RDA Reso 2001-012 - Laserfiche WebLink

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I. SUMMARY OF SALIENT FACTORS AND CONDITIONS A. Assignment The purpose of this analysis is to determine the fair reuse value for the proposed Batarse Family Trust Project Site ("Site") which is being conveyed by the Agency to the Developer, given the specific development agreed to in the draft Disposition and Development Agreement ("DDA") by and between the Redevelopment Agency of the City of San Leandro ("Agency") and Batarse Family Trust, U.T.A, Anthony A. Batarse, Jr. Trustee ("Developer"), dated September 5, 2001. If there are substantive revisions to the DDA subsequent to the draft on which this evaluation is based, the conclusions of this evaluation may no longer be valid. B. Project The proposed Batarse Family Trust development ("Project") consists of several components, only some of which are the subject of this reuse valuation. That portion of the development subject to this reuse valuation includes of construction of an auto dealership comprised of 50,000 square feet ("SF") of commercial space on a 161,852 SF site. The site is a portion of what is known as the Yokota property, which consisted of three parcels (467, 505 and 517 Marina Boulevard) to be purchased by the Agency, and then subdivided into different parcels. The approximately 161,852 SF Site is the western portion of the approximately 389,514 SF Yokota property. The Project will have two buildings, a 35,000 SF sales facility and a 15,000 SF administrative facility. The remainder of the Site will be developed with pavement, lighting and landscaping. The draft DDA specifies that the improvements to the Site shall include automobile showrooms, a minimum frontage of 150 feet, a minimum size of not less than 20,000 net SF, and landscaping on the front and side of at least ten feet depth from the back of the sidewalk. A road providing access to the Project and an adjacent project planned to be a separate auto dealership will be constructed on a portion of the Yokota property that will be retained by the Agency. Also, the Agency will contribute to the Developer tax increment collected in an amount equal to half of the local 1 % portion of the sales tax collected by the City from the Project, up to $600,000. The draft DDA specifies that the dealership being constructed on the Site and related properties described below be built to the same quality as other dealerships at 1314 and 1152 Marina Boulevard. Conley Consulting Group Page 3 of 22 9-9 Bartarse Reuse 10300.006 v5 September, 2001