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HomeMy WebLinkAbout4.11 Arroyo Vista DDAG~~~ OF DU8~2 i9~~~ X82 `~~~~ STAFF REPORT CITY CLERK `~~r~~~~ DUBLIN CITY COUNCIL Flle # ^®^d 0-© 0^ DATE: January 19, 2010 TO: Honorable Mayor and City Councilmembers FROM: Joni Pattillo, City Manager SUBJEC Amend Disposition and Development Agreement (DDA) for Arroyo Vista EXECUTIVE SUMMARY: The City Council will consider an amendment to the Disposition and Development Agreement (DDA) for Arroyo Vista. FINANCIAL IMPACT: N/A RECOMMENDATION: Adopt Resolution Approving the First Amendment to the Disposition and Development Agreement for the Arroyo Vista Redevelopment Project with the Housing Authority of the City of Dublin, the Housing Authority of the County of Alameda, Eden Housing Inc., and Citation Homes Central. Reviewed By Assistant City Manager Page 1 of 3 ITEM NO. ~• < ~, DESCRIPTION: On July 25, 2007, the Housing Authority of the County of Alameda (HACA), the Dublin Housing Authority, the City of Dublin, Eden Housing and Citation Homes all entered into a Disposition and Development Agreement (DDA) for the redevelopment of the Arroyo Vista public housing site in Dublin. In October of that same year the parties were sued by four Arroyo Vista tenants, represented by the Public Interest Law Project and Bay Area Legal Aid, to set aside the DDA. On May 22, 2009, Department of Housing and Urban Development (HUD) approved the Dublin Housing Authority's disposition application and the plaintiffs' counsel proposed negotiations to settle the lawsuit. Negotiations were conducted over several months and approved by the HACA Commission, the Dublin Housing Authority Commission and the City of Dublin City Council, as well as Eden and Citation, and ultimately, HUD. On December 17 the settlement was approved by the court and the case dismissed. As the DDA is now over two years old, the settlement agreement calls for it to be amended to incorporate certain HUD approval conditions, including affordability provisions and the use of sales proceeds. The HACA Commission unanimously approved the Arroyo Vista DDA amendment on January 13, 2010. DISCUSSION AND ANALYSIS HUD Affordability Conditions The Dublin Housing Authority proposed, and HUD accepted, the proposal and conditioned its approval on, HACA providing Section 8 project based vouchers to the new project (49 vouchers for seniors and 32 for families). The HACA Commission authorized issuance of a Request for Proposals for project based vouchers last year. Eden Housing, developer of the rental portion of the new Arroyo Vista, applied for and was awarded 81 project based vouchers. HACA awarded these vouchers prior to HUD's approval of the disposition application. Thus, amending the DDA to include the project based voucher requirement simply documents actions already taken. The HUD approval requires Eden to market and rent the project based units to Section 8- eligible households for at least 20 years. A reverter clause will be recorded against the property stipulating that the property shall revert to the Dublin Housing Authority, or its successors and assigns, and be placed under a Declaration of Trust in favor of HUD if Eden fails to develop, operate and maintain the property in accordance with HUD's conditions. In addition, HUD imposed various conditions related to relocation of the Arroyo Vista residents. These included: provision of a list of participating Section 8 landlords with special emphasis on Dublin landlords; providing special assistance to disabled households, including reasonable accommodation; monitoring the success of voucher holders in finding housing and taking reasonable actions to ensure that success; and briefing displaced tenants on their fair housing rights