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. � <br /> . . : `. � . . gooK17'9� F��cE 16�"1 <br /> . Dennis B. f?odgers -2» Piov. 6, 1973 <br /> p?'i.vG.telf o:•rned property separated by a third paxcel oT.•med b� the City <br /> natural�y beco:�es �reatly enhanced on the vacation of the tti_rd parcel. <br /> This is not the case, hoti��ever, ��ith the Jan�s tract and the citf-oz�rn�d <br /> old P•Ia�s�. Street ri�ht-of ti•ray. mhus the problem becones one oi hotJ much <br /> added value resul-ts from combinino tVro parcels of land into one. <br /> In revie�rin� the earlier appraisal renor'c in rzference to the L.800 sq_.ft. <br /> city-owned tr.act� I find the value conclusion t�ras based upon an estimated <br /> .,,,� , _ . r. • , • • -. �- _ � <br /> ..���Y t"..� ....1.,.u... .....�.v ._......... .�...._.. ... .............� vy. v,.... r.i v.....a� .�i:.ta_��� u1iU.i.� <br /> P4-1 Industri��l �,and Sa1es fromy82�' per square foot -to 75� per square foo�. <br /> , Industrial ar�d Comnercial Land sales in the vicinity o�' the subject property <br /> have been slc��r -- inciicating a weal�ess. Due to �he static na�ure of tr� <br /> neighborhaod, I find no market indication ihat 1and values have increased <br /> over Z,rhat i�ras estimated in the appra�sal report of 1+Ioveraber 153 1971. <br /> In considering the amount of value added due to pZottage, I conclude there <br /> is'only a minnimtun of added value since the Janes property wil� be serviced <br /> from only one point along P•Tain Street ti,ri.th access. That reduces the size <br /> ar_d -�ype af corr�,ercial operation which ma,y be attracted to the site. tidith <br /> approximately 1.It,�.00 square feet in tne Janes tract, �here �s artple room to <br /> constiruct a ��uildin� to service many small comr�ercial. uses. Thereiore, the <br /> addition of ,aB00 square feet of city-ot�med property, may produce �n1�j <br /> l:irni.tsd added ben�fit. `I.'he benefi-c due to plottage I esti.r.iate at y?300.00. <br /> In summary, I estim,ate as of ldo�ember l, 1973 that the Janes `i�ustees ti•rould <br /> bene#'i.t fror.. the vacat�_on of the city-owr.�d tract shaded i� green an� le�al.ly <br /> described� ir,� the attached plat to be divided as folloti�rs: <br /> Value oi city�otmed tract {�600.00 <br /> Potential p10-tta�,e value k�300o00 <br /> Total benefits accrued to Janes from vacation ti�900e00 <br /> Plea.se refer �Go the eaxlier appra�sa.l report, the attached pla�, axid m,y <br /> certiiication. <br /> Sincerelf, <br /> . . _ / C/ . . <br /> - �,�__.��� � <br /> , <br /> P. T3r.uce Campbel7., <br /> Rea.l i��tate Ap�raiser <br /> P�C:e1. <br /> Enc1e <br /> . ,y <br />