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Ordinance 2004-60 20 1400033709 Filed for Record in CERTIFICATE OF RECORDING OF KENDALL COUNTY? ILLINOIS PAUL ANDERSON ESTABLISHING ORDINANCE AND AMENDING ORDINVWU At +12s1+6 Pm. UKOINANCE 78.00 I, Paul Anderson, certify that I am the duly elected, qualified and acting Recorder of Deeds of Kendall County, Illinois, and as such official I further certify that the original ordinance attested by the City Clerk of the United City of Yorkville of Ordinance No. 2004-49 entitled, "An Ordinance Establishing United City of Yorkville Special Service Area Number 2004-104 Central Grande Reserve," adopted on September 14, 2004 was filed for record in my office on September 21, 2004 and that a copy attested by the City Clerk of the United City of Yorkville of Ordinance No. 2004-60 entitled, "An Ordinance Amending Ordinance No. 2004- 49" adopted on October 26, 2004 was filed for record in my office on December _, 2004. A copy of each such Ordinance as so filed in my office is attached to this Certificate. IN WITNESS WHEREOF, I have signed this certificate and affixed my seal of office hereto this day of December, 2004. Paul Anderson Recorder of Deeds Kendall County, Illinois (SEAL) 200400033709 Filed for Record in KENDALL COMM ILLINOIS PAUL ANDERSON 12-02-2004 At 02=06 pn. ORDINANCE 78.00 011.572340.2 ORDINANCE NO. 2004-60 AN ORDINANCE AMENDING ORDINANCE NO. 2004-49 (AN ORDINANCE ESTABLISHING UNITED CITY OF YORKVILLE SPECIAL SERVICE AREA NUMBER 2004-104 CENTRAL GRANDE RESERVE) BE IT ORDAINED BY THE CITY COUNCIL OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, AS FOLLOWS: Section 1. Authority. The United City of Yorkville (the "City") is authorized, pursuant to Article VII, Section 7(6) of the Constitution of the State of Illinois, and pursuant to the provisions of the Illinois Special Service Area Tax Law, 35 ILCS 200/27-5 et seq. (the "Act"), to establish special service areas for the provision of special governmental services in portions of the City and to levy or impose a special tax and to issue bonds for the provision of such special services; and pursuant to Section 27-75 of the Act, the special tax roll setting forth the manner in which the special tax will be levied and extended may be set forth in an amendment to the ordinance establishing a special service area. Section 2. Findings. (a) The question of establishment of the area hereinafter described as a special service area (the "Area") was considered by the President and Board of Trustees of the City pursuant to "An Ordinance Proposing the Establishment of Special Service Area Number 2004- 104 Central Grande Reserve in the United City of Yorkville and providing for other Procedures in connection therewith," being Ordinance No. 2004-13, adopted February 24, 2004. The establishment of the Area was considered at a public hearing commenced on March 23, 2004. Said hearing was held pursuant to notice duly published and mailed in accordance with the requirements of the Act. 011.1196684.3 (b) The City Council of the City adopted Ordinance No. 2004-49, An Ordinance Establishing United City of Yorkville Special Service Area Number 2004-104 Central Grande Reserve (the "Establishing Ordinance") on September 14, 2004 pursuant to which the "United City of Yorkville Special Service Area Number 2004-104 Central Grande Reserve" was established consisting of the contiguous territory legally described in Exhibit A hereto with the PIN numbers set forth therein, and outlined on the map of a portion of the City attached as Exhibit B hereto for the purpose of providing special services to the Area in addition to services provided in the City generally and so that bonds may be issued for the purposes aforesaid, payable from taxes levied on real property in the Area in accordance with a special tax roll. (c) The Establishing Ordinance provided that in lieu of an ad valorem tax to be levied and extended for the payment of principal of and interest on any bonds issued on behalf of the Area, a special tax roll shall be established for levying and extending taxes for the payment of principal of and interest on any bonds issued for the purposes of paying for special services benefitting the Area and the administration and maintenance of the Area and that the description of the special tax roll would be as set forth in and approved by an amendment to the Establishing Ordinance. Section 3. Approval of Special Tag Roll. The Special Tax Roll providing for the levying and extending of taxes for the payment of principal of and interest on bonds issued for the purposes of paying for special services benefitting the Area and the administration and maintenance of the Area as described and set forth in the United City of Yorkville Special Service Area Number 2004-104 Central Grande Reserve Special Tax Roll and Report prepared by David Taussig and Associates, Inc. on behalf of the City (the "Report") attached hereto as Exhibit C, incorporated herein and made a part of this Ordinance, is hereby approved. The 2 011.1196684.2 manner of imposition of the special tax shall be as set forth in the Report. The Report may be amended by Ordinance of the City and, to the extent permitted by the Act and subject to the limitations of the Act, may be amended without further notice to owners of property within the Area. Section 4. Supersede Conflicting Ordinance. All ordinances or parts of ordinances in conflict with the provisions of this ordinance are repealed to the extent of each conflict. Section 5. Effective Date. This Ordinance shall be in full force and effect from and after its passage and approval in the manner provided by law. PAUL JAMES MARTY MUNNS RICHARD STICKA WANDA OHARE VALERIE BURD ROSE SPEARS LARRY KOT JOSEPH BESCO PASSED AND APPROVED this, day , 2004 ayor ATTEST: [SEAL] (, City Clerk Published in pamphlet form , 2004. 3 011.1196684.2 EXHIBIT A GRANDE RESERVE CENTRAL REGION THAT PART OF THE SOUTHEAST QUARTER OF SECTION 11, THAT PART OF SECTION 14, AND THAT PART OF THE NORTH HALF OF SECTION 23, TOWNSHIP 37 NORTH, RANGE 7 EAST OF THE THIRD PRINCIPAL MERIDIAN DESCRIBED AS FOLLOWS: BEGINNING AT THE INTERSECTION OF THE CENTERLINE OF KENNEDY ROAD WITH THE SOUTHERLY LINE OF THE BURLINGTON NORTHERN RAILROAD RIGHT-OF-WAY THROUGH SAID SECTION 14; THENCE NORTH 73 DEGREES 14 MINUTES 21 SECONDS EAST ALONG SAID SOUTHERLY LINE 1239.61 FEET TO THE NORTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 14; THENCE NORTH 88 DEGREES 04 MINUTES 00 SECONDS EAST, ALONG SAID NORTH LINE, 610.29 FEET TO THE NORTHEAST CORNER OF SAID NORTHWEST QUARTER; THENCE NORTH 87 DEGREES 54 MINUTES 03 SECONDS EAST ALONG THE SOUTH LINE OF SAID SOUTHEAST QUARTER OF SECTION 11, A DISTANCE OF 1329.33 FEET TO THE WEST LINE OF THE SOUTHEAST QUARTER OF SAID SOUTHEAST QUARTER; THENCE NORTH 01 DEGREES 21 MINUTES 20 SECONDS WEST ALONG SAID WEST LINE, 511.01 FEET TO SAID SOUTHERLY LINE OF THE BURLINGTON NORTHERN RAILROAD; THENCE NORTH 73 DEGREES 14 MINUTES 21 SECONDS EAST, ALONG SAID SOUTHERLY LINE, 837.66 FEET TO THE CENTERLINE OF MILL ROAD; THENCE SOUTH 74 DEGREES 18 MINUTES 13 SECONDS EAST ALONG SAID CENTERLINE 546.02 FEET TO THE EAST LINE OF SAID SOUTHEAST QUARTER OF SECTION 11; THENCE SOUTH 01 DEGREE 19 MINUTES 08 SECONDS EAST ALONG SAID EAST LINE, 556.17 FEET TO THE SOUTHEAST CORNER OF SAID SOUTHEAST QUARTER; THENCE SOUTH 01 DEGREE 19 MINUTES 08 SECONDS EAST ALONG THE EAST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 14, A DISTANCE OF 1122.0 FEET; THENCE SOUTH 87 DEGREES 45 MINUTES 51 SECONDS WEST, 438.0 FEET TO THE NORTHEAST CORNER OF LYNWOOD SUBDIVISION, EXTENSION FOUR; THENCE SOUTH 87 DEGREES 45 MINUTES 51 SECONDS WEST, ALONG THE NORTHERLY LINE OF SAID LYNWOOD SUBDIVISION, EXTENSION FOUR, 1168.80 FEET TO THE NORTHWEST CORNER THEREOF; THENCE SOUTH 01 DEGREE 46 MINUTES 18 SECONDS EAST, ALONG THE WESTERLY LINE OF LYNWOOD SUBDIVISION, EXTENSIONS FOUR AND FIVE, 1173.80 FEET TO AN IRON STAKE; THENCE SOUTH 01 DEGREE 47 MINUTES 49 SECONDS EAST, ALONG THE WESTERLY LINE OF LYNWOOD SUBDIVISION, EXTENSION FIVE, 376.25 FEET TO AN IRON STAKE; THENCE SOUTH 02 DEGREES 01 MINUTES 46 SECONDS EAST ALONG THE WESTERLY LINES OF LYNWOOD SUBDIVISION, EXTENSIONS FIVE AND SIX, 1950.62 FEET TO AN IRON STAKE; THENCE SOUTH 01 DEGREE 51 MINUTES 08 SECONDS EAST, ALONG THE WESTERLY LINE OF LYNWOOD SUBDIVISION, EXTENSION SIX, 879.29 FEET TO THE CENTERLINE OF U. S. ROUTE NO. 34; THENCE SOUTH 45 DEGREES 14 MINUTES 47 SECONDS WEST ALONG SAID CENTERLINE 878.60 FEET; THENCE NORTH 37 DEGREES 07 MINUTES 26 SECONDS WEST, 2106.30 FEET; THENCE NORTH 47 DEGREES 17 MINUTES 26 SECONDS WEST, 1500.85 FEET TO THE CENTERLINE OF KENNEDY ROAD AND THE EASTERNMOST CORNER OF A TRACT DESCRIBED IN A QUIT CLAIM DEED TO GEORGE AND GLENNA PATTERSON, HUSBAND AND WIFE, RECORDED AS DOCUMENT NO. 72- 375 ON JANUARY 25, 1972; THENCE NORTH 25 DEGREES 56 MINUTES 49 SECONDS EAST ALONG SAID CENTERLINE 236.34 FEET; THENCE NORTHEASTERLY AND NORTHERLY, A RADIUS OF 800.0 FEET; AN ARC DISTANCE OF 419.10 FEET; THENCE NORTH 04 DEGREES 04 MINUTES 07 SECONDS WEST ALONG SAID CENTERLINE 531.06 FEET; THENCE NORTH 05 DEGREES 06 MINUTES 07 SECONDS WEST ALONG SAID CENTERLINE 1866.0 FEET TO THE POINT OF BEGINNING IN BRISTOL TOWNSHIP, KENDALL COUNTY, ILLINOIS AND CONTAINING 372.223 ACRES. ALSO: THAT PART OF SECTIONS FOURTEEN (14), FIFTEEN (15) AND TWENTY- THREE (23), ALL IN TOWNSHIP THIRTY-SEVEN (37) NORTH, RANGE SEVEN (7) EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHERLY CORNER OF STRUKEL'S PARADISE LAKE UNIT NO. 1, (SAID POINT ALSO BEING THE INTERSECTION OF THE CENTERLINE OF BRISTOL ROAD AND THE CENTERLINE OF KENNEDY ROAD), AS SHOWN ON THE SUBDIVISION PLAT OF STRUKEL'S PARADISE LAKE UNIT NO. 1 RECORDED AS DOCUMENT#71-215; THENCE NORTH 60 DEGREES 17 MINUTES 26 SECONDS EAST, 724.86 FEET ALONG THE CENTERLINE OF KENNEDY ROAD TO THE POINT OF CURVATURE OF A 1094.72 FOOT RADIUS CURVE TO THE LEFT; THENCE NORTHEASTERLY 631.18 FEET ALONG SAID CURVE WHOSE CHORD BEARS NORTH 43 DEGREES 46 MINUTES 24 SECONDS EAST 622.47 FEET TO THE POINT OF TANGENCY OF SAID CURVE; THENCE NORTH 27 DEGREES 15 MINUTES 21 SECONDS EAST 11.57 FEET ALONG SAID CENTERLINE TO A POINT; THENCE SOUTH 37 DEGREES 39 MINUTES 00 SECONDS EAST 1776.45 FEET TO A POINT; THENCE SOUTH 52 DEGREES 21 MINUTES 00 SECONDS WEST 1343.89 FEET TO A POINT IN THE CENTERLINE OF BRISTOL ROAD; THENCE NORTH 37 DEGREES 39 MINUTES 00 SECONDS WEST 1778.85 FEET ALONG SAID CENTERLINE TO THE POINT OF BEGINNING. ALSO: THAT PART OF SECTIONS FOURTEEN (14) AND TWENTY-THREE (23), ALL IN TOWNSHIP THIRTY-SEVEN (37) NORTH, RANGE SEVEN (7) EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS; COMMENCING AT THE SOUTHERLY CORNER OF STRUKEL'S PARADISE LAKE UNIT NO. 1, (SAID POINT ALSO BEING THE INTERSECTION OF THE CENTERLINE OF BRISTOL ROAD AND THE CENTERLINE OF KENNEDY ROAD), AS SHOWN ON THE SUBDIVISION PLAT OF STRUKEL`S PARADISE LAKE UNIT NO, 1, RECORDED AS DOCUMENT#71-215; THENCE SOUTH 37 DEGREES 39 MINUTES 00 SECONDS EAST 1778.85 FEET ALONG THE CENTERLINE OF BRISTOL ROAD FOR THE POINT OF BEGINNING; THENCE NORTH 52 DEGREES 21 MINUTES 00 SECONDS EAST 1343.89 FEET TO A POINT; THENCE SOUTH 37 DEGREES 39 MINUTES 00 SECONDS EAST 1645.23 FEET TO A POINT IN THE CENTERLINE OF ILLINOIS ROUTE 34; THENCE SOUTH 46 DEGREES 33 MINUTES 17 SECONDS WEST 1350.80 FEET ALONG SAID CENTERLINE OF ILLINOIS ROUTE 34 TO THE INTERSECTION OF THE CENTERLINE OF BRISTOL ROAD; THENCE NORTH 37 DEGREES 39 MINUTES 00 SECONDS WEST 1781.63 FEETALONG SAID CENTERLINE OF BRISTOL ROAD TO THE POINT OF BEGINNING. ALSO; THAT PART OF SECTIONS FOURTEEN (14) AND TWENTY-THREE (23), ALL IN TOWNSHIP THIRTY-SEVEN (37) NORTH, RANGE SEVEN (7) EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHERLY CORNER OF STRUKEL'S PARADISE LAKE UNIT NO. 1, (SAID POINT ALSO BEING THE INTERSECTION OF THE CENTERLINE OF BRISTOL ROAD AND THE CENTERLINE OF KENNEDY ROAD), AS SHOWN ON THE SUBDIVISION PLAT OF STRUKEL'S PARADISE LAKE UNIT NO. 1, RECORDED AS DOCUMENT#71-215; THENCE NORTH 60 DEGREES 17 MINUTES 26 SECONDS EAST 724.86 FEET ALONG THE CENTERLINE OF KENNEDY ROAD TO THE POINT OF CURVATURE OF A 1094.72 FOOT RADIUS CURVE TO THE LEFT; THENCE NORTHEASTERLY 631.18 FEET ALONG SAID CURVE WHOSE CHORD BEARS NORTH 43 DEGREES 46 MINUTES 24 SECONDS EAST 622.47 FEET TO THE POINT OF TANGENCY OF SAID CURVE; THENCE NORTH 27 DEGREES 15 MINUTES 21 SECONDS EAST 11.57 FEET ALONG SAID CENTERLINE FOR THE POINT OF BEGINNING; THENCE CONTINUE NORTH 27 DEGREES 15 MINUTES 21 SECONDS EAST 551.92 FEET ALONG SAID CENTERLINE TO A POINT; THENCE SOUTH 45 DEGREES 56 MINUTES 15 SECONDS EAST 1501.96 FEET ALONG AN EXISTING FENCE LINE TO A POINT; THENCE SOUTH 35 DEGREES 48 MINUTES 56 SECONDS EAST 2104.69 FEET ALONG SAID FENCE LINE TO A POINT IN THE CENTERLINE OF ILLINOIS ROUTE 34; THENCE SOUTH 46 DEGREES 33 MINUTES 17 SECONDS WEST 652.28 FEET ALONG SAID CENTERLINE TO A POINT; THENCE NORTH 37 DEGREES 39 MINUTES 00 SECONDS WEST 3421.68 FEET TO THE POINT OF BEGINNING. ALSO: THAT PART OF THE SOUTH HALF OF SECTION 11 AND PART OF THE NORTHWEST QUARTER OF SECTION 14, TOWNSHIP 37 NORTH, RANGE 7 EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF SECTION 11; THENCE SOUTH 0 DEGREES 57 MINUTES 0 SECONDS WEST 442 FEET TO THE NORTH LINE OF THE RIGHT OF WAY OF THE CHICAGO, BURLINGTON AND QUINCY RAILROAD; THENCE NORTH 75 DEGREES 17 MINUTES 0 SECONDS EAST 1728 FEET ALONG SAID RIGHT OF WAY LINE TO THE SOUTH LINE OF SECTION 11; THENCE SOUTH 89 DEGREES 53 MINUTES 0 SECONDS EAST 1001.25 FEET ALONG THE SOUTH LINE OF SAID SECTION 11 TO THE SOUTHEAST CORNER OF THE WEST HALF OF SAID SECTION 11; THENCE NORTH 89 DEGREES 54 MINUTES 0 SECONDS EAST 1339.5 FEET ALONG THE SOUTH LINE OF SAID SECTION 11 TO THE SOUTHEAST CORNER OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SAID SECTION 11; THENCE NORTH 0 DEGREES 40 MINUTES 0 SECONDS EAST 977.5 FEET TO THE CENTERLINE OF THE HIGHWAY; THENCE NORTH 74 DEGREES 15 MINUTES 0 SECONDS WEST 727.2 FEET ALONG SAID CENTERLINE; THENCE NORTH 79 DEGREES 10 MINUTES 0 SECONDS WEST 2877.4 FEET ALONG SAID CENTERLINE TO THE CENTERLINE OF A NORTH AND SOUTH HIGHWAY; THENCE SOUTH 7 DEGREES 7 MINUTES 0 SECONDS EAST 364.8 FEET ALONG THE CENTER OF SAID NORTH AND SOUTH HIGHWAY; THENCE NORTH 89 DEGREES 47 MINUTES 0 SECONDS WEST 503.33 FEET TO THE WEST LINE OF SAID SECTION 11; THENCE SOUTH 0 DEGREES 52 MINUTES 0 SECONDS WEST ALONG SAID WEST LINE 1327.6 FEET TO THE POINT OF BEGINNING; EXCEPT THAT PART LYING NORTHERLY OF THE SOUTHERLY RIGHT OF WAY LINE OF THE CHICAGO, BURLINGTON AND QUINCY RAILROAD AFORESAID IN THE TOWNSHIP OF BRISTOL, KENDALL COUNTY, ILLINOIS, PIN: 02-11-300-005 02-14-352-001 02-11-400-005 02-15-477-001 02-14-100-007 02-23-126-001 02-14-100-009 02-23-201-001 02-14-201-001 EXHIBIT B 9l�c PARCErKK E 'f PARCEL TNO 1n.0 s PARCELTNro ] �1 s■r7r4 m 'NORTH REGION' P.LN.az.,a.romie76'1�1 P.LN.mntaooms I L 7 h L CREEK ncrow E EO\SON °� 1;►'0■'1 N 77]1'10'[ M,ONWE�T AK 07.11.]00 0.5 P.LN.02-11dWOp5 7 y NM.■Y GOM P w CFm l ARCE1lW 'dJ11Al ° w t �ti ti 5 0030'37 E M■7Sf07[ ; ' it 17 S dmv' L W ■� N■!.W I REGION MAP �i Ptk�,.1 ) I "",� s PA.N.R-14ataol R) S tT1■71'• OR GRANDE RESERVE, YORKVILLE, ILLINOIS µx nE x n I "CENTRAL REGION" ,) n a s $ I Z I I u V n F s 01077'ma1 ■ 'NLANI s37921 37921�vr 3 n NuN)sauerow¢) Nao3s'7s' ■ - -_ ' N:iNCOHVOR t 2 I P.1N.02.1NOODbJ K 07 7 1 x7 1 1 I P -14100L0) x ma �� = 7 ■ Mr t n I 1 I 1 7E71■KL map ! � 7 I KL I '• 7 s■1!`77 q a s4ry` s �PRF a I tj m w m a � I I s \ P.L..oz.,sas,00 `° �■1a'm' 1'[ 1 •7a. 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I a I a a a* so SURVEYDRS � Nte°IifIL'8■1®sow a Nw 70-110 EXHIBIT C UNITED CITY OF YORKVILLE SPECIAL SERVICE AREA NUMBER 2004-104 CENTRAL GRANDE RESERVE SPECIAL TAX ROLL AND REPORT Prepared for Prepared by UNITED CITY OF YORKVILLE DAVID TAUSSIG& ASSOCIATES,INC. 800 Game Farm Road 1301 Dove Street, Suite 600 Yorkville, IL 60560 Newport Beach, CA 92660 (630) 553-7575 (949) 955-1500 UNITED CITY OF YORKVILLE SPECIAL SERVICE AREA NUMBER 2004-104 CENTRAL GRANDE RESERVE SPECIAL TAX ROLL AND REPORT TABLE OF CONTENTS Section page I. INTRODUCTION....................................................................................................................I II. DEFINITIONS........................................................................................................................1 III. SPECIAL SERVICE AREA DESCRIPTION..............................................................................5 A. BOUNDARIES of SSA No. 2004-104............................................................................5 B. ANTICIPATED LAND USES.............................................................................................5 IV. FINANCING PLAN.................................................................................................................5 V. SPECIAL SERVICES..............................................................................................................6 A. GENERAL DESCRIPTION................................................................................................6 B. ESTIMATED COSTS........................................................................................................7 C. ALLOCATION OF COSTS ................................................................................................9 D. ALTERNATIVES, MODIFICATIONS, AND/OR SUBSTITUTIONS .......................................28 VI. BOND ASSUMPTIONS..........................................................................................................28 VII. MAXIMUM PARCEL SPECIAL TAX....................................................................................28 A. EQUIVALENT UNITS....................................................................................................29 B. MAXIMUM PARCEL SPECIAL TAX CALCULATION.......................................................31 C. ESCALATION...............................................................................................................33 D. APPLICATION..............................................................................................................33 E. TERM..........................................................................................................................33 F. SPECIAL TAX ROLL AMENDMENT...............................................................................33 G. OPTIONAL PREPAYMENT.............................................................................................33 H. MANDATORY PREPAYMENT........................................................................................34 VIII. ABATEMENT METHODOLOGY AND COLLECTION.................. A. ABATEMENT METHODOLOGY.....................................................................................34 B. COLLECTION PROCESS................................................................................................35 C. ADMINISTRATIVE REVIEW..........................................................................................35 IX. AMENDMENTS....................................................................................................................36 List of Exhibits Exhibit A — Cost Estimate Summary for the Central Grande Reserve Project Exhibit B— Special Tax Roll Exhibit C — Prepayment of the Maximum Parcel Special Tax Exhibit D — Concept Plan I. INTRODUCTION Pursuant to the provisions of the Act and in accordance with the "Establishing Ordinance" being Ordinance No. passed by the City Council of the United City of Yorkville, County of Kendall, State of Illinois, on , 2004 in connection with the proceedings for Special Service Area Number 2004-104 Central Grande Reserve (hereinafter referred to as "SSA No. 2004-104"), this Special Tax Roll and Report of SSA No. 2004-104 (the "Report") is herewith submitted and made part of the Establishing Ordinance. II. DEFINITIONS The terms used herein shall have the following meanings: "Act" means the Special Service Area Tax Act, being 35 ILCS 200/27-5 et seq., as amended. "Administrative Expenses" means the following actual or reasonably estimated costs permitted in accordance with the Act and directly related to the administration of SSA No. 2004-104 and the Bonds as determined by the City or its designee: the costs of computing the Special Taxes and of preparing the amended Special Tax Roll (whether by the City or designee thereof or both); the costs of collecting the Special Taxes (whether by the City, the County, or otherwise); the costs of remitting the Special Taxes to the fiscal agent and/or trustee for any Bonds; the costs of the fiscal agent and/or trustee (including its legal counsel) in the discharge of the duties required of it under the Bond Indenture; periodic costs on the Bonds, including, but not limited to, the costs of remarketing and letter of credit draw fees; the costs of the City or designee in computing the amount of rebatable arbitrage, if any; the costs of the City or designee in obtaining or maintaining ratings of the Bonds; the costs of the City or designee in complying with the disclosure requirements of applicable federal and state securities laws and of the Act, including, but not limited to, public inquiries regarding the Special Taxes; the costs associated with the release of funds from any escrow account or funds held pursuant to the Bond Indenture; and any termination payments owed by the City in connection with any guaranteed investment contract, forward purchase agreement, or other investment of funds held under the Bond Indenture. Administrative Expenses shall also include amounts advanced by the City for any administrative purpose of SSA No. 2004-104 including the costs of computing Special Tax Bond Prepayment amounts, recording of lien satisfaction or other notices related to a Special Tax Bond Prepayment, Partial Special Tax Bond Prepayment, or Mandatory Special Tax Prepayment, discharge or satisfaction of Special Taxes; and the costs of commencing and pursuing to completion any foreclosure action arising from and pursuing the collection of delinquent Special Taxes and the reasonable fees of legal counsel to the City incurred in connection with all of the foregoing. "Administrator" means the designee of the City responsible for determining the Special Taxes and assisting the City and the County in providing for the collection of the Special Taxes, continuing disclosure, and any other administrative efforts related to SSA No. 2004-104. Special Tax Roll and Report Page I United City of Yorkville Special Service Area No. 2004-104 October 5,2004 "Annexation Agreement" means that Annexation Agreement and Planned Unit Development Agreement dated August 7, 2003 between the City and MPI-2 Yorkville North LLC, MPI-2 Yorkville Central LLC, MPI-2 Yorkville South I LLC, and MPI-2 Yorkville South I1 LLC. "Bond Indenture" means the trust indenture dated as of November 1, 2004 between the City and LaSalle Bank National Association and any supplemental indentures between the City and the trustee named therein authorizing the issuance of the Bonds. "Bonds" means any bonds or other debt, including refunding bonds, whether in one or more series, issued by the City and secured by the Maximum Parcel Special Tax for SSA No. 2004-104, the proceeds of which will be used to finance inter alia, all or a portion of the public improvements. "Calendar Year" means the twelve-month period starting January 1 and ending December 31. "Central Grande Reserve" means all property within the area defined as the Central Grande Reserve as shown in Exhibit D attached hereto (i.e., neighborhoods 6— 16 on the Concept Plan,the School Property, and the Clubhouse Property). "City" means the United City of Yorkville, County of Kendall, State of Illinois. "Clubhouse Property" means that property within the boundaries of SSA No. 2004-104 on which the clubhouse facility has been, may be, or is