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R-94-07-14-9E - 7/14/1994WHEREAS, Council has previously determined the need to acquire additional right -of -way for the improvement and widening of. Gattis School Road, and WHEREAS, the City hired an appraiser to determine the fair market value of the needed right -of -way, and WHEREAS, the City's appraiser has recently revised his appraisals of the needed property to take into account recent land sales in the area, and WHEREAS, the Council wishes to revise its offers to purchase the needed property, based on the revised appraisals, Now Therefore BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS, That the City Manager and /or City Attorney are hereby authorized to make offers to purchase the needed right -of -way for the Gattis School Road expansion based on the revised appraisals; and the Mayor is authorized and directed to execute on behalf of the City any and all documents necessary to purchase said property. RESOLVED this 14th day of July, 19 :4 ATTEST: E LAND, City Secretary SOLUTION RS07144E RESOLUTION NO. /e 9 ill /7/7 CHARLES CULP ;5 . Mayor City of Round Rock, Texas June 29, 1994 GARDNER APPRAISAL GROUP, INC. REAL ESTATE APPRAISERS AND CONSULTANTS 4314 Medical Parkway, Suite 300, Austin, Texas 78756 (512) 458 -6294 Mr. Steve Sheets Sheets & Associates 309 East Main St. Round Rock, Texas 78664 RE: Gattis School Road Widening Project Dear Steve: I have reviewed the most recent market data transactions that have occurred in the area of Gattis School Road in Round Rock. As a result, I have found a number of transactions of which I was not formerly aware. After considering these transactions I would respectfully like to make revisions to the Alborz property which is as follows: Parcel No. 9 Owner: Alborz Corp. (Michael Hassibi, 346 -5754, and Austin Custom Home Builders Joint Venture) Total Compensation Calculations: Value of Whole (See Sale Number A -8) 105.238 Acres x $13,000 = $1,368,094 Value of Part Taken: 0.216 Acres x $13,000 = $2,808 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement: 0.483 Acre x $13,000 /Acre x 1% /Month x 6 Months = $377 TOTAL COMPENSATION PARCEL NINE: $2,808 + $377 = $3,185 Yours truly, OMAS R. DNER, MAI GARDNER APPRAISAL GROUP, INC. REAL ESTATE APPRAISERS AND CONSULTANTS 4314 Medical Parkway, Suite 300, Austin, 7'P1-nc 78756 (512) 458 -6294 June 23,1994 Mr. Steve Sheets Sheets & Associates 309 East Main St. Round Rock, Texas 78664 RE: Gattis School Road Widening Project Dear Steve: I have reviewed the most recent market data transactions that have occurred in the area of Gattis School Road in Round Rock. As a result, I have found a number of transactions of which I was not formerly aware. After considering these transactions I would respectfully like to make revisions to the Hickerson, Rusk and Berkman properties which are as follows: DOYLE HICKERSON Total compensation Calculations: Value of the Whole: 48.7234 Acres x 12,000 /Acre = $584,680 Value of the Part Taken: 0.635 Acre x 12,000 /Acre = $7,620 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement: 0.619 Acre x 12,000 /Acre x 1% /Month x 6 /Months = $446 TOTAL COMPENSATION DOYLE HICKERSON: $6,160 x $446 = $8,066 Rounded to $8,100 JEFF E. RUSK Total Compensation Calculations: Value of the Whole: 60.8766 Acres x 12,000 /Acre = $730,519 Value of the Part Taken: 0.062 Acre x 12,000 /Acre = $744 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement: 0.034 Acre x 12,000 /Acre x 1% /Month x 6 /Months = $25 TOTAL COMPENSATION JEFF E. RUSK: $744 X $25 = $769 Rounded to $770 JEFF E. RUSK Total Compensation Calculations: Value of the Whole: 135.78535 Acres x 13,000 /Acre = Value of the Part Taken (Tract 1): 1.419 Acre x 13,000 /Acre = Value of the Part Taken (Tract 2): 0.148 Acre x 13,000 /Acre = Total Value of the Part Taken: 1.567 Acre x 13,000 /Acre = $1,765,210 $18,447 $1,924 $20,371 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement 0.779 Acre x 13,000 /Acre x 1 %Month x 6 Months = $608 TOTAL COMPENSATION PARCEL THIRTEEN: $20,371 x $608 = $20,979 Rounded to $20,980 J. LAWRENCE DERRMAN Total Compensation Calculations: Value of the Whole: 76.5 Acres x $13,000 /Acre = $994,500 Value of the Part Taken (Tract 1): 0.914 Acre x $13,000 /Acre = $11,882 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement: 0.777 Acre x $13,000 /Acre x 1% /Month x 6 /Months = $606 TOTAL