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HomeMy WebLinkAbout2016-029 I RESOLUTION NO. 2016-29 2 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF 3 SAN BERNARDINO APPROVING A COMPENSATION AGREEMENT BETWEEN 4 THE CITY OF SAN BERNARDINO AND THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO'S TAXING ENTITIES PURSUANT 5 TO HEALTH AND SAFETY CODE SECTION 34180 (f) (1) FOR THE NO COST TRANSFER OF 542 N. MT. VERNON AVENUE (APN 0138-115-13) FROM THE 6 SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF 7 SAN BERNARDINO TO THE CITY OF SAN BERNARDINO AND APPROVING CERTAIN RELATED ACTIONS. 8 WHEREAS, pursuant to Health and Safety Code (the "HSC") § 34172 (a) (1), the 9 Redevelopment Agency of the City of San Bernardino was dissolved February 1, 2012; and 10 WHEREAS, consistent with the provisions of the HSC, the Mayor and Common 11 Council of the City of San Bernardino (the "City") previously elected to serve in the capacity of 12 the Successor Agency to the San Bernardino Redevelopment Agency (the "Successor Agency"); 13 and WHEREAS, the Oversight Board for the Successor Agency (the "Oversight Board") 14 has been established pursuant to HSC § 34179 to assist in the wind-down of the dissolved 15 redevelopment agency; and 16 WHEREAS, the former Redevelopment Agency of the City of San Bernardino (the 17 "Former RDA") established certain operating practices, funding allocation procedures, and 18 general oversight requirements for the San Bernardino Economic Development Corporation 19 ("SBEDC"), which constituted the basis of that certain Project Funding Agreement, dated March 20 1, 2011 ("2011 SBEDC Agreement"), between the former RDA and the SBEDC; and WHEREAS, on July 27, 2011, the California Superior Count entered a Default Judgment 21 that validated the 2011 SBEDC Agreement, which had the effect of validating the actions taken 22 by the Former RDA, inclusive of the following finding; "The restructuring of the manner in 23 which the Agency conducts its governmental functions as set out in the Resolutions, and all 24 matters related thereto, are valid, legal and binding acts of the Agency in accordance with their 25 terms and were and are in conformity with applicable provisions of all laws and enactments at 26 any time in force or controlling upon such proceedings whether imposed by law, constitution, statute or ordinance, and whether federal, state or local, and are legal, valid and binding 27 28 1 I obligations under the Constitution and laws of the State of California as of the date of their enactment."; and 2 WHEREAS, for the purpose of implementing the 2011 SBEDC Agreement, the SBEDC 3 periodically received funding allocations from the former RDA sources to finance the activities 4 authorized by the 2011 SBEDC Agreement; and 5 WHEREAS, in addition to financial assistance and pursuant to the 2011 SBEDC 6 Agreement, during March and April of 2011, the Former RDA authorized the transfer of certain 7 real property assets of the Former RDA to the SBEDC; and WHEREAS, on December 22, 2015, the Successor Agency received its Finding of 8 Completion (the "FOC") from the California Department of Finance (the "DOF") pursuant to 9 HSC § 34179.7; and 10 WHEREAS, pursuant to HSC § 34191.5 (b), the Successor Agency prepared a long- 11 range property management plan (the "LRPMP") to dispose of the real property of the Former 12 RDA and submitted its LRPMP to the Oversight Board and subsequently to the DOF; and 13 WHEREAS, the Oversight Board's Resolution No. SBOB/2015-09, approving the final version of the LRPMP was submitted to DOF on September 15, 2015; and 14 WHEREAS, per HSC § 34191.5 (b), on December 31, 2015, the DOF approved the 15 final version of the LRPMP and pursuant to HSC § 34191.4 (a) the properties delineated therein 16 were thereafter transferred to the "Community Redevelopment Property Trust Fund" for 17 administration by the Successor Agency consistent with the LRPMP; and 18 WHEREAS, among other things, the LRPMP describes seven (7) real property sites 19 that are designated to be retained by the City for future development (the'"Future Development 20 Sites"); and WHEREAS, consistent with the LRPMP, Future Development Sites are to be 21 transferred to the City after the City has entered into an HSC § 34180 (f) (1) compensation 22 agreement with the Taxing Entities, as defined in HSC § 34171 (k), that receive pass-through 23 payments and distributions of property taxes with respect to the Former RDA's redevelopment 24 project areas; and 25 WHEREAS, this Resolution concerns the real property commonly known as Assessor 26 Parcel Number 0138-115-13, consisting of approximately 0.95 acres of improved land located at 542 N. Mt. Vernon Avenue, in the City of San Bernardino, County of San Bernardino, 27 California, and more particularly described in Chapter IV. Property to be Transferred for Future 28 2 I Development, Site No. 25, pages 121-125 ("Site No. 25" or "the "Site") of the LRPMP and is incorporated herein by this reference and attached hereto as Exhibit"A"; and 2 WHEREAS, on January 10, 2005, the Former RDA entered into a lease with El Paseo 3 Petroleum LLC to develop Site No. 25 as an ARCO AM/PM; and 4 WHEREAS, prior to completing the improvements on the Site, El Paseo abandoned the 5 Site and defaulted on its lease (El Paseo was later acquired by another company and no longer 6 exists); and 7 WHEREAS, on February 14, 2011, the Former RDA terminated the lease; however, as 8 a part of the El Paseo lease, El Paseo borrowed approximately $1.9 million from Stonefield, Inc. to finance Site development costs, which was secured by a lien on the Site, and currently 9 remains unpaid; and 10 WHEREAS, during 2011, the Former RDA entered into negotiations with ACCA I1 Holdings ("Haddad"), a current ARCO AM/PM operator, to take over Site development and 12 subsequently its operations; and 13 WHEREAS, the Former RDA and Haddad (the "Parties") anticipated entering into a 14 Disposition and Development Agreement ("DDA")to enable Haddad to purchase the Site; and WHEREAS, in order to expedite the process, the Parties agreed to an intermediate step 15 of entering into a lease to enable Haddad to immediately begin to complete Site development 16 and subsequently operate the ARCO