Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
Agenda Packet 2026-07-01
Board of Directors T R U C K E E D O N N E R General Manager Jeff Bender PUBLIC UTILITY DISTRICT Brian C. Wright Christa Finn r4 Executive Leadership Tony Laliotis Chad J. Reed Courtney Murrell REGULAR BOARD MEETING Mike Swanson Steve Randall 11570 DONNER PASS ROAD, TRUCKEE, Michael Salmon CA 96161 Steven Poncelet 6:00 PM, Wednesday, July 1, 2026 Scott Crow AGENDA Jillian Steward Martina Rochefort 1. Call to Order 2. Roll Call 3. Pledge of Allegiance 4. Changes to the agenda 5. Public Comment— This is time set aside for the public to address the Board on any matter not on the agenda. Testimony related to any agendized matter should be addressed at the time that that item is considered. (The public may comment on any subject that is not on the agenda. Each speaker will be limited to three minutes, but speaker time may be reduced at the discretion of the Board President if there are a large number of speakers on any given subject.) DIRECTOR UPDATE 6. This item provides time for Directors to comment on any item within the purview of the District. DEPARTMENT UPDATES 7. This item provides time for each Department to update the Board of Directors. CONSENT CALENDAR These items are generally interpreted as routine in nature or the subject matter has been previously presented to the Board for discussion. They are intended to be acted upon by the Board without additional discussion. Any Board Member may request an item to be removed from the Consent Calendar for discussion prior to voting on the Consent Calendar. 8. Board Meeting Minutes Consider approval of June 3, 2026 Board Meeting Minutes a .®. FUHUL A LEADERSHIP SPECIAL RISIRICTFOR.i..... NDRIION 11570 Donner Pass Road,Truckee,CA 96161 Phone-530-587-3896-www.tdpud.or Page 1 of 225 9. Treasurer's Report, July 2026 Consider Approval of the Treasurer's Report for July 2026 including: a. Fund Balances for the Month of April 2026 b. Disbursements for the Month of May 2026 10. Consideration of a Contract with Teichert Rock Products for Aggregate Materials and Asphalt Purchase Authorize the General Manager to execute a procurement contract and associated documents with Teichert Rock Products for the purchase of aggregate and asphalt materials for a total amount not to exceed $150,000. 11. Consideration of a Professional Services Contract with Rincon Consultants for Required Greenhouse Gas Verification Services in Accordance with the California Air Resources Board Mandatory Greenhouse Gas Reporting Regulation. Authorize the General Manager to execute a Professional Services Agreement with Rincon Consultants for the required Greenhouse Gas Verification Services in accordance with the California Air Resources Board's Mandatory Greenhouse Gas Reporting Regulation in the amount of $20,000, plus a ten percent change order allowance of$2,000, for a total authorization not to exceed $22,000. ACTION ITEMS 12. Consideration of Electric Construction Services Contract with Herman Weissker, Inc for Northwoods South System Hardening Project Authorize the General Manager to execute a construction services contract and associated documents with Herman Weissker Power, Inc for the Electric - Northwoods South System Hardening Project in the amount of$1,595,036, plus a 10% change order authorization of$159,504, for a total construction contract amount not to exceed $1,754,540. 13. Consideration of a Construction Services Contract with Herman Weissker, Inc for the Pole and Anchor Hole Excavation on the Ski Slope System Hardening Project Authorize the General Manager to execute a construction services contract and associated documents with Herman Weissker Power, Inc for Pole and Anchor Hole Excavation Services in the amount of$376,349, plus a 10% Page 2 of 225 change order authorization of $37,635, for a total construction contract budget not to exceed $413,984. 14. Consideration of Authorizing the General Manager to Execute the Agreement Regarding APN# 019-770-002-000. 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; accepting full payment for all installment special tax amounts past due, in exchange for waiving current Penalty and Interest amounts 15. Consideration of Authorizing the General Manager to Execute the Agreement Regarding APN# 043-010-005-000. a. Determine that the waiver of current Penalty and Interest for APN# 043- 010-005-000 agreement complies with the requirements of Government Code section 53340(f); and b. Authorize the General Manager to execute the Agreement regarding APN# 043-010-005-000; accepting full payment for all installment special tax amounts past due, in exchange for waiving current Penalty and Interest amounts. CLOSED SESSION 16. Closed Session Pursuant to Government Code Section 54956.9(d)(1), Conference with Legal Counsel, Existing Litigation, Kuhlemier v. TDPUD, et al., United States District Court, Eastern District of California Case No. 2-24-cv-02951-DC-AC 17. Closed Session Pursuant to Government Code Section 54956.9(d)(1), Conference with Legal Counsel, Existing Litigation, Sanchez v. TDPUD, et al, Superior Court of the State of California, County of Nevada, Case No. CU0001910 18. Closed Session Pursuant to Government Code Section 54957 Public General Manager's Performance Plan Review 19. Conference with Real Property Negotiator (Government Code Section 54956.8) APN 049-040-024-000 Agency Negotiator: Brian Wright, General Manager Negotiating Parties:Tahoe-Truckee Sanitation Agency Under negotiation: Price & Terms ADJOURNMENT Page 3 of 225 The agenda is available for review at the TDPUD Administrative Office and the District's internet website. Posted on Friday, June 26, 2026. Martina Rochefort, District Clerk A copy of the agenda packet is available for public review, during normal business hours, at the District Administrative Office located at 11570 Donner Pass Road. Public participation is encouraged. The meeting location is accessible to people with disabilities. Every reasonable effort will be made to accommodate participation of the disabled in all of the Districts public meetings. If particular accommodations for the disabled are needed (i.e. disability-related aids, or other services), please contact the District Clerk at (530) 582-3923 or martinar@tdpud.org, at least 24 hours in advance of the meeting. Any person with a disability may submit a request for reasonable modification or accommodation to the above-described means for accessing and offering comment at the meeting to Martina Rochefort, District Clerk, or email at martinar@tdpud.org, who will swiftly resolve such a request. Page 4 of 225 TRUCKEE DON N ER AGENDA ITEM #7 PUBLIC UTILITY DISTRICT MEETING DATE: July 1, 2026 TO: Board of Directors FROM: SUBJECT: This item provides time for each Department to update the Board of Directors. APPROVED BY: Brian C. Wright, General Manager RECOMMENDATION: BACKGROUND: ANALYSIS AND BODY: GOALS AND OBJECTIVES: District Code 1.05.020 Objectives: 1. Responsibly serve the public. 2. Provide a healthy and safe work environment for all District employees. 3. Provide reliable and high quality water supply and distribution system to meet current and future needs. 4. Provide reliable and high quality electric supply and distribution system to meet current and future needs. 5. Manage the District in an environmentally sound manner. 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 2. Environmental Stewardship: Create a sustainable resilient environment for all our communities. 3. Engage with our customers and communities in a welcoming and transparent way to identify opportunities. 4. Modernize the utility and add value to our communities through collaboration and innovation. 5. Developing an inclusive culture drives organizational integration and success. FISCAL IMPACT: Page 1 of 2 Page 5 of 225 ATTACHMENTS: 1. Water - Department Update 2. Electric - Department Update 3. Administrative Services - Department Update 4. Human Resources & Risk Management - Department Update 5. Public Information & Strategic Affairs - Department Update Page 2 of 2 Page 6 of 225 TRUCKEE DONNER PUBLIC UTILITY DISTRICT MEETING DATE: July 1, 2026 FROM: Chad J. Reed, Water Utility Director SUBJECT: Water Department Update Water Supply As we transition into the warmer months, our water production—the total volume of water we pump and disinfect for the community—continues to follow expected seasonal variations. As illustrated in Figure 1, total production for May 2026 was 1% lower than in May 2025. When compared to the average production of the past three months of May (2023-2025), we are currently 4% below those historical levels. Wmr produccion(GA—) dr OWN :Y 3 e r .ii [x luN n.gcr sepremoer u[eGrr xeueiron 9nnnGn ■2026 PrcAur�n •]935 Pretlxbon &3Year 0.veraQe Figure 1 Total potable water production for the District While these figures show a continued trend of mindful consumption and system efficiency, overall production is rising as we enter the summer season. This increase in demand directly impacts our Operations Crew, who are managing longer pump "run times" (the duration our wells are actively pumping water) and an increased frequency of sodium hypochlorite deliveries. Sodium hypochlorite is the liquid solution used to safely disinfect the water supply, ensuring it meets all health and safety standards before reaching the customer. System Maintenance & Leak Detection Our field crew remain highly active, balancing routine maintenance with support for our expanding capital projects. The Distribution Crew is currently working alongside our construction teams to ensure new infrastructure is integrated seamlessly into the existing system. Page 1 of 3 Page 7 of 225 :I .. 4 So - q5 Figure 2 Left:removing existing"T" that is no longer needed from and old main on Pine Forest Road,Middle:"T"has been removed,Right:A"Hot-Tap"is being performed for so less customers will be affected by the summer construction projects. Simultaneously, our Meter and Water Loss Group has been performing vital "leak detection" work. By monitoring thousands of feet of mainline—the primary large- diameter pipes that move water through our streets—they have already successfully located and flagged several leaks this year. Identifying these issues early is a cornerstone of our "conservation as a way of life" mandate, as it prevents significant water loss and protects the integrity of our roads and property. Water Quality & Regulatory Compliance As part of our ongoing commitment to public health, the District recently completed its first round of monitoring for PFAS and PFOA in our supply wells. PFAS (per- and polyfluoroalkyl substances) are a large family of synthetic chemicals that have been used in various consumer products since the 1940s. These are commonly referred to as "forever chemicals" because they are extraordinarily stable and break down extremely slow, allowing them to persist in water supplies and the human body for decades. We are pleased to report that out of the ten potable wells tested, eight had no detection of these substances. Two wells did show a "detect"—meaning some of these constituents are present—but both sites remained well below the current Maximum Contaminant Level (MCL), the federal EPA standards, which is set at 4.0 parts per trillion for both chemicals. The MCL is the legal threshold limit set by regulatory agencies for the amount of a specific substance allowed in public water systems to ensure safety. While our current results remain within safe operating parameters, the District is closely following emerging research regarding the treatment of these pollutants. Most existing Page 2 of 3 Page 8 of 225 water treatment technologies are designed to filter or "remove" PFAS, which often just transfers the chemicals from the water to another location. However, recent scientific breakthroughs have identified a "hidden weakness" in these chemicals. "Researchers have discovered that hydrogen radicals—highly reactive particles generated when water is exposed to intense ultraviolet (UV) light—can break the incredibly strong carbon-fluorine bonds that make these chemicals so persistent." This discovery is a significant step toward developing "greener" technologies that can actually destroy these pollutants rather than just moving them around. We will continue to stay informed on these technological advancements as we prioritize delivering the highest quality water to our community. 2026 Construction Season Progress Our capital improvement projects are in full swing, though we continue to adjust schedules based on environmental conditions to ensure the highest quality of work. • Pipeline Rehabilitation (Slip-lining) Project: We are making significant progress on our slip-lining efforts, a trenchless technology where a new pipe is slid inside an existing one to avoid digging up large sections of environmental sensitive areas and heavily traveled roadways. This week, the crew is performing disinfection and pressure checking. Disinfection is a cleaning process to ensure the new line is sanitary, while pressure checking involves testing the pipe at higher levels to ensure there are no weak points or leaks. We anticipate two of the four segments may be online by the time of the Board meeting. Please note that two of the four planned slip-line segments have been rescheduled for the fall due to high groundwater levels and other site-specific circumstances. 2026 Pipeline Replacement Project (Ski Bowl Condos): This project is slated to begin the end of June. The start date was adjusted to allow local groundwater levels to recede further, which is necessary to ensure stable and efficient installation of the new pipeline segments. Hirschdale Pipeline Construction Project: The Hirschdale project also remains on the schedule for July. The District Engineer is finalizing the necessary submittals to ensure construction proceeds smoothly once crews are on-site. Page 3of3 Page 9 of 225 TRUCKEE DONNER PUBLIC UTILITY DISTRICT MEETING DATE: July 1, 2026 FROM: Mike Swanson, Director of Electric Engineering and Operations SUBJECT: Electric Department Update May 2026 Reliability Metrics 2026 YTD TDPUD System Only (Excluding Transmission Provider YTD 26 YTD 25 Change % Change SAIFI 0.472 1.016 -0.544 -54% SAIDI 73.206 95.056 -21.850 -23% CAIDI 155.097 93.559 61.538 66% May TDPUD System Only Excludes Transmission Provider Ma -26 Ma -25 Change % Change SAIFI 0.012 0.340 -0.328 -96% SAIDI 3.261 35.319 -32.058 -91% CAIDI 271.750 95.813 175.937 184% Transmission Provider A r-26 SAIFI 0.000 SAIDI 0.000 CAIDI 0.000 Planned Outages 16 planned customer outages mostly along Northwoods for the Wildfire Hardening rebuild. A total of 159 customers were affected and a total of 45,840 customer minutes. This accounts for 93% of the monthly total outage minutes. The average outage was 330 minutes. Staff continue to monitor reliability performance and analyze outage data to identify opportunities for improvement through targeted maintenance, system hardening,vegetation management, and operational enhancements. Page 1 of 2 Page 10 of 225 Current Projects Northwoods Pilot System Hardening Project District crews are in the final stages of completing the Northwoods Pilot System Hardening Project. This project has provided valuable experience with covered conductor installation and construction methods that will be utilized on future system hardening projects. Construction is expected to be completed this month. Martis Valley Substation Modernization The Martis Valley Substation Modernization Project continues to make excellent progress and remains on schedule for completion prior to the winter season. This project represents a significant investment in system reliability, operational flexibility, and long-term infrastructure resiliency. SRIP 6 System Hardening Project Construction activities on the SRIP 6 System Hardening Project began last week. The District's contractor, HW Power, has mobilized and started work. This project will further support the District's wildfire mitigation and reliability objectives through the installation of hardened electric infrastructure. Upcoming Projects Ski Slope System Hardening Project Following completion of the Northwoods Pilot Project, District crews will begin work on the Ski Slope System Hardening Project. The project will continue implementation of the District's system hardening strategy utilizing ductile iron poles, covered conductor, and composite/fiberglass crossarms. Northwoods South System Hardening Project The Northwoods South System Hardening Project is scheduled for Board consideration this evening. Upon award, construction activities are expected to begin this month. The project represents another significant step forward in the District's long-term wildfire mitigation and system resiliency efforts. Project Readiness Staff have secured materials for all planned 2026 system hardening projects and have also begun procuring key materials for 2027 projects. By securing materials well in advance,the District is reducing supply chain risks, minimizing the potential for construction delays, and positioning projects to begin on schedule. This proactive approach helps ensure the continued execution of the District's wildfire mitigation, reliability, and infrastructure modernization programs. Page 2 of 2 Page 11 of 225 TRUCKEE DONNER PUBLIC UTILITY DISTRICT MEETING DATE: July 1, 2026 FROM: Michael Salmon, Chief Financial Officer SUBJECT: Administrative Services Departments Update Customer Service - Billing Information — 2026 YTD May 2026 Account Billing Totals $ in thousands Electric Water Jan $ 3,720 $ 1,592 Feb 4,365 1,618 Mar 3,494 1,585 Apr 3,111 1,580 May 3,283 1,619 YTD $ 17,973 $ 7,994 Accounts (ytd avg) 14,887 13,779 change to PYytd avg. 0.3% 0.4% Page 1 of 6 Page 12 of 225 - Billing Volumes, All Customer Types — 2026 YTD May • Electricity YTD Avg Billed 2022 2023 2024 2025 2026 KWH f Account f 1,056 l,li0 1,075 1,053 994 Month -5.8% -15.0% -7.5% -5.6% <chg to 2026 kWh-perbilIirg day average by month M 2 6 and 3yrAverage(2023-2025) L�e€emberis tk-most reglaer:tPevkAemald�KN+JMoIr� ■3yr,�rerage ■2U26 GW,aao 5oa,oao A40pJ4 3n]p70 HOO,P70 LOOpJO F9 = Mar Apr vo., JJ9 Jul F_; Average billed kWh per account per month 1,397 1,200 V 1,1m 1,0M . i p 9°° r t 00 ' ! :00 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 2026 lo 2025 • 2024 • 2023 - 2022 • Electric kWh average per account per month of 994 is down 5.6% to last year and down 9.5% to 3-year average (3YA) o YTD May Truckee average temperature of 48.1° is T 0.70 or 2% to last year and T3.6° or 10% to 5-year average (5YA). ■ Jan Feb Mar of 2026 were warmer than 5YA by 9%, 13% and 38% respectively. ■ April avg.temp of 39.8°was cooler, 112% to last year and � 5%to 5YA ■ May avg.temp of 50.5° was 110% to last year and T 1% to 5YA Page 2 of 6 Page 13 of 225 o YTD May Heating Degree Days of 3,611 are 13% to last year and 113% to 5YA ■ April HDD of 757 were up 26% to last year and up 9% to 5YA ■ May HDD of 451 were up 60% to last year and down 3% to 5YA • Water gallons average per account per month of 3,768 is down 1.5% to last year and up 1.9% to 3YA. Gallons per day per account comparative is provided below. Water Gallons per Account per Billing Day Average by Month-Residential and Commercial Combined 600 505 Soo 428 400 300 267199 200126 128 111 120 115 119 114 115 147123 112 100 III III 111fi[ft339 - - Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec ■2026 ■2025 ■3yr Avg - Customer Service Satisfaction Scores — June 2026 Overall, how satisfied were you with the experience with our customer suppo.,. LJ Answered:15 Skipped:0 70% 60% 50% 40% 30% 20% 10% 0% Extremely Very satisfied Somewhat Not so satisfied Not at all satisfied satisfied satisfied Page 3 of 6 Page 14 of 225 How much time did it take us to address your questions and concerns? LJ Answered:15 Skipped:0 60% 40% 30% 20% 10% ()% Much shorter Shorter than About what I Longerthan Much Langer than expected expected expected expected than expected Please categorized the reason(s) for your service call LJ Answered:l0 Skipped:6 50% 40% 30% 20% 10% 0� Billing Payment New Service Power outage Water leak New question question or Stop Commercial Service to Service existing home Page 4 of 6 Page 15 of 225 Finance and Acccounting • Community Facilities District (CFD) Gray's Crossing - The two parcel sale agreement and options for potential new buyer working with CFD attorney • Closed and reported on May financials, Treasurer's Report completed. • July board meeting preparations • Electric's Rate Reserve information is provided below as follow up to 6/3 Board meeting. Rate Reserve YEAR Month Balance $ Change $ (2,360,000) Use/draw 2020 12 $ 5,938,528 $ 210,000 base funding @ budget 2021 12 $ 6,454,689 516,162 $ 475,763 CVPIA legal settlement funds 2022 12 $ 6,845,380 390,690 $ 130,053 Investment income 2023 12 $ 5,301,196 (1,544,184) A $ (1,544,184)A,2023 Change 2024 12 $ 5,996,206 695,010 B 2025 12 $ 7,207,040 1,210,834 c $ 130,000 base funding @ budget 2026 1 $ 7,383,272 176,232 $ 376,000 replenish funding @ budget 2026 2 $ 7,402,562 19,290 $ 189,010 Investment income 2026 3 $ 7,422,798 20,237 $ 695,010 B,2024Change 2026 4 $ 7,446,944 24,146 2026 5 $ 7,465,848 18,904 $ 164,000 base funding @ budget 2026 Change YTD May 258,808 D $ 376,000 replenish funding @ budget $ 194,329 Q1 PCA funding(May'25) RR Balance as of $ 237,900 03 PCA funding(Nov'25) Purch.Power Budget DC 50% Target May 2026 vs Target $ 238,605 Investment income 2025 $ 15,450,000 $ 7,725,000 $ (259,152) $ 1,210,834 C,2025 Change 2026 $ 14,412,000 $ 7,206,000 $ 259,848 2027 $ 14,969,000 $ 7,484,500 $ (18,652) $ 151,000 base funding @ budget(Jan) PP$excludes Conservation charged $ 107,808 Investment income(ytd) Renewabies(-$170k),as the cost is included in $ 258,808 D,2026 Change YTD the All Other Operating Expenses DC 50% Target • Work Orders/New Construction —YTD May 2026, variance to PYTD o New construction applications of 34, +16/89% o Panel Upgrades initiated of 26, -4/-10% o New Accounts created in CIS of 95, +22/30% ■ 2026 includes +55 for Pacific Crest Commons o Interconnetion initiated in EECP Solar of 6, -3/-33% o Work Orders Closed of 28, -11/-28% Page 5 of 6 Page 16 of 225 General Services • Fleet- Mileage Totals and Varince YoY Q1 Jan 18,477 -18% Feb 18,488 -13% Mar 19,177 -24% Q2 Apr 22,564 -9% May 21,752 -20% Jun Q3 Jul Aug Sep Q4 Oct Nov Dec YTD monthy decreases YoY are primarily in the Admin category o SMOG and weekly BIT inspections completed o CARB ACF and CTC, BAR reporting o Various fleet procurement planning specificaiton meetings, memos o Routine maintenance and support projects • Facilities o Asphalt replacements performed (Asphhlt maintenance slurry's -throughout summer) o Water tank painting o Lobby Hardnening Improvements — contract completion, site visit planning meeting with contractor held 6/11 o Routine maintenance and support projects • Various projects and procurements—memos, staff reports and bid doc preparations, as applicable Page 6 of 6 Page 17 of 225 r TRUCKEE DONNER 4o PUBLIC UTILITY DISTRICT MEETING DATE: July 1, 2026 FROM: Jillian Steward, HR & Risk Director SUBJECT: Human Resources and Risk Department Update Staffing Open Positions: • Electric Engineering Manager—Accepting applications • Mechanic — Candidates under review • Water Service Technician/Tech in Training — Interviews scheduled • HR Specialist — Interviews scheduled Culture • 7/01 — Fourth of July staff BBQ • 7/23 — Reno Aces Game Staff Development • 6/24 — District/Family Day Charging Communities Forward • 6/28 — Charging Communities Forward fundraising and event for Hike for Hope Safety and Risk 7/22 — Reporting Procedures & Accident Investigation Training Page 1 of 1 Page 18 of 225 e TRUCKEE DONNER 4o PUBLIC UTILITY DISTRICT MEETING DATE: July 1, 2026 FROM: Steven Poncelet, Public Information and Strategic Affairs Director Alex Spychalsky, Communications Program Manager SUBJECT: Public Information and Strategic Affairs Department Update Communications The District continues to execute on the District's 2026 Communications Plan with increased outreach on wildfire mitigation and preparedness now that Truckee has fully entered wildfire season. This includes communications on the potential for wildfire safety power outages (including the District's new Preemptive Power Shutoff) and ensuring the District has contact information to notify our customers and community members who sign up. Staff also continue to work on awareness and education on the upcoming Making Water Conservation a California Way of Life regulation and are now preparing for a conservation garden event in late summer/early fall. The District continues to partner with the Tahoe Truckee Community Foundation (TTCF)on our annual scholarships for both college bound seniors and workforce/vocational certification. District Board President Tony Laliotis and Board Director Christa Finn participated in the scholarship award ceremony on June 1, 2026. As of the time of the District Board meeting on July 1 s', the new District website (vvww.tdpud.orc ) will be launched. District staff are working on a press release and other outreach materials to raise awareness and promote the new website which has, in addition to all of the modern features and design, an improved navigation and layout to improve the user experience. Strategic Affairs District staff continues to engage in Sacramento and Washington, D.C. regarding a wide variety of issues as the legislative sessions continue. Wildfire remains a major issue at both the State and Federal level with ongoing discussions regarding wildfire mitigation, liability, and overall regulatory reform. At the state level, District staff continue to engage with the Wildfire Safety Advisory Board (WSAB staff)to discuss the District's efforts to complete an update of our Wildfire Mitigation Plan which is on track for submittal to the WSAB by October 1 , 2026. WSAB staff have also reached out to the District requesting a tour of District wildfire facilities and activities in early September(exact dates to follow)as part of a WSAB Board meeting being held in South Lake Tahoe. There has also been significant activity regarding the California Air Resources Board's Advanced Clean Fleets regulation. CARB staff have issued yet another 15-day language package which, along with a significant list of existing concerns that have been documented over the last few years, the current regulation now has a provision that would Page 1 of 2 Page 19 of 225 require all private fleets that have contracts with public agencies to be required to comply with the ACF regulation (currently, Private Fleets are not required to comply, only Public Fleets). This significant change could put at risk the District's current contracts for wildfire mitigation/vegetation management along with the on-call electric line crews/trucks along with other future district needs to contract with public fleets. District staff are working closely with our joint-action groups to educate on the negative impacts and advocate for changes, and the District was used specifically as a example in a joint comment letter from California Municipal Utilities Association, Northern California Power Agency, and Southern California Public Power Association which is attached. Page 2 of 2 Page 20 of 225 SCPPA A PUBLIC AGENCY CMUA NCPA _ CALIFORNIA MUNICIPAL UTILITIES Southern California NORTHERN CALIFORNIA POWER AGENCY A S S O C I A T I O N Public Power Authority June 16, 2026 1 Submitted electronically Chair Lauren Sanchez And Members of the California Air Resources Board 1001 1 Street Sacramento, CA 95814 RE: Comments on Second 15-Day Changes to the Advanced Clean Fleets Regulation Chair Sanchez and Members of the Board: The California Municipal Utilities Association(CMUA)',the Southern California Public Power Authority(SCPPA)2, and the Northern California Power Agency(NCPA)3(collectively,the Joint Public Agency Utilities)appreciate the opportunity to provide feedback to the California Air Resources Board ("CARB")staff on the proposed amendments("Second 15-day changes")to the Advanced Clean Fleets("ACF") rule, posted June 1, 2026. The Second 15-day changes present significant concerns for public agency utilities.The Joint Public Agency Utilities reiterate our commitment to continued engagement and working collaboratively on implementation and additional future updates to the ACF in a subsequent rulemaking that reflects the market evolution and upholds the intent of AB 1594(Garcia, 2023).The Joint Public Agency Utilities provide the following comments in response to the Second 15-day changes,which will be further detailed below. I. The Second 15-day changes are a substantial expansion of the existing regulation and risk interrupting necessary utility operations conducted through contracts.The Joint Public Agency Utilities urge CARB to withdraw in its entirety the Second 15-day changes, and reissue and approve the 15-day changes proposed in April, 2026 ("First 15-day changes"). a. Prior to CARB adopting additional regulatory requirements for contracted fleets, public agencies must be afforded sufficient opportunity and notice to provide feedback on the scope, costs, and impacts of such a regulatory approach. The California Municipal Utilities Association is a statewide organization of local public agencies in California that provide electricity,gas,water,and wastewater service to California consumers.CMUA membership includes publicly owned electric utilities that operate electric distribution and transmission systems that provide approximately 25 percent of the electric load in California and water and wastewater agencies that serve approximately 75 percent of California water customers. 2 The Southern California Public Power Authority(SCPPA)is a joint powers authority whose members include the cities of Anaheim,Azusa,Banning,Burbank,Cerritos,Colton,Glendale,Los Angeles,Pasadena,Riverside,and Vernon,and the Imperial Irrigation District.SCPPA Members are local publicly owned electric utilities that serve nearly 2.3 million California homes and businesses over 9,000 square miles. 3 The Northern California Power Agency(NCPA)is a nonprofit California joint powers agency established in 1968 to construct and operate renewable and low-emitting generating facilities and assist in meeting the wholesale energy needs of its 16 members:the Cities of Alameda,Biggs,Gridley,Healdsburg,Lodi,Lompoc,Palo Alto,Redding,Roseville,Santa Clara,Shasta Lake,and Ukiah,Plumas-Sierra Rural Electric Cooperative,Port of Oakland,San Francisco Bay Area Rapid Transit(BART),and Truckee Donner Public Utility District—collectively serving nearly 700,000 electric consumers in Central and Northern California. Page 21 of 225 II. Durable guidance, in addition to ongoing engagement with public agency utilities, is needed to alleviate implementation issues and identify improvements for a follow-up rulemaking. a. The guidance document requires revisions that clarify that the scope of the provisions is limited to contracted vehicles operated by the public agency.This should also be reflected in the Final Statement of Reasons (FSOR). III. Timely adoption of improvements to the ACF rule that capture ZEV market realities and address the intent of AB 1594 is critical. These comments are provided in addition to several outstanding concerns, addressed in the April 17, 2026, comments.4 I. The Second 15-day Changes are Substantial Expansion and Risk Interruptions to Utility Operations,and Therefore Should be Withdrawn New Contracted Fleet Provisions Risks Operational Interruptions Including contracted vehicles in the rule, as proposed in the Second 15-day changes is an expansion of the scope that would have significant and complicated impacts on public fleet operations and corresponding impacts on ratepayers.These changes would impact the ability of public agency utilities to prepare for and respond to safety issues and emergency situations. For example, impacted contracts can impact emergency response and wildfire mitigation efforts like vegetation management.These contracts could be canceled or delayed due to this proposal, directly impacting safety and reliability, as well as public safety and emergency response.The consequences will be felt almost immediately, as public agencies grapple with which existing contracts may impact the fleet's procurement requirement, and as public agencies attempt to enter into new contracts for services. Furthermore, public agencies make regular investments in utility infrastructure projects, many of which require the support of contracted vehicles. Due to the substantial and unclear nature of the proposed changes, public agencies may need to pause, cancel, or delay existing contracts that involve vehicle operation as they assess the corresponding impact on ACF compliance. Public agencies comply with public contracting processes, and at times are already challenged to locate contractors willing and able to comply with prevailing requirements. For public agency utilities, many contracted services are very specialized, and there are limited options for contracting for those services.The addition of new fleet requirements on contractors will only compound that challenge.Additionally,the new contracted vehicle provisions are likely to increase the costs of contracted services,from a combination of increased compliance costs(including the potentially significant administrative burden to track and monitor fleet vehicle specifications for third party vendors over which the public agency has no operational control), increased reporting, and a decrease in the pool of contractors willing and able to contract with public agencies.This can result in higher costs being passed through to public agency utility customers.These impacts can be felt more keenly in rural areas. For example, rural and remote utilities, like TDPUD, already face challenges based on geographical location and dependency on contracted services within a limited 4 Joint POU comments,submitted April 17,2026 https://scs-public.s3-us-gov-west- 1.amazonaws.com/env_production/oid377/did200185/pid_214073/assets/attachments/61571/d40ui1 gfu8b_ document.pdf?v=13512 2 Page 22 of 225 pool of available vendors,that would be further constrained by additional contracting requirements imposed by the Second 15-day changes. Public agency utilities that provide critical services in the Truckee-Tahoe Basin,Sierra and Plumas Counties would be further constrained in efforts to secure annual construction, maintenance and special services contracts, likely resulting in higher costs and longer lead times and may be entirely unavailable during winter severe weather conditions. These contracts reflect routine,"business-as-usual"operations necessary to maintain essential public services.Any disruption or added uncertainty in these agreements risks compromising emergency response,wildfire mitigation efforts, and the delivery of safe, reliable, affordable drinking water and electricity.Accordingly, changes affecting contracted vehicles should be carefully evaluated and implemented prospectively to avoid unintended impacts. Examples of Contracts Impacted The contracts potentially being impacted by the new contracted vehicles provisions are diverse and reflect the typical types of services contracted by public agency utilities.The following is a sampling of the contracted services that would be impacted by the new contracted vehicle provisions proposed in the Second 15-day changes. • Emergency Response • Vegetation management • Substation repair and construction • Transmission and distribution maintenance, operations, repair, construction, installation • Inspections of equipment, distribution and transmission lines, pipelines, sewers • Construction (e.g. buildings, EV chargers,water tanks,trenching) • General electrical contractors • On-call crane services • Methane leak surveying • Natural gas line inspections • Regional water quality control plant emissions testing • Well drilling • Meter upgrades and installation services • Water main repair or replacement • Mail services • Uniform cleaning services • Pest management • Portable restroom services • Deliveries, including: o Utility equipment(e.g.transformers) o Powerplant equipment(e.g.turbines) o Precast underground concrete vaults, pads, and lids o Specialty off-road vehicles o Chemicals o Meals 3 Page 23 of 225 The Current Regulatory Text Did Not Explicitly Include All Contracted Fleets There is a clear distinction between the regulatory provisions impacting vehicle rentals/leases and the new provisions for contracted vehicles. CARB's 2023 rulemaking stated,"It is necessary to set forth who is presumed to be the owner in rental and leasing arrangements because CARB needs to know who is claiming responsibility for compliance of the rented or leased vehicles. It is common practice in the industry to engage in long term lease contracts of more than one year during which the fleets may have full control over the vehicle.... It is necessary to apply this clause to contracts of a year or longer because rental or leasing entities would not have operational control over vehicles in such agreements." s As currently written,the Regulation limits the procurement requirement to rented or leased vehicles that a public agency has"full control over"and the rental or leasing entity does not have "operational control over vehicles."Conversely,the proposed addition of"contracted vehicles"fails to address important considerations regarding the public agency's ability to control the contracted- for vehicles.The proposed amendments set forth in the Second 15-day language fail to address how to limit the compliance requirements for contracted vehicles or services—there is no guidance or direction on how much control the public agency has over the vehicle or whether the contractor maintains operational control. The New Provisions Introduce a Substantial Change to the ACF The Joint Public Agency Utilities have maintained that it is imperative the ACF rule does not compromise emergency response and electric grid or water systems maintenance.While the Joint Public Agency Utilities hope to address our ongoing concerns with the ACF through a future rulemaking, in collaboration with CARB,we are compelled to acknowledge that the proposed Second 15-day changes is a substantial change to the ACF Regulation not previously noticed and contemplated during the rulemaking and would have significant, adverse impacts as described above.. Despite the characterization of this change as"clarifying,"the extent of the changes, especially given the vague and ambiguous nature of the proposed text, exceeds the scope of the fleets previously subject to the ACF procurement requirements.The previous versions of the ACF (both those adopted in 2022 and the 45-and First 15-day version of the 2025 regulation) limit the word"contract"to vehicle purchase agreements or rental/lease agreements.While the regulation does address the hiring of compliant fleets,those provisions are limited to the hiring or dispatch of fleets subject to the ACF, and required verification and reporting of such arrangements.The proposed amendments in the Second 15-day changes goes well beyond this construct, resulting in a marked expansion of the number of vehicles and fleets captured by the ACF. By requiring public agency fleets to take on anew compliance obligation for contracted vehicles,whether or not those vehicles are otherwise subject to the ACF, introduces a new concept that was not previously addressed during the 2023 rulemaking or the 2025 rulemaking to date. This is in contrast to CARB's Innovative Clean Transit(ICT) regulation,which explicitly included "contracts with another entity to operate buses in California,"and included that provision in the initial draft of the regulation posted in 2018.E Entities regulated by the ICT were provided clear 5 Appendix H1, Purpose and Rationale for State and Local Government Fleet Requirements, page 13 https://ww2.arb.ca.gov/sites/default/files/barcu/regact/2022/acf22/apph 1.pdf 6 CCR 2023(a)(1) 4 Page 24 of 225 notice of the proposal to include contracted vehicles during the ICT rulemaking process. CARB also limited the type of contracts subject to the ICT to the operation of buses, but the Second 15-day changes for ACF include no such narrowing in scope. Because"contracts for the operation of"vehicles was not previously considered in the rulemaking, there has been no real consideration of how many vehicles might be captured by the new contracting provisions, how those contracts would be structured, and what the impacts of the vehicles would be on both the public agencies and the contractors. Including All Contracted Fleets Will Impose Significant Administrative and Reporting Burdens The proposed changes in the Second 15-day changes would impose significant administrative burdens on public agencies. While public agencies already keep records of contracts, contracts for services typically don't include details on vehicles used for those services unless the vehicle is being specifically operated by the public agency. For many service contracts, public agencies may oversee the work being done but typically do not specify nor track which vehicles the contractor uses. Even for contracts involving operation and dispatch,the contract does not include vehicle details to the level required within the Truck Regulation Upload, Compliance, and Reporting System (TRUCKS). In order to meet the new contracted vehicle provisions included in the Second 15-day changes, public agencies will need to review each and every contract that includes"services using vehicles" to assess what the compliance impact will be for the public agency.The process of identifying and collecting information on each contractor's vehicles will add considerable administrative burden for public agencies (with associated cost impacts), not just for reporting for ACF, but in order to determine how those contracts impact the agency's compliance obligation as well as its current and future vehicle procurement plans. Because the contracted fleets will now impact the public agency's own compliance requirements, the public agency's own purchases of vehicles will be impacted.Vehicle purchase plans and agreements,which are often developed through a multi-year process,will all need to be revisited and revised in light of the resulting expansion of public agency fleets to include contracts.The new contracted fleet provisions place an entirely new compliance burden on public agencies for the vehicles being used by private fleets,which a public agency may have little or no ability to influence or control. Amendments to the Hiring Compliant Fleets Provisions The Joint Public Agency Utilities appreciate the clarification of the Hiring Compliant Fleets Section 2049. Unlike the other changes in the Second 15-day changes,which added expansive new requirements,the amendments to Section 2049 clarified that the Hiring Compliant Fleets section applies only to the hiring or dispatch of state and local government fleets.The Joint Public Agency Utilities believe this was already intended by Section 2049, as it only applied to fleets subject to the ACF rule. The Joint Public Agency Utilities do wish to clarify whether Section 2049 applies to private fleets who hire or dispatch state or local government agencies. 