Agenda packet, regular meeting — Moreno Valley City Council, September 19, 2023 (part 3 of 3)

CW LOE 2019‐2020
Assignment Conditions: We do not anticipate the use of any extraordinary assumptions or hypothetical conditions.

II. ANTICIPATED SCOPE OF WORK
USPAP Compliance: C&W will develop an appraisal in accordance with USPAP and the Code of Ethics and Certification Standards of the Appraisal Institute.

General Scope of Work:  Property Inspection to the extent necessary to adequately identify the real estate
 Research relevant market data, in terms of quantity, quality, and geographic comparability, to the extent necessary to produce credible appraisal results
 Consider and develop those approaches relevant and
applicable to the appraisal problem. Based on our
discussions with the Client, we anticipate developing the following valuation approaches:
o Highest & Best Use Analysis
o Sales Comparison Analysis (Land Valuation via sales
of land comparables by-right of similar zoning).

III. REPORTING AND DISCLOSURE
Scope of Work Disclos
ure: The actual Scope of Work will be reported within the report.

Reporting Option: The appraisal will be communicated in an Appraisal Report.

IV. FEE, EXPENSES AND OT

HER TERMS OF ENGAGEMENT
Fee: $xxx. All invoices are due upon receipt. The Client shall be solely responsible for C&W’s fees and expenses hereunder.

Acknowledgement of this obligation is made by the
countersignature to this agreement by an authorized
representative of the Client.

Additional Expenses: Fee quoted is inclusive of expen ses related to the preparation of the report.

Retainer: A retainer of 50% is required for this assignment in order to commence work.

Report Copies: The final report will be delivered in electronic format. Up to three hard
copies will be provided upon request.

Start Date: The appraisal process will initiate upon receipt of signed agreement, applicable retainer, and the receipt of the property - specific data.

Acceptance Date: This proposal is subject to withdrawal if the engagement letter is not executed by the Client within four (4) business days.

Final Report Delivery: Within seven (7) days of receipt of your written authorization to proceed, assumin g prompt receipt of necessar y propert y F.1.f
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY)

CITY OWNED LAND ADDENDA CONTENTS

CUSHMAN & WAKEFIELD

Addendum D: Preliminary Title Report
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) Chicago Title Company
4911 Birch Street, , Newport Beach, CA 92660
Phone: (949) 724-3117 ● Fax: (949) 258-5237
CLTA Preliminary Report Form – Modified (11/17/06) Page 1 Issuing Policies of Chicago Title Insurance Company
ORDER NO.: 00120929-987-OC1-K27
City of Moreno Valley
14177 Frederick Street
Moreno Valley, CA 92553
ATTN: Melissa McClain
Email: [email protected]
REF:

Escrow/Customer Phone: (949) 724-3117
Title Officer: John Balassi/Jason Silva (OC/Comm)
Title Officer Phone: (949) 724-3117
Title Officer Fax: (949) 258-5237
Title Officer Email:

[email protected]
PROPERTY: VACANT LAND, MORENO VALLEY, CA

PRELIMINARY REPORT
In response to the application for a policy of title insurance referenced herein, Chicago Title Company hereby reports that it is prepared to issue, or cause to be issued, as of the date hereof, a policy or policies of title insurance describing the land and the estate or interest therein hereinafter set forth, insuring against loss which may be sustained by reason of any defect, lie n or encumbrance not shown or referred to as an exception herein or not excluded from coverage pursuant to the printed Schedules, Conditions and Stipulations or Conditions of said policy forms.

The printed Exceptions and Exclusions from the coverage and Lim itations on Covered Risks of said policy or policies are set forth in Attachment One. The policy to be issued may contai n an arbitration clause. When the Amount of Insurance is less than that set forth in the arbitration clause, all arbitrable matters shall be arbitrated at the option of either the Company o r the Insured as the exclusive remedy of the parties. Lim itations on Covered Risks applicable to the CLTA and ALTA Homeowner’s Policies of Title Insurance which establish a Deductible Amount and a Maximum Dollar Limit of Liability for certain coverages are also set forth in Attachment One. Copies of the policy forms should be read. They are available from the office which issued this report.

This report (and any supplements or amendments hereto) is issued solely for the purpose of facilitating the issuance of a policy of title insurance and no liability is assumed hereby. If it is desired that liability be assumed prior to the issuance of a policy of title insurance, a Binder or Commitment should be requested.

The policy(s) of title insurance to be issued hereunder will be policy(s) of Chicago Title Insurance Company, a Florida
corporation.

Please read the exceptions shown or referred to herein and the exceptions and exclusions set forth in Attachment One of this report carefully. The exceptions and exclusions are meant to provide you with notice of matters which are not covered under the terms of the title insurance policy and should be carefully considered.

It is important to note that this preliminary report is no t a written representation as to the condition of title and may not list all liens, defects and encumbrances affecting title to the land.

Chicago Title Company
By:

Authorized Signature
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) Chicago Title Company
4911 Birch Street, , Newport Beach, CA 92660
Phone: (949) 724-3117 ● Fax: (949) 258-5237
CLTA Preliminary Report Form – Modified (11/17/06) Page 2

PRELIMINARY REPORT
EFFECTIVE DATE: November 8, 2019 at 7:30 a.m.

ORDER NO.: 00120929-987-OC1-K27
The form of policy or policies of title insurance contemplated by this report is:

A PRELIMINARY REPORT ONLY

1. THE ESTATE OR INTEREST IN THE LAND HEREINAFTER DESCRIBED OR REFERRED TO COVERED BY THIS REPORT IS:

A FEE

2. TITLE TO SAID ESTATE OR INTEREST AT THE DATE HEREOF IS VESTED IN:

CITY OF MORENO VALLEY, CALIFORNIA

3. THE LAND REFERRED TO IN THIS REPORT IS DESCRIBED AS FOLLOWS:

See Exhibit A attached hereto and made a part hereof.

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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) PRELIMINARY REPORT Chicago Title Company
YOUR REFERENCE: ORDER NO.: 00120929-987-OC1-K27
CLTA Preliminary Report Form – Modified (11/17/06) Page 3 EXHIBIT “A”

LEGAL DESCRIPTION

THE LAND REFERRED TO HEREIN BELOW IS SITUATED IN THE CITY OF MORENO VALLEY, IN THE COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS:

PARCEL 1:

LOTS 1, 2, 7, AND 8 IN BLOCK 104 OF THE LANDS OF THE BEAR VALLEY AND ALESSANDRO

DEVELOPMENT COMPANY , IN THE CITY OF MORENO VALLEY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN BY MAP ON FILE IN BOOK 11, PAGE 10, OF MAPS, RECORDS OF SAN BERNARDINO COUNTY, CALIFORNIA.

EXCEPTING THEREFROM THAT PORTION CONVEYED TO THE COUNTY OF RIVERSIDE BY GRANT DEED RECORDED APRIL 20, 1976 AS INSTRUMENT NO. 52387, OF OFFICIAL RECORDS.

APN: 487-470-030-7
PARCEL 2:

LOTS 2, 7, AND 8 IN BLOCK 93 OF THE LANDS OF THE BEAR VALLEY AND ALESSANDRO DEVELOPMENT

COMPANY, IN THE CITY OF MORENO VALLEY, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, AS SHOWN BY MAP ON FILE IN BOOK 11, PAGE 10, OF MAPS , RECORDS OF SAN BERNARDINO COUNTY, CALIFORNIA.

EXCEPTING THEREFROM THAT PORTION AS GRANTED TO THE EASTERN MUNICIPAL WATER DISTRICT DESCRIBED IN DEED RECORDED MARCH 7, 2012, AS INSTRUMENT NO. 2012-0105312, OF OFFICIAL RECORDS.

APN: 487-470-031-8
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) PRELIMINARY REPORT Chicago Title Company
YOUR REFERENCE: ORDER NO.: 00120929-987-OC1-K27
CLTA Preliminary Report Form – Modified (11/17/06) Page 4

EXCEPTIONS

AT THE DATE HEREOF, ITEMS TO BE CONSIDERED AND EXCEPTIONS TO COVERAGE IN ADDITION TO THE PRINTED EXCEPTIONS AND EXCLUSIONS IN SAID POLICY FORM WOULD BE AS FOLLOWS:

A. There were no taxes levied for the fiscal year 2019-2020 as the property was vested in a public entity.

Affects: 487-470-030-7 and 487-470-031-8.

B. The lien of supplemental or escaped assessments of propert y taxes, if any, made pursuant to the provisions of Chapter 3.5 (commencing with Section 75) or Part 2, Chap ter 3, Articles 3 and 4, respectively, of the Revenue and Taxation Code of the State of California as a result of the tr ansfer of title to the vestee named in Schedule A or as a result of changes in ownership or new construction occurring prior to Date of Policy.

THE FOLLOWING MATTERS AFFECT PARCEL 1:

1. Easement(s) for the purpose(s) shown below and rights incidental thereto as reserved in a document; Reserved to: Bear Valley and Alessandro Development Company Purpose: A right of way over, under, through and upon said Land and every part thereof for all necessary pipelines, ditches and flumes; also the right to enter upon said Land to construct and repair pipelines, ditches, and flumes, together with the right to conduct water in and through the same.

Recording No.: Book 11, Page 10, of Maps,
San Bernardino County Records
The exact location and extent of said easement is not disclosed of record.

2. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Granted to: California Electric Power Company, a corporation Purpose: Polelines
Recording Date: August 9, 1943
Recording No: Book 1001, Page 568, of Official Records
Affects: said land more particularly described therein. and Recording Date: August 9, 1943
and Recording No: Book 1001, Page 570, of Official Records

3. Easement(s) for the purpose(s) shown below and rights incidental thereto as set forth in a document:

Purpose: Pipeline
Recording Date: September 1, 1961
Recording No: 75625, of Official Records
The exact location and extent of said easement is not disclosed of record.

4. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Granted to: Southern California Edison Company, a corporation Purpose: Utilities
Recording Date: March 16, 1977
Recording No: 43349, of Official Records
Affects: said land more particularly described therein.

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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) PRELIMINARY REPORT Chicago Title Company
YOUR REFERENCE: ORDER NO.: 00120929-987-OC1-K27

EXCEPTIONS
(Continued)
CLTA Preliminary Report Form – Modified (11/17/06) Page 5

5. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other matters shown on Map: Record of Survey
Recording No: Book 80, Page 53, of Record of Surveys

6. Matters contained in that certain document
Entitled: Lease Agreement
Executed by: Moreno Valley Public Facilities Financing Corporation and the City of Moreno Valley Recording Date: May 31, 1989
Recording No: 177633, of Official Records
Reference is hereby made to said document for full particulars.

7. Matters contained in that certain document
Entitled: Assignment Agreement
Executed by: The Moreno Valley Public Facilities Financing Corporation and State Street Bank and Trust Company of California, N.A.

Recording Date: May 31, 1989
Recording No: 177630, of Official Records
Reference is hereby made to said document for full particulars.

8. Matters contained in that certain document
Entitled: Resolution No. 93-43, Resolution of the City Council of the City of Moreno Valley, California, Accepting a Grant of Easement for Public Street and Utility Purposes from the Moreno Valley Public Facilities Financing Corporation But Specifically Not Accepting as Part of the City-Maintained Street System
Recording Date: June 7, 1993
Recording No: 211297, of Official Records
Reference is hereby made to said document for full particulars.

9. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Granted to: County of Riverside
Purpose: Anchor easement
Recording Date: April 20, 1976
Recording No: 52387, of Official Records
Affects: said land more particularly described therein.

10. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Granted to: The City of Moreno Valley
Purpose: Perpetual easement and right of way for public highway purposes, including public utilities, private utilities
Recording Date: September 25, 2013
Recording No: 2013-0463248, of Official Records
Affects: As descried therein.

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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) PRELIMINARY REPORT Chicago Title Company
YOUR REFERENCE: ORDER NO.: 00120929-987-OC1-K27

EXCEPTIONS
(Continued)
CLTA Preliminary Report Form – Modified (11/17/06) Page 6

11. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Granted to: The City of Moreno Valley
Purpose: Operate, maintain and construct drainage facilities Recording Date: September 25, 2013
Recording No: 2013-0463250, of Official Records
Affects: As described therein.

12. Matters contained in that certain document
Entitled: Resolution No. 2013-70, a Resolution of the City Council of the City of Moreno Valley, California, Granting a Drainage Easement on a City Owned Parcel on the Northwest Corner of Alessandro Boulevard and Nason Street
Recording Date: October 8, 2013
Recording No: 2013-0484376, of Official Records
Reference is hereby made to said document for full particulars.

THE FOLLOWING MATTERS AFFECT PARCEL 2:

13. Easement(s) for the purpose(s) shown below and rights incidental thereto as reserved in a document; Reserved to: Bear Valley and Alessandro Development Company Purpose: A right of way over, under, through and upon said Land and every part thereof for all necessary pipelines, ditches and flumes; also the right to enter upon said Land to construct and repair pipelines, ditches, and flumes, together with the right to conduct water in and through the same.

Recording No.: Book 11, Page 10, of Maps,
San Bernardino County Records
The exact location and extent of said easement is not disclosed of record.

14. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Granted to: Southern Sierras Power Company, a corporation Purpose: Public utilities
Recording Date: April 29, 1930
Recording No: Book 852, Page 325, of Deeds
Affects: said land more particularly described therein.

15. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Granted to: California Electric Power Company, a corporation Purpose: Polelines
Recording Date: February 24, 1961
Recording No: 16151, of Official Records
Affects: said land more particularly described therein.

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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) PRELIMINARY REPORT Chicago Title Company
YOUR REFERENCE: ORDER NO.: 00120929-987-OC1-K27

EXCEPTIONS
(Continued)
CLTA Preliminary Report Form – Modified (11/17/06) Page 7

16. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Granted to: Southern California Edison Company, a corporation Purpose: Either or both pole lines, conduits
Recording Date: March 16, 1977
Recording No: 43349, of Official Records
Affects: said land more particularly described therein.

17. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other matters shown on Map: Record of Survey
Recording No: Book 80, Page 53, of Record of Surveys

18. Matters contained in that certain document
Entitled: Lease Agreement
Executed by: Moreno Valley Public Facilities Financing Corporation, a nonprofit public benefit corporation duly organized and existing under the laws of the State of California and the City of Moreno Valley, a general law city duly organized and existing under the laws of the State of California
Recording Date: May 31, 1989
Recording No: 177633, of Official Records
Reference is hereby made to said document for full particulars.

19. Matters contained in that certain document
Entitled: Assignment Agreement
Executed by: The Moreno Valley Public Facilities Financing Corporation and State Street Bank and Trust Company of California, N.A.

Recording Date: May 31, 1989
Recording No: 177630, of Official Records
Reference is hereby made to said document for full particulars.

20. Matters contained in that certain document
Entitled: Resolution No. 93-43, Resolution of the City Council of the City of Moreno Valley, California, Accepting a Grant of Easement for Public Street and Utility Purposes from the Moreno Valley Public Facilities Financing Corporation But Specifically Not Accepting as Part of the City-Maintained Street System
Recording Date: June 7, 1993
Recording No: 211297, of Official Records
Reference is hereby made to said document for full particulars.

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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) PRELIMINARY REPORT Chicago Title Company
YOUR REFERENCE: ORDER NO.: 00120929-987-OC1-K27

EXCEPTIONS
(Continued)
CLTA Preliminary Report Form – Modified (11/17/06) Page 8

21. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Granted to: Eastern Municipal Water District
Purpose: Pipelines
Recording Date: February 8, 2012
Recording No: 2012-0058023, of Official Records
Affects: A portion of said land as more particularly described in said document.

22. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Granted to: Eastern Municipal Water District
Purpose: Pipelines
Recording Date: April 19, 2012
Recording No: 2012-0177957, of Official Records
Affects: A portion of said land as more particularly described in said document.

23. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document:

Granted to: The City of Moreno Valley
Purpose: Perpetual easement and right of way for public highway purposes, including public utilities, private utilities
Recording Date: September 25, 2013
Recording No: 2013-0463249, of Official Records
Affects: As described therein.

THE FOLLOWING MATTERS AFFECT ALL PARCELS:

24. Matters contained in that certain document
Entitled: Hold Harmless Agreement for Sewer
Dated: November 8, 2012
Executed by: City of Moreno Valley and Eastern Municipal Water District, a public agency Recording Date: January 18, 2013
Recording No: 2013-0030669, of Official Records
Reference is hereby made to said document for full particulars.

25. Matters contained in that certain document
Entitled: Resolution No. 2013-69, a Resolution of the City Council of the City of Moreno Valley, California, Granting a Public Roadway Easement on City Owned Parcels Fronting the West Side of Nason Street Between Alessandro Boulevard and Cottonwood Avenue Recording Date: October 8, 2013
Recording No: 2013-0484375, of Official Records
Reference is hereby made to said document for full particulars.

26. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other matters which a correct survey would disclose and which are not shown by the public records.

27. Any easements not disclosed by the public records as to matters affecting title to real property, whether or not said easements are visible and apparent.

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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) PRELIMINARY REPORT Chicago Title Company
YOUR REFERENCE: ORDER NO.: 00120929-987-OC1-K27

EXCEPTIONS
(Continued)
CLTA Preliminary Report Form – Modified (11/17/06) Page 9

28. Matters which may be disclosed by an inspection a nd/or by a correct ALTA/NSPS Land Title Survey of said Land that is satisfactory to the Company, and/or by inquiry of the parties in possession thereof.

29. Any rights of the parties in possession of a portion of, or all of, said Land, which rights are not disclosed by the public records.

The Company will require, for review, a full and complete copy of any unrecorded agreement, contract, license and/or lease, together with all supplements, assignments and amendments thereto, before issuing any policy of title insurance without excepting this item from coverage.

The Company reserves the right to except additional items and/or make additional requirements after reviewing said documents.

PLEASE REFER TO THE “INFORMATIONAL NOTES” AND “REQUIREMENTS” SECTIONS WHICH FOLLOW FOR INFORMATION NECESSARY TO COMPLETE THIS TRANSACTION.

END OF EXCEPTIONS
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) PRELIMINARY REPORT Chicago Title Company
YOUR REFERENCE: ORDER NO.: 00120929-987-OC1-K27
CLTA Preliminary Report Form – Modified (11/17/06) Page 10

REQUIREMENTS SECTION

1. The requirement that this company be furnished with proper regulatory statues authorizing this transaction and appropriate documentation indicating who may execute on behalf of the City of Moreno Valley.

2. Unrecorded matters which may be disclosed by an Owner’s Affidavit or Declaration. A form of the Owner’s Affidavit/Declaration is attached to this Preliminary Report/Commitment. This Affidavit/Declaration is to be completed by the record owner of the land and submitted for review prior to the closing of this transaction. Your prompt attention to this requirement will help avoid delays in the closing of this transaction. Thank you.

The Company reserves the right to add additional items or make further requirements after review of the requested Affidavit/Declaration.

END OF REQUIREMENTS
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) PRELIMINARY REPORT Chicago Title Company
YOUR REFERENCE: ORDER NO.: 00120929-987-OC1-K27
CLTA Preliminary Report Form – Modified (11/17/06) Page 11

INFORMATIONAL NOTES SECTION

1. None of the items shown in this report will cause the Co mpany to decline to attach ALTA Endorsement Form 9 to an Extended Coverage Loan Policy, when issued.

2. Note: The policy of title insurance will include an arbitration provision. The Company or the insured may demand arbitration. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the insured arising out of or relating to this policy, any service of the Company in connection with its issuance or the breach of a policy provision or other obligation. Please ask your escrow or title officer for a sample copy of the policy to be issued if you wish to review the arbitration provisions and any other provisions pertaining to your Title Insurance coverage.

3. Notice: Please be aware that due to the conflict be tween federal and state laws concerning the cultivation, distribution, manufacture or sale of marijuana, the Company is not able to close or insure any transaction involving Land that is associated with these activities.

4. Pursuant to Government Code Section 27388.1, as amended and effective as of 1-1-2018, a Documentary Transfer Tax (DTT) Affidavit may be required to be completed and submitted with each document when DTT is being paid or when an exemption is being claimed from paying the tax. If a governmental agency is a party to the document, the form will not be required. DTT Affidavits may be available at a Tax Assessor-County Clerk-Recorder.

5. Due to the special requirements of SB 50 (California Public Resources Code Section 8560 et seq.), any transaction that includes the conveyance of title by an agency of the United States must be approved in advance by the Company’s State Counsel, Regional Counsel, or one of their designees.

6. Note: There are NO conveyances affecting said Land recorded within 24 months of the date of this report.

END OF INFORMATIONAL NOTES
John Balassi/Jason Silva (OC/Comm)/725
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) Wire Fraud Alert Page 1
Original Effective Date: 5/11/2017
Current Version Date: 5/11/2017 WIRE0016 (DSI Rev. 12/07/17) TM and © Fidelity National Financial, Inc. and/or an affiliate. All rights reserved Wire Fraud Alert
This Notice is not intended to provide legal or professional advice. If you have any questions, please consult with a lawyer.

All parties to a real estate transaction are targets for wire fraud and many have lost hundreds of thousands of dollars because they simply relied on the wire instructions received via email, without further verification. If funds are to be wired in conjunction with this real estate transaction, we strongly recommend verbal verification of wire instructions through a known, trusted phone number prior to sending funds.

In addition, the following non‐exclusive self‐protection strategies are recommended to minimize exposure to possible wire fraud. • NEVER RELY on emails purporting to change wire instructions. Parties to a transaction rarely change wire instructions in the course of a transaction.
• ALWAYS VERIFY wire instructions, specifically the ABA routing number and account number, by calling the party who sent the instructions to you. DO NOT use the phone number provided in the email containing the instructions, use phone numbers you have called before or can otherwise verify. Obtain the phone number of relevant parties to the transaction as soon as an escrow account is opened . DO NOT send an email to verify as the email address may be incorrect or the email may be intercepted by the fraudster.
• USE COMPLEX EMAIL PASSWORDS that employ a combination of mixed case, numbers, and symbols. Make your passwords greater than eight (8) characters. Also, change your password often and do NOT reuse the same password for other online accounts.
• USE MULTI-FACTOR AUTHENTICATION for email accounts. Your email provider or IT staff may have specific instructions on how to implement this feature.

For more information on wire‐fraud scams or to report an incident, please refer to the following links:

Federal Bureau of Investigation: Internet Crime Complaint Center:
http://www.fbi.gov http://www.ic3.gov
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) FNF Privacy Statement (Eff. 5/1/2015) Last Updated March 1, 2017 Copyright © 2017. Fidelity National Financial, Inc. All Rights Reserved MISC0219 (DSI Rev. 3/2/17) Page 1 Order No. 00120929-987-OC1-K27 FIDELITY NATIONAL FINANCIAL, INC.

