HomeMy WebLinkAboutResolution_22-97/98_04/09/1998 RESOLUTION NO. 22 -97/98
A RESOLUTION OF THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, PALM BEACH COUNTY,
FLORIDA, APPROVING THE SALE OF VILLAGE LAND
TO LODESTAR TOWERS, INC. IN THE AMOUNT OF
$11,500.
WHEREAS, the predecessor to Lodestar Towers, Inc. leased
approximately 3,328 square feet of land from the Village;
and
WHEREAS, the Village of Tequesta no longer desires to lease
said property to Lodestar Towers, Inc.; and
WHEREAS, representatives of Lodestar Towers, Inc. requested
to purchase said property from the Village of Tequesta; and
WHEREAS, the Village secured the services of Callaway &
Price, Inc. to conduct an appraisal to determine the fair
market value of the land in question, identified as Parcel
No. 1 in the Callaway & Price, Inc. Appraisal Report dated
February 23, 1998; and
WHEREAS, Callaway & Price, Inc. appraised the land in
question to have a market value of $11,500.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
• VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:
Section 1. The foregoing recitals are hereby ratified and
confirmed. '
i
Section 2. The Village Manager is hereby authorized to sell
the 3,328 square foot parcel to Lodestar Towers, Inc. in the
amount of $11,500 with all associated charges and fees to be
borne by Lodestar Towers, Inc. and to do all things
i necessary to close the sale.
THE FOREGOING RESOLUTION WAS OFFERED by Councilmember
Mackail , who moved its adoption. The motion was seconded by
i Councilmember Hansen and upon being put to a vote, the i
vote was as follows:
FOR ADOPTION AGAINST ADOPTION
Alexander W. Cameron
I
Joseph N. Capretta
Carl C. Hansen
Ron T. Mackail
Elizabeth A. Schauer
The Mayor thereupon declared the Resolution duly passed and
adopted this 9th day of April, A.D., 1998.
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MAYOR OF TEQUESTA
Elizabet . Schauer
ATTEST:
oann Manga ello
Village Clerk
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Callaway & Price, Inc.
Real Estate Appraisers and Consultants
Licensed Real Estate Brokers
• MWEST PALM BEACH■ ■FORT PIERCE■
Robert J. Callaway, MAI, SRA, CRE Harry D. Gray, MAI, SRA
St.Cert.Gen.REA RZ0000505 SLCerLGen.RE:A RZ0000662
Michael R. Slade, MAI, SRA, CRE NBOCA RATON■
St.Cert.Gen.REA RZ0000116 Daniel P. Hrabko, MAI
Daniel P. Hrabko, MAI St.Cert.Gen.REA RZ0000048
SLCerLGen.REA RZ0000048 ■ STUART■
Joe R. Price, MAI, SRA Harry D. Gray, MAI, SRA
St.Cert.Gen.REA RZ0000555 St- CerLGen.REA RZ0000662
Please reply to West Palm Beach
February 23, 1998
Thomas Hall
Village of Tequesta
357 Tequesta Drive
PO Box 3474
Tequesta, FL 33469 -3474
Dear Mr. Hall:
Pursuant to your request, we have made an investigation and analysis of two vacant industrial
parcels. Parcel I is located 1,200 feet south of Tequesta Drive, and 250 feet west of U.S.
• Highway One, Tequesta, Florida. Parcel II is located 1,000 feet south of Tequesta Drive, and
250 feet west of U.S. Highway One, Tequesta, Florida. The purpose of this investigation and
analysis was to estimate, the Market Value Contribution to the westerly abutting properties (see
Limiting Condition Number 10) of the parcels as of February 13, 1998, in a complete appraisal
report with a Summary format.
As a result of our investigation and analysis of the information obtained therefrom, as well as a
general knowledge of real estate valuation procedures, it is our opinion that the Market Value
Contribution to the westerly abutting properties (see Limiting Condition Number 10) of Parcel
as of February 13, 1998,
ELEVEN THOUSAND FIVE HUNDRED DOLLARS
($11,500)
As a result of our investigation and analysis of the information obtained therefrom, as well as a
general knowledge of real estate valuation procedures, it is our opinion that the Market Value
Contribution to the westerly abutting properties (see Limiting Condition Number 10) of Parcel II
as of February 13, 1998,
THIRTEEN THOUSAND SIX HUNDRED DOLLARS
($13,600)
•
WEST PALM BEACH - 1639 Forum Place, Suite 5, West Palm Beach, FL 33401 (561 )386-0333 / Fax (561)686 -3705
FORT PIERCE - 505 South Second Street, Suite 230, Fort Pierce, FL 34950 (561 )464 -8607 / Fax (561 )461 -0809
BOCA RATON - 4400 North Federal Highway, Suite 210, Boca Raton, FL 33431 (561)998 -8088 / Fax (561)686 -3705
STUART - 505 South Second Street, Suite 230, Fort Pierce, FL 34950 (561)287 -3330 / Fax (561)461 -0809
Callaway & Price, Inc.
i
EXECUTIVE SUMMARY - PARCEL I
' PROPERTY TYPE Vacant Industrial
' LOCATION 1,200 feet south of Tequesta Drive and 250 feet
west of U.S. Highway 1, Tequesta, Florida.
' DATE OF VALUATION February 13, 1998.
' PURPOSE OF APPRAISAL : To estimate the Market Value Contribution to the
westerly abutting property of the Subject Property
as of the appraisal date.
' PROPERTY DESCRIPTION:
LAND : The land is rectangularly shaped and contains
3,328 square feet or .076 acres.
lie ZONING : C2, Community Commercial District, by the Village
of Tequesta.
I LAND USE PLAN : C -2, Commercial, by the Village of Tequesta
I HIGHEST AND BEST USE:
AS VACANT For light industrial development.
I VALUE INDICATIONS:
I SALES COMPARISON
APPROACH $11,500
I MARKET VALUE
CONTRIBUTION TO THE
WESTERLY ABUTTING
PROPERTY OF THE
SUBJECT PROPERTY
AS OF FEBRUARY 13, 1998 $11,500
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