The URL can be used to link to this page

Resolution No. 2012-195RESOLUTION NO. 2012-195 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF VERNON ACCEPTING THE BID OF META HOUSING CORPORATION AND APPROVING AND AUTHORIZING THE EXECUTION OF AN AGREEMENT TO NEGOTIATE EXCLUSIVELY BY AND BETWEEN THE CITY OF VERNON AND META HOUSING CORPORATION FOR THE 52ND DRIVE HOUSING DEVELOPMENT PROJECT WHEREAS, the City of Vernon ("City"), as part of its good governance reforms, issued a request for proposals to prospective .developers for the construction of housing to be located on a City owned two acre lot located at 52nd Drive; and WHEREAS, a comprehensive review of six proposals was conducted in response to said request for proposals; and WHEREAS, by memorandum dated October 2, 2012, the Department of Community Services & Water recommends that the City accept the bid of Meta Housing Corporation ("Meta") and enter into an agreement to negotiate exclusively with Meta setting forth the terms and conditions under which Meta will perform the Work (the "Agreement"). NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF VERNON AS FOLLOWS: SECTION 1: The City Council of the City of Vernon hereby finds and determines that the recitals contained hereinabove are true and correct. SECTION 2: The City Council of the City of Vernon hereby approves the Agreement with Meta Housing Corporation, a copy of which is attached hereto as Exhibit A. SECTION 3: The City Council of the City of Vernon hereby authorizes the Mayor or Mayor Pro-Tem to execute said Agreement, for and on behalf of, the City of Vernon, and the Acting City Clerk, or Deputy City Clerk, is hereby authorized -to attest thereto. SECTION 4: The City Council of the City.of Vernon hereby instructs the City Administrator, or his designee, to take whatever actions are deemed necessary or desirable for the purpose of implementing and carrying out the purposes of this Resolution and the transactions herein approved or authorized, including but not limited to, any nonsubstantive changes to the Agreement attached herein. SECTION 5: The City Council of the City of Vernon hereby directs the Acting City Clerk, or the Acting City Clerk's designee, to send a fully executed Agreement to: Meta Housing Corporation Attn.: John M. Huskey, President 1640 S. Sepulveda Blvd., Suite 425 Los Angeles, CA 90025 SECTION 6: The City Council of the City of Vernon finds that this action is.exempt under the California Environmental Quality Act (CEQA), in accordance with Section 15061(b)(3), the general rule that CEQA only applies to projects that may have an effect on the environment. _2_ SECTION 7: The Acting City Clerk.of the City of Vernon shall certify to the passage, approval and adoption of this resolution, and the Acting City Clerk of the City of Vernon shall cause this resolution and the Acting City Clerk's certification to be entered in the File of Resolutions of the Council of this City. APPROVED AND ADOPTED this 16th day of October, 2012 Name: William J. Davis Title:/ Mayor Pro-Tem ATTEST: ' ti Ana Ba c'a, Deput City Clerk 3_ STATE OF CALIFORNIA ) ). s s COUNTY OF LOS ANGELES ) I, Ana Barcia, Deputy City Clerk of the City of Vernon, do hereby certify that the foregoing Resolution, being Resolution No. 2012-195, was duly passed, approved and adopted by the City Council of the'City of Vernon at a regular meeting of the City Council duly held on Tuesday, October 16, 2012, and thereafter was duly signed by the Mayor or Mayor Pro-Tem of the City of Vernon. Executed this day of October, 2012, at Vernon, California. QAna arcia, Deputy City Clerk (SEAL) -4_ EXHIBIT A AGREEMENT TO NEGOTIATE EXCLUSIVELY BETWEEN THE CITY OF VERNON AND META HOUSING CORPORATION FOR THE 52ND DRIVE HOUSING DEVELOPMENT PROJECT Developer: Responsible Principal of Developer: Notice Information - Developer: Notice Information - City: Commencement Date: Termination Date: COVER PAGE Meta Housing Corporation John M. Huskey, President Meta Housing Corporation 1640 S. Sepulveda Boulevard, Suite 425 Los Angeles, CA 90025 Attention: Chris Maffris, Vice President Phone: 310-575-3543 Facsimile: 310-575-3563 E Mail: cmaffrisO-metahou sing. com City of Vernon 4305 Santa Fe Avenue Vernon, CA 90058 Attention: Kevin Wilson, Director of Community Services & Water Telephone: (323) 583-8811 ext. 245 Facsimile: (323) 826-1535 April 13 , 2012 unless extended pursuant to Section 2 Records Retention Period Three (3) years AGREEMENT TO NEGOTIATE EXCLUSIVELY BETWEEN THE CITY OF VERNON AND META HOUSING CORPORATION FOR THE 52No DRIVE HOUSING DEVELOPMENT PROJECT THIS AGREEMENT to NEGOTIATE EXCLUSIVELY ("Agreement") is entered into as of October 16 2012, ("execution date"), between the City of Vernon ("City"), a California charter City and California municipal corporation ("City"), and Meta Housing Corporation, a California corporation ("Developer"). The City and Developer agree as follows: NEGOTIATIONS City and Developer agree, for the period stated below, to negotiate in good faith, pursuant to the terms of this Agreement, and to use best efforts to prepare a Disposition and Development Agreement to be entered into between City and Developer concerning the purchase and development of certain real property, more particularly depicted on Exhibit A attached to this Agreement (the "Property"). City agrees, for the period stated below, not to negotiate with any other person or entity regarding development of the Property without the consent of Developer. Nothing in this Agreement shall be deemed a covenant, promise or commitment by City or any agency of the City, with respect to the acquisition of property, nor the approval of development rights, nor the approval of any specific development, land use, permit or other right. City's acceptance of this Agreement is merely an agreement to enter into a period of exclusive negotiations according to the terms hereof, reserving final discretion and approval by City as to any actions required'of it, including, but without limitation, review required under the California Environmental Quality Act and any predicate General Plan or zoning code revisions or amendments. This Agreement may not be assigned by Developer, and any attempted assignment, in whole or part, shall render this Agreement void. 2. NEGOTIATION PERIOD City and Developer agree to negotiate for one hundred eighty (180) days after the execution date in order to enter into a Disposition and Development Agreement. If, upon the expiration of such'period of time, City and Developer have not each approved and executed a Disposition and Development Agreement, then this Agreement shall automatically terminate and Developer shall have no further rights regarding the subject matter of this Agreement, nor regarding the Property, nor for recovery or reimbursement of any costs expended under this Agreement. City shall then be free to negotiate with any other person or entities with regard to the Property; provided, however, that City and Developer may agree, in writing, to further extend the exclusive negotiation period for up to two additional periods of ninety (90)'days, each, at the sole option and discretion of the City. 3. OBLIGATIONS OF DEVELOPER A. Evidence of Financing Developer shall, during the negotiation of the Disposition and Development Agreement, develop a program of financing to provide City with reasonably satisfactory evidence that financing will be available for acquisition and development of the Property. -2- B. Development Plan During the exclusive negotiating period, Developer shall formulate a development plan for the Property ('Plan"), and shall submit the same to City for consideration' and approval. The Plan shall be consistent with Developer's response to the City's Request for Proposals for the 52"d Drive Housing Development, and shall include all information requested by the City and in any specific format requested by the City. Developer shall also prepare and submit all drawings ("Drawings") necessary for a Design Review by City. Developer shall also furnish such information to City regarding the proposed project as may be required to perform an environmental review pursuant to the California Environmental Quality Act (CEQA),. All work by the Developer under this Agreement shall be at its sole cost and expense unless otherwise allocated under any final Disposition and Development Agreement. 4. OBLIGATIONS OF CITY A. City Assistance and Cooperation City shall cooperate fully in providing Developer with appropriate information and assistance. B. City Approval If the negotiations culminate in a Disposition and Development Agreement signed by Developer, such Agreement shall become effective only after and if the Agreement has been considered and approved by City, and subject to Developer applying for and receiving all land use, zoning, and other related approvals, and subject to Developer agreeing to and meeting any and all conditions imposed in the course of those approval processes. Developer understands and agrees that it will not be entitled to recover any of its costs or expenses under this Agreement, should the City fail or refuse to approve a Disposition and Development Agreement for any reason. 5. CONFIDENTIALITY To the extent permitted by applicable law, the Developer and City shall maintain all information concerning this Agreement and any pending or subsequent negotiations between City and Developer as confidential, disclosing information only to those individuals and representatives as designated by the other party; provided that such individuals acknowledge and agree to maintain the confidentially of such information. This provision shall not require the City to file a lawsuit to maintain the confidentiality of this Agreement, subsequent negotiations or of other related information, and only requires the City to provide Developer with notice of any request for such information so that Developer can determine whether or not to seek court relief to maintain confidentiality. THE PARTIES have executed this Agreement as of the date first written above. [Signatures Begin on Next Page]. -3- IN WITNESS WHEREOF, the Parties have signed this Agreement as. of the date stated in the introductory clause. City of Vernon, a California charter City and California municipal corporation ey: William Davis, Mayor, Pro-Tem ATTEST: Ana Barcia, Deputy City Clerk APPROVED AS TO FORM: l,0jtolt- NiMblas Rodriguez, City Attorney Meta Housing Corporation, a California corporation e� / By: Lfi1.s� Title: If FL-eSI bGut: By: Name: EC- o CL�ss O Title: e-FON(O-C PK-E5(bewc -4- EXHIBIT A PROPERTY EXHIBIT "A" GRANT DEED PARCEL 1 THE WHOLE OF LOTS 45 THROUGH 53 OF TRACT NO. 7923, IN THE CITY OF VERNON, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 113 PAGES 80 TO 83. EXCEPT THAT THE PROPERTY SHALL BE SUBJECT TO ANY OVERLYING EASEMENTS CONTAINING 89,5I3.17 SQUARE FEET (2.06 ACRES), MORE OR LESS ALSO AS SHOWN ON EXHIBIT "B" ATTACHED HERETO AND HEREBY MADE A PART HEREOF. PAGE 1 OF 1 m F— m W 3.00,Ix.eeN I <W AY'661 � lW .91'661 � I 1 V 3.SY.02.EEN I I 1 g � (W .00'66I 1 R7 a I Z c� I s ��, R I a �� 1 LO d I I A ! IZP� I � 6 1 10 1 \ n 1 \ 3.xe,oa.eEN \ 1 ` 3.OE,02.EEN�— —�—q�- (8> d)9'90a (W •Ofl'902 �� a,�t Q/�IH 3I1Ntl�1V� • �i CC � oWbv REDE14D (RECEIVED OCT 0 3 2012 OCT 10 2012 - 2ADMINISTRATION 40 CITY CLERK'S OFFICE ---- STAFF REPORT COMMUNITY SERVICES & WATER DEPART DATE: October 2, 2012 TO: Honorable Mayor and City Council FROM: Samuel Kevin Wilson, Director of Community Services & Water - RE: Exclusive Negotiation Agreement with Meta Housing Corporation - The City of Vernon as part of its good governance reforms has proposed the construction of additional_ housing within the City. As such, City staff issued and advertised a Request for Proposals (RFP) to prospective developers for the construction of housing to be located .on a City owned 2 acre lot along 52°a Drive. At the conclusion of the construction the new residential units will be owned and operated by the selected developer and will include low and moderate income housing to meet the City's Regional Housing Needs Assessment (RHNA) goal established by the Southern California Association of Governments (SLAG). Proposals were received from the following six firms: National Community Renaissance of California, Roem Development Corporation, Meta Housing Corporation, Orange. Housing Development Corporation and C&C Development, Rael Development and LINC Housing Corporation. The concepts submitted contained a mix of designs ranging from 31 to 61 residential units. A selection committee of the City has chosen Meta Housing Corporation as -the most responsive candidate. A copy of their proposal is attached herewith. City staff is recommending that the City enter into an Exclusive Negotiation Agreement (ENA) with Meta Housing Corporation for the development of the new housing project.`' The goal of the ENA is to develop a disposition and development agreement (DDA) detailing the parameters for the development of the site. The agreement provides for an exclusive negotiation period with Meta for a period of 120 days. The parameters of the DDA may include: 1) The scope of the development, setting forth number of housing units, number of required parking stalls and other site parameters including, building height, acceptable architectural and landscape quality, access, circulation, on and offsite improvements, site perimeter treatments, signage and lighting. 2) The manner in which the edges of the development are designed to maximize compatibility with abutting and adjacent uses. 3) Sources and uses of budget, which shall be based on a financial pro forma that will be approved by the City to show that the developer has financial capability to construct the project. 4) Timing and conditions precedent for the conveyance or leasing of the property. 5) Financial assistance to be provided by the City including, conveying the subject site in fee title or a cash payment for eligible project costs. 6 A schedule of performance encompassing appropriate and necessary legal, administrative financial and ,- construction benchmarks to be met by both parties. 7) Insurance, bonding and other requirements - During the Negotiation process Meta will be required to submit to City staff for review and concurrence conceptual plans for the development; a detailed financial analysis for the project including'a detailed development cost budget, proposed rents and detailed operating income and expense estimate. Meta will also perform its due diligence of the subject site to determine if the site is acceptable to the Developer during this negotiation period. The City will not be responsible for any of the developer's costs during this negotiation period. City Council has authorized the issuance of a Request for Proposals to retain legal counsel to assist in the drafting of the Disposition and Development agreement. The City hopes to enter into contract -- with the legal firm in early November. In addition; the Disposition and Development Agreement cannot be approved until such time the City has updated its General Plan and Zoning Ordinance and completed an environmental review of the project in compliance with the California Environmental Quality Act (CEQA). The City Attorney's office has prepared an Exclusive Negotiation Agreement which has been executed by Meta Housing Corporation. It is recommended that the Exclusive Negotiation Agreement be approved by -- -- the Vernon City Council. SKW Lnclosure July 12, 2012 C2 Meta Dousing Goeporation _. Samuel Kevin Wilson - Cfy ofVernon 4305 Santa Fe Avenue _ . Vernon, CA 90058 _ RE: Proposal for,52nd Drive Housing Development Dear Mr. Wilson: Meta Housing Corporation ("Meta") is pleased, to present the enclosed proposal for cevelespl�er df, 1tlrly�sllt3i) ur{ts -- of affordable, family housing on 4675 52nd Drive, pursuant to the Request for Proposals from tite"City Of, non. By way of introduction, Meta is proud to be.one of Southern California's most experierired earid trusted dev ippers:af _ affordable and mixed -income apartment communities. ;Since 1996, our team has bullk rt of -hp Industry's mi ff successful track records, developing more `than 4400 residential Units, Our teit4rn Ilse. busltles women,=stran sense of social advocacy, and interest in innovation enable us to sustain strong relationships with puE lIc rant priva e ortners and to develop award -winning projects. Such innovative projects include a much ne''0(J4d,grocery star@ In SUfh Los Angeles, adaptive reuse of a nine -story bank building in. Chinatown for senior housing, nur Otbus arts Colonies. and. several transit oriented developments. - A successful protect is winning by its nature; it is financially viable, architecturally pleasing, affirrnativ€�ly rmarketed wlth fairly selected tenants, service enriched; well built and maintained,. and compliant with ;�jll furider rec;julrements . _ including those of the City of Vernon. Below are the main components of our concept for 62rid Drive Apartments. - • Only donated land, $500,000 in a Vernon cash contribution, and deferred developer fee are neoded to:levonooe competitive 9% tax credits and start construction by late 2013. Award -winning John Cotton Architects has designed a low-rise, scattered building pro)bbt whoso 0/411M fits well. - with the surro-unding neighborhood, but that also pays tribute to Vernon's business:n0ture, • Solari Enterprises,.. Inc will market, lease;, and monage 52nd Drive Apartments In accordand wi h the 1`6CILIiremen s _ of the Vernon Housing Commission, fair housing law, and the California Tax Credit 'Al1oc`ot-1 an Cornmlttee; Thoy, Or(), well-equipped for this task, since they currently manage sixty (60) Section 42_LaW Inc orn(4 lJousin Tax Crodit properties. • Western Community Housing will provide on -site services tailored to: meet 'the speelfie and timely needs,of.ten�rnls and their families. Having already developed award -winning affordable communities in the nearby nelgitAlp ar'hoods'of Central Aiarwdca; Commerce, South Central, and Vermont Square, we look, forward to our next being in Vermin, We are cbhfId6nt in our. ability to make this ioiroject a success, Please feel free to contact Vice President' Qhris. Moffris at (3;10) 5%5- 543 x10 any time to discuss the contents of the enclosed proposal; Sin ,. ply, ohn Huskey President Meta Housing Corporation 1640 S. Sepulveda Blvd, Suite 425 Los Angeles, CA 9002 P 3'10-575-3543 E 310-576 3563 E jhuskey@metahousing.&6(Y Developer Information Rendering: Courtyard 2...................... ......31 About....::: ........ .....:::. ......,:: ...:::.:. ........ 1 ... Site Plan .. 32 Corporate Structure & Officers ......... l ... .......... .... Building .... Resumes of Key Personnel Plan ......::. 33 ........ ......... l Unit Plan 34 ............................................................... Development Entity Structure .........::.: :3 ......... ...... 52nd Drive Elevation :.:..... Relevant Experience 35 Landscape Plan ................................................. Featured Projects -36 Tenant Services .. Vermont Avenue Apartments ......... ......... ......... .................. 37 ......... ........4 FinancialExhibits - Coventry Court ........: ......... ......... .........5 Pro Forma Inputs and Assumptions..:. ..................39 Adams & Central Mixed Use ........ ............. ..6 Income Analysis. - Magnolia at Highland 39 ......... ..:....:. 8 Operating Expenses...... Long Beach & Burnett. ::...:... .::.....: .......:: 9 ' Development Budget..: ..::..:.. 41 Featured Project Timelines 'Schedule .........................:.10 Tax Credit :::,.. 42 Developer Project List ..... _. ...:..... .......:. l 1 Debt Service..::..:: 43 Property Management ... ........ ......... .................13 Sources and Uses Marketing & Leasing Experience ......... ......... .................13 20-Year Projected Cash Flow.. ......................44 Financial Capacity ......... ......... .....:... ......:........:16 Project Schedule Development Program ......... 46 Project Management Executive Summary ........ ......... ......... ..........17 Developer Involvement. 47 Opportunities & Constraints ......... ....... ........: ..17 Development Team 47 Development Concept ... ....... .......:. 18 ... .. Contingencies..:.. ......... .......... .50 Sustainability Elements.:;.. .......: ................19 Appendix Project Design Exhibits City of Vernon Section III Proposal Form...............A. l Concept A City of Vernon Proposer's Affidavit....:: .,.,..A; 3 Rendering: Bird's Eye ......... ....::... .............21 Tax Credit.lnvestor Letter of Interest..... ....:..:::.....A. 4 Rendering: Courtyard 1 ....... ...:.:.. ...............22 Construction & Perm Loan Commitment Letter.:A. 5 Rendering: Courtyard 2 ....... ......... ......23 CTCAC Correspondence SitePlan ......... . ........ ........................................................ ...:...........24 3rdParty Appraisal of Land Value..:..... ......::......A. 7 Building Plan ... ........ ......... ...:..... 25 .............. Non-profit MGP Resume. ......... ........ 8 Unit Plan ..............A. .:::.... ....:::.: ......... .......:. ..........26 Property Manager Resume...::... .....A: 9 52nd Drive Elevation .: ......... .....:... ..........27 Construction Manager Resume..........................A: TO _... Landscape Plan .....28 Architect Resume. ......... A. 11 Concept B .. Sustainable. Engineer Resume .... ......... ........ A. 12 Rendering: Bird's Eye......................... 29 Potential GC Resumes..... ......... A: 13 ...... Rendering: Courtyard 1 ..................................... DEVELOPER - Meta Housing Corporation Chris Maffris; Vice President - 1640 S. Sepulveda Blvd., Suite 425 Los Angeles; CA 90025 t§ P 310-575-3543 t F 310-575-3563 cmaffris@metahousina.com Superior Leveraging Ability Meta Housing Corporation ("Meta") has a superior track record of access- - -' ing and leveraging housing funds and managing financially com- plea developments. Since 1996, Adams & Central Mixed Use Development, completed 2010 Meta has leveraged $340 million - of private 'tax credit investments About Meta is one of Southern local and state housing agencies, to build 4,425 units of housing. Me- California's most experienced and community -based non -profits to projects have secured 9% tax and trusted developers of seniors that are often in the best: position credits each year since 2003. Of and multifamily affordable com- to determine which solutions will _ our completed projects, almost munities. The Meta team has work best for a community. Com- - half were funded with competi- been active in the financing, con- munity outreach is done, and Live 9% tax credits. In 2010 alone, struction, and management of when needed, Metahas been Meta won $8 million of Los Ange- affordable housing . since 1969, responsive with design changes, les Affordable Housing Trust Funds and has developed more than greater setbacks, park - 'for 4 separate projects. In 2009, 12,000 units over the years. Meta ing, etc. Meta won $10 million of Neighbor- combines solid financial resources hood Stabilization funds. Of $95 and thoughtful design that ena- Corporate Structure 8 Officers million in TOD Housing Funds avail- ble the third element of life- The following individuals from Me - able, $30 million was awarded to enhancing activities and social to Housing Corporation have the Meta. Meta projects also re- services, to thrive in' affordable authority to make legally binding ceived $22 million in IIG Funds. and market -rate multi -family and commitments for the develop - Since its inception, Meta has de- senior communities alike. Truly ment entity: veloped fifty-three properties, of Meta's projects are unique in the which forty-seven remain in its level to which they actively en- John M. Huskey, President, 100% portfolio. - gage their tenants in activities ownership - -' senior . 20 3 70� ! Family' 2 I , s9s L $ 29s r = 4; ! Income Toos ' S 4s9 ; ` $ t to` la _ —�1._ r jArts 4 477 ?' $ cos I ;Colonies L` 1 - .,, Special 3 175 $' 91 ' Needs i - Meta Housing Corporation such as tutoring, wellness, and art. This innovative approach has consistently won national recogni- tion including the National Assock afion of Home Builders' 50+ Hous- ing Gold Achievement award, PCBC Gold Nugget Award and the SAGE Award. The National Endowment. for the Arts has xec- o nized Meta`s Burbank Senior g Artists. Colony as one of the finest examples of the Incorporation of services, education and activities with architecture. ¢ Meta works closely with city and community leaders, a variety of PRQPOSAL FOR CITY OF VERNON George Russo, Chief Financial Of - ficer Kasey Burke, Senior Vice President Christopher Maffris, Vice President Aaron Mandel, Vice President Resumes of Key Personnel John M. Huskey, President, has . successfully pioneered coopera- Live development among non- profit and` for -profit enterprises since 1988. Mr. Huskey has been active in financing; development, construction and management of affordable apartment communi- ties since 1969. Mr. Huskey current 52ND DRIVE HOUSING DEUELO;PMENT, ; ,'■ itage Park program of affordable Mr. Burke graduated from the Uni- 44 apartment communities for ac- versity of Southern California with Live, seniors. More than 6,000 units an emphasis in Real Estate Fi- �'t were built throughout the western nance. He is a licensed Real Es- 1 y; t l {d i $; r r t U.S. faking Calmark Properties fate Broker with the State of Cali- i a1 from start-up enterprise to market fornia. l' n ti ., leader in less than five years. Chris Maffris, Vice President, John Huskey attended the Univer- joined Meta in 2003. He concen- _' I # = sity of Notre Dame and Sophia trates on urban center infill and University in Tokyo. revitalization projects. Mr. Maffris Chinatown Senior Lofts; under construction currently specializes in site acquisi- - - George Russo, Senior Vice Presi- Lion, entitlement, construction - Developer Key Personnel (cont.) dent and Chief Financial Officer, management, and financing ly serves on the City of Los Angeles started at Meta in 2003. His re- through local and state housing Mixed Income Housing Policy sponsibilities include all aspects of sources. While at Meta; Mr. Maffris committee under Mayor Antonio financial, tax and asset manage- has supervised the financing. and Villaraigosa. In 1996, Mr. Huskey ment reporting for Meta and its development of 1,100 apartment was honored by the Building In- family of affiliated partnerships, units and 20,000 sf of commercial dustry Association Senior Housing limited liability companies and space. Council as its SAGE award winner corporations. Mr. Russo also over - for outstanding contributions to sees relationships with lenders and Prior to 'joining Meta, Mr. Maffris senior housing. A frequent speak- other financial partners and stake- worked with Leonard & Ohren as er, writer, and guest lecturer on holders. a Commercial Real Estate Broker. development and transportation Mr. Maffris "received a degree in issues at UCLA, USC, Pepperdine Mr. Russo has 24 years of experi Economics from UCLA, where he University as well as. industry ence in real estate finance, ac played on the varsity soccer groups, Mr..Huskey has served as a counting, and taxation. Prior to team: He also holds a California technical advisor to the Los An- joining Meta, Mr. Russo was con- Real Estate Salesperson license: geles County Housing Authority as troller ;at three separate organiza _... tions, Storage World, L.P., Kaufman well as San Bernardino County: He Michelle Espinosa Coulter, Project also served two terms on the Loan & Broad Multi -Housing Group, and Manager, manages all facets of Public Storage Inc. Mr. ' Russo and: Grant Committee - -for the affordable housing projects. Since d Science de- of California Department of earned a Bachelor of Sc2006, she has managed the de - Housing and Community Develop- gree in Business Administration g Y p- velopment of more than 200 af- and Accounting from California meet. He was an appointee of fordable housing. units, including l Los An State University, gees and Mayor James Hahn. to the $100 general. population,. .;supportive holds an NASD Series 28 Registra- g p Million Housing Trust Fund Advisory . housing, and workforce ownership Committee. Lion. units. Her areas of expertise in- Kasey, M. Burke, Senior Vice Presi elude financing, design develop - dent. and Mr. Huskey cu was Officer dent, manages all facets of ment, and sustainable features: dent, -and Chief Executive Officer. l b Housing eve - of Calmark Properties Inc. a na- Meta's Affordable Ms. Coulter is a former CPA. Prior tionally recognized builder/ opment Division. Since joining the to becoming a housing develop - firm in 2001, he has managed Sig- g developer/operator of. residential er, she managed audits and ex- nificant projects in the areas. of and commercial properties and a aminations of financial and real leading producer of affordable site acquisition, entitlement pro- estate institutions during a_7-year cessing, financing, design level - non -federally subsidized rental career in public accounting and - opment, construction, and lease - housing for seniors. Under his di- with the Federal Reserve Bank. rection, Mr. Huskey helped create up. Mr. Burke specializes in secur- the independent senior housing ing funds from federal, state and Ms. Coulter holds a dual M.A. in category with the acclaimed Her- municipal sources and oversees Urban Planning from the University all of Meta Housing's tax credit of Califomia, Los Angeles; and and bond application processes: • M.S.: in