5 Page 25 of 225 Questions on the Second 15-day Changes The extent of the new contract provisions is particularly significant, given the potential reach. It is not possible at this time for public agencies to determine the entirety of implications and impact on fleet operations, as multiple interpretations could arise from the 15-day changes.The following is a list of questions that must be answered to allow public agencies to assess the new changes and plan for compliance, and potential impacts of the provisions based on different interpretations of the new provisions. 1. In the definition of"Fleet Owner,"what does"contracts for the operation of"mean, and why is that considered ownership? CARB does not provide any specificity in the Second 15-day changes as to what sort of"contracts for the operation of"vehicles is covered by the new provisions.The proposed change is vague and ambiguous and fails to make the necessary distinction between"contracting for the operation of vehicles"versus"contracting for services." This could potentially include any sort of service, such as construction, maintenance, inspections, direct install programs for efficiency and electrification measures benefitting low-income customers, or even package deliveries.These contracts could be for on-going services,for as-needed services,for seasonal services, or services that only occur once.The public agency might be dispatching the vehicles or alternatively may have no control over what vehicles are being operated, by whom, or when. CARB's amendments leave the language broad enough that almost any service that involves a vehicle could be implicated and then places the entire compliance burden upon the public agency. The definition of"Fleet Owner"states that the owner shall be"presumed"to be the person or entity registered with the DMV, except for specific rentals or lessees or finance leases.The definition clearly contemplates vehicle leases and explicitly defines the responsible party by a specified duration of the agreement with the public agency.The definition goes on to clarify the responsible party for financed vehicles, clearly establishing the entity with compliance responsibility.The proposed amendments in the Second 15-day changes would expand the definition of fleet owner to add a person or entity that"rents, leases, operates, or contracts for the operation of"the vehicles comprising the fleet. However, unlike the existing regulation that clearly defines the responsible entity and"ownership"types,the proposed changes fail to address the specific situation of "contracts for the operation of"vehicles.There are no definitions or parameters around the proposed addition that would clarify the types of arrangements that would be included. If a public agency is contracting with a third party for the operation of the third party's vehicles, operated by the third party,then the public agency will not be the registered owner. Furthermore, unlike the existing regulatory language that clarifies"rented or leased"and the duration of the relationship to clarify the public agency's compliance responsibility under the ACF,the Second 15-day changes include no such clarifying language.There is a disconnect between how ownership is typically treated within the ACF, and the recent addition of"contracts for the operation of"included in the Second 15-day changes. 2. The definition of"Vehicle purchase"does not include contracted vehicles—is that because a"vehicle purchase"counts towards the procurement requirement when the contracted fleet owner purchases a vehicle, same as if a public agency is purchasing a vehicle?Or are contractors'vehicles deemed part of public agency's fleet when the public agency enters into a new contract, and treated like new purchases? 6 Page 26 of 225 CARB added"contracts for the operation of"vehicles to the fleet definition and fleet owner definition, however,there is no language that clarifies or explains what sort of contracting triggers a procurement requirement obligation, and how that obligation needs to be met. Prior to these amendments, public agencies had to report any purchases or new rentals/leases and then had to demonstrate that at least 50%of those purchases were ZEV or exempt.The proposed amendments fail to address how contracts might impact a public agency's ACF compliance requirements.This lack of clarity in the proposed regulatory text leaves public agencies with no information on how to structure contracts in the future to account for a new ACF requirement on third-party fleets that are otherwise not regulated by the ACF.The ambiguity begs the questions of whether the entire fleet of a contractor is now considered to be new vehicles within a public agency's fleet or whether it is just the contractor's vehicles specifically providing services to the public agency. It is also unclear whether a public agency would only have to report changes to the contractor's fleet. 3. If a public agency is contracting for the operation of vehicles, and the contractor only has ICE vehicles available, or needs to purchase a new ICE vehicle, is the public agency expected to submit exemption requests on behalf of the contracted fleet? Declaring that a contractor's fleet is now part of the public agency's fleet leaves the public agency with an expansive new compliance obligation,without operational control over the contractor's fleet composition. Existing contracts for the operation of vehicles do not include any terms or provisions addressing ACF compliance requirements, as the existing compliance requirements are clearly defined in the definition of"fleet owners"and the explanations related to rental or lease agreements of more than a year.The proposed changes in the Second 15-day changes would require public agency contracts to include provisions addressing ACF compliance obligations for vehicles not within the control of the public agency and fleets outside the scope of the ACF.This would require new or revised contracts, and private firms may not be interested in contracting with a public agency if that results in new ACF requirements being placed on them.This proposed change can interfere with the public process of finalizing contracts and starting work based on the timeline needed for exemptions to be approved.Taken to the extreme interpretation, contracted fleet's vehicles could technically be the public agency's fleets under the proposed changes, meaning that the public agency would be required to report to CARB specifically what vehicles are being operated, and whether or not there is a ZEV option available for fleet vehicles that they neither own nor control. 4. Is there a minimum length of contract for the operation of a vehicle that is covered by the new contracted language? The current definition of fleet owner clearly defines the compliance obligations for rental or leased fleets.The ACF applies only to rental or lease agreements that are at least one year long. However, the definition of"Vehicle Purchase"was not modified to add a time limit for how long a contract for vehicles or vehicles providing services would need to be to be considered as part of a public agency's fleet. Without any temporal considerations, public agencies would need to report every single contract that involves the use of vehicles as part of the public agency's fleet, even if the contracted work is for only one day. Combined with the requirement to report any changes to our fleets within 30 days, we could be constantly updating our fleet count as contracts start and end, assuming the actual 7 Page 27 of 225 vehicle owner timely provided the necessary information to the public agency.And with that interpretation,there is a lack of clarity on how an annual vehicle purchase requirement would work. Even applying a one year minimum to the"Vehicle Purchase"definition, public agencies would still be left reporting an overwhelming number of contracts as part of fleets that they do not own, rent, or lease, and ultimately, do not control. Due to the involved procurement process for public agencies, contracts are often structured with a multi-year term, even if the work provided is on an as-needed basis or seasonally.The length of the contract may have little correlation with the actual number of hours and regularity of the services being provided. Further exacerbating the challenge is the fact that the proposed language does not distinguish between contracting for vehicles and contracting for services that include vehicles. 5. If private fleet is contracted by multiple public agencies to operate vehicles with overlapping contract terms, would all the contracting public agencies consider the private vehicles part of their fleet? Because there are no temporal limits to the contracts being reported for the public agency,there's a distinct possibility that more than one public agency will be utilizing the same contractor for services during the same timeframe. Based on the overly broad provisions for contracted fleets, public agencies will be left double counting the contractor's vehicles in their fleet, and both shouldering the compliance burden. 6. If an existing contract is renewed and includes other amendments beyond the extension of the term, would the contract still be considered a renewal, or would it be considered a new contract? The Second 15-day changes would amend the"Vehicle Purchase"definition to specify that renewing a"service contract agreement"would not be considered a vehicle purchase, but, as stated above, does not clarify what sort of contract action would be considered a vehicle purchase. It is not clear whether this provision only applies to renewals of the same exact contract terms, or whether public agencies be able to make other modifications through the renewal process without triggering a new contract. 7. Are subcontractors included? Contracts may include subcontracting for the operation of vehicles. For example, a public utility may order transformers through a contractor,who then subcontracts for the delivery because of the need for specialty delivery trucks. Or, a public utility may contract for the construction of a building and subcontract out for part of the work. It is not clear from the language whether the subcontractors'vehicles would also be considered part of the public agency's fleet. 8. Does"contracts for the operation of"vehicles include delivery services? If a public agency is contracting for equipment, materials, or lunch, and the contract includes delivery of the contracted item(s), it is not clear whether the delivery vehicle is then considered part of the public agency's fleet. Without further clarification,the new provisions could inadvertently cause a public agency to need to report for Amazon's entire fleet. 8 Page 28 of 225 9. If a privately owned company—e.g., PG&E, SCE,AT&T—requested mutual aid from a public agency, would they face penalties if the public agency wasn'tACF compliant? Under Section 2049 for the Hiring of Compliant Fleets,the second 15-day changes clarify that entities only need to verify compliance for entities subject to the ACF,which is currently limited to state and local government agencies. However,the requirements of the provision appear to go beyond just public agencies, and instead tasks any entity either hiring or dispatching a public agency to verify the agency's compliance with the ACF. Based on these provisions, it appears that a privately owned company would need to restrict the dispatch of public agencies for purposes of mutual aid and emergency response to only those public agencies currently in compliance with the ACF,with little or no way to confirm such information in the midst of an emergency. II. Durable Guidance, in Addition to Ongoing Engagement With Public Agency Utilities, is Needed to Alleviate Implementation Issues and Identify Improvements for a Follow-Up Rulemaking CARB's stated intent in the Guidance that was posted alongside the Second 15-day changes, and directly communicated with the Joint Public Agency Utilities,to emphasize flexibility, education, and case-by-case support during early ACF implementation, is appreciated and aligns with the collaborative approach needed for such a complex transition. However,the intent is currently conveyed through informal webpage guidance,which lacks the durability and clarity necessary for public agencies to rely on, particularly given that the regulatory text itself remains prescriptive and may still expose public agency utilities to consequences despite good-faith compliance efforts.We respectfully request that CARB formalize this commitment by codifying its enforcement posture through regulatory revisions and a durable, publicly issued enforcement policy to ensure transparency, consistency, and confidence as agencies navigate early implementation of the ACF rule. Guidance revisions are needed that, at a minimum, clearly state only contracted vehicles under Long-term arrangements that are directly operated by the public agency are considered part of the public agency's fleet.Such an approach would be in line with the regulatory requirements for vehicle rentals and leases. The Joint Public Agency Utilities are committed to maintaining ongoing collaboration with CARB following adoption of the ACF rule, including regular check-ins to discuss implementation progress, challenges encountered, and opportunities for alignment.These engagements would provide a forum to share operational insights, showcase vehicles as appropriate, and facilitate direct, in- person dialogue with CARB staff and fleet subject matter experts.Such continued coordination will help ensure the rule is implemented effectively and efficiently while addressing necessary clarifications and updates based on real-world conditions. III. Timely Adoption of Improvements that Capture ZEV Market Realities and Address the Intent of AB 1594 is Critical Public agency utilities remain committed to fleet electrification where feasible. California's public agency utilities are taking aggressive action to advance the state's policy of delivering 100%clean energy by 2045, and are exceeding it in many cases. Several public agency utilities,together with their cities, have already adopted more ambitious timelines that achieve 100%clean energy years 9 Page 29 of 225 ahead of the statewide target. For example, Los Angeles is pursuing a pathway to achieve 100% carbon-free power supply by 2035 through their LA100 Plan.These actions will deliver substantial greenhouse gas (GHG)emissions reductions in furtherance of CARB's objectives.To meet these goals, public agency utilities must carefully balance infrastructure investment, equipment needs, ratepayer affordability, and long-term planningwhile maintaining flexibility to respond to unforeseen conditions. It is therefore critical that public agency utilities retain access to the full range of vehicles necessary to maintain and enhance electric grid and water system reliability during this transition, support ongoing operations, and effectively respond to emergencies, including wildfires. This ACF rulemaking was initiated to implement the provisions of AB 1594(Garcia, 2023)which required the rule to accommodate unique utility operations and emergency response, procurement requirements for vehicles"...needed to maintain reliable service and respond to major foreseeable events, including severe weather,wildfires, natural disasters, and physical attacks, as specified" and recognize that ZEV procurement plans should be"reasonably tailored"for each public agency utility.This rulemaking is particularly important to public agency utilities because it incorporates several changes developed through extensive collaboration with CARB that address implementation and feasibility concerns identified by concerned stakeholders. Many of the revisions included in the First 15-day changes represent meaningful improvements to the regulation, especially those that better support emergency response needs for public electric, water,wastewater, and gas utility fleets, and they demonstrate CARB's willingness to refine the rule based on stakeholder feedback. Notably,the Joint Public Agency Utilities appreciate CARB's decision to delay the 100%ZEV purchase requirements from 2027 to 2030, as this additional time more closely aligns the rule with current market conditions and enables more feasible procurement planning. It is vital that the revised compliance timelines, and several other important improvements included in the First 15-day changes to the ACF rule, are finalized and allowed to take effect in a timely manner. There are many real-world constraints currently affectingthe ZEV market. Recent federal policy shifts have introduced significant uncertainty in ZEV markets, including the expiration of federal EV purchase incentives,the freezing or rollback of key infrastructure and emissions programs, and broader regulatory changes that are expected to slow ZEV adoption nationwide.At the same time, several vehicle manufacturers have delayed, scaled back, or discontinued planned ZEV investments, limitingvehicle innovation, affordability, and availability.These developments underscore the importance of aligningfleet transition requirements with actual market conditions, technological readiness, and sustained policy support, particularly for specialized vehicles that public agency utilities rely on. Ongoing uncertainty related to vehicle availability, delivery timelines, infrastructure readiness, incentive funding, and vehicle maintenance and performance in demanding operational conditions highlights the need for flexibility so that the ACF rule can be implemented in a manner that reflects market realities while supporting the essential public services provided by public agency utilities. It is therefore critical that CARB timely finalizes regulatory amendments within the timeframe of this rulemaking, and as directed by the Board,to implement the provisions in the First 15-day changes to delay purchase requirements for small and rural fleets, delay the 100%purchase requirement until 2030, and add additional flexibilities in line with AB 1594. However,the substantial expansion of the regulation proposed in the Second 15-day changes poses significant challenges and concerns and should be rescinded in a manner that allows CARB to meet its regulatory timelines 10 Page 30 of 225 for implementing the previously proposed changes. If CARB believes some portion of contracted fleets should be covered by public agencies under the rule,that should be proposed and evaluated with stakeholder input as part of a subsequent rulemaking process. Given the feedback in this letter, and previous engagement with CARB,we urge CARB to begin a subsequent rulemaking as soon as possible to address our outstanding concerns and before any punitive enforcement actions are contemplated. Elisabeth de Jong Government Affairs Manager Southern California Public Power Authority(SCPPA) 915 L St., Suite 1410 Sacramento, CA 95814 Emily Lemei Customer Programs Manager&Regulatory Affairs Northern California Power Agency(NCPA) 651 Commerce Drive Roseville, CA 95678 Derek Dolfie Senior Director of Energy California Municipal Utilities Association (CMUA) 915 L Street,Suite 1210 Sacramento, CA 95814 11 Page 31 of 225 TRUCKEE DON N ER AGENDA ITEM #8 PUBLIC UTILITY DISTRICT MEETING DATE: July 1, 2026 TO: Board of Directors FROM: Martina Rochefort, District Clerk/Executive Assistant SUBJECT: Board Meeting Minutes /) r APPROVED BY: Brian C. Wright, General Manager RECOMMENDATION: Consider approval of June 3, 2026 Board Meeting Minutes BACKGROUND: Draft June 3, 2026 Meeting Minutes are attached for review. ANALYSIS AND BODY: GOALS AND OBJECTIVES: District Code 1.05.020 Objectives: 1. Responsibly serve the public. 6. Manage the District in an effective, efficient and fiscally responsible manner. FISCAL IMPACT: ATTACHMENTS: 1. Minutes 2026-06-03 DRAFT Page 1 of 1 Page 32 of 225 TRUCKEE DONNER PUBLIC UTILITY DISTRICT REGULAR BOARD MEETING MINUTES TDPUD BOARD ROOM, 11570 DONNER PASS ROAD, TRUCKEE, CA 6:00 PM, WEDNESDAY, JUNE 3, 2026 1. Call to Order Meeting was called to order at 6:00 p.m. 2. Roll Call Directors Present: Jeff Bender, Christa Finn, Vice President Courtney Murrell and President Tony Laliotis Staff in attendance: Brian Wright, General Manager; Scott Crow, Assistant General Manager/Chief Information Officer; Mike Salmon, Chief Financial Officer; Mike Swanson, Director of Electric Operations and Engineering; Jillian Steward, Director of Human Resources & Risk Management; Melanie Rives, Finance & Accounting Manager; TJ Dwyer, Water Operations Manager; Neil Kaufman, Water System Engineer; Alex Spychalsky, Communications Program Manager; Trey Griffin, Senior Network & Systems Administrator; Tracy Pearson, Accounting Supervisor; Martina Rochefort, District Clerk/Executive Assistant Other: Keith Simovic of Baker Tilly Absent: Director Steve Randall 3. Pledge of Allegiance Director Murrell led the Pledge of Allegiance. 4. Changes to the agenda No changes were made to the agenda. 5. Public Comment Public comment was received from Megan Harwood and Mike Witherspoon. DIRECTOR UPDATE 6. Director Finn attended Climate Transformation Alliance governing partners meeting, attended the Truckee High School scholarship evening to present the District's scholarship, met with the Town of Truckee mayor and Town Manager to discuss local resources, attended SB 827 fiscal training through CSDA. Director Finn shared she plans to run for re-election. Director Laliotis also attended the Truckee High School scholarship event and CSDA Fiscal Training. Director Laliotis will also run for re-election. DEPARTMENT UPDATES 7. Department updates were received from Mike Swanson, Director of Electric Engineering & Operations; Alex Spychalsky, Communications Program Manager; and Jillian Steward, Director of Human Resources and Risk Management. 1 Page 33 of 225 TRUCKEE DONNER PUBLIC UTILITY DISTRICT REGULAR BOARD MEETING MINUTES TDPUD BOARD ROOM, 11570 DONNER PASS ROAD, TRUCKEE, CA 6:00 PM, WEDNESDAY, JUNE 3, 2026 PUBLIC HEARING 8. Conduct Public Hearing Regarding Adoption of the Truckee Water System 2025 Urban Water Management Plan Conduct a Public Hearing and consider adoption of the Truckee Water System 2025 Urban Water Management Plan (UWMP). Neil Kaufman, Water System, presented the item. Public Hearing opened at 6:38 p.m. No public comment was received. Public Hearing closed at 6:39 p.m. Discussion was held. ACTION: Motion made by Director Bender to adopt the 2025 Urban Water Management Plan by ratifying Resolution 2026-12, seconded by Director Finn. AYES: Bender, Finn, Murrell and Laliotis NAYS: none ABSTAIN: none ABSENT: Randall Motion passed. CONSENT CALENDAR 9. Board Meeting Minutes Consider approval of the May 6, 2026 Board Meeting Minutes 10. Treasurer's Report, June 2026 Consider Approval of the Treasurer's Report for June 2026 including: a. Fund Balances for the Month of March 2026 b. Disbursements for the Month of April 2026 11. Consideration of a Contract With Industrial Electrical Company for Electric Motor Repair Services Authorize the General Manager to execute a contract and associated documents with Industrial Electrical Company for water utility electric motor repair services for a total amount not to exceed $90,000. 12. Consideration of Annual Resolutions for Special Tax: Gray's Crossing and Old Greenwood Communities Facilities Districts 2 Page 34 of 225 TRUCKEE DONNER PUBLIC UTILITY DISTRICT REGULAR BOARD MEETING MINUTES TDPUD BOARD ROOM, 11570 DONNER PASS ROAD, TRUCKEE, CA 6:00 PM, WEDNESDAY, JUNE 3, 2026 a) Adopt Resolution 2026-10 requesting Nevada County to collect the special taxes for the Gray's Crossing 04-1 Community Facilities District; and b) Adopt Resolution 2026-11 requesting Nevada County to collect the special taxes for the Old Greenwood 03-1 Community Facility District. 13. Consideration of Appointing Brian Wright as Northern California Power Agency (NCPA) Commissioner Appointment Appoint Brian Wright, General Manager, as the District's designee for Northern California Power Agency (NCPA) Commissioner. Director Bender recused himself from item 12 for a real property interest. ACTION: Motion made by Director Finn to approve the Consent Calendar as presented, seconded by Director Murrell. AYES: Bender, Finn, Murrell and Laliotis NAYS: none ABSTAIN: none ABSENT: Randall Motion passed. ACTION ITEMS 14. Consideration to Accept the Audited Financial Report for FY25. Accept the Audited Financial Report for the fiscal year ending December 31 , 2025 and direct staff to file the record. Michael Salmon, Chief Financial Officer, and Keith Simovic of Baker Tilly, presented the item. No public comment was received. Discussion was held. ACTION: Motion made by Director Finn to accept the Audited Financial Report for the fiscal year ending December 31, 2025 and direct staff to file the record, seconded by Director Bender. AYES: Bender, Finn, Murrell and Laliotis NAYS: none ABSTAIN: none ABSENT: Randall Motion passed. 15. Consideration to Approve the District's 2025 Water Utility Annual Consumer Confidence Reports Review the Truckee Donner Public Utility District's Main System and Hirschdale System's 2025 Water Quality Consumer Confidence Reports and provide feedback to staff and direct staff to file with the State Water Resource 3 Page 35 of 225 TRUCKEE DONNER PUBLIC UTILITY DISTRICT REGULAR BOARD MEETING MINUTES TDPUD BOARD ROOM, 11570 DONNER PASS ROAD, TRUCKEE, CA 6:00 PM, WEDNESDAY, JUNE 3, 2026 Control Boards. TJ Dwyer, Water Operations Manager, presented the item. No public comment was received. Discussion was held. ACTION: Motion made by Director Bender to review the District's Main System and Hirschdale System's 2025 Water Quality Consumer Confidence Reports, provide feedback to staff and direct staff to file with the State Water Resources Control Board, seconded by Director Finn. AYES: Bender, Finn, Murrell and Laliotis NAYS: none ABSTAIN: none ABSENT: Randall Motion passed. 16. Consideration of Approval of a 2026 Q1 Power Cost Adjustment of$0.0019 charge per kWh Billed in June 2026, July 2026, and August 2026. Approve the Power Cost Adjustment for 2026 Q1 of$0.0019 charge per kWh billed in June 2026, July 2026 and August 2026. Chief Financial Officer presented the item. No public comment was received. Discussion was held. ACTION: Motion made by Director Finn to approve the Power Cost Adjustment for 2026 Q1 of $0.0019 charge per kWh billed in June 2026, July 2026 and August 2026 as presented, seconded by Director Murrell. AYES: Bender, Finn, Murrell and Laliotis NAYS: none ABSTAIN: none ABSENT: Randall Motion passed. 17. Consideration of a Multi-Year Support Contract for Firewalls with ePlus Authorize the General Manager to execute a 3-year support contract and associated documents for District firewalls with ePlus using a joint purchasing agreement in the amount of $261 ,651.44. Scott Crow, Assistant General Manager/Chief Information Officer, presented the item. No public comment was received. Discussion was held. ACTION: Motion made by Director Bender to authorize the General Manager to execute a 3-year support contract and associated documents for District firewalls with ePlus using 4 Page 36 of 225 TRUCKEE DONNER PUBLIC UTILITY DISTRICT REGULAR BOARD MEETING MINUTES TDPUD BOARD ROOM, 11570 DONNER PASS ROAD, TRUCKEE, CA 6:00 PM, WEDNESDAY, JUNE 3, 2026 a joint purchasing agreement in the amount of $261,651.44, seconded by Director Finn. AYES: Bender, Finn, Murrell and Laliotis NAYS: none ABSTAIN: none ABSENT: Randall Motion passed. WORKSHOP 18. Presentation of the District New Website Design Receive this report and provide input and direction to staff. Communications Program Manager presented the item. Discussion was held. Open Session recessed at 8:03 p.m. CLOSED SESSION 19. Closed Session Pursuant to Government Code Section 54956.9(d)(1), Conference with Legal Counsel, Existing Litigation, Kuhlemier v. TDPUD, et al., United States District Court, Eastern District of California Case No. 2-24-cv-02951-DC-AC Open Session reconvened at 8:52 p.m. There was no reportable action taken in Closed Session. ADJOURNMENT Meeting adjourned at 8:52 p.m. 5 Page 37 of 225 TRUCKEE DON N ER AGENDA ITEM #9 PUBLIC UTILITY DISTRICT MEETING DATE: July 1, 2026 TO: Board of Directors FROM: Melanie Rives, Finance & Accounting Manager Michael Salmon, Chief Financial Officer SUBJECT: Treasurer's Report, July 2026 APPROVED BY: Brian C. Wright, General Manager RECOMMENDATION: Consider Approval of the Treasurer's Report for July 2026 including: a. Fund Balances for the Month of April 2026 b. Disbursements for the Month of May 2026 BACKGROUND: ANALYSIS AND BODY: GOALS AND OBJECTIVES: FISCAL IMPACT: ATTACHMENTS: 1. 2026-07 Treasurer's Report Page 1 of 1 Page 38 of 225 TRUCKEE DONNER PUBLIC UTILITY DISTRICT TREASURER'S REPORT July 1 , 2026 Fund Balances for the Month April 30, 2026 And Disbursements for the Month May 31, 2026 (includes Government Code section 53065.5 items) Page 1 of 15 Page 39 of 225 TRUCKEE DONNER PUBLIC UTILITY DISTRICT Summary report of fund balances for the month ending April 30, 2026 and disbursements for May 2026. 1) REQUEST FOR APPROVAL OF DISBURSEMENTS and Check Summary The attached listing of checks and ACH payments issued during May 2026 total $5,577,734.90 in disbursements. 2) EMPLOYEE REIMBURSEMENT FOR INDIVIDUAL CHARGES Per Government Code 53065.5: Each special district, as defined by subdivision (a) of Section 56036, shall, at least annually, disclose any reimbursement paid by the district within the immediately preceding fiscal year of at least one hundred dollars ($100) for each individual charge for services or product received. "Individual charge" includes, but is not limited to, one meal, lodging for one day, transportation, or a registration fee paid to any employee or member of the governing body of the district. The disclosure requirement shall be fulfilled by including the reimbursement information in a document published or printed at least annually by a date determined by that district and shall be made available for public inspection. The Disbursements listing referenced in 1) includes above subject reimbursements information, as applicable. 3) STATEMENT OF GENERAL FUND: As of April 30, 2026 the balance in the General Fund was $20,256,674 (Electric $11,395,313 and Water $8,861,360). 4) FUNDS STATUS REPORT: The total of all funds held in cash and on deposit with US Bank, the Local Agency Investment Fund, Placer County Investment Fund, Utah Public Treasurers' Investment Fund, California CLASS, BNY and TVI Investments as of April 30, 2026 was $68,866,627 ($49,207,508 Electric and $19,659,119 Water). 5) INVESTMENT STATUS REPORT: The majority of the District's investments are in California's Local Agency Investment Fund (LAIF), Utah Public Treasurers' Investment Fund (UPTIF), California CLASS, and the Placer County Investment Fund (PCIF). The earnings rates for the last 13 months were: LAIF PCIF UPTIF 1 YR T-BILL TVI CLASS April 2025 4.28% 4.00% 4.49% 3.71% 0.55% 4.39% May 2025 4.27% 3.88% 4.47% 3.95% 0.55% 4.35% June 2025 4.27% 3.90% 4.48% 3.95% 0.55% 4.34% July 2025 4.26% 3.97% 4.47% 3.94% 0.55% 4.34% August 2025 4.25% 3.86% 4.47% 3.70% 0.55% 4.33% September 2025 4.21% 3.88% 4.38% 3.53% 0.55% 4.27% October 2025 4.15% 3.76% 4.27% 3.56% 0.55% 4.19% November 2025 4.10% 3.91% 4.13% 3.47% 0.55% 4.04% December 2025 4.03% 3.77% 4.01% 3.35% 0.55% 3.88% January 2026 3.93% 3.80% 3.86% 3.35% 0.55% 3.78% February 2026 3.87% 3.99% 3.86% 3.35% 0.55% 3.74% March 2026 3.83% 3.81% 3.86% 3.53% 0.55% 3.70% April 2026 3.81% 3.89% 3.86% 3.57% 0.55% 3.69% Page 2 of 15 Page 40 of 225 TRUCKEE DONNER PUBLIC UTILITY DISTRICT Request for Approval of Disbursements The disbursements of the Truckee Donner Public Utility District for the month of May 2026 totaled $5,577,734.90. A listing of those disbursements is attached. DISBURSEMENTS METRICS (excludes Payroll): Accounts Payable (A/P) Metrics $ A/P Disbursements 8,000,000.00 7,000,000.00 6,000,000.00 5,000,000.00 — 4,000,000.00 1 oil 3,000,000.00 2,000,000.00 — 1,000,000.00 0.00 — Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec ■2022 ■2023 ■2024 ■2025 2026 # A/P Payments Issued 350 300 I 250 — 200 150 100 50 0 — Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec ■2022 ■2023 ■2024 ■2025 2026 # A/P I nvoices Vouchered 1,000 — 800 600 — — 400 200 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec ■2022 ■2023 ■2024 ■2025 2026 Page 3 of 15 Page 41 of 225 Truckee Donner Public Utility District Check Register CA May 2026 Gov.Code 53605.5 CheckrTran Date Type Vendor Vendor Name Item Reference Amount 6594 5/1/2026 WIRE 1359 CALIPERS OPEB-CERBT MONTHLY CONTRIBUTION $ 11,167.00 6602 5/1/2026 WIRE 10360 AFLAC EMPLOYEE PAID INSURANCE 1,232.32 6603 5/1/2026 WIRE 6731 CALIFORNIA DEPARTMENT OF TAX AND FEE ELECTRICAL ENERGY SURCHARGE 14,638.00 6606 5/1/2026 WIRE 10737 US BANK GOVERNMENT SERVICES CREDIT CARD CHARGES 16,415.03 6608 5/6/2026 WIRE 5151 NRECA HEALTH 125 ADMINISTRATIVE FEES 472.50 6593 5/7/2026 PL PL PAYROLL PAYROLL DIRECT DEPOSIT 252,717.41 6595 5/7/2026 WIRE 3824 MISSIONSQUARE 457/403A CONTRIBUTIONS PPE OS/O1/2026 42,515.04 6596 5/7/2026 WIRE 11233 CALIPERS CALIPERS CONTRIBUTIONS PPE 05/01/2026 79,855.36 6597 5/7/2026 WIRE 540 CALIPERS 457 DEFERRED COMP PRGM CALIPERS 457 CONTRIBUTIONS PPE 05/01/2026 27,569.86 6598 5/7/2026 WIRE 7310 INTERNAL REVENUE SERVICE FEDERAL/FICA WITHHOLDING PPE 05/01/2026 128,929.48 6599 5/7/2026 WIRE 905 HEALTHEQUITY INC. EMPLOYEE HSA CONTRIBUTIONS PPE 05/O1/26 1,267.81 6600 5/7/2026 WIRE 3094 EMPLOYMENT DEV DEPT SDI/STATE WITHHOLDING PPE 05/01/2026 29,436.96 50112 5/7/2026 DD 1537 AMAZON CAPITAL SERVICES,INC COMMUNITY RELATIONS 1,754.60 50113 5/7/2026 DD 1642 ANCON MARINE ENVIRONMENTAL COMPLIANCE FEES 800.00 50114 5/7/2026 DD 134 ANIXTER INC. MATERIALS&SERVICES 1,438.80 50115 5/7/2026 DD 10367 CCMEDIA PUBLISHING,LLC. MARKETING 2,175.00 50116 5/7/2026 DD 577 COOPERATIVE RESPONSE CENTER INC. ANSWERING SERVICE 3,602.35 50117 5/7/2026 DD 1627 EDC BUILDERS,INC. TOOLS 3,280.90 50118 5/7/2026 DD 2263 EMPIRE SOUTHWEST,LLC. REPAIRS&MAINTENANCE 168.22 50119 5/7/2026 DD 640 EMPLOYER LYNX INC. PERSONNEL EXPENSES 131.00 50120 5/7/2026 DD 1167 ERPR,LLC PROFESSIONAL SERVICES:MARKETING 3,500.00 50121 5/7/2026 DD 5840 FERGUSON ENTERPRISES INC INVENTORY 830.89 50122 5/7/2026 DD 1530 FORTRA,LLC LICENSING,MAINTENANCE&SUPPORT 16,699.26 50123 5/7/2026 DD 2254 FULL HEART DESIGN PROFESSIONAL SERVICES:MARKETING 1,012.50 50124 5/7/2026 DD 3340 GENERAL PACIFIC INC METER PURCHASE 27,271.80 50125 5/7/2026 DD 3349 GLOBALRENTALCOINC RENTAL VEHICLE 4,245.65 50126 5/7/2026 DD 3480 GRAINGER INC. MATERIALS&SERVICES 558.34 50127 5/7/2026 DD 3515 GRAYBAR ELECTRIC CO INC MATERIALS&SERVICES 3,477.49 50128 5/7/2026 DD 1116 HUNT&SONS,INC FUEL/OIL FOR VEHICLES 1,051.69 50129 5/7/2026 DD 1577 HUNT&SONS,LLC FUEL/OIL FOR VEHICLES 7,318.33 50130 5/7/2026 DD 3820 IBEW LOCAL 1245 UNION DUES MAY 2026-EE CONTRIB. 