HomeMy WebLinkAbout830518.tiff AR193O8O6
RESOLUTION
RE: APPROVE SALE OF LOTS 17 AND 18, LA SALLE, COLORADO AND
AUTHORIZATION FOR CHAIRMAN TO SIGN
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WHEREAS, the Board of County Commissioners of Weld County, ^ t;
Colorado, pursuant to Colorado statute and the Weld County Home ter:
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Rule Charter, is vested with the authority of administering the
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affairs of Weld County, Colorado, and z .4
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WHEREAS, Dr. James R. Barton has submitted a bid to purchase T n
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certain real property owned by Weld County, Colorado which is
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more particularly described as follows , to-wit: T N.
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Lots 17 and 18 , Block 5 , McCutcheon ' s Sub-
division, Town of La Salle, County of
We'd, State of Colorado
WHEREAS, Dr. James R. Barton has offered a purchase price
of $15 ,200 , and
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WHEREAS , the Board, after review of this matter, deems it
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advisable and in the best interest of Weld County to accept said
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offer from Dr. James R. Barton.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Com- �
missioners of Weld County, Colorado that the sale of Lots 17 and r
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18 , La Salle, Colorado, as hereinabove described, be, and hereby
is, approved for the purchase price of $15 , 200 .
BE IT FURTHER RESOLVED by the Board that the Chairman be,
and hereby is, authorized to sign the Warranty Deed between the
County of Weld, a body corporate and politic of the State of
Colorado, Seller, and Dr. James R. Barton, Purchaser, a copy
of said Deed being attached hereto and incorporated herein by
reference.
BE IT FURTHER RESOLVED by the Board that the Chairman be,
and hereby is , authorized to sign the contract for sale of said
Lots 17 and 18, a copy of said contract being attached hereto
and incorporated herein by reference.
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Page 2 _ r
RE: SALE OF LOTS 17 & 18 , LA SALLE, COLORADO _
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The above and foregoing Resolution was, on motion duly made r =
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and seconded, adopted by the following vote on the 15th day of o
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June, A.D. , 1983 . z o
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BOARD OF COUNTY COMMISSIONERS
ATTEST: AQcy. 'e4.O.j v WELD COUNTY, COLORADO r.i
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Weld County Clerk and Recorder
and Clerk to the Board C ck Carlsofi, Chairman = w
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By: 'II. c a.c KiLt—� 21611.1 r h7«edi,' 'v.
_ y Count Clerk J n T. Martin, Pro-Tem T
.rAPPROVE{l AS TO FORM: Lil rz ,
0 f'° Gene R. Brantner 1 T
1 r//� a Tz co
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County Attorney Norman Carlson
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PS Form3811,July 1982
Recorded at o'clock M, on Book Page
Reception No. Recorder
1larrantj (Drat y v
THIS DEED is a conveyance of the real property described below, including any improvements and other alNO
appurtenances (the "property") from the individual(s), corporation(s), partnership(s) or other entity(ies) .^., •a
named below as GRANTOR to the individual(s) or entity(ies) named below as GRANTEE. a �:
The GRANTOR hereby sells and conveys the property to the GRANTEE and the GRANTOR warrants the title to M
the property, except for (1)the lien of the general property taxes for the year of this deed, which the GRANTEE .c
will pay (2) any easements and rights-of-way evidenced by recorded instruments (3) any patent reservations
and exceptions (4) any outstanding mineral interests shown of record (5)any protective covenants and restric- z
tions shown of record, and (6) any additional matters shown below under"Additional Warranty Exceptions". Z W
The specific terms of this deed are: 1
GRANTOR: tGrve flamers) and places) of residence, if the spouse of the owner-grantor rs Joining in this Deed to release homestead rights. `D`'
rdentlly grantor< as husband and wife )
The Board of County Commissioners of Weld County, Colorado. r4 0
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GRANTEE: (Give name(s) and addressles), statement of address, including asadable road or street number is required )
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James R. Barton w
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FORM OF CO-OWNERSHIP: Ilf there are two or more grantees named. they will be considered to take ac tenants in common unless 3' �,
the words"in aunt tenancy" or words of the same meaning are added in the space below ) r
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PROPERTY DESCRIPTION: (Include county and state ) E ya
Lots 17 and 18, Block 5, McCutcheon 's Subdivision, Town of La Salle, County of o
Weld, State of Colorado. E o
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CONSIDERATION: (The statement of a dollar amount is optional, adequate consideration for this deed will he presumed unless this
omesanre is identified as a gift, in any case this conveyance is absolute final and um ondrtronal )
FIFTEEN THOUSAND TWO HUNDRED DOLLARS ($15,200)
RESERVATIONS-RESTRICTIONS: (If theGRANTOR intends to reserve any interest in the property or to convey less than he owns or •
if the GRANTOR is restricting the GRANTEE'S rights in the property, make appropriate indication )
Taxes, agreements, restrictions, reservations, covenants and easements of
record, if any.
