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Table 3 <br />Project Assessed Value <br />Steelwave LLC Annexation FIA; EPS #241085 <br />Land Use <br />Total AV at <br />Buildout (2024$) <br />Commercial Uses <br />Commercial/Retail 16,000 Square Feet per Sq.Ft.$0 <br />Parcel H Industrial 299,655 Square Feet $264 per Sq.Ft.$79,200,000 <br />Commercial Subtotal $79,200,000 <br />Residential Uses <br />Arroyo Lago <br />Market Rate Units 189 DUs $1,850,000 per Unit $349,650,000 <br />Below Market Rate Units2 49 DUs $0 <br />Arroyo Lago Subtotal 238 DUs $349,650,000 <br />East Lakes Project <br />Independent Living <br />Market Rate Units 303 DUs $1,450,000 per Unit $439,350,000 <br />Below Market Rate Units3 54 DUs $695,682 per Unit $37,566,821 <br />Assisted Living <br />Market Rate Units4 75 DUs $720,000 per Unit $54,000,000 <br />Below Market Rate Units3,5 13 DUs $0 <br />East Lakes Subtotal 445 DUs $476,916,821 <br />Total Project Assessed Valuation $905,766,821 <br />(1) Preliminary Assessed Value Factors provided by Steelwave LLC. <br />Program Assumptions <br />Assessed Value <br />Factor1 <br />Sources: HCD 2024 Income Limits for Alameda County; Steelwave LLC; Economic & Planning Systems, Inc. <br />(2) The below market rate units at Arroyo Lago are assumed to be attached ADUs, and the assessed value is assumed to be part of market <br />rate unit value. <br />Eligible for Tax Exemption <br />(5) The rents for the affordable assisted living units are anticipated to be set at 50-60% AMI, therefore the units are eligible for exemption. <br />(3) Below market rate values are based on income limits included in the City of Pleasanton Inclusionary Housing Ordinance. <br />(4) Valuation of the market rate assisted living units is estimated using professional assumptions utilized for similar product types. <br />Page 231 of 749