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TABLE 2 <br /> Expected Residential Dwelling Units per Land Use Class and Non - Residential Acreage <br /> CFD No. 2010 -1 (One Marina) <br /> *4a ;•; # 1r era i ` ' " f 4 <br /> 5i � 3 i <br /> f 9} k R'Z`I if Ft 1 t C1 p <br /> Ik i ° a : !, e 0, � � ; s t w . w + � s sic sac i _ <br /> " asr,m• w � .�a: ?'�'b.,a ., - 5 �? ._= ,. �r x � �,G.. k /.r A ,F <br /> 1 Residential Property Less than 1,375 Non -Marina View 10 units <br /> 1,375 to less than 1,525 Non -Marina View <br /> 2 Residential Property 72 units <br /> Less than 1,375 Marina View <br /> 1,375 to less than 1,525 Marina View <br /> 3 Residential Property 117 units <br /> 1,525 or Greater NA <br /> 4 Below Market Rate Unit NA NA 32 units <br /> 5 Non - Residential Property NA NA 0.00 acres <br /> 3. Calculation of Buydown Requirement <br /> If a Buydown calculation is required as determined by the CFD Administrator pursuant to <br /> paragraph 2 above, the CFD Administrator shall review the current Development Plan for CFD <br /> No. 2010 -1 in consultation with the current property owners for all remaining Undeveloped <br /> Property in CFD No. 2010 -1, and shall prepare an updated version of Table 2 identifying the <br /> revised number of residential dwelling units or the amount of non - residential Acreage anticipated <br /> within each Land Use Class. The CFD Administrator shall not be responsible for any delays in <br /> preparing the updated Table 2 that result from a refusal on the part of one or more current <br /> property owners of Undeveloped Property to provide information on their future development. <br /> The CFD Administrator shall then review the updated Table 2 and determine the Buydown <br /> Requirement, if any, to be applied to the property identified in the request for Letter of <br /> Compliance to assure CFD No. 2010 -I's ability to collect the Maximum Special Tax equal to <br /> 110% debt service coverage on the Outstanding Bonds, plus the Administrative Expenses as <br /> defined in Section A herein. The calculations shall be undertaken by the CFD Administrator, <br /> based on the data in the updated Table 2, as follows: <br /> Step 1. Compute the sum of the Maximum Special Tax authorized to be levied on all <br /> Developed Property and Update Property within CFD No. 2010 -1, plus the sum of <br /> the Maximum Special Tax authorized to be levied on all future development as <br /> identified in the current Development Plan assuming buildout, as determined by the <br /> CFD Administrator in consultation with the property owner(s). <br /> Step 2. Determine the amount of Maximum Special Taxes required to provide 110% debt <br /> service coverage on the Outstanding Bonds, plus the Administrative Expenses as <br /> defined in Section A herein. <br /> B -11 <br /> 302108 1.doc <br /> __ i <br />