City Gate Community Development District
12051 Corporate Boulevard, Orlando, FL 32817-1450
P. 407-723-5900
F. 407-723-5901

Board of Supervisors
CITY GATE COMMUNITY DEVELOPMENT DISTRICT

Thursday, March 5, 2026, 4:30 p.m.
3830 Uline Drive
Naples, FL 34117

Call to Order / Roll Call

Public Comments

Administrative Matters



Tab 1

-

Proof of Publication.



Tab 2

-

Acceptance of Supervisor Jennifer Belpedio resignation.



Tab 3

-

Appointment of James Hanrahan to fulfill Seat 2 Term.



Tab 4

-

Consideration of Resolution 2026-01 – Designation of Officers.



Tab 5

-

Intent to place public notices on Collier Clerk of Courts website.



Tab 6

-

Consideration of Resolution 2026-02 – Consent to Insubstantial Change.



Tab 7

-

Approval of November 24, 2025 Meeting Minutes.

Budget Matters



Tab 8

-

Consideration of the January 2026, District Financial Statements.



Tab 9

-

Consideration of City Gate CDD final FY 2024-2025 Audit.

Operational Matters



Update on Way Finding Signs (see engineer’s report).



Update on Sheriff Interlocal Agreement.

City Gate CDD March 5, 2026 Meeting Agenda – Page 2

Other Business

Staff Reports



Manager’s Report



Attorney’s Report



Tab 10 - Engineer’s Report

Supervisor’s Requests

Adjournment

EXHIBIT 1

Naples Daily News
Govt Public Notices
Originally published at napIesnews.com on 10/08/2025

BOARD OF SUPERVISORS MEETING DATES
CITY GATE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025-2026
The Board of Supervisors of the City Gate Community Development District will hold their regular meetings for Fiscal Year as follows:
October 2, 2025
November 6, 2025
December 4, 2025
January 8, 2026*
February 8, 2026
March 5, 2026
April 2, 2026
May 7, 2026
June 4, 2026
July 9, 2026**
August 6, 2026
September 10, 2026***
* Moved one week due to New Years Day Holiday.
** Moved one week later due to the July 4th Holiday.
*** Moved one week later due to supervisor schedules.
Meetings of City Gate CDD will convene at 4:30 p.m. and rotate among the following three locations:

Great Wolf Lodge
3900 City Gate Boulevard North Naples, FL 34117

Uline
3830 Uline Drive
Naples, FL 34117

Paradise Sports Park
3940 City Gate Boulevard North Naples, FL 34117

The meetings are open to the public and will be conducted in accordance with the provision of Florida Law for Community Development Districts.
The meetings may be continued to a date, time, and place to be specified on the record at the meeting. A copy of the agenda for these meetings may be obtained from the District Manager, Real Estate Econometrics, Inc. located at 707 Orchid Drive, Suite 100, Naples, Florida 34102 or by calling (239) 269-1341.
There may be occasions when one or more Supervisors or staff will participate by speaker telephone. Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations at this meeting because of a disability or physical impairment should contact the District Office at (239) 269-1341 at least 48 hours prior to the meeting. 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 Office.
A person who decides to appeal any decision made at the meeting with respect to any matter considered at the meeting is advised that 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 such appeal is to be based.
District Manager

No. 11733074

Oct 8, 2025

EXHIBIT 2

Collier Count
TRANSPORTATION MANAGEMENT SERVICES

Via email only: RweverHree-i.com

Mr. G. Russell Weyer Registered Agent
City Gate Community Development District

Re: Resignation from City Gate Community Development District Board and Recommendation of Successor

Dear Mr. Weyer:

Please accept tiiis letter as my resignation from '•	rosition as an officer and member of the Board of Supervisors for the City Gate Community Development District (“District”), effective upon the appointment
of my successor.

Due to additional responsibilities I am taking on with Collier County, I am no longer able to give this role the time and attention it deserves. For purposes of continuity, the County Manager has recommended that James
Ham-ahan be considered to serve in my place.

Mr. Hanrahan, as Dñ-ector of Parks & Recreation, and his team provide County oversight of Paradise Coast
Sports Complex and oversee the third-party contractor that operates the facility on behalf of Collier County.

Mr. Hanrahan and I will attend the next District meeting.
IamesD. Hanrahan(0jcollier.eov

For meeting notices, his e-mail is:

I have enjoyed my time on the Board and found the work productive and meaningful. I appreciate
collaboration and professionalism of my fellow Board members and District personnel.

the

Sincerely,

Jennifer A. Belpedio
Property Acquisition Manager

CC: Trinity Scott Trinity.Scotty.Collier.9ov, Darren Hutton Darren Huttons,Collier pov Jamie French lames.French(0jCollier.eov , James Hanranhan IamesD Hanrahan(éicollier eov

2885 Horseshoe Drive South, Naples, FL 34104 • Phone: (239j 252-8192
www.colIiercountyfl.gov

EXHIBIT 3

OATH OR AFFIRMATION OF OFFICE

I, James Hanrahan, a Citizen of the State of Florida and of the United States of

America, and being an officer of the City Gate Community Development

District	and a recipient of public funds as such officer, do hereby solemnly

swear or affirm that I will support the Constitution of the United States and of the

State of Florida, and will faithfully, honestly and impartially discharge the duties

delegated to me as a member of the Board of Supervisors of the City Gate

Community Development District, Collier County, Florida.

Signature

Printed Name: 	

STATE OF FLORIDA COUNTY OF COLLIER

Sworn to (or affirmed) before me this 12th day of September, 2024,

by

	,

whose

signature	appears

hereinabove, who is personally known to me or who produced

	 as identification.

NOTARY PUBLIC STATE OF FLORIDA

Print Name:	
My Commission Expires: 	

OATH OR AFFIRMATION OF OFFICE

I, Alp Arol, a Citizen of the State of Florida and of the United States of America,

and being an officer of the City Gate Community Development District  and a

recipient of public funds as such officer, do hereby solemnly swear or affirm that I

will support the Constitution of the United States and of the State of Florida, and

will faithfully, honestly and impartially discharge the duties delegated to me as a

member of the Board of Supervisors of the City Gate Community Development

District, Collier County, Florida.

