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EXHIBIT 2 <br />PROJECT TIMELINE <br />Major milestones are highlighted in black. <br />Date <br />Milestone <br />County and Developer Sign License Agreement for Site <br />Access — The Developer and County sign a Short Term <br />September 24, 2019 <br />License Agreement to allow the Developer to access the <br />County's property for environmental assessment over sixty <br />60 days. <br />Phase I Environmental Site Assessment ("Phase I ESA") <br />Report — The Phase I ESA prepared by Altec identified site <br />use history, previous underground storage tank removals, pre - <br />October 30, 2019 <br />2019 soil assessment activities, and Recognized <br />Environmental Conditions ("RECs") throughout the site. It <br />recommended additional soil sampling, geophysical <br />assessment and excavation to verify soil conditions and <br />evaluate risks. <br />County and Developer Sign License Agreement for Site <br />Access — Due to the expiration of the original License <br />December 16, 2019 <br />Agreement for site access, the Developer and County sign a <br />new Short Term License Agreement to allow the Developer to <br />access the County's property for environmental assessment <br />over seventy-five 75 days. <br />Phase II ESA Field Work — Altec's initial soil assessment <br />January 9-15, 2020 <br />based on findings and recommendations from the Phase I <br />ESA. <br />Phase II ESA Report— The Phase II ESA prepared by Altec <br />identified the potential location of an underground storage <br />tank that may not have been removed in 1988 with other <br />underground storage tanks and equipment. The report also <br />verified the existence of soil substances at various depths — <br />some of which exceed the screening levels for occupied <br />February 19, 2020 <br />residential structures. This includes Arsenic, Lead, Total <br />Petroleum Hydrocarbons (diesel and oil), Tetrachloroethylene <br />(PCE), and Total Recoverable Petroleum Hydrocarbon <br />(TRPH). Specifically, PCE was an unexpected contaminant <br />found at the site and the Phase II ESA Report recommended <br />additional environmental investigations to determine the <br />extent of the vertical and horizontal soil contamination on the <br />County and Authority properties. <br />Option Agreement — Option Agreement executed between <br />- • <br />the County, the Authority, and Developer (Washington Santa <br />Ana Housing Partners, L.P.) <br />March 9, 2020 <br />TCAC Financing Application — Developer submitted a tax <br />credit application to TCAC (First Competitive Application <br />one <br />