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#14 019-770-002-000 agreement
AGENDA ITEM #14 Public Utility District m MEETING DATE: October 2, 2024 TO: Board of Directors FROM: Michael Salmon, Chief Financial Officer SUBJECT: Consideration of Authorizing the General Manager to Execute the Agreement Regarding APN# 019-770-002-000. APPROVED BY: Z_ Brian C. Wright, General Manager RECOMMENDATION: A. Determine that the waiver of current Penalty and Interest for APN# 019-770-002-000 agreement complies with the requirements of Government Code section 53340(f), and B. Authorize the General Manager to execute the Agreement regarding APN# 019-770- 002-000 (Attachment 1); accepting full payment for all installment special tax amounts past due, in exchange for waiving current Penalty and Interest amounts BACKGROUND: In 2004 and 2005, the Truckee Donner Public Utility District (TDPUD) Community Facilities District (CFD) No. 04-1 (Gray's Crossing) issued special tax bonds (Bonds) totaling $15,375,000. The Bonds were issued to construct and acquire various public improvements needed with respect to the development within Gray's Crossing, to fund the Reserve Account securing the Bonds, to fund capitalized interest on the Bonds, and to pay the costs of issuance of the Bonds. The CFD is a Mello-Roos CFD and the Bond's debt is repaid by a Mello-Roos special tax assessment. The tax is only applied to parcel owners of the CFD. It is an additional line item on property tax bills each year, with installments due with property taxes (December and April). The Bonds are limited obligations of CFD payable solely from the special tax. TDPUD has no financial obligation regarding CFD's debt. As the Bonds are currently issued, the special tax runs through 2035, corresponding with the last debt payment. The vast majority of 407 parcels in the CFD have been paying their respective annual special tax amounts and are current. However, there are three undeveloped parcels with significant installment delinquency amounts, and have incurred significant penalties and interest charges due to the delinquencies. Page 1 of 5 Page 94 of 231 ANALYSIS AND BODY: Regarding the three undeveloped parcels that have significant installment delinquency amounts, and have incurred significant penalties and interest charges due to the delinquencies. The table below summarizes the current delinquency amounts. Attorney Fees Assessor Parcel Special Tax and Other Parcel Owner Number fAPN1 Installments Penalties Interest Costs Total Siddiqui 019-770-002-000 $2,581,807.70 $ 258,180,77 $ 3,155,459,73 $ 41,047,64 $ 6,036,495.84 ', Siddiqui € 043-010-005-000 1,172,267.80 117,226.78 1,486,787.27 18,637.65 $ 2,794,919.50 DKALVISO € 043-010-007-000 2,103,306.56 210,330.66 2,622,704.84 33,440.05 $ 4,969,782.11 Totals,as of 10M12024 € $ 5,857,382.06 $ 585,738.21 $ 7,264,951.84 $ 93,125.34 $ 13,801,197.45 €amounts are estrmates.not cFD legal revrened Penalties and Interest Total $ 7,850,690.05 Penaltes,Interest,and Fees Total $ 7,943,815.39 Siddiqui full owner name is Siddiqui Family Partnership, L.P DK ALVISO full owner name is DK Alivso LLC The referenced parcels have Mello-Roos tax assessment delinquencies beginning in 2009 through current. In 2020, the parcels were purchased in tax sales, with proceeds applied to current year's special tax delinquency amounts by Nevada County. The current owners assumed all past due amounts. The parcels cannot be developed without settlement of amounts due to the CFD. Siddiqui Family Partnership, L.P., the owner of parcel APN # 019-770-002-000 has a potential buyer, Soldier Creek LLC, for the 019-770-002-000 property, which could solve the delinquent tax problem. Further details on amounts owed for this parcel are as follows: Details of parcel APN# 019-770-002-00 are as follows: APN:019-770.002-000 Acres:14.76 Address: 11163 China Camp Rd Aa of MWbe12,2024(IM—V though 1013112024) AKA: 'Lot B', 'Cottages Parcel' Attorney Fees Special Tax and Other Item Installments Penalties Interest Costs Total Judgement Total 1/612021 (all prior tax years) $ 1,782,657,72 $ 178,265,77 $ 1,704,245,02 $ 32,159,59 $ 3,697,328.10 interest on Judgement(Judgement Date 1AT021 to 1013112024) 1,224,953.25 1,224,953.25 Delinquent taxyear2020i2021 149,383.38 14,938.34 89,630.03 253,951.75 Interest Jui'2021 to Oct'2024 Delinquent taxyear2021i2022 151,798.74 15,179.57 63,755.47 230,734.05 Interest Jui'2022 to Oct'2024 Delinquent taxyear2022i2023 238,877.16 23,887.72 57,330.52 320,095.40 Interest JW2023 to Oct'2024 Delinquent taxyear2023i2024 259,090.70 25,909.07 15,545.44 300,545.21 Interest Jui'2024 to Oct'2024 Post-Judgement-attorney fees and other costs incurred 8,888.05 8,888,05 Totals,as of 1 0/3112 02 4 (internal use only,estimates) $ 2,581,807.70 $ 258,180.77 $ 3,155,459.73 $ 41,047.64 $ 6,036,495.84 Penalties and Interest Total $ 3,413,640.50 Penalties,Interest,and Fees Total $ 3,454,688.14 Siddiqui Family Partnership, L.P. has presented CFD (to the District as administrator of Page 2 of 5 Page 95 of 231 CFD) an Agreement (Agreement). The Agreement, in essence, requests in exchange for payment of Installment Amounts past due in full. The CFD waives all accrued Penalties and Interests to date, including the accrued Penalties and Interest included in the Judgment. The waiver of current penalty and interest amounts due is in the best interest of the owners of the bonds, in that it will lead to the curing of a significant special tax delinquency and facilitate development of the parcel, thereby reducing the likelihood of future special tax delinquencies. The CFD's legal council, Stradling Yocca Carlson & Rauth, has reviewed the Agreement presented by Siddiqui Family Partnership, L.P and made several markup edits. The Agreement with markup edits is presented as Attachment 1. Per council review of CFD formation documents, upon making determinations set forth in Government Code section 53340, the District has the authority to waive all or a portion of penalties and interest, but not the principal special tax/installment amounts. The significant multi-year non-payment of the special tax assessments for approximately 15 years by the three parcels amounts to $5.9 million in unpaid mello- roos taxes. Due primarily to these three parcels not paying each year over the last 15 years, the CFD has had to use reserve funds to make the annual debt service payments. The reserve requirement is $3.32 million, and the current balance is $1 .9 million. The reserve balance is not sufficient to make-whole through end of bonds term in 2035, falling several years short. Further details related to the reserve account are provided as Attachment 2. The address of the parcel is 11163 China Camp Road, and is often referred to as Lot B or Cottages Parcel. The parcel is 14.76 acres per county assessor and is generally located across the street and north of Alder Creek Middle School. Below in red are the three significant delinquency parcels locations. Page 3 of 5 Page 96 of 231 _ � t Q Siddiqui-019 a {a Church Q ACMS w� Hinton Ln LOB I-043 °Oa California Government Code section 53340(f) is provided as Attachment 3. The code section specifies the following: (f)(1)Notwithstarding subdivision(e),the legislative body of the district may waive all or any specified portion of the delinquency penalties and redemption penalties if it makes all of the following determinations: (A)The waivers shall apply only to parcels delinquent at the time of the determination. (B)The waivers shall be available only with respect to parcels for which all past due and currently due special taxes and all other costs due are paid in full within a limited period of time specified in the determination. (C)The waivers shall be available only with respect to parcels sold or otherwise transferred to new owners unrelated to the owner responsible for the delinquency. (D)The waivers are in the best interest of the debtholders. Additional information on CFD 04-1 Grays Crossing is provided in Attachment 4 Annual Report for FY23-24 and Attachment 5 Continuing Disclosure Report for FY22-23. GOALS AND OBJECTIVES: Page 4of5 Page 97 of 231 District Code 1 .05.020 Objectives: 1. Responsibly serve the public. 6. Manage the District in an effective, efficient and fiscally responsible manner. District Code 1 .05.030 Goals: 1. Manage for Financial Stability and Resiliency 4. Take the best of private sector thinking to modernize the utility and add value to our communities. FISCAL IMPACT: There is no financial impact on Truckee Donner Public Utility District's Electric Utility or Water Utility, nor each utility's respective customers. For the CFD, receiving the Installment Amount of $2,581,807.70 would increase cash for the CFD, replenish the Reserve balance, and decrease accounts receivable. For the CFD, billed but not collected, penalties of $258,180.77 and interest of approximately $3,155,459.73 would not be collected. The probability of collecting said amounts with a current or future owner is considered very low. The Penalties and Interest amounts are recorded on a cash basis, so there would be no financial impact on CFD's current financial statements regarding Income and Expenses related to Penalties and Interest. Going forward, with the receipt of$2,581,807.70 and write-off of all past to current Penalties and Interest, the parcel can move forward with development/improvements to the parcel. With said development, the parcel's value increases, and the CFD retains full rights to foreclose on the parcel if the parcel becomes delinquent on special taxes. ATTACHMENTS: 1. Agreement Draft 2. CFD 04-1 Grays Crossing Significant Event 9.1.24 Reserve Draw-To Client 3. Cal Gov Code § 53340 4. FY2324 CFD 04-1 Gray's Crossing Annual Report 5. FY2223 TDPUD CFD 04-1 Continuing Disclosure - To Client Page 5 of 5 Page 98 of 231 GRAY'S CROSSING AGREEMENT This GRAY'S CROSSING PARCEL AGREEMENT("Agreement")dated for reference purposes only as of October 2024, is made by and between the Truckee Donner Public Utility District, a public utility district("District"), Siddiqui Family Partnership,LP("Owner"), and Soldier Creek ("Buyer"). District, Owner, and Buyer are collectively referred to herein as the "Parties". RECITALS A. Owner has entered into a binding purchase and sale agreement ("PSA") Buyer for that certain property located in the Town of Truckee ("Town"), County of Nevada, State of California, known as Assessor's Parcel Number 019-770-002-000 and described in Exhibit A attached hereto ("Property"). B. Such PSA would require Buyer at the close of escrow to assume all existing delinquent Mello-Roos special tax liabilities associated with Community Facilities District No. 04-1(Gray's Crossing) (the "CFD") and applicable to the Property. C. The District's Board of Directors, formed the CFD under the provisions of the Mello- Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Part 1, Division 2, Title 5, of the Government Code of the State of California. District is authorized to levy special taxes upon land within the CFD,including the Property,and has issued one or more series of bonds to provide financing for infrastructure and other public capital improvements to be owned and operated by District. D. On October 4, 2010, the District filed an action in the Nevada County Superior Court, Case No. TCU10-4288C (the "Action"), foreclosing on the special tax lien against the property, obtaining a Judgment of Foreclosure and Order of Sale on April 7, 2011. The Judgment was amended on January 12,2021,and the total amount of the Judgment is currently 3,697,328.10, which includes penalties and interest through that date. (the "Judgment Amount"). On September 13, 2024, granted the District's Motion to Amend the Judgment to include additional delinquencies, penalties, and interest in the amount of $1,078,252.74, for a pending amended judgment amount of$4,775,580.84. E. The District acknowledges that Buyer would not close escrow and acquire the Property but for the District's agreement to waive all applicable penalties and interest upon payment of the Principal Amount pursuant to the terms and conditions set forth below. NOW,THEREFORE,based on the terms and conditions herein set forth,the Parties agree as follows: AGREEMENT 2. Payment of Delinquencies and Forgiveness of Penalties and Interest. In accordance with Escrow Instructions provided to the escrow officer, at the close of the Escrow associated with Buyer's purchase of the Property, Buyer shall pay to District all amounts necessary to both (a) satisfy the judgment(s) obtained by or on behalf of the District related to the delinquent special taxes less the applicable penalties and interest associated therewith that are forgiven pursuant to the remainder of this Section 2 ("Principal Amount") and(b) any currently due special taxes, less 1 4882-8787-0950v1/022925-0020 Page 99 of 231 applicable penalties and interest. Upon such payment, District shall immediately waive all applicable penalties and interest to the maximum extent permitted by law. As of October 31, 2024, the Principal Amount totals $2,581,807.70 and applicable penalties and interest that the District agrees to waive, total $3,454,688.14. The Parties acknowledge that the Principal Amount as well as the applicable penalties and interest will increase before Buyer's payment pursuant to the terms and conditions of this Agreement. District hereby agrees that in exchange for Buyer's payment of the Principal Amount and any currently due special taxes, District shall waive all applicable penalties and interest accruing with respect to special taxes that were delinquent at the time of Buyer's acquisition of the Property until such time as the Principal Amount and any currently due special taxes are paid pursuant to the terms and conditions of this Agreement. Buyer hereby represents to District that as of the Effective Date, Buyer is not responsible for any portion of the delinquencies or applicable penalties and interest attributable thereto as described herein. 3. Satisfaction of Judgment. In consideration for the payment of the Principal Amount and the promises and covenants contained herein, within ten (10) business days of the receipt of the funds representing the total Principal Amount by the District, the District shall and record an Acknowledgment of Satisfaction of Judgment in the Nevada County Superior Court. 4. Representations and Warranties. A. Owner represents and warrants to the District that it and all affiliated and related entities, and their respective agents, officers, directors, shareholders,members,managers, employees, attorneys, insurers, subsidiaries,predecessors, successors, are unrelated and unaffiliated with Buyer. B. Buyer represents and warrants to the District that it and all affiliated and related entities, and their respective agents, officers, directors, shareholders,members,managers, employees, attorneys, insurers, subsidiaries,predecessors, successors, are unrelated and unaffiliated with Owner. 5. District Findings. By its approval of this Agreement, the Board of Directors of District hereby finds and determines that: (a) the waiver of all applicable penalties and interest described herein shall apply only to the Property and the special tax applicable to the Property that was delinquent at the time of the Buyer's acquisition of the Property; (b) such waiver shall only be available to the Property at such time as the Principal Amount and currently due special taxes and all other costs (excluding all applicable penalties and interest) are paid in full, which shall occur within the time periods described in Sections 6 below; (c) the Property will have been sold or otherwise transferred to new owners unrelated to the owner(s)responsible for the delinquencies as of the Effective Date; and (d) said waiver is in the best interest of the owners of the bonds in that it will result in the curing of a significant special tax delinquency and facilitate development of the Property thereby reducing the likelihood of future special tax delinquencies. 6. Limitations. Nothing contained in this Agreement is intended in any way to limit District's ability to continue to diligently pursue foreclosure proceedings until the delinquent special taxes applicable to the Property are paid. 7. Effective Date. This Agreement shall become effective upon the date of the last signature below. 4882-8787-0950v1/022925-0020 Page 100 of 231 8. Term. The term of this Agreement shall be six (6) months ("Term"),If the escrow associated with Buyer's purchase of the Property has not closed by the end of the Term and the District has not received payment of the Principal Amount, all Parties' obligations under the Agreement cease, other than those obligations that are specified to survive the Term. 9. Waiver. Waiver by a party of any of the covenants or agreements herein contained on the part of the other party to be kept or performed shall not be construed as constituting a waiver of the same or of any other covenant as to breach or default subsequently arising or as the waiver of a subsequent breach of any of the covenants hereunder. 10. Remedies Cumulative. The rights and remedies of each party under this Agreement are cumulative and not exclusive of any rights or remedies to which such party is entitled by law. The exercise by a party of any right or remedy under this Agreement or under applicable law will not preclude such party from exercising any other right or remedy under this Agreement or to which the Parties are entitled by law. 11. Binding on Heirs and Successors. This Agreement shall be binding on and shall inure to the benefit of the heirs, executors, administrators, successors and assigns of the Parties hereto. 12. Costs of Dispute. In the event of a dispute arising from or relating to the terms of this Agreement or the breach hereof,the party prevailing in such dispute shall be entitled to recover all expenses, including, without limitation, reasonable attorneys' fees and expenses, incurred in ascertaining such party's rights, in preparing to enforce, and in enforcing such party's rights under this Agreement, whether or not it was necessary for such party to institute adjudicatory proceedings. Expenses shall include but not be limited to, court costs as well as consultants' and experts' fees and costs. 13. Notices.Except as otherwise expressly provided by law,any and all notices or other communication required or permitted by this Agreement or by law to be served on or given to either party hereto by the other party hereto shall be in writing and shall be deemed duly served and given when personally delivered to the party to whom it is directed, sent by facsimile transmission, sent via electronic message to the party's email address(es) set forth below, or when deposited in the United States mail, first-class postage prepaid, addressed as follows. If not sent via electronic message originally, any notice or other communication must also be sent via electronic message to the party's email address(es) set forth below. District: Truckee Donner Public Utility District 11570 Donner Pass Rd., Truckee, CA 96161 Attn: Michael R. Salmon, Chief Financial Officer Email: michaelsalmon@tdpud.org Owner: Siddiqui Family Partnership, L.P. 1808 J Street, Sacramento, CA 95811 Attn: Javed T. Siddiqui, General Partner Email: Javed.Siddiqui@JTSEngineering.com 4882-8787-0950v1/022925-0020 Page 101 of 231 Buyer: Soldier Creek LLC 951 Washington Blvd., Roseville, CA 95678 Attn: Dan Sauvageau Email: dan@danieldesignbuild.com Either party may change their address for the purpose of this paragraph by giving written notice of such change to the other parry in the manner provided in this paragraph. 14. Time. Time is of the essence of this Agreement and each and all of its provisions in which performance is a factor. 15. No Joint Venture or Partnership. Nothing contained in this Agreement is intended or should be construed to create a partnership or joint venture relationship between the Parties. 16. Entire Agreement. This instrument contains the entire agreement of the Parties relating to the rights granted and obligations assumed in this Agreement. Any oral representations or modifications concerning this instrument not contained herein shall be of no force or effect unless contained in a subsequent written modification signed by the party to be charged. 17. Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which,together, shall constitute but one and the same instrument. An electronic, digital, or facsimile signature shall be deemed an original signature. 18. Further Assurances. Each parry agrees that it will execute and acknowledge such documents reasonably requested by the other to carry out the terms, purposes, and intent of this Agreement. 19. Governing Law. This Agreement shall be construed and interpreted in accordance with the laws of the State of California. 20. Interpretation. Notwithstanding the fact that one or more provisions of this Agreement may have been drafted by one of the Parties to this Agreement, such provisions shall be interpreted as though they were the product of a joint drafting effort and no provision shall be interpreted against a party on the ground that said party was solely or primarily responsible for drafting the language to be interpreted. 