COMPENSATION TRACT ONE: Value of the Part Taken (Tract 2): 0.948 Acre x $13,000 /Acre = $12,324 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement: 0.68 Acre x $13,000 /Acre x 1% /Month x 6 /Months = $530 Also considered for parcel 15 is the loss of several large trees which lie within the temporary easement. It is our opinion that the value of the land to be used temporarily may be reduced by approximately $1,000 due to the possible loss of several large trees during the use of the temporary easement. TOTAL COMPENSATION TRACT TWO: $12,324 + $530 = $1,000 = $13,854 Rounded to $13,850 The additional supporting Market Data will be forwarded to your office as soon as I have had an opportunity to print it in final form. Sincerely, THOMAS R. GARDNER, MAI $11,882 X $606 = $12,488 Rounded to $12,500 Memorandum To: Stephen L. Sheets CC: none From: Charles D. Crossfield, Stephan L. Sheets & Associates, P.C. Date: July 11, 1994 Subject: Gattis School Road Condemnations Update Parcel No. 1 - Doyle and Evelyn Nickerson Status: Old appraisal (including temporary easement) - $5,512 New appraisal (including temporary easement)- $8,100 Difference = $2,588 Parcel No. 9 - Alborz Corp. Status: Old appraisal (including temporary easement) - $1,789 New appraisal (including temporary easement)- $3,185 Difference = $1,396 (Note- Alborz Corp. will dedicate right -of -way) Parcels No. 12 & 13 - Jeff and Susan Rusk Status: Parcel 12 Old appraisal (excluding temporary easement) - $453 New appraisal (excluding temporary easement)- $744 Difference = $291 Parcel 13 Old appraisal (excluding temporary easement) - $10,499 New appraisal (excluding temporary easement)- $20,980 Difference = $10,481 Parcels No. 14 & 15 - J. Lawrence Berkman Status: Parcel 14 Old appraisal (including temporary easement) - $7,403 New appraisal (including temporary easement)- $11,882 Difference = $4479 Parcel 15 Old appraisal (including temporary easement) - $7,679 New appraisal (including temporary easement)- $12,324 Difference = $4,645 TOTAL DIFFERENCE = $23,880 2 0L►•D MI SAC- f{_cKERSw. 14 of the subject, Parcel One parent site and part taken, is rounded to $8,200 per acre. In our opinion the taking will not result in any damage to the remainder, therefore both the parent site and the part taken are the same value per acre and are calculated below. Total Compensation Calculations: Value of the Whole: 48.7234 ACRES x $8,200 /ACRE = $399,532 Value of the Part Taken: 0.635 -ACRE x $8,200 /ACRE = $5,207 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement: 0.619 - ACRE x $8,200 /ACRE x 1% /MONTH x 6 MONTHS , 7 $305 TOTAL COMPENSATION PARCEL ONE: $5,207 + $305 = $5,512 GARDNER APPRAISAL GROUP, INC. REAL ESTATE APPRAISERS AND CONSULTANTS 4314 Medical Parkway, Suite 300, Austin, Texas 78756 (512) 458 -6294 June 23,1994 Mr. Steve Sheets Sheets & Associates 309 East Main St. Round Rock, Texas 78664 RE: Gattis School Road Widening Project Dear Steve: I have reviewed the most recent market data transactions that have occurred in the area of Gattis School Road in Round Rock. As a result, I have found a number of transactions of which I was not formerly aware. After considering these transactions I would respectfully like to make revisions to the Hickerson, Rusk and Berkman properties which are as follows: DOYLE HICKERSON - 7 - , 6 - 00 ' rgA's Total Compensation Calculations: Value of the Whole: 48.7234 Acres x 12,000 /Acre = $584,680 Value of the Part Taken: 0.635 Acre x 12,000 /Acre = $7,620 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement: 0.619 Acre x 12,000 /Acre x 1% /Month x 6 /Months = $446 TOTAL COMPENSATION DOYLE HICRERSON: $6,160 x $446 = $8,066 Rounded to $8,100 GARDNER APPRAISAL GROUP, INC. REAL ESTATE APPRAISERS AND CONSULTANTS 4314 Medical Parkway, Suite 300, Austin, Texas 78756 (512) 458 -6294 June 29, 1994 Mr. Steve Sheets Sheets & Associates 309 East Main St. Round Rock, Texas 78664 RE: Gattis School Road Widening Project Dear Steve: I have reviewed the most recent market data transactions that have occurred in the area of Gattis School Road in Round Rock. As a result, I have found a number of transactions of which I was not formerly aware. After considering these transactions I would respectfully like to make revisions to the Alborz property which is as follows: Parcel No. 9 NEw / egai IS/-C— Owner: Alborz Corp. (Michael Hassibi, 346 -5754, and Austin Custom Home