and addressing any fair housing complaints that may arise. HUD's relocation conditions have been incorporated verbatim in the DDA amendment. Payment and Use of Sales Proceeds Citation Homes is paying $12 million for its portion of the property as reflected in the original DDA. This money will be used to develop the affordable rental housing. HUD's conditions, as Page 2 of 3 proposed by the Dublin Housing Authority in its disposition application, include an allocation of these proceeds as follows: • $1 million for relocation of existing residents • Up to $10 million for the family rental housing • Remainder for the senior rental housing Eden has revised the development budgets that were included in the original DDA to allocate $8.7 million for the family housing and $2.3 million for the senior housing. In addition, Eden has generally updated its development budgets to reflect current rents, construction costs and loan and equity pricing. These are attached as Exhibit B to the DDA amendment. Citation has agreed to make its payments as follows: :• $250,000 by February 1, 2010 (after all parties have signed this amendment) • $500,000 by August 1, 2010 (six months from execution of the amendment) • $11,250,000 at conveyance of the subdivided property to Eden and Citation (expected to be February 2011) Finally, the amendment provides fora $1.5 million construction loan from the City of Dublin to Eden Housing. The budgets in Exhibit B show the full amount being used as a loan for the family units. NOTICING REQUIREMENTS/PUBLIC OUTREACH: Noticing not required. ATTACHMENTS: 1. Resolution Approving the First Amendment to the Disposition and Development Agreement for the Arroyo Vista Redevelopment Project with the Housing Authority of the City of Dublin, the Housing Authority of the County of Alameda, Eden Housing Inc., and Citation Homes Central; with Attachment A - Disposition and Development Agreement (DDA) for Arroyo Vista Page 3 of 3 Imes RESOLUTION NO. - 10 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN APPROVING THE FIRST AMENDMENT TO THE DISPOSITION AND DEVELOPMENT AGREEMENT FOR THE ARROYO VISTA REDEVELOPMENT PROJECT WITH THE HOUSING AUTHORITY OF THE CITY OF DUBLIN, THE HOUSING AUTHORITY OF THE COUNTY OF ALAMEDA, EDEN HOUSING INC., AND CITATION HOMES CENTRAL WHEREAS, the Housing Authority of the City of Dublin (the "Authority") owns Arroyo Vista, a public housing development located in the City of Dublin (the "City") at 6700 Dougherty Road (the "Property"); WHEREAS, the Property is currently developed with 150 public housing units and a children's day care center, all in need of substantial rehabilitation; WHEREAS, on July 25, 2006, the Authority determined that rehabilitation was economically infeasible and decided to seek redevelopment of the Property; WHEREAS, the City is a party to that certain Disposition and Development Agreement, dated July 25, 2007, by and among the Authority, the Housing Authority of the County of Alameda ("HACA"), Eden Housing, Inc., a California nonprofit public benefit corporation ("Eden"), and SCS Development Company, a California corporation, dba Citation Homes Central ("Citation") to facilitate the redevelopment of the Property; WHEREAS, pursuant to the DDA, Citation and Eden (collectively, the "Developer") propose to redevelop the Property as amixed-income development of approximately 405 units, consisting of affordable multi-family and senior rental units, affordable and market rate for-sale units, open space, a community center and a childcare facility (the "Project"); WHEREAS, On May 22, 2009, the U.S. Department of Housing and Urban Development ("HUD") approved the Authority's disposition application for the Property, and imposed certain conditions on the use of net