El Taylor News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Rehabilitation and Maintenance Plans are included in the packet. Despite the lengthy process the owners have been ideal and working with the Planning Department to meticulously restore the upon property. The Planning Department recommends approval of this contract in conformance with the unanimous recommendation of approval this year. The application rehabilitation and Maintenance Program is consistent with the requirements of the mills act. I am available to answer any questions about the application and the program and a representative from the Assessors Office can answer questions about the...

Okay. Much appreciated. We dont have a budget Analyst Report so we will move to Public Comment. No Public Comment so its closed. Colleagues, can i have a motion to approve these items . Mr. Chairman i believe there is a need to amend the title. Okay. Actually chairman farrell can i ask a question . Please supervisor mar. I know in my conversations with the city administrator there have been discussions whether this project move forward like a private Public Partnership like dial drive project and other approaches and i am wonderings if you could talk about that. [inaudible] construction projec...

Should be closer to 1. 1 million instead of 1 million and impact to the city of 6,000 versus 7,000. I did note that we consulted with the City Attorney and noted this lower estimate is not substantive and would not require a continuance and now i would like to turn it over to michael who will address the General Mills act process and for the corrected estimate rational. Thank you trisha and good afternoon chair farrell and supervisors. I am here to speak on the general process the Assessors Office goes through evaluating a mills act property. I can speak on the specific evaluation for buchanan...

Evaluation used 4 for the entire property. We were thats incorrect because part of the property is Owner Occupied so we applied the 4 risk rate to the Owner Occupied portion of the rate and 2 for the non Owner Occupied portion of the property. This resulted in evaluation being adjusted to. 29 95. And the second handout is the revised summary page. The three prong test as you can see and the current assessed value is listed here and result in taxes of approximately 19,000. Based upon the three prong test the lower of the values, the restricted value, which is 1. 1 million, and the factory facta...

The buchanan street. From that market rent we subtracted and allowable vacancy and collection loss. We subtracted some operating expenses that should be allowed for the property to approve at the net income. The change was made in the risk factor. For over occupied buildings its 4 . For all other property types the risk factor is 2 . Our initial evaluation used 4 for the entire property. We were thats incorrect because part of the property is Owner Occupied so we applied the 4 risk rate to the Owner Occupied portion of the rate and 2 for the non Owner Occupied portion of the property. This res...