anticipated to be constructed as determined from the Concept Plan (i.e., designated as HOA Club), any Preliminary Plat, or any Final Plat, as applicable. "Concept Plan" means the concept plan for the Grande Reserve project attached as Exhibit D to the Annexation Agreement, as may be amended. "Council" means the Mayor and City Council, having jurisdiction over SSA No. 2004- 104. "County" means the County of Kendall, Illinois. "Duplex Property" means that property within the boundaries of SSA No. 2004-104 on which duplex Dwelling Units have been, may be, or are anticipated to be constructed as determined from the Concept Plan, any Preliminary Plat, or any Final Plat, as applicable. "Dwelling Unit" or "DU" means a residential dwelling unit. "Final Plat" means a final plat of subdivision approved by the City and recorded with the County. "First Series" means the first series of Bonds issued for SSA No. 2004-104. Special Tax Roll and Report Page 2 United City of Yorkville Special Service Area No.2004-104 October 5,2004 "First Series Property" means the lots in the following table: Lots Numbers/ Neighborhood Number of DUs Land Use Designation Recordation Data 10 Lots 344—427 Single-family Property Final Plat Recorded on August 17,2004 11 Lots 91 —177 Single-family Property Final Plat Recorded on July 7,2004 12 Lots 1 —90 Single-family Property Final Plat Recorded on July 7,2004 13 Lots 178—227 Single-family Property Final Plat Recorded on July 7,2004 14 Lots 228—343 1 Single-family Property Final Plat Recorded on July 7,2004 15 Lots 428—490 1 Single-family Pro e Final Plat Recorded on July 7,2004 "Grande Reserve Subdivision" means all the property located within North Grande Reserve, Central Grande Reserve, and South Grande Reserve. "Mandatory Special Tax Prepayment" means the Special Tax Bond Prepayment required upon a reduction in the anticipated number of Dwelling Units as described more fully in Section VII.H herein and calculated pursuant to Exhibit C attached hereto. "Maximum Parcel Special Tax" means the maximum special tax, determined in accordance with Section VII that can be collected by the City in any Calendar Year on any Parcel. Maximum Parcel Special Taxes means the amount determined by multiplying the actual or anticipated number, as applicable, of Single-family Property, Duplex Property, or Townhome Property Dwelling Units by the applicable Maximum Parcel Special Tax. "Maximum SSA Special Taxes" means the Maximum Parcel Special Taxes plus any additional special taxes levied, in accordance with any supplemental ordinances adopted by the City that can be collected by the City in any Calendar Year. "North Grande Reserve" means all property within the area defined as the North Grande Reserve as shown in Exhibit D attached hereto (i.e., neighborhoods 1 — 5 on the Concept Plan and the Commercial Property). "Parcel" means a lot or parcel within the boundaries of SSA No. 2004-104 shown on a Final Plat and/or PIN Map. "Partial Special Tax Bond Prepayment" means that amount required to partially prepay the Maximum Parcel Special Tax computed pursuant to Exhibit C attached hereto. "PIN Map" means an official map of the County Assessments Division or other authorized County official designating Parcels by permanent index number. "Preliminary Plat" means the preliminary subdivision plat(s) for SSA No. 2004-104 approved by the City, as may be amended. "Residential Property" means all property within the boundaries of SSA No. 2004-104 on which Dwelling Units have been, may be, or are anticipated to be constructed as determined from the Concept Plan, Preliminary Plat, or any Final Plat, as applicable. Special Tax Roll and Report Page 3 United City of Yorkville Special Service Area No.2004-104 October 5,2004 "School Property" means all property on which an elementary school in SSA No, 2004- 104 has been, may be, or is anticipated to be constructed as determined from the Concept Plan, Preliminary Plat, or any Final Plat, as applicable. "Second Series" means the second series of Bonds issued for SSA No, 2004-104 (exclusive of any refunding Bonds). "Second Series Property" means the lots in the following table: Lots Numbers/ Neighborhood Number of DUs Land Use Designation Recordation Data 6 156 DUs Townhome Property Final Plat Not Recorded,Number of DUs Based on Concept Plan 7 142 DUs Townhome Property Final Plat Not Recorded,Number of DUs Based on Concept Plan 8 224 DUs Duplex Property Final Plat Not Recorded,Lot Count Based on Concept Plan 9 Lots 589—723 Single-family Property Final Plat Recorded on July 7,2004 16 Lots 491—588 Single-family Property Final Plat Recorded on July 7,2004 "Single-family Property" means that property within the boundaries of SSA No. 2004- 104 on which single-family Dwelling Units have been, may be, or are anticipated to be constructed as determined from the Concept Plan, any Preliminary Plat, or any Final Plat, as applicable. "South Grande Reserve" means all property within the area defined as the South Grande Reserve as shown in Exhibit D attached hereto (i.e., neighborhoods 17 — 19 on the Concept Plan). "Special Tax" means the special tax to be extended in each Calendar Year on each Parcel. "Special Tax Bond Prepayment" means that amount required to prepay the Maximum Parcel Special Tax computed pursuant to Exhibit C attached hereto in order to fully release the lien of the Maximum Parcel Special Tax. "Special Tax Requirement" means that amount determined by the City or its designee as required in any Calendar Year to pay: (1) the Administrative Expenses, (2) debt service on any Bonds, (3) reasonably anticipated delinquent Special Taxes, (4) any amount required to replenish any reserve fund established in connection with such Bonds, (5) the costs of credit enhancement and fees for instruments that serve as the basis of a reserve fund in lieu of cash related to any such Bonds and less (6) available funds as directed under the Bond Indenture. "Special Tax Roll" means the Special Tax Roll included herein as Exhibit B, as may be amended pursuant to Section VII.F. "Townhome Property" means that property within the boundaries of SSA No. 2004- 104 on which townhome Dwelling Units have been, may be, or are anticipated to be Special Tax Roll and Report Page 4 United City of Yorkville Special Service Area No.2004-104 October 5,2004 constructed as determined from the Concept Plan, any Preliminary Plat or any Final Plat, as applicable. III. SPECIAL SERVICE AREA DESCRIPTION A. BOUNDARIES OF SSA NO.2004-104 SSA No. 2004-104 is a portion of the Grande Reserve Subdivision and includes the residential components, the School Property, and the Clubhouse Property of Central Grande Reserve, which total approximately five hundred thirty-four (534) acres. A legal description is attached as Exhibit C of the Establishing Ordinance. The Grande Reserve Subdivision is generally located north of State Route 34, northeast of Bristol Ridge Road, and east of Kennedy Road. B. ANTICIPATED LAND USES While SSA No. 2004-104 encompasses only the development within Central Grande Reserve, certain Eligible Improvements will benefit other development areas of the Grande Reserve Subdivision, namely North Grande Reserve and South Grande Reserve. Therefore, these development areas are included as part of the discussion, where applicable. 1. NORTH GRANDE RESERVE North Grande Reserve is anticipated to consist of 290 single-family Dwelling Units, 126 duplex Dwelling Units, and 409 townhome Dwelling Units, 300 apartment Dwelling Units, and the Commercial Property. It is anticipated that the 290 single-family Dwelling Units in the North Grande Reserve will be an age-targeted active adult community. 2. CENTRAL GRANDE RESERVE Central Grande Reserve is anticipated to consist of 723 single-family Dwelling Units, 224 duplex Dwelling Units, 298 townhome Dwelling Units, the Clubhouse Property, and the School Property. 3. SOUTH GRANDE RESERVE South Grande Reserve is anticipated to consist of 276 single-family Dwelling Units. IV. FINANCING PLAN Pursuant to the Annexation Agreement, the maximum special service area bonded indebtedness permitted for the Grande Reserve Subdivision is $60,000,000. The special service area financing plan contemplates the issuance of approximately $12,950,000 and $47,050,000 in variable and fixed rate bonds, respectively. All of the bonds to be issued in variable rate mode have been issued by the previously established SSA No. 2004-106 Special Tax Roll and Report Page S United City of Yorkville Special Service Area No.2004-104 October 5,2004 Total Grande Reserve. All of the fixed rate bonds will be issued by separate special service areas established for the North Grande Reserve, Central Grande Reserve, and South Grande Reserve (each a "Development Area"). The property included within North Grande Reserve, Central Grande Reserve, and South Grande Reserve overlaps SSA No. 2004-106 Total Grande Reserve. The Report focuses on the fixed rate bonds to be issued by SSA No. 2004-104 Central Grande Reserve. The public improvements to be funded by SSA No. 2004-104 include community and other neighborhood specific sewer, water, road, and storm water management facilities. These costs are described in greater detail in Section V below. V. SPECIAL SERVICES SSA No. 2004-104 has been established to finance certain City special services conferring special benefit thereto and which are in addition to the municipal services provided to the City as a whole. A general description, estimated cost, and allocation of these special services are set forth below. A. GENERAL DESCRIPTION As set forth in the Establishing Ordinance, the special services that are eligible to be financed by SSA No. 2004-104 (hereinafter referred to as the 'Eligible Improvements") include, but are not limited to, the following • City owned sanitary sewer facilities, water facilities, road facilities, storm water management facilities, public parks and park improvements, including, but not limited to, the cost of engineering, soil testing and appurtenant work, mass grading and demolition, storm water management facilities, storm drainage systems and storm sewers, site clearing and tree removal, public water facilities, sanitary sewer facilities, erosion control measures, roads, streets, curbs, gutters, street lighting, traffic controls, sidewalks, equestrian paths and related street improvements, and equipment and materials necessary for the maintenance thereof, public parks, park improvements, bicycle paths, landscaping, wetland mitigation and tree installation, costs for land and easement acquisitions relating to any of the foregoing improvements, required tap-on and related fees for water or sanitary sewer services and other eligible costs. Community improvements to be funded include a portion of the following improvements allocable to the Central Grande Reserve: • The Grande Reserve Subdivision adjacent portions of the Galena and State Route 34 water mains; • On-site lift station facilities; • Collector and entrance roads and associated sewer and water facilities and rights-of-way; • On-site storm sewers and associated earthwork. Special Tax Roll and Report Page 6 United City of Yorkville Special Service Area No.2004-104 October S,2004 Neighborhood improvements to be funded include neighborhood specific sewer, water, road, and storm water management facilities to be constructed within and serving SSA No. 2004-104. B. ESTIMATED COSTS The total estimated Eligible Improvement costs and the portion of the Eligible Improvement costs anticipated to be funded by SSA No. 2004-104 are shown in detail in Exhibit A attached hereto. A summary of these amounts and the allocation of the costs to be funded by SSA No. 2004-104 are shown in Table 1 on the following page. Special Tax Roll and Report Page 7 United City of Yorkville Special Service Area No.2004-104 October 5,2004 TABLE 1 SSA No. 2004-104 CENTRAL GRANDE RESERVE ESTIMATED PUBLIC IMPROVEMENT COSTS Anticipated To Be Funded Public Through SSA Public Improvement Description Improvement No. 2004-104 Community [1] Sewer $2,154,405 $2,005,824 Water $1,033,704 $660,460 Storm Sewer $7,294,460 $5,132,269 Roads $3,545,535 $1,446,112 Neighborhood Sewer $3,641,314 $3,623,776 Water $3,641,314 $3,623,776 Storm Sewer $3,246,114 $3,228,576 Roads $5,065,185 $1,010,684 -------------------------------------------- -------------------- -------------------- Grand Total [2] $29,622,033 $20,731,475 [1] Amounts shown represent the total cost for the Grande Reserve Subdivision. [2] Calculations may vary due to rounding. C. ALLOCATION OF COSTS Special taxes levied pursuant to the Act must bear a rational relationship between the amount of the special tax levied against each Parcel within SSA No. 2004-104 and the special service benefit rendered. Therefore, the public improvements anticipated to be financed by SSA No. 2004-104 as shown in Table 1 have been allocated in accordance with the benefit rendered to the property therein, with benefit estimated to be a function of (i) the service or benefit area for said improvements and (ii) the relative capacity for said improvements reserved for or used by properties within the benefit area. A discussion of the relevant benefit area(s) and measures of public facilities usage is detailed below. As mentioned previously, SSA No. 2004-104 is anticipated to fund only certain of the community and neighborhood improvements. However, this section addresses all the Eligible Improvements in an effort to provide a comprehensive discussion of benefit areas and the allocation of costs. 1. BENEFIT AREA a. COMMUNITY IMPROVEMENTS The community water and park improvements benefit all of the Grande Reserve Subdivision. The community water facilities are extensions of the master-planned water mains. The benefit area for the remaining community improvements is limited to the boundaries of SSA No. 2004-104. These improvements include community road improvements (i.e., the collector and entrance roads), the earthwork pertaining to the on-site storm water detention areas, and the on-site lift station and storm sewer facilities. b. NEIGHBORHOOD IMPROVEMENTS As mentioned previously, the neighborhood improvements will be constructed within the neighborhoods comprising the Central Grande Reserve, and therefore logically benefit those specific neighborhoods. 2. PUBLIC FACILITY USAGE Once the benefit area has been established, the special services may be allocated among the various properties within such area in accordance with use. As is discussed in the following sections, commonly accepted measures for public facility usage indicate that the benefit conferred by public improvements applies uniformly by land use type. Special Tax Roll and Report Page 9 United City of Yorkville Special Service Area No.2004-104 October 5,2004 a. SEWER AND WATER USAGE The primary determinant of sanitary sewer and water usage is the applicable population equivalent, or P.E. Household population is the criteria commonly used to project sewer and water service demand. Wastewater Engineering, Third Edition indicates that residential wastewater flow rates are typically determined on the basis of population density and the average per capita contribution of wastewater. The Illinois Environmental Protection Agency's ("IEPA")criteria for water storage and distribution systems assume an everyday use equal to 50 gallons per day per person. In addition, an emergency capacity is set at 50 gallons per day per person. This equates to 350 gallons per day for each single-family home given the IEPA P.E. factor of 3.5 for single-family homes. The factors published by the IEPA for apartments range from 1.0 to 3.0 depending upon bedroom count. For purposes of this analysis, a simple average of the three factors published, 1.0 for one bedroom units, 1.5 for two bedroom units, and 3.0 for three or more bedroom units is assumed, resulting in an average P.E. factor of 1.8 for apartment Dwelling Units. The IEPA does not publish P.E. factors for duplex or townhome Dwelling Units, but indicates that the published P.E. factors for apartments may be used to estimate their P.E. As the duplex and townhome Dwelling Units are anticipated to average three bedrooms, a P.E. factor of 3.0 is used. Sewer and water demand for commercial development is a function of the nature and intensity of use. The Commercial Property is a small development site approximately 4.5 acres in size. The developer indicates potential uses would include relatively low P.E. uses such as a service station and convenience market. Therefore, a P.E. factor of 10 per acre is employed in this analysis. Sewer and water demand for public schools is driven by two factors: type of school (i.e. elementary school, middle school, or high school) and the estimated number of students and employees. According to the school district, an elementary school, with an estimated capacity of 600 students and approximately fifty (50) employees, is anticipated to be built in SSA No. 2004-104. Applying the IEPA's standard of 25 gallons per student and employee per day yields a total of 162.50 P.E. for the site. Clubhouse sewer and water demand is a function of the nature and intensity of use. Information provided by the developer's engineer estimated the Clubhouse Property P.E. at 22.50. Tables 2 and 3 on the following pages show these P.E. factors and their equivalency (i.e., the P.E. factor for each land use type expressed in terms of the P.E. factor for a single-family home). Special Tax Roll and Report Page 10 United City of Yorkville Special Service Area No.2004-104 October S,2004 Table 2 represents the land uses in the North Grande Reserve, Central Grande Reserve, and South Grande Reserve. Table 3 represents the land uses of only SSA No. 2004-104. Special Tax Roll and Report Page 11 United City of Yorkville Special Service Area No. 2004-104 October S,2004 q \ CN q 2 k o ± / o a * � � f a q 2 � d _ \ n o ¥ w # q » Q \ i E ¢ 2 g G 7 'i OR w �. - d a a # o _ / S 7 G / 0 0 o R \ \ � / Q / N 04 V) W f & 04 V ' , ¥ _ N ® c . ) o 2 L� 7 8 7 7 \ \ 2 S « / §. Cl) Cl) n a o � a z 2 m a' / £ a b o k k k k z z z / $ G u ® a k LU § �' 4) ) k / w e � ) - Z �; o < < < < < o < < o g 2 � Lu q w: 2 2 2 2 z z 2 § \ o > E o \ q q z > � _ f % 2 § .} z \ J �. J a \ G « u a w §. « < < < o < < < o / ] £ $ / z z 7� 2 2 2 2 2 2 2 2 2 cnW / z � $ \ a \ q a ] { ) CD co LL e 0 co 'r- § 'E c o ¥ o < < < < -q _ § _ \ k q q � q 2 2 2 2 © £ 2 / \ O f \ \ » t (D:3 » 0) -0 k [ (D \ k 0 0 ° ± \ £ k § IEa / ` § § 6 C G ) _ E + / � \ kkCL k 222 ƒ 2 O = _ £ ± 7 3 § m C c c 7 8 DA?3 o e « > Q CL k \ k k kk \ [ E c / j § S/ e § & j r $ E 0 6 G k E 2 § 42 = $ \ CL 3: / _ E = E o a « E 2 ] \ R / < / \ 3 V k § \ § / j IL t1 k \ 3EE E q Go u �� \ \ N < & q < cl :/ \ a, w & LO / ¥ 2 N J- p -03 q # C" _ § 7 k' k k k k \ g - o o $ o § a w § k ~ S 7 < G / 2 < \ 2 N 7 L C:l ® © a. a c c ® � } . ) . o � o / � ¢ S $ Z \ \ r < « Uj n w n a o z z cn CN 6 7 3 e \. z z z z z z z z 2 / w # > - > LLI Cl) w \m W # 0 m . • / uj Z w: o < < < < < o < < o \ 2 n w a° - z z z z z z 2 w a Lu w S c < g 2 E 3 0 Z > 2 d _ 0 � k e 2 0 0 � § _ o § 3 \ 2 LU z: k k k k / ƒ k k G G B ) \ e < . %U) ® § w � { ] °s 0 I ` � © \ = 2 n c < < < < < g C 0 j \ . N g q 2 z z z z e ] 7 ) ) f o _ 2 » cu:3 \ 29 k \ $ \ k _ = a \ ° 0 0 0 _ � Glkk ) � \ § w \ g k a 7 o 2 kk (DCL c § 2 >1 ] 7 | u) (D ( 5 Z) � F $ m (n-a = 5 0 2 § e 2 ® m = a 2 f , • _ = E . f 2 7 / I 2 / E § » } @ $ 2 2 E 0 $ + k E % ) ) 7 $ \ $ E � 2 \ 0 0- IL = E o 2 ® ¥ E ¥ m $ R / < / / 3 V ] j / § J j Sl C � 9 SC \ SEE I2 b. ROAD IMPROVEMENTS Road usage is typically computed on the basis of anticipated trip generation. The Institute of Traffic Engineers publication, Trip Generation, Sixth Edition, indicates average weekday trips per single-family, townhome, and apartment Dwelling Unit of 9.57, 5.86, and 6.59, respectively. As mentioned previously, the single-family property in North Grande Reserve is anticipated to be age-targeted. Consequently, the Traffic Study employs a reduced trip generation assumption of 2.76 trips per Dwelling Unit. As with P.E. factors, trip factors for duplex Dwelling Units are not published in Trip Generation, Sixth Edition, However, Trip Generation, Sixth Edition states that the average weekday trips for residential land uses have a high correlation with the number of vehicles and residents. Therefore, household size is used to estimate the average weekday trips for duplex Dwelling Units. Multiplying the population ratio between a duplex Dwelling Unit and a single-family home (i.e., 3.0 divided by 3.5) by the average weekday trips for single-family homes yields an estimated average weekday trips of 8.20 for a duplex Dwelling Unit. The average weekday trips associated with an elementary school are typically expressed per student and are estimated by Trip Generation Sixth Edition at 1.02 per elementary school student. The developer's engineer estimates average weekday trips for the Clubhouse Property at 90. Table 4 on the following page shows these trip factors and their equivalency (i.e., the average weekday trip factor for each land use type expressed in terms of the average weekday trip factor for the typical single-family home) for SSA No. 2004-104. Special Tax Roll and Report Page 14 United City of Yorkville Special Service Area No. 2004-104 October S,2004 w q/ o \ ai E/ \ƒ ƒ /k ,CO 3 q c / m CD 6 r � ® 2 \ \ 0) \_ k / < \ ® « 2 / « \ a g 2 c G Z ® ¥ Z J g w 2 c = $ \ § M q S = @ 0 0 0 k ® / \ $ ƒ \ E F- Q = 0 cc� P-� d / t / w = (D { � k / ■ o o $ m I2 o [ � > k / \ \ / / k § \ c * 2 w < � � jL \ £ � \ \ > > w o « < < < < < 0 4 o w = m cLn U ' z 2 2 2 2 2 r Z q \ \ / w 2 � 3 -a a Cl 0* E E , \ / w o « 2 a \ ® 7 / q Z $ \ § < < < < < 0 < < o $ \ \ a u .2 e o 2 2 2 2 2 % 2 2 2 $ 3 2 C F- Z0 Q ± ® CL \ J J � / ® 0 m Co § p 2 2 2 { j % u = m = 4 � 2 M < # _ < 4 < 4 $ � ® \ § Q w a g 2 A o 2 2 2 2 \ d ° - _ � 0 » q q g y \ { \LL 2 / E 4 -0 f E = 2 ® a = : > o w 0 ` -0 a) ® G > / -0 ƒ « ) 0 a = 5 , 6 R = E $ / \ \ G -0� E 8 k § CL - = o w = 2 = � ƒ / 2 \ ® c � , , _ ! / q \ ( \ \ >, o a e G J y f / £ \ \ \ \ � 2 / = G t * % § / b G t > c b �Q 2 @ , ® ® co > 2 a = \ 4 ƒ -E E / / � E / / 3 \ { / } 2 } ( $ $ f = E 5 G % / 2 , o \ \ / ; _ , = m 3 / E E k m 2 � f ° 7 2 ® \ ® ) 7 7 / 0 /£ J JQ / O k / / 3RR y3 C. STORM WATER MANAGEMENT FACILITIES Storm sewer facilities are sized based upon estimated storm flows, which vary with the size of the tributary drainage area, slope, soil type, antecedent runoff condition, and impervious ground cover. In its "TR-55, Urban Hydrology for Small Watershed (the "TR-55 Manual"), the United States Department of Agriculture specifies average "runoff curve numbers" for purposes of measuring storm flows or runoff. The runoff curve number for fully developed urban areas indicated in the TR-55 Manual vary by land use type, impervious area, and hydrologic soil group. Assuming generally uniform antecedent runoff and hydrologic soil conditions within SSA No. 2004-104, storm flows will tend to vary with land use and the associated impervious area. Impervious ground coverage factors for residential development vary by development density or the number of dwelling units per gross acre, with gross acreage being exclusive of open space. The anticipated gross density for the three residential land uses are as shown in Table 4 below. The TR-55 Manual estimates impervious ground area at approximately 30.00% for development densities of 3.0 units to an acre, 40.00% for development densities of 4.0 units to an acre, and 65.00% for development densities of 8.0 or greater units to an acre. The TR-55 Manual does not contain impervious ground areas for apartments, elementary schools, and clubhouses. For apartments, the impervious ground area for commercial is used as a proxy (85.00% impervious area per acre). The impervious ground coverage factor for the School Property is based on discussion with the school district's architect. The impervious ground coverage for the Clubhouse Property has been provided by the developer's engineer and is based upon the preliminary clubhouse plans. Table 5 on the following page shows the impervious ground area factors and their equivalency (i.e., the average impervious area for each land use type expressed in terms of the average impervious area for the typical single-family home) for SSA No. 2004-104. Special Tax Roll and Report Page 16 United City of Yorkville Special Service Area No.2004-104 October 5,2004 c © W) a k 'q 04 k / < G @ n j \ � k / \ w� $ ® ® � � a 2 § k $ \ \ k \ J z k g _ a a / \ 3 - : ¥ f / . 