Lake Elsinore City Council
January 14, 2025

Riverside County Oversight Board and the Successor Agency, the Ninth Amendment was submitted to and approved by the DOF; and
Whereas, in 2024, the Successor Agency and the Riverside County Oversight Board approved the Tenth Amendment to Stadium Interim Management Agreement dated January 18, 2024 by and between the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore and the Lake Elsinore Storm LP (the “Tenth Amendment”) and following such approval by the Riverside County Oversight Board and the Successor Agency, the Tenth Amendment was submitted to and approved by the DOF; and
Whereas, the Interim Agreement and the First, Second, Third, Fourth, Fifth, Sixth, Seventh, Eighth, Ninth and Tenth Amendments have been successfully implemented to provide for efficient and cost effective management, maintenance and operation of the Diamond Stadium but, absent an extension of the Eleventh Amendment, the Interim Agreement will expire on September 30, 2025; and
Whereas, consistent with the legislative authorization contained in AB 1484 and SB 107 allowing successor agencies to enter into enforceable obligations for the purpose of maintaining the assets of the former redevelopment agency and implementing enforceable obligations pursuant to underlying contracts and agreements, the Successor Agency seeks to provide for the continued, efficient and cost effective management, maintenance and operation of the Stadium and to retain the Storm to carry out such continuing obligations on an interim basis for in accordance with the proposed Eleventh Amendment to Stadium Interim Management Agreement (“Eleventh Amendment”); and
Whereas, a Third Amendment to the Concession License Agreement is necessary to conform to California Department of Alcoholic Beverage Control (“ABC”) regulations by implementing a flat Concession Fee to replace the percentage Concession Fee and to align the concession license granted to the Concessionaire with the boundaries of the ABC licenses held by Golden State; and
Whereas, pursuant to Health and Safety Code Section 34177(o)(1) a “Recognized Obligation Payment Schedule” that lists all obligations of the former redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34167 for the period commencing July 1, 2025 – June 30, 2026 (the “ROPS 25-26”) which lists, among other things, as enforceable obligations of the Successor Agency, the following obligations related to the Lake Elsinore Diamond Stadium (the “Stadium”): (i) License Agreement; (ii) Maintenance Agreement; (iii) Concession Agreement; (iv) Stadium operations and maintenance obligations, and (v) the Interim Agreement (as amended) has been prepared for approval by the Successor Agency on January 14, 2025 and the Oversight Board on January 16, 2025 and subsequent ROPS will be similarly prepared throughout the term of the Stadium Operations Contracts.

NOW, THEREFORE, THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, DOES HEREBY RESOLVE AS FOLLOWS:

Section 1.The Recitals set forth above are true and correct and incorporated herein by reference.

Section 2.Based on the information presented in the staff report and testimony received, the Successor Agency finds (i) i) that the proposed Third Amendment to Concession License Reso No. SA-2025-0

Agreement and the proposed Eleventh Amendment to the Stadium Interim Management Agreement are reasonable and necessary to satisfy the Successor Agency’s contractual obligations under the Stadium Operations Contracts and to protect and maintain the assets of the former Redevelopment Agency and conform to state law and regulations, (ii) that Real Property Tax Trust Fund (RPTTF) revenues requested by the Successor Agency in the ROPS 25-26 includes funds necessary to meet the Successor Agency’s enforceable obligations, and (iii) that the Third Amendment to the Concession License Agreement is in the best interests of the taxing entities as necessary to conform to ABC regulations and the Eleventh Amendment to the Stadium Interim Management Agreement is in the best interests of the taxing entities because the Storm’s skills, knowledge and resources will provide continued, efficient and cost effective management, maintenance and operation of the Diamond Stadium which will protect the public’s investment in the Stadium, minimize costs and mitigate against potential breach of contract and related damages.

Section 3.Based on the above findings, the Successor Agency approves the Third Amendment to Concession License Agreement between the Successor Agency and Golden State Concessions and Catering, Inc. (“Third Amendment”) and the Eleventh Amendment to the Stadium Interim Management Agreement between the Successor Agency and the Lake Elsinore Storm LP (“Eleventh Amendment”) in substantially the forms attached and authorizes and directs the Executive Director to execute the Third Amendment and the Eleventh Amendment in such final form as approved by Successor Agency Counsel and submitted to and approved by the Riverside Countywide Oversight Board. The Executive Director is further authorized to execute such other documents as necessary to implement the Third Amendment and the Eleventh Amendment as approved by Agency Counsel.

Section 4.If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution which can be given effect without the invalid provision or application, and to this end the provisions of this resolution are severable. The Successor Agency hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof.

Section 5.This Resolution shall take effect from and after the date of its passage and adoption in accordance with, and subject to, all applicable requirements of the Health & Safety Code.

Passed, Approved and Adopted by the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore, California, this 14th day of January, 2025.

Brian Tisdale, Chair
ATTEST:

Candice Alvarez, MMC
Agency Secretary
Reso No. SA-2025-0

STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

CITY OF LAKE ELSINORE )
I, Candice Alvarez, Secretary of the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore, California, hereby certify that Resolution No. SA-2025- 0 was adopted by the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore at a Regular meeting held on the 14th day of January, 2025 by the following vote:

AYES:

NOES:

ABSTAIN:

ABSENT:

Candice Alvarez, Agency Secretary

THIRD AMENDMENT TO

CONCESSION LICENSE AGREEMENT
This THIRD AMENDMENT TO CONCESSION LICENSE AGREEMENT
(this “Third Amendment”), dated for identification purposes as of January 14, 2025, is made by and between the SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, a public body corporate and politic (“Successor Agency”), and GOLDEN STATE CONCESSIONS AND CATERING, INC., a California corporation (“Concessionaire”) with regard to the following:

RECITALS
The following Recitals are a substantive part of this Third Amendment:

A. Prior to February 1, 2012, the Redevelopment Agency of the City of Lake Elsinore (“Dissolved Agency”) was a community redevelopment agency duly organized and existing under the California Community Redevelopment Law (commencing at Section 33000 of the California Health and Safety Code) and authorized to exercise the powers of a redevelopment agency pursuant to action of the City Council of the City of Lake Elsinore.

B. Prior to February 1, 2012, the Dissolved Agency developed a minor league baseball stadium, baseball field, parking and related facilities commonly known as the “Lake Elsinore Diamond” on land owned by the Redevelopment Agency (collectively, the “Site”) and was engaged in the operations, maintenance and management of the Site and related activities necessary and appropriate to carry out the redevelopment plan (“Redevelopment Plan”) for the Rancho Laguna Project Area No. 3 (“Redevelopment Project”), which was adopted by the City Council of the City of Lake Elsinore pursuant to Ordinance No. 815 on September 8, 1987, and thereafter amended by Ordinance No. 987 on November 22, 1994, Ordinance No. 1249 on February 26, 2008 and Ordinance No. 1262 on April 28, 2009. The Site is depicted on the Site Map/Diagram of Licensed Area attached as Exhibit “A” hereto and incorporated by reference herein.

C. The Dissolved Agency and Concessionaire entered into that certain Concession License Agreement dated January 30, 2002 providing for concessions operations and food and beverage service and use of concessions facilities at the Site. As of November 1, 2002, the Concession License Agreement was amended to bring the Concession License Agreement into conformance with regulations promulgated by the Department of Alcohol and Beverage Control of the Business, Transportation and Housing Agency of the State of California (“First Amendment”). The term of the Concession License Agreement was extended by that certain Attornment and Second Amendment to Concession License Agreement dated July 15, 2007 (“Second Amendment”). The Concession License Agreement, as amended by the First Amendment and the Second Amendment are referred to herein as the “Concession Agreement.” D. On December 29, 2011 in the petition California Redevelopment Association v. Matosantos (Case No. S194861), the California Supreme Court upheld - 2 -
Attachment 2 - Third Amendment to Concession License Agreement.pdf Assembly Bill X1 26 that added Parts 1.8 and 1.85 to Division 24 of the Health and Safety Code (“Dissolution Act”), which laws caused the dissolution of all redevelopment agencies in California as of February 1, 2012.

E. By the adoption of its Resolution No. 2012-001 on January 10, 2012, the City Council of the City of Lake Elsinore elected to have the City serve as the successor agency to the Dissolved Agency under the Dissolution Act.

F. Effective February 1, 2012, all assets, properties, contracts, leases, books and records, buildings, and equipment of the Dissolved Agency were transferred to the control of the Successor Agency, for administration pursuant to the provisions of the Dissolution Act.

G. As of February 1, 2012, the Successor Agency became the owner of Site and the successor in interest to the Concession Agreement and all agreements governing the use, maintenance and operation of the Site, collectively referred to as the “Stadium Operations Contracts.”
H. As part of the Fiscal Year 2012-13 State budget package, on June 27, 2012, the California State Legislature passed, and the Governor signed, Assembly Bill 1484 (“AB 1484”), which established a schedule for adoption of a Recognized Obligation Payment Schedule for the period from January 1, 2013 through June 30, 2013 (herein referred to as the “Third ROPS”) and for all subsequent Recognized Obligation Payment Schedules. AB 1484 also expanded the review period and authority of the Department of Finance (“DOF”) to review and approve Recognized Obligation Payment Schedules and to make its determination “of the enforceable obligations and the amounts of funding sources of the enforceable obligations” listed thereon.

I. On August 28, 2012, the Successor Agency adopted the Third ROPS which listed, among other enforceable obligations of the Successor Agency, the obligations under Stadium Operations Contracts (including the Concession Agreement) and a Stadium Interim Management Agreement. The obligations under the Stadium Operations Contracts (including the Concession Agreement) were incorporated by reference and implemented in the Stadium Interim Management Agreement.

J. The Concession License Agreement and the other Stadium Operations Contracts as incorporated in the Stadium Interim Management Agreement and amendments thereto have been approved by the Oversight Board of the Dissolved Agency, the Riverside Countywide Oversight Board, and the DOF in the Third ROPS and each successive ROPS through to and including the ROPS 24-25.

K. The Successor Agency and the Concessionaire now desire to amend the Concession Agreement to implement a flat Concession Fee to replace the percentage Concession Fee in conformance with California Department of Alcoholic Beverage Control (“ABC”) regulations and to align the concession license granted hereunder with the ABC licenses held by the Concessionaire all in furtherance of the performance by the Successor Agency under the Dissolution Act and the purpose of the Stadium Interim Management Agreement.
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Attachment 2 - Third Amendment to Concession License Agreement.pdf L. Capitalized terms used herein which are not otherwise defined herein shall have the meaning ascribed to them in the Concession Agreement.

AGREEMENT
NOW THEREFORE, in consideration of the foregoing Recitals and the terms contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties do hereby agree as follows:

1. Section 3, entitled “Concession Services at the Site” is amended as follows:

3.1 The Stadium.Subject to the terms and conditions of this Concession Agreement and the Type 47 ABC License held by the Concessionaire, Concessionaire shall have the exclusive right and obligation throughout the Term of this Concession Agreement to provide Refreshments in the Licensed Area for the Type 47 ABC License as depicted on the Diagram attached hereto as Exhibit “A” and incorporated by reference herein. Notwithstanding the foregoing, the parties may agree to allow a third party concessionaire to sell Refreshments in the Stadium during Other Stadium Events subject to applicable ABC regulations and compliance with the provisions of Section 3.5 below.

3.2 Diamond Club.Subject to the terms and conditions of this Concession Agreement and the Type 23 ABC License held by the Concessionaire, Concessionaire shall have the exclusive right and obligation throughout the Term of this Concession Agreement to provide Refreshments in the Diamond Club (now known as the Diamond Tap Room) as depicted as the Licensed Area for the Type 23 ABC License delineated on the Diagram attached hereto as Exhibit “A” and incorporated by reference herein.

3.3 Parking Lot.
(a) Exclusive Caterer for Storm Games and Other Storm Events.

Subject to the terms and conditions of this Concession Agreement, Concessionaire shall have the exclusive right to sell Refreshments, excluding the sale of alcoholic beverages, in the Parking Lot during Storm Games and Other Storm Events. Notwithstanding the foregoing, this provision is not intended to prevent “tailgating” or similar activities by patrons at the Site. In the event Concessionaire seeks to sell alcoholic beverages in the Parking Lot during Storm Games or Other Storm Events, Concessionaire shall obtain ABC approval of a Type 77 Event Permit or other ABC approval to expand the boundaries of the Concessionaire’s Type 47 License in addition to approval by the City, County Department of Public Health or any other required approval. Concessionaire will obtain written consent from the Agency Executive Director prior to any and all submittals to ABC.
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Attachment 2 - Third Amendment to Concession License Agreement.pdf (b) Non-Exclusive Caterer for Other Stadium Events.

Concessionaire shall not have exclusive right to sell Refreshments in the parking lot for Other Stadium Events. Upon the mutual consent of the parties and subject to ABC approval of a Type 77 Event Permit or other ABC approval to expand the boundaries of the Concessionaire’s Type 47 License in addition to approval by the City, County Department of Public Health or any other required approval on an event by event basis, the Successor Agency may grant Concessionaire a non- exclusive right to provide Refreshments in the Parking Lot during Other Stadium Events.

