005-89 Ordinance
RECORD OF ORDINANCES
National Graphics Corp., Cols.. O. ~ Form No. 2806-A
Ordinance No. nn()5___l\9_mm P assed__m_mn nm__ ______nnn______ _nn ___19_______
AN ORDINANCE TO ESTABLISH AN
ESTIMATED AVERAGE VALUE OF LAND
PER ACRE FOR PARK FEES IN LIEU
OF LAND DEDICATION AS REQUIRED
IN THE CITY OF DUBLIN, OHIO
CODIFIED ORDINANCES, SECTION
1109.02(c), AND TO AMEND SAID
SECTION
WHEREAS, Chapter 1109.02 of the City of Dublin Codified Ordinances
requires that "an estimated average value of land per acre shall be
established every two years by an Ordinance of Council based on the
recommendation of a qualified land appraiser";and,
WHEREAS, the Continental Appraisal Company, qualified Real Estate
Consultants and Appraisers, have made a study and are recommending an
estimated average value of land per acre in the City of Dublin, Ohio;
NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Dublin,
State of Ohio, 7 of the elected members concurring:
Section 1. That the estimated value per acre for raw land within the
City of Dubl in, Ohio of Twenty Nine Thousand ($29,000.00) Dollars, as
determined by the Continental Appraisal Company be, and hereby is,
accepted.
Section 2. That said 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 take effect and be in force from
and after the earliest period allowed by law.
Passed this 21st day of February , 1989.
Xi~
Attest:
0faJlU~' '7/). 'tlJ~ChJ
Clerk of Coum'cil
l
1 ~ereby certify that copies of this Ordinance/Resolution were Ifosted in the
City of Dublin in accordance with Section 731.25 of the 8hio Revised Code.
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--:'J/tfhitAk,7 Vl J. tl,~/~'1-,,-j
Clerk of Ceuncil, Dublin, Ohio
M E M 0
TO: City Council Members
FROM: Tim Hansley, City Manager//
DATE: January 12, 1989
RE: Value of Land for Park Fee
Report originated by Janet Jordan, Parks & Recreation,
Director
Section 1109.02 ( c ) (Park Fee) of the Codified Ordinance states
that raw land values shall be established by Council every two
years. The value shall be based upon the recommendation of a
qualified land appraiser.
This section of the code is generally applied only when the land
dedication requirement of a subdivision is so small it is not
deemed desirable for acquisition by the City.
The Continental Appraisal Company was contracted to conduct the
appraisal study. They have recommended an increased value of
$29,000.00 per acre. This firm conducted the first appraisal
study in the Fall of 1986. Their recommended valuation at that
time was $20,000.00 per acre.
This report contains the study summary. Complete reports are
available for your review in the Parks & Recreation office.
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I Continental ~praisa1 Company
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I PARK LANDS
Recommended Unit Price
I In Lieu of Donation
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I FOR:
Ms. Janet Jordan
I Parks & Recreation Department
City of Dublin
6665 Coffman Road
I Dublin, OH 43017
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I AS OF:
December 22, 1988
PREPARED BY:
CONTINENTAL APPRAISAL COMPANY
Regional Office: Valuation Network, Inc.
50 West Broad Street, Suite 1303
Columbus, Ohio 43215
Columbus, Ohio
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I Continental Appraisal Company INDIVIDUAL MEMBERSHIPS
AMERICAN INSTITUTE OF REAL ESTATE APPRAISERS
I REAL ESTATE CONSULTANTS & APPRAISERS
AMERICAN RIGt-iT OF WAY ASSOCIATION
50 WEST llHOAD STHEET
Columbus. Ohio 43215 N"'TlONAL ASSOCIATION OF REAL ESTATE BOARDS
I OHIO ASSOCIATION OF REAL ESTATE BOARDS
614/22\ - 5\,:3 COL~JMBUS BOARD OF REAL TORS
I
I December 22, 1988
I Ms. Janet Jordan, Director
Parks and Recreation Department
City of Dublin
I 6665 Coffman Road
Dublin, Ohio 43017
I RE: Suggested Price/Acre
for Raw Land
Dear Ms. Jordan:
I In accord with your request, we have completed an
investigation of the raw land transactions within the City to
I establish a suggested price per acre for raw land for development
purposes which will be applicable for the succeeding two years.
