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22206 920 Shasta <br />Affordable Housing Plan and Density Bonus Request <br />November 5, 2024 <br />effort to deliver its high-quality standard of living to each resident and ensure that its homes <br />remain affordable in perpetuity, Abode operates and manages its own housing portfolio. <br />Its portfolio management experts ensure that each property is financially solvent, complies <br />with legal and regulatory requirements, and remains a viable real estate asset by monitoring <br />each property's financial, operational and physical performance, and identifying <br />opportunities for recapitalization and/or repositioning. <br />Abode Communities meets all of the criteria as a Qualifying Designee as outlined above. <br />Further Qualifying Designee, Abode Communities certifies that it does not have a record <br />of defaults, a record of systemic or procedural maintenance problems, housing or building <br />code violations, or a history of substantiated fair housing complaints at properties it owns <br />and/or operates, directly or through affiliated entities. A copy of Abode Communities <br />Litigation and Uniform Commercial Code "UCC" Filing search dated August 29, 2024 has <br />been submitted to the City. <br />Affordable Site: <br />The property value is $10,000,000 based on an appraisal dated December 23, 2023, which <br />exceeds the required Affordable Housing Impact Fee amount. <br />The property has "clear" title. A title report dated July 31, 2024 has been submitted to the <br />City for review. The title reports show that there are no liens securing the repayment of <br />debt or any other security instrument. There are no minor encumbrances, should any exist, <br />these shall be removed to satisfaction of the City at the time of property transfer to <br />Qualifying Designee or the City. The City shall have sole and absolute discretion to <br />approve the condition of title. The standard land donation requirement is that the property <br />is vacant undeveloped property; except that the City, at its sole and absolute discretion, <br />may accept property with existing improvements, so long as the donor takes all necessary <br />steps to avoid impacts on residents of existing residential structures. <br />In the event that the City needs to take possession of the land, Abode will agree to deliver <br />the Affordable Project site vacant at the City's request. There are currently existing <br />residential units occupied on the property as well as an operating public storage facility. <br />All leases, including the ones for the public storage facility are month-to-month. The <br />residential leases are cancelable by the owner. The public storage is owner operated and <br />will cease operations upon notice, allowing sufficient time to terminate the month-to- <br />month storage leases. The applicant acknowledges that the land donor must provide a <br />tenant relocation plan and payment of relocation benefits. (Relocation benefits to tenants <br />shall be provided in accordance with the California Relocation Assistance Act, as codified <br />Government Code 7260 et seq and the implementing regulations at 25 California Code of <br />Regulations Sections of 26 6000 et seq. The Relocation Plan is subject to review and <br />approval by the City prior to or concurrently with the resolution approving the acceptance <br />of the land to be donated (i.e., at entitlement approvals and not prior to land transfer. Below <br />is a summary of relocation actions. <br />ATTY/AGR/2025.084/920 SHASTA AFFORDABLE HOUSING LAND DONATION AGREEMENT <br />REV: 10-16-25 VR <br />Exhibit B-1 - 5 <br />