CITY OF MUSTANG RIDGENOTICE OF PUBLIC HEARING Pursuant to Section 372.009(c) and (d) of the Texas Local Government Code, (the "Act"), notice is hereby given that the City Council of the City of Mustang Ridge, Texas, will hold a public hearing to accept public comments and discuss a petition (the "Petition") filed by JST HOLDINGS QOZB, LLC, a New Mexico limited liability company (the "Petitioner"), owner of taxable real property within the area proposed for a public improvement district, requesting that the City create Evelyn Ranch Public Improvement District (the "District") to include property owned by the Petitioner (the "Property"). Time and Place of Hearing: The public hearing will start at 6:30 p.m. on November 10, 2025, at the City Municipal Building, 12800 US Hwy 183 S, Mustang Ridge, Texas 78610. General Nature of the Authorized Improvements: The general nature of the proposed public improvements (collectively, the "Authorized Improvements") may include, but not limited to: (i) landscaping; (ii) erection of fountains, distinctive lighting, and signs; (iii) acquiring, constructing, improving, widening, narrowing, closing, or rerouting of sidewalks or of streets, any other roadways, or their rights-of-way; (iv) construction or improvement of pedestrian malls; (v) acquisition and installation of pieces of art; (vi) acquisition, construction, or improvement of libraries; (vii) acquisition, construction, or improvement of off-street parking facilities; (viii) acquisition, construction, improvement, or rerouting of mass transportation facilities; (ix) acquisition, construction, or improvement of water, wastewater, or drainage facilities or improvements; (x) the establishment or improvement of parks; (xi) projects similar to those listed in Subdivisions (i)-(x); (xii) acquisition, by purchase or otherwise, of real property in connection with an authorized improvement; (xiii) special supplemental services for improvement and promotion of the District, including services relating to advertising, promotion, health and sanitation, water and wastewater, public safety, security, business recruitment, development, recreation, and cultural enhancement; (xiv) payment of expenses incurred in the establishment, administration, and operation of the District; (xv) the development, rehabilitation, or expansion of affordable housing; and (xvi) payment of expenses associated with financing such public improvement projects, which may include but are not limited to, costs associated with the issuance and sale of revenue bonds secured by assessments levied against the Property within the District. These Authorized Improvements shall promote the interests of the City and confer a special benefit upon the Property. Estimated Costs of the Authorized Improvements: The estimated costs of constructing and acquiring all of the currently proposed Authorized Improvements, together with bond issuance costs, legal and financial fees, letter of credit fees and expenses, bond credit enhancement expenses, capitalization of bond interest, the creation of a bond reserve fund, expenses incurred in the establishment, administration and operation of the District and acquisition, by purchase or otherwise, of real property or contract rights in connection with each authorized improvement, is presently estimated to be a total of approximately $5,000,000. Proposed District Boundary: The proposed District is proposed to include approximately 24.02 acres, all of which is located in the City of Mustang Ridge corporate limits and lies east of Highway 183, west of Evelyn Road, and north of Laws Road. A map and full description of the boundaries of the proposed District is available for public inspection during regular business hours at the City Municipal Building, 12800 US Hwy 183 S, Mustang Ridge, Texas 78610. Proposed Method of Assessment: The Petition requests that the City levy assessments on each parcel within the District in a manner that results in imposing equal shares of the costs of the Authorized Improvements, including maintenance costs, on property similarly benefited. All assessments may be paid in full at any time (including interest and principal), and certain assessments may be paid in annual installments (including interest and principal). If an assessment is allowed to be paid in installments, then the installments must be paid in amounts necessary to meet annual costs for those Authorized Improvements financed by the assessment and must continue for a period necessary to retire the indebtedness of those Authorized Improvements (including interest). Proposed Apportionment of Cost between the District and the City: The City will not be obligated to provide any funds to finance the Authorized Improvements, other than from assessments levied on the real property in the District. No municipal property in the District shall be assessed. Certain cost of the Authorized Improvements may be paid from funds available to the developer of the District. During the public hearing, any interested person may speak for or against the establishment of the District and the advisability of the improvements to be made for the benefit of the property within the District. October 24 2025 IPLAAS0107962