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ATTACHMENT 3 <br />Valuation of the Parts Acquired <br />The subject's larger parcel is impacted by two proposed acquisitions: a fee acquisition and a temporary <br />construction easement. <br />Fee Acquisition <br />The area to be acquired for the proposed fee acquisition is 1,266 square feet. This area will be acquired in <br />fee; the property owner will lose all rights to this area and the full fee value of the acquisition area is <br />indicated. <br />Fee Acquisition <br />Assesor's Parcel Land Value Indicated <br />Number Area ($/SF) Land Value Value <br />002-261-29 1,266 $70 $88,620 100% $88,620 <br />Site Improvements within the Acquisition Area <br />The area to be acquired for the fee acquisition is improved landscaping. The site improvements will not be <br />protected in place or replaced as part of the project. The estimate of the replacement cost new of the <br />improvements is based on the Marshall Valuation Service guide published by Marshall & Swift. <br />The estimated replacement cost new for the improvements in the acquisition area is calculated as shown in the <br />following table. <br />Valuation of Site Improvements <br />Area <br />Unit <br />Replacement <br />Site Improvement <br />(Number) <br />Unit <br />Value* <br />Cost New <br />Large Trees <br />4 <br />Qty <br />$4,364.06 <br />$17,456 <br />Small Trees <br />2 <br />Qty <br />$514.50 <br />$1,029 <br />Irrigated Landscaping <br />825 <br />Qty <br />$11.81 <br />$9,745 <br />Concrete Curbing <br />11 <br />SF <br />$25.92 <br />$285 <br />Concrete Block Wall <br />20 <br />SF <br />$17.52 <br />350 <br />Metal Fencing <br />280 <br />SF <br />$30.19 <br />$8,453 <br />Asphalt Driveway <br />215 <br />SF <br />$4.16 <br />$895 <br />$38,213 <br />Add Indirect Costs @ 15% <br />$5,732 <br />Subtotal <br />$43,945 <br />Add Entrepreneurial Profit @ 15% <br />$6,592 <br />Total Replacement Cost New <br />$50,537 <br />Rounded <br />$50,537 <br />*Source: Marshall Valuation Service; Includes local and current <br />multipliers <br />**Minor differences in calculations due to Excel rounding <br />Value of the Remainder as a Portion of the Whole <br />The valuation of the remainder parcel after the partial acquisition and the construction of the project in <br />the manner proposed presumes a hypothetical condition. This is because, as of the effective date of <br />value of this report, the partial acquisition has not yet been acquired or severed from the larger parcel <br />and the project has not commenced construction. Project information received from the client has been <br />relied on in analyzing the impact the proposed project will have on the remainder parcel in the "after" <br />condition. The use of a hypothetical condition may have affected the assignment results. <br />Page 7 <br />