7,237.17 50131 5/7/2026 DD 1659 INSOURCE SOFTWARE SOLUTIONS,INC. LICENSING,MAINTENANCE&SUPPORT 682.00 50132 5/7/2026 DD 1582 INTEGRITY DATA SOLUTIONS,INC. LICENSING,MAINTENANCE&SUPPORT 7,337.00 50133 5/7/2026 DD 9530 EMPLOYEE VISION REIMBURSEMENT 203.75 50134 5/7/2026 DD 1305 JW WELDING SUPPLIES&TOOLS MATERIALS&SERVICES 360.99 50135 5/7/2026 DD 1149 LOOMIS BANKING CHARGES 1,111.01 50136 5/7/2026 DD 1099 MOANA NURSERY PROFESSIONAL SERVICES:OTHER 325.00 50137 5/7/2026 DD 4720 MOUNTAIN HARDWARE AND SPORTS MARTIS VALLEY SUBSTATION MODERNIZATION 264.04 50138 5/7/2026 DD 5130 NCPA MEMBERSHIP DUES 9,159.00 50139 5/7/2026 DD 1079 O'REILLY AUTO PARTS MISC PARTS&SUPPLIES 90.38 50140 5/7/2026 DD 820 ONESOURCE SUPPLY SOLUTIONS MATERIALS&SERVICES 12,648.12 50141 5/7/2026 DD 5730 PORTER SIMON LEGAL SERVICES 10,486.50 50142 5/7/2026 DD 846 REAL GRAPHIC MISC PARTS&SUPPLIES 683.06 50143 5/7/2026 DD 1606 SAAS E SOLUTIONS,LLC PROFESSIONAL SERVICES:PROGRAM DELIVERY 5,000.00 50144 5/7/2026 DD 6155 SAFETY-KLEEN CORPORATION HAZARDOUS MATERIAL COMPLIANCE 307.00 50145 5/7/2026 DD 1357 SWIFT COMMUNICATIONS OF CALIFORNIA GENERAL ADVERTISEMENT 952.00 50146 5/7/2026 DD 7313 TAHOE SUPPLY COMPANY FACILITY SUPPLIES 702.52 50147 5/7/2026 DD 26 THE BANK OF NEW YORK MELLON DEBT PAYMENTS MONTHLY FUNDINGS(3 COPS) 212,078.99 50148 5/7/2026 DD 448 TRUCKEE TAHOE RADIO LLC MARKETING 2,611.70 50149 5/7/2026 DD 1286 TYNDALE COMPANY INC EMPLOYEE UNIFORM 250.68 50150 5/7/2026 DD 10584 UAMPS PURCHASED POWER:LAMPS 962,373.34 50151 5/7/2026 DD 10380 ULINE FIELD SUPPLIES 529.85 50152 5/7/2026 DD 1538 USA FLEET SOLUTIONS MISC PARTS&SUPPLIES 1,461.00 50153 5/7/2026 DD 320 W&TGRAPHIX SCREEN PRINTING& EMPLOYEE UNIFORM 65.40 50154 5/7/2026 DD 630 WESTERN AREA POWER ADMINISTRATION ENVIRONMENTAL COMPLIANCE FEES 6,399.61 50155 5/7/2026 DD 816 WESTERN ENVIRONMENTAL TESTING WATER SAMPLE ANALYSIS 705.30 50156 5/7/2026 DD 7820 WESTERN NEVADA SUPPLY CO MATERIALS&SERVICES 29,377.31 50157 5/7/2026 DD 9930 KYLE WHITELEY- EMPLOYEE DEVELOPMENT,MILEAGE 492.00 137056 5/7/2026 CHK 240 AUDIO ON-HOLD ON-HOLD PHONE SYSTEM 79.00 137057 5/7/2026 CHK 10489 CORELOGIC INFORMATION SOLUTIONS INC LICENSING,MAINTENANCE&SUPPORT 553.44 137058 5/7/2026 CHK 99999 DUSTIN CRAMER CUSTOMER REFUND-CLOSED ACCOUNT 332.56 137059 5/7/2026 CHK 193 EASTERN REGIONAL LANDFILL LANDFILL CHARGES 596.70 137060 5/7/2026 CHK 348 EDGES ELECTRICAL GROUP MATERIALS&SERVICES 51.55 137061 5/7/2026 CHK 99999 LYNDSEY GILMORE CUSTOMER REFUND-CLOSED ACCOUNT 579.13 137062 5/7/2026 CHK 186 GRANITE CONSTRUCTION COMPANY MATERIALS&SERVICES 885.59 137063 5/7/2026 CHK 1242 GRATEFUL GARDENS BUILDING MAINTENANCE 125.00 137064 5/7/2026 CHK 99999 RICK HAASE CUSTOMER REFUND-CLOSED ACCOUNT 319.09 137065 5/7/2026 CHK 99999 GIDEON HAIMOVITZ CUSTOMER REFUND-CLOSED ACCOUNT 934.03 137066 5/7/2026 CHK 99999 ALEXANDER HOOSHMAND CUSTOMER REFUND-CLOSED ACCOUNT 648.67 137067 5/7/2026 CHK 99999 WILLIAM E HULBERT CUSTOMER REFUND-CLOSED ACCOUNT 521.81 137068 5/7/2026 CHK 99999 TIMOTHY LAURENT CUSTOMER REFUND-CLOSED ACCOUNT 382.04 137069 5/7/2026 CHK 6401 LIBERTY UTILITIES ELECTRIC FOR PUMP STATION 143.60 137070 5/7/2026 CHK 9665 JOSHUA LOUBET* EMPLOYEE DEVELOPMENT 492.00 137071 5/7/2026 CHK 99999 RICHARD MOLSBY CUSTOMER REFUND-CLOSED ACCOUNT 716.26 137072 5/7/2026 CHK 658 MOUNTAIN METAL WORKS,INC. MATERIALS&SERVICES 292.56 137073 5/7/2026 CHK 99999 GONZALO NOLASCO CUSTOMER REFUND-CLOSED ACCOUNT 278.28 137074 5/7/2026 CHK 5151 NRECA MAY 2026 INSURANCE 16,413.87 137075 5/7/2026 CHK 5150 NRECA GROUP BENEFITS TRUST MAY 2026 INSURANCE 248,142.91 137076 5/7/2026 CHK 1398 SCHINDLER ELEVATOR CORP BUILDING MAINTENANCE 571.61 137077 5/7/2026 CHK 6920 TAHOE TRUCKEE SIERRA DISPOSAL LANDFILLCHARGES 3,890.44 137078 5/7/2026 CHK 7175 TRANSWORLD SYSTEMS INC COLLECTION SERVICES 12.37 137079 5/7/2026 CHK 99999 MAREK VANCO CUSTOMER REFUND-CLOSED ACCOUNT 449.70 137080 5/7/2026 CHK 5643 ZORO TOOLS,INC SAFETY SUPPLIES 223.66 6604 5/13/2026 WIRE 6731 CALIFORNIA DEPARTMENT OF TAX AND FEE USE TAX PAYABLE 872.00 50158 5/14/2026 DD 1414 ALPINE SMITH,INC. 2025 CHEVY 2500HD W/RACK 3,043.91 50159 5/14/2026 DD 1537 AMAZON CAPITAL SERVICES,INC MATERIALS&SERVICES 46.86 Page l of Page 4 of 15 Page 42 of 225 Truckee Donner Public Utility District Check Register CA May 2026 Gov.Code 53605.5 CheckTTran Date Type Vendor Vendor Name Item Reference Amount 50160 5/14/2026 DD 134 ANIXTER INC. SAFETY SUPPLIES 3,161.00 50161 S/14/2026 DD 2257 BAKER TILLY US,LLP PROFESSIONAL SERVICES:AUDIT 34,060.00 50162 5/14/2026 DD 9096 SCOTT BOTN MEETING EXPENSES 10.00 50163 5/14/2026 DD 10650 EUROFINS EATON ANALYTICAL INC. WATER SAMPLE ANALYSIS 46.68 50164 5/14/2026 DD 5840 FERGUSON ENTERPRISES INC MATERIALS&SERVICES 4,213.17 50165 5/14/2026 DD 1433 FRANK A.OLSEN COMPANY,LLC MATERIALS&SERVICES 4,434.34 50166 5/14/2026 DD 3340 GENERAL PACIFIC INC EMPLOYEE UNIFORM 213.96 50167 5/14/2026 DD 3480 GRAINGER INC. MATERIALS&SERVICES 411.22 50168 5/14/2026 DD 3515 GRAYBAR ELECTRIC CO INC HARDWARE REFRESH 498.78 50169 5/14/2026 DD 9634 STEVEN KEATES 53605.5 EMPLOYEE DEVELOPMENT 740.40 50170 5/14/2026 DD 115 KIMBALL-MIDWEST FIELD SUPPLIES 153.91 50171 5/14/2026 DD 924 KWA SAFETY&HAZMAT CONSULTANTS INC SAFETY MEETING 1,263.65 50172 5/14/2026 DD 9947 ALLISON MCENEANEY" EMPLOYEE DEVELOPMENT 292.97 50173 5/14/2026 DD 4720 MOUNTAIN HARDWARE AND SPORTS MATERIALS&SERVICES 654.82 50174 5/14/2026 DD 1639 MPLG CONSULTING,LLC ENVIRONMENTAL COMPLIANCE FEES 3,500.00 50175 5/14/2026 DD 289 NISC APRIL 2026 PRINT SERVICES 23,574.74 50176 5/14/2026 DD 970 NORTHERN CALIFORNIA JOINT POLE ASSN MEMBERSHIP DUES 16.74 50177 5/14/2026 DD 1079 O'REILLY AUTO PARTS MISC PARTS&SUPPLIES 57.72 50178 5/14/2026 DD 820 ONESOURCE SUPPLY SOLUTIONS INVENTORY 43,668.11 50179 5/14/2026 DD 775 ONLINE INFORMATION SERVICES CREDIT CHECK SERVICES 239.75 50180 5/14/2026 DD 419 QCS LLC BUILDING MAINTENANCE 5,312.00 50181 5/14/2026 DD 10392 RAIN FOR RENT MATERIALS&SERVICES 2,363.01 50182 5/14/2026 DD 1574 REGIONAL GOVERNMENT SERVICES PROFESSIONAL SERVICES:OTHER 483.00 50183 5/14/2026 DD 1638 ROAD SAFETY INC. NORTHWOODS REBUILD-A44 TO SNOWPEAK 4,140.50 50184 5/14/2026 DD 1584 STARTING FROM SCRATCH CAFE,LLC BOARD MEETING EXPENSES 592.96 50185 5/14/2026 DD 7313 TAHOE SUPPLY COMPANY FACILITY SUPPLIES 60.22 50186 5/14/2026 DD 6360 THATCHER COMPANY OF NEVADA,INC WATER QUALITY:TREATMENT 6,355.80 50187 5/14/2026 DD 26 THE BANK OF NEW YORK MELLON MELLO ROOS TAXES COLLECTED 1,585,939.63 50188 5/14/2026 DD 1286 TYNDALE COMPANY INC EMPLOYEE UNIFORM 1,343.96 50189 5/14/2026 DD 2236 UNIFIRST EMPLOYEE UNIFORM CLEANING SERVICES 617.65 50190 5/14/2026 DD 7380 UNITED PARCEL SERVICE UPS CHARGES 226.83 50191 5/14/2026 DD 816 WESTERN ENVIRONMENTAL TESTING WATER SAMPLE ANALYSIS 615.00 50192 5/14/2026 DD 7820 WESTERN NEVADA SUPPLY CO MATERIALS&SERVICES 2,203.60 50193 5/14/2026 DD 9968 BRIAN WRIGHT 53605.5 MEETING EXPENSES,AIRFARE 1,708.57 50194 5/14/2026 DD 60 XEROX BUSINESS SOLUTIONS XEROX COPIER LEASE 11.45 137081 5/14/2026 CHK 1662 ADVANCED TRUCK BODY&EQUIPMENT CO. REPAIRS&MAINTENANCE 184.05 137082 5/14/2026 CHK 657 AT&T COMMUNICATIONS 3,416.53 137083 5/14/2026 CHK 1518 COLUMN SOFTWARE PBC GENERAL ADVERTISEMENT 216.04 137084 5/14/2026 CHK 1661 DEPENDABLE TOW REPAIRS&MAINTENANCE 1,350.00 137085 5/14/2026 CHK 99999 MR GURVINDER S D0SANJH CUSTOMER REFUND-CLOSED ACCOUNT 1,380.00 137086 5/14/2026 CHK 78 FEDERAL EXPRESS CORPORATION FEDERAL EXPRESS CHARGES 35.05 137087 5/14/2026 CHK 99999 YUHAN HUD CUSTOMER REFUND-CLOSED ACCOUNT 211.81 137088 5/14/2026 CHK 10932 J&L FOOD MART&CARWASH REPAIRS&MAINTENANCE 90.00 137089 5/14/2026 CHK 999 JANE KWAK MR REFUND 99.72 137090 5/14/2026 CHK 6401 LIBERTY UTILITIES ELECTRIC FOR PUMP STATION 848.46 137091 5/14/2026 CHK 99999 MAP CONSTRUCTION CUSTOMER REFUND-CLOSED ACCOUNT 246.33 137092 5/14/2026 CHK 658 MOUNTAIN METAL WORKS,INC. MATERIALS&SERVICES 74.85 137093 5/14/2026 CHK 10138 NEVADA COUNTY CDA ENVIRONMENTAL COMPLIANCE FEES 555.40 137094 5/14/2026 CHK 1290 RESCUE TRAINING INSTITUTE,INC. MEMBERSHIP DUES 750.00 137095 5/14/2026 CHK 99999 DAVID SCHAAF CUSTOMER REFUND-CLOSED ACCOUNT 410.34 137096 5/14/2026 CHK 675 SHERWIN-WILLIAMS MATERIALS&SERVICES 12.32 137097 5/14/2026 CHK 7290 TRUCKEE OVERHEAD DOOR BUILDING MAINTENANCE 1,435.00 137098 5/14/2026 CHK 7320 TRUCKEE TAHOE LUMBER CO MATERIALS&SERVICES 481.13 137099 5/14/2026 CHK 526 WESTERN INDUSTRIAL PARTS INC. MISC PARTS&SUPPLIES 446.27 6607 5/21/2026 PL PL PAYROLL PAYROLL DIRECT DEPOSIT 283,802.76 6609 5/21/2026 WIRE 3824 MISSIONSQUARE 457/401A CONTRIBUTIONS PPE 05/15/2026 43,105.09 6610 5/21/2026 WIRE 11233 CALPERS CALPERS CONTRIBUTIONS PPE 05/15/2026 80,031.18 6611 5/21/2026 WIRE 540 CALPERS 457 DEFERRED COMP PRGM CALPERS 457 CONTRIBUTIONS PPE O5/15/2026 29,159.15 6612 5/21/2026 WIRE 7310 INTERNAL REVENUE SERVICE FEDERAL/FICA WITHHOLDING PPE 05/01/2026 140,948.44 6613 5/21/2026 WIRE 905 HEALTHEQUITY INC. EMPLOYEE HSA CONTRIBUTIONS PPE 05/15/26 1,267.81 6614 5/21/2026 WIRE 3094 EMPLOYMENT DEV DEPT SDI/STATE WITHHOLDING PPE 05/15/2026 32,366.58 50275 5/21/2026 DD 1537 AMAZON CAPITAL SERVICES,INC COMPUTER EXPENSES 511.13 50276 5/21/2026 DD 134 ANIXTER INC. INVENTORY 44,543.01 50277 5/21/2026 DD 11443 AUTOGLASS/MOTORSPORTS EXPRESS-TRUCKEE REPAIRS&MAINTENANCE 704.25 50278 5/21/2026 DD 1489 CAROLLO ENGINEERS DONNER TRAILTANK#2 REHAB 18,079.00 50279 5/21/2026 DD 1251 CONSTRUCTION MATERIALS ENGINEERS,INC. VARIOUS PROJECTS 6,585.00 50280 5/21/2026 DD 9265 EMPLOYEE VISION REIMBURSEMENT 608.00 50281 5/21/2026 DD 1627 EDC BUILDERS,INC. TOOLS 14,560.69 50282 5/21/2026 DD 2263 EMPIRE SOUTHWEST,LLC. REPAIRS&MAINTENANCE 457.92 50283 5/21/2026 DD 1535 EPLUS TECHNOLOGY INC HARDWARE REFRESH 14,318.68 50284 5/21/2026 DD 10650 EUROFINS EATON ANALYTICAL INC. WATER SAMPLE ANALYSIS 58.35 50285 5/21/2026 DD 5840 FERGUSON ENTERPRISES INC MATERIALS&SERVICES 3,343.03 50286 5/21/2026 DD 3340 GENERAL PACIFIC INC EMPLOYEE UNIFORM 237.27 50287 5/21/2026 DD 3349 GLOBALRENTALCOINC RENTAL VEHICLE 3,755.01 50288 5/21/2026 DD 3480 GRAINGER INC. MATERIALS&SERVICES 1,491.08 50289 5/21/2026 DD 3515 GRAYBAR ELECTRIC CO INC MATERIALS&SERVICES 661.97 50290 5/21/2026 DD 9737 EMPLOYEE VISION REIMBURSEMENT 685.30 50291 5/21/2026 DD 4720 MOUNTAIN HARDWARE AND SPORTS NORTHWOODS REBUILD-SNOWPEAKT0A59 90.14 50292 5/21/2026 DD 161 NEW PIG CORPORATION MATERIALS&SERVICES 110.83 50293 5/21/2026 DD 1079 O'REILLY AUTO PARTS MISC PARTS&SUPPLIES 121.80 50294 5/21/2026 DD 820 ONESOURCE SUPPLY SOLUTIONS INVENTORY 92,986.40 50295 5/21/2026 DD 419 QCS LLC BUILDING MAINTENANCE 3,830.00 50296 5/21/2026 DD 552 RK CONTRACTORS INC. MATERIALS&SERVICES 5,025.40 50297 5/21/2026 DD 9933 EMPLOYEE VISION REIMBURSEMENT 420.00 50298 5/21/2026 DD 10414 SNAP-ON INDUSTRIAL MATERIALS&SERVICES 590.66 50299 5/21/2026 DD 10438 STB ELECTRICAL TEST EQUIP INC SAFETY SUPPLIES 1,723.25 Paget of Page 5 of 15 Page 43 of 225 Truckee Donner Public Utility District Check Register CA May 2026 Gov.Code 53605.5 Check/Tran Date Type Vendor Vendor Name Item Reference Amount 50300 5/21/2026 DD 712 TRUCKEE DONNER PUD PURCHASED POWER-STAMPEDE HYDRO GEN 31,845.53 50301 5/21/2026 DD 1630 TRUCKEE EYE CENTER VISION REIMBURSEMENT 1,785.12 50302 5/21/2026 DD 1176 TRUCKEE FAMILY EYECARE OPTOMETRY,INC VISION REIMBURSEMENT 200.00 50303 5/21/2026 DD 10380 ULINE TOOLS 47.75 50304 5/21/2026 DD 2236 UNIFIRST EMPLOYEE UNIFORM CLEANING SERVICES 312.06 50305 5/21/2026 DD 1528 UNISYS CORPORATION LICENSING,MAINTENANCE&SUPPORT 1,592.61 50306 5/21/2026 DD 816 WESTERN ENVIRONMENTAL TESTING WATER SAMPLE ANALYSIS 675.00 137100 5/21/2026 CHK 1527 AT&T MOBILITY CELL PHONE CHARGES 4,096.97 137101 5/21/2026 CHK 348 EDGES ELECTRICAL GROUP MATERIALS&SERVICES 716.30 137102 5/21/2026 CHK 5200 NORTHWEST PUBLIC POWER ASSOCIATION MEETING EXPENSES 99.00 137103 5/21/2026 CHK 1540 P31 ENTERPRISES CONTRACT SERVICES:ROW TREE CLEARING 134,886.54 137104 5/21/2026 CHK 10101 PITNEY BOWES OFFICE SUPPLIES 88.29 137105 5/21/2026 CHK 6273 SAUERS ENGINEERING INC SITZMARK PUMP STATION REPLACEMENT 25,638.00 137106 5/21/2026 CHK 999 SIERRA COMMUNITY HOUSE CHARGING COMMUNITIES FORWARD 300.00 137107 5/21/2026 CHK 999 TAHOE FOOD HUB CHARGING COMMUNITIES FORWARD 300.00 137108 5/21/2026 CHK 999 TRUCKEE HIGH CHEER FOUNDATION CHARGING COMMUNITIES FORWARD 100.00 137109 5/21/2026 CHK 7320 TRUCKEE TAHOE LUMBER CO MATERIALS&SERVICES 449.64 137110 5/21/2026 CHK 99999 MISS CAYLEE M VASQUEZ CUSTOMER REFUND-CLOSED ACCOUNT 17.13 137111 5/21/2026 CHK 99999 MS LAURAG ZAGAR CUSTOMER REFUND-CLOSED ACCOUNT 399.09 50307 5/28/2026 DD 5440 ALTEC INDUSTRIES INC REPAIRS&MAINTENANCE 6,187.67 50308 5/28/2026 DD 1537 AMAZON CAPITAL SERVICES,INC OFFICE SUPPLIES 38.79 50309 5/28/2026 DD 1642 ANCON MARINE ENVIRONMENTAL COMPLIANCE FEES 800.00 50310 5/28/2026 DD 134 ANIXTER INC. INVENTORY 59,327.34 50311 5/28/2026 DD 893 DEBBIE MADERA CLEANING SERVICE BUILDING CLEANING 7,004.00 50312 5/28/2026 DD 1522 E SOURCE COMPANIES,LLC. ENVIRONMENTAL COMPLIANCE FEES 3,800.00 50313 5/28/2026 DD 1627 EDC BUILDERS,INC. TOOLS 20,731.31 50314 5/28/2026 DD 2263 EMPIRE SOUTHWEST,LLC. GENERATOR SERVICES 62,389.39 50315 5/28/2026 DD 5840 FERGUSON ENTERPRISES INC MATERIALS&SERVICES 18,827.86 50316 5/28/2026 DD 361 FIRST CHOICE SERVICES FACILITY SUPPLIES 82.85 50317 5/28/2026 DD 3340 GENERAL PACIFIC INC EMPLOYEE UNIFORM 261.60 50318 5/28/2026 DD 3480 GRAINGER INC. MATERIALS&SERVICES 321.77 50319 5/28/2026 DD 3515 GRAYBAR ELECTRIC CO INC MATERIALS&SERVICES 7,932.69 50320 5/28/2026 DD 1577 HUNT&SONS,LLC FUEL/OIL FOR VEHICLES 6,447.76 50321 5/28/2026 DD 1581 J HARLEN COMPANY INC TOOLS 462.32 50322 5/28/2026 DD 1161 MADER SUPPLY,LLC PURCHASE TRANSFORMERS 10,708.23 50323 5/28/2026 DD 11025 MOONSHINE INK MARKETING 444.00 50324 5/28/2026 DD 617 MOUNTAIN EAP EMPLOYEE RELATIONS&WELLNESS PROGRAM 225.00 50325 5/28/2026 DD 4720 MOUNTAIN HARDWARE AND SPORTS MATERIALS&SERVICES 158.38 50326 5/28/2026 DD 820 ONESOURCE SUPPLY SOLUTIONS INVENTORY 42,742.88 50327 5/28/2026 DD 9923 STEVEN PONCELET 53605.5 MEETING EXPENSES,MILEAGE 1,164.04 50328 5/28/2026 DD 890 QUALUS,LLC MARTIS VALLEY SUBSTATION MODERNIZATION 4,198.00 50329 5/28/2026 DD 10392 RAIN FOR RENT MATERIALS&SERVICES 4,273.50 50330 5/28/2026 DD 9936 EMPLOYEE VISION REIMBURSEMENT 486.28 50331 5/28/2026 DD 552 RK CONTRACTORS INC. POLE CHANGE OUTS 7,071.33 50332 5/28/2026 DD 9912 MARTINA ROCHEFORT• MEETING EXPENSES 217.52 50333 5/28/2026 DD 1371 RUPPERT,INC. SRIP-FIBER 163,940.34 50334 5/28/2026 DD 6402 SIERRA PACIFIC POWER CO PURCHASED POWER-SPPC&NEVADA POWER 51,241.06 50335 5/28/2026 DD 1176 TRUCKEE FAMILY EYECARE OPTOMETRY,INC VISION REIMBURSEMENT 527.00 50336 5/28/2026 DD 2236 UNIFIRST EMPLOYEE UNIFORM CLEANING SERVICES 307.34 50337 5/28/2026 DD 643 UNITED SITE SERVICES OF NEVADA NORTHWOODS REBUILD 799.80 50338 5/28/2026 DD 320 W&TGRAPHIX SCREEN PRINTING& EMPLOYEE UNIFORM 188.03 50339 5/28/2026 DD 816 WESTERN ENVIRONMENTAL TESTING WATER SAMPLE ANALYSIS 675.00 137112 5/28/2026 CHK 1507 ALESHIRE&WYNDER LLP PROFESSIONAL SERVICES:OTHER 10,413.00 137113 5/28/2026 CHK 657 AT&T COMMUNICATIONS 11,966.92 137114 5/28/2026 CHK 999 JASON BIRKENSTOCK REFUND 11864 BADEN RD 536.82 137115 5/28/2026 CHK 193 EASTERN REGIONAL LANDFILL LANDFILL CHARGES 642.24 137116 5/28/2026 CHK 348 EDGES ELECTRICAL GROUP 400AMP PANEL UPGRADE-COMMERCIAL 62.23 137117 5/28/2026 CHK 78 FEDERAL EXPRESS CORPORATION FEDERAL EXPRESS CHARGES 39.02 137118 5/28/2026 CHK 1352 INSTRUMENT TECHNOLOGY CORPORATION MATERIALS&SERVICES 549.20 137119 5/28/2026 CHK 99999 LEFEVER MATTSON INC CUSTOMER REFUND-CLOSED ACCOUNT 181.92 137120 5/28/2026 CHK 99999 MR LOGAN E MAY CUSTOMER REFUND-CLOSED ACCOUNT 205.66 137121 5/28/2026 CHK 99999 BLANCA NAVARRO CUSTOMER REFUND-CLOSED ACCOUNT 193.56 137122 5/28/2026 CHK 1540 P31 ENTERPRISES CONTRACT SERVICES:ROW TREE CLEARING 47,758.56 137123 5/28/2026 CHK 10400 PLACER COUNTY ENVIROMENTAL HEALTH ENVIRONMENTAL COMPLIANCE FEES 526.00 137124 5/28/2026 CHK 11226 SHRED-IT USA LLC OFFICE SUPPLIES 108.38 137125 5/28/2026 CHK 7040 TEICHERT&SON INC CREDIT DE MATERIALS&SERVICES 2,259.47 137126 5/28/2026 CHK 682 VERIZON WIRELESS CELL PHONE CHARGES 2,044.94 137127 5/28/2026 CHK 5643 ZORO TOOLS,INC MATERIALS&SERVICES 79.30 240 $ 5,577,734.90 *Denotes employee reimbursement containing multiple Items with no Individual Item charge of$100 or greater. Page 3of3 Page 6 of 15 Page 44 of 225 TRUCKEE DONNER PUBLIC UTILITY DISTRICT STATEMENT OF GENERAL FUND Activity for the Month Ended 4/30/2026 Page 1 of 2 Electric Dept Water Dept Total Balance in General Fund 3/31/2026 $10,772,439 $8,424,516 $19,196,954 Receipts: Revenue received 4,269,151.48 $1,741,852 $6,011,003 Retired employees medical insurance 24,308 - 24,308 Record interest earned 48,540 51,459 99,999 Transfer from Vehicle Reserve 11,306 - 11,306 FF Funding&DL Surcharge Reimbursement for 2006 COP - 38,250 38,250 Cash clearing accounts(timing-prior month reversal) (292,412) - (292,412) Cash clearing accounts(timing-current month) 116,700 - 116,700 Total Receipts $4,177,593 $1,831,561 $6,009,154 Disbursements: Accounts payable/payroll disbursements $3,466,860 $1,331,886 $4,798,746 Distribute UPTIF interest 17,411 8,975 26,386 Restrict facilities fees 15,165 44,544 59,710 Restrict Donner Lake surcharge - 9,311 9,311 Section 125 benefit disbursement 40,276 - 40,276 Bank charges 15,006 - 15,006 Total Disbursements $3,554,718 $1,394,717 $4,949,435 Balance in General Fund 4/30/2026 $11,395,313 $8,861,360 $20,256,674 6/2/2026 9:46 AM I:\Treasurers Repo rt\Statement of General Fund\2026\2026-04 GF Page 7 of 15 Page 45 of 225 TRUCKEE DONNER PUBLIC UTILITY DISTRICT Funds Status Report Activity for the Month Ended 4/30/2026 Page 2 of 2 Electric Dept Water Dept Total Distribution of Operating Funds At Month-End: Customer Services Operating Funds $2,400 $0 $2,400 Operating clearing accounts 116,700 - 116,700 U.S. Bank-General Fund 1,405,658 - 1,405,658 LAIF, UPTIF, PCIF, CLASS&TVI-General Fund 9,870,556 8,861,360 18,731,916 Total Operating Funds $11,395,313 $8,861,360 $20,256,674 Distribution of Designated&Restricted Funds at Month-End: LAIF, UPTIF, PCIF,TVI &CLASS $37,561,127 $9,655,753 $47,216,880 UPTIF-Donner Lake Assessment District - 92,356 92,356 2015 COP Water Bonds, Principal Payment Fund - 525,509 525,509 2022 COP Issuance/Payment Fund 203,861 452,437 656,299 U S Bank-Donner Lake Assessment District 00-1 - 43,171 43,171 Total Designated&Restricted Funds $37,764,988 $10,769,225 $48,534,213 Total Market Adjustments 47,206 28,534 75,740 Total Funds Available $49,207,508 $19,659,119 $68,866,627 6/2/2026 9:46 AM I:\Treasurers Repo rt\Statement of General Fund\2026\2026-04 GF Page 8 of 15 Page 46 of 225 INVESTMENT STATUS REPORT Activity for the Month Ended 4/30/2026 Balance Beg.Balance Month End Balance %Current Month(%Last Month) 12/31/2025 3/31/2026 Activity 4/30/2026 ELECTRIC FUNDS LOCAL AGENCY INVESTMENT FUND(LAIF)-3.81%(3.83%) General Fund 1..136.1 $ 1,097,556 $ 3,616,819 $ 1,621,081 $ 5,237,900 Consolidate cash (409,966) LAIF transfer 2,000,000 Quarterly investment income payment received 31,046 Capital Replacement Fund 1..136.41 9,659,626 9,760,093 83,779 9,843,873 Quarterly investment income payment received 83,779 Electric Rate Reserve Fund 1..136.35 510,640 515,942 4,429 520,371 Quarterly investment income payment received 4,429 AB 32 Cap&Trade Fund 1..136.58 341,584 345,127 2,963 348,090 Reimbursement from GF for Horse Butte Power 2,963 Deferred Liabilites Reserve 1..136.42 2,369,514 2,394,140 20,551 2,414,691 Quarterly investment income payment received 20,551 LCFS Credits 1..136.59 117,132 1,007,757 8,650 1,016,408 Funds transfer to/from GF 8,650 Total LAIF Electric Investments 14,096,052 17,639,879 1,741,453 19,381,332 UTAH PUBLIC TREASURERS'INVESTMENT FUND(UPTIF)- 3.86%(3.86%) General Fund 1..136.12 1,146,456 120,966 (17,584) 103,382 Distribute UPTIF interest (17,411) Restrict facility fees (15,165) Record monthly interest 3,687 Reimbursement from VR for vehicle rentals 11,306 Facilities Fees 1..136.9 388,734 410,909 16,517 427,426 Restrict facilites fees 15,165 Record monthly interest 1,351 Electric Rate Reserve Fund 1..136.45 2,007,961 2,180,940 7,173 2,188,113 Record monthly interest 7,173 Capital Replacement Fund 1..136.46 532,775 540,617 1,778 542,395 Record monthly interest 1,778 Electric Vehicle Reserve 1..136.13 1,843,672 2,711,115 (2,389) 2,708,726 Record monthly interest 8,917 Reserve transfer to GF (11,306) Total UPTIF Electric Investments 5,919,597 5,964,546 5,495 5,970,041 PLACER COUNTY INVESTMENT FUND(PCIF)- 3.89%(3.81%) Electric General Fund PC 1..136.49 507,597 512,432 1,660 514,092 Record monthly interest 1,660 Electric Rate Reserve Fund 1..136.47 1,596,394 1,611,595 5,218 1,616,813 Record monthly interest 5,218 Capital Replacement Fund 1..136.48 1,387,992 1,401,211 4,537 1,405,748 Record monthly interest 4,537 Total PCIF County Electric Investments 3,491,983 3,525,238 11,415 3,536,653 TVI INVESTMENTS- 0.55%(0.55%) Capital Replacement Fund 1..136.43 1,366,550 1,366,550 - 1,366,550 Electric Rate Reserve Fund 1..136.44 700,000 700,000 - 700,000 Total TVI Electric Investments 2,066,550 2,066,550 2,066,550 6/2/202e 9:51 AM Investments Status Report cUare Page 9 of 15 a:. r,Report\mvestme�t stain:Rep,rc,\2026\2026-04 m ata vest,e�tm:Report Page 1 of 4 Page 47 of 225 INVESTMENT STATUS REPORT Activity for the Month Ended 4/30/2026 Balance Beg.Balance Month End Balance %Current Month(%Last Month) 12/31/2025 3/31/2026 Activity 4/30/2026 CLASS INVESTMENTS- 3.69%(3.70%) General Fund 1..136.16 4,266,101 4,003,035 12,147 4,015,182 Record monthly interest 12,147 Electric Rate Reserve Fund 1..136.22 2,392,046 2,414,321 7,326 2,421,647 Record monthly interest 7,326 Vehicle Reserve Fund 1..136.23 525,608 530,503 1,610 532,112 Record monthly interest 1,610 Capital Reserve Fund 1..136.24 9,391,939 9,479,400 28,765 9,508,164 Record monthly interest 28,765 Total CLASS Electric Investments 16,575,693 16,427,258 49,847 16,477,106 Total Electric Investments $ 42,149,874 $ 45,623,473 $ 1,808,210 $ 47,431,683 6/2/202e 9:51 AM Investments Status Report cUare Page 10 of 15 a:. r,Report\mvestme,t stain:Rep,rc,\2026\2026-04 mvest,e�t:scam:Report Page 2 of 4 Page 48 of 225 INVESTMENT STATUS REPORT Activity for the Month Ended 4/30/2026 Balance Beg.Balance Month End Balance %Current Month(%Last Month) 12/31/2025 3/31/2026 Activity 4/30/2026 WATER FUNDS LOCAL AGENCY INVESTMENT FUND(LAIF)-3.81%(3.83%) General Fund 2..136.1 4,512,859 5,974,050 416,702 6,390,752 Consolidate cash 409,966 Quarterly investment income payment received 51,281 Restrict facility fees (44,544) Facilities Fees 2..136.90 1,407,058 1,509,771 57,504 1,567,275 Restrict facility fees 44,544 Quarterly investment income payment received 12,960 Capital Replacement Fund 2..136.41 4,155,814 4,182,376 35,901 4,218,277 Quarterly investment income payment received 35,901 Reserve funding @ budget a Total LAIF Water Investments 10,075,732 11,666,197 510,107 12,176,304 UTAH PUBLIC TREASURERS'INVESTMENT FUND(UPTIF)- 3.86%(3.86%) General Fund 2..136.12 1,485,549 1,054,294 20,143 1,074,437 Transfer to DLAD surcharge (9,311) Distribute UPTIF interest (8,975) DL Surcharge Reimbursement for 2006 COP 8,333 FF Funding portion of 2006 COP 29,917 Record monthly interest 179 Facilities Fees 2..136.25 197,734 109,648 (29,556) 80,092 Record monthly interest 361 Transfer to GF for FF Funding portion of 2006 COP (29,917) West River St.Assessment District 2..136.31 45,074 45,517 150 45,667 Record monthly interest 150 Prepaid Connection Fees 2..136.7 39,312 39,698 131 39,829 Record monthly interest 131 Transfer to GF-MW PR connections - Donner Lake Assessment District Fund 2..136.84 91,158 92,053 303 92,356 Record monthly interest 303 Donner Lake Assessment District Surcharge Fund 2..136.61 247,713 253,109 1,810 254,919 DLAD surcharge collections (8,333) DL Surcharge reimbursement to GF for 2006 COP 832 Record monthly interest 9,311 TSA SAD II Improvement Fund 2..136.85 21,745 21,958 72 22,030 Record monthly interest 72 Water Vehicle Reserve 2..136.13 503,750 1,025,227 3,372 1,028,599 Record monthly interest 3,372 Deferred Liabilites Reserve 2..136.42 125,787 127,022 418 127,440 Record monthly interest 418 Capital Replacement Fund 2..136.46 141,318 142,706 469 143,176 Record monthly interest 469 Total UPTIF Water Investments 2,899,140 2,911,233 (2,689) 2,908,543 PLACER COUNTY INVESTMENT FUND(PCIF)- 3.89%(3.81%) Total PCIF Water Investments TVI INVESTMENTS- 0.55%(0.55%) Water General Fund TVI 2..136.15 1,396,171 1,396,171 - 1,396,171 Total TVI Water Investments 1,396,171 1,396,171 1,396,171 CLASS INVESTMENTS- 3.69%(3.70%) Water Vehicle Reserve 2..136.24 2,102,432 2,122,010 6,439 2,128,449 Record monthly interest 6,439 Total CLASS Water Investments 2,102,432 2,122,010 6,439 2,128,449 Total Water Investments $ 16,473,474 $ 18,095,612 $ 513,857 $ 18,609,468 6/2/20269:51 AM Investments Status Report Page 11 of 15 cUrea:�rer:Repn\1-1-t Scam:Rep-\2026\2026-04 mv--r t,Scam:Reprc Page 3 of 4 Page 49 of 225 INVESTMENT STATUS REPORT Activity for the Month Ended 4/30/2026 Balance Beg.Balance Month End Balance %Current Month(%Last Month) 12/31/2025 3/31/2026 Activity 4/30/2026 ELECTRIC&WATER INVESTMENTS,COMBINED TOTALS Pre-Market Adjustments Total LAIF Investments 48% 24,171,783 29,306,077 2,251,560 31,557,637 Total UPTIF Investments 13% 8,818,737 8,875,779 2,806 8,878,585 Total PCIF Investments 5% 3,491,983 3,525,238 11,415 3,536,653 Total TVlInvestments 5% 3,462,722 3,462,722 - 3,462,722 Total CLASS Investments 28% 18,678,124 18,549,269 56,286 18,605,555 Total Investments 100% Month End Bal.Mix $ 58,623,349 $ 63,719,085 $ 2,322,066 $ 66,041,151 Market Adjustments Total LAIF Investments 52,730 52,730 - 52,730 Total UPTIF Investments 20,180 20,180 - 20,180 Total PCIF Investments 17,355 17,355 - 17,355 Total TVI Investments (17,366) (17,493) (43) (17,537) Total CLASS Investments 3,011 3,011 3,011 Total Investments $ 75,910 $ 75,782 $ (43) $ 75,739 Post-Market Adjustments Total LAIF Investments 48% 24,224,514 29,358,807 2,251,560 31,610,367 Total UPTIF Investments 13% 8,838,916 8,895,959 2,806 8,898,764 Total PCIF Investments 5% 3,509,338 3,542,593 11,415 3,554,008 Total TVlInvestments 5% 3,445,356 3,445,228 (43) 3,445,185 Total CLASS Investments 28% 18,681,135 18,552,279 56,286 18,608,566 Total Investments 100% Month End Bal.Mix $ 58,699,258 $ 63,794,866 $ 2,322,023 $ 66,116,890 6/2/2026 9:51AM Investments Status Report Page 12 of 15 I:\Treasurers Report\Investment Status Reports me\2026\2026-041 —nts 5—,Report Page 4 of 4 Page 50 of 225 TRUCKEE DONNER PUD INVESTMENT BALANCES as of April 30,2026 Placer County Utah Public California TVI Fidelity Mmkt Morgan Stanley Dreyfus BNY US Bank Cashl LAIF Invest Fund Invest Fund CLASS Investments Govt 57 Treas Sec Port Treas Security Treas Cash Res Checking cash Clearings Total 131.1 ELECTRIC FUNDS General Fund $ 5,237,900 $ 514,092 $ 103,382 $ 4,015,182 $ $ $ $ $ $ 1,405,658 $ 119,100 $ 11,395,313 Facilities Fees - - 427,426 - - - 427,426 Rate Reserve Fund 520,371 1,616,813 2,188,113 2,421,647 700,000 7,446,944 Capital Reserve Fund 9,843,873 1,405,748 542,395 9,508,164 1,366,550 22,666,731 Deferred Liabilites Reserve/POB Fund 2,414,691 - - - - 2,414,691 Electric Vehicle Reserve Fund - 2,708,726 532,112 3,240,838 AB 32 Fund 348,090 - - 348,090 LCFS Credits 1,016,408 1,016,408 COP Project Fund - - COP Issuance/Payment Fund - - - 203,861 203,861 Market Adjustments 30,741 17,355 13,546 2,692 17,128 47,206 Total Electric Investments 19,412,073 3,554,008 5,983,587 16,479,798 2,049,422 203,861 1,405,658 119,100 49,207,508 WATER FUNDS General Fund $ 6,390,752 $ - $ 1,074,437 $ $ 1,396,171 $ $ $ $ $ $ 8,861,360 Facilities Fees 1,567,275 80,092 - 1,647,367 Capital Reserve Fund 4,218,277 143,176 2,128,449 6,489,902 2015 COP Funds - - - 525,509 525,509 West River St.Assessment District 45,667 - 45,667 Deferred Liabilites Reserve 127,440 127,440 Prepaid Connection Fees 39,829 39,829 DLAD Fund 92,356 43,171 135,527 DLAD Surcharge 254,919 - 254,919 TSA SAD II Improvement Fund 22,030 22,030 Water Vehicle Reserve 1,028,599 1,028,599 COP Issuance/Payment Fund - - - - 452,437 452,437 Market Adjustments 21,989 6,634 318 408 28,534 Total Water Investments 12,198,294 2,915,177 2,128,768 1,395,763 525,509 452,437 43,171 19,659,119 Electric and Water,subtotal 31,610,367 3,554,008 8,898,764 18,608,566 3,445,186 525,509 656,299 1,448,829 119,100 68,866,627 MELLO ROOS-OLD GREENWOOD - - - - - - 233,724 345,756 - - - 579,479 Total Mello Roos-Old Greenwood 233,724 345,756 579,479 MELLO ROOS-GRAY'S CROSSING 1,848,957 - - 881,430 2,730,387 Total Mello Roos-Gray's Crossing 1,848,957 881,430 2,730,387 Total Investments $ 33,459,324 $ 3,554,008 $ 8,898,764 $ 18,608,566 $ 3,445,186 $ 525,509 $ 233,724 $ 345,756 $ 1,537,729 $ 1,448,829 $ 119,100 $ 72,176,493 202603 Last Month End Balances 31,207,764 3,542,593 8,838,916 18,552,279 3,445,356 433,082 233,027 344,713 1,414,340 2,267,546 294,812 63,487,630 Change from last month 2,251,560 11,415 59,848 56,286 (170) 92,426 697 1,043 123,389 (818,717) (175,712) 8,688,863 202504 PY Month End Balances 25,582,889 3,385,919 8,899,853 12,717,588 7,219,574 510,018 263,189 182,272 1,383,571 4,465,400 80,381 64,690,654 Change from PY Month 7,876,435 168,089 (1,089) 5,890,978 (3,774,389) 15,491 (29,465) 163,484 154,158 (3,016,572) 38,719 7,485,838 202512 PYE Balances 26,054,126 3,509,338 8,838,916 18,681,135 3,445,356 157,539 230,979 86 269,360 2,116,400 184,397 63,487,630 Change from PYE 7,405,198 44,670 59,848 (72,569) (170) 367,970 2,745 345,670 1,268,369 (667,572) (65,297) 8,688,863 I:\Treasurers Report\2026\2026-07 Treasurer's ReportWll Imertm-202604666 Page 13 of 15 Page 51 of 225 TRUCKEE DONNER April 2026 4&A I.,4- Public Utility District Electric Utility - Key Reserve Balances $ thousands $24,000 $22,667 $19,000 $14,000 ■ . ■ $11,395 $9,000 ^ : yM $7,447 ■ $4,000 r$0 ■ -$1,000 YE 2021 YE 2022 YE 2023 YE 2024 YE 2025 PY Same Last Current YE YE GOAL Month Month Month FORECAST ■ Operating Reserve ■ Rate Reserve ■ Capital Reserve 2022 COP Project Funds 6/2/2026 12:16PM Page 14 of 15 0 FR Report Pack 2026 04 MFS Sec A(3.4) Page 52 of 225 TRUCKEE DONNER April 2026 Public Utility District Water Utility - Key Reserve Balances $ thousands $14,000 $12,000 $10,000 ■ ■ $8,861 $s,00o ■ ■ ■ ■ ■ ■ $6,490 ■ $6,000 ■ ■ $4,000 ■ $2,000 • • • • • • • $1,647 • ■ ■ ■ ■ ■ $1,029 $o $0 YE 2021 YE 2022 YE 2023 YE 2024 YE 2025 PY Same Last Current YE YE GOAL Month Month Month FORECAST ■ Operating Reserve ■ Vehicle Reserve ■ Capital Reserve 2022 COP Project Funds ° • Facility Fees ° 6/2/2026 12:16 PM 0 FR Report Pack 2026 04 MFS Sec A(3.4) Page 15 of 15 Page 53 of 225 TRUCKEE DONNER AGENDA ITEM #10 PUBLIC UTILITY DISTRICT MEETING DATE: July 1, 2026 TO: Board of Directors FROM: Chad Reed, Water Utility Director SUBJECT: Consideration of a Contract with Teichert Rock Products for Aggregate Materials and Asphalt Purchase r APPROVED BY: c4 Brian C. Wright, General Manager RECOMMENDATION: Authorize the General Manager to execute a procurement contract and associated documents with Teichert Rock Products for the purchase of aggregate and asphalt materials for a total amount not to exceed $150,000. BACKGROUND: The Water Department utilizes aggregate materials—such as crushed drain rock, bedding sand, and asphalt—for the District's day-to-day operations to ensure that when we repair a water main or service lines, the ground is properly stabilized and the roadway is safely restored. Purchased aggregate materials are also utilized for the repair and replacement of the District's own ed paved surfaces. These materials are vital to our maintenance and operational requirements. Bulk procurement of aggregate materials for the purposes of District operations and maintenance efforts is routinely executed on an annual basis. While these items are typically included in our annual procurement cycle, we did not receive any responsive bids during the initial 2026 annual procurement process. Consequently, the District went back out to bid on May 28, 2026, to solicit additional bids and establish a reliable supply chain for these essential materials. ANALYSIS AND BODY: The procurement was advertised in the Sierra Sun and competitively bid in accordance with District Code Section 3.08 - Purchasing. Following the rebid notification on May 28, 2026, the official bid opening was held at 3:00 P.M. on Tuesday, June 23, 2026, and a Page 1 of 3 Page 54 of 225 total of two bids were received. After a detailed review for compliance with District standards and responsiveness, the results are as follows: Company Location Bid Total Responsive Teichert Rock Truckee, CA $128,365.00 Yes Products Ruppert, Inc. Truckee, CA $173,673.60 Yes The District utilizes a "market basket approach" for these bids, which is a strategic method to protect the District's interests throughout the fiscal year. By asking for specific unit pricing on a variety of materials we use frequently—such as 3/4" crushed drain rock, bedding sand, and various asphalt mixes—the District can lock in fixed rates and prevent price fluctuations when a specific repair becomes urgent. This approach also allows us to equitably compare bidders based on our projected usage while maintaining the flexibility to address the unpredictable and reactive nature of water system maintenance without returning to the Board for every individual material purchase. Following review of all submitted bids, it was determined the bid submitted by Ruppert, Inc. contained an administrative error in the calculation of the total bid for Schedule A. Pursuant to the Bidders Instructions, staff calculated the corrected bid total based upon the unit costs outlined in the bid submitted. Staff has reviewed all bids received for accuracy and compliance with District Standards. Upon review, Teichert Rock Products was determined to be the lowest responsive bidder. GOALS AND OBJECTIVES: District Code 1.05.020 Objectives: 1. Responsibly serve the public. 2. Provide a healthy and safe work environment for all District employees. 3. Provide reliable and high quality water supply and distribution system to meet current and future needs. 5. Manage the District in an environmentally sound manner. 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 2. Environmental Stewardship: Create a sustainable resilient environment for all our communities. Page 2 of 3 Page 55 of 225 4. Modernize the utility and add value to our communities through collaboration and innovation. FISCAL IMPACT: The lowest responsive bid for aggregate and asphalt materials was Teichert Rock Products. Funding for these materials is provided within the Board-approved FY26 Water Utility budget, primarily GL 2.7.684.20.670 with a budget of $216,000 which also includes other materials costs. In 2025, the Water Department spent a little over $51,000 on aggregate and asphalt materials and the expense total for the GL account was $164,035. If the full amount requested of$150,000 is expended, the account would be an estimated $50,000 over budget. This budget overage would decrease the operating reserve by less than 1%. The operating reserve balance as of December 31, 2025, was $7.4 million and the budget year-end balance and forecast balance are both $7.1 million, which are consistent with the District Code's target balance of 50% of operating expenses. ATTACHMENTS: None Page 3 of 3 Page 56 of 225 TRUCKEE DON N ER AGENDA ITEM #11 PUBLIC UTILITY DISTRICT MEETING DATE: July 1, 2026 TO: Board of Directors FROM: Steven Keates, Utility Resource Strategies Manager SUBJECT: Consideration of a Professional Services Contract with Rincon Consultants for Required Greenhouse Gas Verification Services in Accordance with the California Air Resources Board Mandatory Greenhouse Gas Reporting Regulation. APPROVED BY: Brian C. Wright, General Manager RECOMMENDATION: Authorize the General Manager to execute a Professional Services Agreement with Rincon Consultants for the required Greenhouse Gas Verification Services in accordance with the California Air Resources Board's Mandatory Greenhouse Gas Reporting Regulation in the amount of$20,000, plus a ten percent change order allowance of $2,000, for a total authorization not to exceed $22,000. BACKGROUND: Under California's Regulation for the Mandatory Reporting of Greenhouse Gas Emissions (title 17, California Code of Regulations (CCR), sections 95100-95157), industrial sources, fuel suppliers, and electricity importers must report their annual GHG emissions to the California Air Resources Board (CARB). The District is classified as an electricity importer under this regulation and its annual reports are subject to specific third party verification requirements if it imports power from out-of-state resources. Furthermore, since the District does not operate within a California Balancing Authority, it does not qualify to report as a "retail-only" utility. As a result, the District is legally mandated to hire an independent, CARB-accredited, third-party verifier every year to audit its data. This verifier specifically cross-references contractual generation records to catch any reporting errors exceeding the regulation's 5% material misstatement threshold. The third part verifier report must be submitted to CARB by the August 10th annual deadline. Under CARB's Mandatory Greenhouse Gas Emissions Reporting Regulation (MRR), an Electric Power Entity like the District can use the same third-party verification body or individual lead verifier for a maximum of six consecutive years. Once this six-year limit is reached, the utility must rotate to a completely new, independent verification firm and cannot re-engage the previous verifier for at least three years. In 2025, the District contracted with Rincon Consultants for third-party independent verification of its reported emissions, which represents the first of six potential years using their services. Page 1 of 3 Page 57 of 225 The District board approved the contract at the October 1, 2025, board meeting for a total not to exceed amount of $19,800. ANALYSIS AND BODY: CARB has Mandatory Reporting Regulation (MRR) guidelines for utilities that import power. One of these guidelines allows the District to use metered data to report power delivered through imports instead of using the more common electronic interchange schedule (e-Tag). The second guideline used by the District (where most electric utilities do not) allows for the use of an internal GHG Inventory Plan to explain the sources of carbon emission contribution to California. These methods have been used by the District for many years. However, these methods also add additional complexities to the reporting process. These complexities generate significant nuance and require devoted attention to the District's specific context in order to achieve acceptance at CARB. As mentioned in the background section of this report, Rincon Consultants was hired last year to verify the District's Greenhouse Gas Emissions reported under this regulation for calendar year 2024. Rincon is therefore now well versed in the District's specific context and retaining the same consultant would eliminate the significant 'on- boarding' time (and expense) required to familiarize a new firm with the District's context. Finally, by building a continuous history with a trusted verifier, the District will build familiarity at CARB with its final reporting and help to streamline the process such that the District can transition into CARB's "Less Intensive Verification" cycles during the two intervening off-years (which drastically narrows the scope of the audit to basic document review rather than deep-dive forensic testing, lowering annual auditing fees and reducing the administrative workload on utility staff). For the above reasons, District staff have reached out to Rincon for a proposal for verification services for the most recent MRR submission, which is due to CARB on August 10, 2026, covering the District's emissions in calendar year 2025. Rincon has provided the attached proposal and their services are priced at $20,000 (see Attachment 1). The increase compared to last year reflects the final valuation of services provided to the District in 2025 for the 2024 reporting year, including $18,000 billed and $2,000 in non-billable effort absorbed by Rincon. Section 3.08.050.4 of District Code allows agreements for special services if "the General Manager determines that no proposals are necessary, then he/she may enter into an agreement for the special services up to his/her Board-authorized spending limit. Should the amount exceed the General Manager's spending limit, approval to enter into an agreement will be brought to the Board of Directors for their consideration." GOALS AND OBJECTIVES: District Code 1 .05.020 Objectives: 1. Responsibly serve the public. 