HomeMy WebLinkAboutRES 020921-R - Westhaven PID CostsRESOLUTION NO. Q ZL29 7-1 - Z
A RESOLUTION OF THE CITY OF GEORGETOWN, TEXAS, DETERMINING
COSTS OF THE PROPOSED PUBLIC IMPROVEMENTS IN THE PARKS AT
WESTHAVEN PUBLIC IMPROVEMENT DISTRICT, APPROVING A
PROPOSED ASSESSMENT ROLL, AND MAKING RELATED FINDINGS AND
DETERMINATIONS, IN ACCORDANCE WITH CHAPTER 372 OF THE TEXAS
LOCAL GOVERNMENT CODE.
WHEREAS, the City of Georgetown, Texas (the "City"), is authorized under Chapter 372 of the
Texas Local Government Code, as amended (the "Act"), to create a public improvement district;
WHEREAS, on or about December 4, 2020, Westhaven77, L.P., a Texas limited partnership, the
Estate of William Bowling Byers, by Mary Herrick, Trustee, and Roland T. Burke, an individual, submitted
and filed with the City Secretary of the City a petition (the "Petition") requesting the establishment of a
public improvement district;
WHEREAS, after providing all notices required by the Act and the Texas Government Code
Chapter 551, the City Council on January 26, 2021 conducted a public hearing to consider comments
for and against the creation of the District and the advisability of the proposed public improvements and,
after closing the public hearing, passed and approved Resolution No. 012621-M (the "PiD Creation
Resolution") authorizing creation of the Parks at Westhaven Public Improvement District ("District");
WHEREAS, in accordance with Section 372.010 of the Act, notice of the resolution creating
the District was published in the Williamson County SUN on February 3, 2021;
WHEREAS, the City has reviewed the Preliminary Service and Assessment Plan attached to
this Resolution as "Exhibit A" and the Proposed Assessment Roll attached to this Resolution as
"Exhibit A" pertaining to the District;
WHEREAS, in accordance with Section 372.016 of the Act, the City Council desires to make
certain determinations and findings with regard to the total cost of the "Authorized Improvements" set
forth in the Preliminary Service and Assessment Plan attached to this Resolution as "Exhibit A";
WHEREAS, in accordance with Section 372.016 of the Act, the City Council also desires to
approve the Proposed Assessment Roll, which is included in the Preliminary Service and Assessment
Plan attached to this Resolution as "Exhibit A," cause the Proposed Assessment Roll to be filed with
the City Secretary, and to direct the City Secretary to make the Proposed Assessment Roll available for
public inspection and publish notice of the City Council's intention to consider the proposed assessments
at a public hearing, all in accordance with the requirements of the Act.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
GEORGETOWN, TEXAS, THAT:
Section 1. The findings set forth in the recitals of this Resolution are found to be true and correct and
are incorporated into this Resolution for all purposes by this reference.
Section 2. The City Council hereby finds, declares, and directs:
(a) Determination of Cost. The cost determinations for the proposed Authorized
Resolution No. 0?-b —L Z 1 f
Parks at Westhaven PID — Determination of Costs of PID Improvements; Proposed Assessment Roll
Page 1 of 3
Improvements set forth in the Preliminary Service and Assessment Plan attached to this
Resolution as "Exhibit A" are hereby approved.
(b) Proposed Assessment Roll. The Proposed Assessment Roll included in the
Preliminary Service and Assessment Plan attached to this Resolution as "Exhibit A,"
stating the assessment against each parcel of assessable land in the District as determined
by the method of assessment set forth in said Preliminary Service and Assessment Plan is
hereby approved, and the City Council declares that the Proposed Assessment Roll is
hereby filed with the City Secretary. The City Council hereby directs the City Secretary
to make the Proposed Assessment Roll available for public inspection and publish notice
of the City Council's intention to consider the proposed assessments at a public hearing,
all in accordance with the requirements of the Act.
c) Estimated Appraised Value.. The estimated current appraised value of taxable real
property liable for assessment in the District (as determined by the Williamson Central Appraisal
District for the 2020 market valuation of the four tax parcels comprising the taxable real property
in the District) is as follows:
WCAD Property
Id #
Legal Description
WCAD 2020
Market Value
R040525
AW0545 AW0545 - Robertson, J. Sur., ACRES 46.24
$1,096,313
R038803
AW0021 ADDISON WM. SUR., ACRES 19.00
$269,854
R432432
AW0545 AW0545 - Robertson, J. Sur., ACRES 29.43
$606.748
R038810
W0021 ADDISON, WM. SUR., ACRES 19.45
$275,346
TOTAL
$2,248,261
The estimated appraised value of taxable real property liable for assessment in the District after
construction of the improvements described in the Preliminary Service and Assessment Plan is
$111,199,000, as estimated by the Owner (as defined in the Preliminary Service and Assessment
Plan).
Section 3. City Council hereby authorizes and directs City Secretary to take the actions described in
Section 2 of this Resolution and authorizes and directs staff to prepare the required resolutions, ordinances,
agreements, service and assessment plan, assessment roll and other documents necessary for the City
Council to effectuate the PID Creation Resolution and this Resolution.
Section 4. This Resolution shall take effect immediately from and after its passage.
EXHIBIT LIST:
Exhibit A — Preliminary Service and Assessment Plan (including the Proposed Assessment Roll)
Resolution No. 0Z.09
Parks at Westhaven PID — Determination of Costs of PID Improvements; Proposed Assessment Roll
Page 2 of 3
PASSED AND APPROVED on this
ATTEST:
By:
Robyn Den lore. City Secretary
APPROVED AS TO FORM:
By:
5k& Ma on, City Attorney
day of , 2021.
THE CITY A GEORGETOWN, TEXAS
By:
Resolution No. 02octZ I "R-
Parks at Westhaven PID — Determination of Costs of PID Improvements; Proposed Assessment Roll
Page 3 of 3
EXHIBIT A
(Preliminary Service and Assessment Plan — including the Proposed Assessment Roll)
Exhibit B to Resolution No.
Parks at Westhaven — Proposed Assessment Roll
Parks at Westhaven
Public Improvement District
SERVICE AND ASSESSMENT PLAN
JAN UARY 29, 2020
TABLE OF CONTENTS
Tableof Contents............................................................................................................................ I
Introduction....................................................................................................................................
2
SectionI: Definitions.......................................................................................................................
3
Section11: The District......................................................................................................................
9
Section III: Authorized Improvements..................................................................... :......................
9
SectionIV: Service Plan.................................................................................................................
10
Section V: Assessment Plan..........................................................................................................
11
Section VI: Terms of the Assessments..........................................................................................
13
SectionVII: Assessment Roll......................................................................................................... 18
Section VIII: Additional Provisions................................................................................................18
Listof Exhibits...............................................................................................................................
21
Exhibit A — District Legal Description............................................................................................
22
Exhibit B — District Boundary Map................................................................................................
26
Exhibit C—Authorized Improvements..........................................................................................27
ExhibitD — Service Plan — Five Year Plan......................................................................................
28
Exhibit E — Service Plan — Sources and Uses.................................................................................
29
ExhibitF—Assessment Roll...........................................................................................................
30
Exhibit G-1—Annual Installments.................................................................................................
31
Exhibit G-2 — Lot Type 1 Annual Installments...............................................................................
32
Exhibit G-3 — Lot Type 2 Annual Installments...............................................................................
33
Exhibit G-4 — Lot Type 3 Annual Installments...............................................................................
34
Exhibit G-5 — Lot Type Commercial Annual Installments Per Building Square Foot .....................
35
Exhibit H — Maximum Assessment per Lot Type...........................................................................
36
Exhibit I — Map of Authorized Improvements...............................................................................
37
Exhibit J — Lot Type Classification Map.........................................................................................
38
Exhibit K — Notice of PID Assessment Termination......................................................................
39
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 1
INTRODUCTION
Capitalized terms used in this Service and Assessment Plan shall have the meanings given to them
in Section I unless otherwise defined in this Service and Assessment Plan or unless the context in
which a term is used clearly requires a different meaning. Unless otherwise defined, a reference
to a "Section" or an "Exhibit" shall be a reference to a Section of this Service and Assessment Plan
or an Exhibit attached to and made a part of this Service and Assessment Plan for all purposes.
On January 26, 2021 the City passed and approved Resolution No. 012621-M authorizing the
creation of the District in accordance with the PID Act, which authorization was effective upon
publication as required by the PID Act. The purpose of the District is to finance the Actual Costs
of the Authorized Improvements for the benefit of property within the District. The District
contains approximately 113.56 acres within the corporate limits of the City, as described legally
by metes and bounds on Exhibit A and as depicted by the map on Exhibit B.
The PID Act requires a service plan covering a period of at least five years and defining the annual
indebtedness and projected cost of the Authorized Improvements. The Service Plan is contained
in Section IV.
The PID Act requires that the Service Plan include an assessment plan that assesses the Actual
Costs of the Authorized Improvements against Assessed Property within the District based on the
special benefits conferred on such property by the Authorized Improvements. The Assessment
Plan is contained in Section V.
The PID Act requires an Assessment Roll that states the Assessment against each Parcel
determined by the method chosen by the City. The Assessment against each Assessed Property
must be sufficient to pay the share of the Actual Costs apportioned to the Assessed Property and
cannot exceed the special benefit conferred on the Assessed Property by the Authorized
Improvements. The Assessment Roll is contained in Exhibit F.
