Agenda — Roseville City Council, April 3, 2024 (part 8 of 8)

ALL THAT REAL PROPERTY SITUATED IN THE CITY OF ROSEVILLE, COUNTY OF PLACER, STATE OF CALIFORNIA BEING PARCEL 1 AS SHOWN ON THAT CERTAIN PARCEL MAP ENTITLED “PLEASANT GROVE APARTMENTS, SUBDIVISION NO. PL23-0037”, FILED FOR RECORD _________________, 2024, IN BOOK _________, AT PAGE --------------------, PLACER COUNTY RECORDS.
485.235/586506

EXHIBIT B

APPROVED PROJECT BUDGET

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Prepared For: Mercy Housing California
Prepared By: California Housing Partnership Corporation Version: Construction Closing Draft
Revised: 2/14/2024
Filename:

TABLE OF CONTENTS
Sources of Funds…………………………………………..………………………..……..…………………………………………..………………………..…….. 1 Cash Flow (Residential)…………………………………………..………………………..……..…………11a Uses of Funds…………………………………………..………………………..……..…………………………………………..………………………..…….. 2 Cash Flow (Commercial) …………………………………………..………………………..……..…………11b Developer Fee Calculation…………………………………………..………………………..……..…………………………………………..………………………..…….. 3 Outstanding Debt & Reserves (Book)…………………………………………..………………………..…12a Unit Mix & Rental Income…………………………………………..………………………..……..…………………………………………..………………………..…….. 4 Outstanding Debt & Reserves (Tax)…………………………………………..………………………..…12b Tax Credit Calculation…………………………………………..………………………..……..…………………………………………..………………………..…….. 5 Net Cash Flow Fee Accruals…………………………………………..………………………..……..……12c Base Year Income & Expense…………………………………………..………………………..……..…………………………………………..………………………..…….. 6 Schedule of Existing Debt…………………………………………..………………………..……..………12d Mortgage Calculation & Bond Ratios…………………………………………..………………………..……..…………………………………………..………………………..…….. 7 Schedule of Deductions…………………………………………..………………………..……..…………13 Lease-up/Placed-in-Service Schedule…………………………………………..………………………..……..…………………………………………..………………………..…….. 8 Analysis of Taxable Income…………………………………………..………………………..……..……14 Net Syndication Proceeds…………………………………………..………………………..……..…………………………………………..………………………..…….. 9 Capital Account & Exit Tax Liability…………………………………………..………………………..……15 TCAC Calculations…………………………………………..………………………..……..…………………………………………..………………………..…….. 10a Investment Summary…………………………………………..………………………..……..……………16 TCAC Transfer Event Calculation…………………………………………..………………………..……..…………………………………………..………………………..…….. 10b Net Quarterly Benefits…………………………………………..………………………..……..…………17

SOURCES OF FUNDS - PERMANENT
Variance to v.6.03 Offer Set 12.11.23
AMOUNT AMOUNT Variance
TOTAL

INTEREST
COST
OID

INTEREST
RATE
AMORT
(Yr) COMMENTS
Total Permanent Debt: 1,854,000
0 Century Conventional Perm Loan 1,854,000 2,233,000 (379,000) 7.440% 20.0 Term - 20 (yrs.) City of Roseville - LHTF 6,000,000 6,000,000 0 3.000% 1.788% 55.0 Per Unit: 122,449 Accrued Deferred Interest - City of Roseville - LHTF 227,506 227,506 0 City of Roseville - PIP Loan 1,550,000 1,550,000 0 3.000% 1.788% 55.0 Per Unit: 31,633 Accrued Deferred Interest - City of Roseville - PIP Loan 58,772 58,772 0 Donated Land 2,142,660 2,142,660 0
Capital Contributions 0
GP Capital - Sponsor 100 100 0
Limited Partners 21,678,000 21,678,000 0 Fed LIHTC: $0.95 State LIHTC: $0.88 TOTAL SOURCES 33,511,038 33,890,038 (379,000)
Surplus/(Shortfall) 0 0
Synd Costs 183,500
Net Equity for TCAC 21,494,500 Investor:

TDC less Synd Costs 33,327,538

PERMANENT LOAN INTEREST RATE TRANCHE A TRANCHE B INVESTOR EQUITY STACK OTHER ASSUMPTIONS Index Type: 10Y T 10Y T
Current Index: 4.170% 4.170%
Spread: 2.670% 2.670%
Base Rate 6.840% 6.840%
Cushion 0.150% 0.150% LIHTC Equity (Federal+State) 21,678,000 Current AFR: 1.98% Issuer 0.000% 0.000% 0 Issuer min/yr Subtotal LP Equity 21,678,000 Total U/W AFR: 1.98% Trustee 0.000% 0.000% 0 per annum
Total 7.440% 6.990%

SOURCES OF FUNDS - CONSTRUCTION
2 Variance to v.6.03 Offer Set 12.11.23
AMOUNT AMOUNT Variance

INTEREST
RATE
TERM
(Mos.) COMMENTS
## Conventional Construction Loan 20,039,390 20,430,716 (391,326) 8.070% 25 City of Roseville - LHTF 6,000,000 6,000,000 0 3.000% 25 Accrued Deferred Interest - City of Roseville - LHTF 227,506 227,506 0 City of Roseville - PIP Loan 1,550,000 1,550,000 0 3.000% 25 Accrued Deferred Interest - City of Roseville - PIP Loan 58,772 58,772 0 Donated Land 2,142,660 2,142,660 0
Costs Deferred Until Conversion 1,324,810 1,312,484 12,326 See page 2 - right column Capital Contributions
GP Capital - Sponsor 100 100 0
Limited Partners* 2,167,800 2,167,800 0 #REF! Total Equity During Const. 2,167,800 10.00% TOTAL SOURCES 33,511,038 33,890,038 (379,000)
Surplus/(Shortfall) 0 0
Sources Less Deferred To Conversion: 32,186,228
Syndication Costs 183,500
Net Equity for TCAC 1,984,300

CONSTRUCTION LOAN INTEREST RATE CONSTRUCTION LOAN VALUATION TAX-EXEMPT BOND DATA Index Type: Term SOFR Restricted NOI 232,023 50% Test (see Page 7): N/A Current Index: 5.32% OAR 5.00% Issuer Inducement: TBD
Spread: 1.75% FMV per NOI 4,640,460 CDLAC Allocation: TBD Base Interest Rate (not including cushion): 7.07% Agg. Credit Value @ 0.9449 21,676,274 Percent of CDLAC Allocation Used: 0.00% Cushion - Total 1.00% Perm-Only Soft Debt 0 Const-only portion: 18,185,390 Interest Rate (All-In) 8.07% Total Value 26,316,734
LTV: 85.00% CDLAC Per-Unit Limit N/A
Max. Const. Loan Amount 22,369,224 CDLAC 55% Limit N/A
Commitment Amount TBD 50% Test Target 55.00%
Target Limit N/A
CDLAC Tiebreaker (Details: p.10c) 50%
Pleasant Grove Phase 1 7.02 Construction Closing 021424.xlsm Pleasant Grove - Phase 1

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Uses of Funds Version: Construction Closing Draft
Variance to v.6.03 Offer Set 12.11.23 Res Cost: 100.00% COST ALLOCATIONS LIHTC ELIGIBLE BASIS OTHER ALLOCATIONS Res Sq Foot: 100.00% Assuming 266 Election? No
Deferred to
Depreciable Completion Land/Basis
Total Non- Constr./ or for
TOTAL TOTAL Variance Per Unit Residential Depreciable Residential Non-Resid. Expensed Amortized Rehab Acquisition Perm Conv. 50% Test

ACQUISITION COSTS
Total Purchase Price - Real Estate:
2,142,660
Land - Pleasant Grove 2,142,660 2,142,660 0 43,728 2,142,660 2,142,660 0 2,142,660 Title/Recording/Escrow - Acquisition 18,663 18,663 0 381 18,663 18,663 0 0 0 0 18,663 Land Holding Costs 400,000 400,000 0 8,163 400,000 400,000 0 0 400,000 Off-Site Improvements 75,000 75,000 0 1,531 75,000 0 75,000 0 0 75,000 0 75,000

HARD COSTS
Total Construction Contract:
19,836,070
20,827,874

NEW CONSTRUCTION
Hard Costs-Unit Construction 11,594,936 13,453,000 (1,858,064) 236,631 11,594,936 11,594,936 0 0 11,594,936 0 11,594,936 Site Improvements/Landscape 4,480,263 4,226,000 254,263 91,434 4,480,263 4,480,263 0 4,480,263 0 4,480,263 GC - General Conditions 1,275,629 1,805,000 (529,371) 26,033 1,275,629 1,275,629 0 1,275,629 0 1,275,629 GC - Overhead & Profit 732,157 712,889 19,268 14,942 732,157 732,157 0 732,157 0 732,157 GC - Insurance/Bond 425,588 353,446 72,142 8,685 425,588 425,588 0 425,588 0 425,588 GC - GC Contingency 358,900 349,456 9,444 7,324 358,900 358,900 0 358,900 0 358,900 Contingency - Escalation 725,000 0 725,000 14,796 725,000 725,000 0 725,000 0 725,000 Contingency - Owner's Construction 991,804 1,048,740 (56,936) 20,241 991,804 991,804 0 991,804 0 991,804 REHAB

SOFT COSTS
Architecture - Design 1,253,000 1,053,000 200,000 25,571 1,253,000 1,253,000 0 1,253,000 0 1,253,000 Design/Engineering 245,000 145,000 100,000 5,000 245,000 245,000 0 245,000 0 245,000 Phase I/II/Toxics Report 10,000 10,000 0 204 10,000 10,000 0 10,000 0 10,000 Special Inspections/Testing 70,000 50,000 20,000 1,429 70,000 70,000 0 70,000 0 70,000 Environmental Consulting 33,000 33,000 0 673 33,000 33,000 0 33,000 0 33,000 Owner's Rep / Construction Supervision 155,000 125,000 30,000 3,163 155,000 155,000 0 155,000 0 155,000 Local Development Impact Fees 1,404,580 1,404,580 0 28,665 1,404,580 1,404,580 0 1,404,580 0 1,404,580 Local Permits/Fees 42,000 42,000 0 857 42,000 42,000 0 42,000 0 42,000 Utilty Connection Fees 289,000 289,000 0 5,898 289,000 289,000 0 289,000 0 289,000 Real Estate Taxes During Const 53,567 53,567 0 1,093 53,567 53,567 0 0 53,567 0 0 53,567 Insurance During Const 302,115 202,115 100,000 6,166 302,115 302,115 0 0 302,115 0 0 302,115 Appraisal 15,000 15,000 0 306 15,000 15,000 0 0 15,000 0 15,000 Market/Rent Comp Study 25,000 25,000 0 510 25,000 25,000 0 0 0 Soft Cost Contingency 700,000 391,732 308,268 14,286 700,000 700,000 0 700,000 0 700,000 Predev. Loan Interest/Fees 85,000 85,000 0 1,735 85,000 85,000 0 85,000 0 0 85,000 Construction Loan Interest 1,668,195 1,669,407 (1,212) 34,045 1,668,195 941,382 0 726,813 941,382 0 0 941,382 Accrued Interest - City of Roseville - LHTF 227,506 227,506 0 4,643 227,506 153,781 73,725 153,781 0 153,781 Accrued Interest - City of Roseville - PIP Loan 58,772 58,772 0 1,199 58,772 39,727 19,045 39,727 0 39,727 Title/Recording/Escrow - Construction 95,000 85,000 10,000 1,939 95,000 95,000 0 95,000 0 0 95,000 Title/Recording/Escrow - Permanent 20,000 20,000 0 408 20,000 20,000 0 Legal (Owner): Construction Closing 55,000 55,000 0 1,122 55,000 55,000 0 55,000 0 0 55,000 Permanent Closing 25,000 15,000 10,000 510 25,000 25,000 0 0 Organization of Ptnshp 5,000 5,000 0 102 5,000 5,000 0
Syndication - GP 55,000 55,000 0 1,122 55,000 55,000 0
Syndication Consulting 108,500 108,500 0 2,214 108,500 108,500 0 0 5,000 Audit/Cost Certification 15,000 15,000 0 306 15,000 15,000 0 TCAC Application/Res/Monitoring Fee 113,851 113,851 0 2,323 113,851 113,851 20,090 Marketing 148,000 114,000 34,000 3,020 148,000 148,000 0 Furnishings Not in Contract 98,000 98,000 0 2,000 98,000 98,000 0 98,000 0 98,000 Capitalized Operating Reserve (3 mos.) 199,720 187,394 12,326 4,076 199,720 199,720 199,720 Developer Fee 2,200,000 2,200,000 0 44,898 2,200,000 2,200,000 0 2,200,000 0 1,100,000 2,200,000

FINANCING FEES
Construction Lender Origination Fee 150,295 153,230 (2,935) 3,067 150,295 41,235 0 109,060 41,235 0 41,235 Construction Lender Expenses 52,200 52,200 0 1,065 52,200 14,322 0 37,878 14,322 0 14,322 Construction Lender Counsel 85,000 85,000 0 1,735 85,000 23,321 0 61,679 23,321 0 23,321 Permanent Lender Expenses 1,000 1,000 0 20 1,000 0 0 1,000 0 0 0 Permanent Lender Counsel 25,000 25,000 0 510 25,000 0 0 25,000 0 0 0 Permanent Loan Origination Fee 18,540 22,330 (3,790) 378 18,540 0 0 18,540 0 0 0 COI Contingency 15,000 15,000 0 306 15,000 4,115 0 10,885 0 0 4,115 Subtotal - Financing/Costs of Issuance 347,035 353,760 (6,725) 7,082 347,035 0 82,993 0 0 264,042 78,878 0 0 82,993

TOTAL DEVELOPMENT COSTS 33,511,038 33,890,038 (379,000) 683,899 33,511,038 2,924,543 29,151,019 0 982,583 452,893 29,146,904 0 1,324,810 31,712,342 TDC Per Unit 683,899 670,688 100.00%
TDC Net of accrued interest: 33,224,760 250,184
TDC TCAC 33,327,538 250,184 33,327,538
Pleasant Grove - Phase 1

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Developer Fee Calculation Version: Construction Closing Draft

MAXIMUM DEVELOPER FEE CALCULATION
CONST. ACQ. TOTAL
Fee per Base TCAC Formula 4,042,036 0 4,042,036
Percent of Total 100.00% 0.00% 100.00%
Max. Allowable Fee per TCAC (prorated) 2,200,000 0 2,200,000 Net Allowable 2,200,000 0 2,200,000
Maximum Base Developer Fee per TCAC 2,200,000
Most Restrictive Maximum Developer Fee: 2,200,000
Maximum Cash Fee per TCAC (Lesser of Calc. or Reservation Amount) 2,200,000 Most Restrictive Maximum Cash Fee: 2,200,000

ACTUAL DEVELOPER FEE PAYMENT SCHEDULE
Amount % of Cash Fee % of Total Fee
Construction Close 880,000 40.00% 40.00%
Completion 220,000 10.00% 10.00%
Conversion 950,000 43.18% 43.18%
Final LP Pay-in 1 150,000 6.82% 6.82%
Total: Cash Fee 2,200,000
Plus: Deferred Developer Fee 0 0.00%
Plus: GP Capital 0 0.00%
Total Developer Fee 2,200,000
Pleasant Grove - Phase 1

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Unit Mix & Rental Income Version: Construction Closing Draft UTILITY ALLOWANCES 0BR 1BR 2BR 3BR 4BR 5BR
AVERAGE AFFORDABILITY FOR Pleasant Grove - 61 75 87 - - LIHTC UNITS (% of Median) 47.92% 0 - - - - - -
0 - - - - - -
9% TCAC INCOME TARGETING PTS: 50.00 0 - - - - - -
0 - - - - - -
RENT LIMITS AS OF YEAR: 2023

RESIDENTIAL INCOME
LIHTC - Tier 1 Pleasant Grove TCAC 30% AMI % of Units: 16.67% Section 8 SUBSIDIZED Unit
Type Number
Unit Floor
Area
Actual
Rent
TCAC
AMI %
Per Unit
Monthly
Gross Rent
Per Unit
Regulatory
Net Rent
Per Unit
Actual Net
Rent
Total
Monthly
Net Rent
Total
Annual Net
Rent
Number of
Subsidized
Units
Per Unit
Net
Subsidy
Rents
Per Unit
Subsidy
Increment
Total
Monthly
Subsidy
Total
Annual
Subsidy
Total
Annual
Income
1BR 2 608 30.0% 603 542 542 1,084 13,008 2 1,937 1,395 2,790 33,480 46,488 2BR 3 850 30.0% 723 649 648 1,944 23,328 3 2,437 1,789 5,367 64,404 87,732 3BR 3 1,095 30.0% 836 748 749 2,247 26,964 3 2,954 2,205 6,615 79,380 106,344 TOTAL 8 0 5,275 63,300 8 14,772 177,264 240,564
LIHTC - Tier 2 Pleasant Grove TCAC 40% AMI % of Units: 12.50% NOT SUBSIDIZED Unit
Type Number
Unit Floor
Area
Actual
Rent
TCAC
AMI %
Per Unit
Monthly
Gross Rent
Per Unit
Regulatory
Net Rent
Per Unit
Actual Net
Rent
Total
Monthly
Net Rent
Total
Annual Net
Rent
Number of
Subsidized
Units
Per Unit
Net
Subsidy
Rents
Per Unit
Subsidy
Increment
Total
Monthly
Subsidy
Total
Annual
Subsidy
Total
Annual
Income
1BR 2 608 40.0% 804 743 743 1,486 17,832 0 0 0 0 0 17,832 2BR 2 850 40.0% 965 890 890 1,780 21,360 0 0 0 0 0 21,360 3BR 2 1,095 40.0% 1,115 1,028 1,028 2,056 24,672 0 0 0 0 0 24,672 TOTAL 6 0 5,322 63,864 0 0 0 63,864
LIHTC - Tier 3 Pleasant Grove TCAC 50% AMI % of Units: 45.83% NOT SUBSIDIZED Unit
Type Number
Unit Floor
Area
Actual
Rent
TCAC
AMI %
Per Unit
Monthly
Gross Rent
Per Unit
Regulatory
Net Rent
Per Unit
Actual Net
Rent
Total
Monthly
Net Rent
Total
Annual Net
Rent
Number of
Subsidized
Units
Per Unit
Net
Subsidy
Rents
Per Unit
Subsidy
Increment
Total
Monthly
Subsidy
Total
Annual
Subsidy
Total
Annual
Income
1BR 7 608 50.0% 1,005 945 944 6,608 79,296 0 0 0 0 0 79,296 2BR 7 850 50.0% 1,206 1,131 1,131 7,917 95,004 0 0 0 0 0 95,004 3BR 8 1,095 50.0% 1,393 1,307 1,306 10,448 125,376 0 0 0 0 0 125,376 TOTAL 22 24,973 299,676 0 0 0 299,676
LIHTC - Tier 4 Pleasant Grove TCAC 60% AMI % of Units: 25.00% NOT SUBSIDIZED Unit
Type Number
Unit Floor
Area
Actual
Rent
TCAC
AMI %
Per Unit
Monthly
Gross Rent
Per Unit
Regulatory
Net Rent
Per Unit
Actual Net
Rent
Total
Monthly
Net Rent
Total
Annual Net
Rent
Number of
Subsidized
Units
Per Unit
Net
Subsidy
Rents
Per Unit
Subsidy
Increment
Total
Monthly
Subsidy
Total
Annual
Subsidy
Total
Annual
Income
1BR 4 608 60.0% 1,206 1,146 1,145 4,580 54,960 0 0 0 0 0 54,960 2BR 4 850 60.0% 1,447 1,372 1,372 5,488 65,856 0 0 0 0 0 65,856 3BR 4 1,095 60.0% 1,672 1,586 1,585 6,340 76,080 0 0 0 0 0 76,080 TOTAL 12 16,408 196,896 0 0 0 196,896
Staff Units - Site 1 Pleasant Grove
Unit
Type Number
Unit Floor
Area
Actual
Rent
TCAC
AMI %
Per Unit
Monthly
Gross Rent
Per Unit
Regulatory
Net Rent
Per Unit
Actual Net
Rent
Total
Monthly
Net Rent
Total
Annual Net
Rent
2BR 1 850 0.0% 0 0 0 0 0
TOTAL 1 0 0

TOTAL RESIDENTIAL INCOME
Number
Total Monthly
Net Rent
Total
Annual Net
Rent
Monthly
Section 8
Income
Annual
Section 8
Income
Monthly
NA Income
Annual NA
Income
Monthly
Test C
Income
Annual
Test C
Income
Monthly
Test D
Income
Annual
Test D
Income
Grand
Total
Income
Total Floor
Area
LIHTC 48 51,978 623,736 14,772 177,264 0 0 0 0 0 0 801,000 41,335 Non-LIHTC 0 0 0 0 0 0 0 0 0 0 0 0 0
Staff Units 1 0 0 0 0 0 0 0 0 0 0 0 850
TOTAL 49 51,978 623,736 14,772 177,264 0 0 0 0 0 0 801,000 42,185

MISCELLANEOUS INCOME SUBSIDIZED UNIT MIX SUMMARY
Per Unit Per Month Monthly Total Annual Total
Laundry / Vending 10.00 490 5,880
Other 0.00 0 0
1BR 2 0 0 0 13 15
TOTAL 10.00 490 5,880 2BR 3 0 0 0 14 17
3BR 3 0 0 0 14 17
TOTAL 8 0 0 0 41 49
Pleasant Grove - Phase 1
Total Units
Units
Without
Subsidy
Units With
Test D
Units With
Test C
Units With
NA
Units With
Unit Type Section 8

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Calculation of Tax Credits Version: Construction Closing Draft

FEDERAL CALIFORNIA

CONST/ CONST/

ACQUISITION REHAB TOTAL ACQUISITION REHAB TOTAL

TOTAL ELIGIBLE COSTS 0 29,146,904 29,146,904 0 0 0
Less:
50% Energy Investment Tax Credit (Res. Portion) 0 0 0 0 0 0 Historic Tax Credit (Res. Portion) 0 0 0 0
Non-Eligible Federal Financing 0 0 0 0 0 0
Non-Eligible Grants 0 0 0 0 0 0
Soft Loan Basis Deduction 0 0 0 0 0 0
Voluntary Reduction for Tie-Breaker 0 (8,954,499) (8,954,499) 0 0 0

ELIGIBLE BASIS 0 20,192,405 20,192,405 0 0 0
Threshold Basis Limit 28,357,927
REQUESTED UNADJUSTED ELIGIBLE BASIS (For Tiebreaker) 0 20,192,405 20,192,405 0 0 0 HIGH COST ADJUSTMENT (Y or N) Y 100.0% 130.0% 100.0% 100.0% SADDA 2023
ADJUSTED ELIGIBLE BASIS 0 26,250,126 26,250,126 0 0 0
APPLICABLE FRACTION* 100.0% 100.0% 100.0% 100.0%

QUALIFIED CREDIT BASIS 0 26,250,126 26,250,126 0 0 0
CREDIT RATE (TCAC UNDERWRITING) Total State 13.00% 13.00% Annual Federal / Yr 1-3 State 9.00% 9.00% 4.00% 4.00%
Yr 4 State 1.00% 1.00%
MAX. POTENTIAL FEDERAL CREDIT (No Vol Basic Reduct/Actual Rate) Credit Rates 9.00% 9.00%
Potential Credit 0 3,410,188 3,410,188
Credit Rate Locked? YES
Oct-23
MAX. CREDIT AMOUNT PER TCAC UNDERWRITING
Annual Federal / Yr 1 State 0 2,362,511 2,362,511 0 0 0

ACTUAL TCAC CREDIT RESERVATION
Annual Federal / Total State N/A N/A 2,294,015 N/A N/A N/A MAXIMUM ALLOWABLE CREDITS (Lesser of above)
Annual Federal / Total State 0 2,294,015 2,294,015 0
MAXIMUM ALLOWABLE - TEN YEAR TOTAL 22,940,150 0
TOTAL STATE + FEDERAL LIHTC AMOUNTS - 10 YEARS
Total Federal + State 22,940,150 Blended Credit Request: 2,294,015 General Partner Share 0.01% 2,294 Est. 125% Target for Capital: 3,218,739 Limited Partner Share 99.99% 22,937,856 Credit Request Under / (Over) Geographic Region: 924,724 FIRST YEAR CREDIT CALCULATION (Federal)
Actual Basis Method? Y Acquisition Rehab/NC "A" Bldgs: Acq Rehab/NC "B" Bldgs: Acq Rehab/NC Maximum Potential Federal Credit w/ Actual Basis-Annual 0 3,410,188 0 3,410,188 0 0 Wgt Avg Lease-up (from Page 7) 98.4% 98.4% 0.0% 0.0%
Maximum Potential Prorated Credit w/ Actual Basis 0 3,356,904 0 0 TCAC Credit Reservation-Annual 0 2,294,015 0 2,294,015 0 0 First Year Credit (Lesser of Above) 0 2,294,015 0 0
ENERGY INVESTMENT TAX CREDIT (Solar PV) *APPLICABLE FRACTION Total PV Hard Costs 0
Related Soft Costs (Eng, Interst, - Number of Total
Related Developer Fee - Units Fraction Sq Ft Fraction
Total Depreciable Basis - LIHTC 48 100.0000% 41,335 100.0000% less: Grants/Rebates - Non-LIHTC 0 0.0000% 0 0.0000%
Tax-Exempt Portion 0.01%
less: Tax-Exempt Portion - TOTAL 48 100.0000% 41,335 100.0000% Net Basis for Business Tax Credit -
Credit Percentage 0.0%
Applicable Fraction 100.0000%
Total Credit 0 (Lesser of Low Income
Residential Portion of Credit 0 Units or Sq Ft %)
Pleasant Grove - Phase 1

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Base Year Income & Expense Version: Construction Closing Draft

INCOME
Scheduled Gross Income - Residential 623,736
Total Gross Subsidy Income - Section 8 177,264
Misc. Income 5,880
Vacancy Loss - Residential 5.00% (31,481)
Vacancy Loss - Section 8 5.00% (8,863)
EFFECTIVE GROSS INCOME 766,536

EXPENSES - RESIDENTIAL
Administrative
Advertising 1,470
Legal 2,500
Accounting/Audit 13,500
Security 0
Other: Misc. Admin 13,275
Total Administrative 30,745
Management Fee 35,280
Utilities
Fuel 0
Gas 0
Electricity 15,000
Water/Sewer 38,000
Resident Utility Reimbursement 0
Total Utilities 53,000
Payroll/Payroll Taxes
On-Site Manager/Office Admin 55,214
Maintenance Payroll 54,974
Manager Unit Expense/(Credit) 0
Payroll Taxes/Benefits 36,460
Total Payroll/Payroll Taxes 146,648
Insurance 83,250
Maintenance
Painting 250
Repairs 17,990
Trash Removal 17,000
Exterminating 1,800
Grounds 17,500
Elevator 7,000
Fire Protection 5,000
Total Maintenance 66,540
Other
Special Assessements 0
Misc. Tax/License 0
SPONSOR OPEX INFLATOR TO COMPLETION 0
Total Other 0
Resident Services
Tenant Services 45,000
Tenant Activities 0
0 Total Resident Services 45,000
Replacement Reserve 22,050
Real Estate Taxes 52,000
TOTAL EXPENSES - RESIDENTIAL 534,513
Per Unit Per Annum (incl. Reserves) 10,908
Per Unit Per Annum (w/o taxes/res/svc)) 8,479
TCAC Minimum (w/o taxes/res/svc) 5,000
TOTAL EXPENSES - COMMERCIAL 0
NET AVAILABLE INCOME 232,023
ADJUSTED NET AVAILABLE INCOME: TOTAL 232,023
ADJUSTED NET AVAILABLE INCOME: NET OF OP SUBSIDY 63,622 Debt Service Coverage Ratio 1.30
AVAILABLE FOR DEBT SERVICE (NET OF OP SUBSIDY) 48,940
AVAILABLE FOR DEBT SERVICE (OP SUBSIDY OVERHANG) 129,539 NET AVAILABLE INCOME AFTER SENIOR DEBT SERVICE 53,544
Pleasant Grove - Phase 1

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Mortgage Calculation/Bond Ratios Version: Construction Closing Draft

TRANCHE A
Uses baseline year NOI; includes annual fees
Financing Type: Century Conventional Perm Loan
Underwriting Maximum
Constraint Loan Amount
Rate: 7.440%
Debt Service Coverage 1.30 1,854,688 Term (mths): 240
Lender Commitment NA NOI for DS: 232,023
Max PMT @ DSCR: 178,479
MAXIMUM MORTGAGE 1,854,688 Annual Fees: 0
Annual DS Payment: 178,479
INTEREST RATE STACK TRANCHE A TRANCHE B 221(D)(4) SELECTED Base Rate 6.8400% 6.8400% 4.2500% 6.8400%
Cushion 0.1500% 0.1500% 0.7500% 0.1500%
Issuer 0.0000% 0.0000% 0.0000% 0.0000%
Trustee 0.0000% 0.0000% 0.0000% 0.0000%
TOTAL 7.4400% 6.9900% 5.6500% 7.4400%
DCR 1.30 1.30 1.15 1.3
Pleasant Grove - Phase 1

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Lease-Up / Placed-in-Service Schedule Version: Construction Closing Draft