4. Provide reliable and high quality electric supply and distribution system to meet current and future needs. Page 2 of 3 Page 58 of 225 5. Manage the District in an environmentally sound manner. 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 2. Environmental Stewardship: Create a sustainable resilient environment for all our communities. FISCAL IMPACT: The recommended approval amount of$20,000 is a component of 'other' costs within purchased power, specifically GL account 1.555. The purchase power budget is $14,582,000 for FY2026. This item does not have a material impact on purchased power costs and is regulatorily required. ATTACHMENTS: 1. Proposal for MRR 2025RY Verification_TPUD_submitted 6.26.2026 Page 3 of 3 Page 59 of 225 RINCON Rincon Consultants 66 Franklin Street,Suite 300 CONSULTANTS Oakland,California 94607 510-834-4455 June 26, 2026 Rincon Project No. 25-17785 Steven Keates, Manager of Utility Resources Strategies Truckee Donner Public Utility District 11570 Donner Pass Road Truckee, California 96161 Via email: stevenkeates@tdpud.org Subject: Proposal to Perform Third-Party Verification of 2025 Electric Power Entity Emissions Report for Truckee Donner Public Utility District Dear Mr.Keates: Rincon Consultants (Rincon) is pleased to submit the attached proposal to provide Greenhouse Gas (GHG)Verification Services for Truckee Donner Public Utility District(Truckee Donner PUD)for the in accordance with the California Air Resources Board's (CARB) Mandatory Greenhouse Gas Reporting Regulation (MRR) (Subarticle 4,Sections 95130 through 95133). Rincon is established as one of the top Verification Bodies in the State accredited to conduct third party verification services under both the MRR and Low Carbon Fuel Standard (LCFS) regulations,with over 15 years of verification experience and having verified over 1 billion metric tons of emissions since MRR inception. Rincon has assembled a team of highly skilled professionals who combine extensive technical qualifications and experience with carbon/GHG accounting,carbon intensity and lifecycle assessment (LCA) development,GHG Verification,and engineering. Our team specializes in verifying GHG emissions at electric power entities (EPE), natural gas suppliers, refineries,oil and gas facilities, industrial manufacturing facilities,alternative fuel facilities,and cogeneration facilities throughout California. Rincon is experienced with verifying large and small EPEs including all PG&E EPE and energy generation facilities. Additionally,we are familiar with working with Truckee Donner PUD having completed the 2024RY verification. This proposal outlines Rincon's proposed scope of work,cost,and schedule based on the scope of services and level of effort based on last year. Information about Rincon's general qualifications can be viewed at www.rinconconsultants.com. Additional information about Rincon's qualifications can be provided on request. If you have any questions regarding this proposal, please contact Erica Linard, GHG/LCFS Lead Verifier, at 805-586-3183. Thank you for the opportunity to assist with this assignment. Project Overview Truckee Donner PUD is an electric power entity located at 11570 Donner Pass Road,Truckee, California. Rincon understands that while located in California,Truckee Donner PUD imports specified and unspecified power with a majority coming from Utah and utilizes renewable energy credits (RECs). Rincon understands that some RECs purchased by the entity are"non-bucket" meaning that while renewable they do not fit within California's definition of renewable that can be used to meet Renewable Portfolio Standard requirements. Additionally, Rincon understands that unlike most California public utilities, imported electricity is tracked via meter data rather than with the typical North American Electric Reliability Corporation Tag (E-Tag). As an electric power entity,Truckee Donner PUD reports GHG emissions per the requirements included in Sections 95111 of the MRR. Rincon assumes that in general, the GHG emissions calculations, reported electricity, and REC reporting will be conducted using correct formulas,where applicable, and procedures as specified in the MRR. For the purposes of this proposal, Rincon has identified a work program that will complete the verification process for the MRR GHG Emissions 2025 Report before the MRR August 10th Verification deadline. 1 Page 60 of 225 • Truckee Donner Public Utility District Third-Party Verification of 2025 Electric Power Entity Emissions Report However,to do so we will need to receive all requested data no later than July 13th. The following provides a brief description of the anticipated tasks and when they would occur,consistent with Rincon's methodology that would be used to provide verification services for Truckee Donner PUD. Task 1 : Conflict of Interest (COI) Statement and Notice of Verification (NOV) Services The initial task in this work program is to provide CARB with the required evaluation of any potential conflict of interest (C01) between Rincon and Truckee Donner PUD. Rincon will submit the C01MOVS forms to CARB immediately after receiving authorization to proceed from Truckee Donner PUD. Rincon has already conducted an internal C01 review of consulting services completed by the firm and has confirmed with CARB that we have not provided any services that would constitute a C01 or would preclude Rincon from verifying the 2025 Truckee Donner PUD MRR Report. Task 2: Project Kick-off and Initial Data Request Rincon proposes to host a virtual kick-off meeting that would include Rincon's Lead Verifier,one additional Rincon team member. Prior to the initial kick-off meeting, Rincon will provide a data request log that will be used to assist in gathering and tracking the information Rincon will need to develop facility- specific Verification Plan and detailed Sampling Plan. Task 3: Audit Subtask 3.1: Document Review and Verification Plan Rincon will review the information provided by Truckee Donner PUD and prepared a Verification Plan. Document review may also include review of written procedures,monitoring protocols,compliance records, licenses and permits,registers,control equipment, calibration and testing records,training processes, monitoring data,and quality control and quality assurance policies. Subtask 3.2: Site Visits and Interviews Section 95131(b)(3) of the MRR requires a strategic site visit to each facility be conducted by Rincon each year full verification is required. Because Truckee Donner PUD received a Qualified Positive verification opinion last year,a full verification including a site visit is required per the MRR. Rincon has already confirmed with CARB that only the facility headquarters in Truckee would need to be visited. During the site visits, Rincon will need full access to the facility and records.' Rincon proposes to conduct a site visit on or before July 27th.This is based on our Lead Verifier/Transaction Specialist availability. Subtask 3.3: Sampling Plan Rincon is required by CARB to develop and implement a Sampling Plan that must be retained for a period of ten years and that is subject to review by CARB (Section 95131(b)(7)). The Sampling Plan will be based on a strategic analysis developed from document reviews,the site visit, and interviews to assess the nature and scale of the verification services. 1 The cost included within this proposal assumes a 6 hour site visit day at the Truckee Donner PUD headquarters,8 hours of travel time for the Lead Verifier to attend from their respective office,and cost for lodging over one night. 2 Page 61 of 225 • Truckee Donner Public Utility District Third-Party Verification of 2025 Electric Power Entity Emissions Report Subtask 3A Data Checks To determine the accuracy of the submitted data (Cal e-GGRT) Report, Rincon will use data checks focused first on the largest intensity and the most uncertain estimates,as identified by the Sampling Plan. For the data checks, Rincon will provide a qualitative risk and uncertainty assessment of emissions data. If applicable,the Sampling Plan and appropriate data checks may be expanded to include a more detailed data review. Task 4: Findings, Verification Report, Verification Opinion, and Lead Review Based on the results of the audit, Rincon will determine whether there is reasonable assurance that the emissions data report is free of material misstatements,conforms to the MRR, and the reported facility emissions,energy transfers, and REC data are accurate. Rincon will keep a log of issues identified during verification activities that may affect determinations of material misstatement and nonconformance, and how those issues were resolved. Deliverables • Information request • Verification Plan,Sampling Plan (draft and final) • Log of Issues (2 rounds) • Verification Report including Verification Opinion (draft and final) • CARB Verification Statements Assumptions • We assume that all Truckee Donner PUD data is confidential,and Rincon has a strict cyber security policy and protective measures that are adhered to throughout the verification process. • Rincon assumes that the appropriate equipment will be available and Truckee Donner PUD staff with knowledge of the daily operations and responsible for compilation of the necessary data will be available during the site visit,to be conducted no later than July 27th. If the necessary staff or equipment are not available during the scheduled site visit and additional site visits or interviews are necessary to complete the verification,they will be completed only upon written authorization in accordance with our standard fee schedule. • Based on our understanding of the facility,we have budgeted for the verification of up to 15 data samples, primarily focused on meter data and REC contracts as we understand that the entity has no e-Tags. If we are required expand the number of samples due to identified errors in the data or calculations or if requested by CARB requires,the additional required data checks will be completed only upon written authorization in accordance with our standard fee schedule. • In the event that a misstatement or nonconformance is found, prior to providing an adverse verification statement to CARB, in conformance with §95131(c)(4),the log of issues will be submitted to Truckee Donner PUD to modify and correct the data report. • As part of this cost estimate we have budgeted for two rounds of LOI revisions. Additional changes will be completed only upon written authorization in accordance with our standard fee schedule. 3 Page 62 of 225 • Truckee Donner Public Utility District Third-Party Verification of 2025 Electric Power Entity Emissions Report • The draft Verification Report and findings will be independently reviewed by one of Rincon's Lead Verifiers who, as required,will not be involved in the prior facility verification services. Rincon's Lead Independent Reviewer will attest to their independent review on behalf of Rincon and their concurrence with the verification findings. • Once the Verification Plan, Sampling Plan,and Verification Report are reviewed and approved by Truckee Donner PUD, Rincon will uploaded the verification statements onto Cal e-GGRT. Upon provision of the verification statement to CARB,the data report will be considered final, and no changes will be made. • We have scheduled the final submission of the verification statement for the facility for the MRR report prior to August 10th,given a start date of July 1 st after the report has been submitted to CARB. This assumption is based on the timely delivery of data,data corrections as necessary, and response to LOls. We assume the following regarding schedule: o Rincon will provide an initial data request within 2 days of contract authorization (assumed by July 6th) o Data will be provided to Rincon within 5 days of issuing the initial data request (assumed no later than July 131h) o Rincon will complete initial data checks within two weeks of receiving the requested data (by week of July 201h) o LOI responses will be provided by Truckee Donner PUD within 3 business days of Rincon issuing an LOI. o We assume all follow-up data checks will be completed by July 271h • As required by MRR Section 95131 (c)(4), in such an instance that Rincon may issue a potential adverse verification statement, Rincon will notify Truckee Donner PUD and provide 14 days for Truckee Donner PUD to modify the report to correct any material misstatements or nonconformances identified. Rincon will notify CARB and Truckee Donner PUD of the potential of an adverse verification statement at least 14 days prior to the MRR deadline (August 101h) on July 27th • If changes to the reports are identified,the finalized MRR Cal-eGGRT report and calculation workbooks will be submitted and provided to Rincon no later than July 241h This is necessary to allow Rincon the necessary time to complete final data reviews, update the Verification report and conduct the Independent Review within the CARB verification deadline. • Rincon has budgeted time to revise each delivered document based on one consolidated set of comments. Additional revisions would be made will be completed only upon written authorization in accordance with our standard fee schedule (attached). • Rincon's verification services are not intended to provide consulting services for the reports. Cost Rincon will provide verification services for Truckee Donner PUD, in accordance with the MRR and with our proposed scope of services,for a lump sum of$20,000. Rincon's scope of work is designed to adhere to every step of the verification process as required and ensure compliance with MRR Section 95131 (Requirements of Verification Services). The cost reflects the final valuation of services provided to TPUD in 2025 for the 2024 reporting year, including $18,000 billed and $2,000 in non-billable effort absorbed by Rincon. The additional effort was required to address unforeseen data quality and reporting challenges necessary to complete the verification and meet the reporting deadline. Consistent with the MRR 4 Page 63 of 225 • Truckee Donner Public Utility District Third-Party Verification of 2025 Electric Power Entity Emissions Report regulation we anticipate this project will be initiated no later than the week of July 6th and the verification process will be completed by the respective deadlines for MRR (August 10th). The project will be billed across two progressive invoices,each representing 50% of the lump sum total. Please note that tasks outside of the proposed budget will be completed on a time and material basis in accordance with Rincon's standard fee schedule.This offer for professional services will remain in effect for a period of 10 days from the date of this quote. During this period, questions regarding our scope of services may be directed the Project Manager, Erica Linard (Jensen), elinard@rinconconsultants.com. To authorize this proposal, please sign and return a copy of the provided contract.Thank you for your consideration and for this opportunity to support your project. Sincerely, Rincon Consultants / J Erica Linard, PhD Erik Feldman, MS, LEED,AP Sustainability Project Manager Principal Attachments Attachment 1 Rincon 2026 Fee Schedule 5 Page 64 of 225 • Truckee Donner Public Utility District Third-Party Verification of 2025 Electric Power Entity Emissions Report Standard Fee Schedule for Environmental Sciences and Planning Services Professional, ... i2026 Senior Principal $342 Principal $329 Director $329 Senior Supervisor II $313 Supervisor 1 $292 Senior Professional II $273 Senior Professional 1 $255 Professional IV $226 Professional 111 $210 Professional 11 $186 Professional 1 $166 Associate III $140 Associate II $125 Associate 1 $117 Field Technician $100 Technical Editor $157 Project Accountant $134 Billing Specialist $115 Publishing Specialist $128 Clerical $115 *Professional classifications include environmental scientists,urban planners,biologists,geologists,marine scientists,GHG verifiers,sustainability,cultural resources,GIS,data technology,and other professionals.Expert witness services consisting of depositions or in-court testimony are charged at the hourly rate of$400. Reimbursable Expenses Equipment Rate(per .. Equipment Package(covers field equipment) $150 UAS Drone $300 Boat(20-foot Boston Whaler or Similar) $800 Light-Duty and Passenger Vehicles* $90 4WD and Off-Road Vehicles* $150 *Current IRS mileage rate for mileage over 50 and for all miles incurred in employee-owned vehicles. Direct Costs.Other direct costs associated with the execution of a project,that are not included in the hourly rates above,are billed at cost plus 16%.These may include,but are not limited to,printing and production,laboratory and drilling services,subcontractors, vendors,authorized travel expenses,permit charges and filing fees,mailings and postage,performance bonds,sample handling and shipment,rental equipment,and vehicles other than covered by the above charges. Budget Reallocation.Rincon reserves the right to reallocate the budget between tasks and staff classifications,while remaining within the approved contract amount. Annual Escalation.Standard rates subject to 3.5%annual escalation on January 1. Payment Terms.All fees will be billed to Client monthly and shall be due and payable upon receipt or as indicated in the contract provisions for the assignment.Invoices are delinquent if not paid within 10 days from receipt or per the contractually required payment terms. 6 Page 65 of 225 TRUCKEE DON N ER AGENDA ITEM #12 PUBLIC UTILITY DISTRICT MEETING DATE: July 1, 2026 TO: Board of Directors FROM: Mike Swanson, Director of Electric Engineering & Operations SUBJECT: Consideration of Electric Construction Services Contract with Herman Weissker, Inc for Northwoods South System Hardening Project APPROVED BY: Brian C. Wright, General Manager RECOMMENDATION: Authorize the General Manager to execute a construction services contract and associated documents with Herman Weissker Power, Inc for the Electric - Northwoods South System Hardening Project in the amount of$1,595,036, plus a 10% change order authorization of$159,504, for a total construction contract amount not to exceed $1,754,540. BACKGROUND: The District continues to implement its system hardening program to improve electric system reliability, reduce wildfire risk, and modernize distribution infrastructure. As part of the FY 2026 Electric Utility Capital Improvement Program, funding has been allocated for system hardening efforts, including pole replacements, conductor upgrades, and related infrastructure improvements. Project locations are prioritized based on multiple factors, including wildfire risk, system reliability, asset condition, operational needs, the importance of maintaining reliable service along primary evacuation routes, and coordination with the District's Capital Improvement Program. The selected project area was identified through the District's planning process as a priority location where system hardening improvements will reduce wildfire risk, improve electric system reliability, enhance public safety, and modernize aging infrastructure while supporting the objectives of the District's Wildfire Mitigation Plan. The District's capital program is delivered through a combination of internal resources and contracted construction services, with funding allocated to support contractor execution of defined capital projects. The Electric - Northwoods South System Hardening Project represents a planned use of these contracted resources. A map outlining the geographic extent of the Northwoods South System Hardening Project has been included as attachment 1 to this staff report. The Electric - Northwoods South System Hardening Project includes replacement of Page 1 of 4 Page 66 of 225 existing wood poles with ductile iron poles, replacement of bare conductor with covered conductor, installation of composite/fiberglass crossarms, and associated system hardening improvements. These upgrades are intended to strengthen the distribution system, improve reliability, and reduce wildfire risk using more resilient construction materials and modern design standards. The Electric - Northwoods South System Hardening Project is part of the District's ongoing system hardening program and supports the District's wildfire mitigation and reliability objectives. Utilizing a contractor for the Electric - Northwoods South System Hardening Project allows District crews to remain focused on planned capital work, system maintenance, outage response, inspections, and other operational responsibilities while ensuring timely completion of the project. ANALYSIS AND BODY: The project was advertised in the Sierra Sun and competitively bid in accordance with District Code Section 3.08 — Purchasing, and a total of nine responsive bids were received. Staff reviewed all bids for responsiveness to the bid requirements. The results of the bidding process are summarized below: Contractor Location Bid Amount Responsive Bid Herman Weissker Power, Inc Chino, CA $1,595,035.96 Yes VIP Powerline Corp San Leandro, CA $1,698,478.00 Yes 1 It Electric Winnemucca, NV $1,795,940.10 No Wasatch Electric LLC West Jordan, UT $1,902,508.96 Yes Mountain G. Enterprises Folsom, CA $2,144,430.00 Yes International Line Builders, West Sacramento, $2,283,768.16 Yes Inc CA Asplundh Construction, Inc Buena Park, CA $2,298,771.00 Yes New River Electrical Cloverdale, VA $2,469,338.76 Yes Corporation Hot Line Construction, Inc Brentwood, CA $2,680,498.00 Yes RK Construction, Inc Verdi, NV $3,259,870.00 Yes Staff issued Addendum No. 1 on 05/21/2026, which revised quantities within the project bid schedule. All responsive bidders acknowledged receipt of the addendum. During staff's review of the bids, four of the ten bids received were found to contain mathematical tabulation errors associated with the revised quantities included in the Page 2 of 4 Page 67 of 225 addendum. Consistent with the Instructions to Bidders, staff corrected the bid tabulations using the unit prices submitted by each bidder. Following correction of the bid tabulations, Herman Weissker Power, Inc. remained the lowest responsive bidder. 1 st Electric was deemed non-responsive for failing to provide the required Bid Bond. Staff recommends awarding of the contract to Herman Weissker Power, Inc.. This contract is structured as a Lump Sum (Fixed-Price) construction contract for a defined scope of work. This procurement method provides cost certainty, aligns with the District's capital delivery model, and ensures efficient execution of a defined construction scope while reserving internal resources for operational needs. The award of this contract will allow the District to proceed with the Electric - Northwoods South System Hardening Project and continue implementation of its system hardening program. GOALS AND OBJECTIVES: District Code 1.05.020 Objectives: 1. Responsibly serve the public. 2. Provide a healthy and safe work environment for all District employees. 4. Provide reliable and high quality electric supply and distribution system to meet current and future needs. 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 2. Environmental Stewardship: Create a sustainable resilient environment for all our communities. 3. Engage with our customers and communities in a welcoming and transparent way to identify opportunities. 4. Modernize the utility and add value to our communities through collaboration and innovation. 5. Developing an inclusive culture drives organizational integration and success. FISCAL IMPACT: The total contract amount is $1,595,036, plus a 10% change order authorization of $159,504, for a total construction contract budget not to exceed $1,754,540. Funding for the Electric - Northwoods South System Hardening Project is included in the Board-approved FY2026 Electric Utility Capital Improvement Budget under System Hardening and Reliability Improvements, which includes approximately $6.0 million for system hardening projects. The total estimated cost of the Electric - Northwoods South System Hardening Project, including engineering, materials, construction, inspection, and contingency, is approximately $2.8 million. Combined with two system hardening projects currently Page 3 of 4 Page 68 of 225 under construction totaling approximately $3.53 million and an additional system hardening project scheduled for Board consideration this evening with an estimated total project cost of approximately $2.6 million, the District's total FY2026 system hardening program is projected to total approximately $8.93 million. The $8.93 million includes $1.0 million in carry-over project costs related to the Northwoods hardening 2025 project. The extended 2026 construction season provides an opportunity to complete additional planned work while favorable weather and contractor availability exist. Advancing these projects will improve program efficiency, reduce future construction workload, and continue implementation of the District's approximately 20-year System Hardening Program. The combined projects are estimated to average approximately $1.06 million per mile, which is consistent with budget system hardening construction costs. The District's available Capital Reserves are sufficient to support the delivery of these capital improvements while maintaining long-term financial stability. As of May 31, 2026, Electric Utility reserve balances were $11.4 million in Operating Reserves and $22.7 million in Capital Reserves. The 2026 budgeted use of capital reserves for electric system projects of$3.3 million is currently forecast at a use of$5.23 million, including this project and other known anticipated projects for 2026. ATTACHMENTS: 1. NW South Map Page 4 of 4 Page 69 of 225 N A 1"=1,000' g-TRUCKEr DONNER F09uc Unurr DISTRICT ` W 0" anse �m af�� i gatnt ernard .....,WaV _ t�Gym° y c 0reenlea, 9� mS. � wooksto/7. Anchoring Plans r c�C+er °os .• 411 7X "#" Location. "E" Existing. "X" I'fa eii 6a°hty Sequence ° ay O R Blue - Comm only anchor. m ROo° 1 ah jii #-X Red - TDPUD only anchor. m �� h"ssing a #-X Green - Joint anchor. 1' ti S FJC Black Dashed - Anchor to be fie. g��m a removed. `t� ''� yr<t PI Guying requirements are located within paicon P° construction plan instructions. G�istarlina Wa mc�gtt sacoa)Nay S108 Q l .✓' ' Edelweiss / 3 P � a a m� Work Order cm`rmV 2564671 � yr° A109 a J A28 - Gt'a�on 5617 IP20 h A51 -- -- _ got t� �,och P� A52 o Chr• pa° bf Work Order h rstie t n Q Zermatt 0{ 2664680 a A47 4'q °Dr F Capenhapen ,-y''r WQ`S3hornAee 4m1 A46 S7 i i A62 ..... s� 368 a 11+ 2 Work Order 9e i$y s517 0 26s4ss1 ti vet p0r L.a�Q LL a�sa O ^T^ LL wooaoeoo {nterstate 80 West �" < Page 70 of 225 TRUCKEE DON N ER AGENDA ITEM #13 PUBLIC UTILITY DISTRICT MEETING DATE: July 1, 2026 TO: Board of Directors FROM: Mike Swanson, Director of Electric Engineering & Operations SUBJECT: Consideration of a Construction Services Contract with Herman Weissker, Inc for the Pole and Anchor Hole Excavation on the Ski Slope System Hardening Project APPROVED BY: Brian C. Wright, General Manager RECOMMENDATION: Authorize the General Manager to execute a construction services contract and associated documents with Herman Weissker Power, Inc for Pole and Anchor Hole Excavation Services in the amount of$376,349, plus a 10% change order authorization of$37,635, for a total construction contract budget not to exceed $413,984. BACKGROUND: The District continues to implement its system hardening program to improve electric system reliability, reduce wildfire risk, and modernize distribution infrastructure. As part of the Electric Utility Capital Improvement Program, funding has been allocated for system hardening projects that include pole replacements, conductor upgrades, and related infrastructure improvements. Project locations are prioritized based on multiple factors, including wildfire risk, system reliability, asset condition, operational needs, the importance of maintaining reliable service along primary evacuation routes, and coordination with the District's Capital Improvement Program. The selected project area was identified through the District's planning process as a priority location where system hardening improvements will reduce wildfire risk, improve electric system reliability, enhance public safety, and modernize aging infrastructure while supporting the objectives of the District's Wildfire Mitigation Plan.The District's ongoing electric utility work plan includes pole replacements, system hardening improvements, reliability upgrades, and infrastructure modernization projects. These projects routinely require excavation services for pole holes, anchor installations, and related civil work activities. Utilizing a qualified excavation contractor to perform pole and anchor hole excavation allows District line crews to focus on specialized electrical construction activities. This approach improves productivity, supports construction schedules, and allows District resources to be utilized more efficiently. The District's capital program is delivered through a combination of internal resources and contracted construction services, with funding allocated to support contractor Page 1 of 4 Page 71 of 225 execution of defined capital projects. The Pole and Anchor Hole Excavation Services Contract represents a planned use of these contracted resources. Under this contract, the selected contractor will perform pole and anchor hole excavation and associated civil work activities in coordination with the District's construction schedule. Excavation activities will be sequenced ahead of District and Dock Crews as construction progresses, allowing crews to install poles, anchors, covered conductor, composite/fiberglass crossarms, and associated electrical facilities as excavation work is completed. This coordinated construction approach improves productivity, maintains construction schedules, and maximizes the efficient use of contractor and District resources. ANALYSIS AND BODY: The Pole and Anchor Hole Excavation Services Contract includes excavation of pole and anchor holes and associated civil work activities necessary to support the District's system hardening program and related capital improvement projects. A map of the project area is provided as Attachment 1 for reference. The project was advertised in the Sierra Sun and competitively bid in accordance with District Code Section 3.08 — Purchasing, and a total of six responsive bids were received. Staff reviewed all bids for responsiveness to the bid requirements. The results of the bidding process are summarized below: Contractor Location Bid Amount Responsive Bid Herman Weissker, Inc Chino, CA $376,349.47 Yes Ruppert, Inc Truckee, CA $453,304.50 Yes RK Contractors Verdi, NV $541,360.00 Yes Veteran Pipeline Construction, Sacramento, CA $593,791.59 Yes Inc. Energy Delivery Partners (EDP) Templeton, CA $656,290.18 Yes Outback Contractors, Inc Red Bluff, CA $1,038,607.00 Ye Based on the bids received, Herman Weissker, Inc. submitted the lowest responsive and responsible bid and is recommended for contract award. The District's Local Preference Procurement Policy (District Code Section 3.08.005) is not applicable because it is limited to contracts up to $100,000, and the recommended contract amount exceeds that threshold. This contract is structured as a Lump Sum (Fixed-Price) construction contract for a defined scope of work. This differs from the District's Dock Crew contracts, which are structured on a time and equipment basis to support ongoing operations, maintenance, Page 2 of 4 Page 72 of 225 and emergency response. Utilizing a Lump Sum contract for this project provides cost certainty, aligns with the District's capital delivery model, and ensures efficient execution of a defined scope of work while reserving District line crews for electrical construction activities. The award of this contract will allow excavation work to proceed in advance of construction activities and support the timely delivery of the District's system hardening program. GOALS AND OBJECTIVES: District Code 1.05.020 Objectives: 1. Responsibly serve the public. 2. Provide a healthy and safe work environment for all District employees. 3. 4. Provide reliable and high quality electric supply and distribution system to meet current and future needs. 5. 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 2. Environmental Stewardship: Create a sustainable resilient environment for all our communities. 3. Engage with our customers and communities in a welcoming and transparent way to identify opportunities. 4. Modernize the utility and add value to our communities through collaboration and innovation. 5. Developing an inclusive culture drives organizational integration and success. FISCAL IMPACT: The total contract amount is $376,349, plus a 10% change order authorization of $37,635, for a total construction contract amount not to exceed $413,984. Funding for this project is included in the Board-approved FY2026 Electric Utility Capital Improvement Budget under System Hardening and Reliability Improvements, which includes approximately $6.0 million for system hardening projects. The total estimated cost of the Pole and Anchor Hole Excavation Project, including engineering, materials, construction, inspection, District and Dock Crew labor, and contingency, is approximately $2.6 million. Combined with two system hardening projects currently under construction totaling approximately $3.53 million and the proposed Electric — Northwoods South System Hardening Project totaling approximately $2.8 million, the District's FY2026 system hardening program is projected to total approximately $8.93 million. The combined projects are estimated to average approximately $1.06 million per mile, which is consistent with budget system hardening construction costs. Page 3 of 4 Page 73 of 225 The extended 2026 construction season provides an opportunity to complete additional planned work while favorable weather and contractor availability exist. Advancing these projects will improve program efficiency, reduce future construction workload, and continue implementation of the District's approximately 20-year System Hardening Program. The District's available Capital Reserves are sufficient to support the delivery of these capital improvements while maintaining long-term financial stability. As of May 31, 2026, Electric Utility reserve balances were $11.4 million in Operating Reserves and $22.7 million in Capital Reserves. The 2026 budgeted use of capital reserves for electric system projects of $3.3 million is currently forecast at a use of$5.23 million, including this project and other known anticipated projects for 2026. ATTACHMENTS: 1. Skislope map Page 4 of 4 Page 74 of 225 Northwoods South Wildfire Hardening Civil Work Scope Work Summary Pole Holes6 Rated Anchors • Rated Anchors - 28 Work Location �r _ • 'p ••� c� t n f o � 'or' } • --crr,•�•` t ', kurthwaodi ,,y •• x.lai war r I�. . vn Trailhead� . � Ninth Dimension® � •r�� ,' - 4 r Wellness -' ^► ) � _ •t, • r4 n• J4? `.�• 'v • ••prmeus•vacation�Remals Q I e, rY.3F•r �t ao' ?PsOb �. • ] t , r'.. Tiuckree t?a6m r •'{,, ` y P N�E�1Fj r�1�<�-r! ,. r ,�h' '�•''� '�`-�` � Na4rlh`waddsBlyd. �tlo��y,� � tM• r� � O Tahoe nonner luxury _ _ •.r. y SYnIPgRw.y r skrrlHtiY { Villa ��= pon a Lak Ri T i .:�,s,•"�,��. Op .r r_,_ ; ' i tat, � r'G• ,. o�. 1 � K .w ► .c pr�a � [�,f��1�'�� ��� '•r�`^,y� ,r ,J'•F.r :�- ''+' �} ��- ,L.� :q.� i�' ,� '1•s {. i ,. • �•rrf��,�rs ram"T7'�IT• ��+�f.�'3 l '�] .I` �i�• _?r �_ � •+}.,'� ��` �• , .rrt 'i, it`�� ,y� f. ,�, •y�' .