1 2-24-22
Contract No.: ____________________
Approval Date: ___________________
CONSTRUCTION CREDIT AND REIMBURSEMENT AGREEMENT
THE PRESERVE
CIRCULATION (STREETS, SIGNALS and BRIDGES) DEVELOPMENT IMPACT FEE
PROGRAM
(Circulation Projects 2004-2019)
This CONSTRUCTION CREDIT AND REIMBURSEMENT AGREEMENT
(“Agreement”) is entered into this 19th day of November 2024 (“Effective Date”), by and between CITY OF CHINO , a California municipal corporation (“ City”), and [CHINO DEVELOPMENT CORPORATION, a California corporation and CHINO PRESERVE DEVELOPMENT CORPORATION, a California corporation ] (“Developer”). City and Developer are sometimes hereinafter referred to individually as “Party” and jointly as “Parties”.
RECITALS
A. Pursuant to that certain Preserve Development Agreement No. 2004-073, effective July 1, 2004, as amended, among City, Developer and Developer’s affiliate Chino Holding Company and the conditions for Tracts 16419, 16419 -1, 16420, 16420 -1, 16797,17057, 17571, 17572, 17574, 18480 and 19994 (“Developer’s Properties”), but excluding work done on Pine Avenue known as Stages 1 -3 that are covered in City Reimbursement Contract No. 2022 -029 (“Developer’s Properties”), Developer wa s required to design and construct various Circulation Facilities as a condition to the development of The Preserve community.
B. Developer has completed all work required in connection with the design and construction of that certain work described in the Summary of Improvements attached hereto as Exhibit A (the “Project”) according to the specifications of the City and under the inspection of, and to the satisfaction of the City Engineer of the City.
C. The Circulation Facilities are master-planned facilities and are included in the City’s Preserve Circulation (Streets, Signal and Bridges Development Impact Fee (“DIF”) program. The Project is eligible for reimbursement to Developer by the City and credit against development impact fees (“DIFs”) pursuant to the Chino Municipal Code, Chapters 3.45 entitled “Preserve Development Impact Fees” (the “DIF Ordinance”) and, specifically, Section 3.45.130 thereof.
D. The DIF Ordinance provides that if, as a condition of approval of a development project, a developer constructs a public facility identified in the Nexus Reports, for which a DIF is imposed, Developer shall be eligible to receive reimbursement and a fee credit toward the DIFs imposed on the Project for the same type of public facility so constructed, and shall be entitled to credit for eligible costs of constructing the public facilities.
E. City and Developer desire to enter into this Agreement (i) to memorialize the ir agreement as to the Total DIF Cost (defined in Section 2.1 below) to which Developer is entitled for its design an d construction of the Project, (ii) to provide the methodology for the City’s 2 2-24-22
reimbursement to Developer and crediting to The Preserve Circulation DIFs (defined in Section 2.2 below) of the Total DIF Costs and (iii) to establish the requirements for Developer’s transfer or application of all or any portion of available Credits (defined in Section 2.3 below) to a third party.
F. Developer and City also desire to memorialize herein Developer’s right to the highest priority reimbursement of funds from The Preserve Circulation DIF fund.
NOW, THEREFORE, for the purposes set forth herein, Developer and City hereby agree as follows:
AGREEMENT:
1. Incorporation of Recitals . The Parties hereby affirm the facts set forth in the Recitals above and agree to the incorporation of the Recitals as though fully set forth herein.
2. Preserve DIF Credit and Reimbursement.
2.1 Total DIF Cost. The City Engineer has determined that the total costs of the Project that are eligible for credit and reimbursement pursuant to the DIF Ordinance is Thirty- Five Million One Hundred Thirty-One Thousand Five Hundred Twenty-Eight and 37/100 Dollars ($35,131,528.37) (“Total DIF Cost”).
2.2 Past Project Credits and Reimbursements . City has previously issued credits to Developer in the amount of Twenty Eight Million Two Hundred Eight Thousand Five Hundred Fifty-Three and 49/100 Dollars ($28,208,553.49 ) against The Preserve Circulation DIFs (“Circulation DIFs”) otherwise due and payable in connection with development within Developer’s Properties pursuant to the DIF Ordinance (“ Past Project Credit s and Reimbursements”), as more particularly set forth in Exhibit B titled “Circulation DIF Credits and Reimbursement Reconciliation” attached hereto and made part of hereof.
