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Ord 890 Updating the Solana Public Improvement District regarding the Entrada Development TOWN OF WESTLAKE ORDINANCE NO. 890 SOLANA PUBLIC IMPROVEMENT DISTRICT SUPPLEMENTAL SERVICE AND ASSESSMENT PLAN AND ASSESSMENT ROLL. A SUPPLEMENTAL ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF WESTLAKE UPDATING THE SOLANA PUBLIC IMPROVEMENT DISTRICT OF THE TOWN OF WESTLAKE SERVICE AND ASSESSMENT PLAN AND ASSESSMENT ROLL. WHEREAS, by Resolution 14-07 adopted on February 24, 2014, after notice and a public hearing in the manner required by law, the Town Council of the Town of Westlake, Texas approved a resolution authorizing the creation of the Solana Public Improvement District of the Town of Westlake; and WHEREAS, the Town Council, pursuant to Section 372.016(b) of the Public Improvement District Assessment Act, Chapter 372, Texas Local Government Code (the "PID Act") PID Act, published notice of the Levy and Assessment Hearing on December 22, 2014, in The Star-Telegram, a newspaper of general circulation in the Town; and WHEREAS, on January 15, 2015, after notice and a public hearing conducted in the manner required by law, the Town Council adopted Ordinance No. 741 approving the Solana Public Improvement District Service and Assessment Plan and Assessment Roll and the levy of assessments on property in the District; and WHEREAS, on January 15, 2015, the Town Council convened the Levy and Assessment Hearing and adopted Ordinance No. 743, authorizing the issuance of bonds secured by the assessments levied pursuant to the Assessment Ordinance; and WHEREAS, on January 28, 2018, after notice and a public hearing conducted in the manner required by law, the Town Council adopted Ordinance No. 843 approving the Solana Public Improvement District Service and Assessment Plan and Assessment Roll and the levy of the Part—B Assessment pertaining to the Parking Garage on property in the District; and WHEREAS, on August 27, 2018, Town Council approved Ordinance 861 that updated the SAP; and WHEREAS, the Service and Assessment Plan and Assessment Roll is required to be reviewed and updated annually as described in Sections 372.013 and 372.014 of the PID Act; and WHEREAS, the Town Council now desires to proceed with the adoption of this Ordinance for the Annual Service Plan Update and the updated Assessment Roll attached thereto, in conformity with the requirements of the PID Act; and WHEREAS, the Town Council finds the passage of this Ordinance to be in the best interest for the citizens of Westlake. Ordinance 890 Page 1 of 2 NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF WESTLAKE, TEXAS: SECTION 1: That all matters stated in the preamble are found to be true and correct and are incorporated herein as if copied in their entirety. SECTION 2: That the Solana Annual Service Plan Update and updated Assessment Roll attached hereto as Exhibit A are hereby accepted as provided. SECTION 3: If any portion of this Ordinance shall, for any reason, be declared invalid by any court of competent jurisdiction, such invalidity shall not affect the remaining provisions hereof and the Council hereby determines that it would have adopted this Ordinance without the invalid provision. SECTION 4: That this Ordinance shall be cumulative of all other Town Ordinances and all other provisions of other Ordinances adopted by the Town which are inconsistent with the terms or provisions of this Ordinance are hereby repealed. SECTION 5: It is hereby declared to be the intention of the Town Council of the Town of Westlake, Texas, that sections, paragraphs, clauses and phrases of this Ordinance are severable, and if any phrase, clause, sentence, paragraph or section of this Ordinance shall be declared legally invalid or unconstitutional by the valid judgment or decree of any court of competent jurisdiction, such legal invalidity or unconstitutionality shall not affect any of the remaining phrases, clauses, sentences, paragraphs or sections of this Ordinance since the same would have been enacted by the Town Council of the Town of Westlake without the incorporation in this Ordinance of any such legally invalid or unconstitutional, phrase, sentence, paragraph or section. SECTION 6: This ordinance shall take effect immediately from and after its passage as the law in such case provides. PASSED AND APPROVED ON THIS 26TH DAY OF AUGUST,2019. %CeA, ATTEST: Laura Wheat, Mayor t :( 444/0€4a1-- 4e-eL Kelly Edwaas, Town Secretary Amanda DeGan, Town Manager APPROVED AS TO FORM: f. L. Stanton Lowry, Town Attorney Ordinance 890 Page 2 of 2 TOWN OF WESTLAKE, TEXAS SOLANA PUBLIC IMPROVEMENT DISTRICT 2019 ANNUAL SERVICE PLAN UPDATE AUGUST 26, 2019 Ordinance 890 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 1 Ordinance 890 INTRODUCTION Capitalized terms used in this Annual Service Plan Update shall have the meanings set forth in the original Service and Assessment Plan or the Development, Financing, and Reimbursement Agreements, as applicable. The Town Council passed Resolution No. 14-07 approving and authorizing the creation of the PID on February 24, 2014, to finance the costs of certain public improvements for the benefit of property in the PID. On April 22, 2013, the property within the PID was zoned by Ordinance No. 703. The Zoning Ordinance designates the type of land uses that are permitted within the project and includes development standards for each land use type. The Town of Westlake, Texas Special Assessment Revenue Bonds, Series 2015 (Solana Public Improvement District Project, 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 –Part A in the aggregate principal amount of $3,400,000 are secured by Assessments. Pursuant to the Service and Assessment Plan, the effective interest rate on the Series 2015 Bonds is 6.15 percent. The interest rate on the Reimbursement Agreement – Part A is 6.43 percent per annum, per the Reimbursement Agreement – Part A