The story,as it unfolded.

Planned Development rezoning for the G. Harvey Project

Glades County approved a Planned Development rezoning by Ordinance No. 2020-3. The project was then identified as the G. Harvey Project.

Development agreement with Glenn Harvey

A development agreement was entered between Glades County and then-owner Glenn Harvey.

Okeechobee Community Developers LLC formed

The developer was formed as a Florida limited liability company and is described in later documents as a special-purpose entity.

Project land sold to the developer

Glenn Harvey sold the project property to Okeechobee Community Developers LLC. December 2025 CDD documentation states the approximately 525-acre land was acquired for about $13.9 million, funded partly by developer equity and partly by two purchase-money mortgages that were later satisfied. About $3.5 million was attributed to Assessment Area One.

An earlier approximately $8.9 million figure is superseded. The deed's stated consideration has not been separately confirmed.

Planned Development rezoning RZ22-02

Glades County approved the developer's Planned Development rezoning request, identified as RZ22-02.

Lakefront Estates Community Development District created

Glades County enacted Ordinance No. 2023-7 creating the district. The ordinance became effective April 18, 2023.

Assessment Area One land development reported to have started

Land development for Assessment Area One commenced, according to later offering documents.

Development agreement with the developer

Development agreement between Glades County and Okeechobee Community Developers LLC. The recorded agreement lists a developer address of 34 Airport Road, Suite 402, Lakewood, NJ 08701.

The address is a business address from the agreement, not a personal residence.

Fund I Form D

EB5 United Okeechobee LLC filed a Form D reporting a $100 million offering size and $10.45 million amount sold, with an $800,000 minimum investment.

Bond authorization, not an issuance

CDD Resolution No. 2023-30 authorized issuance of not exceeding $132 million aggregate principal amount of bonds. Authorization is not proof that $132 million was issued.

Master engineer's report and capital-improvement planning

Capital-improvement planning by the Newlines / Steven L. Dobbs engineering team. Cost tables in this set do not all use the same total.

Bond-validation judgment date held for sourcing

A bond-validation case has been associated with April 22, 2024. The judgment is not summarized here.

Senior construction financing dated

Construction Loan Services II LLC senior construction financing documents date from this period. Original maximum principal was later described as $28,039,591.17.

EB-5 note referenced in the later mortgage

A later recorded mortgage refers to an amended and restated EB-5 promissory note. The December 31, 2025 instrument identifies $58,175,000 of EB-5 note principal. Preserve the instrument wording when the PDF is quoted.

First supplemental engineer's report

Date cited in Series 2025 bond documents for the first supplemental engineer's report.

CDD packet shows the developer membership split

CDD draft and offering material publicly showed the direct LLC membership split later repeated in the December offering document.

Developer-reported home sales to buyers commenced

Offering documents report that home sales to buyers commenced. This is a sales start, not a recorded closing.

Fund II Form D

EB5 United Okeechobee II LLC filed a Form D reporting a $100 million offering size and $4,650,100 amount sold, with an $800,000 minimum investment.

Developer-reported spending and construction-loan snapshot

The December offering document reports about $20 million outstanding on the construction loan, about $34.59 million to $35 million of land-development costs, about $18 million of vertical construction, about $3.5 million of general conditions, and about $33 million in a combined architecture, consulting, marketing, and financing category.

Series 2025 bond resolution

CDD Resolution No. 2025-09 concerning Series 2025 bonds, during the supplemental engineering and reporting period.

Models, contracts, and construction reported

Seven model homes were reported constructed. Approximately 15 homes were reported sold to homebuyers at an average price of $560,000. That wording is treated as contracted sales, not recorded closings. About $325,000 in deposits were reported received. About 52 homes were reported under construction.

Collective EB-5 loan reported at about $92 million outstanding

The offering document reports approximately $92 million outstanding to EB-5 United Okeechobee LLC and EB-5 United Okeechobee II LLC, against a $200 million maximum principal, at 7% interest, with final maturity in June 2028 and two one-year extensions.

CDD limited offering memorandum dated

Date of the Lakefront Estates CDD limited offering memorandum used as a major source for ownership, project status, financing, spending, and the Series 2025 bonds.

Series 2025 bonds issued

Special assessment bonds issued in the aggregate principal amount of $8.99 million for Assessment Area One.

Construction mortgage amended, restated, and consolidated

The instrument identifies $58,175,000 of existing EB-5 note principal and $19,461,366.93 of construction-loan balance, sets a new $200 million maximum principal, and contains a future-advance ceiling of up to $400 million. The $92 million November figure and the $58.175 million note are separate dated observations and are not reconciled here.

Consolidated mortgage recorded

Glades County instrument 202622000044, Official Records Book 422, Page 247.

Placement page lists EB-5 offerings as closed

Primary Capital's closed-transactions page listed the first Okeechobee EB-5 offering as closed in December 2025 and the second as closed in April 2026, each with a stated $100 million funding target. A target, or a "closed" label, is not a verified disbursement.

Earlier documents expected closings to begin

Earlier offering documents expected homebuyer closings to commence around May 2026. Those expected dates are not recorded deeds.

Sponsor page describes the raise as complete

EB5 United's project-status page described Lakefront as fully subscribed and closed to new investors. That page did not state an exact final dollar total.

Community association officers amended

An amended Florida filing for Lakefront Community Association, Inc. lists Yidel Perlstein as president, Menachem Silber as vice president, and Jeff Akerman as secretary and treasurer. A May 29, 2026 filing had listed different officers. Association office is not a change in developer ownership.

Neighborhood association incorporated

Lakefront Estates Neighborhood Association, Inc. incorporated as a Florida nonprofit, document number N26000013287, with the same three officer names as the September 16 community-association amendment.

New CDD fiscal year

The fiscal year 2026-27 budget is the current budget-year reference. Several Rashi Drive listings were under contract, or showed a conflicting pending status, around October 1, 2026. Those rows are listings, not closings.

Recorded closings as of October 7, 2026

No individual home deed closing is confirmed as of October 7, 2026. The county index was verified only through September 24, 2026, so this is not a finding that no closing occurred.