Signature

Printed Name: 	

STATE OF FLORIDA COUNTY OF COLLIER

Sworn to (or affirmed) before me this 12th day of September, 2024,

by

	,

whose

signature	appears

hereinabove, who is personally known to me or who produced

	 as identification.

NOTARY PUBLIC STATE OF FLORIDA

Print Name:	
My Commission Expires: 	

EXHIBIT 4

RESOLUTION 2026-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF

THE

CITY

GATE

COMMUNITY

DEVELOPMENT

DISTRICT DESIGNATING THE OFFICERS OF THE DISTRICT FOR FISCAL YEAR 2025-2026 AND PROVIDING FOR EFFECTIVE DATE.

WHEREAS, the Board of Supervisors of the City Gate Community Development District desires to elect the below recited persons to the office specified.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE CITY GATE COMMUNITY DEVELOPMENT DISTRICT;

1.  The following persons are appointed to the offices shown, to wit:

Brad Heisner Jake Stephens Jennifer Walden Jennifer Walden Roger B. Rice James Hanrahan Alp Erol
Russ Weyer

Chairman Vice Chairman Secretary Treasurer
Assistant Secretary Assistant Secretary Assistant Secretary
Assistant Secretary/Assistant Treasurer

Amy Champagne Jennifer Glasgow

Assistant Treasurer Assistant Treasurer

PASSED AND ADOPTED THIS 5th DAY OF MARCH, 2026.

ATTEST:

CITY GATE COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary

Chairman/Vice Chairman

EXHIBIT 5

CITY GATE COMMUNITY DEVELOPMENT DISTRICT RESOLUTION 2026-02
CONSENT TO AN INSUBSTANTIAL CHANGE (“PDI”) TO THE CITY GATE COMMERCE PARK MPUD - PDI PROJECT NO. PL20250005386.

WHEREAS, the City Gate Community Development District lies within a PUD known as CITY GATE COMMERCE PARK MPUD, which was originally approved with the adoption of Ordinance Number 88-93 on December 13, 1988.

WHEREAS there have been several amendments to the CITY GATE COMMERCE PARK MPUD since then, in Ordinance numbers 09-68, 09-69, 10-42, 18-13, 20-13 and 21-15.

WHEREAS,

the	following

MPUD

landowners:

COLLIER

COUNTY,

CITYGATE

DEVELOPMENT, LLC, 850 NWN, LLC, and CG II, LLC, along with O’HARA & GRAY, LLC,

and  3819  3815  WHITE  LAKE  BLVD.  ASSOCIATES  LLC  (COLLECTIVELY  “PDI
APPLICANTS”) seek approval of a PDI known as CITY GATE COMMERCE PARK MPUD-PDI Project No. PL20250005386 before Collier County’s Hearing Examiner (the “PDI”).

WHEREAS nothing in the PDI (a) obligates the District to fund, construct, operate any improvement, facility, or infrastructure; (b) constitutes a waiver of any right, power, immunity, or discretion of the District; (c) affects the District’s rights with respect to assessments, agreements, or enforcement.

WHEREAS, the Board of Supervisors has considered said PDI and desires to memorialize their consent to said PDI to the extent such consent is required from or requested of the District in connection with the PDI.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF CITY GATE COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. RECITALS. The foregoing recitals are true and correct and are incorporated into this Resolution by this reference.

SECTION 2. CONSENT. The Board of Supervisors hereby consents to the PDI Applicants’ request for approval of the PDI, including before the Hearing Examiner, to the extent such consent is required from or requested of the District in connection with the PDI.

SECTION 3. LIMITATIONS; NO WAIVER; NO OBLIGATION. The District’s consent in
Section 2 is limited to the PDI as described above and as presented to the Board of Supervisors in connection with Project No. PL20250005386.

SECTION 4. AUTHORIZATION. The Chair, Secretary, and District staff are authorized to execute and deliver such documents and to take such ministerial actions as may be necessary or desirable to implement the intent of this Resolution.

SECTION 5. EFFECTIVE DATE. This Resolution will become effective immediately upon adoption.

Adopted this 5th day of March, 2026.

Chair, Board of Supervisors

ATTEST:

Secretary

EXHIBIT 6

City Gate Community Development District
Notice of Publishing Legally Required Advertisements and Public Notices on Collier County’s Designated Publicly Accessible Website

Notice of hereby given pursuant to Section 50.0311(6), Florida Statutes, that City Gate Community Development District (“District”) intends to utilize Collier County’s designated publicly accessible website to publish legally required advertisements and public notices. Legal advertisements and public notices will be posted at: https://notices.collierclerk.com/. The District’s utilization of Collier County’s designated publicly accessible website shall begin after March 5, 2026. In accordance with Section 50.0311(6), Florida Statutes, property owners and residents within the District may receive legally required advertisements and public notices from the District by first-class mail or email upon registering their name and address or email address with the District Manager of the District. Registration for the receipt of legally required advertisements and public notices may be done by contacting the District Manager at Real Estate Econometrics, Inc., 707 Orchid Drive, Suite 100, Naples, Florida 34102, by calling (239) 269-1341 or by email at rweyer@ree-i.com.

District Manager
City Gate Community Development District https://citygatecdd.com/

4933-6433-0618.1

EXHIBIT 7

CITY GATE COMMUNITY DEVELOPMENT DISTRICT
12051 Corporate Boulevard
	Orlando, FL 32817	

MINUTES OF MEETING

Board of Supervisors Meeting Monday, November 24, 2025, 4:30 p.m.

3900 City Gate Boulevard North Naples, FL 34117

Present and constituting a quorum were:

Roger B. Rice Jake Stephens Jennifer Belpedio Alp Erol

Board Member Board Member Board Member
Board Member (Fulfilling Jason Bays’ Term)

Absent was:

Brad Heisner

Board Member

Also present were:

Russ Weyer Audrey Ryan Josh Fruth Don Pavlik
Emily Brockmeier

Real Estate Econometrics, Inc.
PFM Group Consulting, LLC (Via Zoom) Civilgear Engineering
850 NWN LLC
Collier County (Public)

CALL TO ORDER AND ROLL CALL

Mr. Weyer called the meeting to order and proceeded with the roll call. The members in attendance are as outlined above and a quorum was established.

