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Appraised Value &Assessed Value-The parcel does not have an assessed value since it is exempt from property taxes due to public ownership.No appraisal information exists.The value is minimal due to the property's dedication for use as a public parking lot under public ownership. Rental Revenues-The City charges an hourly fee for parking to discourage all day parking and to make the spaces available for shorter-term library visits.The amount of average gross annual revenues ($66,350) is less than the average annual costs to maintain the parcel and the parking charge equipment,based on a three-year analysis of annual maintenance costs.Expenses have historically exceeded revenue generated by this parking lot.For three past three years,on average there has been a revenue shortfall of over$10,000 per year. �.�� 4��°�� Background-This property consists of two parcels: 1. Parcel 053-182-030 -Lathrop Street,Elm Street and the Redwood Creek channel bound this 14,351 square foot triangular shaped parcel.The creek channel divides the parcel,a portion on the south side of the creek is paved and used for temporary parking by an adjacent car dealership pursuant to a non-exclusive,revocable license; and the portion north of the creek is paved with decomposed granite and is used by a nearby apartment building for public open space.The car dealership and apartments have month-to-month non-exclusive Revocable Permit Agreements with the City to temporarily use the parcel for parking,and for weekend public open space. 2. Parcel 053-147-040 -This 7,438 square foot parcel on Lathrop Street near Elm Street is used for a culvert that carries Redwood Creek.Almost the entire parcel is affected by the 30-foot wide culvert easement(see Figure#5 Parcel Map). Acquisition Purpose-The parcels were acquired for construction,operation and maintenance of the creek channel by the flood control.The acquisition values are unknown.The parcels have been retained for on-going maintenance access. Acquisition Value -The acquisition value/cost of the parcels is unknown. Estimated Value - No assessor's value information exists for these parcels,as they are publically owned. No appraisal information exists. The value is minimal due to the planned long term public ownership and use of the property. Rental Revenues-Revenues are received for one of the two parcels (053-182-030).The portion of the parcel south of the creek,being used by the car dealership for temporary parking pursuant to a revocable license,is rented on a month-to-month basis for$150 per month,or$1,800 annually.The portion north of the creek is being used temporarily for weekend public open space by the apartment complex.Compensation for the use consists of the apartment owner's obligation to install and maintain landscape improvements. Potential for Transit Oriented Development - None.The parcels are to be maintained in public use to accommodate the creek culvert;therefore they are not developable. 5-4-16 6