Accounting: from Texas A&M University. Meta Housing Corppra��on; PROPOSAL FOR CITY OF UERNON 52ND�DRIVE HOUSING;DEUELOPMENT DEVELOPMENT ENTITY STRUCTURE ject or other property except as provided in the Loan Documents or required by any Govern- mental Authority. • Withdrawing, admitting or substituting a Gen- eral Partner or any other Partner • Making a loan of Partnership funds to any per- son including the AGP or MGP or any Affiliate. • Borrowing funds in the name of the Partnership (except for agreed upon Construction and Perm Loans), refinancing the Loans, or incurring any indebtedness for borrowed money except for trade payables in the normal course of business. • Dissolving the Partnership. M f'- IPAnr Western Community Housing Limited Partnership to be formed Graham Espley-Jones 151 Kalmus Drive, Suite J-5 A single -purpose limited partnership ("Partnership") Costa Mesa, CA 92626 will be formed to be the ultimate ownership entity of P (714) 549-4100 the project at 4675 52nd Drive. John Huskey will con- ciraham@wchousinci.com trol the Partnership through a single purpose limited liability corporation, that will act as Administrative Western Community Housing, California non-profit, is General Partner ("AGP"). The non-profit, public ben- managing general partner of Partnerships. that own, efit corporation Western Community Housing operate and manage. over twenty-five (25) of :("WCH") will act as Managing General Partner -Meta's multifamily affordable housing projects. (See „ ,. - (MGP" ). ,WCH' s role is critical to tenant ,services, resume at Appendix 8.) - property tax welfare exemptions, and regulatory WCH References compliance. City National Bank The General Partners will have full, exclusive and Hengi Omid, Vice President9 Executive Circle complete Charge Of the 'management and control Irvine, CA 92614 of the Partnership. They have all rights, powers and P 949-862a003 authority consistent with the successful develop- hengi.omid@cnb.com ment and operation of 4675 52nd Drive. However, Novogradac &Company LLP the General Partners are specifically prohibited from Stephen Tracy, Partner acts that would jeopardize the financial viability of 246 First Street, 5!h Floor the project, the investor's ability to utilize tax credits, San Francisco, Ca 94105 or Meta's ability to Win tax credits for future projects. Peo-356-8010 cv@novoco.com These prohibited activities are part of the I.R.S. tax code and ensure that private investors and devel- DAY-TO-DAY PROJ ECT MANAGEMENT opers bear the financial burden if properties are not successful. This pay -for -performance accountability Meta will provide any and all internal and external ensures private sector discipline and reduces fore- personnel needed to develop and operate. the closure risk far under comparable market -rate prop- Vernon development. Vice President Chris Maffris erties..Such prohibited activities include, the. follow- will have day-to-day responsibilities for the develop- ing. merit of the project, with the assistance` of Michelle Espinosa Coulter as Project Manager, and Meta's - - • Selling, conveying, leasing or otherwise encum- entire accounting staff. John Huskey, George Russo bering (other than Residential Leases complying and Kasey Burke will regularly oversee the develop - with the provisions of the development occu' ment's progress. Once placed -in-service, Meta's pancy restrictions) all or any portion of the pro- Asset Management team will oversee .project,oper- ations and maintenance. PROPOSAL FOR CITY,OF VERN,bN 52ND DRIVE HOUSING; DEVELOPMENT VERMONT AVENUE APARTMENTS Family Affordable-9% Tax Credits Location 4925 S. Vermont Ave, Los Angeles; CA 90037 Ownership Vermont 4925, LP - AGP, Vermont 4925, LLC John M. Huskey, Sole Member &Manager - MGP, Western Community Housing, Inc. . Team Developer Meta Housing Corporation Architect John Cotton Architects Property Manaer Solari Enterprises, Inca Service Provider EngAGE, Inc. General Contractor Cobalt Construction Co. " �-Size ��s 35,710 SF site 4 stories £' 40,600 Residential SF �5,137 Community & Common SF 15,972 Parking SF 49 Parking Spaces Unit Count 8 one bedroom 22 two -bedrooms 18 three -bedrooms 1 manager's unit Description:. The site is adjacent to the Challengers Boys and Girls Club and across the street from Para Los Ninos The Project's extensive community facilities and innovative design will help to further bolster the revitalization of the area. The project includes an art/sculpture studio, computer center, exercise room, classrooms, meeting room, laun- ! - dry facilities, a property management office, an on -site manager's unit, a mail room, an outdoor exterior courtyard, an interior courtyard, and comprehensive on -site support services. The project also incorporates fully landscaped com mon open spaces, including an outdoor courtyard and patio area with landscaping and seating as well as a commu- nity garden. Vermont was built by-right,and no special entitlements were required. Elected Officials: Meta worked in close coordination. with City of LA Council District 9's Councilmember Jan Perry and Congressional District 33's Diane Watson on the entitlements and programming of this project. Community Benefits: LEED Gold equivalency, Development of Underutilized Lot, Economic Revitalization, Elimina- tion of Blight, Enhance Livability, Improve Image of Area, Improves Economic Vitality of Area; Increase Supply of Hous- ing Stock, Revitalize Key Commercial Corridor, Multi -Generational Social Service Programs: COVENTRY COURT rz Senior Mixed Income; 4% Tax Credits Location rxr r.- 17100 Cambridge Way, Tustin, CA 90220 Ownership Tustin Coventry Seniors, LP -- AGP, Tustin Coventry Seniors,, LLC John M. Huskey, Sole Member & Manager MGP, Western Community Housing, Inc. Team - Developer Meta Housing Corporation Architect William Hezmalhalch Architects Property Manger Greystar California, Inc.. General Contractor Cobalt Construction Company Size 9.0 acre site 3`stories 358,980 Residential SF 4,168 Community & Common Space SF 409 Parking Spaces Unit Count 80 one bedrooms 158 -two-bedrooms 2 manager's unit Description: Coventry Court consists of 240 newly constructed rental apartments for mixed income seniors on an ap- proximate nine (9) acre lot in Tustin. 60% of the units are market rate and 40% are restricted to individuals earning no more than 40-60% AMI. Coventry Court is designed to complement the neighborhood while providing a high -quality and safe environment for seniors. One -bedroom units are approximately 650 sq. ft. and two -bedroom units ranged from 887 sq. ft. and 1,750 sq. ft. with a weighted average of 1,163 sq. ft. Units are concentrated at 24 units per building in 10 buildings,: Buildings are U-shaped to maximize site efficiency. Community amenities include community rooms, business and fitness areas, pool, spa, outdoor areas, and on -site management offices. Unit amenities include sizable floor plans, wood grain vinyl flooring, carpeting, balconies, washer and dryer, microwave, granite kitchens, frost free refrigerators, and ample stor- age. Coventry Court revitalizes a underused site, previously occupied by twenty-four (24) unoccupied housing units. The project is adjacent to single family residential and part of a`master; planned community on the former, Tustin Marine Corps Air Station. Coventry Court itself was built by -right; and no special entitlements were required. Orange County Transit Au- r fhority has a transit stop directly in front of the project. Site amenities within 1.25 miles include a Whole Foods Market, Cost- co, Target, Lowe's, and,Wells Fargo Bank. Our development of Tustin enabled the City to meets its State mandated affordable housing requirements, as well as fulfill its increasing demand for senior housing. Banking Reference Government Contact Citibank Christine A. Shin'gJeton Land 2 500 Q00 ;Perm Loan $,42,'620 000 Richard Gerwitz City of Tustin Managing Director Assistant City Manager I Freddi Mac Interest A 444 S. Flower Street,.27th Floor 300 Centennial Way . cguisifMon Costs T 135,000 ,Reserve 738 274 Architecture/ a Freddi Deposit Re-..;. I Los Angeles, CA 90071 Tustin, CA 92780 Engmeerin 1 263,105 i fund 426 200 P: 213 486 8390 P; 714 573 3107 Impact Fees 1 918,500 Bond Interest _50 000 i Richard.aerwitz@citi.com F:714-573-3107 j i + +•..+:� _Const Lpgn Interest je 92043,998_, Equity _ _. ,_ _?� 1,972034 fresh 0 easy Description: The Adams & Central Mixed -Use Develop- ment is a cornerstone in the redevelopment of the Down town/South Los Angeles area. Adams Boulevard and Central Avenue are both major traffic arteries in an area . of the City. blighted by building deterioration, the pres- ence of incompatible land uses, and underutilized lots.. Meta has worked hard with the CRA and Council Office to develop a project plan that will help alleviate the prob- lems plaguing the area. The Project has resulted in the redevelopment of an abandoned lot into much need; new affordable housing and commercial space including a Fresh & Easy grocery store. The project is a strong ex- ample of good urban planning incorporating mixed -use, transit -oriented, and energy efficient design principles. ADAMS & CENTRAL MIXED USE Mixed -Use Residential & Retail Family Affordable 4% Tax Credits & New Market Tax Credits Location 1011 E. Adams Blvd., Los Angeles CA Ownership Adams 935, LP AGP, Adams 935, LLC John M. Huskey, Sole Member & Manager - MGP, Western Community Housing, Inc. Team Developer Meta Housing Corporation Architect John Cotton Architects General Contractor Cobalt Construction Co. Tax Consultant Novogradac & Company LLP Entitlements Lee Consulting Group Construction Manaaer KKG Inc. Size 4 stories 162,031 Gross SF 19,074 Commercial SF 83,068 Residential SF - 59,871 Parking SF Unit Count 14 one bedrooms 35 two -bedrooms 30 three -bedrooms 1 manager's unit Placed in Service Dec-2010, 18 months construction Awards j 2011 Los Angeles Business Council Mixed -Use Housing 2010 NAHB Best Affordable Apartment Finalist 2010 Westside Urban Forum Design Award 2010 PCBC Gold Nugget Best Mixed -Use Project 2010 PCBC Gold Nugget Affordable Merit Award 2010 Westside Urban Forum Westside Prize 2009 Gold Nugget Winning Category- Outstanding On - The -Boards Apartment Project- Merit Award ADAMS & CENTRAL MIXED USE (coat.) Community Benefits • Transit Oriented Development • Development of Underutilized Lot' • Economic Revitalization • Elimination of Blight • Enhance Livability • Improve Image & Quality of Life of Area through High level Urban Design • Improve Economic Vitality of Area • Increase Supply of Housing Stock • Increase Commercial/Retail Shopping Oppor- tunities • Creation of Jobs - Local Job Opportunities • Energy Efficient Design • Revitalize Key Commercial Corridor • Prevailing Wage • Promotion of Private In vestment in Community Entitlement Process laration Public Reference Community Reference Los Angeles Housing Jenny Scanlin Airspace Subdivision (Parcel Map): Legally; Department Regional Administrator separated the residential and commercial Tim Elliott CRA/LA spaces. 1200 West 7th Street, 8th Floor 354 S. Spring Street Los Angeles CA 90017 suite 300 . P: 213-$08-8596 Los Angeles, CA 90013 Local Support: Meta worked hard to build F:213-808-8914 P:213-977-1710 strong local support for the project through our, TElliott@land.lacity.ora isconlin@cra.lacity.orq Outreach process. To maintain this support, we continued to keep the community informed of the development's progress. We established LONG BEACH A BURNETT Family Affordable-9% Tax Credits 80%Affordable / 20% Market z j ! Location 2355 Long Beach Blvd, Long. Beach, CA 90806 ., Ownership e 1 Long Beach & Burnett, LP - AGP, Long Beach & Burnett, LLC John M. Huskey, Sole Member & Manager - MGP, Western Community Housing, Inc. Team Developer Meta Housing Corporation Community Reference Architect PLS Architects, Inc. Patrick Ure General Contractor Cobalt Construction Company Long Beach Housing Dev't Corp Property Manaer Solari Enterprises, Inc. Manger Housing Services ServiceProvider Western Community Housing 110, Pine Avenue, Suite 1200 Long Beach, CA 90802 Size P: 562-570 6926 34,875 SF site Patrick.Ure@lonabeach.aov 4 tories 39,699 Residential SF Banking Reference 13,121 Community Room & Common Space SF Mary Kaiser 104 Parking Spaces at 30,107 SF California Community Unit Count Reinvestment Corporation 26 two -bedrooms 225 W. Broadway, Suite 120 19 three -bedrooms Glendale, CA 91204 1 manager's unit P: 818 550-9801 Mary.kaiser@e ccrc.orc� 2011 Awards AG Compass Blueprint Awards -Nominee 2011 PCBC Gold Nugget Affordable Project Merit Award 2011 Apartment Assoc. Affordable Housing of the Year Description: Meta worked with Redevelopment Agency, Council Office, and community members to develop this project. The community is comprised of one building at a density of 57 dwelling units per acre. The development is type V construction above one fully subterranean garage of type I construction. Tenants enjoy, approximately 7,000 square', feet of open space that includes a landscaped entry courtyard, landscaped main courtyard, and large community'; room. Common facilities include a tenant community room and classroom, management ,office, mailroom, recycling room, laundry facility, and restrooms. Social Services including computer classes are offered at no cost to tenants. Long Beach & Burnett redeveloped an underutilized site, working closely with the City to ensure the Project was consisteit 1, p q with redevelo ment objectives. One unique design in- tent is fo use the community room and entry as a media- tor between the private building and public commercial Land $ 3 618,000 i Perm Loan ` i $ 2;734 800 street. The building design engages the community and Acquisition Costs 21,500 I Long Beach 9 258 533, f . pedestrians along. Lon Beach Blvd. with the large lazed — p g g g. g __._ � _. community room at the corner of Long Beach and Bur- Architecture/" °' Add'I Long Beach nett and with a landscaped entry court that is open and Engineenng 720,073 f"Funds Sewer 75,0001 stepped up to the main courtyard providing a Visual link. I T Add'I Long Beach The sidewalk is further activated by the front entries of the - = Funds/Fee yMaivers !� townhouse units which are located along all three street Impact Fees l . 460,0001 Permits 206,088 frontages. The townhouse units have a "stoop" with a Const. Loan Interest 512,394 County_ few, steps up from the sidewalk through a landscaped OtherSoftcosts, I P yard. TT1,3o1,536' Offsites ! 75,000 Tax Credit Equity 6,764 809' - Long Beach & Burnett required a Site Plan Review. - I Hard Costs 11,373,221 I Deferred Dev. Fee _ _ . because we requested a 35% density bonus. Dev, Fee 1,400,000 C Gap Amount 44214941 A2C 7 0 AQ7 70A ! Tr.iia Cnn.�ec I C 10 AQ7 70A I Senior Developments DEVELOPMENT LOCATION UNITS COMPLETED COST ($M) PRODUCT STATUS 1 Andalucia Senior Apartments Los Angeles 94 2010 $32.0 Affordable C 2 Asturias Senior Apartments Los Angeles 81 2009 $29.0 Affordable C 3 Burbank Senior Artist Colony Burbank 141 2005 $24.0 Market Rate* C 4 Cantabria Senior Apartments Los Angeles 69 2009 $24.0 Affordable C 5 Cortina d' Arroyo Grande Arroyo Grande 108 2006 $25.0 Affordable C 6 Dorado Senior Apartments Buena Park 156 2007 $32.0 Affordable C 7 HeritagePark- Duarte Duarte. 120 1997 $8.0 Affordable C 8 Hollydale Senior Apartments South Gate 101 2010 $25.0 Affordable C 9 Jasmine at Founders Village Fountain Valley 156 2005 $30.0 Affordable C 10 Magnolia Highland San Bernardino 80 2011 $20.0 Affordable C' 11 Park Plaza Sr. Apts. N Hollywood 203 2001 $21.0 Affordable G- 12 Sterling Court Anaheim 34 2002 $6.0 Affordable C 13 The Grove Garden Grove 85 2007 $17.0 Affordable C 14 The Piedmont N Hollywood 198 2002 $27.0 Market Rate* C 15 Compton Senior Apartments Compton 75 2013 $19.0 Affordable PD 16 Long Beach and 21st Apartments Long Beach 49 2011 $50.0 Affordable. PD 17 Long Beach and Anaheim Phase II Long Beach 156 2014 $50.0 Market Rate* PD 18 Lugo Senior Apartments San Bernardino 119 2013 $19.0 Affordable PD 19 San Clemente Senior Apartments San Clemente 76 2013 $24.0 Affordable PD 20 Casa Pacifica Santa Ana 60 1998 $4.5 Affordable S 21 Cedar Villas Ontario 137 2001 $7.0 Affordable S 22 HeritagePark- Anaheim Anaheim 94 1999 $4.5 Affordable S: 23 Hillside Park Sr. Apts. Hemet 177 1998 $8.0 Affordable S 24-- Pacific Villas Pomona 132 2001 $8.6 Affordable S 25 Rosewood Park Commerce 94 1999 $6.6 Affordable S 26 Valley Village Sr. Apts. N Hollywood 188 1996 $16.7 Affordable S ` 27 Villa Azusa Azusa 147 2001 $8.0' Affordable S 28 5555 Hollywood Hollywood 120 2012 $44.0 Affordable LIC 29 Buckingham Senior Apartments Hollywood 70 2011 $28.0 Affordable LIC 30 Chinatown Metro Apartments Los Angeles 123 2011 $50.0 Affordable LIC 31 Coventry Court Senior Apartments Tustin . 240 2012 $45.0:` Market Rate* C 32 Figueroa Senior Housing Los Angeles 35 2012 $10.0 Affordable UG 33 La Coruna Senior Apartments Los Angeles 87 2012 $26.0 Affordable LIC 34 Long Beach Senior Arts Colony Long Beach 200 2012 $70.0 Affordable LIC 35 North Hollywood Senior Arts Colony N Hollywood 126 2012 $40.5 Market Rate* LIC 36 Tavarua Senior Apartments Carlsbad 50 201.3 $17.0 Affordable' LIC Family Developments DEVELOPMENT LOCATION UNITS COMPLETED COST M PRODUCT STATUS 1 Adams &Central Mixed Use Los Angeles 80 2010 $40.0 Affordable C 2 Belmont Station Apartments Los Angeles 275 2008 $75.0 Market Rate C 3 Clinton FamilyApartments Los Angeles 36 2008 $13.0 Affordable C 4 Coronita Family Apartments Los Angeles 21 2007 $8.0 Affordable C 5 El Dorado Family Apartments Sylmar 60 2008 $24.0 Affordable C 6 Emerald Terrace Apartments Los Angeles 85 2007 $25.0 Affordable C 7 Long Beach & Burnett Apartments tong Beach 46 2010 $20.0 Market Rate* C 8 Pico/Gramercy Apartments Los Angeles 71 2007 $16.4 Affordable G 9 Sichel Family Apartments Los Angeles 37 2008 $13.0 Affordable C 10 Union Point Family Apartments Los Angeles 21 2008 $8.0 Affordable C 11 Yorba Linda Family Apartments Yorba Linda 44 2006 $11.4 Affordable C 12 The Grove at Sunset Court Brentwood 54 2013 $18.0 Affordable UC 13 Tobias Terrace. Apartments Panorama City 56 2013 $18.0 Affordable UC 14 Sherman Village Apartments Reseda 73 2012 $24.5 Affordable UC 15 Vermont Avenue Apartments Los Angeles 49 2012 $20.0 Affordable C ` Rehab Developments DEVELOPMENT LOCATION UNITS COMPLETED COST M PRODUCT STATUS 1 Casa Pacifica Senior Apts. Santa Ana 60 1998 $4.5 Affordable S 2 Cedar Village Apts. Ontario 137 1990 $7.2 Affordable S 3 Heritage Park - Duarte Duarte 120 1997 $7.5 Affordable S - - 4 Hillside Park SeniorApts. Hemet 177 1998 $8.0 Affordable S 5 Pomona Village Apts. Pomona 132 1990 $8.6 Affordable S' 6 Rosewood Park- Commerce Commerce 94 1999 $6.0 Affordable s 7 Villas of Azusa Azusa 147 1990 $8.0 Affordable S Key NOTATION DEFINITION? NOTES *Market Rate Projects have a 20% affordable housing requirement C Completed IC Under Construction PD Pre -Development 5 Sold PROPERTY MANAGER Marketing and Promotions Program Solari Enterprises, Inc. The marketing program will be focused on families Gianni Solari earning between 30%, and 55% Area. Median In- 1572 N. Main Street come ("AM]"). To accomplish a successful lease -up Orange, California 92867 of the community, the following marketing programs P 714-282-2520 x211 will be implemented. F (714) 282-2517 gianna@solari-ent.com Drive by Traffic Builders The main monument I.D. sign at the entrance to the community. Roles & Responsibilities in Brief - Publications Display ads will be placed in the Los Meta has extensive experience in management op- Angeles Times and other local newspapers. erations and ownership - of facilities similar to that -of -- --- - -' _- - --- the proposed project. Meta will work with Solari En- Flyers The initial flyer will be mailed to all persons on - terprises, Inc. ("Solari") to manage the building, in- the interest list notifying them of construction status, cluding its marketing, leasing, inspections, Section 42 anticipated move -in date and will include the num- Low-income Housing Tax Credit ("LIHTC") compli- bered Pre -Qualifying Application. ance, compliance with other tenant restrictions; col- Tenant Referrals This can be a significant source of lection of rents, enforcement of leases, building traffic for qualified tenants and should be utilized to maintenance and repairs, utility and services estab- its fullest. Tenant referral flyers will be distributed to lishment, maintenance of property accounts and operating budgets, and maintenance of records _ the tenants on a. monthly basis and also referred to and reports as .needed. Through its partnership with in the monthly newsletter to current tenants. -- Solari, this project will be marketed, leased, and Toll. Free Number Toll free numbers will be set up managed with full transparency in strict accord- and will call forward to the main number. All adver- ance with fair housing law and City of Vernon rental tising will utilize these toll free numbers unless provid- regulations. ed by a publication. About Outreach Program - Solari is a full service property -management organi- Outreach organizations will include recreational zation specializing in affordable housing: The portfo- centers, service organizations, and churches, lio.. includes multifamily- housing for families, seniors, among others. These organizations will be contact- special needs and single room occupancy. Solari is ed via and personal visits. Brochures, One. of the most experienced firms in the manage- .telephone floorplans, and related marketing materials will be ment of LIHTC properties. The principals' involve- provided- prior to successful completion. of construe- ment in the LIHTC. program began. in 1989. Solari has Lion, An ongoing outreach program will be estab- - performed the complete lease -up and certification lished to ensure they are informed of availability and of-more than 80 LIHTC .properties to date. Currently Solari is supplied with property marketing: materials. - the company is managing approximately 60 LIHTC All visits will be documented on. the Community Out - properties. Additionally they provide compliance- reach Marketing Log. monitoring services through audits, file repair, and training to owners, managers and equity Investors. Lease -up Schedule Solari currently manages eleven (1 1) Meta family _ apartments. (See resume at Appendix 9.) Pre -leasing will begin approximately four (4) to five - (5) months prior to the anticipated completion date. Property Manager References The goal is to have 100% of the units "pre -leased" Friendly Hills Bank Anthem Development, LLC and to reach 100% occupancy within 90 days after Liz Buckingham Anthony Cheng receiving the Certificate of Occupancy. 16011 East Whittier Blvd 1721 W. Garvey Ave. Suite H Whittier, CA 90603 Alhambra, CA 91803 P 562-947-1920 P 626-282-2929 „. 1ILMMA • Plans and Procedures for Accepting Applications Processing of Applications and Tenant Selection Cri- teriaMarketing of the project will include community out- reach to those groups least likely to know about this When the applicant selection process ` has been housing so that prospective tenants within those completed, the selected applicants will be notified groups feel welcome. to apply. to come to the leasing office for the following: An application period up to 30 days will be estab- • Must show current photo identification and So- lished to ensure that various ethnic, racial and Ian-. cial Security number validation guage groups have sufficient time to learn about the availability of the project and complete the re- Personal interview quired preliminary application process. All persons . Payment of non-refundable Application Fee that respond during this period and meet the follow- ing requirements will be accepted into the applica- tion process: • Completion of any additional forms required to Complete application including verifiable income complete. the application process (LIHTC appli- - and asset information and at least' five 5 cants must complete TIC questionnaire and sign - O years of appropriate verification -forms housing or rental history. Any incomplete, inaccu- rate or falsified informationwill be grounds for rejec- Application Processing ' Lion: A credit report and criminal history report will be ob- Meet minimum and maximum income guidelines tained for all applicants. Applicants will be given a and be able to demonstrate ability to pay the rent. score which will indicate if the ` applicanf is ap- Applications must be returned via mail within a 30 proved or denied. Applicants may be denied _.... daytime period. All applications that meet the re - per on the criminal history report only as allowed per California State Law. An Adverse Action Letter quirements will be date and time stamped in the will be issued for any denials order in which they are received. All applications will be reviewed but not verified at the time of ac- References from previous landlords will be acquired ceptance. for each applicant who meets the initial criteria. If All Pre-Qualif in A lications will be included in a the landlord reference is negative, the applicant will y g pp be notified and given five days in which to. come to public lottery for placement in the building.All a p- the leasing office and discuss the situation. if the ap- plicants not selected during thelottery.. will be ant -- . cannot adequately show that a negative placed on awaiting list pliclandlord reference has been rectified, a rejection - Those applicants on the waiting list will be notified letter will be sent to the applicant showing reason that it is their' responsibility to.advise the office of any for rejection. A negative reference includes failure address changes and if they cannot be contacted to make timely rental payments within the last year, by mail, either for vacant units or in the course of a an unmet obligation owed to a previous landlord or waiting list update, they will be dropped from the a judgment/eviction against an applicant by a,cur- waiting list. All persons that submitted a Pre- rent or previous landlord. Qualifying Application during the specified time pe- The income of every prospective occupant of the riod will receive a letter. notifying them of either their unit must be verified. All regular sources of income, number on the waiting list or if they. are part of the including income from assets must be verified. Veri- group over the 300 name limit. fications must be received prior to the Tenant In- . If the applicant meets the basic criteria, his/her come Certification and the actual move -in. ` Once name,will be laced on the a verifications are received the total household in - When a vacancy in his/her income category oc- P pproved waiting list, come is calculated to ensure that the household curs, and his/her name is next on the list, the appli- meets the minimum and maximum income guide - cant will be called in to update the application. lines. Upon completion of the application process a de- ;bE ELOPMENT `+' termination will be made by the Tenant Manager to House Rules Approve policy concerning tenant re either approve or deny an application. Applicants sponsibilities, guests, pets, parking, vandalism, etc. that are denied will be notified in writing within two weeks. Security Establish policy concerning level of security to be maintained for the safety and protection of Approved applicants will be contacted once their the tenants. file is complete and approved (i.e. all income verifi- cations are received; rental history verified, credit Operations Perform the various services and respon- history, etc.). The applicant will then schedule an sibilities described in this plan, including disburse - appointment to come in to select their apartment ment of funds and contracting for services in ac- by viewing the site planA "Holding Deposit Agree- cordance with the regulations and documents.' ment" and payment of $500 refundable Holding De- posit is required when a unit is selected. Once the Service Agency Partners Contract with operator's of building is ready for occupancy the lease signing/ Service agencies to provide tenants with access to move -in date will be scheduled. services. PROPERTY MANAGEMENT Confidentiality_ The Partnership, Solari and Service agencies shall agree that tenant and client rights The development at. 4675 52nd will be the sole asset are respected, and complied with as a matter of of a to -be -formed California limited partnership con- principle and practice. trolled by John M. Huskey. The Partnership establish- es the management; maintenance service opera- Owners Operating Role tions, and policies for the property. Solari will oper- The Partnership's role is to develop and provide ate as Property Manager in accordance with the oversight of all policies, procedures and regulations Partnership's established policies. pertaining to the operations of the project. All poli- Roles & Responsibilities cies, procedures and regulations shall adhere to ap- propriate Federal, State and local laws. Solari will It will be the responsibility of the Partnership to estab- receive approval from the:Partnership before estab- lish the .general .policies under which Solari will oper- lishing new procedures, policies, or budgets. ate. Once the. policies have been established by the Partnership, the authority is delegated to Solari. Meta shall provide Solari with copies of all contrae- Such policies include, but are not limited to, the fol- tual documents necessary for Solari to develop an lowing areas: appropriate Leasing/Marketing Plan, and to main- tain continual compliance with any regulatory re Emergency Situations Solari shall take any action quirements. deemed necessary to insure the safety and welfare of the tenants. There will be no limitations on Solari's Day-to-day operations of the project will be under ability to carryout the Partnership's responsibility. The the direct supervision of the Resident Manager, who Partnership will be contacted immediately when will report to Solari, who in turn will be overseen by such action is deemed necessary. the Partnership Asset_ Management team. Decisions within the approved budget and management Tenant Selection Establish tenant selection criteria agreement, in keeping with the policies of the man - with adherence to the guidelines of the procedures agement program and in keeping: with the policy established under Fair Housing and Equal Opportuni- set by the Partnership, may be made by Solari. ty regulations. The Partnership may delegate to Solari any man - Eviction Policy Approve policy concerning' late agement duties which are not required to be per - charges and action to be taken on non-payment of formed by the Partnership. However, the Partnership rent. remains completely responsible for .all aspects of management including duties delegated to Solari. Staffing and Salaries Approve management's hiring policies, method of securing personnel and salary schedules. Concept A for 52nd Drive Apartments, Birds Eye Perspective of Site Plan EXECUTIVE SUMMARY - Meeting Housing Production Objectives Due to the j %AMI unit # %of units -' readily- available finance market, the City's housing 30% 4 i l development goals, and proximity to family -related 145% 9 26% infrastructure, we are proposing a Section 42 Low ; -, 50% 14 40% Income Housing Tax Credit .multifamily affordable - - - -- - - i55% 8 23% housing project at 4675 52nd Drive. ___ (Total 35 100% Since first conceptualizing this project, Meta and its _.. Manager 1 unrestricted development team have aimed to deliver a project - - - - about which the City of Vernon would be proud. This - proposal for a thirty-six (36) unit apartment commu- PROJECT DESIGN nity targeting families, has been planned with high Opportunities include the site's large size, flat grad - quality specifications, rich amenities, and an eye ing, and design freedom derived from inconsistent towards long-term operational success. Meta has architectural character in surrounding communities. carefully planned this project to be economically Without a dominating architectural tradition, Vernon and environmentally sustainable. From day one, to is free to make a unique architectural statement vis- the. end of the 55-year affordability period, the pro- a-vis this one housing project. The contemplated ject is designed to be built and operated in a fiscally height, set -back and parking, restrictions are con - responsible and fair manner: sistent with the fabric of the surrounding neighbor - Through its partnerships with John Cotton Architects hood, and consistent with the City of Vernon's unit and Green Dinosaur, Meta proposes a development count target. at the LEED for Homes Platinum level. This project will Because LIHTC projects must be in close proximity to be an example of how sustainable design should be a minimum number of amenities, this site is able to a best practice in affordable housing development, leverage the following amenities to .gain access to -:..