HomeMy WebLinkAbout20003227.tiff WHITE AND ASSOCIATES
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GARY R.WHITE PROFESSIONAL CORPORATION EMPHASIZING SPE\I AL
KRISTEN D. BEAR ATTORNEYS AT LAW DISTRICT REPRESENTATI 'N,
GEORGE M. ROWLEY MUNICIPAL, LAND USE 'ND
TODD W.WALLACE 8005 S. CHESTER STREET, SUITE 125 ANNEXATION LAW, '.ND
K. SEAN ALLEN ENGLEWOOD, COLORADO 80112-3524 DEVELOPMENT FINANCNG
MATTHEW C. CLAWSON TELEPHONE (303) 858-1800
ALYSSE A. EMERY FACSIMILE (303) 858-1801
FIRM@GWHITEANDASSOCIATES.COM
H ITEANDASSOCIATES.CO M
December 6, 2000 *� Z WT 9 I
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J.A. Suki Tsukamato O�
Weld County Clerk & Recorder q/ 0/ Y
1402 N. Seventeenth Avenue
Greeley, CO 80632
Re: Winter Farm Metropolitan District Nos. 1-3
Dear Ms. Tsukamato:
Our office serves as general counsel to the aforementioned Districts (which were recently
organized pursuant to the Special District Act, Section 32-1-101 et seq., C.R.S.). In accordance
with Section 32-1-306, C.R.S., we are enclosing a copy of the Consolidated Service Plan for said
Districts. This Service Plan is to be retained by your office as a public record for public
inspection.
Also enclosed is a certified copy of the Order & Decree of the District Court organizing
the Districts (together with a description of the area concerned). Please record this material in
accordance with Section 32-1-306 and Section 32-1-105, C.R.S. Enclosed as payment for the
recordation fee is a check in the amount of$75. Once recorded,please return the originals to my
attention in the enclosed self-addressed and stamped envelope.
As you are aware, Section 32-1-105, C.R.S. requires you to notify the County Assessor
when a special district has been organized. Further, the same statute requires you to file a copy
of that notice with the Division of Local Government.
Please contact our office with any questions. We appreciate your assistance in these
matters.
Sincerely,
WHITE AND ASSOCIATES
Prgssional Corporal
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George M?Rowley
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Enclosures
cc: Division of Local Government ,
Weld County Assessor's Office (w/Map and Order and Decree) 2000-3227
WFM D\LTRS\GMR1430120600 0542.0002 SO et O p
CONSOLIDATED
SERVICE PLAN
FOR
WINTER FARM METROPOLITAN DISTRICT NOS. 1-3
November 15, 2000
LIST OF EXHIBITS, FIGURES AND TABLES
EXHIBIT A Legal Descriptions of Districts
EXHIBIT B Financing Plan
EXHIBIT C Statutory Contents of this Service Plan
FIGURE 1 Development Plan
FIGURE 2 Map of Districts
FIGURE 3 Phasing Plan
FIGURE 4 Potable Water System
FIGURE 5 Raw Water Distribution Plan
FIGURE 6 Sanitary Sewer Plan
FIGURE 7 Street plan
FIGURE 8 Street Section
FIGURE 9 Storm Sewer Plan
TABLE 1 Development Projections
TABLE lA Phased Development Projections
TABLE 2 Water Development Calculations
TABLE 3 Projected Water Requirements
TABLE 4 Wastewater Flow Calculations
TABLE 5 Projected Wastewater Flows
TABLE 6 Street Standards
TABLE 7 Total Cost Summary
TABLE 8 Operation and Maintenance Cost Estimate
INTRODUCTION 1
A. General Overview I
1. Multiple District Structure 2
2. Benefits of Multiple District Structure 3
a. Coordinated Services 3
b. Uniform Mill Levy 3
c. Bond Interest Rates 3
3. Configuration of Districts 4
4. Long-Term District Plan 4
5. Existing Services and Districts 4
6. Property Owner Associations 5
B. General Financial Information and Assumptions 5
C. Contents of Service Plan 6
D. Modification of Service Plan 6
II. NEED FOR NEW DISTRICTS AND GENERAL POWERS 7
A. Need for Metropolitan Districts 7
B. General Powers of Districts 7
1. Water 7
2. Streets 7
3. Traffic and Safety Controls 8
4. Television Relay and Translator 8
5. Transportation 8
6. Parks and Recreation 8
7. Sanitation 8
8. Mosquito and Pest Control 8
9. Legal Powers 8
10. Other 9
III. DESCRIPTION OF FACILITIES AND IMPROVEMENTS 9
A. General 10
B. General Design Standards 10
1. Water System 10
2. Wastewater System 10
3. Streets 10
4. Storm Drainage 10
C. Water System 10
1. General 10
2. Water Demand 11
3. Water Transmission 11
4. Water Storage 12
5. Water Distribution 12
6. Raw Water 12
D. Wastewater System 12
1. General 12
2. Wastewater Flows 12
3. Wastewater Collection 12
E. Street System and Traffic System 13
1. General 13
2. Streets 13
3. Landscaping 13
4. Signals and Signage 13
5. Offsite Improvements 13
F. Storm Drainage 13
1. General 13
2. Swale and Channel Improvements 14
3. Culverts 14
4. Detention Storage 14
G. Park and Recreation 14
H. Transportation 14
I. Mosquito Control 14
J. Estimated Cost of Facilities 15
IV. DEVELOPMENT PROJECTIONS 15
V. PROPOSED AND EXISTING AGREEMENTS 15
A. Master Intergovernmental Agreement 15
B. Town IGA 15
C. Other Agreements/Authority 15
VI. OPERATION AND MAINTENANCE COSTS 16
VII. FINANCIAL PLAN 16
VIII. OTHER REQUIREMENTS 18
IX. CONCLUSIONS 18
I. INTRODUCTION
A. General Overview
This Service Plan ("Service Plan") for Winter Farm Metropolitan District Nos. 1-3
(herein after "Districts"), is for two special districts proposed to be organized to serve the needs
of a new community to be known as "Winter Farm"
The proposed Districts are generally located in the southeast corner of Weld County
Road 19 and Weld County Road 70 in Windsor. The site consists of approximately 239 acres
divided into several development areas planned for development of residential and commercial
areas.
The primary purpose of the proposed Districts is to provide public improvements to be
dedicated to the Town of Windsor ("Windsor") or retained by the Districts for the use and
benefit of the Districts' inhabitants and taxpayers. Improvements to be provided by the Districts
shall include the types of facilities and improvements generally described in Section IV,
consisting of streets, drainage improvements, traffic and safety controls, park and recreation
facilities, water, sewer, television relay and translators and pest control as needed for the area.
The Town will maintain and operate the sanitary sewer, potable water, streets and drainage
improvements, once the improvements have been constructed and accepted by Windsor.
It is hoped that the Districts' structure set forth herein can serve as a method by which
development can occur in Windsor in such a way as to eliminate economic risk to Windsor,
provide economic benefits to property owners, and place the risk of development on property
developers.
The Financing Plan discussed herein has been designed to assure that at no time will
obligations of the Districts be in risk of default, and that Windsor will never have any legal
responsibility for any of the Districts' obligations. This Service Plan is designed to assure that
the risk of development remains with the developer until a sufficient tax base has been achieved
to pay the Districts' debt with reasonable mill levies. Initial bond issues will be purchased by the
developer, and public sale of the Districts' obligations will not occur until the requirements of
this Service Plan have been met.
This Service Plan has been prepared with sufficient flexibility to enable the Distncts' to
provide required services and facilities under evolving circumstances to meet the needs of the
community. While the assumptions upon which this Service Plan are generally based are
reflective of the anticipated initial zoning for the property upon annexation to Windsor within the
proposed Districts, the cost estimates and the Financing Plan are sufficiently flexible to enable
the Districts to provide necessary services and facilities without the need for repeated
amendments to the Service Plan. Modification of the proposed configuration of improvements,
scheduling of construction of such improvements, as well as the locations and dimensions of
various facilities and improvements shall be permitted to accommodate development needs
consistent with zoning and future development approvals for the property. The Districts shall
not exercise any powers including powers pursuant to Section 31-23-209, C.R.S. to avoid
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meeting development requirements, timing, or construction standards imposed on the property
improvements by Windsor pursuant to the Annexation Agreement, zoning or subdivision
approvals, or subdivision improvements agreements.
Considerable public infrastructure will be constructed to provide the required water,
wastewater, streets and other improvements needed for the Winter Farm area. This Service Plan
addresses the improvements that will be provided by the special districts and demonstrates how
the districts will work cooperatively to provide the necessary public improvements. All Exhibits,
Tables and Figures referred to herein are attached to the end of this Service Plan in the
appendices.
1. Multiple District Structure. This Service Plan is submitted in accordance
with Part 2 of the Special District Act (§§ 32-1-201, et seq., C.R.S.) It defines the powers and
authorities of, as well as the limitations and restrictions on, Winter Farm Metropolitan District
Nos. 1-3. Winter Farm Metropolitan District No. 1 shall be referred to as "the Service District,"
and Winter Farm Metropolitan District Nos. 2 and 3 shall be referred to as "the Financing
Districts." The Service District and Financing Districts are sometimes collectively referred to as
"the Districts" and individually as "the District."
The use of a consolidated Service Plan for the Districts assures proper coordination of the
powers and authorities of the independent Districts, and avoids confusion regarding the separate,
but coordinated, purposes of the Districts that could arise if separate service plans were used.
Unless otherwise specifically noted herein, general provisions of this Service Plan apply to all
Districts. Where possible, however, specific reference is made to an individual District to help
distinguish the powers and authorities of each District.
The "Financing Plan" discussed in Section VII refers to a preliminary financial plan for
the Districts which is intended to be read as a unified Financing Plan which may be used for
public improvements for Winter Farm.
The Service District is responsible for managing the construction and operation of
facilities and improvements needed for Winter Farm. The Financing Districts are responsible for
providing the funding and tax base needed to support the Financing Plan for capital
improvements. Various agreements have been and are expected to be executed by the Districts
clarifying the nature of the functions and services provided by each District. The agreements are
designed to help assure the orderly development of essential services and facilities resulting in a
community which will be both an aesthetic and economic asset to Windsor.
The continued operation of Winter Farm Metropolitan District No. 1 as the Service
District which owns and operates the public facilities throughout Winter Farm, and the continued
operation of Winter Farm Metropolitan District Nos. 2 and 3 as the Financing Districts that will
generate the tax revenue sufficient to pay the costs of the capital improvements, creates several
benefits for the inhabitants of the community and Windsor. In general, those benefits are: (a)
coordinated administration of construction and operation of public improvements, and delivery
of those improvements in a timely manner; (b) maintenance of reasonably uniform mill levies
and reasonable tax burdens on all residential and commercial areas of Winter Farm through
proper management of the financing and operation of public improvements; and (c) assured
compliance with state laws regarding taxation in a manner which permits the issuance of tax
exempt debt at the most favorable interest rates possible. Each of these concepts is addressed in
greater detail in the following paragraphs.
2. Benefits of Multiple District Structure.
a. Coordinated Services. Development of Winter Farm will proceed in
several phases, each of which requires the extension of public services and facilities. The
multiple district structure assures that the construction and operation of each phase of public
facilities is primarily administered by a single Board of Directors consistent with a long term
construction and operations program. Use of the Service District as the entity responsible for
construction of each phase of improvements and for management of operations will facilitate a
well-planned financing effort through all phases of construction and assists in assuring
coordinated extension of services.
The multiple district structure helps assure that facilities and services needed for future
build-out of Winter Farm will be provided when they are needed, and not sooner. This, in turn,
allows the full costs of public improvements to be allocated over the full build-out of Winter
Farm and helps avoid disproportionate cost burdens being imposed on the early phases of
development.
b. Uniform Mill Levy. Allocation of the responsibility for paying debt for
capital improvements will continue to be managed through development of a unified financing
plan for those improvements and through development of an integrated operating plan for long-
term operations and maintenance. Use of the Service District to manage these functions helps
assure that no area within Winter Farm becomes obligated for more than its share of the costs of
capital improvements and operations. Low-density areas will not bear a disproportionate burden
of debt and operating costs, nor will high valued areas bear disproportionate burdens.
Intergovernmental agreements between the Districts will assure that mill levies remain
reasonably uniform throughout Winter Farm.
c. Bond Interest Rates. Some have asserted that Colorado law may require
that before the Financing Districts may raise mill levies or increase other revenues to pay debt
service on bonds, they must fully exhaust their operating revenue. This has the potential result of
rendering a district operationally bankrupt before it can raise mill levies for payment of debt
service. This requirement, if ultimately upheld by the Colorado courts, adversely affects the
ability of a district to issue bonds at attractive rates since the bond markets may dictate
unreasonably high interest rates in a single district structure to compensate for this risk.
Separation of the financing and service functions of the Districts into two districts will help
eliminate this problem. Consequently, the multiple district structure is less risky and will allow
bonds to be issued to finance public improvements at lower rates than if a single special district
is organized.
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3. Configuration of Districts. In order to implement the multiple district
structure, the boundaries of the Service District and Financing Districts need to be carefully
configured. A map showing the boundaries of the Districts is provided in Figure 2 in the
appendices. The Service District contains approximately 5 acres, and the Financing Districts
will contain approximately 234 acres. The combined acreage of the Districts covers all acreage
within Winter Farm. Legal descriptions of the property within the boundaries of the Districts are
attached to the end of this Service Plan as Exhibit A.
The "service area" (the area legally permitted to be served) for the Service District will
consist of the entire Winter Farm community, including the property within the Financing
Districts' boundaries. The Service District has the power to impose taxes only within its legal
boundaries, but is permitted to provide public services to the entire community as well as to
property or individuals outside of Winter Farm. The Financing Districts have power to assess
taxes and other charges permitted by law.
It is currently anticipated that at build-out no residential units will be located within the
Service District and that it will include only open space or commercial areas. The Financing
Districts will contain both residential and commercial properties, expected to consist of
approximately 635 residential units and 27.4 acres of commercial. The projected population of
Winter Farm at full build-out is 2,223 persons, and the projected total valuation is approximately
$13,160,230.
It is possible that additional property may be included in the Districts. Under Colorado
law, the fee owner or owners of one hundred percent of any property proposed for inclusion may
petition the boards of directors of the Districts for inclusion, or annexation, of property into the
Districts. Additionally, less than one hundred percent of the owners of an area may petition the
Districts for inclusion, or the board may adopt a resolution calling for an election on inclusion of
the property. The inclusion of additional property into the Districts will require Town approval.
Realignment of the Districts' boundaries within the property currently contained in the Districts
shall also require Town review.
4. Long-Term District Plan. After all bonds or other debt instruments have
been issued by the Districts, and adequate provision has been made for payment of all debt of the
Districts, the electorate of the Districts will have the opportunity to consider either the
consolidation of the Service District and Financing Districts into a single entity, or the
dissolution of the Service District and/or Financing Districts in accordance with state law. The
Service District and Financing Districts will consider consolidation and/or dissolution at the time
each District's debt has been paid and adequate provision has been made for operation of all the
Service District facilities. Ultimately, control of these decisions will rest with the electorate in
each District.
5. Existing Services and Districts. There are currently no other entities in
existence in the Winter Farm area which have the ability and/or desire to undertake the design,
financing and construction of improvements needed for the community. It is also the developer's
understanding that Windsor does not consider it feasible or practicable for Windsor to provide
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the necessary services and facilities for Winter Farm. Consequently, use of the new Districts is
deemed necessary for the provision of public improvements in Winter Farm.
In order to minimize the proliferation of new governmental structures and personnel, the
Service District intends to utilize existing entities as much as possible for operations and
maintenance of public improvements. Operations and maintenance of water and sewer
improvements will be the responsibility of Windsor after completed water and sewer
improvements are accepted by the Town and conveyed to the Town by the Service District. The
timing for conveyance of improvements to Windsor will be developed by mutual agreement
between the Service District and Windsor as generally described above and in Section V hereof.
It is possible that other key operations and maintenance services may be provided by
other entities by appropriate agreements with the Service District. Consequently, while the
Service District and Financing Districts exist to finance capital improvements and coordinate the
provision of services, they are expected to utilize existing entities and personnel as much as
possible.
6. Property Owner Associations. Certain services will be provided within
Winter Farm by property owner associations expected to be organized as Colorado non-profit,
private membership organizations comprised of all property owners in Winter Farm. The
associations are expected to provide architectural control services, community organizations,
community events and activities, community marketing, animal control, security, common area
maintenance, and other programs that may be beyond the scope of the Districts.