SCHEDULE
Dates
Months to
Milestone
Cumulative
Months
Start of Construction May 1, 2024 0 0
Completion October 1, 2025 17 17
100% Occupancy March 1, 2026 5 22
Conversion June 1, 2026 3 25
Form(s) 8609 December 1, 2026 6 31
LIHTC SCHEDULE LIHTC SCHEDULE -- 2/3 CREDITS OPERATIONS SCHEDULE SINGLE BUILDING / MULTIPLE BUILDINGS - GROUP A SINGLE BLDG / MULTIPLE BLDGS - GROUP A YEAR 0 1st Tax Credit Year: 2026 1st Tax Credit Year (2/3 Units): 2027 2025 Total # Units: 48
Completed Lease Up by Month
Total QO Total Vacated Cumulative Cumulative Month No. Units Percent Month No. Units Percent Month by Month by Month Occupancy Occupancy % Jan-27 0 0.0% Jan-25 0 0.0% Jan-26 39 0 39 81.25% Feb-27 0 0.0% Feb-25 0 0.0%
Feb-26 9 0 48 100.00% Mar-27 0 0.0% Mar-25 0 0.0%
Mar-26 0 0 48 100.00% Apr-27 0 0.0% Apr-25 0 0.0%
Apr-26 0 0 48 100.00% May-27 0 0.0% May-25 0 0.0%
May-26 0 0 48 100.00% Jun-27 0 0.0% Jun-25 0 0.0%
Jun-26 0 0 48 100.00% Jul-27 0 0.0% Jul-25 0 0.0%
Jul-26 0 0 48 100.00% Aug-27 0 0.0% Aug-25 0 0.0%
Aug-26 0 0 48 100.00% Sep-27 0 0.0% Sep-25 0 0.0%
Sep-26 0 0 48 100.00% Oct-27 0 0.0% Oct-25 10 20.4%
Oct-26 0 0 48 100.00% Nov-27 0 0.0% Nov-25 10 20.4%
Nov-26 0 0 48 100.00% Dec-27 0 0.0% Dec-25 10 20.4%
Dec-26 0 0 48 100.00% Total 0 0.0% Total 30 61.2%
1st Year Occupancy: 2026 98.44% Total Avg % Qual. Occ. 0.0% Total % Operating in First Year 10.20% PIS SCHEDULE FOR ACQ BASIS DEPRECIATION PIS SCHEDULE FOR REHAB/NC BASIS DEPRECIATION PIS SCHEDULE FOR SITEWORK/PERS. PROP. DEPRECIATION YEAR 0 YEAR 1 YEAR 1
Mid-Month Convention 2025 Mid-Month Convention 2025 Mid-Quarter Convention 2025 Bldg. PIS by Month Bldg. PIS by Month Bldg. PIS by Month Month No. Units Dep. Percent Month Building No. No. Units Percent Month Building No. No. Units Percent Jan-25 0 0.0% Jan-25 0 0 0.0% Jan-25 0 0 0.0%
Feb-25 0 0.0% Feb-25 0 0 0.0% Feb-25 0 0 0.0%
Mar-25 0 0.0% Mar-25 0 0 0.0% Mar-25 0 0 0.0%
Apr-25 0 0.0% Apr-25 0 0 0.0% Apr-25 0 0 0.0%
May-25 0 0.0% May-25 0 0 0.0% May-25 0 0 0.0%
Jun-25 0 0.0% Jun-25 0 0 0.0% Jun-25 0 0 0.0%
Jul-25 0 0.0% Jul-25 0 0 0.0% Jul-25 0 0 0.0%
Aug-25 0 0.0% Aug-25 0 0 0.0% Aug-25 0 0 0.0%
Sep-25 0 0.0% Sep-25 0 0 0.0% Sep-25 0 0 0.0%
Oct-25 49 4.2% Oct-25 1 49 4.2% Oct-25 1 49 0.0%
Nov-25 49 8.3% Nov-25 0 49 8.3% Nov-25 0 0 4.2%
Dec-25 49 8.3% Dec-25 0 49 8.3% Dec-25 0 0 8.3%
TOTAL 49 20.8% TOTAL 49 20.8% TOTAL 49 12.5%
Total Avg % PIS Y1 20.8% Total Avg % PIS Y1 20.8% Total Avg % PIS Y1 12.5% Pleasant Grove - Phase 1

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Calculation of Net Syndication Proceeds Version: Construction Closing Draft As of Closing
Total Federal Credit (10 yr) & State Credit 22,940,150 0 Total Federal Credit 22,940,150 0
Total State Credit 0 0
Gross Proceeds (Total) 21,678,000 0
Gross Proceeds - Federal Credit 21,676,274 0
Gross Proceeds - State Credit 0 0
Gross Proceeds (net of Energy/Historic Credit Proceeds) 21,678,000 0 Less: LP Syndication Costs
Attorney 60,000
Accountant 15,000
Consulting 108,500
Other:

Total Syndication Costs 183,500 0
Total Syndication Costs/Gross Proceeds 0.01 % (Syndication Load) 0.00000% Net Proceeds 21,494,500 0
Net Proceeds/Total Fed and State Credit 0.93698 tax credit price 0.00000 Gross Proceeds (Total)/Total Fed and State Credit 0.94498 tax credit price 0.00000 Gross Proceeds - Federal/State Disaggregated
Federal 0.94500 tax credit price 1.00000
State 0.88000 tax credit price 0.70000
Net Proceeds - Federal/State Disaggregated
Federal 0.93691 tax credit price 0.00000
State - tax credit price 0.00000
Total Equity
Gross Proceeds from LIHTC 21,678,000
Gross Proceeds from Energy Credit 0
Gross Proceeds from Historic Credit 0
Total Equity 21,678,000
Pleasant Grove - Phase 1

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TCAC Calculations & Scoring Version: Construction Closing Draft

THRESHOLD BASIS LIMIT
County: Placer TCAC Project #: CA-23-085
9% or 4% credits: 9% CDLAC Project #:

Year: 2024
Base Limits for Geographic Region Threshold Basis Limit for This Project Per Unit
Unit Type 9% 4% Unit Type # Units Basis Limit Total
1 BR 382,666 382,666 1 BR 15 382,666 5,739,990
2 BR 461,600 461,600 2 BR 17 461,600 7,847,200
3 BR 590,848 590,848 3 BR 17 590,848 10,044,416
49 23,631,606
Energy/Resource Efficiency Boosts Additional Basis Adjustments Boost for Prevailing Wage 0.0% 0
Renewables (50% tot./90% area) 0% Boost for Project Labor Agreement 0.0% 0 Renewables (75% CA/90% area) 0% Boost for Parking beneath Units 0.0% 0 Title 24 + 15% 0% Boost for Childcare 0.0% 0
Post-rehab improvement > 80% 0% Boost for 100% Special Needs 0.0% 0 Greywater landscaping 0% Boost for elevator service 10.0% 2,363,161 Community gardens > 60 s.f. 0% Boost for Type I construction 0.0% 0 Natural flooring kitchens 0% Boost for Type III construction 0.0% 0 Natural flooring common area 0% Subtotal Boost 10.0%
EPA Indoor Air Plus Program met 0% Boost for Energy / Resource Efficiency 0.0% 0 Toxic/Seismic Abatement Costs 0.0% 0
Local Development Impact Fees 0
Subtotal Efficiency (Max 10%) 0% High Opportunity Area 10% 2,363,161 Total Threshold Basis Limit 28,357,927
Potential Eligible Basis 29,146,904
Eligible Basis Surplus/(Deficit) (788,976)

TCAC HIGH COST TEST
Federal Credit CA State Credit HCD 2017 UMR
Total Eligible Basis 29,146,904 29,146,904 29,146,904
Total Adjusted TBL 28,357,927 28,357,927 28,357,927
Percentage of ATBL 102.78% 102.78% 102.78%
Amount Over/(Under) 130% Limit (160% Limit for HCD) (7,718,402) (7,718,402) (16,225,780)

TCAC POINTS
Lowest Income Points
Rural Project? N
Number of Percent of Percentage of Percent of Income Points Earned Targeted Tax Area Median Units to Total Targeted Units to Credit Units Income (AMI) Units Total Tax Credit
(30% - 55%) (before rounding Units (exclusive
down) of mgr units)
8 30 16.67 15 22.5
6 40 12.50 10 10
22 50 45.83 40 20
36 Total Lowest Income Points (No Cap) 52.5
Total Lowest Income Actual Points 50
Lowest Income Bonus Points Total @ 30% AMI Required for Points 5 Bedroom
Selection
Total Number of
Tax Credit Units
per Bedroom Size
Number of
Targeted Tax
Credit Units @
30% AMI
Percentage of
Units to Total
Units (by bedroom
size) 10% by Unit Type
Minimum Units
Required at /
below 30% AMI
3 BR 17 3 0.1765 2.0000 2.0000 Pass
2 BR 16 3 0.1875 2.0000 2.0000 Pass
1 BR 15 2 0.1333 2.0000 1.0000 Pass
Total 48 8
Total Lowest Income Bonus Points 2

TCAC TIEBREAKER
Leveraged Soft Resources
Committed Eligible Public Soft Funds 7,550,000 Net of Accrued Interest Value of Donated Land / Fee Waiver 2,142,660
Value of Committed Rental Subsidy Leveraging 1,430,604
Less: Non Project-Specific Offsite Work (75,000)
Less: Purchase Price in Excess of Appraisal 0
Residential Percentage of TDC 100.00%
Subtotal Residential Eligible Public Funds 11,048,264
* Percentage Large Project Boost 100.00%
Adjusted Residential Eligible Public Funds 11,048,264
Residential Total Costs of Development 33,252,538 Net of Accrued Interest Ratio of Leveraged Soft Resources / TDC 33.23% and offsites Requested Unadjusted Eligible Basis
Requested Unadjusted Eligible Basis 19,606,967
Residential Total Costs of Development 33,252,538 Net of Accrued Interest Ratio of Basis/TDC 58.96% and offsites
Inverse of Ratio Divided by 2 20.52%
Base Tiebreaker Score 53.74%
High Opportunity Boost 10.00%
Total Tiebreaker Score 63.74%
Tiebreaker at Application 64.58%
-0.84%

CAPITALIZED OPERATING SUBSIDY VALUE
Non-SN SN
AMI levels used for TCAC underwriting: 40% 30%
SUBSIDY #1: Section 8

PER UNIT PER UNIT TOTAL
# OF NON-SN # OF SUBSIDIZED SUBSIDIZED INCREMENTAL INCREMENTAL INCREMENTAL UNIT TYPE SUBSID. UNITS 40% TCAC RENTS SN UNITS 30% TCAC RENTS RENTS 40% RENT 30% RENT MONTHLY RENT 1BR 2 804 0 603 1,998 1,194 1,395 2,387
2BR 3 965 0 724 2,512 1,547 1,788 4,642
3BR 3 1,114 0 836 3,041 1,927 2,205 5,781
TOTAL ANNUAL RENT 153,718
(less) VACANCY 5.00% (7,686)
NET TOTAL RENT 146,032

CAPITALIZED VALUE
Term (TCAC assumption) 15
Interest Rate (TCAC assumption) 4.00%
DCR (TCAC assumption) 1.15
CAPITALIZED VALUE OF RENTAL SUBSIDY FOR TCAC TIEBREAKER 1,430,604 Pleasant Grove - Phase 1

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15-Year Cash Flow Version: Construction Closing DraftAssumptions Rent Increase: Residential Tenant Rents 2.00% Rent Increase - Section 8 2.00% Perm Loan - % Debt Svc Yr -1 0.0% Expenses Increase: 3.00% Rent Increase - Test C 2.00% Perm Loan - % Debt Svc Yr 1 58.3% Reserve Increase: 0.00% Rent Increase - Test D 2.00% Perm Loan - % Debt Svc Yr 2 100.0% Perm Loan - % Debt Svc Yr 3 100.0%
Credit Period Year: (1) 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 Aggregrate Annual Rent Increase 866.97% 3.59% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%GROSS POTENTIAL INCOME - RESIDENTIAL 0 63,647 615,442 637,509 650,259 663,264 676,530 690,060 703,862 717,939 732,298 746,944 761,882 777,120 792,662 808,516 824,686 841,180 858,003Incremental Income: Section 8 0 18,088 174,907 181,178 184,802 188,498 192,268 196,113 200,035 204,036 208,117 212,279 216,525 220,855 225,272 229,778 234,373 239,061 243,842Misc. Income 0 600 5,802 6,010 6,130 6,253 6,378 6,505 6,635 6,768 6,903 7,041 7,182 7,326 7,472 7,622 7,774 7,930 8,088Vacancy Loss - Residential 5.0% 0 (3,212) (31,062) (32,176) (32,819) (33,476) (34,145) (34,828) (35,525) (36,235) (36,960) (37,699) (38,453) (39,222) (40,007) (40,807) (41,623) (42,455) (43,305)Vacancy Loss - Section 8 5.0% 0 (904) (8,745) (9,059) (9,240) (9,425) (9,613) (9,806) (10,002) (10,202) (10,406) (10,614) (10,826) (11,043) (11,264) (11,489) (11,719) (11,953) (12,192)GROSS EFFECTIVE INCOME 0 78,218 756,344 783,462 799,132 815,114 831,417 848,045 865,006 882,306 899,952 917,951 936,310 955,036 974,137 993,620 1,013,492 1,033,762 1,054,437TOTAL EXPENSES 0 52,292 506,164 529,453 545,336 561,696 578,547 595,904 613,781 632,194 651,160 670,695 690,816 711,540 732,886 754,873 777,519 800,845 824,870NET OPERATING INCOME 0 25,926 250,180 254,010 253,795 253,418 252,869 252,141 251,225 250,112 248,792 247,256 245,494 243,496 241,251 238,747 235,973 232,917 229,567 REPLACEMENT RESERVE 22,050 0 2,250 21,713 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 NET REMAINING INCOME 0 23,676 228,467 231,960 231,745 231,368 230,819 230,091 229,175 228,062 226,742 225,206 223,444 221,446 219,201 216,697 213,923 210,867 207,517PERM LOAN - TRANCHE A Principal Balance (Ending) 1,854,000 0 0 1,833,446 1,789,979 1,743,165 1,692,748 1,638,448 1,579,968 1,516,986 1,449,155 1,376,101 1,297,423 1,212,687 1,121,428 1,023,142 917,290 803,288 680,509 548,277Series A Bond P&I 178,413 0 0 89,207 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 Interest Payment 0 0 68,653 134,946 131,599 127,995 124,114 119,933 115,431 110,582 105,359 99,735 93,677 87,154 80,128 72,561 64,411 55,634 46,181 Principal Payment 0 0 20,554 43,467 46,814 50,418 54,299 58,480 62,982 67,831 73,054 78,678 84,736 91,259 98,285 105,852 114,002 122,779 132,232TOTAL SERIES A DEBT SERVICE 0 0 89,207 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 NET CASH FLOW 0 23,676 139,261 53,547 53,332 52,955 52,406 51,678 50,762 49,649 48,329 46,793 45,031 43,033 40,788 38,284 35,510 32,454 29,104CASH FLOW (RESERVED)/RELEASED FOR CONVERSION 0 (23,676) 23,676 0 0 0 0 0Remaining Net Cash Flow 0 0 162,937 53,547 53,332 52,955 52,406 51,678 50,762 49,649 48,329 46,793 45,031 43,033 40,788 38,284 35,510 32,454 29,104 Debt Service Coverage Ratio (All Debt) N/A N/A 1.30 1.30 1.30 1.30 1.29 1.29 1.28 1.28 1.27 1.26 1.25 1.24 1.23 1.21 1.20 1.18 1.16

DISTRIBUTION OF CASH FLOW
LP AMF 1 Annual Amt: 7,500 0 0 4,375 7,725 7,957 8,195 8,441 8,695 8,955 9,224 9,501 9,786 10,079 10,382 10,693 11,014 11,344 11,685 12,035 Inflator: 3.00%
DDF Annual Amt: 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 DDF Note Interest Rate: 0.00%
GP PMF 2 Annual Amt: 40,000 0 0 23,333 41,200 42,436 43,709 43,965 42,984 41,807 40,425 38,828 37,007 34,952 32,651 30,094 27,270 24,165 20,769 17,069 Inflator: 3.00%
Residual Receipts Loans Total % 50.00%City of Roseville - LHTF 79.47% 0 0 53,733 1,836 1,168 417 0 0 0 0 0 0 0 0 0 0 0 0 0City of Roseville - PIP Loan 20.53% 0 0 13,881 474 302 108 0 0 0 0 0 0 0 0 0 0 0 0 0General Partner 90.00% 0 0 60,853 2,080 1,323 473 0 0 0 0 0 0 0 0 0 0 0 0 0Limited Partner 10.00% 0 0 6,761 231 147 53 0 0 0 0 0 0 0 0 0 0 0 0 0 Pleasant Grove - Phase 1

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Schedule of Outstanding Debt and Reserves - Book Basis Version: Construction Closing Draft Credit Period Year: (1) 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 1904 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 Century Conventional Perm Loan AMORTIZING PERIOD ONLY
Beginning Balance 1,854,000 0 0 1,854,000 1,833,446 1,789,979 1,743,165 1,692,748 1,638,448 1,579,968 1,516,986 1,449,155 1,376,101 1,297,423 1,212,687 1,121,428 1,023,142 917,290 803,288 680,509Interest Paid (Interest Rate Only) 7.440% 0 0 68,653 134,946 131,599 127,995 124,114 119,933 115,431 110,582 105,359 99,735 93,677 87,154 80,128 72,561 64,411 55,634 46,181Annual P&I COMPOUND 0 0 89,207 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413Ending Balance 0 0 1,833,446 1,789,979 1,743,165 1,692,748 1,638,448 1,579,968 1,516,986 1,449,155 1,376,101 1,297,423 1,212,687 1,121,428 1,023,142 917,290 803,288 680,509 548,277 City of Roseville - LHTF PERM SOURCE ONLY?: N
Beginning Balance 6,000,000 6,000,000 6,120,000 6,300,000 6,426,267 6,604,431 6,783,262 6,962,845 7,142,845 7,322,845 7,502,845 7,682,845 7,862,845 8,042,845 8,222,845 8,402,845 8,582,845 8,762,845 8,942,845 9,122,845Interest Accrued @ 3.000% 120,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000Residual Receipts Payment SIMPLE 0 0 (53,733) (1,836) (1,168) (417) 0 0 0 0 0 0 0 0 0 0 0 0 0Mandatory Minimum Payment 0.00% 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Ending Balance CONSTRUCT AOB: 100% 6,120,000 6,300,000 6,426,267 6,604,431 6,783,262 6,962,845 7,142,845 7,322,845 7,502,845 7,682,845 7,862,845 8,042,845 8,222,845 8,402,845 8,582,845 8,762,845 8,942,845 9,122,845 9,302,845 City of Roseville - PIP Loan PERM SOURCE ONLY? N
Beginning Balance 1,550,000 1,550,000 1,581,000 1,627,500 1,660,119 1,706,145 1,752,343 1,798,735 1,845,235 1,891,735 1,938,235 1,984,735 2,031,235 2,077,735 2,124,235 2,170,735 2,217,235 2,263,735 2,310,235 2,356,735Interest Accrued @ 3.000% 31,000 46,500 46,500 46,500 46,500 46,500 46,500 46,500 46,500 46,500 46,500 46,500 46,500 46,500 46,500 46,500 46,500 46,500 46,500Residual Receipts Payment SIMPLE 0 0 (13,881) (474) (302) (108) 0 0 0 0 0 0 0 0 0 0 0 0 0Mandatory Minimum Payment 0.00% 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Ending Balance CONSTRUCT AOB: 100% 1,581,000 1,627,500 1,660,119 1,706,145 1,752,343 1,798,735 1,845,235 1,891,735 1,938,235 1,984,735 2,031,235 2,077,735 2,124,235 2,170,735 2,217,235 2,263,735 2,310,235 2,356,735 2,403,235 TOTAL OUTSTANDING DEBT (BOOK BASIS) 7,701,000 7,927,500 9,919,832 10,100,554 10,278,771 10,454,328 10,626,528 10,794,548 10,958,066 11,116,735 11,270,181 11,418,003 11,559,767 11,695,008 11,823,223 11,943,870 12,056,368 12,160,089 12,254,357LP AMF 1 Accruals 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0DDF Accruals 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0GP PMF 2 Accruals 0 0 0 0 0 0 1,055 4,443 10,398 19,169 31,011 46,195 65,000 87,718 114,654 146,126 182,464 224,013 271,132TOTAL OUTSTANDING DEBT+ACCRUALS (BOOK BASIS) 7,701,000 7,927,500 9,919,832 10,100,554 10,278,771 10,454,328 10,627,584 10,798,991 10,968,465 11,135,904 11,301,193 11,464,198 11,624,767 11,782,726 11,937,876 12,089,996 12,238,832 12,384,102 12,525,489RESERVE BALANCESCapitalized Replacement Reserve Deed-Secured? Y Previous Balance 0 0 2,250 24,008 46,538 69,518 92,959 116,868 141,255 166,130 191,503 217,383 243,781 270,706 298,170 326,184 354,758 383,903 413,631Deposit to Reserve 0 2,250 21,713 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050Interest on Reserve 2.0% 0 0 45 480 931 1,390 1,859 2,337 2,825 3,323 3,830 4,348 4,876 5,414 5,963 6,524 7,095 7,678 8,273Withdrawal from Reserve 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Ending Balance 0 0 2,250 24,008 46,538 69,518 92,959 116,868 141,255 166,130 191,503 217,383 243,781 270,706 298,170 326,184 354,758 383,903 413,631 443,953 Capitalized Operating Reserve (3 mos.) Deed-Secured? N
Previous Balance 0 0 199,720 203,714 207,788 211,944 216,183 220,506 224,917 229,415 234,003 238,683 243,457 248,326 253,293 258,358 263,526 268,796 274,172Deposit to Reserve 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Interest on Reserve 2.0% 0 0 3,994 4,074 4,156 4,239 4,324 4,410 4,498 4,588 4,680 4,774 4,869 4,967 5,066 5,167 5,271 5,376 5,483Withdrawal from Reserve 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Ending Balance 199,720 0 0 203,714 207,788 211,944 216,183 220,506 224,917 229,415 234,003 238,683 243,457 248,326 253,293 258,358 263,526 268,796 274,172 279,656 Pleasant Grove - Phase 1

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Schedule of Outstanding Debt - Tax Basis Version: Construction Closing Draft Credit Period Year: (1) 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 0 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 Century Conventional Perm Loan AMORTIZING PERIOD ONLY
Beginning Balance 1,854,000 0 0 1,854,000 1,833,446 1,789,979 1,743,165 1,692,748 1,638,448 1,579,968 1,516,986 1,449,155 1,376,101 1,297,423 1,212,687 1,121,428 1,023,142 917,290 803,288 680,509Interest Paid (Interest Rate Only) 7.440% 0 0 68,653 134,946 131,599 127,995 124,114 119,933 115,431 110,582 105,359 99,735 93,677 87,154 80,128 72,561 64,411 55,634 46,181Annual P&I 0 0 89,207 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413 178,413Ending Balance 0 0 1,833,446 1,789,979 1,743,165 1,692,748 1,638,448 1,579,968 1,516,986 1,449,155 1,376,101 1,297,423 1,212,687 1,121,428 1,023,142 917,290 803,288 680,509 548,277 City of Roseville - LHTF PERM SOURCE ONLY?: N
Beginning Balance 6,000,000 6,000,000 6,071,509 6,180,050 6,236,799 6,346,459 6,458,748 6,573,795 6,691,316 6,810,938 6,932,698 7,056,635 7,182,788 7,311,196 7,441,899 7,574,940 7,710,358 7,848,198 7,988,501 8,131,313Interest Accrued @ 1.788% 71,509 108,541 110,482 111,496 113,457 115,464 117,521 119,622 121,760 123,937 126,153 128,408 130,704 133,040 135,419 137,839 140,304 142,812 145,365Residual Receipts Payment COMPOUND 0 0 (53,733) (1,836) (1,168) (417) 0 0 0 0 0 0 0 0 0 0 0 0 0Mandatory Minimum Payment 0.00% 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Ending Balance CONSTRUCT AOB: 100% 6,071,509 6,180,050 6,236,799 6,346,459 6,458,748 6,573,795 6,691,316 6,810,938 6,932,698 7,056,635 7,182,788 7,311,196 7,441,899 7,574,940 7,710,358 7,848,198 7,988,501 8,131,313 8,276,678 City of Roseville - PIP Loan PERM SOURCE ONLY? N
Beginning Balance 1,550,000 1,550,000 1,568,473 1,596,513 1,611,173 1,639,502 1,668,510 1,698,230 1,728,590 1,759,492 1,790,947 1,822,964 1,855,554 1,888,726 1,922,491 1,956,859 1,991,843 2,027,451 2,063,696 2,100,589Interest Accrued @ 1.788% 18,473 28,040 28,541 28,803 29,310 29,828 30,360 30,902 31,455 32,017 32,589 33,172 33,765 34,369 34,983 35,609 36,245 36,893 37,553Residual Receipts Payment COMPOUND 0 0 (13,881) (474) (302) (108) 0 0 0 0 0 0 0 0 0 0 0 0 0Mandatory Minimum Payment 0.00% 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Ending Balance CONSTRUCT AOB: 100% 1,568,473 1,596,513 1,611,173 1,639,502 1,668,510 1,698,230 1,728,590 1,759,492 1,790,947 1,822,964 1,855,554 1,888,726 1,922,491 1,956,859 1,991,843 2,027,451 2,063,696 2,100,589 2,138,142 TOTAL OUTSTANDING DEBT (TAX BASIS) 7,639,982 7,776,563 9,681,418 9,775,940 9,870,423 9,964,773 10,058,354 10,150,398 10,240,631 10,328,754 10,414,442 10,497,344 10,577,077 10,653,227 10,725,343 10,792,939 10,855,485 10,912,411 10,963,097LP AMF 1 Accruals 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0DDF Accruals 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0GP PMF 2 Accruals 0 0 0 0 0 0 1,055 4,443 10,398 19,169 31,011 46,195 65,000 87,718 114,654 146,126 182,464 224,013 271,132TOTAL OUTSTANDING DEBT+ACCRUALS (TAX BASIS) 7,639,982 7,776,563 9,681,418 9,775,940 9,870,423 9,964,773 10,059,409 10,154,841 10,251,029 10,347,922 10,445,454 10,543,539 10,642,077 10,740,945 10,839,997 10,939,064 11,037,949 11,136,424 11,234,229 Pleasant Grove - Phase 1

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Net Cash Flow Fee Accruals Version: Construction Closing Draft Credit Period Year: (1) 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 1904 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 LP AMF 1
Beginning Accrual Balance - - - - - - - - - - - - - - - - - - -Current Year LP AMF 1 - - 4,375 7,725 7,957 8,195 8,441 8,695 8,955 9,224 9,501 9,786 10,079 10,382 10,693 11,014 11,344 11,685 12,035Total Payment - - (4,375) (7,725) (7,957) (8,195) (8,441) (8,695) (8,955) (9,224) (9,501) (9,786) (10,079) (10,382) (10,693) (11,014) (11,344) (11,685) (12,035)Ending Accrual Balance - - - - - - - - - - - - - - - - - - - Inflator:

Potential LP AMF 1: 7,500 3.00% 0 0 4,375 7,725 7,957 8,195 8,441 8,695 8,955 9,224 9,501 9,786 10,079 10,382 10,693 11,014 11,344 11,685 12,035 DDF
Beginning Accrual Balance - - - - - - - - - - - - - - - - - - -Current Year DDF Interest - - - - - - - - - - - - - - - - - - -Total Payment - - - - - - - - - - - - - - - - - - -Ending Accrual Balance - - - - - - - - - - - - - - - - - - - Interest Rate:

Potential DDF: 0 0.00% 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 GP PMF 2
Beginning Accrual Balance - - - - - - - 1,055 4,443 10,398 19,169 31,011 46,195 65,000 87,718 114,654 146,126 182,464 224,013Current Year GP PMF 2 - - 23,333 41,200 42,436 43,709 45,020 46,371 47,762 49,195 50,671 52,191 53,757 55,369 57,030 58,741 60,504 62,319 64,188Total Payment - - (23,333) (41,200) (42,436) (43,709) (43,965) (42,984) (41,807) (40,425) (38,828) (37,007) (34,952) (32,651) (30,094) (27,270) (24,165) (20,769) (17,069)Ending Accrual Balance - - - - - - 1,055 4,443 10,398 19,169 31,011 46,195 65,000 87,718 114,654 146,126 182,464 224,013 271,132 Inflator:

Potential GP PMF 2: 40,000 3.00% 0 0 23,333 41,200 42,436 43,709 45,020 46,371 47,762 49,195 50,671 52,191 53,757 55,369 57,030 58,741 60,504 62,319 64,188 TOTAL Cumulative to GP: 0 0 43,913 77,538 79,865 82,260 83,673 83,883 83,933 83,815 83,520 83,040 82,365 81,487 80,395 79,080 77,530 75,735 73,683 TOTAL Cumulative to LP: 0 0 4,375 7,725 7,957 8,195 8,441 8,695 8,955 9,224 9,501 9,786 10,079 10,382 10,693 11,014 11,344 11,685 12,035 Max to GP: 0 0 43,750 77,250 79,568 81,955 84,413 86,946 89,554 92,241 95,008 97,858 100,794 103,818 106,932 110,140 113,444 116,848 120,353 Excess GP Fees: 0 0 163 288 297 306 0 0 0 0 0 0 0 0 0 0 0 0 0 SCHEDULE OF RESERVE BALANCESCapitalized Replacement Reserve Deed-Secured? Y Previous Balance 0 0 2,250 24,008 46,538 69,518 92,959 116,868 141,255 166,130 191,503 217,383 243,781 270,706 298,170 326,184 354,758 383,903 413,631 Deposit to Reserve 0 2,250 21,713 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 22,050 Interest on Reserve 2.0% 0 0 45 480 931 1,390 1,859 2,337 2,825 3,323 3,830 4,348 4,876 5,414 5,963 6,524 7,095 7,678 8,273 Withdrawal from Reserve 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Ending Balance 0 0 2,250 24,008 46,538 69,518 92,959 116,868 141,255 166,130 191,503 217,383 243,781 270,706 298,170 326,184 354,758 383,903 413,631 443,953 Capitalized Operating Reserve (3 mos.) Deed-Secured? N
Previous Balance 0 0 199,720 203,714 207,788 211,944 216,183 220,506 224,917 229,415 234,003 238,683 243,457 248,326 253,293 258,358 263,526 268,796 274,172 Deposit to Reserve 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Interest on Reserve 2.0% 0 0 3,994 4,074 4,156 4,239 4,324 4,410 4,498 4,588 4,680 4,774 4,869 4,967 5,066 5,167 5,271 5,376 5,483 Withdrawal from Reserve 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Ending Balance 199,720 0 0 203,714 207,788 211,944 216,183 220,506 224,917 229,415 234,003 238,683 243,457 248,326 253,293 258,358 263,526 268,796 274,172 279,656 Pleasant Grove - Phase 1

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ALWAYS CHECK EXP'D INTEREST DURING CONSTRUCTION LINE DEP. BASIS SUMMED IN TABLE TO RIGHT OF P. 1-A Schedule of Deductions Version: Construction Closing DraftDepreciation Assumptions Building: Residential Building: Commercial Site Improvements Personal Property Proration Asset Life Method Asset Life Method Asset Life Method Asset Life Method Soft Costs Prorated into ADS 100.0% 30.0 straight line 30.0 straight line 90.0% 20 Yr SL 90.0% 9 Yr SL NC/Rehab, Sitework, and PPMACRS 0.0% 27.5 straight line 27.5 straight line 10.0% 15 Yr 150% DB 10.0% 5 Yr DDB Classes? Y

DEPRECIATION SCHEDULE
Credit Period Year: (1) 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Beginning Basis 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 30 years straight line - Res - Rehab/NC 23,735,925 0 164,833 791,197 791,197 791,197 791,197 791,197 791,197 791,197 791,197 791,197 791,197 791,197 791,197 791,197 791,197 791,197 791,197 791,197 Site Improvements (20 yr SL.) 4,611,837 0 28,824 230,592 230,592 230,592 230,592 230,592 230,592 230,592 230,592 230,592 230,592 230,592 230,592 230,592 230,592 230,592 230,592 230,592 Site Improvements (15 yr 150% decl. bal.) 512,426 0 231,873 28,055 25,250 22,725 20,452 18,407 18,155 18,155 18,155 18,155 18,155 18,155 18,155 18,155 18,155 2,269 0 0 Personal Property (9 yr SL) 261,748 0 3,635 29,083 29,083 29,083 29,083 29,083 29,083 29,083 29,083 25,448 0 0 0 0 0 0 0 0 Personal property (5 yr 200% decl. bal.) 29,083 0 17,741 4,537 2,722 1,922 1,922 240 0 0 0 0 0 0 0 0 0 0 0 0 SUBTOTAL 29,151,019 0 0 446,906 1,083,465 1,078,844 1,075,519 1,073,246 1,069,520 1,069,027 1,069,027 1,069,027 1,065,392 1,039,944 1,039,944 1,039,944 1,039,944 1,039,944 1,024,059 1,021,789 1,021,789AMORTIZATION SCHEDULE TCAC Application/Res/Monitoring Fee 113,851 0 0 7,590 7,590 7,590 7,590 7,590 7,590 7,590 7,590 7,590 7,590 7,590 7,590 7,590 7,590 7,590 0 0Financing Fees 264,042 0 0 122,920 7,268 7,268 7,268 7,268 7,268 7,268 7,268 7,268 7,268 7,268 7,268 7,268 7,268 7,268 7,268 7,268Title/Recording/Escrow - Permanent 20,000 0 0 583 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000Legal: Permanent Closing 25,000 0 0 729 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250 1,250Market/Rent Comp Study 25,000 0 0 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 0 0 0 0 0 0 0Legal: Organization of Partnership 5,000 0 0 5,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SUBTOTAL 452,893 0 0 0 139,323 19,608 19,608 19,608 19,608 19,608 19,608 19,608 19,608 19,608 17,108 17,108 17,108 17,108 17,108 9,518 9,518EXPENSED COSTS Audit/Cost Certification 15,000 0 15,000 0 0 0Marketing 148,000 0 148,000 0 0 0LP AMF 1 0 0 4,375 7,725 7,957 8,195 8,441 8,695 8,955 9,224 9,501 9,786 10,079 10,382 10,693 11,014 11,344 11,685 12,035GP PMF 2 0 0 23,333 41,200 42,436 43,709 43,965 42,984 41,807 40,425 38,828 37,007 34,952 32,651 30,094 27,270 24,165 20,769 17,069 SUBTOTAL 163,000 0 0 163,000 27,708 48,925 50,393 51,905 52,406 51,678 50,762 49,649 48,329 46,793 45,031 43,033 40,788 38,284 35,510 32,454 29,104 NOTE: PMF/CMF not expensed

INTEREST DEDUCTIONS
Interest - Tranche A Century Conventional Perm Loan 0 0 68,653 134,946 131,599 127,995 124,114 119,933 115,431 110,582 105,359 99,735 93,677 87,154 80,128 72,561 64,411 55,634 46,181Interest - City of Roseville - LHTF City of Roseville - LHTF 0 27,135 110,482 111,496 113,457 115,464 117,521 119,622 121,760 123,937 126,153 128,408 130,704 133,040 135,419 137,839 140,304 142,812 145,365Interest - City of Roseville - PIP Loan City of Roseville - PIP Loan 0 7,010 28,541 28,803 29,310 29,828 30,360 30,902 31,455 32,017 32,589 33,172 33,765 34,369 34,983 35,609 36,245 36,893 37,553Interest - Expensed Constr. Period Interest 0 272,555 454,258 0 0 SUBTOTAL 0 0 306,700 661,933 275,246 274,366 273,288 271,994 270,457 268,646 266,536 264,102 261,315 258,146 254,563 250,529 246,009 240,960 235,339 229,099TOTAL DEDUCTIONS 0 0 916,606 1,912,429 1,422,623 1,419,886 1,418,047 1,413,528 1,410,771 1,408,043 1,404,820 1,397,431 1,367,661 1,360,230 1,354,648 1,348,369 1,341,345 1,317,636 1,299,100 1,289,510 Pleasant Grove - Phase 1

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Analysis of Taxable Income Version: Construction Closing DraftAssumptions Marginal Tax Rate - Federal 21.0% Loss Reallocation (year 12):Marginal Tax Rate - State 0.0% GP Share: 0.01% Combined Effective Combined Marginal Tax Rate 21.0% LP Share: 99.99% Number of LP Capital Contributions 5
Credit Period Year: (1) 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 LOSSES
Net Operating Income 0 25,926 250,180 254,010 253,795 253,418 252,869 252,141 251,225 250,112 248,792 247,256 245,494 243,496 241,251 238,747 235,973 232,917 229,567Interest Income from Reserves 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Total Deductions 0 916,606 1,912,429 1,422,623 1,419,886 1,418,047 1,413,528 1,410,771 1,408,043 1,404,820 1,397,431 1,367,661 1,360,230 1,354,648 1,348,369 1,341,345 1,317,636 1,299,100 1,289,510Total Taxable Income (Loss) 0 (890,680) (1,662,250) (1,168,614) (1,166,090) (1,164,629) (1,160,659) (1,158,630) (1,156,818) (1,154,708) (1,148,639) (1,120,404) (1,114,736) (1,111,152) (1,107,119) (1,102,598) (1,081,664) (1,066,183) (1,059,943)Special Allocation of GP-Related Op Ex (see below) Years 1-11 Years 12-15 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0General Partner Share of Losses per LPA (pre-704(b)) 0.01% 0.01% 0 (89) (166) (117) (117) (116) (116) (116) (116) (115) (115) (112) (111) (111) (111) (110) (108) (107) (106)Limited Partner Share of Losses per LPA (pre-704(b)) 99.99% 99.99% 0 (890,591) (1,662,083) (1,168,497) (1,165,974) (1,164,512) (1,160,543) (1,158,514) (1,156,703) (1,154,593) (1,148,524) (1,120,292) (1,114,624) (1,111,041) (1,107,008) (1,102,488) (1,081,555) (1,066,077) (1,059,837) AFTER-TAX VALUE OF LOSSES Years 1-11 Years 12-15
Total Losses Allocated to GP (post-704(b)) 0.01% 0.01% 0 (89) (166) (117) (117) (116) (116) (116) (116) (115) (115) (112) (111) (111) (111) (110) (108) (1,066,183) (1,059,943)Total Losses Allocated to LP (post-704(b)) 99.99% 99.99% 0 (890,591) (1,662,083) (1,168,497) (1,165,974) (1,164,512) (1,160,543) (1,158,514) (1,156,703) (1,154,593) (1,148,524) (1,120,292) (1,114,624) (1,111,041) (1,107,008) (1,102,488) (1,081,555) 0 0After Tax Value of Losses 21.0% 0 187,043 349,072 245,409 244,879 244,572 243,738 243,312 242,932 242,489 241,214 235,285 234,094 233,342 232,495 231,546 227,149 223,898 222,588After-Tax Value of General Partner Losses 0 19 35 25 24 24 24 24 24 24 24 24 23 23 23 23 23 223,898 222,588After-Tax Value of Limited Partner Losses 0 187,024 349,038 245,384 244,854 244,548 243,714 243,288 242,908 242,465 241,190 235,261 234,071 233,319 232,472 231,522 227,127 0 0Limited Partner Share of Losses Per LPA 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99%

TAX CREDITS
Fed Tax Credits-Rehab/NC - Building A or Credit Year 1 100.0% 0 0 2,294,015 2,294,015 2,294,015 2,294,015 2,294,015 2,294,015 2,294,015 2,294,015 2,294,015 2,294,015 0 0 0 0State Tax Credits - Credit Year 1 100.0% 0 0 0 0 0 0 0 0 0(deduct state credit @ Federal MTR - Yr 1) 21.0% 0 0 0 0 0 0 0 0 0 TOTAL TAX CREDITS 0 0 2,294,015 2,294,015 2,294,015 2,294,015 2,294,015 2,294,015 2,294,015 2,294,015 2,294,015 2,294,015 0 0 0 0 0 0 0 General Partner Share 0.01% 0 0 229 229 229 229 229 229 229 229 229 229 0 0 0 0 0 0 0Limited Partner Share 99.99% 0 0 2,293,786 2,293,786 2,293,786 2,293,786 2,293,786 2,293,786 2,293,786 2,293,786 2,293,786 2,293,786 0 0 0 0 0 0 0(less) Reduction due to LP Capital Account Adjustment 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TOTAL AFTER-TAX BENEFITS 0 187,043 2,643,087 2,539,424 2,538,894 2,538,587 2,537,753 2,537,327 2,536,947 2,536,504 2,535,229 2,529,300 234,094 233,342 232,495 231,546 227,149 223,898 222,588 General Partner Share 0.01% 0 19 264 254 254 254 254 254 254 254 254 253 23 23 23 23 23 223,898 222,588Limited Partner Share 99.99% 0 187,024 2,642,823 2,539,170 2,538,640 2,538,333 2,537,500 2,537,074 2,536,693 2,536,250 2,534,976 2,529,047 234,071 233,319 232,472 231,522 227,127 0 0 Pleasant Grove - Phase 1

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Capital Account Analysis and Tax Liability - Sale Price Equals Debt Version: Construction Closing DraftLIMITED PARTNER Credit Period Year: (1) 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 SUMMARY OF LP ACCOUNTS AND LOSSESTotal Losses Allocated to LP 0 890,591 1,662,083 1,168,497 1,165,974 1,164,512 1,160,543 1,158,514 1,156,703 1,154,593 1,148,524 1,120,292 1,114,624 1,111,041 1,107,008 1,102,488 1,081,555 0 0 Ending LP Capital Account Balance 2,167,800 12,336,209 18,935,064 17,766,336 16,600,216 15,435,651 14,275,108 13,116,594 11,959,891 10,805,298 9,656,774 8,536,482 7,421,858 6,310,817 5,203,809 4,101,322 3,019,766 3,019,766 3,019,766 Ending LP Minimum Gain Balance 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MINIMUM GAIN ANALYSISAdjusted Basis 31,712,342 31,265,436 30,181,971 29,103,127 28,027,608 26,954,362 25,884,842 24,815,815 23,746,787 22,677,760 21,612,368 20,572,423 19,532,479 18,492,535 17,452,591 16,412,646 15,388,588 14,366,798 13,345,009Deed-Secured Cash Reserves 0 2,250 24,008 46,538 69,518 92,959 116,868 141,255 166,130 191,503 217,383 243,781 270,706 298,170 326,184 354,758 383,903 413,631 443,953Total Adjusted Basis plus Cash 31,712,342 31,267,686 30,205,979 29,149,665 28,097,127 27,047,321 26,001,710 24,957,070 23,912,918 22,869,263 21,829,751 20,816,204 19,803,186 18,790,705 17,778,775 16,767,404 15,772,490 14,780,429 13,788,962Outstanding Nonrecourse Debt 7,639,982 7,776,563 9,681,418 9,775,940 9,870,423 9,964,773 10,058,354 10,150,398 10,240,631 10,328,754 10,414,442 10,497,344 10,577,077 10,653,227 10,725,343 10,792,939 10,855,485 10,912,411 10,963,097Outstanding Nonrecourse Debt (Related Party) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Minimum Gain - Partnership 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Annual Change in Minimum Gain 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Minimum Gain - Partner (GP) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0POTENTIAL LIMITED PARTNER LOSSESLP Share of Losses per LPA 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99% 99.99%Annual Potential Losses Allocated to LP 0 (890,591) (1,662,083) (1,168,497) (1,165,974) (1,164,512) (1,160,543) (1,158,514) (1,156,703) (1,154,593) (1,148,524) (1,120,292) (1,114,624) (1,111,041) (1,107,008) (1,102,488) (1,081,555) (1,066,077) (1,059,837)(less) Related Party Losses Reallocated to GP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Adjusted Potential LP Losses 0 (890,591) (1,662,083) (1,168,497) (1,165,974) (1,164,512) (1,160,543) (1,158,514) (1,156,703) (1,154,593) (1,148,524) (1,120,292) (1,114,624) (1,111,041) (1,107,008) (1,102,488) (1,081,555) (1,066,077) (1,059,837)LP LOSS ANALYSIS -- CAPITAL ACCOUNT SHAREBeginning LP Capital Account Balance 0 2,167,800 12,336,209 18,935,064 17,766,336 16,600,216 15,435,651 14,275,108 13,116,594 11,959,891 10,805,298 9,656,774 8,536,482 7,421,858 6,310,817 5,203,809 4,101,322 3,019,766 3,019,766LP Capital Contributions 2,167,800 11,059,000 8,451,200 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0(less) LP Cash Flow Distributions 0 0 (6,761) (231) (147) (53) 0 0 0 0 0 0 0 0 0 0 0 0 0(less) Historic Tax Credits 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0(less) Investment Tax Credits (Solar) 0 0 0 0 0LP Capital Account Balance Available for Losses 2,167,800 13,226,800 20,780,648 18,934,833 17,766,189 16,600,163 15,435,651 14,275,108 13,116,594 11,959,891 10,805,298 9,656,774 8,536,482 7,421,858 6,310,817 5,203,809 4,101,322 3,019,766 3,019,766Adjusted Potential LP Losses 0 (890,591) (1,662,083) (1,168,497) (1,165,974) (1,164,512) (1,160,543) (1,158,514) (1,156,703) (1,154,593) (1,148,524) (1,120,292) (1,114,624) (1,111,041) (1,107,008) (1,102,488) (1,081,555) (1,066,077) (1,059,837)End of Year Capital Account Balance per Potential Losses 2,167,800 12,336,209 19,118,564 17,766,336 16,600,216 15,435,651 14,275,108 13,116,594 11,959,891 10,805,298 9,656,774 8,536,482 7,421,858 6,310,817 5,203,809 4,101,322 3,019,766 1,953,690 1,959,929Allowable LP Capital Account Losses (2,167,800) (13,226,800) (20,780,648) (18,934,833) (17,766,189) (16,600,163) (15,435,651) (14,275,108) (13,116,594) (11,959,891) (10,805,298) (9,656,774) (8,536,482) (7,421,858) (6,310,817) (5,203,809) (4,101,322) (3,019,766) (3,019,766)Actual Losses Allocated to LP (Capital Account Share) 0 (890,591) (1,662,083) (1,168,497) (1,165,974) (1,164,512) (1,160,543) (1,158,514) (1,156,703) (1,154,593) (1,148,524) (1,120,292) (1,114,624) (1,111,041) (1,107,008) (1,102,488) (1,081,555) 0 0LP DRO? Y Y Y YCumulative DRO Amount 0 0 0 0 LP LOSS ANALYSIS -- MINIMUM GAIN SHAREBeginning LP Minimum Gain Balance 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0LP Share of Annual Change in Minimum Gain 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0LP Minimum Gain Balance Available for Losses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Adjusted Potential LP Losses less Cap Acct Losses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (1,066,077) (1,059,837)Allowable LP Minimum Gain Account Losses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Actual Losses Allocated to LP (Minimum Gain Share) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0TOTAL LOSSES ALLOCATED TO LP 0 (890,591) (1,662,083) (1,168,497) (1,165,974) (1,164,512) (1,160,543) (1,158,514) (1,156,703) (1,154,593) (1,148,524) (1,120,292) (1,114,624) (1,111,041) (1,107,008) (1,102,488) (1,081,555) 0 0LIMITED PARTNER CREDIT DELIVERY ANALYSISLP 704(b) Capital Available for Losses 2,167,800 13,226,800 20,780,648 18,934,833 17,766,189 16,600,163 15,435,651 14,275,108 13,116,594 11,959,891 10,805,298 9,656,774 8,536,482 7,421,858 6,310,817 5,203,809 4,101,322 3,019,766 3,019,766LP Share of Depreciation per LPA 0 446,861 1,083,356 1,078,737 1,075,411 1,073,139 1,069,413 1,068,921 1,068,921 1,068,921 1,065,285 1,039,840 1,039,840 1,039,840 1,039,840 1,039,840 1,023,956 1,021,687 1,021,687Reduction in LP LIHTC due to 704(b) Capital Shortfall 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%LIMITED PARTNER CAPITAL ACCOUNTBeginning Capital Account Balance 0 2,167,800 12,336,209 18,935,064 17,766,336 16,600,216 15,435,651 14,275,108 13,116,594 11,959,891 10,805,298 9,656,774 8,536,482 7,421,858 6,310,817 5,203,809 4,101,322 3,019,766 3,019,766LP Capital Contributions 2,167,800 11,059,000 8,451,200 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0(less) Syndication Expenses 0 0 (183,500) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0(less) LP Cash Flow Distributions 0 0 (6,761) (231) (147) (53) 0 0 0 0 0 0 0 0 0 0 0 0 0(less) Historic Tax Credits 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0(less) Total Losses Allocated to LP 0 (890,591) (1,662,083) (1,168,497) (1,165,974) (1,164,512) (1,160,543) (1,158,514) (1,156,703) (1,154,593) (1,148,524) (1,120,292) (1,114,624) (1,111,041) (1,107,008) (1,102,488) (1,081,555) 0 0End of Year Capital Account Balance 2,167,800 12,336,209 18,935,064 17,766,336 16,600,216 15,435,651 14,275,108 13,116,594 11,959,891 10,805,298 9,656,774 8,536,482 7,421,858 6,310,817 5,203,809 4,101,322 3,019,766 3,019,766 3,019,766LIMITED PARTNER MINIMUM GAIN BALANCEBeginning Minimum Gain Account Balance 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0LP Share of Annual Change in Minimum Gain 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0(less) Minimum Gain Chargeback (Losses allocated to LP) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0End of Year Minimum Gain Balance 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0LIMITED PARTNER EXIT BENEFIT/LIABILITY ANALYSISMarginal Tax Rate 21.00%End of Year Capital Account Balance 2,167,800 12,336,209 18,935,064 17,766,336 16,600,216 15,435,651 14,275,108 13,116,594 11,959,891 10,805,298 9,656,774 8,536,482 7,421,858 6,310,817 5,203,809 4,101,322 3,019,766 3,019,766 3,019,766(plus) Syndication Expenses 0 0 183,500 183,500 183,500 183,500 183,500 183,500 183,500 183,500 183,500 183,500 183,500 183,500 183,500 183,500 183,500 183,500 183,500Tax Benefit/(Liability) on Sale @ $1 455,238 2,590,604 4,014,898 3,769,466 3,524,580 3,280,022 3,036,308 2,793,020 2,550,112 2,307,648 2,066,458 1,831,196 1,597,125 1,363,807 1,131,335 899,813 672,686 672,686 672,686Gross-Up Factor for Taxes on Gain due to Tax Payment 79.00%Total GP Obligation on Sale: LP Tax Liability + Gross-Up 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 GENERAL PARTNER Credit Period Year: (1) 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 Minimum Gain - Partnership 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Minimum Gain - Partnership - GP Share 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Minimum Gain - Partner (GP) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0GP Share of Losses per LPA 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%CAPITAL ACCOUNTBeg. of Yr Capital Account Balance 0 100 11 (61,008) (63,205) (64,644) (65,233) (65,349) (65,465) (65,581) (65,696) (65,811) (65,923) (66,035) (66,146) (66,256) (66,367) (66,475) (1,132,658)Capital Contributions 100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Annual GP Losses @ LPA Share 0 (89) (166) (117) (117) (116) (116) (116) (116) (115) (115) (112) (111) (111) (111) (110) (108) (107) (106)LP Losses Re-allocated to GP (Related Party) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0LP Losses Re-allocated to GP (Capital Account Shortfall) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (1,066,077) (1,059,837)Cash Flow 0 0 60,853 2,080 1,323 473 0 0 0 0 0 0 0 0 0 0 0 0 0End of Year Capital Account 100 11 (61,008) (63,205) (64,644) (65,233) (65,349) (65,465) (65,581) (65,696) (65,811) (65,923) (66,035) (66,146) (66,256) (66,367) (66,475) (1,132,658) (2,192,601) Pleasant Grove - Phase 1

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Investment Summary - LIHTC Investor Version: Construction Closing DraftAssumptions Marginal Tax Rate 21.0%

CUMULATIVE

TOTAL TOTAL TOTAL TOTAL TAX TOTAL RATIO OF

LIMITED AFTER- LTD PTR LTD PTR LTD PTR LTD PTR BENEFIT/ LTD PTR BENEFITS

PARTNER TAX VALUE FEDERAL CALIFORNIA ENERGY HISTORIC (LIABILITY) TAX TO LTD PTR

YEAR PAY-INS OF LOSSES LIHTC LIHTC CREDITS CREDITS UPON SALE BENEFITS PAY-INS Credit Year
2024 2,167,800 0 0 0 0 0 0 0.00 (1)2025 11,059,000 187,024 0 0 0 0 187,024 0.01 0 2026 8,451,200 349,038 2,293,786 0 0 0 2,642,823 0.13 1 2027 0 245,384 2,293,786 0 0 0 2,539,170 0.25 2 2028 0 244,854 2,293,786 0 0 0 2,538,640 0.36 3 2029 244,548 2,293,786 0 0 0 2,538,333 0.48 4 2030 243,714 2,293,786 0 0 0 2,537,500 0.60 5 2031 243,288 2,293,786 0 0 0 2,537,074 0.72 6 2032 242,908 2,293,786 2,536,693 0.83 7 2033 242,465 2,293,786 2,536,250 0.95 8 2034 241,190 2,293,786 2,534,976 1.07 9 2035 235,261 2,293,786 2,529,047 1.18 10 2036 234,071 0 234,071 1.19 11 2037 233,319 0 233,319 1.21 12 2038 232,472 0 0 232,472 1.22 13 2039 231,522 0 0 231,522 1.23 14 TOTAL 21,678,000 3,878,184 22,937,856 0 0 0 27,488,726
Pleasant Grove - Phase 1
Pleasant Grove - Phase 1 Page 17a
Net Quarterly Benefit Schedule Version: Construction Closing Draft

LP EQUITY PAY-IN SCHEDULE

AMOUNT DATE THRESHOLD
#1 - LP Admission 2,167,800 05/01/24 Initial Closing / LP Admission #2 - Completion Payment 10,839,000 10/01/25 Const. Completion #3 - Lien Free Completion 220,000 12/01/25 Lien Free Completion #4 - Conversion Payment 8,301,200 06/01/26 Perm Conversion #5 - Final Payment 150,000 12/01/26 Form 8609
TOTAL LP CONTRIBUTIONS 21,678,000

NET QUARTERLY BENEFITS
Internal Rate of Return: 4.58%

TOTAL NET
QUART. QUART.

YEAR INVESTMENT BENEFITS BENEFITS THRESHOLD
2024 0 0
(2,167,800) 0 (2,167,800) Initial Closing / LP Admission 0 0
0 0
2025 46,756 46,756
46,756 46,756
46,756 46,756
(11,059,000) 46,756 (11,012,244) Const Compl + Lien Free 2026 660,706 660,706
(8,301,200) 660,706 (7,640,494) Perm Conversion
660,706 660,706
(150,000) 660,706 510,706 Form 8609
2027 634,792 634,792
634,792 634,792
634,792 634,792
634,792 634,792
2028 634,660 634,660
634,660 634,660
634,660 634,660
634,660 634,660
2029 0 634,583 634,583
0 634,583 634,583
0 634,583 634,583
0 634,583 634,583
2030 0 634,375 634,375
0 634,375 634,375
0 634,375 634,375
0 634,375 634,375
2031 0 634,268 634,268
0 634,268 634,268
0 634,268 634,268
0 634,268 634,268
2032 634,173 634,173
634,173 634,173
634,173 634,173
634,173 634,173
2033 634,063 634,063
634,063 634,063
634,063 634,063
634,063 634,063
2034 633,744 633,744
633,744 633,744
633,744 633,744
633,744 633,744
2035 632,262 632,262
632,262 632,262
632,262 632,262
632,262 632,262
2036 58,518 58,518
58,518 58,518
58,518 58,518
58,518 58,518
2037 58,330 58,330
58,330 58,330
58,330 58,330
58,330 58,330
2038 58,118 58,118
58,118 58,118
58,118 58,118
58,118 58,118
2039 57,881 57,881
57,881 57,881
57,881 57,881
57,881 57,881
2040 224,953 224,953
224,953 224,953
224,953 224,953
224,953 224,953
2041 0 0
0 0
0 0
0 0
2042 0 0
0 0
0 0
0 0
TOTAL 21,678,000 27,488,726 5,810,726

ORDINANCE NO. 6796

ORDINANCE OF THE COUNCIL OF THE CITY OF ROSEVILLE
AUTHORIZING CERTAIN AMENDMENTS TO THE FISCAL YEAR 2023-24

BUDGET AND DECLARING THIS ORDINANCE TO BE IMMEDIATELY

EFFECTIVE AS AN APPROPRIATION MEASURE
THE CITY OF ROSEVILLE ORDAINS:

SECTION 1. The City of Roseville Annual Budget, Fiscal Year 2023-24, is hereby amended as listed on the attached budget adjustments for the Pleasant Grove Apartments Affordable Housing project.

SECTION 2. This ordinance is hereby declared to be an appropriation measure, immediately effective pursuant to the provisions of Section 5.03 of the Charter.

SECTION 3. The City Clerk is hereby authorized and directed to post a true copy of the foregoing ordinance in each of three (3) conspicuous locations in the City and she shall immediately after such posting enter in the ordinance book, under the record of the ordinance, a certificate under her hand stating the time and place of such publication by posting.

PASSED AND ADOPTED by the Council of the City of Roseville, this day of , 2024, by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:

MAYOR
ATTEST:

City Clerk

REQUEST FOR BUDGET ADJUSTMENT
Updated 12/1/2023
REQUESTER NAME & TITLE: Claudia Carreno Management Analyst FISCAL YEAR: 2023-24 PREPARER NAME & TITLE: Claudia Carreno Management Analyst COUNCIL DATE (if applicable): 03/20/24 DEPARTMENT/DIVISION: Economic Development - Housing ORDINANCE:

EXPENDITURES/EXPENSES/TRANSFERS OUT
ACCOUNT STRING BUDGET ($) DESCRIPTION
Fund Account Center Project Adjustment
2270 5573 84001 700040 965,000 Increase Grants Deferred Loans for the Local Housing Trust Fund Award project
2821 5573 84001 700040 965,000 Increase Grants Deferred Loans for the Local Housing Trust Fund Award matching funds
2270 5080 84001 700040 196,875 Increase Secondary Labor for the Local Housing Trust Fund Award project
2821 5080 84001 700040 196,875 Increase Secondary Labor for the Local Housing Trust Fund Award matching funds
EXPENDITURES/EXPENSES/TRANSFERS OUT TOTAL 2,323,750

REVENUES/TRANSFERS IN
ACCOUNT STRING BUDGET ($) DESCRIPTION
Fund Account Center Project Adjustment
2270 4410 84001 700040 1,161,875 Increase revenue for the Local Housing Trust Fund Award REVENUES/TRANSFERS IN TOTAL 1,161,875
NET ADJUSTMENT 1,161,875

FUND BALANCE
ACCOUNT STRING BUDGET ($) DESCRIPTION
Fund Account Center Project Adjustment
2821 3601 00000 000000 (1,161,875) Decrease available resources in the Housing Trust Fund. 3601 00000 000000
3601 00000 000000
3601 00000 000000
3601 00000 000000
3601 00000 000000
FUND BALANCE TOTAL (1,161,875)
Justification for Budget Adjustment:

The City of Roseville was awarded two State Housing & Community Development Local Housing Trust Fund (LHTF) grants totaling $6,753,845 to fund affordable housing projects. These grants require a dollar-for-dollar match, bringing the total funding for projects to $14,449,035. Staff recommends that the City Council authorize the City Manager to appropriate $1,161,875 in the Grants fund (2270) and the required matching funds from the Housing Trust Fund (2821) in the Local Housing Trust Fund Award non-capital project (#700040). This adjustment will increase the existing budget of the LHTF non-capital project (#700040) of $7,695,190 to $10,018,940. Projects identified to receive funding from this grant are Mercy Housing’s affordable housing project, Pleasant Grove Apartments, and Hampstead Partner’s workforce housing project, Prospera at Fiddyment Apartments.

