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HomeMy WebLinkAbout7/30/2003 - STAFF REPORTS DATE: July 30, 2003 TO: City Council FROM: Public Works Director/City Engineer ASSESSMENT DISTRICT 161-HOLD PUBLIC HEARING AND APPROVE FORMATION OF 1913 ACT DISTRICT FOR "MOUNTAIN GATE" TRACT 30963 BY CENTURY VINTAGE HOMES RECOMMENDATION: It is recommended that the City Council conduct a Public Hearing and approve two Resolutions: 1. Resolution confirming and levying the assessment; approving the Engineer's Report and authorizing the Riverside County Tax Collector to collect installments of the assessment (of $5,375,250 spread to 308 homes); and 2. Resolution determining unpaid assessments in AD 161. This is for the formation of a 1913 Act Assessment District, using 1915 Act Bonds for certain eligible public improvements for the area known as "Mountain Gate" Tract 30963 by Century Vintage Homes for an 83 acre subdivision located at the NE corner of N. Palm Canyon Drive(Hwy. 111) and Gateway Drive. This will be for formation,of Assessment District No. 161 SUMMARY: On February 26, 2003 City Council approved a Planned Development District(PDD)and Tentative Tract Map (TTM 30963) for a 308 lot single-family subdivision to be located on 83.8 acres at the northeast corner of North Palm Canyon Drive (Hwy. 111) and Gateway Drive in the northwest entryway to Palm Springs. The developer, Century Crowell Communities, LP, (Century Vintage Homes) has filed application for the formation of a 1913 Act Assessment District, using 1915 Act Bonds, to utilize Municipal Bonds to fund certain public improvements associated with the project, to lowerthe purchase price of the 308 proposed homes in the"Mountain Gate"subdivision.Century posted a$10,000 deposit with the application in November, 2002 to cover City administrative costs for the proposed district. The final PDD and Final Map was approved by the Planning Commission on March 26, 2003. Century closed escrow on the purchase of the property on April 2, 2003. On June 11, 2003 City Council approved Final Maps for Tract 30963-1 & 30963-2 as well as a Resolution of Intention, setting the Public Hearing date for July 30, 2003. Century Vintage Homes has submitted a signed Ballot requesting the district formation, as current sole owner of Tract 30963. A Public Hearing will be conducted and City Council will consider approval of the required resolutions to form AD 161. BACKGROUND: On January 22, 1992 City Council adopted Resolution No. 17774 which established written policies and procedures for the administration of special districts under the State of California 1911, 1913 and 1915 Improvement Acts and the Community Facilities Act of 1982 (Mello-Roos CFDs). A 32- page "Special District Policy & Procedures" guideline manual was adopted along with the resolution. These policies and procedures are similar to those adopted by the City and County of Riverside and since adopted by most cities concerned about special district safeguards in California. On October 8, 1998 the Grants and Special Districts Manager submitted a Special Districts Guidelines Manual, at the request of City Council and City Manager, to be used as a handout for prospective Palm Springs developers. On April 3, 2002,the City Council adopted Resolution No. 20304 which expanded the 1992 Special Districts Policy&Procedures, providing residential subdivisions ability to be included with qualifying CFDs. The City also adopted state approved property owner"Disclosure Forms", which must be distributed by developers to all prospective home buyers to disclose the costs and facts associated with assessment district costs prior to the purchase of homes within such special districts. liq AD 161-page 2 After Century proposed that an assessment district be formed to finance their public improvements for"Mountain Gate" Tract 30963, City staff instituted the City's Special District Team as follows: • CITY'S SPECIAL DISTRICT ADVISOR: Bob Mohler (RLM Consulting) • CITY'S FINANCIAL ADVISOR: Suzanne Harrell (Harrell & Company Advisors) • ASSESSMENT ENGINEER: Paul Thompson/Merle Schulze (Albert A. Webb Associates) • BOND COUNSEL: Urban (Urb) Schreiner (Aleshire &Wynder, LLP) • BOND UNDERWRITER: Sara Oberlies, VP (Stone & Youngberg, LLC) • REAL ESTATE APPRAISER: James Harris, MAI (Harris Realty Appraisal) • MARKET ABSORPTION ANALYST: Joseph Janczyk (Empire Economics, Inc.) • CENTURY HOMES: Marty Butler-Project Manager&Carlos Cueva-Public Financing Mgr. • CITY STAFF: Dave Barakian, Tom Kanarr, John Raymond, Troy