21. Exhibits and Recitals. The exhibits attached to this Agreement and the Recitals are made a part of this Agreement by this reference. The Parties hereto have executed this Agreement on the dates written opposite the signatures of the Parties below. District TRUCKEE DONNER PUBLIC UTILITY DISTRICT, a 4882-8787-0950v1/022925-0020 Page 102 of 231 Dated: , 2024 By: Its: [Signature Pages to Follow] Owner Dated: , 2024 By: Its: Buyer Dated: , 2024 By: Its: 4882-8787-0950v1/022925-0020 Page 103 of 231 Exhibit A Legal Description of Property Real property in the Town of Truckee,County of Nevada, State of California,described as follows: Lot "B" as shown on the Map of"Gray's Crossing - Phase 1" filed in the Office of the Nevada County Recorder on November 9, 2004 in Book 8 of Subdivisions, Page 125. APN: 019-770-002-000 4882-8787-0950v1/022925-0020 Page 104 of 231 TRUCKEE DONNER PUBLIC UTILITY DISTRICT Community Facilities District No. 04-1 (Gray's Crossing) Special Tax Bonds Series 2004 $1573757000 Dated: September 14, 2004 Series 2005 $1971557000 Dated: July 13, 2005 Nevada County, California Base CUSIP+: 897817 NOTICE OF SIGNIFICANT EVENT SEPTEMBER 1, 2024 W I LLDAN +Copyright,American Bankers Association. CUSIP data is provided by CUSIP Global Services(formerly known as CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc.), which is managed on behalf of the American Bankers Association by S&P Global Market Intelligence. This data is not intended to create a database and does not serve in any way as a substitute for the CUSIP service. The issuer takes no responsibility for the accuracy of such number. Page 105 of 231 1►Y W I LMAN LIST OF PARTICIPANTS TRUCKEE . . www.tdpud.org Michael Salmon DISTRICT Chief Financial Officer and Treasurer 11570 Donner Pass Road Truckee, California 96160 (530) 582-3959 ADMINISTRATION DISCLOSURE • DISSEMINATION Willdan Financial Services* UNDERWRITER Temecula, California 92590 (951) 587-3500 www.Willdan.com UBS Financial Services Inc. BOND COUNSEL Stradling Yocca Carlson & Rauth The Bank of New York Mellon Corporate Trust Los Angeles, California In its role as Disclosure Consultant and Dissemination Agent,Willdan Financial Services has not passed upon the accuracy, completeness or fairness of the statements contained herein. Page 106 of 231 W WI LLDAN L INTRODUCTION Pursuant to Official Statements dated August 31, 2004 and June 21, 2005, respectively, the Truckee Donner Public Utility District ("TDPUD") Community Facilities District No. 04-1 (Gray's Crossing) issued $15,375,000 Special Tax Bonds, Series 2004 ("Series 04 Bonds") and $19,155,000, Special Tax Bonds, Series 2005 ("Series 05 Bonds"), (collectively, the "Bonds"). The Bonds were issued to construct and acquire various public improvements needed with respect to the proposed development within TDPUD, Community Facilities District No. 04-1 ("District"), to fund the Reserve Account securing the Bonds, to fund capitalized interest on the Bonds and to pay costs of issuance of the Bonds. The Series 05 Bonds were issued on parity with the Series 04 Bonds. The District is located in Nevada County in the town of Truckee, California. Truckee lies just north of the Lake Tahoe Basin; however, due to its location, proximity and recreational orientation, it is identified as a Lake Tahoe community. Truckee is located on Interstate 80 near the California - Nevada State line. The District consists of approximately 757.2 gross acres and is located north of Interstate 80 in the eastern portion of the Town of Truckee, on both the east and the west sides of Highway 89. The District is developing into a mountain resort community that was originally planned at the time of formation to include 408 single-family lots, 89 freestanding cottages, 115 attached townhomes, 21 residential lofts, 40,700 square feet of commercial and community space, as well as on-site amenities. The development in the District is known as "Gray's Crossing." On August 20, 2019, the Town of Truckee Planning Commission approved a Tentative Map to re-subdivide the existing Final Map No. 02-007, called the Village at Gray's Crossing Phase I Subdivision Map, into seven commercial lots, three common space/open space lots, one right-of-way lot, 24 townhome lots, 21 condominiumized lofts, one fourplex lot with four condominiumized units, and associated easements and public improvements including realignment of the Class I trail, bus shelter on Edwin Way, and an offsite bus turnout on the south side of Henness Road. The Bonds are limited obligations of the District payable solely from Net Taxes pledged and from certain other amounts held in the Special Tax Fund pursuant to the Indenture. The faith and the credit of neither the District, TDPUD, the State of California nor any political subdivision thereof is pledged to the payment of the principal of, premium, if any, or interest of the bonds. The issuance of the Bonds shall not directly, indirectly or contingently obligate the District, TDPUD, the State of California or any political subdivision thereof to levy or pledge any form of taxation whatsoever other than the Special Taxes, or to make any appropriation for their payment other than from Net Taxes and from certain other amounts held in the Special Tax Fund. Securities and Exchange Commission ("SEC") Rule 15c-2-12 (the "Rule") requires that for tax-exempt financings after July 3, 1995, borrowing agencies are required to make certain annual and periodic reports, and disclose certain listed events if material. This Notice of Significant Event is being provided for the benefit of the holders of the Bonds. CFD 04-1 Gray's Crossing 1 Page 107 of 231 1VW1 LLDAN /Z NOTICE OF SIGNIFICANT EVENT- UNSCHEDULED DRAW ON DEBT SERVICE RESERVES On September 1, 2024, a draw on the Reserve Fund for $243,925.93 was performed in order to pay the September 1, 2024 Debt Service Payment on the Bonds. The District had insufficient funds to make the full debt service payment of $1,967,007.50 on Series 2004 and Series 2005 Bonds. The remaining amount in the Reserve Fund as of September 2, 2024 will be approximately $1,872,822.83. The unscheduled draw is due to a consistently high delinquency rate in the District. The overall delinquency rate is approximately 15.46%. TDPUD is working with a Foreclosure Attorney to cure the delinquencies. Presently, nine (9) parcels are in a position to be forwarded to the Foreclosure Attorney once the Resolution has been passed by the board at a meeting scheduled on September 4, 2024. This Notice of Significant Event may contain information material to Bond owners and does not purport to contain all material information with respect to the Bonds or the financial condition of TDPUD or the District. The information set forth herein has been furnished by TDPUD and by sources, which are believed to be accurate and reliable but is not guaranteed as to accuracy or completeness. Statements contained in this Notice of Significant Event which involve estimates, forecasts, or other matters of opinion, whether or not expressly so described herein, are intended solely as such and are not to be construed as representations of fact. Further, the information and expressions of opinion contained herein are subject to change without notice and the delivery of this Notice of Significant Event Statement will not, under any circumstances, create any implication that there has been no change in the affairs of TDPUD or any other parties described herein. CFD 04-1 Gray's Crossing 2 Page 108 of 231 Cal Gov Code q 53340 Deering's California Codes are current through the 2024 Regular Session Ch 210 Deering's California Codes Annotated > GOVERNMENT CODE(§§ 1— 500000-500049) > Title 5 Local Agencies (Dies. 1 — 5) > Division 2 Cities, Counties, and Other Agencies (Pts. 1 — 3) > Part 1 Powers and Duties Common to Cities, Counties, and Other Agencies (Chs. 1— 14) > Chapter 2.5 The Mello-Roos Community Facilities Act of 1982 (Arts. 1— 6) > Article 4 Procedures for Levying (§§ 53340— 53344.4) § 53340. Levy of special tax (a) After a community facilities district has been created and authorized to levy specified special taxes pursuant to Article 2 (commencing with Section 53318), Article 3 (commencing with Section 53330), or Article 3.5 (commencing with Section 53339), the legislative body may, by ordinance, levy the special taxes at the rate and apportion them in the manner specified in the resolution adopted pursuant to Article 2 (commencing with Section 53318),Article 3 (commencing with Section 53330), or Article 3.5 (commencing with Section 53339). After creation of a community facilities district that includes territory proposed for annexation in the future by unanimous approval as described in subdivision (b)of Section 53339.3, the legislative body may, by ordinance, provide for the levy of special taxes on parcels that will be annexed to the community facilities district at the rate or rates to be approved unanimously by the owner or owners of each parcel or parcels to be annexed to the community facilities district and for apportionment and collection of the special taxes in the manner specified in the resolution of formation. (b) The legislative body may provide, by resolution, for the levy of the special tax in the current tax year or future tax years at the same rate or at a lower rate than the rate provided by the ordinance, if the resolution is adopted and a certified list of all parcels subject to the special tax levy including the amount of the tax to be levied on each parcel for the applicable tax year, is filed by the clerk or other official designated by the legislative body with the county auditor on or before the 10th day of August of that tax year. The clerk or other official designated by the legislative body may file the certified list after the 10th of August but not later than the 21st of August if the clerk or other official obtains prior written consent of the county auditor. (c) Properties or entities of the state, federal, or local governments shall, except for properties that a local agency is a landowner of within the meaning of subdivision (f)of Section 53317, or except as otherwise provided in Section 53317.3, be exempt from the special tax. In a community facilities district, or in an improvement area therein, in which the levy of a special tax is authorized by an ordinance adopted on or after January 1, 2020, a property receiving a welfare exemption under subdivision (g)of Section 214 of the Revenue and Taxation Code shall be exempt from the special tax unless debt is outstanding and the property was subject to the special tax prior to receiving the exemption, in which case the property shall remain subject to the special tax and the special tax shall be enforceable against the property. However, whether or not the resolution of formation that authorized creation of the district specified conditions under which the obligation to pay a special tax may be prepaid and permanently satisfied, the legislative body of the local agency that created the district may, by resolution, specify additional or different conditions under which the property receiving the welfare exemption may prepay and satisfy the obligation to pay the special tax. The conditions may be specified only if the legislative body of the local agency that created the district finds and determines that the prepayment arrangement will not, in and of itself, adversely affect the ability of the district to make scheduled payments on debt as such payments become due. No other properties or entities are exempt from the special tax unless the properties or entities are expressly exempted in the resolution of formation to establish a district adopted pursuant to Section 53325.1 or in a resolution of consideration to levy a new special tax or special taxes or to alter the rate or method of apportionment of an existing special tax as provided in Section 53334. Page 109 of 231 Cal Gov Code § 53340 (d) The proceeds of any special tax may only be used to pay, in whole or part, the cost of providing public facilities, services, and incidental expenses pursuant to this chapter. (e) The special tax shall be collected in the same manner as ordinary ad valorem property taxes are collected and shall be subject to the same penalties and the same procedure, sale, and lien priority in case of delinquency as is provided for ad valorem taxes, unless another procedure has been authorized in the resolution of formation establishing the district and adopted by the legislative body. (f) (1) Notwithstanding subdivision (e), the legislative body of the district may waive all or any specified portion of the delinquency penalties and redemption penalties if it makes all of the following determinations: (A) The waivers shall apply only to parcels delinquent at the time of the determination. (B) The waivers shall be available only with respect to parcels for which all past due and currently due special taxes and all other costs due are paid in full within a limited period of time specified in the determination. (C) The waivers shall be available only with respect to parcels sold or otherwise transferred to new owners unrelated to the owner responsible for the delinquency. (D) The waivers are in the best interest of the debtholders. (2) The charges with penalties to be waived shall be removed from the tax roll pursuant to Section 53356.2 and local administrative procedures, and any distributions made to the district prior to collection pursuant to Chapter 3 (commencing with Section 4701) of Part 8 of Division 1 of the Revenue and Taxation Code shall be repaid by the district prior to granting the waiver. (g) The tax collector may collect the special tax at intervals as specified in the resolution of formation, including intervals different from the intervals determining when the ordinary ad valorem property taxes are collected. The tax collector may deduct the reasonable administrative costs incurred in collecting the special tax. (h) All special taxes levied by a community facilities district shall be secured by the lien imposed pursuant to Section 3115.5 of the Streets and Highways Code. This lien shall be a continuing lien and shall secure each levy of special taxes. The lien of the special tax shall continue in force and effect until the special tax obligation is prepaid, permanently satisfied, and canceled in accordance with Section 53344 or until the special tax ceases to be levied by the legislative body in the manner provided in Section 53330.5. If any portion of a parcel is encumbered by a lien pursuant to this chapter, the entirety of the parcel shall be encumbered by that lien. History Added Stats 1982 ch 1451 § 1. Amended Stats 1984 ch 269 §26, effective July 3, 1984; Stats 1986 ch 1102 § 33, effective September 24, 1986; Stats 1987 ch 1440 5 8.5; Stats 1988 ch 1365 S 13; Stats 1989 ch 128 S 1, effective July 11, 1989; Stats 1991 ch 1110,�20(SB 682); Stats 1997 ch 946�2 (AB 1224); Stats 2007 ch 6706 91 (AB 373), effective January 1, 2008; Stats 2013 ch 219§ 6 (SB 692), effective January 1, 2014; Stats 2019 ch 665§ 1 AB( 1743), effective January 1, 2020; Stats 2020 ch 371 § 17(SB 1473), effective January 1, 2021. Deering's California Codes Annotated Copyright©2024 All rights reserved. End of Document Page 110 of 231 Truckee Donner PUD Community Facilities District No. 04-1 (Gray's Crossing) Fiscal Year 2023/24 Annual District Administration Report 27368 Via Industria Suite 200 Temecula,CA 92590 T 951.587.3500 1 800.755.6864 F 951.587.3510 1 888.326.6864 Property Tax Information Line T.866.807.6864 AO/W I L LDAN www.wilidan.com Page of *P/W I L L D' ANNUAL DISTRICT ADMINISTRATION O . FISCAL YEAR 2023/24 TRUCKEE DONNER PUD COMMUNITY - No. (GRAYvS - • fl 7 L �a repared . repared by TRUCKEE DONNER PUD WILLDAN FINANCIAL SERVICES 11570 Donner Pass Road 27368 Via Industria, Suite 200 Truckee, CA 96161 Temecula, CA 92590 T. (951) 587-3500 (800) 755-6864 F. (951) 587-3510 (888) 326-6864 Property Tax Information Line T. 866.807.6864 Page W I LLDAN TABLE OF CONTENTS This report provides a summary of the financial and administrative information for Community Facilities District No. 04-1 (Gray's Crossing) ("District") of the Truckee Donner PUD ("Public Utility District") and is organized in the following sections: INTRODUCTION A. FORMATION B. BOUNDARIES AND DEVELOPMENT SUMMARY C. BONDS D. FINANCED FACILITIES 1. LEVY SUMMARY OVERVIEW A. FISCAL YEAR 2023/24 LEVY AMOUNTS B. FISCAL YEAR 2023/24 HANDBILL AMOUNTS /I. FINANCIAL OBLIGATIONS A. FISCAL YEAR 2023/24 LEVY COMPONENTS B. PREPAYMENTS C. HISTORICAL BOND CALL SUMMARY III. DELINQUENCYAND FORECLOSURE STATUS A. DELINQUENCY SUMMARY B. FORECLOSURE COVENANT C. DELINQUENCY MANAGEMENT ACTIONS IV. SPECIAL TAX LEVY AND METHOD OF APPORTIONMENT A. RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX B. SPECIAL TAX SPREAD C. MAXIMUM ASSIGNED AND APPLIED SPECIAL TAX RATES D. APPLIED SPECIAL TAX PROGRESSION EXHIBITS EXHIBIT A: FISCAL YEAR 2023/24 CHARGE DETAIL REPORT EXHIBIT B: BOUNDARY DIAGRAM EXHIBIT C: DELINQUENCY SUMMARY EXHIBIT D: DEBT SERVICE SCHEDULE(S) EXHIBIT E: RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX Page 113 of 231 1IY W I LLDAN INTRODUCTION The information provided in this report is derived primarily from documents developed at the time the District was formed and from data provided by the Public Utility District or accessed through the Public Utility District. The information sources include the Rate and Method of apportionment, annual budget, debt service schedule(s) and special tax/assessment delinquency data. The development status, prepayments and historical information were accessed through the Public Utility District and/or the developer and are maintained by Willdan Financial Services. The Mello-Roos Community Facilities Act ("Act") of 1982 came about as a response to the lack of adequate financing for public capital facilities and services in the post-Proposition 13 era. State Legislators Mello and Roos sponsored this Bill, which was enacted into law by the California Legislature and is now Sections 53311 through 53368 of the California Government Code. The Act authorizes a local governmental agency, such as a school district or city, to form a Community Facilities District ("CFD") or ("District") within a defined set of boundaries for the purposes of providing public facilities and services. A CFD is formed for financing purposes only, and is governed by the agency that formed it. A. FORMATION On July 21, 2004, the Board of Directors formed the District by the adoption of Resolution No. 2004-30. The qualified electors within the District authorized the bonded indebtedness in the aggregate principal amount not to exceed $35,000,000 and approved the levy of the special tax in accordance with the rate and method of special tax. B. BOUNDARIES AND DEVELOPMENT SUMMARY The District consists of approximately 757.2 gross acres and is located north of Interstate 80 in the eastern portion of the Town of Truckee, California, on both the east and west sites of State Highway 89. The District has an irregular shape with mostly level topography with same gently sloping and undulating areas. The District was expected at the time of formation to be developed into a mountain resort community consisting of 408 single family lots, 89 single family freestanding cottages, 115 attached townhomes, 21 residential lofts, approximately 40,700 square feet of commercial space and various community space. On August 20, 2019, the Town of Truckee Planning Commission approved a Tentative Map to re-subdivide the existing Final Map No. 02-007, called the Village at Gray's Crossing Phase I Subdivision Map, into seven commercial lots, three common space/open space lots, one right-of-way lot, 24 townhome lots, 21 condominiumized lofts, one fourplex lot with four condominiumized units, and Truckee Donner PUD Page 11 Community Facilities District No. 04-1 (Gray's Crossing) November 2023 Page 114 of 231 1IY W I LLDAN associated easements and public improvements including realignment of the Class I trail, bus shelter on Edwin Way, and an offsite bus turnout on the south side of Henness Road. C. BONDS Pursuant to Official Statements dated August 31, 2004 and June 21, 2005, respectively, the District issued $15,375,000 Special Tax Bonds, Series 2004 ("Series 04 Bonds") and $19,155,000, Special Tax Bonds, Series 2005 ("Series 05 Bonds"), (collectively, the "Bonds"). The Bonds were issued to construct and acquire various public improvements needed with respect to the proposed development within the District to fund the Reserve Account securing the Bonds, to fund capitalized interest on the Bonds and to pay costs of issuance of the Bonds. The Bonds were issued on parity. D. FINANCED FACILITIES The Facilities authorized to be acquired by the District with the proceeds of the Bonds consist of various public improvements including water facilities, electrical facilities, sewer, roads, storm drains, natural gas facilities, power line relocation, highway improvements and fiber infrastructure. L LEVY SUMMARY OVERVIEW A. FISCAL YEAR 2023/24 LEVY AMOUNTS The following table summarizes the amounts levied (including hand billed/direct billed charges) for Fiscal Year 2022/23 for the District. ChargeParcel Count Amount 425 $3,032,769.68 B. FISCAL YEAR 2023/24 HANDBILL AMOUNTS The following table summarizes the amounts billed directly to the property owner rather than placed on the Secured Property Tax Roll, due to the tax-exempt status in Fiscal Year 2023/24 for the District. Parcel Count Charge Amount 0 $0.00 Truckee Donner PUD Page 12 Community Facilities District No. 04-1 (Gray's Crossing) November 2023 Page 115 of 231 1IY W I LLDAN IL FINANCIAL OBLIGATIONS A. FISCAL YEAR 2023/24 LEVY COMPONENTS The following table summarizes the financial obligations of the District. 