2. 3 An amount equal to the Total DIF Cost less the Past Project Credits and Reimbursements (the “Remaining Circulation DIF Credit and Reimbursement Amount”), namely Six Million Nine Hundred Twenty-Two Thousand Nine Hundred Seventy-Four and 88/100 Dollars ($6,922,974.88), remains to be reimbursed to Developer or credited to Developer for future Circulation DIFs otherwise due and payable by Developer anywhere within the Developer’s Properties (“Credits”). Because, as of the Effective Date, Developer has already incurred the Total DIF Cost, Circulation DIFs applicable to homes within Developer’s Property for which building permits are issued after the Effective Date shall be in the amount of the Circulation DIF in effect as of the Effective Date and, in the event that the City increases the City’s Circulation DIFs, such increase shall not be applicable to Developer’s Property after the Effective Date.
3. Reimbursement. The public facilities which comprise the Project and are the subject of this Agreement were constructed and opened for use by the City prior to the date of th e opening for use by the City of any other Circulation facilities which may be eligible for reimbursement. Accordingly, pursuant to the first-in/first-out provision of the DIF Ordinance ( i.e., Section 3.45.130.A7), reimbursement to Developer for the Project shall have priority and be first in line over all other Circulation facilities. As such, as of the Effective Date and thereafter, as set forth in the following Section 4, City shall reimburse Developer the Total DIF Costs, less (i) the amount of the Past Project Credits, and (ii) the amount of Credits applied after the Effective Date (“Remaining Amount”), to the full extent of available Circulation DIFs then held by City until the 3 2-24-22
Total DIF Costs are reimbursed in full via DIF credits and reimbursements.
4. Annual Reconciliation . On the first business day following each July 1st, commencing on July 1, 2025, City and Developer representatives shall meet for the purpose of ascertaining Credits to the Circulation DIFs issued by City to the Developer after the Effective Date for Developer’s Properties, the amount of any reimbursements made to Developer, the am ount of the Remaining Amount, and the Circulation DIFs then held by the City. City and Developer shall prepare a document that reconciles the foregoing, whic h document shall be approved by the City Council. When approved by the City Council said reconciliation document shall constitute a revision to and update of the Circulation DIF Credit and Reimbursement Reconciliation and the Circulation DIF Credit and Reimbursement Amount and it shall be binding on the Parties. The Circulation DIFs held by City which are subject to reimbursement to Developer shall then be paid by City to Developer within thirty (30) days after the date that such Circulation DIF Credit and Reimbursement Reconciliation is approved by the City Council.
5. DIF Addendum . Developer shall have the right to assign all or portions of Developer’s rights to Credits hereunder in accordance with the requirements specified in the DIF Credit Addendum attached hereto as Exhibit C, which assignment will require City’s written acknowledgement. Developer understands that strict compliance with the assignment restrictions is critical to allow City to track the total amount of Credits previously applied and remaining and Developer’s failure to comply with the assignment requirements in the DIF Credit Addendum may result in delays in the processing of Credit assignments by the City.
6. Assignment. Developer may assign this Agreement to a third party subject to the approval of City’s Director of Public Works , which shall not be unreasonably withheld . If Developer desires to assign this Agreement, Developer shall provide detailed information as to the proposed assignee as requested by City.
7. Miscellaneous.
7.1 Relationship between the Parties . The Parties hereby mutually agree that this Agreement shall not operate to create the relationship of partnership, joint venture, or agency between City and Developer. Developer’s contractors are exclusively and solely under the control and dominion of Developer. Nothing herein shall be deemed to make Developer or its contractors an agent or contractor of City.
7.2 Authority to Enter Agreement. Each person executing this Agreement on behalf of Developer represents and warrants that he or she has the legal power, right and authority to execute this Agreement on behalf of Developer and that this Agreement is binding upon Developer.
