Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
07/10/95 Timmreck Property Appraisal
Roger D. Jacobson,' 7keal Estate Appraiser i. Consultant 1001 South Main Kalispell,. ••0 July 10, 1995 Mr. Bruce Williams, City Manager The City of Kalispell P. O. Box 1997 Kalispell, Montana 59903-1997 SUBJECT: Acquisition Appraisal of the Timmreck Property located at the corner of Airport Road and 18th Street West. Dear Mr. Williams, In accordance with your request for an appraisal of the "fair market value", as defined herein, of the fee simple interest in the above noted property, we have inspected the site, reviewed appropriate public records and have made a careful and thorough investigation and analysis of all matters pertinent to the value as reported in the attached appraisal report. The value estimate is not necessarily "Just Compensation" for an eminent domain action. However, because the property is vacant, the "fair market value" meets most, if not all, of the Just Compensation requirements. By reason of our investigation and analysis, data contained in this report, other information in our files and our experience in the appraisal business, it is our opinion that the "fair market value" of the fee simple property rights as defined herein for the subject property as of June 21, 1995, was: ($100,000) We respectfully refer you to the data herefollowing, from which, in part the value cons l:is;.on was derived. 0 Roger D Tacobson, MAI D. Atkinson, Associate Appraiser 111,161" D) Al"MIETV-913-Molem SUBJECT Land Parcel Located on the NW corner of Airport Road & 18th Street West Kalispell, Montana Roger D. Jacobson, MAI 1001 South Main Kalispell, MT 59901 and John D. Atkinson 1001 South Main Kalispell, MT 59901 Date of Valuation June 21, 1995 Date of Preparation of Report July 10, 1995 Prepared For: Mr. Bruce Williams, City Manager The City of Kalispell P. O. Box 1997 Kalispell, Montana 59903-1997 I Na 110: 41l : e Part I - Preface Title Page Table of Contents (this page) Summary of Important Facts and Conclusions Assumptions & Limiting Conditions Photos of the Subject Location Maps The Appraisal Process Part lI - Factual Data Overview Purpose of the Appraisal Definition of "Fair Market Value" Just Compensation Function of the Appraisal Estate Appraised Scope of the Appraisal Identification of the Property Statement of Ownership and Date of Valuation Regional Data Neighborhood Data Site Data Zoning Assessed Valuation and Taxes History of Property Part III - Analyses and Conclusions Highest and Best Use Sales Comparison Approach Subdivision Considerations Reconciliation Certificate of Appraisal & Restrictions on Disclosure & Use State Certification Information Part IV - Addenda Exhibit 1 - Sales Data Exhibit 2 - Deed, Survey, Flood Hazard map Exhibit 3 - Zoning Exhibit 4 - Runway Protection Zone map Exhibit 5 - Engagement Letter Exhibit 6 - Qualifications of the Appraisers 1 2 2 3 3 4 4 5 5 5 10 10 11 12 12 13 16 19 19 21 22 iii MIT" Milm KIM11,11RX11011 Property Appraised The subject property is a vacant commercial site on the northwestern corner of Airport Road and 18th Street Vilest. Purpose and Function This is an acquisition appraisal for the City of Kalispell. The purpose is to estimate the "Fair Market Value" for potential eminent domain action. The function is to assist the City in determining "Just Compensation" for the taking. Site Data The site is a 1.478 acre parcel with 324.76' of frontage on Airport Road and 197.58' on 18th Street. The site is level, generally at road grade, treeless and grassy. It is an off -highway commercial parcel in an otherwise on -highway commercial area. Zoning The site is zoned B-2, General Business by the City of Kalispell. Owner of Record The site has been owned by Lois J. Timmreck since March 8, 1995 according to the records of Flathead County. It was quitclaimed to her on that date from Carmin Timmreck. Estate Appraised Fee Simple. Date of Valuation June 21, 1995. Value Concluded One Hundred Thousand Dollars ($100,000) IV ffire-TORN1,11-sm FAKII10ROfelik Limit of Liability The liability of the JACOBSON APPRAISAL firm, employees, and subcontractors is limited to the client and to the fee collected. Further, there is no accountability, obligation, or liability to any third party. If this report is placed in the hands of anyone other than client, the client shall make such party aware of all limiting conditions and assumptions of the assignment and related discussions. The Appraiser(s) assumes no responsibility for any costs incurred to discover or correct any deficiencies of any type present in the property; physically, financially, and legally. rvlmnn1 ' , Possession of this report or any copy thereof does not carry with it the right of publication, nor may it be used for other than its intended use; the physical report(s) remain the property of the Appraiser(s) for the use of the client, the fee being for the analytical services only. The Bylaws and Regulation of the Appraisal Institute require each Member and Candidate to control the use and distribution of each appraisal report signed by such Member or Candidate; except as hereinafter provided, the client may distribute copies of this appraisal report in its entirety to such third parties as he may select; however, selected portions of this appraisal report shall not be given to third parties without the prior written consent of the signatories of this appraisal report. Neither all nor any part of this appraisal report shall be disseminated to the general public by the use of advertising media, public relations, news, sales or other media for public communication without the prior written consent of Appraiser(s). (See last item in following list for client agreement/consent). Confidentiality This appraisal is to be used only in its entirety and no part is to be used separate from the whole report. All conclusions and opinions concerning the analysis set forth in the report were prepared by the Appraiser(s) whose signature(s) appear on the appraisal report, unless indicated as "Review Appraiser". No change of any item in the report shall be made by anyone other than the Appraiser(s) and/or officer of the firm. The Appraiser(s) and firm shall have no responsibility if any such unauthorized change