2/5/1985 - Laserfiche WebLink

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FEB 5 log BOOK �'f�: r Chairman Lyons noted at the previous meeting there was some discussion as to whether the price could be somewhat closer to the appraisal. Attorney Brandenburg believed both land owners have representatives here today, and stated that he has asked them to consider their prices very carefully. Neil Nelson, associated with Paul Koehler Real Estate Investment, came before the Board as agent for the Catron property. He pointed out that there is only a difference of only $436.18 an acre from the highest appraisal for this particular property. This appraisal was made in December of 1984; the closing will not take place until July of 1985; and Mr. Nelson believed this property will reach the appraised price by that time. Taking into consideration the magnitude of the property, he felt this is a very close appraisal. Mr. Nelson informed the Board that he had contacted all of the three property owners involved, and they all felt that $9,000 per acre was the going price and did not wish to reduce it. At this time, it was noted that the representative for the Monroe property apparently had left the meeting. Attorney Brandenburg reported that he talked with the Monroe representative over the phone this morning, and he had indicated that the last word from the children involved in the estate was that they would settle for no less than $7,400 per acre net to them, or a total of $428,000. When you add the commission, which would be $42,000, and then add add on top of that the land development cost associated with the site as compared with the Catron site, it brings that parcel substantially higher per acre in the overall cost. Commissioner Wodtke asked, in regard to paying higher than the appraisal, if we could look at it from the perspective that we really are getting the property for the appraisal price plus closing costs and commission. 4