ADDITIONAL, WARRANTY EXCEPTIONS: (In(lode rnort gages heing assumed and other matters not covered above I
BOARD OF COUNTY COMMISSIONERS
ccSS WELD COUNTY, COL 0
Signed on c-9 6 , 19_x? B .
A • `7 Chu < Carlson, hairman Grantor
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• S -" r ��u1._, CR--s'-��r Grantor
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"..St ' OLO�ORRADO ) 0 Q / CO1U{ ) ss.
Uf3T Grantor
h ��� Ye7 resgotrtAnstrum was acknowledged before me this oO� day of , 193-5
IlT4ttS581 hand and official seal,
� ,p(,/f{3i1„�btra scion expires: $/7186 —
4 9/�4ts` -�,1�c1-.2tLot�ry� Public
F nSrTA�TF,fOb` ss. PI)Le 4-41, CD most
COUNTY OF
'The foregoing instrument was acknowledged before me this day of , 19
by
WITNESS my hand and official seal.
My commission expires:
Notary Public --_--
1977 UPDATE LEGAL FORMS No ;'01
P.O. BOX 1815, GREELEY, COLORADO 80632
VACANT LAND
CONTRACT TO BUY AND SELL REAL ESTATE
(Remedies Include Specific Performance)
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c e May 31 , 19 83
1. The undersigned hereby acknowledges having received from
3 Dr. James R. Barton the sum of $ 1,200.00 , in the form of certified
funds, to be held by Weld County, in trust account, as earnest money and part payment
W for the following described real estate in the Town of LaSalle, County of Weld, Colorado,
tc to wit:
V
ti Lots 17 and 18, Block 5, McCutcheon's Subdivision, Town of LaSalle
together with all easements and wa rights of
appurtenant thereto, hereinafter called
the Property. g way
2. The undersigned q J g person (s) Dr. James R. Barton
c z hereinafter called Purchaser, hereby agrees to buy the Property,n r p y, and the Board of County
+ Commissioners of Weld County, hereinafter called Seller, hereby agrees to sell the
`- Property
Y p ty upon the terms and conditions stated herein.
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3. The purchase price shall be U.S. $ 15,200.00
payable as follows:
3 $ 1,200.00 which is 8% of sales price hereby receipted for and the remainder to
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o be paid in cash or certified funds upon date of closing and delivery of deed.
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a z 4. Price to include vacant land only.
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5. Cost of any appraisal for loan
purposes to be obtained after this date shall
be paid by Purchaser.
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6. Seller to provide warranty deed only. Title insurance not to be provided
by Seller.
7. The date of closing shall be the date for delivery of deed as provided in
paragraph 8. The hour and place of closing shall be as designated by Seller.
8. Title shall be merchantable in Seller, except as stated in this paragraph and
in paragraphs 9 and 10. Subject to payment or tender as above provided and compliance
by Purchaser with the other terms and provisions hereof, Seller shall execute and deliver
a good and sufficient general warranty deed to Purchaser on June 15, 1983, or, by mutual
agreement, at an earlier date, conveying the Property free and clear of all taxes, and
free and clear of all liens for special improvements installed as of the date of Pur-
chaser's signature hereon, whether assessed or not; free and clear of all liens and
encumbrances, and except the recorded and/or apparent easements and subject to building
and zoning regulations.
* Purchase price shall be $15,200.00 or appraised value, whichever is higher.
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9. Except as stated in paragraphs 8 and 10, if title is not merchantable and o
written notice of defect(s) is given by Purchaser or Purchaser's agent to Seller
or Seller's agent on or before date of closing, Seller shall use reasonable effort
to correct said defect(s) prior to date of closing. If Seller is unable to correct
said defect(s) on or before date of closing, at Seller's option and upon written a
notice to Purchaser or Purchaser's agent on or before date of closing, the date of
closing shall be extended thirty days for the purpose of correcting said defect(s) . Z tN
Except as stated in paragraph 10, if title is not rendered merchantable as provided -
in this paragraph 9, at Purchaser's option, this contract shall be void and of no n' ^=
effect and each party hereto shall be released from all obligations hereunder and all
payments and things of value received hereunder shall be returned to Purchaser. '—';, 0
10. Any encumbrance required to be paid may be paid at the time of settlement
from the proceeds of this transaction or from any other source. Provided, however, z C
at the option of either party, if the total indebtedness secured by liens on theCO
Property exceeds the purchase price, this contract shall be void and of no effect r^
and each party hereto shall be released from all obligations hereunder and all pay77
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ments and things of value received hereunder shall be returned to Purchaser.
