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Benefit District Financing Markley Holmes Vicinity Project Study Session PresentationΑ g n i c s s n tt e c Session a Discussion m e n l jj i Up Work o F o r H t PP / c i y ΑCƚƌƌƚǞ y r e tt t l ii Commission s 2019 i k n ii r City D 19, c a ii t i VV M f Salina August e n e B 2 taketake not toto pass Road is of that availableavailable Markley amount adjoiningadjoining Markley the toto optionsoptions on alternate account traffic there to Are assessmentassessmentin thru attributableattributabledevelopment? ) y pp n s t ( i o u ii n C s o s w i ii o t l s l m e o m u F o Q CC 3 toto that totaltotal thethe benefitbenefit Commission ofof any the determines widewide ƭŷğƩĻ͵ͼ 95%95% toto citycity allocate ͻĭźƷǤ upup a to Markley, be somesome isis Commission to decide the If therethere improvingcan percentagepercentagecosts l e dd e s nn s n oo n o BB u p o s C e RR ƷƷ an ĬǒƷ for ĭƚƭĭƚƭ ƒğǤ of and streets ƷŷĻ ƷŷĻ access ğƭƭǒƩźƓŭ plat ƷŷĻ 4 źƓźƓ in thethe standard, streetsstreets ĭƚƓƓĻĭƷźƓŭ ƚŅ into ƭƷƩĻĻƷ toto źƓĭƌǒķźƓŭͲ direct suitability responsible ğƓķ ĻǣĭĻĻķ standard; street ğŭƩĻĻƒĻƓƷͲ the connecting be ƚƩ źƓƷĻƩĻƭƷ entered standard, subdivision ğƌƷĻƩƓğƷĻ ƒğƷƷĻƩƭ a connectingconnecting and that ƭƷƩĻĻƷƭ street improvedimproved ƦğƩƷźĭźƦğƷźƚƓƦğƩƷźĭźƦğƷźƚƓ shall public potential ğƓ ƒĻĻƷ ƦǒĬƌźĭ street bebe ƭǒĭŷ that andand Ʒƚ the basis public streets ƷŷĻ willwill ƚǞƓĻƩƚǞƓĻƩ ķĻǝĻƌƚƦƒĻƓƷ a ğŭƩĻĻƒĻƓƷ ƭƷƩĻĻƷƭ the Ʒƚ ğ oror ƦĻƩźƒĻƷĻƩ to interim developer streetsstreets applicable on however, an źƒƦƩƚǝĻķ the the ğķķƩĻƭƭźƓŭ to ƦƩƚƦĻƩƷǤ ƦƩƚƦĻƩƷǤ ğĭĭĻƭƭ perimeter ĬĻ : ƩĻƌĻǝğƓƷ ĭƚƓƭźķĻƩ consideration ƷƚƷƚ Ʒƚ ĭƚƓƓĻĭƷźƓŭ meet improvements. approval Ǟźƌƌ perimeterperimeter Ʒƚ subdivisionsubdivision ķĻǝĻƌƚƦƒĻƓƷ provided, ķźƩĻĭƷ into subdivision; ğ access or ; standard,not enhancement ğƓķ thethe ķĻǝĻƌƚƦĻƩ plat ŅğĭƷƚƩƭ ƚŅ ĬƚķǤ street ƷŷĻ are ƌźƒźƷĻķ ofof accessaccess subdivision; ĭƚƓƭĻƓƷƭĭƚƓƭĻƓƷƭ ƷŷĻ does taking direct street the improvements future seeks ƓƚƷ ƭƷƩĻĻƷƭ ƷĻƩƒƭ all proposed ğƓķǞŷźĭŷ by of directdirect If streets subdivision ĬǒƷ street Ʒƚ ƷŷĻ approvalapproval the street ŭƚǝĻƩƓźƓŭ ĭźƷǤ ƩĻĭƚƩķĻķƩĻĭƚƩķĻķ proposed thethe interim cost ğƭͲ Ʒƚ the of ĭƚƓƭźķĻƩğƷźƚƓ ifif forfor ƚŅƚŅ served ƷŷĻ ƷŷĻ the below.developer of the the ƦĻƩźƒĻƷĻƩ Ʒƚ ƭǒĭŷ of źƓƷƚ are in to current (b) improvements, the ƭƷğƓķğƩķ connecting vicinity connecting standard; ƦǒƩƭǒğƓƷ area ğĭĭĻƭƭ ƷŷĻ and or and Standards determinedetermine ĬĻƷǞĻĻƓ ǒƷźƌźǩğƷźƚƓ the ǒƷźƌźǩğƷźƚƓ ƷğƉźƓŭ street applicationapplication owners ƩĻŅĻƩƩĻķ section the in toto interests allowing ğƓķ street ofof improved in ĬĻ ķźƩĻĭƷ development street by ĬƚķǤͲ sub streets. streets ƭƷğƓķğƩķ of are ğƌƌ źƒƦƩƚǝĻƒĻƓƷƭ standard timetime public public ƦƚƷĻƓƷźğƌƦƚƷĻƓƷźğƌ ƷĻƩƒƭͲ property volumes result ƒğƷƷĻƩ part thethe under appropriate necessarynecessary ƭƷƩĻĻƷ by ƷŷĻƷŷĻ ƭƷƩĻĻƷ street ǒƓƌĻƭƭ large atat as streets other perimeter ƷŷĻ źƒƦƩƚǝĻƒĻƓƷƭͳ the ŭƚǝĻƩƓźƓŭ may ΛźźΜΛźźΜ perimeter at traffic connecting development or of ŅźƓğƓĭźğƌ ƷŷĻ of ƷŷğƷ analysisanalysis public ğƓķ ğƓķ that Street źƓƷĻƩźƒ any and ƭƷƩĻĻƷ access developer ƚŅ access standard ƭƷğƓķğƩķƭƷğƓķğƩķ standard. ğƦƦƩƚǝĻķ ƷŷĻ pace nature connecting ƷŷĻ participation the ƷźƒźƓŭͲğƦƦƩƚƦƩźğƷĻ standard ĬĻ which requirements. direct ƩĻƨǒĻƭƷƚŅ savings streets anticipated of ƚŅ and direct and to ƷŷğƓ and a street ƭƷƩĻĻƷƭƷƩĻĻƷ ƷŷĻ street and źƒƦƩƚǝĻķ źƒƦƩƚǝĻķ applicable ƭŷğƌƌ all of engineeringengineering ΛźΜ ķźƭĭƩĻƷźƚƓ andcost ƒğǤ street ĬĻĬĻ street ƌĻƭƭ źŅ city the ƷƚͲ Ʒƚ Ʒƚ thethe ƦǒĬƌźĭ ƦǒĬƌźĭ ƷŷĻ extentnature extent public streets interim ƓƚƷ ǒƦŭƩğķĻƭ the perimeter ğƷ ğƩĻ ğƩĻ meet ĭƚƒƦƌĻƷźƚƓ interimanticipation segment the General ƌźƒźƷĻķ ķĻǝĻƌƚƦĻƩ ƭǒĬķźǝźƭźƚƓ not ğƦƦƩƚǝĻķ ŅǒƷǒƩĻ access any 74. ğƦƦƌźĭğĬƌĻğƦƦƌźĭğĬƌĻ applicable ĬĻƭƷğƓķğƩķ betweendoperimetersubmittingsubmittingmeet ƷŷĻĻƓƷźƩĻƌǤƓƚƷƭƷƩĻĻƷƭƭƷƩĻĻƷƭƚŅ ƷźƒĻƌǤ 1.The2.The3.Current4.Current 5.The 36 Direct Perimeter Sec.