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HomeMy WebLinkAbout2023 05.15 SVCFD 1 Cityof Apache Junction Arizona City Council Chambers 300 E Superstition Blvd Apache Junction,AZ 85119 Special Meeting Agenda apachejunctionaz.gov Superstition Vistas Community Ph:(480)982-8002 Facilities District No. 1 Tuesday, May 16,2023 5:30 PM City Council Chambers A. Call to Order B. Roll Call C. Agenda Items 1. 23-205 Consideration and approval of minutes of meeting of May 17, 2022. Sponsors: Leslie DeReche Attachments: Minutes 051722 D. Public Hearing Public hearings required by applicable law shall be conducted by the board and any person shall be given the opportunity to speak.All remarks shall be addressed to the board as a whole and not to any member thereof. Such remarks shall be limited to five(5)minutes unless additional time is granted by the board chairmember. This time limitation shall not apply to applicants and their agents appearing before the board. 2. 23-207 Presentation and discussion on the feasibility report for a proposed project to be financed by the issuance of the Superstition Vistas Community Facilities District No.1 Assessment District No.1 Special Assessment Bonds. Sponsors: Leslie DeReche Attachments: FEAST REPORT SVCFD 1 AD 1 SAP Srs 23 4-27-23 City of Apache Junction,Arizona Page 1 Printed on 511112023 Superstition Vistas Community Special Meeting Agenda May 16,2023 Facilities District No.1 3. 23- 06 Presentation, discussion and consideration of Resolution No. 2023-001 SVCFD No. 1, a resolution of the district board of Superstition Vistas Community Facilities District No. 1 relating to approval of the feasibility report for the acquisition and financing of certain improvements benefiting the district; approving the prior giving of notice of hearing relating to the feasibility report; declaring the district board's intention to acquire the improvements described in the feasibility report; forming an assessment district; determining that special assessment bonds may be issued to finance the costs and expenses of the improvements; declaring the improvements to be of more than local or ordinary public benefit and that the costs of the improvements will be assessed upon Assessment District No.1; and ordering the public infrastructure projects performed. Sponsors: Leslie DeReche Attachments: RFS-2023-001 SVCFD No. 1 AD 1 Rev Sds 2023-Resolution FFASI REPORT SVCFD 1 AD 1 SAB Srs 23 4-27-23 686692243 v 1 SVCFD No. 1 AD No. 1 Recorded Waiver and 4. 23-203 Presentation, discussion and consideration of Resolution No. 2023-002 SVCFD No. 1, a resolution of the district board of Superstition Vistas Community Facilities District No. 1 approving the levying of an assessment diagram for Assessment District No. 1 within the district. Sponsors: Leslie DeReche Attachments: RES-2023-002 SVCFD 1 AD 1 2023-Resolution Approving A. SV CDF No.1 AD NoA -Assessment Diagram Plan--2023-04 E. District Manager Report F. District Director Report - Presentation and discussion of the following items: G. District Treasurer Report - Presentation and discussion H. Adjournment Copies of this agenda and additional information on any of the items listed above may be obtained from the office of the city clerk/district clerk, 300 E Superstition Blvd,Apache Junction,AZ 85119, Monday through Thursday, 7:00a to 6:00p, excluding holidays. The City of Apache Junction invites and welcomes people of all abilities to use our programs, sites and facilities. Specific requests may be made by contacting the Human Resources Office at(480)474-2617 or TDD(480)983-0095. Members of this board will attend either in person or by telephone, video or internet conferencing. City of Apache Junction,Arizona Page 2 Printed on 511112023 City of Apache Junction, Arizona 300 E Superstition Boulevard Agenda Item Cover Sheet Apache Junction,AZ 85119 Agenda Item No. 1. File ID: 23-205 Sponsor: Leslie DeReche Agenda Date:5/16/2023 Index: In Control: Superstition Vistas Community Facilit Consideration and approval of minutes of meeting of May 17, 2022. City of Apache Junction,Arizona Page 1 Printed on 511112023 City of Apache Junction, Arizona City Council Chambers 300 E Superstition City Blvd Blvd Apache Junction,AZ 85119 Meeting Minutes apachejunctionaz.gov Ph: (480)982-8002 Superstition Vistas Community Facilities District No. 1 Tuesday, May 17,2022 5:30 PM City Council Chambers A. Call to Order Chair Wilson called the meeting to order at 5:38 p.m. B. Roll Call Present 4- Chairperson Wilson Boardmember Evans Boardmember Nesser Boardmember Schroeder Excused 1 - Vice Chair Rizzi Staff in attendance Bryant Powell, District Manager Matt Busby,Assistant District Manager Jennifer Pena, District Clerk Joel Stern, District Legal Counsel Mike Loggins, Water District Director Leslie DeReche, District Treasurer Rudy Esquivias, Development Services Director Evie McKinney, Deputy District Clerk Sidney Urias, Senior Planner C. Agenda Items 1. 22-285 Consideration of approval of minutes of the meeting of February 15, 2022. Boardmember Evans moved,seconded by Boardmember Nesser. Yes 4- Chairperson Wilson, Boardmember Evans, Boardmember Nesser, and Boardmember Schroeder No 0 Excused 1 - Vice Chair Rizzi Chair Wilson called for a motion. D. Public Hearing 2. 22-288 Presentation, discussion, public hearing and consideration of Resolution No. 2022-002 SVCFD No. 1, a resolution of the district board of the Superstition Vistas Community Facilities District No. 1 approving a proposed district budget for Fiscal Year 2022/23 and declaring an emergency. City of Apache Junction,Arizona Page 1 Superstition Vistas Community Meeting Minutes May 17, 2022 Facilities District No. 1 Boardmember Evans moved,seconded by Boardmember Nesser that Resolution No.2022-002 SVCFD No. 1, a resolution of the district board of the Superstition Vistas Community Facilities District No. 1 approving a proposed district budget for Fiscal Year 2022/23 be approved. Yes 4- Chairperson Wilson, Boardmember Evans, Boardmember Nesser, and Boardmember Schroeder No 0 Excused 1 - Vice Chair Rizzi Zach Sakas of Sherman and Howard, the city's outside counsel for the community facilities district explained the proposed district budget. Chair Wilson called for a motion. 3. 22-304 Presentation, discussion, public hearing and consideration of Resolution No. 2022-003 SVCFD No. 1, a resolution of the district board of the Superstition Vistas Community Facilities District No. 1 adopting the Fiscal Year 2022/23 budget, levying a tax and declaring an emergency. Boardmember Evans moved,seconded by boardmember Schroeder that Resolution No.2022-003 SVCFD No. 1, a resolution of the district board of the Superstition Vistas Community Facilities District No. 1 adopting the Fiscal Year 2022/23 budget, levying a tax Yes 4- Chairperson Wilson, Boardmember Evans, Boardmember Nesser, and Boardmember Schroeder No 0 Excused 1 - Vice Chair Rizzi Chair Wilson called for a motion. E. District Manager Report F. District Director Report - Presentation and discussion of the following items: G. District Treasurer Report - Presentation and discussion H. Adjournment Chairperson Wilson adjourned the meeting at 5:48 p.m. ACCEPTED THIS DAY OF 2023, BY THE CHAIR PERSON AND DISTRICT BOARD OF THE SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1 , (CITY OF APACHE JUNCTION,ARIZONA). SIGNED AND ATTESTED TO THIS DAY OF , 2023. WALTER"CHIP"WILSON Chairperson City of Apache Junction,Arizona Page 2 Superstition Vistas Community Meeting Minutes May 17, 2022 Facilities District No. 1 ATTEST. JENN|FEF{ PENA District Clerk SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1 MINUTES CERTIFICATION I hereby certify that the foregoing minutes are a true and correct copy of the minutes of the regular meeting of Superstition Vistas Community Facilities District No. 1 of the City of Apache Junction, Arizona, held on the 17th day of May, 3U22. | further certify that the meeting was duly called and held and that e quorum was present. Dated this day of , 2023. JENN|FEF{ PENA District Clerk City nr Apache Junction,Arizona Page City of Apache Junction, Arizona 300 E Superstition Boulevard Agenda Item Cover Sheet Apache Junction,AZ 85119 Agenda Item No.2. File ID: 23-207 Sponsor: Leslie DeReche Agenda Date:5/16/2023 Index: In Control: Superstition Vistas Community Facilit Presentation and discussion on the feasibility report for a proposed project to be financed by the issuance of the Superstition Vistas Community Facilities District No.1 Assessment District No.1 Special Assessment Bonds. City of Apache Junction,Arizona Page 1 Printed on 511112023 FEASIBILITY REPORT For The Issuance of Not to Exceed $2,000,000 Principal Amount OF SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1 ASSESSMENT DISTRICT NO. 1 SPECIAL ASSESSMENT BONDS, SERIES 2023 Public Hearing Date: May 16, 2023 TABLE OF CONTENTS SECTION Introduction; Purpose of Feasibility Report; General Description of District ONE Description of Public Infrastructure TWO Map of the District Showing Location of Public Infrastructure and Area to be Benefited THREE Estimate of Costs and Timetable for Acquisition of Public Infrastructure FOUR Plan of Finance FIVE APPENDIX Legal Description for Assessment District No. 1 1 Summary of Appraisal for Assessment District No. 1 2 (Complete copy of appraisal report is available upon request) SECTION ONE INTRODUCTION; PURPOSE OF FEASIBILITY REPORT; GENERAL DESCRIPTION OF DISTRICT INTRODUCTION This Feasibility Report(this"Report")has been prepared for presentation to the Board of Directors of the Superstition Vistas Community Facilities District No. 1 (the "District") in connection with the proposed issuance by the District of its Assessment District No. 1 Special Assessment Bonds, Series 2023 (the "Bonds") in a principal amount of not to exceed $2,000,000, pursuant to the Community Facilities District Act of 1988,Title 48, Chapter 4, Article 6 of Arizona Revised Statutes ("A.R.S."). PURPOSE OF FEASIBILITY REPORT This Report has been prepared for consideration of the feasibility and benefits of the Public Infrastructure(as defined in A.R.S.Section 48-701)to be financed by the Bonds(the"Public Infrastructure") and of the plan for financing the Public Infrastructure in accordance with the provisions of A.R.S.Section 48- 715. Pursuant to A.R.S. Section 48-715, this Report includes (i) a description of the Public Infrastructure to be financed—Section Two; (ii) maps showing, in general, the location of the Public Infrastructure and the area to be benefited by the Public Infrastructure—Section Three; (iii)an estimate of the cost to acquire, operate and maintain the Public Infrastructure and timetable for the acquisition of the Public Infrastructure —Section Four; and(iv)a plan for financing the Public Infrastructure—Section Five. This Report has been prepared for the consideration of the Board of Directors of the District only.It is not intended or anticipated that this Report will be relied upon by other persons,including,but not limited to,purchasers of the Bonds. This Report does not attempt to address the quality of the Bonds as investments or the likelihood of repayment of the Bonds. In preparing this Report,financial advisors,appraisers,counsel, engineers, District staff, City (as defined herein) staff and other experts have been consulted as deemed appropriate. GENERAL DESCRIPTION OF THE DISTRICT The District consists of approximately 1,375 acres of a larger 2,783-acre project within the City of Apache Junction, Arizona (the "City"), where D.R. Horton, Inc., a corporation organized and existing pursuant to the laws of the State of Delaware (the "Developer"), was the successful bidder at the public auction conducted by Arizona State Land Department("ASLD")and pursuant to the terms of the Certificate of Purchase 53-120190 executed November 12,2020,and the Developer is now developing the mixed use, master planned community known as Radiance at Superstition Vistas, on approximately 1,375 acres of a larger 2,783-acre project(the "Project"). The Project is located east of Meridian Road, west of Ironwood Drive, south of Solina (Radiance) Avenue and north of Ray Avenue. Construction on the Project commenced in November 2021, and the first home closings are projected to occur in or about July 2023. Single family residential units represent approximately 700 acres within the Project. Non-residential development comprises approximately 675 acres within the Project and includes churches, government, police and fire stations, schools, civic and commercial uses and common area, and neighborhood open space. The real property comprising Assessment District No. 1 consists of 400 lots (the"Assessed Lots") and is approximately 57.36 acres.The Assessed Lots have been finally established by the approval of final plats by the City, and all of the Assessed Lots will be developed by the Developer. ONE- 1 The following chart characterizes the approximate acreage within the District as well as the acreage within Assessment District No. 1,which is fully within the boundaries of the District. Approximate Approximate Assessment Total District District Acres District No. 1 Lot Area Acres Single Family Residential 700.00 57.36 Non-Residential(a) 675.00 0.00 Total 1,375.00 57.36 (a) Includes churches,police and fire stations, schools, civic and commercial uses and common area, and neighborhood open space. The District was created to assist with financing the acquisition of public infrastructure and public infrastructure purposes, including the Public Infrastructure, within the District. See Section Two for a description of the Public Infrastructure to be financed with a portion of the proceeds of the Bonds. A legal description of Assessment District No. I is included in. Appendix 1. Maps of the District, Assessment District No. 1,including the location,in general, of the Public Infrastructure,are included in Section Three. The proposed acquisition of the Public Infrastructure as defined in this Report is consistent with the approved General Plan for the District. ONE- 2 SECTION TWO DESCRIPTION OF PUBLIC INFRASTRUCTURE DESCRIPTION OF PUBLIC INFRASTRUCTURE The Public Infrastructure subject to this Report has been publicly bid pursuant to State statutes and District guidelines and will be financed by the Bonds and/or subsequent bond issues and other sources, if necessary. It is expected that the Public Infrastructure listed below will be acquired from the Developer with estimated cost and construction timing as noted. Total Certified Paid by Eligible for Funding Estimated Engineer's Prior from Bonds and Completion Acquisition Project Description Cost Cost Bonds Future Bonds Date* 1. Reverence Road $2,505,673.00 $2,505,673.00 $0 $2,505,673.00 May 2023 * Completion represents the date by which the Public Infrastructure was constructed,which may differ by the date that it was accepted by the City or other governmental entities,as applicable. The Public Infrastructure is comprised of the construction of a new roadway within the District known. as Reverence Road.The work includes approximately 2,325 lineal feet of two-lane,full street improvements with landscaped median. These improvements include potable water lines, storm drains, dry utilities, concrete curb and gutter, concrete sidewalk,paving, striping,public signage, streetlights, entry monument, landscaping, and irrigation. The roadway consists of two paved driving lanes made up of four and one-half inches(4�/z") of asphaltic concrete over eight inches(8")of aggregate base course. Proceeds of the Bonds are reasonably expected to be used to finance the acquisition of all or a portion of the Public Infrastructure upon acceptance by the District and the City, or other governmental entities, as applicable, of such Public Infrastructure pursuant to the terms of the District Development, Financing Participation,Waiver and Intergovernmental Agreement(the"District Development Agreement"),recorded on February 23, 2022, at Document No. 2022-021689 in the records of Pinal County, Arizona (the "County"), and the terms and provisions of all applicable laws, ordinances, codes and rules. All interests in such Public Infrastructure financed by the District will be dedicated or otherwise transferred to the City or other governmental entities, as applicable, after acceptance. Additional portions of public infrastructure, as contemplated by the District's formational documents, may be constructed and will be subject to administrative approval by the District before such additional public infrastructure is eligible for funding from future bonds, if any. TWO- 1 SECTION THREE MAP OF THE DISTRICT SHOWING LOCATION OF PUBLIC INFRASTRUCTURE AND AREA TO BE BENEFITED The District rT " fit' . . . 777 ............ CF O, 1.375 Al R * WARNER _ ENUI ' .,;E } 2000 "b4RWV Horz, i i , THREE- 1 Assessment District No. 1 KEY MAP RADIANCE AVENUE " A� !'F1�Rw G3 A..y-Lig6#: ,.w.e ww^ Ay, «®« ...®•PARCEL 1 Zi P 1 r,°y* AifiS ;Ai A 3 � i ET k « AD N . ; s � 3 t PAR EL 99.E # _ P OT 19.E « tT « « 1 « 31 « H T3 �N k , + a U TRAY AVENUE LEGEND, = i «« NOT A X ! or A5505MM Assaswwt WWII OMITS t THREE-2 SECTION FOUR ESTIMATE OF COSTS AND TIMETABLE FOR ACQUISITION OF PUBLIC INFRASTRUCTURE ESTIMATE OF COSTS AND TIMETABLE FOR ACQUISITION OF PUBLIC INFRASTRUCTURE The table in Section Two outlines the cost estimate and completion dates for the construction of the Public Infrastructure. Proceeds of the Bonds, after payment of the costs of issuance,will be used to finance the acquisition of all or a portion of the Public Infrastructure projects listed in Section Two. Listed below is an estimated draw schedule of the proceeds of the Bonds for acquisition of the Public Infrastructure. Estimated Acquisition Public Infrastructure Price Completion Date(a) Funds Draw Date Reverence Road $2,505,673 May 2023 June 2023 Total $2,505,673 (a) Represents the date by which the Public Infrastructure was constructed,which may differ from the date that it was accepted by the City, or other governmental entities, as applicable. FOUR- 1 SECTION FIVE PLAN OF FINANCE PLAN OF FINANCE Below is a financing plan that describes the process for financing a portion of the Public Infrastructure benefiting the property within the Assessment District No. 1. This Plan of Finance is subject to modificationto accommodate market conditions at the time of the actual sale of the Bonds and to the extent necessary to comply with federal and State law. (i) Formation and Authorization. In response to a petition from the Developer, the City Council formed the District on October 5,2021.As contemplated by the District Development Agreement,the District has the authority to issue the Bonds. (ii) Proposed Bond Sale. The estimated debt service schedule for the Bonds is attached in this section as Table One. It is anticipated that the Bonds will be sold and delivered in June 2023.The amount shown on the cover of this Report is a not-to-exceed amount; the actual aggregate principal amount of the Bonds issued may be lower. It is currently estimated that the Bonds will have a final maturity of not more than 25-years and be structured to achieve generally level annual debt service. The Bonds will not be rated by any rating agency. (iii) Per Lot Assessment Amount The per residential lot assessment amount is expected to be no more than$5,000.00 at the time of issuance of the Bonds. The Developer currently expects that at the time of sale of a home to the buyer, this amount will be assumed by the homebuyer and the assessment payments made over time. The $5,000.00 per residential lot assessment results in an annual assessment payment of approximately$425.00 per home,or approximately$35.50 per month, assuming a 25-year maturity and a 6.50%interest rate. The special assessments will be collected on behalf of the District by the Pinal County Treasurer's Office. FIVE- I (iv) Estimated Sources and Uses of Funds. The proceeds of the Bonds will be applied by the District to finance the acquisition of all or a portion of the Public Infrastructure listed in Section Two of this Report. The estimated sources and uses of funds related to the sale of the Bonds is: SOURCES: Principal Amount of Bonds $2,000,000.00 Total $2,000,000.00 USES*: Cost of Public Infrastructure $1,385,615.00 Debt Service Reserve Fund 167,275.00 Capitalized Interest 183,610.00 Estimated Costs of Issuance 263,500.00 Total $2,000,000.00 ESTIMATED COSTS OF ISSUANCE* Underwriter's Compensation $60,000.00 Bond Counsel 100,000.00 Underwriter's Counsel 25,000.00 Financial Advisor 50,000.00 District Engineer 10,000.00 Appraisal Fee 5,000.00 Registrar&Paying Agent 1,000.00 Miscellaneous 12,500.00 Total $263,500.00 (v) Value to Lien Ratio. Included as Appendix 2 is a summary of the appraisal relating to the parcels to be included in Assessment District No. 1, prepared by Schnepf Ellsworth Appraisal Group, LLC on March 22,2023. The