(1989-90) from the date of this repor t. The purpose of this per
I acre unit land value is to establish the base for the payment of
a park fee in lieu of a land dedication.
As a part of our investigation and review of the City
I Ordinance, it is our conclusion that the base acre value should
be premised on single family residential transactions, either in
the R-1 Classification or in the PUD/SR classification. This
I would be the lowest base unit. Density differentials are
adjusted for by the density formula.
I Based on the investigation and the conclusions set' forth in
the following report, it is our recommendation that the price per
acre for raw land for the succeeding two years (1989-90) from the
date of this report be established as:
I TWENTY-NINE THOUSAND ($29,000) DOLLARS/ACRE
,
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I REGIONAL OFFICE: VALUATION NETWORK. INC.
Continental ,ApPrazSal Company
Ms. Janet Jordan
Page Two
This value conclusion has been prepared as an average unit
value for the City 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 for a valuation
purpose other than for the state purpose of this report.
This report has been prepared in accord with the basic
valuation principles and regulations of the American Institute of
Real Estate Appraisers.
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
valuation.
Thank you for the privilege of serving you in this matter.
Res ectfully submitted,
/
( . CO TIN~Tr~tSAL COMPANY
'____; ..v\.' ~c.-1...~
. John R. Ga vin, AI-CRE
presid~nt .....
Columbus, Ohio
Continental ~p~al Company
STATEMENT OF THE PROBLEM AND METHODOLOGY
The problem as identified for this report are the
requirements set forth under Ordinance 1109.02, as amended,
Section C, Item No.6 - under Park Fee, th at the C i t Y 0 f Dub 1 i n
is required as follows:
"the estimated average value of land per acre
shall be established every two years by resolution
of Council based upon the recommenda t i on of a
qualified land appraiser retained by the City to
research. recent real estate transactions and
provide Council with a suggested price per acre
for raw land within the City."
,
In accordance with this Ordinance, the purpose of thi s
report is to assemble the land transactions which have occurred
over the preceding two year period, 1987 and 1988, to date, and
from this data to establish an updated average price per acre for
raw land within the City of Dublin.
Methodology: The methodology applicable to this analysis and the
approach assumed by the appraiser in this report has been the
assemblage of the pertinent land sales throughout the City area
and the analysis of these sales to establish the average raw
acreage land price within the City. A number of factors on which
this analysis is premised must be considered.
{l} Tracts of varying sizes have been considered and are
included in the overall analys i s.
{2} The controlling zoning classification has been either R-l
or PUD-SR.
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Columbus, Ohio
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Continentnl A>Praisal Company
{3} The location of the sales have been in Tax District 273-
Dublin Corporation, Washington Township; 215-Dublin
Corporation, Perry Township; and 270-Washington Township,
adjacent to the Dublin Corporation Li ne.
{4} The sales utilized in this report are classified as single
family residential development land. No multi-family
transactions have been included in this report due to the
fact that the formula used to calculate the park fee has an
adjustment factor built into it which adjusts for the total
number of d we 11 i ng uni ts. This adjustment factor is found
under Ordinance 1109.02, Section C, Items 3 and 4-under
park fee.
{ 5} Adjustments: Ten of the fourteen sales utilized in this
report required some adjustment for time. No other
adjustments were made.
{6 } For the purpose of this analysis, the City of Dublin has
been divided into five zones which i nc 1 ude:
a) Northwest area
b) Northeast area
c) Central area
d) Southeast area
e) Southwest area
With the methodology stated, the following analysis applies
to the final conclusion as developed in this report and stated in
the letter of transmi ttal.
Columbus, Ohio
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Continental ~praisa1 Company
ANALYSIS OF THE DATA
In a following section of this report entitled "Market
Analysis", 15 sales are presented. A large group of raw, single
family residential development land sales have been reviewed with
some disregard due to circumstances that appear to eliminate them
as arm's length transactions. The sales used in this analysis
were confined in their location to one of three taxing districts
including Tax District 273-Dublin Corporation, Washington
Township; Tax District 215-Dublin Corporation, Perry Township;
and Tax District 270-Washington Township, where sales were
adjacent to the Dublin Corporation Line.
For the purpose of this analysis, the City of Dublin has
been divided into five zones which include northeast, northwest,
central southeast, and southwest. A map of these zones is
provided on the following facing page.
