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As anticipated we were unable to complete the engineering and appraisal work to be able to close escrow <br /> by the October lst date set by the property owner and the pending purchase agreement elapsed. Staff <br /> again requested extension of the closing date but the property owner declined an extension and explained <br /> due to funding uncertainties he planned to continue with his development plans. <br /> An initial verbal report from the appraiser indicated that the appraisal expected to be presented to the City <br /> this week will be close to $430,000 or almost $170,000 short of the $600,000 that the property owner is <br /> asking. Once the formal appraisal has arrived, we will supply this information to State Parks and to the <br /> property owner and continue negotiations based on this new information. <br /> For more information, please contact me at 682-4930 or Johnny.r.medlin@ci.eugene.or.us. <br /> Attached is a detailed chronology of the acquisition from fall 1998 to August 2004. <br /> East Fork Amazon Headwaters (Dillard Parcel) <br /> PROPERTY ACQUISITION CHRONOLOGY <br /> Fa111998 POS bond measure provides $3.72 million for expanding Ridgeline Trail, with a <br /> target of approximately 25 acres in the Amazon Headwaters vicinity <br /> Summer 2000 Parks staff initiate property negotiations with property owner for portion of 90+/- <br /> acre parcel on Dillard Road. Early discussion was for 26 acres at the southern end <br /> of the site. Property owner countered with proposal to sell 54 acres-all property <br /> south of and including the BPA easement. <br /> March 2001 stormwater acquisition program initiated. <br /> October 2001 Southern portion (54 acres) purchased with POS bond and some stormwater funds. <br /> Property owner continues to market the northern portion (early price is <br /> approximately $800,000). <br /> December 2001 City staff receives verbal approval from owner to proceed with appraisal and sale of <br /> stream corridor and presents property owner with offer for 8.5-acre portion of the <br /> remaining 39-acre site for corridor protection. <br /> 2002-2003 Property owner receives further input from private consultants and determines not <br /> to consummate sale of a portion of the property. Negotiations are halted. <br /> August 200,3 Property owner responds with counter to sell 10-acre stream corridor for $150,000, <br /> subject to approval of the location of the 10 acres within the larger site. Offer was <br /> signed September 25, 2003. City surveys site to determine 10 acres to be described " <br /> in the purchase agreement and submits map to property owner in November 2003 <br /> for owner's approval. At this-time the property was listed for sale for $798,000 <br /> (approximately $20,000 per acre).. <br /> <br /> January 2004 Property owner requests an offer for entire site. City offers $300,000 in a sale and <br /> donation combination package. City funds consist of $150,000 stormwater <br /> acquisition and $150,000 in Ridgeline Trail bond funds. <br /> Paget <br /> <br />