2. 3. 4. a. 5. · Mr. Hosana spoke to Council about the proposed development of the property. Council Comments:

1

TOWN OF TIMNATH TOWN COUNCIL

Tuesday, March 27, 2018 IMMEDIATELY FOLLOWING THE TIMNATH DEVELOPMENT AUTHORITY MEETING, at 6:00 p.m.

4800 Goodman Street, Timnath, Colorado

1. CALL TO ORDER AND ROLL CALL Mayor Jill Grossman-Belisle Mayor Pro Tem Bryan Voronin Councilmember Bill Neal Councilmember Aaron Pearson Councilmember Paul Steinway

2. AMENDMENTS TO THE AGENDA: Note: The Council may add to this agenda, any item for discussion or action.

3. PUBLIC COMMENT: Note: It is requested that public comments be limited to three minutes. When several people wish to

speak with the same position, they are requested to select a spokesperson to state that position.

4. CONSENT AGENDA a. Approval of the March 20, 2018, Town Council Meeting Minutes b. Approval of the Check Register

5. REPORTS

a. Mayor and Council b. Staff

6. BUSINESS

a. ORDINANCE NO. 9, SERIES 2018, Public Hearing, An Ordinance Amending Chapter 7, Article 2, of the Timnath Municipal Code Regarding Nuisance Odors

Presented by Robert Rogers, Contracted Town Attorney

b. RESOLUTION NO. 26, SERIES 2018, A Resolution Approving a Voluntary Collection Agreement for Timnath Lodging Tax


c. RESOLUTION NO. 27, SERIES 2018, A Resolution Approving the Farming Lease for 6644 Highway 14

Presented by Brian Williamson, Contracted Town Planner

d. RESOLUTION NO. 28, SERIES 2018, A Resolution Approving the Grazing Lease for 6644 Highway 14

Presented by Brian Williamson, Contracted Town Planner

e. RESOLUTION NO. 29, SERIES 2018, A Resolution Approving a Consolidated Service Plan for Rendezvous Metropolitan District Nos. 1-5


f. EXECUTIVE SESSION: “For the purposes of discussion concerning the purchase, acquisition, lease, transfer, or sale of real, personal, or other property interests under Section §24-6-402(a), C.R.S.; discussion concerning personnel matters under §24-6-402(4)(f), C.R.S.; discussion regarding

2

positions relative to matters that may be subject to negotiations and development of a strategy for negotiations under §24-6-402(4)(e), C.R.S.; and conferences with the Town’s attorney for purposes of receiving legal advice on specific legal questions under §24-6-402(4)(b), C.R.S.”


7. ADJOURNMENT

1

Town of Timnath Regular Meeting Minutes Tuesday, March 20, 2018

IMMEDIATELY FOLLOWED THE TIMNATH LIQUOR BOARD AND TIMNATH DEVELOPMENT AUTHORITY MEETING, at 6:00 p.m.

Meeting was held at Timnath Administration Building, 4800 Goodman Street, Timnath, Colorado

1. CALL TO ORDER AND ROLL CALL:

Mayor Pro Tem Voronin called to order the meeting of the Town Council on Tuesday, March 20, 2018, at 6:07 p.m.

Present: a. Mayor Pro Tem Bryan Voronin b. Councilmember Bill Neal c. Councilmember Aaron Pearson Absent: a. Mayor Jill Grossman-Belisle b. Councilmember Paul Steinway

Also Present: a. April Getchius, Town Manager b. Milissa Peters, Town Clerk c. Robert Rogers, Contracted Town Attorney d. Matt Blakely, Contracted Community Development Director e. Brian Williamson, Contracted Town Planner f. Kevin Koelbel, Contracted Town Planner g. Phil Goldstein, Timnath Resident h. Laura Olive, Applicant i. Bob Hosana, Neenan Company

2. AMENDMENTS TO THE AGENDA: a. NONE

3. PUBLIC COMMENT ON NON-AGENDA ITEMS:

a. NONE

4. CONSENT AGENDA: a. Approval of the February 27, 2018, Town Council Meeting Minutes b. Approval of the Check Register

Councilmember Pearson moved to approve the consent agenda. Councilmember Neal seconded the motion. The motion passed unanimously by voice vote.

2

5. REPORTS: a. Mayor/Council

i. April 4th Elected Officials dinner ii. Candidate Forum success

iii. Mr. Belisle funeral service

6. BUSINESS: a. RESOLUTION NO. 21, SERIES 2018, PUBLIC HEARING, A Resolution

Approving the Minor Subdivision Plat for 4033 Kern Street Staff Comments:

Mr. Blakely spoke to Council about the proposed resolution. Council Comments:

Mayor Pro Tem Voronin asked about the existing out buildings and Ms. Olive stated that the out buildings would be demoed.

Councilmember Neal moved to approve RESOLUTION NO. 21, SERIES 2018, PUBLIC HEARING, A Resolution Approving the Minor Subdivision Plat for 4033 Kern Street. Councilmember Pearson seconded the motion. The motion passed unanimously by voice vote.

b. RESOLUTION NO. 22, SERIES 2018, PUBLIC HEARING, A Resolution Approving the Riverbend Timnath Minor Subdivision, Lots 1-3 of the Riverbend Subdivision

Staff Comments: Mr. Koelbel spoke to Council about the proposed resolution.

Applicant Presentation:

Mr. Hosana spoke to Council about the proposed development of the property. Council Comments:

Councilmember Neal asked about parking lot lighting and Mr. Koelbel explained the size and type of lighting expected.

Council discussed the need for EV Stations and it was explained that the owner association would be responsible for completion of the stations.

Councilmember Neal moved to approve RESOLUTION NO. 22, SERIES 2018, PUBLIC HEARING, A Resolution Approving the Riverbend Timnath Minor Subdivision, Lots 1-3 of the Riverbend Subdivision. Councilmember Pearson seconded the motion. The motion passed unanimously by voice vote.

c. RESOLUTION NO. 23, SERIES 2018, A Resolution Approving the Riverbend Timnath Site Plan, Lots 1-3 of Riverbend Subdivision

Staff Comments:

3

Mr. Koelbel spoke to Council about the proposed resolution. Councilmember Neal moved to approve RESOLUTION NO. 23, SERIES 2018, A Resolution Approving the Riverbend Timnath Site Plan, Lots 1-3 of Riverbend Subdivision. Councilmember Pearson seconded the motion. The motion passed unanimously by voice vote.

d. RESOLUTION NO. 24, SERIES 2018, A Resolution Approving the Annual

Agreement with Larimer County Weed District Staff Comments:

Mr. Williamson spoke to Council about the proposed resolution. Councilmember Neal moved to approve RESOLUTION NO. 24, SERIES 2018, A Resolution Approving the Annual Agreement with Larimer County Weed District. Councilmember Pearson seconded the motion. The motion passed unanimously by voice vote.

e. RESOLUTION NO. 25, SERIES 2018, A Resolution Approving the Intergovernmental Agreement Between the Town of Timnath and the Town of Severance

Staff Comments: Mr. Rogers spoke to Council about the proposed resolution. Letter from Drapac

included in the minutes. Councilmember Pearson moved to approve RESOLUTION NO. 25, SERIES 2018, A Resolution Approving the Intergovernmental Agreement Between the Town of Timnath and the Town of Severance. Councilmember Neal seconded the motion. The motion passed unanimously by voice vote.

7. ADJOURNMENT:

Mayor Pro Tem Voronin adjourned the meeting 6:46 p.m. Town Council approved the March 20, 2018, Town Council Meeting Minutes on March 27, 2018. TOWN OF TIMNATH _____________________________________ Jill Grossman-Belisle, Mayor ATTEST: ______________________________________ Milissa Peters, CMC Town Clerk

March 19, 2018 Honorable Mayor Don Brookshire And Board of Trustees Town of Severance, Colorado Honorable Mayor Jill Grossman‐Belisle And Council Members Town of Timnath, Colorado Dear Honorable Mayors, Trustees & Council Members: Re: Intergovernmental Agreement/Buffalo Creek Annexation Settlement Agreement Nearly two years ago our Chairman, Michael Drapac, personally visited your communities to present to the Town of Severance Board of Trustees, the Drapac Capital Partners vision for a vibrant, sustainable community at our Buffalo Creek property. Shortly thereafter we closed upon the purchase of Buffalo Creek through our wholly‐owned affiliate, Stars & Stripes 3Q, LLC. In addition to our initial investment to purchase the property, we since have made substantial additional investment through the mandatory bond payments to Boxelder District, property taxes and debt service, and of course the funding of the annexation‐related litigation between and among the Towns and Stars & Stripes. We are very pleased that we now have been able to come to an accommodation with the Town of Timnath to address the Buffalo Creek impacts upon Timnath’s jurisdiction, and we also are equally pleased that the two Town staffs and respective legal counsel have jointly prepared and support the Intergovernmental Agreement which is a condition to our own Settlement Agreement with Timnath. Unfortunately, we are not able to attend the Severance Board of Trustees meeting tonight or the Timnath Town Council meeting tomorrow night in person; however, we have asked that this letter be read at both meetings due to the critical importance of these approvals to us. While the past two years unfortunately have been a time of material disagreement and considerable litigation expense between well‐intentioned parties, including ourselves, it is important to note that, at

2

the end of the day, all three parties—Severance, Timnath, and Drapac Capital Partners—have now come to a proposed conclusion in a spirit of compromise, respect, and commercial reasonableness. As with any negotiation and compromise, no party has received 100% of that which it felt was deserved or warranted; yet, each party has accomplished the key, material points which were most important to its own position. More importantly, this resolution is in the best interest of each Town’s existing residents and our future residents at Buffalo Creek. And significantly, the Settlement Agreement and Intergovernmental Agreement collectively provide a template and established pathway toward sustained inter‐governmental cooperation with future projects which also will impact both Towns.

Therefore, we strongly urge and respectfully request that you approve the proposed Intergovernmental Agreement, which then will satisfy the required condition of our Settlement Agreement. The Intergovernmental Agreement has the support of both Town’s staffs and legal counsel, after much hard work and diligence by those professionals on behalf of their respective Town’s.

This approval will enable us then to move forward with our design plans for Buffalo Creek, which have been on hold pending resolution of the annexation dispute. We look forward to helping create a great sense of place within the Town of Severance, but also a quality community which the Town of Timnath can proudly share as its adjacent neighbor.

Sincerely,

Costa Alexiou Chief Executive Officer, on behalf of Stars & Stripes 3Q, LLC

Cc: Town Managers Town Counsel Max Cookes, Executive Director, DCP Joel Tew, General Counsel, DCP Michael Drapac, Chairman, DCP

Town of Timnath Payment Approval Report - Check Register Page: 1

Report dates: 12/1/2017-3/31/2018 Mar 21, 2018 11:40AM

Vendor Vendor Name Invoice Number Description GL Period Date Net Invoice Amount

4Rivers Equipment

424327

490 4Rivers Equipment 424327 1445 Relay 02/28/2018 12.78

Total 424327: 12.78

424939

490 4Rivers Equipment 424939 1445 Relay Return 02/28/2018 12.78-

Total 424939: 12.78-

439563

490 4Rivers Equipment 439563 Printed CI Return 03/31/2018 122.86-

Total 439563: 122.86-

440200

490 4Rivers Equipment 440200 John Deere Service and Repair 03/31/2018 1,476.75

Total 440200: 1,476.75

Total 4Rivers Equipment: 1,353.89

Accuracy Enterprises

03162018

413 Accuracy Enterprises 03162018 New officer Training and Qualificat 03/31/2018 180.00

Total 03162018: 180.00

Total Accuracy Enterprises: 180.00

Adamson Police Products

INV268258

758 Adamson Police Products INV268258 Uniform Pants 03/31/2018 100.00

Total INV268258: 100.00

INV268328

758 Adamson Police Products INV268328 Uniform for Meckley 03/31/2018 675.00

Total INV268328: 675.00

Total Adamson Police Products: 775.00

Background Information Service, Inc

114590

861 Background Information Service, I 114590 Background serivce on Meckley 02/28/2018 20.00

Total 114590: 20.00

Total Background Information Service, Inc: 20.00

ChemaTox Laboratory, Inc

26154

778 ChemaTox Laboratory, Inc 26154 BAC Test 18-035 02/28/2018 335.00

Total 26154: 335.00




26154A

778 ChemaTox Laboratory, Inc 26154A BAC Test 18-56 03/31/2018 25.00

778 ChemaTox Laboratory, Inc 26154A BAC Test 03/31/2018 3.50

Total 26154A: 28.50

Total ChemaTox Laboratory, Inc: 363.50

Coloradoan

3032540

11 Coloradoan 3032540 Notice for 4033 Kern Street 02/28/2018 26.63

Total 3032540: 26.63

Total Coloradoan: 26.63

Craft Trophy Co

44046

748 Craft Trophy Co 44046 Trophy 03/31/2018 32.00

Total 44046: 32.00

Total Craft Trophy Co: 32.00

Fort Collins Dodge

193467

699 Fort Collins Dodge 193467 2010 Dodge Service 03/31/2018 83.39

Total 193467: 83.39

Total Fort Collins Dodge: 83.39

FORT COLLINS LOVELAND WATER DIST

MAR 2018

14 FORT COLLINS LOVELAND WAT MAR 2018 Mar 2018 Irrigation 5990 Harmony 03/31/2018 18.40

14 FORT COLLINS LOVELAND WAT MAR 2018 Mar 2018 Irr-4602 Signal Tree 03/31/2018 18.40

14 FORT COLLINS LOVELAND WAT MAR 2018 Mar 2018 4800 Goodman Street 03/31/2018 71.79

14 FORT COLLINS LOVELAND WAT MAR 2018 Mar 2018 5500 Summerfield Park 03/31/2018 66.99

14 FORT COLLINS LOVELAND WAT MAR 2018 Mar 2018 Irrigation Weitzel St 03/31/2018 18.40

14 FORT COLLINS LOVELAND WAT MAR 2018 Feb 2018 4104 Main Street 03/31/2018 43.42

14 FORT COLLINS LOVELAND WAT MAR 2018 Mar 2018 3930 Main St 03/31/2018 18.40

14 FORT COLLINS LOVELAND WAT MAR 2018 Mar 2018 4201 Main Street 03/31/2018 43.40

Total MAR 2018: 299.20

Total FORT COLLINS LOVELAND WATER DIST: 299.20

Fraud Hotline LLC

6443

668 Fraud Hotline LLC 6443 2018 Fraud Hotline Renewal 03/31/2018 250.00

Total 6443: 250.00

Total Fraud Hotline LLC: 250.00

Front Range Pest Control

28528

727 Front Range Pest Control 28528 2018 Pest Control-4104 Main Stre 03/31/2018 75.00




Total 28528: 75.00

28529

727 Front Range Pest Control 28529 2018 Pest Control-1402 Main Stre 03/31/2018 75.00

Total 28529: 75.00

28530

727 Front Range Pest Control 28530 2018 Pest Control 03/31/2018 160.00

Total 28530: 160.00

28531

727 Front Range Pest Control 28531 2018 Pest Control-WildWing Hous 03/31/2018 160.00

Total 28531: 160.00

Total Front Range Pest Control: 470.00

Front Range Raynor

181805

671 Front Range Raynor 181805 4104 Main Street Repairs 03/31/2018 735.00

Total 181805: 735.00

Total Front Range Raynor: 735.00

LARIMER COUNTY SALES/USE TAX

FEB 2018

22 LARIMER COUNTY SALES/USE FEB 2018 Feb 2018 Larimer Use Tax 02/28/2018 20,605.77

22 LARIMER COUNTY SALES/USE FEB 2018 Feb 2018 Larimer Use Tax Admin 02/28/2018 686.79-

Total FEB 2018: 19,918.98

Total LARIMER COUNTY SALES/USE TAX: 19,918.98

Liberty Firearms Institute

50009

794 Liberty Firearms Institute 50009 2018 Membership 03/31/2018 2,784.00

Total 50009: 2,784.00

Total Liberty Firearms Institute: 2,784.00

Megan Garn

ASPA 2018

897 Megan Garn ASPA 2018 2018 ASPA Travel Reimbursemen 03/31/2018 211.13

Total ASPA 2018: 211.13

Total Megan Garn: 211.13

MOBILE LAB

S64861

534 MOBILE LAB S64861 Annual CDL Membership Renewa 03/31/2018 275.00




Total S64861: 275.00

Total MOBILE LAB: 275.00

Northern Colorado Air, Inc

146047

654 Northern Colorado Air, Inc 146047 2018 Contract Billing 03/31/2018 540.00

Total 146047: 540.00

Total Northern Colorado Air, Inc: 540.00

SAFEbuilt Colorado, Inc.

38410-IN

12 SAFEbuilt Colorado, Inc. 38410-IN Feb 2018 Building Permits 02/28/2018 64,862.43

Total 38410-IN: 64,862.43

Total SAFEbuilt Colorado, Inc.: 64,862.43

Simplot Partners Denver

211016311

863 Simplot Partners Denver 211016311 Fertilizer 03/31/2018 4,920.00

Total 211016311: 4,920.00

Total Simplot Partners Denver: 4,920.00

Tri-City Security

2541TS

596 Tri-City Security 2541TS Door knob replacement 03/31/2018 199.40

Total 2541TS: 199.40

Total Tri-City Security: 199.40

University of Colorado Health

2028556156

896 University of Colorado Health 2028556156 Blood Draw - A.R. 02/28/2018 141.70

Total 2028556156: 141.70

Total University of Colorado Health: 141.70

Xcel Energy

575015485

47 Xcel Energy 575015485 Dec 2017 ESL Lights 12/31/2017 63.08

Total 575015485: 63.08

576596243

47 Xcel Energy 576596243 Jan 2018 3909 Main Street 01/31/2018 16.99

Total 576596243: 16.99

577017745

47 Xcel Energy 577017745 Jan 2018 5096 County Road 38 01/31/2018 87.56




Total 577017745: 87.56

577114923


Total 577114923: 149.29

577115053


Total 577115053: 315.55

577333385


47 Xcel Energy 577333385 Jan 2018 5500 Summerfield Park 01/31/2018 457.80

Total 577333385: 731.47

577492375

47 Xcel Energy 577492375 Jan 2018 68W-7N-34-21/08 Area 01/31/2018 33.91

Total 577492375: 33.91

577642910

47 Xcel Energy 577642910 Jan 2018 2221 S County Line Ro 01/31/2018 25.35

Total 577642910: 25.35

578373735

47 Xcel Energy 578373735 Jan 2018 4800 Goodman Street 01/31/2018 1,026.61

Total 578373735: 1,026.61

578909195

47 Xcel Energy 578909195 Jan 2018 Tax Address 01/31/2018 4,501.93

Total 578909195: 4,501.93

579030237

47 Xcel Energy 579030237 Jan 2018 ESL Lights 01/31/2018 60.76

Total 579030237: 60.76

580402157

47 Xcel Energy 580402157 Feb 2018 3909 Main Street 02/28/2018 16.81

Total 580402157: 16.81

580739289

47 Xcel Energy 580739289 Feb 2018 4100 Main Street Lights 02/28/2018 222.80

Total 580739289: 222.80

580925186





Total 580925186: 123.40

581015283

47 Xcel Energy 581015283 Feb 2018 5096 County Road 38 02/28/2018 76.00

Total 581015283: 76.00

581157647

47 Xcel Energy 581157647 Feb 2018 68W-7N-34-21/08 Area 02/28/2018 33.60

Total 581157647: 33.60

581163036


47 Xcel Energy 581163036 Feb 2018 5500 Summerfield Park 02/28/2018 481.96

Total 581163036: 702.62

581620181

47 Xcel Energy 581620181 Feb 2018 2221 S County Line Ro 02/28/2018 30.90

Total 581620181: 30.90

582370850

47 Xcel Energy 582370850 Feb 2018 Tax Address 02/28/2018 4,624.27

Total 582370850: 4,624.27

582459797

47 Xcel Energy 582459797 Feb 2018 ESL Lights 02/28/2018 60.76

Total 582459797: 60.76

582531874

47 Xcel Energy 582531874 Feb 4800 Goodman Street 02/28/2018 1,022.80

Total 582531874: 1,022.80

583838307

47 Xcel Energy 583838307 Mar 2018 3909 Main Street 03/31/2018 16.55

Total 583838307: 16.55

Total Xcel Energy: 13,943.01

Grand Totals: 112,384.26




Dated: ______________________________________________________

Mayor: ______________________________________________________

City Council: ______________________________________________________

______________________________________________________

______________________________________________________

______________________________________________________

______________________________________________________

______________________________________________________

City Recorder: _____________________________________________________

TOWN COUNCIL COMMUNICATION Date: 3/21/18 Council Meeting Date: 3/27/18

Item: Finance Update Report

Ordinance

Resolution

Discussion

For Information X Presented by: Christine Harwell

1.) Financial statements have not been included in March’s staff reports. The Town has recently undertaken

a resident survey to provide feedback on priorities related to Town capital projects, annual events, and various initiatives. Town staff and Council will be reviewing the survey results in the upcoming weeks to determine the impact on amending the 2018 Town Budget. It is anticipated with amendment to the budget, Town staff will resume including interim financial statements in either April or May.

TOWN COUNCIL COMMUNICATION MeetingDate:March27,2018

Item:

Engineering&PublicWorksReportOrdinanceResolution

ForInformationXPresentedby:DonTaranto

KEYPOINTS/SUPPORTINGINFORMATION:

1. OldTownPhase2–Southa. Workresumingasweatherpermits.Contractorhasbeencompletingconcreteworkas

weatherconditionsallow.Theyhavebeenstartingsprinklersystemrepairsandwillbeinstallingsodwhenyardsarereadyanditisavailable.AnticipatingfullcompletionendofApriltomid‐May–weatherdependent..

2. PublicWorksMaintenanceProjectsa. StreetMaintenance–pendingspringb. Streetstriping–pendingspring

3. DevelopmentConstructionActivitiesa. WildWing2B–Constructionunderway.Utilitiescompleteb. WildWing3B–Constructionunderway.Curbandguttercompletec. TimnathRanch3rdFiling–SchoolHouseDrcomplete.Pendingstreetlightsd. TimnathRanch6thFiling–Utilityconstructionunderwaye. TimnathRanch7thfiling–ConstructionUnderwayf. SerratogaFallsPh.2‐Constructionunderwayg. Harmony3rdFiling–InitialAcceptancegranted

4. CommercialConstructionActivitiesa. Wendy’s–constructionscheduledtobeginthisspring

TOWN COUNCIL COMMUNICATION Meeting Date:

March 27, 2018

Item:

Community Development Report Ordinance

Resolution

Discussion

For Information X

Presented by:

Matt Blakely,

Community Development

Director

KEY POINTS/SUPPORTING INFORMATION:

1. Issued Building Permits: 2016 Single-Family Residential Total = 161 (Budget 171) 2017 Single-Family Residential Total = 278 (Budget 274) 2018 Single-Family Residential Budgeted = 264 2018 Single-Family Residential February = 20 (Budget 22) 2018 Single-Family Residential March = 11 (Budget 22) 2018 Single-Family Residential ready to be issued = 18 2018 Single-Family Residential under review = 11 2018 Single-Family Residential YTD (1/1/18 to 3/21/18) = 43 2018 Budget through March = 66

2. Current Development Actions:

a. 4033 Kern Street Minor Subdivision: This is a Minor Subdivision application for the

property located at 4033 Kern Street. The proposal is to subdivide the existing 9,500 square

foot lot into two individual lots of 5,337 and 4,163 square feet. The Town Staff has received a

submittal and it is currently under review. The Planning Commission held a public hearing on

the Minor Subdivision on 3/6/2018 and recommended approval by a 5-0 vote to Town

Council. The Town Council held a public hearing on the Minor Subdivision on 3/20/2018 and

approved the Minor Subdivision by a 3-0.

b. 4025 Kern Street Minor Subdivision: This is a Minor Subdivision application for the

property located at 4025 Kern Street. The proposal is to subdivide the existing 17,353 square

foot lot into two individual lots of 9,500 and 7,853 square feet. The Town Staff has received a

submittal and it is currently under review.

c. Rendezvous Subdivision Preliminary Plat: This is a Preliminary Plat application of

approximately 569 single-family residential lots and 2 future development tracts for the

Rendezvous Subdivision. The Town Staff has received a submittal and it is currently under

review.

d. Fisher Subdivision Preliminary Plat: This is a Preliminary Plat application of approximately

214 single-family residential lots and 2 future development tracts for the Fisher Subdivision.

The Town Staff has received a submittal and it is currently under review.

e. Wendy’s Site Plan: This is a site plan application for a 3,150 square foot Wendy’s restaurant

with drive-thru and indoor seating located east of Weitzel Street and north of Les Schwab Tire

Center. The application is currently under review.

f. Neenan Minor Subdivision: This is a minor subdivision application to combine lots 1, 2, and

3 of the Riverbend Subdivision into a single lot. The application is currently under review.

The Planning Commission held a public hearing on the Minor Subdivision on 3/6/2018 and

recommended approval by a 5-0 vote to Town Council. The Town Council held a public

hearing on the Minor Subdivision on 3/20/2018 and approved the Minor Subdivision by a 3-0.

g. Neenan Site Plan: This is a site plan application for 2 multi-tenant commercial buildings that

total roughly 28,000 square feet in the Riverbend Subdivision. This application is being

reviewed against the Interim Harmony Corridor Plan as well as the Town’s Land Use Code.

The Planning Commission held a hearing on the Site Plan on 3/6/2018 and recommended

approval by a 5-0 vote to Town Council. The Town Council held a hearing on the Site Plan on

3/20/2018 and approved the Site Plan by a 3-0.

ADVANTAGES:

N/A

DISADVANTAGES:

N/A

FINANCIAL IMPACT:

N/A

RECOMMENDATIONS: N/A

ATTACHMENTS: 1. Building Department Stats 2. Code Enforcement Report

Phone: (970) 224-3211 FAX: (970) 224-3217 www.timnathgov.com 4800 Goodman St. Timnath, CO 80547

MEMORANDUM

TO: Timnath Town Council

FROM: Matt Blakely, Community Development Director

Alisa Davidson, Building Permit Technician

RE: Timnath Single-Family Building Permits – YTD 3/21/18

DATE: March 27, 2018

2016 Jan Feb March April May June July Aug Sept Oct Nov Dec # Permits issued in 2016 for Single Family Homes

15 9 12 13 16 8 14 8 11 11 40 4 161

Commercial-7


9 30 48 28 21 28 36 19 19 13 18 9 278

Commercial- 1


12 20 11 43

Commercial-

2010 2011 2012 2013 2014 2015 2016 2017 2018 Average Valuation

Brunner Fram 27 31 59 6 375,458.73$

Fairview Village 1 1 8 7 7 231,185.47$

Harmony (1st and 2nd) 13 17 12 23 13 8 6 3 522,737.95$

Harmony 3rd Filing Single Family

Harmony 3rd Filing Paired Homes

Harmony (4th) 11 22 16 9 421,881.17$

Harmony (5th) 10 3 455,000.00$

Rendezvous 1st Filing

Serratoga Falls 1 2 1 9 4 3 6 12 4 381,273.48$

Serratoga Falls 2nd Filing

Timnath Landing 1st Filing

Timnath Ranch-1st Filing 2nd Amend 0 0 0 3 35 49 50 50 6 350,897.53$

Timnath Ranch-3rd Filing 24 45 21 5 0 0 34 9 268,571.58$

Timnath Ranch - 6th Filing

Timnath Ranch - 7th Filing

Timnath South-1st Filing 27 58 82 89 23 5 305,238.55$

Timnath South 1st Filing 2nd Amend 50 46 14 11 2 302,518.59$

Timnath South- 2nd Filing(Preserve) 1 9 8 8 2 361,453.03$

Timnath South 1st Filing 3rd Amend 19 58 1 254,555.14$

Wildwing 1st Filing 0 0 8 20 21 28 8 5 2 403,133.71$

Wildwing 2nd Filing 6 27 10 366,800.54$

Total 67 132 140 164 166 183 161 278 43 330,993.21$

Foundation Only Permit 3 1 1

Modular Home 1

Commercial 2 8 3 7 1

$55.10

Hours Billing Billing Worked Rate Amount1 2/5/2018 4 4 1 0 0 0 8 $55.10 $440.802 2/12/2018 4 2 1 0 0 0 8 $55.10 $440.803 2/19/2018 5 5 0 1 0 0 4 $55.10 $220.404 2/26/2018 4 4 0 0 0 0 4 $55.10 $220.405 $55.10 $0.00

$100.00 $100.00

Case Totals Re‐Inspections Opened Closed Requests Referred to Court 24.00 15 2 1 0 0 Total Due: $1,422.40

Referred to Court

Code Enforcement Software Use

Total Hours Worked:

Code Activity Dates Active Cases Scheduled Re-Inspections Cases Opened Cases Closed Requests

Enter Billing Rate/Hr:

SAFEbuilt Code Enforcement Billing

Jurisdiction Timnath

Timeframe: February 2018

TOWN COUNCIL COMMUNICATION

Meeting Date: 3/27/2018

Item: February 2018 Law Enforcement Update

For Information

Presented by: Sherri Wagner

1) Officer Betrus completed her training program and was assigned to the early swing shift on the early end of the week (Sunday through Wednesday). Officer Betrus immediately picked up a major case and was involved in search and arrest warrants, interviews, and forensic interviews at the Child Advocacy Center. Officer Betrus was introduced and sworn in during a council meeting in February.

