Res 2016-150/approving the Landowner Agreement and Notice of Special Assessments Agreement with Highpointe Trace, LLC for the Trace Public Improvement District (PID).

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Section VII THE ASSESSMENT ROLL A. Assessment Roll The City Council has evaluated each Parcel within the Project (based on numerous factors such as the applicable zoning for developable area, the use of proposed Owners Association Property, the Public Property, the types of Public Improvements, and other development factors deemed relevant by the City Council) to determine the amount of Assessed Property within the Parcels. The Assessed Property will be assessed for the special benefits conferred upon the property resulting from the Major Public Improvements and funded by the Major Public Improvement PID Bonds. Table VII -A summarizes the $11,194,308 in special benefit received by the Assessed Property from the Major Public Improvements, the costs of the PID formation, and the Major Improvement Public Improvement PID Bond issuance costs. The par amount of the Major Public Improvement PID Bonds are $11,175,000, which is less than the benefit received by the Assessed Property. The Special Assessment for each Parcel or Lot within the Assessed Property is calculated based on the allocation methodologies described in Section IV -D. The Assessment Roll is attached hereto as Annendix A. As Additional Improvement PID Bonds are issued, this Assessment Roll, located in Annendix A, will be updated to reflect the revised assessments levied on the Parcels and Lots. Wel