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HomeMy WebLinkAbout12-09-13 TC Agenda PacketThe Regular Meeting of the Town of Westlake Town Council will begin immediately following the conclusion of the Town Council Workshop but not prior to the posted start time. Mission Statement On behalf of the citizens, the mission of the Town of Westlake is to be a one-of-a-kind community that blends our rural atmosphere with our vibrant culture and metropolitan location. Westlake, Texas – A Premier Knowledge Based Community Page 1 of 4 TOWN OF WESTLAKE, TEXAS Vision Points Sense of Place; Leadership; Caring Community; Exemplary Governance; and Service Excellence TOWN COUNCIL MEETING AGENDA December 9, 2013 WESTLAKE TOWN HALL 3 VILLAGE CIRCLE, 2ND FLOOR WESTLAKE, TX 76262 COUNCIL CHAMBERS or MUNICIPAL CONFERENCE ROOM Workshop Session: 5:00 p.m. Regular Session: 6:30 p.m. Ca n c e l e d lac k of qu o r u m Page 2 of 4 Workshop Session 1. CALL TO ORDER 2. PLEDGE OF ALLEGIANCE 3. REVIEW OF CONSENT AGENDA ITEMS FOR THE DECEMBER 9, 2013, TOWN COUNCIL REGULAR MEETING AGENDA. (10 min) 4. DISCUSSION ITEMS a. Standing Item: Update and discussion regarding Westlake Academy Phase I expansion project and enrollment projections. (15 min) b. Discussion of the Process for Establishing a Public Improvement District (PID) for the Entrada Development, the Petition Submitted to Establi sh a PID for Entrada, and a Draft Service Assessment Plan for Same. (30 min) c. Discussion regarding the proposed 2014 Town Council and Board of Trustees meeting calendar. (10 min) 5. EXECUTIVE SESSION The Council will conduct a closed session pursuant to Texas Government Code, annotated, Chapter 551, Subchapter D for the following: a. Section 551.071 (2) Consultation with Attorney on a matter in which the duty of the attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with the is Chapter including but are not limited to the following: Town of Westlake Certificate of Convenience & Necessity (CCN) for water and sewer service. b. Section 551.071(2) Consultation with Attorney - to seek advice of counsel on legal matters involving pending or contemplated litigation, settlement offers, or other legal matters not related directly to litigation or settlement. Pending or contemplated litigation and settlement offers include but are not limited to the following: Trophy Club Municipal District Number 1 6. RECONVENE MEETING 7. TAKE ANY ACTION, IF NEEDED, FROM EXECUTIVE SESSION ITEMS. 8. COUNCIL RECAP / STAFF DIRECTION 9. ADJOURNMENT Ca n c e l e d lac k of qu o r u m Page 3 of 4 Regular Session 1. CALL TO ORDER 2. CITIZEN PRESENTATIONS AND RECOGNITIONS: This is an opportunity for citizens to address the Council on any matter whether or not it is posted on the agenda. The Council cannot by law take action nor have any discussion or deliberations on any presentation made to the Council at this time concerning an item not listed on the agenda. The Council will receive the information, ask staff to review the matter, or an item may be noticed on a future agenda for deliberation or action. 3. CONSENT AGENDA: All items listed below are considered routine by the Town Council and will be enacted with one motion. There will be no separate discussion of items unless a Council Member or citizen so requests, in which event the item will be removed from the general order of business and considered in its normal sequence. a. Consider approval of the minutes from the November 11, 2013, meeting. b. Consider approval of Resolution 13-38, Adopting the 2014 Town Council and Board of Trustees meeting calendar. 4. EXECUTIVE SESSION The Council will conduct a closed session pursuant to Texas Government Code, annotated, Chapter 551, Subchapter D for the following: a. Section 551.071 (2) Consultation with Attorney on a matter in which the duty of the attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with the is Chapter including but are not limited to the following: Town of Westlake Certificate of Convenience & Necessity (CCN) for water and sewer service. b. Section 551.071(2) Consultation with Attorney - to seek advice of counsel on legal matters involving pending or contemplated litigation, settlement offers, or other legal matters not related directly to litigation or settlement. Pending or contemplated litigation and settlement offers include but are not limited to the following: Trophy Club Municipal District Number 1 5. RECONVENE MEETING 6. TAKE ANY ACTION, IF NEEDED, FROM EXECUTIVE SESSION ITEMS. Ca n c e l e d lac k of qu o r u m Page 4 of 4 7. FUTURE AGENDA ITEMS: Any Council member may request at a workshop and / or Council meeting, under “Future Agenda Item Requests”, an agenda item for a future Council meeting. The Council Member making the request will contact the Town Manager with the requested item and the Town Manager will list it on the agenda. At the meeting, the requesting Council Member will explain the item, the need for Council discussion of the item, the item’s relationship to the Council’s strategic priorities, and the amount of estimated staff time necessary to prepare for Council discussion. If the requesting Council Member receives a second, the Town Manager will place the item on the Council agenda calendar allowing for adequate time for staff preparation on the agenda item. 8. COUNCIL CALENDAR 9. ADJOURNMENT ANY ITEM ON THIS POSTED AGENDA COULD BE DISCUSSED IN EXECUTIVE SESSION AS LONG AS IT IS WITHIN ONE OF THE PERMITTED CATEGORIES UNDER SECTIONS 551.071 THROUGH 551.076 AND SECTION 551.087 OF THE TEXAS GOVERNMENT CODE. CERTIFICATION I certify that the above notice was posted at the Town Hall of the Town of Westlake, 3 Village Circle, December 5, 2013, by 5:00 p.m. under the Open Meetings Act, Chapter 551 of the Texas Government Code. _____________________________________ Kelly Edwards, TRMC, Town Secretary If you plan to attend this public meeting and have a disability that requires special needs, please advise the Town Secretary 48 hours in advance at 817-490-5710 and reasonable accommodations will be made to assist you. Ca n c e l e d lac k of qu o r u m Town of Westlake Item # 2 – Pledge of Allegiance Texas Pledge: "Honor the Texas flag; I pledge allegiance to thee, Texas, one state under God, one and indivisible." Ca n c e l e d lac k of qu o r u m CONSENT AGENDA: All items listed below are considered routine by the Town Council and will be enacted with one motion. There will be no separate discussion of items unless a Council Member or citizen so requests, in which event the item will be removed from the general order of business and considered in its normal sequence. a. Consider approval of the minutes from the November 11, 2013, meeting. b. Consider approval of Resolution 13-38, Adopting the 2014 Town Council and Board of Trustees meeting calendar. Town of Westlake Item # 3 – Review of Consent Agenda Items Ca n c e l e d lac k of qu o r u m DISCUSSION ITEMS a. Standing Item: Update and discussion regarding Westlake Academy Phase I expansion project and enrollment projections. (15 min0 b. Discussion of the Process for Establishing a Public Improvement District (PID) for the Entrada Development, the Petition Submitted to Establish a PID for Entrada, and a Draft Service Assessment Plan for Same. (30 min) c. Discussion regarding the proposed 2014 Town Council and Board of Trustees meeting calendar. (10 min) Town of Westlake Item # 4 – Discussion Items Ca n c e l e d lac k of qu o r u m Standing agenda item during the construction project d. Update and discussion regarding Westlake Academy Phase I expansion project and enrollment projections. (10 min) Town of Westlake Item # 4d – No Supporting documentation Ca n c e l e d lac k of qu o r u m Page 1 of 2 estlake Town Council TYPE OF ACTION Workshop - Discussion Item Westlake Town Council Meeting Monday, December 9, 2013 TOPIC: Discussion of the Process for Establishing a Public Improvement District (PID) for the Entrada Development , the Petition Submitted to Establish a PID for Entrada, and a Draft Service Assessment Plan for Same. STAFF CONTACTS: Tom Brymer, Town Manager DECISION POINTS Start Date Completion Date Timeframe: October 28, 2013 TBD Funding: Amount - None. Status- N/A Source- N/A Decision Alignment VVM Perspective Desired Outcome Sense of Place Financial Stewardship Enhance and Maintain a Sense of Community Strategic Issue Outcome Strategy Staff Action Comprehensive Planning and Management of Natural Resources N/A SA 09D1: Ordinances Strategy Map or VVM Connection Strategic Issue Connection EXECUTIVE SUMMARY The owner of the development known as Entrada, located at the northeast corner of FM 1938 Ca n c e l e d lac k of qu o r u m Page 2 of 2 (Davis Blvd) and Solana Boulevard, has submitted a petition to the Town of Westlake to establish a Public Improvement District (PID) for construction of public infrastructure in this development. Next steps would include discussion of a proposed Service and Assessment Plan (SAP) for this PID as well as a timeline for establishing the PID. ORGANIZATIONAL HISTORY/RECOMMENDATION Previously this property was zoned for office and retail uses. In April of this year, after much public input and meetings, the Town Council, with a unanimous recommendation from the Planning & Zoning Commission, approved a request by the owner to amend the zoning in this PD1-2 zoning district . Also in April of this year, prior to consideration of this zoning change request, the land use plan component of the Town’s Comprehensive Plan was amended to provide for the uses requested in the zoning change request for this property. The amended zoning adds certain residential and entertainment uses in order to allow development of a mixed use Planned Development on this tract. The zoning ordinance, as amended, is intended to achieve a design that emulates a European style village with a Spanish architectural theme. The development’s name is Entrada. During the re-zoning approval process it was pointed out by Staff, as well as discussed by Council, that if the zoning request was approved, the developer intended to submit to the Town a petition to create a Public Improvement District (PID) to fund the construction of the public infrastructure for this development. Further, in the Economic Development with the developer of Entrada, the Town agreed to consider creating a PID for this purpose. This Economic Development Agreement also was approved by the Town Council in April of this year. This agenda item is intended to continue discussion begun at the Council’s October 28, 2013 Workshop and the Council’s November 11, 2013 Workshop regarding this proposed PID. The Staff has been reviewing various iterations of a draft Service and Assessment Plan (SAP) since the petition to establish this PID was submitted by the owner of this tract. If the Council wishes to move forward on establishing this PID, a specific timeline for establishing the PID will need to be set for this as well. With the Development Plan and Preliminary Plat for Entrada now approved by the Town Council, the developer is ready to move forward on establishment of a PID for this property. ATTACHMENTS 1. Proposed Calendar for PID Establishment in Westlake on the Entrada Property. 2. PID Petition 10 -18-13 for Entrada property. 3. Latest Draft of Service and Assessment Plan (SAP) for Westlake PID. Ca n c e l e d lac k of qu o r u m November 22, 2013 SMTWThFSSMTWThFSSMTWThFS 12341 12345675678910112345678 891011121314121314151617189101112131415 151617181920211920212223242516171819202122 22232425262728262728293031232425262728 293031 SMTWThFSSMTWThFS 112345 23456786789101112 910111213141513141516171819 1617181920212220212223242526 2324252627282927282930 3031 Date:Action: ●Delivery of Draft Service & Assessment Plan ("SAP") to the Town ●Informational Presentation to Town Council on Westlake Public Improvement District ("PID") Proposal ●Town Council Resolution Requiring Newspaper Notice and Mail Notice for PID Creation Hearing, and setting PID Creation Hearing Date ●Town Council Hearing on PID Creation ●Town Council Adoption of Resolution creating PID ●Town Council Adoption of Resolution determining Cost of Authorized Improvements, Setting Levy and Assessment Hearing Date ●Town Council Adopts Levy and Assessment Ordinance, including Final SAP (subject to Bond Sale) ●Town Council Approves Distribution of Preliminary Official Statement ("POS") ●Pricing of the Bonds ●Special Town Council meeting to approve PID Bond Pricing, Levy of Special Assessments and Final Bond Documents ●Close of Financing *Holiday; market closed *Town Council Meeting Financing Schedule Phase 1 Improvement Area Bonds, Series 2014 Solana Public Improvement District Town of Westlake, Texas April 17, 2014 April 2, 2014 January-14 February-14December-13 March 24, 2014 February 24, 2014 April 3, 2014 December 2, 2013 December 9, 2013 January 27, 2014 March-14 April-14 Page 1 Ca n c e l e d lac k of qu o r u m Canceled lack of quorum Canceled lack of quorum Canceled lack of quorum Canceled lack of quorum Canceled lack of quorum Draft MuniCap v1.0 WESTLAKE PUBLIC IMPROVEMENT DISTRICT NO. 1 SERVICE AND ASSESSMENT PLAN NOVEMBER 26, 2013 Ca n c e l e d lac k of qu o r u m MuniCap v2.3 WESTLAKE PUBLIC IMPROVEMENT DISTRICT NO. 1 SERVICE AND ASSESSMENT PLAN Table of Contents Section I Plan Description and Defined Terms 1 Section II Property Included in the PID 5 Section III Description of Authorized Improvements 6 Section IV Service Plan 9 Section V Assessment Plan 11 Section VI Terms of the Assessments 16 Section VII Assessment Roll 20 Section VIII Miscellaneous Provisions 21 List of Appendix Appendix A The PID Map Appendix B Estimated Costs of the Authorized Improvements Appendix C Diagrams of the Authorized Improvements Appendix D Land Use Class and Equivalent Units Appendix E Assessment Roll Ca n c e l e d lac k of qu o r u m 1 Section I PLAN DESCRIPTION AND DEFINED TERMS A. Introduction On ____________, (the “Creation Date”) the Town of Westlake Town Council passed and approved Resolution No. _____________ approving and authorizing the creation of the Westlake Public Improvement District No. 1 (the “PID”) to finance the costs of certain public improvements for the benefit of property in the PID, all of which is located within the boundary of the Town of Westlake. Upon application of the current property owners, the property within the PID was zoned by Ordinance No. 703 (the “Zoning Ordinance”) adopted by the Town on April 22, 2013, as amended and including all required approvals. The Zoning Ordinance designates the type of land uses that are permitted within the project and include development standards for each land use type. Chapter 372 of the Texas Local Government Code, “the Public Improvement Assessment Act” (as amended, the “PID Act”), governs the creation and operation of public improvement districts within the State of Texas. This Service and Assessment Plan has been prepared pursuant to the PID Act and specifically Sections 372.013, 372.014, 372.015 and 372.016, which address the requirements of a service and assessment plan and the assessment roll. According to Section 372.013 of the PID Act, a service plan “must cover a period of at least five years and must also define the annual indebtedness and the projected costs for improvements. The plan shall be reviewed and updated annually for the purpose of determining the annual budget for improvements.” The service plan is described in Section IV of this Service and Assessment Plan. Section 372.014 of the PID Act states that “an assessment plan must be included in the annual service plan.” The assessment plan is described in Section V of this Service and Assessment Plan. Section 372.015 of the PID Act states that “the governing body of the municipality or county shall apportion the cost of an improvement to be assessed against property in an improvement district.” The method of assessing the PID Costs and apportionment of such costs to the property in the PID is included in Section V of this Service and Assessment Plan. Section 372.016 of the PID Act states that “after the total cost of an improvement is determined, the governing body of the municipality or county shall prepare a proposed assessment