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 2
SECTION I: DEFINITIONS
"Actual Costs" mean, with respect to Authorized Improvements, the actual costs paid or incurred
by or on behalf of the Owner of the District: (1) to plan, design, acquire, construct, install, and
dedicate such improvements to the City; (2) to prepare plans, specifications (including bid
packages), contracts, and as -built drawings; (3) to obtain zoning, licenses, plan approvals,
permits, inspections, and other governmental approvals; (4) for third -party professional
consulting services including but not limited to, engineering, surveying, geotechnical, land
planning, architectural, landscaping, legal, accounting, and appraisals; (5) of labor, materials,
equipment, fixtures, payment and performance bonds and other construction security, and
insurance premiums; and (6) to implement, administer, and manage the above -described
activities, including a 4% construction management fee. Actual Costs shall not include general
contractor's fees in an amount that exceeds a percentage equal to the percentage of work
completed or construction management fees in an amount that exceeds an amount equal to the
construction management fee amortized in approximately equal monthly installments over the
term of the applicable construction management contract. Amounts expended for costs
described in subsection (3), (4), and (6) above shall be excluded from the amount upon which the
general contractor and construction management fees are calculated.
"Additional Interest" means the amount collected by application of the Additional Interest Rate
if PID Bonds are issued.
"Additional Interest Rate" means the 0.50% additional interest rate charged on an Assessment
as authorized by Section 372.018 of the PID Act.
"Administrator" means the City or the person or independent firm designated by the City who
shall have the responsibility provided in this Service and Assessment Plan, the Indenture, or any
other agreement or document approved by the City Council related to the duties and
responsibility of the administration of the District.
"Annual Collection Costs" mean administrative, organization, maintenance and operation costs
and expenses associated with, or incident to, the administration, organization, maintenance and
operation of the District, including, but not limited to, costs and expenses for: (1) the
Administrator and City staff; (2) legal counsel, engineers, accountants, financial advisors, and
other consultants engaged by the City; (3) calculating, collecting, and maintaining records with
respect to Assessments and Annual Installments; (4) preparing and maintaining records with
respect to Assessment Rolls and Annual Service Plan Updates; (5) paying, and redeeming PID
Bonds if issued; (6) investing or depositing Assessments and Annual Installments; (7) complying
with this Service and Assessment Plan and the PID Act with respect to the administration of the
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 3
District, including continuing disclosure requirements; and (8) the paying agent/registrar and
Trustee in connection with PID Bonds, if issued, including their respective legal counsel. Annual
Collection Costs collected but not expended in any year shall be carried forward and applied to
reduce Annual Collection Costs for subsequent years.
"Annual Installment" means the annual installment payment of an Assessment as calculated by
the Administrator and approved by the City Council, that may include: (1) principal; (2) interest;
(3) Annual Collection Costs; and (4) Additional Interest, if applicable.
"Annual Service Plan Update" means an update to this Service and Assessment Plan prepared
no less frequently than annually by the Administrator and approved by the City Council, in
accordance with the PID Act.
"Assessed Property" means any Parcel within the District that benefits from the Authorized
Improvements and on which an Assessment is levied as shown on the Assessment Roll and which
includes any and all Parcels within the District other than Non-Benefitted Property.
"Assessment" means an assessment levied against a Parcel and imposed pursuant to an
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 in the PID Act.
"Assessment Ordinance" means the ordinance adopted by the City Council in accordance with
the PID Act that approves the Service and Assessment Plan and levies the Assessment on
Assessed Property within the District, as shown on any Assessment Roll.
"Assessment Plan" means the methodology employed to assess the Actual Costs of the
Authorized Improvements against Assessed Property within the District based on the special
benefits conferred on such property by the Authorized Improvements, as more specifically
described in Section V.
"Assessment Roll" means the assessment roll for the Assessed Property within the District and
included in this Service and Assessment Plan as Exhibit F, as updated, modified, or amended from
time to time in accordance with the procedures set forth herein and in the PID Act, including
updates prepared in connection with the issuance of PID Bonds, if issued, or in connection with
any Annual Service Plan Update.
"Authorized Improvements" mean PID Improvements and District Formation and Bond Issuance
Costs but excluding Owner Funded Improvements, as more specifically described in Section III
and depicted on Exhibit C.
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 4
"City" means the City of Georgetown, Texas.
"City Council" means the governing body of the City.
"County" means Williamson County, Texas.
"Delinquent Collection Costs" mean, for an Assessed Property, interest, penalties, and other
costs and expenses authorized by the PID Act that directly or indirectly relate to the collection of
delinquent Assessments, delinquent Annual Installments, or any other delinquent amounts due
under this SAP, including costs and expenses to foreclose liens.
"District" means the approximately 113.56 acres within the corporate limits of the City, as
described legally by metes and bounds on Exhibit A and as depicted by the map on Exhibit B.
"District Formation and Bond Issuance Costs" mean the costs associated with forming the
District and issuing PID Bonds, if issued, including but not limited to attorney fees, financial
advisory fees, consultant fees, appraisal fees, printing costs, publication costs, City costs,
capitalized interest, reserve fund requirements, first year's Annual Collection Costs, underwriter
discount, fees charged by the Texas Attorney General, and any other cost or expense directly
associated with the establishment of the District and/or the issuance of PID Bonds, if such bonds
are issued.
"Estimated Buildout Value" means the estimated buildout value of an Assessed Property at the
time Assessments are levied, and shall be determined by the Administrator and confirmed by the
City Council by considering such factors as density, lot size, proximity to amenities, view
premiums, location, market conditions, historical sales, builder contracts, discussions with
homebuilders, reports from third party consultants, or any other information that may impact
value.
"Indenture" means an Indenture of Trust entered into in connection with the issuance of PID
Bonds, as amended or supplemented from time to time, between the City and the Trustee setting
forth terms and conditions related to the PID Bonds, if issued.
"Initial Parcel" means all of the area within the District as generally described by metes and
bounds in Exhibit A and shown on the map on Exhibit B, consisting of approximately 113.56
acres.
"Landowner Agreement" means that certain Landowner Agreement between the City and
Owner dated , 2021, as may be further amended.
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 5
"Lot" means (1) for any portion of the District for which a subdivision plat has been recorded in
the official public records of the County, a tract of land described as a "lot" in such subdivision
plat, and (2) for any portion of the District for which a subdivision plat has not been recorded in
the official public records of the County, a tract of land anticipated to be described as a "lot" in a
final recorded subdivision plat as shown on a concept plan or preliminary plat.
"Lot Type" means a classification of final building Lots with similar characteristics (e.g. lot size,
home product, buildout value, etc.), as determined by the Administrator and confirmed and
approved by the City Council. In the case of single-family residential Lots, the Lot Type shall be
further defined by classifying the residential Lots by the Estimated Buildout Value of the Lot as
calculated by the Administrator and confirmed and approved by the City Council.
"Lot Type 1" means a Lot designated as a 45' duplex residential lot by the Owner, as shown on
the map attached as Exhibit J.
"Lot Type 2" means a Lot designated as a 47' residential lot by the Owner, as shown on the map
attached as Exhibit J.
"Lot Type 3" means a Lot designated as a 52' residential lot by the Owner, as shown on the map
attached as Exhibit J.
"Lot Type Commercial" means a Lot designated as a commercial lot by the Owner, as shown on
the map attached as Exhibit J.
"Maximum Assessment" means the amount shown for each Lot Type on Exhibit H. The
Maximum Assessment shall be reduced annually by the principal portion of the Annual
Installment.
"Non-Benefitted Property" means Parcels within the boundaries of the District that accrue no
special benefit from Authorized Improvements as determined by the City Council.
"Owner" means Westinghouse 77, L.P., and any successor owner of property within the District,
or any portion thereof.
"Owner Funded Improvements" mean the improvements that are funded entirely by the Owner
and are not eligible for repayment by Assessments.
"Parcel(s)" means a property within the boundaries of the District, identified by either a tax map
identification number assigned by the Williamson Central Appraisal District for real property tax
purposes, by metes and bounds description, by lot and block number in a final subdivision plat
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 6
recorded in the official public records of the County, or by any other means as determined by the
City Council.
"PID Act" means Chapter 372, Texas Local Government Code, as amended.
"PID Bonds" mean any bonds issued in accordance with the PID Act, if applicable, that are
secured by Assessments.
"PID Improvements" mean improvements authorized by Section 372.003 of the PID Act that
confer a special benefit to the Assessed Property and are eligible to be repaid with Assessments.
These improvements are specifically described in Section III.A and are shown on Exhibit C.
"Prepayment" means the payment of all or a portion of an Assessment before the due date
thereof. Amounts received at the time of a Prepayment which represent a payment of principal,
interest, or penalties on a delinquent installment of Assessment are not to be considered a
Prepayment, but rather are to be treated as a payment of the regularly scheduled Assessment.
"Prepayment Costs" mean interest, including Additional Interest (if applicable), and Annual
Collection Costs incurred up to the date of Prepayment.
"Reimbursement Agreement" means that certain "PID Construction, Financing, and
Reimbursement Agreement Parks at Westhaven Public Improvement District" effective
entered into by and between the City and Owner, whereby all or a portion of the Actual
Costs not paid to Owner from PID Bonds, if issued, will be paid to the Owner from Assessments
to reimburse the Owner for Actual Costs paid by the Owner, plus interest, that are eligible to be
paid with Assessments.
"Reimbursement Obligation" means an amount not to exceed $7,725,000 payable from
Assessments to be paid to Owner pursuant to the Reimbursement Agreement, but excluding any
payments from the net proceeds of PID Bonds.
"Remaining Property" shall have the meaning assigned to such term in Section VI.F.
"Service and Assessment Plan" or "SAP" means this Service and Assessment Plan as it may be
modified, amended, supplemented, and updated from time to time.
"Service Plan" covers a period of at least five years and defines the annual indebtedness and
projected costs of the Authorized Improvements, more specifically described in Section IV.
"Taken Property" shall have the meaning assigned to such term in Section VI.F.
"Taking" shall have the meaning assigned to such term in Section VI.F.
