Laserfiche WebLink
<br />34 <br />THE PROJECT AREAS <br /> <br />Project Areas in the Aggregate <br /> <br />Although this Official Statement includes separate information about each of the Project <br />Areas because of their unique characteristics and their independent redevelopment plan limits, <br />the Tax Revenues pledged as security for the 2014 Bonds consists of property tax revenues <br />allocated to the Successor Agency from both of the Project Areas. Consequently, this Official <br />Statement also shows aggregate information about the Project Areas. In order to understand <br />the nature of the aggregate Project Areas, investors should be aware that, for fiscal year 2014- <br />15, (i) the assessed secured value of the Plaza Project Area was approximately 23% of the <br />aggregate assessed secured value of the Project Areas and approximately 40% of the <br />aggregate incremental assessed secured value, and (ii) the assessed secured value of the <br />West San Leandro/MacArthur Boulevard Project Area was approximately 77% of the aggregate <br />assessed secured value of the Project Areas and 60% of the aggregate incremental assessed <br />secured value. <br /> <br />Land Use. The following table summarizes the current land use in the Project Areas in <br />the aggregate, by the number of parcels and by assessed secured value for fiscal year 2014-15. <br />As shown, the majority of land within the Project Areas (approximately 67.8% in terms of <br />assessed secured valuation) is currently used for industrial purposes. The assessed values <br />shown do not include non-homeowner exemptions. <br /> <br />These land use categories are based on land use designations placed on individual <br />parcels by the County Assessor’s Office and may not, in every case, coincide with the actual <br />uses found on the parcels. <br /> <br />TABLE 1 <br />SUCCESSOR AGENCY TO THE <br />REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO <br />Project Areas in the Aggregate <br />Land Use by Net Taxable Secured Assessed Value <br />Fiscal Year 2014-15 <br /> <br />Category <br />Secured Assessed <br />Valuation (1) <br />% of Total <br />Secured <br />Valuation <br />Number of <br />Parcels <br />% of Total <br />Number of <br />Parcels <br />Commercial $303,179,976 22.5% 191 17.3% <br />Industrial 915,477,291 67.8 327 29.6 <br />Single-Family <br />Residential 12,024,152 0.9 36 3.3 <br />Condominiums 49,210,853 3.6 252 22.8 <br />Other Residential 43,388,093 3.2 45 4.1 <br />Vacant 24,134,637 1.8 55 5.0 <br />Other 3,035,530 0.2 197 17.9 <br />Total 1,350,450,532 100.0 1,103 100.0 <br /> <br />(1) Net of Homeowner Exemptions. These exemptions are reimbursed by the County Auditor-Controller prior to disbursement of <br />tax increment to the Redevelopment Property Tax Trust Fund. <br />Source: County Assessor; Urban Analytics, LLC. <br />