3.4 Playing Field.Concessionaire shall not have exclusive right to sell Refreshments on the field for Other Stadium Events. Upon the mutual consent of the parties and subject to ABC approval of a Type 77 Event Permit or other ABC approval to expand the boundaries of the Concessionaire’s Type 47 License in addition to approval by the City, County Department of Public Health or any other required approval on an event by event basis, the Successor Agency may grant Concessionaire a non-exclusive right to sell Refreshments on the playing field during Other Stadium Events. The parties acknowledge that use of the field for Other Stadium Events shall be consistent with the requirements of baseball primacy during the baseball season.

3.5 Third Party Concessionaires.If Concessionaire is not the concessionaire for an Other Stadium Event, the third party concessionaire will comply with all applicable state and local ABC, public health and special event/land use regulatory requirements. If Concessionaire is the concessionaire, the Successor Agency/City and Concessionaire will negotiate in good faith to define the terms of those concession services.

3.6 Event Scheduling.The concession rights provided to
Concessionaire by this Concession Agreement do not include rights to schedule, book, or reserve the Site or any portion thereof except in strict compliance with the scheduling protocols outlined in the Stadium Interim Management Agreement.

2. Section 6, entitled “Concession Fee” is hereby amended and restated in its entirety as follows:

6. Concession Fee.

6.1 Concession Fee Schedule.In consideration of the exclusive rights granted herein to Concessionaire, Concessionaire shall pay the Successor Agency a Concession Fee as follows:
(a)Thirty-Four Thousand Dollars ($34,000.00) for the term of the Tenth Amendment to Stadium Interim Management Agreement commencing October 1, 2024 through September 30, 2025;
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Attachment 2 - Third Amendment to Concession License Agreement.pdf (b)Eighty-Four Thousand Dollars ($84,000.00) for the term of the Eleventh Amendment to Stadium Interim Management Agreement commencing October 1, 2025 through September 30, 2026; and (c)Twenty-One Thousand Dollars for the remaining three month of the Term of this Concession Agreement for the period commencing October 1, 2026 through December 31, 2026.

6.2 Payment to the Successor Agency/Assignment of Concession Fee. During the term of the Stadium Interim Management Agreement and in accordance with Section 7.2(a) thereof, the Successor Agency will assign its right to payment of the Concession Fee to the Storm. In the event of termination of the Interim Stadium Management Agreement prior to the expiration of this Concession Agreement, Concessionaire shall pay the Concession Fee, or prorata portion thereof, to the Successor Agency within thirty (30) days of the date of termination of the Stadium Interim Management Agreement.

6.3 Reporting Requirements and Good Faith Negotiations. Not later than November 1, 2025, Concessionaire provide the Successor Agency with the Gross Receipts Report for all Storm Games during the 2025 season and the Monthly Reports and general ledger details for all concession revenues for the 2024 calendar year and a year to date for calendar year 2025 pursuant to the requirements of Section 9.2 and 9.3 of this Concession Agreement. The reports shall include all revenues and expenses from any and all sublet or license third party vendor agreements. The Successor Agency and Concessionaire agree to use this information to negotiate in good faith any adjustments to the Concession Fee set forth in Section 6.1 and a Concession Fee in connection with a new Concession License Agreement, if any, entered into between the Successor Agency and the Concessionaire following the expiration of this Concession Agreement.

3. Section 29 entitled “ABC Licenses” is added as follows:

Section 29. ABC Licenses.Throughout the Term of this
Concession Agreement, Concessionaire shall obtain and maintain all necessary ABC Licenses in accordance with all applicable state law and implementing regulations and shall comply with all conditions and requirements thereof in the provision of Refreshments pursuant to the rights and obligations of this Concession Agreement. Concessionaire acknowledges the Site is publicly owned land subject to the provisions of Business and Professions Code Section 23824 and shall cooperate with the Successor Agency and ABC to ensure compliance therewith. In addition, Concessionaire will submit a written proposal to the Successor Agency prior to submittal to ABC to modify, expand or extinguish Concessionaire’s existing Type 47 and/or Type 23 ABC Licenses or apply for a new ABC License on the Site ensure compliance with all applicable laws and regulations - 6 -
Attachment 2 - Third Amendment to Concession License Agreement.pdf regarding the interface between the Diamond Club (now known as the Diamond Tap Room), the Speakeasy, and the brewery prior to commencing beer manufacturing activities.

4. Authority; Priority of Amendment. This Third Amendment is executed by the Parties’ authorized representatives. Except as expressly modified herein, all of the terms of the Concession Agreement shall remain unchanged and in full force and effect, and the Parties shall continue to fulfill their respective obligations under the Concession Agreement as amended by this Third Amendment. To the extent of any conflict between the terms of the Concession Agreement and the terms of this Third Amendment, the terms of this Third Amendment shall control.

5. Captions. The captions appearing in this Third Amendment are for convenience only and are not a part of this Third Amendment and do not in any way limit, amplify, define, construe, or describe the scope or intent of the terms or provisions of this Third Amendment.

6. Counterparts. This Third Amendment may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute but one and the same document.

7. Effective Date. The effective date of this Third Amendment is January 1, 2025
[BALANCE OF PAGE LEFT INTENTIONALLY BLANK, SIGNATURES ON FOLLOWING PAGE]
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Attachment 2 - Third Amendment to Concession License Agreement.pdf IN WITNESS WHEREOF, the parties have executed this Third Amendment on the respective dates set forth below.

GOLDEN STATES CONCESSIONS AND
CATERING, INC., a California corporation
DATED: __________, 2025 By:______________________________ Printed Name:_____________________
Its:______________________________

SUCCESSOR AGENCY OF THE

REDEVELOPMENT AGENCY OF THE CITY
OF LAKE ELSINORE, a public body, corporate
and politic
DATED:_________, 2025 By:__________________________________ Jason Simpson, Executive Director
ATTEST:
________________________
Candice Alvarez, MMC,
Successor Agency Clerk
APPROVED AS TO FORM:

LEIBOLD, MCCLENDON & MANN, P.C.,
Successor Agency General Counsel
By: _________________________
Barbara Zeid Leibold
EXHIBIT “A”
Attachment 2 - Third Amendment to Concession License Agreement.pdf EXHIBIT “A”

SITE MAP/DIAGRAM FOR LICENSED AREA

Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf - 1 -

ELEVENTH AMENDMENT TO STADIUM

INTERIM MANAGEMENT AGREEMENT

THIS ELEVENTH AMENDMENT TO STADIUM INTERIM MANAGEMENT
AGREEMENT (“Eleventh Amendment”), dated for identification as of January 14, 2025, is made by and between the SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE (“Successor Agency”), and the LAKE ELSINORE STORM LP, a California limited partnership (“Storm”).

RECITALS
The following recitals are a substantive part of this Eleventh Amendment:

A. The City Council of the City of Lake Elsinore adopted a redevelopment plan (the “Redevelopment Plan”) for an area within the City known as the Rancho Laguna Redevelopment Project Area 3 (the “Project Area”) by way of its approval of Ordinance No. 815 on September 8, 1987, as thereafter amended by Ordinance No. 987 adopted on November 22, 1994.

B. In furtherance of the Redevelopment Plan and that certain First Amendment to Amended and Restated Option Agreement Under Threat of Condemnation and Irrevocable Offer To Donate Stadium Site and Stadium Access Parcel and Unconditional Acceptance Subject To Covenants, Conditions, Restrictions and Reservations (“Offer to Donate”) dated August 5, 1993, the former Redevelopment Agency of the City of Lake Elsinore acquired certain real property for redevelopment purposes and thereafter, in 1994, completed the “Lake Elsinore Diamond Stadium” on property donated for purposes of developing a minor league professional baseball stadium.

C. In furtherance of the Redevelopment Plan and the covenants, conditions, restrictions and reservations set forth in the Offer to Donate restricting the use of the property as a minor league professional baseball stadium for a minimum of fifty (50) years, the former Redevelopment Agency operated, managed and maintained the Lake Elsinore Diamond Stadium and the property (collectively, the Premises”) pursuant to various agreements, including the Stadium Operations Contracts.

D. Following the dissolution of the former Redevelopment Agency, the Successor Agency entered into that certain Stadium Interim Management Agreement dated January 1, 2013 (the “Interim Agreement”) to provide for the performance of the enforceable obligations under the Stadium Operation Contracts and the Offer to Donate, including maintenance, management, promotion and operations of the Premises. Capitalized terms used herein which are not otherwise defined herein shall have the meaning ascribed to them in the Interim Agreement.

E. The Interim Agreement was successfully implemented during calendar year 2013 to provide for efficient and cost effective management, maintenance and operation of the Premises.

F. In order to provide for continued efficient and cost effective management, maintenance and operation of the Premises for calendar year 2014, the Successor Agency and the Storm entered into that certain First Amendment (2014) to Stadium Interim Management Agreement dated September 24, 2013 (the “First Amendment”).

Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf - 2 -
G. In order to provide for continued efficient and cost effective management, maintenance and operation of the Premises for calendar year 2015, the Successor Agency and the Storm entered into that certain Second Amendment (2015) to Stadium Interim Management Agreement dated September 23, 2014 (the “Second Amendment”).

H. In order to provide for continued efficient and cost effective management, maintenance and operation of the Premises for calendar year 2016, the Successor Agency and the Storm entered into that certain Third Amendment (2016) to Stadium Interim Management Agreement dated September 22, 2015 (the “Third Amendment”).

I. In order to provide for continued efficient and cost effective management, maintenance and operation of the Premises for January 1 2017 – June 30, 2018, the Successor Agency and the Storm entered into that certain Fourth Amendment (2017-2018) to Stadium Interim Management Agreement dated September 27, 2016 (the “Fourth Amendment”).

J. In order to provide for continued efficient and cost effective management, maintenance and operation of the Premises for July 1, 2018 – June 30, 2019, the Successor Agency and the Storm entered into that certain Restated Fifth Amendment (2018-2019) to Stadium Interim Management Agreement dated May 8, 2018 (the “Fifth Amendment”).

K. In order to avoid significant uncertainty, disruption and potential financial liabilities caused by the expiration of the Fifth Amendment in the middle of the 2019 baseball season, the Successor Agency and Storm entered into that certain Extension to Restated Fifth Amendment to Stadium Interim Management Agreement (“Extension”) dated June 26, 2018 which extended the term of the Fifth Amendment to September 30, 2019.

L. In order to provide for continued efficient and cost effective management, maintenance and operation of the Premises for October 1, 2019 to September 30, 2020, the Successor Agency and the Storm entered into that certain Sixth Amendment to Stadium Interim Management Agreement dated January 8, 2019 (the “Sixth Amendment”).

M. In order to provide for continued efficient and cost effective management, maintenance and operation of the Premises for October 1, 2020 to September 30, 2022, the Successor Agency and the Storm entered into that certain Seventh Amendment to Stadium Interim Management Agreement dated January 14, 2020 and the Amended and Restated Seventh Amendment to Stadium Interim Management Agreement dated January 12, 2021 (collectively the “Seventh Amendment”).

N. In order to provide for continued efficient and cost effective management, maintenance and operation of the Premises for October 1, 2022 to September 30, 2023, the Successor Agency and the Storm entered into that certain Eighth Amendment to Stadium Interim Management Agreement dated January 11, 2022 and the First Amendment to the Eighth Amendment to Stadium Interim Management Agreement dated September 13, 2022 (collectively, the “Eighth Amendment”).

O. In order to provide for continued efficient and cost effective management, maintenance and operation of the Premises for October 1, 2023 to September 30, 2024, the Successor Agency and the Storm entered into that certain Ninth Amendment to Stadium Interim Management Agreement dated January 10, 2023 ( the “Ninth Amendment”).

Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf - 3 -
P. In order to provide for continued efficient and cost effective management, maintenance and operation of the Premises for October 1, 2024 to September 30, 2025, the Successor Agency and the Storm entered into that certain Tenth Amendment to Stadium Interim Management Agreement dated January 9, 2024 ( the “Tenth Amendment”).

Q. The obligations set forth in the Interim Agreement and the First through Tenth Amendments have been included in prior Recognized Obligation Payment Schedules (ROPS) approved by the Successor Agency, the Oversight Board of the Successor Agency, the Countywide Oversight Board for Riverside County (“Oversight Board”) and the Department of Finance (“DOF”).