is made. The Appraiser(s) may not divulge the material (evaluation) contents of the report, analytical findings or conclusions, or give a copy of the report to anyone other than the client or his designee as specified in writing except as may be required by the Appraisal Institute as they may request in confidence for ethics enforcement, or by a court of law or body with the power of subpoena. Trade Secrets This appraisal was obtained from JACOBSON APPRAISAL and consists of "trade secrets and commercial or financial information" which is privileged and confidential and exempted from disclosure under 5 U.S.C. 552 (b) (4). Notify the Appraiser(s) signing the report of any request to reproduce this appraisal in whole or in part. ►IVA No responsibility is assumed for accuracy of information furnished by work of others, the client, his designee, or public records. We are not liable for such information nor the work of possible subcontractors. Be advised that some of the people associated with JACOBSON APPRAISAL and possibly signing the report are independent contractors. The comparable data relied upon in this report has been confirmed with one or more parties familiar with the transaction or from affidavit or other source thought reasonable; all are considered appropriate for inclusion to the best of our factual judgment and knowledge. An impractical and uneconomic expenditure of time would be required in attempting to furnish unimpeachable verification in all instances, particularly as to engineering and market -related information. It is suggested that the client consider independent verification as a prerequisite to any transaction involving sale, lease, or other significant commitment of funds or subject property. Testimony, Consultation, Completion of Contract for Appraisal Services The contract(s) for appraisal, consultation or analytical service are fulfilled and the total fee payable upon completion of the report. The Appraiser(s) or those assisting in preparation of the report will not be asked or required to give testimony in court or hearing because of having made the appraisal, in full or in part, nor engage in post appraisal consultation with client or third parties except under separate and special arrangement and at additional fee. If testimony or deposition is required because of any subpoena, the client shall be responsible for any additional time, fees, and charges regardless of issuing party. Exhibits The sketches, maps, and photos, if any, in this report are included to assist the reader in visualizing the property and are not necessarily to scale. Site plans are not surveys unless shown from separate surveyor. Hidden Components of a Leeal, Engineering, Financial,_ Structural Soil or Mechanical Nature No responsibility is assumed for matters legal in character or nature, nor matters of survey, nor of any architectural, structural, mechanical, or engineering nature. No opinion is rendered as to the title, which is presumed to be good and merchantable. The property is appraised as if free and clear, unless otherwise stated in particular parts of the report. The legal description is assumed to be correct as used in this report as furnished by the client, his designee, or as derived by the Appraiser. Please note that no advice is given regarding mechanical equipment or structural integrity or adequacy, nor soils and potential for settlement, drainage, and such (seek assistance from qualified architect and/or engineer) nor matters concerning liens, title status, and legal marketability (seek legal assistance), and such. The lender and owner should inspect the property before any disbursement of funds; further, it is likely that the lender or owner may wish to require mechanical or structural inspections by qualified and licensed contractor, civil or structural engineer, architect, or other expert. The Appraiser(s) have inspected as far as possible by observation, the land and the improvements; however, it was not possible to personally observe conditions beneath the soil or hidden structural, or other components. We have not critically inspected mechanical components within the improvements and no representations are made vi ROGER. JACOBSON, herein as to these matters unless specifically stated and considered in the report. The value estimate considers there being no such conditions that would cause a loss of value. The land or the soil of the area being appraised appears firm, however, subsidence in the area is unknown. The Appraiser(s) do not warrant against this condition or occurrence of problems arising from soil conditions. The appraisal is based on there being no hidden, unapparent, or apparent conditions of the property site, subsoil or structures, nor toxic materials which would render it more or less valuable. No responsibility is assumed for any such conditions, nor for any expertise or engineering required to discover them. All mechanical components are assumed to be in both operable conditions and status; standard for properties of the subject type. Conditions of heating, cooling, ventilating, electrical and plumbing equipment are considered to be commensurate with the condition of the balance of the improvements unless otherwise stated. No judgement may be made by us as to adequacy of insulation, type of insulation, or energy efficiency of the improvements or equipment which is assumed standard for subject age and type. The Appraiser(s) assume no responsibility for any costs or consequences arising from the need or lack of need for flood hazard insurance. An Agent for the Federal Flood Insurance Program should be contacted to determine the actual need for Flood Hazard Insurance. Legality of Use The appraisal is based on the premise that, there is full compliance with all applicable federal, state and local environmental regulations and laws unless otherwise stated in the report; further that all applicable zoning, building and use regulations and restrictions of all types have been complied with unless otherwise stated in the report. Furthermore, it is assumed that all required licenses, consents, permits, or other legislative or administrative authority, local, state, federal and/or private entity or organization have been or can be obtained or renewed for any