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HomeMy WebLinkAboutResolution - SA 22-02DocuSign Envelope ID: C2389E5A-3D99-4D63-A4F9-BB1 OBD65191 F Resolution No. SA 22-02 STATE OF CALIFORNIA ) RESOLUTION NO. SA 22-02 COUNTY OF RIVERSIDE) ss CITY OF SAN JACINTO 1 A RESOLUTION OF THE GOVERNING BOARD OF THE SUCCESSOR AGENCY TO THE SAN JACINTO REDEVELOPMENT AGENCY APPROVING A QUITCLAIM DEED CONVEYING 181 E. MAIN STREET, SPECIFICALLY IDENTIFIED AS ASSESSOR'S PARCEL NO. 437-046-010-3, FROM THE SUCCESSOR AGENCY TO THE CITY OF SAN JACINTO AS AUTHORIZED BY THE LONG RANGE PROPERTY MANAGEMENT PLAN APPROVED BY THE CALIFORNIA DEPARTMENT OF FINANCE IN DECEMBER 2015 WHEREAS, pursuant to Health and Safety Code Section 34173(d), the City of San Jacinto elected to become the successor agency ("Successor Agency") to the dissolved San Jacinto Redevelopment Agency ("Redevelopment Agency"), and pursuant to Health and Safety Code Section 34173(g), the Successor Agency is now a separate legal entity from the City; and WHEREAS, the Successor Agency owns that certain real property located at 181 E. Main Street, specifically identified as Assessor's Parcel No. 437-046- 010-3, in the City of San Jacinto, California ("Property"),- and WHEREAS, the Successor Agency prepared and the Department of Finance ("DOF") approved a Long Range Property Management Plan that calls for the disposition of the Property and distribution of the proceeds to the taxing entities, a copy of which is attached hereto as Exhibit A; and WHEREAS, Tierra West Appraisal & Land Use Dynamics, Inc. has appraised the Property and determined its market value to be $30,000; and WHEREAS, the Successor Agency has received an offer from the City to purchase the Property for its full market value of $30,000, in accordance with the Long Range Property Management Plan; and WHEREAS, the Successor Agency desires to convey the Property to the City, and the City desires to accept such conveyance of the Property for the City's use; and WHEREAS, the conveyance of the Property is exempt from the requirements of the Surplus Land Act pursuant to Government Code section 54221(0(1)(D), which exempts surplus land that is transferred from one local agency to another for the receiving agency's use; and Page 1 of 8 DocuSign Envelope ID: C2389E5A-3D99-4D63-A4F9-BB10BD65191F Resolution No. SA 22-02 WHEREAS, The City intends to engage in revitalization of the Main Street area to include a civic center and will utilize the property in furtherance of these efforts, in accordance with state law requirements; and WHEREAS, the City will incur all transactional costs related to the conveyance, and the quitclaim deed transferring the Property will not be executed or recorded until the Successor Agency receives the payment from the City in full. NOW, THEREFORE, BE IT RESOLVED, ordered, and determined by the Governing Board of the Successor Agency to the San Jacinto Redevelopment Agency, as follows: SECTION 1. Recitals. The Recitals set forth above are true and correct and are incorporated into this Resolution by this reference as findings of the Board. SECTION 2. CEQA Compliance. Pursuant to California Environmental Quality Act (Pub. Resources Code, §§ 21000 et sec .) ("CEQA") and the State and local CEQA Guidelines, the Governing Board of the Successor Agency determines that the approval of the transfer of the Property through the quitclaim deed approved by this Resolution does not commit the Successor Agency to any action that may have a significant effect on the environment. As a result, such action does not constitute a project subject to the requirements of the California Environmental Quality Act. The City Clerk, acting on behalf of the Successor Agency, is authorized and directed to file a Notice of Exemption with the appropriate official of the County of Riverside, California, within five (5) days following the date of adoption of this Resolution. SECTION 3. Transfer of Property to the City. The Governing Board hereby approves a quitclaim deed conveying the Property to the City for the purchase amount of $30,000, substantially in the form attached hereto as Exhibit B. The quitclaim deed shall not be executed or recorded until the Successor Agency receives the payment amount from the City in full. SECTION 4. Consistent with LRPMP. The Governing Board hereby finds that the disposition of the Property is consistent with and is for the purpose of implementing the Long Range Property Management Plan previously approved by DOF, Page 2 of 8 DocuSign Envelope ID: C2389E5A-3D99-4D63-A4F9-BB10BD65191F Resolution No. SA 22-02 which authorizes the disposition of the Property for distribution of the proceeds to the taxing entities. The purchase price represents the full appraised value of the Property and therefore maximizes the return to the taxing entities. The appraisal report is attached hereto as Exhibit C. SECTION 5. Further Acts. Pursuant to Health and Safety Code Section 341800), the staff of the Successor Agency is hereby authorized and directed to take any action necessary to carry out the purposes of this Resolution and comply with applicable law regarding the Property Management Plan. SECTION 6. Severability. If any provision of this Resolution or the application of any such provision to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution that can be given effect without the invalid provision or application, and to this end the provisions of this Resolution are severable. The Governing Board declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion of this Resolution. SECTION 7. Certification. The Secretary to the Successor Agency shall certify to the adoption of this Resolution. MOVED, PASSED AND ADOPTED at a regular meeting of the Governing Board of the Successor Agency to the dissolved San Jacinto Redevelopment Agency, on the 7th day of June, 2022, by the following vote: AYES: Ruiz, Ayala, Hawkins, Heath NAYS: None ABSENT: None ABSTAIN: None Page 3 of 8 DocuSign Envelope ID: C2389E5A-3D99-4D63-A4F9-BB10BD65191F 1 Resolution No. SA 22-02 ATTEST: Julia Espinoza, City Clerk APPROVED AS TO FORM: BEST, BEST & KRIEGER LLP AA /'� "'� Michael J. Maurer, City Attorney Governing Board of Agency to the formE Redevelopment Agency the Successor r San Jacinto b��AL rw'� Chair of the Successor Agency Page 4 of 8 DocuSign Envelope ID: C2389E5A-3D99-4D63-A4F9-BB1 OBD65191 F Resolution No. SA 22-02 CERTIFICATION STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF SAN JACINTO ) I, Julia Espinoza, City Clerk of the City of San Jacinto, do hereby certify that the foregoing Resolution No. SA 22-02 was passed, approved, and adopted by the City Council of the City of San Jacinto, California, at a regular meeting of the City Council held on the 7th day of June 2022: AYES: Ruiz, Ayala, Hawkins, Heath NAYS: None ABSENT: None ABSTAIN: None WITNESS MY HAND AND OFFICIAL SEAL this 7th day of June 2022. Julia Espinoza, City Clerk Page 5 of 8 DocuSign Envelope ID: C2389E5A-3D99-4D63-A4F9-BB10BD65191F 1 Resolution No. SA 22-02 2443 8. A0000\40095969.1 EXHIBIT A LONG-RANGE PROPERTY MANAGEMENT PLAN [Attached behind this page] 0 w"quillw • SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE 0 CITY OF SAN JACINTO LONG RANGE PROPERTY MANAGEMENT PLAN 1 24438 31000\97129892 JUNE 2015 • LONG RANGE PROPERTY MANAGEMENT PLAN TRANSFER AND USE OF REAL PROPERTY ASSETS OF THE FORMER REDEVELOPMENT AGENCY The Successor Agency to the former Redevelopment Agency of the City of San Jacinto ("Successor Agency") is required by Assembly Bill Ix 26 ("AB Ix 26") and Assembly Bill 1484 ("AB 1484"), collectively "Dissolution Bills," to prepare a Long Range Property Management Plan ("Property Management Plan") that addresses the disposition and use of the properties of the former Redevelopment Agency of the City of San Jacinto (the "former Agency"). The Dissolution Bills require the establishment of a Community Redevelopment Property Trust Fund, ("Property Trust Fund") administered by the Successor Agency, to serve as the repository of the former Agency's real properties upon approval of the Property Management Fund by the DOF. Some of the properties will be transferred from the Property Trust Fund to the City of San Jacinto ("City") pursuant to this Property Management Plan, and others will be sold by the Successor Agency. The Property Management Plan addresses the disposition and use of the real properties of the former Agency and must do all of the following: Include an inventory of all properties in the Property Trust Fund. The inventory shall consist of all of the following information: • • The date of the acquisition of the property and the value of the property at that time, and an estimate of the current value of the property. • The purpose for which the property was acquired. • Parcel data, including address, lot size, and current zoning in the former agency redevelopment plan or specific, community, or general plan. • An estimate of the current value of the parcel including, if available, any appraisal information. • An estimate of any lease, rental, or any other revenues generated by the property, and a description of the contractual requirements for the disposition of those funds. • The history of environmental contamination, including designation as a brownfield site, any related environmental studies, and history of any remediation efforts. • A description of the property's potential for transit -oriented development and the advancement of the planning objectives of the successor agency. • A brief history of previous development proposals and activity, including the rental or lease of property. • Address the use or disposition of all of the properties in the Property Trust Fund. Permissible uses include the retention of the property for governmental use, the retention of the property for future development, the sale of the property, or the use of the property to fulfill an enforceable obligation. The Property Management Plan shall separately identify and list properties in the Property Trust Fund dedicated to governmental use purposes and properties retained for purposes of fulfilling an enforceable obligation. With respect to the use or disposition of all other properties, all of the following shall • apply: 2 2443 8.31000\9712989.2 • o If the plan directs the use or liquidation of the property for a project identified in an approved redevelopment plan, the property shall transfer to the City. o If the plan directs the liquidation of the property or the use of revenues generated from the property, such as lease or parking revenues, for any purpose other than to fulfill an enforceable obligation or other than that specified immediately above, the proceeds from the sale shall be distributed as property tax to the taxing entities. Following the approval of the Oversight Board and DOF, certain real property assets held by the Successor Agency will be sold; and the remainder will transfer to the City for governmental use. Sites #1, #2, #3, #4, #5 and #6 will be sold by the Successor Agency. Site #5 will be sold pursuant to an existing purchase and sale agreement that was approved by the Oversight Board on October 11, 2012 and was submitted to DOF on October 16, 2012. Sites #7, #8 and #9 will be transferred to the City for continued governmental use. Site #7 will be utilized to facilitate the expansion and relocation of the City's Public Works facilities, Site #8 will be used as a multi - modal facility for a Metrolink train station and possible bus stop by Riverside Transit Agency; and Site #9, which is adjacent to City Hall, will be used for a Civic Center. Next Steps The FOC was received by the Successor Agency on August 7, 2013. • Following approval of the Property Management Plan by the DOF, the Successor Agency will: • Market Sites #1, and #2, and sell those Sites following receipt of acceptable offers. • Negotiate and enter into escrow on Site #3 which received an offer of $10,000. • Continue the process necessary to close escrow on Site #4 pursuant to the existing purchase and sale agreement. • Transfer Site #5 as a governmental purpose property to the Housing Authority. Continue negotiations and enter into escrow with C & C Development for the ultimate development of an affordable housing project. • Request the Successor Agency transfer Sites #6, #7, #8 and #9 from the Property Trust Fund to the City and request City receive properties from the Property Trust Fund. • Continue the steps necessary to facilitate the expansion and relocation of the City's Corporation Yard at Site #7; facilitate the establishment of a train station and bus stop at Site #8; and assist the construction of a Civic Center at Site #9 which will include a library as well as the relocation of the Community Center, the latter of which is necessary to accommodate the expansion of the Police Station into the existing and adjacent Community Center. • 3 2443 8.3 1 000\9712989.2 • Site # 1: 786 N. Ramona Boulevard Owner: • Successor Agency to the Redevelopment Agency of the City of Jacinto Address / Parcel Number: • 786 N. Ramona Boulevard, San Jacinto, CA • 434-090-005-5 Current Use / Description: • Vacant parcel between two houses which front Ramona Boulevard southeast of State Street in San Jacinto Acquisition Date / Acquisition Property Value / Acquisition Purpose: • September 17, 2004 • $110,298.00 • The property had been cited for code enforcement violations. The property owner could not afford to bring the property up to code and sold the property to the Redevelopment Agency. • Thereafter, the Agency demolished the house. Parcel Size: • .24 Acres Current Zoning: • Commercial General Estimate of Current Value / Property Revenue: • $45,000.00 estimate of value • No property revenue History of Environmental Contamination: • No record of environmental studies. Potential for Transit -Oriented Development: • Potential for transit -oriented development does not exist. The subject property is not of • adequate size to accommodate TOD and is not located adjacent to major transit facilities. 