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HomeMy WebLinkAboutR89-109ASSETS, SALE OF - VACANT LOT RESOLUTION NO. R89-109 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLAINVIEW, TEXAS, ACCEPTING A BID FOR THE SALE OF SURPLUS REAL PROPERTY OF THE CITY OF PLAINVIEW. Whereas, the City of Plainview is the owner of the property located at 103 E. Campbell Street, better described as Lot 11, Block 10, Wye Addition, Plainview, Hale County, Texas; and Whereas, the City Council, through the adoption of Resolution No. R89-100, on January 10, 1989, declared said property as surplus; and Whereas, an appraisal was completed on the property, setting the value at $5007.00; and Whereas, appraisal cost and legal notice estimated at $175.00; and cost have been Whereas, the Greater New Hope Holy Baptist Church, has remitted $175.00 to the City of Plainview in order to cover said expenses; and Whereas, on January 17, 1989, the City advertised for bids for the sale of said property; and Whereas, a copy of the bids received are hereby attached and made a permanent part of this Resolution. Now, Therefore, Be It Resolved by the City Council of the City of Plainview, Texas, that Lot 11, Block 10, Wye Addition, Plainview, Hale County, Texas, is hereby sold to for, $ 800,00 , in accordance with~ArtiCle VIf 6f the City of Plainview Code of Ordinances, entitled disposition of surplus real property. Passed and approved on February E.V. Ridlehuber, Mayor ATTEST: Carla Reese, City Secretary APPROVED AS TO CONTENT: Manager APPROVED AS TO FORM: David Blackburn, City Attorney 0!7 JANUARY 30, 1989 CITY OF PLAINVIEW: GREATER NEW HOPE OFFERS A BID OF EIGHT HUNDRED DOLLARS(800.O0) ON LOT il, BLOCK 10, WYE ADDITION, PLAINVIEW, HALE COUNTY, TEXAS. PASTOR WILLIE ANSLEY SR, 018 APPRAISAL REPORT OF VACANT LOT 103 EAST CAMPBELL STREET PLAINVIEW, TEXAS 79072 PREPARED FOR MR. JIM JEFFERS, CITY MANAGER CITY OF PLAINVIEW P.O. BOX 1870 PLAINVIEW, TEXAS 79072 SID COOPER, SRA ~lember, Society of Real Estate Appraisers REAL PROPERTY APPRAISALS 2203 Edgemere Drive Plainview, Texas 79072 806-293-8902 January 13, 1989 Mr. Jim Jeffers, City Manager City of Plainview P.O. Box 1870 Plainview, Texas 79072 Dear Mr. Jeffers: In compliance with your request, the undersigned has completed an appraisal of the vacant lot owned by the City of Plainview and located at 103 East Campbell Street, Plainview, Texas. This property is legally described as follows: Lot Eleven (11), Block Ten (10), Wye Addition, Plainview, Hale County, Texas. Please be informed that a careful and personal inspection was made of the site and its building improvements, and that due consideration was given to all factors and forces that influence property value at the subject location. The attached report contains an analysis of general and specific data which was deemed essential to support the estimate of value as reported herein using the Cost and Market Approaches to value. As a result of my investigation and findings, it is my considered and professional opinion that the property as described above, has an indicated Market Value as of January 13, 1989 in the amount of: LAND APPRAISAL REPO~,T Census Tracl _N~ A Map Reference 020 N/A E'orrower Prooerty Address oty Plainview LegaIDescnption Lot 11, ~* '~3 Price $ _ ~ual Real Estate Taxes $ Lender/Chant City of Occupant Vacant Lot 103 East Campbell Street County Hal e Block 10, Wye Addition Date of Sale Loan Term __ (yr.) Loan charges to be ping oy seller $ State Texas z,p Code 79072 _yrs Prooerry R~ghts Appraised Other sales concessions Plainview Appraiser S i d __ Coo_per ~ Fee [] Leasehold [] De Mm~m~s PUD ..... Address p1 a i~nv_i__.e__w_~_ ~Te xa s Instruct,ohs to Appra,ser __gS_ti_~a%e_.Ma_r__ket Val_tLe .......... Locahon []Urban Built Up COver 75% Growth Rate [] Fully Der [] Rapid arty Values [] Increasing De'hand/Supply [] Shortage Markehng Time E~Under 3 Mos Present Land Use % 1Famdy % 2-4 Family % Industnal 0/c Vacant Change ~n Present Lan~Use [] Not Likely (') From Predominant Occupancy [] Owner S:ngle Fam,ly Pr,ce qange $ 5,000 to $ Single Family Age 20 _yrs. to __ E~ Suburban [] ~5% t~ 75% [] Steady {~ Stable ]in Balance []4-6 Mos. % Apts __ % []Rural El Undei 25% ]Slow Eli Dechn~ng F-lover Supply ]Over 6 Mos. Condo % Commermal [] L~kely (') [] Taking Place To El Tenant __ % Vacant 25,000 Predominant Value $ 5,000 50 yrs Predominant Age vacant _yrs EmpJoymentStabdity [] [] [] [] Convenlence to Employment [] [] [] [] Conven,encetoShopplng [] [] [] [] Convemencetc Schools [] [] [] [] Adequacy ofPubhcTransportation [] [] [] [] Recreational FacdJhes [] [] [] [] Adequ~cyofUtmt,es [] [] [] [] Property Compatibility [] [] [] [] Pro,ec,,o.'rom Detrimental Condl,io.s [] [] [] [] Pol,cea.d Fl reProtection [] [] [] [] General Appearance of Properties [] [] F~ --mt XppeattoMarke! [] [] ~-J [] Comments including those factors, favorable or unfavorable, affect,rig marketability te.g public parks schools, view. noise) The s ubj ect i s 1 ocated across the street from a park and next door to a church. D, menslons 50' X 140' Zomn? classificabon .¢H~ i~ghest and best use: [] Present use Public Othe~ [Describe) Elec [] Gas J~ Water [] San Sewer [] ]Underground Elect. & Tel Comments (fa 7,000 Sq Ft or Acres Res i denti al Present improvements []do [] Other (specify) OFF SITE IMPROVEMENTS Street Access: J~Public [] Pnvate Surface a spbal t Maintenance: ~Pubhc [] Private [] Storm Sewer [] Curb/Gutter [] Sidewalk [] Street Lights -able or unfavorable includin ]Corner Lot Elco not conform to zoning regulations Tope _ 1 Pvel S,ze _ a V~ Ea g~ Shape rPctangul ar V,ew _ -p~- r J( Dra,nage adequatp Isfbe properly Iocaled Jn a HUD Identified Special Flood Hazard Ama? any apparen~ adverse easements, encroachments or other aaverse condmons~ ~one no ted [] No [] Yes The undermgned has recited three recent sales of propemes most s~mHar and proximate to SUOlect and has considered these ~n the market analys~s. The description *ncludes a dollar adjustment reflecting market reaction to t.qose items of significant rahab*on between the sublect and comparable propemes If a signihcant item in the comparable property is superior to, or more favorable than. the subject property a minus (-) adjustment is made thus reducing the intimated value Of subject; if a significant item in the comparable ~s inferior to. or les favorable than. the subleCt property, a plus (+) adjustment ~s made1 thus increasing the indicated value of the SUOleCZ ITEM Subject Property COMPARABLE NO 1 COMPARABLE NO 2 Lot 3, Bk.1, Moleno Add Address 103 East 1200 Block East llth ~bell 14, Block 11 Addi ti on i Btoc-k Campbet-1 15 blocks 250 15 $ q-)s DESCRIPTION DESCRIPTION Adjuslrnent : 12-87 )-85 , rable I Plus: [] M~nus $ - COMPARABLE NO. 3 Lo L-s~8-, Merriman Addition E1 Camino_ Street 19_Blocks 500 ~$ 2_._000 Appraisal District · I ~s DESCRIPTION J .I-~s Adlustmenl j Adjustment i comparable , comparable 100' x 100' ~l~_000J_ 2 lots :rict E]Pius. E~]M,nus ,$ -_. __ •P,us ~M,nus.~' 1,000_ , ;ated Value i I ....... ~ : 500 ~ ~ 1,000 Commem~o. Maro~eata Recent sales of lots jn_.t_hea_rea of the subje_c__t are_n_o_n--_e_xx_i_s~tant_ .... ~berefore= dated sales and--_Saatles_0u.t_of-~h]_~immediaten¢i-g-hhbQr~o0d vmre~sed_t_0__arrjve at.the indication of value. Comments and CondJt,ons of Appralsa An,~_ l_.o.~n costs_.that ma~y_ be _~aid_ byei%her t_he_ buyer__or scl 1 er have no effect on thea_ppE~.ised p_ri_ce ; Price $ Data Source DESCRIPTION ~te of Sale and Time Adjustment Locanon S~te/Wew S,~les or Financing COncessions I ESTIMATE THE MARKET V~AL~E, AS DEFINED, OF SUBJECT PROPERTY AS OF Jan uary 13 !9 89 to be $ 500. 00 Apz-a~ser(s) ~-_ ~~ Review Appraiser df apphcab~e) ~per FW-S8 Rev 12/82 [] D,d [] D~d Not Physically Inspect Prop*~ +y © 1984 Forms and Worms Inc. 315 Whitney Ave. New Haven, Ct. 06511 Ali Rights Reserved f 021 Subject Site Campbel 1 Street View BOOKER T. H~k SCHOOL EAST T WEN'~'Y FOURTH , r 022 EAST STI EET JO~N,S O2 30 TH ST. ! 2ND ~ 'i *1 ST ,1 IJLJ 3 [3[3 3[33 3[---1__ ST. r"l r'-i CORPORATE LIMITS "' ======================== .... ..? JO:NS 06 024 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus, Implicit in this definition is the consummation of a sale as of ~ specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated: (2) both parties are well informed or well advised, and each acting in what he considers his own best interest: (3}'a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U,S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. *Adjustments to the comparabtes must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area: these costs are readily identifiable since the seller pays these costs in virtually al'l sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party insntutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar tbr dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market'.', reactmn to the financing or concessions based on the appraiser's judgment. CERTIFICATION AND STATEMENT OF LIMITING CONDITIONS CERTIFICATION: The Appraiser certifies and agrees that: 1. The Appraiser has no present or contemplated future interest in the property appraised; and neither the employment to make the appraisal, nor the compensation for it. is contingent upon the appraised value of the property. 