EXPENDITURES/EXPENSES/TRANSFERS OUT
ACCOUNT STRING BUDGET ($) DESCRIPTION Fund Account Center Project Adjustment 2270 5573 84001 700066 1,550,000 Increase Grants Deferred Loans for the Prohousing Incentive Pilot Program Award project
2270 5080 84001 700066 60,000 Increase Secondary Labor for the Prohousing Incentive Pilot Program Award project
EXPENDITURES/EXPENSES/TRANSFERS OUT TOTAL 1,610,000

REVENUES/TRANSFERS IN
ACCOUNT STRING BUDGET ($) DESCRIPTION Fund Account Center Project Adjustment 2270 4410 84001 700066 1,610,000 Increase revenue for the Local Housing Trust Fund Award REVENUES/TRANSFERS INTOTAL 1,610,000

NET ADJUSTMENT -

FUND BALANCE
ACCOUNT STRING BUDGET ($) DESCRIPTION
Fund Account Center Project Adjustment
3601 00000 000000
3601 00000 000000
3601 00000 000000
3601 00000 000000
3601 00000 000000
3601 00000 000000

FUND BALANCETOTAL -
Justification for Budget Adjustment:

The City of Roseville was awarded a Prohousing Incentive Pilot program (PIP) state grant totaling $1,610,000 to fund housing related projects and programs that assist in addressing the unmet housing needs of the local community. Staff recommends that the City Council authorize the City Manager to appropriate the grant in the Grants Fund (2270) Prohousing Incentive Pilot Program non-capital project (#700066). The project identified to receive funding from this grant is Mercy Housing, Pleasant Grove Apartments, for predevelopment activites.

COUNCIL COMMUNICATION
CC #: 3257
File #: 0102-10
Title: Resolution - Mike Tarczy
Contact: Blair Hutchison 916-774-5266 [email protected] Meeting Date: 4/3/2024
Item #: 7.32.

RECOMMENDATION TO COUNCIL
Commend Mike Tarczy for his 23 years of outstanding service in Public Works Facilities and dedication to the City of Roseville, congratulate him for his many accomplishments, and wish him a long, healthy, and enjoyable retirement.

BACKGROUND
Not applicable.

FISCAL IMPACT
Not applicable.

ENVIRONMENTAL REVIEW
The California Environmental Quality Act (CEQA) does not apply to activities that will not result in a direct or reasonably foreseeable indirect physical change in the environment, or is otherwise not considered a project as defined by CEQA Statute §21065 and CEQA State Guidelines §15060(c)(3) and §15378. Ceremonial documents meet the above criteria and are not subject to CEQA. No additional environmental review is required.

CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Respectfully Submitted,
Blair Hutchison, City Clerk Technician
Carmen Avalos, City Clerk
_____________________________
Dominick Casey, City Manager
ATTACHMENTS:

Description
Resolution - Mike Tarczy

COUNCIL COMMUNICATION
CC #: 3240
File #: 0800-03
Title: Electric Utility Rates - Roseville Municipal Code Amendment Contact: Joanna Cucchi 916-746-1609 [email protected] Meeting Date: 4/3/2024
Item #: 8.1.

RECOMMENDATION TO COUNCIL
Staff recommends that the City Council introduce an ordinance for first reading, approving amendments to Sections 14.24.040, 14.24.050, 14.24.051, 14.24.055, 14.24.077, and

14.24.079 of Chapter 14.24 of the Roseville Municipal Code. These amendments reflect the recommended rate actions by Roseville Electric Utility and includes adopting the previous temporary 8% energy surcharge as an increase to base rates on January 1, 2025, as well as implementing two 9% base rate increases across all customer types, with one on June 1, 2024, and the other on January 1, 2025.

BACKGROUND
Roseville Electric Utility’s mission is to deliver safe, reliable electricity at competitive rates with exceptional service. This mission shapes how the electric utility conducts its day-to-day business operations and impacts the electric service provided to over 68,000 business and residential customers in the City of Roseville. This mission is balanced with the electric utility’s ability to align operating costs with expected revenues so that the utility remains in a position of financial strength to service the community in the future. Reviewing and recommending adjustments to electric rates is essential in delivering on the utility’s mission.

Rate Proposal
In recent years, Roseville Electric Utility, like many other utilities across the country, has faced unprecedented increases in energy costs. Over the last three years, energy market prices have surged by 200% to 300%. While the utility has employed various financial and risk management tools to mitigate the impact of these price fluctuations on customers, the rapid and substantial nature of these changes, combined with rising equipment and labor costs, has created significant challenges. As a result, the utility finds itself unable to maintain a balance between its revenues and expenses with the current rates in place. Without taking action on rates, the utility's projected net cash flow stands to be negative $30.5 million in FY2024-25 and negative $48 million in FY2025-26. Additionally, there is a need to re-build the rate stabilization fund to ensure the financial stability of the utility.

Projected power supply and generation expenses, which are expected to rise by 27% between FY2023-24 and FY2027-28, constitute 55% of the utility's budget. These substantial increases cannot be accommodated within current revenue expectations. Consequently, Roseville Electric Utility is proposing the following rate adjustments: implementing the previous temporary 8% energy surcharge as a permanent base rate increase effective January 1, 2025, along with two consecutive 9% base rate increases across all customer categories. The initial 9% rate increase would occur on June 1, 2024, followed by the second increase on January 1, 2025, subject to council approval. The proposed rate increases are expected to ensure the financial solvency of the utility until FY2025-26, with a projected improvement in its financial position in FY2026-27 and FY2027-28.

The utility acknowledges that this proposal would disproportionately impact low-income customers. To address this concern, the rate proposal increases the current low-income program, offering a 20% discount on all electric charges. Additionally, it introduces a new permanent $15 per month reduction to the base charge for all customers enrolled in the low-income and medical support programs. The approximate cost of implementing these programs is estimated at $800,000 per year, which will be covered by State-mandated public benefits funds designated specifically for energy efficiency, research and development, and low-income programs.

The proposed rate increases are detailed below.

June 1, 2024:

Customer Type Rate Increase Average Monthly Bill
Residential 9% $142
Small Commercial 9% $195
Medium Commercial 9% $3,783
Large Commercial 9% $37,005
Industrial 9% $126,035
January 1, 2025:
· Permanent adoption of the 8% energy surcharge
Customer Type Rate Increase Average Monthly Bill
Residential 9% $154
Small Commercial 9% $212
Medium Commercial 9% $4,123
Large Commercial 9% $40,336
Industrial 9% $137,378

PUBLIC OUTREACH AND CUSTOMER FEEDBACK
Roseville Electric Utility's rate increase proposal involved extensive public outreach efforts. As a community-owned utility, fostering collaboration with customers is a fundamental aspect of our approach. We provided numerous opportunities for engagement, ensuring that customer feedback played a central role in shaping the proposed rate changes. Key outreach events and communication channels included:
· Public Workshops (3)
· Roseville Coalition of Neighborhood Associations (RCONA) · Roseville Chamber of Commerce
· Largest Electric Customers / Key Accounts
· Roseville Electric Utility webpage
· Social media (Facebook and Nextdoor)
Throughout our public outreach, customer feedback centered on a few common concerns:
· General cost increase throughout the economy.
· Appreciation of Roseville’s reliability.
· Questions regarding long term energy increases.

FISCAL IMPACT
The proposed rate changes will result in approximately $80.6 million in additional revenue for the Electric Fund from FY2023-24 to FY2025-26, and an additional $48.6 million in FY2026-27 and $49.1 million in FY2027-28. The proposed change aligns the revenues collected from customers with the costs of operating the utility to maintaining financial strength and stability, consistent with City Council priorities.

ENVIRONMENTAL REVIEW
The California Environmental Quality Act (CEQA) does not apply to activities that will not result in a direct or reasonably foreseeable indirect physical change in the environment, or is otherwise not considered a project as defined by CEQA Statute §21065 and CEQA State Guidelines §15060(c)(3) and §15378. Approval of amendments to the Roseville Municipal Code meet the above criteria and are not subject to CEQA. No additional environmental review is required.

CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Goal A - Remain fiscally responsible in a changing world Respectfully Submitted,
Joanna Cucchi, Interim Electric Utility Financial Administrator Daniel Beans, Electric Utility Director
_____________________________
Dominick Casey, City Manager
ATTACHMENTS:

Description
RMCedits - REDLINE
ORDINANCE NO. ____

ORDINANCE OF THE COUNCIL OF THE CITY OF ROSEVILLE AMENDING SECTIONS 14.24.040, 14.24.050, 14.24.051, 14.24.055, 14.24.077, AND 14.24.079 OF CHAPTER 14.24 OF TITLE 14 OF THE ROSEVILLE MUNICIPAL CODE

REGARDING ELECTRICAL ENERGY
THE CITY OF ROSEVILLE ORDAINS:

SECTION 1. Section 14.24.040 of Chapter 14.24 of Title 14 of the Roseville Municipal Code is hereby amended to read as follows:

14.24.040. Residential rates.

A Effective January June 1, 202422, the residential rate applied to service within a monthly billing period and charged to residential customers shall be as follows:

1. For each residential customer meter:
a. Basic service charge: a basic service charge of $30.00 per meter, per billing month.
b. Energy charge applied to electricity consumption in kWh in accordance with the following tiers:
i. Tier 1—Up to 500 kWh: $0.0959 1176 per kWh;
2 ii. Tier 2—Greater than 500 kWh: $0.1452 1568 per kWh. c. California renewable energy requirement surcharge: $0.0056 per kWh. d. California greenhouse gas emission reduction requirement surcharge:
$0.0002 per kWh.
e. Hydroelectric adjustment: the annually adjusted charge or credit on residential billings that will be applied from July 1st to June 30th each fiscal year, as provided in Section 14.24.052 of this chapter. f. Energy cost surcharge: effective February 1, 2023 to December 31, 2024 an energy cost surcharge of $0.01354 per kWh on residential metered energy. The energy cost surcharge is not applicable to senior citizen rate reduction, low-income rate reduction, and medical support rate reduction customers.

B. Effective January 1, 20235, the residential rate applied to service within a monthly billing period and charged to residential customers shall be as follows:

1. For each residential customer meter:
a. Basic service charge: a basic service charge of $30.00 per meter, per billing month.
b. Energy charge applied to electricity consumption in kWh:
i. Tier 1—Up to 500 kWh: $0.14690989 per kWh;
ii. Tier 2—Greater than 500 kWh: $0.1912468 per kWh.
3 c. California renewable energy requirement surcharge: $0.0056 per kWh. d. California greenhouse gas emission reduction requirement surcharge:
$0.0002 per kWh.
e. Hydroelectric adjustment: the annually adjusted charge or credit on residential billings that will be applied from July 1st to June 30th each fiscal year, as provided in Section 14.24.052 of this chapter. f. Energy cost surcharge: effective February 1, 2023 to December 31, 2024 an energy cost surcharge of $0.01354 per kWh on residential metered energy. The energy cost surcharge is not applicable to senior citizen rate reduction, low-income rate reduction, and medical support rate reduction customers.

SECTION 2. Section 14.24.050 of Chapter 14.24 of Title 14 of the Roseville Municipal Code is hereby amended to read as follows:

14.24.050. General service rates.

A. Effective January June 1, 20234, the general service rates applied to service within a monthly billing period and charged to general service customers shall be as follows:

1. Small General Services (GS-1) Rate. The GS-1 monthly rates on monthly billings will be as follows:
4 Basic Service Charge $44.00 per meter, per month
Energy Charge
Winter $0.1017 1150 per kWh
Summer $0.1181 1330 per kWh
California Renewable Energy
Requirement Surcharge
$0.0056 per kWh
California Greenhouse Gas Emission
Reduction Requirement Surcharge
$0.0002 per kWh
Hydroelectric Adjustment Annually adjusted charge or credit on billings that will be applied from July 1st to
June 30th each fiscal year, as prescribed in
Section 14.24.052
Energy Cost Surcharge Effective February 1, 2023 to December 31, 2024 an energy cost surcharge of
$0.01235 per kWh.

2. Medium General Service (GS-2) Rate. The GS-2 monthly rates on monthly billings will be as follows:

Basic Service Charge $65.00 per meter, per month
Demand Charge $6.16 per kW
Energy Charge
Winter $0.1066 1186 per kWh
Summer $0.1282 1427 per kWh
California Renewable Energy
Requirement Surcharge
$0.0056 per kWh
California Greenhouse Gas Emission
Reduction Requirement Surcharge
$0.0002 per kWh
5 Hydroelectric Adjustment Annually adjusted charge or credit on billings that will be applied from July
1st to June 30th each fiscal year, as
prescribed in Section 14.24.052
Energy Cost Surcharge Effective February 1, 2023 to December 31, 2024 an energy cost surcharge of
$0.01143 per kWh.

3. Large General Service (GS-3) Rate. TOU rates are mandatory for all customers receiving service in the GS-3 rate classification. Customers not having the necessary equipment to meter consumption on a TOU basis will be charged at the GS-2 rate until the necessary equipment is installed. Customers with facilities where the necessary TOU equipment is infeasible or impractical to employ, as determined by Roseville Electric, will be billed at the GS-2 rate. Discounts for primary services are provided pursuant to Section 14.24.050(D).

The GS-3 monthly rates on monthly billings will be as follows:

Basic Service Charge $561.00 per meter, per month
Demand Charge
Winter $6.60 per kW
Summer $11.57 per kW
Energy Charge
Winter
Off Peak $0.0717 0801 per kWh
On Peak $0.0936 1045 per kWh
Super Peak $0.0936 1045 per kWh
6 Summer
Off Peak $0.0936 1045 per kWh
On Peak $0.1153 1287 per kWh
Super Peak $0.1480 1652 per kWh
California Renewable Energy
Requirement Surcharge
$0.0056 per kWh
California Greenhouse Gas Emission
Reduction Requirement Surcharge
$0.0002 per kWh
Hydroelectric Adjustment Annually adjusted charge or credit on billings that will be applied from July
1st to June 30th each fiscal year, as
prescribed in Section 14.24.052
Energy Cost Surcharge Effective February 1, 2023 to December 31, 2024 an energy cost surcharge of
$0.00992 per kWh.

4. Very Large General Service (GS-4) Rate. TOU rates are mandatory for all customers receiving service in the GS-4 rate classification. Discounts for primary services are defined in Section 14.24.050(D).

The GS-4 TOU monthly rates on monthly billings will be as follows:

Basic Service Charge $641.00 per meter, per month
Demand Charge
Winter $6.71 per kW
Summer $11.51 per kW
Energy Charge
Winter
7 Off Peak $0.0709 0789 per kWh
On Peak $0.0907 1009 per kWh
Super Peak $0.0907 1009 per kWh
Summer
Off Peak $0.0924 1028 per kWh
On Peak $0.1122 1249 per kWh
Super Peak $0.1469 1635 per kWh
California Renewable Energy
Requirement Surcharge
$0.0056 per kWh
California Greenhouse Gas Emission
Reduction Requirement Surcharge
$0.0002 per kWh
Hydroelectric Adjustment Annually adjusted charge or credit on billings that will be applied from July
1st to June 30th each fiscal year, as
prescribed in Section 14.24.052
Energy Cost Surcharge Effective February 1, 2023 to December 31, 2024 an energy cost surcharge of
$0.00843 per kWh.

B. Effective January 1, 20222025, the general service rates applied to service within a monthly billing period and charged to general service customers shall be as follows:

1. Small General Service (GS-1) Rate. The GS-1 monthly rates on monthly billings will be as follows:

Basic Service Charge $44.00 per meter, per month
Energy Charge
Winter $0.0995 1422 per kWh
Summer $0.1156 1642 per kWh
8 California Renewable Energy
Requirement Surcharge
$0.0056 per kWh
California Greenhouse Gas Emission
Reduction Requirement Surcharge
$0.0002 per kWh
Hydroelectric Adjustment Annually adjusted charge or credit on billings that will be applied from July 1st
to June 30th each fiscal year, as prescribed
in Section 14.24.052

2. Medium General Service (GS-2) Rate. The GS-2 monthly rates on monthly billings will be as follows:

Basic Service Charge $65.00 per meter, per month
Demand Charge $6.16 per kW
Energy Charge
Winter $0.1047 1433 per kWh
Summer $0.1258 1724 per kWh
California Renewable Energy
Requirement Surcharge
$0.0056 per kWh
California Greenhouse Gas Emission
Reduction Requirement Surcharge
$0.0002 per kWh
Hydroelectric Adjustment Annually adjusted charge or credit on billings that will be applied from July 1st to
June 30th each fiscal year, as prescribed in
Section 14.24.052

3. Large General Service (GS-3) Rate. TOU rates are mandatory for all customers receiving service in the GS-3 rate classification. Customers not having the necessary equipment to meter consumption on a TOU basis will be charged at the 9 GS-2 rate until the necessary equipment is installed. Customers with facilities where the necessary TOU equipment is infeasible or impractical to employ, as determined by Roseville Electric, will be billed at the GS-2 rate. Discounts for primary services are provided pursuant to Section 14.24.050(D).

The GS-3 monthly rates on monthly billings will be as follows:

Basic Service Charge $561.00 per meter, per month
Demand Charge
Winter $6.60 per kW
Summer $11.57 per kW
Energy Charge
Winter
Off Peak $0.0699 0975 per kWh
On Peak $0.0913 1272 per kWh
Super Peak $0.0913 1272 per kWh
Summer
Off Peak $0.0913 1272 per kWh
On Peak $0.1125 1566 per kWh
Super Peak $0.1444 2010 per kWh
California Renewable Energy
Requirement Surcharge
$0.0056 per kWh
California Greenhouse Gas Emission
Reduction Requirement Surcharge
$0.0002 per kWh
Hydroelectric Adjustment Annually adjusted charge or credit on billings that will be applied from July
1st to June 30th each fiscal year, as
prescribed in Section 14.24.052
10 4. Very Large General Service (GS-4) Rate. TOU rates are mandatory for all customers receiving service in the GS-4 rate classification. Discounts for primary services are defined in Section 14.24.050(D).

The GS-4 TOU monthly rates on monthly billings will be as follows:

Basic Service Charge $641.00 per meter, per month
Demand Charge
Winter $6.71 per kW
Summer $11.51 per kW
Energy Charge
Winter
Off Peak $0.0691 0950 per kWh
On Peak $0.0884 1215 per kWh
Super Peak $0.0884 1215 per kWh
Summer
Off Peak $0.0901 1238 per kWh
On Peak $0.1094 1504 per kWh
Super Peak $0.1432 1969 per kWh
California Renewable Energy
Requirement Surcharge
$0.0056 per kWh
California Greenhouse Gas Emission
Reduction Requirement Surcharge
$0.0002 per kWh
Hydroelectric Adjustment Annually adjusted charge or credit on billings that will be applied from July
1st to June 30th each fiscal year, as
prescribed in Section 14.24.052
11 C. Aggregation of Demand. Accounts with multiple GS-3 service, or a combination of GS-3 and GS-4 service that combine to exceed 1,000 kW of billed demand in any six months of the prior calendar year will receive a discount of $0.003 per kWh on the GS-3 service total monthly billed energy.

D. Primary Service. Service provided at 12,000 volts or higher under delivery arrangements approved by Roseville Electric shall receive a discount of two percent of the energy and demand charges.

E. Contract Rates. The city reserves the right to negotiate and provide, by contract, service at rates other than those specified in the municipal code.

F. Standby Service Rate.

1. Applicability. This service is applicable to any general service customer who utilizes, in whole or in part, generating facilities, as defined in Roseville Electric Rule 21 standards for interconnection, other than solar, wind or solar/wind hybrid customer-owned generating facilities, to supply all or part of such customer's power requirements, and where:
a. Based upon the manufacturer's nameplate rating the generating facilities do not exceed 100 percent of their projected demand as determined by Roseville Electric.
b. Pursuant to Rule 21 standards for interconnection, generating facilities are connected to the city's electrical distribution system. The customer shall not operate such customer-owned generating facilities in parallel with the 12 city's electrical system unless otherwise approved in advance by Roseville Electric.

An interconnection agreement between the city and customer is required for service under this rate, when the customer-owned generating facilities are interconnected with the city's electrical system.

2. Effective January 1, 2017 the standby service charge ($/kW of "rated capacity" per month) shall be as follows:

Secondary voltage $6.71
Primary voltage $6.58
"Rated capacity" is a fixed kilowatts value determined by the manufacturer's rating of the generator unit. In addition to the auxiliary or standby service rate, the city will continue to bill for all applicable charges under the appropriate rate schedule, including, but not limited to, basic service, energy and demand charges.

G. Demand/kWh Criteria. Service provided under general service rates shall be periodically evaluated for compliance with rate classification monthly demand and/or kWh criteria. If the monthly demand and/or kWh criteria are not satisfied, the service may be transferred to the appropriate general service rate effective with the next available billing cycle.

Exceptions are at the discretion of Roseville Electric or by a customized customer contract (if applicable). Compliance with monthly demand/kWh criteria shall be determined in accordance with Section 14.24.020 rate classification.
13 H. Advanced Metering Service Charge. The advanced metering service charge is required for all GS-2 customers who have access to the city's online energy profiler system. GS-2 service, whose maximum demand is equal to or greater than 250 kW in two or more summer months (as defined in Section 14.24.021) in the prior calendar year, will receive a special load profile meter, and the ability to remotely access usage data. Customers with facilities where the necessary metering equipment is infeasible or impractical to employ, as determined by Roseville Electric, will be exempted from this charge. The city will charge a monthly service fee of $42.00 to cover maintenance, software support and related expenses.

SECTION 3. Section 14.24.051 of Chapter 14.24 of Title 14 of the Roseville Municipal Code is hereby amended to read as follows:

14.24.051. Customer-owned solar and wind electric generation rates.

A. Net Metering Rate. For solar, wind, and/or solar/wind hybrid electric generation located on the premises of the end user customer-generator, where the customer-generator's own electricity demand is located, interconnected behind the electric meter of record:

1. Net metering is available for solar, wind, and/or solar/wind hybrid electric generation s systems, where the generating system meets no more than 100 percent of the customer-generator's annual energy (kWh) usage but is less than or equal to 1,000 kW, as defined in Roseville Electric Rule 21 standards for interconnection.
14 2. The solar and/or wind electric generating system must operate in parallel with the city's electric utility system, and designed to offset part of but no more than 100 percent of the customer-generator's meter of record total annual kilowatt-hour electric load.

3. All eligible customer-generators receiving service under net metering rates shall pay all applicable electric monthly basic service charges and other charges identified by state law and/or city ordinance as a mandatory charge according to the terms and conditions of the rate which the customer-generator would be assigned to, or be eligible for, if the customer-generator was not an eligible customer-generator over a normal billing cycle.

4. The net metering solar, wind, and/or solar/wind hybrid electric generation rate on billings shall be as follows:
a. For all net metering customer-generators, any net surplus kilowatt-hours generated during the previous billing cycle shall be carried over to the following billing period as a monetary value, calculated according to the customer-generator's applicable rate based energy charge. Net credit values will be offset by future energy charges or will appear as a net dollar based surplus energy value at the end of the customer-generator's annual period.
b. For eligible NM-1 customer-generators who are net generators at the end of their annual period, the net energy surplus compensation rate shall be applied to any net surplus kWh remaining.
15 c. Eligible customer-generators will receive compensation for the annual surplus as a credit applied toward the next annual period, unless the customer elects to receive surplus compensation by check.

5. For all other net metering customer-generators, any monetary credits associated with net annual energy surplus generation at the end of the customer-generator's annual period shall have no value.

6. All net metering customer generators will receive annualized billing, with any monthly credits valued at the applicable tariff energy value.

7. For energy payments due within any monthly billing period where an amount, or net amount, is due for energy consumption:
a. NM-1 Net Metering Rate with Surplus. The customer-generator has the option to pay any amount due for net energy consumption, or defer payment for net energy consumption until the end of the annual period, or cessation of city provided electric service.
b. All Other Net Metering Customers. The customer-generator must pay any amount due for net energy consumption upon receipt of the monthly bill.

8. Net Metering Rate with Surplus (NM-1). The NM-1 rate applies to residential customer-generators and small non-residential customer-generators with a maximum yearly demand (kW) of 10 kW or less. Annual net surplus kWh for these eligible customer-generators shall be valued using the net surplus energy 16 compensation rate. Effective on electric service utility billings generated on or after:
a. January June 1, 20172024, the net surplus energy compensation rate shall be $0.0931 0.1176 per kWh energy charge.
b. January 1, 2025, the net surplus energy compensation rate shall be $0.1469 per kWh energy charge.

B. Roseville Solar 2.0 Rate. For eligible renewable generation such as solar, wind, and/or solar/wind hybrid electric located on the premises of the end user customer-generator, where the customer-generator's own electricity demand is located, interconnected behind the electric meter of record:

1. Roseville solar 2.0 is available where the generating system meets no more than 100 percent of the customer-generator's annual energy (kWh) usage but is less than or equal to 1,000 kW, as defined in Roseville Electric Rule 21 standards for interconnection.

2. The generating system must operate in parallel with the city's electric utility system, and be designed to offset part of, but no more than 100 percent, of the customer-generator's meter of record total annual kilowatt-hour electric load.

3. All eligible customer-generators receiving service under the Roseville solar 2.0 rate shall pay all applicable electric monthly basic service charges and other charges identified by state law and/or city ordinance as a mandatory charge according to the terms and conditions of the rate which the customer-generator 17 would be assigned to, or be eligible for, if the customer-generator was not an eligible customer-generator over a normal billing cycle.

4. The Roseville solar 2.0 rate on billings shall be as follows:
a. All energy (kWh) delivered and received after the customer-generator serves its own instantaneous load shall be measured by a multi-register meter.
b. The customer-generator will be billed consumption charges for the energy delivered to the customer by Roseville Electric Utility, based on the customer's applicable rate.
c. In the event the energy generated by the customer exceeds the energy consumed, Roseville Electric Utility will receive that energy and the customer will receive a credit which shall be compensated at the surplus energy compensation rate.
d. The customer-generator must pay any amount due for energy consumption upon receipt of the monthly bill.

5. Roseville Solar 2.0 Rate. The Roseville solar 2.0 rate applies to eligible customergenerators. Monthly customer generated kWh received by the utility shall be compensated at the surplus energy compensation rate:
a. The surplus energy compensation rate shall be $0.0598 per kWh. This rate is subject to revision by the city council as energy prices and system requirements change.
18 C. For customer-generators where the generating system is over 1,000 kW, the surplus energy compensation rate will be determined on a case-by-case basis.

D. The customer must comply with conditions and terms set forth by the city and Roseville Electric Rule 21 requirements for safe and efficient interconnection with the city's electrical system.

SECTION 4. Section 14.24.055 of Chapter 14.24 of Title 14 of the Roseville Municipal Code is hereby amended to read as follows:

14.24.055. Outdoor, street lighting, traffic signal, and electric vehicle charging rates.

A. Outdoor Lighting Rate. All unmetered service including outdoor lighting service, will be charged in accordance with engineering determinations made by Roseville Electric. Service furnished under this rate may be discontinued at any location where the city's overhead facilities are relocated, converted to underground, or the space on the pole utilized by the light is needed by the city for other facilities. The outdoor lighting the monthly billing will be as follows:

1. Effective June 1, 2024.

Rate Code Rate ($/month)
FL03 $7.868.57
FL14 $52.9957.76
19 Rate Code Rate ($/month)
FL23 $137.89150.30
FL27 $377.98412.00
100W Sodium Vapor $6.026.56
175W Mercury Vapor $8.939.73
200W Sodium Vapor $13.3214.52
400W Mercury Vapor $20.6622.52
400W Sodium Vapor $20.6622.52

2. Effective January 1, 2025.

Rate Code Rate ($/month)
FL03 $9.97
FL14 $67.20
FL23 $174.86
FL27 $479.32
100W Sodium Vapor $7.63
175W Mercury Vapor $11.32
200W Sodium Vapor $16.89
400W Mercury Vapor $26.20
400W Sodium Vapor $26.20
20 B. Street Lighting Rate. Consumption on city-owned streetlights is not metered. The base charge is set using estimated consumption. For the city-owned street lighting account, the monthly billing will be as follows:

1. Base Charge.
a. Effective January June 1, 20222024, a charge of $17,539.0819,499.96 per month.
b. Effective January 1, 20232025, a charge of $17,889.8722,686.14 per month.

