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<br />O.Lts <br />Page 29 <br /> <br />ATTACHMENT 2 <br /> <br />EXHIBIT C <br /> <br />land <br />Use Residential Floor Maximum <br />Class Description Area (square feet) location Special Tax <br /> Less than 1,375 Marina View <br /> 1,375 to less than Marina View <br />3 Residential Property 1.525 $5,422 per unit <br /> 1,525 or Greater NA <br />4 Below Market Rate Unit NA NA $0 per unit <br />5 Non-Residential Property NA NA $152,050 per acre <br />6 Hotel Property NA NA $159,660 per acre <br /> <br />(b) Increase in the Maximum Special Tax <br /> <br />The Fiscal Year 2010-2011 Maximum Special Tax, identified in Table 1 above, <br />as such table may be amended and restated in full pursuant to this Rate and <br />Method of Apportionment, shall increase, commencing on July 1, 2011 and on <br />July 1 of each Fiscal Year thereafter, by an amount equal to two percent (201'0) of <br />the Maximum Special Tax for the previous Fiscal Year. <br /> <br />(c) Multiple Land Use Classes <br /> <br />In some instances an Assessor's Parcel of Developed Property may contain <br />more than one Land Use Class. The Maximum Special Tax levied on an <br />Assessor's Parcel shall be the sum of the Maximum Special Taxes for all Land <br />Use Classes located on that Assessor's Parcel. The CFD Administrator's <br />allocation to each Land Use Class shall be final. <br /> <br />2. Undeveloped Property <br /> <br />The Fiscal Year 2010-2011 Maximum Special Tax for Undeveloped Property shall be <br />$181,637 per acre and shall increase, commencing on July 1, 2011 and on July 1 of <br />each Fiscal Year thereafter, by an amount equal to two percent (2%) of the Maximum <br />Special Tax for the previous Fiscal Year. <br /> <br />D. BUYDOWN OF OUTSTANDING BONDS <br /> <br />All of the requirements of this Section D, which describes the need for a Buydown of <br />Outstanding Bonds ("Buydown") that may result from a change in development as <br />determined pursuant to this Section D, shall only apply after the issuance of the first <br />series of CFD No. 2010-1 Bonds. Prior to the issuance of the first series of CFD No. <br />2010-1 Bonds, the terms of the Buydown shall not apply. <br /> <br />The following additional definitions apply to this Section D: <br /> <br />"Certificate of Satisfaction of Buydownll means a certificate from the CFD <br />Administrator stating that the property described in such certificate has met the <br />Buydown Requirement for such property as calculated under this Section D. <br />