2) All required elements were completed on one of our candidates. Officer Jacob Meckley began with Timnath on March 5. He is an excellent addition to our work group. Officer Meckley is from Larimer County Sheriff’s Office and a Timnath resident. Our team is excited he has joined us.

3) The second candidate decided to remain in Florida. A new job posting will occur and we will start a new process. All northern Colorado departments are hiring. Our pool of candidates is becoming smaller but we are getting good candidates within the smaller pool.

4) Officer Tope became a certified instructor for tasers and was certified to provide maintenance and inspections on our handguns

5) All evaluations for officers, sergeant, and police technician were completed.

6) Officer Betrus presented a community safety talk concerning fraud and identity theft and actions to protect personal information. Attendance was limited and we will explore other types of delivery options.

7) We completed 27 cases and had 25 supplements to cases that consisted of follow-up, warrants, search warrants, filings, evidence collection and photographic line-ups

La

Law Enforcement Incidents

Timnath Police Dept Jan‐18 Feb‐18

Call TypeAlarm 4 6

Animal 5 3

Assist Other 7 9

Child Welfare 1

Directed Patrol/School/Extra 423 375

Drug 2 1

Follow‐up 19 24

Fraud 3 3

Hang up‐ 911 1

Harassment 2 1

Lost/found Property 2 1Reddi Report 3 1

Private Tow 2 1

Safe To Tell 1

Subject Stop 11 8

Suicide Threat 2 1

Theft 8 7

Traffic 95 74

Trespass 1

Vehicle Accident/non‐inj 6 7

VIN check 1

Warrant 2 1

Welfare Check 6 4

Total Incidents 636 532

Supplements to ongoing cases 23 25

Total cases 36 27

LCSO Response & Call Type Jan‐18 Feb‐18

Call TypeAlarm 6 2

Assist Other 2 2Directed, Extra Patrol/School 21 19

Drug 1

Motor Vehicle Accident 1 1Suspicious Circumstance 7 2Traffic 14 19

Warrant 1 3

Welfare Check 1 1

Total Incidents 59 49

Total Cases 4 2

Phone: (970) 224-3211 FAX: (970) 224-3217 www.timnathcolorado.org 4800 Goodman St. Timnath, CO 80547

To: Town Council and Community From: April D. Getchius, AICP Town Manager Date: March 21, 2018 Subject: Town Manager’s Report

Community Survey. The Community Survey is complete. We had 549 responses plus the interviews with three focus groups. Many thanks to staff and Magellan Strategies for the hard work in getting the surveys out, conducting the focus groups, and compiling the results. A special thanks to all the residents who participated! As we finalize the results, we will work with Council to share the information with the community. Town Beautification and Cleanup. This event will be held 8 am to noon on April 21, 2018. Dumpsters will be located at Bethke Elementary and Timnath Elementary. In addition, we will have the opportunity to donate items at both locations. Regional Municipal Meeting with Larimer County. Timnath will be hosting this meeting on April 4 at the Timnath Administration Building. Dinner will be served at 5:30 p.m. and the meeting will begin at 6 p.m. I have reserved seven spaces for the Town. Please let me know if you’ll be able to attend. Council candidates can also put this on their calendar pending the outcome of the April 3 election as well as the dates below. Colorado Municipal League Meetings. There are a number of CML meetings coming in the upcoming months. Please let me know your availability/interest in attending:

CML Annual Meeting – June 19-22 in Vail. Spring Outreach Meetings – May 24, 10-11:30 a.m. in Windsor. This will include a

“Essentials for Elected Officials” training from 8:30 am to 10 am.

Icompass Packets. The Town will be moving to a new Council/Planning Commission packet system called Icompass. It is a nominal cost but allows us to create draft and regular packets through a web portal, provides greater consistency in packet preparation, and streamlines the final packet preparation which is currently a cumbersome, multiple PDF compilation process. We will formally launch the system for the April 24 Council meeting. We can still have paper packets available by request. The access to the packets for the Council/Planning Commission should easy but will be a web-based access.

Economic Development. The staff has been working with the retail attraction firm Buxton to gather new information on our trade area and shoppers within it. We will compile this information to create a new marketing brochure for the Town in efforts to recruit restaurant and retail to Timnath. As the information is developed, we will share it with Council. Employee Anniversaries. The following employees are celebrating anniversaries with the Town.

Sergeant Robert Wynkoop will have been with the Town for three years on April 1. Thank you, Sarge!

TIMNATH TOWN COUNCIL COMMUNICATION Meeting Date: March 27, 2018

Item: An Ordinance Amending Chapter 7, Article 2 of the Timnath Municipal Code Regarding Nuisance Odors (the “Ordinance”).

Ordinance √Resolution

Discussion

For Information

Presented by: Robert Rogers Town Attorney

EXECUTIVE SUMMARY: Chapter 7, Article 2 of the Timnath Municipal Code (the “Code”) governs nuisances within the Town. Currently, the Code does not contain specific language governing nuisance odors within the Town. This Ordinance allows the Community Development Director or their designee to identify nuisance odors within the Town using an odor measure device. If it is determined that a property is emitting a nuisance odor the Director can require the property owner submit an odor management plan which requires the property owner to mitigate the nuisance odor. STAFF RECOMMENDATION: Staff recommends approval of this Ordinance. KEY POINTS/SUPPORTING INFORMATION:

The Ordinance proposes adding Section 7-2-210 to the Code which defines a nuisance odor and odor complaint.

If a property owner receives three or more odor complaints from separate households within fourteen days or is not in compliance with Colorado Air Quality Control Regulation Number 2, the Community Development Director may require the property owner to develop an odor management plan.

If the property owner fails to comply with the odor management plan, the Community Development Director shall impose a fine of $100 per day for each day the property owner fails to comply.

ADVANTAGES: This Ordinance permits the Town to regulate nuisance odors which previously were not regulated by

the Code.

DISADVANTAGES: None.

FINANCIAL IMPACT: If a property owner fails to comply with the odor management plan the Town will receive the $100 per day fine for each day.

RECOMMENDED MOTION: I move for approval of Ordinance No. 9, Series 2018 A Ordinance Amending Chapter 7, Article 2 of the Timnath Municipal Code Regarding Nuisance Odors

ATTACHMENTS: 1. Ordinance

1

TOWN OF TIMNATH, COLORADO ORDINANCE NO. 9, SERIES 2018

AN ORDINANCE AMENDING CHAPTER 7, ARTICLE 2, OF THE TOWN CODE OF

THE TOWN OF TIMNATH, COLORADO, REGARDING NUISANCE ODORS WHEREAS, the Town of Timnath (the "Town") is a home rule municipality operating under the Timnath Home Rule Charter (the “Charter”) adopted on November 7, 2006 and the Town’s Municipal Code (the “Code”). Pursuant to the Charter, the Code and the authority given home rule municipalities, the Town may adopt and amend ordinances; and WHEREAS, to prevent and control nuisance odors, the Town Council wishes to establish regulations for nuisance odors within the Town; and WHEREAS, the Town Council finds that it is in the best interest of the public health, safety, and welfare to approve the addition of one new section to the Code to regulate nuisance odors within the Town. NOW, THEREFORE, THE COUNCIL OF THE TOWN OF TIMNATH, COLORADO, ORDAINS: ARTICLE 1 – AMENDMENT. The Town Council hereby approves the addition of Section 7-2-210 to the Code: Sec. 7-2-210 – Nuisance Odors This section is enacted to protect, preserve, and promote the health, safety and welfare of the residents of the Town. (1) The following words, terms and phrases, when used in this Article, shall have the meanings ascribed to them in this Section:

Nuisance Odor means the odor is detected after the odorous air has been diluted with two (2) or more volumes of odor free air as determined by two measurements within a period of one hour, these measurements being separated by at least fifteen (15) minutes, outside of the property line of the property from which the emission originates. Measurements will be conducted by a trained employee using an approved odor measuring device. Odor Complaint means a complaint submitted to the Community Development Director or their designee on the Town’s Odor Complaint Form.

Odor Management Plan means the plan submitted for a property that either: (i) has received three (3) or more Odor Complaints by individuals representing separate households or businesses within the Town that have been deemed by the Community Director or their designee as Nuisance Odors within a fourteen (14) day period relating to a single odor or (ii) the property is not in compliance with the Colorado Air Quality Control

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Regulation Number 2 at any time as determined by the Community Development Director. (2) The Community Development Director shall use reasonable efforts to investigate all Odor Complaints and shall undertake enforcement and regulatory measures necessary to abate a Nuisance Odor. Odor Complaints shall be documented on the Town’s Odor Complaint Form. (3) If the same property is the subject of three (3) or more Odor Complaints by individuals representing separate households or businesses within the Town within a fourteen (14) day period the Community Development Director will investigate the odor to determine if it is a Nuisance Odor. (4) If the Community Development Director determines the property is emitting a Nuisance Odor, as defined in this Section, the property owner must submit an Odor Management Plan within fourteen (14) days of receiving notice to do so. (5) If the property is not in compliance with the Colorado Air Quality Control Commission Regulation Number 2 at any time, in the determination of the Community Development Director, the property must submit an Odor Management Plan. (6) The Community Development Director or their designee must review and approve or deny an Odor Management Plan within thirty (30) days after receipt. (7) If the property owner fails to comply with their respective Odor Management Plan, the Community Development Director shall impose a fine of $100 per day for each day the property owner fails to comply with their respective Odor Management Plan. (8) The following are exempt from the odor regulation in this Article: emissions from agricultural, horticultural, or floricultural production such as farming, seasonal crop drying, animal feeding operations that are not housed commercial swine feeding operations as defined in § 25-8-501.1(2)(b), C.R.S., and pesticide application. ARTICLE 2 – SEVERABILITY If any part or provision of this Ordinance, or its application to any person or circumstance, is adjudged to be invalid or unenforceable, the invalidity or unenforceability of such part, provision, or application shall not affect any of the remaining parts, provisions or applications of this Ordinance that can be given effect without the invalid provision, part or application, and to this end the provisions and parts of this Ordinance are declared to be severable. ARTICLE 3 – REPEALER All ordinances or resolutions, or parts thereof, in conflict with this Ordinance are hereby repealed, provided that such repealer shall not repeal the repealer clauses of such ordinance nor revive any ordinance thereby. ARTICLE 4 – EFFECTIVE DATE This Ordinance shall take effect upon adoption at second reading, as provided by Section 3.5.5 of the Charter.

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INTRODUCED, MOVED, AND ADOPTED BY THE TOWN COUNCIL OF THE TOWN OF TIMNATH ON FIRST READING, ON FEBRUARY 27, 2018, AND SET FOR PUBLIC HEARING AND SECOND READING AT 6:00 P.M. ON MARCH 27, 2018, AT THE TIMNATH ADMINISTRATION BUILDING, 4800 GOODMAN STREET, TIMNATH COLORADO AND ORDERED PUBLISHED BY TITLE THE 27TH DAY OF FEBRUARY 2018. MOVED, SECONDED AND FINALLY ADOPTED ON SECOND READING FOLLOWING PUBLIC HEARING BY THE TIMNATH TOWN COUNCIL ON MARCH 27, 2018. TOWN OF TIMNATH, COLORADO _________________________________ Jill Grossman-Belisle, Mayor ATTEST: ________________________________ Milissa Peters, CMC Town Clerk

Odor Complaint Form Date of Odor Nuisance Observed: ______________________

Time of Odor Nuisance Observed: _____________________________

Full Name of Complainant: ____________________________________

Phone Number of Complainant: ___________________________________________________________

Address of Complainant: ________________________________________________________________

Description of Odor Nuisance: ____________________________________________________________

_____________________________________________________________________________________

_____________________________________________________________________________________

Estimated Location of Odor Nuisance: ______________________________________________________

_____________________________________________________________________________________

_____________________________________________________________________________________

Wind or Weather Conditions Observed (if possible): __________________________________________

_____________________________________________________________________________________

FOR COMMUNITY DEVELOPMENT DIRECTOR OR THEIR DESIGNEE USE ONLY

Was this odor deemed in violation with the Colorado Air Quality Control Commission Regulation

Number 2 by the Community Development Director?

If YES, the Community Development Director will inquire about an odor management plan.

Was this odor deemed as a Nuisance Odor by the Community Development Director?

If YES, has this location received three (3) or more Odor Complaints from individuals

representing separate households or businesses within a 14‐day period relating to a single

odor?

o If YES, please contact the Community Development Director to inquire about an odor

management plan.

o If NO, please hold onto this form until the 14‐day period has passed, then you may

archive this complaint form.

If NO, then you may archive this complaint form.

Odor Management Plan Template

1. Table of Contents.

2. Facility Information.

a. Name of facility;

b. Name, phone number, and email of facility owner;

c. Name, phone number, and email of facility operator or licensee, and any authorized designees;

d. Facility physical address;

e. Facility mailing address (if different from physical address);

f. Facility type;

g. Facility hours of operation;

h. Description of facility operations;

i. Emergency contact information;

j. Business license application number(s) and/or business file number(s) (if applicable); and

k. Air permit and permit number (if applicable).

3. Facility Odor Emission Information.

a. Facility floor plan. ‐ This section should include a facility floor plan, with locations of odor‐emitting activity(ies) and emissions specified. Relevant information may include, but is not limited to, the location of doors, windows, ventilation systems, and odor sources. If a facility has already provided the locations of specific odor‐emitting activities and emissions in its business license application floor plan, it may instead reference the facility’s business file number(s) and the relevant sections within such application where the floor plan is located.

b. Specific odor‐emitting activity(ies). ‐ This section should describe the odor‐emitting activities or processes that take place at the facility, the sources of those odors, and the locations from which they are emitted.

c. Phases (timing, length, etc.) of odor‐emitting activities. ‐ This section should describe the phases of odor‐emitting activities that take place at the facility, with what frequency they take place, and how long they last.

4. Odor Mitigation Practices (all based on industry‐specific best control technologies and best management practices).

a. Administrative controls.

i. Procedural activities. – This section should describe activities such as building management responsibilities (e.g., isolating odor‐emitting activities from other areas of the buildings through closing doors and windows).

ii. Staff training procedures. – This section should describe the organizational responsibility(ies) and the role/title(s) of the staff members who will be trained about odor control; the specific administrative and engineering activities that the training will encompass; and the frequency, duration, and format of the training (e.g., a 60 minute in‐person training of staff, including the importance of closing doors and windows and ensuring exhaust and filtration systems are running as required).

iii. Recordkeeping systems and forms. – This section should include a description of the records that will be maintained (e.g., records of purchases of replacement carbon, performed maintenance tracking, documentation and notification of malfunctions, scheduled and performed training sessions, and monitoring of administrative and engineering controls.

b. Engineering controls. – This section should include evidence of the best control technology for the type of facility.

i. System design. – The system design should describe the odor control technologies that are installed and operational at the facility and to which odor‐emitting activities, sources, and locations are applied.

ii. Operational processes. – This section should describe the activities being undertaken to ensure the odor mitigation system remains functional, the frequency with which such activities are performed, and the role/title(s) of the personnel responsible for such activities.

iii. Maintenance Plan. – The maintenance plan should include a description of the maintenance activities that are performed, the frequency with which such activities are performed, and the role/title(s) of the personnel responsible for maintenance activities. The activities should serve to maintain the odor mitigation systems and optimize performance.

iv. If the facility reasonably believes that engineering controls are not necessary to effectively mitigate odors for all odor sources, the facility shall submit the basis for such belief.

c. Timeline for implementation of odor mitigation practices.

d. Complaint tracking system. – This section may include, but is not limited to, the mechanism for, and the responsible staff involved in, receiving odor‐related complaints, how and by whom such complaints will be addressed, and how the odor complaint and response will be recorded.


Item: Resolution Approving a Voluntary Collection Agreement for Timnath Lodging Tax (the “Resolution”).

Ordinance

Resolution √ Discussion

For Information


EXECUTIVE SUMMARY: The Town imposes a 3% tax on the price paid for the lodging (the “Lodging Tax”). There are several residences within the Town that offer lodging through the Airbnb, Inc. platform. Under Colorado law, the owner of the lodging property is technically responsible for collecting lodging taxes, as opposed to Airbnb. However, Airbnb acknowledges that it is in a better position than the property owners it does business with to efficiently collect and remit lodging taxes to municipalities. Accordingly, Airbnb is willing to enter into the Voluntary Collection Agreement to facilitate the reporting, collection, and remittance of the Lodging Tax from residences within the Town. STAFF RECOMMENDATION: Staff recommends approval of this Resolution. KEY POINTS/SUPPORTING INFORMATION: Airbnb would agree to act as a tax collector for the Town to collect and remit Lodging Tax from residences using the Airbnb, Inc. platform within the Town. After the Agreement is in place, property owners, also known as hosts, are not required collect or remit the Lodging Tax to the Town.

ADVANTAGES: This Agreement will allow Airbnb to collect and remit Lodging Taxes to the Town.

DISADVANTAGES: None.

FINANCIAL IMPACT: All Lodging Taxes collected and remitted by Airbnb, Inc. will have a positive financial impact on the Town.

RECOMMENDED MOTION: I move approval of Resolution No. 26, Series 2018, A Resolution Approving A Voluntary Collection Agreement for Timnath Lodging Tax

ATTACHMENTS: 1. Resolution 2. Voluntary Collection Agreement for Timnath Lodging Tax

TOWN OF TIMNATH, COLORADO RESOLUTION NO. 26, SERIES 2018

A RESOLUTION APPROVING A VOLUNTARY COLLECTION AGREEMENT

FOR TIMNATH LODGING TAX

WHEREAS, the Town Council of the Town of Timnath (the “Town”) pursuant to C.R.S. § 31-15-103, has the power to pass resolutions; and WHEREAS, attached hereto as Exhibit A is a Voluntary Collection Agreement for Timnath Lodging Tax (the “Agreement”); and WHEREAS, the Town Council is familiar with the Agreement and finds it to be in the best interest of the Town, its residents, and the general public. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF TIMNATH, COLORADO AS FOLLOW: Section 1. Approval The Agreement is hereby approved in substantially the form as attached hereto as Exhibit A, with such modifications and additions as the Town Manager, in consultation with Legal Counsel, determines to be necessary and appropriate to protect the interests of the Town or effectuate the purposes set forth herein and not otherwise inconsistent with this Resolution. INTRODUCED, MOVED, AND ADOPTED BY THE TOWN COUNCIL OF THE TOWN OF TIMNATH, ON MARCH 27, 2018. TOWN OF TIMNATH, COLORADO Jill Grossman-Belisle, Mayor ATTEST: Milissa Peters, CMC Town Clerk

EXHIBIT A

Agreement

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VOLUNTARY COLLECTION AGREEMENT FOR

TOWN OF TIMNATH LODGING TAX

THIS VOLUNTARY COLLECTION AGREEMENT (the “Agreement”) is dated

_________________, 2018 and is between AIRBNB, INC., a Delaware corporation (“Airbnb”)

and the Finance Department of the TOWN OF TIMNATH, COLORADO, a home rule

municipal corporation (the “Taxing Jurisdiction”). Each party may be referred to individually

as a “Party” and collectively as the “Parties.”

RECITALS:

WHEREAS, Airbnb represents that it provides an Internet-based platform (the

“Platform”) through which third parties offering accommodations (“Hosts”) and third parties

booking such accommodations (“Guests”) may communicate, negotiate and consummate a

direct booking transaction for accommodations to which Airbnb is not a party (“Booking

Transaction”);

WHEREAS, the Taxing Jurisdiction and Airbnb enter into this Agreement voluntarily in

order to facilitate the reporting, collection and remittance of applicable transient occupancy taxes

including lodging tax (“Tax”) imposed under applicable Town of Timnath law (the applicable

“Code”), on behalf of Hosts for Booking Transactions completed by Hosts and Guests on the

Platform for accommodations located in the Town of Timnath (the “Taxable Booking

Transactions”);

NOW THEREFORE, IN CONSIDERATION OF THE MUTUAL COVENANTS, PROMISES AND AGREEMENTS CONTAINED HEREIN, THE PARTIES AGREE AS FOLLOWS:

(A) Solely pursuant to the terms and conditions of this Agreement, including only for

periods in which this Agreement is effective (defined below), and solely for Taxable Booking

Transactions completed on the Platform, Airbnb agrees contractually to assume the duties of a

collector of Tax as described in the Code solely for the collection and remittance of Tax

(hereinafter referred to as a “Collector”). The assumption of such duties shall not trigger any

other registration requirements to which Airbnb is not otherwise subject.

(B) Starting on ______________ (the “Effective Date”), Airbnb agrees to commence

collecting and remitting Tax on behalf of Hosts, pursuant to the terms of this Agreement, at the

applicable rate, on Taxable Booking Transactions. Except as set forth in Paragraph (L) below,

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Airbnb shall not assume any obligation or liability to collect Tax for any period or for any

transaction prior to the Effective Date or termination of this Agreement.

REMITTANCE OF TAX

(C) Airbnb agrees reasonably to report aggregate information on the tax return form

prescribed by the Taxing Jurisdiction, including an aggregate of gross receipts, exemptions and

adjustments, and taxable receipts of all Tax that is subject to the provisions of this Agreement.

Airbnb shall remit all Tax collected from Guests in accordance with this Agreement and

Airbnb’s Terms of Service (www.airbnb.com) (the “TOS”) in the time and manner described in

the Code or as otherwise agreed to in writing.

AIRBNB LIABILITY

(D) Pursuant to the terms of this Agreement, Airbnb agrees contractually to assume

liability for any failure to report, collect and/or remit the correct amount of Tax, including, but

not limited to, penalties and interest, lawfully and properly imposed in compliance with the

Code. Nothing contained herein nor any action taken pursuant to this Agreement shall impair,

restrict or prevent Airbnb from asserting that any Tax and/or penalties, interest, fines or other

amounts assessed against it were not due, are the subject of a claim for refund under applicable

law or otherwise bar it from enforcing any rights accorded by law.

(E) During any period for which Airbnb is not in breach of its obligations under this

Agreement, the Taxing Jurisdiction agrees to audit Airbnb on the basis of Tax returns and

supporting documentation, and agrees not to directly or indirectly audit any individual Guest or

Host relating to Taxable Booking Transactions unless and until an audit of Airbnb by the Taxing

Jurisdiction has been exhausted with the matter unresolved. The Taxing Jurisdiction reserves the

right to audit any individual Airbnb Host for activity that has been brought to the attention of the

Taxing Jurisdiction in the form of a complaint or other means independent of this Agreement or

independent of data or information provided pursuant to this Agreement.

(F) The Taxing Jurisdiction agrees to audit Airbnb on an anonymized transaction basis

for Taxable Booking Transactions. Except as otherwise agreed herein, Airbnb shall not be

required to produce any personally identifiable information relating to any Host or Guest or

relating to any Booking Transaction without binding legal process served only after completion

of an audit by the Taxing Jurisdiction of Airbnb with respect to such users. The Taxing

Jurisdiction agrees that for Tax purposes, it will limit its audit of Airbnb to no more than a

http://www.airbnb.com)/

v.2.2017

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consecutive twelve (12) month tax period within any consecutive thirty-six (36) month period.

The Parties agree that any audit findings of the Taxing Jurisdiction in the selected twelve (12)

month period may be projected against the remainder of any periods open under the applicable

statute of limitations, unless Airbnb elects, at its sole discretion, to undergo further audit of such

open periods by the Taxing Jurisdiction.

(G) Airbnb, Inc. agrees to register as a Collector for the sole purpose of reporting,

collection and remittance of Tax under this Agreement and will be the registered Collector on

behalf of any affiliate or subsidiary collecting Tax.

GUEST AND HOST LIABILITY

(H) During any period in which this Agreement is effective relating to Taxable Booking

Transactions, provided Airbnb is in compliance with its obligations herein, Hosts shall be

relieved of any obligation to collect and remit Tax on Taxable Booking Transactions, and shall

be permitted but not required to register individually with the Taxing Jurisdiction to collect,

remit and/or report Tax. Nothing in this Agreement shall relieve Guests or Hosts from any

responsibilities with respect to Tax for transactions completed other than on the Platform, or

restrict the Taxing Jurisdiction from investigating or enforcing any provision of applicable law

against such users for such transactions.

WAIVER OF LOOK-BACK

(I) The Jurisdiction expressly releases, acquits, waives and forever discharges Airbnb, its

current or past affiliated parent or subsidiary companies, directors, shareholders investors,

employees and other agents, and/or Hosts or Guests from any and all actions, causes of action,

indebtedness, suits, damages or claims arising out of or relating to payment of and/or collection

of Tax or other tax indebtedness, including but not limited to penalties, fines, interest or other

payments relating to Tax on any Taxable Booking Transactions prior to the Effective Date.

Nothing contained in this Paragraph of this Agreement will constitute a release or waiver of any

claim, cause of action or indebtedness that the Jurisdiction may have or claim to have against any

Host or Guest unrelated to Taxable Booking Transactions under this Agreement.

NOTIFICATION TO GUESTS AND HOSTS

(J) Airbnb agrees, for the purposes of facilitating this Agreement, and as required by its

TOS, that it will notify (i) Hosts that Tax will be collected and remitted to the Taxing

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Jurisdiction as of the Effective Date pursuant to the terms of this Agreement; and (ii) Guests and

Hosts of the amount of Tax collected and remitted on each Taxable Booking Transaction.

LIMITATION OF APPLICATION

(K) This Agreement is solely for the purpose of facilitating the administration and

collection of the Tax with respect to Taxable Booking Transactions and, except with respect to

the rights and liabilities set forth herein, the execution of or actions taken under this Agreement

shall not be considered an admission of law or fact or constitute evidence thereof under the Code

or any other provisions of the laws of the United States of America, of any State or subdivision

or municipality thereof. Neither Party waives, and expressly preserves, any and all arguments,

contentions, claims, causes of action, defenses or assertions relating to the validity or

interpretation or applicability of the Code, regulations or application of law.

DURATION/TERMINATION

(L) This Agreement may be terminated by Airbnb or the Taxing Jurisdiction for

convenience on 30 day written notification to the other Party. Such termination will be effective

on the first day of the calendar month following the 30 day written notification to the other Party.

Any termination under this Paragraph shall not affect the duty of Airbnb to remit to the Taxing

Jurisdiction any Tax collected from Guests up through and including the effective date of

termination of this Agreement, even if not remitted by Airbnb to the Taxing Jurisdiction as of the

date of termination.

MISCELLANEOUS

(M) CHOICE OF LAW. This Agreement, its construction and any and all disputes

arising out of or relating to it, shall be interpreted in accordance with the substantive laws of the

State of Colorado without regard to its conflict of law principles.

(N) MODIFICATION. No modification, amendment, or waiver of any provision of this

Agreement shall be effective unless in writing and signed by both Parties.

(O) MERGER AND INTEGRATION. This Agreement contains the entire agreement of

the Parties with respect to the subject matter of this Agreement, and supersedes all prior

negotiations, agreements and understandings with respect thereto.

