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<br />TABLE 5
<br />SUCCESSOR AGENCY TO THE
<br />REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO
<br />West San Leandro/MacArthur Boulevard Project Area
<br />Ten Largest Taxable Property Owners
<br />Fiscal Year 2014-15
<br />
<br />Property Owner
<br />Secured and
<br />Utility Unsecured Total
<br />% Of Total
<br />Valuation
<br />Principal
<br /> Use
<br />AMB Property Corporation $63,237,699 - $63,237,699 5.33% Warehouse
<br />AMB US Logistics Fund LP* 62,934,944 - 62,934,944 5.30 Warehouse
<br />Safeway 46,012,718 - 46,012,718 3.88 Industrial
<br />BRCP San Leandro Industrial LLC* 29,413,024 - 29,413,024 2.48 Industrial
<br />KTR Bay East IV LLC 28,150,000 - 28,150,000 2.37 Industrial
<br />Doolittle Williams LLC 20,894,733 - 20,894,733 1.76 Industrial
<br />LBA CPT Industrial Co V A LLC 20,090,800 - 20,090,800 1.69 Warehouse
<br />Olson Properties LP 19,605,684 - 19,605,684 1.65 Industrial
<br />Georgia Pacific Gypsum LLC 17,036,470 - 17,036,470 1.44 Industrial
<br />Fairway San Leandro LLC 16,731,565 - 16,731,565 1.41 Warehouse
<br />Total, Top Ten: 324,107,637 - 324,107,637 27.31
<br />
<br />Total Fiscal Year 2014-15 AV: $1,186,918,238
<br />
<br />Total Fiscal Year 2014-15 Incremental AV: $548,727,958
<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 />Tax Rates
<br />
<br />Tax rates will vary from area to area within the State, as well as within a community and
<br />a redevelopment project area. The tax rate for any particular parcel is based upon the
<br />jurisdictions levying the tax rate for the area where the parcel is located. The tax rate consists
<br />of the general levy rate of $1.00 per $100 of taxable value and any over-ride tax rate. The over-
<br />ride rate is that portion of the tax rate that exceeds the general levy tax rate and is levied to pay
<br />voter approved indebtedness or contractual obligations that existed prior to the enactment of
<br />Proposition XIII.
<br />
<br />Section 34183(a)(1) of the Dissolution Act requires the County Auditor-Controller to
<br />allocate all revenues attributable to tax rates levied to make annual repayments of the principal
<br />of and interest on any bonded indebtedness for the acquisition or improvement of real property
<br />to the taxing entity levying the tax rate. The Fiscal Consultant reports that Section 34183(a)(1)
<br />has been interpreted by the County to include all of the revenues resulting from over-ride tax
<br />rates that were previously allocated to redevelopment agencies based on the County’s
<br />determination that these tax rates are being levied for repayment of indebtedness for acquisition
<br />or improvement of real property. As a result, the tax increment revenues being deposited into
<br />the Redevelopment Property Tax Trust Fund include only revenues derived from the general
<br />1% levy and includes no revenues derived from over-ride tax rates that had been included in tax
<br />increment revenues prior to the dissolution of redevelopment agencies. The Fiscal Consultant's
<br />projections of tax increment available to pay debt service on the 2014 Bonds are based only on
<br />revenue derived from the general levy tax rate.
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