The sales located in the Northeast area are located east of
the Scioto River, west of Sawmill Road, and north of 1-270. This
area is a pa r t 0 f the incorporated area of the City of Dublin.
To date, the residential development in the Sawmill Road area
that is north of 1-270 occurs on the east side of Sawmill Road.
There is commercial development around the Sawmill Road/I-270
interchange. The properties east of Sawmill Road are located in
the city of Columbus, Worthington School District. This area
has been heavily developed with single fam i ly and multi-family
residential properties as well as supporting neighborhood and
community retail commercial.
The properties located on the west side of Sa wm i 11 Road, in
the previously described area, remain as vacant land at the
present time. These properties have been restricted by the
availability of sanitary sewer. This has impacted immediate
development potential, although proposed trunk line extensions
Columbus, Ohio
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CITY OF
DUBLIN, OHIO
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are projected for the time frame of 1989-1990. It is anticipated
that when sanitary sewer is available in the northeast area of
the incorporated area of the City of Dublin, this will be an area
of high residential growth.
The sales in the northwest area are located west of the
Scioto River, north and west of 1-270, and north of Route 33.
This currently is the largest and highest residential growth area
within the corporate limits of Dublin. There are two main areas
of residential development in this described area. The first
area is located at the northern boundary of the Dubl in Corporate
area. This area, Muirfield Village, is bound on the east by
Dublin Road, on the west by Avery Road.
The second area, and the most active area of residential
development, is located south of Muirfield, bound on the north by
Brand Road, on the south by Post Road, on the west by Avery Road,
and on the east by Coffman Road. This area has utilities
available or within reasonable proximity for extension to the
majority of properties located in the developing areas of the
northwest area of Dublin. With reference to the sales summary
chart, most of these sales are located in Tax District 273.
The central area of Dublin is bound on the east by the
Scioto River, on the south by Hayden Run Road, and on the west
and north by 1-270. This is an area of more moderate residential
growth with most of the current activity taking place in the
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vicinity of Dublin Road and Tuttle Road. Utilities are
available to service this area.
The two remaining sections of the Dublin Corporate area
consist of the southwest and the southeast areas. The southwest
area is bordered on the north by Route 33 and on the east by' 1-
27 O. There is limited development in this area. It is projected
as a low growth residential development area for the foreseeable
future. This has an impact on land prices in this area.
Columbus} Ohio
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Continental ,ApPrcuSal Company
The southeast section of Dublin's corporate area is bordered
on the west by the Scioto River, on the north by I-270 and on the
east by Sawmill Road. This area has been classified for low
density residential devel opmen t. However, the predominant
development in the area is commercial, which is concentrated
along Sawmill Road and State Route 16l.
With the identification of these various areas and the
identification of the parameters of the study, market data has
been assembled and is presented in the following section entitled
Market Analys i s.
Columbus, Ohio
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ConJinenWl.A>Praisal Company
MARKET ANALYSIS
In the market investigation, raw land sales in the City of
Dublin and in the immediate area surrounding Dublin were
collected. There have been a number of recent real estate
transactions in the subject area. In this market investigation,
15 sales h~ve been assembled. The location of each sale is
indicated on the fac i ng map. The detailed information applicable
from each sale is as follows:
SALE NO. 1
Location: WS Sawmill Road, just north of Summitview Road
Land Area: 8.198 Acres
Date: 3/9/87
Price: $176,000 Un i t Pr ice:, $ 21 , 468
Grantor: Bianc Management
Grantee: Joseph H. Banks
Reference: Deed Book Volume 9201, Page G-06
Comments: This is an unimproved tract of vacant land. The
immediate surrounding land use for properties extending from
Summ i tv iew Road to the Delaware County Line is rural residential.
There is no sewer presently available to service the site. Sewer
will be dependent on the 1989-90 trunk construction.
SALE NO. 2
Location: SWC Sawmill Road & Summitview
Land Area: 48.124 Acres
Date: 1/6/87
Price: $1,335,400 Unit Price: $27,749
Grantor: '.:'homas Ludwick
Grantee: Summit View Associates
Reference: Deed Book Volume 8845, Page E-16
Comments: This is an unimproved tract of level land with
frontage on Sawmill and Summi tview Roads. No sewer is presently
available to the site. As a large tract of development land,
this site will be highly desirable for residential development
when sewer is available. Sewer is projected for 1989-90.