11. Possession of the Property shall be delivered to Purchaser on closing date. r=fli
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12. In the event the Property is substantially damaged by flood or other t
casualty between the date of this contract and the date of delivery of deed, Purchaser �m�.
may elect to terminate this contract; in which case all payments and things of value
received hereunder shall be returned to Purchaser. £ v
13. Time is of the essence hereof. If any note or check received as earnest
money hereunder or any other payment due hereunder is not paid, honored or tendered
when due, or if any other obligation hereunder is not performed as herein provided, N
there shall be the following remedies:
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(a) IF SELLER IS IN DEFAULT, (1) Purchaser may elect to treat this contract
contract as terminated, in which case all payments and things of value received
hereunder shall be returned to Purchaser and Purchaser may recover such damages
as may be proper, or (2) Purchaser may elect to treat this contract as being in
full force and effect and Purchaser shall have the right to an action for specific
performance or damages, or both.
(b) IF PURCHASER IS IN DEFAULT, (1) Seller may elect to treat this contract
as terminated, in which case all payments and things of value received hereunder
shall be forfeited and retained on behalf of Seller and Seller may recover such
damages as may be proper, or (2) Seller may elect to treat this contract as
being in full force and effect and Seller shall have the right to an action for
specific performance or damages, or both.
(c) Anything to the contrary herein notwithstanding, in the event of any
litigation arising out of this contract, the court may award to the prevailing
party all reasonable costs and expense, including attorneys' fees.
14. If this proposal is accepted by Seller in writing and Purchaser receives
notice of such acceptance on or before June 13, 1983, this instrument shall become
a contract between Seller and Purchaser and shall inure to the benefit of the heirs,
successors and assigns of such parties.
S X .4. Subscribed and sworn to before me this
Purch er James R. Barton
31 th day of May • cQ9 l Ziicy83,
Purchaser S p0:' Si's
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Purchaser's Address: „ ` `
21g 2nd Street No ary Public %: 4,,
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LaSalle. Colorado 80645 My commission expires Se, r ber•.•1Q,'],986
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(The following section to be completed by Seller) G
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15. Seller accepts the above proposal this 15th day of June T
19 83 . ,
SELLER: z w
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BOARD OF WELD COUNTY COMMISSIONERS C"` v
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Chuck Carlson, Chairman 6,-e2,—"t
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Seller's Address: w T
915 10th Street
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Greeley, Colorado 80631
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ATTEST:
DR R Ev
WELD COUNTY
AND CLER 4. , /
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BY' o o-
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epu County Clerk
L n'
GENCY I arry R•I'll hnionnrN [roperucs
L AA-fV H. SBAfb
.1W I oth `"[fret
7nrlcv I ,du¢ido dObiI
RtdrAkli;hu 55Y,
May 6, 1983
Chuck Carlson
Chairman, Board of County Commissioners
Centennial Building
915 10th Street
Greeley, Colorado 80631
Dear Chuck;
After suggesting in an earlier letter that the surplus ground in La Salle had a
value in excess of $20,000.00, you were probably stunned when we submitted a bid
of only $10,000.00 for the property. That happened for two reasons. First, it
is only natural for a buyer to try to acquire a piece of property at the lowest
price possible and we had no way of knowing what the county had in mind as the
lowest price it would accept for that property. Secondly, I visited with two
appraisers, Mike Marion and Craig Farr, and they both informed me that my initial
opinion of that value was too high. They chided me for trying to put Greeley
values on La Salle property.
In thoroughly discussing this property with Mike Marion, I was given a lesson in
evaluating land. Mike informed me that the land value on that entire corner, in-
cluding Dr. Barton's property, was probably $2.00 per square foot but not in excess
of $2.50 per square foot. However, Mike further informed me that in evaluating
such land, you should apply 40% of the total value to the quarter of land fronting
the highway, 30% to the next quarter, 20% to the third quarter and 10% to the last
quarter since the land diminishes in value as it gets further away from the prin-
cipal traffic frontage. Taking the maximum value of $2.50 per square foot, I have
shown the breakdown on the attached diagram.
According to this formula, Mike has suggested to me that the maximum value of the
county parcel is $15,200.00. Because Dr. Barton would acquire the parcel and then
sell it to the investment group wanting to develop a small shoppette on the corner,
he feels he could pay no more than $14,000.00. This would enable him to package that
site with his adjacent land, sell this parcel to the investors at $15,000.00, and pay
a 7% commission to me for forming the investment group for the entire development.
I hope this information assists you in determining the terms and conditions under
which you will proceed with selling this property. Feel free to confirm my in-
formation with Mike Marion.
Consider this letter to be a firm offer from me, acting as Agent on behalf of Dr.