use considered in the value estimate. Component Values The distribution of the total valuation in this report between land and improvements applies only under the existing program of utilization. The separate valuations for land and building must not be used in conjunction with any other appraisal and are invalid if so used. Auxiliary and Related Studies No environmental or impact studies, special market study or analysis, highest and best use analysis study or feasibility study has been requested or made unless otherwise specified in an agreement for services or in the report. Dollar Values, urchasin Power ower The market value estimated, and the costs used, are as of the date of the estimate of value. All dollar amounts are based on the purchasing power and price of the dollar as of the date of the value estimate. Vll Inclusions Furnishings and equipment or personal property or business operations except as specifically indicated and typically considered as a part of real estate, have been disregarded with only the real estate being considered in the value estimate unless otherwise stated. In some property types, both business and real estate interests and values are combined. Proposed Improvements, Conditioned Value Improvements proposed, if any, on or off -site, as well as any repairs required, are considered, for purposes of this appraisal, to be completed in good and workmanlike manner according to information submitted and/or considered by the Appraiser(s). In cases of proposed construction, the appraisal is subject to change upon inspection of property after construction is completed. This estimate of market value is as of the date shown, as proposed, as if completed and operating at levels shown and projected. Dvnamic Market. Influences. Value ChanLye. and Alteration of Estimate by Auoraiser The estimated market value, which is defined in the report, is subject to change with market changes over time; value is highly related to exposure, time, promotional effort, terms, motivation, and conditions surrounding the offering. The value estimate considers the productivity and relative attractiveness of the property physically and economically in the marketplace. In cases of appraisals involving the capitalization of income benefits, the Estimate of Market Value, Investment Value, or Value -In -Use is a reflection of such benefits and Appraiser's interpretation of income and yields and other factors derived from general and specific client and market information. Such estimates are as of the date of the estimate of value and are subject to change as a result of natural market and value dynamics. The "Estimate of Market Value" in the appraisal report is neither based in whole or in part upon the race, color, nor national origin of either present owners or occupants of properties in the vicinity of the property appraised. Both the appraisal report and the value estimate are subject to change if physical or legal entity or financing is different than that envisioned in this report. Management of the Property It is assumed that the property which is the subject of this report will be under prudent and competent ownership and management; neither inefficient nor superefficient. Continuing Education Current The Appraisal Institute conducts a voluntary program of continuing education for its designated members; MAIs who meet the minimum standards of this program are awarded periodic educational certification and MAIs signing the report are currently under this program. vid M.THS ta kin F&TKII: O"K The fee for this appraisal or study is for the service rendered and not for the time spent on the physical report or the physical report itself. Insulation and Toxic Materials Unless otherwise stated in this report, the Appraiser(s) signing this report have no knowledge concerning the presence or absence of toxic materials and/or urea -formaldehyde foam insulation in existing improvements; if such is present, the value of the property may be adversely affected and re -appraisal at additional cost necessary to estimate the effects of such. f Unless otherwise noted herein, review Appraiser has reviewed the report only as to general appropriateness of technique and format, and has not necessarily inspected the subject or market comparable properties. Chan, Modifications The Appraiser(s) reserve the right to alter statements, analysis, conclusion or any value estimate in the appraisal if facts become known which are pertinent to the appraisal process and which were unknown when the report was finished. "Americans with Disabilities Act" The Americans with Disabilities Act ("ADA") became effective January 26, 1992. I have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that an ADA compliance survey of the property, together with a detailed analysis of the requirements of the ADA, could reveal that the property is not in compliance with one or more of the requirements of the act. If so, this fact could have a negative effect upon the value of the property. Since I have no direct evidence relating to this issue, I did not consider possible non-compliance with the requirements of the ADA in estimating the value of the property. , , i . . • , i , ' , ,,.. ix ROGERD. JACOBSON, Looking west along 18th Street West from the same corner. Rn(iF.R n- TACORSON. Looking north along property line from SW corner (stake). Harball office Bldg at center. xi ROGER D. JACOBSON. Location Map MONTANA Standard Metropolitan Statistical Areas, Counties, National Park (Part), and Selected Places 1 116' 2 115' 3 114' 4 113' S 112' 6 ill' 7 110' a- lDr 9 low 10 107' 11 106' 12 105' 13 IN- 14 50 50' A A CANADA 49 49' J DANIELS SHERIDAN LINCOLN GLACIER TOOLE B P� HILL � B FLATHEAD y�9 BLAINE VALLEY ROOSEVELT NORTH PONDERA PHILLIPS OAKOTA 46' � 46' TETON CHOUTEAU RICHLAND SANDERS LAKE GREAT FALLS MCCONE C C O Gnat FMIi GARFIELD DAWSON 'L LEWIS AND CASCADE FERGUS 47• MISSODU CURK JUDITH BASIN OLEU m �Missoula PRAIRIE WIBAU% POWELL � D Hal.. MEAGHER D GRANITE /� WHEATLAND MUSSELSHELL FALLON 3� IDAHO RAVALLI JEFFEASON GOLDE _ - �k ROSEBUD CUSTER _ DEER O VALLEY ODGE RVER BOW '' SWEET C B.Q Sllw GALLATIN GRASS 0 BILLINGS CARTER SO E Bow PARK 10Q' @l:t E BIG HORN POWDER RIVER b yS\yy�r BEAVERHEAD MADISON �% 0 CARBON 45. / u. YELLOWSTONE _ NATIONAL PARK WYOMIHG F F LEGEND Staneard mstropoi-n atatl50cal ana (SMSAI ' Q Pop of KKL000 w mua Inhabitants Y� O Play of SO,G - . ,^' ;1 In habllants .'