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HomeMy WebLinkAboutResolution - 476 - URA Land Acquisition - Tony & Jean Brookes - Park Development, South Overton - 04/24/1980RESOLUTION #476 - 4/24/80 PC RESOLUTION A RESOLUTION AUTHORIZING THE ACQUISITION OF A CERTAIN PARCEL OF LAND FOR THE PURPOSE OF PUBLIC PARK DEVELOPMENT IN THE SOUTH OVERTON NEIGHBORHOOD; AUTHORIZING THE INSTITUTION OF CONDEMNATION PROCEEDINGS AS REQUIRED. WHEREAS, it has been determined by the City Council that a certain parcel of land located in the vicinity of 14th Street and Avenue U within the City of Lubbock, Lubbock County, Texas, should be acquired and developed for public park purposes; and, WHEREAS, the Department of Housing and Urban Development (HUD) has con- tracted with the City of Lubbock to provide funds through the Community Develop- ment Program to aid in the development of such a project; and, WHEREAS, it is necessary to acquire for public park purposes the fee simple title to the land hereinafter described, Parcel No. 67440-44-8, owned by TONY BROOKES and wife JEAN BROOKES; and WHEREAS, the City Council has caused appraisals to be made of said land and the value and total damages, if any, to the owner, and all others whose interest may appear, for fee simple title to said land has been appraised, and the City Council finds the price herein offered to be fair and equitable; NOW THEREFORE: BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the City of Lubbock acquire for the purposes of developing a public park the feesimple title to a certain parcel of land lying and being situated .in Lubbock County, Texas, and described as follows, to -wit: Parcel No. 67440.44-8 (2015 14th Street): Lot 8, Block 44, Overton Addition to the City of Lubbock, Lubbock County, Texas. Purchase Price - $11,000.00 (Eleven Thousand and N0/100 Dollars) THAT the owner, and all others whose interests may appear, be offered through the Urban Renewal Agency of the,City of Lubbock, Texas, the amount established as the fair market value and total damages, if any, for fee simple title and acquisition of said parcel of land for the purposes herein stated, for the use and benefit of the City of Lubbock, being the amount hereinabove stated, and that unless accepted forthwith, the City Attorney is hereby authorized and instructed to institute condemnation proceedings for and on behalf of the City of Lubbock to acquire fee simple title to said parcel of land as hereinabove described, for public park purposes. Passed by the City Council this 24th day of April 1980. Jim LL MCALISTER, MAYOR ;ATTEST-: 'r Evelyn Gaf ga, City'�Se re -Treasurer APPROVED AS TO CONTENT: Vicki Foster, Community Development Coordinator APPROVED AS TO FORM: W. M. Mckamie, Assistant City Attorney 7-77 7 ACQUISITION APPRAISAL REVIEW PARCEL NO. 67440-44-8 PROJECT NAME Community Development, 5th Year ADDRESS- 2015 14th Street, Lubbock-, Texas OWNER (s) Tony Brookes TENANT (s) Not known, see 'Limiting condition' -LEASEHOLD No LEGAL DESCRIPTION: Lot 8, Block 44, Overtone Addition 1. Acquisition appraisal received .......... . .... ............ April 1, 1980 (Date) 2. All corrections by appraiser completed... ......`....... April 7, 1980 3.. Appraisal is adequate and acceptable........... ........... Yes 4. On-site inspection of property ........................... .,•April 5, 1980 (Date) 5. Person accompanying review appraiser ....................... None 6.. On-site inspection of comparables.......................... _ Apri 1 5, . 