AM/PM; and 17 WHEREAS, on May 19, 2011, on behalf of the Former RDA, the SBEDC leased the 18 Site to Haddad for the purpose of re-opening/operating the ARCO AM/PM; and 19 WHEREAS, concurrently on May 19, 2011, on behalf of the Former RDA, the SBEDC 20 borrowed $1.9 million (the "2011-Loan Agreement") from Haddad for the purpose of paying off the leasehold mortgagee, Stonefield, Inc., that financed the improvements installed by El 21 Paseo; and 22 WHEREAS, the 2011-Loan Agreement was evidenced by a promissory note and secured 23 by a deed of trust and assignment of rents, thereby replacing Stonefield, Inc. with Haddad; and 24 WHEREAS, the Parties anticipated that the 2011-Loan Agreement would be converted 25 to the purchase price of the Site per a DDA, the DDA would then supersede the lease, and the 26 Site would be transferred to Haddad in lieu of loan payment; and WHEREAS, shortly thereafter, the State of California ended redevelopment 27 implementation in California, which prevented the Parties from entering into a DDA; and 28 3 1 WHEREAS, through the Recognized Obligation Payment Schedule (the "ROPS") 2 process, DOF denied the Successor Agency's obligation to repay on the 2011-Loan Agreement; 3 and 4 WHEREAS, the term of the $1.9 million 2011-Loan Agreement has expired, the loan 5 has matured and is now in default; and 6 WHEREAS, based on the foregoing, Haddad has requested a deed in lieu of foreclosure 7 and has provided the Successor Agency forbearance to allow the matter to be resolved through the redevelopment agency wind-down process; and 8 WHEREAS, consistent with the LRPMP, the Site is to be transferred by the Successor 9 Agency to the City for future development with the $1.9 million 2011-Loan Agreement lien in 10 place; and 11 WHEREAS, the City intends to extinguish the $1.9 million 2011-Loan Agreement lien 12 by providing Haddad with a deed in lieu of foreclosure which will result in no land sales 13 proceeds; and WHEREAS, consistent with the LRPMP, Future Development Sites are to be 14 transferred to the City after the City has entered into an HSC § 34180 (f) (1) compensation 15 agreement with the Taxing Entities, as defined in HSC § 34171 (k), that receive pass-through 16 payments and distributions of property taxes with respect to the Former RDA's redevelopment 17 project areas; and 18 WHEREAS, the Taxing Entities entitled to a share of the pass-through payments and 19 distributions of property taxes with respect to the Former RDA's redevelopment project areas are as follows: 20 21 Taxing Entities General Tax Levy Share 22 a. San Bernardino City 0.17160900 23 b. San Bernardino County 0.14731316 c. San Bernardino County (ERAF) 0.22306840 24 d. San Bernardino County Flood Control Zone 2 0.01918094 e. San Bernardino County Flood Control Zone 3 0.00689005 25 f. San Bernardino County Flood Control Admin 1 & 2 0.00134890 g. San Bernardino County Flood Control Admin 3-6 0.00023852 26 h. San Bernardino County Superintendent of Schools 0.00645416 27 i. San Bernardino Community College District 0.05177623 j. San Bernardino Valley Municipal Water District 0.02666223 28 k. San Bernardino Valley Water Conservation District 0.00049938 4 1. Colton Joint Unified School District 0.05324890 1 m. Redlands Unified School District 0.04080439 2 n. Rialto Unified School District 0.00223967 o. San Bernardino City Unified School District 0.24727271 3 p. Inland Empire Resource Conservation District 0.00131695 q. Riverside-Corona Resource Conservation District 0.00007640 4 5 WHEREAS, the purpose of this Resolution is to approve the Compensation Agreement which will permit the Successor Agency to convey Site No. 25 to the City for future 6 development, as described within Exhibit"A," at no cost to the City, and ultimately to Haddad in 7 lieu of the $1.9 million loan payment; and 8 WHEREAS, the City now wishes to enter into this Compensation Agreement with the 9 Taxing Entities for the purpose of implementing the LRPMP with respect to Site No. 25; and 10 WHEREAS, this Resolution has been reviewed with respect to applicability of the 11 California Environmental Quality Act (the "CEQA"), the State CEQA Guidelines (California Code of Regulations, Title 14, § 15000 et seq., hereafter the "Guidelines"), and the City's 12 environmental guidelines; and 13 WHEREAS, this Resolution does not constitute a "project" for purposes of CEQA, as 14 that term is defined by Guidelines § 15378, because this Resolution is an organizational or 15 administrative activity that will not result in a direct or indirect physical change in the 16 environment, per § 15378 (b) (5) of the Guidelines. 17 NOW, THEREFORE, IT IS HEREBY RESOLVED, DETERMINED, AND ORDERED BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN 18 BERNARDINO, AS FOLLOWS: 19 Section 1. The foregoing recitals are true and correct and are a substantive part of 20 this Resolution. 21 Section 2. The Successor Agency has prepared a Compensation Agreement as 22 attached hereto as Exhibit`B." 23 Section 3. The Mayor is authorized and directed to execute the Compensation Agreement. 24 Section 4. This Resolution is not a "project" for purposes of CEQA, as that term is 25 defined by Guidelines § 15378, because this Resolution is an organizational or administrative 26 activity that will not result in a direct or indirect physical change in the environment, per § 15378 27 (b) (5) of the Guidelines. 28 Section 5. This Resolution shall take effect upon the date of its adoption. 5 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF 1 SAN BERNARDINO APPROVING A COMPENSATION AGREEMENT BETWEEN 2 THE CITY OF SAN BERNARDINO AND THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO'S TAXING ENTITIES PURSUANT 3 TO HEALTH AND SAFETY CODE SECTION 34180 (f) (1) FOR THE NO COST TRANSFER OF 542 N. MT. VERNON AVENUE (APN 0138-115-13) FROM THE 4 SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF 5 SAN BERNARDINO TO THE CITY OF SAN BERNARDINO AND APPROVING CERTAIN RELATED ACTIONS. 6 I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor 7 and Common Council of the City of San Bernardino at a joint regular meeting thereof, held on the 16`x' day of February, 2016, by the following vote, to wit: 8 9 Council Members Ayes Nays Abstain Absent 10 MARQUEZ X 11 BARRIOS X 12 VALDIVIA X 13 SHORETT X 14 NICKEL X 15 JOHNSON X MULVIHILL X 16 L- 17 L,. GeorgeVfi Hanna, C4, City Clerk 18 The foregoing Resolution is hereby approved this / da 4 February;0 16. 