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<br />Table 5
<br />SUCCESSOR AGENCY TO THE
<br />REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO
<br />Assessment Appeals by Large Owners in the Project Area(1)
<br />
<br />Roll Year Owner Name Status
<br />County
<br />Valuation
<br />Applicant
<br />Opinion of
<br />Value
<br />Valuation
<br />After Appeal
<br />2017-18 Chill Build San Leandro LLC 1 Pending $51,434,909 $34,747,300 TBD
<br />2017-18 Peterson Tractor Co 1 Resolved 13,567,609 9,000,000 0
<br />2016-17 Peterson Tractor Co 2 Pending 26,603,280 18,000,000 TBD
<br />2015-16 Peterson Tractor Co 1 Resolved 13,101,859 9,000,000 0
<br />2014-15 Peterson Tractor Co 1 Resolved 12,845,217 10,000,000 0
<br />2014-15 Seal San Leandro LLC 1 Resolved 14,000,000 12,031,000 (1,300,000)
<br />2013-14 ACCO Engineered Systems Inc 2 Resolved 17,738,456 8,300,000 0
<br />2013-14 AMB-SGP CIF-I LLC 1 Resolved 51,030,600 40,000,000 0
<br />2013-14 Khachaturian Henry TR 1 Resolved 11,000,000 8,000,000 0
<br />2013-14 Peterson Tractor Co 2 Resolved 16,322,897 12,562,522 0
<br />
<br />(1) Data obtained from the San Mateo County Assessor as of February 16, 2018. Sources: San Mateo County Assessor; Urban Analytics.
<br />
<br />Projected Tax Revenues and Debt Service Coverage
<br />
<br />The Successor Agency has retained Urban Analytics, LLC, San Francisco, California to
<br />provide projections of taxable valuations on land in the Project Area and projected Tax
<br />Revenues available for debt service on the 2018 Bonds. Tax Revenues are projected over the
<br />duration of the 2018 Bonds, as shown in Table 6 below.
<br />
<br />The projection incorporates the Proposition 13 adjustment of 2% for real property from
<br />Fiscal Year 2017-18 forward. The projection does not take into consideration any changes in
<br />assessed valuation due to new construction, property sales, Proposition 8 reductions or other
<br />factors. The actual growth rate of assessed valuation may be less than the projected rate in the
<br />Project Area. Secured personal property and unsecured valuations are assumed to remain
<br />constant throughout.
<br />
<br />The Successor Agency believes that the assumptions used in Table 10 to the Fiscal
<br />Consultant’s Report and its footnotes, upon which the projections in Table 6 below are based,
<br />are reasonable; however, some assumptions may not materialize and unanticipated events and
<br />circumstances may occur. Therefore, the actual Tax Revenues received during the forecast
<br />period may vary from the projections and the variations may be material.
<br />
<br />Table 7 sets forth projected debt service coverage on the 2018 Bonds based on the
<br />projection of Tax Revenues set forth in Table 6.
<br />
<br />149
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