appraisal demonstrates a value-to-lien ratio on a per lot basis of at least 21 to 1. A complete copy of the appraisal report is available upon request. (vi) Disclosure of Assessment Payments. A.R.S. Section 32-2181 et seq. requires the disclosure of all property taxes and assessments to be paid by a homeowner in the Arizona Department of Real Estate Subdivision Public Report (the "Public Report"). The Developer must supply each of its homebuyers a Public Report and, prior to any home sale, the homebuyer must acknowledge by signature that they have read and accepted the Public Report. In addition, the Developer will require the homebuyer to sign an additional form that highlights and discloses the additional assessment payments as a result of District financing. *Preliminary, subject to change. FIVE-2 (vii) Operation and Maintenance of Public Infrastructure. All infrastructure financed by the District will be dedicated to and accepted by the City,or other governmental entities, as applicable. The obligations pertaining to the operation and maintenance of the Public Infrastructure have been negotiated between the City, the District and the Developer and are set forth in the various development agreements among the parties. The administrative costs of the District and those costs associated with the operation and maintenance of the Public Infrastructure which are not the obligation of the City will be provided by several sources of funds: the levy of a $0.30 per $100 of net assessed limited property valuation ad valorem tax in the District(the"O&M Tax"),Homeowner's Association fees and Developer contributions, if any. (viii) Other District Information. Shown in the table below is the District's overlapping general obligation bonded indebtedness including a breakdown of each overlapping jurisdiction's applicable general obligation bonded indebtedness, net assessed limited property value and combined tax rate per $100 of net assessed limited property value. OVERLAPPING GENERAL OBLIGATION BONDED INDEBTEDNESS & OVERLAPPING NET ASSESSED LIMITED PROPERTY VALUES-2022/23 Portion Applicable to the District(a) Total Tax General Rates Per$100 Net Assessed Obligation Net Assessed Limited Bonded Limited Property Overlapping Jurisdiction Property Value Debt(b) Property Value(c) State of Arizona $ 78,415,651,028 None None Pinal County 3,126,962,457 None $3.8812 (d) Pinal County Community College District 3,126,962,457 $ 58,205,000 2.0580 Central Arizona Water Conservation District 3,126,962,457 None 0.1400 (d) East Valley Institute of Technology 797,583,121 None 0.0500 Apache Junction Unified School District No.43 504,063,589 13,475,000 0.0000 Superstition Fire&Medical District 489,123,756 2,599,000 3.4850 City of Apache Junction 186,889,095 None 4.1843 Superstition Vistas Community Facilities District No. 1(e) - None 0.0000 (a) Proportion applicable to Assessment District No. I is not available. In future years, proportion applicable to the District will be used instead.For Tax Year 2022,the land within the boundaries of the District was still owned by ASLD and therefore not subject to property taxes and assessed values were not assigned to the District. The County is working on determining the value of the District and at this time,the net assessed limited property value is not available. Because the area that encompasses Assessment District No. I only encompasses the area shown on the maps in Section Three,which is a smaller area than the area of the District,these amounts are greater than what actually overlaps such area.If the assessed value within the District increases at a faster rate FIVE- 3 than the overlapping jurisdictions, the amount of overlapping debt allocated for payment within the District will increase. (b) Includes total stated principal amount of general obligation bonds outstanding. Does not include outstanding principal amounts of certificates of participation or revenue obligations outstanding for the jurisdictions listed above. Also does not include outstanding principal amounts of bonds of various assessment districts or areas as the obligations of these districts are presently being paid from special assessments against property within the various districts. Does not include authorized but unissued general obligation bonds of such jurisdictions which may be issued in the future. Also does not include the obligation of the Central Arizona Water Conservation District ("CAWCD") to the United States Department of the Interior the ("Department of the Interior"), for repayment of certain capital costs for construction of the Central Arizona Project("CAP"), a major reclamation project that has been substantially completed by U.S. Department of the Interior. In April of 2003, the United States and CAWCD agreed to settle litigation over the amount of the construction cost repayment obligation, the amount of the respective obligations for payment of the operation, maintenance and replacement costs and the application of certain revenues and credits against such obligations and costs. Under the agreement, CAWCD's obligation for substantially all of the CAP features that have been constructed so far will be set at $1.646 billion, which amount assumes (but does not mandate) that the United States will acquire a total of 667,724 acre-feet of CAP water for federal purposes. The United States will complete unfinished CAP construction work related to the water supply system and regulatory storage stages of CAP at no additional cost to CAWCD. Of the $1.646 billion repayment obligation, 73% will be interest bearing and the remaining 27% will be non-interest bearing. These percentages have been fixed for the entire 50-year repayment period, which commenced October 1, 1993. CAWCD is a multi-county water conservation district having boundaries coterminous with the exterior boundaries of Arizona's Maricopa, Pima and Pinal Counties. The obligation is evidenced by a master contract between.CAWCD and the Department of the Interior. CAWCD was formed for the express purpose of paying administrative costs and expenses of the CAP and to assist in the repayment to the United States' portion of the CAP capital costs. Repayment will be made from a combination of power revenues, subcontract revenues (i.e., agreements with municipal, industrial and agricultural water users for delivery of CAP water) and a tax levy against all taxable property within CAWCD's boundaries. At the date of this Report, the tax levy is limited to 14 cents per $100 of Net Assessed Limited Property value, of which 14 cents is currently being levied. (See Arizona Revised Statutes, Sections 48-3715 and 48-3715.02) There can be no assurance that such levy limit will not be increased or removed at any time during the life of the contract. (c) The combined tax rate includes the tax rate for debt service payments and the tax rate for all other purposes such as maintenance and operation and capital outlay. (d) The County's tax rate includes the $0.1693 tax rate of the Pinal County Flood Control District, the$0.0965 tax rate of the Pinal County Free Library,the$0.0554 tax rate for the contribution to the Pinal County Fire District Assistance and the$3.5600 tax rate of the County. The net assessed limited property value of the County Flood Control District does not include the personal property assessed valuation within the County. The net assessed limited property value for the CAWCD reflects the assessed valuation located within the County only. The County is mandated to levy a tax annually in support of fire districts in the County. All levies for library districts, hospital districts,fire districts,technology districts,water conservation districts and flood control districts are levied on the net full cash assessed value. (e) Does not include the Bonds. Does not include other special assessment bonds or general obligation bonds expected to be issued by the District in the future. The District initially levied FIVE-4 the Operation and Maintenance Tax in fiscal year 2022-23,but the land within the boundaries of the District was still owned by ASLD and therefore not subject to property taxes. The District anticipates levying the Operation and Maintenance Tax in fiscal year 2023-24 and to collect revenues from the portion of the land within the District boundaries patented by the Developer and no longer owned by ASLD, including, without limitation, the area encompassing the Assessed Lots. The lien for taxes for both debt service and operation and maintenance purposes would be superior and paramount to that for the Special Assessments with respect to the Bonds. Source: Pinal County Assessor Department, the various entities, the Pinal County Finance Department and Property Tax Rates and Assessed Values, Arizona Tax Research Association. FIVE- 5 TABLE ONE ESTIMATED DEBT SERVICE SCHEDULE* Total Estimated Annual Fiscal Debt Service Year Principal Interest (a) Requirements* 2023/24 $ 130,722 $ 130,722 2024/25 $ 40,000 130,000 170,000 2025/26 43,000 127,400 170,400 2026/27 45,000 124,605 169,605 2027/28 48,000 121,680 169,680 2028/29 51,000 118,560 169,560 2029/30 55,000 115,245 170,245 2030/31 58,000 111,670 169,670 2031/32 62,000 107,900 169,900 2032/33 66,000 103,870 169,870 2033/34 70,000 99,580 169,580 2034/35 75,000 95,030 170,030 2035/36 80,000 90,155 170,155 2036/37 85,000 84,955 169,955 2037/38 91,000 79,430 170,430 2038/39 96,000 73,515 169,515 2039/40 103,000 67,275 170,275 2040/41 109,000 60,580 169,580 2041/42 116,000 53,495 169,495 2042/43 124,000 45,955 169,955 2043/44 132,000 37,895 169,895 2044/45 141,000 29,315 170,315 2045/46 150,000 20,150 170,150 2046/47 160,000 10,400 170,400 $ 2,000,000 (a) Interest column reflects total interest payments for each fiscal year;interest will be paid semi-annually on. January 1 and July 1, commencing on January 1,2024*. Interest is estimated at 6.50%. *Preliminary, subject to change. FIVE- 6 Reviewed and accepted by: DEVELOPER: D.R.HORTON,INC.,a Delaware corporation By:_ Name:Brent Davis Its:Division President—Phoenix East FIVE-7 EXHIBIT 1 LEGAL DESCRIPTION FOR ASSESSMENT DISTRICT NO. 1 LEGAL DESCRIPTION OF ASSESSMENT DISTRICT NO. 1 Lots 1 through 105, inclusive, according to the Final Plat for Superstition Vistas—Phase I—Parcel 19.2,recorded as Fee No. 2023-004459,Records of Pinal County,Arizona. Lots 108 through 178,inclusive,according to the Final Plat for Superstition Vistas—Phase 1 A—Parcel 19.1,recorded as Fee No. 2023-004458,Records of Pinal County,Arizona. Lots 216 through 333,inclusive,according to the Final Plat for Superstition Vistas—Phase 1 A—Parcel 19.13,recorded as Fee No. 2023-004461, Records of Pinal County,Arizona. Lots 334 through 439,inclusive,according to the Final Plat for Superstition Vistas—Phase IA—Parcel 19.12,recorded as Fee No. 2023-00460,Records of Pinal County,Arizona. EXHIBIT I- I EXHIBIT 2 SUMMARY OF APPRAISAL FOR ASSESSMENT DISTRICT NO. I An Appraisal Report of the Market Value of the fee simple interest Superstition Vistas Community Facilities District No. 1 Assessment District No. 1 400 lots including 71 lots within Parcel 19.1, 105 lots within Parcel 19.2, 106 lots within Parcel 19.12, and 118 lots within Parcel 19.13. These are within Radiance at Superstition Vistas, Phase 1, CFD - Special Assessment District (SAD) No. 1 located between Ray Road on the south, Solina Avenue on the north, Meridian Road on the west and Reverance Road on the east,Apache Junction, Pinal County,AZ D O b AN r f ,£ I £3 4 1 gg yy� wv,NvauE 8 640.: +{ hwx q RADIANCE Ar SUPERSTIT DN VISTAS PHASE t CFO-SPsc A ASRSRSN EN*DISTRICT(SAD)No.i Prepared For: Superstition Vistas Community Facility District 1 300 E. Superstition Boulevard Apache Junction,AZ 85119 Inspection Date: March 22, 2023 Valuation Date: March 22, 2023 `' xYn Prepared by: Real Estate Appraisers/Consultants - P.O. Box 2829, Mesa,Arizona, 85214 Phone 480.497.1113 E-mail larry@schnepfellsworth.com Job # 23-2580a Copy 1 of 1 Copyright 2023 by Schnepf Ellsworth Appraisal Group LLC ©SCHNEPFELLSWORTHAPPRA/SAL GROUP—23 2580A Executive Summary Type of Property: The subject consists of a vacant single-family residential subdivision site Type of Report: Appraisal Report Class: Single-family residential subdivison land Job No.: 23-2580A Job Name: Superstition Vistas Community Facilities District No. 1 Assessment District No. 1 Location: The subject is located at the northeast corner of Meridian and Ray Roads and is a part of the Radiance at Superstition Vistas Development, Apache Junction, Arizona. Legal Description: A full legal description is included within the report. The legal description was obtained from public records. Statement of Ownership: Documents detailing the ownership retained in the addenda. Form of Ownership: Fee Simple Interest Property Rights Appraised: Market Value of the fee simple interest. Intended User/Intended Use (Function) of the Report: The intended users of this report are the Superstition Vistas Community Facilities District No. 1 (Client and Intended User), the financial advisor Piper Sandler & Co., Superstition Vistas Community Facilities District No. 1 and district counsel Greenberg Traurig LLP. (Intended Users). The intended use (function) of this appraisal will be in conjunction with the sale of tax-exempt assessment bonds, the proceeds of which will be used to finance public infrastructure within the Superstition Vistas Community Facilities District No. 1. Improvements Summary: The subject consists of 4 master-platted parcels consisting of 400 planned lots within the final plat for Superstition Vistas Masterplanned Development. ii ©SCHNEPFELLSWORTHAPPRA/SAL GROUP-23 258oA Assessor's Parcel: Assessor parcel numbers are not yet determined for this parcel. Flood Zone Designation: Zone X (with some in Zone A), Panel number 04021CO200E, Effective date December 4, 2007. Site Area: Parcel 19.1,71 lots, 9.57 acres; Parcel 19.2, 105 lots, 15.90 area acres; Parcel 19.12, 106 lots, 18.47 acres; Parcel 19.13, 118 lots, 13.42 acres; Total 400 lots with a lot area 57.36 acres with an average lot size of 6,247 square feet. Zoning: MPC (Master Planned Community), City of Apache Junction Topography: The property is basically level. No soil reports were provided to the appraisers. Easements: Except for zoning restrictions, no other hazards or nuisances were noted which would adversely affect the subject site. The appraisers assume no conditions exist that would adversely affect title. Nuisance and Hazards: No environmental reports were provided to the appraiser. No adverse environmental conditions were noted within this report. No known nuisances, hazards or environmental problems exist. Highest and Best Use: As Is— Single-family residential Marketing Time: 9 to 12 months Unit Type: The most applicable site unit measurement is price per square foot(vacant land) and price per lot. Date of Inspection: March 22, 2023 Date of Valuation: March 22, 2023 iii ©SCHNEPFELLSWORTHAPPRA/SAL GROUP—23 2580A Valuation Conclusions: As is-95% As is-95% Total As if-Complete As if-Complete Complete Complete Parcel Lots Per lot Parcel Value Per lot Parcel Value SV CFD1, AD1 Parcel 19.1 71 $119,000 $8,449,000 $113,000 $8023,000 SV CFD1, AM Parcel 19.2 105 $121,000 $12,705,000 $115,000 $12,075,000 SV CFD1, AD1 Parcel 19.12 106 $125,000 $13,250,000 $119,000 $12,614,000 SV CFD1, AD1 Parcel 19.13 118 $115,000 $13,570,00 1 $109,000' $1 ,862,000 Aggregate Total** 400 $47,974,000 $45,574,000 Average $119,935 $113,935 **Sum of the individual lot totals iv City of Apache Junction, Arizona 300 E Superstition Boulevard Agenda Item Cover Sheet Apache Junction,AZ 85119 Agenda Item No. 3. File ID: 23-206 Sponsor: Leslie DeReche Agenda Date:5/16/2023 Index: In Control: Superstition Vistas Community Facilit Presentation, discussion and consideration of Resolution No. 2023-001 SVCFD No. 1, a resolution of the district board of Superstition Vistas Community Facilities District No. 1 relating to approval of the feasibility report for the acquisition and financing of certain improvements benefiting the district; approving the prior giving of notice of hearing relating to the feasibility report; declaring the district board's intention to acquire the improvements described in the feasibility report; forming an assessment district; determining that special assessment bonds may be issued to finance the costs and expenses of the improvements; declaring the improvements to be of more than local or ordinary public benefit and that the costs of the improvements will be assessed upon Assessment District No.1; and ordering the public infrastructure projects performed. City of Apache Junction,Arizona Page 1 Printed on 511112023 RESOLUTION NO. 2023-001 SVCFD NO. 1 RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1 APPROVING THE FEASIBILITY REPORT RELATING TO THE ACQUISITION AND FINANCING OF CERTAIN IMPROVEMENTS BENEFITTING THE DISTRICT; APPROVING THE PRIOR GIVING OF NOTICE OF HEARING RELATING TO THE FEASIBILITY REPORT; DECLARING ITS INTENTION TO ACQUIRE CERTAIN IMPROVEMENTS DESCRIBED IN THE FEASIBILITY REPORT; FORMING AN ASSESSMENT DISTRICT; DETERMINING THAT SPECIAL ASSESSMENT BONDS MAY BE ISSUED TO FINANCE THE COSTS AND EXPENSES THEREOF UNDER THE PROVISIONS OF TITLE 48, CHAPTER 4, ARTICLE 6, ARIZONA REVISED STATUTES, AND ALL AMENDMENTS THERETO; DECLARING THE IMPROVEMENTS TO BE OF MORE THAN LOCAL OR ORDINARY PUBLIC BENEFIT AND THAT THE COSTS OF SAID IMPROVEMENTS WILL BE ASSESSED UPON THE ASSESSMENT DISTRICT; AND ORDERING THE PUBLIC INFRASTRUCTURE PROJECTS PERFORMED. WHEREAS, pursuant to Arizona Revised Statutes ("A.R. S. ") § 48-715, as amended, the Board of Directors of the Superstition Vistas Community Facilities District No . 1 has caused the Report (as such term and all other initially capitalized terms are defined herein) to be prepared, relating to certain public infrastructure and public infrastructure purposes provided for in the General Plan of the District and to be financed with the proceeds of the sale of special assessment bonds of the District, which Report includes, among other things, a description of certain public infrastructure and public infrastructure purposes to be acquired and all other information useful to understand the Project, an estimate of the cost to acquire, operate and maintain the Project, an estimated schedule for completion of the Project, a map or description of the area to be benefited by the Project and a plan and expected method for financing the Project, including the nature and timing of the issuance of bonds, if any, a copy of which is on file with the District Clerk; and WHEREAS, pursuant to A.R. S . 48-715, as amended, the District Clerk has, not less than ten (10) days in advance of the date of public hearing on the Report, (i) published a notice of public hearing on the Report and (ii) provided the Report and the notice of public hearing on the Report to the City Council of the City of Apache Junction, Arizona. A public hearing on 686465102 RESOLUTION NO. 2023-001 SVCFD NO. 1 PAGE 1 OF 9 the Report was held on the date hereof, after the aforementioned timely publication of notice thereof as provided by law; and WHEREAS, the District, developer and all property owners and any other persons having an interest in the real property within the proposed boundaries of Assessment District No. 1 have heretofore executed and delivered to the District the Waiver wherein the parties thereto have : (i) waived any and all requirements for notice and time for protests and objections relating to, among other things, the Project and the extent of the Assessment District No . 1; (ii) acknowledged that the District shall levy the Assessments pursuant to the Act; and (iii) waived certain procedural requirements; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1 AS FOLLOWS : SECTION 1 DEFINITIONS In this resolution, the following terms shall have the following meanings : "Act" shall mean Title 48, Chapter 4, Article 6, Arizona Revised Statutes, as amended. "Assessment District No. 1" shall mean the real property contained within the boundaries described in Exhibit A attached hereto. For a more general description, reference is hereby made to the Assessment District Map attached to this resolution as Exhibit B, which map is on file with the Superintendent of Streets and the District Clerk. "Assessment District Map" shall mean the map showing the Assessment District No. 1 and attached hereto as Exhibit B. "Board" shall mean this Board of Directors of the District. "Bond Counsel" shall mean Greenberg Traurig, LLP, and any successor thereto. "Bonds" shall mean the District' s Assessment District No . 