- tax credits: METRO Bus Lines 108/358, 260 and 61-11 _ Maywood Park and Recreation Center, Food 4 Less, Rite Aid, Ardmore Medical Clinic, Maywood Elemen- r1lox tary School, and Maywood Cesar Chavez Library. f Mu4PP -Al--P, ('ITV �1F \/FR nI(lhl S71�IIhf1Pl\/F Fa(ll ICIhIr.r1F\/FI (1P �.IKAIT°;: '�. -_ ._..N.... ., c Puiiivaina; 1'4U11r1We5TrleV0Tion Constraints include a seventeen (17) foot easement Character aligning the rear spur track, noise related to the train that runs twice per day, the site's industrial neigh- Concept A This concept simultaneously pays tribute bors, and environmental contamination. Rather to Vernon's industrial nature and reconnects the site than. remaining unused, on the easement we will to the old Los Angeles River wetlands, pre -concrete. place screen trees, edible gardens, and a walking The shifting of buildings and broken -up massing is path. Excess noise Can be mitigated with dual pane harmonious with the Scale of the adjacent residen- windows and tree buffers. The site's environmental tial neighborhood, while the materials and forms are contamination is overcome with a combination of congruous with Vernon. The shifting buildings create new clean fill throughout the site and vapor barriers multiple courtyards for different activities. Smaller -- below each structure. The costs of all such spaces, like private decks and edible gardens are measures are included in the development budget. for more intimate reflection, and larger spaces and Design Overview; Architectural and landscape ser- paths connect people socially. vices will be provided by award winners John Cot- In terms of landscape, this scheme features mean - ton Architects and Mark Tessier Landscape Architec- dering garden paths that create a strolling experi- ture, respectively.. Their creative teams have collab- ence with multiple gathering spaces for the resi- orated to provide two interchangeable design con- dents to enjoy. These spaces each have their own cepts. Both concepts fit the fabric of surrounding identity with amenities such as a children's play ar- neighborhoods. Meta is confident- it can execute ea, bbq, water feature, and shade trellis. An exer- whichever style the City prefers. In both cases, the cise path along the rear property line of decom- project consists of; posed granite in a woodland like atmosphere allows • Number of buildings 5 for recreation and screening: • Unit count • Unit types 1, 2 and 3 bedroom Concept B This is a classic concept of "housing," • Average size 930 utilizing traditional forms with pitched roofs, stone veneer, and stucco. The buildings have been com- bined into small groups in order to fit into the adja- • Low maintenance and drought tolerant land- cent residential neighborhood and to help diminish scaping. the perception of the higher density. The courtyard • Flowering street trees will be repeated along the and community building form the north/south.axis of _ sidewalk to contributes to a pedestrian friendly the site, and the east/west axis is formed by a tree - environment for the residents and neighbor- lined paseo connecting the central, courtyard to - hood: parking and the individual units, _capped at the ends • Along the rear property line, an edible garden with shade trellises for waiting and greeting arriving guests. zone with built-in benches and fruit trees will al- low residents to grow their own fresh produce. The clock tower defines the community entrance to the project. The buildings are arranged around a central open meadow -like park space located just behind the building, which is the focal point of the site. The park hosts amenities such as a children's On -site Parking Provisions As shown, the project will play zone, shade trellis, seating, water feature,bbq average 2.22 spaces per unit, which should comfort - area, and play lawn. ably accommodate the tenant population and their guests. Building Type Buildings will be limited to two stories and spread over multiple modules connected by Access A pedestrian -only gate at each end of the paths. Parking will be in two strips located at the north parcel is proposed as a convenient way for tenants and south perimeter of the parcel. These parking to access the nearby recreational center and its strips buffer the living space from adjacent industrial amenities The perimeter will be secured with a per- neighbors and minimize any potential impacts of meable gate. Vines will soften walls and add addi environmental elements to the east. tional privacy for the tenants. Scale and Mass The two-story massing and configu- Sustainable/Green Features The project is pursuing ration of several smaller buildings allows for a wel- the highest certification level under the well recog- come community feel and meshes well with the nized USGBC LEED rating system, LEED for Homes - fabric of the surrounding properties. The separate Platinum. The LEED (Leadership in Energy and Envi buildings also create privacy and individualized ronmental Design) rating system has been selected open space for tenants. for a number of reasons: • It is a well recognized program amongst afforda Unit Summary - - - - ble and market -rate residential projects 1 Bedroom l 4 12 -585 sf . It provides the most comprehensive set of `re- ed _ - - - -- 2 Bedroom 16 44 l -835 sf quirements of any residential green rating Sy3-. 3 Bedroom 16 44 - 1,085 sf tem available in the United States, allowing the - --- ---- - - -- --- team to pursue the credits which best suit the - Total 36 100% project The design team's familiarity with the rating Sys- Site and Unit Amenities The project will have numer- tem ous on -site amenities and services to benefit the ten- • Site location and proximity to Community ser- ants, including, but not limited to: vices provide a number of `free' credits • Community building with community kitchen, To achieve LEED Platinum, Meta will utilize a combi- patio and BBQs nation of passive and active systems. Below is our • - Office for property management and Social Ser- preliminary list of sustainability strategies. vice Providers • On -site laundry • Use of drought -tolerant landscaping to reduce Computer lab reliance on water for irrigation • Manager's unit 0 Pest control strategies • Tot lot on a safe rubberized surface 0 High efficiency plumbing fixtures, including high • Community edible gardens efficiency cooling and heating systems (SEER • Fully gated 16), and high efficiency; centralized .domestic - Parked at a ratio of 2.22 hot water system (at 98% thermal efficiency) • Private balconies or patios • HERS measures (Duct Leakage Testing; Quality • Energy Star refrigerators, dishwashers, garbage Insulation Installation, Refrigerant Charge Testing, disposals, and range/oven combination and Verified Air Conditioning EER) • ADA accessible units • Energy Star Appliances • High efficiency lighting throughout all the co.m- mon areas of the building and site I Tenant 72 • Maximize possible credits under energy efficien- ---- - - -- - - --- cy by the useing high insulation values at wall Visitor - $ (R21), roof (R36), and exposed floors (R30) and - -- -- (Accessible) (4 cars, 1 van) high efficiency vinyl windows (SHGC=0.18, Total 80 Tvis=0.50 and U-factor=0.28 Btu/hF sq ft) • Framing efficiency to cut down on timber waste • The use of certified wood and environmentally Notable Cost Assumptions are as follows. preferable products (whenever available) Lower Appraised Value of City Donated Land Guid- Reduced waste during construction once provided in California Tax Credit Allocation The development will also include renewable ener- Committee (CTCAC) Regulation Section 10322(i)(4) (A) that gy systems, A combination of solar thermal panels states the highest and best use value of land donated to a project should be and:: solar photovoltaic panels will be strategically oriented for optimal solar access and located based on its use as residential rental property:_ Because the City to maximize the number of hours when the panels are of Vernon is entirely zoned "General Industry" and land for housing was not shaded by any structure. However, achieving only: available because the City purchased it and decommissioned it LEED Platinum through the use of solar panels alone is extremely costly and difficult. as an in- dustrial site, Meta requested of -CTCAC that 4675 Therefore,. prior to introducing on -site renewable energy systems, 52nd Drive be valued at the higher commercial use. we will maximize energy efficiency strategies: Rebates A commercial valuation would have benefitted the City in that it would have maximized the leveraging for these solar systems have been incorporated into the development budget. power of its land to secure low income housing tax credits. Unfortunately,' CTCAC denied this request, FINANCIAL SUMMARY requiring that the land be valued as residential rent- al property. This valuation'at $1.7 million is included The following is a brief summary of the financial as- in the development budget. As a result of this lower - pects of the proposed development. valuation and to ensure the project maintains a -- c ff VIompe i ive CTCAC tie -breaker of 30.012%, we must Total Project QOSt request $500,000 in a Vernon Cash Contribution, $ 11 8 million (See CTCAC correspondence at Development Costs/Unit $c327 496 Appendix 6.) (See 3rd Party Appraisal at Appendix 7) (of whiofi53 819 are land costs City of Vernon Value of Land Donptidn Possible Ground Lease Should the City prefer if, we $ 1 7 million would be willing to engage in a 65-year, no cost City of Vernon Cgsh Contribution $`500 d00 k ground lease. Ttix credi# Equity s $ 5m�lllon, Environmental Vapor Barrier (See Ied'Stone's Utter of `Interest m A p $250,000 has been a ppehdix 2 budgeted to cover clean fill throughout the site, va- ConstructionLoad por barriers below each'structure, and limited envi- $ 7 5 m1h - Permanent Loan [l ronmental clean up throughout. t $ :l 8 rn�llion (See JP Morgan Gh Commitment in A asers Hard Construction Costs KKG (whose resume is pro- ppendlx 5) vided in Appendix 10) provided preliminary cost esti- d Detlerred Develop'erEPee ${23 504 mates using current architectural concepts, . r- knowledge of Meta's high quality specifications, real time industry data on materials costs, forecasts of With the City's contribution of land and cash, valued the future cost of resources, and experience gar - together at $2.2 million resulting in a tie -breaker of nered from continuous forecasting and construction 30.012%, we anticipate that an application for com management. These estimates were verified by a petitive LIHTCs will be successful in 2013. third party general contractor who has built a num- Based on market knowledge of the 9% tax credit ber of Meta projects. . program, we have underwritten tax credits at $1.01. Offsite Improvements will include new utility services, Additionally,."construction and permanent debt has new underground utility distribution, new drive a - been safely underwritten at rates above what is proach, new curb and curb ramps, gutter and sidep- available today. A 5% hard and soft cost contin walks, new street trees; and two new street lights. gency has been included on top of the detailed estimates. Prevailing Wage We have assumed payment of prevailing wages and anticipate its inclusion in • Vernon's Disposition and Development Agreement. Meta"Hbus�n� Cor" t g pora ion PROPOSAL FOR CITY ©F VERNON 52ND DRIVE HOUSING DEUELOPlv1ENT ®..._ q II II ..TIMII III Y Y� fiEl�{f o og s yAll W n x f G Ka i co ul � r g CL LU Wl1 14 zrr 0 9 Moo �^ arm Of WUl F-tie� I� %, • C a� Co) II .._ oxmoas�c�x�nuvv�mnoowsnoxevwrexu•mn ni F pfE fill I j{{@,4yY f F ygygyg a" yy 2a Q WLU �T W LO 5 3 } V 3 Tz MET a € C St.� y O '1 _ n, r •,ey m' Z rfi %jn'. p x _r O Y., t �� •i" ri 4 �l RON �L. s - xgl Im & "I �.¢�t1' . ,.>.. r `3 r ' p` �cT'M` ,5§.2 } lF y� F x[oi,} �i 7itS 4411}- F'rM.`Fi✓ g£ g -�nowio r / 4 r r � stt Yi, r kV7� �; a �.- �� . ,r w d Y ; den w J� O cr ij OW ' ¢ k� N b \ to LC) t 'AA AM %'"M� ti` `' " -t y, k.: t r "W Oki y • of ;' i y Y` �r \�1v NOW t t i 1 i 4 1 tV", ar.. An f r t� ` 4l V h Vol2 � � s L•t ry€ �k s�jra 'rl4N- bra¢ F (1 k 4 s $�5 - f .k.�$-h 't¢ �13 /0/8� 1 .y s e R . . . . . . . . . . . . . . . . . M.PAR p K 1 ulm �1 i® IS A RRA'minnu a ooz m >owwN m m � m w K. Nz o z 3 C) Fy- m a� o� U z `o e j!t 1 4 LU - C _ LLI Lij G G a^ s t St 1 Z W � � a � C 20 ' - � t - �{ ( - 4` .. RffiM' r u . ifs {{� V xg 6 TENANT SERVICES COORDINATOR • Serving as a representative in the community for Western Community Housing services offered to tenants. Graham Espley-Jones Coordinating the staffing and presentation of on 151 Kalmus Drive, Suite J-S -site classes, programs and services. - Costa Mesa, CA 92626 Developing and maintaining relationshipswith P (714) 549-4100 property managers and arrange biannual meet- ciraham@wchousing.com ings to discuss program opportunities or needs. - Participating in the creation of budgets for ten - Overview ant service programs, and: monitoring adher- This project will provide high -quality services de- ence to those budgets. signed to improve the quality of life for tenants. Ser- ' Developing and maintaining the resource direc- vices will be appropriate to meet the needs of the tory that lists local service providers. tenant population served and designed to gener- Assistance with Independent Living Skills WCH will - - ate positive changes in the lives of tenants, such as recruit and schedule on -site adult educational, by increasing tenant knowledge of and access to health and wellness, and skill building classes, de - available services, helping tenants maintain stability signed to assist tenants in maintaining their housing and prevent eviction, building life skills, increasing and achieving independence. Such classes shall household income and assets, increasing health include financial literacy, computer training, nutri- - and well being, or improving the educational suc- tion class, exercise class, health information/ cess of children and youth. awareness, parenting class; and on -site food culti- vation and preparation classes. Other independent The project includes between 2,500 and 4,500 living skills classes may include money manage- - square feet of physical space for service amenities. ment, budgeting, and house -keeping. Experts will We are committed to providing services within six (6) be recruited to provide credit counseling and con - months of the project's, placed -in-service date and' Sumer rights training. for a minimum period of 10 years. All services wilt be of.a regular and ongoing nature and provided to Community Building Social and educational pro- _ tenants free of charge. : grams will be developed and, implemented. by ten- ants, staff, and volunteers to foster community.within Adult Educational, Health and Wellness the development and help tenants become com- fortable with the service staff. On-site.activities facili- _ Western Community Housing will coordinate on -site tated by peers/tenants, staff, and volunteers may recreational and social support services for adults include movie nights, game nights, reading groups/ and youth. WCH will create collaborative partner- book clubs, spiritual groups, holiday celebrations, ships. between organizations and stakeholders, to en - arts and crafts, field trips, and a monthly' Tenant sure that community members have access to a 'full Council meeting; array of timely,. tenant -responsive health` and well- ness, and skill building classes. On -site services will complement off -site services already available to After School Program for School Age Children tenants, including those available at the Maywood Activity Center two blocks away. WCH's responsibili- Neighborhood Youth Association ties may include: Amanda MacLennan • Assisting tenants, through interviews, surveys, Executive Director 1016 Pleasant View Ave. and community meetings, to identify the 'ser- Venice, CA 90291 vices needed to promote their independence. P 310-664-8893 • Developing and maintaining partnerships with www.nkayouth.orq local providers of services. to use site as platform in which to deliver services. Description of Need Commonly; children of afforda- . . • Linking tenants with existing programs .and ser- ble housing struggle in school due to a lack of indi- vices in the community, and facilitate access to vidualized attention and support. Neighborhood services. Youth Association ("NYA") will target the resident.. •IAPARTMENTSMETA . . children of this project and seek to provide needed NYA tutors are trained by certified teachers to evalu- __ strategic tutoring and academic counseling that will ate student's needs and provide individualized at - provide them the o p opportunity to gain a college edu- - tention and training to students on a daily or weekly cation or trade skills and become productive and basis. NYA typically provides one tutor for every six self-sufficient. students. Additionally, parents are required to col- Prehen- laborate with tutors to provide as supportive an envi- sive after -school tutoring program designed for chil- ronment as possible for student learning. dren living in affordable housing developments. Stu- All services will be provided on -site. Under the lease dents grades 1-12 in this college -prep program re- agreement at the development, all tenants will be ceive a full 12 hours per week of tutoring and men- _ encouraged to enroll their children in this tutoring Loring, including individualized tutoring, homework program. All enrolled children will be required to at - assistance, computer skills training, and academic tend 80% of tutoring programs offered to remain eli- enrichment. Tutors are recruited from local school gible. All parents of enrolled students are Irequired to districts, colleges, and the community -and resident support the tutoring program by encouraging their - participants are encouraged to become tutors when they are ready. Tutors are paid and trained to children to regularly attend and by participating themselves in parent workshops. encourage a sense of permanence, consistent at- tendance, and quality. Tutors partner with parents to NYA has operated this structured tutoring program provide a comprehensively supportive learning envi- since 1997, and has refined and restructured the ronment to students who may otherwise Y perform program to work as effectively as p g y possible at a poorly in school. If program participants achieve home site. However, site -specific challenges, re - acceptable grades and SAT scores, the University of sources, and new ideas may present unique oppor- Southern. California and Pitzer College (Claremont) tunities to empower parents and tutors to collabo- are committed to providing scholarships for these rate in new ways: students. This is a significant opportunity for low- income children who might otherwise be denied a college education. - Assurtiptions Analysis .'_ Afforiabihty,' Income Growth Factor 2.5% Hard Costs / Unit $ 1.65,250 Target AMI Units Conc. Expense Growth Factor 3.5% Ttl Development 30%AMI 4 11% Replacement Reserve $250 Cost / Unit $ 327,496 45%AMI 9 26% Real Estate Tax Growth 2.0% 50% AMI 14 40% 55%AMI 8 23% Manager 1 Total 36 100% Are n,lricome 1 Bed 2 Bed 3 Bed CAC @ 100% $1,582 $1,896 $2,192 Utility. Allowance 1 40 $ 52 $ 62 otal nnualsGross Income' ' 390,719 Other Income 7.00 3,024 Vacancy 5.0% ' 19,687 Effective G'ross'Income 374,056 '. al MontFily-[tent$ . 32,560 otai Annual Ren#f $ ,390,719 Assumptions about Occupancy and Affordability 1) This development will service households earning 30% to 55% of the Los Angeles County Area Median Gross In- come published by the California Tax Credit Allocation Committee. 2) Affordable monthly rents are calculated by multiplying the Los Angeles County area income levels by 30%, adjust- . ing for household size, and dividing by 12. A household size of 3 is used to calculate the affordable housing cost for a 2 bedroom unit and a household size of 4.5 is used to calculate affordable housing cost of a 3 bedroom unit. 3) Occupancy is set at a maximum of two persons per bedroom plus one. The range of occupancy per unit size is: One -bedroom 1-2 people Two -bedrooms 2-5 people Three -bedrooms 4-7 people Year l� Per Unit Per Month , Expenses: 2014 36 Salaries & Benefits Manager $ 32,000 - $ 889 $ 2,667 Manager Apartment $ 15,782 $ 438 $ 1,315 Employee Burden $ 8,960 $ 249 Total Salaries & Benefits $ 56,742 $ 1,576 $ 747 $ - 4,729 - Administrative $ 3,500 $ 97 $ Advertising/Marketing $ 2,000 292 Repairs & Maint. $ 56 $ 167 Maintenance Manager $ 17,500 $ 486 Painting & Cleaning $ 9,000 $ 1,458 - Repairs & Maint. $ 9;000 $ 250 $ 750 Total Repairs & Maintenance $ 250 $ 750 $ 41,000 $ 1,139 $ 3,417 Contract Services Fire Sprinkler/Alarm Service $ 1,500 $ 42 Trash $ 7,776 $ 125 Pest Control $ 216 $ 648 Landscape/Grounds Maintenance $ 2,000 $ 56 $ 167$ Security Monitor $ 7>200 1,000 $ 200 $ 600 Total Contract Services $ 19,476 $ 28 $ 83 $ 541 $ 1,623 Utilities Electric $ 11,700 $ 325 $ _. 975 Water & Sewer $ 12,600 $ 325 $ 975 Gas Total Utilities $ 12,600 $ 350 $ 1,050 $ 36,000 $ 1,025 $ 3,000 Management Fees $ 22,443 $ 623 $ 1,870 _._ Legal/Audit 10,000 Real Estate Taxes $ $ 2,000 $ 278 $ 833 Insurance $ 56 $ 167 Replacement Reserves $` $ 9,900 9,000 $ 275 $ 825-- MHP $ 250 $ 750 Activity Fee $$ 15,000 $ $ Total Other $: 68,343 $ 417 $ 1,250 $ 1,898 $ 5,695 Total Expenses I221 562 $b 154 $ 18463J Additional Project Expenses: Asset Management Fee $ 5,000 Managing General Partner Fee $ 7,500 $ 139 $ 417 Activity Fee $ 208 $ .625 Total $ 12,500 $ 347 $ _ 1042 - . �,, , „ rTotat ost Cost Per Unit -, % of Total Budget Eligible Basis LAND COST Acquisition $ 1,700,000 $ 47,222 14.42% Demolition & Environmental $ 75,000 $ 2,083 0.64% TOTAL LAND COST $ 1,775,000 $ 17,778 15.06% Offsite Improvements $ 162,478 $ 4,513 1.38% TOTAL ACQUISTION COSTS $ 1,937,478 $ 53,819 16.43% $ DIRECT COSNTRCT. COST Building/Garage $ 4,455,521 $ 123,764 37.79% $ 4,455,521 Gen Cond/Overhead/Profit $ 602,500 $ 16,736 5.11% $ 602,500 On -Site $ 448,668 $ 12,463 3.81% $ 448,668 Construction Bond/Insurance $ 442,301 $ 12,286 3.75% $ 442,301 TOTAL CONSTRUCTION $ 5,948,990 $ 165,250 50.46% $ 5,948,990 SOFT COSTS Appraisals $ 10,000 $ 278 0.08% $ 10,000 Arch., Structural, MEP, Landscape $ 430,000 $ 11,944 3.65% $ 430,000 - Reimburseable/Reproductions $ 20,000 $ 556 0.17% $ 20,000 Civil, Survey & Soil Engineers $ 275;000 $ 7,639 2.33% $ 275,000 Construction Manager $ 210,000 $ 5,833 1.78% $ 210,000 Environmental $ 12,000 $ 333 0.10% $ 12,000 Escrow/Title $ 25,000 $ 694 0.21 % $ 25,000 Escrow/Title Perm $ 20,000 $ 556 0.17% $ Furnishings $ 35,000 $ 972 0.30% $ 35,000 Insurance $ 65,000 $ 1,806 0.55% $ 65,000 Legal $ 100;000 $_ 2,778 _0.85% $ 100,000 Marketing/Lease Up $ 10,000 $ 278 0.08% $ Market Study $ 10,000 $ 278 0.08% $ 10,000 - Local Development Impact Fees $ 204,000 $ 5,667 1.73% $ 204,000 Real Estate Taxes $ 35,000 $ 972 0.30% $ 35,000 Permit Fees $ 100,000 $ 2,778 0.85% $ 100,000 Tax Credit Fee $ 48,800 $ 1,356 0.41% $ - Capitalized Operating Reserve $ 112,000 $ 3,111 0.95% $ - Misc. (Accounting, etc.) $ 60,000 $ 1,667 0.51% $ 50,000 Organizational Misc $ 60,000 $ 1,667 0.51% $ - Subtotal Direct Const.Cost $ 1,816,800 $ 51,161 15.62% $ 1,581,000 $oft.Cost Contingency $ 92,090 $ 2,558 0.78% $ 35,000 Hard Cost Contingency $ 305,573 $ 8,488 2.29% $ ' 305;573 TOTAL INDIRECT CONST. $ 2,239,463 $ 62,207 18.99% $ 1,921,573 FINANCING Const. Loan Points $ 56,250 $ 1,563 0.48% $ 56,250 Const. Lender Reports and Costs $ 15,000 $ 417 0.13% $ 15,000 Const. Lender Legal $ 20,000 $ 556 0.1.7% $ 20,000 ... Const. Loan Interest $ 132,813 $ 3,689 1.03% $ 132,813 _ Const. Loan Interest Post PIS $ 185,938 $ _5,165 1.58% Perm. Loan Points & Fees $ 18,930 $ 526 0.16% - - Perm. Lender Reports & Costs $ 25,000 $ 694 0.21 TOTAL FINANCING $ 453,930 $ 12,609 3.857. $ 224,063 DEVELOPMENT FEE $ 1,210,000 $ 11210,000 $ 33,611 10.26% $ 11,789,861 $ 327,496 100% $ 9,304,626 � IAx SCHEDULE � New Construction Tax,Credif,Calculation 9% Total Unadjusted Basis $ 9,304,626 less Basis Reduction $1,530,000 7,774,626 Total Eligible Basis X High Cost Bonus' _ 130% 10,107014 Total Adjusted Eligible Basis XApplicable Fraction 100% 10,107,014 Total Qualified Basis Total Credit Reduction 0% 10,107,014 Total Adjusted Qualified Basis X Credit Rate 7.37% 744,887 X # of Years of Credit 10 7,448,869 X Tax Credit factor $ 1.01. 7,523,358 LIHTC Equity to Project $ 7,523,358 TO reshold`Basis Calculation Basis Limit Units # Total Basis Efficiency 157,605 0 0 1 181,717 4 728,808 2 219,200 16 3,507,200 3 280,576 16 4,489,216 4 312,579 0 0 8,723,284 Basis Boost Federal Prevailing Wage Y 20% 1,744,657 Parking Beneath Units N 7% 0 Elevator Service N 10% 0 Day Care on -site N 2% 0 100%for Special Needs N 2% 0 3 or more energy efficiency Y 5% 436,164 Seismic Upgrade / Toxic Mit. N 15% 0 Energy Technologies N 5% 0 Local Dev: Impact Fees 204,000 TOTAL $11,108,105 PERMANENT LOAN -1ST TRUST DEED CONSTRUCTION LOAN Max Allowable from Project Cash Flow Amount $ 7,500,000 Present Loan Value $ 1,843,000 Draw Down Rate 60% Interest Rate 6.00% Interest Rate Term 30 Term 20 DCR 1.15 Loan Origination fee 0.75% Annual Payment $ 132,597 Total Interest $ 318,750 Monthly Payment $ 11,050 Loan Origination Fee $ 56,250 Budget Per Unrt, CONSTRUCTION SOURCES USES ,. Budget "< „x , , . I'er,Urtlt w Land $ 1,700,000 $ 47,222 1st Construction Loan $ 7,500,000 $ 208,333 Acquisition Costs $ 75,000 $ 2,083 Donated Land -Vernon $ 1,700,000 $ 47,222 Architecture/Engineering $ 725,000 $ 20,139 Additional City Contribution $ 500,000 $ 13,889 Impact Fees $ 204,000 $ 5,667 Tax Credit Equity - $ 1,504,672 $ 41,796 Const. Loan Interest $ 132,813 $ . 3,689 Deferred Costs $ 585,190 - $ 16,255 Other Soft Costs $ 1,631,581 $ 45,322 Offsites $ 162,478: $ 4,513 Hard Costs $ 5,948,990 $ 165,250 .. Dev. Fee $ 1,210,000 33,611 TOTdI'SOURCES PERMANENT SQURCES_% �'_.. ,Buc9et 1 st Permanent Loan $ 1,843,000 $ 51,194 Donated Land —Vernon $ 1,700,000 $ 47,222 Additional City Contribution $ 500,000 $ 13,889 Tax Credit Equity $ 7,523,358 $ 208,982 Deferred Dev. Fee $ 223,504 $ b 208 TOTAL$OURCES $` 11�789,861' :yam anM �10 W C, W COD OO M I-- CO V q (vj V' Ih cd Ccli0 oc) �. .