11/04/1991 Park Board Packet - Laserfiche WebLink

Home Search

PARK BOARD MINUTES OCTOBER 7, 1991 land value", and how do we determine raw land value? He also asked if all areas are the same for land value. Don Volk explained that land value in urban service areas is more valuable than those areas that will never be serviced by sewer and water. George Lindy asked if that situation wouldn't be covered in the density part of the formula. Don Volk suggested going back a year and averaging out previous land sales. George Lindy feels that the board is expected to be able to provide the most accurate land cost estimates to developers up front, to be fair to us and the developer. Ken Johnson says that it looks like the only real standard we have to fall back on is the assessed value. "It looks more standardized." Marty Asleson noted that some cities have an appraiser to determine land value. John Baumann asked what it costs and Ken Johnson wanted to know how accurate the appraisals are. Marty Asleson says that he has seen two different appraisers come up with two widely varied appraisals on the same property. He commented that is what the County Assessor is, an appraiser. George Lindy asked if the council was concerned with the $10,000.00 minimum being relevant every year. He asked Don Volk how frequent he thought the value of land would change warranting an increase in the per acre figure, and how long have we been using $10,000.00 per acre in our formula. Mr. Volk doesn't see a big change in property value very often and explained that we have just started using that $10,000. per acre figure recently. Mr. Lindy also expressed that he cannot see a big increase in property values in the next 2 or 3 years, unless something in the economy changes. He feels that if the cost of land has to be reviewed in 2 or 3 years, "isn't that the Park Board's main responsibility, to be cognizant of that figure all the time? " He also sees no problem in a review each year, "not to change it". But staff could apprise the board of it and provide an accurate minimum value per acre. George Lindy asked if we are over complicating the situation by trying to get into an indexing system. Don Volk feels personally, yes. He likes the basic formula, if land is purchased for less than $10,000.00 per acre we use the $10,000.00 figure, and as time goes by and land values increase we will use the $10,000.00 less frequently. He says the only "glitch" is the few parcels of land 2