NOTICE OF RECEIPT OF PETITION

On July 5, 2007, the Florida Land and Water Adjudicatory Commission (“FLWAC” or “Commission”) received a petition to establish the Bexley Community Development District I (the “District”). The Commission will follow the requirements of Chapter 42-1, Florida Administrative Code (F.A.C.), as amended, and Chapter 190, Florida Statutes (F.S.), as amended, in ruling on this petition.

SUMMARY OF CONTENTS OF PETITION: The petition, filed by NNP-Bexley, Ltd., requests the Commission to establish a community development district located entirely within unincorporated Pasco County, Florida. The land area proposed to be served by the District comprises approximately 2,528.306 acres. A general location map is contained as Exhibit 1 to the petition to establish the District. There is no real property located within the external boundaries of the proposed District to be excluded from the District. The Petitioner has obtained written consent to establish the District from the landowners of 100% of the real property located within the proposed District. The proposed infrastructure plan consists of district roads and street lighting, county owned off-site roadways, state owned off-site roadways, water and wastewater, irrigation system, surface water management, landscaping and security walls, and park and recreational facilities.

SUMMARY OF ESTIMATED REGULATORY COSTS: The statement of estimated regulatory costs (SERC) supports the petition to establish the District. The complete text of the SERC is contained as Exhibit 7 to the petition. The requirements for a SERC are found in Section 120.541(2), F.S. A SERC must contain (a) a good faith estimate of the number of individuals and entities likely to be required to comply with the rule, together with a description of the types of individuals likely to be affected by the rule; (b) a good faith estimate of the costs to the agency, and to any other state and local government entities, of implementing and enforcing the proposed rule, and any anticipated effect on state or local revenues; (c) a good faith estimate of the transactional costs likely to be incurred by individuals and entities, including local governmental entities, required to comply with the requirements of the rule; (d) an analysis of the impact on small businesses as defined by Section 288.703, F.S., and an analysis of the impact on small counties and small cities as defined by Section 120.52, F.S.; (e) any additional information that the agency determines may be useful; and (f) any good faith written proposal submitted under Section (a) and either a statement adopting the alternative or a statement rejecting the alternative in favor of the proposed rule. Addressing Section (a), the District, the State of Florida and its residents, Pasco County and its residents, current property owners of lands within the boundaries of the proposed District and future property owners are the principal entities that are likely to be required to comply with the rule. Under Section (b), FLWAC and the State of Florida will incur administrative costs. Pasco County may incur costs resulting from the initial review and on-going costs resulting from the on-going administration of the District. There is a $15,000 filing fee paid to Pasco County to offset any costs it may incur. Adoption of the proposed rule to approve the formation of the District will not have an adverse impact on State and local revenues. Addressing Section (c), the District may levy non-ad valorem special assessments on properties within its boundaries to finance infrastructure that the District funds and to defray the costs of operating and maintaining the infrastructure and associated community facilities. The District may issue notes, bonds, or other indebtedness to fund its improvement program. Prospective future land owners would be required to pay off such indebtedness over time in the form of non-ad valorem special assessments or other rates, fees or charges. The District may also impose an annual levy for the operation and maintenance of the District. Under Section (d), approval of the petition to establish the District will have no impact or a positive impact on small businesses. The petition to establish the District will not have an impact on small counties as Pasco County is not a small county as defined by Section 120.52, F.S. Under Section (e), certain data utilized in the report was provided by the developer/petitioner and represents the best information available at the time. Other data was provided by Rizzetta & Company and was based on observations, analysis and experience with private development and other Districts in various stages of existence.

A LOCAL HEARING WILL BE HELD AT THE TIME, DATE AND PLACE SHOWN BELOW:

DATE AND TIME: Monday, October 8, 2007, 10:00 a.m.

PLACE: Dade City Council Chambers, Council Chambers, 37420 Meridian Avenue, Dade City, Florida

Any person requiring a special accommodation to participate in the hearing because of a disability should contact: Susan E. Johnson-Velez, Fowler White Boggs Bank, P.A., Post Office Box 1438, Tampa, Florida 33601, telephone (813)228-7411, at least two (2) business days in advance in order to provide sufficient opportunity to make appropriate arrangements.

Copies of the petition may be obtained by contacting: Susan E. Johnson-Velez, Fowler White Boggs Bank, P.A., Post Office Box 1438, Tampa, Florida 33601, telephone (813)228-7411; or Barbara Leighty, Executive Office of the Governor, The Capitol, Room 1801, Tallahassee, Florida 32399-0001, telephone (850)487-1884.