1981-04-01 Joint Public Hearing and Regular Meeting

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e e . Minutes, Joint Public Hearing and Regular Meeting April 1, 1981, Page 7 property values? I had my own ideas and my own thoughts on it but I wanted to hear an independent thought. I am referring to the 5 percent devaluation. I have no backup at this point in time, but I would be happy to spend the $1,500.00 and back it up with a professional opinion. The number of cars that will be involved for 51 units, which is 102 people as I under- stand. The additional traffic, just the use itself, is going to cause a 5 percent devaluation if it goes down hill. I say down hill because if the use changes and some day we wind up with a beer joint or whatever, then no telling how far the property values could go down. To answer your question, if I could get than, then that would be better than nothing. If I could have it the best way, or I should say not at all, I am self-serving here, in that I don't want my property values to go down. I do think the project is worthwhile, but I think there are other areas it could be done right here within the City. . Tomerlin: One question, Mr. Gilbert. ~.ve are talking about your property values going down, but have your property values been affected the other way due to having the park area in front of those houses? Gilbert: The area has always been vacant ever since I built the homes there, and I think it has been enhanced. Before, it was just vacant land, nothing there at all. The Happy Harbor people have fenced the property and put in some walks and, in my opinion, have highly improved the land and the value of my property. To answer your question, yes, I think it has im- proved the value of my property. Tomerlin: I guess my question is, do you think it will be off-setting, if the value prior to the project was increased due to the improvement by Happy Harbor, does that off-set the 5 percent decrease in value you seem to think this project would cause? Gilbert: No, I don't think so. I think we are looking at a person living across from vacant land opposed to living across from an apartment complex. The vacant land here in La Porte is kept mowed and isn't offensive anyway. I'd say it probably hasn't hurt, by having it fenced it isn't accessible to resi- dents, anyway. It is private land owned by Happy Harbor and not really a park. To say it's a park is misleading. I say it's not a park. It is for private use. . Cline: They are talking about building apartments on this block of land and it is actually right in the middle of a lot of rental property.