roll. The roll must state the assessment against each parcel of land in the district, as determined by the method of assessment chosen by the municipality or county under this subchapter.” The Assessment Roll for the PID is included as Appendix E of this Service and Assessment Plan. The Assessments as shown on the Assessment Roll are based on the method of assessment and apportionment of costs described in Section V of this Service and Assessment Plan. B. Definitions Capitalized terms used herein shall have the meanings ascribed to them as follows: Ca n c e l e d lac k of qu o r u m 2 “Actual Cost(s)” means, with respect to an Authorized Improvement, the demonstrated, reasonable, allocable, and allowable costs of constructing such Authorized Improvement, as specified in a Certification for Payment that has been reviewed and approved by the Town. Actual Cost may include (a) the costs for the design, planning, financing, administration, management, acquisition, installation, construction and/or implementation of such Authorized Improvement, including general contractor construction management fees, if any, (b) the costs of preparing the construction plans for such Authorized Improvement, (c) the fees paid for obtaining permits, licenses or other governmental approvals for such Authorized Improvement, (d) the costs for external professional costs associated with such Authorized Improvement, such as engineering, geotechnical, surveying, land planning, architectural landscapers, advertising, marketing and research studies, appraisals, legal, accounting and similar professional services, taxes (property and franchise) (e) the costs of all labor, bonds and materials, including equipment and fixtures, incurred by contractors, builders and material men in connection with the acquisition, construction or implementation of the Authorized Improvements, (f) all related permitting, zoning and public approval expenses, architectural, engineering, legal, and consulting fees, financing charges, taxes, governmental fees and charges (including inspection fees, County permit fees, development fees), insurance premiums, miscellaneous expenses, and all advances and payments for Administrative Expenses. Actual Costs include general contractor’s fees in an amount up to a percentage equal to the percentage of work completed and accepted by the City or construction management fees in an amount up to five percent of the eligible Actual Costs described in a Certification for Payment. The amounts expended on legal costs, taxes, governmental fees, insurance premiums, permits, financing costs, and appraisals shall be excluded from the base upon which the general contractor and construction management fees are calculated. Actual Costs also may be paid to the Developer or any other person or entity only in the capacity of construction manager or only in the capacity of general contractor but not both. “Administrator” means the employee or designee of the Town who shall have the responsibilities provided for herein, in the Trust Indenture related to a Bond issuance by the PID or in any other agreement approved by the Town Council. “Administrative Expenses” mean the administrative, organization, maintenance and operation costs associated with, or incident to, the administration, organization, maintenance and operation of the PID, including, but not limited to, the costs of: (i) creating and organizing the PID, including conducting hearings, preparing notices and petitions, and all costs incident thereto, including engineering fees, legal fees and consultant fees, (ii) the annual administrative, organization, maintenance, and operation costs and expenses associated with, or incident and allocable to, the administration, organization, and operation of the PID, (iii) computing, levying, billing and collecting Assessments or the installments thereof, (iv) maintaining the record of installments of the Assessments and the system of registration and transfer of the Bonds, (v) paying and redeeming the Bonds, (vi) investing or depositing of monies, (vii) complying with the PID Act and codes with respect to the Bonds, (viii) the Trustee fees and expenses relating to the Bonds, including reasonable fees, (ix) legal counsel, engineers, accountants, financial advisors, investment bankers or other consultants and advisors, and (x) administering the construction of the Authorized Improvements. Administrative Expenses do not include payment of the actual principal of, redemption premium, if any, and interest on the Bonds. Administrative Expenses collected and not expended for actual Administrative Expenses shall be carried forward and Ca n c e l e d lac k of qu o r u m 3 applied to reduce Administrative Expenses in subsequent years to avoid the over-collection of Administrative Expenses. “Annual Installment” means, with respect to each Parcel, each annual payment of: (i) the Assessment, as shown on the Assessment Roll attached hereto as Appendix E, as applicable, or in an Annual Service Plan Update, and calculated as provided in Section VI of this Service and Assessment Plan, (ii) Administrative Expenses, (iii) the prepayment reserve described in Section IV of this Service and Assessment Plan, and (iv) the delinquency reserve as described in Section IV of this Service and Assessment Plan. “Annual Service Plan Update” has the meaning set forth in the first paragraph of Section IV of this Service and Assessment Plan. “Assessed Property” means the property that benefits from the Authorized Improvements to be provided by the PID on which Assessments have been imposed as shown in the Assessment Roll, as the Assessment Roll is updated each year by the Annual Service Plan Update. Assessed Property includes Parcels within the PID other than Non-Benefited Property. “Assessment” means the assessment levied against Parcels within the PID imposed pursuant to the Assessment Ordinance and the provisions herein as shown on the Assessment Roll, subject to reallocation upon the subdivision of such Parcel or reduction according to the provisions herein and the PID Act. “Assessment Ordinance” means an Assessment Ordinance adopted by the Town Council approving the Service and Assessment Plan (including amendments or supplements to the Service and Assessment Plan) and levying the Assessments. “Assessment Revenues” mean the revenues actually received by the Town from Assessments. “Assessment Roll” means the Assessment Roll or any other Assessment Roll in an amendment or supplement to this Service and Assessment Plan or in an Annual Service Plan Update. “Authorized Improvements” mean those public improvements described in Appendix B of this Service and Assessment Plan and Section 372.003 of the PID Act, constructed and installed in accordance with this Service and Assessment Plan, and any future updates and/or amendments. “Authorized Improvement Costs” mean the actual or budgeted costs, as applicable, of all or any portion of the Authorized Improvements, as shown in Appendix B. “Bonds” mean any bonds issued by the City in one or more series and secured by the Assessment Revenues. “Certification for Payment” means the document to be provided by the Developer to substantiate the Actual Cost of one or more Authorized Improvements. “Delinquent Collection Costs” mean interest, penalties and expenses incurred or imposed with respect to any delinquent installment of an Assessment in accordance with the PID Act and the Ca n c e l e d lac k of qu o r u m 4 costs related to pursuing collection of a delinquent Assessment and foreclosing the lien against the Assessed Property, including attorney’s fees. “Developer” means Maguire Partners – Solana Land, L.P. “Equivalent Units” mean, as to any Parcel the number of dwelling units by Land Use Class or non-residential development by type expected to be built on the Parcel multiplied by the factors calculated and shown in Appendix D attached hereto. “Land Use Class” means a classification of property with similar characteristics regarding the intended use of the property (e.g. residential, retail, office, hotel etc.), as allowed by the Zoning Ordinance. “Lot” means a tract of land described as a “lot” in a subdivision plat recorded in the official public records of Tarrant County, Texas. “Non-Benefited Property” means Parcels within the boundaries of the PID that accrue no special benefit from the Authorized Improvements, including Property Owner Association Property, public property and easements that create an exclusive use for a public utility provider. Property identified as Non-Benefited Property at the time the Assessments (i) are imposed or (ii) are reallocated pursuant to a subdivision of a Parcel, is not assessed. Assessed Property converted to Non-Benefited Property, if the Assessments may not be reallocated pursuant to the provisions herein, remains subject to the Assessments and requires the Assessments to be prepaid as provided for in Section VI. C. 2. “Parcel” or “Parcels” means a parcel or parcels within the PID identified by either a tax map identification number assigned by the Denton Central Appraisal District for real property tax purposes or by lot and block number in a final subdivision plat recorded in the real property records of Denton County. “PID” has the meaning set forth in Section I.A of this Service and Assessment Plan. “PID Act” means Texas Local Government Code Chapter 372, Public Improvement Assessment Act, Subchapter A, Public Improvement Districts, as amended. “Prepayment Costs” mean interest and expenses to the date of prepayment, plus any additional expenses related to the prepayment, reasonably expected to be incurred by or imposed upon the Town as a result of any prepayment of an Assessment. “Property Owner Association Property” means property within the boundaries of the PID that is owned by or dedicated to, whether in fee simple or through an exclusive use easement, a property owners’ association. All Property Owner Association Property will be identified on approved plats. “Public Property” means property within the boundaries of the PID that is owned by or irrevocably offered for dedication to the federal government, the State of Texas, Denton County, the Town, a school district or any other public agency, whether in fee simple or through an exclusive use easement. Ca n c e l e d lac k of qu o r u m 5 “Service and Assessment Plan” means this Service and Assessment Plan prepared for the PID pursuant to the PID Act, as the same may be amended from time to time. “Town” means the Town of Westlake, Texas. “Town Council” means the duly elected governing body of the Town. “Trust Indenture” means the indenture, ordinance or similar document setting forth the terms and other provisions relating to the Bonds, as modified, amended, and/or supplemented from time to time. “Trustee” means the fiscal agent or trustee as specified in the Trust Indenture, including a substitute fiscal agent or trustee. “Zoning Ordinance” has the meaning set forth in Section I.A of this Service and Assessment Plan. Ca n c e l e d lac k of qu o r u m 6 Section II PROPERTY INCLUDED IN THE PID Property Included in the PID The PID is presently located within the Town of Westlake, Texas and contains approximately 85 acres of land. The owner of the property intends to request annexation of the property into the Town limits. A map of the property within the PID is shown on Appendix A to this Service and Assessment Plan. At completion, the PID is expected to consist of approximately 322 residential units, approximately 1,235,599 square feet of non-residential development, landscaping, and infrastructure necessary to provide roadways, drainage, and utilities to the PID. The estimated number of lots and the classification of each lot are based upon the Zoning Ordinance. The property within the PID is proposed to be developed as follows: Table II-A Proposed Development Type Planned No. of Units Unit of Measure Residential Residential – Non-waterside Condo I 22 Units Residential - Waterside Villa - Detached 24 Units Residential - Waterside Condo 86 Units Residential – Hillside Villa 110 Units Residential - Non-waterside Condo II 24 Units Residential - Waterside Villa - Attached 56 Units Subtotal - Residential 322 Units Non-residential Hotel 322,100 Sq. Ft Retail 151,599 Sq. Ft Waterfront Retail 102,000 Sq. Ft Convalescence 231,600 Sq. Ft Office 428,300 Sq. Ft Subtotal – Non-residential 1,235,599 Sq. Ft The current Parcels in the PID are shown on the Assessment Roll included as Appendix E and the map included as Appendix A. The estimated number of units at the build-out of the PID is based on the land use approvals for the property, the anticipated subdivision of property in the PID, and the Developer’s estimate of the highest and best use of the property within the PID subject to the land use approvals. Ca n c e l e d lac k of qu o r u m 7 Section III DESCRIPTION OF THE AUTHORIZED IMPROVEMENTS A. Authorized Improvement Overview Section 372.003 of the PID Act defines the improvements that may be undertaken by a municipality or county through the establishment of a public improvement district, as follows: 372.003. Authorized Improvements (a) If the governing body of a municipality or county finds that it promotes the interests of the municipality or county, the governing body may undertake an improvement project that confers a special benefit on a definable part of the municipality or county or the municipality’s extraterritorial jurisdiction. A project may be undertaken in the municipality or county or the municipality’s extraterritorial jurisdiction. (b) A public improvement may include, among others: (i) landscaping; (ii) erection of fountains, distinctive lighting, and signs; (iii) acquiring, constructing, improving, widening, narrowing, closing, or rerouting of sidewalks or of streets, any other roadways, or their rights-of way; (iv) construction or improvement of pedestrian malls; (v) acquisition and installation of pieces of art; (vi) acquisition, construction, or improvement of libraries; (vii) acquisition, construction, or improvement of off-street parking facilities; (viii) acquisition, construction, or improvement of water, wastewater, or drainage facilities or improvements; (ix) the establishment or improvement of parks; (x) projects similar to those listed in Subdivisions (i)-(x); (xi) acquisition, by purchase or otherwise, of real property in connection with an authorized improvement; (xii) special supplemental services for improvement and promotion of the district, including services relating to advertising, promotion, health and sanitation, water and wastewater, public safety, security, business recruitment, development, recreation, and cultural enhancement; and (xiii) payment of expenses incurred in the establishment, administration and operation of the district. Ca n c e l e d lac k of qu o r u m 8 After analyzing the public improvement projects authorized by the PID Act, the Town has determined that the Authorized Improvements as described in Appendix B and shown on the diagram included as Appendix C should be undertaken by the Town for the benefit of the property within the PID. B. Description of the Authorized Improvements The Authorized Improvements benefit the entire PID. The costs of the Authorized Improvements are allocated proportionally throughout the entire PID, excluding Non-benefited Property, in a manner that anticipates planned development of the PID based on the Equivalent Units as calculated and shown in Appendix D using the planned Land Use Class and anticipated number of units. The Authorized Improvements are described below. The costs of the Authorized Improvements are shown in Table III-A. The costs shown in Table III-A are estimates and may be revised in Annual Service Plan Updates, including such other improvements as deemed necessary to further improve the properties within the PID. The Authorized Improvements include roadway improvements, water distribution system improvements, storm sewer collection system improvements, wastewater collection system improvements and landscaping & public park improvements. Road Improvements The roadway improvements include approximately 49,116 SY 6-inch reinforced concrete