R. The 2020 and 2021 baseball seasons suffered tremendous challenges due to the COVID-19 pandemic. The Minor League baseball 2020 season was cancelled, the 2021 season modified and Stadium operations overall were significantly restricted. Major League Baseball (MLB) engaged in a sweeping overhaul of the player development structure during the 2020 off- season, eliminating the National Association of Professional Baseball Leagues (NAPBL) as the governing structure and cutting approximately twenty-five percent (25%) of minor league affiliates. Remaining affiliates, including the Storm, now contract directly with MLB under a new Player Development License agreement aimed at modernizing facilities and improving player training and logistics. In this restructure the Storm has been designated as a “Class A.” S. The impacts of COVID-19, MLB’s restructuring in 2020, the revised operational and capital requirements and facilities standards established by MLB in the Player Development License, enhanced cleaning requirements, increases in minimum wage and persistent inflationary pressures continue to affect Stadium operations. These impacts must be addressed in the Stadium operations budget assumptions and projections for the continued efficient and cost effective management, maintenance and operation of the Premises in accordance with the Stadium Operations Contracts and the Interim Agreement. In order to provide certainty to the Successor Agency and the Storm through the 2026 baseball season, the parties desire to enter into this Eleventh Amendment.

T. The Stadium Operations Contracts and the covenants, conditions, restrictions and reservations set forth in the Offer to Donate remain enforceable obligations within the meaning of Health and Safety Code (“HSC”) Section 34171(d)(1)(E) and the Successor Agency seeks to (1) provide for the continued efficient and cost effective management, maintenance and operation of the Premises, and (2) retain the Storm, which possesses the experience and qualifications to continue to carry out such obligations. Engagement of the Storm is necessary and consistent with the legislative authorization contained in HSC Section 34171(d)(1)(F) allowing successor agencies to enter into enforceable obligations for the purpose of maintaining the assets of the former Redevelopment Agency and to ensure that the “Lake Elsinore Storm,” owned by Storm LP, continues to play its home baseball games at the Stadium in accordance with the Stadium Operations Contracts.

U. Capital Repairs to the Premises are necessary to protect the structural components and operational systems of the thirty (30) year old Stadium and to protect the safety of the players and the spectators consistent with applicable laws and regulations, including compliance with Health & Safety Code, Fire Code, Building Code, ADA, mandatory recycling standards, new MLB requirements for minor league facilities, audit standards, and emergency repairs. The Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf - 4 -
Capital Repair schedule for the period commencing October 1, 2025 through September 30, 2026 (Exhibit “C”) includes these necessary improvements and repairs previously scheduled and either underfunded due to increased costs or not completed to due to scheduling delays. The Successor Agency is responsible for all Capital Repairs.

V. In accordance with HSC Section 34177(o)(1), the Successor Agency adopted and submitted to DOF a Recognized Obligation Payment Schedule (“ROPS”) for the period from July 1, 2025 through June 30, 2026 which includes the Successor Agency obligations set forth in the Tenth Amendment and this Eleventh Amendment and lists, among other things, as enforceable obligations of the Successor Agency, the following obligations related to the Premises as more fully described and referenced therein:
(i) Concession License Agreement, as amended (“Concession Agreement”); (ii) License Agreement, as amended (“License Agreement”); (iii) Stadium Field and Maintenance Agreement, as amended (“Maintenance Agreement”);
(iv) Stadium operations and maintenance obligations; and (v) the Interim Agreement.

W. In furtherance of the purpose and intentions of the parties with respect to the Interim Agreement, the parties hereto agree to amend the Interim Agreement as provided herein.

AGREEMENT
NOW THEREFORE, in consideration of the foregoing Recitals and the terms contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties do hereby agree as follows:

1.Business Plan. Not later than March 1 of each year during the Term, the Storm shall submit to the Executive Director of the Successor Agency (“Executive Director”) a Business Plan detailing the Storm’s operational and financial objectives for the Lake Elsinore Diamond Stadium during the Term of this Interim Agreement, as amended, including the 2025 and 2026 baseball seasons. The Business Plan shall include (a) management and labor requirements, (b) marketing and promotional objectives, including special events, advertising and cross-marketing efforts, (c) a COVID-19 Readiness Plan and proposals to improve general maintenance and efficiencies which may include updated and revised Maintenance Schedules for all areas of the Premises, including the concourse, snack bar and concession areas, outdoor landscaping and trash enclosures, (d) license, permit or other approval applications or renewals, if any, and (e) other relevant data or information relating to the performance by the Storm of its obligations under the Interim Agreement as amended.

2.Maintenance. Section 2.1 of the Interim Agreement, entitled “Maintenance” is hereby amended and restated in its entirety as follows:

Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf - 5 -

2.1 Maintenance
(a) Maintenance Standards. The Storm shall be solely responsible for complying with the Maintenance Standards (Exhibit “B”) and shall comply with all applicable MLB maintenance standards and protocols as set forth in the Player Development License and all applicable federal, state and local requirements (including guidelines issued by the Center for Disease Control and the Riverside County Public Health Department) relating to COVID-19 or other public health concern. Subject to the Successor Agency’s obligations herein with respect to Capital Repairs, the Storm shall take all additional necessary actions to maintain the Premises and all components thereof, of whatever kind or nature, to keep the Premises in a first class condition and a good state of appearance and repair, ordinary wear and tear excepted.
(b) Revised Maintenance Standards. The Maintenance Standards (Exhibit “B”) are comprised of several distinct schedules that have been complied over many years. The Successor Agency and the Storm agree to work together in good faith to prepare an updated comprehensive schedule of maintenance standards designed to maintain the Premises and the Stadium as a first class facility. A third party facilities consultant may be engaged to assist in this regard. Once completed, the updated Maintenance Standards will be attached hereto and replace Exhibit “B”.
(c) Exterior Maintenance. Due to limited staffing and resource challenges, the Storm has been unable to perform exterior maintenance services consistent with a first class facility and the Maintenance Standards. To address this deficiency, the Successor Agency has engaged professional tree trimming and landscape contractors to perform essential landscape and general maintenance services on the exterior of the Premises, including the parking lots, planter area, and the areas (including the slopes) behind the outfield fences. In addition, City public works staff are available on-call as needed in special circumstances to ensure the Premises are maintained in accordance with this Agreement. The Successor Agency shall invoice the Storm for the actual costs of maintenance services and the Storm shall promptly reimburse the Successor Agency for those costs. Storm reimbursement for the Agency’s maintenance costs shall be paid to the Successor Agency not later than fifteen (15) days from the date of invoice.

3.Review Meetings. Section 2.4 of the Interim Agreement, entitled “Review Meetings” is hereby amended and restated in its entirety as follows:

2.4 Review Meetings; Facilities Inspections & Budget.
(a) Quarterly Meetings. As often as necessary, but in no event less than one time per quarter during the Term, two representatives of the Storm, including the General Manager, or designee, and two representatives of the Successor Agency, including the Executive Director, or designee, shall meet at a mutually agreed upon time and place in order to discuss the condition of the Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf - 6 -
Stadium and the Storm’s performance of its obligations in accordance with this Agreement and any other applicable issues.
(b) Periodic Inspections. As often as necessary, but in no event less than one time during the Term, the Successor Agency shall engage a third party inspector to inspect the Premises and evaluate the condition of the capital facilities as well as the general maintenance of the Premises. The Executive Director shall provide the General Manager not less than fifteen (15) days prior notice of the third-party inspection(s). Capital facility repair needs identified by the third party inspector shall be incorporated into the Schedule of Capital Repairs pursuant to Section 2.4(c). Maintenance deficiencies identified by the third party inspector shall be remedied by the Storm as necessary to keep the Premises in a first class condition and a good state of appearance and repair consistent with the Maintenance Standards and as required by this Interim Agreement. Failure by the Storm to remedy maintenance deficiencies identified by the third party inspector shall be a Default pursuant to Section 19.1 of this Interim Agreement. (c) Annual Facilities Inspections & Budget. Not later than September 30 of each year during the Term, two representatives of the Storm, including the General Manager, or designee, and two representatives of the Successor Agency, including the Executive Director, or designee, shall (i) inspect the Stadium and conduct a facilities review to assess the condition of the Stadium and capital repair needs, and (ii) review the annual revenues and operating expenses for the prior October 1 – September 30 period to assess operational efficiencies. Prior to November 1, 2025, the General Manager, or designee, and the Executive Director, or designee, shall complete an Annual Operating Budget and Schedule of Capital Repairs, including estimated costs, for the period commencing October 1, 2026 – September 30, 2027.

4.Utilities. Section 5 of the Interim Agreement, entitled “Utilities” is hereby amended and restated in its entirety as follows:

5. Utilities. Notwithstanding any contrary provision contained in the Stadium Operations Contracts, the Storm shall be responsible for the payment of all Utilities regardless of whether the utility account is in the name of the Storm, the Successor Agency or City of Lake Elsinore. The Storm agrees to cooperate with the Successor Agency to explore ways to incorporate the use of or replace existing systems with alternative clean energy and to improve energy efficiency, including electrical utility savings by way of power purchase agreements through the Southwest Riverside County Energy Authority. An energy assessment will be conducted during the Annual Inspection/Facilities Review pursuant to Section

2.4(c) and an amount equal to any savings accounted for from the prior fiscal year shall be subtracted from the Additional Interim Management Fee to be paid for the following fiscal year pursuant to Section 7.2(d).

Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf - 7 -

5.Term of Agreement; Termination. Section 6 of the Interim Agreement, entitled “Term of Agreement; Termination,” is hereby deleted in its entirety and replaced with the following:

6. Term of Agreement; Termination

6.1. Term. The term of this Interim Agreement (hereinafter the “Term”) shall commence on the Effective Date and shall, unless earlier terminated in accordance with Sections 6.2, 19, or 20 hereof, shall expire September 30, 2026.

6.2. Rights of Termination.
(a) September 30, 2025 Termination. Successor Agency
may terminate this Interim Agreement effective as of September 30, 2025, by giving written notice thereof to the Storm no later than June 30, 2025. (b) Default. The Successor Agency and Storm shall have the right to terminate this Interim Agreement as a result of an uncured Default hereunder.

Any such termination shall be made in accordance with Sections 19 or 20. (c) Party’s Property and Offset. Upon termination of this Interim Agreement under this Section 6.2, all materials and equipment purchased by either Party hereunder in connection with this Interim Agreement shall remain that Party’s property. In addition, the Storm shall be entitled to payment for all of the Storm￿s services rendered hereunder through the effective date of any such termination. (d) Effect of Termination. Notwithstanding the termination of this Interim Agreement pursuant to this Section 6.2, the provisions of the Stadium Operations Contracts shall remain in full force and effect. In the event this Interim Agreement expires or is terminated prior to the expiration or termination of the Stadium Operations Contracts, then the Stadium Operations Agreements shall be enforceable in accordance with their terms and the Parties thereto shall perform in accordance with their respective rights and obligations.

6.Stadium Use. Section 4.3 of the Interim Agreement, entitled “Stadium Use,” is hereby deleted in its entirety and replaced with the following:

4.3. Stadium Use.
(a) Storm Games. During the Term, the Storm shall play its home baseball games at the Stadium, including pre-season, regular season and play-off games as scheduled by the MLB and shall have the right to use the Stadium for baseball practices and workouts. Upon receipt from the MLB, each year during the Term, the Storm will provide the Executive Director with the written, proposed schedule for all professional baseball games involving the Storm for the coming baseball season including all pre-season games, a reasonable number of dates to be held for playoff games, as required by the MLB, and practices and workouts (collectively, the “Storm Games”). Storm Games will be the first priority for the Master Calendar (defined hereinbelow) of each annual term of the Interim Management Agreement.

Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf - 8 -
(b) Other Stadium Events. Subject to the terms and
conditions of this Interim Agreement, including the scheduling protocols set forth in subsection (b)(i) hereinbelow, the Parties desire to promote the Stadium as an premier entertainment venue to increase patronage and revenues to the Stadium. Pursuant to that objective, the Storm and the Agency may use the Stadium or portions thereof for non- baseball related exhibitions, ceremonies, concerts, civic events and festivals and other events on dates which the Stadium is not otherwise in use for Storm Games or other reserved uses and upon written approval by Successor Agency’s Executive Director, or designee, which approval shall not be unreasonably withheld. The use of the Stadium or any portion thereof, including without limitation the Stadium concourse, field, Diamond Club (now known as the Diamond Taproom (“DTR”)), Speakeasy, and parking lots by the Storm, the Successor Agency, third party promoters, or any combination thereof for uses other than Storm Games are collectively referred to herein as “Other Stadium Events.” The requirements of this Section 4.3 shall apply retroactively and shall govern Stadium use pursuant to the terms of the Tenth Amendment commencing October 1, 2024 and on a going forward basis pursuant to this Eleventh Amendment. i. Master Calendar. Subject to the baseball primacy
guidance of Section 4.3(a) above, the Agency Executive Director or designee shall assume all rights and responsibilities for scheduling Other Stadium Events and shall maintain a Master Calendar of all Storm Games and Other Stadium Events. In order to avoid conflicting events and compatibility of multiple events on the same day, the Agency Executive Director or designee will maintain open communications and will consult with the Storm prior to scheduling any Other Stadium Events during the baseball season so that the Parties can consider the scope of the event, the use of the Stadium and any potential impacts on baseball operations and to provide sufficient time for Storm and Agency and any third party promotor engaged by the Agency to agree to terms of the Storm services to be provided, concessions operations, revenue sharing, and Agency/promoter responsibilities.
ii. City/Agency Events. Other Stadium Events
sponsored by the Agency/City and its event partners will not be advertised any sooner than 30 days after scheduling on the Master Calendar and notice to the Storm. Subject to the terms agreed to by the Agency/City and its event partners, the Storm and/or GCSS will be compensated reimbursed for services provided. Any third party promotor shall be required to reimburse and indemnify Storm and the Agency/City for any damage caused by the use of the Stadium for Other Stadium Events, provide the required insurance, including naming the Agency/City and the Storm entities as additional insureds, and abide by reasonable operating guidelines for use of Storm and/or Agency equipment and facilities.
iii. Storm Events. The Storm will submit Other
Stadium Event requests on forms prescribed by the Successor Agency to the Executive Director, or designee, including the proposed use, area of use, date(s), and anticipated attendance. Requests shall be submitted at the earliest possible time to facilitate the Successor Agency’s Master Calendar scheduling. Other Stadium Events may be reserved Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf - 9 -
on the Master Calendar subject to issuance of any required permits or approvals, including a City Special Events Permit, if applicable. The Storm will not advertise an Other Stadium Events prior to approval by the Agency Executive Director or designee.