-_.x` v, _:'»" • Plop of I,..1r1>�nb . - -�4r..., �.. •,.' O SMSA a... 1 • lhcn 25,ODO Inhabhanb 0 20 40_.,W±1 1L., :010meta,a G 1_J State 4Pit.l �I..:.•f r : G 0.. 20 40.. W BO 100 Mllas I All polhicai L- -J,.. .s aI January I, W80 13' U.S. Ds1»nmam of Commarp aUaFAtt w THE -X 4'' 2 115' 3 114' 4 113' S 112' 6 111- 7 110' 6 for 9 108' 10 107' 11 106' 12 105' 13 104' BUREAU OF THE CENSUS nt%rirn " 1rA!1"1DQ"XT X4AT CA [ Mtn Lion77 xs J -� �rlex IT LA EII , II Location Ma 3lI� p .� . I�— r r T/I �'I(wt�, WkLIL LAK l �.. �L ems. rI��NGII R I,�� S� a�/=• if �'- Lak S M 70] Aid. _J -:-.\�171 - �925 II • I `Jl�ktr/J • =Pr((��((• l.. �j�/, %} \ 1 35661 11 VI S)-s.rurW�ll• •� •�� •�_ _3Nk !.• 30M '3 , '6 3^ r`} f BU HA� .1 ��• I �.—�`., rllf=1`L`' --'� 3gia .. Rr�rF' j BWnrh Cd ,v� • III t.�� ''.. 6M30e7 - % \\ 1u #� • Sk �ja�k ol• �1011 .p it \r TJz� . . , � ravel gyp• IIj) �! 1;. I r III (ram\= ly.IL �. ' 1\�\\'1 11 l 11 \\1,Vh3 ' 4 -•I -�- •--JI . 1.^I.13 t YY 17 ' xa• ��•• i --fir = I •r .s• T "` as ems. 1....- 1�( .�\/1111 1 � 1I`#�f� �.`' 1 = 1 ��'�j�,-z• - „�,��n iMJ'-j- Z(I a- • �L', }Vol.nhn•J, "� i' •�BM ]089 . _ u l23 7. (Y za, 71 32 33 •(-� . :}�• KONIN_f s0 1 II 7 • 1 1 v, •l\ J)\ • W V d w1 • allmood 'W -7i r BEND 'u L x; 1 s an � w�l•M 27 t x 7• • (1 n 3rc. rw • f %�ril Y av 11 n ' ao,:.W xc p- u . n IluAgPexAp,rrW��l -=_sJ. `2 Z T �l .�— L -y�• 0 r— L _ - n ( I: iha e s 4 3a r r �r� �y y p i �L 11 1 33 J 37 33 ,r31 3i • �•\ • 33 • •• , • 31 • I • • • _ If 7• .�` r_� • LOWO SN 0. ••Ff . -0 IN ItAlf /1 C • 8. 30 2 _j L GtA lfl� ' 4•,,,. '(aSall_ I I � ' j1• 4 I �= c , 1 ,JI,N . i • 5 5.. 'INifR 'ONAt � 1 5 . 7 Sfomiw R • �� 7 1 �� 11 • W3Ra•LA 1 + � • n R I �� n — it O..QParI II to l Il`i �• 17 ' �xJ,L,_•JJ�' `� 3.-. 19' 4 ` /w.l}•ESENTINE i i 9 •• J - t _ I II 93 711 • •!( I :'•,.L �� 1 • L 4 2 ; - 10 II - I �'� --- --ax jl \ I•�„A.. �:• �� Imo. _ r' 1 i 14 �3 = le Ij ■' le ks,�.k`� 1' F-1i •°�e II 11 \~ i1 1 L •li 7 r 16 IS 111 1�. _ , __ a �"4 • � � �, �` II ' 11 • 11 F I 4932 v n I- __- 111f) • LL Plp. Grov. _ -� o Ir C.m _ v1 fz ��1 rU 30 3i��3 III xo `_ ' li 13 �e= lee �r--ho7 :,mu ,r 17 • l CC xa _ xa '} Owl �oidSn7 r�J n O ' 2. ` •� J., 1 3,,•= l l x alrvl. 'w` I y T L 1 �_ �I • -_.. L � SfNI 1��. 1u � • _ <..5�..3, �11 �L._ �� `• I � -s _ Ji •/f �✓r- Sprmy Cr.el ISbte�,i='X_'=-,, II _ l �. •+ •�• •... �. 1� 31 Ir' 33 �7 t��, jII �a.�pG�a4.ppl Fviit Lfi. jV�JI Y a33: `JI 3q I 3335 3070 Spv. W SprnO CrMI G MoNIlOIOw%. f,11l a.w • • jC1 � IJ! l44 r y u • EM 2977 •i• :� ayuse Gr-.l a N q� w `` • .3 t ,j� •'j. DD 7EE• 1~�Ij�PtlafdB:.��`'^.lP �ur • L� �7 0 411 12�ERAI t11 2 1 I C eti • �• HArt �IY�' -g --_- - Ire 111 if-M-f9. j a i �jo '508 •• = AD•: A ON tyl•y_#14 + .. P _ 1/ 13 1. 17 16 a • � IS � �er ) I I83 �o�J •z3\ 11-, .0 / ._ 1a •—zo xl �. e. Ally ONE f' f 293E s zn "�tl 7 M 29a8 -, (_ ' FojTATE PARK �aZ e9 - }.\ r \ 1 ? J eel • 7 a_'I;'d5anti]jam" � -� -7- r • _ i -i- —. -��_ --.. � -�'�\In IIIrf 11 u. �y ti.t�i',,€ .i• '� Ha!/ 00 1 r r,J `: _I `\\ c O� �) • Sr1V.(�rCll¢ \\ + � • .1 � �Oaa t��� \ � f / IIµ'(jg, BOAT xi�,l 361,, 33'Rdnch• _ j3•Rrri......OG••'e • n r C° 76\n:,J - 75 I �� I" V xa ��•. tl� L LAUNCH i •� wea p S� 11 = •�Ld1 I- VVV --T— + �7I I !1p/ •i_ .f oysBeriTHEA iiCi 321 as s--! n•_ �.311 tll 32y ' 22 ,�W II ;1 .{µ •• `� R 21 a�� 11__" �J� •2( RO(,F,R R JACORSnN, MAi y N Harcn �` Location Map ^.. C) / o Dr D I b� % t.. Hills Cir = . i e i. 9 Sun nlit ct Indian Irail ' F.tt tiunnn)I ('ir Rd `ndl, - ), rp;t . itI 'ler tit Ililllo) A)t• .t/tom `� 4 (r /r/Ir/ �a�i �G r. 2 i r : Ridgriien��.�. :^ Dr weshlo rH �a tiah A,hlet Heritage Columba 1r Lane i Fox Hill .5 �%' � �'^""") � Grand'/ P Ufhe Zr Ilrrl�r. ° � '� s )ire Ln Ll �_/�- s Y anis Ht,,dCn % ^ e > gateSunn ;'heciot sunset I Loopm KA . SPEL 1� CI = Y v 1(EI;IONAL IIOSPITA ( I .c B sits a_ ^ V / c l,u 10� _ 1a+Bounli oS j 15 �� Drise full)r=jI� Sa.cr re InnLaneR6eq (;lens, '..� f 1 0, ..> . y Z Mont Y - - 14)dcrhill ('1 L Q u 's. L o % v ( Z Ainle `= Liberl� B II t 1t'. ` t ti(- 'S4�js EMi.' 0 Q � Imo;, y C L Urive _ Sl W ('olorat(a * 1 . L Z ( Z 2 1 I h 'e C l Bj) nniin ef. C� s] 4 Orfgor l t 1. herICI W 11 )train' d3 E e` d. YelloaalonetiWtomin �` E la •� ..-un rst ClCVV �>+d. alilorn' s: ;,� � � t Glacir ti e F. Cr..All Conrad I nl tit eon .'� laanoriai \ / 51111 ttc o $ n�hln to Cemela/ as U Co - - - r y b a i tn on E � � ny n � Huskr MEJ.A W V .-a- D not n` tit o y St ly W (V 4i I'.( 1 WX)I)I.AND 'C Shadv Glen t1r PARK w FV.ax%- / Wp )vt 4a spot IanJ Z .en%taa Ln 7 - r Wnod' c 4 tse 3 v o St z z t7 f, heC 1�t F ire Ot '+n tit Prrt, ` � _ e a, L. W tit W Bill : e E g �Apple %. Dr ; x lit W i it SI t - -.� n tit r '� 1 •u � �i 3 it tit W � r J J G i--�_ KALISPELL J ` ' t• Concord Lane 3 3 r tit W tfi tit V. ' ~4�V c \ J Ih tit W 9th 'r t tit @ Treasure Ln s; pt1 tit W 4 c lathtitt. St W SI W r. lhtitfi' ctt ma's "oto� Greenr!8 Lake Road o Yp lth • 2t � 1' ( $t Greenv Y aler Lehi 7-� Dricc / ' x Ln O 7 1000 Nallel -- Unrrrndrle " tbun Learn View AshlDr er Y ('uun Dr Ift Lrne s Lane A SI tt - St R G x a South ltaalland Sunnyside Drive ; unite i m LONE NNE�'., * Haven Dr ::. G� Stag Ln STATE NARK Bluestonefi v"°cG` �c� f Dr �' '� C CamcloH r 'Par G2 ,, Drive •� a Green 7� Co%.e 7 7�' 1 G 1 �A `'. F.F.A. Dricc oo� rr ..,,in Acres -p sewn(.E Dr _ �9J',�,�" DemCfSVille <d Ln Z CemetaFr t %tail I.n �O Cemetary Road J Lotter Vallev Roa �r Cemelan Road �9r1. v 1R �l It ' T,' 112 ll 11 A f-l"D IL!"NT A 4 A r The appraisal considers socio-economic conditions as they affect the property being appraised. This encompasses the national, regional, city, and all other factors that affect the property either advantageously or disadvantageously. A physical inspection of the property, neighborhood and city area is made as a basis for analysis and application of the three (3) recognized approaches to real property valuation - Market, Income and Cost. These three separate approaches to value are tools that are used by the appraiser in arriving at a final conclusion of value. While each of these approaches are inter -related, they approach the valuation process