Loading...
HomeMy WebLinkAbout2025/11/18 City Council Resolution 2025-086 RESOLUTION NO. 2025-086 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROHNERT PARK APPROVING THE DRAFT CONCEPTUAL DESIGN AND NON-BINDING PRELIMINARY STAGE TERM SHEET PURSUANT TO THE EXCLUSIVE AGREEMENT TO NEGOTIATE BETWEEN THE CITY OF ROHNERT PARK AND CENTERCAL PROPERTIES LLC FOR THE DEVELOPMENT OF 6400 STATE FARM DRIVE WHEREAS,the City is the owner of an approximately 29.88-acre parcel of real property, commonly known as 6400 State Farm Drive in Rohnert Park, California, Assessor Parcel Number 143-051-072-000 ("Property"); and WHEREAS, City issued a Request for Qualifications (RFQ) for development of the Property on November 1, 2023, with a deadline to submit qualifications by January 18, 2024; and WHERAS, the City reviewed all submissions received in response to the RFQ and determined that CenterCal Properties, LLC ("CenterCal") would be best suited to develop the Property; and WHEREAS, the City and CenterCal entered into an Exclusive Agreement to Negotiate ("ENA") dated October 22, 2024, governing an exclusive relationship to negotiate in good faith during two (2) phases of the overall "Negotiation Period": the Preliminary Stage and the DDA Stage, for the eventual purchase and sale and development of the Proeprty; and WHEREAS, during the first phase of the Negotiation Period, known as the Preliminary Stage, City staff have reviewed and commented on the Draft Conceptual Design prepared by CenterCal and negotiated a non-binding Preliminary Stage Term Sheet; and WHEREAS, the DDA Stage of the Negotiation Period does not commence unless and until the City Council approves the Draft Conceptual Design and non-binding Preliminary Stage Term Sheet before the expiration of the Preliminary Stage of the Negotiation Period; and WHEREAS, since the initial approval of the ENA, the City Council has twice approved extensions of the Preliminary Stage of the Negotiation Period to Dec. 31, 2025; now,therefore, be it RESOLVED, by the City Council of the City of Rohnert Park that it hereby finds as follows: 1. The City previously certified and approved an Environmental Impact Report ("PDA EIR") prepared in accordance with the requirements of the California Environmental Quality Act ("CEQA") and a Mitigation Monitoring and Reporting Plan ("PDA MMRP"), in connection with the approval of the Central Rohnert Priority Development Area Plan ("PDA Plan") and the Station Center Subarea and Downtown District Amenity Zone ("DDAZ") which encompasses and governs land use of the Property. 2. The ENA anticipates that CenterCal Properties will pursue land use entitlements that are consistent with the PDA Plan and the DDAZ and any development resulting from the execution of this ENA will be subject to the provisions of the PDA MMRP. 3. Notwithstanding that this action to approve the Draft Conceptual Design and non- binding Preliminary Stage Term Sheet is exempt from CEQA because it does not qualify as a "project"pursuant to Public Resource Code Section 21065 and CEQA Guidelines Sections 15320, 15378 and 15061(b)(3), because it can be seen with certainty that there is no possibility the City's action would cause either a direct physical change in the environment or a reasonably foreseeable indirect physical change in the environment, reliance on the PDA EIR for purposes of approval of the Draft Conceptual Design and non-binding Preliminary Stage Term Sheet is also appropriate at this time as there are no substantial changes to the project contemplated by the term sheet, no substantial changes to the circumstances under which the project contemplated is undertaken, and there is no new information of substantial importance, which was not known at the time the PDA EIR was certified, which would otherwise require the preparation of a subsequent EIR or supplement to the PDA EIR in accordance with CEQA Guidelines Section 15162 and 15163, respectively. 4. Furthermore, as provided in Sections 5 and 9 of the ENA,the land use entitlements required for any development of the Property remain subject to further CEQA review, and the City retains all discretion in accordance with the law to evaluate the environmental impacts of any proposed development on the Property proposed by CenterCal to the extent not adequately addressed in the PDA EIR; and, be it FURTHER RESOLVED, by the City Council of the City of Rohnert Park that the Draft Conceptual Design, attached hereto as Exhibit A, and the non-binding Preliminary Stage Term Sheet Negotiation Matters Pursuant to Exclusive Agreement to Negotiate between the City of Rohnert Park and CenterCal Properties, LLC, attached hereto as Exhibit B, are hereby approved; and, be it FURTHER RESOLVED, that the City Manager is hereby authorized to execute and to take all actions necessary to implement the non-binding Preliminary Stage Term Sheet on behalf of the City of Rohnert Park. DULY AND REGULARLY ADOPTED BY TH ► COUNCIL OF THE CITY OF ROHNERT PARK ON this 18th day of November, 2' . CI4 OF ' O •PARK .0 ����; !