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. Y <br /> • <br /> ENT Of . <br /> `r Gf!y UNITED STATES <br /> W ! <br /> o DEPARTMENT OF THE INTERIOR <br /> ‘.4.1041BUREAU OF OUTDOOR RECREATION <br /> A-6.4„.12A-6.4„.120 F"*Gii'$C NORTHWEST REG ION <br /> IN REPLY REFER TO: <br /> G26 915 SECOND AVENUE, RM. 990 <br /> 41-00811 SEATTLE, WASHINGTON 98174 <br /> ANUG 1 1197G <br /> David G. Talbot <br /> State Parks Superintendent <br /> 525 Trade Street, S.E. <br /> Salem, Oregon 97310 <br /> Dear Dave: <br /> We are returning Oregon project 41-00811 , Morse Ranch Acquisition. <br /> A number of revisions will have to be made to this application in <br /> order for it to be approved. <br /> Initially, the appraisal materials submitted with this proposal do <br /> not support your contention that the Morse property is worth $305,000. <br /> We have had these documents checked by a qualified MAI who frequently <br /> does work for this office. In essence, he has concluded that neither <br /> appraisal by itself adequately supports the stated value conclusion. <br /> The estimate cited in your state appraisal review was rejected for <br /> the same reason. However, based on information contained in the two <br /> reports, our reviewer was able to .extrapolate an estimate of fair <br /> market value which is better supported and will be used to determine <br /> 4 <br /> the level of Fund assistance for this acquisition. <br /> Using the format cited in part III-D of the M-4 application submitted <br /> with this proposal , we might consider funding, at the normal 50% level , <br /> a project which includes the following items at the indicated dollar <br /> amounts: <br /> 37% of Dwelling Value ($56,850) $21 ,035 <br /> 37% of 0.5 Acre Home Site @ $8,500/acre 1,573 <br /> k . 26.28 Acres @ $8,500/acre 223,380 <br /> Other Improvements 8,550 <br /> Relocation 4,000 <br /> Total $258,538 igs7, <br /> •• <br /> 'x / pK <br /> tTL 613, 03 a <br />