from different sets of circumstances. An explanation of each approach is included that respective portion of the report. The Market Approach has its best application where there has been an active real estate market for the class of property being appraised. The Income Approach is considered very important for the appraisal of investment properties. The Cost Approach is most useful when the improvements are new or nearly new, and tends to lose reliability as improvements become older and obsolete. In many appraisals all three approaches are applicable; in others only one or two approaches may be applicable. In arriving at a final value estimate, the appraiser reviews all applicable approaches to value. The most weight is given to the approach or approaches that provide the most reliable information for the property being appraised. The appraisers's opinion of value is thus based upon the interpretation of facts developed from the market place, utilizing the appraiser's general knowledge and experience in the judgment and analysis of the available data. xiv ROGER. JACOBSON, I r The subject is a 1.478 acre, rectangular, vacant parcel of land on the northwestern corner of Airport Road and 18th Street West, Kalispell, Montana. The property is within 1,200 feet of the north end of the runway of the Kalispell City Airport, and is therefore within an area defined as the "Runway Protection Zone" by the FAA (Exhibit 4). Although the Kalispell City Airport is not controlled by FAA regulations, the City has expressed a desire to impose FAA guidelines on the Airport and surrounding areas for safety reasons. Runway Protection Zone "Approach protection zones were originally established to define land areas underneath aircraft approach paths in which control by the airport operator was highly desirable to prevent the creation of airport hazards. Subsequently, a 1952 report by the President's Airport Commission (chaired by James Doolittle), entitled "The Airport and Its Neighbors, " recommended the establishment of clear areas beyond runway ends. Provision of these clear areas was not only to preclude obstructions potentially hazardous to aircraft, but also to control building construction as a protection from nuisance and hazard to people on the ground. The Department of Commerce concurred with the recommendation on the basis that this area was "primarily for the purpose of safety and convenience to people on the ground." The FAA adopted "Clear Zones" with dimensional standards to implement the Doolittle Commission's recommendation. Guidelines were developed recommending that Clear Zones be kept free of structures and any development which would create a place of public assembly. "1 Subsequently the term "Clear Zone" was replaced with "Runway Protection Zone", or 11"Zrr "The RPZ's function is to enhance the protection of people and property on the ground. This is achieved through airport owner control over RPZ's. Such control includes clearing RPZ areas (and maintaining them clear) of incompatible objects and activities. Control is preferably exercised through the acquisition of sufficient property interest in the RPZ."2 The RPZ is trapezoidal in shape and centered about an extended runway centerline. It begins 200 feet beyond the end of the runway and, for the Kalispell Airport, extends for a length of 1,000 feet. The outer width is 450 feet. The FAA suggests that "Where practical, airport owners should own the property under the runway approach and departure areas to at least the limits of the RPZ. It is desirable to clear the entire RPZ of all above ground objects."' 1 U. S. Department of Transportation, FAA, Advisory Circular 150153, dated 6/5/91, page 139. 2 U.S.D.O.T., FAA, Advisory Circular 15015300-13 CHG 1 dated 6/5/91, page 12. 3 Ibid. Page 140. NW Corner Airport Rd. & 18th - "Timrnreck Lot" June 21, 1995 1 I:ZiT"'I'MIUM-ME GO-Y-V Because these FAA guidelines are designed to enhance public safety, the City has decided to adopt them wherever possible or practical. The function of this appraisal is to assist in a possible eminent domain acquisition of the subject property because it lies within the designated RPZ of the north end of the Kalispell City Airport. 1 1 i The purpose of the appraisal is to estimate the "Fair Market Value" of the subject property. "Fair Market Value" considers the "Just Compensation" requirements of the Fifth Amendment in an eminent domain taking. The U. S. Department of Transportation publication # FHWA-PD-93-032, "The Appraisal Guide" Revised June 1993, Pages 50-52 outlines the definition of Fair Market Value, and is stated below. This appraisal is made at the request of Mr. Bruce Williams, City Manager, representing the client, the City of Kalispell, Montana. Definition of Fair Market Value: "For the purpose of valuing the property, including land and any building, structure and improvement thereon, acquired under the power of Eminent Domain by the Federal government or using Federal -aid or Federal grant funds, Fair Market Value is the amount of money (cash or its equivalent) which, as of the date of valuation: An informed and knowledgeable purchaser willing, but not obligated, to buy the property would pay to an informed and knowledgeable owner willing, but not obligated, to sell it. Taking into consideration all uses for which the property is suited and might in reason be applied; including, but not limited to the present use or highest and best available use taking into consideration the existing zoning or other restrictions upon use and the reasonable probability of a change in those restrictions. Allowing a reasonable period of time to effectuate such a sale. Disregarding any decrease or increase in fair market value of such real property prior to the date of valuation caused by the public improvement for which such property is acquired, or by the likelihood that the property would be acquired for such improvement, other than that due to physical deterioration within the reasonable control of the owner. Disregarding the fact that the owner might not want to part with the land because of its special adaptability to the owner's use. Disregarding the fact that the taker needs the land because of its peculiar fitness for its purpose. NW Corner Airport Rd. & 