4 24438.31000\9712989.2 � 0 � 0 Use or Disposition of Property: • Dispose of Site through sale by Successor Agency and either submit proceeds to the County of Riverside for distribution to taxing entities or use proceeds to pay enforceable obligations. Advancement of the Planning Objectives of the Successor Agency: • Not applicable. Previous Development Proposals and Activity: • No records of development proposals or activity. a 434-09 rCA 0= na-a,/ U 6 0 \ RAMONA O r y I\ MB 4/M0 30 ✓WM J. INWALLS SUB qn�• i/1�1I /y/Yfr Ili -I .Cr Am 5 24438.31000\9712989.2 POR RO. SAN ✓ACINTO VIE✓O (POR Sl SEC 27, T4S..R./WI MAY 2 4 2007 O . i i + dTv i 0 w/r1/d/B! CO1Mrr, CIEs Z 686ZIL6\OOOIE 8£bbZ • • • 0 Site # 2: 248 E. Main Street Owner: • Successor Agency to the Redevelopment Agency of the City of Jacinto Address / Parcel Number: • 248 E. Main Street, San Jacinto, CA 0 437-072-009-4, 437-072-010-4 Current Use / Description: • Assessor's Parcel Number 437-072-009-4 is vacant. Assessor's Parcel Number 437-072- 010-4 is the site of a portion of the former City Hall. The former City Hall structure was vacated following the floor collapse in 2007. Following the collapse it was determined that the building had no foundation and was deemed structurally unsound. When the building was vacated fencing was installed to prevent public access. Acquisition Date / Acquisition Property Value / Acquisition Purpose: • August 6, 1999 • $227,000.00 • • The Redevelopment Agency acquired the building, which was built in 1883, and adjacent parcel through judicial foreclosure. The Redevelopment Agency provided financing to a developer for purposes of rehabilitating an historic hotel for office purposes. Agency obtained property when developer defaulted on loan. Thereafter the property was utilized as a portion of City Hall. Parcel Size: • .18 Acres (437-072-009-4) • .18 Acres (437-072-010-4) Current Zoning: • Commercial Downtown Estimate of Current Value / Property Revenue: • Estimated value of Assessor's Parcel Number 437-072-009-4 is $27,000. • Estimated value of Assessor's Parcel Number 437-072-010-4 is $0 "as is" due to the cost to install a foundation and bring the building up to current standards. Costs to bring the property up to code is approximately $500,000. • • There is no property revenue on either parcel. 7 24438.31000\9712989.2 • History of Environmental Contamination: • No record of environmental studies. Potential for Transit -Oriented Development: • Potential for transit -oriented development does not exist. The subject property is not located adjacent to major transit facilities. Use or Disposition of Property: • Dispose of Site through sale by Successor Agency and either submit proceeds to the County of Riverside for distribution to taxing entities or use proceeds to pay enforceable obligations. Advancement of the Planning Objectives of the Successor Agency: • Not applicable. Previous Development Proposals and Activity: • No records of development proposals or activity. Sil. 248 E MAIN ST. SAN JACINTO. CA N112 SEW VW114 S£C35 r4S, R./W tpoRQ Na S4N ✓4ONT0 Vik/ i 0 J l , 1. .i. 1 l' I I 1 I MAR 7 4 nO d G rJ 9 Gr © v ded G O 0 0 AGO OWN I 11 - `ice te Vv? SQ 8 2 AbMlwdr A& 41M SO ,%" r MMA aid D'JM SGG No ar r~ N .Aoa b." Aut AW 8 24438.31000\9712989.2 G ` J � v rwof r rL rJ Ste, OROl1 aY ,/ 1 I CtitW ' 1 I (D `, ..+ wairvax. � 1 4SMA10 et Aw W M? PdW WWRS," cawrr, C" er Z'686Z1L6\00011 SEW 6 • r � Ad J wyj .r � f �`' • 01 • Site # 3: 181 E. Main Street Owner: • Successor Agency to the Redevelopment Agency of the City of Jacinto Address / Parcel Number: • 181 E. Main Street, San Jacinto, CA • 437-046-010-3 Current Use / Description: • Vacant parcel between two buildings which front Main Street in downtown San Jacinto Acquisition Date / Acquisition Property Value / Acquisition Purpose: • April 16, 2009 • $8,672.00 • Originally acquired by the City on July 15, 1981 from Harold and June Donnell in order to retain the property for the San Jacinto Museum, which had occupied the property since 1939. The building was constructed with unreinforced masonry, deemed as an unsafe structure by the Building Official in 2005 when the roof collapsed, and demolished in 2009. The vacant • property was transferred to the Redevelopment Agency on April 16, 2009 for development purposes. • Parcel Size: • .07 Acres Current Zoning: • Commercial Downtown Estimate of Current Value / Property Revenue: • $17,000.00 estimate of value • No property revenue History of Environmental Contamination: • No record of environmental studies 10 24438.31000\9712989.2 • Potential for Transit -Oriented Development: • Potential for transit -oriented development does not exist. The subject property is not of adequate size to accommodate TOD and is not located adjacent to major transit facilities. Use or Disposition of Property: • Dispose of Site by negotiating with the developer who made the offer on March 23, 2015 and either submit proceeds to the County of Riverside for distribution to taxing entities or use proceeds to pay enforceable obligations. Advancement of the Planning Objectives of the Successor Agency: • Not applicable Previous Development Proposals and Activity: • Offer received in March 23, 2015 for $10,000 by developer who has acquired and is rehabilitating adjacent blighted properties. � .0 � 0 0 S�YDIO ,312 i19 �1g ©�l'°S 25o W LL EMIM" 7, 11 24438.31000\9712989.2 S 1/2-NE 1/4 NW 1/4 SEC. 35 T4S R1W I (POR RO SAN JACINTO VIEJO) I SECOND ST LLI THIRD ST • Z` rc TRA � • • 1 I • I 1 • 10 ^• i044 05 ® 03 � I oz • II 11 � u If +• m MAIN �T—ST I Pom Pom Pom P-032 21-1 I 71-1 i1 1 1W Z 686ZIL6\000If*8(4tZ z I Aa 0 • • • Site # 4: San Jacinto Avenue and Commonwealth Avenue Owner: • Successor Agency to the Redevelopment Agency of the City of Jacinto Address / Parcel Number: • Not applicable • 439-112-032, 439-112-033, 439-112-004, 439-1 12-008, 439-1 12-009 Current Use / Description: • Vacant property located at the northeast corner of San Jacinto Avenue and Commonwealth Avenue • The property was transferred from the Redevelopment Agency to the City of San Jacinto on June 28, 2011. Following the State Controller's report pursuant to Health and Safety Code Section 34176.5, the property was transferred back to the Successor Agency. Thereafter a Purchase and Sale Agreement was entered into between the City of San Jacinto and Mark Development in the amount of $400,000. The Purchase and Sale is contingent upon the opening of escrow for the purchase of the intervening real property (APN 439-112-03 & 07) • (waiveable at the City's election); contingent on the Department of Finance's approval of the purchase and sale agreement; the development of the property is anticipated to include a "sit- down" type restaurant. The Oversight Board approved the Purchase and Sale Agreement (Resolution No. 12-13) on October 11, 2012, which was forwarded to the Department of Finance on October 16, 2012. The Department of Finance did not object and the sale is proceeding. is Acquisition Date / Acquisition Property Value / Acquisition Purpose: • March 2, 1994 (439-112-032) $541,080 • March 4, 1994 (439-112-008) $30,000 • April 6, 1994 (439-112-004 and 439-112-009) $36,000 • Acquired by the Redevelopment Agency to eliminate blight and stimulate commercial development. • October 6, 2004 (439-112-033) $0 — this parcel was an abandoned waterline deeded to Redevelopment Agency by Eastern Municipal Water District. 13 24438.31000\9712989.2 . Parcel Size: • 1.98 Acres (439-112-032 / formerly APN 439-110-096) • .09 Acres (439-112-033 / formerly APN 439-110-097) • 6,000 square feet (439-1 12-004 / formerly APN 439-110-025) • 2,500 square feet (439-112-009 / formerly APN 439-110-032) • 9,000 square feet (439-112-008 / formerly APN 439-110-031) Current Zoning: • Commercial General Estimate of Current Value / Property Revenue: • $400,000 History of Environmental Contamination: • No record of environmental studies. Potential for Transit -Oriented Development: • • Potential for transit -oriented development does not exist. The subject property is not located adjacent to major transit facilities. • Use or Disposition of Property: • Dispose of Site through sale by Successor Agency to Mark Development, Inc. pursuant to Purchase and Sale Agreement dated July 13, 2012, and either submit proceeds to the County of Riverside for distribution to taxing entities or use proceeds to pay enforceable obligations. Advancement of the Planning Objectives of the Successor Agency: • The sale and future development of the Site will further planning objectives by reducing sales tax leakage to other cities, and fill a void of sit-down restaurants. Previous Development Proposals and Activity: In the early -to -mid 2000s, retail developers expressed interest in the hard corner (APNs 439- 112-032 and 439-112-033). Either the project went to the neighboring City or disappeared altogether. An offer to purchase was submitted by Newton Oldacre McDonald for $960,000 in October 2009 for the same parcels. After conducting due diligence, the developer withdrew the offer. 14 2443 8.31000\9712989.2 Er ,r �� �. mw- fmw- .-- , coffArrn wwrr G� r ra r�^r NOW m NFM;:. m �D RTIMINIMWE O.LNIOYf NY8 !O AIID Mi a ssl and Z 686ZIL6\OOOI£ 8£1717Z SI ::1. immm • 0 � el I mail E4 HI1V3MNOAV too� , 41 • Site # 5: E. 7th Street Owner: • Successor Agency to the Redevelopment Agency of the City of Jacinto Address / Parcel Number: • Not applicable • 433-180-034, 433-180-032, 433-180-031, 433-180-029 Current Use / Description: • Vacant 4.92 acre property on E. Seventh Street adjacent to North Mountain Middle School Acquisition Date / Acquisition Property Value / Acquisition Purpose: • December 30, 1999 • $34,617.00 • Acquired by the Redevelopment Agency from a developer for $1 plus the payment of back taxes for the development of affordable housing • Parcel Size: • • 0.11 Acres (433-180-029) • 3.22 Acres (433-180-031) • 0.07 Acres (433-180-032) • 1.52 Acres (433-180-034) Current Zoning: • Medium Density Residential (5.1 — 10.0 DU/AC) Estimate of Current Value / Property Revenue: • $340,000 • No property revenue History of Environmental Contamination: • A Phase I Environmental Site Assessment conducted June 14, 2005. There was no evidence of recognized environmental conditions in connection with the property. The review of historical aerial photographs indicated that the property was previously used as an orchard and for low -growing crops. Environmentally persistent pesticides, if previously used on the 17 24438.3 1 000\9712989.2 • property may still be present. However, specific information regarding the previous use of such chemicals was not found. Potential for Transit -Oriented Development: • Potential for transit -oriented development does not exist. Use or Disposition of Property: Transfer the property as a governmental purpose property to the Housing Authority for future affordable housing development. The property was originally acquired with Low and Moderate Income Housing Funds for affordable housing purposes. Due to the downturn in the economy, the property was not developed for affordable housing during the 10 year statutory time frame. As a result, the Redevelopment Agency repaid the Low and Moderate Income Housing Fund with 80% funds but still anticipated the site would be developed with affordable housing when economically feasible. The property is zoned residential and is identified in the Housing Element of the General Plan as an affordable housing site. Advancement of the Planning Objectives of the Successor Agency: • The sale and future development of the Site by the Housing Authority will further planning objectives through: o The construction of 66 low/very low income housing units allows a 35% density • bonus thereby assisting the City with meeting the Regional Housing Need Assessment (RHNA) for San Jacinto of 2,433 units in the 2014-2021 planning period. • Previous Development Proposals and Activity: California Health and Safety Code Section 3334.16 required that the Redevelopment Agency initiate housing activities on property purchased with Housing Funds within five (5) years of the date of acquisition. Section 33334.16 also permitted the Agency to extend the initial five (5) year holding period for an additional five (5) years. Because no development proposals had been submitted since the time of acquisition, the Redevelopment Agency, in July 2004, extended the initial five (5) year holding period for an additional five (5) years. In July 2009, in the midst of the economic downturn, the development of an affordable housing project on the property was not economically viable. Consequently, the Redevelopment Agency authorized a budget transfer to refund the Housing Fund from the Agency's 80% general redevelopment fund. On October 13, 2010, a Letter of Intent was submitted by an affordable housing developer to the Redevelopment Agency for $50,000 per net acre. Due to uncertainties in the future of Redevelopment, the project did not move forward. On January 27, 2012, the San Jacinto City Council elected not to retain Redevelopment Agency Housing Assets and Functions and transferred them to the San Jacinto Housing Authority. 