Ord 2020-037/approved an update to the Service and Assessment Plan for the Whisper Public Improvement District; making a finding of special benefit to the property in the district, levying additional assessments against property with the district; establi

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#4 are shown on Exhibit G -S. The projected Annual Installments forTract #5 are shown on Exhibit G-6. In no case will the Assessment exceed the Maximum Assessment. 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 equal $14,869,722 as shown on Exhibit C; and • The Assessed Property receives special benefit equal to or greater than the Authorized Improvements; and • Tract #1, Tract #2, Tract #3, Tract #4 and Tract #5 comprise 100% of the Assessed Property, and will be allocated 100% of the Assessments levied for the Authorized Improvements, which equals $14,075,000 as shown on the Assessment Roll, attached as Exhibit F; and • The special benefit (>_ $14,869,722) received by the Assessed Property from the Authorized Improvements is greater than the amount of Assessments ($14,075,000) levied on the Assessed Property for the Authorized Improvements; and • At the time the City Council approved this Service and Assessment Plan, the Owners owned 100% of Tract #1, Tract #2, Tract #3, Tract #4 and Tract #5. In a Landowner Agreement with the City, the Owners acknowledged that the Authorized Improvements confer a special benefit on Tract #1, Tract #2, Tract #3, Tract #4 and Tract #5 and consented to the imposition of the Assessments to pay for the Actual Costs associated therewith. The Owners 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 Assessed Property. 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. 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. iiiiuiiu��i��uuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu�uu�i�uom�ui��u�� iu�uiiiiuuu� �uiui�iu•uiioiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiu�uuiui�u�iuuummoiuou�i�uioiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii�u�iuiuiuiuuiuiumuuxl�i��i��i�i�i��ii•uiiiiimiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiuiiuiuiui�iuiiuuuuu�u�iui�iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii�uiiuiiii�iuiuuiuimum�i�u�iiiioiiiiuiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii�iuiui i i i i u u i u WHISPER PID SAP 14