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Terry Larson, American Appraisal Associates, referred to the subject report <br />from his Company and used the following slides to illustrate his remarks: 1) <br />Major Area Map of Redwood Shores, South Shores, Redwood Peninsula and Bair <br />Island; 2) Redwood Shores, the developed area, with overlays to indicate <br />development of single family units, townhouse units and condominium units; and <br />3) an information page relating to Heron Court Cooperative showing use of <br />Income Approach to Value, since the usual comparable sales method of appraisal <br />is not applicable. <br />In response to question, Mr. Larson said that the Parkwood 101 site is uneven <br />terrain and land fill and appeared to be less available for immediate <br />development than other undeveloped sites, noting that plans for an area are <br />not given a great deal of weight, since plans are often not implemented. <br />City Attorney Schricker noted also that activity as of the March 1, 1984 lien <br />date is what has been reported. <br />Mr. Tasseff stated that the tax rate is lower for the third consecutive year <br />and that even the few. property owners with as much as a 5% increase in <br />valuation will not pay an increased amount. He said that no change exceeds <br />5 %, but generally there is no change. <br />City Manager Smith pointed out that the reduced tax rate reflects predictions <br />for GID No. 1 -64. <br />M /S: Chandler /Mosher to declare the assessment roll for GID No. 1 -64 <br />equalized as submitted. <br />MINUTE ORDER NO. 84 -128 BE <br />Carried unanimously by voice vote. <br />ADJOURNMENT <br />There being no further business, the meeting of the Board of Equalization was <br />adjourned at 7:50 p.m. <br />JACQUELINE C. HILDEBRAND <br />City Clerk <br />Board of Equalization <br />GID 1 -64 <br />7/23/84 <br />Page 2 <br />MINUTE BOOK NO. 45 <br />Page No. 95 <br />