1 Special Assessment Bonds, Series 2023, or such other series designation as may be approved by the Board. RESOLUTION NO. 2023-001 SVCFD NO. 1 PAGE 2 OF 9 "Debt Service Reserve" shall mean the debt service reserve fund funded with the proceeds from the sale of the Bonds, authorized pursuant to the Act. "Development Agreement" shall mean the District Development, Financing Participation, Waiver and Intergovernmental Agreement No. 1 dated as of February 22, 2022, by and among the City of Apache Junction, Arizona, the District and D.R. Horton, Inc. ; recorded February 23, 2022 at docket number 2022-021689 in the office of the Pinal County Recorder. "District" shall mean the Superstition Vistas Community Facilities District No. 1 . "District Clerk" shall mean the Clerk of the District. "District Engineer" shall mean, initially, Entellus, Inc. , and, thereafter, such engineer or firm of engineers as appointed by the District Manager. "District Manager" shall mean the City Manager of the City of Apache Junction, Arizona. "Estimate" shall mean the estimate of costs and expenses of the Project described in the Report and this resolution, showing the estimated costs and expenses of acquisition of the Project to be not less than $1, 385, 615 . 00, together with Incidental Expenses ($447, 110 . 00) and a Debt Service Reserve ($167, 275 . 00) , for a total cost not to exceed $2, 000, 000 . 00, all as described on Exhibit C. "Final Plans" shall include all final plans, specifications and contract documents relating to the design of the Project, as have been approved by the City of Apache Junction, Arizona, and on file with the District Clerk. "Incidental Expenses" shall mean compensation paid to the Superintendent of Streets, District Engineer, costs of printing, advertising, posting, the expenses of making, administrating and collecting the assessments, appraiser' s fees, any underwriter' s discount on the Bonds, any financial advisor or placement agent' s fees, any paying agent' s fees, all legal and financial fees, all expenses and costs incurred in establishing the Assessment District No. 1 and incurred in connection with the RESOLUTION NO. 2023-001 SVCFD NO. 1 PAGE 3 OF 9 drafting of the proceedings and in connection with the sale of the Bonds, and all capitalized interest, if any, on the Bonds . "Project" shall mean, collectively, the acquisition of public infrastructure and public infrastructure purposes (as such terms are defined in the Act) described in the Report including, particularly, the acquisition by the District of the public infrastructure described on Exhibit D hereto. "Report" shall mean the Feasibility Report dated May 16, 2023, and on file with the District Clerk, prior to the date and time hereof, discussing the matters required by A.R. S . § 48-715, as amended, as such matters relate to the Project. "Streets" shall mean the streets listed on Exhibit D and such other streets and public rights-of-way as are shown on the Final Plans . "Superintendent of Streets" shall mean, initially, Entellus, Inc. , and, thereafter, such person or firm appointed as Superintendent of Streets by the District Manager. "Waiver" shall mean the Superstition Vistas Community Facilities District No. 1 Waiver and Development Agreement Pertaining to the To Be Formed Assessment District No . 1, by and among the District, D.R. Horton, Inc . and all property owners and any other persons having an interest in the real property within the proposed boundaries of Assessment District No . 1, dated as of March 27, 2023 and recorded March 28, 2023, at docket number 2023-021900 in the office of the Pinal County Recorder. SECTION 2 APPROVAL OF THE FEASIBILITY REPORT Publication of the notice of the public hearing on the Report and providing the Report and notice of the public hearing on the Report to the City Council of the City of Apache Junction, Arizona, are hereby ratified and approved. Based on the review by this Board and the presentation of the Report and testimony presented at the public hearing on the date hereof, the Report is hereby adopted and approved in the form submitted to this Board. RESOLUTION NO. 2023-001 SVCFD NO. 1 PAGE 4 OF 9 SECTION 3 RESOLUTION OF INTENT This Board hereby identifies the public infrastructure of the Project, the areas benefited (all located within the District) , the expected method of financing, including the nature and timing of the issuance of the Bonds, and the system of providing revenues to operate and maintain the Project, all as identified and provided for in the Report, for any and all purposes of the Act. This Board hereby declares its intent to proceed with the financing of the acquisition of the Project in substantially the manner presented in the Report and pursuant to the terms of the Development Agreement. SECTION 4 ORDERING THE PERFORMANCE OF THE PROJECT The public interest and convenience require and it is the intention of this Board to order the Project to be acquired and performed as stated herein and contemplated by the Report and in conformance with the Final Plans . In accordance with A.R. S . § 48-579, this Board hereby finds there are no protests against the Project and there are no objections to the extent of Assessment District No . 1 . By virtue of the authority vested in the Act, and all amendments thereto, this Board hereby orders the acquisition and performance of the Project at a cost not to exceed the Estimate . When applicable, the District Engineer is authorized to modify the Final Plans to show the as-built condition of the Project . The acquisition of any portion of the Project may be performed upon the sale and delivery of the Bonds in an amount sufficient to pay the costs of acquisition. SECTION 5 DETERMINATION OF NEED; FORMATION OF ASSESSMENT DISTRICT NO. 1 The Assessment District No. 1 is hereby formed, consisting of the property described on Exhibit A attached hereto . In the opinion of this Board, the Project is of more than local or ordinary public benefit, the Project principally benefits the land within the Assessment District No. 1, and this Board hereby orders that amounts due or to become due with respect to financing the costs and expenses of the Project, together with the Debt Service Reserve and all Incidental Expenses (the "Assessment") , shall be chargeable upon the respective lots, pieces and parcels of land within the Assessment District No . 1 . The amount of the total Assessment shall not be greater than the RESOLUTION NO. 2023-001 SVCFD NO. 1 PAGE 5 OF 9 product of $5, 000 . 00 times the number of developable residential lots located within the Assessment District No. 1 . SECTION 6 EXCLUSION OF CERTAIN PROPERTY Any public or private street or alley within the boundaries of the Assessment District No. 1 is hereby omitted from the Assessment District No. 1 . Any lot, the legal owner of which on this date is the United States of America, the State of Arizona, a county, a city, a school district or any political subdivision or institution of the State of Arizona or a county, which is included within the Assessment District No. 1 shall be omitted from the assessments hereafter made except as otherwise agreed between the District and such owner. Any acquisition of an assessed parcel by the United States of America, the State of Arizona or other political subdivision of the State of Arizona or charter school after the date hereof shall not extinguish the Assessment with respect thereto, which shall continue in full force and effect until payment in full . SECTION 7 DETERMINATION AND NOTICE OF NECESSITY TO ISSUE BONDS A. This Board finds that the public convenience requires that the Bonds shall be issued to finance the costs and expenses of the Project, the Debt Service Reserve and Incidental Expenses . This Board hereby determines that the Bonds shall be issued in the name of the District payable, however, solely and only out of a special fund collectible from the Assessments levied and assessed upon the lots, pieces and parcels of land within the Assessment District No. 1 in not to exceed twenty- five (25) annual principal installments from the Assessments of twenty-five dollars ($25 . 00) or over. B. The Bonds shall be issued in fully registered form as to principal and interest in the principal amounts of $5, 000 or any integral multiples of $1, 000 in excess thereof (or such other denominations as approved by this Board and set forth in the resolution authorizing the Bonds) . The Bonds shall mature on the first day of July in the years and in amounts to be set by this Board prior to their issuance; provided, however, the Bonds shall mature not later than July 1, 2047 (or if the Bonds are issued after July 1, 2023, the Bonds shall mature not later than July 1, 2048) . RESOLUTION NO. 2023-001 SVCFD NO. 1 PAGE 6 OF 9 C. The Bonds shall bear interest at rate or rates of not to exceed ten percent (10 . 0%) per annum, payable on the first day of January and July of each year, commencing on such date as set forth in the resolution authorizing the Bonds . The yield (as determined pursuant to the regulations of the Internal Revenue Code of 1986, as amended) on all of the Bonds shall not exceed ten percent (10 . 0%) . If the Bonds are directly sold to a bank or financial institution, any default interest rate or taxable interest rate shall not exceed ten percent (10 . 0%) . This Board reserves the right to call the Bonds for prior redemption, in whole or in part, on such terms as may hereafter be established by this Board. D. Principal installments of each Assessment shall be due on the first day of June immediately preceding the maturity date of any Bonds and installments of interest of each Assessment shall be due on the first day of June and December. SECTION 8 ESTABLISHMENT OF GRADE The grades and elevations for the Streets are hereby officially changed to correspond with the grades and elevations shown on the Final Plans . SECTION 9 STATUTORY AUTHORITY The Project and all proceedings pertaining thereto shall be acquired and performed under the provisions of the Act. SECTION 10 DELEGATION OF AUTHORITY The District Engineer and the Superintendent of Streets are hereby authorized to complete the Final Plans, specifications and any contract documents . SECTION 11 RIGHT TO REDUCE SCOPE OF WORK If, because of pending or threatened litigation concerning any one or more parcels subject to the Assessment, (i) the District receives a written opinion of Bond Counsel stating that the Bonds cannot be issued against such parcel or parcels or (ii) the District is unable to obtain any right-of-way necessary for the acquisition of the Project, the District may then cause the acquisition or construction contract to be modified to exclude from the applicable contract some or all of the Project RESOLUTION NO. 2023-001 SVCFD NO. 1 PAGE 7 OF 9 which will benefit the parcel or parcels in question, or which was located in the right-of-way which was not obtained. The filing of a certificate and request that no Bonds be issued against any parcel pursuant to A.R. S . § 48-540 and § 48-597, as amended, may be deemed to be threatened litigation. SECTION 12 RATIFICATION OF PRIOR ACTS All acts of the Chairman of this Board, District Clerk, District Engineer, District Manager, the Superintendent of Streets, and any person acting for such official in furtherance of this Resolution are hereby ratified and confirmed, including the engagement by the District of Schnepf Ellsworth Appraisal Group, LLC, and the execution and delivery of the Waiver . SECTION 13 SEVERABILITY; AMENDMENT; RATIFICATION If any section, paragraph, clause or provision of this Resolution shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this Resolution. SECTION 14 EFFECTIVE DATE This Resolution shall be effective immediately. [Signature Page to Follow. ] RESOLUTION NO. 2023-001 SVCFD NO. 1 PAGE 8 OF 9 PASSED AND ADOPTED BY THE BOARD OF DIRECTORS OF THE SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1, THIS DAY OF MAY, 2023 . SIGNED AND ATTESTED TO THIS DAY OF MAY, 2023 . WALTER "CHIP" WILSON Chairman, Board of Directors ATTEST: JENNIFER PENA District Clerk APPROVED AS TO FORM: RICHARD JOEL STERN District Counsel Attachments : EXHIBIT A - Legal Description of Assessment District No. 1 EXHIBIT B - Maps of the District and Assessment District No. 1 EXHIBIT C - Estimated Costs EXHIBIT D - Description of Project CERTIFICATE I hereby certify that the above and foregoing resolution was duly passed by the Board of Directors of the Superstition Vistas Community Facilities District No. 1 at a regular meeting held on May 16, 2023, and that a quorum was present thereat and that the vote thereon was ayes and nays; did not vote or were absent. District Clerk RESOLUTION NO. 2023-001 SVCFD NO. 1 PAGE 9 OF 9 EXHIBIT A LEGAL DESCRIPTION OF ASSESSMENT DISTRICT NO. 1 Lots 1 through 105, inclusive, according to the Final Plat for Superstition Vistas - Phase 1A - Parcel 19.2, recorded as Fee No. 2023-004459, Records of Pinal County, Arizona. Lots 108 through 178, inclusive, according to the Final Plat for Superstition Vistas - Phase 1A - Parcel 19. 1, recorded as Fee No. 2023-004458, Records of Pinal County, Arizona. Lots 216 through 333, inclusive, according to the Final Plat for Superstition Vistas - Phase 1A - Parcel 19 . 13, recorded as Fee No. 2023-004461, Records of Pinal County, Arizona. Lots 334 through 439, inclusive, according to the Final Plat for Superstition Vistas - Phase 1A - Parcel 19 . 12, recorded as Fee No. 2023-00460, Records of Pinal County, Arizona. RESOLUTION NO. 2023-001 SVCFD NO. 1 EXHIBIT A EXHIBIT B MAPS OF THE DISTRICT AND ASSESSMENT DISTRICT NO. 1 (attached hereto) RESOLUTION NO. 2023-001 SVCFD NO. 1 EXHIBIT B THE DISTRICT V FAL 11" 01)NO. I 1,375 ACRPS N 'L 01 WARNER AVENUE ........................................ z ------------------------------------------------------------------ ------------------------------------------------------------- z 0 7 1000 RESOLUTION NO. 2023-001 SVCFD NO. 1 EXHIBIT B ASSESSMENT DISTRICT NO. 1 KEY MAP S s kk * + ,. ' taLVIT " SHEET 6 �m AD r r O.1 T" v 4 PARC i EL 1 ,171 LOTS r L , s k T w JJ J ' wt u t $ FtM,AVENUE LE_ END- x w ............ 144 LOT MAW RESOLUTION NO. 2023-001 SVCFD NO. 1 EXHIBIT B EXHIBIT C ESTIMATED COSTS Project Costs $1, 385, 615 . 00 Debt Service Reserve 167, 275 . 00 Incidental Expenses 447, 110 . 00 Total Cost $_2_,__0.00 _000_._00. Total Costs shall not exceed the total Assessment of the product of $5, 000 . 00 times the number of developable residential lots located within Assessment District No . 1 . As applicable, the par amount of the Bonds will be rounded down to the nearest $1, 000 integral from the Assessment amount. RESOLUTION NO. 2023-001 SVCFD NO. 1 EXHIBIT C EXHIBIT D DESCRIPTION OF PROJECT The Bonds will finance the acquisition of all or a portion of the Project consisting of public infrastructure and public infrastructure purposes (as such terms are defined in the Act) described in the Report, including particularly the acquisition by the District of the following: DESCRIPTION ESTIMATED COST COMPLETION1 Reverance Road. The work includes $2,505, 673 May 2023 approximately 2,325 lineal feet of two- lane, full street improvements with landscaped median. These improvements include potable water lines, storm drains, dry utilities, concrete curb and gutter, concrete sidewalk, paving, striping, public signage, streetlights, entry monument, landscaping, and irrigation. The roadway consists of two paved driving lanes made up of four and one-half inches (4 1�") of asphaltic concrete over eight inches (8") of aggregate base course. TOTAL: $2,505,673 1 Completion represents the date by which the Developer expected the public infrastructure to be constructed, which may differ from the date that it was or is accepted by the City or other governmental entities, as applicable. RESOLUTION NO. 2023-001 SVCFD NO. 1 EXHIBIT D FEASIBILITY REPORT For The Issuance of Not to Exceed $2,000,000 Principal Amount OF SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1 ASSESSMENT DISTRICT NO. 1 SPECIAL ASSESSMENT BONDS, SERIES 2023 Public Hearing Date: May 16, 2023 TABLE OF CONTENTS SECTION Introduction; Purpose of Feasibility Report; General Description of District ONE Description of Public Infrastructure TWO Map of the District Showing Location of Public Infrastructure and Area to be Benefited THREE Estimate of Costs and Timetable for Acquisition of Public Infrastructure FOUR Plan of Finance FIVE APPENDIX Legal Description for Assessment District No. 1 1 Summary of Appraisal for Assessment District No. 1 2 (Complete copy of appraisal report is available upon request) SECTION ONE INTRODUCTION; PURPOSE OF FEASIBILITY REPORT; GENERAL DESCRIPTION OF DISTRICT INTRODUCTION This Feasibility Report(this"Report")has been prepared for presentation to the Board of Directors of the Superstition Vistas Community Facilities District No. 1 (the "District") in connection with the proposed issuance by the District of its Assessment District No. 1 Special Assessment Bonds, Series 2023 (the "Bonds") in a principal amount of not to exceed $2,000,000, pursuant to the Community Facilities District Act of 1988,Title 48, Chapter 4, Article 6 of Arizona Revised Statutes ("A.R.S."). PURPOSE OF FEASIBILITY REPORT This Report has been prepared for consideration of the feasibility and benefits of the Public Infrastructure(as defined in A.R.S.Section 48-701)to be financed by the Bonds(the"Public Infrastructure") and of the plan for financing the Public Infrastructure in accordance with the provisions of A.R.S.Section 48- 715. Pursuant to A.R.S. Section 48-715, this Report includes (i) a description of the Public Infrastructure to be financed—Section Two; (ii) maps showing, in general, the location of the Public Infrastructure and the area to be benefited by the Public Infrastructure—Section Three; (iii)an estimate of the cost to acquire, operate and maintain the Public Infrastructure and timetable for the acquisition of the Public Infrastructure —Section Four; and(iv)a plan for financing the Public Infrastructure—Section Five. This Report has been prepared for the consideration of the Board of Directors of the District only.It is not intended or anticipated that this Report will be relied upon by other persons,including,but not limited to,purchasers of the Bonds. This Report does not attempt to address the quality of the Bonds as investments or the likelihood of repayment of the Bonds. In preparing this Report,financial advisors,appraisers,counsel, engineers, District staff, City (as defined herein) staff and other experts have been consulted as deemed appropriate. GENERAL DESCRIPTION OF THE DISTRICT The District consists of approximately 1,375 acres of a larger 2,783-acre project within the City of Apache Junction, Arizona (the "City"), where D.R. Horton, Inc., a corporation organized and existing pursuant to the laws of the State of Delaware (the "Developer"), was the successful bidder at the public auction conducted by Arizona State Land Department("ASLD")and pursuant to the terms of the Certificate of Purchase 53-120190 executed November 12,2020,and the Developer is now developing the mixed use, master planned community known as Radiance at Superstition Vistas, on approximately 1,375 acres of a larger 2,783-acre project(the "Project"). The Project is located east of Meridian Road, west of Ironwood Drive, south of Solina (Radiance) Avenue and north of Ray Avenue. Construction on the Project commenced in November 2021, and the first home closings are projected to occur in or about July 2023. Single family residential units represent approximately 700 acres within the Project. Non-residential development comprises approximately 675 acres within the Project and includes churches, government, police and fire stations, schools, civic and commercial uses and common area, and neighborhood open space. The real property comprising Assessment District No. 1 consists of 400 lots (the"Assessed Lots") and is approximately 57.36 acres.The Assessed Lots have been finally established by the approval of final plats by the City, and all of the Assessed Lots will be developed by the Developer. ONE- 1 The following chart characterizes the approximate acreage within the District as well as the acreage within Assessment District No. 1,which is fully within the boundaries of the District. Approximate Approximate Assessment Total District District Acres District No. 1 Lot Area Acres Single Family Residential 700.00 57.36 Non-Residential(a) 675.00 0.00 Total 1,375.00 57.36 (a) Includes churches,police and fire stations, schools, civic and commercial uses and common area, and neighborhood open space. The District was created to assist with financing the acquisition of public infrastructure and public infrastructure purposes, including the Public Infrastructure, within the District. See Section Two for a description of the Public Infrastructure to be financed with a portion of the proceeds of the Bonds. A legal description of Assessment District No. I is included in. Appendix 1. Maps of the District, Assessment District No. 1,including the location,in general, of the Public Infrastructure,are included in Section Three. The proposed acquisition of the Public Infrastructure as defined in this Report is consistent with the approved General Plan for the District. ONE- 2 SECTION TWO DESCRIPTION OF PUBLIC INFRASTRUCTURE DESCRIPTION OF PUBLIC INFRASTRUCTURE The Public Infrastructure subject to this Report has been publicly bid pursuant to State statutes and District guidelines and will be financed by the Bonds and/or subsequent bond issues and other sources, if necessary. It is expected that the Public Infrastructure listed below will be acquired from the Developer with estimated cost and construction timing as noted. Total Certified Paid by Eligible for Funding Estimated Engineer's Prior from Bonds and Completion Acquisition Project Description Cost Cost Bonds Future Bonds Date* 1. Reverence Road $2,505,673.00 $2,505,673.00 $0 $2,505,673.00 May 2023 * Completion represents the date by which the Public Infrastructure was constructed,which may differ by the date that it was accepted by the City or other governmental entities,as applicable. The Public Infrastructure is comprised of the construction of a new roadway within the District known. as Reverence Road.The work includes approximately 2,325 lineal feet of two-lane,full street improvements with landscaped median. These improvements include potable water lines, storm drains, dry utilities, concrete curb and gutter, concrete sidewalk,paving, striping,public signage, streetlights, entry monument, landscaping, and irrigation. The roadway consists of two paved driving lanes made up of four and one-half inches(4�/z") of asphaltic concrete over eight inches(8")of aggregate base course. Proceeds of the Bonds are reasonably expected to be used to finance the acquisition of all or a portion of the Public Infrastructure upon acceptance by the District and the City, or other governmental entities, as applicable, of such Public Infrastructure pursuant to the terms of the District Development, Financing Participation,Waiver and Intergovernmental Agreement(the"District Development Agreement"),recorded on February 23, 2022, at Document No. 2022-021689 in the records of Pinal County, Arizona (the "County"), and the terms and provisions of all applicable laws, ordinances, codes and rules. All interests in such Public Infrastructure financed by the District will be dedicated or otherwise transferred to the City or other governmental entities, as applicable, after acceptance. Additional portions of public infrastructure, as contemplated by the District's formational documents, may be constructed and will be subject to administrative approval by the District before such additional public infrastructure is eligible for funding from future bonds, if any. TWO- 1 SECTION THREE MAP OF THE DISTRICT SHOWING LOCATION OF PUBLIC INFRASTRUCTURE AND AREA TO BE BENEFITED The District rT " fit' . . . 