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Solana PID Annual Service Plan Update 2017-18 Part Bv2.1 SOLANA PUBLIC IMPROVEMENT DISTRICT WESTLAKE, TEXAS ANNUAL SERVICE PLAN UPDATE – ASSESSMENT PART B January 29, 2018 1 SOLANA PUBLIC IMPROVEMENT DISTRICT WESTLAKE, TEXAS ANNUAL SERVICE PLAN UPDATE – ASSESSMENT PART B A. Introduction Solana Public Improvement District (the “PID”) was created pursuant to the PID Act and a resolution of the Town Council on February 24, 2014 to finance certain public improvement projects for the benefit of the property in the PID. The Town of Westlake, Texas Special Assessment Revenue Bonds, Series 2015 (Solana Public Improvement District Project) (the “Series 2015 Bonds”) in the aggregate principal amount of $26,175,000 were issued to finance, refinance, provide or otherwise assist in the acquisition, construction and maintenance of the public improvements provided for the benefit of the property in the PID. In addition, reimbursement obligations for the Reimbursement Agreement in the aggregate principal amount of $3,400,000 and deferred Assessment Part B in the total amount of $2,425,000 are secured by special assessments. A service and assessment plan (the “Service and Assessment Plan”) was prepared at the direction of the Town identifying the public improvements (the “Authorized Improvements”) to be provided by the PID, the costs of the Authorized Improvements, the indebtedness to be incurred for the Authorized Improvements, and the manner of assessing the property in the PID for the costs of the Authorized Improvements. Pursuant to Chapter 372, Texas Local Government Code, the Service and Assessment Plan must be reviewed and updated annually. According to the Service and Assessment Plan, A portion of Improvement Project B was to be financed with Assessment Part B, the levy of which deferred until such date that the Town gives its final approval to a site plan and construction drawings for the construction of the parking garage. The Town has approved the site plan and construction drawings for the parking garage. This document is the second part of the annual update of the Service and Assessment Plan for 2017-18 for the levy of Assessment Part B (the “Annual Service Plan Update”). The Town also adopted assessment rolls (the “Assessment Rolls”) identifying the assessments on each parcel within the PID, based on the method of assessment identified in the Service and Assessment Plan. This Annual Service Plan Update also includes the Assessment Roll for Assessment Part B. Capitalized terms shall have the meanings described in the Service and Assessment Plan unless otherwise defined herein. B. Update of the Service Plan Annual Budget for the Public Improvements The current total estimated Authorized Improvements Costs are equal to $26,485,998, which remain the same as the budget estimates included in the original Service and Assessment Plan. According to the Developer, the aggregate budget for the Authorized 2 Improvements (including the original budget for Improvement Project B) remains unchanged and therefore no changes for the Annual Service Plan Update. As shown by Table A below, the PID has incurred indebtedness in the total amount of $29,575,000 in the form of the Series 2015 Bonds and the Reimbursement Agreement, which are to be repaid from Assessment Part A. In addition, the PID incurred indebtedness in the total amount of $2,425,000 for Improvement Project B to be financed through a reimbursement agreement dated as of January 29, 2018 (the “Reimbursement Agreement – Part B”). Table A Sources and Uses of Funds Public Improvements Sources of Funds Assessment Part A Assessment Part B Total Estimated Authorized Improvements Series 2015 Bonds Reimbursement Agreement Reimbursement Agreement –Part B Improvement Project A Improvement Project A Improvement Project B Bond par amount $26,175,000 $0 $0 $26,175,000 Reimbursement agreement amount $0 $3,400,000 $2,425,000 $5,825,000 Developer funds $0 $0 $3,735,000 $3,735,000 Total Sources $26,175,000 $3,400,000 $6,160,000 $35,735,000 Uses of Funds Authorized Improvements Road improvements $3,767,430 $622,470 $0 $4,389,900 Water distribution system improvements $890,040 $171,680 $0 $1,061,720 Sanitary