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DISCUSSION RE PURCHASE OF TREATMENT PLANT SITE - S.R. 60 <br />Attorney Brandenburg reported that we have two option <br />contracts - one for the Monroe property and one for the Catron <br />property, and these options expires on February 6th. Attorney <br />Garris is here representing the Monroe property and Mr. Nelson <br />representing the Catron property; there have been two appraisals <br />of each. The County Attorney continued that the timing problem <br />is that County does not want to enter into a firm purchase and <br />then discover that either the financing or the permitting for the <br />plant falls through; so, special conditions been written into the <br />purchase contract. He noted that the Catron contract is a little <br />different because we were able to contact those people this week <br />and revise it slightly whereas the others have been out of the <br />country. <br />Attorney Brandenburg explained that the Catron property <br />consists of 78.82 acres and contains a grove. There is some <br />frost damage to the fruit, but it doesn't appear there is serious <br />damage to the trees themselves. The contract purchase price is <br />$709,380. The appraisal by Armfield-Houck came out at $650,000 <br />done on a market data approach and $670,000 using the income <br />approach, or $39,380 and $59,380 under the purchase price <br />respectively. The appraisal done by Richard Wagner came in at <br />$675,000, or $34,380 under the purchase price. The special <br />conditions added indicate the contract is subject to the county <br />proceeding with the SR 60 wastewater project and obtaining <br />permitting and suitable -financing within six months of the date <br />of the contract. If the County were unable to satisfy any of <br />these three conditions, the County could bow out of the contract <br />and pay the seller $30.00 per acre for each month in that period, <br />or $2,364 per month, which for the full six months would amount <br />to about $14,187. <br />Attorney Brandenburg continued that the Monroe property is <br />59.9 acres, and the price per acre is $9,000, the same as the <br />Catron property, or a total of $539,100. They, however, have a <br />19 <br />JAN 3 0 1985 BOOK �� f'A�E 714 <br />