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■ The development of a 1.2 million square foot office complex on the property. <br />The City believes that both opportunity cost scenarios could eventually represent economically <br />viable development scenarios that would generate significant tax revenue to the General Fund. <br />In addition to the hypothetical "opportunity cost" scenarios, KMA also evaluated the proposed <br />Project's net impacts under the assumption that Kaiser would make a payment in -lieu of <br />property taxes that would be equivalent to the amount that it would owe if it weren't exempt as a <br />non-profit user. The findings of these analyses are presented in Section II D and E. <br />Keyser Marston Associates, Inc. Page 3 <br />\\Sf-fs1\wp\19\19096\19096.036\003-001.doc; March 2009 <br />