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Terra Linda Park
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Terra Linda Park
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Last modified
8/24/2015 12:50:10 PM
Creation date
8/24/2015 12:42:26 PM
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PW_Operating
PW_Document_Type_ Operating
Correspondence
Fiscal_Year
2016
PW_Division
Parks and Open Space
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Related to property values, you mentioned two River Road sales that you wished to <br /> have considered after the fact. No address is given for the parcel. you say your church <br /> paid $100,000 per acre for– so we have no way of analyzing that sale. You also <br /> mentioned that the Gerots were paid $296,000 for a subdivided acre off River Road. As <br /> finished lots, the per acre unit value is distorted when compared to the value of <br /> "developable acres" of land. In the case of the Gerot acquisition, the City purchased the <br /> individual developed lots, net of dedicated rights of way (which were not compensated <br /> for) and the Gerots incurred all costs of engineering, construction of streets, utilities, etc. <br /> It is fairly typical for undeveloped land to sell at about the same price per acre as the <br /> individual finished lots. The appraiser further reports that your attorney supplied us with <br /> three additional "sales" at the time of negotiation. Those comparables revealed two <br /> sales for approximately $65,000 per acre each. A sale on Anderson Lane was <br /> considered to be a somewhat superior property and the sale on North Park Avenue was <br /> reported by MLS to be an "other than cash sale." The attorney also enclosed a "sale" at <br /> 4670 River Road, which was actually a listing of developable land with an old house on <br /> it. The listing had gone unsold after six months exposure on the market (listed for less <br /> than $60,000 per acre). The appraiser adds that it is noteworthy that this parcel <br /> subsequently sold in a better market—July of 2003—for $65,657 per acre. After <br /> examining these "sales," the City feels it gave you the benefit of any doubt in the final <br /> settlement of$65,000 per acre. <br /> • "We'll take care of it and keep the weeds down (they haven't)." "We'll take care <br /> of the trees just planted around the perimeter; we have people water during the <br /> summer. So you may remove the drip lines to the trees." <br /> We have standards for the mowing of undeveloped property. Those standards are set <br /> up both for property management issues and to comply with the provisions of the <br /> vegetation requirements contained within Eugene Code. I also agree that we are <br /> responsible for the maintenance of trees on the property that are intended to stay. It is <br /> my understanding that we have been meeting those obligations. However, it is very <br /> important to us that the neighbors of our park land feel we are good neighbors. I would <br /> be happy to talk to you about any specific maintenance concerns to determine if there is <br /> something we can do to make you feel more satisfied with us as a neighbor. <br /> • "If we buy this, it will not be used for a park for at least 10 to 15 years." <br /> Without being a party to the conversation, it is hard to know how this statement may <br /> have been made. The Parks and Open Space bond measure, passed by the voters in <br /> 1999, created a fund for the acquisition of parkland for future development. <br /> Unfortunately, it did not supply sufficient funds to develop the parcel we purchased from <br /> you. We will be looking at future park bond opportunities or the use of Park System <br /> Development funds to provide monies to develop this land into a more formal park. <br /> Since we are still looking at how to fund the development we have not set a schedule for <br /> this action. I personally will be a little surprised if we were to develop the property within <br /> the next five years but also surprised if we had not done some development before ten <br /> years have passed. <br /> • "If you refuse to sell we will be forced to 'take your property.'...Then 4-1/2 months <br /> ago Russ Royer says "I don't think it was our intention in your case." <br />
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