HomeMy WebLinkAboutA001 - Memo dated August 12, 1997 from Municipal Engineer to Planning Director cost of vacation a/13/97 WED 15:00 FA21 515 239 5261 CITY OF AaES 1N5YEG11uiv� �vU-
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Memo
Public Works Department
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TO: Brian O'Connell, Planning & Housing Director
FROM: Jerry Byg, Municipal Engineer
DATE: August 12, 1997
SUBJECT: Mayfair Building Addition - alley vacation
The vacation and sale of the City alley to Frank Rankin would be based on the valuation
of the Mayfair property north of the alley and the Mace Rich property south of the alley.
The Rankin property is assessed at $8.86/s.f. and the Mace Rich property is assessed at
$3.23/s.f. This creates an average cost of $6,04/s.f. The area of the alley to be sold to
Rankin is 3,600 s.f, and has a value of $21,744. This value is reduced by 15% For the
City retaiiiing an easement and by an additional 10% for the City providing a quit claim
deed. This adjusts the selling price of the alley adjacent to Rankin to $16,308.00.
In addition, Mr. Rankin would be expected to reimburse the cost of relocating the
electric line ($24,730) and gas main since he intends to build on the alley. This is the
same as would be required on any nonnal site development where the developer is
expanding or rebuilding a structure on his site.
cc: Paul D. Wiegand, Public Works Director
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