18 24438.31000\9712989.2 • On October 30, 2013, a development proposal was submitted by C&C Development outlining a 9% California Tax Credit project. The developer requested the City to carry back a residual receipts loan in the amount of $1,500,000 recorded against the property. The proposal also assumes a deferral of city impact fees for 60% of the development impact fees and waiver of Transportation Uniform Mitigation Fees. The financing plan would provide for the construction of 66 affordable family units, 100% of which would be restricted to low and very low income households. E • - %8 rrtw o o- PW, NO SAN ✓.4C/NTO V/£✓O 'K� : ' � • O If ®�IRI-- w.... .. ®t/ I, f —� _ —6YA11[i9_ _ _fIAPJr-7�Y----71• K w.. c 0� Arta! LIJW so Nrlrx,} fti of sm .acne t— i ro + M? 6 61W 19 24438.3 1 000\9712989.2 • E 20 24438.31000\9712989.2 • Site # 6: 201 E. Main Street Owner: • Successor Agency to the Redevelopment Agency of the City of Jacinto Address / Parcel Number: • 201 E. Main Street, San Jacinto, CA • 437-045-020-9 Current Use / Description: • Vacant parcel converted into pocket park Acquisition Date / Acquisition Property Value / Acquisition Purpose: • April 16, 2009 • $500.00 • Originally acquired by the City on October 1, 1977 and utilized as a portion of City Hall. The building was deemed structurally unsound by the Building Official in 2007 and demolished in 2009. Transferred to the Redevelopment Agency on April 16, 2009 for development purposes. Due to the lack of development opportunities the parcel was • converted to a park in 2010. Parcel Size: • .12 Acres Current Zoning: • Commercial Downtown Estimate of Current Value / Property Revenue: • $37,000.00 estimate of value • No property revenue History of Environmental Contamination: • No record of environmental studies Potential for Transit -Oriented Development: • Potential for transit -oriented development does not exist. The subject property is not of • adequate size to accommodate TOD and is not located adjacent to major transit facilities. 21 24438.31000\9712989.2 r� • Use or Disposition of Property: • Transfer site to City of San Jacinto as governmental purpose property and continue use as a downtown pocket park. Advancement of the Planning Objectives of the Successor Agency: • Not applicable. Previous Development Proposals and Activity: • No records of development proposals or activity. 8 e • 3�1r� ((iWj 02 �113 041 1 w�N L'wn55uft314vIIM3�-_____-_�_- a co•.n.cr n cw,.v.,i 22 2443 8.31000\9712989.2 S 112 NE 1/4 NW 1I4 SEC, 35 T4S R1W ma o0104U 11 1 loao, I 437.04 (POR RO SAN JACIhiO VIEJO) j1 7 I SECOND ST 9 4 i 4V ® 03 i tooi ,1 11 If 72 If -13 N 14 If 15 18 17 11 (18 THIRD ST • i 23 / C --�— ,� ui �' o �— 0 C�, U ® ®� b4 Cam/ Li MAIN ST n%, h• h3 _ • 0 23 24438.31000\9712989.2 IT, :7 Site # 7: Industrial Way Owner: • Successor Agency to the Redevelopment Agency of the City of San Jacinto Address / Parcel Number: • Not Applicable • 435-020-031-8 Current Use / Description: • Vacant Parcel • Located on Industrial Way, west of Grand Avenue, immediately adjacent to City -owned vacant land and well -site Acquisition Date / Acquisition Property Value / Acquisition Purpose: • August 2, 2002 • • Not applicable (transferred by City at no cost) • Transferred to the Redevelopment Agency for development purposes. C, Parcel Size: • 1.0 acre Current Zoning: • Industrial Light Estimate of Current Value / Property Revenue: • $114,000.00 estimate of value • No property revenue History of Environmental Contamination: • No record of environmental studies Potential for Transit -Oriented Development: 24 24438.3 1 000\9712989.2 • • Potential for transit -oriented development does not exist. The subject property is not located adjacent to major transit facilities. Use or Disposition of Property: • Transfer to the City for governmental use to facilitate the expansion of the Public Works Corporate Yard. The existing Corporate Yard facilities have reached capacity. Because the site is in the immediate vicinity of the Corporate Yard, as well as the City -owned well site, the location and adjacent City -owned parcels were identified for the expansion of the Corporate Yard and related uses. Advancement of the Planning Objectives of the Successor Agency: • Not applicable. Previous Development Proposals and Activity: • No records of development proposals or activity. • • •ii1 W Mf I1011m N at1EnIN N!N[5 Gl1 tl 1�411i11 519111 �[ I[all[f 4f 114 YI19�1 Pat.Bw 34 i.4S.,R.1W , a / ,,,-C„ 435-02 YI! !1 (dRl NIA 11tl1 IN-SR�I M_411W4 SITE =1 Y01 . — MY OF SM iAc IXiU 'COTTONWOOD-__—___— _--WE'NUf--..._ 6 i ... Q ,O lu r tsl V c . tar 1; Iss[1sN's ur Nw Ic.ol W IDr35? S Q WP ! IM670 M 1/7S7 50 SMPMC1AEINfOMA0 A59l. 1 linilll� Gr"If• Calil.AM 25 2443 8.31000\9712989.2 0 0 C7 26 24438.31000\9712989.2 0n. e ter , oisl city i oriati !d fT r'..; rt - 7r: .%weed Pip el rt� SAP 4P '043i F 0 Site # 8: San Jacinto Branch Line Owner: • Successor Agency to the Redevelopment Agency of the City of San Jacinto Address / Parcel Number: • Not Applicable • 435-211-001-1, 435-211-002-2, 435-211-003-3, 435-220-024-0 Current Use / Description: • Vacant property is located adjacent to the San Jacinto Branch Line (railroad) and is the original home site of the founder of San Jacinto Acquisition Date / Acquisition Property Value / Acquisition Purpose: • September 8, 2010 • $577,089.00 • To eliminate blight and stimulate commercial development. The property consisted of 15 • substandard units occupied by 10 households consisting of 26 individuals, all of whom were relocated. • Parcel Size: • 4.71 acres Current Zoning: • Industrial Light Estimate of Current Value / Property Revenue: • $577,089.00 • No property revenue History of Environmental Contamination: A Phase I and Phase II Environmental Studies were conducted in 2010. The assessment revealed data gaps in the history and site usage of the property. The property was not included on any Federal or applicable State Superfund List. However, a residence on the site was listed on the US CDL (Clandestine Drug Labs) List. The assessment also revealed several recognized and/or potential Recognized Environmental Conditions and concerns including: 27 24438.31000\9712989.2 • Petroleum stained ground surfaces; stained surface of floor area and potential downward migration of volatile organic compounds and metals as a result of painting/staining activities; a clandestine drug lab; and potential presence of an unreported underground fuel storage tank. The stained ground surfaces are not considered to be a large-scale environmental concern and appear to be limited to the upper two feet of soils, where encountered. The soils need to be removed and disposed of properly. In 2013, lead and asbestos abatement was performed on 15 substandard units with demolition taking place shortly thereafter. Potential for Transit -Oriented Development: Potential for transit -oriented development does exist. The subject property is located adjacent to the San Jacinto Branch Line which served the area from Riverside via Perris from the 1880s through the 1990s. The 24-mile stretch from Riverside to Perris is currently under construction and is expected to open by late 2015. The Riverside County Transportation Commission owns the rail right-of-way from Perris to San Jacinto; and a feasibility study will be undertaken in 2015 to evaluate the rail line extension in which San Jacinto would serve as the terminus. • The Riverside Transit Agency has a route that passes the site. Thus, said site would also serve as a bus stop and provide transportation for those boarding and disembarking from the train. • Use or Disposition of Property: C, Transfer to the City for governmental use as a train/multi-modal transportation facility. The site will be utilized for commuter rail services provided by Metrolink, as well as local and regional bus services provided by the Riverside Transit Agency. Advancement of the Planning Objectives of the Successor Agency: The City of San Jacinto was awarded a Strategic Growth Council Sustainable Communities Grant in 2014 in which to create the Downtown Specific Plan. This site will be identified in the Downtown Specific Plan as a future train/multi-modal station and facilitate future transit oriented development on adjacent parcels. Previous Development Proposals and Activity: • No records of development proposals or activity. 28 24438.31000\9712989.2 Z 686Z I L6\0001 £'8 £4bZ 6Z U sr I 3nN3AV 3aVN'rid93LUEL.L _ -• �tlu; r.R'N.n.r.u. . .ei'a.K. . .r -_ i ±. .-_.__ _• I® +R r;® M M iM M®r MHS'eo. _�1_j. �i=l It 1111 It 1i`I IttIN In It li 11 It It tlt l- � I I 13i1i19 �� H1N331Mf10� -_ _•I I 11 1 1 1 1 1 Ig I I I I I I I I r • ii � r -t -1I t111/INIitINyltt lr IN lrl Ir 161r IK Ir IMIRl4 NlitlN�tll �M[� _+ % ___ - _� - TL�T'j7J��--•_•�'-• •i I R iiTi �iiY �� r M _ I I I I r� > _ lit �tit�tltl tl�tR iNlwit iti ii •�t` slt� �t r r �t� Itl waR'(trl•jg •_� _ ___......... J • � RiitIM �N In IM Ir/ yN�R 16 �N Ir INIr IV Nl�litl A / � M - MMt YLL Mvtlltll . I t ' I R l®,i�I �i i�tl �t�N�Nl tl tl lltbil tl it t't� •-tt____ •- _______I___u____ L l0 t U%m atV10 MW • • 0 3 435-22 o &O oil POR. SE 114 SEC 34, T4S, R/W IDI f- ur a.y ♦r. - AF- h, i. - + 6F— — � .r w. D — � o .ue 19il7 am a Aftp d s.vnnw dFiwili,b 4-d B W~ Co*j Ad&'s b Se Jtr WV ... sSJ wr er .A7 PT a.M+t DNS it MKIYOF CcwlY, [/11C,l WI 0 0 is Z 686Z 1 L6\0001 £ 81"Z I -_-- '�;:' i.Y _ w j - � i � • .+i �Fi r A t ♦i'< r i C. • • • Site # 9: 501 S. San Jacinto Avenue Owner: • Successor Agency to the Redevelopment Agency of the City of San Jacinto Address / Parcel Number: • 501 S. San Jacinto Avenue 0 437-076-001, 437-076-002 Current Use / Description: • Vacant property located on corner of San Jacinto Avenue and Fifth Street, adjacent to City Hall Acquisition Date / Acquisition Property Value / Acquisition Purpose: • September 7, 2011 • $779,000.00 • Blighted property acquired by the Redevelopment Agency for the creation of a Civic Center. • The intent was to expand the Police Department into the adjacent Community Center, and relocate the Community Center next to City Hall. In addition, it was envisioned that the new property would accommodate a library and parking facilities. • Parcel Size: • .21 acres (437-076-001) • 1.02 acres (437-076-002) Current Zoning: • Commercial Downtown Estimate of Current Value / Property Revenue: • $779,000.00 • No property revenue History of Environmental Contamination: • Asbestos and lead based paint removed prior to demolition of buildings. No record of other environmental studies. 32 24438.31000\9712989.2 • Potential for Transit -Oriented Development: • C, • Potential for transit -oriented development does not exist. The subject property is not located adjacent to major transit facilities. Use or Disposition of Property: • Transfer to the City for governmental use for the creation of a Civic Center and Library, also allowing for expansion of the Police Department. Advancement of the Planning Objectives of the Successor Agency: • The retention of the property would facilitate the relocation of the Community Center which would allow the expansion of the Police Department. Coupled with the addition of a library, said public facilities would create critical mass thereby serving as a catalyst for attracting new retail and high density development in the blighted Downtown area of San Jacinto. Previous Development Proposals and Activity: • No records of development proposals or activity. Sites 501 S SAN JACINTO AVE. SAN JACINTO, CA 92583-4140 437.07 �� TA. � � � gie; .....�:m" MIN N//1 SE//4 NW!