C. Traffic Signal Rate. For all city-owned traffic signal electric service, the monthly billing will be as follows:

1. Effective January June 1, 20222024.

Customer Charge $34.4135.10 per meter, per month
Energy Charge $0.0339 $0.0451 per kWh
California Renewable Energy
Requirement Surcharge
$0.0056 per kWh
California Greenhouse Gas Emission
Reduction Requirement Surcharge
$0.0002 per kWh
Hydroelectric Adjustment Annually adjusted charge or credit on billings that will be applied from July
1st to June 30th each fiscal year, as
prescribed in Section 14.24.052

2. Effective January 1, 2023.

Customer Charge $35.10 per meter, per month
Energy Charge $0.0345 $0.0604per kWh
21 California Renewable Energy
Requirement Surcharge
$0.0056 per kWh
California Greenhouse Gas Emission
Reduction Requirement Surcharge
$0.0002 per kWh
Hydroelectric Adjustment Annually adjusted charge or credit on billings that will be applied from July
1st to June 30th each fiscal year, as
prescribed in Section 14.24.052
D. City-Owned Electric Vehicle Charging Rate.
a. Effective June 1st, 2024 the rate Ffor city-owned electric vehicle charging stations, the rate will be $0.150.1635 per kWh plus associated vendor fees (which may change without notice according to vendor terms and conditions)..
b. Effective January 1
st, 2025 the rate for city-owned electric vehicle charging stations will be $0.1902 per kWh plus associated vendor fees (which may change without notice according to vendor terms and conditions).

E. Pole Attachment Rate. This rate applies to general service accounts attached to unmetered Roseville assets where the consumption of electricity is small or can be predetermined with reasonable accuracy by reference to the capacity of equipment served and the hours of operation. Roseville Electric will calculate electricity consumption in lieu of providing metering equipment.

1. Effective January June 1, 20222024.

Basic Service Charge $10.4913.28 per attachment, per
month
22 Energy Charge $0.1160 1431 per kWh
California Renewable Energy Requirement
Surcharge
$0.0056 per kWh
California Greenhouse Gas Emission
Reduction Requirement Surcharge
$0.0002 per kWh

2. Effective January 1, 20232025.

Basic Service Charge $10.7013.28 per attachment, per
month
Energy Charge $0.1184 1570 per kWh
California Renewable Energy Requirement
Surcharge
$0.0056 per kWh
California Greenhouse Gas Emission Reduction
Requirement Surcharge
$0.0002 per kWh
F. All rates in subsection A of this section will increase or decrease at the same percentage as the percentage change applied to the rates for the GS-1 rate classification.

G. Energy Cost Surcharge: effective February 1, 2023 to December 31, 2024 an energy cost surcharge of $0.00350 per kWh will be applied to all metered energy by customers defined in this section.

H. Energy Cost Surcharge: effective February 1, 2023 to December 31, 2024 an energy cost surcharge of $1431.19 per month will be applied to the Street Lighting rate defined in this section.
23 SECTION 5. Section 14.24.077 of Chapter 14.24 of Title 14 of the Roseville Municipal Code is hereby amended to read as follows:

14.24.077. Medical support rate reduction.

A. Any person who requires an in-home medical support device and is paying for service at standard residential rates may apply for the following residential rate: Effective January 1, 2004 all qualifying persons who are eligible to receive the medical support rate reduction shall receive a reduction equal to 50 percent of charges calculated using standard residential rates for the first 500 kWh of usage per monthly billing period and 1520 percent of charges for all charges calculated using standard residential rates for usage in excess of 500 kWh.

Effective June 1, 2024, all qualifying persons who are eligible to receive the medical support rate reduction shall receive a $15.00 reduction to the monthly the basic service charge.

B. Applications for reduced rates shall be made on forms supplied by the city and shall be submitted to utility customer care who shall review the applications and determine eligibility for reduced rates. The application shall be executed under penalty of perjury and be accompanied by the statement of a treating physician certifying the need for the in-home medical support device. The reduced rate shall terminate in the event the person requiring the use of the in-home medical support device no longer resides at the residential address receiving electricity at reduced rates. Persons who have been qualified to receive the 24 reduced rate shall submit such documentation as the utility director finance director may specify annually thereafter to certify continuing qualification as required by this section.

C. For the purposes of this section, a "medical support device" is defined as any medical device requiring utility-supplied electrical energy for its operation and which is regularly required to support the life of a person residing in a residential dwelling, including respirators, iron lungs, hemodialysis machines, suction machines, pressure pads and pumps, electrostatic and ultrasonic nebulizers, IPPB machines, electric nerve stimulators, aerosol tents, compressors and motorized wheelchairs. A "medical support device" shall also include electric heating or air conditioning for paraplegic, hemiplegic and quadriplegic persons and electric heat or air conditioning for persons with multiple sclerosis.

D. For the purposes of this section, a "qualifying person" is defined as any person having a verifiable gross annual income of no greater than that specified by the U.S. Department of Housing and Urban Development as "low income" for Placer County.

E. The utility director may adopt such rules and regulations, consistent herewith, which he deems necessary to properly carry out the provisions of this section.

SECTION 6. Section 14.24.079 of Chapter 14.24 of Title 14 of the Roseville Municipal Code is hereby amended to read as follows:

14.24.079. Low-income rate reduction.
25 A. Effective July 1, 1998, any household with a total income no greater than 200 percent of the Federal Poverty Level (FPL) issued by the Department of Health and Human Services (HHS) may apply for a 15 20 percent rate reduction of all charges in the standard residential rate. Applications for reduced rates shall be on forms supplied by the city. All information required to be given on such forms shall be supplied by the applicant on behalf of the household under penalty of perjury. Effective June 1, 2024, all qualifying persons who are eligible to receive the low-income rate reduction shall receive a $15.00 reduction to the monthly the basic service charge.

B. Reduced rates shall be granted to qualifying household which file applications with the utility directordirector of finance. A change of address terminates the special rate provided in this section, but a new application at a new address may be made and the reduced rate shall be allowed, if the requirements set out in this section are satisfied.

C. For the purposes of this section, a "qualifying household" is defined as any household with a verifiable gross household income no greater than 200 percent of the Federal Poverty Level (FPL) issued by the Department of Health and Human Services (HHS).

D. This rate reduction replaces the senior citizen rate reduction in Section 14.24.075 for new applicants. Current senior citizen rate reduction participants may choose to remain on the existing senior reduced rate or apply for the low-income rate reduction.

E. No household may participate in more than one city electric rate reduction program concurrently
26 SECTION 7. This ordinance shall be effective at the expiration of thirty (30) days from the date of adoption.

SECTION 8. The City Clerk is hereby directed to cause this ordinance to be published in full at least once within fourteen (14) days after it is adopted in a newspaper of general circulation in the City, or shall within fourteen (14) days after its adoption cause this ordinance to be posted in full in at least three (3) public places in the City and enter in the Ordinance Book a certificate stating the time and place of said publication by posting.

PASSED AND ADOPTED by the Council of the City of Roseville this ___ day of _______________, 20__, by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:
______________________________
MAYOR
ATTEST:
27 _________________________________
City Clerk

COUNCIL COMMUNICATION
CC #: 3252
File #: 0400-02 & 0400-04-04-2
Title:

Zoning Ordinance/North Central Roseville Specific Plan Text Amendment - Regional Commercial
Contact: Eric Singer 916-774-5536 [email protected] Meeting Date: 4/3/2024
Item #: 9.1.

RECOMMENDATION TO COUNCIL
At the February 8, 2024 Planning Commission hearing, the Planning Commission recommended that the City Council take the following actions:

1. Adopt the two (2) findings of fact and introduce for first reading an Ordinance Amending Section 19.12.020 of the Roseville Municipal Code regarding Commercial Use Types; and

2. Adopt a resolution approving text amendments to the North Central Roseville Specific Plan.

BACKGROUND
This Council Communication provides a summary evaluation of the project and a summary of the February 8, 2024 Planning Commission hearing. A more detailed background and evaluation is provided in the Planning Commission staff report, included as Attachment 1.

Summary Evaluation
The project is a city-initiated update to Title 19 (Zoning Ordinance) of the Roseville Municipal Code (RMC) Section 19.12.020 (Commercial Use Types) to add multi-family residential uses as a permitted use within the Regional Commercial zone district provided units have been allocated within a Specific Plan, and a text amendment of the North Central Roseville Specific Plan to add multifamily uses as a permitted use within the Regional Commercial land use designation. The only areas in the City zoned Regional Commercial are the Westfield Galleria at Roseville, the adjacent Creekside Town Center, the Roseville Auto Mall, and the commercial centers across Sunrise Avenue from the Roseville Auto Mall.

Staff has identified a need to update the list of permitted uses to include multi-family residential for Regional Commercial land uses in the North Central Roseville Specific Plan, which includes the Westfield Galleria and the Creekside Town Center. While these parcels remain a strong regional retail destination, further diversifying permitted uses will allow these sites flexibility when planning future development. The revision to the Zoning Ordinance includes language that stipulates multifamily residential uses are only allowed if units have been allocated to the site within the Specific Plan. No units are proposed for allocation at this time and there is currently no residential development project proposed.

Although no housing is currently proposed, adding multi-family residential as an allowed use to the Regional Commercial Zone District could also help fulfill the City’s future Regional Housing Needs Allocation (RHNA). The removal of land use barriers and/or permit streamlining provides additional opportunity for housing development, and have the potential to provide RHNA credit.

This proposed project would remove a land use barrier, given that multifamily residential is currently not a permitted use in the Regional Commercial Zone District. Similarly, the recentlyadopted Corridor Specific Plans (Douglas-Harding, Douglas-Sunrise, and Atlantic Street) provided RHNA credit as a result of streamlining actions for multifamily housing, particularly in commercial districts.

Additionally, staff noticed an error in the Commercial Zone Permitted Uses Table which is proposed for correction. In an amendment to Title 19, approved in 2023, table note 14 was added to residential use types, but in the completed ordinance was accidentally omitted from the multifamily use type. The proposed amendments include adding this table note. A memorandum explaining the correction is included as Attachment 2.

Planning Commission Hearing
The proposed amendments were considered by the Planning Commission on February 8, 2024.

There were no public comments at the hearing. Planning Commissioners inquired about the affordability levels of any future housing, and staff indicated that the type of any future housing would be market-driven, though the City’s General Plan Policy requiring 10% of new units be affordable would apply.

Commissioners also asked whether there were height restrictions for development, and staff indicated that the zone district includes a height limitation of 50 feet, but that if a project is appropriately designed the standard can be modified through Design Review or Major Project Permit processes. The Planning Commission unanimously recommended City Council approve the proposed amendments (7-0-0).

FISCAL IMPACT
The project has no impact on the City’s General Fund.

ENVIRONMENTAL REVIEW
The proposed Zoning Ordinance and Specific Plan amendments are policy and proceduremaking activities, and the California Environmental Quality Act (CEQA) only applies to projects which have the potential to cause a significant effect on the environment. The project merely adds a potential use type to the list of permitted uses on land where a wide array of high-intensity urban uses are already permitted, and the property affected is already fully developed with high-intensity urban uses (a regional mall and other large shopping centers). Where it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment, the activity is not subject to CEQA. (CEQA Guidelines §15061(b)(3)).

CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Goal F - Invest in well-planned infrastructure and growth The adoption of the proposed amendments supports the City's Strategic Plan goal to invest in well-planned infrastructure and growth because it expands opportunities for housing and ensures key commercial areas of the City have the flexibility to respond to market trends.

Respectfully Submitted,
Eric Singer, Associate Planner
Mike Isom, Development Services Director
_____________________________
Dominick Casey, City Manager
ATTACHMENTS:

Description
Attachment 1 Planning Commission Staff Report
Attachment 2 Staff Memorandum
Title 19Amendments
Resolution 24-088
Planning Division Staff Report
Planning Commission Meeting February 8, 2024
Prepared by: Eric Singer, Associate Planner
ITEM 6.2: ZONING ORDINANCE/NORTH CENTRAL ROSEVILLE SPECIFIC PLAN TEXT AMENDMENT - REGIONAL COMMERCIAL – CITYWIDE – PL23-0317

REQUEST
The project is a city-initiated update to Title 19 (Zoning Ordinance) of the Roseville Municipal Code (RMC) Section 19.12.020 (Commercial Use Types) to add multi-family residential uses as a permitted use within the Regional Commercial zone district provided units have been allocated within a Specific Plan, and a text amendment of the North Central Roseville Specific Plan to add multifamily uses as a permitted use within the Regional Commercial land use designation.

Applicant – City of Roseville
Owner – Citywide

SUMMARY RECOMMENDATION
The Planning Division recommends the Planning Commission take the following actions:

1. Consider the one (1) finding of fact and recommend the City Council adopt a resolution to approve the Specific Plan Amendment.

2. Consider the two (2) findings of fact and recommend the City Council approve the Ordinance Amendment to Title 19 of the Roseville Municipal Code, Chapter 19.12.020 (Commercial Use Types).

SUMMARY OF OUTSTANDING ISSUES
There are no outstanding issues associated with this request.

BACKGROUND
The North Central Roseville Specific Plan (NCRSP) was adopted on July 5, 1990, and included designation of Specific Plan Parcels 35 and 36 as a Regional Commercial land use. The NCRSP Section

3.8, Regional Commercial Core Area, indicated that either Parcel 35 or 36 could be developed with a regional mall, and included a list of permitted uses and development standards which would apply. Since adoption, the NCRSP has been amended to include Parcel 95 as a Regional Commercial land use designation as well.

On July 25, 1995 the Planning Commission approved a Major Project Permit Stage 1 (MPP 95-01) for the development of a regional mall on Parcel 35, and subsequently approved a three-year extension of time for the project. On June 25, 1998 the Planning Commission approved a Major Project Permit Stage 2 (MPP 98-02) for the regional mall. At the time of approval, the mall was to include four anchor stores, an entertainment building (with a movie theater, book store, sporting goods, and arcade), approximately 140 in-line tenants, a food court, and seven pad buildings. A later Major Project Permit Modification to increase the size of the mall was approved by the Planning Commission on June 22, 2006 (MPP 04-02).

On November 7, 2018, the City Council approved a Specific Plan Amendment (PL18-0032) to revise the list of permitted uses on the mall parcel, as well as provide updates to Section 3.8 to reflect current conditions and correct errors.

The regional mall has continued to develop and redevelop over the years, as shown by the list of projects undertaken since the mall was originally approved. Staff has identified a need to update the list of permitted uses to include multi-family residential at the mall site as well as the adjacent Regional Commercial zone districts. Societal shifts in how people shop, accelerated by the COVID-19 pandemic Zoning Ordinance/NCRSP Text Amendment – Regional Commercial, Citywide; PL23-0317 Planning Commission – February 8, 202 – Page 2 of 4
and changing demographics, have compounded the issues that regional shopping centers have faced in recent years. In response to shifts in the economy and changing consumer preferences, owners of large regional malls throughout the United States have looked to reinvigorate their properties by introducing a mix of uses, including residential uses. While the Westfield Galleria at Roseville has remained a successful regional shopping destination, further diversifying permitted uses will allow the mall flexibility when planning future development.

Staff is proposing a Specific Plan Amendment to revise the list of permitted uses at the mall, as well as an update to Section 19.12.020 (Commercial Use Types) of the Roseville Municipal Code (Zoning Ordinance) to allow multi-family residential uses as permitted within the Regional Commercial zone district. The only areas in the City zoned Regional Commercial are the Westfield Galleria at Roseville, the adjacent Creekside Town Center, the Roseville Auto Mall, and the commercial centers across Sunrise Avenue from the Roseville Auto Mall. Staff is not proposing any amendments to the Specific Plan within which the Auto Mall and the adjacent commercial centers are located. The revision to the Zoning Ordinance includes language that stipulates multi-family residential uses are only allowed if units have been allocated to the site within the Specific Plan. No units are proposed for allocation at this time and there is currently no residential development project proposed.

EVALUATION
Specific Plan Amendment
Proposed amendments to a Specific Plan are analyzed for consistency with the goals and policies of the plan and with the City’s General Plan, consistent with the below finding:

1. The proposed Specific Plan Amendment is consistent with the objectives, policies, general land uses, and programs of the General Plan.

The permitted uses list for the mall is found within Section 3.8 of the NCRSP. Since the use list was established more than thirty years ago, the mall marketplace has changed substantially. To increase their market capture, several successful regional shopping destinations have begun incorporating housing into their portfolios. A recent analysis by JLL (a global real estate services company) looked at the redevelopment of 153 mall redevelopments across the United States and found that 54 percent include housing as a new use. The ownership group for the Westfield Galleria at Roseville has maintained a flexible approach to changing market trends. The mall has shifted toward being more of a destination retail center with the addition of amenities like the Cinemark movie theater, Round 1 bowling alley and arcade, several new restaurants, and luxury brand tenants. While there are no current or imminent plans for residential development at the mall, there is support for the inclusion of residential uses to help stay ahead of retail market trends.

There are no Specific Plan or General Plan policies that would conflict with residential use in the Regional Commercial land use designation, and the proposed use is consistent with the scope of uses permitted by the Zoning Ordinance in other Commercial zones, many of which allow residential uses.

Zoning Ordinance Amendment
Section 19.86.050 of the City of Roseville Zoning Ordinance requires two findings be made in order to approve a zoning ordinance amendment. The two findings are listed below in italicized, bold text and are followed by an evaluation of the project in relation to the findings.

Zoning Ordinance/NCRSP Text Amendment – Regional Commercial, Citywide; PL23-0317 Planning Commission – February 8, 202 – Page 3 of 4

1. The project is consistent with the public interest, health, safety, or welfare of the City.

2. The project is consistent with the General Plan and any applicable specific plan of the City of Roseville.

The existing land use and zoning designation of the properties are Regional Commercial. The proposed changes to the Zoning Ordinance are to allow multi-family residential uses as permitted within the Regional Commercial zone district, provided the Specific Plan also allows residential uses and units are allocated. There are no Specific Plan or General Plan policies which conflict with the proposed new use, and the sites have sufficient infrastructure to support the use consistent with the Regional Commercial zone. Additionally, the proposed use is allowed in other Commercial zones. Multi-family residential uses would only be allowed on a site if units have been allocated through a Specific Plan Amendment in conjunction with any other required entitlements. As a result, parking, traffic demands, and other infrastructure required to support the proposed use would be evaluated on a project-specific basis.

For these reasons, staff finds that the project is consistent with the public interest, health, safety, or welfare of the City and that the project is consistent with the General Plan and applicable specific plans.

PUBLIC OUTREACH
Staff discussed these updates at the Roseville Coalition of Neighborhood Associations (RCONA) General Board meeting of January 18, 2024 and also posted a general notice of the Project on the RCONA website on the same date. RCONA Board members had one question regarding whether the proposed amendments are due to state housing requirements. Staff indicated that while it’s possible the City could receive credit for any housing resulting from these changes, the purpose of the project is to be proactive and ensure the Westfield Galleria has the flexibility to respond to market trends. To date, no other comments or concerns have been received. A public hearing notice was published in the Press Tribune a minimum of 10 days prior to the public hearing and was posted on the RCONA website.

ENVIRONMENTAL DETERMINATION
The proposed Zoning Ordinance and Specific Plan amendments are policy and procedure-making activities, and the California Environmental Quality Act (CEQA) only applies to projects which have the potential to cause a significant effect on the environment. Where it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment, the activity is not subject to CEQA. (CEQA Guidelines §15061(b)(3)).

RECOMMENDATION
The Planning Division recommends the Planning Commission take the following actions:

A. Consider the findings of fact as stated in the staff report and recommend the City Council adopted a resolution to approve the NORTH CENTRAL ROSEVILLE SPECIFIC PLAN AMENDMENT – REGIONAL COMMERCIAL – CITYWIDE – PL23-0317; and
B. Consider the findings of fact as stated in the staff report and recommend City Council approve the ORDINANCE AMENDMENT – REGIONAL COMMERCIAL – CITYWIDE – PL23-0317.

Zoning Ordinance/NCRSP Text Amendment – Regional Commercial, Citywide; PL23-0317 Planning Commission – February 8, 202 – Page 4 of 4
B:\Development Services\Planning Division\2024\PC\02.08\PL23-0317 NCRSP Amendment\PL23-0317, Zoning Ordinance-NCRSP Text Amendment, 01 Staff Report.docx
Exhibits
A. North Central Roseville Specific Plan Redlines
B. Zoning Ordinance Redlines (RMC 19.12.020)
Note to Applicant and/or Developer: Please contact the Planning Division staff at (916) 774-5276 prior to the Commission meeting if you have any questions on any of the recommended conditions for your project. If you challenge the decision of the Commission in court, you may be limited to raising only those issues which you or someone else raised at the public hearing held for this project, or in written correspondence delivered to the Planning Manager at, or prior to, the public hearing.

MEMORANDUM
To: Planning Commission
From: Lauren Hocker, Senior Planner
Date: February 6, 2024
Re: Item 6.2 – Zoning Ordinance/North Central Roseville Specific Plan Text Amendment – Correction to Zoning Ordinance Commercial Zone Districts Permitted Uses, File #PL23- 0317
The purpose of this Memorandum is to provide the Planning Commission with a recommendation from staff to correct an error within Roseville Municipal Code Section 19.12.020 (Permitted Use Types), in the Commercial Zone Districts Permitted Uses table. This table was amended last year as part of the annual Zoning Ordinance update to include a new table note 14. As was explained within the staff report for 2023 update project, the note “clarifies that, in addition to a Conditional Use Permit, residential uses [emphasis added] on commercial sites will require a Unit Transfer or Specific Plan Amendment if there are no units allocated or fewer allocated to the commercial site than are proposed.” Although all the materials made it clear this note was to apply to all residential uses permitted with a CUP, an error in the final version of the amendments resulted in table note 14 being dropped from the multifamily use type.

Since the currently proposed project amends the same section of the Commercial Zone Districts Permitted Uses table, staff is requesting Planning Commission recommend the error be corrected by adding table note 14 to the Multi-Family use type, as shown below. For context, all three table notes affiliated with this section are also included below, including proposed new note 15.

Multi-Family(13, 14) - CUP/A CUP/A - - P(15) P
Single-Family(14) - CUP CUP CUP CUP - P
Two-Family(
14) - CUP CUP CUP CUP - P
(13) Multi-family uses are permitted with an Administrative Permit in the NC and CC zone districts when the housing development is constructed on or adjacent to a site occupied by a non-profit organization, and a non-profit organization will offer supportive services to the proposed residents. Examples of supportive services include transportation, child care, education assistance, and the provision of clothing and other supplies. (14) For sites within a specific plan, residential units are only permitted with a CUP if the specific plan has allocated units to the site. If no units are allocated or if fewer units are allocated than are proposed, a unit transfer or specific plan Amendment is required in addition to the CUP.
(15) Multi-family units are permitted by right in the RC zone district if the specific plan has allocated units to the site.

If no units are allocated or if fewer units are allocated than are proposed, a unit transfer or specific plan Amendment will be required.

DEVELOPMENT SERVICES DEPARTMENT – PLANNING DIVISION
311 Vernon Street, Roseville, CA 95678 (916) 774-5276
ORDINANCE NO. ____

ORDINANCE OF THE COUNCIL OF THE CITY OF ROSEVILLE AMENDING SECTION

19.12.020 OF CHAPTER 19.12 OF TITLE 19 OF THE ROSEVILLE MUNICIPAL CODE

REGARDING COMMERCIAL ZONES PERMITTED USE TYPES
THE CITY OF ROSEVILLE ORDAINS:

SECTION 1. Section 19.12.020 of Chapter 19.12 of Title 19 of the Roseville Municipal Code is hereby amended to read as follows:

19.12.020 Permitted Use Types.

Primary uses are permitted in commercial zones subject to the requirements of this title as designated below:

A. Principally permitted use, designated as “P”;
B. Conditionally permitted use, designated as “CUP”; and C. Administratively permitted use, designated as “A.”
Refer to the Downtown Code for permitted uses within the CBD and HD zones.

COMMERCIAL ZONE DISTRICTS PERMITTED USES
2 BP NC CC GC HC RC CMU

AGRICULTURAL AND OPEN SPACE USE TYPES
Resource Protection
and Restoration

CUP CUP CUP CUP CUP CUP P
Resource Related
Recreation

P P P P P CUP P

CIVIC USE TYPES
Community
Assembly

CUP P P P - - P
Community Services P CUP P P P P P
Essential Services P P P P P P P
Hospital Services
General Hospital
Services
- - CUP CUP - - P
Psychiatric Hospital
Services
- - CUP CUP - - P
Libraries and
Museums, Private
- CUP P P P P -
3 BP NC CC GC HC RC CMU
Public Parking
Services

P P P P P P P
Schools
College and
University

A - P P - P P
Public/Private
Elementary and
Secondary
- CUP CUP CUP - - P
Social Services
Emergency Shelter(5)- - - CUP CUP - CUP
Food Distribution(3)- - - A/CUP A/CUP - A/CUP
Food Service(4)- - - A/CUP A/CUP - A/CUP
Power Generating Facilities(9)
Emergency A A A A A A A
Supplemental/Indivi
dual Use

CUP CUP CUP CUP CUP CUP CUP
Passive Power P P P P P P P
4 BP NC CC GC HC RC CMU

RESIDENTIAL USE TYPES
Accessory Dwelling
Units(11)
- P P P P - P
Caretaker/Employee
Housing
- CUP CUP CUP CUP CUP P
Community Care
Facilities, Small

P P P P - P P
Community Care
Facilities, Large

CUP CUP CUP CUP - CUP P
Dwelling(10)
Multi-Family(13, 14)- CUP/A CUP/A - - -P
(15) P
Single-Family(14)- CUP CUP CUP CUP - P
Two-Family(14)- CUP CUP CUP CUP - P
Family Day Care
Home, Small

P P P P - P P
Family Day Care
Home, Large
- CUP CUP CUP - - P
5 BP NC CC GC HC RC CMU
Single Room
Occupant
- - - - - - CUP
Low-Barrier
Navigation Centers
- - - - - - P

COMMERCIAL USE TYPES
Adult-Oriented
Businesses(2)
- - - P - P P
Animal Sales and Service
Grooming and Pet
Stores
- P P P - P P
Kennels - - - CUP CUP CUP P
Veterinary Clinic - CUP P P - - P
Veterinary Hospital - - CUP CUP - - P
Automotive and Equipment
Automotive Body
and Equipment
Repair
- - - CUP - CUP CUP
6 BP NC CC GC HC RC CMU
Automotive Rentals - - - P P P P
Automotive Repairs - - CUP P P P P
Automotive Sales - - CUP P - P P
Car Wash and
Detailing
- - CUP P - P P
Commercial Parking P - - P P - P
Electric Vehicle
Charging Center(12)

CUP P/CUP P/CUP P/CUP P/CUP P/CUP P/CUP
Fuel Sales(12) CUP P/CUP P/CUP P/CUP P/CUP P/CUP P/CUP
Heavy Equipment
Rental and Sales
- - - P - P P
Banks and Financial
Services

P P P P - P P
Bars and Drinking
Places
- - P P - P P
Broadcasting and
Recording Studios

P - - P - - P
7 BP NC CC GC HC RC CMU
Building Material
Stores
- - CUP P - P P
Business Support
Services

P - P P - - P
Commercial Recreation
Amusement Center - CUP P P - P P
Indoor Entertainment - - P P - P P
Indoor Sports and
Recreation
- - P P - P P
Large Amusement
Complexes
- - - CUP CUP P P
Outdoor
Entertainment
- - - CUP - CUP P
Outdoor Sports and
Recreation
- - - P CUP P P
Community Care
Facility

P P P P - - P
8 BP NC CC GC HC RC CMU
Day Care Center P P P P - P P
Eating and Drinking Establishments
Fast Food with
Drive-Through(12)
- - P/CUP P/CUP P/CUP P/CUP P/CUP
Convenience P P P P P P P
Full Service P P P P P P P
Food and Beverage
Retail Sales
- - P P - - P
Funeral and
Interment Services
- - P P - - P
Lodging Services - - P P P P P
Long-Term Care
Facility

CUP CUP P P - - P
Maintenance and
Repair
- P P P - - P
Medical Services,
General

P P P P P P P
9 BP NC CC GC HC RC CMU
Neighborhood
Commercial

P P - - - - P
Nightclubs(6)- - CUP CUP - CUP CUP
Nursery, Retail - - - P - P P
Offices, Professional P P P P - P P
Personal Services P P P P P P P
Retail Sales and
Services
- - P P P P P
Specialized Education and Training
Vocational Schools - - P P - - P
Specialty Schools - CUP P P - P P
Storage, Personal
Storage Facility
- - CUP P - - P

INDUSTRIAL USE TYPES
Laundries,
Commercial
- - CUP CUP - - P
10 BP NC CC GC HC RC CMU
Printing and
Publishing
- - - CUP - - P
Research Services - - - P - - P
Wholesaling and
Distribution, Light
- - - P - - P

TRANSPORTATION AND COMMUNICATION USE TYPES
Heliport CUP CUP CUP CUP CUP CUP P
Intermodal
Facilities(8)

CUP CUP CUP CUP CUP CUP P
Telecommunication
Facilities(7)
P/A/CU
P
P/A/CU
P
P/A/CU
P
P/A/CU
P
P/A/CU
P
P/A/CU
P
P/A/CU
P
Notes:
(1) Reserved.
(2) Additional requirements are contained in Chapter 19.32. (3) Additional requirements are contained in Chapter 19.40. (4) Additional requirements are contained in Chapter 19.39. (5) Additional requirements are contained in Chapter 19.38. 11 (6) Additional requirements are contained in Chapter 19.49. (7) Additional requirements are contained in Chapter 19.34. (8) Additional requirements are contained in Chapter 19.36. (9) Additional requirements are contained in Chapter 19.55. (10) Transitional housing and supportive housing are considered residential use types and are permitted (P) where residential uses are permitted (P) or conditionally permitted (CUP). (11) Accessory dwelling/junior accessory dwelling units are only permitted within areas zoned to allow singlefamily, two-family or multi-family residential use and must be located on a lot that contains an existing or proposed single-family, two-family or multi-family dwelling unit which has an approved CUP as defined in Sections 19.08.080(F)(1) and (F)(2) (Residential Use Types). See Chapter 19.60 for additional accessory dwelling/junior accessory dwelling unit regulations.
(12) A Conditional Use Permit is required for fast food with drive through establishments, fuel sales establishments, or electric vehicle charging centers contiguous to: (a) properties with a residential zoning designation; (b) parcels designated as a public utilities easement or landscape easement which are contiguous to a property having a residential zoning designation; and (c) any other parcel of land upon which a building cannot be developed and which separates the subject parcel by less than 100 feet which is contiguous to a property having a residential zoning designation. A conditional use permit is not required for these uses if the subject parcel is separated from properties with a residential zoning designation by a public roadway. (13) Multi-family uses are permitted with an Administrative Permit in the NC and CC zone districts when the housing development is constructed on or adjacent to a site occupied by a non-profit organization, and a non-profit organization will offer supportive services to the proposed residents. Examples of supportive services include transportation, child care, education assistance, and the provision of clothing and other supplies. (14) For sites within a specific plan, residential units are only permitted with a CUP if the specific plan has allocated units to the site. If no units are allocated or if fewer units are allocated than are proposed, a unit transfer or specific plan Amendment is required in addition to the CUP.
12 (15) Multi-family units are permitted by right in the RC zone district if the specific plan has allocated units to the site. If no units are allocated or if fewer units are allocated than are proposed, a unit transfer or specific plan Amendment will be required.
13 SECTION 2. This ordinance shall be effective at the expiration of thirty (30) days from the date of adoption.

