Agenda

Process Overview

Project

Discussion Items

Schedule

Questions and Answers

Process Overview

Process Overview

1. Market Research

2. Stakeholder Meetings and Community Workshops

3. Develop Conceptual Master Plan

4. Draft Entitlement Package

5. Public Review of Environmental Impacts

6. Modify and Approve Entitlement Package

7. Commence Development

8. Annual Review of Development Agreement

Market Research

Market Research

RetailResearch

RegionalRetail CentersOver 500,000SF

405405

Fox Hills MallFox Hills Mall900,000 SF900,000 SF

Baldwin Hills Crenshaw PlazaBaldwin Hills Crenshaw Plaza846,000 SF846,000 SF

South Bay GalleriaSouth Bay Galleria1,100,000 SF1,100,000 SF

South Bay PavilionSouth Bay Pavilion940,000 SF940,000 SF

Inglewood

Central City MarketplaceCentral City Marketplace810,000 SF810,000 SF

Westside PavilionWestside Pavilion760,000 SF760,000 SF

Del Amo Fashion CenterDel Amo Fashion Center3,000,000 SF3,000,000 SF

LAX

105105

1010

110110Area Under-Served byRegional Retail CentersArea Under-Served by

Regional Retail Centers

Manhattan VillageManhattan Village565,000 SF565,000 SF

Lakewood CenterLakewood Center2,100,000 SF2,100,000 SF

Stonewood CenterStonewood Center930,000 SF930,000 SF

Trade Areas

LAX

Primary (PTA) Population 251,907

Total Income$3.2 billion

Retail Spending$5,805 per capita

Secondary (STA) Population 666,319

Total Income$8.7 billion

Retail Spending$6,394 per capita

Retail Research

Trade Area Research Population and Trade area of 660,000 people

Population Projected to grow 1.2% per Year

Retail Spending Expected to Grow from $6.2Billion to $9 Billion in 10 Years

Analysts Forecast Site Can Take 4.2% of MarketArea Retail Sales

Capture Rate Allows 625,000 square feet ofRetail

Retail Research

Site Specific Summary Good Regional and Local Access

High Visibility from Century and Prairie

Prevalence of Large-Format Value-OrientedRetail Today

Opportunity to Create Hybrid Center withLifestyle Component

Residential Market Area

Residential Demand

Hollywood Park Capture

050

100150200250300350400

Under$150,000

$150-199,999

$200-249,999

$250-299,999

$300-349,999

$350-399,999

$400-449,999

$450-499,999

$500-599,999

$600-749,999

$750-$1Million

$1 Million+

CHMA DEMAND HOLLYWOOD PARK MARKET SHARE

Residential Research

Residential Market Summary Older Single-Family Detached Homes are

Dominant

Chronic Under-Supply of Housing vs. Demand

Fewer than 3,700 Residential Units in Planning(less than a year and a half of total demand)

Annual Demand of 1,400 Units per Year atPrices Above $350,000

$350,000 to $850,000 price range are themarket segments most active

Stakeholder Meetings

Stakeholder Meetings

Retail

Stakeholder Meetings

Residential

Stakeholder Meetings

Open Space

Stakeholder Meetings Summary

Regional outdoor retail lifestyle center fine dining restaurants movie theater grocery store shops with name brand tenants

Public parks programmed to accommodate all age groups Residential areas to create a variety of housing types

first-time home buyers move-up home buyers seniors and empty-nesters

Civic site that could potentially accommodate: educational facilities

multi-purpose community center with performing arts capabilities Hotel with meeting/banquet rooms

A Walkable Community

A Diverse and Inter-Generational Community

Project

Century and Prairie

Access Points

Primary

Secondary

Entry Monument

Public Street System

Public Street System

Lake Park

Lake Park

Arroyo Park

Arroyo Park

Bluff Park

Bluff Park

Champion Park

Champion Park

Mixed-Use Retail

Mixed-Use Retail

Casino

Casino Relocation

Hotel

Civic

Residential

Residential Imagery

Program

A complementary mix of land uses 620,000 sf of retail/commercial 75,000 sf office 2,995 housing units 10,000 sf HOA community room 25-acres of public parks

22.5 acres of public parks 2.5 acres of HOA swim facility

300-room hotel, with 20,000 sf of meeting space 100,000 to 120,000 sf Gaming Complex Casino

Off Track Betting Facility

Banquet Facility

4-acre Civic site

Discussion Items

Discussion Items

Affordable Housing

Job Training

Maintenance of Public Infrastructure

Traffic Impacts/Improvements

Police and Fire Services

Community Facilities District (CFD)

Redevelopment Areas

Affordable Housing

Redevelopment area requirement to produce 15% affordable housing (40%low and 60% moderate)

Options and subsidy for creation of 450 affordable units include:For-Sale $175 million

New Rental $110 million

Rehab of Ext. Rental $ 35 million

Funding of affordable housing could be provided from a combination:Housing Set-Aside $3.4 M annually $32.0 M in bond proceedsTax Increment $6.5M annually $61.3 M in bond proceeds

General Fund $2.1 M annually $19.8 M in bond proceeds

Location of affordable housing On-site

Off-site

Combination of on/off-site

Job Training Programs

Hollywood Park will allocate 1% of the hardconstruction costs to be applied towards jobtraining programs. This equates toapproximately $8 M.

