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Home My WebLink AboutOrd 1157-2025-07 Approving the 2025 Annual Service Plan Update for Meadow Vista PID RECORDED JULY 22, 2025 MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 1 INTRODUCTION Capitalized terms used in this 2025 Annual Service Plan Update shall have the meanings set forth in the Service and Assessment Plan (the “SAP”). The District was created pursuant to the PID Act by Resolution No. 2023-09-1558 on September 26, 2023, by the City Council to finance certain Authorized Improvements for the benefit of the property in the District. On July 9, 2024, the City Council approved Ordinance No. 1107-2024-07 which approved the levy of Assessments for Assessed Property within Improvement Area #1 and approved the Improvement Area #1 Assessment Roll. The SAP identified the Authorized Improvements to be constructed for the benefit of the Assessed Parcels within Improvement Area #1, the costs of the Authorized Improvements, the indebtedness to be incurred for the Authorized Improvements, and the manner of assessing the property in the District for the costs of the Authorized Improvements. Pursuant to the PID Act, the SAP must be reviewed and updated annually. This document is the Annual Service Plan Update for 2025. The City Council also adopted an Assessment Roll identifying the Assessments on each Lot within Improvement Area #1, based on the method of assessment identified in the SAP. This 2025 Annual Service Plan Update also updates the Assessment Roll for 2025. MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 2 PARCEL SUBDIVISION Improvement Area #1  The final plat of Meadow Vista Phase 1, attached hereto as Exhibit C-1, was filed and recorded with the County on May 7, 2025, and consists of 268 residential Lots and 5 Lots of Non-Benefited Property.  The final plat of Meadow Vista Phase 2, attached hereto as Exhibit C-2, was filed and recorded with the County on May 7, 2025, and consists of 7 residential Lots and 3 Lots of Non-Benefited Property. See the anticipated Lot Type classification summary within Improvement Area #1 below: See Exhibit D for the Lot Type classification map. LOT AND HOME SALES Per the Quarterly Report dated March 31, 2025, the Lot ownership composition is provided below: • Developer Owned: o Lot Type 1: 190 Lots o Lot Type 2: 85 Lots • Homebuilder Owned: o Lot Type 1: 0 Lots o Lot Type 2: 0 Lots • End-User Owned: o Lot Type 1: 0 Lots o Lot Type 2: 0 Lots See Exhibit E for the buyer disclosures. Lot Type Lot Count Total 275 Improvement Area #1 MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 3 AUTHORIZED IMPROVEMENTS The Developer has completed the Improvement Area #1 Improvements, and they were dedicated to the City in Q2 2025. OUTSTANDING ASSESSMENT Net of the principal bond payment due September 15, Improvement Area #1 has an outstanding Assessment of $12,806,000.00. ANNUAL INSTALLMENT DUE 1/31/2026  Principal and Interest – The total principal and interest required for the Annual Installment is $902,455.00.  Additional Interest – The total Delinquency and Prepayment Reserve Requirement, as defined in the Indenture, is equal to $704,330.00 and has not been met. As such, the Delinquency and Prepayment Reserve Account will be funded with Additional Interest on the outstanding Assessments, resulting in an Additional Interest amount due of $64,030.00.  Annual Collection Costs – The cost of administering the District and collecting the Annual Installments shall be paid for on a pro rata basis by each Parcel based on the amount of outstanding Assessment remaining on the Parcel. The total Annual Collection Costs budgeted for the Annual Installment is $57,569.11. Total 57,569.11$ Annual Collection Costs MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 4 Please see the Limited Offering Memorandum for the Improvement Area #1 pay period. See Exhibit B for the debt service schedule for Improvement Area #1 Bonds as shown in the Limited Offering Memorandum. PREPAYMENT OF ASSESSMENTS IN FULL No full prepayments of Assessments have occurred within Improvement Area #1. PARTIAL PREPAYMENT OF ASSESSMENTS No partial prepayments of Assessments have occurred within Improvement Area #1. EXTRAORDINARY OPTIONAL REDEMPTIONS No Extraordinary Optional Redemptions have occurred within Improvement Area #1. SERVICE PLAN – FIVE YEAR BUDGET FORECAST The PID Act requires the annual indebtedness and projected costs for the Authorized Improvements to be reviewed and updated in the Annual Service Plan Update, and the projection shall cover a period of not less than five years. Total Annual Installment 1,024,054.11$ Improvement Area #1 Due January 31, 2026 Annual Installments Due 1/31/2026 1/31/2027 1/31/2028 1/31/2029 1/31/2030 Principal 189,000.00$ 198,000.00$ 