�- ;44 rti - ATTEST: ayor Sylvia Lopez Cuevas, City Clerk APPROVED AS TO ORM: - ti0j46 1 : , 0 , , , -__ Michael Biddle, Deputy' City Attorney Attachments: Exhibit A and B ADAMS: ELW D: ODRIGUEZ: I ANBORN: 'u/ GIUDICE: �-Q / ' YES: ( ) NOES: ( ABSENT: ( 41.0fr ABSTAIN: ( ) Re olution 2025-186 Page 2 of 2 Resolution 2025-086 Page 2 of 3 ENTERPRISE DRIVE S E E D F A R M D R I V E PROPERTY LINE ROHNERT PARK EXPRESSWAY S T A T E F A R M D R I V E 111 PROPERTY LINE 100'-0" 83 ' - 0 " 1 9 5 ' - 0 " 125' - 0 " 230'-0" 80 ' - 0 " 135'-0" 85 ' - 0 " 85'-0" 85'-0" U T I L I T I E S 2 0 0 S F 50'-2" 6 4 ' - 4 " 2 5 ' - 0 " 2 0 ' - 3 " 2 5 ' - 8 " 3 0 ' - 8 " UTILITIES 200 SF UTILITIES 200 SF UTILITIES 200 SF UT I L I T I E S 20 0 S F UT I L I T I E S 20 0 S F UTILITIES 200 SF B - 1 0 0 REST A U R A N T 6,223 S F B - 1 1 0 RETA I L 1,602 S F B - 1 2 0 RETA I L 1,450 S F B - 1 3 0 REST A U R A N T 3,74 8 S F C-100 R E S T A U R A N T 3, 1 5 2 S F C-105 R E T A I L 2 , 5 5 0 S F C-110 R E T A I L 3, 0 0 0 S F C-115 R E T A I L 3 , 4 0 1 S F C-120 RE T A I L 2, 2 4 4 S F C-125 R E S T A U R A N T 2, 1 8 3 S F D-100 RE S T A U R A N T 6 , 0 0 0 S F D-110 R E S T A U R A N T 2, 1 0 0 S F D-115 R E T A I L 2 , 0 9 7 S F D-120 R E T A I L 2 , 5 0 0 S F D-125 R E T A I L 2 , 9 5 3 S F D-130 R E T A I L 5 , 6 9 1 S F 24,400 SF A-100 GROCER 12,500 SF E-100 RETAIL F-155 RE S T A U R A N T 3, 2 4 5 S F F-150 RE T A I L 2, 0 5 1 S F F-140 RE S T A U R A N T 2, 3 4 7 S F F-135 RE S T A U R A N T 3, 5 0 3 S F F-130 RE T A I L 1, 9 5 1 S F F-125 RE T A I L 1, 7 1 0 S F 2,884 SF F-120 RESTAURANT F- 1 1 5 RETAIL 2,394 SF F- 1 1 0 RETAIL 1,704 SF F- 1 0 0 RETAIL 2,240 SF G- 1 1 0 RESTAURANT 3,170 SF G- 1 0 5 RESTAURANT 1,301 SF G- 1 0 0 RESTAURANT 4,000 SF H- 1 0 0 RETAIL 3,331 SF 85 ' - 0 " 78 ' - 0 " 85 ' - 0 " 13 5 ' - 0 " 90'-0" 11 0 ' - 0 " 70'-0" 72'-0 " 11 5 ' - 0 " 1,000 SF PV-10 RESTAURANT PD-A1 RESTAURANT 7,870 SF W M 39'-7" 30'-0"35'-2"42'-8"26'-9"29'-0" 72'-9"24'-10"24'-10"29'-8" 49'-8" 46'-10" 26'-10"31'-10"30'-8" 40'-7" 24'-11 " 27'-8" 31'-8" 3 9 ' - 1 " 20 ' - 4 " 27 ' - 8 " 20 ' - 0 " 26 ' - 3 " 41 ' - 2 " 15 ' - 1 " 41 ' - 2 " 38 ' - 8 " 1 8 ' - 6 " 43 ' - 3 " 1 9 ' - 7 " 47'-11" 93 ' - 9 " 64'-0" 3 6 ' - 1 " 28'-9"8'-11 " C O R R I D O R 10'-0" 22'- 6 " H O S P I T A L I T Y 3,480 SF H-115 RESTAURANT UTILIT I E S 200 S F RESIDENTIA L A R E A 510,729 SF 120 PARKING ST A L L S 24 24 12 13 18 7 17 13 9 11 5 8 19 9 16 6 15 8 5 15 15 1515 15 11 12 14 12 12 14 6 6 5 15 18 16 16 7 13 13 12 12 1212 17 3 5 11 3 44 5 15 13 13 13 13 13 7 4 13 19 18 413 13 11 13 4 123 11 10 9 311 19 238 55 91 F-145 RE T A I L 2, 5 0 0 S F H- 1 1 0 RESTAURANT 6,000 SF H- 1 0 5 RESTAURANT 3,480 SF RESIDEN T I A L RESIDEN T I A L RESIDEN T I A L RESIDEN T I A L RESIDEN T I A L 80 0 80 160 240 SCALE: 1" = 80' 26 August 2025 N PRELIMINARY LEASE PLAN PLP-03EVERSION: DISCLAIMER: ALL INFORMATION AND GRAPHIC REPRESENTATION CONTAINED ON THIS DRAWING IS PRELIMINARY AND SUBJECT TO CHANGE. NO REPRESENTATION EXPRESSED OR IMPLIED AS TO THE ACCURACY OR ADEQUACY REGARDING SUCH INFORMATION IS MADE BY THE OWNER OF THE PROJECT OR ANY OTHER RESPECTIVE PARTNER OR AGENT. NONE OF THE FOREGOING PARTIES SHALL HAVE ANY LIABLITY FOR SUCH ERRORS, OMMISSIONS, INCOMPLETENESS OR INACCURACIES. ANY PERSON OR ENTITY REVIEWING THIS SHOULD MAKE THEIR OWN INDEPENDENT INVESTIGATION OF THE INFORMATION CONTAINED HEREIN. FURTHERMORE, THE PARTIES ACKNOWLEDGE THAT THIS PLAN IS FOR IDENTIFICATION PURPOSES ONLY AND DOES NOT CONSTITUTE ANY COVENANT, PEPRESENTATION, OR WARRANTY BY LANDLORD THAT ANY EXISTING OR FUTURE CONDITIONS SHOWN EXIST, OR THAT IF THEY DO EXIST WILL CONTINUE TO EXIST, EXCEPT TO THE EXTENT SUCH COVENANT. REPRESENTATION OR WARRANTY IS EXPRESSLY SET FORTH IN WRITING BY BOTH PARTIES. DRAWING NOT TO SCALE. ROHNERT PARK ROHNERT PARK, CALIFORNIA Exhibit A 4856-9335-2920 v37 PRELIMINARY STAGE TERM SHEET NEGOTIATION MATTERS EXCLUSIVE AGREEMENT TO NEGOTIATE by and between CITY OF ROHNERT PARK (“City”) and CENTERCAL PROPERTIES, LLC (“Developer”) Docusign Envelope ID: 6514801A-548C-49FC-90CD-8F93665FC153 Exhibit B 2 | Page This non-binding term sheet summarizes key terms that the parties intend to be included in and form the basis of the Rohnert Park – CenterCal Disposition and Development Agreement (“DDA”). The parties acknowledge that the terms and conditions that may be included in the final DDA to be negotiated in good faith by the parties, and the information provided within this document is subject to further refinement and revision during the negotiations. 