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THE CITY OF <br /> _ <br /> LEASANTON© <br /> MEMORANDUM <br /> Date: December 15, 2020 <br /> To: Mayor and City Council /� <br /> From: Nelson Fialho, City Manager 8v1»r /14C- <br /> Brian <br /> GBrian Dolan, Assistant City Manager BJ) <br /> Ellen Clark, Director of Community Development <br /> Subject: Public Storage P19-0128/P19-0129: Corrections to Residual Land Value Calculation <br /> This memorandum attaches an updated summary to the calculation of Residual Land Value previously <br /> distributed to the City Council, correcting and updating some of the information in the spreadsheet. <br /> Corrections made include: <br /> • Correcting an error regarding square footage of the project associated with the additional FAR, <br /> to 161,942 square feet. <br /> • Updating the spreadsheet line item regarding Permits and Fees,which was based on an older fee <br /> schedule that had been previously provided by the applicant. The applicant has since provided <br /> an updated detailed estimate based on the City's current fees and charges. <br /> • Correcting a spreadsheet calculation error,that did not include the Basic SiteWork/Demo line <br /> item, and thus inflated the residual land value. <br /> The revised residual land value estimate, including these revisions, is $338,459. <br />