2. The Appraiser has no personal interest in or bias with respect to the subject matter of the appraisal report or the partici- pants to the sale. The "Estimate of Market Value" in the appraisal report ~s not based in whole or in part upon the race, color, ox national origin of the prospective owners or occupants of the.property appraised, or upon the race, color or national origin of the present owners or occupants of the properties in the vicinity of the property appraised. 3. The Appraiser has personally inspected the property, both inside and out, and has made an exterior inspection of all comparable sales listed in the report. To the best of the Appraiser's knowledge and belief, all statements and information in this report are true and correct, and the Appraiser has not knowingly withheld any significant information. 4. All contingent and limiting conditions are contained herein (imposed by the terms of the assignment or by the under- signed affecting the analyses, opinions, and conclusions contained in the report.}. 5. This appraisal report has been made in conformity with and is subject to the requirements of the Code of Professional Ethics and Standards of Professional Conduct of the appraisal organizations with which the Appraiser is affiliated. 6. All conclusions and opmmns concerning the real estate that are set forth in the appraisal report were prepared by the Appraiser whose signature appears on the appraisal report, unless indicated as "Review Appraiser." No change of any item in the appraisal report shall be made by anyone other than the Appraiser, and the Appraiser shall have no responsibility for any such unauthorized change. CONTINGENT AND LIMITING CONDITIONS: The certification of the Appraiser appearing in the appraisal report is subject to the following conditions and to such other specific and limiting conditions as are set forth by the Appraiser in the report. 1. The Appraiser assumes no responsibility for matters of a legal nature affecting the property appraised or the title there- to, nor- does the Appraiser render any opinion as to the title, which is assumed to be good and marketable. The property is appraised as though under responsible ownership. :~2 Any sketch in the report may show approximate dimensions and is included to assist the reader m visualizing the prop- erty, The Appraiser has made no survey of the property. 3, The Appraiser is not required to give testimony or appear in court because of having made the appraisal with reference to the property in question, unless arrangements have been previously made therefor. 4. Any distribution of the valuation in the report between land and hnprovements applies only under the existing program of utiliza~don. The separate valuations for land and building must not be used in conjunction with any other appraisal and are invalid if so used. 5. The Appraiser assumes that there are no hidden or unapparent conditions of the property, subsoil, or structures, which would render it more or less valuable. The Appraiser assumes no responsibility for such conditions, or for engineering which might be required to discover such factors. 6. Information, estima~tes, and opinions furnished to the Appraiser, and contained in the report., were obtained from sources considered reliable and believed to ~e true and correct. However, no responsibility f'or accuracy of such items furnished the Appraiser can be assumed by the Appraiser. 7. Disclosure of the contents of the appraisal report is governed by the Bylaws and Regulations of the professional appraisal organizations with which the Appraiser is affiliated. . 