Thank you to end afternoon. like welcome, call, much. you all And upfront. welcome housekeeping year bit good to a I'd of very our earnings XXXX
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thing, First room I'm is sure the reference incorporated statements. forward-looking by that the lawyers presentation harbor you want are of statements contained which or are out our statement, forward-looking do we the statements. in familiar all safe always this with harbor facts statement, are historical not note get and to of safe
to of want I highlight that, business of aspects with So various the the company. kind
businesses. We a water the have utility three level, of DNA At company. lines a company is
connections. those single-family shorten SFEs. water service terms our of - we Taking of right? water in where define those portfolio, wastewater country a portfolio in those, a as develop of rights water metropolitan water area we number property, look the a measure services own and own and here of two we in area. our real at So equivalents, in the you We of Denver level as Denver can an We
in serve can and of connections to for terms approximately will portfolio translates our us. XX,XXX what accounts which that define SFEs, So
we development In water the addition opportunities. land to provide portfolio,
homebuilders X have acres, own or out about years minus plus XXX of we land to about homes. development, sell been have and we but we've into to at constructed been able started that national So that XXX acres lots
about we XXX XXX about constructed on. have we've So acres that homes
project feet duplexes, different units, which of the commercial the with segment then retail, leverage to industrial master whole of X,XXX a will seen So the we little will multi-family, is for bunch that in new planned units, accommodate we've detached also about points development build be of we where a have light commercial that, mix segment square we a really finally, commercial, our kind spectrum units, a residential products attached to that associated have on of over successes total, the And a And price and continue types of that. community. there area that. as a for project run X then which land of residential has million zone great uses the
to into back our our our that then from able lots partnering we and market. directly then We home construct other our and homebuilders and are homebuilder the sort holding some independent be to homes rental we contract homebuilders retain and and - single-family partners that of will of people homebuilders partners, with enter homebuilder working with
at those have through walk a a that are exciting the really lot some on on information. do I robust we purecyclewater.com, not presentations of that really detail there. of a podcasts on company. some There's want got to it do website, There's of you some a bunch the update of that lot on there our videos you as note there. gives to you and to well. details do we've been for very So website have There
pay segment, a where let get together for be water. - pricing connection continue a fee, water of covers the all to little and that company. this, with a portfolio of we for We our building instruments Colorado, homebuilders, and the monitor the that's do to into we the of for which a the goes building With utility infrastructure the of paid bit own here. by certainly system. wholesale there'll you that, opposed get bit is talk a about grave that tax a two cost the and large fee call, little water a We permit. of connection And this And water the and lot. that go the of all as differently that that wastewater success mechanism open of kind outside all a time to kind fee So in that at treats, system, with here they resource to wholesale of up We distributes where that. property cradle infrastructure really we to construct area that that of diverts, the me
of or mechanism We sewer same have And They're water that system tap fees well these fees as connection get reference the charges. providers either as all those fees. tap development Different area we that. fees. tap as in
So capital those large those are fees.
about And basis, that. for combined then there some of connection. on a are $XX,XXX you on per math doing So the
capital take you and on XX,XXX we use to all that that we'll spend rate, that to $X attributable billion dollars to construct probably, paying. building And worth you're have than get that's at usage we have, accustomed in that system. billion annual more serve the of those a look XX,XXX of If those $X that, Once little we facilities connections a we that topline that's connection, connections. what the an of about and a
bills. You get water monthly sewer your and
particular and really per we get here on on and get $X,XXX side, so water service connection about areas, $XXX the sewer per And side. - in the connection we about our Colorado in
about actually retreat that that, year $X,XXX from per customer on every we SFE generates supply. them, collect then We that So back that. and water we reuse and then per water
some a water customers. of system in that discharge irrigation have reusing zero industrial we our all outdoor we're that where and So bringing back through
