The URL can be used to link to this page

05.14.2013 Town Council Packet Page 1 of 3 ] Prosper is a place where everyone matters. 1. Call to Order/Roll Call. 2. Invocation, Pledge of Allegiance and Pledge to the Texas Flag. 3. Announcements of upcoming events. 4. Presentation by members of Girl Scout Troop #1968 on their recent recycling project. 5. CONSENT AGENDA (Items placed on the Consent Agenda are considered routine in nature and are considered non-controversial. The Consent Agenda can be acted upon in one motion. A majority vote of the Council is required to remove any item for discussion and separate action. Council members may vote nay on any single item without comment and may submit written comments as part of the official record.) 5a. Consider and act upon minutes from the following Council meeting. (RB)  Regular Meeting – April 23, 2013 5b. Consider and act upon whether to direct staff to submit a written notice of appeal on behalf of the Town Council to the Development Services Department, pursuant to Chapter 4, Section 1.5(C)(7) and 1.6(B)(7) of the Town’s Zoning Ordinance, regarding action taken by the Planning & Zoning Commission on any site plan or preliminary site plan. (CC) 5c. Consider and act upon the monthly financial reports for March 2013. (MG) 6. CITIZEN COMMENTS: (The public is invited to address the Council on any topic. However, the Council is unable to discuss or take action on any topic not listed on this agenda. Please complete a “Public Comments Form” and present it to the Town Secretary prior to the meeting.) Other Comments by the Public - AGENDA Meeting of the Prosper Town Council Prosper Municipal Chambers 108 W. Broadway, Prosper, Texas Tuesday, May 14, 2013 Meeting begins at 6:00 p.m. Page 2 of 3 REGULAR AGENDA: (If you wish to address the Council during the regular agenda portion of the meeting, please fill out a “Speaker Request Form” and present it to the Town Secretary prior to the meeting. Citizens wishing to address the Council for items listed as public hearings will be recognized by the Mayor. Those wishing to speak on a non-public hearing related item will be recognized on a case-by-case basis, at the discretion of the Mayor and Town Council.) PUBLIC HEARING: 7. A Public Hearing to consider and act upon a request to rezone 0.3± acres, located on the north side of First Street, 1,500± feet east of Legacy Drive from Agricultural (A) to Planned Development-Agricultural (PD-A) (Z12-0004). (CC) DEPARTMENT ITEMS: 8. Consider and act upon Resolution No. 13-29 to protect and defend the Second Amendment constitutional right to keep and bear arms. (RB) 9. Consider and act upon Ordinance No. 13-30 approving the final Project and Financing Plan for the Town of Prosper Tax Increment Financing Reinvestment Zone Number Two. (HJ) 10. Presentation from IPS Advisors and discussion regarding both an update on the insurance renewal process and also the expected financial impact of the healthcare reform act on the Town of Prosper employee benefits. (MG) 11. Consider and act upon Resolution No. 13-31 providing for and directing publication of a notice of intent to issue Town of Prosper Combination Tax and Surplus Revenue Certificates of Obligation to fund the construction of water system improvements. (MG) 12. Discussion on Stage 3 Drought Contingency and Water Emergency Response Measures, proposed water conservation programs and potential enforcement program. (FJ) 13. EXECUTIVE SESSION: Recess into Closed Session in compliance with Section 551.001 et. seq. Texas Government Code, as authorized by the Texas Open Meetings Act, to deliberate regarding: Page 3 of 3 13a. Section 551.072. To deliberate the purchase, exchange, lease or value of real property generally located north of U.S. Highway 380, south of Prosper Trail, west of Preston Road and east of the Dallas North Tollway. 13b. Section 551.074. Discuss and consider Town Attorney applicants and all matters incident and related thereto. 14. To reconvene in Regular Session and take any action necessary as a result of the Closed Session. 15. Possibly direct Town staff to schedule topic(s) for discussion at a future meeting. 16. Adjourn. CERTIFICATION I, the undersigned authority, do hereby certify that this Notice of Meeting was posted on the inside window at the Town Hall of the Town of Prosper, 121 W. Broadway Street, Prosper, Texas, a place convenient and readily accessible to the general public at all times, and said Notice was posted on the following date and time: On May 10, 2013, by 5:00 p.m. and remained so posted at least 72 hours before said meeting was convened. ________________________________ Robyn Battle, Town Secretary If during the course of the meeting covered by this Notice, the Town Council should determine that a closed or executive meeting or session of the Town Council or a consultation with the attorney/special counsel for the Town should be held or is required, then such closed or executive meeting or session or consultation with the attorney/special counsel as authorized by the Texas Open Meetings Act, Texas Government Code, §551.001, et seq., will be held by the Town Council at the date, hour and place given in this Notice or as soon after the commencement of the meeting covered by this Notice as the Town Council may conveniently meet in such closed or executive meeting or session or consult with the attorney/special counsel for the Town concerning any and all subjects and for any and all purposes permitted by the Act, including, but not limited to, the following sections and purposes: Texas Government Code: §551.071 - Consultation with the attorney/special counsel for the Town. §551.072 - Discussion regarding the purchase, exchange, lease or value of real property. §551.074 - Discussion regarding personnel matters. NOTICE Pursuant to Town of Prosper Ordinance Number 07-04, all speakers other than Town of Prosper Staff are limited to three (3) minutes per person, per item, which may be extended for an additional two (2) minutes with approval of a majority vote of the Town Council. NOTICE OF ASSISTANCE AT PUBLIC MEETINGS: The Prosper Town Council Meetings are wheelchair accessible. Persons with disabilities who plan to attend this meeting and who may need auxiliary aids or services such as interpreters for persons who are deaf or hearing impaired, readers, or large print, are requested to contact the Town Secretary’s Office at (972) 569-1011. BRAILLE IS NOT AVAILABLE. Page 1 of 7 ] Prosper is a place where everyone matters. 1. Call to Order/Roll Call. The meeting was called to order at 6:03 p.m. Council Members Present: Mayor Ray Smith Deputy Mayor Pro Tem Kenneth Dugger Council Member Mike Korbuly Council Member Curry Vogelsang Council Member Danny Wilson Council Member Jason Dixon Council Members Absent: Mayor Pro Tem Meigs Miller 2. Invocation, Pledge of Allegiance and Pledge to the Texas Flag. Pastor David Hancock of Christ Fellowship of Prosper led the invocation. The Pledge of Allegiance and the Pledge to the Texas Flag were recited. 3. Proclamations Item 3a was presented after the announcement of upcoming events. Mayor Smith presented the following Proclamation: 3b. Presentation of a proclamation recognizing May 12-18, 2013, as Police Week, and recognizing May 15, 2013, as Peace Officers’ Memorial Day. 4. Announcements of upcoming events. Deputy Mayor Pro Tem Kenneth Dugger expressed the Town’s deepest sympathies for those affected by the tragedy in West, Texas. Deputy Mayor Pro Tem Kenneth Dugger announced that the first “Friday at the Park” Summer Series event featuring outdoor movies, music, food and entertainment, is scheduled for Friday, May 3rd, at 6:30 p.m. at Frontier Park Pavilion, with the movie beginning at dusk. Deputy Mayor Pro Tem Kenneth Dugger announced Allstate Kite Day to be held at Frontier Park on Saturday, May 11. MINUTES Meeting of the Prosper Town Council Prosper Municipal Chambers 108 W. Broadway, Prosper, Texas Tuesday, April 23, 2013 6:00 p.m. Regular Meeting Item 5a Page 2 of 7 Council Member Mike Korbuly announced Prosper ISD’s “Shattered Dreams” Program, which highlights the dangers of drinking or texting while driving. Events will be held April 25-26, including a parent meeting, simulated crash and a mock memorial for victims. Council Member Dixon expressed his appreciation to the community of Prosper for their outpouring of concern and willingness to help the victims of the recent tragedies our country has experienced. Mayor Smith announced the Special Olympics Track & Field Meet to be held on Friday, May 10, at Eagle Stadium in Prosper. Opening Ceremonies begin at 9:30 a.m. Mayor Smith presented the following Proclamation: 3a. Presentation of a proclamation recognizing May 2013, as Motorcycle Safety and Awareness Month. 5. CONSENT AGENDA (Items placed on the Consent Agenda are considered routine in nature and are considered non-controversial. The Consent Agenda can be acted upon in one motion. A majority vote of the Council is required to remove any item for discussion and separate action. Council members may vote nay on any single item without comment and may submit written comments as part of the official record.) Mayor Smith recognized Ken Weaver, 1480 Beacon Hill Drive, Prosper, TX. Mr. Weaver questioned the Council and provided comments for the record about the reserve level (rainy day fund) of the Town’s budget. Finance Director Matthew Garrett responded to his question. Deputy Mayor Pro Tem Dugger removed Items 5b and 5c from the Consent Agenda. 5a. Consider and act upon minutes from the following Council meeting. (HJ)  Regular Meeting – April 9, 2013 5d. Consider and act upon the monthly financial reports. (MG) Deputy Mayor Pro Tem Dugger made a motion and Council Member Wilson seconded the motion to approve Items 5a and 5d on the Consent Agenda. The motion was approved by a vote of 6-0. 5b. Consider and act upon Resolution No. 13-27 naming a Town Secretary. (HJ) Deputy Mayor Pro Tem Dugger made a motion and Council Member Wilson seconded the motion to approve Item 5b on the Consent Agenda. The motion was approved by a vote of 6-0. Item 5a Page 3 of 7 5c. Consider and act upon the quarterly investment portfolio for the quarter ending March 31, 2013. (MG) After discussion, Council Member Vogelsang made a motion and Deputy Mayor Pro Tem Dugger seconded the motion to approve Item 5c on the Consent Agenda. The motion was approved by a vote of 6-0. 6. CITIZEN COMMENTS: (The public is invited to address the Council on any topic. However, the Council is unable to discuss or take action on any topic not listed on this agenda. Please complete a “Public Comments Form” and present it to the Town Secretary prior to the meeting.) Chris Blair, 841 Sibyl Lane, spoke regarding the citizen priorities identified during his service on the 2011 Bond Committee. He requested an update on the 2011 bond issue as an agenda item at a future Town Council meeting. Cap Parry, 850 Kingsview Drive, thanked Town staff on behalf of the Prosper Historical Society for their guidance on historical preservation of Old Town Prosper, and for the information provided regarding apartment regulations. Michele Williams, 1220 Concho Trail, spoke regarding expanding tennis programs within the Town of Prosper and creating a Tennis Association. Heather Reynolds announced to the Town Council that “Wreck-It Ralph” will be the first movie in the Summer Series Event, and provided other details related to the event. REGULAR AGENDA: (If you wish to address the Council during the regular agenda portion of the meeting, please fill out a “Speaker Request Form” and present it to the Town Secretary prior to the meeting. Citizens wishing to address the Council for items listed as public hearings will be recognized by the Mayor. Those wishing to speak on a non-public hearing related item will be recognized on a case-by-case basis, at the discretion of the Mayor and Town Council.) DEPARTMENT ITEMS: 7. Consider and act upon 1) an Infrastructure Reimbursement Agreement between the Prosper Economic Development Corporation, the Town of Prosper, Texas, and Preston Development, Ltd., related to the design and construction of certain drainage improvements at the northeast corner of the intersection of First Street and Preston Road; 2) adopting Resolution No. 13-28; and, 3) authorizing the Town Manager to execute same. (HW) Item 5a Page 4 of 7 Development Services Director Hulon Webb presented the item before the Town Council. In an effort to provide an aesthetically pleasing cornerstone location within the Town of Prosper, staff assessed the possibility of filling in the large drainage channel on the northeast corner of First Street and Preston Road. The proposed Infrastructure Reimbursement Agreement between the Town of Prosper, Preston Development Ltd., and the Prosper Economic Development Corporation (PEDC) outlines the terms for each organization to contribute a portion of the funds necessary to complete the project. The design is complete, TxDOT has approved the proposed improvements, and the PEDC approved their participation in the agreement. Town staff recommends approval of this item. After discussion, Deputy Mayor Pro Tem Dugger made a motion and Council Member Wilson seconded the motion to approve an Infrastructure Reimbursement Agreement between the Prosper Economic Development Corporation, the Town of Prosper, Texas, and Preston Development, Ltd., related to the design and construction of certain drainage improvements at the northeast corner of the intersection of First Street and Preston Road; adopt Resolution No. 13-28; and authorize the Town Manager to execute same. The motion was approved by a vote of 6-0. 8. Consider and act upon Change Order #2 to Tiseo Paving Co., for the First Street (Craig Street to Coit Road) and Coit Road (US 380 to First Street) Improvements Project. (HW) Development Services Director Hulon Webb presented the item before the Town Council. The Town Council approved the original contract for the First Street improvements (Craig Street to Coit Road) and Coit Road improvements (First Street to US 380) to Tiseo Paving Co. on November 8, 2011. Town Council approved Change Order #1 in October of 2012 for construction of a deceleration lane in La Cima 7, subgrade preparation and water line modifications. Change Order #2 will provide for drainage improvements at the northeast corner of First Street and Preston Road, and will be funded through the Infrastructure Reimbursement Agreement that was approved at this evening’s meeting. Town staff recommends approval of this item. After discussion, Deputy Mayor Pro Tem Dugger made a motion and Council Member Korbuly seconded the motion to approve Change Order #2 to Tiseo Paving Co., for the First Street (Craig Street to Coit Road) and Coit Road (US 380 to First Street) Improvements Project. The motion was approved by a vote of 6-0. 9. TABLED ITEM - Consider and act upon the proposed park land dedication within the limits of the preliminary plat of Tanner’s Mill, on 138.5± acres, located on the east side of Coleman Street (D12-0048). (HW) Development Services Director Hulon Webb presented the item before the Town Council. Mr. Webb reviewed the Town’s park land dedication requirements. The park land dedication requirement for this development is 8.8 acres and does not include a proposed elementary school on the property. This item was tabled at the April 9, 2013, Town Council meeting to allow time for discussions to continue between the developer and the school district about whether a school site would be located on the property. Item 5a Page 5 of 7 Jerry Sylo, representative of the developer, D.R. Horton, updated Council on the discussions and negotiations with the Town and the school district regarding the location of the park land and a potential school site. While the issue of the school site has not been finalized, the park land dedication is consistent with the Town’s Parks, Recreation and Open Space Master Plan. Due to the zoning of the surrounding area, the proposed location of a neighborhood park in Tanner’s Mill would benefit local residents, and also connect area developments via the Town’s hike and bike trail system. The Parks and Recreation Board has recommended acceptance of the park land dedication and the Planning & Zoning Commission has approved the preliminary plat. Town staff recommends approval of this item. After discussion, Council Member Vogelsang made a motion, and Council Member Wilson seconded the motion to approve the proposed conveyance of land for an 8.8-acre neighborhood park, as shown on the approved preliminary plat of Tanner’s Mill. The motion was approved by a vote of 5-1. 10. Consider and act upon Ordinance 13-12 amending Ordinance 12-28 and approving additional appropriations in the amounts of $174,050 in the General Fund and $110,000 in the Water/Wastewater Fund for the Fiscal Year 2012-2013 Budget. (MG) Town Manager Harlan Jefferson introduced this item. In an effort to improve staff efficiency and productivity, and to also accommodate growth and respond to concerns raised in the management letter from the auditors, Town staff has proposed a two-stage reorganization process. Mr. Jefferson reviewed the proposed organizational changes. The proposal includes new positions, as well as reorganized and reclassified positions. Finance Director Matthew Garrett continued the presentation to further explain the proposed organizational changes and to review the proposed amendments to the FY 2012-2013 budget. In addition to increasing personnel budgets to hire new positions and support reclassifications for some existing staff, the Library and Fire Department budgets are increasing to specifically appropriate for the expenditure of donation and grant funds. The Water/Wastewater Fund is increasing to purchase more water meters and contract for well-capping services on multiple Town-owned sites. The Local Government Code allows changes to the budget for municipal purposes under Section 102.010. Town staff recommends approval of this item. After discussion, Council Member Mike Korbuly made a motion, and Council Member Vogelsang seconded the motion to approve Ordinance 13-12 amending Ordinance 12-28 and approving additional appropriations in the amounts of $174,050 in the General Fund and $110,000 in the Water/Wastewater Fund for the Fiscal Year 2012-2013 Budget, and amending Exhibit A to designate $40,000 for Professional Services. The motion was approved by a vote of 6-0. Mayor Smith moved Agenda Item 13 to follow the Regular Agenda. 13. Possibly direct Town Staff to schedule topic(s) for discussion at a future meeting. Item 5a Page 6 of 7 13a. City of Rockwall Resolution discussed at their March 4 Town Council meeting: “Discuss and consider approval of a resolution regarding the 2nd Amendment to protect and defend the constitutional right to keep and bear arms, and take any action necessary.” Mayor Smith recognized the following citizens who filled out speaker request forms on this item: Shawn Turner, 2710 Gentle Creek Trail, Prosper, Texas, spoke in favor of this item. Ann Lieber, 1190 Crooked Stick, Prosper, Texas, spoke in favor of this item and attached comments to her speaker request form. Ken Weaver, 1480 Beacon Hill Drive, Prosper, Texas, spoke in favor of this item. Jack Dixon, 810 Long Valley Court, Prosper, Texas, spoke in favor of this item. After discussion, Mayor Smith directed Town staff to bring this item forward for discussion and action at the May 14, 2013, Town Council meeting. 11. EXECUTIVE SESSION: Council Member Korbuly left the Council bench. Deputy Mayor Pro Tem Dugger made a motion and Council Member Wilson seconded the motion to recess into Executive Session at 7:49 p.m. The motion was approved by a vote of 5-0. Council Member Korbuly returned as the Council recessed into Executive Session. Recess into Closed Session in compliance with Section 551.001 et. seq. Texas Government Code, as authorized by the Texas Open Meetings Act, to deliberate regarding: 11a. Section 551.072. To deliberate the purchase, exchange, lease or value of real property generally located north of U.S. Highway 380, south of Prosper Trail, west of Preston Road and east of the Dallas North Tollway. 11b. Section 551.071. Meeting with Town Attorney regarding a matter in which the duty of the Town Attorney under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas conflicts with the Open Meetings Act to receive legal advice regarding the Police Department’s standard operating procedures, and matters related thereto. Item 5a Page 7 of 7 11c. Section 551.071. Meeting with Town Attorney regarding a matter in which the duty of the Town Attorney under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas conflicts with the Open Meetings Act regarding legal issues related to the Comprehensive Plan. 11d. Section 551.074. Discuss and consider Town Attorney applicants and all matters incident and related thereto. 12. To reconvene in Regular Session and take any action necessary as a result of the Closed Session. Deputy Mayor Pro Tem Dugger made a motion and Council Member Wilson seconded the motion to reconvene into Regular Session at 9:09 p.m. The motion was approved by a vote of 6-0. No action was taken on items discussed in Executive Session. Council Member Dixon asked Town staff to place an item on the May 14, 2013, Town Council agenda to update the Town Council on how the healthcare reform act may impact the Town’s employee benefits plan and the Town’s budget. 14. Adjourn. Deputy Mayor Pro Tem Dugger made a motion and Council Member Korbuly seconded the motion to adjourn the meeting at 9:10 p.m on Tuesday, April 23, 2013. The motion was approved by a vote of six 6-0. These minutes approved on the 14th day of May, 2013. APPROVED: Ray Smith, Mayor ATTEST: Robyn Battle, Town Secretary Item 5a To: Mayor and Town Council From: Chris Copple, AICP, Director of Development Services Cc: Harlan Jefferson, Town Manager Hulon T. Webb, Jr., P.E., Executive Director of Development and Community Services Re: Town Council Meeting – May 14, 2013 Date: May 6, 2013 Agenda Item: Consider and act upon whether to direct staff to submit a written notice of appeal on behalf of the Town Council to the Development Services Department, pursuant to Chapter 4, Section 1.5(C)(7) and 1.6(B)(7) of the Town’s Zoning Ordinance, regarding action taken by the Planning & Zoning Commission on any site plan or preliminary site plan. Description of Agenda Item: Attached are the site plans and/or preliminary site plans acted on by the Planning & Zoning Commission at their May 8, 2013 meeting. Per the Town’s Zoning Ordinance, the Town Council has the ability to direct staff to submit a written notice of appeal on behalf of the Town Council to the Development Services Department for any site plan or preliminary site plan acted on by the Planning & Zoning Commission. Attached Documents: 1. Preliminary site plan for Whispering Farms Commercial Center, Block A, Lot 5R-C, on 4.3± acres, located on the east side of Coit Road, 500± feet south of Prosper Trail. 2. Site plan for Whispering Farms Commercial Center, Block A, Lot 5R-C, on 4.3± acres, located on the east side of Coit Road, 500± feet south of Prosper Trail. 3. Site plan for Prosper Plaza, Block A, Lot 1 (Taco Bueno), on 0.9± acre, located on the northwest corner of Custer Road and US HWY 380. Town Staff Recommendation: Town staff recommends the Town Council take no action on this item. Prosper is a place where everyone matters. PLANNING Item 5b F.HF.HF.H60' MEDIAN OPENING60' MEDIAN OPENINGREMOVE EXISTINGHEADWALL6 LANE DIVIDED THOROUGHFAREEX. 20" WATER LINEPROPOSED OFF SITESTREET EASEMENTCOIT ROADCOIT ROADProject for:Sheet Title:Sheet:PRELIMINARY SITE PLANSD1.1Sheet:Architect / Engineer:Stamp:Project Number:Plan Series:Date:MAY 2, 2013PROSPER WARD MEETINGHOUSE COIT RD. & PROSPER TRAIL PROSPER, TEXAS 75080 MAY 02, 2013- - Mark DescriptionDate (D-M-Y) - - - - - - - - - - - - 02 MAY 13 Item 5b EItem 5b Item 5b "A PLACE WHERE EVERYONE MATTERS" FINANCIALS FY 2012 - 2013 March, 2013 Item 5c CASH OVERVIEW General Fund Water/Sewer Fund I & S Internal Service Fund Cap Proj Storm Drainage *Parks (Ded + Imp) **Impact Fees ***Sp Rev Fund Sp. Rev Escrow EDC TOTALS CASH-LOCAL BANK 4,498,532 4,914,353 1,832,193 100,399 4,119,149 231,132 177,034 3,794,949 89,370 1,086,288 1,972,533 22,815,933 CERT. OF DEPOSIT 2,011,370 4,023,778 201,005 - - - - - - - - 6,236,154 TEXPOOL BALANCE 84,227 4,711 37,621 - 4,166,005 - - 2,211,006 - - 1,325 6,504,895 TEXSTAR BALANCE 2,575,443 - - - 1,349,858 - 1,152,715 2,483,647 - 972,970 1,190 8,535,823 TOTAL 9,169,572 8,942,842 2,070,819 100,399 9,635,012 231,132 1,329,749 8,489,603 89,370 2,059,257 1,975,048 44,092,804 *Parks Fund combines Parks Dedication and Parks Improvement **Impact Fees consist of Water Impact, Sewer Impact, Thoroughfare and West Thoroughfare Impact fees. ***Special Revenue Fund figure consist of Court Technology Fd, Court Security Fd, Police donations, Fire donations, Safety Fair donations, Child Safety collections, Shattered Dreams donations and Country Christmas donations. These are all retricted funds for specific purposes. Total Restricted Funds 16,239,775 END-OF-MONTH CASH OVERVIEW (RECONCILED) March, 2013 "a place where everyone matters" Item 5c 80-1320-00-00 20-2120-00-00 20-2410-00-00 20-2505-00-00 20-2510-00-00 20-2545-00-00 20-2591-00-00 20-2598-00-00 20-2599-00-00 20-2950-00-00 20-2970-00-00 20-2975-00-00 20-2980-00-00 20-2982-00-00 20-2995-00-00 20-3110-00-00 20-3140-00-00 20-3150-00-00 30-1130-00-00 30-1131-00-00 30-1310-00-00 30-1530-00-00 30-1950-00-00 30-2120-00-00 30-2915-00-00 30-2921-00-00 "a place where everyone matters" END-OF-MONTH CASH OVERVIEW (RECONCILED) March, 2013 4,499 4,914 1,832 100 4,119 231 177 3,795 89 1,086 1,973 2,011 4,024 201 - - - - - - - - 84 5 38 - 4,166 - - 2,211 - - 1 2,575 - - - 1,350 - 1,153 2,484 - 973 1 $0 $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 General Fund Water/Sewer Fund I & S Internal Service Fund Cap Proj Storm Drainage *Parks (Ded + Imp) **Impact Fees ***Sp Rev Fund Sp. Rev Escrow EDC Thousands TEXSTAR BALANCE TEXPOOL BALANCE CERT. OF DEPOSIT CASH-LOCAL BANK 22,815,933 51.75% 6,236,154 14.14% $6,504,895 14.75% $8,535,823 19.36% Item 5c % of Total % of Total % of Total Month FY 10/11 Taxes Due FY 11/12 Taxes Due FY 12/13 Taxes Due Oct 670,832.76$ 11.13%345,581.69$ 5.38%199,295.89$ 2.91% Nov 245,708.45$ 4.08%269,564.25$ 4.20%312,797.73$ 4.58% Dec 2,307,007.29$ 38.28%2,778,563.05$ 43.29%2,668,522.67$ 39.03% Jan 2,289,662.66$ 38.00%2,055,811.24$ 32.03%2,840,054.97$ 41.54% Feb 698,822.18$ 11.60%724,407.75$ 11.29%734,118.21$ 10.74% Mar 199,858.51$ 3.32%99,594.86$ 1.55%108,274.55$ 1.58% Apr 36,824.36$ 0.61%57,941.01$ 0.90% May 67,437.54$ 1.12%57,482.87$ 0.90% June 39,365.06$ 0.65%16,505.67$ 0.26% July 26,492.13$ 0.44%30,368.29$ 0.47% Aug 14,870.63$ 0.25%11,530.90$ 0.18% Sept 19,320.71$ 0.32%1,465.09$ 0.02% YTD Totals 6,616,202.28$ 109.79%6,448,816.67$ 100.48%6,863,064.02$ 100.38%Collected YTD includes delinquent collections 6,026,100.54$ 6,418,046.61$ 6,837,016.79$ Total taxes due includes delinquent before adjustments $- $250 $500 $750 $1,000 $1,250 $1,500 $1,750 $2,000 $2,250 $2,500 $2,750 $3,000 Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept Thousands PROPERTY TAX COLLECTIONS THREE (3) YEAR COMPARISON FOR PEAK COLLECTION MONTHS 0% 20% 40% 60% 80% 100% 120% Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept Percent Collected PROPERTY TAX COLLECTIONS THREE (3) YEAR COMPARISON PERCENT OF TOTAL DUE (Before Adjustments) COLLECTED Item 5c Total Total Current Year For For Total For $ Amount % of Change Month FY 10/11 FY 11/12 FY 12/13 Inc /(Dec)Inc /(Dec) Oct 105,623.03$ 132,769.97$ 201,979.59$ 69,209.62$ 52.13% Nov 102,733.59$ 151,482.42$ 214,546.84$ 63,064.42$ 41.63% Dec 63,109.58$ 124,330.65$ 216,748.39$ 92,417.74$ 74.33% Jan 73,055.18$ 116,402.88$ 178,379.69$ 61,976.81$ 53.24% Feb 77,725.19$ 152,805.41$ 191,529.31$ 38,723.90$ 25.34% Mar 76,266.92$ 116,790.53$ 142,790.48$ 25,999.95$ 22.26% Apr 91,119.20$ 139,896.45$ May 134,429.49$ 160,653.78$ June 111,390.14$ 161,052.24$ July 122,119.89$ 169,498.46$ Aug 153,415.34$ 188,573.69$ Sept 129,026.27$ 191,387.99$ YTD Totals 1,240,013.82$ 1,805,644.47$ 1,145,974.30$ 351,392.44$ 51.84% 1,400,000.00$ Budgeted Sales Tax THREE YEAR (3) COMPARISON TOWN OF PROSPER SHARE OF SALES TAX PROSPER, TEXAS $- $50,000 $100,000 $150,000 $200,000 $250,000 Item 5c . gluser_r&a2 lheikkinen Town of Prosper Page 1 09:03 05/06/13 Rev/Exp Fund Category Rept (3) Fund: Period Ending: 3/2013 Account Number Description Current Current Percent YTD Current Current Year YTD % Remaining Month Adopted Actual Budget Actual GENERAL FUND REVENUES Property Tax 4,309,802.00- 4,184,903.28- 97.828 124,898.72- 66,025.61- Sales Tax 1,404,500.00- 1,147,423.02- 93.660 257,076.98- 142,790.48- Franchise 434,500.00- 189,516.56- 50.944 244,983.44- License, Fees, & Permits 1,622,625.00- 869,139.94- 67.609 753,485.06- 129,871.03- Charges for Services 192,900.00- 109,021.33- 67.268 83,878.67- 29,755.38- Grants 30,250.00- 37,539.67- 139.046 7,289.67 Investments Income 60,100.00- 32,966.46- 54.853 27,133.54- 8,640.29- Fines & Warrants 280,000.00- 61,560.03- 27.883 218,439.97- 16,726.24- Transfer In 801,700.00- 400,849.98- 58.333 400,850.02- 66,808.33- Miscellaneous 26,250.00- 171,479.90- 721.802 145,229.90 4,555.00- Total Revenues 9,162,627.00- 7,204,400.17- 85.020 1,958,226.83- 465,172.36- Appropriations Personnel 6,215,967.00 2,559,930.34 48.451 3,656,036.66 434,690.79 Materials and Supplies 595,165.00 246,321.56 44.740 348,843.44 46,777.60 Town Services / Maintenance 555,278.00 190,648.95 39.467 364,629.05 28,305.10 Contractual / Professional Ser 1,738,460.00 906,642.77 58.882 831,817.23 157,966.66 Capital 732,550.00 667,288.52 91.316 65,261.48 6,350.00 Interfund Transfer Out 20,207.00 8,500.02 49.076 11,706.98 1,416.67 Total Appropriations 9,857,627.00 4,579,332.16 52.747 5,278,294.84 675,506.82 Revenue Over/(Under) Approp 695,000.00 2,625,068.01- -372.719 3,320,068.01 210,334.46 . gluser_r&a2 lheikkinen Town of Prosper Page 2 09:03 05/06/13 Rev/Exp Fund Category Rept (3) Fund: Period Ending: 3/2013 Account Number Description Current Current Percent YTD Current Current Year YTD % Remaining Month Adopted Actual Budget Actual WATER & SEWER FUND Revenues Licenses, Fees, & Permits 10,500.00- 10,953.85- 118.338 453.85 1,658.17- Investment Income 30,000.00- 49,631.89- 165.440 19,631.89 14,693.70- Miscellaneous 25,000.00- 39,204.73- 193.160 14,204.73 5,158.96- W/S Tap & Connection 300,000.00- 219,375.00- 89.950 80,625.00- 28,750.00- Service Initation Fees 32,000.00- 22,625.00- 86.703 9,375.00- 4,635.00- Water Charges 4,690,000.00- 1,923,315.96- 46.877 2,766,684.04- 225,666.30- Sewer Charges 2,043,500.00- 1,048,177.12- 60.889 995,322.88- 194,280.84- Penalties 50,000.00- 34,099.69- 75.839 15,900.31- 3,357.68- Solid Waste Charges 720,000.00- 404,258.01- 65.780 315,741.99- 68,655.20- Total Revenues 7,901,000.00- 3,751,641.25- 55.212 4,149,358.75- 546,855.85- Appropriations Personnel 907,841.00 372,132.64 47.350 535,708.36 59,823.94 Materials and Supplies 1,604,350.00 767,704.11 56.066 836,645.89 186,112.09 Town Services / Maintenance 556,208.00 157,349.65 32.535 398,858.35 24,244.71 Contractual/Professional Servi 2,031,950.00 934,938.43 53.186 1,097,011.57 158,099.35 Capital 88,000.00 82,126.61 93.326 5,873.39 Bonds 1,596,847.00 681,311.60 42.666 915,535.40 Interfund Transfers Out 791,320.00 395,659.98 58.333 395,660.02 65,943.33 Total Appropriations 7,576,516.00 3,391,223.02 50.367 4,185,292.98 494,223.42 Revenue Over/(Under) Approp 324,484.00- 360,418.23- 168.335 35,934.23 52,632.43- . gluser_r&a2 lheikkinen Town of Prosper Page 3 09:03 05/06/13 Rev/Exp Fund Category Rept (3) Fund: Period Ending: 3/2013 Account Number Description Current Current Percent YTD Current Current Year YTD % Remaining Month Adopted Actual Budget Actual INTEREST & SINKING FUND Revenues Property Tax 2,769,956.00- 2,678,110.79- 97.548 91,845.21- 42,244.86- Investment Income 12,000.00- 8,997.04- 74.975 3,002.96- 1,943.94- Total Revenues 2,781,956.00- 2,687,107.83- 97.450 94,848.17- 44,188.80- Appropriations Bonds 2,556,482.00 1,542,291.87 60.340 1,014,190.13 Interfund Transfers Out Total Appropriations 2,556,482.00 1,542,291.87 60.340 1,014,190.13 Revenue Over/(Under) Approp 225,474.00- 1,144,815.96- 518.211 919,341.96 44,188.80- INTERNAL SERVICE FUND Revenue Charges for Services 17,625.00- 17,625.00 2,925.00- Interest Income 500.00- 445.49- 89.098 54.51- 74.24- Interfund Transfers In 81,800.00- 7,915.02- 11.628 73,884.98- 1,596.67- Total Revenues 82,300.00- 25,985.51- 37.068 56,314.49- 4,595.91- Appropriations Personnel 50,000.00 28,145.68 73.982 21,854.32 4,785.42 Total Appropriations 50,000.00 28,145.68 73.982 21,854.32 4,785.42 Revenue Over/(Under) Approp 32,300.00- 2,160.17 -20.073 34,460.17- 189.51 . gluser_r&a2 lheikkinen Town of Prosper Page 4 09:03 05/06/13 Rev/Exp Fund Category Rept (3) Fund: Period Ending: 3/2013 Account Number Description Current Current Percent YTD Current Current Year YTD % Remaining Month Adopted Actual Budget Actual STORM DRAINAGE FUND Revenues Storm Drainage Utility Fee 208,000.00- 109,029.69- 61.330 98,970.31- 18,424.31- Total Investment Income 1,000.00- 1,358.75- 135.875 358.75 219.36- Total Miscellaneous Total Revenues 209,000.00- 110,388.44- 61.686 98,611.56- 18,643.67- Appropriations Total Personnel 42,715.00 14,454.23 37.742 28,260.77 2,835.34 Materials & Supplies 12,550.00 1,431.91 12.794 11,118.09 912.68 Town Services/Maintenance 4,900.00 413.68 13.137 4,486.32 75.22 Total Professional Services 450.00 2,173.75 497.851 1,723.75- Total Contract Services 58,000.00 58,000.00 Total Capital 116,918.00 73,128.00 62.546 43,790.00 Total Interfund Transfer Out 12,780.00 6,270.00 57.238 6,510.00 1,045.00 Total Appropriations 248,313.00 97,871.57 40.696 150,441.43 4,868.24 Total Revenue Over/(under) App 39,313.00 12,516.87- -70.894 51,829.87 13,775.43- PARKS FUND Revenue Investment Income 3,800.00- 936.64- 24.648 2,863.36- 260.37- Park Fees 125,000.00- 175,604.00- 213.139 50,604.00 Total Revenues 128,800.00- 176,540.64- 207.578 47,740.64 260.37- Appropriations (Parks) Contractual / Professional Ser 1,620,000.00 18,031.25 8.063 1,601,968.75 50.59 . gluser_r&a2 lheikkinen Town of Prosper Page 5 09:03 05/06/13 Rev/Exp Fund Category Rept (3) Fund: Period Ending: 3/2013 Account Number Description Current Current Percent YTD Current Current Year YTD % Remaining Month Adopted Actual Budget Actual Total Appropriations 1,620,000.00 18,031.25 8.063 1,601,968.75 50.59 Revenue Over/(Under) Approp 1,491,200.00 158,509.39- -9.170 1,649,709.39 209.78- . gluser_r&a2 lheikkinen Town of Prosper Page 6 09:03 05/06/13 Rev/Exp Fund Category Rept (3) Fund: Period Ending: 3/2013 Account Number Description Current Current Percent YTD Current Current Year YTD % Remaining Month Adopted Actual Budget Actual IMPACT FEES FUND Revenue Investment Income 20,000.00- 20,887.31- 104.437 887.31 3,962.32- Impact Fees 2,600,000.00- 869,979.75- 41.186 1,730,020.25- 106,171.00- Total Revenues 2,620,000.00- 890,867.06- 41.669 1,729,132.94- 110,133.32- Appropriations Contractual/Professional Servi 1,535,000.00 53,473.68 9.413 1,481,526.32 10,382.11 Capital 4,628,000.00 114,292.00 2.470 4,513,708.00 43,290.00 Interfund Transfers Out Total Appropriations 6,163,000.00 167,765.68 4.199 5,995,234.32 53,672.11 Revenue Over/(Under) Approp 3,543,000.00 723,101.38- -23.509 4,266,101.38 56,461.21- SPECIAL REVENUE DONATION FUND Revenue Court Fees 6,900.00- 3,245.20- 60.812 