8. Neither all, nor any part of the content of the report, or copy thereof(including conclusions as to the property value. the identity of the Appraiser, professional designations, reference to any professional appraisal organizations, or the firm with which the Appraiser is connected), shall be used for any purposes by anyone but the client specified in the report, the borrower if appraisal fee paid by same, the mortgagee or lis successors and assigns, mortgage insurers, consultants, professional appraisal organizations, any state or federally approved financial institution, any department, agency, or instrumentality of the United States or any state or the District of Columbia, without the previous written consent el' the Appraiser; nor shall it be conveyed by anyone to the public through advertising, public relations, news, sales, or oti~er media, without the written consent and approval of the Appraiser. 9. On all appraisals, subject to satisfactory completion, repairs, or alterations, the appraisal report and value conclusion are contingent upon completion of the improvements in a workmanlike manner. Appraiser(s) ....... 025 Assumptions and Limiting Conditions continued: In this appraisal assignment, the existence of potentially hazardous material used in the construction or maintenance of the building, such as the presence of urea formaldehyde foam insulation, and/or existence of toxic waste or radon gas, which may or may not be present on the property, was not observed by me; nor do I have any knowledge of the existence of such materials on or in the property. However, the appraiser is not.qualified to detect such substances. The existence of urea formaldehyde insulation or other potentially hazardous waste material may have an effect on the value of the property. I/we urge the. client to retain an expert in this field if desired. QUALIFICATIONS OF SID COOPER Senior Residential Appraiser member of the Society of Real Estate Appraisers, with the Professional Designation of SRA. Senior member of the National Association of Review Appraisers, with the Professional Designation of CRA (Certified Review Appraiser). Associate, American Society and Texas Society of Farm Managers and Rural Appraisers. EDUCATION BACKGROUND Graduate of North Texas State College, 1959, BBA in Accounting. The Society of Real Estate Appraisers conduct a voluntary program of continuing education for its designated members; SRAs who meet the minimum standards of this program are awarded periodic education certification and I am certified under this program through December 31, 1990. Successfully completed- Finance Management Course, 1959, Amarillo College. Course 101, "An Introduction to Appraising Real Property." Society o.f Real Estate Appraisers, 1971, West Texas State University. Course 201, "Principals of Income Property Appraising." Society of Real Estate Appraisers, 1972, West Texas State University. "Principals of Rural Appraising", American Society of Farm Managers and Rural Appraisers, 1982, Texas Tech University. BUSINESS BACKGROUND Two years as credit manager and sales representative for company making direct and installment loans. Twenty-five years as Accountant, Real Estate Broker, Fee Appraiser and General Insurance.Agent. The last twenty. years, most actively involved in all types of appraisal work 027 on farms, ranches, commercial, development and residential proPerties. Texas Real Estate Brokers Licence Number, 102704 MISCELLANEOUS Served five and one-half years in the United States Air Force and was released from active duty with the rank of Captain. While in the service, had the aeronautical rating of Flight Navigator, and other duties which included Personnel Officer, Finance Officer and Squadron Adjutant. Was a member of the 1956 Strategic Air Commands World Champion B-36 Bomber crew and in 1958 was a member of the 14th Air Force Reserve Navigation Championship Team for the South and Southwestern United States. PRINCIPAL CLIENTS Serve in a fee appraiser capacity for Banks and Savings Institutions, various governmental agencies, attorneys and individuals. Partial List of Clients Served: Andrews Savings and Loan Association Briercroft Savings Association Caprock Savings Association Federal Deposit Insurance Corporation First National Bank of Plainview First State Bank of Dimmitt Hale County State Bank Hereford State Bank Homequity Corporation InterWest Savings Association Merrill Lynch Relocation Management, Inc. Republic Bank, Dallas Republic Bank Lubbock, N.A. Sentry Savings Association, Lubbock State Federal Savings Association Summit Savings Association U.S. Government, Veterans Administration