adopted with Ordinance No. 742. On December 11, 2017, the Town Council passed Ordinance No. 843 approving an annual service plan update and Assessment Roll for Assessment Part B for the Reimbursement Agreement – Part B in the aggregate principal amount of $2,425,000 secured by Assessments. Each Assessment Part B shall be paid with interest based on an interest rate of 6.43 percent per annum from September 1, 2018 through January 28, 2023, and 5.855% per annum from January 29, 2023 through the Maturity Date as defined in the Reimbursement Agreement – Part B, per the Reimbursement Agreement – Part B adopted with Resolution No. 18-06. The Service and Assessment Plan identifies the Authorized Improvements to be provided by the PID, the Authorized Improvement Costs, 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 the PID Act, the Service and Assessment Plan must be reviewed and updated annually. This document is the annual update of the Service and Assessment Plan for 2019, which includes both Assessment Part A and Assessment Part B. The Town Council also adopted an Assessment Roll identifying the Assessments on each Lot within the PID, based on the method of assessment identified in the Service and Assessment Plan. This Annual Service Plan Update also updates the Assessment Roll for 2019. TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 2 Ordinance 890 LISTED EVENTS There have been two event notices for the Developer in the previous year. Below is a list of all Listed Event Disclosures:  The following are Listed Events according to the Continuing Disclosure Agreement, Section 4, Event Reporting Obligations of the Developer, (vii) The filing of any lawsuit with claim for damage, in excess of $1,000,000 against the Developer or any affiliate of the Developer which may adversely affect the completion of development or litigation which would materially adversely affect the financial condition of the Developer or any affiliate of the Developer.  FZ WLRW, LLC has filed suit in Tarrant County, Cause#: 342-302221-18 in the 342nd Judicial District against MRW Investors, LLC.  On June 18, 2019, Megatel Homes, LLC, Megatel Homes II, LLC and Megatel Homes III, LLC (collectively, the “Megatel Homes Parties”) filed a lawsuit in Dallas County Texas District Court against various funds and entities associated with and controlled by UDF, various affiliates of CADG owned and controlled by Mehrdad Moayedi (the “Centurion Megatel Defendants”), and various affiliates of Buffington Land Group, Ltd. (the “Buffington Megatel Defendants”). STATUS OF AUTHORIZED IMPROVEMENTS Improvement Project A According to the 2019 Quarter 2 Developer Continuing Disclosure, Authorized Improvements for Improvement Area #1 and Improvement Area #2 are significantly complete, with remaining items being the completion of TRA Sanitary Sewer Metering Station, the pedestrian bridge and installation of iron benches. The pedestrian bridge and Metering Station have been delayed due to weather. The Metering Station was delayed because a new access road configuration had to be created. The Developer expects both to be complete in Q3 of 2019. TCMUD has continued to delay restarting the construction work on the metering station. Iron Benches are awaiting input and direction from the Town. Improvement Area #3 Authorized Improvements only have the retaining walls constructed. Improvement Area #3 Authorized Improvements are forecasted to be completed in Quarter 4 of 2020. Improvement Project B According to the 2019 Quarter 2 Developer Continuing Disclosure, engineering design, site plan approval, and building permit approval are complete, and construction has begun, funded by the Reimbursement Agreement – Part B. TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 3 Ordinance 890 PARCEL SUBDIVISION A replat of WESTLAKE ENTRADA, LOTS 1XR, 2XR, 3-14, 15XR, 16X, & 17X, BLOCK I was filed and recorded on August 28, 2018. See Exhibit B for plats approved in 2018. Plats approved in 2018 will be reflected in this Annual Service Plan Update. Plats approved in 2019 will be reflected in the 2020 annual service plan update. LOT SALES & HOME SALES UPDATE Residential Of the expected 322 residential units in the Service and Assessment Plan, 5 residential units have completed construction. According to the 2019 Quarter 2 Developer Continuing Disclosure, a total of 32 homes are under construction. Calais Homes is currently constructing 6 homes with an estimated completion date of August 2019; Vespa Homes is constructing 12 homes with an estimated completion date of October 2019; and Crescent Homes through MRW Investors, LLC is constructing 14 homes with the first homes completed in June 2019. Commercial According to the 2019 Issuer Continuing Disclosure, of the expected 1,158,299 square feet of commercial space described in the Service and Assessment Plan, 29,175 square feet of commercial development has been constructed, including a CVS, Primrose Daycare Center, and the Entrada Sales Office. Permits for construction have been issued on a total of 10 units, for a total permitted commercial square footage of 309,733. OUTSTANDING ASSESSMENT Improvement Area #1 Improvement Area #1 has a total outstanding Assessment of $20,785,272.59, as shown in the chart below. Improvement Area #2 Assessment Part B Total Series 2015 Bond Reimbursement Agreement - Part A Reimbursement Agreement - Part B Total Outstanding Assessment Series 2015 Bond 16,215,603.25$ -$ -$ 16,215,603.25$ Reimbursement Agreement - Part A - 2,184,669.33 - 2,184,669.33 Reimbursement Agreement - Part B - - 2,385,000.00 2,385,000.00 16,215,603.25$ 2,184,669.33$ 2,385,000.00$ 20,785,272.59$ Improvement Area #1 Assessment Part A TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 4 Ordinance 890 Improvement Area #2 has a total outstanding Assessment of $5,420,377.64, as shown in the chart below. Improvement Area #3 Improvement Area #3 has a total outstanding Assessment of $4,689,349.77, as shown in the chart below. The debt service schedules for the Series 2015 Bonds, Reimbursement Agreement – Part A, and Reimbursement Agreement – Part B are attached hereto as Exhibit E, Exhibit F, and Exhibit G, respectively. ANNUAL INSTALLMENT DUE 1/31/2020 Improvement Area #1 • Principal and Interest - The total principal and interest required for the Annual Installment for Improvement Area #1 is $1,601,147.71. • Prepayment Reserve - The Prepayment Reserve Requirement, as defined in the Indenture, is equal to 1.5% of the principal amount of the then Outstanding Bonds and has not yet been met. As such, the Prepayment Reserve will be funded with 40% of the additional 0.5% interest on the Series 2015 Bonds outstanding Assessment, resulting in a Prepayment Reserve amount due for Improvement Area #1 of $32,431.21. • Delinquency Reserve - The Delinquency Reserve Requirement, as defined in the Indenture, is equal to 4% of the principal amount of the then Outstanding Bonds and has not yet been met. As such, the Delinquency Reserve will be funded with 60% of the Assessment Part B Total Series 2015 Bond Reimbursement Agreement - Part A Reimbursement Agreement - Part B Total Outstanding Assessment Series 2015 Bond 4,776,814.74$ -$ -$ 4,776,814.74$ Reimbursement Agreement - Part A - 643,562.90 - 643,562.90 Reimbursement Agreement - Part B - - - - 4,776,814.74$ 643,562.90$ -$ 5,420,377.64$ Assessment Part A Improvement Area #2 Assessment Part B Total Series 2015 Bond Reimbursement Agreement - Part A Reimbursement Agreement - Part B Total Outstanding Assessment Series 2015 Bond 4,132,582.01$ -$ -$ 4,132,582.01$ Reimbursement Agreement - Part A - 556,767.76 - 556,767.76 Reimbursement Agreement - Part B - - - - 4,132,582.01$ 556,767.76$ -$ 4,689,349.77$ Assessment Part A Improvement Area #3 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 5 Ordinance 890 additional 0.5% interest on the Series 2015 Bonds outstanding Assessment, resulting in a Delinquency Reserve amount due for Improvement Area #1 of $48,646.81. • Administrative Expenses - The cost of administering the PID and collecting the Annual Installments shall be paid for on a pro rata basis by each Parcel based on the amount of outstanding Assessment remaining on the Parcel. The total Administration Expenses budgeted for the Annual Installment for Improvement Area #1 is $44,764.75. Improvement Area #2 • Principal and Interest - The total principal and interest required for the Annual Installment for Improvement Area #2 is $414,709.37. • Prepayment Reserve - The Prepayment Reserve Requirement, as defined in the Indenture, is equal to 1.5% of the principal amount of the then Outstanding Bonds and has not yet been met. As such, the Prepayment Reserve will be funded with 40% of the additional 0.5% interest on the Series 2015 Bonds outstanding Assessment, resulting in a Prepayment Reserve amount due for Improvement Area #2 of $9,553.63. • Delinquency Reserve – The Delinquency Reserve Requirement, as defined in the Indenture, is equal to 4% of the principal amount of the then Outstanding Bonds and has not yet been met. As such, the Delinquency Reserve will be funded with 60% of the additional 0.5% interest on the Series 2015 Bonds outstanding Assessment, resulting in a Delinquency Reserve amount due for Improvement Area #2 of $14,330.44. • Administrative Expenses - The cost of administering the PID and collecting the Annual Installments shall be paid for on a pro rata basis by each Parcel based on the amount of outstanding Assessment remaining on the Parcel. The total Administration Expenses budgeted for the Annual Installment for Improvement Area #2 is $13,186.86. Assessment Part B Total Series 2015 Bond Reimbursement Agreement - Part A Reimbursement Agreement - Part B Total Annual Installment Due 1/31/2020 Principal 258,158.86$ 8,390.16$ 40,000.00$ 306,549.02$ Interest 1,000,768.95 140,474.24 153,355.50 1,294,598.69 Delinquency & Prepayment Reserve 81,078.02 - - 81,078.02 Administrative Expenses 44,764.75 - - 44,764.75 1,384,770.57$ 148,864.40$ 193,355.50$ 1,726,990.47$ Notes: Improvement Area #1 Assuming no outstanding delinquencies at the time of this Annual Service Plan Update. If any prior year installment was not paid in full the outstanding assessment will be increased accordingly. Assessment Part A TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 6 Ordinance 890 Improvement Area #3 • Principal and Interest - The total principal and interest required for the Annual Installment for Improvement Area #3 is $358,778.93. • Prepayment Reserve - The Prepayment Reserve Requirement, as defined in the Indenture, is equal to 1.5% of the principal amount of the then Outstanding Bonds and has not yet been met. As such, the Prepayment Reserve will be funded with 40% of the additional 0.5% interest on the Series 2015 Bonds outstanding Assessment, resulting in a Prepayment Reserve amount due for Improvement Area #3 of $8,265.16. • Delinquency Reserve - The Delinquency Reserve Requirement, as defined in the Indenture, is equal to 4% of the principal amount of the then Outstanding Bonds and has not yet been met. As such, the Delinquency Reserve will be funded with 60% of the additional 0.5% interest on the Series 2015 Bonds outstanding Assessment, resulting in a Delinquency Reserve amount due for Improvement Area #3 of $12,397.75. • Administrative Expenses - The cost of administering the PID and collecting the Annual Installments shall be paid for on a pro rata basis by each Parcel based on the amount of outstanding Assessment remaining on the Parcel. The total Administration Expenses budgeted for the Annual Installment for Improvement Area #3 is $11,408.39. PREPAYMENT OF ASSESSMENTS IN FULL No prepayments in full have occurred within the PID. Assessment Part B Total Series 2015 Bond Reimbursement Agreement - Part A Reimbursement Agreement - Part B Total Annual Installment Due 1/31/2020 Principal 76,048.79$ 2,471.59$ -$ 78,520.38$ Interest 294,807.89 41,381.09 - 336,188.99 Delinquency & Prepayment Reserve 23,884.07 - - 23,884.07 Administrative Expenses 13,186.86 - - 13,186.86 407,927.62$ 43,852.68$ -$ 451,780.30$ Improvement Area #2 Assessment Part A Assessment Part B Total Series 2015 Bond Reimbursement Agreement - Part A Reimbursement Agreement - Part B Total Annual Installment Due 1/31/2020 Principal 65,792.35$ 2,138.25$ -$ 67,930.60$ Interest 255,048.16 35,800.17 - 290,848.33 Delinquency & Prepayment Reserve 20,662.91 - - 20,662.91 Administrative Expenses 11,408.39 - - 11,408.39 352,911.81$ 37,938.42$ -$ 390,850.23$ Notes: Assuming no outstanding delinquencies at the time of this Annual Service Plan Update. If any prior years Annual Installment was not paid in full the outstanding Assessment will be increased accordingly. Assessment Part A Improvement Area #3 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 7 Ordinance 890 ELECTIVE PARTIAL PREPAYMENTS OF ASSESSMENTS No partial prepayments have occurred within the PID. BOND FUND P3Works has reviewed the following bond accounts related to the PID as of June 30, 2019, and each account contains the amount shown below: Improvement Project A Bond Account 6/30/2019 Balance Pledged Revenue Fund Bond Pledged Revenue Account $1,429,231.98 Developer Reimbursement Pledged Revenue Account $618,657.23 Bond Fund Capitalized Interest Account $0.00 Principal and Interest Account $209.00 Project Fund Improvement Project A Improvement Account $108,199.15 Developer Improvement Account $0.00 Reserve Fund Reserve Account $2,148,511.91 Prepayment Reserve Account $130,533.90 Delinquency Reserve Account $195,800.84 Redemption Fund $0.00 Rebate Fund $0.00 Administrative Fund $90,687.62 Reimbursement Fund $0.00 Developer Property Tax Reserve Fund $110.60 Improvement Project B Account 6/30/2019 Balance Reimbursement Agreement – Part B Fund $0.00 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 8 Ordinance 890 FIVE YEAR BUDGET FORECAST The PID Act requires the annual indebtedness and projected costs for the improvements to be reviewed and updated in the Annual Service Plan Update, and the projection shall cover a period of not less than five years. Installments Due 1/31/2020 1/31/2021 1/31/2022 1/31/2023 1/31/2024 Principal $ 306,549.02 $ 325,910.93 $ 350,272.85 $ 375,280.16 $ 395,287.47 Interest 1,294,598.69 1,277,288.46 1,258,883.32 1,231,409.15 1,205,074.79 Total Debt Service (1) $ 1,601,147.71 $ 1,603,199.40 $ 1,609,156.17 $ 1,606,689.31 $ 1,600,362.26 Delinquency & Prepayment Reserve (2) $ 81,078.02 $ 79,787.22 $ 78,415.75 $ 76,963.61 $ 75,430.79 Administrative Expenses (3) $ 44,764.75 $ 45,660.04 $ 46,573.24 $ 47,504.71 $ 48,454.80 Total Annual Installment (4) = (1) + (2) + (3) $ 1,726,990.47 $ 1,728,646.66 $ 1,734,145.16 $ 1,731,157.63 $ 1,724,247.85 Installments Due 1/31/2020 1/31/2021 1/31/2022 1/31/2023 1/31/2024 Principal $ 78,520.38 $ 84,224.04 $ 89,927.70 $ 95,821.48 $ 101,715.26 Interest 336,188.99 331,847.38 327,183.23 322,196.54 316,875.09 Total Debt Service (1) $ 414,709.37 $ 416,071.42 $ 417,110.93 $ 418,018.02 $ 418,590.35 Delinquency & Prepayment Reserve (2) $ 23,884.07 $ 23,503.83 $ 23,099.82 $ 22,672.05 $ 22,220.51 Administrative Expenses (3) $ 13,186.86 $ 13,450.60 $ 13,719.61 $ 13,994.00 $ 14,273.88 Total Annual Installment (4) = (1) + (2) + (3) $ 451,780.30 $ 453,025.85 $ 453,930.36 $ 454,684.07 $ 455,084.73 Installments Due 1/31/2020 1/31/2021 1/31/2022 1/31/2023 1/31/2024 Principal $ 67,930.60 $ 72,865.03 $ 77,799.45 $ 82,898.36 $ 87,997.27 Interest 290,848.33 287,092.26 283,057.15 278,742.99 274,139.22 Total Debt Service (1) $ 358,778.93 $ 359,957.28 $ 360,856.60 $ 361,641.35 $ 362,136.49 Delinquency & Prepayment Reserve (2) $ 20,662.91 $ 20,333.95 $ 19,984.43 $ 19,614.34 $ 19,223.70 Administrative Expenses (3) $ 11,408.39 $ 11,636.56 $ 11,869.29 $ 12,106.68 $ 12,348.81 Total Annual Installment (4) = (1) + (2) + (3) $ 390,850.23 $ 391,927.79 $ 392,710.32 $ 393,362.38 $ 393,709.01 Installments Due 1/31/2020 1/31/2021 1/31/2022 1/31/2023 1/31/2024 Principal $ 453,000.00 $ 483,000.00 $ 518,000.00 $ 554,000.00 $ 585,000.00 Interest 1,921,636.00 1,896,228.10 1,869,123.70 1,832,348.69 1,796,089.10 Total Debt Service (1) $ 2,374,636.00 $ 2,379,228.10 $ 2,387,123.70 $ 2,386,348.69 $ 2,381,089.10 Delinquency & Prepayment Reserve (2) $ 125,625.00 $ 123,625.00 $ 121,500.00 $ 119,250.00 $ 116,875.00 Administrative Expenses (3) $ 69,360.00 $ 70,747.20 $ 72,162.14 $ 73,605.39 $ 75,077.49 Total Annual Installment (4) = (1) + (2) + (3) $ 2,569,621.00 $ 2,573,600.30 $ 2,580,785.84 $ 2,579,204.08 $ 2,573,041.59 Annual Installments - Total Annual Installments - Improvement Area #3 Annual Installments - Improvement Area #2 Annual Installments - Improvement Area #1 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 9 Ordinance 890 BUDGET FOR CONSTRUCTION OF AUTHORIZED IMPROVEMENTS Improvement Project A According to the 2019 Quarter 2 Developer Continuing Disclosure, all Improvement Area #1 and Improvement Area #2 Authorized Improvements in Improvement Project A are being funded by Series 2015 Bond funds. The balance in the Improvement Fund with US Bank is $108,199.15 as of June 30, 2019. According to the Developer, available remaining funds are currently projected to be sufficient to complete the Authorized Improvement for Improvement Project A in Improvement Area #1 and Improvement Area #2 as described within the Service and Assessment Plan. Improvement Area #3 Authorized Improvements, with the exception of retaining walls, are not constructed, with an estimated cost of $3,400,000 anticipated to be funded by the Developer and subject to the Reimbursement Agreement – Part A. See the table below for details about the Improvement Project A budget. Improvement Project B According to the 2019 Quarter 2 Developer Continuing Disclosure, Improvement Project B (the public parking garage) improvements are not constructed, and the estimated