(P) COUNTERPARTS. This Agreement may be executed in any number of

counterparts, each of which shall be deemed an original, and all of which, when taken together,

shall constitute one and the same instrument. The Agreement shall become effective when a

v.2.2017

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counterpart has been signed by each Party and delivered to the other Party, in its original form or

by electronic mail, facsimile or other electronic means. The Parties hereby consent to the use of

electronic signatures in connection with the execution of this Agreement, and further agree that

electronic signatures to this Agreement shall be legally binding with the same force and effect as

manually executed signatures.

(Q) RELATIONSHIP OF THE PARTIES. The Parties are entering into an arm’s-length

transaction and do not have any relationship, employment or otherwise. This Agreement does

not create nor is it intended to create a partnership, franchise, joint venture, agency, or

employment relationship between the Parties. There are no third-party beneficiaries to this

Agreement.

(R) WAIVER AND CUMULATIVE REMEDIES. No failure or delay by either Party in

exercising any right under this Agreement shall constitute a waiver of that right or any other

right. Other than as expressly stated herein, the remedies provided herein are in addition to, and

not exclusive of, any other remedies of a Party at law or in equity.

(S) FORCE MAJEURE. Neither Party shall be liable for any failure or delay in

performance under this Agreement for causes beyond that Party’s reasonable control and

occurring without that Party’s fault or negligence, including, but not limited to, acts of God, acts

of government, flood, fire, civil unrest, acts of terror, strikes or other labor problems (other than

those involving Airbnb employees), computer attacks or malicious acts, such as attacks on or

through the Internet, any Internet service provider, telecommunications or hosting facility. Dates

by which performance obligations are scheduled to be met will be extended for a period of time

equal to the time lost due to any delay so caused.

(T) ASSIGNMENT. Neither Party may assign any of its rights or obligations hereunder,

whether by operation of law or otherwise, without the prior written consent of the other Party

(which consent shall not be unreasonably withheld). Notwithstanding the foregoing, Airbnb may

assign this Agreement in its entirety without consent of the other Party in connection with a

merger, acquisition, corporate reorganization, or sale of all or substantially all of its assets.

(U) MISCELLANEOUS. If any provision of this Agreement is held by a court of

competent jurisdiction to be contrary to law, the provision shall be modified by the court and

interpreted so as best to accomplish the objectives of the original provision to the fullest extent

permitted by law, and the remaining provisions of this Agreement shall remain in effect.

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NOTICES

(V) All notices under this Agreement shall be in writing and shall be deemed to have

been given upon: (i) personal delivery; (ii) the third business day after first class mailing postage

prepaid; or (iii) the second business day after sending by overnight mail or by facsimile with

telephonic confirmation of receipt. Notices shall be addressed to the attention of the following

persons, provided each Party may modify the authorized recipients by providing written notice to

the other Party:

To Airbnb: Airbnb, Inc. Attn: General Counsel 888 Brannan Street, 4th Fl. SF, CA 94103 [email protected]

Airbnb, Inc. Attn: Global Head of Tax 888 Brannan Street, 4th Fl. SF, CA 94103 [email protected]

To the Taxing Jurisdiction: Town of Timnath Attn: Finance Department 4800 Goodman Street Timnath, CO 80547

Fax: (970) 224-3217

IN WITNESS WHEREOF, Airbnb and the Taxing Jurisdiction have executed this Agreement effective on the date set forth in the introductory clause. AIRBNB, INC., a Delaware corporation By: _______________________________________ Signature of Authorized Representative Mike Liberatore, Acting Global Tax Director _______________________________________ TOWN OF TIMNATH, COLORADO

By: _______________________________________ Signature _______________________________________ Name and Title

mailto:[email protected]

mailto:[email protected]

TOWN COUNCIL COMMUNICATION Meeting Date: March 27th, 2018

Item: Resolution No. 27, Series 2018, A Resolution Approving the Farming Lease for 6644 Highway 14

Ordinance

Resolution√

Discussion

For Information

Presented by: Brian Williamson Town Planner

EXECUTIVE SUMMARY: Agreement between the Town and Bob Becker to farm the property at 6644 Highway 14. This property was formerly known as the South K&M Farm. Leasing this property for Farming will benefit the Town in many ways:

o The Town will not have to maintain the property. o The farm will stay in agricultural production. o Until the Town has the desire to modify the use of the property it will be maintained at

no cost to the Town. If the property were not to be farmed, the Town would need to begin the dry land conversion

process for the property. Town staff is researching the process for this conversion, but the Town is not prepared to begin that conversion at this time.

The lease rate is $80 per farmable acre, and the lease price does not include water. The Lessee will be responsible for leasing the water to farm the property.

STAFF RECOMMENDATION: Staff recommends that Council approve the lease per the resolution. KEY POINTS/SUPPORTING INFORMATION: See Executive summary.

ADVANTAGES: Executing the lease will lessen the maintenance burden on the Town.

DISADVANTAGES: None

FINANCIAL IMPACT: There is a small financial gain from this lease, but the offset of the capital investment in the dryland

conversion is the real savings.

RECOMMENDED MOTION: I move to approve Resolution No. 27, Series 2018, A Resolution Approving the Farming Lease for

6644 Highway 14.

ATTACHMENTS: 1. Resolution 2. Lease


A RESOLUTION APPROVING FARMING LEASE WITH BOB BECKER FOR THE

PROPERTY AT 6644 HIGHWAY 14

WHEREAS, the Town Council of the Town of Timnath (“Town”) pursuant to C.R.S. § 31-15-103, has the power to pass resolutions; and WHEREAS, attached hereto as Exhibit A is the lease agreement for the property at 6644 Highway 14 for the value of $80 per farmable acre; and WHEREAS, the Town Council desires to have the property leased for farming, and the Lessee will provide care for the property with no cost to the Town except as listed in the agreement ; and WHEREAS, the Town Council is familiar with the Lease and finds it to be in the best interest of the Town, its residents, and the general public. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF TIMNATH, COLORADO AS FOLLOW: Section 1. Approval The Lease is hereby approved in substantially the form as attached hereto, subject to technical or otherwise non-substantive modifications, as deemed necessary by the Town Manager in consultation with the Town Planner, Engineer, Legal Counsel, and other applicable staff or consultants. INTRODUCED, MOVED, AND ADOPTED BY THE TOWN COUNCIL OF THE TOWN OF TIMNATH, ON MARCH 27TH, 2018. TOWN OF TIMNATH, COLORADO Jill Grossman-Belisle, Mayor ATTEST: Milissa Peters, CMC Town Clerk

EXHIBIT A

AGREEMENT

Farm Lease (version: 10-5-15) Page 1

FARM LEASE Farm # 6644 Hwy 14

THIS LEASE (Lease) entered into between the Town of Timnath, a municipal corporation of the State of Colorado, (Timnath) and Robert Becker (Tenant) shall become effective as of the date executed by the Town of Timnath below. Whereas, the Town of Timnath is the owner of certain real property located in Weld County, Colorado, which is not presently required for any public use or purpose; and Whereas, the Town of Timnath desires to lease said real property to Tenant. NOW THEREFORE, in consideration of the terms, covenants, and conditions contained herein, Timnath and Tenant agree as follows:

SECTION 1 FUNDAMENTAL LEASE PROVISIONS

1. Parties:

Landlord Town of Timnath 4800 Goodman Timnath Colorado, 80547

Tenant ___Bob Becker ________________ _____________________________ _____________________________ _____________________________ 2. Tenant Contact Information: Work Phone Number: ______________________ Home Phone Number: ______________________ Cell Phone Number: __970-581-0235 ________ Email address: [email protected]__

Emergency Contact: ______________________ __________________ Name Phone Number 3. Leased Premises: Timnath hereby agrees to lease to Tenant and Tenant hereby agrees to lease from

Timnath the Leased Premises as described below or as additionally described in Exhibit A, which is attached hereto and incorporated herein by this reference:

Acreage upon the Leased Premises shall be:

___________ acres tillable, irrigated ____93_____ acres tillable, dry ___________ acres irrigated pasture ___________ acres dry pasture


___________ revegetation acres ___________ acres other (yards, etc.)

Improvements included with the Leased Premises: _________________________________________________________ _________________________________________________________ _________________________________________________________

Improvements specifically excluded from Leased Premises: _________________________________________________________ _________________________________________________________ _________________________________________________________

4. Term: The Term of this Lease shall be for a period commencing on the 28th day of March, 2018,

and terminating on the 31st day of December, 2018. This lease will automatically renew unless terminated as set forth in this agreement by either party 30 days prior to the renewal date of January 1, 2019, or January 1, 2020.

Renewal: yes no 5. Rent: Total Annual Rent for the Leased Premises over the Term of the Lease, payable as specified

in Section 2 of this Lease, shall be $80.00 per acre, per year or any portion of a one year growing season for the land.

6. Additional Provisions:

1)Water is not included with this lease, it will be the Lessee’s responsibility to secure adequate water

to farm the property.

2) The Adjacent pasture land to the east of the farm acreage is not included in this lease.

In the case of a conflict between these Additional Provisions and the Terms and Conditions in Section 2 of this Lease, these Additional Provisions shall prevail.


SECTION 2 TERMS AND CONDITIONS

1. Leased Premises. Timnath hereby agrees to lease to Tenant and Tenant hereby agrees to lease

from Timnath the Leased Premises for farming operations as described in Section 1 of this Lease. Said Leased Premises are herein referred to as the “Leased Premises”.

2. Term. The Term of this Lease shall be as described in Section 1 of this Lease. 3. Total Annual Rent. The Total Annual Rent for the Leased Premises shall be for an amount as

specified in Section 1 of this Lease. The Total Annual Rent is due no later than the date of execution of this Lease by Timnath,

whichever is later. Payments to Timnath from Tenant must be in the form of a check, money order or cashier’s check. Timnath will not accept cash. In lieu of full payment for the Total Annual Rent hereunder, the Tenant may pay no less than forty percent (40%) of the Total Annual Rent on the date of execution of this Lease, and shall pay the remaining sixty percent (60%) of the Total Annual Rent in full no later than December 1, but only if the Tenant provides Timnath a letter of credit, on or before the date of execution of this Lease, acceptable to Timnath, securing the full amount of the unpaid remaining sixty percent (60%), or Tenant agrees to pay Timnath interest on the unpaid remaining sixty percent (60%) at the rate of one percent (1%) per month (full or partial) compounded monthly. If Tenant fails to exercise the option to pay the partial Total Annual Rent as set forth in this paragraph by the date of execution of this Lease, Tenant’s option to tender partial Total Annual Rent is terminated and the Total Annual Rent is immediately due and payable.

4. Taxes. Timnath shall pay all legally imposed property taxes (if any) upon the Leased Premises.

Tenant shall be responsible for payment of all taxes upon Tenant’s personal property. 5. Expenses. Except as otherwise specifically provided herein, Tenant shall be responsible for all

expenses associated with the Tenant’s farming operation including, but not limited to, labor, seed, fertilizer, utility charges, pumping charges, power, herbicides, pesticides, harvesting fees and water charges.

6. Tenant Obligations. Tenant, in consideration of the leasing of the Leased Premises and at his or

her own expense, covenants and agrees as follows:

a. To pay the Total Annual Rent when due.

b. Not to plow out or destroy any established grasslands or pastures without obtaining prior written approval from Timnath.

c. To prepare seed bed, cultivate and to generally conduct farming operations upon the

Leased Premises in a good and farmer-like manner.

d. By December 1 of each year, submit to Timnath records of restricted-use pesticides, herbicides and fertilizers applied during the current year.

e. Not to assign, sublease, transfer or encumber the Leased Premises, improvements

thereon or any part thereof.

f. To allow Timnath and its officers, agents, representatives, contractors and employees the right to enter the Leased Premises at any time for any purpose.

g. To fully cooperate, and maintain a businesslike relationship, with Timnath, its officers,

agents, representatives, contractors and employees; including remaining in good standing


with any and all contracts or obligations between Timnath and Tenant. This includes fulfilling all the obligations of any other Farm or Residence Lease Tenant has with Timnath.

h. To make no improvements, alterations or additions on or to the Leased Premises, structural

or otherwise, without prior written approval from Timnath.

i. To keep in good working condition all fencing, buildings, corrals, pumps, wells, well fixtures and any other related irrigation equipment, lawns, trees, shrubbery, hay and hay yards, laterals and ditches, as well as all improvements. Tenant also agrees to keep in good working condition all appliances, electrical and mechanical, owned by Timnath and located on the Leased Premises.

j. To clean out and maintain all lateral ditches leading from the main canal to and upon the

Leased Premises, as well as all sub-laterals thereon; including the payment of assessments and other fees. To contribute necessary resources to the full extent of Tenant’s proportionate share; to clean and maintain all such laterals and sub-laterals which are jointly used with others; to construct all distributing ditches; to hold Timnath harmless for any shortage or excess of water for any purposes; to cultivate all land leased; and, in preparation of the ground for crops, to plow and level down all distributing ditches and make new ones in lieu thereof, provided that the laterals used by others and reserved for their use shall not be interfered with.

k. To remove at least once per year or at such longer intervals as Timnath may approve in

writing, all sediment piles accumulated from prior cleaning of tail ponds on the Leased Premises and Tenant shall be responsible for cleaning each such tail water pond at least one time per year for the Term hereof.

l. To maintain all buildings and improvements in as good a condition as they existed at the

time of execution of this Lease.

m. To preserve and maintain in good working condition all sprinklers, flumes, siphons, checks, dividing boxes and underground tile or drainage system, if any, on the Leased Premises, and, from time to time, and so often as conditions may require, to clean out same in order that water may flow uninterruptedly.

n. To use, store, dispose and remove from the Leased Premises all pesticides, chemicals,

and petroleum products and containers in accordance with applicable laws.

o. Not to place or permit to be placed any sign, decal, poster, advertisement, card or other commemorative or communicative illustration on the Leased Premises for any purpose, without prior written approval from Timnath. To permit Timnath to place a "For Rent" sign upon the Leased Premises at any time after 30 days before the end of the Lease.

7. Weed Control. The Tenant shall be responsible for removal of all weeds on the Leased Premises.

Tenant shall destroy all weeds along lateral ditches, fences and fields before the same shall form seed. Tenant shall exercise such methods and practices as may be reasonably necessary to control the growth of weeds on the Leased Premises, and to exercise such practices as are required, consistent with good farming methods, in order to keep all crops free and clear of weeds. If the Tenant fails to perform Tenant’s obligations under this paragraph, Timnath may take such action as it deems appropriate to bring the Leased Premises into compliance, and the cost thereof shall be paid by Tenant promptly upon completion. Failure to pay such cost shall constitute a default under this Lease.

8. Reservation of Mineral Rights. Timnath hereby reserves all coal, oil, gas, mineral and mineral

rights in, on or underneath the surface of the Leased Premises, or any part thereof in and to itself and to any of its lessees, except Tenant, their heirs, successors, or assigns, and reserves to itself


and such lessees, except Tenant, the right to enter in and upon the surface of the Leased Premises and to have and use and enjoy so much of the Leased Premises as shall be required to prospect for, develop and produce such mineral rights from the Leased Premises or any part thereof, as well as to have so much of the Leased Premises as shall be required for buildings, tanks, pipes, lines, fixtures and equipment in connection therewith. All of the foregoing shall be done as a reserved right and without opposition or hindrance from said Tenant as fully and completely as if this Lease had not been made.

a. At the time of such possession, if the land has been prepared for crops, or if a growing crop

be thereon, then the Tenant shall be paid for his work in preparation and also for any growing crop thereon to the extent of his share and interest in the same, including a reasonable profit, which payment shall be upon a basis consistent with the conditions, including market conditions, at the time such possession is acquired. No such payment shall be made in any subsequent Lease year.

b. If the land has not been so prepared for crop, that portion of the Tenant’s Total Annual

Rent, representing total acreage Rent will be adjusted by the acreage reduced as a direct result of any mineral rights development.

9. Eminent Domain. In the event the Leased Premises or any part thereof or any estate therein,

materially affecting Tenant’s use of the Leased Premises, shall be taken by any entity other than the Town of Timnath by virtue of eminent domain, this Lease shall terminate on the date upon which title vests pursuant to such taking and prepaid Rent or additional Rents shall be apportioned as of said date. Tenant shall not be entitled to any part of any eminent domain award or any payment in lieu thereof, as against Timnath, provided however that Tenant may file a claim as against such third party entity for land prepared or planted in crop, taken as a result of any such action in eminent domain, and for relocation or moving expenses.

10. Additional Reserved Rights. In addition to any other rights reserved in Timnath under this Lease,

if at any time during the Term hereof, in the sole determination of Timnath, all or any portion of the Leased Premises shall be required for use by Timnath for any purpose, Timnath may, upon giving thirty (30) days written notice of such determination to Tenant, terminate this Lease with respect to such portion of the Leased Premises as may be required by Timnath. Tenant shall be compensated for the value of crops as detailed below. Tenant shall have no further claim against Timnath in such event, except as herein specifically provided.

a. At the time of such termination, if the land has been prepared for crops, or if a growing crop

be thereon, then the Tenant shall be paid for his work in preparation and also for any growing crop thereon to the extent of his share and interest in the same, including a reasonable profit, which payment shall be upon a basis consistent with the conditions, including market conditions, at the time such possession is acquired. No such payment shall be made in any subsequent Lease year.

b. If the land has not been so prepared for crop, that portion of the Tenant’s Total Annual

Rent, representing total acreage Rent will be adjusted by the acreage reduced as a direct result of any termination.

11. Claims. Timnath shall be entitled to and shall have a valid claim against Tenant as additional Rent

to recover for all money advanced from employment of labor or otherwise advanced to protect itself against any loss occasioned by reason of any failure by Tenant to fulfill and perform any or all of the conditions and agreements of this Lease. This includes claims for damages against Tenant for loss occasioned by neglect and or failure to perform all things herein agreed to including, but not limited to, the right of Timnath to cut weeds and otherwise perform Tenant’s obligations under Paragraphs 6 and 8 above or take any remedial actions necessary to address violations by tenant to the provisions of Paragraph 15 below. Timnath shall have a lien on the share of crops of Tenant and other property of Tenant for the Rent, additional Rent and/or damages due Timnath under this


Lease. Timnath shall subordinate any lien pursuant to this paragraph as reasonably necessary to allow Tenant to secure bank financing necessary to conduct farming operations hereunder.

12. Disclaimer of Warranties. Timnath makes no warranties of any kind as to the condition or fitness of

the Leased Premises. Tenant affirms that he has inspected the Leased Premises and takes possession as is.

13. Non-Waiver. No waiver of any term, provision or condition of this Lease, in any one or more instances,

shall be deemed to be or shall be construed as a further or continuing waiver of any such term, provision or condition or as a waiver of any other term, provision, condition or right under this Lease. Timnath's acceptance of any sums of money from Tenant following an event of default shall be taken to be a payment on account by Tenant and shall not constitute a waiver by Timnath of any rights, nor shall any such payment cure Tenant's default if such payment is less than the full amount due and outstanding, nor shall any such payment from Tenant reinstate this Lease if previously terminated by Timnath.

14. Use of Leased Premises. The Leased Premises shall be used solely for the purposes of

conducting farming operations and any other permitted use specified herein. Commercial hunting or fishing and subleasing the Leased Premises for any recreational purpose are prohibited. Tenant agrees not to use or permit the use of the Leased Premises for any purpose that constitutes a violation of any state law, rule or regulation, any municipal or county ordinance, rule or regulation, or any federal law or regulation. Tenant specifically agrees not to possess or allow anyone to possess any amount of marijuana for medical or recreational use or any usable form of marijuana or marijuana infused products for medical or recreational use or to commit, permit or allow any cultivation, manufacture or sale of any usable form of marijuana on the Leased Premises; not to commit a nuisance on the Leased Premises or permit others to do so; and to do no act whereby any insurance coverage would not be afforded.

15. Indemnification. Tenant agrees:

a. To assume all risk of damage, loss, or destruction to all Tenant property kept at the Leased Premises. Not to hold Timnath liable for any loss or damage to Tenant's property, including but not limited to any loss sustained by Tenant as a result of any third party, fire, water, theft, or the elements, or for loss of any of Tenant's property from any cause from said Leased Premises. That Timnath shall not be liable for any injury, whether to person or property, sustained by Tenant, Tenant's family, guests, invitees, or any person entering on or about the Leased Premises.

b. To indemnify and hold harmless Timnath, its officers, agents, and its employees, from and against all liability, claims, demands, causes of action in law or equity, including expenses, court costs and attorneys' fees, on account of any injury, loss, or damage, to person or property, which arise out of or are in any manner connected with the Leased Premises, real property or structure(s) or any part thereof, which injury, loss, or damage is caused in whole or in part by, or is claimed to be caused in whole or in part by any breach or default in the performance of any obligation on Tenant's part to be performed under the terms of this Lease, or from any negligent or willful act or omission, error, professional error, mistake, accident, or other fault of the Tenant, any Subcontractor of the Tenant, or any officer, employee or agent of the Tenant.

17. Tenant’s Insurance Obligations. The Tenant agrees:

a. To procure and maintain in force during the Term of this Lease, at Tenant’s own cost, the following coverages:

(1) Commercial General or Business Liability Insurance with minimum combined


single limits of FIVE HUNDRED THOUSAND DOLLARS ($500,000) each occurrence and ONE MILLION DOLLARS ($1,000,000) general aggregate.

(2) Automobile Liability Insurance with minimum combined single limits for bodily

injury and property damage of not less than ONE MILLION DOLLARS ($1,000,000) for any one occurrence, with respect to each of the Tenant owned, hired or non-owned vehicles assigned to or used in the operation of the Leased Premises. In the event that the Tenant’s insurance does not cover non-owned automobiles, the requirements of this paragraph shall be met by each employee of the Tenant who utilizes an automobile in the operation of the Leased Premises.

(3) Worker’s Compensation Insurance as required by the Labor Code of the State of

Colorado and Employer’s Liability Insurance.

b. If approved by Timnath, evidence of qualified self-insured status may be substituted for one or more of the foregoing insurance coverages.

c. A Certificate of Insurance shall be completed by the Tenant’s insurance agent(s) as

evidence that policies providing the required coverages, conditions, and minimum limits are in full force and effect, and shall be subject to review and approval by Timnath’s Risk Management Office. The Certificate shall identify this Lease and name the Town of Timnath as an additional insured, and shall provide that the coverage afforded under the policies shall not be canceled, terminated or materially changed until at least 30 days prior written notice has been given to Timnath.

d. Failure on the part of the Tenant to procure or maintain policies providing the required

coverage, conditions and minimum limits shall constitute a default of this Lease.

e. Timnath reserves the right to request and receive a certified copy of any policy and any endorsement thereto. Tenant agrees to execute any and all documents necessary to allow Timnath access to any and all insurance policies and endorsements pertaining to this Lease.

18. No Waiver of Governmental Immunity Act. The parties hereto understand and agree that Timnath,

its officers, agents and employees are relying on, and do not waive or intend to waive by any provision of this Lease, the monetary limitations nor any other rights, immunities, and protections provided by the Colorado Governmental Immunity Act, C.R.S. 24-10-101 et seq., as it may be from time to time amended, or otherwise available to Timnath, its officers, agents or employees.

19. No Extension. This Lease shall not be construed to be extended beyond its date of expiration by

any action undertaken by either of the parties. Any costs or expenses incurred by Tenant in preparing for future planting or any other thing done by Tenant in connection with the conduct of future farming operations upon the Leased Premises by Tenant after expiration of this Lease shall be at Tenant’s own risk and Timnath shall have no liability to Tenant in connection therewith.

20. Expiration of Lease. Upon expiration of this Lease, Tenant agrees to leave the Leased Premises

and improvements in as good order and condition as when Tenant took possession of the same, ordinary wear or uncontrollable loss excepted.

21. Default by Tenant. If Tenant shall be in arrears in the payment of any installment of Total Annual

Rent, or any portion thereof, or in default in any of the covenants or agreements, conditions or undertakings herein contained to be performed by the Tenant, Tenant may be served with a DEMAND FOR PAYMENT OR POSSESSION NOTICE. If the Total Annual Rent has not been received and identified defaults cured, or Tenant has not vacated the Leased Premises on or before the 3rd day after service of the DEMAND FOR PAYMENT OR POSSESSION NOTICE, Timnath may, at its option: declare the Lease terminated; and/or enter upon and repossess said Leased Premises without liability


for trespass and re-rent the same for such rent and upon such conditions as Timnath deems best, making such repairs as may be required, giving credit for the amount of Rent received, if any, less all expenses of such repairs, and said Tenant shall be liable for the balance of the Total Annual Rent due and owing under this Lease until the expiration of the Term of this Lease; and/or pursue an action for forcible entry and detainer, including seeking a judgment against Tenant for possession, rent due and damages incurred, including attorneys fees and costs. If at any time Tenant's Lease Term shall be ended as aforesaid, Tenant agrees to surrender and deliver up said Leased Premises and all keys peaceably to Timnath immediately upon termination of said Lease Term. Timnath may peacefully expel and remove Tenant, those claiming under Tenant, or any person or persons occupying the same and their effects, all without prejudice to any other remedies available to Timnath in equity or at law for arrears of Rent or breach of covenant. The remedies set forth in this paragraph shall be cumulative.

22. Attorney's Fees and Costs. In any action brought in connection with collecting the Total Annual Rent,

amounts, or damages owing by Tenant to Timnath under this Lease, or to enforce any provision of this Lease, Timnath shall also be entitled to recover its reasonable attorney fees and costs incurred from Tenant. Timnath and Tenant agree that any action or proceeding arising out of this Lease shall be heard by a court sitting without a jury and thus hereby waive all rights to a trial by jury.

23. Conveyance of Leased Premises. Timnath may sell, transfer or otherwise convey the Leased

Premises and may assign its rights and obligations under this Lease and, upon such assignment, shall be relieved of all rights and obligations under this Lease which may accrue thereafter. In the event of sale, transfer, or other conveyance of the Leased Premises by Timnath, Timnath shall be entitled to the prorated portion of the Rent attributable to the period of Timnath's ownership.

24. Governing Laws. This Lease shall be governed by the laws of the State of Colorado. Venue for any

dispute arising under the terms of this Lease shall lie in the appropriate Court in and for the County in which the Leased Premises is located, State of Colorado.

25. Notices. For purposes of this Lease all notices and payments, unless otherwise designated in

writing are to be given or made to the addresses as described in Section 1 of this Lease. Notice shall be deemed properly given in accordance with any requirement of this Lease, when deposited in the U.S. Mail, addressed as specified herein.

26. Binding. This Agreement shall be binding upon the heirs, representatives and assigns of the

parties. 27. Oral Modification Prohibited. This Lease may not be changed orally but only by agreement in

writing signed by the Parties. 28. Mechanics Liens. Within ten (10) days after notice from Timnath, Tenant shall discharge any

mechanics lien for materials or labor claimed to have been furnished to the Leased Premises for Tenant's benefit. In the event that Tenant fails to discharge such lien within such ten day period, Timnath may, at its option, declare a default of this Lease and/or discharge such lien and the cost of same shall become additional Rent hereunder.

29. Integrated Agreement. This Lease constitutes the entire agreement of the parties hereto and

supersedes any and all prior agreements between the parties with respect to the Leased Premises. No representations, agreements or warranties, other than those expressly set forth herein, shall be binding upon the parties, unless executed in writing by all parties hereto.

30. Reference to Timnath. Wherever reference in this Lease is made to “Timnath” said reference shall

include the duly appointed or designated officers, employee(s) and agent(s) in and for the Town of Timnath.