19 20 R. Carey Davis, ayor 21 City of San Be ardino Approved as to Form: 22 Gary Saenz, City Attorney 23 By. Fi n, 24 25 26 27 28 6 1 EXHIBIT "A" 2 Chapter IV. 3 Property to be Transferred for Future Development 4 Site No. 25, pages 121-125 of the LRPMP 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 7 2016-29 t i i Successor Agency to the Rederelopment Agency of the City of San Bernardino Long-Range Property Alanagement Plan Septennber 2015 Anu•u,l,d bc,onher 2015 Site No. 25: ARCO Gas Station Address: 512 X it/t. Vernon Avenue APAV- 0138-115-13 rvT t ,"J 1hJ ,7' ;��1 .nf y •• rt .): Ii ;lJEF �, ; ' IIn 1 1 t r.+.71{r .eviEi 1� xa. ;.. Ytk s a"R3 .o4t � k,�yPo.* 4kt",}'a •• . 8 Y� .,�"°""+s• i.'3 'ri "sk �! f+i �� �'�t-s, .r k*F-y � 1•• ". t.,• �•�j � � ,�.t-.��C L� �::_} a•l7, - E t .....f; 121 1V Property to be Transfen•ed for Future Development Site No.25—ARCO Gas Station 2016-29 Successor Agency to the Redevelopment Agency of the Cry ojSan Bernardino Long-Range Propero,AranagementPlan September 2015 Ain.•udrd 17.':rehir?QI S Site No. 25: ARCO Gas Station A. Permissible Use(HSC.834191.5(c)(2)): Site No. 25 is the ARCO Gas Station(the"Gas Station") and is proposed to be transferred to the City of San Bernardino for future development pursuant to HSC §34191.5 (c)(2). B. Acquisition ofProperty(MC S 341915(c) (1) (A) and�34191.5(c) (1) (B)): Property records indicate that the Gas Station was acquired by the Agency several separate transactions and carries a total Book Value of$768,380. The following table details the property records: Book Original APNs as Historical Background APN Acquisition Date Vahte Act aired b A ency August 2005 $35,522 0138-115-02 On May 27,2008,Parcel August 2004 $49,907 0138-115-03 Map 17809 was recorded, 0138-115-04 thereby creatin APN 0138- 0138-115.13 September 2005 $270,437 0138-115-05 115-13. g June 2001 $309,486 0138-115-06 February 2006 $103,028 1 0138-115-07 The Gas Station was acquired by the Agency in order to benefit the residents of the surrounding areas,and the City as a whole,by providing a gas station to meet their needs. The estimated current value(the"ECV")of the Gas Station is approximately$1,950,000. C. Site Information(HSC S 34191.5(c) (1) (0): The Gas Station consists of one (1) 0.95-acre parcel (APN 0138-115-13) located at 542 N. Mt. Vernon Avenue. Gas Station improvements were constructed in 2008 and include a convenience store(approximately 3,000 sf),fuel island canopy(approximately 5,000 sf),and a car wash building (approximately 900 sf). The Gas Station is zoned Commercial General(CG-3)in the 1992-Paseo Las Placitas Specific Plan (the "1992-SP"). The purpose of the CG-3 zone is to allow for local and regional serving retail, personal service,entertainment,office,and related commercial uses. D. Estimated Current Value(HSC 634191.5(c) (1) (D)): To determine an ECV for the Gas Station Property, in January 2015, the Agency conducted a comparable sales analysis through the National Data Collective. The ECV was determined to be approximately$1,950,000. Local factors were not taken into consideration in determining the ECV of this site. Therefore,the actual value of the property may vary significantly from the ECV. The ECV is only a rough estimate planning number and should not be relied upon as a basis for actual value. The real value of the property cannot be determined without an appraisal. 122 IV Property to be Transferred for Future Development Site No.25—ARCO Gas Station 2016-29 Succe.uor Agency to the Redevelopment Agency of the City of Son Bcnnnrdino Lang-Range Property A&nragennent Plan September 1015 bileu;l:d 1k.crahei?015 Site No. 25: ARCO Gas Station E. Site Revenues(HSC S 34191.5(c) (1) (E-2): One dollar($1.00)in annual rent is generated from the Gas Station Property. On January 10,2005,the Agency entered into a lease(the"2005-Lease")with El Paseo Petroleum. The 2005-Lease was terminated by the Agency for abandonment and default. The current lease (the"2011-Lease"),dated May 11,2011, is with A&A Holdings(the"Tenant"). The terms of the 2011-Lease hold the Tenant responsible for all taxes, utilities, and maintenance and repair of the property. Concurrently with the execution of the 2011-Lease, the Tenant is making a loan to the San Bernardino Economic Development Corporation(the SBEDC")in the amount of$1,900,000, which amount is being paid to Leasehold Mortgage Stonefield,the construction lender,as current payment of the Note and Deed of Trust on the Gas Station Property. F. History ofEnvironrnental Contarttinrrliorr (HSC$34191.5(c) (1) There is no known history of environmental contamination" G. Potential for Transit Or leuted Development(TOD)and theAdvrmeerttertt ofPlartning Objectives of the Successor Agency(HSC$34191.5(c) (1) (�.' There is no potential for a TOD in conjunction with Gas Station Property. Mount Vernon Avenue is a major north-south roadway located in the western portion of the City. Mount Vernon Avenue connects to the 30 and 215 freeways on the northern end,and Interstate 10 to the south. Historic Route 66 runs north along a portion of Mount Vernon Avenue from Foothill Boulevard/5''' Street north to Cajon Boulevard,where it continues north through the Cajon Pass. The transfer of the ARCO Gas Station for future development to the City of San Bernardino advances the planning objectives of the Successor Agency in accordance with the City's General Plan,Paseo Las Placitas Specific Plan and EIR,and the Agency's Five-Year implementation Plan 2009/2010 through 2013/2014: 1. Maintain and enhance commercial uses along main thoroughfares such as Mt. Vernon Avenue; 2. Protect large parcels that front onto freeways and commercial corridors from subdivision into smaller parcels; 3. Establish and maintain an ongoing liaison with Caltrans; 4. Capture appropriate demand that meets the community's needs and takes full advantage of emerging development and economic opportunities; 5. Provide opportunities for private investment in the City; 6. Encourage pedestrian friendly uses; 3,ht ii eotracker waterboards ca 4ovl maonCMD=runrerwrt&mvaddress=542+n+mt+vernon+san+bernardino 