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TOt MAYOR AND CITY COUNCIL <br />FRjf CI ERK-ADMINISTRATOR PAULE CW <br />DATE: JULY 27, 1968 <br />SUBJECT: 8100 GROVELAND ROAD APPRAISAL <br />Pursuant to the direction of the City Council at the July 5, 1988 <br />agenda session, Staff requested that the City's appraiser <br />provide an explanation of the methodology used to select compararables <br />used in the original appraisal of 8100 Groveland Road and review <br />a list of other properties supplied by the City to determine if the <br />original appraised value should be changed. <br />Attached pleased find a letter from John Steensland explaining the <br />process- used in selecting comparables and listing other properties <br />provided by the City. In some cases, the properties provided by the <br />City had not sold cr were sold so recently that the information was• <br />not available. :n discussing the matter with Mr. Steensland after <br />receiving his letter, I advised him that we had learned that Mr. <br />Johnson had bought the property at 8100 Groveland Road in May of 1986 <br />for $35,000. Mr. Steensland indicated that neither this information <br />nor the new comparables would change his original appraisal. <br />As ycu may recall, Mr. Steensland gave the City 3 alternative values <br />for portions of or the entire 1.7 acre site. The 3 alternatives were <br />allows, <br />1. The entire 1.7 acre site - $55,000 <br />2. A 77.5 foot strip for a depth of 190 feet - $27,000 <br />3. A 77.5 root strip for the entire length of the property <br />- $38,000. <br />Staff would request Council direction au to your desire to acquire the <br />property, which alternative you wish us to negotiate and the maximum <br />purchase price you are willing to pay. <br />