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 7
"Trigger Date" means, for each Parcel, the earlier of: (1) the date a final plat is filed and recorded
in the real property records of the County which creates the Parcel, or (2) the date PID Bonds
secured by Assessments levied on the Parcel are issued. If the Trigger Date occurs on or before
July 315t of the then current year, then Assessments will be due the January 315Y of the following
year. If the Trigger Date occurs after July 315Y of the then current year, then the Assessments will
be due on the second January 3151 following the Trigger Date.
"Trustee" means the trustee (or successor trustee) under an Indenture.
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN
SECTION II: THE DISTRICT
The District includes approximately 113.56 acres within the corporate limits of the City, as
described legally by metes and bounds on Exhibit A and as depicted by the map on Exhibit B.
Development of the District is anticipated to include 401 single-family homes and approximately
15,943 square feet of commercial space, as well as associated rights -of -way, landscaping, and
infrastructure necessary to provide roadways, drainage and utilities to property within the
District.
SECTION III: AUTHORIZED IMPROVEMENTS
J
The City, based on information provided by the Owner and its engineer and review by the City
staff and by third -party consultants retained by the City, determined that the Authorized
Improvements confer a special benefit on the Assessed Property. PID Improvements will be
designed and constructed in accordance with City standards and will be owned and operated by
the City once accepted unless specifically stated below. The budget for the Authorized
Improvements, as well as the allocation of the Actual Costs of the Authorized Improvements, is
shown on Exhibit C.
A. PID Improvements
Paving
Improvements including all concrete and reinforcing steel for roadways, testing,
handicapped ramps and paving needed to create roadways. The paving improvements in
combination with the earthwork improvements will provide street access to each Lot
within the District.
Water
Improvements including trench excavation and embedment, trench safety, PVC piping,
manholes, service connections, testing, related earthwork, excavation, and erosion
control and all necessary appurtenances required to provide water service to all Lots
within the District.
■ Sanitary Sewer
Improvements including trench excavation and embedment, trench safety, PVC piping,
manholes, service connections, testing, related earthwork, excavation, and erosion
control and all necessary appurtenances required to provide wastewater service to all
Lots within the District.
N Parkland
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 9
Improvements including earthwork, demolition, irrigation and all necessary construction
needed to create and improve parkland within the District.
B. District Formation and Bond Issuance Costs
• Debt Service Reserve Requirement
Equals the amount required to fund a reserve under the Indenture in connection with the
issuance of PID Bonds, if issued. This amount may be updated or revised at the time of
issuance if PID Bonds are issued.
• Capitalized Interest
Equals the amount of capitalized interest available for payment of interest on PID Bonds,
if issued, as reflected in the Indenture. This amount may be updated or revised at the
time of issuance if PID Bonds are issued.
• Underwriter's Discount
Equals a percentage of the par amount of a particular series of PID Bonds, if issued, and
includes a fee for underwriter's counsel. This amount may be updated or revised at the
time of issuance if PID Bonds are issued.
• Cost of Issuance
Costs associated with issuing PID Bonds, if issued, including but not limited to attorney
fees, financial advisory fees, consultant fees, appraisal fees, printing costs, publication
costs, City costs, fees charged by the Texas Attorney General, and any other cost or
expense directly associated with the issuance of PID Bonds. This amount may be updated
or revised at the time of issuance if PID Bonds are issued.
• First Year Annual Collection Costs
Estimated 1st year Annual Collection Costs.
SECTION IV: SERVICE PLAN
The PID Act requires the Service Plan to cover a period of at least five years. The Service Plan is
required to define the projected costs and annual indebtedness for the Authorized
Improvements undertaken within the District during the five-year period. The Service Plan shall
be updated in each Annual Service Plan Update. Exhibit D summarizes the Service Plan for the
District.
Exhibit E summarizes the sources and uses of funds required to construct certain Authorized
Improvements. If PID Bonds are issued, Exhibit E will be updated to show the amount required
to fund the required reserves and issue the PID Bonds at the time the PID Bonds are issued. The
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 10
sources and uses of funds shown on Exhibit E shall be updated in each Annual Service Plan
Update.
SECTION V: ASSESSMENT PLAN
The PID Act requires the City to apportion the Actual Costs of the Authorized Improvements to
the Assessed Property based on the special benefit received from the Authorized Improvements.
The PID Act provides that such costs may be apportioned: (1) equally per front foot or square
foot; (2) according to the value of property as determined by the City, with or without regard to
improvements constructed on the property; or (3) in any other manner approved by the City that
results in imposing equal shares of such costs 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.
This section of this Service and Assessment Plan describes the special benefit received by each
Assessed Property within the District as a result of the Authorized Improvements and provides
the basis and justification for the determination that this special benefit exceeds the amount of
the Assessments levied on the Assessed Property for such Authorized Improvements.
The determination by the City of the assessment methodologies set forth below is the result of
the discretionary exercise by the City Council of its legislative authority and governmental
powers and is conclusive and binding on the Owner and all future owners and developers of the
Assessed Property.
A. Assessment Methodology
The City Council, acting in its legislative capacity based on information provided by the Developer
and its engineer and reviewed by the City staff and by third -party consultants retained by the
City, has determined that the costs of the Authorized Improvements shall be allocated entirely
to the Initial Parcel. Upon subdivision of the Initial Parcel, the Actual Costs of the Authorized
Improvements shall be reallocated based on Estimated Buildout Value as further described in
Section VI.
B. Assessments
Assessments will be levied on the Initial Parcel according to the Assessment Roll, attached hereto
as Exhibit F. The projected Annual Installments are shown on Exhibit G-1, subject to revisions
made during any Annual Service Plan Update.
Upon subdivisions of the Initial Parcel by final plat, the Maximum Assessment for each Lot Type
is shown on Exhibit H. In no case will the Assessment for any Lot Type exceed the Maximum
Assessment.
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 11
Collection of the Annual Installments for a Parcel are deferred until the Trigger Date has been
reached for each respective Parcel. If the Trigger Date occurs on or before July 315Y of a given
year, then Assessments levied on the Parcel, including the Annual Installments thereof, will be
delinquent if not paid on or before the January 315t of the following year. If the Trigger Date
occurs after July 315t of a given year, then Assessments levied on the Parcel, including the Annual
Installments thereof, will be delinquent if not paid on or before the second January 315t following
the Trigger Date. Prior to the collection of the other components of Annual Installments for a
Parcel, the City will collect Annual Collection Costs as described in Section V.D.
C. Findings of Special Benefit
The City Council, acting in its legislative capacity based on information provided by the Owner
and its engineer and reviewed by the City staff and by third -party consultants retained by the
City, has found and determined:
■ The cost of the Authorized Improvements equals $10,834,219 as shown on Exhibit C;
and
• The Initial Parcel receives special benefit equal to or greater than the Authorized
Improvements; and
■ The Initial Parcel was allocated 100% of the Assessments levied for the Authorized
Improvements, which equals $7,725,000 as shown on Exhibit F; and
• The special benefit (>_ $10,834,219) received by the Initial Parcel from the Authorized
Improvements is greater than the amount of Assessments ($7,725,000) levied on the
Initial Parcel for the Authorized Improvements; and
• At the time the City Council approved the Assessment Ordinance, the Owner owned
100% of the Initial Parcel. In a Landowner Agreement with the City, the Owner
acknowledged that the Authorized Improvements confer a special benefit on the
Initial Parcel and consented to the imposition of the Assessments to pay for the Actual
Costs associated therewith. The Owner ratified, confirmed, accepted, agreed to, and
approved (1) the determinations and findings by the City Council as to the special
benefits described herein and in the Assessment Ordinance, (2) the Service and
Assessment Plan and the Assessment Ordinance, and (3) the levying of the
Assessments on the Initial Parcel.
D. Annual Collection Costs
The Annual Collection Costs shall be paid for on a pro rata basis by each Assessed Property
based on the amount of outstanding Assessment remaining on the Assessed Property.
Prior to the Trigger Date for the collection of Annual Installments for a given Parcel, the
Annual Collection Costs shall be billed and collected in the same manner as Annual
Installments in the amounts set forth in each Annual Service Plan Update. Following the
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 12
Trigger Date for the collection of Annual Installments, the Annual Collection Costs 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.
E. Additional Interest
Additional Interest will not be collected as part of the Reimbursement Obligation. If PID
Bonds are issued, the interest rate on Assessments levied on the Assessed Property may
exceed the interest rate on the PID Bonds by the Additional Interest Rate. Additional
Interest shall be collected as part of each Annual Installment and shall be deposited
pursuant to the Indenture.
SECTION VI: TERMS OF THE ASSESSMENTS
A. Reallocation of Assessments
1. Upon Division Prior to Recording of Subdivision Plat
Upon the division of any Assessed Property (without the recording of subdivision plat),
the Administrator shall reallocate the Assessment for the Assessed Property prior to the
division among the newly divided Assessed Properties according to the following formula:
A=Bx(C=D)
Where the terms have the following meanings:
A = the Assessment for the newly divided Assessed Property
B = the Assessment for the Assessed Property prior to division
C = the Estimated Buildout Value of the newly divided Assessed Property
D = the sum of the Estimated Buildout Value for all the newly divided Assessed
Properties
The sum of the Assessments for all newly divided Assessed Properties shall equal the
Assessment for the Assessed Property prior to subdivision. The calculation shall be made
separately for each newly divided Assessed Property. The reallocation of an Assessment
for an Assessed Property that is a homestead under Texas law may not exceed the
Assessment prior to the reallocation. Any reallocation pursuant to this section shall be
reflected in the next Annual Service Plan Update and update to this Service and approved
by the City Council.
