Attachment 4f - CHB Staff Report 4-15-2026 — Riverside City Council, July 28, 2026

BASIS OF ESTIMATE

ESTIMATE MARK UPS
The following markups are included in this estimate:
1) General Conditions 11.81%
2) Overhead and Profit (OH&P) 9.00%
3) Bonds & Insurance 3.00%
4) Design Contingency 20.00%
5) Escalation to MOC, 07/31/26 4.29%

EXCLUSIONS
The following items are excluded in this estimate.
1)
2)
3)
4)
5)
6)
7) Soft costs.
8) Off-site work
9)
10)
11)

ITEMS AFFECTING COST ESTIMATE
Items that may change the estimated construction cost may include but are not limited to the following:
1) Unforeseen existing building and site condition.
2)
3) Sole source procurement.
4) Any changes or delay from the projected construction schedule. 5) Availability of skilled labor force to execute the specific detailing.

CLARIFICATIONS
1)
2)
3)

INTRODUCTION
This Cost Estimate is based on existing photographs and reports (historical assessment, hazardous abatement, etc.) prepared by others, dated 09/11/2025, provided by SGH Architects to HLCM, along with verbal and written guidance from the design team. There are no detailed public record plans available.

Professional fees, inspections and testing.

Construction/Owner's contingency costs.

Construction management fees.

Plan check fees and building permit fees.

FF and E, unless specifically referenced in this estimate.

Escalation beyond the midpoint of construction.

This estimate assumes the use of prevailing wages. This estimate also includes a factor for PLA.

This estimate is based on the assumption of a competitive bid environment by a minimum of four at the Subcontractor level.

Any changes to the scope of work not included in this report. We recommend updating the estimate to capture the value of any changes.

This estimate does not include the prequalification process for Contractors and Subcontractors. If prequalification is implemented, it will have a cost impact on the project.

Night time and weekends work.

Accelerated construction schedule.

Temporary meeting room.

HLCM Inc. Sheet 2 of 11
Riverside county
Office of education
4472 Orange Street, Riverside, CA
Conceptual Cost Estimate 09/24/25
Base Scope Elements Area Cost / SF Total
RENOVATION OF EXISTING ASSEMBLY BUILDING 1,460 SF $1,093.37 $1,596,322 $1,596,322

CONSTRUCTION COST SUMMARY

TOTAL ESTIMATED CONSTRUCTION COST
HLCM Inc. Sheet 3 of 11
Riverside county
Office of education
4472 Orange Street, Riverside, CA
Conceptual Cost Estimate 09/24/25
Renovation of Existing Assembly Building
HLCM Inc. Sheet 4 of 11
Riverside county
Office of education
4472 Orange Street, Riverside, CA
Conceptual Cost Estimate 09/24/25
Element Gross Floor Area 1,460 SF Total Cost/SF
01 General Requirements
02 Existing Conditions $95,622 $65.49
03 Concrete
04 Masonry $3,500 $2.40
05 Metals $2,190 $1.50
06 Woods, Plastics, and Composites $200,589 $137.39
07 Thermal and Moisture Protection $94,088 $64.44
08 Openings $124,654 $85.38
09 Finishes $105,772 $72.45
10 Specialties $5,420 $3.71
11 Equipment
12 Furnishings
13 Special Construction
14 Conveying Equipment
21 Fire Suppression
22 Plumbing $52,308 $35.83
23 Heating, Ventilating, and Air Conditioning (HVAC) $25,000 $17.12 26 Electrical $212,353 $145.45
27 Communications $15,090 $10.34
28 Electronic Safety and Security $79,603 $54.52
31 Earthwork
48 Electric Power Generation
Subtotal $1,016,189 $696.02
General Conditions 11.81% $120,000 $82.19
Subtotal $1,136,189 $778.21
Overhead and Profit (OH&P) 9.00% $102,257 $70.04
Subtotal $1,238,446 $848.25
Bonds & Insurance 3.00% $37,153 $25.45
Subtotal $1,275,599 $873.70
Design Contingency 20.00% $255,120 $174.74
Subtotal $1,530,719 $1,048.44
Escalation to MOC, 07/31/26 4.29% $65,603 $44.93
TOTAL ESTIMATED CONSTRUCTION COST $1,596,322 $1,093.37
Renovation of Existing Assembly Building Summary
HLCM Inc. Sheet 5 of 11
Riverside county
Office of education
4472 Orange Street, Riverside, CA
Conceptual Cost Estimate 09/24/25
Element Quantity Unit Unit Cost Total
01 General Requirements
General requirements Included in general condition
Subtotal - General Requirements
02 Existing Conditions
Building demolition
Demolish existing exterior wall for door opening, reframe and refinish, single 1 ea $844.25 $844
Demolish exterior partition 789 sf $7.49 $5,904
Demolish interior partition 1,615 sf $6.86 $11,085
Demolish existing ceiling 1,460 sf $4.99 $7,288
Demolish existing tile flooring 63 sf $3.35 $211
Demolish existing wood flooring 1,365 sf $4.34 $5,921
Remove existing window 436 sf $7.67 $3,346
Remove existing roof 2,012 sf $2.92 $5,883
Remove & replace existing door, single 13 ea $187.54 $2,438 Miscellaneous demolition 50 hr $75.00 $3,750
Protection of existing to remain 1 ls $5,000.00 $5,000
Haul out, disposal, and dump charges 1 ls $13,000.00 $13,000 Hazmat abatement, allowance
Lead paint encapsulation 1,460 sf $7.50 $10,950
Temporary scaffolding, braces and shoring, allowance 1 ls $20,000.00 $20,000 Subtotal - Existing Conditions $95,622
04 Masonry
Repair to existing chimney 1 ls $3,500.00 $3,500
Subtotal - Masonry $3,500
05 Metals
Miscellaneous metal fabrication and supports
Miscellaneous metal fabrications 1,460 gsf $1.50 $2,190 Subtotal - Metals $2,190
Renovation of Existing Assembly Building Detail Elements HLCM Inc. Sheet 6 of 11
Riverside county
Office of education
4472 Orange Street, Riverside, CA
Conceptual Cost Estimate 09/24/25
Element Quantity Unit Unit Cost Total
Renovation of Existing Assembly Building Detail Elements 06 Woods, Plastics, and Composites
Wall framing
Exterior wall framing, 2" x 6" wood studs 789 sf $12.56 $9,902 Interior wall framing, 2" x 4" wood studs 1,615 sf $10.57 $17,067 Structural wood framing
Joist, sistered joist & fascia including wood post 2,012 sf $68.64 $138,104 Raised floor framing 876 sf $16.22 $14,212
Sheathing
Floor sheathing 876 sf $6.86 $6,013
Plywood sheathing, 15/32" 2,012 sf $4.43 $8,913
Miscellaneous
Miscellaneous rough carpentry, hardware and blocking, allowance 1,460 gsf $4.37 $6,377 Subtotal - Woods, Plastics, and Composites $200,589
07 Thermal and Moisture Protection
Roofing system
Asphalt shingles 2,012 sf $11.16 $22,457
Roof insulation
Rigid roof insulation, 5" thick 2,012 sf $7.59 $15,263
Cover board, 1/2" thick 2,012 sf $2.55 $5,126
Weather barrier 2,012 sf $0.74 $1,485
Wall insulation
Exterior, sound batt insulation, unbacked, 6" thick 789 sf $2.95 $2,329 Interior, sound batt insulation, unbacked, 4" thick 1,615 sf $2.16 $3,484 Exterior wall finish
Horizontal wood siding 789 sf $46.80 $36,902
Miscellaneous
Miscellaneous caulking and sealants, allowance 2,012 gsf $3.50 $7,042 Subtotal - Thermal and Moisture Protection $94,088
HLCM Inc. Sheet 7 of 11
Riverside county
Office of education
4472 Orange Street, Riverside, CA
Conceptual Cost Estimate 09/24/25
Element Quantity Unit Unit Cost Total
Renovation of Existing Assembly Building Detail Elements 08 Openings
Exterior glazing
Windows 436 sf $143.52 $62,575
Exterior doors
SC wood door panel with wood frame, single including hardware 1 ea $4,775.31 $4,775 Interior doors
SC wood door panel with wood frame, single including hardware 12 ea $4,775.31 $57,304 Subtotal - Openings $124,654
09 Finishes
Interior partitions
5/8" thick gypsum board, type X, finished 3,230 sf $6.18 $19,967 5/8" thick gypsum board, type X, interior of exterior, finished 1,577 sf $6.18 $9,748 Interior finishes
Floors
Carpet 1,397 sf $7.49 $10,461
Porcelain tile 63 sf $26.33 $1,659
Base
Wood base 467 lf $16.75 $7,822
Walls
Paint wall 4,807 sf $4.37 $20,997
Ceilings
Gypsum board ceilings, including framing 1,460 sf $19.06 $27,830 Paint gypsum board ceilings 1,460 sf $4.99 $7,288
Subtotal - Finishes $105,772
10 Specialties
Building specialties
Miscellaneous building specialties, wall protections, etc. 1,460 gsf $2.00 $2,920 HLCM Inc. Sheet 8 of 11
Riverside county
Office of education
4472 Orange Street, Riverside, CA
Conceptual Cost Estimate 09/24/25
Element Quantity Unit Unit Cost Total
Renovation of Existing Assembly Building Detail Elements Signage and wayfinding, allowance 1 ls $2,500.00 $2,500 Subtotal - Specialties $5,420
11 Equipment
Residential appliances Excluded
Subtotal - Equipment
21 Fire Suppression
Demo of existing sprinkler system Excluded
New sprinkler system Excluded
Subtotal - Fire Suppression
22 Plumbing
Demo of existing plumbing system 1,460 sf $13.00 $18,980 Equipment
Water heater, Insta tankless 1 ea $423.80 $424
Fixtures
Please note that the costs below include procurement, tax, freight, installation, domestic water, sewer, and waste vent piping systems along with all applicable subcontractor markups.

Water closet 2 ea $5,442.00 $10,884
Lavatory 1 ea $5,663.00 $5,663
Floor drain 1 ea $673.00 $673
Trap primer 1 ea $533.00 $533
Water hammer arrestor 1 ea $533.00 $533
Domestic water distribution
Domestic water pipe - 3/4" 30 lf $67.50 $2,025
Domestic water pipe - 1" 30 lf $81.25 $2,438
Vent pipe distribution
Vent pipe - 2 " 20 lf $66.25 $1,325
HLCM Inc. Sheet 9 of 11
Riverside county
Office of education
4472 Orange Street, Riverside, CA
Conceptual Cost Estimate 09/24/25
Element Quantity Unit Unit Cost Total
Renovation of Existing Assembly Building Detail Elements Condensate drain pipe distribution 1,460 sf $2.54 $3,701 Roof drain
Roof and over flow drain Excluded
Drainage pipe Excluded
Miscellaneous
Clean and test 1 ls $634.00 $634
Noise and vibration control 1 ls $705.00 $705
Firestopping 1 ls $775.00 $775
Seismic supports 1 ls $846.00 $846
Commissioning assistance only 8 hr $155.00 $1,240
Testing / start up / adjusting and balancing 6 hr $155.00 $930 Subtotal - Plumbing $52,308
23 Heating, Ventilating, and Air Conditioning (HVAC)
Modification of existing HVAC system for building 1 ls $25,000.00 $25,000 Subtotal - Heating, Ventilating, and Air Conditioning (HVAC) $25,000 26 Electrical
Demo / safe-off / misc. systems identification / labelling 48 hrs $145.00 $6,960 Demo of light fixtures 1,460 sf $3.72 $5,432
Service & distribution equipment
Distribution board & panel boards 1,460 sf $35.00 $51,100 Feeder for panel boards 1,460 sf $10.75 $15,694
Feeder for distribution board from point of connection 50 lf $285.60 $14,280 HVAC equipment connection 1,460 sf $10.00 $14,600
Convenience power 1,460 sf $20.67 $30,180
Lighting and lighting control 1,460 sf $40.00 $58,400
Additional electrical requirements
Seismic bracing / miscellaneous supports 1,460 sf $0.83 $1,207 HLCM Inc. Sheet 10 of 11
Riverside county
Office of education
4472 Orange Street, Riverside, CA
Conceptual Cost Estimate 09/24/25
Element Quantity Unit Unit Cost Total
Renovation of Existing Assembly Building Detail Elements Electrical temporary power / lighting 1 ls $8,500.00 $8,500 Commissioning, planning, and coordination 1 ls $6,000.00 $6,000 Subtotal - Electrical $212,353
27 Communications
Voice and data system (infrastructure only) 1,460 sf $10.34 $15,090 Audio-video system
AV equipment allowance Excluded
Public address / clock system Excluded
Subtotal - Communications $15,090
28 Electronic Safety and Security
Closed circuit television system((infrastructure only) 1,460 sf $7.44 $10,865 CCTV camera cost allowance 1 ls $12,000.00 $12,000
Access control system 1,460 sf $8.27 $12,072
Security system 1,460 sf $9.10 $13,279
Fire alarm system (complete system) 1,460 sf $21.50 $31,387 Subtotal - Electronic Safety and Security $79,603
48 Electric Power Generation
PV & BESS excluded
Subtotal - Electric Power Generation
HLCM Inc. Sheet 11 of 11

EXHIBIT B

WILKMAN HISTORICAL SERVICES
3681 SUNNYSIDE DRIVE #2772
RIVERSIDE, CA 92516-2772
951 288-1078
[email protected]
MEMO
DATE

SEPTEMBER 24, 2025
TO:

Lindsay Currier
Administrator, Facilities/Operations
Riverside County Office of Education
FROM:

Bill Wilkman
Wilkman Historical Services
RE:

Peer Review, Historic Resources
Assessment, 4472 Orange St, Riverside
CA 92501
CC:

Casey Tibbet, LSA
Belen Bobadilla, RCOE
Shara Perkins, RCOE

On July 9, 2025, the Riverside County Office of Education (RCOE) engaged my services to prepare a peer review of a Historic Resources Assessment of 4472 Orange Street, prepared by Ms. Casey Tibbet of LSA. It is my understanding that based on comments made by the Riverside Cultural Heritage Board at their June 18
th meeting Riverside staff recommended that RCOE retain a qualified architectural historian to conduct a peer review of Ms. Tibbet’s report. The focus of the peer review is to determine whether Ms. T ibbet’s evaluation of the property’s historical significance is well- supported by research and field survey observations and that her analysis follows standard best practices for such evaluations. In addition, RCOE requested that I comment on the report’s conclusions and recommendations.