SECTION 3. The City Clerk is hereby directed to cause this ordinance to be published in full at least once within fourteen (14) days after it is adopted in a newspaper of general circulation in the City, or shall within fourteen (14) days after its adoption cause this ordinance to be posted in full in at least three (3) public places in the City and enter in the Ordinance Book a certificate stating the time and place of said publication by posting.

PASSED AND ADOPTED by the Council of the City of Roseville this ___ day of _______________, 20__, by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:
______________________________
MAYOR
ATTEST:
14 _________________________________
City Clerk
RESOLUTION NO. 24-088

AMENDING THE NORTH CENTRAL ROSEVILLE SPECIFIC PLAN REGARDING PERMITTED USES ON PARCELS 35, 36 & 95
WHEREAS, the City proposes to amend the permitted uses within the North Central Roseville Specific Plan Regional Commercial Core, consisting of Parcels 35, 36 and 95, to include multi-family residential uses (Exhibit A); and
WHEREAS, changing the permitted uses table necessitates an amendment to the text related to said properties within the North Central Roseville Specific Plan (Exhibit A); and WHEREAS, the Planning Commission held a public hearing on the proposed amendment to the North Central Roseville Specific Plan on February 8, 2024; and WHEREAS, on April 3, 2024, the City Council held a public hearing at which time the proposed amendment was considered; and
WHEREAS, the Specific Plan Amendment is consistent with the adopted City of Roseville General Plan, as proposed and revised; and
WHEREAS, the Council of the City of Roseville has reviewed the findings of the Planning Commission recommending approval of the Specific Plan Amendment, and makes the following findings:

The Specific Plan Amendment is consistent with the objectives, policies, general land uses, and programs specified in the City of Roseville General Plan and the North Central Roseville Specific Plan;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville that the amendments changing the permitted uses and specific plan text within the North Central Roseville Specific Plan (attached as Exhibit A) are hereby adopted.

PASSED AND ADOPTED by the Council of the City of Roseville this day of , by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:

MAYOR
ATTEST:

City Clerk
Exhibit A - NCRSP Redlines

14. Building site design shouldconsider alternatives to the standard "L" shape or strip building configuration. In order to strengthen the streetscape, pad sites or a portion of the main buildings should be located at the street frontage.

15. Large single-user freestanding retail commercial buildings which are not integrated in an overall pedestrian oriented site design, are generally discouraged, and shall not be the dominant form of commercial use on any parcel. Architectural design measure should be incorporated to visually reduce the bulk and large frontages often associated with such uses. All commercial uses are subject to a use permit. All community commercial parcels must be master planned for the entire site.

16. The master plan for all community commercial parcels adjacent to potential light rail corridors shall take into consideration the possible future extension of light rail, including right-of-way and station needs. The design of Parcels 31 and 32 shall consider the possible future construction of an urban interchange at the intersection of Roseville Parkway and Pleasant Grove Boulevard.

17. In addition to the other uses specified for the community commercial land use, Parcel 34 may also accommodate large users such as a junior department store, discount outlet, furniture or appliance stores, sporting goods, hotel, auto service center, movie theaters or other entertainment activities, and similar large facilities. All such uses shall be designed in accordance with the policies in this section.

3.7A HIGHWAY ORIENTED COMMERCIAL
(Parcels 48A and 55A)
The Highway 65 corridor defines the northern edge of Parcels 48A and 55A. The NCRSP freeway frontage is approximately two miles in length with the existing Harding/Stanford Ranch Road Interchange anchoring the eastern reach and the future Blue Oaks Interchange anchoring the west. At the center of the NCRSP Highway 65 frontage is the planned Pleasant Grove Interchange. This interchange will provide a major link between Roseville and Rocklin by way of Pleasant Grove Boulevard which will become Park Drive in Rocklin, and provide direct access to this highway oriented commercial parcel.

3.7 A.1 Parcel 48A and Parcel 55A Development Guidelines Pleasant Grove Boulevard is designed to provide direct access from the Highway 65/Pleasant Grove Boulevard Interchange to Parcel 48A and Parcel 55A.

Due to freeway proximity, future buildings on Parcel 48A and Parcel 55A may be visible to SR 65 motorists. Although the mass of future buildings may be screened to some degree by the cut slopes along the edge of the right of way, the following design standards are incorporated to further soften the development edge along the SR 65 corridor of Parcel 48A and Parcel 55A:
 Commercial buildings are to be set back a minimum of 50 feet from the SR 65 right of way.

Commercial parking areas, including driveways and delivery bay areas, are to be set back a minimum of 40 feet from the SR 65 right of way. Any dumpster enclosures, service entries, and/or loading dock shall be fully screened from view with a combination of block walls and landscaping.

Exhibit A - NCRSP Redlines
 Setback and open areas between future buildings or parking and the freeway right-of-way are to be landscaped with a mix of trees, shrubs and ground covers The landscape planter shall have a width of 40 feet.
 The primary tree along the SR 65 frontage shall be the Bloodgood London Plane tree plantedin a staggered pattern at 30 feet on center.
 Where permitted by individual site development plans, tree planting pockets abutting the setback area should be developed between adjoining buildings or clusters of buildings or at "dead spaces" occurring within individual site development plans. The tree planting pockets are intended to introduce a rhythm of intermittent tree groves along the freeway edge.  Approximately one third of the trees planted in the setback and pocket areas should be conifer trees for vertical scale and screening.
 All building elevations visible from the freeway should be designed to incorporate architectural detail that is sensitive to such visibility and that avoids the featureless design typically associated with "backside" facades.
 Where this commercial parcel lies adjacent to watershed open space parcels, a landscape buffer is to be installed along the abutting edge of the non-open space parcel. The minimum buffer width is 20 feet for parking and 25 feet for buildings.  Although highway commercial parcels are not required to be master planned, considerations of internal function shall be addressed in the context of a conceptual site plan at the time a development proposal is initiated for any portion of the individual site. Where a mix of uses is anticipated for the site, particular attention shall be given to site circulation, access and parking.

A clearly defined pedestrian link running parallel to the freeway is encouraged.

3.8 Regional Commercial Core Area
The commercial core area is comprised of two regional commercial sites totaling approximately 188.89 acres, (Parcels 35 and 36), and ancillary parcels adjacent to the two primary parcels (Parcels 33, 37, 38, 39, and 40). The specific policies regulating the development of Parcels 38, 39 and 40 are found under the appropriate use sections of this element. The commercial core parcels comprise core retail, service, and leisure activities that serve the entire South Placer region. Population projections indicate that the region will be able to support one large retail mall and substantial additional commercial activity at this location.

The intent is to provide a mix of land uses within the core area that will support greater diversity and more pedestrian activity than is likely to occur at a single-purpose retail center. A higher level of development intensity is encouraged than would otherwise occur at a suburban shopping center. In order to achieve this mix of uses, one of the two regional commercial sites, (Parcel 35 or 36), has been identified as a regional mall, featuring shopping, services, leisure, and other activities in a single complex. The remaining area provides in-line and pad tenant spaces for a complementary mix of uses which may include office, service, retail commercial, restaurants, leisure, and cultural facilities. This area is envisioned as the "hub" of activity in the region. The core area is characterized by tall, landmark buildings, public plazas, a distinctive pedestrian circulation system, and a diverse mix of uses.

The parcel developed as the regional mall may include the following uses:
- retail sales and services (including major departmentstores) - eating and drinking establishments
Exhibit A - NCRSP Redlines
- professional offices
- auto service center
- manufacturer direct-to-consumer automotive sales/leasing, for no more than one auto manufacturer, with a maximum of 5,000 square feet for a showroom within the Galleria containing no more than five (5) display vehicles, and no more than eight (8) vehicles combined for test drives/sale or lease purposes. Reserved parking spaces for such vehicles outside the display space within the Galleria shall be in a location not visible from public streets. - banks and financial services
- child care
- movie theaters
- cultural centers, such as libraries and museums
- specialized education and training
- personal services
- multi-family residential
An alternative land use plan is proposed for the site not developed as the regional mall (Parcel 36).

Parcel 36 uses may include up to sixty percent (60%) of the total gross building floor area of the site for retail commercial. The balance of the site will be used for non-retail uses such as business-professional office, hotels, restaurants, banks, child care, theaters, and other office and service commercial uses.

Multiple family residential use may be considered subject to City approval of a General Plan Amendment and Specific Plan Amendment for additional units. Parcel 36 is subject to regional commercial policies as well as the business-professional and commercial policies that are appropriate to the ultimate land use mix, when such policies are applicable and do not conflict with the goals and policies of thissection.

The eastern edge of Parcel 36 encompasses slope areas ranging from five (5) to twenty-five percent (25%) gradient and oak woodlands overlooking Antelope Creek. Although the site is adjacent to an area designated as a potential regional commercial center, it is not suitable for conventional office or commercial development due to the slope and tree conditions. Consequently, a majority of the slope will be included in a non-developable slope easement. Approximately 2.6 acres, designated as Parcel 33, will be accessible from a future connection from Antelope Creek Drive.

This parcel is illustrated on Figure 3-20, Slope Easement Area. The site is suitable for a restaurant, small office building, or specialty retail. The building placed on the parcel will require pedestrian access from a parking area at the top of the bluff. The building is required to be of a low profile design, not more than two stories in height on its downhill side, and must be visually integrated with the natural terrain. The height shall not exceed thirty-five feet (35') above the natural grade. Regulations relating to the development of Parcel 33 are contained in Policy 19 of this section.

Exhibit A - NCRSP Redlines
Figure 3-20: Slope Easement Area
Parcel 37 is a small commercial site of approximately five (5) acres separated from the regional commercial sites by Roseville Parkway. This site is suited for small freestanding commercial or service uses such as auto service, bank, restaurant, or small office or retail uses relating to the commercial core area. Much of the site is encumbered by a powerline easement, which limits building locations and coverage. Due to the proximity to the Roseville Parkway /Galleria Boulevard intersection, the property will be limited to right in/ right out vehicular turning movements.

The basic concept of the commercial core area is to make the two sides of Galleria Boulevard work together as a single urban complex. The features of such a complex include a highly efficient circulation system that accommodates pedestrians as well as vehicles and public transportation. A major emphasis of the core area is on the design of pedestrian spaces and connections.

Exhibit A - NCRSP Redlines
The creation of an urban scale commercial core area is facilitated by the regional access that has been provided. The access is illustrated in Figure 3-21, Regional Commercial Core Circulation Diagram. The roadway system offers superior circulation for the core area via the Highway 65 /Galleria Boulevard, Atlantic Street/Eureka Road and Highway 65 /I-80 interchanges. The interchanges are supplemented by the major arterial linkages including Galleria Boulevard, Stanford Ranch Road and Roseville Parkway. The location also presents opportunities for potential future connections to regional public transit, including light rail. The site offers. freeway visibility; proximity to an established and growing population base, a visually dramatic site, and a comprehensive master planning effort by the City. These factors provide a unique opportunity in the Sacramento /South Placer region to establish a "satellite downtown" complex.

The pedestrian circulation system, illustrated in Figure 3-22, Regional Commercial Core Pedestrian Circulation Diagram, will link the entire commercial core area around Galleria Boulevard. In addition, the walkways will extend to the adjacent business-professional/ commercial, business-professional, and multi-family residential uses immediately surrounding the commercial core. A connection will intersect with the planned bike trail along Antelope Creek which will link south into the developed portion of Roseville and north into Rocklin. The pathway system will have the effect of making the commercial core accessible to a larger pedestrian core area by providing safe and convenient connections.

COUNCIL COMMUNICATION
CC #: 3249
File #: 0400-04-12
Title:

Sierra Vista Specific Plan Parcels FD-34 & WB-31 (1600 Westbrook Blvd. and 3250 Pleasant Grove Blvd.) - Development Agreement Amendments Contact: Kinarik Shallow 916-746-1309 [email protected] Meeting Date: 4/3/2024
Item #: 9.2.

RECOMMENDATION TO COUNCIL
At the March 14, 2024 Planning Commission meeting, the Planning Commission recommended the City Council take the following actions on the project:

1. Adopt the five (5) findings of fact and introduce for first reading an ordinance approving the Seventh Amendment to the SVSP Westpark Federico DA; and

2. Adopt the five (5) findings of fact and introduce for first reading an ordinance approving the Fourth Amendment to the SVSP Westbrook Development Agreement (DA).

BACKGROUND
This Council Communication provides a summary evaluation of the project and a summary of the March 14, 2024 Planning Commission hearing.

Background/Project Description
The project site consists of two vacant parcels located in the Sierra Vista Specific Plan (SVSP) area: Parcels FD-34 and WB-31. Parcel FD-34 is located at 1600 Westbrook Boulevard (APN 498-020-014-000) and Parcel WB-31 is located at 3250 Pleasant Grove Boulevard (APN 496- 100-029-000) (see Attachment 1- Vicinity Map). Both parcels have a land use designation of High Density Residential (HDR) and a zoning designation of Multi-Family Housing (R3). Parcel FD-34 has a current unit allocation of 256 units with all units designated as very-low income rental units, and Parcel WB-31 has a current unit allocation of 293 units with an affordable obligation of six (6) low income rental units.

In August 2023, an 84-unit density bonus was granted to Parcel FD-34 pursuant to State Density Bonus Law (Gov. Code, § 65915 et seq.). The applicant is currently proposing an additional 48- unit density bonus on Parcel FD-34, which will result in a total allocation of 304 units. Of the 304 units, 302 units will be designated as affordable rental units, with 256 designated as very-low income and 46 designated as low income. The six (6) low income unit obligation on Parcel WB- 31 will be transferred to Parcel FD-34, and the 293 units allocated to Parcel WB-31 will all be developed as market rate units. The March 14, 2024 Planning Commission staff report, included as Attachment 2, includes a table summarizing the current and proposed unit allocations.

Each parcel is subject to a Development Agreement (DA), which outlines the affordable housing obligations. Although a density bonus would not ordinarily require a DA Amendment, the project requires DA Amendments in order to document the transfer of the affordable housing obligations among the project parcels. Therefore, the project is a request for a Seventh (7th) Amendment to the Westpark Federico Development Agreement and for a Fourth (4th) Amendment to the Westbrook Development Agreement to reflect the 48-unit density bonus Parcel FD-34 for a total of 304 units (with 302 units designated as affordable), and the transfer of the 6 low income affordable unit obligation from SVSP Parcel WB-31 to SVSP Parcel FD-34. No development is being proposed with this project. The increase in residential units, including affordable units, assists the City in fulfilling its share of the Regional Housing Needs Allocation (RHNA), as determined by Sacramento Area Council of Governments (SACOG) and approved by the California Department of Housing and Community Development (HCD).

Summary Evaluation
Development Agreements are binding contracts that set the terms, rules, conditions, regulations, entitlements, responsibilities, and other provisions relating to the development of the covered properties. The project includes a seventh amendment to the SVSP Westpark Federico DA (Exhibit A) which covers SVSP Parcel FD-34 and a fourth amendment to the SVSP Westbrook DA (Exhibit B) which covers SVSP Parcel WB-31. The Seventh Amendment to the Westpark Federico DA will be amended to reflect the 48-unit density bonus and revised affordable housing obligation for Parcel FD-34. The affordable unit obligation will be 256 very-low income and 46 low income units, for a total of 302 affordable rental units. The six (6) low income affordable unit obligation on Parcel WB-31 will be transferred to Parcel FD-34. The Fourth Amendment to the Westbrook DA will be amended to remove the six (6) low income rental unit obligation on Parcel WB-31. As mentioned, the affordable obligation will be transferred to FD-34. All 293 units allocated to WB-31 will be provided as market rate units.

In summary, City staff has found the proposed DAAs to be consistent with the General Plan, SVSP, and the Zoning Ordinance. The City’s Housing Division reviewed the project and determined the proposed affordable unit obligations are acceptable and consistent with City policy. The DA Amendments are in conformance with the public health, safety, and welfare, and will not adversely affect the orderly development of the property or the preservation of property values.

Summary of Planning Commission Meeting
The project was considered by the City's Planning Commission on March 14, 2024. The Planning Commission unanimously recommended the City Council approve the DA Amendments with a vote of 7 aye, 0 nay, 0 absent. No discussion of the project occurred during the meeting.

Public Outreach
The proposed project was distributed to all internal and external agencies and departments who have requested such notice, and all comments or recommended conditions of approval have been incorporated into the project, as appropriate. Early notification of the project was posted on the Roseville Coalition of Neighborhood Associations (RCONA)’s website. Notices of both the Planning Commission hearing and the City Council hearing were published in the Roseville Press Tribune and on the RCONA website, and mailed to all property owners within 300 feet of the site.

No public comments have been received on the project.

FISCAL IMPACT
The project is not anticipated to result in any negative impacts to the City’s General Fund. The entitlements would facilitate eventual construction of multi-family residential projects. The eventual construction of the multi-family residential projects would generate revenue to the City through the payment into development impact fee programs and community facilities districts.

ENVIRONMENTAL REVIEW
This project is exempt from the provisions of the California Environmental Quality Act (CEQA) Guidelines pursuant to Section 15061(b)(3) (General Rule) and Section 305 of the City of Roseville CEQA Implementing Procedures. The Planning Manager has determined that this project is substantially consistent with the previously certified Sierra Vista Specific Plan EIR, certified by the City Council on May 5, 2010 (SCH #2008032115), and that the Development Agreement (DA) Amendments do not result in any physical changes to the environment or changes to environmental impacts previously considered in connection with the approval of the existing DAs. As such, no additional environmental documentation is required.

CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Goal F - Invest in well-planned infrastructure and growth Respectfully Submitted,
Kinarik Shallow, Associate Planner
Mike Isom, Development Services Director
_____________________________
Dominick Casey, City Manager
ATTACHMENTS:

Description
Attachment 1 Vicinity Map
Ordinance for SeventhAmendment to Westpark Federico DA
Attachment 2 March 14, 2024 Planning Commission Staff Report Exhibit A SeventhAmendment to Westpark Federico DA
Ordinance for FourthAmendment to Westbrook DA
Ordinance for FourthAmendment to Westbrook DA
Exhibit B FourthAmendment to the Westbrook DA
Westbrook
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Vicinity Map
Nearmap, Esri Community Maps Contributors, City of
Roseville, California State Parks, © OpenStreetMap,
Microsoft, Esri, TomTom, Garmin, SafeGraph,
GeoTechnologies, Inc, METI/NASA, USGS, Bureau of Land
Management, EPA, NPS, US Census Bureau, USDA,
Land Use Boundary
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City of Roseville - Development Services
City of Roseville | Development Services
CC ATTACHMENT 1
ORDINANCE NO.

ADOPTING A SEVENTH AMENDMENT OF THE DEVELOPMENT AGREEMENT BY AND

BETWEEN THE CITY OF ROSEVILLE AND WESTPARK SIERRA VISTA, LLC, AS

ASSIGNEE OF WESTPARK FEDERICO, LLC, MOURIER INVESTMENTS, LLC, AND

FEDERICO-TYLER FAMILY LIMITED PARTNERSHIP RELATIVE TO THE SIERRA VISTA

SPECIFIC PLAN AND AUTHORIZING THE CITY MANAGER TO EXECUTE IT ON

BEHALF OF THE CITY OF ROSEVILLE
THE CITY OF ROSEVILLE ORDAINS:

SECTION 1. In accordance with Chapter 19.84 of Title 19 of the Roseville Municipal Code (the Zoning Ordinance) of the City of Roseville, the City Council has received the recommendation of the Planning Commission that the City of Roseville enter into a Seventh Amendment of the Development Agreement by and between the City of Roseville and FD34 Development, LLC, as assignee of Mourier Investments, LLC, pertaining to property located within the Sierra Vista Specific Plan area.

SECTION 2. The Seventh Amendment to Development Agreement is exempt from environmental review pursuant to California Environmental Quality Act (CEQA) Section 15061(b)(3) (General Rule) and Section 305 of the City of Roseville CEQA Implementing Procedures. The Planning Manager has determined that this project is substantially consistent with the previously certified Sierra Vista Specific Plan EIR (SCH #2008032115), certified by the City Council on May 5, 2010. The Development Agreement Amendment does not result in any physical changes to the environment or changes to environmental impacts previously considered in connection with the approval of the existing Development Agreement. No additional environmental documentation is required.

SECTION 3. The Council of the City of Roseville has reviewed the findings of the Planning Commission recommending approval of the Seventh Amendment to Development Agreement, and makes the following findings:

1. The Seventh Amendment to the Development Agreement is consistent with the objectives, policies, programs and land use designations of the City of Roseville General Plan and the Sierra Vista Specific Plan;

2. The Seventh Amendment to the Development Agreement is consistent with the City of Roseville Zoning Ordinance;

3. The Seventh Amendment to the Development Agreement is in conformance with the public health, safety and welfare;

4. The Seventh Amendment to the Development Agreement will not adversely affect the orderly development of the property or the preservation of property values; and

5. The provisions of the Seventh Amendment to the Development Agreement will provide sufficient benefit to the City to justify entering into said Amendment. 2 SECTION 4. The Seventh Amendment to Development Agreement by and between the City of Roseville and FD34 Development, LLC, as assignee of Mourier Investments, LLC, a copy of which is on file in the City Clerk's Department and incorporated herein by reference, is hereby approved and the City Manager is authorized to execute it on behalf of the City of Roseville.

SECTION 5. The City Clerk is directed to record the executed Development Agreement Amendment within ten (10) days of the execution of the agreement by the City Manager with the County Recorder's Office of the County of Placer.

SECTION 6. This ordinance shall be effective at the expiration of thirty (30) days from the date of its adoption.

SECTION 7. The City Clerk is hereby directed to cause this ordinance to be published in full at least once within fourteen (14) days after it is adopted in a newspaper of general circulation in the City, or shall within fourteen (14) days after its adoption cause this ordinance to be posted in full in at least three (3) public places in the City and enter in the Ordinance Book a certificate stating the time and place of said publication by posting.

PASSED AND ADOPTED by the Council of the City of Roseville this ___ day of ____________ 2024, by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:
___________________________________
MAYOR
ATTEST:
______________________________________
City Clerk
Planning Division Staff Report
Planning Commission Meeting March 14, 2024
Prepared by: Kinarik Shallow, Associate Planner
ITEM 5.4: Development Agreement Amendment – 1600 Westbrook Boulevard and 3250 Pleasant Grove Boulevard – SVSP PCL FD-34 & WB-31 – Development Agreement Amendments – File #PL24-0151

REQUEST
The project is a request for a Seventh (7th) Amendment to the Westpark Federico Development Agreement and for a Fourth (4th) Amendment to the Westbrook Development Agreement to reflect the 48-unit density bonus on Sierra Vista Specific Plan (SVSP) Parcel FD-34 for a total of 304 units (with 302 units designated as affordable), and the transfer of the 6 low income affordable obligation from SVSP Parcel WB-31 to SVSP Parcel FD-34. Parcel FD-34 will have a resulting affordable unit allocation of 256 very-low income rental units and 46 low income rental units.

Applicant – Greg Bardini, Morton & Pitalo, Inc.

Property Owner – Scott Canel, Pine Island Apartments, LLC

SUMMARY RECOMMENDATION
The Planning Division recommends the Planning Commission take the following actions:

1. Recommend the City Council adopt the five (5) findings of fact and approve the Seventh Amendment to the SVSP Westpark Federico DA; and

2. Recommend the City Council adopt the five (5) findings of fact and approve the Fourth Amendment to the SVSP Westbrook DA.

SUMMARY OF OUTSTANDING ISSUES
There are no outstanding issues associated with this request. The applicant has reviewed and is in agreement with all recommended conditions of approval.

BACKGROUND
The project site consits of two vacant parcels located in the Sierra Vista Specific Plan (SVSP) area:

Parcels FD-34 and WB-31. Parcel FD-34 is located at 1600 Westbrook Boulevard (APN 498-020-014- 000) and Parcel WB-31 is located at 3250 Pleasant Grove Boulevard (APN 496-100-029-000) (see Figure 1). Both parcels have a land use designation of High Density Residential (HDR) and a zoning designation of Multi-Family Housing (R3). Parcel FD-34 has a current unit allocation of 256 units with all units designated as very-low income rental units, and Parcel WB-31 has a current unit allocation of 293 units with an affordable obligation of six (6) low income rental units.

CC ATTACHMENT 2
SVSP PCL FD-34 & WB-31 – Development Agreement Amendments, 1600 Westbrook Bl. & 3250 Pleasant Grove Bl.

File #PL24-0151
Planning Commission – March 14, 2024 – Page 2 of 4
Figure 1: Project Location (bordered in red)
In August 2023, an 84-unit density bonus was granted to Parcel FD-34 pursuant to State Density Bonus Law (Gov. Code, § 65915 et seq.). The applicant is currently proposing an additional 48-unit density bonus on Parcel FD-34, which will result in a total allocation of 304 units. Of the 304 units, 302 units will be designated as affordable rental units, with 256 designated as very-low income and 46 designated as low income. The six (6) low income unit obligation on Parcel WB-31 will be transferred to Parcel FD-34, and the 293 units allocated to Parcel WB-31 will all be developed as market rate units. Table 1 below outlines the current and proposed unit allocations.

Table 1: Current and Proposed Unit Allocations
Parcel
Density (units/acre) Currently Allocated
Units Proposed Units
Existing Proposed Total VeryLow Low Base
Units
Density
Bonus Total VeryLow Low
FD-34 36.630 43.2 256 256 0 256 48 304 256 46
WB-31 26.4 26.4 293 0 6 293 n/a 293 0 0
UNIT TOTALS 549 256 6 549 48 597 256 46
NET CHANGE +48 +0 +46
WB-31
Westbrook Bl
FD-34
Pleasant Grove Bl
SVSP PCL FD-34 & WB-31 – Development Agreement Amendments, 1600 Westbrook Bl. & 3250 Pleasant Grove Bl.

File #PL24-0151
Planning Commission – March 14, 2024 – Page 3 of 4
Each parcel is subject to a Development Agreement (DA), which outlines the affordable housing obligations. Although a density bonus would not ordinarily require a DA Amendment, the project requires DA Amendments in order to document the transfer of the affordable housing obligations among the project parcels. Therefore, the project is a request for a Seventh (7th) Amendment to the Westpark Federico Development Agreement and for a Fourth (4th) Amendment to the Westbrook Development Agreement to reflect the 48-unit density bonus Parcel FD-34 for a total of 304 units (with 302 units designated as affordable), and the transfer of the 6 low income affordable unit obligation from SVSP Parcel WB-31 to SVSP Parcel FD-34. No development is being proposed with this project. The increase in residential units, including affordable units, assists the City in fulfilling its share of the Regional Housing Needs Allocation (RHNA), as determined by Sacramento Area Council of Governments (SACOG) and approved by the California Department of Housing and Community Development (HCD).

EVALUATION – DEVELOPMENT AGREEMENT AMENDMENT
Section 19.84.040 of the City of Roseville Zoning Ordinance specifies that recommendations for approval or denial of a Development Agreement (DA), including Amendments, shall include consideration of the following:

1. Consistency with the objectives, policies, general land uses and programs specified in the General Plan and the Sierra Vista Specific Plan;

2. Consistency with the provisions of the City of Roseville Zoning Ordinance;

3. Conformity with the public health, safety and general welfare;

4. The effect on the orderly development of the property or the preservation of property values; and

5. Whether the provisions of the Agreement shall provide sufficient benefit to the City to justify entering into the Agreement.

