OTHER PROJECTS UNDER CONSIDERATION BY CMB

CMB is continually exploring other investment opportunities for our prospective clients with the six former military regions contained withing the CMB Regional Center. Investments under review are involve both the public and private sector entities.  Some of the projects under consideration include:

• CONTINUATION OF FUNDING INFRASTRUCTURE WITH THE IVDA

In March of 2007 the Inland Valley Development Agency (IVDA), the government reuse agency for the authorized CMB to raise $38 million for various infrastructure upgrade projects.  There is over $20 million in projects still remaining.

• CITY OF REDLANDS INFRASTRUCTURE

Redlands is currently seeking City Council approval for authority to borrow approximately $10 million for a number of downtown infrastructure projects.  The primary project involves the construction of new municipal storm drainage system.  This new system will open the way for a new $100 million hotel, shopping, office and amusement park complex in the downtown area.

• CITY OF APPLE VALLEY INFRASTRUCTURE

The City of Apple Valley is in the exploratory stages of creating a Community Facilities District (CFD) as part of a long-term financial plan to fund critical infrastructure for the development of a new commercial and industrial park in Apple Valley.  The CFD will be financed by the taxes and fees assessed to future tenants at the park.  In the meantime, the City would require $5 – $7 million to hook up the area to City sewer and water as well as power and gas.

• CITY OF ADELANTO INFRASTRUCTURE

The City of Adelanto, to the immediate west the former George Air Force Base, is looking to the bond market, the credit market and CMB for $4 million in construction financing for new support infrastructure for a major retail complex involving three big box retailers and several smaller retail and food service establishments.

• SACRAMENTO ARMY DEPOT FISHER PROPERTIES

The City of Sacramento and Fischer Properties of Seattle, Washington, the joint owner-operators of the former Sacramento Army Depot, in a feasibility study for the development of a new ethanol and renewable fuels plant at the old Arm Depot.  Fischer Properties purchased the majority of the developable land and commercial building within the Depot confines from the City seven years ago.  CMB is researching the feasibility of providing a portion of the capital for this project.