Professional Qualifications
I am an architectural historian with s even years experience managing the City of Riverside’s cultural resources program and 22 years experience as the owner of Wilkman Historical Services.

I have a Masters Degree in Urban Planning with an emphasis on urban history including architectural trends at various points in urban history. I meet the Secretary of the Interior’s Professional Qualifications Standards in the fields of history and architectural history.

Peer Review
I have read Ms. Tibbet’s report and concur in its findings in reference to 4472 Orange Street in Riverside, CA. In essence, her report finds that the subject property is an outlier in relation to the Prospect Place Historic District of which it is listed as a contributor and lacks integrity because:
• The property is significantly different from the other contributors in the Prospect Place Historic District in that it lacks the urban spatial cohesiveness of the balance of the District.

Specifically, it is situated in the midst of an expansive parking lot over 70 feet from the nearest District resource with access provided by a 25 foot wide driveway. The street

4472 Orange Street Peer Review, September 24, 2025

 Page 2

widening that eliminated the curbside parkway and reduced the front setback of the subject property also negatively impacts the property’s spatial consistency with the balance of the District. Other resources in the District are largely characterized by narrow driveways, landscaped curbside parkways, and 15 to 20 foot separations from resource to resource.
• The building on the subject property has severely compromised integrity, due to damage caused by a recent fire. While the exterior appears to be relatively intact at first glance, plywood coverings mask the true extent of damage, with the interior framing and walls, floor joists, roof, and windows all sustaining major damage. The presence of an ADA - compliant ramp on the north elevation also compromises the integrity of the building. • When the Historic District was first contemplated the adjacent property at 4480 Orange Street was developed with a residence . This residence was demolished around the time the District was being formulated. The parking lot and carport that replaced the dwelling greatly disrupted the rhythm of the balance of the District. • The building on the subject property also does not qualify as a Structure of Merit, per the criteria in Riverside’s Title 20.

Conclusion and Recommendation
I agree with Ms. Tibbet’s evaluation of the 4472 Orange Street property as not significant as a contributor to the Prospect Place Historic District or as a Structure of Merit. I also agree with her recommendation to adjust the boundary of the historic district in the two locations identified in her report.

My only suggestion regarding the report is to add an exhibit consisting of historic aerial photographs focused on the subject property with adjacent properties included to provide context and illustrate the changes to the spatial relationships discussed in the report.

EXHIBIT C

CAUTION: This email originated from outside the City of Riverside. It was not sent by any City official or staff. Use caution when opening attachments or links.

Report Suspicious ‌
From: Rebecca Gross
To: Watson, Scott; Falcone, Philip
Subject: [EXTERNAL] Re: 4472 Orange St house
Date: Wednesday, October 1, 2025 11:57:26 AM
Good Day,
I live at 4493 Orange St., two houses down and across from the burned structure of concern.

While it is obvious that something needs to be done with that house, we in the neighborhood (as per comments this summer to Philip Falcone) would prefer to see it preserved, perhaps even made into a family home to complement our street consisting of 10 homes. We do not desire to see it made into more parking lot as that just gives leeway for more homeless encampments. A little park area would be nice. Or even a desirable business. But a parking lot just encroaches more upon our community, making it look less desirable.

As per the notice sent September 15, it sounds like the desire is to have it demolished, and that any demolition dust or toxins or pollutants would be exempt from the California Environmental Quality Act, thus contaminating those of us in the neighborhood as if we don’t matter. Am I reading that correctly? If so, that is not acceptable. There are elderly (up to age 94) and young children (ages 1-7) on Orange Street and the neighboring streets that make up our community.

Please give more consideration to this matter. I would appreciate a reply and correction to anything if I have misunderstood.

Thank you,
Rebecca Gross

CULTURAL HERITAGE BOARD

MINUTES

WEDNESDAY, OCTOBER 15, 2025, 3:30 P.M.

PUBLIC COMMENT IN PERSON/TELEPHONE

ART PICK COUNCIL CHAMBER
3900 MAIN STREET

APPROVED Cultural Heritage Board Minutes – October 15, 2025 1

BOARD MEMBERS
PRESENT: J. Brown, K. Castellanos, J. Sisson, A. Hudson, C. McDoniel, D. Nelson ABSENT: S. Herrera
STAFF: S. Watson, T. Torres, M. Tinio, I. De Honor

Chair McDoniel called the meeting to order at 3:31 p.m.

ORAL COMMUNICATIONS FROM THE AUDIENCE
There were no comments from the audience.

CONSENT CALENDAR
The Consent Calendar was unanimously approved as presented below affirming the actions appropriate to each item.

MINUTES
The minutes of the meeting of September 17, 2025 were approved as presented.

Motion by Board Member Brown and Seconded by Board Member Eide Nelson to approve the Consent Calendar as presented.

Motion Carried: 6 Ayes, 0 Noes, 1 Absent, 0 Abstention
AYES: Brown, Castellanos, Sisson, Hudson, McDoniel, Nelson NOES: NONE
ABSENT: Herrera
ABSTENTION: NONE

DISCUSSION CALENDAR

CONTINUED FROM JUNE 18, 2025 PLANNING CASE DP-2025-00269 – CERTIFICATE OF APPROPRIATENESS – 4472 ORANGE ST, WARD 1
Proposal by Belen Bobadilla on behalf of Riverside County of Education to consider a Certificate of Appropriateness to demolish an existing fire damages residential office structure, within the Prospect Place Historic District and designated as Structure of Merit #313. Scott Watson , Historic Preservation Officer presented the staff report. Hilary Potashner and Ben Falstein of Larson LLP presented the applicant’s presentation. The applicant stated they were in agreement with the recommended conditions of

CULTURAL HERITAGE BOARD

MINUTES

WEDNESDAY, OCTOBER 15, 2025, 3:30 P.M.

PUBLIC COMMENT IN PERSON/TELEPHONE

ART PICK COUNCIL CHAMBER
3900 MAIN STREET

APPROVED Cultural Heritage Board Minutes – October 15, 2025 2 approval. There was 1 Public Comment. Following discussion it was moved Vice Chair Sisson and seconded by Board Member Brown to: 1) Determine that the proposed request meets the Principles and Standards of Site Development and Design findings, provided in Section 20.25.050.A of the Riverside Municipal Code, 2) Determine that the project is exempt from the California Environmental Quality Act (CEQA) review pursuant to Sections 15061(b)(3) (General Rule) and 15301 (Existing Facilities), and 3) Approved Planning Case DP-2025-00269 (Certificate of Appropriateness) with the following added conditions:

1. Salvage: At least two weeks prior to demolition the property owner shall notify the Historic Preservation Officer and interested parties of the opportunity to salvage the c haracter defining features of the structure including but not limited to the porch columns, dormer window, eve back bracketry, and brick and foundation masonry, to the extent feasible.

Documentation of any salvage shall be provided within 12 months of demolition.

2. Any proposed future development (e.g., shade structure) of the removed structure area and/or dedesignation shall be submitted to the Cultural Heritage Board for review and consideration within twelve (12) months of the issuance of the demolition permit, or an update on the project status shall be provided to the Board within that same timeframe.

Based on the facts for findings outlined and summarized in the staff report, and subject to the recommended conditions of approval . Chair McDoniel advised of the appeal period.

The Cultural Heritage Board’s decision is final unless appealed to City Council.

Motion Carried: 6 Ayes, 0 Noes, 1 Absent, 0 Abstention
AYES: Brown, Castellanos, Sisson, Hudson, McDoniel, Nelson NOES: NONE
ABSENT: Herrera
ABSTENTION: NONE

CULTURAL HERITAGE BOARD ATTENDANCE
The Board discussed the absence of Board Member Herrera and Board Member Hudson from the September 17, 2025 regular meeting of the Cultural Heritage Board. Following discussion it was moved by Board Member Brown and seconded by Vice Chair Sisson to excuse the absence of Board Member Hudson from the Cultural Heritage Board.

Motion Carried: 6 Ayes, 0 Noes, 1 Absent, 0 Abstention
AYES: Brown, Castellanos, Sisson, Hudson, McDoniel, Nelson

CULTURAL HERITAGE BOARD

MINUTES

WEDNESDAY, OCTOBER 15, 2025, 3:30 P.M.

PUBLIC COMMENT IN PERSON/TELEPHONE

ART PICK COUNCIL CHAMBER
3900 MAIN STREET

APPROVED Cultural Heritage Board Minutes – October 15, 2025 3 NOES: NONE
ABSENT: Herrera
ABSTENTION: NONE

Following further discussion, it was moved by Vice Chair Sisson and seconded by Board Member Castellanos to continue the absence of Board Member Herrera to the next meeting.

Motion Carried: 5 Ayes, 1 Noes, 1 Absent, 0 Abstention
AYES: Brown, Castellanos, Sisson, Hudson, McDoniel,
NOES: Nelson
ABSENT: Herrera
ABSTENTION: NONE

COMMUNICATIONS

ITEMS FOR FUTURE AGENDAS AND UPDATE FROM CITY PLANNER AND BOARD MEMBERS

Maribeth Tinio, City Planner, briefed the Board on upcoming agenda items.

Mr. Watson informed the Board of the upcoming event; Doors Open Riverside on October 25, 2025 1-5pm. More information can be found on the website:
https://riversideca.gov/doorsopen/

ADJOURNMENT

The meeting was adjourned at 5:02 p.m. to the meeting of November 19, 2025 at 3:30 p.m.

Approved as presented at the November 19, 2025 meeting.

AƩachmentA:
LocaƟonMap

AƩachmentB:
CHBLeƩerofApprovaland
CondiƟons

3900 Main Street, Riverside, CA 92522 | Phone: (951) 826-5371 | RiversideCA.gov Community & Economic Development
Department
October 15, 2025
Belen Bobadilla
Riverside County Office of Education
4383 Tequesquite Ave.

Riverside, CA 92502
SUBJECT: PLANNING CASE DP-2025-00269 - CERTIFICATE OF APPROPRIATENESS – 4472 ORANGE ST, WARD 1
Dear Ms. Bobadilla:

At its meeting of October 15, 2025, the Cultural Heritage Board Approved Planning Case DP- 2025-00269 subject to the attached conditions.

There is now a ten day appeal period from the date of the Cultural Heritage Board's decision.

Appeals must be received in writing along with the required fee by 5:00 p.m. on October 27, 2025 in the Planning Division. If appealed, th e case will be scheduled for review on City Council’s agenda. If not appealed, the Cultural Heritage Board's decision is final.

Should you have any questions concerning this notice please contact Scott Watson, Historic Preservation Officer at (951) 826-5507.

Sincerely,

CULTURAL HERITAGE BOARD
Scott Watson
Historic Preservation Officer

CULTURAL HERITAGE BOARD

APPROVED CONDITIONS

Case Number: DP-2025-00269 MEETING DATE: OCTOBER 15, 2025

CASE SPECIFIC CONDITIONS

1. Within one-year of approval of a Certificate of Appropriateness, the applicant shall submit an application to dedesignate the subject property and modify the project Prospect Place Historic District Boundary to removing 4472 and 4480 Orange Street.

2. Salvage: At least two weeks prior to demolition the property owner shall notify the Historic Preservation Officer and interested parties of the opportunity to salvage the character defining features of the st ructure including but not limited to the porch columns, dormer window, eve back bracketry, and brick and foundation masonry, to the extent feasible. Documentation of any salvage shall be provided within 12 months of demolition.

3. Any proposed future development (e.g., shade structure) of the removed structure area and/or dedesignation shall be submitted to the Cultural Heritage Board for review and consideration within twelve (12) months of the issuance of the demolition permit, or an update on the project status shall be provided to the Board within that same timeframe.