1) Determination of detailed Project description to include, at a minimum: a) no less than 300-450 urban-style residential dwelling units that interface with outdoor walkways using exterior entries, front porches, stoops, or other techniques to create an active urban environment, with at least 25% restricted as affordable to lower income households (80% Area Median Income) in accordance with requirements of the Surplus Land Act (“SLA Requirements”) outlined in Section 24 below ; b) a 100- to 160-key boutique hotel, upscale hotel, lifestyle-brand hotel, upper mid -scale hotel, or soft -brand hotel as defined by Smith Travel Research (STR) (“Upscale Hotel”); c) 65,000 to 160,000 square feet of retail development (drive-through businesses are not permitted), with Developer to exercise commercially reasonable efforts to create a merchandise mix with a blend of unique, non-chain merchants and restaurants, regional businesses and national brands; d) approximately 1- to 1.45-acre greenspace for downtown square or plaza that is the focal point for social and cultural life, showcases public art, and supports larger programmed community events as well as passive and active recreational activities; e) carve out of approximately 1.5-acres of the Property to be retained by City for a corporation yard (“Corporation Yard Parcel”); f) identification of a portion of the Property along the southern boundary adjoining Enterprise drive of a size to be determined (the “Southern Parcel”), which at Developer’s election shall either (i) be retained by Developer for inclusion in their Project site plan (“Southern Parcel Option 1”), or (ii) be retained by City for development as a public park at City’s sole cost and expense (“Southern Parcel Option 2”); g) Developer to relocate the existing city water main currently located within the Southern Parcel to public right -of -way (e.g. Enterprise Drive) or City controlled property or public utility easement and replace existing eight inch (8’) main to ten inch (10”) main at Developer’s sole cost and expense; Developer acknowledges that the relocation and upsizing of the water main is defined as “public work” under the Labor Code, and thus, the relocation and upsizing of the water main, and no other work, is subject to payment of prevailing wages and associated requirements thereof; h) interconnected system of streets and blocks that creates a walkable and pleasant Docusign Envelope ID: 6514801A-548C-49FC-90CD-8F93665FC153 3 | Page outdoor environment; interface with a public park or greenspace on the Southern Parcel pursuant to Southern Parcel Option 2; i) incorporation of Sustainability Elements, Historical Items of Interest, and Public Art as outlined on pages 20 and 21 of the Request for Qualifications (“RFQ”) issued by the City on November 1, 2023; j) provision of adequate on-site and on- street parking for residential and commercial uses, including visitors and events, consistent with City parking requirements, as may be amended, and the Metropolitan Transportation Commission’s Transit Oriented Communities Parking Management Policies. 2) Requirements related to phasing of development to ensure: a) affordable housing units are available for lease/sale and permitted for use and occupancy in accordance with SLA Requirements; b) 1- to 1.45-acre downtown square or plaza shall be under construction as a part of the first phase of development, and the square or plaza shall be completed prior to issuance of the first final certificate of occupancy (versus temporary certificate of occupancy) for non-residential development ; c) timing of (i) Developer off site work, limited to waterline relocation outlined in Section 1.g. above, (ii) City offsite work, limited to transportation improvements to roadways directly adjacent to the Property resulting from the process outlined in Section 13 below, and (iii) and Developer onsite public improvements, including roads, sidewalks, pathways, lighting, parks, on- street parking, and other community facilities and amenities to support the orderly development of the Project, related to each phase; d) timing of Developer’s election of Southern