Value has been added into the land. Now it needs to get into the grape.

We think this report raised important issues about how public land needs to be protected.

Between a quarter and a third of Los Angeles's land area is now monopolized by the automobile and its needs-by freeways, highways, garages, gas stations, car lots, parking lots. And all of it is blanketed with anonymity and foul air.

Council needs to keep looking and keep encouraging as developers come forth. There's not an awful lot of land left, but that's going to be what we have to do in the future.

When transferring property by way of sale the land owner needs to state the price for which he is selling. If the land is not being sold, but is being given as a gift then the value of the property must also be disclosed.

Capitalization rate is merely one indicator of real estate value. Each property needs to be evaluated independently based on current and future income, market and submarket dynamics, physical condition and the terms of any indebtedness secured by the property. These capitalization rates and values may not be representative of future capitalization rates and values that may be achieved on the Company's remaining properties under the liquidation plan.