777 ............ CF O, 1.375 Al R * WARNER _ ENUI ' .,;E } 2000 "b4RWV Horz, i i , THREE- 1 Assessment District No. 1 KEY MAP RADIANCE AVENUE " A� !'F1�Rw G3 A..y-Lig6#: ,.w.e ww^ Ay, «®« ...®•PARCEL 1 Zi P 1 r,°y* AifiS ;Ai A 3 � i ET k « AD N . ; s � 3 t PAR EL 99.E # _ P OT 19.E « tT « « 1 « 31 « H T3 �N k , + a U TRAY AVENUE LEGEND, = i «« NOT A X ! or A5505MM Assaswwt WWII OMITS t THREE-2 SECTION FOUR ESTIMATE OF COSTS AND TIMETABLE FOR ACQUISITION OF PUBLIC INFRASTRUCTURE ESTIMATE OF COSTS AND TIMETABLE FOR ACQUISITION OF PUBLIC INFRASTRUCTURE The table in Section Two outlines the cost estimate and completion dates for the construction of the Public Infrastructure. Proceeds of the Bonds, after payment of the costs of issuance,will be used to finance the acquisition of all or a portion of the Public Infrastructure projects listed in Section Two. Listed below is an estimated draw schedule of the proceeds of the Bonds for acquisition of the Public Infrastructure. Estimated Acquisition Public Infrastructure Price Completion Date(a) Funds Draw Date Reverence Road $2,505,673 May 2023 June 2023 Total $2,505,673 (a) Represents the date by which the Public Infrastructure was constructed,which may differ from the date that it was accepted by the City, or other governmental entities, as applicable. FOUR- 1 SECTION FIVE PLAN OF FINANCE PLAN OF FINANCE Below is a financing plan that describes the process for financing a portion of the Public Infrastructure benefiting the property within the Assessment District No. 1. This Plan of Finance is subject to modificationto accommodate market conditions at the time of the actual sale of the Bonds and to the extent necessary to comply with federal and State law. (i) Formation and Authorization. In response to a petition from the Developer, the City Council formed the District on October 5,2021.As contemplated by the District Development Agreement,the District has the authority to issue the Bonds. (ii) Proposed Bond Sale. The estimated debt service schedule for the Bonds is attached in this section as Table One. It is anticipated that the Bonds will be sold and delivered in June 2023.The amount shown on the cover of this Report is a not-to-exceed amount; the actual aggregate principal amount of the Bonds issued may be lower. It is currently estimated that the Bonds will have a final maturity of not more than 25-years and be structured to achieve generally level annual debt service. The Bonds will not be rated by any rating agency. (iii) Per Lot Assessment Amount The per residential lot assessment amount is expected to be no more than$5,000.00 at the time of issuance of the Bonds. The Developer currently expects that at the time of sale of a home to the buyer, this amount will be assumed by the homebuyer and the assessment payments made over time. The $5,000.00 per residential lot assessment results in an annual assessment payment of approximately$425.00 per home,or approximately$35.50 per month, assuming a 25-year maturity and a 6.50%interest rate. The special assessments will be collected on behalf of the District by the Pinal County Treasurer's Office. FIVE- I (iv) Estimated Sources and Uses of Funds. The proceeds of the Bonds will be applied by the District to finance the acquisition of all or a portion of the Public Infrastructure listed in Section Two of this Report. The estimated sources and uses of funds related to the sale of the Bonds is: SOURCES: Principal Amount of Bonds $2,000,000.00 Total $2,000,000.00 USES*: Cost of Public Infrastructure $1,385,615.00 Debt Service Reserve Fund 167,275.00 Capitalized Interest 183,610.00 Estimated Costs of Issuance 263,500.00 Total $2,000,000.00 ESTIMATED COSTS OF ISSUANCE* Underwriter's Compensation $60,000.00 Bond Counsel 100,000.00 Underwriter's Counsel 25,000.00 Financial Advisor 50,000.00 District Engineer 10,000.00 Appraisal Fee 5,000.00 Registrar&Paying Agent 1,000.00 Miscellaneous 12,500.00 Total $263,500.00 (v) Value to Lien Ratio. Included as Appendix 2 is a summary of the appraisal relating to the parcels to be included in Assessment District No. 1, prepared by Schnepf Ellsworth Appraisal Group, LLC on March 22,2023. The appraisal demonstrates a value-to-lien ratio on a per lot basis of at least 21 to 1. A complete copy of the appraisal report is available upon request. (vi) Disclosure of Assessment Payments. A.R.S. Section 32-2181 et seq. requires the disclosure of all property taxes and assessments to be paid by a homeowner in the Arizona Department of Real Estate Subdivision Public Report (the "Public Report"). The Developer must supply each of its homebuyers a Public Report and, prior to any home sale, the homebuyer must acknowledge by signature that they have read and accepted the Public Report. In addition, the Developer will require the homebuyer to sign an additional form that highlights and discloses the additional assessment payments as a result of District financing. *Preliminary, subject to change. FIVE-2 (vii) Operation and Maintenance of Public Infrastructure. All infrastructure financed by the District will be dedicated to and accepted by the City,or other governmental entities, as applicable. The obligations pertaining to the operation and maintenance of the Public Infrastructure have been negotiated between the City, the District and the Developer and are set forth in the various development agreements among the parties. The administrative costs of the District and those costs associated with the operation and maintenance of the Public Infrastructure which are not the obligation of the City will be provided by several sources of funds: the levy of a $0.30 per $100 of net assessed limited property valuation ad valorem tax in the District(the"O&M Tax"),Homeowner's Association fees and Developer contributions, if any. (viii) Other District Information. Shown in the table below is the District's overlapping general obligation bonded indebtedness including a breakdown of each overlapping jurisdiction's applicable general obligation bonded indebtedness, net assessed limited property value and combined tax rate per $100 of net assessed limited property value. OVERLAPPING GENERAL OBLIGATION BONDED INDEBTEDNESS & OVERLAPPING NET ASSESSED LIMITED PROPERTY VALUES-2022/23 Portion Applicable to the District(a) Total Tax General Rates Per$100 Net Assessed Obligation Net Assessed Limited Bonded Limited Property Overlapping Jurisdiction Property Value Debt(b) Property Value(c) State of Arizona $ 78,415,651,028 None None Pinal County 3,126,962,457 None $3.8812 (d) Pinal County Community College District 3,126,962,457 $ 58,205,000 2.0580 Central Arizona Water Conservation District 3,126,962,457 None 0.1400 (d) East Valley Institute of Technology 797,583,121 None 0.0500 Apache Junction Unified School District No.43 504,063,589 13,475,000 0.0000 Superstition Fire&Medical District 489,123,756 2,599,000 3.4850 City of Apache Junction 186,889,095 None 4.1843 Superstition Vistas Community Facilities District No. 1(e) - None 0.0000 (a) Proportion applicable to Assessment District No. I is not available. In future years, proportion applicable to the District will be used instead.For Tax Year 2022,the land within the boundaries of the District was still owned by ASLD and therefore not subject to property taxes and assessed values were not assigned to the District. The County is working on determining the value of the District and at this time,the net assessed limited property value is not available. Because the area that encompasses Assessment District No. I only encompasses the area shown on the maps in Section Three,which is a smaller area than the area of the District,these amounts are greater than what actually overlaps such area.If the assessed value within the District increases at a faster rate FIVE- 3 than the overlapping jurisdictions, the amount of overlapping debt allocated for payment within the District will increase. (b) Includes total stated principal amount of general obligation bonds outstanding. Does not include outstanding principal amounts of certificates of participation or revenue obligations outstanding for the jurisdictions listed above. Also does not include outstanding principal amounts of bonds of various assessment districts or areas as the obligations of these districts are presently being paid from special assessments against property within the various districts. Does not include authorized but unissued general obligation bonds of such jurisdictions which may be issued in the future. Also does not include the obligation of the Central Arizona Water Conservation District ("CAWCD") to the United States Department of the Interior the ("Department of the Interior"), for repayment of certain capital costs for construction of the Central Arizona Project("CAP"), a major reclamation project that has been substantially completed by U.S. Department of the Interior. In April of 2003, the United States and CAWCD agreed to settle litigation over the amount of the construction cost repayment obligation, the amount of the respective obligations for payment of the operation, maintenance and replacement costs and the application of certain revenues and credits against such obligations and costs. Under the agreement, CAWCD's obligation for substantially all of the CAP features that have been constructed so far will be set at $1.646 billion, which amount assumes (but does not mandate) that the United States will acquire a total of 667,724 acre-feet of CAP water for federal purposes. The United States will complete unfinished CAP construction work related to the water supply system and regulatory storage stages of CAP at no additional cost to CAWCD. Of the $1.646 billion repayment obligation, 73% will be interest bearing and the remaining 27% will be non-interest bearing. These percentages have been fixed for the entire 50-year repayment period, which commenced October 1, 1993. CAWCD is a multi-county water conservation district having boundaries coterminous with the exterior boundaries of Arizona's Maricopa, Pima and Pinal Counties. The obligation is evidenced by a master contract between.CAWCD and the Department of the Interior. CAWCD was formed for the express purpose of paying administrative costs and expenses of the CAP and to assist in the repayment to the United States' portion of the CAP capital costs. Repayment will be made from a combination of power revenues, subcontract revenues (i.e., agreements with municipal, industrial and agricultural water users for delivery of CAP water) and a tax levy against all taxable property within CAWCD's boundaries. At the date of this Report, the tax levy is limited to 14 cents per $100 of Net Assessed Limited Property value, of which 14 cents is currently being levied. (See Arizona Revised Statutes, Sections 48-3715 and 48-3715.02) There can be no assurance that such levy limit will not be increased or removed at any time during the life of the contract. (c) The combined tax rate includes the tax rate for debt service payments and the tax rate for all other purposes such as maintenance and operation and capital outlay. (d) The County's tax rate includes the $0.1693 tax rate of the Pinal County Flood Control District, the$0.0965 tax rate of the Pinal County Free Library,the$0.0554 tax rate for the contribution to the Pinal County Fire District Assistance and the$3.5600 tax rate of the County. The net assessed limited property value of the County Flood Control District does not include the personal property assessed valuation within the County. The net assessed limited property value for the CAWCD reflects the assessed valuation located within the County only. The County is mandated to levy a tax annually in support of fire districts in the County. All levies for library districts, hospital districts,fire districts,technology districts,water conservation districts and flood control districts are levied on the net full cash assessed value. (e) Does not include the Bonds. Does not include other special assessment bonds or general obligation bonds expected to be issued by the District in the future. The District initially levied FIVE-4 the Operation and Maintenance Tax in fiscal year 2022-23,but the land within the boundaries of the District was still owned by ASLD and therefore not subject to property taxes. The District anticipates levying the Operation and Maintenance Tax in fiscal year 2023-24 and to collect revenues from the portion of the land within the District boundaries patented by the Developer and no longer owned by ASLD, including, without limitation, the area encompassing the Assessed Lots. The lien for taxes for both debt service and operation and maintenance purposes would be superior and paramount to that for the Special Assessments with respect to the Bonds. Source: Pinal County Assessor Department, the various entities, the Pinal County Finance Department and Property Tax Rates and Assessed Values, Arizona Tax Research Association. FIVE- 5 TABLE ONE ESTIMATED DEBT SERVICE SCHEDULE* Total Estimated Annual Fiscal Debt Service Year Principal Interest (a) Requirements* 2023/24 $ 130,722 $ 130,722 2024/25 $ 40,000 130,000 170,000 2025/26 43,000 127,400 170,400 2026/27 45,000 124,605 169,605 2027/28 48,000 121,680 169,680 2028/29 51,000 118,560 169,560 2029/30 55,000 115,245 170,245 2030/31 58,000 111,670 169,670 2031/32 62,000 107,900 169,900 2032/33 66,000 103,870 169,870 2033/34 70,000 99,580 169,580 2034/35 75,000 95,030 170,030 2035/36 80,000 90,155 170,155 2036/37 85,000 84,955 169,955 2037/38 91,000 79,430 170,430 2038/39 96,000 73,515 169,515 2039/40 103,000 67,275 170,275 2040/41 109,000 60,580 169,580 2041/42 116,000 53,495 169,495 2042/43 124,000 45,955 169,955 2043/44 132,000 37,895 169,895 2044/45 141,000 29,315 170,315 2045/46 150,000 20,150 170,150 2046/47 160,000 10,400 170,400 $ 2,000,000 (a) Interest column reflects total interest payments for each fiscal year;interest will be paid semi-annually on. January 1 and July 1, commencing on January 1,2024*. Interest is estimated at 6.50%. *Preliminary, subject to change. FIVE- 6 Reviewed and accepted by: DEVELOPER: D.R.HORTON,INC.,a Delaware corporation By:_ Name:Brent Davis Its:Division President—Phoenix East FIVE-7 EXHIBIT 1 LEGAL DESCRIPTION FOR ASSESSMENT DISTRICT NO. 1 LEGAL DESCRIPTION OF ASSESSMENT DISTRICT NO. 1 Lots 1 through 105, inclusive, according to the Final Plat for Superstition Vistas—Phase I—Parcel 19.2,recorded as Fee No. 2023-004459,Records of Pinal County,Arizona. Lots 108 through 178,inclusive,according to the Final Plat for Superstition Vistas—Phase 1 A—Parcel 19.1,recorded as Fee No. 2023-004458,Records of Pinal County,Arizona. Lots 216 through 333,inclusive,according to the Final Plat for Superstition Vistas—Phase 1 A—Parcel 19.13,recorded as Fee No. 2023-004461, Records of Pinal County,Arizona. Lots 334 through 439,inclusive,according to the Final Plat for Superstition Vistas—Phase IA—Parcel 19.12,recorded as Fee No. 2023-00460,Records of Pinal County,Arizona. EXHIBIT I- I EXHIBIT 2 SUMMARY OF APPRAISAL FOR ASSESSMENT DISTRICT NO. I An Appraisal Report of the Market Value of the fee simple interest Superstition Vistas Community Facilities District No. 1 Assessment District No. 1 400 lots including 71 lots within Parcel 19.1, 105 lots within Parcel 19.2, 106 lots within Parcel 19.12, and 118 lots within Parcel 19.13. These are within Radiance at Superstition Vistas, Phase 1, CFD - Special Assessment District (SAD) No. 1 located between Ray Road on the south, Solina Avenue on the north, Meridian Road on the west and Reverance Road on the east,Apache Junction, Pinal County,AZ D O b AN r f ,£ I £3 4 1 gg yy� wv,NvauE 8 640.: +{ hwx q RADIANCE Ar SUPERSTIT DN VISTAS PHASE t CFO-SPsc A ASRSRSN EN*DISTRICT(SAD)No.i Prepared For: Superstition Vistas Community Facility District 1 300 E. Superstition Boulevard Apache Junction,AZ 85119 Inspection Date: March 22, 2023 Valuation Date: March 22, 2023 `' xYn Prepared by: Real Estate Appraisers/Consultants - P.O. Box 2829, Mesa,Arizona, 85214 Phone 480.497.1113 E-mail larry@schnepfellsworth.com Job # 23-2580a Copy 1 of 1 Copyright 2023 by Schnepf Ellsworth Appraisal Group LLC ©SCHNEPFELLSWORTHAPPRA/SAL GROUP—23 2580A Executive Summary Type of Property: The subject consists of a vacant single-family residential subdivision site Type of Report: Appraisal Report Class: Single-family residential subdivison land Job No.: 23-2580A Job Name: Superstition Vistas Community Facilities District No. 1 Assessment District No. 1 Location: The subject is located at the northeast corner of Meridian and Ray Roads and is a part of the Radiance at Superstition Vistas Development, Apache Junction, Arizona. Legal Description: A full legal description is included within the report. The legal description was obtained from public records. Statement of Ownership: Documents detailing the ownership retained in the addenda. Form of Ownership: Fee Simple Interest Property Rights Appraised: Market Value of the fee simple interest. Intended User/Intended Use (Function) of the Report: The intended users of this report are the Superstition Vistas Community Facilities District No. 1 (Client and Intended User), the financial advisor Piper Sandler & Co., Superstition Vistas Community Facilities District No. 1 and district counsel Greenberg Traurig LLP. (Intended Users). The intended use (function) of this appraisal will be in conjunction with the sale of tax-exempt assessment bonds, the proceeds of which will be used to finance public infrastructure within the Superstition Vistas Community Facilities District No. 1. Improvements Summary: The subject consists of 4 master-platted parcels consisting of 400 planned lots within the final plat for Superstition Vistas Masterplanned Development. ii ©SCHNEPFELLSWORTHAPPRA/SAL GROUP-23 258oA Assessor's Parcel: Assessor parcel numbers are not yet determined for this parcel. Flood Zone Designation: Zone X (with some in Zone A), Panel number 04021CO200E, Effective date December 4, 2007. Site Area: Parcel 19.1,71 lots, 9.57 acres; Parcel 19.2, 105 lots, 15.90 area acres; Parcel 19.12, 106 lots, 18.47 acres; Parcel 19.13, 118 lots, 13.42 acres; Total 400 lots with a lot area 57.36 acres with an average lot size of 6,247 square feet. Zoning: MPC (Master Planned Community), City of Apache Junction Topography: The property is basically level. No soil reports were provided to the appraisers. Easements: Except for zoning restrictions, no other hazards or nuisances were noted which would adversely affect the subject site. The appraisers assume no conditions exist that would adversely affect title. Nuisance and Hazards: No environmental reports were provided to the appraiser. No adverse environmental conditions were noted within this report. No known nuisances, hazards or environmental problems exist. Highest and Best Use: As Is— Single-family residential Marketing Time: 9 to 12 months Unit Type: The most applicable site unit measurement is price per square foot(vacant land) and price per lot. Date of Inspection: March 22, 2023 Date of Valuation: March 22, 2023 iii ©SCHNEPFELLSWORTHAPPRA/SAL GROUP—23 2580A Valuation Conclusions: As is-95% As is-95% Total As if-Complete As if-Complete Complete Complete Parcel Lots Per lot Parcel Value Per lot Parcel Value SV CFD1, AD1 Parcel 19.1 71 $119,000 $8,449,000 $113,000 $8023,000 SV CFD1, AM Parcel 19.2 105 $121,000 $12,705,000 $115,000 $12,075,000 SV CFD1, AD1 Parcel 19.12 106 $125,000 $13,250,000 $119,000 $12,614,000 SV CFD1, AD1 Parcel 19.13 118 $115,000 $13,570,00 1 $109,000' $1 ,862,000 Aggregate Total** 400 $47,974,000 $45,574,000 Average $119,935 $113,935 **Sum of the individual lot totals iv Q�riA L :if , -' OFFICIAL RECORDS OF � + PINAL COUNTY RECORDER .