PRIVACY NOTICE
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When you visit an FNF Website, a “cookie” may be sent to your computer. A cookie is a small piece of data that is sent to your Internet browser from a web server and stored on your computer’s hard drive. Information gathered using cookies helps us improve your user experience. For example, a cookie can help the website load properly or can customize the display page based on your browser type and user preferences. You can choose whether or not to accept cookies by changing your Internet browser settings. Be aware that doing so may impair or limit some functionality of the FNF Website.

Web Beacons.

We use web beacons to determine when and how many times a page has been viewed. This information is used to improve our websites.

Do Not Track.

Currently our FNF Websites do not respond to “Do Not Track” features enabled through your browser.

Links to Other Sites. FNF Websites may contain links to other websites. FNF is not responsible for the privacy practices or the content of any of those other websites. We advise you to read the privacy policy of every website you visit.

Use of Personal Information
FNF uses Personal Information for three main purposes:
• To provide products and services to you or in connection with a transaction involving you. • To improve our products and services.
• To communicate with you about our, our affiliates’, and third parties’ products and services, jointly or independently.

When Information Is Disclosed
We may make disclosures of your Personal Information and Browsing Information in the following circumstances:
• to enable us to detect or prevent criminal activity, fraud, material misrepresentation, or nondisclosure; • to nonaffiliated service providers who provide or perform services or functions on our behalf and who agree to use the informat ion only to provide such services or functions;
• to nonaffiliated third party service providers with whom we perform joint marketing, pursuant to an agreement with them to jointly market financial products or services to you;
• to law enforcement or authorities in connection with an investigation, or in response to a subpoena or court order; or F.1.f
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) FNF Privacy Statement (Eff. 5/1/2015) Last Updated March 1, 2017 Copyright © 2017. Fidelity National Financial, Inc. All Rights Reserved MISC0219 (DSI Rev. 3/2/17) Page 2 Order No. 00120929-987-OC1-K27 • in the good-faith belief that such disclosure is necessary to co mply with legal process or applicable laws, or to protect the r ights, property, or safety of FNF, its customers, or the public.

The law does not require your prior authorization and does not allow you to restrict the disclosures described above. Additionally, we may disclose your information to third parties for whom you have given us authorization or consent to make such disclosure. We do not otherwise share your Personal Information or Browsing Information with nonaffiliated third parties, except as required or permitted by law.

We reserve the right to transfer your Personal Information, Browsing Information, and any other information, in connection with the sale or other disposition of all or part of the FNF business and/or assets, or in the event of bankruptcy, reorganization, insolvency, receivership, or an assignment for the benefit of creditors. By submitting Personal Information and/or Browsing Information to FNF, you expressly agree and consent to the use and/or transfer of the foregoing information in connection with any of the above described proceedings.

Please see “Choices With Your Information” to learn the disclosures you can restrict.

Security of Your Information
We maintain physical, electronic, and procedural safeguards to guard your Personal Information. We limit access to nonpublic personal information about you to employees who need to know that information to do their job. When we provide Personal Information to others as discussed in this Privacy Notice, we expect that they process such information in compliance with our Privacy Notice and in compliance with applicable privacy laws.

Choices With Your Information
If you do not want FNF to share your information with our affiliates to directly market to you, you may send an “opt out” request by email, phone, or physical mail as directed at the end of this Privacy Notice. We do not share your Personal Information with nonaffiliates for their use to direct market to you.

Whether you submit Personal Information or Browsing Information to FNF is entirely up to you. If you decide not to submit Personal Information or Browsing Information, FNF may not be able to provide certain services or products to you.

For California Residents:

We will not share your Personal Information and Browsing Information with nonaffiliated third parties, except as permitted by California law.

For Nevada Residents:

You may be placed on our internal Do Not Call List by calling (888) 934-3354 or by contacting us via the information set forth at the end of this Privacy Notice. Nevada law requires that we also provide you with the following contact information: Bureau of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington St., Suite 3900, Las Vegas, NV 89101; Phone number: (702) 486-3132; email: [email protected].

For Oregon Residents: We will not share your Personal Information and Browsing Information with nonaffiliated third parties for marketing purposes, except after you have been informed by us of such sharing and had an opportunity to indicate that you do not want a disclosure made for marketing purposes.

For Vermont Residents:

We will not share information about your creditworthiness to our affiliates and will not disclose your personal information, financial information, credit report, or health information to nonaffiliated third parties to market to you, other than as permitted by Vermont law, unless you authorize us to make those disclosures.

Information From Children
The FNF Websites are meant for adults and are not intended or designed to attract persons under the age of eighteen (18).We do not collect Personal Information from any person that we know to be under the age of thirteen (13) without permission from a parent or guardian.

International Users
FNF’s headquarters is located within the United States. If you reside outside the United States and choose to provide Personal Information or Browsing Information to us, please note that we may transfer that information outside of your country of residence for any of the purposes described in this Privacy Notice. By providing FNF with your Personal Information and/or Browsing Information, you consent to our collection, transfer, and use of such information in accordance with this Privacy Notice.

FNF Website Services for Mortgage Loans
Certain FNF companies provide services to mortgage loan servicers, including hosting websites that collect customer information on behalf of mortgage loan servicers (the “Service Websites”). The Service Websites may contain links to both this Privacy Notice and the mortgage loan servicer or lender’s privacy notice. The sections of this Privacy Notice titled When Information is Disclosed, Choices with Your Information, and Accessing and Correcting Information do not apply to the Service Websites. The mortgage loan servicer or lender’s privacy notice governs use, disclosure, and access to your Personal Information. FNF does not share Personal Information collected through the Service Websites, except (1) as required or authorized by contract with the mortgage loan servicer or lender, or (2) as required by law or in the good-faith belief that such disclosure is necessary to comply with a legal process or applicable law, to enforce this Privacy Notice, or to protect the rights, property, or safety of FNF or the public.

Your Consent To This Privacy Notice; Notice Changes
By submitting Personal Information and/or Browsing Information to FNF, you consent to the collection and use of the information in accordance with this Privacy Notice. We may change this Privacy Notice at any time. The revised Privacy Notice, showing the new revision date, will be posted on the FNF Website. Each time you provide information to us following any amendment of this Privacy Notice, your provision of information to us will signify your assent to and acceptance of the terms of the revised Privacy Notice for all previously collected information and information F.1.f
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) FNF Privacy Statement (Eff. 5/1/2015) Last Updated March 1, 2017 Copyright © 2017. Fidelity National Financial, Inc. All Rights Reserved MISC0219 (DSI Rev. 3/2/17) Page 3 Order No. 00120929-987-OC1-K27 collected from you in the future. We may use comments, information or feedback that you submit to us in any manner that we may choose without notice or compensation to you.

Accessing and Correcting Information; Contact Us
If you have questions, would like to access or correct your Personal Information, or want to opt-out of information sharing for affiliate marketing, send your requests via email to [email protected], by phone to (888) 934-3354, or by mail to:

Fidelity National Financial, Inc.
601 Riverside Avenue
Jacksonville, Florida 32204
Attn: Chief Privacy Officer
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) CA Discount Notice Effective Date: 1-10-2010
Notice of Available Discounts
Pursuant to Section 2355.3 in Title 10 of the California Code of Regulations Fidelity National Financial, Inc. and its subsidiaries (“FNF”) must deliver a notice of each discount available under our current rate filing along with the delivery of escrow instructions, a preliminary report or commitment. Please be aware that the provision of this notice does not constitute a waiver of the consumer’s right to be charged the field rate. As such, your transaction may not qualify for the below discounts.

You are encouraged to discuss the applicability of one or more of the below discounts with a Company representative. These discounts are generally described below; consult the rate manual for a full description of the terms, conditions and requirements for each discount. These discounts only apply to transaction involving services rendered by the FNF Family of Companies. This notice only applies to transactions involving property improved with a one-to-four family residential dwelling.

FNF Underwritten Title Company
FNF Underwriter
CTC - Chicago Title Company CTIC - Chicago Title Insurance Company Available Discounts

CREDIT FOR PRELIMINARY REPORTS AND/OR COMMITMENTS ON SUBSEQUENT POLICIES (CTIC) Where no major change in the title has occurred since the issuance of the original report or commitment, the order may be reopened within 12 months and all or a portion of the charge previously paid for the report or commitment may be credited on a subsequent policy charge within the following time period from the date of the report.

DISASTER LOANS (CTIC)
The charge for a lender’s Policy (Standard or Extended coverage ) covering the financing or refinancing by an owner of record, within 24 months of the date of a declaration of a disast er area by the government of the United States or the State of California on any land located in said area, which was par tially or totally destroyed in the disaster, will be 50% of the appropriate title insurance rate.

CHURCHES OR CHARITABLE NON-PROFIT ORGANIZATIONS (CTIC)
On properties used as a church or for charitable purposes within the scope of the normal activities of such entities, provided said charge is normally the church’s obligation the charge for an owner’s policy shall be 50% to 70% of the appropriate title insurance rate, depending on the type of coverage selected . The charge for a lender’s policy shall be 40% to 50% of the appropriate title insurance rate, depending on the type of coverage selected.

EMPLOYEE RATE (CTC and CTIC)
No charge shall be made to employees (including empl oyees on approved retirement) of the Company or its underwritten, subsidiary title companies for policies or escrow services in c onnection with financing, refinancing, sale or purchase of the employees’ bona fide home property. Waiver of such charges is authorized only in connection with those costs which the employee would be obligated to pay, by established custom, as a party to the transaction.

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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) Attachment One (6-5-14) CA & NV

ATTACHMENT ONE

CALIFORNIA LAND TITLE ASSOCIATION
STANDARD COVERAGE POLICY – 1990

EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of th is policy and the Company will not pay loss or damage, cost s, attorneys' fees or expenses which arise by reason of:

1. (a) Any law, ordinance or governmental regulation (including but not limited to building or zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or locatio n of any improvement now or hereafter erected on the land; (iii) a separatio n in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv) environment al protection, or the effect of any violation of these laws, ordi nances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien, or encum brance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or notic e of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy.

2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value wi thout knowledge.

3. Defects, liens, encumbrances, adverse claims or other matters:
(a) whether or not recorded in the public records at Date of Policy, but created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not di sclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting in loss or damage which would not have been sustaine d if the insured claimant had paid value for the insured mortgage or for the estate or interest insured by this policy.

4. Unenforceability of the lien of the insured mortgage because of the inability or failure of the insured at Date of Policy, or the inability or failure of any subsequent owner of the indebtedness, to comply with the applicable doing business laws of the state in which the land is situated.

5. Invalidity or unenforceability of the lien of the insured mortgage, or claim thereof, which arises out of the transaction evi denced by the insured mortgage and is based upon usury or any consumer credit protection or truth in lending law.

6. Any claim, which arises out of the transaction vesting in th e insured the estate of interest insured by this policy or the tr ansaction creating the interest of the insured lender, by reason of the operation of federal bankruptcy, state insolvency or similar creditors' rights laws.

EXCEPTIONS FROM COVERAGE - SCHEDULE B, PART I
This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of:

1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assess ments on real property or by the public records.

Proceedings by a public agency which may result in taxes or asse ssments, or notices of such proceedings, whether or not shown b y the records of such agency or by the public records.

2. Any facts, rights, interests, or claims which are not shown by the public records but which could be ascertained by an inspec tion of the land or which may be asserted by persons in possession thereof.

3. Easements, liens or encumbrances, or claims thereof, not shown by the public records.

4. Discrepancies, conflicts in boundary lines, shortage in area, en croachments, or any other facts which a correct survey would disclose, and which are not shown by the public records.

