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87-124 AUTHORIZING SALE OF LAND 300 BLOCK WEST 1ST DRIVE
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87-124 AUTHORIZING SALE OF LAND 300 BLOCK WEST 1ST DRIVE
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Last modified
8/25/2016 4:04:01 PM
Creation date
8/25/2016 4:03:56 PM
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Template:
Resolution/Ordinance
Res Ord Num
87-124
Res Ord Title
AUTHORIZING SALE OF LAND 300 BLOCK WEST 1ST DRIVE
Approved Date
11/16/1987
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. - i <br /> ' Sale #4 is a smaller site purchased by an adjacent owner, j <br /> st:ronger location on West Eldorado Street. Unit cost would 'I <br /> , be adjusted down. � <br /> i� <br /> � ii <br /> �i <br /> After adjustments, a unit cost of $1 per SF would be in !� <br /> line. Applying this: `! <br /> �i <br /> . 24, 150 SF @ $1 or � <br /> i� <br /> Indicated Land Value ( rounded) . . . . . . . 524, 000. ' <br /> ,. <br /> � <br /> �� <br /> �, <br /> ; <br /> It is estimated that there will be no increase or decrease ; <br /> in the property ' s value over the remaining term of 7 . 86 � <br /> � vears. Present value factor for a reversion received in ; <br /> � 7 . 86 years, discounted at 11$, is . 44 . Applying this to the i <br /> � <br /> � estimated value at the end of the term: �, <br /> � i <br /> � I <br /> � 24, 000 x .44 = 510, 550 1 <br /> i <br /> � I, <br /> �i <br /> SLJIyIIKARY � <br /> II � i <br /> j� Present Value of Income Stream $12, 4U0 j'. <br /> I <br /> ,i <br /> Present Value of Reversion 10, �_0 <br /> �� <br /> li <br /> �: TOTAL 522, 950 <br /> i <br /> ;I � <br /> '��; � <br /> �i <br /> j� After analysis, it is my opinion that the estimated mark�t <br /> �I value of the involved property is. . . . . . . . . . S23, UU0. <br /> � � <br /> i � <br /> I' <br /> i� j, <br /> ,, <br /> i; , <br /> �: <br /> i <br /> � <br /> ,, � <br /> i� <br /> II <br /> �� <br /> I� <br /> �i ' <br /> II <br /> �i <br /> �� 14 �� <br /> i � <br /> �� , <br /> �70THFUSS - HUG APPRAI$;�iS <br />
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