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Public Benefits to Cities and Counties and Cost/Benefit Analysis for Loss of Tax Revenue Under the Program's Public Benefit Agreement, the City/County, at its sole discretion, may force a sale of the property between Year 15 and Year 30 (the final maturity of the bonds), and the City/County, along with other taxing agencies (including the School Districts)would receive the net sale proceeds. • All properties are financed through the issuance of tax-exempt bonds and have no equity partners which means that after paying off the bond payments upon a sale, all excess sales proceeds go to the City/County and other taxing agencies. • The City/County never has to own the property unless it wants to, and still receives all the financial benefits. • The City/County incurs no fees, costs, liability, or administrative responsibilities in connection with the program or individual projects. • All properties are maintained with extensive required reserves and best-in-class property management and asset administration. • All excess cash flow goes right back into the property to maintain the asset in "Class A" condition over 30-years or to pay down the bond principal. • The City/County may elect to allocate the proceeds from the sale of the asset as it desires between the City, County and School District(s). Completed Projects & Participating Cities • $4.5 billion in Bonds Issued for Projects throughout California. • 7,400+ Units Acquired and Converted for Low- and Middle-Income Residents. • City of Carson (2 Projects) • City of Anaheim (4 Projects) • City of Long Beach • City of Monrovia • City of Glendale (2 Projects) • City of Pasadena (4 Projects) • City of Dublin • City of Orange (2 Projects) • City of Santa Rosa (2 Projects) • City of Fairfield (2 Projects) • City of Pomona (2 Projects) • City of Hawthorne • City of Pleasant Hill • City of Escondido For more Information, please contact Jon Penkower(jpenkower(&cscda.org or 925-476-5887) www.cscd a.o rq