2. Upon Subdivision by a Recorded Subdivision Plat
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 13
Upon the subdivision of any Assessed Property based on a recorded subdivision plat, the
Administrator shall reallocate the Assessment for the Assessed Property prior to the
subdivision among the new subdivided Lots based on Estimated Buildout Value according
to the following formula:
A = [B x (C _ D)]/E
Where the terms have the following meanings:
A = the Assessment for the newly subdivided Lot
B = the Assessment for the Parcel prior to subdivision
C = the sum of the Estimated Buildout Value of all newly subdivided Lots with the
same Lot Type
D = the sum of the Estimated Buildout Value for all the newly subdivided Lots
excluding Non-Benefitted Property
E= the number of Lots with the same Lot Type
Prior to the recording of a subdivision plat, the Owner shall provide the City an Estimated
Buildout Value as of the date of the recorded subdivision plat for each Lot created by the
recorded subdivision plat.
The sum of the Assessments for all newly subdivided Lots shall not exceed the Assessment
for the portion of the Assessed Property subdivided prior to subdivision. The calculation
shall be made separately for each newly subdivided Assessed Property. The reallocation
of an Assessment for an Assessed Property that is a homestead under Texas law may not
exceed the Assessment prior to the reallocation. Any reallocation pursuant to this section
shall be reflected in the next Annual Service Plan Update and approved by the City
Council.
3. Upon Consolidation
If two or more Lots or Parcels are consolidated, the Administrator shall allocate the
Assessments against the Lots or Parcels before the consolidation to the consolidated Lot
or Parcel, which allocation shall be approved by the City Council in the next Annual Service
Plan Update.
The Assessment for any resulting Lot will not exceed the Maximum Assessment, shown on Exhibit
H for the applicable Lot Type, and compliance may require a mandatory prepayment of
Assessments pursuant to Section VI.B.
B. True -up of Assessments if Maximum Assessment Exceeded
Prior to the City approving a final subdivision plat, the Administrator will certify that such plat
will not result in the Assessment per Lot for any Lot Type to exceed the Maximum Assessment. If
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 14
the Administrator determines that the resulting Assessment per Lot for any Lot Type will exceed
the Maximum Assessment, then (i) the Assessment applicable to each Lot Type exceeding the
Maximum Assessment shall be reduced to the Maximum Assessment, and (ii) the person or entity
filing the plat shall pay to the City the amount the Assessment was reduced, plus Prepayment
Costs and Delinquent Collection Costs, prior to the City approving the final plat. The City's
approval of a final subdivision plat without payment of such amounts does not eliminate the
obligation of the person or entity filing the plat to pay the amounts referenced in (ii) in the
immediately preceding sentence.
C. Mandatory Prepayment of Assessments
If Assessed Property is transferred to a person or entity that is exempt from payment of the
Assessments, the owner transferring the Assessed Property shall pay to the City or the
Administrator on behalf of the City the full amount of the outstanding Assessment, plus
Prepayment Costs and Delinquent Collection Costs, if any, for such Assessed Property, prior to
the transfer. If the owner of the Assessed Property causes the Assessed Property to become
Non-Benefitted Property, the owner causing the change in status shall pay the full amount of the
outstanding Assessment, plus Prepayment Costs and Delinquent Collection Costs, if any, prior to
the change in status.
D. Reduction of Assessments
If as a result of cost savings or Authorized Improvements not being constructed, the Actual Costs
of completed Authorized Improvements are less than the Assessments, (i) in the event PID Bonds
are not issued, the City Council shall reduce each Assessment on a pro-rata basis such that the
sum of the resulting reduced Assessments for all Assessed Property equals the reduced Actual
Costs, or (ii) in the event PID Bonds are issued, the Trustee shall apply amounts on deposit in the
applicable account of the project fund, relating to the PID Bonds, that are not expected to be
used for purposes of the project fund to redeem outstanding PID Bonds, in accordance with the
applicable Indenture. The Assessments shall not, however, be reduced to an amount less than
the outstanding PID Bonds.
The Administrator shall update (and submit to the City Council for review and approval as part of
the next Annual Service Plan Update) the Assessment Roll and corresponding Annual Installments
to reflect the reduced Assessments.
E. Prepayment of Assessments
The owner of any Assessed Property may pay, at any time, all or any part of an Assessment in
accordance with the PID Act. If PID Bonds are issued, interest costs from the date of prepayment
to the date of redemption of the applicable PID Bonds, if any, may be paid from a reserve
established under the applicable Indenture. If an Annual Installment has been billed prior to the
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN is
Prepayment, the Annual Installment shall be due and payable and shall be credited against the
Prepayment.
If an Assessment is pre -paid in full, with Prepayment Costs: (1) the Administrator shall cause the
Assessment to be reduced to zero and the Assessment Roll to be revised accordingly; (2) the
Administrator shall cause the revised Assessment Roll to be approved by the City Council as part
of the next Annual Service Plan Update; (3) the obligation to pay the Assessment and
corresponding Annual Installments shall terminate; and (4) the City shall provide the owner with
a recordable "Notice of PID Assessment Termination," a form of which is attached as Exhibit K.
If an Assessment is pre -paid in part, with Prepayment Costs: (1) the Administrator shall cause the
Assessment to be reduced and the Assessment Roll revised accordingly; (2) the Administrator
shall cause the revised Assessment Roll to be approved by the City Council as part of the next
Annual Service Plan Update; and (3) the obligation to pay the Assessment and corresponding
Annual Installments shall be reduced to the extent of the Prepayment made.
F. Prepayment as a result of Eminent Domain Proceeding or Taking
Subject to applicable law, if any portion of any Parcel of Assessed Property is taken from an owner
as a result of eminent domain proceedings or if a transfer of any portion of any Parcel of Assessed
Property is made to an entity with the authority to condemn all or a portion of the Assessed
Property in lieu of or as a part of an eminent domain proceeding (a "Taking"), the portion of the
Assessed Property that was taken or transferred (the "Taken Property") shall be reclassified as
Non-Benefitted Property.
For the Assessed Property that is subject to the Taking as described in the preceding paragraph,
the Assessment that was levied against the Assessed Property (when it was included in the Taken
Property) prior to the Taking shall remain in force against the remaining Assessed Property (the
Assessed Property less the Taken Property,) (the "Remaining Property"), following the
reclassification of the Taken Property as Non-Benefitted Property, subject to an adjustment of
the Assessment applicable to the Remaining Property after any required Prepayment as set forth
below. The owner of the Remaining Property will remain liable to pay in Annual Installments, or
payable as otherwise provided by this Service and Assessment Plan, as updated, or the PID Act,
the Assessment that remains due on the Remaining Property, subject to an adjustment in the
Assessment applicable to the Remaining Property after any required Prepayment as set forth
below. Notwithstanding the foregoing, if the Assessment that remains due on the Remaining
Property exceeds the Maximum Assessment, the owner of the Remaining Property will be
required to make a Prepayment in an amount necessary to ensure that the Assessment against
the Remaining Property does not exceed the Maximum Assessment, in which case the
Assessment applicable to the Remaining Property will be reduced by the amount of the partial
Prepayment. If the City receives all or a portion of the eminent domain proceeds (or payment
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 16
made in an agreed sale in lieu of condemnation), such amount shall be credited against the
amount of prepayment, with any remainder credited against the assessment on the Remainder
Property.
In all instances the Assessment remaining on the Remaining Property shall not exceed the
Maximum Assessment.
By way of illustration, if an owner owns 100 acres of Assessed Property subject to a $100
Assessment and 10 acres is taken through a Taking, the 10 acres of Taken Property shall be
reclassified as Non-Benefitted Property and the remaining 90 acres of Remaining Property shall
be subject to the $100 Assessment, (provided that this $100 Assessment does not exceed the
Maximum Assessment on the Remaining Property). If the Administrator determines that the
$100 Assessment reallocated to the Remaining Property would exceed the Maximum
Assessment on the Remaining Property by $10, then the owner shall be required to pay $10 as a
Prepayment of the Assessment against the Remaining Property and the Assessment on the
Remaining Property shall be adjusted to be $90.
Notwithstanding the previous paragraphs in this subsection (F), if the owner of the Taken
Property notifies the City and the Administrator that the Taking prevents the Remaining Property
from being developed for any use which could support the Estimated Buildout Value
requirement, the owner shall, upon receipt of the compensation for the Taken Property, be
required to prepay the amount of the Assessment required to buy down the outstanding
Assessment to the Maximum Assessment on the Remaining Property to support the Estimated
Buildout Value requirement. Said owner will remain liable to pay the Annual Installments on both
the Taken Property and the Remaining Property until such time that such Assessment has been
prepaid in full.
Notwithstanding the previous paragraphs in this subsection (F), the Assessments shall not,
however, be reduced to an amount less than the outstanding PID Bonds.
G. Payment of Assessment in Annual Installments
Assessments that are not paid in full shall be due and payable in Annual Installments. Exhibit G-
1 shows the projected Annual Installments for the District. Exhibit G-2 shows the projected
Annual Installments for Lot Type 1. Exhibit G-3 shows the projected Annual Installments for Lot
Type 2. Exhibit G-4 shows the projected Annual Installments for Lot Type 3. Exhibit G-5 shows
the projected Annual Installments for Lot Type Commercial. In no case will the Assessment for
any Lot Type exceed the Maximum Assessment. Annual Installments are subject to adjustment
in each Annual Service Plan Update.
The Administrator shall prepare and submit to the City Council for its review and approval an
Annual Service Plan Update to allow for the billing and collection of Annual Installments. Each
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 17
Annual Service Plan Update shall include updated Assessment Rolls and updated calculations of
Annual Installments. Annual Collection Costs shall be allocated pro rata among Assessed
Properties for which the Assessments remain unpaid in proportion to the amount of the Annual
Installments for the Assessed Property. Annual Installments shall be collected by the City in the
same manner and at the same time as ad valorem taxes. Annual Installments shall be subject to
the penalties, procedures, and foreclosure sale in case of delinquencies as set forth in the PID Act
and in the same manner as ad valorem taxes for the City. The City Council may provide for other
means of collecting Annual Installments. Assessments shall have the lien priority specified in the
PID Act. For billing purposes only, until a plat has been recorded within the Initial Parcel, the
Annual Installment will be billed to each property ID within the Initial Parcel based on the
Williamson Central Appraisal District acreage.