B. General Financial Information and Assumptions
The 1999 certified assessed valuation of all taxable property within the boundaries of
Winter Farm was approximately $49,000.
The anticipated cost of improvements necessary to provide access to and appropriate
services within Winter Farm are substantial and are estimated in Table 7 in the appendices. The
Districts may obtain financing for the capital improvements needed for Winter Farm through the
issuance of general obligation bonds or other debt instruments by the Financing Districts and
from revenue bonds and other instruments issued by the Service District. General obligation
debt will be payable from revenues derived from ad valorem property taxes and from other
sources. It is currently anticipated that significant credit enhancement and security for debt
issued by the Service District will be provided by the developer. The Financing Districts will
issue general obligation debt after determination that the assessed valuation is sufficient to pay
debt service with reasonable mill levies, thereby reducing risk to property owners. The revised
preliminary financial forecasts for the Districts are contained in Exhibit B to this Service Plan.
The "Financing Plan" demonstrates one method that might be used by the Districts to finance the
cost of infrastructure. At the time bonds or other debt instruments are proposed to be issued,
alternative financing plans may be employed and be utilized by the Districts.
Due to the credit enhancement and other support expected to be received from the
developer, the Financing Plan demonstrates that the cost of infrastructure described herein can
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continue to be provided with reasonable mill levies. The figures contained herein depicting costs
of infrastructure and operations will not constitute legal limits on the financial powers of the
Districts; provided, however, that the Districts shall not be permitted to issue bonds which are
not in compliance with the bond registration and issuance requirements of Colorado law.
The financial structure contemplated in the Financing Plan demonstrates that the risks
associated with development of Winter Farm will be borne initially by the developer of the
project. Due to the nature of liabilities associated with issuance of revenue bonds, the risk of
development will continue to rest with the developers until such time as the Financing Districts
have the ability to issue general obligation debt. At such time as general obligation debt is
issued, the responsibility for payment of the costs of infrastructure needed for Winter Farm will
be shifted, incrementally, to the Financing Districts. General obligation debt issued by the
Financing Districts will limit the responsibility for repayment of such debt to the Financing
Districts. In this manner, Windsor can continue to be assured that the risks of development and
the responsibility for repayment of debt issued for Winter Farm will be borne solely by the
residents and property owners of Winter Farm, and will not become the responsibility, in any
degree, of Windsor. Additionally, Windsor can be assured that mill levies paid by Winter Farm
residents cannot exceed acceptable levels.
C. Contents of Service Plan
This Service Plan consists of a preliminary financial analysis and preliminary engineering
plan showing how the facilities and services for Winter Farm can continue to be provided and
financed by the Districts. Numerous items are included in this Service Plan in order to satisfy
the requirements of law for formation of special districts. Those items are listed in Exhibit C
attached hereto. Each of the requirements of law are satisfied by this Service Plan.
The assumptions contained within this Service Plan were derived from a variety of
sources. Information regarding the present status of property within the Districts, as well as the
current status and projected future level of similar services, was obtained from the developer.
Construction cost estimates were assembled by TST, Inc. Consulting Engineers which has
experience in the costing and construction of similar facilities. Legal advice in the preparation of
this Service Plan was provided by the law firm of White and Associates Professional
Corporation, developer's counsel, which represents numerous special districts.
D. Modification of Service Plan
This Service Plan has been designed with sufficient flexibility to enable the Districts to
provide required services and facilities for Winter Farm under evolving circumstances without
the need for numerous amendments. While the assumptions upon which this Service Plan are
generally based are reflective of current zoning for the property within Winter Farm, the cost
estimates and the Financing Plan is sufficiently flexible to enable the Districts to provide
necessary services and facilities without the need to amend this Service Plan as zoning changes.
Modification of the general types of services and facilities, and changes in proposed
configurations, locations, or dimensions of various facilities and improvements shall be
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permitted to accommodate development needs consistent with then-current zoning for the
property.
II. NEED FOR NEW DISTRICTS AND GENERAL POWERS
A. Need for Metropolitan Districts
The property in Winter Farm is undeveloped. No other entities exist which will finance
the construction of the facilities needed for Winter Farm. Operation and maintenance of some
facilities will be assumed by Windsor in the future. The IGA referred to in Section V hereof will
address and define the activities to be undertaken by various entities, including Windsor, with
regard to public improvements.
B. General Powers of Districts
Each District will continue to have power and authority to provide the services and
facilities described in this Service Plan both within and outside their boundaries in accordance
with the law. The powers and authorities of each District will be allocated and further refined in
a "Master" IGA between the Districts. For purposes of the Control Act, the IGA shall not
constitute an amendment of this Service Plan. It will constitute a binding agreement between the
Districts regarding implementation of the powers contained in this Service Plan.
In accordance with (a) all of the policies, procedures, rules and regulations of the
Windsor Municipal Code, (b) all of the terms and conditions of the annexation agreement
between Windsor and Winter Farm Development, LLC and (c) all of the terms and conditions
outlined in Section V.B. Town IGA of this Service Plan. Each District shall provide for all of
the following services and facilities:
1. Water. The design, acquisition, installation, construction, operation, and
maintenance of a complete water and irrigation water system, including, but not limited to. water
rights, water supply, treatment, storage, transmission and distribution systems for domestic and
other public or private purposes, together with all necessary and proper reservoirs, treatment
works and facilities, wells, water rights, equipment and appurtenances incident thereto which
may include, but shall not be limited to, transmission lines, distribution mains and laterals,
storage facilities, land and easements, together with extensions of and improvements to said
systems.
2. Streets. The design, acquisition, installation, construction, operation, and
maintenance of street and roadway improvements, including, but not limited to curbs, gutters,
culverts, storm sewers and other drainage facilities, detention ponds, retaining walls and
appurtenances, as well as sidewalks, bridges, parking facilities, paving, lighting, grading,
landscaping, snow removal equipment, or tunnels and other street improvements, together with
all necessary, incidental, and appurtenant facilities, land and easements, together with extensions
of and improvements to said facilities.
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3. Traffic and Safety Controls. The design, acquisition, installation,
construction, operation, and maintenance of traffic and safety protection facilities and services
through traffic and safety controls and devices on streets and highways, environmental
monitoring, and rodent and pest controls necessary for public safety, as well as other facilities
and improvements including, but not limited to, main entry buildings, access gates, signalization
at intersections, traffic signs, area identification signs, directional assistance, and driver
information signs, together with all necessary, incidental, and appurtenant facilities, land
easements, together with extensions of and improvements to said facilities.
4. Television Relay and Translator. The acquisition, construction,
completion, installation and/or operation and maintenance of television relay and translator
facilities, including, but not limited to, cable television and communication facilities, together
with all necessary, incidental and appurtenant facilities, land and easements, and all necessary
extensions of and improvements to said facilities.
5. Transportation. The design, acquisition, installation, construction,
operation and maintenance of public transportation system improvements, including
transportation equipment, park and ride facilities and parking lots, parking structures, roofs,
covers, and facilities, including, but not limited to facilities for the commercial structures and for
the conveyance of the public consisting of buses, automobiles, and other means of conveyance,
and structures for repair, operations and maintenance of such facilities, together will all
necessary, incidental and appurtenant facilities, land and easements, and all necessary extensions
of and improvements to said facilities or systems.
6. Parks and Recreation. The design, acquisition, installation, construction,
operation and maintenance of public park and recreation facilities or programs including, but not
limited to, swimming pools and spas, tennis courts, exercise facilities, bike paths, hiking trails,
snowshoe trails, pedestrian trails, pedestrian bridges, pedestrian malls, public fountains and
sculpture, art, and botanical gardens, equestrian trails and centers, picnic areas, skating areas and
facilities, common area landscaping and weed control, outdoor lighting of all types, community
events, and other facilities, together with all necessary, incidental and appurtenant facilities, land
and easements, and all necessary extensions of and improvements to said facilities or systems.
7. Sanitation. The design, acquisition, installation, construction, operation
and maintenance of storm or sanitary sewers, or both, flood and surface drainage, treatment and
disposal works and facilities, and all necessary or proper equipment and appurtenances incident
thereto, together with all necessary, incidental and appurtenant facilities, land and easements, and
all necessary extensions of and improvements to said facilities or systems.
8. Mosquito and Pest Control. The design, acquisition, installation,
construction, operation, and maintenance of systems and methods for the elimination and control
of mosquitoes, rodents and other pests.
9. Legal Powers. The powers of the Districts will be exercised by their
Boards of Directors to the extent necessary to provide the services contemplated in this Service
Plan. The foregoing improvements and services, along with all other activities permitted by law,
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will be undertaken in accordance with, and pursuant to, the procedures and conditions contained
in the Special District Act, other applicable statutes, and this Service Plan, as any or all of the
same may be amended from time to time.
10. Other. In addition to the powers enumerated above, the Boards of
Directors of the Districts shall also continue to have the following authority:
a. To amend this Service Plan as needed, subject to the appropriate statutory
procedures, including, by written notice to Windsor pursuant to § 32-1-207, C.R.S., of actions
that the Districts believe are permitted by this Service Plan but which may be unclear. In the
event Windsor elects not to seek to enjoin any such activities under said statute, such election
shall constitute agreement by Windsor that such activities are within the scope of this Service
Plan. The Districts shall have the right to amend this Service Plan independent of participation of
the other Districts; provided, that the Districts shall not be permitted to amend those portions of
this Service Plan which effect, impair, or impinge upon the rights or powers of the other Districts
without such District's consent; and
b. To forego, reschedule, or restructure the financing and construction of
certain improvements and facilities, in order to better accommodate the pace of growth, resource
availability, and potential inclusions of property within the Districts, or if the development of the
improvements and facilities would best be performed by another entity; and
c. To provide all such additional services and exercise all such powers as are
granted expressly or by implication of Colorado law, and which the Districts are required to
provide or exercise or, in their discretion, choose to provide or exercise; and
d. To exercise all necessary and implied powers under Title 32, C.R.S. in the
reasonable discretion of the Boards of Directors of the Districts.
III. DESCRIPTION OF FACILITIES AND IMPROVEMENTS
The Service District and Financing Districts are permitted to exercise their statutory
powers and their respective authority set forth herein to finance, construct, acquire, operate and
maintain the public facilities and improvements described in Section 11 of this Service Plan
either directly or by contract. Where appropriate, the Districts will contract with various public
and/or private entities to undertake such functions.
The diagrams contained in the appendix to this Service Plan show the conceptual layouts
of the public facilities and improvements described in Section II hereof. Detailed information
for each type of improvements needed for Winter Farm is set forth in the following pages. It is
important to note that the preliminary layouts contained in the appendix are conceptual in nature
only, and that modifications to the type, configuration, and location of improvements will be
necessary as development proceeds. All facilities will be designed in such a way as to assure
that the facility and service standards will be compatible with those of Windsor and of other
municipalities and special districts which may be affected thereby.
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The following sections contain general descriptions of the contemplated facilities and
improvements that will be financed by the Financing Districts.
A. General
Construction of all planned facilities and improvements will be scheduled to allow for
proper sizing and phasing to keep pace with the need for service. All descriptions of the specific
facilities and improvements to be constructed, and their related costs, are estimates only and are
subject to modification as engineering, development plans, economics, Windsor's requirements,
and construction scheduling may require.
B. General Design Standards
Improvements within the Districts will be designed and installed by the Service District
in general conformance with current standards adopted by the Service District and Windsor.
Designs and contract documents prepared for improvements must be reviewed and approved by
the Service District and Windsor. Again, the Town IGA described in Section V hereof describes
the procedures which will be followed to assure compliance with the requirements of this Service
Plan.
1. Water System. The potable water system will deliver water that meets
Primary and Secondary Drinking Water Standards, and will be designed and installed to conform
to the current standards and recommendations of the American Water Works Association, the
Insurance Services Office, the Colorado Department of Health, Windsor, and Rules and
Regulations adopted by the Districts.
2. Wastewater System. The wastewater system will transport wastewater to
Windsor's regional wastewater treatment facility. The wastewater collection system will be
designed and installed to conform to the current standards and recommendations of the Colorado
Department of Health, Windsor, and Rules and Regulations adopted by the Districts.
3. Streets. Public streets will be designed and installed to conform to the
standards and recommendations of the American Association of State Highway and
Transportation Officials, the Colorado Department of Highways (where applicable), the Town of
Windsor and the Rules and Regulations adopted by the Districts.
4. Storm Drainage. All major storm drainage facilities will be designed for
the 100-year storm event. All storm drainage designs will conform to the standards and
recommendations of the Town of Windsor and the Rules and Regulations of the Districts.
C. Water System
1. General. The Service District proposes to provide a water system to serve
the entire Winter Farm community. The water system will provide a potable supply for
residential, commercial, and industrial customers. Development that may be served by the
10
Service District discussed in Section IV hereof, The phasing plan for development is contained
in Figure 3.
The proposed elements of the potable water system provide a hydraulically balanced
network of transmission lines and distribution lines for the supply of treated water. All facilities
will continue to be designed and installed in accordance with applicable regulatory standards and
sound engineering judgement. The development plan for the Districts' proposed potable water
system is illustrated in Figure 4.
All major elements of the water system required for proper operation will be designed
and installed by the Service District. The system will be designed according to Windsor's
standards and will be connected to the Town's system during the construction of the "First
Phase" (see Figure 3 in the appendices for phase map). The developers of each phase of
development will be responsible for construction of the distribution lines to the development
parcels and for the service lines from distribution lines to meters. The homeowner will be
responsible for construction of the service line from the meter to the house. All individual
services will be metered. Raw water dedication requirements of the Town will be met in
accordance with current Town requirements.
2. Water Demand. Demands placed on the water system will fluctuate with
use. Potable demand will be that required to satisfy the needs of the Service District's customers
for domestic uses, landscape irrigation, and fire protection. The Service District will construct a
raw water distribution system that will reduce the amount of potable water required. By utilizing
a raw water system, the potable water demand will decrease and fire flow will become the
controlling factor in the potable system design. Raw water systems will not be conveyed to
Windsor nor become Windsor's responsibility for operations and maintenance.
Potable water system demands for domestic uses and landscape irrigation have been
estimated by applying typically accepted unit flow rates to land use designations and
demographic information established by the Service District. Calculations are presented in Table
2, in the appendices.
Potable water system demands for fire protection are based on standards currently
recommended by the Insurance Services Office (ISO) and Windsor and will be 1,500 gpm.
Annual projections of the Districts' potable water system demands have been prepared.
The results are presented in Table 3. However, the Service District intends to review actual
usage and adjust actual water requirements as required. Service District will also install, operate,
and maintain a separate raw water line for irrigation purposes.
3. Water Transmission. The Service District's potable water transmission
system will collect potable water from Windsor's transmission lines, and will transport the
treated water in a network that is accessible by each development parcel. The transmission lines
will be sized to deliver either the maximum day demand, plus fire flow or the peak hour demand,
as appropriate. The potable water system will be dedicated to the Town after it is accepted by
the Town.
11
4. Water Storage. Additional storage facilities may be required. If needed,
the storage facility is expected to be built in conjunction with Windsor's existing water storage
tank and future water pressure zones. An investigation will need to be made to determine the
additional amount of storage that may be required.
5. Water Distribution. The Service District's water system will provide
treated water through a network of transmission and distribution lines. Distribution lines will be
sized to maintain 50 psi during peak hour demands and 25 psi during maximum day demand
with an appropriate superimposed fire flow. All lines are to be looped where practical to
maximize capacity and improve circulation. Fire hydrants will be required throughout the
transmission and distribution system. If any development is proposed at an elevation greater
than 4,818 feet above mean sea level, it will need to be evaluated to determine operating
pressures since 4,818 feet is the limit of Windsor's pressure zone.
6. Raw Water. A plan for distribution of raw water is illustrated in Figure 5.
D. Wastewater System
1. General. The Service District proposes to provide a wastewater collection
system to serve Winter Farm. The proposed elements of the wastewater system will provide a
network of laterals, trunk sewers, lift stations, and interceptor sewers, for the sanitary disposal of
liquid borne wastes. All facilities will be designed and installed in accordance with applicable
regulatory standards and sound engineering judgement. The development plan for the proposed
wastewater collection system is illustrated in Figure 6.
All major elements of the wastewater collection system required for proper operation will
be designed, and installed by the Service District. Individual developers will be responsible for
the trunk sewers which serve each development parcel, and for the service laterals extended from
the trunk lines to each property.
2. Wastewater Flows. Wastewater flows generated by the Service District's
customers will fluctuate with use. Flows determined in this section are from residential,
industrial, and commercial sources. These flows have been estimated by applying typically
accepted unit flow rates to the land use designations and demographic information established in
the Master Use Plan. Calculations are shown in Table 4.