Barton, to pay the county $14,000.00 cash for said parcel under all the same terms
and conditions of our previous offer. Since we were the only bidders on the property,
I feel the county can legally accept our increased offer without the necessity of a
Chuck Carlson
May 6, 1983
Page Two
re-bidding process. If you agree to accept our offer, we will be most happy to ex-
ecute a revised contract such as was submitted with our original bid.
If you have any questions, or desire that I participate in any discussions pertaining
to this parcel, please feel free to give me a call at the number above.
Cordially,
Larr . Sears
LRS/rlb
Enclosure
cc: County Commissioners, County Purchasing Agent, County Finance Director
Lots 17-22, Block 5
McCutcheon's Subdivision
Town of LaSalle
County Property (Yellow) - Lots 17-18 60 x 190 = 11 ,400 s.f.
Barton Property (Green) - Lots 19-22 100 x 190 = 19,000 s.f.
TOTAL VALUE 30,400 s.f. x $2.50 = $76,000.00
County Value $15,200.00
Barton Value $60,800.00
190'
10% = $7,600.00 40'
2n% - $15,299J'0 40'
3rd Avenue
160' -- --
30% = $22,800.00 40'
40% = $30,400.00 40'
US 85 Highway
RE al Estate
search
APPRAISING & COUNSELING
1800 Pinecrest Lane
Greeley, Colorado 80631
303/356-7675
June 7 , 1983
Weld Ccour!t:.. "Purchasing"
Attention : Elaine
Centennial Building
915 10th Street
fir•eel e:y ,, Colorado E-':0631
Dear Elaine :
Pursuant to your request , I have appraised the real property
described at " Lots 17 and 18 , Block 5 , McCutcheon ' s Subdivision ,
LaSalle , Colorado" .
I personally inspected the subject property. on June 6 , 1 '+x=_3.
This appraisal is are estimate of the MARKET VALUE of the subject
property' s fee simple title as of June 6, 1983.
MARKET VALUE is defined as the most probable price in terms of
money which a property will bring in a competitive and open
market under all conditions requ i si t_e to a fair sale , the buyer
and seller .acting prudently and knowledgeably , and assuming the
price is not affected by undue stimulus such as abnormal ,
favorable financing.
MARKET VALUE is estimated to be .$14,250 .
The following pages review the subject property and summarize the
methods. , analyses of data and reasoning involved in m> estimation
of market value .
I hoi d the " RN" ( Residential Member' #922) designation with the
American Ir,st i tute of Real Estate Appraisers sers• (rcIi*:EH) . I am
rNMA FHLMC approved through multiple lender's as a Level -2
Appraiser . I was employed as the staff appraiser of Northern
Colorado Say i ndc & Loan Assoc . ( a di v i =- ion of Western Federal
Savings) In Greeley for :? 1 /.2 years . I have appraised properties
f r the Veterans Administration fcor• 7 year-7 , a.nd have ._e,pr=rr•a- i ser7
various farms , apartments, small commercial properties_- and
re i deuce.^ f nr- several banks , the State of Colorado, a Inca!
CCil l eoe , local corporations, attorneys, other savings & loan=.,
and private individuals including real estate agents.
I am a Colorado certified instructor of Real Estate Appraisal at
AIMS Communit: College in Greeley. I have completed th many of the
e
AIREA' s educational courses and attended several seminars on
various appraisal -subjects . The c- iREA conducts a voi unta.r•y'
program of continuing education for its designated member=- . PAIs
and RMs who meet the minimum standards of this program are
awarded periodic educational certification . I am certified under
this pir•oyram through December 31 , 1 '=84.
The accompanying report is CONFIDENTIAL . I will not di vul oe the
estimate of Market Value nor suggested asking and acceptance
prices to other parties unless ordered by a court of law or
instructed by the client .
rrerel *' ,
JJ
Craft Farr- , RM
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t-PF RA I S lL REPORT
l•!r'iir1NT LOT
LASALLE, COLORADO
PURPOSE OF APPRAISAL
The Purchasing Department of Weld County has asked that I
estimate the Market Value (Probable Eel i i rig Price) of
property to e the s!• , € - ,- -
enable the Lc'ur€ t'.'' to respond to recent purchase
offers 1-or the property.
This is an abbreviated appraisal report ; that is, because of
prior- agreement with the client , this report doesn' t include
extensive studies of national , regional or state economics and
their possible , very hypothetical impacts �
property . ►�r€alye_. i :. of city and
� on the subject
p • op �L ne i ghbc:rhoo,d data is brief , as are
discussions of zoning laws and allowable uses, highest -ari
use and si timprovementbest
and d descriptions.