GENERAL CONDITIONS

4. There is a one-year time limit in which to secure the necessary building permits required by this Certificate of Appropriateness. If unable to obtain necessary permits, a time extension request letter stating the reasons for the extension of time shall be submitted to the Planning Division. HP staff may administratively extend the term of a Certificate of Appropriateness for one year, no more than twice.

PLEASE BE ADVISED THAT THE APPLICANT WILL NOT BE NOTIFIED BY THE PLANNING DIVISION ABOUT THE PENDING EXPIRATION OF THE CERTIFICATE OF APPROPRIATENESS.

5. The project must be completed in accordance with the Cultural Heritage Board’s (CHB) Certificate of Appropriateness approval, incl uding all conditions listed. Any subsequent changes to the project must be approved by the CHB or HP staff.

6. This approval for the Certificate of Appropriateness is for design concept only and does not indicate the project has been thoroughly checked for compliance with all requirements of law. As such, it is not a substitute for the formal building permit plan check process, and other changes may be required during the plan check process.

7. Granting this Certificate of Appropriateness shall in no way exclude or excuse compliance with all other applicable rules and regulations in effect at the time this permit is exercised.

AƩachmentC:
HistoricResourcesAssessment
for4472&4480OrangeStreet

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Project
Location
San Bernardino
County
Riverside
County
ÃÃ330
ÃÃ74
ÃÃ38
ÃÃ210
ÃÃ60
ÃÃ91
Project Location
§¨¦215
§¨¦10
§¨¦15
SOURCE: USGS 7.5' Quad - Riverside West (1980), Riverside East (1980), CA I:\2024\20241943\GIS\MXD\ProjectLocation_USGS.mxd (9/30/2024) FIGURE 1
4472 Orange Street Project
Project Location and Vicinity
Project Vicinity
0 1000 2000
FEET
Project Location
15th St
Saunders St
Prospect Ave
Orange St
Lemon St
Main St
OrangeGroveAve
14th St
SOURCE: Nearmap (5/14/2024)
I:\2024\20241943\GIS\MXD\ProjectArea.mxd (9/30/2024)
FIGURE 2
4472 Orange Street Project
Project Area
07 5 1 5 0
FEET
Project Location
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ĐůĂƐƐƌĞƐĞĂƌĐŚŝŶƐƚŝƚƵƚŝŽŶ͕ĂůƐŽǁĂƐĞƐƚĂďůŝƐŚĞĚĂŶĚƚŚĞĐŝƚǇǁĂƐŽŶŝƚƐǁĂǇƚŽ ďĞĐŽŵŝŶŐƚŚĞǁŽƌůĚĐĞŶƚĞƌĨŽƌĐŝƚƌƵƐŵĂĐŚŝŶĞƌǇƉƌŽĚƵĐƚŝŽŶ͘ /ŵŵŝŐƌĂƚŝŽŶĂŶĚ
ƚŚŶŝĐŝǀĞƌƐŝƚǇ͘ƐƵĐĐĞƐƐŝŽŶŽĨĚŝǀĞƌƐĞĐƵůƚƵƌĂůŐƌŽƵƉƐǁĂƐ ďƌŽƵŐŚƚƚŽƚŚĞƌĞŐŝŽŶďǇZŝǀĞƌƐŝĚĞ͛ƐĨĂŵŽƵƐtĂƐŚŝŶŐƚŽŶEĂǀĞůKƌĂŶŐĞŝŶĚƵƐƚƌǇ͕ ĞĂĐŚǁŝƚŚƚŚĞŝƌŽǁŶƉĞƌƐƉĞĐƚŝǀĞƐĂŶĚĚƌĞĂŵƐ͘
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ĚƵĐĂƚŝŽŶ͘/ƚǁĂƐĂůƐŽĚƵƌŝŶŐƚŚŝƐƉĞƌŝŽĚƚŚĂƚƚŚĞhŶŝǀĞƌƐŝƚǇŽĨĂůŝĨŽƌŶŝĂƐĞůĞĐƚĞĚ ZŝǀĞƌƐŝĚĞĂƐƚŚĞƐŝƚĞĨŽƌĂŶƵŶĚĞƌŐƌĂĚƵĂƚĞůŝďĞƌĂůĂƌƚƐĐŽůůĞŐĞ͘hZŐƌĞǁŽƵƚŽĨdŚĞ ŝƚƌƵƐ
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WƌŽƐƉĞĐƚWůĂĐĞ,ŝƐƚŽƌŝĐŝƐƚƌŝĐƚ
ƐƐƚĂƚĞĚĂďŽǀĞ͕ƚŚĞWW,ǁĂƐŽĨĨŝĐŝĂůůǇĚĞƐŝŐŶĂƚĞĚďǇƚŚĞŝƚǇŝŶϭϵϴϲĂŶĚŚĂƐĂƉĞƌŝŽĚŽĨ ƐŝŐŶŝĨŝĐĂŶĐĞŽĨϭϴϴϳƚŽϭϵϯϭ;ƐĞĞ&ŝŐƵƌĞϯͿ͘dŚĞďŽƵŶĚĂƌŝĞƐĂƌĞŐĞŶĞƌĂůůǇKƌĂŶŐĞ'ƌŽǀĞǀĞŶƵĞ͕ WƌŽƐƉĞĐƚWůĂĐĞ͕ĂŶĚ^ƚĂĚŝƵŵǀĞŶƵĞ͕ĂůŽŶŐǁŝƚŚƉŽƌƚŝŽŶƐŽĨϭϱƚŚ^ƚƌĞĞƚ͕KƌĂŶŐĞ^ƚƌĞĞƚ͕ĂŶĚDĂŝŶ ^ƚƌĞĞƚ͘/ƚŝƐƚŚĞůĂƐƚƌĞŵŶĂŶƚŽĨĨŝǀĞĂĚũŽŝŶŝŶŐƌĞƐŝĚĞŶƚŝĂůƐƵďĚŝǀŝƐŝŽŶƐĐƌĞĂƚĞĚŝŶϭϴϴϳ;ŝƚǇŽĨ ZŝǀĞƌƐŝĚĞŶ͘Ě͘Ϳ͘dŚĞƐĞƐƵďĚŝǀŝƐŝŽŶƐǁĞƌĞsŝĐƚŽƌŝĂWůĂĐĞ͕^ĐŽƚŝĂWůĂĐĞ͕WƌŽƐƉĞĐƚWůĂĐĞ͕ĂŶĚƚŚĞ dǁŽŐŽŽĚKƌĂŶŐĞ'ƌŽǀĞdƌĂĐƚ͖ƚŚĞƐƵďũĞĐƚƉƌŽƉĞƌƚǇŝƐ>ŽƚϭϬŽĨůŽĐŬϭŽĨƚŚĞsŝĐƚŽƌŝĂWůĂĐĞ ƐƵďĚŝǀŝƐŝŽŶ͘

4472 Orange
Street
I
15th St
Saunders St
Prospect Ave
Orange St
Lemon St
Main St
OrangeGroveAve
14th St
SOURCE: Nearmap (5/14/2024); City of Riverside (2024)
I:\2024\20241943\GIS\MXD\ProspectPlaceHistoricDistrict.mxd (9/30/2024) FIGURE 3
4472 Orange Street Project
Prospect Place Historic District
07 5 1 5 0
FEET
Project Location
Prospect Place Historic District
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W͗ͰϮϬϮϰͰϮϬϮϰϭϵϰϯͲϰϰϳϮKƌĂŶŐĞ^ƚͰ,ZͲϰϰϳϮKƌĂŶŐĞ^ƚ͘ĚŽĐǆ;ϭϭͬϮϳͬϮϰͿ WŚŽƚŽϰ͘
ĂƐƚĞůĞǀĂƚŝŽŶ͕ǀŝĞǁǁĞƐƚ;ϭϬͬϳͬϮϰͿ͘&ŝƌĞĚĂŵĂŐĞǁĂƐŶŽƚĞǀŝĚĞŶƚŽŶƚŚŝƐƌĞĂƌĞůĞǀĂƚŝŽŶ͘ WŚŽƚŽϱ͘EŽƌƚŚĞůĞǀĂƚŝŽŶ͕ǀŝĞǁƐŽƵƚŚ;ϭϬͬϳͬϮϰͿ͘EŽƚĞŚŽůĞƐŝŶƚŚĞƌŽŽĨĂŶĚŵŝŶŽƌĞǀŝĚĞŶĐĞŽĨĨŝƌĞ ƵŶĚĞƌƚŚĞĞĂǀĞƐ͘

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Ϳ͘ĐĐŽƌĚŝŶŐƚŽZK
͕ŶĞĂƌůǇŚĂůĨŽĨƚŚĞǁŝŶĚŽǁƐĂƌĞďƌŽŬĞŶ͕ŝŶĐůƵĚŝŶŐƚŚĞĨĂĕĂĚĞ ǁŝŶĚŽǁƐ͘DĂŶǇŽĨƚŚĞǁŝŶĚŽǁĨƌĂŵĞƐĂůƐŽƐƵƐƚĂŝŶĞĚĨŝƌĞĚĂŵĂŐĞ͕ĂŶĚĂůůƐƵƐƚĂŝŶĞĚǁĂƚĞƌĚĂŵĂŐĞ͘ WŚŽƚŽϳ͘
ŶƚƌǇŚĂůůƚĂŬĞŶĨƌŽŵĨƌŽŶƚĚŽŽƌ
;ϮϬϮϰͿ͘

WŚŽƚŽϴ͘KĨĨŝĐĞǁŝƚŚďĂǇǁŝŶĚŽǁ;ϮϬϮϰͿ͘

ϭϲ
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dŚĞĐŽŶĚŝƚŝŽŶŽĨƚŚĞďƵŝůĚŝŶŐŝƐƉŽŽƌ͕ĂŶĚŝŶƚĞŐƌŝƚǇŝƐŝŵƉĂŝƌĞĚ͘ŚĂŶŐĞƐƚŽƚŚĞƐĞƚƚŝŶŐĂƐƐŽĐŝĂƚĞĚ ǁŝƚŚƚŚĞŽĨĨŝĐĞĐŽŶǀĞƌƐŝŽŶŚĂǀĞĚŝŵŝŶŝƐŚĞĚƚŚĞŚŝƐƚŽƌŝĐĐŚĂƌĂĐƚĞƌŽĨƚŚĞƉƌŽƉĞƌƚǇ͘ůƚŚŽƵŐŚĐĂƌĞǁĂƐ ƚĂŬĞŶƚŽƌĞƚĂŝŶƚŚĞďĂƐŝĐƌĞƐŝĚĞŶƚŝĂůĂƉƉĞĂƌĂŶĐĞŽĨƚŚĞƉƌŽƉĞƌƚǇ͕ƚŚĞƉĂƌŬŝŶŐůŽƚůĂǁŶƚŚĂƚǀŝƐƵĂůůǇ ĞǆƉĂŶĚƐƚŚĞĨƌŽŶƚǇĂƌĚĂƌĞĂ͕ƚŚĞƚƌĞĞƐƚŚƌŽƵŐŚŽƵƚƚŚĞƉĂƌŬŝŶŐůŽƚ͕ĂŶĚƚŚĞůĂƌŐĞƐĞƉĂƌĂƚŝŽŶĨƌŽŵ ŽƚŚĞƌďƵŝůĚŝŶŐƐĐĂƵƐĞƚŚĞƉƌŽƉĞƌƚǇƚŽƌĞĂĚŵŽƌĞůŝŬĞĂĨŽƌŵĞƌŐƌŽǀĞĐŽƚƚĂŐĞƚŚĂŶƚŚĞƐŵĂůůͲůŽƚƵƌďĂŶ ƉƌŽƉĞƌƚǇƚŚĂƚŝƚǁĂƐ͘dŚĞƐƉĂƚŝĂůƌĞůĂƚŝŽŶƐŚŝƉƐƚŚĂƚŝĚĞŶƚŝĨŝĞĚŝƚĂƐƉĂƌƚŽĨƚŚĞWW,ŶŽůŽŶŐĞƌĞǆŝƐƚ͘ dŚĞƉĂƌŬŝŶŐůŽƚĂŶĚƚŚĞƌĞŵŽǀĂůŽĨƚŚĞůĂŶĚƐĐĂƉĞĚƉĂƌŬǁĂǇĨƌŽŵďĞƚǁĞĞŶƚŚĞƐƚƌĞĞƚĂŶĚƐŝĚĞǁĂůŬ ĂůƐŽĐŽŶƚƌŝďƵƚĞƚŽƚŚĞďƌĞĂŬŝŶƚŚĞǀŝƐƵĂůĐŽŶƚŝŶƵŝƚǇŽĨƚŚĞWW,͘/ŶƚĞŐƌŝƚǇŽĨƚŚĞďƵŝůĚŝŶŐŝƚƐĞůĨŚĂƐ ĂůƐŽďĞĞŶĐŽŵƉƌŽŵŝƐĞĚďǇƚŚĞĨŝƌĞ͕ǁŚŝĐŚĚĞƐƚƌŽǇĞĚƚŚĞŝŶƚĞƌŝŽƌ͕ƌĞƐƵůƚĞĚŝŶƚŚĞůŽƐƐŽĨŶĞĂƌůǇŚĂůĨ ŽĨƚŚĞǁŝŶĚŽǁƐ͕ĂŶĚĚĂŵĂŐĞĚŽƚŚĞƌĞǆƚĞƌŝŽƌĨĞĂƚƵƌĞƐ͘
WƌŽƐƉĞĐƚWůĂĐĞ,ŝƐƚŽƌŝĐŝƐƚƌŝĐƚ
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ϮϬ
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s>hd/KE
ĂƐĞĚŽŶƚŚĞƌĞƐĞĂƌĐŚĂŶĚĨŝĞůĚƐƵƌǀĞǇƌĞƐƵůƚƐĚŝƐĐƵƐƐĞĚĂďŽǀĞ͕ƚŚĞĨŽůůŽǁŝŶŐƐĞĐƚŝŽŶƐƉƌĞƐĞŶƚƚŚĞ ŚŝƐƚŽƌŝĐĂůƐŝŐŶŝĨŝĐĂŶĐĞƌĞͲĞǀĂůƵĂƚŝŽŶŽĨƚŚĞƉƌŽƉĞƌƚǇĂƚϰϰϳϮKƌĂŶŐĞ^ƚƌĞĞƚĂŶĚƚŚĞĐŽŶĐůƵƐŝŽŶŽŶ ǁŚĞƚŚĞƌŝƚĐŽŶƚŝŶƵĞƐƚŽƋƵĂůŝĨǇĂƐĂ͞ŚŝƐƚŽƌŝĐĂůƌĞƐŽƵƌĐĞ͟ĂƐĚĞĨŝŶĞĚďǇ Y͘