Signature Pages to Follow


Farm # ________ EXECUTED on this ____ day of _______________, 2018. TOWN OF TIMNATH: _______________________________________ –April Getchius, Town Manager ATTEST: _________________________________ Milissa Peters, City Clerk


Farm # ________ TENANT BY:________________________________ STATE OF COLORADO ) )ss COUNTY OF _________ ) The above and foregoing signature of Tenant ________________________ was subscribed and acknowledged before me this ______ day of _________________, 2018. WITNESS my hand and official seal. My commission expires on: __________________________ _________________________________ Notary Public


EXHIBIT A

Leased Premises

Exhibit A

(Property Depiction of Farm Area)

TOWN COUNCIL COMMUNICATION Meeting Date: March 27th, 2018

Item: Resolution No. 28, Series 2018, A Resolution Approving the Grazing Lease for 6644 Highway 14

Ordinance

Resolution√

Discussion

For Information

Presented by: Brian Williamson Town Planner

EXECUTIVE SUMMARY:

Agreement between the Town and Sharon Green to graze the property at 6644 Highway 14. This property was formerly known as the South K&M Farm. Leasing this property for Grazing will benefit the Town by not having to maintain the property If the property were not to be grazed, the Town would need to begin the dry land conversion

process for the property. Town staff is researching the process for this conversion, but the Town is not prepared to begin that conversion at this time.

The lease rate is $500 per year, and the lease price does not include water. STAFF RECOMMENDATION: Staff recommends that Council approve the lease per the resolution. KEY POINTS/SUPPORTING INFORMATION: See Executive summary.

ADVANTAGES: Executing the lease will lessen the maintenance burden on the Town.

DISADVANTAGES: None

FINANCIAL IMPACT: There is a small financial gain from this lease, but the offset of the capital investment in the dryland

conversion is the real savings.

RECOMMENDED MOTION: I move to approve Resolution No. 28, Series 2018, A Resolution Approving the Grazing Lease for

6644 Highway 14.

ATTACHMENTS: 1. Resolution 2. Lease


A RESOLUTION APPROVING GRAZING LEASE WITH SHARON GREEN FOR THE

PROPERTY AT 6644 HIGHWAY 14

WHEREAS, the Town Council of the Town of Timnath (“Town”) pursuant to C.R.S. § 31-15-103, has the power to pass resolutions; and WHEREAS, attached hereto as Exhibit A is the lease agreement for the property at 6644 Highway 14 for the value of $500; and WHEREAS, the Town Council desires to have the property leased for grazing, and the Lessee will provide care for the property with no cost to the Town except as listed in the agreement ; and WHEREAS, the Town Council is familiar with the Lease and finds it to be in the best interest of the Town, its residents, and the general public. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF TIMNATH, COLORADO AS FOLLOW: Section 1. Approval The Lease is hereby approved in substantially the form as attached hereto, subject to technical or otherwise non-substantive modifications, as deemed necessary by the Town Manager in consultation with the Town Planner, Engineer, Legal Counsel, and other applicable staff or consultants. INTRODUCED, MOVED, AND ADOPTED BY THE TOWN COUNCIL OF THE TOWN OF TIMNATH, ON MARCH 27TH, 2018. TOWN OF TIMNATH, COLORADO Jill Grossman-Belisle, Mayor ATTEST: Milissa Peters, CMC Town Clerk

EXHIBIT A

AGREEMENT

1229.0600_512514

PASTURE LEASE AGREEMENT

THIS PASTURE LEASE AGREEMENT (the "Agreement") is entered into and effective as of March 27th, 2018 between the Town of Timnath (the "Lessor”), a home rule municipality of the State of Colorado, and Sharon Green ("Lessee"), whose address is 6644 Highway 14, Fort Collins, Colorado 80524.

RECITALS:

WHEREAS, the Lessor possesses that certain real property known as the 6644

Highway 14 Pasture (the "Property"), as more particularly described in Exhibit A, a copy of which is attached hereto and incorporated herein by reference; and

WHEREAS, Lessee desires to lease the Property.

AGREEMENT:

NOW THEREFORE, for and in consideration of rent to be paid from the Lessee

to the Lessor, and the other covenants and agreements herein contained, Lessor and Lessee hereby agree as follows:

1. PROPERTY TO BE LEASED. The Lessor agrees to lease the Property to the

Lessee. The Lessor reserves the right to lease any and all other property owned by Lessor to third parties on such terms and conditions as Lessor, in its sole discretion, may deem appropriate.

2. TERM OF AGREEMENT. The term of this Agreement shall be from April

1st, 2018 to November 30th, 2018, unless terminated as provided below. In the event that neither party provides notice of its intent to terminate this Agreement at least 60 days before the end of the term, then said term shall automatically renew for each succeeding year for an additional one (1) year term commencing on December 1 of the next succeeding year.. Notwithstanding the foregoing, the Agreement shall terminate on November 30, 2021.

3. USE OF PROPERTY BY LESSEE.

a. Lessee shall use the Property in accordance with all applicable federal, state,

and local laws for the purpose of grazing horses and similar livestock.

b. Lessee represents and warrants that it will be responsible for all maintenance associated with the property during the term of the Agreement, including but not limited to fencing repairs, pasture management, and mowing of grass and weeds, as necessary.

4. DISCLAIMER OF WARRANTIES. The Property is leased in an "as is” condition. The Lessor is not aware of any damage to the Property; however, under no circumstances whatsoever shall the Lessor be held liable for the repair or replacement of

Commented [MJM1]: I modified this to make it clear the agreement can renew for up to 3 years and will terminate on November 30, 2021.

any damage discovered by Lessee during its preparation of, or use of, the Property. If Lessee, in any way, damages the Property, Lessee shall be responsible for causing any such damage to be repaired at Lessee's cost and at no cost to Lessor.

5. CONSIDERATION FOR PROPERTY. Lessee shall pay Lessor $500.00 per

year, due and payable within 30 days of the effective date of this agreement. Lessor reserves the right to charge interest at a rate of 8% on all delinquent invoices. A $250 allowance for materials for weed control will be reimbursed to the Lessee, provided that adequate documentation is provided to the Lessor to establish the costs.

6. INDEMNIFICATION. Lessee shall defend, indemnify and save harmless Lessor, and its respective officers, directors, contractors and employees, from and against any suits, claims, losses, damages and/or liabilities, including without limitation any attorney fees and court costs, arising out of Lessee's use of the Property, including, without limitation, actions for damages to real or tangible personal property or for bodily injury or death negligently caused by Lessee.

7. GOVERNMENTAL IMMUNITY. Nothing in this Agreement shall be construed

to waive, limit, or otherwise modify, in whole or in part, any governmental immunity that may be available by law to the Lessor, its respective officials, employees, contractors, or agents, or any other person acting on behalf of the Lessor and, in particular, governmental immunity a f f o r d e d or avai lable to the Lessor pursuant to the Colorado Governmental Immunity Act, Title 24, Article 10, Part 1 of the Colorado Revised Statutes.

8. SEVERABILTY. If any portion of this Agreement is declared by any court of

competent jurisdiction to be void or unenforceable, such decision shall not affect the validity of any remaining portion of this Agreement, which shall remain in full force and effect. In addition, in lieu of such void or unenforceable provision, there shall automatically be added as part of this Agreement a provision similar in terms to such illegal, invalid, or unenforceable provision so that the resulting reformed provision is legal, valid, and enforceable.

9. GOVERNING L A W . This Agreement and all claims or controversies arising out of or relating to this Agreement shall be governed and construed in accordance with the law of the State of Colorado, without regard to conflict of law principles that would result in the application of any law other than the law of the State of Colorado.

10. ENTIRE AGREEMENT. This Agreement constitutes the entire Agreement between the Parties, and sets forth the rights, duties, and obligations of each to the other as of this date. Any p r i o r agreements, promises, negotiations, or representations not expressly set forth in this Agreement are of no force and effect. This Agreement may not be modified except by a writing executed by both Parties.

11. COUNTERPART E X E C U T I O N . This Agreement may be executed in multiple counterparts, each of which may be deemed an original, but both of which together shall constitute one and the same instrument. Executed copies hereof may be

2 1229.0600_Sl2Sl4

31229.0600_512514

delivered by facsimile or email of a PDF document, and, upon receipt, shall be deemed originals and binding upon the Parties.

LESSOR:

TOWN OF TIMNATH

By: April Getchius As: Town Manager

LESSEE:

Sharon Green By: Sharon Green

41229.0600_512514

EXHIBIT A

DESCRIPTION OF PROPERTY

See attached entitled "6644 Highway 14 Property”

Exhibit A

(Property Depiction of Pasture Area)


Item: Resolution Approving a Consolidated Service Plan for Rendezvous Metropolitan District Nos. 1-5 (the “Resolution”).

Ordinance

Resolution √ Discussion

For Information


EXECUTIVE SUMMARY: The Resolution approves the Consolidated Service Plan (the “Service Plan”) for Rendezvous Metropolitan District Nos. 1-5 (the “Districts”). The Districts are located on the south side of Harmony Road, between Signal Tree Way on the west and Great Western Railroad on the east. STAFF RECOMMENDATION: Staff recommends approval of this resolution. KEY POINTS/SUPPORTING INFORMATION:

The Service Plan substantially complies with the Town’s model service plan. The proposed maximum interest rate on any Debt shall not exceed eighteen percent (18%). The proposed maximum underwriting discount of Debt shall not exceed five percent (5%). The Maximum Debt Mill Levy for all districts is 50 mills. The Maximum Debt Mill Levy for property

within any district that is owned by the Town is 15 mills. The Maximum Operations and Maintenance Mill Levy for all districts is 50 mills. The Maximum

Operations and Maintenance Mill Levy for property within any district that is owned by the Town is 3 mills.

The Maximum Aggregate Mill Levy for all districts is 50 mills so long as the total aggregate amount of Debt is more than fifty percent (50%) of the District’s assessed valuation. If the Debt is equal to or less than fifty percent (50%) of the District’s assessed valuation then the Maximum Aggregate Mill Levy is 60 mills.

The Total Debt Issuance Limitation is $49,829,000. The proposed cost of Public Improvements is $39,863,711. The Town has agreed to purchase approximately 15 acres of commercial property (known as the

“Town Commercial Parcel”) within the Districts pursuant a Development and Purchase and Sale Agreement.

ADVANTAGES: The Service Plan allows the Districts to provide for the financing, operation and maintenance of the Public Improvements associated with the development. The Town cannot close on the purchase of the Town Commercial Parcel until, among other things, the Districts are formed by the Petitioner.

DISADVANTAGES: New development associated with the project will required increased municipal services from the Town.

FINANCIAL IMPACT: The financial impact of the project is anticipated to be positive, as the development of the project is anticipated to generate additional property tax base, and the public improvements to be financed by the Developer/Districts are intended to offset the increase in municipal services costs associated with the project.

RECOMMENDED MOTION: I move approval of Resolution No. 29, Series 2018, a Resolution Approving a Consolidated Plan for Rendezvous Metropolitan District Nos. 1-5.

ATTACHMENTS: 1. Resolution, 2. Service Plan

TOWN OF TIMNATH RESOLUTION NO. 29, SERIES 2018

A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TIMNATH APPROVING THE CONSOLIDATED SERVICE PLAN FOR

RENDEZVOUS METROPOLITAN DISTRICT NOS. 1-5

WHEREAS, the provisions of Title 32 of the Colorado Revised Statutes (“C.R.S.”) allow for the formation of various kinds of governmental entities to finance and operate public services and infrastructure; and

WHEREAS, pursuant to the provisions of Article 1 of Title 32 of the Colorado Revised Statutes (“Special District Act”), Rendezvous Development, LLC (the “Petitioners”) submitted a Consolidated Service Plan (the “Service Plan”) for the Rendezvous Metropolitan District Nos. 1-5 (each a “District” and collectively, the “Districts”); and

WHEREAS, the Service Plan outlines the initial terms and conditions under which the Districts will be authorized to exist; and

WHEREAS, the Petitioners published notice of the Public Hearing in the Coloradoan, a newspaper of general circulation within the Districts; and

WHEREAS, the Town Council has reviewed the Service Plan and considered the testimony and evidence presented at a public hearing on March 27, 2018 (the “Public Hearing”); and

WHEREAS, the Special District Act requires that any service plan submitted to the district court for the creation of a metropolitan district must first be approved by resolution of the governing body of the municipality within which the proposed district lies; and

WHEREAS, the Town Council wishes to approve the Service Plan for the Districts. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF FORT COLLINS, COLORADO, as follows: Section 1. That the Town Council hereby makes and adopts the determinations and findings contained in the recitals set forth above. Section 2. That the Town Council hereby determines that the Town’s notification policy has been complied with regarding the Public Hearing on the Service Plan.

Section 3. That the Town Council hereby finds that the Service Plan contains, or sufficiently provides for, the items described in § 32-1-202(2), C.R.S., and that:

a. There is sufficient existing and projected need for organized service in the area to be serviced by the proposed Districts;

b. The existing service in the area to be served by the proposed Districts is inadequate for present and projected needs;

c. The proposed Districts are capable of providing economical and sufficient service to the area within their proposed boundaries; and

d. The area to be included within the proposed Districts has, or will have, the financial ability to discharge the proposed indebtedness on a reasonable basis.

Section 4. That the Town Council’s findings are based solely upon the evidence in the Service Plan as presented at the Public Hearing and the Town has not conducted any independent investigation of the evidence. The Town makes no guarantee as to the financial viability of the Districts or the achievability of the desired results.

Section 5. That the Town Council hereby approves the Consolidated Service Plan for Rendezvous Metropolitan District Nos. 1-5, attached hereto as “Exhibit A” and incorporated herein by this reference.

Section 6. The Town Council hereby approves the form of intergovernmental agreement attached to the Service Plan, and acknowledges that further negotiations will be required between the Town and the proponents of the Districts regarding (1) various contractual provisions related to the governance of any metro district overlaying Town-owned commercial property within the project consistent with that certain Development and Purchase and Sale Agreement (Town Commercial Property) dated January 9, 2018; and (2) the addition of mutually agreed upon project specific provisions to the intergovernmental agreement including but not limited to capital fee, operations fee, and water rights authorizations consistent with the authority previously approved by the Town for similarly situated metropolitan districts within the Town’s boundaries. The Town further acknowledges that the contemplated changes to the intergovernmental agreement described herein shall not constitute a material modification of the Service Plan under Section X of the Service Plan. Section 7. That the Town Council’s approval of the Service Plan is not a waiver or a limitation upon any power that the Town Council is legally permitted to exercise with respect to the property within the Districts. INTRODUCED, MOVED, AND ADOPTED BY THE TOWN COUNCIL OF THE TOWN OF TIMNATH, ON MARCH 27TH, 2018. TOWN OF TIMNATH, COLORADO Jill Grossman-Belisle, Mayor ATTEST: Milissa Peters, CMC Town Clerk

SERVICE PLAN

FOR


TOWN OF TIMNATH, COLORADO

Prepared by:

SPENCER FANE LLP 1700 Lincoln Street, Suite 2000

Denver, CO 80203-4554

Approved March 27, 2018

ii

TABLE OF CONTENTS

I. INTRODUCTION ...............................................................................................................1 A. Purpose and Intent....................................................................................................1 B. Need for the Districts ...............................................................................................1 C. Objective of the Town Regarding the Districts’ Service Plan .................................1

II. DEFINITIONS .....................................................................................................................2

III. BOUNDARIES ....................................................................................................................5

IV. PROPOSED LAND USE/POPULATION PROJECTIONS/ASSESSED VALUATION ..5

V. DESCRIPTION OF PROPOSED POWERS, IMPROVEMENTS AND SERVICES ........5 A. Powers of the Districts and Service Plan Amendment ............................................5

1. Operations and Maintenance Limitation ......................................................5 2. Fire Protection Limitation ............................................................................6 3. Television Relay and Translation Limitation ..............................................6 4. Construction Standards Limitation ..............................................................6 5. Financial Advisor Certification ....................................................................6 6. Inclusion Limitation .....................................................................................7 7. Exclusion Limitation ....................................................................................7 8. Overlap Limitation .......................................................................................7 9. Initial Debt Limitation .................................................................................7 10. Total Debt Issuance Limitation ....................................................................7 11. Fee Limitation ..............................................................................................7 12. Monies from Other Governmental Sources .................................................8 13. Consolidation Limitation .............................................................................8 14. Bankruptcy Limitation .................................................................................8 15. Water Rights/Resources Limitation .............................................................8 16. Extraterritorial Service/Improvements Limitation .......................................9 17. Eminent Domain Limitation ........................................................................9 18. Covenant Enforcement/Design Review .......................................................9 19. Financial Review .........................................................................................9

B. Service Plan Amendment Requirement ...................................................................9 C. Preliminary Engineering Survey ..............................................................................9 D. Multiple District Structure .....................................................................................10

VI. FINANCIAL PLAN...........................................................................................................10 A. General ...................................................................................................................10 B. Maximum Voted Interest Rate and Maximum Underwriting Discount ................11 C. Maximum Mill Levies ...........................................................................................11 D. Maximum Debt Mill Levy Imposition Term .........................................................12 E. Debt Repayment Sources .......................................................................................13 F. Debt Instrument Disclosure Requirement ..............................................................13 G. Security for Debt ....................................................................................................13 H. TABOR Compliance ..............................................................................................13 I. District Operating Costs .........................................................................................14

iii

VII. ANNUAL REPORT ..........................................................................................................14 A. General ...................................................................................................................14 B. Reporting of Significant Events .............................................................................14

VIII. DISSOLUTION .................................................................................................................15

IX. DISCLOSURE TO PURCHASERS ..................................................................................15

X. INTERGOVERNMENTAL AGREEMENTS...................................................................15

XI. CONCLUSION ..................................................................................................................16

iv

LIST OF EXHIBITS

EXHIBIT A Legal Descriptions of Initial District Boundaries

EXHIBIT B Timnath Vicinity Map

EXHIBIT C Initial District Boundaries Map

EXHIBIT D Form of Intergovernmental Agreement between the Districts and Timnath

EXHIBIT E Preliminary Engineering Survey

EXHIBIT F Public Improvements Concept Plan

EXHIBIT G Affidavit Regarding Overlapping Consent

EXHIBIT H Financial Plan

I. INTRODUCTION

A. Purpose and Intent.

(i) Enabling Authority. It is the intention of the Town that this Service Plan grants authority to the Districts to construct some or all of the Public Improvements authorized herein. If the Districts elect not to provide certain of the Public Improvements, which may be provided in accordance with an Approved Development Plan or other agreement with the Town, the Districts shall notify the Town in writing of such election whereupon the Town shall have forty-five (45) days to provide a letter to the Districts advising the Districts of the obligation to seek a formal amendment to this Service Plan, or, in the alternative, advising that such election does not constitute a material modification hereof. If the Town determines that such election does not constitute a material modification hereof, the Districts shall submit a written modification of this Service Plan to the Town for administrative approval as a non-material modification whereupon the authority of the Districts to provide such Public Improvements shall be deemed stricken from this Service Plan. In all events, the Town and the Districts acknowledge that the Districts are independent units of local government, separate and distinct from the Town, and, except as may otherwise be provided for by State or local law, or this Service Plan, their activities are subject to review by the Town only insofar as they may deviate in a material manner from the requirements of the Service Plan.

(ii) General Purpose. It is intended that the Districts will provide a part or all of the Public Improvements for the use and benefit of all anticipated inhabitants and taxpayers of the Districts. The primary purpose of the Districts will be to finance the construction of these Public Improvements and not to provide long term operations and maintenance of Public Improvements except as specifically authorized herein or in an intergovernmental agreement with the Town.

B. Need for the Districts.

There are currently no other governmental entities, including the Town, located in the immediate vicinity of the Districts that consider it desirable, feasible or practical to undertake the planning, design, acquisition, construction installation, relocation, redevelopment, and financing of the Public Improvements needed for the Project. Formation of the Districts is therefore necessary in order for the Public Improvements required for the Project to be provided in the most economic manner possible.

C. Objective of the Town Regarding the Districts’ Service Plan.

The Town’s objective in approving the Service Plan for the Districts is to authorize the Districts to provide for the planning, design, acquisition, construction, installation, relocation and redevelopment of the Public Improvements from the proceeds of Debt to be issued by the Districts. All Debt is expected to be repaid by taxes imposed and collected for no longer than the Maximum Debt Mill Levy Imposition Term for residential properties, and at a maximum mill levy no higher than the Maximum Aggregate Mill Levy for commercial and residential properties, and/or repaid by Fees, as long as such Fees are not imposed upon or collected from Taxable Property owned or occupied by an End User for the purpose of creating a capital cost payment

obligation as further described in Section V.A.11. Debt which is issued within these parameters and as further described in the Financial Plan will insulate property owners from excessive tax and Fee burdens to support the servicing of the Debt and will result in a timely and reasonable discharge of said Debt.

This Service Plan is intended to establish a limited purpose for the Districts and explicit financial constraints that are not to be violated under any circumstances. The primary purpose of the Districts is to provide for the Public Improvements associated with development and regional needs. Operational activities in connection with any trails and related amenities, or other Public Improvements not dedicated to another entity will be allowed subject to entering into an intergovernmental agreement with the Town.

It is the intent of the Districts to initially consolidate and eventually dissolve upon payment or defeasance of all Debt incurred or upon a court determination that adequate provision has been made for the payment of all Debt, and for continuation of any operations approved in an intergovernmental agreement. The Districts may be allowed to continue certain limited operations and to retain those powers necessary to impose and collect taxes or fees to pay for costs and functions if permitted by intergovernmental agreement with the Town.

The Districts shall be authorized to finance the Public Improvements that can be funded from Debt to be repaid from Fees or from tax revenues collected from a mill levy which shall not exceed the Maximum Debt Mill Levy and which shall not exceed the Maximum Debt Mill Levy Imposition Term. It is the intent of this Service Plan to assure to the extent possible that no property bear an economic burden associated with financing such improvements that is greater than that associated with the Maximum Debt Mill Levy in amount and that no property bear an economic burden associated with financing such improvements that is greater than that associated with the Maximum Debt Mill Levy Imposition Term in duration even under bankruptcy or other unusual situations. Generally, the cost of Public Improvements that cannot be funded within these parameters are not costs to be paid by the Districts.

II. DEFINITIONS

In this Service Plan, the following terms shall have the meanings indicated below, unless the context hereof clearly requires otherwise:

Approved Development Plan: means a Subdivision Improvement Agreement or other process established by the Town (including but not limited to approval of a building permit, final plat or PUD by the Town) for identifying, among other things, Public Improvements necessary for facilitating development for property within the Service Area as approved by the Town pursuant to the Town Code and as amended pursuant to the Town Code from time to time.

Board: means the board of directors of each District.

Bond, Bonds or Debt: means bonds or other obligations for the payment of which a District has promised to impose an ad valorem property tax mill levy and/or collect Fee revenue.

Covenant Enforcement and Design Review Services: means those services authorized under Section 32-1-1004(8), C.R.S.

Developer: means Rendezvous Development, LLC, its affiliates, successors and assigns.

District: means any one of the Districts individually.

Districts: means Rendezvous Metropolitan District Nos. 1, 2, 3, 4 and 5 collectively.

End User: means any owner, or tenant of any owner, of any taxable improvement within the Districts who is intended to become burdened by the imposition of ad valorem property taxes subject to the Maximum Aggregate Mill Levy. By way of illustration, a resident homeowner, renter, commercial property owner, or commercial tenant is an End User. The business entity that constructs homes or commercial structures is not an End User.

External Financial Advisor: means a consultant approved by the Town that: (i) advises Colorado governmental entities on matters relating to the issuance of securities by Colorado governmental entities, including matters such as the pricing, sales and marketing of such securities and the procuring of bond ratings, credit enhancement and insurance in respect of such securities; (ii) shall be an underwriter, investment banker, or individual listed as a public finance advisor in the Bond Buyer’s Municipal Market Place; and (iii) is not an officer or employee of the Districts and has not been otherwise engaged to provide services in connection with the transaction related to the applicable Debt.

Fee(s): means any fee imposed by the Districts for services, programs or facilities provided by the Districts, as described in Section V.A.11. below.

Financial Plan: means the Financial Plan described in Section VI, which describes (i) how the Public Improvements are to be financed; (ii) how the Debt is expected to be incurred; and (iii) the estimated operating revenue derived from property taxes. In addition to the information in Section VI the Town may require additional financial forecasts and feasibility reports to support the Financial Plan.

Gallagher Adjustment: means if, on or after January 1, 2018, there are changes in the method of calculating assessed valuation or any constitutionally mandated tax credit, cut or abatement, the Maximum Debt Service Mill Levy, Maximum Operations and Maintenance Mill Levy, and Maximum Aggregate Mill Levy may be increased or decreased to reflect such changes, such increases and decreases to be determined by the Board in good faith (such determination to be binding and final) so that to the extent possible, the actual tax revenues generated by the applicable mill levy, as adjusted for changes occurring on or after January 1, 2018, are neither diminished nor enhanced as a result of such changes. For purposes of the foregoing, a change in the ratio of actual valuation shall be deemed to be a change in the method of calculating assessed valuation. Initial District Boundaries: means the boundaries of the area described in the Initial District Boundary Map.

Initial District Boundary Map: means the map attached hereto as Exhibit C, describing each District’s initial boundaries.

Maximum Aggregate Mill Levy: means the maximum mill levy the Districts are permitted to impose for payment of Debt, capital improvements, administration, operations, and maintenance expenses as set forth in Section VI.C. below.

Maximum Debt Mill Levy: means the maximum mill levy the Districts are permitted to impose for payment of Debt as set forth in Section VI.C. below.

Maximum Debt Mill Levy Imposition Term: means the maximum term for imposition of a mill levy on a particular property developed for residential uses as set forth in Section VI.D. below.

Maximum Operations and Maintenance Mill Levy: means the maximum mill levy the Districts are permitted to impose for payment of operations as set forth in Section VI.C. below.

Project: means the development or property commonly referred to as Rendezvous.

Public Improvements: means a part or all of the improvements authorized to be planned, designed, acquired, constructed, installed, relocated, redeveloped and financed as generally described in the Special District Act, including but not limited to those improvements listed on Exhibit E, depicted in Exhibit F, and as may be described in more detail in an Approved Development Plan, except as may be specifically limited in Section V below, to serve the future taxpayers and inhabitants of the Service Area as determined by the Boards of the Districts.

Service Area: means the property within the Initial District Boundary Map.

Service Plan: means this service plan for the Districts approved by the Town Council.

Service Plan Amendment: means an amendment to the Service Plan approved by Town Council in accordance with the Town’s ordinance and the applicable State law.

Special District Act: means Section 32-1-101, et seq., of the Colorado Revised Statutes, as amended from time to time.

State: means the State of Colorado.

Taxable Property: means real or personal property within the Service Area subject to ad valorem taxes imposed by the Districts.

Town: means the Town of Timnath, Colorado.

Town Code: means the Town Code of the Town of Timnath, Colorado.

Town Council: means the Town Council of the Town of Timnath, Colorado.

III. BOUNDARIES

The area of the Initial District Boundaries includes approximately 158.48 acres. A legal description of the Initial District Boundaries is attached hereto as Exhibit A. A vicinity map is attached hereto as Exhibit B. A map of the Initial District Boundaries is attached hereto as Exhibit C. It is anticipated that the Districts’ boundaries may change from time to time as they undergo inclusions and exclusions pursuant to Section 32-1-401, et seq., C.R.S., and Section 32-1-501, et seq., C.R.S., subject to the limitations set forth in Section V below.

IV. PROPOSED LAND USE / POPULATION PROJECTIONS / ASSESSED VALUATION

The Service Area consists of approximately 158.48 acres of land The current assessed valuation of the Service Area is assumed to be $0.00 for purposes of this Service Plan only and, at build out, is expected to be sufficient to reasonably discharge the Debt as demonstrated by the Financial Plan. The population of the Districts at full build-out is estimated to be approximately 1,800 people.

Approval of this Service Plan by the Town does not imply approval of the development of a specific area within the Districts, nor does it imply approval of the number of residential units or the total site/floor area of commercial or industrial buildings as may be identified in this Service Plan or any of the exhibits attached thereto, unless the same is contained within an Approved Development Plan.

V. DESCRIPTION OF PROPOSED POWERS, IMPROVEMENTS AND SERVICES

A. Powers of the Districts and Service Plan Amendment.

The Districts shall have the power and authority to provide the Public Improvements and limited operation and maintenance services within and, if pursuant to an Approved Development Plan, without the boundaries of the Districts, as such power and authority is described in the Special District Act and other applicable statutes, common law and the Constitution, subject to the limitations set forth herein, and subject to compliance with § 32-1-107(3)(b)(IV), C.R.S. as evidenced by the affidavit attached hereto as Exhibit G, the (“Affidavit Regarding Overlapping Consent”).

