MINUTES OF MEETING DOWNTOWN DORAL
COMMUNITY DEVELOPMENT DISTRICT
The regular meeting of the Board of Supervisors of the Downtown Doral Community Development District was held on Monday, February 23, 2026, at 9:30 a.m. at 2020 Salzedo Street, 2nd Floor, Coral Gables, Florida 33134.

Present and constituting a quorum were:
Mike Levak	Chairman
Jose Jimenez	Assistant Secretary
Elizabeth Martinez	Assistant Secretary

Also present were:

Juliana Duque	District Manager
Michael Pawelczyk	District Counsel
Rhonda Mossing	MBS Capital Markets, LLC (by phone)

FIRST ORDER OF BUSINESS	Roll Call
Ms. Duque called the meeting to order and called the roll.

SECOND ORDER OF BUSINESS	Organizational Matters
Consideration of Appointment of Supervisor(s) to Unexpired Term(s) of Office for Seat #3 (11/2026) and Seat #5 (11/2026)
Oath of Office for Newly Appointed Supervisor(s)
Election of Officer(s)
Ms. Duque: The next item is the consideration of the appointment of Supervisors to the unexpired term of office. Just as a reminder, seats #3 and #5 remain vacant, each with a term expiring in November 2026. Are there any qualified individuals or anyone the Board would like to appoint at this time?
Mr. Jimenez: Not at this time.
Ms. Duque: Not hearing any we can just table this item.

February 23, 2026	Downtown Doral CDD
THIRD ORDER OF BUSINESS	Approval of the Minutes of the
January 26, 2026 Meeting
Ms. Duque: Let’s move forward to the next item, which is the approval of the minutes of the January 26, 2026, meeting.

On MOTION by Mr. Jimenez seconded by Mr. Levak with all in favor, the Minutes of the January 26, 2026 Meeting were approved.

FOURTH ORDER OF BUSINESS	Consideration	of	Supplement	to
Investment Banking Agreement dated April 22, 2024 regarding Bond Issuances by Downtown Doral Community Development District and MBS Capital Markets, LLC
Ms. Duque: The next item is the consideration of a supplement to the investment banking agreement dated April 22, 2024, regarding bond issuances by the Downtown Doral Community Development District with MBS Capital Markets. This item is a supplement to the existing investment banking agreement with MBS. This supplement ties that master agreement to the specific upcoming transaction: the proposed Series 2026 bonds, which will also refund the District-issued Series 2015 bonds. We have Rhonda joining us over the phone today, and if the Board has any questions about the refunding of those Series 2015 bonds, this is the moment to present them. If there is none, today the Board is being asked to approve and accept this supplement so MBS can formally proceed with work on the refunding as well.

On MOTION by Mr. Levak seconded by Mr. Jimenez with all in favor, accepting the Supplement to Investment Banking Agreement dated April 22, 2024 regarding bond issuances by Downtown Doral Community Development District and MBS Capital Markets, LLC was approved.

FIFTH ORDER OF BUSINESS	Staff Reports
Ms. Duque: Let’s move forward to staff reports, attorney.
Attorney

February 23, 2026	Downtown Doral CDD
Mr. Pawelczyk: I don’t have anything to report but, why doesn’t Rhonda give an update, since she’s on the phone, as to what the timing will be for this.
Ms. Duque: Rhonda.
Ms. Mossing: Yes, so as I think most of you know we continue to monitor the bonds that are outstanding and their optional call dates and the economics for refunding when that option call date occurs which is typically 10 years after the date of issuance of the bonds. So, in this instance, the Series 2015 Bonds are callable, the interest rate, the average is about 5.5% of those bonds currently and if we did a bank refunding which we’re able to do if it’s 20 years or less maturity. In most cases, the average interest rate right now is about 4.5%, the other option is to do a public offering with a rated and insured, refunding issue. The cost of a public offering are more than a cost of a bank financing so we’d like to pursue that first and see if we can get some interested banks competitively bidding on this, and what the rates come back at and the terms, the terms are usually what’s interesting when it’s a bank refunding, that you normally see in a public refunding but the costs are typically less. So, the timing would be probably 60 to 90 days, it takes us a little bit to get the credit package pulled together and insert the information that they’ll be seeking for that consideration in their review, and then we’ll bring it back to the Board for you to decide whether the economics are attractive enough to proceed with the refunding or if you want to wait a little bit and see what the interest rates do but, interest rates look fairly good right now and there would be savings for a refunding so we would like to pursue that, so I’m saying 60 to 90 days depending on if we go a private placement with a bank or a public offering.
Ms. Duque: Thank you, Rhonda. Ms. Mossing: You’re welcome.
Ms. Duque: Any questions? No, perfect. Ok, Mike, is there anything you need to report to the Board?
Mr. Pawelczyk:	Nothing to report for Downtown Doral unless there’s any questions for legal.
Ms. Duque: Thank you, Mike. I appreciate it.