Columbus, Ohio
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Continental ,Appraisal Company
SALE NO. 3
Location: WS Sawmill Road, just south of Summitview Road
Land Area: 45.032 Acres
Date: 6/17/88
Price: $1,350,000 Unit Price: $29,978
Grantor: Ben Hale, Jr. , TR
Grantee: Sawmill Partners Invest
Reference: Deed Book Volume 11768, Page 0-05
Comments: The north property line of this parcel abuts the south
property line of Sale 2. This is a vacant tract with frontage on
Sawmill Road. The price of this property may have been
influenced by anticipation of increased density and possible
com~ercial development.
SALE NO. 4
Location: SS Bright Road between Grandell Cliffs & Sawmill Road
Land Area: 18.029 Acres
Date: 8/1/88
Price: $243, /100 Unit Price: $13,500
Grantor: Ben Hale, Jr. , TR
Grantee: John r1~Kitrick
Reference: Deed Book Volume 12018, Page 1-13
Comments: This is a vacant tract of land with frontage on Bright
Road. No sewer is available at the present time; however, the
1989-90 trunk extension will provide sewer. Seller had liens and
IRS problems. Heavy duress to sell influenced the price.
Columbus, Ohio
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COniillenln1 ~praisal Company
SALE NO. S
Location: NWC Frantz Road & Tuttle Road
Land Area: 98.832 Acres
Date: 1/27/87
Price: $1,828,400 unit Price: $18,500/acre
Grantor: Peter Edwards
Grantee: Tuttle Road, Ltd.
Reference: Deed Book Volume 8958, Page H-IO
Comments: This site is currently being graded for development.
The surrounding property uses include commercial office on Frantz
Road, multi-family on Tuttle Road, and some interim agricultural.
May also be an inter-company transaction but does generally
reflect market value. Requires some trunk sewer extension.
SALE NO. G
Location: WS Dublin Road, between Tuttle Road & Hertford Lane
Land Area: 16.895 Acres
Date: 4/6/87
Price: $355,000 Unit Price: $2l,012/Acre
Grantor: Llewellyn Farms
Grantee: Multicon Builders
Reference: Deed Book Volume 9639, Page J-10
Comments: This site abuts the north property line of Sale No. 7.
New development of single family homes with some homes currently
under construction.
Columbus, Ohio
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Continental ~praisal Company
SALE NO. 7
Location: NWC Tuttle Road & Dublin Road
Land Area: 15.818 Acres
Date: 8/8/88
Price: $411,000 Unit Price: $25,983/Acre
Grantor: Llewellyn Farms
Grantee: Multicon Builders
Reference: Deed Book Volume 12063, Page J-12
Comments: This tract of land is staked out for single family lots
and is presently improved with streets. It has frontage on
Tuttle Road & Dublin Road. This parcel was immediately ready for
development with no offsites required.
SALE NO. 8
Location: SWC Brand Road & SR 745
Land Area: 85.436 Acres (total)
Date: 11/13/87
Price: $1,743,700 (total)
Unit Price: $20,409 (averaged)
Grantor: See Comments
Grantee: Coventry Woods Associates
Reference: Deed Book Volume 10769, Pages G-12, 15, 20, H-02, 06
Comments: This sale has frontage on Brand Road & SR 745. It is
currently being developed as a single family subdivision known as
"Coventry \'1 0 0 d s II . Utilities were available with short trunk
extensions. The entire property is an assemblage of five
separate parcels including these 5 parcels which have been
assembled into a single site of 85.436 Acres.
SIZE PRICE !!!!! PRICE/ACRE
-
35.097 Acres $702,000 $20,001
17.548 Acres 351,000 20,002
12.326 Acres 246,500 19,998
16.741 Acres 369,700 22,083 I
3.724 Acres 74,500 20,005
Columbus, Ohio
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Continental ,ApPrcuSal Company
SALE NO. 9
Location: SEC Brand Road & Avery Road
Land Area: 117.16 Acres
Date: 11/21/88
Price: $3,544,800 Unit Price: $30,256/Acre
Grantor: Maxster Company
Grantee: Jefferson Savings
Reference: n / a
Comments: Currently, this is a vacant tract of land located in.
close proximity to a rapidly developing area between Avery Road
and Coffman Road. It is situated across Avery Road from a city
park. A sewer extension is required to service this property.