pavement, 34,506 SY 8-inch reinforced concrete pavements, 89,500 SY 8-inch treated subgrade compacted 95% SPD, striping, street signage and signals, turn lanes and bridges. A detailed description of the roadway improvements and the related costs are provided in the engineering cost estimates included as Appendix B. All roadway improvements will be constructed according to the Town requirements. See Table III-A for cost details. Water Distribution System Improvements The water distribution system improvements consist of approximately 15,640 linear feet of 12- inch water lines, approximately 6,149 linear feet of 8-inch water lines, fire hydrants and trench safety. A detailed description of the water distribution system improvements and the related costs are provided in the engineering cost estimates included as Appendix B. All water distribution system improvements will be constructed according to the Town requirements. See Table III-A for cost details. Sanitary Sewer Improvements The sanitary sewer collection system improvements consist of approximately 14,554 linear feet of 8-inch PVC including sewer laterals, manholes and trench safety. A detailed description of the sanitary sewer collection system improvements and the related costs are provided in the engineering cost estimates included as Appendix B. All sanitary sewer collection system improvements will be constructed according to the Town requirements. See Table III-A for cost details. Ca n c e l e d lac k of qu o r u m 9 Storm Drainage Improvements The storm sewer collection system improvements consist of approximately 6,014 linear feet of various sized RCP pipes, manholes, junction boxes, inlets, headwalls and trench safety. A detailed description of the storm sewer collection system improvements and the related costs are provided in the engineering cost estimates included as Appendix B. All storm sewer collection system improvements will be constructed according to the Town requirements. See Table III-A for cost details. Landscaping The landscaping and public park improvements include the creation of a 12-acre central lake, planting vineyards, trees, rubble stone walls and pathways on approximately 9 acres of the perimeter of the development, the installation of over 2 ½ miles of 8-12’ wide concrete paths with seating areas, and public lighting details including bollards, gathering area lighting and street lighting. See Table III-A for cost details. The water and sanitary sewer improvements listed above help create the grid for the water line system and the sanitary sewer collection system for the property. In addition, the storm sewer improvements allows for the runoff created in each parcel and block area to get to the large central lake, which also serves as storm water detention for the entire site. The paving improvements create the traffic circulation patterns within the property, allowing access to and from the adjacent roadways to each interior parcel and block area. Table III-A Estimated Authorized Improvement Costs Authorized Improvements Total Estimated the PID Costs Road improvements $6,264,218 Water distribution system improvements $1,046,349 Sanitary sewer collection system improvements $2,403,311 Storm sewer collection system improvements $4,374,543 Landscaping improvements $3,271,500 Inspection and performance bonds $1,191,960 Engineering, surveying and construction administration $2,543,938 Contingency $1,817,099 Total – Estimated Authorized Improvement Costs $22,912,917 The costs shown in Table III-A are current estimates and may be revised in Annual Service Plan Updates. The detailed costs of the Authorized Improvements are shown in Appendix B to this Service and Assessment Plan. Savings from one line item may be applied to a cost increase in another line item. These savings may be applied only to increases in costs of the Authorized Improvements (i.e., the improvements for the benefit of property within the PID). Ca n c e l e d lac k of qu o r u m 10 Section IV SERVICE PLAN A. Sources and Uses of Funds The PID Act requires the service plan to cover a period of at least five years. The service plan is required to define the annual projected costs and indebtedness for the Authorized Improvements undertaken within the PID during the five year period. It is anticipated that it will take approximately 24 months for the Authorized Improvements to be constructed. The estimated Authorized Improvement Costs including costs related to the issuance of the Bonds and payment of expenses incurred in the establishment, administration and operation of the PID is $28,600,000 as shown in Table IV-A. The service plan shall be reviewed and updated at least annually for the purpose of determining the annual budget for Administrative Expenses, updating the estimated Authorized Improvement costs, and updating the Assessment Roll. Any update to this Service and Assessment Plan is herein referred as an “Annual Service Plan Update.” Table IV-A summarizes the sources and uses of funds required to construct the Authorized Improvements, establish the PID, and issue the Bonds. The sources and uses of funds shown in Table V-A shall be updated each year in the Annual Service Plan Update to reflect any budget revisions and Actual Costs. Bonds are expected to be issued starting 2014. Table IV-A shows the sources and uses of the Bonds. Ca n c e l e d lac k of qu o r u m 11 Table IV-A Estimated Sources and Uses Sources of Funds Total Estimated Bond par amount $28,600,000 Developer Funds $2,200,375 Total Sources $30,800,375 Uses of Funds Authorized Improvements Road improvements $6,264,218 Water distribution system improvements $1,046,349 Sanitary sewer improvements $2,403,311 Storm drainage improvements $4,374,543 Landscaping improvements $3,271,500 Inspection and performance bonds $1,191,960 Engineering, surveying and construction administration $2,543,938 Contingency $1,817,099 Subtotal $22,912,917 Bond issue costs Capitalized interest $3,080,458 Debt service reserve $2,860,000 Other Bond issuance related costs $1,947,000 Subtotal $7,887,458 Total Uses $30,800,375 The Bonds in Table IV-A are anticipated to be issued starting 2014. The annual projected costs and annual projected indebtedness is shown by Table IV-B. The annual projected costs and indebtedness are subject to revision and each shall be updated in the Annual Service Plan Update to reflect any changes in the costs or indebtedness expected for each year. Ca n c e l e d lac k of qu o r u m 12 Table IV-B Annual Projected Costs and Annual Projected Indebtedness Year Annual Projected Cost Annual Projected Indebtedness Sources other than PID Bonds 2014 $30,800,375$28,600,000$2,200,375 2015 $0 $0 $0 2016 $0 $0 $0 2017 $0 $0 $0 2018 $0 $0 $0 $30,800,375$28,600,000$2,200,375 The annual projected costs shown in Table V-B are the annual expenditures relating to the Authorized Improvement Costs shown in Table III-A and the costs associated with setting up the PID and Bond issuance costs including reserves shown in Table V-A. The difference between the total projected cost and the total projected indebtedness is the amount contributed by the Developer. Ca n c e l e d lac k of qu o r u m 13 Section V ASSESSMENT PLAN A. Introduction The PID Act requires the Town Council to apportion the PID Costs on the basis of special benefits conferred upon the property because of the Authorized Improvements. The PID Act provides that the PID Costs may be assessed: (i) equally per front foot or square foot; (ii) according to the value of the property as determined by the governing body, with or without regard to improvements on the property; or (iii) in any other manner that results in imposing equal shares of the cost on property similarly benefited. The PID Act further provides that the governing body may establish by ordinance or order reasonable classifications and formulas for the apportionment of the cost between the municipality and the area to be assessed and the methods of assessing the special benefits for various classes of improvements. For purposes of this Service and Assessment Plan, the Town Council has determined that the Authorized Improvement Costs shall be allocated to the Assessed Property as described below: 1. The Authorized Improvement Costs shall be allocated to the Assessed Property on the basis of the relative value of Parcels once such property is developed, and that such method of allocation will result in the imposition of equal shares of the Authorized Improvement Costs to Parcels similarly benefited. 2. The Town Council has concluded that larger more expensive homes are likely to be built on the larger lots, and that larger more expensive homes are likely to make greater use of and receive greater benefit from the Authorized Improvements. In determining the relative values of Parcels, the Town Council has taken in to consideration (i) the type of development (i.e., residential, commercial, etc), (ii) single-family lot sizes and the size of homes likely to be built on lots of different sizes, (iii) current and projected home process provided by the Developer, (iv) the Authorized Improvements to be provided and the estimated costs, and (v) the ability of different property types to utilize and benefit from the improvements. 3. The Assessed Property is classified into different Land Use Classes as described in Appendix D based on the type and size of proposed development on each Parcel. 4. Equivalent Units are calculated for each Land Use Class based on the relative value of each Land Use Class. 5. The Authorized Improvement Costs that benefit the Assessed Property are proportionally allocated to the Assessed Property based on the total Equivalent Units estimated for each Parcel of Assessed Property. Table V-A provides the estimated allocation of costs of the Authorized Improvements. This section of this Service and Assessment Plan currently describes the special benefit received by each Parcel within the PID as a result of the Authorized Improvements, provides the basis and justification for the determination that this special benefit exceeds the amount of the Assessments, and establishes the methodologies by which the Town Council allocates and reallocates the special benefit of the Authorized Improvements to Parcels in a manner that results in equal shares of the Actual Costs being apportioned to Parcels similarly benefited. The determination by the Town Council of the assessment methodologies set forth below is the result Ca n c e l e d lac k of qu o r u m 14 of the discretionary exercise by the Town Council of its legislative authority and governmental powers and is conclusive and binding on the Developer and all future owners and developers of the Assessed Property. B. Special Benefit Assessed Property must receive a direct and special benefit from the Authorized Improvements, and this benefit must be equal to or greater than the amount of the Assessments. The Authorized Improvements are provided specifically for the benefit of the Assessed Property. The Authorized Improvements (more particularly described in line-item format in Appendix B to this Service and Assessment Plan) and the costs of issuance and payment of costs incurred in the establishment of the PID shown in Table IV-A are authorized by the Act. These improvements are provided specifically for the benefit of the Assessed Property. Each owner of the Assessed Property has acknowledged that the Authorized Improvements confer a special benefit on the Assessed Property and has consented to the imposition of the Assessments to pay for the Actual Costs associated therewith. Each of the owners is acting in its interest in consenting to this apportionment and levying of the Assessments because the special benefit conferred upon the Assessed Property by the Authorized Improvements exceeds the amount of the Assessments. The public improvements provide a special benefit to the Assessed Property as a result of the close proximity of these improvements to the Assessed Property and the specific purpose of these improvements of providing infrastructure for the Assessed Property. In other words, the Assessed Property could not be used in the manner proposed without the construction of the Authorized Improvements. The Authorized Improvements are being provided specifically to meet the needs of the Assessed Property as required for the proposed use of the property. The Assessments are being levied to provide the Authorized Improvements that are required for the highest and best use of the Assessed Property (i.e., the use of the property that is most valuable, including any costs associated with that use). Highest and best use can be defined as “the reasonably probable and legal use of property, which is physically possible, appropriately supported, financially feasible, and that results in the highest value.” (Dictionary of Real Estate Appraisal, Third Edition.) The Authorized Improvements are expected to be required for the proposed use of the Assessed Property to be physically possible, appropriately supported, financially feasible, and maximally productive. The Developer has evaluated the potential use of the property and has determined that the highest and best use of the property is the use intended and the legal use for the property as described in Section II of this Service and Assessment Plan. The use of the Assessed Property as described herein will require the construction of the Authorized Improvements. The special assessments will repay financing that is on advantageous terms, as the Bonds issued to finance the public improvements will pay interest that is exempt from federal income tax. As a result, all other terms being equal (e.g., maturity, fixed vs. variable rate, credit quality), the tax- exempt bonds will have a lower interest rate than debt that is not tax-exempt. The bonds also have a longer term than other available financings and may either be repaid or assumed by a Ca n c e l e d lac k of qu o r u m 15 buyer at the buyer’s option. As a result of these advantageous terms, the financing provided by the PID is the most beneficial means of financing the Authorized Improvements. Pursuant to the Landowner’s Agreement, each owner of the Assessed Property has ratified, confirmed, accepted, agreed to and approved; (i) the determinations and finding by the Town Council as to the special benefits described in this Service and Assessment Plan and the Assessment Ordinance; (ii) the Service and Assessment Plan and the Assessment Ordinance, and (iii) the levying of Assessments on the Assessed Property. Use of the Assessed Property as described in this Service and Assessment Plan and as authorized by the Zoning Ordinance requires that Authorized Improvements be acquired, constructed, installed, and/or improved. Funding the Actual Costs through the PID has been determined by the Town Council to be the most beneficial means of doing so. As a result, the Assessments result in a special benefit to the Assessed Property, and this special benefit exceeds the amount of the Assessment. This conclusion is based on and supported by the evidence, information, and testimony provided to the Town Council. In summary, the Assessments result in a special benefit to the Assessed Property for the following reasons: 1. The Authorized Improvements are being provided specifically for the use of the Assessed Property, are necessary for the proposed best use of the property and provide a special benefit to the Assessed Property as a result; 2. The Developer has consented to the imposition of the Assessments for the purpose of providing the Authorized Improvements and the Developer is acting in its interest by consenting to this imposition; 3. The Authorized Improvements are required for the highest and best use of the property; 4. The highest and best use of the Assessed Property is the use of the Assessed Property that is most valuable (including any costs associated with the use of the Assessed Property); 5. Financing of the PID Costs by the PID is determined to be the most beneficial means of providing for the Authorized Improvements; and, 6. As a result, the special benefits to the Assessed Property from the Authorized Improvements will be equal to or greater than the Assessments. C. Assessment Methodology The Actual Costs may be assessed by the Town Council against the Assessed Property so long as the special benefit conferred upon the Assessed Property by the Authorized Improvements equals or exceeds the Assessments. The Actual Costs may be assessed using any methodology that results in the imposition of equal shares of the Actual Costs on Assessed Property similarly benefited. Ca n c e l e d lac k of qu o r u m 16 For purpose of this Service and Assessment Plan, the Town Council has determined that the Actual Costs of the Authorized Improvements to be financed with the Bonds shall be allocated to the Assessed Property by spreading the entire Assessment across the Parcels based on the estimated Equivalent Units as calculated and shown in Appendix D using the types and number of lots anticipated to be developed on each Parcel of the 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 the Authorized Improvements that benefit the Assessed Property, as provided by G&A Consultants, LLC., and set forth in Table III-A, the Town Council has determined that the benefit to Assessed Property is at least equal to the Assessments levied on the Assessed Property. Upon subsequent divisions of any Parcel, the Assessment applicable to it will then be apportioned pro rata based on the Equivalent Units of each newly created Parcel. For residential Lots, when final residential building sites are platted, Assessments 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, with larger, more valuable Lots having a proportionately larger share of the Assessments than smaller, less valuable Lots. 