(3)ğ͵bƚ b.If 5 y tt proper more r public i e Streets) assessments of thith with fit subdivisionsubdivision cost special ene the bfitb Collector t projects paya internalinternal thtth or (e.g., offset s forfor t to owners usedused City impact bebe the mprovemen Propertyto iti CanCanimprovementsbroad tt s y ii ll t ff ll c ee a i r r nn t e ee s i n BB e D GG finishfinish Initiated andand toto and City Period startstart noticenotice or ifif Costs fromfrom Protest contract (only(only Final Hearing, day of monthsmonths 30 2424 and PeriodPeriod 1212 and Roll t Hearing c construction Improvements i takestakes Notice r Statement Improvements t ProtestProtest and s into nance DititDi dayday didi processprocess e AssessmentsAssessments t Petition,Resolution2020 hearing)EnterConstruct PrepareAssessmentNotice OrPrepayment ••••••••• rea TypicalTypical CtC ConstructLevy Levy* t t s i w c s f ii e e r e i t c n v s r o ii e r e DD B P v O 100%100% does ifif district district that district proposed property,property, originaloriginal district 6a196a19 payment a inin in 1212 within original payment in in create Petitions benefittedbenefitted KSAKSA delay includedincludednot to Α owners allall delay year agree 15 FeesFees 6a04(c) includeinclude property property property to property 12 ForForUp ForIndefiniteOpportunitynot not ofdistrict Deferrals ••••• Ag BenefitBenefitKSA tt s ss d ii t cc ff e ii c ee i c pp r nn n t oo ee s a TT i v BB D d A 8 Total Lots 368 Development 35 lots lots 6060 lots Development 150 Estates s t o 4545 ltl Valley lots Hills 7878 Wheatland Magnolia s tt e nn i ee t i n mm Orientation:LotsLots u pp Orientation: t oo r ll osed Road o Road ee pp vv p ProProposed ee p DD O Markley123Holmes245 9 ss ee ii tt ii nn uu tt rr oo pp pp OO tt nn ee mm pp oo ll ee vv ee DD s t o Properties LtL l ona Lots DevelopedAdditilAdditi Total 129 355355 484 60 35 150 217229229 355 750 10 , 1,045 Lots $28750$28 of * Development Lots Lot$816 from Per (North)(South) at Available Holmes of to HolmesHolmes Revenue RevenuesRevenue to to TaxTax Tax 378 property232 5%) adjacent . 2, Homes$250,000 Number Lots adjacentadjacent(115%)(11 1, of 245 lots/acre. side; PropertyProperty Property PropertyProperty 1, 2.3 side;side; Property Lots$853,320 PhaseEast Value CityCity HomesHomes undeveloped All PhaseEast East CountyCounty County ofof Residential City Projected Only)28.394 of ValleyValley AnnualAnnual Other HillsHills Hills ValueValue (City Appraised approximately SouthNorthNorth Potential Levy Buildout Projected Assumes Subdivision#WheatlandWheatlandMagnolia MagnoliaMagnoliaMarkley HolmesHolmesHolmes Total*AverageAssessedAssessed Mill EstimatedEstimatedFull s tt e nn i ee t i n mm u pp t oo r ll o ee vv p ee p DD O 11 Trips/Day Edition)Edition) th 1,290 7 7 = Property Trips Day Large Large Per At EngineersEngineers Residential At Day Residential Trips City Trips City / ay TrafficTraffic Per 10/ Per DD Properties x of of er Thru Day PP Thru Trips ps i Per NeighborhoodPass r Residential TiT Pass Total (Institute(Institute DevelopedProperties Trips 620 , 1,290 46204 3,330 4,620129 10 129 27.92%72.08% d a n o tt o R i nn t ee i y ss d e l ee n rr k o r PP a C M 12 Trips 4,840 = Day Per Large large At At ResidentialResidential Residential Day Trips City City 10 / Per / x Lots Lots Thru Trips Thru Lots NeighborhoodNeighborhoodPass Pass NeighborhoodTotal Additional ExistingTotal Residences 24% . 