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<br />./ <br /> <br />e <br /> <br />e <br /> <br />~ <br /> <br />City of La Porte <br />Page 2 <br /> <br />The following businesses are functioning as "ligbt industrial" on the La Porte side of <br />Underwood Road: <br /> <br />H. B. Zachry Construction <br />Dow Chemical (large storage tank and office building) <br />Fish Engineering & Construction, Inc. <br /> <br />The financial impact of zoning the property frontage "commercial" and the bulk of the <br />property "residential", to Fish, is devastating. The property is listed on the La Porte tax <br />roles at $750,000 (just increased).. The property is for sale and five (5) potential buyers <br />have offered varying amounts of approximately $750,000 for the property. All potential <br />buyers would require that the property be zoned "light industrial". It appears that the <br />property is worth something less than $300,000 if used for residential or commercial <br />purposes. The lost of value to Fish is very significant. There is also 'an oyera111oss of tax <br />value to the City of La Porte resulting from this zoning. Fish has discussed this problem <br />with other property owners in the area who bave similar concerns about this potentially <br />dramatic drop in their property value. <br /> <br />Fish appreciates you and the Zoning Commission taking a further look at this situation. <br />If there is any additional information n~eded, please advise. . <br /> <br /> <br />cc: Mr. Robert T. Herrera, City Manager <br /> <br />EXH'B1f C <br /> <br />~IS~ <br />