HomeMy WebLinkAboutOrdinance 3748 T FILED FOR RECORD
194 AN 3 PM 1 01
WASHINGTON CO AR
A . KOLLMEYER
ORDINANCE NO. 3748
AN ORDINANCE AUTHORIZING EMINENT DOMAIN
PROCEEDINGS FOR THE CITY TO OBTAIN A TRACT OF
LAND, FROM STANDARD REGISTER, FOR THE AIRPORT
LAND ACQUISITION PROJECT IN CONJUNCTION WITH
THE OBSTRUCTION LIGHTING AND REMOVAL PROJECT.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1 . That the City Council authorizes and directs the city attorney of the City
of Fayetteville, Arkansas to initiate legal action, in order to obtain the property known as Tract
#50, owned by Standard Register, needed for the Airport Land Acquisition Project in conjunction
with the Obstruction Lighting and Removal Project, on the property described below :
See Exhibit "A" , attached hereto and made a part hereof.
Section 2. The City Council hereby determines that the immediate acquisition of the
above-described property for the Airport Federal Acquisition Project is necessary for runway
approach and transitional area protection/obstruction removal and is essential for the public
health, safety and welfare. Therefore, an emergency is hereby declared to exist and this
ordinance being necessary for the public health, safety and welfare shall be in full force and
effect from and after its passage and approval .
PASSED AND APPROVED this 21st day of December 1993 .
APPROVED:
By: /io/G
Fred Hanna, Mayor
ATTEST:
By: J
erry 1L. Thomas, City Clerk
i
94000165
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CERTIFICATE OF RECORD
State of Arkansas SS
City of Fayetteville
I, Sherry Thomas, City Clerk and Ex-
Officio recorder for the City of
Fayetteville, do herehY certify that the
annexed or f&reusing is of record in mY
office and the sa.,ie appears in
Ordinance & Resolution bryok Xat
page L•aac and
sealt- sTii , I _day ofy$ � rc nt� �✓
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e �
Exhibit "A"
A part of the Southwest Quarter (SW 'k) of the Northwest Quarter (NW '/a ) and
a part of the Northwest Quarter (NW 'k) of the Southwest Quarter (SW 'k) of
Section 33, Township 16 North, Range 30 West, being more particularly
described as follows: commencing at the Northwest corner of the Southwest
Quarter (SW '/a ) of the Northwest Quarter (NW 'b ) of said section 33 ; thence South
88 " 17 ' 12" East - 28 .21 feet to the East right-of-way line of the Arkansas and
Missouri Railroad; thence, along the Railroad right-of-way, South 09016' 15 " East
- 726.04 feet to the point of beginning; thence, leaving the Railroad right-of-way,
South 890 11 '33 East - 705 .01 feet; thence South 00048'27 " West - 250.00 feet;
thence South 89 " 11 '33 " East - 403 .63 feet to the West right-of-way line of U .S .
Highway No. 71 ; thence Southeasterly, along the Highway right-of-way in a
curve to the right, an arc distance of 251 .99 feet, said curve also having a radius
of 5689.58 feet and a chord of South 02013'39" West - 251 .97 feet; thence South
03 "29'47 " West - 966.43 feet; thence North 86 '30' l 3 " West - 10.00 feet; thence
South 03029'47" West - 469. 17 feet to the South line of the Northwest Quarter
(NW 'A) of the Southwest Quarter (SW 'A) of said Section 33; thence leaving the
Highway right-of-way and continuing along the sixteenth section line, North
88 11 '39" West - 683 .27 feet to the East right-of-way line of the Arkansas and
Missouri Railroad; thence, along the Railroad right-of-way, North 09 " 16' 15 "
West - 1953 .69 feet to the point of beginning, containing 37 .77 acres, more or
less, Washington County, Arkansas.
94000166
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s':c-. . —J in my o;iicc
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1: 1 ';. :. : : -=C:, I have hereunto
set n:p hcr.0 c.4U c(Suad the seal of said
Cccrt o.: t:•o c'oto indicated horoom
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STATE OF ARKANSAS
u.
ORDINANCE NO. 3748 I J Exhibk 'A' County of Washington
AN ORDINANCE AUTHOR- A part of the Southwest
IZING EMINENT DOMAIN , Quarter (SW1 /4) of the
PROCEEDINGS FOR THE Northwest Quarter (NW1/4) I, t- � r k hereby cer-
CITY TO OBTAIN Aland apart of
the Northwest' tify that I am the publisher of HE NORTHWEST ARKANSAS TIMES, a daily
TRACT OF LAND, FROM pua rtar (NW1 /4) of the
STANDARD REGISTER, 1 Southwest Quarter (SW1/4) newspaper having a second class mailing privilege, and being not less than four pages of
FOR U THE AIRPORT LAND I of Section Township e- five columns each, published at a fixed place of business and at a fixed (daily) intervals
ACQUISITION PROJECT IN North, Rangea 30 West, 16
CONJUNCTION WITH THE ;ng more particularly de- continuously in the City of Fayetteville, County of Washington, Arkansas for more than
OBSTRUCTION LIGHTING scribed
as t the
Northwest'tcoin-
ncin
AND REMOVAL PROJECT, scg a period of twelve months, circulated and distributed from an established place of business
No
c6mer of the Southwest to subscribers and readers generally of all classes in the City and County for a definite price
BE R ORDAINED BY THE Quarter (SWI /4) of the
CITY COUNCIL OF THE Northwest Quarter (NWl/4) for each copy, or a fixed price per annum, which price was fixed at what is considered the
CITY OF FAYETTEVILLE, of said Section 33; thence value of the publication, based upon the news value and service value it contains, that at
ARKANSAS: South 88'17 ' 12 " East - least fifty percent of the subscribers thereto have aid cash for their subscriptions to the
28.21 feet to the East right- y Pe paid P
.Section 1. That the City of-way line of the Arkansas newspaper or its agents or through recognized news dealers over a period of at least six
authorized and di- and Missouri Railroad:
rect$ the City Attorney of thence, along the Railroad months; and that the said newspaper publishes an average of more than forty percent news
reels t
the City of Fayetteville. Ark- right - of - way , South macer.
ansation. to initiate legal ac-he feet t 15 ' East - 728.04
tion, in order to obtain the teat to the point of begin-
property known as Tract nine: thence, leaving the I further certify that the legal notice hereto attached in the matter of
a50. owned by StandardRailroad right-of-way, South
'Register, needed for theion feet ;89611P
thence
- out nn(f , Mn�/ INA
Airport Land Acquisition feat : thence South l l' �7Jf1 /,u
;Project s conjunction with feet; -27"then West ' 250.00
the Obstruction Lighting . feat: thence 89'11 '33" East I
and Removal Project. on - 403.63 feet to the West was published in the regular daily issue of said newspaper for
the property described right-of-way of line of U.S.
below: Highway No. 71 ; thence consecutive insertions as follows:
Sea Exhibit "A", attached Southeasterly, along the
hereto and made a part Highway right-of-way in a n I I,
hereof. curve to the right, an arc The first insertion on the 1IAACPA -/i-• day of 19�
distance of 251 .99 feet.