129484 484 4,8408,170 +3,3305924%5940.76% +355 d a n o o ee R i rr t i y uu tt d e l uu n k FF o r a C M 13 Prior Sewer InvestmentInvestment InterceptorInterceptor 14 Hills #2#2 es t a t s WheatlandWheatland MagnoliaEtt E Valley s l t a n n e n r o o t m e i t s s e i t n v I v c i i o r r d d t p n b s i u u m D F S II 15 yy dd e n l l a ll a t V a e hh WW 16 Markley internal s 100% Sewer l on$1,172,873.00 drainage = erra f Pays e Cost dfld rovements: o pp improvementsΘ{ƷƩĻĻƷƭΘ{ƷƚƩƒΘğƷĻƩ Θ{ğƓźƷğƩǤ NN Im Total District Θ{ǒĬķźǝźƭźƚƓ Θ{źķĻǞğƌƉƭ Θ dd nn lots) aa ll tt (24 aa y 1 e ee l l hh a WWV InternalImprovementsPhase 17 Valley Valley WheatlandWheatland 18 s t n e m e 125.09 v interest $ 4,163.18 Payment $ o and r costs pp Annual improvements. 13 o . tt m t project I Only 546 , Owners 1,377.01 sidewalk l 45,828.81 $ actual 106,546.13 10654613106 $ Special a and $$ 1,172,873.00 n 1,598,191.88 ssessmen final Bonds) Principal n AtA o Property on i r GO t detention e (2) on a t Lot Bonds Bonds c Lots depending improvements. n (1) 3 I Per of project. o GOGO Service vary l stormwater Lotsand the l on on yy will 1 2 for (Debt e A @4.25%)425,318.88 l categories only costs finance l ServiceService t Lots PhasePhase all Cost to Assessment pay years a s Owners$ for annual DebtDebt Lots V o(15 Cost$ issued ValleyValley pay 3 and Annual Special Buildable C Lotsand d Cost 1 2 bonds Property total AnnualAnnual Cost$ Project n on Α Total AllCity PhasePhase a ToTo TotalTotal WheatlandWheatland 78 Actual l TotalInterest TotalEstimated Estimated(1)(2)*rates 1 t a e s e a h h WP 19 Area Request s aa 22 l ii l ll ## i oo s H nn e gg tt aa a tt s MM EE 20 16) . 345 , for ($24234516)($242 11 l arce 1,552,610.47 requested 100% Sewer PlP $$ d drainage = Subdivision e Pays tt a l Cost deferral ll rovements: WaterWater np pp ImprovementsOnly:Θ{ƷƩĻĻƷƭΘ{ƷƚƩƒ Θ UlttdU Θ{ğƓźƷğƩǤ Im Tota District ΘLƓƷĻƩƓğƌ Θ!ŭ s e t Lots) a a i l t s o (29 E n 1 g s l a l i 22 M H##InternalInternalImprovements Phase 21 #2#2 EstatesEstates HillsHills MagnoliaMagnolia 22 City family 10 density acre one the deferred per of than be Population less deferral; developed may the for of discretion of: used the otherwise purposes at theserequirements: length payments agricultural earlier is or Primarily all at the ends meets platted Commission Assessment maximum) platted (including Not Deferral property property Special as or deferral 2 a of long Years 6,113: recommended so is 15 excess acresacres 12 ½½ in Granting KSA years Tract s l a r r e f e gg AA D ) City Flow 12 . to 015.12015 ,, Cash 22 220151222 ((,) $(22,015.12) Impact Net Α Property 12 . 015 , Assessment from Revenue Deferred 22,015.1222,015.1222,015.1222,015.1222,015.1222,015.1222,015.1222,015.1222,015.1222,015.1222,015.1222,015.1222,015.1222,015.1222,015.1222,015.12220151222 22,015.1222,015.12 Owners City Special Payment GO ) on 015.12 , Expense Bonds 22 ((,) Service City Debt 1$(22,015.12)Deferred2(22,015.12)Deferred(22,015.12)34(22,015.12)Deferred(22,015.12)5(22,015.12)Deferred(22,015.12)6(22,015.12)Deferred(22,015.12)7(22,015.12)Deferred(22,015.12)8(22,015.12)Deferred(2 2,015.12)9(22,015.12)Deferred(22,015.12) 10(22,015.12)Deferred(22,015.12)11(22,015.12)22,015.1212(22,015.12)22,015.1213(22,015.12)22,015.1214(22,015.12)22,015.1215(22,015.12)22,015.1216171819 20212223242425 Total$(330,226.80)$330,226.80$0 Year s l ff a r oo w r e o ss ll e l tt f p F cc e aa h m n D pp s a A g a x mm CIIAΑEE 24 n pay o i to t project. 22,015.12 used 563,023.06119,027.12 141,042.24 Deferral Total a 1,552,610.47 2,115,633.53 $$ $ $Ag c funds on financethe o to 23 l . l interest 265.17214 , issued $ 3,925.361214231 A Payment 87,881.6122,015.12 22,015.12 22,015.12 $$(i.e., 242,345.16 220,151.18 330,226.77 Property $ Deferral bonds t to cost $ $$ $ $ Ag on s Annual o rates 44 carrying . Owners improvements. 