/4S£C.35, T.4S,R/W +pm+IT+*�W'Wa_V0+ IPOIR ft SAN WoNro VJEJOJ MAR 3 0 2110) ---,Main - `-----�-- ---e +.' ♦+ ® � � +r r r� it r d i 1 ` n(�r 1 1 1 1 1 I 1 1 1 I I K+✓ M (M' A! 1! t/9>' S Q d .f BMM�+ SiAI ow r ♦rn.toc ✓� i >'"� 417W SO Jam f .WwA Sy! "- Sac ilW of 74—'W-q..b..V a1x]tlatb rs• Kap rlm MKir11DE CQ'NfI, OILAM 33 2443 8.31000\9712989.2 r; n � 0+� .01 1 i Q i♦©� e O 1 • I + I q • 1 � i 1 O t 1 1I 1 © 1 1 O 1 I 1 1 I 1 I .7 y CIG J r„ � .J is 7 ♦. 1 1 ow I I nuao i I DocuSign Envelope ID: C2389E5A-3D99-4D63-A4F9-BB10BD65191F 1 Resolution No. SA 22-02 2443 8. A0000\40095 969.1 EXHIBIT B QUITCLAIM DEED [Attached behind this page] • RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: Successor Agency to the San Jacinto Redevelopment Agency 595 S. San Jacinto Ave., Building A San Jacinto, CA 92583 Attention: Executive Director DOC # 2022-0263114 06/09/2022 12:22 PM Fees: $0.00 Page 1 of 4 Recorded in Official Records County of Riverside Peter Aldana Assessor -County Clerk -Recorder "This document was electronically submitted to the County of Riverside for recording" Receipted by: JACQUELINE #2386 APN: 437-046-010-3 SPACE ABOVE THIS LINE FOR RECORDER'S USE EXEMPT FROM RECORDING FEES — GOVERNMENT CODE SECTION 27383 QUITCLAIM DEED FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, SUCCESSOR AGENCY TO THE SAN JACINTO REDEVELOPMENT AGENCY, a California public agency, 0 does hereby remise, release and forever quitclaim to CITY OF SAN JACINTO, a California municipal corporation, all right, title and interest of transferor in that certain real property in the City of San Jacinto, County of Riverside, State of California, specifically described in Exhibit "A" attached to this Quitclaim Deed ("Property") and made a part of this Quitclaim Deed by this reference. Dated:��l�.Y1f �t �LQ22 ATTEST: By: l ka Espinoza Board Secretary 24438. A0000\40122824.1 0 SUCCESSOR AGENCY TO THE SAN JACINTO REDEVELOPMENT AGENCY, a California Alic agency LIM DOC #2022-0263114 Page 2 of 4 Exhibit "A" To Successor Agency Quitclaim Deed Property Legal Description REAL PROPERTY IN THE CITY OF SAN JACINTO, RIVERSIDE COUNTY, CALIFORNIA DESCRIBED AS: [APN: 437-046-010-3] THE WEST 24 FEET OF LOT 10 AND THE EAST 6 FEET OF LOT 9 IN BLOCK I 1 OF THE TOWN OF SAN JACINTO, AS SHOWN BY MAP ON FILE BOOK 7, PAGE 329 OF MAPS, SAN DIEGO COUNTY RECORDS; EXCEPTING THEREFROM THE NORTHERLY 10 FEET RESERVED FOR PUBLIC ALLEY. 24438. A0000\40122824.1 • RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: Successor Agency to the San Jacinto Redevelopment Agency 595 S. San Jacinto Ave., Building A San Jacinto, CA 92583 Attention: Executive Director APN: 437-046-010-3 SPACE ABOVE THIS LINE FOR RECORDER'S USE EXEMPT FROM RECORDING FEES - GOVERNMENT CODE SECTION 27383 QUITCLAIM DEED FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, SUCCESSOR AGENCY TO THE SAN JACINTO REDEVELOPMENT AGENCY, a California public agency, does hereby remise, release and forever quitclaim to CITY OF SAN JACINTO, a California municipal corporation, all right, title and interest of transferor in that certain real property in the City of San Jacinto, County of Riverside, State of California, specifically described in Exhibit "A" attached to this Quitclaim Deed ("Property") and made a part of this Quitclaim Deed by this reference. Dated:�-:S�nf- 9 , 2022 ATTEST: By: Espinoza Board Secretary 2443 8. A0000\40 l 228 24. I • SUCCESSOR AGENCY TO THE SAN JACINTO REDEVELOPMENT AGEN Exhibit "A" • To Successor Agency Quitclaim Deed Property Legal Description REAL PROPERTY IN THE CITY OF SAN JACINTO, RIVERSIDE COUNTY, CALIFORNIA DESCRIBED AS: [APN: 437-046-010-31 THE WEST 24 FEET OF LOT 10 AND THE EAST 6 FEET OF LOT 9 IN BLOCK 11 OF THE TOWN OF SAN JACINTO, AS SHOWN BY MAP ON FILE BOOK 7, PAGE 329 OF MAPS, SAN DIEGO COUNTY RECORDS; EXCEPTING THEREFROM THE NORTHERLY 10 FEET RESERVED FOR PUBLIC ALLEY. • 2443 8. A 0000\40122824.1 • CERTIFICATE OF ACCEPTANCE E This is to certify that the interest in real property conveyed by the above Quitclaim Deed from the SUCCESSOR AGENCY TO THE SAN JACINTO REDEVELOPMENT AGENCY, a California public agency, to the CITY OF SAN JACINTO, a California municipal corporation, is hereby accepted by the undersigned officer on behalf of the City of San Jacinto and the City of San Jacinto consents to recordation of such Quitclaim Deed in the official records of the County of Riverside, California. Dated: City of San Jacinto, a muni&al corporation ATTEST: By: qJia Espinoza Clerk • 2443 8. A0000\40122 824.1 40 Robert J City Ma • • 0 CALIFORNIA ACKNOWLEDGMENT CIVIL CODE § 1189 A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California 1 County of On 'June d9 before me, AdrIGw1A �rU)d/0 lv d-VAr %) Iic- Date \ Here Insert Name and Title of the fficer personally appeared �01'J'J�ir� �� V%V\ so h Nome(s) of Signer(s) who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. *my ADRIANA TRUJILLO Notary Public - CaliforniaRiverside County Commission f 2345310 Comm. Expires Dec 8, 2025 Place Notary Seal and/or Stamp Above I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature VIA Signature of Notary Public Completing this information can deter alteration of the document or fraudulent reattachment of this form to an unintended document. Description of Attached Document Title or Type of Document: �'e� Document Date: -I'U V1j_ l ,�� 2 Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: ❑ Corporate Officer - Title(s): ❑ Partner - ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Other: _ Signer is Representing: ❑ Guardian or Conservator ©2019 National Notary Association Signer's Name: ❑ Corporate Officer - Title(s): ❑ Partner - ❑ Limited ❑ General ❑ Individual ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer is Representing: DocuSign Envelope ID: C2389E5A-3D99-4D63-A4F9-BB10BD65191 F 1 Resolution No. SA 22-02 2443 8. A0000\40095 969.1 EXHIBIT C APPRAISAL REPORT [Attached behind this page] • • • APPRAISAL OF REAL PROPERTY LOCATED AT: 181 E Main St San Jacinto, CA 92583 FOR: City of San Jacinto 595 S. San Jacinto Ave. San Jacinto, CA 92583 AS OF: 05/15/2022 BY: Shelli A. Holmes Tierra West Appraisal& Land Use Dynamics, Inc. 133 N Buena Vista St. #4, Hemet, CA 92543 (951) 929-2345 / (760) 322-9322 shelli@tierrawest.com / dusty@tierrawest.com tierrawest.com / tierrawest.net Serial# 76461 FES Form GA6 -'TOTAL" appraisal software by a la mode, inc. - 1.800-ALAMODE-ign.alam ode.comlverify I nan * 22-152 USPAP Compliance Addendum File# 22-152 • • • Lender Client CRY of San Jacinto Property Address 181 E Main St city San Jacinto county Riverside State CA Zip Code 92583 Appraiser Shelli A. Holmes APPRAISAL 1 REPORT IDENTIFICATION This Appraisal Report is one of the following types. Appraisal Report This report was prepared in accordance with the requirements of the Appraisal Report option of USPAP Standards Rule 2-2(a). ® Restricted Appraisal Report This report was prepared in accordance with the requirements of the Restricted Appraisal Report option of USPAP Standards Rule 2-2(b). The intended user of this report is limited to the identified client. This is a Restricted Appraisal Report and the rationale for how the appraiser arrived at the opinions and conclusions sat forth in the report may not be understood properly without the additional information in the appraiser's workfile. This is an Exterior-onlyraisal Report presented on the standard Land Form appraisal. This report is intended to comply with the reportina requirements set forth under Standards Rule 2-2(b) of the Un'fforrn Standards of Professional Appraisal Practice [USPAP). Thus it presents a very limited discussion of the data reasonina and analysis that were used in the appraisal process to develop the appraisers opinion of value and a very limited off -site inspection was made. Supporting documentation is retained in the appraiser's file. This appraisal assignment has been completed in accordance with Tige XI of FIRREA and USPAP. ADDITIONAL 1 I certify that, to the best of my knowledge and belief: • The statements of fact contained in this report are true and correct. • The report analyses, opinions, and conclusions are limited only by the reported assumptions 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 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 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 is 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. • My analyses, opinions, and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. • This appraisal report was prepared in accordance with the requirements of Title XI of FIRREA and any implementing regulations. PRIOR SERVICES ® I have NOT performed 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. I HAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. Those services are described in the comments below. PROPERTY1 _ J have NOT made a personal inspection of the property that is the subject of this report. ® I HAVE made a personal inspection of the property that lathe subject of this report. APPRAISAL ASSISTANCE Unless otherwise noted, no one provided significant real property appraisal assistance to the person signing this certification. It anyone did provide significant assistance, they are hereby identified along with a summary of the extent of the assistance provided in the report. This accompanying appraisal report is deemed to be a Restricted Use Appraisal Report and has been prepared in compliance with the Uniform Standards of Professional Appraisal Practice USPAP and reporting/disclosure criteria as set forth by the Client who is the "intended user" of this report for internal use. This appraisal is signed by use of a pa.srd protected di ital si nature. Dustin Shurriway aided in the takina of photos, the clatherina of data, and in the in of this re ort. ADDITIONAL Additional USPAP related issues requiring disclosure and/or any state mandated requirements: This IS a Restricted Use Appraisal Report as per USPAP with an estimated market exposure period of 1-3 months. Exposure Time was concluded to be equal to the Marketing Time reported on page 1 of the report. MARKETING TIME 1 EXPOSURE TIME FORPROPERTY X A reasonable marketin _ I utilizing market conditions pertinent to the appraisal assignment. X A reason...... exposur I. SUPERVISORYAPPRAISER 1 1 1 r Signature Signature Name Shelli A. Holmes Name Date of Signature 05/1912022 Date of Signature State Certification # AGO16181 State Certification # or State License # or State License # State CA State Expiration Date of Certification or License 08/04/2022 Expiration Date of Certification or License Supervisory Appraiser Inspection of Subject Property Effective Date of Appraisal 05/15/2022 ❑ Did Not ❑ Exterior -only from Street n Interior and Exterior USPAP Compliance Addendum 2014 _ Page 1 of 1 Serial# 76461 FES Form 1014EC - "TOTAL" appraisal software by a la mode, inc.-1-800-ALAMODE esign.alamode.comlwrdy TIERRA WEST Appraisal & Land Use Dynamics, Inc (951) 929-2345 LAND APPRAISAL REPORT 22-152 File No ii-tr;q E • • Borrower City of San Jacinto Census Tract 043601 Map Reference 811-B2 Property Address 181 E Main St City San Jacinto County Riverside State CA Zip Code 92583 u Legal Description POR LOTS 9 & 10 BILK 11 MB 007/329 SD MAP OF TOWN OF SAN JACINTO on Sale Price $ 0 Date of Sale 0 Loan Term NA yrs. Property Rights Appraised ® Fee ❑ Leasehold ❑ De Minimis PUD u3 Actual Real Estate Taxes $ 0 (vo Loan charges to be paid by seller $ O Other sales concessions NA LendedClient City of San Jacinto Address 595 S. San Jacinto Ave., San Jacinto CA 92583 Occupant Land Only Appraiser Shelli A. Holmes Instructions to Appraiser Land Value Only Location ❑ Urban ® Suburban ❑ Rural Good Avg. Fair Poor Built Up ❑ Over 75% ® 25%to 75% ❑ Under 25% Employment Stability 0 X 0 ❑ Growth Rate ❑ Fully Dev. ❑ Rapid ® Steady ❑ Slow Convenience to Employment Property Values ❑ Increasing ® Stable ❑ Declining Convenience to Shopping 0 9 El ❑ Convenience to Schools El X El El Demand/Supply ❑ Shortage ® In Balance ❑ Oversupply o Marketing Time ❑ Under 3 Mos. ® 4-6 Mos. ❑ Over 6 Mos. Adequacy of Public Transportation Recreational Facilities ❑ o Present 40 % One -Unit 3 % 2-4 Unit 2 % Apts. % Condo 15 % Commercial 0 Land Use 5 % Industrial 35 % Vacant % Adequacy of Utilities o Change in Present ® Not Likely ❑ Likely (`) ❑ Taking Place (') Property Compatibility El ® ❑ ❑ = Land Use (�) From To Protection from Detrimental Conditions El X El 0 tlM Predominant Occupancy ® Owner E]Tenant 15 % Vacant Police and Fire Protection El ® El El Z One -Unit Price Range $ 110 to $ 505 Predominant Value $ 355 General Appearance of Properties Appeal to Market ❑ ® ❑ ❑ One-Unt Age Range 1 yrs. to 120 yrs. Predominant Age 40 yrs. view, noise) The subject is located in an area of Comments including those factors, favorable or unfavorable, affecting marketability (e.g. public parks, schools, age size and quality. average quality commercial properties near the community center of San Jacinto CA. Homes in this area are of various Schools shopping and employment centers are located within a reasonable distance. About 35% other is vacant land and open space Per Corelo is homes in this zip code increased by 27.9% during the past year. Dimensions See