I TEM W28 A – C ALIFORNIA C OASTAL C OMMISSION S OUTH C OAST D ISTRICT S LIDE 1 Sunshine Enterprises, LP

I TEM XXX – CDP A PPLICATION N UMBER XXX S LIDE 2 P ROJECT S ITE Item Th13c, Item W28a, Project Site Palisades Park

I TEM XXX – CDP A PPLICATION N UMBER XXX S LIDE 3 Photographs Item W28a, Shore Hotel on the Right and Pacific Ocean on the left Hotel Pool

I TEM XXX – CDP A PPLICATION N UMBER XXX S LIDE 4 A CCOMMODATIONS Item Th13c, Item W28a,

I TEM XXX – CDP A PPLICATION N UMBER XXX S LIDE 5 I N -L IEU M ITIGATION F EE F ORMULA Item Th13c, Item W28a, Cost of Hostel Bed Cost of Construction Cost of Land Total Mitigation Fee

I TEM XXX – CDP A PPLICATION N UMBER XXX S LIDE 6 I N -L IEU M ITIGATION F EE Item Th13c, Item W28a, Cost of Hostel Bed Construction: $42,120 per bed Land: $0 Fee: $42,120 per room

I TEM XXX – CDP A PPLICATION N UMBER XXX S LIDE 7 S UMMARY OF I N -L IEU M ITIGATION F EE Item Th13c, Item W28a, Cost of Hostel Bed ROOMSCALCULATIONMITIGATION 87 existing motel rooms. 72 low cost rooms removed $42,120 X 72 rooms =$3,032, new high cost rooms (164 new rooms – 72 rooms removed) (25% of 92 = 23 rooms) $42,120 X 23 rooms = $968,760 TOTAL MITIGATION $3,032,640 + $968,760 = $4,001,400 ADJUSTMENTS Minus amount paid to the City: ($4,001,400 - $1,211,688) $2,789,712 Plus 5% Administrative fee: ($2,789,712 X 5%) $139,485 TOTAL MITIGATION DUE: $2,929,197

I TEM XXX – CDP A PPLICATION N UMBER XXX S LIDE 8 R ECOMMENDATION Commission staff recommends APPROVAL of the hotel, as conditioned. Motion for approval can be found on Page 6 of the staff report. Item Th13c, Item W28a,