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V. LIMITING CONDITIONS <br />1. The analysis contained in this report is based in part on data from published sources, <br />such as the City of San Leandro's 2009/10 Budget, the California Department of <br />Finance, and the demographics research firm Claritas. While we believe that the <br />assumptions are reasonable and these sources are accurate, we cannot guarantee their <br />accuracy. <br />2. The findings are based on the development concept specified in the report. If the <br />development program varies from the assumed concept, the findings of this analysis <br />may not be valid. <br />3. The findings are based on economic rather than political considerations. Therefore, they <br />should not be construed as a representation that government approvals for development <br />can be secured. <br />4. Revenue or cost projections contained in this report are based on the best project - <br />specific and fiscal data available at this time as well as experience of our firm with <br />comparable projects. These projections are reasonable and appropriate for planning <br />purposes. However, actual revenues and expenses may vary considerably from the <br />projections due to a number of factors including changes in: the development program, <br />maintenance costs, the tax structure, legislation, market conditions, assessment <br />appeals, County assessor practices, etc. No warranty or representation is made that any <br />of these estimates or projections will actually materialize. <br />5. KMA's analysis is based in part on input from the City of San Leandro and Kaiser <br />Foundation Hospitals obtained through interviews, responses to KMA questionnaires, <br />and assessment of departmental impacts. While we believe that the information we were <br />provided is reasonable and accurate, we cannot guarantee its accuracy. <br />6. We assume that all applicable laws and governmental regulations in place as of <br />December 1, 2009 will remain unchanged. In the event that this assumption does not <br />hold true in the future, such as utility user tax rates changing, then the findings of this <br />analysis may no longer be valid. <br />Keyser Marston Associates, Inc. Page 21 <br />\\Sf-fs1\wp\19\19096\19096.036\003-001.doc; March 2009 <br />