Ord 2025-027 approval of Ordinance 2025-27, on the first of two readings, approving the 2025 Annual Service Plan Update for the Whisper Public Improvement District (2)

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INTRODUCTION Capitalized terms used in this 2025 Annual Service Plan Update shall have the meanings set forth in the 2020 Service and Assessment Plan (the "2020 SAP"), used for levying the Assessments. On October 6, 2014, the City Council approved Resolution No. 2014-143R, creating the District in accordance with the PID Act to finance certain Authorized Improvements for the benefit of certain property within the District. On May 19, 2020, the City Council approved the original Service and Assessment Plan and levied $14,300,000 in Assessments to finance the Authorized Improvements to be constructed for the benefit of the Assessed Property within the District by approving Ordinance No. 2020-37. The original Service and Assessment Plan identified the Authorized Improvements to be provided by the District, the costs of the Authorized Improvements, the indebtedness to be incurred for the Authorized Improvements, and the manner of assessing the property in the District for the costs of the Authorized Improvements. The City also adopted an Assessment Roll identifying the Assessment on each parcel within the District, based on the method of assessment identified in the original Service and Assessment Plan. On January 19, 2021, the City Council approved the 2021 Annual Service Plan Update for the District by Resolution No. 2021-22R, which reallocated Assessments from Parcels shown in the original Service and Assessment Plan to newly created Parcels resulting from the sale of three Parcels to third parties within the District. On August 17, 2021, the City Council approved the 2021 Annual Service Plan Update for the District by Resolution No. 2021-151R, which updated the Assessment Roll for 2021. On September 20, 2022, the City Council approved the 2022 Annual Service Plan Update for the District by Ordinance No. 2022-80, which updated the Assessment Roll for 2022. On October 17, 2023, the City Council approved the 2023 Annual Service Plan Update for the District by Ordinance No. 2023-74, which updated the Assessment Roll for 2023. On August 20, 2024, the City Council approved the 2024 Annual Service Plan Update for the District by Ordinance No. 2024-36, which updated the Assessment Roll for 2024. The 2020 SAP identified the Authorized Improvements to be constructed for the benefit of the Assessed Parcels within the District,the costs of the Authorized Improvements,the indebtedness to be incurred for the Authorized Improvements, and the manner of assessing the property in the District for the costs of the Authorized Improvements. Pursuant to the PID Act, the 2020 SAP must be reviewed and updated annually. This document is the Annual Service Plan Update for 2025. WHISPER PUBLIC IMPROVEMENT DISTRICT 2 2025 ANNUAL SERVICE PLAN UPDATE