February 23, 2026	Downtown Doral CDD
Engineer
Ms. Duque: We don’t have anything to report on under the engineer.

Manager – Discussion of Maintenance and License Agreement (CDD Property) by and between CDD and Downtown Doral Community Association, Inc.
Ms. Duque: Under the manager’s report, I have the maintenance and license agreement between the CDD and the Downtown Doral Community Association. We have not received the executed documents, and I have followed up with Mr. Morales a couple of times. I don’t know what else we need to do.
Mr. Jimenez: Full disclosure, the last meeting they approved this. Mr. Pawelczyk: They haven’t sent it to me.
Ms. Duque: Ok.
Mr. Jimenez: So, I remind him that he has it and I’ve read it and I’m fine with it, and we’ll send it.
Ms. Duque: Thank you, Joe. I appreciate that.

SIXTH ORDER OF BUSINESS	Financial Reports
Approval of Check Run Summary
Acceptance of Unaudited Financials
Ms. Duque: Let’s move forward, then, to the financial reports. Tab A is the approval of the check run summary, and Tab B is the acceptance of the unaudited financials. So, unless there are any questions about those two, a motion to approve them will take place.

On MOTION by Mr. Levak seconded by Mr. Jimenez with all in favor, Check Run Summary and Balance Sheet and Income Statement were approved.

SEVENTH ORDER OF BUSINESS	Supervisors Requests and
Audience Comments
Ms. Duque: Are there any Supervisor’s requests? Not hearing any, I would like to mention that no one is present from the public or attending over the phone, so there are no audience comments.

February 23, 2026	Downtown Doral CDD
EIGHTH ORDER OF BUSINESS	Adjournment
Ms. Duque: A motion to adjourn will take place.

On MOTION by Mr. Levak seconded by Mr. Jimenez with all in favor, the meeting was adjourned.

Assistant Secretary /Secretary	Chairman / Vice Chairman

Certificate Of Completion

Envelope Id: F04D4699-C9B6-46A0-895F-470C49E23938	Status: Completed Subject: Downtown Doral- 2-23-26 Minutes, Resolution 2026-02
Source Envelope:
Document Pages: 6	Signatures: 4	Envelope Originator:
Certificate Pages: 2	Initials: 0	Ellen Acosta

AutoNav: Enabled
EnvelopeId Stamping: Enabled
Time Zone: (UTC-08:00) Pacific Time (US & Canada)

1001 Bradford Way
Kingston, TN 37763 eacosta@gmssf.com
IP Address: 162.199.192.217

Record Tracking

Status: Original
4/2/2026 12:56:38 PM

Holder: Ellen Acosta
eacosta@gmssf.com

Location: DocuSign

Signer Events	Signature	Timestamp

Juliana Duque jduque@gmssf.com
District Manager - Assistant Secretary
Security Level: Email, Account Authentication
(None)	Signature Adoption: Drawn on Device
Using IP Address: 2601:586:5382:cb60:2077:43bd:39fd:8d4a

Sent: 4/2/2026 1:07:21 PM Viewed: 4/2/2026 1:08:25 PM Signed: 4/2/2026 1:08:32 PM

Electronic Record and Signature Disclosure:
Not Offered via Docusign

Mike Levak mlevak@cchomes.com VP

(None)	Signature Adoption: Pre-selected Style
Using IP Address: 2600:1700:6070:2f70:8d13:2cca:3150:6a3f		
Electronic Record and Signature Disclosure:
Not Offered via Docusign			
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Envelope Summary Events	Status	Timestamps	
Envelope Sent	Hashed/Encrypted	4/2/2026 1:07:22 PM	

Security Level: Email, Account Authentication

Sent: 4/2/2026 1:07:22 PM Viewed: 4/2/2026 6:03:59 PM Signed: 4/2/2026 6:04:12 PM

Envelope Summary Events	Status	Timestamps	
Certified Delivered	Security Checked	4/2/2026 6:03:59 PM	
Signing Complete	Security Checked	4/2/2026 6:04:12 PM	
Completed	Security Checked	4/2/2026 6:04:12 PM	
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