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HomeMy WebLinkAbout53-95 RESOLUTIONRESOLUTION NO. 5 3 9 5 A RESOLUTION APPROVING PAYMENT IN THE AMOUNT OF $43,510.00 AS JUST COMPENSATION TO THE DUANE B. NELSON REVOCABLE TRUST FOR THE PURCHASE OF LAND AND THE USE OF LAND NECESSARY FOR THE INTERSECTION IMPROVEMENT AT JOYCE BOULEVARD AND HIGHWAY 71B. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1. That the City Council hereby approves payment in the amount of $43,510.00 as just compensation to the Duane B. Nelson Revocable Trust for the purchase of land and the use of land necessary for the intersection improvement at Joyce Boulevard and Highway 71B. A copy of the appraisal report is attached hereto marked Exhibit "A" and made a part hereof. PASSED AND APPROVED this 4th day of April , 1995. APPROVED: By: PROJECT: COUNTY: TRACT: LOCATION: FEE OWNER ADDRESS: APPRAISAL REPORT FOR CITY OF FAYETTEVILLE Joyce Street Expansion and Widening Washington JOB #94P2.03 #15597, Nelson Funeral Borne W.Joyce Street,Fayetteville, AR Duane Nelson 3939 N.College Ave., Fayetteville, AR 72703 ESTATE APPRAISED: Fee Simple AREA OF WHOLE: 3.02 acs AREA OF ACQUISITION: .125 acres , (Legal Description attached) TEMPORARY CONSTRUCTION EASEMENT AREA OF RESIDUAL: .119 acres ESTIMATED FAIR MARKET VALUE OF THE PROPERTY: Before Land Improvements Total After Land Improvements Total $ 658,000 $ 283,500 $ 941 500 $ 630.750 $ 283.500 $ 914.250 FAIR MARKET VALUE OF ACQUISITION As of 27th day of January 19 95 ALLOCATION OF F.M.V. OF ACQUISITION Land 5,450 sq.ft. at $5.00/Sq.ft. $ 27.250 T.C.E.* 5,167 sq.ft. @ $5.00/Sq.ft. x .09 $ 2.325 Improvements: None Total Improvements Total Land, T.C.E., (R. Improvements Damages or Benefits** Total Compensation ATTACHMENTS: X Certificate of Appraiser $ 0 $ 29 575 $ 0 $ 29 575 2.895 acres $ 27.250 X Photographs Appra X Neighborhood Data X Zoning, 1-1&B Use & Narratitie X General Information X Market Data Approach X Plat X Tax Assessment Card Mark . Risk Date APPM• ICF_IITIPC18, ESRTTAITFIEE; t+lje:-; CENERAL \ No. CG0202/ 4.r? # K E. Fk -11/unitininihoo` itLLMIILD SUMMARY APPRAISAL REPORT* Temporary Constniction Easement (LC E.) value is based upon Current Yield on One Year CD's over 1 year expected construction period and premium for inconvenience. PROJECT COUNTY TRACT LOCATION FEE OWNER ADDRESS APPRAISAL REPORT FOR CITY OF FAYETTEVILLE Joyce Street Expansion and Widening Washington JOB #94-203 #15710, Ramada Inn W.Joyce Street,Fayetteville, AR Duane Nelson 3939 N.College Ave., Fayettevitle,AR. 72703 ESTATE APPRAISED Fee Simple AREA OF WHOLE 4.6 acs AREA OF RESIDUAL AREA OF ACQUISITION .006 acres (Legal Description attached) TEMPORARY CONSTRUCTION EASEMENT .018 •Ac 4.594 acres ESTIMATED FAIR MARKET VALUE OF THE PROPERTY: Before Land Improvements $ 1,001.880 $ 1,176,200 Total $ 2.178,080 After Land Improvements Total $ 1.000 630 $ 1 176200 $ 2 176 830 FAIR MARKET VALUE OF ACQL1SITION As of 27th day of January 19 95 1.250 ALLOCATION OF F.M.V. OF ACQUISITION J and 250 sq.ft. at $5.00/Sq.ft. $ 1.250 T.C.E.* 776 sq.ft. @ $5.00/Sq.ft. x .09 $ 349 Improvements: None Total Improvements Total Land, T.C.E., & Improvements Damages or Benefits** $ 0 $ 1.599 $ 0 Total Compensation $ 1 599 ATTACHMENTS• X Certificate of Appraiser X Pbotogmphs X Neighborhood Data X Zoning, li&B Use & Narrative X General Information X Market Data Approach X Plats X Tax Assessment Cards App ser Mark E. isk Date *LIMITED SUMMARY APPRAISAL REPORT* .m.06A.pt24-1" ..(7214GUMFia4,g • — .P,-; STATE Vo *i .S)f CERTIFIED ‘. GENERAL * \NO. CG0202/ leK E. /tormassianat0 Temporary Construction Easement (T.C.E.) value is based upon. Current Yield on One Year CD's over 1 year expected construction period and premium fOr inconvenience. PROJECT COUNTY TRACT LOCATION FEE OWNER ADDRESS APPRAISAL REPORT FOR CITY OF FAYETTEVILLE Joyce Street Expansion and Widening Washington JOB #94-203 #157I2, NW AR Florist W.Joyce Street, Fayetteville, AR 72703 Duane Nelson 3939 N.College Ave , Fayetteville,AR. 72703 ESTATE APPRAISED Fee Simple AREA OF WHOLE .50 acs AREA OF RESIDUAL AREA OF ACQL1SITION .035 acres. (Legal Description attached) TEMPORARY CONSTRUCTION EASEMENT .035 Ac .465 acres ESTIMATED FAIR MARKET VALUE OF THE PROPERTY: Before Land Improvements $ 108.900 $ 117.200 Total $ 226,100 After Land Improvements Total $ 101 215 $ 117,200 $ 218.415 FAIR MARKET VALUE OF ACQUISITION As of 27th day of January 19 95 ALLOCATION OF F.M Land 1,537 sq.ft. T.C.E.* 1,531 sq.ft. Improvements: None Improvements $ 7,685 .V. OF ACQUISITION at $5.00/Sq.ft. $ 7 685 $5.00/Sq.ft. x 09 $ 689 Total Land, T.C.E., & Improvements Damages or Benefits** Total Compensation • ATTACIIMENTS: X Certificate of Appraiser $ 8374 $ 0 $ 8 374 X Photographs Appra X Neighborhood Data X Zoning, li&B Use.& Narrative X General Information X Market Data Approach X Plat X Tax Assessment Card er, Mark E. Eisk 0%11111(1111MM El lte 0.2- ( - PC-- L.:8 ccp:',/ STATE .....fh % a. z-; CERTIFIED .2.,I1, fs Fs* ‘ 0-E1.EPAL l A .1 r.s. \ No. CG0202:1 .rc? *LIMITED SUMMARY APPRAISAL EEPORV ......... Temporary Construction Easement (T.C.11.) value is based upon Current Yield on Onelmiiiirui 1 year expected construction period and prenitum fen inconvenience.