7.3 Notices. Any notice, demand, request, consent, approval, or communication either Party desires or is required to give to the other Party or any person shall be in writing and either served personally, communicated electronic mail (with a receipt requested), or sent by prepaid, first- class mail to the address set forth below. Notice shall be deemed communicated immediately upon personal delivery, fax or email receipt, or forty-eight (48) hours from the time of mailing if mailed as provided in this Section:
4 2-24-22
To City: City of Chino
13220 Central Avenue
Chino, CA 91710
Attn: Hye Jin Lee
Director of Public Works Development
Email: [email protected]
With Copy to: Aleshire & Wynder, LLP
1 Park Plaza, Suite 1000
Irvine, CA 92614
Attn: Fred Galante, Esq.
Email: [email protected]
To Developer: Chino Development Corporation 1156
North Mountain Avenue
Upland, CA 91786
Attn: Mr. Bryan T. Goodman
With a copy to: Lewis Management Corp. 1156
North Mountain Avenue
Upland, CA 91786
Attn: Jay Dupre, Esq
Email: [email protected]
7.4 Cooperation; Further Acts. The Parties shall fully cooperate with one another and shall take any additional acts or sign any additional documents as may be necessary, appropriate, or convenient to attain the purposes of this Agreement.
7.5 Amendment; Modification. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing and executed by both Parties.
7.6 Waiver. No waiver of any default shall constitute a waiver of any other default or breach, whether of the same or other covenant or condition. No waiver, benefit, privilege, or service voluntarily given or performed by a Party shall give the other Party any contractual right by custom, estoppel, or otherwise.
7.7 Binding Effect. Each and all of the covenants and conditions shall be binding on and shall inure to the benefit of the Parties, and their successors, heirs, personal representatives, or assigns. This section shall not be construed as an authorization for any Party to assign any right or obligation.
7.8 No Third-Party Beneficiaries. There are no intended third -party beneficiaries of any right or obligation assumed by the Parties.
7.9 Invalidity; Severability . If any portion of this Agreement is declared invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect.
7.10 Governing Law; Consent to Jurisdiction and Venue . This Agreement shall be construed in accordance with and governed by the laws of the State of California. Any legal action 5 2-24-22
or proceeding brought to interpret or enforce this Agreement, or which in any way arises out of the Parties’ activities undertaken pursuant to this Agreement, shall be filed and prosecuted in the appropriate California State Court in the County of San Bernardino, California.
7.11 Counterparts. This Agreement may be signed in counterparts, each of which shall constitute an original and which collectively shall constitute one instrument.
7.12 City Officers and Employees. No officer or employee of City shall be personally liable to Developer or any successors in interest in the event of any default or breach by City or for any amount that may become due to Developer or any successor(s) in interest or for breach of any obligation of the terms of this Agreement. No officer or employee of Developer shall be personally liable to City or any successor(s) in interest in the event of any default or breach by Developer or for any amount that may become due to City or their successors in interest or for breach of any obligation of the terms of this Agreement.
7.13 Entire Agreement. This Agreement contains the entire agreement between City and Developer and supersedes any prior oral or written statements or agreements between City and Developer.
7.14 Exhibits. The following exhibits are attached hereto and incorporated herein by reference:
Exhibit A
Exhibit B
Exhibit C
Summary of Improvements Included in the Project
Circulation DIF Credit and Reimbursement Reconciliation DIF Credit Addendum
[SIGNATURES ON FOLLOWING PAGE]
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the day and year first above written.
“DEVELOPER”
CHINO DEVELOPMENT
CORPORATION,
a California corporation
By:
Name: Bryan T. Goodman
Its: Authorized Agent
CHINO PRESERVE
DEVELOPMENT CORPORATION,
a California corporation
By:
Name: Bryan T. Goodman
Its: Authorized Agent
“CITY”
CITY OF CHINO,
a municipal corporation
By:
Linda Reich Date
City Manager
ATTEST:
By: ____________________________
Natalie Gonzaga Date
City Clerk
APPROVED AS TO CONTENT:
By: _____________________________
Hye Jin Lee Date
Director of Public Works
APPROVED AS TO FORM:
ALESHIRE & WYNDER, LLP
By: _____________________________
Fred Galante Date
City Attorney
DEVELOPER: ONE PERSON AUTHORIZED BY THE APPLICABLE ENTITY FORMATION DOCUMENTS SHALL EXECUTE THIS AGREEMENT. COPIES OF
APPLICABLE DOCUMENTS EVIDENCING SUCH AUTHORITY SHALL BE PROVIDED TO CITY. DEVELOPER SIGNATURE SHALL BE DULY NOTARIZED, AND
APPROPRIATE ATTESTATIONS SHALL BE INCLUDED AS MAY BE REQUIRED BY THE APPLICABLE FORMATION DOCUMENTS FOR THE ENTITY.