18th - "Timmreck Lot" June 21, 1995 2 lid =1. �. �: •► Disregarding any "gain to the taker", i.e., not giving consideration to the special use of the condemnor as against others who may not possess the right of Eminent Domain. Including the value of any buildings, structures, or improvements located upon the land, which are required to be removed or which it is determined will be adversely affected by the use to which such real property will be put, regardless of whether such building, structure or improvement is classified as real or personal property under local law. Such buildings, structures and improvements are valued based upon their contribution to the fair market value of the real property to be acquired or their value for removal from the real property (salvage value), whichever is greater. This includes tenant owned buildings, structures, or improvements, even if the tenant has a right or obligation to remove the building, structures, or improvements at the expiration of the lease term and even if classified as personal property under local law. Fair market value, based upon adequate recent comparable sales and offering data is usually the measure of just compensation."' Just Compensation: Just Compensation has been addressed in at least three separate cases: "As used in the Constitutional Provision as a limitation upon the power of Eminent Domain implies a full and complete equivalent (usually monetary) for the loss sustained by the owner whose land has been taken or damaged. "$ "It is the what the owner has lost and not what the condemnor has gained. i6 "Fair market value is usually the practical standard used. Normally fair market value approaches just compensation demanded by the Fifth Amendment. "' The function is to assist the City of Kalispell in determining the amount of "Just Compensation" for the acquisition of the subject property in order to control the RPZ of Kalispell City Airport. 50-52 4 U. S. Department of Transportation publication # FHWA-PD-93-032, "The Appraisal Guide" Revised June 1993, Pages 5 US v. Miller, 317 US 369, 87L Ed. 336,63 S Ct. 276 6 Shoemaker v. US 147 US 282, 37 L Ed. 170, 13 S Ct. 361 7 US v Toronto, Hamilton and Buffalo, 338 US 396 NW Corner Airport Rd. & 18th - "Tinunreck Lot" June 21, 1995 3 f'FR D- JACOBSON. MA Although the airport has existed for some time, the adoption of FAA guidelines is a City decision. There are no regulations presently in place other than zoning which govern the use of the property. The Fair Market Value definition is to disregard any decrease in value resulting from the action, therefore the fact that the subject property lies within a City (FAA) designated RPZ will be disregarded. Fee Simple - "Absolute ownership unencumbered by any other interest or estate subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat. "' Scope of the Appraisal: The scope of the appraisal encompasses the necessary research and analysis to prepare a report in accordance with the intended use, the Standards of Professional Practice of the Appraisal Institute, and the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation. In regard to the subject property this involved the following steps: 1. The property was inspected on June 21, 1995. The photographs included in this report were taken on that date. Mrs. Lois Timmreck, the owner of record, was invited to be present during the inspection, but declined to do so. 2. Regional, city, county and neighborhood data were based on information acquired from area Chamber of Commerce offices, local news sources and files maintained in the Jacobson Appraisal office on an ongoing basis. Census data was obtained from the Bureau of the Census as distributed to local governments. 3. In estimating the highest and best use for the property, an analysis was made of data compiled in the steps noted above. 4. In developing approaches to value, the market data used were collected from the Jacobson Appraisal office files, other appraisers, realtors or persons knowledgeable of the subject property marketplace, and the municipal offices in Flathead County. 5. After assembling and analyzing the data defined in this scope of the appraisal, a final estimate of value was made. 8 "The Appraisal of Real Estate - Tenth Edition", Appraisal Institute, 1992, page 122. NW Corner Airport Rd. & 18th - "Tirnmreck Lot" June 21, 1995 4 ROGER. JACOBSON. MA Identification of the Property: The subject is a 1.478 acre, rectangular, vacant parcel of land on the northwestern comer of Airport Road and 18th Street West, Kalispell, Montana. The legal definition is lengthy and is shown as part of the Quitclaim Deed in Exhibit 2. The site is further identified in County records as Tract 8, Section 18, T28N, R21W, and also as Parcel "C" on Certificate of Survey #11395 (Exhibit 2). Statement of Ownership and Date of Valuation: The property is owned by Lois J. Timmreck according to the records of Flathead County (Quitclaim Deed dated 3/7/95, recording #9506714180, Exhibit 2). The Date of Valuation is June 21, 1995. Regional Data: Location Flathead County is located in northwestern Montana. The primary population centers in the County are Kalispell, Whitefish, and Columbia Falls all located in the Flathead Valley near the south central part of the County. U.S. Highways 2 and 93 intersect at Kalispell. Kalispell is about 120 miles north of Missoula, Montana, 65 miles south of the Canadian border, and 250 miles east of Spokane, Washington (road mileage). Glacier National Park adjoins the northeast border of Flathead County. Kalispell in the past 20 years has emerged as a regional trade center, serving the northwestern Montana counties of Flathead, Lake, Lincoln, Sanders, and parts of Glacier and Missoula. Climate Flathead County is in an area of climatic transition. West of the Flathead Valley is a weather system influenced by the Pacific Ocean with moderate temperatures, wet winters and dry summers. To the east, beyond the Continental Divide, the more severe climate of the Great Plains prevails with typically cold, dry winters and warmer summer temperatures. Located west of the Divide, Flathead Valley weather is mild for its latitude and longitude. Average annual precipitation is 15.02 inches. The large water area of Flathead Lake as