sewer improvements $1,531,196 $350,100 $0 $1,881,296 Storm drainage improvements $1,154,306 $579,566 $0 $1,733,872 Landscaping improvements $1,830,501 $0 $0 $1,830,501 Duct bank improvements $640,304 $93,650 $0 $733,954 Other costs $8,120,860 $573,896 $0 $8,694,755 Parking facility improvement $0 $0 $6,160,000 $6,160,000 Subtotal $17,934,637 $2,391,362 $6,160,000 $26,485,998 Bond issue costs Capitalized interest $3,216,750 $218,620 $0 $3,435,370 Debt service reserve $2,074,313 $340,000 $0 $2,414,313 Other bond issuance related costs $2,949,301 $450,018 $0 $3,399,319 Subtotal $8,240,364 $1,008,638 $0 $9,249,002 Total Uses $26,175,000 $3,400,000 $6,160,000 $35,735,000 3 A service plan must cover a period of five years. All of the Authorized Improvements are expected to be built within a period of five years. The anticipated budget for the Authorized Improvements over a period of five years and the indebtedness expected to be incurred for these costs is shown by Table B. Table B Authorized Improvements Annual Projected Costs and Indebtedness 2015 - 2022 Year Annual Projected Cost Annual Projected Indebtedness Sources other than PID Bonds Projected Annual Installments 2015 $29,575,000 $29,575,000 $0 $0 2016 $0 $0 $0 $407,295 2017 $0 $0 $0 $1,650,314 2018 $6,160,000 $2,425,000 $3,735,000 $2,378,306 2019 $0 $0 $0 $2,547,179 2020 $0 $0 $0 $2,594,521 2021 $0 $0 $0 $2,598,544 2022 $0 $0 $0 $2,600,749 $35,735,000 $32,000,000 $3,735,000 $14,776,908 Assessment Part B Pursuant to the Service and Assessment Plan, the Actual Costs of Improvement Project B may be assessed using any methodology that results in the imposition of equal shares of the Actual Costs on Improvement Area #1 Assessed Property similarly benefited. A map showing Improvement Area #1 is included as Appendix A-1 herein. The Town obtained an estimate of the cost of the Authorized Improvements, specifically, a portion of the parking garage costs and deferred the levy of Assessment Part B to pay for a portion of the parking garage costs until such time that the Town gives its final approval to a site plan and construction drawings for the construction of the parking garage. According to the Town, the site plan and construction drawings for the parking garage, attached herein as Appendix B-1, have been approved. As a result, Assessment Part B will be levied on the Improvement Area #1 Assessed Property as described herein. The parcels within Improvement Area #1, the estimated total Equivalent Units, the total Assessment Part B, the projected Administrative Expenses and the projected Annual Installment Part B are shown in the Assessment Roll – Part B attached hereto as Appendix C-1. C. Update of the Assessment Plan The Service and Assessment Plan adopted by the Town Council provided that the Authorized Improvement Costs shall be allocated to the Assessed Property equally on the basis of estimated Equivalent Units as calculated and shown in Appendix D of the 4 Service and Assessment Plan using the types and number of lots anticipated to be developed on each Parcel once such property is fully developed, and that such method of allocation will result in the imposition of equal shares of the Authorized Improvement Costs to Parcels similarly benefited. Assessment Part B For purpose of the Service and Assessment Plan, the Town Council has determined that the Actual Costs of Improvement Project B to be financed through the Reimbursement Agreement – Part B shall be allocated to the Improvement Area #1 Assessed Property by spreading the entire Assessment Part B across the Parcels based on the estimated Equivalent Units as calculated and shown in the 2017-18 Annual Service Plan Update and attached herein as Appendix D-1 using the types and number of lots anticipated to be developed on each Parcel of the Improvement Area #1 Assessed Property. As part of the determination as to the ability of different Land Use Classes to utilize and benefit from the Authorized Improvements, the Town Council has taken into consideration that larger, more expensive homes, on average, will create more vehicle trips and greater demands for water and wastewater consumption, and larger, more expensive homes are likely to be built on larger, more valuable lots. Based on