•' 75 of TRUCKEE DON N ER AGENDA ITEM #14 PUBLIC UTILITY DISTRICT MEETING DATE: July 1, 2026 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: 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; 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 the 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 425 parcels in the CFD Gray's Crossing 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. The table below summarizes the current delinquency amounts for the three undeveloped parcels with significant installment delinquencies. Page 1 of 5 Page 76 of 225 Truckee Donner Public Utility District Community Facilities District No.04-1(Gray's Crossing) Compiled by Wildan Financial Services. Delinquent Special Tax Installments Parcel Assessor Parcel Total Penalties and Owner Number APN Installments Penalties Interest Delinquencies lnterestOnly Siddiqui 019-770-002-000 $ 3,356,984.65 $ 335,698.50 $4,088,022.12 $ 7,780,705.27 $ 4,423,720.62 Siddiqui 043-010-005-000 1,595,714.22 159,571.44 1,937,781.85 3,693,067.51 2,o97,353.29 DK ALVISO 043-010-007-000 2,721,564.00 272,156.43 3,307,405.18 6,301,125.61 3,579,561.61 Totals,as of 6130126 $ 7,674,262.87 $ 767,426.37 $9,333,209.15 1 $17,774,888.38 $i0,i00,635.52 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. For the DK Alviso parcel, the Board approved an agreement on January 5, 2022, an agreement 24-month extension on June 7, 2022, an 18-month extension on June 5, 2024, and a 12-month extension on November 19, 2025, which expires December 6, 2026. The new buyer, developer Paradigm8, is in the final stages of permitting approvals with the Town of Truckee. Siddiqui Family Partnership, L.P., the owner of parcel APN # 019-770-002-000, has produced several potential buyers for this APN# 019-770-002-000 property, and the board has approved several agreements with the potential buyers. However, each transaction to date has not materialized. The delinquent taxes are a significant amount and development of the parcel presents numerous challenges, including the Town of Truckee's approval of the number of units entitled to be built, as well as, new fire code egress requirements. In March 2025, Siddiqui Family Partnership, L.P., the owner of parcels APN # 019-770- 002-000 and APN # 043-010-005-000, had a potential buyer, Hartford Land Management, for both parcels, which could have solved the delinquent tax installments. The Board approved an agreement on April 2, 2025, with this potential buyer. However, the buyer declined to continue the transaction. ANALYSIS AND BODY: Currently, Siddiqui Family Partnership, L.P., the owner of parcel APN # 019-770-002- 000 has a new agreement with re-connection with potential buyer, Hartford Land Management (interest is back), for the 019-770-002-000 property, which could solve the delinquent installment tax matter. Details of parcel APN# 019-770-002-000 are as follows: Page 2 of 5 Page 77 of 225 Truckee Donner Public Utility District Community Facilities District No.04-1(Gray's Crossing) Compiled by Wlldan Financial SeMces. Delinquent S ecial Tax Installments Parcel Assessor Parcel Total Penalties and Owner Number APN Installments Penalties Interest Delia uencies InterestOnly Siddiqui 019-770-002-000 $ 3,356,984.65 $ 335,698.50 $4,088,022.12 $ 7,780,705.27 3 4.423,720,62 Siddiqui Family Partnership, L.P. has presented to the CFD (to TDPUD as administrator of 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. Siddiqui Family Partnership, L.P., is also the owner of parcel APN # 043-010-005-000, and has the same potential buyer, Hartford Land Management, requesting a similar agreement, which is on the board agenda as a separate item for consideration. The Agreement is similar to past agreements authorized by the Board and is provided as Attachment 1 to this report. 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. 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 16 years by the three parcels amounts to $7.7 million in unpaid mello- roos taxes. Due primarily to these three parcels not paying each year over the last 16 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 $1.7 million. The reserve balance forecast 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 APN# 019-770-002-00 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 and the Church. Below in red are the three significant delinquency parcels locations. Page 3 of 5 Page 78 of 225 _ � t Q Siddiqui-019 a {a Church Q ACMS w� Hinton Ln LOB I-043 °Oa .f/ California Government Code section 53340(f) is provided as Attachment 3. The code section specifies the following: (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. Additional information on CFD 04-1 Grays Crossing is provided in Attachment 4 Annual Report for FY25-26 and Attachment 5 Continuing Disclosure Report for FY24-25. GOALS AND OBJECTIVES: Page 4of5 Page 79 of 225 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 Gray's Crossing, receiving the Installment Amount of $3,356,985 would increase cash for the CFD, replenish the Reserve balance, and decrease accounts receivable. For the CFD Gray's Crossing, billed but not collected, penalties of $335,699 and interest of approximately $4,088,022 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$3,356,985 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 Gray's Crossing retains full rights to foreclose on the parcel if the parcel becomes delinquent on special taxes. ATTACHMENTS: 1. GC Hartford Agreement 20260701 APN 019-770-002-000 2. CFD 04-1 Grays Crossing Significant Event 9.1.25 Reserve Draw - To Client 3. Cal Gov Code § 53340 4. FY2526 CFD 04-1 (Gray's Crossing) Annual Report 5. FY2425 TDPUD CFD 04-1 Continuing Disclosure - To Client Page 5 of 5 Page 80 of 225 GRAY'S CROSSING AGREEMENT This GRAY'S CROSSING PARCEL AGREEMENT("Agreement")dated for reference purposes only as of , 2026, is made by and between the Truckee Donner Public Utility District, a public utility district ("District"), Siddiqui Family Partnership, LP ("Owner"), and Harford Land Management,LLC ("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, commonly known as Lot "B" at Gray's Crossing Phase 1, at 1163 China Camp Road, Truckee, California, 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 an 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 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 1 Page 81 of 225 applicable penalties and interest associated therewith that are forgiven pursuant to the remainder of this Section 2("Principal Amount")with due at close of escrow and(b)any currently due special taxes, less applicable penalties and interest. Upon such payment, District shall upon payment in full of all Principal Amounts, waive all applicable penalties and interest to the maximum extent permitted by law. As of June 30, 2026, the Principal Amount totals $3,356,984.65 and applicable penalties and interest that the District agrees to waive, total $4,423,720.62. 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 further currently due special taxes Principal Amounts,the 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. 2. 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. 3. 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. 4. 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. 5. 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. Page 82 of 225 6. Effective Date. This Agreement shall become effective upon the date of the last signature below. 7. Term. The term of this Agreement shall be thirty (30) 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 all Principal Amounts, all Parties' obligations under the Agreement cease, other than those obligations that are specified to survive the Term. 8. 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. 9. 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. 10. 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. 11. 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 parry'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. 12. 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 Page 83 of 225 Owner: Siddiqui Family Partnership, L.P. 1808 J Street, Sacramento, CA 95811 Attn: Javed T. Siddiqui, General Partner Email: Javed.Siddiqui@JTSEngineering.com Buyer: Hartford Land Management 5525 Oak Hills Court Carmichael, CA 95608 Attn: Cameron Stewart Email: Cameron@HartfordLandMan.com Either party may change their address for the purpose of this paragraph by giving written notice of such change to the other party in the manner provided in this paragraph. 13. Time. Time is of the essence of this Agreement and each and all of its provisions in which performance is a factor. 14. 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. 15. 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. 16. 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. 17. Further Assurances. Each party 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. 18. Governing Law. This Agreement shall be construed and interpreted in accordance with the laws of the State of California. 19. 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. 20. Exhibits and Recitals. The exhibits attached to this Agreement and the Recitals are made a part of this Agreement by this reference. Page 84 of 225 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 Dated: , 2026 By: Its: Owner Dated: , 2026 By: Its: Buyer Dated: , 2026 By: Its: Page 85 of 225 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 Page 86 of 225 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 NOTICE OF SIGNIFICANT EVENT SEPTEMBER 1, 2025 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 87 of 225 W W I LLDAN LIST OF PARTICIPANTS TRUCKEE DONNER PUD. . . Michael Salmon Chief Financial Officer and Treasurer 11570 Donner Pass Road Truckee, California 96160 (530) 582-3959 DISTRICT ADMINISTRATION DISCLOSURE • DISSEMINATION Willdan Financial Services* Temecula, California 92590 (951) 587-3500 www.willdan.com UNDERWRITER 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 88 of 225 WP'W1 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 89 of 225 1WILLDAN A NOTICE OF SIGNIFICANT EVENT- UNSCHEDULED DRAW ON DEBT SERVICE RESERVES On September 1, 2025, a draw on the Reserve Fund for $171 ,894.00 was performed in order to pay the September 1, 2025 Debt Service Payment on the Bonds. The District had insufficient funds to make the full debt service payment of $2,051,210.00 on the Series 2004 and Series 2005 Bonds. The remaining amount in the Reserve Fund as of September 2, 2025 will be approximately $1,791,735.47. The unscheduled draw is due to a consistently high delinquency rate in the District. The overall delinquency rate is approximately 16.22%. TDPUD is working with a Foreclosure Attorney to cure the delinquencies. Presently, seven (7) 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 3, 2025. 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 90 of 225 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 91 of 225 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 92 of 225 Truckee Donner PUD Community Facilities District No. 04-1 (Gray's Crossing) Fiscal Year 2025/26 Annual District Administration Report 27368 Via Industria Suite 200 Temecula,CA 9259 T 951.587.3500 800.755.686 F 951.587.3510�888.326.686 Property Tax Information Line T.866.807.68 M. ww.willdan.com NA/W I L L DAN Page 93of WP'WILLDAN ANNUAL DISTRICT ADMINISTRATION REPORT FISCAL ' 1 • TRUCKEE DONNER PUD COMMUNITY - No. 04-1 - • CROSSING) :i C3 O �a �°'gym i trx►�'��' repared . pared . 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. 866.807.68 0 Page 94 of Wf'WILLDAN 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 L LEVY SUMMARY OVERVIEW A. FISCAL YEAR 2025/26 LEVY AMOUNTS B. FISCAL YEAR 2025/26 HANDBILL AMOUNTS IL FINANCIAL OBLIGATIONS A. FISCAL YEAR 2025/26 LEVY COMPONENTS B. PREPAYMENTS C. HISTORICAL BOND CALL SUMMARY Ill. DELINQUENCY AND FORECLOSURE STATUS A. DELINQUENCY SUMMARY B. FORECLOSURE COVENANT C. DELINQUENCY MANAGEMENT ACTIONS IV. SPECIAL TAX LEVY AND METHOD OF APPORTIONMENT OF SPECIAL TAX 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 2025/26 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 95 of 225 lIV 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 2025 Page 96 of 225 lIV 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 2025/26 LEVY AMOUNTS The following table summarizes the amounts levied (including handbilled/direct billed charges) for Fiscal Year 2025/26 for the District. Parcel Count Charge Amount 425 $3,501,866.84 B. FISCAL YEAR 2025/26 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 2025/26 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 2025 Page 97 of 225 lIV W I LLDAN IL FINANCIAL OBLIGATIONS A. FISCAL YEAR 2025/26 LEVY COMPONENTS The following table summarizes the financial obligations of the District. Uses of Funds Amount 2004 Principal $685,000.00 2004 Interest 594.675.00 2005 Principal 840,000.00 2005 Interest 652,055.00 Administrative Costs 107,477.74 Adjustments Applied to the Levy— Addition/(Credit) 622,663.56 Total •e Amount Levied 1 1 (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 2024/25, there was zero (0) parcels that prepaid their special tax obligation. APN Prepayment Total N/A $0.00 Prepayment Total 00 (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 2025 Page 98 of 225 Wf'WILLDAN 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 August 29, 2025. Summary for Cumulative Summary for Most Recent Fiscal Year All Years with Delinquencies $880,813.83 25.66% $6,808, 16.21% 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 2025 Page 99 of 225 Wf'WILLDAN 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, 2024. Date Performed Number of Parcels SB1471 September 16, 2024 _ 9 Request Removal from County Tax Roll September 16, 2024 9 Strip Confirmation October 1, 2024 9 Foreclosure Complete October 1, 2024 9 Reminder Letter March 11, 2025 17 Pre-Foreclosure Letter August 26, 2025 4 SB1471 October 9, 2025 6 Request Removal from County Tax Roll October 9, 2025 6 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 Truckee Donner PUD Page 15 Community Facilities District No. 04-1 (Gray's Crossing) November 2025 Page 100 of 225 Wf'WILLDAN the Special Tax Requirement. (FOR DETAILED INFORMATION OF THE SPECIAL TAX REQUIREMENT, PLEASE REFER TO SECTION (ll) FINANCIAL OBLIGATIONS ABOVE). 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 2025 Page 101 of 225 Wf'WILLDAN 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. 2025/26 2025/26 Land Use Classification of Applied Special Dollars Parcels Tax Rate per Levied Tax Zone 1 Milk 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 $4,243.86 21,219.30 14,001-16,000 SF 40 $4,395.42 175,816.80 16,001-18,000 SF 29 $4,546.98 131,862.42 18,001-20,000 SF 14 $4,698.56 65,779.84 20,001-22,000 SF 3 $4,850.12 14,550.36 Greater than 22,000 3 $5,001.68 15,005.04 Special - 1 (1) 1 $8,942.42 8,942.42 Special - 2 (2) 1 $9,548.68 9,548.68 Zone 1 Total 96 $442,724.86 Tax Zone 2 Single Family Attached 41 $2,728.18 $120,039.98 Less than 8,000 SF 0 $0.00 0.00 8,000-12,000 SF 1 $5,115.36 5,115.36 12,001-14,000 SF 5 $5,304.82 26,524.10 14,001-16,000 SF 88 $5,494.28 483,496.64 16,001-18,000 SF 73 $5,683.74 414,913.02 18,001-20,000 SF 38 $5,873.20 223,181.60 20,001-22,000 SF 26 $6,062.66 157,629.16 Greater than 22,000 40 $6,252.12 250,084.80 Golf Course Property1 3 $2,216.21 151,566.60 Golf Course Property2 3 $735.44 151,566.60 Zone 2 Total 318 $1,984,117.86 Undeveloped Undevelo ed $26,524.16 1,075,024.12 Total1 : . . .84 (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 2025 Page 102 of 225 Wf'WILLDAN 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 Zone 1 Less than 8,000 SF $2,728.20 $0.00 0.00% 8,000-12,000 SF $4,092.30 $0.00 0.00% 12,001-14,000 SF $4,243.87 $4,243.86 100.00% 14,001-16,000 SF $4,395.43 $4,395.42 100.00% 16,001-18,000 SF $4,547.00 $4,546.98 100.00% 18,001-20,000 SF $4,698.57 $4,698.56 100.00% 20,001-22,000 SF $4,850.13 $4,850.12 100.00% Greater than 22,000 $5,001.70 $5,001.68 100.00% Special - 1 (2) $8,942.43 $8,942.42 100.00% Special - 2 (3) $9,548.70 $9,548.68 100.00% Tax Zone 2 Single Family Attached $2,728.20 $2,728.18 100.00% Less than 8,000 SF $2,728.20 $0.00 0.00% 8,000-12,000 SF $5,115.37 $5,115.36 100.00% 12,001-14,000 SF $5,304.83 $5,304.82 100.00% 14,001-16,000 SF $5,494.29 $5,494.28 100.00% 16,001-18,000 SF $5,683.75 $5,683.74 100.00% 18,001-20,000 SF $5,873.21 $5,873.20 100.00% 20,001-22,000 SF $6,062.67 $6,062.66 100.00% Greater than 22,000 $6,252.12 $6,252.12 100.00% Golf Course Property1 $2,216.21 $2,216.21 100.00% Golf Course Property2 $735.44 $735.44 100.00% Undeveloped Undeveloped $26,524.16 $26,524.16 100.00% (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 2025 Page 103 of 225 Wf'WILLDAN D. APPLIED SPECIAL TAX PROGRESSION The following table summarizes the percent change of Fiscal Year 2025/26 Applied Special Tax Rate as compared to Fiscal Year 2024/25 Applied Special Tax Rate. AppliedLand Use Applied Change from SpecialClassification Special Tax Rate Tax Rate Tax Zone 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 $4,243.86 $4,160.64 2.00% 14,001-16,000 SF $4,395.42 $4,309.24 2.00% 16,001-18,000 SF $4,546.98 $4,457.84 2.00% 18,001-20,000 SF $4,698.56 $4,606.42 2.00% 20,001-22,000 SF $4,850.12 $4,755.02 2.00% Greater than 22,000 $5,001.68 $4,903.62 2.00% Special - 1 (1) $8,942.42 $8,767.08 2.00% Special - 2 (2) $9,548.68 $9,361.46 2.00% Tax Zone 2 Single Family Attached $2,728.18 $2,674.70 2.00% Less than 8,000 SF $0.00 $0.00 N/A 8,000-12,000 SF $5,115.36 $5,015.06 2.00% 12,001-14,000 SF $5,304.82 $5,200.80 2.00% 14,001-16,000 SF $5,494.28 $5,386.54 2.00% 16,001-18,000 SF $5,683.74 $5,572.30 2.00% 18,001-20,000 SF $5,873.20 $5,758.04 2.00% 20,001-22,000 SF $6,062.66 $5,943.78 2.00% Greater than 22,000 $6,252.12 $6,129.52 2.00% Golf Course Property1 $2,216.21 $2,172.76 2.00% Golf Course Property2 $735.44 $721.02 2.00% Undeveloped Undeveloped Mb...j $26,524.16 Mi $26,004.08 2.00% (1)The Special-1 Land Use Classification consists oft 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 2025 Page 104 of 225 Wf'WILLDAN EXHIBIT A TRUCKEE DONNER PUD COMMUNITY FACILITIES DISTRICT NO. 04-1 (GRAYS CROSSING Fiscal Year 2025126 Charge Detail Report Page 105 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 019-370-041-000 NO SITUS AVAILABLE $165,094.00 $43,503.00 $208,597.00 2 GC2 $45,714.89 $45,714.88 019-770-002-000 11163 CHINA CAMP RD 683,527.00 0.00 683,527.00 2 Undeveloped 391,496.62 391,496.60 019-770-003-000 11054 CHINA CAMP RD 368,362.00 2,185,000.00 2,553,362.00 1 "16,001-18,000" 4,547.00 4,546.98 019-770-004-000 11072 CHINA CAMP RD 357,000.00 2,244,000.00 2,601,000.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-005-000 11092 CHINA CAMP RD 306,766.00 920,301.00 1,227,067.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-006-000 11106 CHINA CAMP RD 194,837.00 0.00 194,837.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-007-000 11122 CHINA CAMP RD 130,848.00 1,257,299.00 1,388,147.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-008-000 11140 CHINA CAMP RD 108,161.00 1,285,975.00 1,394,136.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-009-000 11160 CHINA CAMP RD 243,546.00 0.00 243,546.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-010-000 11184 CHINA CAMP RD 109,363.00 869,446.00 978,809.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-011-000 11208 CHINA CAMP RD 130,848.00 1,194,718.00 1,325,566.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-012-000 11226 CHINA CAMP RD 243,546.00 1,537,053.00 1,780,599.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-013-000 11242 CHINA CAMP RD 189,425.00 0.00 189,425.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-014-000 11229 CHINA CAMP RD 162,364.00 1,990,374.00 2,152,738.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-015-000 11209 CHINA CAMP RD 306,000.00 1,392,300.00 1,698,300.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-016-000 11125 CHINA CAMP RD 31,394.00 0.00 31,394.00 1 "12,001-14,000" 4,243.87 4,243.86 019-770-017-000 11101 CHINA CAMP RD 151,540.00 0.00 151,540.00 1 "12,001-14,000" 4,243.87 4,243.86 019-770-018-000 11083 CHINA CAMP RD 250,000.00 0.00 250,000.00 1 "12,001-14,000" 4,243.87 4,243.86 019-780-001-000 11258 CHINA CAMP RD 450,000.00 1,650,000.00 2,100,000.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-002-000 11274 CHINA CAMP RD 35,090.00 0.00 35,090.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-003-000 11290 CHINA CAMP RD 238,134.00 1,488,344.00 1,726,478.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-004-000 11306 CHINA CAMP RD 270,608.00 0.00 270,608.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-005-000 11312 CHINA CAMP RD 288,864.00 1,468,800.00 1,757,664.00 1 "20,001-22,000" 4,850.13 4,850.12 019-780-006-000 11636 COBURN DR 434,789.00 1,000,000.00 1,434,789.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-007-000 10701 LABELLE CT 136,537.00 1,109,381.00 1,245,918.00 1 "Greater than 22,000" 5,001.70 5,001.68 019-780-008-000 10751 LABELLE CT 122,883.00 0.00 122,883.00 1 "18,001-20,000" 4,698.57 4,698.56 019-780-009-000 10769 LABELLE CT 275,000.00 2,837,000.00 3,112,000.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-010-000 10789 LABELLE CT 137,513.00 1,537,482.00 1,674,995.00 1 "18,001-20,000" 4,698.57 4,698.56 019-780-011-000 10801 LABELLE CT 113,991.00 0.00 113,991.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-012-000 10811 LABELLE CT 93,881.00 1,030,200.00 1,124,081.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-014-000 10800 LABELLE CT 450,000.00 2,045,000.00 2,495,000.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-015-000 10788 LABELLE CT 239,700.00 1,232,058.00 1,471,758.00 1 "18,001-20,000" 4,698.57 4,698.56 019-780-016-000 10768 LABELLE CT 136,703.00 1,503,761.00 1,640,464.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-017-000 10750 LABELLE CT 100,620.00 0.00 100,620.00 1 "18,001-20,000" 4,698.57 4,698.56 019-780-018-000 11756 COBURN DR 108,268.00 0.00 108,268.00 1 "18,001-20,000" 4,698.57 4,698.56 019-780-019-000 11631 COBURN DR 260,100.00 0.00 260,100.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-020-000 11352 CHINA CAMP RD 312,120.00 2,586,434.00 2,898,554.00 1 "18,001-20,000" 4,698.57 4,698.56 019-780-021-000 11400 CHINA CAMP RD 142,226.00 1,226,612.00 1,368,838.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-022-000 11417 CHINA CAMP RD 123,937.00 0.00 123,937.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-023-000 11397 CHINA CAMP RD 167,776.00 1,255,621.00 1,423,397.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-024-000 11383 CHINA CAMP RD 118,837.00 346,800.00 465,637.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-025-000 11365 CHINA CAMP RD 249,900.00 1,249,500.00 1,499,400.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-026-000 11349 CHINA CAMP RD 125,158.00 0.00 125,158.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-027-000 11333 CHINA CAMP RD 38,430.00 980,096.00 1,018,526.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-028-000 11315 CHINA CAMP RD 67,285.00 1,000,037.00 1,067,322.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-029-000 11301 CHINA CAMP RD 174,930.00 0.00 174,930.00 1 "16,001-18,000" 4,547.00 4,546.98 Willdan Financial Services Page 1 of 10 Page 106 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 019-790-002-000 11569 CHINA CAMP RD 27,626.00 0.00 27,626.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-003-000 11555 CHINA CAMP RD 35,165.00 0.00 35,165.00 1 "16,001-18,000" 4,547.00 4,546.98 019-790-004-000 11539 CHINA CAMP RD 56,460.00 1,188,552.00 1,245,012.00 1 "16,001-18,000" 4,547.00 4,546.98 019-790-005-000 11523 CHINA CAMP RD 27,701.00 0.00 27,701.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-006-000 11509 CHINA CAMP RD 189,425.00 1,541,382.00 1,730,807.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-007-000 11493 CHINA CAMP RD 167,776.00 0.00 167,776.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-008-000 11471 CHINA CAMP RD 113,400.00 0.00 113,400.00 1 "20,001-22,000" 4,850.13 4,850.12 019-790-009-000 11464 CHINA CAMP RD 35,868.00 0.00 35,868.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-010-000 11478 CHINA CAMP RD 164,045.00 1,164,731.00 1,328,776.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-011-000 11516 CHINA CAMP RD 121,858.00 1,764,087.00 1,885,945.00 1 "18,001-20,000" 4,698.57 4,698.56 019-790-012-000 11574 CHINA CAMP RD 120,600.00 0.00 120,600.00 1 "18,001-20,000" 4,698.57 4,698.56 019-790-013-000 11608 CHINA CAMP RD 109,363.00 1,339,713.00 1,449,076.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-014-000 11628 CHINA CAMP RD 122,704.00 1,365,393.00 1,488,097.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-015-000 11644 CHINA CAMP RD 399,840.00 1,814,580.00 2,214,420.00 1 "16,001-18,000" 4,547.00 4,546.98 019-790-016-000 11759 COBURN DR 416,160.00 0.00 416,160.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-017-000 11729 COBURN DR 106,300.00 0.00 106,300.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-018-000 11711 COBURN DR 220,564.00 2,080,800.00 2,301,364.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-019-000 11671 COBURN DR 106,300.00 0.00 106,300.00 1 "Greater than 22,000" 5,001.70 5,001.68 019-790-020-000 11422 CHINA CAMP RD 35,868.00 0.00 35,868.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-021-000 11436 CHINA CAMP RD 128,808.00 0.00 128,808.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-022-000 10576 BRICKELL CT 111,864.00 0.00 111,864.00 1 "18,001-20,000" 4,698.57 4,698.56 019-790-023-000 10573 BRICKELL CT 265,200.00 0.00 265,200.00 1 "18,001-20,000" 4,698.57 4,698.56 019-790-024-000 10567 BRICKELL CT 249,288.00 0.00 249,288.00 1 "16,001-18,000" 4,547.00 4,546.98 019-790-025-000 10551 BRICKELL CT 27,626.00 0.00 27,626.00 1 "16,001-18,000" 4,547.00 4,546.98 019-790-026-000 10541 BRICKELL CT 199,291.00 1,683,000.00 1,882,291.00 1 "12,001-14,000" 4,243.87 4,243.86 019-790-027-000 10529 BRICKELL CT 125,158.00 1,150,841.00 1,275,999.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-001-000 11762 COBURN DR 279,000.00 0.00 279,000.00 1 "18,001-20,000" 4,698.57 4,698.56 019-800-002-000 11728 CHINA CAMP RD 362,120.00 2,150,000.00 2,512,120.00 1 "14,001-16,000" 4,395.43 4,395.42 019-800-003-000 11746 CHINA CAMP RD 38,430.00 922,442.00 960,872.00 1 "14,001-16,000" 4,395.43 4,395.42 019-800-004-000 11768 CHINA CAMP RD 150,874.00 1,520,365.00 1,671,239.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-005-000 11776 CHINA CAMP RD 88,781.00 0.00 88,781.00 1 "12,001-14,000" 4,243.87 4,243.86 019-800-008-000 11759 CHINA CAMP RD 482,315.00 1,050,809.00 1,533,124.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-009-000 11737 CHINA CAMP RD 115,796.00 841,290.00 957,086.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-010-000 11719 CHINA CAMP RD 108,091.00 0.00 108,091.00 1 "14,001-16,000" 4,395.43 4,395.42 019-800-011-000 11699 CHINA CAMP RD 234,949.00 1,534,590.00 1,769,539.00 1 "14,001-16,000" 4,395.43 4,395.42 019-800-012-000 11820 COBURN DR 60,509.00 612,000.00 672,509.00 1 "20,001-22,000" 4,850.13 4,850.12 019-800-015-000 11874 COBURN DR 297,668.00 1,482,931.00 1,780,599.00 1 "18,001-20,000" 4,698.57 4,698.56 019-800-016-000 11900 COBURN DR 89,675.00 991,294.00 1,080,969.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-017-000 11910 COBURN DR 244,800.00 2,888,640.00 3,133,440.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-020-000 11893 COBURN DR 145,360.00 2,074,661.00 2,220,021.00 1 "18,001-20,000" 4,698.57 4,698.56 019-800-021-000 11881 COBURN DR 383,907.00 0.00 383,907.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-022-000 11863 COBURN DR 364,140.00 1,716,660.00 2,080,800.00 1 "14,001-16,000" 4,395.43 4,395.42 019-800-023-000 11851 COBURN DR 78,018.00 1,552,976.00 1,630,994.00 1 "14,001-16,000" 4,395.43 4,395.42 019-800-024-000 11835 COBURN DR 137,731.00 2,165,000.00 2,302,731.00 1 "14,001-16,000" 4,395.43 4,395.42 019-800-025-000 11657 CHINA CAMP RD 331,500.00 0.00 331,500.00 1 "18,001-20,000" 4,698.57 4,698.56 019-800-026-000 11631 CHINA CAMP RD 91,023.00 0.00 91,023.00 1 "16,001-18,000" 4,547.00 4,546.98 Willdan Financial Services Page 2 of 10 Page 107 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 019-800-027-000 11607 CHINA CAMP RD 56,727.00 295,800.00 352,527.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-028-000 11585 CHINA CAMP RD 293,760.00 2,301,120.00 2,594,880.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-029-000 11660 CHINA CAMP RD 125,407.00 1,628,655.00 1,754,062.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-030-000 11777 CHINA CAMP RD 320,190.00 1,407,161.00 1,727,351.00 1 "Greater than 22,000" 5,001.70 5,001.68 019-800-031-000 11830 COBURN DR 427,289.00 3,329,280.00 3,756,569.00 1 Speciall 8,942.43 8,942.42 019-800-032-000 11919 COBURN DR 298,208.00 1,762,494.00 2,060,702.00 1 Specia12 9,548.70 9,548.68 019-840-001-000 11710 BOTTCHER LP 73,545.00 0.00 73,545.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-002-000 11690 BOTTCHER LP 275,000.00 0.00 275,000.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-003-000 11670 BOTTCHER LP 235,008.00 0.00 235,008.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-004-000 11685 KELLEY DR 449,820.00 2,149,140.00 2,598,960.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-005-000 11695 KELLEY DR 153,000.00 2,091,000.00 2,244,000.00 2 "12,001-14,000" 5,304.83 5,304.82 019-840-006-000 11705 KELLEY DR 61,950.00 0.00 61,950.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-007-000 11715 KELLEY DR 111,550.00 1,450,172.00 1,561,722.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-008-000 11735 KELLEY DR 207,826.00 0.00 207,826.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-009-000 11784 KELLEY DR 116,056.00 1,212,810.00 1,328,866.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-010-000 11764 KELLEY DR 162,364.00 1,915,904.00 2,078,268.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-011-000 11744 KELLEY DR 270,608.00 2,056,620.00 2,327,228.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-012-000 11724 KELLEY DR 100,620.00 0.00 100,620.00 2 "18,001-20,000" 5,873.21 5,873.20 019-840-013-000 11704 KELLEY DR 357,000.00 2,754,000.00 3,111,000.00 2 "18,001-20,000" 5,873.21 5,873.20 019-840-014-000 11684 KELLEY DR 270,608.00 1,623,648.00 1,894,256.00 2 "18,001-20,000" 5,873.21 5,873.20 019-840-015-000 11664 KELLEY DR 238,134.00 1,320,566.00 1,558,700.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-016-000 11650 BOTTCHER LP 178,600.00 0.00 178,600.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-017-000 11630 BOTTCHER LP 447,170.00 795,000.00 1,242,170.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-018-000 11610 BOTTCHER LP 274,890.00 1,399,440.00 1,674,330.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-019-000 11590 BOTTCHER LP 303,552.00 1,566,720.00 1,870,272.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-020-000 11570 BOTTCHER LP 132,199.00 0.00 132,199.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-021-000 11550 BOTTCHER LP 270,608.00 1,758,952.00 2,029,560.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-022-000 11530 BOTTCHER LP 270,608.00 1,220,982.00 1,491,590.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-023-000 11521 BOTTCHER LP 189,425.00 1,623,648.00 1,813,073.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-024-000 11541 BOTTCHER LP 77,441.00 1,449,464.00 1,526,905.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-025-000 11561 BOTTCHER LP 342,720.00 0.00 342,720.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-026-000 11581 BOTTCHER LP 153,109.00 0.00 153,109.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-027-000 11621 BOTTCHER LP 162,480.00 1,549,380.00 1,711,860.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-028-000 11641 BOTTCHER LP 309,672.00 0.00 309,672.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-029-000 11651 BOTTCHER LP 319,056.00 0.00 319,056.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-030-000 11675 KELLEY DR 51,240.00 1,153,054.00 1,204,294.00 2 "18,001-20,000" 5,873.21 5,873.20 019-850-002-000 11411 GHIRARD RD 380,052.00 0.00 380,052.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-003-000 11431 GHIRARD RD 375,360.00 2,158,320.00 2,533,680.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-004-000 11451 GHIRARD RD 299,880.00 2,069,172.00 2,369,052.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-005-000 11471 GHIRARD RD 300,751.00 1,552,976.00 1,853,727.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-006-000 11491 GHIRARD RD 487,093.00 1,666,945.00 2,154,038.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-007-000 11511 GHIRARD RD 179,889.00 1,414,660.00 1,594,549.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-008-000 11510 BOTTCHER LP 56,518.00 881,390.00 937,908.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-009-000 11490 BOTTCHER LP 324,870.00 2,099,160.00 2,424,030.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-010-000 11470 BOTTCHER LP 188,760.00 1,235,817.00 1,424,577.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-011-000 11450 BOTTCHER LP 170,671.00 1,490,553.00 1,661,224.00 2 "14,001-16,000" 5,494.29 5,494.28 Willdan Financial Services Page 3 of 10 Page 108 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 019-850-012-000 11430 BOTTCHER LP 398,000.00 0.00 398,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-013-000 11410 BOTTCHER LP 165,031.00 1,402,941.00 1,567,972.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-014-000 11481 BOTTCHER LP 287,640.00 2,588,760.00 2,876,400.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-015-000 11501 BOTTCHER LP 304,980.00 0.00 304,980.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-016-000 11624 KELLEY DR 171,023.00 0.00 171,023.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-017-000 11604 KELLEY DR 167,776.00 0.00 167,776.00 2 "20,001-22,000" 6,062.67 6,062.66 019-850-018-000 11584 KELLEY DR 482,543.00 1,180,000.00 1,662,543.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-019-000 11564 KELLEY DR 290,000.00 0.00 290,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-020-000 11544 KELLEY DR 151,540.00 1,190,674.00 1,342,214.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-021-000 11524 KELLEY DR 81,181.00 1,802,249.00 1,883,430.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-022-000 11520 GHIRARD RD 285,600.00 2,040,000.00 2,325,600.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-023-000 11500 GHIRARD RD 350,000.00 0.00 350,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-024-000 11480 GHIRARD RD 182,050.00 1,211,786.00 1,393,836.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-025-000 11460 GHIRARD RD 408,000.00 2,193,000.00 2,601,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-026-000 11440 GHIRARD RD 433,500.00 2,590,800.00 3,024,300.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-027-000 11420 GHIRARD RD 136,703.00 0.00 136,703.00 2 "16,001-18,000" 5,683.75 5,683.74 019-860-002-000 11191 GHIRARD RD 357,000.00 2,641,800.00 2,998,800.00 2 "18,001-20,000" 5,873.21 5,873.20 019-860-003-000 11261 GHIRARD RD 294,882.00 2,907,000.00 3,201,882.00 2 "20,001-22,000" 6,062.67 6,062.66 019-860-004-000 11251 GHIRARD RD 432,972.00 2,109,658.00 2,542,630.00 2 "18,001-20,000" 5,873.21 5,873.20 019-860-005-000 11291 GHIRARD RD 514,154.00 1,814,155.00 2,328,309.00 2 "18,001-20,000" 5,873.21 5,873.20 019-860-006-000 11311 GHIRARD RD 391,680.00 3,030,624.00 3,422,304.00 2 "18,001-20,000" 5,873.21 5,873.20 019-860-007-000 11331 GHIRARD RD 317,920.00 1,483,638.00 1,801,558.00 2 "16,001-18,000" 5,683.75 5,683.74 019-860-008-000 11371 GHIRARD RD 561,000.00 2,779,500.00 3,340,500.00 2 "18,001-20,000" 5,873.21 5,873.20 019-860-009-000 11391 GHIRARD RD 499,800.00 2,499,000.00 2,998,800.00 2 "18,001-20,000" 5,873.21 5,873.20 019-860-010-000 11400 GHIRARD RD 261,073.00 2,175,000.00 2,436,073.00 2 "14,001-16,000" 5,494.29 5,494.28 019-860-011-000 11380 GHIRARD RD 408,000.00 1,795,200.00 2,203,200.00 2 "14,001-16,000" 5,494.29 5,494.28 019-860-012-000 11360 GHIRARD RD 375,000.00 0.00 375,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-860-013-000 11340 GHIRARD RD 399,840.00 2,998,800.00 3,398,640.00 2 "14,001-16,000" 5,494.29 5,494.28 019-860-014-000 11320 GHIRARD RD 189,425.00 1,823,897.00 2,013,322.00 2 "14,001-16,000" 5,494.29 5,494.28 019-860-015-000 11300 GHIRARD RD 142,171.00 1,667,808.00 1,809,979.00 2 "14,001-16,000" 5,494.29 5,494.28 019-860-016-000 11280 GHIRARD RD 85,602.00 853,307.00 938,909.00 2 "14,001-16,000" 5,494.29 5,494.28 019-860-017-000 11260 GHIRARD RD 281,520.00 1,876,800.00 2,158,320.00 2 "16,001-18,000" 5,683.75 5,683.74 019-860-018-000 11240 GHIRARD RD 146,978.00 1,235,817.00 1,382,795.00 2 "16,001-18,000" 5,683.75 5,683.74 019-860-019-000 11220 GHIRARD RD 130,848.00 0.00 130,848.00 2 "16,001-18,000" 5,683.75 5,683.74 019-860-020-000 11200 GHIRARD RD 163,100.00 0.00 163,100.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-002-000 11531 GHIRARD RD 391,680.00 2,501,856.00 2,893,536.00 2 "18,001-20,000" 5,873.21 5,873.20 019-870-003-000 11551 GHIRARD RD 273,076.00 1,632,783.00 1,905,859.00 2 "18,001-20,000" 5,873.21 5,873.20 019-870-004-000 11571 GHIRARD RD 220,507.00 1,357,884.00 1,578,391.00 2 "20,001-22,000" 6,062.67 6,062.66 019-870-005-000 11611 GHIRARD RD 510,000.00 3,243,600.00 3,753,600.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-870-006-000 11631 GHIRARD RD 357,000.00 1,887,000.00 2,244,000.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-870-007-000 11651 GHIRARD RD 450,000.00 1,880,000.00 2,330,000.00 2 "20,001-22,000" 6,062.67 6,062.66 019-870-008-000 11890 BOTTCHER LP 35,165.00 0.00 35,165.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-009-000 11870 BOTTCHER LP 306,000.00 0.00 306,000.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-010-000 11850 BOTTCHER LP 268,464.00 0.00 268,464.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-011-000 11830 BOTTCHER LP 468,180.00 1,643,832.00 2,112,012.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-012-000 11810 BOTTCHER LP 58,159.00 0.00 58,159.00 2 "14,001-16,000" 5,494.29 5,494.28 Willdan Financial Services Page 4 of 10 Page 109 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 019-870-013-000 11790 BOTTCHER LP 231,638.00 0.00 231,638.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-014-000 11770 BOTTCHER LP 162,364.00 1,082,432.00 1,244,796.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-015-000 11750 BOTTCHER LP 42,272.00 0.00 42,272.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-016-000 11730 BOTTCHER LP 64,533.00 968,112.00 1,032,645.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-017-000 11721 BOTTCHER LP 77,441.00 1,050,351.00 1,127,792.00 2 "20,001-22,000" 6,062.67 6,062.66 019-870-018-000 11741 BOTTCHER LP 39,558.00 0.00 39,558.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-019-000 11761 BOTTCHER LP 332,032.00 2,620,000.00 2,952,032.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-020-000 11781 BOTTCHER LP 151,727.00 1,206,910.00 1,358,637.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-021-000 11801 BOTTCHER LP 290,000.00 0.00 290,000.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-022-000 11821 BOTTCHER LP 148,179.00 1,718,931.00 1,867,110.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-023-000 11841 BOTTCHER LP 292,434.00 0.00 292,434.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-024-000 11861 BOTTCHER LP 468,180.00 2,418,930.00 2,887,110.