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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,
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\ No. CG0202/ 4.r?
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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"
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•
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.P,-; STATE Vo
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.S)f
CERTIFIED ‘.
GENERAL *
\NO. CG0202/
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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
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L.:8 ccp:',/ STATE .....fh %
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0-E1.EPAL l A .1
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*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.