costs of $6,160,000 Original Budget (1) Revisions Budget as of 6/30/19 (2) Original Budget (1) Revisions Budget as of 6/30/19 (2) Authorized Improvements Road 3,767,430$ 1,083,177$ 4,850,607$ 622,470$ -$ 622,470$ Water Distribution System 890,040 (668,035) 222,005 171,680 - 171,680 Sanitary Sewer 1,531,196 (1,298,927) 232,269 350,100 - 350,100 Storm drainage 1,154,306 (1,154,306) - 579,566 - 579,566 Landscaping 1,830,501 (661,929) 1,168,572 - - - Duct Bank 640,304 (142,838) 497,466 93,650 - 93,650 Other Costs (3)8,120,860 (1,131,154) 6,989,706 573,896 - 573,896 Parking Facility - - - - - - Consolidated Wet Utilities Contract - 3,974,012 3,974,012 - - - 17,934,637$ (1)$ 17,934,637$ 2,391,362$ -$ 2,391,362$ Bond Issue Costs Capitalized Interest 3,216,750$ -$ 3,216,750$ 218,620$ -$ 218,620$ Debt Service Reserve 2,074,313 - 2,074,313 340,000 - 340,000 Other Bond Issuance Related Costs 2,949,301 - 2,949,301 450,018 - 450,018 8,240,364$ -$ 8,240,364$ 1,008,638$ -$ 1,008,638$ Total Uses 26,175,001$ (1)$ 26,175,001$ 3,400,000$ -$ 3,400,000$ Notes: 1) Budget as shown in the Service and Assessment Plan. 2) The budget for the Authorized Improvements is adjusted in this Annual Service Plan Update as the Authorized Improvements are constructed and the Actual Costs of the Authorized Improvements are determined, per draw 38 provided by the Developer. 3) See Appendix B of the Service and Assessment Plan for details. Series 2015 Bonds Reimbursement Agreement - Part A Original vs. Revised Budget - Improvement Project A TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 10 Ordinance 890 are anticipated to be funded by the Developer, of which $2,450,000 are subject to Reimbursement Agreement – Part B. See the table below for details about the Improvement Project B budget. EQUIVALENT UNITS The Service and Assessment Plan uses Equivalent Units to apportion Assessment based on Land Use Class. The chart attached hereto as Exhibit C summarizes the original planned number of units broken down by Land Use Class and Improvement Area, assigns the Equivalent Unit factor to each Land Use Class as was originally calculated in the Service and Assessment Plan, and determines the total number of Equivalent Units for each Land Use Class in Improvement Area #1, Improvement Area #2, and Improvement Area #3. Equivalent Unit Factors are then multiplied by total Equivalent Units in each Land Use Class to determine Assessment per Unit for each Land Use Class for both Assessment Part A and Assessment Part B. The 2018 annual service plan update approved by Ordinance No. 861 on August 27, 2018 (the “2018 Annual Service Plan Update”) allocated Equivalent Units and their Assessment to their 2018 tax parcel IDs assigned by the County. For the purpose of calculating or reallocating of Assessments and any corresponding prepayments of Assessments, all subsequent annual service plan updates, including this Annual Service Plan Update, is to use the information set forth in Exhibit D. Original Budget (1)Revisions Budget as of 6/30/19 (2) Authorized Improvements Road -$ -$ -$ Water Distribution System - - - Sanitary Sewer - - - Storm Drainage - - - Landscaping - - - Duct Bank - - - Other Costs (3)- - - Parking Facility 6,160,000 - 6,160,000 6,160,000$ -$ 6,160,000$ Bond issue costs Capitalized Interest 170,000$ -$ 170,000$ Debt Service Reserve 242,500 - 242,500 Other Bond Issuance Related Costs 242,500 - 242,500 655,000$ -$ 655,000$ Total Uses 6,815,000$ -$ 6,815,000$ Notes: Original vs. Revised Budget - Improvement Project B 1) Budget as shown in the Service and Assessment Plan. 2) The budget for the Authorized Improvements is adjusted in this Annual Service Plan Update as the Authorized Improvements are constructed and the Actual Costs of the Authorized Improvements are determined. 3) See Appendix B of Service and Assessment Plan for details. Reimbursement Agreement - Part B (Parking Garage) TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 11 Ordinance 890 The calculation of the estimated number of units to be built on a Parcel shall be performed by the Administrator and confirmed by the Town Council based on the information available regarding the use of the Parcel. The outstanding Assessment Part A and outstanding Assessment Part B in each Improvement Area is reallocated to the newly platted Parcels based on the corresponding approved development plans and projected development plan for each Parcel provided by the Developer. The detailed projected land use by Parcel are provided by the Developer and the corresponding Equivalent Unit calculations are shown in Exhibit D. Due to Developer initiated changes to the development plan and site plan(s), the allocated Equivalent Units were reallocated due to a change in the special conferred benefit of the Assessed Property and uses. Therefore, the Service and Assessment Plan Assessments were reallocated to the Subject Property (defined in Exhibit H) from the Remining Property (defined in Exhibit H) in the District, as described in Exhibit H. ASSESSMENT ROLL The list of current Lots within the PID, the corresponding total Assessments, and current Annual Installment are shown on the Assessment Roll attached hereto as Exhibit A. The Parcels shown on the Assessment Roll will receive the bills for the 2019 Annual Installments which will be delinquent if not paid by January 31, 2020. TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 12 Ordinance 890 EXHIBIT A – ASSESSMENT ROLL Parcel ID Legal Description Outstanding Assessment Annual Installment Due 1/31/20 42229969 WESTLAKE ENTRADA Block M Lot 1 696,163.79$ 58,024.20$ 42229977 WESTLAKE ENTRADA Block M Lot 2R PLAT D216204548 169,800.08$ 14,108.22$ 42229985 WESTLAKE ENTRADA Block M Lot 3R PLAT D216204548 50,519.03$ 4,197.49$ 42229993 WESTLAKE ENTRADA Block N Lot 1 446,506.61$ 37,098.99$ 42230002 WESTLAKE ENTRADA Block N Lot 2 48,554.40$ 4,034.25$ 42230011 WESTLAKE ENTRADA Block N Lot 3 207,268.37$ 17,221.35$ 42230029 