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. The Assessment and Annual Installments for each Parcel or Lot of Assessed Property is shown on the Assessment Roll, attached as Appendix E, and no Assessment shall be changed except as authorized by this Service and Assessment Plan or the PID Act. As shown in Section IV of this Service and Assessment Plan, the total amount of the Bonds, which represents the total Assessment to be allocated on all Parcels within the PID, is $28,600,000. As shown in Appendix D, there are a total of 433.60 estimated Equivalent Units in the PID, resulting in an Assessment per Equivalent Unit of $65,956.09 ($28,650,000 ÷ 433.62 = $65,956.09). The Assessment per dwelling unit or acre is calculated as the product of (i) $65,956.09 multiplied by (ii) the applicable Equivalent Unit value for each Land Use Class. For example, the Assessment for a Land Use Class 1 (Condo – Non-waterside 1) dwelling unit is $65,956.09 (i.e. $65,956.09 × 1.00). Land Use Class 1 (Villa – Waterside Detached) dwelling unit is $54,743.56 (i.e. $65,956.09 × 0.83). Table E-2 sets forth the Assessment per dwelling unit for each of the Land Use Classes in the PID. Ca n c e l e d lac k of qu o r u m 17 Table V-1 Assessment per Unit Type Planned No. of Units Assessment per Equivalent Unit Equivalent Unit Factor Assessment per Unit Total Assessments Residential Land Use Class 1 22 $65,956.091.00 $65,956.09 per dwelling unit $1,451,034 Land Use Class 2 26 $65,956.090.83 $54,743.56 per dwelling unit $1,423,332 Land Use Class 3 86 $65,956.090.74 $48,807.51 per dwelling unit $4,197,446 Land Use Class 4 110 $65,956.090.62 $40,892.78 per dwelling unit $4,498,205 Land Use Class 5 24 $65,956.090.60 $39,573.66 per dwelling unit $949,768 Land Use Class 6 54 $65,956.090.47 $30,999.36 per dwelling unit $1,673,966 Land Use Class 7 322.10 $65,956.090.21 $13,850.78 per 1,000 Sq. Ft $4,461,336 Land Use Class 8 151.60 $65,956.090.19 $12,531.66 per 1,000 Sq. Ft $1,899,787 Land Use Class 9 102.00 $65,956.090.18 $11,872.10 per 1,000 Sq. Ft $1,210,954 Land Use Class 10 231.60 $65,956.090.17 $11,212.54 per 1,000 Sq. Ft $2,596,823 Land Use Class 11 428.30 $65,956.090.15 $9,893.41 per 1,000 Sq. Ft $4,237,349 Total $28,600,000 D. Assessments The Assessments for the Bonds will be levied on each Parcel according to the Assessment Roll, attached hereto as Appendix E. The Annual Installments for the Bonds will be collected at the time and in the amounts shown on the Assessment Roll, subject to any revisions made during an Annual Service Plan Update. E. 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 Assessment levied against the Parcel. The Administrative Expenses shall be collected as part of and in the same manner as Annual Installments in the amounts shown on the Assessment Roll, which may be revised based on actual costs incurred in Annual Service Plan Updates. G. Prepayment Reserve Pursuant to the PID Act, the interest rate for Assessments may exceed the actual interest rate per annum paid on the related Bonds by no more than one half of one percent (0.50%). The interest rate used to determine the Assessments is one half of one percent (0.50%) per annum higher than the actual rate paid on the Bonds, with up to 0.20% allocated to fund the associated interest charged between the date of prepayment of an Assessment and the date on which Bonds are prepaid and up to 0.30% allocated to fund a delinquency reserve account as described below. The prepayment reserve shall be funded until it reaches __% of the outstanding Bonds as Ca n c e l e d lac k of qu o r u m 18 stipulated in the Bond documents. Once the prepayment reserve is funded in full, any additional interest collected shall be allocated to fund delinquent payments as described in H below. H. Delinquency Reserve The Town has allocated up to 0.30% of the interest rate component of the Annual Installments to offset any possible delinquent payments. The additional reserve shall be funded up to __% of the outstanding Bonds, but in no event will the annual collection, together with the Prepayment reserve, be more than 0.50% of the outstanding Bonds. The Town may allocate up to 0.50% of the interest rate component of the Annual Installments to pay for Administrative Expenses, improvement costs, any other use that benefits the Assessed Property or reduce the Assessments, as determined by the Town Council. Ca n c e l e d lac k of qu o r u m 19 Section VI TERMS OF THE ASSESSMENTS A. Amount of Assessments and Annual Installments The Assessment and Annual Installments for each Parcel of Assessed Property located within the PID is shown on the Assessment Roll, attached as Appendix E, and no Assessment shall be changed except as authorized by this Service and Assessment Plan and the PID Act. The Annual Installments shall be collected in an amount sufficient to pay principal and interest on the Bonds, to fund the prepayment reserve and delinquency reserve described in Section IV, to cover Administrative Expenses. B. Reallocation of Assessments 1. Subdivision Upon the subdivision of any Parcel, the Assessment for the Parcel prior to the subdivision shall be reallocated among the new subdivided Parcels according to the following formula: A = B x (C ÷ D) Where the terms have the following meanings: A = the Assessment for each new subdivided Parcel B = the Assessment for the Parcel prior to subdivision C = the estimated Equivalent Units to be built on each new subdivided Parcel D = the sum of the estimated Equivalent Units to be built on all of the new subdivided Parcels 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 estimate as confirmed shall be conclusive. The number of units to be built on a Parcel may be estimated by net land area and reasonable density ratios. The sum of the Assessments for all newly subdivided Parcels shall equal the Assessment for the Parcel prior to subdivision. The calculation shall be made separately for each newly subdivided Parcel. The reallocation of an Assessment for a Parcel that is a homestead under Texas law may not exceed the Assessment prior to the reallocation and to the extent the reallocation would exceed such amount, it shall be prepaid by such amount by the party requesting the subdivision of the Parcels. Any reallocation pursuant to this section shall be reflected in an Annual Service Plan Update approved by the Town Council. 2. Consolidation Upon the consolidation of two or more Parcels, the Assessment for the consolidated Parcel shall be the sum of the Assessments for the Parcels prior to consolidation. The reallocation of an Assessment for a Parcel that is a homestead under Texas law may not exceed the Assessment Ca n c e l e d lac k of qu o r u m 20 prior to the reallocation and to the extent the reallocation would exceed such amount, it shall be prepaid by such amount by the party requesting the consolidation of the Parcels. Any reallocation pursuant to this section shall be reflected in an Annual Service Plan Update approved by the Town Council. C. Mandatory Prepayment of Assessments 1. If a Parcel subject to Assessments is transferred to a party that is exempt from the payment of the Assessment under applicable law, or if an owner causes a Parcel subject to Assessments to become Non-Benefited Property, the owner of such Parcel shall pay to the Town the full amount of the Principal Portion of the Assessment on such Parcel, plus all Prepayment Costs, prior to any such transfer or act. 3. The payments required above shall be treated the same as any Assessment that is due and owing under the Act, the Assessment Ordinance, and this Service and Assessment Plan, including the same lien priority, penalties, procedures, and foreclosure specified by the Act. D. Reduction of Assessments 1. If after all Authorized Improvements to be funded with a series of Bonds have been completed and Actual Costs for such Authorized Improvements are less than the Actual Costs used to calculate the Assessments securing such series of Bonds, resulting in excess Bond proceeds being available to redeem Bonds of such series, then the Assessment securing such series of Bonds for each Parcel of Assessed Property shall be reduced by the Town Council pro rata such that the sum of the resulting reduced Assessments for all Assessed Properties equals the actual reduced Actual Costs and such excess Bond proceeds shall applied to redeem Bonds of such series. The Assessments shall not be reduced to an amount less than the related outstanding series of Bonds. If all of the Authorized Improvements are not completed, the Town may reduce the Assessments in another method if it determines such method would better reflect the benefit received by the Parcels from the Authorized Improvements completed. 2. If all the Authorized Improvements are not undertaken, resulting in excess Bond proceeds being available to redeem Bonds, then the Assessments and Annual Installments for each Parcel shall be appropriately reduced by the Town Council to reflect only the amounts required to repay the Bonds, including interest on the Bonds and Collection Costs, and such excess Bond proceeds shall be applied to redeem Bonds. The Town Council may reduce the Assessments and the Annual Installments for each Parcel (i) in an amount that represents the Authorized Improvements provided for each Parcel or (ii) by an equal percentage calculated based on Equivalent Units, if determined by the Town Council to be the most fair and practical means of reducing the Assessments for each Parcel, such that the sum of the resulting reduced Assessments equals the amount required to repay the Bonds, including interest on the Bonds and Collection Costs. The Principal Portion of the Assessment for each Parcel shall be reduced pro rata to the reduction in the Assessments for each Parcel such that the sum of the resulting reduced Principal Portion of the Bonds is equal to the outstanding principal amount of the Bonds. Ca n c e l e d lac k of qu o r u m 21 E. Payment of Assessments 1. Payment in Full (a) The Assessment for any Parcel may be paid in full at any time. Such payment shall include all Prepayment Costs. If prepayment in full will result in redemption of Bonds, the payment amount shall be reduced by the amount, if any, of interest through the date of redemption of Bonds and reserve funds applied to the redemption under the Trust Indenture, net of any other costs applicable to the redemption of Bonds. (b) If an Annual Installment has been billed prior to payment in full of an Assessment, the Annual Installment shall be due and payable and shall be credited against the payment-in-full amount. (c) Upon payment in full of the Assessment and all Prepayment Costs, the Town shall deposit the payment in accordance with the Trust Indenture; whereupon, the Assessment shall be reduced to zero, and the owner’s obligation to pay the Assessment and Annual Installments thereof shall automatically terminate. (d) At the option of the owner, the Assessment on any Parcel plus Prepayment Costs may be paid in part in an amount sufficient to allow for a convenient redemption of Bonds as determined by the Administrator. Upon the payment of such amounts for a Parcel, the Assessment for the Parcel shall be reduced, the Assessment Roll shall be updated to reflect such partial payment, and the obligation to pay the Annual Installment for such Parcel shall be reduced to the extent the partial payment is made. 2. Payment 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 Roll, as updated as provided for herein, which include interest, Administrative Expenses, Prepayment Reserve and Delinquency Reserve. Payment of the Annual Installments shall commence with tax bills mailed after the initial issuance of Bonds. Each Assessment shall be paid with interest of no more than the lesser of (i) the actual interest rate paid on the Bonds and (ii) ____ percent per annum. The Assessment Roll sets forth for each year the Annual Installment for each Parcel based on an estimated interest rate of 7.5% and additional interest at the rate of 0.5% for administrative expenses, Prepayment Reserve and Delinquency Reserve. Furthermore, the Annual Installments may not exceed the amounts shown on the Assessment Roll. The Assessment Roll, updated with the actual interest rates on the Bonds, is shown as Appendix E. The Annual Installments shall be reduced to equal the actual costs of repaying the Bonds and actual Administrative Expenses (as provided for in the definition of such term), taking into Ca n c e l e d lac k of qu o r u m 22 consideration any other available funds for these costs, such as interest income on account balances. The Town reserves and shall have the right and option to refund the Bonds in accordance with Section 372.027 of the PID Act. In the event of such refunding, the Administrator shall recalculate the Annual Installments, and if necessary, may adjust, or decrease, the amount of the Annual Installments so that total Annual Installments of Assessments will be produced in annual amounts that are required to pay the refunding bonds when due and payable as required by and established in the ordinance and/or the indenture authorizing and securing the refunding bonds, and such refunding bonds shall constitute Bonds for purposes of this Service and Assessment Plan. F. Collection of Annual Installments No less frequently than annually, the Administrator shall prepare, and the Town Council shall approve, an Annual Service Plan Update to allow for the billing and collection of Annual Installments. Each Annual Service Plan Update shall include an updated Assessment Roll and a calculation of the Annual Installment for each Parcel. Annual Collection Costs shall be allocated among Parcels in proportion to the amount of the Annual Installments for the Parcels. Each Annual Installment shall be reduced by any credits applied under the applicable Trust Indenture, such as capitalized interest, interest earnings on any account balances, and any other funds available to the Trustee for such purpose, including any existing deposits for a prepayment reserve. Annual Installments shall be collected by the Town in the same manner and at the same time as ad valorem taxes and shall be subject to the same penalties, procedures, and foreclosure sale in case of delinquencies as are provided for ad valorem taxes of the Town. The Town Council may provide for other means of collecting the Annual Installments to the extent permitted under the PID Act. The Assessments shall have lien priority as specified in the Act. Any sale of property for nonpayment of the