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A. Assignment Determine the fair reuse value for the site being conveyed by the Agency to the Developer, given the specific development agreed to in the proposed disposition and development agreement (DDA), which requires the Developer to use the subject site in downtown San Leandro for the development, construction and management of a local resident -serving retail center with high quality site amenities. The site to be conveyed is comprised of the former San Leandro Corporation Yard site, a parcel located at 960 San Leandro Boulevard totaling 303,000 sq.ft. (6.39 acres) in net usable land area. a Project Description The proposed development (Project) will consist of a local resident -serving shopping retail containing 80,500 sq.ft. of net rentable space. The center will contain a 36,000 sq.ft. upscale grocery store as the main anchor tenant, a drugstore, a 4,500 sq.ft. fine dining restaurant, other small food establishments, a video store, and smaller retail shops. The architectural features will be of a higher quality than would typically be found in a neighborhood shopping center. The Developer is also obligated to construct high quality site amenities, including a prominent landscape feature at the corner of San Leandro Boulevard and Davis Street, extensive parking lot landscaping, a creekside plaza and a creekwalk The project must conform to the provisions and property development standards contained in the proposed Agreement. C Site/Land Area The site of this reuse appraisal is comprised of real property ("Property") owned by the Agency, to be conveyed to the Developer. The Property comprising the site is identified as follows: The former San Leandro Corporation Yard site at 960 San Leandro Boulevard, located on the northeast corner of San Leandro Boulevard and Davis Street in San Leandro. The site is bounded on the north by the San Leandro Creek. The gross land area is 338,339 sq.ft. (7.767 acres). However, the net usable land area is 303,000 sq.ft. (6.39 acres). D. Location The Project is located in the San Leandro Plaza 2 Redevelopment Project Area The overall site enjoys good visibility from both San Leandro Boulevard and Davis Street. Access to the site is good, as both San Leandro Boulevard and Davis Street are major thoroughfares in San Leandro. In addition, the San Leandro BART station is located on the southwest corner of the same interchange as the subject site, at the southwest corner of San Leandro Boulevard and Davis Street. 1910010001-=.CIW - i. 7i T KEYSER MARSTON ASSOCIATES I N C. Page 1