Magic Place Community Development District

3501 Quadrangle Boulevard, Suite 270, Orlando, FL 32817
Phone: 407-723-5900, Fax: 407-723-5901
www.magicplacecdd.com

The following is the agenda for the Board of Supervisors’ Meeting for the Magic Place

Community Development District (“District”), scheduled to begin at 10:00 a.m. on May 11, 2026, at 7430 Brooklyn Dr., Kissimmee, FL 34747. If you have questions or comments on the Board Meeting, please contact the District Manager’s office at (407) 723-5900. A quorum consisting of at least three of the five Board Members will be confirmed prior to the start of the Board Meeting.

For those unable to attend in person, you may participate by telephone:

Call in number: 1-844-621-3956

Passcode: 2539 895 0958 #

BOARD OF SUPERVISORS’ MEETING AGENDA

Administrative Matters




1.
2.

Call to Order Roll Call
Public Comment Period
Nomination(s) for Vacant Seat 5 (term expires11/2026)
Review of Letter from the Osceola County Supervisor of Elections Regarding Number of Registered Voters
Consideration of the Minutes of the April 6, 2026, Board of Supervisors Meeting Consideration of Resolution 2026-03, Designating a Date, Time, and Location for the Landowner Meeting [suggested date: November 2, 2026]

3.
4.

General Business Matters

5.

Consideration of Resolution 2026-04, Approving a Preliminary Budget for FY 2027

and Setting a Public Hearing Date Thereon [suggested date: August 3, 2026] Ratification of First Supplemental Declaration to the Master Declaration of Covenants, Conditions and Restrictions for Magic Place
Discussion Regarding Damaged Landscape Material

6.

7.



Landscape Restoration Proposal (s) (provided under separate cover)

8.

Consideration of Change to Current Landscape and Maintenance Contractor
Landscape and Maintenance Proposal
Paradise Lawns Landscaping Inc.



Termination of Landscape and Maintenance Agreement with Dora Landscaping LLC

9.

Review and Acceptance of FY25 Audit Report

Ratification of Payment Authorization Nos. 84 – 87
Review of District Financial Statements
Other Business



Staff Reports
District Counsel

District Engineer
Report on Outstanding Items Needed for Completion Certificate
District Manager
Form 1 Filing – July 1 Deadline
[next meeting – June 1, 2026] Audience Comments
Supervisor Requests




Adjournment

Magic Place Community Development District

Nomination(s) for Vacant Seat 5
(Term Expires 11/2026)

Magic Place Community Development District

Review of Letter from the Osceola County Supervisor of Elections Regarding Number of Registered Voters

MARY JANE ARRINGTON
OSCEOLA COUNTY SUPERVISOR OF ELECTIONS

April 24, 2026

Ms. Jane Gaarlandt Senior District Manager
PFM Group Consulting, LLC. 3501 Quadrangle Blvd.
Suite 270
Orlando, FL 32817

RE:

Magic Place Community Development District — Registered Voters

Dear Ms. Gaarlandt:
Thank you for your letter requesting confirmation of the number of registered voters within the Magic Place Community Development District as of April 15, 2026.
The number of registered voters within the Magic Place CDD is zero as of April 15, 2026.

If I can be of further assistance, please contact me at 407.742.6000.
Respectfully yours,

Maiy Jane Arlington
Supervisor of Elections

2509 East Irlo Bronson Memorial Highway • Kissimmee, FL 34744 407.742.6000 • Fax: 407. 742.6001 • www.voteosceola.com

Magic Place Community Development District

Consideration of the Minutes of the April 6, 2026, Board of Supervisors Meeting

MINUTES OF MEETING

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS’ MEETING
Monday, April 6, 2026, at 10:00 a.m.
7430 Brooklyn Dr.
Kissimmee, FL 34747

Board Members in attendance:

Doris Houck Nayara Longaray Frederico Gontijo

Chairperson Vice Chair
Assistant Secretary

Also Present:

Jane Gaarlandt Gazmin Kerr Audrey Ryan Mark Watts Steven Boyd

PFM PFM PFM
Cobb Cole
Boyd Civil Engineering

(via phone) (via phone) (via phone) (via phone)

FIRST ORDER OF BUSINESS

Administrative Matters

Call to Order/Roll Call

Ms. Gaarlandt called to order the Board of Supervisors’ Meeting for the Magic Place Community Development District at 10:26 a.m. Roll call was taken.

Public Comment Period

There were no members of the public present.

Nomination(s) for Vacant Seat 5 (term expires 11/2026)

There were no nominations at this time.

This item was deferred.

Consideration of the Minutes of the February 2, 2026, Board of Supervisors’ Meeting

The Board reviewed the minutes.

SECOND ORDER OF BUSINESS

General Business Matters

Ratification

of

Landscape

Maintenance Agreement with Blue Grass Corporation

Ms. Gaarlandt presented the agreement and noted the work has been completed.

Discussion Regarding Damaged Landscape Material

Landscape Proposal (s)

Restoration

Mr. Gontijo gave an overview and noted this is for landscaping that was damaged due to frost and downed trees. Proposals are still being gathered.

There was brief discussion regarding the damaged landscaping and the budget.

Mr. Gontijo will send proposals to District Management once received.

This item was deferred.

Consideration

of

Change

to and

Current

Landscape

Maintenance Contractor
Landscape

and

Maintenance Proposal (s)



Termination and Agreement

of Landscape Maintenance

with

Dora

Landscaping LLC

On motion by Ms. Houck, seconded by Ms. Longaray, with all in favor, the Board of Supervisors for the Magic Place Community Development District ratified the Landscape Maintenance Agreement with Blue Grass Corporation.

On motion by Ms. Houck, seconded by Ms. Longaray, with all in favor, the Board of Supervisors for the Magic Place Community Development District approved the Minutes of the February 2, 2026, Board of Supervisor’s Meeting.

Mr. Gontijo noted the current services are not up to standard.

There was brief discussion regarding the termination clause and gathering proposals for a new vendor.

Proposals will be gathered and brought back for Board review.

This item was deferred.

Ratification of Data Sharing and Usage Agreement with Osceola County Property Appraiser

Ms. Gaarlandt noted this is a standard annual agreement.

Ratification

of

Payment

Authorizations Nos. 73 – 83

The Board reviewed the payment authorizations.

Ms. Gaarlandt noted these were solely included for ratification.

Review of District Financial Statements

The Board reviewed the monthly financials as of February 2026. It was noted the audit expense went over budget due to additional information requested as the auditor is new to the District.

There was brief discussion regarding the financial statements and upcoming expenses. It was noted another street is going to be added to the District, which will incur additional maintenance costs.

Ms. Gaarlandt noted the financials are for information only and require no Board action.

On motion by Ms. Houck, seconded by Ms. Longaray, with all in favor, the Board of Supervisors for the Magic Place Community Development District ratified Payment Authorizations Nos. 73 – 83.

On motion by Ms. Houck, seconded by Ms. Longaray, with all in favor, the Board of Supervisors for the Magic Place Community Development District ratified the Data Sharing and Usage Agreement with Osceola County Property Appraiser.

THIRD ORDER OF BUSINESS

Other Business

Staff Reports

District Counsel –

No report.

District Engineer –

Mr. Boyd gave an update on the Certificate of Completion. It was noted there are still a few outstanding items, although the infrastructure is complete. Mr. Boyd recommended compiling a report on what is still needed for the Board’s review.

There was brief discussion regarding the report. Mr. Boyd noted he will have a report for the Board at the next meeting.

District Manager –

Ms. Gaarlandt noted that the next meeting is scheduled for May 4, 2026, at the current location.

Audience Comments

There were no audience comments.

Supervisors Requests

There were no Supervisor requests.

FOURTH ORDER OF BUSINESS

Adjournment

Secretary/Assistant Secretary

Chairman/Vice Chairman

On motion by Ms. Houck, seconded by Ms. Longaray, with all in favor, the April 6, 2026, Meeting of the Board of Supervisors for the Magic Place Community Development District was adjourned at 10:44 a.m.

Magic Place Community Development District

Consideration of Resolution 2026-03, Designating a Date, Time, and Location for the Landowner Meeting
[suggested date: November 2, 2026]

RESOLUTION 2026-03

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE

MAGIC	PLACE	COMMUNITY	DEVELOPMENT

DISTRICT

DESIGNATING  A  DATE,  TIME  AND  LOCATION  FOR  A

LANDOWNERS’ MEETING AND ELECTION; PROVIDING FOR

PUBLICATION; LANDOWNERS’

ESTABLISHING

FORMS

FOR

THE FOR

ELECTION;

AND

PROVIDING

SEVERABILITY AND AN EFFECTIVE DATE.

WHEREAS, Magic Place Community Development District (“District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within Osceola County, Florida; and

WHEREAS, pursuant to Section 190.006(1), Florida Statutes, the District’s Board of Supervisors (“Board”) “shall exercise the powers granted to the district pursuant to Chapter 190, Florida Statutes,” and the Board shall consist of five members; and

WHEREAS, the District is statutorily required to hold a meeting of the landowners of the District for the purpose of electing Board Supervisors for the District on the first Tuesday in November, which shall be noticed pursuant to Section 190.006(2), Florida Statutes.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF

SUPERVISORS

OF	MAGIC

PLACE	COMMUNITY

DEVELOPMENT DISTRICT:

1.

EXISTING BOARD SUPERVISORS; SEATS SUBJECT TO ELECTIONS. The

Board is currently made up of the following individuals:

Seat Number 1
2
3
4
5

Supervisor Frederico Pinheiro Gontijo
Doris Houck Nayara Longaray Sue Legentil Vacant

Term Expiration Date November 2026
November 2028
November 2026
November 2028
November 2026

This year, Seat 1, currently held by Frederico Pinheiro Gontijo, Seat 3, currently held by Nayara Longaray, and Seat 5, currently Vacant, are subject to election by landowners in November 2026. The two candidates receiving the highest number of votes shall be elected for a term of four (4) years. The candidate receiving the next highest number of votes shall be elected for a term of two (2) years. The term of office for each successful candidate shall commence upon election.

2.

LANDOWNERS’ ELECTION.	In accordance with Section 190.006(2), Florida

Statutes, the meeting of the landowners to elect Board Supervisor(s) of the District shall be held on the    day of November, 2026, at 	  .m., at 7430 Brooklyn Dr., Kissimmee, Florida 34747.

3.

PUBLICATION. The District’s Secretary is hereby directed to publish notice of the

landowners’ meeting and election in accordance with the requirements of Section 190.006(2), Florida Statutes.

1

4.

FORMS.  Pursuant to Section 190.006(2)(b), Florida Statutes, the landowners’

meeting and election have been announced by the Board at its April 17, 2024, meeting. A sample notice of landowners’ meeting and election, proxy, ballot form and instructions were presented at such meeting and are attached hereto as Exhibit A. Such documents are available for review and copying during normal business hours at the District’s Local Records Office, located at the office of the District Manager, PFM Group Consulting LLC, located at 3501 Quadrangle Boulevard, Suite 270, Orlando, Florida 32817.

5.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions

of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

6.

EFFECTIVE DATE. This Resolution shall become effective upon its passage.

PASSED AND ADOPTED this 11h day of May, 2026.

