Mandolin/Windsor Series 2008 Refunding

This statement below does not in anyway replace or revise any part of the recent notification received, required for the process concerning refinancing of the debt bonds.

The CDD is contemplating the refinancing of the Series 2001 debt associated with the Mandolin and Windsor Neighborhoods outlined in the reports and information you have already received. The intentions of the District are to:

• Maintain the same period to repay (retirement) and reduce the annual debt service as described in table below.

  Product Type	Current Annual Debt Service Assessment Per Unit	Estimated Proposed New Annual Debt Service Assessment Per Unit	Estimated Proposed New Annual Debt Service Assessment Per Unit
  Townhomes	$405	$363	($42)
  Single Family 50s	$711	$636	($75)
  Single Family 60's	$811	$727	($84)

• Reduce the current debt interest rate.
• Rivercrest CDD and Panther Trace CDD just went through a similar process.

Simply stated, the process and concept is similar to refinancing a home loan to achieve an interest reduction to reduce the annual debt service portion of your annual CDD fees.

Please feel free to call the DMS office if you have any questions at (813) 873-7300.