Sales of the Assessed Property for nonpayment of Annual Installments shall be subject to the lien
for the remaining unpaid Annual Installments against the Assessed Property, and the Assessed
Property may again be sold at a judicial foreclosure sale if the purchaser fails to timely pay the
Annual Installments as they become due and payable.
The City reserves the right to refund PID Bonds in accordance with the PID Act, if such bonds are
issued. In the event of a refunding, the Administrator shall recalculate the Annual Installments
so that total Annual Installments will be sufficient to pay the refunding bonds, and the refunding
bonds shall constitute "PID Bonds."
Each Annual Installment of an Assessment, including interest on the unpaid principal of the
Assessment, shall be updated annually. Each Annual Installment shall be due when billed and
shall be delinquent if not paid prior to February 1 of the following year. Failure of an owner of
Assessed Property to receive an invoice for an Annual Installment on the property tax bill or
otherwise shall not relieve the owner of Assessed Property of the obligation to pay the
Assessment. Assessments, or Annual Installments thereof, that are delinquent shall incur
Delinquent Collection Costs.
SECTION VII: ASSESSMENT ROLL
The Assessment Roll is attached as Exhibit F. The Administrator shall prepare and submit to the
City Council for review and approval, proposed revisions to the Assessment Roll and Annual
Installments for each Parcel within the Assessed Property as part of each Annual Service Plan
Update.
SECTION VIII: ADDITIONAL PROVISIONS
A. Calculation Errors
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 18
If the owner of an Assessed Property claims that an error has been made in any calculation
required by this Service and Assessment Plan, including, but not limited to, any calculation made
as part of any Annual Service Plan Update, the sole and exclusive remedy of the owner of
Assessed Property shall be to submit a written notice of error to the Administrator by December
15t of each year following City Council approval of the calculation; otherwise, the owner shall be
deemed to have unconditionally approved and accepted the calculation. Upon receipt of a
written notice of error from an owner the Administrator shall provide a written response to the
City Council and the owner within 30 days of such referral. The City Council shall consider the
owner's notice of error and the Administrator's response at a public meeting, and within 30 days
after adjourning such meeting, the City Council shall make a final determination as to whether
an error has been made. If the City Council determines that an error has been made, the City
Council shall take such corrective action as is authorized by the PID Act, this Service and
Assessment Plan, the applicable Assessment Ordinance, or the applicable Indenture, or is
otherwise authorized by the discretionary power of the City Council. The determination by the
City Council as to whether an error has been made, and any corrective action taken by the City
Council, shall be final and binding on the owner and the Administrator.
B. Amendments
Amendments to this Service and Assessment Plan must be made by the City Council in
accordance with the PID Act. To the extent permitted by the PID Act, this Service and Assessment
Plan may be amended without notice to owners of the Assessed Property: (1) to correct mistakes
and clerical errors; (2) to clarify ambiguities; and (3) to provide procedures to collect
Assessments, Annual Installments, and other charges imposed by this Service and Assessment
Plan.
C. Administration and Interpretation
The Administrator shall: (1) perform the obligations of the Administrator as set forth in this
Service and Assessment Plan; (2) administer the District for and on behalf of and at the direction
of the City Council; and (3) interpret the provisions of this Service and Assessment Plan.
Interpretations of this Service and Assessment Plan by the Administrator shall be in writing and
shall be appealable to the City Council by owners of Assessed Property adversely affected by the
interpretation. Appeals shall be decided by the City Council after providing an opportunity for all
interested parties to be heard at a public meeting of the City Council. Decisions by the City Council
shall be final and binding on the owners and developers and their successors and assigns.
D. Severability
If any provision of this Service and Assessment Plan is determined by a governmental agency or
court to be unenforceable, the unenforceable provision shall be deleted and, to the maximum
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 19
extent possible, shall be rewritten to be enforceable. Every effort shall be made to enforce the
remaining provisions.
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 20
LIST OF EXHIBITS
Exhibit A
District Legal Description
Exhibit B
District Boundary Map
Exhibit C
Authorized Improvements
Exhibit D
Service Plan — Five Year Plan
Exhibit E Service Plan — Sources and Uses
Exhibit F Assessment Roll
Exhibit G-1 Annual Installments
Exhibit G-2 Lot Type 1 Annual Installments
Exhibit G-3 Lot Type 2 Annual Installments
Exhibit G-4 Lot Type 3 Annual Installments
Exhibit G-5 Lot Type Commercial Annual Installments
Exhibit H
Maximum Assessment per Lot Type
Exhibit I
Map of Authorized Improvements
Exhibit J
Lot Type Classification Map
Exhibit K
Notice of PID Assessment Termination
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 21
EXHIBIT A - DISTRICT LEGAL DESCRIPTION j
FIELD NOTES
FOR PID
A 113.56 ACRE TRACT OF LAND, SITUATED IN THE W. ADDISON SURVEY, ABSTRACT NO, 21, AND
IN THE J. ROBERTSON SURVEY, ABSTRACT NO. 545, BEING OUT OF A CALLED 76.670 ACRE TRACT
CONVEYED TO WESTING11OUSE77 LP, RECORDED IN DOCUMENT NO. 2019108008 OF THE
OFFICIAL PUBLIC RECORDS OF WILLIAMSON COUNTY, TEXAS, BEING ALL OF A CALLED 19.00 ACRE
TRACT CONVEYED TO ROLAND T. BURKE RECORDED IN DOCUMENT NO, 2003014353 OF THE
OFFICIAL PUBLIC RECORDS OF WILLIAMSON COUNTY, TEXAS, AS DESCRIBED IN VOLUME 542,
PAGE 521 OF THE DEED RECORDS OF WILLIAMSON COUNTY, TEXAS, AND BEING ALL OF A CALLED
19.45 ACRE TRACT CONVEYED TO WILLIAM BOWLING BYERS ESTATE RECORDED IN DOCUMENT
NO, 2007030759 OF THE OFFICIAL PUBLIC RECORDS OF WILLIAMSON COUNTY, TEXAS, BEING
DESCRIBED IN VOLUME 542, PAGF 627 OF THE DEED RECORDS OF WILLIAMSON COUNTY, TEXAS,
LOCATED IN IN WILLIAMSON COUNTY, TEXAS. SAID 113.56 ACRE TRACT BEING MORE FULLY
DESCRIBED AS FOLLOWS, WITH BEARINGS BASED ON THE NORTH AMERICAN DATUM OF 1983
DNA 2011) EPOCH 2O10,00, FROM THE TEXAS COORDINATE SYSTEM ESTABLISHED FOR THE
CENTRAL 7,ONE:
BEGINNING at a Y? iron rod found on a point in the north right-of-way line of Westinghouse Road
(a.k,a. County Road 111), a variable width right-of-way, said point being the southeast corner of
said 76.670 acre tract, same being the southwest corner of a called 13.00-acre tract conveyed to
Samantha & Justin Kacir, recorded In Document No, 2015061464 of the Official Public Records of
Williamson County, Texas for the southeast corner and POINT OF BEGINNING hereof;
THENCE S 67°37'44" W, wlth the north right-of-way line of said Westinghouse Road, same being
the south boundary line of said 76.670-acre tract, a distance of 699.53 feet to an Iron rod with
cap marked "Bryan Tech Services" found at the southeast corner of a called 0,230•acre tract
conveyed to Continental Homes of Texas, LP, recorded in Document No. 2017076649 of the
Official Public Records of Williamson County, Texas for a southwest corner hereof;
THENCE N 22°22'16" W, departing the north right-of-way line of said Westinghouse Road, with a
west boundary line of the Remnant Portion of said 76,670-acre tract, same being the east
boundary line of said 0.230-acre tract and the east boundary line of a called 0.034-acre tract
conveyed to Continental Homes of Texas, LP, recorded in Document No_ 2017076649 of the
Official Public Records of Williamson County, Texas, a distance of 115.00 feet to an iron rod with
cap marked "Bryan Tech Services" found at the northeast corner of said 0,034-acre tract for the
southwest ell corner hereof;
THENCE S 67'37'44" W, with a south boundary line of the Remnant Portion of said 76.670-acre
tract, same being the north boundary line of said 0.034•acre tract. a distance of 100.00 feet to an
Iron rod with cap marked "Bryan Tech Services" found at a southeast ell corner of said 76,670-
acre tract, same being the northwest earner of said 0.34-acre tract for the southeasl e1I corner
hereof;
THENCE 5 22°22'16" E, with an east boundary line of said 76.670-acre tract, same being the west
boundary line of said 0.034-acre tract and with the west boundary line of said 0.230-acre tract, a
distance of 115.00 feet to an iron rod with cap marked "Bryan Tech Services" found In the north
right-of-way boundary line of said Westinghouse Road, said point being a southeast corner of the
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 22
Page 2 of 4
Remnant Portion of said 76,670-acre tract, also being the southwest corner of said 0.230-acre
tract for the southeast corner hereof;
THENCE S 67°37'44" W, with the north right-of-way line of said Westinghouse Road, same being
the south boundary line of said 76.670-acre tract, a distance of 844.17 feet to a calculated point
for the southwest corner hereof;
THENCE departing the north right-of-way line of said Westinghouse Road, through the interior of
said 76.670-acre tract the following three (3) courses and distances:
1. N 70'12'18" W. a distance of 37.06 feet to a calculated -angle point hereof,
2. N 28'02'54" W, continuing through the interior of said 76,670•acre tract, a distance of
267.61 feet to a calculated angle point hereof, and
3. S 61'51'34" W, a distance of 14.96 feet to a Calculated point in the east right-of-way line
of Maple Street, a variable width right-of-way, same being a 39.069-acre tract of land
conveyed to the City of Georgetown, recorded in Volume 1970, Page 497 of the Deed