5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) wa ter rights, claims or title to water, whether or not the matters excepted under (a), (b) or (c) are shown by the public records.

6. Any lien or right to a lien for services, labor or material not shown by the public records.

CLTA HOMEOWNER'S POLICY OF TITLE INSURANCE (12-02-13)

ALTA HOMEOWNER'S POLICY OF TITLE INSURANCE

EXCLUSIONS
In addition to the Exceptions in Schedule B, You are not insured against loss, costs, attorneys' fees, and expenses resulting from:

1. Governmental police power, and the existence or violation of those portions of any law or government regulation concerning:
a. building;
b. zoning;
c. land use;
d. improvements on the Land;
e. land division; and
f. environmental protection.

This Exclusion does not limit the coverage described in Covered Risk 8.a., 14, 15, 16, 18, 19, 20, 23 or 27.

2. The failure of Your existing structures, or any part of them, to be constructed in accordance with applicable building codes. This Exclusion does not limit the coverage described in Covered Risk 14 or 15.

3. The right to take the Land by condemning it. This Exclusion does not limit the coverage described in Covered Risk 17.

4. Risks:
a. that are created, allowed, or agreed to by You, whether or not they are recorded in the Public Records; b. that are Known to You at the Policy Date, but not to Us, unless they are recorded in the Public Records at the Policy Date; F.1.f
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) Attachment One (6-5-14) CA & NV
c. that result in no loss to You; or
d. that first occur after the Policy Date - this does not limit the coverage described in Covered Risk 7, 8.e., 25, 26, 27 or 28 .

5. Failure to pay value for Your Title.

6. Lack of a right:
a. to any land outside the area specifically described and referred to in paragraph 3 of Schedule A; and b. in streets, alleys, or waterways that touch the Land.

This Exclusion does not limit the coverage described in Covered Risk 11 or 21.

7. The transfer of the Title to You is invalid as a preferenti al transfer or as a fraudulent transfer or conveyance under federa l bankruptcy, state insolvency, or similar creditors’ rights laws.

8. Contamination, explosion, fire, flooding, vibration, fracturing, earthquake, or subsidence.

9. Negligence by a person or an Entity exercising a right to extract or develop minerals, water, or any other substances.

LIMITATIONS ON COVERED RISKS
Your insurance for the following Covered Risks is limited on the Owner’s Coverage Statement as follows:
• For Covered Risk 16, 18, 19, and 21 Your Deductible Amount and Our Maximum Dollar Limit of Liability shown in Schedule A.

The deductible amounts and maximum dollar limits shown on Schedule A are as follows:

Your Deductible Amount
Our Maximum Dollar
Limit of Liability
Covered Risk 16:

1.00% % of Policy Amount Shown in Schedule A or
$2,500.00 (whichever is less) $ 10,000.00
Covered Risk 18:

1.00% % of Policy Amount Shown in Schedule A or
$5,000.00 (whichever is less) $ 25,000.00
Covered Risk 19:

1.00% of Policy Amount Shown in Schedule A or
$5,000.00 (whichever is less) $ 25,000.00
Covered Risk 21:

1.00% of Policy Amount Shown in Schedule A or
$2,500.00 (whichever is less) $ 5,000.00
2006 ALTA LOAN POLICY (06-17-06)

EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, cos ts, attorneys' fees, or expenses that arise by reason of:

1. (a) Any law, ordinance, permit, or governmental regulation (includi ng those relating to building and zoning) restricting, regu lating, prohibiting, or relating to
(i) the occupancy, use, or enjoyment of the Land;
(ii) the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or
(iv) environmental protection;
or the effect of any violation of these laws, ordinances, or governm ental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5.
(b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6.

2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.

3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not di sclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covere d Risk 11, 13 or 14); or
(e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Insured Mortga ge.

4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applica ble doing-business laws of the state where the Land is situated.

5. Invalidity or unenforceability in whole or in part of the lien of the Insured Mortgage that arises out of the transaction evi denced by the Insured Mortgage and is based upon usury or any consumer credit protection or truth-in-lending law.

6. Any claim, by reason of the operation of federal bankruptcy, sta te insolvency, or similar creditors’ rights laws, that the tr ansaction creating the lien of the Insured Mortgage, is
(a) a fraudulent conveyance or fraudulent transfer, or
(b) a preferential transfer for any reason not stated in Covered Risk 13(b) of this policy.

7. Any lien on the Title for real estate taxes or assessments impos ed by governmental authority and created or attaching between Date of Policy and the date of recording of the Insured Mortgage in the Public Records. This Exclusion does not modify or limit the coverage provided under Covered Risk 11(b).

The above policy form may be issued to afford either Standard Coverage or Extended Coverage. In addition to the above Exclusions from Coverage, the Exceptions from Coverage in a Standard Coverage policy will also include the following Exceptions from Coverage:

EXCEPTIONS FROM COVERAGE
(Except as provided in Schedule B - Part II,( t(or T)his policy doe s not insure against loss or damage, and the Company will no t pay costs, attorneys’ fees or expenses, that arise by reason of:

F.1.f
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) Attachment One (6-5-14) CA & NV
(PART I
(The above policy form may be issued to afford either Standard C overage or Extended Coverage. In addition to the above Exclusi ons from Coverage, the Exceptions from Coverage in a Standard Coverage policy will also include the following Exceptions from Coverage:

1. (a) Taxes or assessments that are not shown as existing liens by the records of any taxing authority that levies taxes or ass essments on real property or by the Public Records; (b) proceedings by a public agency that may result in taxes or assessments, or notices of su ch proceedings, whether or not shown by the records of such agency or by the Public Records.

2. Any facts, rights, interests, or claims that are not shown by the Public Records but that could be ascertained by an inspecti on of the Land or that may be asserted by persons in possession of the Land.

3. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records.

4. Any encroachment, encumbrance, violation, variation, or advers e circumstance affecting the Title that would be disclosed by a n accurate and complete land survey of the Land and not shown by the Public Records.

5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) wate r rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records.

6. Any lien or right to a lien for services, labor or material not shown by the Public Records.

PART II
In addition to the matters set forth in Part I of this Schedule, the Title is subject to the following matters, and the Company insures against loss or damage sustained in the event that they are not subordinate to the lien of the Insured Mortgage:) 2006 ALTA OWNER’S POLICY (06-17-06)

2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.

3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not di sclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covere d Risk 9 and 10); or
(e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title.

4. Any claim, by reason of the operation of federal bankruptcy, sta te insolvency, or similar creditors’ rights laws, that the t ransaction vesting the Title as shown in Schedule A, is
(a) a fraudulent conveyance or fraudulent transfer; or
(b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy.

5. Any lien on the Title for real estate taxes or assessments impos ed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A.

EXCEPTIONS FROM COVERAGE
This policy does not insure against loss or damage, and the Company will not pay costs, attorneys’ fees or expenses, that arise by reason of:
(The above policy form may be issued to afford either Standard C overage or Extended Coverage. In addition to the above Exclusi ons from Coverage, the Exceptions from Coverage in a Standard Coverage policy will also include the following Exceptions from Coverage:

2. Any facts, rights, interests, or claims that are not shown in the Public Records but that could be ascertained by an inspecti on of the Land or that may be asserted by persons in possession of the Land.

3. Easements, liens or encumbrances, or claims thereof, not shown by the Public Records.

5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) wate r rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records.

6. Any lien or right to a lien for services, labor or material not shown by the Public Records.

7. (Variable exceptions such as taxes, easements, CC&R’s, etc. shown here.) F.1.f
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) Attachment One (6-5-14) CA & NV
ALTA EXPANDED COVERAGE RESIDENTIAL LOAN POLICY (12-02-13)

EXCLUSIONS FROM COVERAGE
The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys’ fees or expenses which arise by reason of:

1. (a) Any law, ordinance, permit, or governmental regulation (includi ng those relating to building and zoning) restricting, regu lating, prohibiting, or relating to
(i) the occupancy, use, or enjoyment of the Land;
(ii) the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or
(iv) environmental protection;
or the effect of any violation of these laws, ordinances, or governm ental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5, 6, 13(c), 13(d), 14 or 16. (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 5, 6, 13(c), 13(d), 14 or 16.

2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8.

3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not di sclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 11, 16, 17, 18, 19, 20, 21, 22, 23, 24, 27 or 28); or
(e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Insured Mortga ge.

4. Unenforceability of the lien of the Insured Mortgage because of the inability or failure of an Insured to comply with applica ble doing-business laws of the state where the Land is situated.

5. Invalidity or unenforceability in whole or in part of the lien of the Insured Mortgage that arises out of the transaction evi denced by the Insured Mortgage and is based upon usury, or any consumer credit protecti on or truth-in-lending law. This Exclusion does not modify or limit the coverage provided in Covered Risk 26.

6. Any claim of invalidity, unenforceability or lack of priority of the lien of the Insured Mortgage as to Advances or modificat ions made after the Insured has Knowledge that the vestee shown in Schedule A is no longer the owner of the estate or interest covered by this poli cy. This Exclusion does not modify or limit the coverage provided in Covered Risk 11.

7. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching subsequ ent to Date of Policy. This Exclusion does not modify or limit the coverage provided in Covered Risk 11(b) or 25.

8. The failure of the residential structure, or any portion of it, to have been constructed before, on or after Date of Policy in accordance with applicable building codes. This Exclusion does not modify or limit the coverage provided in Covered Risk 5 or 6.

9. Any claim, by reason of the operation of federal bankruptcy, sta te insolvency, or similar creditors’ rights laws, that the t ransaction creating the lien of the Insured Mortgage, is
(a) a fraudulent conveyance or fraudulent transfer, or
(b) a preferential transfer for any reason not stated in Covered Risk 27(b) of this policy.

10. Contamination, explosion, fire, flooding, vibration, fracturing, earthquake, or subsidence.

11. Negligence by a person or an Entity exercising a right to extract or develop minerals, water, or any other substances.

F.1.f
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) F.1.f
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) Owner’s Declaration Printed: 3/24/2017 2:27 AM by 725
MISC0220 (DSI Rev. 10/17/17) Page 10 Escr o

OWNER'S DECLARATION
Escrow No.: 00120929-987-OC1-K27
Property Address: Vacant Land
Moreno Valley, CA
The undersigned hereby declares as follows:

1. (Fill in the applicable paragraph and strike the other) a. Declarant ("Owner") is the owner or lessee, as the case may be, of certain premises located at Vacant Land, Moreno Valley, CA, further described as follows: See Preliminary Report/Commitment No. for full legal description (the "Land").
b. Declarant is the ______________________________ of ____________________________________ ("Owner"), which is the owner or lessee, as the case may be, of certain premises located at Vacant Land, Moreno Valley, CA, further described as follows: See Preliminary Report/Commitment No. for full legal description (the "Land").

2. (Fill in the applicable paragraph and strike the other) a. During the period of six months immediately preceding the date of this declaration no work has been done, no surveys or architectural or engineering plans have been prepared, and no materials have been furnished in connection with the erection, equipment, repair, protection or removal of any building or other structure on the Land or in connection with the improvement of the Land in any manner whatsoever.
b. During the period of six months immediately preceding the date of this declaration certain work has been done and materials furnished in connection with _________________________ upon the Land in the approximate total sum of $__________, but no work whatever remains to be done and no materials remain to be furnished to complete the construction in full compliance with the plans and specifications, nor are there any unpaid bills incurred for labor and materials used in making such improvements or repairs upon the Land, or for the services of architects, surveyors or engineers, except as follows: ___________________________________________. Owner, by the undersigned Declarant, agrees to and does hereby indemnify and hold harmless Chicago Title Company against any and all claims arising therefrom.