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Y;WZŚĂƉƚĞƌϮ͘ϲ͕^ĞĐƚŝŽŶϮϭϬϴϯ͘ϮĂŶĚĂůŝĨŽƌŶŝĂŽĚĞŽĨZĞŐƵůĂƚŝŽŶƐ΀Z΁dŝƚůĞϭϰϱ͕ŚĂƉƚĞƌ ϯ͕ƌƚŝĐůĞϱ͕^ĞĐƚŝŽŶϭϱϬϲϰ͘ϱͿĐĂůůƐĨŽƌƚŚĞĞǀĂůƵĂƚŝŽŶĂŶĚƌĞĐŽƌĚĂƚŝŽŶŽĨŚŝƐƚŽƌŝĐĂůƌĞƐŽƵƌĐĞƐ͘dŚĞ ĐƌŝƚĞƌŝĂĨŽƌĚĞƚĞƌŵŝŶŝŶŐƚŚĞƐŝŐŶŝĨŝĐĂŶĐĞŽĨŝŵƉĂĐƚƐƚŽŚŝƐƚŽƌŝĐĂůƌĞƐŽƵƌĐĞƐĂƌĞďĂƐĞĚŽŶ^ĞĐƚŝŽŶ ϭϱϬϲϰ͘ϱŽĨƚŚĞ^ƚĂƚĞ
Y'ƵŝĚĞůŝŶĞƐĂŶĚ'ƵŝĚĞůŝŶĞƐĨŽƌƚŚĞEŽŵŝŶĂƚŝŽŶŽĨWƌŽƉĞƌƚŝĞƐƚŽƚŚĞ ĂůŝĨŽƌŶŝĂZĞŐŝƐƚĞƌ͘WƌŽƉĞƌƚŝĞƐĞůŝŐŝďůĞĨŽƌůŝƐƚŝŶŐŝŶƚŚĞĂůŝĨŽƌŶŝĂZĞŐŝƐƚĞƌĂŶĚƐƵďũĞĐƚƚŽƌĞǀŝĞǁ ƵŶĚĞƌ
YĂƌĞƚŚŽƐĞŵĞĞƚŝŶŐƚŚĞĐƌŝƚĞƌŝĂĨŽƌůŝƐƚŝŶŐŝŶƚŚĞĂůŝĨŽƌŶŝĂZĞŐŝƐƚĞƌ͕EĂƚŝŽŶĂůZĞŐŝƐƚĞƌ͕Žƌ ĚĞƐŝŐŶĂƚŝŽŶƵŶĚĞƌĂůŽĐĂůŽƌĚŝŶĂŶĐĞ͘
EĂƚŝŽŶĂůZĞŐŝƐƚĞƌŽĨ,ŝƐƚŽƌŝĐWůĂĐĞƐ
ĐƵůƚƵƌĂůƌĞƐŽƵƌĐĞŝƐĞǀĂůƵĂƚĞĚĨŽƌĞůŝŐŝďŝůŝƚǇĨŽƌůŝƐƚŝŶŐŝŶƚŚĞEĂƚŝŽŶĂůZĞŐŝƐƚĞƌĂĐĐŽƌĚŝŶŐƚŽĨŽƵƌ ĐƌŝƚĞƌŝĂ͘dŚĞƐĞĐƌŝƚĞƌŝĂŐĞŶĞƌĂůůǇƌĞƋƵŝƌĞƚŚĂƚƚŚĞƌĞƐŽƵƌĐĞďĞϱϬǇĞĂƌƐŽĨĂŐĞŽƌŽůĚĞƌĂŶĚƐŝŐŶŝĨŝĐĂŶƚ ĂƚƚŚĞůŽĐĂů͕ƐƚĂƚĞ͕ŽƌŶĂƚŝŽŶĂůůĞǀĞůĂĐĐŽƌĚŝŶŐƚŽŽŶĞŽƌŵŽƌĞŽĨƚŚĞĨŽůůŽǁŝŶŐ͗ Ă͘ /ƚŝƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚĞǀĞŶƚƐƚŚĂƚŚĂǀĞŵĂĚĞĂƐŝŐŶŝĨŝĐĂŶƚĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞďƌŽĂĚƉĂƚƚĞƌŶƐŽĨ ŽƵƌŚŝƐƚŽƌǇ͖
ď͘ /ƚŝƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞůŝǀĞƐŽĨƉĞƌƐŽŶƐƐŝŐŶŝĨŝĐĂŶƚŝŶŽƵƌƉĂƐƚ͖ Đ͘ /ƚĞŵďŽĚŝĞƐƚŚĞĚŝƐƚŝŶĐƚŝǀĞĐŚĂƌĂĐƚĞƌŝƐƚŝĐƐŽĨĂƚǇƉĞ͕ƉĞƌŝŽĚ͕ƌĞŐŝŽŶ͕ŽƌŵĞƚŚŽĚŽĨĐŽŶƐƚƌƵĐƚŝŽŶ͕ ŽƌƌĞƉƌĞƐĞŶƚƐƚŚĞǁŽƌŬŽĨĂŵĂƐƚĞƌ͕ŽƌƉŽƐƐĞƐƐĞƐŚŝŐŚĂƌƚŝƐƚŝĐǀĂůƵĞƐ͕ŽƌƚŚĂƚƌĞƉƌĞƐĞŶƚĂ ƐŝŐŶŝĨŝĐĂŶƚĂŶĚĚŝƐƚŝŶŐƵŝƐŚĂďůĞĞŶƚŝƚǇǁŚŽƐĞĐŽŵƉŽŶĞŶƚƐůĂĐŬŝŶĚŝǀŝĚƵĂůĚŝƐƚŝŶĐƚŝŽŶ͖ĂŶĚͬŽƌ Ě͘ /ƚŚĂƐǇŝĞůĚĞĚ͕ŽƌŵĂǇďĞůŝŬĞůǇƚŽǇŝĞůĚ͕ŝŶĨŽƌŵĂƚŝŽŶŝŵƉŽƌƚĂŶƚƚŽƉƌĞŚŝƐƚŽƌǇŽƌŚŝƐƚŽƌǇ͘ WƌŽƉĞƌƚŝĞƐƚŚĂƚĂƌĞŶŽƚϱϬǇĞĂƌƐŽĨĂŐĞŽƌŽůĚĞƌŵƵƐƚŚĂǀĞ͞ĞǆĐĞƉƚŝŽŶĂůƐŝŐŶŝĨŝĐĂŶĐĞ͟ŝŶĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚEĂƚŝŽŶĂůZĞŐŝƐƚĞƌƌŝƚĞƌŝĂŽŶƐŝĚĞƌĂƚŝŽŶƐ͘dŚĞEĂƚŝŽŶĂůZĞŐŝƐƚĞƌĂůƐŽƌĞƋƵŝƌĞƐƚŚĂƚĂƌĞƐŽƵƌĐĞ ƉŽƐƐĞƐƐŝŶƚĞŐƌŝƚǇ͕ǁŚŝĐŚŝƐĚĞĨŝŶĞĚĂƐ͞ƚŚĞĂďŝůŝƚǇŽĨĂƉƌŽƉĞƌƚǇƚŽĐŽŶǀĞǇŝƚƐƐŝŐŶŝĨŝĐĂŶĐĞ͘͟dŚĞ ĂƐƉĞĐƚƐŽĨŝŶƚĞŐƌŝƚǇĂƌĞůŽĐĂƚŝŽŶ͕ĚĞƐŝŐŶ͕ƐĞƚƚŝŶŐ͕ŵĂƚĞƌŝĂůƐ͕ǁŽƌŬŵĂŶƐŚŝƉ͕ĨĞĞůŝŶŐ͕ĂŶĚĂƐƐŽĐŝĂƚŝŽŶ͘ dŽĚĞƚĞƌŵŝŶĞǁŚŝĐŚŽĨƚŚĞƐĞĨĂĐƚŽƌƐĂƌĞŵŽƐƚŝŵƉŽƌƚĂŶƚǁŝůůĚĞƉĞŶĚŽŶƚŚĞƉĂƌƚŝĐƵůĂƌEĂƚŝŽŶĂů ZĞŐŝƐƚĞƌĐƌŝƚĞƌŝŽŶƵŶĚĞƌǁŚŝĐŚƚŚĞƌĞƐŽƵƌĐĞŝƐĐŽŶƐŝĚĞƌĞĚĞůŝŐŝďůĞĨŽƌůŝƐƚŝŶŐ͘ ĂůŝĨŽƌŶŝĂZĞŐŝƐƚĞƌŽĨ,ŝƐƚŽƌŝĐĂůZĞƐŽƵƌĐĞƐ
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W͗ͰϮϬϮϰͰϮϬϮϰϭϵϰϯͲϰϰϳϮKƌĂŶŐĞ^ƚͰ,ZͲϰϰϳϮKƌĂŶŐĞ^ƚ͘ĚŽĐǆ;ϭϭͬϮϳͬϮϰͿ ϭ͘ /ƚŝƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞĞǀĞŶƚƐƚŚĂƚŚĂǀĞŵĂĚĞĂƐŝŐŶŝĨŝĐĂŶƚĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞďƌŽĂĚƉĂƚƚĞƌŶƐ ŽĨůŽĐĂůŽƌƌĞŐŝŽŶĂůŚŝƐƚŽƌǇ͕ŽƌƚŚĞĐƵůƚƵƌĂůŚĞƌŝƚĂŐĞŽĨĂůŝĨŽƌŶŝĂŽƌƚŚĞhŶŝƚĞĚ^ƚĂƚĞƐ͖ Ϯ͘ /ƚŝƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞůŝǀĞƐŽĨƉĞƌƐŽŶƐŝŵƉŽƌƚĂŶƚƚŽůŽĐĂů͕ĂůŝĨŽƌŶŝĂ͕ŽƌŶĂƚŝŽŶĂůŚŝƐƚŽƌǇ͖ ϯ͘ /ƚĞŵďŽĚŝĞƐƚŚĞĚŝƐƚŝŶĐƚŝǀĞĐŚĂƌĂĐƚĞƌŝƐƚŝĐƐŽĨĂƚǇƉĞ͕ƉĞƌŝŽĚ͕ƌĞŐŝŽŶ͕ŽƌŵĞƚŚŽĚŽƌĐŽŶƐƚƌƵĐƚŝŽŶ͕ ŽƌƌĞƉƌĞƐĞŶƚƐƚŚĞǁŽƌŬŽĨĂŵĂƐƚĞƌ͕ŽƌƉŽƐƐĞƐƐĞƐŚŝŐŚĂƌƚŝƐƚŝĐǀĂůƵĞƐ͖ĂŶĚͬŽƌ ϰ͘ /ƚŚĂƐǇŝĞůĚĞĚ͕ŽƌŚĂƐƚŚĞƉŽƚĞŶƚŝĂůƚŽǇŝĞůĚ͕ŝŶĨŽƌŵĂƚŝŽŶŝŵƉŽƌƚĂŶƚƚŽƚŚĞƉƌĞŚŝƐƚŽƌǇŽƌŚŝƐƚŽƌǇŽĨ ƚŚĞůŽĐĂůĂƌĞĂ͕ĂůŝĨŽƌŶŝĂ͕ŽƌƚŚĞEĂƚŝŽŶ͘