sales proceeds resulting from such disposition and the affordability restrictions to be imposed on the newly developed housing on the Property. On May 29, 2009, HUD amended its approval letter to correct a technical error. The HUD letters dated May 22, 2009 and May 29, 2009 are referred to collectively, hereinafter, as the "HUD Approval Letter".; WHEREAS, The Parties desire to amend the DDA in order to incorporate the conditions included in the HUD Approval Letter. NOW, THEREFORE, BE IT RESOLVED THAT THE City Council hereby approves the First Amendment to the DDA and authorizes the City Manager to execute and deliver the First Amendment to the DDA substantially in the form on file with the City Clerk. l- «-1 c~ ~ l I 2 ATTACHMENT 1 ~~~~ PASSED, APPROVED AND ADOPTEDthis 19th day of January 2010. AYES: NOES: ABSENT: ABSTAIN: Mayor ATTEST: City Clerk ~~ ~~ ATTACHMENT A ATTACHMENT ~ y~ r5 FIRST ADMENT TD DiSP4SIIT0~1 AND DEVELfJPhIE~'I' AGREEMENT {Arrtxya VLSta) Thzs F'~rst Amendnnestt to Dtspositran and De~relvpment Agreement (the "Atrrendment") is entered izito as of the _ day of January, ~O l4, by and among the Dublin Housing Authority. a public body: carpodate and politic {the "Authority"), the City of Dublin, a nnuiicipal corporation {the "City'"), the Housing Authority of the County of Alameda, a public body, coiparate and politic {"RAGA"), Eden Housing, Inc., a California nonprofit public benefit car~ratian ("`Eden"} and SCS Develap~nt Ca~mpaay, dba Citation Haines Central ("Citation'"} {Eden and Citation, collectively, the '"Developer" .and the Authority, the City,. HAC 4, Eden and Citation, callectiy~ely, the "Parties"'), with reference to the following facts: RECITALS A. This Arnendu~rt amends the Disposition and Devekrpn~ent Agreement by and among the Parties dated as of July ? 5, 2447 {the "DDA"). B. (3n May ? ~, 2449, the D.S. Department of Housing and Urban Development {'~-ii.TD'") approved the Authvrityss disposition application fprr the Property, and imposed certain conditions oa the use of net sales proceeds resulting from such dispvsitbvn and the affordability destrictions to be imposed an the newly de~.•eloped housing on the Property. C}n May 29, 2449, HUD amended its approval letter to correct a technical eiraz. The HUD letters dated May 22, ?Aa9 and May ?4, 2449 one referred to cvllecti~"ely, hereinafter, as the "HUD Appro~,~al Letter". C_ The Parties desire tv amend the DDA in order tv incorporate the conditions included. in the HUD Approval Letter. AGREEI'T NQ[~Gr THEREFORE, in considefatian of the recitals hereof and fad other good and valuable cvasideratian, the receipt and adeq~racy of which is hereby acknowledged. the Forties hereby agree as follows: 1 _ Affordability Restrictions_ Section 2.5 of the DDA. is to a+dd the follva7ng prrn~ision ai~er the first paragraph: At least 32 units in the Affordable Family Rental Hawing shall be used exclusively as project based Section $ units and marfceted to, r~erv~ed f'or, and occupied solely by eligible residents under the Section $ program for a period of not less than twenty {24) years. All X19 unitts in the Affordable Senior Rental Housing shall. be used exclusively as pdo}ect-based S units and marketed to, reserved far, and occed solely by eligible residents ua~der the Sectiad- $ program far a period of not less than twenty {24) Y~_ The grant deed conveying the Property from the Authority to Eden shall. inchule a rev~ersivn clause stipulating that the Property shall re~~edt to the authority, or its successors and assigns, and be placed under a Declaration of iaaa~~~~~saiaa.