- � _ MN I,, pO (') M �r N - • .� N oO N� N _ Z ,. LO W M V I- O M co W *- 'mot - N -_ N N Op N Y rZ .. 69' 6 } - b T b4 64 tR 419- b4 6 i 64 lfi Vi O i 2 , T N V N co N - N 64 tFT Eff 64 b4 tot,+ b4 (fi H} 69- - tf} vl} _ �a NO M O, COO N .N O 0 00 00 :.� h �. 11, P ;� f - _ CO I� O I� t4 to+ - b9- 64 t`i t4 b9- K-} vi # V OO O .o Q C)V N N N O. � N (vNj 1 0C)0 0 0 NCO C7 �_ W � C4 } t9- 69- 64 - - d4 64 64 64 tR.64 69- h ll�rl O. h co O ao 64 6 } vi to tiTbq t4 64 toIr tl+ b4 I� N N W h N h M ;- N N O V oo- M N h n N (`3 Ld (h W ly> I 04 OON^ C � . � Nl7 0 N MO Nh .o ujN ff . ... ON. V C, t09- t4 t/} t 4 t4 64 Vi ,. N �:O 1� O n M of CMO` �.. O 0 M M 0 M V o` V � .- 000 M O M N Lo N - N � n (V Ol .o. N 0(V #. 61i'. 6 } Eff esi 64 64 t4 tl+ 6 } V)-- e�4 V} cl M ^N M�. M } 64 )- - - 64 69' tf} 64, - b`T tFT t4 - 64 t* .:.. .... Z 3 } C t N N N " - O " G a �, 6 ro y o , O o N c c V$ moo a)' a N p Z� 6 U Q Q O- Do�u°am o a o > > >� o �(D_ oZ_ o^ a uQ�o a a�mmm a f,, v Q v 00oo 0 _. No cq tf} b4 tf} co �o LO r C, C (. r. C) O C O oo 10 ) 10 N L(') O Lo U O -V -. N rn '0 IX Ln Ln C o 10 r 0 N v 0 CO C 04 r o Co C rn r rl o v v rn c � r 0�0 11%. Lu b4 b4 -b4 tAl tH'. 'tF} 6-r'. b4 tf} V► .M O : C) CD O oo CC) I c� N. i - tom- b4 b4 b`i tfi b4 b4 b4 64 oo I O O oo I oo co W 1 .;. ef} tf} 691 b4 - tf} 64 w. - to,, - _ - t!} t{} b4 b4 V► Z N 00 N 00 Ln C): . C, Cl) �? I O - O - M - (1) A.- O N N 00 <t Lr) W Ln Ln C) C7 - M LO 10 U <si b<i b4 b4 tf} tPr 4.4 fl } b4 b4 tR b4 V► r. 00 Lo 00 of _ O O _ J OD C) . Ln r. V N Ln L� V CO V r: N V r` N N N N 0: tf} tf} - b4 - tsi . b4 tf} tf} - tPr tR. tfT tf} V► 0 i g ..'1 . - C) - rl - O r. N - 00 C) Lo r. V Ln O Ol LA V O O Ln 10 0` I I 10 O 0` Ln Ln ('7 t b4 tti b4 b4 t4 b4 tf}- -tf} tl+ b4 64 tf} V► O C P O r. C) - r. N r. - O- O O r. O O M �.-00 V' 0, V' r. C� LQ ('7. V' I -.O O O O V` N Ln' O t" Ln. ^ N.. _N CN) N N Ln tf} b4 64 - - 64 tt} b4 tf} b4 - tsi ef} - b4 tpr V> I r. O O O. r\ r. I� p r p r N Q _ Ln O O O Ln O Ln Ln N. D Il 0 1 N ? L N _ - -(N') - .O :'LO, I" N.:. Cl) CY) V co i - O N n 00 N Ln Ln C) k , b4 vi 61) to.)- 4.14. tf} 414 tl<} to+ b4 .to+ tf} s Ln 10 - (`� o, of a, 1 O - O O of D` I 0, C, 0- .0 (V tT (h N O 00 - Ln I- N' 10 .O N (v).. _ N t .. . ^ M M �. V.. - - . tPr tsi 64 - - - tsi ef} tf} to+ tR tPr b4 b4 - tR M 10 �. Ln r` OD O N N p Lo 1 C, r. N lll� - O O L'i O Ll� N 10 W r` N 0,- Lr N S C) C) Lo 00 00 O N � _. L^04N U) LO N O N 3 C) Ln N N V O Cl) r. C) C) — N- .0 t N r , b4 tf} 60-, :. b4 tf} tsi tH. 64 :.b4 t19- tf} 64 (D. - - - - - c N- L(D E cm o a� o 0 O J 0- N U T N ✓3 m V W Z N O O o= o0 a Q m o m m N a U o o U) a) a) o a v .. F- u 0 0 - U m 1. ONGOING META INVOLVEMENT legal Construction Manager Meta will provide any and all inter- Bocarsley Emden Cowan Esmail & KKG, Inc. nal and external personnel need- Arndt, LLP Brian Kent ed to develop and operate .the Nicole Deddens 440 N. Mountain Avenue, Suite 114 project. Vice President Chris Maf- 633 West Fifth Street, 70th Floor Upland, CA 91768 fris will have day-to-day responsi- Los Angeles, CA 90071 P 909-624-6222 bili.ties for the development of the P 213-239-8029 bkent@kkainc.com project, with the assistance of F213-559-0765 Michelle Espinosa Coulter as Pro- ndeddens@bacarsly.com ` KKG Inc. has provided construc- ject Manager and Meta's entire - tion management, consulting,- -- accounting staff. John Huskey, Bocarsly Emden undertakes a wide and owner's representation ser- George Russo and Kasey Burke will variety of transactional matters, ` vices since .2001. While they pro - regularly oversee the develop- with a focus on providing compre- vide the majority of their services ment's progress. Once placed -in- hensive legal services for all aspects in , California, they have also -- service, Meta's Asset Manage- of affordable housing and commu- served clients in Arizona, Nevada, ment team will oversee project pity development, acquisition, fi- Tennessee, Mississippi i Florida, operations and maintenance. nance, syndication, operation and Utah, and Washington D.C. Their disposition. In addition, 'their actor- staff possesses extensive experi- - THIRD PARTY CONSULTANTS are neys offer extensive experience in ence in the construction manage - key team members and essential traditional real estate law, tax and meet arena spanning billions of to accomplishing distinct project. finance. Attorneys bring their exper- dollars worth of construction activ- tasks, including entitlement, legal; tise to structuring, negotiating and ity. Their.projects range in size from and construction management. documenting: Partnership and op- $100, thousand rto $110 million: Architecture and engineering are erating arrangements between de- Since 2001, KKG Inc. has played a discussed separately on page 48. velopers and tax credit equity in- role in over $700 million worth of - vestors; private activity and 501(c) construction. Entitlement Management (3) bond transactions among issu- Lee Consulting Group ing authorities; developers, credit The scope of KKG's services to this Mee Semcken Lee enhancers and equity investors; project are expected to be as fol- 3365 Monterey Rd. Joint ventures between for -profit lows. San Marino, CA 91108 and nonprofit enterprises; Regulato- P 213-706-7475 ry and financing agreements be- • Preconstructiom Preliminary f 626-795-6268 tween developers and governrmen- cost estimates. GC contract meehae2@yahoo.com tal agencies; Construction and ar- management. chitectural agreements; Debt and Scheduling: Review and moni- Mee Semcken serves on the des- equity arrangements. for contractor provided ignated local authority for the for- schedule. Create fragment mer redevelopment agency in Los Legal References schedule in defense of sched- Angeles (CRA/LA Member Over- Abode Communities ule delay claims. sight Committee). She has been g ) Robin Hughes, President and CEO Attend and record weekly - the President of Lee ` Consulting 701 East 3rd Street, Suite 400 construction meetings. GroupLLC since' 2004. Semcken Los Angeles, CA 900.13 Document review of plans, - - was Vice President of corporate T 213-225-2762 submittals, and RFI's. real estate and public affairs at p rhuahes@abodecommunities.ora Draw Requests- (monthly line Warner Bros. from 1992 to 2000 item percent complete, previ- - and served as the city council liai- California Community Foundation ous draw tie, ` change order son for the Community Redevel- Ann Sewill, President- cross check. o menu Agency of Los Angeles p g y g 221 S. Figueroa St., Suite 400 Change order review. from 1991 to 1992. She received Los Angeles, CA 90012 .Maintain construction draw - her Juris Doctor degree from T 213.452.6267 ings. Southwestern UniversitySchool of asewill@calfund.ora Monitor project close out. Law. Construction Manager (cont.) Potential General Contractors - Construction : contract: Re- Cost control measures will include ,,th x '•S1 view, create exhibits, manage at least three competitive bids. signature process. Accompanying contractor pro- • Comparative system cost posals are detailed scope -of -work analysis. checklists, which may include • Value engineering: Compark LEED compliance, wage determi- sons and plan review. 'nations, jobsite working hours, • Utility coordination and pro- ADA requirements, fire caulking Cessing. • Inspection oversight: Solicit inclusion, construction sequenC- ing, interface between trades, Emerald Terrace Family, completed by Cobalt Construction in 2007 bids for inspection service. Pro- and assumptions & qualifications: - - - vide baseline budgets for process. Manage award Cobalt Construction Company i process for inspection services. Larry Persons Monitor inspection services..2259 Ward Avenue, Suite 200 Review inspection reports. Ap- Simi Valley, California 93065 I prove inspection invoicing. P 805-577-6222 Solicit refunds from Contractor F 805-582-5053 when services run over budg- larrv.persons@cobaltcc com et. _._. • Secure Legal Notices: Notice Optimus Constructionto proceed. Notice of comple- Jeff Boysen Magnolia Highland seniors, completed by Lion. 4,40 Western Avenue, Suite 202 Optimus Construction in 2011 • Monitor design updates . in- Glendale, CA 91201 eluding RFls, ASI, SK, ensure P 818-550-841 1 design incorporation into con- F 818-550-9411 tract does. ieff@olptimusconstruction.com RWIF • Third -party investor/lender `4, construction liaison. Lucas General Contracting Corp. • Site utilization review. Brad Teeter 1111 Quail Street (See resume at Appendix 10.) Newport Beach, CA 92660 P 949-474-0221 KKG References F 949-474-3097 Long Beach Senior Artist Colony, under kentlucas@lucascomr)anies.net construction, Cobalt Construction Essex Property Trust, Inc. Jeff Lambert (See resumes at Appendix 13.) Director of Construction 925 East Meadow Drive Palo Alto, CA 94303 P 650-494-3700 _ . Alliant Capital Mauro Lederer Vice President, Acquisitions 21600 Oxnard St. Suite 1200 Woodland Hills, CA 91367 P 818-668-2840 Garden [Me#a Hpus�ng Cgrporat�on _ -` A, in 2007 52ND DRIVE HOUSI G'DEV . N ELO�MNrt' Grove seniors, completed by Lucas Construction RROPOSgL FpR CITY OF VERNON Architect John Cotton Architects John Cotton 3816 Main Street Culver City; CA 90232 P 310-558-8616 F 310-558-8676 icotton@johncottonarch.com f; As a leader in affordable housing design, John Cotton Architects is adept at satisfying this specific market. Cotton's experience co- vers the broad spectrum of re- stricted -population housing. From developments for seniors and work force, to subsidized commu- nities for very low incomes tenants, Cotton knows the specialized de- sign requirements of varied financ- ing strategies and, agencies. Cot- ton has designed many of Meta's projects including Adams & Cen- tral Mixed Use, Figueroa Senior Housing,NoHo Senior Arts Colony, and Vermont Family Apartments, among others. (See resume at Ap- pendix 11.) Architect References Corporation for Better Housing Landscape Architect Mark Tessier Landscape Architec- ture, Inc. 1424 4th Street, Suite 234 Santa Monica, CA 90401 P 310-395-3595 . f 310-496-0273 mark@marktessier.com Mark Tessier Landscape Architec- ture is a design firm with a focus on innovation in the design of exterior spaces. Owner and Principal, Mark Tessier, ASLA, has over 20 years of experience in the fields of Land- scape Architecture, planning and, garden design. Before opening this office in 2004, Mark spent the previ- ous 10 years at Rios Associates in Los Angeles, where he. was Senior Associate of the Landscape Archi- tecture Studio. His cumulative ex- perience with municipal, corporate and residential projects guides his firm's creative approach to design solutions. Landscape References John Cotton Architects 3816 Main Street Culver City, CA 90232 P 310-558-8616 F 310-558-8676 ; icotton@iohncottonarch.com Prantis Solares Studio Richard Prantis AIA, LED AP 1657 Alvira Street, 2nd Floor Los Angeles, CA 90035 P 323-954-9996 x222 F 323-954-9997 rl2rantis@ PS LA RCH ITECTS.COM Sustainability. Engineer Green Dinosaur Jason Lorcher 1501 Main Street, Suite 204 Venice, CA 90291 P 213-455-331 1 F 213-221-4733 Jason@greendinosaur.com Green dinosaur was founded in 2007 and between its principals offers over 35 years of combined, multi -disciplinary experience in the design and Construction industry. Green dinosaur is proud to have shared in the success of numerous green building and development projects across a. broad spectrum of project types, climatic regions, and rating systems. Green dino- saur is an interdisciplinary firm offer- ing a full range of services for the delivery of highly efficient, environ- mentally responsible buildings and developments. Green dinosaur's dynamic team includes engineers, architects, and green services con- sultants with expertise in energy modeling, climate responsive anal- ysis, envelope design and optimiza- tion, daylighting,; carbon neutral targeting, renewable resources, greenhouse gas emission inventory, rating system consulting, and com- missioning. (See resume at Appen- dix 12.) Green References CSU Fullerton Mike Byrne, Project Executive 468 N. Rosemead Blvd. City of Vernon 4304 Santa Fe Avenue Vernon CA 90058 SECTION III PROPOSAL Request for Proposal 52nd Drive Housing Development - In accordance with your "Request for Proposal," the following proposal is submitted to the City of Vernon. Proposal Submitted By: Name of Company Meta Housing Corporation Address 1640 S. Sepulveda Boulevard, Suite 425 City/State/Zip Code Los Angeles, CA 90041 Printed Name/Title John M. Huskey, President Telephone Number/Fax Number 310-575-3543 / 310-575-3563 Form of Business Organization: Please indicate the following (check one): Corporation X Partnership Sole proprietorship Business History: - How long have you been in business under your current name and form of business organization? 20 Years If less than three (3) years and your company was in business under a different name, what was that name? Not Applicable Contact for Additional Information: Please provide the name of the individual at your company to contact for any additional information: Name Chris Maffris Title Vice President Telephone Number 310-575-3543 ext 108 Addenda Received: Addendum No. 1 Date Received: April 2012 Payment Terms: Are you proposing any discounts for early payments? Yes No X. If yes, what are discounted invoice terms? Not Applicable What is the lead time for delivery? - Competitive tax credits are not certain. Nine percent credits are allocated on a competitive basis so that those meeting the highest housing priorities and public policy objectives have first. access to credits. For that reason, a point and tie -breaker system is used to rank applications. Although it is somewhat compli- cated by the overlay of statutory set -asides and geographical apportionments, the basic, point structure - advantages applications that are most cost efficient and most effectively leverage public and some pri vote funds. Based on our extensive analysis, we are confident that a project with a tie -breaker of approxi- mately 30.012% is a competitive. The timeline below assumes we will win the March 2013 competitive tax credit round. PROPOSAL FOR CITYOF,,VERNON 52ND DRIVE HOUSING DEVELOPMENT Appendix 1'Tenant Lottery I -- L` ." Certlf�cdte of Occupancy (or Temp) Placed In Service Apr112015 f Mqy 2015 ,l � June 2015 - -- __ References: (See pages 4-9) - Jenny Scanlin Regional Administrator - Christine A. Shingleton Los Angeles Housing CRA/LA City of Tustin Department 354 S. Spring Street Assistant City Manager Tim.Elliott Suite 300 300 Centennial Way 1200 West 7th Street, 8th Floor Los Angeles, CA 90013 Tustin, CA 92780 Los Angeles CA 90017 P: 213-977-1710 P: 714-573-3107 P: 213-808 8596 iscanlin@cra.lacity orr- cshingif6n@tusfinca.org TElliott@land lacity or -a Costs 777USES .> 5 CNSTkf1Cs,Tl:, N,SOIIk,C,S' Land $ 1,700,000 $ 47,222 1st Construction Loan Acquisition Costs $ 75,000 $ 2,083 $ 7,500,000 Donated Land —Vernon 208,333 Architecture/Engineering $ 725,000 $ 20,139 $ 1,700,000 $ Additional City Contribution 47,222 Impact Fees $ 204,000 $ 5,667 $ 500,000 $ Tax Credit Equity : 13,889 - Const. Loan Interest $ 132,813 $ 3,689 $ 1;504,672 $ Deferred Costs 41,796 Other So ft Costs $ 1,631,581 $ 45,322 $ 585,190 $ 16,255 - Offsites $ 162,478 $ 4,513 Hard Costs $ 5,948,990 $ 165,250 _... Dev. Fee $ 1,210,000 $ 33,611 , PER�Uf�%�NENT SuOURC�S` � .,>,. �- BydgetPer Unit 1st Permanent Loan $ 1,843,000 $ 51,194 Donated Land —Vernon $ 1,700,000 $ 47 ,222 Additional City Contribution $ 500,000 $ ,222 889 Tax Credit Equity $ 7,523,358 $ 208,982 Deferred Dev. Fee $ 223,504 $ 6 208 TOTAL SOURCES 52nd Drive Housing Development July 11, 2012 Page 2 b. The Permanent Loan amount shall be the least of the following: (1) $1,843,000 - (2) Eighty percent (80%) of the appropriate appraised value (as defined by Bank) of the Property, based upon an appraisal acceptable to Bank in Bank's sole discretion. The appropriate appraised value is anticipated to be based on the stabilized unrestricted market value, assuming a three (3) year conversion to market rents as permitted by the Internal Revenue Code for tax credit projects, and assuming all liens and deed restrictions imposing tenant income or affordability restrictions and the like ` `are subordinated to the Permanent Loan: (3) That amount for. which the Property generates annual net - operating income after expenses and reserves (as determined by Bank) equal, to at least one hundred fifteen percent (115%) of the aggregate annual debt service on the Permanent Loan and all other encumbrances on the Property, as calculated by Bank at time of conversion. 2. PuU2Ose. The purpose of the Loan is to provide for the acquisition and new construction of the improvements ("Improvements") and long-term financing for a 36-unit affordable, multifamily housing project ("Project"). Within the Project, there will be: 4 one - bedroom units, 16 two -bedroom units, 15 three -bedroom units and 1 three -bedroom manager's unit, all with the exception of the manager's unit affordable to tenants with incomes of no more than 60% of area median income ("AMI"), and other Project features and amenities as described in the funding application for the Project. 3. Loan Terms. The interest rate, repayment formula and other terms of the Loan shall be as outlined in Exhibit A attached to this letter, subject to the precise terms and conditions of Bank's loan documents evidencing and securing that type of loan ("Loan Documents"). The terms of the Loans may be different from or in addition to those stated herein, based on the results of Bank's review of the information furnished or to be furnished by or on behalf of Borrower in connection with Bank's underwriting of the Loan. 4. Junior Financing. Any junior financing to the extent not specifically described as to source and terms in this letter will be subject to Bank's approval in Bank's sole discretion and must be committed prior to closingof the Loan. - 5. Equity Contribution. The following equity contribution is contemplated for the Project: a. There will be a total equity contribution in the estimated amount of $7,523,358 .("Equity Contribution") from Investor, based upon an award of 9% Federal tax credits in the amount of $744,887 per year for ten years ("Tax Credits") by the Tax Credit Allocation Committee of. the State of California ("TCAC") with respect to the Project. The terms of Borrower's final partnership or operating agreement ("Formation Agreement"), including, without limitation, the amounts, terms and conditions of the Equity Contribution to be 52nd Drive Housing Development July 11, 2012 - Page 3 made by the Investor, are subject to Bank's approval in Bank's sole discretion.. The Formation Agreement must be executed in final form with Bank's approval, and the Borrower must be formed and in good standing under the laws of the State of California, prior to the closing of the Loan. . _. 6. Loan Documents. The Loan, will be evidenced by a -promissory note; the .Loan will be secured by a first leasehold deed of trust encumbering leasehold interest in the Property, including an assignment of rents and leases and a security agreement; the Loan will be further evidenced and secured by documents with respect to the Construction Loan as described below; assignments of all plans, contracts and permit rights relating to the Project; a financing statement; and such other documents and agreements as Bank may require; all of which documents and agreements are to be on forms prescribed by Bank or Bank's counsel. If required by Bank, the Loan shall, also be secured by an assignment of all general partnership interests in Borrower and such other documents as Bank may require in order to obtain an assignment satisfactory to Bank of the Borrower's and of the General Partner's rights to the Investor's capital contribution to Bank as security. J. 7. Tax and Insurance Impounds. Unless waived by Bank, during the Permanent Loan, Borrower shall establish with Bank one or more non -interest bearing impound accounts for the payment of real property taxes and assessments and insurance premiums with respect to the Property, to be in accordance with Bank's requirements for such accounts. 8. Construction Loan Closing. Borrower, must obtain or satisfy the following, among other things, with respect to the Construction Loan prior to Construction Loan closing (with Bank's approval or satisfaction to be in Bank's sole discretion): a. All fees required by Bank shall have been paid, or will be paid concurrently with the Construction Loan closing., b. Bank's approval. of final plans and specifications; soils reports, engineering reports, environmental reports; surveys and the like with respect to the Property and the Project, as approved by the local governmental authority having jurisdiction over the Project. C. Building and all other required permits for construction or renovation, as the case may be, of the Improvements, or proof acceptable to Bank that permits are - available subject only to the payment of permit fees. d. Bank's approval of a construction cost breakdown in a format acceptable to Bank with respect to the construction or .renovation, as the case may be; of the Improvements, covering the costs of developing, building, leasing, managing and carrying the Project until Permanent Loan conversion. e. Bank's approval of contracts from an architect, an engineer, a general contractor and major subcontractors as Bank may require. 52nd Drive Housing Development July 11, 2012 Page 4 £ Bank's approval of the sources and uses of funds with respect to the Project. g. Borrower must deposit into a non -interest bearing loans -in -process type account with Bank, or otherwise secure to Bank's satisfaction, any amounts by which the costs of construction or renovation with respect to the Project exceed the amount of the Construction Loan allocated for such purposes: -- h. Borrower must obtain and a premiums for full pay p performance bonds and payment bonds acceptable to Bank; builder's risk and course of construction insurance; title insurance and all other insurance and bonds as required by Bank; from carriers or bonding companies approved by Bank. i. Borrower must sign Bank's Construction and Permanent -Loan Agreement and ancillary documents with respect to the Construction Loan, providing for, among other things, disbursements of Loan proceeds according to Bank's disbursement system, and a ten percent 10% retention on hard costs until, among other things, a lien free title endorsement or title policy rewrite has been issued. - j Such additional items with respect to the Construction Loan as Bank may require. 9. Permanent Loan Closing. Borrower must obtain or satisfy the following, among other things, prior to conversion of the Construction Loan to the Permanent Loan (with Bank's approval or satisfaction to be in Bank's sole discretion): a. All fees required by Bank shall have been paid: b. Borrower shall have received all applicable portions of the Equity Contribution in accordance with Borrower's Formation Agreement as approved by Bank. C. Any excess balance of the Construction Loan shall have been paid down to the Permanent Loan amount as approved by Bank at the time of conversion. d. A final unconditional Certificate of Occupancy shall have been issued, and a. valid Notice of Completion must have been recorded with respect to the Improvements. e. At least ninety percent (90%) of the residential units on the Property must be occupied at the scheduled rents previously approved by Bank, for a continuous period of ninety days. f. Bank shall have received a lien free title endorsement or title policy rewrite insuring lien -free completion of the construction/rehabilitation of the Improvements. 52nd Drive Housing Development July 11, 2012 Page 5 g. Bank shall have received an updated appraisal, in form and substance acceptable to Bank, at Borrower's cost, in order to determine the current value of the Property, if required by Bank. h. Bank shall have received such rent rolls and operating statements with respect to the Property as Bank requires in order to determine (in Bank's sole discretion) the projected annual net operating income for the Project: Borrower shall have established and initially funded replacement reserves as per the Replacement Reserve Agreement required by Bank. These reserves are to be $250 per unit per year if a new construction project. j. No material default shall exist under the Construction Loan. or under any other obligation of Borrower. 10. Opinion of Borrower's and Agency's Counsel. As a condition to closing of the Loans, Bank must receive a written opinion from Borrower's counsel, which counsel and opinion must be satisfactory to Bank and Bank's counsel, to the effect that, among other things, (a) Borrower and each of Borrower's general partners or members are validly formed and existing and have the authority to consummate the Loan; (b) the documents evidencing and securing the Loan are valid and enforceable in accordance with their terms, subject only to bankruptcy and any other customary exceptions; (c) any consents which are required in connection with the Loan have been obtained; (d) there are no proceedings pending or threatened against Borrower, or any general partner or member of Borrower, if any, or the Property, which would impair the Property or Borrower's or any general partner's or member's ability to enter into or perform under the documents evidencing and securing the Loan; and (e) such other customary matters as Bank or Bank's counsel may require. In addition, to the extent Borrower's counsel has provided other parties, -including but not limited to; any Investor and any governmental authorities, with any legal opinions concerning the Tax Credits for the Project, then Borrower's counsel shall incorporate such opinions in its legal opinion to Bank or separately issue such opinions to Bank, 11. Nonrecourse. The documents evidencing the Loan will include a provision to the effect that, upon conversion to the Permanent Loan, and subject to Bank's customary carveouts, in the event of default as to payment of principal or interest, Bank's sole recourse will be to the security for the Loan, and not to Borrower. 12. Guarantees. Meta Housing Corporation (the "Guarantor"), will provide completion and repayment guarantees of the. Loan, on Bank's form, to be released upon conversion to Permanent Loan. 13. Contractor's Bonds. The Project contractor must be bondable for the full amount of the general contact, and must provide full performance and payment bonds for the work covered by the general contract. 14. Completed Application. Borrower's application for the Loan must contain 52nd Drive Housing Development July 11, 2012 Page 6 all information requested by Bank. Bank reserves the right to require Borrower to provide any additional information that Bank deems necessary as part of Bank's underwriting process. If Borrower has applied for the full 25 points ' on the. TCAC application under "Readiness to Proceed" (Reg. Section 10325(c)(9)), any missing items from the Bank's application package must be provided to Bank no later than 20 days after a preliminary reservation of the Tax Credits (herein defined as `Bank's Deadline"). Borrower shall inform Bank immediately upon receipt of TCAC's Preliminary Reservation Letter. Borrower's application for the Loan must contain all -- - information requested by Bank. Bank reserves the right to require Borrower to provide any additional information that Bank deems necessary as part of Bank's underwriting process. 15. Loan Fees. See the attached Exhibit A. 16. Other Fees and Costs. Borrower must pay such other fees incurred by Bank, including, without limitation, appraisal, appraisal review, environmental consulting and review, cost engineering and plan review, draw administration/inspection fees, processing, title and attorney's fees, at such times and in such amounts as Bank may require in connection with the processing, documentation, closing and disbursement of the Loan. Bank shall not be obligated to pay, and Borrower shall hold Bank harmless from, and indemnify Bank against, any closing costs in connection with the Loan. Certain costs to be paid by Borrower are identified in the Application Fee Agreement, attached as Exhibit B hereto. 17. Brokers. Borrower shall indemnify Bank and hold Bank harmless from and against any claim for payment of a broker's fee, finder's fee or consultant's fee in connection with the placement of the Loan. 18. Final Ap roval. Borrower's request for credit from Bank is subject to approval, in their sole discretion, by Bank's appropriate credit officers or committees, who may consider, without limitation, the financial condition of and management ability of Borrower, General Partner(s), Member(s), Guarantor(s), Investor and Borrower's general contractor for the Project, economic and physical feasibility of the Project, sufficiency of Project net cash flow to cover debt service, additional sources of financing and equity funding for the Project, credit histories, title matters, and such other matters as Bank may determine. Borrower's request is also subject to compliance with laws and regulations applicable to Bank. 52nd Drive Housing Development July 11, 2012 Page 8 EXHIBIT A SUMMARY OF LOAN TERMS *These terms are subiect to adjustment by Bank if Loan has not closed within 180 days after date of TCAC Award - Construction Loan - - ,- - Rate: The applicable interest rate for the Construction Loan shall be one -month LIBOR plus 2.50%, adjusted monthly on a 360 day basis. (Please note that credit markets are highly volatile. Loan fees and interest rates are subject to adjustment based on the volatility of the markets prior to commitment.) Monthly Payment: Interest only on funds as disbursed until maturity. Maturity: Twenty Four (24) months, subject to any extension option. Origination Fee: 75 bps of the Construction Loan amount, due at recordation of Construction Loan. - Extensions: Subject to satisfaction of terms and conditions, one (1) extension options shall be available for six (6) months. - Prepayment Fee: None. Assumption/Transfer: Not permitted. Bank's due on transfer clause applies. 