the estimates of the costs of Improvement Project B that benefit the Assessed Property in Improvement Area, and set forth in Table A, the Town Council has determined that the benefit to the Improvement Area #1 Assessed Property, is at least equal to the Assessment Part B levied on the Improvement Area #1 Assessed Property. The Assessment Part B and Annual Installment Part B for each Parcel or Lot of the Assessed Property in the Improvement Area #1 are shown in the Assessment Roll - Part B, attached herein as Appendix C-1, and no Assessment Part B shall be changed except as authorized by the Service and Assessment Plan, as updated from time to time, or the PID Act. Upon subdivisions of any Parcel, the Assessment Part B applicable to a Parcel will be apportioned pro rata to the resulting Parcels based on the Equivalent Units of each newly created Parcel. For residential Lots, when final residential building sites are platted, Assessment Part B will be apportioned proportionately among each Land Use Class based on the ratio of the Equivalent Unit applicable to each Land Use Class at the time Lots are platted to the total Equivalent Units of all Lots in the platted Parcel, as determined by the Administrator with due consideration of the mandatory prepayment provisions described in Section VI.C of the Service and Assessment Plan and confirmed by the Town Council. The result of this approach is that each final Lot within a recorded subdivision plat with similar values will have the same Assessment Part B, with larger, more valuable Lots having a proportionately larger share of the Assessments than smaller, less valuable Lots. The Improvement Area #1 Assessed Property will be assessed for the special benefits conferred upon the property as a result of the Improvement Part B that benefit the property within Improvement Area #1 of the PID. Table A summarizes the $6,160,000 in special benefit received by the Improvement Area #1 Assessed Property from Improvement Project B. The total amount of the Reimbursement Agreement – Part B is $2,425,000, which is less than the benefit received by the Improvement Area #1 Assessed Property, and as such the total Assessment Part B for Improvement Area #1 Assessed 5 Property is $2,425,000. The total Equivalent Units for Improvement Area #1 is 324.63 as shown in the detailed calculation of the Equivalent Units shown in Appendix D of the Service and Assessment Plan. The summary of The Assessment Part B per Equivalent Unit is, therefore $7,470.02 ($2,425,000 ÷ 324.63 = $7,470.02). Table C on the following page sets forth a summary of Assessment Part B per unit for each of the Land Use Classes in Improvement Area #1. Table C Assessment Part B per Unit Type Planned No. of Units Assessment Part B per Equivalent Unit Equivalent Unit Factor Assessment Part B per dwelling unit or 1,000 square feet Total Assessment Part B Improvement Area #1 Land Use Class 1 38 $7,470.02 1.00 $7,470.02 per dwelling unit $283,860.95 Land Use Class 2 71 $7,470.02 0.62 $4,631.42 per dwelling unit $328,830.49 Land Use Class 3 6 $7,470.02 0.60 $4,482.01 per dwelling unit $26,892.09 Land Use Class 10 372.10 $7,470.02 0.22 $1,643.41 per 1,000 Sq. Ft $611,509.53 Land Use Class 11 266.10 $7,470.02 0.20 $1,494.00 per 1,000 Sq. Ft $397,554.72 Land Use Class 12 255.50 $7,470.02 0.21 $1,568.71 per 1,000 Sq. Ft $400,804.18 Land Use Class 13 264.60 $7,470.02 0.19 $1,419.30 per 1,000 Sq. Ft $375,548.03 Total Assessment Part B $2,425,000.00 D. Update of the Terms of the Assessments Amount of Assessment Part B and Annual Installments Part B The Assessment Part B and Annual Installments Part B for each Parcel of Assessed Property located within the Improvement Area #1 of the PID are shown in the Assessment Roll, attached as Appendix C-1, and no Assessment Part B shall be changed except as authorized by this Service and Assessment Plan and the PID Act. The Annual Installments Part B shall be collected in an amount sufficient to pay principal and interest on the Reimbursement Agreement-Part B and to pay Administrative Expenses. The provisions regarding reallocation of Assessment Part B, mandatory prepayment of Assessments, reduction of Assessments and payment in full have been included in the Service and