ATTEST:

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary

Chairperson, Board of Supervisors

Exhibit A:

Sample Election Documents

2

EXHIBIT A

NOTICE OF LANDOWNERS’ MEETING AND ELECTION AND MEETING OF THE BOARD OF SUPERVISORS OF THE MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT

Notice is hereby given to the public and all landowners within Magic Place Community Development District (“District”) the location of which is generally described as comprising a parcel or parcels of land containing approximately   acres, generally located in an area 	 in Osceola County, Florida, advising that a meeting of landowners will be held for the purpose of electing three (3) people to the District’s Board of Supervisors (“Board”, and individually, “Supervisor”). Immediately following the landowners’ meeting there will be convened a meeting of the Board for the purpose of considering certain matters of the Board to include election of certain District officers, and other such business which may properly come before the Board.

DATE: TIME: PLACE:

November 	, 2026
	 7430 Brooklyn Dr.
Kissimmee, Florida 34747

Each landowner may vote in person or by written proxy. Proxy forms may be obtained upon request at the office of the District Manager, PFM Group Consulting LLC, 3501 Quadrangle Boulevard, suite 270, Orlando, Florida 32817, Ph: (407) 723-5900 (“District Manager’s Office”). At said meeting each landowner or his or her proxy shall be entitled to nominate persons for the position of Supervisor and cast one vote per acre of land, or fractional portion thereof, owned by him or her and located within the District for each person to be elected to the position of Supervisor. A fraction of an acre shall be treated as one acre, entitling the landowner to one vote with respect thereto. Platted lots shall be counted individually and rounded up to the nearest whole acre. The acreage of platted lots shall not be aggregated for determining the number of voting units held by a landowner or a landowner’s proxy. At the landowners’ meeting the landowners shall select a person to serve as the meeting chair and who shall conduct the meeting.

The landowners’ meeting and the Board meeting are open to the public and will be conducted in accordance with the provisions of Florida law. One or both of the meetings may be continued to a date, time, and place to be specified on the record at such meeting. A copy of the agenda for these meetings may be obtained from the District Manager’s Office. There may be an occasion where one or more supervisors or staff will participate by telephone.

Any person requiring special accommodations to participate in these meetings is asked to contact the District Manager’s Office, at least 48 hours before the hearing. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) / 1-800-955-8770 (Voice), for aid in contacting the District Manager’s Office.

A person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that such person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which the appeal is to be based.

Jane Gaarlandt District Manager
Run Date(s): 	 & 	

PUBLISH: ONCE A WEEK FOR 2 CONSECUTIVE WEEKS, THE LAST DAY OF PUBLICATION TO BE NOT FEWER THAN 14 DAYS OR MORE THAN 28 DAYS BEFORE THE DATE OF ELECTION, IN A NEWSPAPER WHICH IS IN GENERAL CIRCULATION IN THE AREA OF THE DISTRICT

3

INSTRUCTIONS RELATING TO LANDOWNERS’ MEETING OF MAGIC PLACE
COMMUNITY DEVELOPMENT DISTRICT FOR THE ELECTION OF SUPERVISORS

DATE OF LANDOWNERS’ MEETING: November 	, 2026

TIME: 	.M.

LOCATION: 7430 Brooklyn Dr., Kissimmee, FL 34747

Pursuant to Chapter 190, Florida Statutes, and after a Community Development District (“District”) has been established and the landowners have held their initial election, there shall be a subsequent landowners’ meeting for the purpose of electing members of the Board of Supervisors (“Board”) every two years until the District qualifies to have its board members elected by the qualified electors of the District. The following instructions on how all landowners may participate in the election are intended to comply with Section 190.006(2)(b), Florida Statutes.

A landowner may vote in person at the landowners’ meeting, or the landowner may nominate a proxy holder to vote at the meeting in place of the landowner. Whether in person or by proxy, each landowner shall be entitled to cast one vote per acre of land owned by him or her and located within the District, for each position on the Board that is open for election for the upcoming term. A fraction of an acre shall be treated as one (1) acre, entitling the landowner to one vote with respect thereto. For purposes of determining voting interests, platted lots shall be counted individually and rounded up to the nearest whole acre. Moreover, please note that a particular parcel of real property is entitled to only one vote for each eligible acre of land or fraction thereof; therefore, two or more people who own real property in common, that is one acre or less, are together entitled to only one vote for that real property.

At the landowners’ meeting, the first step is to elect a chair for the meeting, who may be any person present at the meeting. The landowners shall also elect a secretary for the meeting who may be any person present at the meeting. The secretary shall be responsible for the minutes of the meeting. The chair shall conduct the nominations and the voting. If the chair is a landowner or proxy holder of a landowner, he or she may nominate candidates and make and second motions. Candidates must be nominated and then shall be elected by a vote of the landowners. Nominees may be elected only to a position on the Board that is open for election for the upcoming term.

This year, three (3) seats on the Board will be up for election by landowners. The two candidates receiving the highest number of votes shall be elected for a term of four (4) years. The candidate receiving the next highest number of votes shall be elected for a term of two (2) years. The term of office for each successful candidate shall commence upon election.

A proxy is available upon request. To be valid, each proxy must be signed by one of the legal owners of the property for which the vote is cast and must contain the typed or printed name of the individual who signed the proxy; the street address, legal description of the property or tax parcel identification number; and the number of authorized votes. If the proxy authorizes more than one vote, each property must be listed and the number of acres of each property must be included. The signature on a proxy does not need to be notarized.

4

LANDOWNER PROXY

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA
LANDOWNERS’ MEETING – NOVEMBER 	, 2026

KNOW ALL MEN BY THESE PRESENTS, that the undersigned, the fee simple owner of the lands described herein, hereby constitutes and appoints 	 (“Proxy Holder”) for and on behalf of the undersigned, to vote as proxy at the meeting of the landowners of the Magic Place Community Development District to be held at 7430 Brooklyn Dr., Kissimmee, FL 34747, on November   , 2026, at 	.m., and at any adjournments thereof, according to the number of acres of unplatted land and/or platted lots owned by the undersigned landowner that the undersigned would be entitled to vote if then personally present, upon any question, proposition, or resolution or any other matter or thing that may be considered at said meeting including, but not limited to, the election of members of the Board of Supervisors. Said Proxy Holder may vote in accordance with his or her discretion on all matters not known or determined at the time of solicitation of this proxy, which may legally be considered at said meeting.

Any proxy heretofore given by the undersigned for said meeting is hereby revoked. This proxy is to continue in full force and effect from the date hereof until the conclusion of the landowners’ meeting and any adjournment or adjournments thereof, but may be revoked at any time by written notice of such revocation presented at the landowners’ meeting prior to the Proxy Holder’s exercising the voting rights conferred herein.

Printed Name of Legal Owner

Signature of Legal Owner

Date

Parcel Description

Acreage

Authorized Votes

[Insert above the street address of each parcel, the legal description of each parcel, or the tax identification number of each parcel. If more space is needed, identification of parcels owned may be incorporated by reference to an attachment hereto.]

Total Number of Authorized Votes:

NOTES: Pursuant to Section 190.006(2)(b), Florida Statutes (2019), a fraction of an acre is treated as one
(1) acre entitling the landowner to one vote with respect thereto. For purposes of determining voting interests, platted lots shall be counted individually and rounded up to the nearest whole acre. Moreover, two (2) or more persons who own real property in common that is one acre or less are together entitled to only one vote for that real property.

If the fee simple landowner is not an individual, and is instead a corporation, limited liability company, limited partnership or other entity, evidence that the individual signing on behalf of the entity has the authority to do so should be attached hereto (e.g., bylaws, corporate resolution, etc.).

5

OFFICIAL BALLOT

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT
OSCEOLA COUNTY, FLORIDA LANDOWNERS’ MEETING - NOVEMBER 	, 2026

For Election (3 Supervisors): The two (2) candidates receiving the highest number of votes will each receive a four (4) year term, and the one (1) candidate receiving the next highest number of votes will receive a two (2) year term, with the term of office for the successful candidates commencing upon election.

The undersigned certifies that he/she/it is the fee simple owner of land, or the proxy holder for the fee simple owner of land, located within the Winter Garden Village at Fowler Groves Community Development District and described as follows:

Description

Acreage

[Insert above the street address of each parcel, the legal description of each parcel, or the tax identification number of each parcel.] [If more space is needed, identification of parcels owned may be incorporated by reference to an attachment hereto.]

or

Attach Proxy.

I, 	,  as  Landowner,  or  as the proxy  holder  of
	 (Landowner) pursuant to the Landowner’s Proxy attached hereto, do cast my votes as follows:

Date: 	

Signed: 		 Printed Name: 	

6

SEAT #

NAME OF CANDIDATE

NUMBER OF VOTES

1

3

5

Magic Place Community Development District

Consideration of Resolution 2026-04, Approving a Preliminary Budget for FY 2027 and Setting a Public Hearing Date Thereon
[suggested date: August 3, 2026]

RESOLUTION 2026-04

A	RESOLUTION	OF	THE	BOARD	OF	SUPERVISORS	OF	THE	MAGIC

PLACECOMMUNITY

DEVELOPMENT

DISTRICT

APPROVING

PROPOSED

BUDGET(S) FOR FISCAL YEAR 2026/2027; DECLARING SPECIAL ASSESSMENTS TO
FUND THE PROPOSED BUDGET(S) PURSUANT TO CHAPTERS 170, 190 AND 197, FLORIDA STATUTES; SETTING PUBLIC HEARINGS; ADDRESSING PUBLICATION; ADDRESSING SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has heretofore prepared and submitted to the Board of
Supervisors (“Board”) of the Magic Place Community Development District (“District”) prior to June 15, 2026, proposed budget(s) (“Proposed Budget”) for the fiscal year beginning October 1, 2026 and ending September 30, 2027 (“Fiscal Year 2026/2027”); and

WHEREAS, it is in the best interest of the District to fund the administrative and
operations services (together, “Services”) set forth in the Proposed Budget by levy of special assessments pursuant to Chapters 170, 190 and 197, Florida Statutes (“Assessments”), as set forth in the preliminary assessment roll included within the Proposed Budget; and

WHEREAS, the District hereby determines that benefits would accrue to the properties
within the District, as outlined within the Proposed Budget, in an amount equal to or in excess of the Assessments, and that such Assessments would be fairly and reasonably allocated as set forth in the Proposed Budget; and

WHEREAS, the Board has considered the Proposed Budget, including the Assessments,
and desires to set the required public hearings thereon;

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE
MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT:

1.

PROPOSED BUDGET APPROVED. The Proposed Budget prepared by the District

Manager for Fiscal Year 2026/2027 attached hereto as Exhibit A is hereby approved as the basis
for conducting a public hearing to adopt said Proposed Budget.

2.

DECLARING ASSESSMENTS.	Pursuant to Chapters 170, 190 and 197, Florida

Statutes, the Assessments shall defray the cost of the Services in the total estimated amounts set
forth in the Proposed Budget. The nature of, and plans and specifications for, the Services to be funded by the Assessments are described in the Proposed Budget and in the reports (if any) of the District Engineer, all of which are on file and available for public inspection at the “District’s Office,” 3501 Quadrangle Boulevard, Suite 270, Orlando, Florida 32817. The Assessments shall be levied within the District on all benefitted lots and lands, and shall be apportioned, all as described in the Proposed Budget and the preliminary assessment roll included therein. The preliminary assessment roll is also on file and available for public inspection at the District’s Office. The Assessments shall be paid in one or more installments pursuant to a bill issued by the

District in November of 2026, and pursuant to Chapter 170, Florida Statutes, or, alternatively,
pursuant to the Uniform Method as set forth in Chapter 197, Florida Statutes.

3.

SETTING PUBLIC HEARINGS.  Pursuant to Chapters 170, 190, and 197, Florida

Statutes, public hearings on the approved Proposed Budget and the Assessments are hereby
declared and set for the following date, hour and location:

DATE:
HOUR: LOCATION:

August 3, 2026
10:00 a.m.
7430 Brooklyn Dr.
Kissimmee, FL 34747

4.