3 \ m k k k k k ' � « / / 2: / S e E 9 � \ # k LO k CL k k k k k z z k E £ r n n ° 07 / � ) cn _ » e & § E E z k \ « \ \ < \ \ « § f \ c- _ & > ■ 0 2 5 a 2 a w � a to m _ \ z � n n CO n \ / j / w -i ■ S r ' � Em@ R] < � o2 - f # ® > ■ ■ _ f R { % \ N K Z k k k k � z 2 ® i Lu Cl & z « » & e s2 q q 0 & f $ k § } Z $ < -j * / \ / / < -i LU g . 2 ¥ < w o < < < « � [ 7a - ) 2 < Z � § \ 7 \ z z z z § § / ] 2 } e cn u a = « � = U ± c R § o / � o (a .2 LL c k k k N \ / k k k \ / \ / / O e R � E • I ° CL CL M _ E = 7 u % / SE 0 { 2 ] C E 2 E @ ) § 5 = = 0 6 22E \ 2 -OM k m 2 k 8 E E e ` O .2 i'3 » s _k R § ! o - � _ _ 2) m° baa2» . k } I § g § 3 $ ® _ o = c $ m ] E } ® « 7 k k k -5 > C m o ® co >1 a c a 0 CL § _ n = ® a e o _ = E . ? S e e % § { } @ . \ \ b 2 E o 0 a ) '2 § \ k � C % \ 2 = o = § t 2 $ ® B ■ c c o a o ' e § & c = - �� $ « O R < m g -i £ a w 3 w 4 \. 3. ALLOCATED COSTS As mentioned previously, SSA No. 2004-104 is anticipated to fund community and neighborhood improvements for Central Grande Reserve. However, this section shows the allocation of all the community and neighborhood public improvements in an effort to provide a comprehensive public improvement cost allocation. a. COMMUNITY IMPROVEMENTS The community improvements are allocated to each land use type within the benefit area in accordance with the equivalent units shown in Tables 2, 3, 4, and 5. The cost per equivalent unit is computed first. Then, the cost per equivalent unit is multiplied by the equivalent unit factor for each land use to arrive at the cost per dwelling unit. These calculations are shown in Tables 6, 7, 8 and 9. Special Tax Roll and Report Page 18 United City of Yorkville Special Service Area No.2004-104 October 5,2004 TABLE 6 SSA No. 2004-104 CENTRAL GRANDE RESERVE COMMUNITY WATER IMPROVEMENTS -COST PER EQUIVALENT UNIT Total Total Cost Per Estimated Equivalent Equivalent Communi Improvement Cost Units [11 nit r2l. r31- Water $578,402 2,415.000 $240 Grand Total 3 $578,402 $240 [1] From Table 2. [2] Total estimated cost divided by applicable total equivalent units. [3] Calculations may vary slightly due to rounding. TABLE 7 SSA No. 2004-104 CENTRAL GRANDE RESERVE COMMUNITY WATER IMPROVEMENTS -ALLOCATED COSTS BY LAND USE Community Water Improvements Cost Per Equivalent Equivalent Unit Allocated Land Use 1 Unit [21 Factor 3 Cost 4 , 5 (1) Single-family -Typical (per DU) $240 1.000 $240 (2) Single-family -Age Targeted (per DU) $240 1.000 $240 (3) Duplex (per DU) $240 0.857 $205 (4) Townhome (per DU) $240 0.857 $205 (5) Apartment (per DU) $240 0.514 $123 (6) School (per school) $240 46.429 $11,120 (7) Clubhouse (per clubhouse) $240 6.429 $1,540 8 Commercial (per parcel) $240 12.857 1 $3,079 [1] Land uses represent the Dwelling Units and other property in North Grande Reserve,Central Grande Reserve and South Grande Reserve. [2] From Table 6. [3] From Table 2. [4] Cost per equivalent unit multiplied by equivalent unit factor. [5] Calculations may vary slightly due to rounding. TABLE 8 SSA No. 2004-104 CENTRAL GRANDE RESERVE COMMUNITY ROAD AND ASSOCIATED SEWER,WATER,AND STORM SEWER IMPROVEMENTS CENTRAL GRANDE RESERVE COST PER EQUIVALENT UNIT Total Total Cost Per Estimated Equivalent Equivalent Improvement Description Cost 1 Units [21 Unit 3 4 Sewer and Water Road Associated $2,132,212 1,223286 $1,743 Lift Station $361,500 1,223.286 $296 Road Improvements $1,998,689 1,170.762 $1,707 Storm Sewer Improvements Road Associated $1,111,399 1,109.155 $1,002 Storm Sewer Main $361,498 1,109.155 $326 Storm Water Detention (Earthwork) $3,925,070 1,109.155 $3,539 Storm Water Detention Basins $2,527,500 1,109.155 $2,279 Grand Total 4 $12,417,868 $10,891 [1] See Exhibit A. [2] From Tables 3,4, and 5, as applicable. [3] Total cost divided by applicable total equivalent units. [4] Calculations may vary slightly due to rounding. m O O a _v Q v � Q Q m p N Z r Z a Z E Q O Efl EA fA m U 0.w L c E E = L 00 Q rn co Q Q ap.+ O Z to co Z N c7 Z 3 w U. o ci d U) L c d N N � LO LO In In > . r Q r r Q r r Q V ,Q Z Z 9 - Z W W V o 0 O w _7 Z — - Z 0 Z > c Q 0 6% W N -W a > aci h S`— 0 O ea = L °o Q �i r Q `O O Q Z p = V O Z co (O Z v Z O E Q o o co of W ~ m � 0 O *� Z U) Q U y > Z r Z R Z W W W V C'D EA � EA b9 o W Q ~ W °> o C 0 d rn r r v o co J N Z W Q V O Q Q Co Q r m Q d O w N Z r r Z Z Z o W E Q C EA 69 EiT Q J > > U > O o Q' < � G C M. Z F- Q W .,w O 1- r- � of W O y •C w O Z cxD W Z v Z U Q Z W= �. r O O cL) LL m G C9 QL L c J 3 a !6 r+. M Q f�') M Q M M Q U Oy y > .0 O Z O O Z O O z c } V U W I- 0 Z C w � a •3 O o m U > O N m L o Q a o v m a W vpi c ° o N w p O E prn C N y d 0 c Q U CL m co ri i ui E E m a E a N T c m a� p N 7 N N m a) T c It °o pC E F a � p. O Q U � O C O O N O O p fA cn O F Q U) U U LL LL U ti Li U J' b. NEIGHBORHOOD IMPROVEMENTS The costs for each neighborhood are grouped with other neighborhoods comprised of the same land use. Each neighborhood within the Grande Reserve Subdivision contains a single land use. Then, these costs are simply allocated on a Dwelling Unit basis because the land uses are sufficiently uniform that the public facilities usage factors do not vary within land use type. An estimate of probable costs for each neighborhood has been prepared by the developer's engineer, a summary of which is attached hereto as Exhibit A. The aggregated neighborhood costs by land use type are shown for SSA No. 2004-104 in Table 10 on the following page. Special Tax Roll and Report Page 22 United City of Yorkville Special Service Area No.2004-104 October 5,2004 a c m ©0 \ z k k o z < a Q§ 0 CL 2n I \ p g §N §ƒ % 3: \ r- a a 2 E 0 k / / ¥ / 2 / CD / < r 2 < o 3 2 7 \ 2 w $ k0 m e _ z / / C') < « OD <CL C14 CN } E E c � 2 Cl)G o 0 UJ 0 0 U') W § \ g k 7 \ k w u u o y LO LO 2 ] > e e 2 & & / § \ _ © 8 = § � e \ 6 o } \ 0 z j \ < « z w ° & k 0 « ® * * . « 2 > ; a _ e _ C 2 ƒ § I [ ( w = E i 7 A LU § \ 4 R Z 3 $ « ) z z k o \ ~ ~ ~ C § \ 0 0 0 (D " . R % $ § k ƒ 0 / / k w e & Q 7 CL Q f k � 2 _ D \ f kk ° � ! ■ » e � F $ � / . ƒ ƒ / R § { r \ L m [ \ 2 a \ . ] \ \ \ 2 e c 6 ¥ § � E V) 8 ■ E \ k x § » f « a 3 e < R ] U & o J R - = aam Aggregating the allocated costs in the preceding tables results in the total allocated costs by land use shown in Table 11 on the following page. Special Tax Roll and Report Page 24 United City of Yorkville Special Service Area No.2004-104 October S,2004 TABLE 11 SSA No. 2004-104 CENTRAL GRANDE RESERVE CENTRAL GRANDE RESERVE -TOTAL ALLOCATED COST BY LAND USE Land Use [11 Total Communitv Nei hborhood (1) Single-family-Typical (per DU) $26,806 $11,131 $15,676 (2) Single-family-Age Targeted (per DU) NA NA NA (3) Duplex(per DU) $17,239 $7,664 $9,575 (4) Townhome (per DU) $16,078 $7,753 $8,325 (5) Apartment (per DU) NA NA NA (6) School (per school) $459,699 $459,699 $0 7 Clubhouse (per clubhouse $176,410 $176,410 $0 [1] Land uses represent the Dwelling Units and other property in Central Grande Reserve only. 4. SSA FUNDED COSTS The Eligible Improvements anticipated to be funded by SSA No. 2004- 104 including proceeds from the Second Series are shown in Table 12 on the following page. Note, with respect to SSA No. 2004-104, the developer will privately finance all of the improvements allocated to the School Property and the Clubhouse Property. Therefore, these properties are exempt from the Maximum Parcel Special Tax. Special Tax Roll and Report Page 26 United City of Yorkville Special Service Area No.2004-104 October S,2004 2 2 \ ) z z z z z § 1 ) z ) z z z z z o o U ® 0 - k J z z z z z k } ] LU \ 0 p § > 2 a ~ � a 2 U) W �. & % k w 2 2 LU z k a n r § } § t \ f 2 & o 0 a & 2 u LU z _ o 't \ o ] v 0 / 2 0 0 a w M 2 a w & - - 4 / m J i Q Q Q § § z 2 R $ 0 2 ® z f 2 $ U 2 z z z z z U) ƒ 2 a ® ■ _ \ k \ � Z \ m 2 [ z z z z z J � 0 z z z z z § 6 ° o D 0 % 0 j E k CD k CD ƒ 0 © E (L . ) rL E a 6 § 0 j $ # S = g 2 e R / / O D. ALTERNATIVES,MODIFICATIONS,AND/OR SUBSTITUTIONS The description of the Eligible Improvements, as set forth herein, is general in nature. The final description, specifications, location, and costs of improvements and facilities will be determined upon the preparation of final plans and specifications and completion of the improvements. The final plans may show substitutes, in lieu or modifications to the Eligible Improvements in order to accomplish the works of improvements, and any substitution, increase, or decrease to the amount of public improvements financed shall not be a change or modification in the proceedings as long as (i) the allocation of the Eligible Improvement costs actually funded by SSA No. 2004-104, using the preceding methodology, is uniform for each land use and (ii) such allocation results in the same ratio of funded Eligible Improvements among the land use types, as shown in Section VII below. VI. BOND ASSUMPTIONS Total authorized bonded indebtedness is $35,000,000. It is anticipated that the Eligible Improvements will be financed through the issuance of two series of bonds. Bonds in the approximate amount of $13,200,000 and $16,700,000 are anticipated to be issued in November 2004 and January 2007, respectively. Issuance costs are estimated to be approximately five percent (5.0%) of the principal amount of the bonds. Each bond issue is estimated to include a reserve fund equal to approximately ten percent (10.0%) of the original principal amount of the bonds and approximately twenty-eight months of capitalized interest. The term of the bonds is expected to range from 28 to 30 years. Annual debt service payments will increase approximately 1.5%annually. The final sizing of the bonds may be modified as appropriate to meet the objectives of the financing and prevailing bond market conditions. These modifications may include, but are not limited to, changes in the following: • Bond timing, phasing, and/or escrows; • Capitalized interest period; • Principal amortization(i.e., bond term and annual debt service payment); • Reserve fund size and form; and • Coupon rates. The actual bonded indebtedness and consequently the amount of public improvements funded by SSA No. 2004-104 may increase or decrease depending on these variables. VII. MAXIMUM PARCEL SPECIAL TAX As mentioned previously, no Eligible Improvements for the School Property and the Clubhouse Property will be financed by SSA No. 2004-104. Therefore, these properties will not be subject to the Maximum Parcel Special Tax. The discussion that follows applies only to the remaining Residential Property. Special Tax Roll and Report Page 28 United City of Yorkville Special Service Area No.2004-104 October S,2004 A. EQUIVALENT UNITS When multiple land uses are anticipated, the Maximum Parcel Special Tax is a function of the (i) relative amounts of the Eligible Improvement costs funded for such land uses and (ii) the associated Maximum Parcel Special Taxes required to pay debt service on the Bonds. In order to measure the relative difference in funded public improvement costs for each land use type, equivalent unit factors have been calculated for the Eligible Improvements to be funded by SSA No. 2004-104. Single-family Dwelling Units are deemed the typical residential unit and are assigned an equivalent unit factor of 1.00. The equivalent unit factors for other land use types are computed as the ratio of the funded Eligible Improvements for such land use type to the funded Eligible Improvements for a single-family Dwelling Unit. Equivalent unit calculations are shown in Table 13 on the following page. Special Tax Roll and Report Page 29 United City of Yorkville Special Service Area No.2004-104 October S,2004 TABLE 13 SSA No. 2004-104 CENTRAL GRANDE RESERVE CENTRAL GRANDE RESERVE -EQUIVALENT UNITS FOR FUNDED COSTS BY LAND USE Equivalent Total Funded Unit Dwelling Equivalent Land Use Costs Factor Units Units (1) Single-family Property (per DU) $18,641 1.000 723 723.000 (2) Duplex Property (per DU) $15,248 0.818 224 183.232 (3) Townhome Property (per DU) $12,880 0.691 298 205.907 (4) School Property (per school) $0 0.000 NA 0.000 (5) Clubhouse Property (per clubhouse) $0 0.000 NA 0.000 Grand Total 1,245 1 1,112.139 B. MAXIMUM PARCEL SPECIAL TAX CALCULATION The Maximum Parcel Special Tax is derived from the required Maximum Parcel Special Taxes for SSA No. 2004-104, which are equal to the sum of the estimated (i) maximum annual interest and principal payments on the Bonds, net of projected earnings on the reserve fund, (ii) a contingency for delinquent Special Taxes, and (iii) estimated Administrative Expenses. The Maximum Parcel Special Tax is computed in two steps. First, the Maximum Parcel Special Tax per equivalent unit is calculated. Then, that amount is multiplied by the applicable equivalent unit factor for each land use type. Therefore, the Maximum Parcel Special Taxes are weighted in proportion to the allocation of funded Eligible Improvements as shown in Section V, and consequently the amount of the Maximum Parcel Special Tax bears a rational relationship to the benefit that the special services render to each Parcel within SSA No. 2004-104 as required pursuant to the Act. These calculations are shown in Tables 14 and 15 on the following page. Special Tax Roll and Report Page 31 United City of Yorkville Special Service Area No.2004-104 October 5,2004 TABLE 14 SSA No. 2004-104 CENTRAL GRANDE RESERVE MAXIMUM PARCEL SPECIAL TAX PER EQUIVALENT UNIT CALENDAR YEAR 2005 Maximum Required Parcel Maximum Special Tax Parcel Total Per Special Equivalent Equivalent Development Area Taxes Units Unit[1] Central Grande Reserve $2,334,285 1,112.139 1 $2,099 [1] Maximum Parcel Special Taxes divided by total equivalent units. TABLE 15 SSA No. 2004-106 CENTRAL GRANDE RESERVE MAXIMUM PARCEL SPECIAL TAX CALENDAR YEAR 2005 Central Grande Reserve Maximum Parcel Special Tax Maximum Per Equivalent Parcel Equivalent Unit Special Land Use Unit Factor Tax 1 (1) Single-family Property (per DU) $2,099 1.000 $2,099.00 (2) Duplex Property (per DU) $2,099 0.818 $1,717.00 (3) Townhome Property (per DU) $2,099 0.691 $1,450.00 (4) School Property (per school) NA NA NA 5 Clubhouse Property (per clubhouse NA NA NA [1] Calculations may vary slightly due to rounding. C. ESCALATION The Maximum Parcel Special Tax that has been levied in each subsequent Calendar Year escalates one and one-half percent (1.50%) annually, rounded to the nearest dollar, with such escalation commencing in Calendar Year 2006.Note, that while the annual increase in the Maximum Parcel Special Tax is limited to one and one-half percent (1.50%) which is consistent with the anticipated graduated payment schedule for interest and principal on the Bonds, the percentage annual change in the Special Tax extended may be greater depending upon actual Special Tax receipts, capitalized interest, investment earnings, and Administrative Expenses, D. APPLICATION Prior to the recordation of a Final Plat, the Maximum Parcel Special Tax for a Parcel of Residential Property shall be calculated by multiplying the number of expected single-family, duplex, or townhome Dwelling Units for such Parcel by the applicable Maximum Parcel Special Tax. For each Calendar Year for which the Maximum Parcel Special Tax has been levied, the expected number of single- family, duplex, or townhome Dwelling Units shall be based on the most recent Concept Plan or Preliminary Plat in effect as of September 30 of that year. Subsequent to the recordation of the Final Plat but prior to the initial sale of each Dwelling Unit, the Maximum Parcel Special Tax for a lot of Residential Property shall be calculated by multiplying the Maximum Parcel Special Tax per Dwelling Unit by the applicable Maximum Parcel Special Tax determined pursuant to Table 15, as increased in accordance with Section VI.0 above by the number of anticipated Dwelling Units to be constructed on such lot. (e.g., for a single-family lot, one Dwelling Unit is anticipated.) E. TERM The Maximum Parcel Special Tax shall not be levied after Calendar Year 2032 (to be collected in Calendar Year 2033). F. SPECIAL TAX ROLL AMENDMENT Each Calendar Year, in conjunction with the abatement ordinance adopted by the City, the City shall amend the Special Tax Roll to reflect the Maximum Parcel Special Tax applicable to any new Parcels established by the County. The amended Special Tax Roll shall be recorded with the County. G. OPTIONAL PREPAYMENT The Maximum Parcel Special Tax for any Parcel may be prepaid and the obligation of the Parcel to pay the Maximum Parcel Special Tax permanently satisfied pursuant to Section A of Exhibit C attached hereto, provided that a prepayment may be made only if there are no delinquent Special Taxes with Special Tax Roll and Report Page 33 United City of Yorkville Special Service Area No. 2004-104 October 5,2004 respect to such Parcel at the time of prepayment. The Maximum Parcel Special Tax may also be prepaid in part, provided that proceeds for any such prepayment are sufficient to permit the redemption of Bonds in such amounts and maturities deemed necessary by the Administrator and in accordance with the Bond Indenture. An owner of a Parcel intending to prepay the Maximum Parcel Special Tax, either partially or in full, shall provide the City with written notice of intent to prepay. Within 30 days of receipt of such written notice, the City or its designee shall notify such owner of the amount of the Special Tax Bond Prepayment or the Partial Special Tax Bond Prepayment, as applicable, for such Parcel and the date through which the such amount shall be valid. H. MANDATORY PREPAYMENT If at any time the Administrator determines that there has been or will be a reduction in the Maximum Parcel Special Taxes as a result of an amendment to the Concept Plan, Preliminary Plat, Final Plat, or other event which reduces the anticipated number of Dwelling Units as shown in Section B of Exhibit C, attached hereto,then a Mandatory Special Tax Prepayment shall be calculated. As required under the Bond Indenture, the City may adopt a supplemental ordinance to provide for the levy of the Mandatory Special Tax Prepayment. VIII. ABATEMENT METHODOLOGY AND COLLECTION A. ABATEMENT METHODOLOGY On or before the last Tuesday of December of each Calendar Year, commencing with Calendar Year 2005 and for each following Calendar Year, the City or its designee shall calculate the Special Tax Requirement. 1. Prior to the Issuance of the Second Series Prior to the issuance of the Second Series, the Special Tax Requirement will be funded only by the Maximum Parcel Special Taxes applicable to the First Series Property. The Special Tax authorized by the ordinance providing for the issuance of the Bonds shall be abated each year to the extent the amounts so authorized exceed the Special Tax Requirement, The Maximum Parcel Special Tax applicable to each Parcel of First Series Property shall be abated in equal percentages until the Special Taxes remaining equal the Special Tax Requirement. The Maximum Parcel Special Tax applicable to Second Series Property shall be abated in full. 2. Subsequent to the Issuance of the Second Series Subsequent to the issuance of the Second Series, the Special Tax Requirement will be funded by the Maximum Parcel Special Taxes applicable to both the First Series Property and the Second Series Special Tax Roll and Report Page 34 United City of Yorkville Special Service Area No. 2004-104 October 5,2004 Property. The Maximum Parcel Special Tax authorized by the ordinance providing for the issuance of the First Series and Second Series shall be abated each year to the extent the amounts so authorized exceed the Special Tax Requirement. The Maximum Parcel Special Tax applicable to each Parcel shall be abated in equal percentages until the Special Taxes remaining equal the Special Tax Requirement. Notwithstanding the above, if the Administrator determines there are sufficient moneys available pursuant to the Bond Indenture (i.e. capitalized interest) to pay the debt service on the Second Series for the bond year next following the calculation of the Special Tax Requirement, the Maximum Parcel Special Tax applicable to the Second Series Property shall be abated in full and the Maximum Parcel Special Tax for the First Series Property shall be abated pursuant to Section VIII.A.I above. B. COLLECTION PROCESS The Special Tax shall be billed and collected by the County in the same manner and at the same time as general ad valorem property taxes. The lien and foreclosure remedies provided for in Article 9 of the Illinois Municipal Code shall apply upon the nonpayment of the Maximum Parcel Special Tax levied against any Parcel. The Council may provide for other means of collecting the Special Tax, if necessary to meet the financial obligations of SSA No. 2004-104. The Mandatory Special Tax Prepayment shall be due prior to any development approval, subdivision of land, conveyance, or other action that results in a reduction in the Maximum Parcel Special Taxes. The Mandatory Special Tax Prepayment shall be levied against the property on which the reduction has or will occur. The Mandatory Special Tax Prepayment shall have the same sale and lien priorities as are provided for regular property taxes. A Mandatory Special Tax Prepayment shall not reduce the Maximum Parcel Special Tax for any Parcel. C. ADMINISTRATIVE REVIEW Any owner of a Parcel claiming that a calculation error has been made in the amount of the Special Tax applicable to such Parcel for any Calendar Year may send a written notice describing the error to the Administrator not later than thirty (30) days after having paid the Special Tax which is alleged to be in error. The Administrator shall promptly review the notice, and if necessary, meet with the property owner, consider written and oral evidence regarding the alleged error, and decide whether, in fact, such an error occurred. If the Administrator determines that an error did in fact occur and the Special Tax should be modified or changed in favor of the property owner, an adjustment shall be made in the amount of the Special Tax applicable to such Parcel in the next Calendar Year. Cash refunds shall only be made in the final Calendar Year for the Special Tax. The decision of the Administrator regarding any error in respect to the Special Tax shall be final. Special Tax Roll and Report Page 35 United City of Yorkville Special Service Area No.2004-104 October 5,2004 IX. AMENDMENTS This Report may be amended by ordinance of the City and, to the maximum extent permitted by the Act, such amendments may be made without further notice under the Act and without notice to owners of property within SSA No. 2004-104 in order to (i) clarify or correct minor inconsistencies in the matters set forth herein, (ii) provide for lawful procedures for the collection and enforcement of the Special Tax so as to assure the efficient collection of the Special Tax for the benefit of the owners of the Bonds, (iii) otherwise improve the ability of the City to fulfill its obligations to levy, extend, and collect the Special Tax and to make it available for the payment of the Bonds and Administrative Expenses, and (iv) make