3,654.80- 786.42- Contributions 43,500.00- 22,098.75- 61.596 21,401.25- 1,664.00- Escrow Income 3,893,969.47- 3,893,969.47 1,663.00- Grants 2,000.00- 2,000.00- Miscellaneous Total Revenues 52,400.00- 3,919,313.42- 7,662.159 3,866,913.42 4,113.42- . gluser_r&a2 lheikkinen Town of Prosper Page 7 09:03 05/06/13 Rev/Exp Fund Category Rept (3) Fund: Period Ending: 3/2013 Account Number Description Current Current Percent YTD Current Current Year YTD % Remaining Month Adopted Actual Budget Actual Appropriations (Sp. Rev.) Town Services/Maintenance 59,200.00 4,620,528.83 8,191.463 4,561,328.83- 1,379,407.93 Total Appropriations 59,200.00 4,620,528.83 8,191.463 4,561,328.83- 1,379,407.93 Revenue Over/(Under) Approp 6,800.00 701,215.41 ############### 694,415.41- 1,375,294.51 CAPITAL PROJECTS FUND Revenue Grants/Reimbursements 235,000.00- 235,000.00- Investment Income 7,000.00- 17,508.03- 250.115 10,508.03 1,852.18- Interfund Transfers In Bond Proceeds 3,880,000.00- 3,880,000.00 Total Revenue 242,000.00- 3,897,508.03- 1,610.541 3,655,508.03 1,852.18- Appropriations Contractual/Professional Servi 101,085.00 61,912.52 69.181 39,172.48 7,923.66 Capital 4,400,000.00 7,083,701.44 189.570 2,683,701.44- 565,145.70 Bond Costs 23,579.01 23,579.01- Total Interfund Transfers Out Total Appropriations 4,501,085.00 7,169,192.97 187.390 2,668,107.97- 573,069.36 Revenue Over/(Under) Approp 4,259,085.00 3,271,684.94 106.527 987,400.06 571,217.18 . gluser_r&a2 lheikkinen Town of Prosper Page 8 09:03 05/06/13 Rev/Exp Fund Category Rept (3) Fund: Period Ending: 3/2013 Account Number Description Current Current Percent YTD Current Current Year YTD % Remaining Month Adopted Actual Budget Actual ECONOMIC DEVELOPMENT CORP Revenues Sales Tax 466,667.00- 381,991.43- 93.766 84,675.57- 47,596.83- Investment Income 20,000.00- 11,127.92- 55.640 8,872.08- 1,582.61- Other Income 31.29- 31.29 Total Revenues 486,667.00- 393,150.64- 92.205 93,516.36- 49,179.44- Appropriations Personnel 204,475.00 95,818.03 54.756 108,656.97 16,097.02 Maintenance & Supplies 7,000.00 1,774.81 28.083 5,225.19 85.47 Town Services/Maintenance 38,200.00 31,591.42 126.797 6,608.58 18,942.81 Contractual/Professional Servi 93,900.00 62,079.26 70.435 31,820.74 17,526.39 Capital 104,000.00 500,000.00 480.769 396,000.00- Interfund Transfer Out 405.00 405.00 Total Appropriations 447,980.00 691,263.52 162.620 243,283.52- 52,651.69 Revenue Over/(under) Approp 38,687.00- 298,112.88 -723.164 336,799.88- 3,472.25 Page 1 of 4 To: Mayor and Town Council From: Chris Copple, AICP, Director of Development Services Cc: Harlan Jefferson, Town Manager Hulon T. Webb, Jr., P.E., Executive Director of Development and Community Services Re: Town Council Meeting – May 14, 2013 Date: May 6, 2013 Agenda Item: A Public Hearing to consider and act upon a request to rezone 0.3± acre, located on the north side of First Street, 1,500± feet east of Legacy Drive from Agricultural (A) to Planned Development-Agricultural (PD-A). (Z12-0004). Description of Agenda Item: The zoning and land use of the surrounding properties are as follows: Zoning Current Land Use Future Land Use Plan North Agricultural Undeveloped (Existing Single Family Home owned by applicant) Floodplain/Low Density Residential East Agricultural Undeveloped Floodplain South Retail and Agricultural Undeveloped Tollway District West Agricultural Undeveloped Floodplain Requested Zoning – Z12-0004 is a request to rezone 0.3± acre, located on the north side of First Street, 1,500± feet east of Legacy Drive from Agricultural (A) to Planned Development- Agricultural. In addition to the uses typically permitted in the Agricultural (A) District, the proposed Planned Development (PD) District allows for the construction of a Commercial Antenna and/or Antenna Support Structure with a maximum height of 120 feet and an equipment shelter with a height of 11 feet. The PD proposes the Commercial Antenna and/or Antenna Support Structure be permitted by right for a period of 10 years after the adoption of Prosper is a place where everyone matters. PLANNING Item 7 Page 2 of 4 the ordinance. At the end of the 10-year period, a Specific Use Permit (SUP) shall be required in order to continue the use. The applicant is proposing to screen the equipment area with an 8- foot brick wall and landscaping as shown on Exhibits D, F and G. Town staff has compared the proposed PD standards to the A district in the table below. Proposed PD-A A Min. Lot Area 10,000 square feet 2 acres Min. Lot Width 30 feet 200 feet Min. Lot Depth 60 feet 200 feet Min. Dwelling Area 1,800 square feet 1,800 square feet Front Yard Setback 25 feet 40 feet Side Yard Setback 6 feet 20 feet, 25 feet on corner lots adjacent to a side street Rear Yard Setback 6 feet 20 feet Maximum Height 120 feet 40 feet The PD proposes reductions to the minimum lot dimensions and setbacks in the Agricultural District and proposes a maximum height of 120 feet for the Commercial Antenna Structure, which exceeds the maximum height of 40 feet in the Agricultural District. Future Land Use Plan – The Future Land Use Plan (FLUP) recommends Tollway District uses for the property, which is intended for a mix of office, retail, and residential uses. The property is adjacent to property designated for Floodplain and Low Density Residential uses. Thoroughfare Plan – The property is adjacent to First Street, a future four-lane divided thoroughfare. The zoning exhibit complies with the Thoroughfare Plan. Water and Sanitary Sewer Services – Water and sanitary sewer service have not been extended to the property. Access – Access to the property is provided from First Street. Schools – This property is located within the Prosper Independent School District. Parks – It is not anticipated that this property will be needed for the development of a park at this time. The Parks Master Plan does show a future hike & bike trail located in the floodplain area north of the subject property. Environmental Considerations – The 100-year floodplain located on the property is shown on Exhibit A. Item 7 Page 3 of 4 Summary – The applicant has drafted a PD to specifically allow for the construction of a Commercial Antenna and/or Antenna Support Structure with a maximum height of 120 feet in the Agricultural (A) District. The area north of First Street is planned for future single family residential development and retail/neighborhood services to serve those residents. The maximum height of the zoning districts in this area is 40 feet. Due to the nature and low density of the future development in this area, a 120-foot tall Commercial Antenna and/or Antenna Support Structure is not appropriate on this property. Budget Impact: There are no significant budget implications associated with the approval of this zoning request. Legal Obligations and Review: Zoning is discretionary. Therefore, the Town Council is not obligated to approve the request. Notification was provided to neighboring property owners as required by state law. Town staff has received three public hearing notice reply forms, with two being in opposition to the request. The two public hearing notice reply forms in opposition to the request represent more than 20% of the 200-foot buffer area surrounding the subject property. Therefore, the affirmative vote of at least three-fourths of all Town Council members (six votes) is required to approve the zoning request. Attached Documents: 1. Zoning Exhibits A, B, C, D, E, F, and G. 2. Zoning maps of the surrounding area. 3. Future Land Use Plan. 4. Public hearing notice reply forms. 5. Letter dated January 28, 2013, with additional information as provided by the applicant. Planning & Zoning Commission Recommendation: On January 15, 2013, the Planning & Zoning Commission held a public hearing and discussed the proposed zoning request. After the public hearing was closed, the Planning & Zoning Commission tabled the item to allow the applicant to provide additional information, discuss the zoning request with surrounding property owners, and consider revising the proposed development standards. On January 28, 2013, the applicant provided a letter to the Planning & Zoning Commission, requesting the Planning & Zoning Commission approve the PD-A zoning request as submitted, subject to revising the maximum height of the pole to 100 feet. The applicant also provided information regarding the height of the antennas located in the Home Depot parking lot in Frisco, in the Artesia community in Denton County, and on the Prosper Elevated Water Storage Tank on First Street. The applicant’s letter and additional information are attached for review by the Town Council. At the February 5, 2013, meeting, the Planning & Zoning Commission tabled the item to allow the applicant to continue discussing the zoning request with surrounding property owners and to consider revising the proposed development standards Without any additional changes to the zoning request, the applicant requested the Planning & Zoning Commission approve or deny the zoning request at their April 2, 2013, meeting. At their April 2, 2013, meeting, the Planning & Zoning Commission recommended the Town Council deny the request to rezone 0.3± acre, located on the north side of First Street, 1,500± feet east of Legacy Drive from Agricultural (A) to Planned Development-Agricultural (PD-A), by a vote of 5-1. Item 7 Page 4 of 4 Town Staff Recommendation: Town staff recommends the Town Council deny the request to rezone 0.3± acre, located on the north side of First Street, 1,500± feet east of Legacy Drive from Agricultural (A) to Planned Development-Agricultural (PD-A). Motion: I move to deny the request to rezone 0.3± acre, located on the north side of First Street, 1,500± feet east of Legacy Drive from Agricultural (A) to Planned Development- Agricultural (PD-A). Item 7 EXHIBIT ACOLLIN COUNTY SCHOOLLAND SURVEYABSTRACT NO. 147OWNER: NICKEY SHEETS 2066 WEST FIRST PROSPER, TX 75078APPLICANT: VERIZON WIRELESS 500 W DOVE ROAD SOUTHLAKE, TX 76092SURVEYOR: WEBB SURVEYING, INC. 6313 PRESTON ROAD, SUITE 200 PLANO, TX 75024GROSS ACREAGE: .2539 (11,060 SF)NET FOR USE: .0826 (3,600 SF)ZONING FILE NO. Z12-0004REVISED: December 12, 2012Item 7 EXHIBIT B Planned Development District for Antenna-Commercial and Agricultural uses The Town of Prosper is the fastest or near fastest growing town in the Metroplex. In order to continue to provide mobile telephone service in the quality necessary to adequately serve the citizens of Prosper Verizon Wireless must upgrade its facilities to keep up with the growth of the community. Verizon Wireless provides wireless service to the area and does it in a manner that is least disrupting to the community as possible. Antennas must be elevated to work. In order to work properly the antennas must be at a height that serves the area and works in conjunction with its other facilities. Antennas are located on existing structures when structures are available. Those structures include electrical transmission towers, multi- story buildings and light structures. Locations that need service but do not have existing structures require the construction of a structure for the antennas. Verizon Wireless uses stealth structures when possible. The Town of Prosper has defined stealth structures. The current least high profile type antenna structure is the streamline pole. The antennas are internal to the structure. Most people do not realize that these poles are actually cellular antennas. The streamline pole is planned for this location. It is a commercial antenna in the town's code. We are requesting the commercial antenna use because we believe that it will be the least intrusive and noticeable. This property will contain a brick wall that will surround the antenna structure and the equipment shelter. The area that will contain the wall, equipment and pole will be a sixty feet by sixty feet space. The space will include Nellie R. Stevens Holly in front of a solid brick wall that will enclose the compound. A solid gate will provide access on the east side. The site plan is attached. All setbacks and height in this Planned Development District will be per the site plan. The maximum height of the antenna pole will be one hundred twenty (120) feet. The pole will be the same Town color (Prosper Brown) as the most recently constructed elevated water storage tank. The equipment shelter will be a maximum of eleven (11) feet in height and the wall surrounding the site will be eight (8) feet in height. Setbacks will be as shown on the site plan. The site will be platted after approval of the zoning request and will provide for the dedication of property for the section of First Street in front of the property. In order to lessen the impact of the antenna installation on the area we propose the Planned Development District with conditions provided in Exhibit C. Generally, a stealth object is one that is not recognized as the object that it really is and provides the same service as an object that is not designed to disguise the function. The town has determined that the stream line monopole is a commercial antenna. We are requesting a zoning change to a Planned Development that will provide a needed structure that will be designed so as to not have the appearance of a typical mobile telephone antenna. Item 7 Exhibit C Planned Development Standards This tract shall develop under the regulations of the Agricultural (A) District as outlined in the Town's Zoning Ordinance No. 05-20, as it exists or may be amended, with the following conditions: Uses: 1. All uses permitted in the Agricultural District as it exists or may be amended. 2. Antenna and/or Antenna Support Structure, Commercial as shown in Exhibit F is permitted by right for a period of ten (10) years after the adoption date of this Planned Development ordinance. At the end of this 10 year period, a Specific Use Permit (SUP) shall be required in order for the use to continue. If a SUP is not granted by the Town Council, the Commercial Antenna and/or Antenna Support Structure and all associated equipment shall be removed from the property within six (6) months. Development Standards: Minimum lot size: 10,000 square feet Minimum setbacks: front: 25 feet side: 6 feet rear: 6 feet Maximum height: antenna pole: 120 feet buildings: 11 feet Minimum lot frontage: None on existing Right of Way. First Street right of way to be dedicated as required by thoroughfare plan at time of platting. Minimum lot width on new dedicated right of way for west First Street: 30 feet Minimum lot depth: 60 feet Coverage: maximum 10% Screening wall: a brick screening wall a minimum of 8 feet in height around telecommunications equipment and pole. Landscaping will be as shown on Exhibit G (landscape plan). Landscaping to include 4" caliper Cedar Elm at each corner and at least one on each side of compound. Nellie R. Stevens Holly to be 30 gallon containers with plants at least six (6) feet in height planted on 48" centers as shown on landscape plan. Signs: No signs shall be permitted except those required by Federal, State and Town governments. Item 7 Item 7 Item 7 Item 7 Item 7 M SF I BP C A C A SF C A C CC SF-10/12.5 C O R CC R SF-15 BC C CC R O R SF-12.5 A O/I C MF CC AA CC R/C/O CC DTCCC SF-10 CC CC CC C SF-15 CC SF-10 SF-15 CC C SF-15 CC C A A A SF-15 W FIRST ST FISHTRAP RDARTESIA BLVDN DALLAS PKWYS DALLAS PKWYHARPER RDN LEGACY DRS LEGACY DRPLUM CT B E N B R OOK B L V D P A LESTINE DRTEXOMA TRLWHIT E R O C K B L V D TAHOE TRLN A C O NA DRJ E WEEMS BLVDMEDINA LNJENNINGS CTBUSINESS PARK DRTOL E D O B E N D C T CROSSLAKE CT ALVA R A D O DR STILLHOUSE HOLLOW CT CORONA CTT OW N O F P RO S P E RT OW N O F P RO S P E R ¶The Town of Prosper has prepared this map or information forinternal purposes only. It is made available under the PublicInformation Act. Any reliance on this map or informationis AT YOUR OWN RISK. The Town of Prosper assumes no made, action taken, or action not taken in reliance upon any maps or information provided herein. The Town of Prosper makes no warranty, representation, or guarantee of any kind regarding any maps or information provided herein or the sources of such maps or information and DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES, EXPRESSED AND IMPLIED, including the implied DISCLAIMER liability for any errors, omissions, or inaccuracies in the map orinformation regardless of the cause of such or for any decision warranties of merchantability and fitness for a particular purpose. Z12-0004: 2066 W. First St. Legend Prepared 1/11/13 0 2,000 4,0001,000 Feet StreamsFloodplain Approximate Locationof Proposed Antenna Item 7 Z12-0004A R C SF-10/12.5PD-23 SF-10/12.5PD-23 W FIRST ST 0 50 100 150 Feet 1 inch = 100 feet Item 7 Z 0 0.5 1 1.50.25 Miles Plate 2 FutureLand UsePlan July 2012 kj kj kj kj kj kj kj kj kj kj kj kj kjkj kj Parvin Rd.F.M. 1385GeeFish Trap Rd. U.S. 380 Dallas North TollwayProsper Trail First St.La Cima Blvd. Frontier Pkwy.Preston Rd.Coit Rd.F.M. 1461 F.M. 2478F.M. 2478Custer Rd.F.M. 423Teel Pkwy.Legacy Dr.Legacy Dr.Virginia Pkwy.BNSF RRS. ColemanN. ColemanLovers Ln Hays RdLegend Low Density Residential Medium Density Residential High Density Residential Retail & Neighborhood Services Business Park Old Town District Town Center Tollway District US 380 District 100 Year Floodplain kjMajor Gateway kj Minor Gateway Town of Prosper ETJ Note: A comprehensive plan shall not constitute zoning regulations or establish zoning district boundaries. Item 7 DEVELOPMENT SERVICES DEPARTMENT P.O. Box 307 Prosper, TX 75078 Phone: 972-346-3502 Fax: 972-347-2842 Prosper is a place where everyone matters. TOWN OF SPER REPLY FORM SUBJECT: Zoning Case Z12-0004: The Town of Prosper has received a request to rezone 0.3± acre from Agricultural (A) to Planned Development-Agricultural (PD-A). LOCATION OF SUBJECT PROPERTY: The property is located on the north side of First Street, 1,500± feet east of Legacy Drive. DESCRIPTION OF THE REQUEST: In addition to permitted Agricultural uses, the proposed Planned Development request allows for the construction of a commercial antenna and/or antenna support structure with a maximum height of one hundred and twenty (120) feet, an equipment shelter with a height of eleven (11) feet, and a brick screening wall surrounding the site with minimum height of eight (8) feet. tz( I OPPOSE the request as described in the notice of public hearing. q I DO NOT OPPOSE the request as described in the notice of public hearing. COMMENTS (ATTACH ADDITIONAL SHEETS IF NECESSARY): LIE f5t.AcA Ti-LAT TH 6 --Npe, OF Fp,e,m-r./ (zodt...9 17,6 tsvatrz- cwki-ro FbI2- A Ace -eA. TAA:1" IS Qtr[ PL.46.4►ILD AS A. F,..t1A-ME 'R.-ES ID* 'kr' Xt, on...Apcilvt t-r'r , StAti7P bc..46 9r As. ALLoo Name (please print) LAAM, Sig re 80co PAizkvuAi GLIM- loo o /2013 Address Date Fg-te2uo Tic 75o t.I City, State, and Zip Code 621Aier ot(ta C-00 6,15. Aeh E-mail Address Item 7 DEVELOPMENT SERVICES DEPARTMENT P.O. Box 307 Prosper, TX 75078 Phone: 972-346-3502 Fax: 972-347-2842 Prosper is a place where everyone matters. TOWN OF SPER Signature REPLY FORM SUBJECT: Zoning Case Z12-0004: The Town of Prosper has received a request to rezone 0.3± acre from Agricultural (A) to Planned Development-Agricultural (PD -A). LOCATION OF SUBJECT PROPERTY: The property is located on the north side of First Street, 1,500± feet east of Legacy Drive. DESCRIPTION OF THE REQUEST: In addition to permitted Agricultural uses, the proposed Planned Development request allows for the construction of a commercial antenna and/or antenna support structure with a maximum height of one hundred and twenty (120) feet, an equipment shelter with a height of eleven (11) feet, and a brick screening wall surrounding the site with minimum height of eight (8) feet. , I OPPOSE the request as described in the notice of public hearing. q I DO NOT OPPOSE the request as described in the notice of public COMMENTS (ATTACH ADDITIONAL SHEETS IF NECESSARY): C.)-b 6 • -15 0,-I 5 % c. n41-1 A.-3T) 6-7-- "I-Z:, hearing. Ot,-'1--) el\-- CRP(),iz--5 \ tt *.A-6-14.- r-L30.-v--0,5 . 4 t.k P0,31) Name (please print) I ci 00(006 tsry Address SQ VC) 1 \,'1 113 Date 1)1\ c- \c‘ k,A3\i 7sTo- 3ED, Co City, State, State, and Zip Code 7 E-mail Address Item 7 DEVELOPMENT SERVICES DEPARTMENT P.O. Box 307 Prosper, TX 75078 Phone: 972-346-3502 Fax: 972-347-2842 Prosper is a place where everyone matters. I 1 TOWN OF SPER REPLY FORM SUBJECT: Zoning Case Z12-0004: The Town of Prosper has received a request to rezone 0.3± acre from Agricultural (A) to Planned Development-Agricultural (PD-A). LOCATION OF SUBJECT PROPERTY: The property is located on the north side of First Street, 1,500± feet east of Legacy Drive. DESCRIPTION OF THE REQUEST: In addition to permitted Agricultural uses, the proposed Planned Development request allows for the construction of a commercial antenna and/or antenna support structure with a maximum height of one hundred and twenty (120) feet, an equipment shelter with a height of eleven (11) feet, and a brick screening wall surrounding the site with minimum height of eight (8) feet. q I OPPOSE the I DO NOT OPPOSE COMME ' \ request as described in the notice of public hearing. the request as described in the notice of public hearing. TTACH ADDITIONAL S IF NECESSARY): ;TS (Iv— ' n cru,/ C c\,c— -;(:3 f\ Name (pleas print) r \N Signature \o Date Address Os _A -( \-(\ 2> City, Staf , and Zip Code E-mail Address CO(Y- \CVN( Item 7 Item 7 Item 7 Item 7 Item 7 Page 1 of 2 To: Mayor and Town Council From: Robyn Battle, Town Secretary Cc: Harlan Jefferson, Town Manager Re: Town Council Meeting – May 14, 2013 Date: May 7, 2013 Agenda Item: Consider and act upon Resolution No. 13-29 to protect and defend the Second Amendment constitutional right to keep and bear arms. Description of Agenda Item: This item was brought forward by a Town Council member at the April 9, 2013, Council meeting as a result of the recent adoption of a similar Resolution by the City of Rockwall, Texas, as well as several communities across the nation. Staff was directed to place the item on a future agenda as a discussion item. The item was placed on the April 23, 2013, Town Council agenda and four citizens offered public comment in support of Council adopting a Resolution. No action was taken; however, staff was directed to present the Resolution as an action item at the May 14, 2013, Town Council meeting. The intent of this Resolution is to reaffirm the Prosper Town Council’s support of the Second Amendment of the Constitution of the United States, which protects “…the right of the people to keep and bear arms…”. A concern was raised during Council’s discussion about whether the wording in the proposed Resolution would conflict with the Texas penal code, or any other state or federal law, and might create a conflict with local law enforcement. Town staff was directed to ensure that any Resolution brought forward for approval resolved any potential conflicts. Legal Obligations and Review: The Town Attorney has reviewed the proposed Resolution and has suggested revisions. To address the concerns raised over the possible conflict with the Texas penal code, or other state or federal law, the wording of Section 3 has been changed to read “except as otherwise provided by law.” Including this statement is recommended because the Town is acknowledging that there are rules that do apply. Attached Documents: 1. Proposed Resolution 13-29 affirming the Second Amendment right to keep and bear arms 2. Revised Resolution – Town Attorney’s Red-Line Version 3. City of Rockwall Resolution No. 13-09, and Minutes from the March 4, 2013, City of Rockwall Council meeting Prosper is a place where everyone matters. ADMINISTRATION Item 8 Page 2 of 2 Town Staff Recommendation: Town staff recommends that the Town Council take action on the Resolution. Item 8 TOWN OF PROSPER, TEXAS RESOLUTION NO. 13-29 A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS, TO PROTECT AND DEFEND THE CONSTITUTIONAL RIGHT TO KEEP AND BEAR ARMS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, a government of, by, and for the people has long been a cherished American value and the foundation of our freedom; and We The People's fundamental and inalienable right to self-govern, and thereby secure rights to life, liberty, property, and the pursuit of happiness is guaranteed in the U.S. Constitution and the Declaration of Independence; and, WHEREAS, the Second Amendment to the United States Constitution provides: "A well regulated militia being necessary to the security of a free state, the right of the people to keep and bear arms shall not be infringed"; and, WHEREAS, the Ninth Amendment to the United States Constitution provides: 'The enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people"; and, WHEREAS, the Tenth Amendment to the United States Constitution provides: "The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people,"; and, WHEREAS, the Texas Constitution, Article 1 Section 23a declares: "Every citizen shall have the right to keep and bear arms in the lawful defense of himself or the State," in which we should uphold; and, WHEREAS, the Texas Constitution, Article 1 Section 29 declares: "PROVISIONS OF BILL OF RIGHTS EXCEPTED FROM POWERS OF GOVERNMENT; TO FOREVER REMAIN INVIOLATE to guard against transgressions of the high powers herein delegated, we declare that everything in this "Bill of Rights" is excepted out of the general powers of government, and shall forever remain inviolate, and all laws contrary thereto, or to the following provisions, shall be void”; and, WHEREAS, the citizens of Prosper, Texas recognize their duty as law-abiding citizens to act in accordance with the U.S. Constitution and the Texas Constitution, and agree that the right to keep and bear arms shall not be infringed upon by any government or organization, political or otherwise. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS: Section 1. The citizen's representatives, Town Council and Mayor of Prosper, Texas, hereby call upon our President, our U.S. Senators from the State of Texas, our U.S. Congressman from the State of Texas, our state legislators and local elected officials to join with us in the affirmation of the rights of our citizens under the Second Amendment. Section 2. The Town Council declares its belief that Federal acts, laws, executive orders, Item 8 2 agency regulations, and rules which may be enacted with the purpose, intent, or effect of;  confiscating firearms,  banning firearms,  limiting the size of a magazine for firearms,  imposing any limit on the ammunition that may be purchased for firearms,  special taxing firearms or ammunition, and  requiring the registration of firearms or ammunition therefore, infringes upon Texans' right to bear arms in direct violation of the Second Amendment to the Constitution of the United States, and Article 1, Section 23a of the Texas Constitution and, therefore, any such law is not authorized by the Constitution; except as provided for under the Texas penal code, and the Constitution is the supreme law of the land. Section 3. The Town of Prosper, State of Texas, strongly supports our citizens' right to bear arms under the Second Amendment and does not support any law that would deprive any citizen of the rights guaranteed and protected under the U.S. Constitution, Bill of Rights, and the Texas Constitution. We urge the Congress of the United States to monitor and defend against any infringement of these rights. Section 4. The Town of Prosper, State of Texas, calls on other communities and jurisdictions to join with us in this action by passing similar Resolutions. Section 5. That copies of this Resolution be immediately transmitted to the President of the United States; the President of the United States Senate; each member of the United States Senate from Texas; each member of Congress from the State of Texas; the Attorney General of the State of Texas; the Governor of the State of Texas; the President of the Senate and the Speaker of the House of Representatives of Texas' legislature; each individual legislator that represents our district in the state of Texas; the Sheriff of Denton County; the Sheriff of Collin County; and the Chief of the Prosper Police Department. Section 6. This Resolution shall become effective immediately upon its passage. DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS, ON THIS THE 14TH DAY OF MAY, 2013. APPROVED: Ray Smith, Mayor ATTEST: Robyn Battle, Town Secretary Item 8 Resolution No. 13-___ (2nd Amendment) Page 1 of 3 627208.1 TOWN OF PROSPER, TEXAS RESOLUTION NO. 13-29 A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS, DESIRING TO PROTECT RECOGNIZE AND DEFEND AFFIRM THE CONSTITUTIONAL RIGHT TO KEEP AND BEAR ARMS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, a government of, by, and for the people has long been a cherished American value and the foundation of our freedom; and We The People's fundamental and inalienable right to self-govern, and thereby secure rights to life, liberty, property, and the pursuit of happiness is guaranteed in the U.S. Constitution and the Declaration of Independence, and; WHEREAS, the Second Amendment to the United States Constitution provides:, “"A well- regulated militia, being necessary to the security of a free state, the right of the people to keep and bear arms, shall not be infringed” (“Second Amendment.”); and WHEREAS, the Ninth Amendment to the United States Constitution provides, “The enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people;” and WHEREAS, the Tenth Amendment to the United States Constitution provides, “The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people;” and WHEREAS, the Texas Constitution, Article 1, Section 23a statesdeclares:, “ "Every citizen shall have the right to keep and bear arms in the lawful defense of himself or the State,”State…;”" in which we should uphold; and WHEREAS, the Texas Constitution, Article 1 Section 29 declares: "PROVISIONS OF BILL OF RIGHTS EXCEPTED FROM POWERS OF GOVERNMENT; TO FOREVER REMAIN INVIOLATE To guard against transgressions of the high powers herein delegated, we declare that everything in this "Bill of Rights" is excepted out of the general powers of government, and shall forever remain inviolate, and all laws contrary thereto, or to the following provisions, shall be void." and; WHEREAS, the Town Council of the Town of Prosper, Texas (“Town Council”) has investigated and determined that it is in the best interest of the citizens of Prosper to , Texas recognize and affirm their duty as law-abiding citizens to act in accordance with the U.S. Constitution and the Texas Constitution, and agree that the right to keep and bear arms shall not be infringed upon by any government or organization, political or otherwise. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS: Item 8 Resolution No. 13-___ (2nd Amendment) Page 2 of 3 627208.1 Section 1. Findings Incorporated. The findings set forth above are incorporated into the body of this Ordinance as if fully set forth herein. Section 2. The citizen's representatives, Mayor of Prosper and Town Council and Mayor of Prosper, Texas hereby call upon our President, our U.S. Senators from the State of Texas, our U.S. Congressman from the State of Texas, our state legislators and local elected officials to join with us in the affirmation of the rights of our citizens under the Second Amendment. Section 23. The Town Council declares its belief that Federal acts, laws, executive orders, agency regulations, and rules which may be enacted with the purpose, intent, or effect of:;  confiscating firearms,  banning firearms,  limiting the size of a magazine for firearms,  imposing any limit on the ammunition that may be purchased for firearms,  special taxing firearms or ammunition, and/or,  requiring the registration of firearms or ammunition therefore, infringes upon Texans' right to bear arms in direct violation of the Second Amendment to the Constitution of the United States, and Article 1, Section 23a of the Texas Constitution, and, therefore, any such law is not authorized by the Constitution,; except as provided for under the Texas penal code, and the Constitution is the supreme law of the land.except as otherwise provided by law. Section 43. The City of Prosper, State of TexasProsper strongly supports our citizens'’ right to bear arms under the Second Amendment and does not support any law that would deprive any citizen of the rights guaranteed and protected under the U.S. Constitution, Bill of Rights or, the Texas Constitution. We urgeThe Town Council urges the Congress of the United States to monitor and defend against any infringement of these rights. Section 54. The Town of ProsperCouncil, State of Texas calls on other communities and jurisdictions to join with us in this action by passing similar rResolutions. Section 56. That Tthe Town Council requests that copies of this Resolution be immediately transmitted to the President of the United States; the President of the United States Senate; each member of the United States Senate from Texas; each member of Congress from the State of Texas; the Attorney General of the State of Texas; the Governor of the State of Texas; the President of the Senate and the Speaker of the House of Representatives of Texas' legislature; each individual legislator that represents our district in the state of Texas; the Sheriff of Denton County; the Sheriff of Collin County; and the Chief of the Prosper Police Department. Section 76. . This Resolution shall become effective immediately upon its passage. Item 8 Resolution No. 13-___ (2nd Amendment) Page 3 of 3 627208.1 DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS, ON THIS THE 14TH DAY OF MAY, 2013. APPROVED: ____________________________ Ray Smith, Mayor ATTEST: Robyn Battle, Town Secretary Item 8 Item 8 Item 8 Item 8 Item 8 Page 1 of 2 To: Mayor and Town Council From: Harlan Jefferson, Town Manager Re: Town Council Meeting – May 14, 2013 Date: May 8, 2013 Agenda Item: Consider and take action to adopt Ordinance No.13-30 approving the final Project and Financing Plan for the Town of Prosper Tax Increment Financing Reinvestment Zone Number Two (TIRZ No. 2). Description of Agenda Item: On December 31, 2012, the Town Council approved a Development and Financing Agreement with MSW PROSPER 380 LP, a limited partnership, for the reimbursement of the cost of construction of public infrastructure to be constructed within TIRZ No. 2. At that time, a Preliminary Project and Financing Plan was presented with the full expectation that a final plan would be approved at a later date. On January 22, 2013, the Town Council adopted Ordinance 13-04 designating TIRZ No. 2 to promote the development or redevelopment of the area. On May 14, 2013, the TIRZ No. 2 Board of Directors met to review and consider approving the final Project and Financing Plan. The Town Council is being asked to approve the final Project and Financing Plan now in order for the Collin County Commissioner’s Court to consider participating in the TIRZ No. 2 at their June 3, 2013, meeting. We submitted an application for Collin County participation in the TIRZ No. 2 which included an Inter-Local Cooperation Agreement. Budget Impact: TOWN REVENUES (GENERATED ONLY FROM WITHIN THE TIRZ NO. 2) AND CONTRIBUTED TO TAX INCREMENT FUND  70% of real property ad valorem taxes in the TIRZ No. 2  100% of real property ad valorem taxes in the TIRZ No. 2 attributable to “rollback” taxes  25% of municipal sales tax generated in the TIRZ No. 2  50% of the one-half of one percent (0.5%) municipal sales and use tax imposed pursuant to the Development Corporation Act on behalf of the Prosper Economic Development Corporation and generated within the TIRZ No. 2  Up to 50% of Collin County’s ad valorem taxes in the TIRZ No. 2 or a lesser participation, if any  380 Construction Sales Office Revenue TERM OF TIRZ NO 2: 25 Years Prosper is a place where everyone matters. ADMINISTRATION Item 9 Page 2 of 2 On December 31, 2012, the Town Council approved by Contract 511 a Development and Financing Agreement with MSW Prosper 380, LP, which outlined in considerable detail the development intended to be created within the TIRZ No. 2, including but not limited to public and private infrastructure; private development; and timelines related thereto. The final Project and Financing Plan attached as an Exhibit to the proposed Ordinance provides a detailed accounting and verification of the economic benefit(s) associated with the creation of the TIRZ No. 2 and the associated dedicated tax revenues from the Town to fund the public-private partnership. Legal Obligations and Review: Attorney Pete Smith drafted the proposed Ordinance. Attached Documents: 1. Draft Ordinance 13-30 approving the TIRZ No. 2 final Project and Financing Plan 2. Inter-Local Cooperation Agreement for Participation in Prosper TIRZ No. 2 Town Staff Recommendation: Town staff recommends the Town Council adopt the attached ordinance approving the final Project and Financing Plan for the Town of Prosper Tax Increment Financing Reinvestment Zone Number Two. Item 9 TOWN OF PROSPER ORDINANCE NO. 13-30 AN ORDINANCE OF THE TOWN OF PROSPER, TEXAS, APPROVING A FINAL PROJECT AND FINANCING PLAN FOR TAX INCREMENT FINANCING REINVESTMENT ZONE NUMBER TWO, TOWN OF PROSPER, TEXAS; PROVIDING A REPEALING CLAUSE; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, on January 22, 2013, the Town Council adopted Ordinance 13-04 designating Tax Increment Financing Reinvestment Zone Number Two, Town of Prosper, Texas, (“TIRZ Number Two”), to promote the development or redevelopment of the area, as authorized by the Tax Increment Financing Act, Chapter 311 of the Texas Tax Code (the “Act”); and WHEREAS, Ordinance 13-04 approved a Preliminary Project and Financing Plan for TIRZ Number Two; and WHEREAS, in compliance with the Act, the Board of Directors of TIRZ Number Two has reviewed and approved the final Project and Financing Plan for TIRZ Number Two attached hereto as “Exhibit A”; and WHEREAS, the Town Council having reviewed and given proper consideration, desires to approve the final Project and Financing Plan for TIRZ Number Two. NOW THEREFORE BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS: SECTION 1. That the facts and recitations contained in the preamble of this Ordinance are hereby found and declared to be true and correct. SECTION 2. That the final Project and Financing Plan for Tax Increment Financing Reinvestment Zone Number Two, Town of Prosper, Texas, is hereby approved. SECTION 3. That all ordinances of the Town of Prosper, Texas, in conflict with the provisions of this Ordinance be, and the same are hereby, repealed; provided, however, that all other provisions of said ordinances not in conflict with the provisions of this Ordinance shall remain in full force and effect. SECTION 4. That if any section, paragraph, clause or provision of this Ordinance shall for any reason be held invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause, or provision shall not affect any of the remaining provisions of this Ordinance. SECTION 5. This Ordinance shall become effective immediately upon its passage. Item 9 2 BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS, ON THIS THE 14TH DAY OF MAY, 2013. APPROVED: _______________________________ Ray Smith, Mayor ATTEST: _______________________________ Robyn Battle, Town Secretary APPROVED AS TO FORM: _____________________________ Peter G. Smith, Town Attorney (PGS:05-03-13:TM 60523) Item 9 3 Exhibit “A” PROJECT AND FINANCING PLAN Item 9 Stein Planning, LLC Project and Financing Plan for Prosper Tax Increment Financing Reinvestment Zone Number Two Prepared May 8, 2013 by for Town of Prosper, Texas MSW Prosper 380, L.P. and the Item 9 Contents Page Section 1: Objectives: 1 Section 2: What Is Tax Increment Financing? 