Butzlaff, Trisha Sanders On April 2, 2003 City Council approved a consultant contract with Albert A. Webb Associates (at a cost of $29,000, plus incidentials) to prepare Preliminary and Final Engineer's Reports as the "Assessment Engineer and Special Tax Consultant" for the project (Minute Order No.7281/Agreement No. A4680). Webb's Preliminary Engineer's Report determines and verifies all eligible public improvement costs proposed by the developer.The improvements include"public" Grading, Street, Sewer, Storm Drain, Water Mains and Utility Work, as well as Street Lighting and an off-site perimeter Landscape parkway strip. It listed all eligible engineering design costs and detailed incidental expenses associated with the proposed 1913 Act District formation to be financed by this assessment district. A Boundary Map was prepared, indicating the boundary encompassing the limits of assessable lands (308 lots) within Assessment District 161. On June 11, 2003 City Council approved the Preliminary Engineer's Report and a Resolution of Intention, setting the Public Hearing date for July 30; also Final Maps for 30963-1 and 30963-2. Other project consultants: City staff is in the process of hiring two additional consultants (all fees reimbursable by Century Homes): 1. Real Estate Appraiser and 2. Market Absorption Analyst.The Real Estate Appraiser (must be MAI approved and familiar with 1913/1915 special districts) will analyze the current Real Estate values of the bulk land as well as the subdivided lot values based on current sales comparables in the area. The Market Absorption Analyst will determine how quickly the proposed homes will sell (absorb) into the real estate market, based on current similar sales records in Southern California, Coachella Valley and Palm Springs area. All of these consultant costs(Assessment Engineer/Real Estate Appraiser/Market Absorption Analyst/Special District Advisor) are being paid for by the developer via deposits to the City. The City hires the consultants and the subsequent reports are submitted directly to the City for approval. There is no cost to the City for staff and consultant costs described above due to Century's developer deposit contributions. To conform with the City's adopted Special District Policies & Procedures, the total combined appraised land and improvement values must be at least 4 times the estimated assessments. The 4:1 "Value to Lien Ratio" is conservative in the industry (which is often 3:1 in other agencies). The overall tax rate, including assessments, cannot exceed 2% of property values. CHRONOLOGY AND KEY TARGET DATES FOR "MOUNTAIN GATE" TR.30963: • March 26, 2003- Final PDD and Final Map for Tract 30963 approved • June 11- City Council approved Prelim. Engineer's Report & Res. of Intention for AD 161 • June 11- City Council approved Final Maps for Tract 30963-1 and 30963-2 • July 30- Public Hearing- Engineer's Report and Resolutions approved to form AD 161 • July 30- City approves Real Estate Appraiser & Market Absorption Analyst contracts • Aug. 15- Joint Financing Agreement approved with Desert Water Agency • Aug. 15- Market Absorption Analyst submits preliminary draft report • Sept. 2- Financial Advisor submits draft Preliminary "Official Statement" fio\ AD 161-page 3 • Sept. 2- Bond Counsel distributes draft documents • Sept. 10- Real Estate Appraiser& Market Absorption Analyst submit their Final Reports • October 1- City Council adopts Resolution approving Financing Documents • October 8- Print Preliminary Official Statement • October 21- City signs Bond Purchase Contract • October 24- Bond Counsel distributes Closing Documents • October 27- Financial Advisor delivers Final "Official Statement" to printer • October 29- Bond Pre-Closing • October 30, 2003- Bond Closing Century Vintage Homes has begun to take "pre-qualification reservation deposits" on the first phases of the 308 home subdivision. Deposits have already been received for 91 homes (of 109 allocated for pre-sale at this time) indicating an early brisk sales trend for"Mountain Gate". Please note that all special district consultant costs associated with this project are reimbursable by the developer via the upcoming bond sale or pre-paid via deposits already submitted to the City previously. There is no cost to the City for this Special District formation. 