The Storm will also submit to the Agency Executive Director or designee the proposed regular hours of operation of the DTR, any special events or performances therein and any reserved functions and any changes thereto to be incorporated in the Master Calendar.
iv. Lake Elsinore Diamond Stadium. All
promotional and marketing materials for all Storm Games and Other Stadium Events shall include the name “Lake Elsinore Diamond Stadium.” v. Special Event Permit. The Storm shall obtain a
Special Event Permit from the City of Lake Elsinore for Other Stadium Events that are subject to the requirements of Chapter 5.108 of the Lake Elsinore Municipal Code, as now exists or as may hereafter be amended. In compliance with the City’s Special Event Permit requirements, the Storm shall submit an application not less than sixty (60) days prior to the requested Other Stadium Event and shall comply with the Special Event Permit Requirements (Exhibit “D” attached hereto and incorporated by reference herein) and such additional conditions of approval as may be deemed necessary or appropriate by the City in connection with the issuance of a Special Event Permit. Concurrent with the submittal of the special event application package to the City, the Storm shall notify the Executive Director, or designee, in writing in accordance with Section 4.3(b)(iii) above, including the proposed date and title of the Other Stadium Event and a promotional/marketing plan demonstrating the anticipated attendance. At least two representatives from the Storm and two representatives from the Agency/City shall attend all special event planning meetings. The Parties agree that an Other Stadium Event may include multiple consecutive or non-consecutive days as defined in a single Special Events Permit.
vi. Governmental Regulations/Permits. The Storm
shall comply with all applicable local, state, and federal laws, ordinances, rules, regulations and requirements (including without limitation land use and zoning, environmental, labor and prevailing wage, occupational Health & Safety, building and fire codes) in connection with the promotion and operation of Other Stadium Events and shall apply for, secure, maintain and comply with all required licenses and/or permits.

The Storm shall use commercially reasonable efforts to cause any users of the Stadium to report and pay sales taxes as generated within the City in accordance with all applicable laws.
vii. Quality Standards. The Storm shall conduct Other
Stadium Events in accordance with the highest standards for cleanliness and quality and shall comply with all applicable terms and conditions of this Interim Agreement and the Stadium Operations Contracts.
viii. Budget Report. Revenues and expenses for each
Other Stadium Event, including the compensation due to the Successor Agency pursuant to Section 7.3, shall be reported in the annual report prepared in accordance with Section

2.4(c)(ii).

Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf - 10 -
(c) City/Agency Use. Subject to the scheduling protocols of Section 4.3(b) above, the Successor Agency as owner of the Premises, for itself and on behalf of the City of Lake Elsinore, reserves the right to use the Stadium or any portion thereof, including without limitation the Agency Suite, Stadium concourse, field, DTR, Speakeasy, and parking lots, for meetings, conferences, civic events, private party, fundraising, educational or instructional events and presentations, concerts and entertainment, and other events.
(d) Agency Suite. For all Storm Games and Other Stadium Events, free of any charge to Successor Agency, the Storm shall (i) secure and deliver to the Successor Agency tickets and parking passes for use of the Agency Suite, or (ii) provide reasonable alternative methods of access to the Agency Suite and Agency Parking. In the event the Successor Agency elects not to use the Agency Suite for any Other Stadium Event, the Storm, including its representatives and invitees, may use the Agency Suite. The Storm shall indemnify and hold the Successor Agency and the City harmless from any loss, cost or expense or damage to Successor Agency property associated or in connection with use of the Agency Suite by third parties.

7.Compensation. Section 7 of the Interim Agreement, entitled “Compensation,” is hereby deleted in its entirety and replaced with the following:

7. Compensation

7.1. Stadium Operations Contracts Recap. Pursuant to the Stadium Operations Contracts, the Storm and/or the Successor Agency are entitled to compensation during the Term as follows:
(a) License Fee: Under the License Agreement, the Storm is required to pay to the Successor Agency a License Fee in the amount of $638,598 for the period commencing October 1, 2025 through September 30, 2026. (b) Concessions Fee: Under the Concession Agreement, as amended by the First through Third Amendments, the Storm’s affiliate, Golden State Concessions and Catering, Inc. is required to pay Successor Agency Eighty-Four Thousand Dollars ($84,000) pursuant to Section 6 thereof (the “Concession Fee.”) for the period commencing October 1, 2025 through September 30, 2026. (c) Annual Maintenance Fee: Under the Maintenance
Agreement, Successor Agency is required to pay Storm an Annual Maintenance Fee in the amount of $302,851 for the period commencing October 1, 2025 through September 30, 2026.

7.2. Compensation Due to Storm. Commencing upon the
Commencement Date (October 1, 2025), and continuing through the expiration of the Term, as consideration for the performance of the services set forth herein, the Storm shall be compensated as follows:

Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf - 11 -
(a) Assignment of Concession Fee. Successor Agency hereby assigns Successor Agency’s right to payment of the Concession Fee under the Concession Agreement to the Storm during the Term; and
(b) Waiver of License Fee. Successor Agency hereby waives Successor Agency’s right to payment of the License Fee under the License Agreement during the Term as an offset against the payments due by the Successor Agency to the Storm for the performance of the services hereunder; and (c) Payment of Annual Maintenance Fee. Successor Agency shall pay the Annual Maintenance Fee as identified in Section 7.1(c) (i.e., $302,851 for the period commencing October 1, 2025 through September 30, 2026), which shall be payable in equal monthly installments.
(d) Payment of Additional Interim Management Fee.

Successor Agency shall pay to Storm an “Additional Interim Management Fee” in the amount of $916,664 for the period commencing October 1, 2025 through September 30, 2026, which shall be payable in equal monthly installments.

The Annual Maintenance Fee together with the Additional Interim Management Fee will result in total cash payment from the Successor Agency to the Storm of $1,219,515 for the period commencing October 1, 2025 through September 30, 2026 as consideration for services provided under the Stadium Operations Contracts and this Interim Agreement, which aggregate amount shall be payable in equal monthly installments of $101,626.25 for the period commencing October 1, 2025 through September 30, 2026.

The Storm acknowledges and agrees that in no event will the Successor Agency be required to provide the Storm with any other form of payment for performance of the services as provided in this Interim Agreement. The parties acknowledge that the historic operating costs of the Stadium equal or exceed the compensation due to Storm hereunder and that it is in each of the Party’s best interests to enter into this Interim Agreement for the efficient use and operation of the Stadium.

7.3. Compensation Due to Successor Agency for Storm Games and Other Stadium Events. The Storm shall pay the Successor Agency an amount equal to One Dollar ($1.00) per ticket for every ticket sold to Storm Games and Other Stadium Events through its Ticketing Agreement dated November 30, 2023. Payment pursuant to this Section 7.3 shall be made monthly or as otherwise agreed by the Executive Director and shall be accompanied by a report of ticket sales for each Storm Game and Other Stadium Event. The Successor Agency shall retain these funds for exclusive use by the Agency to promote the Stadium as a premier special events venue and to offset the increasing costs of capital repairs, maintenance, management and operation of the Premises. The requirements of this Section 7.3 shall be retroactive to the Tenth Amendment commencing October 1, 2024.

8.Capital Repairs. Section 8 of the Interim Agreement, entitled “Capital Repairs,” is hereby deleted in its entirety and replaced with the following:

Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf - 12 -

8. Capital Repairs.

Capital Repairs shall be governed by the applicable provisions of the Stadium Operations Contracts and as set forth herein. As defined in the Maintenance Agreement, “Capital Repairs” means all activities, and the provision of all labor and materials which are reasonably required to improve, repair, refurbish, modify, restore and/or replace, when reasonably necessary, the Stadium, or portions or components thereof, and the costs and expenses of which equal or exceed Five Hundred Dollars ($500.00). Notwithstanding the foregoing, the term Capital Repairs as used herein does not include the Storm’s responsibility for maintenance and upkeep as set forth in Section 2 of this Interim Agreement and the Maintenance Standards (Exhibit “B”).

A Capital Repair Schedule with estimated costs for the period commencing October 1, 2025 through September 30, 2026 is set forth in Exhibit “C” attached hereto and incorporated by reference herein. The Capital Repair Schedule is intended to assist the Successor Agency in budgeting for Capital Repairs during the Term, but does not limit the Successor Agency’s responsibilities under the Stadium Operations Contracts. Upon receipt of real property tax trust funds for Capital Repairs, the Executive Director shall, to the extent permitted by applicable legal requirements, deposit those funds into a Capital Repair trust account to be expended by the Successor Agency solely for purposes of satisfying its Capital Repair obligations consistent with the Stadium Operations Contracts and this Interim Agreement.

The Executive Director or designee will designate certain Capital Projects that shall be subject to the Department of Public Works’ direct administration of the bid process and award of contract consistent with the applicable legal requirements. The Storm will undertake and complete such other Capital Repairs as set forth in Exhibit “C” as are mutually agreed. To the extent that the Storm undertakes such other Capital Repairs not undertaken by the Successor Agency, the Storm shall obtain not less than three (3) bids from qualified contractors unless otherwise excused by the Executive Director. Without limiting the Executive Director’s discretion, the bidding requirement herein may be excused in situations involving emergencies and sole source contractors. In addition, the Storm acknowledges the general requirement that certain Capital Repairs are subject to the requirements of California Labor Code Section 1720, et seq., and 1770, et seq., as well as California Code of Regulations, Title 8, Section 16000, et seq., (“Prevailing Wage Laws”), which require the payment of prevailing wage rates with respect to certain capital improvements, repairs and maintenance work paid for in whole or in part out of public funds. Accordingly, the Storm agrees to, in the administrative of the bidding and contractor selection process, inform prospective bidders of the requirement to comply with the Prevailing Wage Laws. The Storm may confer with the Executive Director and seek direction with respect to whether or not a certain Capital Repair is subject to the Prevailing Wage Law.

Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf - 13 -
Prior to the Storm awarding a contract for a Capital Repair to a qualified contractor, the Executive Director shall: (i) confirm that the Storm has followed the proper bidding procedures for selection of a contractor; and (ii) approve the selection of the contractor and the form of any agreement between the Storm and the contractor.

Upon completion of the Capital Repair (or a component thereof supporting a deposit or in-progress reimbursement), the Storm shall deliver to the Executive Director a written reimbursement request and supporting documentation (such as third party invoices, lien releases and cancelled checks). To the extent that the reimbursement request is for a completed Capital Repair, the Storm shall, if applicable, submit as-built drawings or similar plans and specifications for the items to be reimbursed.

9.Insurance. Section 10 of the Interim Agreement, entitled “Insurance” is hereby amended and restated in its entirety as follows:

10. Insurance. The Storm shall maintain insurance as set forth in Section 13 of the License Agreement at all times during the term of this Interim Agreement.

In addition, the Storm shall maintain liquor liability coverage in an amount not less than $5 million at all times during the term of this Interim Agreement. The liquor liability coverage required pursuant to this Section 10 shall be separate from the coverage that may be required by the City of Lake Elsinore as a condition of approval to a Special Event Permit obtained in accordance with Section 4.3(b) herein.

8.City Manager/Executive Director. The City Manager of the City of Lake Elsinore serves in the capacity as Executive Director of the Successor Agency and all references to “City Manager” in the Interim Agreement shall be synonymous with “Executive Director” as used in this Eleventh Amendment and vice versa.

9.Accuracy of Recitals. The Parties acknowledge the accuracy of the foregoing Recitals, which are incorporated herein by this reference.

10.Authority; Priority of Amendment. This Eleventh Amendment is executed by the Parties’ authorized representatives. Except as expressly modified herein, all of the terms of the Interim Agreement shall remain unchanged and in full force and effect, and the Parties shall continue to fulfill their respective obligations under the Interim Agreement as amended by this Eleventh Amendment. To the extent of any conflict between the terms of the Interim Agreement and the terms of this Eleventh Amendment, the terms of this Eleventh Amendment shall control.

11.Captions. The captions appearing in this Eleventh Amendment are for convenience only and are not a part of this Eleventh Amendment and do not in any way limit, amplify, define, construe, or describe the scope or intent of the terms or provisions of this Eleventh Amendment.

Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf - 14 -

12.Counterparts. This Eleventh Amendment may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute but one and the same document.

13.Commencement Date. The provisions of this Eleventh Amendment shall commence on October 1, 2025 (the “Commencement Date”).

IN WITNESS WHEREOF, the parties have executed this ELEVENTH AMENDMENT TO STADIUM INTERIM MANAGEMENT AGREEMENT on the respective dates set forth below. “SUCCESSOR AGENCY”

SUCCESSOR AGENCY OF THE

REDEVELOPMENT AGENCY OF THE

CITY OF LAKE ELSINORE
Dated: By:

Jason Simpson, Executive Director
ATTEST:

SUCCESSOR AGENCY SECRETARY
By:

Candice Alvarez, MMC
APPROVED AS TO FORM:

LEIBOLD McCLENDON & MANN, P.C.

Successor Agency Counsel
By:

Barbara Leibold
“STORM”
LAKE ELSINORE STORM LP, a
California limited partnership
By:GJJ STORM MANAGEMENT,
LLC, a California limited liability
company
Its: General Partner
Dated: By:

Gary E. Jacobs, Manager
Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf EXHIBIT “C”
EXHIBIT “C”

CAPITAL REPAIR SCHEDULE
OCTOBER 1, 2025 TO SEPTEMBER 30, 2026

DESCRIPTION ESTIMATED COST
Restroom plumbing (Concourse/ Suite Level) $ 225,000
Drought Resistant Landscape Replacement and Repair $166,850 Maintenance Equipment Replacement $ 100,000
Security System/Fire System $ 95,000
Maintenance Facility Replacement $ 450,000
ADA Ramp $ 100,000
Elevator Replacement $ 200,000
Locker Room Tile Replacement $ 13,500
Block Wall Capital Repair $ 180,000
Emergency Capital Repairs $ 175,000
Laundry Room Repair $ 50,000
Seal off the open attic in the entire stadium $ 350,000 The First Base Vending Room (walls, tile fix, ceiling) $ 20,000 Irrigation Capital Repairs $ 352,000
Suite Pantry & Walk In Cooler $ 40,000
Trash Enclosures $ 110,000
Fencing & Signage Capital Repairs $ 175,000
Visiting Locker Room Repair Shortfall $ 107, 800
TOTAL $2,910,150
Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf EXHIBIT “D”
EXHIBIT “D”

LAKE ELSINORE DIAMOND STADIUM

SPECIAL EVENT PERMITS REQUIREMENTS

OTHER STORM EVENTS

1. Spectator Parking and Attendants:
a. The location of spectator parking is designated as the Diamond Stadium Parking lot(s) A, B & C.
b. Appropriate Staffing for parking fees and direction is required.

2. ADA Compliant:
a. Provide ADA Accessible Parking as close as practicable to the tract and admission area.
b. Provide ADA Restrooms as near as practicable to the track and concession stands. c. Have personnel ready to assist handicap patrons as needed.

3. Event Access:
a. Event access shall be coordinated with City Public Works Department Staff. b. No modifications to dirt right of way are permitted (levee, Malaga Rd). c. During hours of event operation, no vehicles shall be permitted to drive into, around, inside or leave the Event (base area).
d. Access across private property for the Event Obstacle Course and Parking shall be secured with notarized right of entry permission.

4. Vendors & Exhibitors:
a. All vendors selling food shall have the appropriate Riverside County Health Department Permits and submit to the Special Events Coordinator 20 days prior to event.
b. All vendors selling products/services are required to maintain a City of Lake Elsinore Business License during the duration of the event (for convenience, the City offers one-day business licenses).
c. A minimum of an eight-foot aisle way shall be provided between concessions, waste and sanitation facilities.
d. Food vendors shall provide the equivalent of two 30-gallon trash containers within ten (10) feet of their concessions.
e. Organizers shall provide one (1) standard booth space free of charge to the City.

5. Removable Fencing
a. All removable fencing (bike or concert) must be secured as on immovable object.

Each section must be secured so it cannot be broken, separated or moved by patrons. The Fire Marshal and Law Enforcement representative shall inspect the fencing prior to gates opening for the event.

6. Crowd Control:
a. All security officers must be crowd control trained.

Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf EXHIBIT “D”

7. Generators:
a. All liquid fuel generators shall have secondary containment and a spill kit located within 100 feet of the secondary containment.

8. Amplified Sound & Noise Level:
a. Amplified sound, live music and performances are permitted during the event. b. The Organizers shall not violate the City’s noise ordinance by disturbing the peace.

9. ABC Licensing and Permits:
a. ABC Application to be submitted to the Sheriff’s Department no later than 20 days prior to the event.
b. Applicant must comply with any and all requirements regulations indicated by the Department of Alcoholic Beverage Control. The issuance of an ABC letter is conditional and is subject to revocation for any violation of the Alcohol Beverage Control Act or other state law. Adequate security measures must be in place to secure all alcoholic beverages from patrons and to prevent accessibility to minors. i. Beer-ID checks on all persons 21 years and older wishing to purchase alcohol AND PUT A WRISTBAND ON EVERY PERSON 21 YEARS OR OLDER.
ii. Limit of one (1) alcohol beverage per person per sale. iii. Alcohol sales to cease one (1) hour prior to end of event

10. Event Staffing:
a. Applicant will provide a detailed security plan indicating security staffing levels and assignments subject to Sheriff’s approval 20 days prior to the event.

11. Law Enforcement: To Be Determined Based on Dates, Times, Location & Anticipated Attendance
a. Motor Officers -
b. Officers -
c. Sheriff Sgt. -
d. Mileage -

12. Accessibility of Law Enforcement and Emergency Responders:
a. There shall be unobstructed access ways into the event for Law Enforcement and other emergency responders. There shall be clearly marked, unobstructed exits for patrons in the case of an emergency or the need for evacuation arises.

13. The Fire Safety requirements of the Lake Elsinore Fire Protection Planning are hereby referenced as a separate attachment and incorporated herein as part of the City’s conditions of approval.

14. Traffic Control:
a. Traffic Control implementation and operation shall be according to the California Manual of Uniform Traffic Control Devices (CAMUTCD) or another City approved plan.

Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf EXHIBIT “D”
b. Signal timing coordination may be required at the discretion of the City Traffic Engineer.
c. Provide diagram in support of sufficient parking (i.e approx. 3,500 spaces for attendance of 10,000) – to be adjusted based on anticipated attendance.

15. Portable Toilets and Wash Stations:
a. All portable toilets and rinse stations shall be placed on level ground, be anchored and have secondary containment.
b. Provide sufficient # of portable toilets (regular and ADA accessible) for anticipated event turnout. Contact your rental source for guidance.

16. Trash and Clean-Up:
a. CR&R has an exclusive franchise for trash service in the City. They shall be used for trash containers for recycled and non-recycled trash/waste and for trash disposal.
b. Regular and recyclable trash containers shall be placed throughout the Vendor Village (aka Lot B) and parking lots (aka Lots A, C and D). c. Clean-up of Lot B, Vendor Village shall be accomplished using dry clean-up methods; in the event wet clean-up is warranted, catch basins shall be protected and at no time shall runoff be directed to the Levee/Lake area. d. Best Management Practices shall be implemented during clean-up; no discharge into the Lake or City storm drain system is allowed.
e. Organizers are responsible for same day clean-up of any tracking from the Event onto City streets (Diamond Circle, Malaga Road, Pete Lehr Drive, etc.)

17. Environmental:
a. Organizers are responsible for ensuring that pollutants from the event do not enter the lake. City Municipal Code 14.08 defines "Pollutant" as:
“Pollutant” means anything which causes the deterioration of water quality such that it impairs subsequent and/or competing uses of the water. Pollutants may include but are not limited to paints, oil and other automotive fluids, soil, rubbish, trash, garbage, debris, refuse, waste, hazardous waste, chemicals, animal waste, offensive matter of any kind.
b. If event dirt is imported from outside the back basin area, it shall be removed from the back basin area after the event.
i. A haul route is required for all import.
ii. Hauling from a site in within the City limits requires a grading permit on the export site.
iii. For import of more than 5,000 cubic yards, City Council Approval is required.
c. If event dirt is secured from within the back basin area, it may be returned to the source. All disturbed areas shall be returned to the pre-disturbance condition as closely as possible.
d. Catch basins in the field maintenance area shall be protected from event related discharge.
e. If a rain event is forecast (10% chance or better) or occurring during a scheduled event, off site catch basins at Pete Lehr and Malaga Road shall be protected.

Attachment 3 - Eleventh Amendment to Stadium Interim Management Agreement.pdf EXHIBIT “D”

18. Insurance:
a. The Organizer(s) shall provide the City with a certificate(s) of insurance in the following amounts (subject to change based upon review of Special Event Permit Application):
□General Aggregate Per Event: $5,000,000
□Auto Liability: $1,000,000
□Workers Comp: $1,000,000
□Alcohol: $5,000,000
b. The Organizer’s shall use the following additionally insured statement:

City of Lake Elsinore its officers, elected and appointed officials, officers, agents, and employees are named as additional insured per attached ISO form CG20 10 11

85. 19. Promotion/Marketing Plan:
a. The Organizer(s) shall provide the City with a promotional/marketing plan demonstrating the anticipated attendance.
b. All promotional/marketing materials shall include the name “Lake Elsinore Diamond Stadium.”

20. The City assumes no responsibility for event related damage or repairs to the Stadium.

21. Summary of Fees:

City Permit Application Processing Fee: Prevailing Rate as of Application Date City Refundable Security Deposit Fee: “
City Department Inspection Fee: “
Sheriffs Law Enforcement Fees (Paid to RSO): “

22. The Special Event Permit may be revoked summarily by the City for non-compliance with any of these conditions as set forth above.

Required information/documentation due no later than twenty (20) days prior to the event to the City of Lake Elsinore Special Event Coordinator:
□Conditions of Approval (2 copies with wet signatures and initials) □Payment of Event Fees
□Security Deposit (on-file)
□Vendor List
□Business License(s)
□Health Department Permit
□Insurance Documentation
□Fire Safety Plan
□Traffic Control Plan

REPORT TO THE SUCCESSOR AGENCY OF THE

REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE
To:Honorable Chair and Members of the Successor Agency
From:Jason Simpson, Executive Director
Prepared by:Barbara Leibold, Agency Attorney
Date:January 14, 2025
Subject:Recognized Obligation Payment Schedule (ROPS 25-26) for July 1, 2025 through June 30, 2026
Recommendation

1. Find that the project is exempt from the California Environmental Quality Act (CEQA) pursuant to Section 15061(b)(3) of the State CEQA Guidelines; and

2. Adopt a RESOLUTION OF THE SUCCESSOR AGENCY OF THE REDEVELOPMENT

AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 25-26) AND ADMINISTRATIVE BUDGET FOR THE PERIOD JULY 1, 2025, THROUGH JUNE 30, 2026 Background
As part of the dissolution of the former Redevelopment Agency, Health and Safety Code Section 34177 (added by AB 1X 26, as amended to date) requires the Successor Agency to adopt a Recognized Obligation Payment Schedule (ROPS) that lists all obligations of the former redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34167 for each twelve month period of each fiscal year. The Successor Agency has previously adopted ROPS for prior twelve month periods. The previous ROPS have been approved by the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore and the State Department of Finance (DOF).

Discussion
Applicable law requires that the ROPS for July 2025 through June 2026 be submitted to DOF and the State Controller’s office, after approval by the Riverside Countywide Oversight Board, no later than February 1, 2025. The DOF has five (5) days after submittal to request a review and forty- five (45) days to review the ROPS if it decides to do so. If the ROPS is not submitted by the deadline, the City is subject to a $10,000 fine for every day the ROPS is late and the administrative cost allowance for the Successor Agency is reduced by 25% after 10 days.

ROPS 25-26 Approval

The attached ROPS 25-26 for the period July 1, 2025 – June 30, 2026 follows the form prescribed by the DOF and incorporates all of the remaining obligations identified in the previous ROPS.

Notably, the Housing Fund Loan (Line 20) has been retired along with other less significant obligations. As a result, the RPTTF required to fund the Successor Agency’s enforceable obligations in the 25-26 ROPS is reduced by more than $8.2 million compared to the 24-25 ROPS period. As the Successor Agency winds down the former Redevelopment Agency, the primary remaining enforceable obligations are the outstanding bonds, Stadium operation and maintenance, and the Summerly Disposition and Development Agreement. No new line items have been added.

In compliance with DOF guidance, all administrative costs have been combined into one line item and Successor Agency staff has prepared the attached administrative budget for the fiscal period commencing on July 1, 2025 and continuing through June 30, 2026 (“FY 2025 - 2026 Administrative Budget”). The Successor Agency is entitled to an administrative cost allowance (the “Administrative Cost Allowance”) pursuant to Health and Safety Code Sections 34171(b) and 34183(a)(3) in the approximate amount of $549,329 for the 2025-25 fiscal year of which approximately $274,665 will be disbursed July 1, 2025 and approximately $274,665 will be disbursed January 2, 2026.