Records of 1Vllliarnson County, Texas also being the west boundary line of said 76.670
acre tract for a southwest corner hereof;
THENCE with the easterly right-of-way line of said Maple Street, and being the easterly line of said
39,069-acre tract, In part, same being the westerly line of sold 79.670-acre tract the following
three (3) courses and distances:
1. N 28°02'20" W, a distance of 50.21 feet to an iron rod with cap marked "Bryan Tech
Services" on an angle point hereof,
2. N 62m15'07" E, a distance of 30.20 feet to an iron rod with cap marked "7'XDOT' found on
a for an angle point hereof, and
3. N 28°08'26" W, at a distance of 578.80 feet passing an iron rod with cap marked "TXDOT"
found on a point in the easterly right-of-way line of said Maple street, and being a point
in the easterly line of said 39.069-acre tract, same being a point in the westerly line of
said 79.670-acre tract, continuing through the interior of said 76,670-acre tract for a total
distance of 866-00 feet to a calculated angle point hereof,
THENCE 561"51'34" W, continuing through the interior of said 76.670-acre tract, a distance of
30.16 feet to a calculated point In the easterly right-of-way line of said Maple Street, and being a
point in the easterly line of said 39.069-acre tract, same being a point in the westerly lirie of .said
79.670-acre tract for an angle point hereof,
THENCE N 28009'49" W, the easterly right-of-way line of said Maple Street and being the easterly
line of said 39.069-acre tract, sarrre being the weslerly line of said 79,670-acre tract, a distance of
50.00 feet to a calculated angle point hereof;
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 23
113.56 Acres
Job No. 51095-04
Page 3 of 4
THENCE departing the easterly right-of-way line of said Maple Street and being the easterly line
of said 39,069-acre tract, through the interior of said 76.670-arse tract the following three (3)
courses and distances:
1. N 61"51'34" E, a distance of 30.00 feet to a calculated angle point hereof,
2_ N 28°09'49" W, a distance of 985.63 feet to a calculated angle point hereof, and
3. S 61°50'11" W, a distance of 30.00 feet to a calculated point in the easterly right-of-way
line of said Maple Street, and being a point in the easterly line of said 39.069-acre tract,
same being a point in the westerly line of said 79.670-acre tract for an angle point hereof,
THENCE N 28"09'49" W, the easterly right-of-way line of said Maple Street and being the easterly
line of said 39.069-acre tract, same being the westerly line of said 79.670 acre tract, a distance of
50.00 feet to a calculated angle point hereof,
THENCE departing the easterly right-of-way line of said Maple Street and being the easterly line
of said 39.069-acre tract, through the interior of said 76.670•acre tract the following three (3)
courses and distances:
1. N 61`50'11" E, a distance of 30.00 feet to a calculated angle point hereof,
2. N 28°09'49" W, ad ista noe of 397.22 feet to a calculated angle. point he root, and
3. S 61"50'11" W, a distance of 30.00 feet to a calculated point in the easterly right-of-way
line of said Maple Street and being a point in the easterly line of said 39.069-acre tract,
same being a point in the westerly line of said 79.670-acre tract for an angle point hereof,
THENCE N 28`09'49" W, the easterly right-of-way line of said Maple Street and being the easterly
line of said 39.069-acre tract, same being the westerly line of said 79.670-arse tract, a distance of
50.00feet to a calculated angle point hereof,
THENCE N 61'50'46" E, departing the easterly right -of way line of said Maple Street and being the
easterly line of said 39.069-acre tract, through the interior of said 76,670-acre tract, a distance of
30.01 feet to a calculated angle point hereof,
THENCE N 28"09'53" W, continuing through the interior of said 76,670-acre tract, a distance of
353.83 feet to a calculated point in the north line of .said 76.760-acre tract, same being a point in
the south line of a called 19.038-acre tract conveyed to KB Home Lone Star Inc„ recorded In
Document No. 2020113982 of the Official Public Records of Williamson County, Texas for the
westernmost northwest corner hereof, from which a %" iron rod found on a point in the easterly
right-of-way line of said Maple Street and being the easterly line of said 39.069-acre tract, said
point being the northwest comer of said 76.760 acre tract, same being the .southwest turner of
said 19.03B acre tract bears S 68°20'02" W, 752.96 feet;
THENCE N 68'20'02" E, with a north line of said 76.670-acre tract, same being the south line of
said 19.038-acre tract, a distance of 752.86 feet to a h" Iron rod with yellow cap marked "Pape -
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 24
113,56 Acres
Job No. 51085-04
Page 4 of 4
Dawson" found on a point in the west line of said 19-45-acre tract, said point being the at the
northeast comer of said 76,760-acre tract, same being the southernmost Southeast corner of said
19.038-acre tract for the northwest ell corner hereof;
THENCE. N 20°53'59" W, with the west line of said 19.45 acre tract, same being an east line of said
19.038-acre tract, a distance of 271.05 feet to a X" iron rod found at the northwest corner of said
19.45-acre tract, saute being the southeast ell corner of said 19.038-acre tract for the
northernmost northwest corner hereof;
THENCE N 68032'14" E, with the north line of said 19.45-acre tract, same being a south line of said
19,038-acre tract, a distance of 790.65 feet to a calculated point in the west line of Kasper Section
1q a subdivision according to the plat recorded in Document No. 2020112058 of the Official Public
Records of Williamson County, Texas, said point being the northeast corner of said 19.45-acre
tract, same being, the easternmost southeast corner of said 19,038-acre tract for the easternmost
northeast corner hereof;
THENCE S 21°19'50" E, with the east line of said 19-45-acre tract and the east line of said 19.00-
acre tract, same being the west line of said Kasper, Section 10 and the west line of Kasper, Section
8, a subdivislon according to the plat recorded in Document No. 2019077713 of the Official Public
Records of Williamson County, Texas, a distance of 1576.64 feet to a V iron rod found on an
angle point in the east line of said 19.00-acre tract, same being the west line of said Kasper,
Section 8 for an angle point hereof,
THENCE S 24`07'45" E, with the east lime of said 19.00-acre tract, same being the west line of said
Kasper, Section 8, a distance of 549.54 feet to a W' iron rod found on a point in a north line of said
76.670-acre tract, said point being the southeast corner of said 19-00-acre tract, saine being the
southwest corner of said Kasper, Section 8 for the northeast ell corner hereof,
THENCE N 68°40'56" E, with the north ltnundary line of said 76.670-acre tract, same being the
south boundary Ilne of said Kasper, Section 8 and, in part, with the south boundary line of Kasper,
Section 6B, a subdivision according to the plat recorded in Document No. 2039005990 of the
Official Public Records of Williamson County, Texas, a distance of 453.25 feet to a %_" iron rod
found at the easternmost northeast corner of said 76-670-acre tract, same being the northwest
corner of the aforementioned 13.00-acre tract, also being a point in the south boundary line of
said Kasper, Section 68 for the easternmost northeastcorner hereof;
THENCE S 21"34'30" E, departing the south boundary line of said Kasper, Section fib, with the east
boundary line of the said 76.670-acre tract, same being the west boundary line of said 13,00-•acre
tract, a distance of 1197.55 feet to the POINT OF BEGINNING and containing; 113„56 acres in
Williamson County, Texas, Said tract being described In accordance with an exhibi
under -lob No, 50857-04 by Pape Dawson Fngineers, Inc -
PREPARED BY: Pape -Dawson Englneers, Inc.
DATE: January 6,2021
J013 No.: 51085-04
DDC.ID-: H:\Sunfey\CIVIL\51085-00\Word\FN51085-04_113.5W-I PID.dorx
TBPF Firm Registration lt470
1 BPLS tlrm Registration #100288-01
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 25
EXHIBIT B - DISTRICT BOUNDARY MAP
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PARKS AT WESTHAVEN
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PIT] BOUNDARY
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 26
EXHIBIT C-AUTHORIZED IMPROVEMENTS
PID Improvements
Paving
Water
Sanitary Sewer
Parkland
Owner Funded Improvements
Earthwork
Drainage
Miscellaneous [b]
Contingency
Soft Costs
Bond Issuance Costs & District Formation Expenses
Debt Service Reserve Fund [c]
Capitalized Interest [c]
Underwriter's Discount [c]
Cost of Issuance [c]
First Year Annual Collection Costs
Tota I
Footnotes:
$ 583,439
2,637,867
1,795,254
709,140
$ 4,349,717
$ 4,349,717.37
2,384,130
2,384,130
1,406,747
1,406,747
1,401,000
1,401,000
$ 9,541,594
$ 9,541,594
$ -
$ 583,439
2,637,867
1,795,254
- 709,140
2,127,741
$ 7,853,441
523,750 $ 523,750
231,750 231,750
502,125 502,125
$ $ 1,292,625
$ 7,853,441 $ 10,834,219
[a] Costs were determined per the Engineer's Opinion of Probable Cost prepared by Dustin J. Goss dated 1/7/2021.
[b] Costs include dry utilities, retaining walls, as -built topography and mailboxes.
[c] The amounts shown for Bond Issuance Costs are estimates and are subject to change if PID Bonds are issued.
$ 18,687,660
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 27
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EXHIBIT E - SERVICE PLAN - SOURCES AND USES
Sources of Funds -
Owner Advance [a] $ 7,725,000
Owner Contribution [b] 10,962,660
Total Sources $ 18,687,660
PID Improvements
$
9,541,594
Owner Funded Improvements
7,853,441
$
17,395,035
Bond Issuance Costs & District Formation Expenses
Debt Service Reserve Fund [c]
523,750
Capitalized Interest [c]
-
Underwriter's Discount [c]
231,750
Cost of Issuance [c]
502,125
First Year Annual Collection Costs
35,000
$
1,292,625
Total Uses
$
18,687,660
[a] Reimbursable to Owner pursuant to Reimbursement Agreement.