Section 2. The City Coun- said curve also having a ra-
cu hereby determines that dies of 5689.58 feet and a the second insertion on the day of 19
the immediate acquisition chord of South 02.13'39"
of the above-described West - 251 .97 feet: thence
property for the Airport South 03.29'47 •• West - the third insertion on the day of 19
Federal Acquisition Project 966.43 feet; thence North
is necessary for runway ap. 86.30'13" West. - 10.00
proach and transitional area f a a t : thence south and the fourth insertion on the
protection/obstruction re- 03'29.47" West 469.17 feet day Of 19
moval and is essential for to the South line of the
the public health, an
Northwest Quarter (NW1/4)
and welfare. Therefore. en of the Southwest Quarter pp pL �v
emergency is hereby dee (SWI/4) of said Section 33: R E C E I V E U
fared to exist and this ordi- thence leaving the Highway
nonce being necessary for rightof-way and continuing
the public health. safety along the sixteenth section
Publisher / General Manager
and welfare shell be in full line. North et to
Wast JAN 07 I3 !14 g
force and effect passage
and - ht-of- teat to the East J
after its pe ssape antl ansae -and line of the Ark-
PASSED AND APPROVED road; thence. along the Missouri Rall-. FINANCE DEPT.
this 21st day of December.
1993.
APPROVED: road right-of-way, North
APPROVED: 09'16'15" West - 1953.69
8y: Fred Hanna, Mayor
ATTEST: feet to the point of begin-
By: Sherry L. Thomas acre containing in0 less .
7 . 77
City Clerk acres , more or less .
Washington County .
-- Arkansas.
Swom to and subscribed before me on this n5r I day of
`
\., 1 t uCri' 19 "( l
(Notary Public
My Commission Expires:
ng - oi -o �
Fees for Printing $
Cost of Proof $
Total $ 1 foo-4S
G
MICROFILMED
8994 Federal -Register / Vol. 54, No. 40 / Thursday, *March 2, 1989 / Rtiles and Regulations
construction purposes before making commonly accepted professional shall not be based on the amount of the
payment available,to an owner. appraisal practices. When sufficient . ,, valuation.-No appraiser shalt ect'aaa
(k) Uneconomic remnant. If the market sales data are available to : : negotiator for real property which'that
acquisition of onlya.portion of a rellabl su ort the teirmarket value for
property wouldleeve .the owner with an the specific port the f problem v person hes appraised, except that the
uneconomic remnant, the Agency may permit the same person to
. gencyshali encountered, the Agency, at its both appraise and negotiate an
offer :to acquire-the uneconomic remnant discretion, may require only the market acquisition where the valise of the
along with the portion of,the: property approach. If more than.one-approach is -acquisition is $2,500; ar'fess.
needed for the project„(See §.242(w).) utilized there shall be an analysis and
(1) Inverse_condemnation. If the reconciliation of approaches to value 124.104 : Rove#o}.epp-rataab: -` .
Agency Intends to acquire any interest that are sufficient to support the ..The Agency shall have an appraisal
in real property by exercise of the power appraiser's opinion of value. review process and. at a minimum; ..
of eminent domain, it shall institute (4) A description of comparable sales, (a) A qualified reviewing appraiser
formal condemnation proceedings and including a description of all relevant shall examine all appraisals to assure
not intentionally make it necessary for physical, legal, and economic fedora that they meet applicable appraisal
the owner to institute legal proceedings such es parties to the transaction, requirements and shall, prior to
to prove the fact of the taking of the real source and method of financing, and acceptance, seek necessary corrections
property. verification by a party involved in the or revisions.
(m) Fair rental. If the Agency permits transaction.
a former owner or tenant to occupy the (5) A'atatementof the value of the real (b) If the reviewing appraiser is
real property'aRer acquisition for a property to be acquired and, foreartial able to approve or recommend
short term or a period subject to acquisition,' a statement of the value of ba is for of an
tn isiial i at adequate
e offer termination by the, Agency on short the damages and benefits, if any, to the
nodce. lhe rent shall not exceed the fair remaining real property, where of just compensation, and it is
market rent for such occupancy. appropriate. determined that itis not practical to
e obi an additional, ay develop
appraisal, the
§ 24.103 Criteria for,approeals. (a) The effective date of valuation reviewing ePPraiaer m
date of appraisal, signature, and
(a) Standards of oppraisol. The format certification of the appraiser. appraisal documentation in accordance
and level of documentation for an (b) lnflu¢nce of the project on just with § 25.103 to support an approved or
appraisal depend on the complexity of compensation. To the extentermined recommended value.
the appraisal problem. The Agency shall by applicable law, the appraiser shall (c) The review appraiser's
develop minimum standards for disregard an decrease or increase in certification of the recommended or
and commonly ac
appraisals myconsistentccepp with established the fagir'market value of the real property approved value of the property shall be
ted appraisal caused by the project for which the set forth in a signed statement which
practice for those acquisitions which, by property is to be acquired, or by the identifies the appraisal reports reviewed
virtue of their low value or simplicity, do likelihood that the property would be and explains the basis for such
not require the in-depth analysis and acquired for the project, other than that recommendation or approval. Any
presentation necessary in a detailed due to physical deterioration within the damages or benefits to any remaining
ppraisal. A detailed appraisal shall be reasonable control of the owner. property shell also be identified in the
prepared for all other acquisitions. A (c) Owner retention of improvements. statement.
detailed appraisal shall reflect If the owner of a real property
nationally recognized appraisal improvement is permitted to retain itfor f 24.105 Acquisition of tenant-awned
standards, including to the extent removal from the project site, the Improvements.
appropriate, the Uniform Appraisal amount to be offered for the interest in (a) Acquisition of improvements.
Standards for Federal Land Acquisition. the real property.to be acquired shall be When acquiring any interest in real
An appraisal must contain sufficient not less than the difference between the property, the Agency shall offer to
documentation. Including valuation data amount determined to be just acquire at least an equal interest in all
and the appraiser's analysis of that data, compensation for the owner's entire buildings, structures, or other
to support his or her opinion of value. At interest in the real property and the Improvements located upon the real
a minimum, a detailed appraisal shall salvage value,(defined at § 24.2(s)) of property to be acquired which it
contain the following items: the retained improvement I requires to be removed or which it
(1) The purpose and/or the function of (d) Qualifications of appraisers. The determines will be adversely affected by
the appraisal, a definitionmf the estate Agency shall establish criteria for the use to which such real property will
being appraised, and a statement of the determining the minimum qualifications be put This shall include any
assumptions and limiting conditions of appraisers. Appraiser qualifications improvement of a tenant-owner who has
affecting the appraisal. shall be consistent with the level of the right or obligation to remove the
(2) An adequate description of the difficulty of the appraisal assignment improvement at the expiration of the
physical characteristics of the property The Agency shall review the experience, lease term
being appraised (and, in the case of a education, training, and other (b) Improvements considered to be
partial acquisition, an adequate qualifications of appraisers, including real property. Any building, structure, or
description of the remaining property), a review appraisers, and utilize only those other improvement, which would be
statement of the known and observed determined to be qualified. considered to be real property if owned
encumbrances, If any, title information, (e) Conflict of interest No appraiser by the owner of the real property on
Iota tion, zoning, present use, an or review appraiser shall have any which it is located, shall be considered
analysis of highest and best use, and at interest, direct or indirect in the real to be reel property for purposes of this
least a 5-year sales history of the property being appraised for the Agency Subpart.
