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Charles P. Thompson & Assoc., Inc. <br />Real Estate Appraisers & Counselors <br /> <br /> April 15, 2004 <br /> <br /> Russ Royer VIA FACSIMILE: 682-503'2, <br /> Senior Real Property Officer <br /> City of Eugene - Public Works <br /> Engineering Division <br /> 858 Pearl St. <br /> Eugene, OR 97401 <br /> <br /> RE: Appraisal of the McDougal Foundation properW containing approximately 98.68 acres, <br /> located on the north side of 30th Avenue, near its intersection with Spring Boulevard, <br /> Eugene, Oregon. <br /> <br /> Assessor's Map & Tax Lot No.: 18-03-10, TL 701 <br /> <br /> Dated: April 6, 2004 <br /> <br /> Dear Mr. Royer: <br /> <br /> Pursuant to your request, I have reviewed my file on the above captioned appraisal for the purpose <br /> of rendering opinions regarding the value of the land under the BPA Easement. I have included <br /> values for that portion inside this Urban Growth Boundary (Tax Lot 701) and that portion outside <br /> the Urban Growth Boundary, which was not included in the appraisal (Tax Lot 702). Tax Lot 701. <br /> the subject of the appraisal, contained approximately 98.68 acres, while Tax Lot 702 contains <br /> approximately 137.77 acres. <br /> <br /> The property which is the subject of the appraisal, Tax Lot 701 was valued in the appraisal at <br /> $950,000 or $9,627 per acre. The portion of that property under the Powerline Easement is believed <br /> to suffer a reduction in value of about two-thirds, which results in the value tbr the encumbered <br /> portion of $3,209 per acre. This portion of the subject property cannot be built-on, but has some <br /> value in that it can be used for density calculations. <br /> <br /> Tax Lot 702, the 137.77 acre parcel outside the UGB, is valued based on Sale 2 which involved a <br /> property that was divided into two 50+ acre parcels which sold in 1998 and 1999 at between $3,868 <br /> and $4,062 per acre. Using a figure of $4,000 per acre updated for time at 3% per annum, results <br /> in a time adjusted price of $5,000 per acre. This figure is utilized for the land parcel outside the <br /> Urban Growth Boundary. Reducing the $5,000 per acre by two-thirds results in a per acre value for <br /> this parcel of $1,667. <br /> <br /> P.O. BOX10233 · EUGENE, OREGON · 97+¢0-2233 · TELEPHONE (5Ztl) 343-,0,895 · [AX (541)343-5190 <br /> <br /> <br />