HomeMy WebLinkAboutSolana PID - Annual Service Plan Update - 2017-18-Part B-DRAFT
v1.0
SOLANA PUBLIC IMPROVEMENT DISTRICT
WESTLAKE, TEXAS
ANNUAL SERVICE PLAN UPDATE – ASSESSMENT PART B
December 5, 2017
PRELIMINARY
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,
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 ________, (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 $6,825,000
Developer funds $0 $0 $4,390,000 $4,390,000
Total Sources $26,175,000 $3,400,000 $6,815,000 $36,390,000
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 $170,000 $3,605,370
Debt service reserve $2,074,313 $340,000 $242,500 $2,656,813
Other bond issuance related costs $2,949,301 $450,018 $242,500 $3,641,819
Subtotal $8,240,364 $1,008,638 $655,000 $9,904,002
Total Uses $26,175,000 $3,400,000 $6,815,000 $36,390,000
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
PID Sources and Uses of Funds
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 $6,815,000 $2,425,000 $4,390,000 $2,378,306
2019 $0 $0 $0 $2,559,660
2020 $0 $0 $0 $2,566,491
2021 $0 $0 $0 $2,572,563
2022 $0 $0 $0 $2,580,808
$36,390,000 $32,000,000 $4,390,000 $14,715,437
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, the parking garage
and deferred the levy of Assessment Part B to pay for the parking garage 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 list of 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 Appendix D of the Service and Assessment
Plan for Improvement Area #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 this Service and Assessment Plan 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 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 $6,815,000 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
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
5
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
the Assessment Rolls, as updated each year. Payment of the Annual Installments shall
commence with tax bills mailed after the levy of the Assessments.
6
Each Assessment Part B shall be paid with interest based on an estimated interest rate of
9.04% per annum for years 1 through 5 and 6.04% per annum following the fifth Annual
Installment. 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 ____________2017 was 4.04%. The Town has determined
that the Assessment Part B shall bear interest at the estimated interest rate of 9.04% per
annum for years 1 through 5 and 6.04% per annum following the fifth Annual
Installment, which rates are equal to or less than the initial maximum allowable rate of
interest of 9.04% for years 1 through 5 and equal to the maximum allowable rate of
interest following the fifth Annual Installment, which would be 6.04%. 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
Draft v1.0
Parcel All
Assessment Part B $2,425,000
Total Equivalent Units 324.63
Administrative Expenses2
2018 $219,220 $30,000 $249,220
2019 $259,220 $30,600 $289,820
2020 $255,604 $31,212 $286,816
2021 $251,988 $31,836 $283,824
2022 $253,372 $32,473 $285,845
2023 $186,504 $33,122 $219,626
2024 $183,484 $33,785 $217,269
2025 $185,464 $34,461 $219,925
2026 $182,142 $35,150 $217,292
2027 $183,820 $35,853 $219,673
2028 $185,196 $36,570 $221,766
2029 $186,270 $37,301 $223,571
2030 $182,042 $38,047 $220,089
2031 $182,814 $38,808 $221,622
2032 $183,284 $39,584 $222,868
2033 $183,452 $40,376 $223,828
2034 $183,318 $41,184 $224,502
2035 $182,882 $42,007 $224,889
2036 $187,144 $42,847 $229,991
2037 $185,802 $43,704 $229,506