PUBLIC COMMENTS

Mr. Weyer noted that the Florida Statutes require that there be an opportunity for Public Comment. There were no public comments brought forward. He also presented the proof of publication for the meeting.

1

ADMINISTRATIVE MATTERS

1. Consideration of Jason Bays’ Resignation Letter

Mr. Weyer noted that Mr. Bays has been promoted within Great Wolf Lodge to Pennsylvania. He will be replaced by Alp Erol, the new general manager of Great Wolf Lodge.

2. Consideration of Resolution 2025-01, approving a proposed budget for Fiscal Year 2025-2026 and setting a public hearing date to adopt the final budget and levy assessments.

Mr. Weyer introduced Mr. Alp Erol, the new general manager of the Naples Great Wolf Lodge. He is replacing Mr. Bays. Mr. Erol gave a brief explanation of his background.

There was no further discussion.

3. Consideration of Resolution 2025-7, which updates the District’s slate of officers for FY 2025-2026.

Mr. Weyer explained that with the resignation of Mr. Bays and the appointment of Mr. Erol to Mr. Bays former seat, the District needs to update the District’s slate of officers for FY 2025-2026.

There was no further discussion.

4. Approval of Revised FY 2024-2025 Budget.

Ms. Ryan said that there were a couple of line items that exceeded budget by $10,000 so the District needs to adopt a revised budget to acknowledge the budget line item changes. The major change was the addition of the predator bird program which exceeded $10,000 and the reduction of the contingency fund by more than $10,000 to accommodate that increase in the predator bird program. The bottom line was unchanged.

There was no further discussion.

2

On MOTION by Mr. Rice and seconded by Mr. Stevens with all in favor, the Board of Supervisors of City Gate Community Development District approved Resolution 2025-7 updating the District’s slate of officers for FY 2025-2026.

On MOTION by Mr. Stevens and seconded by Ms. Belpedio with all in favor, the Board of Supervisors of City Gate Community Development District appointed Mr. Alp Erol to replace Mr. Bays on the Board of Supervisors.

On MOTION by Mr. Stevens and seconded by Ms. Belpedio with all in favor, the Board of Supervisors of City Gate Community Development District accepted the resignation of Mr. Bays.

5. Approval of June 9, 2025, Meeting Minutes.

Mr. Weyer presented the June 9, 2025, meeting minutes.

There was no discussion.

6. Approval of the September 18, 2025, Meeting Minutes.

Mr. Weyer presented the September 18, 2026, meeting minutes. Mr. Fruth noted that he was present at this meeting and Mr. Weyer said he would add him under the also present group.

There was no further discussion.

OPERATIONAL MATTERS

7. Approval of the FY 2024-2025 Goals & Objectives Recap.

Mr. Weyer presented the District’s completed FY 2024-2025 Goals and Objectives. He went through them line item by line item and noted that the District reached all of its goals for the fiscal year.

He said that once the Board approves the results, he will post it on the District’s website.

There was no further discussion.

3

On MOTION by Mr. Rice and seconded by Mr. Stevens with all in favor, the Board of Supervisors of City Gate Community Development District approved the District’s Fy 2024-2025 goals and objectives recap report.

On MOTION by Mr. Stevens with the Mr. Fruth attendance correction and seconded by Mr. Erol with all in favor, the Board of Supervisors of City Gate Community Development District approved the June 9, 2025 Meeting Minutes.

On MOTION by Ms. Belpedio and seconded by Mr. Stevens with all in favor, the Board of Supervisors of City Gate Community Development District approved the June 9, 2025 Meeting Minutes.

On MOTION by Ms. Belpedio and seconded by Mr. Stevens with all in favor, the Board of Supervisors of City Gate Community Development District approved the Fiscal Year 2024-2025 Revised Budget as presented.

FINANCIAL MATTERS

8. Consideration of the October 2025 District Financials.

Ms. Ryan presented the financials through the first month of this fiscal year. She said we had collected approximately $85,000 in revenues and expended approximately $35,000 in expenses. Mr. Rice wanted to know who had not paid yet. Ms. Ryan said that Uline is the one that has yet to pay. Mr. Weyer and Ms. Ryan will follow up on Uline at the end of the month if they have not sent in their payment by then.

There was no further comment or discussion.

OTHER MATTERS

9. Russ Weyer District Manager’s Report.

Mr. Weyer said that the Christmas Decorations will be installed on Thanksgiving Day.

Mr. Fruth said that there are a couple of landscape areas that need attention such as improving the sightline from the right hand side when leaving Great Wolf. Mr. Weyer said he will review with WLM and take care of the situation.

10. Legal Counsel report.

Legal Counsel was not present.

11. Josh Fruth engineering report.

Mr. Fruth reported that the start of construction of the traffic signal at Collier Boulevard and City Gate Boulevard North is imminent.

Mr. Fruth also reported that the bird situation is escalating again particularly at the Paradise Park and that the Predator Bird Service is requesting an increase to put pressure on the bird situation. Mr. Weyer asked the Board to approve the change in hours to 8 hours daily for the Bird Predator Service.

Mr. Fruth had nothing further to report.

4

On MOTION by Mr. Rice and seconded by Mr. Stevens with all in favor, the Board of Supervisors of City Gate Community Development District approved the increase to the Predator Bird Service hours.

On MOTION by Ms. Belpedio and seconded by Mr. Stevens with all in favor, the Board of Supervisors of City Gate Community Development District approved the District’s financials through October 31, 2025.

12. Supervisors’ Requests.

There were none brought forward.

13. Adjournment.

Secretary/Assistant Secretary

Chairperson/Vice-Chairperson

5

On MOTION by Mr. Rice and seconded by Mr. Stevens, with all in favor, the meeting of the Board of Supervisors of City Gate Community Development District was adjourned.