52nd Drive Housing Development July 11, 2012 Page 10 Exhibit B TCAC APPLICATION FEE AGREEMENT This Application Fee Agreement ("Agreement") is considered to be an addendum to the TCAC Commitment Letter ("Letter") issued to be determined partnership, a California limited partnership for 52nd Drive Housing Development July 11, 2012. The Agreement and the Letter are to be read together and considered as one document. . In order for Lender to explore further the possibility of providing financing, Lender requires Borrower's payment of certain fees and deposits as specified in this Agreement. Therefore, Borrower and Lender agree as follows: 1. Completed Application and Payment of Fees. Borrower's application for the Loan must contain all information requested by Lender. If Lender has not received a completed application for the Loan, and payment of all fees and deposits required in this Letter, - by the earlier of (the "Expiration Date'): a) September 30, 2012, or b) the Lender's Deadline Lender shall have no further liability or obligation to Borrower with respect to processing Borrower's application. Lender reserves the right to require Borrower to provide any additional information that Lender deems necessary as part of Lender's underwriting process. 2. Other Fees. Borrower must pay such other fees, including, without limitation, appraisal, appraisal review, environmental consulting and review, cost engineering and plan review, draw administration/inspection fees, processing, title and attorney's fees, at such - - times and in such amounts as Lender may require in connection withthe processing, documentation, closing, and disbursement of the Loan. Lender shall not be obligated to pay, and Borrower shall hold Lender harmless from, and indemnify Lender against, any closing costs in connection with the Loan. Without limiting the generality of the foregoing, Borrower must pay to Lender, no later than the Expiration Date, the following: a. I A nonrefundable Appraisal DePosit in the amount of $7,000 for the cost of an appraisal and appraisal review of the Property. If the actual cost thereof is more than the amount paid by Borrower, then Borrower agrees to pay to Lender such increased cost upon request. If Lender's actual appraisal expenses are less than the amount paid by Borrower, then Lender shall apply the difference as a credit toward the Construction Loan Fee if the Construction Loan closes. The full cost of the appraisal and appraisal. review must be paid prior to the Lender's engagement of the appraiser. NOTE: Lender will order its own Appraisals. b. A nonrefundable Legal Deposit in the amount of $25,000 for legal expenses incurred by Lender in connection with the Loan. If Lender's actual legal expenses are more than the amount paid by Borrower, then Borrower agrees to pay to Lender such increased amount upon request. If Lender's actual legal expenses are less than the amount paid by 52nd Drive l-lousrng C)cvelopment July It, 2012 Page I Borrower; th4n'l endct shall apply the diPl rence a,r a credit toward the. C.'onsauction Loan Fee if the Construction l,aan close;< c:. A nonrefitndablc host Engineering lace of 151100 Im th pps,( of cost engincerhig and construction review services. if'the Lender's co. Mginoeiringr ex er ses are more than the amotuit paid by Borrower, then B-orrower agrees to, pay to LIencler Sucih inerc.ased amount upon request, - d. A nonrefundable 1- nvkonmental Assessnjeri_V e.y ew, Fee of 10 __- (per site) for the cost.ot' Lender's (or e, gder's Consultant's) review of environmental aSsessillont' reports, asbestos acid lead -based paint Sampling reports„ abatement wuik :spccilica oos, abatement and monitoiing contracts, and close -taut reports, as :applicable, ll'the" Lenders actual environmental assessment/review expanses are more than the amountpaid by Borrorwer, then Borrower agrees to pay to Lender such increased amount upon. requci t. NOTF4. Lender requires that the Borrower` order its environmental assessnieint reports from licensed environmental consultants on the Lender's approved list, and that lhO reports be prepared according to standards that will be provided bylowlvtoHoeover, Outside >Jnv"rrooMental Assessment Surveys may be reviewed for ace6p' tability and use, if they are less than six months old. If aceeptoble to.Lender•'s environmental eonsullunt, they may be used in lieu of a new report. Borrower acknowledges; that 'the Gender's Environmental Assessment/Review, Fee is to cover Lender'sreview-, of th'e "Morro ver's reports ,only, and does not cover the actual cost of any of the reports. Borrower will be directly responsible for orderina'and p- aXj4 W its own reports. 4. Total Fees/Deposits: Borrower must remit a check..ro .'?ice, representing the total Of'the- fees/depas,iti.gtroted above, prior to the l xpiratie" Date. UNDERSTOOD AND AORFED= To be det� rr-nined partnership., a Califortlici`'Iitxtited partnership By: Mota f ousing C'orporatiota By: - y. Ja M. Huskey," ivlanaget" i M .0 Ile Coulter Frgm: Ferguson, Gina cGina.Ferguson@.treasurenga,gou Se,Ints monday; July 0: , 2012 5;1:1 'PM To,:_ . M,iphe{le CRoiter� ; Subact* FW;.Appraisals of Land in. Gity"of Vernon -All Industrial Zoning Hi Michelle; My apologies for not,sendingthio yows ell. Gina; From,. Ferguson, Gina - 1, 1 .Wdayj, my 09, 2012 5:03=PM To: 'Chris" Maffris" CM ZEfiS,.Anthony;_WAEGELL, hack Subject: k,ft Appraisals of Land in _City of Uernon - AIh Industrial Zoning Hello Chris, I asked for;sarrie clarification on your question; ,please see the fbllpw.ing'for"the guJdance.l rcelVed:> TCAC regulations require that the highest and "best use for appraisal purrposes is to be residential (Section 1022(i)(4)(A)). It is my understanding tha 'the a real estate appra,iserdetermines the highest and best.use. based} on USPAP.standards and guidelines, and that the current zoning % taken "into account when making this determination. TCAC would expect any comparables to beresiclential use,, not industrial -sites. We" understand that these comparables, by necessity, would be,in.other nearby jurisdiction"s. Please;repl.y-with"any other questions, Gina: suobjscx: FTIV: Appraisals of Land in City, of 1/ernon All.`zndustrial zoning Hi Gina; hope all is we 1. (,know you guys are summed with the 9/ 00catjon rneet "ng.corrfing upon Wedne.sday;:but nte're trying to get a,n answer to the below inquiry prior to.submittin$ an RFP resportse.to the,.�ity of Vernon due this Thursday: It's an important question it somewhatAictates how, much moneywe, need as ask for from the;City. PROPOSAL FO.R CITX'OF VERNON 52ND DR[ E;H.OUSIN.,416 ELOPM�NT -_ appendix 6_ Was hoping I could get your help tracking down the answer. Thanks again! Chris Christopher Maffris, Vice President META HOUSING CORPORATION 1640 Sepulveda Blvd., Suite 425 Los Angeles, CA 90025 T. (310) 575-3543 ext.108 F. (310) 575-3563 Email: cmaffrisna metahousine.com Website: www.metahousine.com From: Michelle Coulter Sent: Tuesday, July 03, 2012 4:53 PM To: 'azeto@treasurer.ca.gov' Subject: FW: Appraisals of Land in City of Vernon - All Industrial Zoning Hi Anthony; just discovered that Jack is out of town until mid -month. I wonder if in the meantime, you could answer the question below about an Appraisal for land.in Vernon. Thank you; Michelle Espinosa Coulter Meta Housing Corporation 310-575-3543 x 127 From: Michelle Coulter Sent: Tuesday, June 26, 2012 1:27 PM To: jwaeaellCabtreasurer.ca.q_ Subject: Appraisals of Land in City of Vernon - All Industrial Zoning Hi Jack, I have an interesting question about appraising a property in the City of Vernon as "residential rental property" (per 1032(i)(4)(A)); when the City is zoned entirely "General Industry." -- Background: Per the City of Vernon's General Plan and Zoning, only "General industry' can be developed there. However, the City of Vernon has been compelled by the State Legislature to build a multifamily housing project that will increase their voter base (from approximately 100 residents). This housing development is unique; no additional housing will be built in the City of Vernon in the foreseeable future. To accomplish this, the City is donating 2.06 acres of industrial land, for which the developer has to secure a Zone Change and General Plan. Amendment. The City asserts ,that the value of the donation to them is its highest and best use as an Industrial Property. They back this with the fact that the City of Vernon is entirely built out, so land only becomes available when it is purchased by the City and -- decommissioned as an industrial site. (The City purchased the land many years ago and has been working on environmental remediation since.) However, Valuation as an Industrial Site contradicts the guidance provided in CTCAC Reg Section (per 1032(i)(4)(A)), which states that the highest and best use value of a project should be based on its use as residential rental property. 2 }Rhea K L4, i, SviAl filar! ra J Lambe - Lea Associates ,�,��,� ��,��I �� 1 �� Propetty EC,0110; iC8 Susan 0. Gordon )deterK Alviruz, June 26,.2011, Mr. Christoplier Moffris Ite:Appraisal Report; vice President 2.06 ACres.oflndustral Land Meta Mousing Corporation 46U'1 E. 52"d Street 1640 Sepulveda Boulevard, Suite 425 'Vernon, California 9.005'$ - Los Angeles, California 90025 APN: 6 14-D(12,Y900. !portion} (LotNos. 45�53, Tract 7923)' Job No. 4033 Dear Mi. Maffris: Tiltsis a Restricted [Jse Appraisal Forth under Standards Rule:1-2c A Restricted Appraisal Report, _ were used in the appraisal process Report which is intended to comply with the reporting requirements set oFthe LJniforni Stast¢Ards of Professional Appraisal Practlee (1JSPAP) for As such; it'presents no discussions of the data, reasoning and analyses that to develop the appraiser's opinion of value. Supparting documentation concerning clie-data, reasoning;atid "- as discussed below and the depth and for the intended use stated,below. Purpdse of the analysts is retained in the appraiser's ale, The scope of Work is limited of..diseussion contained in this report is specific to the needs of the client ,The appraisor is,notresponsible `for unauthorized use of this report. To, estimateia,_probable. range of market value of the above= - Appraisal referenced property, es zoned'lodustr-ial (current zoning) andas,. zoned`for multi -family residential userat a density of 15 to,20 dwellingunits per acre (hypothetical condition). - Intended Use of For tine purpose of assisting the client in tlteir internal dtcision-Making, Report and propasal,to the, property owner to,potentially develop the subject property. -- Interest Valued Fec'sintple Effective Dnte of Value June 26, 20` 2 Date of Report June 26, 2012 _. .....- - Lea Associat"i Inc. ` - I'ea�ei`ly Lgi�noniics 1635 Ilontlos ANenu L os Angelm California 9W2 } - Telephone (310) 4177-6.595 F"Ix WO) 914 40249 - lTFina9i: in€ci�te�as�ac:ct+m' PRQP.OSAL'FOR CITY';OF VERNON 52ND DRIVE' HOUSING DEVELOPMENT ,' Appendix�,7 Appraisal: Development (Scope of Work) In preparing this appraisal, we have not completed an on -site inspection of the subject.site. We have not conducted the usual due and Reporting Process diligence regarding investigating the subjectsite, relying instead upon the information provided to us by Meta Housing Corporation (the client). We utilized appropriate unit rates (price psf of land area and price per unit) comparing such factors as lot size, surrounding uses, date of sale, entitlement, site shape, density, and location. We utilized only the Sales Comparison Approach, to value which compares and contrasts substitute properties to the subject property. The analysis - - Was limited, however, withoutresearchingor verifying the sale comparables selected. We did not view the sale comparables; This Restricted Use Appraisal Report sets forth only the appraiser's - conclusions. Supporting documentation is retained in the appraiser's file. Real Estate Appraised One vacant land parcel situated on the northeast side of East 52"1 Drive - East of Atlantic Boulevard 4601 E. 52"d Drive Vernon, California Portion of Assessors Parcel No.'6314-002-900 (Los Nos. 45-53, Tract No. 7923, M.B. 113-80-83) Site Area 2.06t acres (89,734f square feet) Improvements The property is vacant land Zone General Industry I -zone; General Plan Designation: Industrial Highest and Best Use "As Though Vacant" Assuming development is legally permissible, the maximally, - --.. productive use is for industrial (given the residential density assumed in this assignment). "As Improved" Not applicable (vacant land) Concluded Market Value As currently zoned (industrial): $2,200,000 to $2,900,000 (Probable Range and Mid -point: $2,550,000 Midpoint) As zoned for multi -family residential use at a density of 15 to 20 / dwelling units per acre (hypothetical condition): $1,400,000 to $2,000,000 Mid -point: $1,700,000 2 The following are specific Limiting Conditions and Assumptions related to our value opinion and analyses contained herein. Further, this report is restricted and reliance on this report is intended for the client and cannot be understood properly without additional information contained in the workpapers of the appraiser. In addition, this report and its valuation is subject to the following specific conditions. We have not received a title report or policy for the subject property. Further, while we have not reviewed an environmental assessment or soils reports for the subject property, the client has provided us with a Request for Proposal from the City of Vernon regarding the subject site. The, concluded opinions of value assume the site is free and clear of any environmental contamination. It is also our assumption that the soils are adequate to support appropriate development of the site being free and clear of nearby groundwater problems reportedly encountered.. Our report is subject to review upon receipt of the specified documents. Thank you for the opportunity to serve your real property analysis needs. Respectfully submitted, LEA ASSOCIATES, INC. 14 John J. Gobbell, Jr., MAI CA# AGO10590 - 3 CERTIFICATION AND RESTRICTION UPON DISCLOSURE AND USE I certify that, to the best of my knowledge and belief, . . The statements of fact contained in this report are true and correct. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. I have no (or the specified) present or prospective interest in the property that is the subject of this report, and no (or the specified) personal interest with respect to the parties involved. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. My engagement in this assignment was not contingent upon developing or reporting predetermined results. My compensation for completing this assignment was not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. I have performed no (or the specified) other services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. The reported analyses, opinions, and conclusions -were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics & Standards of Professional Appraisal Practice of the Appraisal Institute, which includes the Uniform Standards of Professional Appraisal Practice (USPAP) of the Appraisal Foundation. No one has provided significant real property appraisal assistance to the person signing this certification with data collection. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. As of the date of this report, Robert M. Lea, MAI, and John J. Gobbell, Jr., MAI have completed the continuing education program of the Appraisal Institute. As of the date of this report, Robert M. Lea, MAI (No. AG003090), John J. Gobbell, Jr., MAI (No. AGO10590), and Jerardo Arciniega (No. AG042445) have satisfied the requirements as Certified General Real Estate Appraisers, licensed by the State of California. I have made a personal inspection of the property that is the subject of this report. I have not made a pers nal inspe n of t property that is the subject of this report. CA# A6010590 4 CONTINGENT AND LIMITING CONDITIONS UPON WHICH APPRAISAL IS MADE This letter is made expressly subject to the contingent and limiting conditions, factors and assumptions herewith: 1. . That the vesting and legal description furnished this appraiser are correct. 2. That measurements and areas furnished by others are correct. No survey has been made for the purpose of this appraisal. 3. That the property is appraised as if free and clear of liens and that the title is good and merchantable. 4. That no guarantee is made as to the correctness of estimates or opinions furnished by others which have been used in making this appraisal. 5. That no liabilities be assumed on account of inaccuracies in such estimates or opinions. --_- 6. That no liability is assumed on account of matters of a legal nature, affecting this properly, such as title defects, liens, encroachments, overlapping boundaries, etc. 7. That this appraisal is subject to review upon presentation of data which might be later made available, undisclosed or not available at this writing. 8. That the appraiser herein, by reason of this appraisal, is not required to give testimony or attendance in court or any governmental hearing with reference to the property in question, unless arrangements have previously been made therefore. 9. That the maps and exhibits found in this report are provided for reader reference purposes only. No guarantee as to accuracy is expressed or implied.' 10. That no liability is assumed on account of the existence of hazardous material or toxic waste on the subject property. 11. That no liability is assumed for specific compliance with the requirements of the Americans with Disabilities Act (ADA). S :*, �,; `^;;!: it '..� �`wPr.,zr. 13/12 RealQuest.com ® - Report Property Detail Report CoreLogic For Property Located At RealQUest Professional 4601 E 52ND DR, VERNON, CA 90058 ]Owner information: _ Owner Name: VERNON CITY - i Mailing Address: 4305 S SANTA FE AVE, VERNON CA 90058-1714 C034 ! Phone Number: Vesting Codes: 1/ (: Location Information: i Legal Description: TR=7923 LOTS 45 THRU 56 county-,LOS ANGLES, CA APN: 6314-002-900 I Census Tract/Block: 5323.04 / 2 Alternate APN: Township -Range -Sect: Subdivision: 7923 Legal Book/Page: 113.80 Map Reference: 1675-E5 j .Legal Lot: 45 Tract#: 7923 44� Legal Block: School District: LOS ANGELES Market Area: Munic/Towns.hip: Neighbor Code: Owner Transfer Information: Recording/Sale Date: 12/0712005111/2112005 i Deed Type: GRANT DEED Sale Price: 1st Ng Document.#: Document#: 2991710 Last Market Sale Information: Recording/Sale Date: 11/18/1998 / 11/12/1998 1st Ng Amount/Type: Sale Pricer 1 st Ift Int. Rate/Type: / Sale Type: 1st'Mtg Document#: y Documentm 2108532 2nd KgAmount/Type: / Deed Type: GRANT DEED 2nd Mg Int.Rate/Type: a Transfer Document#: Price Per SgFt: - E New Construction: Title Company Multi/Split Sale: MULTIPLE f _ Lender: Seller Name: NI INDUSTRIES INC I Prior Sale Information: Prior Rec/Sale Date: / . Prior Lender: Prior Sale Price: Prior 1 st Ng Amt/Type`. l Prior Doc Number: Prior.1 st Mg Rate/Type: Prior Deed Type: Property Characteristics: j Year Built / Eff: 1962 / 1962 TO RRooms/Offices:: Garage Area: I Gross Area: 103,209 Total Restrooms: Garage Capacity Building Area: 103,209 Roof Type: Parking Spaces: Tot Adj Area: Roof Material: Heat Type: Above Grade: Construction: Air Cond: # of Stories: Foundation: Pool: Other lmproverrtents: Exterior Quality Basement Area: Condition: i 1 Site Information: Zoning: VEM* Acres: HEAVY 2.73 County Use: MANUFACTURING i (3200) Lot Area: 118,791 LotWidth/Depth: x State Use: HEAVY Water Type: l I INDUSTRIAL j Site Influence: Sewer Type: Building Class: Tax Information: '13112 RealQuest.com ® -Report .I Total Value: $1,260,259 Land Value: $1,260,259 Assessed Year: 2011 Property Tax Improved %: Improvement Value ' TaxArea: 10718 i Tax Year: Tax Exemption: ..; i Total Taxable Value: $1,260,259 . F; JOHN J. GOBBELL, JR., MAI EXPERIENCE Lea Associates, Inc.,1999 - Present; Principal responsible for the analysis and production of appraisal assignments and various analytical services. Responsibilities also include providing proposals and accepting assignments on the company's behalf. Serves in a supervisory or project management capacity on numerous appraisal assignments as well as participating in company management decisions. Appraisal experience includes a wide variety of proposed and, existing property types. including commercial retail and office, industrial, single and multiple residential, acreage, residential subdivisions, and special purpose properties. Specific areas of concentration also include eminent domain/acquisition appraisals, rent studies, land lease re -settings and partial interest valuations. Primary market is Southern California but has also completed assignments in Central and Northern California, Alaska, Arizona and Nevada. Gobbell and Company - 1992 to 1999; President with full responsibility for research, analysis, and production of narrative appraisals for various commercial, industrial, special purpose and residential - - properties, including subdivision and multiple family housing. West Associates/Taran. tello & Associates -1989 to 1992; Senior Consultant responsible for research, analysis, and production of narrative appraisals for various commercial, industrial, special purpose and residential properties, including subdivision and multiple -family housing. EDUCATION University of Southern Cali fornia,'Economics,1988 Successful completion of various courses and examinations including the following: • Advanced Income Capitalization (510), Appraisal Institute Highest & Best Use and Market Analysis (520), Appraisal Institute (Exam only) Advanced Sales Comparison & Cost Approaches (530), Appraisal Institute (Exam only) Report Writing and Valuation Analysis (540), Appraisal Institute Advanced. Applications (550), Appraisal Institute Standards of Professional Practice, Parts A & B (410 & 420), Appraisal Institute Multiple National USPAP Update courses, Appraisal Institute Business Practices & Ethics, Appraisal Institute Curriculum Overview (Residential & General), Appraisal Institute Real Estate Principals., Real Estate Appraisal,, and The Analytical Tools of Real Estate Research, University of California Los Angeles Extension Comprehensive Exam, Appraisal Institute Lea Associates, Inc., 1635 Pontius Avenue, Los Angeles, CA 90025 (310) 477-6595 phone (310) 914-0249 facsimile JgobbellP,1eaassoc.com E-mail - ruditc Alameda Corridor Transportation Authority City of Palmdale Castaic Lake Water Agency City of Pasadena City of Alhambra City of Riverside City of Baldwin Park City of Santa Monica City of Brea City of Temecula Cityof Commerce City of Thousand Oaks City of Culver City County of Los Angeles, City of Fountain Valley City of Glendale Community Development Commission City of Goleta (CDC) City of Hawthorne Metropolitan Transportation Authority City of Huntington Beach (MTA) City of Lancaster County of Riverside City of Long Beach County of San Bernardino City of Los Angeles Los Angeles World Airports (LAWA) Crnrmnnity RerlevelnnmPnt AaPnry (C R Al r - A .....tee 7 T-:.V- 7 ruotic (Cont'd Metropolitan Water District of Southern United States Department of Labor, (DOL) California (MWD) United States General Services Mountains Recreation and Conservation Administration (GSA) Authority (MRCA) State of California, Department of Transportation (Caltrans) Financial Institutions Bank Leumi Holliday Fenoglio Fowler Bank of America Preferred Bank Bank of Los Angeles Private Bank of California Bank of Montreal Rock Island Company Bankers Capital Sigma Mortgage Corporation Continental Bank Wells Fargo Bank First interstate Bank First Los Angeles Bank Hanmi Bank Heritage Oaks, Bank C or orate American Tower Meta Housing Corporation The Anden Gro up Brimar Industries Mulholland HHis Associates Overland, Pacific & Cutler, Inc. Cassidy Turley Commercial Real Estate Paragon Partners, Ltd. Services _ RBF Consulting CB Richard Ellis Sanli Pastore & Hill Coldwell Banker Residential Brokerage Inca Silverberg &Associates _ Dunmore Homes EMR Residential Properties' The Fieldstone Company KB Home The Larwin Company Lea Associates, Inc:, 1635 Pontius Avenue, Los.Angeles, CA 90025 (310) 477-6595 phone (310) 914-0249 facsimile Jobbell(&,leaassoc.com E-mail Atcomevs Abkarian & Associates Nossaman, Guthner, Knox & Elliott, LLP Buchalter Nemer Proctor, McCarthy& Slaughter, LLP Cox, Castle & Nicholson, LLP Quinn Emanuel Urquhart Oliver: & Hedges, Cummins & White, LLP LLP Demetriou, Del Guercio, Springer & Moyer, Reuben Raucher & Blum LLP Richards, Watson & Gershon Duke, Charles, Esq. Sonnenschein,.,Nath & Rosenthal, LLP Eskridge Law Stradling„ Yocca Carlson & Rauth Gaims, Weil, West & Epstein; LLP Tyre,; Kamins, Katz &'Granof Taff& —A rl.1 -r Graham P. Espley-Jones -President Mr. Espley-Jones joined WCH as President in 2002 and also serves as a Director. He brings over fifteen years of experience in the affordable and LIHTC industry to WCH. He holds a Masters Degree in Business Administration from Pepperdine University and a Bachelors Degree in Business Administration from San Diego State University. Mr. Espley-Jones served as the Chief Financial Officer of Kaufman & Broad Multi -Housing Group, Inc. (now Simpson. Housing Solutions, LLQ, one of America's'. leading partners in the investment and development of affordable multifamily and senior rental communities financed primarily with LIHTC's from - 1999 to 2000; Prior to joining Kaufman and Broad Multi -Housing Group, Mr. Espley-Jones was a.principal, Executive Vice President and Chief Financial Officer of ARV Assisted Living, Inc and their. affiliated companies ("ARV"). ARV's ` assisted living division developed and/or acquired over sixty assisted living communities comprising approximately 7,000 assisted living units. Mr. Espley-Jones currently serves as the. _ managing member of`BonGate,LLC, the majority shareholder of Cooper Colony Affordable Housing, Inc., the General Partner and Developer of a 135-unit LIHTC financed senior community located in Anaheim, California. Prior to joining WCH in 2002, Mr. Espley-Jones served as the Chief Financial and Administrative Officer of the Meyers Group, a real estate information and consulting company specializing in the housing industry. Mr. Espley-Jones began his career holding positions in the commercial real estate lending divisions of First California Savings Bank and CA Financial. Leanne Truofreh - Corporate Secretary and Treasurer Ms. Truofreh joined WCH as Corporate Secretary in 2005 and was named Treasurer in 2007. She has worked in the senior and affordable housing industry for 15 years. She is a certified Notary Public in the State of California. Ms. Truofreh began her career in the accounting department at ARV Assisted Living, Inc. ("ARV"). Prior to joining WCH, Ms. Truofreh worked for Simpson Housing Solutions, LLC as a Loan Draw Specialist. As Corporate Secretary, Ms. Truofreh's responsibilities include maintaining the records of both WCH and its partnerships that own affordable housing communities. Sandra Gibbons - Vice President, Finance' and Tax Credits - - Ms. Gibbons joined WCH as Director of Finance and Tax Credits in 2004. She graduated with a B.S. degree in Business Administration from California State University at Fullerton after having earned an Associates Degree in Business from Riverside City College. She worked for ARV Assisted Living, Inca ("ARV") where she served in several capacities in ARV's"tax credit division including Partnership Controller and as Director of Tax Credits. Ms. Gibbons also served as Partnership Controller of Simpson Housing Solutions, LLC (formerly Kaufman & Broad Multi -Housing Group, Inc.) in Long Beach, CA from 1999 to 2003. - As. Vice President, Finance and Tax Credits,'Ms. Gibbons has responsibility for WCH's financial reporting and serves as WCH's technical specialist on LIHTC issues. David Connelly - Vice President, Asset Management Mr. Connelly joined WCH as Vice President, Asset Management, in 2003. He graduated from Virginia Tech in 1971 with a B.S. in Finance and is a veteran of the Vietnam War. Mr. Connelly's career has primarily been in the banking, housing and commercial real estate industries, At Chase Manhattan Bank, he rose. to the level of Vice President, Commercial Lending. He joined Union Bank where he was head of Commercial Lending for one of their largest Regions. Prior to joining WCH, Mr. Connelly owned and managed a privately held company in the hospitalityindustry As Vice President, Asset Management, Mr. Connelly's responsibilities include .physical site inspections of WCH affordable communities to ensure that the property meets applicable regulatory requirements for properties being used as low-income housing. Paddy Espley-Jones — Assistant Asset Manager Ms. Espley-Jones joined WCH in 2007 as an Asset Manager. She began her career in the affordable housing industry in .1992 serving as a volunteer for the National Charity League where she assisted non -profits organizations providing