well as the Flathead River and many smaller lakes and streams are moderating influences on the temperatures which typically range between 20 and 85 degrees. Population The Flathead County population has increased rather sharply in contrast to most areas in Montana since 1960. NW Corner Airport Rd. & 18th - "Timmy eck Lot" June 21, 1995 5 I'ULATION Flathead County State of Montana Year Population % Change Population % Change 1950 31,495 - 591,024 - 1960 32,965 + 4.67 % 674, 767 + 14.17 % 1970 39,460 +19.70% 694,409 + 2.91% 1980 51,966 +31.69% 786,690 +13.29% 1990 59,218 + 13.96 % 79905 + 1.57 % (Source: U.S. Census Data) The above -average population growth in the County is primarily attributed to an increasing awareness by people outside the area of the County's natural recreational opportunities. Growth and development is particularly evident near lakes and wilderness areas. These natural elements, in addition to an increasing number of golf courses, a large ski resort, substantial medical facilities, and cool summer temperatures have attracted retired people and others with leisure time, and this trend is continuing. The distribution of the population between the main city areas and the rural areas may also be examined for indications of market demand. POPULATION DISTRIBUTION 1980 Population % Chg 70-80 1990 Population % Chg 80-90 Rural Flathead County 34,502 50% 39,991 16% Kalispell 101648 1 % 11,917 12 % Whitefish 3,703 11% 4,368 18% Columbia Falls 3,112 17% 2,942 ( 5 %) Total County 51,966 32% 59,218 14% Population growth in both Kalispell and Whitefish is due largely to annexation activities. It remains apparent that rural locations within the county continue to be in demand and are increasing at a more rapid rate than the county as a whole. NW Corner Airport Rd. & 18th - "Tinunreck Lot" June 21, 1995 6 ROGER_ JACOBSON. Economic Base Flathead County has a relatively diverse economic base which has a moderating influence on the economy. With woods products, tourism, governmental offices, aluminum production, the high-tech computer industry, agriculture, a regional medical center, a small college and many small, diverse industries, Flathead County experiences fewer economic fluctuations than in other areas of Montana dependent on one or two industries. Historically, the largest employer has been the woods products industry, with logging and sawmill operations reflecting good growth through 1980, when reduced demand was experienced. Then in 1985 demand improved and the industry provided a positive influence on the local economy through 1990. Since then the combination of reduced demand and a limited supply of logs from increased environmental concerns has troubled the industry. These external factors along with an improved production efficiency within the industry has had a dampening affect on employment. The Columbia Falls Aluminum Company, an aluminum reduction plant, has had varying economic conditions depending on the world price of aluminum and the cost of electricity. It was acquired by a private group in 1985. World prices of aluminum increased such that in September 1987 the company issued bonuses reportedly in the range of $8,000 per employee. Subsequent profitable years allowed large employee bonus payments in 1989 and 1990. Aluminum prices subsequently declined and the cost of electricity from Bonneville Power increased, resulting in the closing of some production lines and additional employee layoffs. As of April 1995 however the Columbia Falls Aluminum Company announced that a combination of an improved aluminum market and an offer from Bonneville Power Company would result in start-up of closed production lines and the accompanying re -hire of employees. Service employment, however, has had substantial growth. The external draw from tourism, recreation and gambling as well as increases in retailing and medical services has caused the service sector to support an increasingly larger share of the economy. The tourism increase in recent years will likely be a stabilizing factor for the local economy. Recreational opportunities include Glacier National Park, with the West Entrance only 32 miles northeast of Kalispell. Visitations to Glacier National Park increased steadily from 1,580,620 in 1985 to 2,152,989 in 1994. In addition to Glacier Park, two large wilderness areas and over 2 million acres of National Forest lands are nearby. The Flathead Valley has many natural lakes and rivers for recreation. The primary draw is Flathead Lake, 7 miles south of Kalispell. About 30 miles long and 14 miles wide, Flathead Lake is the largest natural body of fresh water within a single state west of the Mississippi River. Rafting on the areas many rivers (some designated wild and scenic) is becoming an increasing recreational draw. The Big Mountain Ski Area at Whitefish has expanded facilities substantially in recent years. Winter Sports, Inc., the owner/operator reported a record 291,554 skier visits for the 1992/93 season, exceeding the previous record of 288,056 of the 1990/91 season. Higher Canadian exchange ............................................... NW Corner Airport Rd. & 18th - "Timmreck Lot" June 21, 1995 7 ���KEYK#j IRK1101 rates and air fares however were partially responsible for a decline in the 1993/94 season to a total of 265,800 skier visits. Early snowfall in November 1994 however allowed the earliest opening of the resort in the history, with limited facilities open two weeks prior to Thanksgiving. The resort has recently made substantial improvements to handle its ever increasing numbers. News releases indicate that the 1994-95 year set a new record for skier visits. Golfing has become an increasing draw to the area with golf courses at Kalispell, Whitefish, Columbia Falls, West Glacier, and Bigfork. In June 1992 the first nine holes opened for play at Village Greens, located about two miles northeast of Kalispell. The second nine holes opened for play in August 1993. Village Greens is a planned residential/ golf development catering primarily to retirement living. A new privately owned 18 hole course to be located just north of Kalispell was announced in 1993 by the developer, LHC Inc. of Kalispell, however construction has not yet started. A second private