1 �— DAVID J. BARAKIAN Public Works Director/City Engineer REVIEWED BY DEPI OF FINANCE APPROVED City Manager ATTACHMENTS: 1. Resolution-Approving Engineer's Report; Confirming & Levying Assessments and authorizing Riverside County Treasurer/Tax Collector to collect installments for AD 161 (4 pgs) 2. Resolution- Determining unpaid Assessments of$5,375,250 for AD 161 (4 pgs.) 3. Vicinity Map ("Mountain Gate" Tract No. 30963) at Hwy. 111 and Gateway Drive 4. Proposed Mountain Gate A.D. No. 161 Cost Summary by City's Financial Advisor 5. Final Engineer's Report (on-file in City Clerk's office) Mountain Gate ' Assessment District No. 161 d 4F{ Tract No. 30963 t'F 1 � 1'ltf Jb p1S�Ti'�l Yl� �.N� AD will Finance Approx $4 Million to Reimburse Developer for: Water and Sewer Facilities Undergrounding Utilities Gateway Drive & Hwy 111 Improvements, Exterior Landscape, Development Impact Fees Acquisition Fund $ 41030,000 (Developer Funding $898,600) Reserve Fund 4355000 Capitalized Interest 550,000 Underwriting 110,000 Costs 220,000 Total Assessment $5,3455000 Bond Term — 30 Years Preliminary Est. 5/03 Effective Interest Rate — 7.0% � Overall Tax Rates: Ventana (1,200 SgFt) 2.00% Ventana (1,800 SgFt) 1.85% El Dorado (1,500 SgFt) 1.88% Bonds Will Not Be Issued Until El Dorado (3,000 SgFt) 1.68% Value to Lien Equals 4 to 1 Finished Lots $15,300,000 55=Homes Built 6,080,000 Value Needed $21,3801000 Estimated Annual Assessment: Ventana (1,200 SgFt) $1,260 Ventana (1,800 SgFt) $1,331 El Dorado (1,500 SgFt) $1,462 El Dorado (3,000 SgFt) $1,292 By Suzanne Harrell (Financial Advisor) May, 2003 r PROJECT SITE VICINITY MAP VICINITY MAP TRAI RD A less en i N . 1 � SIT Tr.30963 � Gr SAN RAFAEL DR ,per off, VISTA CHINO CITY OF PALM SPRINGS CASE NO. '5,Q931 Pb-279 DESCRIPTION APPLICANT `fTM 30963 App.for a Tentaflve Tract Map and, Century Vintage Homes Preliminary Planned Development to subdivide 83.83 acres into 308 single family lots,Zone PD-264, Sec.34 H:\USERS\BobM\Webb.Assess.Engr.Tr.30963.Contr.Ser.Agr.3-21-03.wpd CITY OF PALM SPRINGS Assessment District No. 161 (Mountain Gate)of the City of Palm Springs ORDER OF PROCEEDINGS FOR HEARING&ELECTION July 30,2003 1. The Mayor makes the following opening remarks: "This is the time and place for the public hearing for Assessment District Na 161 (Mountain Gate) of the City of Pahn Springs (the "District'), relating to the Engineer's Report with respect to Assessment District 161, the formation and extent of the District, the proposed acquisitions and intprovernents and the proposed assessment on property owners within the District described in the Engineer's report. "Before I formally open the hearing, are there any property owners or registered voters in the District who wish to file written protest? If so, they must be filed with the City Clerk at this time. For the pxupose of a majority protest onlv written protests are to be considered." [Pause to see if there are any protests.] The hearing is now officially opened. We will first have presentations by staff and the consultants about the formation of the District. After that, we will receive comments and questions and any oral protest from any interested persons. When all comments have been received the hearing will be closed." 2. The City Clerk states: "Notice of the public hearing has been given or waived and the affidavit attesting to publication or mailing of such notice is on file in the City Cleric's office." 3. Staff and Consultant Presentations. 4. Oral Protests and Comments by Public,if any. 1OD3/007/25093 v1 • Protest count by City Clerk. 5. Questions by Members of the City Coumcil. 6. Mayor closes Public IIearing. 7. The City Council may then ask questions and discuss the proposed formation of the District; the levy of the assessment and the information contained in the Engineer's Report. 8. The Mayor then announces: "At this time, I request Madame Cleric to open the ballots and announce the results of the election." [Pause for opening of the ballots.] 9. The City Clerk opens the ballots and announces the results of the election. The City Clerk then completes a copy of the Siatement of all Votes Cast and the Certificate of the Election Official as the canvass and results of election. 10. The Mayor then announces: "The results of the election being unanimously in favor of the formation of Assessment District No. 161 and the assessment on property within the District, we may now proceed with further action for the District. " 11. Staff presents the Waiver of the 30 cash collection period provided by Street and Highways Code Section 8620 by the Developer to the Council. 