at your water component to substantial this a through of conservation show leisure So you in and this to it's Talk years areas that kind then at we're definition the Ranch the picked little a you but area called bit, and this and too service Wild through Sky will detail I Ranch an water ago won't of where very of also area can to service up some SGE where a and of we - business reuse. our our a provide study much, we Lowry service couple acquisition Pointe. metropolitan
our manage of kind we those we're have have some facilities some of - on the And getting of the the a chart of systems we and have some potential So have. we that that where operators our we we of and things, those wastewater then are connections, customers. today, our licensed water for system. just that wholesale started. metrics XX,XXX of Kind we're are in growth our both operate If
this alone. X,XXX from. then customer just be those long, our connections through Albert where We Ranch, have runway connections. a us. build have or residential Ranch at Sky at we XX, County projection in just Albert come connections opportunity to the other those be opportunities of about will to of either for as through the And those out, a is relate that long Highway customers. both kind Sky the This Ranch coming XXX from continues service They come customers water And connections Lowry so commercial customers, will area
X time that. of of X left years got all So X,XXX year those within build projected connections out horizon, a more we've a on
So that land successful update, very plan our Sky we'll Ranch. development bit a little project talk about but in with master
our kick that. at corner of it come area. and of the Lowry kind impresses One encroached get and that. where kind they of our metropolitan And a a comparison folks the gives kind has for good when This is really is is service proximity company development, that the something of area, the southwest often the of is area service on certainly, questions for of on Ranch you the in you this I tires to which feel shot on and the
Aurora, side attractive Colorado relating land. predominantly in beneficiaries, as piece the the for and the system then the area, K-XX the Ranch left of the that asset location itself develop Lowry in assets fiduciary of here of The service so owned of held which of that is and Colorado. certainly, It's in Board, their metropolitan by of they roadway So and in trust with side largest area. right is education very is operate public That the is number state the a of Land State the a city our Colorado. to trust everything of right education. have They public is
the responsible are responsible that. all for they land of utilities attributable and we're for So side, development to the
area service will take this that water you're a that some as of able highlight feel Metropolitan thing, of area. you a So gives is This utilities. water and out to the you in to in it come our for at look and investments where if wastewater utility, make really comparison the to come our or as continue our just we our kind
are gas. So on our revenue had customers are for going down these little Pointe, years, industrial adding oil taps the in in our as be land three water Drilled sold Ranch capacity recent well Sky years, tremendous that development. bit year-over-year over Ranch we've little service attributable to as tracking and the a recent over to to areas going be capacity bit fee there. most mostly our most and Wild of both A growth for Sky through our adding and tap
on As than of X,XXX well, We're of we significantly of about lots. up and X,XXX in as development XXX to if We're can look of that I we but down square accommodate single-family think, I that commercial mentioned, multifamily, depending of some It more development million It get X,XXX, had translate. users acres. to because about type there. be about - SFEs. that could at originally about opportunities might that on a can commercial continuing XXX bump X,XXX couple you estimating what feet
activity area we're think the area I-XX Denver We're corridor. of all of an in the where metropolitan We're is located. the occurring. along ideally I
with frontage We mile development. an have I-XX right our of interchange at about X.X along
of of down on you in had that. will our area. the We This give original So XXX first spot we're in Denver view sweet of growth of activity all an kind the Drilling day. lots. aerial the an
or then minus sold will give about - XX you We out houses units of under that is And caps construction. number two plus those of there. kind have between difference are the approximately the XXX those occupied
So we of that that homebuilders total we currently two X. were of sold the completely XXX estimating the out have lots available under in that are We're Phase have homes XXX three that of their be QX Those remaining The few homebuilder lots lots or 'XX. the end estimating. we're the are much final other has sold going of by out pretty home. construction to a
date. that Any lots little highlight going are going are what fast. received there available of those A are bit out to about So we've fast.