any change deemed necessary or advisable by the City, provided such change is not detrimental to the owners of property subject to the Maximum Parcel Special Tax.No such amendment shall be approved by the Council if it violates any other agreement binding upon the City and unless and until it has (i) found and determined that the amendment is necessary and appropriate and does not materially adversely affect the rights of the owners of the Bonds or the City has obtained the consent of one hundred percent (100.00%) of the owners of the Bonds and (ii) received an opinion of a nationally recognized bond counsel to the effect that the amendment does not violate the Act, and is authorized pursuant to the terms of the Bond Indenture and this Report. K:\C1ients2\Yorkvi11e\Grande Reserve\SSA Report\Central SSA\Central Fixed SSA Report 5.doc Special Tax Roll and Report Page 36 United City of Yorkville Special Service Area No.2004-104 October S,2004 EXHIBIT A COST ESTIMATE SUMMARY FOR THE CENTRAL GRANDE RESERVE PROJECT EXHIBIT A SSA No.2004-104 CENTRAL GRANDE RESERVE BREAKDOWN OF COST ESTIMATE FOR CENTRAL GRANDE RESERVE NBH6-7 NBH8 NBH9-16 SCHOOL CLUBHOUSE 1IMPROVEMENTS TOTAL THM DUP SFH PROPERTY PROPERTY MASTER PLANNED IMPROVEMENTS ROADS BRISTOL $355,757 $55,448 $58,322 $219,696 $19,432 $2,858 KENNEDY $1,140,262 $177,721 $186,933 $704,165 $62,284 $9,159 MILL $614,902 $95,838 $100,806 $379,731 $33,587 $4,939 GALENA $304,353 $47,436 $49,895 $187,952. $16,625 $2,445 STATE ROUTE 34 $381,056 $59,391 $62,470 $235,320 $20,814 $3,061 SUBTOTAL MASTER PLANNED ROAD $2,796,330 $435,835 $458,427 $1,726,864 $152,742 $22,462 WATER WATER TOWER $896,570 $187,209 $140,720 $529,901 $34,028 $4,712 TWO WELLS $686,357 $143,315 $107,727 $405,658 $26,050 $3,607 WELL HOUSE&TREATMENT $1,650,803 $344,696 $259,101 $975,676 $62,655 $8,675 GALENA ROAD WATERMAIN $326,716 $68,220 $51,280 $193,099 $12,400 $1,717 STATE ROUTE 34 WATERMAIN $253,268 $52,884 $39,752 $149,689 $9,613 $1,331 WATERMAIN BETWEEN WELLS $227,941 $47,595 $35,776 $134,720 $8,651 $1,198 ENGINEERING AND SURVEY TESTING $455,883 $95,191 $71,553 $269,441 $17,303 $2,396 LESS ESTIMATED RECAPTURE ($46,387 $0 $0 $0 ($40,746 ($5,642 SUBTOTAL MASTER PLANNED WATER $4,451,150 $939,110 $705,908 $2,658,185 $129,954 $17,994 COMMUNITY IMPROVEMENTS SANITARY SEWER ROAD ASSOCIATED $1,734,908 $362,258 $272,301 $1,025,384 $65,847 $9,117 LIFT STATION $361,500 $75,483 $56,739 $213,658 $13,720 $1,900 SUBTOTAL COMMUNITY SEWER $2,096,408 $437,741 $329,040 $1,239,042 $79,567 $11,017 WATER ROAD ASSOCIATED $397,304 $82,959 $62,359 $234,819 $15,079 $2,088 GALENA WATER MAIN $146,491 $30,588 $22,992 $86,581 $5,560 $770. STATE ROUTE 34 WATER MAIN $146,491 $30,588 $22,992 $86,581 $5,560 $770 SUBTOTAL COMMUNITY WATER $690,286 $144,135 $108,343 $407,981 $26,199 $3,628 STORM SEWER ROAD ASSOCIATED $1,111,399 $198,736 $133,461 $724,497 $34,282 $20,423 STORM SEWER MAIN $361,498 $64,642 $43,410 $235,653 $11,151 $6,643 STORM WATER DETENTION(EARTHWORK) $3,925,070 $701,865 $471,336 $2,558,670 $121,072 $72,127 STORM WATER MANAGEMENT $2,527,500 $451,957 $303,511 $1,647,624 $77,963 $46,446 SUBTOTAL COMMUNITY STORM SEWER $7,925,468 $1,417,199 $951,717 $5,166,444 $244,468 $145,639 ROADS COLLECTOR ROADS $1,400,003 $218,204 $229,515 $864,567 $76,472 $11,246 EARTHWORK $142,772 $22,252 $23,406 $88,168 $7,799 $1,147 RIGHT OF WAY $455,914 $71,059 $74,742 $281,548 $24,903 $3,662 SUBTOTAL COMMUNITY ROADS $1,998,689 $311,515 $327,662 $1,234,284 $109,173 $16,055 PARKS $1,391,481 $303,670 $228,262 $859,549 $0 $0 SUBTOTAL COMMUNITY PARKS $1,391,481 $303,670 $228,262 $859,549 $0 $0 NEIGHBORHOOD IMPROVEMENTS SANITARYSEWER $3,701,300 $655,600 $515,200 $2,530,500 $0 $0 WATER $3,701,300 $655,600 $515,200 $2,530,500 $0 $0 STORM SEWER $3,306,100 $417,200 $358,400 $2,530,500 $0 $0 ROADS $5,250,503 $752,450 $756,000 $3,742,053 $0 $0 SUBTOTAL NEIGHBORHOOD IMPROVEMENTS $15,959,203 $2,480,850 $2,144,800 $11,333,553 $0 $0 SOFT COSTS CONSTRUCTION MANAGEMENT $737,341 $125,779 $103,741 $488,946 $15,023 $3,852 PRELIMINARY ENGINEERING $60,860 $10,382 $8,563 $40,358 $1,240 $318 FINAL ENGINEERING $529,382 $89,303 $100,382 $334,856 $4,110 $731 VILLAGE ENGINEER REVIEW FEES $327,717 $55,903 $46,109 $217,316 $6,677 $1,712 OTHER PERMIT FEES $141,163 $24,080 $19,861 $93,608 $2,876 $738 TORNADO SIREN $38,785 $8,464 $6,362 $23,959 $0 $0 SUBTOTAL SOFT COSTS $1,835,249 $313,911 $265,018 $1,199,042 $29,926 $7,351 GRAND TOTAL COSTS $39,144,264 $6,783,967 $5,539,178 $25,824,944 $772,030 $224,145 NUMBER OF UNITS 1 1,2451 2981 2241 7231 NAI NA EXHIBIT B SPECIAL TAX ROLL O N t CO t N 0 t a0 N N N O t O N t N 0 O N (O (fl (fl N O O N O M (D O O r o C t O O CA t O CO ( O Cl N O M M CD CO C Lo O r � M N (1 t cr O o0 N (D CA LO O r r N O O O (f') O M M 0 O M r I t M N 0 O � W N CO LO M It O M M M O M O r N N M M t t t Cn LO LO CO 0 r r r O 00 O O C77 O O N N M Cl) N N N N N N N N N N N N N N N N N N N N M M M M M M CO CO r, W d) Ef) 69. Uf) Q1- 69 d) d) U3 69. V3 V> W W EH Vi 61) 61) N-) 69. CA fR Cf) (f) (R fA d> O O O 0 (D 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 N Q 69. 613 N) 69. 61) 69. 69. v3 61) CR 69. 61) 69. 69 69. 61) 69 69. 69. (R 69. 69. 69. 69. E1) 69. H) 69. O � N C� (NO t LOO r N 00 r Ct0 Oti N m N O t 0) 1 Lo CO M 0) 00 00 000 007 (NO r N CMD Q = W 00 LO O Lr) O O C l O M (` N O O C O C LO C O LO Lr LO Ili N r t t M Cl) 0) (D I N O r Ln It N o M N CO LO 'V M M N N N N N M M t Lr) CO >- (n N V LLOO Lc') LNr7 LM LM LQ Lr) LOO L j L j LOO LOO CO0 CD CND CD CD CDD (OD CCDD ((00 COO COD Or r Co I w W (» w » w 61) (» 69. (s (» (» w r» (fl (s U�l 61) 61) 61) 69. 69. (» (» (a (fl (fl 69. W W Q > p J uj W uj 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Y vN JQ H C) U=� 613, 61) (l) (,�1 W�l () 61) » W (» (» fl (» (» (» (» <» » (R (» (» R » » » () fl E O� cWX = zCo CD x , p N O N O t O O O N CD O t O O N t O N t N O t W O N t O N t N t O O 0) O N LO 0 07 r- 00 O N O n LO M t t O M O LO t O N Z O (0 (O M O (C M .- CC LL) M C w LO M r Cl CC O LO M N O O C, CO r r r } C 'Q J i Q C,4 t LO LO (D r O 00 O O N M t t LO (D n 00 O O N M t LO CO �/ r t t t t t t It It LO LO LO Ln LO LO LO LO LO LO LO LO 0 CO O M 0 0 0 0 F U N J W U m o W N y N N L= 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Z 0 61) (x (1) 61) (» 61) (a6s (» (» (flU3. 61W (» oil (» (» Y� (R (» (» (a (s (» W60 w Z W Q U W Qp T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 C0 61) 61) 61) (fl (a (s W (» m 62 (fl 69. (� � 61) 61) 61) (» 69. 61) 69. (s 61) 69. 61) 61) 61) (» W LO J O Q O U ° n- 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 �? EA 61) w (A 69. Wj EH 69. 61) 69. (s (» (a v) (t) (f) (s) r» to » U+l (� m W. m (» Vol (» r r N O L=L O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 cn m w CF) (iT (f) (» 61) 61) (& 69. d) 61) 61) (f) 69. 69. 69. (f} m (» 61) W.(» m m V» (» (H O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O 0 0 0 0 0 0 0 0 0 O 0 ,C 0 0 0 0 0 0 0 0 0 0 Cl 0 0 0 0 0 0 0 0 0 Cl 0 0 0 0 0 0 0 O N t CD O N LO 07 M r N h M O LC7 N O r m M N N M O r OO_ u= LO 0) M co co O co Ln co O M W) O M 0 O N LO N r O M_ 0 O V V U Ln Lr) LO (fl (fl (fl (D r r- r rl W W oc W rn W rn O O O .- U 6 N •C 64 61) d) 64 64 69 V) 6> CH (H V} Ef3 ER 69 EA V3 ff) 69 61) 64 d> 69 69 69 V-) 61) 69 ffT D N O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O N co N Z M O CD M O O CD LO t M M M It LO I O N LO 0) M C(7 m (A LO N 0) r t (0 O N LO r o Cl) (D O N LO 00 r t h t I t It LO O N CO r o0 O a0 O CA O O O O O r r r N N N M M M t t t O LO N N N N N N N N N N N N N N N N N N C� L U) 64 69 VT 69 dJ (Pr 64 69 d? fH Cfl Cf} H) V) M (A 61) 64 61) 6% Ef) 61) 61) Cf3 (A H> 0) T O CL C U d X x o O o O O O O O O 0 O O O 0 0 0 0 o O 0 O O o 0 0 0 0 0 p N (6 0 0 0 0 o O o 0 o O O O O O O O O O O O O 0 O O O O O C) LL I O O N t I O t o0 co co t 00 (D t M N N M t (D co 00 LO 0) t 0 (D Q O O M CO CA N 0 O N 0 0) M O t O N 0 o t co N 0 O LO O t 0) M T L O N N N M CM M t 'V' LO Lr7 M7 (O CO r. P- � O O 0 0 � C C N N N N N N N N N N N N N N N N N N N N N N N N N M CO CO N F W (H 69. (R (i) EA 61) 69. 0% 61) 61) 69. U) 61) 69. H) 61) 61) 61) 61) 61) 61) 64 H) 61) 61) 61) 61) V... N N_ L � f6 ) _N C LO S r O O o r N M t Ln O r O O O N M I 'No CO h N O o N N O O O O O r N N N N N N N N N N M M M o O o O O O O o o O O O O O O O O o O o 0 0 0 O O O O o J U �' N N N N N N N N N N N N N N N N N N N N N N N N N N N N @ CD 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O vT vT (Al 64 W4 vT vT vT EFT vT EFT vT E9 vT vT EFT 64 64 69 UT vT 64 64 0 W. W3 63 63 r O O N 0- LO 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 N Q O 6=T 69 6% vT 69 vT EFT vT vT vi EFT vT vT Vf W3 EfT 69 eFT W4 64 » vT vT EFT EFT 6s 6s EFT M r N NO CO O V W O O CO CO r CO CO n to N CO r V V r W N W (D O M 00 O N Q = M CO M O N CM I,- N CD h O CO W N V O CO 00 N V O O CO M V M r W LL r CO I` W CM N VL CC 0) M (o O (O O CO r I� M O t` O M r r (M O) O O r O N V CD CM M CO W CD M (ri W o M O W M W M N N r O M r O }' p V V V V V O O O O O 0 W 0 n � n � W W 00 N O m m O O O r r N N N N v-T 64 v7 64 69 64 64 64 64 64 64 v3 69 64 64 64 64 64 EfT EFT fFT 69 EFl EFT E9 ER 64 64 uj O V W N CO V O W CO V V V W O O V W V O W V N N N V 0 O V J W W N CM O V N O W O V: W N cc M O N V: CM M r O O W cl O � N (NO n In > w J J Q O M N O W O W O W N co CM M I- r O (M M r- O O V W M r- U)W O U E N N N N N N N N N N N N N N N LO LO N N N N N N N N N N N OM OM IX r 7 c- vT 69 64 64 69 64 64 6% 64 w 64 64 fA 61) FR EFT w EFT EFT vT EFT vT EH EFT 64 69 64 61T Od w = ZO } 00 Q X N 0 V N W V O V W O N V V V N O W N W O N V V V N O (D N W U. W r 0 O O O V W M r O O M F- O V h V I� 0 0 0 M V W 0 Q p �- 00 m r N CO (M co W M r c0 W O It O r r tt 0) O N M O 0 0) O V: N O CIA Z F' O N rn m Ci o (n o f ` r ri C V- (5 (o N 6 trS r v r V` V: (p m M o W 0' J x i Q r M V O O (o (D r- I` W W m O O N M M V O O 0 O h W 0 0 0 ♦� '� M M M M M M M M M M M V V V V V V V V V V V V V V V O O Z V Q 2 i 64 6% vT EFT vT vT vT VT vT vT vT v). vT v> E» vT EFT vT W. W. UT EH 64 64 69 64 64 69 UQ JUG" cN W M O N a o E 1n O o o O o 0 0 O o o O 0 0 0 (n o o O o 0 oro 00 N LO 0 ,CD m O L CD O I- M V O 0 W O M CM W W r V O n O V W Vn CI) CD I� 0) r N V: � CM r V; r r V W r Ir') O It CM M M V 0) O r d Z N - LL M M V I- CO r (M O N CO O W 00 0) O M (M W r W O O M V CO cD CA Z Z � � � r r` r n r r W co W W W W W W (M rn rn rn (M rn rn o 0 0 0 0 0 0 D W Q 6`T 64 FR vT UD vT 60 vT EFT EFT EFT EFT ER 64 64 64 64 6q vT 69 w vT (» vT 6) 61 69 64 U W } � c Q G O O O O O o O O o O o O o O O O O O 0 o O O O O O 0 0 0 p EFT v) 69 UT vT 69 vy vT VT v) 64 64 6% 64 EFT vT 69 V7 ER HJ v9 vT 69 69 64 64 64 EFT W OT J O Q O i U p a- 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4 Q p 64 EFT 64 EFT 69 69 HT W. 69 64 64 64 64 63 64 69 Vy 64 64 6% 69 6% 64 EFT vT vT vT W. �t N p 1'- O (D N r O N V (M V N M V W N M CD (O CM N W V V O 1- N_ O W N (M N Co h W W V m O W W W O M h N V Cl) CY) 0) CO W N I- N (+7 r V: O O N W W r t` W O V: W V: o rl 0 V� O (fl W r r N W CO (r) O LL � M W V M O o W N 00 V r r- M O n Cl) O r V 00 CO CO r W W V N 00 M M M m m M m t V V V V V V V V V V V V V V V O O LO O W) ER W. W, Hi ER E9 U=l ER vT I 64 64 vT 0% W. 64 W W. 69, 6S 69 64 EFT vT EFT 64 W. 64 O o 0 0 0 0 0 0 0 0 o O o O O O O o O o O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O o 0 0 _ O N V W CM N O (M M n N r M (M O N M r` O M N _ N M O n d M = O h (M O co W co o co O W O co O W co M (O CM N O aW) O O r O Cl) CD O O O O W CO CO CD I,- I- il- N W W W 0) M o d N N N N N N N to EFT v} vT vT vT 64 64 vT EFT vT 69 EFT 64 69 W. w 64 69 N CL a 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 V = Q o 0 0 0 0 0 0 0 0 0 0 0 0 0 o O o 0 0 0 0 0 o O o 0 0 o N L n co Oi (O M O W co 0 V M M M V O I` 07 CV O m M W w O O N CM r M N V CD m N O 1` O M 0 0 N O W r V n V r V V O CM N Co d r,� r r cc W W (M 0) CM 0) O O O r r r N N N M M M V V V: Lr O .0 r r N N N N N N N N N N N N N N N N N (U E 64 64 U3 EfT vT 64 64 64 U)T 69 64 vT vT vT 69 64 vT EFT EFT vT vT w ull E9 69 UT 69 64 Cl (7t- a) � O C N d O X X o O O O O O O O O o O O O O O O O O O O O O O O o 0 o O (U M M O o O o 0 0 0 o O o 0 . �-- o O o 0 0 0 0 0 o O o O O O O O O E LLI 0) O N V r O V CO W Cl)M W V CO CD V M N N CO V (D W CO O (M V O (o CL O (M M W M N (o M N (0 0) M t` O V W N CD O V W N (D (D O (M V (M M ?+ O r r r N N N (M M M V V O O O O X h h Ih W W cc 0) 0) O O r C N N N N N N N N N N N N N N N N N N N N N N N N N M M M UT Qq 64 EFT 69 64 UT 64 6} 64 w 69 64 64 617 64 fFT 64 v) 69 69 64 64 W4 vT vT vT w 0 N m L � C M C L �I O CD I- co 0) O r N M V O (D h W (M o N Ce) V O CD r Co 0) O N y F- o O O O O N N N N N N N N N N CO M CO .O o O O O O O O O O O O O O O O O O O O O O O O O o 0 0 o LL = J U N N N N N N N N N N N N N N N N N N N N N N N N N N N N o 0 0 0 0 0 0 0 0 o O O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 LO O J O O O O O o 0 o 0 0 0 0 0 o 0 0 0 o o 0 0 0 0 0 0 0 0 0 W V m lq- O co V O N (D O O (D N M V� O O N CD V V O M CD N Z Q CD Ii m (`M m 0 CD I� N "t O Cl m O N M V O I� N O O m m O O O Cl! O O M O o7 O � � '� � M � n O M r V I� M O a0 I� O r r of 0 M m O V I- B O N N Co-- O v W M m O O L m V mm O I� M W M W (!J F" M M V V V O O O r r � Lb tl0 m O O O O r N M M V N N N N N N N N N N N N N N N N N M CO M M M M M M M M M c VT VT V-J V3 ER 69 VJ d3 VT EH VT V3 V3 613 69 69 69 69 VT (19 69 69 EFT V3 69 6) EFT 63 L O O O O O O O O O O O O O O O O O O O O O O O O O O O O 69 69 69 69 64 69 613 69 EF) V3 69 63 EF3 E) VT V3 69 69 69 64 69 69 EFT V3 69 V} 613 69 N � M N o n CD o 0 o 0 0 0 0 0 0 0 0 0 o 0 0 0 0 0 O o 0 0 0 0 o O o Q N Q 69 64 69 69 613 V3 V3 EFT EFT EF3 691 CF3 69 69 69 EFT VT 60J 69 69 69 69 69 69 613 64 613 V3 W M N >„ O w LL Q = r- m N CND N 00 CND 'VV V l� W Cl) .V0 W M N N 0d' -00 M m CVD co V COD r N r CO Z C' O I, Vr N � I� O M -1 (3 W O L Vw M N r O O m m m m m O O r J w U) N M 00 m O N M V O O O r M m O N Cl) V V O O I- 00 0 N W V V V O O O O O O O O O O O O CD O co (0 O O (D (D CD O P- I- LU J J VT 63 63 69 69 V3 EFT W 63 EA 69 69 69 V3 EFT V3 69 69 V3 V3 EFT EA EA ER 69 V3 69 64 d J Q uj 0 U O o 0 X (9 0 0 0 o 0 0 0 O o 0 0 0 0 0 0 0 0 0 0 0 0 o O o 0 0 0 0 U. N Z IQ- O O 69 V3 69 69 EFT 6S EFT V3 W- V3 69 69 EFT V3 0% V3 69 64 EFT ER 69 69 69 V3 69 69 69 69 r O "'� LY Z o C) Q -j NO (q UJ W) '0 N 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Wfn N C 69 E» VT EFT 69 69 69 V» VT (» 69 ( 69 EFT 613 69 W� V3 EFT V3 » 69 Vs 69 69 69 E» V3 N N Z Z m W Q C N U LLJ m O M O V co m O O O O M r- O N CD O M N O N M N N 0 r m 0 0 0 m I� V O CD co N M M N M Ld V O m r N LO I� N Q? (O � M m O W N cc <t d 0D N CO '� O O N W O Ep O N W CD M o I- O N O w (o o N O m I� o (n Y m m 0 N N M V V O O co I-- w m m 0 N N M M O O O � W Q M M V V V V V V V V V V V V V V V O �f1 0 0 0 0 0 0 0 0 0 fH 69 69 f{T EFJ 69 69 69 EFT 691 69 69 69 VT ER 69 EFT VT W. 69 69 EFT EFT EFT EA V3 W 613 Z LU J (� = O W ER � � 69 69 � EF3 � 69 EA U> W 609 VF U> � 69 UF- W � 69 69 V3 HT � V3 W O O 0 0 0 0 O O 0 0 0 0 0 0 0 0 o O 0 o 0 0 0 0 0 O o 0 0 0 Q EFT 69 69 EFT EFT EFT V3 69 69 EA 69, 69 69 EA EFT 69 69 EFT EFT 69 69 VT V3 69 EA V3 69 69, O r N O = o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o O o 0 0 O 69 VT EFT V3 69 69 V3 V} V3 69 69 69 V3 63 69 EA V3 69 69 EA V3 V3 69 69 69 69 63 EFT U) 0 0 0 0 0 o O O o 0 O O O 0 o 0 0 0 0 O o 0 0 o 0 0 0 0 T O N V (D m N O m CO I- N r M m O N m I- LO M N r r N M O i'- p_ u= O m M CD CO O M O 00 O M O CU r M (0 m N O a0 I,_ O M (fl 0 V^ V } 0 0 0 0 CD (C O CD I� r n r W W W CD m m m 0 0 0 r r r IL ~ (ll •� 64 64 69 69 E3 E3 H3 64 69 V3 Efl V3 64 64 EH FA 69 64 64 V3 EFT 64 69 64 64 64 64 64 N CL U C CL N O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O (::> O O O O O O O O O O O O O O y (B fl) h M m O M O CD O O V M M M V O I- m N O m M m W m O N m I� V 0 m N 0 I- O M O m N O N r V f: V lh V V O m N CD a T 3 r r Ir lr o0 Cb CO m m m G O O O r r r N N N M M M V 69 69 V3 V3 EPr V3 69 69 V3 V3 Efl UY V> V3 V3 � E9 69 64 VT 63 613 EF3 69 613 U% V3 69 p, O C O X X o 0 0 0 o O o 0 o O 0 0 0 0 0 0 o O o 0 0 0 0 0 0 0 O o o m 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o O o 0 0 0 0 0 o d E �- L•LI m O N V I- C7 V 00 M CO V 00 (D V M N N M V CO W 00 O m V O CO O m a2 CO m N CD m N O m m 1� O V co N O O V 00 N (D (0 O m V m M > � O r r r N N N M M C`7 V V O O O O CO r h r M W M m m O O r •� 3 N N N N N N N N N N N N N N N N N N N N N N N N N M M M 613 69 EA W 63 69 69 69 69 V3 VT O 69 69 613 EF3 V3 69 69 613 63 W VT EA VT V3 69 69 F0 N N t3 ` U) 2 N (p O W m 0 N M V O CO I- CO m 0 N N O O O O O N N N N N N N N N N M Cl) O O O O O O O O O O O O O O O O O O o O O O O O O O O LL N N N N N N N N N N N N N N N N N I N N N N N N N N N N N U) C6 U EXHIBIT C PREPAYMENT OF MAXIMUM PARCEL SPECIAL TAX UNITED CITY OF YORKVILLE SPECIAL SERVICE AREA NO. 2004-104 PREPAYMENT FORMULA All capitalized terms not defined in this Exhibit C shall have the meaning given to such terms in the Report. A. OPTIONAL PREPAYMENT OF THE MAXIMUM PARCEL SPECIAL TAX Pursuant to Section VII.G of the Report, the Maximum Parcel Special Tax may be prepaid and permanently satisfied under the conditions set forth therein. The Special Tax Bond Prepayment is calculated as follows. 1. Special Tax Bond Prepayment Prior to the Issuance of any Bonds The Special Tax Bond Prepayment for Residential Property prior to the issuance of any Bonds shall equal the amounts shown in Table A-1 below, subject to changes as described in Section V.D of the Report. If at the time of the prepayment, the Parcel intending to prepay is not located within a Final Plat, the prepayment amount shall be calculated by multiplying the number of expected single-family, duplex, or townhome Dwelling Units for such Parcel as shown on the applicable approved Concept Plan, Preliminary Plat, or Final Plat whichever is the most recent by the corresponding prepayment amount per Dwelling Unit for the corresponding land use. TABLE A-1 SSA No.2004-104 CENTRAL GRANDE RESERVE Special Tax Bond Prepayment per Land Use Dwelling Unit Single-family Property $18,641 /DU Duplex Property $15,248/DU Townhome Property $12,880/DU 2. First Series Property Prior to the Issuance of the Second Series Prior to the issuance of the Second Series, the Special Tax Bond Prepayment for a Parcel of First Series Property means an amount equal to (a) the sum of (1) Principal, (2) Premium, (3) Defeasance, (4) Fees and (b) minus the Reserve Fund Credit where the terms "Principal," "Premium," "Defeasance," 'Tees," and "Reserve Fund Credit" have the following meanings: "Principal" means the principal amount of Bonds to be redeemed and C-1 equals the quotient derived by dividing (a) the then current Calendar Year Maximum Parcel Special Tax for the Parcel intending to prepay by (b) the corresponding Calendar Year Maximum Parcel Special Taxes for First Series Property, (and excluding from (b) that portion of the Maximum Parcel Special Tax for any Parcel(s) of First Series Property that has been prepaid), and multiplying the quotient by the principal amount of outstanding Bonds. "Premium" means an amount equal to the Principal multiplied by the applicable redemption premium, if any, for any Bonds so redeemed with the proceeds of any such prepayment. Any applicable redemption premium shall be as set forth in the Bond Indenture. "Defeasance" means the amount needed to pay interest on the Principal to be redeemed until the earliest redemption date for the outstanding Bonds less any Special Tax heretofore paid and which has not been or will not be used for the Special Tax Requirement. "Fees" equal the expenses of SSA No. 2004-104 associated with the Special Tax Bond Prepayment as calculated by the City or its designee and include, but are not limited to, the costs of computing the Special Tax Bond Prepayment, the costs of redeeming the Bonds, and the costs of recording and publishing any notices to evidence the Special Tax Bond Prepayment and the redemption of Bonds. "Reserve Fund Credit" shall equal the balance in the Reserve Fund (as defined in the Bond Indenture) multiplied by the quotient used to calculate Principal. Reserve Fund earnings to be applied toward the Special Tax Requirement shall not be considered when computing the Reserve Fund Credit. 3. Second Series Property Prior to the Issuance of the Second Series Prior to the issuance of the Second Series, the Special Tax Bond Prepayment amount for a Parcel of Second Series Property shall be calculated pursuant to the preceding Section A.1. 4. After the Issuance of the Second Series After the issuance of the Second Series, the Special Tax Bond Prepayment amount for a Parcel of First Series Property or Second Series Property shall be calculated pursuant to the preceding Section A.2 substituting the Maximum Parcel Special Taxes for SSA No. 2004-104 for the Maximum Parcel Special Taxes for First Series Property when computing Principal. The amount of any Partial Special Tax Bond Prepayment shall be computed pursuant to the appropriate preceding prepayment section substituting the portion of the Maximum Parcel Special Tax to be prepaid for the Maximum Parcel Special Tax when computing C-2 Principal, as applicable. The amount of any Special Tax Bond Prepayment or Partial Special Tax Bond Prepayment computed pursuant to this Section A shall not exceed the Bonds plus any Premium, Defeasance, and Fees as such terms are defined herein. B. MANDATORY PREPAYMENT 1. Mandatory Special Tax Prepayment Calculation Prior to the Issuance of the Second Series Pursuant to Section VII.H of the Report, the Maximum Parcel Special Tax must be prepaid if at any time prior to the issuance of the Second Series the Administrator determines there is or will be a reduction in the number of anticipated Dwelling Units as shown in Table B-1 below for First Series Property. TABLE B-1 SSA No.2004-104 CENTRAL GRANDE RESERVE PROJECTED DWELLING UNITS FIRST SERIES PROPERTY Land Use Dwelling Units Sing e-family Property 490 Duplex Property 0 Townhome Property 0 The Mandatory Special Tax Prepayment amount for First Series Property will be calculated using the prepayment formula described in Section A.2 above with the following modifications: The amount by which the Maximum Parcel Special Taxes have been reduced shall serve as the numerator when computing Principal; and No Reserve Fund Credit shall be given. The Mandatory Special Tax Prepayment does not apply to Second Series Property prior to the issuance of the Second Series, 2. Mandatory Special Tax Prepayment Calculation Subsequent to the Issuance of the Second Series Subsequent to the issuance of the Second Series, if at any time the Administrator determines there is or will be a reduction in the number of anticipated Dwelling Units as shown in Table B-2 on the following page for Residential Property, as may be amended per Section B.3 below, then a Mandatory Special Tax Prepayment shall be calculated. C-3 TABLE B-2 SSA No. 2004-104 CENTRAL GRANDE RESERVE PROJECTED DWELLING UNITS SSA No.2004-104 FIRST SERIES PROPERTY AND SECOND SERIES PROPERTY Land Use Dwelling Units Single-family Property 723 Du lex Property 224 Townhome Property 298 The Mandatory Special Tax Prepayment amount will be calculated using the prepayment formula described in Section A.4 above with the following modifications: The amount by which the Maximum Parcel Special Taxes have been reduced shall serve as the numerator when computing Principal; and No Reserve Fund Credit shall be given. 