/ŶĂĚĚŝƚŝŽŶƚŽŵĞĞƚŝŶŐŽŶĞŽƌŵŽƌĞŽĨƚŚĞĂďŽǀĞĐƌŝƚĞƌŝĂ͕ƚŚĞĂůŝĨŽƌŶŝĂZĞŐŝƐƚĞƌƌĞƋƵŝƌĞƐƚŚĂƚ ƐƵĨĨŝĐŝĞŶƚƚŝŵĞŚĂƐƉĂƐƐĞĚƐŝŶĐĞĂƌĞƐŽƵƌĐĞ͛ƐƉĞƌŝŽĚŽĨƐŝŐŶŝĨŝĐĂŶĐĞƚŽ͞ŽďƚĂŝŶĂƐĐŚŽůĂƌůǇƉĞƌƐƉĞĐƚŝǀĞ ŽŶƚŚĞĞǀĞŶƚƐŽƌŝŶĚŝǀŝĚƵĂůƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞƌĞƐŽƵƌĐĞ͘͟&ŝĨƚǇǇĞĂƌƐŝƐƵƐĞĚĂƐĂŐĞŶĞƌĂůĞƐƚŝŵĂƚĞ ŽĨƚŝŵĞŶĞĞĚĞĚƚŽĚĞǀĞůŽƉƚŚĞƉĞƌƐƉĞĐƚŝǀĞƚŽƵŶĚĞƌƐƚĂŶĚƚŚĞƌĞƐŽƵƌĐĞ͛ƐƐŝŐŶŝĨŝĐĂŶĐĞ;ZϰϴϱϮ ΀Ě΁΀Ϯ΁Ϳ͘
dŚĞĂůŝĨŽƌŶŝĂZĞŐŝƐƚĞƌĂůƐŽƌĞƋƵŝƌĞƐƚŚĂƚĂƌĞƐŽƵƌĐĞƉŽƐƐĞƐƐŝŶƚĞŐƌŝƚǇ͕ǁŚŝĐŚŝƐĚĞĨŝŶĞĚĂƐ͞ƚŚĞ ĂƵƚŚĞŶƚŝĐŝƚǇŽĨĂŶŚŝƐƚŽƌŝĐĂůƌĞƐŽƵƌĐĞ͛ƐƉŚǇƐŝĐĂůŝĚĞŶƚŝƚǇĞǀŝĚĞŶĐĞĚďǇƚŚĞƐƵƌǀŝǀĂůŽĨĐŚĂƌĂĐƚĞƌŝƐƚŝĐƐ ƚŚĂƚĞǆŝƐƚĞĚĚƵƌŝŶŐƚŚĞƌĞƐŽƵƌĐĞ͛ƐƉĞƌŝŽĚŽĨƐŝŐŶŝĨŝĐĂŶĐĞ͟;ĂůŝĨŽƌŶŝĂKĨĨŝĐĞŽĨ,ŝƐƚŽƌŝĐWƌĞƐĞƌǀĂƚŝŽŶ ϭϵϵϵ͗ϮͿ͘dŽƌĞƚĂŝŶŝŶƚĞŐƌŝƚǇ͕ĂƌĞƐŽƵƌĐĞƐŚŽƵůĚŚĂǀĞŝƚƐŽƌŝŐŝŶĂůůŽĐĂƚŝŽŶ͕ĚĞƐŝŐŶ͕ƐĞƚƚŝŶŐ͕ŵĂƚĞƌŝĂůƐ͕ ǁŽƌŬŵĂŶƐŚŝƉ͕ĨĞĞůŝŶŐ͕ĂŶĚĂƐƐŽĐŝĂƚŝŽŶ͘tŚŝĐŚŽĨƚŚĞƐĞĨĂĐƚŽƌƐŝƐŵŽƐƚŝŵƉŽƌƚĂŶƚĚĞƉĞŶĚƐŽŶƚŚĞ ƉĂƌƚŝĐƵůĂƌĐƌŝƚĞƌŝŽŶƵŶĚĞƌǁŚŝĐŚƚŚĞƌĞƐŽƵƌĐĞŝƐĐŽŶƐŝĚĞƌĞĚĞůŝŐŝďůĞĨŽƌůŝƐƚŝŶŐ;ĂůŝĨŽƌŶŝĂKĨĨŝĐĞŽĨ ,ŝƐƚŽƌŝĐWƌĞƐĞƌǀĂƚŝŽŶϭϵϵϵͿ͘
ŝƚǇŽĨZŝǀĞƌƐŝĚĞ
dŝƚůĞϮϬƵůƚƵƌĂůZĞƐŽƵƌĐĞƐŽĨƚŚĞŝƚǇ͛ƐDƵŶŝĐŝƉĂůŽĚĞƉƌŽǀŝĚĞƐĐƌŝƚĞƌŝĂĨŽƌƚŚĞĚĞƐŝŐŶĂƚŝŽŶŽĨ >ĂŶĚŵĂƌŬƐ͕,ŝƐƚŽƌŝĐŝƐƚƌŝĐƚƐ͕^ƚƌƵĐƚƵƌĞƐŽĨDĞƌŝƚ͕ĂŶĚWŽŝŶƚƐŽĨƵůƚƵƌĂů/ŶƚĞƌĞƐƚ;ŝƚǇŽĨZŝǀĞƌƐŝĚĞ ϮϬϭϴͿ͘ĞĐĂƵƐĞƚŚĞƉƌŽƉĞƌƚǇŝƐǁŝƚŚŝŶĂĚĞƐŝŐŶĂƚĞĚŚŝƐƚŽƌŝĐĚŝƐƚƌŝĐƚ͕ƚŚĞŚŝƐƚŽƌŝĐĚŝƐƚƌŝĐƚĐƌŝƚĞƌŝĂŝƐŶŽƚ ďĞŝŶŐĐŽŶƐŝĚĞƌĞĚĂƐƉĂƌƚŽĨƚŚŝƐƐƚƵĚǇ͘dŚĞ>ĂŶĚŵĂƌŬ͕^ƚƌƵĐƚƵƌĞŽĨDĞƌŝƚ͕ĂŶĚWŽŝŶƚŽĨƵůƚƵƌĂů /ŶƚĞƌĞƐƚĐƌŝƚĞƌŝĂ͕ůŝƐƚĞĚďĞůŽǁ͕ĂƌĞĂƉƉůŝĐĂďůĞ͘
>ĂŶĚŵĂƌŬƌŝƚĞƌŝĂ͘ƐĚĞĨŝŶĞĚďǇdŝƚůĞϮϬ;ϮϬ͘ϱϬ͘ϬϭϬͿ͕Ă>ĂŶĚŵĂƌŬŝƐĂŶǇŝŵƉƌŽǀĞŵĞŶƚŽƌŶĂƚƵƌĂů ĨĞĂƚƵƌĞƚŚĂƚŝƐĂŶĞǆĐĞƉƚŝŽŶĂůĞǆĂŵƉůĞŽĨĂŚŝƐƚŽƌŝĐĂů͕ĂƌĐŚĂĞŽůŽŐŝĐĂů͕ĐƵůƚƵƌĂů͕ĂƌĐŚŝƚĞĐƚƵƌĂů͕ ĐŽŵŵƵŶŝƚǇ͕ĂĞƐƚŚĞƚŝĐŽƌĂƌƚŝƐƚŝĐŚĞƌŝƚĂŐĞŽĨƚŚĞŝƚǇ͕ƌĞƚĂŝŶƐĂŚŝŐŚĚĞŐƌĞĞŽĨŝŶƚĞŐƌŝƚǇĂŶĚŵĞĞƚƐ ŽŶĞŽƌŵŽƌĞŽĨƚŚĞĨŽůůŽǁŝŶŐĐƌŝƚĞƌŝĂ͗
ϭ͘
ǆĞŵƉůŝĨŝĞƐŽƌƌĞĨůĞĐƚƐƐƉĞĐŝĂůĞůĞŵĞŶƚƐŽĨƚŚĞŝƚǇΖƐĐƵůƚƵƌĂů͕ƐŽĐŝĂů͕ĞĐŽŶŽŵŝĐ͕ƉŽůŝƚŝĐĂů͕ ĂĞƐƚŚĞƚŝĐ͕ĞŶŐŝŶĞĞƌŝŶŐ͕ĂƌĐŚŝƚĞĐƚƵƌĂů͕ŽƌŶĂƚƵƌĂůŚŝƐƚŽƌǇ͘ Ϯ͘ /ƐŝĚĞŶƚŝĨŝĞĚǁŝƚŚƉĞƌƐŽŶƐŽƌĞǀĞŶƚƐƐŝŐŶŝĨŝĐĂŶƚŝŶůŽĐĂů͕ƐƚĂƚĞŽƌŶĂƚŝŽŶĂůŚŝƐƚŽƌǇ͘ ϯ͘
ŵďŽĚŝĞƐĚŝƐƚŝŶĐƚŝǀĞĐŚĂƌĂĐƚĞƌŝƐƚŝĐƐŽĨĂƐƚǇůĞ͕ƚǇƉĞ͕ƉĞƌŝŽĚŽƌŵĞƚŚŽĚŽĨĐŽŶƐƚƌƵĐƚŝŽŶ͕ŽƌŝƐĂ ǀĂůƵĂďůĞĞǆĂŵƉůĞŽĨƚŚĞƵƐĞŽĨŝŶĚŝŐĞŶŽƵƐŵĂƚĞƌŝĂůƐŽƌĐƌĂĨƚƐŵĂŶƐŚŝƉ͘ ϮϮ
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W͗ͰϮϬϮϰͰϮϬϮϰϭϵϰϯͲϰϰϳϮKƌĂŶŐĞ^ƚͰ,ZͲϰϰϳϮKƌĂŶŐĞ^ƚ͘ĚŽĐǆ;ϭϭͬϮϳͬϮϰͿ ϰ͘ ZĞƉƌĞƐĞŶƚƐƚŚĞǁŽƌŬŽĨĂŶŽƚĂďůĞďƵŝůĚĞƌ͕ĚĞƐŝŐŶĞƌ͕ŽƌĂƌĐŚŝƚĞĐƚ͕ŽƌŝŵƉŽƌƚĂŶƚĐƌĞĂƚŝǀĞ ŝŶĚŝǀŝĚƵĂů͘
ϱ͘
ŵďŽĚŝĞƐĞůĞŵĞŶƚƐƚŚĂƚƉŽƐƐĞƐƐŚŝŐŚĂƌƚŝƐƚŝĐǀĂůƵĞƐŽƌƌĞƉƌĞƐĞŶƚƐĂƐŝŐŶŝĨŝĐĂŶƚƐƚƌƵĐƚƵƌĂůŽƌ ĂƌĐŚŝƚĞĐƚƵƌĂůĂĐŚŝĞǀĞŵĞŶƚŽƌŝŶŶŽǀĂƚŝŽŶ͘
ϲ͘ ZĞĨůĞĐƚƐƐŝŐŶŝĨŝĐĂŶƚŐĞŽŐƌĂƉŚŝĐĂůƉĂƚƚĞƌŶƐ͕ŝŶĐůƵĚŝŶŐƚŚŽƐĞĂƐƐŽĐŝĂƚĞĚǁŝƚŚĚŝĨĨĞƌĞŶƚĞƌĂƐŽĨ ƐĞƚƚůĞŵĞŶƚĂŶĚŐƌŽǁƚŚ͕ƉĂƌƚŝĐƵůĂƌƚƌĂŶƐƉŽƌƚĂƚŝŽŶŵŽĚĞƐ͕ŽƌĚŝƐƚŝŶĐƚŝǀĞĞǆĂŵƉůĞƐŽĨƉĂƌŬŽƌ ĐŽŵŵƵŶŝƚǇƉůĂŶŶŝŶŐ͕ŽƌĐƵůƚƵƌĂůůĂŶĚƐĐĂƉĞ͘
ϳ͘ /ƐŽŶĞŽĨƚŚĞůĂƐƚƌĞŵĂŝŶŝŶŐĞǆĂŵƉůĞƐŝŶƚŚĞŝƚǇ͕ƌĞŐŝŽŶ͕^ƚĂƚĞ͕ŽƌŶĂƚŝŽŶƉŽƐƐĞƐƐŝŶŐ ĚŝƐƚŝŶŐƵŝƐŚŝŶŐĐŚĂƌĂĐƚĞƌŝƐƚŝĐƐŽĨĂŶĂƌĐŚŝƚĞĐƚƵƌĂůŽƌŚŝƐƚŽƌŝĐĂůƚǇƉĞŽƌƐƉĞĐŝŵĞŶ͘ ϴ͘ ,ĂƐǇŝĞůĚĞĚŽƌŵĂǇďĞůŝŬĞůǇƚŽǇŝĞůĚ͕ŝŶĨŽƌŵĂƚŝŽŶŝŵƉŽƌƚĂŶƚŝŶŚŝƐƚŽƌǇŽƌƉƌĞŚŝƐƚŽƌǇ͘ ^ƚƌƵĐƚƵƌĞŽĨDĞƌŝƚ͘ƐĚĞĨŝŶĞĚďǇdŝƚůĞϮϬ;ϮϬ͘ϱϬ͘ϬϭϬͿ͕Ă^ƚƌƵĐƚƵƌĞ;ŽƌZĞƐŽƵƌĐĞͿŽĨDĞƌŝƚŝƐĂŶǇ ŝŵƉƌŽǀĞŵĞŶƚŽƌŶĂƚƵƌĂůĨĞĂƚƵƌĞǁŚŝĐŚĐŽŶƚƌŝďƵƚĞƐƚŽƚŚĞďƌŽĂĚĞƌƵŶĚĞƌƐƚĂŶĚŝŶŐŽĨƚŚĞŚŝƐƚŽƌŝĐĂů͕ ĂƌĐŚĂĞŽůŽŐŝĐĂů͕ĐƵůƚƵƌĂů͕ĂƌĐŚŝƚĞĐƚƵƌĂů͕ĐŽŵŵƵŶŝƚǇ͕ĂĞƐƚŚĞƚŝĐ͕ŽƌĂƌƚŝƐƚŝĐŚĞƌŝƚĂŐĞŽĨƚŚĞŝƚǇǁŚŝůĞ ƌĞƚĂŝŶŝŶŐƐƵĨĨŝĐŝĞŶƚŝŶƚĞŐƌŝƚǇĂŶĚŵĞĞƚŝŶŐŽŶĞŽƌŵŽƌĞŽĨƚŚĞĨŽůůŽǁŝŶŐĐƌŝƚĞƌŝĂ͗ ϭ͘ ,ĂƐĂƵŶŝƋƵĞůŽĐĂƚŝŽŶ͕ĞŵďŽĚŝĞƐĂƐŝŶŐƵůĂƌƉŚǇƐŝĐĂůĐŚĂƌĂĐƚĞƌŝƐƚŝĐ͕ŽƌĐŽŶƚĂŝŶƐĂǀŝĞǁŽƌǀŝƐƚĂ ƌĞƉƌĞƐĞŶƚŝŶŐĂŶĞƐƚĂďůŝƐŚĞĚĂŶĚĨĂŵŝůŝĂƌǀŝƐƵĂůĨĞĂƚƵƌĞǁŝƚŚŝŶĂŶĞŝŐŚďŽƌŚŽŽĚ͕ĐŽŵŵƵŶŝƚǇŽƌ ĂƌĞĂ͘