123 Ii!Property to be Transferred for Future Development Site Ato.25—ARCO Gas Station 201629 Successor Agen g to the Redevelopment Agency ojthe City of Sots Bernarfino Long•Ronge Property d 6nmgement Plan September 2015 ,4mdnd'd 1 1rci uiLc-r 2015 Site No. 25: ARCO Gas Station 7. Achieve greater private sector profit,public benefit,and sustainability;and 8. Maximize opportunities that generate taxable sales in targeted growth areas. H. Histot v ofPt evious Development Proposals and Activity(HSC S 34191.5(c)(1) (H)): January 2005, the Agency entered into a Dispositions and Development Agreement (the "2005- DDA") with El Paseo Petroleum, LLC, (the "Developer")to construct and operate a gas station ("Phase-1")on the northwest corner of W. 5`h Street and N. Mt.Vernon Avenue. The Agency was to acquire six(6)parcels for Phase-I of the 2005-DDA. January 2005,Neighborhood Redevelopment Lease was executed between the Developer and the Agency. February 2006,land assembly for Phase-1 was completed by the Agency. May 2008, Parcel Map 17809 was recorded thereby establishing a new parcel,APN 0138-115-13. June 2008,the 2005-DDA was amended to require,among other items,the Developer to purchase the underlying land (Phase-1) from the Agency upon funding of the permanent loan, for an appraised value to be determined at such time. The sale of the land did not occur and the Agency entered into a lease with the Developer. August 2008, the Developer entered into a construction contract for the construction of the gas station. March 2010,the Developer opened the gas station for business. August 3,2010,the Developer was sued by its construction contractor for lack of payment. December 2,2010,the Developer closed the gas station pending a new agreement with a petroleum supplier. February 1,2011,lease is terminated with Developer. February 14,2011,2005-DDA is terminated with Developer. May 2011,Agency(SBEDC on behalf of the Agency)executed new Lease with ACCA Holdings (Ed Haddad)for the refurbislunent and re-opening of the ARCO AM/PM with a Car Wash. May 2011,Agency(SBEDC)executed Promissory Note in favor of ACCA to"borrow"$1,900,000 to buy the construction lender note. May 2011, Agency (SBEDC on behalf of the Agency)executed Deed of Trust w/Assignment of Rents to ACCA to secure the$1.9M Promissory Note. 124 IV Properh,to be Transferred for Future Development Site No.25—ARCO Gas Station 2016-29 Successor Agency to the Redevelopment Agency of the City of San Benmrdino Long-Range Proper4 Afanagenfent Plan Seplemher 2015 Am,mkd 10/j Site No. 25: ARCO Gas Station July 2011,A&A Holdings reopened gas station. L Disposition of Property: The City's policies and procedures for property disposition,located in Exhibit"A"Section I1,will guide the disposition of the Property. The ECV of the Gas Station is approximately$1,950,000. The following process was used in determining the ECV of the Gas Station Property: Date of estimated current value—January 2015 Value Basis — The ECV was determined by a comparable sales analysis using the National Data Collective subscription service. The ECV is approximately$1,950,000. Local factors that may affect land value were not taken into consideration. Therefore,the actual value of the property may vary greatly from the ECV. The ECV is only a planning number and should not be relied upon as a basis for actual value. J. Implementation ol'the Long-Range Property Manrrgernent Plan: The Gas Station Property will be transferred to the City of San Bernardino for future development subsequent to securing an HSC § 34180 (f) (1) compensation agreement (the "Compensation Agreement")with the affected taxing entities,or as may otherwise may be provided by the HSC. 125 IV.Property to be Transferred for Future Development Site Alo.25—ARCO Gas Station I EXHIBIT "B" 2 Compensation Agreement 3 (NOT FOR SIGNATURE) 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 8 2016-29 COMPENSATION AGREEMENT (542 N. Mt. Vernon Avenue,San Bernardino, CA-- APN 0138-115-13) THIS COMPENSATION AGREEMENT (this "Agreement") is made and entered into, effective as of the date defined herein (the "Effective Date"), by and among the City of San Bernardino, a California municipal corporation (the "City"), and the affected taxing entities as defined in California Health and Safety Code("HSC") § 34171 (k) (the"Taxing Entities") and as more particularly described herein. The City and the Taxing Entities are collectively referred to herein as "Parties" or individually referred to as a"Party." RECITALS WHEREAS, pursuant to Health and Safety Code (the "HSC") § 34172 (a) (1), the Redevelopment Agency of the City of San Bernardino was dissolved February 1,2012; and WHEREAS, consistent with the provisions of the HSC, the Mayor and Common Council of the City of San Bernardino (the "City") previously elected to serve in the capacity of the Successor Agency to the San Bernardino Redevelopment Agency (the "Successor Agency"); and WHEREAS, the Oversight Board for the Successor Agency (the "Oversight Board") has been established pursuant to HSC § 34179 to assist in the wind-down of the dissolved redevelopment agency; and WHEREAS, the former Redevelopment Agency of the City of San Bernardino (the "Former RDA") established certain operating practices, funding allocation procedures, and general oversight requirements for the San Bernardino Economic Development Corporation ("SBEDC"), which constituted the basis of that certain Project Funding Agreement, dated March 1, 2011 ("2011 SBEDC Agreement"), between the former RDA and the SBEDC; and WHEREAS,on July 27, 2011, the California Superior Count entered a Default Judgment that validated the 2011 SBEDC Agreement, which had the effect of validating the actions taken by the Former RDA, inclusive of the following finding; "The restructuring of the manner in which the Agency conducts its governmental functions as set out in the Resolutions, and all matters related thereto, are valid, legal and binding acts of the Agency in accordance with their terms and were and are in conformity with applicable provisions of all laws and enactments at any time in force or controlling upon such proceedings whether imposed by law, constitution, statute or ordinance, and whether federal, state