property. that would in an we conflict with the
Y Y (c) Appraisal and establishment of
(3) All relevant and reliable preparation or review of the appraisal. fust compensation (or tenant-owned
approaches to value consistent with Compensation for making an appraisal improvements. just compensation for a
APPRAISAL REPORT
FOR
CITY OF FAYETTEVILLE
PROJECT Fayetteville Airport Land & Easement Acquisition
COUNTY Washington
JOB # 3-05-0020-11 . Phase 4 . Grant 15 . TRACT #50
LOCATION South School Avenue. North of the Drake Field Airport
Washington County. Arkansas
FEE OWNER Standard Register Company
ADDRESS 3655 S . School. Fayetteville AR 72701
ESTATE APPRAISED Fee Simple
approximately approximately
AREA OF WHOLE 38. 82 Acs. PERCENTAGE OF TAKING 93 % (See Remarks)
AREA OF AVIGATION ACQUISITION 36.02 Acs.
(Legal Description attached)
ESTIMATED FAIR MARKET VALUE OF THE PROPERTY:
Before
Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 194.000
Improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.050.000
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.244.000
After
Land [$ 194,000 Less Air Rights] . . . . . . . . . . . . . . . . . . $ 188 .500
Improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2 .050.000
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2 .238.500
FAIR MARKET VALUE OF ACQUISITION . . . . $ 5 .500
As of 16th day of March , 19-23
DETERMINATION AND ALLOCATION OF F.M.V. OF ACQUISITION
Air Rights: (See Factor Formula)
11. 94 ac. X $ 5, 000 X 6. 12 % . . . . . . . . . . . . . . . $ 3 .653 .64
24. 08 ac. X $ 5, 000 X 1. 53 % . . . . . . . . . . . 4 . . . $ 1 . 842. 12
Land: . . . . . . . . . . . . . . . 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0
Improvements: . . . 4 . 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0
Total Air Rights, Land, Improvements . . . . . . . . . . . . $ 5 .495 .76
Damages or Benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0
Total Compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5 .495 .76
Say $ 5,500
ATTACHMENTS :
X Certificate of Appraiser lG
X Plat
X Photographs i �,4C�
X Neighborhood Data Gt/1 Gz
X Zoning, H&B Use & Narrative Appraiser
X Tax Assessment Card
X General Information
X Market Data Approach Date
GENERAL REMARKS:
Discussion of the Proposed Easement: Reference Exhibit A
The subject property is located in the Runway Approach Zone on the north side of Drake Field. The
subject property's proximity to the airport is north of the runway 825' from the Clear Zone Area at the subject's
southeast property comer and approximately 2,700' at the subject's north property line. The site is irregular shaped
and does not lie square to the airport. The proposed Approach Surface easement extends over the subject property
at a slope of 34: 1 rising to the north. The East Transitional Surface easement area extends over a small area of the
western portion of the site and has a slope rising both to the north and to the east at 34: 1 and 7: 1 respectively.
There are two existing easements which currently encumber the site. A Clear Zone Easement and a Mals Lighting
Easement both of which extend over the eastern portions of the subject site along the S.School and which are
proximal to the Centerline of the Runway Extended, (these will be discussed further later).
The subject site is a large and irregular shaped tract lying entirely within the Runway Approach and to a
small extent in the Runway East Transitional Approach Surface areas. The site's location is relatively close to the
end of the Runway Clear Zone and consequently results in the surface of the Approach Slope.to be located relatively
close to the surface of the ground of the subject. The manner in which the subject is situated to the Airport Runway
is such that a wide assortment of elevations difference result between the Approach Surface and the subject's
ground, as well as the East Transitional Approach Surface and the ground beneath.
Nine elevation differences will be averaged in order to arrive at a figure to be used in the Factor Formula
for the distance of the Easement above the ground: 1-2) the two elevation differences at the comers of the east
property line along S.School, 3-4) the two elevation differences on the northern most property line, 5-6) the point
on the south property line where the East Transitional Slope begins and the point on the west property line where
the East Transitional Slope begins, 7) the elevation difference at the southwest comer of the site within the East
Transitional Approach area, 8-9) two elevation differences of the Approach Surface over the southeast and Water
Tank at the northwest comers of the subject building.
Six distances will be averaged in order to arrive at a figure to be used in the Factor Formula for the
distance of the subject at a right angle from the Centerline of the Runway Extended: 1-2) the distances of the
southeast and northeast comers along S.School from the Centerline, 34) the distances of the western comers from
the Centerline and, 5-6) the distance of the northeast and southwest comers of the subject building. The average
will be low which results from the Centerline of the Runway running through the subject site and several comers
being equal to zero. That is to say, a site cannot be located on both sides of the Centerline Extended without some
comers being equal to zero. In the case of the subject, which it is located west of S.School, the measurements will
be analyzed as though the property is west of the Centerline Extended. Points east of the Centerline are considered
zero.
Two distances will be averaged in order to arrive at a figure to be used in the Factor Formula for the
distance of the subject from the north boundary of the Clear Zone Area at the end of the Runway: 1) the distance
of the southeast property comer and, 2) the distance of the northern most property line.
Discussion of Existing Easements:
There are two existing Avigation related easements encumbering the subject property.
There is an existing Mals Clear Zone Easement area which extends over a small portion of the site and
rises at a slope of 50: 1 , reference Exhibit A. The proximity of this Easement Surface to the ground below is closer
than the location of the proposed easement. Therefore, the appraiser will not assess any additional value diminution
to the area encumbered by the Mals Lighting Easement as the proposed easement will not cause any further
limitations to this portion of the site. Based on calculations performed by the appraiser, the area of the existing
Mals Lighting Easement is approximately 2_80 acres or 7.2 % of the whole.
There is also an existing Clear Zone Easement which extends over a large portion of the subject site at a
slope of 20: 1 . Reference Exhibit A. The proximity of the existing Easement Surface is above the proposed
Easement Surface which has a slope of 34: 1 . The addition of the proposed easement will mathematically result in
a greater amount of value diminution as it is located closer to the ground than the existing Easement. [For example,
at the northeast property comer and the point on the east line at the end of the Mals Lighting Easement, the
elevation of the Existing Easement is 1 ,373.75' and 1 ,330' respectively, the elevation at the proposed Easement at
the same points are 1 ,322' and 1 ,297' respectively. A difference of 51 .75' and 33' respectively. The adjustment
to the Factor Formula will take this into account. See the Factor Formula for further explanation. Based on
calculations by the appraiser, the area of the existing Clear Zone Easement and Less the area of the existing Mals
Lighting Easement is approximately 24_08 acres or 62 % of the whole.