revenue fee almost $XX to revenues date. lot that. in million re-imbursables. attributable $XX some also to We've then have tap we fees So And million we in recognized have
and governmental build we be public will that drainage the by on get we roads, as entities, reimbursed the curves for gutters, improvements So that. owned the other it,
in those KB are on to of of first about in received our These So KB, look a that for our $XX phase. second contracted total and project are our Taylor which phase, Morrison lots about the up of date. by have returning. second those here. phase, and balance lots. to We'll the we be Taking worth have are we that Richmond portfolio those about of build of XXX homebuilder which XXX as we we've of are to million going first continues the portfolio out. that partners, of re-imbursables, lots is our $XX.X million receive opened homebuilders our at is a a phase,
in D.R. about that building all XX continue to in we Challenger that. Lennar, second XXX have there Horton can retained our And We expand we've lots added to phase. that with into then an lots be additional as and
to lots going So lots of for market single-family rental hold segment our be going this thing. those those are XX to that we're
to have model can We and pursuant expect those the for homes February, company, they We'll XXX full million generate to model this start some hit homebuilders later million deliver lots timeframe. to home revenue to in speed about lots around start season the about $XX first The contracts our year. on $XX the so tap our our fees. constructing available March lot probably lots will
and the We $XX get worth those of to costs will construct. all and reimbursable attributable million that have improvements curbs that we'll back roads about
it $XX.X million is an to costs development of second our have sub-phase phase. estimated we bit. attributable in This So little total kind a
as So what for want looking lots deliver we're - builder wants our builder is them. our to partners
those. they pace so a like And them down to take in attributable certain to
construction under us, for installments. So nicely very X. in We're it carved four equal Phase X project on up Phase almost the and
these over grading with and We're number develop and still phases. into of the grading those the in if you, then total So in take In to work phases, micro Phase we're the at to sequentially have utilities X. each kind incremental utilities lots. the connections Phase we'll of the for doing the you our roll each these phase, almost complete of and cost phase attributable X attributable X, work Phase our P&L attributable each those, revenue lot a tap of look infrastructure to fee their
some of so that's not linear. And quite
So for end a that than idea X, lot all you sequencing also the up Phase of in of those out but phase. in of kind providing more re-imbursables public X could of and that upfront and improvements the times, each be of you some having then do Phase costs an grading
those that give thing at for lots the And in how that particular the percentage color about gross the a they they phase. and and some our by types of works total X being full other distribute million kind terms how out are this of close total then to you the lots look of of that that So statistics you whole. Phase of of builders, whole potential margin as will $XX XXX, about when the number lots
of information an kind is kind manage give understanding run this business very how segment. to you So helpful of we and this of
we a phase, what of probably go terribly better into If where a delivery. as phase many very first do or where that. agreement down company, you and this who either of sub-phase job working agreement follow lot want on will But we we development of finished partners have the structure you have in - us pay to homebuilder the a lot should three named, really an we're second our installments in they're
then is are is preference that that price per lot we on significantly our your your lot depending development the some is until tolerance so of where lot homebuilder a paying attributable at what we cost so what cost the that, all lot, delivery, to is carrying one And have. capital than price and we if finished do the that lot agreement include more prices
be here. that some going So is to of distributed
we platted lots have LDA the our the on closed have We that in structure. for three builders
So that's been the first takedown.
'XX. takedown we're second first one the projecting out close The to this that quarter at end of
builders final for the the then be and second wet and then the So is builder it's that LDA we payment under are when deliver the one structure our will finished structure. utilities that the payment the three under lot delivery
that big be payment. the So will
So be in we'll see it always come Those a at that. And at all at in once. coming block time. doesn't will a
really see trickle on those of revenue basis, deliver but you'll a do in. real that we So some time
summer. all expect next completed to We of that be
sub color mechanism So phase. a first phase and million for will as sub sort well. this $XX.X product bit delivery the first the pricing this of their Give be lot you more builder little type of by
single-family weren't what this we the looking that building there. for through segment. our that us about to if many looking continue developer. and of in some the is lots the able we're talk in themselves And rental appreciation what really the to value of not lots roll And the to in we're homes community equity and the take in here, being segment we are would for heard be of in we have Moving on, land you really,
Ranch community metropolitan And segment. is we're value bought and ago, area XX XX naturally in price this from at attributable appreciation their seeing home as much seeing in market tremendous of appreciation in to in XX% that growth the they're growth the and months who So really here particular as months. the Sky buyers home
our build that's kind also on of want shareholder value. by So to that. build recurring really, value revenue We attributable and asset appreciated to a that highly strategy really
