Maguire/Thomas Partners Fifth & Grand, Ltd., Maguire/Thomas Partners Grand Place Tower, Ltd., Tax Matters Partner - Page 22

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          the relief that CRA would grant pursuant to the Library Tower               
          and Grand Place Tower variations.                                           
               2.   Respondent’s Expert                                               
               Respondent’s expert is an attorney with extensive                      
          experience representing developers and landowners in                        
          constructing, financing, buying, and selling commercial and                 
          residential real estate, and in obtaining regulatory approval               
          for real estate development.  He formerly worked in the Office              
          of the City Attorney for the City and County of San Francisco.              
          His duties there included advising the San Francisco Zoning                 
          Administrator on the granting of variations and overseeing San              
          Francisco’s Transfer of Development Rights program and                      
          negotiations of approvals for developers of large developments.             
               Respondent’s expert stated that, if the Library Tower or               
          Grand Place Tower were to be replaced, the property owner would             
          be required to obtain a second variation in order to construct              
          another building of the same density on the property.  He opined            
          that the existence of the prior Library Tower and Grand Place               
          Tower variations, the MTP Designated Building Site, and the                 
          restrictive covenants covering the Library Square Tract parcels             
          would put the owner in a stronger position to obtain a second               
          variation.  He opined that there would be no certainty that a               
          second variation permitting a building of similar density would             








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