Annual projections of the Districts' wastewater flow have been prepared. The results are
presented in Table 5. However, the Districts intend to review actual wastewater flows and adjust
the annual projections as required.
3. Wastewater Collection. The Service District's wastewater collection
system will collect sanitary sewage generated by customers and convey it to Windsor's regional
wastewater treatment plant. Laterals will be located in the streets, along back lot lines, and in
utility easements to serve the Service District's customers. The wastewater collection system
will be dedicated to the Town after it is accepted by the Town.
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E. Street System and Traffic Safety
1. General. The Service District proposes to construct a street system to
serve all of Winter Farm. The existing and proposed elements of the street system will provide a
network of collector and major collector streets to serve the flow of traffic within the Districts.
All facilities will be designed and installed in accordance with applicable regulatory standards
and sound engineering judgement. The development plan for the proposed street system is
illustrated in Figure 7.
2. Streets. The Service District will design and construct all streets shown in
Figure 7 in the appendices. Local public streets in individual residential parcels will be designed
to Town standards and constructed by individual developers. All streets will be designed and
constructed to meet the minimum standards presented in Table 6. Street sections are shown in
Figure 8. Traffic controls and signage will be provided along streets to enhance the flow of
traffic within the project. Streetlights will be installed by the Service District along collector
roadways. Lighting of local roadways will be the responsibility of the individual developers of
the residential parcels.
3. Landscaping. Landscaping may be installed by the Service District along
the roadway rights-of-way and trail easements. The Service District also intends to install and
maintain landscaped highlights along the internal streets and entry features at major entrances.
Additional features may be installed and maintained by the developers of the individual parcels.
The Districts shall also install landscaping along public right-of-ways as required by the Windsor
Municipal Code.
4. Signals and Signage. Signals and signage will be installed by the Service
District as required by traffic studies, the Service District's Rules and Regulations, and by
Windsor.
5. Offsite Improvements. The Districts shall be responsible for participation
in sharing the costs for public offsite infrastructure improvements benefiting the taxpayers and
residents of the Districts.
F. Storm Drainage
1. General. The Service District plans to install the necessary storm drainage
system to serve Winter Farm. The proposed elements of the storm drainage system will provide
a network of swales and channels, culverts, detention ponds, and curb and gutter designed and
installed in accordance with the Service District's Master Drainage Study, applicable regulatory
standards and sound engineering judgement. The development plan for the proposed storm
drainage system within the project is illustrated in Figure 9.
The Service District will design and install all storm drainage improvements except for
specific improvements within individual development parcels that will be designed and installed
by individual developers.
13
2. Swale and Channel Improvements. Storm water will be routed through
Winter Farm by a network of pipes and channels The storm drainage system will be designed
for the 100-year event. The Service District intends to fund the majority of swale and channel
improvements required as a part of the master drainage system.
3. Culverts. Culverts will be installed under all roadways that intersect storm
drainage channels. Culverts will be designed to pass flows as required by the Master Drainage
Study and may include headwalls, wing walls, inlet structures, and riprap protection to enhance
their hydraulic capacity and reduce bank or channel erosion.
4. Detention Storage. An overall drainage plan will be developed that will
identify the major facilities necessary to convey the storm runoff from Winter Farm. This plan
will include all infrastructure required to convey the flows generated within Winter Farm as well
as offsite flows. This plan must maintain the flexibility to modify the major drainage facilities as
more detailed information is generated during the design of the individual phases. The overall
drainage plan will include the utilization of storm sewers, swales, drainage channels, streets,
gutters, culverts and detention facilities. To limit the cost of the drainage infrastructure, an
optimization study will be completed to ensure that the most cost-effective solution is identified.
G. Park and Recreation
All park and recreational facilities and/or services will be constructed in accordance with
plans and specifications approved by Windsor. All park and recreational facilities will be
constructed in accordance with engineering and design requirements appropriate for the
surrounding terrain, and all such facilities shall be compatible with Windsor's standards. Any
design, construction and/or dedication of park and recreation facilities shall be in accordance
with (a) all requirements of the Windsor Parks and Recreation Master Plan and the Windsor
Municipal Code and (b) all of the terms and conditions of the annexation agreement between
Windsor and Winter Farm Development, LLC.
H. Transportation
The Service District contemplates that at some future date it may be prudent to participate
in a public transit system in the Weld County area. The Service District may, at the appropriate
time, fund studies or improvements that are intended to provide mass transit for the population
within Winter Farm.
I. Mosquito Control
The Service District contemplates that at some future date it may be prudent to participate
in a mosquito control program in the area. The Service District may, at the appropriate time,
fund studies or improvements that are intended to provide mosquito control within Winter Farm.
14
J. Estimated Cost of Facilities
The estimated cost of the facilities to be constructed, installed and/or acquired by the
Service District are shown in Table 7.
IV. DEVELOPMENT PROJECTIONS
Land use within the project will be residential and commercial, as set forth in Tables 1
and IA.
V. PROPOSED AND EXISTING AGREEMENTS
A. Master Intergovernmental Agreements
As noted in this Service Plan, the relationship between the Service District and Financing
Districts, including the means for approving, financing, constructing, and operating the public
services and improvements needed to serve Winter Farm has been established by means of the
Master IGA executed by the Districts. The Master IGA establishes extensive procedures and
standards for the approval of the design of facilities, transfer of funds between the Districts, and
operation and maintenance of the facilities. The Master IGA also provides for coordinated
administration of management services for the Districts. A copy of the current form of the
Master IGA is on file in the Districts' offices.
B. Town IGA
Windsor and the Service District will enter into an IGA ("Town IGA") regarding the
nature of the relationship between the Service District and Windsor, and setting forth various
procedures and agreements regarding the construction, ownership, operation and maintenance of
improvements constructed by the Service District. Including the phasing of construction,
requirements for dedication of improvements and review and approval procedures.
C. Other Agreements/Authority
To the extent practicable, the Service District may enter into additional intergovernmental
and private agreements to better ensure long-term provision of the improvements and services
and effective management. Agreements may also be executed with property owner associations
and other service providers. All such agreements are authorized to be provided by each,
pursuant to Colorado Constitution, Article XIV, Section 18(2)(a) and Section 29-1-201, et seq.,
Colorado Revised Statutes.
15
VI. OPERATION AND MAINTENANCE COSTS
Estimated costs for operation and maintenance functions are presented in Table 8.
Additionally, the Service District will impose a system of tap and user service charges. The
estimated revenues from such fees and charges are reflected in the Financing Plan discussed in
the following section.
VII. FINANCIAL PLAN
Attached to this Service Plan as Exhibit B is a preliminary Financing Plan which shows
how the proposed services and facilities may be financed and operated by the Districts. The
Financing Plan include the proposed operating revenue derived from ad valorem property taxes
for the first budget year, and thereafter, to be used by the Service District. The Master IGA
provides that the obligation of the Financing Districts to pay the Service District for operating
expenses incurred for provision of services to property within the Financing Districts shall
constitute "debt" of the Financing Districts. Accordingly, mill levies certified to make necessary
payments to the Service District are characterized as debt service mill levies notwithstanding that
they are imposed to pay contractual obligations for operations and maintenance services
provided by the Service District. The Service District has borrowed its initial operating funds
from private entities to be repaid after it is able to generate operating revenues from the
Financing Districts.
The Financing Plan identifies the proposed debt issuance schedules of the Service District
and Financing Districts and show how the financial operations of the Districts are being
coordinated. The Financing Districts are expected to issue general obligation debt supported by
ad valorem mill levies. This mechanism will help assure the transition of appropriate tax
revenue to the payment of debt issued to provide services for Winter Farm. It is presently
anticipated that the Service District will issue revenue bonds secured by the developer and by
financial commitments received from the Financing Districts. Other structures may be used.
The Districts shall be entitled to modify the proposed structure of the Financing Plan by
causing the Service District to obtain funding directly from the Developer, its lender, or assigns
of Developer, provided that all such borrowing shall comply with the requirements of state law
regarding limitations on the amount of general obligation debt which may be issued For
example, the Service District shall be entitled to obtain funding from the Developer rather than
issuing revenue bonds and agree to repay the Developer from revenue sources which the Service
District might otherwise become entitled pursuant to the Master IGA or other agreements. The
Districts shall also be entitled to issue contingent repayment obligations in amounts which
exceed the estimated general obligation debt estimated in this Service Plan on condition that the
provisions of such contingent repayment obligations are in compliance with state law and are
subject to the limitations of state law regarding the limitations on issuance of general obligation
debt. The Districts shall have the ability to utilize excess debt capacity, which may be developed
within the Districts if the assumptions contained in the Financing Plan are more conservative
than what actually develops within Winter Farm.
16
The balance of the information contained in this section of this Service Plan is
preliminary in nature. All dollars are stated in 2000, uninflated dollars. Upon approval of this
Service Plan, the Districts will continue to develop and refine cost estimates contained herein
and prepare for bond issuance. All cost estimates will be inflated to current dollars at the time of
bond issuance and construction. Engineering and other contingencies, as well as capitalized
interest and other costs of financing will be added. All construction cost estimates assume
construction to applicable local, state or federal requirements.
The maximum general obligation bonded indebtedness for the Financing Districts is not
expected to exceed $10,000,000 (in 2000 dollars) exclusive of costs of issuance, inflation,
contingencies and other similar costs. Actual costs are anticipated to be approximately
$7,237,269. Contractual general obligation debt of the Districts shall not count against any
bonded debt limitation or restriction on the Districts. Further, the obligations of the Districts
pursuant to any "Master" IGA between the Districts shall not count against any bonded debt
limitation or restriction on the Districts. The Districts shall have authority to finance and
construct all facilities contemplated herein without the need to seek approval of any modification
of this Service Plan. The Districts shall also be permitted to seek debt authorization from their
electorates in excess of this amount to account for contingencies. Reasonable modifications of
facilities and cost estimates shall likewise be permitted. Final determination of the amount of
debt for which approval will be sought from each District's electorate from time to time will be
made by the Board of Directors of each District based on then-current estimates of construction
costs, issuance costs, and contingencies. Authorization to issue bonds and enter into various
agreements described herein will be sought from each District's electorate pursuant to the terms
of the Special District Act, and the Colorado Constitution as amended from time to time.
In addition to ad valorem property taxes, and in order to offset the expenses of the
anticipated construction and the Service District's operations and maintenance costs, the Districts
will also rely upon various other revenue sources authorized by law. These will include the
power to assess fees, rates, tolls, penalties, or charges as provided in § 32-1-1001(1), C.R.S., as
amended. The Financing Plan assumes various sources of revenue, including ad valorem
property taxes, specific ownership taxes, tap fees, and user charges, together with interest
earnings on retained amounts. It is anticipated that a tiered system of user charges will be
established.
The Financing Plan does not project any significant accumulation of fund balances that
might represent receipt of revenues in excess of expenditures under the TABOR Amendment. It
is anticipated that the operations of the Service District will qualify as "enterprises" under the
TABOR Amendment. If its operations do not qualify as enterprises under TABOR, revenues
from all sources that exceed the permitted level of expenditures in a given year will be refunded
to taxpayers, unless a vote approving the retention of such revenues is obtained. To the extent
annual district revenues exceed expenditures in this manner, the Districts will comply with the
provisions of TABOR and either refund the excess or obtain voter approval to retain such
amounts.
The estimated costs of the facilities and improvements to be constructed and installed by
the Districts, including the costs of acquisition of land, and engineering services, legal services,
administrative services, initial proposed indebtedness, and other major expenses related to the
17
facilities and improvements to be constructed and installed, are set forth in Tables 7 and 8 of the
Service Plan, and are not expected to exceed $100,000 initially. Organizational costs will be
reimbursed to the developer by the Districts out of their initial revenue sources including bond
issue proceeds.
The maximum voted interest rate for bonds will be 18%. The proposed maximum
underwriting discount will be 5%. It is estimated that the general obligation bonds, when issued,
will mature not more than forty(40) years from date of issuance.
In the discretion of the Boards of Directors, the Districts may set up other qualifying
entities to manage, fund, construct and operate facilities, services, and programs. To the extent
allowed by law, any entity created by the Districts will remain under the control of its Board of
Directors.
The Financing Plan demonstrates that each District will have the financial capability to
discharge the proposed indebtedness with reasonable mill levies assuming reasonable increases
in assessed valuation and assuming the rate of build-out estimated in the Financing Plan.
VIII. OTHER REQUIREMENTS
The Financing Districts and Service District shall continue to be subject to the following
additional requirements:
1. Submission of annual reports as described in § 32-1-207(3), C.R.S., in the form
prescribed by Windsor.
2. Material modifications of this Service Plan, except as contemplated herein, shall
be subject to approval by Windsor in accordance with the provisions of§ 32-1-207, C.R.S.
IX. CONCLUSIONS
It is submitted that this Consolidated Service Plan for, Winter Farm Metropolitan District
Nos. 1-3 as required by § 32-1-203(2), C.R.S., has established that:
(a) There is sufficient existing and projected need for organized service in the
area to be served by the Districts;
(b) The existing service in the area to be served by the Districts is inadequate
for present and projected needs;
(c) The Districts are capable of providing economical and sufficient service to
the area within their boundaries;
18
(d) The area included in the Districts does have, and will have, the financial
ability to discharge the proposed indebtedness on a reasonable basis;
(e) Adequate service is not, and will not be, available to the area through
Windsor, or other existing municipal or quasi-municipal corporations, including existing special
districts, within a reasonable time and on a comparable basis;
(f) The facility and service standards of the Districts are compatible with the
facility and service standards of Windsor within which the Districts are to be located and each
municipality which is an interested party under § 32-1-204(1), C.R.S.;
(g) The proposal is in substantial compliance with a master plan adopted
pursuant to § 30-28-108, C.R.S.;
(h) The proposal is in compliance with any duly adopted county, regional, or
state long-range water quality management plan for the area; and
(i) The ongoing existence of the Districts is in the best interests of the area
proposed to be served.
Therefore, it is requested that the Board of Trustees of Windsor, Colorado, which has jurisdiction
to approve this Service Plan by virtue of §§ 32-1-204.5,.C.R.S., et seq., as amended, adopt a
resolution which approves this "Consolidated Service Plan for Winter Farm Metropolitan District
Nos. 1-3," as submitted.
Respectfully submitted,
WHITE AND ASSOCIATES
Professional Corporation
J,C ( 'z'C ///'�
George M. Rowley
Counsel to Proponents of the Districts
W F M D'S p Ian,G.MR 140004'000
054]0003
19
EXHIBIT A
Legal Descriptions of Districts
LEGAL DESCRIPTION
METROPOLITAN DISTRICT#1
A parcel of land located in the west half of section 15, T6N, R67W of the Sixth Principal
Meridian; County of Weld, State of Colorado; and being more particularly described as
follows:
Considering the west line of the north half of the southwest quarter of said section 15 as
bearing north 00°00'03" east as shown on land survey plat by Larry Intermill, LS12374,
recorded August 5, 1998 at reception number 2630923, with all bearings contained herein
relative thereto:
Commencing at the north quarter corner of said section 15;
Thence S00°02'35"E, 762.86 feet to the point of beginning.
Thence continuing along a line S00°02'35"E, 403.75 feet;
Thence S88°33'58"W, 554.85 feet;
Thence N00°02'35"W, 380.97 feet;
Thence N86°13'11"E, 555.86 feet to the point of beginning.
Said described land contains 5.00 acres more or less and is subject to any conditions,
rights-of-way or easements of record, or that as now exist on the ground.
LEGAL DESCRIPTION
METROPOLITAN DISTRICT #2
A parcel of land located in the West Half(W 1/2) of Section 15, Township 6 North (T6N),
Range Sixty-seven West (R67W) of the Sixth Principal Meridian (6th P.M.), County of
Weld, State of Colorado, and being more particularly described as follows:
Considering the West Line of the North Half of the Southwest Quarter of said Section 15
as bearing North 00°00'03" East as shown on land survey plat by Larry Intermill,
LS12374, recorded August 5, 1998 at reception number 2630923, with all other bearings
contained herein relative thereto:
Beginning at the Southwest Corner of the Northwest Quarter of the Southwest Quarter of
said Section 15;
Thence along the westerly line of said Northwest Quarter of the Southwest Quarter of
Section 15, North 00°00'03" East, 1321.34 feet to the West Quarter Corner of said
Section 15;
Thence continuing along the westerly line of said Section 15, North 00°00'08" East,
2582.42 feet;
Thence along a line parallel to and 60 feet southerly of the North Line of said Section 15
North 89°14'16" East, 1306.64 feet;
Thence South 14°44'54" West, 44.56 feet;
Thence South 00°20'34" West, 331.10 feet;
Thence South 10°28'30" East, 22.18 feet;
Thence South 26°13'11" East, 16.48 feet;
Thence South 34°17'51" East, 279.12 feet;
Thence South 41°55'20" East, 21.89 feet;
Thence South 63°15'30" East, 19.82 feet;
Thence South 69°01'53" East, 109.63 feet;
Thence South 77°56'28" East, 34.25 feet;
Thence South 82°42'52" East, 103.44 feet;
Thence North 24°08'50" East, 63.89 feet;
Thence South 78°03'07" East, 257.23 feet;
Thence South 88°26'44" East, 42.93 feet;
Thence South 00°02'35" East, 380.97 feet,
Thence North 88°33'58" East, 554.85 feet, to a point on the East Line of the Northwest
Quarter of said Section 15;
Thence along said East Line South 00°02'35" East, 1471.9 feet to the Center Quarter of
said Section 15;
Thence South 00°02'38" East, 1317.59 feet to the Center South Sixteenth Corner of said
Section 15;
Thence South 89°04'13" West, 2610.83 feet to the Point of Beginning.
