Res 2017-151/approving an agreement with Pidworks, LLC for Public Improvement District Formation and Administrative Services in connection with the Whisper Public Improvement District

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Database Setup • PIDWorks will prepare the initial District database, including parcel information, assessment roll information, amortization schedules by parcel, and District account information. • Prepare automated database allocation methodology based on approved District service and assessment plan. - • Utilize District administration manual to audit initial database setup to ensure compliance with District documents. Website Setup • Prepare website database searchable by property tax ID # for property owners, title companies, mortgage companies, or other interested parties. The search results will provide assessment information, including outstanding principal, annual installment amount, payment information, and a breakdown of the assessment installment by use (principal, interest, reserve fund accounts, administration, etc.) • Prepare "District Information" page for website. Information will include a background of the district formation and bond issuance process, district boundary map, and description of improvements. In addition, PIDWorks will provide a link to District documents. S• BASIC DISTRICT ADMINISTRATION SERVICES Monthly Fee = $1,250 + $1.00 per parcel in District (as shown on most recent assessment roll) ➢ Prepare Annual Service and Assessment Plan Update • If possible, obtain updated construction cost estimates (or actual costs for completed facilities) for District improvements, and update service and assessment plan text and tables. • Update service and assessment plan text and tables as necessary to account for any changes in development plan or land uses. • Update annual District assessment roll o Identify parcel subdivisions, conveyance to owner's associations, changes in land use, and any other information relevant to the levy of special assessments. o Review maps of tax parcels to compilelaudit list of parcels that are within the District for the upcoming bond year. Classify each parcel pursuant to the approved service and assessment plan. o Identify and parcels dedicated to any property types classified as exempt by the service and assessment plan. o Update District database with newly subdivided parcels and property type classifications.