10/04/1999 Park Board Packet - Laserfiche WebLink

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• As for land values, I assume that you have been discussing purchasing the property with local land owners, appraisers and developers, each of whom would better understand the local market better than I would. Although my expertise is not in appraising land, my recent experience with cities acquiring land for park projects leads me to believe that the price being asked for the Montain property is within reason. Unless the city is willing to employ condemnation for acquiring private property for public use, land values will be driven by the long -term market prospects. I suspect that Mr. Montain understands that if he simply held onto the property for a few more years, its value would continue to rise and at some point far exceed the current asking price. Although the price may seem expensive from a historic perspective, it is my expectation that within a few short years it will seem like a bargain. The only qualifier that I would put on the current asking price is to make sure that it reflects any land value loss for non - buildable property, such as the wetlands, and the power line. I assume that you have given this due consideration in your negotiations thus far with Mr. Montain. A final important point, from my perspective, is the need for the city to acquire this or another parcel of property for athletic uses in the near future to fill a major void in the park system. As I see it, the city's decision as to whether or not to acquire an athletic complex -sized property will greatly impact future decisions made with respect to the way other parks in the system are planned and developed. If a property can be acquired now or in the near future, the city will be in a position of much greater flexibility when planning other parks in the system. As we've discussed, this flexibility will be very important if the conservation development approach to subdivision planning now being considered by the city is to prove workable from a parks standpoint. Please call if with questions or if you need additional input. • Thank you. Sincerely. • S hoenbauer