Annual Installments shall be subject to the lien established for the remaining unpaid Annual Installments against such property and such property may again be sold at a judicial foreclosure sale if the purchaser thereof fails to make timely payment of the non-delinquent Annual Installments against such property as they become due and payable. Ca n c e l e d lac k of qu o r u m 23 Section VII THE ASSESSMENT ROLL A. The Assessment Roll Each Parcel within the PID has been evaluated by the Town Council (based on the Zoning Ordinance, developable area, proposed Property Owner Association Property and Public Property, the Authorized Improvements, best and highest use of land, and other development factors deemed relevant by the Town Council) to determine the Assessed Property within each Parcel. The Assessed Property will be assessed for the special benefits conferred upon the property as a result of the Authorized Improvements that benefit the property within the PID. Table IV-A summarizes the $30,800,375 in special benefit received by the Assessed Property from the Authorized Improvements, the costs of the PID formation, and Bond issuance costs. The amount of the Bonds is $28,600,000, which is less than the benefit received by the Assessed Property, and as such the total Assessment for all Assessed Property is $28,600,000 plus annual Administrative Expenses and other authorized charges. The Assessment for each Parcel of Assessed Property is calculated based on the allocation methodologies described in Section V.C and Appendices D and E of this Service and Assessment Plan. The Assessment Roll is attached hereto as Appendix E. B. Annual Assessment Roll Updates The Administrator shall prepare, and shall submit to the Town Council for approval, annual updates to the Assessment Roll in conjunction with the Annual Service Plan Update to reflect the following matters, together with any other changes helpful to the Administrator or the Town and permitted by the Act: (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.E of this Service and Assessment Plan. Once Bonds are issued, the Assessment Roll shall be updated, which update may be done in the next Annual Service Plan Update, to reflect any changes resulting from the issuance of the Bonds. This update shall reflect the actual interest on the Bonds on which the Annual Installments shall be paid, any reduction in the Assessments, and any revisions in the Actual Costs to be funded by the Bonds and Developer funds. Ca n c e l e d lac k of qu o r u m 24 Section VIII MISCELLANEOUS PROVISIONS A. Administrative Review The Town may elect to designate a third party to serve as Administrator. The Town shall notify Developer in writing at least thirty (30) days in advance before appointing a third party Administrator. To the extent consistent with the Act, an owner of an Assessed Parcel claiming that a calculation error has been made in the Assessment Roll(s), including the calculation of the Annual Installment, shall send a written notice describing the error to the Town not later than thirty (30) days after the date any amount which is alleged to be incorrect is due prior to seeking any other remedy. The Administrator shall promptly review the notice, and if necessary, meet with the Assessed Parcel owner, consider written and oral evidence regarding the alleged error and decide whether, in fact, such a calculation error occurred. If the Administrator determines that a calculation error has been made and the Assessment Roll should be modified or changed in favor of the Assessed Parcel owner, such change or modification shall be presented to the Town Council for approval to the extent permitted by the Act. A cash refund may not be made for any amount previously paid by the Assessed Parcel owner (except for the final year during which the Annual Installment shall be collected or if it is determined there are sufficient funds to meet the expenses of the PID for the current year), but an adjustment may be made in the amount of the Annual Installment to be paid in the following year. The decision of the Administrator regarding a calculation error relating to the Assessment Roll may be appealed to the Town Council. Any amendments made to the Assessment Roll(s) pursuant to calculation errors shall be made pursuant to the PID Act. The decision of the Administrator, or if such decision is appealed to the Town Council, the decision of the Town Council shall be conclusive as long as there is a reasonable basis for such determination. This procedure shall be exclusive and its exhaustion by any property owner shall be a condition precedent to any other appeal or legal action by such owner. B. Termination of Assessments Each Assessment shall be extinguished on the date the Assessment is paid in full, including unpaid Annual Installments and Delinquent Collection Costs, if any. After the extinguishment of an Assessment and the collection of any delinquent Annual Installments and Delinquent Collection Costs, the Town shall provide the owner of the affected Parcel a recordable “Notice of the PID Assessment Termination” C. Amendments Amendments to the Service and Assessment Plan can be made as permitted or required by the PID Act and under Texas law. The Town Council reserves the right to the extent permitted by the Act to amend this Service and Assessment Plan without notice under the Act and without notice to property owners of Parcels: Ca n c e l e d lac k of qu o r u m 25 (i) to correct mistakes and clerical errors; (ii) to clarify ambiguities; and (iii) to provide procedures for the collection and enforcement of Assessments, Prepayment Costs, Collection Costs, and other charges imposed by the Service and Assessment Plan. D. Administration and Interpretation of Provisions The Town Council shall administer the PID, this Service and Assessment Plan, and all Annual Service Plan Updates consistent with the PID Act, and shall make all interpretations and determinations related to the application of this Service and Assessment Plan unless stated otherwise herein or in the Trust Indenture, such determination shall be conclusive. E. Severability If any provision, section, subsection, sentence, clause or phrase of this Service and Assessment Plan or the application of same to an Assessed Parcel or any person or set of circumstances is for any reason held to be unconstitutional, void or invalid, the validity of the remaining portions of this Service and Assessment Plan or the application to other persons or sets of circumstances shall not be affected thereby, it being the intent of the Town Council in adopting this Service and Assessment Plan that no part hereof or provision or regulation contained herein shall become inoperative or fail by reason of any unconstitutionality, voidness or invalidity of any other part hereof, and all provisions of this Service and Assessment Plan are declared to be severable for that purpose. If any provision of this Service and Assessment Plan is determined by a court to be unenforceable, the unenforceable provision shall be deleted from this Service and Assessment Plan and the unenforceable provision shall, to the extent possible, be rewritten to be enforceable and to give effect to the intent of the Town. Ca n c e l e d lac k of qu o r u m Draft Appendix A The PID MAP Ca n c e l e d lac k of qu o r u m Ap p e n d i x A : T h e P I D M a p Ca n c e l e d lac k of qu o r u m Draft Appendix B ESTIMATED COSTS OF AUTHORIZED IMPROVEMENTS Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 COMMON‐TO‐ALL Description Unit Estimated  Quantity Unit Price Total Price PAVING ‐  Santinalla Del Mar 8", 3600 PSI, reinforced concrete pavement, w/ #3 bars  18" o.c.e.w.SY9422$41.00 $386,320 8" Treated subgrade compacted to 95% Standard  Proctor Density SY10082$3.00 $30,246 Lime TON136$180.00 $24,499 Striping ‐ Center Lines and Lane Lines LF2435$2.25 $5,479 Striping ‐ Crosswalks and Stop Bars LF374$4.50 $1,683 Street Signage EA3$750.00 $2,250 PAVING ‐ Ciudad Real 8", 3600 PSI, reinforced concrete pavement, w/ #3 bars  18" o.c.e.w.SY16084$41.00 $659,449 8" Treated subgrade compacted to 95% Standard  Proctor Density SY17210$3.00 $51,630 Lime TON232$180.00 $41,820 Striping ‐ Center Lines and Lane Lines LF2362$2.25 $5,315 Striping ‐ Crosswalks and Stop Bars LF330$4.50 $1,485 Street Signage EA5$750.00 $3,750 Striping ‐ Words and Arrows LF2$300.00 $600 PAVING ‐ Elche 6", 3600 PSI, reinforced concrete pavement, w/ #3 bars  18" o.c.e.w.SY4276$38.00 $162,471 8" Treated subgrade compacted to 95% Standard  Proctor Density SY4575$3.00 $13,725 Lime TON62$180.00 $11,117 PAVING ‐ Fondon 6", 3600 PSI, reinforced concrete pavement, w/ #3 bars  18" o.c.e.w.SY4999$38.00 $189,949 8" Treated subgrade compacted to 95% Standard  Proctor Density SY5349$3.00 $16,046 Details of Authorized Improvements B ‐ 1 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements Lime TON72$180.00 $12,997 PAVING ‐  Bridges Plaza Bridge EA1 837,000$                    $837,000 Mercado Ricardo Pedestrian Bridge EA1 425,000$                    $425,000 PAVING ‐ Sitges / Nerja 6", 3600 PSI, reinforced concrete pavement, w/ #3 bars  18" o.c.e.w.SY4542$38.00 $172,588 8" Treated subgrade compacted to 95% Standard  Proctor Density SY4860$3.00 $14,579 Lime TON66$180.00 $11,809 Striping ‐ Center Lines and Lane Lines LF2376$2.25 $5,346 Striping ‐ Crosswalks and Stop Bars LF597$4.50 $2,687 Street Signage EA6$750.00 $4,500 PAVING ‐ Galisteo 6", 3600 PSI, reinforced concrete pavement, w/ #3 bars  18" o.c.e.w.SY2433$38.00 $92,462 8" Treated subgrade compacted to 95% Standard  Proctor Density SY2604$3.00 $7,811 Lime TON35$180.00 $6,327 Striping ‐ Center Lines and Lane Lines LF661$2.25 $1,487 Striping ‐ Crosswalks and Stop Bars LF98$4.50 $441 Striping ‐ Words and Arrows LF4$300.00 $1,200 Street Signage EA2$750.00 $1,500 PAVING ‐ Valdes ‐ Dela 6", 3600 PSI, reinforced concrete pavement, w/ #3 bars  18" o.c.e.w.SY2590$38.00 $98,420 8" Treated subgrade compacted to 95% Standard  Proctor Density SY2771$3.00 $8,314 Lime TON37$180.00 $6,734 Striping ‐ Center Lines and Lane Lines LF661$2.25 $1,487 B ‐ 2 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements Striping ‐ Crosswalks and Stop Bars LF98$4.50 $441 Striping ‐ Words and Arrows LF4$300.00 $1,200 Street Signage EA2$750.00 $1,500 CITY WALKS AND PUBLIC LIGHTING 4", 3600 PSI reinforced concrete pavement w/ #3 bars  18" o.c.e.w.SY17971$36.00 $646,944 Street and Walk Lighting: Bollards:62 $2,500.00 $155,000 Iron Ornamental Benches and other seating 45 $5,333.00 $239,985 Street Lights (Intersections)21 $4,000.00 $84,000 SOLANA BOULEVARD Signal at FM 1938 & Solana LS1$200,000.00$200,000 Mobilization LS1$50,000.00$50,000 Site Preparation LS1$50,000.00$50,000 Street Excavation CY3200$4.75$15,200 Stabilized Subgrade SY9500$3.00$28,500 Material For Stabilization TON 152$180.00$27,360 8" Concrete Pavement SY9000$41.00$369,000 Remove Existing Stripes LS1$10,000.00$10,000 4" Wide Thermoplastic Stripes LF4500$3.00 $13,500 TYP II‐C‐R Pavement Markers EA120$7.00 $840 Erosion Control LS1$5,000.00 $5,000 Traffic Control LS1$5,000.00 $5,000 Subtotal Paving:$4,449,592 Description Unit Estimated  Quantity Unit Price Total Price UTILITIES ‐ WATER ‐ Santinalla Del Mar 12" PVC, Includes valves, taps and fittings LF 2439.5 $40.00 $97,580 Fire Hydrants EA 8 $3,900.00 $31,714 Trench Safety LF 2439.5 $2.00 $4,879 B ‐ 3 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements 12" Blow‐Off Valve LS4 $10,000.00 $40,000 B ‐ 4 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements UTILITIES ‐ WATER ‐ Ciudad Real 12" PVC, Includes valves, taps and fittings LF 2357.5 $40.00 $94,300 Fire Hydrants EA 8 $3,900.00 $30,648 Trench Safety LF 2357.5 $2.00 $4,715 UTILITIES ‐ WATER ‐ Elche 8" PVC, Includes valves, taps and fittings LF 1169 $35.00 $40,915 Fire Hydrants EA 4 $3,900.00 $15,197 Trench Safety LF 1169 $2.00 $2,338 UTILITIES ‐ WATER ‐  Fondon 12" PVC, Includes valves, taps and fittings LF 1289 $40.00 $51,560 Fire Hydrants EA 4 $3,900.00 $16,757 Trench Safety LF 1289 $2.00 $2,578 UTILITIES ‐ WATER ‐ Sitges / Nerja 12" PVC, Includes valves, taps and fittings LF 1628 $40.00 $65,120 Fire Hydrants EA 5 $3,900.00 $21,164 Trench Safety LF 1628 $2.00 $3,256 UTILITIES ‐ WATER ‐ Galisteo 8" PVC, Includes valves, taps and fittings LF 683 $35.00 $23,905 Fire Hydrants EA 2 $3,900.00 $8,879 Trench Safety LF 683 $2.00 $1,366 UTILITIES ‐ WATER ‐ Valdes / Dela 12" PVC, Includes valves, taps and fittings LF 968 $40.00 $38,720 Fire Hydrants EA 3 $3,900.00 $12,584 Trench Safety LF 968 $2.00 $1,936 UTILITIES ‐ WATER ‐ TROPHY CLUB MUD #1 12" WATER LINE RELOCATION Demo of Existing LS 1 $45,000.00 $45,000 12" Blow‐Off Valve LS1 $10,000.00 $10,000 New 12" Line LF3750 $40.00 $150,000 B ‐ 5 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements Subtotal Water:$655,110 B ‐ 6 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements UTILITIES ‐ SANITARY SEWER ‐ Santinalla Del Mar 8" PVC including sewer laterals LF 1952 $35.00 $68,306 Manholes EA 7 $4,200.00 $27,322 Trench Safety LF 1952 $2.00 $3,903 UTILITIES ‐ SANITARY SEWER ‐ Ciudad Real 8" PVC including sewer laterals LF 1886 $35.00 $66,010 Manholes EA 6 $4,200.00 $26,404 Trench Safety LF 1886 $2.00 $3,772 UTILITIES ‐ SANITARY SEWER ‐ Elche 8" PVC including sewer laterals LF 935 $35.00 $32,732 Manholes EA 3 $4,200.00 $13,093 Trench Safety LF 935 $2.00 $1,870 UTILITIES ‐ SANITARY SEWER ‐ Fondon 8" PVC including sewer laterals LF 1031 $35.00 $36,092 Manholes EA 3 $4,200.00 $14,437 Trench Safety LF 1031 $2.00 $2,062 UTILITIES ‐ SANITARY SEWER ‐ Sitges / Nerja 8" PVC including sewer laterals LF 1302 $35.00 $45,584 Manholes EA 4 $4,200.00 $18,234 Trench Safety LF 1302 $2.00 $2,605 UTILITIES ‐ SANITARY SEWER ‐ Galisteo 8" PVC including sewer laterals LF 546 $35.00 $19,124 Manholes EA 2 $4,200.00 $7,650 Trench Safety LF 546 $2.00 $1,093 UTILITIES ‐ SANITARY SEWER ‐ Valdes / Dela 8" PVC including sewer laterals LF 774 $35.00 $27,104 Manholes EA 3 $4,200.00 $10,842 Trench Safety LF 774 $2.00 $1,549 B ‐ 7 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements MISCELLANEOUS ‐ ALL SANITARY SEWER Lift Station EA 1 478,500$                    $478,500 4" Force Main LF 1644 $20.00 $32,880 TRA Intercept and Injection EA 1 602,900$                    $602,900 Subtotal Utilities ‐ Sanitary Sewer:$1,544,067 UTILITIES ‐ STORM SEWER ‐ Santinalla Del Mar RCP Pipe ‐ Various Size LF 975.8 $125 $121,975 Misc. Manholes, Junction Boxes and Inlets EA 12 $5,000.00 $60,000 Trench Safety LF 975.8 $2.00 $1,952 UTILITIES ‐ STORM SEWER ‐ Ciudad Real RCP Pipe ‐ Various Size LF 943 $125 $117,875 Misc. Manholes, Junction Boxes and Inlets EA 12 $5,000.00 $60,000 Trench Safety LF 943 $2.00 $1,886 UTILITIES ‐ STORM SEWER ‐ Elche RCP Pipe ‐ Various Size LF 1411 $125 $176,375 Misc. Manholes, Junction Boxes and Inlets EA 14 $5,000.00 $70,000 Trench Safety LF 1411 $2.00 $2,822 UTILITIES ‐ STORM SEWER ‐ Fondon RCP Pipe ‐ Various Size LF 654 $125 $81,750 Misc. Manholes, Junction Boxes and Inlets EA 7 $5,000.00 $35,000 Trench Safety LF 654 $2.00 $1,308 UTILITIES ‐ STORM SEWER ‐ Sitges / Nerja RCP Pipe ‐ Various Size LF 417 $125 $52,125 Misc. Manholes, Junction Boxes and Inlets EA 8 $5,000.00 $40,000 Trench Safety LF 417 $2.00 $834 UTILITIES ‐ STORM SEWER ‐ Galisteo RCP Pipe ‐ Various Size LF 88 $125 $11,000 Misc. Manholes, Junction Boxes and Inlets EA 7 $5,000.00 $35,000B ‐ 8 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements Trench Safety LF 88 $2.00 $176 B ‐ 9 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements UTILITIES ‐ STORM SEWER ‐ Valdes / Dela RCP Pipe ‐ Various Size LF 144 $125 $18,000 Misc. Manholes, Junction Boxes and Inlets EA 4 $5,000.00 $20,000 Trench Safety LF 144 $2.00 $288 UTILITIES ‐ STORM SEWER ‐ Solana Boulevard Recessed Curb Inlets EA5$5,000.00 $25,000 Junction Box EA5$5,000.00 $25,000 30" RCP LF350$125.00 $43,750 Trench Safety LF350$2.00 $700 LAKE EXCAVATION AND EDGING Excavation CY169660 $4.75 $805,884 Retaining Walls ‐ Lake LF6515 $50.00 $325,750 Retaining Walls ‐ Common to All LF3627.5 $150.00 $544,125 Subtotal Utilities ‐ Storm Sewer $2,678,575 PAVING $4,449,592 UTILITIES ‐ WATER $655,110 UTILITIES ‐ SANITARY SEWER $1,544,067 UTILITIES ‐ STORM SEWER $2,678,575 8% INSPECTION AND BONDS (Public Improvements)$811,073 SUB TOTAL ‐ INFRASTRUCTURE $10,138,417 LANDSCAPE ‐ COMMON TO ALL $3,271,500 10% CONTINGENCY $1,340,992 14% ENGINEERING/SURVEYING/CONSTRUCTION ADMIN.