If after the Service Plan is approved, the State Legislature includes additional powers or grants new or broader powers for Title 32 districts by amendment of the Special District Act, to the extent permitted by law any or all such powers shall be deemed to be a part hereof and available to be exercised by the Districts upon execution of a written agreement with the Town Council concerning the exercise of such powers. Execution and performance of such agreement by the Districts shall not constitute a material modification of the Service Plan by the Districts.

1. Operations and Maintenance Limitation. The purpose of the Districts is to plan for, design, acquire, construct, install, relocate, redevelop and finance the Public Improvements. The Districts shall dedicate the Public Improvements to the Town or other appropriate jurisdiction in a manner consistent with the Approved Development Plan and other rules and regulations of the Town and applicable provisions of the Town Code. The Districts shall

operate and maintain all trails and related amenities within the Districts pursuant to an intergovernmental agreement with the Town, which shall be executed at the first meeting of the Districts after approval of this Service Plan. Operational activities for other Public Improvements not dedicated to another entity are allowed subject to entering into an intergovernmental agreement with the Town allowing the Town to set minimum standards for maintenance. All parks and trails shall be open to the general public, including Town residents who do not reside in the Districts, free of charge. Any Fee imposed by the Districts for access to recreation improvements owned by the Districts, other than parks and trails, shall not result in Town residents who reside outside the Districts paying a user fee that is greater than, or otherwise disproportionate to, similar fees and taxes paid by residents of the Districts. However, the Districts shall be entitled to impose an administrative Fee as necessary to cover additional expenses associated with use of District recreational improvements, other than parks and trails, by Town residents who do not reside in the Districts to ensure that such costs are not the responsibility of District residents. All such Fees shall be based upon the Districts’ determination that such Fees do not exceed a reasonable annual market fee for users of such facilities. All operations and maintenance Fees and Fee increases shall be subject to review and approval by the Town.

2. Fire Protection Limitation. The Districts shall not be authorized to plan for, design, acquire, construct, install, relocate, redevelop, finance, operate or maintain fire protection facilities or services, unless such facilities and services are provided pursuant to an intergovernmental agreement with the Town. The authority to plan for, design, acquire, construct, install, relocate, redevelop or finance fire hydrants and related improvements installed as part of the water system shall not be limited by this provision.

3. Television Relay and Translation Limitation. The Districts shall not be authorized to plan for, design, acquire, construct, install, relocate, redevelop, finance, operate or maintain television relay and translation facilities and services, other than for the installation of conduit as a part of a street construction project, unless such facilities and services are provided pursuant to an intergovernmental agreement with the Town.

4. Construction Standards Limitation. The Districts will ensure that the Public Improvements are designed and constructed in accordance with the standards and specifications of the Town and of other governmental entities having proper jurisdiction. The Districts will obtain the Town’s approval of civil engineering plans and will obtain applicable permits for construction and installation of Public Improvements prior to performing such work.

5. Financial Advisor Certification. Prior to the issuance of any privately placed Debt, the Districts shall obtain the certification of an External Financial Advisor approved by the Town, in form substantially as follows:

We are [I am] an External Financial Advisor within the meaning of the Districts’ Service Plan.

We [I] certify that: (1) the net effective interest rate (calculated as defined in Section 32-1-103(12), C.R.S.) to be borne by [insert the designation of the Debt] does not exceed a reasonable current [tax-exempt] [taxable] interest rate, using criteria deemed appropriate by us [me] and based upon

our [my] analysis of comparable high yield securities; and (2) the structure of [insert designation of the Debt], including maturities and early redemption provisions, is reasonable considering the financial circumstances of the Districts.

The Districts shall submit notice to the Town Manager of the proposed External Financial Advisor which shall either be approved or objected to within ten (10) days of the selection of an External Financial Advisor. If the Town Manager does not object to such selection within the ten (10) day period, the Town Manager’s approval shall be deemed to have been given.

6. Inclusion Limitation. The Districts shall not include within any of their boundaries any property inside the Service Area without advance notice to the Town. No property will be included within any District at any time unless such property has been annexed into the Town’s corporate limits.

7. Exclusion Limitation. The Districts shall not exclude from their boundaries any property within the Service Area which would result in the property not being within the boundaries of one of the Districts without the prior written consent of the Town. The Districts shall follow the procedure for exclusion of property as provided in Section 32-1-502, C.R.S.

8. Overlap Limitation. The boundaries of the Districts shall not overlap unless the combined mill levies for the overlapping Districts will not at any time exceed the Maximum Debt Mill Levy, the Maximum Operations and Maintenance Mill Levy, and the Maximum Aggregate Mill Levy, respectively. Additionally, the Districts shall not consent to the organization of any other district organized under the Special District Act within the Service Area which will overlap the boundaries of the Districts unless the combined mill levies for the districts will not at any time exceed the Maximum Debt Mill Levy, Maximum Operations and Maintenance Mill Levy, and the Maximum Aggregate Mill Levy, respectively.

9. Initial Debt Limitation. On or before the effective date of approval by the Town of an Approved Development Plan, the Districts shall not: (a) issue any Debt; (b) impose a mill levy for the payment of Debt by direct imposition or by transfer of funds from the operating fund to the Debt service funds; nor (c) impose and collect any Fees used for the purpose of repayment of Debt. This requirement may be waived by administrative action of the Town.

10. Total Debt Issuance Limitation. The Districts shall not issue Debt in excess of the par amount of Forty-Nine Million Eight-Hundred Twenty-Nine Thousand Dollars ($49,829,000) without the prior written consent of the Town. Obligations of the Districts in any intergovernmental agreements vis-à-vis each other concerning the funding and/or operations of the Districts’ Public Improvements and services, for which voter approval will be obtained to the extent required by law, will not count against the Total Debt Issuance Limitation, but will be subject to the Maximum Debt Mill Levy. A refunding, reissuance, or restructuring of outstanding Debt shall also not count against the Total Debt Issuance Limitation.

11. Fee Limitation. The Districts may impose and collect Fees as a source of revenue for repayment of debt, capital costs, and/or for operations and maintenance. Any operations and maintenance Fees and Fee increases not specifically listed herein shall be subject

to review and written approval by the Town, either administratively or by formal action of Town Council, at the discretion of the Town Manager. If the Town does not respond to a request for the imposition of an operations and maintenance Fee or Fee increase within thirty (30) days of receipt of a written request, the Town shall be deemed to have waived its approval authority with respect to the requested operations and maintenance Fee or Fee Increase. Any operation and maintenance Fee imposed without approval as set forth herein shall constitute a material departure from the Service Plan. No Fee related to the funding of costs of a capital nature shall be authorized to be imposed upon or collected from owners of Taxable Property owned or occupied by an End User which has the effect, intentional or otherwise, of creating a direct capital cost payment obligation in any year on any Taxable Property owned or occupied by an End User. Notwithstanding any of the foregoing, the restrictions in this section related to capital fees charged to End Users shall not apply to any Fee imposed upon or collected from Taxable Property for the purpose of funding operation and maintenance costs of the Districts.

12. Monies from Other Governmental Sources. The Districts shall not apply for or accept Conservation Trust Funds, Great Outdoors Colorado Funds, or other funds available from or through governmental or non-profit entities that the Town is eligible to apply for, except pursuant to an intergovernmental agreement with the Town. This limitation shall not apply to specific ownership taxes which shall be distributed to and a revenue source for the Districts without any limitation.

13. Consolidation Limitation. The Districts shall not file a request with any Court to consolidate with another Title 32 district without the prior written consent of the Town, unless such consolidation is among one or more of the Districts.

14. Bankruptcy Limitation. All of the limitations contained in this Service Plan, including, but not limited to, those pertaining to the Maximum Operations Mill Levy, Maximum Aggregate Mill Levy, Maximum Debt Mill Levy, Maximum Debt Mill Levy Imposition Term, and the Fees have been established under the authority of the Town to approve a Service Plan with conditions pursuant to Section 32-1-204.5, C.R.S. It is expressly intended that such limitations:

(a) Shall not be subject to set-aside for any reason or by any court of competent jurisdiction, absent a Service Plan Amendment; and

(b) Are, together with all other requirements of Colorado law, included in the “political or governmental powers” reserved to the State under the U.S. Bankruptcy Code (11 U.S.C.) Section 903, and are also included in the “regulatory or electoral approval necessary under applicable non-bankruptcy law” as required for confirmation of a Chapter 9 Bankruptcy Plan under Bankruptcy Code Section 943(b)(6).

The filing of any bankruptcy petition by the Districts shall constitute, simultaneously with such filing, a material departure of the express terms of this Service Plan, and thus an express violation of the conditional approval of this Service Plan.

15. Water Rights/Resources Limitation. The Districts shall not acquire, own, manage, adjudicate or develop water rights or resources except as otherwise provided pursuant to an intergovernmental agreement with the Town.

16. Extraterritorial Service/Improvements Limitation. The Districts shall not provide any extraterritorial service or public improvements other than those required in an Approved Development Plan for development of property in the Districts’ Service Area without Town consent, which may be obtained administratively, in writing, from the Town Manager.

17. Eminent Domain Limitation. The Districts shall be authorized to utilize the power of eminent domain after entering into a written agreement with the Town.

18. Covenant Enforcement/Design Review. The Districts shall provide all community functions authorized by covenants, conditions and restrictions including the Covenant Enforcement and Design Review Services for the Project, unless otherwise provided pursuant to an intergovernmental agreement with the Town. The Districts shall not impose assessments to fund Covenant Enforcement and Design Review Services, but the Districts shall be authorized to impose Fees to defray the costs of such services. The Districts shall be authorized to contract among themselves to assign responsibility for Covenant Enforcement and Design Review Services.

19. Financial Review. The Town shall be permitted to conduct periodic reviews of the financial powers of the Districts in the Service Plan at its discretion, including more frequently than the so-called “quinquennial” review contemplated by Section 32-1-1101.5, C.R.S. Within sixty (60) days of receipt of notice of the Town’s intent to conduct such a financial review, the Districts shall submit to the Town an application for a finding of reasonable due diligence setting forth the amount of the Districts’ authorized but unissued general obligation debt, any current or anticipated plan to issue such debt, a copy of each District’s last audit or audit exemption, and any other information required by the Town relevant to making its determination of due diligence as provided below. The Town’s procedures for conducting a financial review under this Paragraph 19, and the remedies available to the Town as a result of such financial review shall be identical to those provided for in Section 32-1-1101.5(2), C.R.S.

B. Service Plan Amendment Requirement.

This Service Plan has been designed with sufficient flexibility to enable the Districts to provide required services and facilities under evolving circumstances without the need for numerous amendments. Actions of the Districts which violate the limitations set forth in V.A. above or in VI.. shall be deemed to be material modifications to this Service Plan and the Town shall be entitled to all remedies available under State and local law to enjoin such actions of the Districts, including the remedy of enjoining the issuance of additional authorized but unissued debt, until such material modification is remedied.

C. Preliminary Engineering Survey.

The Districts shall have authority to provide for the planning, design, acquisition, construction, installation, relocation, redevelopment, maintenance, and financing of the Public Improvements within and without the boundaries of the Districts, as set forth in this Service Plan and as may be more specifically defined in an Approved Development Plan. A preliminary engineering survey, including a list of the proposed Public Improvements to be developed by the Districts and an estimate of the cost of such Public Improvements is attached hereto as Exhibit E

and is hereby deemed to constitute the preliminary engineering or architectural survey required by Section 32-1-202(2)(c), C.R.S. A conceptual plan depicting the proposed Public Improvements is attached hereto as Exhibit F.

As shown in the preliminary engineering survey, the estimated cost of the proposed Public Improvements which may be planned for, designed, acquired, constructed, installed, relocated, redeveloped, maintained or financed by the Districts is approximately Thirty-Nine Million Eight-Hundred Sixty-Three Thousand Seven-Hundred Eleven Dollars ($39,863,711).

The Districts shall be permitted to allocate costs between such categories of the Public Improvements as deemed necessary in their discretion.

All of the Public Improvements described herein will be designed in such a way as to assure that the Public Improvements standards will be consistent with or exceed the standards of the Town, or any other appropriate entity providing a service the Town does not provide, and in accordance with the requirements of the Approved Development Plan. All descriptions of the proposed Public Improvements to be constructed, and their related costs, are estimates only and are subject to modification as engineering, development plans, economics, the Town’s requirements, and construction scheduling may require. Upon approval of this Service Plan, the Districts will continue to develop and refine the preliminary engineering survey and the conceptual plan depicting the Public Improvements, as necessary, and prepare for the issuance of Debt. All construction cost estimates contained in Exhibit E assume construction to applicable local, State or federal requirements. Additionally, due to the preliminary nature of the preliminary engineering survey, the Town shall not be bound by the preliminary engineering survey in reviewing and approving the Approved Development Plan and the Approved Development Plan shall supersede the preliminary engineering survey.

D. Multiple District Structure.

It is anticipated that the Districts, collectively, will undertake the financing and construction of the improvements contemplated herein. Specifically, the Districts shall enter into an intergovernmental agreement which shall govern the relationships between and among the Districts with respect to the financing, construction and operation of the improvements contemplated herein. The Districts will establish a mechanism whereby any one or more of the Districts may separately or cooperatively fund, construct, install and operate the improvements.

VI. FINANCIAL PLAN

A. General.

The Districts shall be authorized to provide for the planning, design, acquisition, construction, installation, relocation and/or redevelopment of the Public Improvements from its revenues and by and through the proceeds of Debt to be issued by the Districts. The Financial Plan for the Districts shall be to issue such Debt as the Districts can reasonably pay within the Maximum Debt Mill Levy Imposition Term from revenues derived from the Maximum Debt Mill Levy and other legally available revenues. The total Debt that the Districts shall be permitted to issue shall not exceed Forty-Nine Million Eight-Hundred Twenty-Nine Thousand Dollars

($49,829,000) without the prior written consent of the Town. The Debt shall be permitted to be issued on a schedule and in such year or years as the Districts determines shall meet the needs of the Financial Plan referenced above and phased to serve development as it occurs. All Bonds and other Debt issued by the Districts may be payable from any and all legally available revenues of the Districts, including general ad valorem taxes and Fees to be imposed upon all Taxable Property within the Districts. 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 Section 32-1-1001(1), C.R.S., as amended from time to time, subject to the limits in this Service Plan. In addition to the information in this Section VI, the Town may require additional financial forecasts and feasibility reports.

B. Maximum Voted Interest Rate and Maximum Underwriting Discount.

The interest rate on any Debt is expected to be the market rate at the time the Debt is issued. All debt-related election ballot questions shall provide that in the event of a default, the proposed maximum interest rate on any Debt shall not exceed eighteen percent (18%). All debt-related election ballot questions shall provide that the proposed maximum underwriting discount for Debt will be five percent (5%). Debt, when issued, will comply with all relevant requirements of this Service Plan, State law and Federal law as then applicable to the issuance of public securities. All debt-related election ballot questions shall be drafted so as to limit each District’s debt service mill levy to the Maximum Debt Mill Levy. Prior to any election to authorize the issuance of debt, each District shall cause a letter prepared by an attorney licensed in the State of Colorado to be provided to the Town opining that the requirements of this paragraph have been satisfied. Failure to observe the requirements established in this paragraph shall constitute a material modification under the Service Plan and shall entitle the Town to all remedies available at law and in equity, including the remedies provided for in Section V(19), herein.

C. Maximum Mill Levies.

1. The Maximum Debt Mill Levy shall be the maximum mill levy a District is permitted to impose upon the taxable property within such District for payment of Debt, and shall be fifty (50) mills, subject to Gallagher Adjustment. Notwithstanding the foregoing, the Maximum Debt Mill Levy that a District is permitted to impose on any property owned by the Town or the Town’s successors in interest shall be fifteen (15) mills, subject to Gallagher Adjustment.

2. The Maximum Operations and Maintenance Mill Levy shall be the maximum mill levy the Districts are permitted to impose upon the taxable property within the Districts for payment of administration, operations, maintenance, and capital costs, and shall be fifty (50) mills, subject to Gallagher Adjustment. Notwithstanding the foregoing, the Maximum Operations and Maintenance Mill Levy that a District is permitted to impose on any property owned by the Town or the Town’s successor in interest shall be three (3) mills, subject to Gallagher Adjustment.

3. The Maximum Aggregate Mill Levy shall be the maximum combined mill levy a District is permitted to impose upon the taxable property within the District for payment of all expense categories, including but not limited to: Debt, capital costs, and administration, operations and maintenance costs, and shall be fifty (50) mills, which maximum shall be inclusive of the Maximum Debt Service Mill Levy and the Maximum Operations and Maintenance Mill Levy. The Maximum Aggregate Mill Levy shall be subject to Gallagher Adjustment. Except as provided in this paragraph, the provisions below, or pursuant to separate intergovernmental agreement entered into with the Town under extraordinary circumstances, the Maximum Aggregate Mill Levy shall not be exceeded under any circumstances. Imposition by a District of a mill levy in excess of this limitation shall constitute a material departure from this Service Plan. Notwithstanding the foregoing, the Maximum Aggregate Mill Levy applicable to any property owned the Town or the Town’s successor in interest shall be eighteen (18) mills, subject to Gallagher Adjustment.

4. If the total amount of aggregate Debt of a District is equal to or less than fifty percent (50%) of that District’s assessed valuation, either on the date of issuance or at any time thereafter, the Maximum Debt Mill Levy, the Maximum Operations and Maintenance Mill Levy, and the Maximum Aggregate Mill Levy will each be increased to sixty (60) mills.

5. For purposes of the foregoing, once Debt has been determined to be within Section VI.C.4. above, so that the Districts are entitled to pledge to their debt service payments the increased Maximum Debt Mill Levy as described above, the Districts may provide that such Debt shall remain secured by the increased Maximum Debt Mill Levy as described above, notwithstanding any subsequent change in the Districts’ Debt to assessed ratio. All Debt issued by the Districts must be issued in compliance with the requirements of Section 32-1-1101, C.R.S., and all other requirements of State law.

6. To the extent that a District is composed of or subsequently organized into one or more subdistricts as permitted under Section 32-1-1101, C.R.S., the term “District” as used herein shall be deemed to refer to each District and to each such subdistrict separately, so that each of the subdistricts shall be treated as a separate, independent district for purposes of the application of this definition.

7. Any Debt, issued with a pledge or which results in a pledge, that exceeds the Maximum Debt Mill Levy and the Maximum Debt Mill Levy Imposition Term, shall be deemed a material modification of this Service Plan pursuant to Section 32-1-207, C.R.S., and shall not be an authorized issuance of Debt unless and until such material modification has been approved by the Town as part of a Service Plan Amendment.

D. Maximum Debt Mill Levy Imposition Term.

No District shall have any authority to impose or collect any mill levy, fee, charge, rate, toll or any other financial burden on property or persons for repayment of any and all Debt (or use the proceeds hereof for repayment of Debt) on any single property developed for residential uses which exceeds forty (40) years after the year of the initial imposition of a debt service mill levy by the District in which such property is located, unless a majority of the Board are residents

of the District and the Board shall have voted in favor of a refunding of a part or all of the Debt. At the end of the forty (40) year term any and all Debt that has not been paid shall be forgiven.

E. Debt Repayment Sources.

The Districts may impose a mill levy on taxable property within their boundaries as a primary source of revenue for repayment of debt service and for operations and maintenance. The Districts may also rely upon various other revenue sources authorized by law. At the Districts’ discretion, these may include the power to assess fees, rates, tolls, penalties, or charges as provided in Section 32-1-1001(l), C.R.S., as amended from time to time. In no event shall the debt service mill levy in the Districts exceed the Maximum Debt Mill Levy or the Maximum Debt Mill Levy Imposition Term.

F. Debt Instrument Disclosure Requirement.

In the text of each Bond and any other instrument representing and constituting Debt, the Districts shall set forth a statement in substantially the following form:

By acceptance of this instrument, the owner of this Bond agrees and consents to all of the limitations in respect of the payment of the principal of and interest on this Bond contained herein, in the resolution of the District authorizing the issuance of this Bond and in the Service Plan for creation of the District.

Similar language describing the limitations in respect of the payment of the principal of and interest on Debt set forth in this Service Plan shall be included in any document used for the offering of the Debt for sale to persons, including, but not limited to, a developer of property within the boundaries of the Districts.

G. Security for Debt.

The Districts shall not pledge any revenue or property of the Town as security for the indebtedness set forth in this Service Plan. Approval of this Service Plan shall not be construed as a guarantee by the Town of payment of any of the Districts’ obligations; nor shall anything in the Service Plan be construed so as to create any responsibility or liability on the part of the Town in the event of default by the Districts in the payment of any such obligation.

H. TABOR Compliance.

The Districts will comply with the provisions of TABOR. In the discretion of the Board, of any one or all of 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 the Districts’ Boards.

I. District Operating Costs.

The estimated cost of acquiring land, engineering services, legal services and administrative services, together with the estimated costs of the Districts’ organization and initial operations, are anticipated to be $75,000, which will be eligible for reimbursement from Debt proceeds.

In addition to the capital costs of the Public Improvements, the Districts will require operating funds for administration and to plan and cause the Public Improvements to be constructed and maintained. The first year’s operating budget is estimated to be $50,000 which is anticipated to be derived from property taxes and other revenues.

VII. ANNUAL REPORT

A. General.

The Districts shall be responsible for submitting an annual report to the Town Manager’s Office no later than August 1 of each year following the year in which the Order and Decree creating the Districts has been issued.

B. Reporting of Significant Events.

The annual report shall include information as to any of the following:

1. Boundary changes made or proposed to the Districts’ boundaries as of December 31 of the prior year.

2. Intergovernmental Agreements with other governmental entities, either entered into or proposed, as of December 31 of the prior year.

3. Copies of the Districts’ rules and regulations, if any, as of December 31 of the prior year.

4. A summary of any litigation which involves the Public Improvements as of December 31 of the prior year.

5. Status of the Districts’ construction of the Public Improvements as of December 31 of the prior year.

6. A list of all facilities and improvements constructed by the Districts that have been dedicated to and accepted by the Town as of December 31 of the prior year.

7. The assessed valuation of the Districts for the current year.

8. Current year budget including a description of the Public Improvements to be constructed in such year.

9. Audit of the Districts’, and any entity formed by one or more of the Districts, financial statements for the year ending December 31 of the previous year, prepared in accordance with generally accepted accounting principles or audit exemption, if applicable.

10. Notice of any uncured events of default by any of the Districts, which continue beyond a ninety (90) day period, under any Debt instrument.

11. Any inability of a District to pay its obligations as they come due, in accordance with the terms of such obligations, which continue beyond a ninety (90) day period.

In addition to the annual report, the Districts will be required to submit to a periodic review, unlimited in scope, as provided for in Section V(19) herein.

VIII. DISSOLUTION

Upon an independent determination by the Town Council that the purposes for which a District was created have been accomplished, all powers contained in the service plan will be suspended except as necessary to develop and propose a plan for dissolution and to conduct all proceedings required for the dissolution, including an election, if necessary. The Districts agree to file petitions and a plan for dissolution with the Town for review and approval before filing said documents in the appropriate district court in accordance with Section 32-1-701, et seq., C.R.S.

No dissolution shall occur until the Districts have provided for payment or discharge of all of their outstanding indebtedness and other financial obligations as required pursuant to State statutes, and the assignment or assumption of all operating and maintenance responsibilities for the Districts improvements to other entities or owners’ associations.

IX. DISCLOSURE TO PURCHASERS

The Districts will use reasonable efforts to assure that all developers of the property located within the Districts provide written notice to all purchasers of property in the Districts regarding the Maximum Aggregate Mill Levy, as well as a general description of the Districts’ authority to impose and collect rates, Fees, tolls and charges. The form of notice shall be filed with the Town prior to the initial issuance of the Debt of the District imposing the mill levy which is the subject of the Maximum Aggregate Mill Levy.

X. INTERGOVERNMENTAL AGREEMENTS

The form of the intergovernmental agreement, relating to the limitations imposed on the Districts’ activities, is attached hereto as Exhibit D. The Districts shall approve the intergovernmental agreement in the attached form at its first Board meeting after its organizational election. Failure of the Districts to execute the intergovernmental agreement as required herein shall constitute a material modification and shall require a Service Plan Amendment. The Town Council shall approve the intergovernmental agreement in the attached form at the public hearing approving the Service Plan. Any determination by a court of competent jurisdiction that such intergovernmental agreement is invalid, nonbinding, or unenforceable in any material degree shall be deemed a material departure from the express terms of this Service Plan.

All third party intergovernmental agreements must be submitted to the Town for review and approval by the Town before execution by the Districts. Third-party intergovernmental agreements shall either be approved or objected to within ten (10) business days of submittal. If the Town Manager does not object to the intergovernmental agreement within the ten (10) business day period, the Town Manager’s approval shall be deemed to have been given. The Districts and the Town shall work cooperatively to resolve any issues or concerns in a reasonable and expeditious manner. At the time of submittal of the third party intergovernmental agreements for consideration of the Town, the Districts shall include notice of the required review timeline for consideration to the Town Manager.

XI. CONCLUSION

It is submitted that this Service Plan for the Districts, as required by Section 32-1-203(2), C.R.S., establishes that:

1. There is sufficient existing and projected need for organized service in the area to be serviced by the Districts.

2. The existing service in the area to be served by the Districts is inadequate for present and projected needs.

3. The Districts are capable of providing economical and sufficient service to the area within their proposed boundaries.

4. The area to be included in the Districts has, or will have, the financial ability to discharge the proposed indebtedness on a reasonable basis.

EXHIBIT A

Legal Descriptions of Initial District Boundaries

EXHIBIT B

Timnath Vicinity Map

RENDEZVOUS

0' 800' 1600' 40000'

RENDEZVOUS VICINITY MAP02.16.2018HARTFORD HOMES, LLC

SCALE : 1" = 800'-0"

EXHIBIT C

Initial District Boundaries Map

EXHIBIT D

Intergovernmental Agreement between the Districts and Timnath

INTERGOVERNMENTAL AGREEMENT BETWEEN

THE TOWN OF TIMNATH, COLORADO AND


THIS AGREEMENT is made and entered into as of this _____ day of ______________ 2018, by and between the TOWN OF TIMNATH, a home-rule municipal corporation of the State of Colorado (“Town”), and RENDEZVOUS METROPOLITAN DISTRICT NOS. 1-5, quasi-municipal corporations and political subdivisions of the State of Colorado (the “Districts”). The Town and the Districts are collectively referred to as the Parties.

RECITALS

WHEREAS, the Districts were organized to provide those services and to exercise powers as are more specifically set forth in the Districts’ Service Plan approved by the Town on ____________________ (“Service Plan”); and

WHEREAS, the Service Plan makes reference to the execution of an intergovernmental agreement between the Town and the Districts, as required by the Timnath Town Code; and

WHEREAS, the Town and the Districts have determined it to be in the best interests of their respective taxpayers, residents and property owners to enter into this Intergovernmental Agreement (“Agreement”).

NOW, THEREFORE, in consideration of the covenants and mutual agreements herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows:

COVENANTS AND AGREEMENTS

1. Operations and Maintenance. The purpose of the Districts is to plan for, design, acquire, construct, install, relocate, redevelop and finance the Public Improvements. The Districts shall dedicate the Public Improvements to the Town or other appropriate jurisdiction in a manner consistent with the Approved Development Plan and other rules and regulations of the Town and applicable provisions of the Town Code. The Districts shall operate and maintain all trails and related amenities pursuant to an intergovernmental agreement with the Town, which shall be executed at the first meeting of the Districts after approval of the Service Plan. Operational activities for other Public Improvements not dedicated to another entity are allowed subject to entering into an intergovernmental agreement with the Town allowing the Town to set minimum standards for maintenance. Any Fee imposed by the Districts for access to recreation improvements owned by the Districts shall not result in Town residents who reside outside the Districts paying a user fee that is greater than, or otherwise disproportionate to, similar fees and taxes paid by residents of the Districts. However, the Districts shall be entitled to impose an administrative Fee as necessary to cover additional expenses associated with use of District park and recreational improvements by Town residents who do not reside in the Districts to ensure that such costs are not the responsibility of a District’s residents, provided that such administrative Fee

shall not result in Town residents who reside outside the Districts paying a user fee that is greater than, or otherwise disproportionate to, similar fees and taxes paid by residents of the Districts. All such Fees shall be based upon the District’s determination that such Fees do not exceed a reasonable annual market fee for users of such facilities. All operations and maintenance Fees and Fee increases shall be subject to review and approval by the Town. Notwithstanding the foregoing, all parks and trails shall be open to the general public, including Town residents who do not reside in the Districts, free of charge.