1 Section 3: Reinvestment Zone Description 3 Section 4: Development with Tax Increment Financing 5 Section 5: Financing Project Costs 11 Section 6: Net New Revenue for Prosper, Collin County and the Prosper Independent School District 14 Exhibits Page Exhibit A: Real Property Tax Flow with Tax Increment Financing 2 Exhibit B: Prosper TIF Reinvestment Zone Number Two (Prosper West) with Existing Uses and Conditions 4 Exhibit C: Proposed Uses of TIF Reinvestment Zone Number Two 7 Exhibit D: Proposed Roadways and Parking Structures in and around TIF Reinvestment Zone Number Two 8 Exhibit E: Proposed Water Distribution System in and around TIF Reinvestment Zone Number Two 9 Exhibit F: Proposed Wastewater Collection System in and around TIF Reinvestment Zone Number Two 10 Item 9 Schedules Page Schedule 1: Base Value of the TIRZ 15 Schedule 2: Annual Development and Taxable Value Forecasts for the TIRZ, in 2012 Dollars 16 Schedule 3: Summary of Estimated TIRZ Project Costs and Nonproject Costs 17 Schedule 4: Forecast of Taxable Property and Town Property Taxes from the TIRZ 18 Schedule 5: Forecast of Taxable Property and County Property Taxes from the TIRZ 19 Schedule 6: Forecast of Real Property Tax Increments to the TIF Fund 20 Schedule 7: Forecast of Taxable Sales from Stores, Hotels and Cinemas in the TIRZ, in 2012 Dollars 21 Schedule 8: Forecast Hotel Sales, Town Hotel Occupancy Tax and Hotel Sales Subject to Sales Tax 22 Schedule 9: Forecast of Total Municipal Sales Tax Generated in the TIRZ 23 Schedule 10: Town of Prosper General Sales Tax for the TIF Fund 24 Schedule 11: Forecast of Prosper EDC 4A Sales Tax Grants for Prosper West Infrastructure 25 Schedule 12: Prospective Cash Flow for Prosper West from All Local Public Sources 26 Schedule 13: Tax from Prosper West Retained for Prosper General Fund and Prosper EDC 27 Schedule 14: Tax from Prosper West Retained for Collin County 28 Schedule 15: Forecast of Prosper ISD Taxes from the TIRZ 29 Item 9 Appendices Page Appendix A: Road Improvement Details 30 Appendix B: Other Site Improvement Details 44 Appendix C: Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area 46 Disclaimer Neither this report nor its conclusion may be referred to or included in any product or part of any offering made in connection with private syndication of equity, sales of bonds, sales of securities or sale of participation interests to the public without express written consent of Stein Planning, LLC. Item 9 Section 1: Objectives Objectives of Prosper Tax Increment Financing Reinvestment Zone Number Two (“the TIRZ”) are economic and qualitative benefits for the Town of Prosper and Collin County. The Town has concluded that development of an area known as Prosper West, northwest of the intersection of the Dallas North Tollway and University Drive (U.S. Highway 380) in general accord with a plan proposed by MSW Prosper 380, L.P., a limited partnership, will promote economic growth and quality of life for Town residents. The Town concludes, moreover, that this TIRZ is an appropriate tool to facilitate timely development of streets and other public improvements that are necessary and desirable for proper development of Prosper West. Section 2: What Is Tax Increment Financing? Tax increment financing (“TIF”) is a tool local governments in Texas have used since 1986 to finance public improvements within defined areas that have unique challenges or opportunities for economic development. Statutory law regarding TIF for municipalities is found in Chapter 311 of the Texas Tax Code (the “Act”). Improvements facilitated by tax increment financing should attract investment and improve communities. A municipality or county may make an area eligible for tax increment financing by designating a TIRZ. “TIRZ” and “TIF zone” are interchangeable names used in Texas for a tax increment financing reinvestment zone. Every TIRZ is designated with a finite term of existence. Real property taxes on the value of the TIRZ in its year of designation (its “base year”) continue to flow to the general funds of the relevant taxing unit, but, for the duration of the TIRZ and for local taxing entities that choose to participate in a TIRZ program, all or part of the tax on real property value in the TIRZ in excess of the TIRZ base value flows to a tax increment financing fund (“TIRZ fund,” also called a “TIF fund”). Money flowing to the TIRZ fund is disbursed according to one or more development agreements. These will be contracts between the Town of Prosper and a developer. A development agreement must accord with a TIRZ project plan and financing plan (“TIRZ plan”) approved by the Town Council subsequent to a recommendation by a TIRZ Board of Directors (“TIRZ Board”) as prescribed by the Act. The TIRZ fund may be used only as authorized by State law. Exhibit A illustrates how rising tax revenue from greater taxable value in a TIRZ flows with time to a taxing jurisdiction’s general fund and to a TIRZ fund. The sloped lines depict tax revenue in the zone rising with time. For the duration of Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 1 Item 9 the TIRZ, the Town will deposit to the TIRZ fund 70% of Town tax increments due to increased taxable real property values within the TIRZ boundary. Collin County will be asked to invest in the TIRZ 50% of County tax increments due to increased taxable real property values in the zone for the same term of years. Real property taxes retained from the TIRZ for the general funds of both the Town and County will rise sharply upon termination of the TIRZ. In addition to a major share of its real property tax, Prosper will invest in the TIRZ fund 25% of its general sales tax collected from the TIRZ for the duration of the TIRZ. No Town or County taxes or fees except the designated portions of real property taxes and Town sales tax will flow to the TIRZ fund. Inclusion of property in a TIRZ does not change the tax rate for any property. Tax rates in a TIRZ are the same as rates outside the zone and within the same set of taxing jurisdictions. Mere designation of a TIRZ is not an entitlement to future tax flow, although it’s a step in that direction. Only if the Prosper Town Council approves execution of a development agreement consistent with a TIRZ project plan and financing plan may cash flow from the TIRZ fund and then only in accord with terms of a development agreement. A TIRZ Board for Zone Number Two must make a recommendation to the Town Council prior to Council approval of a development agreement for TIRZ Two. Exhibit A: Real Property Tax Flow with Tax Increment Financing This exhibit illustrates a general concept. It is not scaled to reflect magnitudes of annual tax increases or exact proportions of flow to the TIRZ fund versus the general fund. Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 2 Item 9 Section 3: Reinvestment Zone Description Exhibit B is a map of Prosper TIRZ Number Two, showing existing uses and conditions. The zone includes 157.289 acres plus adjacent public rights-of-way. All taxable land in the Zone is used for grazing. The zone is two non-contiguous parcels. MSW Prosper 380, L.P. has purchased both. Zone boundaries that follow public rights-of-way extend from the center of the TIF zone to the far sides of such rights-of-way or to the Town limit, whichever is nearer to the center of the reinvestment zone. Situated at the northwest intersection of the Dallas North Tollway and University Drive (U.S. 380), the reinvestment site is a convenient and logical site for regional commercial activity and high density mixed-use development. The north side of University Drive is in the Town of Prosper. The south side is in the City of Frisco. With a commitment to timely investments in public infrastructure at this site, the Town anticipates that the TIRZ area will capture development and taxes that might otherwise occur later, if at all, or in other municipalities or counties and that the development that occurs in the zone and vicinity will be of better quality due to the site layout and infrastructure made feasible by the TIRZ program. The absence of streets and walks, positive drainage, water and sewer lines and franchise utilities in the TIRZ area impairs sound growth of this part of the Town and Collin County. The zone meets other statutory tests for designating a TIRZ in that: (1) None of the land in the zone (infinitely less than the 30% allowed by statute law) is currently used for residential purposes; (2) The total appraised value of real property in the zone liable for taxation in 2013 was $29,413, according to the preliminary 2013 assessment roll. Taxable value on the certified roll for 2013 is expected to be the same. Together with other reinvestment zones in the Town, the total appraised value of taxable real property in such zones was far less than the statutory maximum of 50%. Real property accounts in the TIRZ and preliminary 2013 values are identified in Schedule 1. The certified roll for 2013 will become available in late July of 2013. Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 3 Item 9 Exhibit B: Prosper TIF Reinvestment Zone Number Two (Prosper West) with Existing Uses and Conditions (2013) Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 4 Item 9 Section 4: Development with Tax Increment Financing Private Development Exhibit C is a map showing a layout of proposed uses in the TIRZ. Some adjustments in response to changing market demand will be required over the several years before the TIRZ is fully developed. The top section of Schedule 2 quantifies gross floor areas currently planned for various uses of land in the TIRZ. The developer, MSW Prosper 380, L.P., plans approximately 3.6 million square feet of floor area in the total TIRZ when fully developed. About 46% of that floor area will be residential space, 25% will be office space and the balance will be for retail, hotel, theater or other uses. TIRZ Project Costs and Nonproject Costs Exhibits D, E and F map major improvements to public infrastructure in and around the TIRZ. Exhibit D shows roadway improvements, E shows water distribution improvements and F shows wastewater collection improvements. Estimated construction costs of these and other public improvements associated with development of the TIRZ are summarized in Schedule 3. Schedule 3 separates public improvement construction costs into: (a) project costs eligible for reimbursement by the TIRZ fund and (b) nonproject costs for construction to be paid by the developer or other sources. The project cost principal from Schedule 3 is $27.5 million plus Town expenses to administer the TIRZ program and financing costs. The Town anticipates financing costs at approximately 3.5% per year on the outstanding principal balance advanced for construction of public improvements. Detailed estimates of road and other infrastructure construction costs appear in Appendices A and B of this document. Cost estimates in the appendix are approximate. Cost subtotals in Schedule 3 take precedence over the cost estimates in the appendices. Taxable Value The middle and lower sections of Schedule 2 estimate taxable values (in 2012 dollars) for the real and business personal property that is proposed for development at the top of the same schedule. Estimated taxable values are identified by year of anticipated completion. The year of development matters greatly to a forecast of annual taxable value. The appraised value of improved real property liable for taxes is forecast at $296 million after ten years (end of 2023) and $424 million at ultimate buildout, (estimated end of 2028). These forecast values of Schedule 2 are expressed in 2012 or 2013 dollars, meaning they are not yet adjusted for probable inflation. Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 5 Item 9 The taxable appraised value estimates in Schedule 2 are by Stein Planning, LLC. These estimates of appraised value for tax purposes are based on the developer’s anticipated development program and taxable values assigned to comparable properties by the Collin Central Appraisal District or other appraisal districts in the metropolitan area. Appendix C of this document presents actual appraisals of comparable properties by county appraisal districts. Development costs, sale prices and appraisals for tax purposes may differ significantly. Taxable Development and Public Infrastructure Nexus The proposed development cannot happen without costly public infrastructure improvements. Construction of a well-designed and well-built network of streets, walkways, utilities and public amenities that attracts employment and a strong local tax base will benefit Prosper and Collin County. Consequently, the Town intends that a TIF fund for TIRZ Two will reimburse principal and reasonable interest expenses for the TIRZ project costs identified in Schedule 3. Listed TIRZ project items and their estimated costs may be reviewed periodically by the TIRZ Board and may be modified upon Board recommendation and Town Council approval. Texas law requires that a TIF project plan must identify proposed changes of zoning ordinances, the master plan of the municipality, building codes, other municipal ordinances and subdivision rules and regulations, if any, of the county, if applicable. No such changes are currently proposed, but future proposals for change are possible. With adequate infrastructure, it’s legally possible to build all the uses and densities programmed in Schedule 2 with existing Town of Prosper PD-41 and PD-48 zoning. No residents will be displaced by the development currently anticipated by the TIRZ plan. There are no residents at present within the zone. Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 6 Item 9 Exhibit C: Proposed Uses of TIF Reinvestment Zone Number Two This exhibit is being updated as of May 2013. Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 7 Item 9 Exhibit D: Proposed Roadways and Parking Structures in and around TIF Reinvestment Zone Number Two Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 8 Item 9 Exhibit E: Proposed Water Distribution System in and around TIF Reinvestment Zone Number Two Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 9 Item 9 Exhibit F: Proposed Wastewater Collection System in and around TIF Reinvestment Zone Number Two Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 10 Item 9 Section 5: Financing Project Costs Revenue for TIRZ Project Costs Based on the development and taxable value assumptions for TIRZ Number Two (from Schedule 2), Schedules 4 and 5 are forecasts of annual and cumulative cash generated by property tax within the TIRZ during the TIRZ term of twenty- five years and beyond to a total of forty years. Part of the real property tax generated within the TIRZ will be dedicated to the TIRZ fund for its duration. No business personal property tax will flow to the TIRZ fund. Annual real property tax receipts dedicated to the TIRZ fund are forecast in Schedule 6. That schedule assumes the Town of Prosper pledges 70% of the real property tax increment to the fund for tax years 2014 through 2038 and that Collin County pledges 50% of real property tax increments for the same term. (The duration of the TIRZ runs from its date of designation by the Town Council through December 31, 2038. Designated shares of tax increments levied in calendar 2038 flow to the TIRZ fund, even if collected in a subsequent year.) Although not calculated on Schedule 6, Prosper pledges to the TIRZ fund the incremental tax collected from the five-year “rollback” of taxable value due upon conversion of agricultural land to non-agricultural use. If collected entirely in tax year 2013 or soon thereafter, the total five-year rollback tax attributed to the Town alone is expected to approximate $640,000, per the calculation at the bottom of Schedule 1. In addition to real property tax, the Town of Prosper will commit to the TIRZ fund for its duration a portion of Town general sales tax earned within the TIRZ. Annual retail sales and sales taxes earned from the TIRZ for the Town of Prosper and the Prosper Economic Development Corporation (“PEDC”) are forecast by Schedules 7, 8 and 9. Schedule 10 is a forecast of Town general sales tax flowing to the TIRZ fund, based on the Town’s dedication of 25% of general sales tax. The PEDC anticipates grants of part of the 0.5% municipal sales tax for economic development (“4A sales tax”) to pay costs for public infrastructure in the TIRZ. On December 31, 2012, the PEDC entered into an economic development incentive agreement (Contract 512) with the owner of land in the TIRZ. The agreement calls for a grant of $500,000 from accumulated 4A tax to pay for public infrastructure. This amount has been conveyed. The agreement provides further PEDC obligations that will total either $2 million or $3 million for principal expenses, including the original $500,000. (The grant amount depends on public improvements built at developer expense and taxable value of the TIRZ by the tenth year of its existence.) PEDC grant payments after the original $500,000 will be drawn from 4A sales tax earned within the TIRZ and possibly Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 11 Item 9 other 4A sales tax. The anticipated percentage of 4A sales tax earned in the TIRZ that is committed to grants for public improvements in the TIRZ is 50% for most years. PEDC grants for infrastructure in the TIRZ will be increased to add interest on the agreed principal balances not yet reimbursed to the developer, on a sliding scale from 1.5% simple annual interest, not to exceed 4.5% annual interest. After these grants of $2 million or $3 million to reimburse public improvement expenses incurred by the developer have been paid with interest, but not before fifteen years, the PEDC has pledged 50% of 4A sales tax earned from the TIRZ to defray TIRZ project costs during the duration of the TIRZ. Schedule 11 is a forecast of annual amounts paid by the PEDC for infrastructure for economic development in the TIRZ. Anticipated annual dedications to the TIRZ fund by the Town of Prosper and Collin County and grants by the Prosper Economic Development Corporation for infrastructure in the TIRZ are listed and totaled in Schedule 12. The combined total funds available for TIRZ project costs, including principal, financing costs and Town administrative expenses for the TIRZ program through the duration of the TIRZ are forecast as approaching $53.7 million (Schedule 12). After deducting about $1.3 million to pay Town administrative expenses of the TIRZ fund, Schedule 12 estimates approximately $52.4 million of cash flow to the TIRZ fund for other project costs. An additional $2.4 million for principal and interest for TIRZ infrastructure will flow from a PEDC grant directly to the developer. The PEDC direct grant amount could increase by roughly $1.2 million if terms for a supplemental grant are met. A cash flow spread over many years has significantly less value, however, than the same cash in a lump sum today, due to the cost of borrowing money to pay for items needed today. When the forecast cash flow to the TIRZ fund, net of administrative expenses, is discounted to present value at a discount rate of 3.5% suggested by Town sources, the present value of the forecast 25-year net cash flow forecast for the TIRZ fund is approximately $29.7 million. Use of Funds for TIRZ Project Costs With Town Council approval, actual cash flow to the TIRZ fund may be paid as it becomes available for TIRZ project costs, whether incurred by the Town, a developer, a lender, or another party. Project costs must be consistent with a TIRZ project plan and financing plan. A contractual agreement should specify terms for disbursement of TIRZ funds, including priorities for disbursement of funds if multiple parties have claims to TIRZ fund revenue. TIRZ project costs are most commonly paid as reimbursements to developers in exchange for a developer causing construction of public improvements in accord with agreed performance standards. Rights to receive cash from a TIRZ fund may be assigned with due consents. Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 12 Item 9 Municipalities or counties may recover from a TIRZ fund their own expenses for duly approved TIRZ project cost items. Town expenses incurred for organization and administration of the TIF program will have a senior claim on TIF revenue in every year, to the extent that such expenses are documented and reasonable. Town administrative expenses accrued but not reimbursed will roll forward to successive years until paid. Annual Town expenses have been estimated at $40,000 plus inflation. Prosper contemplates application of part of its TIRZ revenue to debt service on bonds that may be authorized by the Town, the U.S. Department of Agriculture, or another government entity to pay for public improvements in the TIRZ or other expenses that are legitimate uses of TIRZ fund revenue. TIRZ revenue may be the sole security for bonds or one of multiple revenue streams securing bonds. Economic Feasibility A comparison of the TIRZ fund’s net revenue forecast from Schedule 12 suggests that the $52.4 million of net revenue after administrative expenses will be more than ample to pay the $27.5 million for public improvements principal (from Schedule 3). Reimbursement of principal for TIRZ project costs thus appears economically feasible. The present value of the net $52.4 million cash flow to the TIRZ fund through its term of twenty-five years, discounted at 3.5% for each year into the future beyond 2013, is $29.7 million, per Schedule 12. Because that value is greater than the $27.5 million of TIRZ project costs for public infrastructure, it suggests probability that the TIRZ fund will be capable of ultimately paying approximately 3.5% interest on $27.5 million advanced by the developer or bondholders for public infrastructure principal cost. It doesn’t mean that the TIF fund will have sufficient revenue to pay 3.5% interest on the balance owed in every year. Revenue to the TIRZ fund will be light in early years and robust in later years. TIRZ fund creditors will need to structure loan repayments so that repayment is skewed to later years. Postponing construction of infrastructure until needed, as opposed to building it all immediately, will minimize accrual of the TIRZ fund’s interest obligations. Reimbursement of all planned TIRZ project costs (administrative expenses, principal and interest at approximately 3.5%) thus appears economically feasible. It’s possible that revenue to the TIRZ fund may prove sufficient to cover all TIRZ project costs, including administrative and financing costs, before collection of tax increments from 2038 (mostly received in 2039). If all financial obligations of the TIRZ fund are satisfied before the scheduled end date of the TIRZ, the Town Council may terminate the TIRZ early. If the TIRZ fund has a cash balance after all its financial obligations have been met, any residual balance will be prorated Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 13 Item 9 to taxing jurisdictions according to amounts deposited to the TIRZ fund for the year when fund obligations have been fully discharged. The anticipated percentage of total receipts for TIRZ project costs that will come from Town tax increments (real property and sales tax) and Prosper Economic Development Corporation grants is 82% to 83%. County tax increments will account for the balance. These percentages should not be confused with the percentages of annual incremental real property tax that the Town and County will contribute to the TIF fund. Section 6: Net New Revenue for Prosper, Collin County and the Prosper Independent School District Prosper and Collin County will gain and retain significant real property tax earned within the TIRZ for the full duration of the TIRZ. Beyond these greater tax volumes related to increased real property value in the zone, Prosper and all other taxing entities will receive and retain 100% of business personal property tax related to TIRZ development. Texas law does not authorize business personal property tax to flow to a TIF fund. Prosper will retain part of the sales tax earned in the TIRZ. Schedules 13, 14 and 15 forecast taxes from development in the TIRZ that will be retained by the Town, Collin County and the Prosper Independent School District, respectively. Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 14 Item 9 Schedule 1: Base Value of the TIRZ Notes: Base value for the TIRZ will be the taxable value of real property in the zone for 2013, the year when the zone was designated. This schedule assumes the preliminary 2013 appraisals herein will remain constant in the certified 2013 appraisal roll. Land areas are as reported by the Collin Central Appraisal District. Actual areas may vary. Taxable real property values represent agricultural productivity value. (a)(b)(c) (d)(e)(f)(g)(h) (i) (j) Collin CAD Taxable Account Owner Acres SF Land Improvements Total Land Per SF Taxable Per SF 2688097 MSW Prosper 380, LP 127.289 5,544,709 $19,406,482 $0 $19,406,482 $3.50 $23,803 $0.0043 2688193 MSW Prosper 380, LP 30.000 1,306,800 $5,227,200 $0 $5,227,200 $4.00 $5,610 $0.0043 Total for TIRZ 157.289 6,851,509 $24,633,682 $0 $24,633,682 $3.60 $29,413 $0.0043 Rollback Tax Estimate, Based on 2013 Values: 2013 difference between Collin CAD "market" value and agricultural value of the TIRZ: $24,604,269 Town of Prosper 2012 tax rate per $100 (assumed constant):$0.52 2012 difference in Town of Prosper real property tax from the TIRZ due to agricultural valuation:$127,942 Approximate value of five-year real property tax rollback (Town tax only) if entirely due in 2013:$639,711 Land Area "Market" Appraisals by Collin Central Appraisal District, 2013 Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 15 Item 9 Schedule 2: Annual Development and Taxable Value Forecasts for the TIRZ, in 2012 Dollars Notes:Uses, gross floor areas, dwelling counts and phasing are the current plan offered by the site developer. All are subject to change. Taxable appraisals per square foot of gross floor area are estimates by Stein Planning, LLC, based on 2012 appraisals for tax purposes of comparable developments in the metropolitan area. Comparables are listed in an appendix. Construction cost, sale value and appraisal for taxation are not necessarily the same. Stein Planning, LLC assumes the market will absorb floor area when completed. This is not an evaluation of market demand. (a)(b)(c)(d)(e)(f)(g)(h)(i)(j)(k)(l) Completed Added Total During To Roll as of 1,100 Stand-Alone Added Cumulative Calendar Jan. 1,Units SF GFA / Unit Office Big Box General Restaurant Cinema Hotel This Year Total 2014 2015 0 0 0 0 0 0 0 0 0 0 2015 2016 0 0 60,000 0 0 0 0 0 60,000 60,000 2016 2017 0 0 0 50,000 20,000 22,000 0 60,000 152,000 212,000 2017 2018 150 165,000 50,000 0 0 10,000 0 0 225,000 437,000 2018 2019 150 165,000 50,000 0 20,000 6,000 0 0 241,000 678,000 2019 2020 0 0 0 0 0 20,000 40,000 0 60,000 738,000 2020 2021 150 165,000 60,000 0 35,000 0 0 0 260,000 998,000 2021 2022 150 165,000 100,000 50,000 180,000 18,000 0 0 513,000 1,511,000 2022 2023 0 0 120,000 0 0 0 0 300,000 420,000 1,931,000 2023 2024 200 220,000 150,000 50,000 37,000 18,000 0 0 475,000 2,406,000 2024 2025 0 0 140,000 0 50,000 12,000 0 0 202,000 2,608,000 2025 2026 200 220,000 60,000 0 0 0 0 0 280,000 2,888,000 2026 2027 150 165,000 60,000 0 0 5,000 0 0 230,000 3,118,000 2027 2028 150 165,000 60,000 0 20,000 9,000 0 0 254,000 3,372,000 2028 2029 200 220,000 0 0 0 0 0 0 220,000 3,592,000 2029 2030 0 0 0 0 0 0 0 0 0 3,592,000 Total 1,500 1,650,000 910,000 150,000 362,000 120,000 40,000 360,000 3,592,000 46% 25% 4% 10%3% 1% 10% 100% Completions Added Residential Stand-Alone Total During To Roll as of for Rent, If Office, If Big Box, If General, If Restaurant, If Cinema, If Hotel, If Added Cumulative Calendar Jan. 1,$90 $130 $80 $125 $300 $120 $95 This Year Total 2014 2015 $0 $0 $0 $0 $0 $0 $0 $24,604,269 $24,604,269 2015 2016 $0 $7,800,000 $0 $0 $0 $0 $0 $7,800,000 $32,404,269 2016 2017 $0 $0 $4,000,000 $2,500,000 $6,600,000 $0 $5,700,000 $18,800,000 $51,204,269 2017 2018 $14,850,000 $6,500,000 $0 $0 $3,000,000 $0 $0 $24,350,000 $75,554,269 2018 2019 $14,850,000 $6,500,000 $0 $2,500,000 $1,800,000 $0 $0 $25,650,000 $101,204,269 2019 2020 $0 $0 $0 $0 $6,000,000 $4,800,000 $0 $10,800,000 $112,004,269 2020 2021 $14,850,000 $7,800,000 $0 $4,375,000 $0 $0 $0 $27,025,000 $139,029,269 2021 2022 $14,850,000 $13,000,000 $4,000,000 $22,500,000 $5,400,000 $0 $0 $59,750,000 $198,779,269 2022 2023 $0 $15,600,000 $0 $0 $0 $0 $28,500,000 $44,100,000 $242,879,269 2023 2024 $19,800,000 $19,500,000 $4,000,000 $4,625,000 $5,400,000 $0 $0 $53,325,000 $296,204,269 2024 2025 $0 $18,200,000 $0 $6,250,000 $3,600,000 $0 $0 $28,050,000 $324,254,269 2025 2026 $19,800,000 $7,800,000 $0 $0 $0 $0 $0 $27,600,000 $351,854,269 2026 2027 $14,850,000 $7,800,000 $0 $0 $1,500,000 $0 $0 $24,150,000 $376,004,269 2027 2028 $14,850,000 $7,800,000 $0 $2,500,000 $2,700,000 $0 $0 $27,850,000 $403,854,269 2028 2029 $19,800,000 $0 $0 $0 $0 $0 $0 $19,800,000 $423,654,269 2029 2030 $0 $0 $0 $0 $0 $0 $0 $0 $423,654,269 Total $148,500,000 $118,300,000 $12,000,000 $45,250,000 $36,000,000 $4,800,000 $34,200,000 $403,854,269 Completions Added Residential Stand-Alone Total During To Roll as of for Rent, If Office, If Big Box, If General, If Restaurant, If Cinema, If Hotel, If Added Cumulative Calendar Jan. 1,$0 $20 $40 $25 $30 $15 $0 This Year Total 2014 2015 $0 $0 $0 $0 $0 $0 $0 $0 $0 2015 2016 $0 $1,200,000 $0 $0 $0 $0 $0 $1,200,000 $1,200,000 2016 2017 $0 $0 $2,000,000 $500,000 $660,000 $0 $0 $3,160,000 $4,360,000 2017 2018 $0 $1,000,000 $0 $0 $300,000 $0 $0 $1,300,000 $5,660,000 2018 2019 $0 $1,000,000 $0 $500,000 $180,000 $0 $0 $1,680,000 $7,340,000 2019 2020 $0 $0 $0 $0 $600,000 $600,000 $0 $1,200,000 $8,540,000 2020 2021 $0 $1,200,000 $0 $875,000 $0 $0 $0 $2,075,000 $10,615,000 2021 2022 $0 $2,000,000 $2,000,000 $4,500,000 $540,000 $0 $0 $9,040,000 $19,655,000 2022 2023 $0 $2,400,000 $0 $0 $0 $0 $0 $2,400,000 $22,055,000 2023 2024 $0 $3,000,000 $2,000,000 $925,000 $540,000 $0 $0 $6,465,000 $28,520,000 2024 2025 $0 $2,800,000 $0 $1,250,000 $360,000 $0 $0 $4,410,000 $32,930,000 2025 2026 $0 $1,200,000 $0 $0 $0 $0 $0 $1,200,000 $34,130,000 2026 2027 $0 $1,200,000 $0 $0 $150,000 $0 $0 $1,350,000 $35,480,000 2027 2028 $0 $1,200,000 $0 $500,000 $270,000 $0 $0 $1,970,000 $37,450,000 2028 2029 $0 $0 $0 $0 $0 $0 $0 $0 $37,450,000 2029 2030 $0 $0 $0 $0 $0 $0 $0 $0 $37,450,000 Total $0 $18,200,000 $6,000,000 $9,050,000 $3,600,000 $600,000 $0 $37,450,000 Square Feet of Gross Floor Area Added Each Year Taxable Value of Real Property, Including Land, Based on 2012 Appraisals per Square Foot for Comparable Improvements and Jan. 1, 2015 Discontinutaion of Agricultural Valuation Retail Retail Taxable Value of Business Personal Property, Based on Typical 2012 Appraisals Per Square Foot for Comparable Properties Residential for Rent, If Retail Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 16 Item 9 Schedule 3: Summary of Estimated TIRZ Project Costs and Nonproject Costs Notes: This summary is based on cost estimates prepared by JBI Partners, Inc. on November 14, 2012, updated by the owner. Costs exclude permits, impact fees, land purchase costs and tree mitigation expenses. Developer costs exclude buildings. Costs reflect 2012 prices. No time or inflation factor is included. Rock excavation, if required, is not included in the estimates. Tollway crossings are assumed at surface. Costs for bridges are not included. Financing costs for TIRZ project costs are also TIRZ project costs. The assumed average annual interest rate is 3.5%. Fee and contingency estimates are based on all other construction cost lines except the braided ramp at U.S Highway 380. Estimated reimbursments of Town expenses for administration of the TIRZ program are imported from Schedule 12. Numbers may not add to subtotals due to rounding. Nonproject Costs Total TIRZ for Public Improvements Public Improvement TIRZ Project Cost Items Project Costs by Developer Costs STREETS AND DRAINAGE SYSTEMS $11,146,567 $2,001,748 $13,148,315 STREET ENHANCEMENTS $0 $1,775,577 $1,775,577 WATER SYSTEM $1,367,721 $1,116,778 $2,484,499 SANITARY SEWER SYSTEM $641,669 $358,204 $999,873 OFFSITE SANITARY SEWER SYSTEM $1,479,282 $0 $1,479,282 DETENTION/RETENTION PONDS & MASS EXCAVATION $0 $2,882,560 $2,882,560 SITEWORK FOR DEVELOPMENT PARCELS $0 $15,750,000 $15,750,000 PARKING DECKS $0 $73,497,600 $73,497,600 STREET LIGHTS $174,000 $210,000 $384,000 TRAFFIC SIGNALS (4 budgeted)$1,200,000 $0 $1,200,000 $1,174,992 $0 $1,174,992 PRIMARY ELECTRIC SERVICE LOOP $0 $3,600,000 $3,600,000 ELECTRIC $0 $640,150 $640,150 GAS $0 $448,105 $448,105 STREET N2 - WESTSIDE DNT SERVICE ROAD, LOVERS LN. TO FIRST ST.