TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT

MIAMI-DADE COUNTY REGULAR BOARD MEETING FEBRUARY 24, 2025
6:30 P.M.

Special District Services, Inc. 8785 SW 165th Avenue, Suite 200
Miami, FL 33024

www.trailsatmontereycdd.org 786.347.2711 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA TRAILS OF MONTEREY
COMMUNITY DEVELOPMENT DISTRICT
Kendall Executive Center – Conference Room 8785 SW 165th Avenue, Suite 200
Miami, FL 33193
REGULAR BOARD MEETING
February 24, 2026
6:30 p.m.

Call to Order
Proof of Publication	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
October 28, 2025 Regular Board Meeting	Page 2
Old Business
Staff Report, as Required
New Business
Consider Resolution No. 2026-01 – Adopting a Fiscal Year 2026/2027 Proposed Budget	Page 6
Consider Approval of Attorneys Fee Adjustment – Billing Cochran	Page 13
Administrative Matters
Qualifying Period Announcement: Noon, June 8, 2026 – Noon, June 12, 2026 (Seats 3& 4)
Reminder: 2025 Form 1 – Statement of Financial Interest Disclosure (Due by July 1, 2026)
Board Member/Staff: Additional Comments/Requests
Adjourn

TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT REVISED FISCAL YEAR 2025/2026 REGULAR MEETING SCHEDULE

NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Trails at Monterey Community Development District will hold Regular Meetings at 6:30 p.m. in the Conference Room at the Kendall Executive Center located at 8785 SW 165th Avenue, Suite 200, Miami, Florida 33193, on the following dates:

February 24, 2026
April 28, 2026
June 23, 2026
August 25, 2026

The purpose of the meetings is to conduct any business coming before the Board. Meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Copies of the Agendas for any of the meetings may be obtained from the District’s website www.trailsatmontereycdd.org or by contacting the District Manager at nnguyen@sdsinc.org and/or toll free at 1-877-737-4922.

From time to time one or two Supervisors may participate by telephone; therefore, a speaker telephone will be present at the meeting location so that the Supervisors may be fully informed of the discussions taking place. Said 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 ensure 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 accommodations or an interpreter to participate at any of these meetings should contact the District Manager at nnguyen@sdsinc.org 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.

TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT

www.trailsatmontereycdd.org

PUBLISH: MIAMI HERALD	2/13/26

Page 1

TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
OCTOBER 28, 2025

CALL TO ORDER

District Manager, Nancy Nguyen called the Trails at Monterey Community Development District (the “District”) Regular Board Meeting of October 28, 2025, to order at 6:30 p.m. in the Comfort Suites Miami-Kendall Conference Room A located at 3901 SW 117th Avenue, Miami, Florida 33175.

PROOF OF PUBLICATION

Ms. Nguyen presented proof of publication that notice of the Regular Board Meeting had been published in the Miami Herald on October 17, 2025, as part of the District’s Fiscal Year 2025/2026 Regular Meeting Schedule, as legally required.

ESTABLISH A QUORUM

Ms. Nguyen stated that the attendance of Chairman Juan Sanhueza, Vice Chairman Sebastian Hale, and Supervisor Jorge Garcia Hernandez constituted a quorum and it was in order to proceed with the meeting.

Staff in attendance included: District Manager Nancy Nguyen of Special District Services, Inc., and General Counsel Ginger Wald of Billing, Cochran, Lyles, Mauro & Ramsey, P.A.
CONSIDER RESIGNATION – KATHERINE CASTINERIAS (EFF. 6/20/25, SEAT 1)

Ms. Nguyen presented a resignation letter from Katherine Castineiras with an effective date of June 20, 2025, and stated that it would be in order for the Board of Supervisors (the “Board”) to consider. A discussion ensued after which:

A MOTION was made by Mr. Hale, seconded by Mr. Sanhueza and unanimously passed accepting the resignation of Katherine Castineiras, effective June 20, 2025.

Ms. Nguyen stated that there was now a vacancy in Seat 1, which term expires in November 2028.

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
April 29, 2025, Regular Board Meeting & Public Hearing

The minutes of the April 29, 2025, Regular Board Meeting and Public Hearing were presented for approval.

There being no changes, a MOTION was made by Mr. Sanhueza, seconded by Mr. Garcia Hernandez and unanimously passed approving the minutes of the April 29, 2025, Regular Board Meeting and Public Hearing, as presented.

OLD BUSINESS
Staff Report, as Required

There was no old business to discuss at this time.

NEW BUSINESS
Consider Resolution No. 2025-06 – Adopting a Fiscal Year 2024/2025 Amended Budget

Ms. Nguyen presented Resolution No. 2025-06, entitled:

RESOLUTION NO. 2025-06

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TRAILS AT MONTEREY 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.