or local, and are legal, valid and binding obligations under the Constitution and laws of the State of California as of the date of their enactment."; and WHEREAS, for the purpose of implementing the 2011 SBEDC Agreement, the SBEDC periodically received funding allocations from the former RDA sources to finance the activities authorized by the 2011 SBEDC Agreement; and 1 2016-29 WHEREAS, in addition to financial he Former RDA authorized the transOferlof certDain Agreement, during March and April o real property assets of the Former RDA to the SBEDC; and WHEREAS,on December 22, 2015, the Successor Agency received its Finding of Completion (the "FOC") from the California Department of Finance (the "DOF") pursuant to HSC § 34179.7; and WHEREAS, pursuant to HSC § 34191.5 (b), the Successor Agency prepared a long- range property management plan (the Ove�rsiMht Board and subsequently tot e DOF; and Former RDA and submitted its LRPMP to g WHEREAS, the Oversight Board's Resolution No. SBOB/2015-09, approving the final version of the LRPMP was submitted to DOF on September 15,2015; and WHEREAS, per HSC § 34191.5 (b), on December 31, 2015, the DOF approved the final version of the LRPMP and pursuant to HSC § 34191.4 (a)the properties delineated therein were thereafter transferred to the "Community with the LRPMP; nderty Trust Fund" for administration by the Successor Agency consistent WHEREAS, among other things, the LRPMP describes seven (7) real property sites that are designated to be retained by the City for future development (the "Future Development Sites"); and WHEREAS, consistent with the LRPMP, Future Development Sites are to be transferred to the City after the City has entered into an HSC § 34180 (f) (1) compensation agreement with the Taxing Entities, as defined in HSC § 34171 (k), that receive pass-through payments and distributions of property taxes with respect to the Former RDA's redevelopment project areas; and WHEREAS, this Agreement concerns the real property commonly known as Assessor Parcel Number 0138-115-13, consisting of approximately 0.95 acres of improved land located at 542 N. Mt. Vernon Avenue in the City of San Bernardino, County of San Bernardino, California, and more particularly described in Chapter IV. PropeLty Property to be Transferred for Future Development, Site No. 25, pages 121-125 ("Site No. 25" or "the "Site") of the LRPMP and is incorporated herein by this reference and attached hereto as Exhibit"A"; and WHEREAS, on January 10, 2005, the Former RDA entered into a lease with El Paseo Petroleum LLC to develop Site No. 25 as an ARCO AM/PM; and WHEREAS, prior to completing the as later acquired ed the Site, El Paseo abandoned the no longer Site and defaulted on its lease (El Paseo q exists); and WHEREAS, on February 14, 2011, the Former RDA terminated the lease; however, as a part of the El Paseo lease, El Paseo borrowed approximately $1.9 million from Stonefield, 2 2016-29 to finance Site development costs,which was secured by a lien on the Site, and currently remains unpaid; and WHEREAS, during 2011, the Former RDA entered into negotiations with ACAA, Limited Partnership ("Haddad"), a current ARCO AM/PM operator, to take over Site development and subsequent operations; and WHEREAS, the Former RDA and Haddad (the "Parties") anticipated entering into a Disposition and Development Agreement("DDA")to enable Haddad to purchase the Site; and WHEREAS, in order to expedite the process, the Parties agreed to an intermediate step of entering into a lease to enable Haddad to immediately begin to complete Site development and subsequently operate the ARCO AM/PM; and WHEREAS, on May 19,2011,on behalf of the Former RDA,the SBEDC leased the Site to Haddad for the purpose of re-opening/operating the ARCO AM/PM; and WHEREAS, concurrently on May 19, 2011, on behalf of the Former RDA, the SBEDC borrowed $1.9 million (the "2011-Loan Agreement")from Haddad for the purpose of paying off the leasehold mortgagee, Stonefield, Inc., that financed the improvements installed by El Paseo; and WHEREAS, the 2011-Loan Agreement was evidenced by a promissory note and secured by a deed of trust and assignment of rents,thereby replacing Stonefield, Inc. with Haddad; and WHEREAS, the Parties anticipated that the 2011-Loan Agreement would be converted to the purchase price of the Site per a DDA, the DDA would then supersede the lease, and the Site would be transferred to Haddad in lieu of loan payment; and WHEREAS, shortly thereafter, the State of California ended redevelopment implementation in California, which prevented the Parties from entering into a DDA; and WHEREAS, through the Recognized Obligation Payment Schedule (the "ROPS") process,DOF denied the Successor Agency's obligation to repay the 2011-Loan Agreement; and WHEREAS, the term of the$1.9 million 2011-Loan Agreement has expired,the loan has matured and is now in default; and WHEREAS, based on the foregoing, Haddad has requested a deed in lieu of foreclosure and has provided the Successor Agency forbearance to allow the matter to be resolved through the redevelopment agency wind-down process; and WHEREAS, consistent with the LRPMP, the Site is to be transferred by the Successor Agency to the City for future development with the $1.9 million 2011-Loan Agreement lien in 3 2016-29 place;and WHEREAS, the City intends to extinguish the $l.9 million 2011-Loan Agreement lien by providing Haddad with a deed in lieu of foreclosure which will result in no land sales proceeds; and WHEREAS, consistent with the LRPMP, Future Development Sites are to be transferred to the City after the City has entered into an HSC § 34180 (f) (1) compensation agreement with the Taxing Entities, as defined in HSC § 34171 (k), that receive pass-through payments and distributions of property taxes with respect to the Former RDA's redevelopment project areas; and WHEREAS, the Taxing Entities entitled to a share of the pass-through payments and distributions of property taxes with respect to the Former RDA's redevelopment project areas are as follows: Taxing Entities General Tax Lew Share a. City of San Bernardino 0.17160900 b. San Bernardino County 0.14731316 c. San Bernardino County (ERAF) 0.22306840 d. San Bernardino County Flood Control Zone 2 0.01918094 