~ Attachment A -Page 2 ~~, Tnzst isr favor of HUD if ~ fails to develop, operate and maintain the Property for size uses described herein for a period of not less than riventy (20) years from the date of ss<zance of the certificate(s) of occupancy, or their substantial equivalent. Eden shall also execute a Use Agreement umth the Authority ensuring that the number of unit s described herein are developed and used as gmject-based Section 8 units for a period of not Less than twenty (20}years. 2. FinanrinQ Ternas. Section 2.8 of the DDA is hereby amended and replaced in its entirety by the follaunng: (a~ p„rr ~~ ire far the Fro ~ Conv~ved t0_C,_t=tiny The purchase lmce faf the partzan of the Property tcz be conveyed to Citation is Twelve A+lillion Dollars x$12,000,000} x"Porchase Price"~- Of this total, up to $1 million maybe used by the Authority to cv~~er costs related to relocation ofresidents of the Existing Dousing. Up to $10 million of net proceeds shall be used by the Autlzarnty as a subsidy for the Affordable Family Rental Housing. The remaining amount of net proceeds shall be used as a subsidy for the Affordable Senior Rental Housing. ~) Pavnbent of Purchase Price. Citation shall pay the Purchase Price in accordance with the fallowing: x l ~ On or before February 1, 2010, Citation will pa}~ to the Authority the sunz of Two Hvucired Fifty T~ Dollars ($? 3D,000). This sure. shall be credited toward Clue Purchase Price, and shall be nonrefundable unless the tluthorit}-fails. to relocate all residents of the Existing i-Iousing and ccnn++ey title to the De~.~eloper despite having satisified all conditions precedent described ire the At_ {~} t;,ln; or before No~rember l~, ?010, Citation will pay to the Authority the sum ofFi~~e Huridred'Tlrranrsand Dollais~ ('$504,004}_ This sum shall be credited toward the Purchase Price, and shall be nonrefundable unless the .Authority fails to relocate all residents of the Existing Housing and convey title to the Developer despite having satisfied all conditions precedeazt described irz the Agreerrzent_ x3} Upari co~e~vance of the Property to the De~~eloper, or upon such earlier date as is mutually agreed upon by the Parties, Citation will pa}~ to the Authority the sum of Eleven ikiillian Twa Hundred Fifty Tlsousand Dollars 11,250,000}~ lri the es~ent the Parties mutually agree that same ar all of this sum shall be pout to the Authority prior to conti~}r~ce of the Property. such amount shall be credited toward the Purchase Price, and shall. be nonrefundable uriless the .Authority fails to relocate all residents of the Existing Housing and rontey title to the De~r~eloper despite hat~ig satisfied all. conditions precedent described in the Agxeemenot_ (e~ C Loan. Provided that all conditions to ean~~eyaince ofthe Prapertyhave been satisfied, the City agxees to provide a loan to Eden in the amount of Une 14'lillion Five Hundred Thcnzsau~d Dollars ($1,500,00~U~dze "'C'ity Doan") to assist in f~waancng the construction of the t~iffczrdable Family Rental Hmzsng a~'`ar Affordable Senior Rental Housing. The City Loan urill be cw~denced by a nomr+ecourse promissary note, requiring payment anz a residual receipts basis on such te~rxns as the City and Eden shall mutually agree uptmT and be secured by a deed of 2 i~~a~~z~,~s r ia3.a Attachment A -Page 3 ~~ ~~ trust recorded against the affected parcels} and subordinated to Eden's rectal housing construction and permanent loans for affected parcel(s). The City Lean ~7ll be funded fallowing satisfaction of the conditions agreed upon by the City and Eden as set forth. in a Loan Ag~een;ent to be executed by the City anti Eden. The City's financial contribution to the Development is limited to the City Loan and City Relocation Funds, as such latter term is defined in Section 33(b). {d} Authority Financing_ Pro~ri,t~d that all conditions to can~;eyance of the Property had~e been satisfied, the Authority agrees