Ms. Nguyen provided an explanation for the document. She indicated that there was an operating fund balance of approximately $200,000 at the end of the fiscal year. A discussion ensued after which:

A MOTION was made by Mr. Hale, seconded by Mr. Garcia Hernandez and unanimously passed adopting Resolution No. 2025-06, as presented, thereby setting the amended/revised budget for the 2024/2025 fiscal year.

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

Ms. Nguyen presented Resolution No. 2025-07, entitled:

RESOLUTION 2025-07

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

Ms. Nguyen read the title into the record and explained that pursuant to legislation enacted in 2024, effective October 1, 2024, the District is required to establish goals and objectives for the District and to adopt performance measures and standards to evaluate the District’s achievement of these goals and objectives. She further noted that at the conclusion of each fiscal year, the Board must review and determine whether such goals have been met.

Ms. Nguyen presented the goals and objectives adopted by the District in 2024 and advised that it was in order for the Board to determine if the goals had been met. Following discussion, the Board determined that all goals had been successfully achieved for fiscal year 2024/2025.

A MOTION was made by Mr. Hale, seconded by Mr. Garcia Hernandez and unanimously passed adopting Resolution No. 2025-07, as presented, further adopting the Trails at Monterey Community Development District’s Goals and Objectives Annual Report.

A discussion regarding the goals and objectives for fiscal year 2025/2026 took place, after which:

A MOTION was made by Mr. Garcia Hernandez, seconded by Mr. Hale and unanimously passed adopting the same goals and objectives for fiscal year 2025/2026.

Consider Resolution No. 2025-08 – Interlocal Agreement for Local Government Publications

Ms. Nguyen presented Resolution No. 2025-08, entitled:

RESOLUTION 2025-08

A RESOLUTION OF THE TRAILS AT MONTEREY 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

Ms. Nguyen explained that she would like to discuss the District’s required publications, and the costs associated with them. Ms. Nguyen stated that due to the closing of the Miami Daily Business Review, the District has had to advertise in The Miami Herald. Ms. Nguyen further explained that a standard publication costs approximately $800 with The Miami Herald. Ms. Nguyen noted that it has been determined that advertising on Miami-Dade County’s (the “County”) website meets Florida Statute requirements and the County’s attorney has authorized entering into an Interlocal Agreement (the “ILA”) with community development districts to allow them to advertise on the County’s website. She further noted that the cost to advertise on the County’s website for an unlimited amount of advertisements per year is $707. It was explained that the District would need to publish an initial annual advertisement in The Miami Herald notifying the public of its intent to advertise on the County’s website. Ms. Nguyen noted that this would still result in costs savings for the District.
Ms. Nguyen explained that this resolution authorizes Nancy Nguyen as District Manager, Juan Sanhuez as Chairman, and Sebastian Hale as Vice Chairman, to execute the ILA and any other documents related to the ILA.

A MOTION was made by Mr. Hale, seconded by Mr. Sanhueza and unanimously passed approving and adopting Resolution No. 2025-08; thereby authorizing Nancy Nguyen as District Manager, Juan Sanhuez as Chairman, and Sebastian Hale as Vice Chairman, to execute the Interlocal Agreement for government publication of legal advertisements and public notices and any other documents related to the Interlocal Agreement.

It was discussed that Comfort Suites Miami-Kendall charged $250 per meeting to be held at their venue. As a cost savings to the District, the Board asked Ms. Nguyen about the possibility of changing the meeting location to Ms. Nguyen’s office, where there would be no cost to the District. Ms. Nguyen informed the Board that should the meeting location be changed to her office, public hearings for assessment increases

could not be held there. The Board informed Ms. Nguyen that they will communicate with her if they feel that there will be a large public turnout for regular meetings. The Board consensus is that Public Hearings and meetings with an anticipated large turnout would be held at the Comfort Suites Miami-Kendall location.

A MOTION was made by Mr. Garcia Hernandez, seconded by Mr. Hale and unanimously passed authorizing the District Manager to advertise an updated Fiscal Year 2025/2026 Meeting Schedule, reflecting the change in meeting location, should the Kendall Executive Center board room located at 8785 SW 165th Avenue, Suite 200, Miami, Florida 33193 be available.

ADMINISTRATIVE MATTERS
2025 Legislative Update Memo (BCLMR)

Ms. Wald explained that her firm prepares an annual memorandum summarizing the legislative acts that had become law during the most recent legislative session. Ms. Wald provided the Board an explanation of the laws that pertain to the District. She further advised that if they had any questions regarding these new laws, they may contact her office or the District Manager.