AREA DATA
LaSalle , Colorado, is a small , agricultural ci r i c iJ ; t! ral town just 3 miles
south of Greeley t - f
he eat of Weld Cnun ty. It has a h i •-. o f
growth ,
�t r;� n,
very s l ow u h , mostly ss t l yr o f 1 ow-t o--m e d i u m
=_-rrial 1 , price tract housing and
basic . service and retail business.
Greeley-Evans Al- r=s€ thC'Ucit: near the
urban center , LaSalle has only minimally
participated in the Greeley-Evans t•
E.:an growth
during the past 10
years . There is €1 i indication that this $
l oav: 1 O !—qu�.•l i }*' urr<wth
petters`' wi € 1 change .
Considering real estate investment , LaSalle is not desirable in
comparison to the nearby Greeley—Evans area. The few real
property, purchases in LaSal le 's commercial and industrial
districts during the east
few years have all been owner—occupied,
ed
which suggests "value " �[ai n e r—€J+ p ,
i n use being ng more predominant
" investment value " . than
tiar,y sale__ are t -,
� adjacent landowners, with
no interest shown by "outsiders" .
NEI GHBORHDOD Di=€TA
The subject ' s general vicinity, is almost ent i rel ;r commercial .and
light-industrial activities, ranging from repair ,, through grocery r � Jm auto
i . g retail and restaurant , to medical
c , i n i cs, all within a 3-square-block area.
generally " industrial " east of the north-south
al ley' adjacent to the subject , and "commercial " alley
mostly.y, 11'€mE�rC ! e.l „ west of the al I E�;+'
as i t - bisects all
a of the t'loc₹•;_ east of U.S . Highway '_,
P. oe 2
The commercial zoning follows the predominant use pattern
associated with the commercial "strip" along U.S. Highway 85 (2nd
Street) , usually fronting on the Higrrway and e :tending to the
a• 1ley , with mot of the businesses on the east side of the
tr•ee t .
The industrial zoning follows the use pattern generally
associated with the railroad along both sides of 1st Street .
The subject i i es between these uses sacl ? zoned
commercial but enjoys frontage only on 3rd Avenue rather than
1t
or 2nd Streets .
SITE DESCRIPTION
Ti- e subject is legally Block
a'=• Lots 1 " and 1 L, 5'
l•'1ci_utcheor! ' _ Subdivision , Town of LaSalle , County of Weld, State
of Colorado.
The lot meas'_nes 60 feet on 3rd Avenue , ifit-.
1 '. feet along the F�ra`s. C
Gravel alley on the east , 60 feet n a public gr•.xa,el alley on the
south , and 190 feet on the west bordering an old residence in
poor condition .
The subject
t is not in a Flood Hazard Area.
The lot is level , at street grade , and presently occupied by a
few pieces of road maintenance equipment and gravel -like
material .
Third Avenue i s_ paved but lacks aca•;s further improvements.
The subject has only a 60-foot exposure to low-volume at
..� - loth-•: lume .i eef
and public alley .arid is across the iCounty -
alley 1 e,x from FJfrl proper- `
" industrial "zoned and used as a heavy equipment shop .
Although zoned "commercial " , the
subject is in a poor commercial
location , and its dimensions and total area are too small to
support a building and adequate off-street parking that
satisfy most possible users.
HIGHEST AND BEST USE
Alone , as a single vacant lot , the subject hat. very little a. l
- o L��,F-•9. r
to investors. Because of the alleys, its l i nk-age with properties
east and south is not probable .
CCrnsider' in, size , dimensions, zoning, tocat _rn , surrounding land
Page
u :_'•= , and the oeneral economy of LaSalle , the subject's most
logical use is in companionship with adjacent property border
U.S. `=5, or as parking or !-t rage for nearby businesses.
However . this appraisal r_1 ear i l' distinguishes the _e r t <
n of
the subjert and estimates market value of the subject
individually. The subject may have special additional value to
adjacent or nearby landowners,
but such additional tloi131i value is a
product of their needs for their business ventures rather than
being inherent in the subject .
I cannot e'_•timate the needs of adjacent and nearby businesses or
predict their future plans or how ur•Qently or to what degree the
need additional land. I can merely estimate fair market value
and then '=uciyest that the subject be +-_t ;r o r•e'd to adjacent and
ifr'•_+. Y'y landowners in a attempt to sc'i i c i t an offer more than fair
Tra.r•%e t value .
ESTIMATION ;iF MARKET VALUE
Obviously . the Approach ro i s_- + -
Cost �p +1 C I 1 not:_ _C:rr s t d F' e u`' in this appraisal .
The Income Approach i s t -i datai
i also excluded because land lease -
_c. l imi tee. -
Therefore ,i�f_r-� -r
a I have simply attempted i �ed to investigate i +ate all f recent
sales of nearbyand similar proper-tie from which price per
square foot of land are extracted. G r
I methodically searched LaSalle land records of the Weld t
y
Assessor and Transamerica Title Company and interviewed parties
or agents to transactions to the best of my abi l i t'y within the
constraints of the a.s: : . riment . I found the following _•-a.les.