supporting services to the affordable housing industry including Families Forward, the Orange County Interfaith Shelter and Meals on Wheels. She has an undergraduate degree in Liberal Arts from Pepperdine University. Ms. Espley-Jones has served as Vice President of Cooper Colony Affordable Housing, Inc. the developer of an affordable senior housing community located in Anaheim California. As an Asset Manager, Ms. Espley- Jones is responsible for overseeing the operations of affordable communities owned by WCH. Scott Gayner — Development Manager Mr. Gayner joined WCH in 2007 as Development Manager. He began his career in the affordable housing industry in.1992 and brings a broad base of experience to the WCH team. He has an undergraduate degree in Economics from UCLA and an MBA from Chapman University. Mr. Gayner served as Vice President and Partner of ARV Affordable Housing, Inc. from 1992 to 1996, focusing on large family and senior affordable housing projects. His expertise includes commercial land acquisition and development, industrial projects, rural affordable housing and acquisition/rehab of affordable housing. As Development Manager, Mr. Gayner is responsible for land acquisition and tax credit analysis, and development of affordable housing communities. Dianne Russell — Director of Resident Services Ms. Russell joined WCH as Director of ReW sident Services in 2007. Prior to joining CH; Ms. Russell served as Director of Resident Services at Jamboree Housing Corporation ("JHC"). While at JHC she launched "Housing with Heart" a separate nonprofit organization created to assess the needs of Jamboree residents and provide on -site services and programs. Before joining JHC in 1999, Ms. Russell was Executive Director of Women Helping Women, a community - based nonprofit organization. She is also a board member of the Kennedy Commission, as well as a member of the Costa Mesa Housing Coalition. She has a Master of Arts in Psychology from Cal State University, Los Angeles. As Director of Resident Services, Ms. Russell is responsible for, operating and expanding the various on -site social service, activity and referral programs for residents living in the WCH affordable communities. Barbie Defeo - Office Administrator Ms. Defeo joined WCH as an Office Administrator in 2005. Prior to joining WCH, she served as an Accounting Clerk for Sprint Funding Corporation. She is a certified Notary Public in the State of California. As an Office Administrator,. Ms. Defeo supports Ms. Truofreh in updating and maintaining the books and - records of both WCH and its affordable housing partnerships. In addition, she manages the day-to-day operations of WCH's corporate office in Costa Mesa, California. Peter Barker —Director Mr. Barker joined the WCH Board in2002 and joined its Audit Committee in 2006 He is the President and Chief Executive Officer of Barker Management Incorporated ("BMI"), a regional property Yfirmspecializing in managing g affordable housing communities financed with HUD, LIHTC, tax-exempt bond and other affordable financing sources. - Mr. Barker has extensive experience in financial consulting, development and management of affordable housing, including tax credit and bond -financed housing. Mr. Barker is agraduate of UCLA and currently also serves as a Director on the board of Shelter Partnership. Vicki Clark —Director Ms. Clark joined the WCH Board in 1999 and its Audit Committee in 2006. She also served as WCH's President from - 1999 to 2002. Currently, Ms. Clark is the President of Vintage Senior Living, Inc. She founded Western Seniors Housing, Inc. ("WSH"), a property management company focused on affordable housing communities financed with LIHTC's or tax-exempt bond financing. Prior to forming WSH, Ms. Clark was. Division President at ARV Assisted Living, Inc. ("ARV") whose affordable housing division developed and managed twenty two affordable apartment .communities comprising approximately2,500 units, the majority of which were financed with LIHTC's. Before joining ARV, Ms. Clark served in several property management capacities fbr Calmark Realty. Management, an owner and a developer of senior apartment communities. Ms.. Clark currently serves as.Chairman of the Board for CALA in addition to serving as the founding board member for EngAGE, a nonprofit whose mission is to provide life enhancements service to low income seniors - Graham Espley-Jones - President See Staff biography - Wing Lam —Director Mr. Lam joined the WCH Board in 2004. He co- founded Wahoo's Fish Taco in 1988. Mr. Lam is very active in _ national and local civic activities as a volunteer and serves as a director for numerous non-profit; corporations. Mr. Lam has a Bachelor of Science in Finance from San Diego State University. He is an active member of the Orange County _- Chapter of the Young Presidents' Organization. Mr. Lam and his family reside in Newport Beach, CA JeffreyyMeyers—Directo r Mr. Meyers joined the WCH Board in 2003. He is Principal of Meyers Land Development, a real estate development company located in Corona del Mar, California. He was the Founding Principal and CEO of The Meyers Group, one of the largest and most trusted sources for residential real estate information, research and consulting services. Mr.. Meyers is recognized as the market expert within the real estate industry and has been quoted in the Wall Street Journal, the Los Angeles and New York Times. He is a regular speaker to the National Association of Home Builders Council, the Pacific Coast Builders Conference, the Southern California Building Industry Association and the Urban Land Institute. Mr. Meyers has Bachelor of Science in Finance with an emphasis in Real Estate from San Diego State University and is a Licensed Broker in the State of California. He is an active member of the Urban Land Institute, the Real Estate Industry Advisory Council and the Young Presidents Organization, Mark Strutner —Director Mr. Strutner joined the WCH Board in 2005. He is Regional Manager of at Symantec Corporation. He is considered to be on the forefront of the hi -tech industry specializing in Software Sales Management. Mr. Strutner has previously held management positions at Oracle, Hewlett Packard and IBM/Tivoli Corporations and has worked on several start-up technology ventures in the Software industry. Mr. Strutner has a Bachelor of Science in Finance from San Diego State - University:. He participates in national and local civic activities and serves as a volunteer for several non-profit- corporations including the local chapter of the YMCA, the Queen ofHearts Foundation and Angel Flight. He has a private pilot's license and is a member of both the Civil Air Patrol and Angel Flight. Joe Brigani - Director Mr. Briganti Joined the board in 2008. He is Vice President/Loan Officer with PNC MultiFamily Capital. He is responsible for originating and structuring tax-exempt bond transactions. His primary focus is on Affordable Housing and specifically tax-exempt bond financing with or without tax credits. Mr. Brigani also originates market rate apartment and commercial loans. He has over 20 years of experience in the real estate finance and housing industries ` and has an extensive background in debt, conventional equity and tax credit equity markets. Prior to joining ARCS/PNC MultiFamily Capital; Mr Brigani was Senior Acquisitions Director for GE Capital. Mr. Brigani began his Affordable Housing career in 1993 when he joined Boston Capital Partners where he was Vice President of Acquisitions. Prior to Boston Capital Partners he was with General. Investment and Development where he was a member of the multifamily acquisition team. Mr. Briganti has a B.S. Degree in Finance and received his MBA Degree from Boston University. Organization Western Community Housing, Inc. (WCH) is a California Non -Profit Public Benefit Corporation. WCH was founded in 1999 and is headquartered in Costa Mesa, California. WCH's mission is to provide affordable housing and social service programs to low and moderate income families and seniors residing in affordable rental housing communities. History and Current Status: Shortly after;WCH was founded, it partnered with Century Housing Corporation ("Century") to develop the More Than Shelter for Seniors (now. Engage, Inc.) social service program. Under this program, Century contributed $500,000 for WCH to.develop and pay: the costs of expenses incurred to develop and operate a social service program. As a result, the majority of WCH's operations were in the area of social services. Beginning in 2002, WCH systematically added to its investments in affordable housing` communities. The primary focus has been on the development and acquisition of ownership interests in affordable housing communities located primarily in California. By partnering with local governments, for -profit developers, lenders, syndicators and corporate investors, WCH currently has .an ownership interest in 61 affordable housing communities comprising 6,154 units as of12/31/09.. (See Affordable Community List.) Management: WCH is governed by a Board of Directors which supports and directs the company's nonprofit goals. Board members bring a broad range of expertise to WCH including several members who are leaders in the affordable housing and development industry. WCH is managed by Graham P. Espley-Jones; President. He oversees all WCH operations, including strategic planning, acquisitions, development, and asset management operations. Other personnel include Sandra Gibbons, Vice President, Finance and Tax - Credits; Leanne Truofreh,.Corporate Secretary and Operations Manager; DavidConnelly, Vice President, Asset: Management; Patricia Espley-Jones, Asset Management; G. Scott Gayner, Development Manager, Dianne Russell, Director of Resident Services and Barbie Defeo, Office Administrator. In addition, WCH retains outside professionals to assist the Company in meeting its administrative, operational and compliance requirements. Membership/Associations: WCH and its management personal are active members in associations that are supportive of the affordable housing. Those associations include: - • Southern California Association of Non -Profit Housing • Building Industry Association of Southern California • California Council for Affordable Housing - • 50 + Housing Council of Southern California • Seniors Housing Council - - - - - - - • Kennedy Commission • Affordable Housing Tax Credit Coalition • California Housing Consortium Western Community Housing, Inc.'s ("WCH") Affordable Housing Program develops or acquires family or senior affordable apartment communities to be occupied by low-income households. By partnering with for -profit developers, and local, county or 'state governments, WCH and its partners provide affordable housing by either building new apartment communities or acquiring and rehabilitating existing apartment complexes. New Apartment Communities The majority of the affordable apartment communities that WCH owns with its partners are newly built. WCH and its partners construct new communities allowing for state-of-the-art designs including the use. of green materials. Typically, the communities require higher densities for affordable development to achieve economically feasibility. This method of delivering'' affordable housing typically uses either 9% or 4% tax credits with a significant layering of subsidies from local; state and federal government agencies established for the purpose of facilitating affordable housing development. Acquisition and Rehabilitation of Existing Apartment Communities WCH and its partner's purchase existing mature apartment communities for the purpose of converting their use to affordable housing or for the purpose of preserving existing affordable housing stock The communities are typically significantly rehabilitated withnewfixtures, structural supports exterior roofing and siding, landscaping etc. These are types of acquisitions are typically of larger apartment communities of seventy five units or more. Benefits to Sellers and Cities • WCH is a non-profit corporation that offers sellers who are so inclined, a socially responsible outcome not typically provided in a sale to investor groups or for -profit market rate developers. • Offers cities a viable method of addressing targeted population segments in the community with specific affordable housing needs. • Provides affordable housing thereby helping host cities meet their affordable housing goals as articulated in their respective housing elements. • In certain circumstances, WCH can assist cities with grants from the State. •` Improves the overall quality of life to low-income households and allowing them to integrate productively into the community: • WCH partners with numerous other non -profits and service providers to provide social services to low-income residents designed to provide amenities tailored to the communities' population. I ,1.�=?,...��..: :-�+-�.,5"9e. _..:.. . r ,., s��,.,�i�,�'•'s'a.u-+z'�s.a H. r.� � .:c '� �' z The philosophy of the Western Community: Housing Inc, (WCH) Services Program is to provide services that expand low-income residents' opportunities to live a richer life; whatever their age. The WCH Resident Service Program is designed to provide amenities tailored to the needs of the property's population. WRSP is managed by an experienced Director of Resident Services. Each residential family has individual needs and interests. Each community is unique and has special resources. By taking responsibility for the provision of services WCH can better serve its residents. It allows the flexibility to find and provide appropriate programs as the demographics. on the property change. Computers with internet access, ESL classes; information on health and well-being, personal financial - programs, fitness programs and resources for food and utility assistance are all examples of the range of services needed at Western Community Housing, Inc. affordable communities. In 1999 WCH founded More Than Shelter for Seniors, now an independent, stand alone non-profit called Engage, Inc., where WCH maintains Board of Directors representation. It provides services at WCH senior properties in the Los Angeles - Orange County area: In addition, WCH enters joint venture agreements with other non- profits to provide services to residents This ensures the predictable and efficient deliver y of .services: Creating pleasant communities within the property improves the surrounding neighborhood and promotes social responsibility; lessen the burden of government to provide services. _. WCH works with local non-profit agencies throughout the state that provide programs at fourteen properties. An additional ten will begin services in the next 18 months. That will bring the total number - of families to over 3100. P CM, C-4 . 1- 10.. Of 0 .M. m M 00 O pp N N N N N N N N N M. m M M m M M M # p a -c 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - 7 c .O W 1 W O: N M M 0 O 'o O O O -61 - M lA M M f� O' M N t- M l° M W (O co. O N' O- r' h: (0 O V W O CO. N W 7 V W V' 00 a0 O W W f� O W In 00 N m V m 00 00 O W V N N M. V' O M O M- M M c. N N m Y3 ja MO CIJ 00 W <- (0 0 -0' O O O' O 0.. M m M' M f� O' M N -It Cl) _N - M '00 - (0 M O. 'N 0 r N (0 '. V' V m V w W w 00 m I. O. 00 In 00 In w 0 't W w00 00 [F -N N -.0 M M M M ( M IC-= 1.00 .. N N :� g N 0 O O O. O O O O O O a 0 0 0 0 0' 0 0 0. 0 0 0 - - - N - 0N O C- M o N 00 N m co O O O O O 0) M N M M f� O M N V M N a0 f0 M O N 0 r- m w V -? W. O 00 Q) V V W V W W O W OD - O W l0 W ll1 N. m V Q1 W 00 00 V N N M V (O v O M- v M' N x W U a a a m m m a m m m m a- m a a m a m m m a a a a a'Li a a a a a a a a a a a a a a a a C7 (9 C9 C7 C9 C9 C7 (7 C9 C9 C7 C2 C9 C7 C9. (9 C9 -C7 C9 C9 (7 (7 C9 C9 C9 (9 C) .(D (D 0 C9 0 (7 (9 (9 C9 C7 0 a 0) a a .70 a a, w a -C O) Z O J- a) a N N J i C J a J C C Ul E E J J d wN, _ C a) a) N J O j' .0 1 m C a. L y. a J C li '� . N Ul C E -. - a. a' @ L O O' a) C fq j F Q J N '@ -! J a a a E 5 N @ 'C.. marr2/� � a --� a a. ul J O d ° "_. O "' N C c C @ J @} O t"' ' 7 a @ a Q > N- a .,N. -L .«2 a _N � 9 N= J a) a) ~ _0 m @ [l -Q O @ O N �l vN� d C U > C. a - (p. C O a J _. o o) rn r Q@ E rn>¢>@ E c .o E c a L@° f -° r n E CLi Z aNi ° a o@_> o Q> 3 Q Q m U c_ aci m r a 'y a o Oo = o d a �.. J�O.U'OCE-@°Qy.@@NENLLCN�@O��p>.�.a)op Q-a>'N C=JO y r 10N cn a LL E P a� a_ .0 V o rn 3= @ ro E o o@ L (0 Y J 7 w > N 2 E- 45 (L N -� J t m C -p �.. a) a i- '� W O Q @ @ ia) .@. .N @_ @ O N C7 ro a C ° U @ N N Y 7 C N a -0 @ .0 N _ E- --� @ C V) 5 @ a @ LL W C a°' M E N' U @ . '' > (n ro - ° 0 @ @ a) @ W O y @ L T ro ' a) R T 'O C -j C . J l�0 N-7Q 2 N N o �> O O O O r �'O L O C' O O N 7 O..N V C C. M O (6 (N6 fa .0 N.N- CN, a m Z m. m i V 00 Q 00.. OD' CO 00 00 F- 00 c-. W t0 F- In Z y }. m 0 U O (n a D U x' J � � (n m Q U aFT U co <'n LL LL LL N LL LL LL LL LL LL U LL LL m -LL LL LL LL LL LL LL LL . LL LL (n LL LL LL LL LL LL W LL LL fn LL: LL (n LL _:.. C C C - O - yy N ro N (0 N N -N NN N N co U "O "O '0 tn N N vy1 v1 rn E E E C0) 0) 0) c U m E E E rn ai U a� c a� a� C C C C N. @ E E E ro` @ a) N O j C la ° N a m m. 0) @@ @. D) @ 0) Q. 'm. '.Q Q Q O wa 7.- 7 7 m m C Ol Q m° Q U o 0 0 0 m ac`i m E>> m> m m m E n o c m c w w o w � (5 c J J J J W Y Y (n N Y F F- F- F- (n a' (n � } CO � o� 0 LL D J (n O LL U) J J H O N J O J Y a F � _ o p N tQE COC 0) E- Ea '0 C: co wE "OO 'a U E ... E ca Q q NN oa)@ aU om 2 J U Nm m m o ro oco @o o o m Jna COm J Q c O E__O ... NwC n O- «. r.. .. C a Q r > Q Q m` c o� c w >' T c- E E E c o,(D E ('v C @ 'E a m o 07 N@ r t rn rn n a -o E rn U) (Ed m m (tea m E E a 0 m m E r Q� °- C E c U 7 @ rn o Q Q @ y 0 m a LL . o LL a a a E Q �E Z "O Y CO p) 3 >+ > C N N co ``@ N E N -O@ N O CD 0) N C� C U i U/ m C Q C. E Q 7 Q 'E @ V -0 �(�.y — p C m C a) a)- p @ = 1] l LL n _C ;O 0) A -O aa�� J `.. � 7..LL .-a U 7 @. N LL--.- CO@ JT a. -LL C ON ,+4 =..@ a. C... a 9 co N C E E N j�E iq N d a)-Jt. L y.� T:. (a. m �.E� -O @ N w -•C 0 E. 'C N 'y p O •� O V a L: 7 ... @ a) 7 @ __ N O @ 0 C N a) o -0 . N C C @ N CO) L- O @- m' L .0 @ O r @ O _C.. O O @ O @ 7 C O t. O 7 F- m U C9 Co x j O U _0 U LL (n J F- F- W Z F- U Z 5 } m U J O In F- U F- J W (n (, (n 5 U qk - O W N M: — et- ——— r 00 W O .a M W r .t0.-m O-. N N M d' �O w I-- Go Di - W N N (V N N N 'NO N N M N Q 7 V V V N N u C(N - (Ln h LNO N N CNO (WO - fD O) IL` L: 0 0 0 0 0 0 o a 0 0 0 � ( _0 _. 0 0 O. M O 7 O O - - M v r ,v (o 0 o 0)v o 0 o v o m o o o Cl)w m m 0 v ao co w (n v 1- ao v N O0. Cl)o CO (n 7 CO O. O @ - V - O V (O V (O o O' O C O M _V W .00 co (O (O oD m co CA 'V d' V' r w 0 N O 0 O. C, a O O -O 0 0O O O O O' O O- O O -� • O. M (n a xLu a a a a a a a a a.a a a a a a a a a a u-j (Dc)o((Do(Do(((ocD((Dcr)(D((D a .a a 0 J JN a a C N d. J Q d N N O O y J N N E N T C E N J m o c co c a� m E 0c m co a s a c a EE a i O1 m '0 Q� O Q 7 O _w Q c ,C a 0 Q.m J a .� •N '_j Z N ro .R Y =a- �. Q C' "00 U) J . O J 2 -LN�J(NO jQ� dC. J(Y`pVi� U.M N N> EO W N o N �Z�m.�� 'o;>`g ro .J. .O o (tea 3: o. o (� U a s (n U x U U J .� Q Q- (No U) 3 a. � 0 o a s LL y 0) Z a a (n a (n LL ' In a LL LL a 0 LL - IL . N co Oc aN (� rn a a) d m a) aNm amU m@m mmN� E m 0) o omw E E U 0 ca omo a o o 0 O o o - (n (n n J (CO J - n 0 c E E m m R E N m rn rn a 'a o U oc 8 8 Y cc U E� °c m a m a o N =' U N M O 7 O OS O1 - O ..-O . CO c O O ff. 0 (n w a z F- F- (n a w c� J a Q O J J S J 7 C C N N w o E E E E U n a tf o aci . M' m fq0. m E 0 o) Q o '� a Q' _r. E .N Q n> Q n¢ a m c N T a 'O. O .c- ` 0' m (D N .0 Q_ O Oq. -Opp_ n6 E N = U_. .E T O C' E 2 a .X z '� 'C N S.-m c a N co 0 EO i1 m OO.. O N U _ U. LL @ iO 'N z o CL m o c o m N C7 0 •10 3 a� w o �Z roy0 m'(OO `s_o IL Q �. U. 2. U.? J .Q �. �. Q Q m m J a-Q .a U. a -nw r pp Ol CD- cm M- CO CO r Oo O/ O- - M R v v V -. R 7 N N 0 CO 0 CO N CO N CO (O (D O F 0 0 a U m d w N a O O -0 N Z r N (na � Z F (nLL(n�. SOLARI Affordable Housing Specialists olari Enterprises, Inca is a full service propertymanagement organization specializing in affordable housing. The portfolio includes multifamily housing for families, seniors, special needs and single room occupancy. ` Solari Enterprises, Inc. is one of the most experienced firms in the management of Section 42 Low-income Housing Tax Credit (LIHTC) properties. The principal's involvement in the Housing Credit program began in 1989. Solari Enterprises, Inc. has performed the complete lease -up and certification of more than 75 LIHTC properties to date. Currently the company is managing 60 LIHTC properties. Additionally we provide compliance -monitoring services throughaudits, file repair, and training - to Owners, Managers and Equity Investors. Our clients include companies with large portfolios that recognize the value of our level of expertise and experience to meet their needs. Solari Enterprises, Inc. has over 35 years of experience working with the Department of Housing and Urban Development (HUD) Programs including 202, 221(d) 3, 236, and 221(d)(4), California Housing Finance Agency (CHFA), California Housing and Community Development, Community Redevelopment Agency, Century Freeway Financing and. Conventional financing. Services extend from the development planning, construction or rehabilitation stages, through lease -up and into the on -going management operations of the development. The Home Office is located in Orange, California. Our office is staffed by professionals with an average of ten years' experience specializing in various disciplines related to the management of affordable housing, including regional managers, bookkeepers, occupancy specialists, compliance officers, and a maintenance division. Solari Enterprises, Inc. is a recognized leader in the affordable housing industry.. We may not be the biggest but we do have the unique expertise to tailor our procedures and systems to ensure that our clients are our first and only priority. We take pride in our ability to address your needs, if necessary, within the same hour on the same day. Our support services' include state of the art computer hardware and software systems, giving us the capacity to connect with our properties around the clock. Johrita Solari, President/CEO, and Bruce Solari, Executive. Vice-President/CFO, each have more than 35 years of property management experience, specializing in affordable housing. Both are past presidents of the Pacific Southwest Affordable Housing Management Association (AHMA) and they have been elected as 2 of only 9 lifetime members of its Board of Directors, via their status as Directors Emeritus. Additionally, Bruce and Johrita have both been honored. - individually with AHMA's highest honor, the Clive Graham Memorial Award, for their contributions to the assisted housing industry. Giving back to the community and the affordable housing industry is important to Johrita and Bruce. Johrita originated a national anti -drug program that today reaches over 100,000 families nationwide each year. Bruce was responsible for the organization of a scholarship program for children residing in affordable housing. To date, in excess of $200,000 has been contributed to help provide education opportunities to nearly 140 children. Corporate Office: 1572 N. Main Street, Orange, CA 92867 San Jose Office; 560 S. Winchester Blvd. Suite 500, San Jose, CA 95128 T:714-282-2520 F:714-282-2521 www.solari-ent.com SOL/ RI I N C. Affordable Housing Specialists Johrita is a certified National Affordable Housing Management Professional -Executive; she also holds an active Real Estate license, serves of the Advisory Board of the Assisted Housing Management Insider and the Board of Directors of various industry associations. Bruce is a licensed Real Estate Broker and General Contractor. He is a certified National Affordable Housing Management Professional -Executive. He served on the Board of Advisors of the Assisted Housing Accounts and Audits Insider and was the Housing representative on the Advisory Board of the California State University, Fullerton Gerontology Department. Industry Associations and Accreditations: (sample listing) Affordable Housing Management Association (AHMA) National Affordable Housing Management Association (NAHMA) Southern California Association of Non -Profit Housing (SCANPH) Building Industry Association, Southern California (BIA) California Housing Consortium (CHC) National Housing Conference (NHC) National Association of Home Builders (NAHB) California Apartment Association (CAA) Specialist in Housing Credit Management (SHCM) 504/Fair Housing Coordinator - - Certified Professional of Occupancy (CPO) - Registered Apartment Manager (RAM) National Assisted Housing Management Professional (NAHP) (Executive and Professional levels) (References available upon request) Corporate Office: 1572 N. Main Street, Orange, CA 92867 San Jose Office: 560 S. Winchester Blvd. Suite 500, San Jose, CA 95128 T:714-282-2520 F:714-282-2521 www.solari-ent.com 80 1 Adams & Central Los Angeles Tax Credit Family Corporate Resume Curriculum Vitae for Brian P. Kent Professional Experience KKG, Inc. — Construction Management Services Montclair, CA Title: President - Construction Management, Estimating, Constructability Analysis, and Design Assistance services. - To date have administrated $400,000,000 in direct construction cost. - - - - Have performed preconstruction services for $370,000,000 in construction value. - Clients have included: - • Meta Housing Corporation • Essex Property Trust • Douglas Emmett Co. • J h Snyder Co. • The ICON Company • Campus Acquisitions . • AMG &Associates • Chino Valley Unified School District • Rose Hills Mortuary • Harding Architects •. Turner Co. • Swinerton Builders • Ampco Parking • Foothill Country Day School _... • Ray Wilson Co. • Madison Development • Kirkorian Theatres • The Webb School • Pacific Design Center • Penstar Group • ML Street Properties • Department of Homeland Security • First Baptist Church of Claremont • Harvey Mudd College - - -- • Braughton Construction • KAR Construction f RAY WILSON CO. Pasadena, CA Title: Vice President — Operations Manager - Managed the construction of $121,000,000 in new construction. - Managed pre -construction efforts for $75,000,000 of proposed work. - Projects include: Retail Malls Parking Structures Sports Facilities Police Station Amusement Park Attraction Brian P. Kent Page 2 Entertainment Facilities Tenant Improvements Office Building PECK/JONES Los Angeles, CA - Title: Vice President — Estimating and Pre -Construction Have participated in varying capacities on 30 projects with a total value of $350,000,000.00 - Have overseen estimates and budgets for 121 projects with a total value of $1,150,000,000.00 Projects include: Office Buildings Retail Malls -- Entertainment Facilities .... Hospitals Sports Facilities (LA Kings and Lakers training facilities) 2 Custom Homes ($35,000,000 and $70,000,000) Sound Stages OLTMANS CONSTRUCTION INC. Whittier, CA Title: Account Executive, Senior Estimator - Participated in varying capacities on 22 projects with a total value of $200,000,000.00 - Projects included: 1 Resort Hotel 5 Retail Shopping Centers 1 Department Store 1 Automotive Manufacturing Facility 4 Manufacturing/Industrial Buildings - — 4 Office Buildings 1 Apartment Building 2 Restaurants 1 Auto Racing Facility 1 Regional Truck Stop/Retail Facility 1 Sound Stage BROWN, BUNYAN, MOON, and MORE L.P. Glendale, CA Tide: Construction Manager - Completed 40 projects with a total value of $13,000,000.00 - Projects included: 18 Supermarket remodels. 17 Mall tenant improvements. 1 Pre Construction & Design for Custom Home 1 Assisted Living Facility. 6 Convenience stores (ground up and site). Brian P. Kent Page 3 JAVAID CONTRACTORS, INC. Rowland Heights, CA Tide: Construction Manager - Completed 24 projects with a total value of $29,000,000 - Projects included: 10 public parks (Santa Ana, Baldwin Park, L.A., Paramount, Laguna Niguel) 1 railroad station (Baldwin Park) 1 zoo exhibit (Santa Ana) 2 office buildings (Orange County Sanitation District, Javaid. 2 parking structures (Montebello, Huntington Park) 4 athletic facilities (Rialto, Rancho Cucamonga, Santa Ana, L.A.) 2 retail sites (20 acres) (Montebello) MSH CONSTRUCTORS, INC. Pasadena, CA Title: Vice President - Complete 11 projects with a total value of $27,000,000 - Projects included: 8 story airport control tower and administration building (Burbank Airport) 6 story office building (Francis -Friedman Properties, Beverly Hills) Site development, and restorations of the Lanai Wing, Royce Manor, Carriage House, and 6 Custom Homes for Ritz Carlton Hotel (Pasadena), including restoration of 2 Green & Green circa 1930 homes. 1 public park (L.A.) 2 supermarkets (Ralph's) (Northridge, Long Beach) 3 retail shopping centers (Gemtel Corp.) (Seal Beach, Pasadena, San Dimas) B. P. KENT CO., INC. South El Monte, CA Title: President - Completed 94 projects valued at $30,000,000 - Projects included: 12 residential homes (remodel, addition, and new construction) 3 retail shopping centers (Fireside Dev., Kencor Corp.) (So El Monte, Ontario) 3 industrial/manufacturing buildings (Select A Switch, Hayward Pool) 4 public parks (Redondo Beach, L.A, Santa Monica, Long Beach) 3 office buildings (Cal Trans, County of Orange, Air Force) 3 restaurants Qapanese 4,000 s.£, Mexican 12,OOO s.£, Dinner House 6,000 s.