BOARD MEMBER/STAFF CLOSING COMMENTS

The Board consensus was to cancel the December 16, 2025, Regular Board Meeting. There were no further comments from Board Members or District Staff.
ADJOURNMENT

There being no further business to come before the Board, a MOTION was made by Mr. Hale, seconded by Mr. Garcia Hernandez adjourning the meeting at 7:00 p.m. The MOTION carried unanimously.

ATTESTED BY:

Secretary/Assistant Secretary	Chair/Vice Chair

RESOLUTION NO. 2026-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE TRAILS AT MONTEREY 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 Trails at Monterey 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 TRAILS AT MONTEREY 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 23, 2026, at 6:30 p.m. in the Comfort Suites Miami - Kendall Conference Room, 3901 SW 117th Avenue, Miami, Florida 33175, for the purpose of receiving public comments on the Proposed Fiscal Year 2026/2027 Budget.

PASSED, ADOPTED and EFFECTIVE this 24th day of February, 2026.

ATTEST:	TRAILS AT MONTEREY
COMMUNITY DEVELOPMENT DISTRICT

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

Trails At Monterey 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
TRAILS AT MONTEREY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES	
FISCAL YEAR 2026/2027 BUDGET	
ADMINISTRATIVE ASSESSMENTS	57,438	
MAINTENANCE ASSESSMENTS	37,394	
DEBT ASSESSMENTS	219,413	
OTHER REVENUES	0	
INTEREST INCOME	1,320	
		
TOTAL REVENUES	$	315,565	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
AQUATIC/STORMWATER MANAGEMENT	7,850	
MITIGATION MAINTENANCE	2,300	
LAKE EASEMENT/LANDSCAPE MAINTENANCE	20,000	
ENGINEERING/INSPECTIONS	5,000	
TOTAL MAINTENANCE EXPENDITURES	$	35,150	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	5,000	
PAYROLL TAXES (EMPLOYER)	400	
MANAGEMENT	35,304	
SECRETARIAL	3,600	
LEGAL	10,500	
ASSESSMENT ROLL	6,000	
AUDIT FEES	3,700	
INSURANCE	7,800	
LEGAL ADVERTISING	3,250	
MISCELLANEOUS	1,100	
POSTAGE	500	
OFFICE SUPPLIES	550	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	4,260	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	750	
MEETING ROOM RENTAL	750	
TOTAL ADMINISTRATIVE EXPENDITURES	$	83,989	
		
TOTAL EXPENDITURES	$	119,139	
		
REVENUES LESS EXPENDITURES	$	196,426	
		
BOND PAYMENTS	(206,248)	
		
BALANCE	$	(9,822)	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(6,285)	
DISCOUNTS FOR EARLY PAYMENTS	(12,570)	
		
EXCESS/ (SHORTFALL)	$	(28,677)	
		
CARRYOVER FROM PRIOR YEAR	28,677	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
TRAILS AT MONTEREY 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	58,190	57,438	57,438	Expenditures Less Interest & Carryover/.94	
MAINTENANCE ASSESSMENTS	37,396	37,394	37,394	Expenditures/.94	
DEBT ASSESSMENTS	219,413	219,413	219,413	Bond Payments/.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	8,953	1,200	1,320	Interest Projected At $110 Per Month	
					
TOTAL REVENUES	$	323,952	$	315,445	$	315,565		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
AQUATIC/STORMWATER MANAGEMENT	7,770	7,850	7,850	No Change From 2025/2026 Budget	
MITIGATION MAINTENANCE	1,599	2,300	2,300	No Change From 2025/2026 Budget	
LAKE EASEMENT/LANDSCAPE MAINTENANCE	16,090	20,000	20,000	No Change From 2025/2026 Budget	
ENGINEERING/INSPECTIONS	3,907	5,000	5,000	No Change From 2025/2026 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	29,366	$	35,150	$	35,150		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	1,800	5,000	5,000	No Change From 2025/2026 Budget	
PAYROLL TAXES (EMPLOYER)	138	400	400	Projected At 8% Of Supervisor Fees	
MANAGEMENT	33,420	34,380	35,304	CPI Adjustment	
SECRETARIAL	3,600	3,600	3,600	No Change From 2025/2026 Budget	
LEGAL	7,533	10,500	10,500	No Change From 2025/2026 Budget	
ASSESSMENT ROLL	6,000	6,000	6,000	As Per Contract	
AUDIT FEES	3,500	3,600	3,700	Accepted Amount For 2025/2026 Audit	
INSURANCE	6,858	7,260	7,800	Fiscal Year 2025/2026 Expenditure Was $7,269	
LEGAL ADVERTISING	2,321	3,500	3,250	$250 Decrease From 2025/2026 Budget	
MISCELLANEOUS	1,021	1,100	1,100	No Change From 2025/2026 Budget	
POSTAGE	168	500	500	No Change From 2025/2026 Budget	
OFFICE SUPPLIES	200	600	550	$50 Decrease From 2025/2026 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2025/2026 Budget	
TRUSTEE FEES	4,256	4,260	4,260	No Change From 2025/2026 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2025/2026 Budget	
WEBSITE MANAGEMENT	750	750	750	No Change From 2025/2026 Budget	
MEETING ROOM RENTAL	750	0	750	Meeting Room Rental	
TOTAL ADMINISTRATIVE EXPENDITURES	$	72,840	$	81,975	$	83,989		
					