- Dana Lewis •• Electronically Recorded DATE/TIME: 03/28/2023 1404 FEE: $30.00 PAGES: 21 FEE NUMBER: 2023-021900 WHEN RECORDED RETURN TO: Greenberg Traurig, LLP Attn: Zachary D. Sakas 2375 E. Camelback Road Suite 800 Phoenix, Arizona 85016 SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1 WAIVER AND DEVELOPMENT AGREEMENT PERTAINING TO THE TO BE FORMED ASSESSMENT DISTRICT NO. 1 This Superstition Vistas Community Facilities District No. 1 Waiver and Development Agreement Pertaining to the To Be Formed Assessment District No. 1, dated as of March 27, 2023 (this "Agreement"), by and among the Superstition Vistas Community Facilities District No. 1 (the "District"), and D.R. Horton, Inc., a Delaware corporation (the "Developer"), and, if applicable, other owners executing this Agreement prior to formation of Assessment District No. 1 (as defined herein). WHEREAS, the City of Apache Junction, Arizona, an Arizona municipal corporation (the "City"), and the Developer are parties to that certain Procedural Pre-Annexation Agreement recorded August 16, 2021 as Instrument No. 2021-102467 in the Official Records of Pinal County, as the same may be amended from time to time (the "Development Agreement"), in connection with the planned community development project on the land subject thereto known as "Superstition Vistas" (the"Project"); and WHEREAS, pursuant to the District Development, Financing Participation, Waiver and Intergovernmental Agreement by and among the City, the District and the Developer, dated as of February 22, 2022 and recorded February 23, 2022 as Instrument No. 2022-021689 in the Official Records of Pinal County (the "District Agreement"), the Developer intends to request the District to form assessment district number 1 (the "Assessment District No. I") comprised of the real property legally described on Exhibit A attached hereto (the "Property") in order to provide for certain public infrastructure improvements plus all costs connected with the public infrastructure purposes related thereto (as defined in Title 48, Chapter 4, Article 6, Arizona Revised Statutes, as amended (the "Act")), such public infrastructure improvements and public infrastructure purposes to be located on or off the Property; and WHEREAS, the Developer, and (if applicable) other owners executing this Agreement, and all persons hereafter taking an interest in the Property, or any portion thereof, shall be bound by the terms, waivers and agreements as set forth, and to the extent provided, in this Agreement and shall be bound by the Assessments (as defined herein) recorded against the Property; and WHEREAS, subject to the terms of the District Agreement, the proposed public infrastructure improvements and public infrastructure purposes to be provided by the Assessment District No. 1 shall consist of: A. Acquisition, installation and/or construction of all or a portion of the public infrastructure (as such term is defined in the Act) described on Exhibit B attached hereto and all incidental improvements related thereto; B. All engineering, legal, financial and incidental costs and expenses incurred in completing the acquisition, installation and/or construction of the public infrastructure described in paragraph A above and the costs and expenses incurred in connection with the levy of the Assessments and the issuance and sale of the Assessment District No. 1 bonds; C. Capitalized interest on such Assessment District No. 1 bonds, if any, for a period not to exceed the period permitted by the Act; and D. A debt service reserve fund created for such Assessment District No. 1 bonds. Collectively, the public infrastructure improvements and public infrastructure purposes described in paragraphs A through D above and the costs and expenses thereof shall hereinafter be referred to as the "Work"; and WHEREAS, persons having or hereafter acquiring only a lienholder's interest or other security interest in the Property ("Lienholder" or "Lienholders", as applicable) consent to these terms and provisions of the District Agreement and this Agreement and the recording thereof and acknowledge the levying of the Assessments against the Property; NOW, THEREFORE, the District, the Developer, and all future owners or holders of any interest in any portion of the Property hereby agree as follows: 1. Development Agreement and Agreement Allocating Assessments. This Agreement is a "development agreement" within the meaning of Arizona Revised Statutes ("A.R.S.") § 9-500.05 and the written agreement allocating the Assessments is authorized pursuant to A.R.S. § 48-721, as amended. 2. Reliance on Agreement. This Agreement does not create a binding commitment on the part of the District to actually form the Assessment District No. 1, or, if formed, of the District to sell or deliver such Assessment District No. 1 bonds or construct, 2 install or acquire any or all of the Work, or if it does construct, install or acquire any of the Work, to construct, install or acquire it pursuant to any existing proposals. However, the District and the Developer, in going forward with the Work, are doing so in reliance upon this Agreement to have the Property included within the to-be-formed Assessment District No. 1 and assessed for the costs thereof. 3. Review and Approval of the Boundaries and Scope of Work; AcknowledIzement of Assessment. a. The Developer, as the sole owner of all the Property, has reviewed or had the opportunity and right to review the boundaries of the Assessment District No. 1, the preliminary plans and specifications detailing the Work and the current estimate of the costs of the Work. The Developer agrees the costs of the Work shall be spread among the parcels (residential lots) comprising the Property within the proposed Assessment District No. 1 utilizing a methodology determined by the District Engineer (the "Engineer") based on the expected benefit to the residential lots to be developed on the Property, provided the Engineer's estimate of the costs of Work (the "Engineer's Estimate") will not exceed $2,000,000.00 and such Assessment amount shall be allocated and levied to each developable parcel (residential lot) within the Assessment District No. 1 in an amount not to exceed $5,000.00 per parcel (residential lot). b. The Developer and all future owners or holders of any interest in any portion of the Property expressly consent to the following: (i)the District may take all required actions as necessary to form the Assessment District No. 1 in accordance with the provisions of the District Agreement and the Act; and (ii)the District may incur costs and expenses necessary to complete or acquire the Work. C. Furthermore, the Developer and all future owners or holders of any interest in any portion of the Property acknowledge that the District shall levy and collect an assessment on the Property sufficient to pay all costs and expenses of the Work (including Work benefitting the Property in the proposed Assessment District No. 1, which Work may be constructed, installed or performed prior to or after the execution hereof) and the costs of levying the assessment and the issuance of the Assessment District No. 1 bonds, but not in excess of the Engineer's Estimate prepared in accordance with the applicable requirements of the District and the Act (the "Assessments"). 4. No Protest, Objection or Request for Hearings. The Developer and all future owners or holders of any interest in any portion of the Property agree to allow the formation of the proposed Assessment District No. 1 and to acknowledge that the District shall take all steps necessary to levy, confirm and record Assessments against the Property and to issue such Assessment District No. 1 bonds supported by the Assessments. The Developer and all future owners of any portion of the Property acknowledge and agree, to the fullest extent permitted by applicable law, that pursuant to A.R.S. § 9-500.05, the provisions of A.R.S. § 32- 2181 do not apply and that pursuant to this Agreement the parties waive their right to appear before the Board of Directors of the District (the "District Board") on any hearing required at or prior to the confirmation of the Assessments and waive their right to: (a) protest and object to the 3 extent of the Assessment District No. 1 pursuant to A.R.S. §§ 48-579 and 48-580; (b) protest the award of contract pursuant to A.R.S. § 48-584; and (c) object to the Assessments on procedural grounds, or as to the legality of the Assessments, pursuant to A.R.S. § 48-590. 5. Waiver of Procedural Deficiencies and Irregularities. The Developer and all future owners or holders of any interest in any portion of the Property, with full knowledge of the provisions of Title 48, Chapter 4, Articles 2 and 6, Arizona Revised Statutes, as amended, and their rights thereunder (or having obtained counsel to advise them of the provisions and their rights), expressly waive any and all irregularities, illegalities or deficiencies which may now or hereafter exist in the acts or proceedings resulting in the formation of the District, the formation of the Assessment District No. 1, the adoption of the resolution of intention and the resolution ordering the Work, the levying of the Assessments against the Property and the issuance of Assessment District No. 1 bonds secured by the Assessments levied against the Property. 6. Waiver. The Developer and all future owners or holders of any interest in any portion of the Property, with full knowledge of the provisions and their rights under the provisions of law hereafter referenced, expressly waive the following: a. any defect in the proceedings establishing the District, as required by A.R.S. § 48-702 through § 48-708, inclusive, and agree that, to the extent of any defect, this Agreement shall constitute the petitions required by law to form and establish the District without conducting an election; b. the providing of any and all notices and response time periods related to such notices provided by A.R.S. § 48-576 et seq., as amended, including but not limited to the following: i. mailing, posting and publication, as applicable, of any notice required in connection with: (A) the adoption of the resolution of intention, (B)the notice of proposed improvements, (C) the adoption of the resolution ordering the Work, (D) notice of passage of the resolution ordering the Work, (E) notice of award of contract and (F) any other steps necessary in connection with the Assessment District No. 1 or the Work; and ii. any and all notices pertaining to the levying of the Assessments, including notice of any hearing on the Assessments; C. any and all objections and protests to the extent of the Assessment District No. 1; d. any and all objections to the adoption and approval by the District of the Assessment District No. 1 including, without limitation, the plans and specifications, the Engineer's Estimate and the assessment diagram, all of which provide for and effectuate the completion of the Work; 4 e. any and all protest rights against the Work and objections to the awarding of one or more acquisition or construction contracts for the Work; f. any and all claims or defenses, known or unknown, they may now or subsequently have against the Assessments or the Assessment District No. 1 bonds; and g. all demands for cash payment of the Assessments. Nothing contained in this Agreement shall be construed as a waiver by any party to this Agreement of any notice required by A.R.S. §§ 48-600 or 48-601 of delinquent assessment installments. 7. Work as More Than Local and Ordinary Benefit. The Developer and all future owners or holders of any interest in any portion of the Property agree that the Work is of more than local or ordinary public benefit and that the Work constitutes public infrastructure improvements and public infrastructure purposes and that the Property which is subject to the Assessments receives the primary benefit from the Work in an amount not less than the Engineer's Estimate of the costs thereof, and not less than the portion of the Assessment levied against each parcel or lot comprising the Property. 8. Public Bidding. The public bidding requirements set forth in A.R.S. §§ 48-581 and 48-584 have been or will be complied with by the Developer on behalf of the District with respect to each contract comprising the Work. 9. Acquisition of the Work. The District may, immediately upon issuance of the Assessment District No. 1 bonds, acquire all or part of the Work. 10. Developer's Acknowledgement of Assessment. The Developer and all future owners or holders of any interest in any portion of the Property acknowledge the District shall levy the Assessments in an amount not greater than the Engineer's Estimate against all developable parcels located within the boundaries of Assessment District No. 1, as provided in Section 3.a, not in excess of $5,000.00 per developable parcel (residential lot); and that such Assessments shall be collected and foreclosed in accordance with A.R.S. § 48-601 et seq., as amended, and in accordance with any other documents executed and delivered in connection with the delivery of the Assessment District No. 1 bonds. 11. Recording and Validity of Assessments. The Developer and all future owners or holders of any interest in any portion of the Property acknowledge the District shall record the Assessments against the Property and acknowledge such recording of the Assessments shall constitute valid and enforceable first liens against the respective parcels comprising the Property as shown and the amounts set forth in the Assessments, subject only to the lien for ad valorem taxes and prior special assessments. 12. Assessments to Go to Bond. Except as the Developer, or any future owner or holder of any interest in any portion of the Property, otherwise notifies the District in writing prior to the recording of the Assessments of their intent to pay all or part of their 5 Assessment in cash, Assessments will not be paid in cash. With respect to Assessments not paid in cash, the Developer requests, and all future owners or holders of any interest in any portion of the Property agree, that a certified list of unpaid Assessments be filed as soon as possible after the recording of the Assessments and that Assessment District No. 1 bonds amortizing the payment of the Assessments over not less than fifteen (15) years be issued and sold as soon as possible. 13. No Reduction of Obligation of Developer. The inability of the District to assess all or any portion of the costs of the Work shall not reduce the obligation of the Developer, and all future owners or holders of any interest in any portion of the Property, so long as the Developer or future owner or holder of any interest in any portion of the Property own all or part of any parcel comprising the Property, to pay the Assessment levied against such portion of the Property, and provided that the aggregate costs of the Work are not reduced. 14. Waiver of Collateral Document Provisions. The Developer and all future owners or holders of any interest in any portion of the Property expressly waive any and all provisions of any collateral security instruments relating to the Property which prohibit the formation of the Assessment District No. 1, completion of the Work, and levying and recording of the Assessments against the Property. 15. Dedication of Property Needed to Perform the Work. The Developer and all future owners or holders of any interest in any portion of the Property consent to the dedication, without cost, of the rights-of-way and easements and other property, as required pursuant to the applicable Final Plats listed on Exhibit A, the Map of Dedication and those certain final approved infrastructure improvement plans for the Work, each as described on Exhibit C attached hereto. The Developer and all future owners or holders of any interest in any portion of the Property agree to cooperate in effectuating any required dedication, including execution of any required document. 16. Indemnification Under Securities Act. a. The Developer hereby agrees to indemnify and hold the District and the City and each director, council member, officer, agent, legal counsel, independent contractor or employee thereof and each person, if any, who controls the District, and the City, its officers, employees and agents, within the meaning of the Securities Act of 1933, as amended (the "Securities Act") (together with the parties described in the last sentence of this Section 16.a, collectively the "Indemnified Persons") harmless for, from and against any and all losses, claims, damages or liabilities, including reasonable attorneys' fees arising from any challenge to the formation, activities or administration of the District or the Assessment District No. 1, or any losses, claims, damages or liabilities, including reasonable attorneys' fees related to which any of the Indemnified Persons may become subject, under any statute or regulation at law or in equity or otherwise, insofar as such losses, claims, damages or liabilities, including attorneys' fees (or actions in respect thereof) arise out of or are based upon any untrue statement or any alleged untrue statement or material fact set forth in any official statement applicable to the Assessment District No. 1 bonds or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or 6 which is necessary to make the statements therein, in light of the circumstances in which they were made, not misleading in any material respect. For purposes of this Section 16, the Indemnified Persons further includes Superstition Mountains Community Facilities District No. 1 and Water Utilities Community Facilities District (City of Apache Junction, Arizona) and each director, officer, agent, legal counsel, independent contractor or employee thereof and each person, if any, who controls such respective district within the meaning of the Securities Act, but only in connection with any public infrastructure (as defined in the Act) accepted by Superstition Mountains Community Facilities District No. 1 or Water Utilities Community Facilities District (City of Apache Junction, Arizona), respectively. b. Section 16.a hereof shall, however, not be applicable to any of the following: (1) to the extent matters involve any gross negligence or willful misconduct of any Indemnified Person, or (2) matters arising from or involving any material breach of this Agreement by the District or any other Indemnified Person. C. Sections 8.1(b)(2) and 8.1(c) of the District Agreement are hereby incorporated by reference for purposes of available insurance, if any, to the Indemnified Persons, and the provision of notice by the Indemnified Persons to the Developer in connection with indemnification sought from the Developer, respectively. d. This Section 16 shall survive the termination hereof. 