2. Service Plan. The Districts shall not take any action, including without limitation the issuance of any obligations or the imposition of any tax or fee, which would constitute material modification of the Service Plan as set forth in Section 32-1-207(2), C.R.S. Actions of the Districts which violate any restriction set forth in the Service Plan constitute a material modification of the Service Plan that shall be a default under this Agreement, and shall entitle the Town to protect and enforce its rights under this Agreement by such suit, action, or special proceedings as the Town deems appropriate. It is intended that the contractual remedies herein shall be in addition to any remedies the Town may have or actions the Town may bring under Section 32-1-207, C.R.S., or any other applicable statute. The Town may impose any sanctions allowed by the Timnath Municipal Code or statute. Nothing herein is intended to modify or prevent the use of the provisions of Section 32-1-207(3)(b), C.R.S, however, the time limits of Section 32-1-207(3)(b), C.R.S., as such time limits apply to the Town, are expressly waived by the Districts.

3. The Service Plan grants authority to the Districts to construct some or all of the Public Improvements identified therein. If the Districts elect not to provide certain of the Public Improvements that are assigned to it as part of an Approved Development Plan, the Districts shall notify the Town in writing of such election whereupon the Town shall have forty-five (45) days to provide a letter to the Districts that such election does not constitute a material modification hereof or to otherwise advise the Districts of the obligation to seek a formal amendment to this Service Plan. If the Town determines that such election does not constitute a material modification hereof, the Districts shall submit a written modification of this Service Plan to the Town for administrative approval as a nonmaterial modification whereupon the authority of the Districts to provide such Public Improvements shall be deemed stricken from this Service Plan. In all events, the Town and the Districts acknowledge that the Districts are independent units of local government, separate and distinct from the Town, and, except as may otherwise be provided for by State or local law or the Service Plan.

4. Notices. All notices, demands, requests or other communications to be sent by one Party to the other hereunder or required by law shall be in writing and shall be deemed to have been validly given or served by delivery of same in person to the address or by courier delivery, via United Parcel Service or other nationally recognized overnight air courier service, or by depositing same in the United States mail, postage prepaid, addressed as follows:

To the Districts:

Rendezvous Metropolitan District Nos. 1-5 4801 Goodman Street Timnath, CO 80547

With copy to:

Spencer Fane LLP Attn: David O’Leary 1700 Lincoln, Suite 2000 Denver, CO 80203 Phone: 303-839-3800 Fax: 303-839-3838

To the Town: With copy to:

Town of Timnath Attn: Town Manager 4800 Goodman Street Timnath, CO 80547 Phone: 970-224-3211 Fax: 970-224-3217 White, Bear & Ankele, P.C. 2154 East Commons Avenue, Suite 2000 Centennial, CO 80122 Phone: 303-858-1800 Fax: 303-858-1801

All notices, demands, requests or other communications shall be effective upon such

personal delivery or one (1) business day after being deposited with United Parcel Service or other nationally recognized overnight air courier service, or three (3) business days after deposit in the United States mail. By giving the other party hereto at least ten (10) days’ written notice thereof in accordance with the provisions hereof, each of the Parties shall have the right from time to time to change its address.

5. Amendment. This Agreement may be amended, modified, changed, or terminated in whole or in part only by a written agreement duly authorized and executed by the Parties hereto and without amendment to the Service Plan.

6. Assignment. Neither Party hereto shall assign any of its rights nor delegate any of its duties hereunder to any person or entity without having first obtained the prior written consent of the other Party, which consent will not be unreasonably withheld. Any purported assignment or delegation in violation of the provisions hereof shall be void and ineffectual.

7. Default/Remedies. In the event of a breach or default of this Agreement by any Party, the non-defaulting Party shall be entitled to exercise all remedies available at law or in equity, specifically including but not limited to suits for declaratory judgment, specific performance, injunction, and/or monetary damages. In the event of any proceeding to enforce the terms, covenants or conditions hereof, the prevailing Party in such proceeding shall be entitled to obtain as part of its judgment or award its reasonable attorneys’ fees.

8. Governing Law and Venue. This Agreement shall be governed and construed under the laws of the State of Colorado.

9. Inurement. Each of the terms, covenants and conditions hereof shall be binding upon and inure to the benefit of the Parties hereto and their respective successors and assigns.

10. Integration. This Agreement constitutes the entire agreement between the Parties with respect to the matters addressed herein. All prior discussions and negotiations regarding the subject matter hereof are merged herein.

11. Parties Interested Herein. Nothing expressed or implied in this Agreement is intended or shall be construed to confer upon, or to give to, any person other than the Districts and the Town any right, remedy, or claim under or by reason of this Agreement or any covenants, terms, conditions, or provisions thereof, and all the covenants, terms, conditions, and provisions in this Agreement by and on behalf of the Districts and the Town shall be for the sole and exclusive benefit of the Districts and the Town.

12. Severability. If any covenant, term, condition, or provision under this Agreement shall, for any reason, be held to be invalid or unenforceable, the invalidity or unenforceability of such covenant, term, condition, or provision shall not affect any other provision contained herein, the intention being that such provisions are severable.

13. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall constitute an original and all of which shall constitute one and the same document.

14. Paragraph Headings. Paragraph headings are inserted for convenience of reference only.

15. Defined Terms. Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Service Plan.

16. Additional Provisions. Notwithstanding any provision in the Service Plan to the contrary, the Town hereby provides its consent and approves the following additional authorizations for the Districts, subject to final approval of this intergovernmental agreement with the Town, to be executed at the first meeting of the Districts after approval of this Service Plan.

a. Certain Offsite Improvements Permitted. The Parties acknowledge that construction of certain offsite improvements will be required by an Approved Development Plan for the property within the Districts, and that such offsite improvements are necessary for development and will benefit property within the Districts and the Districts’ constituents. The Parties acknowledge that some of these improvements may be outside of the Districts’ boundaries but are necessary to provide standard and necessary public facilities and improvements to the development. The Districts are hereby authorized to construct and finance such improvements provided such improvements are constructed in accordance with an Approved Development Plan.

b. The Town acknowledges that the developer of property within the Districts may record covenants against property within the Districts’ boundaries establishing a master owners’ association and providing for the creation of one or more subassociations which are intended and authorized to perform covenant enforcement and provide certain operation and maintenance functions, which may be in addition to or in lieu of the provision of such services by

the Districts, to satisfy the needs and expectations of residents within the Districts regarding levels of services and amenities that are unique to the development and portions thereof.

c. Amendment to Water Rights/Resources Limitation. The Districts shall be allowed to acquire, own, manage, adjudicate or develop non-potable water rights or resources for the limited purposes of providing landscape maintenance and non-potable irrigation for common areas within the boundaries of the Districts as may be expanded from time to time. Such facilities and improvements necessary to provide for non-potable irrigation shall be constructed in accordance with an Approved Development Plan. The Districts agree to not acquire additional water for resale purposes.

d. Ownership, Operations and Maintenance of Facilities and Services. The Districts shall dedicate the Public Improvements to the Town or other appropriate jurisdiction or owners association in a manner consistent with a final Approved Development Plan and other rules and regulations of the Town and applicable provisions of the Town Code. The Districts shall undertake ownership, operation and maintenance of those public facilities, and shall furnish related services, or shall dedicate and convey to the Town, the Fort Collins – Loveland Water District, or the Boxelder Sanitation District those certain facilities permitted pursuant to an Approved Development Plan and dedication and conveyance as set forth in such agreements. To the extent certain Public Improvements are not dedicated and accepted by the Town or other appropriate jurisdiction or owners association in a manner consistent with Approved Development Plans and applicable provisions of the Town Code, the Districts shall be authorized to operate and maintain any part of the Public Improvements, provided that certain minimum standards for maintenance set by the Town are met. The Districts shall be permitted to own, operate and maintain the following: all trails and related amenities within the Service Area of the Districts, landscaping, entry features, fencing, setbacks, irrigated and non-irrigated turf and open spaces, non-potable irrigation water systems and related improvements, streetscaping, ponds, lakes and water features, and pools and recreation facilities. The Districts shall be allowed to provide for covenant enforcement and design review within the Districts.


By: President

Attest: Secretary

TOWN OF TIMNATH, COLORADO

By:

Mayor Attest: By: Its: APPROVED AS TO FORM: _____________________________________

EXHIBIT E

Preliminary Engineering Survey

Date 2/16/2018

Lots: 0 Lots: 182 Lots: 233 Lots: 157 Lots: 11 Lots: 583

Group Activity Unit Unit Cost Qty Total Per Lot Qty Total Per Lot Qty Total Per Lot Qty Total Per Lot Qty Total Per Lot Qty Total Total Per Lot

Earthwork Earthwork Subtotal LS - 31,425 31,425 - 411,240 2,260 - 174,721 750 - 165,482 1,054 - 26,951 2,450 - 809,820 1,389

Sanitary Sanitary Subtotal LS - - - - 1,315,922 7,230 - 738,908 3,171 - 672,332 4,282 - 128,894 11,718 - 2,856,057 4,899

Water Water Subtotal LS - - - - 1,396,848 7,675 - 902,412 3,873 - 758,257 4,830 - 275,454 25,041 - 3,332,970 5,717

Storm Storm Subtotal LS - 206,039 206,039 - 1,356,785 7,455 - 804,571 3,453 - 862,236 5,492 - 300,794 27,345 - 3,530,426 6,056

Concrete Concrete Subtotal LS - - - - 1,375,326 7,557 - 801,808 3,441 - 1,099,783 7,005 - 441,168 40,106 - 3,718,085 6,378

Asphalt Asphalt Subtotal LS - 575 575 - 1,646,639 9,047 - 1,452,088 6,232 - 1,378,979 8,783 - 293,272 26,661 - 4,771,552 8,184

Erosion Erosion Control, Maint. Subtotal LS - 68,000 68,000 - 68,000 374 - 68,000 292 - 68,000 433 - 68,000 6,182 - 340,000 583

Landscaping Landscaping and Fence Subtotal LS - 250,000 250,000 - 2,519,335 13,842 - 2,524,654 10,835 - 4,023,103 25,625 - 753,120 68,465 - 10,070,212 17,273

Dry Utilities Subtotal Dry Utilities LS - - - - 129,000 709 - 129,000 554 - 90,000 573 - 30,000 2,727 - 378,000 648

Misc. Miscellaneous Subtotal LS - 358,770 358,770 - 3,324,660 18,267 - 2,457,667 10,548 - 2,847,436 18,137 - 1,068,056 97,096 - 10,056,588 17,250

Total Development Costs 914,809 914,809 13,543,754 74,416 10,053,830 43,149 11,965,607 76,214 3,385,710 307,792 - 39,863,711 68,377

Rendezvous

Metro District Cost Estimate

Total ProjectDistrict 1 District 2 District 3 District 4 District 5

Date 2/16/2018



Earthwork Mobilization LS 7,500.00$ 1 7,500 7,500 1 7,500 41.21 1 7,500 32.19 1 7,500 47.77 1 7,500 682 5 37,500 64.32

Earthwork Strip Topsoil CY 2.00$ 1,187 2,375 2,375 25,796 51,593 283.48 16,502 33,004 141.65 19,806 39,612 252.31 2,008 4,016 365 65,300 130,599 224

Earthwork Overlot Grading CY 2.25$ 9,289 20,900 20,900 72,599 163,348 897.52 26,030 58,568 251.36 52,320 117,720 749.81 6,860 15,435 1,403 167,098 375,971 645

Earthwork Rock Excavation CY 75.00$ - - - 2,500 187,500 1,030.22 - - - - - - - - - 2,500 187,500 322

Earthwork Demolition - Existing house and access. LS 65,000.00$ - - - - - - 1 65,000 278.97 - - - - - - 1 65,000 111

Earthwork Demolition - Existing irr. channel and fences LS 10,000.00$ - - - - - - 1 10,000 42.92 - - - - - - 1 10,000 17

Earthwork Temp Sediment Basin LS 650.00$ 1 650 650 2 1,300 7.14 1 650 2.79 1 650 4.14 - - - 5 3,250 6

Earthwork Earthwork Subtotal LS - 31,425 31,425 - 411,240 2,260 - 174,721 750 - 165,482 1,054 - 26,951 2,450 - 809,820 1,389

Sanitary Mobilization LS 5,000.00$ - - - 1 5,000 27 1 5,000 21 1 5,000 32 1 5,000 455 4 20,000 34

Sanitary Connect to Existing LS 1,750.00$ - - - 1 1,750 10 1 1,750 8 - - - - - - 2 3,500 6

Sanitary Sanitary Sewer Dewatering DAY 1,000.00$ - - - 10 10,000 55 10 10,000 43 10 10,000 64 10 10,000 909 40 40,000 69

Sanitary Sanitary Sewer 8" (00'-10') LF 45.00$ - - - 5,232 235,461 1,294 2,850 128,245 550 2,322 104,508 666 1,368 61,581 5,598 11,773 529,795 909

Sanitary Sanitary Sewer 8" (10'-12') ADD LF 47.50$ - - - 4,186 198,834 1,092 2,280 108,296 465 1,858 88,251 562 - - - 8,324 395,381 678

Sanitary Sanitary Sewer 8" (12'-15') ADD LF 50.00$ - - - 628 31,395 172 342 17,099 73 279 13,934 89 - - - 1,249 62,429 107

Sanitary Sanitary Sewer 8" (15' and over) ADD LF 55.00$ - - - 419 23,023 126 228 12,540 54 186 10,219 65 - - - 832 45,781 79

Sanitary Sanitary Sewer 12" (15' and over) ADD LF 65.00$ - - - 2,197 142,791 785 71 4,609 20 1,043 67,780 432 - - - 3,310 215,179 369

Sanitary Sanitary Manholes (00'-12') EA 4,500.00$ - - - 43 193,500 1,063 26 117,000 502 20 90,000 573 7 31,500 2,864 96 432,000 741

Sanitary Sanitary Manholes (12'-15') ADD EA 4,750.00$ - - - 3 14,250 78 2 9,500 41 2 9,500 61 - - - 7 33,250 57

Sanitary Sanitary Manholes (15' and over) ADD EA 5,000.00$ - - - 10 50,000 275 6 30,000 129 5 25,000 159 - - - 21 105,000 180

Sanitary 4" Sanitary Service EA 1,550.00$ - - - 242 375,100 2,061 180 279,000 1,197 150 232,500 1,481 11 17,050 1,550 583 903,650 1,550

Sanitary Jetting / Camera LF 2.75$ - - - 12,662 34,820 191 5,771 15,869 68 5,688 15,641 100 1,368 3,763 342 25,488 70,093 120

Sanitary Sanitary Subtotal LS - - - - 1,315,922 7,230 - 738,908 3,171 - 672,332 4,282 - 128,894 11,718 - 2,856,057 4,899

Water Mobilization LS 5,000.00$ - - - 1 5,000 27 1 5,000 21 1 5,000 32 1 5,000 455 4 20,000 34

Water Connect to Existing EA 1,150.00$ - - - 2 2,300 13 1 1,150 5 1 1,150 7 - - - 4 4,600 8

Water Water Main 8" LF 35.00$ - - - 8,747 306,162 1,682 8,325 291,381 1,251 5,698 199,432 1,270 3,680 128,804 11,709 26,451 925,779 1,588

Water Water Main 8" x 8" Tee or Cross EA 1,000.00$ - - - 12 12,000 66 19 19,000 82 7 7,000 45 7 7,000 636 45 45,000 77

Water Water Main 8" Gate Valve EA 2,000.00$ - - - 51 102,000 560 51 102,000 438 29 58,000 369 24 48,000 4,364 155 310,000 532

Water Water Main 8" Bend (Any) EA 450.00$ - - - 23 10,350 57 37 16,650 71 21 9,450 60 6 2,700 245 87 39,150 67

Water Water Main 12" ADD LF 49.00$ - - - 3,854 188,836 1,038 1,861 91,181 391 - - - - - - 5,715 280,017 480

Water Water Main 12" x 8" Cross EA 1,250.00$ - - - 4 5,000 27 - - - 1 1,250 8 - - - 5 6,250 11

Water Water Main 12" x 8" Tee EA 1,150.00$ - - - 4 4,600 25 - - - 2 2,300 15 - - - 6 6,900 12

Water Water Main 12" x 12" Tee EA 1,250.00$ - - - 3 3,750 21 1 1,250 5 3 3,750 24 - - - 7 8,750 15

Water Water Main 12" Gate Valve EA 2,500.00$ - - - 21 52,500 288 9 22,500 97 - - - - - - 30 75,000 129

Water Water Main 12" (11 or 22 Bend) EA 500.00$ - - - 10 5,000 27 1 500 2 - - - - - - 11 5,500 9

Water Water Main 12" (45 Bend) EA 500.00$ - - - - - - 4 2,000 9 - - - - - - 4 2,000 3

Water Dry Utility Conduit (Per Crossing) EA 450.00$ - - - 51 22,950 126 16 7,200 31 28 12,600 80 15 6,750 614 110 49,500 85

Water 3/4" Meter Pit, 3/4" Valve, Curb Stop EA 575.00$ - - - 202 116,150 638 80 46,000 197 157 90,275 575 - - - 439 252,425 433

Water 1.5" Meter Pit, 1.5" Valve, Curb Stop DU 700.00$ - - - 1 700 4 28 19,600 84 - - - 11 7,700 700 40 28,000 48

Water 3/4" Water Service EA 1,900.00$ - - - 202 383,800 2,109 80 152,000 652 157 298,300 1,900 - - - 439 834,100 1,431

Water 1.5" Water Service EA 2,500.00$ - - - 1 2,500 14 28 70,000 300 - - - 11 27,500 2,500 40 100,000 172

Water Fire Hydrant Assembly EA 6,000.00$ - - - 26 156,000 857 8 48,000 206 10 60,000 382 6 36,000 3,273 50 300,000 515

Water FH Water Main 12" x 6" Tee EA 1,250.00$ - - - 5 6,250 34 - - - 3 3,750 24 - - - 8 10,000 17

Water FH Water Main 8" x 6" Tee EA 1,000.00$ - - - 11 11,000 60 7 7,000 30 6 6,000 38 6 6,000 545 30 30,000 51

Water Water Subtotal LS - - - - 1,396,848 7,675 - 902,412 3,873 - 758,257 4,830 - 275,454 25,041 - 3,332,970 5,717

Rendezvous



Date 2/16/2018



Rendezvous



Storm Mobilization LS 5,000.00$ 1 5,000 5,000 1 5,000 27 1 5,000 21 1 5,000 32 1 5,000 455 5 25,000 43

Storm 18" RCP LF 62.50$ - - - 453 28,291 155 147 9,166 39 254 15,897 101 233 14,573 1,325 1,087 67,928 117

Storm 24" RCP LF 80.00$ - - - 1,163 93,053 511 377 30,148 129 654 52,288 333 599 47,933 4,358 2,793 223,423 383

Storm 30" RCP LF 115.00$ - - - 286 32,947 181 93 10,674 46 161 18,513 118 148 16,972 1,543 688 79,106 136

Storm 36" RCP LF 130.00$ 177 23,039 23,039 332 43,203 237 108 13,997 60 187 24,276 155 171 22,255 2,023 975 126,771 217

Storm 42" RCP LF 170.00$ - - - 539 91,563 503 175 29,666 127 303 51,451 328 277 47,166 4,288 1,293 219,846 377

Storm 48" RCP LF 215.00$ - - - 645 138,591 761 209 44,902 193 362 77,876 496 - - - 1,216 261,370 448

Storm 54" RCP LF 265.00$ - - - 1,324 350,754 1,927 429 113,640 488 744 197,094 1,255 - - - 2,496 661,488 1,135

Storm 24" Irr. ADS Pipe - East line LF 75.00$ - - - - - - 3,651 273,826 1,175 - - - - - - 3,651 273,826 470

Storm 24" Irr. RCP Pipe - East line under R.O.W. LF 80.00$ - - - - - - 292 23,360 100 - - - - - - 292 23,360 40

Storm 36" Irr. RCP - West line under R.O.W. LF 130.00$ - - - 208 27,040 149 - - - - - - - - - 208 27,040 46

Storm 24" FES EA 2,500.00$ - - - 3 7,500 41 1 2,500 11 3 7,500 48 - - - 7 17,500 30

Storm 36" FES EA 3,000.00$ 1 3,000 3,000 3 9,000 49 1 3,000 13 3 9,000 57 - - - 8 24,000 41

Storm 42" FES EA 3,350.00$ - - - 2 6,700 37 1 3,350 14 1 3,350 21 1 3,350 305 5 16,750 29

Storm 48" FES EA 3,400.00$ - - - 2 6,800 37 - - - 2 6,800 43 - - - 4 13,600 23

Storm 54" FES EA 3,750.00$ - - - 4 15,000 82 1 3,750 16 3 11,250 72 - - - 8 30,000 51

Storm 4' DIA Irr. Manholes - East line w/ 24" pipe EA 3,000.00$ - - - - - - 9 27,000 116 - - - - - - 9 27,000 46

Storm 4' DIA Manholes EA 4,750.00$ - - - 3 14,250 78 - - - 3 14,250 91 1 4,750 432 7 33,250 57

Storm 5' DIA Manholes EA 5,750.00$ - - - 2 11,500 63 - - - 1 5,750 37 4 23,000 2,091 7 40,250 69

Storm 6' Irrigation Boxes EA 10,500.00$ - - - - - - - - - - - - - - - - - -

Storm 6' DIA Manholes EA 7,000.00$ 1 7,000 7,000 5 35,000 192 1 7,000 30 3 21,000 134 - - - 10 70,000 120

Storm 8' DIA Manholes EA 11,250.00$ - - - 11 123,750 680 1 11,250 48 7 78,750 502 4 45,000 4,091 23 258,750 444

Storm 4' x 4' Irr. Struct. - East connect. to exist. chann./outlet to South EA 5,000.00$ - - - - - - 2 10,000 43 - - - - - - 2 10,000 17

Storm 4' x 4' Irr. Struct. - West connect. to exist. chann. w/ siphon EA 5,000.00$ - - - 4 20,000 110 - - - - - - - - - 4 20,000 34

Storm 10' Type R Inlets EA 7,000.00$ - - - 22 154,000 846 13 91,000 391 23 161,000 1,025 7 49,000 4,455 65 455,000 780

Storm Type C Inlet EA 6,000.00$ - - - 5 30,000 165 - - - - - - - - - 5 30,000 51

Storm Rip Rap Placed EA 3,500.00$ 1 3,500 3,500 5 17,500 96 5 17,500 75 5 17,500 111 5 17,500 1,591 21 73,500 126

Storm 3' Trickle Channel LF 20.00$ - - - 3,317 66,342 365 2,967 59,341 255 3,460 69,191 441 215 4,295 390 9,958 199,169 342

Storm Outlet Structure EA 14,500.00$ 1 14,500 14,500 2 29,000 159 1 14,500 62 1 14,500 92 - - - 5 72,500 124

Storm Pump and Vault EA 150,000.00$ 1 150,000 150,000 - - - - - - - - - - - - 1 150,000 257

Storm Storm Subtotal LS - 206,039 206,039 - 1,356,785 7,455 - 804,571 3,453 - 862,236 5,492 - 300,794 27,345 - 3,530,426 6,056

Concrete Mobilization LS 8,500.00$ - - - 1 8,500 47 1 8,500 36 1 8,500 54 1 8,500 773 4 34,000 58

Concrete Concrete Trail 7' - 6" Depth LF 32.75$ - - - 9,095 297,849 1,637 4,183 137,008 588 4,682 153,343 977 - - - 17,960 588,200 1,009

Concrete Crusher Fines Trail 4' - 4" Depth LF 2.00$ - - - 5,018 10,036 55 3,374 6,747 29 1,459 2,917 19 - - - 9,850 19,700 34

Concrete Detached 5' Sidewalks - 6" Depth LF 23.50$ - - - 19,958 469,003 2,577 10,138 238,247 1,023 17,510 411,496 2,621 4,914 115,467 10,497 52,520 1,234,213 2,117

Concrete Curb and Gutter LF 18.00$ - - - 23,944 430,988 2,368 16,778 302,006 1,296 22,607 406,928 2,592 11,886 213,951 19,450 75,215 1,353,872 2,322

Concrete HC Ramp Single EA 1,700.00$ - - - 47 79,900 439 10 17,000 73 20 34,000 217 25 42,500 3,864 102 173,400 297

Concrete HC Ramp Midblock EA 1,850.00$ - - - 13 24,050 132 8 14,800 64 16 29,600 189 5 9,250 841 42 77,700 133

Concrete Alley Entrance Crosspan EA 2,500.00$ - - - 8 20,000 110 24 60,000 258 10 25,000 159 15 37,500 3,409 57 142,500 244

Concrete Concrete Crosspan EA 3,500.00$ - - - 10 35,000 192 5 17,500 75 8 28,000 178 4 14,000 1,273 27 94,500 162

Concrete Concrete Subtotal LS - - - - 1,375,326 7,557 - 801,808 3,441 - 1,099,783 7,005 - 441,168 40,106 - 3,718,085 6,378

Asphalt Mobilization LS 5,500.00$ - - - 1 5,500 30 1 5,500 24 1 5,500 35 1 5,500 500 4 22,000 38

Asphalt Alleys - 6" ABC (Pending Pavement Design) SY 7.75$ - - - 7,678 59,507 327 18,806 145,748 626 5,743 44,511 284 - - - 32,228 249,767 428

Asphalt Alleys - 4" HMA (Pending Pavement Design) SY 20.75$ - - - 7,678 159,326 875 18,806 390,229 1,675 5,743 119,176 759 - - - 32,228 668,731 1,147

Asphalt Locals - 7" ABC (Pending Pavement Design) SY 9.50$ - - - 18,448 175,256 963 24,079 228,753 982 15,911 151,156 963 6,875 65,308 5,937 65,313 620,473 1,064

Asphalt Locals - 5" HMA (Pending Pavement Design) SY 25.00$ - - - 18,448 461,201 2,534 24,079 601,982 2,584 15,911 397,778 2,534 6,875 171,863 15,624 65,313 1,632,825 2,801

Asphalt Collectors - 8" ABC (Pending Pavement Design) SY 10.75$ - - - 17,411 187,166 1,028 - - - 15,137 162,724 1,036 - - - 32,548 349,890 600

Asphalt Collectors - 6" HMA (Pending Pavement Design) SY 28.50$ - - - 17,411 496,208 2,726 - - - 15,137 431,409 2,748 - - - 32,548 927,616 1,591

Asphalt Striping LS 22,000.00$ - - - 1 22,000 121 1 22,000 94 1 22,000 140 1 22,000 2,000 4 88,000 151

Asphalt Traffic Control LS 11,000.00$ - - - 1 11,000 60 1 11,000 47 1 11,000 70 1 11,000 1,000 4 44,000 75

Asphalt Adjust Manholes to Grade EA 575.00$ 1 575 575 77 44,275 243 45 25,875 111 41 23,575 150 16 9,200 836 180 103,500 178

Asphalt Adjust Valve Boxes to Grade EA 350.00$ - - - 72 25,200 138 60 21,000 90 29 10,150 65 24 8,400 764 185 64,750 111

Asphalt Asphalt Subtotal LS - 575 575 - 1,646,639 9,047 - 1,452,088 6,232 - 1,378,979 8,783 - 293,272 26,661 - 4,771,552 8,184

Date 2/16/2018



Rendezvous



Erosion Erosion Control Mobilization LS 5,000.00$ 1 5,000 5,000 1 5,000 27 1 5,000 21 1 5,000 32 1 5,000 455 5 25,000 43