Parcel Option 1 or Southern Parcel Option 2, but in no event later than Developer’s submission of an application for a tentative subdivision map. e) Developer to prepare tentative map and one or more final maps for the subdivision of the Property for City’s review and approval in accordance with the City’s municipal code for the creation of legal parcels as is necessary for Developer’s proposed residential and non-residential development plan, inclusive of the affordable housing development (“Development Parcels”), as well as the Corporation Yard Parcel and Southern Parcel, if Developer elects Southern Parcel Option 2. The first final map shall create the Corporation Yard Parcel, Southern Parcel, as applicable, and may include one or more of the Development Parcels to be conveyed to Developer and shall be filed and recorded in the Official Records of the Sonoma County Recorder (“Official Records”) in connection with the close of escrow for the Development Parcels to be conveyed . Subsequent final maps shall be prepared by Developer and approved by the City in accordance with the approved tentative map and the City’s municipal code for the creation of legal parcels, and thereafter filed and recorded in the Official Records in connection Docusign Envelope ID: 6514801A-548C-49FC-90CD-8F93665FC153 4 | Page with the close of escrow for subsequent phases. 3) The terms for purchase and sale of an approximately 27.9-acre portion of the Property (final acreage subject to confirmation of City retained land for Corporation Yard Parcel and vesting of Southern Parcel depending on Developer election of Southern Parcel Option1 or Southern Parcel Option 2) for market rate housing, affordable housing, a shopping area (meeting the requirements as described in the project description set forth in Section 1 above), and a minimum 100-key Upscale Hotel. Requirement that any transfer of any portion of the Property shall be in its “as is with all faults” basis, condition, and state of repair, inclusive of any and all faults and defects, legal, physical or economic, whether known or unknown, coupled with a waiver and release of all claims against the City (subject only to representations and warranties as more particularly described in Subsection 3(d)). Purchase and sale terms to provide for the following: a) Purchase Price: The total purchase price for City’s entire interest in the Development Parcels, which (i) excludes the Corporation Yard Parcel and the Southern Parcel (subject to Developer election per Section 1(f)) shall be Eleven Million Two Hundred Thousand and 00/100 Dollars ($11,200,000.00). b) Earnest Money Deposit: Within two (2) business days following the execution of the DDA, Developer will deliver to: [________________] (the “Escrow Agent”) an earnest money deposit in the amount of Two Hundred Twenty Five Thousand and 00/100 Dollars ($225,000) (“Deposit”) which amount shall be held pursuant to a customary joint order escrow entered into by the Parties and accepted by Escrow Agent (“Escrow ”). After the expiration of the time to complete title and survey review and provided that the DDA is not otherwise timely terminated by Developer in accordance with its terms, the Deposit shall be non- refundable to Developer, except as otherwise expressly provided in the DDA. The Deposit shall be applicable to Purchase Price. c) Title and Survey: The DDA shall contain a standard title and survey review and objection process for any unpermitted exceptions shown in a title commitment or survey, including updates thereto. Such process will include the ability of the City to refuse a request by Developer to remove an exception objected to by Developer, which Developer may then either terminate the DDA or agree to accept title to the property subject to the exception it originally objected to. d) Representations and Warranties: Developer and City will negotiate representations and warranties in the Agreement , which are anticipated to include customary commercial representations and warranties that cover matters such as due authority, no conflicts, enforceability, no litigation, and certain third party rights (e.g., no right of first offer (“ROFO”), right of first refusal (“ROFR ”), leases, etc.). The parties may also negotiate representations and warranties to cover specific matters that may be identified Docusign Envelope ID: 6514801A-548C-49FC-90CD-8F93665FC153 5 | Page during its due diligence. e) Closing Costs and Expenses: Developer shall be responsible to pay all real property transfer taxes, the entire premium for any and all owner’s and