3. Owner has not previously conveyed the Land; is not a debtor in bankruptcy (and if a partnership, the general partner thereof is not a debtor in bankruptcy); and has not received notice of any pending court action affecting the title to the Land.

4. Except as shown in the above-referenced Preliminary Report/Commitment, there are no unpaid or unsatisfied mortgages, deeds of trust, Uniform Commercial Code financing statements, regular assessments, special assessments, periodic assessments or any assessment from any source, claims of lien, special assessments, or taxes that constitute a lien against the Land or that affect the Land but have not been recorded in the public records. There are no violations of the covenants, conditions and restrictions as shown in the above-referenced Preliminary Report/Commitment.

5. The Land is currently in use as _____________________; _______________________ occupy/occupies the Land; and the following are all of the leases or other occupancy rights affecting the Land:
___________________________________________________________________________________

6. There are no other persons or entities that assert an ownership interest in the Land, nor are there unrecorded easements, claims of easement, or boundary disputes that affect the Land.

7. There are no outstanding options to purchase or rights of first refusal affecting the Land.

8. Between the most recent Effective Date of the above-referenced Preliminary Report/Commitment and the date of recording of the Insured Instrument(s), Owner has not taken or allowed, and will not take or allow, any action or inaction to encumber or otherwise affect title to the Land.

This declaration is made with the intention that Chicago Title Co mpany (the "Company") and its policy issuing agents will rely upon it in issuing their title insurance policies and endorsements. Owner, by the undersigned Declarant, agrees to indemnify the Company against loss or damage (including attorneys fees, expe nses, and costs) incurred by the Company as a result of any untru e statement made herein.

I declare under penalty of perjury that the foregoing is true an d correct and that this declaration was executed on ______ at _________________________________.

Signature: ________________________________
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY)

CITY OWNED LAND ADDENDA CONTENTS

CUSHMAN & WAKEFIELD

Addendum E:

Comparable Land Sale Data Sheets

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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) Guasti Plaza Specific PlanProperty Name:
2703 E Guasti RdAddress:

Ontario CA 91761City,State,Zip:

San BernardinoJurisdiction:

Riverside - San BernardinoMSA:

Inland Empire-OntarioSubmarket:

LandProperty Type:

CommercialProperty Subtype:

N/AClassification:

ID: 507066
Tax Number(s): 0210-192-11,0211-201-15
LAND SALE COMPARABLE 1
Site Area (Sq.Ft.): 2,439,360 Electricity: Yes
Zoning: Guasti Plaza SP Water: Yes
Utility: Good Sewer: Yes
Access: Good Gas: Yes
Frontage: Good Proposed Use: Mixed Use
Visibility: Good Maximum FAR: N/A
Shape: Irregular
Public Utilities: All AvailableSite Area (Acres): 56.0004 Potential Building Area: N/A
Level Potential Units:: N/A

SALE INFORMATION
Status: Closed Sale
Price per Sq.Ft.: $11.96
Sale Date: 8/2019
Price per Acre: $520,978
N/APrice per Potential Building Area:
$29,175,000Sale Price:

Value Interest: Fee Simple
Price per Potential Units: N/A
Guasti Mansion Development LLC
Financing: N/A
Condition of Sale: N/A
Grantor:

Grantee: Ontario Airport Venture, LLC
CoStar Comps and Public Records

VERIFICATION COMMENTS
OAR: N/A
NOI: N/A
Topography:

PROPERTY INFORMATION

COMMENTS
Confirmed by the buyer 56 acres sold for $29.175 million or about $521K per acre (per COStar). The property has a SP for a mixed-use development.

The buyer does not have a plan for this property yet, exploring options with the city. There is approximately 175,000 square feet of historical buildings on the site that will require renovation and incorporated into the overall development.

VALUATION & ADVISORY
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) Ontario Center - PiemonteProperty Name:
4th Street and Haven AvenueAddress:

Ontario CA 91764City,State,Zip:

San BernardinoJurisdiction:

Riverside-San BernardinoMSA:

Inland Empire-OntarioSubmarket:

LandProperty Type:

Other(Land)Property Subtype:

N/AClassification:

ID: 544718
Tax Number(s): 0210-531-10,0210-531-09,0210-531-08,0210-531 -07,0210-531-06,0210-531-11,0210-531-12
LAND SALE COMPARABLE 2
Site Area (Sq.Ft.): 1,953,230 Electricity: N/A
Zoning: Ontario Center Piemonte Overlay SP Water: N/A
Utility: Average Sewer: N/A
Access: Good Gas: N/A
Frontage: Excellent Proposed Use: Mixed Use
Visibility: Excellent Maximum FAR: N/A
Shape: Irregular
Public Utilities: All AvailableSite Area (Acres): 44.8400 Potential Building Area: 1,292,068
Level Potential Units:: 791

SALE INFORMATION
Status: Closed Sale
Price per Sq.Ft.: $8.28
Sale Date: 9/2017
Price per Acre: $360,737
$12.52Price per Potential Building Area:
$16,175,461Sale Price:

Value Interest: N/A
Price per Potential Units: $20,449
Wells Fargo & City of Ontario RDA
Financing: N/A
Condition of Sale: Arm's Length
Grantor:

Grantee: Lewis Properties & Lincoln Properties
Bill Hoover, Lewis Management Corp

VERIFICATION COMMENTS
OAR: N/A
NOI: N/A
Topography:

PROPERTY INFORMATION

COMMENTS
The property went under contract in September 2016 from both Wells Fargo Bank who had taken back the site from the prior developer and the City of Ontario Successor Agency to re-entitle the site. The City had very specific mandates for the revised Specific Plan, with some very specific entertainment retail and high-density residential uses. According to information provided by Lewis Management, these uses are very specific and limited in nature as the types of development that can be done at the property, therefore development of the property has not occurred since it closed escrow in the past 2.5 years.

According to Lewis Management, approximately $1 million was spent on the re-entitlement process, which involved updates to surrounding CC&Rs with adjoining properties. Therefore, the above pricing of the sale does not include these costs, but should be factored in as a cost as a fully entitled site.

The types of uses allowable under this revised specific plan include:
- Commercial uses, with specifically a grocery anchored center at the SE corner of Haven Avenue and 4th Street - Office uses along Concours Street
- High density residential uses at 30 DU/acre (3-4 story residenti

VALUATION & ADVISORY
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) Sand Canyon PlazaProperty Name:

Sand Canyon RoadAddress:

Santa Clarita CA 91387City,State,Zip:

Los AngelesJurisdiction:

Los Angeles-Long BeachMSA:

Los Angeles North-Santa Clarita ValleySubmarket:

LandProperty Type:

Other(Land)Property Subtype:

N/AClassification:

ID: 544276
Tax Number(s): 2839-006-052,2839-006-058,2839-006-059,2839- 006-060,2839-006-063,2839-006-064,2839-006-065
LAND SALE COMPARABLE 3
Site Area (Sq.Ft.): 3,811,500 Electricity: N/A
Zoning: MX-N Mixed Use- Neighborhood Water: N/A
Utility: Average Sewer: N/A
Access: Average Gas: N/A
Frontage: Average Proposed Use: Mixed Use
Visibility: Average Maximum FAR: N/A
Shape: Irregular
Public Utilities: All AvailableSite Area (Acres): 87.5000 Potential Building Area: 145,000
Irregular Potential Units:: 580

SALE INFORMATION
Status: N/A
Price per Sq.Ft.: $7.35
Sale Date: 4/2020
Price per Acre: $320,000
$193.10Price per Potential Building Area:
$28,000,000Sale Price:

Value Interest: Fee Simple
Price per Potential Units: $48,276
Sand Canyon Plaza LLC
Financing: N/A
Condition of Sale: None
Grantor:

Grantee: N/Av
Curt Randall, WD Land (949) 275-6441

VERIFICATION COMMENTS
OAR: N/A
NOI: N/A
Topography:

PROPERTY INFORMATION

COMMENTS
Per the listing broker, the property is under contract and the buyer is in their due diligence period. Specific deal details were not provided, however the broker indicated that there is a LOI for this private builder with debt secured from Saudi Arabia. Specific details on the sale price could not be disclosed, however pricing was in the high $20 million sale range.

Project details: Fully approved master planned community with certified EIR and Tentative tract map for this unimproved site. Approved for 60,000 sf of grocery anchored retail center, 85,000 sf of assisted living (180 beds), 312 apartment units, 149 townhomes (3 & 4 bedroom at 1,489 to 2,080sf), 119 units of single family detached (1,900 to 2,900sf), streets, private park & recreation center, drainage basin, open space/landscaping and right of way dedication. Net/Buildable: 37.8 AC

VALUATION & ADVISORY
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) Calimesa I Land (Entitled SP)Property Name:

SEC Interstate 10 and Cherry Valley BoulevardAddress:

Calimesa CA 92320City,State,Zip:

RiversideJurisdiction:

Riverside - San BernardinoMSA:

Inland EmpireSubmarket:

LandProperty Type:

CommercialProperty Subtype:

N/AClassification:

ID: 437444
Tax Number(s): N/A
LAND SALE COMPARABLE 4
Site Area (Sq.Ft.): 764,042 Electricity: N/A
Zoning: SP/TC-7 Water: N/A
Utility: Good Sewer: N/A
Access: Good Gas: N/A
Frontage: Good Proposed Use: Retail-Commercial
Visibility: Good Maximum FAR: N/A
Shape: Irregular
Public Utilities: All AvailableSite Area (Acres): 17.5401 Potential Building Area: N/A
Rolling Potential Units:: N/A

SALE INFORMATION
Status: Closed Sale
Price per Sq.Ft.: $9.16
Sale Date: 5/2019
Price per Acre: $399,086
N/APrice per Potential Building Area:
$7,000,000Sale Price:

Value Interest: N/A
Price per Potential Units: N/A
Northlight Trust
Financing: N/A
Condition of Sale: N/A
Grantor:

Grantee: Lewis Commercial
Lukasz Mysliwiec, Northlight Capital Partners (646) 873-6406

VERIFICATION COMMENTS
OAR: N/A
NOI: N/A
Topography:

PROPERTY INFORMATION

COMMENTS
Lewis Acquisition is building a retail center, with Stater Bros. as the anchor tenant. The site was entitled for a 170,000 square foot commercial property, with eight recorded parcels designated for a mix of retail uses including a grocery store, fast food restaurants and office uses.

