New Search
i , <br /> i <br /> Vacant Site <br /> I Among all reasonable, alternative uses, the use that yields the highest present land value, <br /> after payments are made for labor, capital, and coordination. The use of a property based <br /> I on the assumption that the parcel of land is vacant or can be made vacant by demolishing <br /> any improvements . <br /> r Leaally Permissible - Legal factors influencing the subject are primarily zoning <br /> I regulations and county ordinances. The site contains two zones, F -1 (Important <br /> Forest Lands) and F -2 (Forest Lands) by the Lane County. The purpose of the F -1 <br /> zone is to recognize that commercial forest lands within the County are necessary <br /> 1 for the continuous production of renewable natural resources and to encourage the <br /> management of these lands. Special use permits are required for dwellings in this <br /> zone. The purpose of the F -2, zone is to encourage forest and agriculture as the <br /> I dominant use of the Land. Special use permits are also required for dwellings in this <br /> zone. A copy of the county's F -1 and F -2 zoning ordinances are included in the <br /> Addenda to this report. <br /> Physically Possible - The physical characteristics of the site (location, shape and <br /> topography) generally support any of the permitted uses, with no adverse <br /> conditions noted. Regarding Iocational features, the subject is located south of the <br /> MetroPlan line and Ridgeline. According to city and county planners, the MetroPlan - <br /> t line and Ridgeline represents the obvious boundary of any extensions made to the <br /> UGB in the future. This is because city services would not likely ever be extended <br /> over the Ridgeline. This suggests that future development potential of the south <br /> portion of the subject is non - existent and the current zoning represents the only . <br /> allowed uses at present and in the future. <br /> • At present, of the several tax lots that encompass the southem portion of the <br /> • subject, two have dwelling permits. These tax lots were once improved, however, <br /> those improvements have been demolished. The ability to inhabit these two tax lots <br /> remains. The remaining tax lots do not have dwelling permits and can only be <br /> developed as outlined in the F -1 and F -2 zone codes. Physical characteristics <br /> support any uses outlined in the zone codes. <br /> Financially Feasible & Maximally Productive - For the subject, the financial feasibility <br /> and maximally productive use of the site are synonymous. Legal uses include those <br /> that maintain and conserve forest lands. Occasionally, dwelling permits are <br /> granted. In the case of the subject, two tax lots have dwelling permits, while the <br /> remaining lots do not. The maximally productive use of the site would be one that <br /> takes advantage of the current zoning and the dwelling permits. Therefore, the <br /> maximally productive use of the subject's southem portion is a forest related use <br /> and utilization of the dwelling permits on two of the subject tax lots. <br /> Marketability - Because of the subject's size, location and dwellings permits, we <br /> anticipate a marketing period of less than one year, if listed at or near market value. <br /> This is consistent with marketing periods of similar properties in Lane County and the <br /> State of Oregon. <br /> I <br /> 8 The Dictionary of Real Estate Appraisal, Third Edition. Chicago: Appraisal Institute, 2002. <br />