2004 Principal $560,000.00 2004 Interest 663,680.00 2005 Principal 710,000.00 2005 Interest 730,335.00 Administrative Costs 99,190.85 Adjustments Applied to the Levy- Addition/(Credit) 269,566.37 Total • - Amount Levied $3,032,772.22 (1)Slight variance to actual"Charge Amount'in Section(1)(A)above due to rounding. FOR DETAILED INFORMATION REGARDING BOND(S) ISSUED FOR THIS DISTRICT, PLEASE REFER TO EXHIBIT D (DEBT SERVICE SCHEDULE) OF THIS REPORT. B. PREPAYMENTS During Fiscal Year 2022/23, there was one (1) parcel that prepaid their special tax/assessment obligation. APN Prepayment Total 019-890-001-000 $44,607.59 -Prepayment Total $44,607.59 (1) Total prepayment amount including but not limited to, reserve credit, redemption amount and premium, investment earnings and administrative fees. Truckee Donner PUD Page 13 Community Facilities District No. 04-1 (Gray's Crossing) November 2023 Page 116 of 231 W I LLDAN C. HISTORICAL BOND CALL SUMMARY The following table summarizes historical bond calls performed to date. Date of Call Bondissue Amount Source of Funds March 1, 2016 Series 2004 $20,000.00 Prepayments March 1 , 2016 Series 2005 25,000.00 Prepayments March 1 , 2018 Series 2004 45,000.00 Prepayments March 1 , 2018 Series 2005 55,000.00 Prepayments March 1 , 2019 Series 2004 30,000.00 Prepayments March 1 , 2019 Series 2005 40,000.00 Prepayments September 1, 2019 Series 2004 25,000.00 Prepayments September 1, 2019 Series 2005 35,000.00 Prepayments September 1, 2023 Series 2004 20,000.00 Prepayments September 1, 2023 Series 2005 25,000.00 Pre a ments Total Bond Call to Date $320,000.00 Ill. DELINQUENCYAND FORECLOSURE STATUS A. DELINQUENCY SUMMARY The following table summarizes delinquencies for the most recent fiscal year and the cumulative for all years with delinquencies as of September 25, 2023. Summary for Cumulative Summary for Most Recent Fiscal Year All Years with Delinquencies $562,167.45 F 19.16% $5,380,700.86 15.14% FOR A MORE COMPREHENSIVE SUMMARY, PLEASE SEE EXHIBIT C OF THIS REPORT. B. FORECLOSURE COVENANT The District covenants for the benefit of the Owners of the Bonds that it (i) will commence judicial foreclosure proceedings against all parcels owned by a property owner where the aggregate delinquent Special Taxes on such parcels is greater than $7,500 by the October 1 following the close of each Fiscal Year in which such Special Taxes were due and (ii) will commence judicial foreclosure proceedings against all parcels with delinquent Special Taxes by the October 1 following the close of each Fiscal Year in which it receives Special Taxes in an amount which is less than 95% of the total Special Tax levied for such Fiscal Year, and (iii) will diligently pursue such foreclosure proceedings until the delinquent Special Taxes are paid; provided that, notwithstanding the foregoing, the District Truckee Donner PUD Page 14 Community Facilities District No. 04-1 (Gray's Crossing) November 2023 Page 117 of 231 1IY W I LLDAN may elect to defer foreclosure proceedings on any parcel which is owned by a delinquent property owner whose property is not, in the aggregate, delinquent in the payment of Special Taxes for a period of three years or more or in an amount in excess of $12,000 so long as (1) the amount in the Reserve Account of the Special Tax Fund is at least equal to the Reserve Requirement, and (2) the District is not in default in the payment of the principal of or interest on the Bonds. The District may, but shall not be obligated to, advance funds from any source of legally available funds in order to maintain the Reserve Account of the Special Tax Fund at the Reserve Requirement or to avoid a default in payment on the Bonds. C. DELINQUENCY MANAGEMENT ACTIONS Willdan Financial Services has taken the initial steps toward foreclosure proceedings or reducing delinquencies by performing the following Delinquency Management Actions since July 1, 2022. Date Performed Number of Parcels Reminder Letter February 28, 2023 12 Reminder Letter June 7, 2023 17 Demand Letter June 7, 2023 14 SB1471 August 30, 2023 9 Strip Confirmation September 5, 2023 9 Request Removal from County Tax Roll September 5, 2023 9 IV. SPECIAL TAX LEVYAND METHOD OF APPORTIONMENT OF SPECIAL TAX The methodology employed to calculate and apportion the special tax is in accordance with the document entitled Rate and Method of Apportionment of Special Tax ("RMA"). The RMA is hereby referenced and summarized but not included in this report, however the official document can be requested and provided by the Public Utility District's special tax administrator Willdan Financial Services. A. RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX Pursuant to Section E of the RMA, commencing with Fiscal Year 2004/05 and for each following fiscal year, the Council shall determine the Special Tax Requirement and shall levy the Special Tax until the total Special Tax levy equals the Special Tax Requirement. (FOR DETAILED INFORMATION OF THE SPECIAL TAX REQUIREMENT, PLEASE REFER TO SECTION(ll) FINANCIAL OBLIGATIONS ABOVE). Truckee Donner PUD Page 15 Community Facilities District No. 04-1 (Gray's Crossing) November 2023 Page 118 of 231 1IY W I LLDAN The Special Tax shall be levied on each Assessor's Parcel of Developed, Single Family Detached Property or a Loft Unit up to 100% of the applicable Maximum Special Tax. If additional monies are needed to satisfy the Special Tax Requirement, the Special Tax shall be levied Proportionately on each Parcel of Developed Property within the CFD that is Non-Residential Property up to 100% of the Maximum Special Tax. If additional monies are needed to satisfy the Special Tax Requirement, the Special Tax shall be levied Proportionately on each Parcel of Developed Property within the CFD that is Golf Course Property up to 100% of the Maximum Special Tax. If additional monies are needed to satisfy the Special Tax Requirement after the first step has been completed, the Special Tax shall be levied Proportionately on each Assessor's Parcel of Undeveloped Property at up to 100% of the Maximum Special Tax for Undeveloped Property. Developed Property means for each fiscal year, the following: • for Single Family Detached Property, all parcels for which a Final Map was recorded to May 1 of the preceding Fiscal Year • for Single Family Attached Property, all parcels for which a building permit for new construction of a residential structure was issued prior to May 1 of the preceding Fiscal Year • for Golf Course Property, all Parcels that make up the Golf Course Property if the certificate of occupancy for the proshop or clubhouse associated with the golf course was issued at least twenty-four (24) months in advance of May 1 of the preceding Fiscal Year • For Non-Residential Property, all parcels for which a building permit for new construction of a non-residential structure (which may include Loft Units) was issued prior to May 1 of the preceding Fiscal Year Truckee Donner PUD Page 16 Community Facilities District No. 04-1 (Gray's Crossing) November 2023 Page 119 of 231 'O/VVILLDAN B. SPECIAL TAX SPREAD The following table summarizes the number of parcels in each land use classification according to its square footage as well as the Applied Special Tax Rate for each classification. Land Use Classification of Applied Special Dollars Parcels Tax Rate per Levied Unit Tax Zone 1 Less than 8,000 SF 0 $0.00 $0.00 8,000-12,000 SF 0 $0.00 0.00 12,001-14,000 SF 5 $4,079.06 20,395.30 14,001-16,000 SF 40 $4,224.74 168,989.60 16,001-18,000 SF 29 $4,370.42 126,742.18 18,001-20,000 SF 14 $4,516.10 63,225.40 20,001-22,000 SF 3 $4,661.78 13,985.34 Greater than 22,000 3 $4,807.46 14,422.38 Golf Course Property 3 $2,130.15 145,681.08 Special - 1 (1) 1 $8,595.18 8,595.18 Special - 2 (2) 1 $9,177.90 9,177.90 Zone 1 Total 99 $571,214.36 Tax Zone 2 Single Family Attached 16 $2,622.26 $41,956.16 Less than 8,000 SF 0 $0.00 0.00 8,000-12,000 SF 1 $4,916.74 4,916.72 12,001-14,000 SF 5 $5,098.84 25,494.10 14,001-16,000 SF 88 $5,280.94 464,722.72 16,001-18,000 SF 73 $5,463.04 398,801.92 18,001-20,000 SF 38 $5,645.14 214,515.32 20,001-22,000 SF 26 $5,827.24 151,508.24 Greater than 22,000 40 $6,009.35 240,373.60 Golf Course Property 3 $706.88 145,681.08 Zone 2 Total 290 $1,687,969.86 Undeveloped Undeveloped 36 $17,553.56 773,585.46 Total 425 3,032,769.68 (1)The Special-1 Land Use Classification consists of 2 combined lots.One lot is in the 14,001-16,000 SF category and one lot is in the 16,001-18,000 SF category. (2)The Special—2 Land Use Classification consists of 2 combined lots.One lot is in the 18,001-20,000 SF category and one lot is in the 20,001-22,000 SF category. Truckee Donner PUD Page 17 Community Facilities District No. 04-1 (Gray's Crossing) November 2023 Page 120 of 231 11Y 1N I LLDAN C. MAXIMUM ASSIGNED AND APPLIED SPECIAL TAX RATES The following table summarizes the percent of the Applied Special Tax to the Maximum Assigned Special Tax rate. AssignedMaximum Land Use Classification . . Special Maximum Special Tax Rate Tax Rate Tax Zone 1 Less than 8,000 SF $2,622.26 $0.00 0.00% 8,000-12,000 SF $3,933.39 $0.00 0.00% 12,001-14,000 SF $4,079.07 $4,079.06 100.00% 14,001-16,000 SF $4,224.75 $4,224.74 100.00% 16,001-18,000 SF $4,370.43 $4,370.42 100.00% 18,001-20,000 SF $4,516.11 $4,516.10 100.00% 20,001-22,000 SF $4,661 .80 $4,661 .78 100.00% Greater than 22,000 $4,807.48 $4,807.46 100.00% Golf Course Property $2,130.15 $2,130.15 100.00% Special - 1 (2) $8,595.19 $8,595.18 100.00% Special - 2 (3) $9,177.91 $9,177.90 100.00% Tax Zone 2 Single Family Attached $2,622.26 $2,622.26 100.00% Less than 8,000 SF $2,622.26 $0.00 100.00% 8,000-12,000 SF $4,916.74 $4,916.74 100.00% 12,001-14,000 SF $5,098.84 $5,098.84 100.00% 14,001-16,000 SF $5,280.94 $5,280.94 100.00% 16,001-18,000 SF $5,463.04 $5,463.04 100.00% 18,001-20,000 SF $5,645.14 $5,645.14 100.00% 20,001-22,000 SF $5,827.24 $5,827.24 100.00% Greater than 22,000 $6,009.35 $6,009.35 100.00% Golf Course Property $706.88 $706.88 100.00% Undeveloped Undeveloped $25,494.20 $17,553.56 68.85% (1) Based on the Rate and Method of Apportionment, the maximum assigned special tax rates have been escalated by two percent(2.00%)over the prior fiscal year. (2)The Special- 1 Land Use Classification consists of 2 combined lots. One lot is in the 14,001-16,000 SF category and one lot is in the 16,001-18,000 SF category. (3)The Special—2 Land Use Classification consists of 2 combined lots. One lot is in the 18,001-20,000 SF category and one lot is in the 20,001-22,000 SF category. Truckee Donner PUD Page 18 Community Facilities District No. 04-1 (Gray's Crossing) November 2023 Page 121 of 231 W I LLDAN D. APPLIED SPECIAL TAX PROGRESSION The following table summarizes the percent change of Fiscal Year 2023/24 Applied Special Tax Rate as compared to Fiscal Year 2022/23 Applied Special Tax Rate. AppliedLand Use Applied Change from SpecialClassification Special i Tax Rate Tax Rate Tax Zone 1 Less than 8,000 SF $0.00 $0.00 N/A 8,000-12,000 SF $0.00 $0.00 N/A 12,001-14,000 SF $4,079.06 $3,999.08 2.00% 14,001-16,000 SF $4,224.74 $4,141.90 2.00% 16,001-18,000 SF $4,370.42 $4,284.72 2.00% 18,001-20,000 SF $4,516.10 $4,427.56 2.00% 20,001-22,000 SF $4,661.78 $4,570.38 2.00% Greater than 22,000 $4,807.46 $4,713.20 2.00% Golf Course Property $2,130.15 $2,088.38 2.00% Special - 1 (1) $8,595.18 $8,426.64 2.00% Special - 2 (2) $9,177.90 $8,997.94 2.00% Tax Zone 2 Single Family Attached $2,622.26 $2,570.84 2.00% Less than 8,000 SF $0.00 $0.00 N/A 8,000-12,000 SF $4,916.74 $4,820.32 2.00% 12,001-14,000 SF $5,098.84 $4,998.86 2.00% 14,001-16,000 SF $5,280.94 $5,177.38 2.00% 16,001-18,000 SF $5,463.04 $5,355.92 2.00% 18,001-20,000 SF $5,645.14 $5,534.44 2.00% 20,001-22,000 SF $5,827.24 $5,712.98 2.00% Greater than 22,000 $6,009.35 $5,891.50 2.00% Golf Course Property $706.88 $693.02 2.00% Undeveloped Undeveloped i M $16,184.08 8.46% (1)The Special-1 Land Use Classification consists of 2 combined lots.One lot is in the 14,001-16,000 SF category and one lot is in the 16,001-18,000 SF category. (2)The Special—2 Land Use Classification consists of 2 combined lots.One lot is in the 18,001-20,000 SF category and one lot is in the 20,001-22,000 SF category. Truckee Donner PUD Page 19 Community Facilities District No. 04-1 (Gray's Crossing) November 2023 Page 122 of 231 1IY W l LLDAN EXHIBIT A TRUCKEE DONNER PUD COMMUNITY FACILITIES DISTRICT NO. 04-1 (GRAYS CROSSING Fiscal Year 2023124 Charge Detail Report Page 123 of 231 Truckee Donner PUD Community Facilities District No. 04-1 (Gray's Crossing) Charge Detail Report(Sorted by Assessor's Parcel Number) Assessor's Parcel Situs Address Land Assessed Structure Total Assessed Zone Lot Category Max Tax 2023/24 Total Number Value Assessed Value Value Charge 019-370-041-000 NO SITUS AVAILABLE $158,684.00 $41,814.00 $200,498.00 2 Golf Course $43,939.73 $43,939.72 019-770-002-000 11163 CHINA CAMP RD 656,986.00 0.00 656,986.00 2 Undeveloped 376,294.33 259,090.70 019-770-003-000 11054 CHINA CAMP RD 288,000.00 0.00 288,000.00 1 "16,001-18,000" 4,370.43 4,370.42 019-770-004-000 11072 CHINA CAMP RD 324,300.00 0.00 324,300.00 1 "14,001-16,000" 4,224.75 4,224.74 019-770-005-000 11092 CHINA CAMP RD 294,854.00 884,565.00 1,179,419.00 1 "14,001-16,000" 4,224.75 4,224.74 019-770-006-000 11106 CHINA CAMP RD 187,272.00 0.00 187,272.00 1 "14,001-16,000" 4,224.75 4,224.74 019-770-007-000 11122 CHINA CAMP RD 125,768.00 1,208,478.00 1,334,246.00 1 "14,001-16,000" 4,224.75 4,224.74 019-770-008-000 11140 CHINA CAMP RD 103,962.00 1,236,040.00 1,340,002.00 1 "14,001-16,000" 4,224.75 4,224.74 019-770-009-000 11160 CHINA CAMP RD 234,090.00 0.00 234,090.00 1 "14,001-16,000" 4,224.75 4,224.74 019-770-010-000 11184 CHINA CAMP RD 105,117.00 835,686.00 940,803.00 1 "14,001-16,000" 4,224.75 4,224.74 019-770-011-000 11208 CHINA CAMP RD 125,768.00 1,148,327.00 1,274,095.00 1 "14,001-16,000" 4,224.75 4,224.74 019-770-012-000 11226 CHINA CAMP RD 234,090.00 1,477,368.00 1,711,458.00 1 "14,001-16,000" 4,224.75 4,224.74 019-770-013-000 11242 CHINA CAMP RD 182,070.00 0.00 182,070.00 1 "14,001-16,000" 4,224.75 4,224.74 019-770-014-000 11229 CHINA CAMP RD 156,060.00 1,913,087.00 2,069,147.00 1 "14,001-16,000" 4,224.75 4,224.74 019-770-015-000 11209 CHINA CAMP RD 85,842.00 842,216.00 928,058.00 1 "14,001-16,000" 4,224.75 4,224.74 019-770-016-000 11125 CHINA CAMP RD 30,176.00 0.00 30,176.00 1 "12,001-14,000" 4,079.07 4,079.06 019-770-017-000 11101 CHINA CAMP RD 145,656.00 0.00 145,656.00 1 "12,001-14,000" 4,079.07 4,079.06 019-770-018-000 11083 CHINA CAMP RD 113,400.00 0.00 113,400.00 1 "12,001-14,000" 4,079.07 4,079.06 019-780-001-000 11258 CHINA CAMP RD 70,801.00 861,995.00 932,796.00 1 "16,001-18,000" 4,370.43 4,370.42 019-780-002-000 11274 CHINA CAMP RD 33,728.00 0.00 33,728.00 1 "16,001-18,000" 4,370.43 4,370.42 019-780-003-000 11290 CHINA CAMP RD 228,888.00 1,430,550.00 1,659,438.00 1 "16,001-18,000" 4,370.43 4,370.42 019-780-004-000 11306 CHINA CAMP RD 260,100.00 0.00 260,100.00 1 "16,001-18,000" 4,370.43 4,370.42 019-780-005-000 11312 CHINA CAMP RD 283,200.00 1,440,000.00 1,723,200.00 1 "20,001-22,000" 4,661.80 4,661.78 019-780-006-000 11636 COBURN DR 380,700.00 0.00 380,700.00 1 "16,001-18,000" 4,370.43 4,370.42 019-780-007-000 10701 LABELLE CT 131,236.00 1,066,303.00 1,197,539.00 1 "Greater than 22,000" 4,807.48 4,807.46 019-780-008-000 10751 LABELLE CT 118,112.00 0.00 118,112.00 1 "18,001-20,000" 4,516.11 4,516.10 019-780-009-000 10769 LABELLE CT 156,060.00 0.00 156,060.00 1 "16,001-18,000" 4,370.43 4,370.42 019-780-010-000 10789 LABELLE CT 132,174.00 1,477,781.00 1,609,955.00 1 "18,001-20,000" 4,516.11 4,516.10 019-780-011-000 10801 LABELLE CT 109,565.00 0.00 109,565.00 1 "14,001-16,000" 4,224.75 4,224.74 019-780-012-000 10811 LABELLE CT 85,335.00 0.00 85,335.00 1 "16,001-18,000" 4,370.43 4,370.42 019-780-014-000 10800 LABELLE CT 160,829.00 1,393,861.00 1,554,690.00 1 "16,001-18,000" 4,370.43 4,370.42 019-780-015-000 10788 LABELLE CT 235,000.00 1,207,900.00 1,442,900.00 1 "18,001-20,000" 4,516.11 4,516.10 019-780-016-000 10768 LABELLE CT 131,396.00 1,445,369.00 1,576,765.00 1 "16,001-18,000" 4,370.43 4,370.42 019-780-017-000 10750 LABELLE CT 96,714.00 0.00 96,714.00 1 "18,001-20,000" 4,516.11 4,516.10 019-780-018-000 11756 COBURN DR 104,065.00 0.00 104,065.00 1 "18,001-20,000" 4,516.11 4,516.10 019-780-019-000 11330 CHINA CAMP RD 106,300.00 0.00 106,300.00 1 "16,001-18,000" 4,370.43 4,370.42 019-780-020-000 11352 CHINA CAMP RD 137,853.00 0.00 137,853.00 1 "18,001-20,000" 4,516.11 4,516.10 019-780-021-000 11400 CHINA CAMP RD 136,704.00 1,178,982.00 1,315,686.00 1 "16,001-18,000" 4,370.43 4,370.42 019-780-022-000 11417 CHINA CAMP RD 119,125.00 0.00 119,125.00 1 "14,001-16,000" 4,224.75 4,224.74 019-780-023-000 11397 CHINA CAMP RD 161,262.00 1,206,864.00 1,368,126.00 1 "14,001-16,000" 4,224.75 4,224.74 019-780-024-000 11383 CHINA CAMP RD 109,321.00 0.00 109,321.00 1 "14,001-16,000" 4,224.75 4,224.74 019-780-025-000 11365 CHINA CAMP RD 245,000.00 1,225,000.00 1,470,000.00 1 "14,001-16,000" 4,224.75 4,224.74 019-780-026-000 11349 CHINA CAMP RD 120,299.00 0.00 120,299.00 1 "14,001-16,000" 4,224.75 4,224.74 019-780-027-000 11333 CHINA CAMP RD 36,939.00 942,039.00 978,978.00 1 "14,001-16,000" 4,224.75 4,224.74 019-780-028-000 11315 CHINA CAMP RD 64,673.00 961,205.00 1,025,878.00 1 "14,001-16,000" 4,224.75 4,224.74 019-780-029-000 11301 CHINA CAMP RD 171,500.00 0.00 171,500.00 1 "16,001-18,000" 4,370.43 4,370.42 Willdan Financial Services Page 1 of 10 Page 124 of 231 Truckee Donner PUD Community Facilities District No. 04-1 (Gray's Crossing) Charge Detail Report(Sorted by Assessor's Parcel Number) Assessor's Parcel Situs Address Land Assessed Structure Total Assessed Zone Lot Category Max Tax 2023/24 Total Number Value Assessed Value Value Charge 019-790-002-000 11569 CHINA CAMP RD 26,554.00 0.00 26,554.00 1 "14,001-16,000" 4,224.75 4,224.74 019-790-003-000 11555 CHINA CAMP RD 33,800.00 0.00 33,800.00 1 "16,001-18,000" 4,370.43 4,370.42 019-790-004-000 11539 CHINA CAMP RD 54,268.00 1,142,400.00 1,196,668.00 1 "16,001-18,000" 4,370.43 4,370.42 019-790-005-000 11523 CHINA CAMP RD 26,626.00 0.00 26,626.00 1 "14,001-16,000" 4,224.75 4,224.74 019-790-006-000 11509 CHINA CAMP RD 182,070.00 1,481,529.00 1,663,599.00 1 "14,001-16,000" 4,224.75 4,224.74 019-790-007-000 11493 CHINA CAMP RD 161,262.00 0.00 161,262.00 1 "14,001-16,000" 4,224.75 4,224.74 019-790-008-000 11471 CHINA CAMP RD 113,400.00 0.00 113,400.00 1 "20,001-22,000" 4,661.80 4,661.78 019-790-009-000 11464 CHINA CAMP RD 34,476.00 0.00 34,476.00 1 "14,001-16,000" 4,224.75 4,224.74 019-790-010-000 11478 CHINA CAMP RD 157,676.00 1,119,504.00 1,277,180.00 1 "14,001-16,000" 4,224.75 4,224.74 019-790-011-000 11516 CHINA CAMP RD 117,127.00 1,695,587.00 1,812,714.00 1 "18,001-20,000" 4,516.11 4,516.10 019-790-012-000 11574 CHINA CAMP RD 120,600.00 0.00 120,600.00 1 "18,001-20,000" 4,516.11 4,516.10 019-790-013-000 11608 CHINA CAMP RD 105,117.00 1,287,692.00 1,392,809.00 1 "14,001-16,000" 4,224.75 4,224.74 019-790-014-000 11628 CHINA CAMP RD 117,941.00 1,312,374.00 1,430,315.00 1 "14,001-16,000" 4,224.75 4,224.74 019-790-015-000 11644 CHINA CAMP RD 392,000.00 1,764,000.00 2,156,000.00 1 "16,001-18,000" 4,370.43 4,370.42 019-790-016-000 11759 COBURN DR 253,000.00 0.00 253,000.00 1 "14,001-16,000" 4,224.75 4,224.74 019-790-017-000 11729 COBURN DR 106,300.00 0.00 106,300.00 1 "14,001-16,000" 4,224.75 4,224.74 019-790-018-000 11711 COBURN DR 85,753.00 2,000,000.00 2,085,753.00 1 "14,001-16,000" 4,224.75 4,224.74 019-790-019-000 11671 COBURN DR 106,300.00 0.00 106,300.00 1 "Greater than 22,000" 4,807.48 4,807.46 019-790-020-000 11422 CHINA CAMP RD 34,476.00 0.00 34,476.00 1 "14,001-16,000" 4,224.75 4,224.74 019-790-021-000 11436 CHINA CAMP RD 123,807.00 0.00 123,807.00 1 "14,001-16,000" 4,224.75 4,224.74 019-790-022-000 10576 BRICKELL CT 107,521.00 0.00 107,521.00 1 "18,001-20,000" 4,516.11 4,516.10 019-790-023-000 10573 BRICKELL CT 199,756.00 0.00 199,756.00 1 "18,001-20,000" 4,516.11 4,516.10 019-790-024-000 10567 BRICKELL CT 244,400.00 0.00 244,400.00 1 "16,001-18,000" 4,370.43 4,370.42 019-790-025-000 10551 BRICKELL CT 26,554.00 0.00 26,554.00 1 "16,001-18,000" 4,370.43 4,370.42 019-790-026-000 10541 BRICKELL CT 142,534.00 0.00 142,534.00 1 "12,001-14,000" 4,079.07 4,079.06 019-790-027-000 10529 BRICKELL CT 120,299.00 1,106,153.00 1,226,452.00 1 "16,001-18,000" 4,370.43 4,370.42 019-800-001-000 11762 COBURN DR 80,382.00 0.00 80,382.00 1 "18,001-20,000" 4,516.11 4,516.10 019-800-002-000 11728 CHINA CAMP RD 252,900.00 0.00 252,900.00 1 "14,001-16,000" 4,224.75 4,224.74 019-800-003-000 11746 CHINA CAMP RD 36,939.00 886,623.00 923,562.00 1 "14,001-16,000" 4,224.75 4,224.74 019-800-004-000 11768 CHINA CAMP RD 145,016.00 1,461,328.00 1,606,344.00 1 "16,001-18,000" 4,370.43 4,370.42 019-800-005-000 11776 CHINA CAMP RD 85,335.00 0.00 85,335.00 1 "12,001-14,000" 4,079.07 4,079.06 019-800-008-000 11759 CHINA CAMP RD 463,587.00 1,010,005.00 1,473,592.00 1 "16,001-18,000" 4,370.43 4,370.42 019-800-009-000 11737 CHINA CAMP RD 111,300.00 808,623.00 919,923.00 1 "16,001-18,000" 4,370.43 4,370.42 019-800-010-000 11719 CHINA CAMP RD 103,895.00 0.00 103,895.00 1 "14,001-16,000" 4,224.75 4,224.74 019-800-011-000 11699 CHINA CAMP RD 175,827.00 0.00 175,827.00 1 "14,001-16,000" 4,224.75 4,224.74 019-800-012-000 11820 COBURN DR 53,258.00 0.00 53,258.00 1 "20,001-22,000" 4,661.80 4,661.78 019-800-015-000 11874 COBURN DR 286,110.00 1,425,348.00 1,711,458.00 1 "18,001-20,000" 4,516.11 4,516.10 019-800-016-000 11900 COBURN DR 86,194.00 952,801.00 1,038,995.00 1 "16,001-18,000" 4,370.43 4,370.42 019-800-017-000 11910 COBURN DR 240,000.00 2,832,000.00 3,072,000.00 1 "16,001-18,000" 4,370.43 4,370.42 019-800-020-000 11893 COBURN DR 139,716.00 1,994,100.00 2,133,816.00 1 "18,001-20,000" 4,516.11 4,516.10 019-800-021-000 11881 COBURN DR 274,400.00 0.00 274,400.00 1 "16,001-18,000" 4,370.43 4,370.42 019-800-022-000 11863 COBURN DR 131,236.00 1,290,500.00 1,421,736.00 1 "14,001-16,000" 4,224.75 4,224.74 019-800-023-000 11851 COBURN DR 74,990.00 1,492,673.00 1,567,663.00 1 "14,001-16,000" 4,224.75 4,224.74 019-800-024-000 11835 COBURN DR 84,325.00 0.00 84,325.00 1 "14,001-16,000" 4,224.75 4,224.74 019-800-025-000 11657 CHINA CAMP RD 166,464.00 0.00 166,464.00 1 "18,001-20,000" 4,516.11 4,516.10 019-800-026-000 11631 CHINA CAMP RD 87,490.00 0.00 87,490.00 1 "16,001-18,000" 4,370.43 4,370.42 Willdan Financial Services Page 2 of 10 Page 125 of 231 Truckee Donner PUD Community Facilities District No. 04-1 (Gray's Crossing) Charge Detail Report(Sorted by Assessor's Parcel Number) Assessor's Parcel Situs Address Land Assessed Structure Total Assessed Zone Lot Category Max Tax 2023/24 Total Number Value Assessed Value Value Charge 019-800-027-000 11607 CHINA CAMP RD 49,623.00 0.00 49,623.00 1 "16,001-18,000" 4,370.43 4,370.42 019-800-028-000 11585 CHINA CAMP RD 288,000.00 2,256,000.00 2,544,000.00 1 "16,001-18,000" 4,370.43 4,370.42 019-800-029-000 11660 CHINA CAMP RD 120,539.00 1,565,413.00 1,685,952.00 1 "16,001-18,000" 4,370.43 4,370.42 019-800-030-000 11777 CHINA CAMP RD 307,757.00 1,352,520.00 1,660,277.00 1 "Greater than 22,000" 4,807.48 4,807.46 019-800-031-000 11830 COBURN DR 360,698.00 0.00 360,698.00 1 Special-1 (2 Lots,14-16K&16-18K) 8,595.19 8,595.18 019-800-032-000 11919 COBURN DR 286,629.00 1,694,055.00 1,980,684.00 1 Special-2(2 Lots 18-20K&20-22K) 9,177.91 9,177.90 019-840-001-000 11710 BOTTCHER LP 70,690.00 0.00 70,690.00 2 "16,001-18,000" 5,463.04 5,463.04 019-840-002-000 11690 BOTTCHER LP 239,100.00 0.00 239,100.00 2 "16,001-18,000" 5,463.04 5,463.04 019-840-003-000 11670 BOTTCHER LP 230,400.00 0.00 230,400.