$1,877,388 GRAND TOTAL $16,628,297 Estimate does not include: Mobilization or Insurance Franchise Utility Installations or Relocations ‐ gas, electric, telephone, etc. The inspections fee information identified above is based on those items that will be publically maintained. SUMMARY ‐ MISCELLANEOUS AREAS B ‐ 10 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements Inspection fees are based on the cost of public improvements, therefore the costs identified above will change based upon the actual costs provided by the contractors. This estimate assumes that that subgrade treatment is to be lime and not cement stabilized.  Actual treatment is to be determined by the Geotech Engineer prior to installation.   Efforts were made to identify all cost items identified within the Approved Preliminary Plat.  It is possible that some items have been inadvertently omitted or the quantities may be different than the actual amount depicted in the construction plans.  EAST RESIDENTIAL Item No.Description Unit Estimated  Quantity Unit Price Total Price PAVING ‐  East Residential 6", 3600 PSI, reinforced concrete pavement, w/ #3 bars  18" o.c.e.w.SY12754$38.00 $484,639 8" Treated subgrade compacted to 95% Standard  Proctor Density SY13646$3.00 $40,939 Lime TON184$180.00 $33,161 Striping ‐ Center Lines and Lane Lines LF198$2.25 $446 Striping ‐ Crosswalks and Stop Bars LF144$4.50 $648 Street Signage EA2$750.00 $1,500 PAVING ‐  Bridge Bridge w/ abutments on Ciudad Real EA1 $450,000.00 $450,000 Subtotal Utilities ‐ Paving:$1,011,333 UTILITIES ‐ WATER ‐ East Residential 12" PVC, Includes valves, taps and fittings LF 3208 $40.00 $128,320 Fire Hydrants EA 11 $3,900.00 $41,703 Trench Safety LF 3208 $2.00 $6,416 Subtotal Utilities ‐ Water $176,439 UTILITIES ‐ SANITARY SEWER ‐ East Residential 8" PVC including sewer laterals LF 2566 $35.00 $89,824 Manholes EA 9 $4,200.00 $35,931 B ‐ 11 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements Trench Safety LF 2566 $2.00 $5,133 MISCELLANEOUS ‐ ALL SANITARY SEWER Lift Station LF 1 $487,000.00 $487,000 4" Force Main LF 960 $20.00 $19,200 Subtotal Utilities ‐ Sanitary Sewer:$637,088 Description Unit Estimated  Quantity Unit Price Total Price UTILITIES ‐ STORM SEWER ‐ East Residential  RCP Pipe ‐ Various Size LF 256 $125.00 $32,000 Misc. Manholes, Junction Boxes and Inlets EA 16 $5,000.00 $80,000 Trench Safety LF 256 $2.00 $512 EXCAVATION AND RETAINING WALLS Excavation CY36148 $4.75 $171,703 Retaining Walls Lake  Wall LF 3600 50.00$                            $180,000 Southern Border Wall LF 1674 150.00$                          $251,100 Subtotal Utilities ‐ Storm Sewer $715,315 PAVING $1,011,332.91 UTILITIES ‐ WATER $176,438.70 UTILITIES ‐ SANITARY SEWER $637,087.80 UTILITIES ‐ STORM SEWER $715,315.00 SUB TOTAL $2,540,174.41 8% INSPECTION AND BONDS $203,213.95 10% CONTINGENCY $254,017.00 14% ENGINEERING/SURVEYING/CONSTRUCTION ADMIN.$355,624.00 GRAND TOTAL $3,353,029.36 Estimate does not include: SUMMARY ‐ MISCELLANEOUS AREAS B ‐ 12 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements Mobilization or Insurance Franchise Utility Installations or Relocations ‐ gas, electric, telephone, etc. The inspections fee information identified above is based on those items that will be publically maintained. Inspection fees are based on the cost of public improvements, therefore the costs identified above will change based upon the actual costs provided by the contractors. This estimate assumes that that subgrade treatment is to be lime and not cement stabilized.  Actual treatment is to be determined by the Geotech Engineer prior to installation.   Efforts were made to identify all cost items identified within the Approved Preliminary Plat.  It is possible that some items have been inadvertently omitted or the quantities may be different than the actual amount depicted in the construction plans.  WEST RESIDENTIAL Item No.Description Unit Estimated  Quantity Unit Price Total Price PAVING ‐  Arta 6", 3600 PSI, reinforced concrete pavement, w/ #3 bars  18" o.c.e.w.SY1593$38.00 $60,551 8" Treated subgrade compacted to 95% Standard  Proctor Density SY1705$3.00 $5,115 Lime TON23$180.00 $4,143 Striping ‐ Center Lines and Lane Lines LF198$2.25 $446 Striping ‐ Crosswalks and Stop Bars LF144$4.50 $648 Street Signage EA2$750.00 $1,500 PAVING ‐ Baeza 6", 3600 PSI, reinforced concrete pavement, w/ #3 bars  18" o.c.e.w.SY5706$38.00 $216,832 8" Treated subgrade compacted to 95% Standard  Proctor Density SY6106$3.00 $18,317 Lime TON82$180.00 $14,836 Striping ‐ Center Lines and Lane Lines LF1191$2.25 $2,680 Striping ‐ Crosswalks and Stop Bars LF334$4.50 $1,503 Street Signage EA2$750.00 $1,500 Striping ‐ Words and Arrows LF2$300.00 $600 B ‐ 13 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements PAVING ‐ Cadaques 6", 3600 PSI, reinforced concrete pavement, w/ #3 bars  18" o.c.e.w.SY4435$38.00 $168,513 8" Treated subgrade compacted to 95% Standard  Proctor Density SY4745$3.00 $14,235 Lime TON64$180.00 $11,530 Striping ‐ Center Lines and Lane Lines LF870$2.25 $1,958 Striping ‐ Crosswalks and Stop Bars LF144$4.50 $648 Street Signage EA1$750.00 $750 PAVING ‐ Carmona 8", 3600 PSI, reinforced concrete pavement, w/ #3 bars  18" o.c.e.w.SY3190$38.00 $121,237 8" Treated subgrade compacted to 95% Standard  Proctor Density SY3414$3.00 $10,241 Lime TON46$180.00 $8,295 Striping ‐ Center Lines and Lane Lines LF760$2.25 $1,710 Striping ‐ Crosswalks and Stop Bars LF165$4.50 $743 Street Signage EA2$750.00 $1,500 PAVING ‐ Comillas 6", 3600 PSI, reinforced concrete pavement, w/ #3 bars  18" o.c.e.w.SY2958$38.00 $112,391 8" Treated subgrade compacted to 95% Standard  Proctor Density SY3165$3.00 $9,494 Lime TON44$180.00 $7,975 Striping ‐ Center Lines and Lane Lines LF276$2.25 $621 Striping ‐ Crosswalks and Stop Bars LF118$4.50 $531 Street Signage EA3$750.00 $2,250 PAVING SUBTOTAL:$803,293 Description Unit Estimated  Quantity Unit Price Total Price UTILITIES ‐ WATER ‐ Arta B ‐ 14 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements 8" PVC, Includes valves, taps and fittings LF 580 $35.00 $20,300 Fire Hydrants EA 2 $3,900.00 $7,540 Trench Safety LF 580 $2.00 $1,160 UTILITIES ‐ WATER ‐ Baeza 8" PVC, Includes valves, taps and fittings LF 1120 $35.00 $39,200 Fire Hydrants EA 4 $3,900.00 $14,560 Trench Safety LF 1120 $2.00 $2,240 UTILITIES ‐ WATER ‐ Cadaques 8" PVC, Includes valves, taps and fittings LF 1090 $35.00 $38,150 Fire Hydrants EA 4 $3,900.00 $14,170 Trench Safety LF 1090 $2.00 $2,180 UTILITIES ‐ WATER ‐  Carmona 8" PVC, Includes valves, taps and fittings LF 887 $35.00 $31,045 Fire Hydrants EA 3 $3,900.00 $11,531 Trench Safety LF 887 $2.00 $1,774 UTILITIES ‐ WATER ‐ Comillas 8" PVC, Includes valves, taps and fittings LF 619 $35.00 $21,665 Fire Hydrants EA 2 $3,900.00 $8,047 Trench Safety LF 619 $2.00 $1,238 Subtotal Utilities ‐ Water:$214,800 Description Unit Estimated  Quantity Unit Price Total Price UTILITIES ‐ SANITARY SEWER ‐ Arta 8" PVC including sewer laterals LF 464 $35.00 $16,240 Manholes EA 3 $4,200.00 $12,600 Trench Safety LF 464 $2.00 $928 UTILITIES ‐ SANITARY SEWER ‐ Baeza 8" PVC including sewer laterals LF 896 $35.00 $31,360B ‐ 15 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements Manholes EA 3 $4,200.00 $12,600 Trench Safety LF 896 $2.00 $1,792 UTILITIES ‐ SANITARY SEWER ‐ Cadaques 8" PVC including sewer laterals LF 872 $35.00 $30,520 Manholes EA 5.027 $4,200.00 $21,113 Trench Safety LF 872 $2.00 $1,744 UTILITIES ‐ SANITARY SEWER ‐ Carmona 8" PVC including sewer laterals LF 709.6 $35.00 $24,836 Manholes EA 5.5 $4,200.00 $23,100 Trench Safety LF 709.6 $2.00 $1,419 UTILITIES ‐ SANITARY SEWER ‐ Comillas 8" PVC including sewer laterals LF 619 $35.00 $21,665 Manholes EA 5 $4,200.00 $21,000 Trench Safety LF 619 $2.00 $1,238 Subtotal Utilities ‐ Sanitary Sewer:$222,156 Description Unit Estimated  Quantity Unit Price Total Price UTILITIES ‐ STORM SEWER ‐ Arta RCP Pipe ‐ Various Size LF 139 $125.00 $17,430 Misc. Manholes, Junction Boxes and Inlets EA 4 $5,000.00 $20,000 Trench Safety LF 139.44 $2.00 $279 UTILITIES ‐ STORM SEWER ‐ Baeza RCP Pipe ‐ Various Size LF 210 $125.00 $26,250 Misc. Manholes, Junction Boxes and Inlets EA 3 $5,000.00 $15,000 Trench Safety LF 210 $2.00 $420 UTILITIES ‐ STORM SEWER ‐ Cadaques B ‐ 16 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements RCP Pipe ‐ Various Size LF 90 $125.00 $11,250 Misc. Manholes, Junction Boxes and Inlets EA 3 $5,000.00 $15,000 Trench Safety LF 90 $2.00 $180 B ‐ 17 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements UTILITIES ‐ STORM SEWER ‐ Carmona RCP Pipe ‐ Various Size LF 158 $125.00 $19,750 Misc. Manholes, Junction Boxes and Inlets EA 3 $5,000.00 $15,000 Trench Safety LF 158 $2.00 $316 UTILITIES ‐ STORM SEWER ‐ Comillas RCP Pipe ‐ Various Size LF 177 $125.00 $22,125 Misc. Manholes, Junction Boxes and Inlets EA 5 $5,000.00 $25,000 Trench Safety LF 177 $2.00 $354 EXCAVATION AND RETAINING WALLS ‐ HILLSIDE VILLAS Hillside Retaining Walls LF5282 $150.00 $792,300 Subtotal Utilities ‐ Storm Sewer $980,654 PAVING $803,293.02 UTILITIES ‐ WATER $214,800.00 UTILITIES ‐ SANITARY SEWER $222,155.60 UTILITIES ‐ STORM SEWER $980,653.88 SUB TOTAL $2,220,902.50 8% INSPECTION AND BONDS $177,672.20 10% CONTINGENCY $222,090.00 14% ENGINEERING/SURVEYING/CONSTRUCTION ADMIN.$310,926.00 GRAND TOTAL $2,931,590.70 Estimate does not include: Mobilization or Insurance Franchise Utility Installations or Relocations ‐ gas, electric, telephone, etc. The inspections fee information identified above is based on those items that will be publically maintained. Inspection fees are based on the cost of public improvements, therefore the costs identified above will change based upon the actual costs provided by the contractors. This estimate assumes that that subgrade treatment is to be lime and not cement stabilized.  Actual treatment is to be determined by the Geotech Engineer prior to installation.   SUMMARY ‐ MISCELLANEOUS AREAS B ‐ 18 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements Efforts were made to identify all cost items identified within the Approved Preliminary Plat.  It is possible that some items have been inadvertently omitted or the quantities may be different than the actual amount depicted in the construction plans.  B ‐ 19 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements LANDSCAPE Item No.Description Unit Estimated  Quantity Unit Price Total Price LANDSCAPING ‐‐ Davis Boulevard Frontage 0.75        acres Irrigation LS1 33,626$                          $33,626 Vineyards / Plantings LS1 108,731$                        $108,731 Trees LS1 168,130$                        $168,130 Rubble Walls LS1 31,200$                          $31,200 Walks LS1 26,880$                          $26,880 Rest Areas LS1 108,433$                        $108,433 LANDSCAPING ‐‐ Solana Boulevard Frontage 1.45        acres Irrigation LS1 65,083$                          $65,083 Vineyards / Plantings LS1 38,000$                          $38,000 Trees LS1 161,873$                        $161,873 Rubble Walls LS1 97,500$                          $97,500 Walks LS1 84,000$                          $84,000 Rest Areas LS1 68,544$                          $68,544 LANDSCAPING ‐‐ 114 Frontage (Vineyards)7.85        acres Irrigation LS1 117,800$                        $117,800 Vineyards / Plantings LS1 274,866$                        $274,866 Trees LS1 47,120$                          $47,120 Rubble Walls LS1 78,533$                          $78,533 Walks LS1$0.00 $0 Rest Areas (Stone Huts)LS1 39,182$                          $39,182 B ‐ 20 Ca n c e l e d lac k of qu o r u m PRELIMINARY NUMBERS WESTLAKE PUBLIC IMPROVEMENT DISTRICT No. 1 Details of Authorized Improvements Davis Boulevard $477,000 Solana Boulevard $515,000 114 Frontage $557,500 Two Small Wells (25 gpm each)211,000$                     Lake Fountains (3) with aeration 231,000$                     Large Capacity Well: 175 gpm 635,000$                     Desalinization Plant 645,000$                     SUB TOTAL $3,271,500 10% CONTINGENCY On CTA Summary Page 12% ENGINEERING/SURVEYING/CONSTRUCTION ADMIN.On CTA Summary Page GRAND TOTAL $3,271,500 Estimate does not include: Mobilization or Insurance Franchise Utility Installations or Relocations ‐ gas, electric, telephone, etc. The inspections fee information identified above is based on those items that will be publically maintained. Inspection fees are based on the cost of public improvements, therefore the costs identified above will change based upon the actual costs provided by the contractors. This estimate assumes that that subgrade treatment is to be lime and not cement stabilized.  Actual treatment is to be determined by the Geotech Engineer prior to installation.   Efforts were made to identify all cost items identified within the Approved Preliminary Plat.  It is possible that some items have been inadvertently omitted or the quantities may be different than the actual amount depicted in the construction plans.  SUMMARY ‐ Landscape B ‐ 21 Ca n c e l e d lac k of qu o r u m Draft Appendix C DIAGRAM OF THE AUTHORIZED IMPROVEMENTS Ca n c e l e d lac k of qu o r u m Ap p e n d i x C : A u t h o r i z e d I m p r o v e m e n t s Common-to-All: Roads, Water, Sanitary Sewer, and Drainage Ca n c e l e d lac k of qu o r u m Ap p e n d i x C : A u t h o r i z e d I m p r o v e m e n t s West Residential: Roads, Water, Sanitary Sewer, and Drainage Ca n c e l e d lac k of qu o r u m Ap p e n d i x C : A u t h o r i z e d I m p r o v e m e n t s East Residential: Roads, Water, Sanitary Sewer, and Drainage Ca n c e l e d lac k of qu o r u m Ap p e n d i x C : A u t h o r i z e d I m p r o v e m e n t s Common-To -All: Landscape Ca n c e l e d lac k of qu o r u m Ap p e n d i x C : A u t h o r i z e d I m p r o v e m e n t s Common-To -All: Landscape Ca n c e l e d lac k of qu o r u m Ap p e n d i x C : A u t h o r i z e d I m p r o v e m e n t s Common-To -All: Lighting Ca n c e l e d lac k of qu o r u m Draft Appendix D LAND USE CLASSS AND EQUIVALENT UNITS Ca n c e l e d lac k of qu o r u m DRAFT D - 1 v3.0 Appendix D Land Use Classes and Equivalent Units For purposes of allocating the Assessments, the Assessed Property has been classified in one of eleven Land Use Classes. The following table shows the proposed residential and non- residential Land Use Classes within the PID. Table D-1 Proposed Development within the PID Land Use Class Description Proposed Development Residential Land Use Class 1 Condos - Non-waterside 1 22 units Land Use Class 2 Villas – Waterside Detached 26 units Land Use Class 3 Condos - Waterside 86 units Land Use Class 4 Villas - Hillside 110 units Land Use Class 5 Condos - Non-waterside 2 24 units Land Use Class 6 Villas – Waterside Attached 54 units Total - Residential 322 units Non-Residential    Land Use Class 7 Hotel 322,100 Sq. Ft Land Use Class 8 Retail 151,599 Sq. Ft Land Use Class 9 Waterfront Retail 102,000 Sq. Ft Land Use Class 10 Convalescence 231,600 Sq. Ft Land Use Class 11 Office 428,300 Sq. Ft Total – Non-residential 1,235,599 Sq. Ft The Land Use Classes shown in the above tables are defined as follows: “Land Use Class 1” means lots identified as such on the Assessment Roll, which are referred to as condo residential units in the Zoning Ordinance and being generally lots for a condo dwelling unit placed over retail and office uses with structured parking provided. “Land Use Class 2” means lots identified as such on the Assessment Roll, which are referred to as villa units in the Zoning Ordinance and being generally lots for a single family detached unit located adjacent to water. “Land Use Class 3” means lots identified as such on the Assessment Roll, which are referred to as condo residential units in the Zoning Ordinance and being generally lots for a condo dwelling unit placed over retail and restaurant uses with direct access to the harbor. “Land Use Class 4” means lots identified as such on the Assessment Roll, which are referred to as villa units in the Zoning Ordinance and being generally lots for a single family