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LOT AND HOME SALES
<br /> Per the Quarterly Report dated June 30, 2023,there are 1,024 expected Lots at buildout with 810
<br /> Lots closed to homebuilders and 214 Lots owned by the Developer. Of those completed Lots,437
<br /> Lots are closed to end-users and 192 Lots are currently under construction.
<br /> See Exhibit D for Homebuyer Disclosures.
<br /> AUTHORIZED IMPROVEMENTS
<br /> The budget for the Authorized Improvements remains at $22,386,420.00 as shown on the table
<br /> below.
<br /> Spent to Date Spent to Date Not
<br /> Financed with Financed with
<br /> Total[a] Bonds[b] Bonds[b] %Complete
<br /> Public Improvements
<br /> Street Improvements $ 5,788,090.00 $ 2,218,561.91 $ 2,136,388.92 75.24%
<br /> Drainage Improvements $ 1,272,692.00 $ 326,347.01 $ 1,167,115.00 117.35%
<br /> Erosion Control/Mobilization&General Conditions $ 563,672.00 $ 704,105.01 $ 578,118.76 227.48%
<br /> Water Line Distribution $ 728,070.00 $ 623,573.90 $ 447,355.25 147.09%
<br /> Wastewater $ 1,026,228.00 $ 878,431.28 $ 767,950.49 160.43%
<br /> Sewer Lift Station $ 3,967,557.00 $ 1,713,273.43 $ - 43.18%
<br /> Landscaping $ 2,989,342.00 $ 1,013,560.47 $ 317,330.36 44.52%
<br /> Public Safety Facilities $ 500,000.00 $ $ - 0.00%
<br /> Contingency $ 1,327,000.00 $ $ 0.00%
<br /> Construction Management Fee $ 711,072.00 $ 59,365.65 $ 8.35%
<br /> Soft Costs $ 3,512,697.00 $ 1,614,050.26 $ 1,417,915.68 86.31%
<br /> Total Public Improvements $ 22,386,420.00 $ 9,151,268.92 $ 6,832,174.46 71.40%
<br /> Footnotes:
<br /> [a]Per 2019 Annual Service Plan Update approved on January 29,2019.
<br /> [b]Per Series B Reimbursement Obligation Draw#3 dated September 12,2022.
<br /> OUTSTANDING ASSESSMENT
<br /> The District has an outstanding Assessment of $17,952,610.091, of which $11,040,410.922 is
<br /> attributable to outstanding Initial PID Bonds, and $6,912,199.17 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 /> 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,therefore
<br /> all Assessed Property have been credited their pro rata share of the$2,600,000.00 decrease in Special Assessments.
<br /> 2 Net of$210,000.00 Initial PID Bonds principal payment due September 1,2023 which will be paid using the Annual
<br /> Installment collected on January 31,2023.The amount shown is also net of prepayments received to date.
<br /> TRACE PUBLIC IMPROVEMENT DISTRICT
<br /> 6
<br /> 2023 ANNUAL SERVICE PLAN UPDATE
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