$1,687,005 $0 $1,687,005 BRAIDED RAMP AT U.S. 380 $4,000,000 $0 $4,000,000 CIVIL ENGINEERING & SURVEYING (10%)$1,887,124 $10,228,072 $12,115,196 CONSTRUCTION STAKING (2%)$377,425 $2,045,614 $2,423,039 CONSTRUCTION MANAGEMENT (TOTAL = 3%)$477,093 $3,157,466 $3,634,559 GEOTECHNICAL STUDY (1%)$188,712 $1,022,807 $1,211,520 LEGAL (1%)$188,712 $1,022,807 $1,211,520 CONTINGENCY (8%)$1,509,699 $8,182,458 $9,692,157 Subtotal $27,500,000 $127,939,947 $155,439,947 TOWN EXPENSE FOR TIRZ ADMINISTRATION $1,346,836 $0 $1,346,836 Subtotal TIRZ Project Costs Before Finance Expenses $28,846,837 $127,939,947 $156,786,783 LOVERS LANE LOOP OFFSITE - STREET K6 Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 17 Item 9 Schedule 4: Forecast of Taxable Property and Town Property Taxes from the TIRZ Notes:Base value of the TIRZ is from Schedule 1. Annual forecasts of taxable values added to the roll in 2012 dollars are calculated in a separate schedule. Values are adjusted for inflation in this schedule. Town of Prosper "rollback" taxes from loss of agricultural status belong to the TIRZ fund. Town rollback taxes are not indicated in this schedule, but are added to Schedule 12. The increase in appraised value as of January 1, 2015 assumes all properties are appraised as non-agricultural land for that year. Annual forecasts of taxable value of land and improvements associated with developed property (in 2012 dollars plus assumed inflation) are added to the tax roll on Jan. 1 following assumed completions. The 2012 tax rate is assumed constant. Actual rates will be set annually. No tax abatements or tax exemptions have been assumed. (a) (b)(c)(d)(e)(f)(g)(h)(i)(j)(k)(l)(m)(n) Appraisal Before Forecast CCAD Appraisal Total Taxable Appraisal Without Forecast CCAD Appraisal Improvements of Improved Properties Real Property in Structures Due to Personal Property Cumulative Added This Year;Added to Roll This Year,Property Town Completed This Year;Added This Year,BPP Town Total Town Property If Post-completion If Inflated Appraisal Real Property Post-completion If Inflated Appraisal BPP Appraisal Total Property Appraised Tax Deposited Appraisals Rise 2.00%Total Tax @ Appraisals Rise 2.00%Total Tax @ Forecast Town Tax TIRZ Value for to TIRZ Fund 1.00%Annually from 1/1/13 for Jan. 1 $0.52 1.00%Annually from 1/1/13 for Jan. 1 $0.52 for Jan. 1 Property After Year Jan. 1, by May 1, Annually After 1/1/13 Through Year Added of This Year per $100 Annually After 1/1/13 Through This Year of This Year per $100 of This Year Tax Base Year Base 2013 2014 $0 $29,413 $153 $0 $0 $0 $29,413 $153 1 2014 2015 $29,707 $0 $29,707 $154 $0 $0 $0 $0 $29,707 $154 $154 2 2015 2016 $30,004 $25,598,281 $25,628,286 $133,267 $0 $1,248,480 $1,248,480 $6,492 $26,876,766 $139,759 $139,914 3 2016 2017 $25,884,569 $8,277,422 $34,161,991 $177,642 $1,260,965 $3,353,417 $4,614,382 $23,995 $38,776,373 $201,637 $341,551 4 2017 2018 $34,503,611 $20,349,725 $54,853,335 $285,237 $4,660,526 $1,407,162 $6,067,688 $31,552 $60,921,023 $316,789 $658,340 5 2018 2019 $55,401,869 $26,884,368 $82,286,236 $427,888 $6,128,365 $1,854,856 $7,983,220 $41,513 $90,269,457 $469,401 $1,127,741 6 2019 2020 $83,109,099 $28,886,066 $111,995,165 $582,375 $8,063,053 $1,351,395 $9,414,447 $48,955 $121,409,612 $631,330 $1,759,071 7 2020 2021 $113,115,116 $12,405,805 $125,520,922 $652,709 $9,508,592 $2,383,523 $11,892,115 $61,839 $137,413,036 $714,548 $2,473,619 8 2021 2022 $126,776,131 $31,664,095 $158,440,226 $823,889 $12,011,036 $10,591,801 $22,602,837 $117,535 $181,043,062 $941,424 $3,415,043 9 2022 2023 $160,024,628 $71,406,781 $231,431,409 $1,203,443 $22,828,865 $2,868,222 $25,697,087 $133,625 $257,128,496 $1,337,068 $4,752,111 10 2023 2024 $233,745,723 $53,757,654 $287,503,377 $1,495,018 $25,954,058 $7,880,799 $33,834,857 $175,941 $321,338,234 $1,670,959 $6,423,070 11 2024 2025 $290,378,411 $66,302,935 $356,681,346 $1,854,743 $34,173,206 $5,483,281 $39,656,486 $206,214 $396,337,832 $2,060,957 $8,484,027 12 2025 2026 $360,248,159 $35,574,182 $395,822,341 $2,058,276 $40,053,051 $1,521,890 $41,574,941 $216,190 $437,397,283 $2,274,466 $10,758,493 13 2026 2027 $399,780,565 $35,703,543 $435,484,108 $2,264,517 $41,990,691 $1,746,369 $43,737,060 $227,433 $479,221,167 $2,491,950 $13,250,443 14 2027 2028 $439,838,949 $31,865,412 $471,704,361 $2,452,863 $44,174,430 $2,599,373 $46,773,803 $243,224 $518,478,164 $2,696,086 $15,946,529 15 2028 2029 $476,421,405 $0 $476,421,405 $2,477,391 $47,241,541 $0 $47,241,541 $245,656 $523,662,946 $2,723,047 $18,669,576 16 2029 2030 $481,185,619 $0 $481,185,619 $2,502,165 $47,713,957 $0 $47,713,957 $248,113 $528,899,576 $2,750,278 $21,419,854 17 2030 2031 $485,997,475 $0 $485,997,475 $2,527,187 $48,191,096 $0 $48,191,096 $250,594 $534,188,571 $2,777,781 $24,197,635 18 2031 2032 $490,857,450 $0 $490,857,450 $2,552,459 $48,673,007 $0 $48,673,007 $253,100 $539,530,457 $2,805,558 $27,003,193 19 2032 2033 $495,766,024 $0 $495,766,024 $2,577,983 $49,159,737 $0 $49,159,737 $255,631 $544,925,762 $2,833,614 $29,836,807 20 2033 2034 $500,723,684 $0 $500,723,684 $2,603,763 $49,651,335 $0 $49,651,335 $258,187 $550,375,019 $2,861,950 $32,698,757 21 2034 2035 $505,730,921 $0 $505,730,921 $2,629,801 $50,147,848 $0 $50,147,848 $260,769 $555,878,769 $2,890,570 $35,589,327 22 2035 2036 $510,788,230 $0 $510,788,230 $2,656,099 $50,649,327 $0 $50,649,327 $263,376 $561,437,557 $2,919,475 $38,508,802 23 2036 2037 $515,896,113 $0 $515,896,113 $2,682,660 $51,155,820 $0 $51,155,820 $266,010 $567,051,933 $2,948,670 $41,457,472 24 2037 2038 $521,055,074 $0 $521,055,074 $2,709,486 $51,667,378 $0 $51,667,378 $268,670 $572,722,452 $2,978,157 $44,435,629 25 2038 2039 $526,265,625 $0 $526,265,625 $2,736,581 $52,184,052 $0 $52,184,052 $271,357 $578,449,676 $3,007,938 $47,443,567 26 2039 2040 $531,528,281 $0 $531,528,281 $2,763,947 $52,705,892 $0 $52,705,892 $274,071 $584,234,173 $3,038,018 $50,481,585 27 2040 2041 $536,843,564 $0 $536,843,564 $2,791,587 $53,232,951 $0 $53,232,951 $276,811 $590,076,515 $3,068,398 $53,549,983 28 2041 2042 $542,211,999 $0 $542,211,999 $2,819,502 $53,765,281 $0 $53,765,281 $279,579 $595,977,280 $3,099,082 $56,649,065 29 2042 2043 $547,634,119 $0 $547,634,119 $2,847,697 $54,302,934 $0 $54,302,934 $282,375 $601,937,053 $3,130,073 $59,779,137 30 2043 2044 $553,110,460 $0 $553,110,460 $2,876,174 $54,845,963 $0 $54,845,963 $285,199 $607,956,423 $3,161,373 $62,940,511 31 2044 2045 $558,641,565 $0 $558,641,565 $2,904,936 $55,394,423 $0 $55,394,423 $288,051 $614,035,988 $3,192,987 $66,133,498 32 2045 2046 $564,227,981 $0 $564,227,981 $2,933,985 $55,948,367 $0 $55,948,367 $290,932 $620,176,348 $3,224,917 $69,358,415 33 2046 2047 $569,870,261 $0 $569,870,261 $2,963,325 $56,507,850 $0 $56,507,850 $293,841 $626,378,111 $3,257,166 $72,615,581 34 2047 2048 $575,568,963 $0 $575,568,963 $2,992,959 $57,072,929 $0 $57,072,929 $296,779 $632,641,892 $3,289,738 $75,905,319 35 2048 2049 $581,324,653 $0 $581,324,653 $3,022,888 $57,643,658 $0 $57,643,658 $299,747 $638,968,311 $3,322,635 $79,227,954 36 2049 2050 $587,137,899 $0 $587,137,899 $3,053,117 $58,220,095 $0 $58,220,095 $302,744 $645,357,994 $3,355,862 $82,583,816 37 2050 2051 $593,009,278 $0 $593,009,278 $3,083,648 $58,802,296 $0 $58,802,296 $305,772 $651,811,574 $3,389,420 $85,973,236 38 2051 2052 $598,939,371 $0 $598,939,371 $3,114,485 $59,390,319 $0 $59,390,319 $308,830 $658,329,690 $3,423,314 $89,396,550 39 2052 2053 $604,928,765 $0 $604,928,765 $3,145,630 $59,984,222 $0 $59,984,222 $311,918 $664,912,987 $3,457,548 $92,854,098 40 2053 2054 $610,978,052 $0 $610,978,052 $3,177,086 $60,584,064 $0 $60,584,064 $315,037 $671,562,117 $3,492,123 $96,346,221 Total for years 1-40 $448,676,269 $87,558,565 $44,290,567 $8,787,655 $96,346,221 Business Personal Property Total PropertyReal Property Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 18 Item 9 Schedule 5: Forecast of Taxable Property and County Property Taxes from the TIRZ Notes:Base value of the TIRZ is from Schedule 1. Annual forecasts of taxable values added to the roll in 2012 dollars are calculated in a separate schedule. Values are adjusted for inflation in this schedule. The increase in appraised value as of January 1, 2015 assumes all properties are appraised as non-agricultural land for that year. Annual forecasts of taxable value of land and improvements associated with developed property (in 2012 dollars plus assumed inflation) are added to the tax roll on Jan. 1 following assumed completions. The 2012 tax rate is assumed constant. Actual rates will be set annually. No tax abatements or tax exemptions have been assumed. (a) (b)(c)(d)(e)(f)(g)(h)(i)(j)(k)(l)(m)(n) Appraisal Before Forecast CCAD Appraisal Total Taxable Appraisal Without Forecast CCAD Appraisal Improvements of Improved Properties Real Property in Structures Due to Personal Property Cumulative Added This Year;Added to Roll This Year,Property County Completed This Year;Added This Year,BPP County Total County Property If Post-completion If Inflated Appraisal Real Property Post-completion If Inflated Appraisal BPP Appraisal Total Property Appraised Tax Deposited Appraisals Rise 2.00%Total Tax @ Appraisals Rise 2.00%Total Tax @ Forecast County Tax TIRZ Value for to TIRZ Fund 1.00%Annually from 1/1/13 for Jan. 1 $0.24 1.00%Annually from 1/1/13 for Jan. 1 $0.24 for Jan. 1 Property After Year Jan. 1, by May 1, Annually After 1/1/13 Through Year Added of This Year per $100 Annually After 1/1/13 Through This Year of This Year per $100 of This Year Tax Base Year Base 2013 2014 $0 $29,413 $71 $0 $0 $0 $0 $29,413 $71 1 2014 2015 $29,707 $0 $29,707 $71 $0 $0 $0 $0 $29,707 $71 $71 2 2015 2016 $30,004 $25,598,281 $25,628,286 $61,508 $0 $1,248,480 $1,248,480 $2,996 $26,876,766 $64,504 $64,576 3 2016 2017 $25,884,569 $8,277,422 $34,161,991 $81,989 $1,260,965 $3,353,417 $4,614,382 $11,075 $38,776,373 $93,063 $157,639 4 2017 2018 $34,503,611 $20,349,725 $54,853,335 $131,648 $4,660,526 $1,407,162 $6,067,688 $14,562 $60,921,023 $146,210 $303,849 5 2018 2019 $55,401,869 $26,884,368 $82,286,236 $197,487 $6,128,365 $1,854,856 $7,983,220 $19,160 $90,269,457 $216,647 $520,496 6 2019 2020 $83,109,099 $28,886,066 $111,995,165 $268,788 $8,063,053 $1,351,395 $9,414,447 $22,595 $121,409,612 $291,383 $811,879 7 2020 2021 $113,115,116 $12,405,805 $125,520,922 $301,250 $9,508,592 $2,383,523 $11,892,115 $28,541 $137,413,036 $329,791 $1,141,670 8 2021 2022 $126,776,131 $31,664,095 $158,440,226 $380,257 $12,011,036 $10,591,801 $22,602,837 $54,247 $181,043,062 $434,503 $1,576,174 9 2022 2023 $160,024,628 $71,406,781 $231,431,409 $555,435 $22,828,865 $2,868,222 $25,697,087 $61,673 $257,128,496 $617,108 $2,193,282 10 2023 2024 $233,745,723 $53,757,654 $287,503,377 $690,008 $25,954,058 $7,880,799 $33,834,857 $81,204 $321,338,234 $771,212 $2,964,494 11 2024 2025 $290,378,411 $66,302,935 $356,681,346 $856,035 $34,173,206 $5,483,281 $39,656,486 $95,176 $396,337,832 $951,211 $3,915,705 12 2025 2026 $360,248,159 $35,574,182 $395,822,341 $949,974 $40,053,051 $1,521,890 $41,574,941 $99,780 $437,397,283 $1,049,753 $4,965,458 13 2026 2027 $399,780,565 $35,703,543 $435,484,108 $1,045,162 $41,990,691 $1,746,369 $43,737,060 $104,969 $479,221,167 $1,150,131 $6,115,589 14 2027 2028 $439,838,949 $31,865,412 $471,704,361 $1,132,090 $44,174,430 $2,599,373 $46,773,803 $112,257 $518,478,164 $1,244,348 $7,359,937 15 2028 2029 $476,421,405 $0 $476,421,405 $1,143,411 $47,241,541 $0 $47,241,541 $113,380 $523,662,946 $1,256,791 $8,616,728 16 2029 2030 $481,185,619 $0 $481,185,619 $1,154,845 $47,713,957 $0 $47,713,957 $114,513 $528,899,576 $1,269,359 $9,886,087 17 2030 2031 $485,997,475 $0 $485,997,475 $1,166,394 $48,191,096 $0 $48,191,096 $115,659 $534,188,571 $1,282,053 $11,168,139 18 2031 2032 $490,857,450 $0 $490,857,450 $1,178,058 $48,673,007 $0 $48,673,007 $116,815 $539,530,457 $1,294,873 $12,463,012 19 2032 2033 $495,766,024 $0 $495,766,024 $1,189,838 $49,159,737 $0 $49,159,737 $117,983 $544,925,762 $1,307,822 $13,770,834 20 2033 2034 $500,723,684 $0 $500,723,684 $1,201,737 $49,651,335 $0 $49,651,335 $119,163 $550,375,019 $1,320,900 $15,091,734 21 2034 2035 $505,730,921 $0 $505,730,921 $1,213,754 $50,147,848 $0 $50,147,848 $120,355 $555,878,769 $1,334,109 $16,425,843 22 2035 2036 $510,788,230 $0 $510,788,230 $1,225,892 $50,649,327 $0 $50,649,327 $121,558 $561,437,557 $1,347,450 $17,773,293 23 2036 2037 $515,896,113 $0 $515,896,113 $1,238,151 $51,155,820 $0 $51,155,820 $122,774 $567,051,933 $1,360,925 $19,134,218 24 2037 2038 $521,055,074 $0 $521,055,074 $1,250,532 $51,667,378 $0 $51,667,378 $124,002 $572,722,452 $1,374,534 $20,508,752 25 2038 2039 $526,265,625 $0 $526,265,625 $1,263,037 $52,184,052 $0 $52,184,052 $125,242 $578,449,676 $1,388,279 $21,897,031 26 2039 2040 $531,528,281 $0 $531,528,281 $1,275,668 $52,705,892 $0 $52,705,892 $126,494 $584,234,173 $1,402,162 $23,299,193 27 2040 2041 $536,843,564 $0 $536,843,564 $1,288,425 $53,232,951 $0 $53,232,951 $127,759 $590,076,515 $1,416,184 $24,715,377 28 2041 2042 $542,211,999 $0 $542,211,999 $1,301,309 $53,765,281 $0 $53,765,281 $129,037 $595,977,280 $1,430,345 $26,145,722 29 2042 2043 $547,634,119 $0 $547,634,119 $1,314,322 $54,302,934 $0 $54,302,934 $130,327 $601,937,053 $1,444,649 $27,590,371 30 2043 2044 $553,110,460 $0 $553,110,460 $1,327,465 $54,845,963 $0 $54,845,963 $131,630 $607,956,423 $1,459,095 $29,049,467 31 2044 2045 $558,641,565 $0 $558,641,565 $1,340,740 $55,394,423 $0 $55,394,423 $132,947 $614,035,988 $1,473,686 $30,523,153 32 2045 2046 $564,227,981 $0 $564,227,981 $1,354,147 $55,948,367 $0 $55,948,367 $134,276 $620,176,348 $1,488,423 $32,011,576 33 2046 2047 $569,870,261 $0 $569,870,261 $1,367,689 $56,507,850 $0 $56,507,850 $135,619 $626,378,111 $1,503,307 $33,514,884 34 2047 2048 $575,568,963 $0 $575,568,963 $1,381,366 $57,072,929 $0 $57,072,929 $136,975 $632,641,892 $1,518,341 $35,033,224 35 2048 2049 $581,324,653 $0 $581,324,653 $1,395,179 $57,643,658 $0 $57,643,658 $138,345 $638,968,311 $1,533,524 $36,566,748 36 2049 2050 $587,137,899 $0 $587,137,899 $1,409,131 $58,220,095 $0 $58,220,095 $139,728 $645,357,994 $1,548,859 $38,115,607 37 2050 2051 $593,009,278 $0 $593,009,278 $1,423,222 $58,802,296 $0 $58,802,296 $141,126 $651,811,574 $1,564,348 $39,679,955 38 2051 2052 $598,939,371 $0 $598,939,371 $1,437,454 $59,390,319 $0 $59,390,319 $142,537 $658,329,690 $1,579,991 $41,259,946 39 2052 2053 $604,928,765 $0 $604,928,765 $1,451,829 $59,984,222 $0 $59,984,222 $143,962 $664,912,987 $1,595,791 $42,855,737 40 2052 2053 $610,978,052 $0 $610,978,052 $1,466,347 $60,584,064 $0 $60,584,064 $145,402 $671,562,117 $1,611,749 $44,467,487 Total for years 1-40 $448,676,269 $40,411,646 $44,290,567 $4,055,841 $44,467,487 Business Personal Property Total PropertyReal Property Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 19 Item 9 Schedule 6: Forecast of Real Property Tax increments to the TIF Fund Notes:Actual cash flow to a TIRZ fund depends on realized development volume, timing of development and taxable values. Cash flow may be more or less than this forecast. 2012 tax rates are assumed constant. Actual rates will be set annually. Prosper and Collin County commit to pay specified percentages of real property tax increments to the TIF fund for a term of twenty-five years. Cash flow to the TIRZ fund may be terminated earlier if and when the fund has no outstanding financial obligations. Prosper will stipulate obligations (for example, completion of specific improvements before a specific date) to be met before disbursement of cash from the TIF fund. If the TIF fund has insufficient cash to pay City administrative expenses for the TIF program, expenses are accrued until paid and shall be senior to all other claims on the TIF fund. 100% of Town rollback taxes due to switching from agricultural production value to market value as the basis for property taxation will flow to the TIF fund, but rollback taxes are not modeled in this schedule. Total value of Town property tax rollbacks for the TIF fund will approximate $500,000. (a) (b) (c)(d)(e)(f)(g)(h)(i)(j)(k)(l) Captured Total Town Tax Total County Tax From From For Tax Taxable Appraised on Captured % of on Captured % of Prosper County Appraisals Receipts Real Value of Appraised Town Appraised County Real Real on Jan. 1,Flow to Property Real Property Value @ RP Tax Value @ RP Tax Property Property TIRZ or Sales in TIF Fund (From (Taxable less $0.52 Increments $0.24 Increments Tax Tax Year Calendar by May 1, Schedule 4) 2013 base) Tax Rate To TIF Tax Rate To TIF Increments Increments Total Base 2013 2014 $29,413 $0 $0 0%$0 0%$0 $0 $0 1 2014 2015 $29,707 $294 $2 70%$1 50%$1 $0 $1 2 2015 2016 $25,628,286 $25,598,873 $133,114 70%$61,437 50% $93,180 $30,719 $123,899 3 2016 2017 $34,161,991 $34,132,578 $177,489 70%$81,918 50% $124,243 $40,959 $165,202 4 2017 2018 $54,853,335 $54,823,922 $285,084 70% $131,577 50% $199,559 $65,789 $265,348 5 2018 2019 $82,286,236 $82,256,823 $427,735 70% $197,416 50% $299,415 $98,708 $398,123 6 2019 2020 $111,995,165 $111,965,752 $582,222 70% $268,718 50% $407,555 $134,359 $541,914 7 2020 2021 $125,520,922 $125,491,509 $652,556 70% $301,180 50% $456,789 $150,590 $607,379 8 2021 2022 $158,440,226 $158,410,813 $823,736 70% $380,186 50% $576,615 $190,093 $766,708 9 2022 2023 $231,431,409 $231,401,996 $1,203,290 70% $555,365 50% $842,303 $277,682 $1,119,986 10 2023 2024 $287,503,377 $287,473,964 $1,494,865 70% $689,938 50% $1,046,405 $344,969 $1,391,374 11 2024 2025 $356,681,346 $356,651,933 $1,854,590 70% $855,965 50% $1,298,213 $427,982 $1,726,195 12 2025 2026 $395,822,341 $395,792,928 $2,058,123 70% $949,903 50% $1,440,686 $474,952 $1,915,638 13 2026 2027 $435,484,108 $435,454,695 $2,264,364 70% $1,045,091 50% $1,585,055 $522,546 $2,107,601 14 2027 2028 $471,704,361 $471,674,948 $2,452,710 70% $1,132,020 50% $1,716,897 $566,010 $2,282,907 15 2028 2029 $476,421,405 $476,391,992 $2,477,238 70% $1,143,341 50% $1,734,067 $571,670 $2,305,737 16 2029 2030 $481,185,619 $481,156,206 $2,502,012 70% $1,154,775 50% $1,751,409 $577,387 $2,328,796 17 2030 2031 $485,997,475 $485,968,062 $2,527,034 70% $1,166,323 50% $1,768,924 $583,162 $2,352,085 18 2031 2032 $490,857,450 $490,828,037 $2,552,306 70% $1,177,987 50% $1,786,614 $588,994 $2,375,608 19 2032 2033 $495,766,024 $495,736,611 $2,577,830 70% $1,189,768 50% $1,804,481 $594,884 $2,399,365 20 2033 2034 $500,723,684 $500,694,271 $2,603,610 70% $1,201,666 50% $1,822,527 $600,833 $2,423,360 21 2034 2035 $505,730,921 $505,701,508 $2,629,648 70% $1,213,684 50% $1,840,753 $606,842 $2,447,595 22 2035 2036 $510,788,230 $510,758,817 $2,655,946 70% $1,225,821 50% $1,859,162 $612,911 $2,472,073 23 2036 2037 $515,896,113 $515,866,700 $2,682,507 70% $1,238,080 50% $1,877,755 $619,040 $2,496,795 24 2037 2038 $521,055,074 $521,025,661 $2,709,333 70% $1,250,462 50% $1,896,533 $625,231 $2,521,764 25 2038 2039 $526,265,625 $526,236,212 $2,736,428 70% $1,262,967 50% $1,915,500 $631,483 $2,546,983 26 2039 2040 $531,528,281 $531,498,868 $2,763,794 0% $1,275,597 0%$0 $0 $0 27 2040 2041 $536,843,564 $536,814,151 $2,791,434 0% $1,288,354 0%$0 $0 $0 28 2041 2042 $542,211,999 $542,182,586 $2,819,349 0% $1,301,238 0%$0 $0 $0 29 2042 2043 $547,634,119 $547,604,706 $2,847,544 0% $1,314,251 0%$0 $0 $0 30 2043 2044 $553,110,460 $553,081,047 $2,876,021 0% $1,327,395 0%$0 $0 $0 31 2044 2045 $558,641,565 $558,612,152 $2,904,783 0% $1,340,669 0%$0 $0 $0 32 2045 2046 $564,227,981 $564,198,568 $2,933,833 0% $1,354,077 0%$0 $0 $0 33 2046 2047 $569,870,261 $569,840,848 $2,963,172 0% $1,367,618 0%$0 $0 $0 34 2047 2048 $575,568,963 $575,539,550 $2,992,806 0% $1,381,295 0%$0 $0 $0 35 2048 2049 $581,324,653 $581,295,240 $3,022,735 0% $1,395,109 0%$0 $0 $0 36 2049 2050 $587,137,899 $587,108,486 $3,052,964 0% $1,409,060 0%$0 $0 $0 37 2050 2051 $593,009,278 $592,979,865 $3,083,495 0% $1,423,152 0%$0 $0 $0 38 2051 2052 $598,939,371 $598,909,958 $3,114,332 0% $1,437,384 0%$0 $0 $0 39 2052 2053 $604,928,765 $604,899,352 $3,145,477 0% $1,451,758 0%$0 $0 $0 40 2053 2054 $610,978,052 $610,948,639 $3,176,933 0% $1,466,277 0%$0 $0 $0 Total for years 1-40 $87,552,447 $40,408,822 $30,144,642 $9,937,794 $40,082,436 Captured Appraised Values and Real Property Tax Increments Property Tax to the TIF Fund Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 20 Item 9 Schedule 7: Forecast of Taxable Sales from Stores, Restaurants and Cinemas in the TIRZ, in 2012 Dollars Part A: Cumulative Square Feet of Gross Floor Area Notes: Statistics about retail store type, floor area and completion year are from a separate schedule. Restaurants and shops within hotels are not included here. Taxable sales and taxes from hotels are forecast in other schedules. (a)(b)(c)(d)(e)(f)(g) Retail SF Ready for on Property Roll Occupancy Big Box General All as of Jan. 1,July 1,Retail Retail Restaurant Cinema Named Categories 2015 2014 0 0 0 0 0 2016 2015 0 0 0 0 0 2017 2016 50,000 20,000 22,000 0 92,000 2018 2017 50,000 20,000 32,000 0 102,000 2019 2018 50,000 40,000 38,000 0 128,000 2020 2019 50,000 40,000 58,000 40,000 188,000 2021 2020 50,000 75,000 58,000 40,000 223,000 2022 2021 100,000 255,000 76,000 40,000 471,000 2023 2022 100,000 255,000 76,000 40,000 471,000 2024 2023 150,000 292,000 94,000 40,000 576,000 2025 2024 150,000 342,000 106,000 40,000 638,000 2026 2025 150,000 342,000 106,000 40,000 638,000 2027 2026 150,000 342,000 111,000 40,000 643,000 2028 2027 150,000 362,000 120,000 40,000 672,000 Part B: Annual Sales Volume Subject to Municipal Sales Tax, in 2012 Dollars (Before Inflation) Notes: Gross floor areas are as assumed in Part A. Stated percentages of store spaces are assumed occupied when space is ready for occupancy on July 1 of each year. This may overstate sales for the initial years. Sales from July 1 through December are assumed to constitute 60% of annual sales. Sales per square foot of gross floor area are estimates by Stein Planning, LLC, based on norms that may vary widely. Food for home preparation, health items, alcoholic beverages, autos, gasoline, tax holiday items and items for resale are not subject to municipal sales tax. Percentages of sales that are taxable are an allowance for exemptions and discounts to merchants for timely tax payments. (a)(b)(c)(d)(e)(f) If Big Box If General If Restaurant If Cinema Retail Sales Are Retail Sales Are Sales Are Sales Are $225 $225 $400 $120 Annual Sales 95%95%98%98% Forecast Through Dec. 31,95%90%90%95%All Taxable Sales 2014 $0 $0 $0 $0 $0 2015 $0 $0 $0 $0 $0 2016 $6,091,875 $2,308,500 $4,656,960 $0 $13,057,335 2017 $10,153,125 $3,847,500 $9,878,400 $0 $23,879,025 2018 $10,153,125 $6,156,000 $12,559,680 $0 $28,868,805 2019 $10,153,125 $7,695,000 $17,640,000 $2,681,280 $38,169,405 2020 $10,153,125 $11,734,875 $20,462,400 $4,468,800 $46,819,200 2021 $16,245,000 $35,204,625 $24,272,640 $4,468,800 $80,191,065 2022 $20,306,250 $49,055,625 $26,812,800 $4,468,800 $100,643,475 2023 $26,398,125 $53,326,350 $30,623,040 $4,468,800 $114,816,315 2024 $30,459,375 $61,944,750 $35,703,360 $4,468,800 $132,576,285 2025 $30,459,375 $65,792,250 $37,396,800 $4,468,800 $138,117,225 2026 $30,459,375 $65,792,250 $38,455,200 $4,468,800 $139,175,625 2027 $30,459,375 $68,100,750 $41,065,920 $4,468,800 $144,094,845 per Square Foot of Gross Floor Area; And If Occupancy is: If Taxable Sales are These Percentages of Volume: Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 21 Item 9 Schedule 8: Forecast of Hotel Sales, Town Hotel Occupancy Tax and Hotel Sales Subject to Sales Tax Notes:This assumes a hotel with 60,000 square feet of gross floor area opens by January 1, 2017 and a hotel with 300,000 opens by January 1, 2023. Number of rooms assumes 925 square feet of gross floor area per room. Revenue per available room is based on Texas Comptroller records from four recent quarters for similarly sized hotels in neighboring Frisco, Texas. Uses for hotel occupancy tax are limited to convention facilities and other items specified by Texas law. Hotel food and shop sales typically range from $0 to 40% of room revenue, depending on the type of hotel. (a) (b)(c)(d)(e)(f)(g)(h)(i)(j)(k) Town Hotel Hotel Items Subject to Town Taxable Nightly Taxable Nightly Total Annual Taxable Occupancy Sales Tax, If Receives RevPAR (Room RevPAR (Room Annual Taxable Room Revenue Tax @ 20% Sales Hotel Revenue per Revenue per Room Revenue Inflated 7.00%of Taxable Room Sales TIRZ Through Occupancy Available Available Room,Available Available Room), for 365 Nights,1.00%Based on Room on Second Hotel, in 2012 $ Year Dec. 31, Tax by May 1,Rooms in 2012 Dollars Rooms in 2012 Dollars in 2012 Dollars Annually from 1/1/12 Revenue as Inflated (to Schedule 9) Base 2013 2014 0 $0 0 $0 $0 $0 $0 $0 1 2014 2015 0 $0 0 $0 $0 $0 $0 $0 2 2015 2016 0 $0 0 $0 $0 $0 $0 $0 3 2016 2017 0 $0 0 $0 $0 $0 $0 $0 4 2017 2018 65 $46 0 $0 $1,091,350 $1,158,490 $81,094 $0 5 2018 2019 65 $46 0 $0 $1,091,350 $1,170,075 $81,905 $0 6 2019 2020 65 $46 0 $0 $1,091,350 $1,181,776 $82,724 $0 7 2020 2021 65 $46 0 $0 $1,091,350 $1,193,593 $83,552 $0 8 2021 2022 65 $46 0 $0 $1,091,350 $1,205,529 $84,387 $0 9 2022 2023 65 $46 0 $0 $1,091,350 $1,217,585 $85,231 $0 10 2023 2024 65 $46 324 $94 $12,207,790 $13,756,043 $962,923 $2,223,288 11 2024 2025 65 $46 324 $94 $12,207,790 $13,893,604 $972,552 $2,223,288 12 2025 2026 65 $46 324 $94 $12,207,790 $14,032,540 $982,278 $2,223,288 13 2026 2027 65 $46 324 $94 $12,207,790 $14,172,865 $992,101 $2,223,288 14 2027 2028 65 $46 324 $94 $12,207,790 $14,314,594 $1,002,022 $2,223,288 15 2028 2029 65 $46 324 $94 $12,207,790 $14,457,740 $1,012,042 $2,223,288 16 2029 2030 65 $46 324 $94 $12,207,790 $14,602,317 $1,022,162 $2,223,288 17 2030 2031 65 $46 324 $94 $12,207,790 $14,748,340 $1,032,384 $2,223,288 18 2031 2032 65 $46 324 $94 $12,207,790 $14,895,824 $1,042,708 $2,223,288 19 2032 2033 65 $46 324 $94 $12,207,790 $15,044,782 $1,053,135 $2,223,288 20 2033 2034 65 $46 324 $94 $12,207,790 $15,195,230 $1,063,666 $2,223,288 21 2034 2035 65 $46 324 $94 $12,207,790 $15,347,182 $1,074,303 $2,223,288 22 2035 2036 65 $46 324 $94 $12,207,790 $15,500,654 $1,085,046 $2,223,288 23 2036 2037 65 $46 324 $94 $12,207,790 $15,655,660 $1,095,896 $2,223,288 24 2037 2038 65 $46 324 $94 $12,207,790 $15,812,217 $1,106,855 $2,223,288 25 2038 2039 65 $46 324 $94 $12,207,790 $15,970,339 $1,117,924 $2,223,288 26 2039 2040 65 $46 324 $94 $12,207,790 $16,130,043 $1,129,103 $2,223,288 27 2040 2041 65 $46 324 $94 $12,207,790 $16,291,343 $1,140,394 $2,223,288 28 2041 2042 65 $46 324 $94 $12,207,790 $16,454,257 $1,151,798 $2,223,288 29 2042 2043 65 $46 324 $94 $12,207,790 $16,618,799 $1,163,316 $2,223,288 30 2043 2044 65 $46 324 $94 $12,207,790 $16,784,987 $1,174,949 $2,223,288 31 2044 2045 65 $46 324 $94 $12,207,790 $16,952,837 $1,186,699 $2,223,288 32 2045 2046 65 $46 324 $94 $12,207,790 $17,122,365 $1,198,566 $2,223,288 33 2046 2047 65 $46 324 $94 $12,207,790 $17,293,589 $1,210,551 $2,223,288 34 2047 2048 65 $46 324 $94 $12,207,790 $17,466,525 $1,222,657 $2,223,288 35 2048 2049 65 $46 324 $94 $12,207,790 $17,641,190 $1,234,883 $2,223,288 36 2049 2050 65 $46 324 $94 $12,207,790 $17,817,602 $1,247,232 $2,223,288 37 2050 2051 65 $46 324 $94 $12,207,790 $17,995,778 $1,259,704 $2,223,288 38 2051 2052 65 $46 324 $94 $12,207,790 $18,175,736 $1,272,302 $2,223,288 39 2052 2053 65 $46 324 $94 $12,207,790 $18,357,493 $1,285,025 $2,223,288 40 2053 2054 65 $46 324 $94 $12,207,790 $18,541,068 $1,297,875 $2,223,288 Total for years 1-40 $504,170,591 $35,291,941 $68,921,928 First Hotel Second Hotel Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 22 Item 9 Schedule 9: Forecast of Total Municipal Sales Tax Generated in the TIRZ Notes:Because little or no sales tax was generated in the TIRZ in base year 2012, all sales volume subject to sales tax in future years is assumed to be incremental sales. Sales volume and sales tax depend on actual development volume, timing of development, tenants, and other factors. They may be more or less than this forecast. Annual sales volume forecasts of construction materials used in the zone (provided delivery is taken in the zone) are based on assumptions that (a) materials are delivered in the zone in the twelve months before a project appears on the tax roll as completed; (b) improvement values are 75% of total project value; (c) materials are 30% of improvement value, (d) taxable value is 80% of actual project value and (e) some slippage occurs in that some deliveries are taken outside the TIRZ. The assumed conversion to non-agricultural value on Jan. 1, 2015 does not trigger sales tax. (a) (b) (c)(d)(e)(f)(g)(h)(i)(j)(k)(l) For Construction Sales, If Sales Tax From Stores, From Hotel Materials Are Receipts Restaurants Food and 25%Total, Credited to and Cinemas, Shop Sales, of Taxable Real Property If Inflated Prosper Prosper Sales Designated In 2012 Dollars In 2012 Dollars Value Added to Roll 1.00% Prosper EDC Property Tax TIRZ Through Account (From (From Through Dec. 31 of Year,Total, Annually General @ 4A @ Relief @ Total @ Year Dec. 31, by May 1, Schedule 7) Schedule 8) In 2012 Dollars In 2012 Dollars After 12/31/12 1.00% 0.50% 0.50% 2.00% Base 2013 2014 $0 $0 $0 $0 $0 $0 $0 $0 $0 1 2014 2015 $0 $0 $0 $0 $0 $0 $0 $0 $0 2 2015 2016 $0 $0 $1,950,000 $1,950,000 $2,009,087 $20,091 $10,045 $10,045 $40,182 3 2016 2017 $13,057,335 $0 $4,700,000 $17,757,335 $18,478,354 $184,784 $92,392 $92,392 $369,567 4 2017 2018 $23,879,025 $0 $6,087,500 $29,966,525 $31,495,119 $314,951 $157,476 $157,476 $629,902 5 2018 2019 $28,868,805 $0 $6,412,500 $35,281,305 $37,451,816 $374,518 $187,259 $187,259 $749,036 6 2019 2020 $38,169,405 $0 $2,700,000 $40,869,405 $43,817,534 $438,175 $219,088 $219,088 $876,351 7 2020 2021 $46,819,200 $0 $6,756,250 $53,575,450 $58,014,535 $580,145 $290,073 $290,073 $1,160,291 8 2021 2022 $80,191,065 $0 $14,937,500 $95,128,565 $104,040,711 $1,040,407 $520,204 $520,204 $2,080,814 9 2022 2023 $100,643,475 $0 $11,025,000 $111,668,475 $123,351,468 $1,233,515 $616,757 $616,757 $2,467,029 10 2023 2024 $114,816,315 $2,223,288 $13,331,250 $130,370,853 $145,450,634 $1,454,506 $727,253 $727,253 $2,909,013 11 2024 2025 $132,576,285 $2,223,288 $7,012,500 $141,812,073 $159,797,393 $1,597,974 $798,987 $798,987 $3,195,948 12 2025 2026 $138,117,225 $2,223,288 $6,900,000 $147,240,513 $167,573,438 $1,675,734 $837,867 $837,867 $3,351,469 13 2026 2027 $139,175,625 $2,223,288 $6,037,500 $147,436,413 $169,474,355 $1,694,744 $847,372 $847,372 $3,389,487 14 2027 2028 $144,094,845 $2,223,288 $6,962,500 $153,280,633 $177,954,056 $1,779,541 $889,770 $889,770 $3,559,081 15 2028 2029 $144,094,845 $2,223,288 $0 $146,318,133 $171,569,518 $1,715,695 $857,848 $857,848 $3,431,390 16 2029 2030 $144,094,845 $2,223,288 $0 $146,318,133 $173,285,213 $1,732,852 $866,426 $866,426 $3,465,704 17 2030 2031 $144,094,845 $2,223,288 $0 $146,318,133 $175,018,065 $1,750,181 $875,090 $875,090 $3,500,361 18 2031 2032 $144,094,845 $2,223,288 $0 $146,318,133 $176,768,246 $1,767,682 $883,841 $883,841 $3,535,365 19 2032 2033 $144,094,845 $2,223,288 $0 $146,318,133 $178,535,929 $1,785,359 $892,680 $892,680 $3,570,719 20 2033 2034 $144,094,845 $2,223,288 $0 $146,318,133 $180,321,288 $1,803,213 $901,606 $901,606 $3,606,426 21 2034 2035 $144,094,845 $2,223,288 $0 $146,318,133 $182,124,501 $1,821,245 $910,623 $910,623 $3,642,490 22 2035 2036 $144,094,845 $2,223,288 $0 $146,318,133 $183,945,746 $1,839,457 $919,729 $919,729 $3,678,915 23 2036 2037 $144,094,845 $2,223,288 $0 $146,318,133 $185,785,203 $1,857,852 $928,926 $928,926 $3,715,704 24 2037 2038 $144,094,845 $2,223,288 $0 $146,318,133 $187,643,055 $1,876,431 $938,215 $938,215 $3,752,861 25 2038 2039 $144,094,845 $2,223,288 $0 $146,318,133 $189,519,486 $1,895,195 $947,597 $947,597 $3,790,390 26 2039 2040 $144,094,845 $2,223,288 $0 $146,318,133 $191,414,681 $1,914,147 $957,073 $957,073 $3,828,294 27 2040 2041 $144,094,845 $2,223,288 $0 $146,318,133 $193,328,827 $1,933,288 $966,644 $966,644 $3,866,577 28 2041 2042 $144,094,845 $2,223,288 $0 $146,318,133 $195,262,116 $1,952,621 $976,311 $976,311 $3,905,242 29 2042 2043 $144,094,845 $2,223,288 $0 $146,318,133 $197,214,737 $1,972,147 $986,074 $986,074 $3,944,295 30 2043 2044 $144,094,845 $2,223,288 $0 $146,318,133 $199,186,884 $1,991,869 $995,934 $995,934 $3,983,738 31 2044 2045 $144,094,845 $2,223,288 $0 $146,318,133 $201,178,753 $2,011,788 $1,005,894 $1,005,894 $4,023,575 32 2045 2046 $144,094,845 $2,223,288 $0 $146,318,133 $203,190,541 $2,031,905 $1,015,953 $1,015,953 $4,063,811 33 2046 2047 $144,094,845 $2,223,288 $0 $146,318,133 $205,222,446 $2,052,224 $1,026,112 $1,026,112 $4,104,449 34 2047 2048 $144,094,845 $2,223,288 $0 $146,318,133 $207,274,670 $2,072,747 $1,036,373 $1,036,373 $4,145,493 35 2048 2049 $144,094,845 $2,223,288 $0 $146,318,133 $209,347,417 $2,093,474 $1,046,737 $1,046,737 $4,186,948 36 2049 2050 $144,094,845 $2,223,288 $0 $146,318,133 $211,440,891 $2,114,409 $1,057,204 $1,057,204 $4,228,818 37 2050 2051 $144,094,845 $2,223,288 $0 $146,318,133 $213,555,300 $2,135,553 $1,067,777 $1,067,777 $4,271,106 38 2051 2052 $144,094,845 $2,223,288 $0 $146,318,133 $215,690,853 $2,156,909 $1,078,454 $1,078,454 $4,313,817 39 2052 2053 $144,094,845 $2,223,288 $0 $146,318,133 $217,847,762 $2,178,478 $1,089,239 $1,089,239 $4,356,955 40 2053 2054 $144,094,845 $2,223,288 $0 $146,318,133 $220,026,239 $2,200,262 $1,100,131 $1,100,131 $4,400,525 Total for Years 1-40 $4,746,874,575 $68,921,928 $94,812,500 $4,910,609,003 $6,304,606,869 $63,046,069 $31,523,034 $31,523,034 $126,092,137 Annual Taxable Sales Volume Forecast Total Local Sales Tax, Based on Sales Volume as Inflated Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 23 Item 9 Schedule 10: Town of Prosper General Sales Tax for the TIF Fund Notes:Sales volume and sales tax depend on actual development volume, timing of development, tenants, and other factors. They may be more or less than this forecast. The Town of Prosper commits to pay the specified percentages of sales tax, subject to specific conditions A commitment of 33 years is modeled in this schedule. (a) (b)(c)(d)(e)(f) Tax Total Receipts Town General Sales Flow to Sales Tax @ TIRZ Through TIF Fund 1.00% Year Dec. 31, by May 1, from Schedule 9)%Amount Base 