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ALLAN D. KOTIN & ASSOCIATES DESCRIPTION

Allan D. Kotin & Associates (ADK&A) is a real estate economics consulting firm based in Los Angeles, providing creative and innovative strategies and financially feasible solutions to complex real estate and policy issues. Since its founding in 1980, the firm has been involved in all major land uses: residential, retail, office, industrial, recreational, retirement, hospitality and mixed-use projects. ADK&A now specializes in assisting both public agencies and private clients in soliciting, structuring, and implementing public private joint ventures. ADK&A expertise spans traditional redevelopment projects, public sector asset management, ground lease arrangements in ports, marinas and university campuses, and specialized public/private sale-leaseback and lease/leaseback transactions.

Allan Kotin has prior hands-on experience with developers, mortgage bankers, financial analysts, asset managers and redevelopment staff. Services include:

CORPORATE HISTORY

Beginning as Allan D. Kotin Economic Consultants in 1974, Allan Kotin in 1980 founded Kotin, Regan & Mouchly, Inc. (KRM). Between 1994 and 1996, KRM operated as a general partner of Sedway Kotin Mouchly Group (SKMG). After January 1, 1997 the company operated as KMG Consulting (Kotin Mouchly Group) until June 1998, when PCR Services Corporation acquired its assets and personnel, after which the staff operated as the PCR Kotin (economics) division of PCR. Allan Kotin left PCR to form ADK&A in August 2001.

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ABOUT OUR SERVICES

FINANCIAL FEASIBILITY

ADK&A prepares development feasibility analyses to obtain both public and private financing for real estate projects. Our rigorous financial analyses utilize both standard models such as Argus and ProJect and our own custom financial software. We compare project cash flows and return-on-investment measures to industry standards to rank alternative courses of action. ADK&A uses comprehensive sensitivity analyses to identify and assess opportunities or risks not readily apparent in the initial development concept. This capability includes applications to the full range of real estate development and investment. We have created detailed projections for large-scale community developments; numerous large urban mixed-use projects; and a full range of retail, office, hotel and industrial projects.

Catellus Development Corporation retained ADK&A to develop a complex financial feasibility and fiscal impact model in conjunction with their proposed multi-phase mixed-use redevelopment of a 35 acre railroad yard adjacent to downtown Santa Fe. Both the financial feasibility and fiscal impact analysis were modeled in an integrated fashion to determine the financial feasibility of the project and the type and quantity of fiscal benefits that would be generated for the City. The analysis incorporated market data on a wide variety of different land uses (including owner occupied housing, rental housing, retail, office and public facilities) and evaluated the performance of the project under a range of scenarios. The output from the fiscal impact analysis was utilized to formulate a public assistance program necessary for the project to meet threshold returns.

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PUBLIC/PRIVATE JOINT VENTURES

ADK&A assists public agencies and private-sector clients on all aspects of real estate transactions from preparing and responding to requests for proposals to structuring acquisitions, debt financing and ground leases. As consultants to over 40 redevelopment agencies in California, we understand the financial constraints and opportunities available for real estate assistance, and we have helped to negotiate numerous development agreements for projects involving all major land uses.

ADK&A also assists public and private-sector clients with the negotiation of complex transactions, leases and financing. We excel at helping public and private parties to understand each other's constraints and objectives, often discovering areas in which complementary needs can be structured for mutual benefit. ADK&A expedites this process by incorporating the experience gained from public/private joint ventures with all types of public-sector clients.

ADK&A has assisted the Los Angeles County Department of Beaches and Harbors on its 50 ground leases in Marina Del Rey since 1985. As KRM, ADK&A was retained by the Trammell Crow Company to assist the firm in the negotiation of a long-term ground lease with the City of Commerce for the Citadel retail center. For the City of Santa Barbara, ADK&A assisted in developer selection and ground lease negotiation for Paseo Nuevo, a highly successful downtown shopping center.