Assessment Plan and remain unchanged. Payment of Assessment Part B in Annual Installments The Act provides that an Assessment for a Parcel may be paid in full at any time. If not paid in full, the Act authorizes the Town to collect interest, administrative expenses and other authorized charges in Annual Installments. An Assessment for a Parcel that is not paid in full will be collected in Annual Installments each year in the amounts shown in 6 the Assessment Rolls, as updated each year. Payment of the Annual Installments shall commence with tax bills mailed after the levy of the Assessments. Each Assessment Part B shall be paid with interest based on an interest rate of 6.43% per annum for years 1 through 5 and 5.855% per annum following the fifth Annual Installment in accordance with the Reimbursement Agreement – Part B. Each Assessment shall be paid at a rate not to exceed five hundred basis points above the highest average index rate for tax-exempt bond reported in a daily or weekly bond index approved by the Town and reported in the month prior to the establishment of the Assessment Part B and continuing for a period of five years from such date. Such rate shall then adjust and shall not exceed two hundred basis points above the bond index rate described above and shall continue until Assessment Part B is paid in full. The index approved by the Town is the Bond Buyer Index for which the highest average rate during January 2018 was 4.03%. The Town has determined that the Assessment Part B shall bear interest at the interest rate of 6.43% per annum for years 1 through 5 and 5.855% per annum following the fifth Annual Installment, which rates are equal to or less than the initial maximum allowable rate of interest of 9.03% for years 1 through 5 and equal to or less than the maximum allowable rate of interest following the fifth Annual Installment, which would be 6.03%. Furthermore, the principal and interest component of the Annual Installments may not exceed the amounts shown on the Assessment Roll – Part B. The Assessment Rolls – Part B, to be updated with the applicable interest rate on the Assessment Part B, are shown in Appendix C-1. The Annual Installment Part B shall be reduced in the Service and Assessment Plan or Annual Service Plan Updates to equal the actual costs of repaying the Reimbursement Agreement – Part B and actual Administrative Expenses (as provided for in the definitions of such terms), taking into consideration any other available funds for these costs, such as interest income on account balances. E. Update of the Assessment Roll The Assessment Part B and Annual Installments Part B for each Parcel of Assessed Property located within the Improvement Area #1 are shown in the Assessment Roll – Part B, attached as Appendix C-1 herein. Pursuant to the Service and Assessment Plan, the Assessment Roll shall be updated each year to reflect: (i) the identification of each Parcel (ii) the Assessment for each Parcel of Assessed Property, including any adjustments authorized by this Service and Assessment Plan or in the PID Act; (iii) the Annual Installment for the Assessed Property for the year (if the Assessment is payable in installments); and (iv) payments of the Assessment, if any, as provided by Section VI.H of the Service and Assessment Plan. Each parcel in the PID is identified, along with the Assessment Part B on each Parcel and the Annual Installment Part B to be collected from each parcel. Assessments are to be reallocated for the subdivision of any parcels pursuant to the reallocation provisions described in the Service and Assessment Plan. 7 Appendix A-1 Improvement Area #1 Map 8 Appendix B-1 Site Plan and Construction Drawings – Improvement Project B 2595 Dallas Parkway, Suite 204Brown & Gay Engineers, Inc.TBPE Registration No. F-1046Tel: 972-464-4800Ɣwww.browngay.comCopyright 2015Contact:Will JanneyTel: 972-464-4835CENTURION AMERICAN GAS PAD SITE AT WESTLAKE ENTRADA BEING 3.739 ACRES TOWN OF WESTLAKE, TARRANT COUNTY, TEXAS BROWN & GAY ENGINEERS, INC.1800 Valley View Lane, Suite 300CENTURION AMERICANDEVELOPERContact:Michael BeatyTel: 214-287-9009GAS PAD PD SITE PLAN PACKAGE C3OVERALL LEGENDMAGUIRE PARTNERS -SOLANA LAND L.P.9 Village Circle, Suite 