Sale #1 : Lot 1 1 . Block 1 1. , h _Cu tr_heon ' __ 2nd; September , 1'=82.
$16,500 ; 8,000 square feet with 50-foot frontage on U.S. 85;
vacant ; $2 .06 per square foot . Sold to nearby Farmers Inn for
additional parking and future _.ion visibility to U. S. 85 after
enc thy l i t i r:g over $30 . 000 . J=osh sale , no commission .
Commerical zoning.
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•_a1e #2 : R'-ant of Lots 8 and •i, Block. 1L M
�� , c('.utcF:E ='rr` e. 2nd;
October . 1980 , $27, 5001 1 000 1 f• Fi0—f f
i � square U a r'e e f? with t f ._i S_ cf fri t r.
rJn ttl.g[+
on U. S. 85; poor old house ; $1 foot .per square f='_'. . Sold to
adjacent landowner . Cash sale , no commission . Commercial
zoning.
Sale #3: Part of NE 1/4, Section ti, Township 4, Range 65, CS27
Sc . 2nd Street ) ; May, 1981 , $29,000 23„ 42 square feet wi th 237
feet of frontage on U.S. $5 ; fair' old house ; $1 . 25 p ' square
foot . Sold to adjacent landowner with commission and seller
•
_.r-: 7
a+_i e 4
financing. Commercial zoning.
Sale #4 .� Lots. 1 , 2 and . Block 12, McCutcheern'' s 2nd; July ,
1 '9'81 . $58,000 ; corner lot with approximately 16,000! square feet
,... i the 150 feet of frontage on 1st Street ;_ rNet ; moderate auto repair.
shop , fair old house and poor old house ; $2.37 per square foot
after allocating $20 ,000 to improvements. In rough , industrial
section of Northeast LaSalle ; sold without commission but Cr very
favorable installment land contract . Industrial zoning.
'Aal-.? Lots 12 and 13, Block Ei l i s_ Subdivision ; December ,
1 :'r , , $30 .000 ; 7A60 square feet with 50 feet of frontage on Main
Street in the original business district of LaSalle , on the east
side of the railroad; a poor old garage , et F' and
bungalow; $1 . 30 per square foot after allocating $20 ,000 to
improvements., in old business district
to local traffic . r with moderate 4ti5ib11 i t}'
Central business district zoning.
ANALYSIS
As confirmed b>' i rides t i f i cat 1 +_rn of parties es to several_ , er +a e c+f the
comparable transactions , the probable purchaser o
r f the subject 15
an adjacent or nearby landowner .
Initial re i uew of the comparable sales' prices per square font
shows a relatively wide range from *1 .25 to $2• 'S7, with the lower
indication from a situation involving a very motivatedupperindication , l yw+al i C3,
absentee owner , and the form a moderately
improved parcel zoned
parcel industrial sel l ir;g through a favorable
installment land contract .
Sales #1 and #2 suoge-st a range between $1 .
72 L''. d tit $2.06 rl v -FOP
vacant cr- minimally improved parcels fronting U. S. ',IC. This
suggests. a. value per foot +or• the subject U.S.
-(not fr•c+ntint� il �: 25j
__. ir nificantl 'r less than $2 . C:c+n_.ider- in, a " t '+
r•_ de-C+tt of
frontaoe for set i ►-,r motivation in Sale #2, I believe the subject
is valued very near $1 .25 per square foot .. T
#5 at •�1 . :_�i=ig o his i =. supported bySale
per square foot .
COWLUISION
C:onsider• iny the very l imi ted marketability of the subject , I
believe the low end +1f any indicated range of market value more
accurately reflects the subject' s v._lue .
There-fore , I estimate th
e subject to have a market value per
square foot of $1 . 25 and a total market value of $14,250 ,
LOCATION NAP
for Comparable Sales
& Subject
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Federal Insurance Administration • 500 0
n-s.
TOWN OF LA SALLE, CO FM FLOOD HAZARD BOUNDARY MAP
(WELD CO.) No. H 01
st
N
W N
I I\ ..,
t.?
• Sale
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Sale
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FIC R,F'. 4. �* H co
PACI UNII° IJ
f14 I CC
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•
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T . \1 I ft �—�
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T�YLOa AVE _
ale /
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_`A`' "r' le
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AaL •
SUBJECT: Vacant land, south IL!! 110'
. ,r',
side of 3rd Avenue,
between 1st and 2nd 1
Streets, LaSalle, CO
Looking north across subject from ue.=
public alley on south end. __, l dll"i°' I
4 :iii ii. �a GI �I Ill 11
it,
II III Ill, I Miss IIIIIiilli i mo...
*44. 10. . 'r Ali
s : _ n south across subject
. Avenue. Note old
! ;I i.ce on west and alley
c 'i la :
ii
u liii i0,.
III
l
'M i
hh
Looking southeast from • , ...t ..r ', r n:
intersection of 2nd Street �"
(U.S. 85) and 3rd Avenue.
Subject is behind trees, ili1I._
in front of warehouse, to I "
right of orange dot. I
COTWARABLE SALE #1
SLirSwq�'- ld{tiK9Yn.�'s''u""`•"T.
I
!I
A
1
.RAL"LE SALE it
-
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rtr
r
•
COMPARABLE SALE I/3
CONWARABLE SALL it4
Ike Ir
—A
COIWARABLE SALE #5
zoMri BIIULATION of
Lasalle, Colorado
305 - C Commercial
( 1) statement of purpose. The Commercial District is intended tb
insure the provision of essential retail services to the Town,
while differentiating between the function of outlying commercial
areas and the Central Business District. The Commercial District
is directed toward auto-oriented business.
(2) Uses pttmittedt
(a) Gas stations and repair garages.
(b) Public utilities.
' (c) Nurseries and greenhouses.
(d) Public and private schools.
(e) Police and fire stations. •
(f) New and used cars sales.
(g) Trailer sales. •
(h) Building material sales.
(i) Any drive-up facility where occupants of a vehicle may
make use of the service or retail business without leaving
their vehicle.
(3) Uses permitted subject to a public hearing before the Planning
and Zoning Commission and approval by the Town Board: '
(a) Membership clubs.
(b) Hotels and motels.
(c) Theaters and night clubs.
(d) Restricted light industrial.
(e) Retail uses.
(1) Financial offices.
(g) Professional and general business offices.
(h) Medical and dental clinics.
(i) Stcndard restaurants.
(j ) Schools and cultural facilities.
(k) personal service shops.
(1) Amusement and recreation facilities.
(m) Boarding and rooming houses.
(4) Site Plan requirements. Site plans shall be required for all
developments, pursuant to Section 503 of this Ordinance.
(5) General requirements:
(a) Goods sold shall consist primarily of new merchandise and
any goods produced on the premises shall be sold at retail
on the premises unless otherwise permitted herein for
special uses. i;
(b) Processes and equipment employed and goods processed or sold
shall be limited to those which are not objectionable by
reason of odor, junk, dust, smoke, cinder, gas, noise,
vibration, refuse matter, or water-carried wastes, as
determined by the Planning and Zoning Commission.
(6) Minimum lot area: none.
(7) Minimum lot width: 50 feet.
(6) Minimum front yard: where all frontage on the side of a street
between two intersecting streets is zoned as a Commercial District,
no setback shall be required. Where the frontage of one side of a
street between two intersecting streets is zoned partly as residential
and partly as business, the setback requirements of the R-2 Medium
Density Ree&dential District shall apply to the entire frontage.
(9) Minimum side yard:
(a) No side yard shall be required of a building constructed
of masonry or fi.reproo, materials provided the wall or
walls are located on a`property line. In all other cases,
a side setback of three (3) feet shall be required. In
the event rear access to the property is not available,
then a twelve (12) foot setback shall be required on one
side.
• (b) For motels, hotels, and rooming houses, the side yard .
requirements for multiple family dwellings of the R-2
Residential District shall apply.
(10) Minimum rear yard: all buildings and structures shall have
a rear yard of not less than fifteen (15) feet, which may include
half the width of the alley.
( 11 ) Minimum floor area:
(a) Per unit for motels and hotels - 300 square feet
(b) Per occupant for rooming and boarding houses - 200 square feet
(c) All other permitted uses - 300 square feet
( 12) Maximum building height: not to exceed forty, (40) feet.
CONTINGENT AND LIMITING CONDITIONS
I . assume forr
1 . no matters of a leoal character
and am not required to Qi ve testimony or appear in court because
of having made this appraisal unless previous arrangements have
been made .I2. am not expressing an opinion title . assume that
� pi tier. f I the
title is merchantable and rests in the owner of record, that the
property is free of 1 i ens and encumbrances and marraaed by a
responsible party.2 . I performed no survey for this appraisal . The legal
descriptions and dr.a.w; inas appearing in this appraisal report are
approximate and merely for identification purposes to assist the
reader in visualizing the property.
