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. 1�� . � � . <br /> � Dennis B. �?od�ers -2- P1ov. 6, 1973 <br /> pY'ivately o:•rnzd property separated by a third p�r cel ot•med b;� the City � <br /> na.tural.�y beco::ies greatly enhanced on the vacation of the tYi.rd parcel. <br /> This is not the case� hot�rever, V�ith the Janes tract and the citf-ot�rned <br /> old �•Ia�n Street ri�ht-of ti�ray. Thus the problem becanes one oi hot�r nuch <br /> ad.ded val.ue results fron combinin; tzro parcels of land into one. <br /> In revie�rinb the earlier appraisal repor� in rzference to the �.800 sa.ft. <br /> city-ossned tr.act� I find the value conclusion t•ras based upon an estimated <br /> 12z� � _ . , , -. . ., • , . .. • � <br /> � r:.r �.;.::.:.., �.;.,., �..._.� ...._�.. __ :...,w.... .,y ;,',..: r�,..,�.�.. .:.w�.:�„ .. .�..� <br /> M-]. Industri�l �nd S�1es from S;� per square foot to 7�¢ per squase foot. <br /> Industrial ax�d Ca, ,ercial I�an.d sal.es in the vicinity of the subject property <br /> have been slc��r -- indicating a wealrness. Due to the static na�ure o? the <br /> neighborhood, I find no market inclication that land t*a7..ues have increased <br /> over z�rhat was es�imated in the appraisal report of ilovenber 15� 1971. <br /> In conszdering the ar►ount of tralue added due to plottage, I conclude there <br /> is only a minnirn�m of added value since t�ie Ja.nes property wil� be serviced <br /> from only one point along �2ain Street ti�rith access. That reduces the size <br /> ar_d type of com�.ercial operation wnich may be attracted to the sitie. tiJith <br /> approa.imately ll�,�.00 square feet in the Janes tract, �here is ample room to <br /> cons-�ruct a -�uildin� �o service many small comriercial uses. Therefore, tihe <br /> adc�itian of ,�800 square feet of city-oti.med property, may produce onl.y <br /> 1irrLi.ted added benefit. The b�nefit due to plo-t-ta.ge I estimate at �?340.�0. <br /> In summary� I estima-te as of Tdovember 1, 1973 that the Jan�s �l�ustees z•rould <br /> benefit fror.. the vacation of the city-owned tract shaded in green an� 1e�al.ly <br /> described ir, the attached p].at to be divided as follows: <br /> Value oi cit�»otimed tract {3600.00 <br /> Potential plotta�;e value �i300o00 <br /> Tota1 ber�efi-ts accrued to Janes from vaca.tion ��900.00 <br /> Please refer io the earlier appraisal report, the attached pla�, and rrry <br /> certi.i ica�ion. <br /> SincerelJ� - <br /> ._ . � C/ <br /> _ �' <br /> P. t3r.uce Car:lpbel7_� <br /> I�ea1 ��,state Appraiser <br /> PF'C:e1 <br /> Encl. <br /> . ,� <br />