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-004-000 11685 KELLEY DR 105,117.00 1,524,208.00 1,629,325.00 2 "16,001-18,000" 5,463.04 5,463.04 019-840-005-000 11695 KELLEY DR 102,999.00 0.00 102,999.00 2 "12,001-14,000" 5,098.84 5,098.82 019-840-006-000 11705 KELLEY DR 59,546.00 0.00 59,546.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-007-000 11715 KELLEY DR 107,219.00 1,393,861.00 1,501,080.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-008-000 11735 KELLEY DR 199,756.00 0.00 199,756.00 2 "16,001-18,000" 5,463.04 5,463.04 019-840-009-000 11784 KELLEY DR 111,550.00 1,165,716.00 1,277,266.00 2 "16,001-18,000" 5,463.04 5,463.04 019-840-010-000 11764 KELLEY DR 156,060.00 1,841,508.00 1,997,568.00 2 "16,001-18,000" 5,463.04 5,463.04 019-840-011-000 11744 KELLEY DR 260,100.00 1,976,760.00 2,236,860.00 2 "16,001-18,000" 5,463.04 5,463.04 019-840-012-000 11724 KELLEY DR 96,714.00 0.00 96,714.00 2 "18,001-20,000" 5,645.14 5,645.14 019-840-013-000 11704 KELLEY DR 147,916.00 1,496,243.00 1,644,159.00 2 "18,001-20,000" 5,645.14 5,645.14 019-840-014-000 11684 KELLEY DR 260,100.00 1,560,600.00 1,820,700.00 2 "18,001-20,000" 5,645.14 5,645.14 019-840-015-000 11664 KELLEY DR 228,888.00 1,269,288.00 1,498,176.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-016-000 11650 BOTTCHER LP 171,666.00 0.00 171,666.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-017-000 11630 BOTTCHER LP 414,000.00 0.00 414,000.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-018-000 11610 BOTTCHER LP 269,500.00 1,372,000.00 1,641,500.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-019-000 11590 BOTTCHER LP 297,600.00 1,536,000.00 1,833,600.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-020-000 11570 BOTTCHER LP 127,066.00 0.00 127,066.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-021-000 11550 BOTTCHER LP 260,100.00 1,690,650.00 1,950,750.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-022-000 11530 BOTTCHER LP 260,100.00 1,173,571.00 1,433,671.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-023-000 11521 BOTTCHER LP 182,070.00 1,560,600.00 1,742,670.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-024-000 11541 BOTTCHER LP 74,435.00 1,383,377.00 1,457,812.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-025-000 11561 BOTTCHER LP 336,000.00 0.00 336,000.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-026-000 11581 BOTTCHER LP 147,164.00 0.00 147,164.00 2 "16,001-18,000" 5,463.04 5,463.04 019-840-027-000 11621 BOTTCHER LP 156,172.00 1,489,216.00 1,645,388.00 2 "16,001-18,000" 5,463.04 5,463.04 019-840-028-000 11641 BOTTCHER LP 303,600.00 0.00 303,600.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-029-000 11651 BOTTCHER LP 312,800.00 0.00 312,800.00 2 "14,001-16,000" 5,280.94 5,280.94 019-840-030-000 11675 KELLEY DR 49,251.00 1,108,281.00 1,157,532.00 2 "18,001-20,000" 5,645.14 5,645.14 019-850-002-000 11411 GHIRARD RD 372,600.00 0.00 372,600.00 2 "16,001-18,000" 5,463.04 5,463.04 019-850-003-000 11431 GHIRARD RD 368,000.00 2,116,000.00 2,484,000.00 2 "16,001-18,000" 5,463.04 5,463.04 019-850-004-000 11451 GHIRARD RD 294,000.00 2,028,600.00 2,322,600.00 2 "16,001-18,000" 5,463.04 5,463.04 019-850-005-000 11471 GHIRARD RD 289,073.00 1,492,673.00 1,781,746.00 2 "16,001-18,000" 5,463.04 5,463.04 019-850-006-000 11491 GHIRARD RD 468,180.00 1,602,216.00 2,070,396.00 2 "16,001-18,000" 5,463.04 5,463.04 019-850-007-000 11511 GHIRARD RD 172,904.00 1,359,728.00 1,532,632.00 2 "16,001-18,000" 5,463.04 5,463.04 019-850-008-000 11510 BOTTCHER LP 54,324.00 847,165.00 901,489.00 2 "16,001-18,000" 5,463.04 5,463.04 019-850-009-000 11490 BOTTCHER LP 318,500.00 2,058,000.00 2,376,500.00 2 "14,001-16,000" 5,280.94 5,280.94 019-850-010-000 11470 BOTTCHER LP 181,431.00 1,187,830.00 1,369,261.00 2 "14,001-16,000" 5,280.94 5,280.94 019-850-011-000 11450 BOTTCHER LP 164,045.00 1,432,674.00 1,596,719.00 2 "14,001-16,000" 5,280.94 5,280.94 Willdan Financial Services Page 3 of 10 Page 126 of 231 Truckee Donner PUD Community Facilities District No. 04-1 (Gray's Crossing) Charge Detail Report(Sorted by Assessor's Parcel Number) Assessor's Parcel Situs Address Land Assessed Structure Total Assessed Zone Lot Category Max Tax 2023/24 Total Number Value Assessed Value Value Charge 019-850-012-000 11430 BOTTCHER LP 329,000.00 0.00 329,000.00 2 "14,001-16,000" 5,280.94 5,280.94 019-850-013-000 11410 BOTTCHER LP 158,624.00 1,348,464.00 1,507,088.00 2 "16,001-18,000" 5,463.04 5,463.04 019-850-014-000 11481 BOTTCHER LP 282,000.00 2,538,000.00 2,820,000.00 2 "14,001-16,000" 5,280.94 5,280.94 019-850-015-000 11501 BOTTCHER LP 299,000.00 0.00 299,000.00 2 "14,001-16,000" 5,280.94 5,280.94 019-850-016-000 11624 KELLEY DR 164,383.00 0.00 164,383.00 2 "14,001-16,000" 5,280.94 5,280.94 019-850-017-000 11604 KELLEY DR 161,262.00 0.00 161,262.00 2 "20,001-22,000" 5,827.24 5,827.24 019-850-018-000 11584 KELLEY DR 423,000.00 0.00 423,000.00 2 "16,001-18,000" 5,463.04 5,463.04 019-850-019-000 11564 KELLEY DR 148,800.00 0.00 148,800.00 2 "14,001-16,000" 5,280.94 5,280.94 019-850-020-000 11544 KELLEY DR 145,656.00 1,144,440.00 1,290,096.00 2 "14,001-16,000" 5,280.94 5,280.94 019-850-021-000 11524 KELLEY DR 78,030.00 1,732,266.00 1,810,296.00 2 "14,001-16,000" 5,280.94 5,280.94 019-850-022-000 11520 GHIRARD RD 322,000.00 2,140,800.00 2,462,800.00 2 "14,001-16,000" 5,280.94 5,280.94 019-850-023-000 11500 GHIRARD RD 297,600.00 0.00 297,600.00 2 "14,001-16,000" 5,280.94 5,280.94 019-850-024-000 11480 GHIRARD RD 174,982.00 1,164,732.00 1,339,714.00 2 "14,001-16,000" 5,280.94 5,280.94 019-850-025-000 11460 GHIRARD RD 166,669.00 1,356,120.00 1,522,789.00 2 "14,001-16,000" 5,280.94 5,280.94 019-850-026-000 11440 GHIRARD RD 180,858.00 1,397,400.00 1,578,258.00 2 "14,001-16,000" 5,280.94 5,280.94 019-850-027-000 11420 GHIRARD RD 131,396.00 0.00 131,396.00 2 "16,001-18,000" 5,463.04 5,463.04 019-860-002-000 11191 GHIRARD RD 227,676.00 755,000.00 982,676.00 2 "18,001-20,000" 5,645.14 5,645.14 019-860-003-000 11261 GHIRARD RD 264,412.00 440,000.00 704,412.00 2 "20,001-22,000" 5,827.24 5,827.24 019-860-004-000 11251 GHIRARD RD 416,160.00 2,027,739.00 2,443,899.00 2 "18,001-20,000" 5,645.14 5,645.14 019-860-005-000 11291 GHIRARD RD 494,190.00 1,743,710.00 2,237,900.00 2 "18,001-20,000" 5,645.14 5,645.14 019-860-006-000 11311 GHIRARD RD 384,000.00 2,971,200.00 3,355,200.00 2 "18,001-20,000" 5,645.14 5,645.14 019-860-007-000 11331 GHIRARD RD 305,576.00 1,426,028.00 1,731,604.00 2 "16,001-18,000" 5,463.04 5,463.04 019-860-008-000 11371 GHIRARD RD 256,567.00 1,627,758.00 1,884,325.00 2 "18,001-20,000" 5,645.14 5,645.14 019-860-009-000 11391 GHIRARD RD 490,000.00 2,450,000.00 2,940,000.00 2 "18,001-20,000" 5,645.14 5,645.14 019-860-010-000 11400 GHIRARD RD 202,878.00 0.00 202,878.00 2 "14,001-16,000" 5,280.94 5,280.94 019-860-011-000 11380 GHIRARD RD 115,283.00 1,196,446.00 1,311,729.00 2 "14,001-16,000" 5,280.94 5,280.94 019-860-012-000 11360 GHIRARD RD 388,800.00 0.00 388,800.00 2 "14,001-16,000" 5,280.94 5,280.94 019-860-013-000 11340 GHIRARD RD 160,829.00 1,902,632.00 2,063,461.00 2 "14,001-16,000" 5,280.94 5,280.94 019-860-014-000 11320 GHIRARD RD 182,070.00 1,753,074.00 1,935,144.00 2 "14,001-16,000" 5,280.94 5,280.94 019-860-015-000 11300 GHIRARD RD 136,651.00 1,603,046.00 1,739,697.00 2 "14,001-16,000" 5,280.94 5,280.94 019-860-016-000 11280 GHIRARD RD 82,279.00 820,173.00 902,452.00 2 "14,001-16,000" 5,280.94 5,280.94 019-860-017-000 11260 GHIRARD RD 276,000.00 1,840,000.00 2,116,000.00 2 "16,001-18,000" 5,463.04 5,463.04 019-860-018-000 11240 GHIRARD RD 141,272.00 1,187,830.00 1,329,102.00 2 "16,001-18,000" 5,463.04 5,463.04 019-860-019-000 11220 GHIRARD RD 125,768.00 0.00 125,768.00 2 "16,001-18,000" 5,463.04 5,463.04 019-860-020-000 11200 GHIRARD RD 163,100.00 - 163,100.00 2 "16,001-18,000" 5,463.04 5,463.04 019-870-002-000 11531 GHIRARD RD 384,000.00 2,452,800.00 2,836,800.00 2 "18,001-20,000" 5,645.14 5,645.14 019-870-003-000 11551 GHIRARD RD 262,473.00 1,569,381.00 1,831,854.00 2 "18,001-20,000" 5,645.14 5,645.14 019-870-004-000 11571 GHIRARD RD 211,946.00 1,305,156.00 1,517,102.00 2 "20,001-22,000" 5,827.24 5,827.24 019-870-005-000 11611 GHIRARD RD 491,879.00 2,253,506.00 2,745,385.00 2 "Greater than 22,000" 6,009.35 6,009.34 019-870-006-000 11631 GHIRARD RD 244,757.00 1,135,203.00 1,379,960.00 2 "Greater than 22,000" 6,009.35 6,009.34 019-870-007-000 11651 GHIRARD RD 193,429.00 1,251,610.00 1,445,039.00 2 "20,001-22,000" 5,827.24 5,827.24 019-870-008-000 11890 BOTTCHER LP 33,800.00 - 33,800.00 2 "14,001-16,000" 5,280.94 5,280.94 019-870-009-000 11870 BOTTCHER LP 104,040.00 0.00 104,040.00 2 "16,001-18,000" 5,463.04 5,463.04 019-870-010-000 11850 BOTTCHER LP 263,200.00 - 263,200.00 2 "14,001-16,000" 5,280.94 5,280.94 019-870-011-000 11830 BOTTCHER LP 276,000.00 0.00 276,000.00 2 "14,001-16,000" 5,280.94 5,280.94 019-870-012-000 11810 BOTTCHER LP 55,901.00 0.00 55,901.00 2 "14,001-16,000" 5,280.94 5,280.94 Willdan Financial Services Page 4 of 10 Page 127 of 231 Truckee Donner PUD Community Facilities District No. 04-1 (Gray's Crossing) Charge Detail Report(Sorted by Assessor's Parcel Number) Assessor's Parcel Situs Address Land Assessed Structure Total Assessed Zone Lot Category Max Tax 2023/24 Total Number Value Assessed Value Value Charge 019-870-013-000 11790 BOTTCHER LP 222,645.00 0.00 222,645.00 2 "14,001-16,000" 5,280.94 5,280.94 019-870-014-000 11770 BOTTCHER LP 156,060.00 1,040,400.00 1,196,460.00 2 "14,001-16,000" 5,280.94 5,280.94 019-870-015-000 11750 BOTTCHER LP 40,632.00 0.00 40,632.00 2 "16,001-18,000" 5,463.04 5,463.04 019-870-016-000 11730 BOTTCHER LP 62,028.00 930,520.00 992,548.00 2 "14,001-16,000" 5,280.94 5,280.94 019-870-017-000 11721 BOTTCHER LP 74,435.00 1,009,565.00 1,084,000.00 2 "20,001-22,000" 5,827.24 5,827.24 019-870-018-000 11741 BOTTCHER LP 38,023.00 0.00 38,023.00 2 "14,001-16,000" 5,280.94 5,280.94 019-870-019-000 11761 BOTTCHER LP 300,504.00 300,000.00 600,504.00 2 "14,001-16,000" 5,280.94 5,280.94 019-870-020-000 11781 BOTTCHER LP 145,836.00 1,160,046.00 1,305,882.00 2 "14,001-16,000" 5,280.94 5,280.94 019-870-021-000 11801 BOTTCHER LP 258,500.00 0.00 258,500.00 2 "16,001-18,000" 5,463.04 5,463.04 019-870-022-000 11821 BOTTCHER LP 142,426.00 1,652,184.00 1,794,610.00 2 "14,001-16,000" 5,280.94 5,280.94 019-870-023-000 11841 BOTTCHER LP 286,700.00 0.00 286,700.00 2 "14,001-16,000" 5,280.94 5,280.94 019-870-024-000 11861 BOTTCHER LP 253,686.00 2,470,000.00 2,723,686.00 2 "16,001-18,000" 5,463.04 5,463.04 019-870-025-000 11891 BOTTCHER LP 139,385.00 1,308,084.00 1,447,469.00 2 "16,001-18,000" 5,463.04 5,463.04 019-870-026-000 11680 GHIRARD RD 329,000.00 1,598,000.00 1,927,000.00 2 "14,001-16,000" 5,280.94 5,280.94 019-870-027-000 11660 GHIRARD RD 176,708.00 1,055,367.00 1,232,075.00 2 "16,001-18,000" 5,463.04 5,463.04 019-870-028-000 11640 GHIRARD RD 202,990.00 2,172,600.00 2,375,590.00 2 "16,001-18,000" 5,463.04 5,463.04 019-870-029-000 11620 GHIRARD RD 259,700.00 0.00 259,700.00 2 "16,001-18,000" 5,463.04 5,463.04 019-870-030-000 11600 GHIRARD RD 172,319.00 2,210,850.00 2,383,169.00 2 "14,001-16,000" 5,280.94 5,280.94 019-870-031-000 11580 GHIRARD RD 153,459.00 153,459.00 2 "16,001-18,000" 5,463.04 5,463.04 019-870-032-000 11560 GHIRARD RD 262,793.00 1,518,952.00 1,781,745.00 2 "16,001-18,000" 5,463.04 5,463.04 019-870-033-000 11540 GHIRARD RD 176,911.00 1,538,608.00 1,715,519.00 2 "16,001-18,000" 5,463.04 5,463.04 019-870-034-000 11555 KELLEY DR 196,635.00 0.00 196,635.00 2 "14,001-16,000" 5,280.94 5,280.94 019-870-035-000 11575 KELLEY DR 105,117.00 0.00 105,117.00 2 "14,001-16,000" 5,280.94 5,280.94 019-870-036-000 11595 KELLEY DR 157,676.00 1,261,413.00 1,419,089.00 2 "16,001-18,000" 5,463.04 5,463.04 019-870-037-000 11615 KELLEY DR 76,583.00 1,030,974.00 1,107,557.00 2 "16,001-18,000" 5,463.04 5,463.04 019-870-038-000 11635 KELLEY DR 408,000.00 0.00 408,000.00 2 "16,001-18,000" 5,463.04 5,463.04 019-870-039-000 11655 KELLEY DR 216,601.00 0.00 216,601.00 2 "14,001-16,000" 5,280.94 5,280.94 019-880-001-000 11082 MEEK CT 298,513.00 1,445,315.00 1,743,828.00 2 "20,001-22,000" 5,827.24 5,827.24 019-880-002-000 11102 MEEK CT 132,097.00 727,760.00 859,857.00 2 "Greater than 22,000" 6,009.35 6,009.34 019-880-003-000 11122 MEEK CT 161,196.00 1,177,652.00 1,338,848.00 2 "18,001-20,000" 5,645.14 5,645.14 019-880-004-000 11142 MEEK CT 111,929.00 800,624.00 912,553.00 2 "20,001-22,000" 5,827.24 5,827.24 019-880-005-000 11139 MEEK CT 77,135.00 1,481,888.00 1,559,023.00 2 "Greater than 22,000" 6,009.35 6,009.34 019-880-006-000 11133 MEEK CT 262,200.00 0.00 262,200.00 2 "18,001-20,000" 5,645.14 5,645.14 019-880-007-000 11113 MEEK CT 176,911.00 1,805,923.00 1,982,834.00 2 "16,001-18,000" 5,463.04 5,463.04 019-880-008-000 10989 GHIRARD RD 72,432.00 1,560,528.00 1,632,960.00 2 "16,001-18,000" 5,463.04 5,463.04 019-880-009-000 11011 GHIRARD RD 289,073.00 1,387,554.00 1,676,627.00 2 "16,001-18,000" 5,463.04 5,463.04 019-880-010-000 11031 GHIRARD RD 262,473.00 1,425,334.00 1,687,807.00 2 "16,001-18,000" 5,463.04 5,463.04 019-880-011-000 11051 GHIRARD RD 262,200.00 0.00 262,200.00 2 "14,001-16,000" 5,280.94 5,280.94 019-880-012-000 11000 GHIRARD RD 156,511.00 1,040,035.00 1,196,546.00 2 "14,001-16,000" 5,280.94 5,280.94 019-880-013-000 11020 GHIRARD RD 134,550.00 0.00 134,550.00 2 "18,001-20,000" 5,645.14 5,645.14 019-880-014-000 11040 GHIRARD RD 286,110.00 1,898,730.00 2,184,840.00 2 "18,001-20,000" 5,645.14 5,645.14 019-880-015-000 11060 GHIRARD RD 74,315.00 0.00 74,315.00 2 "20,001-22,000" 5,827.24 5,827.24 019-880-016-000 11080 GHIRARD RD 239,292.00 0.00 239,292.00 2 "16,001-18,000" 5,463.04 5,463.04 019-880-017-000 11100 GHIRARD RD 306,918.00 0.00 306,918.00 2 "16,001-18,000" 5,463.04 5,463.04 019-880-018-000 11120 GHIRARD RD 95,588.00 0.00 95,588.00 2 "18,001-20,000" 5,645.14 5,645.14 019-890-002-000 11691 GHIRARD RD 86,068.00 1,011,621.00 1,097,689.00 2 "16,001-18,000" 5,463.04 5,463.04 Willdan Financial Services Page 5 of 10 Page 128 of 231 Truckee Donner PUD Community Facilities District No. 04-1 (Gray's Crossing) Charge Detail Report(Sorted by Assessor's Parcel Number) Assessor's Parcel Situs Address Land Assessed Structure Total Assessed Zone Lot Category Max Tax 2023/24 Total Number Value Assessed Value Value Charge 019-890-003-000 11711 GHIRARD RD 228,888.00 0.00 228,888.00 2 "16,001-18,000" 5,463.04 5,463.04 019-890-004-000 11731 GHIRARD RD 432,000.00 0.00 432,000.00 2 "16,001-18,000" 5,463.04 5,463.04 019-890-005-000 11751 GHIRARD RD 131,396.00 1,550,487.00 1,681,883.00 2 "18,001-20,000" 5,645.14 5,645.14 019-890-006-000 11771 GHIRARD RD 208,080.00 0.00 208,080.00 2 "16,001-18,000" 5,463.04 5,463.04 019-890-007-000 11791 GHIRARD RD 288,000.00 2,088,700.00 2,376,700.00 2 "16,001-18,000" 5,463.04 5,463.04 019-890-008-000 11831 GHIRARD RD 269,292.00 2,595,000.00 2,864,292.00 2 "20,001-22,000" 5,827.24 5,827.24 019-890-009-000 11840 GHIRARD RD 122,704.00 987,232.00 1,109,936.00 2 "16,001-18,000" 5,463.04 5,463.04 019-890-010-000 11820 GHIRARD RD 145,656.00 0.00 145,656.00 2 "16,001-18,000" 5,463.04 5,463.04 019-890-011-000 11800 GHIRARD RD 122,723.00 1,664,640.00 1,787,363.00 2 "14,001-16,000" 5,280.94 5,280.94 019-890-012-000 11780 GHIRARD RD 107,800.00 0.00 107,800.00 2 "14,001-16,000" 5,280.94 5,280.94 019-890-013-000 11760 GHIRARD RD 416,160.00 1,497,135.00 1,913,295.00 2 "14,001-16,000" 5,280.94 5,280.94 019-890-014-000 11950 BOTTCHER LP 78,758.00 1,269,721.00 1,348,479.00 2 "18,001-20,000" 5,645.14 5,645.14 019-890-015-000 11930 BOTTCHER LP 106,641.00 0.00 106,641.00 2 "14,001-16,000" 5,280.94 5,280.94 019-890-016-000 11910 BOTTCHER LP 467,932.00 1,242,703.00 1,710,635.00 2 "14,001-16,000" 5,280.94 5,280.94 019-890-017-000 11720 GHIRARD RD 128,283.00 0.00 128,283.00 2 "16,001-18,000" 5,463.04 5,463.04 019-890-018-000 11700 GHIRARD RD 269,500.00 1,960,000.00 2,229,500.00 2 "14,001-16,000" 5,280.94 5,280.94 019-900-002-000 11021 HENNESS RD 136,651.00 1,087,968.00 1,224,619.00 2 "18,001-20,000" 5,645.14 5,645.14 019-900-003-000 11041 HENNESS RD 141,700.00 141,700.00 2 "16,001-18,000" 5,463.04 5,463.04 019-900-004-000 11061 HENNESS RD 265,200.00 2,590,800.00 2,856,000.00 2 "14,001-16,000" 5,280.94 5,280.94 019-900-005-000 11081 HENNESS RD 133,860.00 1,444,596.00 1,578,456.00 2 "14,001-16,000" 5,280.94 5,280.94 019-900-006-000 11111 HENNESS RD 230,968.00 0.00 230,968.00 2 "14,001-16,000" 5,280.94 5,280.94 019-900-007-000 11121 HENNESS RD 324,604.00 0.00 324,604.00 2 "14,001-16,000" 5,280.94 5,280.94 019-900-008-000 11141 HENNESS RD 36,214.00 0.00 36,214.00 2 "14,001-16,000" 5,280.94 5,280.94 019-900-009-000 11149 HENNESS RD 260,100.00 1,872,720.00 2,132,820.00 2 "14,001-16,000" 5,280.94 5,280.94 019-900-010-000 11150 HENNESS RD 135,494.00 0.00 135,494.00 2 "16,001-18,000" 5,463.04 5,463.04 019-900-011-000 11130 HENNESS RD 329,000.00 2,542,700.00 2,871,700.00 2 "16,001-18,000" 5,463.04 5,463.04 019-900-012-000 11110 HENNESS RD 161,403.00 2,881,908.00 3,043,311.00 2 "Greater than 22,000" 6,009.35 6,009.34 019-900-013-000 11002 MEEK CT 300,752.00 0.00 300,752.00 2 "Greater than 22,000" 6,009.35 6,009.34 019-900-014-000 11022 MEEK CT 153,864.00 1,029,737.00 1,183,601.00 2 "18,001-20,000" 5,645.14 5,645.14 019-900-017-000 11093 MEEK CT 338,130.00 1,638,630.00 1,976,760.00 2 "14,001-16,000" 5,280.94 5,280.94 019-900-018-000 11073 MEEK CT 174,982.00 1,421,739.00 1,596,721.00 2 "14,001-16,000" 5,280.94 5,280.94 019-900-019-000 11053 MEEK CT 163,100.00 0.00 163,100.00 2 "20,001-22,000" 5,827.24 5,827.24 019-900-020-000 11033 MEEK CT 150,107.00 1,350,973.00 1,501,080.00 2 "20,001-22,000" 5,827.24 5,827.24 019-900-021-000 11090 HENNESS RD 182,070.00 1,050,804.00 1,232,874.00 2 "16,001-18,000" 5,463.04 5,463.04 019-900-022-000 11070 HENNESS RD 468,180.00 2,080,800.00 2,548,980.00 2 "Greater than 22,000" 6,009.35 6,009.34 019-900-023-000 11042 HENNESS RD 235,133.00 1,460,016.00 1,695,149.00 2 "Greater than 22,000" 6,009.35 6,009.34 019-900-024-000 11036 HENNESS RD 236,514.00 1,487,417.00 1,723,931.00 2 "20,001-22,000" 5,827.24 5,827.24 019-900-025-000 11030 HENNESS RD 160,193.00 2,101,608.00 2,261,801.00 2 "18,001-20,000" 5,645.14 5,645.14 019-900-026-000 11010 HENNESS RD 47,126.00 0.00 47,126.00 2 "16,001-18,000" 5,463.04 5,463.04 019-900-027-000 11052 MEEK CT 232,977.00 1,445,041.00 1,678,018.00 2 "Greater than 22,000" 6,009.35 6,009.34 019-910-001-000 11159 HENNESS RD 196,464.00 1,115,000.00 1,311,464.00 2 "14,001-16,000" 5,280.94 5,280.94 019-910-002-000 11169 HENNESS RD 432,400.00 1,754,500.00 2,186,900.00 2 "20,001-22,000" 5,827.24 5,827.24 019-910-003-000 11199 HENNESS RD 207,039.00 0.00 207,039.00 2 "18,001-20,000" 5,645.14 5,645.14 019-910-004-000 11219 HENNESS RD 85,335.00 0.00 85,335.00 2 "12,001-14,000" 5,098.84 5,098.82 019-910-005-000 11239 HENNESS RD 150,107.00 1,522,526.00 1,672,633.00 2 "14,001-16,000" 5,280.94 5,280.94 019-910-006-000 11259 HENNESS RD 113,781.00 919,363.00 1,033,144.00 2 "14,001-16,000" 5,280.94 5,280.94 Willdan Financial Services Page 6 of 10 Page 129 of 231 Truckee Donner PUD Community Facilities District No. 04-1 (Gray's Crossing) Charge Detail Report(Sorted by Assessor's Parcel Number) Assessor's Parcel Situs Address Land Assessed Structure Total Assessed Zone Lot Category Max Tax 2023/24 Total Number Value Assessed Value Value Charge 019-910-007-000 11330 HENNESS RD 191,398.00 2,769,300.00 2,960,698.00 2 "18,001-20,000" 5,645.14 5,645.14 019-910-008-000 11310 HENNESS RD 74,435.00 1,414,395.00 1,488,830.00 2 "14,001-16,000" 5,280.94 5,280.94 019-910-009-000 11290 HENNESS RD 231,258.00 1,377,042.00 1,608,300.00 2 "14,001-16,000" 5,280.94 5,280.94 019-910-010-000 11270 HENNESS RD 343,000.00 1,911,000.00 2,254,000.00 2 "12,001-14,000" 5,098.84 5,098.82 019-910-011-000 NO SITUS AVAILABLE 338,130.00 1,534,590.00 1,872,720.00 2 "12,001-14,000" 5,098.84 5,098.82 019-910-012-000 11230 HENNESS RD 322,524.00 - 322,524.00 2 "14,001-16,000" 5,280.94 5,280.94 019-910-013-000 11210 HENNESS RD 124,139.00 742,299.00 866,438.00 2 "12,001-14,000" 5,098.84 5,098.82 019-910-014-000 11190 HENNESS RD 727,921.00 1,560,600.00 2,288,521.00 2 "14,001-16,000" 5,280.94 5,280.94 019-910-015-000 11170 HENNESS RD 183,955.00 1,382,298.00 1,566,253.00 2 "18,001-20,000" 5,645.14 5,645.14 019-910-016-000 11851 GHIRARD RD 331,704.00 2,631,600.00 2,963,304.00 2 "18,001-20,000" 5,645.14 5,645.14 019-910-017-000 11871 GHIRARD RD 301,104.00 2,448,000.00 2,749,104.00 2 "14,001-16,000" 5,280.94 5,280.94 019-910-018-000 11881 GHIRARD RD 47,339.00 0.00 47,339.00 2 "16,001-18,000" 5,463.04 5,463.04 019-910-019-000 11890 GHIRARD RD 49,706.00 0.00 49,706.00 2 "20,001-22,000" 5,827.24 5,827.24 019-910-020-000 11880 GHIRARD RD 135,800.00 1,194,900.00 1,330,700.00 2 "14,001-16,000" 5,280.94 5,280.94 019-910-021-000 11860 GHIRARD RD 37,872.00 0.00 37,872.00 2 "14,001-16,000" 5,280.94 5,280.94 043-010-002-000 NO SITUS AVAILABLE 160,829.00 0.00 160,829.00 2 Golf Course 30,325.20 30,325.18 043-010-003-000 NO SITUS AVAILABLE 253,038.00 38,598.00 291,636.00 2 Golf Course 71,416.19 71,416.18 043-010-004-000 10874 HENNESS RD 17,154.00 95,425.00 112,579.00 2 Golf Course 6,220.04 6,220.04 043-010-005-000 NO SITUS AVAILABLE 504,564.00 0.00 504,564.00 2 Undeveloped 174,890.18 120,417.48 043-010-006-000 NO SITUS AVAILABLE 219,800.00 0.00 219,800.00 2 Golf Course 125,295.56 125,295.54 043-010-007-000 NO SITUS AVAILABLE 525,588.00 - 525,588.00 2 Undeveloped 300,066.68 206,605.52 043-010-008-000 11410 HENNESS RD 172,623.00 1,629,746.00 1,802,369.00 2 Golf Course 14,165.51 14,165.50 043-020-003-000 10980 GHIRARD CT 186,060.00 3,300,000.00 3,486,060.00 2 "20,001-22,000" 5,827.24 5,827.24 043-020-006-000 10956 RYLEY CT 423,000.00 0.00 423,000.00 2 "16,001-18,000" 5,463.04 5,463.04 043-020-007-000 10954 RYLEY CT 162,772.00 1,419,090.00 1,581,862.00 2 "20,001-22,000" 5,827.24 5,827.24 043-020-008-000 10952 RYLEY CT 341,632.00 1,629,326.00 1,970,958.00 2 "18,001-20,000" 5,645.14 5,645.14 043-020-009-000 10950 RYLEY CT 157,676.00 1,182,575.00 1,340,251.00 2 "16,001-18,000" 5,463.04 5,463.04 043-020-010-000 10948 RYLEY CT 306,918.00 0.00 306,918.00 2 "16,001-18,000" 5,463.04 5,463.04 043-020-011-000 10946 RYLEY CT 249,690.00 1,484,263.00 1,733,953.00 2 "16,001-18,000" 5,463.04 5,463.04 043-020-012-000 10944 RYLEY CT 248,741.00 0.00 248,741.00 2 "16,001-18,000" 5,463.04 5,463.04 043-020-013-000 10942 RYLEY CT 194,409.00 0.00 194,409.00 2 "16,001-18,000" 5,463.04 5,463.04 043-020-014-000 10940 RYLEY CT 71,012.00 1,530,742.00 1,601,754.