2 C 336 Only , City's Assessment 2,919.04 interest 43,210.80$133364413 # $ the s 119,027.12 242,345.16 119,027.12 Deferral $$$ improvements. and $ 1,310,265.31 1,785,406.76 for detention t s No Special Principal costs n e account detention t e project stormwater not a (1) and t m Does actual s stormwater lines e Period final Bonds) years. E and v on (4)(4) improvements. (2)(3) GO 22 10 sewer . lines s o ot for on LotsLots Deferral LL l 1 2 r 66 Lot l Ag Bonds$ sanitary k owner)owner)sewer detention i depending improvements. p oc Per extends of GO Service PhasePhaseBlkBl vary H 2 2 22 certain on During sanitary propertyproperty will o. Period) m for all deferral (Debt No.No.NN byby I stormwater @4.25%)475,141.45 City a categories for costs i only for Lots to l Service l all Cost Assessment (5) repaidrepaid only years states Owners$Deferral assumes pays foronly EstatesEstatesE E a Cost annual o s Debt (15 until until Cost$ pays Citypay pay Parcel n 2 and HillsHillsHillHill Special Annual Parcel n to Buildable a r LotsLots (During Cost Lot li 1 2 Property total 6 gg Annual cost deferraldeferral Cost$ Project Potential Total e AllCity ofof agno a t TotalPhasePhase BlockUnplatted 45 ToTo Total MagnoliaMagnoliaMliM Unplatted Actual Estimated TotalInterest TotalEstimated Total(1)costcost(2)(3)(4)(5)* n MI 25 Holmes Road MarkleyRoad treet to SS l a i rter DistrictsFund PerimeterCollector/AilA Improvements 26 on d width side; r t of asphalt l a gutter, e path l side lanes) sewer one d e of u r n paving F and use t ЊЋ͸ inches a S of other t 6 concreteor (3 storm underground S ft.inches Multi sideSidewalk width36 d r of gutterCurb t m asphalt8one a i e r d e of and on e r paving n t t inches a of S n 6 t I concreteor curb S ft. inches No 8 24 Sidewalk // rr l oo s tt a t i cc r e ee ll e e ll t r r oo t CCA SS 27 c ffi of fair ra tffit d obligationits Street source pay improvements to ncrease idi viable Collector ure enforceable Street t u for ftf property y bb pay legally d financially e to a t Collector a ittdit of developing Implementsharenecessflow Establishrevenues for Improvements s l a o G 28 Road HolmesHolmes 29 exceeds exceeds sewer feet (2018) 36 == count count to storm foot feet trips/day traffic trafficpath StandardStandard 24 foot ~225 asphalt use daily daily from inch $758/lineal InterimInterim multi count 8 side width or road average average fromfrom width and gutter/underground $715/lineal one traffic Standard foot and on when when gravel paving Standard improvements:improvements:improvements: a daily 24 concrete upgradeupgrade Street Approximately trips/day curbsidewalks =ofof trips/day inch Street 250ΘtğǝźƓŭΘЏ Θ{źķĻǞğƌƉ6,500 RequiredRequiredΘLƓĭƩĻğƭĻΘ!ķķΘ!ķķCost CostApproximately CurrentlyInterim Full Θ!ǝĻƩğŭĻΘbĻĭĻƭƭğƩǤΘ/ƚƭƷ ΘbĻĭĻƭƭğƩǤΘ Θ ΘΘ ΘwĻƨǒźƩĻķ HolmesHolmesRoad of 30 Benefit Benefit BenefitBenefit to of (100% 6a19 6a19 6a196a19 property (100% 12 12 1212 of Interim KSA KSA KSAKSA developer to to toto (100% StandardStandard developer ect from jj Valley Hills assessments)assessments) subject sub subjectsubject yy to to rade developers \]\] InterimInterim pgpg County Count CountyCounty assessments) to to U Magnolia Wheatland both annexation annexation annexation subject subject in in inin Half Half\] to y by by by ert Standard upon upon upon ppy propertyFee propertyFee subjectPropertyPropertyFee South Holmes\[\[Θ{źŭƓĻķΘtƩƚƦĻƩƷǤ Holmes\[North Θ{źŭƓĻķΘtƩƚ HolmesFull Θ{źŭƓĻķΘ #1#2#3 PetitionPetition Petition mes l o HlHRoad 31 to the a to is StreetStreet outside Connects through petition requests dd for land an dd district paid improved and Street Fees be City, to annexe benefit is Arterial the a Benefit District road in improvement the when 6a19: property Benefit owners District 12 en Street abuts hh PetitionPetition w projects KSA Benefit ue limits dd property Arterial street in City to by Fees for not it ff DistrictDistrict Used connect Bene submitted Property OriginalOriginal tt ii ff ee s nn e ee e BB F City Flow to ???? Cash Impact Net Α Owners Payment ???????????????????? Fee Revenue Property City Benefit from GO on Expense Bonds Service City Debt 1$(117,204.34)??2(117,204.34)??3(117,204.34)??4(117,204.34)??5(117,204.34)??6(117,204.34)??7(117,204.34)??8(117,204.34)??9(117,204.34)?? 