The average distance of the ground below the approach line is approximately 48. 05' . The subject's average distance
from the centerline of the runway extended is 717'. The average distance of the subject from the end of the Clear
Zone is approximately 1,837.5 '.
GENERAL INFORMATION
MARKET VALUE DEFINED
The American Institute of Real Estate Appraisers defines market value as follows:
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 a 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.
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.
PURPOSE OF THE APPRAISAL
This appraisal is made for the purpose of estimating the Fair Market Value of the subject
property acquired by the City of Fayetteville under its right of eminent domain in connection
with the Avigation Easement for the Fayetteville Municipal Airport Project. Said acquisition
is for the purpose of airspace rights to the airport for safety reasons. The appraisal will include
all damages and/or benefits, if any, to the extent that benefits are allowed under state law, to
the remaining property as just compensation for the property taken.
PROPERTY RIGHTS APPRAISED
The property is appraised as though owned in fee simple and unencumbered . A fee
simple title is the fullest type of private ownership possible subject to all public limitations
including zoning, taxation, and eminent domain; and also subject to private limitations which
may exist such as easements and restrictions of record.
CONTINGENT AND LMTING CONDITIONS
This property is appraised in fee simple subject to the following limiting conditions:
1 . It is assumed by the appraiser that the maps, construction plans, and/or tract descriptions
furnished to him are correct.
2. It is assumed by the appraiser that the attached deed furnished to him is correct and
reflects the fee owner and all holders of less than fee interests in the property .
3 . It is the opinion of the appraiser that information gathered by him from various sources,
including dates, estimates and opinions, which are contained in this report were obtained
from sources considered reliable; however, no liability for them can be assumed or
guaranteed by this appraiser.
4 . No responsibility for matters legal in character is assumed by your appraiser. All
existing liens and encumbrances have been disregarded, and the property is appraised as
though free and clear.
5 . The various sketches and exhibits included in this appraisal are placed herein to assist the
reader in visualizing the property under appraisal. Your appraiser made no surveys and
accepts no responsibility for them .
6. 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.
THE APPRAISAL PROCESS
A professional appraisal begins with a thorough inspection of the property being appraised . This
includes a physical inspection of the site and all improvements which have contributory value.
It also includes an inspection of the neighborhood and of site improvements which may
positively or negatively affect the value of the subject property. And finally, it includes a review
of the general area of the subject in order to ascertain any favorable or unfavorable
environmental or economic conditions which may exist, such as proximity to markets, poultry
operations, noisy highways, and schools, etc. .
After a thorough analysis of the subject property, its neighborhood, and its general area, the
appraiser then attempts to ascertain a fair market value. Three time tested appraisal approaches
or techniques are utilized in the profession in order to develop a value indication. These three
approaches are the Market Data Approach, the Cost Approach, and the Income Approach. Each
approach is briefly described as follows:
The Market Data Approach - Also known as the Sales Comparison Approach
is a comparison is of similar, recently sold properties to the subject property.
The Cost Approach - Involves estimating the replacement cost new of the
improvements, deducting the estimated accrued depreciation , and then adding the
market value of the land.
The Income Approach - An appraisal method in which the estimated gross
income from the subject property is used as a basis for estimating value along with
gross rent multipliers derived from the marketplace.
Each approach utilizes the various principles of value which exist in the marketplace. These
value principles include supply and demand, balance, contribution , conformity, external items,
opportunity costs, and utmost - substitution. The principal of substitution states simply that a
knowledgeable, prudent purchaser has three alternatives. That is, 1) to buy a vacant site and
construct a duplicate or similar property without delay (Cost Approach), 2) to purchase another
existing property with equal or similar desirability and utility (Market Data Approach) , or 3) to
invest in or acquire a comparably yielding income stream of similar quality, quantity and
longevity (Income Approach) .
All three approaches may not be used in all appraisal assignments depending upon the
applicability of the approach to the property being appraised and the scope of the appraisal
assignment.
After the appraiser applies the applicable approaches to the subject property, he must reconcile
the differences in value so indicated. Based upon the appraiser' s experience and judgment, this
may involve selecting one of the three approaches which is deemed more reliable or it may
involve employing a weighted average of the three approaches in his final correlation or
conclusion of value.
PHOTOGRAPHS
1ect ite - Front Viewof the Subject / Air Above
r 4i
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North Side of Su ect Improvements an P ane in sement Area
.O�' t' .� r:'1.. . � 0 . 11•. - . � � . .
Front1 Northeast Comer 1the Su / ect
PHOTOGRAPHS
M
Southern Portion of the Improvements - Looking North
'� ®� • ::`n �t(,�� fY Y"."-i ' ¢`irpt �. z+�
Southern Portion of Improvements and Land area
4.
--
7'N
Western portion (Rear) of the Subject Site and Improvements - Looking South
PHOTOGRAPHS
Street
Scene,
S.School Avenue
- Looking South
a.
Southern Portion of the Site - Looking South
Northwestern Portion of the Site - Park Area
r
NEIGHBORHOOD DATA AND ANALYSIS
For appraisal purposes, a neighborhood is considered to be a portion of a large
community in which there is a homogeneous grouping of inhabitants, buildings, or business
enterprises. Inhabitants of a neighborhood usually have a more casual community of interest and
a similarity of economic level and cultural background. Neighborhood boundaries may consist
of well defined natural or man-made barriers or they may be more or less well defined by a
distinct change in land use or in the character of the inhabitants.
The subject property is located on South School Avenue in the extreme southern portion
of the City of Fayetteville. Neighborhood boundaries could be Greenland to the south, 15th
Street to the north, Sunrise Mountain to the west, and the Country Club Mountain to the east.
The neighborhood is characterized by small retail/service commercial business properties,
some industrial type properties, and lower to middle income single family residences. The area
lies within the City of Fayetteville Drake Field land and avigation easement acquisition project.
The majority of homesites are older middle to lower income homes which show average pride
of ownership. The majority of the homesites area characterized by wooded hillside tracts on
paved streets.
The neighborhood is supplied police and fire protection by the City of Fayetteville.
Municipal water is available to most portions of the neighborhood by the City of Fayetteville.
Electrical service is available to all the neighborhood. Natural gas is also available to most
portions of the neighborhood. Most portions of the area are served by municipal sewer.
Access to and from the neighborhood is provided by South School Ave. from the north
and south, and Hwy. 71 bypass from the north.
Property values in the area are stable to declining, the growth rate is only moderate to
declining, the predominate occupancy for residential homes in the area is a mixture of owner
occupied and tenant occupied, the general appearance of properties in the area is fair to average
and the appeal to the market for this area is fair to average.
No other unfavorable factors were noted upon inspection of the neighborhood.
DESCRIPTION OF THE SUBJECT PROPERTY BEFORE THE TAKING
SITE
The subject site is a irregular shaped parcel containing approximately 38.82 acres as described
by the legal descriptions provided to the appraiser. The site has access from South School
Avenue on its east side. South School Avenue is a four lane paved highway with a center turn
lane. The site is an open site which is level and at road grade. The site has approximately
1,700' of frontage on S. School Ave. Drainage appeared adequate upon inspection. The site
has access to public water, electricity, natural gas, and sewer service.