TRANSMITTAL

OF	PROPOSED	BUDGET	TO	LOCAL	GENERAL	PURPOSE

GOVERNMENT(S). The District Manager is hereby directed to submit a copy of the Proposed
Budget to Osceola County at least 60 days prior to the hearing set above.

5.

POSTING OF PROPOSED BUDGET. In accordance with Section 189.016, Florida

Statutes, the District’s Secretary is further directed to post the approved Proposed Budget on the
District’s website at least two days before the budget hearing date as set forth in Section 3, and shall remain on the website for at least 45 days.

6.

PUBLICATION OF NOTICE. The District shall cause this Resolution to be published

once a week for a period of two weeks in a newspaper of general circulation published in Osceola
County. Additionally, notice of the public hearings shall be published in the manner prescribed in Florida law.

7.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of

this Resolution shall not affect the validity or enforceability of the remaining portions of this
Resolution, or any part thereof.

8.

EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 11th DAY OF May, 2026.

ATTEST:

MAGIC PLACE COMMUNITY
DEVELOPMENT DISTRICT

Secretary

Chair/Vice Chair

Magic Place CDD
Proposed FY 2027 Budget

PFM Management Services LLC
3501 Quadrangle Blvd Suite 270
Orlando, FL 32817
407-723-5900

Exhibit A
Magic Place Community Development District Proposed FY2027 Operations & Maintenance Budget

Actual Through 03/31/26

Anticipated Apr - Sept.

Anticipated FY 2026 Total

FY 2026
Adopted Budget

FY 2027
Proposed Budget

Revenues
On- Roll Assessment Interest Income Carry Forward
Other Income & Other Financing Sources
Net Revenues

$

18,255.61
3,346.25
- 3,073.96

$

484,999.39
-
-
-

$

503,255.00
3,346.25
- 3,073.96

$

503,255.00
-
-
-

$

503,255.00
- 11,745.00
-

$

24,675.82

$

484,999.39

$

509,675.21

$

503,255.00

$

515,000.00

CDD General & Administrative Expenses
Supervisor Fees Trustee Services Management Engineering Disclosure Agent Property Appraiser District Counsel Postage & Shipping
Assessment Administration Re-Amortization Schedule Arbitrage
Audit
Legal Advertising Miscellaneous Website Maintenance
Dues, Licenses, and Fees
Public Officials' Liability Insurance General Liability Insurance Additional Insurance
Irrigation
Lake Maintenance
Landscaping Maintenance and Material Streetlights
Tax Preparation Fee Contingency
Total Expenses

$

400.00
5,601.92
16,500.00
1,365.00
1,250.00
267.92
1,213.50
0.74
7,500.00
-
- 4,100.00
261.97
- 1,050.00
175.00
3,466.00
4,236.00
500.00
15,632.44
- 70,667.34
12,141.17
12.84
-

$

600.00
- 16,500.00
5,000.00
3,750.00
- 10,000.00
200.00
-
- 500.00
- 1,800.00
125.00
1,650.00
-
-
-
- 50,000.00
6,000.00
123,150.00
20,000.00
- 1,442.50

$

1,000.00
5,601.92
33,000.00
6,365.00
5,000.00
267.92
11,213.50
200.74
7,500.00
- 500.00
4,100.00
2,061.97
125.00
2,700.00
175.00
3,466.00
4,236.00
- 65,632.44
6,000.00
193,817.34
32,141.17
12.84
1,442.50

$

- 6,000.00
33,000.00
10,000.00
5,000.00
400.00
20,000.00
400.00
7,500.00
250.00
500.00
3,600.00
3,600.00
250.00
2,700.00
175.00
3,679.00
4,496.00
500.00
100,000.00
12,000.00
246,300.00
40,000.00
20.00
2,885.00

$

2,000.00
6,000.00
35,000.00
10,000.00
5,000.00
400.00
20,000.00
400.00
7,500.00
250.00
600.00
4,500.00
3,600.00
250.00
2,700.00
175.00
4,000.00
5,000.00
550.00
100,000.00
15,000.00
250,000.00
40,000.00
50.00
2,025.00

$

146,341.84

$

240,717.50

$

386,559.34

$

503,255.00

$

515,000.00

Page 1 of 6

Magic Place Community Development District
Fiscal Year 2027

Budget Item Description

Revenues:

On-Roll Assessments

The District can levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the Fiscal Year. Assessments collected via the tax collector are referred to as “On-Roll Assessments.”

Administrative Expenditures:

Supervisor Fees

Chapter 190 of the Florida Statutes allows for a member of the Board of Supervisors to be compensated for meeting attendance and to receive up to $200.00 per meeting plus payroll taxes. The amount for the Fiscal Year is based upon all supervisors attending the meetings.

Trustee Services

The Trustee submits invoices annually for services rendered on bond series. These fees are for maintaining the District’s trust accounts.

Management

The District receives Management and Administrative services as part of a Management Agreement with PFM Group Consulting, LLC. These services are further outlined in Exhibit “A” of the Management Agreement.

Engineering

The District’s engineer provides general engineering services to the District. Among these services are attendance at and preparation for monthly board meetings, review of invoices, and all other engineering services as requested by the District throughout the year.

Disclosure Agent

When bonds are issued for the District, the Bond Indenture requires continuing disclosure, which the disclosure agent provides to the trustee and bond holders.

Property Appraiser

Cost incurred for a copy of the annual parcel listing for parcels within the District from the county.

Page 2 of 6

Magic Place Community Development District
Fiscal Year 2027

District Counsel

The District’s legal counsel provides general legal services to the District. Among these services are attendance at and preparation for monthly board meetings, review of operating and maintenance contracts, and all other legal services as requested by the District throughout the year.

Postage & Shipping:

Mail, overnight deliveries, correspondence, etc.

Assessment Administration

The District can levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the Fiscal Year. It is typically collected via the Tax Collector. The District Manager submits an Assessment Roll to the Tax Collector annually by the deadline set by the Tax Collector or Property Appraiser.

Re-amortization Schedules

When debt is paid on a bond series, a new amortization schedule must be recalculated. This can occur up to four times per year per bond issue.

Arbitrage

Annual computations are necessary to calculate arbitrage rebate liability to ensure the District's compliance with all tax regulations.

Audit

Chapter 218 of the Florida Statutes requires a District to conduct an annual financial audit by an Independent Certified Public Accounting firm. Some exceptions apply.

Legal Advertising

The District will incur expenditures related to legal advertising. The items for which the District will advertise include, but are not limited to monthly meetings, special meetings, and public hearings for the District.

Miscellaneous

Other expenses incurred throughout the year.

Website Maintenance

Website maintenance fee.

Dues, Licenses & Fees

The District is required to pay an annual fee to the Department of Economic Opportunity.

Page 3 of 6

Magic Place Community Development District
Fiscal Year 2027
Public Officials’ Liability (POL) Insurance

Supervisors’ and Officers’ liability insurance.

General Liability Insurance

General liability insurance.

Additional Insurance

Additional liability insurance.

Irrigation

Inspection and repair of irrigation system.

Lake Maintenance

Maintenance of lake owned by District.

Landscape Maintenance & Material

Contracted landscaping and Common Area Maintenance within the boundaries of the District.

Streetlights

Streetlighting expenses within the District.

Tax Preparation Fee

The IRS requires the annual 1099 processing to be electronically filed. These are the fee association with the electronic filing using tax1099.com.

Contingency

Other expenses incurred throughout the year.

Page 4 of 6

Magic Place Community Development District FY 2027 Adopted Debt Service Budget

FY2027 Adopted Series 2019 Budget

REVENUES:

Special Assessments

$

1,494,253.13

TOTAL REVENUES

 $	1,494,253.13 

EXPENDITURES:

Interest 11/01/2026 Interest 5/1/2027 Principal 5/1/2027

$
$
$

372,237.50
385,000.00
372,237.50

TOTAL EXPENDITURES

 $	1,129,475.00 

EXCESS REVENUES

 $	364,778.13 

Interest 11/01/2027

$

364,778.13

Page 5 of 6

Magic Place CDD Fiscal Year 2027 Assessment Schedule

FY 2027
O&M Assessment

Debt Assessment

Unit Type

Total

Platted Lots

$859.67

$2,613.58

$3,473.25

Page 6 of 6

Magic Place Community Development District

Ratification of First Supplemental Declaration to the Master Declaration of Covenants, Conditions and Restrictions for Magic Place

This instrument prepared by and return to:

Dan Bachrach, Esq. Foley & Lardner LLP
111 North Orange Avenue Suite 1800
Orlando, FL 32801
(407)244-3261

FIRST SUPPLEMENTAL DECLARATION

TO

MASTER DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS FOR MAGIC PLACE
(Phase 3)

THIS FIRST SUPPLEMENTAL DECLARATION TO MASTER DECLARATION OF

COVENANTS,	CONDITIONS	AND	RESTRICTIONS	FOR	MAGIC	PLACE

(“First by 4P is 7430

Supplemental Declaration”) is made this 	 day of 	, 2026, Development, LLC, a Florida limited liability company, whose post office address

Brooklyn Drive, Kissimmee, Florida 34747 (“Declarant”) together with Magic Village 3, LLC,

a Florida limited liability company, whose address is 7430 Brooklyn Drive, Kissimmee, Florida 34747 (“Land Owner”), owns fee simple title of record to portions of that certain property set

forth on Exhibit “A”.

Land Owner is joining in and executing this First Supplemental

Declaration solely as the owner of portions of the land which this First Supplemental Declaration

will encumber, and undertakes no other liability or responsibility as Declarant under this First Supplemental Declaration whatsoever. Declarant and Land Owner submit fee simple title to the property set forth on Exhibit “A” to the terms and conditions of this First Supplemental Declaration and the Master Declaration (as defined below). All terms used in this First Supplemental Declaration are defined in the Master Declaration of Covenants, Conditions and Restrictions for Magic Place, recorded in Book 5873, Page 2631 as Instrument Number 2021008685, as the same may be further amended from time to time (collectively, the “Master Declaration”).

WHEREAS, pursuant to Article II, Section B of the Master Declaration, Declarant may, in its sole discretion, by recording appropriate Supplemental Declarations, add any Additional Property or any other real property to Magic Place, as defined in the Master Declaration, and as further described below.

WHEREAS, the Master Declaration defines “Magic Place” as that property described in Exhibit “A” to the Master Declaration, and such additions thereto as may hereafter be brought

4842-9023-2810.2

within the jurisdiction of the Master Declaration; provided, however, Declarant reserves the right to withdraw from the provisions of the Master Declaration, such portion or portions of Magic Place as Declarant from time to time elects, upon the execution by Declarant of a Supplemental Declaration.

WHEREAS, Declarant, through this First Supplemental Declaration, desires to add real property as Additional Property to Magic Place, as described on Exhibit “A” (the “MV3 Phase 3 Property”).

WHEREAS, the MV3 Phase 3 Property was platted pursuant to that certain Magic Village Resort 3—Phase 2 and 3 Plat recorded in Plat Book 30, Pages 142 - 146 in the Official Records of Osceola County, Florida.

WHEREAS, Magic Village 3, LLC, a Florida limited liability company (“MV3 Owner”), is the owner of the MV3 Phase 3 Property, and is hereby executing this First Supplemental Declaration as the owner of the MV 3 Phase 3 Property and for the purpose of consenting to this First Supplemental Declaration and agrees, acknowledges and consents to the terms of this First Supplemental Declaration and the covenants, conditions, and restrictions set forth in the Master Declaration encumbering and being imposed on the MV3 Phase 3 Property.