10(117,204.34)??11(117,204.34)??12(117,204.34)??13(117,204.34)??14(117,204.34)??15(117,204.34)??16 17 18 19 2020 21 22 23 24 2525 Total$(1,758,065.11)?? Year ff o w o s l t tt i F f c a e ss h p n s ee a e ee m C II B FF 33 #1 RoadRoad Street InterimInterim Holmes Petition 34 71 . for on * 561 , rates 725,587.48$6456171$64117,204.34 Total $181,766.05 account increased $2,000,903.32 $2,726,490.80 to be interest may and \]\] Area complete, costs Fee Payment 117,204.34 467,865.15 Mile are $117,204.34 assessed $1,290,199.96 $1,758,065.11 $427.54 be project Half Annual 1 to # 71 . actual costs South improvements 561 \[\[ , n Only final OwnersBenefit the $6456171$64 project on o $710,703.37 Assessment i until t Principal Property i Special to t Standard maximum depending created, e Bonds) is that vary P n GO will feet)$4,706.40 on Interim o Limits) District d i provide Bonds$64,561.71 to costs t the a square will GO Service a project. o on after annual c 15,000 (WithinCity the (Debt R @4.25%)257,722.33 and Holmes and of petitions o Service Lots l Cost Assessment s l * size years from total that OwnersOwners finance e Debt (15 to Cost A Special Annual Actual Buildable month t Cost (assume m PropertyProperty proposes Annual issued l Cost$968,425.69 per Project s lot Total AllAllCity o Staff ToToTo Total Per 95 o Estimated TotalInterest TotalEstimated*0.5%inflation.bonds HC 35 #2 RoadRoad Street InterimInterim Holmes Petition 36 72 . for on * 258 , rates 725,587.48$7625872$76105,507.33 Total $181,766.05 account increased $2,000,903.32 $2,726,490.80 to be interest may and \]\] Area complete, costs Fee Payment 105,507.33 421,172.15 Mile are $105,507.33 assessed $1,161,437.84 $1,582,609.99 $365.58 be project Half Annual 2 to # 72 . actual costs North improvements 258 \[\[ , n Only final OwnersBenefit the $7625872$76 project on o $839,465.49 Assessment i until t Principal Property i Special to t Standard maximum depending created, e Bonds) is that vary P n GO will feet)$4,024.39 on Limits) Interim o District d i provide Bonds$76,258.72 to costs City t the a square will GO Service a project. o on after annual c (Within 15,000 the (Debt R @4.25%)304,415.33 and Holmes and of petitions o Lots Service l Cost Assessment s l * size years from total that OwnersOwners finance e Debt (15 to Cost A Buildable Special Annual Actual month t Cost (assume m PropertyProperty proposes Annual issued l Cost$1,143,880.82 per Total Project s lot AllAllCity o Staff ToToTo Total Per 150 o Estimated TotalInterest TotalEstimated*0.5%inflation.bonds HC 37 65 . for on * 806 , rates 001 222,711.67 Total , $140,820.43 $363,532.11 account 1,451,174.96 increased $400180665$4 $5,452,981.60 to be interest 80 . may and 637 Area , COMBINED\]COMBINED\] complete, s lf costs Fee t 222,711.67 451889,037.30 , a are $222,711.67 t assessed HlfH $245163780$2 $3,340,675.10 e c be th project e to a ou r SthS 85 . p t actual costs ++ improvements 168 S lf , final OwnersBenefit a m the HlfH 550 project I on , $140,820.43 Assessment $155016885$1 th m until t i or Property s r Special to \[Nth\[N maximum depending o e created, d Bonds) t is that vary C ar d GO n will t I on an District provide StddSt n f Bonds costs the m will i e GO Service o project. er on after annual t n yy