Legal Update as of March 25, 2025

The Districts have finalized a settlement agreement with Brookfield that resolves all issues in the pending litigation related to the bonds and maintenance/repair issues. Currently, the bond litigation is stayed pending satisfaction of the settlement agreement requirements. The District is in the process of bonding a total of $25,950,000. $23,500,000 will be issued to Brookfield and the remaining amount will be retained by the Districts for capital projects and to cover the costs of issuing the bonds. After such time as the bonds are issued, the case will be fully and finally dismissed. We anticipate that will be by the end of April.

In regards to Brookfield's plan to resume construction of the remaining residences, Filings 18 & 20 (located near the intersection of Yale and Orchard) are scheduled to begin in the April-May time frame. A date for construction of the remaining townhomes in the Cadence neighborhood (off McIntyre), is yet to be announced.