12. When discussion is through,the City Council considers for adoption by separate action: RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS CONFIRMING AND LEVYING THE ASSESSMENT,APPROVING THE ENGINEER'S REPORT, DESIGNATING THE TREASURER TO COLLECT AND RECEIVE MONEY AND AUTHORIZING THE RIVERSIDE 1003/007/25093 vl ol COUNTY TREASURER-TAX COLLECTOR TO COLLECT INSTALLMENTS OF THE ASSESSMENT and RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS DETERMINING UNPAID ASSESSMENTS IN ASSESSMENT DISTRICT NO. 161 (MOUNTAIN GATE) End of Item. 1003/007/25D93 vl 3J3 MOUNTAIN GATE PALM SPRINGS VENTURES, LLC CENTURY CROWELL COMMUNITIES (CENTURY VINTAGE HOMES) 1535 SOUTH"D" STREET, SUITE 200 SAN BERNARDINO, CA 92408 July 24, 2003 Honorable City Council City of Palm Springs 3200 Last Tahquitz Canyon Way Palm Springs, CA 92263 Re: Waiver of Notice of Hearing, Mailing of Ballots on the Question of the Levy of Assessments; and any and all Time Constraints on the Formation of Assessment District No. 161 of the City of Palm Springs, the Levy and Collection of Special Assessments Securing Limited Obligation Improvement Bonds, the Issuance and Sale of such Bonds, and the Cash Payment Period Dear Councilmembers: The undersigned is a duly authorized representative of Mountain Gate Palm Springs Ventures, LLC, the fee owner of that certain property in the City of Palm Springs designated as "Tract No. 30963 (Mountain Gate)." Such property has been formed into a special assessment district pursuant to the Municipal Improvement Act of 1913, Chapter 7 of Division 12 of the California Streets and Highways Code (the "1913 Act") for the purpose of levying assessments on all specially benefited property in said Tract No. 30963. Such special assessments are to secure limited obligation improvement bonds to be issued pursuant to the Improvement Bond Act of 1915, Division 10 of said Code (the "1915 Act"). The legal requirements of both Acts include time constraints for the performance by the City of certain actions in furtherance of the objectives of both Acts. In order for the proceedings for Tract No. 30963 to move forward as expeditiously as possible, the undersigned, Century Vintage Homes, does hereby waive the following: I. Notice of Hearing. 2. Mailing of Ballots on the question of the levy of assessments. 3. All other time and other constraints on the formation of Assessment District No. 161 and the levy of assessments thereunder. 4. The thirty day cash payment period for payment of assessments. � l I 1003/042/25241 vl Honorable City Council July 24, 2003 Page 2 Please enter this waiver in the appropriate records of the City. Very truly yours, MOUNTAIN GATE PALM SPRINGS VENTURES, LLC BY: CENTURY CROWELL COMMUNITIES BY: CENTURY VINTAGE HOMES By: y'/ zj. 1003/0,12/25241 vl RESOLUTION NO. OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS CONFIRMING AND LEVYING THE ASSESSMENT, APPROVING THE ENGINEER'S REPORT AND AUTHORIZING THE RIVERSIDE COUNTY TREASURER-TAX COLLECTOR TO COLLECT INSTALLMENTS OF THE ASSESSMENT WHEREAS, the City Council (the "City Council") of the City of Palm Springs, California (the "City") adopted its Resolution of Intention No. 20623 (the "Resolution of Intention"), on June 11, 2003, for the acquisition and/or construction of certain public improvements in a special assessment district designated as ASSESSMENT DISTRICT NO. 161 (MOUNTAIN GATE) (hereinafter referred to as the "Assessment District"); and WHEREAS, pursuant to the Resolution of Intention, an Engineer's Report, as therein provided, was presented, considered and approved; and WHEREAS, the Engineer's Report, as preliminarily approved and now presented.in final form (the "Engineer's Report"), does contain all the matters and items called for by law pursuant to the provisions of the Municipal Improvement Act of 1913 (the "Act"), being Division 12 (commencing with Section 10000) of the Streets and Highways Code of the State of California, including the following: 1. A general description of the public improvements to be included in the Assessment District; 2. Plans and specifications of the proposed improvements; 3. Estimate of cost; 4. Diagram of Assessment District; 5. An assessment for the improvements according to benefits; and 6. A provision for maximum annual assessments for administration of the Assessment District; and WHEREAS, the City Council fixed 7:00 p.m., or as soon thereafter as the matter may be heard, on Wednesday, July 30, 2003 at the Council Chambers, 3200 East Tahquitz Canyon Way, Palm Springs, California 92262 as the place, date and time for a public hearing on the proposed improvements; and I V WHEREAS, notices of said