VALUATION & ADVISORY
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY)

IMPROVEMENT INFORMATION

SALE INFORMATION
Gross Site Area (Acres / Sq.Ft.):

Net Residential Area (Acres / Sq.Ft.):

Zoning:

Utility:

Access:

Frontage:

Visibility:

Shape:

Topography:

Physical Condition:

Entitlements:

Premium Potential:

15.6801 683,019
683,01915.6801
R10, 10 DU/AC
Good
Good
Good
Good
Irregular
Irregular
N/A
No
N/A
Public Utilities:

Electricity:

Water:

Sewer:

Gas:

Proposed Use:

Maximum FAR:

Potential Building Area:

Number of Units:

Units per Acre (Gross / Net):

Tax Rate/Special Assessments:

All Available
N/A
N/A
N/A
N/A
Residential-Single-Family
N/A
N/A
N/A
N/AN/A
N/APremium Type:

Lot Premium:

No. Premium Lots:

N/A
N/A
N/A
Product Type:

Retail Pricing (Min,Avg,Max):

Home Size (Min,Avg,Max):

Commercial Space (SqFt):

N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HOA Dues (per Month/per Year):

Amenities:

N/A N/A
N/A
Gated: No
School District: N/A
Status:

Sale Date:

DOM / Exposure Time:

Sale Price:

Grantor:

Grantee:

Financing:

Document No:

Value Interest:

Buyer Intention:

Bulk / Rolling:

Ground Lease:

Closed Sale
2/2020
1,093
$2,850,000
Perris-Cactus Development LLC
Century Communities Of California, LLC
N/A
2020-0057272
Fee Simple
N/A
N/A
N/A
No
Price per Sq.Ft.:

Price per Acre:

Sale Price per Potential Building
Area:Price per Unit:

Cost to Finished Lot (per Unit):

Price per Finished Lot:

Finished Lot to Home Price Ratio:
$4.17
$181,759
N/A
N/A
N/A
N/A
N/A
Avg. Takedown Rate per Quarter: N/A
Escalator Amount: N/A
Rolling Options
Unentitled R-10 Zoned LandProperty Name:
14631 Perris BlvdAddress:

Moreno Valley CA 92553City, State, Zip:

RiversideJurisdiction:

Riverside-San BernardinoMSA:

Inland Empire-Moreno ValleySubmarket:

LandProperty Type:

Residential (Multi-Family) For SaleProperty Subtype:

N/AClassification:

ID: 544352
Master Plan: N/A
N/ATract/Plat Map:

Planning Area: N/A
Tax Number(s): 428-230-024,482-582-038,482-582-039,482-582-040 LAND SALE COMPARABLE 5
The property had a long escrow period (approx. 18 months) in which the buyer entitled the property for 122 SFR's. According to the development map provided by the city of Moreno Valley, the development is in the planning stages.

COMMENTS
Confirmed - CoStar Comps and Public Records

VERIFICATION COMMENTS

SITE INFORMATION

VALUATION & ADVISORY
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY)

IMPROVEMENT INFORMATION

SALE INFORMATION
Gross Site Area (Acres / Sq.Ft.):

Net Residential Area (Acres / Sq.Ft.):

Zoning:

Utility:

Access:

Frontage:

Visibility:

Shape:

Topography:

Physical Condition:

Entitlements:

Premium Potential:

34.9102 1,520,679
1,520,67934.9102
R3
Good
Good
Good
Good
Rectangular
Level
N/A
No
N/A
Public Utilities:

Electricity:

Water:

Sewer:

Gas:

Proposed Use:

Maximum FAR:

Potential Building Area:

Number of Units:

Units per Acre (Gross / Net):

Tax Rate/Special Assessments:

All Available
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/AN/A
N/APremium Type:

Lot Premium:

No. Premium Lots:

N/A
N/A
N/A
Product Type:

Retail Pricing (Min,Avg,Max):

Home Size (Min,Avg,Max):

Commercial Space (SqFt):

N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
HOA Dues (per Month/per Year):

Amenities:

N/A N/A
N/A
Gated: No
School District: N/A
Status:

Sale Date:

DOM / Exposure Time:

Sale Price:

Grantor:

Grantee:

Financing:

Document No:

Value Interest:

Buyer Intention:

Bulk / Rolling:

Ground Lease:

Closed Sale
9/2019
N/A
$6,155,900
Alessandro and Nason Hamner Properties LLC
East Valley Plaza LLC
N/A
2019-0355154
Fee Simple
N/A
N/A
N/A
No
Price per Sq.Ft.:

Price per Acre:

Sale Price per Potential Building
Area:Price per Unit:

Cost to Finished Lot (per Unit):

Price per Finished Lot:

Finished Lot to Home Price Ratio:
$4.05
$176,335
N/A
N/A
N/A
N/A
N/A
Avg. Takedown Rate per Quarter: N/A
Escalator Amount: N/A
Rolling Options
Unentitled R-3 LandProperty Name:

SEC Alessandro Blvd & Nason StAddress:

Moreno Valley CA 92555City, State, Zip:

RiversideJurisdiction:

Riverside-San BernardinoMSA:

Inland Empire-Moreno ValleySubmarket:

LandProperty Type:

Residential (Multi-Family) For SaleProperty Subtype:

N/AClassification:

ID: 544353
Master Plan: N/A
N/ATract/Plat Map:

Planning Area: N/A
Tax Number(s): 486-260-002,486-260-007,486-260-012,486-260-013 LAND SALE COMPARABLE 6
This is the purchase of 35.33 acres of residential land in the City of Moreno Valley CA. According to representative of the city of Moreno Valley Planning Department, there are currently no entitlements for the site

COMMENTS
Confirmed - CoStar and Public Records

VERIFICATION COMMENTS

SITE INFORMATION

VALUATION & ADVISORY
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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY)

CITY OWNED LAND ADDENDA CONTENTS

CUSHMAN & WAKEFIELD

Addendum F:

Qualifications of the Appraiser

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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY)

Jennifer A. Hafner, MAI Director
Valuation & Advisory
Cushman & Wakefield Western, Inc.

Professional Expertise
Jennifer Hafner is a Director with Cushman & Wakefield Western, Inc.’s Valuation & Advisory team, based in Ontario, California. Ms. Hafner is responsible for val uing industrial, office, retail, multifamily, and land assets within the Inland Empire market. She joined Cus hman & Wakefield in 2014 and has been appraising commercial properties in Southern California since 2005.

Experience includes valuation as signments in Southern Californi a and across the United States, as well as underwriting assignments for various CMBS investors. As signments include market and financial analysis for major income properties and pension fund portfolio valuations. Additional services provided include site inspections for lending and securitizatio n. Property types include retail, office, industrial and multifamily. Retail property experience includes freestanding specialty retail, community centers and neighborhood centers. Office and R&D experience includes CBD and suburban properties.

Industrial experience includes the analysis of large warehouse, distribution product and business parks.

Multifamily engagements include both large-scale apartment development and smaller projects.

Ms. Hafner also possesses over 12 years of experience managing projects and promotions and coordinating events in the high-tech industry. Ms. Hafner has developed strong skills in the field of sales and marketing. She has successfully helped launch new products, trained customers and grew new customer accounts. Project manage ment, event coordination and c ommunication are among her strengths.

Memberships, Licenses, Professional Affiliations and Education  Designated Member, Appraisal Institute (MAI #14343). As of the current date, Jennifer A. Hafner, MAI has completed the requirements of the continuing education program of the Appraisal Institute.  Certified General Real Estate Appraiser in the following state:
 California – AG039874
 Member, CREW Los Angeles & Inland Empire Chapters
 Member, Saint Mary’s College Alumnae
 Member, Pasadena Playhouse District
 Bachelor of Arts in Business Administration, St. Mary’s Colleg e, Notre Dame, IN

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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) CUSHMAN & WAKEFIELD 2

CALIFORNIA

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Attachment: Attachment C - Copy of Appraisal Summary (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC OPPORTUNITY) ATTACHMENT “D” TO CITY OF MORENO VALLEY
SUMMARY REPORT (GOV C 52201)

COPY OF HDL ECONOMIC IMPACT & BENEFIT ANALYSIS

[SEE ATTACHED]
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Attachment: Attachment D - Copy of HDL Economic Analysis (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC

1 Town Center Project

City of Moreno Valley

Economic Impact & Benefit Analysis and Impact
of Surplus Land Act (Affordable Housing)
Requirements on Town Center Project in
Moreno Valley, California.

February 2023

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Attachment: Attachment D - Copy of HDL Economic Analysis (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC

2 Town Center Project

OBJECTIVE
HdL ECONSolutions has updated the Economic Impact & Benefit Analysis it did in early 2020 fo r the proposed “Town Center” project by the Lewis Group of Companies (Lewis). The work originally done for the City comprehensively projected the direct and indirect revenue potential to be produced by Lewis with a proposed mixed-use project on 56.42 acres of undeveloped property owned by the City of Moreno Valley situated at the NW corner of Alessandro Boulevard and Nason Street in Moreno Valley California. To update the original analysis performed in early 2020, HdL ECONSolutions reviewed the updated deve lopment plan for the site based on the Specific Plan in process with the City of Moreno Valley, looked at changes in market conditions that would affect the proforma of the proposed project, especially development cost increases that would impact building valuation and property tax revenue, as well as sales volumes of proposed uses that would impact sales tax revenue potential.

Additionally, HdL ECONSolutions evaluated and carefully analyzed the impact to the proposed Town Center project if the residential component of the proposed was required to set aside 25% of the residential units for housing affordable to lower income households to comply with the Surplus Land Act, which analysis included the following:
• Material reduction in potential revenues to Lewis from the residential units necessary to fund the retail development and public infrastructure and public amenities. • Impact on potential revenues to be realized by the City from the proposed Town Center project.

OVERVIEW OF PROPOSED TOWN CENTER PROJECT
Lewis was selected by the City to develop the proposed mixed-use Town Center project to be developed on a 56.42-acre undeveloped property owned by the City of Moreno Valley situated at the NW corner of Alessandro Boulevard and Nason Street in Moreno Valley CA. The site is located nearly at the geographic center of the City of Moreno Valley in an area the City of Moreno Valley has designated as the Downtown Center in the City’s General Plan. The Downtown Center is envisioned as the City’s premiere economic development area with dynamic mixed-use destinations and amenities that draw local residents from Moreno Valley and visitors from the wider region.

The City of Moreno Valley has long envisioned the 56.42 -acre site to be a quality mixed-use development with a non-residential component comprised of office, retail, restaurant, and commercial uses as well as a hotel for transient occupancy use as described in Chapter 3.24 Transient Occupancy Tax of the Moreno Valley Municipal Code. The City refers to this project as its “Town Center.” The non- residential component would also include all ancillary landscaping, parking amenities and public elements such as parks, open space, paseos, connectivity corridors, plazas and other public gathering spaces and related public improvements consistent with the requirements of the Downtown Center zoning. The development would also include a residential component of between 300 and 700 residential units. The Town Center project is intended to be developed with 40% non-residential uses and 60% residential uses.

Lewis is also responsible for constructing all public infrastructure including but not limited to, sewer, water, reclaimed water, storm drains and street improvements required to service the Tow n Center project. As a condition to purchasing the property, Lewis is required to set aside 40,000 square feet of F.1.g
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Attachment: Attachment D - Copy of HDL Economic Analysis (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC

3 Town Center Project
improved land, at no cost to the City, for construction of a future innovation tech library or other civic use. Other City conditions for the Town Center project include the right to lease up to 1,400 square feet of office space for a police substation with discounted common area maintenance charges, advertising signage on the 60 freeway, a major project amenity of not less than $2,000,000 in v alue and a City approved public art component.

The current plan for the Town Center project provides for construction of a 222,000 square foot commercial center on 16 acres including the civic use mentioned above, a 106 -room hotel, a market, a fitness health club and a mix of retail and restaurant tenants. Lewis is currently proposing 554 residential units on 36 acres, with parks, and recreational elements on the remaining 4.8 acres.

ECONOMIC IMPACT AND BENEFIT ANALYIS OF THE PROPOSED TOWN

CENTER PROJECT
An analysis was performed to assess the economic benefits of the proposed Town Center project. The

56.42-acre site is nearby to Riverside University Medical Center and Kaiser Permanente Hospital, both of which are underway with major expansion projects. Approximately 60% of the site has been designated for residential use currently planned to include 278 apartments and 271 homes for sale.

The remaining 40% of the project site is planned to include a market, a health club, retail, restaurant, and office uses as well as a hotel. The entire project cost (total building valuation), not including land, is estimated at over $ 301,000,000. The annual economic benefit to the City of Moreno Valley is estimated to exceed $2 million, with that number growing to nearly $3.3 million by year 25 (with 2% compounded annual growth rate).