1 I' I 1 : I ' • 'MI LI tEl I !�
The partial taking is a permanent non -possessing property interest in airspace over a land parcel
or portion of land. The subject easement includes the whole site (38.82 acres as described by
the engineers). The easement covers 100% of the subject, (see General Remarks). The
avigation easement is for the use and benefit of the public, as easement and right-of-way,
appurtenant to Drake Field Municipal Airport for the unobstructed use and passage of all types
of aircraft in and through the air space above the property above an imaginary plane over the
property. The subject property lies in the Approach Surface and East Transitional Approach
Surface of the Runway Protection Zone. The property site and improvements lie below the
horizontal surface and only a few trees penetrates into this surface zone.
Type: Class C Industrial building
Age: 35 Years & 24 Years
Size: 144,812 sq. ft.
Exterior Walls: Concrete block with brick facade, 16' and 24' side walls
Roof Material: PVC roofing over metal deck. 2 years old.
Foundation: 4"-6" poured reinforced concrete
Frame: Steel
Windows: Single pane metal sash fixed, some hopper type
Insulation: 4" in exterior walls
Heat: Circulated hot water, (2) boilers, 1958 American Standard, 1964 Clever
Brooks
Cool: Air conditioned for humidity control. 260 ton and 520 ton systems, (10) air
handling units
Floors: Oak parque in reception area, concrete in work area, industrial grade vinyl
in break area
Interior Walls: Drywall in reception area, concrete block in others
Electrical: 480 volt setup, 110, 270, 220 transformers
Recessed and dropped flourescent lighting, exposed conduit
Plumbing: .. Men's restroom - (2) circular wash basins, (6) urinals, (10) stalls
Women's restroom - (8) stalls and sinks
Carbon dept. - (1) shower, (2) urinals, (2) stalls, (1) wash basin
Quality of
Construction: Average
Condition of
Improvements: Good
Estimated Remaining
Economic Life: 25-30 years
Other Improvements: (11) overhead doors, (8) loading docks, (2) air compressors, 200,000 gal.
exterior water holding tank, sprinkler system, asphalt and gravel parking
lot, 6' chain link fence with 3 -stand barbed wire, (2) electronic gates,
10,000 gal. above ground deisel fuel tank, (2) parking lot light poles, (1)
flag pole, Abandoned rail spur, Trim removal system, Concrete sidewalks,
Picnic/park area, Lanscaped in front of building, Security system
.
HIGHEST AND BEST USE
By "Highest and Best Use" is meant the most likely and profitable use to which a
property can be put. It is sometimes called the most profitable or optimum use. It is that use
which, at the time of the appraisal, would most likely produce the greatest net return in money
or amenities. The appraiser has analyzed the highest and best use of the subject property before
and after the taking as follows:
Before the Taking
The subject property is currently an improved parcel of land utilized for light industrial purposes
and is zoned for light industrial uses (I-1). Under the current zoning, commercial and industrial,
as well as agricultural and limited residential land uses may be utilized on the site. All utilities
are available for industrial uses. Adjacent property uses include: industrial zoned property to
the north, south, east and west across S.School Ave. Along South School and to the south are
several other industrial facilities similar to the subject.
The major influences of the area near the subject and along South School Avenue is commercial
and industrial uses with good access to S. School and the airport to the south. Its the opinion
of the appraiser that the highest and best use of the subject site as vacant and improved is its
present use as an industrial use benefiting from the proximity to S. School Avenue and the Drake
Field airport.
After the Taking
After the avigation easement has been given the subject will be essentially in the same position
it was prior to the taking, aside from being somewhat limited on expanding any permanent
structures into the easement area above the site and within the boundaries of the easement. As
indicated previously, the average distance between the ground and the horizontal surface
elevation is approximately 72 feet with the lowest point of the horizontal surface being 50 feet
above the southwest comer of the property. It is the opinion of the appraiser that this distance
is adequate for the construction of typical commercial/industrial as well as residential
improvements. Therefore, the subject's highest and best use as vacant after the taking will also
be for a commercial/industrial uses requiring good access and benefit from a close proximity to
the airport and major roadways.
DISCUSSION OF SEVERANCE DAMAGE
Where there is a partial taking of property, such as the case of the subject property, any
loss in value of the remaining property caused by the partial taking is known as severance
damage. The American Institute of Real Estate Appraisers defines severance damages as
follows:
It is the diminution of the market value of the remainder area, in the case of a
partial taking, which arises (a) by reason of the taking (severance), and/or (b) the
construction of the improvement in the manner proposed.
Severance damages are compensable to the property owner if a decline in value is attributable
to the partial taking.
In the case of the subject property, the partial taking is an avigation easement whose
proposed use is for overhead clearance for air traffic flying into and out of the Drake Field
Airport.
The appraiser has reviewed the regulations regarding height restrictions for Industrial (1-1)
zonings. With regards to the "setbacks "from the street, under 1-1 zoning, any structure must
be at least 25' from the street. At a point 25' west of the east line or boundary with S. School
Ave., the property has a maximum of approximately 32.7' and 48' of vertical area to build at
the southeast and northeast corners of the site.
DISCUSSION OF ENHANCED VALUE OR SPECIAL BENEFIT
In some eminent domain cases which result in partial takings, the remaining property may
actually increase in value as a result of some improvement made by the condemning authority.
In these cases the remaining property is considered to receive an Enhanced Value or Special
Benefit. Thus, if the condemning authority takes a portion of a property for an improvement
and this improvement actually increases the value of the remaining land, the amount of just
compensation will be reduced by the value of the special benefit.
It is the appraiser's opinion that the future value of the remaining subject property will not
be enhanced by the taking (Avigation Easement).
FACTOR FORMULA
The purpose of an avigation easement appraisal is to estimate the market value of an easement for flight by aircraft
over a property lying within the Runway Approach Zone. In the case of the subject property, fording evidence from
the market which indicates damages from the effects of avigation easements over real estate is not possible due to
the long time existence of the Drake Field Airport in its present location. Additionally, the market values of the
real estate surrounding the airport have long since adjusted to reflect the appeal of this area close to the airport.
Therefore, in order to quantify the value of the air rights over the subject properties, the appraiser will analyze three
relevant proximal distances of the properties' from the airport.
The analysis involves three dimensions; 1) the distance from the end of the runway to the property, 2) the distance
at a right angle of the Runway Centerline Extended to the property, and 3) the distance of the property below the
Approach and/or the Transitional Surfaces. The two elements which carry the greatest weight and thereby the
greatest loss in value are the distance of the subject below the Approach/Transitional Surface and its distance from
the center line of the Runway Extended. For example, the closer a property is to the end of the runway, centerline
of the runway and/or the approach zone, the greater amount of damage should occur. Conversely, the further a
property is from the end of the runway, centerline and approach zone the less amount of damage will occur.