to provide financial assistance to Eden in an amount up to Eleti~en Priillion Dollars {511,000,000}(the "Authority Financing„} to assist in the de4~elopment and construction of the Affordable Family Dental Hrnising and~`c~ Affordable Senior Rental Housing, as pro4-ded mare specifically in Section 2.8(a} of the DDA, as amended herein. The leans and~'or s urill be stn~ctused in such manner as the parties determine will the feast'bility of the transaction, and where relevant, its tax credit eligibility. Eden and the Authority shall execute such loan ancb`or grant agreements,. notes, deeds of trust, security agroements and other dcrcumentaticm as maybe necessary to effectuate the Authority F'inanrin~. Any portion of the Authority Financing in the form of a loan will be evidenced by a n~ prcmnisscuy' note, requiring payment on a residual receipts basis on such teams as the Authority and Eden shall mutually agreeupon- The Authority Financing, whether ifl the fcum of a loan oz grant, shall. be secured by a deed of trust recorded against the affected parc~el(s} and s<ibardinateci to Eden`s rental housing comstnufiion and permanent loans far affacted parcels). The Authority Financing will be funded with funds to be proti~ided to the Authority by Citation pursuant ro Section 2.8(ba of this Agreement, following satisfact~n of the conditions agreed upon by the Authority and Eden as set Earth in a Loan Agreeuieat to be executed by the Authority and Eden_ The Authoaity's financial contribution to the Development Compoz~ts under this Agreement is limited to the Authority Financing aad the Authorit3.~ Rebcation Funds, as such latter term. is defined in Section 3 _~(r}. 3_ Fi_~~~?t~. Exhibit B (Financing Plan,~De~~elopment Budget) is hereby amended ~d replaced in its: entirely with Exhdait B attached hereto_ ~_ Relocation. Section 4."?(d~, as Prided below, is hereby added to the DDA as a ne~~ proti~sian: ~d) Relocation R,eonzirements. The Authority shall be responsible for carrying out the relocation ofresidents fronn the Existing Housing in a ma~nex consistent ~~ith the HLJD Appro~,~al Lether, including, iri particular, the follouring= { 1 } The Authority andr'or HACA should paa~u~ide a list of participating landlords (rural list to residents to be displaced, which. should include a broad range of housing choices within the city ofDublin as ~•ell as inchuding listings in nonracially or - ethnically impacted census.. tracts~rneighbcuhoods elsewhea~e in Alameda Count}y_ {2} '1 he Authorit~t aad,~'ar HACA should ensrzre tl~e referral list eontaims other p~vpertes within the city of Dublin, to enable residents who wish to continue residency in the city to find suitable housing there_ If the referral list will not contain eseough listings in the city 3 ia~~~~.~sriea.a Attachment A -Page 4 ~~ .s of DuhliA to meet the demand, then the Authority should conduct the necessary affirtn~~tit=e marketing to pm~ate participation and increase in Dublin listings_ {3} The Authority atuL'at HACA should retirie~~ and adapt necessary pmee~dures to comply with Section 504 regulations, particularly 24 C.T'R 8.25.. 8_;28 and 8.33,. to prot^ide far special needs of displaced tenants whose househatds include persons with disabilities, including but not limited to reasonable accouuuvdatians. and other forms of assistance and counseling to ensure they are able to find suitable, accessible housing tn,eeting their family's special needs. (~} The Authority atuitar Ht~iCA should monitor the success ofvoucher- holders, taking reasonable and necessary actions to promote success afdisplaced tenants issued ~rouchers, to etuure that they are ~tually able tv find suitable replacetneni housing using their Section 8 ~rouchers. {5) The Authority and,?ar HACA should specifically brief tenants to be displaced on their tights to fair hcrosing, and infrnm them. that if they should encounter situations which they believe maybe violations affair housing laws,. that they should ittnuediately bring these to the attention of the Authority ands"ar HAC.