Erosion Erosion Control BMPs LS 42,000.00$ 1 42,000 42,000 1 42,000 231 1 42,000 180 1 42,000 268 1 42,000 3,818 5 210,000 360

Erosion SWMP Inspections and Permits LS 5,000.00$ 1 5,000 5,000 1 5,000 27 1 5,000 21 1 5,000 32 1 5,000 455 5 25,000 43

Erosion Erosion Control Maintenance LS 16,000.00$ 1 16,000 16,000 1 16,000 88 1 16,000 69 1 16,000 102 1 16,000 1,455 5 80,000 137

Erosion Erosion Control, Maint. Subtotal LS - 68,000 68,000 - 68,000 374 - 68,000 292 - 68,000 433 - 68,000 6,182 - 340,000 583

Landscaping Fencing LF 20.00$ - - - 5,967 119,335 656 6,233 124,654 535 6,155 123,103 784 156 3,120 284 18,511 370,212 635

Landscaping Landscape LS -$ 1 250,000 250,000 1 2,400,000 13,187 1 2,400,000 10,300 1 2,400,000 15,287 1 750,000 68,182 5 8,200,000 14,065

Landscaping Pool LS -$ - - - - - - 1 1,500,000 9,554 - - - 1 1,500,000 2,573

Landscaping Landscaping and Fence Subtotal LS - 250,000 250,000 - 2,519,335 13,842 - 2,524,654 10,835 - 4,023,103 25,625 - 753,120 68,465 - 10,070,212 17,273

Dry Utilities Light Pole Assembly and Light EA 3,000.00$ - - - 43 129,000 709 43 129,000 554 30 90,000 573 10 30,000 2,727 126 378,000 648

Dry Utilities Subtotal Dry Utilities LS - - - - 129,000 709 - 129,000 554 - 90,000 573 - 30,000 2,727 - 378,000 648

Signage Street Signs EA 525.00$ - - 30 15,750 36 18,900 81 27 14,175 90 10 5,250 477 103 54,075 93

Survey Surveying and As-Builts EA 100,000.00$ 1 100,000 100,000 1 100,000 549 1 100,000 429 1 100,000 637 1 100,000 9,091 5 500,000 858

Misc. AT&T Fiber Line LS 150,000.00$ - - - 1 150,000 824 - - - - - - - - - 1 150,000 257

Civil Civil Engineering LS 194,167.00$ - - - 1 194,167 1,067 1 194,167 833 1 194,167 1,237 1 194,167 17,652 4 776,668 1,332

Planning Planning LS 70,000.00$ 1 70,000 70,000 1 70,000 385 1 70,000 300 1 70,000 446 1 70,000 6,364 5 350,000 600

Misc. Project Management % 5.00% 726,039 36,302 36,302 10,749,011 537,451 2,953 7,979,231 398,962 1,712 9,496,514 474,826 3,024 2,687,071 134,354 12,214 31,637,866 1,581,893 2,713

Contingency Contingency % 20.00% 762,341 152,468 152,468 11,286,461 2,257,292 12,403 8,378,192 1,675,638 7,192 9,971,339 1,994,268 12,702 2,821,425 564,285 51,299 33,219,759 6,643,952 11,396

Misc. Miscellaneous Subtotal LS - 358,770 358,770 - 3,324,660 18,267 - 2,457,667 10,548 - 2,847,436 18,137 - 1,068,056 97,096 - 10,056,588 17,250

Total Development Costs 914,809 914,809 13,543,754 74,416 10,053,830 43,149 11,965,607 76,214 3,385,710 307,792 - 39,863,711 68,377

EXHIBIT F

Public Improvements Concept Plan

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RENDEZVOUS METRO DISTRICT MAP-PARKS AND OPEN SPACE02.16.2018HARTFORD HOMES, LLC

SCALE : 1" = 200'-0"

OPEN SPACE

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RENDEZVOUS METRO DISTRICT MAP-FENCING02.16.2018HARTFORD HOMES, LLC

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RENDEZVOUS METRO DISTRICT MAP-TRAILS02.16.2018HARTFORD HOMES, LLC

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VOUSPA

RKWAY

RENDEZ

VOUSPA

RKWAY

DDRIV

E

WBO

ULE

VAR

D

F AVENUE

A STREET

LAV

ENU

E

THREE BELL PARKWAY

A STREET

GREATW

ESTE

RNRAI

LROAD

GREATW

ESTE

RNRAI

LROAD

FAV

ENU

E

T STREET

LAV

ENUE

MBOULEVARD

D DRIVE

A STREET

WAV

ENU

E

RENDEZ

VOUSPA

RKWAY

RENDEZVOUS PARKWAY

IAVE

NU

E

FAV

ENU

E

DDRIV

E

THREE BELL PARKWAY

VST

REE

T

HAR

MO

NY

RO

AD


DISTRICTNO. 4

DISTRICTNO. 3

DISTRICTNO. 2

DISTRICTNO. 1




DISTRICTNO. 5

0' 200' 400' 1000'

RENDEZVOUS METRO DISTRICT MAP-STREET PLAN02.16.2018HARTFORD HOMES, LLC

SCALE : 1" = 200'-0"

STREETS

DISTRICTNO. 4

DISTRICTNO. 2

DISTRICTNO. 1

8''W

8''W

8''W

8''W

8''W

8 ''W

8''W

8''W

8''W 8''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W 8''W

8''W 8''W

8''W 8''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W 8''W

8''W

8''W

8''W

8''W

8''W 8''W 8''W

8''W 8''W 8''W 8''W

8''W

12''W

12''W

12''W 12''W 12''W 12''W

8''W

12''W 12''W

12' 'W

12''W

12''W

8''W 8''W 8''W8''W 8''W

12''W

12''W

12''W

12''W

12''W

12''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W

12''W

12''W

12''W

12''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W

12''W

8''W

8''W

8''W

8''W

8''W

8''W

8''W

DISTRICTNO. 3

PBO

ULE

VAR

D

R STREET

U STREET

VST

REE

T

TIMNAT

HTR

AILW

AY

TIM

NAT

HTR

AIL

WAY

STO

NE

FLY

DR

IVE

A STREET

BAV

ENUE

CDRIV

E

DDRIV

E

RENDEZ

VOUSPA

RKWAY

FAV

ENU

EH DRIVE

IAVE

NU

E

J LOOP

K STREET

LAV

ENU

EL

AVEN

UEMBOULEVARD

M BOULEVARD

NCOURT

D DRIVE

O DRIVE

O DRIVE

RENDEZVOUS PARKWAY

SAV

ENU

E

T STREET

WAV

ENU

E

FAV

ENU

E

RENDEZ

VOUSPA

RKWAY

RENDEZVOUS PARKWAY

RENDEZ

VOUSPA

RKWAY

DDRIV

E

DDRIV

E

WBO

ULE

VAR

D

F AVENUE

A STREET A STREET

MBOULEVARD

IAVE

NU

E

LAV

ENU

E

THREE BELL PARKWAY

HAR

MO

NY

RO

AD

THREE BELL PARKWAY

A STREET

GREATW

ESTE

RNRAI

LROAD

GREATW

ESTE

RNRAI

LROAD

8''W

8''W

8''W

8''W

8''W

8''W8''W

8''W

8''W

8''W

8''W

8''W8''W

8''W8''W

8''W





DISTRICTNO. 5

0' 200' 400' 1000'

RENDEZVOUS METRO DISTRICT MAP-WATER02.16.2018HARTFORD HOMES, LLC

SCALE : 1" = 200'-0"

8" WATER LINE8''W

12''W 12" WATER LINE

DISTRICTNO. 4

DISTRICTNO. 2

DISTRICTNO. 1

8''SS 8''SS

12''S

S12

''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS8''SS

12''SS

8''SS

8''SS

12''SS12''SS

8''SS 8''SS

8''SS

8''SS 8''SS8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS 8''SS 8''SS

12''S

S12

''SS

12''S

S

8''SS 8''SS

8''SS 8''SS8''SS 8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

12''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS 8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

8''SS

12''SS

8''SS

8''SS

8''SS

8''SS 8''SS

8''SS

8''SS

8''SS

8''SS

8''SS 8''SS 8''SS

12''SS

8''SS

DISTRICTNO. 3

PBO

ULE

VAR

D

R STREET

U STREET

VST

REE

T

TIMNAT

HTR

AILW

AY

TIM

NAT

HTR

AIL

WAY

STO

NE

FLY

DR

IVE

A STREET

BAV

ENUE

CDRIV

E

DDRIV

E

RENDEZ

VOUSPA

RKWAY

FAV

ENU

EH DRIVE

IAVE

NU

E

J LOOP

K STREET

LAV

ENU

EL

AVEN

UEMBOULEVARD

M BOULEVARD

NCOURT

D DRIVE

O DRIVE

O DRIVE

RENDEZVOUS PARKWAY

SAV

ENU

E

T STREET

WAV

ENU

E

FAV

ENU

E

RENDEZ

VOUSPA

RKWAY

RENDEZVOUS PARKWAY

RENDEZ

VOUSPA

RKWAY

DDRIV

E

DDRIV

E

WBO

ULE

VAR

D

F AVENUE

A STREET A STREET

MBOULEVARD

IAVE

NU

E

LAV

ENU

E

THREE BELL PARKWAY

HAR

MO

NY

RO

AD

THREE BELL PARKWAY

A STREET

GREATW

ESTE

RNRAI

LROAD

GREATW

ESTE

RNRAI

LROAD

8''SS

8''SS

8''SS

8''SS

8''SS8''SS

8''SS





DISTRICTNO. 5

0' 200' 400' 1000'

RENDEZVOUS02.16.2018HARTFORD HOMES, LLC

SCALE : 1" = 200'-0"

METRO DISTRICT MAP-SANITARY SEWER

8" SANITARY SEWER LINE8''SS

12''SS 12" SANITARY SEWER LINE

DISTRICTNO. 4

DISTRICTNO. 2

DISTRICTNO. 1

DISTRICTNO. 3

PBO

ULE

VAR

D

R STREET

U STREET

VST

REE

T

TIMNAT

HTR

AILW

AY

TIM

NAT

HTR

AIL

WAY

STO

NE

FLY

DR

IVE

A STREET

BAV

ENUE

CDRIV

E

DDRIV

E

RENDEZ

VOUSPA

RKWAY

FAV

ENU

EH DRIVE

IAVE

NU

E

J LOOP

K STREET

LAV

ENU

EL

AVEN

UEMBOULEVARD

M BOULEVARD

NCOURT

D DRIVE

O DRIVE

O DRIVE

RENDEZVOUS PARKWAY

SAV

ENU

E

T STREET

WAV

ENU

E

FAV

ENU

E

RENDEZ

VOUSPA

RKWAY

RENDEZVOUS PARKWAY

RENDEZ

VOUSPA

RKWAY

DDRIV

E

DDRIV

E

WBO

ULE

VAR

D

F AVENUE

A STREET A STREET

MBOULEVARD

IAVE

NU

E

LAV

ENU

E

THREE BELL PARKWAY

HAR

MO

NY

RO

AD

THREE BELL PARKWAY

A STREET

GREATW

ESTE

RNRAI

LROAD

GREATW

ESTE

RNRAI

LROAD





DISTRICTNO. 5

0' 200' 400' 1000'

RENDEZVOUS02.16.2018HARTFORD HOMES, LLC

SCALE : 1" = 200'-0"

METRO DISTRICT MAP-STORM DRAIN

STORM DRAIN

EXHIBIT G

Affidavit Regarding Overlapping Consent

AFFIDAVIT REGARDING OVERLAPPING CONSENT

I, ____________________________, the proponent of the Service Plan for Rendezvous Metropolitan District Nos. 1-5 state as follows:

1. I am over the age of eighteen (18) and am of sound mind.

2. The Rendezvous Metropolitan District Nos. 1-5 will overlap one or more special or metropolitan districts; specifically, the Fort Collins-Loveland Water District.

3. The improvements or facilities to be financed, established, or operated by the overlapping special district for the provision of the same service as the existing special or metropolitan district do not duplicate or interfere with any other improvements or facilities already constructed or planned to be constructed within the portion of the existing special or metropolitan district that the overlapping special district overlaps or will overlap.

4. The board of directors of any special district or metropolitan district authorized to provide a service within the boundaries of the overlapping area has consented to the overlapping special district providing the same service.

FURTHER AFFIANT SAYETH NAUGHT.

__________________________________ [Name]

STATE OF COLORADO ) )ss. COUNTY OF __________ ) Affidavit subscribed and sworn to me this ____ day of _____________, 2018, by _____________. Witness my hand and official seal. My commission expires: ____________ ___________________________________

Notary Public

EXHIBIT H

Financial Plan

RENDEZVOUS METROPOLITAN DISTRICT (Residential & Commercial)

1 Development Projection at 38.695 (target) Residential Mills +15.000 (target) Commercial Mills for Debt Service (SERVICE PLAN) -- 02/02/2018

2050 Series 2022, G.O. Bonds, Assumes Investement Grade, 120x, 30-yr. Maturity; plus Series 2022B Cash-Flow Subs.

2049

Total District District District Total District District District

Assessed D/S Mill Levy D/S Mill Levy S.O. Taxes Assessed D/S Mill Levy D/S Mill Levy S.O. Taxes TotalValue [38.695 Target] Collections Collected Value [15.000 Target] Collections Collected Available

YEAR (Residential) [38.695 Cap] @ 98% @ 6% (Commercial) [15.000 Cap] @ 98% @ 6% Revenue

2017

2018 $0

2019 $0 38.695 0 0 $0 15.000 0 0 0

2020 1,042,550 38.695 39,535 2,372 0 15.000 0 0 41,907

2021 3,992,293 38.695 151,392 9,084 0 15.000 0 0 160,476

2022 8,928,751 38.695 338,588 20,315 0 15.000 0 0 358,903

2023 15,367,565 38.695 582,755 34,965 377,000 15.000 5,542 333 623,595

2024 20,283,531 38.695 769,174 46,150 4,457,769 15.000 65,529 3,932 884,785

2025 21,210,093 38.695 804,310 48,259 8,243,154 15.000 121,174 7,270 981,013

2026 22,482,698 38.695 852,569 51,154 8,737,743 15.000 128,445 7,707 1,039,874

2027 22,482,698 38.695 852,569 51,154 8,737,743 15.000 128,445 7,707 1,039,874

2028 23,831,660 38.695 903,723 54,223 9,262,008 15.000 136,152 8,169 1,102,267

2029 23,831,660 38.695 903,723 54,223 9,262,008 15.000 136,152 8,169 1,102,267

2030 25,261,560 38.695 957,946 57,477 9,817,728 15.000 144,321 8,659 1,168,403

2031 25,261,560 38.695 957,946 57,477 9,817,728 15.000 144,321 8,659 1,168,403

2032 26,777,253 38.695 1,015,423 60,925 10,406,792 15.000 152,980 9,179 1,238,507

2033 26,777,253 38.695 1,015,423 60,925 10,406,792 15.000 152,980 9,179 1,238,507

2034 28,383,888 38.695 1,076,348 64,581 11,031,199 15.000 162,159 9,730 1,312,817

2035 28,383,888 38.695 1,076,348 64,581 11,031,199 15.000 162,159 9,730 1,312,817

2036 30,086,922 38.695 1,140,929 68,456 11,693,071 15.000 171,888 10,313 1,391,586

2037 30,086,922 38.695 1,140,929 68,456 11,693,071 15.000 171,888 10,313 1,391,586

2038 31,892,137 38.695 1,209,385 72,563 12,394,656 15.000 182,201 10,932 1,475,082

2039 31,892,137 38.695 1,209,385 72,563 12,394,656 15.000 182,201 10,932 1,475,082

2040 33,805,665 38.695 1,281,948 76,917 13,138,335 15.000 193,134 11,588 1,563,586

2041 33,805,665 38.695 1,281,948 76,917 13,138,335 15.000 193,134 11,588 1,563,586

2042 35,834,005 38.695 1,358,865 81,532 13,926,635 15.000 204,722 12,283 1,657,402

2043 35,834,005 38.695 1,358,865 81,532 13,926,635 15.000 204,722 12,283 1,657,402

2044 37,984,045 38.695 1,440,397 86,424 14,762,233 15.000 217,005 13,020 1,756,846

2045 37,984,045 38.695 1,440,397 86,424 14,762,233 15.000 217,005 13,020 1,756,846

2046 40,263,088 38.695 1,526,821 91,609 15,647,967 15.000 230,025 13,802 1,862,256

2047 40,263,088 38.695 1,526,821 91,609 15,647,967 15.000 230,025 13,802 1,862,256

2048 42,678,873 38.695 1,618,430 97,106 16,586,845 15.000 243,827 14,630 1,973,992

2049 42,678,873 38.695 1,618,430 97,106 16,586,845 15.000 243,827 14,630 1,973,992

2050 45,239,606 38.695 1,715,536 102,932 17,582,056 15.000 258,456 15,507 2,092,431

2051 45,239,606 38.695 1,715,536 102,932 17,582,056 15.000 258,456 15,507 2,092,431

2052 47,953,982 38.695 1,818,468 109,108 18,636,979 15.000 273,964 16,438 2,217,977

__________ __________ __________ __________ __________

36,700,858 2,202,052 5,316,835 319,010 44,538,755

2/2/2018 A RMD (R+C) Fin Plan 18 R+C IG LB Fin Plan SP2Prepared by D.A.Davidson & Co.

Draft: For discussion purposes only.

1

1

20502049

YEAR

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

2033

2034

2035

2036

2037

2038

2039

2040

2041

2042

2043

2044

2045

2046

2047

2048

2049

2050

2051

2052


Development Projection at 38.695 (target) Residential Mills +15.000 (target) Commercial Mills for Debt Service (SERVICE PLAN) -- 02/02/2018

Series 2022, G.O. Bonds, Assumes Investement Grade, 120x, 30-yr. Maturity; plus Series 2022B Cash-Flow Subs.

Ser. 2022$13,765,000 Par Surplus Cov. of Net DS: Cov. of Net DS:

[Net $13.214 MM] Annual Release @ Cumulative Debt/ @ Res'l Target @ Res'l CapNet Available Net Debt Surplus 50% D/A Surplus Assessed @ Comm'l Target @ Comm'l Capfor Debt Svc Service to $1,376,500 $1,376,500 Target Ratio & Sales PIF Revs & Sales PIF Revs

$0 n/a 0

0 n/a 0 0% 0% 0%

41,907 n/a 0 1678% 0% 0%

160,476 n/a 0 750% 0% 0%

358,903 $0 358,903 358,903 90% 0% 0%

623,595 412,950 210,645 0 569,548 68% 151% 151%

884,785 735,600 149,185 0 718,733 64% 120% 120%

981,013 813,200 167,813 0 886,547 59% 121% 121%

1,039,874 817,400 222,474 0 1,109,021 58% 127% 127%

1,039,874 816,000 223,874 0 1,332,895 53% 127% 127%

1,102,267 814,200 288,067 244,462 1,376,500 52% 135% 135%

1,102,267 817,000 285,267 285,267 1,376,500 48% 135% 135%

1,168,403 814,200 354,203 354,203 1,376,500 47% 144% 144%

1,168,403 816,000 352,403 352,403 1,376,500 43% 143% 143%

1,238,507 817,200 421,307 421,307 1,376,500 41% 152% 152%

1,238,507 812,800 425,707 425,707 1,376,500 38% 152% 152%

1,312,817 813,000 499,817 499,817 1,376,500 36% 162% 162%

1,312,817 812,600 500,217 500,217 1,376,500 33% 162% 162%

1,391,586 816,600 574,986 574,986 1,376,500 32% 170% 170%

1,391,586 814,800 576,786 576,786 1,376,500 28% 171% 171%

1,475,082 812,400 662,682 662,682 1,376,500 27% 182% 182%

1,475,082 814,400 660,682 660,682 1,376,500 24% 181% 181%

1,563,586 815,600 747,986 747,986 1,376,500 23% 192% 192%

1,563,586 816,000 747,586 747,586 1,376,500 20% 192% 192%

1,657,402 815,600 841,802 841,802 1,376,500 18% 203% 203%

1,657,402 814,400 843,002 843,002 1,376,500 16% 204% 204%

1,756,846 812,400 944,446 944,446 1,376,500 14% 216% 216%

1,756,846 814,600 942,246 942,246 1,376,500 12% 216% 216%

1,862,256 815,800 1,046,456 1,046,456 1,376,500 11% 228% 228%

1,862,256 816,000 1,046,256 1,046,256 1,376,500 9% 228% 228%

1,973,992 815,200 1,158,792 1,158,792 1,376,500 7% 242% 242%

1,973,992 813,400 1,160,592 1,160,592 1,376,500 5% 243% 243%

2,092,431 815,600 1,276,831 1,276,831 1,376,500 3% 257% 257%

2,092,431 816,600 1,275,831 1,275,831 1,376,500 2% 256% 256%

2,217,977 816,400 1,401,577 2,778,077 0 0% 272% 272%

_________ _________ _________ _________

44,538,755 23,967,950 20,368,422 20,368,422

[AFeb0218 22nrspA2]



2

1

20502049

YEAR

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

2033

2034

2035

2036

2037

2038

2039

2040

2041

2042

2043

2044

2045

2046

2047

2048

2049

2050

2051

2052


Development Projection at 38.695 (target) Residential Mills +15.000 (target) Commercial Mills for Debt Service (SERVICE PLAN) -- 02/02/2018

Series 2022, G.O. Bonds, Assumes Investement Grade, 120x, 30-yr. Maturity; plus Series 2022B Cash-Flow Subs.

Cash-Flow Subs. > > >

Surplus Total Sub Less Payments Accrued

Available for Application Date Available for Bond Interest Toward Interest Less Payments Balance of Sub Bonds Less Payments Balance of Total Surplus Surplus Cum. SurplusSub of Prior Year Bonds Sub on Balance Sub Bond + Int. on Bal. @ Toward Accrued Accrued Principal Toward Bond Sub Sub. Debt Cash Flow Release

Debt Service Surplus Issued Debt Service 7.00% Interest 7.00% Interest Interest Issued Principal Bond Principal Pmts.

$0 12/1/22 $0 $14,196 $0 $14,196 $0 $14,196 $5,215,000 $0 $5,215,000 $0 $0 $0

0 0 0 365,050 0 366,044 0 380,240 0 5,215,000 0 0 0 0

0 0 0 365,050 0 391,667 0 771,907 0 5,215,000 0 0 0 0

0 0 0 365,050 0 419,083 0 1,190,990 0 5,215,000 0 0 0 0

0 0 0 365,050 0 448,419 0 1,639,410 0 5,215,000 0 0 0 0

0 0 0 365,050 0 479,809 0 2,119,218 0 5,215,000 0 0 0 0

244,462 0 244,462 365,050 244,462 268,933 0 2,388,152 0 5,215,000 244,462 0 0 0

285,267 0 285,267 365,050 285,267 246,954 0 2,635,106 0 5,215,000 285,267 0 0 0

354,203 0 354,203 365,050 354,203 195,305 0 2,830,410 0 5,215,000 354,203 0 0 0

352,403 0 352,403 365,050 352,403 210,776 0 3,041,186 0 5,215,000 352,403 0 0 0

421,307 0 421,307 365,050 365,050 212,883 56,257 3,197,812 0 5,215,000 421,307 0 0 0

425,707 0 425,707 365,050 365,050 223,847 60,657 3,361,002 0 5,215,000 425,707 0 0 0

499,817 0 499,817 365,050 365,050 235,270 134,767 3,461,505 0 5,215,000 499,817 0 0 0

500,217 0 500,217 365,050 365,050 242,305 135,167 3,568,643 0 5,215,000 500,217 0 0 0

574,986 0 574,986 365,050 365,050 249,805 209,936 3,608,512 0 5,215,000 574,986 0 0 0

576,786 0 576,786 365,050 365,050 252,596 211,736 3,649,371 0 5,215,000 576,786 0 0 0

662,682 0 662,682 365,050 365,050 255,456 297,632 3,607,196 0 5,215,000 662,682 0 0 0

660,682 0 660,682 365,050 365,050 252,504 295,632 3,564,068 0 5,215,000 660,682 0 0 0

747,986 0 747,986 365,050 365,050 249,485 382,936 3,430,616 0 5,215,000 747,986 0 0 0

747,586 0 747,586 365,050 365,050 240,143 382,536 3,288,223 0 5,215,000 747,586 0 0 0

841,802 0 841,802 365,050 365,050 230,176 476,752 3,041,647 0 5,215,000 841,802 0 0 0

843,002 0 843,002 365,050 365,050 212,915 477,952 2,776,611 0 5,215,000 843,002 0 0 0

944,446 0 944,446 365,050 365,050 194,363 579,396 2,391,578 0 5,215,000 944,446 0 0 0

942,246 0 942,246 365,050 365,050 167,410 577,196 1,981,793 0 5,215,000 942,246 0 0 0

1,046,456 0 1,046,456 365,050 365,050 138,725 681,406 1,439,112 0 5,215,000 1,046,456 0 0 0

1,046,256 0 1,046,256 365,050 365,050 100,738 681,206 858,643 0 5,215,000 1,046,256 0 0 0

1,158,792 0 1,158,792 365,050 365,050 60,105 793,742 125,006 0 5,215,000 1,158,792 0 0 0

1,160,592 0 1,160,592 365,050 365,050 8,750 133,757 0 661,000 4,554,000 1,159,807 785 0 785

1,276,831 785 1,277,616 318,780 318,780 0 0 0 958,000 3,596,000 1,276,780 51 0 836

1,275,831 836 1,276,668 251,720 251,720 0 0 0 1,024,000 2,572,000 1,275,720 111 0 948

2,778,077 0 2,778,077 180,040 180,040 0 0 0 2,572,000 0 2,752,040 26,037 26,985 0

_________ _________ _________ _________ _________ _________ _________ __ _________ _________ _________ _________

20,368,422 1,621 20,370,044 10,621,086 8,557,774 6,568,663 6,568,663 5,215,000 5,215,000 20,341,437 26,985 26,985



3

1

20502049

YEAR

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

2033

2034

2035

2036

2037

2038

2039

2040

2041

2042

2043

2044

2045

2046

2047

2048

2049

2050

2051

2052


Operations Revenue and Expense Projection -- 02/02/2018

Total Total

Assessed Total Specific Assessed Total Specific Total Value Oper'ns Collections Ownership Tax Value Oper'ns Collections Ownership Tax Available

(Residential) Mill Levy @ 98% @ 6% (Commercial) Mill Levy @ 98% @ 6% For O&M

$0 11.055 0 0 $0 3.000 0 0 $0

1,042,550 11.055 11,295 678 0 3.000 0 0 11,973

3,992,293 11.055 43,252 2,595 0 3.000 0 0 45,847

8,928,751 11.055 96,733 5,804 0 3.000 0 0 102,537

15,367,565 11.055 166,491 9,989 377,000 3.000 1,108 67 177,655

20,283,531 11.055 219,750 13,185 4,457,769 3.000 13,106 786 246,827

21,210,093 11.055 229,788 13,787 8,243,154 3.000 24,235 1,454 269,264

22,482,698 11.055 243,575 14,615 8,737,743 3.000 25,689 1,541 285,420

22,482,698 11.055 243,575 14,615 8,737,743 3.000 25,689 1,541 285,420

23,831,660 11.055 258,190 15,491 9,262,008 3.000 27,230 1,634 302,545

23,831,660 11.055 258,190 15,491 9,262,008 3.000 27,230 1,634 302,545

25,261,560 11.055 273,681 16,421 9,817,728 3.000 28,864 1,732 320,698

25,261,560 11.055 273,681 16,421 9,817,728 3.000 28,864 1,732 320,698

26,777,253 11.055 290,102 17,406 10,406,792 3.000 30,596 1,836 339,940

26,777,253 11.055 290,102 17,406 10,406,792 3.000 30,596 1,836 339,940

28,383,888 11.055 307,508 18,450 11,031,199 3.000 32,432 1,946 360,336

28,383,888 11.055 307,508 18,450 11,031,199 3.000 32,432 1,946 360,336

30,086,922 11.055 325,959 19,558 11,693,071 3.000 34,378 2,063 381,957

30,086,922 11.055 325,959 19,558 11,693,071 3.000 34,378 2,063 381,957

31,892,137 11.055 345,516 20,731 12,394,656 3.000 36,440 2,186 404,874

31,892,137 11.055 345,516 20,731 12,394,656 3.000 36,440 2,186 404,874

33,805,665 11.055 366,247 21,975 13,138,335 3.000 38,627 2,318 429,166

33,805,665 11.055 366,247 21,975 13,138,335 3.000 38,627 2,318 429,166

35,834,005 11.055 388,222 23,293 13,926,635 3.000 40,944 2,457 454,916

35,834,005 11.055 388,222 23,293 13,926,635 3.000 40,944 2,457 454,916

37,984,045 11.055 411,515 24,691 14,762,233 3.000 43,401 2,604 482,211

37,984,045 11.055 411,515 24,691 14,762,233 3.000 43,401 2,604 482,211

40,263,088 11.055 436,206 26,172 15,647,967 3.000 46,005 2,760 511,144

40,263,088 11.055 436,206 26,172 15,647,967 3.000 46,005 2,760 511,144

42,678,873 11.055 462,379 27,743 16,586,845 3.000 48,765 2,926 541,813

42,678,873 11.055 462,379 27,743 16,586,845 3.000 48,765 2,926 541,813

45,239,606 11.055 490,121 29,407 17,582,056 3.000 51,691 3,101 574,321

45,239,606 11.055 490,121 29,407 17,582,056 3.000 51,691 3,101 574,321

47,953,982 11.055 519,529 31,172 18,636,979 3.000 54,793 3,288 608,781

_______ ________ _______ ________ _______

10,485,282 629,117 1,063,367 63,802 12,241,568



4

RENDEZVOUS METROPOLITAN DISTRICT (Residential)