e. San Bernardino County Flood Control Zone 3 0.00689005 f. San Bernardino County Flood Control Admin 1 &2 0.00134890 g. San Bernardino County Flood Control Admin 3-6 0.00023852 h. San Bernardino County Superintendent of Schools 0.00645416 i. San Bernardino Community College District 0.05177623 j• San Bernardino Valley Municipal Water District 0.02666223 k. San Bernardino Valley Water Conservation District 0.00049938 1. Colton Joint Unified School District 0.05324890 m. Redlands Unified School District 0.04080439 n. Rialto Unified School District 0.00223967 o. San Bernardino City Unified School District 0.24727271 p. Inland Empire Resource Conservation District 0.00131695 q. Riverside-Corona Resource Conservation District 0.00007640 NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are acknowledged, the Parties hereby agree as follows: 1. Incorporation of Recitals: The foregoing recitals are true and correct and are a substantive part of this Agreement. 2. Purpose: This Agreement is an HSC § 34180 (f) (1) compensation agreement entered into with the Taxing Entities, defined in HSC § 34171 (k), that receive pass-through payments and distributions of property taxes with respect to the Former RDA's redevelopment project areas. 4 2016-29 3. Approval of Conveyance and Compensation: Pursuant to the approved LRPMP, the Successor Agency's conveyance of Site No. 25 to the City for future development and the City's subsequent transfer of Site No. 25 to Haddad pursuant to a deed in lieu of foreclosure that will extinguish the financial obligation created by the $1.9 million 2011-Loan Agreement resulting in no land sales proceeds to be distributed to the Parties is approved. 4. Effective Date: This Agreement shall be effective on the date that the last Taxing Entity executes this Agreement (the "Effective Date"). Subsequent to the Effective Date, the Successor Agency is authorized to convey Site No. 25 to the City. 5. Ambiguities: Any rule of construction to the effect that ambiguities are to be resolved against the drafting Party does not apply in interpreting this Agreement. 6. Integration: This instrument constitutes the entire Agreement between the Parties with respect to the subject matter hereof and supersedes all prior offers and negotiations, oral or written. 7. Amendments: This Agreement may be modified only in writing and only if approved and executed by the Parties. 8. Governing Law: This Agreement shall be construed and interpreted according to the laws of the State of California. 9. Counterparts: This Agreement may be executed in one or more counterparts, each of which will be considered an original, but all of which together will constitute one and the same instrument. IN WITNESS WHEREOF, the Parties have executed this Agreement as of the dates indicated below. CITY OF SAN BERNARDINO call Date: � �/ �/� R. Careyyfavis, Mayor ATTEST: Approved as to Form: Gary D. Saenz, City Attorney By: eorgeann Han4l, City Clerk 5 2016-29 TAXING ENTITIES SAN BERNARDINO COUNTY, A political subdivision of the State of California Dated: By: James Ramos, Chairman Board of Supervisors ATTEST: LAURA WELCH, Clerk of the Board of Supervisors: By: Deputy SAN BERNARDINO COUNTY (Educational Revenue Augmentation Fund,ERAF) By: Date: SAN BERNARDINO COUNTY LIBRARY By: Not Applicable Date: SAN BERNARDINO COUNTY FIRE DEPARTMENT By: Not Applicable Fire Chief Date: 6 2016-29 SAN BERNARDINO COUNTY FLOOD CONTROL Dated: BY: San Bernardino County Flood Control District APPROVED AS TO FORM: JEAN RENE BASLE County Counsel By: Deputy County Counsel 7 2016-29 TAXING ENTITIES (Continued) SAN BERNARDINO COUNTY SUPERINTENDENT OF SCHOOLS By: Ted Alejandre,Ed.D., Superintendent Date: 8 2016-29 TAXING ENTITIES (Continued) INLAND EMPIRE RESOURCE CONSERVATION DISTRICT By: Chairperson Date: 9 2016-29 TAXING ENTITIES (Continued) RIVERSIDE-CORONA RESOURCE CONSERVATION DISTRICT A public agency By: Alfred Bonnett President Date: 10 2016-29 TAXING ENTITIES SAN BERNARDINO VALLEY MUNICIPAL WATER DISTRICT Dated: By President By: General Manager ATTEST: By: Secretary APPROVED AS TO FORM AND EXECUTION: Counsel By: 11 2016-29 TAXING ENTITIES (Continued) SAN BERNARDINO VALLEY WATER CONSERVATION DISTRICT By: President, Board of Directors Date: 12 2016-29 TAXING ENTITIES (Continued) SAN BERNARDINO COMMUNITY COLLECE DISTRICT By: Bruce Baron, Chancellor Date: 13 2016-29 TAXING ENTITIES (Continued) COLTON JOINT UNIFIED SCHOOL DISTRICT By: Jerry Almendarez, Superintendent Dated: ATTEST: By: APPROVED AS TO FORM: By: 14 2016-29 TAXING ENTITIES (Continued) Date: REDLANDS UNIFIED SCHOOL DISTRICT By: Representative 15 2016-29 TAXING ENTITIES (Continued) Date: RIALTO UNIFIED SCHOOL DISTRICT By: 16 2016-29 TAXING ENTITIES (Continued) Date: SAN BERNARDINO CITY UNIFIED SCHOOL DISTRICT By: 17 2016-29 EXHIBIT A Chapter IV. Property to be Transferred for Future Development Site No. 25, pages 121-125 of the LRPMP 18 2016-29 COMPENSATION AGREEMENT (542 N. Mt. Vernon Avenue, San Bernardino, CA -- APN 0138-115-13) THIS COMPENSATION AGREEMENT (this "Agreement") is made and entered into, effective as of the date defined herein (the "Effective Date"), by and among the City of San Bernardino, a California municipal corporation (the "City"), and the affected taxing entities as defined in California Health and Safety Code ("HSC") § 34171 (k) (the "Taxing Entities") and as more particularly described herein. The City and the Taxing Entities are collectively referred to herein as "Parties" or individually referred to as a "Party." RECITALS WHEREAS, pursuant to Health and Safety Code (the "HSC") § 34172 (a) (1), the Redevelopment Agency of the City of San Bernardino was dissolved February 1, 2012; and WHEREAS, consistent with the provisions of the HSC, the Mayor and Common Council of the City of San Bernardino (the "City") previously elected to serve in the capacity of the Successor Agency to the San Bernardino Redevelopment Agency (the "Successor Agency"); and WHEREAS, the Oversight Board for the Successor Agency (the "Oversight Board") has been established pursuant to HSC § 34179 to assist in the wind-down of the dissolved redevelopment agency; and WHEREAS, the former Redevelopment Agency of the City of San Bernardino (the "Former RDA") established certain operating