2038 $184,158 $44,578 $228,736
2039 $182,212 $45,470 $227,682
2040 $184,964 $46,379 $231,343
2041 $187,112 $47,307 $234,419
2042 $183,656 $48,253 $231,909
2043 $184,898 $49,218 $234,116
2044 $185,536 $50,203 $235,739
2045 $185,570 $51,207 $236,777
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 $5,481,128 $1,111,536 $6,592,664
(1) The principal and interest rates are estimated and will be updated at the time of Assessment Part B Levy. Interest rates
on the Reimbursement Agreement are estimated at 9.04% per annum for years 1 thorugh 5 and 6.04% 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
Draft v1.0
Parcel 42229845
Assessment Part B $41,444
Total Equivalent Units 5.55
Administrative Expenses2
2018 $3,747 $513 $4,259
2019 $4,430 $523 $4,953
2020 $4,368 $533 $4,902
2021 $4,307 $544 $4,851
2022 $4,330 $555 $4,885
2023 $3,187 $566 $3,754
2024 $3,136 $577 $3,713
2025 $3,170 $589 $3,759
2026 $3,113 $601 $3,714
2027 $3,142 $613 $3,754
2028 $3,165 $625 $3,790
2029 $3,183 $637 $3,821
2030 $3,111 $650 $3,762
2031 $3,124 $663 $3,788
2032 $3,132 $677 $3,809
2033 $3,135 $690 $3,826
2034 $3,133 $704 $3,837
2035 $3,125 $718 $3,844
2036 $3,198 $732 $3,931
2037 $3,175 $747 $3,923
2038 $3,147 $762 $3,909
2039 $3,114 $777 $3,891
2040 $3,161 $793 $3,954
2041 $3,198 $808 $4,007
2042 $3,139 $825 $3,964
2043 $3,160 $841 $4,002
2044 $3,171 $858 $4,029
2045 $3,171 $875 $4,047
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 $93,673 $18,996 $112,678
(1) The principal and interest rates are estimated and will be updated at the time of Assessment Part B Levy. Interest rates
on the Reimbursement Agreement are estimated at 9.04% per annum for years 1 thorugh 5 and 6.04% 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
Draft v1.0
Parcel 42229993
Assessment Part B $52,290
Total Equivalent Units 7.00
Administrative Expenses2
2018 $4,727 $647 $5,374
2019 $5,590 $660 $6,249
2020 $5,512 $673 $6,185
2021 $5,434 $686 $6,120
2022 $5,463 $700 $6,164
2023 $4,022 $714 $4,736
2024 $3,956 $729 $4,685
2025 $3,999 $743 $4,742
2026 $3,928 $758 $4,686
2027 $3,964 $773 $4,737
2028 $3,993 $789 $4,782
2029 $4,017 $804 $4,821
2030 $3,925 $820 $4,746
2031 $3,942 $837 $4,779
2032 $3,952 $854 $4,806
2033 $3,956 $871 $4,827
2034 $3,953 $888 $4,841
2035 $3,943 $906 $4,850
2036 $4,035 $924 $4,960
2037 $4,006 $942 $4,949
2038 $3,971 $961 $4,933
2039 $3,929 $980 $4,910
2040 $3,988 $1,000 $4,989
2041 $4,035 $1,020 $5,055
2042 $3,960 $1,040 $5,001
2043 $3,987 $1,061 $5,049
2044 $4,001 $1,083 $5,084
2045 $4,001 $1,104 $5,106
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 $118,189 $23,968 $142,167
(1) The principal and interest rates are estimated and will be updated at the time of Assessment Part B Levy. Interest rates
on the Reimbursement Agreement are estimated at 9.04% per annum for years 1 thorugh 5 and 6.04% 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
Draft v1.0
Parcel 42230002
Assessment Part B $5,686
Total Equivalent Units 0.76
Administrative Expenses2
2018 $514 $70 $584
2019 $608 $72 $680
2020 $599 $73 $673
2021 $591 $75 $666
2022 $594 $76 $670
2023 $437 $78 $515
2024 $430 $79 $509
2025 $435 $81 $516
2026 $427 $82 $510
2027 $431 $84 $515
2028 $434 $86 $520
2029 $437 $87 $524
2030 $427 $89 $516
2031 $429 $91 $520
2032 $430 $93 $523
2033 $430 $95 $525
2034 $430 $97 $526
2035 $429 $98 $527
2036 $439 $100 $539
2037 $436 $102 $538
2038 $432 $105 $536
2039 $427 $107 $534
2040 $434 $109 $543
2041 $439 $111 $550
2042 $431 $113 $544
