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Mr. Craig A. Waldron September 19, 1989 <br />Director of Economic Development <br />Page Two <br />The assemblage and correlation of market information has resulted <br />in the conclusion that the approximate market values of the <br />property as of September 13, 1989, are: <br />Value of Oasis Pond, storm water pond and <br />pond buffer strip based on the property being <br />an integral part of the Rosedale Square <br />development complex: <br />TWO HUNDRED TWENTY-THREE THOUSAND DOLLARS <br />($223,000) <br />Market value of the 2.19 acre property on the <br />basis of it being a separate and independent <br />parcel: <br />FIVE THOUSAND DOLLARS <br />($5,000) <br />That part of the property consisting of Oasis Pond area is <br />concluded to have no value in either of the two valuation <br />premises. The area consisting of storm water holding pond and <br />buffer strip band is concluded to have a value of approximately <br />$4.00 per square foot when unalyzed on the basis of it being a <br />part of the overall Rosedale Square development project. <br />However, the value contribution by the storm water holding pond <br />and buffer land when analyzed ns a separate and independent <br />parcel is concluded to be only about $4,000 per acre. <br />Respectfully submitted, <br />Roger S crhrer, Appraiser <br />Consult ing Appraiser: <br />Wm.� If. Muske, , C R E <br />4 0 Real Estate Counselor $404 <br />L .1 <br />