1980 (Date) 7. Any report of unlawful condition or occupancy .............. No S. Basis for conclusion as to fair market value: Approval of the Appraisers' valuation is - based on my inspection of the property and review of the appraisal report. ' Limiting Condition: Neither the appraisers nor the review appraiser were allowed on the.. property to -make inspections. My observations of'the property were limited -to the public street and alley as were those of the original appraisers. In my opinion the final estimate is $11,000.00 I hereby certify that P have no interest, present or contemplated, in the property; and to the best of my knowledge and belief, all statements and information in this report are true and correct, and no important facts have been withheld or overlooked. April 7, 1980 DATE 41%. Buildings & Structures APPRAISAL REVIEW APPRAISAL (Whole Taking) Valuation Valuation 1. Main Structure (Duplex) $ 6,600 $'6,600 2. 3. 4. Garage........................ Fence........................_ 50 s0 Landscape.....,.... ... ... 100, 100 Cellar...................... Other........................ Flat concrete 250 250 Other.......... ... ........ Other....................... Fixtures... .................. Tenant-Owned Building, Structure, Fixture & Other 1. 2. Land.............................. 4,000 4.000 TOTAL:.... .................... $11.000 X11,000 Partial Taking Whole Property Part .Taken Remainder Before Remainder After Damages TOTAL TAKING AND DAMAGES:............................ APPRAISAL REPORT ON PARCEL N0. 67440-44-8 LOCATED AT 2015 14TH STREET LUBBOCK, TEXAS PREPARED FOR: Urban Renewal Agency City of Lubbock P. 0. Box 2000 Lubbock, Texas 79408 PREPARED BY: Goddard and Associates #33 Briercroft Office Park Lubbock, Texas 79412 DATE: 3-18-80 RESIDENTIAL APPRAISAL REPORT -Property- owner Tony Brookes Parcel No. 67440-44-8 Property Address Z015 14threit city-- Lubbock _county Lubbok Lega�Descrrption Lot -Block 44. Ov '—�'-""--I as zr►�cnrte _794.QL on Pro(l-3631:49 rt Ri hts Appraised Fre Leasehold (7eN,nrms PUDIFNMA only Cnti on Pi,r Actual Real Estate Taxes i __City an School — 36 . 9 ; State and County 19.76 Total axes , Dceuoant -The(�urp9%e of this appraisal i.s to estimate market value and the expected function of this anoraisal is to aid the client in acquisition decisions. CITY DATA � k Metrope 1970. rantolitan a tnt�d ulatior�o t e City of Lubbock at u ock Metropolitan area at 7 .295 __4uk.� k..h_as..eniayed_a_r ntinuwL e►-�wtb.___..__ ren . `--_�____ e ecoof a is aritnarily �gr.icuLtur. u oc� cT� tFiP tra" in`Q_ - aspe_gr_ of �.ne of the m����ctiv.ct�ttural__�reas. _in_.the_natinn..._ The__agr.icuI turat_ asaects oft_he economy are broad_Anj strQnDlysompi.imen esLby TexaaTeLtAnim,rs_ity,_____ The established arowth directinjp-Qt.��j}�is.southwe.s.t,.4nd est._ Thre o ractoxs_.____._ that contribute to the ci -y's nntinw.,dgrowth are __the continued developmen oa- �he Texas Tech campus in a westward direction, - - — the western location of _Lubbock Christian _ College, and Reese Air Force Base There has been no growth i'n subject's =� part of the cit -yin recent _nears. - - — NEIGH80RHOOD DATA Location MU/flan ❑Sutmertlen Stent Up ❑Over 75% (975%,. 