The attached ROPS 25-26 and FY 2025-2026 Administrative Budget will be considered by the Riverside Countywide Oversight Board on January 16, 2025 and subsequently submitted to the State Department of Finance.

CEQA Exemption
Pursuant to the California Environmental Quality Act (CEQA), based upon a review of the evidence and information presented on the matter, adoption of the ROPS FY 2025-26 and the Administrative Budget FY 2025-26 is categorically exempt from CEQA pursuant to Section 15061(b)(3) of the State CEQA Guidelines because there is no possibility that the activities in question will have a significant impact on the environment and the amendment is merely the adoption of annual budget; it will not require any construction activities and will not lead to any direct or reasonably foreseeable indirect physical environmental impacts.

Attachments
Attachment 1 – Resolution
Exhibit A – ROPS 25-26
Exhibit B – Administrative Budget FY 25-26
City Attorney
RESOLUTION NO. SA-2025-___

A RESOLUTION OF THE SUCCESSOR AGENCY OF THE

REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE

APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE
(ROPS 25-26) AND ADMINISTRATIVE BUDGET FOR JULY 1, 2025 THROUGH JUNE 30, 2026
WHEREAS, the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore (the “Successor Agency”) is charged with implementing enforceable obligations and winding down of the affairs of the former Redevelopment Agency of the City of Lake Elsinore (the “Agency”) in accordance with the California Health and Safety Code; and WHEREAS, Senate Bill (SB) 107, enacted in September 2016, added Health and Safety Code Section 34177(o) requiring the Successor Agency to prepare and adopt a “Recognized Obligation Payment Schedule” that lists all obligations of the former redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34171 for twelve month periods, including July 2025 through June 2026; and
WHEREAS, applicable law requires that the ROPS 25-26 for the period July 1, 2025 through June 30, 2026 be submitted to the Department of Finance and the State Controller’s office, after approval by the Riverside Countywide Oversight Board, no later than February 1, 2025 or be subject to penalties; and
WHEREAS, the Successor Agency staff has prepared an administrative budget for the fiscal period commencing on July 1, 2025 and continuing through June 30, 2026 (“FY 2025-26 Administrative Budget”), substantially in the form shown in Attachment “B”, attached hereto and incorporated herein by this reference;
WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred.

NOW, THEREFORE, THE SUCCESSOR AGENCY OF THE REDEVELOPMENT

AGENCY OF THE CITY OF LAKE ELSINORE, DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:

SECTION 1.The Recitals set forth above are true and correct and incorporated herein by reference.

SECTION 2.The Successor Agency hereby approves the Schedule attached hereto as Exhibit A as the Recognized Obligation Payment Schedule 25-26 for the period July 1, 2025 through June 30, 2026. Pursuant to Health & Safety Code Section 34173, the Successor Agency’s liability, including, but not limited to, its liability for the obligations on the attached schedule, is limited to the total sum of property tax revenues it receives pursuant to Part 1.85 of AB X1 26.

SECTION 3.The Successor Agency hereby approves the Schedule attached hereto as Exhibit B as the Successor Agency Administrative Budget FY 2025-26.

SECTION 4.The Successor Agency has examined all of the items on the ROPS FY 2025-26 and finds that each of them is necessary for the continued maintenance and preservation of property owned by the Successor Agency until disposition in accordance with Reso. No. SA-2025____

the Dissolution Act, the continued administration of the ongoing enforceable obligations, or the expeditious wind-down of the affairs of the former Redevelopment Agency of the City of Lake Elsinore.

SECTION 5.Executive Director Simpson, or his designee, is hereby authorized to make necessary minor corrections or adjustments and to submit the ROPS to the Riverside Countywide Oversight Board and to such parties as may be required in accordance with the Health & Safety Code, and to take such other actions on behalf of the Successor Agency with respect to the ROPS as may be necessary in accordance with applicable law.

SECTION 6.If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution which can be given effect without the invalid provision or application, and to this end the provisions of this Resolution are severable. The Successor Agency hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof.

SECTION 7.This Resolution shall take effect from and after the date of its passage and adoption in accordance with, and subject to, all applicable requirements of the Health & Safety Code.

PASSED, APPROVED AND ADOPTED at a regular meeting of the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore, held this 14th day of January 2025.

Brian Tisdale
Chair
Attest:

Candice Alvarez, MMC
Agency Secretary
Reso. No. SA-2025____

STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

CITY OF LAKE ELSINORE )
I, Candice Alvarez, Secretary to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore, California, hereby certify that Resolution No. SA-2025- was adopted by the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore at a Regular meeting held on the 14th day of January 2025 by the following vote:

AYES:

NOES:

ABSTAIN:

ABSENT:

Candice Alvarez, MMC
Agency Secretary

EXHIBIT A
ROPS 25-26

EXHIBIT B
ADMINISTRATIVE BUDGET FY 25-26
Recognized Obligation Payment Schedule (ROPS 25-26) - Summary Filed for the July 1, 2025 through June 30, 2026 Period Successor Agency: Lake Elsinore
County: Riverside
Current Period Requested Funding for Enforceable
Obligations (ROPS Detail)
25-26A Total
(July -
December)
25-26B Total
(January -
June)
ROPS 25-26
Total
A Enforceable Obligations Funded as Follows (B+C+D) $ 1,517,500 $ - $ 1,517,500 B Bond Proceeds - - -
C Reserve Balance 1,517,500 - 1,517,500
D Other Funds - - -
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) $ 5,982,967 $ 7,912,632 $ 13,895,599 F RPTTF 5,708,302 7,637,968 13,346,270
G Administrative RPTTF 274,665 274,664 549,329
H Current Period Enforceable Obligations (A+E) $ 7,500,467 $ 7,912,632 $ 15,413,099 Certification of Oversight Board Chairman:

Name Title
Pursuant to Section 34177 (o) of the Health and Safety
code, I hereby certify that the above is a true and
accurate Recognized Obligation Payment Schedule for
the above named successor agency. /s/
Signature Date
Lake Elsinore
Recognized Obligation Payment Schedule (ROPS 25-26) - ROPS Detail July 1, 2025 through June 30, 2026

A B C D E F G H I J K L M N O P Q R S T U V W
Item
# Project Name Obligation Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired ROPS
25-26 Total
ROPS 25-26A (Jul - Dec)
25-26A
Total
ROPS 25-26B (Jan - Jun)
25-26B
Total
Fund Sources Fund Sources
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
$155,972,531 $15,413,099 $- $1,517,500 $- $5,708,302 $274,665 $7,500,467 $- $- $- $7,637,968 $274,664 $7,912,632 12 Summerly DDA OPA/DDA/
Construction
03/11/2011 09/08/2038 McMillin
Summerly
LLC and
Civic
Partners-
Elsinore LLC
DDA pledges a
portion of
property tax
revenues
through 2038.

Total
outstanding
debt or
obligation is
estimated
based on
projections of
tax revenue
growth at 2%
per annum. If
property values
and
corresponding
revenues grow
at a higher or
lower rate than
2% per annum,
the total
obligation will
similarly
increase or
decreased.

DDA pledges a
portion of tax
increment for
so long as the
Agency
receives tax
increment
Project
II and
III
47,996,173 N $2,312,473 - - - 106,742 - $106,742 - - - 2,205,731 - $2,205,731 13 Summerly DDA
Extraordinary
Infrastructure
Fund

OPA/DDA/
Construction
03/11/2011 09/08/2038 Mc Millin
Summerly
LLC
DDA pledges a
portion of
property tax
revenues
through 2038.

Total
outstanding
debt or
obligation is
estimated
based on
projections of
tax revenue
Project
II and
III
10,390,035 N $476,265 - - - 99,146 - $99,146 - - - 377,119 - $377,119

A B C D E F G H I J K L M N O P Q R S T U V W
Item
# Project Name Obligation Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired ROPS
25-26 Total
ROPS 25-26A (Jul - Dec)
25-26A
Total
ROPS 25-26B (Jan - Jun)
25-26B
Total
Fund Sources Fund Sources
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
growth at 2%
per annum. If
property values
and
corresponding
revenues grow
at a higher or
lower rate than
2% per annum,
the total
obligation will
similarly
increase or
decreased.

DDA pledges a
portion of tax
increment for
so long as the
Agency
receives tax
increment.
18 City
Reimbursement
LERA
Bond
Reimbursement
Agreements
07/01/
2000
02/01/2032 City of Lake
Elsinore
City
Reimbursement
LERA - Debt
Service
All 8,861,850 N $1,127,213 - - - 563,606 - $563,606 - - - 563,607 - $563,607 20 Housing Fund
Loan
Third-Party
Loans
12/01/
1995
09/08/2038 Housing
Fund
Payments on
principal and
interest on loan
of bond
proceeds from
the housing
fund. Payments
made in any
given fiscal
year are
calculated and
disbursed
based on
available
property tax
revenue funds
after
deductions for
payment of all
other debts and
obligations of
the Agency.

All - Y $- - - - - - $- - - - - - $-
22 Legal Services Fees 07/01/
2024
09/01/2039 Leibold
McClendon
& Mann
Legal services
for projects,
bonds & DDA/
Stadium
Agreement
compliance.

All 80,000 N $80,000 - - - 40,000 - $40,000 - - - 40,000 - $40,000

A B C D E F G H I J K L M N O P Q R S T U V W
Item
# Project Name Obligation Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired ROPS
25-26 Total
ROPS 25-26A (Jul - Dec)
25-26A
Total
ROPS 25-26B (Jan - Jun)
25-26B
Total
Fund Sources Fund Sources
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
23 Consultant
Fees
Fees 10/23/
2007
09/08/2025 HdL Coren
& Cone
Tax Projections
for bond & DDA
compliance
All 24,176 N $24,176 - - - 12,088 - $12,088 - - - 12,088 - $12,088 28 Estimated
Admin Cost
Admin Costs 02/01/
2012
09/08/2038 City of Lake
Elsinore
City Staff
Support/other
admin
reimbursement
All 549,329 N $549,329 - - - - 274,665 $274,665 - - - - 274,664 $274,664 29 Stadium
License
Agreement
Miscellaneous 03/15/
2001
12/31/2026 Lake
Elsinore
Storm, LP
License to use
stadium for
baseball games
Project
III
- N $- - - - - - $- - - - - - $-
30 Stadium
Maintenance
Agreement
Property
Maintenance
03/15/
2001
12/31/2026 Lake
Elsinore
Storm, LP
Agreement to
maintain
baseball field
and facilities.

Project
III
- N $- - - - - - $- - - - - - $-
31 Stadium
Concession
Agreement
Miscellaneous 01/30/
2002
12/31/2026 Golden
State
Concessions
and
Catering
Provision of
concessions for
baseball games
Project
III
- N $- - - - - - $- - - - - - $-
32 Stadium
Operation and
Maintenance
Property
Maintenance
01/01/
2013
09/03/2043 Various Operation and
maintenance of
the baseball
stadium
Project
III
34,000,000 N $- - - - - - $- - - - - - $-
33 Interim Stadium
Management
Agmt.

Miscellaneous 01/01/
2013
09/30/2026 Lake
Elsinore
Storm, LP
Stadium
Maintenance
and
Management
Project
III
4,126,750 N $4,126,750 - - - 2,114,492 - $2,114,492 - - - 2,012,258 - $2,012,258 35 Administrative
Reimbursement
RPTTF
Shortfall
02/01/
2012
09/08/2038 City of Lake
Elsinore
Repayment for
City Staff
Support/other
All - Y $- - - - - - $- - - - - - $-
39 Bond
Disclosure
Services
Fees 07/01/
2023
06/30/2026 Urban
Futures
Bond
disclosure
compliance
All 212,260 N $18,300 - - - - - $- - - - 18,300 - $18,300 40 Property
Maintenance
Property
Maintenance
09/13/
2009
06/30/2019 Various Maintenance
cost on Agency
property
Project
III
- Y $- - - - - - $- - - - - - $-
41 Subordinated
Tax Allocation
Refunding
Bonds, Series
2015
Bonds Issued
After 12/31/10
08/25/
2015
09/01/2038 Wilmington
Trust
Bond issue to
refund Tax
Allocation
Revenue
Bonds, 2011
Series A and
Local Agency
Revenue
Bonds, 2011
Series A
All 3,687,809 N $477,156 - 125,000 - 176,078 - $301,078 - - - 176,078 - $176,078 42 Fiscal Agent
Fees
Fees 08/01/
2015
09/01/2038 Wilmington
Trust
Annual fiscal
agent fees for
bonds issues
All 131,000 N $13,000 - - - 6,500 - $6,500 - - - 6,500 - $6,500

A B C D E F G H I J K L M N O P Q R S T U V W
Item
# Project Name Obligation Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired ROPS
25-26 Total
ROPS 25-26A (Jul - Dec)
25-26A
Total
ROPS 25-26B (Jan - Jun)
25-26B
Total
Fund Sources Fund Sources
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
44 Reconveyance
Cost
Property
Dispositions
05/01/
2015
06/30/2025 Various Appraisals,
Title Insurance,
Escrow and
Closing Cost
All - Y $- - - - - - $- - - - - - $-
45 Arbitrage Fees Fees 07/01/
2024
06/30/2026 Various Arbitrage fees
for bonds
All 36,600 N $6,600 - - - 3,600 - $3,600 - - - 3,000 - $3,000 46 Third Lien Tax
Allocation
Bonds, Series
2018A
Bonds Issued
After 12/31/10
03/05/
2018
03/01/2038 Wilmington
Trust
Bond issue to
refund
Developer
Obligation
II and
III
2,210,063 N $155,544 - - - 77,772 - $77,772 - - - 77,772 - $77,772 47 Third Lien Tax
Allocation
Bonds, Series
2018B
(Federally
Taxable)
Bonds Issued
After 12/31/10
03/05/
2018
03/01/2038 Wilmington
Trust
Bond issue to
refund
Developer
Obligation
II and
III
7,201,494 N $592,882 - - - 296,441 - $296,441 - - - 296,441 - $296,441 48 Subordinated
Tax Allocation
Refunding
Bonds, Series
2019A
Bonds Issued
After 12/31/10
03/05/
2018
03/01/2038 Wilmington
Trust
Bond issue to
refund
Developer
Obligation
II and
III
11,063,375 N $887,750 - 165,000 - 363,000 - $528,000 - - - 359,750 - $359,750 49 Interim Stadium
Management
Agmt.

