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<br />33433 Report-I 103 Davis Street <br /> <br />July 2005 <br /> <br />will be an effective way of managing traffic around the development while minimizing <br />interference with pedestrian traffic on Davis Street. The proposed development will add value to <br />the project area and its immediate vicinity, improving the appearance of this major entry route, <br />and removing a major source of visual blight, a vacant lot, that has been in existence for more <br />than 15 years. <br /> <br />CONCLUSION <br /> <br />The challenging conditions involved in new infill construction in general and on this unusually- <br />shaped site in particular, and development requirements from both the City and Agency, lead to a <br />reasonable expectation that the property's value is consistent with the appraised market value of <br />$520,000. In summary, the land price is approximately $20 per square foot ofland. <br /> <br />G:\DEPT\Ol1ice of Business DevelopmentlFiles RDAIPlaza\1103 Davis\1angon live-work\33433 report.doc <br /> <br />Page 5 <br />