NOW, THEREFORE, Declarant, in accordance with its reserved rights under Article II, Section B of the Master Declaration, together with the joinder and consent of MV3 Owner as the owner of the MV3 Phase 3 Property, hereby amends the Master Declaration as follows:

1.

Recitals. The recitals set forth above are true and correct and incorporated herein.

2.

Additional Property. The MV3 Phase 3 Property, as described on Exhibit “A”, is hereby added as Additional Property to Magic Place.

3.

Shared Area, Open Areas, Limited Shared Areas, and Club Property.

Those areas

designated on Exhibit “B”, are hereby dedicated as Shared Area, Open Areas, Limited

Shared Areas, Club Property, and/or CDD Property, as denoted on Exhibit “B”.

4.

AUs. The Additional Property comprises of 76 townhomes, which together with the existing 87 townhomes, shall comprise a total of 163 townhomes which are each attributed 1.25 AUs for a total of 203.75 AUs, in accordance with Article VI of the Master Declaration.

5.

Master Declaration Remains in Effect.

Except as expressly modified in this First

Supplemental Declaration and any other supplemental declaration and amendments, the Master Declaration shall remain in full force and effect.

6.

Severability. If any clause or provision of this First Supplemental Declaration, or the application of any such clause or provision to any person or circumstance, shall be held illegal, invalid or unenforceable under applicable present or future Laws, the remainder of this First Supplemental Declaration shall not be affected thereby. Also, if any clause

2

4842-9023-2810.2

or provision of this First Supplemental Declaration is illegal, invalid or unenforceable under any applicable present or future applicable laws, then such clause or provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such laws. Any clause or provision hereof that may prove illegal, invalid or unenforceable under any applicable present or future applicable Laws shall not affect the legality, validity or enforceability of any other clause or provision hereof.

7.

Captions. The captions preceding the various provisions of this First Supplemental Declaration have been inserted solely for convenience of reference and shall not be used in construing the Master Declaration.

8.

Execution. By its execution, Declarant certifies that this First Supplemental Declaration has been duly approved by Declarant. In addition, MV3 Owner, as the owner of a portion of the MV3 Phase 3 Property hereby joins this First Supplemental Declaration as the owner of a certain portion of the MV3 Phase 3 Property.

9.

Recordation. This First Supplemental Declaration shall take effect upon recordation in the applicable recording offices of Osceola County, Florida.

<Signatures on Following Pages>

3

4842-9023-2810.2

IN WITNESS WHEREOF, Declarant has caused these presents to be executed in its name and its seal to be affixed hereto as of the day and year first above written.

“Declarant”

WITNESSES:
(as to both signatories)

4P DEVELOPMENT, LLC, a Florida limited liability company

Signature

By: Fernanda Doria, Authorized Signatory

Print Name

Address

Print Name

Signature

By: Nayara Longaray, Authorized Signatory

Address

4

4842-9023-2810.2

STATE OF 	)
) SS. COUNTY OF 	)

The foregoing instrument was acknowledged before me by means of ( ) physical presence or ( ) online notarization this 		 day of 	, 2026 by Fernanda Doria, as an Authorized Signatory of 4P Development, LLC, a Florida limited liability company, on behalf of the company. She [	] is personally known to me or [	 ] has produced
	 as identification.

Notary Public
Print Name:	 My Commission Expires: 	

STATE OF 	)
) SS. COUNTY OF 	)

The foregoing instrument was acknowledged before me by means of ( ) physical presence or ( ) online notarization this 		 day of 	, 2026 by Nayara Longaray, as an Authorized Signatory of 4P Development, LLC, a Florida limited liability company, on behalf of the company. She [	] is personally known to me or [	 ] has produced
	 as identification.

Notary Public
Print Name:	 My Commission Expires: 	

5

4842-9023-2810.2

Joinder and Consent

Magic Village 3, LLC, a Florida limited liability company, as the owner of a portion of the MV3 Phase 3 Property, hereby consents to this First Supplemental Declaration and agrees, acknowledges and consents to the covenants, conditions, and restrictions set forth in the Master Declaration.

WITNESSES:
(as to both signatories)

MAGIC VILLAGE 3, LLC, a Florida limited liability company

Signature

By: Fernanda Doria, Authorized Signatory

Print Name

Address

Print Name

Signature

By: Nayara Longaray, Authorized Signatory

Address

6

4842-9023-2810.2

STATE OF 	)
) SS. COUNTY OF 	)

The foregoing instrument was acknowledged before me by means of ( ) physical presence or ( online notarization this 	 day of 	, 2026 by Fernanda Doria, as an Authorized Signatory of MAGIC VILLAGE 3, LLC, a Florida limited liability company, on behalf of the company. She [	] is personally known to me or [	] has produced
	 as identification.

)

Notary Public
Print Name:	 My Commission Expires: 	

STATE OF 	)
) SS. COUNTY OF 	)

The foregoing instrument was acknowledged before me by means of ( ) physical presence or ( online notarization this 	 day of 	, 2026 by Nayara Longaray, as an Authorized Signatory of MAGIC VILLAGE 3, LLC, a Florida limited liability company, on behalf of the company. She [	] is personally known to me or [	] has produced
	 as identification.

)

Notary Public
Print Name:	 My Commission Expires: 	

7

4842-9023-2810.2

Joinder and Consent

The undersigned as the owner of a portion of the MV3 Phase 3 Property, hereby consents to this First Supplemental Declaration and agrees, acknowledges and consents to the covenants, conditions, and restrictions set forth in the Master Declaration.

WITNESSES:

MAGIC PLACE COMMUNITY
DEVELOPMENT DISTRICT, a local
unit of special purpose government of the State of Florida, which has been created under the provisions of Chapter 190, Florida Statutes), as amended

t N

Print Name

The foregoing 	was acknowledged before me by means of &physical presence or O online

notarization this 	“	 day of M

2

byH,	w  as 	•w  of MAGIC PLACE

COMMUNITY DEVELOPMENT DISTPfCT, a local unit of special purpose government of the

State of Florida, which has been created under the provisions of Chapter 190, Florida Stattites), as

amended, on behalf of the entity, who identification.

is personally known to me or D has produced 	as

My commission expires:

OTAR	PUBLIC, State

 	

Large

8

4842-9023-2810.2

JME GSARLANDT
MY COMkllSSl0N # HH 335216
EXPIRES: Oecember 14, 2026

EXHIBIT “A”

MAGIC PLACE ADDITIONAL PROPERTY (MV3 PHASE 3 PROPERTY)

Lots 149 to 235, inclusive, Tract 616B, Tract 616C, and Tract 620, pursuant to that certain Magic Village Resort 3—Phase 2 and 3 Plat recorded in Plat Book 30, Pages 142 - 146 in the Official Records of Osceola County, Florida.

9

4842-9023-2810.2

EXHIBIT “B”

SHARED AREA, OPEN AREAS, LIMITED SHARED AREAS, AND CLUB PROPERTY

10

4842-9023-2810.2

Shared Areas

Limited Shared Areas

Open Areas

Club Property

CDD Property

None.

None.

None.

None.

Tract 616B

Tract 616C

Tract 620

Magic Place Community Development District

Discussion Regarding Damaged
Landscape Material

Syt

W

0 Sl
bt
&

الا

,

للا

ممع مةققققة

i‏

IR

/

الملا

1

مددددودووأ‎ا

Magic Place Community Development District

Landscape Restoration Proposal (s)
(provided under separate cover)

Magic Place Community Development District

Consideration of Change to Current
Landscape and Maintenance Contractor

Magic Place Community Development District

Landscape and Maintenance Proposal

Landscape Maintenance Services
Contract Location

Thursday, May 7, 2026

Customer Info
Magic Companies
5500 W Orlo Bronson Memorial Highway Kissimmee, FL 34746

Magic Place Roadway
5500 W Orlo Bronson Memorial Highway Kissimmee, FL 34746

Alexandre Ribeiro alexandre.ribeiro@magiccompan 407-969-3669

Grounds Maintenance
Phase I Roadway Bahia
Additional Services Bed Weeding
Pruning/Detail

Measurement
- 314,384
0
26,451
26,451

Frequency
38 x
38 x
0 x
26 x
10 x

Monthly
912.00
2,533.33
- 69.33
480.00

Yearly
10,944.00
30,400.00
- 832.00
5,760.00

sf sf hr sf
sf

$
$
$
$
$

$
$
$
$
$

Fertilization and Pest Control
Lawn Shrub Bahia
Palm & Magnolia Fert

- 26,451
314,384
10

sf sf sf
ea

-

x x x
x

$
$
$
$

- 48.49
419.18
66.67

$
$
$
$

- 581.92
5,030.14
800.00

2
2
4

Irrigation Inspections
System Check

12 x

$

275.00

$

3,300.00

Contract Amount:

$

4,804.01

$

57,648.07

Mulch

Measurement
1

Frequency
0 x

Monthly
-

Yearly
70.00

Hardwood (Brown)

cy

$

$

Arbor Care

Palm Pruning Oak Trimming Crape Pruning
Leaf Clean Up

10

ct
Day Rate ct
hr

1 x
0 x
1 x
0 x

$
$
$
$

-
-
-
-

$
$
$
$

650.00
- 5,310.00
-

- 118
-

Floral Program
Annuals Flowers Soil
Poinsettias

-
-
-

ct
cy ct

0 x
0 x
0 x

$
$
$

-
-
-

$
$
$

-
-
-

Notes: The pricing below your contracted amount is estimated and not guranteed. Please ask your Account Manager for an updated proposal when these services are required.

Add'l Services:

$

-

$

6,030.00

Bobby Shaw Vice President
(321) 848-8998
bshaw@paradiselawnsfl.com

Date

Authorized Approver (Print)

Date

Authorized Approver (Signature)

Date

Authorizing Agent (Title)

Date

Paradise Lawns Landscape, Inc.
2151 Lois Lane | Cocoa, Fl 32926
(O) 877-282-6611 | (F) 321-433-1233

Page 1

Landscape Maintenance Services

Thursday, May 7, 2026

Contract Location
Magic Place Roadway
5500 W Orlo Bronson Memorial Highway Kissimmee, FL 34746

Customer Info
Magic Companies
5500 W Orlo Bronson Memorial Highway Kissimmee, FL 34746

Alexandre Ribeiro
alexandre.ribeiro@magiccomp
407-969-3669

Terms of Contract

Method of Billing:

Contract Amount:

Based on Approved Services

12 Equal payments of

$

-	beginning 	

A prorated amount of

$

-	will be invoiced for the first month to coincide with services rendered.

Paradise Lawns & Landscaping, Inc. agrees to maintain;

Magic Place Roadway

and will perform the services as specified on the

proposal price page. The length of this agreement is (1) year from the executed date and will automatically renew on the same date the following year. This contract includes a "30 Day Right to Correct" should either party feel the contract is not being followed. This means "Written" documentation from the date of incident will be sent to both parties outlining what the problem is and how it should be resolved. If not corrected in that time frame, a 30 day "Written Notice of Cancelation" shall be issued and executed at such time. All open balances are considered due should either party terminate the contract. All amortized amounts are subject to balances should the contractual cycle end before all direct expenses are recovered by Paradise Lawns. Any litigation costs are at the expense of each party. Paradise is insured for workman's compensation, general liability and automobile liability. Certificates of insurance are available upon request.

