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<br />TABLE 4
<br />SUCCESSOR AGENCY TO THE
<br />REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO
<br />Plaza Project Area
<br />Ten Largest Taxable Property Owners
<br />Fiscal Year 2014-15
<br />Property Owner
<br />Secured and
<br />Utility Unsecured Total
<br />% Of Total
<br />Valuation
<br />Principal
<br />Use
<br />Creekside Plaza Partners LLC* $43,594,448 - $ 43,594,448 12.00% Office
<br />World Savings & Loan Association 30,284,070 - 30,284,070 8.33 Office
<br />Heritage Gateway LP & Heritage San
<br />Leandro LP 23,505,516 - 23,505,516 6.47 Apartments
<br />Price Company 19,839,743 - 19,839,743 5.46 Retail
<br />Sara Kennedy LLC 11,150,000 - 11,150,000 3.07 Office
<br />Regency Realty Corp & Regency Centers LP 8,919,836 - 8,919,836 2.45 Retail
<br />Safeway 8,561,929 - 8,561,929 2.36 Supermarket
<br />Marymount Villa LLC 8,213,969 - 8,213,969 2.26 Nursing home
<br />Longs Drug Stores Inc* 7,770,698 - 7,770,698 2.14 Supermarket
<br />Creekside Partners 6,991,566 - 6,991,566 1.92 Parking lots
<br />Total, Top Ten: 168,831,775 - 168,831,775 46.46
<br />
<br />Total Fiscal Year 2014-15 AV: $363,391,952(1)
<br />
<br />Total Fiscal Year 2014-15 Incremental AV: $340,123,058
<br />
<br />(1) Excludes homeowner exemptions.
<br />* Property owner had pending appeals with respect one or more fiscal years as of June 30, 2014.
<br />Source: County Assessor; State Board of Equalization
<br />
<br />
<br />West San Leandro/MacArthur Boulevard Project Area. The following table lists the
<br />10 largest taxable property owners within the West San Leandro/MacArthur Boulevard Project
<br />Area for fiscal year 2014-15. Based on fiscal year 2014-15 locally assessed taxable valuations,
<br />the top 10 taxable property owners in West San Leandro/MacArthur Boulevard Project Area
<br />represent approximately 27.31% of the total West San Leandro/MacArthur Boulevard Project
<br />Area taxable value of $1,186,918,238 and 59.1% of the fiscal year 2014-15 incremental value of
<br />$548,717,958.
<br />
<br />The Fiscal Consultant reports that AMB US Logistics Fund LP (and certain of its
<br />affiliates) and BRCP San Leandro Industrial LLC had appeals of assessed values pending as of
<br />June 30, 2014 relating to fiscal years 2012-13 and 2013-14 with respect to property with an
<br />assessed value totaling approximately $150 million. According to the Fiscal Consultant, the
<br />opinion of value of such owners totaled approximately $100 million; representing a maximum
<br />potential reduction of approximately $50 million. However, as discussed below in “-Appeals of
<br />Assessed Values; Proposition 8,” the Fiscal Consultant further reports that historically over the
<br />past seven years, appeals of assessed values have resulted in a reduction of 7%. Based on the
<br />Fiscal Consultants review of reductions in assessed values over the past seven years, the
<br />Successor Agency anticipates that the appeals of AMB US Logistics Fund LP and BRCP San
<br />Leandro Industrial LLC will result in a loss of assessed value within the West San
<br />Leandro/MacArthur Project Area of approximately $10.5 million in fiscal year 2014-15 or a loss
<br />of tax increment revenue of approximately $105,000 in such fiscal year. The Fiscal Consultant's
<br />projections of tax increment available to pay debt service on the 2014 Bonds do not take such
<br />potential reductions into account.
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