Table of Contents

1. Executive Summary

2. Approved Tentative Map

3. Aerial Photo

4. Assessor Parcel Map

5. Location Map

6-7. Location Assessment

8-10. City of Redding Demographics

Executive Summary

Tower Investments, LLC offers 93 approved tentative map SFR lots in the Tierra Knolls planned development community in Redding, California. The first phase of the original Tierra Oaks Estates development is built out and contains 86 beautiful, custom homes and lots. The centerpiece of the development is The Golf Club at Tierra Oaks, a championship 18-hole private golf course and country club.

Highlights of the approved tentative map and Planned Development include:

30 Golf course lots 63 Interior lots Lot sizes from .50 acres to 1.33 acres:

o .50 acres to .59 acres = 42 lots o .60 acres to .69 acres = 15 lots o .70 acres to .79 acres = 9 lots o .80 acres to .89 acres = 9 lots o .90 acres to .99 acres = 5 lots o 1.00 acres and above = 13 lots

Open Space = 25.71 acres Density = .83 units per acre Minimum building setbacks are:

o 25 feet = front o 30 feet = back o 15 feet = side

With lot frontage on five holes of The Golf Club at Tierra Oaks, Tierra Knolls will be a sister community to the existing Tierra Oaks Estates development. The proposed project envisions high quality, single-family homes in a rural setting with proposed guidelines that will protect the natural oak woodland environment and ensure the design of high quality homes. Proposed design guidelines have been crafted to emulate the overall quality of Tierra Oaks Estates while allowing Tierra Knolls to develop its own character.

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Approved Tentative Map

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Aerial Photo

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Assessor Parcel Map

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Project Location

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Location Assessment

Encompassing approximately 112.07 acres, Tierra Knolls is situated just 12 minutes northeast from downtown Redding, and less than 5 minutes east of I-5/Oasis Rd., nestled in 512 wooded acres surrounding the Tierra Oaks Golf Club (30 out of 93 lots are contiguous to the golf course). The approved 93 lot project area includes 47.48 acres of open area and has a density of .83 units per acre. Telephone poles are double wide lines. The power line easement is contiguous to 38 of the 93 lots. Tierra Oaks is generally bounded on the north by Union School Rd., I-5 to the west, and Oasis Rd.-Old Oregon Trail that runs from south to east. Tierra Knolls offers a unique blend of rural living and city convenience. There are no services from I-5 and Oasis Road until you are at Tierra Knolls, which is 3 miles away. According to the Department of Finance in 2004, Shasta County (Redding belongs to this county) had a population of 183,000, where as the City of Redding had a population of 88,459 and is the largest city in California north of Sacramento. Redding’s 2000-2020 General Plan projects the population will reach 96,769 by 2010 and 113,500 by 2020. Medical Facilities: Redding serves as the health care center for the northstate and is home to several major medical and rehab facilities. Redding Medical Center is a 238 bed, acute-care hospital with outstanding Cardiac Services. Mercy Medical Center has 273 beds and offers comprehensive health services, including acute-care. Northern California Rehab Hospital is an 88 bed hospital dedicated to providing comprehensive physical rehabilitation as well as acute and skilled nursing services. All of these facilities are within a 10 mile radius of Tierra Oaks. Education: Tierra Knolls will be part of the Gateway Unified School District. There are currently 3 schools that service this area: Grand Oaks Elementary School, Shasta Lake Middle School and Central Valley High School. The plan is for Shasta Lake Middle School to extend its grade level to K-8 in 2006. Shasta College and Simpson College are near by schools of higher education. Recreation: The City of Redding has: 3 community parks, 33 Neighborhood parks, 8 miles of Sacramento River Trail System, 8 lighted baseball fields, 2 public swimming pools, 3 boat launching facilities, numerous picnic facilities, 6 public golf courses, 2 private golf courses, and 3 movie complexes. Other attractions of Redding and Shasta County are:

The Golf Club at Tierra Oaks: This is a private 18 hole, very scenic course with somewhat narrow fairways lined with pine trees. This golf course offers a couple of membership packages: Individual membership at $195/mo. And Family membership at $230/mo. Initial transferable fee to join is $2,000 (allows member to sell anytime for 50% - $1,000). Initial non-transferable fee is $1,000

Turtle Bay Park and Museum: Located at 840 Auditorium Dr., Turtle Bay Exploration Park is an evolving 300-acre campus containing educational and entertaining activities that interpret the relationship between humans and nature. The Park tells the story of the region and its people through a 34,000 square foot museum, wildlife exhibits, a summer butterfly house, and the Forest Camp and Amphitheatre.

Sundial Bridge at Turtle Bay: The $19.7 million Sundial Bridge opened July 4, 2004, and has been a classic magnet for visitors and residents alike. Designed by Satiago Calatrava, a Spanish-born architect and engineer who specializes in New Urbanism concept. The bridge has an inclined, 217-foot pylon constructed of 580 tons of steel that acts as a sundial, telling time on a tile covered garden borer on the north side.