Payment must be received by the 1st, following the previous months service. If payment is more than 15 days past due services will be postponed until payment is made. Any delinquencies over 30 days are subject to a 5% penalty per month.

Paradise Lawns & Landscaping, Inc. assumes no responsibility for damages beyond our control or acts of God.

Paradise completes a customer audit at the end of each contract and takes into consideration our over-all performance. This determine if the contract w remain static or if any adjustments are required. Prior to any changes, a complete outline will be submitted supporting our request.
Increase's vary from (Min 3% - Max 10%). In most cases, yearly costs rise and we strive to be transparent while keeping everyone updated.

Paradise Lawns & Landscape, Inc. is thankful for your consideration of our proposal. Should any changes be needed please contact us at (877) 282-6611. The attached prices are not subject to change unless both parties agree upon the set amount. Fuel surcharges are enforced
should Paradise incur such costs. Paradise uses www.fuelgaugereport.aaa.com to calculate the cost and the invoice will indicate the percentage billed. Landscape Enhancements are not included in this agreements unless otherwise stated in a written addendum.

Bobby Shaw Vice President
(321) 848-8998
bshaw@paradiselawnsfl.com

Date

Authorized Approver (Print)

Date

Authorized Approver (Signature)

Date

Authorizing Agent (Title)

Date

Paradise Lawns Landscape, Inc.
2151 Lois Lane | Cocoa, Fl 32926
(O) 877-282-6611 | (F) 321-433-1233

Page 2

Magic Place Community Development District

Termination of Landscape and Maintenance Agreement with Dora Landscaping LLC

Magic Place Community Development District

Review and Acceptance of FY25 Audit Report

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT
OSCEOLA COUNTY, FLORIDA FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA

TABLE OF CONTENTS

  Page	
1-2

INDEPENDENT AUDITOR’S REPORT

MANAGEMENT’S DISCUSSION AND ANALYSIS

3-6

BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements: Statement of Net Position
Statement of Activities Fund Financial Statements:
Balance Sheet – Governmental Funds
Reconciliation of the Balance Sheet – Governmental Funds to the Statement of Net Position
Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities
Notes to the Financial Statements

7
8

9

10

11

12
13-20

REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – General Fund
Notes to Required Supplementary Information

21
22

OTHER INFORMATION
Data Elements required by FL Statute 218.39 (3) (c)

23

INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

24-25

INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10)
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

26

MANAGEMENT LETTER REQUIRED BY CHAPTER 10.550 OF THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

27-28

1001 W. Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR’S REPORT

To the Board of Supervisors
Magic Place Community Development District Osceola County, Florida

Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities and each major fund of Magic Place Community Development District, Osceola County, Florida ("District") as of and for the fiscal year ended September 30, 2025, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the District as of September 30, 2025, and the respective changes in financial position thereof for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the District and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
The District’s management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we:




Exercise professional judgment and maintain professional skepticism throughout the audit. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for a reasonable period of time.







We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis and budgetary comparison information be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Information Included in the Financial Report
Management is responsible for the other information included in the financial report. The other information comprises the information for compliance with FL Statute 218.39 (3) (c), but does not include the financial statements and our auditor's report thereon. Our opinions on the financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated April 1, 2026, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control over financial reporting and compliance.

April 1, 2026

2

MANAGEMENT’S DISCUSSION AND ANALYSIS

The management of the Magic Place Community Development District, Osceola County, Florida (“District”) would like to offer the readers of the District’s financial statements this discussion and analysis of the District’s financial activities for the fiscal year ended September 30, 2025. Please read it in conjunction with the District’s Independent Auditor’s Report, basic financial statements, accompanying notes and supplementary information to the basic financial statements.

FINANCIAL HIGHLIGHTS



The liabilities of the District exceeded its assets at the close of the most recent fiscal year resulting in a net position deficit balance of ($128,902).



The change in the District’s total net position in comparison with the prior fiscal year was $613,893, an increase. The key components of the District’s net position and change in net position are reflected in the table in the government-wide financial analysis section.



At September 30, 2025, the District’s governmental funds reported combined ending fund balances of
$1,975,224, an increase of $53,426 in comparison with the prior fiscal year. A portion of the total fund balance is restricted for debt service and capital projects, and the remainder is unassigned fund balance which is available for spending at the District’s discretion.

OVERVIEW OF FINANCIAL STATEMENTS

This discussion and analysis are intended to serve as the introduction to the District’s basic financial statements. The District’s basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.

Government-Wide Financial Statements

The government-wide financial statements are designed to provide readers with a broad overview of the District’s finances, in a manner similar to a private-sector business.

The statement of net position presents information on all the District’s assets, deferred outflows of resources, liabilities, and deferred inflows of resources with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.

The statement of activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods.

The government-wide financial statements include all governmental activities that are principally supported by special assessments. The District does not have any business-type activities. The governmental activities of the District include the general government (management), and maintenance functions.

Fund Financial Statements

A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The District has one fund category, the governmental funds.

3

OVERVIEW OF FINANCIAL STATEMENTS (Continued)

Governmental Funds

Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a District’s near-term financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the District’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balance provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The District maintains three governmental funds for external reporting. Information is presented separately in the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances for the general fund, debt service fund, and capital projects fund, all of which are considered major funds.

The District adopts an annual appropriated budget for its general fund. A budgetary comparison schedule has been provided for the general fund to demonstrate compliance with the budget.

Notes to the Financial Statements

The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements.

GOVERNMENT-WIDE FINANCIAL ANALYSIS

As noted earlier, net position may serve over time as a useful indicator of an entity’s financial position. In the case of the District, liabilities exceeded assets at the close of the most recent fiscal year.

Key components of the District’s net position are reflected in the following table:
NET POSITION SEPTEMBER 30,
	2025	2024	

Assets, excluding capital assets Capital assets, not being depreciated
Total assets Current liabilities Long-term liabilities
Total liabilities Net position
Net investment in capital assets Restricted
Unrestricted
Total net position

$	2,007,621	$

1,932,558

	15,542,682	15,388,748 
	17,550,303	17,321,306 

349,205

694,101

	17,330,000	17,370,000 
	17,679,205	18,064,101 

(1,717,073)
1,349,391

-
362,295

	238,780	(1,105,090)
 $	(128,902) $	(742,795)

4

GOVERNMENT-WIDE FINANCIAL ANALYSIS (Continued)

The District’s net position reflects its investment in capital assets (e.g. land, land improvements, and infrastructure) less any related debt used to acquire those assets that is still outstanding. These assets are used to provide services to residents; consequently, these assets are not available for future spending. Although the District’s investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.

The restricted portion of the District’s net position represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net position may be used to meet the District’s other obligations.

The District’s net position increased during the most recent fiscal year. The majority of the increase represents the extent to which ongoing program revenues exceeded the cost of operations.

Key elements of the change in net position are reflected in the following table:
CHANGES IN NET POSITION
FOR THE FISCAL YEAR ENDED SEPTEMBER 30,
	2025	2024	
Revenues: Program revenues

Charges for services
Operating grants and contributions Capital grants and contributions
General revenues
Unrestricted investment earnings Miscellaneous revenue
Total revenues Expenses:
General government Maintenance and operations Interest on long-term debt
Total expenses Change in net position
Net position - beginning Net position - ending

$

1,503,653
73,563
3,775

$

1,376,714
476,364
13,483

10,565

7,950

	2,526	-	
	1,594,082	1,874,511 

70,324
140,429

76,715
31,175

	769,436	784,700 
	980,189	892,590 

613,893

981,921

	(742,795)	(1,724,716)
 $	(128,902) $	(742,795)

As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year ended September 30, 2025, was $980,189. The costs of the District’s activities were funded primarily by special assessments. The District also receives revenue from interest income. Expenses increased from the previous year primarily as a result of the increase in maintenance expenses.

GENERAL BUDGETING HIGHLIGHTS

An operating budget was adopted and maintained by the governing board for the District pursuant to the requirements of Florida Statutes. The budget is adopted using the same basis of accounting that is used in preparation of the fund financial statements. The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2025.

5

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets

At September 30, 2025, the District had $15,542,682 invested in capital assets. No depreciation has been taken in the current fiscal year as the District’s infrastructure and other capital assets are under construction. More detailed information about the District’s capital assets is presented in the notes of the financial statements.

Capital Debt

At September 30, 2025, the District had $17,330,000 invested in Bonds outstanding for its governmental activities. More detailed information about the District’s capital debt is presented in the notes of the financial statements.

ECONOMIC FACTORS AND NEXT YEAR’S BUDGET

The District’s construction is ongoing; however, the District does not anticipate economic factors to affect operations for the subsequent fiscal year.

CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT

This financial report is designed to provide property owners, customers, investors and creditors with a general overview of the District’s finances and to demonstrate the District’s accountability for the financial resources it manages and the stewardship of the facilities it maintains. If you have questions about this report or need

additional financial information, contact the Magic Place Community Development Department at 3501 Quadrangle Boulevard, Suite 270, Orlando, FL 32817.

District’s

Finance

6

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA STATEMENT OF NET POSITION
SEPTEMBER 30, 2025

Governmental
	Activities	

ASSETS
Cash and cash equivalents Interest receivable
Other receivables Restricted assets:
Investments Capital assets:
Nondepreciable Total assets

$

248,442
5,844
22,735

1,730,600

	15,542,682 
	17,550,303 

LIABILITIES
Accounts payable Accrued interest payable Non-current liabilities:
Due within one year
Due in more than one year Total liabilities

32,397
316,808

385,000
	16,945,000 
	17,679,205 

NET POSITION
Net investment in capital assets Restricted for debt service Unrestricted
Total net position

(1,717,073)
1,349,391
	238,780 
 $	(128,902) 

See notes to the financial statements

7

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

Net (Expense) Revenue and Changes in Net Position

Program Revenues

Charges for

Operating Grants and

Capital Grants and

Governmental

Functions/Programs Primary government:
Governmental activities: General government Maintenance and operations Interest on long-term debt
Total governmental activities

	Expenses	Services	Contributions	Contributions	Activities	

$

70,324
140,429

$

70,324
259,759

$

-
-

$

- 3,775

$

- 123,105

	769,436	1,173,570	73,563	-	477,697 
	980,189	1,503,653	73,563	3,775	600,802 

General revenues:
Unrestricted investment earnings Miscellaneous revenue
Total general revenues Change in net position
Net position - beginning Net position - ending

10,565
	2,526 
	13,091 
613,893
	(742,795) 
 $	(128,902) 

See notes to the financial statements

8

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA
BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2025

	Major Funds	

Total Governmental Funds

Debt Service

Capital Projects

General

ASSETS
Cash and cash equivalents Investments
Interest receivable Other receivables
Total assets

$

248,442
-
- 22,735

$

- 1,660,591
5,608
-

$

- 70,009
236
-

$

248,442
1,730,600
5,844
22,735

 $	271,177	$ 1,666,199	$	70,245	$ 2,007,621 

LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable Total liabilities

$

32,397

$

-

$

-

$

32,397

32,397

-

-

32,397

Fund balances: Restricted for:
Debt service Capital projects
Unassigned
Total fund balances

-
- 238,780

1,666,199
-
-

- 70,245
-

1,666,199
70,245
238,780

238,780

1,666,199

70,245

1,975,224

Total liabilities and fund balances

$

271,177

$ 1,666,199

$

70,245

$

2,007,621

See notes to the financial statements

9

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA
RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION
SEPTEMBER 30, 2025