lender’s policies of title insurance and any endorsements thereto, all costs and expenses associated with any survey, all recording charges, and one half of the escrow fee. City shall be responsible to pay one half of the escrow fee. The parties acknowledge that the City is exempt from the imposition of real property taxes and thus there will be no need to pro-rate real property taxes through the date of closing. f) Closing Conditions: In addition to customary closing conditions for commercial transactions of the nature contemplated herein, the following conditions shall have been satisfied or waived by Developer: Developer’s receipt of all entitlements, discretionary and other third party approvals, including final maps creating the parcel(s) to be transferred, and building permits required for Developer to commence construction; obtaining required project equity and financing; City not being in default under the DDA, execution and delivery of all documents into escrow and such other items as identified by Developer during the Negotiation Period of the Exclusive Agreement to Negotiate (“ENA ”) and agreed to by the parties in the DDA. The City will also have closing conditions that shall have been satisfied or waived by City, some of which are already listed in this document, including Developer not being in default under the DDA, filing and recording of final map, execution of public improvement agreement, posting of performance and payment bonds, securing all entitlements, securing building permits, securing and providing city reasonable evidence of all required equity and debt financing to fund the acquisition of the property and development of the project, evidence of liability insurance, confirmation of executed construction contract s for project construction acceptable to City (to be agreed upon in DDA), payment of development fees, execution and delivery of all documents into escrow, and such other items as identified by City during the Negotiation Period of the ENA and agreed to by the parties in the DDA. 4) The requirements regarding the marketing, leasing or sale of affordable housing units in accordance with the City’s Inclusionary Housing Ordinance (https://bit.ly/RohnertParkHousingOrdinance), as well as the timing of the availability of the affordable housing units for lease or sale in relation to the availability of non-residential development in accordance with the SLA Requirements as outlined in Section 24 below. 5) Terms regarding Developer development and maintenance of a dedicated website pertaining to the Project to support community outreach and engagement and provisions regarding regular update of the website regarding Project progress during the DDA stage. 6) Terms regarding the commercial tenants in the Project, including: (i) commercially reasonable efforts to incorporate local or regional shops and restaurants in the Project; (ii) prohibition on drive-through businesses; and (iii) limit use of ground floor space within the commercial area to retail or office uses. Docusign Envelope ID: 6514801A-548C-49FC-90CD-8F93665FC153 6 | Page 7) The terms, including conditions precedent to closing, under which City would convey the Development Parcels t o Developer by deed in one or more phases corresponding with Developer’s phased build out of the Project , including, without limitation, defining the onsite and off -site backbone infrastructure public facilities and infrastructure (e.g. parks, utilities, streets, curb/gutter/sidewalk, streetlights, street trees, traffic improvements, etc.) required for each phase, customary closing conditions for commercial real estate transactions, any other matters identified by the parties during the Negotiation Period of the ENA . In no case shall Developer be forced to close sooner than ninety (90) days from receipt of all discretionary entitlements or permits necessary to start construction on the Project, third party capital commitments, financing and a gross maximum price (“GMP”) contract commitment for the Project, all as acceptable to Developer in its sole discretion and , as noted in section 3.f. above, closing shall be contingent on Developer’s provision of evidence of equity and debt financing and construction contracts reasonably acceptable to the City . The terms under which Developer would have the right to extend such closing beyond an outside date for closing to be negotiated and defined in the DDA. 8) The terms related to City retention of “privately owned publicly accessible park/open space easement agreement ” (or such other form agreement as mutually