3. Changes to Projected Number of Dwelling Units Prior to the Issuance of the Second Series The projected number of Dwelling Units for SSA No. 2004-104 as shown in Table B-2 above may be modified provided any such changes to the projected number of Dwelling Units is submitted to and approved by the Administrator prior to the issuance of the Second Series. Notwithstanding the above, the amount of any Mandatory Special Tax Prepayment shall not exceed the Bonds plus any Premium, Defeasance, and Fees as such terms are defined in Section A above. The Mandatory Special Tax Prepayment shall be levied and collected pursuant to Section VII.H and Section VIII.B of the Report. The sum of the amounts calculated in Section A and Section B above shall be paid to the City, deposited with the trustee, and used to redeem Bonds and/or pay for public improvements in accordance with the Bond Indenture and to pay the Fees associated with the Special Tax Bond Prepayment. Upon the payment of the Special Tax Bond Prepayment amount to the City, the obligation to pay the portion of the Maximum Parcel Special Tax which is prepaid for such Parcel shall be deemed to be permanently satisfied, such portion of the Maximum Parcel Special Tax shall not be collected thereafter from such Parcel, and in the event the entire Maximum Parcel Special Tax is prepaid the Administrator shall cause a satisfaction of special tax lien for such Parcel to be recorded within 30 working days of receipt of the Special Tax Bond Prepayment. A Mandatory Special Tax Prepayment shall not reduce the Maximum Parcel Special Tax for any Parcel. C-4 EXHIBIT D CONCEPT PLAN Site Data ,. Acura Eers.m Tow 914 laa to e Perlmel.r A.nd R.U.R. 91.1 9.e Fsalure Aoew 21.40 2.00 commero 0 q wAr Open Span(laol.Det.PvW A Bu!lere)662,48 96.96 •� .'; Ae.ltl.nUel Offi,Ee 68.86 Crw.914 D.mlty 6.66 D.U.IAe. (Me L-- i Reaidantlal Aren It ,{{=- Amltlence 91n11num Awry. SUNmum Tyybal j 0000.. i �'�+ •, N.IQnb"rhne ,Tm2 1&t ma mt..Lo _ - l 1nLNWW Igl N1AtT 2JLlyp, I t 1 1 63n91e Pemlly Ylam NA NA t 6 NA NA 290 a Toro-F.WIY to,— NA So n. 60 n. In GP/�' IT-1— 7Ll NA NA NA 4 UutU-Pemlly NA NA NA NA 900 \ \ 6 T.-,h—. NA NA NA NA iO4 \ 9 T.—h—. NA NA Ito NA 166 7 TDorWOnlw NA NA NA NA 142 6 TNe-r.--I MQW NA NA NA 224 { I� B 9W[!s Femily 10,000 11.00 70 n. 76 n. 106 In to SIn91.Famlly 10,000 11,600 70 n. T6 n. 64 NSIOHBORHODD 1 I Y v 11 91'91:Femliy te,000 IlAce 70 Ft. ?Q A. 61 gpp 32 s1n[le Temtly 31,000 12.060 76 F. BO n. 90 IQTg0.AN0YB00g -- 8m91a y.mity VUler ,jf { t•.! 19 9lntle Femlly 11,000 1&660 71 ft B0 n. 60 14 slot- Femlly 12,000 16,600 60 n. 68 Ft !la 16 -he:Pemlly 121000 It;e00 Pon. 06 Pt as - 10 ah o Pemlly 11,000 18600 70 n. BO Tt 90 11 96t[1e'holly 18,000 15,60o a0 n. 06 Pt. 169 Is 91c[la Pemlly 11,000 19.900 .0 n. 86 n. 1B ",Pemlly 121000 .Iowa 50 n. e5 Total 2846 .. .... ._.. ..........._ ..._ ....i�yq-t RCOKPOSED 0 .,._. SLAKNOE Y SUSDtMSION Oyen 8—Bwetdoorn euburbav TrewlUonal Tow VILLAGE OF a-."A.we Acen2yat Aqua N"bnbmh""a 9aAcn61 ( e'•^ LL A E YuWO1Pe1.14 042 2.00 Lot Let _ - CommunAy cNbh—Aeo. 6.30 6.10 610 -- RDAP 7XE SHEPNENO .t, 110A solflare/Park 9146 27.66 160.00 307.86 10166 --- Dp`ENA 'WWRAN CNURCh 9fnrm,retsr lfsn.9.m.nl '511 n5.°^ 120.61 520.41 ___ - -Om Row 11.41 291.07 652.66 299.05 66.69 SUB, 1t DO 3 Nclw 1.All yerlme4r 104 6 ft.to to.p.b C6vOtr vubdllbfa'e �u.6-mum 2b n.1and.oep.bu!(ei eeaam.nl m eddhlon 4 the yer6 \ % OU�YjRiLPUNRE NE*RA aa— PARKAi10 IM Y U-1-F—, �0� RERI�AL ` �� OOkIPAN 1{ �"n �.. w Osm. QAN )a Pwwlr OOMM� ,Ry Tow NO - iH C .,,.yg6. : ilY F I T T � -11 (' gyP116tD iuE %wpv ToitiNOIn. I ; ,'. Pak. School space i' _ sfi€Ct..� I ;6LACKBERRY OAKS{' 1860. ) SUBDIVISION I 1 ( ' 00 wea Art0 w roll) .JI 1 90N _. 4 a �u and.8- - -_. - saTl+l� ..' Parks t%< eW No el galOna. we r / u„p« @'"ro `t.CJ./l P Group Exhibit "C" 20-0 6600 MPT — Yorkville 01_21_06 ,, Concept Plan UEN LAND DESIGN,INC. SDfi PIaMRelI Reo6 Suila E p,4 0S_2�06 (630) 00-IL 605D GRANDE RESERVE PLANNING•LANDSCAPE ARCHITECTURE (6J0)D25-45D0 Yorkville,TlUnols 6617 NGvnealon6 6b.60b Drieg41L 606$•7A/M3-J720 ,� R.7/A76A6U0 Fog 7R76UD6 tenet plmdOmaOeiAml ORDINANCE NO. 2004-60 AN ORDINANCE AMENDING ORDINANCE NO. 2004-49 (AN ORDINANCE ESTABLISHING UNITED CITY OF YORKVILLE SPECIAL SERVICE AREA NUMBER 2004-104 CENTRAL GRANDE RESERVE) BE IT ORDAINED BY THE CITY COUNCIL OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, AS FOLLOWS: Section 1. Authority. The United City of Yorkville (the "City") is authorized, pursuant to Article VII, Section 7(6) of the Constitution of the State of Illinois, and pursuant to the provisions of the Illinois Special Service Area Tax Law, 35 ILCS 200/27-5 et seq. (the "Act"), to establish special service areas for the provision of special governmental services in portions of the City and to levy or impose a special tax and to issue bonds for the provision of such special services; and pursuant to Section 27-75 of the Act, the special tax roll setting forth the manner in which the special tax will be levied and extended may be set forth in an amendment to the ordinance establishing a special service area. Section 2. Findings. (a) The question of establishment of the area hereinafter described as a special service area (the "Area") was considered by the President and Board of Trustees of the City pursuant to "An Ordinance Proposing the Establishment of Special Service Area Number 2004- 104 Central Grande Reserve in the United City of Yorkville and providing for other Procedures in connection therewith," being Ordinance No. 2004-13, adopted February 24, 2004. The establishment of the Area was considered at a public hearing commenced on March 23, 2004. Said hearing was held pursuant to notice duly published and mailed in accordance with the requirements of the Act. 200400033710 Filed for Record in KENDALL COUNTYr ILLINOIS PAUL ANDERSON 12-02-2004 At 02:0,6 Pit. ORDINANCE 77.00 011.1196684.3 (b) The City Council of the City adopted Ordinance No. 2004-49, An Ordinance Establishing United City of Yorkville Special Service Area Number 2004-104 Central Grande Reserve (the "Establishing Ordinance") on September 14, 2004 pursuant to which the "United City of Yorkville Special Service Area Number 2004-104 Central Grande Reserve" was established consisting of the contiguous territory legally described in Exhibit A hereto with the PIN numbers set forth therein, and outlined on the map of a portion of the City attached as Exhibit B hereto for the purpose of providing special services to the Area in addition to services provided in the City generally and so that bonds may be issued for the purposes aforesaid, payable from taxes levied on real property in the Area in accordance with a special tax roll. (c) The Establishing Ordinance provided that in lieu of an ad valorem tax to be levied and extended for the payment of principal of and interest on any bonds issued on behalf of the Area, a special tax roll shall be established for levying and extending taxes for the payment of principal of and interest on any bonds issued for the purposes of paying for special services benefitting the Area and the administration and maintenance of the Area and that the description of the special tax roll would be as set forth in and approved by an amendment to the Establishing Ordinance. Section 3. Approval of Special Tag Roll. The Special Tax Roll providing for the levying and extending of taxes for the payment of principal of and interest on bonds issued for the purposes of paying for special services benefitting the Area and the administration and maintenance of the Area as described and set forth in the United City of Yorkville Special Service Area Number 2004-104 Central Grande Reserve Special Tax Roll and Report prepared by David Taussig and Associates, Inc. on behalf of the City (the "Report") attached hereto as Exhibit C, incorporated herein and made a part of this Ordinance, is hereby approved. The 2 011.1196684.2 manner of imposition of the special tax shall be as set forth in the Report. The Report may be amended by Ordinance of the City and, to the extent permitted by the Act and subject to the limitations of the Act, may be amended without further notice to owners of property within the Area. Section 4. Supersede Conflicting Ordinance. All ordinances or parts of ordinances in conflict with the provisions of this ordinance are repealed to the extent of each conflict. Section 5. Effective Date. This Ordinance shall be in full force and effect from and after its passage and approval in the manner provided by law. PAUL JAMES _ MARTY MUNNS RICHARD STICKA WANDA OHARE VALERIE BURD ROSE SPEARS LARRY KOT JOSEPH BESCO PASSED AND APPROVED thi4_day c f> )t&&� , 2004 Mayor ATTEST: [SEAL] er Published in pamphlet form , 2004. 3 011.1196684.2 EXHIBIT A GRANDE RESERVE CENTRAL REGION THAT PART OF THE SOUTHEAST QUARTER OF SECTION 11, THAT PART OF SECTION 14, AND THAT PART OF THE NORTH HALF OF SECTION 23, TOWNSHIP 37 NORTH, RANGE 7 EAST OF THE THIRD PRINCIPAL MERIDIAN DESCRIBED AS FOLLOWS: RFGINNING AT THE INTERSECTION OF THE CENTERLINE OF KENNEDY ROAD WITH THE SOUTHERLY LINE OF THE BURLINGTON NORTHERN RAILROAD RIGHT-OF-WAY THROUGH SAID SECTION 14; THENCE NORTH 73 DEGREES 14 MINUTES 21 SECONDS EAST ALONG SAID SOUTHERLY LINE 1239.61 FEET TO THE NORTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 14; THENCE NORTH 88 DEGREES 04 MINUTES 00 SECONDS EAST, ALONG SAID NORTH LINE, 610.29 FEET TO THE NORTHEAST CORNER OF SAID NORTHWEST QUARTER; THENCE NORTH 87 DEGREES 54 MINUTES 03 SECONDS EAST ALONG THE SOUTH LINE OF SAID SOUTHEAST QUARTER OF SECTION 11, A DISTANCE OF 1329.33 FEET TO THE WEST LINE OF THE SOUTHEAST QUARTER OF SAID SOUTHEAST QUARTER; THENCE NORTH 01 DEGREES 21 MINUTES 20 SECONDS WEST ALONG SAID WEST LINE, 511.01 FEET TO SAID SOUTHERLY LINE OF THE BURLINGTON NORTHERN RAILROAD; THENCE NORTH 73 DEGREES 14 MINUTES 21 SECONDS EAST, ALONG SAID SOUTHERLY LINE, 837.66 FEET TO THE CENTERLINE OF MILL ROAD; THENCE SOUTH 74 DEGREES 18 MINUTES 13 SECONDS EAST ALONG SAID CENTERLINE 546.02 FEET TO THE EAST LINE OF SAID SOUTHEAST QUARTER OF SECTION 11; THENCE SOUTH 01 DEGREE 19 MINUTES 08 SECONDS EAST ALONG SAID EAST LINE, 556.17 FEET TO THE SOUTHEAST CORNER OF SAID SOUTHEAST QUARTER; THENCE SOUTH 01 DEGREE 19 MINUTES 08 SECONDS EAST ALONG THE EAST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 14, A DISTANCE OF 1122.0 FEET; THENCE SOUTH 87 DEGREES 45 MINUTES 51 SECONDS WEST, 438.0 FEET TO THE NORTHEAST CORNER OF LYNWOOD SUBDIVISION, EXTENSION FOUR; THENCE SOUTH 87 DEGREES 45 MINUTES 51 SECONDS WEST, ALONG THE NORTHERLY LINE OF SAID LYNWOOD SUBDIVISION, EXTENSION FOUR, 1168.80 FEET TO THE NORTHWEST CORNER THEREOF; THENCE SOUTH 01 DEGREE 46 MINUTES 18 SECONDS EAST, ALONG THE WESTERLY LINE OF LYNWOOD SUBDIVISION, EXTENSIONS FOUR AND FIVE, 1173.80 FEET TO AN IRON STAKE; THENCE SOUTH 01 DEGREE 47 MINUTES 49 SECONDS EAST, ALONG THE WESTERLY LINE OF LYNWOOD SUBDIVISION, EXTENSION FIVE, 376.25 FEET TO AN IRON STAKE; THENCE SOUTH 02 DEGREES 01 MINUTES 46 SECONDS EAST ALONG THE WESTERLY LINES OF LYNWOOD SUBDIVISION, EXTENSIONS FIVE AND SIX, 1950.62 FEET TO AN IRON STAKE; THENCE SOUTH 01 DEGREE 51 MINUTES 08 SECONDS EAST, ALONG THE WESTERLY LINE OF LYNWOOD SUBDIVISION, EXTENSION SIX, 879.29 FEET TO THE CENTERLINE OF U. S. ROUTE NO. 34; THENCE SOUTH 45 DEGREES 14 MINUTES 47 SECONDS WEST ALONG SAID CENTERLINE 878.60 FEET; THENCE NORTH 37 DEGREES 07 MINUTES 26 SECONDS WEST, 2106.30 FEET; THENCE NORTH 47 DEGREES 17 MINUTES 26 SECONDS WEST, 1500.85 FEET TO THE CENTERLINE OF KENNEDY ROAD AND THE EASTERNMOST CORNER OF A TRACT DESCRIBED IN A QUIT CLAIM DEED TO GEORGE AND GLENNA PATTERSON, HUSBAND AND WIFE, RECORDED AS DOCUMENT NO. 72- 375 ON JANUARY 25, 1979; THENCE NORTH 25 DEGREES 56 MINUTES 49 SECONDS EAST ALONG SAID CENTERLINE 236.34 FEET; THENCE NORTHEASTERLY AND NORTHERLY,A RADIUS OF 800.0 FEET; AN ARC DISTANCE OF 419.10 FEET; THENCE NORTH 04 DEGREES 04 MINUTES 07 SECONDS WEST ALONG SAID CENTERLINE 531.06 FEET; THENCE NORTH 05 DEGREES 06 MINUTES 07 SECONDS WEST ALONG SAID CENTERLINE 1866.0 FEET TO THE POINT OF BEGINNING IN BRISTOL TOWNSHIP, KENDALL COUNTY, ILLINOIS AND CONTAINING 372.223 ACRES. ALSO: THAT PART OF SECTIONS FOURTEEN (14), FIFTEEN (15) AND TWENTY- THREE (23), ALL IN TOWNSHIP THIRTY-SEVEN (37) NORTH, RANGE SEVEN (7) EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHERLY CORNER OF STRUKEL'S PARADISE LAKE UNIT NO. 1, (SAID POINT ALSO BEING THE INTERSECTION OF THE CENTERLINE OF BRISTOL ROAD AND THE CENTERLINE OF KENNEDY ROAD), AS SHOWN ON THE SUBDIVISION PLAT OF STRUKEL'S PARADISE LAKE UNIT NO. 1 RECORDED AS DOCUMENT#71-215; THENCE NORTH 60 DEGREES 17 MINUTES 26 SECONDS EAST, 724.86 FEET ALONG THE CENTERLINE OF KENNEDY ROAD TO THE POINT OF CURVATURE OF A 1094.72 FOOT RADIUS CURVE TO THE LEFT; THENCE NORTHEASTERLY 631.18 FEET ALONG SAID CURVE WHOSE CHORD BEARS NORTH 43 DEGREES 46 MINUTES 24 SECONDS EAST 622.47 FEET TO THE POINT OF TANGENCY OF SAID CURVE; THENCE NORTH 27 DEGREES 15 MINUTES 21 SECONDS EAST 11.57 FEET ALONG SAID CENTERLINE TO A POINT; THENCE SOUTH 37 DEGREES 39 MINUTES 00 SECONDS EAST 1776.45 FEET TO A POINT; THENCE SOUTH 52 DEGREES 21 MINUTES 00 SECONDS WEST 1343.89 FEET TO A POINT IN THE CENTERLINE OF BRISTOL ROAD; THENCE NORTH 37 DEGREES 39 MINUTES 00 SECONDS WEST 1778.85 FEET ALONG SAID CENTERLINE TO THE POINT OF BEGINNING. ALSO: THAT PART OF SECTIONS FOURTEEN (14) AND TWENTY-THREE (23), ALL IN TOWNSHIP THIRTY-SEVEN (37) NORTH, RANGE SEVEN (7) EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHERLY CORNER OF STRUKEUS PARADISE LAKE UNIT NO. 1, (SAID POINT ALSO BEING THE INTERSECTION OF THE CENTERLINE OF BRISTOL ROAD AND THE CENTERLINE OF KENNEDY ROAD), AS SHOWN ON THE SUBDIVISION PLAT OF STRUKEUS PARADISE LAKE UNIT NO, 1, RECORDED AS DOCUMENT#71-215; THENCE SOUTH 37 DEGREES 39 MINUTES 00 SECONDS EAST 177S.85 FEET ALONG THE CENTERLINE OF BRISTOL ROAD FOR THE POINT OF BEGINNING; THENCE NORTH 52 DEGREES 21 MINUTES 00 SECONDS EAST 1343.89 FEET TO A POINT; THENCE SOUTH 37 DEGREES 39 MINUTES 00 SECONDS EAST 1645.23 FEET TO A POINT IN THE CENTERLINE OF ILLINOIS ROUTE 34; THENCE SOUTH 46 DEGREES 33 MINUTES 17 SECONDS WEST 1350.80 FEET ALONG SAID CENTERLINE OF ILLINOIS ROUTE 34 TO THE INTERSECTION OF THE CENTERLINE OF BRISTOL ROAD; THENCE NORTH 37 DEGREES 39 MINUTES 00 SECONDS WEST 1781.63 FEET ALONG SAID CENTERLINE OF BRISTOL ROAD TO THE POINT OF BEGINNING. ALSO: THAT PART OF SECTIONS FOURTEEN (14)AND TWENTY-THREE (23), ALL IN TOWNSHIP THIRTY-SEVEN (37) NORTH, RANGE SEVEN (7) EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHERLY CORNER OF STRUKEL'S PARADISE LAKE UNIT NO. 1, (SAID POINT ALSO BEING THE INTERSECTION OF THE CENTERLINE OF BRISTOL ROAD AND THE CENTERLINE OF KENNEDY ROAD), AS SHOWN ON THE SUBDIVISION PLAT OF STRUKEL'S PARADISE LAKE UNIT NO. 1, RECORDED AS DOCUMENT#71-215; THENCE NORTH 60 DEGREES 17 MINUTES 26 SECONDS EAST 724.86 FEET ALONG THE CENTERLINE OF KENNEDY ROAD TO THE POINT OF CURVATURE OF A 1094.72 FOOT RADIUS CURVE TO THE LEFT; THENCE NORTHEASTERLY 631.18 FEET ALONG SAID CURVE WHOSE CHORD BEARS NORTH 43 DEGREES 46 MINUTES 24 SECONDS EAST 622.47 FEET TO THE POINT OF TANGENCY OF SAID CURVE; THENCE NORTH 27 DEGREES 15 MINUTES 21 SECONDS EAST 11.57 FEET ALONG SAID CENTERLINE FOR THE POINT OF BEGINNING; THENCE CONTINUE NORTH 27 DEGREES 15 MINUTES 21 SECONDS EAST 551.92 FEET ALONG SAID CENTERLINE TO A POINT; THENCE SOUTH 45 DEGREES 56 MINUTES 15 SECONDS EAST 1501.96 FEET ALONG AN EXISTING FENCE LINE TO A POINT; THENCE SOUTH 35 DEGREES 48 MINUTES 56 SECONDS EAST 2104.69 FEET ALONG SAID FENCE LINE TO A POINT IN THE CENTERLINE OF ILLINOIS ROUTE 34; THENCE SOUTH 46 DEGREES 33 MINUTES 17 SECONDS WEST 652.28 FEET ALONG SAID CENTERLINE TO A POINT; THENCE NORTH 37 DEGREES 39 MINUTES 00 SECONDS WEST 3421.68 FEET TO THE POINT OF BEGINNING. ALSO: THAT PART OF THE SOUTH HALF OF SECTION 11 AND PART OF THE NORTHWEST QUARTER OF SECTION 14, TOWNSHIP 37 NORTH, RANGE 7 EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIDED AS. POLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF SECTION 11; THENCE SOUTH 0 DEGREES 57 MINUTES 0 SECONDS WEST 442 FEET TO THE NORTH LINE OF THE RIGHT OF WAY OF THE CHICAGO, BURLINGTON AND QUINCY RAILROAD; THENCE NORTH 75 DEGREES 17 MINUTES 0 SECONDS EAST 1728 FEET ALONG SAID RIGHT OF WAY LINE TO THE SOUTH LINE OF SECTION 11; THENCE SOUTH 89 DEGREES 53 MINUTES 0 SECONDS EAST 1001.25 FEET ALONG THE SOUTH LINE OF SAID SECTION 11 TO THE SOUTHEAST CORNER OF THE WEST HALF OF SAID SECTION 11; THENCE NORTH 89 DEGREES 54 MINUTES 0 SECONDS EAST 1339.5 FEET ALONG THE SOUTH LINE OF SAID SECTION 11 TO THE SOUTHEAST CORNER OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SAID SECTION 11; THENCE NORTH 0 DEGREES 40 MINUTES 0 SECONDS EAST 977.5 FEET TO THE CENTERLINE OF THE HIGHWAY; THENCE NORTH 74 DEGREES 15 MINUTES 0 SECONDS WEST 727.2 FEET ALONG SAID CENTERLINE; THENCE NORTH 79 DEGREES 10 MINUTES 0 SECONDS WEST 2877.4 FEET ALONG SAID CENTERLINE TO THE CENTERLINE OF A NORTH AND SOUTH HIGHWAY; THENCE SOUTH 7 DEGREES 7 MINUTES 0 SECONDS EAST 364.8 FEET ALONG THE CENTER OF SAID NORTH AND SOUTH HIGHWAY; THENCE NORTH 89 DEGREES 47 MINUTES 0 SECONDS WEST 503.33 FEET TO THE WEST LINE OF SAID SECTION 11; THENCE SOUTH 0 DEGREES 52 MINUTES 0 SECONDS WEST ALONG SAID WEST LINE 1327.6 FEET TO THE POINT OF BEGINNING; EXCEPT THAT PART LYING NORTHERLY OF THE SOUTHERLY RIGHT OF WAY LINE OF THE CHICAGO, BURLINGTON AND QUINCY RAILROAD AFORESAID IN THE TOWNSHIP OF BRISTOL, KENDALL COUNTY, ILLINOIS. PiN: 02-11-300-005 02-14-352-001 02-11-400-005 02-15-477-001 02-14-100-007 02-23-126-001 02-14-100-009 02-23-201-001 02-14-201-001 EXHIBIT B 107.17 1013t'�) \ ry a>7. i ` t 1 �■� `.� 0.1177[ st�c P w yr�K x coo t � PNREL]vo Ina 1� PN0ZL1N0 ifl ye !mv« Ta Is7es�' 'NORTH REGION 1 ■ PAN.n•11Op000] � S� CPEE S onni'[1w Eo15(Nt •L"' [ a1/Y E p�T PAN 03.11y0DE0S IT tIM taVK[ CoMNYdE 'LPMLfLl1W� a7170'■ a come x 1 avro �' q 1 •'40 X14 ] I] I Y REGION MAP I P.LNOb141aMQ •«w4e P.I.H n•14]Ot-0Ot Y7 SAY71'• OR GRANDE RESERVE, YORKVILLE, ILLINOIS •CENTRA�RECroM f n « n « I ■■ OIMOT■ ff OIY1Y' x ■ ! Y 1 7 Y77' •INLAN S D Lau 1 1 NN > .yy.1054roso STi�Ty� •Oc70']0' I — I 7 I PArv.Ox-t4100°OL I y] I I a I n 1 1 P1N.01.14100-001 Y mY I IV L7 I s s n]rlr[I]]Lq ■ 7 °°\ I YP[ I z« F • f t °y I .c « x 1 •0'IC7]' I [ ] • r�r�. r Lem I \ PAM.O7ts+51-00 `M<•'"3�1■Y/OY ')j. I >a x a I M n+r4r MNra Ff t 1 v x sue• `1C 1 « 1 1 PIINCEL� L P.LM x•14057 r n® I y, x b PMCFLI •'KONICE -- -I— ——��— t PA1101-]13ad01• t -- rb ---- — �E� mac- • 3 i� 'STEINSRECHER L s� + ♦ r wY° °°\■.wc FARM P.' x.n IIla ',n • I v r V ne«• tx ]mx • 'SOUTH REGIO ■ L y f O M ■ L!1[ NS S • 9 L .q PAM.01->lt La Y! ] M • lw «LM UL« l • °■ l S S PMC4l1 SIMI f • u1>, I[LL y • S • =` :: 0 S I • ° y ! • I U ! • ILL I P.lrv. -23-InILp1 a 6 S< ♦ / \ • m ♦ L ' I L ■ IL] 1 b w s • na I '� y • • \ 1 to 1 ] R 1 / f t N« u S • I PAtt n-1118td0 y I L 1 F7■11U S 7 a, I a I ■ coyo �o°Tiroll► PIRPA•ED raa G��c-`ICS I a�rcP�e�Q1' �s Commathirm EY5LRO�yRRSu /r P � a MM'lTl]A llllr L0Y] a Mw 11'F]IO our R� I � ()�0�1 EXHIBIT C UNITED CITE' OF YORKVILLE SPECIAL SERVICE AREA NUMBER 2004-104 CENTRAL GRANDE RESERVE SPECIAL TAX ROLL AND REPORT Prepared for Prepared by UNITED CITY OF YORKVILLE DAVID TAUSSIG& ASSOCIATES,INC. 800 Game Farm Road 1301 Dove Street, Suite 600 Yorkville, IL 60560 Newport Beach, CA 92660 (630) 553-7575 (949) 955-1500 UNITED CITY OF YORKVILLE SPECIAL SERVICE AREA NUMBER 2004-104 CENTRAL GRANDE RESERVE SPECIAL TAX ROLL AND REPORT TABLE OF CONTENTS Section Page I. INTRODUCTION....................................................................................................................1 II. DEFINITIONS........................................................................................................................1 III. SPECIAL SERVICE AREA DESCRIPTION..............................................................................5 A. BOUNDARIES OF SSA N0. 2vv4-'1v4............................................................I.........I....... B. ANTICIPATED LAND USES.............................................................................................5 IV. FINANCING PLAN.................................................................................................................5 V. SPECIAL SERVICES..............................................................................................................6 A. GENERAL DESCRIPTION................................................................................................6 B. ESTIMATED COSTS........................................................................................................7 C. ALLOCATION OF COSTS ................................................................................................9 D. ALTERNATIVES, MODIFICATIONS, AND/OR SUBSTITUTIONS.......................................28 VI. BOND ASSUMPTIONS..........................................................................................................28 VII. MAXIMUM PARCEL SPECIAL TAX....................................................................................28 A. EQUIVALENT UNITS....................................................................................................29 B. MAXIMUM PARCEL SPECIAL TAX CALCULATION.......................................................31 C. ESCALATION...............................................................................................................33 D. APPLICATION..............................................................................................................33 E. TERM..........................................................................................................................33 F. SPECIAL TAX ROLL AMENDMENT...............................................................................33 G. OPTIONAL PREPAYMENT.............................................................................................33 H. MANDATORY PREPAYMENT.................................................................................:......34 VIII. ABATEMENT METHODOLOGY AND COLLECTION............................................................34 A. ABATEMENT METHODOLOGY.....................................................................................34 B. COLLECTION PROCESS................................................................................................35 C. ADMINISTRATIVE REVIEW..........................................................................................35 IX. AMENDMENTS....................................................................................................................36 List of Exhibits Exhibit A — Cost Estimate Summary for the Central Grande Reserve Project Exhibit B— Special Tax Roll Exhibit C — Prepayment of the Maximum Parcel Special Tax Exhibit D — Concept Plan I. INTRODUCTION Pursuant to the provisions of the Act and in accordance with the "Establishing Ordinance" being Ordinance No. passed by the City Council of the United City of Yorkville, County of Kendall, State of Illinois, on , 2004 in connection with the proceedings for Special Service Area Number 2004-104 Central Grande Reserve (hereinafter referred to as "SSA No. 2004-104"),this Special Tax Roll and Report of SSA No. 2004-104 (the 'Report") is herewith submitted and made part of the Establishing Ordinance. H. DEFINITIONS The terms used herein shall have the following meanings: "Act" means the Special Service nrea Tax ��t, being 3 IT CS 200/27-5 et seq., as amended. "Administrative Expenses" means the following actual or reasonably estimated costs permitted in accordance with the Act and directly related to the administration of SSA No. 2004-104 and the Bonds as determined by the City or its designee: the costs of computing the Special Taxes and of preparing the amended Special Tax Roll (whether by the City or designee thereof or both); the costs of collecting the Special Taxes (whether by the City, the County, or otherwise); the costs of remitting the Special Taxes to the fiscal agent and/or trustee for any Bonds; the costs of the fiscal agent and/or trustee (including its legal counsel) in the discharge of the duties required of it under the Bond Indenture; periodic costs on the Bonds, including, but not limited to, the costs of remarketing and