Hollywood Park will implement programs withlocal community partners: South Bay Workforce Investment Board

Century Community Training Program

El Camino City College

Inglewood Unified School District

Non-Governmental Organizations

Maintenance of Public Infrastructure

Three types of Public Infrastructure Streets

Public Parks

Road Parkways

Proposed maintenance entities Streets [ City of Inglewood Public Works]

Public Parks [Master Homeowners Association]

Road Parkways [extend City Landscape &Lighting District to HP $119,000 annualrevenue.]

Traffic Impacts/Improvements

Traffic Study completed which examined 65intersections in Inglewood and surroundingareas.

Project Impacts Provide fair sharecontribution toward implementing ITS(signal synchronization) at 6 intersections.

Cumulative Impacts Provide fair sharecontribution toward implementingintersection improvements and ITS at 27intersections.

$4 M assumed for offsite traffic mitigationcosts borne by the project.

Security

Hollywood Park master plan incorporatessecurity considerations. Limited street entry points with entry monuments and security

cameras.

Curvilinear streets to reduce speeds and limit cut throughtraffic and drive by activities.

Private security for retail/entertainment center and residentialareas.

Secure residential parking facilities and building securitysystems with nighttime security lighting.

Police substation operated by the InglewoodPolice Department is assumed in theretail/entertainment center.

Community Facilities District (CFD)

Hollywood Park assumes CFD formation to pay forconstruction of:

On site streets and trunk line utilities

Public Parks

Offsite traffic mitigation

The CFD bonds will be repaid by a propertyassessment on new construction at the HollywoodPark Site. The CFD will not effect any otherInglewood property owners.

The CFD rate will be capped at a total property taxrate of 1.75%

Approval Process

Entitlement Package

Specific Plan

Fiscal Impact Report

Environmental Impact Report

Development Agreement

Owners Participation Agreement

Specific Plan

Fiscal Impact Report

Summary of Investment BenefitsDevelopment Buildout Net Increase

City General Fund Current (2007) Initial (2014)Full (2016) Initial PhaseNet Increase

Sales Tax 1,114,909$ 4,610,457$ 5,321,997$ 3,495,548$ 4,207,088$ Utility Tax 454,681 1,892,688 2,236,158 1,438,007 1,781,477 Gross Receipts Tax 481 319,983 423,485 319,502 423,004 Pari-Mutuel/Gaming Tax 5,826,892 6,035,959 6,410,779 209,067 583,887 Transient Occupancy Tax - - 2,163,235 - 2,163,235 Other Taxes 3,502 215,449 349,707 211,947 346,205 Total General Fund Revenues 7,400,465$ 13,074,536$ 16,905,361$ 5,674,071$ 9,504,896$ Less: Incremental City Services - (3,582,157) (3,800,310) (3,582,157) (3,800,310) Net General Fund Revenes 7,400,465$ 9,492,379$ 13,105,051$ 2,091,914$ 5,704,586$

City Redevelopment Agency

Property Tax Increment 1,112,391$ 17,902,816$ 20,313,684$ 16,790,425$ 19,201,293$ Less: 20% Housing Set-Aside (222,478) (3,580,563) (4,062,737) (3,358,085) (3,840,259) Less: Other Deductions (459,640) (7,397,443) (8,447,566) (6,937,803) (7,987,926) Net Tax Increment 430,273 6,924,810 7,803,381 6,494,537 7,373,108

Gross City Totals 7,830,738$ 16,417,189$ 20,908,432$ 8,586,451$ 13,077,694$

Fiscal Impact Report

Summary of Jobs and Economic Benefit $2.1 Billion in direct investment

Economic development infusion resulting inapproximately 25,000 construction andpermanent jobs

Tax revenues of up to $16.9 million annually tosupport city services, including police and fireprotection, libraries, parks and other programs

$373.2 million in revenue to the City in the first25 years of project operation

Draft EIR

Schedule

Entitlement Package Timeline

Documents

Jan - MarchJan - MarchApr- JuneApr- June

PublicPublicHearingsHearings

JulyJuly

Final EIRFinal EIRNotice ofNotice of

DeterminationDetermination

AugAug

DEIRDEIRPublicPublic

CirculationCirculationStaff ReviewStaff Review

SpecificSpecificPlan/DEIRPlan/DEIR

Project Process

Staff analysis ofDEIR

Public Review Updated DEIR

Public Hearings

Council Workshops- Process Overview- Traffic/Parking- Affordable

Housing- Fiscal Impact- Development

Agreement

Staff Review

PUBLICHEARINGS

Jan FEB MAR APR MAY JUN JUL AUG

Public Review of DEIR

Updated DEIR

Process

Traffic/Parking

Afford. Housing

Fiscal Impact

Dev. Agreement

Project Approval

Dev. Agreement

Questions and Answers