Plat Map — 3,920 SF ❑ Comer Lot Zoning Classification Commercial Downtown Present Improvements ® Do ❑ Do Not Conform to Zoning Regulations Highest and Best Use ❑ Present Use ® Other (specify) Interim hold for future development Public Other (Describe) OFF SITE IMPROVEMENTS Topo Mostly Flat / Graded Elec. ® At Street Street Access ® Public ❑ Private Size Average / Typical for Area w Gas ® At Street Surface Asphalt Shape Rectangular Weer ® At Street Maintenance ®Public ❑Private Mew Adi. Properties / Mountains & Hills San. Sewer ® At Street ❑ Storm Sewer ® Curb/Gutter Drainage Assumed Adequate ❑ Underground Elect. & Tel. ® Sidewalk ® Street Lights Is the property located in a FEMA Special Flood Hazard Area? U Yes IX No Comments (favorable or unfavorable including any apparent adverse easements, encroachments, or other adverse conditions) Title reports were not provided for review and easements were not plotted. Typical easements for utilities services and roadways assumed. No apparent unfavorable easements or encroachments were noted and it is assume there are no unfavorable easements or encroachments. The subject property does not appear to be in a flood or fault zone. The subject & comps may be in the WRMSHCP fee and/or plan area and further studies may be necessary upon development of the subject Property. A full legal description is in the preliminary ti le report. The undersigned has recited the following recent sales of properties most similar and proximate to subject and has considered these in the market analysis. The description includes a dollar adjustment reflecting market reaction to those items of significant variation between the subject and comparable properties. If a significant item in the comparable property is superior to or more favorable than the subject property, a minus (—) adjustment is made, thus reducing the indicated value of subject; it a significant item in the comparable is inferior to or less favorable than the subject property, a plus (+) adjustment is made thus increasing the indicated value of the subject. ITEM I SUBJECT PROPERTY COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO. 3 Address 181 E Main St 650 N Alessandro St 43000 Florida Ave 284 E 5th St San Jacinto CA 92583 Hemet CA 92543 Hemet CA 92544 San Jacinto CA 92583 Proximity to Subject 2.05 miles SW 3.79 miles SE 0.11 miles SE Sales Price $ 0 Is 45,000 $ 54,500 $ 77,000 rn Price $/SF $ 0 $ 2.51 $ 2.16 $ 6.31 j Data Sources Inspection CRMLS #SW21099603 DOM 4 CRMLS #SW21232039 DOM 9 CRMLS #IG20096964 DOM 143 ITEM DESCRIPTION DESCRIPTION + — $ Adjust. DESCRIPTION + $ Adjust. DESCRIPTION + — $ Adjust. Date of Sale/Time Adj. 0 06/01/2021 0 01/20/2022 012/14/2020 0 Location RureUAv RuraVAvg RuraVAv Comer -7 700 p Site/View 3,920 SF 17,860 SF -13 940 25,265 SF -21 345 12,197 SF -8 277 Flood/Fauit/Sha a None/None/Narrow None/None/Narrow None/None/sup/Cell 0 None/None/Su -7 700 o� Site Improvements Curb/Side None +2 250 None 0 Curb/Side 4g Additions Amenities Water/Sewer/Elec Water/Sewer/Elec Water/Sewer/Elec Water/Sewer/Elec Zonin APN CD/437-046-010 C2/443-050-026 0 CPS/551-240-023 0 RMH/437-075-001 20 000 Sales or Financing Assumed ArmLth Assumed ArmLth Assumed ArmLth Assumed Arml-th Concessions N/A Doc. #333772 Doc. #34765 Doc. #634545 Net Adj. Total + — $ -11 690 + — $ -21 345 + — $ -43 677 Indicated Value of Subject K "' $ 33.310..$ 33,155 $ 33.32 Comments on Market Data The subject has not transferred within the past 3 years. #s 1, 2, and 3 have not transferred within the past 36 months. Comments and Conditions of Appraisal This is an appraisal report as per USPAP with an estimated market exposure period of 1-3 months. Adjustments for parcel size are at $1.00/SF based upon useable land. Other adjustments are based on paired sales. Comp #1 has an 82.5-ft width but need 'and is similar to the subject width. Comp #2 is in a cell, which is typically 7-10% inferior. Comp #2 is superior in shape which cancels the Cell adjustment. Z Final Reconciliation Analysis of Market Data Approach provides the best indication of recent buyer/seller activity & is emphasized.The Income and Cost Approaches O are not explored because the a raisal is for vacant underlying land only. Subject is appraised on an As -is Basis. Current improvements, if an are not valuated. F Q Subject "as -is" value 1 Oased oA t te'assllbt ftlip Miect is vacant. v I(WE) ESTIMATE TH OBJECT PROPERTY AS OF 05/15/2022 TO BE$ 30,000 o Appraiser Shelli A. Holmes Supervisory Appraiser (it applicable) w Date of Signature and Report 05/19/2022 Date of Signature ¢ Title CGREA Title State Certification # AGO16181 ST CA State Certification # ST Or State License # ST Or State License # ST Expiration Date of State Certification or License 08/04/2022 Expiration Date of State Certification or License Date of Inspection (t applicable) 05/15/2022 ❑ Did ❑ Did Not Inspect Property Date Form LAND -'TOTAL" appraisal software by a la mode, inc.-1-800-ALAMODE e.ign.alamoae.com/verify U6/11 Subiect Photo Page • is • Lender/Client City of San Jacinto Property Address 181 E Main St City San Jacinto County Riverside State CA Zip Code 92583 Appraiser Shelli A. Holmes Subject From Main St. 181 E Main St Subject Street Subject to the left. Subject Street Subject to the right Serial# 76461 FES Form PICPIX.TR -"TOTAL" appraisal software by a la mode, inc.-1-800-ALAMODE-ign.alamode.—(verify Subject Photo Page Lender Client City of San Jacinto _ Property Address 181 E Main St City San Jacinto County Riverside State CA Zip Code 92583 Appraiser Shelli A. Holmes Subject Street/Alley Access 181 E Main St Subject Street/Alley Access Subject Rear Serial# 76461FE5 Form PICPIX.TR -'TOTAL" appraisal software by a la mode, inc.-1-800-ALAMODE esign.alamode.com/verify Comparable Photo Page � 0 Lender Client City of San Jacinto Property Address 181 E Main St city San Jacinto County Riverside State CA Zip Cade 92583 Appraiser Shell! A. Holmes W , Mtrr� • M4� M -� •,rrIZS - "t, „R ` Comparable 1 650 N Alessandro St Prox. to Subject 2.05 miles SW Sales Price 45,000 Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location Rural/Avg View 17,860 SF Site Quality Age Comparable 2 43000 Florida Ave Prox. to Subject 3.79 miles SE Sales Price 54,500 Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location Rural/Avg View 25,265 SF Site Quality Age Comparable 3 284 E 5th St Prox. to Subject 0.11 miles SE Sales Price 77,000 Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location Comer View 12,197 SF Site Quality Age Seriaig 76461FE5 Form PICPIX.CR •'TOTAL" appraisal software by a la mode, inc.-1.800-ALAMODE esign.alamode.—(verify Supplemental Addendum File No 22-152 • Lender/Client . City of San Jacinto Property Address 181 E Main St City San Jacinto County Riverside State CA Zip Code 92583 Appraiser Shelli A. Holmes Addendum CORPORATE OFFICE: 133 N. Buena Vista Street #4, Hemet, CA 92543 HEMET: (951) 929-2345 • FAX: (951) 658-9593 • PALM SPRINGS: (760) 322-9322 E-MAIL: shelli@tierrawest.com • WEB PAGE: www.Tierrawest.com Dear Client: Pursuant to your request and authorization, an off -site observation of the subject property as referenced in this appraisal report has been performed. I have also researched and evaluated recent comparable sales data within the primary and competitive market area that have led me to form an opinion of market value for the subject property under fee simple ownership. In preparing this report, I have evaluated the subject's most physically possible, legally permissible, financially feasible and maximally productive land uses which have led me to form an opinion of highest and best use. I have also evaluated and analyzed local and regional market/value trends. APPRAISAL ASSIGNMENT & REPORT FORMAT This is a Restricted Use Appraisal Report presented on the standard Land Appraisal Report form and has been prepared with the intent to comply with the reporting requirements set forth under Standards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice (USPAP). As such, it presents a very limited discussion of the data, reasoning and analyses used in the appraisal process to develop the appraiser's opinion of market value. Supporting documentation is also retained within the appraiser's file. Furthermore, this appraisal assignment has been completed in accordance with Title XI of FIRREA and the Uniform Standards of Professional Appraisal Practice of the Appraisal Institute. INTENDED USER(S) OF REPORT The intended user(s) of this appraisal report is limited to the Client as identified herein along with duly authorized legal counsel and client affiliates. Any other use of this appraisal report is unauthorized and expressly prohibited without the prior express written consent of the Author. INTENDED USE OF REPORT The intended use of this report is for personal purposes by the Client as identified herein as: • City of San Jacinto HYPOTHETICAL OR FUTURE CONDITIONS There are no hypothetical or future conditions associated with the findings and conclusions as expressed by the appraiser unless state otherwise. The subject property is appraised on an As -is Basis under fee simple ownership as of the effective date of value. There may be improvements, which are of no value and are not to be considered a part of this appraisal. The "As -is" value estimate is based on underlying land value only. Please refer to the Standard Assumptions and Limiting Conditions attached herewith. EXTRAORDINARY ASSUMPTIONS There are no extraordinary assumptions associated with the findings and conclusions as expressed by the appraiser. The subject property is appraised as: one vacant land parcel on an As -is Basis (underlying land value only - improvements, if any, are considered to have no value) under fee simple ownership as of the effective date of value. Please refer to the Standard Assumptions and Limiting Conditions attached herewith. The appraiser did not walk onto the subject property, which is assumed to be as aerial and photos depict. COMPETENCY PROVISION The undersigned appraiser is the sole author of this appraisal report and does hereby certify that she possesses the necessary experience and knowledge to competently perform the appraisal report. The appraiser is also currently licensed as a California State "Certified General" Real Estate Appraiser. INSPECTION, DESCRIPTION & ANALYSIS The appraisal process requires a series of investigative analyses which rely upon information obtained from various secondary sources. The data used in this report have been obtained from sources deemed to be both reliable and competent but can in no way be guaranteed. An off -site inspection of the subject property was performed in a professional manner consistent with real estate appraisal industry standards. DEED & LEGAL DESCRIPTION The subject property is identified as address 181 E. Main St. or by Assessor Parcel Number 437-046-010. The subject is located along the north side of Main Street and just west of Sheriff Avenue. The subject's full legal description may be found on the Deed (not provided for review). Adverse easements or encroachments, if any, could • not be determined. For purposes of this appraisal report, the subject property is assumed to be void of adverse deed restrictions. The subject is appraised assuming it to be free and clear of clouds or encumbrances or adverse deed restrictions. Serial# 76461FE5 Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE esign.alamode.comlverify Supplemental Addendum File No 22-152 • • Lender/Client_ City of San Jacinto Property Address 181 E Main St CRY San Jacinto County Riverside State CA Zip Code 92583 Appraiser Shelli A. Holmes MARKET INFORMATION (RESEARCH & SOURCES) Every reasonable effort has been made to verify each transaction. The market data search process was restricted to properties within the subject's sphere of influence (as dictated by the availability of applicable market data) with the most similar physical and legal characteristics. In addition to personal verification of the comparable property used in this report, I/we have utilized supplemental information sources including, but not limited to: RealQuest (First American Core Logic, Inc.), public record data; The area's Multiple Listing Service (CRMLS), Local real estate brokers active within the subject's market area; and Copies of various "recorded" instruments of conveyance secured from title companies. My/our investigation and field analysis of area and neighborhood trends indicated that a sufficient number of pertinent comparable sales data in terms of closed sales were available to support and conclude a reasonable estimate of market value for the subject property. Dustin C. Shumway assisted in the gathering and analysis of data contained in this report and in the typing of this report. SUBJECT NEIGHBORHOOD The subject property is located within an area of mixed land uses, with a preponderance of commercial properties. Other land uses consist of site -built conventional homes of various ages, sizes and