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9/14/2010 <br /> Financing project the �V rj <br /> y oec K t ry y w <br /> t� -iA�4?iztr;s Ili ..- - ;.� F . i tt iY lw'I4� uric..- 7 rx-n-A.RaNII[ idyl bleeYV osty <br /> ❑ Typically roadway improvements are paid for by <br /> parcels receiving benefit. <br /> ❑ Developers install roads and then include the cost in <br /> the selling price of adjacent land. <br /> ❑ The cost of recent improvements to Walnut Drive <br /> was split between the property owners and the City. <br /> ❑ Eden Road cost, including land, is estimated be <br /> between $5M and $7M. <br /> Financing the Project <br /> ❑ Port of Oakland has agreed to contribute $660,000 <br /> ❑ Bayside Business Center has agreed to contribute 4% of <br /> project costs <br /> ❑ An assessment district can be established to fund the <br /> remaining balance. Assessment Districts require 2 council <br /> actions. <br /> ❑ Cost for each property will be proportional to the benefit <br /> received (property value + vehicle access). <br /> 2 <br />