2006-03-27 Regular Meeting and Workshop Meeting

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City of La Porte The intended user of this appraisal is the City of La Porte only. The intended use is to determine an estimated market value range for at least six (6) of the original 13 pre-defined zones in the city limits of La Porte. (see addenda for zone map). Given the scope of analyzing such a large market area and large amount of variances in such a market, I have made the following assumptions with respect to some of the site characteristics of the potential park site. - Reasonable access from dedicated public roadways - No adverse deed restrictions and/or easements. ZONE 1 The unit market values in this "zone" appear to vary generally from +-$0.25 PSF to over $1.00 PSF for larger parcels. This zone is located south of Spencer and north of Fairmont Parkway on the most westerly end of La Porte City limits as it transitions into Pasadena. Prime thoroughfare locations in this zone tend to be more valuable here due to Spencer Highway and Fairmont Parkway locations and the interior areas are either undeveloped tracts of land or residential subdivisions. Sale 1 is located in the this zone with Sale 10 located just west of Zone 1 but is considered comparable. Average market value for this zone is $0.77 PSF. ZONE :1 The unit market values in this "zone" which were identified ranged from +- $0.22 PSF to over $0.44 PSF. This zone is generally located north of Spencer and south of North "P" Street in the westerly end of La Porte City limits as it transitions into Deer Park. Prime thoroughfare locations in this zone tend to be more valuable here due to Spencer and Fairmont addresses with interior streets such as North "P" and North "L" Street typically having residential uses located in a few existing planned subdivisions or larger tracts of 1 to 5+ acres. There are some special purpose use noted in this zone such as the La Porte Airport. Sales 2, 3, 4 and 5 are located in the this zone with unit values