price along with multi -family residential and vacant lots. The subject's immediate/competitive market area is best described as the community San Jacinto, CA. Convenience to local shopping, community services and public schools is deemed typical for the area. PUBLIC UTILITIES & MUNICIPAL SERVICES All public utilities are available to the site as per off -site observation/owner/aerials. SUBJECT SITE & VIEW AMENITIES The subject site consists of one parcel 0.09+- AC (3,920 SF) located in the city center of San Jacinto, CA. Overall, there are no subject improvements with the exception of a partial fence, which is deemed to have no value. On- and off -site drainage appears adequate. The subject site is not wide enough to accommodate typical conforming con struction.Adjustments are made accordingly to to comparables. SUBJECT IMPROVEMENTS The subject improvements, if any, are considered to have no value. The subject value estimate is based on underlying land value only. LAND OR SITE VALUATION Typically, there are three commonly employed valuation approaches to developing an estimate of market value for real property including: 1) the Cost Approach; 2) the Direct Sales Comparison Approach; and 3) the Income Capitalization Approach. In the valuation of vacant land parcels such as the subject property, the Direct Sales Comparison Approach is considered to be the most supportable and commonly employed valuation methodology when sufficient/recent market transaction activity can be found. Other secondary or supporting valuation techniques may include allocation or use of the extraction method. Based upon The Appraisal of Real Estate, as published by the American Institute of Real Estate Appraisers, 12th Edition, 2001: "Extraction is a variant of the allocation method in which land value is extracted from the sales price of an improved property by deducting the contribution of the improvements, which is estimated from the depreciated costs. The remaining value represents the value of the land". THE COST APPROACH The Cost Approach will not be explored in this particular instance since the subject property value estimate is based only underlying land value only. Economic Obsolescence: This form of depreciation, which is also commonly referred to as "external obsolescence" is caused by negative influences outside the property and generally is incurable on the part of the owner, landlord or tenant. A common form of external obsolescence would be the siding of a single-family residence adjacent to a freeway, railroad track or airport where elevated levels of noise and other adverse factors relative to residential occupancy are found. Due to recent studies associated with electromagnetic radiation, proximity to high voltage power lines can also result in reduced marketability/appeal and result in external obsolescence; the measurement of which is based upon market perceptions. Overall the subject does not appear to suffer from economic and/or external obsolescence. THE DIRECT SALES COMPARISON APPROACH This valuation approach, which is also commonly referred to as the Market Approach, is a process of correlation and analysis utilizing recent market sales and/or current listings of properties similar to the subject in terms of location, highest and best use, utility etc. Properties subjected to the comparison process, must have at least the potential of similar, if not identical, highest and best use to that of the subject property if a valid estimate of value is to result. The basis for the Direct Sales Comparison Approach to value rests on the principle of substitution or the exchange concept of value and price. Such a concept assumes that value is established in the market place. Market Data Sources & Research: Every reasonable effort has been made to verify each transaction. The market data search process was restricted to properties within the subject's primary market area or sphere of influence (as dictated by the availability of applicable market data) and limited to those properties with the ohysical Serial# 76461FES Form TADD - "TOTAL" appraisal software by a la mode, inc.-1-800-ALAMODE esign.alamode.com/verity • zouppiementai Aaaenaum File No 22-152 Lender/Client City of San Jacinto Property Address 181 E Main St City San Jacinto County Riverside State CA Zip Code 92583 Appraiser Shelli A. Holmes and legal characteristics to those of the subject property. All of the data have been cross-referenced with information sources deemed to be reliable but can in no way be guaranteed. A summary of the market information sources used within this report include, but are not limited to: The local area's Multiple Listing Service (CRMLS) and applicable listing/selling brokers; DataQuick; CoStar Comps; First American Title Insurance (RealQuest); and Copies of various "recorded" instruments of conveyance secured from title companies. Based on our investigation of local and regional market tends, very limited recent transaction data with similar lot sizes were found within the local market area. However, these comparables are relatively recent sales and are within the subject competitive market area. The three (3) closed sale comps are located in the subject's competitive market area and are deemed to be the most applicable and appropriate data available as of the date of value. THE INCOME CAPITALIZATION APPROACH The subject property is comprised of one vacant land parcel located within a rural area. Improvements, if any, are considered to be of no value. Therefore, based upon the nature of the subject property, the Income Capitalization Approach was not found to be a viable valuation methodology in developing a supportable indication of market value for the subject property on an As -is Basis. Typically, land in this area is not leased. As such, this approach was considered but obviously not explored. RECONCILIATION & FINAL VALUE ESTIMATE The correlation and reconciliation of data is the key process in the derivation of a final value estimate for the subject property. The purpose of this section is to review that data and to determine those factors that lend the greatest support to a given value conclusion and determine the most applicable method of analysis. Correlation is not averaging, but rather a process of selection wherein the most applicable method is utilized based upon the nature of the subject property being appraised and available data. The Cost Approach. As previously noted, the Cost Approach is not explored for underlying land value estimates. The Direct Sales Comparison Approach to value is considered to be instrumental in the derivation of a market value • estimate when units of comparison are analyzed. Typically, for vacant land such as the subject property (improvements, if any are considered to be of no value), the most relevant and reliable method is the Direct Sales Comparison Approach. Market participants generally evaluate and make their purchases and sales decisions based upon the economic principle of substitution which in essence, states that a buyer will typically pay no more for a property than the cost of acquiring a like property with similar utility. The approach is also most commonly considered the best indication of the current market and area trends. The Income Approach to value can be useful in establishing an indication of market value based upon either the subject's actual or projected net income stream. Vacant land (or vacant land with improvements of little or no value) is typically not used as rental property in this area. Therefore, the Income Approach is not explored. SUMMARY & CONCLUSION (AS IS) In summary, the Direct Sales Comparison Approach is the only approach that is deemed reasonable for vacant land in this area. Due to the nature of the subject property, the Cost Approach and Income approaches are not utilized in the developing of an estimate of market value for the subject parcel. Serial# 76461FE5 Form TADD - "TOTAL" appraisal software by a la mode, inc.-1-800-ALAMODE esign.alamode.com/verify • • Supplemental Addendum File No.22-152 Lender Client City of San Jacinto Property Address 181 E Main St City San Jacinto County Riverside State CA Zip Code 92583 Appraiser Shelli A. Holmes Comments The intended use of this report is to evaluate the subject's real property fee simple interest subject to the stated scope of work, purpose of the appraisal, reporting requirements of this report form, and definition of market value. The intended user of this appraisal report is the Lender/Client as stated in the body of the report. No additional intended users are identified by the appraiser. The scope of the appraisal includes analysis of local and regional market trends along with research and verification of market transaction activity. In developing the appraiser's final opinion of market value, all relevant valuation approaches have been considered and appropriately explored predicated upon the nature of the subject property and the intended use of the appraisal report. The appraiser's final findings and conclusions are predicated upon the Assumptions and Limiting Conditions attached herewith. There no other hypothetical assumptions or special conditions applicable unless specifically stated. The subject is appraised on an "As -is" basis (as vacant land). I have performed no services nor appraisals on this property in the last 3 years prior to acceptance of this assignment. A limited off -site inspection of the subject property was performed from the adjacent public right-of-way. As may or may not be applicable, physical deficiencies associated with the subject property that were readily apparent are noted in the appropriate sections of the appraisal report. Note that the appraiser did not inspect the comparables Physical data regarding the subject property, site area/shape or legal description were obtained from County Assessor records which are believed to be true and correct unless otherwise stated. Data concerning market conditions and comparable sales were obtained from sources generally considered to be reliable for valuation analytics and appraisal compliance and include such sources as County Assessor records, the local area Multiple Listing Service (MLS), First American Title Insurance Co. (RealQuest), FEMA, local area Realtors and research data on file with the appraiser. The appraiser's opinion of market value does not infer or guarantee any "Insurable Value" or that the subject property will be fully insurable against monetary loss in the event of fire, earthquake, flood or other disaster. The appraiser assumes no liability for any losses that may be sustained as a result of any unintended use of this appraisal report or its content. Exposure Time was concluded to be equal to the Marketing Time of 1+_ to 3+- months. This appraisal is signed by use of a password protected digital signature. Dustin Shumway assisted with the gathering and typing of data. Serial# 76461 FES Form TADD - "TOTAL" appraisal software by a la mode, inc.- 1 -800-ALAMODE esign.alamode.com/verify • • • Supplemental Addendum File No.22-152 Lender/Client City of San Jacinto Property Address 181 E Main St City San Jacinto County Riverside State CA Zip Code 92583 Appraiser Shelli A. Holmes HIGHEST AND BEST USE According to terminology of the Appraisal Institute, as defined in The Appraisal of Real Estate, 15th Edition, Copyright 2020, Highest and Best Use is defined as: "The reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible, and that results in the highest value. The four criteria the highest and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum productivity. Alternatively, the probable use of land or improved property -specific with respect to the user and timing of the use -that is adequately supported and results in the highest present value." The highest and best use of both land as though vacant and property that is improved must meet four basis criteria, namely: • Physically Possible: What uses are possible given the physical characteristics of the parcel including overall size, shape, dimensions, topography, soils, flood hazards, and other characteristics revealed by analysis. • Legally Permissible: What uses are permitted under existing zoning and other land use restrictions, regulations, and controls, and under existing or proposed deed restrictions, for the subject property. • Financially Feasible: Those uses that are found to be both physically possible and legally permissible, are evaluated further to determine which are likely to produce an income, or return, equal to or greater than the amount needed to satisfy operating expenses, financial obligations, and capital amortization. All uses that are expected to produce a positive return are regarded as financially feasible. • Maximally Productive: Of the financially feasible uses, the use that produces the highest price, or value, consistent with the rate of return warranted by the market for that specific use is considered to be the highest and best use of the property. Summary and Conclusion Real property may have multiple highest and best uses at any given time. Like value, highest and best use is a market -driven concept and is therefore subject to change over time. The conclusion of highest and best use results from the appraiser's experience, judgment and analytical skill. In other words, the conclusion of highest and best use represents an opinion and not a fact to be found. As -if Developed Basis PHYSICALLY POSSIBLE: LEGALLY PERMISSIBLE: FINANCIALLY FEASIBLE: MAXIMALLY PRODUCTIVE As -is Basis PHYSICALLY POSSIBLE: LEGALLY PERMISSIBLE: FINANCIALLY FEASIBLE: MAXIMALLY PRODUCTIVE Commercial (Depending on Further Studies) Commercial (Depending on Further Studies) Commercial (Depending on Further Studies) Commercial (Depending on Further Studies) Interim hold due to increasing construction costs. Interim hold due to increasing construction costs. Interim hold due to increasing construction costs. Interim hold due to increasing construction costs. Serial# 76461 FES Form TADD - "TOTAL" appraisal software by a la mode, inc.