EXHIBIT A
SUMMARY OF IMPROVEMENTS INCLUDED IN BUDGET
[attached]
A-1
8 Description 6/30/2019
Additions /
(Subtractions)
Revised
05/08/2023
Additions /
(Subtractions)
Revised
05/23/2023
Additions /
(Subtractions)
3-21-2024
(Subtractions)
Revised
3/21/2024
Pre-Approved CFD Costs
CFD 2003-3 Base Draw # 12 - Tract 16419-1 Phase 1 Streets 3,678,059.53 - 3,678,059.53 - 3,678,059.53 - 3,678,059.53 CFD 2003-3 Supplement Draw # 12 - Tract 16419-1 Phase 1 Streets 2,405,102.98 - 2,405,102.98 - 2,405,102.98 - 2,405,102.98 CFD 2003-3 Base Draw # 13 - Phase 1 Streetscapes 16419-1 2,141,610.71 - 2,141,610.71 - 2,141,610.71 - 2,141,610.71 CFD 2003-3 Supplement Draw # 13 - Phase 1 Streetscapes 16419-1 371,980.68 - 371,980.68 - 371,980.68 - 371,980.68 CFD 2003-3 Base Draw # 15 - Tract 16419 Phase 2 Streets 2,173,685.61 - 2,173,685.61 - 2,173,685.61 - (453,495.50) 1,720,190.11 CFD 2003-3 Base Draw # 17 - Kimball Basins Streetscapes 776,978.38 - 776,978.38 - 776,978.38 - 776,978.38 CFD 2003-3 Supplement Draw # 17 - Kimball Basins Streetscapes 212,226.19 - 212,226.19 - 212,226.19 - 212,226.19 CFD 2003-3 Base Draw # 19 - Hellman Street Improvements 736,859.39 - 736,859.39 - 736,859.39 - 736,859.39 CFD 2003-3 Base Draw # 20 - Phase 2 Streetscapes 16419 649,812.34 - 649,812.34 - 649,812.34 - (649,812.34) - CFD 2003-3 Base Draw # 24 - Tract 17571 Streets 1,117,723.38 - 1,117,723.38 - 1,117,723.38 - (592,428.77) 525,294.61 CFD 2003-3 Base Draw # 26 - Homecoming Phase 1 Streets 2,449,220.07 - 2,449,220.07 - 2,449,220.07 - 2,449,220.07 CFD 2003-3 Base Draw # 30 - Tract 17571 Streetlights 324,465.38 - 324,465.38 - 324,465.38 - (324,465.38) - CFD 2003-3 Base Draw # 31 - Tract 17571 Streetscapes 226,965.35 - 226,965.35 - 226,965.35 - (226,965.35) - CFD 2003-3 Base Draw # 32 - Homecoming Phase 2 Streets 817,107.36 - 817,107.36 - 817,107.36 - 817,107.36 Share of CFD-2003-3 Draw # 14 - Tract 16797 Street, Sewer, Water 518,498.48 - 518,498.48 - 518,498.48 - 518,498.48 1 Pre-Approved CFD Costs Subtotal 18,600,295.83 - 18,600,295.83 - 18,600,295.83 - (2,247,167.34) 16,353,128.49 A DIF Eligible Costs Not Submitted on CFD Draws as of 6/30/2019 CFD Streets Ph 1 2,465,121.09 - 2,465,121.09 (41,400.00) 2,423,721.09 (55,440.00) - 2,368,281.09 7 CFD Streets Ph 2 3,445,766.13 - 3,445,766.13 (3,332.18) 3,442,433.95 - 3,442,433.95 Harvest CFD Streets 4,997,673.04 - 4,997,673.04 (194,562.75) 4,803,110.29 (638,570.51) (231,948.90) 3,932,590.88 6 Homecoming Tr 16420-1 & 16420-2 1,514,426.40 - 1,514,426.40 (226,391.30) 1,288,035.10 - - 1,288,035.10 Pine Avenue 5,289,637.35 (4,255,639.34) 1,033,998.01 - 1,033,998.01 - - 1,033,998.01 2 3 South of Pine Ave Ph 3 & 4 4,049,780.24 - 4,049,780.24 - 4,049,780.24 - - 4,049,780.24 Stark Tr 17574 1,711,498.74 - 1,711,498.74 (58,931.75) 1,652,566.99 - - 