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<br />36 <br />Plaza 2 Project Area. The Project Area is largely comprised of commercial and residential <br />properties in the downtown area of the City. The assessed value of the Plaza Project Area for <br />fiscal year 2014-15 is approximately $364,525,952 million and the base year valuation is <br />$24,402,894. <br /> <br />The West San Leandro/MacArthur Boulevard Project Area is comprised of two <br />geographic areas. The western portion, internally known as the “West San Leandro Area,” is <br />located in the City’s industrial core, which is entirely west of Interstate 880 and comprises <br />approximately 1,014 acres. The other, smaller, portion is largely commercial and is known <br />internally as the “MacArthur Boulevard Area”. This portion abuts a portion of Interstate 580 in <br />the northern section of the City and comprises approximately 16 acres. Shortly after formation <br />of the West San Leandro/MacArthur Boulevard Project Area in 1999, the Former Agency agreed <br />to remove seventeen parcels from the initial West San Leandro/MacArthur Boulevard Project <br />Area in response to concerns raised by the County. The Former Agency and the County signed <br />a Memorandum of Understanding dated November 30, 1999, which identified the seventeen <br />parcels to be removed. Pursuant thereto, the Former Agency amended the West San <br />Leandro/MacArthur Boulevard Project Area Redevelopment Plan and removed the parcels <br />pursuant to Ordinance 2000-014 adopted June 26, 2000. The County Auditor-Controller <br />subsequently removed the parcels from both the base year assessed valuation and the annual <br />tax increment. The assessed value of the West San Leandro/MacArthur Boulevard Project Area <br />for fiscal year 2014-15 is approximately $1,187,023,238 million and the base year valuation is <br />$638,295,280. <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 /> <br />TABLE 3a <br />SUCCESSOR AGENCY TO THE <br />REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO <br />Plaza Project Area <br />Land Use by Net Taxable Secured Assessed Value <br />Fiscal Year 2014-15 <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 $225,901,491 68.1% 93 18.8% <br />Industrial 8,090,760 2.4 13 2.6 <br />Single-Family Residential 3,976,407 1.2 13 2.6 <br />Condominiums 49,210,853 14.8 252 51.0 <br />Other Residential 35,679,501 10.8 27 5.5 <br />Vacant 7,897,426 2.4 13 2.6 <br />Other 943,631 0.3 83 16.8 <br />Total 331,700,069 100.0 494 100.0 <br /> <br />(1) Net of Homeowner Exemptions. These exemptions are restored 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 />