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Receive and File Washington Square Park Feasibility Study <br />September 16, 2025 <br />Page 2 <br />Parcel APN <br />Status <br />Owner <br />Size <br />Zoning <br />405-321-12 <br />Single Family <br />Residence <br />Alexander Dantes LLC <br />0.31 acres <br />R-1 <br />405-321-08 <br />Vacant <br />Alexander Dantes LLC <br />0.38 acres <br />R-1 <br />405-321-09 <br />Vacant <br />Alexander Dantes LLC <br />0.22 acres <br />R-1 <br />405-321-14 <br />Vacant <br />Jessup Ann Hayden Trust <br />0.42 acres <br />R-1 <br />The surrounding land uses to the south, east, and west are single-family homes. The <br />properties to the north, which front 17t" Street, include a church and a professional <br />office park. <br />Feasibility Study <br />The study, based on a February 2024 appraisal and analysis of City planning <br />documents, examines three development options with estimated costs ranging from <br />$5.9 million to $10.4 million (inclusive of property acquisition). <br />The options vary in size from 1 acre to 1.74 acres and differ in proposed amenities. The <br />estimated costs include the following key assumptions: <br />• Willing seller(s), meaning no eminent domain process is needed. <br />• Ease of construction on vacant parcels. <br />• There are no access concerns and no traffic impacts to address when <br />constructing a neighborhood park serving residents within a 5-10 minute walk. <br />• Storm water management to comply with the National Pollutant Discharge <br />Elimination System (NPDES) has been included in the development costs. <br />• The project is categorically exempt from a CEQA environmental review. <br />• The project has minimal permitting requirements. <br />• There are suitable soil conditions, with no need for remediation. <br />Below is a summary of the three options evaluated based on the City's appraisal, not <br />the offered selling price. <br />Options <br />Description <br />Property <br />Passive Park <br />Total <br />Acquisition <br />Development <br />Estimated <br />Costs <br />Costs <br />Costs <br />Option <br />3 Vacant Alexander <br />$3,600,000 <br />$2,300,000 <br />$5,900,000 <br />#1 <br />Dantes LLC Parcels <br />1.01 acres <br />Option <br />All 4 Alexander <br />$4,900,000 <br />$3,000,000 <br />$7,900,000 <br />#2 <br />Dantes LLC Parcels <br />1.32 acres <br />Option <br />All 5 Parcels (1.74 <br />$6,4000,000 <br />$4,000,000 <br />$10,400,000 <br />#3 <br />acres) <br />