2013 2014 $0 0%$0 1 2014 2015 $0 25%$0 2 2015 2016 $20,091 25%$5,023 3 2016 2017 $184,784 25%$46,196 4 2017 2018 $314,951 25%$78,738 5 2018 2019 $374,518 25%$93,630 6 2019 2020 $438,175 25% $109,544 7 2020 2021 $580,145 25% $145,036 8 2021 2022 $1,040,407 25% $260,102 9 2022 2023 $1,233,515 25% $308,379 10 2023 2024 $1,454,506 25% $363,627 11 2024 2025 $1,597,974 25% $399,493 12 2025 2026 $1,675,734 25% $418,934 13 2026 2027 $1,694,744 25% $423,686 14 2027 2028 $1,779,541 25% $444,885 15 2028 2029 $1,715,695 25% $428,924 16 2029 2030 $1,732,852 25% $433,213 17 2030 2031 $1,750,181 25% $437,545 18 2031 2032 $1,767,682 25% $441,921 19 2032 2033 $1,785,359 25% $446,340 20 2033 2034 $1,803,213 25% $450,803 21 2034 2035 $1,821,245 25% $455,311 22 2035 2036 $1,839,457 25% $459,864 23 2036 2037 $1,857,852 25% $464,463 24 2037 2038 $1,876,431 25% $469,108 25 2038 2039 $1,895,195 25% $473,799 26 2039 2040 $1,914,147 0%$0 27 2040 2041 $1,933,288 0%$0 28 2041 2042 $1,952,621 0%$0 29 2042 2043 $1,972,147 0%$0 30 2043 2044 $1,991,869 0%$0 31 2044 2045 $2,011,788 0%$0 32 2045 2046 $2,031,905 0%$0 33 2046 2047 $2,052,224 0%$0 34 2047 2048 $2,072,747 0%$0 35 2048 2049 $2,093,474 0%$0 36 2049 2050 $2,114,409 0%$0 37 2050 2051 $2,135,553 0%$0 38 2051 2052 $2,156,909 0%$0 39 2052 2053 $2,178,478 0%$0 40 2053 2054 $2,200,262 0%$0 Total for Years 1-40 $63,046,069 $8,058,562 to the TIF Fund of General Sales Tax Town Commitment Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 24 Item 9 Schedule 11: Forecast of Prosper EDC 4A Sales Tax Grants for Prosper West Infrastructure Notes and assumptions: The Prosper Economic Development Corporation ("PEDC") paid $500,000 to MSW Prosper 380, LP ("Company") in early 2013. The PEDC agrees to pay through annual grants an additional $1,500,000 plus interest to Company, provided Company has expended a total of $2,000,000 for infrastructure and meets other standards of performance. The PEDC will pay simple interest on the principal balance Company has advanced for infrastructure (up to the stated grant amount) at these annual rates: Through year 5:1.5%Year 6 forward: Prime plus 2%, not to exceed 4.5% The PEDC may grant Company an additional $1,000,000 of 4A revenue, provided Company has met a performance standard described in an agreement executed December 31, 2012, plus interest. That potential additional grant from the PEDC has not been assumed in this schedule. After reimbursements pledged to Company have been fulfilled, the PEDC will pay to the TIF fund 50% of annual 4A sales tax receipts earned from the TIRZ as further grants for economic development of the TIRZ. The year of fulfillment is uncertain. Annual payments of 4A sales tax to the PEDC are assumed to start in Year 14 (April 1, 2028), but may start later. Part of the values boxed in column (h) could flow to Company as a PEDC grant of $1 million plus interest. If awarded, fulfillment of such grant may displace in part the flow of 4A sales tax to the TIF Fund. (a) (b) (c)(d)(e)(f)(g)(h)(i) Assume Total Estimated Estimated Interest Accrued Balance of PEDC Grants Tax Receipts 4A Sales Tax @ PEDC Payment P & I Obligation on Previous Year 4A Sales Tax 50% Sales Flow to 0.50%to Company for P & I to Company by PEDC Principal Not Applied of 4A Sales Tax TIRZ Through Recipients from TIRZ by April 1 per Initial on April 1 of Balance Owed to Initial Incentive Earned in the TIRZ Year Dec. 31, by April 1, (from Schedule 9) Incentive Agreement Column (c) Year to Company Agreement to TIF Fund -1 2013 $0 $500,000 $0 $0 $0 $0 Base 2013 2014 $0 $0 $0 $0 $0 $0 1 2014 2015 $0 $0 $0 $0 $0 $0 2 2015 2016 $10,045 $0 $1,500,000 $0 $10,045 $0 3 2016 2017 $92,392 $46,196 $1,476,304 $22,500 $46,196 $0 4 2017 2018 $157,476 $78,738 $1,419,711 $22,145 $78,738 $0 5 2018 2019 $187,259 $93,630 $1,389,968 $63,887 $93,630 $0 6 2019 2020 $219,088 $109,544 $1,342,973 $62,549 $109,544 $0 7 2020 2021 $290,073 $145,036 $1,258,371 $60,434 $145,036 $0 8 2021 2022 $520,204 $260,102 $1,054,895 $56,627 $260,102 $0 9 2022 2023 $616,757 $308,379 $793,987 $47,470 $308,379 $0 10 2023 2024 $727,253 $363,627 $466,090 $35,729 $363,627 $0 11 2024 2025 $798,987 $399,493 $87,570 $20,974 $399,493 $0 12 2025 2026 $837,867 $91,511 $0 $3,941 $746,356 $0 13 2026 2027 $847,372 $0 $0 $0 $847,372 $0 14 2027 2028 $889,770 $0 $0 $0 $889,770 $0 15 2028 2029 $857,848 $0 $0 $0 $857,848 $428,924 16 2029 2030 $866,426 $0 $0 $0 $866,426 $433,213 17 2030 2031 $875,090 $0 $0 $0 $875,090 $437,545 18 2031 2032 $883,841 $0 $0 $0 $883,841 $441,921 19 2032 2033 $892,680 $0 $0 $0 $892,680 $446,340 20 2033 2034 $901,606 $0 $0 $0 $901,606 $450,803 21 2034 2035 $910,623 $0 $0 $0 $910,623 $455,311 22 2035 2036 $919,729 $0 $0 $0 $919,729 $459,864 23 2036 2037 $928,926 $0 $0 $0 $928,926 $464,463 24 2037 2038 $938,215 $0 $0 $0 $938,215 $469,108 25 2038 2039 $947,597 $0 $0 $0 $947,597 $473,799 26 2039 2040 $957,073 $0 $0 $0 $957,073 $0 27 2040 2041 $966,644 $0 $0 $0 $966,644 $0 28 2041 2042 $976,311 $0 $0 $0 $976,311 $0 29 2042 2043 $986,074 $0 $0 $0 $986,074 $0 30 2043 2044 $995,934 $0 $0 $0 $995,934 $0 31 2044 2045 $1,005,894 $0 $0 $0 $1,005,894 $0 32 2045 2046 $1,015,953 $0 $0 $0 $1,015,953 $0 33 2046 2047 $1,026,112 $0 $0 $0 $1,026,112 $0 34 2047 2048 $1,036,373 $0 $0 $0 $1,036,373 $0 35 2048 2049 $1,046,737 $0 $0 $0 $1,046,737 $0 36 2049 2050 $1,057,204 $0 $0 $0 $1,057,204 $0 37 2050 2051 $1,067,777 $0 $0 $0 $1,067,777 $0 38 2051 2052 $1,078,454 $0 $0 $0 $1,078,454 $0 39 2052 2053 $1,089,239 $0 $0 $0 $1,089,239 $0 40 2053 2054 $1,100,131 $0 $0 $0 $1,100,131 $0 Total through Year 40 $31,523,034 $2,396,255 $396,255 $29,626,779 $4,961,291 Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 25 Item 9 Schedule 12: Prospective Cash Flow for Prosper West from All Local Public Sources Notes: Actual cash flow depends on realized development volume, timing of development and taxable values. Cash flow may be more or less than this forecast. Prosper and the PEDC will execute development agreements stipulating obligations of the parties before disbursement of cash from these sources. Uses for these various taxes and grants are limited to items specified by Texas law and may be further limited by Town or County agreements. Development fees and impact fees paid in the TIRZ may fund a grant for economic development by the Town. These reimbursements are not shown in this schedule. *100% of Town of Prosper "rollback" tax from converting agricultural land in the TIRZ to non-agricultural use flows to the TIF fund. If due and paid in 2016, estimated Town rollback tax would approximate $640,000. Receipt of that amount is added into this schedule for May 2016. (a) (b)(c)(d)(e)(f)(g)(h)(i)(j)(k)(l)(m)(n) Less 2013 Present Value Tax Town Collin County Town Estimated Prospective of Cumulative For Receipts Real Property Real Property General to Company to TIF Fund Possible Accrued TIRZ Total Total to TIF Fund, Appraisals Flow to Tax Tax Sales Tax Subtotal per Incentive per Supplement Administrative to TIF Fund Net of Admin., on Jan. 1, the TIF Increments Increments Increments to TIF Fund Agreement Agreement to Company Prospective Expenses @ Net of TIRZ If Annually TIRZ or Sales in Fund (From (From (From Before PEDC (from (from (from Total $40,000 Administrative Discounted @ Year Calendar by May 1, Schedule 6)* Schedule 6) Schedule 10)Payments Schedule 11) Schedule 11) Schedule 11) to TIF Fund Plus Inflation Expenses 3.50% Base 2013 2014 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 1 2014 2015 $1 $0 $0 $1 $0 $0 $0 $1 $0 $1 $1 2 2015 2016 $733,180 $30,719 $5,023 $768,921 $0 $0 $0 $768,921 $122,416 $646,505 $603,521 3 2016 2017 $124,243 $40,959 $46,196 $211,398 $46,196 $0 $0 $211,398 $42,448 $168,949 $755,903 4 2017 2018 $199,559 $65,789 $78,738 $344,086 $78,738 $0 $0 $344,086 $43,297 $300,788 $1,018,023 5 2018 2019 $299,415 $98,708 $93,630 $491,753 $93,630 $0 $0 $491,753 $44,163 $447,589 $1,394,881 6 2019 2020 $407,555 $134,359 $109,544 $651,458 $109,544 $0 $0 $651,458 $45,046 $606,412 $1,888,198 7 2020 2021 $456,789 $150,590 $145,036 $752,415 $145,036 $0 $0 $752,415 $45,947 $706,468 $2,443,475 8 2021 2022 $576,615 $190,093 $260,102 $1,026,810 $260,102 $0 $0 $1,026,810 $46,866 $979,944 $3,187,655 9 2022 2023 $842,303 $277,682 $308,379 $1,428,364 $308,379 $0 $0 $1,428,364 $47,804 $1,380,561 $4,200,616 10 2023 2024 $1,046,405 $344,969 $363,627 $1,755,001 $363,627 $0 $0 $1,755,001 $48,760 $1,706,241 $5,410,202 11 2024 2025 $1,298,213 $427,982 $399,493 $2,125,689 $399,493 $0 $0 $2,125,689 $49,735 $2,075,954 $6,832,117 12 2025 2026 $1,440,686 $474,952 $418,934 $2,334,571 $91,511 $0 $373,178 $2,334,571 $50,730 $2,283,842 $8,343,526 13 2026 2027 $1,585,055 $522,546 $423,686 $2,531,287 $0 $0 $423,686 $2,531,287 $51,744 $2,479,542 $9,928,955 14 2027 2028 $1,716,897 $566,010 $444,885 $2,727,792 $0 $0 $444,885 $2,727,792 $52,779 $2,675,013 $11,581,530 15 2028 2029 $1,734,067 $571,670 $428,924 $2,734,661 $0 $428,924 $0 $3,163,585 $53,835 $3,109,750 $13,437,710 16 2029 2030 $1,751,409 $577,387 $433,213 $2,762,009 $0 $433,213 $0 $3,195,222 $54,911 $3,140,311 $15,248,746 17 2030 2031 $1,768,924 $583,162 $437,545 $2,789,631 $0 $437,545 $0 $3,227,176 $56,010 $3,171,166 $17,015,732 18 2031 2032 $1,786,614 $588,994 $441,921 $2,817,528 $0 $441,921 $0 $3,259,449 $57,130 $3,202,319 $18,739,736 19 2032 2033 $1,804,481 $594,884 $446,340 $2,845,705 $0 $446,340 $0 $3,292,045 $58,272 $3,233,772 $20,421,801 20 2033 2034 $1,822,527 $600,833 $450,803 $2,874,163 $0 $450,803 $0 $3,324,967 $59,438 $3,265,529 $22,062,944 21 2034 2035 $1,840,753 $606,842 $455,311 $2,902,907 $0 $455,311 $0 $3,358,218 $60,627 $3,297,591 $23,664,159 22 2035 2036 $1,859,162 $612,911 $459,864 $2,931,937 $0 $459,864 $0 $3,391,801 $61,839 $3,329,962 $25,226,413 23 2036 2037 $1,877,755 $619,040 $464,463 $2,961,258 $0 $464,463 $0 $3,425,721 $63,076 $3,362,645 $26,750,651 24 2037 2038 $1,896,533 $625,231 $469,108 $2,990,872 $0 $469,108 $0 $3,459,979 $64,337 $3,395,642 $28,237,797 25 2038 2039 $1,915,500 $631,483 $473,799 $3,020,782 $0 $473,799 $0 $3,494,581 $65,624 $3,428,956 $29,688,749 26 2039 2040 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 27 2040 2041 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 28 2041 2042 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 29 2042 2043 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 30 2043 2044 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 31 2044 2045 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 32 2045 2046 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 33 2046 2047 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Total for Base through Duration $30,784,642 $9,937,794 $8,058,562 $48,780,998 $1,896,255 $4,961,291 $1,241,749 $53,742,289 $1,346,836 $52,395,453 % to TIF Fund, by source 63% 20% 17% 100% % of total prospective local public funds for Prosper West improvements, by source 57% 18% 15% 91%4%9%2% 100% Tax to the TIF Fund Before PEDC Payments PEDG Grants of 4A Sales Tax Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 26 Item 9 Schedule 13: Tax from Prosper West Retained for Prosper General Fund and Prosper EDC Notes:Town of Prosper rollback taxes due to switching from agricultural production value to market value flow to the TIF fund. Actual cash flow depends on realized development volume, timing of development and taxable values. Cash flow may be more or less than this forecast. (a) (b)(c)(d)(e)(f)(g)(h)(i) For Appraisals Tax Receipts Total Tax Tax from TIRZ on Jan. 1, After Payments Business Property Tax Retained Retained TIRZ or Sales in to TIF Fund (If Real Personal General Relief For Town for Prosper Year Calendar Any) by May 1, Property Tax Property Tax Sales Tax Sales Tax General Fund EDC Base 2013 2014 $153 $0 $0 $0 $153 $0 1 2014 2015 $153 $0 $0 $0 $153 $0 2 2015 2016 $40,087 $6,492 $15,068 $10,045 $71,693 $10,045 3 2016 2017 $53,400 $23,995 $138,588 $92,392 $308,374 $46,196 4 2017 2018 $85,678 $31,552 $236,213 $157,476 $510,919 $78,738 5 2018 2019 $128,474 $41,513 $280,889 $187,259 $638,134 $93,630 6 2019 2020 $174,820 $48,955 $328,632 $219,088 $771,494 $109,544 7 2020 2021 $195,920 $61,839 $435,109 $290,073 $982,940 $145,036 8 2021 2022 $247,274 $117,535 $780,305 $520,204 $1,665,317 $260,102 9 2022 2023 $361,140 $133,625 $925,136 $616,757 $2,036,658 $308,379 10 2023 2024 $448,612 $175,941 $1,090,880 $727,253 $2,442,687 $363,627 11 2024 2025 $556,530 $206,214 $1,198,480 $798,987 $2,760,211 $399,493 12 2025 2026 $617,590 $216,190 $1,256,801 $837,867 $2,928,448 $746,356 13 2026 2027 $679,462 $227,433 $1,271,058 $847,372 $3,025,324 $847,372 14 2027 2028 $735,966 $243,224 $1,334,655 $889,770 $3,203,615 $889,770 15 2028 2029 $743,324 $245,656 $1,286,771 $857,848 $3,133,599 $428,924 16 2029 2030 $750,757 $248,113 $1,299,639 $866,426 $3,164,934 $433,213 17 2030 2031 $758,263 $250,594 $1,312,635 $875,090 $3,196,583 $437,545 18 2031 2032 $765,845 $253,100 $1,325,762 $883,841 $3,228,547 $441,921 19 2032 2033 $773,502 $255,631 $1,339,019 $892,680 $3,260,832 $446,340 20 2033 2034 $781,236 $258,187 $1,352,410 $901,606 $3,293,439 $450,803 21 2034 2035 $789,047 $260,769 $1,365,934 $910,623 $3,326,372 $455,311 22 2035 2036 $796,937 $263,376 $1,379,593 $919,729 $3,359,635 $459,864 23 2036 2037 $804,905 $266,010 $1,393,389 $928,926 $3,393,230 $464,463 24 2037 2038 $812,953 $268,670 $1,407,323 $938,215 $3,427,162 $469,108 25 2038 2039 $821,081 $271,357 $1,421,396 $947,597 $3,461,432 $473,799 26 2039 2040 $2,763,947 $274,071 $1,914,147 $957,073 $5,909,238 $957,073 27 2040 2041 $2,791,587 $276,811 $1,933,288 $966,644 $5,968,330 $966,644 28 2041 2042 $2,819,502 $279,579 $1,952,621 $976,311 $6,028,014 $976,311 29 2042 2043 $2,847,697 $282,375 $1,972,147 $986,074 $6,088,294 $986,074 30 2043 2044 $2,876,174 $285,199 $1,991,869 $995,934 $6,149,177 $995,934 31 2044 2045 $2,904,936 $288,051 $2,011,788 $1,005,894 $6,210,668 $1,005,894 32 2045 2046 $2,933,985 $290,932 $2,031,905 $1,015,953 $6,272,775 $1,015,953 33 2046 2047 $2,963,325 $293,841 $2,052,224 $1,026,112 $6,335,503 $1,026,112 34 2047 2048 $2,992,959 $296,779 $2,072,747 $1,036,373 $6,398,858 $1,036,373 35 2048 2049 $3,022,888 $299,747 $2,093,474 $1,046,737 $6,462,846 $1,046,737 36 2049 2050 $3,053,117 $302,744 $2,114,409 $1,057,204 $6,527,475 $1,057,204 37 2050 2051 $3,083,648 $305,772 $2,135,553 $1,067,777 $6,592,750 $1,067,777 38 2051 2052 $3,114,485 $308,830 $2,156,909 $1,078,454 $6,658,677 $1,078,454 39 2052 2053 $3,145,630 $311,918 $2,178,478 $1,089,239 $6,725,264 $1,089,239 40 2053 2054 $3,177,086 $315,037 $2,200,262 $1,100,131 $6,792,517 $1,100,131 Total for years 1-40 $57,413,923 $8,787,655 $54,987,507 $31,523,034 $152,712,120 $24,665,489 Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 27 Item 9 Schedule 14: Tax from Prosper West Retained for Collin County Notes:This schedule omits the value of rollback real property taxes from the TIRZ that Collin County may retain. Actual cash flow depends on realized development volume, timing of development and taxable values. Cash flow may be more or less than this forecast. (a)(b)(c)(d)(e)(f) For Appraisals on Tax Receipts TIRZ Jan. 1, After Payments to TIF Fund Real Business Personal Year or Sales in Calendar (If Any) by May 1,Property Tax Property Tax Total Tax Base 2013 2014 $71 $0 $71 1 2014 2015 $71 $0 $71 2 2015 2016 $30,789 $2,996 $33,786 3 2016 2017 $41,030 $11,075 $52,104 4 2017 2018 $65,859 $14,562 $80,422 5 2018 2019 $98,779 $19,160 $117,939 6 2019 2020 $134,429 $22,595 $157,024 7 2020 2021 $150,660 $28,541 $179,201 8 2021 2022 $190,164 $54,247 $244,410 9 2022 2023 $277,753 $61,673 $339,426 10 2023 2024 $345,039 $81,204 $426,243 11 2024 2025 $428,053 $95,176 $523,228 12 2025 2026 $475,022 $99,780 $574,802 13 2026 2027 $522,616 $104,969 $627,585 14 2027 2028 $566,081 $112,257 $678,338 15 2028 2029 $571,741 $113,380 $685,121 16 2029 2030 $577,458 $114,513 $691,972 17 2030 2031 $583,232 $115,659 $698,891 18 2031 2032 $589,064 $116,815 $705,879 19 2032 2033 $594,955 $117,983 $712,938 20 2033 2034 $600,904 $119,163 $720,067 21 2034 2035 $606,912 $120,355 $727,267 22 2035 2036 $612,981 $121,558 $734,540 23 2036 2037 $619,111 $122,774 $741,885 24 2037 2038 $625,301 $124,002 $749,303 25 2038 2039 $631,554 $125,242 $756,796 26 2039 2040 $1,275,668 $126,494 $1,402,162 27 2040 2041 $1,288,425 $127,759 $1,416,184 28 2041 2042 $1,301,309 $129,037 $1,430,345 29 2042 2043 $1,314,322 $130,327 $1,444,649 30 2043 2044 $1,327,465 $131,630 $1,459,095 31 2044 2045 $1,340,740 $132,947 $1,473,686 32 2045 2046 $1,354,147 $134,276 $1,488,423 33 2046 2047 $1,367,689 $135,619 $1,503,307 34 2047 2048 $1,381,366 $136,975 $1,518,341 35 2048 2049 $1,395,179 $138,345 $1,533,524 36 2049 2050 $1,409,131 $139,728 $1,548,859 37 2050 2051 $1,423,222 $141,126 $1,564,348 38 2051 2052 $1,437,454 $142,537 $1,579,991 39 2052 2053 $1,451,829 $143,962 $1,595,791 40 2053 2054 $1,466,347 $145,402 $1,611,749 Total for years 1-40 $30,473,851 $4,055,841 $34,529,692 Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 28 Item 9 Schedule 15: Forecast of Prosper ISD Taxes from the TIRZ Notes:Base value of the TIRZ assumes the 2012 taxable value. Annual forecasts of taxable values added to the roll in 2012 dollars are calculated in a separate schedule. Values are adjusted for inflation in this schedule. The increase in appraised value as of January 1, 2015 assumes all properties are appraised as non-agricultural land for that year. Annual forecasts of taxable value of land and improvements associated with developed property (in 2012 dollars plus assumed inflation) are added to the tax roll on Jan. 1 following assumed completions. The 2012 tax rate is assumed constant. Actual rates will be set annually. No tax abatements or tax exemptions have been assumed. (a) (b)(c)(d)(e)(f)(g)(h)(i)(j)(k)(l)(m)(n) Appraisal Before Forecast CCAD Appraisal Total Taxable Appraisal Without Forecast CCAD Appraisal Improvements of Improved Properties Real Property in Structures Due to Personal Property Cumulative Added This Year;Added to Roll This Year,Property Prosper ISD Completed This Year;Added This Year,BPP Prosper ISD Total Prosper ISD Property If Post-completion If Inflated Appraisal Real Property Post-completion If Inflated Appraisal BPP Appraisal Total Property Appraised Tax Deposited Appraisals Rise 2.00%Total Tax @ Appraisals Rise 2.00%Total Tax @ Forecast Prosper ISD Tax TIRZ Value for to TIRZ Fund 1.00%Annually from 1/1/13 for Jan. 1 $1.67 1.00%Annually from 1/1/13 for Jan. 1 $1.67 for Jan. 1 Property After Year Jan. 1, by May 1, Annually After 1/1/13 Through Year Added of This Year per $100 Annually After 1/1/13 Through This Year of This Year per $100 of This Year Tax Base Year Base 2013 2014 $0 $29,413 $491 $0 $0 $0 $0 $29,413 $491 1 2014 2015 $29,707 $0 $29,707 $496 $0 $0 $0 $0 $29,707 $496 $496 2 2015 2016 $30,004 $25,598,281 $25,628,286 $427,992 $0 #REF! $1,248,480 $20,850 $26,876,766 $448,842 $449,338 3 2016 2017 $25,884,569 $8,277,422 $34,161,991 $570,505 $1,260,965 #REF! $4,614,382 $77,060 $38,776,373 $647,565 $1,096,904 4 2017 2018 $34,503,611 $20,349,725 $54,853,335 $916,051 $4,660,526 $1,248,480 $6,067,688 $101,330 $60,921,023 $1,017,381 $2,114,285 5 2018 2019 $55,401,869 $26,884,368 $82,286,236 $1,374,180 $6,128,365 $3,353,417 $7,983,220 $133,320 $90,269,457 $1,507,500 $3,621,785 6 2019 2020 $83,109,099 $28,886,066 $111,995,165 $1,870,319 $8,063,053 $1,407,162 $9,414,447 $157,221 $121,409,612 $2,027,541 $5,649,325 7 2020 2021 $113,115,116 $12,405,805 $125,520,922 $2,096,199 $9,508,592 $1,854,856 $11,892,115 $198,598 $137,413,036 $2,294,798 $7,944,123 8 2021 2022 $126,776,131 $31,664,095 $158,440,226 $2,645,952 $12,011,036 $1,351,395 $22,602,837 $377,467 $181,043,062 $3,023,419 $10,967,542 9 2022 2023 $160,024,628 $71,406,781 $231,431,409 $3,864,905 $22,828,865 $2,383,523 $25,697,087 $429,141 $257,128,496 $4,294,046 $15,261,588 10 2023 2024 $233,745,723 $53,757,654 $287,503,377 $4,801,306 $25,954,058 $10,591,801 $33,834,857 $565,042 $321,338,234 $5,366,349 $20,627,936 11 2024 2025 $290,378,411 $66,302,935 $356,681,346 $5,956,578 $34,173,206 $2,868,222 $39,656,486 $662,263 $396,337,832 $6,618,842 $27,246,778 12 2025 2026 $360,248,159 $35,574,182 $395,822,341 $6,610,233 $40,053,051 $7,880,799 $41,574,941 $694,302 $437,397,283 $7,304,535 $34,551,313 13 2026 2027 $399,780,565 $35,703,543 $435,484,108 $7,272,585 $41,990,691 $5,483,281 $43,737,060 $730,409 $479,221,167 $8,002,993 $42,554,306 14 2027 2028 $439,838,949 $31,865,412 $471,704,361 $7,877,463 $44,174,430 $1,521,890 $46,773,803 $781,123 $518,478,164 $8,658,585 $51,212,892 15 2028 2029 $476,421,405 $0 $476,421,405 $7,956,237 $47,241,541 $1,746,369 $47,241,541 $788,934 $523,662,946 $8,745,171 $59,958,063 16 2029 2030 $481,185,619 $0 $481,185,619 $8,035,800 $47,713,957 $0 $47,713,957 $796,823 $528,899,576 $8,832,623 $68,790,686 17 2030 2031 $485,997,475 $0 $485,997,475 $8,116,158 $48,191,096 $0 $48,191,096 $804,791 $534,188,571 $8,920,949 $77,711,635 18 2031 2032 $490,857,450 $0 $490,857,450 $8,197,319 $48,673,007 $0 $48,673,007 $812,839 $539,530,457 $9,010,159 $86,721,793 19 2032 2033 $495,766,024 $0 $495,766,024 $8,279,293 $49,159,737 $0 $49,159,737 $820,968 $544,925,762 $9,100,260 $95,822,054 20 2033 2034 $500,723,684 $0 $500,723,684 $8,362,086 $49,651,335 $0 $49,651,335 $829,177 $550,375,019 $9,191,263 $105,013,316 21 2034 2035 $505,730,921 $0 $505,730,921 $8,445,706 $50,147,848 $0 $50,147,848 $837,469 $555,878,769 $9,283,175 $114,296,492 22 2035 2036 $510,788,230 $0 $510,788,230 $8,530,163 $50,649,327 $0 $50,649,327 $845,844 $561,437,557 $9,376,007 $123,672,499 23 2036 2037 $515,896,113 $0 $515,896,113 $8,615,465 $51,155,820 $0 $51,155,820 $854,302 $567,051,933 $9,469,767 $133,142,266 24 2037 2038 $521,055,074 $0 $521,055,074 $8,701,620 $51,667,378 $0 $51,667,378 $862,845 $572,722,452 $9,564,465 $142,706,731 25 2038 2039 $526,265,625 $0 $526,265,625 $8,788,636 $52,184,052 $0 $52,184,052 $871,474 $578,449,676 $9,660,110 $152,366,841 26 2039 2040 $531,528,281 $0 $531,528,281 $8,876,522 $52,705,892 $0 $52,705,892 $880,188 $584,234,173 $9,756,711 $162,123,552 27 2040 2041 $536,843,564 $0 $536,843,564 $8,965,288 $53,232,951 $0 $53,232,951 $888,990 $590,076,515 $9,854,278 $171,977,829 28 2041 2042 $542,211,999 $0 $542,211,999 $9,054,940 $53,765,281 $0 $53,765,281 $897,880 $595,977,280 $9,952,821 $181,930,650 29 2042 2043 $547,634,119 $0 $547,634,119 $9,145,490 $54,302,934 $0 $54,302,934 $906,859 $601,937,053 $10,052,349 $191,982,999 30 2043 2044 $553,110,460 $0 $553,110,460 $9,236,945 $54,845,963 $0 $54,845,963 $915,928 $607,956,423 $10,152,872 $202,135,871 31 2044 2045 $558,641,565 $0 $558,641,565 $9,329,314 $55,394,423 $0 $55,394,423 $925,087 $614,035,988 $10,254,401 $212,390,272 32 2045 2046 $564,227,981 $0 $564,227,981 $9,422,607 $55,948,367 $0 $55,948,367 $934,338 $620,176,348 $10,356,945 $222,747,217 33 2046 2047 $569,870,261 $0 $569,870,261 $9,516,833 $56,507,850 $0 $56,507,850 $943,681 $626,378,111 $10,460,514 $233,207,732 34 2047 2048 $575,568,963 $0 $575,568,963 $9,612,002 $57,072,929 $0 $57,072,929 $953,118 $632,641,892 $10,565,120 $243,772,851 35 2048 2049 $581,324,653 $0 $581,324,653 $9,708,122 $57,643,658 $0 $57,643,658 $962,649 $638,968,311 $10,670,771 $254,443,622 36 2049 2050 $587,137,899 $0 $587,137,899 $9,805,203 $58,220,095 $0 $58,220,095 $972,276 $645,357,994 $10,777,479 $265,221,100 37 2050 2051 $593,009,278 $0 $593,009,278 $9,903,255 $58,802,296 $0 $58,802,296 $981,998 $651,811,574 $10,885,253 $276,106,354 38 2051 2052 $598,939,371 $0 $598,939,371 $10,002,287 $59,390,319 $0 $59,390,319 $991,818 $658,329,690 $10,994,106 $287,100,460 39 2052 2053 $604,928,765 $0 $604,928,765 $10,102,310 $59,984,222 $0 $59,984,222 $1,001,737 $664,912,987 $11,104,047 $298,204,506 40 2053 2054 $610,978,052 $0 $610,978,052 $10,203,333 $60,584,064 $0 $60,584,064 $1,011,754 $671,562,117 $11,215,087 $309,419,594 Total for years 1-40 $448,676,269 $281,197,700 #REF!$28,221,894 $309,419,594 Business Personal Property Total PropertyReal Property Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 29 Item 9 Appendix A: Road Improvement Details Units Cost Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 4 $1,680.00 2 Excavation ( 3' in depth width of ROW )CY $2.75 7,467 $20,534 3 Drainage LF $300.00 420 $126,000 4 10"-3600 PSI concrete street pavement (37' BB)SY $65.00 3,453 $224,445 5 8" HMAC base material SY $40.00 3,453 $138,120 6 12"(66lbs./sy) lime stabilized subgrade SY $5.50 3,640 $20,020 7 Hydrated lime material TN $175.00 120 $21,000 8 Barrier free ramps EA $1,250.00 8 $10,000 9 Street signs EA $650.00 4 $2,600 10 6' wide concrete sidewalk SF $4.00 5,040 $20,160 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 12 Testing SY $0.90 3,640 $3,276 13 Payment, performance & maintenance bonds LS 3.00%1 $17,635 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 $605,470 Units Cost Quantity Total Quantity Total Length of Street (LF) 1 Erosion control measures STA $400.00 27 $10,800.00 0 $0 2 Excavation ( 3' in depth width of ROW )CY $2.75 27,000 $74,250 0 $0 3 Drainage LF $100.00 2,700 $270,000 0 $0 4 10"-3600 PSI concrete street pavement (37' BB)SY $65.00 11,831 $769,015 0 $0 5 8" HMAC base material SY $40.00 11,831 $473,240 0 $0 6 12"(66lbs./sy) lime stabilized subgrade SY $5.50 3,640 $20,020 0 $0 7 Hydrated lime material TN $175.00 412 $72,100 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500 9 Street signs EA $650.00 0 $0 3 $1,950 10 6' wide concrete sidewalk SF $4.00 0 $0 32,400 $129,600 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 0 $0 12 Testing SY $0.90 3,640 $3,276 0 $0 13 Payment, performance & maintenance bonds $548.03 1 $54,803 0 $0 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 0 $0 $1,747,504 $134,050 Units Cost Quantity Total Quantity Total Length of Street (LF) 1 Erosion control measures STA $400.00 22 $8,620.00 0 $0 2 Excavation ( 3' in depth width of ROW )CY $2.75 21,550 $59,263 0 $0 3 Drainage LF $100.00 2,155 $215,500 0 $0 4 10"-3600 PSI concrete street pavement (37' B-B)SY $65.00 10,990 $714,350 0 $0 5 8" HMAC base material SY $40.00 10,990 $439,600 0 $0 6 12"(66lbs./sy) lime stabilized subgrade SY $5.50 3,640 $20,020 0 $0 7 Hydrated lime material TN $175.00 382 $66,850 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000 9 Street signs EA $650.00 0 $0 3 $1,950 10 6' wide concrete sidewalk SF $4.00 0 $0 25,860 $103,440 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 0 $0 12 Testing SY $0.90 3,640 $3,276 0 $0 13 Payment, performance & maintenance bonds $49,136 1 $49,136 0 $0 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 0 $0 $1,576,615 $110,390 ENGINEER'S OPINION OF PROBABLE COST, PREPARED BY JBI PARTNERS, INC. ON NOV. 14, 2012 NORTHWEST CORNER OF US380 AND DNT, PROSPER, TEXAS JBI PROJECT NO. ATH003 Appendix cost estimates are approximate. Schedule 3 cost subtotals take precedence. K2 MIDDLE TOLLWAY CROSSING (160' RIGHT OF WAY) N1 WESTSIDE TOLLWAY SERVICE DRIVE (SOUTH) 2,700 TOTAL COST OF K2 MIDDLE TOLLWAY CROSSING Capital Imps. Program N2 WESTSIDE TOLLWAY SERVICE DRIVE (NORTH)Capital Imps. Program TOTAL COST OF N2 WESTSIDE TOLLWAY SERVICE DR. Enhancement 2,155 Enhancement Capital Imps. Program 420 TOTAL COST OF N1 WESTSIDE TOLLWAY SERVICE DR. Public Public Public Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 30 Item 9 Appendix A: Road Improvement Details Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 11 $4,440.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 7,400 $20,350 0 $0 3 Drainage LF $200.00 1,110 $222,000 0 $0 4 8"-3600 PSI concrete street pavement SY $48.00 7,627 $366,096 0 $0 5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 8,237 $22,652 0 $0 6 Hydrated lime material TN $175.00 136 $23,800 0 $0 7 Barrier free ramps EA $1,250.00 0 $0 0 $0 8 Street signs EA $650.00 0 $0 2 $1,300 9 6' wide concrete sidewalk SF $4.00 0 $0 13,320 $53,280 10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 0 $0 11 Testing SY $0.90 8,237 $7,413 0 $0 12 Payment, performance & maintenance bonds LS $21,640.00 1 $21,640 0 $0 13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 0 $0 $688,391 $54,580 Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 5 $1,800.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 3,000 $8,250 0 $0 3 Drainage LF $300.00 450 $135,000 0 $0 4 8"-3600 PSI concrete street pavement SY $48.00 3,495 $167,760 0 $0 5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 3,775 $10,381 0 $0 6 Hydrated lime material TN $175.00 62 $10,850 0 $0 7 Barrier free ramps EA $1,250.00 0 $0 0 $0 8 Street signs EA $650.00 0 $0 1 $650 9 6' wide concrete sidewalk SF $4.00 0 $0 5,400 $21,600 10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 0 $0 11 Testing SY $0.90 3,775 $3,398 0 $0 12 Payment, performance & maintenance bonds $10,791.00 1 $10,791 0 $0 13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 0 $0 $348,230 $22,250 Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 9 $3,600.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 6,000 $16,500 0 $0 3 Drainage LF $100.00 900 $90,000 0 $0 4 8"-3600 PSI concrete street pavement SY $48.00 6,663 $319,824 0 $0 5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 7,196 $19,789 0 $0 6 Hydrated lime material TN $175.00 119 $20,825 0 $0 7 Barrier free ramps EA $1,250.00 0 $0 0 $0 8 Street signs EA $650.00 0 $0 1 $650 9 6' wide concrete sidewalk SF $4.00 0 $0 10,800 $43,200 10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 0 $0 11 Testing SY $0.90 7,196 $6,476 0 $0 12 Payment, performance & maintenance bonds $15,626.00 1 $15,626 0 $0 13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 0 $0 $492,640 $43,850 SUBTOTAL 900 SUBTOTAL K5 EAST/WEST (4 LANES 90' RIGHT OF WAY) LOVERS LANE Capital Imps. Program 2 - 25' B-B with median K4 EAST/WEST (4 LANES 90' RIGHT OF WAY) LOVERS LANE 2 - 25' B-B with median 1,110 K3 EAST/WEST (4 LANES 90' RIGHT OF WAY) LOVERS LANE Capital Imps. Program TOTAL COST OF "K3" AT LOVERS LANE Capital Imps. Program Enhancement Enhancement Enhancement 2 - 25' B-B with median 450 Public Public Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 31 Item 9 Appendix A: Road Improvement Details Units Cost Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 20 $7,920.00 2 Excavation ( 2' in depth width of ROW )CY $2.75 13,200 $36,300 3 Drainage LF $200.00 1,980 $396,000 4 8"-3600 PSI concrete street pavement SY $48.00 10,972 $526,656 5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 11,850 $32,588 6 Hydrated lime material TN $175.00 196 $34,300 7 Barrier free ramps EA $1,250.00 0 $0 8 Street signs EA $650.00 2 $1,300 9 6' wide concrete sidewalk SF $4.00 23,760 $95,040 10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 11 Testing SY $0.90 11,850 $10,665 12 Payment, performance & maintenance bonds LS 3.00%1 $34,223 13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 $1,174,992 Units Cost Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 19 $7,680.00 2 Excavation ( 2' in depth width of ROW )CY $2.75 12,800 $35,200 3 Drainage LF $100.00 1,920 $192,000 4 8"-3600 PSI concrete street pavement SY $48.00 11,108 $533,184 5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 11,997 $32,992 6 Hydrated lime material TN $175.00 198 $34,650 7 Barrier free ramps EA $1,250.00 0 $0 8 Street signs EA $650.00 2 $1,300 9 6' wide concrete sidewalk SF $4.00 23,040 $92,160 10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 11 Testing SY $0.90 11,997 $10,797 12 Payment, performance & maintenance bonds LS 3.00%1 $28,199 13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 $968,162 $2,497,423 $120,680 J3 Units Cost Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 9 $3,440.00 2 Excavation ( 2' in depth width of ROW )CY $2.75 5,733 $15,767 3 Drainage LF $300.00 860 $258,000 4 8"-3600 PSI concrete street pavement (37' B-B)SY $48.00 5,945 $285,360 5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 6,421 $17,658 6 Hydrated lime material TN $175.00 106 $18,550 7 Barrier free ramps EA $1,250.00 2 $2,500 8 Street signs EA $650.00 2 $1,300 9 6' wide concrete sidewalk SF $4.00 10,320 $41,280 10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 11 Testing SY $0.90 6,421 $5,779 12 Payment, performance & maintenance bonds LS 3.00%1 $19,489 13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 $669,122 1,980 Capital Imps. Program Capital Imps. Program 2 - 25' B-B with median 860 SUBTOTAL TOTAL COST OF K3, K4, K5, & K7 1,920 SUBTOTAL SUBTOTAL K7 NORTH/SOUTH (4 LANES 90' RIGHT OF WAY) LOVERS LANE 2 - 25' B-B with median Capital Imps. Program K6 EAST/WEST (4 LANES 90' RIGHT OF WAY) LOVERS LANE 2 - 25' B-B with median Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 32 Item 9 Appendix A: Road Improvement Details J4 Units Cost Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 9 $3,400.00 2 Excavation ( 2' in depth width of ROW )CY $2.75 5,667 $15,583 3 Drainage LF $300.00 850 $255,000 4 8"-3600 PSI concrete street pavement (37' B-B)SY $48.00 5,982 $287,136 5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 6,461 $17,768 6 Hydrated lime material TN $175.00 107 $18,725 7 Barrier free ramps EA $1,250.00 0 $0 8 Street signs EA $650.00 2 $1,300 9 6' wide concrete sidewalk SF $4.00 10,200 $40,800 10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 11 Testing SY $0.90 6,461 $5,815 12 Payment, performance & maintenance bonds LS 3.00%1 $19,366 13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 $664,893 J5 Units Cost Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 11 $4,440.00 2 Excavation ( 2' in depth width of ROW )CY $2.75 7,400 $20,350 3 Drainage LF $200.00 1,110 $222,000 4 8"-3600 PSI concrete street pavement (37' B-B)SY $48.00 6,334 $304,032 5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 6,841 $18,813 6 Hydrated lime material TN $175.00 113 $19,775 7 Barrier free ramps EA $1,250.00 0 $0 8 Street signs EA $650.00 3 $1,950 9 6' wide concrete sidewalk SF $4.00 13,320 $53,280 10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 11 Testing SY $0.90 6,841 $6,157 12 Payment, performance & maintenance bonds LS 3.00%1 $19,524 13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 $670,321 $2,004,336 Street "A5"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 4 $1,520.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 2,449 $6,735 0 $0 3 Drainage LF $100.00 380 $38,000 0 $0 4 8"-3600 PSI concrete street pavement SY $48.00 2,060 $98,880 0 $0 5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,225 $6,119 0 $0 7 Hydrated lime material TN $175.00 37 $6,475 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000 9 Street signs EA $650.00 0 $0 2 $1,300 10 6' wide concrete sidewalk SF $4.00 4,560 $18,240 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,560 $18,240 12 Testing SY $0.90 2,225 $2,003 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $5,339 1 $736 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 26 $31,200 $183,310 $56,476 2 - 25' B-B with median 850 SUBTOTAL Capital Imps. Program Segment J5 1,100 Capital Imps. Program TOTAL COST OF STREET "J" STREET "A" 380 2-25' B-B SUBTOTAL Public 2-25' B-B Enhancement Public SUBTOTAL Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 33 Item 9 Appendix A: Road Improvement Details Street "A4"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 6 $2,340.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 5,503 $15,134 0 $0 3 Drainage LF $100.00 585 $58,500 0 $0 4 8"-3600 PSI concrete street pavement SY $48.00 3,250 $156,000 0 $0 5 6"-3600 PSI conc. parking SY $40.00 2,611 $104,440 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 6,330 $17,408 0 $0 7 Hydrated lime material TN $175.00 104 $18,200 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 8 $10,000 9 Street signs EA $650.00 0 $0 4 $2,600 10 6' wide concrete sidewalk SF $4.00 7,020 $28,080 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 7,020 $28,080 12 Testing SY $0.90 6,330 $5,697 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $12,174 1 $1,220 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 40 $48,000 $417,973 $89,900 Circle "A2"Units Cost Quantity Total Quantity Total Circumference Circle/Length of Street (LF) 1 Erosion control measures STA $400.00 5 $1,948.