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<br />SUMMARY OF IMPORTANT CONCLUSIONS <br /> <br />Each of the two blocks consist of two parcels of 125' X ~OO' <br />separated by a 16' alley, but this alley can be closed and <br />sold to the owner of said property in many instances and this <br />appraisal is done on that assumption, therefore the alley is <br />not treated a a deterrent to the use of said property. <br /> <br />Said property is vacant, therefore the proper approach to <br />value is Market Data as Income and Cost approaches would not <br />app ly . <br /> <br />The final value estimate was made after a thorough study of <br />the area was made. <br /> <br />It is my opinion that the Fair Market Value of the property <br />appraised as of December 19, 1979 was: <br /> <br />Whole Property: <br />200,000 slf @ $1.90 slf = <br />Part TC'.ken: <br />8,000 slf @ $1.90 slf = <br />Fee Value of <br />Easement Value: 50% of Fee <br />Remainaer Before Taking: <br /> <br />$380,000. <br /> <br />$15,200. <br />Value = <br /> <br />7,600. <br />$372,~00. <br /> <br />Remainder After Taking: <br />192,000 slf @ $1.90 slf = <br />8,000 slf @ $1.90 slf X 50% = <br /> <br />$36~,800. <br />7,600. <br />$372,~00. <br />-0- <br /> <br />Damages <br /> <br />Total Compensation: <br />Easement Value: <br />Damages: <br /> <br />$7,600. <br />-0- <br /> <br />TOTAL <br /> <br />$7,600. <br /> <br />v <br />