WESTLAKE ENTRADA Block N Lot 4 39,547.73$ 3,285.91$ 42230037 WESTLAKE ENTRADA Block N Lot 5 29,341.86$ 2,437.93$ 42230045 WESTLAKE ENTRADA Block N Lot 6X OPEN SPACE -$ -$ 42331160 WESTLAKE ENTRADA Block J Lot 11 38,221.88$ 3,185.74$ 42331178 WESTLAKE ENTRADA Block J Lot 12 38,221.88$ 3,185.74$ 42331186 WESTLAKE ENTRADA Block J Lot 13 38,221.88$ 3,185.74$ 42331194 WESTLAKE ENTRADA Block J Lot 14 38,221.88$ 3,185.74$ 42331208 WESTLAKE ENTRADA Block J Lot 15 38,221.88$ 3,185.74$ 42331216 WESTLAKE ENTRADA Block J Lot 16 38,221.88$ 3,185.74$ 42331224 WESTLAKE ENTRADA Block J Lot 17X OPEN SPACE -$ -$ 42331232 WESTLAKE ENTRADA Block J Lot 18X OPEN SPACE -$ -$ 42331241 WESTLAKE ENTRADA Block J Lot 19X OPEN SPACE -$ -$ 42331259 WESTLAKE ENTRADA Block J Lot 20X PRIVATE STREET -$ -$ 42331283 WESTLAKE ENTRADA Block S Lot 1X OPEN SPACE -$ -$ 42346426 WESTLAKE ENTRADA - CORTES Block L Lot 6 280,661.30$ 23,319.37$ 42346434 WESTLAKE ENTRADA - CORTES Block S Lot 2X OPEN SPACE -$ -$ 42400439 WESTLAKE ENTRADA Block P Lot 2 1,020,586.53$ 84,797.70$ 42400447 WESTLAKE ENTRADA Block P Lot 3 459,263.94$ 38,158.96$ 42400455 WESTLAKE ENTRADA Block P Lot 4X OPEN SPACE SCHOOL BPOUNDARY SPLIT -$ -$ 42402318 WESTLAKE ENTRADA Block B Lot 1R SCHOOL BOUNDARY SPLIT 1,017,008.95$ 84,500.44$ 42402326 WESTLAKE ENTRADA Block B Lot 2 SCHOOL BOUNDARY SPLIT -$ -$ 42402334 WESTLAKE ENTRADA Block B Lot 3 770,968.08$ 64,057.59$ 42402342 WESTLAKE ENTRADA Block B Lot 4 943,910.72$ 78,426.92$ 42402351 WESTLAKE ENTRADA Block B Lot 5 SCHOOL BOUNDARY SPLIT -$ -$ 42402369 WESTLAKE ENTRADA Block C Lot 1 SCHOOL BOUNDARY SPLIT 823,804.69$ 68,447.64$ 42402377 WESTLAKE ENTRADA Block C Lot 2 283,467.91$ 23,552.56$ 42402385 WESTLAKE ENTRADA Block C Lot 3A 70,165.32$ 5,829.84$ 42402393 WESTLAKE ENTRADA Block C Lot 3B 112,264.52$ 9,327.75$ 42402407 WESTLAKE ENTRADA Block C Lot 4 210,495.97$ 17,489.52$ 42402415 WESTLAKE ENTRADA Block C Lot 5 175,413.31$ 14,574.60$ 42402423 WESTLAKE ENTRADA Block C Lot 6X OPEN SPACE 29,469.44$ 2,448.53$ 42402431 WESTLAKE ENTRADA Block D Lot 1 290,068.25$ 24,176.75$ 42402440 WESTLAKE ENTRADA Block D Lot 2X OPEN SPACE -$ -$ 42402458 WESTLAKE ENTRADA Block E Lot 1 693,515.96$ 57,803.51$ TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 13 Ordinance 890 Parcel ID Legal Description Outstanding Assessment Annual Installment Due 1/31/20 42402466 WESTLAKE ENTRADA Block E Lot 15 55,822.95$ 4,652.76$ 42402474 WESTLAKE ENTRADA Block E Lot 16 55,822.95$ 4,652.76$ 42402482 WESTLAKE ENTRADA Block E Lot 17 55,822.95$ 4,652.76$ 42402491 WESTLAKE ENTRADA Block E Lot 18X OPEN SPACE 63,786.66$ 5,299.86$ 42402504 WESTLAKE ENTRADA Block F Lot 1 55,822.95$ 4,652.76$ 42402512 WESTLAKE ENTRADA Block F Lot 2 55,822.95$ 4,652.76$ 42402521 WESTLAKE ENTRADA Block F Lot 3 55,822.95$ 4,652.76$ 42402539 WESTLAKE ENTRADA Block F Lot 4 55,822.95$ 4,652.76$ 42402547 WESTLAKE ENTRADA Block F Lot 5 573,328.26$ 47,786.05$ 42402555 WESTLAKE ENTRADA Block F Lot 6X OPEN SPACE 38,272.00$ 3,179.91$ 42402563 WESTLAKE ENTRADA Block G Lot 1 840,881.45$ 70,086.20$ 42402571 WESTLAKE ENTRADA Block G Lot 2 55,822.95$ 4,652.76$ 42402580 WESTLAKE ENTRADA Block G Lot 3 55,822.95$ 4,652.76$ 42402598 WESTLAKE ENTRADA Block G Lot 4 55,822.95$ 4,652.76$ 42402601 WESTLAKE ENTRADA Block G Lot 5 55,822.95$ 4,652.76$ 42402610 WESTLAKE ENTRADA Block G Lot 6X OPEN SPACE 38,272.00$ 3,179.91$ 42402628 WESTLAKE ENTRADA Block H Lot 1 229,331.30$ 19,114.42$ 42402636 WESTLAKE ENTRADA Block H Lot 2 55,822.95$ 4,652.76$ 42402644 WESTLAKE ENTRADA Block H Lot 3 55,822.95$ 4,652.76$ 42402652 WESTLAKE ENTRADA Block H Lot 4 55,822.95$ 4,652.76$ 42402661 WESTLAKE ENTRADA Block H Lot 5 435,102.37$ 36,265.13$ 42402679 WESTLAKE ENTRADA Block H Lot 6X OPEN SPACE 38,272.00$ 3,179.91$ 42402687 WESTLAKE ENTRADA Block J Lot 1 229,331.30$ 19,114.42$ 42402695 WESTLAKE ENTRADA Block K Lot 1 1,299,334.23$ 107,958.07$ 42402709 WESTLAKE ENTRADA Block K Lot 2 1,299,334.23$ 107,958.07$ 42402717 WESTLAKE ENTRADA Block K Lot 3 1,211,946.51$ 100,697.26$ 42402725 WESTLAKE ENTRADA Block K Lot 4 1,594,921.61$ 132,517.60$ 42402733 WESTLAKE ENTRADA Block K Lot 5 -$ -$ 42402741 WESTLAKE ENTRADA Block L Lot 1 690,171.64$ 57,344.44$ 42402750 WESTLAKE ENTRADA Block L Lot 2 1,046,101.20$ 86,917.64$ 42402768 WESTLAKE ENTRADA Block L Lot 3 711,093.67$ 59,082.79$ 42402776 WESTLAKE ENTRADA Block L Lot 4 644,755.54$ 53,570.94$ 42402784 WESTLAKE ENTRADA Block L Lot 5 3,348,544.42$ 278,221.24$ 42402792 WESTLAKE ENTRADA Block P Lot 1 SCHOOL BOUNDARY SPLIT 472,021.27$ 39,218.93$ 42402806 WESTLAKE ENTRADA Block P Lot 4X OPEN SPACE SCHOOL BOUNDARY SPLIT -$ -$ 42402814 WESTLAKE ENTRADA Block P Lot 5X OPEN SPACE -$ -$ 42402822 WESTLAKE ENTRADA Block Q Lot 1 5,089,292.12$ 424,080.33$ 42402831 WESTLAKE ENTRADA Block R Lot 1 307,324.12$ 25,534.71$ 42424567 WESTLAKE ENTRADA Block I Lot 1XRR PRIVATE ACCESS -$ -$ 42424575 WESTLAKE ENTRADA Block I Lot 2XRR OPEN SPACE -$ -$ TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 14 Ordinance 890 Parcel ID Legal Description Outstanding Assessment Annual Installment Due 1/31/20 42424583 WESTLAKE ENTRADA Block I Lot 3R 29,006.82$ 2,417.68$ 42424591 WESTLAKE ENTRADA Block I Lot 4R 29,006.82$ 2,417.68$ 42424605 WESTLAKE ENTRADA Block I Lot 5R 38,221.88$ 3,185.74$ 42424613 WESTLAKE ENTRADA Block I Lot 6R 29,006.82$ 2,417.68$ 42424621 WESTLAKE ENTRADA Block I Lot 7R 38,221.88$ 3,185.74$ 42424630 WESTLAKE ENTRADA Block I Lot 8R 38,221.88$ 3,185.74$ 42424648 WESTLAKE ENTRADA Block I Lot 9R 29,006.82$ 2,417.68$ 42424656 WESTLAKE ENTRADA Block I Lot 10R 38,221.88$ 3,185.74$ 42424664 WESTLAKE ENTRADA Block I Lot 11R 38,221.88$ 3,185.74$ 42424672 WESTLAKE ENTRADA Block I Lot 12R 38,221.88$ 3,185.74$ 42424681 WESTLAKE ENTRADA Block I Lot 13R 38,221.88$ 3,185.74$ 42424699 WESTLAKE ENTRADA Block I Lot 14R 38,221.88$ 3,185.74$ 42424702 WESTLAKE ENTRADA Block I Lot 15XRR OPEN SPACE -$ -$ 42447052 WESTLAKE ENTRADA Block A Lot 1R 30,872.74$ 2,565.13$ 42447061 WESTLAKE ENTRADA Block