Builders Joint Venture) Total Compensation Calculations: Value of Whole (See Sale Number A -8) 105.238 Acres x $13,000 = $1,368,094 Value of Part Taken: 0.216 Acres x $13,000 = $2,808 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement: 0.483 Acre x $13,000 /Acre x 1% /Month x 6 Months = $377 TOTAL COMPENSATION PARCEL NINE: $2,808 + $377 = $3,185 Yours truly, OMAS R. DNER, MAI QLTJ APPRitISFtC- ALrbo Z SUMMARY 91 The five sales adjusted above range in value from $6,673 per acre to $8,951 per acre, indicating a fairly tight range of value indications. The mean of the sales is $7,507 per acre and the median is $7,440 per acre. Sales 1 and 2 appear to be the most comparable and required the least number of adjustments (1), the mean of which is approximately $7,057 per acre. These sales are the most comparable to the subject; however some emphasis is being given all sales in our analysis since both indications are similar. Based on the available data, the estimated Market Value of the subject, Parcel Nine parent site and part taken, is rounded to $7,300 per acre. In our opinion the taking will not result in any damage to the remainder, therefore both the parent site and the part taken are the same value per acre and are calculated below. Total Compensation Calculations: Value of the Whole: 68.293 ACRES x $7,300 /ACRE = $498,539 Value of the Part Taken: 0.216 -ACRE x $7,300 /ACRE = $1,577 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement: 0.483 -ACRE x $7,300 /ACRE x 1% /MONTH x 6 MONTHS = $212 TOTAL COMPENSATION PARCEL NINE: $1,577 + $212 = $1,789 JEFF E. RUSK —uEw APPRA(sn- Total Compensation Calculations: Value of the Whole: 60.8766 Acres x 12,000 /Acre = $730,519 Value of the Part Taken: 0.062 Acre x 12,000 /Acre $744 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement: 0.034 Acre x 12,000 /Acre x 1% /Month x 6 /Months = $25 TOTAL COMPENSATION JEFF E. RUSK: $744 X $25 = $769 Rounded to $770 JEFF E. RUSK Total Compensation Calculations: Value of the Whole: 135.78535 Acres x 13,000 /Acre = Value of the Part Taken (Tract 1): 1.419 Acre x 13,000 /Acre = Value of the Part Taken (Tract 2): 0.148 Acre x 13,000 /Acre = Total Value of the Part Taken: 1.567 Acre x 13,000 /Acre = $1,765,210 $18,447 $1,924 $20,371 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement 0.779 Acre x 13,000 /Acre x Month x 6 Months = $608 TOTAL COMPENSATION PARCEL THIRTEEN: $20,371 x $608 = $20,979 Rounded to $20,980 OLP APP� K,u s K SUMMARY Total Compensation Calculations: Value of the Whole: 60.8766 ACRES x $7,300 /ACRE = $444,399 Value of the Part Taken: 0.062 -ACRE x $7,300 /ACRE = $453 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: 118 The five sales adjusted above range in value from $6,624 per acre to $8,184 per acre, indicating a fairly tight range of value indications. The mean of the sales is $7,348 per acre and the median is $7,063 per acre. Sales 1 and 3 appear to be the most comparable and required the least number of adjustments (2), the mean of which is approximately $7,404 per acre. These sales are the most comparable to the subject; however some emphasis is being given all sales in our analysis since both indications are similar. Based on the available data, the estimated Market Value of the subject, Parcel Twelve parent site and part taken, is rounded to $7,300 per acre. In our opinion the taking will not result in any damage to the remainder, therefore both the parent site and the part taken are the same value per acre and are calculated below. Value of the Temporary Easement: 0.034 -ACRE x $7,300 /ACRE x 1% /MONTH x 6 MONTHS = $15 TOTAL COMPENSATION PARCEL TWELVE: $453 + $15 = $468 p Lp p, peAAt5R L KV s SPRY 128 The five sales adjusted above range in value from $6,117 per acre to $7,084 per acre, indicating a fairly tight range of value indications. The mean of the sales is $6,733 per acre and the median is $6,924 per acre. Sales 1, 3 and 5 appear to be the most comparable and required the least number of adjustments (1 -2), the mean of which is approximately $6,594 per acre. These sales are the most comparable to the subject; however some emphasis is being given all sales in our analysis since both indications are similar. Based on the available data, the estimated Market Value of the subject, Parcel Thirteen parent site and part taken, is rounded to $6,700 per acre. In our opinion the taking will not result in any damage