Ordinance No. 20258 - Laserfiche WebLink

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ALTERNATIVES CONSI~D ~ WEP influencing economic market climates. Based on very preliminary data, smaller industrial lots appear to now be selling in the range of $2.50 to $3.00/sq. ft. and larger tracts in the $l ~00 to $1 ~50/sq. ft. range. Individual properties can fluctuate within this range for a number of reasons, including but not limited to, location~ access, utilities, size and availability. The "Southern Alternative" proposals bisect a large industrial development property, the Green Hill Technology Park, which has been subdivided into industrial lots ranging in size f?om roughly 4 to 8 acres. These lots have developed street access and all utilities available. The major R/W cost complication comes f?om landlocking a large portion of the developable land in this park and also landlocking an adjoining large industrial tract to the west due to limiting access to the WEP. Two industrially zoned parcels, 17043200~ #600, containing 78.90+/- acres and 17043212 TL #1 containing 43.23+/- acres, are rendered landlocked by both the Southern and Southern (Modified) alternatives. Remainder parcels on the Southern Alternative consisting of 17043212 TL #200, #300, #400 & #500 and 17043213 TL #200, #400 & #700 are damaged because of lack of access. Remainder parcels on the Southern (Modified) Alternative consisting of 17043212 TL #200, #300, #500 & 17043213 TL #200 are damaged because of lack of access. These damages amount to large additional costs of millions of dollars tbr both of these altematives~ A prelimin~ estimate of the dollar amount these damages contribute to the overall alignment R/W cost estimates given above is in the neighborhood of $6~200,000 for the Southern (Modified) Altemative and $7~400,000 for the SOuthern Alternative, and substantial acreage impacts. In addition, damages could be considered to the Green Hill Technology Park on the south side of the realignment proposals because of shape deficiencies of the impacted lots and the necessiW to reconstruct the existing roadways and layouts. These damages cannot even begin to be fully analyzed until a formal appraisal of the property could be done. Other major cost impacts of these alignment alternatives occur in several places. Damages occur under both Southern alignments because of access restriction to the Chevron service station at the corner of Green Hill and West 11th. These restrictions would cause the entire purchase of this property and displacement of the business. The additional land, improvements and business rel~afion costs would likely put the acquisition of this property alone well over $1,000~000. This does not include any possible cleanup costs for potential hazardous materials ~?equently associated with gas stations. The connection of the north end of Terry Street, the necessary' access restrictions in the area of the West 11th/Green Hill intersection area and the widening of West 11th to the west of Green Hill to handle the increased traffic load would cause several residential relocations with both Southern alternatives. It is estimated that there would be six single-family residential relocations necessary because of the Southern (Modified) Alternative and seven because of the Southern Alternative. The residential prope~ies ~mpacted are as follows: 17042823 TL# 11600, 17043100 TL #300, 17043114 TL #300 & #400 (former lots 1704310000407 & 00412), 17043100 TL #500, 17043114 #200 (formerly 1704310000700), and 17043100 TL #1600. The residence on the property at 17043100 TL#I600 would be displaced, but this is a large 99+/- acre parcel that would not necessitate the damaging and buying out of the entire remainder parcel as was necessary with the other smaller lot residences that were impacted. The additional residential relocation on the South Alignment is anticipated because of impacts to the residence to the east of the Bunks Plus Store on W 11th, located on 17043200 TL# 200. Although ODOT would likely purchase the old store/residence property at the southwest comer of Green H~ll and W 11th due to access restriction, it is currently unoccupied and would not be counted as a business or residential relocation. The other business that is estimated to be impacted to the point of EXHIbiT C-2 - FIND{NGS