17. General Indemnification of District and Directors. a. The Developer hereby agrees to indemnify the District and each director, officer, agent, legal counsel, employee, and independent contractor thereof, and the City, and its officers, employees, agents, legal counsel, independent contractors and council members (together with the parties described in the last sentence of this Section 17.a, collectively, the "Indemnified Parties") and shall hold the Indemnified Parties harmless from, for and against any and all losses, damages, liabilities, claims and reasonable costs incurred, including but not limited to reasonable attorneys' fees and other administrative or out of pocket costs actually and directly incurred by the Indemnified Parties in connection with or as the result of acts of the District or the District Board which are (i) within the scope of the District or District Board's authority under the Securities Act, or (ii) undertaken by the District or District Board in a properly advertised public meeting. For purposes of this Section 17, the Indemnified Parties further includes Superstition Mountains Community Facilities District No. 1 and Water Utilities Community Facilities District (City of Apache Junction, Arizona) and each director, officer, agent, legal counsel, independent contractor or employee thereof, but only in connection with any public infrastructure (as defined in the Act) accepted by Superstition Mountains Community Facilities District No. 1 or Water Utilities Community Facilities District (City of Apache Junction, Arizona), respectively. 7 b. Section 17.a hereof shall, however, not be applicable to any of the following: (1) to the extent matters involve any gross negligence or willful misconduct of any Indemnified Parties, or (2) matters arising from or involving any material breach of this Agreement by the District or any other Indemnified Party. C. Sections 8.1(b)(2) and 8.1(c) of the District Agreement are hereby incorporated by reference for purposes of available insurance, if any, to the Indemnified Parties, and the provision of notice by the Indemnified Parties to the Developer in connection with indemnification sought from the Developer, respectively d. This Section 17 shall survive the termination hereof. 18. Disclosure Document. The Developer and all future owners or holders of any interest in any portion of the Property hereby agree that any potential purchaser of any real property subject hereto, including each potential purchaser of a residential lot within the Assessment District No. 1, shall receive a concise disclosure document that discloses the existence, the estimated payment amount and the payment terms of any portion of the Assessment applicable to the real property to be purchased. Each potential purchaser shall acknowledge in writing that the purchaser received and understood the concise disclosure document and has agreed to the terms, waivers and agreements contained in this Agreement. The Developer agrees to provide such disclosure document to the initial purchasers of the residential lots. For so long as the Developer owns any real property within the boundaries of the District, the Developer agrees to provide the form of disclosure document, upon reasonable request, to title companies, the District or a then-current owner of a residential lot within Assessment District No. 1 for any future conveyance of a residential lot within Assessment District No. 1. The District agrees to maintain records of the written acknowledgments. The provisions of this Agreement shall not apply to the sale, transfer or other conveyance of any real property which is not subject to the Assessment, and no disclosure document shall be required for such real property which is not subject to the Assessment. 19. Encumbrance of the Property. The provisions, terms and restrictions of this Agreement shall run with and bind the Property as equitable servitudes and also as covenants running with the land. Without limitation of the foregoing, in the event of any sale, transfer or other conveyance by the Developer, all future owners or holders of any interest in any portion of the Property shall continue to be bound by all of the terms, conditions and provisions hereof. Prior to the completion of the Work, the levy of the Assessments pertaining to the Work, the final hearing regarding the levy of the Assessments and the issuance of Assessment District No. 1 bonds secured by the Assessments, and subject to Section 29 hereof, any grantee, transferee or other subsequent owner shall execute and deliver to the District Exhibit D-1 attached hereto, and any prospective buyer shall execute and deliver to the District Exhibit D-2 attached hereto, and shall take such property subject to all of the terms, conditions and provisions hereof and any prospective buyer, grantee, transferee or other subsequent owner shall take such 8 property entitled to all of the rights, benefits and protections afforded the predecessor in interest thereof by the terms hereof. 20. Recording. This Agreement may be recorded in the office of the County Recorder of Pinal County, Arizona. 21. Continuing Disclosure. So long as any of the Developer or any future owner or holder of any interest in any portion of the Property is liable for twenty percent (20%) or more of the debt service on any Assessment District No. 1 bonds, such Developer, or any such future owner or holder of any interest in any portion of the Property, solely with respect to its assessed property, will provide, or make available on any electronic data gathering filing system created by the United States Securities and Exchange Commission, any and all information needed as may be reasonably requested by the District, or required to comply with the information reporting requirements contemplated by Rule 240.15c2-12, General Rules and Regulations, Securities Exchange Act of 1934, as amended. 22. Successors and Assigns. This Agreement shall inure to the benefit of and (except as otherwise expressly provided herein) be binding upon the Developer, and its future grantees, successors and assigns, and any future owner or holder of any interest in any portion of the Property. There shall be no third-party beneficiaries of this Agreement, except that solely for the purposes of receiving the benefits of the provisions of Sections 16 and 17 of this Agreement, the Developer hereby agrees that the City and., as applicable, Superstition Mountains Community Facilities District No. 1 and Water Utilities Community Facilities District (City of Apache Junction, Arizona), shall each be a third-party beneficiary of the terms and provisions of Sections 16 and 17 of this Agreement. 23. Authority. The Developer warrants that it has the requisite authority to enter into this Agreement and bind the Property and, to the best of its knowledge, no other consents are required. 24. Further Assurances. Without limitation of the foregoing, the Developer and all future owners and holders of any interest in any portion of the Property shall execute and deliver to the Developer and the District, upon request but at no third-party cost, all further assurances and waivers as may be required by the District and the Act to give full effect to the provisions of this Agreement, each of which further assurances and waivers by this reference shall, upon such execution, delivery and recording, be deemed incorporated herein and have the same priority as this Agreement. In addition to the foregoing, until the later of the issuance of the Assessment District No. 1 bonds or the final hearing regarding the levy of the Assessments, all owners of the Property (i) shall execute to the District, upon request, all further assurances, waivers and agreements as may be reasonably required by the District to effectuate the transactions contemplated by this Agreement, and (ii) shall engage legal counsel to deliver opinions as to, without limitation, the legality, validity and enforceability of this Agreement and such further assurances, waivers and agreements. 9 25. Counterparts. For convenience, this Agreement may be executed in one or more counterparts and each executed counterpart and all executed Exhibit D's shall for all purposes be deemed an original and shall have the saine force and effect as an original, but all of which together shall constitute in the aggregate but one and the same instrument. This Agreement will constitute the entire agreement between the parties, and supersedes all previous written or oral agreements or understandings regarding the subject matter of this Agreement. 26. Waiver of Claims by Developer. a. Except as to matters which are subject to the express terms of the District Agreement and any other written agreement to which the District and the Developer are parties as of the date of this Agreement, the Developer knowingly and voluntarily forever releases and discharges the District and all of its past and present elected officials, officers, directors, agents, employees, successors, assigns, attorneys, and representatives from all legal and equitable claims, causes of action, debts, accounts and damages occurring and existing prior to the date of this Agreement whether known or unknown, asserted or unasserted, and of every nature and extent whatsoever, that the Developer has against the District in connection with the Project arising from actions, omissions, delays or other events that occurred prior to the date of this Agreement. b. Except as to matters which are subject to the express terms of the Development Agreement and any other written agreement to which the City and the Developer are parties as of the date of this Agreement, the Developer knowingly and voluntarily forever releases and discharges the City and all of its past and present elected officials, officers, directors, agents, employees, successors, assigns, attorneys, and representatives from all legal and equitable claims, causes of action, debts, accounts and damages occurring and existing prior to the date of this Agreement whether known or unknown, asserted or unasserted, and of every nature and extent whatsoever, that the Developer has against the City in connection with the Project arising from actions, omissions, delays or other events that occurred prior to the date of this Agreement. C. None of the releases and discharges above are intended to, and do not, negate or otherwise relieve the District or the City of any executory contractual obligations under existing contracts or of any obligations under any applicable law, statute, or ordinance. 27. Failure to Sell Bonds. In the event the District fails or is otherwise unable to sell and/or deliver Assessment District No. 1 bonds in an amount sufficient to allow the District to pay the amounts needed to pay the costs of the Work and upon written request of the Developer acting on behalf of the owner or owners of the Property, the District agrees to adopt proceedings that dissolve and terminate Assessment District No. 1 or any Assessments (including termination of this Agreement), established by the District, encumbering the Property. 28. Consent. Subject to Section 29 hereof, until the later of the issuance of the Assessment District No. 1 bonds or the final hearing regarding the levy of the Assessments, the Developer agrees that upon the sale of any portion of the Property owned by the Developer, 10 the Developer will require the execution and delivery of Exhibit D-1 or Exhibit D-2 by each grantee, transferee, other subsequent owner or prospective purchaser, as applicable. 29. Additional Representations, Warranties and Covenants of Developer. Other than any agreement previously disclosed in writing to the District, as of the date of this Agreement, the Developer represents and warrants, with respect to any portion of the Property owned by them, that no purchase and sale agreements, option agreements, deposit agreements, or other agreements conveying or intending to convey an interest in all or any portion of the Property have been entered into with any purchaser, optionee, depositor or other recipient of an interest in the Property, and that any purchaser, optionee, depositor or other recipient of an interest in the Property under a previously disclosed agreement shall consent to this Agreement. In accordance herewith, until the final hearing regarding the levy of the Assessments is complete, the Developer and all future owners and holders of any interest in any portion of the Property covenant and agree not to transfer title in any interest in the Property to any non-affiliated purchaser or other recipient, unless such interest is greater than ten (10) residential lots for any such non-affiliated purchaser. 30. Arizona Law Provisions. a. The District may, within three years after its execution, cancel this Agreement, without penalty or further obligation, if any person significantly involved in initiating, negotiating, securing, drafting or creating this Agreement on behalf of the District is, at any time while this Agreement is in effect, an employee or agent of the Developer in any capacity or a consultant to the Developer with respect to the subject matter of this Agreement and may recoup any fee or commission paid or due any person significantly involved in initiating, negotiating, securing, drafting or creating this Agreement on behalf of the District from the Developer arising as the result of this Agreement. The Developer has not taken and shall not take any action which would cause any person described in the preceding sentence to be or become an employee or agent of the Developer in any capacity or a consultant to the Developer with respect to the subject matter of this Agreement. b. To the extent applicable, the Developer certifies that it is not currently engaged in, and agrees for the duration of this Agreement that it will not engage in a "boycott," as that term is defined in § 35-393, Arizona Revised Statutes, of Israel. C. To the extent applicable under A.R.S. § 41-4401, the Developer and its respective subcontractors warrant compliance with all federal immigration laws and regulations that relate to their employees and their compliance with the E-verify requirements under A.R.S. § 23-214(A). The failure by the Developer or its respective subcontractors' failure to comply with such warranty shall be deemed a material breach of this Agreement and may result in the termination of this Agreement by the District. d. To the extent applicable under A.R.S. § 35-394, the Developer hereby certifies it does not currently, and for the duration of this Agreement shall not use: (a) the forced labor of ethnic Uyghurs in the People's Republic of China, (b) any goods or services produced by the forced labor of ethnic Uyghurs in the People's Republic of China, and (c) any contractors, 11 subcontractors or suppliers that use the forced labor or any goods or services produced by the forced labor of ethnic Uyghurs in the People's Republic of China. The foregoing certifications are made to the best knowledge of the Developer, without any current independent investigation or without any future independent investigation for the duration of this Agreement. If the Developer becomes aware during the duration of this Agreement that it is not in compliance with such certification, the Developer shall take such actions as provided by law, including providing the required notice to the District. If the District determines that the Developer is not in compliance with the foregoing certification and has not taken remedial action, such failure to comply with the certifications in this section shall be deemed a material breach of this Agreement and may result in the termination of this Agreement by the District. [SIGNATURES ON FOLLOWING PAGES] 12 IN WITNESS WHEREOF, the undersigned have duly affixed their signatures, all as of the day and year first written above. SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1, an Arizona political subdivision and municipal corporation By: evz& wig Chairman, District Board ATTEST: District, Ierk APPROVED AS TO FORM: Richard Joel Stern, District Counsel STATE OF ARIZONA ) ) ss. COUNTY OF PINAL ) The foregoing instrument was acknowledged before me this day of March, 2023, by Walter "Chip" Wilson, Chairman of the Board of Directors of Superstition Vistas Community Facilities District No. 1, an Arizona political subdivision and municipal corporation. (Seal and Expiration Date) OFFICIAL SEAL began srdaa JEflUB Pena PUBLIC NOTARY UBLI C-ARIZONA Nptari Public in and for the State of Arizona ° Maricopa County Y w` COMM# 578749 Bag a� My Gomm.Expires pdov.18,2023�` [Signature page to Superstition Vistas Community Facilities District No. 1 Waiver and Development Agreement Pertaining to the To Be Formed Assessment District No. 1] Signature Page to Waiver and Development Agreement: DEVELOPER: D.R. HORTON, INC., a Delaware cor oration By. Name: Its: U. STATE OF ARIZONA ) ss. COUNTY OF MARICOPA ) The foregoing instrument was acknowledged before me this 91 day of March, 2023, by by A- Oa-A , the V) ¢ Pv cjai rz. of D.R. Horton, Inc., a Delaware corporation. (Seal and Expiration Date) y- z sty ALENA SHELDON Notary Public in and for the State of Arizona 0 e� Notary Public, State of Arizona Maricopa County Wp Commission # 598600 . rmz. My Commission Expires March 31, 2025 [Signature page to Superstition Vistas Community Facilities District No. 1 Waiver and Development Agreement Pertaining to the To Be Formed Assessment District No. 1] EXHIBIT A LEGAL DESCRIPTION OF PROPERTY Lots 1 through 105, inclusive, according to the Final Plat for Superstition Vistas—Phase IA—Parcel 19.2,recorded as Fee No. 2023-004459,Records of Pinal County,Arizona. Lots 108 through 178, inclusive, according to the Final Plat for Superstition Vistas — Phase IA — Parcel 19.1,recorded as Fee No. 2023-004458,Records of Pinal County,Arizona. Lots 216 through 333, inclusive, according to the Final Plat for Superstition Vistas — Phase lA — Parcel 19.13,recorded as Fee No. 2023-004461,Records of Pinal County,Arizona. Lots 334 through 439, inclusive, according to the Final Plat for Superstition Vistas — Phase lA — Parcel 19.12,recorded as Fee No. 2023-00460,Records of Pinal County,Arizona. A-1 EXHIBIT B PUBLIC INFRASTRUCTURE The Project consists of a new roadway within the District known as Reverence Road, and includes construction of approximately 2,325 lineal feet of two-lane, full street surface improvements with landscaped median. These improvements include potable water lines, storm drains, dry utility installation, concrete curb and gutter, concrete sidewalk, paving, striping, public signage, streetlights, entry monument, landscaping, and irrigation. The roadway consists of two paved driving lanes made up of four and one-half inches (41/2") of asphaltic concrete over eight inches (8") of aggregate base course. All improvements are shown on the plans sealed by the engineer or the landscape architect as shown on Exhibit C to the Agreement to which this Exhibit B is attached, and approved by the City of Apache Junction, Arizona, which may be amended from time to time to allow for additional property uses adjacent to Reverence Road that are not yet known. The expected completion date for the Project is April 2023. Such expected completion date represents the date by which the Developer expects the public infrastructure to be constructed, which may differ from the date that it is accepted by the District, City of Apache Junction, Arizona, or other governmental entity. B-1 EXHIBIT C IMPROVEMENT PLANS (CFD INFRASTRUCTURE) Reverence at Superstition Vistas — Reverence Road Water Plans prepared by HilgartWilson, sealed July 22, 2022, and approved by Apache Junction Development Services on August 17, 2022, CFD Project SVR W-004. Reverence at Superstition Vistas — Reverence Road Paving Plans prepared by HilgartWilson, sealed July 22, 2022, and approved by Apache Junction Development Services on August 17, 2022, CFD Project SVR TR-004. Reverence at Superstition Vistas Reverence Road — Signing and Pavement Marking Plans prepared by HilgartWilson, sealed August 9, 2022, and approved by Apache Junction Development Services on August 17, 2022, CFD Project SVR TR-004. Apache Junction Reverence at Superstition Vistas Reverence Road Public Street Lights prepared by Wright Engineering Corporation, sealed July 15, 2022, and approved by Apache Junction Development Services, CFD Project SVR TR-004. Landscape Plans prepared by ABLA For Reverence Road, sealed June 24, 2022, and approved by Apache Junction Development Services on July 19, 2022, CFD Project SVR LS-004. All work will be done within the right-of-way for Reverence Road as shown on the Map of Dedication for Superstition Vistas — Phase IA, recorded as Fee No. 2023-004457, Records of Pinal County,Arizona. C-1 EXHIBIT D-1 WHEN RECORDED RETURN TO: Greenberg Traurig,LLP Attn: Zachary D. Sakas 2375 E. Camelback Road, Suite 800 Phoenix, Arizona 85016 [PROPERTY OWNER/LIENHOLDER] CONSENT,WAIVER AND AGREEMENT [To be executed by Owners of property/lienholders within Assessment District No. 11 Reference is made to that certain Superstition Vistas Community Facilities District No. 1 Waiver and Development Agreement Pertaining to the To Be Formed Assessment District