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08/09/2010 <br />EXHIBIT C <br />ATTACHMENT 2 <br />2010 -1 shall not be less than 231 residential dwelling units, and the amount of non- <br />residential Acreage will not be more than 0.00 acres, then a Letter of Compliance shall <br />be submitted to the City and /or property owner by the CFD Administrator approving the <br />issuance of the requested building permits for the subject property. This Letter of <br />Compliance shall be submitted to the City and /or property owner by the CFD <br />Administrator within ten days of the submittal of the request for Letter of Compliance by <br />the property owner. However, should (i) the building permits requested, plus those <br />previously issued, cause the total number of residential dwelling units or the amount of <br />non - residential Acreage within any such Land Use Class to exceed the number of <br />residential dwelling units or the amount of non - residential Acreage for such Land Use <br />Class identified in Table 2 below, or (ii) the CFD Administrator determines that changes <br />in the Development Plan may cause a decrease in the number of residential dwelling <br />units within CFD No. 2010 -1 to below 231 residential dwelling units or an increase in the <br />amount of non - residential Acreage to above 0.00 acres, then a Letter of Compliance will <br />not be issued and the CFD Administrator will be directed to determine if a Buydown <br />shall be required. The number of residential dwelling units and non - residential Acreage, <br />as listed in Table 2 below, shall be updated by the CFD Administrator prior to the <br />issuance of the first series of CFD No. 2010 -1 Bonds to reflect the current Development <br />Plan for CFD No. 2010 -1. <br />TABLE 2 <br />Expected Residential Dwelling Units per Land Use Class and Non - Residential <br />Acreage <br />CFD No. 2010 -1 (One Marina) <br />Land <br />Use <br />Class <br />Description <br />Residential Floor <br />Area (square feet) <br />Location <br />Number of <br />Units /Acres <br />1 <br />Residential Property <br />Less than 1,375 <br />Non - Marina View <br />10 units <br />2 <br />Residential Property <br />1,375 to less than <br />1,525 <br />Non - Marina View <br />72 units <br />Less than 1,375 <br />Marina View <br />3 <br />Residential Property <br />1,375 to less than <br />1,525 <br />Marina View <br />117 units <br />1,525 or Greater <br />NA <br />4 <br />Below Market Rate Unit <br />NA <br />NA <br />i <br />32 units <br />5 <br />Non - Residential Property <br />NA <br />NA <br />0.00 acres <br />3. Calculation of Buydown Requirement <br />If a Buydown calculation is required as determined by the CFD Administrator pursuant <br />to paragraph 2 above, the CFD Administrator shall review the current Development Plan <br />for CFD No. 2010 -1 in consultation with the current property owners for all remaining <br />Undeveloped Property in CFD No. 2010 -1, and shall prepare an updated version of <br />Table 2 identifying the revised number of residential dwelling units or the amount of <br />non - residential Acreage anticipated within each Land Use Class. The CFD <br />Administrator shall not be responsible for any delays in preparing the updated Table 2 <br />#15048 <br />MUFF #506 <br />