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INTRODUCTION <br />Capitalized terms used inthis Annual Service Plan Update shall have the meanings set forth in <br />the original Service and Assessment Plan approved June 2, 3020L unless the context in which a <br />term iaused clearly requires adifferent meaning. <br />On October 21, 2014, the City Council approved Resolution No. 2014-149R, creating the PID in <br />accordance with the Act to finance certain Authorized Improvements for the benefit of certain <br />property within the PID. <br />On June 3, 2020L the City Council approved the original Service and Assessment Plan and levied <br />$14,300,000 in Assessments to finance the Authorized Improvements to be constructed for the <br />benefit of the Assessed Property within the PID by approving Ordinance No. 2020-42. The original <br />Service and Assessment Plan identified the Authorized Improvements to be provided by the PID, <br />the costs of the Authorized improvements, the indebtedness to be incurred for the Authorized <br />Improvements, and the manner of assessing the property in the PID for the costs of the <br />Authorized Improvements. The City also adopted an Assessment Roll identifying the Assessment <br />on each Parcel within the PID, based on the method of assessment identified in the original <br />Service and Assessment Plan. <br />Three Parcels within the District have been sold or are in the process ofbeing sold from the <br />Developer to third parties, and the Developer desires for the Assessments to be reallocated to <br />these Parcels to aid in the sales process. This SAP Update reallocates Assessments from the <br />Parcels shown in the original Service and Assessment Plan to the newly created Parcels resulting <br />from the sale ofthese three Parcels. <br />Pursuant tothe Amt the SAP must bereviewed and updated annually. This annual update will be <br />performed later in2O2l. <br />WHISPER PID 2021ANNUAL SERVICE PLAN UPDATE To <br />a <br />REALLOCATE ASSESSMENTS <br />