Said described land contains 209.71 acres more or less and is subject to any conditions,
rights-of-way or easements of record or that as now exist on the ground.
•
• LEGAL DESCRIPTION
METROPOLITAN DISTRICT 003
A parcel of land located in the west half of section 15,T6N, R67W of the Sixth Principal
Meridian; County of Weld, State of Colorado; and being more particularly described as
follows:
Considering the west line of the north half of the southwest quarter of said section 15 as
bearing north 00°00'03" east as shown on land survey plat by Larry Internvll,LS 12374,
recorded August 5, 1998 at reception number 2630923, with all bearings contained herein
relative thereto:
Commencing at the south sixteenth corner of sections 15 and 16;
Thence N89°04'13"E, 831.27 feet along the north line of the Windsor Industrial Park
Annexation to the point of beginning.
•
Thence SCO°20'49"E, 1220.27 feet
Thence along the apparent North Right-of-Way Line of Colorado State Highway 392,
N88°59'06"E, 815.38 feet;
ThenceN00°20'05"E, 1219.05 feet;
Thence 589°04'13"W, 815.09 feet to the point of beginning;
Said described land contains 24.04 acres more or less and is subject to any conditions,
rights-of—way or easements of record. or that as now exist on the round.
EXHIBIT B
Financing Plan
JUL 31 '00 12:4EPM STAN BERNSTEIN&ASSOC P 2
Stan Bernstein and Associates, Inc.
Financial Planners and Consultants
For Local Governments, Municipal Bond Underwriters, and Real Estate Developers
707 Seventeenth Street, Suite 2900
Denver, Colorado 80202
Telephone 303-291-0495; Fa 303-291-0625; Email stanplan@earthlinknet
July 31, 2000
Mr. Richard Bacon
Vector Properties, LLC
Winter Farm Development LLC
1268 Northride Court
Golden, Colorado 80401
RE: WINTER FARM METROPOLITAN DISTRICT # 1 (SERVICE DISTRICT)
FINANCING PLAN—Draft#3
Dear Dick:
Enclosed is the third draft Cash Flow Forecast(the"Financing Plan") for the Winter
Farm Metropolitan District # 2 ("Service District").
This Financing Plan is relatively complicated if you are not used to this type of financing
concept(i.e., the Service District issuing developer fill-up notes which are ultimately
redeemed from the issuance of general obligation bonds from the Winter Farm
Metropolitan District#2 and #3 [the "Financing Districts"]). The following paragraphs
will help readers of this report to more easily understand the Financing Plan.
Exhibit I (page 1) sets forth the forecasted cash flow of the Service District. The Service
District has as its only pure source of revenue (A) "System Development Fees" which are
initially assumed to be $2,500 for residential units and (B) "Raw Water User Fees" which
are initially assumed to be $200 annually per residence. Based upon 635 residential
units, system development fee revenues are forecasted to generate $1,587,500, and raw
water user fees are forecasted to generate $127,000 annually at full-buildout. The
Service District is expected to also receive property tax revenues transferred from Winter
Farm Metropolitan Districts #2 and #3 — the basis of these property tax transfers (i.e., the
assessed valuation and the mill levy estimated to be 4.00 mills) are presented in Note 1, at
the table at the bottom of Exhibit I.
_LA. d1 '00 10:40PM STAN BERNSTEIN&ASSOC P.3
•
Mr. Richard Bacon
July 31,2000
Page 2
Based upon information received from TST Consulting Engineers,the Service District's
capital improvement(infrastructure)requirements are forecasted to be as follows (see
Schedule 1,page 2):
• Phase 1 (2001) $3,781,221
• Phase 2 (2003) $ 408,557
• Phase 3 (2005) $3,110,471
The Service District is projected to issue developer fill-up notes (as set forth on Schedule
2,page 3) in amount of$4,915,500 in exchange for contributing capital or capital
improvements to the Service District relating to Phase I - III capital improvements. While
I have shown interest on these fill-up notes at a 9.00% rate, from a practical perspective it
does not appear that the Service District will be in a financial position to pay any interest
on the fill-up notes. It does appear, however, that the principal on the fill-up notes could
be paid (A) from the net proceeds of general obligation bonds expected to be issued by
Winter Farm Metropolitan Districts #2 and#3 in years 2004 ($1,152,000 of net bond
proceeds) and in 2007 ($2,376,000 of net bond proceeds), and (B) from$1,387,500 of
irrigation system development fee revenues. It appears that approximately 75% of Phase
III developer capital improvement costs will not be able to be recouped from the Winter
Farm Metropolitan Districts.
According to TST, Inc. the District's consulting engineers, operating costs for the Service
District will initially be $45,000 during 2002 and increase by 6% annually (excluding
inflation). Administrative costs have been estimated as shown on Exhibit I and represent
allowances for basic administrative Service District costs. It is expected that operating
and administrative costs will be funded from approximately$200,000 of system
development fee revenues, raw water user fee revenues, and from a 4.00 mill property tax
transfer from Winter Farm Metropolitan Districts #2 and #3.
This Financing Plan has been assembled by Stan Bernstein and Associates, Inc. based
upon information and assumptions provided by TST, Inc. and from Winter Farm
Development LLC. The Financing Plan is extremely sensitive to the assumed rate of
residential and commercial real estate buildout. To the extent that buildout rates exceed,
or do not meet, the rates assumed on Schedule 1 of the Winter Farm Metropolitan
Districts #2 and#3 Financing Plan, the forecasted fund balances at the end of any year,
or the timing or the amount of fill-up notes that could be repaid, could vary significantly
from the amounts forecasted as set forth on Exhibit I and such variation could be
material.
'L0U 14±t1 5 i f;N bLAMS ElN&ASSCC P.4
Mr. Richard Bacon
July 31, 2000
Page 3
The scope of Stan Bernstein and Associates, Inc. engagement was limited to assembling
the Financing Plan based on information provided by others. Stan Bernstein and
Associates, Inc. engagement did not include any independent examination,review, audit,
or any other type of verification of the assumed rate of residential or commercial real
estate buildout, or any of the other assumptions contained in the Financing Plan.
Consequently, Stan Bernstein and Associates, Inc. disclaims any opinion with respect to
the achievability of the assumed rate of real estate buildout, mill levy rates, repayment of
fill-up notes, or the results as set forth in the Financing Plan.
The Financing Plan presents the Service District's best estimate of assumptions as of July
31, 2000. Because the Financing Plan is predicated upon the occurrence of future events,
which are inherently subject to change and variation, some of the assumptions upon
which the Financing Plan is based will not occur; consequently, the actual amounts may
vary significantly from the forecasted amounts and such variations may be material.
Very truly yours,
5 a Bernstein and Associates, Inc.
CC: Don Taranto, P.E.
George M. Rowley, Esq.
EXHIBIT I
WINTER FARMS METROPOLITAN DISTRICT01 PRELIMINARY DRAFT,JULY 31,2000
FORECASTED REVENUES,EXPENDITURES,AND FUND BALANCES SUBJECT TO CHANGE AND REVISION
FOR THE YEARS ENDING DECEMBER 31,2001 THROUGH 2010
UNINFLATED•82000
DESCT RIPNIO SCH,/ 200j 2002 1003 isigA 1005 7000 2007 261 2000 2010 2011 2012
REVENUES:
PROPERTY TAX REVENUES(NO AV.ASSUMED) 0 0 0 0 0 0 0 0 0 0 0 0
SYSTEM DEVELOPMENT FEES O$2,500 PER RES.-PERTST 0 200,000 197,500 200,000 197,500 100,000 197.500 197,500 197.500 0 0 0
RAW WATER USER FEES g 8200'YR PER RES.-PER TST 0 0 16,000 31,800 47.800 63,800 79.600 95,403 111,203 127,000 127,000 127.000
PROPERTY TAX TRANSFERS FROM WFM001 0 800 1.200 6.070 12,089 18,187 24.904 32.431 39.893 46.629 52,641 51,641
TRANSFER OF NET O.O.BOND PROCEEDS WFM011 0 0 0 1,152,000 0 a 2,370,000 0 0 0 0 a
DEVELOPER ADVANCES-FILL UP NOTE 3,718,211 0 408,577 0 780.702 0 0 0 0 0 0 0
DEVELOPER CONTRIBUTION FOR CAPITAL IMPROVEMENTS 0 0 0 0 2.321.769 0 0 0 0 0 0 0
DEVELOPER ADVANCES (REPAYMENTS)-OPERATIONS 75,000 0 0 0 0 0 0 0 0 (75.000) 0 a
INTEREST EARNINGS.5%OF BEGINNING FUN05 0 1550 7,133 3 945 1.551 554 512 7118 1593 2220 590 2112
TOTAL REVENUES J 70. 3.221 202.150 63010 139. 3.823 3,369,412 2Q2 321 2,078 516 326.046 :740.906 100 959 100 231. 105351
OPERATE.°it ADMIMSTRATNE EXPENDITURES:
ACCOUNTING AND AUDIT 3,000 0,500 6,500 6,500 6,500 6,500 8,500 8500 0,500 6.500 6,500 6,500
LEGAL AND PROFESSIONAL 35,000 25.000 25,000 25,000 15,000 15.000 15,000 15000 15,000 15,000 15,000 15,000
INSURANCE 3,000 3,000 3,000 3,000 3,000 3,000 3000 3,000 3,000 3,000 3,000 3.000
MISC.OFFICE 2000 2.000 2,000 2.000 2.000 2.000 2,000 2.000 2.000 2,000 2,000 2,000
RAW WATER SYSEM.PER TST 0 45.000 48,575 48,205 49,092 51,639 53.446 55.318 57.253 59,258 81.330 63,477
CONTINGENCY
$,00 SOW 5OO5 $.000 1,390 3130 5940 50,000 50,000 35.750 50000 39,977
TOTAL OPERATING 41)_, 00 71NOd AOMINSTRATNE86.500 86,075 89.705 81,392 03,139 04,940 731,010 )33,75) 135 758 MEN 139,977
CAPITAL IMPROVEMENTS•PERTSY 1 3718221 0 400 577 D 3,110,471 0 Q 0 0 0 0 2
PAYMENTS ON FILL UP NOTES 2 0 0 197_50 1,352 900 19_ 500 200 0 090 2,573,500 197 500 197`500 0 0 0
TOTAL EXPENDITURES 3156 221 88,50 691.152 1.441.705 338. 9354 203 130 2,650,14E 320,316 331 751 135,750 137,830 ylv_9?7
EXCESS REVENUES OVER EXPENDITURES 17.000 11565D (63,7431 (17,602) (19,9521 (010) 20,070 (2469) 1818133 (34 797) 42,40 42374
BEGINNING FUNDS AVAILABLE-JANUARY 1 0 27000 1420, 78.906 31026 11,074 1 250 30,328 29658 48,591 11.793 54194
ENDING FINDS AVAMSLE-DECEMBER 31 27,000 142650 x-900 31,028 11,Q_74 10,256 ,14,326 27,058 5§,501 1193 54.191 96_677
TOTAL FILL UP NOTES OUTSTANDING g 12131 2 2,710,221 3 718,221 3,520,721 2,168,721. 1.971.221 1,771221 0 0 0 0 0 0
NOTE 1:PROPERTY TAX TRANSFER FROM WFMD02 6 03
IS CALCULATED AS FOLLOWS:
ASSESSED VALUEWFMO82 IL R3 0 100,00 300.000 1,519.440 3,022.322 4,541.782 6,225,894 8,107,034 9913,116 11657,348 13,160,230 13,160,230
WFMD 0280 ASSUMED MRL LEVY 00 3000 30.0 30.00 30.00 3000 30.00 3000 3000 3000 3000 30.00
WFW II ASSUMED MILL LEVY TRANSFER EOUN. 0 00 4.00 400 4.00 4.00 4 0 400 400 4.00 4.00 4.00 4.00
PROPERTY TAXES TRANSFERRED FROM WFMO02 a 03 0 800 1,200 6578 12,089 1087 24 904 32 431 39893 4829 52 641 aku
SEE CONSULTANTS REPORT AND DISCLAIMER
PAGE I
•
500001501(12000 As 07/31/200012 52 PM
EXHIBIT I
WINTER FARMS METROPOLITAN DISTRICT 11
FORECASTED REVENUES,EXPENDITURES.AND FUND BALANCES
FOR THE YEAR!ENDING DECEMBER 31,2001 THROUGH 2019
IRXNFLATED-92000
DESCRIPTION Mkt 2013 2014 2015 2016 2017 2015 2019 TOTALS
REVENUES:
PROPERTY TAX REVENUES(NO A.V.ASSUMED) O 0 0 0 O O 0 0
SYSTEM DEVELOPMENT FEES 992,500 PER RES.-PERTST 0 O 0 O 0 0 O 1,587,500