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ECONOMIC DEVELOPMENT AND REDEVELOPMENT

ADK&A helps communities to increase their municipal revenues, strengthen employment opportunities and foster sustainable economic growth. We deliver realistic and financeable downtown revitalization plans, business retention and attraction strategies, targeted industry studies, economic base analyses, neighborhood-based community development plans and development strategies for special use facilities. ADK&A fosters coordination between municipal economic development, redevelopment and local planning departments to enhance their competitiveness.

ADK&A assisted the City of San Jose in developing an incentive program to attract retail developers. As KRM, ADK&A helped the City of Oxnard create an independent Economic Development Corporation. In Lancaster, ADK&A worked with the redevelopment agency to design a 20-year master plan for a major industrial development around the county's general aviation airport. As part of a downtown strategic plan, the City of Manhattan Beach retained ADK&A to assess the economic framework of the downtown and to suggest strategies to maintain and enhance its vitality. Finally, ADK&A was part of a team which developed a mixed development plan for an 18-block corridor in downtown Des Moines, Iowa.

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TRAINING AND SEMINARS

ADK&A offers training seminars to real estate professionals. We focus on teaching the financial analysis of various real estate products, tailoring the training to the specific needs of the audience. Our real estate development training encompasses site selection, market assessment and financial feasibility analysis. We offer courses at several levels, focusing on how to analyze development pro formas using computer models to demonstrate the impact of varying assumptions on financial results.

ADK&A's owner, Allan Kotin, in addition to his academic teaching, has held senior positions at the California Redevelopment Association (CRA) and the National Council for Urban Economic Development (CUED), leading numerous seminars and workshops for those organizations. He has also served as faculty at the University of Southern California (USC) and the University of California at Los Angeles (UCLA). Allan has been a frequent speaker for CUED, CALED, the California Redevelopment Association (CRA) and the National Association of Housing and Redevelopment Officials (NAHRO) and has offered workshops for several of these organizations as well as for cities, including Pasadena, Long Beach and Pomona.

SELECTED PRIVATE CLIENTS

DEVELOPERS AND LAND OWNERS

Catellus Development Company
Champion Development Company
Columbia Group
Disney Development Company
Donahue & Schriber
Evans Hotels
Forest City Development
J.H. Snyder Company
JMB Realty
Larwin Company
Newhall Land & Farming
SEC Corporation (Dos Lagos)

OTHER PROFESSIONALS

Allen, Matkins, Leck, Gamble & Mallory
Arnold & Porter
Arter & Hadden
Best, Best & Krieger
Brobeck, Phleger & Harrison
Brown, Winfield & Canzoneri
Hamilton, Rabinovitz & Alschuler
Higgs, Fletcher & Mack
Nossaman, Guthner, Knox & Elliott
Skadden, Arps, Slate, Meagher & Flom

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SELECTED PUBLIC CLIENTS

CITIES, COUNTIES, REDEVELOPMENT AGENCIES AND OTHER PUBLIC AGENCIES

Bell Gardens
Burbank
Cerritos
Concord
Contra Costa County
Des Moines, Iowa
Diamond Bar
Fontana
Foster City
Glendale
Lake Forest
Lancaster
Los Angeles
Los Angeles County
Monterey Park
Morro Bay
Ontario
Oxnard
Pasadena
Phoenix, Arizona
Pomona
Rancho Mirage
Riverside County
San Bernardino
San Diego County
San Jose
San Luis Obispo
Santa Barbara
Santa Clara
Santa Clarita
Santa Monica
Stockton
Ventura
Ventura County
Vista

TRANSPORTATION

Los Angeles County Metropolitan
Transportation Authority (MTA)
Santa Barbara Airport
Worldport LA (Port of Los Angeles)

NOT-FOR-PROFIT

California Housing Finance Agency
California Redevelopment Association
San Diego National Sports Foundation
The Salvation Army
The Trust for Public Land

EDUCATION

California State University, Northridge
Cerritos Community College
Coast Community College
Conjeo Valley Unified School District
John F. Kennedy University
Manhattan Beach Unified School District
Occidental College
Santa Monica-Malibu Unified School District
Scottsdale Unified School District

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