20-05 Ordinance RECORD OF ORDINANCES
Dayton Legal Blank, Inc. Form No. 30043
20-05 passed . 20
Ordinance No.
AN ORDINANCE AMENDING CHAPTER 53 OF THE DUBLIN
CODIFIED ORDINANCES, SECTION 152.086(C)(6)
E
UPDATING THE ESTIMATED AVERAGE PER ACRE VALU
OF LAND FOR PARK FEES IN LIEU OF LAND DEDICATION
"2.086 C 6 of the Dublin Codified Ordinances requires
WHEREAS, Section 15 ( )
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
mendin an avera e
a and is recom
blin are 9
~ within the Du g
nd transactions
raw la
suggested price per acre in order to establish the base for the payment of the
ark fee in lieu of a land dedication;
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NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Dublin,
cted members concurrin
State of Ohio, of the ele 9
Section 1. That the report of the Continental Appraisal Company is hereby
acce ted, estimating per acre value for raw land at $41,500.00 within the City of
P
Cha ter 53 Section
rovisions of ,
Dublin, Ohio for use pursuant to the p p
152.086(C)(6) of the Dublin Codified Ordinances. li
Section 2. That this estimated value per acre shall be applicable for a period li
of this ordinance.
of two (2) years, commencing with the effective date
Section 3. That this ordinance shall be effective at the earliest date permitted
b law.
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Passed this da of ~ , 2005.
Y
. G~i~~
Mayor -Presiding Officer
ATTEST:
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Clerk of Council
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of this
hat co ies
I hereby certify t p i
'n they
nce/Resolution were osted i
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City of Dublin in accordance with Section'
731.25 of the Ohio Revised Code.
De Clerk of Council, Dublin, Ohio i
Parks & Open Space
6555 Shier Rings Road, Dublin, Ohio 43016-8716
Phone: 614-410-4700 * Fax: 614-761-6512
CITY OF DUBLIlV Memo
TO: Members of the Dublin City Council
FROM: Jane S. Brantigam, City Manager $ . (1ja,~,,,J
DATE: March 1, 2005 UU
INITIATED BY: Fred Hahn, I?irector of Parks & Open Space
RE: Park Land Fees - 2005 & 2006
Si;fNIlVIARY:
Attached you will find the summary letter from Continental Appraisal Company that details the
recommended Pazk Land fee for the years 2005 & 2006. 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 $41,500.00 per acre. The current value is
$39,500.00. 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. 20-05, revising the raw land value to $41,500.00.
Continental Appraisal Company INDIVIDUAL MEMBERSHIPS:
REAL ESTATE CONSULTANTS & APPRAISERS APPRAISAI.INSTITUTE
AMERICAN SOCIL-'TY OF REAL ESTATE
1111 Schrock Road -Ste 202 CouNSELOUs
Columbus, Ohio 43229 INTERNATIONAL RIGHT-OF-WAY
ASSOCIATION
Phone (614) 436-0200 NATIONAL ASSOCIATION OF REALTORS
OHIO ASSOCIATION OF REALTORS
FRR (b14) 436-0215 COLUMBUS BOARD OF REALTORS
February 4, 2005
Mr. Fred Hahn
Director of Grounds Facilities
City of Dublin
6555 Shier Rings Road
Dublin, OH 43016
RE: Suggested price per acre of raw land
Park fees in lieu of land dedication
Time period - 2005 & 2006
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 (2005-2006) 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, by a developer.
In my review of the City Ordinance, it is my conclusion that the base acre value should be
premised on the analysis of transactions of raw residential development land. The zoning
classifications of the market data used in this analysis include R, R-1, Rl -B, PLR, and PUD.
Properties with these zoning classifications consist ofsingle-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 der acre of raw development land for the succeeding two years (2005-2006),
from the date of this report, be established as:
FOURTY ONE THOUSAND FIVE HUNDRED DOLLARS PER ACRE
(41,500 / AcxE)
This unit value estimate represents an average unit value for single-family residential
development land for the entire City of Dublin, to beused 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,
ContinE~ntal Appraisal mpany
T
r
s
John . G ~ I
State ertified G n pr 'ser #381572