Attachment “A”

 

Appraisals Recommended By ACE Appraisal Review Committee:

 

ACE Properties for Round 4, Class of Year 2003-04 (Pape & Company Appraisals - August, 2005)

 

Applicant                     Appraised FMV                        Easement Value           Easement Purchase Price

 

Page                             $2,906,500.00                            $    450,000.00                       $   450,000.00  

Bieker                           $   590,000.00                           $    429,000.00                        $   161,000.00

 

Hill                                $1,085,000.00                            $    825,000.00                        $   260,000.00

 

Shifflett                         $   616,000.00                           $    462,000.00                          $   154,000.00

Total Easement Value                                                                                                   $1,025,000.00

                                                                       

 

Appraised FMV” (Fair Market Value) is the appraised fair market value of the property before the easement.

Easement Value” is the total Appraised FMV after the easement is applied

“Easement Purchase Price” is calculated by multiplying the easement value by the applicable percentage of appraised value

(based upon average annual adjusted gross income), as provided in ACE Ordinance § A.1-111.

 

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