Over a 25 -year period, assuming a 2.0% escalator, the City would collect a projected $64,688,974 in tax revenues from the Project.

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Attachment: Attachment D - Copy of HDL Economic Analysis (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC

4 Town Center Project
Direct Revenues

Use Bldg. SF Sales/SF Annual
Sales
Annual Sales Tax
Revenue
Total Bldg.

Valuation Property Tax
Library/Civic 30,000 $9,300,000
Market 45,000 $1,000 $45,000,000 $450,000 $13,950,000 $23,157 Retail 39,290 $500 $19,645,000 $196,450 $12,179,900 $20,219 Restaurant 21,160 $760 $16,081,600 $160,816 $6,559,600 $10,889 Fitness 30,000 $8 $225,000 $2,250 $9,300,000 $15,438 165,450 $80,951,600 $809,516 $51,289,500 $69,703 Use Units P/HH Total
Residents Cost/Unit Total Valuation Property Tax
MFR 278 3.74 1,040 $410,000 $113,980,000 $189,207 For- Sale Homes 271 3.74 1,013 $445,000 $120,595,000 $200,188 Use Total Rooms Cost/Room Total Cost Occupancy Annual Room Sales
Annual TOT
Revenue Property Tax
Upscale 106 $200,000 $21,200,000 80% $4,333,280 $563,326 $35,192 Use Units Spending/HH Total HHS Percentage
Spending
Total Taxable
Spending
Sales Tax
Generated
MFR 278 $19,508 $5,423,298 70% $3,796,308 $37,963
For-Sale Homes 271 $19,508 $5,286,740 70% $3,700,718 $37,007 Use Employees Annual
Spending
Percentage
Spending
Total Taxable
Spending
Sales Tax
Generated
Library/ Civic 30 $227,760 $159,432 $1,594
Market 75 $569,400 $398,580 $3,986
Retail 60 $455,520 $318,864 $3,189
Restaurant 100 $759,200 $531,440 $5,314
Fitness 20 $151,840 $106,288 $1,063
285 $2,163,720 $1,514,604 $15,146
70%
Sales Tax Revenue - By Resident
Sales Tax Revenue - by Employees
Hotel Component
Commercial Component
Residential Component
Based on SiteSeer demographics,
the City of Moreno Valley averages

3.74 pers ons per household and
has an average disposable income
of $85,411 of which HdL
ECONSolutions estimates 30% will
be us ed for household s pending. Of
that 70% is potentially taxable.

Similarly, employee spending is
approximately $146 per week or
$7,592 annually. Of which 70% is
potentially taxable and spent in
Property tax revenue is based on 16.6% share of the City's 1% property tax collected using a total project valuation of $175,240,000 F.1.g
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Attachment: Attachment D - Copy of HDL Economic Analysis (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC

5 Town Center Project

Residential direct employment is determined using the multiplier 2.97 times the number of proposed residential units and residential indirect construction employment is expressed using the multiplier 1.13 ‐ sourced from an Economic and Housing Policy analysis by the National Association of Home Builders (NAHB). Jobs are given in full‐time equivalents. Full‐time equivalent is defined as enough work to keep one worker employed for a full year based on average hours worked per week in the relevant industry.

Total employee spending is based on ICSC 2013 Study which determined that the average employee spends $146 per week (not including spending on transportation and online sales). Total impact (employee/spending) is calculated using 2019 dollars considering the total estimated employees within each project. Additionally, Annual Direct & Annual Indirect spending has been factored for weekly spending multiplied by 52 weeks per year and does not consider holidays/vacations etc.

Sales tax gen erated by construction employees and indirect employees (those providing ongoing maintenance) captured by the City is based on the assumption that 70% of the total spending is on taxable items and of that 30% is spent in the City of Moreno Valley.

The following is a summary of revenue to be produced by the proposed Town Center project including direct and indirect revenues.

Use Units
Direct Residential
Construction
Employment Impact
Indirect Residential
Employment Impact
Annual Direct
Residential
Construction
Employee
Spending
Annual Indirect
Residential
Employee
Spending
MFR 278 826 314 $6,268,411 $2,384,951 $146
For-Sale Homes 271 805 306 $6,110,573 $2,324,898 1.13
TOTAL 549 1631 620 $12,378,984 $4,709,849 1.8175

2.97 1%
Direct Residential
Construction
Employment Impact
Indirect Residential
Employment Impact
Percentage of
Taxable Spending
in the City
Sales Tax
Generated 2.2069
$2,599,587 $989,068 $3,588,655 $35,887
Use
Commercial
Construction
Employment
Indirect Commercial
Employee Impact
Annual Commercial
Construction
Employee Spending
Annual Indirect
Commercial
Employee
Spending
Potential Sales
Tax Generated
Retail 518 1143 $825,838 $1,822,542 $26,484
Sales Tax - By Indirect Employees - Commercial
Employment Economic Impact - Residential
Sales Tax - by Direct and Indirect Employees - Residential F.1.g
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Attachment: Attachment D - Copy of HDL Economic Analysis (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC 6 Town Center Project

Sales tax revenue generated by employment within the proposed Town Center project is based on the potential spending that may happen as a result of workers and residents satisfying their daily retail needs.

This is not an endorsement of amounts but should been seen as a conservative projection of the potential revenue that could be realized from new residents and employees within the Town Center. This number will decrease as construction has completed and will only be made up of residents, direct employment and indirect employment made up of those that are providing a service or product on an ongoing basis.

This could include landscapers, plumbers, janitorial service etc.

IMPACT OF THE SURPLUS LAND ACT’S AFFORDABLE HOUSING

REQUIREMENTS
The City requested HdL ECONSolutions evaluate the financial impacts of developing the residential portion of the Town Center with no less than 25% of the units being designated as affordable pursuant to the State of California’s Surplus Land Act. Not being legal counsel, HdL ECONSolutions shall not render any opinions on the requirements contained in the Surplus Land Act, but rather provide a professional opinion on the economic impact to the City that results from having 25% of the residential units set as ide for affordable housing purposes.
$809,516
$69,703
$389,395
Hotel $35,192
Hotel $563,326
Total $1,867,131
$15,146
$26,484
$35,887
$74,970
Total $152,487
$2,019,618
Revenue Summary
Direct Revenues
Indirect Revenues
Commercial
Commercial
Residential
Total Annual Sales Tax, Property Tax and TOT Revenues
Sales Tax Revenue
Property Tax Revenue
Sales Tax Revenue
Commercial Employment
Transient Occupancy Tax Revenue
Commercial Employees
Residential Employment
Residential Resident
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Attachment: Attachment D - Copy of HDL Economic Analysis (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC

7 Town Center Project
As highlighted in the previous section of this report, the Town Center project as proposed offers significant positive economic opportunities and benefits to the City of Moreno Valley in the form of creating a higher- end development, along with significant projected revenues to the City of Moreno Valley through increased sales tax, property tax and transient occupancy tax (TOT) . To require that 25% of the planned 549 residential units be used for the development of affo rdable housing would materially diminish the types and quality of possible users to be secured with the 26.42 -acres to be developed with commercial related uses including a mix of retail and restaurant uses, market, health club and an upscale hotel use.

Developing affordable housing within the Town Center likely significantly impacts the attraction of a higher-end hotel and may prevent securing any commitment from a possible hotel user.

Inserting the 25% affordable housing component into the Town Center project thereby reducing the planned number of market rate units will reduce the overall viability of the project from a proforma standpoint and the necessary return on investment for a new project of this type as proposed by Lewis.

While the land area of The Town Center project is split 60% residential / 40% non-residential, the proforma revenues from 549 market-rate residential units together with CFD proceeds on the for-sale (market rate) units accounts for approximately 80% of projected revenues to Lewis . With CFD proceeds included, residential land provides a much higher value per improved acre than non -residential land. These resulting increased revenues from the sales /lease of the market rate residential units are essential for Lewis to finance the construction of the necessary public improvements and major public amenities required in the Town Center and to subsidize the Developer’s costs of developing the Retail/Commercial and Hotel components of the Town Center Project in order for the Retail/Commercial and Hotel components to operate profitably . The financial impacts of the inclusion of affordable housing in the Town Center project are significant. Assuming 25% of the for sale residential portion of the Town Center project is affordable housing, total residential proforma revenues would be reduced by approximately 12%. In addition, available CFD proceeds would be reduced significantly by 39% resulting in an overall 16% reduction in project revenues to Lewis . In part, this is because the affordable housing developer would pay no costs of the backbone infrastructure and site improvements required to construct the affordable units. In the ca se of the Town Center project, these costs would need to be funded by the remaining market rate housing, materially reducing funds necessary to construct the public improvements and major public amenities required to develop the entirety of the Town Center. This substantial loss of residential revenues exceeds projected profits the result of which are unsustainable operating losses rendering the entire Town Center project infeasible for Lewis or any other developer to develop.

More importantly the 25% reduction in the market -rate residential units to satisfy the affordability requirement will cause a significant decrease in possible new annual revenue generation for the City through enhanced sales tax, property tax and TOT revenues. HdL ECONSolutions su ggests that the projected estimate of more than $2.01 million in new annual revenue through sales tax, property tax and TOT could be reduced by 40% to maybe 50% or even more, if the 25% affordable housing requirement is required. Furthermore, HdL ECONSolut ions believes the economic viability of the proposed commercial development component (retail and restaurant uses, and an upper end hotel) is significantly impacted with the incorporation of affordable housing into the project.

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Attachment: Attachment D - Copy of HDL Economic Analysis (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC

8 Town Center Project

SUMMARY
HdL ECONSolutions has carefully analyzed and evaluated the possibility of requiring 25% of the residential units be designated for affordable housing purposes for low -income users. HdL ECONSolutions believes the impact would be significant on the viability of the entire Town Center project. Potential new revenue opportunities to the City of Moreno Valley from enhanced sales tax, property tax and TOT revenue would be reduced by 40% to 50% . Furthermore, the inclusion of 25% of the residential units to be affordable for low-income residents materially reduces the proforma residential revenues and CFD proceeds to Lewis causing the overall Town Center project to be infeasible for Lewis or any other developer to develop.

ABOUT HdL ECONSolutions

HdL Companies (HdL) is 40-year-old consulting business based in Brea California and with other California offices in Fresno and Pleasanton, as well as offices in Texas, Colorado, Alabama, Georgia, and No rth Carolina. HdL has more than 400 local government clients in California and offers a full range of consulting services including sales tax, property tax, business license management, cannabis support and economic development.

In 2014, HdL formed HdL ECONSolutions to provide a variety of economic development related products and services in further serving local governments. In nearly 9 years, HdL ECONSolutions has worked for 180 local governments, plus many private sector developers on a full range of economic development related services. Presently, HdL ECONSolutions is presently working for 32 clients. Some of the services HdL ECONSolutions provides includes the following:

• INSIGHT Market Analytics
• Community Profile
• Trade Area & Void Analysis
• Site Selection Assistance
• Retail Attraction Support
• Economic Development Action Plan
• Retail Performance Assessment
• Hotel Market Study
• Market Study
• Financial Impact Analysis & Revenue Projections
• Reuse & Redevelopment Study
• Highest & Best Use Assessment
• Administrative Support of ARPA Business Assistance Programs • Community E-Gift Card Programs (in partnership with Yiftee)

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Attachment: Attachment D - Copy of HDL Economic Analysis (6402 : PUBLIC HEARING – TOWN CENTER PROJECT ECONOMIC

Report to City Council

ID#6400 Page 1
TO: Mayor and City Council

FROM: Jane Halstead, CMC, City Clerk

AGENDA DATE: September 19, 2023

TITLE: OFFICE OF THE MAYOR AND CITY COUNCIL

SPONSORSHIP PROGRAM

RECOMMENDED ACTION
Recommendation:

1. That the City Council approve the annual $60,000.00 Office of the Mayor and City Council Sponsorship Program.

SUMMARY/DISCUSSION
Mayor Cabrera and Mayor Pro Tem Delgado have requested th e following proposed $60,000 annual sponsorship events and programs be presented to the City Council for its consideration.