Ϯ͘ /ƐĂŶĞǆĂŵƉůĞŽĨĂƚǇƉĞŽĨďƵŝůĚŝŶŐǁŚŝĐŚǁĂƐŽŶĐĞĐŽŵŵŽŶďƵƚŝƐŶŽǁƌĂƌĞŝŶŝƚƐŶĞŝŐŚďŽƌŚŽŽĚ͕ ĐŽŵŵƵŶŝƚǇŽƌĂƌĞĂ͘
ϯ͘ /ƐĐŽŶŶĞĐƚĞĚǁŝƚŚĂďƵƐŝŶĞƐƐŽƌƵƐĞǁŚŝĐŚǁĂƐŽŶĐĞĐŽŵŵŽŶďƵƚŝƐŶŽǁƌĂƌĞ͘ ϰ͘ ,ĂƐǇŝĞůĚĞĚŽƌŵĂǇďĞůŝŬĞůǇƚŽǇŝĞůĚ͕ŝŶĨŽƌŵĂƚŝŽŶŝŵƉŽƌƚĂŶƚŝŶŚŝƐƚŽƌǇŽƌƉƌĞŚŝƐƚŽƌǇ͘ ϱ͘ ZĞƉƌĞƐĞŶƚƐĂŶŝŵƉƌŽǀĞŵĞŶƚŽƌƵůƚƵƌĂůZĞƐŽƵƌĐĞƚŚĂƚŶŽůŽŶŐĞƌĞǆŚŝďŝƚƐƚŚĞŚŝŐŚĚĞŐƌĞĞŽĨ ŝŶƚĞŐƌŝƚǇƐƵĨĨŝĐŝĞŶƚĨŽƌůĂŶĚŵĂƌŬĚĞƐŝŐŶĂƚŝŽŶ͕ǇĞƚƐƚŝůůƌĞƚĂŝŶƐŶĞĐĞƐƐĂƌǇŝŶƚĞŐƌŝƚǇƵŶĚĞƌŽŶĞŽƌ ŵŽƌĞŽĨƚŚĞůĂŶĚŵĂƌŬĐƌŝƚĞƌŝĂƚŽĐŽŶǀĞǇĐƵůƚƵƌĂůƌĞƐŽƵƌĐĞƐŝŐŶŝĨŝĐĂŶĐĞĂƐĂƐƚƌƵĐƚƵƌĞŽƌƌĞƐŽƵƌĐĞ ŽĨŵĞƌŝƚ͘
WŽŝŶƚŽĨƵůƚƵƌĂů/ŶƚĞƌĞƐƚ͘ƐĚĞĨŝŶĞĚďǇdŝƚůĞϮϬ;ϮϬ͘ϱϬ͘ϬϭϬͿ͕ĂWŽŝŶƚŽĨƵůƚƵƌĂů/ŶƚĞƌĞƐƚŵĞĂŶƐĂ ƐŝƚĞŽĨůŽĐĂůƐŝŐŶŝĨŝĐĂŶĐĞ͕ŵĞĞƚŝŶŐŽŶĞŽƌŵŽƌĞŽĨƚŚĞĨŽůůŽǁŝŶŐĐƌŝƚĞƌŝĂ͗ ϭ͘ ,ĂƐĂŶƚŚƌŽƉŽůŽŐŝĐĂů͕ĐƵůƚƵƌĂů͕ŵŝůŝƚĂƌǇ͕ƉŽůŝƚŝĐĂů͕ĂƌĐŚŝƚĞĐƚƵƌĂů͕ĞĐŽŶŽŵŝĐ͕ƐĐŝĞŶƚŝĨŝĐŽƌƚĞĐŚŶŝĐĂů͕ ƌĞůŝŐŝŽƵƐ͕ĞǆƉĞƌŝŵĞŶƚĂů͕ŽƌŽƚŚĞƌǀĂůƵĞ͘
Ϯ͘ dŚĞŽƌŝŐŝŶĂůƉŚǇƐŝĐĂůĨĞĂƚƵƌĞ;ƐͿŶŽůŽŶŐĞƌĞǆŝƐƚƚŽĂŶĂƉƉƌĞĐŝĂďůĞĞǆƚĞŶƚ͘ ϯ͘ /ƐĨŽƵŶĚƚŽŶŽƚƋƵĂůŝĨǇĂƐĂƌĞĐŽŐŶŝǌĞĚĐƵůƚƵƌĂůƌĞƐŽƵƌĐĞŽƌĂŶĞůŝŐŝďůĞĐƵůƚƵƌĂůƌĞƐŽƵƌĐĞ͘ Ϯϯ
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dŚĞďƵŝůĚŝŶŐŝƐƌĞͲĞǀĂůƵĂƚĞĚďĞůŽǁĨŽƌŚŝƐƚŽƌŝĐĂůƐŝŐŶŝĨŝĐĂŶĐĞƵŶĚĞƌƚŚĞĐƌŝƚĞƌŝĂĨŽƌůŝƐƚŝŶŐŝŶƚŚĞ EĂƚŝŽŶĂůZĞŐŝƐƚĞƌĂŶĚĂůŝĨŽƌŶŝĂZĞŐŝƐƚĞƌĂŶĚĨŽƌĚĞƐŝŐŶĂƚŝŽŶƵŶĚĞƌƚŚĞŝƚǇ͛ƐŽƌĚŝŶĂŶĐĞ͘dŚĞ EĂƚŝŽŶĂůZĞŐŝƐƚĞƌĂŶĚĂůŝĨŽƌŶŝĂZĞŐŝƐƚĞƌĐƌŝƚĞƌŝĂĂƌĞǀĞƌǇƐŝŵŝůĂƌĂŶĚŚĂǀĞďĞĞŶŐƌŽƵƉĞĚƚŽŐĞƚŚĞƌƚŽ ĂǀŽŝĚƌĞĚƵŶĚĂŶĐǇ͘^ĞǀĞƌĂůŽĨƚŚĞŝƚǇ͛Ɛ>ĂŶĚŵĂƌŬĐƌŝƚĞƌŝĂĂƌĞĂůƐŽƐŝŵŝůĂƌƚŽƚŚĞĨĞĚĞƌĂůĂŶĚ^ƚĂƚĞ ĐƌŝƚĞƌŝĂĂŶĚŚĂǀĞďĞĞŶŐƌŽƵƉĞĚǁŝƚŚƚŚĞŵǁŚĞƌĞĂƉƉƌŽƉƌŝĂƚĞ͘dŚĞ^ƚƌƵĐƚƵƌĞŽĨDĞƌŝƚĂŶĚWŽŝŶƚŽĨ ƵůƚƵƌĂů/ŶƚĞƌĞƐƚĐƌŝƚĞƌŝĂĂƌĞůŝƐƚĞĚƐĞƉĂƌĂƚĞůǇ͘
EĂƚŝŽŶĂůZĞŐŝƐƚĞƌ͕ĂůŝĨŽƌŶŝĂZĞŐŝƐƚĞƌ͕ĂŶĚŝƚǇ>ĂŶĚŵĂƌŬƌŝƚĞƌŝĂ EĂƚŝŽŶĂůZĞŐŝƐƚĞƌƌŝƚĞƌŝŽŶ͗/ƚŝƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚĞǀĞŶƚƐƚŚĂƚŚĂǀĞŵĂĚĞĂƐŝŐŶŝĨŝĐĂŶƚ ĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞďƌŽĂĚƉĂƚƚĞƌŶƐŽĨŽƵƌŚŝƐƚŽƌǇ͘
ĂůŝĨŽƌŶŝĂZĞŐŝƐƚĞƌƌŝƚĞƌŝŽŶϭ͗/ƚŝƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞĞǀĞŶƚƐƚŚĂƚŚĂǀĞŵĂĚĞĂƐŝŐŶŝĨŝĐĂŶƚ ĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞďƌŽĂĚƉĂƚƚĞƌŶƐŽĨůŽĐĂůŽƌƌĞŐŝŽŶĂůŚŝƐƚŽƌǇ͕ŽƌƚŚĞĐƵůƚƵƌĂůŚĞƌŝƚĂŐĞŽĨĂůŝĨŽƌŶŝĂ ŽƌƚŚĞhŶŝƚĞĚ^ƚĂƚĞƐ͘
ŝƚǇ>ĂŶĚŵĂƌŬƌŝƚĞƌŝŽŶϲ͗ZĞĨůĞĐƚƐƐŝŐŶŝĨŝĐĂŶƚŐĞŽŐƌĂƉŚŝĐĂůƉĂƚƚĞƌŶƐ͕ŝŶĐůƵĚŝŶŐƚŚŽƐĞĂƐƐŽĐŝĂƚĞĚ ǁŝƚŚĚŝĨĨĞƌĞŶƚĞƌĂƐŽĨƐĞƚƚůĞŵĞŶƚĂŶĚŐƌŽǁƚŚ͕ƉĂƌƚŝĐƵůĂƌƚƌĂŶƐƉŽƌƚĂƚŝŽŶŵŽĚĞƐ͕ŽƌĚŝƐƚŝŶĐƚŝǀĞ ĞǆĂŵƉůĞƐŽĨƉĂƌŬŽƌĐŽŵŵƵŶŝƚǇƉůĂŶŶŝŶŐ͕ŽƌĐƵůƚƵƌĂůůĂŶĚƐĐĂƉĞ͘ dŚŝƐďƵŝůĚŝŶŐŝƐůŽĐĂƚĞĚŝŶƚŚĞWW,͕ǁŚŝĐŚŝƐŽŶĞŽĨZŝǀĞƌƐŝĚĞ͛ƐŽůĚĞƐƚƚƌƵůǇƌĞƐŝĚĞŶƚŝĂů ŶĞŝŐŚďŽƌŚŽŽĚƐ͘,ŽǁĞǀĞƌ͕ƚŚĞƌĞƐŝĚĞŶĐĞǁĂƐĐŽŶǀĞƌƚĞĚƚŽĂŶŽĨĨŝĐĞŝŶϭϵϴϳ͘dŚĞƌĞůĂƚĞĚĂůƚĞƌĂƚŝŽŶƐ ŵĂĚĞƚŽƚŚĞƉƌŽƉĞƌƚǇĂŶĚŝƚƐƐƵƌƌŽƵŶĚŝŶŐƐƌĂĚŝĐĂůůǇĐŚĂŶŐĞĚƚŚĞƐƉĂƚŝĂůƌĞůĂƚŝŽŶƐŚŝƉƐƚŚĂƚĐŽŶǀĞǇĞĚ ƚŚĞƉƌŽƉĞƌƚǇ͛ƐĂƐƐŽĐŝĂƚŝŽŶǁŝƚŚƚŚĞĞĂƌůǇϮϬƚŚĐĞŶƚƵƌǇŶĞŝŐŚďŽƌŚŽŽĚ͘dŚĞďƵŝůĚŝŶŐŝƐŶŽǁĂĐĐĞƐƐĞĚďǇ ĂϮϱͲĨŽŽƚͲǁŝĚĞĚƌŝǀĞǁĂǇĂŶĚƐƵƌƌŽƵŶĚĞĚďǇƉĂƌŬŝŶŐŽŶƚŚƌĞĞƐŝĚĞƐ͘dŚĞĐůŽƐĞƐƚƌĞƐŝĚĞŶĐĞŝƐŵŽƌĞ ƚŚĂŶϳϬĨĞĞƚƚŽƚŚĞƐŽƵƚŚ͘/ŶĂĚĚŝƚŝŽŶ͕ƚŚĞůĂŶĚƐĐĂƉĞĚƉĂƌŬǁĂǇǁĂƐƌĞŵŽǀĞĚ͕ĂŶĚƚŚĞĨƌŽŶƚƐĞƚďĂĐŬ ǁĂƐƌĞĚƵĐĞĚƚŽĨĂĐŝůŝƚĂƚĞƐƚƌĞĞƚǁŝĚĞŶŝŶŐ͘ůůŽĨƚŚĞƐĞƚŚŝŶŐƐĂƌĞŝŶĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞƌĞŵĂŝŶĚĞƌŽĨ ƚŚĞŶĞŝŐŚďŽƌŚŽŽĚ͕ǁŚŝĐŚŝƐĐŚĂƌĂĐƚĞƌŝǌĞĚďǇƐŵĂůůͲůŽƚƐ͕ŚŽƵƐĞƐƚŚĂƚĂƌĞƚǇƉŝĐĂůůǇϭϱƚŽϮϬĨĞĞƚĂƉĂƌƚ͕ ŶĂƌƌŽǁĚƌŝǀĞǁĂǇƐ͕ĂŶĚŝŶŵŽƐƚůŽĐĂƚŝŽŶƐ͕ůĂŶĚƐĐĂƉĞĚƉĂƌŬǁĂǇƐďĞƚǁĞĞŶƚŚĞƐƚƌĞĞƚĂŶĚƐŝĚĞǁĂůŬ͘ dŚĞƉƌŽƉĞƌƚǇĂƚϰϰϳϮKƌĂŶŐĞ^ƚƌĞĞƚŝƐŶŽůŽŶŐĞƌƌĞƉƌĞƐĞŶƚĂƚŝǀĞŽĨƚŚĞƐŵĂůůͲůŽƚ͕ƌĞƐŝĚĞŶƚŝĂůƉĂƚƚĞƌŶ Ϯϰ