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-020-015-000 10940 GHIRARD CT 41,421.00 0.00 41,421.00 2 Exempt 0.00 0.00 043-020-016-000 NO SITUS AVAILABLE 106,040.00 0.00 106,040.00 2 Exempt 0.00 0.00 043-020-017-000 10920 GHIRARD CT 111,929.00 0.00 111,929.00 2 "16,001-18,000" 5,463.04 5,463.04 043-020-018-000 10900 GHIRARD CT 290,145.00 0.00 290,145.00 2 "20,001-22,000" 5,827.24 5,827.24 043-020-019-000 10880 GHIRARD CT 530,703.00 1,768,680.00 2,299,383.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-020-020-000 10860 GHIRARD CT 311,103.00 1,058,179.00 1,369,282.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-020-021-000 10840 GHIRARD CT 321,083.00 1,388,500.00 1,709,583.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-020-022-000 10820 GHIRARD CT 322,524.00 2,216,052.00 2,538,576.00 2 "18,001-20,000" 5,645.14 5,645.14 043-020-023-000 10800 GHIRARD CT 200,301.00 0.00 200,301.00 2 "14,001-16,000" 5,280.94 5,280.94 043-020-024-000 10780 GHIRARD CT 188,515.00 0.00 188,515.00 2 "8,000-12,000" 4,916.74 4,916.72 043-020-025-000 10760 GHIRARD CT 92,352.00 1,987,170.00 2,079,522.00 2 "18,001-20,000" 5,645.14 5,645.14 043-020-026-000 10911 GHIRARD CT 262,793.00 1,800,141.00 2,062,934.00 2 "16,001-18,000" 5,463.04 5,463.04 043-020-027-000 10931 GHIRARD CT 233,140.00 0.00 233,140.00 2 "18,001-20,000" 5,645.14 5,645.14 043-020-028-000 10951 GHIRARD CT 60,358.00 1,026,186.00 1,086,544.00 2 "18,001-20,000" 5,645.14 5,645.14 Willdan Financial Services Page 7 of 10 Page 130 of 231 Truckee Donner PUD Community Facilities District No. 04-1 (Gray's Crossing) Charge Detail Report(Sorted by Assessor's Parcel Number) Assessor's Parcel Situs Address Land Assessed Structure Total Assessed Zone Lot Category Max Tax 2023/24 Total Number Value Assessed Value Value Charge 043-020-029-000 10971 GHIRARD CT 150,899.00 2,162,400.00 2,313,299.00 2 "20,001-22,000" 5,827.24 5,827.24 043-020-030-000 NO SITUS AVAILABLE 158,534.00 1,426,829.00 1,585,363.00 2 "20,000-22,000" 5,827.24 5,827.24 043-030-001-000 11545 HENNESS RD 239,292.00 0.00 239,292.00 2 "16,001-18,000" 5,463.04 5,463.04 043-030-002-000 11539 HENNESS RD 136,536.00 0.00 136,536.00 2 "14,001-16,000" 5,280.94 5,280.94 043-030-003-000 11533 HENNESS RD 394,191.00 1,387,554.00 1,781,745.00 2 "18,001-20,000" 5,645.14 5,645.14 043-030-004-000 11527 HENNESS RD 246,605.00 1,457,121.00 1,703,726.00 2 "20,001-22,000" 5,827.24 5,827.24 043-030-005-000 11521 HENNESS RD 289,073.00 1,434,857.00 1,723,930.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-030-007-000 11497 HENNESS RD 244,494.00 0.00 244,494.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-030-008-000 11475 HENNESS RD 416,160.00 2,044,386.00 2,460,546.00 2 "20,001-22,000" 5,827.24 5,827.24 043-030-009-000 11430 HENNESS RD 251,538.00 1,229,257.00 1,480,795.00 2 "14,001-16,000" 5,280.94 5,280.94 043-030-010-000 11438 HENNESS RD 294,000.00 1,666,000.00 1,960,000.00 2 "14,001-16,000" 5,280.94 5,280.94 043-030-011-000 11446 HENNESS RD 209,545.00 1,988,247.00 2,197,792.00 2 "14,001-16,000" 5,280.94 5,280.94 043-030-012-000 11454 HENNESS RD 183,122.00 1,601,096.00 1,784,218.00 2 "18,001-20,000" 5,645.14 5,645.14 043-030-013-000 11462 HENNESS RD 357,978.00 1,644,198.00 2,002,176.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-030-014-000 11470 HENNESS RD 100,600.00 0.00 100,600.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-030-015-000 11478 HENNESS RD 494,190.00 2,774,321.00 3,268,511.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-030-016-000 11486 HENNESS RD 312,000.00 2,040,000.00 2,352,000.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-030-017-000 11494 HENNESS RD 288,190.00 0.00 288,190.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-030-018-000 11502 HENNESS RD 94,685.00 0.00 94,685.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-030-019-000 11510 HENNESS RD 262,200.00 0.00 262,200.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-030-020-000 11518 HENNESS RD 265,792.00 1,655,605.00 1,921,397.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-030-021-000 11526 HENNESS RD 329,000.00 2,209,000.00 2,538,000.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-030-022-000 11534 HENNESS RD 183,635.00 1,466,905.00 1,650,540.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-030-023-000 11542 HENNESS RD 273,304.00 1,618,814.00 1,892,118.00 2 "20,001-22,000" 5,827.24 5,827.24 043-040-003-000 11687 HENNESS RD 202,070.00 2,850,000.00 3,052,070.00 2 "14,001-16,000" 5,280.94 5,280.94 043-040-004-000 11679 HENNESS RD 264,000.00 2,976,000.00 3,240,000.00 2 "16,001-18,000" 5,463.04 5,463.04 043-040-005-000 11671 HENNESS RD 321,600.00 0.00 321,600.00 2 "16,001-18,000" 5,463.04 5,463.04 043-040-006-000 11667 HENNESS RD 241,244.00 1,099,006.00 1,340,250.00 2 "16,001-18,000" 5,463.04 5,463.04 043-040-007-000 11655 HENNESS RD 329,000.00 2,016,300.00 2,345,300.00 2 "18,001-20,000" 5,645.14 5,645.14 043-040-008-000 11647 HENNESS RD 329,000.00 1,833,000.00 2,162,000.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-040-009-000 11639 HENNESS RD 379,746.00 0.00 379,746.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-040-010-000 11633 HENNESS RD 132,550.00 0.00 132,550.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-040-011-000 11627 HENNESS RD 379,746.00 1,909,134.00 2,288,880.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-040-012-000 11623 HENNESS RD 199,723.00 0.00 199,723.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-040-013-000 11615 HENNESS RD 250,334.00 1,252,223.00 1,502,557.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-040-014-000 11607 HENNESS RD 177,878.00 2,723,400.00 2,901,278.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-040-015-000 11595 HENNESS RD 584,852.00 1,311,271.00 1,896,123.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-040-016-000 11583 HENNESS RD 262,473.00 1,629,532.00 1,892,005.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-040-017-000 11575 HENNESS RD 262,473.00 1,418,456.00 1,680,929.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-040-018-000 11561 HENNESS RD 262,793.00 1,470,597.00 1,733,390.00 2 "20,001-22,000" 5,827.24 5,827.24 043-040-019-000 11553 HENNESS RD 459,000.00 0.00 459,000.00 2 "18,001-20,000" 5,645.14 5,645.14 043-040-020-000 11550 HENNESS RD 215,600.00 0.00 215,600.00 2 "20,001-22,000" 5,827.24 5,827.24 043-040-021-000 11558 HENNESS RD 188,056.00 1,340,006.00 1,528,062.00 2 "18,001-20,000" 5,645.14 5,645.14 043-040-022-000 11566 HENNESS RD 343,000.00 1,764,000.00 2,107,000.00 2 "18,001-20,000" 5,645.14 5,645.14 043-040-023-000 11574 HENNESS RD 260,100.00 1,529,388.00 1,789,488.00 2 "20,001-22,000" 5,827.24 5,827.24 043-040-024-000 11582 HENNESS RD 181,443.00 408,000.00 589,443.00 2 "Greater than 22,000" 6,009.35 6,009.34 Willdan Financial Services Page 8 of 10 Page 131 of 231 Truckee Donner PUD Community Facilities District No. 04-1 (Gray's Crossing) Charge Detail Report(Sorted by Assessor's Parcel Number) Assessor's Parcel Situs Address Land Assessed Structure Total Assessed Zone Lot Category Max Tax 2023/24 Total Number Value Assessed Value Value Charge 043-040-025-000 11590 HENNESS RD 262,793.00 1,024,899.00 1,287,692.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-040-026-000 11598 HENNESS RD 563,297.00 240,043.00 803,340.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-040-027-000 11606 HENNESS RD 249,600.00 1,603,600.00 1,853,200.00 2 "16,001-18,000" 5,463.04 5,463.04 043-040-028-000 11614 HENNESS RD 329,000.00 2,585,000.00 2,914,000.00 2 "16,001-18,000" 5,463.04 5,463.04 043-040-029-000 11622 HENNESS RD 176,362.00 1,268,677.00 1,445,039.00 2 "20,001-22,000" 5,827.24 5,827.24 043-040-030-000 11630 HENNESS RD 248,484.00 1,200,000.00 1,448,484.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-040-031-000 11638 HENNESS RD 213,259.00 1,044,431.00 1,257,690.00 2 "Greater than 22,000" 6,009.35 6,009.34 043-040-032-000 11646 HENNESS RD 94,685.00 0.00 94,685.00 2 "18,001-20,000" 5,645.14 5,645.14 043-040-033-000 11654 HENNESS RD 218,234.00 2,407,200.00 2,625,434.00 2 "16,001-18,000" 5,463.04 5,463.04 043-040-034-000 11662 HENNESS RD 329,000.00 2,674,300.00 3,003,300.00 2 "14,001-16,000" 5,280.94 5,280.94 043-050-002-000 10251 ANNIES LP 96,498.00 745,179.00 841,677.00 2 Condo 2,622.26 2,622.26 043-050-003-000 10249 ANNIES LP 100,394.00 652,576.00 752,970.00 2 Condo 2,622.26 2,622.26 043-050-004-000 10247 ANNIES LP 88,434.00 785,631.00 874,065.00 2 Condo 2,622.26 2,622.26 043-050-005-000 10239 ANNIES LP 96,498.00 820,233.00 916,731.00 2 Condo 2,622.26 2,622.26 043-050-007-000 10235 ANNIES LP 96,498.00 841,677.00 938,175.00 2 Condo 2,622.26 2,622.26 043-050-008-000 10229 ANNIES LP 104,040.00 884,340.00 988,380.00 2 Condo 2,622.26 2,622.26 043-050-009-000 10227 ANNIES LP 98,427.00 884,758.00 983,185.00 2 Condo 2,622.26 2,622.26 043-050-011-000 10215 ANNIES LP 104,040.00 863,532.00 967,572.00 2 Condo 2,622.26 2,622.26 043-050-012-000 10213 ANNIES LP 88,365.00 553,778.00 642,143.00 2 Condo 2,622.26 2,622.26 043-050-013-000 10211 ANNIES LP 36,214.00 700,219.00 736,433.00 2 Condo 2,622.26 2,622.26 043-050-014-000 10201 ANNIES LP 104,040.00 795,906.00 899,946.00 2 Condo 2,622.26 2,622.26 043-050-015-000 10199 ANNIES LP 129,285.00 1,447,992.00 1,577,277.00 2 Condo 2,622.26 2,622.26 043-050-017-000 10189 ANNIES LP 117,941.00 798,789.00 916,730.00 2 Condo 2,622.26 2,622.26 043-050-018-000 10187 ANNIES LP 376,000.00 963,500.00 1,339,500.00 2 Condo 2,622.26 2,622.26 043-050-019-000 10175 ANNIES LP 88,434.00 879,138.00 967,572.00 2 Condo 2,622.26 2,622.26 043-050-020-000 10173 ANNIES LP 305,500.00 1,057,500.00 1,363,000.00 2 Condo 2,622.26 2,622.26 043-050-024-000 NO SITUS AVAILABLE 0.00 0.00 0.00 Exempt 0.00 0.00 043-050-025-000 10222 EDWIN WAY 95,052.00 0.00 95,052.00 2 Undeveloped 7,393.32 5,090.52 043-050-026-000 10202 EDWIN WAY 95,052.00 0.00 95,052.00 2 Undeveloped 12,747.10 8,776.78 043-050-027-000 10204 EDWIN WAY 95,052.00 0.00 95,052.00 2 Undeveloped 11,472.39 7,899.10 043-060-009-000 10151 EDWIN WAY 136,931.00 0.00 136,931.00 2 Undeveloped 14,276.75 9,829.98 043-060-010-000 10105 EDWIN WAY 136,931.00 0.00 136,931.00 2 Undeveloped 8,668.03 5,968.20 043-060-011-000 10162 EDWIN WAY 748,193.00 0.00 748,193.00 2 Undeveloped 87,190.15 60,033.20 043-060-012-000 10073 EDWIN WAY 0.00 0.00 0.00 2 Exempt 0.00 0.00 043-060-013-000 NO SITUS AVAILABLE 0.00 0.00 0.00 2 Exempt 0.00 0.00 043-060-014-000 10131 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 3,059.30 2,106.42 043-060-015-000 10125 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 3,314.25 2,281.96 043-060-016-000 10117 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 3,314.25 2,281.96 043-060-017-000 10109 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 5,098.84 3,510.70 043-060-018-000 10097 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 3,059.30 2,106.42 043-060-019-000 10089 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 4,079.07 2,808.56 043-060-020-000 10085 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 4,079.07 2,808.56 043-060-021-000 10077 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 4,334.01 2,984.10 043-060-022-000 10069 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 3,314.25 2,281.96 043-060-023-000 10061 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 3,569.19 2,457.48 043-060-024-000 10076 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 3,824.13 2,633.02 Willdan Financial Services Page 9 of 10 Page 132 of 231 Truckee Donner PUD Community Facilities District No. 04-1 (Gray's Crossing) Charge Detail Report(Sorted by Assessor's Parcel Number) Assessor's Parcel Situs Address Land Assessed Structure Total Assessed Zone Lot Category Max Tax 2023/24 Total Number Value Assessed Value Value Charge 043-060-025-000 10084 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 3,569.19 2,457.48 043-060-026-000 10096 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 2,549.42 1,755.34 043-060-027-000 10102 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 2,549.42 1,755.34 043-070-003-000 11768 HENNESS RD 169,909.00 0.00 169,909.00 2 Undeveloped 15,041.58 10,356.60 043-070-008-000 10036 EDWIN WAY 321,600.00 0.00 321,600.00 2 Undeveloped 10,197.68 7,021.42 043-070-009-000 10020 EDWIN WAY 0.00 0.00 0.00 2 Exempt 0.00 0.00 043-070-010-000 10012 EDWIN WAY 242,808.00 0.00 242,808.00 2 Undeveloped 25,239.25 17,378.02 043-070-011-000 10003 EDWIN WAY 0.00 0.00 0.00 2 Exempt 0.00 0.00 043-070-012-000 10053 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 2,549.42 1,755.34 043-070-013-000 10047 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 2,294.48 1,579.82 043-070-014-000 10041 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 4,079.07 2,808.56 043-070-015-000 10033 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 3,824.13 2,633.02 043-070-016-000 10027 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 3,059.30 2,106.42 043-070-017-000 10019 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 3,824.13 2,633.02 043-070-018-000 10026 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 3,314.25 2,281.96 043-070-019-000 10038 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 2,549.42 1,755.34 043-070-020-000 10046 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 2,294.48 1,579.82 043-070-021-000 10054 JAKES WAY 100,800.00 0.00 100,800.00 2 Undeveloped 2,549.42 1,755.34 Total: $85,078,749.00 $356,813,426.00 $441,892,175.00 $3,382,715.52 $3,032,769.68 Total Charged Parcels: 425 Total Parcels: 432 Willdan Financial Services Page 10 of 10 Page 133 of 231 "O W I LLDAN EXHIBIT B TRUCKEE DONNER PUD COMMUNITY FACILITIES DISTRICT NO. 04-1 (GRAYS CROSSING) Boundary Diagram Page 134 of 231 It]ENTTFICATLON OF TAX ZONES FOR Y PROPOSED COMMUNITY FAMITIES U5TRICT NO. 04 1 v (GRAYS CROS5INS) ;ITE iRUCkEE bOf&! ER PUBLIC UTILITY DISTRICT re COUNTY OF NEVAbA 3 STAI1E OF CALIFO A kU . - Rd1p�E V7=Lx1%r�TY NEAP � � w os 1 4 r 4 t I 1 AEc I ti I � l ti 1 � 1 ti n-.xo- I U C LEC7ENC, x.* + RS-X(Singh FamibtResiduTtial] t RM((Multi-Fan:Y idcrrtial] CN(Naighborhacd CommercFal) 0 RAC{Re.crenticn} �_— ZONF 1 FARFrEE � 70NE 2 RLAKMNE d ; EEbb EMYMECU'16.INC. 1i LIT 6 W. SYITC 31 90 YJ11CT. 6 mgi ImOO onvoe rwal IIOAG 9lInC 3es, rlaloree,ew aa,el SHEt�- OF l Page 135 of 231 "O W I LLDAN EXHIBIT C TRUCKEE DONNER PUD COMMUNITY FACILITIES DISTRICT NO. 04-1 (GRAYS CROSSING) Delinquency Summary Page 136 of 231 DELINQUENCY SUMMARY BY DISTRICT Truckee Donner PUD Community Facilities District No. 04-1 (Gray's Crossing) DUE DOLLARS . • DOLLARS DELINQUENTDATE LEVIED DELINQUENT LEVIED DELINQUENT DATE 2009/10-1 $1,119,963.85 $38,366.44 3.43% 416 3 09/25/2023 2009/10-2 $1,119,963.85 $38,366.44 3.43% 416 3 09/25/2023 2010/11-1 $1,165,181.90 $202,912.48 17.41% 416 3 09/25/2023 2010/11-2 $1,165,181.90 $202,912.48 17.41% 416 3 09/25/2023 2011/12-1 $1,195,150.68 $211,675.49 17.71% 416 3 09/25/2023 2011/12-2 $1,195,150.68 $211,675.49 17.71% 416 3 09/25/2023 2012/13-1 $1,236,735.78 $228,393.70 18.47% 416 3 09/25/2023 2012/13-2 $1,236,735.78 $228,393.70 18.47% 416 3 09/25/2023 2013/14-1 $1,264,729.82 $235,262.73 18.60% 416 3 09/25/2023 2013/14-2 $1,264,729.82 $235,262.73 18.60% 416 3 09/25/2023 2014/15-1 $1,284,580.98 $236,125.03 18.38% 416 3 09/25/2023 2014/15-2 $1,284,580.98 $236,125.03 18.38% 416 3 09/25/2023 2015/16-1 $1,299,558.24 $235,092.91 18.09% 415 3 09/25/2023 2015/16-2 $1,299,558.24 $235,092.91 18.09% 415 3 09/25/2023 2016/17-1 $1,319,863.48 $238,534.36 18.07% 413 3 09/25/2023 2016/17-2 $1,319,863.48 $238,534.36 18.07% 413 3 09/25/2023 2017/18-1 $1,241,081.09 $161,671.77 13.03% 413 3 09/25/2023 2017/18-2 $1,241,081.09 $161,671.77 13.03% 413 3 09/25/2023 2018/19-1 $1,252,842.07 $160,968.00 12.85% 408 3 09/25/2023 2018/19-2 $1,252,842.07 $160,968.00 12.85% 408 3 09/25/2023 2019/20-1 $1,289,656.10 $57,672.01 4.47% 407 2 09/25/2023 2019/20-2 $1,289,656.10 $164,656.86 12.77% 407 6 09/25/2023 2020/21-1 $1,302,711.62 $174,200.91 13.37% 407 5 09/25/2023 2020/21-2 $1,302,711.62 $176,328.72 13.54% 407 6 09/25/2023 2021/22-1 $1,327,863.06 $171,699.18 12.93% 407 3 09/25/2023 2021/22-2 $1,327,863.06 $175,969.91 13.25% 407 5 09/25/2023 2022/23-1 $1,466,825.70 $278,316.50 18.97% 426 7 09/25/2023 2022/23-2 $1,466,825.70 $283,850.95 19.35% 426 8 09/25/2023 TOTAL $35,533,488.74 $5,380,700.86 15.14% PPa f e 17 of 231 "O W I LLDAN EXHIBIT D TRUCKEE DONNER PUD CFD 04-1 (GRAYS CROSSING SERIES 2004 AND SERIES 2005 Debt Service Schedules Page 138 of 231 Truckee Donner PUD Community Facilities District No.04-1 (Gray's Crossing) REVISED DEBT SERVICE SCHEDULE Dated Date: 9/14/2004 First Coupon: 3/1/2005 First Maturity: 9/1/2007 Payment Due Interest Bond Call Called Amount Principal Due Interest Due Semi-Annual Total Annual Rate Payment 3/1/2005 $403,724.82 $403,724.82 9/1/2005 3.25000% 0.00 435,152.50 435,152.50 838,877.32 3/1/2006 435,152.50 435,152.50 9/1/2006 3.25000% 0.00 435,152.50 435,152.50 870,305.00 3/1/2007 435,152.50 435,152.50 9/1/2007 3.25000% 15,000.00 435,152.50 450,152.50 885,305.00 3/1/2008 434,908.75 434,908.75 9/1/2008 3.50000% 35,000.00 434,908.75 469,908.75 904,817.50 3/1/2009 434,296.25 434,296.25 9/1/2009 3.90000% 50,000.00 434,296.25 484,296.25 918,592.50 3/1/2010 433,321.25 433,321.25 9/1/2010 4.15000% 70,000.00 433,321.25 503,321.25 936,642.50 3/1/2011 431,868.75 431,868.75 9/1/2011 4.35000% 95,000.00 431,868.75 526,868.75 958,737.50 3/1/2012 429,802.50 429,802.50 9/1/2012 4.65000% 115,000.00 429,802.50 544,802.50 974,605.00 3/1/2013 427,128.75 427,128.75 9/1/2013 4.75000% 140,000.00 427,128.75 567,128.75 994,257.50 3/1/2014 423,803.75 423,803.75 9/1/2014 4.90000% 170,000.00 423,803.75 593,803.75 1,017,607.50 3/1/2015 419,638.75 419,638.75 9/1/2015 5.00000% 200,000.00 419,638.75 619,638.75 1,039,277.50 3/1/2016 20,000.00 414,638.75 434,638.75 9/1/2016 5.10000% 230,000.00 414,058.75 644,058.75 1,078,697.50 3/1/2017 408,193.75 408,193.75 9/1/2017 5.20000% 260,000.00 408,193.75 668,193.75 1,076,387.50 3/1/2018 45,000.00 401,433.75 446,433.75 9/1/2018 5.30000% 295,000.00 400,137.50 695,137.50 1,141,571.25 3/1/2019 30,000.00 392,320.00 422,320.00 9/1/2019 5.40000% 25,000.00 335,000.00 391,451.25 751,451.25 1,173,771.25 3/1/2020 381,683.75 381,683.75 9/1/2020 5.50000% 375,000.00 381,683.75 756,683.75 1,138,367.50 3/1/2021 371,371.25 371,371.25 9/1/2021 5.60000% 420,000.00 371,371.25 791,371.25 1,162,742.50 3/1/2022 359,611.25 359,611.25 9/1/2022 5.70000% 465,000.00 359,611.25 824,611.25 1,184,222.50 3/1/2023 346,358.75 346,358.75 9/1/2023 5.75000% 20,000.00 10,000.00 505,000.00 346,358.75 871,358.75 1,217,717.50 3/1/2024 331,262.50 331,262.50 9/1/2024 5.75000% 10,000.00 560,000.00 331,262.50 891,262.50 1,222,525.00 3/1/2025 315,162.50 315,162.50 9/1/2025 5.75000% 5,000.00 620,000.00 315,162.50 935,162.50 1,250,325.00 3/1/2026 297,337.50 297,337.50 9/1/2026 5.75000% 5,000.00 685,000.00 297,337.50 982,337.50 1,279,675.00 3/1/2027 277,643.75 277,643.75 9/1/2027 5.75000% 10,000.00 745,000.00 277,643.75 1,022,643.75 1,300,287.50 3/1/2028 256,225.00 256,225.00 9/1/2028 5.75000% 10,000.00 815,000.00 256,225.00 1,071,225.00 1,327,450.00 3/1/2029 232,793.75 232,793.75 9/1/2029 5.75000% 10,000.00 885,000.00 232,793.75 1,117,793.75 1,350,587.50 3/1/2030 207,350.00 207,350.00 9/1/2030 5.80000% 10,000.00 965,000.00 207,350.00 1,172,350.00 1,379,700.00 3/1/2031 179,365.00 179,365.00 9/1/2031 5.80000% 10,000.00 1,050,000.00 179,365.00 1,229,365.00 1,408,730.00 3/1/2032 148,915.00 148,915.00 9/1/2032 5.80000% 15,000.00 1,135,000.00 148,915.00 1,283,915.00 1,432,830.00 3/1/2033 116,000.00 116,000.00 9/1/2033 5.80000% 15,000.00 1,230,000.00 116,000.00 1,346,000.00 1,462,000.00 3/1/2034 80,330.00 80,330.00 9/1/2034 5.80000% 25,000.00 1,320,000.00 80,330.00 1,400,330.00 1,480,660.00 3/1/2035 42,050.00 42,050.00 9/1/2035 5.80000% 5,000.00 1,450,000.00 42,050.00 1,492,050.00 1,534,100.00 Outstanding Principal $11,460,000.00 Matured Principal 3,775,000.00 Called Principal 140,000.00 Total Bond Issue $15,375,000.00 Willdan Financial Services Page 1 of 1 Page 139 of 231 Truckee Donner PUD Community Facilities District No. 04-1 (Gray's Crossing) REVISED DEBT SERVICE SCHEDULE Dated Date: 7/13/2005 First Coupon: 9/1/2005 First Maturity: 9/1/2007 Payment Due Interest Bond Call Called Amount Principal Due Interest Due Semi-Annual Total Annual Rate Payment 9/1/2005 3.50000% $0.00 $131,191.33 $131,191.33 $131,191.33 3/1/2006 491,967.50 491,967.50 9/1/2006 3.50000% 0.00 491,967.50 491,967.50 983,935.00 3/1/2007 491,967.50 491,967.50 9/1/2007 3.50000% 50,000.00 491,967.50 541,967.50 1,033,935.00 3/1/2008 491,092.50 491,092.50 9/1/2008 3.62500% 70,000.00 491,092.50 561,092.50 1,052,185.00 3/1/2009 489,823.75 489,823.75 9/1/2009 3.75000% 100,000.00 489,823.75 589,823.75 1,079,647.50 3/1/2010 487,948.75 487,948.75 9/1/2010 4.00000% 125,000.00 487,948.75 612,948.75 1,100,897.50 3/1/2011 485,448.75 485,448.75 9/1/2011 4.00000% 150,000.00 