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HomeMy WebLinkAbout121-98 OrdinanceRECORD OF ORDINANCES Dayton Legal Blank Co. Form No. 30043 121-98 Ordinance No.------- ---------------- Passed------ ---------19-- -- - AN ORDINANCE UPDATING THE ESTIMATED AVERAGE PER ACRE VALUE OF LAND FOR PARK FEES IN LIEU OF LAND DEDICATION WHEREAS, Section 152.086(C)(6) of the Dublin Codified Ordinances requires that an estimated average value of land per acre shall be established by Council based on the recommendation of a qualified land appraiser; WHEREAS, the Continental Appraisal Company has completed their update of raw land transactions within the Dublin area since August, 1994, and is recommending an average suggested price per acre in order to establish the base for the payment of the park fee in lieu of a land dedication. NOW, WHEREFORE BE IT ORDAINED by the Council of the City of Dublin, State of Ohio, ~ of the elected members concurring: Section 1. That the report of the Continental Appraisal Company is hereby accepted, estimating per acre value for raw land at $37,500.00 within the City of Dublin, Ohio for use pursuant to the provisions of Section 152.086(C)(6) of the Dublin Codified Ordinances. Section 2. That this estimated value per acre shall be applicable for a period of two (2) years, commencing with the effective date of this ordinance. Section 3. That this ordinance shall be effective at the earliest date permitted by law. Passed this ~~ day of ~Ceinb-t.~, 1998. - Presiding Officer ATTEST: ~ ~- Clerk of Council 16ere6y certify that copies of this 0"linance~'Resotution were posted in tfie City of Dublin in accordance with Section 731.25 of the Ohio Revised Code. ~~5~ erlt f Council, Dublin, Ohio CITY OF DUBLIN M e m o `' ~ Division of Grounds & Facilities ~' 5800 Shier-Rings Road Dublin, Ohio 43016 Phone: 614-761-6516 Faz: 614-761-6589 To: Mayor Chuck Kranstuber and Dublin City Council Members From: Tim Hansley, City Manager Re: Parkland Appraisal Date: November 10, 1998 Initiated by: Fred Hahn, Director of Grounds & Facilities Every two years, in adherence to Chapter 152, Section 152.086 of the Codified Ordinance of the City of Dublin, Ohio, we are required to update the price per acre of raw land within the City by Ordinance. The use of fees collected will be used solely for the acquisition of recreational facility sites, open space and/or parkland. This value is used in accordance to the Open Space Ordinance when it is decided that money will be received in lieu of land. This appraisal has been completed with the summary attached. Due to the proposed effective date of January 1, 1999, we are requesting that the legislative action. be initiated at the November 16, 1998 Council Meeting. Attached, please find the Ordinance that will serve as the mechanism to initiate the revised appraised value. It should be noted that the revised figure is $500.00 per acre higher than the current figure. :mm~g:lpklnd$.wpd Continental Appraisal CompanyT REAL ESTATE CONSULTANTS £~ APPRAISERS 50 ~~"EST BROAD STREET Colllm~bus, ~hio 43215 (614) 221-5173 FA?~ (614) 22!-9362 INDIVIDUAL MEMBERSHIPS APPRAISAL IPISTITUTE AMERICAN SOCIETY OF REAL ESTATE COUNSELORS INTERNATIONAL RIGHT-OF-WAY ASSOCIATION NATIONAL ASSOCIATION OF REALTORS OHIO ASSOCIATION OF REALTORS COLUMBUS BOARD OF REALTORS May 26, 1998 Mr. Fred Hahn Duector of Grounds Facilities City of Dublin 5800 Shier Rings .Road Dublin, OH 43016 RE: Suggested Price Per Acre of Raw Land Dear Mr. Hahn: ~,,, In accord with your request, we have completed an investigation of the raw land transactions within the Dublin area to establish an average suggested price per acre for Yarn raw residential development land to be applicable for the succeeding two .years (1999- ' 2000), from the date of this report. The purpose of this suggested unit land value is to establish the base for the payment of the park fee in lieu of a land dedication. I i -~ 1~1 I 11 I I 11 I~I I I-I As a part of our investigation and review of the City Ordinance, it is our conclusion the base acre value should be premised on the transaction of raw residential development land. The zoning classifications of the market data used in this analysis include: R, R-1, R1-B, PLR, and PUD. The transactions with these zoning classifications are single family residential development land which provides the lowest base unit. The proposed density of development is adjusted for in the formula for the park fee. AFFILIATE OFFICE ~'ALLtATIO\ I~E'I'~~'ORh. I\C. A NATIONWIDE CONSORTIUM OF APPRAISAL AND CONSULTING FIRMS Based on this market investigation and the conclusions set forth in the following report, it is our recommendation that the average price per acre of raw development land for the succeeding two years (1999-2000) from the date of this report be established as: T~t~t Six TxovsAtvn F1vE HtnvnxEn (37,500) Doii,axs This value conclusion has been prepared as an average unit .value for the City of Dublin ~"" for the payment of a park fee in lieu of park land dedication. It should not be construed as an appraisal of any individual acre located within the City or used for valuation ,~ purposes, other than for the stated purpose of this report. This report has been prepared in accord with the basic valuation principles and regulations of the appraisal institute and USPAP. We certify that we have no present nor contemplated future interest as it would relate to park land property and that our compensation is not contingent upon the result of this reported average unit value estimate. Thank you for the privilege of serving you in this matter. Respectfully submitted, ontirjental f~~,s~l Company John R. Garvin, MAGI=CRE State Certified General Appraiser #381571 ~~ // ~` f John~~ Garvin ~ i ~ State; Certified General Appraiser #381572 ~'"