RAW WATER USER FEES 932001YR.PER RES.-PERTST 127,000 127,000 127,000 127,000 127.000 127,000 127.000 1,715,400
PROPERTY TAX TRANSFERS FROM WFTID91 52,641 52,841 52.041 52,64T 52.641 52.641 52.641 855,960
TRANSFER OF NET G.O.BOND PROCEEDS WFMD11 0 0 0 0 0 O O 3.528.000
DEVELOPER ADVANCES-FILL UP NOTE 0 O O 0 0 0 O 4915,500
DEVELOPER CONTRIBUTION FOR CAPITAL IMPROVEMENTS 0 0 O O O O O 2.321,769
DEVELOPER ADVANCES (REPAYMENTS)•OPERATIONS O 0 O O O O 0 0
INTEREST EARNINGS a 5%OF BEGINNING FUNDS 4 828 6,t12 9 040 11 137 12.204 15 256 11275 101,278
TOTAL REVENUES 101469 J10,5_1113 166.161 190,777 192 849 194.697 196,915 19 825.405
OPERATING a ADMINISTRATIVE EXPENDITURES:
ACCOUNTING AND AUDIT 6.500 6,500 6.500 6,500 8,500 6.500 0,500 120,000
LEGAL AND PROFESSIONAL 15,000 15.000 15.000 15,000 15,000 15.000 15,000 335,000
INSURANCE 3,000 3,000 3.000 3,000 3.000 3,000 3,000 57,000
MISC.OFFICE 2.000 2,000 2,000 2,000 2,000 2.000 2.000 36.000
RAW WATER SYSEM-PER TST 65,699 67.996 10.376 72641 75.301 78,029 80,760 1,102 486
CONTINGENCY 500 5OOOO 50,000 50000 SO Ogg 50.000 50000 035000
TOTAL OPERATING a ADMINISTRATIVE 142.11! _144`98 actin S1p mpa 151 91 15529 164,760 2 267,460
CAPITAL IMPROVEMENTS-PERTST 1 0 0 0 Q 0 O O 7 237 269
PAYMENTS ON FILL UP NOTES 2 9 0 O O O O 0 s 919 500
TOTAL EXPENOITUIES 142,199 14"1A00 j4§,676 149.341 1&-091 152_,1 520 15L26O I4 e925,1
EXCESS REVENUES OVER EXPENDITURES 422T1 4285 41,609 41_36 40859 40,300 39855 38515O
BEGINNING FUNDS AVAILABLE-JANUARY I 96.587 130,035 160,913 222,732 264166 305.128 345.4% O
ENDING FUNDS AVAILABLE-DECEMBER 31 138 836 160.923 222.732 264 188 305 120 345,494 385 1;A 365,150
TOTAL FILLIP NOTES OUTSTANDING @12731 1 0 O 0 0 O 0 0 O
NOTE 1:PROPERTY TAX TRANSFER FROM WFMOR a N
IS CALCULATED AS FOLLOWS:
ASSESSED VALUE WFMD 9T an 13,180,230 13,160.230 13,160,230 13.160,23O 13,160,230 13,160.230 13,160,230 13,160,230
WFMD 02603 ASSUMED MILL LEVY 3OOO 30.00 30.00 3OOO 3000 3OOO 3000 30.00
WFMD S1 ASSUMED MILL LEVY'TRANSFER EOUIV. 400 100 4.00 4.00 4.00 4 00 4 OO 4 OO
PROPERTY TAXES TRANSFERRED FROM WFMD12 a I3 52 641 S1.B/1 52,641 5LM11 52 641 52_41 52 841 52 611
SEE CONSULTANT'S REPORT AND DISCLAIMER
PAGE 1A
1.1•1700.0002000.0i 07131/200012'.52 FM
SCHEDULE I
WINTER FARMS METROPOLITAN DISTRICT Al PRELIMINARY DRAFT,JULY 31, 2000
CAPITAL IMPROVEMENTS SUBJECT TO CHANGE AND REVISION
FOR THE YEARS ENDING DECEMBER 31,2001 THROUGH 2010
UNINFLATED-$2000
2001 2002 2003 2004 2006 2006 2007 2008 2009
CAPITAL IMPROVEMENTS
SANITARY SEWER SYSTEM 695,200 0 0 0 204,800 0 0 0 0
POTABLE WATER LINE 222,620 0 86,690 120,470 0 0 0 0
STREET SYSTEM 1,095,100 0 200,200 0 707,500 0 0 0 0
STORM SEWER SYSTEM 371,200 0 4,000 0 309,900 0 0 0 0
PARKS AND OPEN SPACE 0 0 0 0 1,000,000 0 0 0 0
IRRIGATION WATER LINE 476.050 0 23400 0 50,000 0 0 0 0
TOTAL 2,860,170 0 314,290 0 2,392,670 0 0 0 0
CONTINGENCY,ADMINISTRATION, ENGINEERING @ 30% 858.051 0 94,287 0 717.801 0 0 0 0
TOTAL CAPITAL IMPROVEMENTS 3,718.221 0 408,577 0 3,110,471 0 0 0 0
SOURCE:TST CONSULTING ENGINEERS
PAGE 2
SEE CONSULTANTS REPORT AND DISCLAIMER
MetroDistr1ct2000.xis 07/31/200012.34 PM
SCHEDULE I
WINTER FARMS METROPOLITAN DISTRICT Al
CAPITAL IMPROVEMENTS
FOR THE YEARS ENDING DECEMBER 31,2001 THROUGH 2010
UNINFLATED-$2000
2010 TOTALS
CAPITAL IMPROVEMENTS
SANITARY SEWER SYSTEM 0 900,000
POTABLE WATER LINE 0 429,780
STREET SYSTEM 0 2,002,800
STORM SEWER SYSTEM 0 685,100
PARKS AND OPEN SPACE 0 1,000,000
IRRIGATION WATER LINE 0 549,450
TOTAL 0 5.567.130
CONTINGENCY,ADMINISTRATION,ENGINEERING @ 30% 0 1,670,139
TOTAL CAPITAL IMPROVEMENTS 0 7.237.269
SOURCE:TST CONSULTING ENGINEERS
PAGE 2A
SEE CONSULTANT'S REPORT AND DISCLAIMER
MetroDistrict2000.xls 07/31/200012:34 PM
SCHEDULE 2
WINTER FARMS METROPOLITAN DISTRICT#1 PRELIMINARY DRAFT,JULY 31,2000
FILL UP NOTES DEBT SERVICE REQUIREMENTS SUBJECT TO CHANGE AND REVISION
FOR THE YEARS ENDING DECEMBER 31,2001 THROUGH 2010
2001 2002 2003 2004 2005 2006 2007 2008 2009
DETAILED ANNUAL DEBT SERVICE REQUIREMENTS:
JUNE I,2001 PRINCIPAL&INTEREST REDEEMED 0 0 197,500 1,352,000 197,500 200,000 1,771,221 0 0
PRINCIPAL 3,718,221 0 0 0 0 0 0 0 0
INTEREST O 9.0%(INTEREST IS FORGIVEN) 167,320 334,640 334.640 316,865 195.185 177,410 159.410 0 0
TOTAL DEBT SERVICE REQUIREMENTS 167.320 334,640 532.140 1.668 865 392.685 377.410 1.930.631 0 0
PRINCIPAL OUTSTANDING O 12/31 3.718.221 3.718.221 3,520,721 2.168.721 1,971,221 1,771,221 0 0 0
JUNE 1,2003 PRINCIPAL&INTEREST REDEEMED 0 - 0 0 0 0 0 408,577 0 0
PRINCIPAL 0 0 0 0 0 0 0 0 0
INTEREST la 9.0%(INTEREST IS FORGIVEN) 0 0 18,386 36772 36,772 36,772 36772 0 0
TOTAL DEBT SERVICE REQUIREMENTS 0 0 18.386 36,772 19,772 36,772 445.349 0 0
PRINCIPAL OUTSTANDING O 12/31 0 0 408,577 408.577 4_06,577 406 577 0 0 0
JUNE 1,2005 PRINCIPALS.INTEREST REDEEMED 0 0 0 0 0 0 393,702 197,500 197,500
PRINCIPAL 0 0 0 0 0 0 0 0 0
INTEREST O 9.0%(INTEREST IS FORGIVEN) 0 0 0 0 35492 70 903 70 983 35,550 17 775
TOTAL DEBT SERVICE REQUIREMENTS 0 0 0 0 35`92 70 983 464685 233,050 215.275
PRINCIPAL OUTSTANDING @ 12/31 0 0 9 0 788.702 788,702 395,000 197.500 0
TOTAL FILL UP NOTES OUTSTAND.@ 12/31 3.718.221 3 718 221 3.929.298 2.577,298 2.379.798 2,179 798 0 0 0
SEE CONSULTANTS REPORT AND DISCLAIMER
PAGE 3
Me&ro01s171412000.s1s 07/31/200012:34 PM
SCHEDULE 2
WINTER FARMS METROPOLITAN DISTRICT II
FILL UP NOTES DEBT SERVICE REQUIREMENTS
FOR THE YEARS ENDING DECEMBER 31,2001 THROUGH 2010
2010 _B_31Aisa
DETAILED ANNUAL.DEBT SERVICE REQUIREMENTS:
JUNE 1,2001 PRINCIPAL&INTEREST REDEEMED 0 3,718,221
PRINCIPAL 0 0
INTEREST 9.0%(INTEREST IS FORGIVEN) 0 1,685.469
TOTAL DEBT SERVICE REQUIREMENTS 0 5,403,690
PRINCIPAL OUTSTANDING @ 12/31 0 0
JUNE 1,2003 PRINCIPAL&INTEREST REDEEMED 0 408,577
PRINCIPAL 0 0
INTEREST @ 9.0%(INTEREST IS FORGIVEN) 0 165.474
TOTAL DEBT SERVICE REQUIREMENTS 0 574.051
PRINCIPAL OUTSTANDING @ 12/31 0 0
JUNE I,2005 PRINCIPAL&INTEREST REDEEMED 0 788,702
PRINCIPAL 0 O
INTEREST @ 9.0%(INTEREST IS FORGIVEN) 0 230.783
TOTAL DEBT SERVICE REQUIREMENTS 0 1,019 485
PRINCIPAL OUTSTANDING @ 12/31 0 0
TOTAL FILL UP NOTES OUTSTAND.@ 12131 0 0
SEE CONSULTANT'S REPORT AND DISCLAIMER
PAGE 3A
McIroDIstrIct2000.*IS 07/31/200012 34 PM
Stan Bernstein and Associates, Inc.
Financial Planners and Consultants
For Local Governments, Municipal Bond Underwriters, and Real Estate Developers
707 Seventeenth Street, Suite 2900
Denver, Colorado 80202
Telephone 303-291-0495; Fax 303-291-0625; Email stanplan@earthlinknet
July 31,2000
Mr. Richard Bacon
Vector Properties, LLC
Winter Farm Development LLC
1268 Northride Court
Golden, Colorado 80401
RE: WINTER FARM METROPOLITAN DISTRICTS #2 & #3 (COMBINED
FINANCING DISTRICTS) FINANCING PLAN—Draft#3
Dear Dick:
Enclosed is the third draft Cash Flow Forecast(the "Financing Plan") for Winter Farm
Metropolitan Districts #2 and #3 ("Combined Financing Districts").
This Financing Plan is relatively complicated if you are not used to this type of financing
concept(i.e., the Financing Districts [Winter Farm Metropolitan Districts #2 and#3]
issuing general obligation bonds that are used for the purpose of redeeming developer
fill-up notes which are expected to be issued by Winter Farm Metropolitan District#1
[the "Service District"]). The following paragraphs will help readers of this report to
more easily understand the Financing Plan.
Exhibit I (page 1) presents the forecasted cash flow of the Financing Districts on a
combined basis. The Financing Districts are estimated to include an estimated 635
residential living units with an assumed average market value of$195,000 (2000 current
dollars), and 30,000 square feet of commercialloffice space with an assumed average
value per square foot of$125.00. Based upon the assumed rate of real estate buildout as
presented on Schedule 1 (page 2), assessed value within the boundaries of the Financing
Districts is projected to increase to approximately $13.16 million when full buildout
occurs. Based upon the Financing Districts levying 30.00 mills beginning for tax
collection year 2002 (of which approximately 4.00 mills will be transferred to the Service
District to pay for a portion of the projected operating and administrative expenditures, it
appears that the Financing Districts could afford to issue approximately$3.675 million of
general obligation bonds based on an assumed 7.5% average annual interest rate and
twenty-five year serial maturities.
_ LOJ 51r4N cERHSJELN&nS'S(X
Mr. Richard Bacon
July 31,2000
Page 2
The Financing Plan indicates that, based on the projected assessed valuation buildup,
approximately$1.20 million of general obligation bonds could be issued on, or about,
December 1, 2004; and$2.475 million could be issued on, or about, December 1, 2007.
As described in the above paragraph,such general obligation bond proceeds are expected
to be transferred to the Service District and used to redeem developer fill-up notes.
This Financing Plan has been assembled by Stan Bernstein and Associates, Inc. based
upon information and assumptions provided by TST, Inc. and by Vector Properties, LLC.
The Financing Plan is extremely sensitive to the assumed rate of residential and
commercial real estate buildout.
To the extent that buildout rates exceed, or do not meet, the rates assumed on Schedule 1
of the Winter Farm Metropolitan Districts#2 and #3, the forecasted fund balances at the
end of any year, or the forecasted assessed valuation, general obligation bonding
capacity, mill levy rates and related property tax revenues could vary significantly front
the amounts forecasted and presented on Exhibit I.
The scope of Stan Bernstein and Associates, Inc. engagement was limited to assembling
the Financing Plan based upon information provided by others. Stan Bernstein and
Associates, Inc. engagement did not include any independent examination,review, audit,
or any other type of verification of the assumed rate of residential or commercial real
estate buildout, or any of the other assumptions contained in the Financing Plan.
Consequently, Stan Bernstein and Associates, Inc. disclaims any opinion with respect to
the achievability of the assumed rate of real estate buildout, mill levy rates, the timing
and amounts of general obligation bonds that could be issued, or the results as set forth in
the Financing Plan.
The Financing Plan presents Winter Farm Metropolitan District #2 and #3 best estimate
of assumptions as of July 31, 2000. Because the Financing Plan is predicated upon the
occurrence of future events, which are inherently subject to change and variation, some
of the assumptions upon which the Financing Plan is based will not occur; consequently,
the actual amounts may vary significantly from the forecasted amounts and such
variations may be material.
Very truly yours,
Bernstein and Associates, Inc.
CC: Don Taranto, P.E.
George M. Rowley, Esq.