practices, funding allocation procedures, and general oversight requirements for the San Bernardino Economic Development Corporation ("SBEDC"), which constituted the basis of that certain Project Funding Agreement, dated March 1, 2011 ("2011 SBEDC Agreement"), between the former RDA and the SBEDC; and WHEREAS,on July 27, 2011, the California Superior Count entered a Default Judgment that validated the 2011 SBEDC Agreement, which had the effect of validating the actions taken by the Former RDA, inclusive of the following finding; "The restructuring of the manner in which the Agency conducts its governmental functions as set out in the Resolutions, and all matters related thereto, are valid, legal and binding acts of the Agency in accordance with their terms and were and are in conformity with applicable provisions of all laws and enactments at any time in force or controlling upon such proceedings whether imposed by law, constitution, statute or ordinance, and whether federal, state or local, and are legal, valid and binding obligations under the Constitution and laws of the State of California as of the date of their enactment."; and WHEREAS, for the purpose of implementing the 2011 SBEDC Agreement, the SBEDC periodically received funding allocations from the former RDA sources to finance the activities authorized by the 2011 SBEDC Agreement; and 1 2016-29 WHEREAS, in addition to financial assistance and pursuant to the 2011 SBEDC Agreement, during March and April of 2011, the Former RDA authorized the transfer of certain real property assets of the Former RDA to the SBEDC; and WHEREAS,on December 22, 2015, the Successor Agency received its Finding of Completion (the "FOC") from the California Department of Finance (the "DOF") pursuant to HSC § 34179.7; and WHEREAS, pursuant to HSC § 34191.5 (b), the Successor Agency prepared a long- range property management plan (the "LRPMP") to dispose of the real property of the Former RDA and submitted its LRPMP to the Oversight Board and subsequently to the DOF; and WHEREAS, the Oversight Board's Resolution No. SBOB/2015-09, approving the final version of the LRPMP was submitted to DOF on September 15, 2015; and WHEREAS, per HSC § 34191.5 (b), on December 31, 2015, the DOF approved the final version of the LRPMP and pursuant to HSC § 34191.4 (a) the properties delineated therein were thereafter transferred to the "Community Redevelopment Property Trust Fund" for administration by the Successor Agency consistent with the LRPMP; and WHEREAS, among other things, the LRPMP describes seven (7) real property sites that are designated to be retained by the City for future development (the "Future Development Sites"); and WHEREAS, consistent with the LRPMP, Future Development Sites are to be transferred to the City after the City has entered into an HSC § 34180 (f) (1) compensation agreement with the Taxing Entities, as defined in HSC § 34171 (k), that receive pass-through payments and distributions of property taxes with respect to the Former RDA's redevelopment project areas; and WHEREAS, this Agreement concerns the real property commonly known as Assessor Parcel Number 0138-115-13, consisting of approximately 0.95 acres of improved land located at 542 N. Mt. Vernon Avenue in the City of San Bernardino, County of San Bernardino, California, and more particularly described in Chapter IV. Property to be Transferred for Future Development, Site No. 25, pages 121-125 ("Site No. 25" or "the "Site") of the LRPMP and is incorporated herein by this reference and attached hereto as Exhibit"A"; and WHEREAS, on January 10, 2005, the Former RDA entered into a lease with El Paseo Petroleum LLC to develop Site No. 25 as an ARCO AM/PM; and WHEREAS, prior to completing the improvements on the Site, El Paseo abandoned the Site and defaulted on its lease (El Paseo was later acquired by another company and no longer exists); and WHEREAS, on February 14, 2011, the Former RDA terminated the lease; however, as a part of the El Paseo lease, El Paseo borrowed approximately $1.9 million from Stonefield, 2 2016-29 Inc. to finance Site development costs, which was secured by a lien on the Site, and currently remains unpaid; and WHEREAS, during 2011, the Former RDA entered into negotiations with ACCA Holdings ("Haddad"), a current ARCO AM/PM operator, to take over Site development and subsequent operations; and WHEREAS, the Former RDA and Haddad (the "Parties") anticipated entering into a Disposition and Development Agreement ("DDA")to enable Haddad to purchase the Site; and WHEREAS, in order to expedite the process, the Parties agreed to an intermediate step of entering into a lease to enable Haddad to immediately begin to complete Site development and subsequently operate the ARCO AM/PM; and WHEREAS, on May 19, 2011, on behalf of the Former RDA, the SBEDC leased the Site to Haddad for the purpose of re-opening/operating the ARCO AM/PM; and WHEREAS, concurrently on May 19, 2011, on behalf of the Former RDA, the SBEDC borrowed $1.9 million (the "2011-Loan Agreement") from Haddad for the purpose of paying off the leasehold mortgagee, Stonefield, Inc., that financed the improvements installed by El Paseo; and WHEREAS, the 2011-Loan Agreement was evidenced by a promissory note and secured by a deed of trust and assignment of rents, thereby replacing Stonefield, Inc. with Haddad; and WHEREAS, the Parties anticipated that the 2011-Loan Agreement would be converted to the purchase price of the Site per a DDA, the DDA would then supersede the lease, and the Site would be transferred to Haddad in lieu of loan payment; and WHEREAS, shortly thereafter, the State of California ended redevelopment implementation in California, which prevented the Parties from entering into a DDA; and WHEREAS, through the Recognized Obligation Payment Schedule (the "ROPS") process, DOF denied the Successor Agency's obligation to repay the 2011-Loan Agreement; and WHEREAS, the term of the $1.9 million 2011-Loan Agreement has expired, the loan has matured and is now in default; and WHEREAS, based on the foregoing, Haddad has requested a deed in lieu of foreclosure and has provided the Successor Agency forbearance to allow the matter to be resolved through the redevelopment agency wind-down process; and