485,448.75 635,448.75 1,120,897.50 3/1/2012 482,448.75 482,448.75 9/1/2012 4.12500% 180,000.00 482,448.75 662,448.75 1,144,897.50 3/1/2013 478,736.25 478,736.25 9/1/2013 4.25000% 210,000.00 478,736.25 688,736.25 1,167,472.50 3/1/2014 474,273.75 474,273.75 9/1/2014 4.37500% 240,000.00 474,273.75 714,273.75 1,188,547.50 3/1/2015 469,023.75 469,023.75 9/1/2015 4.50000% 275,000.00 469,023.75 744,023.75 1,213,047.50 3/1/2016 25,000.00 462,836.25 487,836.25 9/1/2016 4.62500% 310,000.00 462,173.75 772,173.75 1,260,010.00 3/1/2017 455,005.00 455,005.00 9/1/2017 4.75000% 355,000.00 455,005.00 810,005.00 1,265,010.00 3/1/2018 55,000.00 446,573.75 501,573.75 9/1/2018 4.75000% 395,000.00 445,132.50 840,132.50 1,341,706.25 3/1/2019 40,000.00 435,751.25 475,751.25 9/1/2019 4.87500% 35,000.00 440,000.00 434,697.50 909,697.50 1,385,448.75 3/1/2020 423,052.50 423,052.50 9/1/2020 5.00000% 485,000.00 423,052.50 908,052.50 1,331,105.00 3/1/2021 410,927.50 410,927.50 9/1/2021 5.20000% 5,000.00 530,000.00 410,927.50 940,927.50 1,351,855.00 3/1/2022 397,147.50 397,147.50 9/1/2022 5.20000% 10,000.00 585,000.00 397,147.50 982,147.50 1,379,295.00 3/1/2023 381,937.50 381,937.50 9/1/2023 5.20000% 25,000.00 5,000.00 645,000.00 381,937.50 1,051,937.50 1,433,875.00 3/1/2024 364,507.50 364,507.50 9/1/2024 5.20000% 5,000.00 710,000.00 364,507.50 1,074,507.50 1,439,015.00 3/1/2025 346,047.50 346,047.50 9/1/2025 5.20000% 10,000.00 770,000.00 346,047.50 1,116,047.50 1,462,095.00 3/1/2026 326,027.50 326,027.50 9/1/2026 5.25000% 10,000.00 840,000.00 326,027.50 1,166,027.50 1,492,055.00 3/1/2027 303,977.50 303,977.50 9/1/2027 5.25000% 10,000.00 915,000.00 303,977.50 1,218,977.50 1,522,955.00 3/1/2028 279,958.75 279,958.75 9/1/2028 5.25000% 10,000.00 995,000.00 279,958.75 1,274,958.75 1,554,917.50 3/1/2029 253,840.00 253,840.00 9/1/2029 5.25000% 15,000.00 1,075,000.00 253,840.00 1,328,840.00 1,582,680.00 3/1/2030 225,621.25 225,621.25 9/1/2030 5.25000% 15,000.00 1,165,000.00 225,621.25 1,390,621.25 1,616,242.50 3/1/2031 195,040.00 195,040.00 9/1/2031 5.30000% 15,000.00 1,260,000.00 195,040.00 1,455,040.00 1,650,080.00 3/1/2032 161,650.00 161,650.00 9/1/2032 5.30000% 15,000.00 1,360,000.00 161,650.00 1,521,650.00 1,683,300.00 3/1/2033 125,610.00 125,610.00 9/1/2033 5.30000% 15,000.00 1,465,000.00 125,610.00 1,590,610.00 1,716,220.00 3/1/2034 86,787.50 86,787.50 9/1/2034 5.30000% 30,000.00 1,570,000.00 86,787.50 1,656,787.50 1,743,575.00 3/1/2035 45,182.50 45,182.50 9/1/2035 5.30000% 10,000.00 1,705,000.00 45,182.50 1,750,182.50 1,795,365.00 Outstanding Principal $13,830,000.00 Matured Principal 5,145,000.00 Called Principal 180,000.00 Total Bond Issue $19,155,000.00 Willdan Financial Services Page 1 of 1 Page 140 of 231 1IY W l LLDAN EXHIBIT E TRUCKEE DONNER PUD COMMUNITY FACILITIES DISTRICT NO. 04-1 (GRAYS CROSSING Rate and Method of Apportionment of Special Tax Page 141 of 231 APPENDIX A RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX A Special Tax applicable to each Assessor's Parcel in the Truckee Donner Public Utility District Community Facilities District No.04-1 (Gray's Crossing) [herein"CFD No. 04-I"]shall be levied and collected according to the tax liability determined by the Board of Directors or its designee,through the application of the appropriate amount or rate for Taxable Property, as described below. All of the property in CFD No. 04-1, unless exempted by law or by the provisions of Section G below, shall be taxed for the purposes, to the extent, and in the manner herein provided,including property subsequently annexed to the CFD unless a separate Rate and Method of Apportionment is adopted for the annexation area. A. DEFINITIONS The terms hereinafter set forth have the following meanings: "Acre"or"Acreage"means the land area of an Assessor's Parcel as shown on an Assessor's Parcel Map,or if the land area is not shown on an Assessor's Parcel Map,the land area shown on the applicable Final Map or other parcel map recorded with the County. "Act"means the Mello-Roos Community Facilities Act of 1982,as amended,being Chapter 2.5,(commencing with Section 53311),Division 2 of Title 5 of the California Government Code. "Administrative Expenses"means any or all of the following: the fees and expenses of any fiscal agent or trustee (including any fees or expenses of its counsel) employed in connection with any Bonds, and the expenses of the TDPUD carrying out its duties with respect to CFD No. 04-1 and the Bonds, including,but not limited to, levying and collecting the Special Tax, the fees and expenses of legal counsel, charges levied by the County Auditor's Office, Tax Collector's Office, and/or Treasurer's Office, costs related to annexing property into the CFD, costs related to property owner inquiries regarding the Special Tax, amounts needed to pay rebate to the federal government with respect to the Bonds,costs associated with complying with any continuing disclosure requirements for the Bonds and the Special Tax, and all other costs and expenses of the TDPUD in any way related to the establishment or administration of the CFD. "Administrator" means the person or firm designated by the TDPUD to administer the Special Tax according to this Rate and Method of Apportionment of Special Tax. "Affordable Unit" means any Unit within CFD No. 04-1 which is subject to(i)a deed-restricted cap limiting the appreciation that can be realized by the owner of the Unit for thirty (30)years, or(ii)another such deed restriction that replaces the 30-year appreciation cap in future years. In the Fiscal Year after the Fiscal Year in which the deed- restriction on an Affordable Unit expires, such Unit shall be taxed as Single Family Detached Property or Single Family Attached Property,as applicable. "Assessor's Parcel"or"Parcel"means a lot or parcel,including an airspace parcel for a condominium unit or Loft Unit,shown on an Assessor's Parcel Map with an assigned Assessor's Parcel number. "Assessor's Parcel Map" means an official map of the County Assessor designating parcels by Assessor's Parcel number. "Association Property"means any property within the CFD that is owned by a homeowners association,excluding such property under the pad or footprint of a Unit. Association Property shall also include property designated as open space in a recorded Final Map whether or not such property has yet been dedicated to a homeowners association,public agency,or private land trust. "Board of Directors"or`Board"means the Board of Directors of the TDPUD. A-I Page 142 of 231 "Bonds" means bonds or other debt (as defined in the Act), whether in one or more series, issued, insured or assumed by CFD No. 04-1 related to public infrastructure and/or improvements that are authorized to be funded by CFD No.04-1. "Building Square Footage" means the total gross square footage of the floor area of a non-residential building determined by calculating the combined floor area contained within the building's exterior walls including the area of an addition where floor area is increased. Parking areas and exterior walkways shall not be included in the calculation of Building Square Footage. "Capitalized Interest"means funds in any capitalized interest account available to pay debt service on Bonds. "Center for the Arts Property"means the property on which a building permit has been issued for construction of the "Center for the Arts" required pursuant to the Development Agreement, subject to the limitation set forth in Section G below. "CFD Formation"means the date on which the Resolution of Formation to form CFD No.04-1 was adopted by the Board of Directors. "Church Property"means,in any Fiscal Year,any Parcel in CFD 04-1 that meets both of the following criteria: (i) the Parcel is owned by a religious organization which is exempt from ad valorem property tax, and (ii) a building permit has been issued for construction of a building on the Parcel that will be used solely as a place of worship. The amount of Church Property within the CFD shall be subject to the limitation set forth in Section G below. "County"means the County of Nevada. "Developed Property"means,in any Fiscal Year,the following: • for Single Family Detached Property, all parcels for which a Final Map was recorded prior to May I of the preceding Fiscal Year • for Single Family Attached Property, all parcels for which a building permit for new construction of a residential structure was issued prior to May 1 of the preceding Fiscal Year • for Golf Course Property, all Parcels that make up the Golf Course Property if the certificate of occupancy for the proshop or clubhouse associated with the golf course was issued at least twenty- four(24)months in advance of May 1 of the preceding Fiscal Year • for Non-Residential Property, all parcels for which a building permit for new construction of a non-residential structure (which may include Loft Units) was issued prior to May 1 of the preceding Fiscal Year "Development Agreement" means the Development Agreement executed between the Town and Gray's Crossing LLC on March 25,2004. "Excess Public Property" means the acres of Public Property that exceed the acreage exempted in Section G below. In any Fiscal Year in which a Special Tax must be levied on Excess Public Property pursuant to Step 5 in Section E below, Excess Public Property shall be those Assessor's Parcel(s) that most recently became Public Property based on the dates on which Final Maps recorded creating such Public Property or, if an Assessor's Parcel became Public Property other than through a Final Map,as determined by the Administrator. "Expected Affordable Units" means a total of 36 Units within CFD No. 04-1 that are expected to be Affordable Units. If, in any Fiscal Year, the Administrator identifies a total number of Affordable Units within CFD No. 04-1 that exceeds 36 Units, only the first 36 Units for which building permits were 'issued shall remain exempt from the Special Tax pursuant to Section G below. Affordable Units for which permits are issued after building permits for the 36 Expected Affordable Units have been issued shall be taxed as follows: (i)based on the size of the lot if the A-2 Page 143 of 231 Unit is Single Family Detached Property, as Single Family Attached Property if the Unit meets the definition set forth for such property below,or(iii)as a Loft Unit if the Unit is Iocated above a retail establishment. "Expected Land Uses"means the total number of Units and size of SFD Lots expected to be constructed within the CFD as determined from time to time by the Administrator after applying the steps in Section D below. At CFD Formation,the Expected Land Uses were those expected to be reflected in the Tentative Map. The Expected Land Uses at CFD Formation are summarized in Attachment 1 hereto;the Administrator shall update Attachments 1 and 2 each time a change occurs to the land use plans for property in the CFD. "Expected Maximum Special Tax Revenues"means the amount of annual revenue that would be available if the Maximum Special Tax was levied on the Expected Land Uses. The Expected Maximum Special Tax Revenues as of CFD Formation are shown in Attachment I of this Rate and Method of Apportionment of Special Tax. "Final Bond Sale" means the last series of Bonds that will be issued on behalf of CFD No. 04-1 (excluding any Bond refundings),as determined in the sole discretion of the TDPUD. "Final Map"means a final map, or portion thereof, recorded by the County pursuant to the Subdivision Map Act (California Government Code Section 66410 et seq.) that creates individual lots on which building permits for new construction may be issued without further subdivision and for which no further subdivision is anticipated pursuant to the Tentative Map. "Fiscal Year"means the period starting July 1 and ending on the following June 30. "Fitness Facility Property"means any Assessor's Parcels within the CFD that meets both of the following criteria (i)a building permit has been issued for construction of a swim or fitness facility on the Parcel,and(ii)based on the size of the Parcel,no other buildings can be constructed on the Parcel. "Fractional Unit" means a single family detached unit or a single family attached unit for which multiple owners may each purchase a fractional share of ownership(also referred to as a timeshare unit by the California Department of Real Estate). "Golf Course Property"means any property within CFD No. 04-1 that is used as a golf course, including but not limited to, a driving range, clubhouse, pro shop, parking, outbuildings, and other golf-related amenities. Golf Course Property shall also include any property within the CFD that is used or expected to be used for a swim and/or fitness facility if such facility is located on the same Assessor's Parcel as the clubhouse, pro shop or other golf- related buildings. "Lodging Unit"means a unit that is(i)offered for rent to the general public on an overnight or limited stay basis,as defined in the Development Agreement, and (ii) constructed within the geographic area labeled Neighborhood Commercial in Attachment 2. If Fractional Units are built within the Neighborhood Commercial area,all such units shall be taxed at the same rate as other Units of Single Family Attached Property within the CFD. "Loft Unit" means a residential Unit located above and attached to a commercial establishment, which shall not under any circumstance include a residential Unit within which the owner of such Unit operates an at-home business operation. "Maximum Special Tax"means the greatest amount of Special Tax that can be levied on an Assessor's Parcel in any Fiscal Year determined in accordance with Section C below,as may be adjusted pursuant to Step 3 in Section D below. "Non-Residential Property" means, in any Fiscal Year, all Parcels of Taxable Property which are not Single Family Detached Property, Single Family Attached Property, Golf Course Property, Loft Units, Association Property, Excess Public Property, or Undeveloped Property. As discussed below, Loft Units shall be taxed separately from the non-residential Building Square Footage on the Parcel. A-3 Page 144 of 231 "Proportionately"means,for Developed Property,that the ratio of the actual Special Tax levied in any Fiscal Year to the Maximum Special Tax authorized to be levied in that Fiscal Year is equal for all Assessor's Parcels of Developed Property,and for Undeveloped Property that the ratio of the actual Special Tax to the Maximum Special Tax is equal for all Assessor's Parcels of Undeveloped Property. "Public Property" means any property within the boundaries of CFD No. 04-1 that is owned by the federal government,the State of California,the County,the Town,the TDPUD,or other public agency. "Rental Property" means, in any Fiscal Year, all Parcels within the CFD for which a building permit was issued for construction of a residential structure with multiple Units that share common walls, all of which are offered or are expected to be offered for rent to the general public and/or employees. Fractional Units and Loft Units within the CFD shall at no time be categorized as Rental Property. Lodging Units shall also be categorized as Rental Property for purposes of this Rate and Method of Apportionment of Special Tax. "SFD Lot" means an individual residential lot, identified and numbered on a recorded Final Map, on which a building permit has been or is permitted to be issued for construction of a single family detached unit without further subdivision of the lot and for which no further subdivision of the lot is anticipated pursuant to the Tentative Map. "Single Family Attached Property" means, in any Fiscal Year, all Parcels of Developed Property for which a building permit was issued for construction of a residential structure consisting of two or more Units that share common walls and are offered or expected to be offered as for-sale units, including, but not limited to, such residential structures that meet that statutory definition of a condominium contained in Civil Code Section 1351. "Single Family Detached Property" means, in any Fiscal Year, all Parcels of Developed Property for which a building permit was issued or is permitted to be issued for constriction of a Unit that does not share a common wall with another Unit,including detached Fractional Units. "Special Tax"means a Special Tax levied in any Fiscal Year to pay the Special Tax Requirement. "Special Tax Requirement" means the amount necessary in any Fiscal Year to: (i) pay principal and interest on Bonds which is due in the calendar year that begins in such Fiscal Year;(ii)create and/or replenish reserve funds for the Bonds; (iii)cure any delinquencies in the payment of principal or interest on Bonds which have occurred in the prior Fiscal Year or,based on existing delinquencies in the payment of Special Taxes, are expected to occur in the Fiscal Year in which the tax will be collected; (iv)pay Administrative Expenses; and (v) pay the costs of public improvements and public infrastructure authorized to be financed by CFD No. 04-1. The amounts referred to in clauses (i) and (ii) of the preceding sentence may be reduced in any Fiscal Year by: (i) interest earnings on or surplus balances in funds and accounts for the Bonds to the extent that such earnings or balances are available to apply against debt service pursuant to a Bond indenture, Bond resolution, or other legal document that sets forth these terms; (ii) proceeds received by CFD No. 04-1 from the collection of penalties associated with delinquent Special Taxes; and (iii) any other revenues available to pay debt service on the Bonds as determined by the Administrator. "Taxable Property" means all of the Assessor's Parcels within the boundaries of CFD No. 04-1 which are not exempt from the Special Tax pursuant to law or Section G below. "Tax Zone"means one of the two mutually exclusive geographic areas defined below and identified in Attachment 2 of this Rate and Method of Apportionment of Special Tax, and any subsequent Tax Zones created to contain property annexed into the CFD after CFD Formation. "Tax Zone#V means the geographic area that is specifically identified in Attachment 2 of this Rate and Method of Apportionment of Special Tax as Tax Zone#1. "Tax Zone#2"means the geographic area that is specifically identified in Attachment 2 of this Rate and Method of Apportionment of Special Tax as Tax Zone#2. "TDPUD"means the Truckee Donner Public Utility District. A-4 Page 145 of 231 "Tentative Map"means the tentative subdivision map for the Gray's Crossing Planned Development approved by the Town on February 5,2004. "Town"means the incorporated Town of Truckee. "Undeveloped Property" means, in any Fiscal Year, all Parcels of Taxable Property within the CFD that are not Developed Property. "Unit"means(i)for Single Family Detached Property,an individual single-family detached unit, (ii)an individual Loft Unit, and (iii) for Single Family Attached Property, an individual residential unit within a duplex, triplex, fourplex,townhome,or condominium structure. B. DATA FOR ANNUAL ADMINISTRATION On or about July I of each Fiscal Year,the Administrator shall identify the current Assessor's Parcel numbers for all Parcels of Taxable Property. The Administrator shall also determine: (i)whether each Assessor's Parcel of Taxable Property is Developed Property or Undeveloped Property, (ii) for Developed Property, which Parcels are Single Family Detached Property, Single Family Attached Property,Loft Units,Golf Course Property and Non-Residential Property, (iii)for Parcels of Single Family Attached Property, the number of Units on each Parcel, (iv) for Single Family Detached Property, the size of each residential lot within Final Maps that have been recorded, (v) whether there are Parcels of Rental Property,Excess Public Property, or Parcels with Affordable Units, and(vi)the Special Tax Requirement. For Single Family Attached Property, the number of Units shall be determined by referencing the site plan, condominium plan, or other development plan. For Non-Residential Property that includes Loft Units, the Administrator shall reference the condominium map or other such development plan to determine the Building Square Footage, or if such map or plan is not available, the Administrator shall determine the Building Square Footage associated with the Loft Units and subtract the square footage thereof from the total Building Square Footage to determine the square footage that will be subject to the Maximum Special Tax for Non-Residential Property. If,in any Fiscal Year,an Assessor's Parcel includes both Developed Property and Undeveloped Property, the Administrator shall determine the Acreage associated with the Developed Property, subtract this Acreage from the total Acreage of the Assessor's Parcel, and use the remaining Acreage to calculate the Special Tax that will apply to Undeveloped Property within the Assessor's Parcel. In addition,the Administrator shall,on an ongoing basis,monitor whether changes in land use have been proposed that will affect the Expected Land Uses and whether Final Maps that have been proposed for approval by the Town are consistent with the Expected Land Uses. If changes to the Expected Land Uses are proposed,the Administrator shall apply the steps set forth in Section D below. C. MAXIMUM SPECIAL TAX L Single Family Detached Property The Maximum Special Tax for Single Family Detached Property for Fiscal Year 2004-05 is shown in Table I below: A-5 Page 146 of 231 TABLE 1 TDPUD CFD No.2004-1 Maximum Special Tax for Single Family Detached Property Maximum Special Tax in Maximum Special Tax Tax Zone#1 in Tax Zone#2 Type of Propert y Lot Size Fiscal Year 2004-05 * Fiscal Year 2004-05 Single Family Greater than $3,300 per $4,125 per Detached Property. 