m the I Iti(Debt @4.25%)562,137.66 and and r petitions o t t e Service Cost a * years from total t that Owners$140,820.43 v finance os Debt mes(15 to CtC l o t m Annual o Actual month r ec j HlH Cost Property proposes ro Annual issued Cost$2,112,306.51per PjtP p m l AllCity a t Staff ToTo Total o u TtlT Interest TotalEstimated*0.5%inflation.bonds m SI 38 #3 FullFull RoadRoad Street Holmes Petition 39 13 . for on * 786 , rates Total $13378613$133$209,360.23$343,146.36 account 1,369,797.61 increased $3,777,397.85 $5,147,195.45 to be interest may and Area complete, Standard costs Fee Payment 835,740.00 are $209,360.23$209,360.23 assessed $2,304,663.44 $3,140,403.44 $372.04 be project Annual 3 to Interim # 13 . actual costs improvements 786 , from n Only final OwnersBenefit ,, the project on o $13378613$133 Assessment i $1,472,734.41 until t Principal Property i Special to t Standard maximum depending created, e Bonds) is that vary Full P n GO to will feet)$4,095.45 on o Limits) District d i provide Bonds$133,786.13 costs City t the rade a square will GO Service a pgpg project. o on after U annual c (Within 15,000 the (Debt R @4.25%)534,057.61 and and of petitions o Lots Service l Cost Assessment s l * size years from total that OwnersOwners finance Holmes e Debt (15 to Cost A Special Annual Buildable Actual month t Cost (assume m PropertyProperty proposes Annual issued l Cost$2,006,792.02 per Project s lot Total AllAllCity o Staff ToToTo Total Per o 245 Estimated TotalInterest TotalEstimated*0.5%inflation.bonds HC 40 for on * rates {ƷğƓķğƩķ͵ 274,606.57432,071.90 Total $$$706,678.47 account 2,820,972.56 3 increased $7,779,204.50$7,779,204.50 to {ƷğƓķğƩķ l be {ƷƩĻĻƷ interest l may and {ƷƩĻĻƷ A Area LƓƷĻƩźƒ complete, Cǒƌƌ costs Fee ŅƚƩ źŅ are $432,071.90$432,071.90 1,724,777.30 assessed $4,756,301.23$4,756,301.23 $6,481,078.53$10,660,177.06 s be t DistrictsDistricts project ƦĻƩźƚķ to ķźƭƷƩźĭƷƭ 33 c s AllAll a actual costs ƷŷƩĻĻ t Α improvements pp ğƌƌ final c OwnersBenefit ğƭƭĻƭƭƒĻƓƷ the i 274,606.57 ŅƚƩ project on $$ Assessment r $3,022,903.26$3,022,903.26 m ǤĻğƩ until t I ƷźƒĻ ЊЎ Property s Special to i t ƷŷĻ maximum depending ƭğƒĻ s ƚŅ created, D Bonds) is ƷŷĻ that ImprovementsImprovements vary o ĻƓķ ğƷ GO t will C ƷŷĻ on e District RoadRoad provide f Bonds$274,606.57 costs e the will ĬĻŅƚƩĻ GO Service r o ƚǒƷƭƷğƓķźƓŭ project. t on after annual ĬĻ yy HolmesHolmes the (Debt S @4.25%)1,096,195.27 and and r petitions ĭƚƒƦƌĻƷĻ ƚƓƌǤ Service Cost s a * years from total that Owners finance ǞĻƩĻ e Debt Ǟƚǒƌķ (15 to CostCost m Annual Actual month Cost m Property .ƚƓķƭ proposes Annual issued l Cost$4,119,098.53per ProjectProject m AllCity o Staff ToTo Total u TotalTotalInterest TotalEstimated*0.5%inflation.bonds bƚƷĻʹźƒƦƩƚǝĻƒĻƓƷƭ S H 41 FullFull Road Street MarkleyMarkley 42 Area Developed Area Developed UndevelopedArea County FullFull Road Street MarkleyMarkley 43 FullFull Road Street MarkleyMarkley 44 feet 36 = to count storm trips/day feet pathpath traffic 24 Standard foot useuse ~4,500 Standard daily from Interim multimulti count Street width d average andand from gutter/underground $1,400/lineal ar trips/day traffic d and an paving Interim when improvements:improvements: StddSt daily 6,500 at t upgrade curbsidewalkssidewalks of ree SttSt sewerAddAdd ll (2018)exceedsRequiredRequiredΘLƓĭƩĻğƭĻΘ!ķķ ΘΘ Approximately u Currently FllF Θ!ǝĻƩğŭĻ ΘbĻĭĻƭƭğƩǤΘ Θ Θ/ƚƭƷ MarkleyMarkleyRoad 45 **** 86 . 