Item 17 - Bristol Street and Memory Lane Intersection Improvements

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Value of Remainder in the After Condition Before Considering Benefits Land Area % Property Indicated Property (SF) $/SF Rights Value Larger Parcel in After Condition 18,194 $80.00 100% $1,455,520 Severance Damages California Eminent Domain Law defines Damage to the remainder as the damage, if any, caused by either or both of the following: a) The severance of the remainder from the part acquired, b) The construction and use of the project for which the property is acquired in the manner proposed by the plaintiff whether or not the damage is caused by a portion of the project located on the part acquired. Damage considerations include issues related to air, light, and view obstruction, a change in utility due to shape, topography, access or other physical impairment, or a reduction in site amenities enjoyed in the "before" condition. In the after condition, the use and utility of the larger parcel will be unchanged. No damages are shown, as follows: Severance Damages Value of the Remainder as Part of the Whole - Land Only $1,455,520 Value of the Remainder in the After Condition - Land Only $1,455,520 Severance Damages $0 Value of the Remainder in the After Condition After Considering Benefits Briefly stated, benefits are defined as any value enhancement resulting from the project. As cited in Los Angeles County Metropolitan Transit Agency v. Continental Development Corporation, 97 Daily Journal D.A.R. 11021, "...all reasonably certain, non -speculative benefits resulting from the project may offset against severance damages..." Although the community in general may benefit from the proposed Project, I have found no evidence of benefits accruing to the Remainder in the "After" condition. The construction of the project in the manner proposed may bring benefits to the area in the form of traffic allowance and safety, and, hence, value enhancement; however, at this time, such benefits are not quantifiable. The value of the remainder in the after condition after considering benefits is not changed from the value of the remainder in the after condition before considering benefits; thus, no benefits are shown, as follows: Benefits Remainder in the After Condition After Considering Benefits - Land Only $1,455,520 Remainder in the After Condition Before Considering Benefits - Land Only $1,455,520 Benefits $0 Fair Market Value of Temporary Construction Easement A temporary construction easement is proposed to allow for the construction of the project as proposed. A review of the proposed agreement to assess the degree of encumbrance on the property was completed to ascertain which rights the fee owner retains. The impact on value may be a function of the Page 5