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EXHIBIT 2 <br />Care Agency as a potential oversight agency for future <br />site assessment. The absence of agency oversight <br />could create issues down the road such as additional <br />work, duplication of previously completed <br />assessments, and potentially additional liability. <br />TCAC Financing Application — Developer submitted an <br />application to the California Tax Credit Allocation Committee <br />for the Second Competitive Application Funding Round. This <br />competitive application round included a one-time allotment of <br />July 1, 2020 <br />additional 9% federal tax credits through the Further <br />Consolidated Appropriations Act, 2020 ("FCAA") for <br />multifamily housing projects in designated areas affected by <br />the 2017 and 2018 wildfire disasters throughout California. <br />FCAA credits would not be available in subsequent financing <br />rounds. <br />Orange County Health Care Agency provided Remedial <br />Action Supervision ("RAS") Form to begin Voluntary <br />Oversight Process — Under direction from County staff and <br />July 9, 2020 <br />Authority staff, the Developer submitted the RAS form to <br />OCHCA. <br />Developer and its environmental consultant, Altec, began <br />preparing the Site Assessment Work Plan. <br />Developer Shared Proposal for Additional Site <br />Assessment with County and City and the County <br />Recommends Additional Testing — This site assessment <br />proposal included five (5) additional PCE borings, twenty (20) <br />additional TPH borings, assumed agency involvement, and <br />included an option for expedited sampling results. If <br />approved, this scope would increase the total Phase II ESA <br />costs from $67,705 to $131,611 which exceeded the <br />previously agreed upon $100,000 reimbursement limit and did <br />not include OCHCA oversight agency fees. <br />August 5-6, 2020 <br />In addition to the five (5) additional PCE borings on the City's <br />property (North Parcel), the County recommended adding two <br />(2) additional PCE borings on the County's property (South <br />Parcel) to help address the extent of the vertical and <br />horizontal contamination. <br />To keep costs as close to the $100,000 reimbursement limit <br />but still provide the necessary information to allow the <br />Developer to evaluate the opportunity to accept the FCAA <br />credits and under advisement from Altec and Geosyntec, the <br />Developer submitted a reduced scope for a total cost of <br />• <br />