2043 $434 $115 $549
2044 $435 $118 $553
2045 $435 $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 $12,852 $2,606 $15,460
(1) The principal and interest rates are estimated and will be updated at the time of Assessment Part B Levy. Interest rates
on the Reimbursement Agreement are estimated at 9.04% per annum for years 1 thorugh 5 and 6.04% 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
Draft v1.0
Parcel 42230011
Assessment Part B $24,273
Total Equivalent Units 3.25
Administrative Expenses2
2018 $2,194 $300 $2,495
2019 $2,595 $306 $2,901
2020 $2,558 $312 $2,871
2021 $2,522 $319 $2,841
2022 $2,536 $325 $2,861
2023 $1,867 $332 $2,198
2024 $1,837 $338 $2,175
2025 $1,856 $345 $2,201
2026 $1,823 $352 $2,175
2027 $1,840 $359 $2,199
2028 $1,854 $366 $2,220
2029 $1,864 $373 $2,238
2030 $1,822 $381 $2,203
2031 $1,830 $388 $2,218
2032 $1,835 $396 $2,231
2033 $1,836 $404 $2,241
2034 $1,835 $412 $2,247
2035 $1,831 $420 $2,251
2036 $1,873 $429 $2,302
2037 $1,860 $437 $2,297
2038 $1,843 $446 $2,290
2039 $1,824 $455 $2,279
2040 $1,851 $464 $2,316
2041 $1,873 $474 $2,347
2042 $1,838 $483 $2,322
2043 $1,851 $493 $2,344
2044 $1,857 $503 $2,360
2045 $1,857 $513 $2,370
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 $54,863 $11,126 $65,994
(1) The principal and interest rates are estimated and will be updated at the time of Assessment Part B Levy. Interest rates
on the Reimbursement Agreement are estimated at 9.04% per annum for years 1 thorugh 5 and 6.04% 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
Draft v1.0
Parcel 42230029
Assessment Part B $4,631
Total Equivalent Units 0.62
Administrative Expenses2
2018 $419 $57 $476
2019 $495 $58 $554
2020 $488 $60 $548
2021 $481 $61 $542
2022 $484 $62 $546
2023 $356 $63 $419
2024 $350 $65 $415
2025 $354 $66 $420
2026 $348 $67 $415
2027 $351 $68 $420
2028 $354 $70 $424
2029 $356 $71 $427
2030 $348 $73 $420
2031 $349 $74 $423
2032 $350 $76 $426
2033 $350 $77 $428
2034 $350 $79 $429
2035 $349 $80 $430
2036 $357 $82 $439
2037 $355 $83 $438
2038 $352 $85 $437
2039 $348 $87 $435
2040 $353 $89 $442
2041 $357 $90 $448
2042 $351 $92 $443
2043 $353 $94 $447
2044 $354 $96 $450
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 $10,468 $2,123 $12,592
(1) The principal and interest rates are estimated and will be updated at the time of Assessment Part B Levy. Interest rates
on the Reimbursement Agreement are estimated at 9.04% per annum for years 1 thorugh 5 and 6.04% 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
Draft v1.0
Parcel 42230037
Assessment Part B $3,436
Total Equivalent Units 0.46
Administrative Expenses2
2018 $311 $43 $353
2019 $367 $43 $411
2020 $362 $44 $406
2021 $357 $45 $402
2022 $359 $46 $405
2023 $264 $47 $311
2024 $260 $48 $308
2025 $263 $49 $312
2026 $258 $50 $308
2027 $260 $51 $311
2028 $262 $52 $314
2029 $264 $53 $317
2030 $258 $54 $312
2031 $259 $55 $314
2032 $260 $56 $316
2033 $260 $57 $317
2034 $260 $58 $318
2035 $259 $60 $319
2036 $265 $61 $326
2037 $263 $62 $325
2038 $261 $63 $324
2039 $258 $64 $323
2040 $262 $66 $328
2041 $265 $67 $332
2042 $260 $68 $329
2043 $262 $70 $332
2044 $263 $71 $334
2045 $263 $73 $336
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 $7,767 $1,575 $9,342
(1) The principal and interest rates are estimated and will be updated at the time of Assessment Part B Levy. Interest rates
on the Reimbursement Agreement are estimated at 9.04% per annum for years 1 thorugh 5 and 6.04% 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