agreed to) in the central community plaza/square to ensure City’s ability to access and program public events for use of this space in perpetuity, at no cost for City sponsored or permitted events; central community plaza/square, with greenspace of approximately 1 to 1.45 acres. The agreement shall be mutually agreed upon during negotiation of the DDA and attached as an agreement thereto. The parties understand and agree that the agreement will provide that the City’s rights to use the space will be perpetual, and shall include terms governing the scope and types of permissible use of the space (the City acknowledging that the space may be subject to certain prohibited and restricted uses imposed by retailers and other project stakeholders [e.g., hotel and residential developer], and the intent is that the City’s use will be non- commercial in nature), reasonable event rules and regulations, maintenance and cleanup, security, insurance, indemnification, scheduling and times of use, amongst others. The agreement shall make expressly clear that the only beneficiary of the agreement will be the City, and that the neither the general public nor any other third parties will be third party beneficiaries of the agreement or have any rights thereunder. 9) City retention of fee simple interest in the Corporate Yard Parcel and the Southern Parcel in the event Developer elect s Southern Parcel Option 2. 10) The terms, including conditions precedent to closing, under which Developer would be permitted to convey Development Parcels to one or more vertical developers. 11) Requirements regarding compliance with the City’s Local Workforce Protections as outlined on pages 17 and 18 of the RFQ. 12) Requirements for implementing site-wide mitigation and monitoring in accordance with the certified Central Rohnert Park Priority Development Area Plan Final Environmental Impact Report (“PDA EIR ”) for the Central Rohnert Park Priority Development Area Plan (“PDA Plan”), Central Rohnert Park Priority Development Area Plan Mitigation, Monitoring and Reporting Program (“PDA MMRP”), General Plan EIR, and other environmental documents, intended to mitigate impacts associated with development of the Property. Docusign Envelope ID: 6514801A-548C-49FC-90CD-8F93665FC153 7 | Page 13) Requirements for City funding and construction of offsite transportation improvements on roadways directly adjacent to the Property (i.e. Rohnert Park Expressway, State Farm Drive, Enterprise Drive) identified in the PDA EIR to facilitate development of the Property under t he PDA Plan, as may be modified pursuant to transportation stud ies or analyses to be undertaken in connection with Developer’s application for Project Approvals pursuant to the ENA, and construction thereof to be phased in relation to Developer’s project phasing and timing of available City funding, but in no case shall such work be phased in a way that prevents Developer from securing a Certificate of Occupancy. 14) Consideration of methods of financing the construction, installation and/or long- term maintenance of public improvements, including, potentially, via Mello-Roos Community Facilities District, Enhanced Infrastructure Finance District, Landscape and Lighting District or other tax-exempt financing vehicles. 15) Terms regarding potential City financial assistance with cost of public facilities and infrastructure (e.g. parks, utilities, streets, curb/gutter/sidewalk, streetlights, street trees, traffic improvements, etc.) required for the Project. 16) Provisions regarding the term of the DDA and outside dates and conditions for conveyance of land (e.g. evidence of financing, construction contracts executed, building permits ready to issue, fees paid, etc.) and construction of specified improvements in phases. 17) The terms, including conditions precedent, under which Developer would be obligated to commence each portion of onsite or off -site backbone infrastructure, if phased . 18) Terms relating to Developer’s obligation to fund and/or construct onsite community improvements such as the central community plaza/square. 19) The Project implementation milestones and other conditions precedent that the Developer would be required to satisfy before City would transfer one or more of the Development Parcels to Developer. 