No. 1, initially by and between the District and the Developer (each as defined therein), dated as of. March 27, 2023, and recorded as Instrument No. 2023- in the Official Records of Pinal County (the "Agreement"), in respect of the Property, to which this [Property Owner/Lienholder] Consent, Waiver and Agreement now attaches to and becomes part of the Agreement. All capitalized terms used and not otherwise defined in this [Property Owner/Lienholder] Consent, Waiver and Agreement shall have the meanings set forth in the Agreement. The undersigned, as [an owner/lienholder in respect] of real property within the Assessment District No. 1, legally described on Exhibit 1 hereto,hereby consents to, and agrees to be bound by, the terms, waivers and agreements set forth in the Agreement, acknowledges that the Agreement shall run with and bind all the real property in which the undersigned holds an interest within Assessment District No. 1, and acknowledges the recordation of the Agreement with respect to all such real property. DATED: , 20 . [PROPERTY OWNER/LIENHOLDERI: By: Its: STATE OF ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me this day of 20_, by the of , an (Seal and Expiration Date) Notary Public in and for the State of D-1-1 EXHIBIT 1 LEGAL DESCRIPTION OF PROPERTY [Insert Description of Parcel Subject to Property Owner/Lienholder Consent, Waiver and Agreement] D-1-2 EXHIBIT D-2 WHEN RECORDED RETURN TO: Greenberg Traurig,LLP Attn: Zachary D. Sakas 2375 E. Camelback Road, Suite 800 Phoenix,Arizona 85016 [PROSPECTIVE RETAIL BUYER] CONSENT,WAIVER AND AGREEMENT [To be executed by prospective retail buyers of residential lots within Assessment District No. 11 Reference is made to that certain Superstition Vistas Community Facilities District No. 1 Waiver and Development Agreement Pertaining to the To Be Formed Assessment District No. 1, initially by and between the District and the Developer (each as defined therein), dated as of March 27, 2023, and recorded as instrument No. 2023- in the Official Records of Pinal County (the "Agreement"), in respect of the Property, to which this Consent, Waiver and Agreement now attaches to and becomes part of the Agreement. All capitalized terms used and not otherwise defined in this Consent, Waiver and Agreement shall have the meanings set forth in the Agreement. The undersigned has executed an executory residential real estate sale agreement to acquire the subdivided residential lot within the Assessment District No. 1,legally described on Exhibit 1 hereto(the"Lot"). So long as the executory residential real estate sale agreement is in effect and from and after the undersigned's acquisition of the Lot, the undersigned hereby consents to, and agrees to be bound by, the terms, waivers and agreements set forth in the Agreement, acknowledges that the Agreement shall run with and bind the Lot,and, if the undersigned acquires the Lot, authorizes the Developer to record this Consent, Waiver and. Agreement and acknowledges the recordation of the Agreement with respect to the Lot. In addition to the foregoing, if the undersigned acquires title to the Lot prior to the later of the issuance of the Assessment District No. 1 bonds or the final hearing regarding the levy of the Assessments, the undersigned hereby agrees to execute such additional waivers, assurances and agreements as reasonably required by the District, and to engage legal counsel at the undersigned's expense to deliver opinions as to, without limitation, the legality, validity and enforceability of this Consent,Waiver and Agreement and any additional waivers and agreements as reasonably requested by the District. DATED: 20 . [PROSPECTIVE RETAIL BUYER]: By: Its: STATE OF ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me this day of 20,by the of an (Sea] and Expiration Date) Notary Public in and for the State of D-2-1 EXHIBIT I LEGAL DESCRIPTION OF LOT [Insert Description of Lot Subject to Consent, Waiver and Agreement] D-2-2 City of Apache Junction, Arizona 300 E Superstition Boulevard Agenda Item Cover Sheet Apache Junction,AZ 85119 Agenda Item No.4. File ID: 23-208 Sponsor: Leslie DeReche Agenda Date:5/16/2023 Index: In Control: Superstition Vistas Community Facilit Presentation, discussion and consideration of Resolution No. 2023-002 SVCFD No. 1, a resolution of the district board of Superstition Vistas Community Facilities District No. 1 approving the levying of an assessment diagram for Assessment District No. 1 within the district. City of Apache Junction,Arizona Page 1 Printed on 511112023 RESOLUTION NO. 2023-002 SVCFD NO. 1 RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1 APPROVING THE LEVYING OF AN ASSESSMENT AND ASSESSMENT DIAGRAM FOR ASSESSMENT DISTRICT NO. 1 WITHIN THE SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1 . WHEREAS, on May 16, 2023, the Board of Directors (this "Board") of the Superstition Vistas Community Facilities District No. 1 (the "District") passed and adopted Resolution No. 2023-001 SVCFD No. 1 (the "Resolution of Intention") , declaring its intention to acquire the Project (as defined in the Resolution of Intention) , together with all appurtenances and adjuncts pertaining thereto; determining that the District' s special assessment bonds shall be issued to represent the costs and expenses thereof; declaring the Project to be of more than local or ordinary public benefit; declaring that the costs and expenses thereof shall be assessed upon the residential lots within the boundaries of Assessment District No. 1 (as defined in the Resolution of Intention) ; and providing that the Project shall be performed under the provisions of Title 48, Chapter 4, Article 6, Arizona Revised Statutes, and all amendments thereto; and WHEREAS, the Waiver (as defined in the Resolution of Intention) has been signed by the District, the developer, the landowners of the real property within the boundaries of Assessment District No . 1 and any other persons having an interest in the real property within the boundaries of Assessment District No. 1, waiving, among other things, all requirements for notice and time for protests against the Project and objections to the extent of the Assessment District No. 1; and WHEREAS, a $5, 000 . 00 assessment shall be levied against all residential lots shown on the assessment diagram within Assessment District No. 1 that have not prepaid such assessment; and WHEREAS, this Board has thereby acquired jurisdiction to order the acquisition and performance of the Project; RESOLUTION NO. 2023-002 SVCFD NO. 1 PAGE 1 OF 5 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1 AS FOLLOWS : SECTION 1 DEFINITIONS In this resolution, terms defined in the Resolution of Intention shall have the same meanings herein as therein. SECTION 2 PROJECT COST The estimate of costs and expenses for the Project, Incidental Expenses and Debt Service Reserve is as set forth hereafter, and the Estimate on file with the District is as follows : Project Costs Project Costs $1, 385, 615 . 00 TOTAL PROJECT COSTS $1, 385, 615 . 00 Incidental Expenses $447, 110 . 00 Debt Service Reserve 167, 275 . 00 GRAND TOTAL $2, 000, 000 . 00 SECTION 3 RATIFICATION OF LEVY OF ASSESSMENT The District Engineer has allocated the Project costs among the developable lots within the Assessment District No. 1 benefitting from the Project and the levy by the Superintendent of Streets of an assessment against the real property in the Assessment District No. 1 for an amount not greater than the grand total of costs set forth in Section 2 hereof, is hereby ratified; provided, however, the amount of the assessment may be reduced as actual costs are established and substituted for the estimated costs and as may be necessary to reduce any assessment made on any developable lot in the Assessment District No. 1 to not more than $5, 000 . 00 . The Superintendent of Streets is hereby directed to record in its offices the assessment and record with the Pinal County Recorder a Notice of Assessment. RESOLUTION NO. 2023-002 SVCFD NO. 1 PAGE 2 OF 5 SECTION 4 ASSESSMENT DIAGRAM Those certain duplicate assessment diagrams of the area to be assessed, prepared by the District Engineer, and heretofore filed with the District Clerk and the Superintendent of Streets, are hereby ratified and approved, and the District Clerk is hereby directed to certify the fact of such ratification and approval on the face of each of such diagrams including the date hereof as the date of such ratification and approval and to deliver a copy of the diagrams so certified to the Superintendent of Streets . SECTION 5 ASSESSMENT AND COLLECTION The preparation and recording by the District Engineer and Superintendent of Streets of an assessment against the real property contained within the Assessment District No. 1 is hereby authorized and approved, or as applicable, ratified. The assessment shall be allocated among the parcels and residential lots within the Assessment District No. 1 as shown on the Assessment Diagram, in the manner established by the District Engineer. The District Treasurer and Superintendent of Streets are each hereby authorized and directed to collect the assessment, and the District' s execution and delivery of a Community Facilities District Assessment Collection Agreement, by and between the District and the Treasurer of Pinal County, Arizona, in accordance with Arizona Revised Statutes § 48-721, is hereby authorized. SECTION 6 RATIFICATION All acts of the District Clerk, the District Engineer, the Superintendent of Streets and any person acting for such officials in furtherance of this resolution, whether such actions were prior to or are subsequent to the adoption of this resolution, are hereby ratified and confirmed. RESOLUTION NO. 2023-002 SVCFD NO. 1 PAGE 3 OF 5 SECTION 7 . SEVERABILITY; AMENDMENT; RATIFICATION If any section, paragraph, clause or provision of this Resolution shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this Resolution. SECTION 8 EFFECTIVE DATE This Resolution shall be effective immediately. [Signature Page to Follow. ] RESOLUTION NO. 2023-002 SVCFD NO. 1 PAGE 4 OF 5 PASSED AND ADOPTED BY THE BOARD OF DIRECTORS OF THE SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1, THIS DAY OF MAY, 2023 . SIGNED AND ATTESTED TO THIS DAY OF MAY, 2023 . WALTER "CHIP" WILSON Chairman, Board of Directors ATTEST: JENNIFER PENA District Clerk APPROVED AS TO FORM: RICHARD JOEL STERN District Counsel CERTIFICATE I hereby certify that the above and foregoing resolution was duly passed by the Board of Directors of the Superstition Vistas Community Facilities District No. 1 at a regular meeting held on May 16, 2023, and that a quorum was present thereat and that the vote thereon was ayes and nays; did not vote or were absent. District Clerk RESOLUTION NO. 2023-002 SVCFD NO. 1 PAGE 5 OF 5 SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO . 1 ASSESSMENT DISTRICT NO . 1 SHEET INDEX SHEET DESCRIPTION 1 COVER SHEET 2 KEYMAP VICINITY MAFN 3 PARCEL & LEGEND 19.1 NTS 4 PARCEL 19.2 5 PARCEL 19.12 FREEWAY THO AS 6 PARCEL 19.13 (AZ 202) MCDO NELL CKE-LIP DISTRICT ENGINEER CERTIFICATION X , BROWN RD —� I HEREBY CERTIFY THAT THE PARCEL BOUNDARIES SHOWN AS DEPICTED ON � � THE BEST OF MY KNOWLEDGE AND BELIEF. THESE PLANS WERE SUPPLIED BY HILGART WILSON, LLC. AND ARE CORRECT TO I Lj Lj-J MAIN ST C-4 RO D DISTRICT ENGINEER DATE 0 n N C-4 v- APPROVED BY RESOLUTION NO.2023-00—SV CFD NO. 1 AT A MEETING OF THE ERN L;j BOARD OF DIRECTORS OF THE SUPERSTITION VISTAS COMMUNITY FACILITIS DISTRICT NO. 1 ON THE TH DAY OF 2023. E BA LINE -c -------------------- DISTRICT CLERK DATE > GUADALUPE LLJ F cn LL] __j 00 >- > LL- (-D < I I I Li cl� LLJ m LLJ SIGNED; THIS DAY 0 2023 LLJ __j ELLIOT ch� Q:� CIO c m 0 0 CIO 0 CO 0 WARNER SUBMITTED: -co < SUPERINTENDENT OF STREETS DATE (AZ 202) SANTAN FRWY— < 0 E cn AY RD co c") 00 THIS PROJECT WILLIAMS FIELD 0 o PECOS RD z 0 0 GERMANN RD e, 0 Enfiellus TM QUEEN CREEK 8083 N. 44th Street, Suite 250 6 :7 Phoenix. AZ 85018 41 T1 Tel 602.244.2566 0 0 c/) > F F— FT1 Fax 602.244.8947 > F-- :�E cn cf) Website www.entellue.com FT1 Fr� > F-- 0 0 > E > SUPERSTITION VISTAS rn COMMUNITY FACILITIES z DISTRICT NO. 1 0 APACHE JUNCTION, ARIZONA > 00 r at woM da ' COVER SHEET eewwuevaay ASSESSMENT DISTRICT N0. 1 0 0 60 30 0 60 120 SHEET TOTAL as Bat" DRAWN BY: JA I DESIGN BY: JA I CHECK BY: TC NO: SHEETS DW 8+1 or 1-800-SAKE-rr Tr7- SCALE: 1 "= 60 In Markxva County.(WO 263-1= DATE.E. 04/21/2023 ENT PROJ #: 745.028A 01 06 r� \ LEGEND: ASSESSED IMPROVEMENTS Z (REVERENCE ROAD) v NOT A PART OF ASSESSMENT DISTRICT ASSESSMENT DISTRICT EXTENTS PARCEL LINE \ ' \ \, LOT LINE RADIANCE AVENUE i / �\ i it 100 LOT NUMBER ---------------------------------- ---� I ---- -- — -- �L _ I I 1IL - PARCEL�I 19.12PARCEL 19.13 106 LOTS I ASSESSME NT DISTRICT (AD) NO.1-SITE DATA118 LOTS SHEET6 ----�- _ S�I'I HE��`E lT\- 5� i I 1 Il IIlI�i I � I I I I 1 'I PARCEL 1 9.1 LOT COUNT: 79 PARCEL 19.2 LOT COUNT: 10 5 PARCEL 19.12 I ------ LOT COUNT: 106 --- ------ PARCEL 19.13 LOT COUNT: 118 AD NO. 1 TOTAL LOT COUNT: 400 -- -- -----AD NO . 1 N ----- O --_ - --- -- --- NL0¢n;a3Oi ----- -,- --�, PARCEL-19.2 9.2 PARCEL19.1 105 LOTS 71 LOTS SHEET4L --- --- ------ -SHEET3 > -- --- ------ - ----- --- 1 1,) „ I , Ov 00 IIli i i I II i i ------ - u -- ___--- - ------ c 1 1 I -- --- --- -- ----- ---- --- ----- -- - --- ---------i--- ------ --- ai --- ------ -- -I I -iit-------------- I -_ --------- - - dO0zUoNO 0-I ------- - --------- - --------- ----------------------------- ---------------- - - ---------------- \---------- RAY AVENUE U1-1 ZOU e, O Entellus TM KEY MAP 3033 N. 44th Street, Suite 250 Phoenix. 6218 SCALE: 1 "- 150' Tel 0 .24466 Fax 602.244.8947 Website www.entelaw.com SUPERSTITION VISTAS COMMUNITY FACILITIES z DISTRICT NO. 1 APACHE JUNCTION, ARIZONA>co KEY MAP Eiil OWI at lem tao T woMnq day8 bej^excavation.I before ym ASSESSMENT DISTRICT NO. 1 60 30 0 60 120 SHEET TOTAL as DRAWN BY: JA DESIGN BY: JA CHECK BY: TC NO: SHEETS JDW 8+1 or 1.800-SAKE IT W SCALE: 1 "= 60 InMarkxvaConty..(eo2)2es-1100 DATE: 04/21/2023 ENT PROJ #: 745.028A 02 06 LOT TABLE LOT TABLE LOT TABLE LOT NO. AREA (SQ.FT) ASSESSMENT NO. LOT NO. AREA (SQ.FT) ASSESSMENT NO. LOT NO. AREA (SQ.FT) ASSESSMENT NO. LOT : 108 5,805 01-01-1-19.1-108 LOT : 126 6,030 01-01-1-19.1-126 LOT : 146 5,805 01-01-1-19.1-146 \ I LOT : 109 5,805 Ot-Ot-1-19.1-109 LOT : 127 6,030 Ot-Ot-1-19.1-127 LOT : 147 5,805 01-01-1-19.1-147 LOT : 110 5,805 01-01-1-19.1-110 LOT : 128 6,030 01-01-1-19.1-128 LOT : 148 5,805 01-01-1-19.1-148 \ I LOT : 111 5,805 01-01-1-19.1-111 LOT : 129 6,030 01-01-1-19.1-129 LOT : 149 5,805 01-Ot-1-19.1-149 \ I LOT : 112 5,805 01-01-1-19.1-112 LOT : 130 5,638 01-01-1-19.1-130 LOT : 150 5,805 01-01-1-19.1-150 \ I \ I LOT : 113 5,804 01-01-1-19.1-113 LOT : 131 5,603 01-01-1-19.1-131 LOT : 151 5,805 01-01-1-19.1-151 \ I LOT : 114 5,930 01-01-1-19.1-114 LOT : 132 5,603 01-01-1-19.1-132 LOT : 152 5,805 01-01-1-19.1-152 \ I LOT : 115 6,030 01-01-1-19.1-115 LOT : 133 5,603 01-01-1-19.1-133 LOT : 153 5,805 01-01-1-19.1-153 -- LOT : 116 6,030 01-01-1-19.1-116 LOT : 134 5,602 01-01-1-19.1-134 LOT : 154 5,805 01-01-1-19.1-154 LOT : 117 6,030 01-01-1-19.1-117 LOT : 135 5,804 01-01-1-19.1-135 LOT : 155 5,805 01-01-1-19.1-155 ` I I LOT : 118 6,030 01-01-1-19.1-118 LOT : 136 5,805 01-01-1-19.1-136 LOT : 156 5,804 01-01-1-19.1-156 \ I LOT : 119 6,030 01-01-1-19.1-119 LOT : 137 5,805 01-01-1-19.1-137 LOT : 157 6,007 01-01-1-19.1-157 \ I I LOT : 120 5,805 01-01-1-19.1-120 LOT : 138 5,805 01-01-1-19.1-138 LOT : 158 6,008 01-01-1-19.1-158 \ I I LOT : 121 5,805 01-01-1-19.1-121 LOT : 139 5,805 01-01-1-19.1-139 LOT : 159 6,008 01-01-1-19.1-159 \ I I LOT : 122 5,805 01-01-1-19.1-122 LOT : 140 5,805 01-01-1-19.1-140 LOT : 160 6,008 01-01-1-19.1-160 \ I I \ I I I LOT : 123 5,805 01-01-1-19.1-123 LOT : 141 5,805 01-01-1-19.1-141 LOT : 161 6,007 01-01-1-19.1-161 \ I I I LOT : 124 6,030 01-01-1-19.1-124 LOT : 142 5,805 01-01-1-19.1-142 LOT : 162 5,805 01-01-1-19.1-162 y LOT : 125 6,030 01-01-1-19.1-125 LOT : 143 5,805 01-01-1-19.1-143 LOT : 163 5,805 01-01-1-19.1-163 \ I I LOT : 144 5,805 01-01-1-19.1-144 LOT : 164 5,805 01-01-1-19.1-164 I\ I I LOT : 145 5,805 01-01-1-19.1-145 LOT : 165 5,805 01-01-1-19.1-165 LOT TABLE \ I LOT NO, AREA (SQ.FT) ASSESSMENT NO. II \ I III i I LOT : 166 5,805 01-01-1-19.1-166 I LOT : 167 5,805 01-01-1-19.1-167 I \ I 9 1 I I 0 1 4 LOT : 168 5,805 01-01-1-19.1-168 \ I I I LOT : 169 6,030 01-01-1-19.1-169 \ I \ I ) 1 LOT : 170 6,030 01-01-1-19.1-170 - - - - - - - - - L--7-- - - - - - - - - - - - - - - i LOT : 171 6,030 01-01-1-19.1-171 LOT : 172 6,030 01-01-1-19.1-172 LOT : 173 6,030 01-01-1-19.1-173 -- - i LOT : 174 6,030 01-01-1-19.1-174 1 - - - - - LOT : 175 6,030 01-01-1-19.1-175 I / j LOT : 176 6,030 01-01-1-19.1-176 LOT : 177 6,030 01-01-1-19.1-177 8 1 LOT : 178 6,030 01-01-1-19.1-178 \ I \ \ I \ I I I I I I I \ I \ I 108 I I I I I I I I j 162 163 164 165 166 167 168 jl 169 170 171 172 173 174 175 176 177 178 109 \ I \ I I I I I I I I I I V I \ I I 1 I I I I \ I \ I I I I I I I I I I \ I \ I I I I I I I I I I I i 110 --- ----- ---- 4 4 I ' - - - - - - - - - - - I \ \ f/ - I I l 112 N O i N 161 160 159 158 157 it 156 155 154 153 152 151 150 149 148 147 146 I I I N 113 I - Q 1\ --------------- t;.j \ \ LEGEND: Q ----------- -o ASSESSED IMPROVEMENTS 1 (REVERENCE ROAD) �v 130 131 132 133 134 i � ii 135 136 137 138 139 140 141 142 143 144 145 NOT A PART OF ASSESSMENT DISTRICT --- - -J,I' ASSESSMENT DISTRICT EXTENTS 00 o , i PARCEL LINE L0 - - - - - - - - - - - - - - - LOT LINE _ \ - - ----- ----- ----- -� I _,' I I LOT NUMBER L 01-01 -1-19. 1 -100 ASSESSMENT NO.= CFD # -ASSESSMENT DISTRICT - ' DEVELOPMENT UNIT -PARCEL -LOT p ' 129 128 127 126 125 124 123 122 121 120 j >>9 118 117 116 115 114 I I E I I I I I m I \ \ I I I I /Q I C_-_ - ---- - ---- � I - - - - --- -- - ,' ` ------ - ------------------------- ------------ C.) Z O H U O 1 1 ' Enfiell sTM I 0 8083 N. 44th Street, Suite 250 z Phoenix. AZ 85018 Tel 602.244.2566 Fax 602.244.8947 o Website www.entelaw.com SUPERSTITION VISTAS COMMUNITY FACILITIES z DISTRICT NO. 1 APACHE JUNCTION, ARIZONA > co PARCEL NO. 19. 1 N Call at MW tao Tt�ll woricing day8 O / before you begin ca ASSESSMENT DISTRICT NO. 1 0 80 40 0 80 160 s SHEET TOTAL as at" DRAWN BY: JA DESIGN BY: JA CHECK BY: TC NO: SHEETS J 8+1 or 1.800-SAKE IT W r�aant�r SCALE: 1 "= 80 InNbo (OW2es-1= DATE: 04/21/2023 ENT PROJ #: 745.028A 03 06 LOT TABLE LOT TABLE LOT TABLE LOT NO. AREA (SQ.FT) ASSESSMENT NO. LOT NO. AREA (SQ.FT) ASSESSMENT NO. LOT NO. AREA (SQ.FT) ASSESSMENT NO. LOT : 1 7,553 01-01-1-19.2-1 LOT : 21 6,482 01-01-1-19.2-21 LOT : 41 6,616 01-01-1-19.2-41 LOT : 2 6,593 01-01-1-19.2-2 LOT : 22 6,473 01-01-1-19.2-22 LOT : 42 6,534 01-01-1-19.2-42 LOT : 3 6,779 01-01-1-19.2-3 LOT : 23 6,725 01-01-1-19.2-23 LOT : 43 6,522 01-01-1-19.2-43 LOT : 4 6,764 01-01-1-19.2-4 LOT : 24 6,722 01-01-1-19.2-24 LOT : 44 6,642 01-01-1-19.2-44 LOT : 5 6,731 01-01-1-19.2-5 LOT : 25 6,722 01-01-1-19.2-25 LOT : 45 6,145 01-01-1-19.2-45 \ \t LOT : 6 6,450 01-01-1-19.2-6 LOT : 26 6,722 01-01-1-19.2-26 LOT : 46 6,401 01-01-1-19.2-46 LOT : 7 6,450 01-01-1-19.2-7 LOT : 27 8,365 01-01-1-19.2-27 LOT : 47 6,388 01-01-1-19.2-47 / LOT : 8 6,450 01-01-1-19.2-8 LOT : 28 6,759 01-01-1-19.2-28 LOT : 48 6,470 01-01-1-19.2-48 / LOT : 9 6,700 01-01-1-19.2-9 LOT : 29 6,657 01-01-1-19.2-29 LOT : 49 6,150 01-01-1-19.2-49 I' LOT : 10 6,700 01-01-1-19.2-10 LOT : 30 6,602 01-01-1-19.2-30 LOT : 50 6,485 01-01-1-19.2-50 LOT : 11 6,700 01-01-1-19.2-11 LOT : 31 6,611 01-01-1-19.2-31 LOT : 51 6,509 01-01-1-19.2-51 LOT : 12 6,687 01-01-1-19.2-12 LOT : 32 6,611 01-01-1-19.2-32 LOT : 52 6,497 01-01-1-19.2-52 LOT : 13 6,578 01-01-1-19.2-13 LOT : 33 6,599 01-01-1-19.2-33 LOT : 53 6,500 01-01-1-19.2-53 ---- LOT : 14 6,734 01-01-1-19.2-14 LOT : 34 6,574 01-01-1-19.2-34 LOT : 54 6,517 01-01-1-19.2-54 / ` l LOT : 15 6,744 01-01-1-19.2-15 LOT : 35 6,570 01-01-1-19.2-35 LOT : 55 6,513 01-01-1-19.2-55 ' LOT : 16 6,744 01-01-1-19.2-16 LOT : 36 6,587 01-01-1-19.2-36 LOT : 56 6,488 01-01-1-19.2-56 - - LOT : 17 6,727 01-01-1-19.2-17 LOT : 37 6,590 01-01-1-19.2-37 LOT : 57 6,476 01-01-1-19.2-57 LOT : 18 6,723 01-01-1-19.2-18 LOT : 38 6,578 01-01-1-19.2-38 LOT : 58 6,475 01-01-1-19.2-58 LOT : 19 6,474 01-01-1-19.2-19 LOT : 39 6,601 01-01-1-19.2-39 LOT : 59 6,485 01-01-1-19.2-59 �- LOT : 20 6,480 01-01-1-19.2-20 LOT : 40 1 6,279 01-01-1-19.2-40 LOT : 60 6,525 01-01-1-19.2-60 ----- ----- Y _- LOT TABLE LOT TABLE LOT TABLE r LOT NO. AREA (SQ.FT) ASSESSMENT NO. LOT NO. AREA (SQ.FT) ASSESSMENT NO. LOT NO. AREA (SQ.FT) ASSESSMENT NO. 91 LOT : 61 6,675 01-01-1-19.2-61 LOT : 81 5,245 01-01-1-19.2-81 LOT : 101 6,500 01-01-1-19.2-101 97 96 95 94 93 92 _i' I I I __---- � 1 1 1 LOT : 62 6,591 01-01-1-19.2-62 LOT : 82 6,488 01-01-1-19.2-82 LOT : 102 6,500 1-01-1-19.2-102 I I j l _- -- `-_____------ � 11 11 i LOT : 63 6,573 01-01-1-19.2-63 LOT : 83 6,473 01-01-1-19.2-83 LOT : 103 6,500 1-01-1-19.2-103 _- -_\ 2 LOT : 64 6,577 01-01-1-19.2-64 LOT : 84 6,472 01-01-1-19.2-84 LOT : 104 6,500 1-01-1-19.2-104 ----- --------- ---- LOT : 65 6,603 01-01-1-19.2-65 LOT : 85 6,477 01-01-1-19.2-85 LOT: 105 6,552 1-01-1-19.2-105 _ - --- LOT : 66 6,614 01-01-1-19.2-66 LOT : 86 6,488 01-01-1-19.2-86 �- ------- -- LOT : 67 6,619 01-01-1-19.2-67 LOT : 87 6,514 01-01-1-19.2-87 ------ ---- i LOT : 68 6,618 01-01-1-19.2-68 LOT : 88 6,518 01-01-1-19.2-88 _ ----- 1 ----- ------ I 1 1 98 II � II 79 78 77 76 11 11 1 4 11 � 1 LOT : 69 6,603 01-01-1-19.2-69 LOT : 89 6,501 01-01-1-19.2-89 I 81 80 LOT : 70 6,681 01-01-1-19.2-70 LOT : 90 6,514 01-01-1-19.2-90 1 1 I 85 84 83 82 II m LOT : 71 6,703 01-01-1-19.2-71 LOT: 91 6,486 01-01-1-19.2-91 87 86 1 Z 99 90 89 88 1 11 1 LOT : 72 6,711 01-01-1-19.2-72 LOT : 92 6,486 01-01-1-19.2-92 ii 5 LOT : 73 6,726 01-01-1-19.2-73 LOT : 93 6,486 01-01-1-19.2-93 LOT : 74 6,748 01-01-1-19.2-74 LOT : 94 6,493 01-01-1-19.2-94 100 I 1 j i I I ii i i I LOT : 75 6,756 01-01-1-19.2-75 LOT : 95 6,507 01-01-1-19.2-95 II O I I I I i 6 i 1 i LOT : 76 7,259 01-01-1-19.2-76 LOT : 96 6,695 01-01-1-19.2-96 it 1 74 75 1 I 1 ii LOT : 77 6,490 01-01-1-19.2-77 LOT : 97 6,725 01-01-1-19.2-97 73 101 1 1 70 71 72 LOT : 78 7,817 01-01-1-19.2-78 LOT : 98 6,231 01-01-1-19.2-98 67 68 69 J 7 61 LOT : 79 7,831 01-01-1-19.2-79 LOT : 99 6,500 01-01-1-19.2-99 62 63 64 65 66 --_ _I - 1 LOT : 80 5,230 01-01-1-19.2-80 LOT : 100 6,500 1-01-1-19.2-100 102 j --- ------ --- _ --- --- I ----- --- - - ------ ------ I I 103 _ - --- 1 it i - ----- ------ 9 -----1 -----it I ------ ----- ------ - 104 --- 48 47 46 45 it 1 I 1 I � i 49 r� 51 50 1 1 10 oN 53 52 N 55 105 i li 60 59 58 57 56 4 i I III i� II II II N a ---------- � -- Q ---------- -- I1 II i 1 i Li..i l Q I I I I 1 I 12 I I I 43 44 II 1 i I rn 40 41 42 -- -------- 38 39 36 37 --------- 11 29 30 31 32 33 34 35 _____ LEGEND. 