RDA Reso 2001-012 - Laserfiche WebLink

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B. Proposed 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 that 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 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. Portions of the Project that are not the subject of this reuse valuation include the following: • The Developer has acquired property at 765 Marina Boulevard in a private transaction, so it is not subject to the reuse valuation. The draft DDA specifies that a new and used automobile dealership with a 3,000 SF showroom is required on this parcel. • The Agency will acquire right of way for widening of Marina Boulevard fronting this site for $450,000. The acquisition is part of astreet-widening project that is already underway as part of the City of San Leandro's plans for Marina Boulevard and therefore is not subject to this reuse valuation. Conley Consulting Group Page 12 of 22 9-9 Bartarse Reuse 10300.006 v5 September, 2001