~`~I,, antL'or HUD's DfFice of fair Housing and Equal (~pattunity, as appropriate. 5_ Surtnval. Na other pm4ision of the DDA, except as athen~tise pra~~;ded itI this Amendment, is amended, revised ar modified and all other pra~risians of the DDA shall remain in full farce and effect_ b_ Capitalized Tetras. Capitalized terms used in this Am~end~metrt, but rot defined shall hac~e the t-~eatroi~tg set Earth In the DDA. ~- ~~ Thus ~t nay be executed in an}~ number of counterparts, all ofwhich shall constitute one and the same agreement. 14b4M'4~s38 ~ I63.3 Attachment A -Page 5 ~~ i~ L~1 ~,'ITAIESS V4'HERE4F, the Parties hereto have executed this Amendment as of the date first written above. AL~URIT4': Dublin Housing Authority, a public body, corporate and politic By. Christine Csouiig Executive Director CTTY: City of Dublin. a municipal corporation By. Joni Pattillo City Manager HACA: Haaising Authart}• of the County of Alameda. a public body, eatparate and politic ~~r Chrisstrrre Gaurg Executive ~ieG#ar DEVELQPER: By. ia.sa~a~~~,~saiaa.a Eden Ho~7S.~. IrtC., a Califoania non-profit public benefit coaporation By Linda. I1~iandalini Executive Director SCS Development Carparatiaak a California corporation, dba Citation Haines Central Charles McKeag Vice President S Attachment A -Page 6 a~ ~~ TT~ FINANtL'~TG PL 4N,'DE~r~I.C)PME~4T3' BUDGET ~-. 17~eti~elapers shalt use their own funuls w pay far all casts prior to cant~eyance of die Property. Following coance, Eden will finance its sure of costs with the follow: 1. Inperim toaas from fuadinf; sources such as L.ow Iacv~e Housing Fund (LII~, Local Initiati~~e ~ Carpacation (IZSG`}, aad Lenders for Cavity De~~elapmment ~L:CD); 2. Proceeds fr~anz a pautiam of the Authority Financiag_ a~ 3. Eder-'s anrn funds ar tine of credit- citation witl use its awn foods far its share of casts bath p~riar to and fallcrn~g ca~n~veyance. B. Ia order to fund construction of ~ Developnienta Eden irrtends to apply far ar use the fallowing financita~g: Affrrrdabte Family Rental Hrnxsing a_ Either: i. 99o Law Inccyme Hausiiag Tax credits ar ii. Tax-exempt HorJds vE~ith 4°.®Lavr-Iacaa~oe He~usin~ Tax~redits and a Catiforuia of Hausiing and Cvn>mtotsnity Deti~elaprYrent (HCI~} h4iiltifamity Hcn>,sing Program ) lean b. Coran~enticamal ''permanent loan firamu a pri~-ate iostitutianal tender; c. Federal Flame Lawn SanlE's Affordable Housing Pxagram;. d. Udyer affordable housing programs; e. A poatva of the City Loam f. Up to X10' million afthe Audwrihy F+namc-ing 2. Al~'cttdabte S~or Rental Housing a. Either: i. 9~9ru Law Inccame Housing Tax credits car ii. Tax-exempt Bo~cls with ~°f`o Lau=Itncamoe Hausiag Tax-Credits and a Catifiunia t of Ixsing s~nd Cao~nit5- De~,~elap~ment {FiCD} PuZiattifarn~ily Fausing F'mgram (2vlHP} loan b. can~,~ional - 'permanent teen frown a primate instituticanal tender; e. Federal Flame Lam F3,anfc's Affa~rdable Haaxsmg ci. tJ~er affcudable housing programs; e. A pcaaiican of the City Loan; Such partian of the Auttno~rity Finaacis>g o~,at allocaUed ~ the Affordable Family Rental Haatsing citation will use its arum funds to finance alt constructiUan activity at the site, includuing demali3ian. irnpras-emenuts_ and r~~ertical canstrttictivn_ Citation does not intend to use any third gamy capital ~debR, eclta~ity, ar ~ ~ to finance dais project. 1464`A~'~i8t 163.3 B-t Attachment A -Page 7 1Vrgro 1l-esta Fawily Noosi~ 496 NNIP/MINA, New Coastrnction ~ D v ~ ~J SOURCES AND USES OF FiAOS nvnu fu4.