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-025-000 11891 BOTTCHER LP 145,015.00 1,360,929.00 1,505,944.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-026-000 11680 GHIRARD RD 357,000.00 1,938,000.00 2,295,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-027-000 11660 GHIRARD RD 183,846.00 1,098,003.00 1,281,849.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-028-000 11640 GHIRARD RD 211,189.00 2,260,373.00 2,471,562.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-029-000 11620 GHIRARD RD 336,844.00 2,738,700.00 3,075,544.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-030-000 11600 GHIRARD RD 179,280.00 2,300,168.00 2,479,448.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-031-000 11580 GHIRARD RD 321,300.00 0.00 321,300.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-032-000 11560 GHIRARD RD 273,408.00 1,580,317.00 1,853,725.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-033-000 11540 GHIRARD RD 184,057.00 1,600,767.00 1,784,824.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-034-000 11555 KELLEY DR 204,578.00 0.00 204,578.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-035-000 11575 KELLEY DR 306,000.00 0.00 306,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-036-000 11595 KELLEY DR 357,000.00 1,683,000.00 2,040,000.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-037-000 11615 KELLEY DR 79,676.00 1,072,624.00 1,152,300.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-038-000 11635 KELLEY DR 424,483.00 0.00 424,483.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-039-000 11655 KELLEY DR 225,351.00 0.00 225,351.00 2 "14,001-16,000" 5,494.29 5,494.28 019-880-001-000 11082 MEEK CT 1,080,808.00 1,183,037.00 2,263,845.00 2 "20,001-22,000" 6,062.67 6,062.66 019-880-002-000 11102 MEEK CT 137,432.00 757,161.00 894,593.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-880-003-000 11122 MEEK CT 167,707.00 1,225,229.00 1,392,936.00 2 "18,001-20,000" 5,873.21 5,873.20 019-880-004-000 11142 MEEK CT 116,450.00 832,968.00 949,418.00 2 "20,001-22,000" 6,062.67 6,062.66 019-880-005-000 11139 MEEK CT 80,250.00 1,541,755.00 1,622,005.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-880-006-000 11133 MEEK CT 262,200.00 0.00 262,200.00 2 "18,001-20,000" 5,873.21 5,873.20 019-880-007-000 11113 MEEK CT 184,057.00 1,878,881.00 2,062,938.00 2 "16,001-18,000" 5,683.75 5,683.74 019-880-008-000 10989 GHIRARD RD 459,000.00 2,040,000.00 2,499,000.00 2 "16,001-18,000" 5,683.75 5,683.74 019-880-009-000 11011 GHIRARD RD 300,751.00 1,443,611.00 1,744,362.00 2 "16,001-18,000" 5,683.75 5,683.74 019-880-010-000 11031 GHIRARD RD 273,076.00 1,482,916.00 1,755,992.00 2 "16,001-18,000" 5,683.75 5,683.74 019-880-011-000 11051 GHIRARD RD 357,000.00 0.00 357,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-880-012-000 11000 GHIRARD RD 162,833.00 1,082,051.00 1,244,884.00 2 "14,001-16,000" 5,494.29 5,494.28 019-880-013-000 11020 GHIRARD RD 144,985.00 910,000.00 1,054,985.00 2 "18,001-20,000" 5,873.21 5,873.20 019-880-014-000 11040 GHIRARD RD 297,668.00 1,975,438.00 2,273,106.00 2 "18,001-20,000" 5,873.21 5,873.20 019-880-015-000 11060 GHIRARD RD 77,317.00 0.00 77,317.00 2 "20,001-22,000" 6,062.67 6,062.66 019-880-016-000 11080 GHIRARD RD 369,000.00 0.00 369,000.00 2 "16,001-18,000" 5,683.75 5,683.74 019-880-017-000 11100 GHIRARD RD 500,000.00 2,625,000.00 3,125,000.00 2 "16,001-18,000" 5,683.75 5,683.74 019-880-018-000 11120 GHIRARD RD 442,170.00 0.00 442,170.00 2 "18,001-20,000" 5,873.21 5,873.20 019-890-002-000 11691 GHIRARD RD 89,544.00 1,052,490.00 1,142,034.00 2 "16,001-18,000" 5,683.75 5,683.74 Willdan Financial Services Page 5 of 10 Page 110 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 019-890-003-000 11711 GHIRARD RD 290,154.00 1,976,760.00 2,266,914.00 2 "16,001-18,000" 5,683.75 5,683.74 019-890-004-000 11731 GHIRARD RD 440,640.00 0.00 440,640.00 2 "16,001-18,000" 5,683.75 5,683.74 019-890-005-000 11751 GHIRARD RD 357,000.00 1,938,000.00 2,295,000.00 2 "18,001-20,000" 5,873.21 5,873.20 019-890-006-000 11771 GHIRARD RD 216,485.00 0.00 216,485.00 2 "16,001-18,000" 5,683.75 5,683.74 019-890-007-000 11791 GHIRARD RD 293,760.00 2,130,474.00 2,424,234.00 2 "16,001-18,000" 5,683.75 5,683.74 019-890-008-000 11831 GHIRARD RD 280,170.00 2,699,838.00 2,980,008.00 2 "20,001-22,000" 6,062.67 6,062.66 019-890-009-000 11840 GHIRARD RD 127,661.00 1,231,115.00 1,358,776.00 2 "16,001-18,000" 5,683.75 5,683.74 019-890-010-000 11820 GHIRARD RD 343,740.00 0.00 343,740.00 2 "16,001-18,000" 5,683.75 5,683.74 019-890-011-000 11800 GHIRARD RD 127,680.00 1,731,890.00 1,859,570.00 2 "14,001-16,000" 5,494.29 5,494.28 019-890-012-000 11780 GHIRARD RD 107,800.00 0.00 107,800.00 2 "14,001-16,000" 5,494.29 5,494.28 019-890-013-000 11760 GHIRARD RD 408,000.00 2,284,800.00 2,692,800.00 2 "14,001-16,000" 5,494.29 5,494.28 019-890-014-000 11950 BOTTCHER LP 81,939.00 1,321,017.00 1,402,956.00 2 "18,001-20,000" 5,873.21 5,873.20 019-890-015-000 11930 BOTTCHER LP 110,948.00 0.00 110,948.00 2 "14,001-16,000" 5,494.29 5,494.28 019-890-016-000 11910 BOTTCHER LP 486,835.00 1,292,908.00 1,779,743.00 2 "14,001-16,000" 5,494.29 5,494.28 019-890-017-000 11720 GHIRARD RD 279,811.00 435,000.00 714,811.00 2 "16,001-18,000" 5,683.75 5,683.74 019-890-018-000 11700 GHIRARD RD 449,820.00 2,014,194.00 2,464,014.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-002-000 11021 HENNESS RD 142,171.00 1,131,921.00 1,274,092.00 2 "18,001-20,000" 5,873.21 5,873.20 019-900-003-000 11041 HENNESS RD 141,700.00 0.00 141,700.00 2 "16,001-18,000" 5,683.75 5,683.74 019-900-004-000 11061 HENNESS RD 275,914.00 2,695,468.00 2,971,382.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-005-000 11081 HENNESS RD 139,267.00 1,502,956.00 1,642,223.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-006-000 11111 HENNESS RD 240,298.00 0.00 240,298.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-007-000 11121 HENNESS RD 388,717.00 2,208,300.00 2,597,017.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-008-000 11141 HENNESS RD 37,676.00 0.00 37,676.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-009-000 11149 HENNESS RD 270,608.00 1,948,377.00 2,218,985.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-010-000 11150 HENNESS RD 191,967.00 2,687,700.00 2,879,667.00 2 "16,001-18,000" 5,683.75 5,683.74 019-900-011-000 11130 HENNESS RD 335,580.00 2,593,554.00 2,929,134.00 2 "16,001-18,000" 5,683.75 5,683.74 019-900-012-000 11110 HENNESS RD 167,923.00 2,998,336.00 3,166,259.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-900-013-000 11002 MEEK CT 363,902.00 2,448,000.00 2,811,902.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-900-014-000 11022 MEEK CT 160,079.00 1,071,337.00 1,231,416.00 2 "18,001-20,000" 5,873.21 5,873.20 019-900-017-000 11093 MEEK CT 611,297.00 1,528,347.00 2,139,644.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-018-000 11073 MEEK CT 182,050.00 1,479,176.00 1,661,226.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-019-000 11053 MEEK CT 163,100.00 0.00 163,100.00 2 "20,001-22,000" 6,062.67 6,062.66 019-900-020-000 11033 MEEK CT 156,171.00 1,405,551.00 1,561,722.00 2 "20,001-22,000" 6,062.67 6,062.66 019-900-021-000 11090 HENNESS RD 189,425.00 1,093,256.00 1,282,681.00 2 "16,001-18,000" 5,683.75 5,683.74 019-900-022-000 11070 HENNESS RD 487,093.00 2,164,864.00 2,651,957.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-900-023-000 11042 HENNESS RD 244,631.00 1,519,000.00 1,763,631.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-900-024-000 11036 HENNESS RD 246,068.00 1,547,508.00 1,793,576.00 2 "20,001-22,000" 6,062.67 6,062.66 019-900-025-000 11030 HENNESS RD 166,663.00 2,186,512.00 2,353,175.00 2 "18,001-20,000" 5,873.21 5,873.20 019-900-026-000 11010 HENNESS RD 49,029.00 0.00 49,029.00 2 "16,001-18,000" 5,683.75 5,683.74 019-900-027-000 11052 MEEK CT 242,388.00 1,503,419.00 1,745,807.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-910-001-000 11159 HENNESS RD 357,000.00 2,728,500.00 3,085,500.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-002-000 11169 HENNESS RD 441,048.00 1,789,590.00 2,230,638.00 2 "20,001-22,000" 6,062.67 6,062.66 019-910-003-000 11199 HENNESS RD 334,000.00 0.00 334,000.00 2 "18,001-20,000" 5,873.21 5,873.20 019-910-004-000 11219 HENNESS RD 88,781.00 0.00 88,781.00 2 "12,001-14,000" 5,304.83 5,304.82 019-910-005-000 11239 HENNESS RD 156,171.00 1,584,035.00 1,740,206.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-006-000 11259 HENNESS RD 118,377.00 956,505.00 1,074,882.00 2 "14,001-16,000" 5,494.29 5,494.28 Willdan Financial Services Page 6 of 10 Page 111 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 019-910-007-000 11330 HENNESS RD 199,129.00 2,881,179.00 3,080,308.00 2 "18,001-20,000" 5,873.21 5,873.20 019-910-008-000 11310 HENNESS RD 77,441.00 1,471,535.00 1,548,976.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-009-000 11290 HENNESS RD 240,600.00 1,432,673.00 1,673,273.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-010-000 11270 HENNESS RD 349,860.00 1,949,220.00 2,299,080.00 2 "12,001-14,000" 5,304.83 5,304.82 019-910-011-000 11250 HENNESS RD 351,789.00 1,596,586.00 1,948,375.00 2 "12,001-14,000" 5,304.83 5,304.82 019-910-012-000 11230 HENNESS RD 572,220.00 2,653,020.00 3,225,240.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-013-000 11210 HENNESS RD 129,153.00 772,286.00 901,439.00 2 "12,001-14,000" 5,304.83 5,304.82 019-910-014-000 11190 HENNESS RD 757,328.00 1,623,648.00 2,380,976.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-015-000 11170 HENNESS RD 191,386.00 1,438,141.00 1,629,527.00 2 "18,001-20,000" 5,873.21 5,873.20 019-910-016-000 11851 GHIRARD RD 345,104.00 2,737,916.00 3,083,020.00 2 "18,001-20,000" 5,873.21 5,873.20 019-910-017-000 11871 GHIRARD RD 313,268.00 2,546,899.00 2,860,167.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-018-000 11881 GHIRARD RD 49,250.00 0.00 49,250.00 2 "16,001-18,000" 5,683.75 5,683.74 019-910-019-000 11890 GHIRARD RD 51,714.00 0.00 51,714.00 2 "20,001-22,000" 6,062.67 6,062.66 019-910-020-000 11880 GHIRARD RD 135,800.00 1,194,900.00 1,330,700.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-021-000 11860 GHIRARD RD 39,401.00 0.00 39,401.00 2 "14,001-16,000" 5,494.29 5,494.28 043-010-002-000 NO SITUS AVAILABLE 167,325.00 0.00 167,325.00 2 GC2 31,550.34 31,550.32 043-010-003-000 NO SITUS AVAILABLE 263,259.00 40,156.00 303,415.00 2 GC2 74,301.41 74,301.40 043-010-004-000 10874 HENNESS RD 17,846.00 99,279.00 117,125.00 2 GC1 6,471.33 6,471.32 043-010-005-000 NO SITUS AVAILABLE 524,948.00 0.00 524,948.00 2 Undeveloped 181,955.74 181,955.74 043-010-006-000 NO SITUS AVAILABLE 228,679.00 0.00 228,679.00 2 GC1 130,357.50 130,357.50 043-010-007-000 NO SITUS AVAILABLE 546,820.00 0.00 546,820.00 2 Undeveloped 312,189.38 312,189.36 043-010-008-000 11410 HENNESS RD 179,596.00 1,695,586.00 1,875,182.00 2 GC1 14,737.80 14,737.78 043-020-003-000 10980 GHIRARD CT 260,100.00 3,433,320.00 3,693,420.00 2 "20,001-22,000" 6,062.67 6,062.66 043-020-006-000 10956 RYLEY CT 431,460.00 0.00 431,460.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-007-000 10954 RYLEY CT 350,000.00 3,240,000.00 3,590,000.00 2 "20,001-22,000" 6,062.67 6,062.66 043-020-008-000 10952 RYLEY CT 355,433.00 1,695,150.00 2,050,583.00 2 "18,001-20,000" 5,873.21 5,873.20 043-020-009-000 10950 RYLEY CT 164,045.00 1,230,350.00 1,394,395.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-010-000 10948 RYLEY CT 479,300.00 390,000.00 869,300.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-011-000 10946 RYLEY CT 259,776.00 1,544,226.00 1,804,002.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-012-000 10944 RYLEY CT 258,789.00 0.00 258,789.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-013-000 10942 RYLEY CT 202,262.00 0.00 202,262.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-014-000 10940 RYLEY CT 73,880.00 1,592,583.00 1,666,463.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-020-015-000 10940 GHIRARD CT 43,093.00 0.00 43,093.00 2 Exempt 0.00 0.00 043-020-016-000 NO SITUS AVAILABLE 110,323.00 0.00 110,323.00 2 Exempt 0.00 0.00 043-020-017-000 10920 GHIRARD CT 116,450.00 0.00 116,450.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-018-000 10900 GHIRARD CT 301,865.00 0.00 301,865.00 2 "20,001-22,000" 6,062.67 6,062.66 043-020-019-000 10880 GHIRARD CT 552,143.00 1,840,134.00 2,392,277.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-020-020-000 10860 GHIRARD CT 323,671.00 1,100,928.00 1,424,599.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-020-021-000 10840 GHIRARD CT 334,054.00 1,444,595.00 1,778,649.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-020-022-000 10820 GHIRARD CT 450,000.00 2,950,000.00 3,400,000.00 2 "18,001-20,000" 5,873.21 5,873.20 043-020-023-000 10800 GHIRARD CT 208,393.00 0.00 208,393.00 2 "14,001-16,000" 5,494.29 5,494.28 043-020-024-000 10780 GHIRARD CT 196,130.00 0.00 196,130.00 2 "8,000-12,000" 5,115.37 5,115.36 043-020-025-000 10760 GHIRARD CT 96,082.00 2,067,451.00 2,163,533.00 2 "18,001-20,000" 5,873.21 5,873.20 043-020-026-000 10911 GHIRARD CT 273,408.00 1,872,865.00 2,146,273.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-027-000 10931 GHIRARD CT 420,000.00 0.00 420,000.00 2 "18,001-20,000" 5,873.21 5,873.20 043-020-028-000 10951 GHIRARD CT 62,796.00 1,067,643.00 1,130,439.00 2 "18,001-20,000" 5,873.21 5,873.20 Willdan Financial Services Page 7 of 10 Page 112 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 043-020-029-000 10971 GHIRARD CT 156,994.00 2,249,760.00 2,406,754.00 2 "20,001-22,000" 6,062.67 6,062.66 043-020-030-000 10960 RYLEY CT 164,938.00 1,484,472.00 1,649,410.00 2 "20,001-22,000" 6,062.67 6,062.66 043-030-001-000 11545 HENNESS RD 572,220.00 2,548,980.00 3,121,200.00 2 "16,001-18,000" 5,683.75 5,683.74 043-030-002-000 11539 HENNESS RD 142,051.00 0.00 142,051.00 2 "14,001-16,000" 5,494.29 5,494.28 043-030-003-000 11533 HENNESS RD 410,115.00 1,443,611.00 1,853,726.00 2 "18,001-20,000" 5,873.21 5,873.20 043-030-004-000 11527 HENNESS RD 256,567.00 1,515,988.00 1,772,555.00 2 "20,001-22,000" 6,062.67 6,062.66 043-030-005-000 11521 HENNESS RD 300,751.00 1,492,825.00 1,793,576.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-007-000 11497 HENNESS RD 284,970.00 2,596,920.00 2,881,890.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-008-000 11475 HENNESS RD 432,972.00 2,126,978.00 2,559,950.00 2 "20,001-22,000" 6,062.67 6,062.66 043-030-009-000 11430 HENNESS RD 261,699.00 1,278,918.00 1,540,617.00 2 "14,001-16,000" 5,494.29 5,494.28 043-030-010-000 11438 HENNESS RD 299,880.00 1,699,320.00 1,999,200.00 2 "14,001-16,000" 5,494.29 5,494.28 043-030-011-000 11446 HENNESS RD 218,009.00 2,129,771.00 2,347,780.00 2 "14,001-16,000" 5,494.29 5,494.28 043-030-012-000 11454 HENNESS RD 190,519.00 1,665,779.00 1,856,298.00 2 "18,001-20,000" 5,873.21 5,873.20 043-030-013-000 11462 HENNESS RD 372,439.00 1,710,622.00 2,083,061.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-014-000 11470 HENNESS RD 104,664.00 0.00 104,664.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-015-000 11478 HENNESS RD 510,000.00 2,862,873.00 3,372,873.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-016-000 11486 HENNESS RD 318,240.00 2,080,800.00 2,399,040.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-017-000 11494 HENNESS RD 484,500.00 3,034,500.00 3,519,000.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-018-000 11502 HENNESS RD 98,509.00 0.00 98,509.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-019-000 11510 HENNESS RD 262,200.00 0.00 262,200.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-020-000 11518 HENNESS RD 276,529.00 1,722,491.00 1,999,020.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-021-000 11526 HENNESS RD 335,580.00 2,253,180.00 2,588,760.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-022-000 11534 HENNESS RD 191,053.00 1,526,167.00 1,717,220.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-023-000 11542 HENNESS RD 284,345.00 1,684,213.00 1,968,558.00 2 "20,001-22,000" 6,062.67 6,062.66 043-040-003-000 11687 HENNESS RD 382,500.00 2,677,500.00 3,060,000.00 2 "14,001-16,000" 5,494.29 5,494.28 043-040-004-000 11679 HENNESS RD 269,280.00 3,035,520.00 3,304,800.00 2 "16,001-18,000" 5,683.75 5,683.74 043-040-005-000 11671 HENNESS RD 500,000.00 0.00 500,000.00 2 "16,001-18,000" 5,683.75 5,683.74 043-040-006-000 11667 HENNESS RD 250,989.00 1,143,405.00 1,394,394.00 2 "16,001-18,000" 5,683.75 5,683.74 043-040-007-000 11655 HENNESS RD 335,580.00 2,056,626.00 2,392,206.00 2 "18,001-20,000" 5,873.21 5,873.20 043-040-008-000 11647 HENNESS RD 335,580.00 1,869,660.00 2,205,240.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-009-000 11639 HENNESS RD 500,000.00 3,175,000.00 3,675,000.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-010-000 11633 HENNESS RD 500,000.00 0.00 500,000.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-011-000 11627 HENNESS RD 395,086.00 1,986,262.00 2,381,348.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-012-000 11623 HENNESS RD 500,000.00 2,408,000.00 2,908,000.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-013-000 11615 HENNESS RD 260,446.00 1,302,812.00 1,563,258.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-014-000 11607 HENNESS RD 185,063.00 2,833,425.00 3,018,488.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-015-000 11595 HENNESS RD 608,479.00 1,364,245.00 1,972,724.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-016-000 11583 HENNESS RD 273,076.00 1,695,364.00 1,968,440.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-017-000 11575 HENNESS RD 273,076.00 1,475,761.00 1,748,837.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-018-000 11561 HENNESS RD 273,408.00 1,530,008.00 1,803,416.00 2 "20,001-22,000" 6,062.67 6,062.66 043-040-019-000 11553 HENNESS RD 474,300.00 3,019,200.00 3,493,500.00 2 "18,001-20,000" 5,873.21 5,873.20 043-040-020-000 11550 HENNESS RD 258,942.00 2,684,232.00 2,943,174.00 2 "20,001-22,000" 6,062.67 6,062.66 043-040-021-000 11558 HENNESS RD 195,653.00 1,394,142.00 1,589,795.00 2 "18,001-20,000" 5,873.21 5,873.20 043-040-022-000 11566 HENNESS RD 349,860.00 1,799,280.00 2,149,140.00 2 "18,001-20,000" 5,873.21 5,873.20 043-040-023-000 11574 HENNESS RD 270,608.00 1,591,174.00 1,861,782.00 2 "20,001-22,000" 6,062.67 6,062.66 043-040-024-000 11582 HENNESS RD 468,180.00 2,854,572.00 3,322,752.00 2 "Greater than 22,000" 6,252.12 6,252.12 Willdan Financial Services Page 8 of 10 Page 113 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 043-040-025-000 11590 HENNESS RD 273,408.00 1,066,303.00 1,339,711.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-026-000 11598 HENNESS RD 586,053.00 249,739.00 835,792.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-027-000 11606 HENNESS RD 254,592.00 1,635,672.00 1,890,264.00 2 "16,001-18,000" 5,683.75 5,683.74 043-040-028-000 11614 HENNESS RD 335,580.00 2,636,700.00 2,972,280.00 2 "16,001-18,000" 5,683.75 5,683.74 043-040-029-000 11622 HENNESS RD 183,486.00 1,319,931.00 1,503,417.00 2 "20,001-22,000" 6,062.67 6,062.66 043-040-030-000 11630 HENNESS RD 257,910.00 2,203,200.00 2,461,110.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-031-000 11638 HENNESS RD 221,874.00 1,086,625.00 1,308,499.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-032-000 11646 HENNESS RD 103,509.00 405,000.00 508,509.00 2 "18,001-20,000" 5,873.21 5,873.20 043-040-033-000 11654 HENNESS RD 229,500.00 2,473,500.00 2,703,000.00 2 "16,001-18,000" 5,683.75 5,683.74 043-040-034-000 11662 HENNESS RD 335,580.00 2,727,786.00 3,063,366.00 2 "14,001-16,000" 5,494.29 5,494.28 043-050-002-000 10251 ANNIES LP 100,395.00 775,283.00 875,678.00 2 Condo 2,728.20 2,728.18 043-050-003-000 10249 ANNIES LP 104,449.00 678,939.00 783,388.00 2 Condo 2,728.20 2,728.18 043-050-004-000 10247 ANNIES LP 92,006.00 817,369.00 909,375.00 2 Condo 2,728.20 2,728.18 043-050-005-000 10239 ANNIES LP 100,395.00 853,369.00 953,764.00 2 Condo 2,728.20 2,728.18 043-050-007-000 10235 ANNIES LP 153,000.00 1,173,000.00 1,326,000.00 2 Condo 2,728.20 2,728.18 043-050-008-000 10229 ANNIES LP 108,242.00 920,066.00 1,028,308.00 2 Condo 2,728.20 2,728.18 043-050-009-000 10227 ANNIES LP 142,800.00 1,183,200.00 1,326,000.00 2 Condo 2,728.20 2,728.18 043-050-011-000 10215 ANNIES LP 108,242.00 898,418.00 1,006,660.00 2 Condo 2,728.20 2,728.18 043-050-012-000 10213 ANNIES LP 91,934.00 576,150.00 668,084.00 2 Condo 2,728.20 2,728.18 043-050-013-000 10211 ANNIES LP 37,676.00 728,507.00 766,183.00 2 Condo 2,728.20 2,728.18 043-050-014-000 10201 ANNIES LP 221,560.00 665,538.00 887,098.00 2 Condo 2,728.20 2,728.18 043-050-015-000 10199 ANNIES LP 134,507.00 1,506,490.00 1,640,997.00 2 Condo 2,728.20 2,728.18 043-050-017-000 10189 ANNIES LP 122,704.00 831,059.00 953,763.00 2 Condo 2,728.20 2,728.18 043-050-018-000 10187 ANNIES LP 383,520.00 982,770.00 1,366,290.00 2 Condo 2,728.20 2,728.18 043-050-019-000 10175 ANNIES LP 92,006.00 914,654.00 1,006,660.00 2 Condo 2,728.20 2,728.18 043-050-020-000 10173 ANNIES LP 311,610.00 1,078,650.00 1,390,260.00 2 Condo 2,728.20 2,728.18 043-050-024-000 NO SITUS AVAILABLE 0.00 0.00 0.00 2 Exempt 0.00 0.00 043-050-025-000 10222 EDWIN WAY 98,892.00 0.00 98,892.00 2 Undeveloped 7,692.01 7,692.00 043-050-026-000 10202 EDWIN WAY 98,892.00 0.00 98,892.00 2 Undeveloped 13,262.08 13,262.08 043-050-027-000 10204 EDWIN WAY 98,892.00 0.00 98,892.00 2 Undeveloped 11,935.87 11,935.86 043-060-009-000 10151 EDWIN WAY 142,462.00 0.00 142,462.00 2 Undeveloped 14,853.53 14,853.52 043-060-010-000 10105 EDWIN WAY 142,462.00 0.00 142,462.00 2 Undeveloped 9,018.21 9,018.20 043-060-011-000 10162 EDWIN WAY 778,419.00 0.00 778,419.00 2 Undeveloped 90,712.63 90,712.62 043-060-012-000 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 JAKE'S WAY 112,200.00 1,739,100.00 1,851,300.00 2 SFA 2,728.20 2,728.18 043-060-015-000 10125 JAKE'S WAY 112,200.00 1,739,100.00 1,851,300.00 2 SFA 2,728.20 2,728.18 043-060-016-000 10117 JAKE'S WAY 162,426.00 2,126,700.00 2,289,126.00 2 SFA 2,728.20 2,728.18 043-060-017-000 10109 JAKE'S WAY 107,100.00 2,305,200.00 2,412,300.00 2 SFA 2,728.20 2,728.18 043-060-018-000 10097 JAKE'S WAY 159,242.00 2,085,000.00 2,244,242.00 2 SFA 2,728.20 2,728.18 043-060-019-000 10089 JAKE'S WAY 150,000.00 2,105,000.00 2,255,000.00 2 SFA 2,728.20 2,728.18 043-060-020-000 10085 JAKE'S WAY 153,000.00 2,147,100.00 2,300,100.00 2 SFA 2,728.20 2,728.18 043-060-021-000 10077 JAKE'S WAY 162,426.00 2,126,700.00 2,289,126.00 2 SFA 2,728.20 2,728.18 043-060-022-000 10069 JAKE'S WAY 162,426.00 2,126,700.00 2,289,126.00 2 SFA 2,728.20 2,728.18 043-060-023-000 10061 JAKE'S WAY 162,426.00 2,126,700.00 2,289,126.00 2 SFA 2,728.20 2,728.18 043-060-024-000 10076 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 Willdan Financial Services Page 9 of 10 Page 114 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 043-060-025-000 10084 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-060-026-000 10096 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-060-027-000 10102 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-003-000 11768 HENNESS RD 176,773.00 0.00 176,773.00 2 Undeveloped 15,649.26 15,649.24 043-070-008-000 10036 EDWIN WAY 457,504.00 2,448,000.00 2,905,504.00 2 4PLEXSFA 10,912.80 10,912.78 043-070-009-000 10020 EDWIN WAY 0.00 0.00 0.00 2 Exempt 0.00 0.00 043-070-010-000 10012 EDWIN WAY 252,617.00 0.00 252,617.00 2 Undeveloped 26,258.92 26,258.90 043-070-011-000 10003 EDWIN WAY 0.00 0.00 0.00 2 Exempt 0.00 0.00 043-070-012-000 10053 JAKE'S WAY 162,426.00 1,677,900.00 1,840,326.00 2 SFA 2,728.20 2,728.18 043-070-013-000 10047 JAKE'S WAY 162,426.00 1,677,900.00 1,840,326.00 2 SFA 2,728.20 2,728.18 043-070-014-000 10041 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-015-000 10033 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-016-000 10027 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-017-000 10019 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-018-000 10026 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-019-000 10038 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-020-000 10046 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-021-000 10054 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 Total: $102,016,823.00 $493,469,939.00 $595,486,762.00 $3,501,871.27 $3,501,866.84 Total Charged Parcels: 425 Total Parcels: 432 Willdan Financial Services Page 10 of 10 Page 115 of 225 Wf'WILLDAN EXHIBIT B TRUCKEE DONNER PUD COMMUNITY FACILITIES DISTRICT NO. 04-1 (GRAYS CROSSING Boundary Diagram Page 116 of 225 IDENTIFICATION OF TAX ZONES FOR Y PROPOSEb COMMUNITY F ACLUTIE5 OT5TRICT NO. 04 1 v (GRAYS CROSSING) ;ITEr iRUCkEE bOf&! ER PUBLIC UTILITY DISTRICT re COUNTY OF NEVAbA 3 STATE OF CALIFOWNU A kU . , I I— _ __ _ )% Vrcxl%zTY MAP I 4 � � w os 1 4 l °s r 4 t I 1 AEc I ti I � l ti 1 ti n-.!ca 1 1 I�EC LEC7ENC, x.* + RS-X(Singly FamilyResiduTtial] t RM((Multi-Fan:Y idcrrtial] CN(Naighborhagd CommercFal) 0 RAC{Re.crenticn} ZONF 1 �� 05 70NE 2 KM NE NE d , r EMYMECU'16.INC. 1i IJT 6 W. suin 31 90 YJ 7. 6 mgi ImOO onvoe rwal IIOAG xlnC 3es, rnuoree,ew aa,el SHEET OI l Page 117 of 225 Wf'WILLDAN EXHIBIT C TRUCKEE DONNER PUD COMMUNITY FACILITIES DISTRICT NO. 04-1 (GRAYS CROSSING Delinquency Summary Page 118 of 225 DELINQUENCY SUMMARY BY DISTRICT Truckee Donner PUD Community Facilities District No. i ■ • ANZY 7M 0 = 1 2009/10-1 $1,119,963.85 $38,366.44 3.43% 416 3 08/29/2025 2009/10-2 $1,119,963.85 $38,366.44 3.43% 416 3 08/29/2025 2010/11-1 $1,165,181.90 $202,912.48 17.41% 416 3 08/29/2025 2010/11-2 $1,165,181.90 $202,912.48 17.41% 416 3 08/29/2025 2011/12-1 $1,195,150.68 $211,675.49 17.71% 416 3 08/29/2025 2011/12-2 $1,195,150.68 $211,675.49 17.71% 416 3 08/29/2025 2012/13-1 $1,236,735.78 $228,393.70 18.47% 416 3 08/29/2025 2012/13-2 $1,236,735.78 $228,393.70 18.47% 416 3 08/29/2025 2013/14-1 $1,264,729.82 $235,262.73 18.60% 416 3 08/29/2025 2013/14-2 $1,264,729.82 $235,262.73 18.60% 416 3 08/29/2025 2014/15-1 $1,284,580.98 $236,125.03 18.38% 416 3 08/29/2025 2014/15-2 $1,284,580.98 $236,125.03 18.38% 416 3 08/29/2025 2015/16-1 $1,299,558.24 $235,092.91 18.09% 415 3 08/29/2025 2015/16-2 $1,299,558.24 $235,092.91 18.09% 415 3 08/29/2025 2016/17-1 $1,319,863.48 $238,534.36 18.07% 413 3 08/29/2025 2016/17-2 $1,319,863.48 $238,534.36 18.07% 413 3 08/29/2025 2017/18-1 $1,241,081.09 $161,671.77 13.03% 413 3 08/29/2025 2017/18-2 $1,241,081.09 $161,671.77 13.03% 413 3 08/29/2025 2018/19-1 $1,252,842.07 $160,968.00 12.85% 408 3 08/29/2025 2018/19-2 $1,252,842.07 $160,968.00 12.85% 408 3 08/29/2025 2019/20-1 $1,289,656.10 $107,253.01 8.32% 407 3 08/29/2025 2019/20-2 $1,289,656.10 $107,253.01 8.32% 407 3 08/29/2025 2020/21-1 $1,302,711.62 $171,712.74 13.18% 407 4 08/29/2025 2020/21-2 $1,302,711.62 $173,840.55 13.34% 407 5 08/29/2025 2021/22-1 $1,327,863.06 $171,699.18 12.93% 407 3 08/29/2025 2021/22-2 $1,327,863.06 $171,699.18 12.93% 407 3 08/29/2025 2022/23-1 $1,466,825.70 $270,193.37 18.42% 426 3 08/29/2025 2022/23-2 $1,466,825.70 $270,193.37 18.42% 426 3 08/29/2025 2023/24-1 $1,516,384.84 $293,056.85 19.33% 425 3 08/29/2025 2023/24-2 $1,516,384.84 $293,056.85 19.33% 425 3 08/29/2025 2024/25-1 $1,716,601.53 $439,060.28 25.58% 425 5 08/29/2025 2024/25-2 $1,716,601.53 $441,753.55 25.73% 425 6 08/29/2025 TOTAL $41,999,461.48 $6,808,777.77 16.21% Willdan Financial Services Page 1 Page 119 of 225 Wf'WILLDAN EXHIBIT D TRUCKEE DONNER PUD CFD 04-1 (GRAYS CROSSING) SERIES 2004 AND SERIES 2005 Debt Service Schedules Page 120 of 225 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 $10,280,000.00 Matured Principal 4,955,000.00 Called Principal 140,000.00 Total Bond Issue $15,375,000.00 Willdan Financial Services Page 1 of 1 Page 121 of 225 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 $12,350,000.00 Matured Principal 6,625,000.00 Called Principal 180,000.00 Total Bond Issue $19,155,000.00 Willdan Financial Services Page 1 of 1 Page 122 of 225 Wf'WILLDAN EXHIBIT E TRUCKEE DONNER PUD COMMUNITY FACILITIES DISTRICT NO. 04-1 (GRAYS CROSSING Rate and Method of Apportionment of Special Tax Page 123 of 225 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 124 of 225 "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 125 of 225 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 126 of 225 "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 127 of 225 "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 128 of 225 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 129 of 225 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 130 of 225 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 131 of 225 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 132 of 225 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 133 of 225 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 134 of 225 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 135 of 225 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 2024/2025 ANNUAL CONTINUING DISCLOSURE INFORMATION STATEMENT . JANUARY 15, 2026 . . NVWILLDAN + 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 136 of 225 DRAFT FOR DISCUSSION PURPOSES ONLY *"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 333 South Hope Street, Suite 2525 Los Angeles, California 90071 (213) 553-4486 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 137 of 225 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 2024/2025 CFD 04-1 (Gray's Crossing) Page 1 of 7 Page 138 of 225 DRAFT FOR DISCUSSION PURPOSES ONLY -IVW 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. 2024/2025 CFD 04-1 (Gray's Crossing) Page 2 of 7 Page 139 of 225 DRAFT FOR DISCUSSION PURPOSES ONLY *"WI LLDAN II. BOND INFORMATION A. PRINCIPAL OUTSTANDING Bond Issue As of June 30, 2025 CFD 04-1 Gray's Crossing Special Tax Bonds Series 2004 $10,920,000 CFD 04-1 Gray's Crossing Special Tax Bonds Series 2005 13,145,000 Total0. 000 B. FUND BALANCES Fund Balances As of June 30, 2025 Special Tax Fund $1,779,918 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 $54,042 Administrative Expense Fund $62,191 Rebate Fund $0 Surplus Fund $7,384 Reserve Account of the Special Tax Fund $1,963,629 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, 2025, a draw on the Reserve Fund for $171,894 was performed in order to pay the September 1 , 2025 Debt Service Payment on the Bonds. The District had insufficient funds to make the full debt service payment of$2,051,210 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 August 26, 2025. 2024/2025 CFD 04-1 (Gray's Crossing) Page 3 of 7 Page 140 of 225 DRAFT FOR DISCUSSION PURPOSES ONLY *"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, 2025 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, 2025, not June 30, 2025. Therefore, the audited financial statements will be disseminated when completed by June 30, 2026 and still within the six months following the end of the District's fiscal year. 2024/2025 CFD 04-1 (Gray's Crossing) Page 4 of 7 Page 141 of 225 DRAFT FOR DISCUSSION PURPOSES ONLY -*NVW 1 LLDAN IV. OPERATING INFORMATION A. DELINQUENCY SUMMARY The following table sets forth a summary of the delinquent Annual Special Taxes within the District. Number of Delinquent Percent of Fiscal Number of Parcels Total Annual Special Tax Special Tax Year Parcels Delinquent Special Tax Amount(1) Delinquent 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 3 $2,579,312 $214,506 8.32% 2020/21 407 5 $2,605,423 $345,553 13.26% 2021/22 407 3 $2,655,726 $343,398 12.93% 2022/23 426 3 $2,933,651 $540,387 18.42% 2023/24 425 3 $3,032,770 $586,114 19.33% 2024/25 425 6 $3,433,203 $880,814 25.66% Amount delinquent as of August 29,2025. 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 5,741 $2,965,488 019-780-006-000 2024/25 262 $4,458 019-840-028-000 2024/25 141 $2,693 019-870-019-000 2024/25 262 $5,387 019-900-020-000 2020/21 1,723 $5,491 043-010-005-000 2009/10 5,741 $1,413,758 043-010-007-000 2009/10 5,741 $2,409,375 Amount delinquent as of August 29,2025. Source:Nevada County Tax Collector,as compiled by Willdan Financial Services. 2024/2025 CFD 04-1 (Gray's Crossing) Page 5 of 7 Page 142 of 225 DRAFT FOR DISCUSSION PURPOSES ONLY ')VW I LLDAN 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 October 8, 2025, a Notice of Intent to Remove Delinquent Special Tax Installments from the Tax Roll was recorded with Nevada County for six (6) delinquent parcels. On October 27, 2025, six (6) parcels were sent to the Foreclosure Attorney for collection of the Fiscal Year 2024/25 delinquencies. As of the date of this Report, six (6) 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 $2,965,488 019-780-006-000 2024/25 $4,458 019-840-028-000 2024/25 $2,693 019-870-019-000 2024/25 $5,387 043-010-005-000 2009/10 $1,413,758 043-010-007-000 2009/10 $2,409,375 Amount delinquent as of November 26,2025. 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. Parcel 2025/26 Percent of 2025126 Category Count Assessed Value Bonds(1) Lien Ratio Special Tax Special Tax Special Tax 408 $588,888,319 $14,594,246 40.35 $2,123,714 60.65% $2,123,710 Golf Course 6 2,900,323 2,083,144 1.39 303,133 8.66% 303,133 Undeveloped(3) 11 3,544,704 7,387,610 0.48 1,075,024 30.70% 1,075,024 O)Calculated as the pro-rata share of the Maximum Tax times the principal outstanding on the Bonds as of June 30,2025. (2)The Residential Category contains 125 parcels that have no structure value. (3)The Undeveloped Category contains 7 Commercial parcels. Note:Totals may not tie due to rounding. Source:Nevada County 2025126 Secured Property Roll,as compiled by Willdan Financial Services. 2024/2025 CFD 04-1 (Gray's Crossing) Page 6 of 7 Page 143 of 225 DRAFT FOR DISCUSSION PURPOSES ONLY Wr'W I LLDAN D. PRINCIPAL PROPERTY OWNERS The following table sets forth the principal property owners within the District for Fiscal Year 2025/26. The information in this table is based on the Nevada County 2025/26 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 '25/26 2025/26 Maximum Applied OwnerParcel Special Special Property Siddiqui Family Partnership LP(1) 2 $573,452 $573,452 $1,208,475 $- $1,208,475 Dk Alviso LLC(1) 1 312,189 312,189 546,820 - 546,820 Tahoe Club Co. LLC 6 303,133 303,133 1,021,799 1,878,524 2,900,323 Gray's Crossing Investments LLC (1) 7 98,670 98,670 1,010,990 - 1,010,990 Gray's Crossing Land Holdings LLC(1) 1 90,713 90,713 778,419 - 778,419 Village at Gray's Crossing LLC 19 60,020 60,020 2,662,668 14,268,900 16,931,568 Greenstein Martin R Trste Etal 9 42,098 42,098 891,712 1,683,000 2,574,712 Investment Specialty Group LLC(1) 3 16,483 16,483 1,191,560 - 1,191,560 Case John S Trste Etal 3 16,483 16,483 500,605 2,067,451 2,568,056 Rahimian Javad &Shirin Trstes 2 12,125 12,125 271,432 3,403,336 3,674,768 Other Property Owners 372 1,976,505 1,976,501 91,778,927 470,168,728 561,947,655 Total 425 i i i (1)Parcels are categorized as undeveloped. Note:Totals may not tie due to rounding. Source:Nevada County 2025126 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. 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. 2024/2025 CFD 04-1 (Gray's Crossing) Page 7 of 7 Page 144 of 225 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 10/15/2025 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 Mello Roos Report Information as of Reporting Year End: 6/30/2025 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: 8/31/2004 Settlement Date: 9/14/2004 Original Principal Amount: $15,375,000.00 Date of Filing: 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: Fitch: Moody's: Other: Page 1 of 3 Page 145 of 225 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 10/15/2025 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 Fund Balance Principal Amount of Bonds Outstanding: $10,900,000.00 Bond Reserve Fund: $900,548.90 Capitalized Interest Fund: $0.00 Construction Fund(s): $0.00 Assessed Value Assessed or Appraised Value Reported as of: 7/l/2025 Use Appraised Value only in first year or before annual tax roll billing commences: From Equalized Tax Roll Total Assessed Value of All Parcels: $595,333,346.00 Tax Collection Total Amount of Special Taxes Due Annually: $3,433,203.06 Total Amount of Unpaid Special Taxes Annually: $880,813.83 Does this agency participate in the County's Teeter Plan? No Delinquent Reporting Delinquent Parcel Information Reported as of Equalized Tax Roll of: 8/29/2025 Total Number of Delinquent Parcels: 8 Total Amount of Special Taxes Due on Delinquent Parcels: $6,808,777.77 Delinquency Parcel Reporting Document Type Document Name File Upload Date Delinquent Parcel Detail Report FY2425 TDPUD CFD 04-1 CDIAC DQ Report.pdf 10/9/2025 Foreclosure Date Foreclosure Commenced Total Number of Foreclosure Parcels Total Amount of Tax on Foreclosure Parcels 10/8/2025 6 $880,814.00 Page 2 of 3 Page 146 of 225 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 10/15/2025 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 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,Ste 200 City: Temecula State: CA Zip Code: 92590 Telephone: 951-5873519 Fax Number: E-mail: rlane@willdan.com Comments Issuer Comments: A draw on the Reserve Fund was completed on 9/l/25 in order to pay debt service. Page 3 of 3 Page 147 of 225 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 10/15/2025 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 Mello Roos Report Information as of Reporting Year End: 6/30/2025 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: 6/21/2005 Settlement Date: 6/21/2005 Original Principal Amount: $19,155,000.00 Date of Filing: 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: Fitch: Moody's: Other: Page 1 of 3 Page 148 of 225 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 10/15/2025 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 Fund Balance Principal Amount of Bonds Outstanding: $13,120,000.00 Bond Reserve Fund: $1,063,080.57 Capitalized Interest Fund: $0.00 Construction Fund(s): $0.00 Assessed Value Assessed or Appraised Value Reported as of: 7/l/2025 Use Appraised Value only in first year or before annual tax roll billing commences: From Equalized Tax Roll Total Assessed Value of All Parcels: $595,333,346.00 Tax Collection Total Amount of Special Taxes Due Annually: $3,433,203.06 Total Amount of Unpaid Special Taxes Annually: $880,813.83 Does this agency participate in the County's Teeter Plan? No Delinquent Reporting Delinquent Parcel Information Reported as of Equalized Tax Roll of: 8/29/2025 Total Number of Delinquent Parcels: 8 Total Amount of Special Taxes Due on Delinquent Parcels: $6,808,777.77 Delinquency Parcel Reporting Document Type Document Name File Upload Date Delinquent Parcel Detail Report FY2425 TDPUD CFD 04-1 CDIAC DQ Report.pdf 10/9/2025 Foreclosure Date Foreclosure Commenced Total Number of Foreclosure Parcels Total Amount of Tax on Foreclosure Parcels 10/8/2025 6 $880,814.00 Page 2 of 3 Page 149 of 225 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 10/15/2025 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 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,Ste 200 City: Temecula State: CA Zip Code: 92590 Telephone: 951-5873519 Fax Number: E-mail: rlane@willdan.com Comments Issuer Comments: A draw on the Reserve Fund was completed on 9/l/25 in order to pay debt service. Page 3 of 3 Page 150 of 225 TRUCKEE DON N ER AGENDA ITEM #15 PUBLIC UTILITY DISTRICT MEETING DATE: July 1, 2026 TO: Board of Directors FROM: Michael Salmon, Chief Financial Officer SUBJECT: Consideration of Authorizing the General Manager to Execute the Agreement Regarding APN# 043-010-005-000. APPROVED BY: Brian C. Wright, General Manager RECOMMENDATION: a. Determine that the waiver of current Penalty and Interest for APN# 043-010-005-000 agreement complies with the requirements of Government Code section 53340(f); and b. Authorize the General Manager to execute the Agreement regarding APN# 043-010- 005-000; 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 the 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 425 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. 