public hearing were duly and regularly posted and mailed or waived in the time, form and manner required by law and as evidenced by affidavits on file with the transcript of these proceedings; and WHEREAS, assessment ballots have been received and all protests have been heard and considered, and a full hearing has been given, all in the manner provided by law; and WHEREAS, a majority of the assessment ballots, weighted by value of assessment, have been submitted in favor of the proposed assessment and the owners of more than one-half (1/2) of the area being assessed for the cost of the proposed improvements did not file written protests against the proposed improvements, and the City Council did, after providing a full hearing and, to the extent such were received, overrule and deny all protests and objections; and WHEREAS, the City Council is now satisfied with the assessment and all matters contained in the Engineer's Report as now submitted. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Palm Springs, as follows: SECTION 1. The above recitals are all true and correct. SECTION 2. The Engineer's Report, including the assessment and diagram for the improvements, together with appurtenances and appurtenant work in connection therewith, is hereby approved and the assessment contained therein is hereby confirmed. SECTION 3. The public interest and convenience require the proposed improvements to be completed, and therefore it is hereby ordered that the work be done and the improvements constructed and/or acquired in the Assessment District, as set forth in the Resolution of Intention previously adopted and as set forth in the Engineer's Report previously presented and considered. SECTION 4. The assessment contained in the Engineer's Report is hereby levied upon the respective subdivisions of land in the Assessment District as set forth in the Engineer's Report. SECTION 5. The Engineer of Work shall forthwith deliver to the Superintendent of Streets said assessment, together with the diagram attached thereto and made a part thereof, as confirmed, with his certificate of such confirmation attached and the date thereof; the Superintendent of Streets shall then immediately record said diagram and assessment in his office in a suitable book to be kept for that purpose and attach thereto his certificate of the date of such recording. SECTION 6. The City Clerk, upon the recording of the diagram and assessment, is hereby directed to mail to each owner of real property within the Assessment District at his last known address, as the same appears on the tax rolls of the County of Riverside or as on file with the City Clerk, or to both addresses if said address is not the same, or to General Delivery when no address so appears, a statement containing a designation by street number or other description of the property assessed sufficient to enable the owner to identify the same, the amount of the assessment securing the series of bonds to be sold secured by such assessment, the time and place of payment thereof, the waiver of such payment period, if any, 164 M the effect of failure to pay within such time, and a statement of the fact that bonds will be issued on unpaid assessments pursuant to the Improvement Bond Act of 1915. SECTION 7. The County of Riverside Treasurer-Tax Collector (the "Treasurer") is hereby designated to collect and receive the money paid pursuant to said Assessment as herein confirmed and subsequently recorded in the office of the Superintendent of Streets. The record owners in the Assessment District have unanimously waived the thirty day collection period of Section 8620 of the California Streets and Highways Code and the Superintendent of Streets is hereby directed to file with the Treasurer a complete list of all unpaid assessments, upon the assessment. All amounts assessed thereon are due and payable immediately without notice to the record owners in the Assessment District which notice has been waived by unanimous consent of the record owners in the Assessment District on The bonds will be issued upon the unpaid assessments. SECTION 8. Upon confirmation of the assessment and recordation of the assessment roll and diagram, a certified copy of the assessment diagram shall be immediately filed in the office of the County Recorder of the County of Riverside. Immediately thereafter, a copy of the Notice of Assessment shall be completed and recorded in the office of the County Recorder in the County of Riverside in the manner and form as set forth by law and