detached unit with no direct access to the water. Ca n c e l e d lac k of qu o r u m DRAFT D - 2 v3.0 “Land Use Class 5” means lots identified as such on the Assessment Roll, which are referred to as condo residential units in the Zoning Ordinance and being generally lots for a condo dwelling unit being part of two key architectural landmarks within the development, but no direct access to the water. “Land Use Class 6” means lots identified as such on the Assessment Roll, which are referred to as villa units in the Zoning Ordinance and being generally lots for a single family attached unit located adjacent to water. “Land Use Class 7” means lots identified as such on the Assessment Roll, which are referred to as hotel in the Zoning Ordinance, and being generally a building or group of buildings designed and occupied as a temporary abiding place of individuals. “Land Use Class 8” means lots identified as such on the Assessment Roll, which are referred to as retail in the Zoning Ordinance, and being generally parcels used for retail purposes that may be comprised of a single tenant or multiple tenants that make up a retail establishment and are generally located on the ground floor of buildings or in a single building. “Land Use Class 9” means lots identified as such on the Assessment Roll, which are referred to as retail in the Zoning Ordinance, and being generally parcels located adjacent to the water surrounding the harbor and used for retail purposes that may be comprised of a single tenant or multiple tenants that make up a retail establishment and are generally located on the ground floor of buildings or in a single building. “Land Use Class 10” means lots identified as such on the Assessment Roll, which are referred to as Convalescence in the Zoning Ordinance, and being generally parcels used for assisted living, nursing and other similar residential uses that are either on the water or on the central plaza. “Land Use Class 11” means lots identified as such on the Assessment Roll, which are referred to as office in the Zoning Ordinance, and being generally parcels used for office purposes that may include a group of offices or a single office and are generally located in a single building, on one or more floors, or multiple buildings. As explained under Section IV-D, for purpose of this Service and Assessment Plan, the Town Council has determined that the Actual Costs of the Authorized Improvements to be financed with the Bonds shall be allocated to the Assessed Property by spreading the entire Assessment across the Parcels based on the estimated Equivalent Units. For purposes of this Service and Assessment Plan, the Town Council has determined that the Authorized Improvement Costs shall be allocated to the Assessed Property spreading the entire Assessment across the Parcels of Assessed Property based on the estimated Equivalent Units as calculated and shown in herein using the proposed development types and quantity anticipated to be developed on each Parcel and average estimated values at build-out. Allocation of Assessments by value is specifically authorized by statute. This approach is particularly Ca n c e l e d lac k of qu o r u m DRAFT D - 3 v3.0 appropriate in this case, as the purpose of the improvements to be provided by the PID is to allow for the development of the property to make the property more valuable. Accordingly, allocating the Assessments in accordance with value will result in a reasonable determination that equal shares of the Authorized Improvement Costs have been allocated to Parcels similarly benefited. Upon subsequent divisions of any Parcel, the Assessment applicable to it will then be apportioned pro rata based on the Equivalent Units of each newly created Parcel. Having taken into consideration the matters described above, the Town Council has determined that allocating the Assessments among Parcels based on estimated average value is best accomplished by creating classifications of benefited Parcels based on the “Land Use Class” defined above. These classifications representing the estimated average value per unit relative to Land Use Class 1 (Residential – Non-water side condos) representing the highest estimated average value per unit are set forth in Table D-4 below. Assessments are allocated to each Land Use Class on the basis of the estimated average value for each Land Use Class. This is accomplished by giving each Land Use Class an Equivalent Unit factor. Equivalent Units are the ratio of the estimated average value at build-out within each Land Use Class, setting the Equivalent Unit factor for Land Use Class 1 (Residential – Non-water side condos) to 1.0. The Equivalent Unit factor for Land Use Class 2 is calculated to be 0.83 ($801,000 ÷ $969,000 = 0.83). The Equivalent Unit factor for each of the remaining Land Use Classes is calculated accordingly and shown in Table D-4. Table D-4 Equivalent Unit Factors Land Use Class Estimated Average Unit Value Equivalent Unit Factor Land Use Class 1 (Condo - Non-waterside 1) $969,0001.00per dwelling unit Land Use Class 2 (Villa - Waterside Detached) $801,0000.83per dwelling unit Land Use Class 3 (Condo - Waterside) $713,0000.74per dwelling unit Land Use Class 4 (Villa - Hillside) $597,0000.62per dwelling unit Land Use Class 5 (Condo - Non-waterside 2) $583,0000.60per dwelling unit Land Use Class 6 (Villa - Waterside Attached) $453,0000.47 per dwelling unit Land Use Class 7 (Hotel) $206,8000.21 per 1,000 sq. ft Land Use Class 8 (Retail) $186,6000.19 per 1,000 sq. ft Land Use Class 9 (Waterfront Retail) $177,9000.18 per 1,000 sq. ft Land Use Class 10 (Convalescence) $165,0000.17 per 1,000 sq. ft Land Use Class 11 (Office) $149,7000.15 per 1,000 sq. ft Ca n c e l e d lac k of qu o r u m DRAFT D - 4 v3.0 The total estimated Equivalent Units for the PID are shown in Table D-5 below as calculated based on the Equivalent Unit factors shown above, estimated Land Use Class and number of units estimated to be built within the PID. Table D-5 Estimated Equivalent Units Land Use Class Planned No. of Units Equivalent Unit Factor Total Equivalent Units Land Use Class 1 (Condo - Non-waterside 1) 22 1.00 22.00 Land Use Class 2 (Villa - Waterside Detached) 26 0.83 21.58 Land Use Class 3 (Condo - Waterside) 86 0.74 63.64 Land Use Class 4 (Villa - Hillside) 110 0.62 68.20 Land Use Class 5 (Condo - Non-waterside 2) 24 0.60 14.40 Land Use Class 6 (Villa - Waterside Attached) 54 0.47 25.38 Land Use Class 7 (Hotel) – in 1,000 Sq. Ft 322.10 0.21 67.64 Land Use Class 8 (Retail) – in 1,000 Sq. Ft 151.60 0.19 28.80 Land Use Class 9 (Waterfront Retail) – in 1,000 Sq. Ft 102.00 0.18 18.36 Land Use Class 10 (Convalescence) – in 1,000 Sq. Ft 231.60 0.17 39.37 Land Use Class 11 (Office) – in 1,000 Sq. Ft 428.30 0.15 64.25 Total Equivalent Units 433.62 Ca n c e l e d lac k of qu o r u m Draft Appendix E ASSESSMENT ROLL Ca n c e l e d lac k of qu o r u m DRAFT Parcel All Assessment $28,600,000 Year Principal and Interest1 Administrative ExpensesAnnual Installment 1$813,511$51,998$865,509 2$2,288,000$53,038$2,341,038 3$2,288,000$54,098$2,342,098 4$2,328,000$55,180$2,383,180 5$2,359,800$56,284$2,416,084 6$2,393,800$57,410$2,451,210 7$2,424,600$58,558$2,483,158 8$2,452,200$59,729$2,511,929 9$2,486,600$60,924$2,547,524 10$2,517,000$62,142$2,579,142 11$2,493,440$63,385$2,556,825 12$2,526,140$64,653$2,590,793 13$2,564,160$65,946$2,630,106 14$2,596,720$67,265$2,663,985 15$2,633,820$68,610$2,702,430 16$2,669,680$69,982$2,739,662 17$2,703,910$71,382$2,775,292 18$2,746,120$72,809$2,818,929 19$2,780,140$74,265$2,854,405 20$2,820,970$75,751$2,896,721 21$2,862,440$77,266$2,939,706 22$2,898,770$78,811$2,977,581 23$2,939,570$80,387$3,019,957 24$2,983,670$81,995$3,065,665 25$3,024,900$83,635$3,108,535 26$3,067,480$85,308$3,152,788 27$3,115,240$87,014$3,202,254 28$3,161,620$88,754$3,250,374 29$3,205,450$90,529$3,295,979 30$3,255,560$92,340$3,347,900 Total$79,401,311$2,109,445$81,510,756 1 - Interest is calculated using 7.5% plus 0.5% additional interest for delinquency reserve and other uses allowed by the Act. Assessment Roll E ‐ 1 Ca n c e l e d lac k of qu o r u m Page 1 of 2 estlake Town Council TYPE OF ACTION Workshop - Discussion Item Westlake Town Council Meeting Monday, December 09, 2013 TOPIC: Discussion regarding the proposed 2014 Town Council and Board of Trustees meeting calendar. STAFF CONTACT: Kelly Edwards, Town Secretary DECISION POINTS Start Date Completion Date Timeframe: November 11, 2013 December 9, 2013 Funding: Amount - $0.00 Status- Funded Source- N/A Decision Alignment VVM Perspective Desired Outcome Sense of Place Customer Focus CF.Promote Best Practice Policy Governance Strategic Issue Outcome Strategy Staff Action N/A N/A N/A Strategy Map or VVM Connection Strategic Issue Connection Ca n c e l e d lac k of qu o r u m Page 2 of 2 EXECUTIVE SUMMARY From time to time, the Council/BOT regular meeting schedule requires modification due to holidays and other events that may create a conflict for Council/Board Members and staff to attend Council/Board meetings. Several factors have been taken into consideration as staff prepared the 2014 meeting calendar, including national holidays, school holidays, early voting and annual training conferences. The calendar does not include any meeting dates for the month of July. Meetings are normally scheduled include the Board of Trustees meetings on the 1st Monday of each month and Town Council meetings on the 4th Monday of each month with exceptions of budget workshops or off- site meeting retreats. During the November 11, 2013, meeting there was discussion regarding moving the Board of Trustees meeting to the 2nd Monday to provide additional time for Staff to gather packet material preventing back to back meetings. After additional review with Staff and speaking with the School Attorney we do not foresee any conflicts moving the Trustee meeting. ORGANIZATIONAL HISTORY/RECOMMENDATION Select a meeting calendar and make any necessary revisions to the proposed 2014 meeting calendar. ATTACHMENTS Calendar 1 – BOT 1st Monday & TC 4 th Monday Calendar 2 – BOT 2nd Monday & TC 4 th Monday Ca n c e l e d lac k of qu o r u m January 2014 1 February 2014 2 March 2014 3 S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa 1 2 3 4 1 1 5 6 7 8 9 10 11 2 3 4 5 6 7 8 2 3 4 5 6 7 8 12 13 14 15 16 17 18 9 10 11 12 13 14 15 9 10 11 12 13 14 15 03/10-03/14 Spring Break 19 20 21 22 23 24 25 16 17 18 19 20 21 22 16 17 18 19 20 21 22 26 27 28 29 30 31 23 24 25 26 27 28 23 24 25 26 27 28 29 30 31 April 2014 4 May 2014 5 June 2014 6 S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa 05/10 Election Day 1 2 3 4 5 1 2 3 1 2 3 4 5 6 7 05/15 Canvass if necessary 6 7 8 9 10 11 12 4 5 6 7 8 9 10 8 9 10 11 12 13 14 05/19 BOT Budget Wkshp 13 14 15 16 17 18 19 11 12 13 14 15 16 17 15 16 17 18 19 20 21 05/21 TC/BOT orientation (if necessary) 20 21 22 23 24 25 26 18 19 20 21 22 23 24 22 23 24 25 26 27 28 05/30 TC Planning Retreat 27 28 29 30 25 26 27 28 29 30 31 29 30 06/05 Last Day of School 06/07 Senior Commencement July 2014 7 August 2014 8 September 2014 9 S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa 1 2 3 4 5 1 2 1 2 3 4 5 6 08/08 TC Budget Wkshp 12-5:00 6 7 8 9 10 11 12 3 4 5 6 7 8 9 7 8 9 10 11 12 13 09/03 & 09/10 TC if necessary (tax) 13 14 15 16 17 18 19 10 11 12 13 14 15 16 14 15 16 17 18 19 20 09/15 PZ if necessary (short turn-around) 20 21 22 23 24 25 26 17 18 19 20 21 22 23 21 22 23 24 25 26 27 09/14-09/17 ICMA 27 28 29 30 31 24 25 26 27 28 29 30 28 29 30 31 October 2014 10 November 2014 11 December 2014 12 S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa 1 2 3 4 1 1 2 3 4 5 6 5 6 7 8 9 10 11 2 3 4 5 6 7 8 7 8 9 10 11 12 13 09/30-10/03 TML 12 13 14 15 16 17 18 9 10 11 12 13 14 15 14 15 16 17 18 19 20 19 20 21 22 23 24 25 16 17 18 19 20 21 22 21 22 23 24 25 26 27 26 27 28 29 30 31 23 24 25 26 27 28 29 28 29 30 31 30 School Board School & Town Holiday Budget / Meeting Retreats Town Council School Holiday Town Holiday New Council/BOT Election Day /First/Last Day Orientation Special Meeting to of School Planning & Zoning Canvass Returns Meetings Meeting Schedule Town of Westlake Ca n c e l e d lac k of qu o r u m January 2014 1 February 2014 2 March 2014 3 S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa 1 2 3 4 1 1 5 6 7 8 9 10 11 2 3 4 5 6 7 8 2 3 4 5 6 7 8 12 13 14 15 16 17 18 9 10 11 12 13 14 15 9 10 11 12 13 14 15 03/10-03/14 Spring Break 19 20 21 22 23 24 25 16 17 18 19 20 21 22 16 17 18 19 20 21 22 26 27 28 29 30 31 23 24 25 26 27 28 23 24 25 26 27 28 29 30 31 April 2014 4 May 2014 5 June 2014 6 S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa 05/10 Election Day 1 2 3 4 5 1 2 3 1 2 3 4 5 6 7 05/15 Canvass if necessary 6 7 8 9 10 11 12 4 5 6 7 8 9 10 8 9 10 11 12 13 14 05/19 BOT Budget Wkshp 13 14 15 16 17 18 19 11 12 13 14 15 16 17 15 16 17 18 19 20 21 05/21 TC/BOT orientation (if necessary) 20 21 22 23 24 25 26 18 19 20 21 22 23 24 22 23 24 25 26 27 28 05/30 TC Planning Retreat 27 28 29 30 25 26 27 28 29 30 31 29 30 06/05 Last Day of School 06/07 Senior Commencement July 2014 7 August 2014 8 September 2014 9 S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa 1 2 3 4 5 1 2 1 2 3 4 5 6 08/08 TC Budget Wkshp 12-5:00 6 7 8 9 10 11 12 3 4 5 6 7 8 9 7 8 9 10 11 12 13 09/03 & 09/10 TC if necessary (tax) 13 14 15 16 17 18 19 10 11 12 13 14 15 16 14 15 16 17 18 19 20 09/15 PZ if necessary (short turn-around) 20 21 22 23 24 25 26 17 18 19 20 21 22 23 21 22 23 24 25 26 27 09/14-09/17 ICMA 27 28 29 30 31 24 25 26 27 28 29 30 28 29 30 31 09/30-10/03 TML October 2014 10 November 2014 11 December 2014 12 S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa 1 2 3 4 1 1 2 3 4 5 6 5 6 7 8 9 10 11 2 3 4 5 6 7 8 7 8 9 10 11 12 13 12 13 14 15 16 17 18 9 10 11 12 13 14 15 14 15 16 17 18 19 20 19 20 21 22 23 24 25 16 17 18 19 20 21 22 21 22 23 24 25 26 27 26 27 28 29 30 31 23 24 25 26 27 28 29 28 29 30 31 30 School Board School & Town Holiday Budget / Meeting Retreats Town Council School Holiday Town Holiday New Council/BOT Election Day /First/Last Day Orientation Special Meeting to of School Planning & Zoning Canvass Returns Meetings Meeting Schedule Town of Westlake May & June shuffle due to a holiday, the election, and not wanting to meet to late into June. June's are pushed due to the 5/30 workshop , last day of school and graduation October shifted to avoid 3 consecutive Monday meetings Ca n c e l e d lac k of qu o r u m EXECUTIVE SESSION The Council will conduct a closed session pursuant to Texas Government Code, annotated, Chapter 551, Subchapter D for the following: a. Section 551.071 (2) Consultation with Attorney on a matter in which the duty of the attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with the is Chapter including but are not limited to the following: Town of Westlake Certificate of Convenience & Necessity (CCN) for water and sewer service. b. Section 551.071(2) Consultation with Attorney - to seek advice of counsel on legal matters involving pending or contemplated litigation, settlement offers, or other legal matters not related directly to litigation or settlement. Pending or contemplated litigation and settlement offers include but are not limited to the following: Trophy Club Municipal District Number 1 Town of Westlake Item # 5 – Executive Session Ca n c e l e d lac k of qu o r u m Town of Westlake Item # 6 – Reconvene Meeting Ca n c e l e d lac k of qu o r u m The Council will conduct a closed session pursuant to Texas Government Code, annotated, Chapter 551, Subchapter D for the following: a. Section 551.071 (2) Consultation with Attorney on a matter in which the duty of the attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with the is Chapter including but are not limited to the following: Town of Westlake Certificate of Convenience & Necessity (CCN) for water and sewer service. b. Section 551.071(2) Consultation with Attorney - to seek advice of counsel on legal matters involving pending or contemplated litigation, settlement off ers, or other legal matters not related directly to litigation or settlement. Pending or contemplated litigation and settlement offers include but are not limited to the following: Trophy Club Municipal District Number 1 Town of Westlake Item # 7 – Take any Necessary Action, if necessary Ca n c e l e d lac k of qu o r u m COUNCIL RECAP / STAFF DIRECTION Town of Westlake Item #8 Council Recap / Staff Direction Ca n c e l e d lac k of qu o r u m Town of Westlake Item # 9 – Workshop Adjournment Back up material has not been provided for this item. Ca n c e l e d lac k of qu o r u m CITIZEN PRESENTATIONS AND RECOGNITIONS: This is an opportunity for citizens to address the Council on any matter whether or not it is posted on the agenda. The Council cannot by law take action nor have any discussion or deliberations on any presentation made to the Council at this time concerning an item not listed on the agenda. The Council will receive the information, ask staff to review the matter, or an item may be noticed on a future agenda for deliberation or action. Town of Westlake Item # 2 – Citizen’s Presentations and recognitions Ca n c e l e d lac k of qu o r u m a. Consider approval of the minutes from the November 11, 2013, meeting. b. Consider approval of Resolution 13-38, Adopting the 2014 Town Council and Board of Trustees meeting calendar. Town of Westlake Item # 3 – Discussion of Consent items Ca n c e l e d lac k of qu o r u m Town Council Minutes 11/11/13 Page 1 of 5 MINUTES OF THE TOWN OF WESTLAKE, TEXAS TOWN COUNCIL MEETING November 11, 2013 PRESENT: Mayor Laura Wheat and Council Members, Michael Barrett, Carol Langdon, Wayne Stoltenberg and Rick Rennhack. Clif Cox arrived at 6:13 p.m. ABSENT: OTHERS PRESENT: Town Manager Tom Brymer, Town Secretary Kelly Edwards, Assistant Town Manager Amanda DeGan, Town Attorney Stan Lowry, Finance Director Debbie Piper, Planning and Development Director Eddie Edwards, Facilities and Recreation Director Troy Meyer, Fire Chief Richard Whitten, Director of Public Works Jarrod Greenwood, Communications & Community Affairs Director Ginger Awtry, Public Works Director Jarrod Greenwood, and Information Technology Director Jason Power. Workshop Session 1. CALL TO ORDER Mayor Wheat called the workshop to order at 5:07 p.m. 2. PLEDGE OF ALLEGIANCE Mayor Wheat led the pledge of allegiance to the United States and Texas flags. 