500Roanoke, Texas 76262Brown & Gay Engineers, Inc.Tel: 817-887-6130 Ɣwww.browngay.comCopyright 2015CENTURION AMERICAN1800 Valley View Lane, Suite 300Framers Branch, Texas 75234Contact: Michael BeatyTelephone: (214)-287-9009 Level 1 100' - 0" Level 2 111' - 4" Level 3 122' - 0" Level-0 Stair Base 92' - 0" NATURAL STONE VENEER OPENING W/ CAST STONE CAP CLAY TILE ROOF GARAGE ENTRANCE CAST STONE WATERTABLE NATURAL STONE WALL W/ CAST STONE WALL CAP Level 1 100' - 0" Level 2 111' - 4" Level 3 122' - 0" HAND TROWELED STUCCO HAND TROWELED STUCCO WALL BEYOND NATURAL STONE WALL OPENING CLAY TILE ROOF BEYOND NATURAL STONE ARCH NATURAL STONE VENEER BEYOND CAST STONE WALL CAPS CAST STONE WATERTABLE 2015180 03.11.2016 NORTH ELEVATION SCALE : 1/8" = 1'-0" SOUTH ELEVATION SCALE : 1/8" = 1'-0" ENTRADA GAS PAD SITE | PARKING GARAGE ELEVATIONS Ordinance 778 Level 1 100' - 0" Level 2 111' - 4" Level 3 122' - 0" CLAY TILE ROOF MEDALLION PLACEHOLDER FOR ENTRADA LOGO HAND TROWELED STUCCO W/ CAST STONE CAP NATURAL STONE VENEER NATURAL STONE ARCHES HAND TROWELED STUCCO WALL BEYOND EGRESS OPENINGS MEDALLION PLACEHOLDER FOR ENTRADA LOGO NATURAL STONE VENEER W/ CAST STONE CAP NATURAL STONEARCHESEGRESSOPENING GARAGE ENTRANCE Level 1 100' - 0" Level 1 100' - 0" Level 2 111' - 4" Level 2 111' - 4" Level 3 122' - 0" Level 3 122' - 0" Level-0 Stair Base 92' - 0" Level-0 Stair Base 92' - 0" CLAY TILE ROOF BEYOND NATURAL STONE VENEER W/ CAST STONE CAP NATURAL STONE VENEER BEYOND OPENINGS W/ CAST STONECAPHANDTROWELEDSTUCCORETAINING WALL HAND TROWELED STUCCO HAND TROWELED STUCCO WALL BEYOND HAND TROWELED STUCCO RETAINING WALL CAST STONE WATERTABLE 2015180 03.11.2016 EAST ELEVATION SCALE : 1/16" = 1'-0" WEST ELEVATION SCALE : 1/16" = 1'-0" ENTRADA GAS PAD SITE | PARKING GARAGE ELEVATIONS Ordinance 778 Ordinance 778 9 Appendix C-1 Assessment Roll – Part B v2.1 Parcel All Assessment Part B $2,425,000 Total Equivalent Units 324.63 Administrative Expenses2 2018 $155,928 $30,000 $185,928 2019 $195,928 $30,600 $226,528 2020 $193,356 $31,212 $224,568 2021 $190,784 $31,836 $222,620 2022 $193,212 $32,473 $225,684 2023 $182,323 $33,122 $215,445 2024 $179,396 $33,785 $213,180 2025 $181,468 $34,461 $215,929 2026 $178,248 $35,150 $213,398 2027 $180,028 $35,853 $215,880 2028 $181,515 $36,570 $218,084 2029 $182,709 $37,301 $220,010 2030 $178,610 $38,047 $216,658 2031 $179,512 $38,808 $218,320 2032 $180,121 $39,584 $219,705 2033 $180,437 $40,376 $220,813 2034 $180,460 $41,184 $221,643 2035 $180,190 $42,007 $222,197 2036 $184,628 $42,847 $227,475 2037 $183,480 $43,704 $227,185 2038 $182,040 $44,578 $226,618 2039 $180,307 $45,470 $225,776 2040 $183,281 $46,379 $229,660 2041 $185,669 $47,307 $232,976 2042 $182,472 $48,253 $230,725 2043 $183,982 $49,218 $233,200 2044 $184,907 $50,203 $235,110 2045 $185,246 $51,207 $236,453 2046 $0 $0 $0 2047 $0 $0 $0 2048 $0 $0 $0 2049 $0 $0 $0 2050 $0 $0 $0 2051 $0 $0 $0 Total $5,110,231 $1,111,536 $6,221,767 (1) The principal and interest on the Reimbursement Agreement - Part B are calculated using 6.43% per annual for years 1 through 5 and 5.855% per annum thereafter. (2) The Administrative Expense amounts are estimated and will be updated each year as part of the Annual Service Plan Update. Assessment Roll - Part B Improvement Area #1 Year Principal and Interest 1 Annual Installment Part B C- 1 - 1 v2.1 Parcel 42229845 Assessment Part B $41,444 Total Equivalent Units 5.55 Administrative Expenses2 2018 $2,665 $513 $3,178 2019 $3,348 $523 $3,871 2020 $3,304 $533 $3,838 2021 $3,261 $544 $3,805 2022 $3,302 $555 $3,857 2023 $3,116 $566 $3,682 2024 $3,066 $577 $3,643 2025 $3,101 $589 $3,690 2026 $3,046 $601 $3,647 2027 $3,077 $613 $3,690 2028 $3,102 $625 $3,727 2029 $3,123 $637 $3,760 2030 $3,052 $650 $3,703 2031 $3,068 $663 $3,731 2032 $3,078 $677 $3,755 2033 $3,084 $690 $3,774 2034 $3,084 $704 $3,788 2035 $3,079 $718 $3,798 2036 $3,155 $732 $3,888 2037 $3,136 $747 $3,883 2038 $3,111 $762 $3,873 2039 $3,081 $777 $3,859 2040 $3,132 $793 $3,925 2041 $3,173 $808 $3,982 2042 $3,118 $825 $3,944 2043 $3,144 $841 $3,986 2044 $3,160 $858 $4,019 2045 $3,166 $875 $4,041 2046 $0 $0 $0 2047 $0 $0 $0 2048 $0 $0 $1 2049 $0 $0 $0 2050 $0 $0 $0 2051 $0 $0 $0 Total $87,335 $18,996 $106,339 (1) The principal and interest on the