- 31 -
We also find that MTP and Library Square obtained under their
development rights pursuant to phases I and II of the OPA an
increase of 490,222 square feet (i.e., 1,300,000 minus 809,778)
in buildable net floor area for the Library Tower building
attributable to the Library Tower variation.
Similarly, we find that MTP and its successor Fifth & Grand
obtained under their development rights pursuant to phase III of
the OPA an increase of 747,488 square feet in buildable net
floor area for the Grand Place Tower parcel attributable to the
zoning change. We also find that MTP and Fifth & Grand obtained
under their development rights pursuant to phase III of the OPA,
an increase of 452,512 square feet (i.e., 1,200,000 minus
747,488) in buildable net floor area for the Grand Place Tower
building attributable to the Grand Place Tower variation.
We further find as to the $18,942,649 that MTP paid to
obtain those development rights pursuant to phases I and II of
the OPA that: (1) $11,799,493 was incurred to obtain the zoning
change,9 and (2) the remaining $7,143,156 was incurred to obtain
the Library Tower variation.10 Similarly, we find as to the
$17,700,000 that MTP paid to obtain those development rights
pursuant to phase III of the OPA that: (1) $11,025,448 was
9 $18,942,649 x 809,778 sq. ft. = $11,799,493.
1,300,000 sq. ft.
10 $18,942,649 x 490,222 sq. ft. = $7,143,156.
1,300,000 sq. ft.
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