letter of credit draw fees; the costs of the City or designee in computing the amount of rebatable arbitrage, if any; the costs of the City or designee in obtaining or maintaining ratings of the Bonds; the costs of the City or designee in complying with the disclosure requirements of applicable federal and state securities laws and of the Act, including, but not limited to, public inquiries regarding the Special Taxes; the costs associated with the release of funds from any escrow account or funds held pursuant to the Bond Indenture; and any termination payments owed by the City in connection with any guaranteed investment contract, forward purchase agreement, or other investment of funds held under the Bond Indenture. Administrative Expenses shall also include amounts advanced by the City for any administrative purpose of SSA No. 2004-104 including the costs of computing Special Tax Bond Prepayment amounts, recording of lien satisfaction or other notices related to a Special Tax Bond Prepayment, Partial Special Tax Bond Prepayment, or Mandatory Special Tax Prepayment, discharge or satisfaction of Special Taxes; and the costs of commencing and pursuing to completion any foreclosure action arising from and pursuing the collection of delinquent Special Taxes and the reasonable fees of legal counsel to the City incurred in connection with all of the foregoing. "Administrator" means the designee of the City responsible for determining the Special Taxes and assisting the City and the County in providing for the collection of the Special Taxes, continuing disclosure, and any other administrative efforts related to SSA No. 2004-104. Special Tax Roll and Report Page I United City of Yorkville Special Service Area No.2004-104 October 5,2004 "Annexation Agreement" means that Annexation Agreement and Planned Unit Development Agreement dated August 7, 2003 between the City and MPI-2 Yorkville North LLC, MPI-2 Yorkville Central LLC, MPI-2 Yorkville South I LLC, and MPI-2 Yorkville South II LLC. "Bond Indenture" means the trust indenture dated as of November 1, 2004 between the City and LaSalle Bank National Association and any supplemental indentures between the City and the trustee named therein authorizing the issuance of the Bonds. "Bonds" means any bonds or other debt, including refunding bonds, whether in one or more series, issued by the City and secured by the Maximum Parcel Special Tax for SSA No. 2004-104, the proceeds of which will be used to finance inter alia, all or a portion of the public improvements. "Calendar Year" rneaiis the twelve-month period starting January 1 and ending December 31. "Central Grande Reserve" means all property within the area defined as the Central Grande Reserve as shown in Exhibit D attached hereto (i.e., neighborhoods 6— 16 on the Concept Plan,the School Property, and the Clubhouse Property). "City" means the United City of Yorkville, County of Kendall, State of Illinois. "Clubhouse Property" means that property within the boundaries of SSA No. 2004-104 on which the clubhouse facility has been, may be, or is anticipated to be constructed as determined from the Concept Plan (i.e., designated as HOA Club), any Preliminary Plat, or any Final Plat, as applicable. "Concept Plan" means the concept plan for the Grande Reserve project attached as Exhibit D to the Annexation Agreement, as may be amended. "Council" means the Mayor and City Council, having jurisdiction over SSA No. 2004- 104. "County" means the County of Kendall, Illinois. "Duplex Property" means that property within the boundaries of SSA No. 2004-104 on which duplex Dwelling Units have been, may be, or are anticipated to be constructed as determined from the Concept Plan, any Preliminary Plat, or any Final Plat, as applicable. "Dwelling Unit" or "DU" means a residential dwelling unit. "Final Plat" means a final plat of subdivision approved by the City and recorded with the County. "First Series" means the first series of Bonds issued for SSA No. 2004-104, Special Tax Roll and Report Page 2 United City of Yorkville Special Service Area No. 2004-104 October S,2004 "First Series Property" means the lots in the following table: Lots Numbers/ Neighborhood Number of DUs Land Use Designation Recordation Data 10 Lots 344—427 Single-family Property Final Plat Recorded on August 17,2004 11 Lots 91 —177 Single-familX Property Final Plat Recorded on July 7,2004 12 Lots 1—90 Single-family Property Final Plat Recorded on July 7,2004 13 Lots 178—227 Single-fa il Property Final Plat Recorded on Jul y 7,2004 14 Lots 228—343 Single-family Property Final Plat Recorded on July 7,2004 15 Lots 428—490 Single-family Property Final Plat Recorded on July 7,2004 "Grande Reserve Subdivision" means all the property located within North Grande Reserve, Central Grande Reserve, and South Grande Reserve. "Mandatory Special Tax Prepayment" means the Special Tax Bond Prepayment required upon a reduction in the anticipated number of Dwelling Units as described more fully in Section VII.H herein and calculated pursuant to Exhibit C attached hereto. "Maximum Parcel Special Tax" means the maximum special tax, determined in accordance with Section VII that can be collected by the City in any Calendar Year on any Parcel. Maximum Parcel Special Taxes means the amount determined by multiplying the actual or anticipated number, as applicable, of Single-family Property, Duplex Property, or Townhome Property Dwelling Units by the applicable Maximum Parcel Special Tax. "Maximum SSA Special Taxes" means the Maximum Parcel Special Taxes plus any additional special taxes levied, in accordance with any supplemental ordinances adopted by the City that can be collected by the City in any Calendar Year. "North Grande Reserve" means all property within the area defined as the North Grande Reserve as shown in Exhibit D attached hereto (i.e., neighborhoods 1 — 5 on the Concept Plan and the Commercial Property). "Parcel" means a lot or parcel within the boundaries of SSA No. 2004-104 shown on a Final Plat and/or PIN Map. "Partial Special Tax Bond Prepayment" means that amount required to partially prepay the Maximum Parcel Special Tax computed pursuant to Exhibit C attached hereto. "PIN Map" means an official map of the County Assessments Division or other authorized County official designating Parcels by permanent index number. "Preliminary Plat" means the preliminary subdivision plat(s) for SSA No. 2004-104 approved by the City, as may be amended. "Residential Property" means all property within the boundaries of SSA No. 2004-104 on which Dwelling Units have been, may be, or are anticipated to be constructed as determined from the Concept Plan, Preliminary Plat, or any Final Plat, as applicable. Special Tax Roll and Report Page 3 United City of Yorkville Special Service Area No. 2004-104 October 5,2004 "School Property" means all property on which an elementary school in SSA No. 2004- 104 has been, may be, or is anticipated to be constructed as determined from the Concept Plan, Preliminary Plat, or any Final Plat, as applicable. "Second Series" means the second series of Bonds issued for SSA No. 2004-104 (exclusive of any refunding Bonds). "Second Series Property" means the lots in the following table: Lots Numbers/ Neighborhood Number of DUs Land Use Designation Recordation Data 6 156 DUs Townhome Property Final Plat Not Recorded,Number of DUs Based on Concept Plan Final Plat Not Recorded,Number of 7 ]42 DUs Townhome Property _ DUs Based on Concept Plan Final Plat Not Kecorded,Lit i;ou7t 8 224 DUs Duplex Property Based on Conce t Plan 9 Lots 589—723 Single-family Property Final Plat Recorded on July 7,2004 16 Lots 491 —588 Single-family Property Final Plat Recorded on July 7,2004 "Single-family Property" means that property within the boundaries of SSA No. 2004- 104 on which single-family Dwelling Units have been, may be, or are anticipated to be constructed as determined from the Concept Plan, any Preliminary Plat, or any Final Plat, as applicable. "South Grande Reserve" means all property within the area defined as the South Grande Reserve as shown in Exhibit D attached hereto (i.e., neighborhoods 17 — 19 on the Concept Plan). "Special Tax" means the special tax to be extended in each Calendar Year on each Parcel. "Special Tax Bond Prepayment" means that amount required to prepay the Maximum Parcel Special Tax computed pursuant to Exhibit C attached hereto in order to fully release the lien of the Maximum Parcel Special Tax. "Special Tax Requirement" means that amount determined by the City or its designee as required in any Calendar Year to pay: (1) the Administrative Expenses, (2) debt service on any Bonds, (3) reasonably anticipated delinquent Special Taxes, (4) any amount required to replenish any reserve fund established in connection with such Bonds, (5) the costs of credit enhancement and fees for instruments that serve as the basis of a reserve fund in lieu of cash related to any such Bonds and less (6) available funds as directed under the Bond Indenture. "Special Tax Roll" means the Special Tax Roll included herein as Exhibit B, as may be amended pursuant to Section VII.F. "Townhome Property" means that property within the boundaries of SSA No. 2004- 104 on which townhome Dwelling Units have been, may be, or are anticipated to be Special Tax Roll and Report Page 4 United City of Yorkville Special Service Area No.2004-104 October 5,2004 constructed as determined from the Concept Plan, any Preliminary Plat or any Final Plat, as applicable. III. SPECIAL SERVICE AREA DESCRIPTION A. BOUNDARIES OF SSA No. 2004-104 SSA No. 2004-104 is a portion of the Grande Reserve Subdivision and includes the residential components, the School Property, and the Clubhouse Property of Central Grande Reserve, which total approximately five hundred thirty-four (534) acres. A legal description is attached as Exhibit C of the Establishing Ordinance. The Grande Reserve Subdivision is generally located north of State Route 34, northeast of Bristol Ridge Road, and east of Kennedy Road. B. ANTICIPATED LAND USES While SSA No. 2004-104 encompasses only the development within Central Grande Reserve, certain Eligible Improvements will benefit other development areas of the Grande Reserve Subdivision, namely North Grande Reserve and South Grande Reserve. Therefore,these development areas are included as part of the discussion, where applicable. 1. NORTH GRANDE RESERVE North Grande Reserve is anticipated to consist of 290 single-family Dwelling Units, 126 duplex Dwelling Units, and 409 townhome Dwelling Units, 300 apartment Dwelling Units, and the Commercial Property. It is anticipated that the 290 single-family Dwelling Units in the North Grande Reserve will be an age-targeted active adult community. 2. CENTRAL GRANDE RESERVE Central Grande Reserve is anticipated to consist of 723 single-family Dwelling Units, 224 duplex Dwelling Units, 298 townhome Dwelling Units, the Clubhouse Property, and the School Property. 3. SOUTH GRANDE RESERVE South Grande Reserve is anticipated to consist of 276 single-family Dwelling Units. IV. FINANCING PLAN Pursuant to the Annexation Agreement, the maximum special service area bonded indebtedness permitted for the Grande Reserve Subdivision is $60,000,000. The special service area financing plan contemplates the issuance of approximately $12,950,000 and $47,050,000 in variable and fixed rate bonds, respectively. All of the bonds to be issued in variable rate mode have been issued by the previously established SSA No. 2004-106 Special Tax Roll and Report Page 5 United City of Yorkville Special Service Area No.2004-104 October 5,2004 Total Grande Reserve. All of the fixed rate bonds will be issued by separate special service areas established for the North Grande Reserve, Central Grande Reserve, and South Grande Reserve (each a "Development Area"). The property included within North Grande Reserve, Central Grande Reserve, and South Grande Reserve overlaps SSA No. 2004-106 Total Grande Reserve. The Report focuses on the fixed rate bonds to be issued by SSA No. 2004-104 Central Grande Reserve. The public improvements to be funded by SSA No. 2004-104 include community and other neighborhood specific sewer, water, road, and storm water management facilities. These costs are described in greater detail in Section V below. V. SPECIAL SERVICES SSA No. 2004-104 has been established to finance certain City special services conferring special benefit thereto and which are in addition to the municipal services provided to the City as a whole. A general description, estimated cost, and allocation of these special services are set forth below. A. GENERAL DESCRIPTION As set forth in the Establishing Ordinance, the special services that are eligible to be financed by SSA No. 2004-104 (hereinafter referred to as the "Eligible Improvements") include, but are not limited to, the following • City owned sanitary sewer facilities, water facilities, road facilities, storm water management facilities, public parks and park improvements, including, but not limited to, the cost of engineering, soil testing and appurtenant work, mass grading and demolition, storm water management facilities, storm drainage systems and storm sewers, site clearing and tree removal, public water facilities, sanitary sewer facilities, erosion control measures, roads, streets, curbs, gutters, street lighting. traffic controls, sidewalks, equestrian paths and related street improvements, and equipment and materials necessary for the maintenance thereof, public parks, park improvements, bicycle paths, landscaping, wetland mitigation and tree installation, costs for land and easement acquisitions relating to any of the foregoing improvements, required tap-on and related fees for water or sanitary sewer services and other eligible costs. Community improvements to be funded include a portion of the following improvements allocable to the Central Grande Reserve: • The Grande Reserve Subdivision adjacent portions of the Galena and State Route 34 water mains; • On-site lift station facilities; • Collector and entrance roads and associated sewer and water facilities and rights-of-way; • On-site storm sewers and associated earthwork. Special Tax Roll and Report Page 6 United City of Yorkville Special Service Area No.2004-104 October 5,2004 Neighborhood improvements to be funded include neighborhood specific sewer, water, road, and storm water management facilities to be constructed within and serving SSA No. 2004-104. B. ESTIMATED COSTS The total estimated Eligible Improvement costs and the portion of the Eligible Improvement costs anticipated to be funded by SSA No. 2004-104 are shown in detail in Exhibit A attached hereto. A summary of these amounts and the allocation of the costs to be funded by SSA No. 2004-104 are shown in Table 1 on the following page. Special Tax Roll and Report Page 7 United City of Yorkville Special Service Area No.2004-104 October S,2004 TABLE 1 SSA No. 2004-104 CENTRAL GRANDE RESERVE ESTIMATED PUBLIC IMPROVEMENT COSTS Anticipated To Be Funded Public Through SSA Public Improvement Description Improvement No. 2004-104 Community [1] Sewer $2,154,405 $2,005,824 Water $1,033,704 $660,460 Storm Sewer $7,294,460 $5,132,269 Roads $3,643,335 $1,446,112 Neighborhood Sewer $3,641,314 $3,623,776 Water $3,641,314 $3,623,776 Storm Sewer $3,246,114 $3,228,576 Roads $5,065,185 $1,010,684 -------------------- -------------------- -------------------------------------------- Grand Total [2] $29,622,033 $20,731,475 [1] Amounts shown represent the total cost for the Grande Reserve Subdivision. [2] Calculations may vary due to rounding. C. ALLOCATION OF COSTS Special taxes levied pursuant to the Act must bear a rational relationship between the amount of the special tax levied against each Parcel within SSA No. 2004-104 and the special service benefit rendered. Therefore, the public improvements anticipated to be financed by SSA No. 2004-104 as shown in Table 1 have been allocated in accordance with the benefit rendered to the property therein, with benefit estimated to be a function of (i) the service or benefit area for said improvements and (ii) the relative capacity for said improvements reserved for or used by properties within the benefit area. A discussion of the relevant benefit area(s) and measures of public facilities usage is detailed below. As mentioned previously, SSA No. 2004-104 is anticipated to fund only certain of the community and neighborhood improvements. However, this section addresses all the Eligible lml;rovements in «.n cffort to provide a comprehensive discussion of benefit areas and the allocation of costs. 1. BENEFIT AREA a. COMMUNITY IMPROVEMENTS The community water and park improvements benefit all of the Grande Reserve Subdivision. The community water facilities are extensions of the master-planned water mains. The benefit area for the remaining community improvements is limited to the boundaries of SSA No. 2004-104. These improvements include community road improvements (i.e., the collector and entrance roads), the earthwork pertaining to the on-site storm water detention areas, and the on-site lift station and storm sewer facilities. b. NEIGHBORHOOD IMPROVEMENTS As mentioned previously, the neighborhood improvements will be constructed within the neighborhoods comprising the Central Grande Reserve, and therefore logically benefit those specific neighborhoods. 2. PUBLIC FACILITY USAGE Once the benefit area has been established, the special services may be allocated among the various properties within such area in accordance with use. As is discussed in the following sections, commonly accepted measures for public facility usage indicate that the benefit conferred by public improvements applies uniformly by land use type. Special Tax Roll and Report Page 9 United City of Yorkville Special Service Area No. 2004-104 October S,2004 a. SEWER AND WATER USAGE The primary determinant of sanitary sewer and water usage is the applicable population equivalent, or P.E. Household population is the criteria commonly used to project sewer and water service demand. Wastewater Engineering, Third Edition indicates that residential wastewater flow rates are typically determined on the basis of population density and the average per capita contribution of wastewater. The Illinois Environmental Protection Agency's ("IEPA") criteria for water storage and distribution systems assume an everyday use equal to 50 gallons per day per person. In addition, an emergency capacity is set at 50 gallons per day per person. This equates to 350 gallons per day for each single-family home given the IEPA P.E. factor of 3.5 for single-family homes. The factors published by the IEPA for apartments range from 1.0 to 3.0 depending upon bedroom count. For purposes of this analysis, a simple average of the three factors published, 1.0 for one bedroom units, 1.5 for two bedroom units, and 3.0 for three or more bedroom units is assumed, resulting in an average P.E. factor of 1.8 for apartment Dwelling Units. The IEPA does not publish P.E. factors for duplex or townhome Dwelling Units, but indicates that the published P.E. factors for apartments may be used to estimate their P.E. As the duplex and townhome Dwelling Units are anticipated to average three bedrooms, a P.E. factor of 3.0 is used. Sewer and water demand for commercial development is a function of the nature and intensity of use. The Commercial Property is a small development site approximately 4.5 acres in size. The developer indicates potential uses would include relatively low P.E. uses such as a service station and convenience market. Therefore, a P.E. factor of 10 per acre is employed in this analysis. Sewer and water demand for public schools is driven by two factors: type of school (i.e. elementary school, middle school, or high school) and the estimated number of students and employees. According to the school district, an elementary school, with an estimated capacity of 600 students and approximately fifty (50) employees, is anticipated to be built in SSA No. 2004-104. Applying the IEPA's standard of 25 gallons per student and employee per day yields a total of 162.50 P.E. for the site. Clubhouse sewer and water demand is a function of the nature and intensity of use. Information provided by the developer's engineer estimated the Clubhouse Property P.E. at 22.50. Tables 2 and 3 on the following pages show these P.E. factors and their equivalency (i.e., the P.E. factor for each land use type expressed in terms of the P.E. factor for a single-family home). Special Tax Roll and Report Page 10 United City of Yorkville Special Service Area No.2004-104 October 5,2004 Table 2 represents the land uses in the North Grande Reserve, Central Grande Reserve, and South Grande Reserve. Table 3 represents the land uses of only SSA No. 2004-104. Special Tax Roll and Report Page 11 United City of Yorkville Special Service Area No.2004-104 October 5,2004 0 > \ 0 k N \ % \ Lo � E \ \ % _ \ > ? b b q % E Q a > = g o = G * _ � w e d d $ o & w m cr w g ca 0 0 0 0 2 / / R S S 2 2 / ) u / 7 \ ? f L & a « N # m \ # w © # - 0 2 � a 5 U- 2 ? S \ N U-) 2 . « ) / w a w o a a © § a E2 ~ ) / a « # G b 0 Z Z Z Z z z z w cn � \ > e > / B B § ) ) $ z 2 0 < < < < < o < < o * j § z z z z Z < z z w § G . w 8 0 E c / o —J C-4 z > III \ j o / 2 k J � J ) ] ] « w ¢ < < < < o < < < o ? . - k 2 z O 7 2 2 2 2 2 2 2 2 2 $ o ) / A « z cn Of s LU Lq \ ) ƒ ] ° @f � 0 o LL \ f � 2 \ S z z z z ° U E ( = t7 § » _ _ n ¥ n , \ ] f - _ O . w 35 0 \ 2 $ 2 \ � $ f � E ) \ ± 5 3 # G & _ ) c 2 E E k § a.m ® & > o jj / o C)CL in : \ � / ] k / _ m ° F \ m G / - / G ; » ° k p k k EL E e = e \ 0 \ \ ) a \ a \ / } o : f o / .0 z ? ® ) U) a = § E 5 _ § : § a E / D y O@ < m g O -0 3 & J 8 J 0 R Lco r- \ 23E yR W) CD 7 c # \ \ N < E q < li \ 2 \ d 2 \ 7 ty LLI ¥ w _ ® 7 o ¥ ¥ q « a > \ % $ k f k � w e e $ = S a cr w g \ C LO S E S o o § / \ % / � (Ni a a o o ® Cli ) \ o / (3 CD S k \ \ � ƒ z a n w w o o �. g a C: / b U) < < < < < < < < o ® LLI 2 2 2 2 2 z z 2 2 d / > - I q b \ w § � � o . ° LU Z w o < < < < < o < < 0 2 n Lu 2 — 2 2 2 2 z r 2 2 w / § w Q 4 E J \ � z > \' » S 2 d o o \ g S f / k \ 2 e 2 k k k k \ k k k § § \ \ t « w / f \ f LU u e ( m \ 0 0 t LL = 2 n o < < < < $ 04 \ 2� 2 2 z 2 V / { \ � f c c . 0 & 5 \ / 'D \ \ 5 & » [ 3f / ] § 2 _ © 6 7 [ ) ) 2 k $ § E t d \ 2 a c a } ) \ k ® a # _ / \ 222 ^ f 1 \ 7 2 } / ° 2 5 m 7 \ / \ \ > CA 2 # « Jt » . E » ° f / � » ( E \ & \ § 2 A E f m w � § - $ x 2 E s % G k / 2 � ) \ { f \ o \ \ / \ E o ® $ & $ \ = g § _ , 7 2 / < / O / ) j u ` / / b. ROAD IMPROVEMENTS Road usage is typically computed on the basis of anticipated trip generation. The Institute of Traffic Engineers publication, Trip Generation, Sixth Edition, indicates average weekday trips per single-family, townhome, and apartment Dwelling Unit of 9.57, 5.86, and 6.59, respectively. As mentioned previously, the single-family property in North Grande Reserve is anticipated to be age-targeted. Consequently, the Traffic Study employs a reduced trip generation assumption of 2.76 trips per Dwelling Unit. As with P.E. factors, trip factors for duplex Dwelling Units are not published in Trip Generation, Sixth Edition. However, Trip Generation, Sixth Edition states that the average weekday trips for residential land uses have higH correlation with the number of vehicles and residents. Therefore, household size is used to estimate the average weekday trips for duplex Dwelling Units. Multiplying the population ratio between a duplex Dwelling Unit and a single-family home (i.e., 3.0 divided by 3.5) by the average weekday trips for single-family homes yields an estimated average weekday trips of 8.20 for a duplex Dwelling Unit. The average weekday trips associated with an elementary school are typically expressed per student and are estimated by Trip Generation Sixth Edition at 1.02 per elementary school student. The developer's engineer estimates average weekday trips for the Clubhouse Property at 90. Table 4 on the following page shows these trip factors and their equivalency (i.e., the average weekday trip factor for each land use type expressed in terms of the average weekday trip factor for the typical single-family home) for SSA No. 2004-104. Special Tax Roll and Report Page 14 United City of Yorkville Special Service Area No. 2004-104 October 5,2004 m k > k < k / < \ � 0 �. M Z q Z ¥ t / 2 c 7 c E w \ � ƒ \ r k / k / k / k Z r M ) c = $ \ k ® Q = @ o 0 0 k ® k / $ ƒ \ C % \ w ■ _ 0 6 0) 04 { 3 � R c CD ) $ / n �2 � o \ / « _ «� « C5 z 0) $ U / < / / f 2 0 2 \ - z o > f w jf LU > § LU « ° / k > > w o < < < < < < c < o _ ® b Mn - 2 = 2 2 2 2 £ 2 q { ] f k w L LU a % \ \ jo * $ § $ R w 2 c « 2 a 0 ƒ 2 / -i q Z CO \ § « < < < < 0 < < o % 7 \ 2 g 2 0 = 2 2 2 2 2 0 Z Z o $ 2 a m % ° � f F— J \ / f ƒ � _ 2 < \ j 0 0 7 0 � � q 3 2 n < � I < < < < q \ k / LLI b D r / 2 \ 7 Z 2 2 Z ® N ) > / \ \ § / / 0 w > ] $ f « ƒ / .0 2 / 0 s = 5 m ® R = EIE2f \ E a a § \ = o 1- 3 0 = co 0./ E � / } \ a) f q % E (n , f _ o , o ® G (n U) E 2 cu/ D \ R / f \ / } o 2 > 2 \ @ 2 7 $ $ / t _ a 2 E E \ E \ 2 ± = E \ , / $ § / E 5 / / 0 2 \ f \ j \ k c t o / ? 