RPTTF
Shortfall
01/01/
2013
06/30/2038 Lake
Elsinore
Storm, LP
Stadium
Maintenance
and
Management
Project
III
- Y $- - - - - - $- - - - - - $-
50 Tax Allocation
Refunding
Bonds, Series
2019B
(Housing-Set-
Aside)
Bonds Issued
After 12/31/10
10/04/
2019
09/01/2025 Wilmington
Trust,
National
Association
Bond issue to
refund Tax
Allocation
Revenue
Bonds, 2010
Series B
ALL 1,427,959 N $712,014 - 352,500 - 359,514 - $712,014 - - - - - $- 52 Tax Allocation
Refunding
Bonds, Series
2020A
Bonds Issued
After 12/31/10
04/01/
2020
09/01/2030 Wilmington
Trust,
National
Association
Bond issue to
refund the Tax
Allocation
Revenue
Bonds, 2010
Series C
Project
I and
Project
II
14,810,100 N $3,089,200 - 875,000 - 1,107,100 - $1,982,100 - - - 1,107,100 - $1,107,100 54 Third Lien Tax
Allocation
Bonds, Series
2020B
Bonds Issued
After 12/31/10
12/23/
2020
03/01/2038 Wilmington
Trust,
National
Association
Bond issue to
refund
Developer
Obligation
Project
II and
Project
III
6,093,200 N $305,000 - - - 152,500 - $152,500 - - - 152,500 - $152,500 55 Third Lien Tax
Allocation
Bonds, Series
2020C
(Federally
Taxable)
Bonds Issued
After 12/31/10
12/23/
2020
03/01/2038 Wilmington
Trust,
National
Association
Bonds issue to
refund
Developer
Obligation
Project
II and
Project
III
3,070,358 N $459,447 - - - 229,723 - $229,723 - - - 229,724 - $229,724 Lake Elsinore
Recognized Obligation Payment Schedule (ROPS 25-26) - Report of Cash Balances July 1, 2022 through June 30, 2023
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177 (l), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation.

A B C D E F G H
ROPS 22-23 Cash Balances
(07/01/22 - 06/30/23)
Fund Sources
Comments
Bond Proceeds Reserve Balance Other Funds RPTTF
Bonds issued
on or before
12/31/10
Bonds issued
on or after
01/01/11
Prior ROPS
RPTTF and
Reserve
Balances retained
for future
period(s)
Rent, grants,
interest, etc.

Non-Admin
and Admin

1 Beginning Available Cash Balance (Actual 07/01/22)
RPTTF amount should exclude "A" period distribution
amount.
- 585,000 239,337 3,290,686 Col G Line 1 - Amount shown reflects ROPS 19-20 Prior Period Adjustment (PPA)
($1,309,622), ROPS 20-21 PPA ($1,986,721)
and ROPS 21-22 PPA ($50,760),
expenditures of $50,760 due from the City for
administrative expense in excess of approved
ROPS
2 Revenue/Income (Actual 06/30/23)
RPTTF amount should tie to the ROPS 22-23 total
distribution from the County Auditor-Controller
- - 17,126,701
3 Expenditures for ROPS 22-23 Enforceable Obligations
(Actual 06/30/23)
- 585,000 33,431 18,483,116
4 Retention of Available Cash Balance (Actual 06/30/23) RPTTF amount retained should only include the amounts
distributed as reserve for future period(s)
- - 120,000 602,500
5 ROPS 22-23 RPTTF Prior Period Adjustment
RPTTF amount should tie to the Agency's ROPS 22-23 PPA
form submitted to the CAC
No entry required 41,531
Pursuant to Health and Safety Code section 34177 (l), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation.

A B C D E F G H
ROPS 22-23 Cash Balances
(07/01/22 - 06/30/23)
Fund Sources
Comments
Bond Proceeds Reserve Balance Other Funds RPTTF
Bonds issued
on or before
12/31/10
Bonds issued
on or after
01/01/11
Prior ROPS
RPTTF and
Reserve
Balances retained
for future
period(s)
Rent, grants,
interest, etc.

Non-Admin
and Admin

6 Ending Actual Available Cash Balance (06/30/23)
C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5)
$- $- $- $85,906 $1,290,240 Col G Line 6 - Amount shown reflects ROPS 20-21 Prior Period Adjustment
(PPA) ($1,986,721) and ROPS 21-22 PPA
($50,760), expenditures of $56,417 due
from the City for administrative expense in
excess of approved ROPS
Lake Elsinore
Recognized Obligation Payment Schedule (ROPS 25-26) - Notes July 1, 2025 through June 30, 2026
Item # Notes/Comments
12 13
18 20
22 23
28 29 The Stadium License Agreement (Line 29), the Stadium Maintenance Agreement (Line 30) and the Stadium Concession Agreement (Line 32) (collectively “Stadium Operations Contract”) set forth the rights and obligations of the former Redevelopment Agency on the one hand and the Storm and its affiliates on the other hand with respect to the use, operation, maintenance, and management of the Diamond Stadium. Upon dissolution of the former Redevelopment Agency, the Successor Agency and the Storm entered into the Interim Stadium Management Agreement and subsequent amendments thereto (Line 33) which incorporate the Stadium Operations Agreements by reference. Under the Interim Stadium Management Agreement (Line 33) the License Fee for the period covered by ROPS 25-26 is waived as part of the compensation to the Storm for its performance of the operation, maintenance and management of the Diamond Stadium.
30 The Stadium License Agreement (Line 29), the Stadium Maintenance Agreement (Line 30) and the Stadium Concession Agreement (Line 32) (collectively “Stadium Operations Contract”) set forth the rights and obligations of the former Redevelopment Agency on the one hand and the Storm and its affiliates on the other hand with respect to the use, operation, maintenance, and management of the Diamond Stadium. Upon dissolution of the former Redevelopment Agency, the Successor Agency and the Storm entered into the Interim Stadium Management Agreement and subsequent amendments thereto (Line 33) which incorporate the Stadium Operations Agreements by reference. Under the Interim Stadium Management Agreement (Line 33) the Maintenance Fee for the period covered by ROPS 25-26 is included as part of the compensation to the Storm for its performance of the operation, maintenance and management of the Diamond Stadium.
31 The Stadium License Agreement (Line 29), the Stadium Maintenance Agreement (Line 30) and the Stadium Concession Agreement (Line 32) (collectively “Stadium Operations Contract”) set forth the rights and obligations of the former Redevelopment Agency on the one hand and the Storm and its affiliates on the other hand with respect to the use, operation, maintenance, and management of the Diamond Stadium. Upon dissolution of the former Redevelopment Agency, the Successor Agency and the Storm entered into the Interim Stadium Management Agreement and subsequent amendments thereto (Line 33) which incorporate the Stadium Operations Agreements by reference. Under the Interim Stadium Management Agreement (Line 33) the Concession Fee covered by ROPS 25-26 is credited and assigned to the Storm as part of the compensation to the Storm for its performance of the operation, maintenance and management of the Diamond Stadium. 32 The Diamond Stadium site was donated to the Former Redevelopment Agency in 1993 subject to a 50-year covenant obligating the Agency to own and operate the Diamond Stadium as a minor league baseball stadium. The operation, maintenance and management obligations for the period covered by ROPS 25-26 are incorporated into the Interim Stadium Management Agreement (Line 33). Upon expiration of the Interim Stadium Management Agreement, the operation, management and Lake Elsinore
Recognized Obligation Payment Schedule (ROPS 25-26) - Notes July 1, 2025 through June 30, 2026
Item # Notes/Comments
maintenance obligations must be performed by the Successor Agency through 2043. 33 The Interim Stadium Management Agreement incorporates all of the obligations under the Stadium Operations Contract (Lines 29-31) and the operation and maintenance obligations under Line 32. The obligations under the Interim Stadium Management Agreement include compensation to the Storm for the performance of the management, maintenance and operation services of the Diamond Stadium and necessary Capital Repairs.
35 39
40 41
42 44
45 46
47 48
49 50
52 54
55 DESCRIPTION AMOUNT
City Staff Support Costs 405,129.00$
Operating Costs:

Professional/ Outside Services 87,550.00
Auditors 41,200.00
Other 15,450.00
Total Operating Costs 144,200.00$
Total Administrative Budget 549,329.00$

SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE ADMINISTRATIVE BUDGET - FY2025-26

REPORT TO CITY COUNCIL
To:Honorable Mayor and Members of the City Council
From:Jason Simpson, City Manager
Prepared by:Shannon Buckley, Assistant City Manager
Date:January 14, 2025
Subject:Annual AB 1600 Development Impact Fee Compliance Report for Fiscal Year 2023-24
Recommendation
Receive and file the AB1600 Annual Report and adopt the findings therein.

Background
This Public Hearing was continued from December 10, 2024.

The City of Lake Elsinore collects development impact fees for Traffic Infrastructure, City Hall and Public Works Facilities, Community Center Facilities, Lakeside Facilities, Animal Shelter Facilities, Fire Facilities, Library Facilities, and Drainage Facilities.

The Mitigation Fee Act (AB 1600; Government Code Section 66000 et seq.) sets forth the requirements the City must follow in connection with such development impact fees, which are imposed to defray the construction cost of public facilities related to development projects. Also, AB 1600 imposes specific accounting and comprehensive annual reporting requirements for the fees collected.

For accounting purposes, the development impact fees must be segregated from the City's general funds and other funds or accounts containing fees collected for other improvements.

Interest on each development fee fund or account must be credited to that special revenue fund or account and used for the purposes for which the fees were collected.

Government Code Section 66006 contains comprehensive annual reporting requirements for development impact fees. This statute requires the City to make the following information available to the public annually for each development impact fee:

AB1600 Report FY 23-24

•A brief description of the type of fee in the account. •The amount of the fee.
•The beginning and ending balance of the account for the fiscal year. •The dollar amount of fees collected.
•The interest earned.
•Identification of each public improvement on which fees from the account were expended, the dollar amount of expenditures on each improvement, and an identification of the percentage of the cost of the improvement being funded with impact fees. •Identify an approximate date by which construction of the public improvement will commence if the local agency determines that sufficient funds have been collected to complete financing on an incomplete public improvement and the public improvement remains incomplete. •Description of each inter-fund transfer or loan made from the account, including the public improvement for which the transferred or loaned fees will be expended. •The amount of any refunds made according to the statute. •Findings, under Government Code section 66001(d), for portions of the fee account that are unexpended in the fifth fiscal year following the initial deposit in the account and every five years thereafter.

Staff has compiled the attached AB 1600 Fiscal Year 2023-24 report per the Fee Mitigation Act.

The report provides an annual accounting of the activity in each development impact fee special revenue fund for the fiscal year ending June 30, 2024, and a five-year history. The report also provides a plan for future use of the unexpended special revenue fund balances. The report is available on the City's website, and copies were sent to the Building Industry Association ('BIA") along with SCE and the Gas Co. for review as they requested.

In addition to the development impact fees reported in the attached AB 1600 Report, the City imposes the Western Riverside County Transportation Uniform Mitigation Fee (TUMF) and the local development fee for the Multiple Species Habitat Conservation Plan (MSHCP). These fees are a "pass-through" to WRCOG and RCA through the City's participation in these specific regional programs. Evaluation and accounting of these regionally based fees are outside the scope of the City's AB 1600 Report.

In order to provide additional time for public review and comment, staff recommends that the public hearing be continued to January 14, 2024. At that time, staff will present the report, additional public comment will be welcome, and the City Council will receive and file the report and adopt findings upon close of the public hearing. The AB 1600 Report will remain posted on the city’s website.