EXHIBIT 8

City Gate CDD
January 2026 Financial Package

January 31, 2026

PFM Group Consulting LLC
3501 Quadrangle Blvd
Suite 270
Orlando, FL 32817
407-723-5900

City Gate CDD
Statement of Financial Position As of 1/31/2026

General Fund

Assets

Current Assets
General Checking Account Accounts Receivable - POA Deposits
Total Current Assets

$

278,610.12
839.14
50.00

$

279,499.26

Total Assets

$

279,499.26

Liabilities and Net Assets

Current Liabilities
Accounts Payable
Total Current Liabilities

$

18,070.32

$

18,070.32

$

18,070.32

Total Liabilities

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

$

(144,523.04)
375,732.95
30,219.03

Total Net Assets

$

261,428.94

Total Liabilities and Net Assets

$

279,499.26

Page 1 of 3

City Gate CDD
Statement of Activities As of 1/31/2026

General Fund

Revenues

Off-Roll Assessments
Total Revenues

$

196,608.63

$

196,608.63

Expenses

POL Insurance Management Engineering Legal Advertising Bird Services
Web Site Maintenance Holiday Decorations Dues, Licenses, and Fees Electric
General Insurance Irrigation - Repair
Lake Landscaping Maintenance Lake Maintenance
Landscaping Maintenance & Material Sidewalk Cleaning
Streetlights
Total Expenses

$

3,014.00
6,666.68
5,155.00
548.88
22,822.50
800.00
12,050.00
175.00
1,078.84
3,685.00
2,014.52
12,415.00
2,202.00
80,475.63
3,000.00
13,840.33

$

169,943.38

Other Revenues (Expenses) & Gains (Losses)

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

$

3,553.78

$

3,553.78

Change In Net Assets

$

30,219.03

Net Assets At Beginning Of Year

$

231,209.91

Net Assets At End Of Year

$

261,428.94

Page 2 of 3

City Gate CDD
Budget to Actual
For the Month Ending 01/31/2026

Year To Date

FY 2026
Adopted Budget

Percentage Spent

Actual

Budget

Variance

Revenues
Off-Roll Assessments
Net Revenues

$

9,114.13

$

562,483.50

34.95%

$

196,608.63

$

187,494.50

$

196,608.63

$

187,494.50

$

9,114.13

$

562,483.50

34.95%

General & Administrative Expenses
POL Insurance Management Engineering District Counsel Audit
Postage & Shipping Copies
Legal Advertising Miscellaneous
Web Site Maintenance Dues, Licenses, and Fees Reserves
Electric
General Insurance Irrigation - Repair Lake Maintenance
Landscaping Maintenance & Material Wayfinding Signage
Contingency
Upgrade Lake Landscaping Maintenance Sidewalk Cleaning
Streetlights Bird Services
Tax Preparation Holiday Decorations Road Repair
Total General & Administrative Expenses

$

3,014.00
6,666.68
5,155.00
-
-
-
- 548.88
- 800.00
175.00
- 1,078.84
3,685.00
2,014.52
2,202.00
80,475.63
-
- 12,415.00
3,000.00
13,840.33
22,822.50
- 12,050.00
-

$

1,109.17
6,666.67
2,500.00
833.33
2,273.33
16.67
133.33
833.33
66.67
900.00
58.33
3,333.33
1,333.33
1,356.67
2,666.67
3,000.00
58,833.33
18,333.33
3,333.33
26,666.67
1,900.00
20,833.33
25,840.00
7.00
3,333.33
1,333.33

$

1,904.83
0.01
2,655.00
(833.33)
(2,273.33)
(16.67)
(133.33)
(284.45)
(66.67)
(100.00)
116.67
(3,333.33)
(254.49)
2,328.33
(652.15)
(798.00)
21,642.30
(18,333.33)
(3,333.33)
(14,251.67)
1,100.00
(6,993.00)
(3,017.50)
(7.00)
8,716.67
(1,333.33)

$

3,327.50
20,000.00
7,500.00
2,500.00
6,820.00
50.00
400.00
2,500.00
200.00
2,700.00
175.00
10,000.00
4,000.00
4,070.00
8,000.00
9,000.00
176,500.00
55,000.00
10,000.00
80,000.00
5,700.00
62,500.00
77,520.00
21.00
10,000.00
4,000.00

90.58%
33.33%
68.73%
0.00%
0.00%
0.00%
0.00%
21.96%
0.00%
29.63%
100.00%
0.00%
26.97%
90.54%
25.18%
24.47%
45.60%
0.00%
0.00%
15.52%
52.63%
22.14%
29.44%
0.00%
120.50%
0.00%

$

169,943.38

$

187,494.50

$

(17,551.12)

$

562,483.50

30.21%

Total Expenses

 $	169,943.38 

 $  187,494.50 

 $	(17,551.12)
 	
$	26,665.25

 $  562,483.50 

.

Net Income (Loss)

$

26,665.25

$

-

$

-

Other Income (Expense)
Interest Income

$

3,553.78

$

-

$

3,553.78

$

-

Total Other Income (Expense)

$

3,553.78

$

-

$

3,553.78

$

-

Net Income (Loss)

$

30,219.03

$

-

$

30,219.03

$

-

Page 3 of 3

EXHIBIT 9

City Gate Community Development District

FINANCIAL STATEMENTS

September 30, 2025

Table of Contents

Page

REPORT
Independent Auditor’s Report ......................................................................................

1

FINANCIAL STATEMENTS
Management’s Discussion and Analysis (required supplemental information).............

4

Basic Financial Statements
Government-Wide Financial Statements

Statement of Net Position ......................................................................................

9

Statement of Activities............................................................................................

10

Fund Financial Statements
Balance Sheet – Governmental Funds.....................................................................

11

Reconciliation of the Balance Sheet of Governmental Funds to the Statement
of Net Position ........................................................................................................

12

Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds...............................................................................................

13

Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund
Balances of Governmental Funds to the Statement of Activities ............................

14

Notes to Financial Statements ......................................................................................

15

Required Supplemental Information (other than MD&A)

Budget to Actual Comparison Schedule - General Fund .............................................

22

Independent 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 ..........................................................................

23

Management Letter ......................................................................................................

25

Independent Accountant’s Report on Compliance with Section 218.415
Florida Statutes .............................................................................................................

