Excerpt:

Willdan Financial Services (“Willdan”) has prepared a preliminary analysis of the revenue
that could be generated from supplemental revenue at Alameda Point. The supplemental
revenue will be a special tax, assessment, or other means that will impose an additional
financial burden on property at Alameda Point, over and above the approximately 1.0 percent
ad valorem tax paid by all property in California. For the purposes of this initial analysis
Willdan has assumed that residential development would have a total tax burden of 1.8
percent and commercial development would have a total tax burden of 1.6 percent. Table 1
details the current assumptions about the value of the proposed development at Alameda
Point.