Development Agreements (DAs) are binding contracts that set the terms, rules, conditions, regulations, entitlements, responsibilities, and other provisions relating to the development of the covered properties.

The project includes a seventh amendment to the SVSP Westpark Federico DA (Exhibit A) and a fourth amendment to the SVSP Westbrook DA (Exhibit B). Each DA Amendment is listed and discussed below.

Items that are not addressed in the amendments are subject to the terms of the original DAs and prior amendments.

Seventh Amendment to the Westpark Federico DA: The Westpark Federico DA covers SVSP Parcel FD34. The DA will be amended to reflect the 48-unit density bonus and revised affordable housing obligation for Parcel FD-34. The affordable unit obligation will be 256 very-low income and 46 low income units, for a total of 302 affordable rental units. The six (6) low income affordable unit obligation on Parcel WB-31 will be transferred to Parcel FD-34.

Fourth Amendment to the Westbrook DA: The Westbrook DA covers SVSP Parcel WB-31. The DA will be amended to remove the six (6) low income rental unit obligation on Parcel WB-31. As mentioned, the affordable obligation will be transferred to FD-34. All 293 units allocated to WB-31 will be provided as market rate units.

In summary, City staff has found the proposed DA Amendments to be consistent with the General Plan, SVSP, and the Zoning Ordinance. The City’s Housing Division reviewed the project and determined the proposed affordable unit obligations are acceptable and consistent with City policy. The DA Amendments are in conformance with the public health, safety, and welfare, and will not adversely affect the orderly SVSP PCL FD-34 & WB-31 – Development Agreement Amendments, 1600 Westbrook Bl. & 3250 Pleasant Grove Bl.

File #PL24-0151
Planning Commission – March 14, 2024 – Page 4 of 4
development of the property or the preservation of property values. Therefore, the proposed DA Amendments are consistent with items 1-5 above.

PUBLIC OUTREACH
The proposed project was distributed to all internal and external agencies and departments who have requested such notice, and all comments or recommended conditions of approval have been incorporated into the project, as appropriate. Early notification of the project was posted on the Roseville Coalition of Neighborhood Associations (RCONA)’s website. A notice of the public hearing was published in the Roseville Press Tribune on March 1, 2024 and a notice of the hearing was also distributed to all property owners within 300 feet of the site and posted on the RCONA website. No comments have been received as of publication of the staff report.

ENVIRONMENTAL DETERMINATION
This project is exempt from the provisions of the California Environmental Quality Act (CEQA) Guidelines pursuant to Section 15061(b)(3) (General Rule) and Section 305 of the City of Roseville CEQA Implementing Procedures. The Planning Manager has determined that this project is substantially consistent with the previously certified Sierra Vista Specific Plan EIR, certified by the City Council on May 5, 2010 (SCH #2008032115), and that the Development Agreement (DA) Amendments do not result in any physical changes to the environment or changes to environmental impacts previously considered in connection with the approval of the existing DAs. As such, no additional environmental documentation is required.

RECOMMENDATION
The Planning Division recommends the Planning Commission take the following actions:

1. Recommend the City Council adopt the five (5) findings of fact and approve the SEVENTH AMENDMENT TO THE SVSP WESTPARK FEDERICO DEVELOPMENT AGREEMENT – 1600 WESTBROOK BOULEVARD & 3250 PLEASANT GROVE BOULEVARD – SVSP PCL FD-34 & WB-31 – DEVELOPMENT AGREEMENT AMENDMENTS – FILE #PL24-0151; and

2. Recommend the City Council adopt the five (5) findings of fact and approve the FOURTH AMENDMENT TO THE SVSP WESTBROOK DEVELOPMENT AGREEMENT – 1600 WESTBROOK BOULEVARD & 3250 PLEASANT GROVE BOULEVARD – SVSP PCL FD-34 & WB-31 – DEVELOPMENT AGREEMENT AMENDMENTS – FILE #PL24-0151.

EXHIBITS
A. Seventh Amendment to the Westpark Federico DA
B. Fourth Amendment to the Westbrook DA
Note to Applicant and/or Developer: Please contact Planning Division staff at (916) 774-5276 prior to the Commission meeting if you have any questions on any of the recommended conditions for your project. If you challenge the decision of the Commission in court, you may be limited to raising only those issues which you or someone else raised at the public hearing held for this project, or in written correspondence delivered to the Planning Manager at, or prior to, the public hearing. - 1 -

SEVENTH AMENDMENT OF DEVELOPMENT AGREEMENT

BY AND BETWEEN

THE CITY OF ROSEVILLE AND WESTPARK SIERRA VISTA, LLC, AS

ASSIGNEE OF WESTPARK FEDERICO, LLC, MOURIER INVESTMENTS,

LLC, AND FEDERICO-TYLER FAMILY LIMITED PARTNERSHIP

RELATIVE TO THE SIERRA VISTA SPECIFIC PLAN
This Seventh Amendment of Development Agreement is entered into this ____ day of __________, 2024, by and between the CITY OF ROSEVILLE, a municipal corporation (“City”) and FD34 DEVELOPMENT, LLC, a California limited liability company (“FD34” or “Landowner”), as Assignee of MOURIER INVESTMENTS, LLC, a California limited liability company (“Mourier”), pursuant to Sections 65864 through 65869.5 of the Government Code of California.

RECITALS
A. Mourier, Westpark Federico, LLC, a California limited liability company (Westpark Federico"), and the Federico-Tyler Family Limited Partnership (“Federico”), and City, entered into a Development Agreement (the “Original Development Agreement”) which was approved by the City Council of City on May 19, 2010, and recorded on June 18, 2010, in the Official Records of Placer County as Document No. 2010-0045943-00. The Original Development Agreement encompassed a portion of the Sierra Vista Specific Plan (“Specific Plan”, “SVSP”, or “Plan Area”), as more precisely defined in Exhibits “A” and “B” of the Original Development Agreement (the “Property”). Except as otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed thereto in the Original Development Agreement, which, with all its various amendments, constitutes the “Development Agreement”.

B. Westpark Federico assigned its interest in the Development Agreement to Westpark Sierra Vista, LLC, a California limited liability company (“Westpark Sierra Vista”) pursuant to that certain Assignment and Assumption Agreement Relative to the Sierra Vista Specific Plan Development Agreement dated as of January 5, 2011, and recorded January 12, 2011, as Document No. 2011-0003089-00, in the Official Records of Placer County, California.

C. Westpark Sierra Vista, Mourier, Federico, and City entered into a First Amendment to the Development Agreement (the “First Amendment”) which was approved by the City Council of City on December 20, 2017, and recorded on February 21, 2018, in the Official Records of Placer County as Document No. 2018-0010796-00.

PC EXHIBIT A
- 2 -
D. Westpark Sierra Vista, Mourier, Federico, and City entered into the First Amendment relative to development within certain portion of the Property, as is more precisely defined in Exhibits “A” and “B” of the First Amendment.

E. Mourier and Federico assigned their interest in the Development Agreement with a respect to a portion of the Property to Westpark Sierra Vista in that certain Assignment and Assumption Agreement Relative to the Sierra Vista Specific Plan Development Agreement dated as of May 16, 2019, and recorded May 16, 2019, as Document No. 2019-0032322-00, in the Official Records of Placer County. The portion of the Property so assigned by Mourier and Federico to Westpark Sierra Vista was described in Exhibit “A” to that Assignment and Assumption Agreement Relative to the Sierra Vista Specific Plan Development Agreement.

F. Westpark Sierra Vista, as Assignee of Westpark Federico, and Federico-Tyler each assigned its interest in the Development Agreement with respect to a portion of the Property to Mourier pursuant to that certain Assignment and Assumption Agreement Relative to the Sierra Vista Specific Plan Development Agreement dated as of May 16, 2019, and recorded May 16, 2019, as Document No. 2019-0032321-00, in the Official Records of Placer County.

The portion of the Property so assigned by Westpark Sierra Vista and Federico to Mourier was described in Exhibit “A” to that Assignment and Assumption Agreement Relative to the Sierra Vista Specific Plan Development Agreement.

G. Westpark Sierra Vista assigned its interest in the Development Agreement for a portion of the Property to Solaire pursuant to that certain Assignment and Assumption Agreement Relative to the Sierra Vista Specific Plan Development Agreement dated as of June 3, 2019, and recorded June 4, 2019, as Document No. 2019-0037499-00, in the Official Records of Placer County.

H. On March 4, 2020, City approved the Second Amendment to the Development Agreement (the “Second Amendment”) for a portion of the Property owned by Mourier. The Second Amendment was recorded on April 13, 2020, as Document No. 2020-0032961-00, in the Official Records of Placer County.

The Original Development Agreement, the First Amendment, and the Second Amendment are hereinafter collectively referred to as the “Development Agreement.”
I. On October 7, 2020, City approved the Third Amendment to the Development Agreement (the “Third Amendment”) affecting certain portions of the Property (the “Third Amendment Property”), as described in Exhibit “A” and shown in Exhibit “B” attached to the Third Amendment. The Third - 3 -
Amendment was recorded on November 10, 2020, as Document No. 2020- 0128930-00, in the Official Records of Placer County.

J. Westpark Sierra Vista assigned its interest in the Development Agreement for an additional portion of the Property to Solaire pursuant to that certain Assignment and Assumption Agreement Relative to the Sierra Vista Specific Plan Development Agreement dated October 13, 2020, and recorded October 15, 2020, as Document No. 2020-0116422-00, in the Official Records of Placer County.

K. Mourier assigned a portion of its interest in the Development Agreement with respect to the Fourth Amendment Property (as defined below) to John Mourier Construction, Inc. (“JMC”) pursuant to that certain Assignment and Assumption Agreement Relative to the Sierra Vista Specific Plan Development Agreement dated January 12, 2021, and recorded January 15, 2021, as Document No. 2021-0005796-00 in the Official Records of Placer County, California.

L. On April 21, 2021, City approved the Fourth Amendment to the Development Agreement (the “Fourth Amendment”) affecting certain portions of the Property (the “Fourth Amendment Property”), as described in Exhibit “A” and shown in Exhibit “B” attached to the Fourth Amendment. The Fourth Amendment was recorded on July 1, 2021, as Document No. 2021-0085266-00 in the Official Records of Placer County, California.

M. On October 20, 2021, City approved the Fifth Amendment to the Development Agreement (the “Fifth Amendment” affecting certain portion of the Property (the “Fifth Amendment Property”), as described in Exhibit “A” and shown in Exhibit “B” attached to the Fifth Amendment. The Fifth Amendment was recorded on December 17, 2021, as Document No. 2021-0152422-00 in the Official Records of Placer County, California.

N. Mourier assigned a portion of its interest in the Development Agreement with respect to the Sixth Amendment Property (as defined below) to FD34 pursuant to that certain Assignment and Assumption Agreement Relative to the Sierra Vista Specific Plan Development Agreement dated January 12, 2023, and recorded January 12, 2023, as Document No. 2023-0001667-00, in the Official Records of Placer County, California.

O. On October 4, 2023, City approved the Sixth Amendment to the Development Agreement (the “Sixth Amendment”) affecting a certain portion of the Property (the “Sixth Amendment Property”), as described in Exhibit “A” and shown in Exhibit “B” attached to the Sixth Amendment. The Sixth Amendment - 4 -
was recorded on November 17, 2023, as Document No. 2023-0063102-00, in the Official Records of Placer County, California.

P. This Seventh Amendment to the Development Agreement (the “Seventh Amendment”) affects a certain portion of the Property commonly known as SVSP Parcel FD-34 (the “Seventh Amendment Property”), as described in Exhibit “A” and shown in Exhibit “B” attached to this Seventh Amendment, and shall run with the land described in Exhibits “A” and “B” hereto. This Seventh Amendment does not affect or apply in any manner with respect to the remainder of the Property described in the Development Agreement.

Q. Concurrent with its consideration of this Seventh Amendment, City is processing a density bonus to allow development of an increase in High Density Residential units developed on Parcel FD-34 from the allocated 256 units, including a previously approved density bonus of 84 High Density Residential units, to a total of 304 units, including an additional 48 High Density Residential units, consisting of (1) the existing affordable housing obligation of 256 units affordable to very-low income households earning no more than fifty percent (50%) of median income, as defined by City (hereinafter, “median income”), (2) an additional 46 units affordable to low income households earning no more than sixty percent (60%) of median income, as defined by City, and (3) 2 market rate units as manager’s units.

R. There is currently an obligation on Parcel WB-31 in the SVSP to provide six (6) units affordable to low income households at eighty percent (80%) of median income. That obligation to provide six (6) units affordable to low income households on Parcel WB-31 is being shifted to Parcel FD-34 as part of the density bonus for Parcel FD-34 (leaving 293 market rate units on Parcel WB31), as part of the 46 units affordable to low income households earning no more than sixty percent (60%) of median income that are being added to Parcel FD-34.

S. City and Landowner wish to enter into this Seventh Amendment in order to memorialize the obligations set forth above and to amend applicable provisions of the Development Agreement for the Seventh Amendment Property related thereto.

T. The Seventh Amendment is authorized by Section 1.4 of the Development Agreement.

NOW THEREFORE, THE PARTIES MUTUALLY AGREE AS FOLLOWS:

1. AMENDMENT OF DEVELOPMENT AGREEMENT. The
following sections of the Development Agreement are hereby amended as they - 5 -
pertain to the portion of the Property first assigned to Mourier and thereafter assigned to FD34:
a. REVISED SECTION 2.2. The summary table of Section 2.2 of the Development Agreement (“Vested Entitlements”) as it relates to property originally assigned to Mourier is revised as follows:
“High Density Residential *570 units on 24.4 Net Acres; *Parcel FD-34 includes 172 allocated HDR units plus a density bonus of 132 HDR units.”
b. REVISED SECTION 2.6.2.1. Section 2.6.2.1 of the Development Agreement is revised in its entirety to read as follows:
“2.6.2.1 Affordable Obligation. Landowner agrees that
three hundred and two(302) affordable rental units will be reserved within the Seventh Amendment Property, consisting of two hundred and fifty-six (256) units for rental to very low income households earning no more than fifty percent (50%) of median income, and forty-six (46) units for rental to low income households earning no more than sixty percent (60%) of median income, as follows:

Parcel Total Units
in Parcel
incl. density
bonus
Total Affordable
Unit Allocation
including
density bonus
Very Low
Income Rental
Units
Low Income
Rental Units
FD-34 304 302 256 46
Total 304 302 256 46

2. EXHIBITS. The exhibits attached to this Seventh Amendment are for this Seventh Amendment only, as follows:

Exhibit A – Legal Description of Seventh Amendment Property Exhibit B -- Plat of Seventh Amendment Property

3. CONSISTENCY WITH GENERAL PLAN. The City Council has
found and determined that this Seventh Amendment of the Development Agreement is consistent with the General Plan and the Sierra Vista Specific Plan.

4. AMENDMENT. This Seventh Amendment amends, but does not replace or supersede, the Development Agreement, except as specified herein, and is limited and applies only to development of the Seventh Amendment - 6 -
Property, and does not affect or apply in any manner with respect to the development of any other property within the Sierra Vista Specific Plan Area, including, without limitation, any other portion of the Property. As amended hereby, the Development Agreement remains in full force and effect.

5. FORM OF AMENDMENT. This Seventh Amendment is executed in two duplicate originals, each of which is deemed to be an original.

IN WITNESS WHEREOF, the City of Roseville, a municipal corporation, has authorized the execution of this Seventh Amendment in duplicate by its City Manager and attested to by its City Clerk under the authority of Ordinance No. ______, adopted by the Council of the City of Roseville on the ____ day of __________, 2024.

CITY OF ROSEVILLE,
a municipal corporation
By:______________________________
Dominick Casey
City Manager
ATTEST:

By:______________________________
Carmen Avalos
City Clerk
APPROVED AS TO FORM:

By:______________________________
Michelle Sheidenberger
City Attorney
APPROVED AS TO SUBSTANCE:

By:______________________________
Mike Isom
Development Services Director
LANDOWNER:

FD34 DEVELOPMENT, LLC, a
California limited liability company
By:____________________________
Scott I. Canel
Its: Manager
03/01/24 1

FOURTH AMENDMENT OF DEVELOPMENT AGREEMENT
BY AND BETWEEN THE CITY OF ROSEVILLE AND WESTPARK S.V. 400, LLC,

RELATIVE TO THE SIERRA VISTA SPECIFIC PLAN
(Parcel WB‐31)
This Fourth Amendment of Development Agreement is entered into this _______ day of ______________, 2024, by and between the CITY OF ROSEVILLE, a municipal corporation (“City”), and PINE ISLAND APARTMENTS, LLC, an Indiana limited liability company (“Pine Island” or “Landowner”), as successor in interest to WESTPARK S.V. 400, LLC, a California limited liability company (“Westpark”), pursuant to the authority of Sections 65864 through 65869.5 of the California Government Code.

RECITALS
A. Westpark and City entered into a Development Agreement (the “Development Agreement”) which was approved by the City Council of City on June 20, 2012, and recorded on July 25, 2012, in the Official Records of Placer County as Document No. 2012‐0066790‐00. City and Westpark entered into the Development Agreement relative to development within a portion of the Sierra Vista Specific Plan (“Specific Plan”, “SVSP”, or “Plan Area”), as described in Exhibit “A” and shown in Exhibit “B” to the Development Agreement (the “Property”), and attached thereto.

B. On May 4, 2016, City approved the First Amendment to the Development Agreement (the “First Amendment”) relative to development within a portion of the SVSP, as more precisely defined in Exhibits “A” and “B” attached to the First Amendment, which was recorded on May 11, 2016, as Document No. 2016‐0035988‐00, in the Official Records of Placer County.

C. Westpark assigned its interest for a portion of the Property to Pine Island pursuant to that certain Assignment and Assumption Agreement Relative to the Sierra Vista Specific Plan Development Agreement dated as of November 10, 2021, and recorded November 10, 2021, as Document No. 2021‐0139629‐00, in the Official Records of Placer County.

D. On February 2, 2022, City approved the Second Amendment to the Development Agreement (the “Second Amendment”) relative to development within a portion of the Property, as more precisely defined in Exhibits “A” and “B” attached to

PC EXHIBIT B
03/01/24 2
the Second Amendment, which was recorded on March 10, 2022, as Document No. 2022‐0021197‐00, in the Official Records of Placer County.

E. On October 4, 2023, City approved the Third Amendment to the Development Agreement (the “Third Amendment”) relative to development within a portion of the Property, as more precisely defined in Exhibits “A” and “B” attached to the Third Amendment, which was recorded on November 17, 2023, as Document No. 2023‐0063101‐00, in the Official Records of Placer County.

F. This Fourth Amendment to the Development Agreement (the “Fourth Amendment”) affects a certain portion of the Property commonly known as SVSP Parcel WB‐31 (the “Fourth Amendment Property”), as described in Exhibit “A” and as shown in Exhibit “B” attached to this Fourth Amendment. This Fourth Amendment does not affect or apply in any manner with respect to the remainder of the Property described in the Development Agreement.

G. City previously approved administratively a transfer of the affordable housing obligation for 6 High Density Residential units affordable to low income households, as defined by City, from Parcels WB‐30 and WB‐32 to Parcel WB‐31.

Concurrent with its consideration of this Fourth Amendment, City is processing a density bonus for SVSP Parcel FD‐34 to allow development of an increase in High Density Residential units developed on SVSP Parcel FD‐34 from the allocated 256 units, including a previously approved density bonus of 84 High Density Residential units, to a total of 304 allocated units, including an additional 48 High Density Residential units, with 256 of the 304 allocated units assigned to Parcel FD‐34 to be affordable to very‐low income households, as defined by City, earning no more than fifty percent (50%) of area median income, and 46 of the 304 allocated units assigned to Parcel FD‐34 to be affordable to low income households, as defined by City, earning no more than sixty percent (60%) of area median income, and 2 market rate units as manager’s units. The affordable housing obligation for 6 of those 302 affordable units is being transferred by this Fourth Amendment to Parcel FD‐34 from Parcel WB‐31 as part of the resulting 46 units affordable to low income households on Parcel FD‐34, leaving 293 market rate High Density Residential units on Parcel WB‐31. City and Landowner enter into this Fourth Amendment in order to memorialize the transfer of the affordable housing obligation from Parcel WB‐31 to Parcel FD‐34.

H. The Fourth Amendment is authorized by Section 1.4 of the Development Agreement.
03/01/24 3
NOW, THEREFORE, THE PARTIES MUTUALLY AGREE AS FOLLOWS:

1. AMENDMENT OF DEVELOPMENT AGREEMENT. The following
section of the Development Agreement is hereby amended as follows:
b. REVISED SECTION 2.6.2. Section 2.6.2 of the Development Agreement is revised in its entirety to read as follows:
“2.6.2. Multi Family Affordable Rental Units. Landowner agrees that five hundred and forty-oneseven (5417) affordable rental units for low income households shall be reserved within the Property, as follows:

Parcel Total Units in Parcel
incl. density bonus
Low Income Rental
Units
Very Low Income
Units
WB-30 355 351 0
WB-31 293 6 0
WB-32 192 190 0
TOTAL 547840 5417 0

2. EXHIBITS. The exhibits attached to this Fourth Amendment are for this Fourth Amendment only, as follows:

Exhibit A – Legal Description of Fourth Amendment Property Exhibit B -- Plat of Fourth Amendment Property

3. CONSISTENCY WITH GENERAL PLAN. The City Council has found and determined that this Fourth Amendment of the Development Agreement is consistent with the General Plan and the Sierra Vista Specific Plan.

4. AMENDMENT. This Fourth Amendment amends, but does not replace or supersede, the Development Agreement, except as specified herein. As amended hereby, the Development Agreement remains in full force and effect.

5. FORM OF AGREEMENT. This Fourth Amendment is executed in two duplicate originals, each of which is deemed to be an original.

IN WITNESS WHEREOF, the City of Roseville, a municipal corporation, has authorized the execution of the Fourth Amendment in duplicate by its City Manager as attested to by its City Clerk under the authority of Ordinance No. ___________, adopted by the Council of the City of Roseville on the ____________ day of ___________, 2024. 03/01/24 4
CITY OF ROSEVILLE, LANDOWNER:
a municipal corporation

PINE ISLAND APARTMENTS, LLC
an Indiana limited liability company
By:___________________________
Dominick Casey
City Manager By:_____________________________
Scott I. Canel
ATTEST: Manager

By: ___________________________
Carmen Avalos
City Clerk

APPROVED AS TO FORM:

By: ___________________________
Michelle Sheidenberger
City Attorney

APPROVED AS TO SUBSTANCE:

By: ___________________________
Mike Isom
Development Services Director

ORDINANCE NO.

ADOPTING A FOURTH AMENDMENT OF THE DEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF ROSEVILLE AND WESTPARK S.V. 400, LLC, RELATIVE TO

THE SIERRA VISTA SPECIFIC PLAN AND AUTHORIZING THE CITY MANAGER TO

EXECUTE IT ON BEHALF OF THE CITY OF ROSEVILLE
THE CITY OF ROSEVILLE ORDAINS:

SECTION 1. In accordance with Chapter 19.84 of Title 19 of the Roseville Municipal Code (the Zoning Ordinance) of the City of Roseville, the City Council has received the recommendation of the Planning Commission that the City of Roseville enter into a Fourth Amendment of the Development Agreement by and between the City of Roseville, and Pine Island Apartments, LLC, as successor in interest to Westpark S.V. 400, LLC, pertaining to property located within the Sierra Vista Specific Plan area.

SECTION 2. The Fourth Amendment to Development Agreement is exempt from environmental review pursuant to Section 15182 of the California Environmental Quality Act (CEQA) Guidelines, as a residential project pursuant to a Specific Plan. A project is eligible for this exemption if the public agency has prepared an EIR on a specific plan after January 1, 1980, and the criteria to require a subsequent or supplemental EIR are not met. The EIR for the Sierra Vista Specific Plan (SCH #2008032115) was certified by the City Council on May 5, 2010. No significant changes to the site or new, potentially significant impacts have been identified that would require the preparation of a subsequent or supplemental EIR, and the Development Agreement Amendment is consistent with the previously completed analysis.

SECTION 3. The Council of the City of Roseville has reviewed the findings of the Planning Commission recommending approval of the Fourth Amendment to Development Agreement, and makes the following findings:

1. The Fourth Amendment to the Development Agreement is consistent with the objectives, policies, programs and land use designations of the City of Roseville General Plan and the Sierra Vista Specific Plan;

2. The Fourth Amendment to the Development Agreement is consistent with the City of Roseville Zoning Ordinance;

3. The Fourth Amendment to the Development Agreement is in conformance with the public health, safety and welfare;

4. The Fourth Amendment to the Development Agreement will not adversely affect the orderly development of the property or the preservation of property values; and

5. The provisions of the Fourth Amendment to the Development Agreement will provide sufficient benefit to the City to justify entering into said Amendment.

SECTION 4. The Fourth Amendment to Development Agreement by and between the City of Roseville, Pine Island Apartments, LLC, as successor in interest to Westpark S.V. 400, LLC, a 2 copy of which is on file in the City Clerk's Department and incorporated herein by reference, is hereby approved and the City Manager is authorized to execute it on behalf of the City of Roseville.

SECTION 6. This ordinance shall be effective at the expiration of thirty (30) days from the date of its adoption.

PASSED AND ADOPTED by the Council of the City of Roseville this ___ day of ____________ 2024, by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:
___________________________________
MAYOR
ATTEST:
______________________________________
City Clerk
ORDINANCE NO.

ADOPTING A FOURTH AMENDMENT OF THE DEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF ROSEVILLE AND WESTPARK S.V. 400, LLC, RELATIVE TO

THE SIERRA VISTA SPECIFIC PLAN AND AUTHORIZING THE CITY MANAGER TO

EXECUTE IT ON BEHALF OF THE CITY OF ROSEVILLE
THE CITY OF ROSEVILLE ORDAINS:

SECTION 1. In accordance with Chapter 19.84 of Title 19 of the Roseville Municipal Code (the Zoning Ordinance) of the City of Roseville, the City Council has received the recommendation of the Planning Commission that the City of Roseville enter into a Fourth Amendment of the Development Agreement by and between the City of Roseville, and Pine Island Apartments, LLC, as successor in interest to Westpark S.V. 400, LLC, pertaining to property located within the Sierra Vista Specific Plan area.

SECTION 2. The Fourth Amendment to Development Agreement is exempt from environmental review pursuant to California Environmental Quality Act (CEQA) Section 15061(b)(3) (General Rule) and Section 305 of the City of Roseville CEQA Implementing Procedures. The Planning Manager has determined that this project is substantially consistent with the previously certified Sierra Vista Specific Plan EIR (SCH #2008032115), certified by the City Council on May 5, 2010. The Development Agreement Amendment does not result in any physical changes to the environment or changes to environmental impacts previously considered in connection with the approval of the existing Development Agreement. No additional environmental documentation is required.

2. The Fourth Amendment to the Development Agreement is consistent with the City of Roseville Zoning Ordinance;

3. The Fourth Amendment to the Development Agreement is in conformance with the public health, safety and welfare;

4. The Fourth Amendment to the Development Agreement will not adversely affect the orderly development of the property or the preservation of property values; and

5. The provisions of the Fourth Amendment to the Development Agreement will provide sufficient benefit to the City to justify entering into said Amendment.

SECTION 6. This ordinance shall be effective at the expiration of thirty (30) days from the date of its adoption.

PASSED AND ADOPTED by the Council of the City of Roseville this ___ day of ____________ 2024, by the following vote on roll call:

AYES COUNCILMEMBERS:

NOES COUNCILMEMBERS:

ABSENT COUNCILMEMBERS:
___________________________________
MAYOR
ATTEST:
______________________________________
City Clerk

COUNCIL COMMUNICATION
CC #: 3231
File #: 0709-01 & 0103-03-02
Title: HOUSING AUTHORITY - FY2024-25 Annual Plan
Contact: Suzi Cook-Turner 916-774-5414 [email protected] Trisha Isom 916-746-1239 [email protected]
Meeting Date: 4/3/2024
Item #: 9.3.

RECOMMENDATION TO COUNCIL
Staff recommends that the City Council, acting as the governing board for the Roseville Housing Authority, take the following actions:

1. Adopt a resolution to approve the FY2024-25 Roseville Housing Authority Annual Plan; and

2. Authorize the Executive Director to submit the FY2024-25 Roseville Housing Authority Annual Plan to the U.S. Department of Housing & Urban Development along with the required certifications, disclosures, and related documents.

BACKGROUND
Pursuant to the 1998 Quality Housing and Work Responsibility Act (QHWRA), all housing authorities must submit an Agency Plan, which includes a Five-Year Plan and an Annual Plan. The U.S. Department of Housing and Urban Development (HUD) designed the Agency Plan to reflect the current and future goals of all housing authorities. It is also intended to identify the needs of the households served by Roseville Housing Authority (RHA). HUD has designated RHA as a “High Performer” for the last 19 years which allows RHA to submit a simplified annual plan. RHA submitted its Five-Year Plan to HUD in 2020 and RHA is only required to submit an Annual Plan for 2024.

RHA is able to provide up to 823 households with Housing Choice Voucher (HCV) rental assistance funded through HUD. This total includes several special voucher programs including Emergency Housing Vouchers, Mainstream vouchers and VASH vouchers that serve those coming directly from homelessness.

The mission of RHA is to provide the opportunity for decent, safe and sanitary affordable housing to very low and extremely low-income families in Roseville and Rocklin by:
effectively administering Housing Choice Voucher rental assistance funds; delivering a high level of customer service; and
encouraging family self-sufficiency.