-1-800-ALAMODE esign.alamode.com/verify • Supplemental Addendum File NO 22-152 Lender Client City of San Jacinto _ Property Address 181 E Main St city San Jacinto County Riverside State CA Zip Code 92583 Appraiser Shelli A. Holmes CERTIFICATION I, the undersigned Appraiser(s), do hereby 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 present or prospective interest in the property that is the subject of this report, and no 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; • I have performed no appraisal or any other services on the subject property within the past 3 years prior to accepting this assignment; • My engagement in this assignment was not contingent upon developing or reporting predetermined results; • My compensation for completing this assignment is 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; • My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal as set forth by the Appraisal Standards Board of the Appraisal Foundation (authorized by Congress as the source of appraisal standards and appraiser qualifications) along with the Code of Professional Ethics and Standards of Professional Practice of the Appraisal Institute and other professional appraisal organization(s) with which I am and/or may be affiliated; • I have made a personal observation of the property that is the subject of this appraisal report but the comps were not inspected and are assumed to be as pictures/aerials depict; • Dustin Shumway has assisted in the gathering of data and typing of this report; • I have not knowingly withheld any significant information that would potentially have a material effect upon the evaluation and/or concluded value estimate(s) of the subject property as set forth herein; • Information and data obtained from public records, commercial real property information sources, property owners and • tenants, grantees and grantors, real estate professionals including agents, brokers, appraisers and other secondary parties have been secured from sources deemed to be both accurate and reliable. Every reasonable effort has been made to confirm the accuracy of any and all such data that have been utilized within this report but can in no way be guaranteed; • • The use of this report is subject to the requirements of the California Bureau of Real Estate Appraisers relating to review by its duly authorized representatives. However, use of this report by unauthorized parties, or for purposes beyond the "Scope" and "Intent" of this report as outlined herein is prohibited; • Unless performed explicitly by the author(s), any alteration or amendment whatsoever to this report is unauthorized and may void this Certification. The author bears no responsibility for any occurrence, event or outcome that may be the direct/indirect result of using an altered and "unauthorized" version of this report; and • I possess adequate knowledge and experience to competently prepare this appraisal report, have adequate familiarity with the market area in which the subject property is located and have prepared appraisal reports of similar property type, general use and overall complexity. Respectfully submitted, Respectfully submitted, TIERRA WEST Appraisal & Land Use Dynamics, Inc. r 6�� � iV� Shelli Hohnes CA Certificate No. AGO16181 Expiration: 08/04/2020 Serial# 76461FES Form TADD -"TOTAL" appraisal software by a la mode, inc.-1-800-ALAMODE esign.alamode.com/verify Subject Public Record and Flood Map - Page 1 • • Property Detail Report For Property Located At : 181 E MAIN ST, SAN JACINTO, CA 92583-4227 Owner Information Owner Name REDEVELOPMENT AGENCY CITY OF SAN JACINTO Manng Address 595 S SAN JACINTO AVE, SAN JACINTO CA 925834134 C001 C/O EXECUTIVE DIR Vesting Codes: location Information Legal Description POR LOTS 9 & 10 BLK 11 MR 0071329 30 MAP OF TOWN OF SAN JACINTO County: RIVERSIDE, CA APN 437-04"10 Census Tract / Block'. 438.01/1 Alternate APN 437-046-010 Townsnlp-Rangs-Sect Subdivision TOWN SAN JACINTO Legal Bcok/Page: 7-329 Map Reference I Legal Lot. 9 Tract #: Legal Block 11 School District: SAN JACINTO Market Area. 223 School District Name SAN JACINTO Neighbor Code: Munio/Towaship. CITY OF SAN JACINTO Owns Transfer Inforrastlon Recordktg/Salo Data: 12/2312014 / 12/22=14 Deed Type: QUITCLAIM DEED Sale Price: tat Mtg Document 9. Document It 489506 Last Market Sole Information Recording/Smile Deb: 11/1981 / tat Mfg Amount/Type: I Sale Price: $80.000 tat Mig W. Rate/Type- / Sale Type. FULL tat Mfg Document 9. Document M 2209M 2nd Mfg AmourNTypia I Deed Type: DEED (REG) 2nd Mfg Int. RaWType: I am Transfer Doent N Pdos Per S4FL New Construction Multusplil Sale: Tile Company: Lender Sale, Name Prlor Sale Information Prior ReUSale Dab. I Prior Lender'. Prior Sob Price. Prior let Mtg AmVType. Pnor Doc Number Pnor tat Mtg Rats7Type I Prior Deed Type: Property Charecterlatics Year Bull I EII: / Total Roorns/Offcea Garage Area. Grose Area: Total ResVoorns. Garage Capacity Buldkyt Area. Roof Type. Parting Spaces Tat Ad) Area: Roof MeterlaL GRAVEL 3 ROCK Heat Type Above Grade. Construction: Air Cond e of Stories: Foundation Pad: Olney Inqo�ements: Building Permit Exterior wait: Quality. Basement Area: Co dMron. Site Information Zoning. C2 Aces'. 009 County Use GOVERNMENT PROPERTY(AON) Lot Ares : 3,920 Lot WdtNDepth- x State Use C26 Land Use: COMMERCIAL (NEC)Res/Cornm Units. / Water Type. Sao Influence Sewer Type Tm Information Total Value'. Assessed Year: 2021 Property Tex two Value: Improved %. Tax Arse. 010032 Improvement Value. Tax Year. Tax Exemption Total Taxable Value Serial# 76461 FE5 Form SCNLGL - "TOTAL' appraisal software by a la mode, Inc. - 1-800-ALAMODE esign.alamode.comlverify Subject Public Record and Flood Map - Page 2 • Transaction History Report For PI.F-1'l L—W At C RealQuest 181 E MAIN ST, SAN JACINTO, CA 92583.4227 TRANSACTION HISTORY History Record #: t Sal.: Sale Recording 12/212014 Sale Price: Date: Sale Date: 12f22J2914 Sal. Price Type: Roc. Document #: 489506 MuINSpIN Sale: Document Type: G1JITCLAIM DEED Other Document #: Tnle Company: Buyer: C" OF SAN JACINTO Seller: CIrY OF SAN JACINTO History Record #: 2 9d.' Sale Recording OIW3012011 Sale Price: Date: Sale Date, 06121902011 Sale Price Type: Riac. Document #: 289045 MuIHJSpIN Sale: Document Type: (7.JIT CLAIM DEED Other Document #: Title Company: Buyer: Cm OF SAN JACINTO Seiler: REDEVELOPMENT AGENCY OF CITYISAN History Record #: 3 SA. Sale Recording 0&0312009 Sale Price: Date: Sale Date: 0112J2009 Sale Price Type: Roc. Document: MultwOther pIlloc Sale: MULTIPLE Document Hype: GRANT DEED GRANT IXMr Document #: • Title Company. Buyer: REDEVELOPMENT AGCY OF CTY,'SAN JAC Sailer: CrrY OF SAN JACINTO HistoryRecord #: 4 sSaleM. Recording 91212009 Sale Price: Data: Sale Date: 0112J2009 Sal. Price Type: R.c. Document #: 267598 Multilsplit Sale: MULTIPLE Document Type: GRANT DEED Other Document # Title Company: Buyer. REDEVELOPMENT AGCY OF CTY.SAN JAC Seller: CITY OF SAN JACINTO HistoryRecord #: 5 sm. Sale Recording 1111981 Sale Price: $60,000 Date: Sale Date: Sale Price Type: FULL Rec. Document #: 220968 Multi/Split Sale: Document Type: DEED (REG) Other Document #: Title Company: Buyer: CrrY OF SAN JACINTO Seller: • S-1 i1 Serial# 76461FES Form SCNLGL - "TOTAL" appraisal software by a la mode, inc.-1-800-ALAMODE esign.alamode.com/verify Subject Public Record and Flood Map - Page 3 0 Flood Map Report For PI.-,ty LM'1W At 181 E MAIN ST, SAN JACINTO, CA 92583-4227 Report Date: OS1182022 County: RIVERSIDE CA Flood Zorr Cod. Flood Zone P.n Pr wl D.. X500L 065056-0606SC1490H 04/1912017 Sp —A Flood Hurd Arw (SFHA) WIMIn 250 nor muldple need —7 Cemmurdty N— Out No SAN JACINTO Fbvd Zone D—u ptlon ■ r imw. rroru. rrc w. r"w iw.... s r.. is I+e. . os w p.ee rr ruwre w declalow of Uw This nup/report was produced uslrlg multiple sourou. It Is pro,,WW for Inforinational purposes only This map/report should not be rated upon by any ddrd partlss N Is not Intended to satisfy any regulalory guidelines and should not be used for Dse or any ottw purpose. Serials 76461FE5 Form SCNLGL - "TOTAL" appraisal software by a la mode, inc.- 1 -800-ALAMODE es ign.alamode.comlverify Single-family Closed Sales 1004MC within 1 Mile - Page 1 Shelli Holmes Office Slate Lac AG0181E' ' .................. ^ Ij a'� Fannie Mae 1004MC Statistics Detail. Prepared By, Shelli Holmes Listings as of 05/18/22 at 12:58 prn Property Type d'Residenliar Standard Status is'Closed Contract Statue change Date Is 0511Sr2022 to 11/19/2021 latitude, Longitude is within 1 On m or 181 E Main St. San Jeceno. CA92583. USA Residential Closed MLS a Address BD BA SgFt $/SgFI List Date Sold Date DOM Ust Price Sold Price SP%LP SW21208780 306 E 7th Street 2 1 988 $111.34 09/20/2021 01/18/2022 86 $110,000 $110,000 100.00 SW22021951 314 E 7th Street 2 1 988 $174.09 02/04J2022 04/25/2022 61 $180,000 $172,000 95.56 SW22059860 1438 Senator Way 2 2 1,030 $174.76 03I25J2022 04/07/2022 0 $180,000 $180,000 100.00 OW21204154 159 Tiger Lane 3 2 1,339 $141.90 09113/2021 12/21/2021 39 $195,000 $190,000 97.44 IV21264075 437 W 5th Street 2 1 840 $228.10 12/13/2021 02/18/2022 36 $212,800 $191,600 90.04 N21236039 397 E 6th Street 1 1 745 $303.36 12/1B/2021 02/0212022 11 $219,000 $226,000 103.20 OC21236697 213 Tiger Lane 3 2 1,378 $168.36 10/29/2021 12/2312021 10 $235,000 $232,000 98.72 SW21237120 382 Crystal Drive 2 1 864 $277.78 10/26/2021 12/01/2021 4 $220,000 $240.000 109.09 CV21262638 1457 Potomac Circle 2 2 1,030 $234.95 12/1012021 12/22/2021 7 $239,900 $242,000 100.88 IG22033653 1456 Concord Cirde 2 2 1,065 $227.23 02M2022 04/0812022 16 $240,900 $242.000 100.46 219070023DA 115 S Ramona Boulevard 2 1 672 $364.58 11/06/2021 12/29/2021 37 $239,900 $245,000 102.13 CV22019745 1354 Colonial Way 2 2 1,065 $23C74 02/01/2022 03/11/2022 10 $239,900 $250,000 104.21 SW21260172 1331 Freedom Way 2 2 1.015 $246.31 12IM2021 01/12/2022 5 $249.900 $250,000 100.04 SW21255650 141 Tiger Lane 3 2 1,365 $183.88 11/28/2021 04/20J2022 22 $239,900 $251.000 104.63 219072859DA 153 S EstudilbAvenue 2 1 757 $343.46 01/23/2022 03/11/2022 43 $279,000 $260,000 93.19 SW21236830 22558 San Jacinto Avenue • 1 1 1,080 $240.74 10/27/2021 11/2412021 4 $250,000 $260,000 104.00 SW21164778 665 S Mistletoe Avenue 2 1 980 $269.39 07/27/2021 12/17/2021 97 $259.000 $264,000 101.93 OW21218173 401 N Brinton Street 2 1 976 $271.52 09/29/2021 12/3112021 6 $249,900 $265.000 106.04 DW22037973 1333 Randolph Circle 2 2 1,065 $253.52 0212&2022 04/26/2022 21 $260.000 $270,000 103.85 SW21242263 512 S Camino Los Banos 2 1 966 $283.70 11/0312021 01/03/2022 5 $270,000 $274,050 101.50 SW21262492 318 Oakhurst Drive 2 1 864 $318.29 12/06/2021 01/18/2022 2 $260,000 $275,000 105.77 SR22055362 1384 Colonial Way 2 2 1.065 $258.22 0311912022 05/10/2022 5 $269,000 $275,000 102.23 PW21224832 252 E 2nd Street 2 1 830 $334.34 10109/2021 02/2412022 79 $269,900 $277,500 102.82 SW21228312 191 N Brinton Street 2 1 900 $322.22 10/15/2021 01/11/2022 12 $265,900 $290,000 109.06 SW22023635 391 E Shaver Street 2 1 864 $335.65 02i'M2022 04/0812022 17 $285,000 $290,000 101.75 EV21225266 446 E 2nd Street 3 1 1,266 $231.83 10/10/2021 12/02/2021 9 $299.000 $293,500 98.16 N22019864 342 Santo Drive 2 1 944 $317.80 02/01/2022 03/04/2022 5 $250,000 $300,000 120.00 SW21252664 211 E 2nd Street 3 1 1,416 $211.86 11/19/2021 02/22/2022 75 $300,000 $300,000 100.00 DW21189391 157 N Sheriff Avenue 4 2 1,900 $157.89 08126/2021 02/09/2022 107 $300,000 $300,000 100.00 SW22027322 469 E Evans Street 2 2 902 $340.35 02/10/2022 ON2212022 14 $299,500 $307,000 10250 N22050701 361 W 5th Street 2 2 928 $334.05 03/11/2022 05/13/2022 5 $285,000 $310,000 108.77 21705984 198 S Mistletoe Avenue 4 2 1,323 $234.3203/15/2021 03/14/2022 261 SW5,000 $310,000 101.64 JT22023810 358 Crystal Drive 2 1 864 $359.95 02/06/2022 03J18/2022 9 $259.900 $311,000 119.66 CV21246516 410 Virginia Drive 3 1 988 $315.79 11J0912021 04/1512022 81 $295.000 $312,000 105.76 SW22056440 382 Santo Drive 2 1 864 $364.58 