TOTAL EXPENDITURES	$	102,206	$	117,125	$	119,139		
					
REVENUES LESS EXPENDITURES	$	221,746	$	198,320	$	196,426		
					
BOND PAYMENTS	(209,340)	(206,248)	(206,248)	2027 Principal & Interest Payments	
					
BALANCE	$	12,406	$	(7,928)	$	(9,822)		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(3,032)	(6,285)	(6,285)	Two Percent Of Total Tax Roll	
DISCOUNTS FOR EARLY PAYMENTS	(11,398)	(12,570)	(12,570)	Four Percent Of Total Tax Roll	
					
EXCESS/ (SHORTFALL)	$	(2,024)	$	(26,783)	$	(28,677)		
					
CARRYOVER FROM PRIOR YEAR	0	26,783	28,677	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(2,024)	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
TRAILS AT MONTEREY 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	

Interest Income	
10,946	
400	
500	
Projected Interest For 2026/2027	

NAV Tax Collection	
209,340	
206,248	
206,248	
Maximum Debt Service	

Total Revenues	
$	220,286	
$	206,648	
$	206,748		

EXPENDITURES					

Principal Payments	
140,000	
140,000	
150,000	
Principal Payment Due In 2027	

Interest Payments	
66,423	
63,518	
51,075	
Interest Payments Due In 2027	

Bond Redemption	
0	
3,130	
5,673	

Estimated Excess Debt Collections	

Total Expenditures	
$	206,423	
$	206,648	
$	206,748		

Excess/ (Shortfall)	
$	13,863	
$	-	
$	-		

Series 2012 Refunding Bonds Information
Original Par Amount =	$2,830,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	1.75% - 4.25%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	May 2012			
Maturity Date =

Par Amount As Of 1/1/26 =	May 2033

$1,355,000			

Trails At Monterey Community Development District Assessment Comparison

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

Administrative	

$	137.75	

$	137.75	

$	137.75	

$	137.75	

$	

137.75	
Maintenance	$	89.68	$	89.68	$	89.68	$	89.68	$	89.68	
Debt	 $	526.17	 $	526.17	 $	526.17	 $	526.17	 $	526.17	
Total	$	753.60	$	753.60	$	753.60	$	753.60	$	753.60	

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

Community Information:
Total Units	417

LAW  FF\CcS
BILLING@COCHRAN
ESTABLISHED 1977

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 (1947-1998)

BILLING COCHRAN, P,A,
LAS OLAS SQUARE, SUITE 600
515 EAST LAS OLAS BOULEVARD FORT LAUDERDALE, FLORrDI\ 3330 l
(954) 764-7150
{954) 764-'7279 FAX

PGA NATIONAL OFFICE CENTER
300 AVENUE Of THE C AMPIONS, SUITE 270
PALM BEACH GARDENS, FLORIDA 33418
(561) 659-5970
1561) 659-6173 FAX

CHRISTINE A. BROWN GABRIELLA A. FERNANDEZ PEREZ
MARLENE E. GONZALEZ LORl B, LEWELLEN Li ZA E. SMOKER LUCAS A, WILLIAMS
OF COUNSEL: CLARK J, COCHRAN, JR.
SUSAN F. DELEGAL DENNISE. LYLES BRUCE M, RAMSEY

HAYWARD D, GAV (1943-2007)		

RICHARDT. WOULFE

WWW. Bl LL! NGCDCH RAN .COM PLEASE f\,EPLY TO: FOf\T 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

Dear Gloria:

Re:	Adjustment to District Counsel Fee Structure
Trails at Monterey Community Development D.istrict Our File: 812.06090

This finn s current fee structure has been in pl.ace 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:

Attomeys/Partn.ers:
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 Consumer 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 Cow1sel as well as your comtesy and cooperation with regard to the necessity of what we believe to be both infrequent and reasonable adjustments to our schedule of professional fees.
MJP/jmp
cc: Brielle Barba, SOS (via email only)