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 1,804 $4,960 0 $0 3 Drainage LF $100.00 487 $48,700 0 $0 4 8"-3600 PSI concrete street pavement SY $48.00 1,412 $67,776 0 $0 5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,524 $4,191 0 $0 7 Hydrated lime material TN $175.00 25 $4,375 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 0 $0 9 Street signs EA $650.00 0 $0 0 $0 10 6' wide concrete sidewalk SF $4.00 5,334 $21,336 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 5,334 $21,336 12 Testing SY $0.90 1,524 $1,372 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $4,640 1 $640 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 27 $32,400 $159,298 $54,376 Street "A3"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 4 $1,440.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 3,387 $9,313 0 $0 3 Drainage LF $200.00 360 $72,000 0 $0 4 8"-3600 PSI concrete street pavement SY $48.00 2,000 $96,000 0 $0 5 6"-3600 PSI conc. parking SY $40.00 1,157 $46,280 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 3,410 $9,378 0 $0 7 Hydrated lime material TN $175.00 56 $9,800 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 8 $10,000 9 Street signs EA $650.00 0 $0 4 $2,600 10 6' wide concrete sidewalk SF $4.00 4,320 $17,280 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,320 $17,280 12 Testing SY $0.90 3,410 $3,069 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $7,937 1 $896 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 18 $21,600 $272,497 $52,376 25' B-B 487 2-25' B-B 2-25' B-B 487 SUBTOTAL 25' B-B SUBTOTAL 360 2-25' B-B Public Enhancement SUBTOTAL 585 2-25' B-B Public Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 34 Item 9 Appendix A: Road Improvement Details Street "A2"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 4 $1,720.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 4,045 $11,124 0 $0 3 Drainage LF $200.00 430 $86,000 0 $0 4 8"-3600 PSI concrete street pavement SY $48.00 2,389 $114,672 0 $0 5 6"-3600 PSI conc. parking SY $40.00 1,358 $54,320 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 4,047 $11,129 0 $0 7 Hydrated lime material TN $175.00 67 $11,725 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500 9 Street signs EA $650.00 0 $0 1 $650 10 6' wide concrete sidewalk SF $4.00 5,160 $20,640 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 5,160 $20,640 12 Testing SY $0.90 4,047 $3,642 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $9,449 1 $714 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 28 $33,600 $324,422 $58,104 Circle "A1"Units Cost Quantity Total Quantity Total Circumference of Circle (LF) Circumference Circle/Length of Street (LF) 1 Erosion control measures STA $400.00 4 $1,572.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 1,456 $4,003 0 $0 3 Drainage LF $100.00 393 $39,300 0 $0 4 8"-3600 PSI concrete street pavement SY $48.00 948 $45,504 0 $0 5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,024 $2,816 0 $0 7 Hydrated lime material TN $175.00 17 $2,975 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 0 $0 9 Street signs EA $650.00 0 $0 2 $1,300 10 6' wide concrete sidewalk SF $4.00 4,206 $16,824 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,206 $16,824 12 Testing SY $0.90 1,024 $922 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $3,417 1 $544 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 20 $24,000 $117,333 $42,668 Street "A1" Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 10 $3,840.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 3,911 $10,755 0 $0 3 Drainage LF $100.00 960 $96,000 0 $0 3 8"-3600 PSI concrete street pavement SY $48.00 1,387 $66,576 0 $0 4 6"-3600 PSI conc. parking SY $40.00 1,810 $72,400 0 $0 4 6"(33lbs./sy) lime stabilized subgrade SY $2.75 3,452 $9,493 0 $0 5 Hydrated lime material TN $175.00 57 $9,975 0 $0 5 Barrier free ramps EA $1,250.00 0 $0 8 $10,000 6 Street signs EA $650.00 0 $0 4 $2,600 6 6' wide concrete sidewalk SF $4.00 11,520 $46,080 0 $0 7 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 11,520 $46,080 7 Testing SY $0.90 3,452 $3,107 0 $0 8 Payment, performance & maintenance bonds LS 3.00%1 $9,547 1 $1,760 8 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 64 $76,800 $327,773 $137,240 $1,802,605 $491,141 SUBTOTAL SUBTOTAL 430 2-25' B-B 393 Enhancement 25' B-B SUBTOTAL TOTAL COST OF STREET " A" 960 25' B-B Public Public 2-25' B-B 393 Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 35 Item 9 Appendix A: Road Improvement Details Street "B-4"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 4 $1,600.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 3,763 $10,348 0 $0 3 Drainage LF $200.00 400 $80,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 1,111 $46,667 0 $0 5 6"-3600 PSI conc. parking SY $40.00 1,173 $46,920 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,467 $6,784 0 $0 7 Hydrated lime material TN $175.00 41 $7,175 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500 9 Street signs EA $650.00 0 $0 2 $1,300 10 6' wide concrete sidewalk SF $4.00 4,800 $19,200 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,800 $19,200 12 Testing SY $0.90 2,467 $2,220 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $6,627 1 $690 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 27 $32,400 $227,542 $56,090 Circle "B1"Units Cost Quantity Total Quantity Total Circumference of Circle (LF) Circumference Circle/Length of Street (LF) 1 Erosion control measures STA $400.00 5 $2,072.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 1,919 $5,276 0 $0 3 Drainage LF $100.00 518 $51,800 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 1,372 $57,624 0 $0 5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,482 $4,076 0 $0 7 Hydrated lime material TN $175.00 24 $4,200 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 0 $0 9 Street signs EA $650.00 0 $0 0 $0 10 6' wide concrete sidewalk SF $4.00 5,706 $22,824 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 5,706 $22,824 12 Testing SY $0.90 1,482 $1,334 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $4,476 1 $685 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 28 $33,600 $153,681 $57,109 Street "B-1"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 9 $3,400.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 5,604 $15,410 0 $0 3 Drainage LF $200.00 850 $170,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 2,361 $99,162 0 $0 5 6"-3600 PSI conc. parking SY $40.00 2,929 $117,160 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 5,712 $15,708 0 $0 7 Hydrated lime material TN $175.00 94 $16,450 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000 9 Street signs EA $650.00 0 $0 2 $1,300 10 6' wide concrete sidewalk SF $4.00 10,200 $40,800 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 10,200 $40,800 12 Testing SY $0.90 5,712 $5,141 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $14,497 1 $1,413 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 56 $67,200 $497,728 $115,713 Public SUBTOTAL 850 25' B-B STREET "B" TOTAL COST OF STREET " B-4" 25' B-B 400 25' B-B 25' B-B CIRCLE "B1" TOTAL COST OF CIRCLE " B1" 25' B-B Public Enhancement 25' B-B 518 518 Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 36 Item 9 Appendix A: Road Improvement Details Street "B-2"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 7 $2,720.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 4,483 $12,328 0 $0 3 Drainage LF $100.00 680 $68,000 0 $0 3 7"-3600 PSI concrete street pavement SY $42.00 1,889 $79,338 0 $0 4 6"-3600 PSI conc. parking SY $40.00 2,337 $93,480 0 $0 5 6"(33lbs./sy) lime stabilized subgrade SY $2.75 4,654 $12,799 0 $0 6 Hydrated lime material TN $175.00 75 $13,125 0 $0 7 Barrier free ramps EA $1,250.00 0 $0 2 $2,500 8 Street signs EA $400.00 0 $0 0 $0 9 6' wide concrete sidewalk SF $4.00 8,160 $32,640 0 $0 10 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 8,160 $32,640 11 Testing SY $0.90 4,654 $4,189 0 $0 12 Payment, performance & maintenance bonds LS 3.00%1 $9,559 1 $1,054 13 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 43 $51,600 $328,177 $87,794 Street "B3"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 4 $1,640 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 1,488 $4,092 0 $0 3 Drainage LF $100.00 410 $41,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 1,139 $47,838 0 $0 5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,230 $3,383 0 $0 7 Hydrated lime material TN $175.00 20 $3,500 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000 9 Street signs EA $650.00 0 $0 1 $650 10 6' wide concrete sidewalk SF $4.00 4,920 $19,680 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,920 $19,680 12 Testing SY $0.90 1,230 $1,107 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $3,667 1 $760 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 27 $32,400 $125,907 $58,490 $1,333,035 $375,196 Street "C2"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 5 $2,080.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 3,428 $9,427 0 $0 3 Drainage LF $300.00 520 $156,000 0 $0 4 8"-3600 PSI concrete street pavement SY $48.00 1,444 $69,312 0 $0 5 6"-3600 PSI conc. parking SY $40.00 1,561 $62,440 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,560 $4,289 0 $0 7 Hydrated lime material TN $175.00 48 $8,400 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500 9 Street signs EA $650.00 0 $0 1 $650 10 6' wide concrete sidewalk SF $4.00 6,240 $24,960 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 6,240 $24,960 12 Testing SY $0.90 1,560 $1,404 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $10,149 1 $843 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 35 $41,600 $348,461 $70,553 TOTAL COST OF STREET " B" 410 25' B-B 25' B-B SUBTOTAL SUBTOTAL STREET "B" 680 25' B-B 25' B-B Public Public Enhancement 520 STREET "C2" 2 - 25' B-B 2 - 25' B-B TOTAL COST OF STREET " C2" Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 37 Item 9 Appendix A: Road Improvement Details Street "D1"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 4 $1,600.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 2,637 $7,252 0 $0 3 Drainage LF $300.00 400 $120,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 1,111 $46,662 0 $0 5 6"-3600 PSI conc. parking SY $40.00 1,082 $43,280 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,368 $6,512 0 $0 7 Hydrated lime material TN $175.00 39 $6,825 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000 9 Street signs EA $650.00 0 $0 2 $1,300 10 6' wide concrete sidewalk SF $4.00 4,800 $19,200 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,800 $19,200 12 Testing SY $0.90 2,368 $2,131 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $7,604 1 $765 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 26 $31,200 $261,066 $57,465 Street "D2"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 3 $1,360.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 2,241 $6,164 0 $0 3 Drainage LF $200.00 340 $68,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 944 $39,648 0 $0 5 6"-3600 PSI conc. parking SY $40.00 1,225 $49,000 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,343 $6,443 0 $0 7 Hydrated lime material TN $175.00 39 $6,825 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000 9 Street signs EA $650.00 0 $0 2 $1,300 10 6' wide concrete sidewalk SF $4.00 4,080 $16,320 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,080 $16,320 12 Testing SY $0.90 2,343 $2,109 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $5,876 1 $679 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 24 $28,800 $201,745 $52,099 Street "D3"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 2 $800.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 726 $1,996 0 $0 3 Drainage LF $200.00 200 $40,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 761 $31,962 0 $0 5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 822 $2,261 0 $0 7 Hydrated lime material TN $175.00 14 $2,450 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500 9 Street signs EA $650.00 0 $0 1 $650 10 6' wide concrete sidewalk SF $4.00 2,400 $9,600 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 2,400 $9,600 12 Testing SY $0.90 822 $740 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $2,694 1 $383 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 12 $14,400 $92,503 $27,533 $555,314 $137,096 25' B-B Public 25' B-B STREET "D3" TOTAL COST OF STREET " D" 200 TOTAL COST OF STREET " D3" 25' B-B 25' B-B Public TOTAL COST OF STREET " D2" 340 25' B-B 25' B-B STREET "D1" 400 TOTAL COST OF STREET " D1" STREET "D2" Enhancement Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 38 Item 9 Appendix A: Road Improvement Details Street "E1"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 4 $1,760.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 2,770 $7,619 0 $0 3 Drainage LF $100.00 440 $44,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 1,222 $51,324 0 $0 5 6"-3600 PSI conc. parking SY $40.00 1,382 $55,280 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,812 $7,733 0 $0 7 Hydrated lime material TN $175.00 46 $8,050 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 6 $7,500 9 Street signs EA $650.00 0 $0 2 $1,300 10 6' wide concrete sidewalk SF $4.00 5,280 $21,120 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 5,280 $21,120 12 Testing SY $0.90 2,812 $2,531 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $5,982 1 $898 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 35 $42,000 $205,399 $72,818 Street "E2"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 4 $1,560.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 2,571 $7,071 0 $0 3 Drainage LF $100.00 390 $39,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 1,083 $45,486 0 $0 5 6"-3600 PSI conc. parking SY $40.00 1,358 $54,320 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,637 $7,252 0 $0 7 Hydrated lime material TN $175.00 44 $7,700 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000 9 Street signs EA $650.00 0 $0 2 $1,300 10 6' wide concrete sidewalk SF $4.00 4,680 $18,720 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,680 $18,720 12 Testing SY $0.90 2,637 $2,373 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $5,504 1 $751 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 26 $31,200 $188,986 $56,971 Street "E3"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 2 $800.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 725 $1,994 0 $0 3 Drainage LF $100.00 200 $20,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 761 $31,962 0 $0 5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 822 $2,261 0 $0 7 Hydrated lime material TN $175.00 14 $2,450 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500 9 Street signs EA $650.00 0 $0 1 $650 10 6' wide concrete sidewalk SF $4.00 2,400 $9,600 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 2,400 $9,600 12 Testing SY $0.90 822 $740 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $2,094 1 $383 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 13 $15,600 $71,900 $28,733 $466,285 $158,521TOTAL COST OF STREET " E" SUBTOTAL 390 25' B-B 25' B-B SUBTOTAL SUBTOTAL STREET "E3" 200 25' B-B 25' B-B PublicSTREET "E1" Enhancement Public 440 25' B-B 25' B-B Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 39 Item 9 Appendix A: Road Improvement Details Street "F3"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 2 $760.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 690 $1,896 0 $0 3 Drainage LF $100.00 190 $19,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 698 $29,316 0 $0 5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 754 $2,074 0 $0 7 Hydrated lime material TN $175.00 12 $2,100 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500 9 Street signs EA $650.00 0 $0 1 $650 10 6' wide concrete sidewalk SF $4.00 2,280 $9,120 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 2,280 $9,120 12 Testing SY $0.90 754 $679 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $1,948 1 $368 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 12 $14,400 $66,893 $27,038 Street "F2"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 3 $1,200.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 1,978 $5,439 0 $0 3 Drainage LF $100.00 300 $30,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 833 $34,986 0 $0 5 6"-3600 PSI conc. parking SY $40.00 962 $38,480 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,795 $4,936 0 $0 7 Hydrated lime material TN $175.00 32 $5,600 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000 9 Street signs EA $650.00 0 $0 2 $1,300 10 6' wide concrete sidewalk SF $4.00 3,600 $14,400 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 3,600 $14,400 12 Testing SY $0.90 1,795 $1,616 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $4,100 1 $621 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 20 $24,000 $140,756 $45,321 Street "F1"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 5 $2,000.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 3,296 $9,065 0 $0 3 Drainage LF $200.00 500 $100,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 1,389 $58,338 0 $0 5 6"-3600 PSI conc. parking SY $40.00 1,312 $52,480 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,917 $8,022 0 $0 7 Hydrated lime material TN $175.00 48 $8,400 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000 9 Street signs EA $650.00 0 $0 2 $1,300 10 6' wide concrete sidewalk SF $4.00 6,000 $24,000 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 6,000 $24,000 12 Testing SY $0.90 2,917 $2,625 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $7,948 1 $909 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 32 $38,400 $272,878 $69,609 25' B-B STREET "F" 300 25' B-B 25' B-B 25' B-B 190 25' B-B 500 25' B-B SUBTOTAL Public Public Enhancement SUBTOTAL SUBTOTAL Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 40 Item 9 Appendix A: Road Improvement Details Street "F4"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 3 $1,040.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 944 $2,595 0 $0 3 Drainage LF $100.00 260 $26,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 848 $35,616 0 $0 5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 916 $2,519 0 $0 7 Hydrated lime material TN $175.00 15 $2,625 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000 9 Street signs EA $650.00 0 $0 2 $1,300 10 6' wide concrete sidewalk SF $4.00 3,120 $12,480 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 3,120 $12,480 12 Testing SY $0.90 916 $824 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $2,511 1 $563 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 18 $21,600 $86,211 $40,943 $566,738 $182,912 Street "G4"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 2 $720.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 653 $1,797 0 $0 3 Drainage LF $100.00 180 $18,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 782 $32,844 0 $0 5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 845 $2,324 0 $0 7 Hydrated lime material TN $175.00 14 $2,450 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500 9 Street signs EA $650.00 0 $0 1 $650 10 6' wide concrete sidewalk SF $4.00 2,160 $8,640 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 2,160 $8,640 12 Testing SY $0.90 845 $761 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $2,026 1 $354 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 12 $14,400 $69,561 $26,544 Street "G3"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 4 $1,520.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 2,505 $6,889 0 $0 3 Drainage LF $100.00 380 $38,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 1,056 $44,352 0 $0 5 6"-3600 PSI conc. parking SY $40.00 1,075 $43,000 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 2,301 $6,328 0 $0 7 Hydrated lime material TN $175.00 38 $6,650 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500 9 Street signs EA $650.00 0 $0 2 $1,300 10 6' wide concrete sidewalk SF $4.00 4,560 $18,240 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 4,560 $18,240 12 Testing SY $0.90 2,301 $2,071 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $5,011 1 $661 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 24 $28,800 $172,061 $51,501SUBTOTAL 25' B-B 25' B-B Public Public Enhancement 25' B-B25' B-B 260 380 25' B-B25' B-B TOTAL COST OF STREET " F" SUBTOTAL STREET "G" 180 SUBTOTAL Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 41 Item 9 Appendix A: Road Improvement Details Street "G2"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 6 $2,200.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 1,996 $5,490 0 $0 3 Drainage LF $100.00 550 $55,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 1,465 $61,530 0 $0 5 6"-3600 PSI conc. parking SY $40.00 0 $0 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,582 $4,351 0 $0 7 Hydrated lime material TN $175.00 26 $4,550 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000 9 Street signs EA $650.00 0 $0 2 $1,300 10 6' wide concrete sidewalk SF $4.00 6,600 $26,400 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 6,600 $26,400 12 Testing SY $0.90 1,582 $1,424 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $4,828 1 $981 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 36 $43,200 $165,772 $76,881 Street "G1"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 3 $1,240.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 2,044 $5,620 0 $0 3 Drainage LF $100.00 310 $31,000 0 $0 4 7"-3600 PSI concrete street pavement SY $42.00 861 $36,162 0 $0 5 6"-3600 PSI conc. parking SY $40.00 841 $33,640 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,838 $5,055 0 $0 7 Hydrated lime material TN $175.00 30 $5,250 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 2 $2,500 9 Street signs EA $650.00 0 $0 2 $1,300 10 6' wide concrete sidewalk SF $4.00 3,720 $14,880 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 3,720 $14,880 12 Testing SY $0.90 1,838 $1,654 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $4,035 1 $560 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 20 $24,000 $138,536 $43,240 $545,931 $198,166 Street "R1"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 7 $2,960.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 3,563 $9,798 0 $0 3 Drainage LF $100.00 740 $74,000 0 $0 4 6"-3600 PSI concrete street pavement SY $36.00 2,056 $74,016 0 $0 5 6"-3600 PSI conc. parking SY $40.00 973 $38,920 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 3,270 $8,993 0 $0 7 Hydrated lime material TN $175.00 54 $9,450 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 0 $0 9 Street signs EA $650.00 0 $0 1 $650 10 6' wide concrete sidewalk SF $4.00 8,880 $35,520 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 8,880 $35,520 12 Testing SY $0.90 3,270 $2,943 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $7,698 1 $1,085 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 50 $60,000 $264,298 $97,255 25' B-B Public Enhancement SUBTOTAL 310 25' B-B 25' B-B SUBTOTAL TOTAL COST OF STREET " G" 550 740 Street "R1" 25' B-B 25' B-B 25' B-B TOTAL COST OF STREET " R1" Public Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 42 Item 9 Appendix A: Road Improvement Details Street "R2"Units Cost Quantity Total Quantity Total Length of Street Segment (LF) 1 Erosion control measures STA $400.00 5 $1,800.00 0 $0 2 Excavation ( 2' in depth width of ROW )CY $2.75 2,167 $5,958 0 $0 3 Drainage LF $100.00 450 $45,000 0 $0 4 6"-3600 PSI concrete street pavement SY $36.00 1,250 $45,000 0 $0 5 6"-3600 PSI conc. parking SY $40.00 499 $19,960 0 $0 6 6"(33lbs./sy) lime stabilized subgrade SY $2.75 1,889 $5,195 0 $0 7 Hydrated lime material TN $175.00 31 $5,425 0 $0 8 Barrier free ramps EA $1,250.00 0 $0 4 $5,000 9 Street signs EA $650.00 0 $0 2 $1,300 10 6' wide concrete sidewalk SF $4.00 5,400 $21,600 0 $0 11 Additional concrete sidewalk for total of 12' each side SF $4.00 0 $0 5,400 $21,600 12 Testing SY $0.90 1,889 $1,700 0 $0 13 Payment, performance & maintenance bonds LS 3.00%1 $4,549 1 $837 14 Shade tree with 4'x4' metal grate (30' on center e.s.)EA $1,200.00 0 $0 30 $36,000 $156,187 $64,737 $420,485 $161,992 25' B-B TOTAL COST OF STREET " R2" 450 25' B-B TOTAL COST OF STREET " R" Public Enhancement Public Street "R2" Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 43 Item 9 Appendix B: Other Site Improvement Details A1.Water On-Site (CIP)Unit Cost Quant Total 1 36" RCCP Pipe LF $165.00 0 $0 2 16" PVC Pipe LF $60.00 10,005 $600,300 3 12" PVC Pipe LF $40.00 0 $0 4 36" Valve with vault EA $25,000.00 0 $0 5 16" Valves EA $5,500.00 12 $66,000 6 12" Valves EA $2,250.00 0 $0 7 6" Valves EA $850.00 12 $10,200 8 Fire hydrants EA $3,000.00 12 $36,000 9 Fittings (1 ton per 1000')TON $7,500.00 10.01 $75,038 10 Connect to existing pipe EA $3,500.00 4 $14,000 11 Trench safety LF $0.50 10,005 $5,003 12 Testing LF $2.00 10,005 $20,010 13 Payment, performance & maint bonds LS 3.00%1 $24,797 $851,347 A2.Water On-Site (Public)Unit Cost Quant Total 1 16" PVC Pipe LF $60.00 0 $0 2 12" PVC Pipe LF $40.00 14,715 $588,600 3 16" Valves EA $5,500.00 0 $0 4 12" Valves EA $2,250.00 37 $83,250 5 6" Valves EA $850.00 37 $31,450 6 Fire hydrants EA $3,000.00 37 $111,000 7 Fittings (1 ton per 1000')TON $5,000.00 14.72 $73,575 8 Concrete encasement LF $35.00 294 $10,301 9 Connect to existing pipe EA $1,500.00 6 $9,000 10 Trench safety LF $0.50 14,715 $7,358 11 Testing LF $2.00 14,715 $29,430 12 Payment, performance & maint bonds LS 3.00%1 $28,319 $972,282 A3.Water On-Site (Developer)Unit Cost Quant Total 1 8" PVC Pipe LF $25.00 13,010 $325,250 2 8" Valves EA $2,250.00 33 $74,250 3 6" Valves EA $850.00 37 $31,450 4 Fire hydrants EA $3,000.00 37 $111,000 5 Fittings (1 ton per 1000')TON $4,000.00 13.01 $52,040 6 Concrete encasement LF $35.00 260 $9,107 7 Connect to existing pipe EA $1,500.00 4 $6,000 8 Trench safety LF $0.50 13,010 $6,505 9 Testing LF $2.00 13,010 $26,020 10 Payment, performance & maint bonds LS 3.00%1 $19,249 $660,871 B1.Sanitary Sewer Off-Site (CIP)Units Cost Quant Total 1 18" SDR 26 PVC Pipe LF $85.00 7,360 $625,600 2 5' Diameter manhole EA $6,500.00 15 $97,500 3 Concrete encasement LF $45.00 147 $6,624 4 Connect to existing manhole EA $2,500.00 1 $2,500 5 Trench safety LF $0.50 7,360 $3,680 6 Testing LF $2.00 7,360 $14,720 7 Payment, performance & maint bonds LS 3.0%1 $22,519 $1,479,282 ENGINEER'S OPINION OF PROBABLE COST, PREPARED BY JBI PARTNERS, INC. ON NOV. 14, 2012 NORTHWEST CORNER OF US380 AND DNT, PROSPER, TEXAS JBI PROJECT NO. ATH003 TOTAL TOTAL TOTAL Appendix cost estimates are approximate. Schedule 3 cost subtotals take precedence. TOTAL Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 44 Item 9 Appendix B: Other Site Improvement Details ENGINEER'S OPINION OF PROBABLE COST, PREPARED BY JBI PARTNERS, INC. ON NOV. 14, 2012 NORTHWEST CORNER OF US380 AND DNT, PROSPER, TEXAS JBI PROJECT NO. ATH003 Appendix cost estimates are approximate. Schedule 3 cost subtotals take precedence. B2.Sanitary Sewer On-Site (CIP)Units Cost Quant Total 1 18" PVC Pipe LF $65.00 2,790 $181,350 2 12" PVC Pipe LF $55.00 330 $18,150 3 10" PVC Pipe LF $40.00 0 $0 4 8" PVC Pipe LF $25.00 0 $0 5 Concrete encasement LF $35.00 62 $2,184 6 5' Diameter manhole EA $5,500.00 9 $49,500 7 Connect to existing manhole EA $1,500.00 1 $1,500 8 Trench safety LF $0.50 3,120 $1,560 9 Testing LF $2.00 3,120 $6,240 10 Payment, performance & maint bonds LS 3.0%1 $7,815 $268,299 B3.Sanitary Sewer On-Site (Public)Units Cost Quant Total 1 12" PVC Pipe LF $55.00 2,490 $136,950 2 10" PVC Pipe LF $40.00 0 $0 3 8" PVC Pipe LF $25.00 8,785 $219,625 4 Concrete encasement LF $35.00 226 $7,893 5 5' Diameter manhole EA $5,500.00 32 $176,000 6 Connect to existing manhole EA $1,500.00 1 $1,500 7 Trench safety LF $0.50 11,275 $5,638 8 Testing LF $2.00 11,275 $22,550 9 Payment, performance & maint bonds LS 3.0%1 $17,105 $587,260 B4.Sanitary Sewer On-Site (Developer)Units Cost Quant Total 1 12" PVC Pipe LF $55.00 0 $0 2 10" PVC Pipe LF $40.00 0 $0 3 8" PVC Pipe LF $25.00 3,160 $79,000 4 Concrete encasement LF $35.00 63 $2,212 5 5' Diameter manhole EA $5,500.00 9 $49,500 6 Connect to existing manhole EA $1,500.00 1 $1,500 7 Trench safety LF $0.50 3,160 $1,580 8 Testing LF $2.00 3,160 $6,320 9 Payment, performance & maint bonds LS 3.0%1 $4,203 $144,315 C.Drainage (Multi-box Culvert Drainage along US 380)Units Cost Quant Total 1 4 barrel 8' x 3' RCB LF $1,100.00 1,500 $1,650,000 2 Storm junction box EA $15,000.00 3 $45,000 3 Wing wall at 4 barrel 8' x 3' RCB EA $30,000.00 1 $30,000 4 Rock rip rap SY $85.00 80 $6,800 5 Trench safety LF $0.35 1,500 $525 6 Testing LF $1.25 1,500 $1,875 7 Payment, performance & maint bonds LS 3.00%1 $52,026 $1,786,226 D.Parking Deck Infrastructure Total 1 PARKING DECK D1-5 LEVELS (each level 185 spaces @ $12,000 per space)$13,320,000 2 PARKING DECK F1-5 LEVELS (each level 135 spaces @ $12,000 per space)$9,720,000 3 PARKING DECK G1-5 LEVELS (each level 330 spaces @ $12,000 per space)$23,760,000 4 PARKING DECK R1-5 LEVELS (each level 190 spaces @ $12,000 per space)$13,680,000 5 PARKING DECK R2-4 LEVELS (each level 110 spaces @ $12,000 per space)$6,336,000 6 CONTINGENCY (10%)$6,681,600 $73,497,600 TOTAL TOTAL TOTAL TOTAL TOTAL Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 45 Item 9 Appendix C: Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area (a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s) Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFA Mixed use centers The Crescent 100 Crescent Dallas 1,722,192 433,082 3.98 $246,022,620 $38,977,380 $285,000,000 $165 $90 2012 1983 shopping, theater 3699 McKinney 125,586 169,508 0.74 $18,579,530 $10,170,470 $28,750,000 $229 $60 apartments 3699 McKinney 190,062 95,749 1.98 $16,605,210 $5,744,790 $22,350,000 $118 $60 4 159 residential condos (20)3699 McKinney 34,486 17,256 2.00 $5,368,370 $775,290 $6,143,660 $178 $45 20 West Village Dallas 350,134 282,513 1.24 $40,553,110 $8,475,390 $57,243,660 $163 $30 2012 2000 179 Galleria 13350 Dallas 951,178 1,029,719 $246,697,430 $30,891,570 $277,589,000 $30 1981 garage 13350 Dallas 0 0 $6,411,000 $0 $6,411,000 1981 5200 Alpha 0 80,163 $0 $2,004,080 $2,004,080 $25 Nordstrom 5200 Alpha 230,000 0 $14,508,220 $0 $14,508,220 1995 Saks 13550 Dallas 171,000 0 $7,793,960 $0 $7,793,960 1981 Macy's 13401 Noel 0 112,385 $0 $2,809,630 $2,809,630 $25 Macy's 13375 Noel 253,795 0 $13,312,820 $0 $13,312,820 1984 Gap, etc.13250 Dallas 127,639 0 $5,725,000 $0 $5,725,000 1981 Galleria mall and department stores 1,733,612 1,222,267 1.42 $294,448,430 $35,705,280 $330,153,710 $190 $29 13155 Noel 573,816 168,612 $51,749,640 $5,058,360 $56,808,000 $30 1990 child day care center 13255 Noel 9,888 0 $500,000 $0 $500,000 1991 13355 Noel 493,925 114,585 $46,987,450 $3,437,550 $50,425,000 $30 1981 13455 Noel 457,985 85,617 $44,028,490 $2,568,510 $46,597,000 $30 1984 Galleria office buildings 1,535,614 368,814 4.16 $143,265,580 $11,064,420 $154,330,000 $101 $30 13340 Dallas 473,645 0 $45,805,050 $0 $45,805,050 1981 21 431 13340 Dallas 0 120,291 $0 $3,608,730 $3,608,730 Westin Galleria Hotel 473,645 120,291 3.94 $45,805,050 $3,608,730 $49,413,780 $104 $30 5244 Alpha 2,067 82,842 $17,790 $864,210 $882,000 $10 2005 5244 Alpha 0 15,481 $0 $387,030 $387,030 $25 Galleria vacant land 2,067 98,323 0.02 $17,790 $1,251,240 $1,269,030 $13 Galleria grand total Dallas 3,744,938 1,809,695 2.07 $483,536,850 $51,629,670 $535,166,520 $143 $29 2012 Legacy Town Center 7240 Dallas Parkway 108,337 272,816 0.40 $1,557,760 $4,092,240 $5,650,000 $52 $15 5800 Legacy 62,853 140,829 0.45 $8,556,199 $2,112,442 $10,668,641 $170 $15 5760 Legacy 106,144 218,236 0.49 $22,763,481 $2,618,827 $25,382,308 $239 $12 7161 Bishop 30,814 52,969 0.58 $3,869,224 $1,059,379 $4,928,603 $160 $20 2002 5700 Legacy 20,509 96,834 0.21 $2,901,092 $1,452,508 $4,353,600 $212 $15 2002 Angelika, UO, Ginger Man 7205 Bishop 45,960 75,359 0.61 $8,808,968 $1,130,382 $9,939,350 $216 $15 $2,310,522 $50 Retail stores and theater 374,617 857,043 0.44 $48,456,724 $12,465,778 $60,922,502 $163 $15 7121 Bishop 341,917 124,608 2.74 $39,673,380 $1,869,120 $41,542,500 $121 $15 7120 Dallas 0 57,173 0.00 $814,040 $1,143,460 $1,957,500 $20 Hotel 341,917 181,780 1.88 $40,487,420 $3,012,580 $43,500,000 $127 $17 6900 Dallas 374,300 292,985 1.28 $71,605,232 $4,394,768 $76,000,000 $203 $15 7160 Dallas 159,007 171,278 0.93 $27,430,831 $2,569,169 $30,000,000 $189 $15 Office buildings 533,307 464,262 1.15 $99,036,063 $6,963,937 $106,000,000 $199 $15 7008 Bishop 312,593 200,986 1.56 $29,690,456 $2,411,830 $32,102,286 $103 $12 5760 Daniel 90,122 32,082 2.81 $6,007,527 $802,049 $6,809,576 $76 $25 6901 Hansell 58,886 36,198 1.63 $4,931,820 $904,959 $5,836,779 $99 $25 2006 4751 Martin 135,304 65,776 2.06 $8,860,009 $1,183,961 $10,043,970 $74 $18 1999 5741 Martin 237,306 121,968 1.95 $16,392,320 $1,463,616 $17,855,936 $75 $12 7001 Parkwood 254,948 143,330 1.78 $22,599,955 $1,719,958 $24,319,913 $95 $12 Pearson 0 102,706 0.00 $0 $1,540,587 $1,540,587 $15 5700 Scruggs 92,676 66,211 1.40 $8,403,741 $1,324,224 $9,727,965 $105 $20 2006 5701 Scruggs 53,638 34,482 1.56 $4,974,726 $862,053 $5,836,779 $109 $25 2004 5701 Scruggs 96,347 107,419 0.90 $9,089,478 $1,611,284 $10,700,762 $111 $15 2004 5720 Scruggs 16,526 19,467 0.85 $1,458,919 $486,674 $1,945,593 $118 $25 2004 Multi-family rental dwellings 1,348,346 930,625 1.45 $112,408,951 $14,311,195 $126,720,146 $94 $15 Open space Legacy 0 102,527 0.00 $0 $1,000 $1,000 $0 Legacy Town Center (except Lunsford townhomes)Plano 2,598,187 2,536,238 1.02 $300,389,158 $36,754,490 $337,143,648 $130 $14 2012 All appraisals are for for tax year 2011, reflecting values as of January 1, 2011, unnless otherwise indicated. Within use types, properties are sorted in descending order of total appraised value per SF of GFA. The purpose of this schedule is to relate actual appraisals for tax purposes and other quantitative measures of comparable development in the metropolitan area. Improvement appraisals include garages, if on the premises. Gross floor area measurements exclude parking garages. Street Address Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 46 Item 9 Appendix C: Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area (a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s) Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address apartments 2140 Medical District 352,598 316,158 1.12 $28,394,130 $4,742,370 $33,136,500 $94 $15 2008 4 396 apartments 2222 Medical District 304,102 203,218 1.50 $28,301,730 $3,048,270 $31,350,000 $103 $15 2006 4 278 retail 2222 Medical District 57,251 35,077 1.63 $3,358,880 $526,160 $3,885,040 $68 $15 2006 1 Cityville at Southwestern Medical Dallas 361,353 238,295 1.52 $31,660,610 $3,574,430 $35,235,040 $98 $15 2012 2006 4 278 5307 Mockingbird 589,374 379,682 $34,054,590 $20,882,510 $54,937,100 1999 211 5307 Mockingbird 7,880 $100,000 $100,000 Mockingbird Station Dallas 589,374 387,562 1.52 $34,054,590 $20,982,510 $55,037,100 $93 $54 2012 apartments, retail, office 15500 Quorum 841,707 364,467 2.31 $55,453,660 $4,373,600 $59,827,260 $71 $12 1998 4-7 610 apartments, retail 4949 Adddsion Circle 407,762 224,857 1.81 $41,341,830 $2,698,280 $44,040,110 $108 $12 1996 4 460 apartments 4901 Morris 158,253 49,353 3.21 $14,540,390 $592,240 $15,132,630 $96 $12 1999 4 171 apartments 4851 Morris 97,809 66,037 1.48 $7,839,630 $660,370 $8,500,000 $87 $10 2000 4 93 Post at Addison Circle Addison 1,505,531 704,713 2.14 $119,175,510 $8,324,490 $127,500,000 $85 $12 2012 1,334 General Retail Highland Park Village 4200 Mockingbird 278,142 423,054 $56,465,550 $43,559,900 $100,025,450 $103 1931 HPV parking north of Mockingbird 4200 Mockingbird 0 100,663 $0 $4,974,550 $4,974,550 $49 Highland Park Village High. Park 278,142 523,717 0.53 $56,465,550 $48,534,450 $105,000,000 $378 $93 2012 Mockingbird Central Plaza 5400 Mockingbird Dallas 71,120 185,718 0.38 $6,425,570 $13,000,260 $19,425,830 $273 $70 2012 1985 2 $1,739,920 $24 NorthPark 8687 N. Central 1,713,484 3,345,060 0.51 $358,796,400 $200,703,600 $559,500,000 $327 $60 1965 2 $122,626,249 $72 Macy's 7901 W. Northwest 250,000 151,088 1.65 $10,209,380 $9,065,280 $19,274,660 $77 $60 2000 2 $11,798,380 $47 Nordstrom 7901 W. Northwest 202,905 0 $16,130,950 $0 $16,130,950 2004 2 $19,399,290 $96 Neiman Marcus 400 Northpark 139,940 83,625 1.67 $12,582,500 $5,017,500 $17,600,000 $126 $60 1965 2 $25,933,200 $185 8850 Boedeker 64,307 87,165 0.74 $16,760 $4,358,240 $4,375,000 $68 $50 1973 3 N.A. NorthPark total Dallas 2,370,636 3,666,938 0.65 $397,735,990 $219,144,620 $616,880,610 $260 $60 2012 $179,757,119 $78 Lincoln Park (retail with grocery)7700 W. Northwest Dallas 153,642 502,208 0.31 $6,867,520 $30,132,480 $37,000,000 $241 $60 2012 1997 $4,992,560 $32 Walgreen's 5742 E. Mockingbird Dallas 15,328 63,005 0.24 $1,229,580 $1,575,130 $2,804,710 $183 $25 2012 2001 1 $1,120,060 $73 Sleep Experts, etc 10910 N Central 10,215 45,999 0.22 $542,870 $919,980 $1,462,850 $143 $20 2005 1 $98,000 $10 10910 N Central 0 7,356 0.00 $0 $50,000 $50,000 $7 10910 N Central 13,172 52,141 0.25 $966,960 $1,042,820 $2,009,780 $153 $20 2005 1 $98,220 $7 Backyard Burgers 10930 N Central 2,223 19,950 0.11 $339,040 $399,000 $738,040 $332 $20 2006 1 $128,350 $58 Royal Crossing Shopping Center Dallas 25,610 125,446 0.20 $1,848,870 $2,411,800 $4,260,670 $166 $19 2012 $324,570 $13 Southlake Town Square commercial Excluding tax-exempt properties Southlake 1,143,012 2,424,705 0.47 $183,771,608 $25,342,121 $209,113,729 $183 $10 2010 Taxable, including tax-exempt SF Southlake 1,541,319 3,046,932 0.51 $183,771,608 $25,342,121 $209,113,729 $136 $8 2010 Whatburger, Taco Bell, Long John 1201 W. Glade Euless 6,951 66,399 0.10 $945,264 $1,344,580 $2,289,844 $329 $20 2003 $254,531 $37 Mixed retail and services 1301 W. Glade Euless 73,739 331,152 0.22 $7,322,250 $2,483,640 $9,805,890 $133 $8 2001 $1,492,089 $20 Chick-Fil-A, Parker Uniforms, etc.3001 State Hwy. 121 Euless 4,162 40,709 0.10 $185,018 $824,357 $1,009,375 $243 $20 2001 $695,339 $167 7-Eleven and Citgo 3011 State Hwy. 121 Euless 3,285 40,075 0.08 $193,028 $901,688 $1,094,716 $333 $23 1998 $215,661 $66 Heritage Crossing Center total 1201 W. Glade Euless 88,137 478,335 0.18 $8,645,560 $5,554,265 $14,199,825 $161 $12 2012 2003 $2,657,620 $30 MacArthur Mills shopping center 4000 N. MacArthur Irving 137,223 572,269 0.24 $14,277,310 $5,722,690 $20,000,000 $146 $10 2012 1987 CVS 3614 Camp Bowie Fort Worth 16,092 70,800 0.23 $684,570 $1,593,000 $2,277,570 $142 $23 2010 1 $955,411 $59 Grapevine Mills Center 2225 Grapevine Mills Cir 78,344 149,063 0.53 $4,981,422 $894,378 $5,875,800 $75 $6 1997 2219 Grapevine Mills Cir 53,384 144,794 0.37 $4,469,636 $868,764 $5,338,400 $100 $6 1997 3000 Grapevine Mills Pkwy 1,244,207 5,423,176 0.23 $147,406,980 $32,539,056 $179,946,036 $145 $6 1997 Grapevine Mills Center total Grapevine 1,375,935 5,717,033 0.24 $156,858,038 $34,302,198 $191,160,236 $139 $6 2011 Stonebriar Mall dept. stores (5)884,477 2,475,763 0.36 $19,956,505 $24,757,630 $44,714,135 $51 $10 Other mall stores inside ring road 1,232,169 2,147,726 0.57 $206,462,298 $21,958,340 $228,420,638 $185 $10 Stonebriar Mall outside ring road 525,865 3,661,545 0.14 $43,755,263 $53,081,085 $96,836,348 $184 $14 Stonebriar Mall total Frisco 2,642,511 8,285,034 0.32 $270,174,066 $99,797,055 $369,971,121 $140 $12 2012 2000 Best Buy, Toys R Us, Golf Galaxy 9358 N. Central Dallas 184,996 636,318 0.29 $9,092,050 $15,907,950 $25,000,000 $135 $25 2012 1992 $6,504,550 $35 Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 47 Item 9 Appendix C: Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area (a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s) Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address South Frisco Village 2930 Preston Frisco 234,866 1,092,703 0.21 $20,758,376 $8,741,624 $29,500,000 $126 $8 2012 2001 $7,735,970 $33 907 Bethany 753,787 1,287,546 0.59 $87,527,665 $7,725,279 $95,252,944 $126 $6 2007 985 Bethany 72,060 186,228 0.39 $6,178,709 $1,117,366 $7,296,075 $101 $6 2007 Watters Creek at Montgmery Farm Allen 825,847 1,473,774 0.56 $93,706,374 $8,842,645 $102,549,019 $124 $6 2012 medical and Chipotle 11613 N. Central 61,916 209,038 0.30 $1,567,300 $4,703,360 $6,270,660 $101 $23 1979 $712,870 medical 11617 N. Central 28,400 88,879 0.32 $1,056,320 $1,999,780 $3,056,100 $108 $23 1979 $1,092,940 Boston Market 11717 N. Central 4,240 24,805 0.17 $274,180 $595,320 $869,500 $205 $24 1981 $351,410 7-Eleven 7950 Forest 2,016 16,291 0.12 $304,080 $488,730 $792,810 $393 $30 1976 $134,430 Schlotzky's 7804 Forest 2,700 13,984 0.19 $197,210 $314,640 $511,850 $190 $23 1979 $70,180 Taco Bueno 7940 Forest 2,806 23,640 0.12 $41,040 $567,360 $608,400 $217 $24 1979 $130,650 Central Forest Shopping Center total Dallas 102,078 376,637 0.27 $3,440,130 $8,669,190 $12,109,320 $119 $23 2012 $2,492,480 $24 Chase Bank 908 McDermott W.4,485 52,485 0.09 $586,105 $970,973 $1,557,078 $347 $18 1999 $238,615 $53 Hobby Lobby, Fed Ex 107 Central N.135,221 504,826 0.27 $14,327,760 $3,533,782 $17,861,542 $132 $7 1999 $789,072 $6 Compass Bank 806 McDermott W.2,607 54,886 0.05 $334,590 $987,948 $1,322,538 $507 $18 1999 $66,350 $25 Jack in the Box 804 McDermott W.2,799 35,092 0.08 $372,569 $666,748 $1,039,317 $371 $19 1999 $98,850 $35 Golden Chick 802 McDermott W.3,915 56,192 0.07 $299,788 $1,180,040 $1,479,828 $378 $21 1999 $159,699 $41 Chipotle Mexican Grill 103 Central N.4,683 40,946 0.11 $448,382 $777,974 $1,226,356 $262 $19 2000 $108,989 $23 Stacy's Furniture, etc.111 Central N.125,370 447,453 0.28 $5,287,855 $3,355,898 $8,643,753 $69 $8 1999 $2,201,800 $18 Arby's 201 Central N.2,950 35,589 0.08 $398,076 $605,013 $1,003,089 $340 $17 1999 $63,857 $22 Holiday Inn Express 205 Central N.50,523 92,430 0.55 $2,814,345 $785,655 $3,600,000 $71 $9 2006 $0 $0 On the Border 213 Central N.7,200 66,054 0.11 $684,848 $1,122,918 $1,807,766 $251 $17 2000 $224,466 $31 209 Central N.4,188 23,435 0.18 $319,117 $398,395 $717,512 $171 $17 2001 Jason's Deli, misc. retail 906 McDermott W.29,259 186,380 0.16 $3,130,756 $1,304,660 $4,435,416 $152 $7 1999 $2,098,372 $72 Tom Thumb 900 McDermott W.59,964 267,350 0.22 $3,267,433 $2,005,125 $5,272,558 $88 $8 1999 $2,991,904 $50 914 McDermott W.7,500 29,664 0.25 $1,173,978 $504,288 $1,678,266 $224 $17 2000 Chik-Fil-A 902 McDermott W.3,910 32,247 0.12 $552,435 $548,199 $1,100,634 $281 $17 1999 $288,525 $74 SWH 810 McDermott W.6,600 52,904 0.12 $657,523 $925,820 $1,583,343 $240 $18 2000 $316,700 $48 24-Hour Fitness 510 Watters N.38,485 146,017 0.26 $4,183,201 $803,096 $4,986,297 $130 $5 2002 $477,621 $12 vacant 504 Watters N.0 55,452 0.00 $0 $304,985 $304,985 $5 $0 N.A. McDermott @ Central (NW corner)Allen 489,659 2,179,403 0.22 $38,838,761 $20,781,517 $59,620,278 $122 $10 2012 $10,124,820 $21 Preston Forest Shopping Center 11700 Preston 0 364,015 0.00 $0 $5,460,230 $5,460,230 $15 Whole Foods 11700 Preston 78,040 51,960 1.50 $6,153,460 $779,400 $6,932,860 $89 $15 2006 $4,604,290 $59 11700 Preston 27,824 27,824 1.00 $1,736,890 $417,360 $2,154,250 $77 $15 1960 11700 Preston 88,700 42,200 2.10 $7,023,110 $633,000 $7,656,110 $86 $15 1961 $953,510 $11 Stapels 11700 Preston 29,680 29,280 1.01 $2,254,060 $439,200 $2,693,260 $91 $15 1960 11700 Preston 21,380 21,380 1.00 $1,675,690 $427,600 $2,103,290 $98 $20 1958 Wells Fargo 11730 Preston 3,120 15,655 0.20 $605,350 $469,650 $1,075,000 $345 $30 2003 $204,700 $66 Preston Forest Shopping Center Dallas 248,744 552,314 0.45 $19,448,560 $8,626,440 $28,075,000 $113 $16 2012 Oaktree Plaza Shopping Center 1447 S Loop 288 Denton 69,406 324,086 0.21 $2,791,790 $3,889,032 $6,680,822 $96 $12 2012 1998 1 Willow Bend Mall dept. stores (4)723,629 731,322 0.99 $22,404,305 $8,647,683 $31,051,988 $43 $12 Other mall stores 856,870 2,684,450 0.32 $61,155,496 $26,844,504 $88,000,000 $103 $10 Park Blvd. pad sites 50,628 435,252 0.12 $6,321,746 $11,127,991 $17,449,737 $345 $26 Willow Bend Mall total Plano 1,631,127 3,851,024 0.42 $89,881,547 $46,620,178 $136,501,725 $84 $12 2012 2000 Target 8550 East Freeway 103,664 392,140 0.26 $2,155,200 $2,941,050 $5,096,250 $49 $8 $2,369,942 $23 UA Theater, Ross, Conn's, etc.8350 East Freeway 310,310 1,958,221 0.16 $7,799,022 $14,485,269 $22,284,291 $72 $7 $4,765,326 $15 Eastchase Market Fort Worth 413,974 2,350,361 0.18 $9,954,222 $17,426,319 $27,380,541 $66 $7 2011 1995 $7,135,268 $17 Big Box Retail Best Buy 1515 W. State Hwy 114 Grapevine 45,250 179,928 0.25 $2,836,103 $1,743,650 $4,579,753 $101 $10 2011 $2,754,169 $61 Ashley Furniture, TRS Furnishings 3400 Grapevine Mills Grapevine 51,575 188,876 0.27 $2,422,364 $2,077,636 $4,500,000 $87 $11 2011 2004 $745,039 $14 Wal-Mart Supercenter 1721 Custer N.McKinney 207,893 970,343 0.21 $11,920,488 $5,819,525 $17,740,013 $85 $6 2012 2006 $8,177,926 $39 Best Buy 6750 West Freeway Fort Worth 27,812 84,736 0.33 $1,707,112 $677,888 $2,385,000 $86 $8 2011 $1,637,235 $59 Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 48 Item 9 Appendix C: Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area (a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s) Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address Home Depot 6010 Skillman 97,191 384,138 0.25 $1,000 $5,762,070 $5,763,070 $59 $15 1992 Home Depot 6320 Eastridge 12,080 303,613 $1,993,090 $2,428,900 $4,421,990 $366 $8 Home Depot Dallas 109,271 687,751 0.16 $1,994,090 $8,190,970 $10,185,060 $93 $12 2012 Best Buy 2800 N. Central Plano 45,830 215,012 0.21 $1,880,792 $1,935,108 $3,815,900 $83 $9 2012 1999 $2,840,805 $62 Costco 1701 Dallas Plano 159,547 682,324 0.23 $4,553,013 $8,529,050 $13,082,063 $82 $13 2012 2001 $12,110,156 $76 Wal-Mart Supercenter 6000 Coit Plano 112,965 545,241 0.21 $5,331,624 $3,544,067 $8,875,691 $79 $7 2012 2000 $5,052,481 $45 Costco 3800 Central N.Plano 151,761 716,998 0.21 $6,621,855 $5,018,983 $11,640,838 $77 $7 2012 2000 $10,584,131 $70 Wal-Mart Supercenter 6001 Central N.Plano 208,390 840,621 0.25 $7,806,029 $6,724,967 $14,530,996 $70 $8 2012 1994 $9,465,024 $45 Super Target 5301 N. Garland Garland 174,664 564,455 0.31 $6,303,060 $5,644,550 $11,947,610 $68 $10 2012 2002 $4,629,730 $27 Costco 2604 E Southlake Southlake 146,683 713,084 0.21 $6,002,226 $3,565,420 $9,567,646 $65 $5 2011 2001 $9,946,271 $68 Super Target 601 S. Plano Richardson 175,680 624,825 0.28 $6,837,220 $4,998,600 $11,835,820 $67 $8 2012 2002 $4,467,380 $25 Lowe's 11920 Inwood Dallas 131,740 648,303 0.20 $649,320 $7,779,640 $8,428,960 $64 $12 2012 1997 $5,306,750 $40 Costco 600 W Arbrook Arlington 147,706 679,080 0.22 $2,289,634 $6,790,800 $9,080,434 $61 $10 2011 2001 $9,975,907 $68 Wal-Mart Supercenter 8801 Ohio Plano 224,132 934,645 0.24 $7,534,570 $7,009,838 $14,544,408 $65 $7 2012 2000 $7,899,132 $35 Costco 4901 Citylake E Fort Worth 152,095 867,626 0.18 $3,526,618 $6,073,382 $9,600,000 $63 $7 2011 2000 $9,080,131 $60 Lowe's 1710 Chalk Hill Dallas 132,008 628,571 0.21 $3,990,630 $3,771,430 $7,762,060 $59 $6 2012 $4,692,840 $36 Super Target 3730 Belt Line Addison 122,202 502,574 0.24 $3,511,910 $4,020,590 $7,532,500 $62 $8 2012 1993 $3,436,470 $28 Super Target 1401 W. Glade Euless 181,350 630,971 0.29 $8,016,305 $3,154,855 $11,171,160 $62 $5 2010 $4,372,422 $24 Super Target 1400 Precinct Line Hurst 164,832 742,441 0.22 $6,441,446 $3,712,205 $10,153,651 $62 $5 2010 $3,760,793 $23 Costco 250 US Hwy 67 Duncanville 152,734 716,998 0.21 $5,928,260 $1,971,740 $7,900,000 $52 $3 2012 2006 $9,612,690 $63 Home Depot 11682 Forest Central Dallas 110,214 547,549 0.20 $901,000 $5,475,490 $6,376,490 $58 $10 2012 1998 $5,273,770 $48 Home Depot 6411 Precinct Line NRH 114,189 674,114 0.17 $4,320,219 $2,157,865 $6,478,084 $57 $3 2010 $4,519,810 $40 Home Depot 2220 N. Coit Richardson 111,920 467,225 0.24 $3,196,350 $2,803,350 $5,999,700 $54 $6 2012 1999 $4,605,440 $41 Ross 4629 S. Hulen Fort Worth 29,280 111,949 0.26 $47,850 $1,427,350 $1,475,200 $50 $13 2011 $355,896 $12 Home Depot 251 Industrial Euless 107,500 539,206 0.20 $3,227,176 $2,156,824 $5,384,000 $50 $4 2010 $4,798,256 $45 Lowe's 8520 S. Hampton Dallas 130,112 774,536 0.17 $745,350 $5,421,750 $6,167,100 $47 $7 2012 1997 $4,638,230 $36 Home Depot 300 Village Center Southlake 128,775 502,138 0.26 $814,758 $4,519,242 $5,334,000 $41 $9 2010 $5,081,718 $39 Supermarkets Tom Thumb 7117 Inwood Dallas 42,203 106,766 0.40 $3,888,680 $2,135,320 $6,024,000 $143 $20 2012 2010 $3,600,590 $85 Central Market 5750 E. Lovers Dallas 76,589 313,984 0.24 $926,550 $7,256,320 $8,182,870 $107 $23 2012 2001 $6,229,810 $81 Tom Thumb 3757 Forest Dallas 48,250 165,789 0.29 $2,700,920 $1,657,890 $4,358,810 $90 $10 2012 1984 $2,627,110 $54 Tom Thumb 900 McDermott W.Allen 59,964 267,350 0.22 $3,267,433 $2,005,125 $5,272,558 $88 $8 2012 1999 $2,704,325 $45 Kroger 5665 E. Mockingbird Dallas 79,228 349,046 0.23 $869,490 $5,889,090 $6,758,580 $85 $17 2012 1994 $3,328,410 $42 Tom Thumb 4848 Preston Frisco 63,369 276,044 0.23 $3,191,648 $2,208,352 $5,400,000 $85 $8 2012 1999 $2,885,846 $46 Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 49 Item 9 Appendix C: Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area (a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s) Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address Kroger 950 E. Sandy Lake Coppell 63,507 305,294 0.21 $1,916,370 $2,442,350 $4,358,720 $69 $8 2012 1998 $4,328,110 $68 Kroger 160 Coit Richardson 72,808 306,632 0.24 $2,223,530 $1,947,350 $4,170,880 $57 $6 2012 1995 $1,900,050 $26 Restaurants Freddy's Frozen Custard 2820 State Hwy 121 Euless 3,545 37,371 0.09 $258,753 $934,275 $1,193,028 $337 $25 2012 2008 $183,366 $52 Applebee's 1820 University W.McKinney 5,489 72,092 0.08 $507,377 $1,297,656 $1,805,033 $329 $18 2012 1993 $143,808 $26 Chili's 1610 N. Cockrell Hill Dallas 5,844 85,072 0.07 $635,920 $1,280,080 $1,916,000 $328 $15 2012 2004 $252,860 $43 McDonald's 13105 Montfort Dallas 4,612 30,000 0.15 $766,020 $733,980 $1,500,000 $325 $24 2012 2001 $406,190 $88 Red Lobster 3056 Preston Frisco 7,087 74,226 0.10 $604,723 $1,484,520 $2,089,243 $295 $20 2012 2001 $183,846 $26 Steak N Shake 2205 Grapevine Mills Grapevine 3,884 54,791 0.07 $98,149 $1,027,331 $1,125,480 $290 $19 2012 2001 $112,267 $29 Olive Garden 2886 Preston Frisco 8,144 76,666 0.11 $750,095 $1,533,320 $2,283,415 $280 $20 2012 2001 $288,084 $35 Cracker Barrel 2700 Grapeveine Mills Grapevine 10,148 86,748 0.12 $890,370 $1,759,630 $2,650,000 $261 $20 2012 2006 $507,621 $50 Texas Roadhouse 3001 State Hwy 121 Bedford 7,200 100,912 0.07 $964,970 $731,612 $1,696,582 $236 $7 2012 2005 $230,107 $32 Dickey's Barbecue 711 Keller Parkway Keller 3,434 37,805 0.09 $240,485 $415,855 $656,340 $191 $11 2012 2005 $155,147 $45 Chili's 329 Spring Valley Richardson 6,176 51,531 0.12 $683,030 $412,250 $1,095,280 $177 $8 2012 1982 $153,840 $25 Pappadeaux 725 S. Central Richardson 10,620 130,811 0.08 $837,440 $1,046,490 $1,883,930 $177 $8 2012 1991 $251,300 $24 Applebee's 2215 Grapevine Mills Grapevine 6,897 62,467 0.11 $235,251 $937,005 $1,172,256 $170 $15 2012 1999 $221,287 Chili's 12815 Preston Dallas 6,356 17,500 0.36 $503,360 $516,640 $1,020,000 $160 $30 2012 1983 $280,050 $44 Pappasito's 723 S. Central Richardson 9,145 71,874 0.13 $489,060 $574,990 $1,064,050 $116 $8 2012 1982 $225,700 $25 Hotels Ritz Carlton 2121 McKinney Dallas 284,513 145,686 1.95 $26,427,640 $13,111,740 $39,539,380 $139 $90 2012 2005 8 217 W Hotel 2440 Victory Park Dallas 294,261 20,086 14.65 $35,143,910 $1,004,290 $36,148,200 $123 $50 2012 2004 12 252 Marriott Residences 2500 Museum Fort Worth 106,804 103,280 1.03 $9,286,955 $3,363,830 $12,650,785 $118 $33 2012 150 Melrose Hotel 3015 Oak Lawn Dallas 146,350 118,744 1.23 $10,596,990 $5,937,200 $16,534,190 $113 $50 2012 1923 8 184 Hampton Inn 3199 Parkwood Frisco 67,298 127,021 0.53 $5,296,023 $1,905,300 $7,201,323 $107 $15 2012 2002 105 Embassy Suites 7600 John Q. Hammons Frisco 309,688 80,586 3.84 $30,791,210 $1,208,790 $32,000,000 $103 $15 2012 2004 329 Marriott 8440 Freeport Irving 367,000 504,367 0.73 $34,978,160 $2,521,840 $37,500,000 $102 $5 2012 1981 19 492 $1,078,080 $3 Embassy Suites 2401 Bass Pro Grapevine 329,353 354,251 0.93 $29,103,239 $3,896,761 $33,000,000 $100 $11 2012 1998 329 $107,508 $0 Fairmont Hotel 1717 N. Akard Dallas 579,037 98,886 5.86 $49,942,980 $5,933,160 $55,876,140 $96 $60 2012 1961 24 550 Gaylord Texan 1501 Gaylord Trail Grapevine 2,886,535 2,231,971 1.29 $266,417,640 $7,811,898 $274,229,538 $95 $3 2012 2004 1,511 $1,446,817 $1 Hampton Inn 13600 North Freeway Fort Worth 64,439 101,843 0.63 $5,047,685 $814,744 $5,862,429 $91 $8 2012 102 Homewood Suites 2214 W. Grapevine Mills C Grapevine 85,831 117,495 0.73 $6,307,010 $1,409,940 $7,716,950 $90 $12 2012 2000 105 Richardson Hotel 701 E. Campbell Richardson 238,184 304,920 0.78 $15,808,930 $2,439,360 $18,248,290 $77 $8 2012 1986 18 342 $20,550 $0 Holiday Inn Express 4220 Preston Frisco 32,080 62,674 0.51 $1,813,250 $626,750 $2,440,000 $76 $10 2012 1998 Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 50 Item 9 Appendix C: Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area (a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s) Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address Hilton Garden Inn 705 Central Expy. S.Allen 94,047 151,406 0.62 $5,913,057 $1,286,943 $7,200,000 $77 $8 2012 6 150 $17,326 $0 221 E. Las Colinas 469,805 254,760 1.84 $32,398,970 $2,547,600 $34,946,570 $74 $10 1982 27 421 215 E. Las Colinas 5,135 34,834 0.15 $314,780 $348,340 $663,120 $129 $10 1981 Omni Mandalay Irving 474,940 289,594 1.64 $32,713,750 $2,895,940 $35,609,690 $75 $10 2012 421 900 E. Lookout 176,800 38,155 4.63 $11,260,330 $305,240 $11,565,570 $65 $8 $1,791,610 $10 900 E. Lookout 134723 92,774 1.45 $9,268,649 $881,351 $10,150,000 $75 $9 Marriott Renaissance Richardson 311,523 130,929 2.38 $20,528,979 $1,186,591 $21,715,570 $70 $9 2012 2000 12 218 $87,140 $0 Holiday Inn at Pinnacle Park 4321 Communications Dallas 58,886 108,900 0.54 $2,889,770 $680,630 $3,570,400 $61 $6 2012 2009 4 89 Super 8 Motel 220 W. Spring Valley Richardson 26,352 57,504 0.46 $887,960 $460,030 $1,347,990 $51 $8 2012 57 Budget Suites Hotel 700 Walnut Ridge Irving 137,293 304,876 0.45 $3,215,680 $3,658,510 $6,874,190 $50 $12 2012 1998 3 336 Super 8 Motel 910 N. Central McKinney 30,486 79,597 0.38 $360,321 $795,970 $1,156,291 $38 $10 2012 3 Super 8 Motel 1704 N. Central Plano 36,975 87,612 0.42 $663,327 $525,673 $1,189,000 $32 $6 2012 Cinema Cinemark Theater 7201 Central Plano 100,530 856,825 0.12 $8,644,569 $5,355,431 $14,000,000 $139 $6 2012 1998 $1,512,267 $15 Studio Movie Grill 11170 N. Central Dallas 59,829 222,178 0.27 $2,204,720 $4,443,560 $6,648,280 $111 $20 2012 1993 $1,892,960 $32 Cinemark Theater 1701 Central S.McKinney 55,744 385,201 0.14 $3,505,914 $2,664,086 $6,170,000 $111 $7 2012 1994 $455,018 $8 AMC Mesquite 30 19919 LBJ Mesquite 130,891 1,028,451 0.13 $8,943,100 $2,056,900 $11,000,000 $84 $2 2012 1997 $1,074,100 $8 Office buildings Texas Health Resources Center 7115 Greenville Dallas 87,621 159,430 0.55 $16,710,900 $1,913,100 $18,624,000 $213 $12 2012 2002 4 $7,743,490 $88 2100 McKinney 2100 McKinney Dallas 374,654 136,491 2.74 $52,416,830 $12,284,190 $64,701,020 $173 $90 2012 1998 13 $8,349,040 $22 Knox Park Village 3001 Knox Dallas 79,127 87,172 0.91 $7,986,120 $3,486,880 $11,473,000 $145 $40 2012 2002 4 $1,534,810 $19 Hall Office Park (developed tracts only)Frisco 2,009,099 5,462,293 0.37 $238,659,643 $38,907,630 $277,567,273 $138 $7 2012 Chase Tower 2200 Ross Dallas 1,253,167 111,993 11.19 $165,244,190 $6,741,970 $171,986,160 $137 $60 2012 1985 55 $26,747,200 $21 5201 N. O'Connor 32,887 81,478 0.40 $6,979,220 $814,780 $7,794,000 $237 $10 1981 3 5205 N. O'Connor 411,592 222,967 1.85 $52,664,330 $2,229,670 $54,894,000 $133 $10 1981 14 5215 N. O'Connor 735,258 210,408 3.49 $90,074,920 $2,104,080 $92,179,000 $125 $10 1981 28 5221 N. O'Connor 411,592 157,408 2.61 $52,955,920 $1,574,080 $54,530,000 $132 $10 1981 14 Williams Center Irving 1,591,329 672,261 2.37 $202,674,390 $6,722,610 $209,397,000 $132 $10 2012 Facial Surgery Center 6101 Chapel Hill Plano 27,100 103,220 0.26 $2,342,101 $1,238,628 $3,580,729 $132 $12 2012 2003 TGI Friday's Headquarters 4201 Marsh Carrollton 138,598 520,324 0.27 $12,973,777 $5,203,240 $18,177,017 $131 $10 2012 2003 2 $1,841,000 $13 Trammell Crow Center 2001 Ross Dallas 1,245,324 95,048 13.10 $149,297,120 $5,702,880 $155,000,000 $124 $60 2012 1982 54 $22,650,010 $18 Accor (Billingsley)4001 International Carrollton 139,102 357,366 0.39 $12,288,105 $3,573,660 $15,861,765 $114 $10 2012 2003 2 Bailey Plaza 200 Bailey Fort Worth 37,064 62,233 0.60 $3,556,185 $373,398 $3,929,583 $106 $6 2012 $497,325 $13 Wayside Business Center 8222 N. Beltline Irving 136,000 452,588 0.30 $11,709,650 $1,810,350 $13,520,000 $99 $4 2012 2000 2 $1,085,990 $8 Nokia Building 4 6000 Connection Irving 366,000 478,186 0.77 $33,169,880 $2,869,120 $36,039,000 $98 $6 2012 1997 4 $30,352,120 $83 Fountain Place 1445 Ross Dallas 1,297,418 78,848 16.45 $115,003,160 $4,730,880 $119,734,040 $92 $60 2012 1984 60 ATT at Pinnacle Park 4331 Communications Dallas 207,992 520,978 0.40 $18,176,580 $1,823,420 $20,000,000 $96 $3 2012 2000 4 $137,960 $1 Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 51 Item 9 Appendix C: Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area (a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s) Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address NEC America Buildings (2)6535 N. State Hwy 161 543,965 349,382 1.56 $38,800,710 $2,096,290 $40,897,000 $75 $6 1999 4 $7,242,970 $13 NEC America garage 6560 Parkridge 0 491,374 0.00 $4,505,040 $2,456,870 $6,961,910 $5 1999 4 NEC America Irving 543,965 840,756 0.65 $43,305,750 $4,553,160 $47,858,910 $88 $5 2012 1845 Woodall Rodgers 1845 Woodall Rodgers Dallas 185,007 36,190 5.11 $12,992,900 $3,257,100 $16,250,000 $88 $90 2012 1984 17 $2,347,240 $13 Citicorp North America 3950 Regent Irving 634,939 2,277,883 0.28 $43,010,580 $11,389,420 $54,400,000 $86 $5 2012 2005 3 $3,341,070 $5 Freeport Office Center Ph 3 8700 Freeport Irving 152,200 516,521 0.29 $10,832,180 $1,807,820 $12,640,000 $83 $3 2012 1998 2 $544,720 $4 740 East Campbell 740 E. Campbell Richardson 178,700 116,305 1.54 $13,449,040 $926,960 $14,376,000 $80 $8 2012 1986 10 $1,880,740 $11 5020 Riverside 5000 Riverside Irving 483,257 549,740 0.88 $33,265,960 $4,123,050 $37,389,010 $77 $8 2012 1986 4 $33,769,780 DFW Freeport 8th INST 8650 S. Freeport Irving 95,268 265,215 0.36 $5,751,750 $928,250 $6,680,000 $70 $3 2012 1998 2 $411,110 $4 Royal Regent Business Park 3660 Regent Irving 159,000 587,929 0.27 $5,060,350 $2,939,650 $8,000,000 $50 $5 2012 1999 2 $2,938,230 $18 Data centers Bank of America (Bracebridge)3510 Wyndham Richardson 137,772 513,572 0.27 $51,988,699 $4,108,579 $56,097,278 $407 $8 2012 1999 $44,275,216 $321 AT&T Data Center 900 Venture Allen 126,000 372,786 0.34 $18,316,768 $2,050,326 $20,367,094 $162 $6 2012 $19,936,441 $158 Experian 3400 Stonebridge McKinney 74,530 566,801 0.13 $15,732,772 $2,267,228 $18,000,000 $242 $4 2012 $15,752,168 $211 New Cingular Wireless 800 Venture Allen 159,481 399,619 0.40 $18,728,701 $2,197,907 $20,926,608 $131 $6 2012 $177,538,249 $1,113 Bank of America (Equant)3000 Telecom Richardson 148,849 868,586 0.17 $28,786,781 $3,040,052 $31,826,833 $214 $3 2012 $31,581,133 $212 1001 E. Campbell Data Center 1001 E. Campbell Richardson 75,725 259,544 0.29 $5,634,030 $2,076,350 $7,710,380 $102 $8 2012 1980 1 $20,570,550 $272 State Farm Data Center 8225 Bent Branch Irving 251,160 996,783 0.25 $13,909,650 $2,990,350 $16,900,000 $67 $3 2012 1996 1 $28,272,470 $113 Residences, rental Alta Uptown 2728 McKinnon Dallas 377,476 94,960 3.98 $59,007,200 $5,222,800 $64,230,000 $170 $55 2012 2007 19 375 Windsor at Trianon 2820 McKinnon Dallas 340,538 181,724 1.87 $40,005,180 $9,994,820 $50,000,000 $147 $55 2012 2004 4 317 Marquis on McKinney 3324 McKinney Dallas 141,392 39,814 3.55 $17,561,160 $2,388,940 $19,950,100 $141 $60 2012 2002 7 144 Ashton 2215 Cedar Springs Dallas 386,790 96,790 4.00 $43,744,760 $5,807,400 $49,552,160 $128 $60 2012 2003 18 267 Gables Ellis Street 3101 State Dallas 118,211 116,819 1.01 $10,372,240 $4,672,760 $15,045,000 $127 $40 2012 2001 3 82 The Mondrian 3000 Blackburn Dallas 361,984 123,275 2.94 $35,987,120 $8,012,880 $44,000,000 $122 $65 2012 2003 20 218 Jefferson at 1001 Ross 1001 Ross Dallas 222,581 77,816 2.86 $22,109,200 $3,890,800 $26,000,000 $117 $50 2012 2003 3 204 Hi Line Apartments 1551 Oak Lawn Dallas 343,060 214,489 1.60 $35,318,250 $3,217,340 $38,535,590 $112 $15 2012 2008 4 355 Cityville at Fitzhugh 2819 N. Fitzhugh Dallas 186,359 155,596 1.20 $17,866,180 $2,333,820 $20,200,000 $108 $15 2012 2004 3 222 Lofts at Las Colinas 1000 Lake Carolyn Irving 363,624 234,658 1.55 $35,643,420 $2,346,580 $37,990,000 $104 $10 2012 2003 4 341 Legacy Apartments - UDR 7008 Bishop Plano 312,593 200,986 1.56 $29,690,456 $2,411,830 $32,102,286 $103 $12 2012 2005 Galatyn Urban Center 2301 Performance Richardson 364,798 195,236 1.87 $35,928,580 $1,171,420 $37,100,000 $102 $6 2012 2007 4 278 Easton 2525 Henderson Dallas 128,630 129,198 1.00 $10,486,040 $2,583,960 $13,070,000 $102 $20 2012 2003 3 150 Pavilion Townplace 7700 W. Greenway Dallas 327,016 446,555 0.73 $19,294,350 $13,465,650 $32,760,000 $100 $30 2012 2001 3 273 Alta Cobb Hill 6000 Eldorado Frisco 360,589 1,001,401 0.36 $29,168,673 $6,008,405 $35,177,078 $98 $6 2012 2008 4 340 Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 52 Item 9 Appendix C: Appraisals of Comparable Properties in the Dallas-Fort Worth Metropolitan Area (a)(b)(c)(d)(e)(f)(g) (h)(i)(j)(k)(l)(m)(n)(o) (p) (q)(r) (s) Gross Floor Total per Land per Appraisal Year Bus. Personal BPP per Use Development Identity City Floor Area Land SF Coverage Improvements Land Total Value SF GFA Land SF Year Built Stories Units Property SF GFAStreet Address Legacy Apartments - North 7560 Bishop Plano 328,176 295,772 1.11 $30,144,140 $1,774,634 $31,918,774 $97 $6 2012 2007 The Mission at La Villita - Ph 2 6714 Deseo Irving 161,973 253,911 0.64 $14,384,360 $1,015,640 $15,400,000 $95 $4 2012 2006 3 159 Cityville at Live Oak 4207 Live Oak Dallas 200,466 174,981 1.15 $17,250,200 $1,749,800 $19,000,000 $95 $10 2012 2003 3 239 Jefferson at Park Central 11903 Coit Dallas 540,919 603,524 0.90 $34,515,420 $14,484,580 $49,000,000 $91 $24 2012 1999 3 764 Northbridge at the Village 8603 Southwestern Dallas 355,524 715,125 0.50 $21,259,020 $10,726,880 $31,985,900 $90 $15 2012 1999 3 392 Canal Side Lofts 350 E. Las Colinas Irving 324,749 216,650 1.50 $25,833,330 $2,166,670 $28,000,000 $86 $10 2012 2005 306 Granite Cross Creek 2701 Grapevine Mills Grapevine 371,070 1,496,035 0.25 $28,583,921 $3,366,079 $31,950,000 $86 $2 2012 1999 Jefferson at Bryan Place 2801 Live Oak Dallas 322,533 182,255 1.77 $23,108,870 $3,645,100 $26,753,970 $83 $20 2012 2002 4 302 Monterra 301 W. Las Colinas Irving 318,005 286,407 1.11 $23,135,930 $2,864,070 $26,000,000 $82 $10 2012 2006 4 282 Bella Casita 851 Lake Carolyn Irving 276,758 233,307 1.19 $19,916,930 $2,333,070 $22,250,000 $80 $10 2012 2006 4 268 Hi Line Apartments 1900 Hi Line Dallas 341,000 160,605 2.12 $24,515,920 $2,409,080 $26,925,000 $79 $15 2012 2008 4 214 La Villita Phase 1 6504 Deseo Irving 183,274 186,175 0.98 $12,555,300 $744,700 $13,300,000 $73 $4 2012 2004 3 129 1520 N. Beckley 428,759 713,940 0.60 $19,600,600 $7,139,400 $26,740,000 $62 $10 2001 3 338 1401 N. Zang 290,902 605,528 0.48 $16,509,330 $6,055,280 $22,564,610 $78 $10 2003 3 336 Grand Estates at Kessler Park Dallas 719,661 1,319,468 0.55 $36,109,930 $13,194,680 $49,304,610 $69 $10 2012 2003 4 674 Mandalay on the Lake 620 Lake Carolyn Irving 463,152 320,645 1.44 $27,793,550 $3,206,450 $31,000,000 $67 $10 2012 2004 3 366 Parks of Austin Ranch Windhaven The Colony 576,720 1,061,034 0.54 $29,933,796 $6,366,204 $36,300,000 $63 $6 2012 1999 484 Jefferson at University 4400 W. University Dallas 482,441 458,600 1.05 $24,525,000 $4,586,000 $29,111,000 $60 $10 2012 2000 3 410 Mansions of Prosper 980 S. Coit Prosper 272,584 845,086 0.32 $12,883,057 $3,380,343 $16,263,400 $60 $4 2012 2008 2 308 Project and Financing Plan, Prosper TIRZ Number Two, May 8, 2013 Page 53 Item 9 Page 1 Interlocal Cooperation Agreement for Participation in Prosper TIRZ Number Two Town of Prosper and Collin County (ed. 5-9-13) (TM 57856) STATE OF TEXAS § § § COUNTY OF COLLIN § Inter-Local Cooperation Agreement for Participation in Prosper TIRZ Number Two This Inter-Local Cooperation Agreement for Participation in Town of Prosper TIRZ Number Two (“Agreement”) is made by and between the Town of Prosper, Texas (the “Town”) and Collin County, Texas (the “County”), acting by and through their respective authorized officers. WITNESSETH: WHEREAS, on the 22nd day of January, 2013, the Prosper Town Council approved Ordinance No. 13-04 designating Town of Prosper Tax Increment Financing Reinvestment Zone Number Two (“TIRZ Number Two”) with a term of twenty-five (25) years in accordance with the Tax Increment Financing Act, as V.T.C.A., Tax Code, Chapter 311, (the “Act”), to promote development and redevelopment through the use of tax increment financing and designating the TIRZ Number Two pursuant to the Act; and WHEREAS, the Town, by Ordinance No. 13-04, contributes seventy percent (70%) of the Town's Tax Increment from real property ad valorem taxes in the TIRZ Number Two (excluding “roll back” taxes assessed and collected by the Town; one hundred percent (100%) of the Town “roll back” taxes assessed and collected by the Town; twenty-five percent (25%) of the Town’s annual municipal Sales and Use Tax (hereinafter defined) collections above the Sales and Use Tax Base (hereinafter defined); and fifty percent (50%) of the one-half of one percent (0.5%) sales and use tax imposed pursuant to the Development Corporation Act, Chapters 501- 505, Texas Local Government Code, on behalf of the Prosper Economic Development Corporation, to be paid to the Town by the Prosper Economic Development Corporation pursuant to a separate agreement and pledged to the Tax Increment Fund (hereinafter defined) for design, installation, and construction of Infrastructure (hereinafter defined) and other authorized projects for or within TIRZ Number Two; and WHEREAS, the Town and MSW Prosper 380 LP, a Texas limited partnership (“MSW”) entered into that certain Development and Financing Agreement dated December 31, 2012, for the construction and financing of a certain infrastructure defined therein as “Public Improvements” within TIRZ Two (the “Development and Financing Agreement”); and WHEREAS, on May 14, 2013 the TIRZ Number Two Board of Directors, and the Town Council by Ordinance adopted the Final Project and Financing Plan for TIRZ Number Two; and WHEREAS, the County intends to contribute fifty percent (50%) of the Tax Increment for a period of twenty-five (25) years to the Tax Increment Fund for Project Specific Categories (hereinafter defined); and Item 9 Page 2 Interlocal Cooperation Agreement for Participation in Prosper TIRZ Number Two Town of Prosper and Collin County (ed. 5-9-13) (TM 57856) WHEREAS, the County has conducted a public hearing at which interested persons were entitled to speak and present written materials for or against the approval of the County’s participation as required in the Texas Tax Code Section 311.003; and WHEREAS, the Collin County Commissioners Court finds that the terms of the proposed participation as set forth in this Agreement will meet the Collin County Policy for participation in Tax Increment Financing Zones and that: (i) there will be no substantial adverse effect on the provision of the jurisdiction’s service or tax base; and (ii) participation will not substantially adversely affect the County’s ability to carry out its long range development plans; and WHEREAS, the Act authorizes the expenditure of funds derived within a tax increment financing reinvestment zone for the payment of expenditures made or estimated to be made and monetary obligations incurred or estimated to be incurred by the municipality establishing a reinvestment zone that are listed in the project plan of the reinvestment zone, which expenditures and monetary obligations constitute project costs as defined by the Act. NOW THEREFORE, in consideration of the foregoing, and on the terms and conditions hereinafter set forth, the parties agree as follows: Article I Definitions Wherever used in this Agreement, the following terms shall have the meanings ascribed to them: “Act” shall mean the Tax Increment Financing Act, Chapter 311, Tax Code, as amended. “Board” shall mean the Board of Directors of TIRZ Number Two. “Captured Appraised Value” shall mean the total taxable value of all real property taxable by a Taxing Unit and located in TIRZ Number Two for the year less the Tax Increment Base of the Taxing Unit. “County” shall mean Collin County, Texas. “Effective Date” shall mean the last date of execution hereof. “Expiration Date” shall mean the earlier of the date of the 25th annual payment of the County Tax Increment to the Tax Increment Fund and the date of termination of TIRZ Number Two. “Infrastructure” shall mean public infrastructure consisting of public streets and roads, water, sewer and electric utilities, gas utilities, drainage, trails, open space and Item 9 Page 3 Interlocal Cooperation Agreement for Participation in Prosper TIRZ Number Two Town of Prosper and Collin County (ed. 5-9-13) (TM 57856) related improvements, within TIRZ Number Two, including: (1) the design, engineering and construction of public streets, roads, streetscape, traffic signals, bridges, parking facilities and other transportation projects; (2) the design, engineering, construction and installation of water, electric and gas and other utilities; (3) the design, engineering, construction and installation of drainage and related improvements, storm sewers, detention ponds, retention ponds, drainage pipes, culverts, over-sizing of facilities, trails, open space, and urban design elements within TIRZ Number Two as identified in the Project Plan. “Maximum Reimbursement Amount” shall mean an amount of no more than Nine Million Seven Hundred Ten Thousand Seven Hundred Twenty-Seven Dollars ($9,938,000.00) of the County’s Tax Increment which shall be deposited in the Tax Increment Fund during the term of TIRZ Number Two and used for Project Specific Categories. “Project Plan” shall mean the project and financing plan for TIRZ Number Two approved by the Board and the Town Council for the Town, as amended. “Project Specific Categories” shall mean Infrastructure elements identified in the Project Plan and as further described in Exhibit “A”, towards which the County agrees to contribute its Tax Increment. “Sales and Use Tax” shall mean the Town’s one percent (1%) sales and use tax imposed pursuant to Chapter 321, Tax Code, on the sale of Taxable Items in the TIRZ Number Two. Sales and Use Tax does not include any additional sales and use tax imposed by the Town for any purpose, including one-half of one percent (0.5%) sales and use tax imposed by the Town pursuant to the Development Corporation Act of 1979, Chapters 501-501, Texas Local Government Code, on behalf of the Prosper Economic Development Corporation, and the one-half of one percent (0.5%) Sales and Use Tax imposed by the Town for property tax reduction. “Sales Tax Base” shall mean the amount of municipal sales and use taxes attributable to the zone for the year in which the TIRZ Number Two was designated. “Tax Increment” shall mean the total amount of property taxes by a Taxing Unit for the year on the Captured Appraised Value of real property taxable by a Taxing Unit and located in TIRZ Number Two. Tax Increment includes the Town “rollback” taxes assessed and collected by the Town “Tax Increment Base” shall mean the total taxable value of all real property taxable by a Taxing Unit and located in the TIRZ Number Two for the year in which TIRZ Number Two was designated (2013). “Tax Increment Fund” shall mean the funds deposited by the Town and any Taxing Unit in the tax increment fund for TIRZ Number Two. Item 9 Page 4 Interlocal Cooperation Agreement for Participation in Prosper TIRZ Number Two Town of Prosper and Collin County (ed. 5-9-13) (TM 57856) “Taxable Items” means both “taxable items” and “taxable services” as those terms are defined by Tax Code, Chapter 151, as amended. “Taxing Unit” shall mean the Town of Prosper, Collin County, Texas and any Taxing Unit that taxes real property within TIRZ Number Two that enters into an agreement with the Town to contribute to the Tax Increment Fund. “TIRZ Number Two” shall mean Town of Prosper Tax Increment Financing Zone Number Two. “Town” shall mean the Town of Prosper, Collin County, Texas. Article II Term The term of this Agreement shall begin on the Effective Date and shall continue until the Expiration Date, unless sooner terminated as provided herein. Article III TIRZ Projects 3.1 In consideration of the mutual benefits to be derived from the funding of the TIRZ Number Two Improvements and in consideration of the increased future tax base generated from this development, County shall contribute an amount equal to fifty percent (50%) of its Tax Increment to the Tax Increment Fund pursuant to the Act and as authorized by the Collin County Commissioners’ Court Order No. ________ dated ______, 2013 for a period of twenty-five (25) years not to exceed the Maximum Reimbursement Amount. The County shall annually pay its Tax Increment to the Tax Increment Fund beginning with tax year 2014 and continue for a period of twenty-five (25) years during the term of TIRZ Number Two unless sooner terminated as provided herein. 