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III. COST OF THE AGREEMENT TO THE AGENCY <br />This section presents the total cost of the Agreement to the Agency, as well as the "net cost" of <br />the Project after consideration of the project revenues. The net cost can be either an actual cost, <br />when expenditures exceed receipts, or a net gain, when revenues created by implementation of <br />the Agreement exceed expenditures. <br />A. Gross Costs to the Agency <br />The estimated Agency costs for this Agreement are as follows:' <br />Acquisition <br />Tenant Relocation <br />Remediation <br />Demolition <br />Total Agency Costs <br />Estimated Costs <br />$4,103,000 <br />43, 000 <br />43,000 <br />346,000 <br />$4,535,000 <br />As shown above, the estimated cost to the Agency is roughly $4.535 million excluding <br />Agency costs that are attributable to disposition of the remainder of the Yokota property <br />and completion of an access road that will benefit other properties. On a present value <br />basis, the cost to the Agency is $4.535 million. <br />Gross Revenues to the Agency <br />The Project is located within the Alameda County-San Leandro Redevelopment Project. <br />As a result, the Agency will receive Property Tax Increment from the Project based on the <br />increased valuation in the project area. The net present value of projected Property Tax <br />Increment dollars to the Agency is estimated in Table 1.The Project is estimated to <br />generate the following revenues (in 2001/02 dollars) to the Agency: <br />Sale of Agency Property <br />Tax Increment Revenue (Net of County <br />Administration) <br /><Less> Housing Set-Aside Funds <br /><Less> Pass Thru Agreements <br /><Less> County Share <br />Net Tax Increment Revenue <br />Total Agency Revenues <br />$1,619,000 <br />(327,000) <br />(289,000) <br />518 000 <br />485,000 <br />$4,741,000 <br />These cost figures are the proportionate share of the costs attributable to acquisition and disposition of <br />the Yokota property, based on the SF of the Site and SF of the total Yokota property. All costs and <br />revenues figures are rounded. <br />Estimated Revenues <br />$4,256,000 <br />Conley Consulting Group Page 5 of 10 <br />9-9 Volvo Lavery 33433 10200.003 v5 September, 2001 <br />