2 2 $ E E ƒ § \ / \ � 7 o a 5 5 ) / 7 c R < w D a 2 \ J J J / m LO / 3E3 R C. STORM WATER MANAGEMENT FACILITIES Storm sewer facilities are sized based upon estimated storm flows, which vary with the size of the tributary drainage area, slope, soil type, antecedent runoff condition, and impervious ground cover. In its "TR-55, Urban Hydrology for Small Watershed (the "TR-55 Manual"), the United States Department of Agriculture specifies average "runoff curve numbers" for purposes of measuring storm flows or runoff. The runoff curve number for fully developed urban areas indicated in the TR-55 Manual vary by land use type, impervious area, and hydrologic soil group. Assuming generally uniform antecedent runoff and hydrologic soil conditions within SSA No. 2004-104, storm flows will tend to vary with land use and the associated impervious area. Impervious ground coverage factors for residential development vary by development density or the number of dwelling units per gross acre, with gross acreage being exclusive of open space. The anticipated gross density for the three residential land uses are as shown in Table 4 below. The TR-55 Manual estimates impervious ground area at approximately 30.00% for development densities of 3.0 units to an acre, 40.00% for development densities of 4.0 units to an acre, and 65.00% for development densities of 8.0 or greater units to an acre. The TR-55 Manual does not contain impervious ground areas for apartments, elementary schools, and clubhouses. For apartments, the impervious ground area for commercial is used as a proxy (85.00% impervious area per acre). The impervious ground coverage factor for the School Property is based on discussion with the school district's architect. The impervious ground coverage for the Clubhouse Property has been provided by the developer's engineer and is based upon the preliminary clubhouse plans. Table 5 on the following page shows the impervious ground area factors and their equivalency (i.e., the average impervious area for each land use type expressed in terms of the average impervious area for the typical single-family home) for SSA No. 2004-104. Special Tax Roll and Report Page 16 United City of Yorkville Special Service Area No. 2004-104 October 5,2004 § / C) < < ® 0 > ƒ 2 . ƒ \ e : a \ \ \ ' N $ Jam ® � ® 2 n # m > = \ z / \ z / Ci z a o 7 \ f f » I c m k z z z z z " 7 « \ \ e / g CD E « 0 » 2 # E / \ % ƒ / k k z / , / _ a ! q \ L ff q ° 6 z g \ \ < \ \ < \ ƒ < } \ \ f w > m a 2 a w w w � 2@ _ o LL n n o Cl) L \ / q ) Im F. S * \ \ w « w c) o E / 2 w g < < < < < c 7 « \ Q \ / ƒ Lo Lu o u 2 2 z z z w ¥ z $ q e f w 8 o w z « \ E q (D z tt \ ƒ ) CO m d « ® \ \ 5 / k Z LLJ w < w = 0 E » a ¥ k < z § \ / \ k k k z t \ / ] \ \ z LU qLLI ƒ 7 ] \ 2 \ > 0 ƒ ± } 2 f LL Ln � f \ k ; / / z z N \ / / f \ § » ® ® \ _ ° coo) - - / E ) � ( ept % / 8E 0 0 - & 2 & E2 / ( ® ) \ & \ O o _ E R $ m \ / / i 2 L § A ge % , 3 m f ] h 9 E $ U = \ ± 7 \ @ _ » ES § � s � » 2 = 2 $ G § E [ } 7 � \ 2 � k -6 / % c A � S \ $ map / § , c \ \ 0 EE 2 �\ \ \ / \ C: § X / E o ° ° G & ° % \ k CL � £ 0 ra)a) > 7 § E t = R J = c c - = G 7 2 e < q g = ] f ƒ u _ J / \ 3. ALLOCATED COSTS As mentioned previously, SSA No. 2004-104 is anticipated to fund community and neighborhood improvements for Central Grande Reserve. However, this section shows the allocation of all the community and neighborhood public improvements in an effort to provide a comprehensive public improvement cost allocation. a. COMMUNITY IMPROVEMENTS The community improvements are allocated to each land use type within the benefit area in accordance with the equivalent units shown in Tables 2, 3, 4, and 5. The cost per equivalent unit is computed first. Then, the cost per equivalent unit s multiplied by the equivalent unit factor for each land use to arrive at the cost per dwelling unit. These calculations are shown in Tables 6, 7, 8 and 9. Special Tax Roll and Report Page 18 United City of Yorkville Special Service Area No.2004-104 October 5,2004 TABLE 6 SSA No. 2004-104 CENTRAL GRANDE RESERVE COMMUNITY WATER IMPROVEMENTS -COST PER EQUIVALENT UNIT Total Total Cost Per Estimated Equivalent Equivalent [Communit Improvement Cost Units 1 Unit[21, 3 Water $578,402 2,415.000 $240 ------------------------------ -------------------- ------------------ Grand Total f3l $578,402 $240 [1] From Table 2. [2] Total estimated cost divided by applicaNe Iota!equivalent units. [3] Calculations may vary slightly due to rounding. TABLE 7 SSA No. 2004-104 CENTRAL GRANDE RESERVE COMMUNITY WATER IMPROVEMENTS -ALLOCATED COSTS BY LAND USE Community Water Improvements Cost Per Equivalent Equivalent Unit Allocated Land Use 1 Unit 2 Factor 3 Cost 4 5 (1) Single-family-Typical (per DU) $240 1.000 $240 (2) Single-family -Age Targeted (per DU) $240 1.000 $24G it (3) Duplex (per DU) $240 0.857 $205 (4) Townhome (per DU) $240 0.857 $205 (5) Apartment (per DU) $240 0.514 $123 (6) School (per school) $240 46.429 $11,120 (7) Clubhouse (per clubhouse) $240 6.429 $1,540 8 Commercial (per parcel) $240 12.857 1 $3,079 [1] Land uses represent the Dwelling Units and other property in North Grande Reserve,Central Grande Reserve and South Grande Reserve. [2] From Table 6. [3] From Table 2. [4] Cost per equivalent unit multiplied by equivalent unit factor. [5] Calculations may vary slightly due to rounding. TABLE 8 SSA No. 2004-104 CENTRAL GRANDE RESERVE COMMUNITY ROAD AND ASSOCIATED SEWER,WATER,AND STORM SEWER IMPROVEMENTS CENTRAL GRANDE RESERVE COST PER EQUIVALENT UNIT Total Total I Cost Per Estimated Equivalent Equivalent Im rovement Description Cost 1 Units 2 Unit r3l. r4i- Sewer and Water Road Associated $2,132,212 1,223.286 $1,743 Lift Station $361,500 1,223.286 $296 Road Improvements $1,998,689 1,170.762 $1,707 Storm Sewer Improvements Road Associated $1,111,399 1,109.155 $1,002 Storm Sewer Main $361,498 1,109.155 $326 Storm Water Detention (Earthwork) $3,925,070 1,109.155 $3,539 Storm Water Detention Basins $2,527,500 1,109.155 $2,279 -------------------- ------------------ Grand Total 4 $12,417,868 $10,891 [1] See Exhibit A. [2] From Tables 3,4, and 5, as applicable. [3] Total cost divided by applicable total equivalent units. [4] Calculations may vary slightly due to rounding. a d Ln rn LO (°o ° m v Q v r- z 04 y y I�Z v7 v z � ' Z E Q O 69 (fl Ffl (19 69 CLd U � c � L V N w O z Ln (D Z N (. Z 3 7 0 0 Cl) N ya W LL N � c ID N LO Ln (f) LO LO ,0 d Q v Q +' > E r r r C O a f 6 z 669 W z 69 6 z U W a m W v Q v o Q `- ° Q z a) LLI Q c (R (� �» c U W (n E a G7 I p Z `O- > _ 2 O Q Lo N Q LO o Q Q a - p Z eo (D z v; z O ", LL o o rn - W N m m p ~ 0 c Z > Q V y > o z o o z o o z W W W U a� » v3 o W Q < W Ua O Q O: -i .d. rn r r co p Q J N Z W J d mo Q Q (O .- m o o W a' d c N (.i Z Z M Z Z N W Q O (f? ifl iH (fl 6q a J p > U o CO) Q U d d M Z W E — «� " o t� °' 0) w W Q W y .? = r0 o Z ono 00 Z vv z U N p (�'tl m r O ci (O a ? W LL m Z C7 ev p J `m > (3) rn 0) 0) 0)Q a Z z z Cl) O a c_ }} W U F U U W o Z CL O CL c N O L C N O � U = c > C y D O n o 0 a rn a Q) N c Q _ a a fn�I a� >. U m O ` 0 t f- LT Q D O C) C N OL N N (6 N (4 N aC C6 j V Lri w (EO (E6 O' E N N N O N N c .0 0 L E S F H p. I@ F@ H O d U O O O N O O V (n (n Q (n U U J LL LL U LL LL U a J b. NEIGHBORHOOD IMPROVEMENTS The costs for each neighborhood are grouped with other neighborhoods comprised of the same land use. Each neighborhood within the Grande Reserve Subdivision contains a single land use. Then, these costs are simply allocated on a Dwelling Unit basis because the land uses are sufficiently uniform that the public facilities usage factors do not vary within land use type. An estimate of probable costs for each neighborhood has been prepared by the developer's engineer, a summary of which is attached hereto as Exhibit A. The aggregated neighborhood costs by land use type are shown for SSA No. 2004-104 in Table 10 on the following page. Special Tax Roll and Report Page 22 United City of Yorkville Special Service Area No.2004-104 October S,2004 M 0 < f 7 < k = \ 6 64 � . a U k En I § a g z 3 \ / % \ N a . A ® \ 0 0 k 7 Cl) k / / k e N & \ LO \ / < / / < % z 2 N z 2 a o \ k E =n \ C } E \ § \ m = 0 r 0 0 > � k ~ / < f \ < W ■ _ / $ 2 k § § \ e & % & $ 4 w a o = m w 0 a M -j 3 a 0 0 0 m \ ° E k 4 k \ f z Z S § § 2 0 & $ 3 > u & > e Q E k2 § E CL Cn § L w $ \ 4 2 $ 4 0) $ ) z z J 3d a 2 $ \ 0 0 0 \ ® f f \ ® k coo k 0 / \ w $ & & ƒ CL � 0 k 20 � \ D k { k ) \ \ \ k \ - { C . \ < y % ° \ _ CO < c / $ & 7 \ / M / \ ) \ o a R k k » / ƒ / 3 / < \ ] § & G m R 2 � < � � EER Aggregating the allocated costs in the preceding tables results in the total allocated costs by land use shown in Table 11 on the following page. Special Tax Roll and Report Page 24 United City of Yorkville Special Service Area No.2004-104 October S,2004 TABLE 11 SSA No. 2004-104 CENTRAL GRANDE RESERVE CENTRAL GRANDE RESERVE -TOTAL ALLOCATED COST BY LAND USE Land Use [11 Total Community Neighborhood (1) Single-family -Typical (per DU) $26,806 $11,131 $15,676 (2) Single-family -Age Targeted (per DU) NA NA NA (3) Duplex (per DU) $17,239 $7,664 $9,575 (4) Townhome (per DU) $16,078 $7,753 $8,325 (5) Apartment (per DU) NA NA NA (6) School (per school) $459,699 $459,699 $0 7 Clubhouse (per clubhouse $176,410 1 $176,410 $0 [1] Land uses represent the Dwelling Units and other property in Central Grande Reserve only. 4. SSA FUNDED COSTS The Eligible Improvements anticipated to be funded by SSA No. 2004- 104 including proceeds from the Second Series are shown in Table 12 on the following page. Note, with respect to SSA No. 2004-104, the developer will privately finance all of the improvements allocated to the School Property and the Clubhouse Property. Therefore, these properties are exempt from the Maximum Parcel Special Tax. Special Tax Roll and Report Page 26 United City of Yorkville Special Service Area No. 2004-104 October 5,2004 / w ) z z z z z � } . ■ E k z z z z o o u 0 - k ] k k k k k k ) \ w 5 co n n § 2 _a N Co. & w = e a ) § ) " a w Z a -C « J k f C)\ \ m " w § $ & &u q ) U m 2 z > W z CO o - k ° 0 \ \ \ & & a w m z e W m ) k Q Q Q k 2 S k 2 2 z z e z f I § LL LU co ) k k k k k � ƒ a ® _ w § w § } Lu Q 13 ° \ m § [ k k k k k 0 0 z z z z z § F- 0 / _ k 7 ƒ f \ k ƒ k t ƒ / ƒ / / ° CL E _ \ ƒ E ƒ S k § 0 0 ■ 2 \ ° % q $ 3 e / e R J R 3 6 r D. ALTERNATIVES,MODIFICATIONS,AND/OR SUBSTITUTIONS The description of the Eligible Improvements, as set forth herein, is general in nature. The final description, specifications, location, and costs of improvements and facilities will be determined upon the preparation of final plans and specifications and completion of the improvements. The final plans may show substitutes, in lieu or modifications to the Eligible Improvements in order to accomplish the works of improvements, and any substitution, increase, or decrease to the amount of public improvements financed shall not be a change or modification in the proceedings as long as (i) the allocation of the Eligible Improvement costs actually funded by SSA No. 2004-104, using the preceding methodology, is uniform for each land use and (ii) such allocation results in the same ratio of funded Eligible Improvements among the land use types, as shown in Section VII below. VI. BOND ASSUMPTIONS Total authorized bonded indebtedness is $35,000,000. It is anticipated that the Eligible Improvements will be financed through the issuance of two series of bonds. Bonds in the approximate amount of $13,200,000 and $16,700,000 are anticipated to be issued in November 2004 and January 2007, respectively. Issuance costs are estimated to be approximately five percent (5.0%) of the principal amount of the bonds. Each bond issue is estimated to include a reserve fund equal to approximately ten percent (10.0%) of the original principal amount of the bonds and approximately twenty-eight months of capitalized interest. The term of the bonds is expected to range from 28 to 30 years. Annual debt service payments will increase approximately 1.5% annually. The final sizing of the bonds may be modified as appropriate to meet the objectives of the financing and prevailing bond market conditions. These modifications may include, but are not limited to, changes in the following: • Bond timing, phasing, and/or escrows; • Capitalized interest period; • Principal amortization (i.e., bond term and annual debt service payment); • Reserve fund size and form; and • Coupon rates. The actual bonded indebtedness and consequently the amount of public improvements funded by SSA No. 2004-104 may increase or decrease depending on these variables. VII. MAXIMUM PARCEL SPECIAL TAX As mentioned previously, no Eligible Improvements for the School Property and the Clubhouse Property will be financed by SSA No. 2004-104. Therefore, these properties will not be subject to the Maximum Parcel Special Tax. The discussion that follows applies only to the remaining Residential Property. Special Tax Roll and Report Page 28 United City of Yorkville Special Service Area No. 2004-104 October S,2004 A. EQUIVALENT UNITS When multiple land uses are anticipated, the Maximum Parcel Special Tax is a function of the (i) relative amounts of the Eligible Improvement costs funded for such land uses and (ii) the associated Maximum Parcel Special Taxes required to pay debt service on the Bonds. In order to measure the relative difference in funded public improvement costs for each land use type, equivalent unit factors have been calculated for the Eligible Improvements to be funded by SSA No. 2004-104. Single-family Dwelling Units are deemed the typical residential unit and are assigned an equivalent unit factor of 1.00. The equivalent unit factors for other land use types are computed as the ratio of the funded Eligible Improvements for such land use type to the funded Eligible Improvements for a single-family Dwelling Unit. Equivalent unit calculations are shown in Table 13 on the following page. Special Tax Roll and Report Page 29 United City of Yorkville Special Service Area No. 2004-104 October 5,2004 TABLE 13 SSA No. 2004-104 CENTRAL GRANDE RESERVE CENTRAL GRANDE RESERVE -EQUIVALENT UNITS FOR FUNDED COSTS BY LAND USE Equivalent Total Funded Unit Dwelling Equivalent Land Use Costs Factor Units Units (1) Single-family Property (per DU) $18,641 1.000 723 1 723.000 (2) Duplex Property (per DU) $15,248 0.818 224 183.232 (3) Townhome Property (per DU) $12,880 0.691 298 205.907 (4) School Property (per school) $0 0.000 NA 0.000 (51 Clubhouse Property (per clubhouse) s0 0.000 NA 0-000 IGrand Total _ 1,245 1,112.139 B. MAXIMUM PARCEL SPECIAL TAX CALCULATION The Maximum Parcel Special Tax is derived from the required Maximum Parcel Special Taxes for SSA No. 2004-104, which are equal to the sum of the estimated (i) maximum annual interest and principal payments on the Bonds, net of projected earnings on the reserve fund, (ii) a contingency for delinquent Special Taxes, and (iii) estimated Administrative Expenses. The Maximum Parcel Special Tax is computed in two steps. First, the Maximum Parcel Special Tax per equivalent unit is calculated. Then, that amount is multiplied by the applicable equivalent unit factor for each land use type. Therefore, the Maximum Parcel Special Taxes are weighted in proportion to the allocation of funded Eligible Improvements as shown in Section V, and consequently the amount of the Maximum Parcel Special Tax bears a rational relationship to the benefit that the special services render to each Parcel within SSA No. 2004-104 as required puisua„t to the Act. These calculations are shcvv;: in Tabla-: 11” and i51 on the following page. Special Tax Roll and Report Page 31 United City of Yorkville Special Service Area No.2004-104 October 5,2004 TABLE 14 SSA No. 2004-104 CENTRAL GRANDE RESERVE MAXIMUM PARCEL SPECIAL TAX PER EQUIVALENT UNIT CALENDAR YEAR 2005 Maximum Required Parcel Maximum Special Tax Parcel Total Per Special Equivalent Equivalent Development Area Taxes Units Unit[1] Central Grande Reserve $2,334,285 1 1,112.139 1 $2,099 [1] Maximum Parcel Special Taxes divided by total equivalent units. TABLE 15 SSA No. 2004-106 CENTRAL GRANDE RESERVE MAXIMUM PARCEL SPECIAL TAX CALENDAR YEAR 2005 Central Grande Reserve Maximum Parcel Special Tax Maximum Per Equivalent Parcel Equivalent Unit Special Land Use Unit Factor Tax 1 (1) Single-family Property (per DU) $2,099 1.000 $2,099.00 (2) Duplex Property (per DU) $2,099 0.818 $1,717.00 (3) Townhome Property (per DU) $2,099 0.691 $1,450.00 (4) School Property (per school) NA NA NA 5 Clubhouse Property (per clubhouse NA NA I NA [1] Calculations may vary slightly due to rounding. C. ESCALATION The Maximum Parcel Special Tax that has been levied in each subsequent Calendar Year escalates one and one-half percent (1.50%) annually, rounded to the nearest dollar, with such escalation commencing in Calendar Year 2006.Note, that while the annual increase in the Maximum Parcel Special Tax is limited to one and one-half percent (1.50%) which is consistent with the anticipated graduated payment schedule for interest and principal on the Bonds, the percentage annual change in the Special Tax extended may be greater depending upon actual Special Tax receipts, capitalized interest, investment earnings, and Administrative Expenses. D. APPLICATION Prior to the recordation of a Final Plat, the Maximum Parcel Special '1 ax for a Parcel of Residential Property shall be calculated by multiplying the number of expected single-family, duplex, or townhome Dwelling Units for such Parcel by the applicable Maximum Parcel Special Tax. For each Calendar Year for which the Maximum Parcel Special Tax has been levied, the expected number of single- family, duplex, or townhome Dwelling Units shall be based on the most recent Concept Plan or Preliminary Plat in effect as of September 30 of that year. Subsequent to the recordation of the Final Plat but prior to the initial sale of each Dwelling Unit, the Maximum Parcel Special Tax for a lot of Residential Property shall be calculated by multiplying the Maximum Parcel Special Tax per Dwelling Unit by the applicable Maximum Parcel Special Tax determined pursuant to Table 15, as increased in accordance with Section VI.0 above by the number of anticipated Dwelling Units to be constructed on such lot. (e.g., for a single-family lot, one Dwelling Unit is anticipated.) E. TERM The Maximum Parcel Special Tax shall not be levied after Calendar Year 2032 (to be collected in Calendar Year 2033). F. SPECIAL TAX ROLL AMENDMENT Each Calendar Year, in conjunction with the abatement ordinance adopted by the City, the City shall amend the Special Tax Roll to reflect the Maximum Parcel Special Tax applicable to any new Parcels established by the County. The amended Special Tax Roll shall be recorded with the County. G. OPTIONAL PREPAYMENT The Maximum Parcel Special Tax for any Parcel may be prepaid and the obligation of the Parcel to pay the Maximum Parcel Special Tax permanently satisfied pursuant to Section A of Exhibit C attached hereto, provided that a prepayment may be made only if there are no delinquent Special Taxes with Special Tax Roll and Report Page 33 United City of Yorkville Special Service Area No.2004-104 October S,2004 respect to such Parcel at the time of prepayment. The Maximum Parcel Special Tax may also be prepaid in part, provided that proceeds for any such prepayment are sufficient to permit the redemption of Bonds in such amounts and maturities deemed necessary by the Administrator and in accordance with the Bond Indenture. An owner of a Parcel intending to prepay the Maximum Parcel Special Tax, either partially or in full, shall provide the City with written notice of intent to prepay. Within 30 days of receipt of such written notice, the City or its designee shall notify such owner of the amount of the Special Tax Bond Prepayment or the Partial Special Tax Bond Prepayment, as applicable, for such Parcel and the date through which the such amount shall be valid. H. MANDATORY PREPAYMENT If at any time the Administrator determines that there has been or will be a reduction in the Maximum Parcel Special Taxes as a result of an amendment to the Concept Plan, Preliminary Plat, Final Plat, or other event which reduces the anticipated number of Dwelling Units as shown in Section B of Exhibit C, attached hereto, then a Mandatory Special Tax Prepayment shall be calculated. As required under the Bond Indenture, the City may adopt a supplemental ordinance to provide for the levy of the Mandatory Special Tax Prepayment. VIII. ABATEMENT METHODOLOGY AND COLLECTION A. ABATEMENT METHODOLOGY On or before the last Tuesday of December of each Calendar Year, commencing with Calendar Year 2005 and for each following Calendar Year, the City or its designee shall calculate the Special Tax Requirement. 