Laserfiche WebLink
<br />21 <br /> <br />within the entire district. The lot square footage of a parcel are defined on the County <br />Assessor’s parcel maps and were confirmed by New City America staff and City of San Leandro. <br /> <br />Commercial Condominium Parcels Defined: <br />Ground floor commercial condominiums will be treated like independent “mini” commercial <br />buildings and assessed based on their divided building area, the footprint of land they cover, <br />and the amount of direct street frontage towards the exterior of the building. Ground floor <br />commercial condominiums will pay 100% of the special benefits for the assessment based upon <br />the benefit zone rates. <br /> <br />Residential Condo Unit Parcels Defined: <br />Condo Residential Unit building square footage is defined as the livable building square footage <br />within the walls of the condo residential unit parcel. They are included in a special zone to <br />designate their unique special benefits relative to the other commercial parcels within the <br />Downtown San Leandro CBD. Unlike the other commercial parcels in the district, including <br />commercially operated apartment buildings, residential condo parcels are assessed for building <br />square footage only, and are not assessed for linear frontage and lot square footage. <br /> <br />Ground floor commercial condos or office condos would be assessed just as other commercial <br />properties, based upon their location in a benefit zone. <br /> <br />Residential condo individually assessed parcels are assessed as a separate category. These <br />residential condo individual parcels will be assessed for their building square footage only at the <br />rate of $0.20 per square foot per year, commencing the first year of the new District. The <br />rationale for assessing residential condos only for the building square footage rate is provided <br />below. <br /> <br />Residential condo individually assessed parcels are assessed differently than multi-unit, for-rent <br />apartment buildings, due to the frequency of special benefit services required by each parcel as <br />described below. The multi-unit apartment buildings are commercial properties in which the <br />tenant and landlord have an economic relationship as opposed to residential condo buildings <br />where individual property owners own separate air space parcels on a single lot. Residential <br />apartment buildings can be bought or sold just as like commercial buildings whereas residential <br />condo individual units are separately owned and must be individually bought and sold. <br /> <br />Distinctions between residential apartment buildings with tenants and residential condominium <br />building with individual unit owners are as follows: <br /> <br />1. The Davis Sterling Act establishes rules and regulations for residential condo owners <br />based upon “separate interests” (i.e. ownership rights), as opposed to renters who <br />only have a possessory interest. <br />2. Generally, residential condo unit owners demonstrate greater care for their property <br />and concerns about quality of life issues due to their investment in real estate.