28

INDEPENDENT AUDITOR’S REPORT

To the Board of Supervisors
City Gate Community Development District Collier County, Florida

Opinions

We have audited the accompanying financial statements of the governmental activities and each
major fund of City Gate Community Development District (hereinafter referred to as “District”), as of and for the 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 for the 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 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

Management is responsible for the preparation and fair presentation of these 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 generally accepted auditing standards and Government Auditing Standards 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 generally accepted auditing standards and Government
Auditing Standards, 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 budget to actual comparison information on pages 4 - 8 and 22 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
- 2 -

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 Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated January
XX, 2026, on our consideration of the District's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements and other matters. The purpose of that report is 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 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.

CARR, RIGGS & INGRAM, LLC

Miramar Beach, Florida
January XX, 2026

- 3 -

Management’s Discussion And Analysis

City Gate Community Development District
Management’s Discussion and Analysis

Our discussion and analysis of the City Gate Community Development District’s financial performance
provides an overview of the District’s financial activities for the fiscal year ended September 30, 2025. Please read it in conjunction with the District’s financial statements, which begin on page 9.

FINANCIAL HIGHLIGHTS



At September 30, 2025, the assets of the District exceeded its liabilities by approximately
$277,000.

USING THE ANNUAL REPORT

This annual report consists of a series of financial statements. The Statement of Net Position and the
Statement of Activities on pages 9 – 10 provide information about the activities of the District as a whole and present a longer-term view of the District’s finances. Fund financial statements start on page 11. For governmental activities, these statements tell how these services were financed in the short-term as well as what remains for future spending. Fund financial statements also report the District’s operations in more detail than the government-wide statements by providing information about the District’s most significant funds.

Reporting the District as a Whole

Our analysis of the District as a whole begins on page 5. One of the most important questions asked
about the District’s finances is, “Is the District as a whole better off or worse off as a result of the year’s activities?” The Statement of Net Position and the Statement of Activities report information about the District as a whole and about its activities in a way that helps answer this question. These statements include all assets and liabilities using the accrual basis of accounting, which is similar to the accounting used by most private-sector companies. All of the current year’s revenues and expenses are taken into account regardless of when cash is received or paid.

These two statements report the District’s net position and related changes during the current year.
You can think of the District’s net position – the difference between assets and liabilities – as one way to measure the District’s financial health, or financial position. Over time, increases or decreases in the District’s net position is one indicator of whether its financial health is improving or deteriorating. You will need to consider other nonfinancial factors; however, such as changes in the District’s assessment base and the condition of the District’s infrastructure, to assess the overall health of the District.

- 4 -

City Gate Community Development District
Management’s Discussion and Analysis

Reporting the District’s Most Significant Funds

Our analysis of the District’s major funds begins on page 6. The fund financial statements begin on
page 11 and provide detailed information about the most significant funds – not the District as a whole. Some funds are required to be established by State law and by bond covenants. All of the District’s funds are governmental fund-types.



Governmental funds – All of the District’s basic services are reported in governmental funds,
which focus on how money flows into and out of those funds and the balances left at year-end that are available for spending. The governmental fund statements provide a detailed short-term view of the District’s general government operations and the basic services it provides. Governmental fund information helps you determine whether there are more or fewer financial resources that can be spent in the near future to finance the District’s programs.

THE DISTRICT AS A WHOLE

The following table reflects the condensed Statement of Net Position and is compared to the prior
year.

September 30,

2025

2024

Change

Assets
Current and other assets Capital assets, net

$

268,746
45,667

$

228,749
55,282

$

39,997
(9,615)

Total assets

$

314,413

$

284,031

$

30,382

Liabilities
Current liabilities

$

37,535

$

15,400

$

22,135

Total liabilities

37,535

15,400

22,135

Deferred Inflows of Resources
Deferred revenue

-

49,616

(49,616)

Total deferred inflows of resources

-

49,616

(49,616)

Net position
Net investment in capital assets Unrestricted

45,667
231,211

55,282
163,733

(9,615)
67,478

Total net position

276,878

219,015

57,863

Total liabilities, deferred inflows of
resources and net position

$

314,413

$

284,031

$

30,382

For more detailed information, see the accompanying Statement of Net Position.

- 5 -

nning of year

$

City Gate Community Development District
Management’s Discussion and Analysis

During fiscal year ended September 30, 2025, total assets and liabilities increased by approximately
$30,000 and $22,000, respectively, while deferred inflows of resources decreased by approximately
$50,000. The increase in assets and liabilities are primarily related to the current year excess and the timing of payment to vendors, respectively, while the decrease in the deferred inflows of resources is primarily related to the advance collection of fiscal year 2025 assessment amounts during the prior year.

The following schedule compares the Statement of Activities for the current and previous fiscal year.

For the year ended September 30,

2025

2024

Change

Revenue:
Program revenue: Charges for services
General revenue:
Interest and other revenue

$

498,470

$

359,010

$

139,460

21,452

8,117

13,335

Total revenue

519,922

367,127

152,795

Expenses:
General government Maintenance and operations

50,120
411,939

40,070
272,134

10,050
139,805

Total expenses

462,059

312,204

149,855

Change in net position

57,863

54,923

2,940

Net position, begi

219,015

164,092

54,923

Net position, ending of year

276,878

$

219,015

$

57,863

For more detailed information, see the accompanying Statement of Activities.

Revenue and expenses increased from the prior year by approximately $153,000 and $150,000,
respectively. Revenue increased due to an increase in budgeted assessment rates and interest earnings. The increase in expenses occurred primarily due to increased landscaping and maintenance projects in the current year. The overall result was a $57,863 increase in net position for fiscal year 2025.

THE DISTRICT’S FUNDS

As the District completed the year, its governmental funds (as presented in the balance sheet on page
11) reported a combined fund balance of approximately $231,000, which is an increase over last year’s balance that totaled approximately $164,000.

- 6 -

50,479

nd prior year follows:

46	96,146
40,864

City Gate Community Development District
Management’s Discussion and Analysis

CAPITAL ASSET ADMINISTRATION

Capital Assets

At September 30, 2025, the District had approximately $46,000 invested in capital assets, net of
accumulated depreciation. This amount represents a decrease of approximately $10,000 from the fiscal year 2024 total.

A listing of capital assets by major category for the current a

September 30,

2025

2024

Change

Capital assets being depreciated
Accumulated depreciation

$

96,1

$

$

-
9,615

Net capital assets

$

45,667

$

55,282

$

(9,615)

More information about the District’s capital assets is presented in Note 3 to the financial statements.