3. REVIEW OF CONSENT AGENDA ITEMS FOR THE NOVEMBER 11, 2013, TOWN COUNCIL REGULAR MEETING AGENDA. Discussion ensued regarding the idling regulations and enforcement. Ca n c e l e d lac k of qu o r u m Town Council Minutes 11/11/13 Page 2 of 5 4. DISCUSSION ITEMS a. Presentation and discussion regarding the process to establish a Public Improvement District (PID) for the Entrada development and the petition submitted to establish. Town Manager Brymer provided an overview and update regarding the Service Area Plan (SAP) and overview of the process to establish the PID for Entrada. Discussion ensued regarding default insurance, the definition of assisted living, debt absorption rate, administrative oversight, reporting process and assessments. b. Discussion regarding the Vision and Mission statements. Assistant Town Manager DeGan provided an update on the Vision and Mission statements and tier one strategy map. Discussion ensued regarding the proposed tagline, value statement, informed and engaged citizens, themes, and the tier one strategy map. c. Discussion regarding the proposed 2014 meeting cal endar. Discussion ensued regarding the additional meeting dates in September and meetings on the 1st and 4th Mondays. d. Standing Item: Update and discussion regarding Westlake Academy Phase I expansion project and enrollment projections. Facilities and Recreation Director Meyer provided an overview and status of the project. 5. EXECUTIVE SESSION The Council did not convene into executive session. The Council will conduct a closed session pursuant to Texas Government Code, annotated, Chapter 551, Subchapter D for the following: a. Section 551.071 (2) Consultation with Attorney on a matter in which the duty of the attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with the is Chapter including but are not limited to the following: Town of Westlake Certificate of Convenience & Necessity (CCN) for water and sewer service. Ca n c e l e d lac k of qu o r u m Town Council Minutes 11/11/13 Page 3 of 5 b. Section 551.071(2) Consultation with Attorney - to seek advice of counsel on legal matters involving pending or contemplated litigation, settlement offers, or other legal matters not related directly to litigation or settlement. Pending or contemplated litigation and settlement offers include but are not limited to the following: Trophy Club Municipal District Number 1 6. RECONVENE MEETING 7. TAKE ANY ACTION, IF NEEDED, FROM EXECUTIVE SESSION ITEMS. 8. COUNCIL RECAP / STAFF DIRECTION Staff continue review of the Balanced Scorecard and tag line revisions as discussed during the workshop. 9. ADJOURNMENT Mayor Wheat adjourned the workshop at 6:28 p.m. Regular Session 1. CALL TO ORDER Mayor called the regular session to order at 6:31 p.m. 2. CITIZEN PRESENTATIONS AND RECOGNITIONS No one addressed the Council. 3. CONSENT AGENDA a. Consider approval of the minutes from the October 28, 2013, meeting. b. Consider approval of Resolution 13-35, Appointing a new member to the Texas Student Housing Authority. c. Consider approval of Resolution 13-36, Appointing new members to the Historical Preservation Society. d. Consider approval of Resolution 13-37, Supporting locally enforced motor vehicle idling limitations for the North Central Texas region. Ca n c e l e d lac k of qu o r u m Town Council Minutes 11/11/13 Page 4 of 5 MOTION: Council Member Rennhack made a motion to approve consent agenda. Council Member Cox seconded the motion. The motion carried by a vote of 4-0. Council Member Stoltenberg was not present for the vote. 4. EXECUTIVE SESSION The Council convened into executive session at 6:31p.m. The Council will conduct a closed session pursuant to Texas Government Code, annotated, Chapter 551, Subchapter D for the following: a. Section 551.071 (2) Consultation with Attorney on a matter in which the duty of the attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with the is Chapter including but are not limited to the following: Town of Westlake Certificate of Convenience & Necessity (CCN) for water and sewer service. b. Section 551.071(2) Consultation with Attorney - to seek advice of counsel on legal matters involving pending or contemplated litigation, settlement offers, or other legal matters not related directly to litigation or settlement. Pending or contemplated litigation and settlement offers include but are not limited to the following: Trophy Club Municipal District Number 1 5. RECONVENE MEETING Mayor Wheat reconvened the meeting at 7:39 p.m. 6. TAKE ANY ACTION, IF NEEDED, FROM EXECUTIVE SESSION ITEMS. MOTION: Council Member Stoltenberg made a motion directing the Town Attorney and Staff to proceed with filing an objection with the Texas Commission of Environmental Quality (TCEQ) regarding a proposed bond issuance by the Trophy Club Municipal Utility District (MUD) and direct Town Staff to work with Texas State Representative Capriglione, the Town of Trophy Club and the Trophy Club MUD to draft a joint statement informing our respective constituents of our collective desire to amicably resolve the issues before the Trophy Club MUD, the Town of Trophy Club and the Town of Westlake . Council Member Cox seconded the motion. The motion carried by a vote of 5-0. 7. FUTURE AGENDA ITEMS 8. COUNCIL CALENDAR Ca n c e l e d lac k of qu o r u m Town Council Minutes 11/11/13 Page 5 of 5 9. ADJOURNMENT There being no further business before the Council, Mayor Wheat asked for a motion to adjourn the meeting. MOTION: Council Member Rennhack made a motion to adjourn the meeting. Council Member Langdon seconded the motion. The motion carried by a vote of 5-0. Mayor Wheat adjourned the meeting at 7:42 p.m. APPROVED BY THE TOWN COUNCIL ON DECEMBER 9, 2013. ATTEST: _____________________________ Laura Wheat, Mayor _____________________________ Kelly Edwards, Town Secretary Ca n c e l e d lac k of qu o r u m Page 1 of 2 estlake Town Council TYPE OF ACTION Regular Meeting - Consent Westlake Town Council Meeting Monday, December 09, 2013 TOPIC: Consider approval of a resolution adopting the 2014 Town Council and Board of Trustees meeting calendar. STAFF CONTACT: Kelly Edwards, Town Secretary DECISION POINTS Start Date Completion Date Timeframe: November 11, 2013 December 9, 2013 Funding: Amount - $0.00 Status- Funded Source- N/A Decision Alignment VVM Perspective Desired Outcome Sense of Place Customer Focus CF.Promote Best Practice Policy Governance Strategic Issue Outcome Strategy Staff Action N/A N/A N/A Strategy Map or VVM Connection Strategic Issue Connection Ca n c e l e d lac k of qu o r u m Page 2 of 2 EXECUTIVE SUMMARY From time to time, the Council/BOT regular meeting schedule requires modification due to holidays and other events that may create a conflict for Council/Board Members and staff to attend Council/Board meetings. Several factors have been taken into consideration as staff prepared the 2014 meeting calendar, including national holidays, school holidays, early voting and annual training conferences. The calendar does not include any meeting dates for the month of July. Meetings are normally scheduled include the Board of Trustees meetings on the 1st Monday of each month and Town Council meetings on the 4th Monday of each month with exceptions of budget workshops or off- site meeting retreats. ORGANIZATIONAL HISTORY/RECOMMENDATION Approve the resolution and one of the two (2) proposed 2014 meeting calendars presented and discussed during the work session. ATTACHMENTS Resolution Ca n c e l e d lac k of qu o r u m Resolution 13-38 Page 1 of 3 TOWN OF WESTLAKE RESOLUTION NO. 13-38 A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF WESTLAKE, TEXAS, ESTABLISHING REGULAR MEETING DATES AND PROCEDURES; SETTING THE 2014 MEETING DATES OF THE TOWN COUNCIL AND BOARD OF TRUSTEES; AND DECLARING AN EFFECTIVE DATE. WHEREAS, The Texas Local Government Code allows the governing body of a general law municipality to establish regular meetings of the governing body by the passage of a resolution; and WHEREAS, The Town Council finds that it is in the best interest of the Council and the Town’s residents that the Council shall establish regular meetings at a convenient date, time, and place; WHEREAS, The 2014 available regular meeting dates are hereby established in accordance with attached Exhibit “A”. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF WESTLAKE, TEXAS: SECTION 1: That, all matters stated in the Recitals hereinabove are found to be true and correct and are incorporated herein by reference as if copied in their entirety. SECTION 2: The Town Council of the Town of Westlake, Texas, and Westlake Academy Board of Trustees shall conduct regularly scheduled meetings on dates and times as established by the Town Council. All Mondays shall be established as a day available for regular meetings as needed. Special meetings shall be called in accordance with Section 22.038(b) of the Texas Local Government Code. The regular Council meetings shall convene not earlier than 6:30 p.m., Board of Trustees meeting shall convene not earlier t han 6:oo p.m., and shall be held at the Town Hall offices located at 3 Village Circle, Westlake, Texas 76262, or a meeting room close by, or another location designated by the Town in the meeting notice. Work sessions or planning meetings of the Town Council or Board of Trustees may begin earlier than the regular meeting time. SECTION 3: The Town Council hereby sets the 2014 regular meeting schedules as shown in the attached Exhibit “A”. SECTION 4: If any portion of this Resolution 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 Resolution without the invalid provision. Ca n c e l e d lac k of qu o r u m Resolution 13-38 Page 2 of 3 SECTION 5: That this resolution shall become effective from and after its date of passage. PASSED AND APPROVED ON THIS 9th DAY OF DECEMBER 2013. ___________________________________ Laura Wheat, Mayor ATTEST: ___________________________________ ___________________________________ Kelly Edwards, Town Secretary Thomas E. Brymer, Town Manager APPROVED AS TO FORM: ____________________________________ L. Stanton Lowry, Town Attorney Ca n c e l e d lac k of qu o r u m Resolution 13-38 Page 3 of 3 Exhibit A Ca n c e l e d lac k of qu o r u m EXECUTIVE SESSION The Council will conduct a closed session pursuant to Texas Government Code, annotated, Chapter 551, Subchapter D for the following: a. Section 551.071 (2) Consultation with Attorney on a matter in which the duty of the attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with the is Chapter including but are not limited to the following: Town of Westlake Certificate of Convenience & Necessity (CCN) for water and sewer service. b. Section 551.071(2) Consultation with Attorney - to seek advice of counsel on legal matters involving pending or contemplated litigation, settlement offers, or other legal matters not related directly to litigation or settlement. Pending or contemplated litigation and settlement offers include but are not limited to the following: Trophy Club Municipal District Number 1 Town of Westlake Item # 4 – Executive Session Ca n c e l e d lac k of qu o r u m Town of Westlake Item # 5 – Reconvene Meeting Ca n c e l e d lac k of qu o r u m The Council will conduct a closed session pursuant to Texas Government Code, annotated, Chapter 551, Subchapter D for the following: a. Section 551.071 (2) Consultation with Attorney on a matter in which the duty of the attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with the is Chapter including but are not limited to the following: Town of Westlake Certificate of Convenience & Necessity (CCN) for water and sewer service. b. Section 551.071(2) Consultation with Attorney - to seek advice of counsel on legal matters involving pending or contemplated litigation, settlement off ers, or other legal matters not related directly to litigation or settlement. Pending or contemplated litigation and settlement offers include but are not limited to the following: Trophy Club Municipal District Number 1 Town of Westlake Item # 6 – Take any Necessary Action, if necessary Ca n c e l e d lac k of qu o r u m FUTURE AGENDA ITEMS: Any Council member may request at a workshop and / or Council meeting, under “Future Agenda Item Requests”, an agenda item for a future Council meeting. The Council Member making the request will contact the Town Manager with the requested item and the Town Manager will list it on the agenda. At the meeting, the requesting Council Member will explain the item, the need for Council discussion of the item, the item’s relationship to the Council’s strategic priorities, and the amount of estimated staff time necessary to prepare for Council discussion. If the requesting Council Member receives a second, the Town Manager will place the item on the Council agenda calendar allowing for adequate time for staff preparation on the agenda item. - None Town of Westlake Item #7 - Future Agenda Items Ca n c e l e d lac k of qu o r u m COUNCIL CALENDAR  Westlake Employee Award & Christmas Dinner December 6, 2013; 6:30 pm (may be rescheduled due to inclement weather) Ft. Worth Stockyards-Billy Bob’s Club 81 Banquet Hall  Town Council Meeting December 9, 2013  Shoulder to Shoulder & WA- Parent Informational Meeting December 10, 2013; 7:00 pm WA Performance Hall  Westlake Comp Plan Steering Committee Meeting December 11, 2013; 6:00 pm Council Chambers/Courtroom  Last Day for Christmas is for Children donations to be dropped off December 13, 2013; Donations accepted until noon at Westlake Firehouse-2900 Dove Road  Carter Blood Drive at Westlake Academy December 16, 2013; 8:30 am – 2:30 pm Lee Arts & Sciences Center; Sponsored by NHS  Westlake Academy Winter Break December 23, 2013 - January 6, 2014  Town Offices Closed; in observance of Christmas December 24-25, 2013  Town Offices Closed; in observance of New Year’s Day January 1, 2014 Town of Westlake Item # 8 – Council Calendar Ca n c e l e d lac k of qu o r u m Town of Westlake Item # 9 – Adjournment Back up material has not been provided for this item. Ca n c e l e d lac k of qu o r u m