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Mt.M0 to: Clerk-A.Imioi!:I rator and (,try CounCI I / ,l <br />I.RIIN: Dirovt- -I o1 Punlic Works/Community IA:� •Inplsenyl'i <br />UArE: Nuvomb. 1 7, 1` US <br />SUBJECT: APPRAISAL OF III:RNST 1'R11PE.RTY IA)•ATI.0 Al 1299 CO. R0. n <br />Attached please I Ind Ill., cover letter dat.•d OrC.ill•I I5, IYtl': <br />(city received it on November 4. 19dS) and Page 1 of the 101i"►t <br />wlllrh is .I summ.oy ..I 1..-,tinenl d.1l n. 1 •11.1 11.0 Inr ludo a .".P1' <br />the entire report becau.•ie it i:: dpproxtmdtely l inch thick. <br />As you may retail, ltotl.•.l • Snnn pt.ry idol .m ,.ppt .•• •••I ..1 (6.•II <br />property which s.ild Ih.11 their 61 does w.,:i w':rtl. )L1u,uuu. <br />The appraisal was prepared so that the Park Dedication Pee tur <br />Herbst prulurty c••ul.l I,. determined. When the Herbst appraisal <br />was suhmitlod, tln• t'ily •;aid that we w.Illt.•.l ICI h..v" .Iur tiwll <br />appraiser aetermine Ihi value aI the land. <br />our appraiser, Sh.•ncbon-Goodlunti-Taylgr, Inc. (S.(;.T), determiner <br />that the in..rket valu.• ..I the I.uIJ is "i9U.UU0'3sti•.n l nq good s..i I <br />conditions throughout jbe�e. S.G.T.aetermined that the <br />value of the lamp Is ..,auminq pour soil in the soothe•-.• <br />quarter ut the site. <br />Mr. 1nbs Taylut, appraiser, indicated that he t,,ok this 2 <br />><ro <br />borings toindic t <br />value position <br />the <br />u�quality ofsoil r4tll thersouthwestdquartor <br />of the property. <br />RECOMMENUA•1•ION: Lase) ..n this It -port, I rucualmerd that the Pali. <br />De teat or Fee to. the Iterbst property be $59,000 (IOY x <br />$590,000). If 11.•Abst and Sons, Inc. tx•lh•ve that the soil in tt,. <br />southwest quartet tit th.•br property is pxor and it they ran: to <br />prove to us that the. still is poor, they should deposit approxi- <br />mately $2,000 with the City and allow u9 to hire a soil tasting <br />firm to conduct soil borings on the southwest quarter of their <br />property. The 8%-�l Wrings <br />in will <br />l determine whether or not <br />buildil.y-. <br />SWT/bac <br />