£) 34 tenant improvements (50 % Private Sector, 50% Public Sector) 2 residential housing tracts (44 single family residences) 1-25 acre site development for custom residential lots. (Colton) 3 schools (1 private, 2 public) (Fullerton, Cerritos, L.A) 1 Golf Course Clubhouse (remodel/addition) (Cerritos) _. __ .... LYLE PARKS JR., INC. La Habra, CA Titles: Hired as: Assistant Estimator - Resigned as: Senior Project Manager - Completed 82 projects valued at $169,000,000 - Projects included: 21 supermarket shopping centers (Luckys, Alpha Beta, Ralph's, Albertsons) 5 industrial parks (91 acres, 32 buildings) (Various developers) --- 8 banks (Mitsubishi, Pacific Southwest, Founders, Security Pacific, and Gibralter) 2 automobile dealerships (Bewely Allen Cadillac, La Habra Dodge) 4 medical centers (Friendly Hills, Chang) (Brea, La Habra) 8 office buildings (Mercury Casualty Ins, Hill Development, Sherson Am Ex) 2 fire stations (Chino, LA) Brian P. Kent Relevant Project Experience including renovations/remodels to existing buildings including structural remodel Name Villa. Venetia Location Description 225 units; circa 1965 update with all new interiors, minor Marina Del Rey interior redesign; all new exteriors. 5 stories. Position.. Construction Manag Ritz Carlton 75 units and`admin offices; circa 1950 hotel originally built as a Sheraton, but completely gutted and refitted as a Ritz Pasadena Carlton. Moderate exterior reformation. 5 stories. Project Executive Estimator Royce Manor Pasadena 25 units; circa 1925 retasking from apartments to high end hotel. Full rebuild on interior. Moderate exterior reformation. 2 stories. Project Executive Estimator Carson's Shi and Newport Beach Conversion of a circa 1930 commercial recreational ship building/repair facility to 2 upscale commercial office buildings. One building sat entirely over water. Estimator Project Manager 15,000 s.f. home on 3 acre site, circa 1920; converted fo Muckenthaler Cultural Center Fullerton use as a publicperforming arts and cultural center. Conversion of a 20,000 s.f, public school, circa 1925, to retail center. Original structural seismically upgraded wit Carriage House Pa; Lucas Triplex Los Imperial Courts Apartments Los Jewish CommunityCenter Los Upland Police Station U k conversion of a defunct, 1940 brewery into security offices, including interrogation and holding cells, for Homeland Security Offices Fresno Homeland Security. 15,00o s.f. BeverlyWilshire Hotel Beverl Hills Refurbishment of all guest rooms. units complete update/renovation of circa 1920 Affordable Apartments Pomona apartments Mt. San Antonio Gardens Foothill Country-DaySchool Apartment Building Cerritos Golf Course [Air Force Claremont Senior Housing Conversion, upgrading, and retasking of 30,000 s.f. of public amenity spaces for this senior housinc development. Construction circa 1940. Complete gutting and reconfiguration of private school classrooms, library, and administrative offices. All new interior walls and exterior facade. Buildings circa 1940. Pasadena 40 units; renovation. Remodel of clubhouse. Reconfiguration of first tee, putting Cerritos green and lake. San Bernardino Air Force Satellite Data Rini line _ ramnilml h ZOeter Place Seal Beach all new interior layout and new exterior. 40 unit apartment, circa 1950, complete exterior renovati El Molino Court Pasadena with minor interior upgrades. 3 stories. 4 unit apartment over 10,000 s.f. retail building. Seismic upgrade, full exterior renovation. Partial interior Venice Mixed Use Venice renovation. Carriage House Pa; Lucas Triplex Los Imperial Courts Apartments Los Jewish CommunityCenter Los Upland Police Station U k 30,000 s.f. retail office building, circa 1915, full exterior ar lena interior reconstruction. 3 stories. Complete renovation of circa 1915 triplex. Interior and ngeles exterior. Complete interior gut and remodel of 20 apartments, cires lgeles 1940 construction. Compete retasking of interior space of circa 1950 building igeles 40,000 s.f. Complete gutting and retasking of 15,000 s.f. police statio circa 1925. Turned into cultural center. conversion of a defunct, 1940 brewery into security offices, including interrogation and holding cells, for Homeland Security Offices Fresno Homeland Security. 15,00o s.f. BeverlyWilshire Hotel Beverl Hills Refurbishment of all guest rooms. units complete update/renovation of circa 1920 Affordable Apartments Pomona apartments Mt. San Antonio Gardens Foothill Country-DaySchool Apartment Building Cerritos Golf Course [Air Force Claremont Senior Housing Conversion, upgrading, and retasking of 30,000 s.f. of public amenity spaces for this senior housinc development. Construction circa 1940. Complete gutting and reconfiguration of private school classrooms, library, and administrative offices. All new interior walls and exterior facade. Buildings circa 1940. Pasadena 40 units; renovation. Remodel of clubhouse. Reconfiguration of first tee, putting Cerritos green and lake. San Bernardino Air Force Satellite Data Rini line _ ramnilml r Estimator Project Manager a Estimator Project Manager on Project Executive Estimator Project Executive Estimator d Project Executive Estimator Construction Manager Project Executive Estimator Project Executive Estimator I Estimator Account Executive Estimator Account Executive Estimator Project Executive Estimator Estimator Project Manager Account Manager Estimator Account Executive Estimator Project Manager Estimator Account Executive Page 1 of 2 Page 1 of 2 Brian P. Kent Estimator Air Force San Bernardino Cargo Storage Facilities; seismic upgrade and new roof Account Executive Estimator Gymnasium Los Angeles Renovation of 40,000 s.f. Center Account Executive Estimator Office Building Santa Ana County Office Building; 10,000 s.f.; office interior build out Account Executive Our Lady of Assumption Church Claremont Renovation of church Project Manager Estimator Westside Synagogue Brentwood Synagogue Renovation Account Executive Estimator LA ZOO Los Angeles Elephant Barns and Exhibit - major expansion of barns Account Executive Estimator Memory Gardens La Habra Mortuary and Crematory; renovation and expansion Project Manager Estimator City Hall Santa Monica Building Department Remodel Account Executive Estimator District Attorne 's Office Santa Ana County Office Remodel Account Executive Environmental Management Estimator Agency Offices Santa Ana County Office Remodel Account Executive - Cal Trans Offices Los Angeles 20,000 s.f. Renovation of Executive Offices Estimator Baptist Church Claremont Renovation and expansion Construction Manager Estimator ' UCLA -Engineering Los Angeles Renovation of engineering building Project Manager Estimator. UCLA-PsychologyUCLA-Psych6logy Los An eles Renovation of faculty offices Project Manager Reconstruction of District administrative offices after Estimator Cerritos School District Cerritos destruction by fire. Project Manager Estimator Long Beach City College Lon Beach Seismic upgrade and renovation of English Dept. Project Manager Sacks 5th Avenue Beverly Hills ` Renovation of Dept. store Estimator American Airlines Los Angeles Terminal Construction - Terminal Four Renovation Estimator Emergency repairs and seismic upgrades of 10 centers San Fernando after the Northridge earthquake. All centers were kept in - Luck 's Markets Valley operation throughout the work. Estimator Museum Square Los Angeles Renovation of Office Building Estimator Reconstruction of office building after Northridge earthquake. '4 story building was distorted 3 feet out of Tourney Road Office Building Placentia plumb and 2 feet out of square. Estimator Vons Grocery Arcadia Conversion of May Co. Store to corporate headquarters. Estimator 9,000 s.f. Conversion from office space toTelecom Ma tech New Mexico Switching Center Estimator Conversion of 75,000 s.f. office/retail facility to medical Friendly Hills Medical Center La Habra clinic. Estimator Mt. San Antonio Gardens Claremont Renovation of public areas for 30,000 s.f. senior center Estimator JOHN COTTON ARCHITECTS, INC. 38t6 MAIN STREET CULVLrr.C1YY,.CALIFOFIN(A .90Y32. 31C SSU616 _110.5584676 fax www.johricoMm�rch.com FIRM INTRODUCTION John Cotton Architects has been in practice since 1965. The firm's range of services include master planning, urban design, and full architectural services. The firm has been the recipient of over 50 design awards from such organizations as the Urban Land Institute, American Institute of Architects, National Association of Home Builders, and the Pacific Coast Builders Conference. During the past 40 years, John Cotton Architects has developed a widespread practice in market-rate,government-subsidized affordable family and senior housing, as well as condominium projects completing.over 15,000 units. The firm is owned and managed by John Oliver Cotton, FAIR. Mr. Cotton has over 40 years of experience in a variety of project types and in 1985 was elevated to the Fellowship of the American Institute of Architects in recognition of his contributions to design excellence. The firm's production team has a depth of knowledge in the implementation of successful projects and has set up standards and systems that expedite construction documents resulting in a quality set of plans. Our well -developed technical standards and project delivery skills are based upon decades of experience providing comprehensive architectural services on range of project types and sizes. In addition, the firm is highly experienced in implementing design strategies that accommodate the highest of LEED standards and certifications. John Cotton Architects is committed to design excellence and provides a "hands-on" approach to architecture; developing long-standing relationships with clients and public agencies; Senior staff are directly involved with every project from inception to completion, working closely with client management teams and consultants to ensure continuity throughout the process. It is this philosophy that has resulted in a strong portfolio and has earned the firm a specific reputation for the design and implementation of both economically and aesthetically _. successful projects. III Ili, J©HN COTTON ARCHITECTS, INC. 3816MAINIT EE'F UULVr:I;CIFY.-CALIFgRIWA-9023$..31G.55�841b:$i0.g9eM-36y4fax wwwJohncotionarch.com AWARDS &.RECOGNITION 4 PROJECT YEAR AWARDS ADAMS & CENTRAL MIXED -USE 2010 MULTIFAMILY PILLARS OF THE INDUSTRY AWARD FAMILY HOUSING DEVELOPMENT National Association of Home Builders (NAHB) � Best Affordable Apartment Community of the Year 2010 WESTSIDE PRIZE DESIGN AWARD Westside Urban Forum - Los Angeles 2010 AWARD OF MERIT -: Pacific Coast Builders Conference Best Mixed -Use Project 2010 AWARD OF MERIT Pacific Coast Builders Conference _z Best Affordable Project 30 Density Units/Acre or More � 2009 AWARD OF MERIT • 4� �� y Pacific Coast Builders Conference ' Outstanding On -the -Boards Apartment Project _..., - ' � � ; �'• BELMONT STATION APARTMENTS 2010 AWARD OF MERIT Pacific Coast Builders Conference Best Affordable Project 30 Density Units/Acre or More 2010 AWARD OF MERIT; Pacific Coast Builders Conference. Best Multifamily Housing Project Over 6 Stories NOHO SENIOR ARTISTS COLONY 2009 SAGE AWARD PROJECT OF THE YEAR BIA Southern California 50+ Housing Council "On - Best the Boards" 2009 GOLD ACHIEVEMENT AWARD NAHB 50+ Housing Council Best Multifamily Housing Overall Market -Rate Rental Community "On -the -Boards"! 2009 AWARD OF MERIT Pacific Coast Builders Conference Outstanding On -the -Boards Senior Community VOIJOHN COTTON ARCHITECTS, INC. 3416 MAIN STRUT CULV€ri Cr Y_ CALIFORN1A A023Z_31& M6616 .3.10.55078676 fax WWW—IohncoKanarch.com AWARDS & RECOGNITION, CONTINUED r AWARDS <' PROJECT YEAR - THE PIEDMONT SENIOR HOUSING 2004 GOLD MEDAL NAHB Senior Housing Council Best of Senior Housing Design Awards Senior Rental -=-. 2004 SPECIAL JUROR'S INNOVATION AWARD PLATINUM MEDAL NAHB Senior Housing Council Best of Senior Housing Design Awards Active Adult Community - Small 2003 AWARD OF MERIT Pacific Coast Builders Conference Best Apartment Project - 4 or more Stories 2003 AWARD OF MERIT Pacific Coast Builders Conference < �I Best Senior Project -Active Adult FOURTH ST. SENIOR APARTMENTS 2004 SILVER MEDAL and PUBLIC PARKING GARAGE NAHB Senior Housing Council Best of Senior Housing Design Awards Affordable Rental Senior Apartments 2002 AWARD OF MERIT Pacific Coast Builders Conference Best Senior Project -Active Adult :r 2002 AWARD OF MERIT Pacific Coast Builders Conference Y BestAffordableProject- Attached - BREEZEWOOD VILLAGE 2003 BEST MULTIFAMILY SENIOR PROJECT SENIOR APARTMENTS California Redevelopment Association JOHN COTTON ARCHITECTS, INC. 3816MAIN iW99T CULVEIICCIY CALIFORNIA-90232 310.83"616,.3.10.550786i61aK xnvwJohncaKonarch.wm JOHN O. COTTON, FAIA MANAGING / DESIGN PRINCIPAL In his role as Managing / Design Principal, John is responsible for the design direction of the office and overall guidance of all projects. He is directly responsible for the performance of the project team and will ensure that the commitments of resources and services will be met. John has over 40 years of experience and has developed a particular expertise in the design and implementation of senior housing, family housing, and market -rate residential projects completing over15,000 units. As a partner in the firm of Kamnitzer + Cotton, he developed a widespread practice in housing and commercial projects, receiving local and national awards for excellence in design. In 1985, for recognition of his contributions to the field of architecture, John was elevated to the status of Fellow in the American Institute of Architects. He has participated in a variety of major projects in downtown Los Angeles and in other areas, as well, Among these were five different sites on Bunker Hill for high-rise mixed -use projects, as well as being part of the joint venture team of architects that designed the 11-acre California Plaza, project. He has continued his focus on mixed -use and residential projects and has created some unique and outstanding projects, such as the award -winning Adams & Central Mixed -Use Housing Development which recently garnered a Pillars of the Industry Award for Best Apartment Community of the Year by the National Association of Home Builders (NAHB). The Belmont Station Apartments providing workforce housing has won two MeritAward from the Pacific Coast Builders Conference, he has also received the Urban Land Institute's "Project of the YearAward" for the Beverly Hills Senior Housing and Mixed -Use Development. John is currently doing mixed -use, senior and family residential projects in a number of communities throughout Southern and Central California. EDUCATION • Master of Architecture - Massachusetts Institute of Technology • Bachelor of Science and Arts - University of Minnesota • Bachelor of Architecture with distinction - University of Minnesota • Fulibright Scholar - France • Rotch Travel Grant - Design Competition REGISTRATIONS • Licensed Architect, California #C3745 • NCARB MEMBERSHIPS • Fellow American Institute of Architects - • Associate Member - Urban Land Institute JOHN COTTON ARCHITECTS, INC. . 7816MAINITRIET. CULV€RCRY-CALIFORNIA.-90232..310.55&0614.2.14.558!86T.6W WWWJ4hnC0KQnarshx0M JOHN O. COTTON, FAIA, CONTINUED SELECT PROJECT EXPERIENCE • Vermont Avenue Apartments - Los Angeles, CA: 49 units of family apartments comprised of 8 one bedroom,'22 two bedroom, and 19 three bedroom units with community room, art studio, central courtyard; garden and outdoor space. • Adams & Central Mixed -Use Project-LosAngeles,CA; 3-stories of residential over 1-story of retail and 2-levels of parking. The residential component is comprised of 80 units of 14 one bedroom; 36 two bedroom, and 30 three bedroom units. The retail is comprised of anew 15,000 sf Fresh & Easy Grocery Store, - • NoHo Senior Artists Colony- North Hollywood, CA: 126 units; 80%market rate and 20% low income; amenities include art studio, sculpture studio and sculpture exhibit space, performing - - arts theater and rehearsal spaces, creative writing and read aloud library, computer filmmaking equipment and digital music editing, and computer media arts center + Belmont Station Workforce Apartments- Los Angeles, CA; 275-units; 80%° market rate and 20% low income workforce apartments consisting of 138 -1-bedrooms, and 137- 2 bedrooms. - • Rittenhouse Square Mixed -Use Senior Housing Development- Los Angeles, California 100 unit, 100% low-income senior apartment project with ground floor retail • Bellflower Senior Apartments and Senior Community Center Bellflower, CA; 180 units senior apartments, senior community center, subterranean parking garage. • Breezewood Senior Apartments- La Mirada, CA; 122 low-income senior apartments on a 4.2-acre site consisting of twenty(20) craftsman style,1 and story buildings in a garden courtyard arrangement surrounding a centralized community building. Fourth Street Senior Apartments & Public Garage- Santa Monica, CA; 66-unit senior apartments, 294-car public garage;' central clubhouse: • Park Plaza Senior Apartments - North Hollywood, CA; 203-unit 100% low-income senior apartment complex, central two-story clubhouse. • Piedmont Senior Apartments North' Hollywood, CA; 198'-unit 80%'market-rate and 20% low-income senior apartment complex, central two-story clubhouse, • Emerald Terrace Family Apartments - Los Angeles, CA; 85-units of high -density, low-income family - apartments consisting of 8 -1 bedrooms, 38- 2 bedrooms, and 39 - 3 bedrooms. • Beverly Hills Senior Apartments & Public Garage -..Beverly Hills, CA; 151-unit low-income senior apartment complex, 870-car subterranean parking garage, ground floor retail. • Clark Drive Senior Apartments - Los Angeles, CA; 40-units of low-income senior apartments; ground floor public parking garage, subterranean apartment parking garage. + Victoria Manor Senior Apartments Riverside, CA; 112-unit low-income senior apartment complex, central clubhouse, children's daycare center for adjacent church, - + Redwood Village Senior & Affordable Family Apartments = Marina del Rey, CA;,50-units of low- income senior and family apartments, large central community building. JOHN COTTON ARCHITECTS, INC. 3614 M/I1N a7REE7 CUkV�ER COY. CALIF -40232...3 f q.S 841{+. 91A.551i x w�vwJQ !)6561ansottoriarsh.cam RYAN YANAGITA PRINCIPAL PROJECT MANAGER In his role as Project Manager, Ryan will be'responsible for the day-to-day management of the production - team. He will also coordinate the work of the engineering consultants to ensure they stay on course with the established schedule and budget. During his 10-year tenure with the firm, Ryan has been involved in all phases of project implementation, - p from schematic design through construction administration. He has been responsible for theproduction of construction documents for over 2,000 units of low-income, senior, and market -rate housing. EDUCATION • University of California, Santa Cruz • Southern California Institute of Architecture (SIARC), SELECT PROJECT EXPERIENCE • Vermont Avenue Apartments -'Los Angeles, CA: 49 units of family apartments comprised of 8 one bedroom, 22 two bedroom, and 19 three bedroom units with community room, art studio, central courtyard, garden and outdoor space. • NoHo Senior Artists Colony- North Hollywood, CA: 126 units; 80% market rate and 20% . low income; amenities include art studio, sculpture studio and sculpture exhibit space, performing arts theater and rehearsal spaces, creative writing and read aloud library, computer filmmaking equipment and digital music editing, and computer media arts center -- • Emerald Terrace Family Apartments - Los Angeles, CA; 85-units of high -density, affordable family apartments consisting of 8 -1 bedrooms, 38- 2 bedrooms, and 39 - 3 bedrooms. • Adams °& Central Mixed -Use Project - Los Angeles, CA; 3-stories of residential over 1-stories of retail and 2-levels of parking. The residential component is'comprised of 80 units of 1.4 one bedroom, 36 two bedroom, and 30 three bedroom units. The retail is comprised of a new 15,000 sf Fresh & Easy Grocery Store. • Rittenhouse Square Mixed -Use Senior Housing Project - Los Angeles, CA; 4-stories of p p residential over 1-stories of retail and 2-levels of parking. The. residential component is comprised of 100 one & two bedroom senior units with ground floor retail, • Oakley family & Senior Apartments -Oakley; CA; 154-units of low-income family units and 54 senior units. on 6 acres, secure gated access; barbecue and picnic areas, laundry facilities on each floor, and a 2,000 square foot community room with computer labs. • Woodlake Sierra Family Apartments -Woodlake, CA; 80 affordable units in five garden style walk up buildings with traditional Craftsman design; community room featuring computer labs and study areas, a tot lot, barbecue and picnic areas. • Pacheco Village Family Apartments - Los Banos, CA; 105-units of low-income family garden apartments consisting of 46 - 2 bedrooms, 47 -.3 bedrooms; and 12- 4 bedrooms„ a central community. clubhouse, children's play areas. i This senior project is an urban infill, high density 126 unit complex with an 80% market rate and 20% low income apartment mix. Located in the NoHo Arts District, a diverse neighborhood with many small' performance theaters, artist's studios, and creative professionals, the design offers communal social - spaces for senior residents based on using visual, written, performance, and musical arts:' R Community amenities include art & sculpture studios, ' sculpture exhibit space, a ,performing arts theater with rehearsal space, creative writing and read aloud library, computer filmmaking equipment and digital music editing, computer media arts center, as well as more traditional community rooms. The design provides for a 75-seat performing arts theaterwitha resident professional theater group adding to the NoHo Arts District and serving as the in-house theater for the resident's performing arts, program as well as the movie theater for movie nights. UNITS:126 Units /Senior Housing (80% Market Rate and 20% Low Income) COMPLETION: Fall 2012 / New Construction AWARDS & RECOGNITION • SAGE Award Project of the Year - Best on the Boards- 2009 BIA Southern California 50+Housing Council • - Gold Achievement Award Multifamily Housing On -the -Boards Overall Market Rate Rental Community - 2009 National Association of Home Builders (NAHB) 50+ Housing Awards Program Award of Merit, Outstanding On -the -Boards Senior Community - 2009 Pacific Coast Builders Conference Golden Nugget Awards GREEN D \ 3 all, � 6�} s i about green dinosaur Green Dinosaur was founded on the belief that informed, rigorous building design makes good business sense and can help provide solutions to climate change. Our operating principle is based on team integration and the employment of sustainable strategies. In working with all stakeholders from the conception of a,project design, we create buildings that operate with the lowest energy use and provide the highest value for the client: _ With over seventeen years of project experience in the building industry; founding Principal Engineer Jason Lorcher leads a dynamic team of architects and engineers to provide a full range of services and cutting edge strategies towards the production of highly efficient, environmentally responsible buildings and developments. services • LEED Consulting/Certification Support Process Management System Documentation Integrated Design Team Process LEED Energy Modeling • Sustainability Studies _ Climate Analysis Carbon Neutral Targeting Energy Options Reporting Natural Ventilation Daylighting Analysis Photovoltaics LEED Feasibility Report • CHPS Consulting Services • Build It Green Consulting Green Point Rater / LEED-H Green Rater • Commissioning Services • Sustainable Construction Partnering - - - oc a -. o z- _ Z. W _ W C - .., '' projects • Montage Hotel. Beverly Hills, Spa & Residences New luxury Hotel- 334,000 SF, Residences - 76,400 SF Currently under construction due to open in late 2008 Total Cost: $175 Million Awarded: LEED-NC Gold Certification April 2009 Services: LEED Consulting, Construction Partnering, & Energy Modeling • City of Beverly Hills Gardens Building New 3 story office, restaurant, &retail spaces totaling - 27,000 SF Construction completed November 2008 Total Cost: $73 Million Target: LEED-CS Silver Certification Services: LEED Consulting, Construction Partnering; & Energy Modeling • Brookfield Properties New 22nd Floor Regional Office New tenant improvement office'- 14,000 SF Construction completed June 2008 . Total Cost:$2 Million Awarded: LEED-CI Gold Certification Services: LEED Consulting & Commissioning • Lincoln Anaheim Redevelopment - Affordable Multi -Family Housing New 146 units, community area, child care, and 2 levels of subterranean parking Project is currently in Construction Phase - Target: Build it Green -Green Point Rated Services: Sustainable Consulting, Integrated Design Team & Green Charette • USC Caruso Catholic Center New Catholic Church and Student Center - 19,000 SF Project is currently in Construction Documents` Phase Total Cost: $15.Million ___... Target: LEED-NC Silver Certification . -... Services: LEED Consulting & Commissioning Topson Downs . Major Renovation of Office - 40,000 SF �xk Project is currently in Construction Phase Total Cost: $5.5 Million Targeting: LEED-NC Gold Certification and currently under review by the GBCI _ Services- LEED Consulting & Commissioning z W W s' g projects(continued) • 8th & Grand — Astani Enterprises New 15 Story, Mixed -use development, 430 units of residential - 470,000 SF . Project is currently in Design Development Phase Total Cost: $150 Million Targeting: LEED-NC Certified Certification Services: LEED Consulting & Energy Modeling • Building J, Shops at River Walk & Building A, River Walk Corporate Center - Castle & Cooke Core & Shell Development Total - 126,700 SF Construction completed April 2009 Total Cost: $18 Million Awarded: LEED-CS Certified &Silver Certification respectively Services: LEED Consulting & Construction Partnering • Regency Tower - Silagi Development New 10 Story, Core &Shell Development Total - 249,700 SF Project is currently in Construction Phase Total Cost: $74 Million Awarded: LEED-CS Silver Certification Services: LEED Consulting& Construction Partnering R -_ • Concerto - Astani Enterprises k = New 28 Story, Mixed -use with 271 units of residential - 315,200 SF Project is currently in Construction Phase Total Cost: $120 Million Targeting:, LEED-NC Certified Certification Services: LEED Consulting & Construction Partnering Fire Station 194 New La. Habra Fire Station - 6,700 SF Project is currently in Construction Phase Total Cost: $1.5 Million Target`. LEED-NC Certified Certification Services: LEED Consulting & Commissioning N 0 Z . .- C Z W W projects (continued) • California State University, Fullerton New Student Housing Phase 3 - 310,000 SF 1080 Bed - 6 New Buildings Project is currently in Construction Phase Total Cost: $120 Million Targeting: LEED-NC Gold Certification Services: LEED Consulting & Energy Modeling • Allan Hancock College - One Stop Student Services Center New Administration & Student Center- 60,000SF Project is currently in Construction Phase Total Cost: $12 Million Targeting: LEED-NC Silver Certification Services: LEED Consulting, Commissioning& Energy Modeling • California State University Fullerton Student Recreation Center - 90,000 SF -- Construction completed March 2008 Total Cost:. $41 Million Awarded: LEED-NC Gold Certication Services: LEED Consulting & Energy Modeling: • Acacia Middle School Modernization - _ ......