1,652,566.99 Streets Related to Lift Station 21,056.57 (21,056.57) - - - - - - 4 Tr 162 Gateway Monuments - - - 1,010,713.62 1,010,713.62 - - 1,010,713.62 5 Additional Costs Subtotal 23,494,959.56 (4,276,695.91) 19,218,263.65 486,095.64 19,704,359.29 (694,010.51) (231,948.90) 18,778,399.88 B Total Lewis Cost of Improvements 42,095,255.39 (4,276,695.91) 37,818,559.48 486,095.64 38,304,655.12 (694,010.51) (2,479,116.24) 35,131,528.37 C = A+B 1 - See attached allocation worksheet for allocation method of street cost 2 - See attached cost detail worksheet and checks/invoices for support 3 - Revised 05/08/2023 to remove Pine Ave Ph 1-3 improvements covered by a separate agreement 2022-029 dated 6/15/2021 4 - Revised 05/08/2023 to remove road work related to Lift Station improvements - not DIF eligible 5 - Revised 06/28/2023 to reclassify $456k of monuments cost & add $422k of add'l monuments cost plus 15% for soft cost 6 - Revised 11/21/2023 to further remove Pine Ave Ph 1-3 improvements covered by a separate agreement 2022-029 dated 6/15/2021 7 - Revised 11/21/2023 to remove temp Bickmore Ave improvements from Euclid Ave to Tr 17571 8 - Revised 3/21/24 to remove non-DIF streets costs and revise allocation of costs Chino Preserve
City of Chino - DIF
As of 6/30/2019 (Revised 10/4/2024)
Category: Streets
A-2
Summary Breakout of Streets Costs by Street
PRL 3/21/24
Allocation Exhibit Names CFD Streets CFD Streets CFD Streets Homecoming Ph 1 & 2 South of Pine Stark Tr 17574 & CFD Streets Street CFD Street Ph 1 CFD Street Ph 2 CFD Streets Harvest Includes Pine Ave Hellman Avenue Ave Ph 3 & 4 Kimball Ave/Rincon Tr 17571 Totals Street Bickmore Avenue 1,376,363.12$ 772,507.57$ 2,048,908.30$ -$ -$ -$ -$ 54,630.95$ 4,252,409.94$ Bickmore Avenue East Preserve Loop Road 1,500,336.87$ -$ -$ 661,481.62$ -$ 757,012.58$ -$ -$ 2,918,831.07$ East Preserve Loop Road Flight Avenue 437,014.27$ -$ -$ -$ -$ -$ -$ -$ 437,014.27$ Flight Avenue Kimball Avenue 2,792,136.66$ 1,113,252.50$ -$ -$ -$ -$ 2,422,497.09$ -$ 6,327,886.25$ Kimball Avenue Main Street 1,256,207.69$ -$ -$ -$ -$ -$ -$ -$ 1,256,207.69$ Main Street Mill Creek Avenue 1,060,436.14$ 60,064.24$ -$ -$ -$ -$ -$ -$ 1,120,500.38$ Mill Creek Avenue Pine Avenue 204,665.77$ 1,276,400.43$ 1,057,232.18$ 2,537,265.10$ -$ -$ -$ 470,663.86$ 5,546,227.34$ Pine Avenue West Preserve Loop 1,819,718.51$ -$ -$ -$ -$ -$ -$ -$ 1,819,718.51$ West Preserve Loop Alpine Meadows Avenue -$ -$ -$ -$ -$ -$ -$ -$ -$ Alpine Meadows Avenue Forest Park Street -$ -$ -$ -$ -$ -$ -$ -$ -$ Forest Park Street Hellman Avenue -$ 257,399.17$ 826,450.41$ 580,679.69$ 736,859.39$ 1,153,557.71$ -$ -$ 3,554,946.37$ Hellman Avenue Meadow Valley Avenue -$ -$ -$ -$ -$ -$ -$ -$ -$ Meadow Valley Avenue Rincon Meadows Avenue -$ 683,633.76$ -$ -$ -$ -$ 441,660.95$ -$ 1,125,294.71$ Rincon Meadows Avenue Market Street -$ -$ -$ 698,514.14$ -$ 47,880.22$ -$ -$ 746,394.36$ Market Street Discovery Park Avenue 977,148.21$ -$ -$ 977,148.21$ Discovery Park Avenue Legacy Park Street -$ -$ -$ -$ -$ 1,114,181.51$ -$ -$ 1,114,181.51$ Legacy Park Street Meadowhouse Avenue -$ -$ -$ -$ -$ -$ -$ -$ -$ Meadowhouse Avenue Botany Avenue -$ -$ -$ -$ -$ -$ -$ -$ -$ Botany Avenue
