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STATEMENT OF ESTIMATED REGULATORY COSTS 1.0 Introduction 1.1 Purpose and Scope This Statement of Estimated Regulatory Costs ("SERC") supports the petition to establish the LP Community Development District ("District") in accordance with the "Uniform Community Development District Act of 1980," Chapter 190, Florida Statutes (the "Act"). The proposed District will comprise approximately 502.47 +/- acres of land located within unincorporated Indian River County, Florida (the "County'? and is projected to contain approximately 913 residential dwelling units and 208,900 square feet of commercial/office space, which will make up the LP development. The limitations on the scope of this SERC are explicitly set forth in Section 190.002(2)(d), Florida Statutes ("F.S.'� (governing District establishment) as follows: "That the process of establishing such a district pursuant to uniform general law be fair and based only on factors material to managing and financing the service delivery function of the district, so that any matter concerning permitting or planning of the development is not material or relevant (emphasis added)." 1.2 Overview of the LP Community Development District The District is designed to provide public infrastructure, services, and facilities along with operation and maintenance of the same to a master planned mixed-use development currently anticipated to contain a total of approximately 913 residential dwelling units and 208,900 square feet of commercial/office space, all within the boundaries of the District. Tables 1 and 2 under Section 5.0 detail the anticipated improvements and ownership/maintenance responsibilities the proposed District is anticipated to construct, operate and maintain. A community development district ("CDD") is an independent unit of special purpose local government authorized by the Act to plan, finance, construct, operate and maintain community -wide infrastructure in planned community developments. CDDs provide a "solution to the state's planning, management and financing needs for delivery of capital infrastructure in order to service projected growth without overburdening other governments and their taxpayers." Section 190.002(1)(a), F.S. A CDD is not a substitute for the local, general purpose government unit, i.e., the city or county in which the CDD lies. A CDD does not have the permitting, zoning or policing powers possessed by general purpose governments. A CDD is an alternative means of financing, constructing, operating and maintaining public infrastructure for developments, such as LP. 1.3 Requirements for Statement of Estimated Regulatory Costs Section 120.541(2), F.S., defines the elements a statement of estimated regulatory costs must contain: (a) An economic analysis showing whether the rule directly orindirectly: 112