Laserfiche WebLink
9786-1 15 <br /> <br />BEFORE VALUE <br /> <br />Highest And Best Use <br />Land As Vacant <br />The highest and best use of the land, as vacant, is for unserved development of industrial <br />uses on the westerly 39_+ acres and unserved residential development on the easterly <br />40_+ acres. <br /> <br />o <br /> <br />Legally Permissible: <br />Continued agricultural use, industrial development on the westerly <br />portion and rural residential development on the easterly portion are all <br />legally permissible. <br /> <br />Physically Possible: <br />Continued agriculture use, industrial development on the westerly <br />portion and residential development on the easterly portion are all <br />physically possible. The land does include the following physical <br />impediments to development. <br /> <br />a. Limited road access, which will require extensive road construction <br /> for development. <br /> <br />Low lands, slopes and a drainage ditch on the northerly edge of the <br />land parcel.' These areas are located primarily in the easterly R-la <br />zoned portion of the site and provide some view amenity. <br /> <br />Financial ly Feasible: <br />The potential for sewer and water availability in the future requires that <br />we consider the financial feasibility of holding the property for future <br />development. In this case, only the subject's industrial land is in the <br />urban service area and this land must be crossed with a road in order to <br />access the R-la land. <br /> <br />There is sufficient demand to develop the subject's R-la land with 2.5 <br />acre lots. In addition, the industrially zoned land has more value as <br />industrial lots than agricultural land. Long term holding of the industrial <br />land in order to develop lots served with sewer and water is also <br />financially feasible. Currently municipal sewer and water are not <br />available, these City improvements are still in the planning stages. Thus <br />industrial development with sewer and water is a speculative use at this <br />point in time. <br /> <br />Maximally Productive: <br />Near term development of the land consistent with its zoning is the <br />maximally productive use of the land. This development would include <br />unserved industrial lots on the westerly portion and unserved rural <br />residential lots on the east. <br /> <br />Patchin & Associates, Inc. <br /> <br />Valuation Consultants <br /> <br /> <br />