45-03 Ordinance RECORD OF ORDINANCES
Dayton Legal Blank, Inc. Form No. 30043
Ordinance No. 45-03 Passed 20
AN ORDINANCE UPDATING THE ESTIMATED AVERAGE PER ACRE
VALUE OF LAND FOR PARK FEES IN LIEU OF LAND DEDICATION, AND ~
AMENDING SECTION 152.086(C)(6)
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 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, THEREFORE 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 $39,500.00 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 a~day of ~ , 2003.
Mayor -Presiding Officer
ATTEST: i
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Clerk of Council
I
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I hereby certify that copies of thi~
Ordinance/Resolution were posted in th
City of Dublin in accordance with Sectio
731.25 of the Ohio Revised Code.
i
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I!, , Cle of Council, Dublin, Ohio
II
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Office of the City Manager
5200 Emerald Parkway, Dublin, Ohio 43017-1006
Phone: 614-410-4400 =Fax: 614-410-4490 M e m o
CITI OF DUBLIN
TO: Members of the Dublin City Council
FROM: Jane S. Brautigam, City Manager~~,w '
DATE: April 1, 2003
INITIATED BY: Fred Hahn, Director of Grounds & Facilities
RE: Park Land Fees - 2003 & 2004
SUMMARY:
Attached you will find the summary letter from Continental Appraisal Company that details the
recommended Park Land fee for the years 2003 & 2004. The establishment of this fee is
detailed under Section 152.086, Part C of the Subdivision Regulations for the City of Dublin,
which stipulates that:
"Estimate average value of land per acre shall be estimated every two years by
resolution of Council based upon the recommendation of a qualified land appraiser
retained by the village to research recent real estate transactions and provide Council
with a suggested price per acre for raw land within the city."
The suggested raw land value found in this report is $39,500.00 per acre. The current value is
$38,500.00. This value, once approved, will be used by the City when it is determined that
money in lieu of land for parkland donation is in the best interest of the City.
RECOMMENDATION:
Staff has reviewed the appraisal document and found it to be complete and in order and is
recommending adoption of Ordinance no. 45-03, revising the raw land value to $39,500.00.
Con~lllental Appraisal Company INpIV1DUAl1AEM3EASs71P5
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Columbus, O11tO 'lJG I c7 NATIONAL ASSOCIATION OF REACTORS
OHIO A$$OCIAiION OF REACTORS
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FAX (6!4) 2?1.976? COCUMBU$ BOARS OF REACTORS
March 25, 2003
Mr. Fred Hahn
Director of Grounds Facilities
City of Dublin
6555 Shier Rings Road
Dublin, OH 43016-1236
RE: Suggested price per acre of raw land
Park fees in lieu of land dedication
Time period - 2003 & 2004
Dear Mr. Hahn:
In accord with your request, I have completed an investigation and analysis of the Dublin
market, regarding raw development land transactions. These data have been used to
establish an average suggested price per acre for raw residential development land that is
to be applicable for the two year time period (2003-2004) succeeding 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.
In my review of the City'Ordinance, it is my 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. Properties with these zoning classifications consist of single-family residential
development land and provide the lowest base unit. The proposed density of development
is adjusted for in the formula for the park fee.
Based on 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 (2003-
2004}, from the date of this report, be established as:
T~rrY NINE THOUSAND I1YE HUxnxED {39,500) DOLLARS
This value estimate represents an average unit value for single-family residential
development land for the City of Dublin, to be used in the calculation for the payment of a
park fee in lieu of parkland dedication, by the developer. It should not be construed as an
appraisal of any individual acre located within the City or used for valuation purposes,
other than 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.
I certify that I have no present nor contemplated future interest as it would relate to park
land property and that my 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,
Continental Appraisal C pony
Joh Garvin, MAI _
Stat Certi i ser #381572