1 Development Projection at 50.000 (target) District Mills for Debt Service -- 02/02/2018

2050 Assessed Value Summary

2049

< < < < < < < < Residential > > > > > > > > < Platted/Developed Lots > < < < < < < < < < < Commercial > > > > > > > > > >Mkt Value As'ed Value As'ed Value Mkt Value As'ed Value

Biennial @ 7.20% @ 29.00% Biennial @ 29.00% TotalTotal Reasses'mt Cumulative of Market Cumulative of Market Total Comm'l Reasses'mt Cumulative of Market Assessed

YEAR Res'l Units @ 6.0% Market Value (2-yr lag) Market Value (2-yr lag) Sq. Ft. @ 6.0% Market Value (2-yr lag) Value

2017 0 0 0 0 0

2018 0 0 0 3,595,000 0 0 0

2019 85 36,669,000 0 4,662,500 0 0 0 0 $0

2020 111 2,200,140 87,377,790 0 9,095,000 1,042,550 0 0 0 0 1,042,550

2021 324 183,894,658 2,640,168 7,335,000 1,352,125 0 0 0 3,992,293

2022 177 11,033,679 274,324,736 6,291,201 1,835,000 2,637,550 0 0 0 0 8,928,751

2023 40 294,584,619 13,240,415 0 2,127,150 0 0 0 15,367,565

2024 0 17,675,077 312,259,696 19,751,381 0 532,150 0 0 0 0 20,283,531

2025 0 312,259,696 21,210,093 0 0 0 0 0 21,210,093

2026 0 18,735,582 330,995,278 22,482,698 0 0 0 0 0 0 22,482,698

2027 0 330,995,278 22,482,698 0 0 0 0 0 22,482,698

2028 0 19,859,717 350,854,994 23,831,660 0 0 0 0 0 0 23,831,660

2029 0 350,854,994 23,831,660 0 0 0 0 0 23,831,660

2030 0 21,051,300 371,906,294 25,261,560 0 0 0 0 0 0 25,261,560

2031 0 371,906,294 25,261,560 0 0 0 0 0 25,261,560

2032 0 22,314,378 394,220,672 26,777,253 0 0 0 0 0 0 26,777,253

2033 0 394,220,672 26,777,253 0 0 0 0 0 26,777,253

2034 0 23,653,240 417,873,912 28,383,888 0 0 0 0 0 0 28,383,888

2035 0 417,873,912 28,383,888 0 0 0 0 0 28,383,888

2036 0 25,072,435 442,946,347 30,086,922 0 0 0 0 0 0 30,086,922

2037 0 442,946,347 30,086,922 0 0 0 0 0 30,086,922

2038 26,576,781 469,523,127 31,892,137 0 0 0 0 0 31,892,137

2039 469,523,127 31,892,137 0 0 0 0 31,892,137

2040 28,171,388 497,694,515 33,805,665 0 0 0 0 0 33,805,665

2041 497,694,515 33,805,665 0 0 0 0 33,805,665

2042 29,861,671 527,556,186 35,834,005 0 0 0 0 0 35,834,005

2043 527,556,186 35,834,005 0 0 0 0 35,834,005

2044 31,653,371 559,209,557 37,984,045 0 0 0 0 0 37,984,045

2045 559,209,557 37,984,045 0 0 0 0 37,984,045

2046 33,552,573 592,762,130 40,263,088 0 0 0 0 0 40,263,088

2047 592,762,130 40,263,088 0 0 0 0 40,263,088

2048 35,565,728 628,327,858 42,678,873 0 0 0 0 0 42,678,873

2049 628,327,858 42,678,873 0 0 0 0 42,678,873

2050 37,699,671 666,027,530 45,239,606 0 0 0 0 0 45,239,606

2051 666,027,530 45,239,606 0 0 0 0 45,239,606

2052 39,961,652 705,989,182 47,953,982 0 0 0 0 0 47,953,982

2053 705,989,182 47,953,982 0 0 0 0 47,953,982

2054 42,359,351 748,348,532 50,831,221 0 0 0 0 0 50,831,221

2055 748,348,532 50,831,221 0 0 0 0 50,831,221

2056 44,900,912 793,249,444 53,881,094 0 0 0 0 0 53,881,094

2057 793,249,444 53,881,094 0 0 0 0 53,881,094

2058 47,594,967 840,844,411 57,113,960 0 0 0 0 0 57,113,960

______ __________ __________ __________

737 559,493,612 0 0

2/2/2018 A RMD (R+C) Fin Plan 18 R AV SummaryPrepared by D.A.Davidson & Co.


5

RENDEZVOUS METROPOLITAN DISTRICT (Commercial)

1 Development Projection at 50.000 (target) District Mills for Debt Service -- 02/02/2018

2050 Assessed Value Summary2049

< < < < < < < < Residential > > > > > > > > < Platted/Developed Lots > < < < < < < < < < < Commercial > > > > > > > > > >Mkt Value As'ed Value As'ed Value Mkt Value As'ed ValueBiennial @ 7.20% @ 29.00% Biennial @ 29.00% Total

Total Reasses'mt Cumulative of Market Cumulative of Market Total Comm'l Reasses'mt Cumulative of Market AssessedYEAR Res'l Units @ 6.0% Market Value (2-yr lag) Market Value (2-yr lag) Sq. Ft. @ 6.0% Market Value (2-yr lag) Value

2017 0 0 0 0 0

2018 0 0 0 0 0 0 0

2019 0 0 0 0 0 0 0 0 $0

2020 0 0 0 0 0 0 0 0 0 0 0

2021 0 0 0 1,300,000 0 0 0 0 0

2022 0 0 0 0 1,300,000 0 65,000 0 14,071,618 0 0

2023 0 0 0 0 377,000 65,000 28,424,669 0 377,000

2024 0 0 0 0 0 377,000 0 1,705,480 30,130,149 4,080,769 4,457,769

2025 0 0 0 0 0 0 30,130,149 8,243,154 8,243,154

2026 0 0 0 0 0 0 0 1,807,809 31,937,958 8,737,743 8,737,743

2027 0 0 0 0 0 0 31,937,958 8,737,743 8,737,743

2028 0 0 0 0 0 0 0 1,916,277 33,854,235 9,262,008 9,262,008

2029 0 0 0 0 0 0 33,854,235 9,262,008 9,262,008

2030 0 0 0 0 0 0 0 2,031,254 35,885,489 9,817,728 9,817,728

2031 0 0 0 0 0 0 35,885,489 9,817,728 9,817,728

2032 0 0 0 0 0 0 0 2,153,129 38,038,618 10,406,792 10,406,792

2033 0 0 0 0 0 0 38,038,618 10,406,792 10,406,792

2034 0 0 0 0 0 0 0 2,282,317 40,320,936 11,031,199 11,031,199

2035 0 0 0 0 0 0 40,320,936 11,031,199 11,031,199

2036 0 0 0 0 0 0 0 2,419,256 42,740,192 11,693,071 11,693,071

2037 0 0 0 0 0 0 42,740,192 11,693,071 11,693,071

2038 0 0 0 0 0 2,564,412 45,304,603 12,394,656 12,394,656

2039 0 0 0 0 45,304,603 12,394,656 12,394,656

2040 0 0 0 0 0 2,718,276 48,022,879 13,138,335 13,138,335

2041 0 0 0 0 48,022,879 13,138,335 13,138,335

2042 0 0 0 0 0 2,881,373 50,904,252 13,926,635 13,926,635

2043 0 0 0 0 50,904,252 13,926,635 13,926,635

2044 0 0 0 0 0 3,054,255 53,958,507 14,762,233 14,762,233

2045 0 0 0 0 53,958,507 14,762,233 14,762,233

2046 0 0 0 0 0 3,237,510 57,196,018 15,647,967 15,647,967

2047 0 0 0 0 57,196,018 15,647,967 15,647,967

2048 0 0 0 0 0 3,431,761 60,627,779 16,586,845 16,586,845

2049 0 0 0 0 60,627,779 16,586,845 16,586,845

2050 0 0 0 0 0 3,637,667 64,265,446 17,582,056 17,582,056

2051 0 0 0 0 64,265,446 17,582,056 17,582,056

2052 0 0 0 0 0 3,855,927 68,121,372 18,636,979 18,636,979

2053 0 0 0 0 68,121,372 18,636,979 18,636,979

2054 0 0 0 0 0 4,087,282 72,208,655 19,755,198 19,755,198

2055 0 0 0 0 72,208,655 19,755,198 19,755,198

2056 0 0 0 0 0 4,332,519 76,541,174 20,940,510 20,940,510

2057 0 0 0 0 76,541,174 20,940,510 20,940,510

2058 0 0 0 0 0 4,592,470 81,133,644 22,196,940 22,196,940

______ __________ __________ __________

0 0 130,000 52,708,976

2/2/2018 A RMD (R+C) Fin Plan 18 C AV SummaryPrepared by D.A.Davidson & Co.


6

RENDEZVOUS METROPOLITAN DISTRICT (Residential & Commercial) Development Summary Development Projection -- Buildout Plan (updated 2/2/18)

Residential Development

Product TypeSFD (Toll Bros.) Alley Load / Park

(Wonderland)Alley Load (Hartford) TH (Hartford) Paired Patio

(Hartford) Apts (TBD) SFD (Ph2) Alley Load / Park (Ph2) Alley Load (Ph2) TH (Ph2) Paired Patio (Ph2)

Base $ ('18) $500,000 $450,000 $425,000 $350,000 $375,000 $150,000 $500,000 $450,000 $425,000 $350,000 $375,000

2017 - - - - - - - - - - -

2018 - - - - - - - - - - -

2019 18 19 16 16 16 - - - - - -

2020 36 - 25 30 20 - - - - - -

2021 16 - - - - 168 27 13 36 36 28

2022 - - - - - - 21 - 8 14 -

2023 - - - - - - - - - - -

2024 - - - - - - - - - - -

2025 - - - - - - - - - - -

2026 - - - - - - - - - - -

2027 - - - - - - - - - - -

2028 - - - - - - - - - - -

2029 - - - - - - - - - - -

2030 - - - - - - - - - - -

2031 - - - - - - - - - - -

2032 - - - - - - - - - - -

2033 - - - - - - - - - - -

2034 - - - - - - - - - - -

2035 - - - - - - - - - - -

2036 - - - - - - - - - - -

2037 - - - - - - - - - - -

70 19 41 46 36 168 48 13 44 50 28

MV @ Full Buildout $35,000,000 $8,550,000 $17,425,000 $16,100,000 $13,500,000 $25,200,000 $24,000,000 $5,850,000 $18,700,000 $17,500,000 $10,500,000(base prices;un-infl.)

notes:

Platted/Dev Lots = 10% MV; one-yr prior

Base MV $ inflated 2% per annum

2/2/2018 A RMD (R+C) Fin Plan 18 R+C Dev Summ Prepared by D.A. Davidson & Co.

7

Product TypeBase $ ('18)

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

2033

2034

2035

2036

2037

MV @ Full Buildout

(base prices;un-infl.)

RENDEZVOUS METROPOLITAN DISTRICT (Residential & Commercial) Development Summary Development Projection -- Buildout Plan (updated 2/2/18)

Commercial Development

SFD (Ph3) Alley Load (Ph3) TH (Ph3) Paired Patio (Ph3) Retail (tbd)

$500,000 $425,000 $350,000 $375,000 $200/sfRes'l Totals Comm'l Totals

- - - - - - -

- - - - - - -

- - - - 85 - -

- - - - 111 - -

- - - - 324 - -

27 36 35 36 177 65,000 65,000

18 22 - - 40 65,000 65,000

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

45 58 35 36 737 130,000 130,000

$22,500,000 $24,650,000 $12,250,000 $13,500,000 $265,225,000 $26,000,000 $26,000,000

2/2/2018 A RMD (R+C) Fin Plan 18 R+C Dev Summ Prepared by D.A. Davidson & Co.

8

Feb 2, 2018 12:14 pm Prepared by D.A, Davidson & Co Quantitative Group~PM (Rendezvous MD 18:22ABA2)

SOURCES AND USES OF FUNDS

RENDEZVOUS METROPOLITAN DISTRICT (Residential + Commercial)Combined Results

~~~~~~~~~~~~~~~~~~~~~~~~~~~~GENERAL OBLIGATION BONDS, SERIES 2022A

SUBORDINATE BONDS, SERIES 2022B~~~

[ Preliminary -- for discussion only ]

Dated Date 12/01/2022Delivery Date 12/01/2022

Sources: SERIES 2022A SERIES 2022B Total

Bond Proceeds:Par Amount 13,765,000.00 5,215,000.00 18,980,000.00

13,765,000.00 5,215,000.00 18,980,000.00

Uses: SERIES 2022A SERIES 2022B Total

Project Fund Deposits:Project Fund 13,214,400.00 5,058,550.00 18,272,950.00

Other Fund Deposits:Capitalized Interest Fund 137,650.00 137,650.00

Cost of Issuance:Other Cost of Issuance 412,950.00 156,450.00 569,400.00

13,765,000.00 5,215,000.00 18,980,000.00

9

Feb 2, 2018 12:11 pm Prepared by D.A, Davidson & Co Quantitative Group~PM (Rendezvous MD 18:AFEB0218-22IGSPA2)


RENDEZVOUS METROPOLITAN DISTRICT (Residential + Commercial)GENERAL OBLIGATION BONDS, SERIES 2022

38.695 (target) Residential Mills + 15.000 (target) Commercial MillsAssumes Investment Grade, 120x, 30-yr. Maturity

(Full Growth / No Future Reassessment Projections**)[ Preliminary -- for discsussion only ]


Sources:

Bond Proceeds:Par Amount 13,765,000.00

13,765,000.00

Uses:

Project Fund Deposits:Project Fund 13,214,400.00

Other Fund Deposits:Capitalized Interest Fund 137,650.00

Cost of Issuance:Other Cost of Issuance 412,950.00

13,765,000.00

[**] Assumes 6.00% Bi-Reassessment thru Issuance date.

10


BOND SUMMARY STATISTICS




Dated Date 12/01/2022Delivery Date 12/01/2022First Coupon 06/01/2023Last Maturity 12/01/2052

Arbitrage Yield 4.000000%True Interest Cost (TIC) 4.000000%Net Interest Cost (NIC) 4.000000%All-In TIC 4.245814%Average Coupon 4.000000%

Average Life (years) 18.781Weighted Average Maturity (years) 18.781Duration of Issue (years) 12.730

Par Amount 13,765,000.00Bond Proceeds 13,765,000.00Total Interest 10,340,600.00Net Interest 10,340,600.00Bond Years from Dated Date 258,515,000.00Bond Years from Delivery Date 258,515,000.00Total Debt Service 24,105,600.00Maximum Annual Debt Service 817,400.00Average Annual Debt Service 803,520.00

Underwriter's Fees (per $1000) Average Takedown Other Fee

Total Underwriter's Discount

Bid Price 100.000000

AveragePar Average Average Maturity PV of 1 bp

Bond Component Value Price Coupon Life Date change

Term Bond due 2053 13,765,000.00 100.000 4.000% 18.781 09/11/2041 23,951.10

13,765,000.00 18.781 23,951.10

All-In ArbitrageTIC TIC Yield

Par Value 13,765,000.00 13,765,000.00 13,765,000.00 + Accrued Interest + Premium (Discount) - Underwriter's Discount - Cost of Issuance Expense -412,950.00 - Other Amounts

Target Value 13,765,000.00 13,352,050.00 13,765,000.00

Target Date 12/01/2022 12/01/2022 12/01/2022Yield 4.000000% 4.245814% 4.000000%

11


BOND DEBT SERVICE




AnnualPeriod Debt DebtEnding Principal Coupon Interest Service Service

06/01/2023 275,300 275,30012/01/2023 275,300 275,300 550,60006/01/2024 275,300 275,30012/01/2024 185,000 4.000% 275,300 460,300 735,60006/01/2025 271,600 271,60012/01/2025 270,000 4.000% 271,600 541,600 813,20006/01/2026 266,200 266,20012/01/2026 285,000 4.000% 266,200 551,200 817,40006/01/2027 260,500 260,50012/01/2027 295,000 4.000% 260,500 555,500 816,00006/01/2028 254,600 254,60012/01/2028 305,000 4.000% 254,600 559,600 814,20006/01/2029 248,500 248,50012/01/2029 320,000 4.000% 248,500 568,500 817,00006/01/2030 242,100 242,10012/01/2030 330,000 4.000% 242,100 572,100 814,20006/01/2031 235,500 235,50012/01/2031 345,000 4.000% 235,500 580,500 816,00006/01/2032 228,600 228,60012/01/2032 360,000 4.000% 228,600 588,600 817,20006/01/2033 221,400 221,40012/01/2033 370,000 4.000% 221,400 591,400 812,80006/01/2034 214,000 214,00012/01/2034 385,000 4.000% 214,000 599,000 813,00006/01/2035 206,300 206,30012/01/2035 400,000 4.000% 206,300 606,300 812,60006/01/2036 198,300 198,30012/01/2036 420,000 4.000% 198,300 618,300 816,60006/01/2037 189,900 189,90012/01/2037 435,000 4.000% 189,900 624,900 814,80006/01/2038 181,200 181,20012/01/2038 450,000 4.000% 181,200 631,200 812,40006/01/2039 172,200 172,20012/01/2039 470,000 4.000% 172,200 642,200 814,40006/01/2040 162,800 162,80012/01/2040 490,000 4.000% 162,800 652,800 815,60006/01/2041 153,000 153,00012/01/2041 510,000 4.000% 153,000 663,000 816,00006/01/2042 142,800 142,80012/01/2042 530,000 4.000% 142,800 672,800 815,60006/01/2043 132,200 132,20012/01/2043 550,000 4.000% 132,200 682,200 814,40006/01/2044 121,200 121,20012/01/2044 570,000 4.000% 121,200 691,200 812,40006/01/2045 109,800 109,80012/01/2045 595,000 4.000% 109,800 704,800 814,60006/01/2046 97,900 97,90012/01/2046 620,000 4.000% 97,900 717,900 815,80006/01/2047 85,500 85,50012/01/2047 645,000 4.000% 85,500 730,500 816,00006/01/2048 72,600 72,60012/01/2048 670,000 4.000% 72,600 742,600 815,20006/01/2049 59,200 59,20012/01/2049 695,000 4.000% 59,200 754,200 813,40006/01/2050 45,300 45,30012/01/2050 725,000 4.000% 45,300 770,300 815,60006/01/2051 30,800 30,80012/01/2051 755,000 4.000% 30,800 785,800 816,60006/01/2052 15,700 15,70012/01/2052 785,000 4.000% 15,700 800,700 816,400

13,765,000 10,340,600 24,105,600 24,105,600

12


NET DEBT SERVICE




CapitalizedPeriod Total Interest NetEnding Principal Interest Debt Service Fund Debt Service

12/01/2023 550,600 550,600 137,650 412,95012/01/2024 185,000 550,600 735,600 735,60012/01/2025 270,000 543,200 813,200 813,20012/01/2026 285,000 532,400 817,400 817,40012/01/2027 295,000 521,000 816,000 816,00012/01/2028 305,000 509,200 814,200 814,20012/01/2029 320,000 497,000 817,000 817,00012/01/2030 330,000 484,200 814,200 814,20012/01/2031 345,000 471,000 816,000 816,00012/01/2032 360,000 457,200 817,200 817,20012/01/2033 370,000 442,800 812,800 812,80012/01/2034 385,000 428,000 813,000 813,00012/01/2035 400,000 412,600 812,600 812,60012/01/2036 420,000 396,600 816,600 816,60012/01/2037 435,000 379,800 814,800 814,80012/01/2038 450,000 362,400 812,400 812,40012/01/2039 470,000 344,400 814,400 814,40012/01/2040 490,000 325,600 815,600 815,60012/01/2041 510,000 306,000 816,000 816,00012/01/2042 530,000 285,600 815,600 815,60012/01/2043 550,000 264,400 814,400 814,40012/01/2044 570,000 242,400 812,400 812,40012/01/2045 595,000 219,600 814,600 814,60012/01/2046 620,000 195,800 815,800 815,80012/01/2047 645,000 171,000 816,000 816,00012/01/2048 670,000 145,200 815,200 815,20012/01/2049 695,000 118,400 813,400 813,40012/01/2050 725,000 90,600 815,600 815,60012/01/2051 755,000 61,600 816,600 816,60012/01/2052 785,000 31,400 816,400 816,400

13,765,000 10,340,600 24,105,600 137,650 23,967,950

13


BOND SOLUTION




Period Proposed Proposed Debt Service Total Adj Revenue Unused Debt ServEnding Principal Debt Service Adjustments Debt Service Constraints Revenues Coverage

12/01/2023 550,600 -137,650 412,950 623,595 210,645 151.00973%12/01/2024 185,000 735,600 735,600 884,785 149,185 120.28075%12/01/2025 270,000 813,200 813,200 981,013 167,813 120.63619%12/01/2026 285,000 817,400 817,400 981,013 163,613 120.01633%12/01/2027 295,000 816,000 816,000 981,013 165,013 120.22224%12/01/2028 305,000 814,200 814,200 981,013 166,813 120.48802%12/01/2029 320,000 817,000 817,000 981,013 164,013 120.07509%12/01/2030 330,000 814,200 814,200 981,013 166,813 120.48802%12/01/2031 345,000 816,000 816,000 981,013 165,013 120.22224%12/01/2032 360,000 817,200 817,200 981,013 163,813 120.04570%12/01/2033 370,000 812,800 812,800 981,013 168,213 120.69555%12/01/2034 385,000 813,000 813,000 981,013 168,013 120.66586%12/01/2035 400,000 812,600 812,600 981,013 168,413 120.72526%12/01/2036 420,000 816,600 816,600 981,013 164,413 120.13391%12/01/2037 435,000 814,800 814,800 981,013 166,213 120.39930%12/01/2038 450,000 812,400 812,400 981,013 168,613 120.75498%12/01/2039 470,000 814,400 814,400 981,013 166,613 120.45843%12/01/2040 490,000 815,600 815,600 981,013 165,413 120.28120%12/01/2041 510,000 816,000 816,000 981,013 165,013 120.22224%12/01/2042 530,000 815,600 815,600 981,013 165,413 120.28120%12/01/2043 550,000 814,400 814,400 981,013 166,613 120.45843%12/01/2044 570,000 812,400 812,400 981,013 168,613 120.75498%12/01/2045 595,000 814,600 814,600 981,013 166,413 120.42886%12/01/2046 620,000 815,800 815,800 981,013 165,213 120.25171%12/01/2047 645,000 816,000 816,000 981,013 165,013 120.22224%12/01/2048 670,000 815,200 815,200 981,013 165,813 120.34022%12/01/2049 695,000 813,400 813,400 981,013 167,613 120.60652%12/01/2050 725,000 815,600 815,600 981,013 165,413 120.28120%12/01/2051 755,000 816,600 816,600 981,013 164,413 120.13391%12/01/2052 785,000 816,400 816,400 981,013 164,613 120.16334%

13,765,000 24,105,600 -137,650 23,967,950 28,976,757 5,008,807

14

Feb 2, 2018 12:13 pm Prepared by D.A, Davidson & Co Quantitative Group~PM (Rendezvous MD 18:AFEB0218-22BCFA2)


RENDEZVOUS METROPOLITAN DISTRICT (Residential + Commercial)SUBORDINATE BONDS, SERIES 2022B

38.695 (target) Residential Mills + 15.000 (target) Commercial MillsNon-Rated, Cash-Flow Bonds, Annual Pay, 12/15/2052 (Stated) Maturity

(Full Growth + 6.00% Bi-Reassessment Projections)[ Preliminary -- for discsussion only ]


Sources:

Bond Proceeds:Par Amount 5,215,000.00

5,215,000.00

Uses:

Project Fund Deposits:Project Fund 5,058,550.00

Cost of Issuance:Other Cost of Issuance 156,450.00

5,215,000.00

15

Feb 2, 2018 12:13 pm Prepared by D.A, Davidson & Co Quantitative Group~PM (Rendezvous MD 18:AFEB0218-22BCFA2)

BOND PRICING

RENDEZVOUS METROPOLITAN DISTRICT (Residential + Commercial)SUBORDINATE BONDS, SERIES 2022B

38.695 (target) Residential Mills + 15.000 (target) Commercial MillsNon-Rated, Cash-Flow Bonds, Annual Pay, 12/15/2052 (Stated) Maturity

(Full Growth + 6.00% Bi-Reassessment Projections)[ Preliminary -- for discsussion only ]

MaturityBond Component Date Amount Rate Yield Price

Term Bond due 2052:12/15/2052 5,215,000 7.000% 7.000% 100.000

5,215,000

Dated Date 12/01/2022Delivery Date 12/01/2022First Coupon 12/15/2022

Par Amount 5,215,000.00Original Issue Discount

Production 5,215,000.00 100.000000%Underwriter's Discount

Purchase Price 5,215,000.00 100.000000%Accrued Interest

Net Proceeds 5,215,000.00

16

TOWN COUNCIL COMMUNICATION Meeting Date:

Item: EXECUTIVE SESSION: “For the purposes of discussion concerning the purchase, acquisition, lease, transfer, or sale of real, personal, or other property interests under Section §24-6-402(a), C.R.S.; discussion concerning personnel matters under §24-6-402(4)(f), C.R.S.; discussion regarding positions relative to matters that may be subject to negotiations and development of a strategy for negotiations under §24-6-402(4)(e), C.R.S.; and conferences with the Town’s attorney for purposes of receiving legal advice on specific legal questions under §24-6-402(4)(b), C.R.S.”

Ordinance

Resolution

Discussion X

Presented by: Town Attorney

KEY POINTS/SUPPORTING INFORMATION: EXECUTIVE SESSION: “For the purposes of discussion concerning the purchase, acquisition, lease, transfer, or sale of real, personal, or other property interests under Section §24-6-402(a), C.R.S.; discussion concerning personnel matters under §24-6-402(4)(f), C.R.S.; discussion regarding positions relative to matters that may be subject to negotiations and development of a strategy for negotiations under §24-6-402(4)(e), C.R.S.; and conferences with the Town’s attorney for purposes of receiving legal advice on specific legal questions under §24-6-402(4)(b), C.R.S.”

ADVANTAGES: N/A

DISADVANTAGES: N/A

FINANCIAL IMPACT: N/A

RECOMMENDATIONS: I move to enter into Executive Session “For _____________________________________________.”

ATTACHMENTS: N/A

Documents

2. 3. 4. a. 5. · Mr. Hosana spoke to Council about the proposed development of the property. Council Comments: