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AUTHORIZED IMPROVEMENTS
<br /> The budget for the Authorized Improvements remains at $22,386,420 as shown on the table
<br /> below.
<br /> Public Improvements
<br /> Street Improvements $ 5,788,090 $ 2,255,873 $ 1,224,095 60.1%
<br /> Drainage Improvements 1,272,692 524,980 317,378 66.2%
<br /> Erosion Control/Mobilization&General Conditions 563,672 468,161 307,733 137.6%
<br /> Water Line Distribution 728,070 623,574 353,293 134.2%
<br /> Wastewater 1,026,228 878,431 655,528 149.5%
<br /> Sewer Lift Station 3,967,557 1,741,719 - 43.9%
<br /> Landscaping 2,989,342 985,115 317,330 43.6%
<br /> Public Safety Facilities 500,000 - - 0.0%
<br /> Contingency 1,327,000 - 0.0%
<br /> Construction Management Fee 711,072 59,366 - 8.3%
<br /> Soft Costs 3,512,697 1,614,050 1,011,048 74.7%
<br /> Total Public Improvements $ 22,386,420 $ 9,151,269 $ 4,186,405 59.6%
<br /> Footnotes:
<br /> [a]Per 2019 Annual Service Plan Update approved on January 29,2019.
<br /> [b]Per the Approved Certification for Payment dated February 22,2021.
<br /> [c]Per total 2A costs provided by the Developer on August 3,2020.
<br /> OUT--STANDING ASSESSMENT
<br /> The District has an outstanding Assessment of $18,313,176.051, of which $11,273,176.052 is
<br /> attributable to outstanding Initial PID Bonds, and $7,040,000.00 is attributable to the
<br /> Reimbursement Obligation. The outstanding initial PID Bonds are greater than the amount of
<br /> Assessments attributable to the Initial PID Bonds due to Prepayments for which Initial PID Bonds
<br /> have not yet been redeemed.
<br /> ANNUAL INSTALLMENT DUE 1/31/2023
<br /> ■Initial PID Bonds Principal and Interest—The total principal and interest on the PID Bonds
<br /> required for this year's Annual Installment is$845,425.00.
<br /> 1 Section 2.06 of the Amended and Restated Trace Public Improvement District Financing Agreement dated
<br /> September 18,2018 requires the City to reduce the outstanding Special Assessments by$2,600,000.00 for all
<br /> properties within the District on a pro rata basis based on the amount of Outstanding Special Assessment if the
<br /> Owner does not prepay$2,600,000.00 prior to August 31,2022. The Owner did not prepay$2,600,000.00,
<br /> therefore all Assessed Property have been credited their pro rata share of the$2,600,000.00 decrease in Special
<br /> Assessments.
<br /> 2 Net of$200,000.00 Initial PID Bonds principal payment due September 1,2022 which will be paid using the
<br /> Annual Installment collected on January 31,2022.The amount shown is also net of prepayments received to date.
<br /> TRACE PID 2022 ANNUAL SERVICE PLAN UPDATE 5
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