[b] Not subject to reimbursement to Owner.
[c] The amounts shown for Bond Issuance Costs are estimates and are subject to change if
PID Bonds are issued.
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 29
EXHIBIT F—ASSESSMENT ROLL
[a] Per Williamson Central Appraisal District.
[b] Trigger Date has not yet occurred, Annual Installment is for Annual Collection Costs only.
Note: For billing purposes only, until a plat has been recorded within the Initial Parcel, the Annual Installment will be
billed to each Tax Parcel within the Initial Parcel based on the acreage of the Tax Parcel as calculated by the
Williamson Central Appraisal District.
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 30
EXHIBIT G-1- ANNUAL INSTALLMENTS I
Year 1 [c]
$ 175,000.00
$ 347,625.00 $
- $ 35,000.00
$ 557,625.00
Year 2
180,000.00
339,750.00
- 35,700.00
555,450.00
Year 3
190,000.00
331,650.00
36,414.00
558,064.00
Year 4
200,000.00
323,100.00
37,142.28
560,242.28
Year 5
205,000.00
314,100.00
37,885.13
556,985.13
Year 6
215,000.00
304,875.00
38,642.83
558,517.83
Year 7
225,000.00
295,200.00
39,415.68
559,615.68
Year 8
235,000.00
285,075.00
40,204.00
560,279.00
Year 9
245,000.00
274,500.00
41,008.08
560,508.08
Year 10
260,000.00
263,475.00
41,828.24
565,303.24
Year 11
270,000.00
251,775.00
42,664.80
564,439.80
Year 12
280,000.00
239,625.00
43,518.10
563,143.10
Year 13
295,000.00
227,025.00
44,388.46
566,413.46
Year 14
310,000.00
213,750.00
45,276.23
569,026.23
Year 15
320,000.00
199,800.00
46,181.76
565,981.76
Year 16
335,000.00
185,400.00
47,105.39
567,505.39
Year 17
350,000.00
170,325.00
48,047.50
568,372.50
Year 18
365,000.00
154,575.00
49,008.45
568,583.45
Year 19
385,000.00
138,150.00
49,988.62
573,138.62
Year 20
400,000.00
120,825.00
50,988.39
571,813.39
Year 21
420,000.00
102,825.00
52,008.16
574,833.16
Year 22
435,000.00
83,925.00
53,048.32
571,973.32
Year 23
455,000.00
64,350.00
54,109.29
573,459.29
Year 24
475,000.00
43,875.00
55,191.47
574,066.47
Year 25
500,000.00
22,500.00
56,295.30
578,795.30
Total
$ 7,725,000.00
$ 5,298,075.00 $
- $ 1,121,060.49
$ 14,144,135.49
[a] The interest rate on the Reimbursement Obligation is estimated at a 4.5% rate.
[b] If PID Bonds are issued, additional interest will be charged and collected.
[c] The Annual Installment due date for Year 1 will be determined by the Trigger Date as described in Section
V.B.
Note: The figures shown above are estimates only and subject to change in Annual Service Plan Updates.
Changes in Annual Collection Costs, reserve fund requirements, interest earnings, or other available offsets
could increase or decrease the amounts shown.
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 31
EXHIBIT G-2 - LOT TYPE 1 ANNUAL INSTALLMENTS PER UNIT
Year 1 [c]
$ 376.14
$ 747.17 $
- $ 75.23
$ 1,198.53
Year 2
386.88
730.24
- 76.73
1,193.86
Year 3
408.38
712.83
- 78.27
1,199.48
Year 4
429.87
694.46
- 79.83
1,204.16
Year 5
440.62
675.11
81.43
1,197.16
Year 6
462.11
655.28
83.06
1,200.45
Year 7
483.60
634.49
84.72
1,202.81
Year 8
505.10
612.73
- 86.41
1,204.24
Year 9
526.59
590.00
88.14
1,204.73
Year 10
558.83
566.30
89.90
1,215.04
Year 11
580.33
541.15
91.70
1,213.18
Year 12
601.82
515.04
93.54
1,210.39
Year 13
634.06
487.96
95.41
1,217.42
Year 14
666.30
459.42
- 97.31
1,223.04
Year 15
687.79
429.44
99.26
1,216.49
Year 16
720.03
398.49
101.25
1,219.77
Year 17
752.27
366.09
103.27
1,221.63
Year 18
784.51
332.24
105.34
1,222.09
Year 19
827.50
296.93
107.44
1,231.88
Year 20
859.74
259.70
- 109.59
1,229.03
Year 21
902.73
221.01
111.78
1,235.52
Year 22
934.97
180.38
114.02
1,229.37
Year 23
977.96
138.31
116.30
1,232.57
Year 24
1,020.94
94.30
- 118.63
1,233.87
Year 25
1,074.68
48.36
121.00
1,244.04
Total
$ 16,603.75
$ 11,387.43 $
- $ 2,409.55
$ 30,400.73
[a] The interest rate on the Reimbursement Obligation is estimated at a 4.5% rate.
[b] If PID Bonds are issued, additional interest will be charged and collected.
[c] The Annual Installment due date for Year 1 will be determined by the Trigger Date as
described in Section V.B.
Note: The figures shown above are estimates only and subject to change in Annual Service
Plan Updates. Changes in Annual Collection Costs, reserve fund requirements, interest
earnings, or other available offsets could increase or decrease the amounts shown.
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 32
EXHIBIT G-3 - LOT TYPE 2 ANNUAL INSTALLMENTS PER UNIT
Year 1 [c]
$ 423.35
$ 840.96 $
- $ 84.67
$ 1,348.98
Year 2
435.45
821.90
- 86.36
1,343.71
Year 3
459.64
802.31
- 88.09
1,350.04
Year 4
483.83
781.63
89.85
1,355.31
Year 5
495.92
759.85
- 91.65
1,347.43
Year 6
520.12
737.54
- 93.48
1,351.14
Year 7
544.31
714.13
- 95.35
1,353.79
Year 8
568.50
689.64
- 97.26
1,355.40
Year 9
592.69
664.06
- 99.20
1,355.95
Year 10
628.98
637.38
101.19
1,367.55
Year 11
653.17
609.08
103.21
1,365.46
Year 12
677.36
579.69
105.28
1,362.33
Year 13
713.65
549.21
107.38
1,370.24
Year 14
749.94
517.09
109.53
1,376.56
Year 15
774.13
483.35
111.72
1,369.19
Year 16
810.41
448.51
113.95
1,372.88
Year 17
846.70
412.04
116.23
1,374.98
Year 18
882.99
373.94
118.56
1,375.49
Year 19
931.37
334.20
120.93
1,386.51
Year 20
967.66
292.29
123.35
1,383.30
Year 21
1,016.04
248.75
125.82
1,390.61
Year 22
1,052.33
203.03
- 128.33
1,383.69
Year 23
1,100.71
155.67
130.90
1,387.28
Year 24
1,149.09
106.14
- 133.52
1,388.75
Year 25
1,209.57
54.43
136.19
1,400.19
Total
$ 18,687.90
$ 12,816.81 $
- $ 2,712.01
$ 34,216.72
[a] The interest rate on the Reimbursement Obligation is estimated at a 4.5% rate.
[b] If PID Bonds are issued, additional interest will be charged and collected.
[c] The Annual Installment due date for Year 1 will be determined by the Trigger Date as
described in Section V.B.
Note: The figures shown above are estimates only and subject to change in Annual Service
Plan Updates. Changes in Annual Collection Costs, reserve fund requirements, interest
earnings, or other available offsets could increase or decrease the amounts shown.
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 33
EXHIBIT G-4- LOT TYPE 3 ANNUAL INSTALLMENTS PER UNIT
Year 1 [c]
$ 462.70
$ 919.11 $
$ 92.54
$ 1,474.35
Year 2
475.92
898.29
94.39
1,468.59
Year 3
502.35
876.87
96.28
1,475.51
Year 4
528.79
854.27
- 98.20
1,481.27
Year 5
542.01
830.47
- 100.17
1,472.65
Year 6
568.45
806.08
102.17
1,476.71
Year 7
594.89
780.50
104.21
1,479.61
Year 8
621.33
753.73
- 106.30
1,481.36
Year 9
647.77
725.77
108.42
1,481.97
Year 10
687.43
696.62
110.59
1,494.65
Year 11
713.87
665.69
112.80
1,492.36
Year 12
740.31
633.56
115.06
1,488.94
Year 13
779.97
600.25
117.36
1,497.58
Year 14
819.63
565.15
119.71
1,504.49
Year 15
846.07
528.27
122.10
1,496.44
Year 16
885.73
490.19
- 124.55
1,500.47
Year 17
925.39
450.33
127.04
1,502.76
Year 18
965.05
408.69
- 129.58
1,503.32
Year 19
1,017.93
365.26
132.17
1,515.36
Year 20
1,057.59
319.46
134.81
1,511.86
Year 21
1,110.47
271.87
137.51
1,519.84
Year 22
1,150.13
221.90
- 140.26
1,512.28
Year 23
1,203.01
170.14
143.06
1,516.21
Year 24
1,255.89
116.00
145.92
1,517.82
Year 25
1,321.99
59.49
148.84
1,530.32
Total
$ 20,424.69
$ 14,007.97 $
- $ 2,964.05
$ 37,396.72
[a] The interest rate on the Reimbursement Obligation is estimated at a 4.5% rate.
[b] If PID Bonds are issued, additional interest will be charged and collected.
[c] The Annual Installment due date for Year 1 will be determined by the Trigger Date as
described in Section V.B.