22,000 square feet SFD Lot SFD Lot Single Family 20,001 to 22,000 $3,200 per $4,000 per Detached Property___._ s uare feet SFD Lot SFD Lot Single Family 18,001 to 20,000 $3,100 per $3,875 per Detached Property square feet SFD Lot SFD Lot Single Family 16,001 to 18,000 $3,000 per $3,750 per Detached Property square feet SFD Lot SFD Lot Single Family 14,001 to 16,000 $2,900 per $3,625 per Detached Property sclIjaLefieet SFD Lot SFD Lot Single Family 12,001 to 14,000 $2,800 per $3,500 per Detached Property s uare feet SFD Lot SFD Lot Single Family 8,000 to 12,000 $2,700 per $3,375 per Detached Property square feet SFD Lot SFD Lot Single Family Less than $1,800 per $1,800 per Detached Property 8,000 square feet SFD Lot SFD Lot On July 1, 2005 and on each July I thereafter, the Maximum Special Taxes shown in Table I above shall be increased by an amount equal to two percent(2%)of the amount in effect for the prior Fiscal Year. The square footage of SFD Lots shall be determined by reference to County Assessor's Parcel Maps or,to the extent such Maps do not reflect square footage of the SFD Lots, by reference to the lot size summary provided by the engineering firm that produced the Final Map. 2. Single Family Attached Property The Maximum Special Tax for Single Family Attached Property for Fiscal Year 2004-05 is $1,800 per Unit. On July 1,2005 and on each July I thereafter,this Maximum Special Tax shall be increased by an amount equal to two percent(21/6)of the amount in effect for the prior Fiscal Year. 3. Loft Units The Maximum Special Tax for Loft Units for Fiscal Year 2004-05 is$1,200 per Unit. On July 1,2005 and on each July 1 thereafter, this Maximum Special Tax shall be increased by an amount equal to two percent (2%) of the amount in effect for the prior Fiscal Year. 4. Non-Residential Property The Maximum Special Tax for Non-Residential Property for Fiscal Year 2004-05 is $2.50 per square foot of Building Square Footage, On July 1, 2005 and on each July I thereafter, this Maximum Special Tax shall be increased each Fiscal Year thereafter by an amount equal to two percent(2%)of the amount in effect the prior Fiscal Year. A-6 Page 147 of 231 5. Golf Course Property The Maximum Special Tax assigned to Golf Course Property for Fiscal Year 2004-05 is$200,000, On July 1,2005 and on each July 1 thereafter, this Maximum Special Tax shall be increased each Fiscal Year thereafter by an amount equal to two percent(2%)of the amount in effect the prior Fiscal Year. If the Golf Course Property is fully contained within one Assessor's Parcel, the Maximum Special Tax identified above shall be collected from the Parcel. If the Golf Course Property is spread over more than one Assessor's Parcel, the following steps shall be applied in the first Fiscal Year in which the Golf Course Property is Developed Property to determine the Maximum Special Tax to be assigned to each Parcel: Step 1: Multiply the total Maximum Special Tax assigned to the Golf Course Property by fifty percent(50%); Step 2: Determine the combined Acreage of all Assessor's Parcels on which the clubhouse, pro shop,driving range,parking lot,and other outbuildings are located; Step 3: Divide the amount determined in Step 1 by the Acreage identified in Step 2 to calculate a per-acre Special Tax; Step 4: Multiply the per-acre Special Tax calculated in Step 3 by the Acreage of each Assessor's Parcel on which the clubhouse, pro shop, driving range, parking lot, and other outbuildings are located to calculate the Maximum Special Tax for each of the Parcels; Step 5: Determine the combined Acreage of all Assessor's Parcels of Golf Course Property that were not included in the Acreage calculated in Step 2 above; Step 6: Divide the amount determined in Step 1 by the Acreage calculated in Step 5 to calculate a per-acre Special Tax; Step 7. Multiply the per-acre Special Tax calculated in Step 6 by the Acreage of each Assessor's Parcel included in the figure determined in Step 5 to calculate the Maximum Special Tax for each of the Parcels. The Maximum Special Tax determined for each Assessor's Parcel of Golf Course Property pursuant to the steps set forth above shall be increased on July 1 of the following Fiscal Year, and on each July 1 thereafter, by an amount equal to two percent (2%) of the amount in effect the prior Fiscal Year. If an Assessor's Parcel of Golf Course Property is further subdivided or otherwise reconfigured, the Maximum Special Tax assigned to the Parcel shall be allocated to the new Parcels on an Acreage basis. 6. Undeveloped Property The Maximum Special Tax for Undeveloped Property for Fiscal Year 2004-05 is$I 7,500 per Acre On July 1, 2005 and on each July I thereafter, this Maximum Special Tax shall be increased by an amount equal to two percent(2%) of the amount in effect for the prior Fiscal Year. D. BACK-UP FORMULA The Maximum Special Taxes set forth in Section C above were calculated based on the Expected Land Uses at CFD Formation. The Administrator shall review Tentative Map revisions and other changes to the land uses within the CFD and compare the revised land uses to the Expected Land Uses to evaluate the impact on the Expected Maximum Special Tax Revenues. In addition,the Administrator shall review Final Maps to ensure they reflect the number and size of SFD Lots that were anticipated in the Tentative Map, A-7 Page 148 of 231 If, prior to the Final Bond Sale, a change to the Expected Land Uses (a "Land Use/Entitlement Change") is proposed that will result in a reduction in the Expected Maximum Special Tax Revenues, no action will be needed pursuant to this Section D as long as the reduction in Expected Maximum Special Tax Revenues does not reduce debt service coverage on outstanding Bonds below the amount committed to in the Bond documents.Upon approval of the Land Use/Entitlement Change, the Administrator shall update Attachment I to show the reduced Expected Maximum Special Tax Revenues, and the reduced Expected Maximum Special Tax Revenues shall be the amount used to by the TDPUD to make future decisions with respect to Bonds. If a proposed Land Use/Entitlement Change would reduce the debt service coverage required on outstanding Bonds or if the Land Use/Entitlement Change is proposed after the Final Bond Sale,the following steps shall be applied: Step I: By reference to Attachment I (which will be updated by the Administrator each time a Land Use/Entitlement Change has been processed according to this Section D), the Administrator shall identify the Expected Maximum Special Tax Revenues for CFD No. 04-1; Step 2: The Administrator shall calculate the Maximum Special Tax revenues that could be collected from property in the CFD if the Land Use/Entitlement Change is approved; Step 3: If the amount determined in Step 2 is higher than that calculated in Step 1, the Land Use/Entitlement Change may be approved without further action. If the revenues calculated in Step 2 are less than those calculated in Step 1,and if: (a) The landowner does not withdraw the request for the Land Use/Entitlement Change that was submitted to the Town;or (b) Before approval of the Land Use/Entitlement Change,the landowner requesting the Land Use/Entitlement Change does not prepay a portion of the Special Tax for the CFD in an amount that corresponds to the lost Maximum Special Tax revenue,as determined by applying the steps set forth in Section H below; then, the amount of the prepayment determined in Step 3.b shalt be allocated on a per-acre basis and included on the next property tax bill for all Assessor's Parcels within the property affected by the Land Use/Entitlement Change. The amount allocated to each Assessor's Parcel shall be added to and,until paid, shall be a part of,the Maximum Special Tax for the Assessor's Parcel. If multiple Land Use/Entitlement Changes are proposed at one time (which may include approval of multiple Final Maps at one time), the Administrator may consider the combined effect of all the Land Use/Entitlement Changes to determine if there is a reduction in Expected Maximum Special Tax Revenues that necessitates implementation of Step 3.b. If, based on this comprehensive analysis, the Administrator determines that there is a reduction in Expected Maximum Special Tax Revenue, and all of the Land UselEnddement Changes are being proposed by the same land owner, the Administrator shall determine the required prepayment(pursuant to Step 3.b)by analyzing the combined impact of all of the proposed Land Use/Entitlement Changes. Notwithstanding the foregoing, if the Administrator analyzes the combined impacts of multiple Land Use/Entitlement Changes, and the Town subsequently does not approve one or more of the Land Use/Entitlement Changes that was proposed,the Administrator shall once again apply the three steps set forth above to determine the combined impact of those Land Use/Entitlement Changes that were approved simultaneously by the Town. If, based on the comprehensive analysis, the Administrator determines that there is a reduction in Expected Maximum Special Tax Revenue, and the Land Use/Entitlement Changes are not all being proposed by the same land owner, the Administrator shall consider the proposed Land Use/Entitlement Changes individually to determine the required prepayment from each owner. A-8 Page 149 of 231 E. METHOD OF LEVY OF THE SPECIAL TAX Each Fiscal Year,the Administrator shall determine the Special Tax Requirement to be collected in that Fiscal Year, and the Special Tax shall be levied according to the steps outlined below. Step 1: The Special Tax shall be levied Proportionately on each Parcel of Developed Property within the CFD that is Single Family Detached Property, Single Family Attached Property, or a Loft Unit up to 100% of the Maximum Special Tax for each Parcel for such Fiscal Year until the amount levied on such Developed Property is equal to the Special Tax Requirement prior to applying any Capitalized Interest that is available in the CFD accounts. Step 2. If additional revenue is needed after Step 1,and after applying Capitalized Interest to the Special Tax Requirement,the Special Tax shall be levied Proportionately on each Parcel of Developed Property within the CFD that is Non-Residential Property up to 100% of the Maximum Special Tax for such Developed Property for such Fiscal Year determined pursuant to Section C. Step 3: If additional revenue is needed after Step 2, the Special Tax shall be levied Proportionately on each Parcel of Developed Property within the CFD that is Golf Course Property up to 100%of the Maximum Special Tax for such Developed Property for such Fiscal Year determined pursuant to Section C. Step 4: If additional revenue is needed after Step 3, the Special Tax shall be levied Proportionately on each Assessor's Parcel of Undeveloped Property within the CFD,up to 100% of the Maximum Special Tax for Undeveloped Property for such Fiscal Year determined pursuant to Section C_ Step 5. If additional revenue is needed after Step 4, the Special Tax shall be levied Proportionately on each Parcel of Association Property within the CFD, up to 100% of the Maximum Special Tax for Undeveloped Property for such Fiscal Year determined pursuant to Section C. Step 6: If additional revenue is needed after Step 5, the Special Tax shall be levied Proportionately on each Assessor's Parcel of Excess Public Property, exclusive of property exempt from the Special Tax pursuant to Section G below, up to 10011/o of the Maximum Special Tax for Undeveloped Property for such Fiscal Year determined pursuant to Section C. F. COLLECTION OF SPECIAL TAX The Special Taxes for CFD No. 04-1 shall be collected in the same manner and at the same time as ordinary ad valorem property taxes, provided, however, that prepayments are permitted as set forth in Section H below and provided further that the TDPUD may directly bill the Special Tax,may collect Special Taxes at a different time or in a different manner, and may collect delinquent Special Taxes through foreclosure or other available methods. The Special Tax for Fractional Units may be billed either directly to individual fractional share owners or to a homeowners association,which shall then bill the individual fractional share owners;non-payment of Special Taxes billed by the homeowners association shall result in interest and penalties, and the fractional ownership shall be subject to foreclosure proceedings as set forth in the Bond covenants. The Special Tax shall be levied and collected until principal and interest on Bonds have been repaid,TDPUD's costs of constructing or acquiring authorized facilities from Special Tax proceeds have been paid, and all administrative expenses have been reimbursed. However, in no event shall a Special Tax be levied after Fiscal Year 204344. Pursuant to Section 53321 (d) of the Act, the Special Tax levied against a Parcel used for private residential purposes shall under no circumstances increase more than ten percent(10%) as a consequence of delinquency or A-9 Page 150 of 231 default by the owner of any other Parcel or Parcels and shall,in no event,exceed the Maximum Special Tax in effect for the Fiscal Year in which the Special Tax is being levied. G. EXEMPTIONS Notwithstanding any other provision of this Rate and Method of Apportionment of Special Tax,no Special Tax shall be levied on up to 42.2 acres of Public Property,237.7 acres of Association Property, 2 acres of property on which Lodge Units have been or,based on building permits that have been issued,are expected to be built,0.67 of an acre of Center for the Arts Property,Fitness Facility Property, and 9 acres of Church Property. A separate amount of public acreage may be exempted each time property annexes into CFD No. 04-1, and such additional exemption shall only apply to property within the annexation area. A Special Tax may be levied on Excess Public Property pursuant to Step 5 of Section E; however, a public agency may prepay or cause the prepayment of the special tax obligation on land conveyed to it that would be classified as Excess Public Property. In addition,no Special Tax shall be levied in any Fiscal Year on Rental Property or Affordable Units. H. PREPAYMENT OF SPECIAL TAX The following definitions apply to this Section H: "Outstanding Bonds" means all Previously Issued Bonds which remain outstanding, with the following exception: if a Special Tax has been levied against, or already paid by, an Assessor's Parcel making a prepayment,and a portion of such Special Tax will be used to pay a portion of the next principal payment on the Bonds that remain outstanding (as determined by the Administrator), that next principal payment shall be subtracted from the total Bond principal that remains outstanding,and the difference shall be used as the amount of Outstanding Bonds for purposes of this prepayment formula. "Previously Issued Bonds"means all Bonds that have been issued on behalf of the CFD prior to the date of prepayment. "Public Facilities Requirements" means either $24,000,000 in 2004 dollars, which shall increase on January 1, 2005, and on each January 1 thereafter by the percentage increase, if any, in the construction cost index for the San Francisco region for the prior twelve (12) month period as published in the Engineering News Record or other comparable source if the Engineering News Record is discontinued or otherwise not available, or such other number as shall he determined by the TDPUD to be an appropriate estimate of the net construction proceeds that will be generated from all Bonds that have been or are expected to be issued on behalf of CFD No. 2004-1. The Public Facilities Requirements shown above may be adjusted or a separate Public Facilities Requirements identified each time property annexes into CFD No. 04.1; at no time shall the added Public Facilities Requirement for that annexation area exceed the amount of public improvement costs that are expected to be supportable by the Maximum Special Tax revenues generated within that annexation area. In addition, the Public Facilities Requirement may be adjusted if the total number of Units authorized to be constructed within the CFD is increased by the Town; this adjustment to the Public Facilities Requirement shall not exceed the amount of public improvement costs that are expected to be supportable by the Maximum Special Tax revenues generated by the additional number of Units approved by the Town. "Remaining Facilities Costs" means the Public Facilities Requirements (as defined above), minus public facility costs funded by Outstanding Bonds(as defined above),developer equity,and/or any other source of funding. The Special Tax obligation applicable to an Assessor's Parcel in the CFD may be prepaid and the obligation of the Assessor's Parcel to pay the Special Tax permanently satisfied as described herein,provided that a prepayment may be made only if there are no delinquent Special Taxes with respect to such Assessor's Parcel at the time of prepayment. An owner of an Assessor's Parcel intending to prepay the Special Tax obligation shall provide the TDPUD with written notice of intent to prepay. Within 30 days of receipt of such written notice, the TDPUD or its designee shall notify such owner of the prepayment amount for such Assessor's Parcel. Prepayment must be made A-10 Page 151 of 231 not less than 75 days prior to any redemption date for Bonds to be redeemed with the proceeds of such prepaid Special Taxes. The Prepayment Amount shall be calculated as follows:(capitalized terms as defined below): Bond Redemption Amount plus Remaining Facilities Amount plus Redemption Premium plus Defeasance Requirement plus Administrative Fees and Expenses less Reserve Fund Credit equals Prepayment Amount As of the proposed date of prepayment,the Prepayment Amount shall be determined by application of the following steps: Step 1. Compute the total Maximum Special Tax that could be collected from the Assessor's Parcel prepaying the Special Tax in the Fiscal Year in which prepayment would be received by the TDPUD or, in the event of a prepayment pursuant to Step 3.b in Section D, compute the amount by which the Maximum Special Tax revenues would be reduced by the Land Use/Entitlement Change and use the amount of this reduction as the figure for purposes of this Step 1. Step 2. Divide the Maximum Special Tax from Step 1 by the then-current Expected Maximum Special Tax Revenues for the CFD. Step 3. Multiply the quotient computed pursuant to Step 2 by the Outstanding Bonds to compute the amount of Outstanding Bonds to be retired and prepaid (the "Bond Redemption Amount'. Step 4. Compute the current Remaining Facilities Costs(if any). Step 5. Multiply the quotient computed pursuant to Step 2 by the amount determined pursuant to Step 4 to compute the amount of Remaining Facilities Costs to be prepaid (the "Remaining Facilities Amount"}. Step 6. Multiply the Bond Redemption Amount computed pursuant to Step 3 by the applicable redemption premium, if any, on the Outstanding Bonds to be redeemed (the `Redemption Premium'j. Step 7. Compute the amount needed to pay interest on the Bond Redemption Amount starting with the first Bond interest payment date after which the prepayment has been received until the earliest redemption date for the Outstanding Bonds, which, depending on the Bond offering document,may be as early as the next interest payment date. Step 8: Compute the amount of interest the TDPUD reasonably expects to derive from reinvestment of the Bond Redemption Amount plus the Redemption Premium from the first Bond interest payment date after which the prepayment has been received until the redemption date for the Outstanding Bonds. Step 9: Take the amount computed pursuant to Step 7 and subtract the amount computed pursuant to Step 8(the "Defeasance Requirement"). Step 10. Determine the costs of computing the prepayment amount,the costs of redeeming Bonds, and the costs of recording any notices to evidence the prepayment and the redemption (the Administrative Fees and Expenses'). A-11 Page 152 of 231 Step 11. If and to the extent so provided in the indenture pursuant to which the Outstanding Bonds to be redeemed were issued,a reserve fund credit shall be calculated as a reduction in the applicable reserve fund for the Outstanding Bonds to be redeemed pursuant to the prepayment(the"Reserve Fund Credit'). Step 12. The Special Tax prepayment is equal to the sum of the amounts computed pursuant to Steps 3, 5,6, 9,and 10,less the amount computed pursuant to Step 11 (the `Prepayment Amount"). A partial prepayment may be made in an amount equal to any percentage of full prepayment desired by the party making a partial prepayment. The Maximum Special Tax that can be levied on an Assessor's Parcel after a partial prepayment is made is equal to the Maximum Special Tax that could have been levied prior to the prepayment, reduced by the percentage of a full prepayment that the partial prepayment represents,all as determined by or at the direction of the Administrator. I. INTERPRETATION OF SPECIAL TAX FORMULA The TDPUD reserves the right to make minor administrative and technical changes to this document that do not materially affect the rate and method of apportioning Special Taxes. In addition, the interpretation and application of any section of this document shall be left to the TDPUD's discretion. Interpretations may be made by the TDPUD by ordinance or resolution for purposes of clarifying any vagueness or ambiguity in this Rate and Method of Apportionment of Special Tax. A-12 Page 153 of 231 r TRUCKEE DONNER PUBLIC UTILITY DISTRICT Community Facilities District No. 04-1 (Gray's Crossing) Special Tax Bonds Series 2004 $15y375,000 Dated: September 14, 2004 Series 2005 $19,155,000 Dated: July 13, 2005 Nevada County, California Base CUSIP+: 897817 DRAFT FOR DISCUSSION PURPOSES ONLY 2022/2023 ANNUAL CONTINUING DISCLOSURE INFORMATION STATEMENT .