SALE NO. 10
Location: WS Avery Road, just north of Post Road
Land Area: 48.594 Acres
Date: 8/27/87
Price: $777,500 Unit Price: $15,999/Acre
Grantor: Ruth MAst
Grantee: Pat Grabill & Company
Reference: Deed Book Volume 10320, Page A-II
Comments: rfh is property is currently being developed as a single
family subdivision. Sewer was available. This sale took about 24
months to close and a major park area was gifted as a part of the
rezoning. The sale price reflected 1985 value versus 1987
transfer da te. ~
Columbus, Ohio
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Continental ~PrazSal Company
SALE NO. 11
Location: ES Avery Road south of Brand Road
Land Area: 96.522 Acres
Date: 1/11/88
Price: $3,000,000
Jnit Price: $31,080/Acre
Grantor: Avery Land Company
Grantee: Dunmere Associates, Ltd.
Reference: Deed Book Volume 11041, Page 1-03
Comments: Currently vacant land located in close proximity to an
established subdivision to the south and across Avery Road from a
city pa rk. This parcel is located on the ES of Avery Road
between Avery Road and the proposed connector for Muirfield
Drive.
SALE NO. 12
Location: SS Dublinshire Drive just west of Earlington Parkway
Land Area: 5.022 Acres
Date: 2/5/88
Price: $126,700 i
,nit Price: $25,228/Acre
rantor: Brand Road Investment Company
Grantee: Stratford Homes & Realty
Reference: Deed Book Volume 11148, Page H-II
Comments: This site purchased in developing I
was a area on an ,
existing street. It is currently being developed with a planned
,
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neighborhood of detached single family homes. Purchaser was i
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required to construct street along side of this parcel. I
a one I
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Also a package sale of 4 phases - unit price must be adjusted up \
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for these unusual conditions. I !
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Columbus, Ohio I
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Continental ,Appraisal Company
SALE NO. 13
Location: WS Earlington Parkway, South of Brand Road
Land Area: 20.372 Acres
Date: 3/11/87
Price: $672,300 Unit Price: $33,001/Acre
:antor: Brand Road Investment Company
.:-antee: Hemingway West Dev
Reference: Deed Book Volume 9207, Page H-13
Comments: Section No. 4 of Ear1ington Village Subdivision. This
section has been subdivided into lots and improved with single
family homes. Some homes are still under construction.
Circumstances reported indicated that this sale was at a premium
price.
SALE NO. 14
Location: NWQ Brand Road & Avery Road
Land Area: 23.525 Acres
Date: 10/17/88
Price: $941,000 Unit Price: $40,000/Acre
Grantor: Erwin & Erwin
Grantee: Jefferson Savings
Reference: Deed Book Volume 12418, Page A-07
Jmments:
SALE NO. 15
Location: ES Avery Road between Brand Road & Memorial Drive
Land Area: 68.714 Acres
Date: 10/17/88
Price: $2,405,000 Unit Price: $35,000/Acre
Grantor: Erwin & Erwin
Grantee: Jefferson Savings
Reference: Deed Book Volume 12418, Page A-13
Columbus, Ohio
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Continental ~PrazSal Company
SUMMARY AND CONCLUSIONS
The sales data presented in this report is a collection of
15 raw acreage transactions scattered throughout the Dublin
Corporate area. These sales cover a two year period prior to
Jecember 1, 1988. For analysis purposes, the data has been
.:lassified by section as previously described in this report and
illustrated in the facing sales summary chart.
The only adjustment in the market data in the chart on the
facing page was for time or date of sale. Generally, the sales
spanned the time period from late 1986 to December, 1988. While
not an extended time, the market indicates an upward trend in
unit prices due to the strong activity. Sales 2 and 3 are paired
sales in the same location where the only basic difference was
the date of the transaction. The time factor was 19 months -
,
from January, 1987 to June, 1988. The appreciation in unit price
was 8%, or approximately .45% per month which '..las rounded to .5%.
Sale 10 indicates an even strong appreciation rate from earlier
sales dates. This sale was based on a 1985 contract date and,
when compared to other area sales, would indicate a total
ldjustment of almost 100%. Again, this demonstl'a tes market
;trength. In the chart, all sales have been adjusted in t imeto
December 1, 1988 in the adjusted price per acre column.