In estimating the relative damage sustained to the property by each component, 2% relative damage is given to the
distance of the property from the end of the Runway, 3% relative damage is given to the distance of the property
from the Center Line Extended and 5% relative damage is given to the distance which the property lies below the
Approach/Transitional Surface. The largest relative damage is assigned to the distance between the ground and the
Approach/Transitional Surface in recognition of the fact that 1) this is the most hazardous of the three dimensions,
2) this is the most limiting variable to the property's potential, and 3) the continual right of the Grantee to prevent
the erection of structures or growth of trees into the Approach Surface, and the right to remove or light any such
objects, along with the right of ingress and egress over the property. Each damage percentage is relative to the
subject's location within the zones, eg. if the length of the Runway Approach Surface is 5,130' (100%) and the
property is 1,000' from the end of the runway (19.5%), the relative damage to the property is calculated by
subtracting the relative distance from the total distance possible, (100% - 19.5% = 80.5%). Thus, 80.5% of the
total damage sustained to the property will be the result of the distance from the end of the runway.
The above distance variables are compared to the total possible distances or boundaries of the clear zone. These
distances or boundaries are as follows:
1) Total distance of Clear Zone is 5,130.6'
2) Total potential distance from the center line of the runway at a right angle ranges
from approximately 1,300'-1,550' due to the decreasing width of the clear zone as
extends from the runway.
3) Total potential distance of elevation of approach surface above the end of runway
elevation is approximately 150'.
After the calculation of the relative damages for each component, they will be added together to arrive at the factor
which represents the collective damage sustained to the property by the avigation easement. This number represents
the percentage loss in value to the property, as well as the value of the easement purchased.
The advantages of the utilizing the Factor Formula rather than the Market Data Approach are that every parcel of
property is kept relative to all others, and the appraisers will have considered all factors contributing to the loss in
value due to the taking of the easement. Where as the Market Data Approach would distort the valuation process
by taking several sales and trying to relate them to a particular property, and taking other sales and relating them
to another property, and possibly being completely out of line. The Factor Formula is calculated the same way for
each parcel and then multiplied by the Market Value of the subject land before the easement taking.
Those properties, and portions thereof, which are presently encumbered by the existing Clear Zone Easements will
not receive full value as indicated by the Factor Formula. The appraisers have analyzed both the existing and the
proposed easements and have separated those portions of the subject property which are affected by these easements.
The appraisers have also determined the approximate increase in airspace which will be encumbered by the proposed
easement over and above what was presently encumbered. This elevation or distance was then compared to the total
horizontal surface elevation. It was determined from this analysis that the existing easement contributes
approximately 75 % of the appropriate air space and that the proposed easement will encompass an additional 25 %
of the appropriate air space. Consequently, the appraiser will use only 25 % of the indicated factor formula for those
portions of the subject presently encumbered by the existing clear zone easement. Furthermore, those portions of
the subject property not presently encumbered will receive 100% of the value indicated by the Factor Formula.
Those properties, and portions thereof, which are presently encumbered by the existing Mals Lighting Easement
will not receive additional compensation for the area of the Mals Lighting Easement. The Mals Lighting Easement
Surface is present over certain property which are close in proximity to the Runway and rises at a slope of 50:1.
The location of this Easement Surface is below the proposed Approach Surface.
Factor Formula Cont'd
The subject property sustains the following damage under the Factor Formula.
1) 1,837.5'/ 5130.6' = 35.8% of value complement
64.2%lossX2% = 1.28
2) 717/ 1450' = 49.4% of value complement
50.6% loss X 3% = 1.52
3) 48.05'/ 150' = 32.0% of value complement
68.0 lossX5% 5% = .3.40
6.12%
Application of the Factor Formula:
Zone
A:...................
Area
of Whole Property
Zone
B:...................
Area
of Property Encumbered
by
Proposed Easement
(Expressed both as a Percentage and a Whole Number)
Zone C:................... Area of Proposed Easement Not Presently
Encumbered by Existing Clear Zone Easement
Zone D:................... Area of Proposed Easement Presently Encumbered
by Existing Clear Zone Easement less the Mals Lighting Easement
(See General Remarks)
Zone E:................... Area Encumbered by the Mals Lighting Easement
(See General Remarks)
The end goal of this application is to estimate the value of the easement on Zone C, Zone D, and the Total
of both which is the Value of the Proposed Easement based on the Factor Formula
1) Zone A x Zone B = Area of Whole Easement
38.82 Acres x 100% = 38.82 Acres
2) Zone B -
38.82 ac. -
3) Zone C X
11.94 ac. X
4) Zone D X
24.08ac. X
Zone D -
24.08ac. -
Market Value X
Per Acre
$5,000 X
Market Value X
Per Acre
$5,000 X
Zone E _
2.80 ac. _
Full =
Factor Formula
6.12% _
25% of =
Factor Formula
1.53% _
Zone C
11.94 ac.
Value of
Zone C Easement
$3,653.64
Value of
Zone D Easement
$1,842.12
5) Value Zone C + Value Zone D = Value of Proposed Etseme t
$3,653.64 + $1,842.12 = $5,495.76
Calculations for #3-4 will be transferred to the front page in the Determination and Allocation of F.M.V. of
Acquisition section.
v" I
MARKET DATA APPROACH
(LAND ONLY)
ANALYSIS OF THE MARKET DATA AND CONCLUSION OF VALUE
The Market Data Approach is an attempt to measure the reaction of typical buyers and sellers in
the market. In this approach a direct comparison is made between the property being appraised and
comparable properties which have sold recently. The value of the property being appraised is inferred
from the selling prices of comparable properties. To be "comparable," a property need not be identical
to the subject. The word "comparable" is used in its ordinary sense, meaning something which is capable
of being compared with or worthy of comparison.
The appraiser has conducted a search for recent land sales in the vicinity of the subject property
which could be considered comparable to the subject. The attached four sales were deemed comparable
to the subject property.
After analysis of these land sales, these sales reflect a value range of $4,454 to $16,024/Acre.
The values indicated by dollar per acre suggest a wide range of values which is due to several of the sales
smaller size. It is the appraiser's opinion that the subject's value would fall with in the mid section of
the dollar per acre range due to its large size and utility for industrial use in this location.
Based upon the above sales and analysis thereof, and after adjustments are made for differences
in size, location, terrain, zoning, availability of utilities, access and other economic factors, it is the
opinion of this appraiser that the Fair Market Value of the subject property as of the date of this appraisal
is as follows:
38.82 Acres Q $5,000/Ac. _ $194,100
Say $194,000
Value Before the Taking:
Land: $ 194,000
Imps*: $2.050.000
Total: $2,244,000
Value After the Taking: Land: $ 188,500
Imps*: $2.050.000
Total: $2,238,500
Value of the Partial Taking: $ 5,500
* See Cost Approach for Valuation of Subject Improvements
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' CITYPROPERTY
LAND SALE #1
Grantor:
Fayetteville Development Foundation
Grantee:
Mostare Manufacturing Corporation
Location:
Fayetteville Industrial Park - West
Legal:
Lots 8 & 9, Final plat of Fayetteville Industrial - West
Date of Sale:
April 15, 1988
Recorded:
Book: 1266 Page: 231
Consideration:
$ 457,000
Size:
28.52 Acres
Improvements:
None
Zoning:
(I-1) Light Industrial
Indicated Price:
$ 16,024/Acre
LAND SALE #2
Grantor: M.C.W.W Corporation
Grantee: Hanna, Burt; Hanna, Thad
Location: Corner of Highway 16 and Armstrong Street
Legal: Pt. of the NE/4, SE/4, Section 22, T16N, R30W
Date of Sale: October 22, 1992
Recorded: Book: 92 Page:54634
Consideration: $ 102,000
Size: 22 Acres
Improvements: None
Zoning: (I-1) Light Industrial
Indicated Price: $ 4,636/Acre
LAND SALE #3
Grantor: MCWW Corp.