� DECEMBER 15, 2023 :11 M. . . W I LLDAN + Copyright,American Bankers Association. CUSIP data is provided by CUSIP Global Services(formerly known as CUSIP Service Bureau,a division of The McGraw-Hill Companies, Inc.),which is managed on behalf of the American Bankers Association by S&P Global Market Intelligence.This data is not intended to create a database and does not serve in any way as a substitute for the CUSIP service. The issuer takes no responsibility for the accuracy of such number. Page 154 of 231 DRAFT FOR DISCUSSION PURPOSES ONLY NA/WI LLDAN LIST OF PARTICIPANTS TRUCKEE DONNER PUD. . . Michael R. Salmon DISTRICT Chief Financial Officer/ Treasurer 11570 Donner Pass Road Truckee, California 96161 (530) 582-3959 ADMINISTRATION DISCLOSURE • DISSEMINATION irWilldan Financial Services* UNDERWRITER Temecula, California 92590 (951) 587-3500 www.Willdan.com UBS Financial Services Inc. BOND COUNSEL Stradling Yocca Carlson & Rauth, a Professional Corporation Newport Beach, California The Bank of New York Mellon Corporate Trust Los Angeles, California (213) 630-6145 In its role as Disclosure Consultant and Dissemination Agent, Willdan Financial Services has not passed upon the accuracy, completeness or fairness of the statements contained herein. Page 155 of 231 DRAFT FOR DISCUSSION PURPOSES ONLY WrW I LLDAN L INTRODUCTION Pursuant to Official Statements dated August 31, 2004 and June 21, 2005, respectively, the Truckee Donner Public Utility District ("TDPUD") Community Facilities District No. 04-1 (Gray's Crossing) issued $15,375,000 Special Tax Bonds, Series 2004 ("Series 04 Bonds") and $19,155,000 Special Tax Bonds, Series 2005 ("Series 05 Bonds"), (collectively, the "Bonds"). The Bonds were issued to construct and acquire various public improvements needed with respect to the development within TDPUD's, Community Facilities District No. 04-1 (the "District"), to fund the Reserve Account securing the Bonds, to fund capitalized interest on the Bonds and to pay costs of issuance of the Bonds. The Series 05 Bonds were issued on parity with the Series 04 Bonds. The District is located in Nevada County in the Town of Truckee, California. The Town of Truckee lies just north of the Lake Tahoe Basin; however, due to its location, proximity and recreational orientation, it is identified as a Lake Tahoe community. The Town of Truckee is located on Interstate 80 near the California - Nevada State line. The District consists of approximately 757.2 gross acres and is located north of Interstate 80 in the eastern portion of the Town of Truckee, on both the east and the west sides of Highway 89. The District is developing into a mountain resort community that was originally planned at the time of formation to include 408 single-family lots, 89 freestanding cottages, 115 attached townhomes, 21 residential lofts, 40,700 square feet of commercial and community space, as well as on-site amenities. The development in the District is known as "Gray's Crossing." On August 20, 2019, the Town of Truckee Planning Commission approved a Tentative Map to re-subdivide the existing Final Map No. 02-007, called the Village at Gray's Crossing Phase I Subdivision Map, into seven commercial lots, three common space/open space lots, one right-of-way lot, 24 townhome lots, 21 condominiumized lofts, one fourplex lot with four condominiumized units, and associated easements and public improvements including realignment of the Class I trail, bus shelter on Edwin Way, and an offsite bus turnout on the south side of Henness Road. The Bonds are limited obligations of the District payable solely from Net Taxes, as defined within the Official Statement, pledged and from certain other amounts held in the Special Tax Fund pursuant to the Indenture. The faith and the credit of neither the District, TDPUD, the State of California nor any political subdivision thereof is pledged to the payment of the principal of, premium, if any, or interest of the Bonds. The issuance of the Bonds shall not directly, indirectly or contingently obligate the District, TDPUD, the State of California or any political subdivision thereof to levy or pledge any form of taxation whatsoever other than the Special Taxes, or to make any appropriation for their payment other than from Net Taxes and from certain other amounts held in the Special Tax Fund. This Annual Continuing Disclosure Information Statement (the "Report") is being provided pursuant to covenants made by the District for the benefit of the holders of the Bonds and includes the information specified in the Continuing Disclosure Certificates for the Bonds. For 2022/2023 CFD 04-1 (Gray's Crossing) Page 1 of 7 Page 156 of 231 DRAFT FOR DISCUSSION PURPOSES ONLY ')VW I LLDAN further information and a more complete description of the District and the Bonds, reference is made to the Official Statements. The information set forth herein has been furnished by the TDPUD and by other sources, which is believed to be accurate and reliable but are not guaranteed as to accuracy or completeness. Statements contained in this Report which involve estimates, forecasts, or other matters of opinion, whether or not expressly so described herein, are intended solely as such and are not to be construed as representations of fact. Further, the information and expressions of opinion contained herein are subject to change without notice and the delivery of this Report will not, under any circumstances, create any implication that there has been no change in the affairs of the TDPUD or any other parties described herein. THIS REPORT IS OF A FACTUAL NATURE WITHOUT SUBJECTIVE ASSUMPTIONS, OPINIONS, OR VIEWS AND MAY NOT BE RELIED UPON AS ADVICE OR RECOMMENDATION TO PURCHASE OR SELL ANY PRODUCT OR UTILIZE ANY PARTICULAR STRATEGY RELATING TO THE ISSUANCE OF MUNICIPAL SECURITIES OR PURCHASE OF FINANCIAL PRODUCTS. IN PROVIDING THIS REPORT, WILLDAN FINANCIAL SERVICES AND ITS EMPLOYEES (COLLECTIVELY "WILLDAN") DO NOT RECOMMEND ANY ACTIONS AND ARE NOT ACTING AS AN ADVISOR TO ANY MUNICIPAL ENTITY, BOARD, OFFICER, AGENT, EMPLOYEE OR OBLIGATED PERSON PURSUANT TO SECTION 15B OF THE EXCHANGE ACT UNLESS SPECIFICALLY AGREED TO IN A SEPARATE WRITING WITH THE RECIPIENT. PRIOR TO ACTING ON ANY INFORMATION OR MATERIAL CONTAINED IN THIS REPORT, YOU SHOULD DISCUSS IT WITH APPROPRIATE INTERNAL OR EXTERNAL ADVISORS AND EXPERTS AND ONLY RELY UPON THEIR ADVICE. 2022/2023 CFD 04-1 (Gray's Crossing) Page 2 of 7 Page 157 of 231 DRAFT FOR DISCUSSION PURPOSES ONLY NA/WI LLDAN II. BOND INFORMATION A. PRINCIPAL OUTSTANDING Bond Issue As of June 30, 2023 CFD 04-1 Gray's Crossing Special Tax Bonds Series 2004 $11,985,000 CFD 04-1 Gray's Crossing Special Tax Bonds Series 2005 14,500,000 Total 000 B. FUND BALANCES Fund Balances As of June 30, 2023 Special Tax Fund $1,442,141 Interest Account of the Special Tax Fund $0 Principal Account of the Special Tax Fund $0 Redemption Account of the Special Tax Fund $0 Prepayment Account of the Special Tax Fund $49,255 Administrative Expense Fund $4,861 Rebate Fund $0 Surplus Fund $0 Reserve Account of the Special Tax Fund $2,266,435 Reserve Requirement(1) $3,316,241 The Acquisition and Construction Funds for both Series 2004 and Series 2005,which includes the Costs of Issuance Account and the Project Account,are closed. (2)The Reserve Requirement means,as of any date of calculation by the District,an amount equal to the lowest of(i)10%of the original proceeds of the Bonds,less original issue discount, if any,plus original issue premium,if any,or(ii)Maximum Annual Debt Service, or(iii)125%of the average Annual Debt Service. Source:Fund Balances provided by Truckee Donner Public Utility District. C. SIGNIFICANT/LISTED EVENT — UNSCHEDULED DRAW ON DEBT SERVICE RESERVES On September 1, 2023, a draw on the Reserve Fund for $264,772.45 was performed in order to pay the September 1, 2023 Debt Service Payment on the Bonds. The District had insufficient funds to make the full debt service payment of $1,878,296.25 on the Series 2004 and Series 2005 Bonds. The unscheduled draw is due to a consistently high delinquency rate in the District. The notice for this significant event was filed with the Municipal Securities Rulemaking Board's Electronic Municipal Market Access website ("EMMA") on September 6, 2023. 2022/2023 CFD 04-1 (Gray's Crossing) Page 3 of 7 Page 158 of 231 DRAFT FOR DISCUSSION PURPOSES ONLY NA/WI LLDAN Ill. FINANCIAL INFORMATION TDPUD'S ANNUAL FINANCIAL STATEMENT IS PROVIDED SOLELY TO COMPLY WITH THE SECURITIES EXCHANGE COMMISSION STAFF'S INTERPRETATION OF RULE 15C2-12. NO FUNDS OR ASSETS OF TDPUD ARE REQUIRED TO BE USED TO PAY DEBT SERVICE ON THE BONDS AND TDPUD IS NOT OBLIGATED TO ADVANCE AVAILABLE FUNDS FROM TDPUD'S TREASURY TO COVER ANY DELINQUENCIES. INVESTORS SHOULD NOT RELY ON THE FINANCIAL CONDITION OF TDPUD IN EVALUATING WHETHER TO BUY, HOLD OR SELL THE BONDS. There will not be separate audited financial statements prepared for the District. The activities of the District are reported within TDPUD's audited financial statements. The audited financial statements for TDPUD for the fiscal year ended December 31, 2023 will be separately filed with EMMA and are hereby incorporated by reference into this Report. Per the Continuing Disclosure Agreement, the due date for dissemination of the Report is six months after the end of the District's fiscal year, commencing not later than January 1, 2005. However, the District's fiscal year ends December 31, 2023, not June 30, 2023. Therefore, the audited financial statements will be disseminated when completed by June 30, 2024 and still within the six months following the end of the District's fiscal year. 2022/2023 CFD 04-1 (Gray's Crossing) Page 4 of 7 Page 159 of 231 DRAFT FOR DISCUSSION PURPOSES ONLY Wr'W I LLDAN IV. OPERATING INFORMATION A. DELINQUENCY SUMMARY The following table sets forth a summary of the delinquent Annual Special Taxes within the District. DelinquentNumber of Delinquent Percent of Fiscal Number of Parcels Total Annual Special Tax Special Tax Year Parcels 2009/10 416 3 $2,239,928 $76,733 3.43% 2010/11 416 3 $2,330,364 $405,825 17.41% 2011/12 416 3 $2,390,301 $423,351 17.71% 2012/13 416 3 $2,473,472 $456,787 18.47% 2013/14 416 3 $2,529,460 $470,525 18.60% 2014/15 416 3 $2,569,162 $472,250 18.38% 2015/16 415 3 $2,599,116 $470,186 18.09% 2016/17 413 3 $2,639,727 $477,069 18.07% 2017/18 413 3 $2,482,162 $323,344 13.03% 2018/19 408 3 $2,505,684 $321,936 12.85% 2019/20 407 6 $2,579,312 $222,329 8.62% 2020/21 407 6 $2,605,423 $350,530 13.45% 2021/22 407 5 $2,655,726 $347,669 13.09% 2022/23 426 8 $2,933,651 $562,167 19.16% Amount delinquent as of September 25,2023. Source:Nevada County Tax Collector,as compiled by Willdan Financial Services. The following table lists the parcels delinquent over $2,500: AmountAssessor's First Year Parcel Number Delinquent Days Delinquent Delinquent(1) 019-770-002-000 2009/10 5,037 $2,322,577 019-800-001-000 2021/22 898 $4,298 019-840-002-000 2022/23 168 $2,678 019-840-028-000 2022/23 289 $5,177 019-850-022-000 2022/23 289 $5,177 019-870-011-000 2020/21 1,019 $4,976 019-900-020-000 2019/20 1,019 $5,491 043-010-005-000 2009/10 5,037 $1,114,953 043-010-007-000 2009/10 5,037 $1,896,701 043-020-018-000 2019/20 1,263 $2,692 043-020-029-000 2019/20 1,263 $5,548 043-040-012-000 2022/23 289 $5,892 Amount delinquent as of September 25,2023. 2022/2023 CFD 04-1 (Gray's Crossing) Page 5 of 7 Page 160 of 231 DRAFT FOR DISCUSSION PURPOSES ONLY -)VW I LLDAN Source:Nevada County Tax Collector,as compiled by Willdan Financial Services. B. FORECLOSURE PROCEEDINGS The District has covenanted to commence judicial foreclosure proceedings against all parcels where the aggregate delinquent Special Taxes on such parcels is greater than $7,500 by the October 1 following the close of each Fiscal Year in which such Special Taxes were due. The District will commence judicial foreclosure proceedings against all parcels with delinquent Special Taxes by the October 1 following the close of each Fiscal Year in which it receives Special Tax in an amount which is less than 95% of the total Special Tax levied for such Fiscal Year. The District is pursuing foreclosure actions on delinquent parcels pursuant to the Trust Agreement. On August 16, 2023, a Notice of Intent to Remove Delinquent Special Tax Installments from the Tax Roll was recorded with Nevada County for nine (9) delinquent parcels. One (1) parcel paid their Special Taxes on September 25, 2023. On September 7, 2023, eight (8) parcels were sent to the Foreclosure Attorney for collection. As of the date of this Report, the eight (8) parcels remain delinquent. All are in the process of Foreclosure (see listing below). Assessor's Parcel Number First Year Delinquent Amount Delinquent 019-770-002-000 2009/10 $2,322,577.15 019-840-002-000 2022/23 $2,677.96 019-840-028-000 2022/23 $5,177.38 019-850-022-000 2022/23 $5,177.38 043-010-005-000 2009/10 $1,114,953.02 043-010-007-000 2009/10 $1,896,701.12 043-020-029-000 2019/20 $5,548.22 043-040-012-000 2022/23 $5,891.50 Amount delinquent as of September 25,2023. Source:Nevada County Tax Collector,as compiled by Willdan Financial Services. C. VALUE TO LIEN RATIOS The following table sets forth the Assessed Value to Lien Ratio for the properties within the District based on land use. 2022/2023 CFD 04-1 (Gray's Crossing) Page 6 of 7 Page 161 of 231 DRAFT FOR DISCUSSION PURPOSES ONLY NA/WI LLDAN 2023/24 2023/24 2023/24 Total Value-to- Maximum Percent of Applied Parcel Assessed Lien of Lien Special Maximum Special Category Count Value(1) Bonds (2) Ratio Tax Special Tax Tax Residential (3) 383 $432,809,137 $15,407,096 28.09 $1,967,824 58.17% $1,967,822 Golf Course 6 2,787,711 2,281,223 1.22 291,362 8.61% 291,362 Undeveloped(4) 36 6,147,866 8,796,681 0.70 1,123,529 33.21% 773,585 111 16.68 $3,382,716 100.00% $3,032,770 f (')Calculated as the pro-rata share of the Maximum Tax times the principal outstanding on the Bonds as of June 30,2023. (2)The Residential Category contains 175 parcels that have no structure value. 0)The Undeveloped Category contains 7 Commercial parcels. Source:Nevada County 2023124 Secured Property Roll, as compiled by Willdan Financial Services. D. PRINCIPAL PROPERTY OWNERS The following table sets forth the principal property owners within the District for Fiscal Year 2023/24. The information in this table is based on the Nevada County 2023/24 Secured Property Roll and does not reflect any subsequent development and change of ownership, nor any increase in assessed value due to recent changes of ownership or re-assessments by the Nevada County Assessor. Assessed Value 1 Maximum Applied Parcel Special Special Property Owner Count Tax Tax Land Structure Total Siddiqui Family Partnership LP(1) 2 $551,185 $379,508 $1,161,550 $0 $1,161,550 Dk Alviso LLC(1) 1 300,067 206,606 525,588 0 525,588 Tahoe Club Co. LLC 6 291,362 291,362 982,128 1,805,583 2,787,711 Gray's Crossing Investments LLC (1) 7 94,838 65,299 971,735 0 971,735 Village at Gray's Crossing LLC(1) 25 90,249 62,139 2,740,800 0 2,740,800 Gray's Crossing Land Holdings LLC(1) 1 87,190 60,033 748,193 0 748,193 Investment Specialty Group LLC 7 39,334 39,334 2,053,378 4,269,090 6,322,468 Greenstein Martin R Trste Etal 8 34,089 34,089 290,637 861,995 1,152,632 Case John S Trste Etal 3 15,843 15,843 481,168 1,987,170 2,468,338 Rahimian Javad &Shirin Trstes 2 11,654 11,654 256,088 2,881,908 3,137,996 Other Property Owners 363 1,866,903 1,866,902 74,720,023 345,007,680 419,727,703 $3,032,770 (1)Parcels are categorized as undeveloped. Note:Totals may not tie due to rounding. Source:Nevada County 2023124 Secured Roll as compiled by Willdan Financial Services. E. CHANGES TO THE RATE AND METHOD OF APPORTIONMENT There have been no changes to the Rate and Method of Apportionment of Special Tax approved or submitted to qualified electors for approval prior to the filing of the Report. 2022/2023 CFD 04-1 (Gray's Crossing) Page 7 of 7 Page 162 of 231 DRAFT FOR DISCUSSION PURPOSES ONLY *"WI LLDAN F. CALIFORNIA DEBT INVESTMENT ADVISORY COMMISSION (CDIAC) REPORT Copies of the most recent State of California Debt and Investment Advisory Commission Mello-Roos Yearly Status Reports for the Bonds are attached to this Report. 2022/2023 CFD 04-1 (Gray's Crossing) Page 8 of 7 Page 163 of 231 MELLO ROOS REPORT�Ew*Tf CDIAC#: 2004-1553 ,E � c J California Debt and Investment Advisory Commission, 915 Capitol Mall, Status: Submitted '' Room 400, Sacramento, CA 95814 P.O. Box 942809, Sacramento, CA 10/23/2023 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 Information as of Reporting Year End: 06/30/2023 Issuance Issuer Name: Truckee Donner Public Utility District CFD No 04-1 Issue Name: 2004 Special Tax Bonds Project Name: Gray's Crossing Actual Sale Date: 08/31/2004 Settlement Date: 09/14/2004 Original Principal Amount: $15,375,000.00 Date of Filing: 10/18/2023 Reserve Fund Minimum Balance: Yes Reserve Fund Minimum Balance Amount: $1,520,876.24 Credit Rating from Report of Final Sale Credit Rating: Not Rated Standard&Poor: Fitch: Moody's: Other: Credit Rating from Mello-Roos Last Yearly Fiscal Status Report Credit Rating: Not Rated Standard&Poor: Fitch: Moody's: Other: Credit Rating for This Reporting Period Credit Rating: Not Rated Standard&Poor: Page 1 of 3 Page 164 of 231 MELLO ROOS REPORT�Ew*Tf CDIAC#: 2004-1553 ,E � c J California Debt and Investment Advisory Commission, 915 Capitol Mall, Status: Submitted '' Room 400, Sacramento, CA 95814 P.O. Box 942809, Sacramento, CA 10/23/2023 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 Fitch: Moody's: Other: Fund Balance Principal Amount of Bonds Outstanding: $11,985,000.00 Bond Reserve Fund: $1,039,419.79 Capitalized Interest Fund: $0.00 Construction Fund(s): $0.00 Assessed Value Assessed or Appraised Value Reported as of: 07/01/2023 Use Appraised Value only in first year or before annual tax roll billing commences: From Equalized Tax Roll Total Assessed Value of All Parcels: $441,744,714.00 Tax Collection Total Amount of Special Taxes Due Annually: $2,933,651.40 Total Amount of Unpaid Special Taxes Annually: $562,167.45 Does this agency participate in the County's Teeter Plan? No Delinquent Reporting Delinquent Parcel Information Reported as of Equalized Tax Roll of: 09/25/2023 Total Number of Delinquent Parcels: 14 Total Amount of Special Taxes Due on Delinquent Parcels: $5,380,700.86 Delinquency Parcel Reporting Document Type Document Name File Upload Date Delinquent Parcel Detail Report CFD 04-1 DQ Report v3.pdf 10/19/2023 Foreclosure Page 2 of 3 Page 165 of 231 MELLO ROOS REPORT�Ew*Tf CDIAC#: 2004-1553 ,E � c J California Debt and Investment Advisory Commission, 915 Capitol Mall, Status: Submitted '' Room 400, Sacramento, CA 95814 P.O. Box 942809, Sacramento, CA 10/23/2023 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 Date Foreclosure Total Number of Foreclosure Total Amount of Tax on Foreclosure Commenced Parcels Parcels 08/16/2023 8 $562,167.45 Retired Issues Indicate Reason for Retirement: Not Retired Filing Contact Filing Contact Name: Richelle Lane Agency/Organization Name: Willdan Financial Services Address: 27368 Via Industria City: Temecula State: CA Zip Code: 92590 Telephone: 951-5873519 Fax Number: E-mail: rlane@willdan.com Comments Issuer Comments: Page 3 of 3 Page 166 of 231 MELLO ROOS REPORT�Ew*Tf CDIAC#: 2005-0453 ,E � c J California Debt and Investment Advisory Commission, 915 Capitol Mall, Status: Submitted '' Room 400, Sacramento, CA 95814 P.O. Box 942809, Sacramento, CA 10/23/2023 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 Information as of Reporting Year End: 06/30/2023 Issuance Issuer Name: Truckee Donner Public Utility District CFD No 04-1 Issue Name: 2005 Special Tax Bonds Project Name: Gray's Crossing Actual Sale Date: 06/21/2005 Settlement Date: 06/21/2005 Original Principal Amount: $19,155,000.00 Date of Filing: 10/18/2023 Reserve Fund Minimum Balance: Yes Reserve Fund Minimum Balance Amount: $1,795,365.00 Credit Rating from Report of Final Sale Credit Rating: Not Rated Standard&Poor: Fitch: Moody's: Other: Credit Rating from Mello-Roos Last Yearly Fiscal Status Report Credit Rating: Not Rated Standard&Poor: Fitch: Moody's: Other: Credit Rating for This Reporting Period Credit Rating: Not Rated Standard&Poor: Page 1 of 3 Page 167 of 231 MELLO ROOS REPORT�Ew*Tf CDIAC#: 2005-0453 ,E � c J California Debt and Investment Advisory Commission, 915 Capitol Mall, Status: Submitted '' Room 400, Sacramento, CA 95814 P.O. Box 942809, Sacramento, CA 10/23/2023 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 Fitch: Moody's: Other: Fund Balance Principal Amount of Bonds Outstanding: $14,500,000.00 Bond Reserve Fund: $1,227,014.97 Capitalized Interest Fund: $0.00 Construction Fund(s): $0.00 Assessed Value Assessed or Appraised Value Reported as of: 07/01/2023 Use Appraised Value only in first year or before annual tax roll billing commences: From Equalized Tax Roll Total Assessed Value of All Parcels: $441,744,714.00 Tax Collection Total Amount of Special Taxes Due Annually: $2,933,651.40 Total Amount of Unpaid Special Taxes Annually: $562,167.45 Does this agency participate in the County's Teeter Plan? No Delinquent Reporting Delinquent Parcel Information Reported as of Equalized Tax Roll of: 09/25/2023 Total Number of Delinquent Parcels: 14 Total Amount of Special Taxes Due on Delinquent Parcels: $5,380,700.86 Delinquency Parcel Reporting Document Type Document Name File Upload Date Delinquent Parcel Detail Report CFD 04-1 DQ Report v3.pdf 10/19/2023 Foreclosure Page 2 of 3 Page 168 of 231 MELLO ROOS REPORT�Ew*Tf CDIAC#: 2005-0453 ,E � c J California Debt and Investment Advisory Commission, 915 Capitol Mall, Status: Submitted '' Room 400, Sacramento, CA 95814 P.O. Box 942809, Sacramento, CA 10/23/2023 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 Date Foreclosure Total Number of Foreclosure Total Amount of Tax on Foreclosure Commenced Parcels Parcels 08/16/2023 8 $562,167.45 Retired Issues Indicate Reason for Retirement: Not Retired Filing Contact Filing Contact Name: Richelle Lane Agency/Organization Name: Willdan Financial Services Address: 27368 Via Industria City: Temecula State: CA Zip Code: 92590 Telephone: 951-5873519 Fax Number: E-mail: rlane@willdan.com Comments Issuer Comments: Page 3 of 3 Page 169 of 231