3.2 The County is not obligated to pay the County Tax Increment from any source other than taxes collected on the Captured Appraised Value. Furthermore, the County has no duty or obligation to pay the County Tax Increment from any other County taxes or revenues or until the County Tax Increment in the TIRZ Number Two is actually collected. The obligation to pay the County Tax Increment accrues as taxes representing the County Tax Increment are collected by the County, and payment shall be due on May 1 of each year the County participates in the TIRZ Number Two. No interest or penalty will be charged to the County for any late payment received from the County; provided, however, the penalty and interest received by the County on any delinquent taxes from the County Tax Increment shall be paid to the Tax Increment Fund. Any portion of the taxes representing the County Tax Increment that are paid to the County and subsequently refunded pursuant to a provision of the Texas Tax Code, as amended, shall be offset against future payments to the Tax Increment Fund. Further, the County is not required to pay Tax Increment into the Tax Increment Fund of the TIRZ Number Item 9 Page 5 Interlocal Cooperation Agreement for Participation in Prosper TIRZ Number Two Town of Prosper and Collin County (ed. 5-9-13) (TM 57856) Two after three (3) years from the date the TIRZ Number Two is created unless the following conditions exist or have been met within the three (3) year period: (1) bonds have been issued for the TIRZ Number Two; or (2) the Town has acquired property in the TIRZ Number Two pursuant to the Project Plan; or (3) construction of improvements pursuant to the Project Plan has begun in the TIRZ Number Two; or (4) a development agreement (or agreements) has been approved for Project costs in the TIRZ Number Two. 3.3 The obligation of the County to participate in the TIRZ Number Two is limited to the area described in the Project Plan. The County’s participation does not extend to the tax increment on any additional property added to the TIRZ Number Two unless the County specifically agrees to participate in the additional area. 3.4 Notwithstanding anything to the contrary in Town’s Ordinance creating the TIRZ Number Two, pursuant to the provisions of Section 311.009(a) of the Texas Tax Code, as amended, the County shall have the right to appoint and thereafter at all times maintain one (1) member on the Board of Directors of the TIRZ Number Two. Failure of the County to appoint a person to the Board of Directors of the TIRZ Number Two shall not be deemed a waiver of the County’s right to make an appointment at a later date. The County will make good faith efforts to appoint and maintain a person to serve on the Board. 3.5 The Town agrees to provide the County with any proposed amendments to the Project Plan at least fourteen (14) days prior to their submission to the Town Council for approval. 3.6 Upon termination of the TIRZ Number Two, and after all obligations and bonded indebtedness of the TIRZ Number Two have been paid, the Town and the Board shall pay to the County, within sixty (60) days of said termination, all monies remaining in the Tax Increment Fund that are attributable to the County Tax Increment paid by the County into the Tax Increment Fund. 3.7 The County’s Tax Increment contributed to the Tax Increment Fund shall be applied in the following order of priority: (i) amounts pledged or required for payment of outstanding bonds or debt issued for TIRZ Number Two projects, if any; (ii) administrative costs of TIRZ Number Two as approved by the Board and the Town Council for the Town (not to exceed 10% of the County’s Tax Increment); (iii) maintenance of a minimum balance of $25,000.00 in the Tax Increment Fund; and (iv) for Infrastructure as approved by the Board and the Town Council for the Town. The Tax Increment Fund may not be used for projects not included in the Project Plan. The County’s tax increment may only be used for Infrastructure costs and related financing as shown in the Project Specific Categories in Exhibit “A”. 3.8 No portion of the Tax Increment contributed to the TIRZ Number Two by the County may be paid to the Town for administrative fees. Item 9 Page 6 Interlocal Cooperation Agreement for Participation in Prosper TIRZ Number Two Town of Prosper and Collin County (ed. 5-9-13) (TM 57856) Article IV Termination This Agreement shall terminate upon any one of the following: (a) by written agreement of the parties; (b) upon the Expiration Date; (c) by either party, if any subsequent Federal or State legislation or any decision of a court of competent jurisdiction declares or renders this Agreement invalid, illegal or unenforceable; (d) upon County contribution of the Maximum Reimbursement Amount to the Tax Increment Fund; or (e) by the County, in the event at least one of the following has not occurred within three (3) years after the TIRZ Number Two was designated: (1) issuance of bonds for TIRZ Number Two; (2) acquisition of property by the Town in TIRZ Number Two pursuant to the Project Plan; or (3) construction of improvements pursuant to the Project Plan has begun in TIRZ Number Two. Article V Miscellaneous 5.1 Binding Agreement. The terms and conditions of this Agreement are binding upon the successors and assigns of all parties hereto. This Agreement may not be assigned without the consent of either party. 5.2 Authorization. Each party represents that it has full capacity and authority to grant all rights and assume all obligations that are granted and assumed under this Agreement. 5.3 Notice. Any notice required or permitted to be delivered hereunder shall be deemed received three (3) days thereafter sent by United States Mail, postage prepaid, certified mail, return receipt requested, addressed to the party at the address set forth below or on the day actually received when sent by courier or otherwise hand delivered. If intended for Town, to: Attn: Harlan Jefferson Town Manager Town of Prosper P.O. Box 307 Prosper, Texas 75078 With copy to: Peter G. Smith Nichols, Jackson, Dillard Hager & Smith, L.L.P. 1800 Lincoln Plaza 500 North Akard Dallas, Texas 75201 Item 9 Page 7 Interlocal Cooperation Agreement for Participation in Prosper TIRZ Number Two Town of Prosper and Collin County (ed. 5-9-13) (TM 57856) If intended for County, to: Judge Keith Self Collin County Administration Building Suite 4192 2300 Bloomdale Road McKinney, Texas 75071 5.4 Entire Agreement. This Agreement is the entire Agreement between the parties with respect to the subject matter covered in this Agreement. There is no other collateral oral or written Agreement between the parties that in any manner relates to the subject matter of this Agreement, except as provided in any exhibits attached hereto. 5.5 Governing Law. The Agreement shall be governed by the laws of the State of Texas; and venue for any action concerning this Agreement shall be in the State District Court of Collin County, Texas. The parties agree to submit to the personal and subject matter jurisdiction of said Court. 5.6 Amendment. This Agreement may be amended by the mutual written agreement of the parties. 5.7 Legal Construction. In the event any one or more of the provisions contained in this Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect other provisions, and it is the intention of the parties to this Agreement that in lieu of each provision that is found to be illegal, invalid, or unenforceable, a provision be added to this Agreement which is legal, valid and enforceable and is as similar in terms as possible to the provision found to be illegal, invalid or unenforceable. 5.8 Recitals. The recitals to this Agreement are incorporated herein. 5.9 Counterparts. This Agreement may be executed in counterparts. Each of the counterparts shall be deemed an original instrument, but all of the counterparts shall constitute one and the same instrument. 5.10 Survival of Covenants. Any of the representations, warranties, covenants, and obligations of the parties, as well as any rights and benefits of the parties, pertaining to a period of time following the termination of this Agreement shall survive termination. 5.11 Approval of Parties. Whenever this Agreement requires or permits the approval or consent to be given by a party, the parties agree that such approval or consent shall not be unreasonably withheld, conditioned or delayed. 5.12 Further Assurances. Each party hereby agrees that it will take all actions and execute all documents necessary to fully carry out the purposes and intent of this Agreement. Item 9 Page 8 Interlocal Cooperation Agreement for Participation in Prosper TIRZ Number Two Town of Prosper and Collin County (ed. 5-9-13) (TM 57856) 5.13 Audits. The County may, at its costs, upon ten (10) days prior written notice to the Town, examine and audit the Town records pertaining to the collection and expenditure of County Tax Increment contributed to the Tax Increment Fund. (Signature page to follow) Item 9 Page 9 Interlocal Cooperation Agreement for Participation in Prosper TIRZ Number Two Town of Prosper and Collin County (ed. 5-9-13) (TM 57856) EXECUTED on this day of , 2013. TOWN OF PROSPER, TEXAS By: ______________________________________ Ray Smith, Mayor APPROVED AS TO FORM: TOWN ATTORNEY EXECUTED on this day of , 2013. COLLIN COUNTY, TEXAS By: ______________________________________ Honorable Keith Self, County Judge Item 9 Exhibit “A” Project Specific Categories Page 10 Interlocal Cooperation Agreement for Participation in Prosper TIRZ Number Two Town of Prosper and Collin County (ed. 5-9-13) (TM 57856) Item 9 To: Mayor and Town Council From: Matthew B. Garrett, Finance Director CC: Harlan Jefferson, Town Manager Re: Town Council Meeting – May 14, 2013 Date: May 8, 2013 Agenda Item: Presentation from IPS Advisors and discussion regarding both an update on the insurance renewal process and also the expected financial impact of the healthcare reform act on Prosper employee benefits. Description of Agenda Item: A representative from IPS Advisors will highlight the major areas of the Affordable Care Act and what each area will mean to the employee benefits offered by the Town. Several fee provisions will ultimately be passed through to the Town in insurance premiums and fees. We are just beginning the process of RFP analysis. IPS will discuss the current year’s plan performance and brief Council on the next steps of the process. Budget Impact: The presentation includes reform and renewal items, for which some costs are not yet determined. The full budget impact will be included along with a later Town Council meeting item selecting insurance plan and premium designs for the August 1, 2013 renewal. Legal Obligations and Review: N/A Attached Documents: 1. Presentation slides from IPS Advisors Board/Committee Recommendation: N/A Town Staff Recommendation: Town staff recommends that the Town Council receive the IPS presentation and discuss plan options for the coming year. Prosper is a place where everyone matters. ADMINISTRATION Item 10 Health Reform – A Look Ahead 1 Presented By: Brent Weegar & Jay Huminsky Principal Producer IPS Advisors Item 10 Health Reform – The Road Ahead •March 1, 2013 –Exchange Notice to Employees (Template Pending) DELAYED •July 31, 2013 –Comparative Effectiveness Research Fee Due ($1 Per Participant) •January 1, 2014 –State / Federal Exchanges Open (Texas Opting to Use Federal) –Play or Pay Mandates –Reinsurance Fee – Est. 1.5% of Premium Cost ($63 Per Member) 2 Item 10 Healthcare Reform – 3 Part Test •Eligibility Requirements •The Town of Prosper’s 30 hours per week for health plan eligibility meets health care reform’s requirement of 30 hours per week definition. •Additional administration to determine eligibility for the health plan is required. •Minimum / Actuarial Value of Plans •The Town of Prosper’s plan options meet the definition of Actuarial Value •Definition: The Base Plan must meet at minimum 60% Actuarial Value. •Affordability of Plans •The Town of Prosper’s base plan meets the definition of Affordable Coverage. •Definition: Employees health insurance premium for the Base Plan may not exceed 9.5% of an Employees W-2 Earnings. 3 Item 10 Part 1 – Eligibility Impact •Coverage must be expanded to employees working over 30 hours per week or 130 hours per month. •Key Terms: •Measurement Period (Look-Back Period) •Employers select a fixed 3-to-12 month measurement period for determining whether an employee has averaged at least 30 hours of service per week. •Administrative Period •Employers may need time after the Measurement Period ends to decide which employees must be offered coverage during the ensuing stability period. The Administrative Period cannot exceed 90 days. •Stability Period (Coverage Period) •After meeting the minimum-hours threshold during the measurement, employees must be treated as full-time, regardless of actual hours worked, during a subsequent “Stability Period”, provided they remain employed. 4 Item 10 Step 1 – Eligibility Impact – Full Time Employee •IPS has an automated solution for our clients to analyze current liability and assist management of future liability •Tracks employees and their hours through various measurement periods •Recommendation will be provided for length of measurement period •Fully integrated with enrollment software •The Measurement Period begins for a new hire based on their start date. This may overlap the new hires Initial measurement and stability period with the standard measurement and stability periods for ongoing employees. •Non-Calendar Year Transition relief: No liability will occur whether or not a full- time employee is offered coverage during the portion of the 2013 plan year falling in 2014 if following are met: •Health plan must have been a fiscal year plan as of December 27, 2012 and the plan meets Minimum Value and its Affordable by the 1st day of the 2014 fiscal plan year. •One of the following (as of December 27, 2012) –The fiscal year plan was offered to at least 1/3 of the employer’s employees (full - time and part-time) at the most recent open season –The fiscal year plan covered at least 25% of the employer’s employees 5 Item 10 Ongoing Tracking and Management Report – Benefit Connector Listing of Variable Hour Employees Ongoing Tracking Report Processed: 05/1/2013 Measurement Period = 1/1/2013 - 12/31/2013 SSN Last Name First Name Hours Worked % of Fulltime XXX-XX-XXXX Franklin Benjamin 380 21.92 73% XXX-XX-XXXX Carver George 410 23.65 79% XXX-XX-XXXX McClintock Barbara 480 27.69 92% XXX-XX-XXXX Curie Marie 550 31.73 106% XXX-XX-XXXX Turning Alan 525 30.29 101% XXX-XX-XXXX Bohr Niels 500 28.85 96% XXX-XX-XXXX Planck Max 460 26.54 88% XXX-XX-XXXX Darwin Charles 490 28.27 94% XXX-XX-XXXX Tesla Nikola 420 24.23 81% XXX-XX-XXXX Galilei Galileo 410 23.65 79% XXX-XX-XXXX da Vinci Leonardo 316 18.23 61% XXX-XX-XXXX Einstein Albert 460 26.54 88% XXX-XX-XXXX Hodgkin Dorothy 470 27.12 90% Average Hours per Week 6 Item 10 Step 2 – Determining Value of Plans •An employer’s actuarial value of its base plan must at a minimum fall into a “bronze” level category •Calculators released by HHS used for determining actuarial value •Actuarial Value – Small Group and Individual Market •Available today – Some revisions pending •Minimum Value – Large Group and Self Insured Market •Recently Released – Currently under IPS evaluation •Safe Harbor List will also be released to determine minimum value for Large Group and Self Insured Market •Release date TBD 7 Item 10 Metallic Level Examples •Most employer plan designs are falling within Silver and Gold categories •Based off AV Calculator available from HHS Bronze Plan Silver Plan Gold Plan Platinum Plan Deductible $5,000 $2,000 $1,000 $250 Maximum Out of Pocket $6,500 $6,000 $2,000 $750 Coinsurance 55%80%80%80% Office Visit Copay if applicable n/a n/a $35 $25 8 60% 70% 80% 90% 0% 50% 100% Bronze Silver Gold Platinum Actuarial Value Item 10 •Affordable Coverage: health insurance premium does not exceed 9.5% of household income (base plan, all tiers) •Penalty to employers only applies when an employee receives a subsidy AND employee-only coverage is deemed unaffordable as determined by his/her W-2 earnings (base plan, employee only tier) •Subsidies apply only to employees with household income falling between 100% and 400% of FPL (Texas) Step 3 – Affordability and Plan Option Analysis 9 Item 10 •Annualized loss ratios have increased from 78%.0 to 120.7% since year end 2011 – 2012. •7 Claimants have paid claims above $10,000. They account for 63.7% of all paid claims year to date. •The preliminary projected renewal increase is +33%. An RFP has been released to leverage negotiations and is due May 8th along with the renewal. Health Plan Renewal Update 10 $3,392 $3,611 $6,549 $4,318 $4,631 $5,431 $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 Claims Premium 78.6% L/R 78.0% L/R 120.7% L/R Item 10 11 QUESTIONS? Item 10 To: Mayor and Town Council From: Matthew B. Garrett, Finance Director CC: Harlan Jefferson, Town Manager Re: Town Council Meeting – May 14, 2013 Date: May 8, 2013 Agenda Item: Consider and act upon Resolution No. 13-31 providing for and directing publication of a notice of intent to issue Town of Prosper Combination Tax and Surplus Revenue Certificates of Obligation to fund the construction of water system improvements. Description of Agenda Item: This agenda item is to direct staff to publish notice of intent to issue debt not to exceed $5.5 million for water system improvements. This issuance was anticipated to complete work in progress on the pump station expansion and second water line projects. Last summer the Town Council discussed plans to issue debt to facilitate approximately $9.1 million in water projects, $1.03 million in storm water drainage projects and possibly $550,000 to reimburse the Town for a purchase a replacement fire engine. Series 2012 Certificates of Obligations (“2012 CO”) were issued generating the full $1.03 million for storm drainage projects and $4.95 million in water projects. No debt was issued for the replacement fire engine, and staff is recommending it be solely funded from the General Fund. With the 2012 CO proceeds for water, the projects began construction, but require additional funding to complete. The notice provides that “the Town Council intends to consider for passage at a meeting to be held at 6:00 P.M. on June 25, 2013…an ordinance authorizing the issuance of Combination Tax and Revenue Certificates of Obligation.” Budget Impact: If the Certificates of Obligation are approved via ordinance on June 25, the preliminary schedule calls for principal and interest payments in 2014 of approximately $400,000 from the Water/Wastewater Fund. The timing and amount will vary slightly depending on the final schedule and actual interest rate the Town receives. Legal Obligations and Review: McCall, Parkhurst & Horton L.L.P., serves as the Town’s Bond Counsel and Dan Culver has created the resolution and notice of intent with input from Town staff and Jason Hughes, the Town’s Financial Advisor. Attached Documents: 1. Resolution 13-31 2. Timetable for Series 2013 Bonds Prosper is a place where everyone matters. ADMINISTRATION Item 11 2 Board/Committee Recommendation: N/A Town Staff Recommendation: Town staff recommends that the Town Council take action to approve the resolution. Motion: I move to approve Resolution No. 13-31 providing for and directing publication of a notice of intent to issue Town of Prosper Combination Tax and Surplus Revenue Certificates of Obligation to fund the construction of water system improvements. Item 11 CERTIFICATE REGARDING ADOPTION OF RESOLUTION THE STATE OF TEXAS § COUNTY OF COLLIN § TOWN OF PROSPER § We, the undersigned officers of the Town, hereby certify as follows: 1. The Town Council of the Town convened in REGULAR MEETING ON THE 14TH DAY OF MAY, 2013, at the Town Hall, and the roll was called of the duly constituted officers and members of the Town Council, to-wit: Ray Smith, Mayor Meigs Miller, Mayor Pro-Tem Kenneth Dugger, Deputy Mayor Pro-Tem Jason Dixon Michael Korbuly Curry Vogelsang, Jr. Danny Wilson Robyn Battle, Town Secretary and all of said persons were present, except the following absentees: ____________________, thus constituting a quorum. Whereupon, among other business, the following was transacted at said Meeting: a written RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION was duly introduced for the consideration of the Town Council. It was then duly moved and seconded that said Resolution be adopted and, after due discussion, said motion, carrying with it the adoption of said Resolution, prevailed and carried by the following vote: AYES: All members of the Town Council shown present above voted "Aye," except as shown below: NOES: ABSTAIN: 2. That a true, full and correct copy of the aforesaid Resolution adopted at the Meeting described in the above and foregoing paragraph is attached to and follows this Certificate; that said Resolution has been duly recorded in said Town Council's minutes of said Meeting; that the above and foregoing paragraph is a true, full and correct excerpt from the Town Council's minutes of said Meeting pertaining to the adoption of said Resolution; that the persons named in the above and foregoing paragraph are the duly chosen, qualified and acting officers and members of the Town Council as indicated therein; that each of the officers and members of the Town Council was duly and sufficiently notified officially and personally, in advance, of the time, place and purpose of the aforesaid Meeting, and that said Resolution would be introduced and considered for adoption at said Meeting, and each of said officers and members consented, in advance, to the holding of said Meeting for such purpose, and that said Meeting was open to the public and public notice of the time, place and purpose of said meeting was given, all as required by Chapter 551, Texas Government Code. Item 11 3. That the Mayor of the Town has approved and hereby approves the aforesaid Resolution; that the Mayor and the Town Secretary of the Town have duly signed said Resolution; and that the Mayor and the Town Secretary of the Town hereby declare that their signing of this Certificate shall constitute the signing of the attached and following copy of said Resolution for all purposes. SIGNED this, the 14th day of May, 2013. ______________________________ ________________________________ Town Secretary Mayor Item 11 RESOLUTION DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION THE STATE OF TEXAS § COUNTY OF COLLIN § TOWN OF PROSPER § WHEREAS, this Town Council deems it advisable to give notice of intention to issue certificates of obligation of the Town of Prosper, Texas, as hereinafter provided; and WHEREAS, it is hereby officially found and determined that the meeting at which this Resolution was passed was open to the public and public notice of the time, place and purpose of said meeting was given, all as required by Chapter 551, Texas Government Code. THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF PROSPER: 1. Attached hereto is a form of the Notice of Intention to issue Certificates of Obligation, the form and substance of which is hereby adopted and approved. 2. The Town Secretary shall cause said notice to be published in substantially the form attached hereto, in a newspaper of general circulation in the Town, and published in the Town, on the same day in each of two consecutive weeks, the date of the first publication thereof to be at least 30 days prior to the time set for the first reading of the ordinance authorizing the issuance of such certificates of obligation as shown in said notice. 3. This Resolution shall become effective immediately upon adoption. Item 11 TOWN OF PROSPER, TEXAS NOTICE OF INTENTION TO ISSUE COMBINATION TAX AND SURPLUS REVENUE CERTIFICATES OF OBLIGATION The Town of Prosper does hereby give notice of intention to issue one or more series of Combination Tax and Revenue Certificates of Obligation, in the maximum principal amount not to exceed $5,500,000 for paying all or a portion of the Town's contractual obligations incurred in connection with extending, constructing and improving the Town's water system, including constructing improvements to pump stations and extending water lines and paying legal, fiscal, engineering and architectural fees in connection with these projects. The Town proposes to adopt an ordinance that will provide for the Certificates of Obligation to be secured by a pledge of funds received from the levy and collection of ad valorem taxes in the Town, as provided by law, and from a pledge of the surplus net revenues of the Town's water and sewer system (the "System") that remain after payment of all operation and maintenance expenses thereof, and after all debt service, reserve, and other requirements in connection with all revenue bonds or other obligations (now or hereafter outstanding) of the Town have been met, to the extent that such obligations are payable from all or any part of the net revenues of the System. The Town Council intends to consider for passage at a meeting to be held at 6:00 P.M. on June 25, 2013, at the Prosper Municipal Chambers, 108 W. Broadway, Prosper, Texas, an ordinance authorizing the issuance of Combination Tax and Surplus Revenue Certificates of Obligation. TOWN OF PROSPER, TEXAS By: /s/ Ray Smith, Mayor Item 11 Apr-13 May-13 Jun-13 Jul-13 SMTWTFS SMTWTFS SMTWTFS SMTWTFS 123456 1234 1 123456 78910111213 567891011 2345678 78910111213 14 15 16 17 18 19 20 12 13 14 15 16 17 18 9 10 11 12 13 14 15 14 15 16 17 18 19 20 21 22 23 24 25 26 27 19 20 21 22 23 24 25 16 17 18 19 20 21 22 21 22 23 24 25 26 27 28 29 30 26 27 28 29 30 31 23 24 25 26 27 28 29 28 29 30 31 30 Complete By Day Event 26-Apr-13 Friday First Southwest requests information for preparation of the Official Statement 14-May-13 Tuesday Town Council meeting to approve publication of the Notice of Intent for the Certificates 16-May-13 Thursday First Southwest receives requested information. First Southwest begins preparation of the Official Statement 21-May-13 Tuesday Draft Official Statement distributed to the Town and Bond Counsel 22-May-13 Wednesday 1st Notice of Intent published for Certificates 28-May-13 Tuesday First Southwest receives comments on Official Statement 29-May-13 Wednesday 2nd Notice of Intent published for Certificates 30-May-13 Friday Distribute POS to Rating Agency Rating Conference Call/Meeting 17-Jun-13 Monday Receive Rating 18-Jun-13 Tuesday Electronically mail Official Statement to Potential Purchasers 25-Jun-13 Tuesday Pricing 25-Jun-13 Tuesday Town Council passes Ordinance authorizing issuance of the Bonds and Certificates 25-Jul-13 Thursday Closing and Delivery of Funds to the Town Week of 6/3 - 6/7 Town of Prosper, TX General Obligation Refunding Bonds, Series 2013 4/25/2013 Acct # 0643-011 Preliminary Schedule of Events Combination Tax & Revenue Certificates of Obligation, Series 2013 Item 11 Page 1 of 3 To: Mayor and Town Council From: Frank E. Jaromin, P.E., Director of Public Works Cc: Harlan Jefferson, Town Manager Hulon T. Webb, Jr., P.E., Executive Director of Development and Community Services Re: Town Council Meeting – May 14, 2013 Date: May 8, 2013 Agenda Item: Discussion on Stage 3 Drought Contingency and Water Emergency Response Measures, proposed water conservation programs and potential enforcement program. Description of Agenda Item: On June 1, 2013, the North Texas Municipal Water District (NTMWD) will be initiating Stage 3 of the NTMWD Water Conservation and Drought Contingency and Water Emergency Response Plan, March 2008, to all member and customer cities as a result of:  The temporary loss of Lake Texoma raw water supply due to the invasive Zebra Mussels. Lake Texoma accounts for roughly 25% of NTMWD raw water supply.  NTMWD’s Lake Chapman capacity is at 35% due to continued drought and lack of rain run-off to replenish the water supply.  NTMWD’s Lake Lavon is less than 48% of the total conservation pool capacity.  The long-term weather forecast and ongoing drought. In response to NTMWD initiating Stage 3 of their plan on June 1, 2013, the Town of Prosper, a customer city, will implement the following Stage 3 Drought Contingency and Water Emergency Response Measures listed as implementation actions from the Town of Prosper Water Conservation and Drought Contingency and Water Emergency Response Plan:  Continue actions available under Stages 1 and 2.  Further accelerate public education efforts on ways to reduce water use and request customers to implement procedures.  Prohibit housing of paved areas, buildings, or windows. (Pressure washing of impervious surfaces is allowed.)  Prohibit operation of all ornamental fountains or other amenity impoundments to the extent they use treated water.  Prohibit washing or rinsing of vehicles by hose except with a hose end cutoff nozzle.  Prohibit using water in such a manner as to allow runoff or other waste. PUBLIC WORKS Prosper is a place where everyone matters. Item 12 Page 2 of 3  Require all Town of Prosper water users to comply with the following water use schedule for landscape sprinkler systems and outdoor water usage during the normal growing season: o Retail, Business, Industrial and Commercial Customers Monday o All residential - even address Tuesday (Includes duplexes, townhomes, and apartments) o Schools, Places of Worship, Parks, Thursday Designated Open Space, Medians, Rights-of-Way and other Non-Residential o All residential - odd addresses Friday (Includes duplexes, townhomes, and apartments) o No weekend sprinklers Exceptions to the once every seven days water schedule listed above:  Foundations, new landscaping, new plantings (first year) of shrubs, and trees may be watered for up to 2 hours on any day by a hand-held hose, a soaker hose, or a dedicated zone using a drip irrigation system.  Golf courses may water greens and tee boxes without restrictions.  Public athletic fields used for competition may be watered twice per week.  Locations using other sources of water supply for irrigation may irrigate without restrictions.  Registered and properly functioning ET/Smart irrigation systems and drip irrigation systems may irrigate without restrictions.  Prohibit hydro-seeding, hydro-mulching, and sprigging.  Prohibit outdoor watering from 5 a.m. to 7 p.m., daily. The Town currently experiences a residential peak water demand from 6 a.m.-8 a.m. and 5 p.m.-7p.m. Monday through Friday. The prohibited watering times 5a.m.-7p.m. was established to separate the irrigation usage from the residential peak water usage. This allows the Town to rest the pumps, motor and line equipment, and to provide for a smaller peak demand over a longer period of time. When the Custer Road Pump Station and the second water transmission line are complete in late 2013, the Town will revisit the current outdoor watering restrictions of 5 a.m.-7 p.m. In conjunction with the implementation actions listed in the staff report, the Town of Prosper will be increasing its public education by providing water conservation programs. The extent of the proposed water conservation programs are attached to the staff report. Detailed discussion will occur during the Town Council meeting, and staff appreciates feedback prior to final implementation. Town staff has also researched several surrounding municipalities enforcement procedures related to water conservation and the fee structures they have in place. All fee structures increase as the number of violations increase. Currently, the Town of Prosper does not have an enforcement program established and is requesting feedback from the Town Council on whether or not to bring forward an ordinance to establish an enforcement program. If so, staff has attached a draft enforcement program to the staff report for discussion during the May 14, Item 12 Page 3 of 3 2013, Town Council meeting. The proposed enforcement program includes the following fee structure for the Town of Prosper: o 1st Violation – $0. Property owner will receive a courtesy tag from the Public Works Department reminding them of their water schedule. o 2nd Violation – $50. Fee will be waived if they take the 40-Gallon Challenge on the Town’s website. o 3rd Violation – $150 and certified letter from the Town. Fee will be waived if they register for a class with Agri-life. o 4th Violation – $300. Attached Documents: 1. DRAFT Water Conservation Programs 2. DRAFT Enforcement Program Town Staff Recommendation: Town staff recommends the Town Council provide feedback to staff on proposed water conservation programs and potential enforcement program. Item 12 Item 12 Item 12 Item 12 Item 12