4. 1 assume there are no hidden or una.pparent conditions of the
property, subsoil or structures which would render it more or
less valuable ; and I assume no responsibility for such conditions
or for engineering which might be required to discover such
conditions. UNLESS OTHERWISE NOTED IN THE REPORT, I did not
measure the type , amount or condition of insulation and make no
estimate of Resistance Factors of floors, walls or ceilinos;l i nun•; I
did not determine the safety of aa._- and electrical _:.stems and
assume no r•esponssibi l i ty for the safety of those s: stems; I did
not measure radiation at the site and assume only normal levels
of background radiation ; I did not test for the presence of
methane Qa.=- and assume the site is not a previous 1 andf i 1 i ; I did
not anal yze the site's vegetation for urrapparent disease or
insect infestation and assume healthy plantirtas; i did not test
for UFFI , which is urea-formaldehyde-foam-insulation , and I
found no obvious evidence of the addition of UFFI , and I assume
there is no UFFI .
5. The information furnished by others is Gel i eved to be reliable
and has been reasonably verified in ever::. possible instance . but
I assume no r•esponsibi l i ty for the accuracy of that information .
6. On appraisals made subject to satisfactory completion , repairs
or a i ter-at i ons , the appraisal report and value estimate are
contirraerrt upon completion of the improvements in a workmanlike
manner .
7. This appraisal report must be considered in its entirety ; the
distribution of value between land and improvements is val id only
under the ex i _.t i na usage . This appraisal is not to be considered
in conjunction with any other appraisal and shall be void if so
t.ie•ed.
8. Should this appraisal report be something less than a full and
complete written report , as defined by the American Institute of
Real Estate Appraisers, as requested by the cl i ent or his
representative .
A . I have advised the c i I ent or his representative that the
assignment calls for _-omethirra ; ess. l 'than a. full+ and cnRtA i e •.e
appraisal report , and the report is qu-a.l i f i ed to reflect the
1 imi ted scope of the assignment .
B. The limited scope of the report is set forth in the
report in a clear and precise manner .
C. The contents of the appraisal report are believed not to
be so 1 imi ted that the report is meaningless., or so l irni ted that
the effect would be to mislead the client or public .
CERTIFICATION nF AF'pRAI._.AL
The undcr.sicried does hPrPby certify that , except as otherwise
noted in this appraisal report : the. i have personally inspected the property which is the subject
of this appraisal report .
2 . I have no present L or contemplated future interest 1n the real
estate that i ≤ the subject of this appraisal report .
3 . I have no personal interest or bias wi th respect to the
subject matter of this appraisal report or the parties involved .
4 . To the best of my know i edQe and be 1 i of the statements of fact
contained in this report , upon which the analyses , opinions and
conclusions expressed herein are ti.ased , are true and correct , and
I have not knc,t,:iirtgly withheld any significant information .
5 . This appraisal report sets forth all of the l imi t i ng
conditions ( imposed by the terms of my assignment or the
undersigned) affecting t rt e analyses, opinions a.ri d conclusions
contained in this report .
6 . This appraisal report has been made in conformity with and is
subject to the requirements of the Code of Professional Ethics
and Standards of Professional Conduct of the American Institute
of Real Estate Appraisers.
7 . This appraisal is only an estimate of the market value of the
subject property and may riot equal the estimates of other
appraisers for the same real property .
S . Nc' one other than the undersigned prepared the analyses ,
conclusions and opinions concerning real estate that are set
forth in this appraisal report .
9. My compensation for making this •ar'['r.a. i _.-al is not contingent on
the amount o value reported .
10 The estimate of Market c-t.al ue in the appraisal report is not
based in whole or in part upon the race , color , or national
origin of the prospective o_owners or occuLoants of the property
appraised , On upon the race , color , or national orioin of the
present owners or occupants of the properties in the vicinity of
the property appraised .
RESTRICTION UPON DISCLOSURE AND USE:
Disclosure of the content= of the appraisal report is governed b:
the Bylaws and Regulations of the American Institute of Real
Estate Appraisers I AIREA:' . Neither al 1 nor any part of the
contents i s.f thethereof report , or copy ( including conclusions as
to the property value , the i dent i ty o+ the Appraiser ,
professional onal designations, reference to the AIREA, or the firm
with th which the Appraiser is connected) , shall be used for any
purposes Cc/ any'Cane but the client specified in the report , the
borrower if appraisal fee paid b>- same , the mortQaciee Or its
=•u_ce=•=.rar=. and assigns, mortgage insurers, consultant=,
professional appraisal organizations , any state car federally
approved financial institution , any department , agency , a_or
instrumentality of the Uni ter tates or any state or the District
of Columbia. , without the previous written consent i.+the
Appraiser ; 1 -
nor r' shall a.1 1 i ! be N conveyed r1 a;J e`.`e a, ~i r anyone;,r[a n_+ to the k' public
1 Fa 7 i r
through advert I i nQ, puce! i c relations, news, sales , or other
media , without the written consent of the Appraiser .
SIGNED: r L_J DATE :
Hello