340 * , per toto requests Total $49734086$497 121,662.61 1,985,322.84 0.5% $375,678.24 $5,474,790.00 $7,460,112.84 issuedissued inflation. petitions, bondsbonds 61 nn . for increased onon area d be oo 662 , ii ratesrates ope ldl may 485,662.03121,662.61 tt account benefit $12166261$121 to $1,339,277.19 $1,824,939.22 in Property aa Deve Allocation interestinterest cc assessed andand be oo **** property 24 complete, . ll to costscosts 0.68 ll d are 678 , costs ope AA l Estimated projectproject $37567824$375 eve tt $4,135,512.81 dldd undeveloped Property project ss Un actualactual improvements oo finalfinal whether the onon CC Bonds) maximum on Preliminary until !ƩĻğͼυ GO that dd on depends dependingdepending aa created, Bonds Road Bonds ͻ.ĻƓĻŅźƷ provide is City oo varyvary GOGO to Service fee. will the willwill on on RR by Foot District (Debt @4.25%)1,499,660.82 benefit costscosts Markley yy the to petitions ServiceService Cost carried Property$375,678.24 * ee Square years after ll that be annualannual DebtDebt Per (15 Cost to subject and kk andand Annual project. is rr Cost cost Cost or the from AnnualAnnual totaltotal proposes Cost$5,635,173.63 Project aa UndevelopedCity Actual Staff ToTo TotalTotal inance Project TotalInterest TotalEstimated*month**deferral ActualActualf MM o tt to to 100% not d e of in t benefit costs, are agreeagree oca governing lltdll that a formed if they e owners bb be ownersowners signatures ones to large, may approvesapproves though at s improvement only t property os PropertyPropertypay eventhe CtC Citybodybody Requiresof District s ) n c 22 o ( ii 11 t 4 ii 0 t AA a SS e KK 6 P 07 42 to .. 47 276 973 actual ,, the $6997342$69 final Special Owners Bonds) $77027607$770 Property Α on Lots) finance Assessment GO to (78 d on r Lot issued Bonds$69,973.42 depending a Per GO Service vary bonds d on on will n (Debt @4.25%)279,325.18 rates costs a Service t Cost Assessment wners years OO S annual interest Debt (15 CostCost and t and Annual Special Only$9,875.33 Payment$897.10 roperty Cost e e PP total Annual costs Cost$1,049,601.25 ProjectProject r e AllAllCity o a r TT To Total PrincipalAnnual Actual TotalTotalInterest TotalEstimated Estimated*projectproject. t h S S l l y u e l F l a d V a o d R n a yy l t e l a k e r h a MW 29 to . 48 l a 940 i actual , the $894029$8 pec final SilS Owners Bonds) Property Lots) Α on finance Assessment GO to (~45 d e on r r Lot issued Bonds$36,546.90 depending a a Per GO Service vary bonds d h on on will S n (Debt @4.25%)145,890.68 rates costs a Service 2 t Cost Assessment years Owners$36,546.90 . S annual interest Debt (15 Cost$402,312.83 o and t and Annual Special OnlyOnly Payment$812.15 Cost e N Property total Annual costs Cost$548,203.51 Project e AllCity s r ToTo Total PrincipalPrincipalAnnual Actual TotalInterest TotalEstimated Estimated*projectproject. t e t S a l t l s u E F s l d l i a o H R a i l yy e o l n k r g a a MM 49 ************** fee. is * for ΑCǒƌƌ years slides wƚğķ benefit Street District Markley $497,340.86 ЌАЎͲЏАБ͵ЋЍ ağƩƉƌĻǤ 1,985,322.84 Road to $121,662.61 $375,678.24 υυ υЊЋЊͲЏЏЋ͵ЏЊ $5,474,790.00 $7,460,112.84 the prior ss See * nn andafter Road orissubject years20+ oo Street project. ii ЊЌЌͲАБЏ͵ЊЌ from $133,786.13$209,360.23 υυ υЋЉВͲЌЏЉ͵ЋЌ$343,146.36 1,369,797.61 Full ss $3,777,397.85 $5,147,195.45 Holmes deferral ss month * financethe uu per to wƚğķ Road Half requests years20+ cc АЏͲЋЎБ͵АЋ 0.5% 725,587.48 $76,258.72 υυ Interim issued $105,507.33 υЊЉЎͲЎЉА͵ЌЌ$181,766.05 ss North $2,000,903.32 $2,726,490.80 ii Holmes IƚƌƒĻƭ petitions, bonds D D * increased on area be Road Half years10+ ss rates ͸ ЏЍͲЎЏЊ͵АЊ may 725,587.48 $64,561.71 υυ 10 Interim benefit $117,204.34 υЊЊАͲЋЉЍ͵ЌЍ$181,766.05 South yy in $2,000,903.32 $2,726,490.80 Holmes interest aa assessed and be dd property Α Hills to costs oo 563,023.06 $22,015.12 ЊЊВͲЉЋА͵ЊЋυЋЋͲЉЊЎ͵ЊЋ costs Internal $119,027.12 υυ$141,042.24 T T Estates $1,552,610.47 project $2,115,633.53 inflation. Magnolia Improvements ff undeveloped for project actual LƒƦƩƚǝĻƒĻƓƷƭ oo Α final whether account