~w.t xralM wwt sent k~, _ 1 Y rrwts. oer,n,.e.,,.~r.w~r..aoKypruiuFws t - x x,f,ar t n,enft s saor. x a sa.t~actaw.•?ru CIaaQMr FYr+astf75 nYVe s l,lOf800 Y tsw,ya s 9.574 f t1. s1t r .an-sen errrllew k9f. a.+w M1t Ptnd101awf+rtl Zlt uiYlp t ;7148m i tl744004 2914kk 1x25951 f [tF7Y! 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New Consbnction PROJECT INCOME CALCULATION N~tliils RI^isii wwsirsi awiiMMa M+ASlR: ti7iliirs 7alfi~ail7let19iYa+lfRr. ai~lfiik ~ilai iewiin A~ rwwf tai7k riwi rNw! 11 t 16R { :50 i f9 i fit i i 20N i ]38 S C9 i 253 7 i T95 i 9,580 26N f 411 i f! i X9 i i - 3pN i Spf i f9 i e)2 ! i 1,72i i 29.7)1 ]5N i Si5 S 59 i 51c i i - 80N i f6i i i4 i S!! - i i - 86N i 752 i i! 3 N3 i - i - NN i iK i 59 i Ti7 2 i 153E i ti,iN 55% L 9t9 i N i 550 - i i - f0N i +A63 i 69 i 934 1 i 2dp2 i 33,678 ncLies uni6 nfi45e1e0 k BON N% 1 73 i 103 2e1 15N i ID1 S N i 213 - i i - 20N i 46x i N i )14 7 S 982 i 11,b4 25R i 502 S N s 4t4 - i - i - >mN i 161 S N i ftf f0 i f,IN i 57<NO 75% i 767 i N i 6+f - i f - s0N i 708 i N i 7ti t7 5 93N i ftf.i46 a5N i 904 i N i iii - i i - 60N i flpp5 i N i !f7 2f i 2x.925 i x75.106 55N i t,f05 5 N i 1,057 i - { - NN i ]265 { N i 1 1fi a4 i 151552 i 1K.,iX M[415es uni6,estrtla m NR N% i 2410 f N i 1,l22 S t i me 7~2 tiR i 78i f tip i 37i i t .. ZON i 888 i 110 i 7!4 1 i 1.64' { 1x.74 2iN i N6 i 110 i x70 - f i - 70N i i9i i 110 i 5ii i i 3511 i 82.142 ]5! i i12 f af0 i 762 f i 80N i 12i f 1fp i iti ! i 8-049 f 89,ON bSR i ipL6 i ]+0 i 438 i f - NR i f,1N f 110 i i,NO i) i 5;,856 f tq,i00 NN i f27i i ,+0 i 1; 5ff - i - i - NN i +59a i 110 i 1,382 ! i 11571 f +3i.eK IneUCCS Un14 elcPoNiC8710f1 NR i 2.32D i 919 i 2Sf0 i i 811 1SR i 731 i 129 i 219 i i - MN i f1i i 129 i 7x9 4 i 1SN i ti572 3fR i fi) f R9 i fii - i i - bN i 777 i ta9 i 6N i i 7Mi i K,fR 35K f 901 S tx9 i 7'n - i i e0N i 171)6 i 529 i !07 - i i - 86R i 4,155 i 129 i 1,675 - 8 i - NN i '1246 6 Y29 i 1,fN S i fAM i p,l66 i6N i 1A24, i R! i 1.2l5 - i f - NN i ].558 i Y39 i 1g25 5 f fA25 S 17,100 nce4nef uni6+esaclei to NR NN i 2590 i 129 i 2.K1 i i ~yL fN iq,~t 1,9tM2 LCinMY Pa 4Nt Pe7NaT Pa 111111 Pef YeR RYeiPa Ya7 i - i - i - Ra4aF 1Ap'alY lncime Aas4ilMamt La>K oaa i - ii C11M CN1¢s p i - i@ fstl a.ie lint Inoemerta fblall TGC In<Cme IIec 5 =lil Ca' mate+~e Rai ier uni hmni ae[ 4 A nvil ila7mu umY Tyie telu-ba Tlef 12®9,1 Sec it 57101!,8ee ii Ralt SfecBRe1R 1.1 2 ScNI ty12 i Tf7 i 475 i 956 i 11,11@@ 1!t 2 iDN 1,242 i !34 i 301 i 116 f 7.712 2}] 3 56R 1,466 i !17 3 149 6 1,iI.7 i 19.?64 2~f 13 WR 1,166 i 1,191 f 781 f 8524 f fi'J/ 7~ 2 - 'AN 1,9Y7 i 1,N0 i !4T i f - 7~ 2 - SSN 1,947 i 1,+66 i B3f f - i 7~ Y 6 5011 1,997 i I,Si2 i ?15 i 4286 i 51,1Ji 4(a 36N 2,179 i 145 i 1,l31 5 ti31 i 21,A72 8!2 - 5pN 2,479 i t,%6 3 1,317 f 5,666 6 71.780 !2 WR SAT9 i 1,425 i 1,054 i f - F6st ~Nr iialsleut acna4lRa Reswmma anon na151c i,/lpngbMaA1 i 1.23C,a32 icewlffles Italienin anau name {LlkaAl i 4,5@@ elifaA Caolruei Dima6w sale i x,192 LwM1T•ilame i anotR C6m1*NC6I hc¢n1e i Ealtani nnClnei0. i 345,6'R ReCICON61 Vam6q Las SN i 178,x751 RalSn nlel M1JicJnCi LCii 599i/11aA1 1x11 i 111,11!1 CimFnelcNt V'iaeeY LOCI 2xiDN i E7l61R 6100IKOn1e i 1,N9.@35 7olal Ope[itlni 6Cienfe5 i 5,4N of uni f Ii31A06 Toll OlRntln@ fepensec ILMxA 1M161 i 6,400 S 1i2~06 Res6ea 8aN[ei Fee i lax Oef uni i 136.100 Reitlmll aer4+m Fee 61MaA x161 S i@0 i (7A@@ Im1la Mafalel.4x Fa O.tOWR an pnm by i16T1A1t i H.i3i ReiucemM Resenm f 506 ief unp 6 168.50@) Repleamerte Reserves tYRlaN i 5@0 S 16,W47 Nec Oiem6nl Income i N7,497 Ot9Cga'ttt Rea t.ti ACilbkTiraMSmete i )a6,153 ANIP vex aen5i i +6rm,o~ aAxN i 4x7w6 iM18A Oea aaNa f 1,~,0N 6XSN i fK0 FCSti/Mliae Dn6lefuf[C 615N 10 Ff. lum i 342,112 iena146 Np8Npl t2e0t aena 6.35N 20 YO. farm 1.56 i 7x2.454 IV1eco Fanfy 11-96 DOA MnelmM Attachment A -Page 9 S V a 0 u- H t v ~F4'~'o0ffi+~ ~g~ ~ ~~ma3idcl~ ~S~S~h a o ~ f~ m ^ N pp C!I P y~ yy N ~iyT'f l0 • r N N ,Y N ~p}p 00 Y 0 0 a~ Yl ^' 1+10 Yf p r~ O G'~EO t~u~9 ~° m a0 M O~~ W 4 10 f~ I'! 