1999-10-26 CC Workshop Meeting - Laserfiche WebLink

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therefore require fill. It is difficult, without engineering information, to accurately determine the approximate amount of fill it would require. The subject is serviced currently with sanitary sewer, however water service is not present at the property. Water service is located approximately 300 feet north of the subject on Main Street, or approximately 150 feet south of the subject on Centerville Road. Likely extension of water service would be from the Centerville Road location. This appraisal assumes the subject to be serviced with water service. The subject is basically void of purposeful landscaping, and is primarily lawn area with possibly a few trees along the western property line (it is difficult to determine as there are no survey or lot lines defined). The subject is considered to be "L "- shaped, with the exception at the corner of Centerville Road and Sorel Streets. The exception is an older duplex, which upon redevelopment of the subject site, would be included into.the entire project. Please note: the subject is not located in a floodway or flood fringe district. No easements are known to this appraiser. The legal description does not indicate any, and according to Jim March, he doubts if there are any. In the event that there are any, the can most likely be moved during a redevelopment project. Any likely utilities would be gas or electric, and no visible signs of these were found during inspection. Statement of the Exclusion of Any of the Usual Approaches to Value: The only applicable approach for which to value land is the market approach. The cost approach is utilized for improved properties, and the income approach is utilized for properties that are capable of producing an income stream -- such is not the case with the subject. Reference to the Existence of Specific File Information in Support of Value Conclusion: All of the information which is part of the appraisal is on file in the office of the appraiser and is available for inspection by the client, such third parties as may be authorized by due process of law, and a duly authorized professional peer review committee. Date of the Appraisal and Statement of Value Conclusions: Date of Appraisal: October 1, 1999, the date of most recent inspection Cost Approach Conclusion: N/A Income Approach Conclusion: N/A Market Approach Conclusion: $47,500 to $55,000* *these values assume the buildings razed, and water and sewer service available in front of the site. 7