SUMMARY This property offers a developer the chance to acquire a well-defined project with significant, pre-negotiated fee waivers and a resolved airport land use conflict. While it requires re-entitlement, the extensive project history and existing agreements provide a clear and de-risked roadmap for bringing 32 new homes to the attractive Orcutt market. KEY FINANCIAL ADVANTAGES & REDUCED FEES • No School Fees for OUSD: A recorded settlement agreement with the Orcutt Union School District means a future developer will not have to pay school impact fees to the OUSD. This represents a considerable savings, as the current OUSD residential development fee is $3.69 per square foot as of June 2024, a potential savings of $160,000. • No Quimby/Park Fees: A settlement with Santa Barbara County states that Quimby/Park fees, currently $5,344 per single-family dwelling, will not be required as the map has already been recorded. This amounts to a potential savings of over $171,000. • No Affordable Housing In-Lieu Fees: The same settlement agreement with the county determined that no affordable housing mitigation would be required for the project, representing another significant potential cost reduction. • HOA Agreement in Place: A mediated settlement with the Northpoint Homeowner's