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SITE DESCRIPTION (Continued) <br />HIGHEST AND BEST USE: The reader is referred to the first portion of <br />the Valuation Analysis Section for a detailed <br />discussion regarding the highest and best <br />use of the subject property. <br />EXISTING IMPROVEMENT <br />COMMENT: There are no building or other on-site <br />improvements located within the boundaries <br />of the subject property which contribute <br />significant monetary value in a highest and <br />best use context. <br />DEVELOPMENT PLAN <br />COMMENT: The property owners are nearing the end of <br />the entitlement process for a 7 -unit <br />townhouse development on the subject <br />property. The proposed unit mix includes <br />five 2-bedroom/3-bathroom dwelling units <br />and two 3-bedroom/3-bathroom units <br />ranging in size from 883 to 1,296 square feet <br />of living area. The development will consist <br />of a 6,987 square foot building footprint with <br />a 53% lot coverage ratio and a density of <br />one unit per 3,800 square feet of land area. <br />Each unit will have a two -car garage and <br />private balcony. There will be two on-site <br />guest parking spaces. <br />ASSESSOR'S PARCEL NO.: <br />ASSESSED VALUATIONS: <br />The owner indicated that entitlement costs to <br />date, including interest expenses, total <br />approximately $220,000. Final building <br />permits are scheduled to be issued in <br />November, 2017. <br />398-150-02 and 398-152-16 <br />Land: $590,000. <br />Improvements: $ 00. <br />LIDGARDANDASSOCIATES <br />APPRAISERS -CONSULTANTS <br />5 <br />20D-32 <br />