208,000.00$ 218,000.00$ 229,000.00$ Interest 713,455.00 704,241.26 694,588.76 684,448.76 673,821.26 (1)902,455.00$ 902,241.26$ 902,588.76$ 902,448.76$ 902,821.26$ Additional Interest (2)64,030.00$ 63,085.00$ 62,095.00$ 61,055.00$ 59,965.00$ Annual Collection Costs (3)57,569.11$ 50,388.00$ 51,395.76$ 52,423.68$ 53,472.15$ Total Annual Installment (4) = (1) + (2) + (3)1,024,054.11$ 1,015,714.26$ 1,016,079.52$ 1,015,927.44$ 1,016,258.41$ Improvement Area #1 MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 5 ASSESSMENT ROLL The list of current Parcels or Lots within the District, the corresponding total Assessments, and current Annual Installment are shown on the Assessment Roll attached hereto as Exhibit A. The Parcels or Lots shown on the Assessment Roll will receive the bills for the 2025 Annual Installments which will be delinquent if not paid by January 31, 2026. The list of Parcels shown on the Assessment Roll is subject to change based on the final certified rolls provided by the County prior to billing. MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 6 EXHIBIT A – ASSESSMENT ROLL 2945428 1 43,856.16$ 3,507.03$ 2945429 2 52,627.40$ 4,208.44$ 2945430 1 43,856.16$ 3,507.03$ 2945431 2 52,627.40$ 4,208.44$ 2945432 1 43,856.16$ 3,507.03$ 2945433 2 52,627.40$ 4,208.44$ 2945434 2 52,627.40$ 4,208.44$ 2945435 1 43,856.16$ 3,507.03$ 2945436 2 52,627.40$ 4,208.44$ 2945437 2 52,627.40$ 4,208.44$ 2945438 1 43,856.16$ 3,507.03$ 2945439 1 43,856.16$ 3,507.03$ 2945440 2 52,627.40$ 4,208.44$ 2945441 1 43,856.16$ 3,507.03$ 2945442 2 52,627.40$ 4,208.44$ 2945443 2 52,627.40$ 4,208.44$ 2945444 2 52,627.40$ 4,208.44$ 2945445 1 43,856.16$ 3,507.03$ 2945446 2 52,627.40$ 4,208.44$ 2945447 1 43,856.16$ 3,507.03$ 2945448 2 52,627.40$ 4,208.44$ 2945449 1 43,856.16$ 3,507.03$ 2945450 1 43,856.16$ 3,507.03$ 2945451 1 43,856.16$ 3,507.03$ 2945452 2 52,627.40$ 4,208.44$ 2945453 2 52,627.40$ 4,208.44$ 2945454 1 43,856.16$ 3,507.03$ 2945455 2 52,627.40$ 4,208.44$ 2945456 1 43,856.16$ 3,507.03$ 2945457 2 52,627.40$ 4,208.44$ 2945458 2 52,627.40$ 4,208.44$ 2945459 1 43,856.16$ 3,507.03$ 2945460 1 43,856.16$ 3,507.03$ 2945461 1 43,856.16$ 3,507.03$ 2945462 2 52,627.40$ 4,208.44$ 2945463 1 43,856.16$ 3,507.03$ 2945464 2 52,627.40$ 4,208.44$ 2945465 1 43,856.16$ 3,507.03$ 2945466 2 52,627.40$ 4,208.44$ 2945467 1 43,856.16$ 3,507.03$ MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 7 Property ID[b]Lot Type Outstanding Assessment Annual Installment Due 1/31/2026 Improvement Area #1[a] MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 8 Property ID[b]Lot Type Outstanding Assessment Annual Installment Due 1/31/2026 Improvement Area #1[a] MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 9 Property ID[b]Lot Type Outstanding Assessment Annual Installment Due 1/31/2026 Improvement Area #1[a] MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 10 Property ID[b]Lot Type Outstanding Assessment Annual Installment Due 1/31/2026 Improvement Area #1[a] MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 11 Property ID[b]Lot Type Outstanding Assessment Annual Installment Due 1/31/2026 Improvement Area #1[a] MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 12 Property ID[b]Lot Type Outstanding Assessment Annual Installment Due 1/31/2026 Improvement Area #1[a] MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 13 Property ID[b]Lot Type Outstanding Assessment Annual Installment Due 1/31/2026 Total 12,806,000.00$ 1,024,053.10$ Improvement Area #1[a] MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 14 EXHIBIT B – IMPROVEMENT AREA #1 DEBT SERVICE SCHEDULE MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 15 EXHIBIT C-1 – FINAL PLAT OF MEADOW VISTA PHASE 1 MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 16 MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 17 EXHIBIT C-2 – FINAL PLAT OF MEADOW VISTA PHASE 2 MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT 2025 ANNUAL SERVICE PLAN UPDATE 18 EXHIBIT D – LOT TYPE CLASSIFICATION MAP EXHIBIT E – BUYER DISCLOSURES Buyer disclosures for the following Lot Types are found in this Exhibit:  Improvement Area #1 o Lot Type 1 o Lot Type 2 MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT – IMPROVEMENT AREA #1 – LOT TYPE 1 BUYER DISCLOSURE NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT A person who proposes to sell or otherwise convey real property that is located in a public improvement district established under Subchapter A, Chapter 372, Local Government Code (except for public improvement districts described under Section 372.005), or Chapter 382, Local Government Code, shall first give to the purchaser of the property this written notice, signed by the seller. For the purposes of this notice, a contract for the purchase and sale of real property having