In the last year, RHA has made much progress toward the goals in the Annual Plan. RHA continues to apply for and implement new voucher programs while working with Placer County’s Continuum of Care in order to expand the supply of assisted housing. RHA continues to work toward the goal of improving the quality of assisted housing by managing new Project-Based Vouchers (PBVs) as well as performing Housing Quality Standards inspections on existing properties. RHA has also implemented a landlord recruitment program which includes marketing and monetary incentives for new landlords in order to increase assisted housing choices. The plan also highlights the progress made in the area of affirmatively furthering Fair Housing as well as collaboration with homeless housing service providers and other local jurisdictions.

The draft plan is required to have a 45-day local comment period before it is heard at a public hearing. The 45-day comment period was noticed and commenced on February 15, 2024, closing March 20, 2024. To date, staff has not received any comments from the public regarding this item.

RHA’s Resident Advisory Board (RAB) members were provided with copies of the draft Annual Plan. Their comments supported the content of the proposed Annual Plan, including RHA’s goals and its progress in meeting them.

Subject to the Housing Authority Board’s action on the proposed Annual Plan, staff anticipates submitting the final document to HUD in compliance with the April 15, 2024 due date.

FISCAL IMPACT
RHA provides an important social service to ensure safe and affordable housing for our residents which is an essential component to the foundation of our community’s economic and social stability. Through monthly rental assistance payments, the Housing Choice Voucher Program invests $8 million into the local rental economy annually. This item does not create any additional cost to the City’s General Fund.

ENVIRONMENTAL REVIEW
The California Environmental Quality Act (CEQA) does not apply to activities that will not result in a direct or reasonably foreseeable indirect physical change in the environment, or is otherwise not considered a project as defined by CEQA Statute §21065 and CEQA State Guidelines §15060(c)(3) and §15378. The Roseville Housing Authority Annual Plan meets the above criteria and is not subject to CEQA. No additional environmental review is required.

CITY COUNCIL STRATEGIC PLAN/OVERARCHING GOALS
Goal C - Maintain a safe and healthy community.

Respectfully Submitted,
Suzi Cook-Turner, Housing Supervisor
Melissa Anguiano, Economic Development Director
_____________________________
Dominick Casey, City Manager
ATTACHMENTS:

Description
Resolution 2-24
RHA FY2024-25Annual Plan
Public NoticeAnnual Plan 2024-25
RESOLUTION NO. 2-24

HOUSING AUTHORITY OF THE CITY OF ROSEVILLE
APPROVING THE FY2024-25 ANNUAL PLAN
WHEREAS, the Department of Housing and Urban Development (HUD) requires all housing authorities to submit an Agency Plan, which includes an Annual Plan; and WHEREAS, staff has prepared the Annual Plan for FY2024-25; and WHEREAS, the Housing Authority has reviewed the plan;

NOW, THEREFORE, THE HOUSING AUTHORITY OF THE CITY OF ROSEVILLE DOES HEREBY RESOLVE that:

1. The Roseville Housing Authority Annual Plan for FY2024-25 is hereby approved,

2. The Executive Director is authorized to submit the Roseville Housing Authority Annual Plan for FY2024-25 to the U.S. Department of Housing and Urban Development along with all required certifications, disclosures, and related documents.

PASSED AND ADOPTED by the Housing Authority of the City of Roseville this _______ day of __________________, 20___, by the following vote on roll call:

AYES AUTHORITY MEMBERS:

NOES AUTHORITY MEMBERS:

ABSENT AUTHORITY MEMBERS:
___________________________
Chair
ATTEST:
________________________
Secretary
Streamlined Annual
PHA Plan
(HCV Only PHAs)
U.S. Department of Housing and Urban Development
Office of Public and Indian Housing
OMB No. 2577-0226
Expires 03/31/2024

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Purpose. The 5-Year and Annual PHA Plans provide a ready source for interested parties to locate basic PHA policies, rules, and requirements concerning the PHA’s operations, programs, and services, including changes to these policies, and informs HUD, families served by the PHA, and members of the public of the PHA’s mission, goals and objectives for serving the needs of low- income, very low- income, and extremely low- income families.

Applicability. The Form HUD-50075-HCV is to be completed annually by HCV-Only PHAs. PHAs that meet the definition of a Standard PHA, Troubled PHA, High Performer PHA, Small PHA, or Qualified PHA do not need to submit this form. Where applicable, separate Annual PHA Plan forms are available for each of these types of PHAs.

Definitions.
(1) High-Performer PHA – A PHA that owns or manages more than 550 combined public housing units and housing choice vouchers, and was designated as a high performer on both the most recent Public Housing Assessment System (PHAS) and Section Eight Management Assessment Program (SEMAP) assessments if administering both programs, or PHAS if only administering public housing. (2) Small PHA - A PHA that is not designated as PHAS or SEMAP troubled, that owns or manages less than 250 public housing units and any number of vouchers where the total combined units exceed 550.
(3) Housing Choice Voucher (HCV) Only PHA - A PHA that administers more than 550 HCVs, was not designated as troubled in its most recent SEMAP assessment and does not own or manage public housing.
(4) Standard PHA - A PHA that owns or manages 250 or more public housing units and any number of vouchers where the total combined units exceed 550, and that was designated as a standard performer in the most recent PHAS and SEMAP assessments. (5) Troubled PHA - A PHA that achieves an overall PHAS or SEMAP score of less than 60 percent. (6) Qualified PHA - A PHA with 550 or fewer public housing dwelling units and/or housing choice vouchers combined and is not PHAS or SEMAP troubled.

A. PHA Information.

A.1 PHA Name: ROSEVILLE HOUSING AUTHORITY PHA Code: CA128 PHA Plan for Fiscal Year Beginning: (MM/YYYY): 07/2024
PHA Inventory (Based on Annual Contributions Contract (ACC) units at time of FY beginning, above) Number of Housing Choice Vouchers (HCVs) _823
PHA Plan Submission Type: Annual Submission Revised Annual Submission Availability of Information. In addition to the items listed in this form, PHAs must have the elements listed below readily available to the public.

A PHA must identify the specific location(s) where the proposed PHA Plan, PHA Plan Elements, and all information relevant to the public hearing and proposed PHA Plan are available for inspection by the public. Additionally, the PHA must provide information on how the public may reasonably obtain additional information of the PHA policies contained in the standard Annual Plan but excluded from their streamlined submissions. At a minimum, PHAs must post PHA Plans, including updates, at the main office or central office of the PHA. PHAs are strongly encouraged to post complete PHA Plans on their official website.

Copies of the PHA Plans may be obtained at the Agency’s main office and online:
316 Vernon Street, Suite 150
Roseville, CA 95678
https://www.roseville.ca.us/hcv
PHA Consortia: (Check box if submitting a joint Plan and complete table below) Participating PHAs PHA Code Program(s) in the Consortia Program(s) not in the Consortia No. of Units in Each Program
Lead HA:

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B. Plan Elements.

B.1
Revision of Existing PHA Plan Elements.
a) Have the following PHA Plan elements been revised by the PHA since its last Annual Plan submission? Y N
Statement of Housing Needs and Strategy for Addressing Housing Needs.

Deconcentration and Other Policies that Govern Eligibility, Selection, and Admissions.

Financial Resources.

Rent Determination.

Operation and Management.

Informal Review and Hearing Procedures.

Homeownership Programs.

Self Sufficiency Programs and Treatment of Income Changes Resulting from Welfare Program Requirements.

Substantial Deviation.

Significant Amendment/Modification.
(b) If the PHA answered yes for any element, describe the revisions for each element(s):

RHA received funds from AMI Housing, Inc. through their homeless prevention and rapid rehousing program. The $65,000 grant assisted with the establishment of an owner incentive program.

The Homeless Resource Council of the Sierras awarded RHA a $100,000 grant through the Homeless Housing, Assistance and Prevention Program Round Three (HHAP3) grant. This grant is for the continued operation of RHA’s owner incentive program and landlord liaison activities.

B.2 New Activities. – Not Applicable

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B.3 Progress Report.

Provide a description of the PHA’s progress in meeting its Mission and Goals described in its 5-Year PHA Plan.

RHA Mission Statement:

The mission of the Roseville Housing Authority is to provide opportunity for decent, safe and sanitary affordable housing to very low and extremely low-income families in Roseville and Rocklin by:
o Effectively administering Housing Choice Voucher rental assistance funds (a) PROGRESS: The Roseville Housing Authority has effectively administered Housing Choice Voucher rental assistance funds by monthly reviewing available funds and lease up to determine further leasing strategy. This has resulted in utilizing the full budget authority for the last calendar year, short fall funding as well as reserve funds keeping all families housed. (b) PROGRESS: RHA maintained its “high performer” rating (SEMAP) o Assisting families with opportunities for safe, decent and affordable housing. (a) PROGRESS: By carefully monitoring market trends, lease-up, and success rates, RHA assisted the largest number of families possible. 2023 utilization for HCV vouchers was 96.7%
(b) PROGRESS: RHA established an owner incentive program with a total of $165,000 in grant funds. This program has increased the number of new landlords who entered into a HAP contract with RHA, ultimately giving families more opportunities to find a unit.
o Delivering a high level of customer service
(a) PROGRESS: RHA assigned one staff member to be the Landlord Liaison so they have one point of contact to answer questions and receive information about the HCV program and RHA policies and procedures. (b) PROGRESS: RHA reorganized the housing caseloads by landlord. The reorganization pairs large properties with one technician instead of property owners/managers having to speak to several housing technicians. This reorganization allows for more consistent and cohesive communication.
(c) PROGRESS: RHA’s level of customer service remains high. Both owners and participants have direct phone numbers and emails for their caseworkers and all calls are returned no later than the next business day. RFTAs are approved as soon as possible and movein inspection are completed within 2 business days of when the unit is available for inspection. (d) PROGRESS: Partnering with AffordableHousing.com has enabled property managers and landlords to list their available properties/units through the online portal free of charge giving applicants and participants easier access to available unit information. o Encouraging family self-sufficiency
(a) PROGRESS: Roseville Housing Authority continues its collaboration with Placer County Housing Authority (PCHA). This joint effort includes the complete revamp of the Program Coordinating Committee (PCC). PCHA’s strong Placer County connections to resources and services and RHA’s access to Roseville Rocklin area resources have resulted in a strong and active PCC. (b) PROGRESS: RHA had 6 new participants enroll in the FSS Program in 2023 making a total of 26 active participants at the end of the year. 3 participants completed their COP and collected $28,683 in escrow. (c) PROGRESS: FSS staff intends on expanding the number of participants it currently serves. The current goal is to maintain 24 FSS participants, this is being expanded to 30 participants.

The mission shall be accomplished by a fiscally responsible, creative organization committed to excellence in public service.

Goals for the current 5-Year Plan:

1. Expand the supply of assisted housing.
(a) PROGRESS: After making 75 PBVs available under an RFP, RHA received 6 applications from developers and awarded 60 PBV in total for all projects. An additional 8 PBVs were awarded to a Permanent Supportive Housing project. (b) PROGRESS: HUD awarded RHA 8 additional HCVs on October 1, 2022. This was the first award of regular vouchers in over 12 years.
(c) PROGRESS: RHA applied for and was awarded 10 HUD VASH vouchers in February 2023. (d) PROGRESS: RHA continues to look for opportunities to apply for more vouchers as NOFO’s are released from HUD.

2. Improve the quality of assisted housing.
(a) PROGRESS: RHA is administering project-based vouchers, mainly to new developments as an option so that the quality of housing assisted by the PBV program is further reviewed by RHA. In a community with a low vacancy rate, it is important to make PBV vouchers a priority to assist with production of new and high-quality housing opportunities. (b) PROGRESS: RHA performs biennial Housing Quality Standards inspections for all program participants.

3. Increase assisted housing choices.

The Roseville Housing Authority will continue to encourage property owners to provide available unit information for Housing Choice Voucher holders that are searching for a rental unit.
(a) PROGRESS: In 2023, RHA established an owner incentive program which helped attracting 29 new owners to the program. (b) PROGRESS: RHA has a dedicated staff member that landlords can contact directly to get information about the HCV program and have their questions answered about RHA policies and procedures. (c) PROGRESS: RHA continues to encourage landlords to list their available units through the AffordableHousing.com portal. This service is free for landlords with a basic listing and free to participants searching for units.

The Roseville Housing Authority will monitor HAP payments monthly to ensure that at least 98% of the Annual Contributions Contract is utilized or that 98% of total unit months are leased each year.
(d) PROGRESS: For CY 2023 RHA utilized 96.8% of regular HCV vouchers, 99.2% of NED vouchers, 77.9% of Mainstream vouchers, 78.8% of EHV and 70.2% of HUD VASH vouchers. RHA is working within the budget and in partnership with housing owners and managers and the Department of Veteran’s Affairs to fully utilize all HCV, NED, Mainstream, EHV and HUD VASH vouchers.

While vouchers were not fully leased, over 100 percent of the Annual Contributions Contract was utilized, including the use of program reserve funding as well as shortfall funds.

4. Affirmatively further Fair Housing

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The Roseville Housing Authority will provide training opportunities for staff to promote equal opportunity in housing. (a) PROGRESS: RHA actively looks for training opportunities and events related to Fair Housing. (b) PROGRESS: RHA staff attended a Fair Housing training in April 2023 as well as other trainings related to the fair housing subject including attending training surrounding reasonable accommodations. (c) PROGRESS: RHA encourages participants to engage in the reasonable accommodation (RA) process and actively addresses RA requests.

5. Collaborating with homeless housing service providers and other local jurisdictions (a) PROGRESS: RHA continues to work with the local CoC – Housing Resource Council of the Sierras (HRCS). (b) PROGRESS: RHA, through the CoC, collaborated with 11 agencies to refer applicants to the Emergency Housing Voucher (EHV) program where RHA issued all 50 of its EHVs to applicants within a year of receipt of the vouchers. (c) PROGRESS: RHA collaborated with AMI Housing INC in establishing an owner incentive program to help attract more owners thus more units to the program.

The Roseville Housing Authority maintains a close relationship with surrounding housing authorities. (d) PROGRESS: RHA continues to work in partnership with PCHA in different PHA programs such as the EHV program as well as our VASH vouchers. The FSS program is our most recent collaboration with PCHA. (e) PROGRESS: Continued collaboration with 5 agencies via the CoC with referrals to RHA’s Mainstream Voucher program. (f) PROGRESS: RHA continues to collaborate with PCHA and the joint FSS Program Coordinating Committee. The committee meets quarterly and continues to add new members (resources).

B.4 Capital Improvements. – Not Applicable
B.5 Most Recent Fiscal Year Audit.
(a) Were there any findings in the most recent FY Audit?

Y N N/A

(b) If yes, please describe:

C. Other Document and/or Certification Requirements.

C.1 Resident Advisory Board (RAB) Comments.
(a) Did the RAB(s) have comments to the PHA Plan?
Y N

(b) If yes, comments must be submitted by the PHA as an attachment to the PHA Plan. PHAs must also include a narrative describing their analysis of the RAB recommendations and the decisions made on these recommendations.

C.2 Certification by State or Local Officials.

Form HUD 50077-SL, Certification by State or Local Officials of PHA Plans Consistency with the Consolidated Plan, must be submitted by the PHA as an electronic attachment to the PHA Plan.

C.3 Civil Rights Certification/ Certification Listing Policies and Programs that the PHA has Revised since Submission of its Last Annual Plan.

Form HUD-50077-ST-HCV-HP, PHA Certifications of Compliance with PHA Plan, Civil Rights, and Related Laws and Regulations Including PHA Plan Elements that Have Changed, must be submitted by the PHA as an electronic attachment to the PHA Plan.

C.4
Challenged Elements. If any element of the PHA Plan is challenged, a PHA must include such information as an attachment with a description of any challenges to Plan elements, the source of the challenge, and the PHA’s response to the public. (a) Did the public challenge any elements of the Plan?
Y N

If yes, include Challenged Elements.

D. Affirmatively Furthering Fair Housing (AFFH).

D.1 Affirmatively Furthering Fair Housing (AFFH).

Provide a statement of the PHA’s strategies and actions to achieve fair housing goals outlined in an accepted Assessment of Fair Housing (AFH) consistent with 24 CFR § 5.154(d)(5). Use the chart provided below. (PHAs should add as many goals as necessary to overcome fair housing issues and contributing factors.) Until such time as the PHA is required to submit an AFH, the PHA is not obligated to complete this chart. The PHA will fulfill, nevertheless, the requirements at 24 CFR § 903.7(o) enacted prior to August 17, 2015. See Instructions for further detail on completing this item.

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Instructions for Preparation of Form HUD-50075-HCV
Annual PHA Plan for HCV-Only PHAs
___________________________________________________________________________ A. PHA Information. All PHAs must complete this section. (24 CFR §903.4) A.1 Include the full PHA Name, PHA Code, PHA Type, PHA Fiscal Year Beginning (MM/YYYY), Number of Housing Choice Vouchers (HCVs), PHA Plan Submission Type, and the Availability of Information, specific location(s) of all information relevant to the public hearing and proposed PHA Plan.

Fair Housing Goal:

Describe fair housing strategies and actions to achieve the goal Fair Housing Goal:

Describe fair housing strategies and actions to achieve the goal

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PHA Consortia: Check box if submitting a Joint PHA Plan and complete the table. (24 CFR §943.128(a)) B. Plan Elements. All PHAs must complete this section. (24 CFR §903.11(c)(3)) B.1 Revision of Existing PHA Plan Elements. PHAs must:

Identify specifically which plan elements listed below that have been revised by the PHA. To specify which elements have been revised, mark the “yes” box. If an element has not been revised, mark “no."
Statement of Housing Needs and Strategy for Addressing Housing Needs. Provide a statement addressing the housing needs of low-income, very low-income and extremely low-income families and a brief description of the PHA’s strategy for addressing the housing needs of families who reside in the jurisdiction served by the PHA and other families who are on the Section 8 tenant-based assistance waiting lists. The statement must identify the housing needs of (i) families with incomes below 30 percent of area median income (extremely low-income); (ii) elderly families (iii) households with individuals with disabilities, and households of various races and ethnic groups residing in the jurisdiction or on the public housing and Section 8 tenantbased assistance waiting lists. The statement of housing needs shall be based on information provided by the applicable Consolidated Plan, information provided by HUD, and generally available data. The identification of housing needs must address issues of affordability, supply, quality, accessibility, size of units, and location. Once the PHA has submitted an Assessment of Fair Housing (AFH), which includes an assessment of disproportionate housing needs in accordance with 24 CFR 5.154(d)(2)(iv), information on households with individuals with disabilities and households of various races and ethnic groups residing in the jurisdiction or on the waiting lists no longer needs to be included in the Statement of Housing Needs and Strategy for Addressing Housing Needs. (24 CFR § 903.7(a)).

The identification of housing needs must address issues of affordability, supply, quality, accessibility, size of units, and location. (24 CFR §903.7(a)(2)(i)) Provide a description of the ways in which the PHA intends, to the maximum extent practicable, to address those housing needs in the upcoming year and the PHA’s reasons for choosing its strategy. (24 CFR §903.7(a)(2)(ii)) Deconcentration and Other Policies that Govern Eligibility, Selection, and Admissions. A statement of the PHA’s policies that govern resident or tenant eligibility, selection and admission including admission preferences for HCV. (24 CFR §903.7(b)) Financial Resources. A statement of financial resources, including a listing by general categories, of the PHA’s anticipated resources, such as PHA HCV funding and other anticipated Federal resources available to the PHA, as well as tenant rents and other income available to support tenant-based assistance. The statement also should include the non-Federal sources of funds supporting each Federal program, and state the planned use for the resources. (24 CFR §903.7(c))
Rent Determination. A statement of the policies of the PHA governing rental contributions of families receiving tenant-based assistance, discretionary minimum tenant rents, and payment standard policies. (24 CFR §903.7(d)) Operation and Management. A statement that includes a description of PHA management organization, and a listing of the programs administered by the PHA. (24 CFR §903.7(e)).

Informal Review and Hearing Procedures. A description of the informal hearing and review procedures that the PHA makes available to its applicants. (24 CFR §903.7(f))
Homeownership Programs. A statement describing any homeownership programs (including project number and unit count) administered by the agency under section 8y of the 1937 Act, or for which the PHA has applied or will apply for approval. (24 CFR §903.7(k)) Self Sufficiency Programs and Treatment of Income Changes Resulting from Welfare Program Requirements. A description of any PHA programs relating to services and amenities coordinated, promoted, or provided by the PHA for assisted families, including those resulting from the PHA’s partnership with other entities, for the enhancement of the economic and social self-sufficiency of assisted families, including programs provided or offered as a result of the PHA’s partnerships with other entities, and activities subject to Section 3 of the Housing and Community Development Act of 1968 (24 CFR Part 135) and under requirements for the Family Self-Sufficiency Program and others. Include the program’s size (including required and actual size of the FSS program) and means of allocating assistance to households. (24 CFR §903.7(l)(i)) Describe how the PHA will comply with the requirements of section 12(c) and (d) of the 1937 Act that relate to treatment of income changes resulting from welfare program requirements. (24 CFR §903.7(l)(iii)).

Substantial Deviation. PHA must provide its criteria for determining a “substantial deviation” to its 5-Year Plan. (24 CFR §903.7(r)(2)(i)) Significant Amendment/Modification. PHA must provide its criteria for determining a “Significant Amendment or Modification” to its 5-Year and Annual Plan.

If any boxes are marked “yes”, describe the revision(s) to those element(s) in the space provided.

B.2 New Activities. This section refers to new capital activities which is not applicable for HCV-Only PHAs.

B.3 Progress Report. For all Annual Plans following submission of the first Annual Plan, a PHA must include a brief statement of the PHA’s progress in meeting the mission and goals described in the 5-Year PHA Plan. (24 CFR §903.11(c)(3), 24 CFR §903.7(r)(1)) B.4 Capital Improvements. This section refers to PHAs that receive funding from the Capital Fund Program (CFP) which is not applicable for HCV-Only PHAs
B.5 Most Recent Fiscal Year Audit. If the results of the most recent fiscal year audit for the PHA included any findings, mark “yes” and describe those findings in the space provided. (24 CFR §903.7(p))
C. Other Document and/or Certification Requirements.

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C.1 Resident Advisory Board (RAB) comments. If the RAB had comments on the annual plan, mark “yes,” submit the comments as an attachment to the Plan and describe the analysis of the comments and the PHA’s decision made on these recommendations. (24 CFR §903.13(c), 24 CFR §903.19) C.2 Certification by State of Local Officials. Form HUD-50077-SL, Certification by State or Local Officials of PHA Plans Consistency with the Consolidated Plan, must be submitted by the PHA as an electronic attachment to the PHA Plan. (24 CFR §903.15). Note: A PHA may request to change its fiscal year to better coordinate its planning with planning done under the Consolidated Plan process by State or local officials as applicable.

C.3 Civil Rights Certification/ Certification Listing Policies and Programs that the PHA has Revised since Submission of its Last Annual Plan. Provide a certification that the following plan elements have been revised, provided to the RAB for comment before implementation, approved by the PHA board, and made available for review and inspection by the public. This requirement is satisfied by completing and submitting form HUD-50077 ST-HCV-HP, PHA Certifications of Compliance with PHA Plan, Civil Rights, and Related Laws and Regulations Including PHA Plan Elements that Have Changed.

Form HUD-50077-ST-HCV-HP, PHA Certifications of Compliance with PHA Plan, Civil Rights, and Related Laws and Regulations Including PHA Plan Elements that Have Changed must be submitted by the PHA as an electronic attachment to the PHA Plan. This includes all certifications relating to Civil Rights and related regulations. A PHA will be considered in compliance with the certification requirement to affirmatively further fair housing if the PHA fulfills the requirements of §§ 903.7(o)(1) and 903.15(d) and: (i) examines its programs or proposed programs; (ii) identifies any fair housing issues and contributing factors within those programs, in accordance with 24 CFR 5.154; or 24 CFR 5.160(a)(3) as applicable (iii) specifies actions and strategies designed to address contributing factors, related fair housing issues, and goals in the applicable Assessment of Fair Housing consistent with 24 CFR 5.154 in a reasonable manner in view of the resources available; (iv) works with jurisdictions to implement any of the jurisdiction's initiatives to affirmatively further fair housing that require the PHA's involvement; (v) operates programs in a manner consistent with any applicable consolidated plan under 24 CFR part 91, and with any order or agreement, to comply with the authorities specified in paragraph (o)(1) of this section; (vi) complies with any contribution or consultation requirement with respect to any applicable AFH, in accordance with 24 CFR 5.150 through 5.180; (vii) maintains records reflecting these analyses, actions, and the results of these actions; and (viii) takes steps acceptable to HUD to remedy known fair housing or civil rights violations. impediments to fair housing choice within those programs; addresses those impediments in a reasonable fashion in view of the resources available; works with the local jurisdiction to implement any of the jurisdiction’s initiatives to affirmatively further fair housing; and assures that the annual plan is consistent with any applicable Consolidated Plan for its jurisdiction. (24 CFR §903.7(o)).

C.4 Challenged Elements. If any element of the Annual PHA Plan or 5-Year PHA Plan is challenged, a PHA must include such information as an attachment to the Annual PHA Plan or 5-Year PHA Plan with a description of any challenges to Plan elements, the source of the challenge, and the PHA’s response to the public.

D. Affirmatively Furthering Fair Housing (AFFH).

D.1 Affirmatively Furthering Fair Housing. The PHA will use the answer blocks in item D.1 to provide a statement of its strategies and actions to implement each fair housing goal outlined in its accepted Assessment of Fair Housing (AFH) consistent with 24 CFR § 5.154(d)(5) that states, in relevant part: “To implement goals and priorities in an AFH, strategies and actions shall be included in program participants' … PHA Plans (including any plans incorporated therein) …. Strategies and actions must affirmatively further fair housing ….” Use the chart provided to specify each fair housing goal from the PHA’s AFH for which the PHA is the responsible program participant – whether the AFH was prepared solely by the PHA, jointly with one or more other PHAs, or in collaboration with a state or local jurisdiction – and specify the fair housing strategies and actions to be implemented by the PHA during the period covered by this PHA Plan. If there are more than three fair housing goals, add answer blocks as necessary.

Until such time as the PHA is required to submit an AFH, the PHA will not have to complete section D., nevertheless, the PHA will address its obligation to affirmatively further fair housing in part by fulfilling the requirements at 24 CFR 903.7(o)(3) enacted prior to August 17, 2015, which means that it examines its own programs or proposed programs; identifies any impediments to fair housing choice within those programs; addresses those impediments in a reasonable fashion in view of the resources available; works with local jurisdictions to implement any of the jurisdiction’s initiatives to affirmatively further fair housing that require the PHA’s involvement; and maintain records reflecting these analyses and actions. Furthermore, under Section 5A(d)(15) of the U.S. Housing Act of 1937, as amended, a PHA must submit a civil rights certification with its Annual PHA Plan, which is described at 24 CFR 903.7(o)(1) except for qualified PHAs who submit the Form HUD-50077-CR as a standalone document.

This information collection is authorized by Section 511 of the Quality Housing and Work Responsibility Act, which added a new section 5A to the U.S. Housing Act of 1937, as amended, which introduced the Annual PHA Plan. The Annual PHA Plan provides a ready source for interested parties to locate basic PHA policies, rules, and requirements concerning the PHA’s operations, programs, and services, and informs HUD, families served by the PHA, and members of the public for serving the needs of low- income, very low- income, and extremely low- income families.

Public reporting burden for this information collection is estimated to average 6.02 hour per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. HUD may not collect this information, and respondents are not required to complete this form, unless it displays a currently valid OMB Control Number.

Privacy Act Notice. The United States Department of Housing and Urban Development is authorized to solicit the information requested in this form by virtue of Title 12, U.S. Code, Section 1701 et seq., and regulations promulgated thereunder at Title 12, Code of Federal Regulations. Responses to the collection of information are required to obtain a benefit or to retain a benefit. The information requested does not lend itself to confidentiality

ROSEVILLE HOUSING AUTHORITY ANNUAL PLAN

NOTICE OF DOCUMENT AVAILABILITY
& PUBLIC HEARING
The Roseville Housing Authority (RHA) is soliciting public review and comment on the proposed Public Housing Authority (PHA) Annual Plan for Fiscal Year 2024-2025. The RHA Annual Plan is a planning document describing the mission of the Roseville Housing Authority to serve the needs of low and extremely low-income rental assistance program participants in the cities of Roseville and Rocklin. RHA’s draft Annual Plan must be made available for public review and comments on the plan are requested and encouraged.

The proposed 2024-2025 RHA Annual Plan is available for public review beginning Friday, February 16, 2024, at www.roseville.ca.us/hcv.

Written comments should be mailed or emailed to:

Roseville Housing Authority
316 Vernon St. Suite 150
Roseville, CA 95678
Attn: Suzi Cook-Turner, Housing Supervisor
[email protected]
The Housing Authority Board will hold a Public Hearing to adopt the Roseville Housing Authority Annual Plan on March 20, 2024, at 6 p.m., or as soon thereafter as the matter may be heard, in the Council Chambers of the City of Roseville Civic Center, 311 Vernon Street, Roseville, CA.

To arrange an alternative agenda document format or to arrange aid or services to modify or accommodate persons with a disability to participate in a public meeting, please notify the City Clerk’s Office at least 48 hours in advance of the meeting by calling (916) 774-5263 or through the TDD line at (916) 774-5220 (for hearing impaired).

Roseville City CouncilApril 3, 2024

Roseville City Council
April 3, 2024