2/6/1990 - Laserfiche WebLink

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based on an appraisal dated Nov. 15, 1989 by Armfield an Wagner Appraisers. The owner, Dennis Smith, originally requested compensation for the post -development value of the land which was $39,656.54 based on an opinion of the appraised value of the commercial lots for market purposes. The County staff has taken the position that the following compensation is justified for purchase of the right-of-way. Undeveloped appraised value of the 19,645 SF R/W $24,380 Cost for paving road in 60' of R/W 1,800 Cost of 60 LF of waterline 600 $26,780 In negotiating the purchase of this additional right-of-way, Mrl. Smith has reduced his asking price to $30,000. ALTERNATIVES AND ANALYSIS The alternatives are as follows Alternative #1 - Accept the owners offer to sell the additional right-of-way for $30,000. This value is $5,640 greater than the Nov. 15, 1989, appraised value in the undeveloped condition. The cost to pave the subdivision street—and---install waterlines through the 60' right-of-way parcel is $2,400. After this value is considered, .the $3,240, additional cost would be compensation to offset loss of the profit potential of the right-of-way parcel. .-Alternative #2 Deny the $30,000 final offer by the property owner and offer to purchase the right-of-way for $26,780. This offer by the County has been denied by the owner. Alternative #3 Refuse to purchase the additional right-of-way at this time and permit the owner to include the area in the limits of a commercial lot. RECOMMENDATIONS AND FUNDING It is recommended that Alternative #1 be approved. Funding to be from District 6 Traffic Impact Fee Fund. ON MOTION by Commissioner Scurlock, SECONDED by Commissioner Bird, the Board unanimously approved staff's recommendation of Alternative #1, as set out in the above memo. FED + , u, 84 60OK