- New Administration Building& Gymnasium - 19,500 SF _. Project is currently in Construction Document Phase _ Total Cost: $8 Million Targeting: LEED for Schools Silver Certication Services: LEED Consulting & Construction Partnering a� Q N O Z G W W a Jason Lorcher PE, LEED® AP .. President Mechanical Engineer PE LEEDO Accredited Professional - Certified Energy Plans Examiner, CABEC 2007 High -Performance Building Design. Professional SELECTED ASSOCIATIONS: Jason Lorcher is the Director of Green Dinosaur. He has 15 years of project experience as a Association of mechanical engineer within the AE design industry providing engineering and sustainable Energy Engineers (AEE) design expertise. Jason's experience includes project management from conceptual phase through construction completion, LEED target workshops, LEED/CHPS consulting American society of Heating, Refrigeration, services and documentation, commissioning 'services, Title 24/ASHRAE 90.1-2004 - & air-conditioning energy simulation, parametric energy modeling, and LCC analysis. He has worked on a Engineers(ASHRAE) Wide variety of projects including science, research, and. healthcare facilities, universities, United states offices, and civic, school, and retail projects. Green Building Council (usGeC) Education/Licensure California Building Bachelor of Science; Mechanical Engineering. The Ohio State University, 1993 Energy consultants - (CABEC) Licensed in the State of California, Mechanical Engineering Selected Past Project Experience . • California Regional Forensic Science Institute New Crime Laboratory, 209,000 SF - DNA Analysis, Chemistry, Biology & Trace Analysis, Teaching Labs, and Faculty Offices for California State University, Los Angeles Department of Criminalistics, LEED Commissioning Authority and . Savings by Design • Port of Los Angeles, Trapac Administration Building New design for LEED Platinum office complex - 20,000 SF LEED Consultant, assisted with LEED target workshop, continued management and review of project at milestones to comply with LEED targets. Providedparametric energy simulation to determine which energy efficiency measures provide the most energy efficient solution through life cycle costs. Savings by Design facilitation. • Project-K, SAMOO Architects, Seoul, Korea 2.5 Million SF facility, lead. LEED target workshop; LEED consulting and facilitation of team member responsibilities for achieving. LEED certification. • Science Complex, Chaffey College, Rancho Cucamonga, CA a The facilities are comprised of chemistry and biology classrooms, laboratories, O support spaces and storage areas and total approximately 36,000 SF Title 2.4 - Energy z - - Calculations - z W W. Selected Past Project Experience (continued) • San Marino Public Library, San Marino, CA - Title 24-performance calculations, Savings by. Design Parametric energy - modeling study, Complete Mechanical Design. • California State University Northridge, Student Union Complete Mechanical Design including Load Calculations, Title 24 performance calculations, Savings by Design .Parametric energy modeling study. • Calabasas City Hall & Library; Calabasas, CA Complete Mechanical Design including Load Calculations, Title 24 performance calculations, Savings by Design Parametric energy modeling study. Project designed to meet LEED-NC Gold rating. • University of California Santa Barbara, San Clemente Graduate Housing Title 24 performance calculation, LEED Energy Calculations Housing complex for 900 graduate students, 350,000 sq. ft., $140 million, Project designed to meet LEED Silver rating. • Fire Stations: San Marcos #4, San Diego #22, LA County #93 LEED Consulting and Full Commissioning Authority Services, Energy Modeling Services, LEED documentation for design through construction phases. • Veritas Software Headquarters Campus, Mountain View, CA Complete Mechanical Design including Load Calculations, Title 24 Compliance Calculations, Savings By Design Energy Modeling, Chiller/boiler plant with computer data center * for current projects, refer to Green Dinosaur project list GC a y 0 Z W W....._ "BEST IN CLASS"... Practices, Service & Products A Message from the President Customer Promise: with honesty and integrity, we will... Work hard, work smart and work efficiently on your behalf to help you achieve your project goals. Thank you for the opportunity to present our company's capabilities. We have enclosed information that illustrates Cobalt's wide array of expertise. The services we provide include general contracting and construction management for; senior and multi -family housing and mixed use construction, as well as full service heavy engineering capabilities. We believe that our heritage, diversity, expertise and approach to the construction industry uniquely distinguish us, allowing our firm to provide a''superior product, and service to our clients. These services include: Pre -Construction Services: • Consultant Coordination • Estimating and Cost Control • LEED point selection assistance and analysis •' Value Engineering and Construction Feasibility Analysis Scheduling and Construction Logistics Services Construction Services: • Public Agency Coordination' • LEED documentation compliance and. management • Ongoing assistance of Developers third -party LEED certification • Subcontract Bidding and Contracting: - . Ownei/Project Meetings • Initiation and Monitoring of Project and Procurement Schedules` • Processing of Submittals and RFI's Cobalt Construction Company. 2259 Ward Avenue. Suite 200. Simi Valley, CA 93065 Telephone 805.577.6222 . Fax 805.577.8222 . www.cobaltcc.com • Provision of Project Supervision and Management • Payment Processing • Cost Reporting • Insurance and Release Monitoring • Project Close Out Warranty Cobalt's integrated a proach to a project begins early with design review, value engineering, constructability analysis, budgeting, and scheduling. The combination of Pre construction services, Construction services and a proven expertise represented in our heavy engineering capabilities allow us to be effective members of the design team resulting in accurate estimating' predictable project cost control and a higher quality product all produced in time efficient sequencing and schedules. This results in our ability ,to deliver an efficiently -- administered, higher quality producf; faster. Time, Money, and Blue (Cobalt). Quality all wrapped up in We have taken seriously our commitment to environmental stewardship and social responsibility that come with green building practices. It is time for us to fully embrace the responsibility that building green significantly reduces power, water, and waste disposal costs, while improving the health of those who live and work in the projects we develop. Cobalt presently is assisting in the pre -construction design of a 126 unit LEED Silver project with the goal to help insure that it is environmentally responsible, profitable and a healthy place to live and work. Cobalt would very much like to be a part of your development and construction team. We - enjoy what we do and care about the product we produce, as well as the reputation that follows our work. ,I look forward to discussing ways that Cobalt can participate in your firm's success. Cobalt Construction Company Darin Kruse Darin Kruse President Cobalt Construction Company'. 2259 Ward Avenue . Suite 200. Simi valley, CA 93065 Telephone 805.577.6222. Fax 805.577.8222 . www.cobaitcc.com C Zi - • O Q7 - O O 0 O O O O O O. C) _ O O O N N t4- d -. � -0- a d _ N i "i NO cli O O _ O N- N N 0 p: - p . - OO O. O . .O • _ G C C G" C.'.; N N N. N _� -'0 L u d m Q� • Cc x m x X. o. CL a E -co Np y (D N N -G N �. O ... .. O cu cc C _a _o ° `° co a a ". fC 3 `L° m w `° a +J _° N <n N N _ C 7 cn _ N am m a 0 Q� a--� G G G G c rn m v G E a C o c� c> 0)c O p L C O O d N .0-+ N N 'V) .0 _ co UCDN d N CD T> d N cu N O t t cu L d _ _- --- - - • O st O O O ui O O O M ^ /J :W • _� O ^ -^ O O O N 06 O ^ (V — O N O N O O N ^ O N O I - (D Lo n N -. CY) 0D 'd' CV)r' O O M '°- N N_. M 0: - N N M _ ^ W �' 00 0 v'7.-N. CV N "L- (4.0 N-. CO. O O - n CD.. .". .. _.. " y�q. 64 cam- L. • _ G ' j �- N C C (/� 'C 'C a_+ +� .. ". +� .. j "O O OVA C ^- 7. •aN.� y +.+ a.+ -=O _' ///}}}0�� O 5 m M N N N 01 d CD 11 0)CD +� N a0 _ co• N L .+_' to _+.NO -a 'c0 f0CL " U �v �a wci L Y ,. v a xcl� °� y x co rn 1° d cxocu u a ~ _ o _N o o o o a o m N. c C CD E CD G L o o N- 7 V O ¢ N ¢ CL Q C " - - a.+ O _ N C aL+ U C _ . Co -d1 C .D _ -0 .0 _0 ._. ...- vYi cjj _ a+ 0 LZ U m o E O. G E G cu G o L Q a w a v m m = What People Are Saying About Cobalt Construction... Agave "our investigation of this firm clearly indicates a. company thoroughly versed in the construction industry with great depth of experienced people who have become well known for their ability to complete jobs on schedule and within budget, complemented with excellent workmanship. We - found their relationships with subcontractors and suppliers to be far above average; which we feel, are of great importance to a well -run project. Philip E. Vega Contractors & Developers Bonding "I'd like to commend Cobalt for its competence and responsiveness. We value the work you have done, and look forward to many more years of success with Cobalt Construction." John Huskey, Meta Housing Corporation "Very professional staff, good communication and courteous. Staff does an excellent job working with the CRA." Hector Garcia, Community Redevelopment Agency of the City of Los Angeles "Cobalt's ability to work alongside designers, inspectors and equity partners, combined with their experience, has resulted in an excellent finished product, under budget and ahead of schedule." John Hrovat, Urban Partners, ;LLC "Your company's vast knowledge from the commencement of grading all the way to the installation of the final finish details was always competent and helpful throughout the entire construction process." David J. Nagel, Decron Properties Cobalt Construction Company; 2259 Ward Avenue . Suite 200. Simi Valley, CA 93065 Telephone 805.577.6222. Fax 805.577.8222 . www.cobaltcc.colll John Archibald, Vice President Aaron Wooler - Casden Properties Operating Partnership Century Housing Corporation 9090 Wilshire Blvd 1000 Corporate Pointe, Suite 200 Beverly Hills, California 90211 Culver City, California 90230 (310) 385-5063 (310) 642-2057 John Huskey, President John L. Hrovat, Principal Meta Housing Corporation Urban Partners, LLC - - 4100 W. Alameda Avenue, Suite 205 The Bradbury Building 304 S. Broadway Burbank, California 91505 Los Angeles, California 90013 (818) 559-2412 ext. 110 (213) 437-0470 Jorden Segraves Jim Bond Jorden Segraves Architect Keller CMS - 8.00 South El Camino Real, Suite 204 304 S. Broadway Suite 400 - --- San Clemente, California 92672 Los Angeles, California 90013 (949) 276-2276 (213) 346-9030 Jim'Liberty John Cotton J.R. Liberty & Associates, Inc. John Cotton Architects 1690 Placentia Avenue Suite B 3816 Main Street Costa Mesa, California 92627 Culver City, California 90232 (949) 574-3023 (310) 558-8616 David Nagel Bryan Kent Decron properties Corp. KKG 6222 Wilshire Boulevard, Suite 650 1538 Howard Access Road, Suite A Los Angeles, .California 90048 Upland, California 91786 (323) 556-6600 (909) 982-0222 COMPANY QUALIFICATIONS Corporate Offices: Optimus Construction, Inc 440 Western Ave., Suite 202 Glendale CA 91201 - (818) 550-8411 Voice (818) 550-9411 Fax www.optimUsconstruction.com Number of Years as a Licensed Contractor Thirty -two (32) years Years Licensed 1979 (Licensed Corporation 2007) Ownership: California Corporation Date of Corporation: July2007; Corporate California State Contractors 902939 License Number- Chief Officer Jeffrey P. Boysen, President - Geography of Services State of California Trades Performed General Construction, Construction Management, Job Supervision, by Own Forces Finish Carpentry, and Construction Labor Payment and - Performance Bonds 100% of Current Projects - . Total Worth Work In Progress $45,024,012 Average Annual Amt of Construction: $18;000,000 op �a �rYus www.OptimusConstruction.com CORPORATE PROFILE Optimus Construction was founded by Jeffrey P. Boysen, a licensed General Contractor in California since 1979..For over thirty years, Mr. Boysen has been responsible for the construction of residential and commercial projects. The list of project types include: custom high -end residential, single family production homes, both affordable and market rate.multi- unit and family apartments, condominiums as well as commercial office, medical and retail construction. Optimus specializes in building quality housing in sensitive community environments where complex construction staging and project logistics are required. Working closely with funding agencies such as The City of San Bernardino Economic Development Agency, Los Angeles Housing Department and Community Redevelopment Agency of the City of Los Angeles. Optimus assures compliance with Equal Opportunity employment, Local Hire, and CRA/LA Project Laborer requirements: The company and its principals have`a diverse range of experience providing General Contracting, Construction Management and Owner Representative. Services. The ability to adapt and overcome defines Optimus as a company that is flexible, proactively communicates with project participants, and delivers value. Through a depth of experience as. Construction Managers we assisted owners, developers and institutions to better manage their projects. The Optimus Construction team possesses expertise and experience in general contracting, coupled with the knowledge and business acumen of credentialed professionals The Optimus management system employs a combination of industry best practices and proprietary processes developed over three decades of construction and project management experience. The company f maintains strong and direct relationships with #< over 600 pre -qualified sub -contractors; many of whom specialize in the construction of multi -unit housing projects. _ The entire staff embraces a unique awareness for the value of time, money and quality; these values are reflected in the day to day operations of Optimus Construction. Starting fast from pre -construction and finishing strong through project completion and close-out, Optimus provides industry leading professional general contracting services - that deliver value to development partners, lending institutions and local communities. Recent multi -unit housing clients include: Meta Housing Corporation, Symphony Hudson Development and the City of Fountain Valley, CA Opt ONS i � S T.RUCTION INC. www.OptimusConstruction.com C R E S U M E( Jeffrey. Boysen, President PRESIDENT Opti,mus Construction Inc.; Glendale, California - Mr. Boysen started a General Construction company that specializes in developing quality affordable housing. These market rate -apartments include multi -family and senior apartments. In the general contracting roll Optimus provides: hiring knowledge of industry and process, meeting and exceeding expectations; foresee the unforeseeable; assurance of value; continuous and active communication with -project participants; and balancing the Ownersinterest with the project interest. In Panorama City, Currently in construction is 150 unit senior housing complex for $31.5 Million and will feature a large courtyard with a water feature, spa, a large community room, computer and multimedia room, outdoor barbeques and tables, gym, -kitchen; library, and laundry room. PRESIDENT Building Solutions, Inc.; Glendale, California In. 2000, Mr. Boysen established this firm to assist owners, developers and institutions to better manage their projects. The company provides a varied list of construction and entitlement related services including due diligence programs, project and feasibility analyses, cost estimating and project pro forma, asset management, field inspections and reports, funding control services, value engineering, construction documentation review, contractor negotiations and selection, project scheduling, construction management, systems and operations evaluations, loss prevention programs and competitive bidding` programs. Clients include cities, churches, private developers and the Archdiocese of Los Angeles. Acting in the capacity of Construction Managers / General Contractors the firm has managed and/or built commercial, multi -family, production housing, condominiums and custom residential projects. These projects include market rate as well as subsidized projects, rental and senior housing projects. VICE PRESIDENT- PARTNER BMC,, lnc., Toluca Lake, California Joined BMC asa Vice President inthefall of 1997. Primary responsibilities included the project management of specific projects, contract administration for all projects, new business development, and he day to day management of the cash flow for the corporation. Acting as the Prime General Contractor BMC completed many projects during this period. Some oftheprojects Mr. Boysenwas specifically incharge ofwerea 10,000 S.F., 7.5 million dollar custom home in Beverly Hills, CA, the rehabilitation of over 800 existing apartment - units, located on seven separate sites, including the construction of new community centers with a total: _ contract value of in excess of 10 million dollars, and a 15 unit condominium in Pasadena CA consisting of one layer of subterranean parking, one on -grade level of parking, and four floors of residential, project sales exceeded 6 million dollars. Opts rrus CONS TRUCTION INC. - www.OptimusConstruction.com R E S U M E Jeffrey Boysen, President PRESIDENT CONSTRUCTION PLANNING & MANAGEMENT COMPANY (CPM), Burbank, California Established and headed firm to assist lenders, owners and developers to successfully complete a wide variety of commercial and residential construction projects. Oversaw the interest of the building and lending communities by providing due diligence programs, project and feasibility analysis, cost estimating and project pro forma, asset management, general contracting services, field inspections and reports, funding control services, value engineering, construction documentation review, contractor negotiations and selection; project scheduling, construction management, systems and operations evaluations, loss prevention programs and competitive bidding programs. During the period from 1995 to 1997 one of the hall mark projects Mr. Boysen was personally responsible for was Saint James's Village, located in Reno, Nevada. Serving in the capacity of Construction Manager / Owner Representative, Mr. Boysen was accountable for the overall development, sales, marketing and all construction activities for both St. James'Village and St. James' Resort. The project encompassed 522 one acre home sites, coordination of the design and entitlements for an 18-holeTom Fazio golf course, 350 unit hotel, 150 villas, club house, spa and equestrian center. Mr. Boysen was also an ex officio member of the Architectural & Landscape Committee and was the founding President of the Homeowners'Association. EXECUTIVE VICE-PRESIDENT U.S. HOUSING CORPORATION, Burbank, California The Responsible Managing Officer, accountable for all design development, entitlement processing and construction activities for $35 million per year company. Directly impacted growth by initiating and implementing controls and procedures which brought the activities up from $500,000. Introduced and developed computer assisted systems to improve project performance. Supervised over 45 employees including: project managers, superintendents, administrative assistants, accounting personnel, clerical, and field personnel Directly managed day-to-daycash management, successfully processed and obtained entitlements from over 50jurisdictional agencies, including the California Coastal Commission, OSHPOD, Office of State Architect, Cal Trans, Department for Toxic Substance Control, EPA, and Department of Federal Highways. OWNER J.P. BOYSEN CONSTRUCTION & DEVELOPMENT, Lake Tahoe, California Owned and operated framing company. Additionally, developed and built, on a spec basis, several custom homes and duplexes, including buying the land, obtaining financing, construction and managing the sales effort. Managed eight full-time employees. . op' s www.OptimusCohstruction.com CONSTRU CTI.O N INC. RESUME Optimus Personnel ROBERT GIBSON, Vice President of Construction Robert Gibson has over'20 years of construction experience, including field supervision and. project management. Robert spent 4 years in the USMC before matriculating from the Plumbing -Heating -Cooling Contractors -National Association and Glendale City College to the construction field. Robert has managed custom high end residential, tenant improvement, luxury condominium projects and affordable housing communities. He was responsible for preconstruction issues, including budgeting, scheduling and buyouts. Robert is currently the project manager fora multimillion dollar projects that are affordable and market - rate apartment communities for seniors. Responsibilities include contract and subcontract negotiations, preconstruction services, estimating, budgeting, and coordinating all of the parties involved in the construction process. EMILY GELLER, Vice President of Operations Prior tojoining Optimus Construction Emily worked for Networkcar as the Northwestern District Manager. She worked atNetworkcar for 4 year and was responsible for all direct and indirect sales in 10 states in the Northwestern Region. She managed 50 plus resellers in this network and personally handled 25 direct sales opportunities. At Optimus Construction, Emily plans, organizes, directs, and controls the activities of the Operations function of the company -'She is responsible for performance of all departments'functions as well as - works with new business opportunities and marketing campaigns. Emily maintains client relations, account management, project coordination, and project compliance. She continues to build relationships with clients and networks with target companies that will build future activity. Emily has her Bachelor of Science in Business Management from San Diego State University and a M.B.A. from University of La Verne. TANIA PEREIRA BOYSEN, LEED AP, Senior Project Manager Tania Boysen has overtwelveyears of experience in the construction industry managing new construction, modernization, and tenant improvement projects in both the public and private sectors. Tania manages senior housing, affordable family apartments parish and school projects. She assists developers and churches with strategic. planning; programming;, entitlement and permit processing; estimating; scheduling; budget tracking and cost control; value engineering; contract negotiations; and consultants, contractor and subcontractor management. Tania successfully, guides projects through the conceptual and entitlement phases establishing and maintaining the overall budget, schedule, and owner design requirements. She approaches her work with a confident and collaborative manner that. has established trust and respect with owners, design team members, municipal staff, contractors and vendors. Tania holds her general contracting license in the State of California, is a LEED® Accredited Professional and has a Bachelor of Fine Arts Degree from Emerson College. • CON S T R •' INC.www.OptimusConstruction.com - RESUMEI Optimus Personnel Robert's duties include evaluating upcoming technologies, determining how to apply current and future technologies to solve development and construction related problems, establishing and maintaining proper vendor relationships, and ensuring that currently deployed technologies have appropriate levels of stability, utilization, and capacity. AS Well as project accounting to ensure accuracy, completeness, timeliness and profitability of subcontract and otherjob costs. Robert has 10 years of construction experience. Robert's previous experience was at Seagram's in the re - engineering department and at Parsons as a communication specialist. Robert is a graduate of USC with a Bachelor of Science in Business Administration and an M.B.A. from Pepperdine University. GEORGE LOPEZ, Project Superintendent Since 1985 George has supervised Type I;Type III and Type V construction projects; he has experience with multi -family and mixed use complexes including subterranean parking. George also has experience with executive offices, recording studios, custom homes, complete earthquake retrofitting of both buildings and parking structures. George completed Andalucia Senior Apartments in July 2010 and is currently is the superintendent of The Magnolia at Highland an eighty (80) unit senior apartment community. JEFF CURDES, Project Superintendent Jeff has over 30 years experience in the construction industry. Starting as a estimator and working up to Superintendent. Jeff worked on the LAX American Airlines Terminal 4'Renovation as a Superintendent He was in charge of renovation of terminal gates and hold rooms as well as work in support of new baggage handling systems. He was also responsible for overseeing a high end award winning 146 unit apartment building in downtown Hollywood and has completed over 300 Playa Vista Condominium units successfully within budget and on schedule. Jeff has his AA in General Studies with emphasis on Construction management from Cal State Dominguz Hills. Jeff is currently the Superintendent for the NoHo Senior Arts Colony project in North Hollywood. DANIEL HUGHES, Project Superintendent Danny has over 20 years of experience in the construction industry. Throughout his career in construction he has built everything from single family homes, podiums, 3 story apartments over subterranean parking structures. He has held the positions of Assistant Superintendent, Superintendent, Assistant Project Manager, Construction Manager and Owner /Developer. Danny has extensive knowledge and experience in the areas of"Onsites and Offsites i.e. wet utilities, dry utilities, retaining walls, landscaping, Mechanical/Plumbing/Electrical, design builds, model homes, clubhouses, swimming pools/spas, elevators, single story homes, two story homes, two story townhomes, three story condominiums, four story apartments, subterranean parking structures, tenant improvements; retail shops and restaurants. Danny is currently the superintendent for the Sherman Village Apartments project located in Reseda. opt i � TRU C T I O N INC. www.OptimusCoristruction.com N S . . ' REFERENCES Present Clients Architects - -- Mr. John Huskey Mr. Edward R. Niles Meta Housing Corporation Edward R. Niles,`FAIA President (310) 457-3603 (310) 575-3543 Mr. John Tegtmeyer Dr. Bruce Gillis TDMA Architects --- President (323) 254-9200 _.... (310) 470-7373 Mr. William Burch Past Clients William Burch Architects, Inc. (31.0) 372-8808 Mr. Ted Snyder The Martin Group Mr. Ken Stockton (818) 399-9784 Ken Stockton Architect (818) 888-9443 x202 Dr. Bruce Gillis President Mr. Richard Prantis (31.0) 470-7373 Prantis Solares Studio (323) 954-9996 Mr. Joe Furnish Lake Street Associates Personal (818) 241-2621 Mr. John Bell Professional - Bell Financial _..- (626) 441-0022 Mr. Terry Jackson CPA Jackson & Arshagouni Mr. Don Dean (818) 242-5602 Blu Construction (818) 507-7050 Mr.T.Y .Hayes - Isu Vansa (818) 755-6139 0. pt�rrR�us CTIwww.OptimusConstruction.com REFERENCES Trade �# 1'YZaS www.bpiimusConstruction.com CON 5 T R U C T 1 0 N I N C GENERAL CONTRACTOR: SELECTED PROJECTS Sam Andalucia Senior Apartments Cantabria Senior Apartments Van Nuys, CA, 2010 Van Nuys, CA, 2009 94 unit Senior Housing Complex 81 unit Senior Housing Complex Funded by Low Income Housing Tax Credits Owner: Cantabria Senior Apartments, L.P. - Owner: Andalucia Senior Apartments, L.P. Funded by Low Income Housing Tax Credits Architect: Ken Stockton Architect Architect: Ken Stockton Architect Project Value: $17,700,000 Project Value: $16,000,000 Asturias Senior Apartments - ... Van Nuys, CA, 2009 69 unit Senior Housing Complex Funded by Low Income Housing Tax Credits - Owner: Asturias Senior Apartments, L.P. Architect: Ken Stockton Architect Project Value: $15,000,000 The Hudson Das Lieber Haus Pasadena, CA, 2002 Pasadena, CA, 2007 15-unit luxury condominium project with approximately_ 3,900,square foot custom home. 1,800 sq. ft. per unit. Owner: Rick Lieber Owner: Symphony Hudson Development, LLC Architect: OJMR/Arianne Groth Architect: Heffner Architects Project Value: $1,000,000 - -- Project Value:$4,500,000 Country Lane Estates Court's Hill CA,1990 i! 117 single family detached homes. rt , Owner. U.S. Housing, Inc. - Architect: VCA - Randy Washington, AIA Project Value: $11,500,000 Op .. ■ �'° °'s www.OptimusConstruction.com ___ GENERAL CONTRACTOR: SELECTED PROJECTS 8:1 z z'3rN p� Xf�3 � Gillis Res�c�ence , Kenwood Plaza Gillis Residence - Toluca Lake, CA,1989 Beverly Hills, CA, 2003 20,000 square foot office building. 10,000 square foot residence composed primarily of metal Owner: U.S. Housing, Inc. and glass. Architect: Eugene Roach, AIA - Owner: Dr. & Mrs. Bruce Gillis Project Value: $2,500,000 Architect: Edward R. Niles, FAIA Project Value: $7,500,000 Tri-City Plaza Key Largo -- Vista, CA,1985 Hollywood, CA,1989 40,000 square foot retail shopping center. 110-unit condominium conversion. Owner: U,S. Housing, Inc. Owner: U.S. Housing, Inca Project Value:$5,000,000 Project Value:$2>500,000 Lyons Avenue Medical Center . Valencia, CA,1989 Tenant Improvements 60,000 square foot medical center. Various Owner: U.S. Housing, Inc. Other projects include tenant improvement for the Architect: Gin Wong &Associates headquarters of Lawyer Mutual Insurance, ABC Olympic Project Value: $7,500,000 Facilities, Santa Clarita Surgery Center, Western Security Bank (3 facilities), Swimmer, Cole, Martinez & Curtis, ABC Silverdd0 (KLOS Radio Station), Columbia Savings & Loan, Isotope Laps, Warner, Electra Asylum Records, renovations for Lancaster, CA,1989 the Beverly Hills Hilton Hotel, and numerous medical & 120 single family detached homes. general office tenant improvements. Owner:: U.S. Housing, Inc. Architect; Larry Robins, AIA Project Value: $12,000,000 pptir�s - C C N. S,1 R U C T i O N, INC _ _ _ www.OptimusConstruction.com fVf OFFICE OF THE CITY CLERK 4305 Santa Fe Avenue, Vernon, California 90058 Telephone (323) 583-8811 November 5, 2012 Meta Housing Corporation ATTN: John M. Huskey, President 1640 S. Sepulveda Blvd., Suite 425 Los Angeles; CA 90025 Re: Resolution No. 2012-195 - A Resolution of the City Council of the City of Vernon Accepting the Bid of Meta Housing Corporation and Approving and Authorizing the Execution of an Agreement to Negotiate Exclusively By and Between the City of Vernon and Meta Housing Corporation for the 52"d Drive Housing Development Project Dear Mr. Huskey: Transmitted herewith is an original fully executed agreement as referenced above, approved by the City Council of the City of Vernon on October 16, 2012 through Resolution No. 2012-195. If you have any questions regarding this matter, please contact me at (323) 583-8811 Ext. 286. Very truly yours, �DA arcia Deputy City Clerk AB/yb Enclosure EXAsively IndustriaC CITY CLERK'S OFFICE INTEROFFICE MEMORANDUM DATE: October 31, 2012 TO: Samuel Kevin Wilson, Director of Community Services and Water FROM: Ana Barcia, Deputy City Clerk RE: Resolution No. 2012-195 - A Resolution of the City Council of the City of Vernon Accepting the Bid of Meta Housing Corporation and Approving and Authorizing the Execution of an Agreement to Negotiate Exclusively By and Between the City of Vernon and Meta Housing Corporation for the 52" d Drive Housing Development Project Transmitted herewith is a copy of Resolution No. 2012-195 referenced above, which was approved by City Council on October 16, 2012. Thank you. AB: yb Attachment c: Resolution No. 2012-195 Yesenia Ramirez