1. Prior to the Issuance of the Second Series Prior to the issuance of the Second Series, the Special Tax Requirement will be funded only by the Maximum Parcel Special Taxes applicable to the First Series Property. The Special Tax authorized by the ordinance providing for the issuance of the Bonds shall be abated each year to the extent the amounts so authorized exceed the Special Tax Requirement. The Maximum Parcel Special Tax applicable to each Parcel of First Series Property shall be abated in equal percentages until the Special Taxes remaining equal the Special Tax Requirement. The Maximum Parcel Special Tax applicable to Second Series Property shall be abated in full. 2. Subsequent to the Issuance of the Second Series Subsequent to the issuance of the Second Series, the Special Tax Requirement will be funded by the Maximum Parcel Special Taxes applicable to both the First Series Property and the Second Series Special Tax Roll and Report Page 34 United City of Yorkville Special Service Area No.2004-104 October S,2004 Property. The Maximum Parcel Special Tax authorized by the ordinance providing for the issuance of the First Series and Second Series shall be abated each year to the extent the amounts so authorized exceed the Special Tax Requirement. The Maximum Parcel Special Tax applicable to each Parcel shall be abated in equal percentages until the Special Taxes remaining equal the Special Tax Requirement.Notwithstanding the above, if the Administrator determines there are sufficient moneys available pursuant to the Bond Indenture (i.e. capitalized interest) to pay the debt service on the Second Series for the bond year next following the calculation of the Special Tax Requirement, the Maximum Parcel Special Tax applicable to the Second Series Property shall be abated in full and the Maximum Parcel Special Tax for the First Series Property shall be abated pursuant to Section VIII.A.1 above. B. COLLECTION PROCESS The Special Tax shall be billed and collected by the County in the same manner and at the same time as general ad valorem property taxes. The lien and foreclosure remedies provided for in Article 9 of the Illinois Municipal Code shall apply upon the nonpayment of the Maximum Parcel Special Tax levied against any Parcel. The Council may provide for other means of collecting the Special Tax, if necessary to meet the financial obligations of SSA No. 2004-104. The Mandatory Special Tax Prepayment shall be due prior to any development approval, subdivision of land, conveyance, or other action that results in a reduction in the Maximum Parcel Special Taxes. The Mandatory Special Tax Prepayment shall be levied against the property on which the reduction has or will occur. The Mandatory Special Tax Prepayment shall have the same sale and lien priorities as are provided for regular property taxes. A Mandatory Special Tax Prepayment shall not reduce the Maximum Parcel Special Tax for any Parcel. C. ADMINISTRATIVE REVIEW Any owner of a Parcel claiming that a calculation error has been made in the amount of the Special Tax applicable to such Parcel for any Calendar Year may send a written notice describing the error to the Administrator not later than thirty (30) days after having paid the Special Tax which is alleged to be in error. The Administrator shall promptly review the notice, and if necessary, meet with the property owner, consider written and oral evidence regarding the alleged error, and decide whether, in fact, such an error occurred. If the Administrator determines that an error did in fact occur and the Special Tax should be modified or changed in favor of the property owner, an adjustment shall be made in the amount of the Special Tax applicable to such Parcel in the next Calendar Year. Cash refunds shall only be made in the final Calendar Year for the Special Tax. The decision of the Administrator regarding any error in respect to the Special Tax shall be final. Special Tax Roll and Report Page 35 United City of Yorkville Special Service Area No.2004-104 October S,2004 IX. AMENDMENTS This Report may be amended by ordinance of the City and, to the maximum extent permitted by the Act, such amendments may be made without further notice under the Act and without notice to owners of property within SSA No. 2004-104 in order to (i) clarify or correct minor inconsistencies in the matters set forth herein, (ii) provide for lawful procedures for the collection and enforcement of the Special Tax so as to assure the efficient collection of the Special Tax for the benefit of the owners of the Bonds, (iii) otherwise improve the ability of the City to fulfill its obligations to levy, extend, and collect the Special Tax and to make it available for the payment of the Bonds and Administrative Expenses, and (iv) make any change deemed necessary or advisable by the City, provided such change is not detrimental to the owners of property subject to the Maximum Parcel Special Tax.No such amendment shall be approved by the Council if it violates any other agreement binding upon the City and unless and until it has (i) found and determined that the arjroadi'acnt is necessary and appropriate and does riot ialiy adversely affect the rights of the owners of the Bonds or the City has obtained the consent of one hundred percent (100.00%) of the owners of the Bonds and (ii) received an opinion of a nationally recognized bond counsel to the effect that the amendment does not violate the Act, and is authorized pursuant to the terms of the Bond Indenture and this Report. f(AClients2\Yorkville\Grande Reserve\SSA Report\Central SSA\Central Fixed SSA Report 5.doc Special Tax Roll and Report Page 36 United City of Yorkville Special Service Area No.2004-104 October S,2004 EXHIBIT A COST ESTIMATE SUMMARY FOR THE CENTRAL GRANDE RESERVE PROJECT EXHIBIT A SSA No.2004-104 CENTRAL GRANDE RESERVE BREAKDOWN OF COST ESTIMATE FOR CENTRAL GRANDE RESERVE NBH6-7 NBHB NBH9-16 SCHOOL CLUBHOUSE IMPROVEMENTS TOTAL THM DUP SFH PROPERTY. PROPERTY MASTER PLANNED IMPROVEMENTS ROADS BRISTOL $355,757 $55,448 $58,322 $219,696 $19,432 $2,858 KENNEDY $1,140,262 $177,721 $186,933 $704,165 $62,284 $9,159 MILL $614,902 $95,838 $100,806 $379,731 $33,587 $4,939 GALENA $304,353 $47,436 $49,695 $187,952 $16,825 $2,445 STATE ROUTE 34 $381,056 $59,391 $62,470 $235,320 $20,814 $3,061 SUBTOTAL MASTER PLANNED ROAD $2,796,330 $435,835 $458,427 $1,726,864 $152,742 $22,462 WATER WATER TOWER $896,570 $187,209 $140,720 $529,901 $34,028 $4,712 TWO WELLS $686,357 $143,315 $107,727 $405,658 $26,050 $3,607 WELL HOUSE&TREATMENT $1,650,803 $344,696 $259,101 $975,676 $62,655 $8,675 GALENA ROAD WATERMAIN $328,716 $68,220 $51,280 $193,099 $12,400 $1,717 STATE ROUTE 34 WATERMAIN $253,268 $52,884 $39,752 $149,889 $9,813 $1,331 WATERMAIN BETWEEN WELLS $227,941 $47,595 $35,776 $134,720 $8,851 $1,198 ENGINEERING AND SURVEY TESTING $455,883 $95,191 $71,553 $269,441 $17,303 $2,396 LESS ESTIMATED RECAPTURE ($46,387 $0 $0 $0 ($40.74M ($5,642 SUBTOTAL MASTER PLANNED WATER $4,451,150 $939,110 $705,908 $2,658,185 $129,954 $17,994 COMMUNITY IMPROVEMENTS SANITARY SEWER ROAD ASSOCIATED $1,734,908 $362,258 $272,301 $1,025,384 $65,847 $9,117 LIFT STATION $361,500 $75,483 $56,739 $213,658 $13,720 $1,900 SUBTOTAL COMMUNITY SEWER J� $2,096,408 $437,741 $329,040 $1,239,042 $79,567 $11,017 WATER ROAD ASSOCIATED $397,304 $82,959 $62,359 $234,819 $15,079 $2,088 GALENA WATER MAIN $146,491 $30,588 $22,992 $86,581 $5,560 $770 STATE ROUTE 34 WATER MAIN $146,491 $30,588 $22,992 $86,581 $5,560 $770 SUBTOTAL COMMUNITY WATER _ $690,286 $144,135 $108,343 $407,981 $26,199 $3,628 STORM SEWER ROAD ASSOCIATED $1,111,399 $198,736 $133,451 $724,497 $34,282 $20,423 STORM SEWER MAIN $361,498 $64,642 $43,410 $235,653 $11,151 $6,643 STORM WATER DETENTION(EARTHWORK) $3,925,070 $701,865 $471,336 $2,558,670 $121,072 $72,127 STORM WATER MANAGEMENT $2,527,500 $451,957 $303,511 $1,647,624 $77,963 $46,446 SUBTOTAL COMMUNITY STORM SEWER $7,925,468 $1,417,199 $951,717 $5,166,444 $244,468 $145,639 ROADS COLLECTOR ROADS $1,400,003 $218,204 $229,515 $864,567 $76,472 $11,246 EARTHWORK $142,772 $22,252 $23406, $88,168 $7,799 $1,147 RIGHT OF WAY $455,914 $71,059 $74,742 $281,548 $24,903 $3,662 SUBTOTAL COMMUNITY ROADS $1,998,689 $311,515 $327,662 $1,234,284 $109,173 $16,055 PARKS $1,391,481 $303,670 $228,262 $859,549 $0 $0 SUBTOTAL COMMUNITY PARKS $1,391,481 $303,670 $228,262 $859,549 $0 $0 NEIGHBORHOOD IMPROVEMENTS SANITARY SEWER $3,701,300 $655,600 $515,200 $2,530,500 $0 $0 WATER $3,701,300 $655,600 $515,200 $2,530,500 $0 $0 STORM SEWER $3,306,100 $417,200 $358,400 $2,530,500 $0 $0 ROADS $5,250,503 $752,450 $756,000 $3,742,053 $0 $0 SUBTOTAL NEIGHBORHOOD IMPROVEMENTS $15,959,203 $2,480,850 $2,144,800 $11,333,553 $0 $0 SOFT COSTS CONSTRUCTION MANAGEMENT $737,341 $125,779 $103,741 $488,946 $15,023 $3,852 PRELIMINARY ENGINEERING $60,860 $10,382 $8,563 $40,358 $1,240 $318 FINAL ENGINEERING $529,382 $89,303 $100,382 $334,856 $4,110 $731 VILLAGE ENGINEER REVIEW FEES $327,717 $55,903 $46,109 $217,316 $6,677 $1,712 OTHER PERMIT FEES $141,163 $24,080 $19,861 $93,608 $2,876 $738 TORNADO SIREN $38,785 $8,464 $6,362 $23,959 $0 $0 SUBTOTAL SOFT COSTS T $1,835,249 $313,911 $285,018 $1,199,042 $29,926 $7,351 GRAND TOTAL COSTS $39,144,264 $6,783,967 $5,539,178 $25,824,944 $772,030 $224,145 NUMBER OF UNITS 1 1,2451 2981 2241 723 NA NA EXHIBIT B SPECIAL TAX ROLL O N et 0 'at N O `t w N N N 00 •t O N •7 N O O N_ 0 0 0 N M O N O M 0 O W r- 0 O v M M M v O 0 r 00 0 N M M M CD 0 0 (� N (D O 'd_ ci (R N O r 't Cli N M v V 0 Cn N CO G to O � Ih N 0 0 0 S LO (0 M M CD O M h V M N M O V N N CD Lo m � M M M M 00 M co N N M M d' It 't 0 0 M (0 t0 r C` r W M M M M O O N N CO M N N N N N N N N N N N N N N N N N N N N M M M M M co M co 69 v> 69 64 69 v> 64 69 v> v> v> v> 6H v> v> v> 69 69 64 69 69 v> v> v> v> 69 69 69 O O 00 O o 0 0 0 0 0 0 0 0 0 o O O O o 0 0 0 0 0 0 0 0 0 0 0 0 O Q 69 69 v> 69 69 69 69 69 69 64 69 v> v> v> 69 v> 69 W. 69 64 v> 69 v> v> w 64 v> v> 'N O � N 0 0 v LOj n co W r 00 m N ONi m O v m � co 1- M m 000 W W OOi 0 r- N 0 Q S Dp M M Lo r 0 cc M O M Ih N o M M M N 0 O N 0 to O (o N � 'd: V M W U- m M (0 v N 0 � O st N O M m C0 m � •ct m M N N N N N M 0 v W') 0 Cn N st Co CC') Lo Cf) Lo LO CC7 u'1 0 LO LO (o co 0 0 0 0 (00 (00 Cr0 0 0 r- !� r- t- ti v> 69 v> 69 69 69 69 69 64 69 69 v> v> 69 64 69 v> v> 69 69 6% v> 69 w 60 6A v> 6A W W p > Z J � W N o o O o 0 0 0 0 0 o O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 j J JQ m O 6s (» w (» 6» (» (fl 64 (» w (» e» 64 w w w (n r» (» (a va (a w 6a va 6n v> 64 o yo = ZO O 0 X C9 N � N M v 0 w O N 0 O v W N N v o N v N O et W W o v O N v N OC S v M M M O N 0 CD M r- 00 M N Lo r N M 0- v M M M h v N Z Q: 0 M M CD M r CA t() M O M C() (7 r M W (0 0 (M N r 0 0 CA M a n n CQ — i N v (n LO 0 h m W M O N M v v U') (O I- W M O N M v (p CO a/ J Q' r- v v v v v It v v (n u� n (n 0 (n (n (n (n 0 (n (n 0 m co 0 0 0 0 to C T v> Ca 69 69 6% 69 69 69 v> 69 69 W 69 v> 69 69 v> 64 v> 69 69 69 69 64 69 69 69 69 C� Q'JV`H CN Q � � pWo Eo N N U- O o 0 0 0 O 0 0 0 0 0 0 0 O o 0 o O O O O 0 0 O 0 0 Cl 0 0 1Z a U 69 W 6f> v> v> 60, v> 64 69 64 69 64 64 69 69 v> 6» VY 6A 6A 69 69 69 69 v> 69 v> 64 2 Q U W Q 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Q 69 69 69 6s v> 64 v> W v> v> v> v> 69, 69 69 69 69 v> 6H 63 v> 69 69 69 64 v> v> 69 W J O Q O V C) d 0 0 o O O o 0 0 0 o 0 o O o O O o 0 0 0 0 o O O o 0 o O M Q 6A 69 69 v> 69 69 v> 69 01 6fl d3 v> 69 v> v> v> 69 69 v> 6» 6A 69 v> 6A 6H 69 60 6A T T N O = o 0 0 0 o O o 0 0 0 0 0 0 o O o 0 o O o O O O o 0 0 0 0 U) 69 69 69 69 64 64 v> 61) v> v> 69 v> W 64 69 64 69 69 6A 6A 69 69 69 69 64 69 69 64 O o 0 0 0 o O o O 0 O O O O 0 O 0 0 0 0 0 0 O 0 O 0 0 0 O o 0 0 0 0 0 0 0 0 0 0 0 0 o O O O 0 0 0 0 q 0 q o O O 'C O N 'd' CD M N 0 M M n N h ('M m O N M h to M N r r N M (o r` G u S to n M M o M O M M N O M 0 N M CD M N 0 oD r Cl M 0 p v v_ v_ to I to to (o (n cc (D r- N r- r- oo ro ao cc C rn rn o 0 o r r r d Qom ~ is> i» v> v> v> v> v> v> v> u> e> u> v> u> v4i» v> v> u4 � » » � � 6NS6q � 6NS x UO o 0 0 0 O O 0 0 0 0 o O 0 0 0 0 o O O O 0 0 0 0 0 0 0 0 O S O O O O O O O O O O O O O O O O O O O O O O O O O O O O y r M M m M O w 0 LO I�t M M M •t m r m N Lo M M m M m (o N M n v 0 M N LO h O M 0 M N Co 00 r et h V' n 0 M N o d 3 Q h i` CA W e M Ci Cl 0 O O O r r r N N N M M M v V r N N N N N N N N N N N N N N N N N E C)CD 69 69 v> va 69 6A 69 v> 69 69 v> v> 69 69 EH 69 v> 69 v> 6A 69 69 69 69 66- 69 v? 64 �. 0 0. d 0. X X O o 0 0 0 O O O 0 0 O O O o 0 O 0 0 0 O 0 O O O o o O O 0 a) _ N 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4. E �. 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X N V' N m V' O V' m O N V' V• V' N O N N CO O N V' V' V' N O N N m'1 � Q- N r � CD r N O to O V' m M h CO m M h O a h V' Ih 0 0 to m a CD U. N Q �. T7 p co m r N CO m M m M r N N rn V' CO r` r V: m t[) N m m m m C Q Z 1-'Q c CV 0 m Lo o Lo o 0 M o) v o m N o_o ui y r r.- v v co to M o m M M M Lo M N M M M M M M V' 't V' V' V' v v 't v V' V v V' v V' CC) CLo Z Q = r 6) 69 6) 63 63 (03 63 6) 613 w 63 6) 6) v3 63 6) 61 63 6) 63 CH w 69 6) 69 64 69 63 VQ .JVF cN Cl) W c9 0 0 o u3 to 0 0 0 N O O O Cn 0 0 0 0 0 CC) O O O Cn O O CC) O O m m N N v CC7 0 W CO) a p E = m � r- m v o m m o M m m co r v o r- r- O -F M M N m W) r n F- N„N N LL to v � 0 r` 0 r N v r - r v r r v_ oc r - 0 `r - o o M v m ao rri M M V rn m n m o N M Lo 0 r- m o M y m � w O O 0 0 0 0 0 Z W d U) r n r� rr r r� N oo co m N m N N m rn m m m m m Q: 69 69 691 6) 69. 69 Cn 69 69 69 v) 63 6) 63 601 w 6) u) 63, 63 69 V4 d9 G9 63 &% v3 FT V. W >. 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M 69 M CH 61 69 69 69 EA 69 63 63 EF3 63 63 6) 63 CA 6) 63 6) 69 63 69 63 63 69 63 ~ N N_ t.. C I M N r m m N N N O N CO N N N CO Q N a O O O O O _ O O O O O� O O O O O O O O O O C N N N N N N N N N N N N N N N N N N N N N N U) w U ,� 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 to W M (D V O M (D O O (D N M 'V O 0 N O V V a) M O N z N r m M m LL) m r N r LO r m Ln N M V 0 r co O LO O m to m O N O Ln M O cc to Ln Ln V l C7 u) r m M r V r M O oc r L[) (O r 1� r p v of v o r' r2 m w n r w 0 of r o Lo o m m m w n Ln m m w M CD o v h Lr6) cO N m O V W M r (D O (n m v W m r M`W M 00 M M V V V (� (� LP) O O r r r Lb cl m m O C C r r r N M (7 <t '0. N N N N N N N N N N N N N N N N N M M M M M M M 69 M (h M 69 69 [fl 69 69 69 69 fR 69 EA 69 64 EA E9 69 69 69 69 V) 69 619 69 64 fA E9 E9 ffl 69 O O O O O O O O O O O O O O O O O O O O O O O O O O O O 69 69 w 69 tH 6% 6% 69 69 H) 69 H9 w w 64 64 64 w m 69 69 69 64 69 69 69 64 69 N, O M O N" `! 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O O r N N N N N N N N N N N N N N N N N N N N N N N N N M M M 69 69 Vf 69 69 64 64 69 69 69 6R 64 69 6R 64 64 69 W 64 69 69 6% 64 W 69 64 69 69 0 N y Co G f6l Ln O r Lb m O r N M V Ln O r W m 0 N M V Ln m r Lb m 0 N N F- O O O O O N N N N N N N N N N M M M N N O O O O O O O O O O O O O O O O O O O O O O O O O O O O LL C J M N N N N N N N N N N N N N N N N N N N N N N N N N N N N Q) c9 U .= EXHIBIT C PREPAYMENT OF MAXIMUM PARCEL SPECIAL TAX UNITED CITY OF YORKVILLE SPECIAL SERVICE AREA NO. 2004-104 PREPAYMENT FORMULA All capitalized terms not defined in this Exhibit C shall have the meaning given to such terms in the Report. A. OPTIONAL PREPAYMENT OF THE MAXIMUM PARCEL SPECIAL TAX Pursuant to Section VII.G of the Report, the Maximum Parcel Special Tax may be prepaid and permanently satisfied under the conditions set forth therein. The Special Tax Bond Prepayment is calculated as follows. 1. Special Tax Bond Prepayment Prior to the Issuance of any Bonds The Special Tax Bond Prepayment for Residential Property prior to the issuance of any Bonds shall equal the amounts shown in Table A-1 below, subject to changes as described in Section V.D of the Report. If at the time of the prepayment, the Parcel intending to prepay is not located within a Final Plat, the prepayment amount shall be calculated by multiplying the number of expected single-family, duplex, or townhome Dwelling Units for such Parcel as shown on the applicable approved Concept Plan, Preliminary Plat, or Final Plat whichever is the most recent by the corresponding prepayment amount per Dwelling Unit for the corresponding land use. TABLE A-1 SSA No.2004-104 CENTRAL GRANDE RESERVE Special Tax Bond Prepayment per Land Use Dwelling Unit Single-family Property $18,641 /DU Du lx Pr $15,248/DU T o e ownhome Property $12,880/DU 2. First Series Property Prior to the Issuance of the Second Series Prior to the issuance of the Second Series, the Special Tax Bond Prepayment for a Parcel of First Series Property means an amount equal to (a) the sum of (1) Principal, (2) Premium, (3) Defeasance, (4) Fees and (b) minus the Reserve Fund Credit where the terms "Principal," "Premium," "Defeasance," "Fees," and "Reserve Fund Credit" have the following meanings: "Principal" means the principal amount of Bonds to be redeemed and C-1 equals the quotient derived by dividing (a) the then current Calendar Year Maximum Parcel Special Tax for the Parcel intending to prepay by (b) the corresponding Calendar Year Maximum Parcel Special Taxes for First Series Property, (and excluding from (b) that portion of the Maximum Parcel Special Tax for any Parcel(s) of First Series Property that has been prepaid), and multiplying the quotient by the principal amount of outstanding Bonds. "Premium" means an amount equal to the Principal multiplied by the applicable redemption premium, if any, for any Bonds so redeemed with the proceeds of any such prepayment. Any applicable redemption premium shall be as set forth in the Bond Indenture. "Defeasance" means the amount needed to pay interest on the Principal to be redeemeu uiAui the earliest redeilnption date for the outstanding Bonds less any Special Tax heretofore paid and which has not been or will not be used for the Special Tax Requirement. "Fees" equal the expenses of SSA No. 2004-104 associated with the Special Tax Bond Prepayment as calculated by the City or its designee and include, but are not limited to, the costs of computing the Special Tax Bond Prepayment, the costs of redeeming the Bonds, and the costs of recording and publishing any notices to evidence the Special Tax Bond Prepayment and the redemption of Bonds. "Reserve Fund Credit" shall equal the balance in the Reserve Fund (as defined in the Bond Indenture) multiplied by the quotient used to calculate Principal. Reserve Fund earnings to be applied toward the Special Tax Requirement shall not be considered when computing the Reserve Fund Credit. 3. Second Series Property Prior to the Issuance of the Second Series Prior to the issuance of the Second Series, the Special Tax Bond Prepayment amount for a Parcel of Second Series Property shall be calculated pursuant to the preceding Section A.1. 4. After the Issuance of the Second Series After the issuance of the Second Series, the Special Tax Bond Prepayment amount for a Parcel of First Series Property or Second Series Property shall be calculated pursuant to the preceding Section A.2 substituting the Maximum Parcel Special Taxes for SSA No. 2004-104 for the Maximum Parcel Special Taxes for First Series Property when computing Principal. The amount of any Partial Special Tax Bond Prepayment shall be computed pursuant to the appropriate preceding prepayment section substituting the portion of the Maximum Parcel Special Tax to be prepaid for the Maximum Parcel Special Tax when computing C-2 i Principal, as applicable. The amount of any Special Tax Bond Prepayment or Partial Special Tax Bond Prepayment computed pursuant to this Section A shall not exceed the Bonds plus any Premium, Defeasance, and Fees as such terms are defined herein. B. MANDATORY PREPAYMENT 1. Mandatory Special Tax Prepayment Calculation Prior to the Issuance of the Second Series Pursuant to Section VII.H of the Report, the Maximum Parcel Special Tax must be prepaid if at any time prior to the issuance of the Second Series the Administrator determines there is or will be a reduction in the number of anticipated Dwelling Units as shown in Table B-1 below for First Series Property. TABLE B-1 SSA No.2004-104 CENTRAL GRANDE RESERVE PROJECTED.DWELLING UNITS FIRST SERIES PROPERTY . Land Use Dwelling Single-family Pro e 490 Duplex Property 0 Townhome Pro peg 0 The Mandatory Special Tax Prepayment amount for First Series Property will be calculated using the prepayment formula described in Section A.2 above with the following modifications: The amount by which the Maximum Parcel Special Taxes have been reduced shall serve as the numerator when computing Principal; and No Reserve Fund Credit shall be given. The Mandatory Special Tax Prepayment does not apply to Second Series Property prior to the issuance of the Second Series. 2. Mandatory Special Tax Prepayment Calculation Subsequent to the Issuance of the Second Series Subsequent to the issuance of the Second Series, if at any time the Administrator determines there is or will be a reduction in the number of anticipated Dwelling Units as shown in Table B-2 on the following page for Residential Property, as may be amended per Section B.3 below, then a Mandatory Special Tax Prepayment shall be calculated. C-3 TABLE B-2 SSA No.-2004-104 CENTRAL GRANDE RESERVE PROJECTED DWELLING UNITS SSA No.2004-104. FIRST SERIES PROPERTY AND SECOND SERIES PROPERTY Land Use 'Dwelling Units' Single-family Property 723 Duplex Property 224 Townhome Property 298 The Mandatory Special Tax Prepayment amount will be calculated using the prepayment formula described in Section A.4 above with the following modifications: The amount by which the Maximum Parcel Special Taxes have been reduced shall serve as the numerator when computing Principal; and No Reserve Fund Credit shall be given. 3. Changes to Projected Number of Dwelling Units Prior to the Issuance of the Second Series The projected number of Dwelling Units for SSA No. 2004-104 as shown in Table B-2 above may be modified provided any such changes to the projected number of Dwelling Units is submitted to and approved by the Administrator prior to the issuance of the Second Series. Notwithstanding the above, the amount of any Mandatory Special Tax Prepayment shall not exceed the Bonds plus any Premium, Defeasance, and Fees as such terms are defined in Section A above. The Mandatory Special Tax Prepayment shall be levied and collected pursuant to Section VII.H and Section VIII.B of the Report. The sum of the amounts calculated in Section A and Section B above shall be paid to the City, deposited with the trustee, and used to redeem Bonds and/or pay for public improvements in accordance with the Bond Indenture and to pay the Fees associated with the Special Tax Bond Prepayment. Upon the payment of the Special Tax Bond Prepayment amount to the City, the obligation to pay the portion of the Maximum Parcel Special Tax which is prepaid for such Parcel shall be deemed to be permanently satisfied, such portion of the Maximum Parcel Special Tax shall not be collected thereafter from such Parcel, and in the event the entire Maximum Parcel Special Tax is prepaid the Administrator shall cause a satisfaction of special tax lien for such Parcel to be recorded within 30 working days of receipt of the Special Tax Bond Prepayment. A Mandatory Special Tax Prepayment shall not reduce the Maximum Parcel Special Tax for any Parcel. C-4 EXHIBIT D CONCEPT PLAN Site Data Tm.]su. m97.[1 P.rlma«R.a6 A.O.r. 97.91 9.eD I F' ' r.•tnr.tra.a. e3.w e.De �.,mmr°r � I I Commatd.l A.K OA9 1'. 0.I S...•0.0.D.L.P. a eWfan)06¢.AB ]].OB •' i "' orvv 91t.D.nalty 2.m D.V./Aa. (2616 D.U./1m7.21 A..) 1 A t 4..q R.¢16..U.3 tu.w... vWmvm a.r.2. w.tmnm Typiw R.iehu.�n..a "M lal-91x[ L -' D-ULr=I.L.3 OJt. 1 "I.?I11,y VID« NA NA WA NA [[0 NA 3 TnP-F. T .ml1y IO.A e .vbam« NA NA NA [A6 4 YWY-F.m1ly NA NA NA NA 9m p Ta.vbom.. NA NA NA 1. \♦ ! 0 T.rvb.m.. NA n KA KA NA Im .\1/• y•� ' �!t T Lo.nbomw ItA NA NA NA m Two-ramDy 10,0m NA NA N4 RYA D 9iat.r.mlly 10.0m IIAm 70 n 76 K 196 to 61x1.r.w1r ID,om uAm Ton T6 K u 61x3.F.mey 1, I,Am Ton M K n ! FRIGHBORHOOD 2 le 3Dµ1.F.m[y IL- item 705 n m K W woos 91x1.r.mDy Ynw 13 9Dy1.r.mty ll.Dm ii.em 75 n m Ft. m w6GN _ u star.n.nty 1[.am 13.3DO ao K ea n Its �. 15 star.ramuy .". ie:wo eo n ea n -- 1e etn[l.a new I.= 1[.6m Ya K eo K [p I .�. 17 Sl.[I.r.mlly 1[Am Ie,0m m K e6 FL. t6[ _ 10 em6M r.mily 12.000 39,6m m K 66 K 66 i t- L I[ 91n1N r.mny I[.Om WAm m R. 36 n m S ....... • D Toa BLAKC,KTY SUBDIVSION OF.n Spm. -.1-1 T•W I 71LLAGE Or A°.•• � OSNEOO hd,&..b a � Ar•.Ao.e.tr..A.... .. YunIC1P•!elt. 042 Y.m 462 2.02 --- - - cemmmtty D1uDbmva/Ra. Area --- 610 6.10 640 --- R}IPQ I SHEPNER0 beet 91Is/P.rk 91tea B¢0 1mA1 It 48t 6186 66A9 OALENA ^(' iWMERAY CNURot NOA 13ufl.t. Y7.09 60 m 307.66 I W.66 --- I 91n.mw•t«u.n.[.m..t x90.11 n6 sn 120.A7 I" _-_ WAr1�FL.� T- 7141 261.07 96¢A6 as'. mAA SUB. � net« _--•L..__� 1,AU P.rl-mt.•d).6..t I.•a.tme C.mty ru>m,m.n.*U .- t...- "' ba wr�emwm.ra tt a.e.e.P•bnfnr.«.m.nt to.amum t.w• p�i}ygA9� Itt.urINA f 1 t P v' io y pummary r' REG'4! Lv GOUPANY.'Wri 1 --eT•. YWU-ramK, uo N.-F-Hr .0 { ✓ ,t :"w.r.muy vlu.. s2D `zt CDtAtIGI'� in[te r.,dty ToW a�i6 •" RN `Ks*w{ I I. pp i •� ,;BLACKBERRY OAKS _11 i 1•nl1lwttA ft#n-o SUBDIVISION I!. ....J , I I _� L1j1YADD weaHSroN � �Jl .ACTT, :fir 6 i ova i'POk> bi pal 1 • M+b _ J Group Exhibit "C" MFl - Yorkville Concept Plan �IENLAND DESIGN,INrit W-21-09 1'.100' 595 PI.I.$Nd Road SWt.E ..•os 21-m ymo�„b,L$0527 GRANDE RESERVE PLANNING•LANDSCAPE ARCHITECTURE 5t I7 KOIitIl A S1 j9M ax.S6,E m656.170// 10 (670)315-ISOO Yorkville,Allnols to TTLAM t�7ji7M .ptmaa.ena6nd