By Matt Artz
Tuesday, July 13th, 2010 at 8:14 pm in Uncategorized.
The City Council is discussing plans to turn the former NUMMI site and much of the surrounding land into a Redevelopment Area. Two interesting tidbits.
1) Toyota is supposed to put the vacant northern and southern parcels on the market in “the next two days.”
2) The NUMMI site is assessed at about $1 billion, which equates to the city getting $1.5 million a year in property taxes. But about half of that valuation is equipment and machinery, some of which Toyota has already shipped off to other plants. And Tesla bought the plant for just $42 million. Put those together, and Fremont could be getting much less in property taxes in a couple of years.