Policy 2.13 City Sponsorship outlines the criteria that must be met by any person or entity requesting City sponsorship, which usually includes submitting a Sponsorship application to the City Manager, who may defer the request to the City Council.

However, the Sponsorship Program has already been budgeted for the 2024/25 fiscal year budget, no applications will be required.

The proposed sponsorship contributions are as follows:

ONE-TIME ANNUAL EVENT SPONSORSHIPS
Riverside University Health System Medical Center - Festival of Trees Gala $9,500.00 Riverside Drive March Air Reserve Base - Air & Space Expo $5,000.00 Southwest Veterans' Business Resource Center, Inc. - Veteran & Small Business Summit $3,300.00 Riverside Sheriff’s Association - Desert Willow Charity Golf Tournament $2,500.00 Think Together - Raise a Hand for Education Benefit $2,500.00 H.1
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Riverside University Health System Foundation - Pinwheels for Prevention $2,500.00 Veteran Supplemental Support Network - Daisy Walk for Military and Veteran Suicide Prevention
$2,500.00
Riverside County Workforce Development Board - Jamil Dada Character Excellence Youth Awards
$2,500.00
Riverside County Sheriff's Department - Annual Award Ceremony $1,000.00

ORGANIZATION SPONSORSHIPS
Moreno Valley & Val Verde Unified School District | Student of the Month Program $5,000.00 Moreno Valley Community Band (MVCB)/Wind Symphony $5,000.00 Pacific Crest Youth Arts Organization SoCal Drum Corps $2,500.00 Building Up Lives Foundation $2,000.00
Power Speaks Louder $2,000.00
Inland Compassion $2,000.00
Support Move & Groove For Health $2,000.00
Unity of The Faith Christian Outreach Ministries Inc. $2,000.00 The Hole In Wall Inc. $1,000.00
Imani Praise Fellowship $2,000.00
Rising Stars Business Academy YouthBuild $1,000.00
Edgemont Women's Club $1,000.00
Moreno Valley Trailseekers $500.00
San Gorgino Girls Scouts $500.00
Total: $59,800.00

ALTERNATIVES

1. Approve as recommended. Staff recommends this alternative.

2. Do not approve as recommended but provide an alternative direction to staff.

Staff recommends this alternative.

FISCAL IMPACT

The various sponsorship are budgeted, the above list has no additional fiscal impact to the City.

NOTIFICATION

Publication of the Agenda.

PREPARATION OF STAFF REPORT

Prepared By: Department Head Approval:

Name Jane Halstead Name Jane Halstead
Title Manager of the Office of Mayor and City Council/City Clerk Title Manager of the Office of Mayor and City Council/City Clerk

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CITY COUNCIL GOALS
None

CITY COUNCIL STRATEGIC PRIORITIES

1. Economic Development

2. Public Safety

3. Library

4. Infrastructure

5. Beautification, Community Engagement, and Quality of Life

6. Youth Programs

ATTACHMENTS
To view large attachments, please click your “bookmarks” on the left hand side of this document for the necessary attachment.

1. Policy #2.13

APPROVALS

Budget Officer Approval ✓ Approved . 9/14/23 8:11 AM City Attorney Approval ✓ Approved .

City Manager Approval ✓ Approved . 9/14/23 8:56 AM H.1
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City of Moreno Valley General Management
Policy 2.13

Page 1 of 4 ends

CITY SPONSORSHIP

Approved by: City Council
9/24/02
Revised: 11/25/08
PURPOSE: City sponsorship is provided for the purpose of aiding eligible organizations in providing worthwhile community events by paying a portion of the costs and receiving positive publicity for the City. The purpose of this policy is to set forth crit eria to be met by the applicant prior to consideration of the request for sponsorship, as well as policies and procedures to be followed by the City in acting on the request for sponsorship.

POLICY:

I. Sponsorship

The City of Moreno Valley receives numerous requests to sponsor or co-sponsor events, activities, individuals or groups. The City has limited resources available for these sponsorship opportunities. For that reason, it is the City’s policy to only sponsor or co-sponsor cultural or recreational events provided to the community by non- profit organizations existing pursuant to Internal Revenue Code Section 501(c)(3) or (4) that are located within the City. Sponsorship is a discretionary act of the City that confers no legal rights in the sponsorship proceeds or assistance prior to actual delivery by the City. No organization shall receive any City sponsorship proceeds or assistance unless and until it meets all of the criteria and satisfies all of the conditions contained within this policy and said sponsorship requester has submitted a completed application packet to the satisfaction of the City Manager. Upon approval of the Sponsorship Application packet, the sponsorship request will be forwarded to the City Council for review and consideration.

II. Organization Eligibility

Criteria for organization eligibility for City sponsorship is as follows:

A. Applicant must be organized and existing pursuant to Internal Revenue Code Section 501(c)(3) or (4).

B. Applicant must have as its primary purpose charity, youth development, cultural enrichment, or civic improvement.

C. Applicant must be located within the City and providing services or benefits to the community.

D. Applicant must complete and comply with the application process.

E. Applicant must demonstrate a need for City sponsorship.

F. Past events by the applicant must have complied with City requirements and have been free of significant problems.

G. Applicant must have a valid City Business License.

III. Event Eligibility

Criteria for event eligibility are as follows:

A. Fundraising shall not be the primary purpose of the event.

B. Cultural or recreational events only.

C. Past similar events by the applicant must have complied with City requirements and have been free of H.1.a
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Attachment: Policy #2.13 (6400 : OFFICE OF THE MAYOR AND CITY COUNCIL SPONSORSHIP PROGRAM) City of Moreno Valley General Management
Policy 2.13

Page 2 of 4 ends

CITY SPONSORSHIP

Approved by: City Council
9/24/02
Revised: 11/25/08
significant problems.

D. Open to the general public without qualification and must be widely publicized.

E. Located within the City including the City sphere of influence March Air Reserve Base, March Joint Powers Authority property, and Box Springs Park.

IV. Sponsorship Limitations

Sponsorship proceeds or assistance shall not result in any money being actually given to or paid in behalf of the event organizer. Sponsored events will only receive a “line of credit” with the City that will allow the group to receive credits of City costs up to the designated amount of the sponsorship for the event. Eligible City costs that can be offset by the sponsorship proceeds or assistance up to the maximum amount of the sponsorship are limited to the following:

A. Mobile stage rental. (A monetary deposit by the applicant will be required.)

B. Facility rental. (A monetary deposit by the applicant will be required.)

C. Light or electric pole use in City parks.

D. City Permits.

E. Public Safety Services.

F. City Staff.

V. Sponsorship Amounts

The amount of sponsorship proceeds or assistance shall be determined as follows:

A. Depending on availability of resources, the City will budget $5,000 per fiscal year to be used for sponsorship opportunities.

B. The maximum sponsorship for any qualified organization and event shall not exceed $2,500 per fiscal year.

C. The maximum amount of sponsorship shall be directly proportional to the total attendance of the public at the sponsored event as follows:

1. 250 - 500 in attendance = $500 per event.

2. 501 - 750 in attendance = $750 per event.

3. 751 - 1,000 in attendance = $1,000 per event.

4. Over 1,001 in attendance = $2,500 per event.

In no case shall the sponsorship amount exceed fifty percent (50%) of the funds raised for the event.

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Attachment: Policy #2.13 (6400 : OFFICE OF THE MAYOR AND CITY COUNCIL SPONSORSHIP PROGRAM) City of Moreno Valley General Management
Policy 2.13

Page 3 of 4 ends

CITY SPONSORSHIP

Approved by: City Council
9/24/02
Revised: 11/25/08
D. Sponsorship amounts or assistance shall not be utilized to cover the cost of insurance.

VI. Application Process

A. Submit a completed City application (Attachment A) for sponsorship at least 90 calendar days prior to the event date. Failure to comply with this requirement shall be automatic ground s for denying sponsorship. The application shall include a detailed description or listing of the estimated funds, in- kind donations and/or other assistance the organization will receive to support the organization and/or event.

B. A completed application means completion of the City application for sponsorship, attachment of all required additional documentation, payment of all fees, if applicable, and submission of whatever other information and/or documentation that may be requested by the City to make an informed decision.

C. Incomplete applications shall not be eligible for City sponsorship.

D. Applicants shall receive a copy of this policy at the time an application is made to the City.

VII. Approval

A. A determination shall be made by the City Manager or his/her designee, within 30 calendar days after submission of an application for sponsorship as to its completeness.

B. The City Manager shall refer the request for sponsorship to the City Council for determination.

Determinations on requests for sponsorship shall be made within 30 calendar days after submission of a completed application.

C. All decisions of the City Council regarding sponsorship shall be final.

VIII. Other Requirements

A. Applicant must agree in writing to defend and indemnify the City, the Moreno Valley Community Services District, the Community Redevelopment Agency of the City of Moreno Valley and their officers, employees and agents from and against any and all liability and claims of liability arising out of or otherwise arising from the event.

B. Applicant shall submit to the City at least 10 calendar days prior to the event an event implementation plan, if requested by the City. The event implementatio n plan shall address in detail all issues requested by the City.

C. Applicant shall agree to list the City of Moreno Valley as an official sponsor of the event in all promotion of the event. Failure to do so shall result in termination of the sponsorship and repayment to the City the monetary value of all sponsorship proceeds or assistance delivered to the applicant or for the event.

D. Applicant shall coordinate and work directly with the City Manager or his/her designee for use of the City name and City logo.

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Attachment: Policy #2.13 (6400 : OFFICE OF THE MAYOR AND CITY COUNCIL SPONSORSHIP PROGRAM) City of Moreno Valley General Management
Policy 2.13

Page 4 of 4 ends

CITY SPONSORSHIP

Approved by: City Council
9/24/02
Revised: 11/25/08
E. Applicant must have adequate public liability and other necessary insurance for the event as required by and in accordance with City insurance requirements or as otherwise determined necessary by the City Risk Manager.

F. All insurance must be issued by a company authorized and licensed to do business within the State of California and has a Best’s Insurance Rating of A-, VII, or better to be acceptable to the City.

G. City, the Moreno Valley Community Services District, the Moreno Valley Community Redevelopment Agency, and their officers, employees, and agents must be named as additional insured on all policies of insurance.

H. Applicant must provide City with insurance certificates and valid additional insured endorsements or other appropriate insurance binder 15 calendar days prior to the date of the sponsored event.

I. Applicant shall provide the City with a detailed accounting of all expenses and funds, in -kind donations, and/or other assistance collected for the organization and/or event within 90 days following the event. Failure to provide the required information would deem the organization and/or event ineligible for City sponsorship in the future.

IX. Sponsorship Not Subject To This Policy

This policy shall not apply to events or organizations that are specifically budgeted for in the City’s Annual Budget.

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Attachment: Policy #2.13 (6400 : OFFICE OF THE MAYOR AND CITY COUNCIL SPONSORSHIP PROGRAM)

Moreno Valley City CouncilSeptember 19, 2023

Moreno Valley City Council
September 19, 2023