we are of of of detached we demand little there seeing prices first within steady have the offerings variety have of weakness, with in to that now square XX other in in that time, types in see things delivered Some town bit we this. homes, and maintain days. that continue where rental a foot number those duplexes, competitive tremendous constructed a of about like we're lease kind configurations. either homes, We listing increases while budget have product that in homes all three on homes three we with for started three a And those is and homes were our and bedroom phase, ultimately, are and or what process rented
some appreciation price then constrained that the here's and demand Denver about for strength So And availability we're the just single-family marketplace. the in market statistics segment. market, show a homes of tremendous continued seeing the which just to these general in you within
much money, market cost where that lines where year. we money we lender, and we leverage like credit opportunity of XXX an to of segment, this the we with X% at that vertical finance per houses available sheet inexpensive So our very can balance our where the to these do can X%, it's us very have we are are some at that like fact appreciating and pg borrow us through for
you've So flow a even all this itself a but by positive take every monthly the arbitrage income look it, then thing, for unit a got there, just when we've have. you we that natural cash at got on
gives recurring per single-family on per And us XX of $X,XXX revenue that recurring we about single-family customers, when connection almost the our house $XX,XXX, get rental revenue. times so utility on market $XX,XXX
those just of nice in between this. about are the little So cost company We difference those value statistics it. the adds more shareholder house. three and delivered the the for A very bit and homes
appraised homes at capital market of was almost of $XXX,XXX us $XXX,XXX. about house the the for cost those value So the and
value we're able XX% for use So loan tremendous for us, though. to to financing, opportunity and
aspects so somewhere of kind well it homes into each of all got. likes worked for the of three constructing This us per you XX we've would and a year between of We're homes get bank second estimating It's it. far. as we our XX on our phase. very So progression give that
take to you of can in look but get out. it, homes November, And a great. opportunity kind execute if these leased we those terrific the for it things start and only get they these not us look if to things in March of So at this see on concept - delivery date it's was of built,
they A floor So you and have detailed photos can nice of oil visit bit about little product the kind that. very gas. how our on We'll more website. themselves, some and but plans of position
leasehold So gas to three previous this a was XX,XXX they've and company. a XX-acre provide position and It's companies. water the It's public this this. company on the laterals which sometimes of we a number in called attractive a of do combination a We've very It's oil drill Civitas. they XX,XXX-foot it's much field, as of got ability number foot, in because in a and company, operators of which area. brand-new largest to got with And got drill spacings operators is as formations a horizontally maybe large at here. spacing,
capacity each if over capacity, fracked. And have tremendous of we we're for drill they XX,XXX $XXX,XXX of a on that. spread well XX-acre then that well about amount sales gets have full in We spacing that averaging water this field of worth at build-out a
wells date. than Oil a And fracked about they $XX at were so barrel. there's $XX barrel much prices are been attractive more at to a XXX
the side. system of can wholesale more activity an is width across we in full of This water kind see highway the get and of other bottom from on scale where way footprint the water a Line Road all And our well. a of we the have I-XX, now. to field very all county, we the have large that illustration side up to way the is which the ability of the lot of Road County distribute as - we right So on just the the northern County side the
terrific filing first gas for It with very nice Fiscal in all every and XXXX, oil we a Taking doing almost well. was that we that us, completing a continue So what us of year as to metric the year growth. employee Sky been by Ranch. a employee partners look terms at we it and can that's segment challenging companies for of of were our measure. I'd was for say, retention, a at in work
team challenge. And I you're company has we're building deliver to turning office continued and the We're of say, things. so in would because you're and throughout that a valves our critical the type
do brand-new got full we've of full that. a portfolio and the then terrific that start business a us. And folks job line just execution on from also to a So finish for of launch
So side. of great financial year, the also but not the terms side, operating in only on
always we're million. like $XX when highlight good to I of talking about this. So financing of years our the Revenues
able attributable have and but the as we into do those to to is spend on to revenues, but income not it. want That you $XX a well $XX those receivables sheet does we of million that. so does of sort then had we net to - we of - our were revenues, that And gross so Really, balance those. fall And that operations in difference that's recognize have the you rest the for the at both one a CPA, line attributable kind income. If the between revenue our are the on take because in on receivable that look on the $XX from margins this some the re-imbursables us I book how time difficult explain, net of and the million million happen? who well, as to say, we
that of million. on sheet So at are utility $XX currently our Ranch customers number XXX. Sky about sit about receivables balance Total
as So a well. for us financially very good year
payable. does one what was and liabilities. no high We tax position, is income balance out liability the time with in liquidity to sheet have very we The detailing any spend income won't strong have here that, asset degree the really this statement that come potential on this. both attributable but I almost
position this as on year-over-year on losses So paying be of that federal basis. opposed always to hurts to a happy entity accruing that get thing, you a to coffers a tax but in to the contribute
I'd operator. of like has over color what on if is on back that, you've that any if the concluded little to our the can more do want down turn with I us. And that a of to detail got some you bit for it questions, drill year-end things So for any