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S 752 a 31 3 721 S i E0x a 836 S 31 S 807 t2 a 7.080 S 115.724 66x S 717 a 31 S BBB - S - S - BOx f 1AD3 S 31 3 D72 10 S 0.720 S 11b.610 E/fket f 1,872 f 31 S 1.04t S a 20x i 102 i 40 S 362 - S - S - 27x a 502 a 40 a 462 S S - 3ox s eo3 s w s x3 - s - s - 3ax s m3 s 4a s ee3 - s - a - 4ox s 804 s 40 s 784 s - a - /5x a 704 s 40 s 884 - s i - 50x a 1,OD5 S 4o S 765 a a - 55X a 1,145 i 46 i 1.085 - S - S - aox s 12ob s 46 s tiCB - s - s - Eelrta a 2.010 5 4o S 1.776 1 3 a MaupeYe unit s 1 - - 207. a 464 5 48 f 416 S 3 - 25x i 584 a 4B 3 53z - a S - 3ax a e7b s ae s 648 - s - s - 35X a 812 i 48 S 764 - S S - aox s 7ze s 4e s ee4 - s a Iax a t.as s 4B s 776 - s a Sox s 1.1x4 s ae s 1,tsz - s - a - 5Ex E 1.270 a 48 a 1.228 - S S - BOX S 1.302 i 48 f 13M S i - 9rearbet a 2,32D f 46 f 22R a S 24x s 51e s 53 s +~ a - s - 2bx 5 847 a 53 a 574 - S - S - Sax a m s s3 s ri4 s - s - 36x s 706 s 53 s 853 - s - s - +mc s t.o3b a 73 s 783 - s - s - 15x a 1,tb7 5 53 a 1.112 S - a - 50x s 1275 f 53 a 1,242 - 3 - a - 55x f 1,12{ a 63 S 1..371 - S S - 86x i 1,554 a S3 S 4.701 - S - S - 1Aalwt f 2.570 a 53 i 2.SV S S ~~ hTatm[Re~4ss WL1~201i latrit6Y Per tA1R 1'ertAOtetla Per lkia Plr Yew Taal RrYatr s - S - i - test 0.00 i - 80 fJW 0 SO tYetBaeeRee Wauxuml Yu'WY T2:pC 9nrome Sec E Ftitp. ptr urN IMdo Fhre perait he4nY Seca A maal hlano ~T6pe Kaeoer Tier f700F! See 81 (flan Sec B) Rue SeoBRre 171 5 2PX 1280E 363 S 077 E 4986 E 58.03! 1 t t 10 30x 5280 S 470 E 810 S 8-100 S 0721 t; i T2 4P% 1,280 S 037 S 043 E 7.718 S 82,5 1 i S 12 30'X. 1280 S 800 a 475 S 5.706 $ 68,4Di Frst Year McaeeJEspewse Stalet~eM +-+RBMd G~ kmK R~9a~•86!SJI} E 3B&B~ -~+•.•rae~eweac;~e,a.netswsn) a - 1~sx t ap.r>wytiaee s - taaWYAiavea S - tt;r~ 4aaneou9l~ s AaionBkioaawt S 353.72 111tei~glYa[acYttsa 5x 3 (37,032 Aenidnohlila~ecYl~QM~0.1 10x s - cmm~eaal z6.9+4x s $letlli+e Cimee ktmnle ; 715A06 FmfClgaon7 Egrian E 5,400 per and i =T76,OD0 Foal Opeaebp(Mi591ur01s) i 8.406 a SeniosFae E 300 per teat a i15,Om WnidM Selvites Fee lLlRt54a~j a E00 i - traarYbipinpFee 6.1006% an pam bxi mnlrrt i (413 E 5~ per un6 a ¢5A00 Replactrtwit Reseees (EFVSA) E 500 f - NetDpReaOkioorro 3 464,575 Dtot Sennoe Woo t2 lYWahkkroe6e tereioe a 67,5 Ma1P Deft Seieoe S 3.472261 D42x a 14,583 1MSA Debt Serene 3 Q42X i Fiv Eal7ye Del[ Sereee 025x 95 yr. tam i 42.508 Semen 8 Debt Senloe b.75x 20 .tam 12 i Moyo3eraoe 1-0t0 DDAhnrmrln[ Attachment A -Page 12 4~ i~~ F , ~~ ~~ lJ .1 d' zi W S Y. a ~ ~ ~ ~~ ~ o ~ g~ ~ ~.~~ ~~: ~ ~ ~ ~44d d ~(q ~ OO ~ O _ ~O w~i~~ .r _ __ l+~Q~ ~ ~t~ _ ~ ' p _ 15 ~ ~ Ifi ~ ~ ~ N ~ ~ ~ ,. c ~ N ~, ~ Y3 000o r fir moo m g~ $S 0 ~ ooi ~ S f= F o M1 ~ ~ @F i~j ~ '' G'i I: ~ M 3i . ~ ~o ~ ~ ~ . r y ~ ~"~'~ . ~ ~~ ~ ~ C y ~ ~ `~ ~q oo q ~r~a ~K## g3da MM c~ gd yto'~~ L266 a a +~og~ ~~TTSS ~2~SS ~^ '~ ~ ~ ~ a ~ ~p Yd ~p ~d _. .,, ~0000 t R ~ p a ~(V 04 ~ ~d ~d'tl~'1~b 47O~f1 ~ S a ' p Gf y q 1(( yyl i ~ f ~ m ~ ~ ~ a =- 'v ~ '~ ~' •* ^O o44 ~ ~ ~oQ ~~ ~RQ v ~o' ~ ~i o P, '1; N p ~ ~ h h _ g ~ bG g + 83 ~ p p -~`~ `~-'' k ' ~ ~ ~, eyo od o ~n ~od ~ g`~d i~o'i it'g ~~+'og~ x w 0040 /~ 04 KiG o{ o N N f ~i ~ ~ O° ° M ~ ~ r g~ '~ ~ '~ Q. goooo BS ~g~ M ~oo ~ ~d g~dev: ~~ff w~~ d ~ ~~ ~~ a ~ ~n ~ y~ 6 a m ~ ~?s ~ bd ~ ~ ~' ~ ^.NV.. ~ ~ `~. ~ ~ ~ ~ ~d dd d ~~ ~ dd pp Q ~ d ~1+~ ~d 0 f~~p " d~ ~ O ~ mq NpN~ 01 ~ ~ S , ~~ yj , S vV~ 1 ~ O d d a d ''CC ''(( p n f ~ $ 0 0 jjtj~i ~ ~ O M d^~ p tV P g ~ d~ 0 Y g ul :~1 t~l m'~ ^ ~. 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