The Historic Rotunda Building

The Historic Rotunda Building

Deal Structure •Grant Obligations •DDA

Education- •Local Government Staff•Community •Development Team •Grantor Staff

• Buy out funds as a reserve

Financial Planning

• Reassessment by Municipal or County Tax Assessor.

• Transfer Tax• Tax Obligation of

Former Investor or Partner

• Communication

Buy Out-

Explanation of the Banc of America Historic Ventures/Rotunda Partners HTC deal2/8/2007

Prior to Project Completion 1999 - 2001

Date Amount Stipulation

Closing $1,000,000 Closing of escrow

4 months $2,000,000 25% verifiable project completion

7 months $2,000,000 50% verifiable project completion

10 months $2,000,000 75% verifiable project completion

14 months $2,000,000 Part III and Cert of Occupancy

First five years after Project Completion 2001 - 2006

Project pays 3% annual "preferred return" paid quarterly

Project pays B of A's projected-related income taxes (paid annually)

After five years 2006

Project sent executed letter demanding that B of A exercise its "put" option

On the first day, B of A exited the Project for the negotiated $1.8M (20% of HTCs)

California Capital Group Phil Tagami

300 Frank H. Ogawa Plaza, Suite 340 Oakland, CA 94612

510-268-8500 

Mark A. Moss & Company Mark A. Moss

300 Frank H. Ogawa Plaza, Suite 30 Oakland, CA 94612

510-663-6677