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BASIC DISTRICT ADMINISTRATION SERVICES AND FEE <br /> <br />If no bonds are sold: <br />Monthly Fee = $1,500 beginning the first of the month following execution of this Agreement for the first <br />improvement area; and $1,000 per month for each improvement area thereafter. (Proration will occur for <br />st <br />any partial month if not begun on the 1 day of the month.) <br /> <br />If bonds are sold: <br />Monthly Fee amounts will be $2,500 for the first improvement area beginning the first month following <br />the issuance of bonds; and $1,250 per month for each improvement area thereafter. <br /> <br />Improvement Areas and related <br /> <br /> <br />Prepare Annual Service and Assessment Plan Update <br />1. If possible, obtain updated construction cost estimates (or actual costs for completed facilities) for <br />District improvements, and update service and assessment plan text and tables. <br />2. Update service and assessment plan text and tables as necessary to account for any changes in <br />development plan or land uses. <br />3. Update annual District assessment roll. <br />4. Identify parcel subdivisions, conveyance to property owners associations, changes in land use, <br />and any other information relevant to the levy of special assessments. <br />5. Review maps of tax parcels to compile/audit list of parcels that are within the District for the <br />upcoming bond year. Classify each parcel pursuant to the approved service and assessment plan. <br />6. Identify and parcels dedicated to any property types classified as exempt by the service and <br />assessment plan. <br />7. Update District database with newly subdivided parcels and property type classifications. <br />8. Calculate annual special assessment for each parcel. Verify the sum of annual installments for all <br />parcels in the District is sufficient to meet the annual debt service requirement, administration <br />expenses, and any provisions for delinquency or prepayment reserves. <br />9. Calculate other funds available, such as reserve fund income, capitalized interest, and interest <br />income. Reduce annual assessment based on findings according to approved service and <br />assessment plan. <br />10. Present preliminary annual assessment roll to City. Upon approval by City, submit final annual <br />assessment roll to County Tax Collector. <br /> <br />Administration of Bond Funds (if bonds are sold) <br />1. Review and reconcile the account statements for the funds maintained by the trustee. Ensure <br />annual special assessment calculation is compliant with Indenture as it relates to each fund. <br />2. Provide annual summary of all District accounts maintained by Trustee at the time the annual <br />service and assessment plan update is performed. <br /> <br />Provide Public Information Request Support <br />1. If requested, P3Works will respond to any calls and or emails relating to the District. P3Works <br />will only provide technical answers relating to the annual assessments or the District generally. <br />P3Works will not provide any commentary on City policy relating to PIDs. <br />2. If the City receives a notice from a property owner alleging an error in the calculation of any <br />matters related to the annual assessment roll for the District, P3Works will review and provide a <br />written response to the City. If a calculation error occurred, P3Works will take corrective action <br />as required to correct the error. <br /> <br />Version 05.18.2021 6 <br /> <br /> <br />