specifically Section 3114 of the Streets and Highways Code of the State of California, whereupon said assessment shall become a lien upon the land on which it is levied, pursuant to the Act. SECTION 9. The City Council hereby authorizes the Treasurer to collect installments each fiscal year until paid of the Assessment, as herein confirmed and remaining unpaid, in the amounts provided by the Treasurer, and confirms to the Treasurer that the requirements of State Proposition 218, approved in November 1996, have been met in the proceedings for the Assessment District. SECTION 10. This resolution shall take effect immediately upon its adoption. ADOPTED this 301h day of July, 2003. AYES: NOES: ABSENT: ABSTAIN: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA City Clerk City Manager REVIEWED AND APPROVED AS TO FORM: City Attomey RESOLUTION NO. -_- i OF THE CITY COUNCIL OF THE CITY OF PALM SPRINGS DETERMINING UNPAID ASSESSMENTS IN ASSESSMENT DISTRICT NO. 161 (MOUNTAIN GATE) WHEREAS, the Finance Director (the "Finance Director") of the City of Palm Springs (the "City") has filed with the City Clerk a list of paid and unpaid assessments for Assessment District No. 161 (Mountain Gate), a copy of which list is attached to this resolution as Exhibit A and by this reference incorporated herein, certifying that 30-day period during which to pay such assessment has been waived and that no cash payments were received, and that the amount of assessments remaining unpaid is equal to the arnount of assessments levied; and WHEREAS, the City Council of the City (the "City Council") wishes to establish said amount as the amount of unpaid assessments and to ratify the amount of not to exceed $5,375,250 as the principal amount of limited obligation improvement bonds authorized and issued in these proceedings upon the security of said unpaid assessments. NOW, THEREFORE, THE CITY COUNCIL HEREBY FINDS, DETERMINES AND RESOLVES as follows: SECTION 1. Assessments Unpaid. This Council hereby finds and determines that, as set forth in the attached List of Unpaid Assessments, and there being no information to the contrary, the arnount of assessments remaining unpaid in Assessment District No. 161 (Mountain Gate) is the amount set forth in said List of Paid and Unpaid Assessments, and by separate resolution, this Council has authorized the issuance of limited obligation improvement bonds of the City in a principal amount to be established on the basis of said unpaid assessments. The principal amount of bonds to be issued shall be equal to the amount of assessments levied, rounded down, if necessary, to the nearest $5,000. SECTION 2. Transmittal to County Auditor. The City Cleric is hereby directed to transmit a copy of this resolution to the County Auditor-Controller of the County of Riverside, and said County Auditor is requested to proceed in accordance with Section 8682 of the California Streets and Highways Code in the collection of installments of these assessments and the interest thereon on the secured property tax assessment roll of the County, commencing with the 2003-04 tax roll. SECTION 3. Effective Date. This Resolution shall take effect immediately upon adoption. 1003/009/24960 vl Res. No. Page 2 ADOPTED this 30`l' day of July, 2003. AYES: NOES: ABSENT: ABSTAIN: ATTEST: CITY OF PALM SPRINGS, CALIFORNIA City Clerk City Manager REVIEWED AND APPROVED AS TO FORM: City Attorney I 1003/008/24960 vl EXHIBIT A CITY OF PALM SPRINGS ASSESSMENT DISTRICT NO. 161 (MOUNTAIN GATE) CERTIFICATE OF PAID AND UNPAID ASSESSMENTS I HEREBY CERTIFY that (1) the 30-day cash collection period dining which assessments may be paid in cash has expired on 2003, and no cash payments have been received in Assessment District No. 161 (Mountain Gate), City of Palm Springs, California, and (2) that the amount of assessments remaining unpaid in Assessment District No. 161 (Mountain Gate) is therefore equal to the principal amount of assessments levied, as indicated on Exhibit A attached hereto. Executed at Palm Springs, California, on 2003. Tom Kanarr Finance Director City of Palm Springs i D3 1003/009/24960 v1 Res. No. Page 4 CITY OF PALM SPRINGS ASSESSMENT DISTRICT NO. 161 (MOUNTAIN GATE) LIST OF PAID AND UNPAID ASSESSMENTS Assessment Assessor's Parcel Confinned Number Number Parcel Owner Assessment Amount 00001 669-340-001-9 Century Crowell Conummities, LP $2,261,250.00 00002 669-371-002-5 Century Crowell Communities, LP $3,114,000.00 TOTAL $5,375,250.00 PAID ASSESSMENT: $0.00 UNPAID ASSESSMENTS: $5,375,250.00 1003/008/24960 vl