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MEMO ,,;: Clark-Administratnr and City Council <br />FROM: Director of Public Works/Community Development <br />DATE: January 13, 1986 <br />SUBJECT: HERBST 6 SONS PROPERTY LOCATED AT 2299 COUNTY ROAD H <br />As you may recall, the City is neyo a at1nU [or11 osedrsubdivisrion. <br />Inc. for the park dedication fee on their p P <br />Herbs[ i Sons' appraiser indicated that their 22 acres was worth <br />5220,000. The City's appraiser deooamsoel conditthat honsaandtthatue <br />of the IanA is $590,000 assuming q <br />the land could be worth as little as 5310,Ouu.0u assumi y poor <br />soil conditions in the southwest quarter of the site. <br />Staff met with Herbst 6 Sons and their attorney on January 13, <br />1986. Herbst 6 Sons indicated that they would be willing to pay <br />a park dedication fee of ten percent of t$22G,000. Staff <br />he <br />countered by sayinq that we thought that the City would accept a <br />park dedication fee based on the appraised value of $450,000. <br />The $450,000 figure is haltway between the land values determine <br />by our appraisers. At that point, they indicated that they <br />would <br />have to discuss this with other family members and that they <br />would yet beck to us. <br />We also discussed another <br />option llingHsoiltborings to see otherhis <br />see it the <br />option was the possibility <br />soil was bai. <br />Action d_ e_ gyed: This memo is submiLted to Nolicityoir neces- <br />comments, if any, on the subject property• <br />ion <br />sary at the presenr time. <br />SWT/ba. <br />