75% otlnder 25% Growth visit ❑ Fully Dev. ❑Rapid Fmployme.nt Stah+fity crone) U Avg Fan ❑ 0 Poo, El ❑Steady Wsloir Properiv Values .Qinertaling 0stet)tir ®narl,nrnq Convemenc• to Fmnloyment banlandfSuntiw ❑shorlsge ®in (letanee E3 Over suliply Crinvan+en Ce in Shnitnrng I ® ❑ f , Marketing Time QUnder 3 Mot, 04-6 Mos. ❑Over G Mos Conventertre to Srhonls (?vehly of Schools 0 ri O o C) r r.1 Present Land Ute 25 % 1 Fatuity 50% Fatuity 22% Apt, _% Condo, % Commercial flecrval,onal Facilrtres 13 19 0 L i „r% Industrial_% Vac Vacant _% Change on Present land Use ❑ Not Likely QLikely I') (&Taking Place (') Adequacy of (hil-oes Property ❑ ® v U , 1.1 From single family To multifamily Comnetihil,ty ❑ w ® n Predominant Oeeupaney ❑owner ®Tenant 5 PMtertson from Opt rimentelConditions D D ® O % Vacant Single Family Pries Range 19 8,,-0000�to s40000predominantValue S 20+000 Police and Fire Protection Ganersl Annearance ❑ ® ❑ ❑ Single Family AgetoY� yet Predominant Age__30-40 yrs of Properties Appeal to Mniket 0 []- ❑ ® U(w❑ ❑ C mpntt including III?; factors adversely affec Ing marketability) °'►tis Is an or area located centrally iRithin the CitY havi good access tote downtown area ana 1exas-VeChn versi y Me ma ori o —occupants are stu ent tenants or log i rest ens and lackOf ride of ownership is evident y ncome SITE DATA Dimensions 501 X 127.5' • 6.375 So. Ft or Acres ❑ Corner )_tit Zonmg classification (R -Z) Two Family _ Present improvements Is do ❑ do not conform to )on,nq reguiat,ons Highest and best use: Present we ❑Other fspecifvl Puh(ic Other (Describe) OFF SITEtMPnOVEEMI'. T Topo ---.near level—__ " Elle. ® Street Access: CK Public ❑private ua Som adeqte _ • _ Gas ® surface asphalt Shane rectangyl ar Water ® Maintenance: IN Public ❑ Private View average sens.Vwr ® ❑ Storrs Sewer CM Curh/Gutter Drainage no a arent probes �� ❑Underground Elect. & Tel.IC@ Sidewalk Street Lights Is the property located in a HUD identrfsed Flood Hazard Arai ®No ❑ Yes Comments (favorable or unfavorable including any apparent adverse easements, encroachments or other adverse conditions) No adverse easements or encroachments were observed at the time of the appraisa inspection. _ Goorl Avn_ Fall Po,i, l i Wells Worywetl ❑Plesta ❑ IMPROVEMENT DATA p 0 Existing (soprox. y►. bit.) 11) No. Units Typo (dal, duplex, semi/del, etc.) Oes,gn (rambler, spin level, etc.) Extr,,o, Wwus ❑P►oposed�❑Under Consiruct,on No. Stories r detached bungalow wood/stucco Roof Meter,al GutiersA, Downspouts Witione Window (Type{' wood tnsuifflu"HNon-- ❑Fieri, ' asphalt shin le 9 JC]SiormSosh ®$erre^%❑ COmh,netnm e,l,m itnnl Wan; CR , 'Foundation Watts %Basement Floor Dram ~y-F,n,shotf Ce,l,ng— ® concrete block outside Entrance ❑ Sump Pump F,n,shrd Walls no basement—"-" — {�Cravrl Spaca ;� Concrete Floor 16 Finished Fintsherl Floor _ ❑Slab on Grade EvidenNol:�Oam�ness �Ter,a�,e,_❑5ettlrmr.�t "_ ___--____ Comments o Rm Ree. Rm. Bedrooms No 8ntht Lsundr —Orr.. lot Level 1 Z --_ -•--_- ------2-- - --,2•-_.---•- 2nd Level t Rooms Bedrooms Baths in area above grade. _Total tfinished Kitchen Equipment: Flefrrgerstor Range/O 1 Oitposal vDishwasher C31'anlHood OCorripactor Washer - Oryer 0 HEAT Type IgUe Fuel Qaq Cond. 8XS AIR CONO: Central Other C3 O__..,.1' one nAdrn,rae;'Zoo.,�.,,,.,� ... Floors 1—Hardwood QgCsrpol OverwoodX the _ Goorl Avn_ Fall Po,i, l i Wells Worywetl ❑Plesta ❑ Ouaiity of Construction (Materials 6 Finish) p 0 ❑ Eli. Trim/Finish ❑Good ®Average ❑Fen ❑Poor Condition of Improvements ❑ U 0 Ll Bath Floor ❑Ceramic ® tile r Rooms s,rq and layout ❑ ® ❑ (] Bath Wainscot ❑Ceramic (R tele Closets and Storage ❑ 9 ❑ [1 Special Features (including