Fund balance - governmental funds
Amounts reported for governmental activities in the statement of net position are different because:
Capital assets used in governmental activities are not financial resources, therefore, are not reported as assets in the governmental funds. The statement of net position includes those capital assets, net of any accumulated depreciation, in the net position of the government as a whole.
Cost of capital assets Accumulated depreciation
Liabilities not due and payable from current available resources are not reported as liabilities in the governmental fund financial statements. All liabilities, both current and long-term, are reported in the government-wide financial statements.
Accrued interest payable Bonds payable
Net position of governmental activities

$  1,975,224

15,542,682
	-	

15,542,682

(316,808)
 (17,330,000)	(17,646,808) 

$

(128,902)

See notes to the financial statements

10

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

	Major Funds	

Total Governmental Funds

Debt Service

Capital Projects

General

REVENUES
Assessments Miscellaneous revenue Interest
Total revenues

$

330,083
2,526
10,565

$

1,173,570
8,980
64,583

$

-
- 3,775

$

1,503,653
11,506
78,923

343,174

1,247,133

3,775

1,594,082

EXPENDITURES
Current:
General government Maintenance and operations
Debt service: Principal Interest
Capital outlay
Total expenditures

70,324
140,429

-
-

-
-

70,324
140,429

-
-
-

400,000
775,969
-

-
- 153,934

400,000
775,969
153,934

210,753

1,175,969

153,934

1,540,656

Excess (deficiency) of revenues over (under) expenditures

132,421

71,164

(150,159)

53,426

OTHER FINANCING SOURCES (USES)
Interfund transfers in Interfund transfers (out)
Total other financing sources (uses)

-
-

- (13,577)

13,577
-

13,577
(13,577)

-

(13,577)

13,577

-

Net change in fund balances

132,421

57,587

(136,582)

53,426

Fund balances - beginning

106,359

1,608,612

206,827

1,921,798

Fund balances - ending

$

238,780

$

1,666,199

$

70,245

$

1,975,224

See notes to the financial statements

11

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

Net change in fund balances - total governmental funds
Amounts reported for governmental activities in the statement of activities are different because:
Governmental funds report capital outlays as expenditures; however, the cost of capital assets is eliminated in the statement of activities and capitalized in the statement of net position.
Repayments of long-term liabilities are reported as expenditures in the governmental fund financial statements, but such repayments reduce liabilities in the statement of net position and are eliminated in the statement of activities.
The change in accrued interest on long-term liabilities between the current and prior fiscal year is recorded in the statement of activities, but not in the governmental fund financial statements.

$

53,426

153,934

400,000

	6,533 

Change in net position of governmental activities

 $	613,893 

See notes to the financial statements

12

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA
NOTES TO FINANCIAL STATEMENTS

NOTE 1 – NATURE OF ORGANIZATION AND REPORTING ENTITY

Magic Place Community Development District ("District") was established February 15, 2016 by Ordinance 2016-22 of the Board of County Commissioners of Osceola County, Florida pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes. The Act provides among other things, the power to manage basic services for community development, power to borrow money and issue bonds, and to levy and assess non-ad valorem assessments for the financing and delivery of capital infrastructure.

The District was established for the purposes of financing and managing the acquisition, construction, maintenance and operation of a portion of the infrastructure necessary for community development within the District.

The District is governed by the Board of Supervisors ("Board"), which is composed of five members. The Supervisors are elected by the owners of the property within the District. The Board exercises all general powers granted to the District pursuant to Chapter 190, Florida Statutes. At September 30, 2025, all of the Board members are affiliated with the Developer.

The Board has the final responsibility for:

1.
2.
3.
4.
5.
6.

Assessing and levying assessments. Approving budgets.
Exercising control over facilities and properties. Controlling the use of funds generated by the District. Approving the hiring and firing of key personnel.
Financing improvements.

The financial statements were prepared in accordance with Governmental Accounting Standards Board (“GASB”) Statements. Under the provisions of those standards, the financial reporting entity consists of the primary government, organizations for which the District is considered to be financially accountable and other organizations for which the nature and significance of their relationship with the District are such that, if excluded, the financial statements of the District would be considered incomplete or misleading. There are no entities considered to be component units of the District; therefore, the financial statements include only the operations of the District.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Government-Wide and Fund Financial Statements
The basic financial statements include both government-wide and fund financial statements.

The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements.

The statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers who purchase, use or directly benefit from goods, services or privileges provided by a given function or segment. Operating-type special assessments for maintenance and debt service are treated as charges for services and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Other items not included among program revenues are reported instead as general revenues.

13

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Measurement Focus, Basis of Accounting and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Assessments are recognized as revenues in the year for which they are levied. Grants and similar items are to be recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures are recorded when a liability is incurred, as under accrual accounting; however, debt service expenditures are recorded only when payment is due.

Assessments
Assessments are non-ad valorem assessments on all assessable property within the District. Assessments are levied to pay for the operations and maintenance and debt service of the District. The fiscal year for which annual assessments are levied begins on October 1 and, if collected using the Uniform Method of Collection, with discounts available for payments through February 28 and become delinquent on April 1. Alternatively, the District adopts a resolution providing for the collection dates and directly collects the assessments.

Assessments and interest associated with the current fiscal period are considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. The portion of assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period.

The District reports the following major governmental funds:

General Fund
The general fund is the general operating fund of the District. It is used to account for all financial resources except those required to be accounted for in another fund.

Debt Service Fund
The debt service fund is used to account for the accumulation of resources for the annual payment of principal and interest on long-term debt.

Capital Projects Fund
This fund accounts for the financial resources to be used for the acquisition or construction of major infrastructure within the District.

As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements.

When both restricted and unrestricted resources are available for use, it is the District’s policy to use restricted resources first for qualifying expenditures, then unrestricted resources as they are needed.

Assets, Liabilities and Net Position or Equity

Restricted Assets
These assets represent cash and investments set aside pursuant to Bond covenants or other contractual restrictions.

14

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity (Continued)

Deposits and Investments
The District’s cash on hand and demand deposits are considered to be cash and cash equivalents.

The District has elected to proceed under the Alternative Investment Guidelines as set forth in Section
218.415 (17) Florida Statutes. The District may invest any surplus public funds in the following:

a)

The Local Government Surplus Trust Funds, or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act;
Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency;
Interest bearing time deposits or savings accounts in qualified public depositories; Direct obligations of the U.S. Treasury.

b)

c)
d)

Securities listed in paragraph c and d shall be invested to provide sufficient liquidity to pay obligations as they come due. In addition, surplus funds may be deposited into certificates of deposit which are insured and any unspent Bond proceeds are required to be held in investments as specified in the Bond Indenture.

The District records all interest revenue related to investment activities in the respective funds. Investments are measured at amortized cost or reported at fair value as required by generally accepted accounting principles.

Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements.

Capital Assets
Capital assets which include property, plant and equipment, and infrastructure assets (e.g., roads, sidewalks and similar items) are reported in the government activities columns in the government-wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than $5,000 (amount not rounded) and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value at the date of donation.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are completed and placed in service.

No depreciation has been taken in the current fiscal year as the District’s infrastructure and other capital assets are under construction.

Unearned Revenue
Governmental funds report unearned revenue in connection with resources that have been received, but not yet earned.

Long-Term Obligations
In the government-wide financial statements long-term debt and other long-term obligations are reported as liabilities in the statement of net position. Bond premiums and discounts are deferred and amortized ratably over the life of the Bonds. Bonds payable are reported net of applicable premiums or discounts. Bond issuance costs are expensed when incurred.

15

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Assets, Liabilities and Net Position or Equity (Continued)

Long-Term Obligations (Continued)
In the fund financial statements, governmental fund types recognize premiums and discounts, as well as issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then.

In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.

Fund Equity/Net Position
In the fund financial statements, governmental funds report nonspendable and restricted fund balance for amounts that are not available for appropriation or are legally restricted by outside parties for use for a specific purpose. Assignments of fund balance represent tentative management plans that are subject to change.

The District can establish limitations on the use of fund balance as follows:

Committed fund balance – Amounts that can be used only for the specific purposes determined by a formal action (resolution) of the Board of Supervisors. Commitments may be changed or lifted only by the Board of Supervisors taking the same formal action (resolution) that imposed the constraint originally. Resources accumulated pursuant to stabilization arrangements sometimes are reported in this category.

Assigned fund balance – Includes spendable fund balance amounts that are intended to be used for specific purposes that are neither considered restricted nor committed. The Board may also assign fund balance as it does when appropriating fund balance to cover differences in estimated revenue and appropriations in the subsequent year’s appropriated budget. Assignments are generally temporary and normally the same formal action need not be taken to remove the assignment.

The District first uses committed fund balance, followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used.

Net position is the difference between assets and deferred outflows of resources less liabilities and deferred inflows of resources. Net position in the government-wide financial statements are categorized as net investment in capital assets, restricted or unrestricted. Net investment in capital assets represents net position related to infrastructure and property, plant and equipment. Restricted net position represents the assets restricted by the District’s Bond covenants or other contractual restrictions. Unrestricted net position consists of the net position not meeting the definition of either of the other two components.

16

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Other Disclosures

Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates.

NOTE 3 – BUDGETARY INFORMATION

The District is required to establish a budgetary system and an approved Annual Budget. Annual Budgets are adopted on a basis consistent with generally accepted accounting principles for the general fund. All annual appropriations lapse at fiscal year-end.

The District follows these procedures in establishing the budgetary data reflected in the financial statements.

a)

Each year the District Manager submits to the District Board a proposed operating budget for the fiscal year commencing the following October 1.
Public hearings are conducted to obtain public comments.
Prior to October 1, the budget is legally adopted by the District Board. All budget changes must be approved by the District Board.
The budgets are adopted on a basis consistent with generally accepted accounting principles. Unused appropriation for annually budgeted funds lapse at the end of the year.

b)
c)
d)
e)
f)

NOTE 4 – DEPOSITS AND INVESTMENTS

Deposits
The District’s cash balances were entirely covered by federal depository insurance or by a collateral pool pledged to the State Treasurer. Florida Statutes Chapter 280, "Florida Security for Public Deposits Act", requires all qualified depositories to deposit with the Treasurer or another banking institution eligible collateral equal to various percentages of the average daily balance for each month of all public deposits in excess of any applicable deposit insurance held. The percentage of eligible collateral (generally, U.S. Governmental and agency securities, state or local government debt, or corporate bonds) to public deposits is dependent upon the depository's financial history and its compliance with Chapter 280. In the event of a failure of a qualified public depository, the remaining public depositories would be responsible for covering any resulting losses.

Investments
The District’s investments were held as follows at September 30, 2025:

 Amortized Cost	Credit Risk	Maturities	

US Bank Gcts 0490 Total Investments

 $	1,730,600 
 $	1,730,600 

N/A

N/A

Credit risk – For investments, credit risk is generally the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Investment ratings by investment type are included in the preceding summary of investments.

Concentration risk – The District places no limit on the amount the District may invest in any one issuer.

Interest rate risk – The District does not have a formal policy that limits investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates.

17

NOTE 4 – DEPOSITS AND INVESTMENTS (Continued)

Investments (Continued)
However, the Bond Indenture limits the type of investments held using unspent proceeds.

Fair Value Measurement – When applicable, the District measures and records its investments using fair value measurement guidelines established in accordance with GASB Statements. The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques.

These guidelines recognize a three-tiered fair value hierarchy, in order of highest priority, as follows:



Level 1: Investments whose values are based on unadjusted quoted prices for identical investments in active markets that the District has the ability to access;
Level 2: Investments whose inputs - other than quoted market prices - are observable either directly or indirectly; and,
Level 3: Investments whose inputs are unobservable.





The fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the entire fair value measurement. Valuation techniques used should maximize the use of observable inputs and minimize the use of unobservable inputs.

Money market investments that have a maturity at the time of purchase of one year or less and are held by governments other than external investment pools should be measured at amortized cost. Accordingly, the District’s investments have been reported at amortized cost above.

NOTE 5 – INTERFUND TRANSFERS

Interfund transfers for the fiscal year ended September 30, 2025 were as follows:

 Fund	Transfers in	Transfers out 

Debt service Capital projects
Total

$

-

$

13,577

	13,577	-	
 $	13,577	$	13,577 

Transfers are used to move revenues from the fund where collection occurs to the fund where funds have been reallocated for use. In the case of the District, transfers from the debt service fund to the capital projects fund were made in accordance with the Bond Indentures.

NOTE 6 – CAPITAL ASSETS

Capital asset activity for the fiscal year ended September 30, 2025 was as follows:

Beginning Balance

Ending Balance

Additions

Reductions

Governmental activities
Capital assets, not being depreciated Infrastructure under construction
Total capital assets, not being depreciated

$

15,388,748

$

153,934

$

-

$

15,542,682

15,388,748

153,934

-

15,542,682

Governmental activities capital assets, net

$

15,388,748

$

153,934

$

-

$

15,542,682

The infrastructure intended to serve the District has been estimated at a total cost of approximately $23.4 million. A portion of the project costs was expected to be financed with the proceeds from the issuance of Bonds with the remainder to be funded by the Developer and conveyed to the District. Upon completion, certain improvements are to be conveyed to others for ownership and maintenance responsibilities.

18

NOTE 7 – LONG-TERM LIABILITIES

Series 2019
On September 11, 2019, the District issued $18,800,000 of Special Assessment Revenue Bonds, Series 2019 consisting of various Term Bonds with due dates from May 1, 2024 to May 1, 2051 and fixed interest rates ranging from 3.625% to 4.5%. The Bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District. Interest is to be paid semiannually on each May 1 and November 1. Principal on the Bonds is to be paid serially commencing May 1, 2022 through May 1, 2051.

The Series 2019 Bonds are subject to redemption at the option of the District prior to their maturity. The Bonds are subject to extraordinary mandatory redemption prior to their selected maturity in the manner determined by the Bond Registrar if certain events occurred as outlined in the Bond Indenture. This occurred during the current fiscal year as the District prepaid $40,000 of the Bonds. In addition, see Note 11 – Subsequent Events for extraordinary redemption amounts subsequent to fiscal year end.

The Bond Indenture established a debt service reserve requirement as well as other restrictions and requirements relating principally to the use of proceeds to pay for the infrastructure improvements and the procedures to be followed by the District on assessments to property owners. The District agrees to levy special assessments in annual amounts adequate to provide payment of debt service and to meet the reserve requirements. Upon satisfaction of certain conditions, a portion of the original reserve requirements will be released to the Developer for construction costs paid on behalf of the District; this did not occur during the current fiscal year. The District was in compliance with the requirements at September 30, 2025.

Long-term Debt Activity
Changes in long-term liability activity for the fiscal year ended September 30, 2025 were as follows:

Beginning Balance

Ending Balance

Due Within One Year

Additions

Reductions

Governmental activities Bonds payable:
Series 2019
Total

$  17,730,000

$

-

$

400,000

$ 17,330,000

$

385,000

$  17,730,000

$

-

$

400,000

$ 17,330,000

$

385,000

At September 30, 2025, the scheduled debt service requirements on the long-term debt were as follows:

	Governmental Activities	

Year ending

  September 30:	Principal	Interest	Total	

2026
2027
2028
2029
2030
2031-2035
2036-2040
2041-2045
2046-2050
2051
Total

$

385,000
385,000
400,000
420,000
435,000
2,470,000
3,080,000
3,840,000
4,815,000

$

760,006
745,338
730,419
714,919
698,644
3,202,656
2,610,500
1,864,800
916,650

$

1,145,006
1,130,338
1,130,419
1,134,919
1,133,644
5,672,656
5,690,500
5,704,800
5,731,650

	1,100,000	49,500	1,149,500 
 $  17,330,000	$ 12,293,432	$  29,623,432 

NOTE 8 – DEVELOPER TRANSACTIONS & CONCENTRATION

The Developer owns a portion of land within the District; therefore, assessment revenues in the general and debt service funds include the assessments levied on those lots owned by the Developer.

The District’s activity is dependent upon the continued involvement of the Developer, the loss of which could have a material adverse effect on the District’s operations.

19

NOTE 9 – MANAGEMENT COMPANY

The District has contracted with a management company to perform management advisory services, which include financial and accounting advisory services. Certain employees of the management company also serve as officers (Board appointed non-voting positions) of the District. Under the agreement, the District compensates the management company for management, accounting, financial reporting, and other administrative costs.

NOTE 10 – RISK MANAGEMENT

The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters. The District has obtained commercial insurance from independent third parties to mitigate the costs of these risks; coverage may not extend to all situations. There were no settled claims during the past three years.

NOTE 11 – SUBSEQUENT EVENTS

Subsequent to fiscal year end, the District prepaid a total of $15,000 of the Series 2019 Bonds. The prepayments were considered extraordinary mandatory redemptions as outlined in the Bond Indenture.

20

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025

Variance with Final Budget - Positive (Negative)

Budgeted
	Amounts	 Original & Final

Actual Amounts

REVENUES
Assessments Miscellaneous revenue Interest
Total revenues

$

316,955
-
-

$

330,083
2,526
10,565

$

13,128
2,526
10,565

316,955

343,174

26,219

EXPENDITURES
Current:
General government Maintenance and operations
Total expenditures

98,855
218,100

70,324
140,429

28,531
77,671

316,955

210,753

106,202

Excess (deficiency) of revenues over (under) expenditures

 $	-	

132,421

 $	132,421 

Fund balance - beginning

	106,359 

Fund balance - ending

 $	238,780 

See notes to required supplementary information

21

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION

The District is required to establish a budgetary system and an approved Annual Budget for the General Fund. The District’s budgeting process is based on estimates of cash receipts and cash expenditures which are approved by the Board. The budget approximates a basis consistent with accounting principles generally accepted in the United States of America (generally accepted accounting principles).

The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2025.

22

MAGIC PLACE COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA
OTHER INFORMATION – DATA ELEMENTS REQUIRED BY FL STATUTE 218.39(3)(C)
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025 UNAUDITED

Element

Comments

23

Number of District employees compensated in the last pay period of the District’s fiscal year being reported.

0

Number of independent contractors compensated to whom nonemployee compensation was paid in the last month of the District’s fiscal year being reported.

4

Employee compensation

$0

Independent contractor compensation

$62,499

Construction projects to begin on or after October 1; ($65K)

Not applicable

Budget variance report

See the Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund

Ad Valorem taxes;

Not applicable

Non ad valorem special assessments;

Special assessment rate

Operations and maintenance - $541.43
Debt service - $2,611.82

Special assessments collected

$1,503,653

Outstanding Bonds:

Series 2019, due May 1, 2051

$17,330,000

1001 W. Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

To the Board of Supervisors
Magic Place Community Development District Osceola County, Florida

We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities and each major fund of Magic Place Community Development District, Osceola County, Florida (“District”) as of and for the fiscal year ended September 30, 2025, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our opinion thereon dated April 1, 2026.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the District’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified.
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the District’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

24

Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

April 1, 2026

25

1001 W. Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10) OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

To the Board of Supervisors
Magic Place Community Development District Osceola County, Florida

We have examined Magic Place Community Development District, Osceola County, Florida’s (“District”) compliance with the requirements of Section 218.415, Florida Statutes, in accordance with Rule 10.556(10) of the Auditor General of the State of Florida during the fiscal year ended September 30, 2025. Management is responsible for the District’s compliance with those requirements. Our responsibility is to express an opinion on the District’s compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the District complied, in all material respects, with the specified requirements referenced in Section 218.415, Florida Statutes. An examination involves performing procedures to obtain evidence about whether the District complied with the specified requirements. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material noncompliance, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the District’s compliance with specified requirements.

We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the examination engagement.
In our opinion, the District complied, in all material respects, with the aforementioned requirements for the fiscal year ended September 30, 2025.
This report is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, management, and the Board of Supervisors of Magic Place Community Development District, Osceola County, Florida and is not intended to be and should not be used by anyone other than these specified parties.

April 1, 2026

26

1001 W. Yamato Road ▪ Suite 301 Boca Raton, Florida 33431
(561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL FOR THE STATE OF FLORIDA

To the Board of Supervisors
Magic Place Community Development District Osceola County, Florida

Report on the Financial Statements

We have audited the accompanying basic financial statements of Magic Place Community Development District, Osceola County, Florida ("District") as of and for the fiscal year ended September 30, 2025, and have issued our report thereon dated April 1, 2026.

Auditor’s Responsibility

We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and Chapter 10.550, Rules of the Florida Auditor General.

Other Reporting Requirements

We have issued our Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; and Independent Auditor’s Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated April 1, 2026, should be considered in conjunction with this management letter.

Purpose of this Letter

The purpose of this letter is to comment on those matters required by Chapter 10.550 of the Rules of the Auditor General for the State of Florida. Accordingly, in connection with our audit of the financial statements of the District, as described in the first paragraph, we report the following:

Current year findings and recommendations.
Status of prior year findings and recommendations.
Compliance with the Provisions of the Auditor General of the State of Florida.

Our management letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, Federal and other granting agencies, as applicable, management, and the Board of Supervisors of Magic Place Community Development District, Osceola County, Florida and is not intended to be and should not be used by anyone other than these specified parties.

We wish to thank Magic Place Community Development District, Osceola County, Florida and the personnel associated with it, for the opportunity to be of service to them in this endeavor as well as future engagements, and the courtesies extended to us.

April 1, 2026

27

REPORT TO MANAGEMENT

I.

CURRENT YEAR FINDINGS AND RECOMMENDATIONS

None

II.

PRIOR YEAR FINDINGS AND RECOMMENDATIONS

None

III.

COMPLIANCE WITH THE PROVISIONS OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

Unless otherwise required to be reported in the auditor’s report on compliance and internal controls, the management letter shall include, but not be limited to the following:

1.

A statement as to whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report.

There were no significant findings and recommendations made in the preceding annual financial audit report for the fiscal year ended September 30, 2024.

2.

Any recommendations to improve the local governmental entity's financial management.

There were no such matters discovered by, or that came to the attention of, the auditor, to be reported for the fiscal year ended September 30, 2025.

3.

Noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance.

There were no such matters discovered by, or that came to the attention of, the auditor, to be reported, for the fiscal year ended September 30, 2025.

4.

The name or official title and legal authority of the District are disclosed in the notes to the financial statements.

5.

The District has not met any of the financial emergency conditions described in Section 218.503(1), Florida Statutes.

6.

We applied financial condition assessment procedures and no deteriorating financial conditions were noted as of September 30, 2025. It is management’s responsibility to monitor financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same.

7.

Management has provided the specific information required by Section 218.39(3)(c) in the Other Information section of the financial statements on page 23.