to the remainder, therefore both the parent site and the part taken are the same value per acre and are calculated below. Total Compensation Calculations: Value of the Whole: 135.78535 ACRES x $6,700 /ACRE = $909,548 Value of the Part Taken (Tract 1): 1.419 -ACRE x $6,700 /ACRE = $9,507 Value of the Part Taken (Tract 2): 0.148 -ACRE x $6,700 /ACRE = $992 TOTAL Value of the Part Taken: 1.567 -ACRE x $6,700 /ACRE = $10,499 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement: 0.779 -ACRE x $6,700 /ACRE x 1% /MONTH x 6 MONTHS = $313 TOTAL COMPENSATION PARCEL THIRTEEN: $10,499 + $313 = $10,812 J. LAWRENCE BERRMAN ,RPPAP I CA" ( — Total Compensation Calculations: Value of the Whole: 76.5 Acres x $13,000 /Acre $994,500 Value of the Part Taken (Tract 1): 0.914 Acre x $13,000 /Acre = $11,882 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement: 0.777 Acre x $13,000 /Acre x 1% /Month x 6 /Months = $606 TOTAL COMPENSATION TRACT ONE: $11,882 X $606 = $12,488 ' Rounded to $12,500 Value of the Part Taken (Tract 2): 0.948 Acre x $13,000 /Acre = $12,324 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement: 0.68 Acre x $13,000 /Acre x 1% /Month x 6 /Months = $530 Also considered for parcel 15 is the loss of several large trees which lie within the temporary easement. It is our opinion that the value of the land to be used temporarily may be reduced by approximately $1,000 due to the possible loss of several large trees during the use of the temporary easement. TOTAL COMPENSATION TRACT TWO: $12,324 + $530 = $1,000 = $13,854 Rounded to $13,850 The additional supporting Market Data will be forwarded to your office as soon as I have had an opportunity to print it in final form. Sincerely THOMAS R. GARDNER, MAI OLD Pc PP Mts PI- C. 5 el-Kiktitt median is $8,184 per acre. Sales 1 and 3 appear to be the most comparable and required the least number of adjustments (2), the mean of which is approximately $8,140 per acre. These sales are the most comparable to the subject; however some emphasis is being given all sales in our analysis since both indications are similar. Based on the available data, the estimated Market Value of the subject, Parcel Fourteen and Fifteen parent site and part taken, is rounded to $8,100 per acre. In our opinion the taking will not result in any damage to the remainder, therefore both the parent site and the part taken are the same value per acre and are calculated below. Total Compensation Calculations: Value of the Whole: 76.5 ACRES x $8,100 /ACRE = $619,650 Value of the Part Taken (Tract 1): 0.914 -ACRE x $8,100 /ACRE = $7,403 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement: 0.777 -ACRE x $8,100 /ACRE x 1% /MONTH x 6 MONTHS = $378 TOTAL COMPENSATION PARCEL FOURTEEN: $7,403 + $378 = $7,781 Value of the Part Taken (Tract 2): 138 0.948 - ACRE x $8,100 /ACRE = $7,679 In addition we have calculated the value attributable to leasing the temporary easement for six months based on the value per acre of the whole times 1 percent per month, or as follows: Value of the Temporary Easement: 0.68 -ACRE x $8,100 /ACRE x 1% /MONTH x 6 MONTHS = $330 Also considered for parcel 15 is the loss of several large trees, which lie within the temporary easement. It is our opinion that the value of the land to be used temporarily may be reduced by approximately $1,000 due to the possible loss of several large trees during the use of the temporary easement. TOTAL COMPENSATION PARCEL FIFTEEN: $7,679 + $330 + $1,000 = $9,009 DATE: July 12, 1994 SUBJECT: City Council Meeting, July 14, 1994 ITEM: 9.E. Consider a resolution authorizing offers for the purchase of Gattis School Road right -of- way based on the revised appraisals. STAFF RESOURCE PERSON: Steve Sheets /Jim Nuse STAFF RECOMMENDATION: Staff recommends that the Council approve the resolution authorizing new offers based on the revised appraisals. As discussed at the last Council meeting, the City's appraiser was requested to review his appraisals on the Gattis School right - of -way project to determine if revisions were justified by recent sales activity in the area. As a result, of this review, the appraiser did revise his appraisals and all of the remaining landowners have tentatively agreed to accept the amount shown on the revised appraisals. If the Council agrees to revise the offers, we should be able to finalize the right -of -way acquisition within a week or ten days.