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. Page 1 of 5 Page 151 of 225 Truckee Donner Public Utility District Community Facilities District No.04-1(Gray'sCrossing) Compiled byWilldan Financial Services. Delinquent Special Tax Installments Parcel Assessor Parcel Total Penalties and Owner Number APN Installments Penalties Interest Delinquencies lnteresf Only Siddlqul 019-770-002-000 $ 3,356,984.65 $ 335,698.50 $4,088,022.12 $ 7,780,705.27 $ 4,423,720.62 Siddiqui 043-010-005-000 1,595,714.22 159,571.44 1,937,781.85 3,693,067.51 2,097,353.29 DKALVISO 043-010-007-000 2,721,564.00 272,156.43 3,307,405.18 6,301,125.61 3,579,561.61 Totals,as of 6130126 $ 7,674,262.87 $ 767,426.37 $ 9,333,209.15 $17,774,898.39 $10,100,635.52 Siddiqui full owner name is Siddiqui Family Partnership, L.P DK ALVISO full owner name is DK Alivso LLC. For the DK Alviso parcel, the Board approved an agreement on January 5, 2022, an agreement 24-month extension on June 7, 2022, an 18-month extension on June 5, 2024, and a 12-month extension on November 19, 2025, which expires December 6, 2026. The new buyer, developer Paradigm8, is in the final stages of permitting approvals with the Town of Truckee. 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. ANALYSIS AND BODY: Siddiqui Family Partnership, L.P., the owner of parcel APN # 043-010-005-000, has a potential buyer, Hartford Land Management, for the 043-010-005-000 property, which could solve the delinquent tax problem. Further details on amounts owed for this parcel are as follows: Details of parcel APN# 043-010-005-00 are as follows: Truckee Donner Public Utility District Community Facilities District No.04-1(Gray's Crossing) Compiled byWilldan Financial Services. Delinquent Special Tax Installments Parcel Assessor Parcel Total Penalties and Owner Number APN Installments Penalties Interest Delinquencies lntarPsfOnly Siddiqui 043-010-005-000 1,595,714.22 159,571,44 1,937,781.85 3,6133,067.51 2,097,353.29 Siddiqui Family Partnership, L.P. has presented the CFD (to the District as administrator of 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 Page 2 of 5 Page 152 of 225 future special tax delinquencies. The CFD's legal counsel, Stradling Yocca Carlson & Rauth, has reviewed the Agreement. 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 16 years by the three parcels amounts to $7.7 million in unpaid mello- roos taxes. Due primarily to these three parcels not paying each year over the last 16 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 $1.8 million. The reserve balance is not forecasted to be sufficient to make-whole through the end of the bond term in 2035, falling several years short. Further details related to the reserve account are provided in Attachment 2. The location of the subject parcel is in the bottom red right on below map, and is referred to as Lot D Gray's Crossing #3. The parcel is 6.86 acres per county assessor and is generally located north of 1-80 and south off Henness Road. Below in red are the three significant delinquency parcels locations. f � 4 �f c Siddiqui-01 f � ALVI m° Church 4z ACMS 4 e v` Hinton L4 '1& 1-043 00 Page 3 of 5 Page 153 of 225 California Government Code section 53340(f) is provided as Attachment 3. The code section specifies the following: (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. Additional information on CFD 04-1 Grays Crossing is provided in Attachment 4 Annual Report for FY25-26 and Attachment 5 Continuing Disclosure Report for FY24-25. GOALS AND OBJECTIVES: 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. Modernize the utility and add value to our communities through collaboration and innovation. 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 $1,595,714 would increase cash for the CFD, replenish the Reserve balance, and decrease accounts receivable. For the CFD, billed but not collected, penalties of $159,571 and interest of approximately $1,937,782 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 $1,595,714 and write-off of all past to current Penalties and Interest, the parcel can move forward with development/improvements to the parcel (subject Town of Truckee review and approvals). With said development, the Page 4 of 5 Page 154 of 225 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. GC Hartford Agreement 20260701 APN 043-010-005-000 2. CFD 04-1 Grays Crossing Significant Event 9.1.25 Reserve Draw - To Client 3. Cal Gov Code § 53340 4. FY2526 CFD 04-1 (Gray's Crossing) Annual Report 5. FY2425 TDPUD CFD 04-1 Continuing Disclosure - To Client Page 5 of 5 Page 155 of 225 GRAY'S CROSSING AGREEMENT This GRAY'S CROSSING PARCEL AGREEMENT("Agreement")dated for reference purposes only as of , 2026, is made by and between the Truckee Donner Public Utility District, a public utility district ("District"), Siddiqui Family Partnership, LP ("Owner"), and Harford Land Management,LLC ("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 043-010-005-000, commonly known as "Lot D" at Gray's Crossing Phase 3 at Henness Road, Truckee California 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. T 10-4287C(the"Action"),foreclosing on the special tax lien against the property, obtaining a Judgment of Foreclosure and Order of Sale on August 2, 2011. The Judgment was amended on February 10, 2021, and the total amount of the Judgment is currently $4,847,428.40, which includes penalties and interest through that date. (the "Judgment Amount"). 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 applicable penalties and interest. Upon such payment, District shall immediately waive all 1 4916-7231-1596v1/022925-0021 Page 156 of 225 applicable penalties and interest to the maximum extent permitted by law. As of June 30, 2026, the Principal Amount totals $1,595,714.22 and applicable penalties and interest that the District agrees to waive, total $2,097,353.29. 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 Principal Amounts, 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. 4916-7231-1596v1/022925-0021 Page 157 of 225 8. Term. The term of this Agreement shall be thirty (30) 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 parry's rights, in preparing to enforce, and in enforcing such parry'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 4916-7231-1596v1/022925-0021 Page 158 of 225 Buyer: Hartford Land Management 5525 Oak Hills Court Carmichael, CA 95608 Attn: Cameron Stewart Email: Cameron(&HartfordLandMan.com Either party may change their address for the purpose of this paragraph by giving written notice of such change to the other party 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 party 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. [Signature Pages to Follow] 4916-7231-1596v1/022925-0021 Page 159 of 225 District TRUCKEE DONNER PUBLIC UTILITY DISTRICT, a Dated: , 2026 By: Its: Owner Dated: , 2026 By: Its: Buyer Dated: , 2026 By: Its: 4916-7231-1596v1/022925-0021 Page 160 of 225 Exhibit A Legal Description of Property Real property in the Town of Truckee,County of Nevada, State of California,described as follows: LOT D AS SHOWN ON THE MAP OF "GRAY'S CROSSING - PHASE 3" FILED IN THE OFFICE OF THE COUNTY RECORDER OF THE COUNTY OF NEVADA, STATE OF CALIFORNIA ON MAY 10, 2007 IN BOOK 8 OF SUBDIVISIONS, PAGE 168 APN: 043-010-005-000 4916-7231-1596v1/022925-0021 Page 161 of 225 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 NOTICE OF SIGNIFICANT EVENT SEPTEMBER 1, 2025 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 162 of 225 W W I LLDAN LIST OF PARTICIPANTS TRUCKEE DONNER PUD. . . Michael Salmon Chief Financial Officer and Treasurer 11570 Donner Pass Road Truckee, California 96160 (530) 582-3959 DISTRICT ADMINISTRATION DISCLOSURE • DISSEMINATION Willdan Financial Services* Temecula, California 92590 (951) 587-3500 www.willdan.com UNDERWRITER 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 163 of 225 WP'W1 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 164 of 225 1WILLDAN A NOTICE OF SIGNIFICANT EVENT- UNSCHEDULED DRAW ON DEBT SERVICE RESERVES On September 1, 2025, a draw on the Reserve Fund for $171 ,894.00 was performed in order to pay the September 1, 2025 Debt Service Payment on the Bonds. The District had insufficient funds to make the full debt service payment of $2,051,210.00 on the Series 2004 and Series 2005 Bonds. The remaining amount in the Reserve Fund as of September 2, 2025 will be approximately $1,791,735.47. The unscheduled draw is due to a consistently high delinquency rate in the District. The overall delinquency rate is approximately 16.22%. TDPUD is working with a Foreclosure Attorney to cure the delinquencies. Presently, seven (7) 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 3, 2025. 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 165 of 225 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 166 of 225 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 167 of 225 Truckee Donner PUD Community Facilities District No. 04-1 (Gray's Crossing) Fiscal Year 2025/26 Annual District Administration Report 27368 Via Industria Suite 200 Temecula,CA 9259 T 951.587.3500 800.755.686 F 951.587.3510�888.326.686 Property Tax Information Line T.866.807.68 M. ww.willdan.com NA/W I L L DAN Page 168 of WP'WILLDAN ANNUAL DISTRICT ADMINISTRATION REPORT FISCAL ' 1 • TRUCKEE DONNER PUD COMMUNITY - No. 04-1 - • CROSSING) :i C3 O �a �°'gym i trx►�'��' repared . pared . 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. 866.807.68 0 Page 169 of Wf'WILLDAN 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 L LEVY SUMMARY OVERVIEW A. FISCAL YEAR 2025/26 LEVY AMOUNTS B. FISCAL YEAR 2025/26 HANDBILL AMOUNTS IL FINANCIAL OBLIGATIONS A. FISCAL YEAR 2025/26 LEVY COMPONENTS B. PREPAYMENTS C. HISTORICAL BOND CALL SUMMARY Ill. DELINQUENCY AND FORECLOSURE STATUS A. DELINQUENCY SUMMARY B. FORECLOSURE COVENANT C. DELINQUENCY MANAGEMENT ACTIONS IV. SPECIAL TAX LEVY AND METHOD OF APPORTIONMENT OF SPECIAL TAX 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 2025/26 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 170 of 225 lIV 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 2025 Page 171 of 225 lIV 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 2025/26 LEVY AMOUNTS The following table summarizes the amounts levied (including handbilled/direct billed charges) for Fiscal Year 2025/26 for the District. Parcel Count Charge Amount 425 $3,501,866.84 B. FISCAL YEAR 2025/26 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 2025/26 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 2025 Page 172 of 225 lIV W I LLDAN IL FINANCIAL OBLIGATIONS A. FISCAL YEAR 2025/26 LEVY COMPONENTS The following table summarizes the financial obligations of the District. Uses of Funds Amount 2004 Principal $685,000.00 2004 Interest 594.675.00 2005 Principal 840,000.00 2005 Interest 652,055.00 Administrative Costs 107,477.74 Adjustments Applied to the Levy— Addition/(Credit) 622,663.56 Total •e Amount Levied 1 1 (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 2024/25, there was zero (0) parcels that prepaid their special tax obligation. APN Prepayment Total N/A $0.00 Prepayment Total 00 (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 2025 Page 173 of 225 Wf'WILLDAN 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 August 29, 2025. Summary for Cumulative Summary for Most Recent Fiscal Year All Years with Delinquencies $880,813.83 25.66% $6,808, 16.21% 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 2025 Page 174 of 225 Wf'WILLDAN 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, 2024. Date Performed Number of Parcels SB1471 September 16, 2024 _ 9 Request Removal from County Tax Roll September 16, 2024 9 Strip Confirmation October 1, 2024 9 Foreclosure Complete October 1, 2024 9 Reminder Letter March 11, 2025 17 Pre-Foreclosure Letter August 26, 2025 4 SB1471 October 9, 2025 6 Request Removal from County Tax Roll October 9, 2025 6 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 Truckee Donner PUD Page 15 Community Facilities District No. 04-1 (Gray's Crossing) November 2025 Page 175 of 225 Wf'WILLDAN the Special Tax Requirement. (FOR DETAILED INFORMATION OF THE SPECIAL TAX REQUIREMENT, PLEASE REFER TO SECTION (ll) FINANCIAL OBLIGATIONS ABOVE). 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 2025 Page 176 of 225 Wf'WILLDAN 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. 2025/26 2025/26 Land Use Classification of Applied Special Dollars Parcels Tax Rate per Levied Tax Zone 1 Milk 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 $4,243.86 21,219.30 14,001-16,000 SF 40 $4,395.42 175,816.80 16,001-18,000 SF 29 $4,546.98 131,862.42 18,001-20,000 SF 14 $4,698.56 65,779.84 20,001-22,000 SF 3 $4,850.12 14,550.36 Greater than 22,000 3 $5,001.68 15,005.04 Special - 1 (1) 1 $8,942.42 8,942.42 Special - 2 (2) 1 $9,548.68 9,548.68 Zone 1 Total 96 $442,724.86 Tax Zone 2 Single Family Attached 41 $2,728.18 $120,039.98 Less than 8,000 SF 0 $0.00 0.00 8,000-12,000 SF 1 $5,115.36 5,115.36 12,001-14,000 SF 5 $5,304.82 26,524.10 14,001-16,000 SF 88 $5,494.28 483,496.64 16,001-18,000 SF 73 $5,683.74 414,913.02 18,001-20,000 SF 38 $5,873.20 223,181.60 20,001-22,000 SF 26 $6,062.66 157,629.16 Greater than 22,000 40 $6,252.12 250,084.80 Golf Course Property1 3 $2,216.21 151,566.60 Golf Course Property2 3 $735.44 151,566.60 Zone 2 Total 318 $1,984,117.86 Undeveloped Undevelo ed $26,524.16 1,075,024.12 Total1 : . . .84 (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 2025 Page 177 of 225 Wf'WILLDAN 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 Zone 1 Less than 8,000 SF $2,728.20 $0.00 0.00% 8,000-12,000 SF $4,092.30 $0.00 0.00% 12,001-14,000 SF $4,243.87 $4,243.86 100.00% 14,001-16,000 SF $4,395.43 $4,395.42 100.00% 16,001-18,000 SF $4,547.00 $4,546.98 100.00% 18,001-20,000 SF $4,698.57 $4,698.56 100.00% 20,001-22,000 SF $4,850.13 $4,850.12 100.00% Greater than 22,000 $5,001.70 $5,001.68 100.00% Special - 1 (2) $8,942.43 $8,942.42 100.00% Special - 2 (3) $9,548.70 $9,548.68 100.00% Tax Zone 2 Single Family Attached $2,728.20 $2,728.18 100.00% Less than 8,000 SF $2,728.20 $0.00 0.00% 8,000-12,000 SF $5,115.37 $5,115.36 100.00% 12,001-14,000 SF $5,304.83 $5,304.82 100.00% 14,001-16,000 SF $5,494.29 $5,494.28 100.00% 16,001-18,000 SF $5,683.75 $5,683.74 100.00% 18,001-20,000 SF $5,873.21 $5,873.20 100.00% 20,001-22,000 SF $6,062.67 $6,062.66 100.00% Greater than 22,000 $6,252.12 $6,252.12 100.00% Golf Course Property1 $2,216.21 $2,216.21 100.00% Golf Course Property2 $735.44 $735.44 100.00% Undeveloped Undeveloped $26,524.16 $26,524.16 100.00% (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 2025 Page 178 of 225 Wf'WILLDAN D. APPLIED SPECIAL TAX PROGRESSION The following table summarizes the percent change of Fiscal Year 2025/26 Applied Special Tax Rate as compared to Fiscal Year 2024/25 Applied Special Tax Rate. AppliedLand Use Applied Change from SpecialClassification Special Tax Rate Tax Rate Tax Zone 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 $4,243.86 $4,160.64 2.00% 14,001-16,000 SF $4,395.42 $4,309.24 2.00% 16,001-18,000 SF $4,546.98 $4,457.84 2.00% 18,001-20,000 SF $4,698.56 $4,606.42 2.00% 20,001-22,000 SF $4,850.12 $4,755.02 2.00% Greater than 22,000 $5,001.68 $4,903.62 2.00% Special - 1 (1) $8,942.42 $8,767.08 2.00% Special - 2 (2) $9,548.68 $9,361.46 2.00% Tax Zone 2 Single Family Attached $2,728.18 $2,674.70 2.00% Less than 8,000 SF $0.00 $0.00 N/A 8,000-12,000 SF $5,115.36 $5,015.06 2.00% 12,001-14,000 SF $5,304.82 $5,200.80 2.00% 14,001-16,000 SF $5,494.28 $5,386.54 2.00% 16,001-18,000 SF $5,683.74 $5,572.30 2.00% 18,001-20,000 SF $5,873.20 $5,758.04 2.00% 20,001-22,000 SF $6,062.66 $5,943.78 2.00% Greater than 22,000 $6,252.12 $6,129.52 2.00% Golf Course Property1 $2,216.21 $2,172.76 2.00% Golf Course Property2 $735.44 $721.02 2.00% Undeveloped Undeveloped Mb...j $26,524.16 Mi $26,004.08 2.00% (1)The Special-1 Land Use Classification consists oft 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 2025 Page 179 of 225 Wf'WILLDAN EXHIBIT A TRUCKEE DONNER PUD COMMUNITY FACILITIES DISTRICT NO. 04-1 (GRAYS CROSSING Fiscal Year 2025126 Charge Detail Report Page 180 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 019-370-041-000 NO SITUS AVAILABLE $165,094.00 $43,503.00 $208,597.00 2 GC2 $45,714.89 $45,714.88 019-770-002-000 11163 CHINA CAMP RD 683,527.00 0.00 683,527.00 2 Undeveloped 391,496.62 391,496.60 019-770-003-000 11054 CHINA CAMP RD 368,362.00 2,185,000.00 2,553,362.00 1 "16,001-18,000" 4,547.00 4,546.98 019-770-004-000 11072 CHINA CAMP RD 357,000.00 2,244,000.00 2,601,000.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-005-000 11092 CHINA CAMP RD 306,766.00 920,301.00 1,227,067.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-006-000 11106 CHINA CAMP RD 194,837.00 0.00 194,837.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-007-000 11122 CHINA CAMP RD 130,848.00 1,257,299.00 1,388,147.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-008-000 11140 CHINA CAMP RD 108,161.00 1,285,975.00 1,394,136.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-009-000 11160 CHINA CAMP RD 243,546.00 0.00 243,546.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-010-000 11184 CHINA CAMP RD 109,363.00 869,446.00 978,809.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-011-000 11208 CHINA CAMP RD 130,848.00 1,194,718.00 1,325,566.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-012-000 11226 CHINA CAMP RD 243,546.00 1,537,053.00 1,780,599.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-013-000 11242 CHINA CAMP RD 189,425.00 0.00 189,425.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-014-000 11229 CHINA CAMP RD 162,364.00 1,990,374.00 2,152,738.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-015-000 11209 CHINA CAMP RD 306,000.00 1,392,300.00 1,698,300.00 1 "14,001-16,000" 4,395.43 4,395.42 019-770-016-000 11125 CHINA CAMP RD 31,394.00 0.00 31,394.00 1 "12,001-14,000" 4,243.87 4,243.86 019-770-017-000 11101 CHINA CAMP RD 151,540.00 0.00 151,540.00 1 "12,001-14,000" 4,243.87 4,243.86 019-770-018-000 11083 CHINA CAMP RD 250,000.00 0.00 250,000.00 1 "12,001-14,000" 4,243.87 4,243.86 019-780-001-000 11258 CHINA CAMP RD 450,000.00 1,650,000.00 2,100,000.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-002-000 11274 CHINA CAMP RD 35,090.00 0.00 35,090.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-003-000 11290 CHINA CAMP RD 238,134.00 1,488,344.00 1,726,478.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-004-000 11306 CHINA CAMP RD 270,608.00 0.00 270,608.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-005-000 11312 CHINA CAMP RD 288,864.00 1,468,800.00 1,757,664.00 1 "20,001-22,000" 4,850.13 4,850.12 019-780-006-000 11636 COBURN DR 434,789.00 1,000,000.00 1,434,789.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-007-000 10701 LABELLE CT 136,537.00 1,109,381.00 1,245,918.00 1 "Greater than 22,000" 5,001.70 5,001.68 019-780-008-000 10751 LABELLE CT 122,883.00 0.00 122,883.00 1 "18,001-20,000" 4,698.57 4,698.56 019-780-009-000 10769 LABELLE CT 275,000.00 2,837,000.00 3,112,000.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-010-000 10789 LABELLE CT 137,513.00 1,537,482.00 1,674,995.00 1 "18,001-20,000" 4,698.57 4,698.56 019-780-011-000 10801 LABELLE CT 113,991.00 0.00 113,991.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-012-000 10811 LABELLE CT 93,881.00 1,030,200.00 1,124,081.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-014-000 10800 LABELLE CT 450,000.00 2,045,000.00 2,495,000.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-015-000 10788 LABELLE CT 239,700.00 1,232,058.00 1,471,758.00 1 "18,001-20,000" 4,698.57 4,698.56 019-780-016-000 10768 LABELLE CT 136,703.00 1,503,761.00 1,640,464.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-017-000 10750 LABELLE CT 100,620.00 0.00 100,620.00 1 "18,001-20,000" 4,698.57 4,698.56 019-780-018-000 11756 COBURN DR 108,268.00 0.00 108,268.00 1 "18,001-20,000" 4,698.57 4,698.56 019-780-019-000 11631 COBURN DR 260,100.00 0.00 260,100.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-020-000 11352 CHINA CAMP RD 312,120.00 2,586,434.00 2,898,554.00 1 "18,001-20,000" 4,698.57 4,698.56 019-780-021-000 11400 CHINA CAMP RD 142,226.00 1,226,612.00 1,368,838.00 1 "16,001-18,000" 4,547.00 4,546.98 019-780-022-000 11417 CHINA CAMP RD 123,937.00 0.00 123,937.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-023-000 11397 CHINA CAMP RD 167,776.00 1,255,621.00 1,423,397.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-024-000 11383 CHINA CAMP RD 118,837.00 346,800.00 465,637.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-025-000 11365 CHINA CAMP RD 249,900.00 1,249,500.00 1,499,400.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-026-000 11349 CHINA CAMP RD 125,158.00 0.00 125,158.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-027-000 11333 CHINA CAMP RD 38,430.00 980,096.00 1,018,526.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-028-000 11315 CHINA CAMP RD 67,285.00 1,000,037.00 1,067,322.00 1 "14,001-16,000" 4,395.43 4,395.42 019-780-029-000 11301 CHINA CAMP RD 174,930.00 0.00 174,930.00 1 "16,001-18,000" 4,547.00 4,546.98 Willdan Financial Services Page 1 of 10 Page 181 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 019-790-002-000 11569 CHINA CAMP RD 27,626.00 0.00 27,626.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-003-000 11555 CHINA CAMP RD 35,165.00 0.00 35,165.00 1 "16,001-18,000" 4,547.00 4,546.98 019-790-004-000 11539 CHINA CAMP RD 56,460.00 1,188,552.00 1,245,012.00 1 "16,001-18,000" 4,547.00 4,546.98 019-790-005-000 11523 CHINA CAMP RD 27,701.00 0.00 27,701.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-006-000 11509 CHINA CAMP RD 189,425.00 1,541,382.00 1,730,807.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-007-000 11493 CHINA CAMP RD 167,776.00 0.00 167,776.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-008-000 11471 CHINA CAMP RD 113,400.00 0.00 113,400.00 1 "20,001-22,000" 4,850.13 4,850.12 019-790-009-000 11464 CHINA CAMP RD 35,868.00 0.00 35,868.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-010-000 11478 CHINA CAMP RD 164,045.00 1,164,731.00 1,328,776.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-011-000 11516 CHINA CAMP RD 121,858.00 1,764,087.00 1,885,945.00 1 "18,001-20,000" 4,698.57 4,698.56 019-790-012-000 11574 CHINA CAMP RD 120,600.00 0.00 120,600.00 1 "18,001-20,000" 4,698.57 4,698.56 019-790-013-000 11608 CHINA CAMP RD 109,363.00 1,339,713.00 1,449,076.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-014-000 11628 CHINA CAMP RD 122,704.00 1,365,393.00 1,488,097.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-015-000 11644 CHINA CAMP RD 399,840.00 1,814,580.00 2,214,420.00 1 "16,001-18,000" 4,547.00 4,546.98 019-790-016-000 11759 COBURN DR 416,160.00 0.00 416,160.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-017-000 11729 COBURN DR 106,300.00 0.00 106,300.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-018-000 11711 COBURN DR 220,564.00 2,080,800.00 2,301,364.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-019-000 11671 COBURN DR 106,300.00 0.00 106,300.00 1 "Greater than 22,000" 5,001.70 5,001.68 019-790-020-000 11422 CHINA CAMP RD 35,868.00 0.00 35,868.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-021-000 11436 CHINA CAMP RD 128,808.00 0.00 128,808.00 1 "14,001-16,000" 4,395.43 4,395.42 019-790-022-000 10576 BRICKELL CT 111,864.00 0.00 111,864.00 1 "18,001-20,000" 4,698.57 4,698.56 019-790-023-000 10573 BRICKELL CT 265,200.00 0.00 265,200.00 1 "18,001-20,000" 4,698.57 4,698.56 019-790-024-000 10567 BRICKELL CT 249,288.00 0.00 249,288.00 1 "16,001-18,000" 4,547.00 4,546.98 019-790-025-000 10551 BRICKELL CT 27,626.00 0.00 27,626.00 1 "16,001-18,000" 4,547.00 4,546.98 019-790-026-000 10541 BRICKELL CT 199,291.00 1,683,000.00 1,882,291.00 1 "12,001-14,000" 4,243.87 4,243.86 019-790-027-000 10529 BRICKELL CT 125,158.00 1,150,841.00 1,275,999.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-001-000 11762 COBURN DR 279,000.00 0.00 279,000.00 1 "18,001-20,000" 4,698.57 4,698.56 019-800-002-000 11728 CHINA CAMP RD 362,120.00 2,150,000.00 2,512,120.00 1 "14,001-16,000" 4,395.43 4,395.42 019-800-003-000 11746 CHINA CAMP RD 38,430.00 922,442.00 960,872.00 1 "14,001-16,000" 4,395.43 4,395.42 019-800-004-000 11768 CHINA CAMP RD 150,874.00 1,520,365.00 1,671,239.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-005-000 11776 CHINA CAMP RD 88,781.00 0.00 88,781.00 1 "12,001-14,000" 4,243.87 4,243.86 019-800-008-000 11759 CHINA CAMP RD 482,315.00 1,050,809.00 1,533,124.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-009-000 11737 CHINA CAMP RD 115,796.00 841,290.00 957,086.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-010-000 11719 CHINA CAMP RD 108,091.00 0.00 108,091.00 1 "14,001-16,000" 4,395.43 4,395.42 019-800-011-000 11699 CHINA CAMP RD 234,949.00 1,534,590.00 1,769,539.00 1 "14,001-16,000" 4,395.43 4,395.42 019-800-012-000 11820 COBURN DR 60,509.00 612,000.00 672,509.00 1 "20,001-22,000" 4,850.13 4,850.12 019-800-015-000 11874 COBURN DR 297,668.00 1,482,931.00 1,780,599.00 1 "18,001-20,000" 4,698.57 4,698.56 019-800-016-000 11900 COBURN DR 89,675.00 991,294.00 1,080,969.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-017-000 11910 COBURN DR 244,800.00 2,888,640.00 3,133,440.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-020-000 11893 COBURN DR 145,360.00 2,074,661.00 2,220,021.00 1 "18,001-20,000" 4,698.57 4,698.56 019-800-021-000 11881 COBURN DR 383,907.00 0.00 383,907.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-022-000 11863 COBURN DR 364,140.00 1,716,660.00 2,080,800.00 1 "14,001-16,000" 4,395.43 4,395.42 019-800-023-000 11851 COBURN DR 78,018.00 1,552,976.00 1,630,994.00 1 "14,001-16,000" 4,395.43 4,395.42 019-800-024-000 11835 COBURN DR 137,731.00 2,165,000.00 2,302,731.00 1 "14,001-16,000" 4,395.43 4,395.42 019-800-025-000 11657 CHINA CAMP RD 331,500.00 0.00 331,500.00 1 "18,001-20,000" 4,698.57 4,698.56 019-800-026-000 11631 CHINA CAMP RD 91,023.00 0.00 91,023.00 1 "16,001-18,000" 4,547.00 4,546.98 Willdan Financial Services Page 2 of 10 Page 182 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 019-800-027-000 11607 CHINA CAMP RD 56,727.00 295,800.00 352,527.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-028-000 11585 CHINA CAMP RD 293,760.00 2,301,120.00 2,594,880.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-029-000 11660 CHINA CAMP RD 125,407.00 1,628,655.00 1,754,062.00 1 "16,001-18,000" 4,547.00 4,546.98 019-800-030-000 11777 CHINA CAMP RD 320,190.00 1,407,161.00 1,727,351.00 1 "Greater than 22,000" 5,001.70 5,001.68 019-800-031-000 11830 COBURN DR 427,289.00 3,329,280.00 3,756,569.00 1 Speciall 8,942.43 8,942.42 019-800-032-000 11919 COBURN DR 298,208.00 1,762,494.00 2,060,702.00 1 Specia12 9,548.70 9,548.68 019-840-001-000 11710 BOTTCHER LP 73,545.00 0.00 73,545.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-002-000 11690 BOTTCHER LP 275,000.00 0.00 275,000.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-003-000 11670 BOTTCHER LP 235,008.00 0.00 235,008.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-004-000 11685 KELLEY DR 449,820.00 2,149,140.00 2,598,960.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-005-000 11695 KELLEY DR 153,000.00 2,091,000.00 2,244,000.00 2 "12,001-14,000" 5,304.83 5,304.82 019-840-006-000 11705 KELLEY DR 61,950.00 0.00 61,950.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-007-000 11715 KELLEY DR 111,550.00 1,450,172.00 1,561,722.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-008-000 11735 KELLEY DR 207,826.00 0.00 207,826.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-009-000 11784 KELLEY DR 116,056.00 1,212,810.00 1,328,866.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-010-000 11764 KELLEY DR 162,364.00 1,915,904.00 2,078,268.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-011-000 11744 KELLEY DR 270,608.00 2,056,620.00 2,327,228.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-012-000 11724 KELLEY DR 100,620.00 0.00 100,620.00 2 "18,001-20,000" 5,873.21 5,873.20 019-840-013-000 11704 KELLEY DR 357,000.00 2,754,000.00 3,111,000.00 2 "18,001-20,000" 5,873.21 5,873.20 019-840-014-000 11684 KELLEY DR 270,608.00 1,623,648.00 1,894,256.00 2 "18,001-20,000" 5,873.21 5,873.20 019-840-015-000 11664 KELLEY DR 238,134.00 1,320,566.00 1,558,700.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-016-000 11650 BOTTCHER LP 178,600.00 0.00 178,600.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-017-000 11630 BOTTCHER LP 447,170.00 795,000.00 1,242,170.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-018-000 11610 BOTTCHER LP 274,890.00 1,399,440.00 1,674,330.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-019-000 11590 BOTTCHER LP 303,552.00 1,566,720.00 1,870,272.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-020-000 11570 BOTTCHER LP 132,199.00 0.00 132,199.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-021-000 11550 BOTTCHER LP 270,608.00 1,758,952.00 2,029,560.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-022-000 11530 BOTTCHER LP 270,608.00 1,220,982.00 1,491,590.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-023-000 11521 BOTTCHER LP 189,425.00 1,623,648.00 1,813,073.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-024-000 11541 BOTTCHER LP 77,441.00 1,449,464.00 1,526,905.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-025-000 11561 BOTTCHER LP 342,720.00 0.00 342,720.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-026-000 11581 BOTTCHER LP 153,109.00 0.00 153,109.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-027-000 11621 BOTTCHER LP 162,480.00 1,549,380.00 1,711,860.00 2 "16,001-18,000" 5,683.75 5,683.74 019-840-028-000 11641 BOTTCHER LP 309,672.00 0.00 309,672.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-029-000 11651 BOTTCHER LP 319,056.00 0.00 319,056.00 2 "14,001-16,000" 5,494.29 5,494.28 019-840-030-000 11675 KELLEY DR 51,240.00 1,153,054.00 1,204,294.00 2 "18,001-20,000" 5,873.21 5,873.20 019-850-002-000 11411 GHIRARD RD 380,052.00 0.00 380,052.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-003-000 11431 GHIRARD RD 375,360.00 2,158,320.00 2,533,680.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-004-000 11451 GHIRARD RD 299,880.00 2,069,172.00 2,369,052.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-005-000 11471 GHIRARD RD 300,751.00 1,552,976.00 1,853,727.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-006-000 11491 GHIRARD RD 487,093.00 1,666,945.00 2,154,038.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-007-000 11511 GHIRARD RD 179,889.00 1,414,660.00 1,594,549.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-008-000 11510 BOTTCHER LP 56,518.00 881,390.00 937,908.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-009-000 11490 BOTTCHER LP 324,870.00 2,099,160.00 2,424,030.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-010-000 11470 BOTTCHER LP 188,760.00 1,235,817.00 1,424,577.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-011-000 11450 BOTTCHER LP 170,671.00 1,490,553.00 1,661,224.00 2 "14,001-16,000" 5,494.29 5,494.28 Willdan Financial Services Page 3 of 10 Page 183 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 019-850-012-000 11430 BOTTCHER LP 398,000.00 0.00 398,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-013-000 11410 BOTTCHER LP 165,031.00 1,402,941.00 1,567,972.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-014-000 11481 BOTTCHER LP 287,640.00 2,588,760.00 2,876,400.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-015-000 11501 BOTTCHER LP 304,980.00 0.00 304,980.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-016-000 11624 KELLEY DR 171,023.00 0.00 171,023.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-017-000 11604 KELLEY DR 167,776.00 0.00 167,776.00 2 "20,001-22,000" 6,062.67 6,062.66 019-850-018-000 11584 KELLEY DR 482,543.00 1,180,000.00 1,662,543.00 2 "16,001-18,000" 5,683.75 5,683.74 019-850-019-000 11564 KELLEY DR 290,000.00 0.00 290,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-020-000 11544 KELLEY DR 151,540.00 1,190,674.00 1,342,214.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-021-000 11524 KELLEY DR 81,181.00 1,802,249.00 1,883,430.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-022-000 11520 GHIRARD RD 285,600.00 2,040,000.00 2,325,600.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-023-000 11500 GHIRARD RD 350,000.00 0.00 350,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-024-000 11480 GHIRARD RD 182,050.00 1,211,786.00 1,393,836.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-025-000 11460 GHIRARD RD 408,000.00 2,193,000.00 2,601,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-026-000 11440 GHIRARD RD 433,500.00 2,590,800.00 3,024,300.00 2 "14,001-16,000" 5,494.29 5,494.28 019-850-027-000 11420 GHIRARD RD 136,703.00 0.00 136,703.00 2 "16,001-18,000" 5,683.75 5,683.74 019-860-002-000 11191 GHIRARD RD 357,000.00 2,641,800.00 2,998,800.00 2 "18,001-20,000" 5,873.21 5,873.20 019-860-003-000 11261 GHIRARD RD 294,882.00 2,907,000.00 3,201,882.00 2 "20,001-22,000" 6,062.67 6,062.66 019-860-004-000 11251 GHIRARD RD 432,972.00 2,109,658.00 2,542,630.00 2 "18,001-20,000" 5,873.21 5,873.20 019-860-005-000 11291 GHIRARD RD 514,154.00 1,814,155.00 2,328,309.00 2 "18,001-20,000" 5,873.21 5,873.20 019-860-006-000 11311 GHIRARD RD 391,680.00 3,030,624.00 3,422,304.00 2 "18,001-20,000" 5,873.21 5,873.20 019-860-007-000 11331 GHIRARD RD 317,920.00 1,483,638.00 1,801,558.00 2 "16,001-18,000" 5,683.75 5,683.74 019-860-008-000 11371 GHIRARD RD 561,000.00 2,779,500.00 3,340,500.00 2 "18,001-20,000" 5,873.21 5,873.20 019-860-009-000 11391 GHIRARD RD 499,800.00 2,499,000.00 2,998,800.00 2 "18,001-20,000" 5,873.21 5,873.20 019-860-010-000 11400 GHIRARD RD 261,073.00 2,175,000.00 2,436,073.00 2 "14,001-16,000" 5,494.29 5,494.28 019-860-011-000 11380 GHIRARD RD 408,000.00 1,795,200.00 2,203,200.00 2 "14,001-16,000" 5,494.29 5,494.28 019-860-012-000 11360 GHIRARD RD 375,000.00 0.00 375,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-860-013-000 11340 GHIRARD RD 399,840.00 2,998,800.00 3,398,640.00 2 "14,001-16,000" 5,494.29 5,494.28 019-860-014-000 11320 GHIRARD RD 189,425.00 1,823,897.00 2,013,322.00 2 "14,001-16,000" 5,494.29 5,494.28 019-860-015-000 11300 GHIRARD RD 142,171.00 1,667,808.00 1,809,979.00 2 "14,001-16,000" 5,494.29 5,494.28 019-860-016-000 11280 GHIRARD RD 85,602.00 853,307.00 938,909.00 2 "14,001-16,000" 5,494.29 5,494.28 019-860-017-000 11260 GHIRARD RD 281,520.00 1,876,800.00 2,158,320.00 2 "16,001-18,000" 5,683.75 5,683.74 019-860-018-000 11240 GHIRARD RD 146,978.00 1,235,817.00 1,382,795.00 2 "16,001-18,000" 5,683.75 5,683.74 019-860-019-000 11220 GHIRARD RD 130,848.00 0.00 130,848.00 2 "16,001-18,000" 5,683.75 5,683.74 019-860-020-000 11200 GHIRARD RD 163,100.00 0.00 163,100.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-002-000 11531 GHIRARD RD 391,680.00 2,501,856.00 2,893,536.00 2 "18,001-20,000" 5,873.21 5,873.20 019-870-003-000 11551 GHIRARD RD 273,076.00 1,632,783.00 1,905,859.00 2 "18,001-20,000" 5,873.21 5,873.20 019-870-004-000 11571 GHIRARD RD 220,507.00 1,357,884.00 1,578,391.00 2 "20,001-22,000" 6,062.67 6,062.66 019-870-005-000 11611 GHIRARD RD 510,000.00 3,243,600.00 3,753,600.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-870-006-000 11631 GHIRARD RD 357,000.00 1,887,000.00 2,244,000.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-870-007-000 11651 GHIRARD RD 450,000.00 1,880,000.00 2,330,000.00 2 "20,001-22,000" 6,062.67 6,062.66 019-870-008-000 11890 BOTTCHER LP 35,165.00 0.00 35,165.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-009-000 11870 BOTTCHER LP 306,000.00 0.00 306,000.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-010-000 11850 BOTTCHER LP 268,464.00 0.00 268,464.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-011-000 11830 BOTTCHER LP 468,180.00 1,643,832.00 2,112,012.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-012-000 11810 BOTTCHER LP 58,159.00 0.00 58,159.00 2 "14,001-16,000" 5,494.29 5,494.28 Willdan Financial Services Page 4 of 10 Page 184 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 019-870-013-000 11790 BOTTCHER LP 231,638.00 0.00 231,638.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-014-000 11770 BOTTCHER LP 162,364.00 1,082,432.00 1,244,796.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-015-000 11750 BOTTCHER LP 42,272.00 0.00 42,272.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-016-000 11730 BOTTCHER LP 64,533.00 968,112.00 1,032,645.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-017-000 11721 BOTTCHER LP 77,441.00 1,050,351.00 1,127,792.00 2 "20,001-22,000" 6,062.67 6,062.66 019-870-018-000 11741 BOTTCHER LP 39,558.00 0.00 39,558.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-019-000 11761 BOTTCHER LP 332,032.00 2,620,000.00 2,952,032.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-020-000 11781 BOTTCHER LP 151,727.00 1,206,910.00 1,358,637.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-021-000 11801 BOTTCHER LP 290,000.00 0.00 290,000.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-022-000 11821 BOTTCHER LP 148,179.00 1,718,931.00 1,867,110.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-023-000 11841 BOTTCHER LP 292,434.00 0.00 292,434.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-024-000 11861 BOTTCHER LP 468,180.00 2,418,930.00 2,887,110.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-025-000 11891 BOTTCHER LP 145,015.00 1,360,929.00 1,505,944.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-026-000 11680 GHIRARD RD 357,000.00 1,938,000.00 2,295,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-027-000 11660 GHIRARD RD 183,846.00 1,098,003.00 1,281,849.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-028-000 11640 GHIRARD RD 211,189.00 2,260,373.00 2,471,562.