28

Magic Place Community Development District

Ratification of Payment Authorization
Nos. 84 – 87

MAGIC PLACE
D E V E L O P M E N T D I S T R I C T

C O M M U N I T Y

Payment Authorization No. 084 3/20/2026

Invoice No

Supplier

Invoice Date

Property

Invoice Amount
475.50
672.89

79536
92634-032026

COBB COLE (MPCDD)
DUKE ENERGY PAYMENT PROCESSING (MPCDD)

03/11/2026
03/20/2026

Magic Place CDD Magic Place CDD

Total:

1,148.39

Secretary

Please make check payable to: Magic Place CDD
% PFM Group Consulting LLC 3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817-8329
(407) 723-5900

MAGIC PLACE
C 0 M M U N I T Y D E V E L 0 P M E N T D I S T R I C T

Payment Authorization No. 085 3/26/2026

Invoice No

Supplier

Invoice Date

Property

Invoice Amount
64.33
64.33

7BA85DEF-0117

OSCEOLA NEWS GAZETTE (MPCDD)

02/24/2026

Magic Place CDD

Total:

Secretary

! I Ct=- Chai person

Please make check payable to: Magic Place CDD
% PFM Group Consulting LLC 3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817-8329
(407) 723-5900

MAGIC PLACE
C O M M U N I T Y D E V E L O P M E N T D I S T R I C T

14737

DORA LANDSCAPING, LLC (MPCDD)

04/01/2026

Magic Place CDD

3,605.00

16497-033126

DUKE ENERGY PAYMENT PROCESSING (MPCDD)

03/31/2026

Magic Place CDD

1,513.79

8320

VGLOBALTECH (MPCDD)

03/31/2026

Magic Place CDD

300.00

Total:

15,574.54

8401	VGLOBALTECH (MPCDD)	04/01/2026	Magic Place CDD	125.00

141309	PFM GROUP CONSULTING LLC	03/30/2026	Magic Place CDD	1,250.00 (MPCDD)

14738	DORA LANDSCAPING, LLC (MPCDD)	04/01/2026	Magic Place CDD	8,780.75

Invoice No	Supplier	Invoice Date Property		Invoice Amount

Payment Authorization No. 086

4/3/2026

Secretary

Chairperson

________________________________

________________________________

Please make check payable to: Magic Place CDD
% PFM Group Consulting LLC 3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817-8329
(407) 723-5900

MAGIC PLACE
D E V E L O P M E N T D I S T R I C T

C O M M U N I T Y

Payment Authorization No. 087 4/10/2026

Invoice No

Supplier

Invoice Date

Property

Invoice Amount
200.00
25.31

2026.04.06
OE-EXP-04-2026-22

Doris H Houck (MPCDD)
PFM GROUP CONSULTING LLC (MPCDD)
PFM Management Services LLC (MPCDD)

04/06/2026
04/06/2026

Magic Place CDD Magic Place CDD

DM-04-2026-47

04/05/2026

Magic Place CDD

2,750.00

Total:

2,975.31

Secretary

rperson

Please make check payable to: Magic Place CDD
% PFM Group Consulting LLC 3501 Quadrangle Blvd. Ste. 270
Orlando, FL 32817-8329
(407) 723-5900

Magic Place Community Development District

Review of District Financial Statements

Magic Place CDD
March 2026 Financial Package

March 31, 2026

PFM Management Services LLC
3501 Quadrangle Blvd
Suite 270
Orlando, FL 32817
407-723-5900

Magic Place CDD
Statement of Financial Position As of 3/31/2026

General Fund

Debt Service Fund

Capital Projects Fund

Long Term Debt Fund

Total

Assets

Current Assets
General Checking Account Assessments Receivable Assessments Receivable
Debt Service Reserve Series 2019 Revenue Series 2019
Interest Series 2019
Prepayment Series 2019 Sinking Fund Series 2019
Acquisition/Construction Series 2019
Total Current Assets

$

118,655.10
484,999.05

$

118,655.10
484,999.05
1,077,672.23
1,134,662.50
182,660.88
13.24
12,031.14
43.28
61,572.80

$

1,077,672.23
1,134,662.50
182,660.88
13.24
12,031.14
43.28

$

61,572.80

$

603,654.15

$

2,407,083.27

$

61,572.80

$

-

$

3,072,310.22

Investments
Amount Available in Debt Service Funds Amount To Be Provided
Total Investments

$  1,329,411.04
15,975,588.96

$

1,329,411.04
15,975,588.96

$

-

$

-

$

-

$ 17,305,000.00

$

17,305,000.00

Total Assets

$

603,654.15

$

2,407,083.27

$

61,572.80

$ 17,305,000.00

$

20,377,310.22

Liabilities and Net Assets

Current Liabilities Accounts Payable Deferred Revenue Deferred Revenue
Total Current Liabilities

$

1,540.50
484,999.05

$

1,540.50
484,999.05
1,077,672.23

$

1,077,672.23

$

486,539.55

$

1,077,672.23

$

-

$

-

$

1,564,211.78

Long Term Liabilities
Revenue Bonds Payable - Long-Term
Total Long Term Liabilities

$ 17,305,000.00

$

17,305,000.00

$

-

$

-

$

-

$ 17,305,000.00

$

17,305,000.00

Total Liabilities

$

486,539.55

$

1,077,672.23

$

-

$ 17,305,000.00

$

18,869,211.78

Net Assets
Net Assets, Unrestricted
Net Assets - General Government
Current Year Net Assets - General Government

$

(5,247.50)
244,028.12
(121,666.02)

$

(5,247.50)
244,028.12
(121,666.02)

Net Assets, Unrestricted
Current Year Net Assets, Unrestricted

$

1,666,199.66
(336,788.62)

1,666,199.66
(336,788.62)

Net Assets, Unrestricted
Current Year Net Assets, Unrestricted

$

526,995.11
(8,672.31)

526,995.11
(8,672.31)

Net Assets - General Government
Total Net Assets

(456,750.00)

(456,750.00)

$

117,114.60

$

1,329,411.04

$

61,572.80

$

-

$

1,508,098.44

Total Liabilities and Net Assets

$

603,654.15

$

2,407,083.27

$

61,572.80

$ 17,305,000.00

$

20,377,310.22

Page 1 of 3

Magic Place CDD Statement of Activities As of 3/31/2026

General Fund

Debt Service Fund

Capital Projects Fund

Long Term Debt Fund

Total

Revenues

On-Roll Assessments
Other Income & Other Financing Sources On-Roll Assessments
Other Income & Other Financing Sources
Total Revenues

$

18,255.61
3,073.96

$

18,255.61
3,073.96
40,564.14
6,830.38

$

40,564.14
6,830.38

$

21,329.57

$

47,394.52

$

-

$

-

$

68,724.09

Expenses

Supervisor Fees
Public Officials' Liability Insurance Trustee Services
Management Engineering Disclosure Agent Property Appraiser District Counsel
Assessment Administration Audit
Tax Preparation Postage & Shipping Legal Advertising
Web Site Maintenance Dues, Licenses, and Fees Electric
Irrigation
General Insurance Other Insurance
Landscaping Maintenance & Material Principal Payment
Interest Payments Capital Expenditures
Total Expenses

$

400.00
3,466.00
5,601.92
16,500.00
1,365.00
1,250.00
267.92
1,213.50
7,500.00
4,100.00
12.84
0.74
261.97
1,050.00
175.00
12,141.17
15,632.44
4,236.00
500.00
70,667.34

$

400.00
3,466.00
5,601.92
16,500.00
1,365.00
1,250.00
267.92
1,213.50
7,500.00
4,100.00
12.84
0.74
261.97
1,050.00
175.00
12,141.17
15,632.44
4,236.00
500.00
70,667.34
25,000.00
380,273.45
9,630.00

$

25,000.00
380,273.45

$

9,630.00

$

146,341.84

$

405,273.45

$

9,630.00

$

-

$

561,245.29

Other Revenues (Expenses) & Gains (Losses)

Interest Income Interest Income Interest Income
Total Other Revenues (Expenses) & Gains (Losses)

$

3,346.25

$

3,346.25
21,090.31
957.69

$

21,090.31

$

957.69

$

3,346.25

$

21,090.31

$

957.69

$

-

$

25,394.25

Change In Net Assets

$

(121,666.02)

$

(336,788.62)

$

(8,672.31)

$

-

$

(467,126.95)

$

238,780.62

$

1,666,199.66

$

70,245.11

$

-

$

1,975,225.39

Net Assets At Beginning Of Year

$

117,114.60

$

1,329,411.04

$

61,572.80

$

-

$ 1,508,098.44

Net Assets At End Of Year

Page 2 of 3

Magic Place CDD
Budget to Actual
For the month ending 03/31/2026

FY 2026
Adopted Budget

Percentage Spent

YTD Actual

YTD Budget

YTD Variance

Revenues
On-Roll Assessment
Other Income & Other Financing Sources
Net Revenues

$

18,255.61
3,073.96

$

251,627.50
-

$

(233,371.89)
3,073.96

$

503,255.00
-

3.63%
0.00%

$

21,329.57

$

251,627.50

$

(230,297.93)

$

503,255.00

4.24%

General & Administrative Expenses
Trustee Services Management Engineering Disclosure Agent District Counsel Postage & Shipping Property Appraiser
Assessment Administration Re-Amortization Schedule Audit
Legal Advertising Miscellaneous Arbitrage
Web Site Maintenance Dues, Licenses, and Fees
Public Officials' Liability Insurance General Liability Insurance Additional Insurance
Irrigation
Lake Maintenance
Landscaping Maintenance and Material Streetlights
Tax Preparation Fee Supervisor Fees Contingency
Total General & Administrative Expenses

$

5,601.92
16,500.00
1,365.00
1,250.00
1,213.50
0.74
267.92
7,500.00
- 4,100.00
261.97
-
- 1,050.00
175.00
3,466.00
4,236.00
500.00
15,632.44
- 70,667.34
12,141.17
12.84
400.00
-

$

3,000.00
16,500.00
5,000.00
2,500.00
10,000.00
200.00
200.00
3,750.00
125.00
1,800.00
1,800.00
125.00
250.00
1,350.00
87.50
1,839.50
2,248.00
250.00
50,000.00
6,000.00
123,150.00
20,000.00
10.00
- 1,442.50

$

2,601.92
- (3,635.00)
(1,250.00)
(8,786.50)
(199.26)
67.92
3,750.00
(125.00)
2,300.00
(1,538.03)
(125.00)
(250.00)
(300.00)
87.50
1,626.50
1,988.00
250.00
(34,367.56)
(6,000.00)
(52,482.66)
(7,858.83)
2.84
400.00
(1,442.50)

$

6,000.00
33,000.00
10,000.00
5,000.00
20,000.00
400.00
400.00
7,500.00
250.00
3,600.00
3,600.00
250.00
500.00
2,700.00
175.00
3,679.00
4,496.00
500.00
100,000.00
12,000.00
246,300.00
40,000.00
20.00
- 2,885.00

93.37%
50.00%
13.65%
25.00%
6.07%
0.19%
66.98%
100.00%
0.00%
113.89%
7.28%
0.00%
0.00%
38.89%
100.00%
94.21%
94.22%
100.00%
15.63%
0.00%
28.69%
30.35%
64.20%
0.00%
0.00%

$

146,341.84

$

251,627.50

$

(105,285.66)

$

503,255.00

29.08%

Total Expenses

$

146,341.84

$

251,627.50

$

(105,285.66)

$

503,255.00

Income (Loss) from Operations

$

(125,012.27)

$

-

$

(125,012.27)

$

-

Other Income (Expense)
Interest Income
Total Other Income (Expense)

$

3,346.25

$

-

$

3,346.25

$

-

$

3,346.25

$

-

$

3,346.25

$

-

Net Income (Loss)

$ (121,666.02)

$

-

$ (121,666.02)

$

-

Page 3 of 3

Magic Place Community Development District

Staff Reports

Magic Place Community Development District

District Engineer