GOVERNMENTAL FUNDS BUDGETARY HIGHLIGHTS

An operating budget was established by the governing board for the District pursuant to the
requirements of Florida Statutes. The budget to actual comparison for the General Fund, including the original budget and final adopted budget, is shown at page 22.

The District experienced a favorable variance in revenue and expenditures as compared to the budget
in the amounts of $21,452 and $51,026, respectively. The variance in revenue occurred primarily due to interest income earned while the variance in expenditures occurred primarily due to less maintenance and operations expenses incurred than anticipated.

FUTURE FINANCIAL FACTORS

City Gate Community Development District is an independent special district that operates under the
provisions of Chapter 190, Florida Statutes. The District operates under an elected Board of Supervisors, which establishes policy and sets assessment rates. Assessments are anticipated for fiscal year 2026 to provide for the operations of the District.

- 7 -

City Gate Community Development District
Management’s Discussion and Analysis

CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT

This financial report is designed to provide a general overview of the District’s finances. If you have
questions about this report or need additional financial information, contact the City Gate Community Development District’s management company at 3501 Quadrangle Blvd., Suite 270, Orlando, Florida 32817.

- 8 -

Basic Financial Statements

City Gate Community Development District
Statement of Net Position

September 30,

2025

Governmental
Activities

Assets
Cash and cash equivalents Accounts receivable Deposits
Prepaid expenses Capital assets:
Depreciable, net

$

261,577
420
50
6,699

45,667

Total assets

314,413

Liabilities
Accounts payable

37,535

Total liabilities

37,535

Net Position
Invested in capital assets Unrestricted

45,667
231,211

Total net position

$

276,878

The accompanying notes are an integral part of these financial statements.
- 9 -

Net position - be
Net position - en

City Gate Community Development District
Statement of Activities

For the year ended September 30,

2025

Net (Expense)
Revenue and Changes in Net Position

Program Revenue

Charges for
Services

Governmental
Activities

Functions/Programs

Expenses

Primary government:
Governmental activities: General government Maintenance and operations

$

(50,120)
(411,939)

$

55,219
443,251

$

5,099
31,312

Total governmental activities

$

(462,059)

$

498,470

36,411

General revenue
Interest and other revenue

21,452

Total general revenue

21,452

Change in net position

57,863

ginning of year

219,015

d of year

$

276,878

The accompanying notes are an integral part of these financial statements.
- 10 -

City Gate Community Development District
Balance Sheet – Governmental Funds

September 30,

2025

General Fund

Assets
Cash and cash equivalents Accounts receivable Deposits
Prepaid expenditures

$

261,577
420
50
6,699

Total assets

$

268,746

Liabilities and Fund Balance
Liabilities
Accounts payable

$

37,535

Total liabilities

37,535

Fund balances
Nonspendable Unassigned

6,749
224,462

Total fund balances

231,211

Total liabilities and fund balances

$

268,746

The accompanying notes are an integral part of these financial statements.
- 11 -

City Gate Community Development District
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of
Net Position

September 30,

2025

Total fund balances, governmental funds

$

231,211

Capital assets used in governmental activities are not financial resources and
therefore are not reported in the fund financial statements.

45,667

Total net position - governmental activities

$

276,878

The accompanying notes are an integral part of these financial statements.
- 12 -

City Gate Community Development District
Statement of Revenue, Expenditures and Changes in Fund Balances –
Governmental Funds

For the year ended September 30,

2025

General Fund

Revenue
Assessments
Interest and other revenue

$

498,470
21,452

Total revenue

519,922

Expenditures
Current:
General government Maintenance and operations

50,120
402,324

Total expenditures

452,444

Excess of revenue over expenditures

67,478

Fund balance, beginning of year

163,733

Fund balance, end of year

$

231,211

The accompanying notes are an integral part of these financial statements.
- 13 -

City Gate Community Development District
Reconciliation of the Statement of Revenue, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities

For the year ended September 30,

2025

Net change in fund balances - governmental funds

$

67,478

Depreciation on capital assets is not recognized in the fund financial statements
but is reported as an expense in the Statement of Activities.

(9,615)

Change in net position of governmental activities

$

57,863

The accompanying notes are an integral part of these financial statements.
- 14 -

City Gate Community Development District
Notes to Financial Statements

NOTE 1: NATURE OF ORGANIZATION

The City Gate Community Development District (the “District”) was established on December 1, 2009
pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes, by Collier County Ordinance No. 09-68. 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 has not commenced any significant infrastructure activity as of the date of this report.

The District is governed by a Board of Supervisors (“Board”), which is comprised of five members. The
Supervisors are elected on an at large basis by the owners of the property within the District. Certain supervisors are affiliated with 850 NWN, LLC (the "Developer"). The Board of Supervisors of the District exercise all powers granted to the District pursuant to Chapter 190, Florida Statutes.

The Board has the final responsibility for:
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.

In evaluating how to define the government, for financial reporting purposes, management has
considered all potential component units. The decision to include or exclude a potential component unit in the reporting entity was made by applying the criteria set forth by Generally Accepted Accounting Principles (GAAP) as defined by the Governmental Accounting Standards Board (GASB). Based on the criteria identified therein, no potential component units were found.

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accounting policies of the District conform to GAAP as applicable to governments in accordance
with those promulgated by GASB. The following is a summary of the more significant 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 the non-fiduciary activities of the primary government.

- 15 -

asis of Presentation

City Gate Community Development District
Notes to Financial Statements

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Governmental activities, which normally are supported by assessments, are reported separately from
business-type activities, which rely to a significant extent on fees and charges for support. The business-type activities are reported separately in government-wide financial statements; however, at September 30, 2025, the District did not have any significant business-type activities. Therefore, no business-type activities are reported. Assessments and other items not properly included as program revenues (i.e., charges to customers or applicants who purchase, use, or directly benefit from goods or services) are reported as general revenues.

Separate financial statements are provided for governmental funds. Major individual governmental
funds are reported as separate columns in the fund financial statements.

