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<br /> . . I - - <br /> REPORT: Director of Finance Ponty, July 15, 1996 <br />L- Manager of Financial Services Somers presented the staff report and described <br /> procedures. <br /> 4) Public comment; <br /> John Murphy, 421 Luff Lane, Redwood City, asked the Board to take note ofthe basis <br /> for the GID 1-64 bonds, stating the "reclamation is based on land only, and the <br /> facilities is based on land and improvements." Mr. Murphy talked about the ratio <br /> between land and improvements over the last three decades. He said it was "important <br /> that the land carry its full percentage of the assessed valuation because of unimproved <br /> lots." Mr. Murphy also discussed the "proportion between residential and commercial, <br /> the commercial being appraised at the same approximate valuation." <br /> In response to Mr. Murphy's comments, Charles Warren, ASA, appraiser and <br /> consultant for the City, said "the proportion of land versus improvements on an <br /> improved property is.... certainly open to interpretation." Mr. Warren said there is no <br /> fixed rule as to what the percentage must be. He said there is better information <br /> available on what commercial land is worth and establishing value can be done with <br /> more certainty. Mr. Warren said residential and commercial percentages are annotated <br /> in the submitted report, and said he was as confident as he can be that "we've done <br /> market value on the improved properties." <br />'-- <br /> 5) Board of Directors determination of assessment and consideration of applications; <br /> 6) Close the public hearing; <br /> MIS: RUSKINILA BERGE TO CLOSE THE PUBLIC HEARING. <br /> CARRIED BY UNANIMOUS VOICE VOTE AND MEETING ADJOURNED AT 7:17 P.M. <br /> 7) MIS: CLAIRE/RUSKIN TO DECLARE THE ASSESSMENT ROLL FOR GID NO. 1-64 <br /> EQUALIZED AS SUBMITTED (OR AS CORRECTED IF CHANGES MADE), NOTING <br /> THAT THE DEADLINE FOR FILING APPEALS IS SEPTEMBER 15, 1996; <br /> CARRIED BY UNANIMOUS VOICE VOTE <br /> MINUTE ORDER NO. 96-170EQ <br /> 5. ADJOURNMENT <br /> MIS: RUSKINILA BERGE TO ADJOURN THE MEETING <br /> CARRIED BY UNANIMOUS VOICE VOTE AND MEETING ADJOURNED AT 7:29 P.M. <br /> B+!1~~ <br />- MINUTE BOOK NO. 54 City Clerk <br /> p a ~::__::~_:__?_?_~__m______------______m_______m_______m--------_m--___m---______m_-_----_m__---------'---------__m-_____----- <br /> BOARD OF EQUALIZATION JULY 15, 1996 <br /> MINUTES PAGE 2 <br />