a performance period of less than six months is considered a sale requiring the notice set forth below. This notice requirement does not apply to a transfer: 1) under a court order or foreclosure sale; 2) by a trustee in bankruptcy; 3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary of a deed of trust by a trustor or successor in interest; 4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land at a sale conducted under a power of sale under a deed of trust or a sale under a court- ordered foreclosure or has acquired the land by a deed in lieu of foreclosure; 5) by a fiduciary in the course of the administration of a decedent's estate, guardianship, conservatorship, or trust; 6) from one co-owner to another co-owner of an undivided interest in the real property; 7) to a spouse or a person in the lineal line of consanguinity of the seller; 8) to or from a governmental entity; or 9) of only a mineral interest, leasehold interest, or security interest The following notice shall be given to a prospective purchaser before the execution of a binding contract of purchase and sale, either separately or as an addendum or paragraph of a purchase contract. In the event a contract of purchase and sale is entered into without the seller having provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate the contract. A separate copy of this notice shall be executed by the seller and the purchaser and must be filed in the real property records of the county in which the property is located at the closing of the purchase and sale of the property. AFTER RECORDING1 RETURN TO: ____________________ ____________________ ____________________ ____________________ ____________________ NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO CITY OF ANNA, TEXAS CONCERNING THE FOLLOWING PROPERTY __________________________________________ STREET ADDRESS IMPROVEMENT AREA #1 LOT TYPE 1 PRINCIPAL ASSESSMENT: $43,856.16 As the purchaser of the real property described above, you are obligated to pay assessments to the City of Anna, Texas, for the costs of a portion of a public improvement or services project (the "Authorized Improvements") undertaken for the benefit of the property within Meadow Vista Public Improvement District (the "District") created under Subchapter A, Chapter 372, Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from the City of Anna. The exact amount of each annual installment will be approved each year by the Anna City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates, may be obtained from the City of Anna. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. _________________ 1 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Collin County when updating for the Current Information of Obligation to Pay Improvement District Assessment. Signature Page to Initial Notice of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned seller acknowledges providing this notice to the potential purchaser before the effective date of a binding contract for the purchase of the real property at the address described above. ______________ 2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1), Tex. Prop. Code. Purchaser Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. STATE OF TEXAS § § COUNTY OF _______ § The foregoing instrument was acknowledged before me by ____________________ and _________________ , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this _________________ , 20__. Notary Public, State of Texas]3 ______________ 3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Collin County. Seller Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned seller acknowledges providing a separate copy of the notice required by Section 5.014 of the Texas Property Code including the current information required by Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the address above. STATE OF TEXAS § § COUNTY OF ________ § The foregoing instrument was acknowledged before me by ____________________ and _________________ , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this _________________ , 20__. Notary Public, State of Texas]4 ______________ 4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Collin County. Annual Installment Due 1/31 Principal Interest[a] Additional Interest Annual Collection Costs Annual Installment[b] Total 43,856.16$ 46,611.95$ 4,113.24$ 6,590.77$ 101,172.12$ Footnotes: ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LOT TYPE 1 MEADOW VISTA PUBLIC IMPROVEMENT DISTRICT – IMPROVEMENT AREA #1 – LOT TYPE 2 BUYER DISCLOSURE NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT A person who proposes to sell or otherwise convey real property that is located in a public improvement district established under Subchapter A, Chapter 372, Local Government Code (except for public improvement