Mueller Redevelopment

Vision Goals Vision and Goals Mueller will be an interactive mixed-use community, including residential neighborhoods, retail shops and services, and commercial offices Mueller will be a model for responsible urban planning and development Goals -Fiscal Responsibility -Diversity & Affordability -East Austin Revitalization -Neighborhood Compatibility -Economic Development -Sustainability

Development Program Current Density Overview: Institutional Retail Greenspace Commercial Residential Infrastructure Current Density Overview: 5,700 multi- and single-family homes 4.4 millions sf of commercial including: 1.9 million sf of institutional 1.3 million sf of office 750,000 sf of retail 435,000 sf of other development 140 acres of parks and open space 3

Mueller Now Parks and Open Spaces Homes Commercial 5 parks complete Over 75 acres of parks and open space in use 3 miles of trails complete Homes Approximately 800 single-family homes complete 642 apartments complete Nearly 1,500 families living in Mueller Commercial 400,000 sf of retail complete 1.3 million sf of commercial & institutional space complete 45 businesses open 2 corporate headquarters open Over 3,300 employees working in Mueller

Residential Mixed-Income Community Diverse housing types/prices Yard and Row Homes Shophouses Condos – Loft & Mansion-style Apartments / mixed-use buildings Affordable Homes Program 25% of total homes 30% - 80% MFI qualifying Interspersed and indistinguishable JMF notes: The top photograph is of the first multi-family project, Mosaic, constructed in Mueller. A second phase is slated to begin construction this year. The bottom image is an illustration of one of the multi-family Mueller houses, just under construction now along parkway running generally east-west through the neigborhood. Density per Acre: 10~20 du/ac MFI Chart for Austin, TX Household Size 1 2 3 4 5 6 7 8 60% Median Income 29,850 34,150 38,400 42,650 46,050 49,500 52,900 56,300 80% Median Income 39,850 45,500 51,200 56,900 61,450 66,000 70,550 75,100 Mueller Foundation Created to promote long term affordability Shared appreciation or shared equity program Mueller foundation places a second lien on an affordable home that matches the purchase price to the appraised value at time of purchase When home is sold Mueller Foundation retains first right of refusal If it is sold to a market purchases the Mueller Foundation is paid back the second lien and shares the profit based on % of orginial lien to home price Example: Affordable price is $150,000 but appraised value is $200,000 Mueller Foundation lien is $50,000 or 25% House is resold at $250,000 Mueller Foundation is repaid the $50,000 lien plus 25% of profits or $12,500 Affordable seller makes $37,500 in profits

Affordable Homes Program MDA Requirements Catellus to provide 25% of all housing for affordable-qualifying families 80% MFI for-sale 60% MFI for-rent Catellus to work with AHFC to increase the affordability and duration and to find funding sources Affordable-qualifying homes indistinguishable & interspersed in Mueller Achievements to Date 183 affordable homes sold 73 more affordable homes are underway 115 affordable apartments leasing; 30 more affordable apartments under construction

Wildflower Terrace 201 unit Senior Affordable Housing Development 171 Affordable Units (30-60% MFI) 3  Affordable Units (80% MFI) 27 Market Rate Units Financing City of Austin General Obligation Bonds 9% Competitive Low Income Housing Tax Credits Third-Party Financing Deferred Developer Fee Note Architecture governed by Mueller Design Guidelines

Multi-Modal / Transit-Oriented Infrastructure planned for future transit Planned urban rail stops within Mueller Commuter rail within 1 mile of Mueller Site served by multiple bus routes Corridors planned for rapid bus transit, bicycles, pedestrians Most residents and workers will be less than 10 minutes walk to transit Streets designed to distribute traffic to minimize impact on neighborhoods

Economic Impact MWBE Jobs Financial Impact Affordable Housing Extensive program to encourage minority-, women-owned construction, design & other business opportunities Jobs Over 13,000 full time jobs on site Over 11,000 construction jobs Financial Impact $5 million annual tax revenue to the city $60 million of tax revenue; $1 billion tax base 100% debt financing repaid with on-site tax revenues $175 million in public infrastructure Affordable Housing 25% (over 1,200) commitment to affordable homes interspersed throughout Mueller for-sale and for-rent homes Sustainability/Green Building Green Building Program and requirements for builders 9

Mueller as a National Model Sustainable Development 2007 U.S. Green Building Council, Denver 2008 Congress of the New Urbanism, Austin 2008 Urban Land Institute Greenbuild, Boston Public / Private Partnership 2009 Urban Land Institute, Los Angeles Affordable Housing 2008 Shared Equity Symposium, Portland 2008 Models of Excellence Study – ULI Terwilliger Awards 2001 Charter Award – Congress of the New Urbanism 2005 Award for Municipal Enrichment – National League of Cities 2008 Envision Central Texas – Community Stewardship for Redevelopment 2009 Excellence in Economic Development – IEDC 2010 Livable Cities Vision Award for Esthetics National and International Visitors Civic and business leaders; students and researchers