EXHIBIT I
WINTER FARM METROPOLITAN DISTRICTS 02 A 3 COMBINED PRELIMINARY DRAFT,JULY 31,2000
FORECASTED REVENUES,EXPENDITURES,AND FUND BALANCES SUBJECT TO CHANGE AND REVISION
FOR THE YEARS ENDING DECEMBER 31,2001 THROUGH 2032
UNINFIATED-32000
DESCRIPTOR ,SCNj 21121 2002 2003 2001 2006 2006 200 2006 29Q 2010 2011 ZOOS
REVENUES:
PROPERTY TAXES IS 30 MILLS 0 6,000 9,000 45,583 90670 136,253 188777 243,235 299,108 349.720 394,607 394,807
SPECFICOWERSNIP TAXES 911 5%OF PROP.TAXES 0 300 450 2,270 4,533 8,813 0339 12,162 14,960 17,488 10.740 10,740
DEVELOPER ADVANCE(REPAYMENT)-OPERATIONS 100,000 0 0 0 0 0 0 0 0 0 0 (25.000)
GENERAL OBLIGATION BONDS ISSUED ON 1211 0 0 0 1,200000 0 0 2.475,000 0 0 0 0 0
INTEREST EARNINGS a 5%OF BEGINNING FUNDS 0 4600 4 496 1,1115. 0_,207 5,505 5,723 8`05 4655 2.555 L787 1676
TOTAL REVENUES 100000 /0800 13M6 1.252 3841 101,411 148,571 2,676,639 263.702 318,511 309,762 417334 394 223
OPERATING EXPENDITURES AND TRANSFERS:
TRANSFER OF PROPERTY TAXES TOWFMDF2 0 800 1.200 6078 12,089 18,187 24,904 32,431 39,893 46,629 52641 52.641
TRANSFER OF NET BONA PROCEEDS TO WFM082 0 0 0 1,152000 0 0 Z310,000 0 0 0 0 0
COST OF BOND ISSUANCE a 4%OF BOND ISSUE 0 0 0 48.000 0 0 99,000 0 0 0 0 0
1.5%COUNTY COLLECTION FEE 0 90 135 684 1,360 2.044 2.802 3.649 4,488 5,246 5,922 5.922
MISC.ADMINISTRATION 10,000 18,000 10.000 10,000 10,000 10,000 10,000 10,000 10,0(41 18,000 10000 10,000
PAYING AGENT FEES Q 0 2 000 L000 2 W0 4600 4.44.4 4,000 4600 4 P 4.000 4302
TOTAL OPERATING EXPENDITURES IL TRANSFERS 10000 10.890 13335 1,218,782 25449 34. 11 25113,705 50000 50.381 6512675 72263 7263
GENERAL OBLIGATION BONDS DEBT SERVICE a 7.5% 2
SERIES 12/1/2034 GENERAL OBLIGATION BONGS 0 0 0 0 90,000 110,000 108,500 107,000 110,500 108,625 111,750 109,500
SERIES 12/1/2007 GENERAL OBLIGATION BONDS 0 9 0 0 2 0 0 )45_825 165,625 190.625 1952550 294 500
TOTAL GENERAL OBLIGATION BONDS DEBT SERVICE 0 0 0 0 90.000 110 000 195,500 292525 290 125 299,250 Rum 314.000
TOTAL EXPENDITURES IC 000 10 890 13 335 1 218,762 115 449 1442_11 2,025,205 3_42.21M. 354506 385,125 379 563 386.563
EXCESS ANNUAL REVENUES OVER EXPENDITURES tostog 11901 041 33,627 114,039) 4,300 51.Q 7]9003 (339951 1-03] 31.711 7600
BEGINNING FUNDS AVAILABLE-JANAURYI 0 90000 89910 90.521 124,141 110109 114409 168103 87_700 51105 5542 93,513
BEGINNING FUNDS AVAILABLE-DECEMBER 31 0000 89.910 90521 124,147 110.109 114 459 166,103 07,100 51.105 55 742 933513 101173
TOTAL G.O.BONDS OUTSTANDING a DECEMBER 31 2 Q 0 2 1200,000 11 200 000000 1,180,000 3 635000 3,615,000 3,590,000 3 560,000 3,5200, 00 3,479.000
%OF GO.BONDS OUTSTANDINGIASSESSED VALUATION 000% 0.00% 0.90% 39.70% 2642% 15.95% 44 83% 31125% 30.80% 27,05% 20.75% 20.37%
NOTE 1: PROPERTY TAX TRANSFER TO WFMDFI
IS CALCULATED AS FOLLOWS:
ASSESSED VALUE WFMD 02 113 I 0 200,000 300.000 1,510440 3,022,322 4,541,762 6,225894 8.107,834 9.973.216 11651,348 13,160,230 13,160,230
WFMO 82 S 83 ASSUMED MILL LEVY 000 30 00 30 00 30.00 30.00 30.00 30.00 30 00 30.00 3000 30.00 30.00
WFPA II ASSUMED MILL LEVY TR/V4SFER EQUIV. 000 4.00 400 400 4,00 400 400 4.00 4.00 4.00 400 400
PROPERTY TAXES TRANSFERRED TO WEND 01 0 80_0 1 200 6075 12 089 18,167 24 904 32_631 3993 40 829 52 M I 52_`41
SEE CONSULTANTS REPORT AND DISCLAIMER
PAGE 1
u.F,BM1IrM2000 N. 07131/200017 34 rM
EXHIBIT I
WINTER FARM MEIROPOUTAN DISTRICTS 02 A 3 COMBINED PRELIMINARY DRAFT,JULY 31,2000
FORECASTED REVENUES,EXPENDITURES,AND FUND BALANCES SUBJECT TO CHANGE AND REVISION
FOR THE YEARS ENDING DECEMBER 31,2001 THROUGH 2031
UNINFLAIED-$2000
DESQIIPTION SCN./ 2491 2002 2003 2224 2006 2006 2001 200E 2002 2010 2011 Los
REVENUES:
PROPERTY TAXES Y 30 MILLS 0 6,000 9,000 45,583 90.670 130.253 180.777 243.735 299,196 349.720 394607 394,807
SPECFICOWERSHIP TAXES O5%OF PROP.TAXES 0 300 450 2.279 4,533 6.813 9,339 12,162 14,960 17,480 19.740 19,740
DEVELOPER ADVANCE(REPAYMENT)-OPERATIONS 100.000 0 0 0 0 0 0 0 0 0 0 (25,000)
GENERAL OBLIGATION BONDS ISSUED ON 12/1 0 0 0 1,200.000 0 0 2,475,000 0 0 0 0 0
INTEREST EARNINGS O 5%OF BEGINNING FUNDS 0 44200 141_6 1. M 6207 5.505 5.723 8`05 4455 25,_.5 2747 4_076
TOTAL REVENUES 11 W 000000 10`600 13,946 1,252 380 1�1 411 148`71 2,670,839 263 702 318,511 369,762 417334 394.221
OPERATING EXPENDITURES AND TRANSFERS:
TRANSFER OF PROPERTY TAXES TO WFMDI2 0 600 1,200 6,076 12,089 18,187 2e904 37.431 39,893 46,629 57,641 52,641
TRANSFER OF NET BONA PROCEEDS TO WFND02 0 0 0 1,152,000 0 0 2,37e 000 0 0 0 0 0
COST OF BOND ISSUANCE®4%OF BOND ISSUE 0 0 0 48.000 0 0 99.000 0 0 0 0 0
1.5%COUNTY COLLECTION FEE 0 90 135 684 1,360 2,044 2.802 3,649 4,488 5,245 5,922 5,922
MISC.ADMINISTRATION 10,000 10,000 10.000 10,000 10,000 10.000 10,000 10,000 10,000 10,000 10.000 10.000
PAYING AGENT FEES Q 0 2 000 L9g 2200 1200 4,000 4,000 4,000 4 000 4.9 4,222
TOTAL OPERATING EXPENDITURES A TRANSFERS 10000 10.690 13,335 121.702 25.449 74,211 2.518,705 50 062 56.361 6_5_821 72963 723
GENERAL OBLIGATION BONDS DEBT SERVICE 0 TA% 2
SERIES 12/1/2064 GENERAL OBLIGATION BONDS 0 0 0 0 90,000 110.000 100,500 107.000 110.500 10e825 111,7:0 109,500
SERIES 12/1/2007 GENERAL OBLIGATION BONDS 2 D 0 0 0 0 0 141,625 185,625 19_(2,6x3 19 250 2114.,a3
TOTAL GENERAL OBLIGATION BONDS DEBT SERVICE 2 2 0 0 90000 110000 106,500 292 025 298 125 2!I200 30/.000 71�OW000
TOTAL EXPENDITURES 10,000 10890 13,335 1,216,762 115 449 144211 2025,205 142L05 354306 385.125 379,503 388,551
EXCESS ANNUAL REVENUES OVER EXPENDITURES 90.000 () 6J1 33.627 (14,0391 4,300 51,621 (71,1L__031 (35,9951 1,.a.T7 37.771 7260
BEGINNING FUNDS AVAILABLE-JANAURY1 0 90.000 89910 90_4_21 121.147 110109 114489 166103 8871W 51905 55942 91113
BEGINNING FUNDS AVAILABLE•DECEMBER 31 00000 89.910 90_21 124,147 110.109 114 469 166,103 87,100 QLim 55.742 93913 101,173
TOTAL C.O.BONDS OUTSTANDING 0 DECEMBER 31 2 Q 0 9 1,200.000 1200 000 1 180 000 3 635 OW 3 61-_1000 3.590.000 3 560.000 3.520.000 3.410,000
% G.O.802415 OUTSTANDINGIASSESSED VALUATION 000% 0.00% 0.00% 39.70% 26.42% 18.95% 44.03% W�5% 3080% 01_65 i 20.75% 20.37%
NOTE 1: PROPERTY TAX TRANSFER TO WFMDI1
IS CALCULATED AS FOLLOWS:
ASSESSED VALUE WFMD 02 A A 1 0 200,000 300,000 1,519,440 3,022,322 4,541.782 6,225,894 8,107,634 9,973.216 11657.348 13,160,730 13,160,230
WEND 02603 ASSUMED MILL LEVY 000 30.00 3000 30.00 3000 3000 30.00 3000 30.00 30.00 30.00 3000
WEND III ASSUMED MILL LEVY TRANSFER EQUIV. 000 4.00 4 00 4.00 4 00 400 4.00 400 400 4.00 4.00 400
PROPERTY TAXES TRANSFERRED TO WFM0141 2 1 200 6 070 12 089 18,167 24 904 32 431 39 893 48 629 52 641 52 641
SEE CONSULTANTS REPORT AND DISCLAIMER
PAGE 1
41M12DIstAc12000 e. 07/31/200012-]l PM
EXHIBIT I
WINTER FARM METROPOUTAN DISTRICTS 0211 COMBINED
FORECASTED REVENUES,EXPENDITURES,AND FUND BALANCES
FOR THE YEARS ENDING DECEMBER 21,2001 THROUGH 2532
UNRELATED-$2000
QESCRIPTION( SCH.• 2013 2014 2018 2010 2017 7018 2019 2020 2021 248 2023
REVENUES:
PROPERTY TAXES 1230 MILLS 394,807 394,507 394.007 394.807 394,807 394.807 394.807 394,807 394,007 394,607 394,807
SPECIFIC OWERSHIP TAXES O 5%OF PROP.TAXES 19,740 19,740 10,740 19.740 19.140 19.740 19,740 19,740 19.740 19,740 19,740
DEVELOPER ADVANCE(REPAYMENT)-OPERATIONS (25,000) (25,000) (25.000) 0 0 0 0 0 0 0 0
GENERAL OBUGATAN BONDS ISSUED ON 1211 0 0 0 0 0 0 0 0 0 0 0
INTEREST EARNINGS q 6%OF BEGINNING FUNDS 5,059 5.146 3-`17 1584 1,262 587 l81 313 is 247
TOTAL REVENUES 394.800 394,696 392.65 41131 415,809 415.134 41494 414.06 114 563331
1. 414 704 414J31
OPERATING EXPENDITURES AND TRANSFERS:
TRANSFER OF PROPERTY TAXES TO WFMDS2 52,841 52,841 52,611 52.841 52,841 52,041 52,041 52,841 52,641 52,041 52611
TRANSFER OF NET BONG PROCEEDS TO INFMD92 0 0 0 0 0 0 0 0 0 0 0
COST OF BOND ISSUANCE@ 4%OF BOND ISSUE 0 0 0 0 0 0 0 0 0 0 0
1.5%COUNTY COLLECTION FEE 5.922 5,022 5,922 5,922 5.922 5.922 5,922 5.922 5,922 5,022 5,922
MISC.AOMINISTRAT10N 10.000 10,000 10,000 10.000 10,000 10,000 10,000 10,000 10.000 10,000 10,990
PAYING AGENT FEES 4000 4000 4.000 4000 4000 4000 4000 1,000 4.000 4000 4.000
TOTAL OPERATING EXPENDITURES&TRANSFERS 7263 M.5_63 72503 72.563 72.563 72.563 7283 U,Sn 72,563 72.500 722 563
GENERAL OBLIGATION BONDS DEBT SERVICE O 75% 2
SERESI2/1F2004 GENERALOBUGATION BONGS 107,250 110,000 107,375 109,750 111,750 108,375 110,000 111,250 107,125 108,000 108,500
SERIES 12/1/1007 GENERAL OBUGATAN SOFAS 213,000 250,750 245,500 240,250 245 000 239.000 233 000 237,000 230 250 223300 226,750
TOTAL GENERAL OBLIGATION BONDS DEBT SERVICE 320.250 36O 750 352,875 35S,0320 350 750 347,375 ML%)0 348 250 337,375 331,500 035.254
TOTAL EXPENDITURES 392,813 433,313 425 438 422,503 42$,313 4L9L 115.503 120(113 400938 404,963 404813
EXCESS ANNUAL REVENUES OVER EXPENDITURES 1,793 (38 8101 132.6731 8( 1321 Ltl 50� atilt) [66.9) (5.9527 1.425 10 731 I,576
BEGINNING FUNDS AVAILABLE-JANAURY I 101 17J 01 2.906 04.316 31,675 25.243 1139 6 935 1120 314 1,938 15-_,870
BEGINNING FUNDS AVAILABLE-DECEMBER 31 102.966 31275 25243 11.7J9 6 935 6 266 314 939 118211
4` 23.L
TOTAL G.O.BONDS OUTSTANDING a DECEMBER 31 2 3.410,000 3305000 3,200,030 30000`000 290"000 7040000 2.710.000 2,565.000 2A2QQOQ 2,270000 7105,000
%OF GO.BONDS OUTSTANDING/ASSESSED VALUATION 25.91% 21'6 24,32% 23.46% 22.53% 21.58% 20.59% 19.49% Iva 17.25% 1800%
NOTE is PROPERTY TAX TRANSFER TO WFMDSI
IS CALCULATED AS FOLLOWS:
ASSESSED VALUE WFMD 02 SP3 1 13,160,230 13,160,230 13,160,230 13,160,230 13.160,230 13,180,230 13,160,230 13,160,230 13,180,230 13,160,230 13,160,230
WFIAD•2 a G ASSUMED NU.LEVY 3000 3000 30.00 30.00 3000 3000 30.00 30.00 30.00 30.00 30.00
WFMO 01 ASSUMED MU.LEVY TRANSFER EQUIV. 400 4.00 4.00 4.00 4.00 400 4.00 400 400 400 4.00
PROPERTY TAXES TRANSFERRED TO WFMO 01 S2641 52W 52.001 Ufa 52.001 52 M I 52 611 52811 52.811 52-_,641 52 001
SEE CONSULTANTS REPORT AND DISCLAIMER
PAGE 1A
Mf11e01ibh12000 Os 07/1I/200012'14 ru
EXHIBIT I
WINTER FARM METROPOLITAN DISTRICTS*2 II 3 COMBINED
FORECASTED REVENUES,EXPENDITURES,AND FUND BALANCES
FOR THE YEARS ENDING DECEMBER 31,2001 THROUGH 2032
UNINFLATED•72000
DESCRIPTION SCH,1 2074 2025 7�6 2027 2028 2029 2020 2931 2032 TOTALS
REVENUES:
PROPERTY TAXES 030 MILLS 391,807 394,807 394.807 391.907 304,807 394.807 394,807 394,607 391,807 10,052,188
SPECIFIC OWERSFIP TAXES 05%OF PROP.TAXES 19,740 19,740 19.740 19,740 19,740 19,740 19,740 19,740 19.740 502,809
DEVELOPER ADVANCE(REPAYMENT)-OPERATIONS 0 0 0 0 0 0 0 0 0 0
GENERAL OBLIGATION BONDS ISSUED ON 1771 0 0 0 0 0 0 0 0 0 3,875,000
INTEREST EARNINGS 05%OF BEGINNING FUNDS 1.159 1.923 3.112 1767 5679 9150 11717 13.712 16051 140 07Q
TOTAL REVENUES 41570 110,470 112659 419,314 121,226 423697 125.805 422W 130596 14.309.805
OPERATING EXPENDITURES AND TRANSFERS:
TRANSFER OF PROPERTY TAXES TO WFM012 52,641 52.841 52,641 52,611 52.641 65.801 65,801 65801 65,801 1%92.932
TRANSFER OF NET BOND PROCEEDS TO WFM012 0 0 0 0 0 0 0 0 0 3,525,000
COST OF BONO ISSUANCE 0 4%OF BOND ISSUE 0 0 0 0 0 0 0 0 0 147000
1.5%COUNTY COLLECTION FEE 5,922 5.922 5,922 5.922 5,922 5.922 5,922 5.922 5,022 150,783
MISC.AOMNISTR ARON 10.000 10,000 10.000 10,000 10,000 10,000 10,000 10,000 10.000 320,000
PAYING AGENT FEES I,Q09 4400 4 000 44 000 4400 1.000 2,000 2,000 2200 105 000
TOTAL OPERATING EXPENDITURES S TRANSFERS 72563 72.58] 7255,1 12.593 72.SW 65_`23 63.723 63_23 53.723 5.645,715
GENERAL OBLIGATION BONDS DEBT SERVICE 0 7.5% 2
SERIES 12!I 204 GENERAL OBLIGATION BONDS 108,625 106,375 107,750 111,750 110.000 112 875 0 O 0 2,714 625
•
SERIES 12/10707 GENERAL OBLIGATION BONDS 219,250 211.750 204,250 1x6.750 189.250 0750 Raw 297.750 569 750 a 910 373
TOTAL GENERAL OBLIGATION BONDS DEBT SERVICE 327 075 320.125 1L2pq 305,500 200.250 21.525 294 250 297.750 569.750 9,92,3,010
TOTAL EXPENDITURES 400438 Q22888 384,563 381 D03 371.813 380,346 371.973 381,473 653173 14.271.715
EXCESS ANNUAL REVENUES OVER EXPENDITURES 15.269 23 782 33,095 38,251 49,413 43_J19 47 891 46 766 (223,5761 96
BEGINNING FUNDS AVAILABLE-JANAURY I 23857 3L,45 02_36 95.334 133,555 152,999 226 347 274,239 321.025 0
BEGINNING FUNDS AVAILABLE•DECEMBER 31 33158 62.230 95.331 133.555 1/72, 9 9B 220,347 aza 321025 98 WO 96150
TOTAL O.O.BONDS OUTSTANDING a DECEMBER 31 2 1 935000 17000 1 580 000 1.390.000 1.195,0170 990 000 770,000 530.000 0
1 %OF G.O.BONDS OUTSTANDING/ASSESSED VALUATION 14 70% 13.37% 122,j31 10,SS% 9.06% 7.52% 515% 4403%
NOTE 1: PROPERTY TAX TRANSFER TO WPM DEI
IS CALCULATED AS FOLLOWS:
ASSESSED VALUE WFM012 443 1 13,160,230 13,160,230 13,160,230 13,160,230 13,160230 13,180,230 13,160.230 13.160.230 13.160,230
WFMD SSsn ASSUMED TAIL LEVY 30.00 30.00 30.00 30.00 30.00 3000 3000 3000 30.00
WFMDSI ASSUMED MILL LEVY TRANSFER EOIAV. 4.00 400 400 4.00 4.00 500 500 5.00 5.00
PROPERTY TAXES TRANSFERRED TO WFM011 'r,1,611 52.411 521.1 52.541 szea 55801 05.001 05,501 05.501 1,392,032
SEE CONSULTANTS REPORT AND DISCLAIMER
PAGE t
Me VOOnIrk12090.MI 01/31/1000I7.34 PM
SCHEDULE I
WINTER FARM METROPOLITAN DISTRICTS 02&3 COMBINED PRELIMINARY DRAFT,JULY 31, 2000
BUILDOUT(ABSORPTION)AND ASSESSED VALUATION SUBJECT TO CHANGE AND REVISION