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Lake Shasta Caverns: O’Brien exit off I-5. These caverns are a delightful excursion for the entire family. The spectacular limestone and marble formations are surrounded by waterfalls embedded with sparkling crystals. There are daily guided tours.

Lassen Volcanic National Park: The park is located about an hour’s drive east of Redding via State Highway 44. The park encompasses 165 square miles of the 2,000 square miles of the Lassen National Forest. The Park attractions include 50 lakes, Lassen Peak, hot sulfur springs, beautiful waterfalls, six campgrounds and cross country skiing. Shasta Lake: A keystone of the Central Valley Project, Shasta Lake is the largest man-made reservoir in California. When full, its 370-mile shoreline exceeds that of San Francisco Bay. Shasta is the second largest and tallest concrete dam in the United States. Some of Redding’s annual events include: Kool April Nites in April that showcases classic cars and music of the ‘50s and ‘60s, Rodeo Week in May, Shasta Art Fair and Fiddle Jamboree in May, and the Air Show also held in May. Transportation: Highways Interstate 5, U.S. 299 and State Route 44 all intersect in the City of Redding. Interstate 5 connects Redding to Sacramento and San Francisco to the south, and Portland, Oregon to the north. State Highway 299 is another major highway connecting Redding west to Eureka and the Pacific Coast, and east to Alturas. State Highway 44 extends from Redding connecting Shasta County to Susanville, and Interstate 80 via U.S. Highway 395. Scheduled commuter airline service on Horizon Air and United Express serve San Francisco, Portland and Seattle with 14 flights daily. Charter and aircraft rentals are available from Redding Municipal Airport and Benton Airpark. The area is served by the Union Pacific Railroad and Amtrak. Shasta County is on the main north-south rail line that serves the entire West Coast.

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City of Redding Demographics

Nestled in the north end of the Sacramento Valley, Shasta County and its three Cities -Redding, Anderson, and Shasta Lake - are 540 miles north of Los Angeles, 150 miles north of Sacramento, and 433 miles south of Portland, Oregon.

CLIMATE (Redding Area)

Temperature RainPeriod

Min Avg Max Avg

January 37.4 46.2 54.9 8.0

July 68.1 83.3 98.4 0.2

Average Annual Precipitation - 39.4 inches

Average Annual Snowfall - 4.8 inches

Source: 2007 Shasta County Economic & Demographic Profile

TRANSPORTATION• Rail — Main Line — Union Pacific Railroad to Sacramento; San Francisco;

Los Angeles; Portland, Oregon; and Seattle, Washington. Amtrak north/south. • Truck — Daily service by several major carriers with several local, state, and

interstate carriers servicing California, Oregon, Washington, Nevada, and Arizona. One-day service to Portland/Seattle and Los Angeles.

• Air — Redding Municipal Airport and Benton Airpark. Daily commercial airline passenger service via United Express and Horizon Air.

• Bus — Greyhound, as well as other charter services. Also, local bus service (RABA), covering 71 square miles with 11 fixed routes.

• Highways — Interstate 5 freeway, north/south; U.S. 299, east/west; State Route 44, east; and State Route 273.

POPULATION

Population Redding Anderson Shasta Lake Countywide

July 1, 2001 81,494 9,068 9,045 163,850

July 1, 2006 90,033 10,418 10,228 179,951

Source: US Census Bureau Estimates

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OTHER STATISTICS

Redding Shasta County Median Income for a Family (2006) 41,682 44,120

Median Age (2006) 37.2 38.8

Ethnicity of Trade Area

White - 90% Black - 1%

American Indian - 4%Asian - 4%

Hispanic - 8%

White - 92% Black - 1%

American Indian - 3% Asian - 2%

Hispanic - 7% Median Monthly Apartment Rental $747 $747 Housing Units in 2006 37,000 68,000 Median Price Home in Shasta County (2007)* --- $239,500 Median Priced Home in California (2007)** --- $530,830

Sources: US Census Bureau, *Redding Record Searchlight, **CA Association of Realtors

SHASTA COUNTY LABOR FORCE

Shasta County Labor Force -- 2007

Civilian Labor Force 87,000 Civilian Employment 80,900 Civilian Unemployment 6,100 Civilian Unemployment Rate --CA Unemployment Rate--US Unemployment Rate

7.0% 5.4%4.4%

Industry Employment -- 2007

Retail Trade 10,400 Wholesale Trade 1,900 Finance, Insurance, Real Estate

2,800

Services 58,200 Government 13,300 Farm 2,300 Natural Resources/Mining 700 Manufacturing 3,300 Transportation/Utilities 2,700 Construction 5,100

Source: US Census Bureau Estimates

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MEDICAL SERVICES

• Veterans Medical Services • Two major hospitals totaling 430 beds and serviced by 380

physicians

EDUCATIONAL FACILITIES

46 Public Elementary Schools 6 Middle Schools 8 High Schools 30 Private Schools 2-Year Community College 4-Year State-Accredited Private College with a Master's Program 1¼-hour travel time to 4-year State university

Please visit the City of Redding's Economic Development Web Page for additional information.

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