Reimbursement Agreement - Part B are calculated using 6.43% per annual for years 1 through 5 and 5.855% per annum thereafter. (2) The Administrative Expense amounts are estimated and will be updated each year as part of the Annual Service Plan Update. Assessment Roll - Part B Improvement Area #1 Year Principal and Interest 1 Annual Installment Part B C- 1 - 2 v2.1 Parcel 42229993 Assessment Part B $52,290 Total Equivalent Units 7.00 Administrative Expenses2 2018 $3,362 $647 $4,009 2019 $4,225 $660 $4,885 2020 $4,169 $673 $4,842 2021 $4,114 $686 $4,800 2022 $4,166 $700 $4,867 2023 $3,931 $714 $4,646 2024 $3,868 $729 $4,597 2025 $3,913 $743 $4,656 2026 $3,844 $758 $4,602 2027 $3,882 $773 $4,655 2028 $3,914 $789 $4,703 2029 $3,940 $804 $4,744 2030 $3,851 $820 $4,672 2031 $3,871 $837 $4,708 2032 $3,884 $854 $4,738 2033 $3,891 $871 $4,762 2034 $3,891 $888 $4,780 2035 $3,885 $906 $4,792 2036 $3,981 $924 $4,905 2037 $3,956 $942 $4,899 2038 $3,925 $961 $4,887 2039 $3,888 $980 $4,869 2040 $3,952 $1,000 $4,953 2041 $4,004 $1,020 $5,024 2042 $3,935 $1,040 $4,976 2043 $3,967 $1,061 $5,029 2044 $3,987 $1,083 $5,070 2045 $3,994 $1,104 $5,099 2046 $0 $0 $1 2047 $0 $0 $1 2048 $0 $0 $1 2049 $0 $0 $0 2050 $0 $0 $0 2051 $0 $0 $0 Total $110,192 $23,968 $134,170 (1) The principal and interest on the Reimbursement Agreement - Part B are calculated using 6.43% per annual for years 1 through 5 and 5.855% per annum thereafter. (2) The Administrative Expense amounts are estimated and will be updated each year as part of the Annual Service Plan Update. Assessment Roll - Part B Improvement Area #1 Year Principal and Interest 1 Annual Installment Part B C- 1 - 3 v2.1 Parcel 42230002 Assessment Part B $5,686 Total Equivalent Units 0.76 Administrative Expenses2 2018 $366 $70 $436 2019 $459 $72 $531 2020 $453 $73 $527 2021 $447 $75 $522 2022 $453 $76 $529 2023 $428 $78 $505 2024 $421 $79 $500 2025 $426 $81 $506 2026 $418 $82 $500 2027 $422 $84 $506 2028 $426 $86 $511 2029 $428 $87 $516 2030 $419 $89 $508 2031 $421 $91 $512 2032 $422 $93 $515 2033 $423 $95 $518 2034 $423 $97 $520 2035 $423 $98 $521 2036 $433 $100 $533 2037 $430 $102 $533 2038 $427 $105 $531 2039 $423 $107 $529 2040 $430 $109 $539 2041 $435 $111 $546 2042 $428 $113 $541 2043 $431 $115 $547 2044 $434 $118 $551 2045 $434 $120 $555 2046 $0 $0 $0 2047 $0 $0 $0 2048 $0 $0 $0 2049 $0 $0 $0 2050 $0 $0 $0 2051 $0 $0 $0 Total $11,983 $2,606 $14,590 (1) The principal and interest on the Reimbursement Agreement - Part B are calculated using 6.43% per annual for years 1 through 5 and 5.855% per annum thereafter. (2) The Administrative Expense amounts are estimated and will be updated each year as part of the Annual Service Plan Update. Assessment Roll - Part B Improvement Area #1 Year Principal and Interest 1 Annual Installment Part B C- 1 - 4 v2.1 Parcel 42230011 Assessment Part B $24,273 Total Equivalent Units 3.25 Administrative Expenses2 2018 $1,561 $300 $1,861 2019 $1,961 $306 $2,267 2020 $1,935 $312 $2,248 2021 $1,910 $319 $2,228 2022 $1,934 $325 $2,259 2023 $1,825 $332 $2,157 2024 $1,796 $338 $2,134 2025 $1,816 $345 $2,161 2026 $1,784 $352 $2,136 2027 $1,802 $359 $2,161 2028 $1,817 $366 $2,183 2029 $1,829 $373 $2,202 2030 $1,788 $381 $2,169 2031 $1,797 $388 $2,185 2032 $1,803 $396 $2,199 2033 $1,806 $404 $2,210 2034 $1,806 $412 $2,219 2035 $1,804 $420 $2,224 2036 $1,848 $429 $2,277 2037 $1,837 $437 $2,274 2038 $1,822 $446 $2,269 2039 $1,805 $455 $2,260 2040 $1,835 $464 $2,299 2041 $1,858 $474 $2,332 2042 $1,826 $483 $2,310 2043 $1,842 $493 $2,334 2044 $1,851 $503 $2,354 2045 $1,854 $513 $2,367 2046 $0 $0 $0 2047 $0 $0 $0 2048 $0 $0 $0 2049 $0 $0 $0 2050 $0 $0 $0 2051 $0 $0 $0 Total $51,151 $11,126 $62,282 (1) The principal and interest on the Reimbursement Agreement - Part B are calculated using 6.43% per annual for years 1 through 5 and 5.855% per annum thereafter. (2) The Administrative Expense amounts are estimated and will be updated each year as part of the Annual Service Plan Update. Assessment Roll - Part B Improvement Area #1 Year Principal and Interest 1 Annual Installment Part B C- 1 - 5 v2.1 Parcel 42230029 Assessment Part B $4,631 Total Equivalent Units 0.62 Administrative Expenses2 2018 $298 $57 $355 2019 $374 $58 $433 2020 $369 $60 $429 2021 $364 $61 $425 2022 $369 $62 $431 2023 $348 $63 $411 2024 $343 $65 $407 2025 $347 $66 $412 2026 $340 $67 $408 2027 $344 $68 $412 2028 $347 $70 $417 2029 $349 $71 $420 2030 $341 $73 $414 2031 $343 $74 $417 2032 $344 $76 $420 2033 $345 $77 $422 2034 $345 $79 $423 2035 $344 $80 $424 2036 $353 $82 $434 2037 $350 $83 $434 2038 $348 $85 $433 2039 $344 $87 $431 2040 $350 $89 $439 2041 $355 $90 $445 2042 $348 $92 $441 2043 $351 $94 $445 2044 $353 $96 $449 2045 $354 $98 $452 2046 $0 $0 $0 2047 $0 $0 $0 2048 $0 $0 $0 2049 $0 $0 $0 2050 $0 $0 $0 2051 $0 $0 $0 Total $9,760 $2,123 $11,884 (1) The principal and interest on the Reimbursement Agreement - Part B are calculated using 6.43% per annual for years 1 through 5 and 5.855% per annum thereafter. (2) The Administrative Expense amounts are estimated and will be updated each year as part of the Annual Service Plan Update. Assessment Roll - Part B Improvement Area #1 Year Principal and Interest 1 Annual Installment Part B C- 1 - 6 v2.1 Parcel 42230037 Assessment Part B $3,436 Total Equivalent Units 0.46 Administrative Expenses2 2018 $221 $43 $263 2019 $278 $43 $321 2020 $274 $44 $318 2021 $270 $45 $315 2022 $274 $46 $320 2023 $258 $47 $305 2024 $254 $48 $302 2025 $257 $49 $306 2026 $253 $50 $302 2027 $255 $51 $306 2028 $257 $52 $309 2029 $259 $53 $312 2030 $253 $54 $307 2031 $254 $55 $309 2032 $255 $56 $311 2033 $256 $57 $313 2034 $256 $58 $314 2035 $255 $60 $315 2036 $262 $61 $322 2037 $260 $62 $322 2038 $258 $63 $321 2039 $255 $64 $320 2040 $260 $66 $325 2041 $263 $67 $330 2042 $259 $68 $327 2043 $261 $70 $330 2044 $262 $71 $333 2045 $262 $73 $335 2046 $0 $0 $0 2047 $0 $0 $0 2048 $0 $0 $0 2049 $0 $0 $0 2050 $0 $0 $0 2051 $0 $0 $0 Total $7,241 $1,575 $8,817 (1) The principal and interest on the Reimbursement Agreement - Part B are calculated using 6.43% per annual for years 1 through 5 and 5.855% per annum thereafter. (2) The Administrative Expense amounts are estimated and will be updated each year as part of the Annual Service Plan Update. Assessment Roll - Part B Improvement Area #1 Year Principal and Interest 1 Annual Installment Part B C- 1 - 7 v2.1 Parcel 42229977 Assessment Part B $19,885 Total Equivalent Units 2.66 Administrative Expenses2 2018 $1,279 $246 $1,525 2019 $1,607 $251 $1,858 2020 $1,586 $256 $1,841 2021 $1,564 $261 $1,826 2022 $1,584 $266 $1,851 2023 $1,495 $272 $1,767 2024 $1,471 $277 $1,748 2025 $1,488 $283 $1,771 2026 $1,462 $288 $1,750 2027 $1,476 $294 $1,770 2028 $1,488 $300 $1,788 2029 $1,498 $306 $1,804 2030 $1,465 $312 $1,777 2031 $1,472 $318 $1,790 2032 $1,477 $325 $1,802 2033 $1,480 $331 $1,811 2034 $1,480 $338 $1,818 2035 $1,478 $344 $1,822 2036 $1,514 $351 $1,865 2037 $1,505 $358 $1,863 2038 $1,493 $366 $1,858 2039 $1,479 $373 $1,852 2040 $1,503 $380 $1,883 2041 $1,523 $388 $1,911 2042 $1,496 $396 $1,892 2043 $1,509 $404 $1,912 2044 $1,516 $412 $1,928 2045 $1,519 $420 $1,939 2046 $0 $0 $0 2047 $0 $0 $0 2048 $0 $0 $0 2049 $0 $0 $0 2050 $0 $0 $0 2051 $0 $0 $0 Total $41,904 $9,115 $51,023 (1) The principal and interest on the Reimbursement Agreement - Part B are calculated using 6.43% per annual for years 1 through 5 and 5.855% per annum thereafter. (2) The Administrative Expense amounts are estimated and will be updated each year as part of the Annual Service Plan Update. Assessment Roll - Part B Improvement Area #1 Year Principal and Interest 1 Annual Installment Part B C- 1 - 8 v2.1 Parcel 42229985 Assessment Part B $5,916 Total Equivalent Units 0.79 Administrative Expenses2 2018 $380 $73 $454 2019 $478 $75 $553 2020 $472 $76 $548 2021 $465 $78 $543 2022 $471 $79 $551 2023 $445 $81 $526 2024 $438 $82 $520 2025 $443 $84 $527 2026 $435 $86 $521 2027 $439 $87 $527 2028 $443 $89 $532 2029 $446 $91 $537 2030 $436 $93 $529 2031 $438 $95 $533 2032 $439 $97 $536 2033 $440 $99 $539 2034 $440 $100 $541 2035 $440 $102 $542 2036 $450 $105 $555 2037 $448 $107 $554 2038 $444 $109 $553 2039 $440 $111 $551 2040 $447 $113 $560 2041 $453 $115 $568 2042 $445 $118 $563 2043 $449 $120 $569 2044 $451 $122 $574 2045 $452 $125 $577 2046 $0 $0 $0 2047 $0 $0 $0 2048 $0 $0 $0 2049 $0 $0 $0 2050 $0 $0 $0 2051 $0 $0 $0 Total $12,467 $2,712 $15,180 (1) The principal and interest on the Reimbursement Agreement - Part B are calculated using 