Channel View Street -$ -$ -$ -$ -$ -$ -$ -$ -$ Channel View Street Hollyhock Avenue -$ -$ -$ -$ -$ -$ -$ -$ -$ Hollyhock Avenue Olive Grove Avenue -$ -$ -$ -$ -$ -$ -$ -$ -$ Olive Grove Avenue 10,446,879.03$ 4,163,257.67$ 3,932,590.89$ 4,477,940.55$ 736,859.39$ 4,049,780.23$ 2,864,158.04$ 525,294.81$ 31,196,760.61$ Excludes Traffic Signals 518,196.00$ 999,366.00$ -$ 1,110,420.00$ -$ -$ 296,112.00$ -$ 2,924,094.00$ Excludes TR 162 Gateway Monuments 41,400.00$ 3,332.18$ 194,562.75$ 226,391.30$ -$ -$ 58,931.75$ -$ 524,617.98$ Submitted in separate package 6/28/23 Excludes TR 162 Gateway Monuments -$ -$ -$ -$ -$ -$ -$ -$ 486,095.63$ Submitted in separate package 6/28/23 3,934,807.61$
Total Breakdown Streets
plus Traffic Signals & Monuments 35,131,568.22$
A-3
EXHIBIT B
CIRCULATION DIF CREDIT AND REIMBURSEMENT RECONCILIATION
[attached]
B-1
Project Builder Tract No. Density Total Units Building
Permits Credits Issued
Secret Garden John Laing 16519 LDR 84 84 468,399.00$
Garden Glen I Lennar 16520 LDR 51 51 447,216.00$
Ten Bloom Rd K. Hov. 16521 LDR 69 69 375,659.00$
Canterburry Grove I Centex 16522 LDR 48 48 389,376.00$
Iris Shea 16523 LDR 61 61 494,832.00$
Citrus Commons Centex 17514 HDR 118 118 842,125.00$
Agave Centex 17515 MDR 104 104 602,724.00$
Evergreen KB 17357 MDR 58 58 413,051.00$
Mulberry - Casita Brookfield 17390 MDR 63 63 417,512.00$ Mulberry - Cottage Brookfield 17390 MDR 63 63 417,512.00$ Tetherwind Shea 17616 MDR 162 162 945,756.00$
Enchanted Forest Shea 17150 LDR 55 55 505,890.00$
Hidden Hollow Standard Pacific 17148 LDR 81 81 586,040.00$ Candlewood Pardee 17266 LDR 64 64 547,101.00$
Shady Lane Standard Pacific 17149 LDR 60 60 421,440.00$ Canterburry Grove II Centex 17610 LDR 48 48 399,651.00$ Garden Glen II Lennar 17613 LDR 51 51 469,098.00$
Affordable Apartments Western National 17571 HDR 250 250 1,801,250.00$ Homecoming- Ph 1 LMC 16420-1 HDR 152 152 878,617.00$
Homecoming- Ph 2 LMC 16420-1 HDR 189 189 1,223,775.00$
Homecoming- Ph 3 LMC 16420-1 HDR 458 458 2,965,550.00$
Homecoming- Ph 4 LMC 19980 HDR 454 454 3,520,316.00$
Cantata KB 17611 LDR 21 21 143,199.00$
Ariatta KB 17612 LDR 42 42 286,398.00$
Lynbrook KB 18693 MDR 114 114 777,366.00$
Palisades Woodside Homes 17635 LDR 79 79 999,555.00$
De-boer Deboer 18890 LDR 70 70 554,235.00$
Sonata K. Hov. 18778 LDR 65 65 443,235.00$