20) Terms regarding remedies in the event of failure of conditions precedent and/or default at various stages (prior to land conveyance, prior to development, after partial conveyance/development, etc.). The terms under which Developer would be permitted to assign or transfer its interests in the DDA. 21) The terms under which the City may repossess or repurchase the Development Parcels if the Project is not developed in accordance with timelines set forth in the DDA. 22) If commercially feasible and practical, a requirement to use commercially reasonable efforts to work with City to develop procedures to maximize City’s receipt of sales and use taxes resulting from the Project (“Taxable Purchasing Procedures”); provided, any such Taxable Purchasing Procedures shall not be a requirement for any contractor or vendor to participate in the Project. Taxable Purchasing Procedures may include requests for those that perform a significant portion of project work to use an address within the City for purchases and leases of Project related tangible personal property (goods, materials, equipment, tools, supplies, etc.) if commercially feasible and practical, and that, if commercially feasible and practical, sellers and lessors of such personal property either have Docusign Envelope ID: 6514801A-548C-49FC-90CD-8F93665FC153 8 | Page a physical presence within California; or if located out of state, collect California use tax. 23) Any other issues that the Parties mutually agree to negotiate. 24) Compliance with SLA Requirements pursuant to California Government Code Section 54221 (f)(1)(H), set forth below: (H) (i) Surplus land totaling 10 or more acres, consisting of either a single parcel, or two or more adjacent or non-adjacent parcels combined for disposition to one or more buyers pursuant to a plan or ordinance adopted by the legislative body of the local agency, or a state statute. That surplus land shall be subject to a local agency’s open, competitive solicitation process or put out to open, competitive bid by a local agency, provided that all entities identified in subdivision (a) of Section 54222 will be invited to participate in the process for a housing or mixed -use development. (ii) The aggregate development shall include the greater of the following: (I) Not less than three hundred residential units (II) A number of residential units equal to 10 times the number of acres of the surplus land or 10,000 residential units, whichever is less. (iii) At least 25 percent of the residential units shall be restricted to lower income households, as defined in Section 50079.5 of the Health and Safety Code, with an affordable sales price or an affordable rent pursuant to Sections 50052.5 and 50053 of the Health and Safety Code, for a minimum of 55 years for rental housing, land use for ownership housing, and 50 years for rental or ownership housing located on tribal trust lands. (iv) If nonresidential development is included in the development pursuant to this subparagraph, at least 25 percent of the total planned units affordable to lower income households shall be made available for lease or sale and permitted for use and occupancy before or at the same time with every 25 percent of nonresidential development made available for lease or sale and permitted for use and occupancy. (v) A violation of this subparagraph is subject to the penalties described in Section 54230.5. Those penalties are in addition to any remedy a court may order for violation of this subparagraph. A local agency shall only dispose of land pursuant to this subparagraph through a disposition and development agreement that includes an indemnification clause that provides that if an action occurs after disposition violates this subparagraph, the person or entity that acquired the property shall be liable for the penalties. (vi) The requirements of clauses (i) to (v), inclusive, shall be contained in a covenant or restriction recorded against the surplus land at the time of sale that shall run with the land and be enforceable against any owner who violates the covenant or restriction and each successor in interest who continues the violation. IN WITNESS WHEREOF, the Parties have executed this non -binding Preliminary Stage Term Sheet effective as of the date of execution by the City Manager noted below. Docusign Envelope ID: 6514801A-548C-49FC-90CD-8F93665FC153 9 | Page CITY: DEVELOPER: CITY OF ROHNERT PARK , a California municipal corporation CENTERCAL PROPERTIES, LLC, a Delaware limited liability company By: By: Name: Marcela Piedra Name: Jean-Paul Wardy Title: City Manager Date: ___________________, 2025 Title: Chief Executive Officer ATTEST: ___________________________/_______ City Clerk Date APPROVED AS TO FORM: By: Michelle Marchetta Kenyon, City Attorney Docusign Envelope ID: 6514801A-548C-49FC-90CD-8F93665FC153 11/11/2025