2004-04 VACATING RIGHT OF WAY - ADJACENT TO 3945 EAST PARK LANE

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AREA DESCRIPTION: The tract being appraised is located in an area along Lake Decatur which is zoned R-3 - The Census Tract # is 0011.00. The Flood Zone Map, dated 8-1-1979 # 1704290020 C shows Lot 22 of Lake Park Addition and the subject tract to be in a C zone. The area is South of William Street Rd. and along the West shoreline of Lake Decatur. TAX INFORMATION: The tract being appraised has not been on the tax rolls, being part of a City Street or Right-of-Way. SALES COMPARISON (MARKET) APPROACH: Sales or Transfers of City property to adjacent landowners for the years '� 2001, 2002 and 2003 are as follows: 1. Ordinance vacating a Right-of-Way on a tract of land consisting of approximately 2199 square feet for the benefit of Lot 68 of Spangler Heights �, Addition for a sum paid to the City of$950.00. This results in a price of 43 cents I per square foot. Ordinance # 2001-14 2. Ordinance vacating the 40 foot right of way of Pearl Street consisting of I'�, 4605 square feet for the benefit of Lots 9,10,11 and 12 of Block 3 of Gatling's Addition for a sum paid to the City of$1800.00. This results in a price of 39 cents , per square foot. Ordinance# 2001-68 I 3. Ordinance vacating an alley consisting of 2672 square feet for the benefit of Lots 11,12 13 of Block 1 of P.H. Brueck's Addition and Lot 11 of Block 1 of ' A.E. Kinneys 1 st Addition for a sum paid to the City of$700.00. This results in a price of 26 cents per square foot. Ordinance # 2001-72 4. Ordinance vacating alleys and the right of way on West Macon St. consisting of 57,461 square feet for the benefit of the owner of abutting property for a sum paid to the City of$13,800.00. This results in a price of 24 cents per square foot. Ordinance#2001-32 5. Ordinance vacating a portion of an alley consisting of 860 square feet for the benefit of Lot 1 of McIntosh's Subdivision of Lot 5 in Block 1 of P.H. Brueck's 2"d Add'n for a sum paid to the City of$200.00. This results in a price of 23 cents per square foot. Ordinance # 2001-33 6. Ordinance vacating portions of West Hay and North Union Streets consisting of 132,176 squa.re feet for the benefit of the adjoining landowner for a sum paid to the City of$71,800.00. This results in a price of 54 cents per square foot. Ordinance # 2002-01 7. Ordinance vacating a portion of West North Street consisting of 2739 square feet for the benefit of Lots 1,22,23 and 24 in Block 7 of Wm. Bandy's