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actions. There are no additional clean-up costs for the 1066 and 1152 Marina Boulevard properties. The Agency funded the costs for the Environmental Site Assessment Phase 1 audit for 1152 Marina Boulevard as well as a Lead Paint and Asbestos Survey for 1066 -1072 and 1152 Marina Boulevard. Total costs of $8,569 are expected for these items. The Agency also will incur costs for environmental review, noise analysis and a traffic study. These costs will total $31,310. The Agency is considering these combined total costs of $39,879 ($40,000 rounded) to be predevelopment costs that will not be passed on to the Auto Dealer. Demolition The parcels in the Agency Assemblage are improved with older commercial and residential structures. The Auto Dealer is planning on reusing some,of these existing improvements and • will demolish others. The Agency has received a bid for $10,000 for removal of asbestos - containing material and lead -based paint at 1066 -1072 Marina Boulevard prior to demolition. There will be no demolition costs for 1152 Marina Boulevard, as the Auto Dealer will remodel the improvements. The Auto Dealer will privately fund the $30,000 cost for . demolition of structures at 1066 -1072 Marina Boulevard, as detailed previously in the report. Related Acquisition Costs For the Agency Assemblage, there are two sets of closing costs:. (1) closing costs for the.sale • to the Agency and (2).the.subsequent.closing costs for the Agency 'conveyance to the Auto' .. Dealer. If it our understanding that in the sale of 1066 -1072 Marina Boulevard to the. ' Agency, costs are to be shared by the Agency and the seller.: Agency costs would include • recording costs, escrow fees and title insurance premiums. The seller of the properties would pay transfer taxes for the sale of the properties to the Agency, as well as pay off any bond assessments. In the sale of 1152 Marina Boulevard to the Agency, the Agency will pick up all closing costs. In the subsequent transfer of all of these properties from the Agency to the Auto Dealer, escrow fee, conveyance and transfer taxes will be shared. The Auto Dealer will pay the cost of title insurance premiums. The Agency's approximate closing costs as described above are $20,000. Business Relocations It is our understanding that the Seller/Trustee of 1066 -1072 Marina Boulevard will pay any business relocation costs for tenants on that property. The Agency will pay up to $5,000 to relocate equipment owned by former printing company at 1152 Marina Boulevard. • KEYS ER MARSTON ASSOCIATES INC. 190900014-003.doc Page 18