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Related Bristol: Annual Development Agreement Compliance Review <br />Reporting Period: 2025 – 1st Report <br />1. Background <br />2. Development and Construction Summary (Development Agreement 6.1.2.a) <br />Use Approved (SF/Units/Keys) Completed in Period Cumulative Total Completed Remaining to be Completed Status & Look Ahead <br />Residential 3,750 Units 0 Units 0 Units 3,750 Units <br />Hotel 250 Keys 0 Keys 0 Keys 250 Keys <br />Commercial (New)350,000 SF 0 SF 0 SF 350,000 SF <br />Senior Living 200 Units 0 Units 0 Units 200 Units <br />3. Additional Project Component Summary <br />Use Status & Look Ahead <br />Parking <br />Site Development <br />Public Infrastructure <br />Design Features <br />Community Benefits <br />Plaza <br />Education, Culture, Arts <br />4. Economic Projection Summary (Development Agreement 6.1.2.c) <br />Revenue Category Total for Period Cumulative to Date % Increase Over 2025 Base Year Status & Look Ahead <br />Property Tax $0.00 $0.00 0% Anticipated to increase once first development has commenced. <br />Property Tax in-Lieu of VLF $0.00 $0.00 0% Anticipated to increase once first development has commenced. <br />Sales Tax $0.00 $0.00 0% Anticipated to increase once first retail use is completed and open. <br />TOT (HVT)$0.00 $0.00 0% Anticipated to increase once hotel is completed and open. <br />Business Tax $0.00 $0.00 0% Anticipated to increase once first development is completed. <br />Franchise Tax $0.00 $0.00 0% Anticipated to increase once first development is completed. <br />Utility Users Tax (UUT)$0.00 $0.00 0% Anticipated to increase once first development is completed. <br />Reporting Period: 2025 – 1st Report <br />Reporting Period: 2025 – 1st Report <br />On November 15, 2024, RCR Bristol, LLC entered into a development agreement with the City of Santa Ana (Development Agreement No. 2023-02). As required by the agreement, ownership must submit an annual monitoring report detailing <br />the status of the development of Related Bristol and the new tax revenue generated by the project. <br /> <br />The Annual Review shall include a progress report on the status of the implementation of the project and the new tax revenue generated by the Project, including, but not limited to, the following: site development, public infrastructure, project <br />design features, community benefits, plaza, hotel, residential, commercial, office, parking, and philanthropic activities (Education, Culture, Arts). <br />Additional project components such as parking, site development, public infrastructure, etc. will be addressed with each Implementing Project. <br />As of March 10, 2025, RCR Bristol LLC has entered into a Ground <br />Lease for the Premises and is in compliance with Section 2.4.1 of <br />the Development Agreement. Additionally, the Project remains on <br />track and in compliance with timing requirements stipulated by <br />Section 3.5 in the Development Agreement. Project is currently <br />targeting to submit its first Implementing Project in 2026, subject <br />to market conditions. <br />1 <br />