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EĂƚŝŽŶĂůZĞŐŝƐƚĞƌƌŝƚĞƌŝŽŶ͗/ƚŝƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞůŝǀĞƐŽĨƉĞƌƐŽŶƐƐŝŐŶŝĨŝĐĂŶƚŝŶŽƵƌƉĂƐƚ͘ ĂůŝĨŽƌŶŝĂZĞŐŝƐƚĞƌƌŝƚĞƌŝŽŶϮ͗/ƚŝƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞůŝǀĞƐŽĨƉĞƌƐŽŶƐŝŵƉŽƌƚĂŶƚƚŽůŽĐĂů͕ ĂůŝĨŽƌŶŝĂ͕ŽƌŶĂƚŝŽŶĂůŚŝƐƚŽƌǇ͘
ŝƚǇ>ĂŶĚŵĂƌŬƌŝƚĞƌŝŽŶϮ͗/ƐŝĚĞŶƚŝĨŝĞĚǁŝƚŚƉĞƌƐŽŶƐŽƌĞǀĞŶƚƐƐŝŐŶŝĨŝĐĂŶƚŝŶůŽĐĂů͕ƐƚĂƚĞŽƌŶĂƚŝŽŶĂů ŚŝƐƚŽƌǇ͘
ZĞƐĞĂƌĐŚ ĚŝĚ ŶŽƚ ŝĚĞŶƚŝĨǇ ĂŶǇ ĂƐƐŽĐŝĂƚŝŽŶƐ ǁŝƚŚ ŚŝƐƚŽƌŝĐĂůůǇ ƐŝŐŶŝĨŝĐĂŶƚ ƉĞŽƉůĞ͘ dŚĞ ƉƌŽƉĞƌƚǇ ŝƐ ŶŽƚ ƐŝŐŶŝĨŝĐĂŶƚƵŶĚĞƌƚŚĞƐĞĐƌŝƚĞƌŝĂ͘
EĂƚŝŽŶĂůZĞŐŝƐƚĞƌƌŝƚĞƌŝŽŶ͗/ƚĞŵďŽĚŝĞƐƚŚĞĚŝƐƚŝŶĐƚŝǀĞĐŚĂƌĂĐƚĞƌŝƐƚŝĐƐŽĨĂƚǇƉĞ͕ƉĞƌŝŽĚ͕ƌĞŐŝŽŶ͕ ŽƌŵĞƚŚŽĚŽĨĐŽŶƐƚƌƵĐƚŝŽŶ͕ŽƌƌĞƉƌĞƐĞŶƚƐƚŚĞǁŽƌŬŽĨĂŵĂƐƚĞƌ͕ŽƌƉŽƐƐĞƐƐĞƐŚŝŐŚĂƌƚŝƐƚŝĐǀĂůƵĞƐ͕Žƌ ƚŚĂƚƌĞƉƌĞƐĞŶƚĂƐŝŐŶŝĨŝĐĂŶƚĂŶĚĚŝƐƚŝŶŐƵŝƐŚĂďůĞĞŶƚŝƚǇǁŚŽƐĞĐŽŵƉŽŶĞŶƚƐůĂĐŬŝŶĚŝǀŝĚƵĂů ĚŝƐƚŝŶĐƚŝŽŶ͘
ĂůŝĨŽƌŶŝĂZĞŐŝƐƚĞƌƌŝƚĞƌŝŽŶϯ͗/ƚĞŵďŽĚŝĞƐƚŚĞĚŝƐƚŝŶĐƚŝǀĞĐŚĂƌĂĐƚĞƌŝƐƚŝĐƐŽĨĂƚǇƉĞ͕ƉĞƌŝŽĚ͕ƌĞŐŝŽŶ͕ ŽƌŵĞƚŚŽĚŽƌĐŽŶƐƚƌƵĐƚŝŽŶ͕ŽƌƌĞƉƌĞƐĞŶƚƐƚŚĞǁŽƌŬŽĨĂŵĂƐƚĞƌ͕ŽƌƉŽƐƐĞƐƐĞƐŚŝŐŚĂƌƚŝƐƚŝĐǀĂůƵĞƐ͘ ŝƚǇ>ĂŶĚŵĂƌŬƌŝƚĞƌŝŽŶϯ͗
ŵďŽĚŝĞƐĚŝƐƚŝŶĐƚŝǀĞĐŚĂƌĂĐƚĞƌŝƐƚŝĐƐŽĨĂƐƚǇůĞ͕ƚǇƉĞ͕ƉĞƌŝŽĚŽƌŵĞƚŚŽĚŽĨ ĐŽŶƐƚƌƵĐƚŝŽŶ͕ŽƌŝƐĂǀĂůƵĂďůĞĞǆĂŵƉůĞŽĨƚŚĞƵƐĞŽĨŝŶĚŝŐĞŶŽƵƐŵĂƚĞƌŝĂůƐŽƌĐƌĂĨƚƐŵĂŶƐŚŝƉ͘ ŝƚǇ>ĂŶĚŵĂƌŬƌŝƚĞƌŝŽŶϰ͗ZĞƉƌĞƐĞŶƚƐƚŚĞǁŽƌŬŽĨĂŶŽƚĂďůĞďƵŝůĚĞƌ͕ĚĞƐŝŐŶĞƌ͕ŽƌĂƌĐŚŝƚĞĐƚ͕Žƌ ŝŵƉŽƌƚĂŶƚĐƌĞĂƚŝǀĞŝŶĚŝǀŝĚƵĂů͘
ŝƚǇ>ĂŶĚŵĂƌŬƌŝƚĞƌŝŽŶϱ͗
ŵďŽĚŝĞƐĞůĞŵĞŶƚƐƚŚĂƚƉŽƐƐĞƐƐŚŝŐŚĂƌƚŝƐƚŝĐǀĂůƵĞƐŽƌƌĞƉƌĞƐĞŶƚƐĂ ƐŝŐŶŝĨŝĐĂŶƚƐƚƌƵĐƚƵƌĂůŽƌĂƌĐŚŝƚĞĐƚƵƌĂůĂĐŚŝĞǀĞŵĞŶƚŽƌŝŶŶŽǀĂƚŝŽŶ͘ dŚĞƉƌŽƉĞƌƚǇǁĂƐŶŽƚĚĞƐŝŐŶĞĚŽƌďƵŝůƚďǇĂŵĂƐƚĞƌĂƌĐŚŝƚĞĐƚ͕ĚĞƐŝŐŶĞƌ͕ŽƌďƵŝůĚĞƌĂŶĚĚŽĞƐŶŽƚ ƌĞƉƌĞƐĞŶƚĂŶǇĚĞƐŝŐŶŽƌĐŽŶƐƚƌƵĐƚŝŽŶͲƌĞůĂƚĞĚĂĐŚŝĞǀĞŵĞŶƚƐŽƌŝŶŶŽǀĂƚŝŽŶƐ͘/ƚŝƐŶŽƚĂŶĞǆĂŵƉůĞŽĨ ƚŚĞƵƐĞŽĨŝŶĚŝŐĞŶŽƵƐŵĂƚĞƌŝĂůƐŽƌĐƌĂĨƚƐŵĂŶƐŚŝƉ͘dŚĞďƵŝůĚŝŶŐĚŽĞƐĞŵďŽĚǇĐŚĂƌĂĐƚĞƌŝƐƚŝĐƐŽĨƚŚĞ EĞŽĐůĂƐƐŝĐĂůƐƚǇůĞƐƵĐŚĂƐƚŚĞƌĞĐƚĂŶŐƵůĂƌƉůĂŶ͕ŚŝŐŚͲƉŝƚĐŚĞĚ͕ŚŝƉƉĞĚƌŽŽĨ͕ĐůĂƉďŽĂƌĚƐŝĚŝŶŐ͕ĐůĂƐƐŝĐĂů ĐŽůƵŵŶƐ͕ĂŶĚŽĨĨͲĐĞŶƚĞƌƉŽƌĐŚƵŶĚĞƌƚŚĞƉƌŝŶĐŝƉĂůƌŽŽĨ͘/ŶĂĚĚŝƚŝŽŶƚŽĨŝƌĞĚĂŵĂŐĞ͕ĂůƚĞƌĂƚŝŽŶƐƚŽƚŚĞ ďƵŝůĚŝŶŐŝŶĐůƵĚĞƚŚĞĂĚĚŝƚŝŽŶŽĨĂŶͲĐŽŵƉůŝĂŶƚƌĂŵƉŽŶƚŚĞŶŽƌƚŚĞůĞǀĂƚŝŽŶĂŶĚƌĞŵŽǀĂůŽĨ ŶĞĂƌůǇŚĂůĨŽĨƚŚĞǁŝŶĚŽǁƐŝŶĐůƵĚŝŶŐƚŚĞĨĂĕĂĚĞǁŝŶĚŽǁƐ͘/ŶŝƚƐĐƵƌƌĞŶƚĐŽŶĚŝƚŝŽŶ͕ŝƚĚŽĞƐŶŽƚ ĐŽŵƉĂƌĞĨĂǀŽƌĂďůǇƚŽŽƚŚĞƌďƵŝůĚŝŶŐƐŽĨĂƐŝŵŝůĂƌƐƚǇůĞĂŶĚǀŝŶƚĂŐĞ͕ŝŶĐůƵĚŝŶŐŽŶĞƐŝŶƚŚĞŝŵŵĞĚŝĂƚĞ ǀŝĐŝŶŝƚǇ͘dŚĞƉƌŽƉĞƌƚǇŝƐŶŽƚĂƌĐŚŝƚĞĐƚƵƌĂůůǇƐŝŐŶŝĨŝĐĂŶƚ͘ dŚĞƉƌŽƉĞƌƚǇŝƚƐĞůĨŚĂƐĂůƐŽƐƵƐƚĂŝŶĞĚĂůƚĞƌĂƚŝŽŶƐƚŚĂƚŚĂǀĞĐŽŵƉƌŽŵŝƐĞĚŝŶƚĞŐƌŝƚǇŽĨƐĞƚƚŝŶŐĂŶĚ ĂƐƐŽĐŝĂƚŝŽŶ͘dŚĞƉĂƌŬŝŶŐůŽƚůĂǁŶƚŚĂƚǀŝƐƵĂůůǇĞǆƉĂŶĚƐƚŚĞĨƌŽŶƚǇĂƌĚĂƌĞĂ͕ƚŚĞƚƌĞĞƐƚŚƌŽƵŐŚŽƵƚƚŚĞ ƉĂƌŬŝŶŐůŽƚ͕ĂŶĚƚŚĞůĂƌŐĞƐĞƉĂƌĂƚŝŽŶĨƌŽŵŽƚŚĞƌďƵŝůĚŝŶŐƐĐĂƵƐĞƚŚĞƉƌŽƉĞƌƚǇƚŽƌĞĂĚŵŽƌĞůŝŬĞĂ ĨŽƌŵĞƌŐƌŽǀĞĐŽƚƚĂŐĞƚŚĂŶƚŚĞƐŵĂůůͲůŽƚƵƌďĂŶƉƌŽƉĞƌƚǇƚŚĂƚŝƚǁĂƐ͘dŚĞƐƉĂƚŝĂůƌĞůĂƚŝŽŶƐŚŝƉƐƚŚĂƚ ŝĚĞŶƚŝĨŝĞĚŝƚĂƐƉĂƌƚŽĨƚŚĞWW,ŶŽůŽŶŐĞƌĞǆŝƐƚ͘dŚĞƉĂƌŬŝŶŐůŽƚĂŶĚƚŚĞĐŚĂŶŐĞƚŽƚŚĞƉĂƌŬǁĂǇ Ϯϱ
