Reso 2001-158 - Laserfiche WebLink

Home

III. COST OF THE AGREEMENT TO THE AGENCY This section presents the total cost of the Agreement to the Agency, as well as the "net cost" of the Project after consideration of the project revenues. The net cost can be either an actual cost, when expenditures exceed receipts, or a net gain, when revenues created by implementation of the Agreement exceed expenditures. A. Gross Costs to the Agency The estimated Agency costs for this Agreement are as follows:' Estimated Costs Acquisition $3,947,000 Tenant Relocation 42,000 Remediation 42,000 Demolition 332,000 Contribution of Tax Increment (in 2001/02 dollars) 517,000 Total Agency Costs $4,880,000 As shown above, the estimated cost to the Agency is roughly $4.88 million excluding Agency costs that are attributable to disposition of the remainder of the Yokota property and completion of an access road that will benefit other properties. On a present value basis, the cost to the Agency is $4.88 million. B. Gross Revenues to the Agency The Project is located within the Alameda County-San Leandro Redevelopment Project. As a result, the Agency will receive Property Tax Increment from the Project based on the increased valuation in the project area. The net present value of projected Property Tax Increment dollars is estimated in Table 1. The Project is estimated to generate the following revenues (in 2001/02 dollars) to the Agency: Sale of Agency Property Tax Increment Revenue (Net of County Administration) <Less> Housing Set-Aside Funds <Less> Pass Thru Agreements <Less> County Share Net Tax Increment Revenue Total Agency Revenues Estimated Revenues $3,237,000 $2,025,000 (409,000) (362,000) 64j 8,000) $606,000 $3,843,000 These figures are the proportionate share of the costs attributable to acquisition and disposition of the Yokota property, based on the SF of the Site and SF of the total Yokota property. All cost and revenue figures are rounded. Conley Consulting Group Page 7 of 12 9-9 Batarse Site 33433 10300.002 v5 September, 2001