Item B: Santa Clara Park Update - Laserfiche WebLink

Home Browse Search

ATTACHMENT B Property Appraisal Information The attached documents provide summary information of property appraisals relating to the acquisition of land for a Santa Clara community park, including both the Santa Clara site and the Laurel Hill Valley properties. This information is provided in response to a request from Council in February of this year. Santa Clara/lrvington Property This appraisal was completed by Charles P. Thompson & Associates on April 1, 2005 with a March 24, 2005 date of value. A value of $462,000 was determined for a 77-acre parcel in the northwest corner of the subject parcel, or that area proposed for parkland within the current concept plan for the 197 acres. The property was appraised based on the present Exclusive Farm Use (EFU) zoning and the site remaining outside of the Urban Growth Boundary (UGB). A value of $280,000 was determined as part of the evaluation of a 40-acre parcel located in the southern portion of the 197-acre subject property adjacent to Irvington Road. This appraisal was also based on the present EFU zoning and the site remaining outside of the UGB. Additional information is attached in the excerpts from the Complete Appraisal Summary Report dated April 1, 2005, and a letter from Charles P. Thompson & Assoc., Inc. dated April 12, 2005. Laurel Hill Property Appraisals had been conducted on this site previous to the recent Council request. One was done through a request of the City as part of preliminary-property negotiations. The appraisal, also conducted by Charles P. Thompson & Associates, determined a value of $950,000 for the approximately 100 acres to be sold in fee title to the City. In addition the appraiser was asked to provide an estimate for the value of the approximately 30 acre exclusive use trail and open space easement that was proposed to be donated to the City. The appraised value of the 30 acre easement was concluded to be $1,667 per acre or $50,000 for the total easement area. These values are based on the UGB boundary exchange scenario and the site being located outside of the urban growth boundary. Additional information is attached in a letter from Charles P. Thompson & Assoc., Inc., dated April 15, 2004 and the Complete Appraisal Summary Report excerpts dated April 6, 2004. For comparison purposes an appraisal of this site based on its value inside of the UGB is also referenced. This appraisal was previously completed for the McDougals in March of 2000 by Charles Thompson. The value derived based on that condition was $2,150,000. Additional information is attached in the Charles P. Thompson & Assoc., Inc., letter of March 22, 2000. L:\CMO\2005 Council Agendas\M050518\S050518B.doc