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City of San Leandro
<br />Notes to Basic Financial Statements
<br />For the year ended June 30, 2013
<br />NOTE 17 — SUCCESSOR AGENCY ACTIVITIES (Continued)
<br />Non -depreciable Assets:
<br />Land
<br />Land held for resale
<br />Total Non -depreciable Assets
<br />Depreciable Assets:
<br />Buildings and Improvements
<br />Total Depreciable Assets
<br />Accumulated Depreciation:
<br />Buildings and Improvements
<br />Total Accumulated Depreciation
<br />Depreciable Assets, Net
<br />Total Private Purpose
<br />Trust Fund Activity
<br />Capital Assets, Net
<br />D. Property Held For Resale
<br />Balance
<br />June 30, 2012
<br />as restated Additions
<br />$2,949,885
<br />6,150,000
<br />9,099,885
<br />1,713,996
<br />1,713,996
<br />(270,122) ($34,282)
<br />(270,122) (34,282)
<br />1,443,874 (34,282)
<br />Balance
<br />Deletions June 30, 2013
<br />$2,949,885
<br />($3,980,000) 2,170,000
<br />(3,980,000) 5,119,885
<br />1,713,996
<br />1,713,996
<br />(304,404)
<br />(304,404)
<br />1,409,592
<br />$10,543,759 ($34,282) ($3,980,000) $6,529,477
<br />The Successor Agency assumed the property held for resale of the former Redevelopment Agency as of
<br />February 1, 2012. The former Redevelopment Agency had purchased parcels of land as part of its efforts
<br />to develop or redevelop blighted properties within the former Redevelopment areas. Such land parcels are
<br />accounted for at the lower of cost or net realizable value or agreed-upon sales price if a disposition
<br />agreement has been made with a developer. During the current fiscal year, the successor agency wrote
<br />down the value of the property held for resale to the amount of $2,170,000.
<br />0%
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