New Search
MEMORANDUM <br /> December 18, 1997 <br /> TO: Johnny Medlin <br /> FROM: John Etter <br /> SUBJECT: Moon Mountain Purchase Offer <br /> Following discussions with the owner, Debbie Smejkal, of Tax Lots 18 03 03 00106 and 00107 <br /> on which the targeted Moon Mountain Park is located, and following an appraisal of that land by <br /> Charles P. Thompson and Associates, I believe the City should offer to purchase the targeted 35 <br /> acres for $600,000.00. <br /> There are two components in the purchase. From the land on T.L. 106 (inside the UGB), there <br /> are 22.70 acres. The appraisal, based on a slightly larger (23.56 acre) area determined that the <br /> value of this raw South Hills land within the UGB should be valued at $23,000 per acre in <br /> comparison to recent sales and current asking prices. 22.70 acres x $23,000 = $522,100. <br /> From T.L. 107 (outside the UGB), there are 12.30 acres. The appraisal, based on a substantially <br /> larger (21.64 acre) area, determined that the value of this raw South Hills land outside the UGB <br /> should be valued at $4,700.00 per acre. 12.30 acres x $4,700.00 = $57,810. The combined total <br /> is $599,910. <br /> In recommending the figure of $600,000, we would be essentially holding to the per acre values <br /> established in the appraisal. As previous planning exercises have shown, much of the slopes on <br /> Moon Mountain render development financially unfeasible. The more developable land that is <br /> not to be a part of the park would presumably be worth more per acre if there was an appraisal <br /> made comparing the value of the steep portions to the more gently sloped portions. For the area <br /> outside the UGB, such comparison of sloped areas should not be a significant issue since urban <br /> development is not allowed. The fact that the City is paying for the most problematic portions of <br /> this property (in terms of highest and best use) should be seen as reason to not pay a significantly <br /> higher price that the value averaged for the whole of each parcel. <br /> Attached are a portion of T.L. Map 18 03 03 showing the subject parcels, and a contour map <br /> showing the 35 acres in relation to the topography and tax lots 106 and 107. Working from <br /> existing legal descriptions, I can write a description that would encompass the targeted acres. <br /> We will need the services of the City Surveyor's Office (or outside engineer) at some point to <br /> confirm (stamp) the description for recording purposes and set corner markers. I see the <br /> acceptance of our offer as being tentative, to be finalized with completion of an acceptable legal <br /> description. <br />