Discussion
On June 27, 1989, the City Council adopted Ordinance Number 860, establishing its first AB 1600 development fee for Library Facilities. Subsequently, the City Council adopted and updated various other development impact fees applicable to new development within the City.

Development impact fees finance the design, construction, and acquisition of facilities and equipment necessary to accommodate future development within the City. Through the General AB1600 Report FY 23-24

Plan and fee studies, the City of Lake Elsinore has established the nexus between development, the capital improvements necessary to mitigate the effects of development, and approved fees to fund the mitigation measures.

Collected development impact fees are segregated and placed in special revenue funds, which earn interest. Those funds are held for the facilities for which the fees are collected, per Government Code Section 66006. As of June 30, 2024, the City collected eight separate and distinct fees under AB 1600. Following is a summary listing of the fees, along with the balance for each fee account on June 30, 2024:

The AB1600 Report includes a detailed expenditure and revenue report for each development impact fee special revenue fund. The nature of the development impact fee special revenue funds is such that the timing of receipt of revenues and construction of the related capital projects rarely coincide. As a practical matter, revenues are collected over time and accumulated until a development-related project is needed; in years of construction, accumulated reserves will be used up. No inter-fund transfers or loans have been made from capital accounts, and no refunds have been made.

Using the expenditure and revenue reports to determine whether the fees have been spent within five years of collection, the total expenditures and transfers-out over the five years must be added together. Then, that total must be subtracted from the earliest fund balance. In several instances, this calculation shows that not only have fees collected five years ago been spent, but depending on the fund, fees collected in the ensuing years have also been spent.

Although AB1600 requires fees collected from developers to be expended or committed within five years, the law allows exceptions in recognition that some project costs can be of a magnitude that takes more than five years to accrue adequate funds, or matching funds may not be available within the five years. AB 1600 requires the City to make certain findings regarding any unexpended development impact fee funds, whether committed or uncommitted, remaining after the fifth fiscal year following the first deposit and every five years after that.

The AB1600 excludes fees collected under development agreements adopted according to (Section 65864) from the definition of "fees," so it has been generally accepted that only fees collected as a condition of development for the cost of public facilities are subject to the AB1600 requirements.

However, the development agreement statutes require "for any development agreement entered into on or after January 1, 2004, a city, county, or city and county shall comply with Section 66006 for any fee it receives or cost it recovers." This provision falls under the following eight development agreements (see Attachment 2).
•Village at Lakeshore (aka Westlake) – Pay $500/unit Development Agreement Fee and $2.00/square foot Affordable Housing In-Lieu Fee and fees covered in the AB1600 report. •Laing (aka Summerly) – Paid $4,500/unit for the Development Agreement Fee, which was credited against the cost of the golf course and other improvements, and $1.30/sf Summerly Traffic Impact Fee in addition to fees covered in the AB1600 report. Project is complete.

AB1600 Report FY 23-24

•Alberhill Villages – Paid Initial Development Agreement Fee $100,000; Pay Development Agreement Fee (subject to annual adjustment and subject to limited exemptions) $4,500/Single Family unit, $3,200/Multi-Family unit; $2,500/Mixed Use unit; $1.00/sf Commercial/Retail/lndustrial Building and Private lnstitutional/Places of Worship (non- sanctuary); Pay $2.00/sf Alberhill Park Fee in addition to fees covered in the AB1600 report. •Tri Pointe Homes (Canyon Hills Estates) – Pay $5,500/dwelling unit Development Agreement Fee and fees covered in the AB1600 Report.
•SPT and Richland (Ramsgate) - Pay $5,500/dwelling unit Development Agreement Fee and fees covered in the AB1600 Report.
•Mohr Affinity - Paid Initial Development Agreement Fee $50,000; Pay $2.50/sf Commercial Development Agreement Fee
•Canadian Pacific Land, LLC, and Strack Farms Land, LLC, - Pay $5,500/dwelling unit Development Agreement Fee, $2.00 per square foot affordable housing fee, and fees covered in the AB1600 Report.
•T.T. Group, Inc., - Pay $5,500/dwelling unit Development Agreement Fee, $2.00 per square foot affordable housing fee, and fees covered in the AB1600 Report.

All development impact fee categories satisfy the provision of AB1600, which requires funds to be expended within five years. Moreover, the City's Five-year (2024/25-2028/29) Capital Improvement Program (CIP), adopted on June 25, 2024, provides detail regarding the sources, amounts, and approximate dates of funding anticipated over a five-year period that will be used to complete the financing of future capital projects such that all fund equity balances have been programmed to fund projects.

Fiscal Impact
Tracking the fund activities, summarizing the activity for the AB 1600 Report, and preparing the report require accounting and administrative resources. No funds were expended on outside sources to comply with this unfunded State mandate. This is a required reporting and compliance report per the California Government Code 66006.

Attachments
Attachment 1 - AB1600 Annual Report
Attachment 2 - Development Agreement Annual Report
Attachment 3 - Development Impact & Mitigation Fee Schedule Administrative Services

DEVELOPMENT AGREEMENTS - POST JANUARY 1, 2004

CITY OF LAKE ELSINORE, CALIFORNIA
DEVELOPMENT AGREEMENT - POST JANUARY 1, 2004 FEES SUBJECT TO SECTION 66006

DEVELOPMENT AGREEMENT PROJECT STATUS
TOTAL
UNITS

UNITS TO

DATE DAG FEE

AFFORDABLE

HOUSING IN-LIEU
FEE

ALBERHILL

PARK FEE

SUMMERLY

TRAFFIC IMPACT
FEE ("STIF") EXISTING DIF FEES PER ORDINANCE
VILLAGES AT LAKESHORE ("WESTLAKE")
(RESIDENTIAL)

PROJECT COMPLETE
$500 DAG Fee per unit YES, COVERED IN THE AB1600 REPORT. 2020-2021 169 169 84,500$ 545,602$ Affordable Housing Fee ($2 per sq ft)
169 169 84,500$ -$ N/A N/A LAING-CP ("SUMMERLY") (RESIDENTIAL) PROJECT COMPLETE
Description: $4,500 DAG fee per unit for
extraordinary infrastructure
2010-2011 7 31,500$
2011-2012 77 346,500
2012-2013 181 814,500
2013-2014 115 517,500
2014-2015 138 621,000
2015-2016 183 823,500
2016-2017 227 1,021,500
2017-2018 209 940,500
2018-2019 264 1,188,000
2019-2020 26 117,000
2020-2021 115 517,500
2021-2022 126 567,000
SUBTOTAL 1,668 1,668 7,506,000$
STIF - Summerly Traffic Impact Fee ($1.30 per sq ft)
2017-2018 1,582,388.91$
2018-2019 437,323.20
2019-2020 662,677.06
2020-2021 559,799.20
2021-2022 (109,564.63)
Interest Earnings Accumulated 193,414.59
SUBTOTAL 3,326,038.33$
1,668 1,668 7,506,000$ N/A N/A 3,326,038.33$

CANYON HILLS ESTATES (RESIDENTIAL) PROJECT NOT STARTED
$5,500 DAG FEE 132 - 0 YES, COVERED IN THE AB1600 REPORT.

ALBERHILL VILLAGES (RESIDENTIAL) PROJECT NOT STARTED
Alberhill Park Fee - SINGLE FAMILY (SFR) 2,724 - 100,000$ -$ -$ -$ YES, COVERED IN THE AB1600 REPORT.

Alberhill Park Fee - MULTI-FAMILY (MFR) 3,420 - - Alberhill Park Fee - MIXED USE DWELLING 1,880 - - 8,024 - 100,000$ -$ -$ -$ Alberhill Villages – Paid Initial Development Agreement Fee $100,000; Pay Development Agreement Fee (subject to annual adjustment and subject to limited exemptions) $4,500/Single Family unit, $3,200/Multi-Family unit; $2,500/Mixed Use unit; $1.00/sf Commercia/Retail/lndustrial Building and Private lnstitutional/Places of Worship (non-sanctuary); Pay $2.00/sf Alberhill Park Fee in addition to fees covered in the AB1600 report.

DEVELOPMENT AGREEMENTS - POST JANUARY 1, 2004

MOHR AFFINITY (OUTLET MALL PADS - FUTURE) PROJECT NOT STARTED -$ -$ 50,000$ -$ -$ -$ YES, COVERED IN THE AB1600 REPORT. -$ -$ 50,000$ -$ -$ -$

SPT AND RICHLAND (RAMSGATE) PROJECT NOT STARTED
Description: Pays $5,500/dwelling unit for
Development Impact Fees. As such, these are
covered in the AB1600 Annual Report.
-$ -$ -$ -$ -$ -$ YES, COVERED IN THE AB1600 REPORT. -$ -$ -$ -$ -$ -$

CANADIAN PACIFIC LAND LLC AND STRACK FARMS

LAND LLC

PROJECT NOT STARTED
Description: Pays $5,500/dwelling unit for
Development Impact Fees, $2.00 per sq ft
affordable housing fee. As such, these are
covered in the AB1600 Annual Report.
-$ -$ -$ -$ -$ -$ YES, COVERED IN THE AB1600 REPORT. -$ -$ -$ -$ -$ -$ T.T. GROUP INC PROJECT NOT STARTED
Description: Pays $5,500/dwelling unit for
Development Impact Fees, $2.00 per sq ft
affordable housing fee. As such, these are
covered in the AB1600 Annual Report.
-$ -$ -$ -$ -$ -$ YES, COVERED IN THE AB1600 REPORT. -$ -$ -$ -$ -$ -$ Paid Initial Development Agreement Fee $50,000; Pay $2.50/sf Commercial Development Agreement Fee
Updated July 1, 2024

Updated July 1, 2024

CITY OF LAKE ELSINORE

DEVELOPMENT IMPACT & MITIGATION FEES

1. Capital Improvement Fund:

a. Park Capital Improvement Fund Fees:

Subdivisions under 50 parcels, apartments, Condominiums, fourplexes, triplexes, duplexes, Single-family residences:

1. Single-Family Residences $1,600 per unit

2. Duplexes $1,500 per unit

3. Triplexes $1,500 per unit

4. Fourplexes $1,450 per unit

5. Apartments $1,400 per unit

Subdivisions over 50 parcels:

Dedicate land or pay an in-lieu fee equal to the fair market value of the land that would have otherwise been dedicated. The formula for determining the amount of land to be dedicated is as follows:

Average number of persons per unit x number of units proposed divided by park acreage standard. (Established ratio of five park acres to one thousand population.)

Commercial and industrial developments:

All commercial and industrial developments shall pay the following fees to The City of Lake Elsinore for the purpose of establishing, improving and maintaining park land within the City:

Commercial $.10 per sq. ft. *
Industrial $.10 per sq. ft.

*All fees are based on square footage of enclosed space as determined by the City of Lake Elsinore's Building and Safety Division.

PARKLAND DEDICATION FORMULA TABLE

Types of dwellings Density/ DU
Single-family 3.6
Duplex, Medium-Low 3.1
Apartments/Condos 1.8

b. Storm Drain Capital Improvement Fund Fee based on location as shown on the City of Lake Elsinore's Drainage Facilities Plan Map.

Updated July 1, 2024

Updated July 1, 2024
c. Traffic Impact Fee:

Single Family Residential $1,369.00 per unit
Multi Family Residential $959.00 per unit
Commercial Building $3.84 per sq. ft. of building
Office Building $1.45 per sq. ft. of building
Industrial Building $0.81 per sq. ft. of building

Commercial/Industrial

Industrial Use $1.86 per square foot
Retail Commercial Use $7.72 per square foot
Service Commercial Use $4.89 per square foot
Class A and B Office $2.45 per square foot

d. Library Capital Improvement Fund Fee:

All residential properties - $150.00 per dwelling unit

f. Development Impact Fee:

Per Dwelling Unit
SFDU MF 2-4 MF 5+
City Hall & Public Works Facilities $809 $696 $404
Community Center Facilities $545 $469 $272
Lakeside Facilities $779 $671 $389
Animal Shelter Facility $348 $299 $174
Total Public Building Impact fee $2,481 $2,135 $1,239

Per 1000 Square Feet
Office Retail Industrial
City Hall & Public Works Facilities $180 $108 $36

g. Fire Facility:

Per Dwelling Unit Per 1000 Square Feet
SFDU MF Office Retail Industrial
$751 $612 $337 $489 $159

h. Affordable Housing in-lieu Fee
All residential properties - $2.00 per square foot of “assessable space”. “Assessable space” is defined as follows:

Updated July 1, 2024

Updated July 1, 2024
All the square footage within the perimeter of a residential structure, not including any carport, walkway, garage, overhang, patio, enclosed patio, detached accessory structure, or similar area.

The amount of the square footage within the perimeter of a residential structure shall be calculated by the building department of the City of Lake Elsinore in accordance with the standard practice of the City of Lake Elsinore in calculating structural perimeters.

MULTIPLE SPECIES HABITAT CONSERVATION PLAN

Permits and Fees | Western Riverside County Regional Conservation Authority (wrc-rca.org)