FOR THE YEARS ENDING DECEMBER 31,2001 THROUGH 2010
UNINFLATED•$2000
2001 2002 2003 2994 2005 2006 2007 2008 2009
BUILDOUT-INCLUDES UNIT LOT VALUES PER SCHEDULE 1:
Number Value Total
Square Of Per Bulldout
Land Use Summon, Elm Units Unit Value
Residential:
Tract Homes 435 170,000 73,950,000 0 55 54 55 54 55 54 54 54
Estate Homes 200 250,000 50.000.000 0 25 2i 25 25 25 25 25
Total Residential 635 195.197 123.950,000 0 80 79 80 79 80 79 79 79
Total Residential-Cumulative 0 80 152 239 31$ 398 477 556 635
Commercial,Office,Indust. 30 000 125 3,750.000 0 0 p 0 5.000 10.000 10000 5 O00 0
Total Value-Entire Project 127.700.000
Source:Winter Farms Development,LLC
oEstmated Value of Residential Buildout 0 15,600,000 15,430,000 15,600,000 15.430,000 15,600,000 15,430,000 15,430,000 15,430,000
Estimated Value of Non-Residential Bulldout 0 0 0 0 625.000 1.250.000 1,250.000 625.000 0
Estimated Value of All Buildout 9 15.600,000 15,430,000 15,600,000 16.055.000 16,850.000 16,680,000 16,055.000 15,430,000
Projected Assessed Valuation-Incremental:
Projected Assessed Valuation From Residential Buldlout @ 9.74% 0 1,519,440 1,502,882 1,519,440 1,502,882 1,519.440 1,502,882 1,502,882 1.502,882
Projected Assessed Valuation From Non-Residential Buldlout @ 29.00% 0 0 0 0 181.250 362.500 362.509 181.250 0
Total incremental Assessed Valuation-Residential&Non-Residential 9 1.519.440 1.502,882 1,519,440 1,684.132 1,881,940 1.865.382 1,684,132 1,502,882
Total Cumulative Assessed Valuation-Residential&Non-Residential 0 1.519.440 3,022.322 4,541.762 6.225 894 8.107.834 9 973 216 11,657.348 13.160,230
Year Assessed Valuation Certified to WFMD#1 2002 2003 2004 2005 2006 2007 2008 2009 2010
Year Assessed Valuation Collected by WPM#1 2003 2004 2005 2006 2007 2008 2009 2010 2011
SEE CONSULTANTS REPORT AND DISCLAIMER PAGE 2
Metro0lstIct2000.sls 07/31/200012'.34 PM
SCHEDULE I
WINTER FARM METROPOLITAN DISTRICTS 92 R 3 COMBINED
BUILDOUT(ABSORPTION)AND ASSESSED VALUATION
FOR THE YEARS ENDING DECEMBER 31,2001 THROUGH 2010
UNINFLATED-$20O0
2010 TOTALS
9UILDOUT-INCLUDES UNIT LOT VALUES PER SCHEDULE 1:
Number Value Total
• Square Of Per Buildout
and Use Summary Feet Units Unit Value
tesidentlal-
Trad Homes 435 170,000 73,950.000 0 435
Estate Homes 200 250,000 50.000.000 0 200
Total Residential 635 195,197 123.950,000 0 635
Total Residential-Cumulative 635
•
:ommerdal,Office,Indust. 30.000 125 3.750.000 0 30`00
Total Value-Entire Project 127.700.000
iource:Winter Farms Development,LLC
istlmated Value of Residential Bulldout 0 123,950,000
istlmated Value of Non-Residential Buildout 0 3.750.000
:admitted Value of All Buildout 0 127.700.000
'rojected Assessed Valuation-Incremental:
'rojeded Assessed Valuation From Residential Buidlout O 9.74% 0 12.072,730
'rajeded Assessed Valuation From Non-Residential Buldlout @ 29.00% 0 1.087.500
otat Incremental Assessed Valuation-Residential&Non-Residential 0 13.160.230
alai Cumulative Assessed Valuation-Residential&Non-Residential 13,160.230 13,160,230
'ear Assessed Valuation Certified to WFMD Ai 2011
ear Assessed Valuation Collected by WFMD II1 2012
EE CONSULTANTS REPORT AND DISCLAIMER PAGE 2A
MetroDistrlct2000.xls 07/31/200012''34 PM
SCHEDULE 2
WINTER FARM METROPOIJTAN DISTRICTS#2 S 3 COMBINED
O.O.BOND ISSUES AND DEBT SERVICE REQUIREMENTS
FOR THE YEARS ENDING DECEMBER 31,2001 THROUGH 2032
2221 2002 2M? 2004 2005 2008 2007 2008 2009 2016
SCHEDULE OF GENERAL OBLIGATION BOND ISSUES
ISSUE NET ISSUE BONDS
RAM PROCEEDS COSTS ISSUED
12/01/2004 1,152,000 48,000 1,200,000 0 0 0 0 90,000 110.000 108,500 107,000 110.500 108,625
12111/2007 7,376,090 9.7.9._00 2.25,(a) Q 0 0 0 Q 0 0 M,§25 105,625 190 625
TOTALS 3 570 000 147,000 3,675.000 Q 0 0 0 90.000 110,000 108 500 292,625 296 125 299250
DETAILED ANNUAL DEBT SERVICE REQUIREMENTS:
12101/2004 PRINCIPAL REDUCTION 0 0 0 0 0 20,000 20,000 20.000 25,000 25,000
INTEREST®7.5% 0 0 0 0 90.000 90,000 88,500 07,000 65,500 05_
TOTAL DEBT SERVICE REQUIREMENTS o Q 0 0 9000 110.000 108 544 107,000 110.500 108 625
BONDS OUTSTANDING g 12731 0 0 0 1,200,000 1,200,000 1,180,000 1,160,000 1,140,000 1.115,000 1,090,000
/2/0112007 PRINCIPAL REDUCTION 0 0 0 0 0 0 0 0 0 5,000
INTEREST ft 7.5% 0 0 0 0 0 0 0 185 625 185625 185 625
TOTAL DEBT SERVICE REQUIREMENTS 0 0 0 0 0 0 0 105 625 185625 190 625
BONDS OUTSTANDING fil 12/31 0 0 0 0 0 0 2,475,000 2,475,000 2,475,000 2,470,000
TOTAL BONDS OUTSTANDING ALL ISSUES 0 0 0 1 200,000 1.200,000 ],180`000 3,635,000 3 615,000 3 590.000 3 560,000
SEE CONSULTANTS REPORT AND DISCLAIMER
PAGE 3
Melre0i1b1N2000.•Is 07/31/200012:34 PM
•
SCHEDULE 2
WINTER FARM METROPOLITAN DISTRICTS 112 It 3 COMBINED
O.O.BOND ISSUES AND DEBT SERVICE REQUIREMENTS
FOR THE YEARS ENDING DECEMBER 31.2001 THROUGH 2032
2011 2212 2013 2014 2015 2016 2017 2018 2219 2020
SCHEDULE OF GENERAL OBLIGATION BOND ISSUES
ISSUE NET ISSUE BONDS
DATE PROCEEDS COSTS ISSUED
12101/2064 1.152,000 45.000 1.200.000 111,750 109,500 107,250 110,000 107,375 109,750 111,750 108,375 110,000 111,250
12/01/2007 2 378 000 89.000 2 475.000 195 250 204,500 213,000 250 750 245500 240 250 245,000 239,000 233 000 237,000
TOTALS 3.528.000 147 000 3 875 000 307,000 314.000 320.250 360 750 352,875 35000 356,750 347.375 343 000 348.250
DETAILED ANNUAL DEBT SERVICE REQUIREMENTS:
1201/2004 PRINCIPAL REDUCTION 30,000 30,000 30,000 35,000 35,000 40,000 45000 45.000 50,000 55.000
INTEREST#7.5% 81.750 79.500 77.250 75 000 72375 69750 $6 750 63375 60 000 56.250
TOTAL DEBT SERVICE REQUIREMENTS 111.750 109,500 107.250 110.000 107,375 109.750 111750 108375 110 00Q 111250
BONDS OUTSTANDING a 12131 1,060,000 1,030.000 1000,000 965,000 930,000 890,000 845,000 800,000 750,000 695.000
12/0112001 PRINCIPAL REDUCTION 10,000 20.000 30,000 70,000 70.000 70,000 80,000 80,000 80,000 90,000
INTEREST A 7.5% 185 250 184 500 183 000 180,75Q 175500 17250 165.000 15_9,200 153 000 147 000
TOTAL DEBT SERVICE REQUIREMENTS 195 250 201509 213.000 25075Q 245,500 240,250 2.45 000 239.000 233700 211,022
BONDS OUTSTANDING#12/31 2,480.000 2,440,000 2,410.000 2,340,000 2,270,000 2.200,000 2,120,000 2,040,000 1,960,000 1,870,000
TOTAL BONDS OUTSTANDING ALL ISSUES 3 520,922 3 470 000 3 410,000 3.305.000 3 200,00Q 3 090 000 2 965,000 2,840 000 2,7_10 000 2,565 000
SEE CONSULTANTS REPORT AND DISCLAIMER
PAGE 3A
MetrooHtrict20t19.d4 01/31/200012:34 PM
SCHEDULE 2
WINTER FARM METROPOLITAN DISTRICTS 12&3 COMBINED
G.O.BOND ISSUES AND DEBT SERVICE REQUIREMENTS
FOR THE YEARS ENDING DECEMBER 31,2001 THROUGH 2032
2021 2Q222 29_21 2024 2015 2221 2021 2028 2029 2030
SCHEDULE OF GENERAL OBLIGATOR BOND ISSUES
ISSUE NET ISSUE BONDS
DATE PROCEEDI COSTS ISSUED
12/01/2004 1,152,000 48,000 1,200,000 107,125 108.000 108,500 108,625 105,375 107,750 111,750 110,000 112,875 0
12101/2007 7.378.000 99 000 2 475.000 230.250 223 500 228.750 219.25Q 211,750 204 250 198,750 159,250 181,750 294.250
TOTALS 3.524000 J41000 0,075,000 337 375 331 50Q 335.250 027.875 320,125 312.000 . 306500 299,250 294,625 294,250
DETAILED ANNUAL DEBT SERVICE REQUIREMENTS:
12/01/2004 PRINCIPAL REDUCTION 55,000 60,000 65.000 70,000 75,000 80.000 90,000 95,000 105.000 0
INTEREST 557.5% 52.125 ' 48 000 43.50Q 38,625 3J17_5 27 750 21 750 1500 7 875 0
TOTAL DEBT SERVICE REQUIREMENTS 107,125 108 000 108.500 10625 108 375 107 750 111550 110 000 112875 Q
BONDS OUTSTANDING @ 12131 840,000 580,000 515,000 445,000 370,000 290,000 200,000 105,000 0 0
12101/2007 PRINCIPAL REDUCTION 90,000 90,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 220,000
INTEREST @ 7.5% 140 250 133.500 124750 119.250 111.750 104,250 96 75Q 89,250 81 750 74.250
TOTAL DEBT SERVICE REQUIREMENTS 230 250 22,3.500 226,75Q 219 250 211 750 204,250 1_96,750 189.250 10 L.750 294 250
BONDS OUTSTANDING a 12731 1,780,000 1.690,000 1,590,000 1,490,000 1.390.000 1,290,000 1,190,000 1,090,000 990,000 770,000
TOTAL BONDS OUTSTANDING ALL ISSUES 2,420 000 2 270.000 2 105 000 1,935,000 1 700 000 1.500,000 1,390.000 1.195 000 990,000 770 00Q
SEE CONSULTANTS REPORT AND DISCLAIMER
PAGE 3B
MehoDhtdct2000-itt 07/31/200012 34 PM
SCHEDULE 2
WINTER FARM METROPOLITAN DISTRICTS 02 8 3 COMBINED
O.O.BOND ISSUES AND DEBT SERVICE REQUIREMENTS
FOR THE YEARS ENDING DECEMBER 31,2001 THROUGH 2032
2031 2032 TOTALS
SCHEDULE OF GENERAL OBUGATION BONO ISSUES
ISSUE NET ISSUE BONDS
OME PROCEEDS COST$ ISSUED
12/01/2004 1,152,000 48,000 1,200,000 0 0 2,714,625
12/010007 2.378.000 9000 2.475.000 297 750 569750 5,910.3754
TOTALS 3.528.000 14_000 3 875 000 297.750 569.750750 8.625.000
DETAILED ANNUAL DEBT SERVICE REQUIREMENTS:
12/0112004 PRINCIPAL REDUCTION 0 0 1,200,000
INTEREST 7.5% 0 0 1.514.625
TOTAL DEBT SERVICE REQUIREMENTS 0 0 2 714 625
BONDS OUTSTANDING 42 12131 0 0
12/01/2007 PRINCIPAL REDUCTION 240,000 530,000 2,475,000
INTEREST 42 7.5% 5_750 19,750 3,435 375
TOTAL DEBT SERVICE REQUIREMENTS 297,752 56 9 750 5,910.375
BONDS OUTSTANDING @ 12/31 530,000 0 0
TOTAL BONDS OUTSTANDING ALL ISSUES 530 000 4 0
SEE CONSULTANTS REPORT AND DISCLAIMER
PAGE 3C
Meho011r1c12000 de 07/31/200012 34 PM
EXHIBIT C
Statutory Contents of this Service Plan
I. A description of the proposed services;
II. A financial plan showing how the proposed services are to be financed;
III. A preliminary engineering or architectural survey showing how the proposed
services are to be provided;
IV. A map of the Districts' boundaries and an estimate of the population and valuation
for assessment of the Districts;
V. A general description of the facilities to be constructed and the standards of such
construction, including a statement of how the facility and service standards of the Districts are
compatible with facility and service standards of Windsor and of municipalities and special
districts which are interested parties pursuant to § 32-1-204(1), C.R.S.;
VI. A general description of the estimated cost of acquiring land, engineering
services, legal services, administrative services, initial proposed indebtedness and estimated
proposed maximum interest rates and discounts, and other major expenses related to the
organization and initial operation of the Districts;
VII. A description of any arrangement or proposed agreement with any political
subdivision for the performance of any services between the Districts and such other political
subdivisions;
VIII. Information satisfactory to establish that each of the following criteria as set forth
in § 32-1-203, C.R.S., has been met:
(a) That there is sufficient existing and projected need for organized service in the
area to be served by the Districts;
(b) That the existing service in the area to be served by the Districts is inadequate for
the present and projected needs;
(c) That the Districts are capable of providing economical and sufficient service to
the area within their boundaries;
(d) That the area to be included in the Districts has, or will have, the financial ability
to discharge the proposed indebtedness on a reasonable basis;
(e) That adequate service is not, or will not be available to the area through Windsor,
other existing municipal or quasi-municipal corporations, including existing special districts,
within a reasonable time and on a comparable basis;
(f) That the facility and service standards of the Districts are compatible with the
facility and service standards of Windsor within which the Districts are to be located and each
municipality which is an interested party under§ 32-1-204(1), C.R.S.;
(g) The proposal is in substantial compliance with any master plan adopted pursuant
to § 30-28-106, C.R.S.;
(h) That the proposal is in compliance with any duly adopted city, county, regional,
or state long-range water quality management plan for the area; and
(i) That the formation of the Districts will be in the best interests of the area
proposed to be served.
FIGURE 1
Development Plan
�\. ../
/ W. C. R. 70 /
/ Out Parcel
Unincorporated
A Weld County
Residential
92.68 Acres Gross
64.88 Acres Net
204 du — 241 du
Gross Density 2.4 du/ac to 2.6 du/ac
Net Density 3.1 du/ac to 3.7 du/ac
8,000 sf min lot size
` — Proposed Zoning: Sri \
—� = Tract
10.53 ACRES
�1.reeley Canal Ditch #2
n Ti �` \
_
co
'\-------------,
C1—Park Site
5.9 Acres Gross �,.
5.3 Acres Net
C2—School
11.19 Acres Gross D
10.00 Acres Net
Residential
B Acres Net
Residential 30.36 130 du — 174 du
51.91 Acres Gross Gross Density 3 du/ac to 4 du ac
47.93 Acres Net Net Density 4.28 du/ac to 5.7 du/ac
165 du — 220 du 6,000 sf min lot size
Gross Density 3.18 du/ac Proposed Zoning: SF1
to 4.24 du ac
Net Density 3.44 du/oc
to 4.59 du/ac
6,000 sf min lot size
Proposed Zoning: SF1 l
$IN
E
Commercial /
Industrial Development
Existing Zoning:
Windsor — I, Industrial
No Zone Change
24.7 Acres Gross
p
k
0 Z J s�`
�a i C STATE HIGHWAY 392 �d
ti
a
n
ti
FIGURE 2
Map of Districts
1
77 Al
//
/
N
/• Q1
M
V
- ,^) 3
Qeck 2
r 4 cv ' a� w
F
/ � V %��
-63
,2 /
' 7 .- \ .
I �1 - ,i/
W. 2, F ,9 W. C. R. 19 1
FIGURE 2
MAP OF DISTRICTS
I WINTER FARM
200 - ° '°°_— METROPOLITAN DISTRICT
wais _
FIGURE 3
Phasing Plan
,
, /
in cm
) /
,- \
, co,i,
I
>-
a
......