Measurement Focus, Basis of Accounting and B

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 the related cash flows. Assessments are recognized as revenues in the year for which they are levied. Grants and other 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 District considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures are recorded only when payment is due.

Assessments and interest associated with the current fiscal period are all considered to be susceptible
to accrual and have been recognized as revenues of the current fiscal period. All other revenue items are considered to be measurable and available only when cash is received by the District.

The District reports the following major governmental fund:

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

For the year ended September 30, 2025, the District does not report any proprietary funds.

- 16 -

City Gate Community Development District
Notes to Financial Statements

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

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, then unrestricted resources as they are needed. When committed, assigned, or unassigned resources are available for use in the governmental fund financial statements, it is the government’s policy to use committed resources first, followed by assigned resources, then unassigned resources as needed.

Cash, Deposits and Investments

The District maintains deposits with "Qualified Public Depositories" as defined in Chapter 280, Florida
Statutes. All Qualified Public Depositories must place with the Treasurer of the State of Florida securities in accordance with collateral requirements determined by the State’s Chief Financial Officer. In the event of default by a Qualified Public Depository, the State Treasurer will pay public depositors all losses. Losses in excess of insurance and collateral will be paid through assessments between all Qualified Public Depositories.

Under this method, all the District's deposits are fully insured or collateralized at the highest level of
security as defined by GASB, Statement Number 40, Deposits and Investment Disclosures (An Amendment of GASB, Statement Number 3).

The District is authorized to invest in financial instruments as established by Section 218.415, Florida
Statutes. The authorized investments include among others negotiable direct or indirect obligations which are secured by the United States Government; the Local Government Surplus Trust Funds as created by Section 218.405, Florida Statutes; SEC registered money market funds with the highest credit quality rating from a nationally recognized rating agency; and interest-bearing time deposits or savings accounts in authorized financial institutions.

Capital Assets

Capital assets, which include primarily infrastructure assets (e.g., roads, sidewalks, water
management systems and similar items), are reported in the governmental activities column in the government-wide financial statements. Capital assets are defined by the District as assets with an initial/individual cost of more than $5,000 and an estimated useful life in excess of two years. Such assets are recorded at historical cost and estimated historical cost if purchased or constructed. Donated assets are recorded at estimated fair market 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 constructed.

- 17 -

City Gate Community Development District
Notes to Financial Statements

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Property, plant and equipment of the primary government are depreciated using the straight-line
method over the estimated useful lives. Estimated useful lives for financial reporting purposes are as follows: Infrastructure: 10 years.

In the governmental fund financial statements, amounts incurred for the acquisition of capital assets
are reported as fund expenditures. Depreciation expense is not reported in the governmental fund financial statements.

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 over the life of the bonds using the straight-line or effective interest method. Bonds payable are reported net of these premiums or discounts. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as current period expenses.

In the fund financial statements, governmental fund types recognize bond premiums and discounts
during the current period. The face amount of the 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 Net Position and Balance Sheet – Governmental Funds will
sometimes include 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. The District does not have any of this type of item at September 30, 2025.

In addition to liabilities, the Statement of Net Position and Balance Sheet – Governmental Funds 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. The District does not have any of this type of item at September 30, 2025.

Estimates

The preparation of financial statements in conformity with accounting principles generally accepted
in the U.S. requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

- 18 -

City Gate Community Development District
Notes to Financial Statements

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Fund Equity

Net position in the government-wide financial statements is 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, net of any related debt. Restricted net position represents net position restricted by outside entities. At September 30, 2025, all of the District’s net position is classified as unrestricted.

Governmental fund equity is classified as fund balance. Fund balance is further classified as
nonspendable, restricted, committed, assigned, or unassigned. Nonspendable fund balance cannot be spent because of its form. Restricted fund balance has limitations imposed by creditors, grantors, or contributors or by enabling legislation or constitutional provisions. Committed fund balance is a limitation imposed by the District board through approval of resolutions. Assigned fund balance is a limitation imposed by a designee of the District board. Unassigned fund balance in the General Fund is the net resources in excess of what can be properly classified in one of the above four categories. Negative unassigned fund balance in other governmental funds represents excess expenditures incurred over the amounts restricted, committed, or assigned to those purposes.

Budgets

The District is required to establish a budgetary system and an approved annual budget. Annual
budgets are legally adopted on a basis consistent with GAAP for the General Fund. Any revision to the budget must be approved by the District Board. The budgets are compared to actual expenditures. In instances where budget appropriations and estimated revenues have been revised during the year, budget data presented in the financial statements represent final authorization amounts.

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. A public hearing is conducted to obtain comments.
Prior to October 1, the budget is legally adopted by the District Board. All budget changes must be approved by the District Board.
Budgets are adopted on a basis consistent with accounting principles generally accepted in the United States of America.

B.
C.
D.
E.

Subsequent Events

Management has evaluated subsequent events through the date the financial statements were
available to be issued, January XX, 2026, and determined there were no events that occurred that required disclosure. No subsequent events occurring after this date have been evaluated for inclusion in these financial statements.
- 19 -

55,282
55,282	(9,615)

City Gate Community Development District
Notes to Financial Statements

NOTE 3: CAPITAL ASSETS

The following is a summary of changes in the capital assets of the year ended September 30, 2025:

Beginning
Balance

Ending
Balance

Additions

Subtractions

Governmental Activities:
Capital assets being depreciated
Infrastructure

$

96,146

$

-

$

-

$

96,146

Total capital assets, being depreciated

96,146

-

-

96,146

Less accumulated depreciation
Infrastructure

40,864

9,615

-

50,479

Total accumulated depreciation

40,864

9,615

-

50,479

Total capital assets, being depreciated, net

(9,615)

-

45,667

Governmental activities capital assets, net

$

$

$

-

$

45,667

NOTE 4: 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 maintains commercial insurance coverage to mitigate the risk of loss. Coverage may not extend to all situations. Management believes such coverage is sufficient to preclude any significant uninsured losses to the District. Settled claims have not exceeded this commercial coverage in the previous three years.

NOTE 5: 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 6: RELATED PARTY TRANSACTIONS

A significant portion of the District’s activity is dependent upon the continued involvement of the
Developer, 850 NWN, LLC, the loss of which could have a material adverse effect on the District’s operations. During the year ended September 30, 2025, the District directly assessed the Developer
$66,973 for operations and maintenance on property owned within the District’s boundaries.