fireplaces): Plumbing-.sdenuscv and condition ❑ 0 ® 0 Etectrrcal -adequacy and condition ❑ ®to 01 s�� •1 Kitchen Cab,nnis• adenuacy and condition o ® ® o 'ATTIC- Ryes ONO ❑Stairway ❑Orop•stair ®Scuttle ❑ Floored - Compatibility to Neighborhood ❑ ® ❑ Li Finished IOescribel no garage ❑ Heated " Overall Livpb,lity ❑ 0 ® C-5! CAR STORAGE: ❑Gersgo ❑Built-in ❑Attached ❑Detached OCsr Porl Arlwat andMorketab,frty ❑ ❑ ® Cl' No. Cess adequate ❑ Inedectuste Condition Effective Age 33 Yrs. Est. Remaining Economic Life 17 Yrs PORCHES, PATIOS, POOL, FENCES, etc. Ideseribel COMMENTS (including functional or physical inedsouscies, repairs needed, modernization, etc.) Major remodeling necessary IMCnME APPROACH Estimated Monthly Gross Rent Multiplier----------- ------ 60 Estimated Unfurnished Monthly Economic Rent --------------------------- 200 Gross Rent Multiplier Times Monthly Gross Rent Multiplier---------— VALUE INDICATED by the INCOME APPROACH --------------------------------12,000 COST APPROACH Measurements No. Stories Sq. Ft. _+24 _ 28 „ Support of Income Data: 615,792 "- " • " x a Is In order to estimate subject's.monthly economic rent, the following Is - soul Gross Lovina Area dist in Market Oete Analysis below} 672 .omment on lunetlonal and ocorwmic obwlescenoe• ` - _ --I.he .extcrtSlv�. Rhy lc.a L_.dc:i►r�c iatluu_,... --.-.ow l-VIslOStlrl�t u�5lble t:�.Q�tuuils._ur funs t i0[ja_ l dPVT i a t i on . __. _. comparables were analyzed. Rent Rent Per Per Rent No. Address Monthly Rent Bedrooms Square Foot Square -Foot Bedroom 1 2314 10th (house) $225 2 1158 $0.194 $112:5 6 2218 9th (house) 175 2 1098 0.159 87.5 5 2123 10th house) 225 2 1140 0.197 112.5 2 2315 9th duplex) 300 2 1279 0.235 150 Based on these comparable sales, the indicated economic rent for subject is estimated at $200 per month. The following comparable sales were utilized in arriving at the proper GRM for processing the economic rent into a value estimate. Sale No. Sale Address Indicated GRM 7 2323 Main 66.27 10 2120 6th 63.11 5 2315 9th 61.67 4 2311 able lOt� Based on these comparsa es, 471.14 the most reasonab a GRM for application toward subjects economic rent is 60. Estimated Monthly Gross Rent Multiplier----------- ------ 60 Estimated Unfurnished Monthly Economic Rent --------------------------- 200 Gross Rent Multiplier Times Monthly Gross Rent Multiplier---------— VALUE INDICATED by the INCOME APPROACH --------------------------------12,000 COST APPROACH Measurements No. Stories Sq. Ft. _+24 _ 28 „ ESTIMATED REPRODUCTION COST - NEW - OF IMPROVEMENTS: Dwelling 672 Sq. Ft. e s 23.50 __ Sq. Ft. 0 S Extras 615,792 "- " • " x a Is " " . Porches. Polios. etc. in rate Garage/Car Port Sq. Ft. 0 S • Site improvements Idrivsway. landscaping'. etc.) • t-t.l E.......„, cost New . . . . . . . . - Less Phy� I � Functional Economic uep,.r..t.un $ 58 s uep.ecieted velars of improvements . EST IMAI1:U LAND VALUE . tit la.,ehoid..how only leasehold valve! INDICATED VALUE BY COST APPROACH . . . - --100 : 16,192 s 1 9,159 S 7,033 S 4,000 S 11,033 Is - soul Gross Lovina Area dist in Market Oete Analysis below} 672 .omment on lunetlonal and ocorwmic obwlescenoe• ` - _ --I.he .extcrtSlv�. Rhy lc.a L_.dc:i►r�c iatluu_,... --.