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-029-000 11620 GHIRARD RD 336,844.00 2,738,700.00 3,075,544.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-030-000 11600 GHIRARD RD 179,280.00 2,300,168.00 2,479,448.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-031-000 11580 GHIRARD RD 321,300.00 0.00 321,300.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-032-000 11560 GHIRARD RD 273,408.00 1,580,317.00 1,853,725.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-033-000 11540 GHIRARD RD 184,057.00 1,600,767.00 1,784,824.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-034-000 11555 KELLEY DR 204,578.00 0.00 204,578.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-035-000 11575 KELLEY DR 306,000.00 0.00 306,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-870-036-000 11595 KELLEY DR 357,000.00 1,683,000.00 2,040,000.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-037-000 11615 KELLEY DR 79,676.00 1,072,624.00 1,152,300.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-038-000 11635 KELLEY DR 424,483.00 0.00 424,483.00 2 "16,001-18,000" 5,683.75 5,683.74 019-870-039-000 11655 KELLEY DR 225,351.00 0.00 225,351.00 2 "14,001-16,000" 5,494.29 5,494.28 019-880-001-000 11082 MEEK CT 1,080,808.00 1,183,037.00 2,263,845.00 2 "20,001-22,000" 6,062.67 6,062.66 019-880-002-000 11102 MEEK CT 137,432.00 757,161.00 894,593.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-880-003-000 11122 MEEK CT 167,707.00 1,225,229.00 1,392,936.00 2 "18,001-20,000" 5,873.21 5,873.20 019-880-004-000 11142 MEEK CT 116,450.00 832,968.00 949,418.00 2 "20,001-22,000" 6,062.67 6,062.66 019-880-005-000 11139 MEEK CT 80,250.00 1,541,755.00 1,622,005.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-880-006-000 11133 MEEK CT 262,200.00 0.00 262,200.00 2 "18,001-20,000" 5,873.21 5,873.20 019-880-007-000 11113 MEEK CT 184,057.00 1,878,881.00 2,062,938.00 2 "16,001-18,000" 5,683.75 5,683.74 019-880-008-000 10989 GHIRARD RD 459,000.00 2,040,000.00 2,499,000.00 2 "16,001-18,000" 5,683.75 5,683.74 019-880-009-000 11011 GHIRARD RD 300,751.00 1,443,611.00 1,744,362.00 2 "16,001-18,000" 5,683.75 5,683.74 019-880-010-000 11031 GHIRARD RD 273,076.00 1,482,916.00 1,755,992.00 2 "16,001-18,000" 5,683.75 5,683.74 019-880-011-000 11051 GHIRARD RD 357,000.00 0.00 357,000.00 2 "14,001-16,000" 5,494.29 5,494.28 019-880-012-000 11000 GHIRARD RD 162,833.00 1,082,051.00 1,244,884.00 2 "14,001-16,000" 5,494.29 5,494.28 019-880-013-000 11020 GHIRARD RD 144,985.00 910,000.00 1,054,985.00 2 "18,001-20,000" 5,873.21 5,873.20 019-880-014-000 11040 GHIRARD RD 297,668.00 1,975,438.00 2,273,106.00 2 "18,001-20,000" 5,873.21 5,873.20 019-880-015-000 11060 GHIRARD RD 77,317.00 0.00 77,317.00 2 "20,001-22,000" 6,062.67 6,062.66 019-880-016-000 11080 GHIRARD RD 369,000.00 0.00 369,000.00 2 "16,001-18,000" 5,683.75 5,683.74 019-880-017-000 11100 GHIRARD RD 500,000.00 2,625,000.00 3,125,000.00 2 "16,001-18,000" 5,683.75 5,683.74 019-880-018-000 11120 GHIRARD RD 442,170.00 0.00 442,170.00 2 "18,001-20,000" 5,873.21 5,873.20 019-890-002-000 11691 GHIRARD RD 89,544.00 1,052,490.00 1,142,034.00 2 "16,001-18,000" 5,683.75 5,683.74 Willdan Financial Services Page 5 of 10 Page 185 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 019-890-003-000 11711 GHIRARD RD 290,154.00 1,976,760.00 2,266,914.00 2 "16,001-18,000" 5,683.75 5,683.74 019-890-004-000 11731 GHIRARD RD 440,640.00 0.00 440,640.00 2 "16,001-18,000" 5,683.75 5,683.74 019-890-005-000 11751 GHIRARD RD 357,000.00 1,938,000.00 2,295,000.00 2 "18,001-20,000" 5,873.21 5,873.20 019-890-006-000 11771 GHIRARD RD 216,485.00 0.00 216,485.00 2 "16,001-18,000" 5,683.75 5,683.74 019-890-007-000 11791 GHIRARD RD 293,760.00 2,130,474.00 2,424,234.00 2 "16,001-18,000" 5,683.75 5,683.74 019-890-008-000 11831 GHIRARD RD 280,170.00 2,699,838.00 2,980,008.00 2 "20,001-22,000" 6,062.67 6,062.66 019-890-009-000 11840 GHIRARD RD 127,661.00 1,231,115.00 1,358,776.00 2 "16,001-18,000" 5,683.75 5,683.74 019-890-010-000 11820 GHIRARD RD 343,740.00 0.00 343,740.00 2 "16,001-18,000" 5,683.75 5,683.74 019-890-011-000 11800 GHIRARD RD 127,680.00 1,731,890.00 1,859,570.00 2 "14,001-16,000" 5,494.29 5,494.28 019-890-012-000 11780 GHIRARD RD 107,800.00 0.00 107,800.00 2 "14,001-16,000" 5,494.29 5,494.28 019-890-013-000 11760 GHIRARD RD 408,000.00 2,284,800.00 2,692,800.00 2 "14,001-16,000" 5,494.29 5,494.28 019-890-014-000 11950 BOTTCHER LP 81,939.00 1,321,017.00 1,402,956.00 2 "18,001-20,000" 5,873.21 5,873.20 019-890-015-000 11930 BOTTCHER LP 110,948.00 0.00 110,948.00 2 "14,001-16,000" 5,494.29 5,494.28 019-890-016-000 11910 BOTTCHER LP 486,835.00 1,292,908.00 1,779,743.00 2 "14,001-16,000" 5,494.29 5,494.28 019-890-017-000 11720 GHIRARD RD 279,811.00 435,000.00 714,811.00 2 "16,001-18,000" 5,683.75 5,683.74 019-890-018-000 11700 GHIRARD RD 449,820.00 2,014,194.00 2,464,014.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-002-000 11021 HENNESS RD 142,171.00 1,131,921.00 1,274,092.00 2 "18,001-20,000" 5,873.21 5,873.20 019-900-003-000 11041 HENNESS RD 141,700.00 0.00 141,700.00 2 "16,001-18,000" 5,683.75 5,683.74 019-900-004-000 11061 HENNESS RD 275,914.00 2,695,468.00 2,971,382.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-005-000 11081 HENNESS RD 139,267.00 1,502,956.00 1,642,223.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-006-000 11111 HENNESS RD 240,298.00 0.00 240,298.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-007-000 11121 HENNESS RD 388,717.00 2,208,300.00 2,597,017.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-008-000 11141 HENNESS RD 37,676.00 0.00 37,676.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-009-000 11149 HENNESS RD 270,608.00 1,948,377.00 2,218,985.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-010-000 11150 HENNESS RD 191,967.00 2,687,700.00 2,879,667.00 2 "16,001-18,000" 5,683.75 5,683.74 019-900-011-000 11130 HENNESS RD 335,580.00 2,593,554.00 2,929,134.00 2 "16,001-18,000" 5,683.75 5,683.74 019-900-012-000 11110 HENNESS RD 167,923.00 2,998,336.00 3,166,259.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-900-013-000 11002 MEEK CT 363,902.00 2,448,000.00 2,811,902.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-900-014-000 11022 MEEK CT 160,079.00 1,071,337.00 1,231,416.00 2 "18,001-20,000" 5,873.21 5,873.20 019-900-017-000 11093 MEEK CT 611,297.00 1,528,347.00 2,139,644.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-018-000 11073 MEEK CT 182,050.00 1,479,176.00 1,661,226.00 2 "14,001-16,000" 5,494.29 5,494.28 019-900-019-000 11053 MEEK CT 163,100.00 0.00 163,100.00 2 "20,001-22,000" 6,062.67 6,062.66 019-900-020-000 11033 MEEK CT 156,171.00 1,405,551.00 1,561,722.00 2 "20,001-22,000" 6,062.67 6,062.66 019-900-021-000 11090 HENNESS RD 189,425.00 1,093,256.00 1,282,681.00 2 "16,001-18,000" 5,683.75 5,683.74 019-900-022-000 11070 HENNESS RD 487,093.00 2,164,864.00 2,651,957.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-900-023-000 11042 HENNESS RD 244,631.00 1,519,000.00 1,763,631.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-900-024-000 11036 HENNESS RD 246,068.00 1,547,508.00 1,793,576.00 2 "20,001-22,000" 6,062.67 6,062.66 019-900-025-000 11030 HENNESS RD 166,663.00 2,186,512.00 2,353,175.00 2 "18,001-20,000" 5,873.21 5,873.20 019-900-026-000 11010 HENNESS RD 49,029.00 0.00 49,029.00 2 "16,001-18,000" 5,683.75 5,683.74 019-900-027-000 11052 MEEK CT 242,388.00 1,503,419.00 1,745,807.00 2 "Greater than 22,000" 6,252.12 6,252.12 019-910-001-000 11159 HENNESS RD 357,000.00 2,728,500.00 3,085,500.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-002-000 11169 HENNESS RD 441,048.00 1,789,590.00 2,230,638.00 2 "20,001-22,000" 6,062.67 6,062.66 019-910-003-000 11199 HENNESS RD 334,000.00 0.00 334,000.00 2 "18,001-20,000" 5,873.21 5,873.20 019-910-004-000 11219 HENNESS RD 88,781.00 0.00 88,781.00 2 "12,001-14,000" 5,304.83 5,304.82 019-910-005-000 11239 HENNESS RD 156,171.00 1,584,035.00 1,740,206.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-006-000 11259 HENNESS RD 118,377.00 956,505.00 1,074,882.00 2 "14,001-16,000" 5,494.29 5,494.28 Willdan Financial Services Page 6 of 10 Page 186 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 019-910-007-000 11330 HENNESS RD 199,129.00 2,881,179.00 3,080,308.00 2 "18,001-20,000" 5,873.21 5,873.20 019-910-008-000 11310 HENNESS RD 77,441.00 1,471,535.00 1,548,976.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-009-000 11290 HENNESS RD 240,600.00 1,432,673.00 1,673,273.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-010-000 11270 HENNESS RD 349,860.00 1,949,220.00 2,299,080.00 2 "12,001-14,000" 5,304.83 5,304.82 019-910-011-000 11250 HENNESS RD 351,789.00 1,596,586.00 1,948,375.00 2 "12,001-14,000" 5,304.83 5,304.82 019-910-012-000 11230 HENNESS RD 572,220.00 2,653,020.00 3,225,240.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-013-000 11210 HENNESS RD 129,153.00 772,286.00 901,439.00 2 "12,001-14,000" 5,304.83 5,304.82 019-910-014-000 11190 HENNESS RD 757,328.00 1,623,648.00 2,380,976.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-015-000 11170 HENNESS RD 191,386.00 1,438,141.00 1,629,527.00 2 "18,001-20,000" 5,873.21 5,873.20 019-910-016-000 11851 GHIRARD RD 345,104.00 2,737,916.00 3,083,020.00 2 "18,001-20,000" 5,873.21 5,873.20 019-910-017-000 11871 GHIRARD RD 313,268.00 2,546,899.00 2,860,167.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-018-000 11881 GHIRARD RD 49,250.00 0.00 49,250.00 2 "16,001-18,000" 5,683.75 5,683.74 019-910-019-000 11890 GHIRARD RD 51,714.00 0.00 51,714.00 2 "20,001-22,000" 6,062.67 6,062.66 019-910-020-000 11880 GHIRARD RD 135,800.00 1,194,900.00 1,330,700.00 2 "14,001-16,000" 5,494.29 5,494.28 019-910-021-000 11860 GHIRARD RD 39,401.00 0.00 39,401.00 2 "14,001-16,000" 5,494.29 5,494.28 043-010-002-000 NO SITUS AVAILABLE 167,325.00 0.00 167,325.00 2 GC2 31,550.34 31,550.32 043-010-003-000 NO SITUS AVAILABLE 263,259.00 40,156.00 303,415.00 2 GC2 74,301.41 74,301.40 043-010-004-000 10874 HENNESS RD 17,846.00 99,279.00 117,125.00 2 GC1 6,471.33 6,471.32 043-010-005-000 NO SITUS AVAILABLE 524,948.00 0.00 524,948.00 2 Undeveloped 181,955.74 181,955.74 043-010-006-000 NO SITUS AVAILABLE 228,679.00 0.00 228,679.00 2 GC1 130,357.50 130,357.50 043-010-007-000 NO SITUS AVAILABLE 546,820.00 0.00 546,820.00 2 Undeveloped 312,189.38 312,189.36 043-010-008-000 11410 HENNESS RD 179,596.00 1,695,586.00 1,875,182.00 2 GC1 14,737.80 14,737.78 043-020-003-000 10980 GHIRARD CT 260,100.00 3,433,320.00 3,693,420.00 2 "20,001-22,000" 6,062.67 6,062.66 043-020-006-000 10956 RYLEY CT 431,460.00 0.00 431,460.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-007-000 10954 RYLEY CT 350,000.00 3,240,000.00 3,590,000.00 2 "20,001-22,000" 6,062.67 6,062.66 043-020-008-000 10952 RYLEY CT 355,433.00 1,695,150.00 2,050,583.00 2 "18,001-20,000" 5,873.21 5,873.20 043-020-009-000 10950 RYLEY CT 164,045.00 1,230,350.00 1,394,395.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-010-000 10948 RYLEY CT 479,300.00 390,000.00 869,300.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-011-000 10946 RYLEY CT 259,776.00 1,544,226.00 1,804,002.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-012-000 10944 RYLEY CT 258,789.00 0.00 258,789.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-013-000 10942 RYLEY CT 202,262.00 0.00 202,262.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-014-000 10940 RYLEY CT 73,880.00 1,592,583.00 1,666,463.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-020-015-000 10940 GHIRARD CT 43,093.00 0.00 43,093.00 2 Exempt 0.00 0.00 043-020-016-000 NO SITUS AVAILABLE 110,323.00 0.00 110,323.00 2 Exempt 0.00 0.00 043-020-017-000 10920 GHIRARD CT 116,450.00 0.00 116,450.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-018-000 10900 GHIRARD CT 301,865.00 0.00 301,865.00 2 "20,001-22,000" 6,062.67 6,062.66 043-020-019-000 10880 GHIRARD CT 552,143.00 1,840,134.00 2,392,277.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-020-020-000 10860 GHIRARD CT 323,671.00 1,100,928.00 1,424,599.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-020-021-000 10840 GHIRARD CT 334,054.00 1,444,595.00 1,778,649.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-020-022-000 10820 GHIRARD CT 450,000.00 2,950,000.00 3,400,000.00 2 "18,001-20,000" 5,873.21 5,873.20 043-020-023-000 10800 GHIRARD CT 208,393.00 0.00 208,393.00 2 "14,001-16,000" 5,494.29 5,494.28 043-020-024-000 10780 GHIRARD CT 196,130.00 0.00 196,130.00 2 "8,000-12,000" 5,115.37 5,115.36 043-020-025-000 10760 GHIRARD CT 96,082.00 2,067,451.00 2,163,533.00 2 "18,001-20,000" 5,873.21 5,873.20 043-020-026-000 10911 GHIRARD CT 273,408.00 1,872,865.00 2,146,273.00 2 "16,001-18,000" 5,683.75 5,683.74 043-020-027-000 10931 GHIRARD CT 420,000.00 0.00 420,000.00 2 "18,001-20,000" 5,873.21 5,873.20 043-020-028-000 10951 GHIRARD CT 62,796.00 1,067,643.00 1,130,439.00 2 "18,001-20,000" 5,873.21 5,873.20 Willdan Financial Services Page 7 of 10 Page 187 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 043-020-029-000 10971 GHIRARD CT 156,994.00 2,249,760.00 2,406,754.00 2 "20,001-22,000" 6,062.67 6,062.66 043-020-030-000 10960 RYLEY CT 164,938.00 1,484,472.00 1,649,410.00 2 "20,001-22,000" 6,062.67 6,062.66 043-030-001-000 11545 HENNESS RD 572,220.00 2,548,980.00 3,121,200.00 2 "16,001-18,000" 5,683.75 5,683.74 043-030-002-000 11539 HENNESS RD 142,051.00 0.00 142,051.00 2 "14,001-16,000" 5,494.29 5,494.28 043-030-003-000 11533 HENNESS RD 410,115.00 1,443,611.00 1,853,726.00 2 "18,001-20,000" 5,873.21 5,873.20 043-030-004-000 11527 HENNESS RD 256,567.00 1,515,988.00 1,772,555.00 2 "20,001-22,000" 6,062.67 6,062.66 043-030-005-000 11521 HENNESS RD 300,751.00 1,492,825.00 1,793,576.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-007-000 11497 HENNESS RD 284,970.00 2,596,920.00 2,881,890.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-008-000 11475 HENNESS RD 432,972.00 2,126,978.00 2,559,950.00 2 "20,001-22,000" 6,062.67 6,062.66 043-030-009-000 11430 HENNESS RD 261,699.00 1,278,918.00 1,540,617.00 2 "14,001-16,000" 5,494.29 5,494.28 043-030-010-000 11438 HENNESS RD 299,880.00 1,699,320.00 1,999,200.00 2 "14,001-16,000" 5,494.29 5,494.28 043-030-011-000 11446 HENNESS RD 218,009.00 2,129,771.00 2,347,780.00 2 "14,001-16,000" 5,494.29 5,494.28 043-030-012-000 11454 HENNESS RD 190,519.00 1,665,779.00 1,856,298.00 2 "18,001-20,000" 5,873.21 5,873.20 043-030-013-000 11462 HENNESS RD 372,439.00 1,710,622.00 2,083,061.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-014-000 11470 HENNESS RD 104,664.00 0.00 104,664.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-015-000 11478 HENNESS RD 510,000.00 2,862,873.00 3,372,873.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-016-000 11486 HENNESS RD 318,240.00 2,080,800.00 2,399,040.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-017-000 11494 HENNESS RD 484,500.00 3,034,500.00 3,519,000.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-018-000 11502 HENNESS RD 98,509.00 0.00 98,509.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-019-000 11510 HENNESS RD 262,200.00 0.00 262,200.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-020-000 11518 HENNESS RD 276,529.00 1,722,491.00 1,999,020.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-021-000 11526 HENNESS RD 335,580.00 2,253,180.00 2,588,760.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-022-000 11534 HENNESS RD 191,053.00 1,526,167.00 1,717,220.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-030-023-000 11542 HENNESS RD 284,345.00 1,684,213.00 1,968,558.00 2 "20,001-22,000" 6,062.67 6,062.66 043-040-003-000 11687 HENNESS RD 382,500.00 2,677,500.00 3,060,000.00 2 "14,001-16,000" 5,494.29 5,494.28 043-040-004-000 11679 HENNESS RD 269,280.00 3,035,520.00 3,304,800.00 2 "16,001-18,000" 5,683.75 5,683.74 043-040-005-000 11671 HENNESS RD 500,000.00 0.00 500,000.00 2 "16,001-18,000" 5,683.75 5,683.74 043-040-006-000 11667 HENNESS RD 250,989.00 1,143,405.00 1,394,394.00 2 "16,001-18,000" 5,683.75 5,683.74 043-040-007-000 11655 HENNESS RD 335,580.00 2,056,626.00 2,392,206.00 2 "18,001-20,000" 5,873.21 5,873.20 043-040-008-000 11647 HENNESS RD 335,580.00 1,869,660.00 2,205,240.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-009-000 11639 HENNESS RD 500,000.00 3,175,000.00 3,675,000.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-010-000 11633 HENNESS RD 500,000.00 0.00 500,000.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-011-000 11627 HENNESS RD 395,086.00 1,986,262.00 2,381,348.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-012-000 11623 HENNESS RD 500,000.00 2,408,000.00 2,908,000.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-013-000 11615 HENNESS RD 260,446.00 1,302,812.00 1,563,258.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-014-000 11607 HENNESS RD 185,063.00 2,833,425.00 3,018,488.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-015-000 11595 HENNESS RD 608,479.00 1,364,245.00 1,972,724.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-016-000 11583 HENNESS RD 273,076.00 1,695,364.00 1,968,440.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-017-000 11575 HENNESS RD 273,076.00 1,475,761.00 1,748,837.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-018-000 11561 HENNESS RD 273,408.00 1,530,008.00 1,803,416.00 2 "20,001-22,000" 6,062.67 6,062.66 043-040-019-000 11553 HENNESS RD 474,300.00 3,019,200.00 3,493,500.00 2 "18,001-20,000" 5,873.21 5,873.20 043-040-020-000 11550 HENNESS RD 258,942.00 2,684,232.00 2,943,174.00 2 "20,001-22,000" 6,062.67 6,062.66 043-040-021-000 11558 HENNESS RD 195,653.00 1,394,142.00 1,589,795.00 2 "18,001-20,000" 5,873.21 5,873.20 043-040-022-000 11566 HENNESS RD 349,860.00 1,799,280.00 2,149,140.00 2 "18,001-20,000" 5,873.21 5,873.20 043-040-023-000 11574 HENNESS RD 270,608.00 1,591,174.00 1,861,782.00 2 "20,001-22,000" 6,062.67 6,062.66 043-040-024-000 11582 HENNESS RD 468,180.00 2,854,572.00 3,322,752.00 2 "Greater than 22,000" 6,252.12 6,252.12 Willdan Financial Services Page 8 of 10 Page 188 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 043-040-025-000 11590 HENNESS RD 273,408.00 1,066,303.00 1,339,711.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-026-000 11598 HENNESS RD 586,053.00 249,739.00 835,792.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-027-000 11606 HENNESS RD 254,592.00 1,635,672.00 1,890,264.00 2 "16,001-18,000" 5,683.75 5,683.74 043-040-028-000 11614 HENNESS RD 335,580.00 2,636,700.00 2,972,280.00 2 "16,001-18,000" 5,683.75 5,683.74 043-040-029-000 11622 HENNESS RD 183,486.00 1,319,931.00 1,503,417.00 2 "20,001-22,000" 6,062.67 6,062.66 043-040-030-000 11630 HENNESS RD 257,910.00 2,203,200.00 2,461,110.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-031-000 11638 HENNESS RD 221,874.00 1,086,625.00 1,308,499.00 2 "Greater than 22,000" 6,252.12 6,252.12 043-040-032-000 11646 HENNESS RD 103,509.00 405,000.00 508,509.00 2 "18,001-20,000" 5,873.21 5,873.20 043-040-033-000 11654 HENNESS RD 229,500.00 2,473,500.00 2,703,000.00 2 "16,001-18,000" 5,683.75 5,683.74 043-040-034-000 11662 HENNESS RD 335,580.00 2,727,786.00 3,063,366.00 2 "14,001-16,000" 5,494.29 5,494.28 043-050-002-000 10251 ANNIES LP 100,395.00 775,283.00 875,678.00 2 Condo 2,728.20 2,728.18 043-050-003-000 10249 ANNIES LP 104,449.00 678,939.00 783,388.00 2 Condo 2,728.20 2,728.18 043-050-004-000 10247 ANNIES LP 92,006.00 817,369.00 909,375.00 2 Condo 2,728.20 2,728.18 043-050-005-000 10239 ANNIES LP 100,395.00 853,369.00 953,764.00 2 Condo 2,728.20 2,728.18 043-050-007-000 10235 ANNIES LP 153,000.00 1,173,000.00 1,326,000.00 2 Condo 2,728.20 2,728.18 043-050-008-000 10229 ANNIES LP 108,242.00 920,066.00 1,028,308.00 2 Condo 2,728.20 2,728.18 043-050-009-000 10227 ANNIES LP 142,800.00 1,183,200.00 1,326,000.00 2 Condo 2,728.20 2,728.18 043-050-011-000 10215 ANNIES LP 108,242.00 898,418.00 1,006,660.00 2 Condo 2,728.20 2,728.18 043-050-012-000 10213 ANNIES LP 91,934.00 576,150.00 668,084.00 2 Condo 2,728.20 2,728.18 043-050-013-000 10211 ANNIES LP 37,676.00 728,507.00 766,183.00 2 Condo 2,728.20 2,728.18 043-050-014-000 10201 ANNIES LP 221,560.00 665,538.00 887,098.00 2 Condo 2,728.20 2,728.18 043-050-015-000 10199 ANNIES LP 134,507.00 1,506,490.00 1,640,997.00 2 Condo 2,728.20 2,728.18 043-050-017-000 10189 ANNIES LP 122,704.00 831,059.00 953,763.00 2 Condo 2,728.20 2,728.18 043-050-018-000 10187 ANNIES LP 383,520.00 982,770.00 1,366,290.00 2 Condo 2,728.20 2,728.18 043-050-019-000 10175 ANNIES LP 92,006.00 914,654.00 1,006,660.00 2 Condo 2,728.20 2,728.18 043-050-020-000 10173 ANNIES LP 311,610.00 1,078,650.00 1,390,260.00 2 Condo 2,728.20 2,728.18 043-050-024-000 NO SITUS AVAILABLE 0.00 0.00 0.00 2 Exempt 0.00 0.00 043-050-025-000 10222 EDWIN WAY 98,892.00 0.00 98,892.00 2 Undeveloped 7,692.01 7,692.00 043-050-026-000 10202 EDWIN WAY 98,892.00 0.00 98,892.00 2 Undeveloped 13,262.08 13,262.08 043-050-027-000 10204 EDWIN WAY 98,892.00 0.00 98,892.00 2 Undeveloped 11,935.87 11,935.86 043-060-009-000 10151 EDWIN WAY 142,462.00 0.00 142,462.00 2 Undeveloped 14,853.53 14,853.52 043-060-010-000 10105 EDWIN WAY 142,462.00 0.00 142,462.00 2 Undeveloped 9,018.21 9,018.20 043-060-011-000 10162 EDWIN WAY 778,419.00 0.00 778,419.00 2 Undeveloped 90,712.63 90,712.62 043-060-012-000 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 JAKE'S WAY 112,200.00 1,739,100.00 1,851,300.00 2 SFA 2,728.20 2,728.18 043-060-015-000 10125 JAKE'S WAY 112,200.00 1,739,100.00 1,851,300.00 2 SFA 2,728.20 2,728.18 043-060-016-000 10117 JAKE'S WAY 162,426.00 2,126,700.00 2,289,126.00 2 SFA 2,728.20 2,728.18 043-060-017-000 10109 JAKE'S WAY 107,100.00 2,305,200.00 2,412,300.00 2 SFA 2,728.20 2,728.18 043-060-018-000 10097 JAKE'S WAY 159,242.00 2,085,000.00 2,244,242.00 2 SFA 2,728.20 2,728.18 043-060-019-000 10089 JAKE'S WAY 150,000.00 2,105,000.00 2,255,000.00 2 SFA 2,728.20 2,728.18 043-060-020-000 10085 JAKE'S WAY 153,000.00 2,147,100.00 2,300,100.00 2 SFA 2,728.20 2,728.18 043-060-021-000 10077 JAKE'S WAY 162,426.00 2,126,700.00 2,289,126.00 2 SFA 2,728.20 2,728.18 043-060-022-000 10069 JAKE'S WAY 162,426.00 2,126,700.00 2,289,126.00 2 SFA 2,728.20 2,728.18 043-060-023-000 10061 JAKE'S WAY 162,426.00 2,126,700.00 2,289,126.00 2 SFA 2,728.20 2,728.18 043-060-024-000 10076 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 Willdan Financial Services Page 9 of 10 Page 189 of 225 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 2025/26 Total Number Value Assessed Value Value Charge 043-060-025-000 10084 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-060-026-000 10096 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-060-027-000 10102 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-003-000 11768 HENNESS RD 176,773.00 0.00 176,773.00 2 Undeveloped 15,649.26 15,649.24 043-070-008-000 10036 EDWIN WAY 457,504.00 2,448,000.00 2,905,504.00 2 4PLEXSFA 10,912.80 10,912.78 043-070-009-000 10020 EDWIN WAY 0.00 0.00 0.00 2 Exempt 0.00 0.00 043-070-010-000 10012 EDWIN WAY 252,617.00 0.00 252,617.00 2 Undeveloped 26,258.92 26,258.90 043-070-011-000 10003 EDWIN WAY 0.00 0.00 0.00 2 Exempt 0.00 0.00 043-070-012-000 10053 JAKE'S WAY 162,426.00 1,677,900.00 1,840,326.00 2 SFA 2,728.20 2,728.18 043-070-013-000 10047 JAKE'S WAY 162,426.00 1,677,900.00 1,840,326.00 2 SFA 2,728.20 2,728.18 043-070-014-000 10041 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-015-000 10033 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-016-000 10027 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-017-000 10019 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-018-000 10026 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-019-000 10038 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-020-000 10046 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 043-070-021-000 10054 JAKE'S WAY 102,816.00 0.00 102,816.00 2 SFA 2,728.20 2,728.18 Total: $102,016,823.00 $493,469,939.00 $595,486,762.00 $3,501,871.27 $3,501,866.84 Total Charged Parcels: 425 Total Parcels: 432 Willdan Financial Services Page 10 of 10 Page 190 of 225 Wf'WILLDAN EXHIBIT B TRUCKEE DONNER PUD COMMUNITY FACILITIES DISTRICT NO. 04-1 (GRAYS CROSSING Boundary Diagram Page 191 of 225 IDENTIFICATION OF TAX ZONES FOR Y PROPOSEb COMMUNITY F ACLUTIE5 OT5TRICT NO. 04 1 v (GRAYS CROSSING) ;ITEr iRUCkEE bOf&! ER PUBLIC UTILITY DISTRICT re COUNTY OF NEVAbA 3 STATE OF CALIFOWNU A kU . , I I— _ __ _ )% Vrcxl%zTY MAP I 4 � � w os 1 4 l °s r 4 t I 1 AEc I ti I � l ti 1 ti n-.!ca 1 1 I�EC LEC7ENC, x.* + RS-X(Singly FamilyResiduTtial] t RM((Multi-Fan:Y idcrrtial] CN(Naighborhagd CommercFal) 0 RAC{Re.crenticn} ZONF 1 �� 05 70NE 2 KM NE NE d , r EMYMECU'16.INC. 1i IJT 6 W. suin 31 90 YJ 7. 6 mgi ImOO onvoe rwal IIOAG xlnC 3es, rnuoree,ew aa,el 5HEET l 01 l Page 192 of 225 Wf'WILLDAN EXHIBIT C TRUCKEE DONNER PUD COMMUNITY FACILITIES DISTRICT NO. 04-1 (GRAYS CROSSING Delinquency Summary Page 193 of 225 DELINQUENCY SUMMARY BY DISTRICT Truckee Donner PUD Community Facilities District No. i ■ • ANZY 7M 0 = 1 2009/10-1 $1,119,963.85 $38,366.44 3.43% 416 3 08/29/2025 2009/10-2 $1,119,963.85 $38,366.44 3.43% 416 3 08/29/2025 2010/11-1 $1,165,181.90 $202,912.48 17.41% 416 3 08/29/2025 2010/11-2 $1,165,181.90 $202,912.48 17.41% 416 3 08/29/2025 2011/12-1 $1,195,150.68 $211,675.49 17.71% 416 3 08/29/2025 2011/12-2 $1,195,150.68 $211,675.49 17.71% 416 3 08/29/2025 2012/13-1 $1,236,735.78 $228,393.70 18.47% 416 3 08/29/2025 2012/13-2 $1,236,735.78 $228,393.70 18.47% 416 3 08/29/2025 2013/14-1 $1,264,729.82 $235,262.73 18.60% 416 3 08/29/2025 2013/14-2 $1,264,729.82 $235,262.73 18.60% 416 3 08/29/2025 2014/15-1 $1,284,580.98 $236,125.03 18.38% 416 3 08/29/2025 2014/15-2 $1,284,580.98 $236,125.03 18.38% 416 3 08/29/2025 2015/16-1 $1,299,558.24 $235,092.91 18.09% 415 3 08/29/2025 2015/16-2 $1,299,558.24 $235,092.91 18.09% 415 3 08/29/2025 2016/17-1 $1,319,863.48 $238,534.36 18.07% 413 3 08/29/2025 2016/17-2 $1,319,863.48 $238,534.36 18.07% 413 3 08/29/2025 2017/18-1 $1,241,081.09 $161,671.77 13.03% 413 3 08/29/2025 2017/18-2 $1,241,081.09 $161,671.77 13.03% 413 3 08/29/2025 2018/19-1 $1,252,842.07 $160,968.00 12.85% 408 3 08/29/2025 2018/19-2 $1,252,842.07 $160,968.00 12.85% 408 3 08/29/2025 2019/20-1 $1,289,656.10 $107,253.01 8.32% 407 3 08/29/2025 2019/20-2 $1,289,656.10 $107,253.01 8.32% 407 3 08/29/2025 2020/21-1 $1,302,711.62 $171,712.74 13.18% 407 4 08/29/2025 2020/21-2 $1,302,711.62 $173,840.55 13.34% 407 5 08/29/2025 2021/22-1 $1,327,863.06 $171,699.18 12.93% 407 3 08/29/2025 2021/22-2 $1,327,863.06 $171,699.18 12.93% 407 3 08/29/2025 2022/23-1 $1,466,825.70 $270,193.37 18.42% 426 3 08/29/2025 2022/23-2 $1,466,825.70 $270,193.37 18.42% 426 3 08/29/2025 2023/24-1 $1,516,384.84 $293,056.85 19.33% 425 3 08/29/2025 2023/24-2 $1,516,384.84 $293,056.85 19.33% 425 3 08/29/2025 2024/25-1 $1,716,601.53 $439,060.28 25.58% 425 5 08/29/2025 2024/25-2 $1,716,601.53 $441,753.55 25.73% 425 6 08/29/2025 TOTAL $41,999,461.48 $6,808,777.77 16.21% Willdan Financial Services Page 1 Page 194 of 225 Wf'WILLDAN EXHIBIT D TRUCKEE DONNER PUD CFD 04-1 (GRAYS CROSSING) SERIES 2004 AND SERIES 2005 Debt Service Schedules Page 195 of 225 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 $10,280,000.00 Matured Principal 4,955,000.00 Called Principal 140,000.00 Total Bond Issue $15,375,000.00 Willdan Financial Services Page 1 of 1 Page 196 of 225 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 $12,350,000.00 Matured Principal 6,625,000.00 Called Principal 180,000.00 Total Bond Issue $19,155,000.00 Willdan Financial Services Page 1 of 1 Page 197 of 225 Wf'WILLDAN EXHIBIT E TRUCKEE DONNER PUD COMMUNITY FACILITIES DISTRICT NO. 04-1 (GRAYS CROSSING Rate and Method of Apportionment of Special Tax Page 198 of 225 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 199 of 225 "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 200 of 225 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 201 of 225 "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 202 of 225 "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 203 of 225 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 204 of 225 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$1 7,500 per Acre On July I, 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. 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 205 of 225 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 206 of 225 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 207 of 225 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 208 of 225 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 209 of 225 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 210 of 225 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 2024/2025 ANNUAL CONTINUING DISCLOSURE INFORMATION STATEMENT . JANUARY 15, 2026 . . NVWILLDAN + 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 211 of 225 DRAFT FOR DISCUSSION PURPOSES ONLY *"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 333 South Hope Street, Suite 2525 Los Angeles, California 90071 (213) 553-4486 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 212 of 225 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 2024/2025 CFD 04-1 (Gray's Crossing) Page 1 of 7 Page 213 of 225 DRAFT FOR DISCUSSION PURPOSES ONLY -IVW 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. 2024/2025 CFD 04-1 (Gray's Crossing) Page 2 of 7 Page 214 of 225 DRAFT FOR DISCUSSION PURPOSES ONLY *"WI LLDAN II. BOND INFORMATION A. PRINCIPAL OUTSTANDING Bondissue As of June i CFD 04-1 Gray's Crossing Special Tax Bonds Series 2004 $10,920,000 CFD 04-1 Gray's Crossing Special Tax Bonds Series 2005 13,145,000 Total0. 000 B. FUND BALANCES Fund Balances As of June 30, 2025 Special Tax Fund $1,779,918 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 $54,042 Administrative Expense Fund $62,191 Rebate Fund $0 Surplus Fund $7,384 Reserve Account of the Special Tax Fund $1,963,629 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, 2025, a draw on the Reserve Fund for $171,894 was performed in order to pay the September 1 , 2025 Debt Service Payment on the Bonds. The District had insufficient funds to make the full debt service payment of$2,051,210 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 August 26, 2025. 2024/2025 CFD 04-1 (Gray's Crossing) Page 3 of 7 Page 215 of 225 DRAFT FOR DISCUSSION PURPOSES ONLY *"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, 2025 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, 2025, not June 30, 2025. Therefore, the audited financial statements will be disseminated when completed by June 30, 2026 and still within the six months following the end of the District's fiscal year. 2024/2025 CFD 04-1 (Gray's Crossing) Page 4 of 7 Page 216 of 225 DRAFT FOR DISCUSSION PURPOSES ONLY -*NVW 1 LLDAN IV. OPERATING INFORMATION A. DELINQUENCY SUMMARY The following table sets forth a summary of the delinquent Annual Special Taxes within the District. Number of Delinquent Percent of Fiscal Number of Parcels Total Annual Special Tax Special Tax Year Parcels Delinquent Special Tax Amount(1) Delinquent 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 3 $2,579,312 $214,506 8.32% 2020/21 407 5 $2,605,423 $345,553 13.26% 2021/22 407 3 $2,655,726 $343,398 12.93% 2022/23 426 3 $2,933,651 $540,387 18.42% 2023/24 425 3 $3,032,770 $586,114 19.33% 2024/25 425 6 $3,433,203 $880,814 25.66% Amount delinquent as of August 29,2025. 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 5,741 $2,965,488 019-780-006-000 2024/25 262 $4,458 019-840-028-000 2024/25 141 $2,693 019-870-019-000 2024/25 262 $5,387 019-900-020-000 2020/21 1,723 $5,491 043-010-005-000 2009/10 5,741 $1,413,758 043-010-007-000 2009/10 5,741 $2,409,375 Amount delinquent as of August 29,2025. Source:Nevada County Tax Collector,as compiled by Willdan Financial Services. 2024/2025 CFD 04-1 (Gray's Crossing) Page 5 of 7 Page 217 of 225 DRAFT FOR DISCUSSION PURPOSES ONLY ')VW I LLDAN 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 October 8, 2025, a Notice of Intent to Remove Delinquent Special Tax Installments from the Tax Roll was recorded with Nevada County for six (6) delinquent parcels. On October 27, 2025, six (6) parcels were sent to the Foreclosure Attorney for collection of the Fiscal Year 2024/25 delinquencies. As of the date of this Report, six (6) 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 $2,965,488 019-780-006-000 2024/25 $4,458 019-840-028-000 2024/25 $2,693 019-870-019-000 2024/25 $5,387 043-010-005-000 2009/10 $1,413,758 043-010-007-000 2009/10 $2,409,375 Amount delinquent as of November 26,2025. 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. Parcel 2025/26 Percent of 2025126 Category Count Assessed Value Bonds(1) Lien Ratio Special Tax Special Tax Special Tax 408 $588,888,319 $14,594,246 40.35 $2,123,714 60.65% $2,123,710 Golf Course 6 2,900,323 2,083,144 1.39 303,133 8.66% 303,133 Undeveloped(3) 11 3,544,704 7,387,610 0.48 1,075,024 30.70% 1,075,024 O)Calculated as the pro-rata share of the Maximum Tax times the principal outstanding on the Bonds as of June 30,2025. (2)The Residential Category contains 125 parcels that have no structure value. (3)The Undeveloped Category contains 7 Commercial parcels. Note:Totals may not tie due to rounding. Source:Nevada County 2025126 Secured Property Roll,as compiled by Willdan Financial Services. 2024/2025 CFD 04-1 (Gray's Crossing) Page 6 of 7 Page 218 of 225 DRAFT FOR DISCUSSION PURPOSES ONLY Wr'W I LLDAN D. PRINCIPAL PROPERTY OWNERS The following table sets forth the principal property owners within the District for Fiscal Year 2025/26. The information in this table is based on the Nevada County 2025/26 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 '25/26 2025/26 Maximum Applied OwnerParcel Special Special Property Siddiqui Family Partnership LP(1) 2 $573,452 $573,452 $1,208,475 $- $1,208,475 Dk Alviso LLC(1) 1 312,189 312,189 546,820 - 546,820 Tahoe Club Co. LLC 6 303,133 303,133 1,021,799 1,878,524 2,900,323 Gray's Crossing Investments LLC (1) 7 98,670 98,670 1,010,990 - 1,010,990 Gray's Crossing Land Holdings LLC(1) 1 90,713 90,713 778,419 - 778,419 Village at Gray's Crossing LLC 19 60,020 60,020 2,662,668 14,268,900 16,931,568 Greenstein Martin R Trste Etal 9 42,098 42,098 891,712 1,683,000 2,574,712 Investment Specialty Group LLC(1) 3 16,483 16,483 1,191,560 - 1,191,560 Case John S Trste Etal 3 16,483 16,483 500,605 2,067,451 2,568,056 Rahimian Javad &Shirin Trstes 2 12,125 12,125 271,432 3,403,336 3,674,768 Other Property Owners 372 1,976,505 1,976,501 91,778,927 470,168,728 561,947,655 Total 425 i i i (1)Parcels are categorized as undeveloped. Note:Totals may not tie due to rounding. Source:Nevada County 2025126 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. 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. 2024/2025 CFD 04-1 (Gray's Crossing) Page 7 of 7 Page 219 of 225 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 10/15/2025 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 Mello Roos Report Information as of Reporting Year End: 6/30/2025 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: 8/31/2004 Settlement Date: 9/14/2004 Original Principal Amount: $15,375,000.00 Date of Filing: 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: Fitch: Moody's: Other: Page 1 of 3 Page 220 of 225 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 10/15/2025 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 Fund Balance Principal Amount of Bonds Outstanding: $10,900,000.00 Bond Reserve Fund: $900,548.90 Capitalized Interest Fund: $0.00 Construction Fund(s): $0.00 Assessed Value Assessed or Appraised Value Reported as of: 7/l/2025 Use Appraised Value only in first year or before annual tax roll billing commences: From Equalized Tax Roll Total Assessed Value of All Parcels: $595,333,346.00 Tax Collection Total Amount of Special Taxes Due Annually: $3,433,203.06 Total Amount of Unpaid Special Taxes Annually: $880,813.83 Does this agency participate in the County's Teeter Plan? No Delinquent Reporting Delinquent Parcel Information Reported as of Equalized Tax Roll of: 8/29/2025 Total Number of Delinquent Parcels: 8 Total Amount of Special Taxes Due on Delinquent Parcels: $6,808,777.77 Delinquency Parcel Reporting Document Type Document Name File Upload Date Delinquent Parcel Detail Report FY2425 TDPUD CFD 04-1 CDIAC DQ Report.pdf 10/9/2025 Foreclosure Date Foreclosure Commenced Total Number of Foreclosure Parcels Total Amount of Tax on Foreclosure Parcels 10/8/2025 6 $880,814.00 Page 2 of 3 Page 221 of 225 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 10/15/2025 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 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,Ste 200 City: Temecula State: CA Zip Code: 92590 Telephone: 951-5873519 Fax Number: E-mail: rlane@willdan.com Comments Issuer Comments: A draw on the Reserve Fund was completed on 9/l/25 in order to pay debt service. Page 3 of 3 Page 222 of 225 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 10/15/2025 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 Mello Roos Report Information as of Reporting Year End: 6/30/2025 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: 6/21/2005 Settlement Date: 6/21/2005 Original Principal Amount: $19,155,000.00 Date of Filing: 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: Fitch: Moody's: Other: Page 1 of 3 Page 223 of 225 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 10/15/2025 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 Fund Balance Principal Amount of Bonds Outstanding: $13,120,000.00 Bond Reserve Fund: $1,063,080.57 Capitalized Interest Fund: $0.00 Construction Fund(s): $0.00 Assessed Value Assessed or Appraised Value Reported as of: 7/l/2025 Use Appraised Value only in first year or before annual tax roll billing commences: From Equalized Tax Roll Total Assessed Value of All Parcels: $595,333,346.00 Tax Collection Total Amount of Special Taxes Due Annually: $3,433,203.06 Total Amount of Unpaid Special Taxes Annually: $880,813.83 Does this agency participate in the County's Teeter Plan? No Delinquent Reporting Delinquent Parcel Information Reported as of Equalized Tax Roll of: 8/29/2025 Total Number of Delinquent Parcels: 8 Total Amount of Special Taxes Due on Delinquent Parcels: $6,808,777.77 Delinquency Parcel Reporting Document Type Document Name File Upload Date Delinquent Parcel Detail Report FY2425 TDPUD CFD 04-1 CDIAC DQ Report.pdf 10/9/2025 Foreclosure Date Foreclosure Commenced Total Number of Foreclosure Parcels Total Amount of Tax on Foreclosure Parcels 10/8/2025 6 $880,814.00 Page 2 of 3 Page 224 of 225 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 10/15/2025 4M��. 94209-0001 Tel.: (916)653-3269 Fax: (916)654-7440 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,Ste 200 City: Temecula State: CA Zip Code: 92590 Telephone: 951-5873519 Fax Number: E-mail: rlane@willdan.com Comments Issuer Comments: A draw on the Reserve Fund was completed on 9/l/25 in order to pay debt service. Page 3 of 3 Page 225 of 225