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Case Study 2: <br />100,000 square foot office building (old Security Pacific Bank building at SE corner of <br />Marengo and Colorado, Union Bank building at Green Street and Lake Avenue, Chamber of <br />Commerce building in Old Pasadena.) <br />This 100,000 square foot office building would be a three-story building and subterranean <br />parking for only 2.25 spaces per 1,000 square feet of leasable area. A 100,000 square foot office <br />building would be valued at approximately $32,500,000 based on currently understood <br />valuations. <br />For a 100,000 square foot building, another modest sized office building, built today, property <br />tax generated would be approximately $68,000 per year for the City of Pasadena, $127,000 per <br />year for the Pasadena Unified School District, $98,000 for L.A. County and $41,600 for <br />Pasadena City College. Locally, that 100,000 square foot office building generates $368,000 for <br />local governments and schools. <br />Ongoing Revenues, Pasadena Area <br />City Bus. UUT PUSD PCC LA <br />Prop. License County <br />Tax <br />17 <br />■ Pasadena Area <br />Ongoing Income in <br />gt000s - toa,000 <br />Square Feet of New <br />Construction <br />