6.43% per annual for years 1 through 5 and 5.855% per annum thereafter. (2) The Administrative Expense amounts are estimated and will be updated each year as part of the Annual Service Plan Update. Assessment Roll - Part B Improvement Area #1 Year Principal and Interest 1 Annual Installment Part B C- 1 - 9 v2.1 Parcel 42229853 Assessment Part B $2,267,438 Total Equivalent Units 303.54 Administrative Expenses2 2018 $145,796 $28,051 $173,847 2019 $183,197 $28,612 $211,810 2020 $180,792 $29,184 $209,978 2021 $178,388 $29,768 $208,158 2022 $180,658 $30,363 $211,025 2023 $170,477 $30,970 $201,452 2024 $167,739 $31,590 $199,335 2025 $169,677 $32,222 $201,905 2026 $166,666 $32,866 $199,540 2027 $168,330 $33,523 $201,862 2028 $169,721 $34,194 $203,924 2029 $170,837 $34,878 $205,725 2030 $167,005 $35,575 $202,592 2031 $167,848 $36,287 $204,147 2032 $168,417 $37,012 $205,443 2033 $168,713 $37,753 $206,479 2034 $168,735 $38,508 $207,257 2035 $168,483 $39,278 $207,776 2036 $172,632 $40,063 $212,712 2037 $171,559 $40,865 $212,441 2038 $170,212 $41,682 $211,913 2039 $168,591 $42,516 $211,127 2040 $171,372 $43,366 $214,759 2041 $173,605 $44,233 $217,860 2042 $170,616 $45,118 $215,756 2043 $172,028 $46,020 $218,072 2044 $172,893 $46,941 $219,858 2045 $173,210 $47,879 $221,115 2046 $0 $0 $26 2047 $0 $0 $27 2048 $0 $0 $28 2049 $0 $0 $0 2050 $0 $0 $0 2051 $0 $0 $0 Total $4,778,198 $1,039,315 $5,817,949 (1) The principal and interest on the Reimbursement Agreement - Part B are calculated using 6.43% per annual for years 1 through 5 and 5.855% per annum thereafter. (2) The Administrative Expense amounts are estimated and will be updated each year as part of the Annual Service Plan Update. Assessment Roll - Part B Improvement Area #1 Year Principal and Interest 1 Annual Installment Part B C- 1 - 10 10 Appendix D-1 Summary fo Land Use and Equivalent Units by Parcel and POD Improvement Area #1 12 Appendix A-3 Summary of Land Use and Equivalent Units by Parcels and POD Improvement Area #1 New Parcel ID POD No. (1) Proposed Use Units/ Sq. Ft. Land Use Class EU Factor Total EU 42229845 1 Commercial - Retail 2,200 10 0.22 0.48 29 Commercial - Retail 1,200 10 0.22 0.26 30 Commercial - Office 24,000 11 0.20 4.80 subtotal 5.55 42229993 25 Commercial - Retail 7,000 10 0.22 1.54 Condo (2,500 sq. ft. to 3,600 sq. ft.) 3 2 0.62 1.86 Condo (Under 2,500 sq. ft.) 6 3 0.60 3.6 subtotal 7.00 42230002 26 Commercial - Retail 3,460 10 0.22 0.76 42230011 27 Commercial - Retail 14,770 10 0.22 3.25 42230029 27 Commercial - Office 3,100 11 0.20 0.62 42230037 27 Commercial - Office 2,300 11 0.20 0.46 42229977 28 Commercial - Retail 12,100 10 0.22 2.66 42229985 28 Commercial - Retail 3,600 10 0.22 0.79 42229853 2 Commercial - Office 117,000 11 0.20 23.40 3 Commercial - Retail 56,740 10 0.22 12.48 4 Commercial - Retail 47,200 10 0.22 10.38 5 Commercial - Office 44,700 11 0.20 8.94 6 Commercial - Office 14,000 11 0.20 2.80 7 Public 0 0 0.00 0 8 Commercial - Retail 51,530 10 0.22 11.34 9 Commercial - Retail 20,200 10 0.22 4.44 10 Commercial - Hospitality 61,500 12 0.21 12.92 11 Public 0 0 0.00 0 12 Commercial - Retail 5,800 10 0.22 1.28 13 Commercial - Retail 29,800 10 0.22 6.56 14 Commercial - Retail 21,900 10 0.22 4.82 15 Commercial - Retail 5,000 10 0.22 1.10 Condo (More than 3,600 sq. ft.) 6 1 1.00 6.00 Condo (2,500 sq. ft. to 3,600 sq. ft.) 6 2 0.62 3.72 16 Commercial - Institutional 33,000 13 0.19 6.27 17 Commercial - Office 22,000 11 0.20 4.40 18 Commercial - Retail 37,800 10 0.22 8.32 Condo (More than 3,600 sq. ft.) 20 1 1.00 20.00 Condo (2,500 sq. ft. to 3,600 sq. ft.) 39 2 0.62 24.18 19 Commercial - Retail 46,800 10 0.22 10.30 Condo (More than 3,600 sq. ft.) 6 1 1.00 6.00 Condo (2,500 sq. ft. to 3,600 sq. ft.) 8 2 0.62 4.96 20 Commercial - Hospitality 97,000 12 0.21 20.37 21 Commercial - Hospitality 97,000 12 0.21 20.37 22 Commercial - Retail 5,000 10 0.22 1.10 Condo (More than 3,600 sq. ft.) 6 1 1.00 6.00 Condo (2,500 sq. ft. to 3,600 sq. ft.) 15 2 0.62 9.30 23 Commercial - Institutional 231,600 13 0.19 44.00 24 Commercial - Office 3,000 11 0.20 0.60 31 Commercial - Office 36,000 11 0.20 7.20 Subtotal 303.54 Grand Total - Improvement Area #1 324.63 Note: The proposed uses for each Parcel and pod are provided by the Developer.