A Lot 2 16,839.68$ 1,399.16$ 42447079 WESTLAKE ENTRADA Block A Lot 3 306,175.96$ 25,439.31$ 42447087 WESTLAKE ENTRADA Block A Lot 4 OPEN SPACE -$ -$ 42447109 WESTLAKE ENTRADA Block O Lot 2RX OPEN SPACE -$ -$ 42447117 WESTLAKE ENTRADA Block O Lot 3RX OPEN SPACE -$ -$ 42447125 WESTLAKE ENTRADA Block O Lot 1R SCHOOL BOUNDARY SPLIT 38,272.00$ 3,179.91$ Total 30,895,000.00$ 2,569,621.00$ TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 15 Ordinance 890 EXHIBIT B – NEW APPROVED PLATS TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 16 Ordinance 890 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 17 Ordinance 890 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 18 Ordinance 890 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 19 Ordinance 890 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 20 Ordinance 890 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 21 Ordinance 890 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 22 Ordinance 890 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 23 Ordinance 890 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 24 Ordinance 890 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 25 Ordinance 890 EXHIBIT C – LAND USE CLASS Type Planned No. of Units EU Factor Total EU Original Assessment Part A per EU Original Assessment Part A per Unit Original Total Assessment Part A Original Assessment Part B per EU Original Assessment Part B per Unit Original Total Assessment Part B Original Total Assessment - Part A & B Land Use Class 1 38.00 1.00 38.00 58,797.94$ 58,797.94$ 2,234,321.65$ 7,470.02$ 7,470.02$ 283,860.95$ 2,518,182.60$ Land Use Class 2 71.00 0.62 44.02 58,797.94$ 36,454.72$ 2,588,285.24$ 7,470.02$ 4,631.42$ 328,830.49$ 2,917,115.73$ Land Use Class 3 6.00 0.60 3.60 58,797.94$ 35,278.76$ 211,672.58$ 7,470.02$ 4,482.01$ 26,892.09$ 238,564.67$ Land Use Class 10 372.10 0.22 81.86 58,797.94$ 12,935.55$ 4,813,303.88$ 7,470.02$ 1,643.41$ 611,509.53$ 5,424,813.41$ Land Use Class 11 266.10 0.20 53.22 58,797.94$ 11,759.59$ 3,129,226.27$ 7,470.02$ 1,494.00$ 397,554.72$ 3,526,781.00$ Land Use Class 12 255.50 0.21 53.66 58,797.94$ 12,347.57$ 3,154,803.37$ 7,470.02$ 1,568.71$ 400,804.18$ 3,555,607.56$ Land Use Class 13 264.60 0.19 50.27 58,797.94$ 11,171.61$ 2,956,007.55$ 7,470.02$ 1,419.30$ 375,548.03$ 3,331,555.58$ 324.63 Subtotal: IA #1 19,087,620.54$ 2,425,000.00$ 21,512,620.54$ Type Planned No. of Units EU Factor Total EU Original Assessment Part A per EU Original Assessment Part A per Unit Original Total Assessment Part A Original Assessment Part B per EU Original Assessment Part B per Unit Original Total Assessment Part B Original Total Assessment - Part A & B Land Use Class 4 42.00 1.00 42.00 63,313.99$ 63,313.99$ 2,659,187.64$ -$ -$ -$ 2,659,187.64$ Land Use Class 5 16.00 0.68 10.96 63,313.99$ 43,350.99$ 693,615.83$ -$ -$ -$ 693,615.83$ Land Use Class 6 69.00 0.52 35.85 63,313.99$ 32,899.33$ 2,270,054.08$ -$ -$ -$ 2,270,054.08$ 88.81 Subtotal: IA #2 5,622,857.55$ -$ 5,622,857.55$ Type Planned No. of Units EU Factor Total EU Original Assessment Part A per EU Original Assessment Part A per Unit Original Total Assessment Part A Original Assessment Part B per EU Original Assessment Part B per Unit Original Total Assessment Part B Original Total Assessment - Part A & B Land Use Class 7 21.00 1.00 21.00 86,189.26$ 86,189.26$ 1,809,974.49$ -$ -$ -$ 1,809,974.49$ Land Use Class 8 23.00 0.68 15.64 86,189.26$ 58,608.70$ 1,348,000.05$ -$ -$ -$ 1,348,000.05$ Land Use Class 9 36.00 0.55 19.80 86,189.26$ 47,404.09$ 1,706,547.37$ -$ -$ -$ 1,706,547.37$ 56.44 Subtotal: IA #3 4,864,521.90$ -$ 4,864,521.90$ 469.88 29,575,000.00$ 2,425,000.00$ 32,000,000.00$ Total - All Improvement Areas: Improvement Area #1 Equivalent Units Original Assessment Part A Original Assessment Part A Original Assessment Part A Original Assessment Part B Original Assessment Part B Original Assessment Part B Improvement Area #2 Improvement Area #3 Equivalent Units Equivalent Units TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 26 Ordinance 890 EXHIBIT D – LAND USE AND EQUIVALENT UNITS BY PARCEL ID 2018 Parcel ID 2019 Parcel ID Proposed Use Units/ Sq. Ft. Land Use Class EU Factor Total EU 42447052 Commercial - Retail 2,200 10 0.22 0.48 42447061 Commercial - Retail 1,200 10 0.22 0.26 42447079 Commercial - Office 24,000 11 0.20 4.80 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 3.60 42230002 42230002 Commercial - Retail 3,460 10 0.22 0.76 42230011 42230011 Commercial - Retail 14,770 10 0.22 3.25 42230029 42230029 Commercial - Office 3,100 11 0.20 0.62 42230037 42230037 Commercial - Office 2,300 11 0.20 0.46 42229977 42229977 Commercial - Retail 12,100 10 0.22 2.66 42229985 42229985 Commercial - Retail 3,600 10 0.22 0.79 42402792 Commercial - Office 37,000 11 0.20 7.40 42400439 Commercial - Office 80,000 11 0.20 16.00 42402318 Commercial - Retail 72,472 10 0.22 15.94 42402326 Public - - - 42402334 Commercial - Office 60,433 11 0.20 12.09 42402679 Commercial - Office 3,000 11 0.20 0.60 42402610 Commercial - Office 3,000 11 0.20 0.60 42402555 Commercial - Office 3,000 11 0.20 0.60 42402491 Commercial - Office 5,000 11 0.20 1.00 42402351 Public - - - 42402342 Commercial - Retail 67,263 10 0.22 14.80 42402369 Commercial - Hospitality 61,500 12 0.21 12.92 42402377 Commercial - Retail 20,200 10 0.22 4.44 42402385 Commercial - Retail 5,000 10 0.22 1.10 42402393 Commercial - Retail 8,000 10 0.22 1.76 42402423 Commercial - Retail 2,100 10 0.22 0.46 42402407 Commercial - Retail 15,000 10 0.22 3.30 42402415 Commercial - Retail 12,500 10 0.22 2.75 42402831 Commercial - Retail 21,900 10 0.22 4.82 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 42402822 Commercial - Institutional 33,000 13 0.19 6.27 42346426 42346426 Commercial - Office 22,000 11 0.20 4.40 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 Commercial - Retail 23,400 10 0.22 5.15 Condo (More than 3,600 sq. ft.)6 1 1.00 6.00 Commercial - Retail 23,400 10 