1 11 _----- 28 --- L I III -- ------ -- ---- ------ --- - - - ASSESSED IMPROVEMENTS ---- ------ ---- - ------- - -- - -1 (REVERENCE ROAD) I I it O 27 \ - i - ______ - --- NOT A PART OF ASSESSMENT I II ' � DISTRICT o -- I------ 15 13 ASSESSMENT DISTRICT EXTENTS 0- 1 � ___ 1 1 1 11 it 16 20 19 18 17 \ PARCEL LINE I 0 24 23 22 21 , �� LOT LINE E 26 25 100 LOT NUMBER 01 -01 -1 -19. 1-100 ASSESSMENT NO.= CFD # -ASSESSMENT DISTRICT - DEVELOPMENT UNIT # -PARCEL # -LOT # I 1 Q ----------- ----- -- -------------- ------------ 0 0 U 1-1 O H U O Entellus TM I 0 8083 N. 44th Street, Suite 250 z Phoenix. AZ 85018 Tel 602.244.2566 Fax 602.244.8947 o Website www.entelaw.com SUPERSTITION VISTAS COMMUNITY FACILITIES z DISTRICT NO. 1 APACHE JUNCTION, ARIZONA > co PARCEL NO. 19.2 N Od at MW tm�woMna vawe O / b4^excavadomASSESSMENT DISTRICT NO. 1 0 80 40 0 80 160 s SHEET TOTAL Bkre9talae� DRAWN BY: JA DESIGN BY: JA CHECK BY: TC NO: SHEETS J &1-1 or 1.800-STAKE-IT W SCALE: 1 "= 80 InNbricoaoanty(WO 2es-1100 DATE: 04/21/2023 ENT PROJ #: 745.028A 04 06 LOT TABLE LOT TABLE LOT TABLE \ LOT N0. AREA (SQ.FT) ASSESSMENT NO. LOT NO. AREA (SQ.FT) ASSESSMENT NO. LOT NO, AREA (SQ.FT) ASSESSMENT NO. \\ LOT : 334 7,097 01-01-1-19.12-334 LOT : 354 7,527 01-01-1-19.12-354 LOT: 374 7,370 01-01-1-19.12-374 LOT : 335 7,100 01-01-1-19.12-335 LOT : 355 7,381 01-01-1-19.12-355 LOT : 375 7,370 01-01-1-19.12-375 ' LOT : 336 7,104 01-01-1-19.12-336 LOT : 356 8,441 01-01-1-19.12-356 LOT : 376 7,346 01-01-1-19.12-376 LOT : 337 7,135 01-01-1-19.12-337 LOT : 357 7,324 01-01-1-19.12-357 LOT : 377 7,258 01-01-1-19.12-377 LOT : 338 7,276 01-01-1-19.12-338 LOT : 358 7,324 01-01-1-19.12-358 LOT : 378 7,095 01-01-1-19.12-378 LOT : 339 7,276 01-01-1-19.12-339 LOT : 359 7,325 01-01-1-19.12-359 LOT : 379 7,095 01-01-1-19.12-379 LOT : 340 7,095 01-01-1-19.12-340 LOT : 360 7,325 01-01-1-19.12-360 LOT : 380 7,095 01-01-1-19.12-380 \ LOT : 341 7,095 01-01-1-19.12-341 LOT : 361 7,126 01-01-1-19.12-361 LOT : 381 7,095 01-01-1-19.12-381 ` LOT : 342 7,095 01-01-1-19.12-342 LOT : 362 7,117 01-01-1-19.12-362 LOT : 382 7,095 01-01-1-19.12-382 LOT : 343 7,095 01-01-1-19.12-343 LOT : 363 7,117 01-01-1-19.12-363 LOT : 383 7,095 01-01-1-19.12-383 LOT : 344 7,137 01-01-1-19.12-344 LOT : 364 7,117 01-01-1-19.12-364 LOT : 384 7,095 01-01-1-19.12-384 \ \\ LOT : 345 8,135 01-01-1-19.12-345 LOT : 365 7,117 01-01-1-19.12-365 LOT : 385 7,095 01-01-1-19.12-385 \\ `\ LOT : 346 8,134 01-01-1-19.12-346 LOT : 366 7,333 01-01-1-19.12-366 LOT : 386 7,095 01-01-1-19.12-386 ` \ LOT : 347 8,135 01-01-1-19.12-347 LOT : 367 7,478 01-01-1-19.12-367 LOT : 387 7,095 01-01-1-19.12-387 \\ `\ LOT : 348 8,146 01-01-1-19.12-348 LOT : 368 7,478 01-01-1-19.12-368 LOT : 388 7,095 01-01-1-19.12-388 LOT : 349 7,777 01-01-1-19.12-349 LOT : 369 7,478 01-01-1-19.12-369 LOT : 389 7,095 01-01-1-19.12-389 LOT : 350 7,233 01-01-1-19.12-350 LOT : 370 7,478 01-01-1-19.12-370 LOT : 390 7,095 01-01-1-19.12-390 \ \ LOT : 351 7,417 01-01-1-19.12-351 LOT : 371 7,451 01-01-1-19.12-371 LOT : 391 7,095 01-01-1-19.12-391 \\ \\ LOT : 352 7,603 01-01-1-19.12-352 LOT : 372 7,391 01-01-1-19.12-372 LOT : 392 7,370 01-01-1-19.12-392 \\ \ LOT : 353 7,849 01-01-1-19.12-353 LOT : 373 7,391 01-01-1-19.12-373 LOT : 393 7,370 01-01-1-19.12-393 404 LOT TABLE LOT TABLE LOT TABLE i \ \ LOT NO. AREA (SQ.FT) ASSESSMENT NO. LOT N0. AREA (SQ.FT) ASSESSMENT NO. LOT NO. AREA (SQ.FT) ASSESSMENT NO. LOT : 394 7,225 01-01-1-19.12-394 LOT : 414 7,402 01-01-1-19.12-414 LOT : 434 12,729 01-01-1-19.12-43 LOT : 395 7,948 01-01-1-19.12-395 LOT : 415 7,402 01-01-1-19.12-415 LOT : 435 10,847 01-01-1-19.12-435 403 i \ \ _ \ \ LOT : 396 7,204 01-01-1-19.12-396 LOT : 416 7,402 01-01-1-19.12-416 LOT : 436 7,489 01-01-1-19.12-436 - i _ - 396 \\\ \\ LOT : 397 7,095 01-01-1-19.12-397 LOT : 417 7,143 01-01-1-19.12-417 LOT : 437 7,370 01-01-1-19.12-437 395 ` \` LOT : 398 7,095 01-01-1-19.12-398 LOT : 418 7,514 01-01-1-19.12-418 LOT : 438 7,370 01-01-1-19.12-438 402 \ `\ LOT : 399 7,095 01-01-1-19.12-399 LOT : 419 7,713 01-01-1-19.12-419 LOT : 439 7,370 01-01-1-19.1-439 397 1 �� `\ �� / � LOT : 400 6,592 01-01-1-19.12-400 LOT : 420 7,715 01-01-1-19.12-420 LOT : 401 6,735 01-01-1-19.12-401 LOT : 421 8,079 01-01-1-19.12-421 --- _ 394 LOT : 402 10,224 01-01-1-19.12-402 LOT : 422 7,714 01-01-1-19.12-422 406 401 LOT : 403 7,303 01-01-1-19.12-403 LOT : 423 7,713 01-01-1-19.12-423 398 � v `\ / \ LOT : 404 8,289 01-01-1-19.12-404 LOT : 424 7,712 01-01-1-19.12-424 377 391 393 ' / `\ LOT : 405 8,923 01-01-1-19.12-405 LOT : 425 7,712 01-01-1-19.12-425 i 405 \ \ \ �� / � /� \\ \ LOT : 406 6,606 01-01-1-19.12-406 LOT : 426 9,056 01-01-1-19.12-426 378 , 399 400 \ \\ \ LOT : 407 7,109 01-01-1-19.12-407 LOT : 427 14,889 01-01-1-19.12-427 376 390 392 __- _ / 407 \ `\ \\ LOT : 408 7,122 01-01-1-19.12-408 LOT : 428 9,830 01-01-1-19.12-428 LOT : 409 7,148 01-01-1-19.12-409 LOT : 429 7,437 01-01-1-19.12-429 379 ' 408 \ ` ` LOT : 410 7,402 01-01-1-19.12-410 LOT : 430 7,455 01-01-1-19.12-430 ' ` A 7 402 7 455 - - I LOT : 411 01-01-1-19.12-411 LOT : 431 01-01 1 19.12-431 I 1i 375 389 409 i _ / v �� v , II II ` �� _ � � \ \ LOT • 412 7,402 01 01 1 19 12 412 LOT 432 7,455 01 01 1 19 12 432 -.-----.--.___._ J \ 380 ` �_ - 410 \\ \\ LOT : 413 7,402 01-01-1-19,12-413 LOT : 433 7,321 01-01-1-19.12-433 \ 1 \ 11 v 374 II i 388 1I � I ----- ----------- 41> 412 \ \ 381 413 \ \\ \\ 414 427 �� v i -- 387 I � 1 I 417 416 415 426 382 v _ I \ 425 428 N __ 386 \ O \ N 383 ��- 424 _ 423 ` N _ 385 422 �- Q 429 \ \\ 373 384 - 420 421 ` LEGEND: w __- 419 ,' v Q - 1 418 V A 430 ASSESSED IMPROVEMENTS 3o t \\ REVERENCE ROAD 1 1 1 i 372 ---- ------- -- _ / ,�-'� \ \ ---- �-' 353 \ \ \\ ---------�' PART OF ASSESSMENT ------------- � _---' ' '� NOT A - - _ - _- 1 354 vv 431 DISTRICT v 371 _ - - - - __- _ 355 \\ `\ ASSESSMENT DISTRICT EXTENTS ------ ------- ------ ------ ------ ------ 356 vvv �� PARCEL LINE 00 N i,------------ i � 432 LOT LINE Lci ( 357 370 359 358 vvv �v 100 LOT NUMBER o ' 365 364 363 362 361 360 433 01-01-9 -99. > ->00 ASSESSMENT NO.= CFD # -ASSESSMENT DISTRICT - I ` \ 352 �� DEVELOPMENT UNIT # -PARCEL # -LOT # 369 �i i �v 351co o 350 c 349 434 368 i 348 / 347 Q 346 1 1 342 343 344 345 340 341 367 / 436 435 / -- ------ ci 437 366 - - _ _ 438 J/ / z - - __-"- 439 / O - ----- - O / \ 338 Entellus337339 1TM 334 336 3033 N. 44th Street, Suite 250 --------------------------------- 335 i z Phoenix. AZ 85018 U 1 I Tel 602.244.2566 Fax 602.244.8947 o Website www.entelaw.com I 1 SUPERSTITION VISTAS COMMUNITY FACILITIES z DISTRICT NO. 1 APACHE JUNCTION, ARIZONA > co N PARCEL NO. 19. 12 LO Call at lew tao TtA wor1(Ir1Q day8 O before you begin excavadomASSESSMENT DISTRICT NO. 1 0 80 40 0 80 160 s SHEET TOTAL Bkre9talae� DRAWN BY: JA DESIGN BY: JA CHECK BY: TC NO: SHEETS J &1-1 or 1.800-STAKE-IT W SCALE: 1 "= 80 InNbrlooaoanty(WO 2es-ltoo DATE: 04/21/2023 ENT PROD #: 745.028A 05 06 LOT TABLE LOT TABLE LOT TABLE LOT NO. AREA(SQ.FT) ASSESSMENT NO. LOT NO. AREA(SQ.FT) ASSESSMENT NO. LOT NO. AREA(SQ.FT) ASSESSMENT NO. LOT: 216 4,876 01-01-1-19.13-216 LOT: 236 4,760 01-01-1-19,13-236 LOT: 256 4,760 01-01-1-19.13-256 LOT: 217 4,869 01-01-1-19.13-217 LOT: 237 4,760 01-01-1-19.13-237 LOT: 257 4,760 01-01-1-19.13-257 LOT: 218 4,869 01-01-1-19.13-218 LOT: 238 4,760 01-01-1-19.13-238 LOT: 258 4,760 01-01-1-19.13-258 LOT: 219 4,886 01-01-1-19.13-219 LOT: 239 4,760 01-01-1-19,13-239 LOT: 259 4,760 01-01-1-19.13-259 LOT: 220 4,886 01-01-1-19.13-220 LOT: 240 4,953 01-01-1-19.13-240 LOT: 260 4,760 01-01-1-19.13-260 ___---- - LOT: 221 4,868 01-01-1-19.13-221 LOT: 241 4,959 01-01-1-19.13-241 LOT: 261 4,760 01-01-1-19.13-261 - -', -------------- - LOT: 222 4,868 01-01-1-19.13-222 LOT: 242 4,959 01-01-1-19.13-242 LOT: 262 4,760 01-01-1-19.13-262 LOT: 223 4,886 01-01-1-19.13-223 LOT: 243 4,959 01-01-1-19.13-243 LOT: 263 4,780 01-01-1-19.13-263 -_ LOT: 224 4,860 01-01-1-19.13-224 LOT: 244 4,959 01-01-1-19.13-244 LOT: 264 4,780 01-01-1-19.13-264 LOT: 225 4,860 01-01-1-19.13-225 LOT: 245 4,959 01-01-1-19.13-245 LOT: 265 4,780 01-01-1-19.13-265 ' LOT: 226 4,860 01-01-1-19.13-226 LOT: 246 4,959 01-01-1-19.13-246 LOT: 266 4,780 01-01-1-19.13-266 r / LOT: 227 4,860 01-01-1-19.13-227 LOT: 247 4,959 01-01-1-19.13-247 LOT: 267 4,780 01-01-1-19.13-267 --_---- LOT: 228 4,860 01-01-1-19.13-228 LOT: 248 4,800 01-01-1-19.13-248 LOT: 268 4,780 01-01-1-19.13-268 LOT: 229 4,860 01-01-1-19.13-229 LOT: 249 4,801 01-01-1-19.13-249 LOT: 269 4,782 01-01-1-19.13-269 i�/_7 LOT: 230 4,860 01-01-1-19.13-230 LOT: 250 4,801 01-01-1-19.13-250 LOT: 270 4,998 01-01-1-19.13-270 LOT: 231 5,114 01-01-1-19.13-231 LOT: 251 4,801 01-01-1-19.13-251 LOT: 271 5,004 01-01-1-19.13-271 I 1 LOT: 232 4,938 01-01-1-19.13-232 LOT: 252 4,801 01-01-1-19.13-252 LOT: 272 5,004 01-01-1-19.13-272 I _ _--- ` LOT: 233 4,760 01-01-1-19.13-233 LOT: 253 4,801 01-01-1-19.13-253 LOT: 273 5,004 01-01-1-19.13-273 I ---- ` LOT: 234 4,760 01-01-1-19.13-234 LOT: 254 4,801 01-01-1-19.13-254 LOT: 274 5,003 01-01-1-19.13-274 \ LOT: 235 4,760 01-01-1-19.13-235 LOT: 255 4,799 01-01-1-19.13-255 LOT: 275 5,002 01-01-1-19.13-275 ` LOT TABLE LOT TABLE LOT TABLE I 1 i 1 317 315 316 LOT NO. AREA(SQ.FT) ASSESSMENT NO. LOT NO. AREA(SQ.FT) ASSESSMENT NO. LOT NO. AREA(SQ.FT) ASSESSMENT NO. 1 1 1 302 303 304 305 306 307 308 309 310 311 312 313 314 LOT: 276 4,818 Ot-Ot-1-19.13-276 LOT: 296 4,960 01-01-1-19.13-296 LOT: 316 5,002 01-01-1-19.13-316 318 LOT: 277 4,819 01-01-1-19.13-277 LOT: 297 4,960 01-01-1-19.13-297 LOT: 317 8,535 01-01-1-19.13-317 -� LOT: 278 4,819 01-01-1-19.13-278 LOT: 298 4,960 01-01-1-19.13-298 LOT: 318 8,862 01-01-1-19.13-318 --- LOT: 279 4,818 01-01-1-19.13-279 LOT: 299 4,960 01-01-1-19.13-299 LOT: 319 5,817 01-01-1-19.13-319 ---- ---- -----I ---- --- � I LOT: 280 4,818 01-01-1-19.13-280 LOT: 300 5,157 01-01-1-19.13-300 LOT: 320 4,959 01-01-1-19.13-320 - I 319 i LOT: 281 4,817 01-01-1-19.13-281 LOT: 301 5,106 01-01-1-19.13-301 LOT: 321 4,955 01-01-1-19.13-321 ' - - - - - - _ LOT: 282 4,778 01-01-1-19.13-282 LOT: 302 4,956 01-01-1-19.13-302 LOT: 322 4,947 01-01-1-19.13-322 ' _ LOT: 283 4,780 01-01-1-19.13-283 LOT: 303 4,960 01-01-1-19.13-303 LOT: 323 4,938 01-01-1-19.13-323 ___ --- ----:01 ----- ' 320 LOT: 284 4,780 01-01-1-19.13-284 LOT: 304 4,760 01-01-1-19.13-304 LOT: 324 4,929 01-01-1-19.13-324 ( 1 r----- LOT: 285 4,780 01-01-1-19.13-285 LOT: 305 4,760 01-01-1-19.13-305 LOT: 325 4,942 01-01-1-19.13-325 LOT: 286 4,780 01-01-1-19.13-286 LOT: 306 4,760 01-01-1-19.13-306 LOT: 326 4,973 01-01-1-19.13-326 1 278 277 276 II __-- 288 287 286 285 284 283 282 281 z80 279 LOT: 287 4,780 01-01-1-19.13-287 LOT: 307 4,760 01-01-1-19.13-307 LOT: 327 4,995 01-01-1-19.13-327 I 1 � 1 - LOT: 288 4,780 01-01-1-19.13-288 LOT: 308 4,760 01-01-1-19.13-308 LOT: 328 5,006 01-01-1-19.13-328 300 _ LOT: 289 5,044 01-01-1-19.13-289 LOT: 309 4,760 01-01-1-19.13-309 LOT: 329 5,006 01-01-1-19.13-329 I 1 _ LOT: 290 5,121 01-01-1-19,13-290 LOT: 310 4,827 01-01-1-19.13-310 LOT: 330 5,006 01-01-1-19.13-330 299 / LOT: 291 4,960 Ot-Ot-1-19.13-291 LOT: 311 4,869 01-01-1-19.13-311 LOT: 331 5,006 Ot-Ot-1-19.13-331 I I '- ' LOT: 292 4,960 01-01-1-19.13-292 LOT: 312 4,877 01-01-1-19.13-312 LOT: 332 5,006 01-01-1-19.13-332 V 321 LOT: 293 4,960 01-01-1-19.13-293 LOT: 313 4,865 01-01-1-19.13-313 LOT: 333 5,006 01-01-1-19.13-333 298 LOT: 294 4,960 01-01-1-19.13-294 LOT: 314 4,833 01-01-1-19.13-314 275 LOT: 295 4,960 01-01-1-19.13-295 LOT: 315 5,042 01-01-1-19.13-315 j I 1 263 264 265 266 267 268 269 270 271 272 273 274 322 I i i j 297 r ----- -----II ----- r 323 ---- ---- ---------- j 296 ` - - 1 324 295 ---------- �' ---- ---------- ---- 1� ----- ---- ---- i 325 252 250 248 251 249 i 294 262 261 260 259 258 257 256 255 254 253 326 I I I I I I I i I i I I I I I I 1 I I 293 j 327 C-4 N 292 1 1 I I I i I 328 Q j 291 j 242 244 245 243 246 247 II LEGEND: 233 234 235 236 237 238 239 240 241 I I 329 Q 290 I ____II ASSESSED IMPROVEMENTS ----- (REVERENCE ROAD) --- ---- ----- - ----- 330 289 _ - - - NOT A PART OF ASSESSMENT - - - - - - - - ----I 331 DISTRICT ------ ASSESSMENT DISTRICT EXTENTS ---- ---- ---- - a PARCEL LINE 23> 230 229 228 227 226 225 224 223 222 00 221 220 219 218 217 216 illl 332 LOT LINE 23z 100 LOT NUMBER \11 i 333 ASSESSMENT NO.= CFD # -ASSESSMENT DISTRICT - c I ------------- 01 -01 -1 -19. 1-100 DEVELOPMENT UNIT # -PARCEL # -LOT # I \ I I U I \ I L I co I \ I p I \ I I \ I I \ I E Q a II A I U I \ I O I \ I I I I \ I / 1 Z O U A 1 \ p Oe, O EntellusTM 8083 N. 44th Street, Suite 250 z Phoenix. AZ 85018 Tel 602.244.2566 Fax 602.244.8947 o Website www.entelaw.com SUPERSTITION VISTAS COMMUNITY FACILITIES z DISTRICT NO. 1 APACHE JUNCTION, ARIZONA > co PARCEL NO. 19. 13 N OW1 at Iea8t two full wor�r1Q va�/-a O / before you begin excavadomASSESSMENT DISTRICT NO. 1 0 80 40 0 80 160 s SHEET TOTAL Bkre9talae� DRAWN BY: JA DESIGN BY: JA CHECK BY: TC NO: SHEETS J &1-1 or 1.800-STAKE-IT W SCALE: 1 "= 80 InNbricoaOmmV(OW 2es-1100 DATE: 04/21/2023 ENT PROJ #: 745.028A 06 06 SUPERSTITION VISTAS CFD NO 1 . ROLL CALL DATE: TIME: P YES EXCUSED NO CHAIRPERSON WILSON VICE CHAIRPERSON SCHROEDER BOARDMEMBER CROSS BOARDMEMBER HECK BOARDMEMBERJOHNSON BOARDMEMBER NESSER ✓ BOARDMEMBER SOLLER District Manager Bryant Powell Assistant District Manager Matt Busby District Clerk Jennifer Pena t/ Deputy District Clerk Evie McKinney District Attorney Joel Stern District Director Mike Loggins District Treasurer Leslie DeReche District Administrative Assistant Rita Vineyard District Billing Supervisor Stacey Ramirez District Controller Connie Chow Utility Director Ted Wolff District Project Manager Charles Briggs Public Information Officer Al Bravo Finance Kimberly Heldt S:\Templates&Forms\Roll Call-SVCFD NO 2-Attendance.doc SUPERSTION VISTAS CFD NO 1. VOTE - ROLL CALL NOTES: ITEM # 8 °� 3J ��' MEETING OF MOTION BY: �4'lJV`-' SECONDED BY: YES NO ABSTAINED BOARD MEMBERS: BOARDMEMBER SOLLER VICE CHAIRPERSON SCHROEDER / BOARDMEMBER NESSER v BOARDMEMBER CROSS BOARDIVIEMBER HECK BOARDMEMBER JOHNSON CHAIRPERSON WILSON TOTAL UNANIMOUS IN FAVOR OPPOSED ABSTAINED TOTAL Vote sheet 1 s:\templates&forms\vote call-svcfd no 1.docx SUPERSTION VISTAS CFD NO 1. VOTE - ROLL CALL NOTES: � - oo ITEM # MEETING OF 3 MOTION BY: SECONDED BY: YES NO ABSTAINED BOARD MEMBERS: BOARDMEMBER NESSER BOARDMEMBER JOHNSON BOARDMEMBER CROSS I/ BOARDMEMBER HECK I// BOARDMEMBER SOLLER 1/ VICE CHAIRPERSON SCHROEDER CHAIRPERSON WILSON TOTAL UNANIMOUS IN FAVOR OPPOSED ABSTAINED TOTAL Vote sheet 2 s:\templates&forms\vote call-svcfd no 1.docx SUPERSTION VISTAS CFD NO 1. VOTE - ROLL CALL NOTES: ITEM #21 MEETING OF MOTION BY: SECONDED BY: YES NO ABSTAINED BOARD MEMBERS: BOARDMEMBER CROSS / BOARDMEMBER NESSER V BOARDMEMBER SOLLER BOARDMEMBER JOHNSON VICE CHAIRPERSON SCHROEDER BOARDMEMBER HECK CHAIRPERSON WILSON TOTAL UNANIMOUS IN FAVOR OPPOSED ABSTAINED TOTAL Vote sheet 3 s:\templates&forms\vote call-svcfd no 1.docx ppACH J CITY OF APACHE JUNCTION ,o 5 SUPERSTITION VISTA 170 COMMUNITY FACILITIES DISTRICT No. 1 Tuesday, May 16, 2023 A. CALL TO ORDER wound like tacalI h.e, .Supe ,stitron Vistas Communi#y:F.acilit es D stnctNo, 1 ,Meeting of M,ay 16,r 2023, to .order, B. ROLL CALL C. AGENDA 1. Consideration bf approval of minutes of the meeting of May 17, 2022. Do 1 have a motion wait for the motion and the 2nd. Roll Cal HALR 1NILSON:READ TH:fS. The next 3.iterns-all:relate to Su e;rstitron UistasgCF. 1, soxl=will combine t:h,e publichearng,for<all :throe, ,but each item wi',II have e. ,;crate motion Lwill,,now haute the-Clierk read:;all hires items and.�th;eur full£titl[es. Call.on Evie D. PUBLIC HEARINGS tern Nurnber;2 Call �on.�LesIie " 2. Public Hearing on the feasibility report for a proposed project to be financed by the issuance of the Superstition Vistas Community Facilities District No. 1 Assessment District No. 1 Special assessment Bonds. n', discuss,i,oniamon_ th;e�board,:,,; Board can discuss. will now o • en the • ubliic hearin111 to,al all three items.1 Would ra MEMO.ne Iike t • eak on these items . public can speak for 5 min. will now close the • ubHe earin • s. There is no motion on this item Mayor. E, Number 3 :Call on Leslie 3. Presentation, discussion and consideration of Resolution No. 2023-001 SVCFD No. 1 , a resolution of the district board of Superstition Vistas Community Facilities District No. 1 relating to approval of the feasibility report for the acquisition and financing of certain improvements benefitting the district; approving the prior giving of notice of hearing relating to the feasibility report; declaring the district board's intention to acquire the improvements described in the feasibility report; forming an assessment district; determining that special assessment bonds may be issued to finance the costs and expenses of the improvements; declaring the improvements to be of more than local or ordinary public benefit and that the costs of the improvements will be assessed upon Assessment District No. 1 ; and ordering the public infrastructure projects performed. n dFITINsionIII mon • the board? Board can discuss. o I have a motion Wait for the motion and second o I Call tem Number 4 :.Call on Leslie: 4. Presentation, discussion, and consideration of Resolution No. 2023-002 SVCFD No. 1 , a resolution of the district board of Superstition Vistas Community Facilities District No. 1 approving the levying of an assessment and assessment diagram for Assessment District No. 1 within the district. ROORMIscussion amon • the board? Board can discuss. o I have a motion Wait for the motion and second oll Call E. DISTRICT MANAGER REPORT--none F. DISTRICT DIRECTOR REPORT- none G. DISTRICT TREASURER REPORT - none H. -ADJOURNMENT eetiMe A W 'ourned. Next meet�in set forTuesda , June 06, 202h 05116/202I'MOTIONS ITEM NO. 1 - APPROVAL OF MINUTES I MOVE THAT THE MINUTES OF THE MAY 17, 2022, MEETING (BE APPROVED) OR (BE DENIED). ITEM NO. 3 1 MOVE THAT RESOLUTION NO. 2023-001 SVCFD NO. 1, A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1 APPROVING THE FEASIBILITY :REPORT RELATING TO THE ACQUISITION AND FINANCING OF CERTAIN IMPROVEMENTS - BENEFITTING THE DISTRICT; APPROVING THE PRIOR GIVING OF NOTICE OF HEARING RELATING TO THE FEASIBILITY REPORT; DECLARING ;ITS INTENTION TO . ACQUIRE CERTAIN IMPROVEMENTS DESCRIBED IN THE FEASIBILITY REPORT; FORMING AN ASSESSMENT DISTRICT; DETERMINING THAT SPECIAL ASSESSMENT BONDS MAY BE ISSUED TO FINANCE THE COSTS AND EXPENSES THEREOF UNDER THE PROVISIONS OF TITLE 48, CHAPTER 4, ARTICLE 6, ARIZONA REVISED STATUTES, AND ALL AMENDMENTS THERETO; DECLARING THE IMPROVEMENTS TO BE OF MORE THAN LOCAL OR ORDINARY PUBLIC BENEFIT AND THAT THE COSTS OF SAID IMPROVEMENTS WILL BE ASSESSED UPON THE ASSESSMENT DISTRICT; AND ORDERING THE PUBLIC INFRASTRUCTURE PROJECTS PERFORMED. (BE APPROVED) OR (BE DENIED). ITEM NO. 4 1 MOVE THAT RESOLUTION NO. 20237002 SVCFD NO.1 , A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1 APPROVING THE LEVYING OF AN ASSESSMENT AND ASSESSMENT DIAGRAM FOR ASSESSMENT DISTRICT NO. 1 WITHIN THE SUPERSTITION VISTAS COMMUNITY FACILITIES DISTRICT NO. 1. (BE APPROVED) OR (BE DENIED).