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The Auto Dealer is also considering additional parcels, without Agency financial assistance. There are two parcels: '1200 Marina Boulevard (for a new or used car dealership) and 1444 Marina Boulevard (for vehicle storage). The status of these parcels are in varying stages of commitment. Therefore, they are excluded from this analysis. 2. Private Assemblage - Additional Obligations The Auto Dealer will incur additional cost obligations in order to secure a cleared site ready. for development. These costs must be included in this analysis, as we are comparing the Auto Dealer's site assemblage costs to other auto dealers' land costs. The value range indicated by the comparables are for cleared sites ready for development with no extraordi- nary site preparation'costs, such as remediation. Below are summarized the Auto Dealer's additional obligations. Environmental Remediation The Auto Dealer has negotiated a clean-up plan for its private purchase of 1302 -1314 Marina Boulevard. The Auto Dealer is buying this property "as is." The Buyer (dealer) has budgeted $75,000 for clean-up. This arrangement is independent of the Agency agreement with the Auto Dealer regarding clean -up costs for the other properties. The Auto Dealer is assuming the risk that the clean up costs could be higher. Demolition Several of the parcels in:the Private.Assemblage are improved .with'.older commercial and . industrial structures. The Auto Dealer is planning on reusing some of these existing improvements and will demolish others. According to the Agency, the Auto Dealer would be responsible for demolishing any improvements and rough grading and compacting the Private Assemblage and there would be no costs to the Agency. The cost to the Dealer will range from $40,000 to $120,000 depending on the extent of the demolition work. This analysis assumes a cost of $80,000 for demolition. The Auto Dealer will also fund additional demolition costs of $30,000 to demolish the single family house at 1072 Marina Boulevard. Business Relocations The Auto Dealer may negotiate relocation of tenants from 1302 -1314 Marina Boulevard. Multiple leases exist on various portions of the property. They are short-term in nature and the Auto Dealer is working with individual leases regarding relocation plans. This analysis assumes the Auto Dealer has no business relocation costs. 1909614014 - 003 da K E Y S E R M A R S T O N I N C.