0.22 5.15 Condo (2,500 sq. ft. to 3,600 sq. ft.)8 2 0.62 4.96 42402695 Commercial - Hospitality 97,000 12 0.21 20.37 42402709 Commercial - Hospitality 97,000 12 0.21 20.37 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 42402717 Commercial - Institutional 100,000 13 0.19 19.00 42402725 Commercial - Institutional 131,600 13 0.19 25.00 42229861 Commercial - Office - 11 0.20 - 42229870 Commercial - Office 3,000 11 0.20 0.60 42229853 42400447 Commercial - Office 36,000 11 0.20 7.20 Total - IA #1:325.86 Notes: The proposed uses for each Parcel are provided by the Developer. Improvement Area #1 42229853 42402750 42402741 42402784 42447125 42229845 42229993 42229993 42402768 42402776 42229853 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 27 Ordinance 890 2018 Parcel ID 2019 Parcel ID Proposed Use Units/ Sq. Ft. Land Use Class EU Factor Total EU 42229969 42229969 Villa - West Residential (Under 2,500 sq. ft.)24 6 0.52 12.47 42402687 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)6 5 0.68 4.11 42402628 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)6 5 0.68 4.11 42402636 Villa - West Residential (More than 3,600 sq. ft.)1 4 1.00 1.00 42402644 Villa - West Residential (More than 3,600 sq. ft.)1 4 1.00 1.00 42402652 Villa - West Residential (More than 3,600 sq. ft.)1 4 1.00 1.00 42402661 Villa - West Residential (Under 2,500 sq. ft.)15 6 0.52 7.79 42402563 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)22 5 0.68 15.06 42402571 Villa - West Residential (More than 3,600 sq. ft.)1 4 1.00 1.00 42402580 Villa - West Residential (More than 3,600 sq. ft.)1 4 1.00 1.00 42402598 Villa - West Residential (More than 3,600 sq. ft.)1 4 1.00 1.00 42402601 Villa - West Residential (More than 3,600 sq. ft.)1 4 1.00 1.00 42402504 Villa - West Residential (More than 3,600 sq. ft.)1 4 1.00 1.00 42402512 Villa - West Residential (More than 3,600 sq. ft.)1 4 1.00 1.00 42402521 Villa - West Residential (More than 3,600 sq. ft.)1 4 1.00 1.00 42402539 Villa - West Residential (More than 3,600 sq. ft.)1 4 1.00 1.00 42402547 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)15 5 0.68 10.27 42402466 Villa - West Residential (More than 3,600 sq. ft.)1 4 1.00 1.00 42402474 Villa - West Residential (More than 3,600 sq. ft.)1 4 1.00 1.00 42402482 Villa - West Residential (More than 3,600 sq. ft.)1 4 1.00 1.00 42402431 Villa - West Residential (Under 2,500 sq. ft.)10 6 0.52 5.20 Villa - West Residential (More than 3,600 sq. ft.)9 4 1.00 9.00 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)5 5 0.68 3.42 Villa - West Residential (Under 2,500 sq. ft.)- 6 0.52 - 42345462 42424583 Villa - West Residential (Under 2,500 sq. ft.)1 6 0.52 0.52 42345471 42424591 Villa - West Residential (Under 2,500 sq. ft.)1 6 0.52 0.52 42345489 42424605 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)1 5 0.68 0.68 42345497 42424613 Villa - West Residential (Under 2,500 sq. ft.)1 6 0.52 0.52 42345501 42424621 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)1 5 0.68 0.68 42345519 42424630 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)1 5 0.68 0.68 42345527 42424648 Villa - West Residential (Under 2,500 sq. ft.)1 6 0.52 0.52 42345535 42424656 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)1 5 0.68 0.68 42345543 42424664 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)1 5 0.68 0.68 42345551 42424672 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)1 5 0.68 0.68 42345560 42424681 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)1 5 0.68 0.68 42345578 42424699 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)1 5 0.68 0.68 42331160 42331160 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)1 5 0.68 0.68 42331178 42331178 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)1 5 0.68 0.68 42331186 42331186 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)1 5 0.68 0.68 42331194 42331194 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)1 5 0.68 0.68 42331208 42331208 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)1 5 0.68 0.68 42331216 42331216 Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)1 5 0.68 0.68 144 Total - IA #2:97.10 Notes: The proposed uses for each Parcel are provided by the Developer. Improvement Area #2 42229853 42402458 2018 Parcel ID 2019 Parcel ID Proposed Use Units/ Sq. Ft. Land Use Class EU Factor Total EU Villa - East Residential (More than 3,600 sq. ft.)21 7 1.00 21.00 Villa - East Residential (2,500 sq. ft. to 3,600 sq. ft.)23 8 0.68 15.64 Villa - East Residential (Under 2,500 sq. ft.)36 9 0.55 19.80 80 Total - IA #3:56.44 Notes: The proposed uses for each Parcel are provided by the Developer. Improvement Area #3 4240282242229853 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 28 Ordinance 890 EXHIBIT E – SERIES 2015 BONDS DEBT SERVICE SCHEDULE TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 29 Ordinance 890 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 30 Ordinance 890 EXHIBIT F – REIMBURSEMENT AGREEEMENT – PART A DEBT SERVICE SCHEDULE TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 31 Ordinance 890 EXHIBIT G – REIMBURSEMENT AGREEEMENT – PART B DEBT SERVICE SCHEDULE TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 32 Ordinance 890 EXHIBIT H – CONSENT TO LEVY OF ASSESSMENTS TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 33 Ordinance 890 TOWN OF WESTLAKE, TEXAS SOLANA PID 2019 ANNUAL SERVICE PLAN UPDATE 34 Ordinance 890 By: arNaaNa GO MARY LOUISE NICHOLSON ;? COUNTY CLERK : 100 West Weatherford Fort Worth, TX 76196-0401 �'•�'•» *•���` PHONE (817) 884-1195 TOWN OF WESTLAKE 1500 SOLANA BLVD BLDG 7 STE 7200 WESTLAKE, TX 76262 Submitter: TOWN OF WESTLAKE DO NOT DESTROY WARNING - THIS IS PART OF THE OFFICIAL RECORD, Filed For Registration: 9/23/2019 2:33 PM Instrument #: D219216515 OPR 38 PGS $160.00 D219216515 ANY PROVISION WHICH RESTRICTS THE SALE, RENTAL OR USE OF THE DESCRIBED REAL PROPERTY BECAUSE OF COLOR OR RACE IS INVALID AND UNENFORCEABLE UNDER FEDERAL LAW.