The greatest area of residential development activity has
been in the northwest section. This is indicated by the number
of sales which have taken place in the past two years. Wi th
reference to the sales summary chart, Sale Nos. 8 through 15 are
located in this area.
In the statistical analysis of the data, all averages have
been priced on the "Adjusted Price Per Acre" . The mean or simple
average for the northwest group of sales is $30,305 per acre.
Columbus, Ohio
13
Continental ~PrarSal Company
The weighted average for the same group adjusts for parcel size
differences. The weighted average is $29,525 per acre. These
averages set the top of the range for Dublin and are the highest
price ma rket.
Sale Nos. 1 through 4 are located in the northeast sector.
his group has a s i m pI e average of $27,182 per acre and a
weighted average of $27,551 per acre. The average unit price
indicated by the market data reflects the deferred future
development of the northeast area due to the lack of current
availability of sanitary sewer s.
Sale Nos. 5 through 7 on the summary chart.are located in
the central sector. This group of sales have a simple ~verage of
$22,885 per acre and a weighted average of $21,050 per acre. The
prices in the Central area are lower than the other sections.
This, we believe, is in part a reflection of the lower prices for
new homes in the adjacent areas.
For the purpose of this report, the sales located in the
northwest and northeast sectors have the greatest weight on the
average unit acreage price to be established for raw land ( for
?sidential development) within the City. For definition
lrposes, raw land is defined as:
"land which has services available to it or where
extensions are anticipated for development within
the foreseeable future."
The base unit for the purpose of the Dublin Park Land formula
must be single family residential land. The ordinance formula
makes an adjustment for the differential between properties with
a higher permitted density than single family development.
Columbus, Ohio
14
Continental ~praisal Company
As indicated on the sales summary chart, the overall mean or
simple average is $27,182 per acre and an overall weighted
average is $27,551 per acre. In determining the average unit
price, the northwest and the northeast sectors generate the most
weight. The northwest sector is the area of greatest residential
development activity and the northeast area has good potential
for residential growth and development in the foreseeable future.
Based on the overall investigation, the assemblage of the
data, and recognizing that this unit price is to cover a two year
time span into the future, the appraiser concludes that a
conservative suggested price per acre for raw land within the
city for the subsequent two year period as required under Section
1109.02 of the Ordinances of the City of Dublin is:
TWENTY-NINE THOUSAND ($29,000) DOLLARS
)
Columbus, Ohio
15
Continental ~pluisal Company
i
QUA L I FIe A T ION s
Columbus, Ohio
Continental ~praisal Company
APPRAISAL QUALIFICATIONS
OF
JOHN R. GARVIN
Education: Graduate of Ohio State Univecsity, 1959, with a
Bachelor of Science Degree in Commerce and
Business Administration, and a Major in Real
,
" Estate.
Professional
Education: Subsequent educational cout"'ses include the
Society of Real Estate Appraisers Residential
Appraisal Course: Case Study Courses I and VI,
presented by the American Institute of Real
Estate Appraisers: Educare Courses, and numerous
Appraisal and Investment Analysis Seminars.
Professional
Designat,ions: MAl -- Member of the American Institute of Real
Estate Appraisers.
CRE -- Member of the American Society of Real
Estate Counselors.
S R/ W A -- American Right-of-Way Association
(Seniot"' Member #1893).
Offices in
Organizations: NATIONAL VICE PRESIDENT--Great Lakes Region,
AIREA, 1985-86
CHAIRMAN--Great Lakes Regional Committee, 1985-86
MEMBER--National Education Co m m it tee, AIREA,
1983-84.
CHAIRMAN--Comprehensive Exam Committee, 1981-82.
MEMBER--Governing Council, AIREA, 1979-8l.
PRESIDENT--Ohio Chapter AIREA, 1980-8l.
VICE PRESIDENT--Ohio Chapter AIREA, 1978-80.
SECRETARY--Ohio Chapter AIREA, 1977.
TREASURER--Ohio Chapter AIREA, 1976.
VICE GOVERNOR--District 22, Society of Real
Estate Appraisers, 1975-77.
PRESIDENT--Columbus Chapter Society of Real
Estate Appraisers, 1976.