-.ow l-VIslOStlrl�t u�5lble t:�.Q�tuuils._ur funs t i0[ja_ l dPVT i a t i on . __. _. MARKET 'APPROACH Thr undersry,re,s has melted three recent sales of properties most similar and prom mwtu.to subprct and hes considered tlu+se m the market analysis. The desalts - tum includes a ,fu+4e, adluttmenl. rollaeting nwrkat reaction to those ,tum► of signrbt.ant variation bvtwuun the subtuct end cornperable pfupvrto" If a sign,l,cent ,tvm tit fila cunso.uat►le property a SUperlOr to, Of moro favurab►u 1110111, file subjuet prupurly, a cornus (-) adjustment is mado, thus reducing the indicated vatue of subject; of a sirjn,l,cant rtum ,n the comparable is inferior to, or lust favorable, than, the subject property. a plus 10 adjustment os made, thus increasing Ihu ,ndrea• 1011 of.h.0 of the %uh.ett- ITEM COMPARABLE NO. t COMPARABLE NO. Z COMPARABLE NO. 3 Address 2312 9th 1910 8th 2120 6th PToxLm�ly to.ubl,8 `Sates Price MinSDection blocks, 7 blocks 9 blocks 8,506 S 10 500 14.20 _ _$S Pate/L,vmq �a : $ , S ' S 17.2 7 Data ouncea raiser realtor lender real tor. 011 Sata andDESCRIPTION I rme Adlustrr,ant 116Date Adl1 st ant DESCRIPTION Aolustment DESCRIPTION Aolustmer►t 3-80 5-79 + 200 3-79 ;+ 30 - + 100 Location av -fair av -fair I av -fair 7 av -fai r Design and Apperl ppeht of comp.._ 50 FF 50 FF 50 FF I 50 FF Wd eom Pad/comp BV COm dSb comb/comp fair- fair - poor I fair poor 1 fair ' n 38 years 35 years fair oor 1 +1 000 -r---�- 4A�ears 1 oor , +1,000 P_ --T 1 35 years good 1-31000 _f__ Living Area Room Count and Tutal GrottLwrnLnre_r Total •m1s Baths Total r B'rms + Baths 4 2 2. 4 i1 1: +1,000 672 So.Ft. 615 s .Ft. I + 450 , Total B•rms 1 Baths I 3 1 I +1,000 970 Sq. F t. -2,400 T al r B•rms , aths 412 +19000 822 .Ft. -1,200 Basement 6 Bunt. Finished Rooms none none 1 smallcellar , no value none ' ' Functional utility avg avq lavqI av Ate Conditioning_ Lione none none r none 1 car�a,rca� Po<< nQne 1 def oor 1 det oor 1 none L Porches. Patio, Pools, etc. small small small l small Other 1e9. lire. places, kitchen equip., heating. remodaungl space heat apace heat , I space heat 1 floor furnace ;- 300 1 Sala or Financing Concei{ront personal i cash t 1 1 FHA , , t j 1 I i 1 NN a�. tTuu11 _ _ Indicated Voive'S of Subject ti Pius; ❑ Minus .s 2,650 v,u,,j,_)X_Minus tS 100 PIs Minus:3,400 is 11,150 ii 10,400 Comments an MarketOau All of :,he comparables presented above indicate a small value range of 110,400 to $11,1 0. The -preponderance of market data indicates a value to;ard Ehe upper units of t_e ran_ge. ` . ►v . . . . . S IIgUVV ) Final Reconciliation: The market approach is allowed a large degree of credence in the final value ailabie and income producl I ESTIMATE THE MARKET VALUE. AS EFINED, OF SU ECT PROPERTY AS OF 3-19 —19-10— to be S 11 ,000 ApAraisartt! � Ji o ar . , . Steve Shuler, S.R.A. CURRFNT OWNERSHIP DATA DATE: 5-19-78 GRANTOR: Mrs. E. R. Gibson; widow GRANTEE: Tony Brookes and lean Brookes BOOK AND PAGE: 1583 - 977 SALE PRICE: $10 + other valuable consideration + a note for $34,500 to grantor. (The sale includes lots 8 and 9, Block 44, Overton Addition.) ARBITRARY BRFAKOOWN Or F I NAI M I MATE or VAI 111 Land '4,000 Main Structure 6,600 Concrete 250 Fence 50 Landscape 100 Total $11,000 ?-()IS- IWO STREI gLLEY so' 14`" STREET FRONT VIEW STREET VIED! APPRAISAL CERTIFICATE The undersigned does hereby certify that, except as otherwise noted in this appraisal report: 1. I have no present or contemplated future interest in the real estate that is the subject of this appraisal report. 2. I -have no personal interest or bias with respect to the subject matter of this appraisal report or the parties involved. 