide management service Monday through Friday, 8:00 a.m. to 5:00 p.m. Agent shall provide management services for emergencies after business hours. 8. Provide for bookkeeping and secretarial services necessary to maintain all financial records and correspondence essential to generally accepted accounting principles and business practices. 9. Manage subcontractors employed by the Association. 10. Manager to complete onsite visits/reviews at a rate of two (2) times per month. 11. Manager to attend four (4) meetings of the Board and one (1) Annual Meeting of the Membership. 12. Agent and Association (client) mutually designate official contact between Agent and Association. Initials ________ as the “EXHIBIT B” 1. Postage – cost. 2. Copies - $.15 each. Color copies - $1.00 each. 3. Labels - $.05 each. 4. Envelopes - $.15 each. Oversized envelopes - $.35 each. 5. Production Service Fees, (supplies not included). (Community mailings: meeting notices, newsletters, etc.) No envelope used = $.05 per piece. Envelope used = $.05 per piece. Oversized envelope used = $.10 per piece. 6. Fax - $1.00 per page. 7. Statements - $1.00 each. 8. Special Assessments - $3.50 per account per payment. 9. Court appearances/depositions - $125.00 per person per hour. 10. Property Manager’s attendance at meetings in excess of two (2) hours or attendance at additional Board or special meetings - $125.00 per hour. 11. File folders for Association’s records - $.15 each. 12. Association checks – cost. 13. Agent/Management Fees for additional services as requested by the Association - $125.00 per hour. (CC&R’s Education Seminar, Workshops, Committee Meetings, etc.) 14. Electronic means of communications – if applicable – cost. 15. Archiving records/storage - $20.00 per month. 16. Mileage reimbursement – current IRS rate. 17. Gate software/programming/distribution, (if applicable). $75.00 per month - one gate. $150.00 per month - two or more gates. 18. Website creation/set-up – available, additional fee for service. Website maintenance/content administrator – available, additional fee for service. Initials ________ “Exhibit C” The following expenses may not be the responsibility of the Association and charged to the owner: 1. 2. 3. 4. 5. 6. 7. 8. Delinquency/lien notice - $35.00 Lien preparation/cost - $75.00 NSF fee - $35.00 Closing estoppel letter/questionnaire - $75.00* PUD or condo questionnaire - $75.00* Transfer fee - $75.00 Gate remotes – cost Architectural Application processing fee – if mandated by Association Declaration * Provided through a third party online service provider – HomeWiseDocs.com www.homewisedocs.com Initials ________