Grantee: Bert Hanna
Date: 10/18/91
Legal: Pt. NE, SE, Sec.22, T16N, R30W.
Land Size: 8.8 Acres
Improvements: None
Sales Price: $40,000
Remarks: Located on 15th Street in southern Fayetteville. Zoned
Industrial. 3 Acres in the flood plain. All clear level land
with approximately 300' of frontage. Cash Sale.
Book: 1438 Page: 031 Indicated Price; $133/Front Foot,
$.10/sq.ft., $4,545/Acre
LAND SALE #4
Grantor: FDIC/Northwest National Bank
Grantee: Robert Owen McBride
Date: 9/16/92
Legal: Pt. N1/2, SW, Sec.28, T16N, R30W.
Land Size: 7.54 ac.
Improvements: None
Sales Price: $44,000 or $5,836/ac
Remarks: Recorded 92-48027. Zoned Industrial. Located south of
Mexican Original Plant. 390' Frontage on S.School. All utilities
available. Verified by Agent. Indicated price of
$112.82/Front Foot, $.13/sq.ft., $5,836/Acre.
Sale#
Date
Size
Price
/Acre
1
4/88
28.52ac.
$457,000
$16 024/ac.
2
10/92
22ac.
$102,000
$ 4,636/ac.
3
10/91
8.8ac.
$40,000
$ 4,545/ac.
4
9/92
7.54ac.
$44,000
$ 5,836/ac.
THE COST APPROACH
The Cost Approach is based upon the principle of substitution which states that:
"A purchaser will not pay more for an existing property than the cost to reproduce it
in the current market & in a similar location."
The Cost Approach is particularly applicable when the subject improvements are new or
relatively new and represent the highest & best use of the land; and also when the subject
improvements are unique or special purpose improvements for which there exists few if any
comparable properties in the market.
The Cost Approach for commercial buildings such as the subject property
indicates a value estimate as follows:
1) Reproduction or Replacement Costs of all existing improvements based upon
current labor & material costs is estimated.
2) Any depreciation due to physical, functional or external inadequacies is
deducted from the cost estimate.
3) The estimated value of the land is then added to the depreciated cost to obtain
a total value estimate for the subject property.
The traditional method of determining the value of land is by comparing the subject site to
comparable properties which have sold recently. The following land sales have been
researched and analyzed and are used as the basis for determining the subject's land value.
ESTIMATED CONSTRUCTION COST OF THE SUBJECT IMPROVEMENTS
The following cost estimates were prepared by the appraiser from data in his files regarding
local building costs and discussions with local building contractors. These costs were
compiled with the assistance of the Marshall & Swift Valuation Service and checked where
possible with local contractors and suppliers. Depreciation estimated is based on observed
deterioration, age, functional shortcomings if any, and other economic factors.
COST ESTIMATE - STANDARD REGISTER PRINTING PLANT
Class: "C"
Quality: Average
Condition: Good
Effective Age: 20-25 yrs.
Number of Stories: One
Average Story Height: 16-24'
Floor Area: 144,812 sq.ft.
Main Structure
Calculator Square Foot Cost $24.95
Heating & Cooling Refinement $ 2.89
Sprinkler System 1.06
Refined Square Foot Cost $28.90
Story Height Multiplier 1.136
Floor Area -Perimeter Multiplier .877
Current Cost Multiplier 1.000
Local Cost Multiplier .840
Basic Square Foot Cost $24.19
144,812 Sq.ft. @
$24.19/Sq.ft.
_
$3,503,002
Office/Cafeteria Finish
Apr. 15,000
sq.ft. @ 20.00/sq.ft.
_ $ 300.000
Total Cost New of
Main Structure
=
$3,803,002
Less Depreciation:
Physical (20/40 = 50%)
$1,751,501
Functional (
0 )
0
External (
0 )
0
Total Depreciation
$1,751,501
($1.751.5011
Depreciated Value
of Main Structure
$l.751.501
Miscellaneous Improvements
Loading Docks Apr. 5,000 sq.ft. @ $11.45 =
$
57,250
Overhead Doors (11) @ $ 1,600 =
$
17,600
Air Compressors (2) @ $15,000 =
$
30,000
200,000 gal.Water Storage Tank =
$
87,750
10,000 gal. Deisel Fuel Tank =
$
39,300
Security Fencing Apr. 3,380' @ $8.00 =
$
27,040
Asphalt Parking Lot Apr.91,850 sq.ft. @ $1.50 =
$
137,775
Concrete Sidewalks & Paving Apr. 14,852 sq.ft @ $2.25 =
$
33,417
Trim Removal System =
$
35,000
Security System =
$
10,000
Landscaping =
$
5,000
Flag Pole =
$ 1.000
Total Cost New of Miscellaneous Improvements
$
481,132
Less Depreciation
Physical (15/40 = 38%) $182,830
Functional ( 0 ) 0
External (0) 0
Total Depreciation $182,830 ($ 182.8301
Depreciated Value of Miscellaneous Improvements $ 298,302
Summary of the Cost Approach
Depreciated Value of the Main Structure $1,751,501
Depreciated Value of the Miscellaneous Improvements $ 298.302
Total $2,049,803
Total Depreciated Value of Standard Register Plant $2,049,803
Say $2,050,000
[VIII] DISTRICT I-1. HEAVY COMMERCIAL AND LIGHT INDUSTRIAL
[A] Purposes
The heavy commercial district is designed primarily to accommodate certain
commercial and light industrial uses which are compatible with one another but
are inappropriate in other commercial or industrial districts. The light
industrial district is designed to group together a wide range of industrial uses,
which do not produce objectionable environmental influences in their operation
and appearance. The regulations of this district are intended to provide a
degree of compatibility between uses permitted in this district and those in
nearby residential districts.
[B] Uses Permitted
Unit
1 -
City-wide uses by right
Unit
3 -
Public protection and utility facilities
Unit
4 -
Cultural and recreational facilities
Unit
6 -
Agriculture
Unit
12-
Offices, studios and related services
Unit
13-
Eating places
Unit
17-
Trades and services
Unit
18-
Gas service stations and drive-in restaurants
Unit
21-
Warehousing and wholesale
Unit
22-
Manufacturing
Unit
25-
Professional offices
Unit
27-
Wholesale bulk petroleum storage facilities with
underground storage tanks
(Ord.