Note: The figures shown above are estimates only and subject to change in Annual Service
Plan Updates. Changes in Annual Collection Costs, reserve fund requirements, interest
earnings, or other available offsets could increase or decrease the amounts shown.
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 34
EXHIBIT G-5 - LOT TYPE COMMERCIAL ANNUAL INSTALLMENTS PER
BUILDING SQUARE FOOT
Year 1 [c]
$
0.30 $
0.59 $
- $ 0.06 $
0.94
Year 2
0.30
0.57
- 0.06
0.94
Year 3
0.32
0.56
- 0.06
0.94
Year 4
0.34
0.55
_ 0.06
0.95
Year 5
0.35
0.53
0.06
0.94
Year 6
0.36
0.52
0.07
0.94
Year 7
0.38
0.50
0.07
0.95
Year 8
0.40
0.48
0.07
0.95
Year 9
0.41
0.46
0.07
0.95
Year 10
0.44
0.45
0.07
0.96
Year 11
0.46
0.43
0.07
0.95
Year 12
0.47
0.41
0.07
0.95
Year 13
0.50
0.38
0.08
0.96
Year 14
0.52
0.36
0.08
0.96
Year 15
0.54
0.34
0.08
0.96
Year 16
0.57
0.31
0.08
0.96
Year 17
0.59
0.29
- 0.08
0.96
Year 18
0.62
0.26
0.08
0.96
Year 19
0.65
0.23
0.08
0.97
Year 20
0.68
0.20
0.09
0.97
Year 21
0.71
0.17
0.09
0.97
Year 22
0.74
0.14
0.09
0.97
Year 23
0.77
0.11
0.09
0.97
Year 24
0.80
0.07
0.09
0.97
Year 25
0.85
0.04
0.10
0.98
Total
$
13.06 $
8.96 $
- $ 1.90 $
23.91
[a] The interest rate on the Reimbursement Obligation is estimated at a 4.5% rate.
[b] If PID Bonds are issued, additional interest will be charged and collected.
[c] The Annual Installment due date for Year 1 will be determined by the Trigger Date as
described in Section V.B.
Note: The figures shown above are estimates only and subject to change in Annual Service
Plan Updates. Changes in Annual Collection Costs, reserve fund requirements, interest
earnings, or other available offsets could increase or decrease the amounts shown.
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 35
EXHIBIT H - MAXIMUM ASSESSMENT PER LOT TYPE
1 54 $ 896,602.35 $16,603.75 per Unit
2 269 $ 5,027,045.01 $18,687.90 per Unit
3 78 $ 1,593,126.08 $20,424.69 per Unit
Commercial 15,943 $ 208,226.55 $13.06 per Building Square Foot
Total $ 7,725,000.00
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 36
EXHIBIT I - MAP OF AUTHORIZED IMPROVEMENTS
[Developer to provide maps of Public Improvements.]
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN
37
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FEXHIBIT K - NOTICE OF PID ASSESSMENT TERMINATION
P3Works, LLC
MKS 9824 Huntington Square, Suite 100
11 North Richland Hills, TX 76182
[Date]
Williamson County Clerk's Office
Honorable [County Clerk Name]
Williamson County Justice Center County Clerk
405 Martin Luther King, Jr. St.
Georgetown, TX 78626
Re: City of Georgetown Lien Release documents for filing
Dear Ms./Mr. [County Clerk Name],
Enclosed is a lien release that the City of Georgetown is requesting to be filed in your office. Lien
release for [insert legal description]. Recording Numbers: [Plat]. Please forward copies of the filed
documents below:
City of Georgetown
Attn: [City Secretary]
808 Martin Luther King, Jr. St.
Georgetown, TX 78626
Please contact me if you have any questions or need additional information.
Sincerely,
[Signature]
Jon Snyder
P: (817) 393-0353
admin@p3-works.com
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 39
AFTER RECORDING RETURN TO:
[City Secretary Name]
808 Martin Luther King, Jr. St.
Georgetown, TX 78626
NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR
STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT
TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC
RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER.
FULL RELEASE OF PUBLIC IMPROVEMENT DISTRICT LIEN
STATE OF TEXAS §
§ KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF WILLIAMSON §
THIS FULL RELEASE OF PUBLIC IMPROVEMENT DISTRICT LIEN (this "Full Release") is
executed and delivered as of the Effective Date by the City of Georgetown, Texas.
RECITALS
WHEREAS, the governing body (hereinafter referred to as the "City Council") of the City
of Georgetown, Texas (hereinafter referred to as the "City "), is authorized by Chapter 372, Texas
Local Government Code, as amended (hereinafter referred to as the "Act"), to create public
improvement districts within the corporate limits and extraterritorial jurisdiction of the City; and
WHEREAS, on or about January 26, 2021, the City Council for the City, approved
Resolution No. 012621-M, creating the Parks at Westhaven Public Improvement District; and
WHEREAS, the Parks at Westhaven Public Improvement District consists of approximately
113.56 contiguous acres located within the City; and
WHEREAS, on or about , the City Council, approved Ordinance No. ,
(hereinafter referred to as the "Assessment Ordinance") approving a service and assessment plan
and assessment roll for the Property within the Parks at Westhaven Public Improvement District;
and
WHEREAS, the Assessment Ordinance imposed an assessment in the amount of $
(hereinafter referred to as the "Lien Amount") for the following property:
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 40
[legal description], a subdivision in Williamson County, Texas, according to the map or plat of
record in Document/Instrument No. _ of the Plat Records of Williamson County, Texas
(hereinafter referred to as the "Property"); and
WHEREAS, the property owners of the Property have paid unto the City the Lien Amount,
RELEASE
NOW THEREFORE, the City, the owner and holder of the Lien, Instrument No. _ , in the
Real Property Records of Williamson County, Texas, in the amount of the Lien Amount against
the Property releases and discharges, and by these presents does hereby release and discharge,
the above -described Property from said lien held by the undersigned securing said indebtedness.
EXECUTED to be EFFECTIVE this the day of __, 20_.
CITY OF GEORGETOWN, TEXAS,
By:
[City Official Name], City Official Title
ATTEST:
[Secretary Name], City Secretary
STATE OF TEXAS §
COUNTY OF WILLIAMSON §
This instrument was acknowledged before me on the day of , 20 , by
[City Official Name], City Official Title for the City of Georgetown, Texas, on behalf of said
municipality.
Notary Public, State of Texas
PARKS AT WESTHAVEN PID SERVICE AND ASSESSMENT PLAN 41
CERTIFICATE FOR RESOLUTION NO.020921-R
THE STATE OF TEXAS §
COUNTY OF WILLIAMSON §
CITY OF GEORGETOWN §
We, the undersigned officers and members of the City of Georgetown, Texas (the
"City"), hereby certify as follows:
1. The City Council of the City convened in REGULAR MEETING ON THE 9Tx
DAY OF FEBRUARY, 2021, (the "Meeting"), and the roll was called of the duly constituted
officers and members of the City, to -wit:
Josh Schroeder, Mayor
Mary Calixtro, Councilmember District 1
Shawn Hood, Councilmember District 2
Mike Triggs, Councilmember District 3
Steve Fought, Councilmember District 4
Kevin Pitts, Councilmember District 5
Rachael Jonrowe, Councilmember District 6
Tommy Gonzalez, Councilmember District 7
and all of the persons were present, except the following absentees: LjGL , thus
constituting a quorum. Whereupon, among other business, the following was transacted at the
Meeting: a written
A RESOLUTION OF THE CITY OF GEORGETOWN, TEXAS, DETERMINING
COSTS OF THE PROPOSED PUBLIC IMPROVEMENTS IN THE PARKS AT
WESTHAVEN PUBLIC IMPROVEMENT DISTRICT, APPROVING A PROPOSED
ASSESSMENT ROLL, AND MAKING RELATED FINDINGS AND
DETERMINATIONS, IN ACCORDANCE WITH CHAPTER 372 OF THE TEXAS
LOCAL GOVERNMENT CODE
was duly introduced for the consideration of the City Council. It was then duly moved and
seconded that the Resolution be passed on first reading; and, after due discussion, said motion
carrying with it the passage of the Resolution, prevailed and carried by the following vote:
AYES: I_
NOES: 0
2. A true, full and correct copy of the Resolution passed at the Meeting described in
the above and foregoing paragraphs is attached to and follows this Certificate; that the
Resolution has been duly recorded in the City Council's minutes of the Meeting; that the above
and foregoing paragraphs are a true, full and correct excerpt from the City Council's minutes of
Parks at Westhaven PID: Cost Determination Resolution Cert
the Meeting pertaining to the passage of the Resolution ; that the persons named in the above and
foregoing paragraphs are the duly chosen, qualified and acting officers and members of the City
Council as indicated therein; that each of the officers and members of the City Council was duly
and sufficiently notified officially and personally, in advance, of the time, place and purpose of
the Meeting, and that the Resolution would be introduced and considered for passage at the
Meeting, and each of the officers and members consented, in advance, to the holding of the
Meetings for such purpose, and that the Meeting was open to the public and public notice of the
time, place and purpose of the meeting was given, all as required by Chapter 551, Texas
Government Code, as amended and as further modified by an order issued by the Governor of
the State of Texas on March 16, 2020, suspending certain provisions of the Open Meetings Act in
light of his disaster proclamation issued on March 13, 2020, regarding the novel coronavirus
(CO VID-19).
3. The Mayor of the City has approved and hereby approves the Ordinance; that the
Mayor and the City Secretary of the City have duly signed the Ordinance; and that the Mayor
and the City Secretary of the City hereby declare that their signing of this Certificate shall
constitute the signing of the attached and following copy of the Resolution for all purposes.
Parks at Westhaven PID: Cost Determination Resolution Cert
SIGNED AND SEALED the 91h day of Februarv, 2021.
City SecretMy
[CITY.SI~ALI
Parks at Westhaven PID: Cost Determination Resolution Cert