Amelia (stark) Cal Atlantic 17574 MDR 110 110 888,910.00$ Lot 14/15 - Hazel TriPointe 20102 HDR20 133 133 773,171.00$ Lot 14/15 - Ivy TriPointe 20102-1 HDR20 134 134 779,242.00$ Lot 11 - Verbena William Lyon 20232 HDR20 70 70 407,330.00$ Lot 11 - Morning Sun Lennar 20231 HDR20 106 106 616,814.00$ Van Vliet Richmond American 20170 MDRD 80 80
Van Vliet Richmond American 20270 MDRD 36 36
Van Vliet Pulte 20172 MDRD 76 76
Van Vliet TriPointe 20171 MDRA 123 123
Van Vliet Beazer 20173 MDRA 149 70
Block 4 Century 20165 LDR 79 79
Block 4 KB Home 20166 LDR 69 69
Block 4 Lennar 20167 LDR 60 60
Block 4 Richmond American 20168 LDR 68 68
Block 4 Lennar 20248 LDR 56 56
Block 4 Richmond American 20249 LDR 56 56
4539 4460 27,964,563.00$
185,466.49$
58,524.00$
28,208,553.49$
Credits exclude:
Homecoming Ph 5 (Contract 2022-163)
Harvest (Contract 2022-029)
TM 16420-4
Van Vliet Rec. Center
Total Credits as of 4/22/24
Streets- DIF Credits Summary as of 4/22/2024
978,721.00$
1,183,497.00$
Total
Pine/Mill Creek Commercial
B-2
Existing
Contracts Tract Map No. Development Allocated Credits
2022-029 18480 Harvest (for Pine) 5,303,376.00$
2022-163 16420-3 Commercial Town Center 3,527,236.00$
2023-249 16420-4 Block 9 - Independence 1,285,559.00$
28,208,553.49$
38,324,724.49$
35,131,528.37$
(28,208,553.49)$
Remaining Credit Balance 6,922,974.88$
Validated Costs (Projects 2004-2019)
Allocated DIF Credits Proposed DIF Agreement
Total DIF Credits Issued to Lewis (as of April 2024)
(Proposed DIF Agreement for Projects Constructed from 2004-2019) Transportation DIF Credit Summary
B-3
EXHIBIT C
DIF CREDIT ADDENDUM
EXHIBIT D
ADDENDUM NO. 1
(Assignment of Credit)
❖ Contract No.:
❖ Assignor:
❖ Project Name:
❖ DIF Credit and Reimbursement Summary:
Total Credit Amount Credits Applied Balance
Circulation DIF $35,131,528.37 ($28,208,553.49) $6,922,974.88 Balance Credits Assigned Balance Forward
Assigned DIF Credit $
Chino Preserve Development Corporation is hereby transferring DIF Credit in the amount of $<<>> to:
❖ Assignee:
❖ Credit Transfer Amount: $
❖ Remaining Credit: $
“Any transfer or assignment of credits or reimbursement rights acknowledged in this Addendum shall be made in accordance with City procedures, on a form approved by and acknowledged by the City. All parties to this Addendum agree that City will have no obligation to recognize or honor an assignment or transfer that does not comply with the terms of this Addendum.”
[SIGNATURES ON FOLLOWING PAGE]
C-1
“DEVELOPER”
CHINO DEVELOPMENT
CORPORATION,
a California corporation
By:
Name: Bryan T. Goodman
Its: Authorized Agent
CHINO PRESERVE
DEVELOPMENT
CORPORATION,
a California corporation
By:
Name: Bryan T. Goodman
Its: Authorized Agent
“CITY”
CITY OF CHINO,
a municipal corporation
By:
Hye Jin Lee
Director of Public Works
“ASSIGNEE”
By: __________________________
Name, Title
C-2