03r25/2022 05112/2022 9 $289,000 $315,000 109.00 SW21099365 228 S Santa Fe Avenue 3 2 1.167 $274.21 05111/2021 01/21/2022 108 $319.900 $320,000 100.Q3 IV21257621 426 W Main Street 3 1 1,110 $292.79 11114/2021 01/77/2022 4 $295.000 $325,000 110.17 SB21245172 247 N Dillon 3 2 1,080 $300.93 11/10/2021 02/14/2022 4 $279,000 $325.000 116.49 TR22043922 219 N Dillon Avenue 3 2 1.080 $310.19 03/04/2022 04/12/2022 4 $325.900 $335,000 102.79 CV21226161 237 W 2nd Street 4 1 1,446 $235.13 10/10/2021 11/29/2021 3 $325,000 $340,000 104.62 IV21259601 675 KESHA 3 2 1.473 $231.50 12AM2021 03AW2022 11 $285,000 $341,000 119.65 CV21205918 535 E 3rd Street 3 1 1,186 $296.11 09/17/2021 12/0112021 12 $344,900 $350.000 101.48 CV22056077 249 E 3rd Street 2 1 1,096 $323.91 03/20/2022 05/13/2022 15 $340,000 $355,000 104.41 • Data is dasoned raliebte. but Ms not been verdled by CRMLS and is not guaranteed. Appraisers should perform their own analysis of the date. and this report shell not replace the technical steps required or an Appraiser completing Form 1004MC. 1 I _L,:�- Serial# 76461 FES Form SCNLGL -"TOTAL" appraisal software by a la made, inc. - 1-800-ALAMODE esign.alamode.com/verify Single-family Closed Sales 1004MC within 1 Mile - Page 2 • sheet HoM1ws rtetlda�+t�erawestcom ,. Office: Slate Ltc. AG018181 #, a Fannie Mae 1004MC Statistics Detail. Prepared By- Shelli Holmes Listings as of 05/18r22 at 12:58 pm SW21231614 286 Bonita Avenue 4 2 1,249 $288.23 10/18/2021 11/29/2021 5 $349,900 $360,000 102.89 SW22050191 351 Oakhurst Drive 2 2 918 $392.16 03/13/2022 04/20/2022 3 $350,000 $360,000 102.86 SW21251266 852 S Miramar Avenue 3 2 1,183 $308.54 11/17/2021 01/31/2022 6 $350.000 $365,000 104.29 SW22030866 651 S Camino Los Banos 3 2 1,260 $289.68 02/16/2022 04/M2022 6 S349,900 S365,000 104.32 OC220DO729 436 N Vktorla Avenue 4 2 1,712 S216.12 011/01/2022 03/3l/2022 44 $369.995 S369,995 100.00 SW22000130 674 E Old 2nd Street 3 3 1.652 $223.97 01/02J2022 02/02/2022 8 $360,000 S370,000 102.78 SW21237675 298 Bonita Avenue 4 2 1,249 $296.24 10/26/2021 03/10/2022 26 $375,000 $370.000 98.67 EV22031790 493 E Shaver Street 3 2 1,236 $303,40 02117/2022 OY0412022 8 $359,900 S375,000 104.20 PW22025430 536 S Andrews Avenue 3 2 1.647 S227.69 02/11/2022 03/IWX22 16 $400,000 $375,000 93.75 219071540DA 416 Jonnle Way 3 2 1,435 $264.81 12/17/2021 01/2712022 9 $360,000 $380,000 105.56 SW21247876 567 Cypress Avenue 3 2 1,410 $27234 1//12/2021 12/30/2021 10 $350,000 $384,000 101.05 SW21191800 480 Beta Court 3 2 1,802 S213.65 08130/2021 11/22t2021 43 $379,000 $385,000 101.58 EV21212645 494 W 5th Street 4 2 1,334 $288.61 09/24=21 12/07/2021 32 $400.0D0 S385,00D 96.25 IV21263331 839 E 7th Street 5 2 2.034 $191.74 12/11/202/ 0211812022 21 $384.900 $390,000 101.33 EV21238525 502 S Rosario Avenue 2 2 1,284 $303.74 10/29/2021 03/1512022 18 $374.900 $390,000 104.03 PW220095N 653 E 1st Street 4 2 1,414 $275.81 01/16/2022 02117/2022 0 $385,000 $390,000 101.30 PTP2106901 455 E Main Street 3 2 1.705 $231.67 09/30/2021 01/27/2022 53 $390,000 $395,000 101.28 RS22038855 442 N Victoria Avenue 3 2 1,5W $254.84 02/27/2022 03/25/2022 3 $359,900 $395,000 109.75 OC21207477 1011 Titus Court 3 2 1,227 $326.00 09/20/2021 12/23r2021 27 $399.000 $400,000 100.25 SW22055120 1045 S Hewitt Street 3 2 1,195 $343.10 03/1912022 05/03/2022 13 S390,000 S410,000 105.13 SW22054599 127 N Vernon Avenue 3 2 1.337 $306-66 03/18/2022 05/04/2022 10 $399,000 $410,000 10276 SW22029395 603 Attenborough Way • 3 2 1.285 $320.62 02/17/2022 ON2412022 4 $395,000 S412.000 104.30 SW21259805 723 Margarita Street 4 2 1,348 $311.57 12/04/2021 01/10/2022 3 $399.000 $420,000 105.26 CV21161912 444 E Mead Street 4 3 1,832 $231.99 07123/2021 12/10/2021 94 $440,000 $425,000 96.59 CV21261301 628 Carribean Place 3 2 1,5% $276.35 12/06/2021 01/1012022 6 S389,000 S430,000 110.54 EV21186858 610 Laxford Road 4 3 1,967 $218.61 08/23/2021 01/03/2022 53 $455,000 $430.000 94.51 IG21193046 636 Nantucket Street 4 2 2,087 S21013 09/01/2021 11/23/2021 11 $399,900 $440,000 110.03 SW22045296 1145 Reward Street 3 2 1,268 $354.89 03M&2022 04/28/2022 7 $439,900 $450,000 102.30 IG22039492 395 Virginia Drive 3 3 1,968 $231.20 02/28/2022 03/24/2022 6 $425.000 S455,000 107.06 SW22022772 120 Tradewinds Lane 3 2 1,391 $330.70 01/31/2022 04/04/2022 9 $460,000 $460,000 100.00 SW22015093 951 E Evan Street 3 2 1,722 $271.20 01/20/2022 02/24/2022 8 $439,900 $467.000 106.16 PTP2108600 716 Nantucket Street 4 3 2,249 S208.98 12/21/2021 02/17/2022 9 $474.900 S470,000 98.97 OC21269317 541 Glory Street 3 3 2,113 $224.80 01/13/2022 04/1212022 33 $489,000 $475.000 97.14 PW22018953 573 S Andrews Avenue 3 3 2.398 1200.17 01/27/2022 03/25/2022 16 $475,000 S480,000 101.05 SW21240637 576 Miracle Drive 4 3 2,228 $224.42 11/02/2021 12/15/2021 8 S479,900 $500.000 104.19 IG21223559 271 Bahama Court 5 3 2.625 $191.62 10r06/2021 0212612022 58 5489,900 S503,000 102.67 IG21226411 117 Tradewirds Lane 4 3 2,661 $189.78 1GW2021 11/22/2021 4 $484,000 $505.000 104.34 Nix w deennd reliablebut las not been -died by CRMLS and is not guarenteed. Apprawers should perform their own analysis of the data, and this report shelf not replace the technical steps required of an Appraiser completing Form 1001MC. Serial# 76461 FE5 Form SCNLGL -"TOTAL" appraisal software by a la mode, inc.-1-800-ALAMODE esign.alamode.comlverify Single-family Closed Sales 1004MC within 1 Mile - Page 3 • • • Shell( Hoknes State tic A13018181 Fannie Mae 1004MC Statistics Detail. Prepared By Shelii Holmes Listings as of 05/18/22 at 12:58 pm Inventory Analysis Prior 7.12 Months Prior 4-6 Months Current - 3 Months (0511ar202141115r2021) (111162021-02115=22) 402/162022-0Y16/2022) Total It of Comparable Sales (Settled) 0 37 43 Absorption Rate (Total Sales/Months) 000 12.33 1433 Total # of Comparable Active Listings 12 7 0 Months of Housing Su Lst/Ab. Rate 0.00 0.57 0.00 Median Sale & List Price DOM Prior 7-12 Months Prior 4.6 Months Current - 3 Months Median Comparable Sale Pnce $0 $325,000 $355,000 Median Comparable Sales DOM 0 9 13 Median Comparable List Price (Listings Only) $302.500 $285,000 $0 Median Comparable Listings DOM (Listings Only) 56 17 0 Median Sale Price / Median List Price % 0.00% 101.59% 104.41 % 'The total number of Comparable Active Listings is based on listings that were On Market on the end date of the specified time periods above. Data o deemed reliable. but hea nol been verdied by CRMLS end is not guaranteed. Appraisers should perform thaw own arelysie of the MIA. and the report shell not replace the techr sl steps repuned of an Appraiser completing Form 10041VIC. Serial# 76461FE5 Form SCNLGL -`TOTAL" appraisal software by a la mode, me. - 1-800-ALAMDOE esign.alamode.comlverify CD Development Standards • • • CoMMERCM AND OFFICE 7.ONES 17220 Standards) (e.g., landscaping, parking and loading, signs, etc), Article 4 (Standards for Specific Land Uses (e.g., outdoor display and sales, outdoor storage, etc.), and Chapter 17.325 - Water Efficient Landscape and Irrigation. (ord. 16-01, adopted April 5, 2016) Table 2-6 Development Standards for Commercial and Office Zones Development Feature CD CN CG CR OP See Article 8 (Definitions) Parcel Dimensions Minimum dimensions required for each newly created parcel. Parcel area shall he Measured in termsofnet area, ae 4 WW in Article 8 ( ions), 3,500 sq. ft. Parcel Area (Net) ruinand 5 ODO sq. ft. 5t0DO sq. ft. 15 acres 5 acres 1 sq. it mex _ Parcel Width 50 ft 50 ft. 100 ft. 50 ft. 100 ft. 500 ft. 300 ft. Parcel Depth 70 ft. 250 it. 250 ft. Floor Area Ratio (FAIL) Maximum floor area ratio (FAR) allowed per net acre. See `Area, Net" in Article 8 nitions). Maximum FAR 2.0 AO AO 50 .35 Minimum setbacks required. See Section 17.305.120 for setback measurement, allowed projections into setbacks, and exceptions. See Article 4 (Standards for Specific land Setbacks Uses) for setback requirements applicable to specific land uses. Review Appendix I of the Landscape Design Guidelines for possible greater setback requirements on certain street$. Front None allowed t 15 Et 1 10 ft. 1 15 ft 15 R. Side (Interior) Abutting nonresidential None Abutting residential I 5 (i 10 R. 10 k. 35 ft 35 ft. Side (Street) None albwed 10 ft 10 ft. 20 ft. 20 ft Rear Abutting nonresidential None required None required None required P40M required 25 fL Abutting residential 1" floor - 5 ft 15 ft. 15 ft. 35 ft. 35 ft. 2ne door -10 ft HOW Maximum allowable height of structures. See Section 17305.060 and 17.405.050 E 3 (Accessory Structures) for height measurement requirements and height limit ezc bons. prioriary structure 1 35 ft. 45 ft. 45 ft. 45 ft. Accessory Statdtae 15 ft 15 ft. 15 ft. 15 & 15 ft. Impervious Surface Coverage Maximum percentage of the total grow parcel area that may be coeend by structures and impervioid surfacer. 9D% 1 80% 85% 90% 7D96 Structure Coverage Maximum ten a roes the total parcel area that be covered b structures. 90% 40% 1 5096 1 60% 1 40% SAN )Acim o DEVELOYMEWCOD4 TffLE 17 DtcEtasax 2012 2-37 Form SCNLGL - "TOTAL" appraisal software by a la mode. inc.-1-800-ALAMODE Serlal# 76461 FES es ian.alam odexomlverify Location Map � 0 Lender Client City of San Jacinto Property Address 181 E Main St _ City San Jacinto County Riverside State CA Zip Code 92583_ Appraiser Shelli A. Holmes a le mode Inc: 1w�arr�nrrarrrarwep 6 \jumont `) s I 181 E Main St • !ale San J - Hemet East Hemet g l 650 N Alessandro St 2.05 miles SW i Diamond Valley Lake Reservoir `I COMPARABLE Ni 284 E 5th St 0.11 miles SE Valle Vista 43000 Florida Ave 3.79 mfles SE sled MolrrLlo • I 1 miles eYin I M � C = TpnTom ®2Q22 racrosoa Corymacon Terms Serial# 76461FE5 Form MAP.LOC -"TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE esign.alamode.com/wrify Aerial Map • • Serial# 76461FE5 Form SCNLGL -"TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE esign.alamode.coml—ify Plat Map � 0 • 0 Lender Client City of San Jacinto Property Address 181 E Main St City San Jacinto County Riverside State CA Zip Code 92583 Appraiser Shelli A. Holmes S V2 NE 114 NW 114 SEC. 35 US RiW rtouxu.us (POR RO SAN JACINTO 1EJO) FEB 0 6 7bt0 �_ - — — ----- j SECOND ST " 041 042 102 _ _ ® o 7 1 046 1 (15 v 046 1a TRA J,P001 437-CL " 5 0 I II I ° � IS ®I @ 01 . --r- 12 �- (1D 14 9 16(17 19 1)mq n u r 200 Q m 91 MAIN ST !- *"Vil Form MAP.PLAT - "TOTAL" appraisal software by a la mode, inc.-1-800-ALAMODE Serial# 76461 FES esign.a lamode.c om/verif y d e d ••• •• Business, Consumer Services & Housing Agency BUREAU OF REAL ESTATE APPRAISERS ' REAL ESTATE APPRAISER LICENSE 1 1 c�ttroeM`r t Shelli A. Holmes i has successfully met the requirements for a license as a residential and commercial real estate appraiser in the j State of California and is, therefore, entitled to use the title: i "Certified General Real Estate Appraiser" This license has been issued in accordance with the provisions of the Real Estate Appraisers' Licensing and Certification Law. BREA APPRAISER IDENTIFICATION NUMBER: AG 016181 Effective Date: August 5, 2020 Date Expires: August 4, 2022 711arlin, Bureau Chief, BREA 3052819 0 0 0 E & 0 11 HUDSON INSURANCE COMPANY 100 William Street, 5" Floor New York, NY 10038 HunsoN IVSIiM>K r GRfx.r'� REAL ESTATE PROFESSIONAL ERRORS AND OMISSIONS INSURANCE POLICY DECLARATIONS NOTICE: THIS IS A "CLAIMS MADE AND REPORTED" POLICY. THIS POLICY REQUIRES THAT A CLAIM BE MADE AGAINST THE INSURED DURING THE POLICY PERIOD AND REPORTED TO THE INSURER, IN WRITING, DURING THE POLICY PERIOD OR AUTOMATIC EXTENDED REPORTING PERIOD. THIS POLICY MAY CONTAIN PROVISIONS WHICH LIMIT THE AMOUNT OF CLAIM EXPENSES THE INSURER IS RESPONSIBLE TO PAY IN CONNECTION WITH CLAIMS. CLAIM EXPENSES SHALL BE SUBJECT TO ANY DEDUCTIBLE AMOUNT. THE PAYMENT OF CLAIM EXPENSES WILL REDUCE THE LIMITS OF LIABILITY STATED IN ITEM 4. OF THE DECLARATIONS. PLEASE READ YOUR POLICY CAREFULLY. PLEASE READ THIS POLICY CAREFULLY. Policy Number: PRA-2RE-1001144 Renewal of: 1. Named Insured: Tierra West Appraisal & Land Use Dynamics, Inc (including Predecessor Entities and DBA's) 2. Address: 133 N Buena Vista St Suite 4 Hemet, CA 92543 3. Policy Period: From: April 20, 2022 To: April 20, 2023 12:01 A.M. Standard Time at the address of the Named Insured as stated in Number 2 above 4. Limit of Liability A. Per Claim: $1,000,000 B. Aggregate: $1,000,000 5. Deductible: $5,000 Each Claim 6. Policy Premium: State Taxes I Surcharges: $0.00 7. Retroactive Date: Full Prior Acts 8. Notice to Company: Notice of a Claim or Potential Claim should be sent to: Hudson Insurance Group 100 William Street. 5" Floor New York, NY 10038 Fax: 646-216-3786 Email: hudsonclaims300@hudsoninsgroup.com 9. A. Program Administrator: Riverton Insurance Agency Corp. B. Agent/Broker: OREP Insurance Services, LLC (888)347-5273 IN WITNESS WHEREOF, We have caused this policy to be executed by our President and our Corporate Secretary at New York, New York President • AlIiL�X4 Secretary alb - flgo11 Form SCNLGL -"TOTAL" appraisal software by a la mode. inc. - 1-800-ALAMODE Serial# 76461FE5 esign.alam ode. c omlve rdy