- 20 -

City Gate Community Development District
Notes to Financial Statements

NOTE 7: CONCENTRATIONS

A significant portion of the District’s activity is dependent upon the continued involvement of two
landowners, ULINE and Great Wolf Resorts, the loss of which could have a material adverse effect on the District’s operations. During the year ended September 30, 2025, the District directly assessed the landowners $247,010 for operations and maintenance on property owned within the District’s boundaries. These assessments comprise approximately 50% of the District’s total revenue for the year ended September 30, 2025.

- 21 -

Required Supplemental Information
(Other Than MD&A)

City Gate Community Development District
Budget to Actual Comparison Schedule – General Fund

For the year ended September 30,

2025

Original and
Final Budget

Variance with
Final Budget

Actual Amounts

Revenue
Assessments
Interest and other revenue

$

498,470
-

$

498,470
21,452

$

-
21,452

Total revenue

498,470

519,922

21,452

Expenditures
General government Maintenance and operations

44,070
459,400

50,120
402,324

(6,050)
57,076

Total expenditures

503,470

452,444

51,026

Excess (deficit) of revenue over expenditures

$

(5,000)

$

67,478

$

72,478

- 22 -

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
City Gate Community Development District Collier 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 City Gate Community Development District (hereinafter referred to as the “District”), as of and for the 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 report thereon dated January XX, 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) as a basis for designing 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 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 may exist that have not been identified.

- 23 -

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 grant 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.

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

District’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 District’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

CARR, RIGGS & INGRAM, LLC

Miramar Beach, Florida
January XX, 2026

- 24 -

MANAGEMENT LETTER

To the Board of Supervisors
City Gate Community Development District Collier County, Florida

Report on the Financial Statements

We have audited the financial statements of City Gate Community Development District (“District”)
as of and for the fiscal year ended September 30, 2025, and have issued our report thereon dated January XX, 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 Auditor General.

Other Reporting Requirements

We have issued our Independent Auditor’s Report on Internal Control over Financial Reporting and
Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; and Independent Accountants’ 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 January XX, 2026 should be considered in conjunction with this management letter.

Prior Audit Findings

Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not
corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. There were no findings or recommendations made in the preceding annual audit report.

Official Title and Legal Authority

Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal
authority for the primary government and each component unit of the reporting entity be disclosed in this management letter, unless disclosed in the notes to the financial statements. The information required is disclosed in the notes to the financial statements.

- 25 -

Financial Condition and Management

Section 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, require us to communicate
whether or not the District has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and identification of the specific condition(s) met. In connection with our audit, we determined that the District did not meet any of the conditions described in Section 218.503(1), Florida Statutes.

Pursuant to Sections 10.554(1)(i)5.c. and 10.556(8), Rules of the Auditor General, we applied financial
condition assessment procedures for the District. It is management’s responsibility to monitor the District’s 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.

Section  10.554(1)(i)2.,  Rules  of  the  Auditor  General,  requires  that  we  communicate  any
recommendations to improve financial management. In connection with our audit, we did not have any such recommendations.

Specific Information

As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor
General, the City Gate Community Development District reported:

a. The total number of district employees compensated in the last pay period of the district’s
fiscal year as 0.

b. The total number of independent contractors to whom nonemployee compensation was
paid in the last month of the district’s fiscal year as 0.

c. All compensation earned by or awarded to employees, whether paid or accrued, regardless
of contingency as $0.

d. All compensation earned by or awarded to nonemployee independent contractors,
whether paid or accrued, regardless of contingency as $0.

e. The District does not have any construction projects with a total cost of at least $65,000
that are scheduled to begin on or after October 1 of the fiscal year being reported.

f. The District did not amend its final adopted budget under Section 189.016(6), Florida
Statutes.

As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)7, Rules of the Auditor
General, the City Gate Community Development District reported:

a.  The rate or rates of non ad-valorem special assessments imposed by the District as
ranging from $3,049 to $49,616 per quarter.

b.  The total amount of special assessments collected by or on behalf of the District as
$498,470.

- 26 -

c.	The District has no outstanding bonds.

Additional Matters

Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate 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. In connection with our audit, we did not have any such findings.

Purpose of this Letter

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, the Board of Supervisors, and applicable management, and is not intended to be and should not be used by anyone other than these specified parties.

CARR, RIGGS & INGRAM, LLC

Miramar Beach, Florida
January XX, 2026

- 27 -

INDEPENDENT ACCOUNTANT’S REPORT

To the Board of Supervisors
City Gate Community Development District Collier County, Florida

We have examined City Gate Community Development District’s compliance with the requirements
of Section 218.415, Florida Statutes, Local Government Investment Policies, during the year ended September 30, 2025. Management of the District is responsible for the District’s compliance with the specified requirements. Our responsibility is to express an opinion on the District’s compliance with the specified requirements 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 above. 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.

We are required to be independent and to meet our other ethical responsibilities in accordance with
relevant ethical requirement relating to the engagement.

Our examination does not provide a legal determination on the District’s compliance with specified
requirements.

In our opinion, the District complied, in all material respects, with the aforementioned requirements
for the year ended September 30, 2025.

This report is intended solely for the information and use of management and the State of Florida
Auditor General and is not intended to be and should not be used by anyone other than these specified parties.

CARR, RIGGS & INGRAM, LLC

Miramar Beach, Florida
January XX, 2026

- 28 -

EXHIBIT 10

Russ Weyer

From: Sent: To:
Cc: Subject:

Josh Fruth <jfruth@civilgearfl.com> Friday, February 27, 2026 10:00 AM Russ Weyer Roger@attyrogerrice.com
Declined: City Gate CDD Board of Supervisors Meeting Agenda Thursday, March 5th, 4
p.m. at Uline

I’ll be out of town.

Update:
CGBN – The contractor is working on a storage / laydown yard. Once this is established, work for the signal will continue progressing.
Wayfinding – No longer funded by the CDD, but CC is working on moving forward independently. The CDD would be responsible for maintenance (as they are with the other existing signs; i.e. quarterly cleaning).
CFA-Expected to finish work in May.

1