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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o Calculate annual special assessment for each parcel. Verify the sum of annual installments for all parcels in the District is sufficient to meet the annual debt service requirement and administration expenses. o Present preliminary annual assessment roll to City. Upon approval by City, submit final annual assessment roll to County Tax Collector. Provide Public Information Request Support • PIDWorks will respond to any calls and/or emails relating to the District. PIDWorks will only provide -technical answers relating to the annual assessments or the District generally. PIDWorks will not provide any commentary on City policy relating to PIDs. • If the City receives a notice from a property owner alleging an error in the calculation of any matters related to the annual assessment roll for the District, PIDWorks will review and provide a written response to the City. If a calculation error occurred, PIDWorks will take corrective action as required to correct the error. ➢ Delinquency Management • Afterthe end of the annual assessment installment collection period, PIDWorks will prepare a delinquent special assessment report, which details which parcels are delinquent and the amount of delinquency. • PIDWorks will advise the City what action must be taken relating to delinquent parcels, if any, to remain in compliance with the District documents. •:• ADDITIONAL DISTRICT ADMINISTRATION SERVICES Billed at PIDWorks' prevailing hourly rates, which are currently as follows: w a Mona in Princi al $250 Vice President $185 Associate $135 `PIDWorks' hourly rates maybe adjusted from time to time to reflect increased costs o/ labor and/or adding/reclassifying titles. Continuina Disclosure Services (to be performed only f requested by City) • PIDWorks will prepare an annual report as required by the continuing disclosure agreements. • PIDWorks will request from developer the reports due pursuant to the developer disclosure agreement and disseminate these reports pursuant to the disclosure agreement. • Upon notification by any responsible party or if PIDWorks independently becomes aware of such knowledge, PIDWorks will prepare notices of material events covering the events enumerated in the disclosure agreements.