W
1-
I-
O I
N
I t: Ni
U I
3
. . (
71c 1
W. C. R. 19 W. C. R. 19
FIGURE 3
I
PHASING PLAN
Z--- --6-.NE
WINTER FARM
METROPOLITAN DISTRICT
FIGURE 4
Potable Water System
I
II
W. C. R. 70 /
\ .--_ /' ''''''"-- ----- -------'
I l-----\,, 12'WA
1 C.,,,. .N:,,,::_.. ...___-------..„...... .,,,,,,,
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FIGURE 5
Raw Water Distribution Plan
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W. C. R. 19 W. C. R. 19
FIGURE 5
I
RAW WATER PLAN
rev-a
WINTER FARM
METROPOLITAN 0/STRICT
FIGURE 6
Sanitary Sewer Plan
W. C. R. 70
•
_ \\"--\-&--f------- ,
\ 15 SA
f
15"S
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r UNDERORAIN
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/ 12"UNDERORA/N
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FlC 1 STATE HIGHWAY 392
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FIGURE 7
Street Plan
W. C. R. 70
I / J \
ollector Road
Bridge
Widening
ollector Road
Ditch Crossing
/Collecto__r Road •
co
Urban Minor Arterial
Road Widen in \
(5 Lanes
(///
ollector Road
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�a y STATE HIGHWAY 392sp
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FIGURE 8
Street Section
- - T
B' 12, ,2.ark 1 B.
4.5B 4' ariainQ°g r0_F[ to FL _hafFel°g _ .58
WALK 11.42 60' ROW 1.42J WA4LK 4
TYPICAL COLLECTOR CROSS SECT/ON
FIGURE 8
STREET SECT/ON
WINTER FARM
METROPOLITAN DISTRICT
A
FIGURE 9
Storm Sewer Plan
W. C. R. 70
ii (- --,
\,....,\,...,_. . .
______
DETENTION
POND
\_
DETENTION
POND
P DITCH
CROSSING
CD
JSERq&
OD /%/
S
WE sr
PROPOSED
4 STORM
SEWER
PROPOSED STORM
SEWER
DETENTION PO /
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1
DET'NTION
NOWTALL
STORM
SEY.ER
I
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�Zi% C STATE HIGHWAY 392esP
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TABLE 1
Development Projections
•
- TABLE-1
DEVEtOPMEN'Y'<PRO'JECTIONS':;
Windsor % of j
Planning Area Zoning Dwelling Units Per Acre Units Acreage Total 1
Residential Areas
A SF 1 2.6 241 92.7 40.3
B SF 1 4.2 220 . 51.9 22.6
D SF 1 4.0 173 43.4 18.9
_
Subtotal 635 188.0 81.8
Commerical Areas
E I Commercial/Industrial 24.7 10.8
Subtotal 24.7 10.8
Open Space Areas
C SF1 School/Park 17.1 7.41
Subtotal 17.1 7.41
T0TAL 635 229.8 100.0
0947-000
7/20/00
TABLE 1A
Phased Development Projections
'FABLE 1A
Phased Development Projections
Planning Area Windsor Zoning Phase I Phase II Phase III
Units Acres Units I Acres Units I Acres
A SFI - - - - 241 92.7
B SF I 220 51.9 - - - -
C SFl 17.1 - - - -
D SF1 173 43.4 - - - -
E I - - 24.7 - -
0947-000
7/20/00
TABLE 2
Water Demand Calculations
TABLE 2
ULTIMATE WATER DEMAND CALCULATIONS
WINTER FARM METROPOLITAN DISTRICT 1,
WINTER FARM METROPOLITAN DISTRICT 2,
AND WINTER FARM METROPOLITAN DISTRICT 3,
FLOW
POTABLE DEMAND gpd afy
RESIDENTIAL
In-House Potable Use 261
635 du x 3.5 ppdu x 105 gpcd 233,363
Irrigation 173
188 acre x 40% x 2.3 afy/ac 154,479
COMMERCIAL
Inside Potable Use 28
24.7 ac x 1000 gpad 24,700
Irrigation 20,296 23
24.7 ac x 40% x 2.3 afy/ac
SCHOOL/OPEN SPACE
School's Potable Use 8
400 students x 18 gpad . 7,200
Open Space 14,051 16
17.1 ac x 40% x 2.3 afy/ac
ROAD ROW
lacx40%ax2.3afy/ac
822 1
TOTAL
454,911 509
mgadon demands are based on 210 day season.
•Note.. Doeunened in house use may be demonstrated to be less over tine with the are of the taw water system.
0947-000
7/21/00
TABLE 3
Projected Water Requirements
WINTER FARM METROPOLITAN DISTRICTS 1-3
TABLE 3
PROJECTED WATER REQUIREMENTS
PHASE YEAR POTABLE IRRIGATION TOTAL CUMULATIVE TOTAL
GPO AFY GPD AFY GPO AFY GPO AFY
2000 0 0 0 0 0 0 0 0
2001 9,207 10 5,693 6 14,900 16 14,900 16
2002 18,394 21 10,587 12 28,981 33 43,881 49
I 2003 18,394 21 10,587 12 28,981 33 72,863 82 -
2004 18,394 21 10,587 12 28,981 33 101,844 115
2005 18,394 21 10,587 12 28,981 33 , 130,826 148
2006 18,394 21 10,587 12 28,981 33 159,807 181
2007 18,394 _ 21 10,587 12 28,981 33 188,789 214
2008 18,394 21 10,587 12 28,981 33 217,770 247
2009 6,634 6 5,693 6 12,327 12 230,097 259
_ 2005 0 0 0 0 0 0 230,097 259
2006 6,194 6 5,873 6 12,067 12 242,164 271
II 2007 6,194 7 5,873 7 12,067 14 254,231 285
2008 6,194 7 5,873 7 12,067 14 266,298 299
2009 6,194 7 5,873 7 12,067 14 278,365 313
2010 10,407 12 8,386 9 18,793 21 297,158 334
2011 19,594 22 15,973 18 35,567 40 332,725 374
III 2012 19,594 22 15,973 18 35,567 40 368,292 414
2013 19,594 22 15,973 18 35,567 40 403,859 454
2014 19,594 22 15,973 18 35,567 40 439,426 494
2015 7,099 7 8,386 8 15,485 15 454,911 509
TOTALS 255,263 297 189,548 212 454,911 509 454,911 509
IRRIGATION PARAMETERS- RESID,COMM, INDUST = 40% OS = 40%
0947-000
7/21/C0
TABLE 4
Wastewater Flow Calculations
TABLE 4
WASTEWATER FLOW CALCULATIONS
TOTAL GPD
RESIDENTIAL
635 dux 3.5 ppdu x 100 gpcd 222,250
SCHOOL
400 students x 18 gpsd x 90% 6,480
COMMERCIAL
24.7 acre x 950 gpad 23,465
TOTAL 252,195
0947-000
7/21/00
TABLE 5
Projected Wastewater Flows
WINTER FARM METROPOLITAN DISTRICTS 1 -3
TABLE 5
PROJECTED WASTE WATER FLOWS
PHASE YEAR PROJECTED WASTE WATER FLOWS CUMULATIVE TOTAL
GPD
2000 0 0
I 2001 7,874 7,874
2002 16,624 24,499
2003 16,624 41,123
2004 16,624 57,748
2005 16,624 74,372
2006 16,624 90,996
2007 16,624 107,621
2008 16,624 124,245
2009 5,424 129,670
2005 0 129,670
2006 4,991 134,660
II 2007 4,991 139,651
2008 4,991 144,642
2009 4,991 149,632
2010 11,785 161,418
2011 20,535 181,953
III 2012 20,535 202,488
2013 20,535 223,024
2014 20,535 243,559
2015 8,635 252,195
TOTALS 252,195 252,195
0947-000
7/21/00
TABLE 6
Street Standards
TABLE 6
STREET STANDARDS
ROADWAY TYPE
PARAMETER Minor Arterial Collector Local
Design Speed (MPH) 40-45 40-45 35-40
Maximum Grade (%) 5 7 8
Row Width (FT) 100 60 50
Pavement Width (FT) 76 40 36
Bike Lane Width (FT) 6
-
Width of Lanes (FT) 12 12 11
Number of Lanes 5 2 2
Parking Width (FT) 0 8 7
Sidewalk Width (FT) 5 4 4
Minimum Grade (%) 0.4 0.4 0.4
0947-000
7/21/00
TABLE 7
Total Cost Summary
TABLE 7
TOTAL COST SUMMARY*
The total capital facilities costs are summarized as follows and are described in further detail in the Exhibits:
Drainage Improvements $963,456.50
Street Improvements $2,281,156.50
Potable Water System $708,136.50
Raw Water System $827,806.50
Wastewater System $1,178,356.50
Parks & Open Space $1,278,356.50
Transportation $0.00
Mosquito Control $0.00
TOTAL $7,237,269.00
These amounts include completion, construction,acquisition and/or installations of the proposed facilities.
These amounts do not include the costs of organizing the District nor financing costs, or inflation:
These costs do include contingencies, design and construction engineering, construction management,
and other capitalized engineering costs.
0947-000
7/27/00
iljtCons INC.
Consulting Engineers
Clfent: :SOI:LENBERGRR 4EVELOPMENT CORPORATION
ProlegtF.WINTER PAR�f R[RTROPOLIjAN PISIRICI' ..
I -:Phpa I.tartan l7sase IGfma .Has III '-'MI <
No. .. {!1120 .•.. VIM! Ilia Cal QW4r4Y CS, GWnIHY C6SI a O9adO CP wp1H co. .:-Q5 !'.C0v
SANITARY SEWER
I Manholes F.A. 32,000.00 20 140,000.00 50 CO II 522,000.00 31 162.000.03
2 If'PVC Pipe I.F. 14500 1,35 158.500.00 30 en _ 1000 1,300 158.505
3 12'PVC Pipe L . 140.00 400 116.003 00 5000 _ 1000 40 116,0120 0)
4 Sr PVC Pipe I.F. 133.5 1,500 152,303 OD 50.0 30.0 1,500 152.500 00
5 6'PVC Pipe L F 12600 4,40 1113,200 X50 360 310,800 8,00 1224,000
6 Tcnporuy Lift Staion EA. 1500 0 00 CO
,0 . I 11 . 0. 10 0 10 0 I 1100.020 00
7 Declaring L.S. 140,000 CO 0 1 540,003 OD XS 00 300 I 1.10.000
1 Developna6 Pcrimele/Drain-8' L F. 320 0 11,20 1224030 00 10.0 10 CO 11,20 1224,000.0
9 Devekpment Perimeter Drain-12' L.F. 530.0 1,300 139,000.0 500 300 1,300 139,000 00
10 Dich Crossing EA. 180,000.0 30.0 10.0 I 180,020 00 I 180.000 OD
II Tic to Eddins Madpk EA. 12,000.0 I 32,090 00 50.0 1 12,0 0 0 0.0 2 14,0 .
Subtotal 5695.200 00 50.0 1204,&600 590.000.0
POTABLE WATERLINE
I II'PVC L . 132.0 3,10 199,2[0 03 1,3110 141.000 1,10 135,200 03 5.50 1116.00.0
2 8'PVC L . 1260 3,40 188,402.00 1,30 133,800 OD 2,40 562,400 CO 1,10 1184,100.0
3 6'PVC L . 125.0 40 110,000 -100 12,500 300 11,50110 69 120.000
4 Hydrant Assemblies F.A. S1,710 02 8 114.2400 _ I 53.500 5 18,900 00 15 126,702 00
5 Gate Valves EA. 1690.0 7 14,8300 2 11,3800 3 32,0100 II 18,2800
6 Finings EA. 1800.00 I2 13,450.00 3 31,350(0 l 11,90000 II 16.100011
1 Tic to Exiaing System EA. 11,2500 2 12,50D CO 2 12,50.0 2 52.510.0 6 51,509
Subtotal _ 1222,620.00 586.690 00 $120.470.00 1429,75000
STREETS
Curb&Gutter&Sidewalk L . 120.0 _ 14,4(0 1248,000 OD 2,40 148,00 0 1,00 1140,000 CO 21.800 1436.020 OD
AcccllDl W 0 0 0 0 Lanes EA. 153,0 . I 155, 0. 1 135.00 0 1 0 0 2
cee 1110,000
Lasdscaping L.F. 120.00 2,500 151000.00 1,20 524.0000 1.20 124,000.0 4.900 198.00000
Si C.Y. 13.0 50,00 1151,000.0 50.0 51,00 1150.00.0 10,00 130,00.0
Eery Faye EA. 1150,000 00 I 1151,000 500 1 1155,00.0 2 1300,000
CurbResmw/Ramp EA. 11,100 00 4 14,40.0 1 14,40.0 4 14,4000 _ • 12 113,200
Cross Pam EA. 11,100 00 2 32,1(0.0 I 11,100 I 11,100 OD 4 14,402 00
Asphalt S.Y. 5100 23,40 1163,81:0 00 4,501 131,5[0 03 13.20 191,400 00 41,103 1211,100
Base Ceurs 5.Y. 11.0 2,10 1163,800 CO 4,500 131,503 03 13,20 192,400 OD 41,10 1117,7120 00
1 Conduits L5. 13,203 00 2 16,/00 I 53,200 I 13,100.0 4 112,80.0
1 tralf Control1..s. 51.5110.00 I 51,500 00 I 31,355 X500 2 53.000.00
I Bridle Widening L.5. 110,000 I 110,000.0 300 100 1 310,00.0
I Ditch Cronin& L5. 330,000.0 10.CO 10(0 I 550,0000 1 550,0105
I WCR 19 Widening 1.S. 10 0 30.0 10 0 0 10.0
I Hwy 392 Auxiliary lanes 1.5. _ X10 X10 50.0 0 X1.0
Subtotal 51,095,/5.00 529.201.00 571).300.00 71.00;50.00
STORM SEWER
I Pipe I..F. 1600 4,10 3282,030 00 •
100 0 0 4,000 5240, 0 8,10 1522,0W 03
2 Mahoks EA. 52,0005 13 524,000 03 305 10 520,059 22 144,0005
3 Flare End Sections EA. 53(0 00 4 11,200 509 3 390.5 1 11,105
4 Inlets EA. 13,000.0 20 160,000 00 _ S00 15 145,000.0 35 1505,020 00
6 Erosive Cadrol L.5. 14000.0 I 14,000 CO I 14.000.0 I 14.000 00 3 112,000 03
Subtotal 5371.20.0 14000 00 $309.990 5685,100 00
-
IRRIGATION WATERLINE _
I I'PVC L.F. 126.0 8,40 1218,400 00 60 115,600 10.0 9,00 1234,000 0)
2 Pump Station EA. 180,000 CO 1 180,00.0 _ X15 I 130,0W 09 0 2 1130, 0-0
3 Intake S EA. 115, 0 1
eucws 0 0 125,020 00 10.0 10.0 I 125.000 CO
4 Gale Valves EA. 1690.5 5 13,450.5 X00 _ 50.0 5 13,451.5
5 finings F.A. 3855 4 315,255 2 51,855 5000 6 1110,1%05
6 Ditch Crossing L.S. 110,000 03 I 140,05.5 _ 30.00 30.0 1 540,000 03
Subtotal 7476.0305 123.4009 550,095 1549,450.9
_ PARKS&OPEN SPACE _
I Parks&Oven Spare _ _I5 11!00059 5000 30.5 I 51,000,055 I 51.000,000 00
Total 32(9,11000 1114 19000 S23991,670c 15,361,13000
Fxe1q,ng,AdMnbbabn,a Engineering 03941 5851,051 00 394,287 Ik1 50105115 51.610,139 00
GRAND TOTAI. _ 13,118,221.00 5408.511.00 53,110,4110 11,231,369.0
Shat l of l 7,27 CO
TABLE 8
Operation and Maintenance Cost Estimate
TABLE
WINTER FARM
IYIETROPOLITAN DISTRICT NO. 1
OPERATIONS • ESTImAn
YEAR TOTAL
2002 $45,000
2003 $46,575
2004 $48,205
2005 $49,892
2006 $51,639
2007 $53,446
2008 $55,316
2009 $57,253
2010 $59,256
2011 $61,330
2012 $63,477
2013 $65,699
2014 $67,998
2015 $70,378
2016 $72,841
2017 $75,391
2018 $78,029
2019 $80,760
2020 $83,587
2021 $86,513
2022 $89,540
2023 $92,674
2024 $95,918
0947-0C0
7/13/CO
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