Draft v1.0
Parcel 42229977
Assessment Part B $19,885
Total Equivalent Units 2.66
Administrative Expenses2
2018 $1,798 $246 $2,044
2019 $2,126 $251 $2,377
2020 $2,096 $256 $2,352
2021 $2,066 $261 $2,327
2022 $2,078 $266 $2,344
2023 $1,529 $272 $1,801
2024 $1,505 $277 $1,782
2025 $1,521 $283 $1,803
2026 $1,494 $288 $1,782
2027 $1,507 $294 $1,801
2028 $1,519 $300 $1,819
2029 $1,527 $306 $1,833
2030 $1,493 $312 $1,805
2031 $1,499 $318 $1,817
2032 $1,503 $325 $1,828
2033 $1,504 $331 $1,836
2034 $1,503 $338 $1,841
2035 $1,500 $344 $1,844
2036 $1,535 $351 $1,886
2037 $1,524 $358 $1,882
2038 $1,510 $366 $1,876
2039 $1,494 $373 $1,867
2040 $1,517 $380 $1,897
2041 $1,534 $388 $1,922
2042 $1,506 $396 $1,902
2043 $1,516 $404 $1,920
2044 $1,521 $412 $1,933
2045 $1,522 $420 $1,942
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 $44,946 $9,115 $54,064
(1) The principal and interest rates are estimated and will be updated at the time of Assessment Part B Levy. Interest rates
on the Reimbursement Agreement are estimated at 9.04% per annum for years 1 thorugh 5 and 6.04% 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
Draft v1.0
Parcel 42229985
Assessment Part B $5,916
Total Equivalent Units 0.79
Administrative Expenses2
2018 $535 $73 $608
2019 $632 $75 $707
2020 $624 $76 $700
2021 $615 $78 $692
2022 $618 $79 $697
2023 $455 $81 $536
2024 $448 $82 $530
2025 $452 $84 $537
2026 $444 $86 $530
2027 $448 $87 $536
2028 $452 $89 $541
2029 $454 $91 $545
2030 $444 $93 $537
2031 $446 $95 $541
2032 $447 $97 $544
2033 $448 $99 $546
2034 $447 $100 $548
2035 $446 $102 $549
2036 $457 $105 $561
2037 $453 $107 $560
2038 $449 $109 $558
2039 $445 $111 $556
2040 $451 $113 $564
2041 $456 $115 $572
2042 $448 $118 $566
2043 $451 $120 $571
2044 $453 $122 $575
2045 $453 $125 $578
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 $13,372 $2,712 $16,085
(1) The principal and interest rates are estimated and will be updated at the time of Assessment Part B Levy. Interest rates
on the Reimbursement Agreement are estimated at 9.04% per annum for years 1 thorugh 5 and 6.04% 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
Draft v1.0
Parcel 42229853
Assessment Part B $2,267,438
Total Equivalent Units 303.54
Administrative Expenses2
2018 $204,976 $28,051 $233,027
2019 $242,377 $28,612 $270,990
2020 $238,996 $29,184 $268,182
2021 $235,615 $29,768 $265,386
2022 $236,909 $30,363 $267,276
2023 $174,386 $30,970 $205,361
2024 $171,562 $31,590 $203,158
2025 $173,414 $32,222 $205,642
2026 $170,307 $32,866 $203,181
2027 $171,876 $33,523 $205,408
2028 $173,163 $34,194 $207,366
2029 $174,167 $34,878 $209,055
2030 $170,214 $35,575 $205,800
2031 $170,936 $36,287 $207,235
2032 $171,375 $37,012 $208,401
2033 $171,532 $37,753 $209,299
2034 $171,407 $38,508 $209,930
2035 $170,999 $39,278 $210,293
2036 $174,984 $40,063 $215,065
2037 $173,730 $40,865 $214,612
2038 $172,193 $41,682 $213,893
2039 $170,373 $42,516 $212,908
2040 $172,946 $43,366 $216,333
2041 $174,955 $44,233 $219,209
2042 $171,723 $45,118 $216,863
2043 $172,884 $46,020 $218,928
2044 $173,481 $46,941 $220,446
2045 $173,513 $47,879 $221,417
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 $5,124,997 $1,039,315 $6,164,747
(1) The principal and interest rates are estimated and will be updated at the time of Assessment Part B Levy. Interest rates
on the Reimbursement Agreement are estimated at 9.04% per annum for years 1 thorugh 5 and 6.04% 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