No. 2098,ssl,4-15-75; Ord. No. 2140,ssl,8-19-75; Ord. No.
2298,ssl,12-21-76;
Ord. No. 2430,ssl,3-21-78)
[C] Uses Permissible on Appeal to the Planning Commission
Unit 2 - City-wide uses by conditional use permit
Unit 19- Commercial recreation
Unit 20- Commercial recreation - Large sites
Unit 28- Center for collecting recyclable materials
(Ord.No. 2298,ss2,12-21-76; Ord. No. 2351,ss5,6-21-77)
[D] Bulk and Area Regulations
Setback lines shall meet the following minimum
requirements:
From street R -O -W (when adjoining A or
R districts)..... . . . . .......... . . . . . . . . .50 feet
From street R -O -W (when adjoining C,I,F,or P
districts).... .. . ... . .. ........... . ..25 feet
Side (when adjoining A or R districts)..... .50 feet
Side (when adjoining C,I,F,or P
distracts)...........................10 feet
Rear (when adjoining A or R districts).......25 feet
Rear (when adjoining C,I,F,or P districts)... 10 feet
(Ord. No. 2516,ssl,4-3-79)
[E] Reserved. (Ord. No. 2516,ss2,4-3-79)
[F] Height Regulations
There shall be no maximum height limits in I-1 District, provided,
however, that any building which exceeds the height of 25 feet shall be set
back from any boundary line of any Residential District a distance of one foot
factor each foot of height in excess of 25 feet.
( 1pIXX 9GUF : r - TOO')
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7
YI
PARCEL N0.765-15531-000 C
COMMERCIAUINOUSTRIAL
REAL
148596-000-00
YEAR
ESTATE RECORD CARD
APIUIML SUMPS
1995
ND Of GARn3 CARD ND
%OP
APPRAISAL
L OWNERSHP RECCrO AND DESCRIPTION
•
Standard Register Co.
Pt SW NW & Pt. NW SW 33-16-30
38.82^Fay Outlots
/ •u
SUCI Two Anq,
01 BIOLL
AuenSI. r.IY FayattevilII
le
r
551.
LTOTAL
I
.
LAND
Qf
✓�'(_.�ZvO
-
emlgPGs
F .
Jig!
)
/ =.2IEI
-'
REVIEW RECORD
ASSESSMENT SUMMARY
DATE
BY
REMARKSW�YEM
COMPARABLE SALES DATA
DATE OF SALE AMOUNT DATE OF BALE
AMOUNT
TOTAL
SUILDINO PERMIT RECORD
YEAR
OAT[
AMOUNT
PURPOSE
LAND
SLOGS
TOTAL
OWNERSHIP RECORD
CORRELATION OF VALUE
A!!
VOL
PAGE
CONSIDERATION
REMARKS
VALUE BY COST APPROACH
YEAR
FRONT I REAR I FRONT
FIGURE
. i .L. . 1' J. / J
DISTRICT TREND
IMPROVING
[_STATIC
.__DECLINING
_ NEW
OLD
VALUE BY INCOME APMOACN LAND
VALUE BY COMPARABLE SALES
FINAL ESTIMATE OI VALUE SLDOS
TOTAL
LAND RECORD AND COMPUTATION OP VALUI
DEPTH DEPTH ACTUAL YEAR
AVE F F PRICE PERCENT I.F MICE SUBTOTAL CORNER ADJUSTMENT TOTAL
AND
_•i(,.�fl
BLDOS
TOTAL
STREET
TOPOGRAPHY„
LANDSCAPING
' UTILITIES
.
YEAR
CONCRETE
_LOW
_EXCELLENT
_ALL
LANG
.CASRNLT
.WON
_0000
GAS
SLOGS
-
ROUGH
'QC_ AVEAAOEE
- ELECTRIC
— GRAVEL
_POLLING
_POOR
— WATER
TOTAL
—MAT
FLAT
_PONE
_EEWU
J
C
C
r
I
N
I-
0'
0
I.
1n
'.I. L. v 4,y' r a :• t'..:. 'r rrJ !a`.iS G,yl N y•
WAlZRANTY DEED w�5�ARKA SASS
(CORPORATION.)
MAR 19 10 �s All 1951
KNOW ALL MEN BY THESE PI NTS: I l n D 1 HOP El.
That —ElIUi
y,�
a corporation ol'ganMa
Krti
----
by Its •#'resident ai►4
eration of the sums
In hand paid by h
the receipt of ;ship
•-9tanduii
Untn - its
Is"
f. the_.Soui
8aribed.ss
Of.�aid:;i01
_the..;
said
-38.-i
,a :rc L... -
Commerce.
Aege, ..:: ^
CI CUhrr.C a
' � 1 Imitate of rk n
I. ,ro(ry�fe:'of the laws of the A a_� _.•—_ 1
i • byproper resolution of its Board of Directors, for the consid-
tker al abl iol ergticna Dollars �,.,
r
er Company _ _
loe9 rant, bafgain, sell and convey unto the eaid_-.-y--
,,,;�.�e� , r'
' r
_ and -.-..
._—_
forever, the following described land, situate in the County of_.-. .._--. \
_ to'of Arkansas, to -wit: t
{1Y> niche NorthwesLQuarter-and-the-NDxihw"t_Quarter.
'� to TOWa_ a 1.�•�IIT�ll,fRnngE SO Wpat ,ia-
" yiij� at a point on the.-Eant_line- Ott11e-Str.Louis. &
found by heginni� ng at ±h"orthwest_corner
Q111AV4�erof Secti}.on33�L, Iand- running —
S
r ' • �henCQ n.�(h .1'2�. Egs J 2. feet tU .d.._ ,
•''tstpy4 .:i'
a -S oidLZ5O4e.t _..._
•
1Yyr h with the
.:_••� luth line of the"Nnrthvragt ,arter
West 702 feet fn the"Etiat lino of •1;r
West 1984 feet to th oint of be cgntsitiing
t. IN
.,r i."
TO HAVE. At
forever, with
Comment
will forever.
INTI
seal,affixed;
;Yi1.
—
y , I •.M 1.
le unto the said The Standard Registe Compan
'_ .. ee Ors..... _.:
and unto�� _ _ anu aeslgns
1 belonging. And FayeiieMilla- A rkanaaar_chambe,F,ot
y convenantwith the said ZhaStandg,rdRegister Company
r— ____ that •__
(nr of CommerceCnrnmree. Inc. -- -
{b said lands against all claims whatever.
.Lame of the grantor is hereunto affixed by Its President and Its
of Marrh 1951.
FAY T.TEV E KANSAS,
}
. • Y ':\ YL 1• Y .T
�T�n,• •1•'�M Y•MIl JY � �" LI i. , -., `,•.%� F • 1.
\ a f P ra , T� L _ • i I] = 2/4
• I`
1 wm ER 55[[ R .2IO" C' W
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\n\\\\\\\\\ B CINT •�{•/' .�( I pj ! 6 LEE ST.
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^
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� 4" E,Y.� $ ION
.1111
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