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q -1x-77
RESOLUTION
RE: ACCEPTANCE OF MONIES FROM PINNACLE PARK, THIRD FILING AS
PER SUBDIVISION REGULATIONS REGARDING PARK FEES.
WHEREAS, the Board of County Commissioners of Weld County,
Colorado, pursuant to Colorado statute and the Weld County Home
Rule Charter, is vested with the authority of administering the
affairs of Weld County, Colorado, and
WHEREAS, pursuant to the Weld County Subdivision Regu-
lations, Chapter 8-15 (A) (3) , before a Final Plat is approved,
subdividers may be required to dedicate, develop and/or reserve
land for parks and/or necessary public purposes, other
than streets and utility easements, and
WHEREAS, in lieu of land, subdividers may be required
to make payment to the County of an amount equal to the market
value of such land as may be designated to be dedicated or re-
served in accordance with the formula contained in Chapter 8-15
(A) (3) of the Subdivision Regulations, and
WHEREAS, George Hoecher, Developer of Pinnacle Park, Third
Filing, having had his Final Plat of said Subdivision approved
subject to the application of Chapter 8-15 (A) (3) , which requires
the dedication of certain acreage for public use and/or to make
payment of an amount equal to the market value of such acreage ,
NOW, THEREFORE, BE IT RESOLVED by the Board of County Com-
missioners that George Hoecher, Developer of Pinnacle Park,
Third Filing, should pay to the County of Weld, the sum of
ONE THOUSAND TWO HUNDRED SIXTY EIGHT DOLLARS AND 50/100, ($1,268.50),
the same being the established market value of land considered
necessary and essential for public purposes according to the cal-
culations set forth in the attached memorandum.
BE IT FURTHER RESOLVED that such monies received shall be
deposited with the Weld County Treasurer in an escrow account
specifically designated to be used in accordance with Section
f: • , ( 77099g
/: • - /f r•
8-15 (A) (3) of the Weld County Subdivision Regulations .
The above and foregoing Resolution was, on motion duly made
and seconded, adopted by the following vote on the 12th day of
September, A.D. , 1977.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORA 0
•
ATTEST: IOW [^vs Lc? .' n/
Weld County Clerk and Recorder
d Clerk to the Boy.,/rd.
Deputy County Clerk -
.1 RAVED AS TO FORM:
County Attorney
-2-
Date Presented: September 19 , 19;
Em RAnDU
wilPlanning Commission September 9 , 1977
O To Date
COLORADO From
Estimated Value of Raw Land - Pinnacle Par4 3rd Filing
Subject:
Pinnacle Park 3rd Filing
Estimated Value of Raw Land
Sale Price of Lot 9 Pinnacle Park 2nd Filing
March 4, 1974 $ 10 , 000 . 00
8% per year appreciation 2 ,400 . 00
Current Lot Value 12 ,400 . 00
( 6 lots in 16 . 397 acres) Acre Value
as of 9-1-77 4 , 537 . 41
Less 6 % Commission 4 , 265 . 16
Less 50% to develop 2, 132 . 58
Round to 2 , 150 . 00
In my opinion, and from the above calculations the raw land
value would be $2150 . 00 per acre for Pinnacle Park 3rd Filing.
" Gilman E . Olson
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