yy on Bonds) ЊЉЏͲЎЍЏ͵ЊЌ 202120218 maximum to on υυ ValleyInternal rr Wheatland GO LƓƷĻƩƓğƌ that Improvements on aa information. depends depending complete, provide City mm are vary Service hǞƓĻƩƭ summary for will the will by this mm (Debt Year @4.25%)425,318.88 costs tƩƚƦĻƩƷǤ/źƷǤυ petitions uu Service Cost Ǥ First carried ĬĬ ĬǤ years Fee) Owners$106,546.13 improvements SS be annual that źķźķ underlying Debt (15 Cost$1,172,873.00 the Reimbursement) to Deferral) tğ tğźķ and Annual Earliest ƌ Bonds$106,546.13 (Ag(Benefit(No Cost cost until Assessments Property total proposes Annual Cost$1,598,191.88 Project ƷƚƷğ GO All CityCity City ĬƌĬ assumptions ǒ Actual on To{ToTo To{ǒĬƷƚƷğƌ Staff Total*created,**all TotalInterest Estimated EstimatedSpecial Actual Total ProjectsProjects 3333 $10,435,885 AssessmentAssessment SpecialSpecial d collection$10,405,686 bonds nance fidfi for on y tltl Financed Financed due curren scheduled s t balance ec jtj pro CurrentlyCurrently amount ff payoff2033 o o. NN RemainingTotal Final total) of change (13% not does limit the if DebtDebt 1% ͸ up go specials47.31% would % without our limit$79,671,952 SpecialsSpecials limit54.44%limit debt debt . of of in to %% vsvs as as Valuation debt$10,435,885 debt debt Limit*$146,336,377 applicable $1,463,364 totaltotal Assessed DebtDebt Debt debt{ƦĻĭźğƌƭ͸ every of 2018Total TotalCurrent For Current •••••*30% • TotalTotal 320 177 ,, 563 003 842,634 ,, $3563320$3$6003177$6 SpecialsSpecials DeferredDeferred Recovery$1,597,223 deferred$ 6a196a19 AG1212 Cost TotalTotalTotalTotal OutstandingOutstanding CollectionsCollections vsvs ServiceService DebtDebt DeferralsDeferrals withwith CollectionCollection 55 Lot 897.10812.15 427.54365.58 372.04 / 4,163.183,925.36 Assessment ss $$$$$$$$ nn LotAnnual Portion / oo 9,875.338,940.29 4,706.404,024.394,095.45 45,828.8143,210.80 ii tt aa Assessment cc $$$$$$$$ Total oo yr /yr/yr///yr/yr/yr/yr ll ll Service A A Debt 69,973.4236,546.90 64,561.7176,258.72 106,546.13119,027.12 133,786.13 tt $$$$$$$$ ss Fee Fee Fee oo Reimb? Expense Deferral CC Ag City BenefitBenefit Benefit ff mill mill millmill mill oo .60millFuture 0.05 0.27 0.260.24 0.47 PortionDevelopment yy City rr aa /yr=/yr=/yr=/yr=/yr= mm 22,015.12 269,159.24 121,662.61 117,204.34105,507.33209,360.23 $ mm $$$$$$$ I #2#2 uu Large Phase SS at Street Holmes Holmes Estates Estates Full City Valley Road Holmes Hills Hills Undeveloped North South Improvements Road Αbε{ Holmes WheatlandValleyPhaseIMagnolia WheatlandMagnoliaDevelopedCurrently InterimInterimFull Internal Markley 56 897.10 62 . 4,163.18 5,060.28 $$$ 365.58 372.04 73762737 $ $$$ 84 . 54 . 119 , 42754427 372.04799.58 4,024.394,095.45 8119848 TotalAnnual 9,875.33 TotalAnnual 45,828.81 55,704.14 ss $$$$ $$$$ nn $$$$ oo ii 40 . Specials tt Holmes #1 706 , 4706404 4,095.458,801.85 aa TotalAnnual Standard cc Valley $$$$ Valley Full oo ll ll Wheatland WheatlandInterim Full Holmes A A InternalMarkley tt Hills ss oo Magnolia CC InterimInterimFull ff illill illill m mill mill mill mill m oo 89 . 27 . 1891 0270 1.29 0.60 0.05 0.96 812.15 yy 3,925.36 3,925.36 rr ===== aa $ $$ yr yr ///yr/yr/yr/yr=// mm 61 87 .. Totals 662 908 8,940.29 ,, TotalAnnual City 43,210.80 43,210.80 mm 22,015.12 121 84490887844 12166261 432,071.90575,749.63 269,159.24 $$ $ uu $$$$$$$$ ll ğ Ʒ SS ƚ ƚƷğƌƷ #2 {ǒĬ Hills Standard Undeveloped Fee Full d e Magnolia d Deferral Markley un FddF Ag Benefit ty InternalMarkley CiCi City City City 57 cts i str DiiDi Perimeter ng i ng Roads di PlanPlan Developer w/o nanc iii un StandardsStandards of F F Fdi // Nothing ng Role Proposed Perimeter Funding Funding didi StreetStreet as Do Fun Fund ssessment RoadRoad AA re: l LessenLessen Development(s) a City i Heightened pec SilS Permit ons ti p OtiO