3. To the best of my knowledge and belief the statements of fact con- tained in this appraisal report, upon which the analysis, opinions and conclusions expressed herein are based, are true and correct. 4. This appraisal report sets forth all of the limiting conditions (im- posed by the terms of my assignment or by the undersigned) affecting the analysis, opinions and conclusions contained in this report. 5. '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 of the National Association of Real Estate Boards. 6. No one other than the undersigned prepared the analysis, conclusions and opinions concerning real estate that are set forth in this appraisal report. AI(A JiGoddard, M.A.I.,S.R.P.A. Ste"` Steve Shuler QEFINITION OF MARKET VALUE The term "market value", as used in this appraisal, is defined in the book entitled REAL ESTATE APPRAISAL TERMINOLOGY, first printing, 1975, on page 137 as follows: The highest price in terms of money which a property will 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 cash or its equivalent. 5. Financing, if any, is on terms generally available in the community at the specified date and typical for the property type in its locale. 6. The price represents a normal consideration for the property sold unaffected by special financing amounts and/or terms, services, fees, costs, or credits incurred in the transaction. ASSUMPTIO11S AND LIMITING CONDITIONS The appraiser assumes: 1. That the legal description furnished is correct. 2. That the title to the property is good. 3. That the property is free and clear of all liens. 4. That the property will be properly maintained. This report is submitted subject to the following limiting conditions: 1. That no guarantee is made as to correctness of estimates or opinions furnished by others and used in making this appraisal. 2. That no liability is assumed on account of inaccuracies or errors in such estimates or opinions. 3. That no.liability is assumed on matters of a legal character affecting the property, such as title defects, over -lapping boundaries, etc., and no right to expert testimony unless adequate arrangements for fees are made.. 4. Engineering survey furnished is assumed to be correct. 5. The appraisal fee is not, in any sense, contingent upon anything other than delivery of this report. 6. Property owners denied appraisers the right to inspect the property. All observations of the property have been limited to visual inspections from public streets and alleys. Interior construction features and condition are assumed to be consistent with exterior condition of subject and other similar structures. Physical size of the structure is taken from the city and school tax records and is assumed to be correct. RESTRICTIONS UPON DISCLOSURE AND USE 1. Disclosure of the contents of these appraisal reports is governed by the By -Laws and Regulations of the American Institute of Real Estate Appraisers of the National Assoc- iation of Real Estate Board. 2. Neither all nor any part of the contents of these reports (especially any conclusions as to value, the identity of the appraiser or the firm with which he is connected, or any reference to the American Institute of Real Estate Appraisers or to the Society of Real Estate Appraisers or to the M.A.I. or S.R.P.A. designation) shall be disseminated to the public through advertising media, public relations media, news media, sales media or any other public means of communication with- out the prior written consent and approval of the undersigned.