WHEREAS, consistent with the LRPMP, the Site is to be transferred by the Successor Agency to the City for future development with the $1.9 million 2011-Loan Agreement lien in 3 2016-29 place; and WHEREAS, the City intends to extinguish the $1.9 million 2011-Loan Agreement lien by providing Haddad with a deed in lieu of foreclosure which will result in no land sales proceeds; and WHEREAS, consistent with the LRPMP, Future Development Sites are to be transferred to the City after the City has entered into an HSC § 34180 (f) (1) compensation agreement with the Taxing Entities, as defined in HSC § 34171 (k), that receive pass-through payments and distributions of property taxes with respect to the Former RDA's redevelopment project areas; and WHEREAS, the Taxing Entities entitled to a share of the pass-through payments and distributions of property taxes with respect to the Former RDA's redevelopment project areas are as follows: Taxing Entities General Tax Lew Share a. City of San Bernardino 0.17160900 b. San Bernardino County 0.14731316 c. San Bernardino County (ERAF) 0.22306840 d. San Bernardino County Flood Control Zone 2 0.01918094 e. San Bernardino County Flood Control Zone 3 0.00689005 f. San Bernardino County Flood Control Admin 1 & 2 0.00134890 g. San Bernardino County Flood Control Admin 3-6 0.00023852 h. San Bernardino County Superintendent of Schools 0.00645416 i. San Bernardino Community College District 0.05177623 j. San Bernardino Valley Municipal Water District 0.02666223 k. San Bernardino Valley Water Conservation District 0.00049938 1. Colton Joint Unified School District 0.05324890 m. Redlands Unified School District 0.04080439 n. Rialto Unified School District 0.00223967 o. San Bernardino City Unified School District 0.24727271 p. Inland Empire Resource Conservation District 0.00131695 q. Riverside-Corona Resource Conservation District 0.00007640 NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are acknowledged, the Parties hereby agree as follows: 1. Incorporation of Recitals: The foregoing recitals are true and correct and are a substantive part of this Agreement. 2. Purpose: This Agreement is an HSC § 34180 (f) (1) compensation agreement entered into with the Taxing Entities, defined in HSC § 34171 (k), that receive pass-through payments and distributions of property taxes with respect to the Former RDA's redevelopment project areas. 4 2016-29 3. Approval of Conveyance and Compensation: Pursuant to the approved LRPMP, the Successor Agency's conveyance of Site No. 25 to the City for future development and the City's subsequent transfer of Site No. 25 to Haddad pursuant to a deed in lieu of foreclosure that will extinguish the financial obligation created by the $1.9 million 2011-Loan Agreement resulting in no land sales proceeds to be distributed to the Parties is approved. 4. Effective Date: This Agreement shall be effective on the date that the last Taxing Entity executes this Agreement (the "Effective Date"). Subsequent to the Effective Date, the Successor Agency is authorized to convey Site No. 25 to the City. 5. Ambiguities: Any rule of construction to the effect that ambiguities are to be resolved against the drafting Party does not apply in interpreting this Agreement. 6. Integration: This instrument constitutes the entire Agreement between the Parties with respect to the subject matter hereof and supersedes all prior offers and negotiations, oral or written. 7. Amendments: This Agreement may be modified only in writing and only if approved and executed by the Parties. 8. Governing Law: This Agreement shall be construed and interpreted according to the laws of the State of California. 9. Counterparts: This Agreement may be executed in one or more counterparts, each of which will be considered an original, but all of which together will constitute one and the same instrument. IN WITNESS WHEREOF, the Parties have executed this Agreement as of the dates indicated below. CITY OF SAN BERNARDINO c� �A Date: R. Carey avis, Mayor ATTEST: Approved as to Form: Gary D. Saenz, City Attorney By: Georgeann Han4Y, City Clerk 5 TAXING ENTITIES SAN BERNARDINO COUNTY, A political subdivision of the State of California r Dated: SEP 2 7 alla B Y: XJames Ramos, Chairman Board of Supervisors ATTEST: LAURA WEL , Clerk of t oard of Supervisors: By: Deputy SAN BERNARDINO COUNTY LIBRARY SATE SIGN OPY OF By: Not Applicable THIL ERED TO OAR LA `" CI k o - i r Date: of ep n By SAN BERNARDINO COUNTY FIRE DINO►Oaf DEPARTMENT a,�a=YS�f By: Not Applicable Date: APPROVED AS TO FORM: JEAN-RENE BASLE County Counsel By: Michel Bla emore Chief Assistant County Counsel 6 SAN BERNARDINO COUNTY FLOOD CONTROL Date: 7 2CI By: James Ramos, Chairman Board of Directors Go��y f Y F(pU� APPROVED AS TO FORM: HIM SIG COPY OF JEAN-RENE BASLE THI IVERED County Counsel TO _ D LA H CI S sjg of t r Y By: So ie Akins Deputy County Counsel 7 2016-29 TAXING ENTITIES (Continued) SAN BERNARDINO COUNTY SUPERINTENDENT OF SCHOOLS Ak- By: :. Ted Alejandre, u rintendent Date: kV 8 2016-29 TAXING ENTITIES(Continued) INLAND EMPIRE RESOURCE CONSERVATION DISTRICT J By: 1 Chairperson Date: 9 2016-29 TAXING ENTITIES (Continued) RIVERSIDE-CORONA RESOURCE CONSERVATION DISTRICT A public agency By: Alfre Bonnett President Date: J /� 10 2016-29 TAXING ENTITIES SAN BERNARDINO VALLEY MUNICIPAL WATER DISTRICT B Dated: 5 1 y: /'*�� ✓� dt President. Mark Bulot By: General Manager Douglas D. Headrick ATTEST: j By: Secretary APPROVED AS TO FORM AND EXECUTION: Counsel By: 11 2016-29. TAXING ENTITIES (Continued) SAN BERNARDINO VALLEY WATER CONSERVATION DISTRICT By: Z/ - ' President, Board of Directors Date: 12 TAXING ENTITIES (Continued) SAN BERNARDINO COMMUNITY COLLE DISTRIC By: Bruce Baron, Chancellor Date: OH 15- 2-01(a 13 2016-29 TAXING ENTITIES(Continued) COLTON JOINT I NIFIVI) SCHOOL DISTRICT By: 0eendarez, intendent Datef fir/ ATTEST: By: APPROW,I)� TO FORM: By TAXING ENTITIES (Continued) Date: REDLANDS UNIFIED SCHOOL DISTRICT'.. � 4 I By: Representati e 15 2016-29 TANINNG ENTITIES(Continued) Date: RIALTOO IED SCHOOL DIS By: _G 16 2016-29 TAXING ENTITIES (Continued) Date: 4zta� ��� SAN BERNARDINO CITY UN SCHOOL DISTRICT B 17 EXHIBIT A Chapter IV. Property to be Transferred for Future Development Site No. 25, pages 121-125 of the LRPMP 18