districts described under Section 372.005), or Chapter 382, Local Government Code, shall first give to the purchaser of the property this written notice, signed by the seller. For the purposes of this notice, a contract for the purchase and sale of real property having a performance period of less than six months is considered a sale requiring the notice set forth below. This notice requirement does not apply to a transfer: 1) under a court order or foreclosure sale; 2) by a trustee in bankruptcy; 3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary of a deed of trust by a trustor or successor in interest; 4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land at a sale conducted under a power of sale under a deed of trust or a sale under a court- ordered foreclosure or has acquired the land by a deed in lieu of foreclosure; 5) by a fiduciary in the course of the administration of a decedent's estate, guardianship, conservatorship, or trust; 6) from one co-owner to another co-owner of an undivided interest in the real property; 7) to a spouse or a person in the lineal line of consanguinity of the seller; 8) to or from a governmental entity; or 9) of only a mineral interest, leasehold interest, or security interest The following notice shall be given to a prospective purchaser before the execution of a binding contract of purchase and sale, either separately or as an addendum or paragraph of a purchase contract. In the event a contract of purchase and sale is entered into without the seller having provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate the contract. A separate copy of this notice shall be executed by the seller and the purchaser and must be filed in the real property records of the county in which the property is located at the closing of the purchase and sale of the property. AFTER RECORDING1 RETURN TO: ____________________ ____________________ ____________________ ____________________ ____________________ NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO CITY OF ANNA, TEXAS CONCERNING THE FOLLOWING PROPERTY __________________________________________ STREET ADDRESS IMPROVEMENT AREA #1 LOT TYPE 2 PRINCIPAL ASSESSMENT: $52,627.40 As the purchaser of the real property described above, you are obligated to pay assessments to the City of Anna, Texas, for the costs of a portion of a public improvement or services project (the "Authorized Improvements") undertaken for the benefit of the property within Meadow Vista Public Improvement District (the "District") created under Subchapter A, Chapter 372, Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from the City of Anna. The exact amount of each annual installment will be approved each year by the Anna City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates, may be obtained from the City of Anna. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. _________________ 1 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Collin County when updating for the Current Information of Obligation to Pay Improvement District Assessment. Signature Page to Initial Notice of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned seller acknowledges providing this notice to the potential purchaser before the effective date of a binding contract for the purchase of the real property at the address described above. ______________ 2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1), Tex. Prop. Code. Purchaser Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. STATE OF TEXAS § § COUNTY OF _______ § The foregoing instrument was acknowledged before me by ____________________ and _________________ , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this _________________ , 20__. Notary Public, State of Texas]3 ______________ 3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Collin County. Seller Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned seller acknowledges providing a separate copy of the notice required by Section 5.014 of the Texas Property Code including the current information required by Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the address above. STATE OF TEXAS § § COUNTY OF ________ § The foregoing instrument was acknowledged before me by ____________________ and _________________ , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this _________________ , 20__. Notary Public, State of Texas]4 ______________ 4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Collin County. Annual Installment Schedule to Notice of Obligation to Pay Improvement District Assessment Annual Installment Due 1/31 Principal Interest[a] Additional Interest Annual Collection Costs Annual Installment[b] Total 52,627.40$ 55,934.34$ 4,935.88$ 7,908.93$ 121,406.55$ Footnotes: ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LOT TYPE 2