Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Transfer and Assumption Application for Long-Term Tax Abatement Financial Agreement. Purpose: Assignment and Assumption of Long Term Tax Abatement from 1180 Astro Urban Renewal Investors, LLC to 1180 Raymond Urban Renewal, LLC. Entity Name: 1180 Raymond Urban Renewal, LLC Entity Address: c/o KBS Realty Advisors, LLC; 620 Newport Center Drive, Suite 1300, Newport Beach, California 92660 Abatement Period: 30 years (started in 2005) Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a List of Property: (Address/Block/Lot/Ward) 1180 Raymond Boulevard/Block 144/ Lot 9/Central Ward Additional Information: Ordinance 6PHS&FD March 2, 2005, approved a 30-year Tax Abatement and the Issuance of Redevelopment Area Bonds for the Redevelopment Project.