VICE PRESIDENT--Columbus Chapter Society of Real
Estate Appraisers, 1975.
TREASURER--Columbus Chapter Society of Real
Estate Appraisers, 1974.
SECRETARY--Co1umbus Chapter Society of Real
Estate Appraisers, 1973.
PRESIDENT--Buckeye Chapter # 13, American Right-
of-Way Association, 1975.
VICE PRESIDENT--Buckeye Chapter #13, American
Right-of-Way Association, 1972-74.
SECRETARY--Buckeye Chapter # 13, American Right-
of-Way Association, 1971-
Columbus, Ohio
Contineninl ,Appraisal Company
Professional
Memberships &
Licenses: REALTOR -- Columbus Board of Realtors. Ohio
Association of Real Estate Boards. National
Association of Real Estate Bo a rds. Licensed
Real Estate Broker, State of Ohio.
MEMBER -- Valuation Network, Inc.
MEMBER -- American Arbitration Association -
Commercial Panel.
MEMBER--Institute of Property Taxation
Court
Testimony: Qualified as an expert valuation witness before
the Public Utilities Commission of Ohio, in the
Common Pleas Co u r t, in the Federal District
Co u r t , Local Boards of Tax Revision, and the
state Board of Tax Appeal s.
Experience: Engaged in appraisal work since 1953. First
employed by Arthur E. Daley, M.A.1., Columbus,
Ohio, as an appraisal assistant and appraiser.
In 1961, assisted Robert L. Fr e e, M . A. 1. , . in the
appraisal of the Ohio Penitentiary and the
wilkins Ai r Force Depot. Subsequent to that
time, have been a partner in and am now sole
owner and President of The Continental Appraisal
Company. Also owner and President of First
Continental Realty, Inc. , a brokerage firm
specializing in investment and development
property.
Appraisal and consulting experience covers a
wide range of property types and consulting
assignments. Experience includes single-family
residential; large apartment projects, both
existing and proposed; high-rise apartment and
office buildings; commercial and industrial
buildings, including office buildings; downtown
properties; shopping centers; warehouses;
motels; service stations; and many special
purpose properties. In 1955, completed a
historical research for a retrospective Indian
Lands appraisal in Northern Oh i o. From 1975-
1982, served as a Valuation Consultant, Panel
Member, and Appraiser to the United States
Railway Association in the valuation of the
Bankrupt Estates conveyed to ConRail. Was
responsible for all valuation methodology
testimony. Currently serving as a valuation,
investment, and development consultant to large
land owners, investors, trustees, pension funds,
corporations, and private individuals.
Columbus, Ohio
Continentn1 ~PnuSal Company
Clients: United States Railway Association; State of
Ohio; Cities of Columbus, Upper Arlington, Grove
City and Lorain; Oh io state university; Central
State University; Ohio Transportation Authority;
Public Utility Companies; Insurance Companies;
Mortgage Lending Companies; Fiduciary Trusts and
Trustees; Ba n k s ; Public Corporations; Private
Law Firms; and private individual s.
Columbus, Ohio
Continentnl ~PrazSal Company
APPRAISAL QUALIFICATIONS
of
JOHN M. GARVIN
Education: Graduate of Otterbein College, 1983 with
a Bachelor of Arts Degree.
Professional
Education: Subsequent educational courses offered by
the American Institute of Real Estate
Appraisers include:
(lA-l) Real Estate Appraisal Principles
(lA- 2) Real Estate Appraisal Procedures
(lB-l) Capitalization Theory & Techniques
(lB-2) Capitalization Theory & Techniques
(8-2) Residential Valuation
(2-3) Standards of Professional Practice
Additional educational courses include
Valuation of Income Producing Properties
offered by Ohio State University,
Residential Construction t1ethods offered
by Columbus Technical Institute. Have
attended Seminars on Economics and
Evaluating Residential Construction
presented by the Ohio Chapter of the
American Institute of Real Estate
AppraiseJ;s.
Professional
Association: Presently an RM (Residential Member)
Candidate - American Institute of Real
Estate Appraisers.
Experience: Employed with Continental Appraisal
Company since mid-1984. Valuation
experience, to date, has been on
residential property, including
FNMA/FHLMC appraisals and Employee
Relocation appraisals. Have assisted in
the appraisal of numerous types of
commercial and investment properties.
Columbus, Ohio