121-98 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.
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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.
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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
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