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ĂůŝĨŽƌŶŝĂZĞŐŝƐƚĞƌƌŝƚĞƌŝŽŶϰ͗/ƚŚĂƐǇŝĞůĚĞĚ͕ŽƌŚĂƐƚŚĞƉŽƚĞŶƚŝĂůƚŽǇŝĞůĚ͕ŝŶĨŽƌŵĂƚŝŽŶŝŵƉŽƌƚĂŶƚ ƚŽƚŚĞƉƌĞŚŝƐƚŽƌǇŽƌŚŝƐƚŽƌǇŽĨƚŚĞůŽĐĂůĂƌĞĂ͕ĂůŝĨŽƌŶŝĂ͕ŽƌƚŚĞEĂƚŝŽŶ͘ ŝƚǇ>ĂŶĚŵĂƌŬƌŝƚĞƌŝŽŶϴ͗,ĂƐǇŝĞůĚĞĚŽƌŵĂǇďĞůŝŬĞůǇƚŽǇŝĞůĚ͕ŝŶĨŽƌŵĂƚŝŽŶŝŵƉŽƌƚĂŶƚŝŶŚŝƐƚŽƌǇ ŽƌƉƌĞŚŝƐƚŽƌǇ͘
dŚĞďƵŝůĚŝŶŐĚŽĞƐŶŽƚĚĂƚĞƚŽƚŚĞƉƌĞŚŝƐƚŽƌŝĐƉĞƌŝŽĚ͘/ƚǁĂƐĐŽŶƐƚƌƵĐƚĞĚŝŶϭϵϬϴƵƐŝŶŐĐŽŵŵŽŶ ŵĞƚŚŽĚƐĂŶĚŵĂƚĞƌŝĂůƐĨŽƌƚŚĂƚƚŝŵĞ͘/ƚǁĂƐƚŚĞŶƌĞŵŽĚĞůĞĚĨŽƌƵƐĞĂƐĂŶŽĨĨŝĐĞŝŶϭϵϴϳ͘/ƚŝƐƵŶůŝŬĞůǇ ƚŚĂƚŝƚǁŽƵůĚǇŝĞůĚĂŶǇŝŶĨŽƌŵĂƚŝŽŶŝŵƉŽƌƚĂŶƚƚŽŚŝƐƚŽƌǇŽƌŝŶĨŽƌŵĂƚŝŽŶƚŚĂƚĐĂŶŶŽƚďĞĨŽƵŶĚŝŶ ŽƚŚĞƌďƵŝůĚŝŶŐƐŽĨĂƐŝŵŝůĂƌǀŝŶƚĂŐĞ͘/ƚŝƐŶŽƚƐŝŐŶŝĨŝĐĂŶƚƵŶĚĞƌƚŚĞƐĞĐƌŝƚĞƌŝĂ͘ dŚĞĨŽůůŽǁŝŶŐĂĚĚƌĞƐƐĞƐƚŚĞƌĞŵĂŝŶŝŶŐŝƚǇ>ĂŶĚŵĂƌŬĐƌŝƚĞƌŝĂĨŽƌĚĞƐŝŐŶĂƚŝŽŶ͘ ŝƚǇ>ĂŶĚŵĂƌŬƌŝƚĞƌŝŽŶϭ͗
ǆĞŵƉůŝĨŝĞƐŽƌƌĞĨůĞĐƚƐƐƉĞĐŝĂůĞůĞŵĞŶƚƐŽĨƚŚĞŝƚǇΖƐĐƵůƚƵƌĂů͕ƐŽĐŝĂů͕ ĞĐŽŶŽŵŝĐ͕ƉŽůŝƚŝĐĂů͕ĂĞƐƚŚĞƚŝĐ͕ĞŶŐŝŶĞĞƌŝŶŐ͕ĂƌĐŚŝƚĞĐƚƵƌĂů͕ŽƌŶĂƚƵƌĂůŚŝƐƚŽƌǇ͘ dŚŝƐĂůƚĞƌĞĚƉƌŽƉĞƌƚǇĚŽĞƐŶŽƚĞǆĞŵƉůŝĨǇƐƉĞĐŝĂůĞůĞŵĞŶƚƐŽĨƚŚĞŝƚǇ͛ƐŚŝƐƚŽƌǇ͘ĞĐĂƵƐĞŽĨƚŚĞ ĐŚĂŶŐĞƐŵĂĚĞƚŽŝƚĂƐƉĂƌƚŽĨƚŚĞŽĨĨŝĐĞĐŽŶǀĞƌƐŝŽŶ͕ŝƚŶŽůŽŶŐĞƌĐŽŶǀĞǇƐĂƚƌƵĞƐĞŶƐĞŽĨŝƚƐŚŝƐƚŽƌǇ͘/ƚ ŝƐŶŽƚƐŝŐŶŝĨŝĐĂŶƚƵŶĚĞƌƚŚŝƐĐƌŝƚĞƌŝŽŶ͘
ŝƚǇ>ĂŶĚŵĂƌŬƌŝƚĞƌŝŽŶϳ͗/ƐŽŶĞŽĨƚŚĞůĂƐƚƌĞŵĂŝŶŝŶŐĞǆĂŵƉůĞƐŝŶƚŚĞŝƚǇ͕ƌĞŐŝŽŶ͕^ƚĂƚĞ͕Žƌ ŶĂƚŝŽŶƉŽƐƐĞƐƐŝŶŐĚŝƐƚŝŶŐƵŝƐŚŝŶŐĐŚĂƌĂĐƚĞƌŝƐƚŝĐƐŽĨĂŶĂƌĐŚŝƚĞĐƚƵƌĂůŽƌŚŝƐƚŽƌŝĐĂůƚǇƉĞŽƌƐƉĞĐŝŵĞŶ͘ dŚĞŝƚǇŚĂƐŵĂŶǇEĞŽĐůĂƐƐŝĐĂůƌĞƐŝĚĞŶĐĞƐ͘dŚŝƐďƵŝůĚŝŶŐŝƐŶŽƚŽŶĞŽĨƚŚĞůĂƐƚƌĞŵĂŝŶŝŶŐĞǆĂŵƉůĞƐŽĨ ƚŚĞƐƚǇůĞ͘dŚĞƉƌŽƉĞƌƚǇŝƐŶŽƚƐŝŐŶŝĨŝĐĂŶƚƵŶĚĞƌƚŚŝƐĐƌŝƚĞƌŝŽŶ͘ ^ƚƌƵĐƚƵƌĞŽĨDĞƌŝƚƌŝƚĞƌŝĂ
ŝƚǇ^ƚƌƵĐƚƵƌĞŽĨDĞƌŝƚƌŝƚĞƌŝŽŶϭ͗,ĂƐĂƵŶŝƋƵĞůŽĐĂƚŝŽŶ͕ĞŵďŽĚŝĞƐĂƐŝŶŐƵůĂƌƉŚǇƐŝĐĂů ĐŚĂƌĂĐƚĞƌŝƐƚŝĐ͕ŽƌĐŽŶƚĂŝŶƐĂǀŝĞǁŽƌǀŝƐƚĂƌĞƉƌĞƐĞŶƚŝŶŐĂŶĞƐƚĂďůŝƐŚĞĚĂŶĚĨĂŵŝůŝĂƌǀŝƐƵĂůĨĞĂƚƵƌĞ ǁŝƚŚŝŶĂŶĞŝŐŚďŽƌŚŽŽĚ͕ĐŽŵŵƵŶŝƚǇŽƌĂƌĞĂ͘
dŚŝƐƉƌŽƉĞƌƚǇŝƐůŽĐĂƚĞĚŝŶƚŚĞĚŽǁŶƚŽǁŶĂƌĞĂŽĨZŝǀĞƌƐŝĚĞ͕ŝŶĂŶĂƌĞĂǁŚĞƌĞƚŚĞƌĞĂƌĞŵĂŶǇƐŝŵŝůĂƌ ďƵŝůĚŝŶŐƐ͘dŚĞƌĞŝƐŶŽƚŚŝŶŐƵŶŝƋƵĞĂďŽƵƚŝƚƐƉŚǇƐŝĐĂůĐŚĂƌĂĐƚĞƌŝƐƚŝĐƐ͕ůŽĐĂƚŝŽŶ͕ŽƌǀŝĞǁ͘/ƚŝƐŶŽƚ ƐŝŐŶŝĨŝĐĂŶƚƵŶĚĞƌƚŚŝƐĐƌŝƚĞƌŝŽŶ͘
ŝƚǇ^ƚƌƵĐƚƵƌĞŽĨDĞƌŝƚƌŝƚĞƌŝŽŶϮ͗/ƐĂŶĞǆĂŵƉůĞŽĨĂƚǇƉĞŽĨďƵŝůĚŝŶŐǁŚŝĐŚǁĂƐŽŶĐĞĐŽŵŵŽŶ ďƵƚŝƐŶŽǁƌĂƌĞŝŶŝƚƐŶĞŝŐŚďŽƌŚŽŽĚ͕ĐŽŵŵƵŶŝƚǇŽƌĂƌĞĂ͘ Ϯϲ
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ŝƚǇ^ƚƌƵĐƚƵƌĞŽĨDĞƌŝƚƌŝƚĞƌŝŽŶϯ͗/ƐĐŽŶŶĞĐƚĞĚǁŝƚŚĂďƵƐŝŶĞƐƐŽƌƵƐĞǁŚŝĐŚǁĂƐŽŶĐĞĐŽŵŵŽŶ ďƵƚŝƐŶŽǁƌĂƌĞ͘
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dŚĞďƵŝůĚŝŶŐĚŽĞƐŶŽƚĚĂƚĞƚŽƚŚĞƉƌĞŚŝƐƚŽƌŝĐƉĞƌŝŽĚ͘/ƚǁĂƐĐŽŶƐƚƌƵĐƚĞĚŝŶϭϵϬϴƵƐŝŶŐĐŽŵŵŽŶ ŵĞƚŚŽĚƐĂŶĚŵĂƚĞƌŝĂůƐĨŽƌƚŚĂƚƚŝŵĞ͘/ƚǁĂƐƚŚĞŶƌĞŵŽĚĞůĞĚĨŽƌƵƐĞĂƐĂŶŽĨĨŝĐĞŝŶϭϵϴϳ͘/ƚŝƐƵŶůŝŬĞůǇ ƚŚĂƚŝƚǁŽƵůĚǇŝĞůĚĂŶǇŝŶĨŽƌŵĂƚŝŽŶŝŵƉŽƌƚĂŶƚƚŽŚŝƐƚŽƌǇŽƌŝŶĨŽƌŵĂƚŝŽŶƚŚĂƚĐĂŶŶŽƚďĞĨŽƵŶĚŝŶ ŽƚŚĞƌďƵŝůĚŝŶŐƐŽĨĂƐŝŵŝůĂƌǀŝŶƚĂŐĞ͘/ƚŝƐŶŽƚƐŝŐŶŝĨŝĐĂŶƚƵŶĚĞƌƚŚŝƐĐƌŝƚĞƌŝŽŶ͘ ŝƚǇ^ƚƌƵĐƚƵƌĞŽĨDĞƌŝƚƌŝƚĞƌŝŽŶϱ͗ZĞƉƌĞƐĞŶƚƐĂŶŝŵƉƌŽǀĞŵĞŶƚŽƌƵůƚƵƌĂůZĞƐŽƵƌĐĞƚŚĂƚŶŽůŽŶŐĞƌ ĞǆŚŝďŝƚƐƚŚĞŚŝŐŚĚĞŐƌĞĞŽĨŝŶƚĞŐƌŝƚǇƐƵĨĨŝĐŝĞŶƚĨŽƌůĂŶĚŵĂƌŬĚĞƐŝŐŶĂƚŝŽŶ͕ǇĞƚƐƚŝůůƌĞƚĂŝŶƐŶĞĐĞƐƐĂƌǇ ŝŶƚĞŐƌŝƚǇƵŶĚĞƌŽŶĞŽƌŵŽƌĞŽĨƚŚĞůĂŶĚŵĂƌŬĐƌŝƚĞƌŝĂƚŽĐŽŶǀĞǇĐƵůƚƵƌĂůƌĞƐŽƵƌĐĞƐŝŐŶŝĨŝĐĂŶĐĞĂƐĂ ƐƚƌƵĐƚƵƌĞŽƌƌĞƐŽƵƌĐĞŽĨŵĞƌŝƚ͘
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Riverside City CouncilJuly 28, 2026

Riverside City Council
July 28, 2026