developer has purchased 200 acres located about four miles north of Kalispell on Highway 93 and plans construction of a high quality 18 hole course, with ground breaking in 1995 and play beginning in 1997. Transportation Glacier Park International Airport is centrally located between Kalispell, Whitefish and Columbia Falls. It is currently served by Delta Airlines which has two 757 flights daily to their hub in Salt Lake City, Horizon Airlines, a Washington based commuter airline affiliated with Alaska Air, providing service to Spokane and Billings. Northwest Airlines will begin daily service to Minneapolis on June 1, 1995. Sky West a commuter airline affiliated with Delta has begun daily service to Salt Lake City. The Airport Authority reports 1994 passenger boardings were 101,715, up 13.6 % from 1993, and the ninth straight year of boarding increases. Amtrack serves the County with stops in Whitefish, West Glacier and Essex. Their Empire Builder provides east/west service between Chicago and Spokane and has boardings daily for each travel direction. A recent announcement was made by Amtrak to limit service to four days a week beginning in February 1995. Burlington Northern provides freight service on the same east/west route as well as south to Kalispell. Community Facilities Hospitals include Kalispell Regional, built in 1975-76 and North Valley in Whitefish, built about 1973-74. Kalispell Regional Hospital is at present a 100 bed facility and has completed several major additions since it opened in 1976. In 1980-81 a major expansion involved the addition of extended laboratory and x-ray facilities, including a CT Scan facility and a special care unit. In 1985 the Brendan House was completed adjacent to the main hospital, providing an 80 bed nursing care facility. In 1986 the hospital acquired a former church property located near the hospital and completed a conversion to a 'Health Promotion Center' for outpatient rehabilitation. In 1987 the Second Wind Fitness Center was acquired for additional rehabilitation use. In September 1987 construction was completed on a free standing obstetrics facility, cancer treatment facility and the installation of an MRI (Magnetic Resonance Imaging) machine. In 1992 construction was completed on an emergency room wing and expanded operating room facilities including day surgery. In ............................................... NW Corner Airport Rd. chi 18th - "Timmreek Lot" June 21, 1995 8 ROGER D_ JACOBSON. MA November 1994 construction started on an 83,000 square foot facility which will replace the present Second Wind Fitness Center. In general, the Flathead area is characterized as having a high per -capita number of professional medical people. Private medical offices have continued to develop near the hospital, with the most recent project including a 20,000 square foot professional office designed for and to be occupied by a group of doctors with specialties of eye, ear, nose and throat. Kalispell, Whitefish and Columbia Falls all provide city water and sewer services, and are incorporated cities that include police departments. Kalispell has a full time fire department, while Whitefish and Columbia Falls are volunteer organizations. Electric services are provided by Pacific Power and Light and the Flathead Electric Cooperative. Natural gas is furnished by Montana Power Company. Telephone service is by Northwestern Telephone, a subsidiary of PTI Communications. Banking facilities include an affiliate of Norwest Bancorp of Minneapolis, First Interstate Bank, Citizens Bank of Billings, Montana, and 7 locally owned banks. There are two savings and loans serving the area, First Federal Savings Bank, recently renamed Glacier Bank with headquarters in Kalispell, and Security Federal Savings Bank with headquarters in Billings. Trends Continued growth is forecast for the Flathead Valley in general, with population increases concentrated in the rural unincorporated areas near Kalispell and Whitefish. Strong demand is also noted for recreational properties, particularly those with waterfront influence, but also those with adjacency to national forest or park land, or golf courses. The general trend noted in the valley of increased tourism and tourist related business has been the bright spot in the economy. Tourism and recreation are likely to continue to increase. Recent projects include the 1986 completion of the Kalispell Center Mall and Cavanaugh's Inn, an $18,000,000 complex near the Kalispell CBD; a Hardee's Restaurant at $850,000 in 1986; the 100 unit Buffalo Hill Terrace Christian Retirement Residence project in 1988 at $6,000,000; a Rax Restaurant at $750,000 in 1988; the Northwest Professional Center Medical Office Building at $1.9 million in 1989; the $1,000,000 office building for the Murphy, Robinson, Heckathom & Phillips law firm in 1989; offices for the State of Montana Fish, Wildlife and Parks Department at $1.3 million in 1989; the new Flathead Valley Community College campus at $6,000,000 in 1990; a 64 room Days Inn in 1990; a PAMIDA retail store at $2.2 million in 1990; the Tidymans 58,000 square foot market completed in May 1992, and the new U.S. Post Office complex which opened December 7, 1992. A new 20 bed $1,000,000 "personal care" nursing facility located on Windward Way was completed in mid 1993, and a new operations and maintenance headquarters for Bonneville Power Administration, located on Highway 2 East of Kalispell, opened in late 1993. Cost -Co opened a 72,000 square foot store in December 1993, ShopKo opened a 115,000 square foot store in November 1994 and Wal-Mart will be opening a 130,000 square foot store this month. A major project now under way near Kalispell Regional Hospital is the new Second Wind Fitness Center, a project with a cost of over $7,000,000. Overall, the Flathead Valley economy appears to be fairly strong with continued prospects for modest population and economic growth. NW Corner Airport Rd. & 18th - "Timmreck Lot" June 21, 1995 9 The subject is within a small off -highway commercial district in an extended south Kalispell neighborhood. The neighborhood is primarily a commercial area with some residential use It is bounded on the west by Ashley Creek, generally following U. S. Highway 93 and Airport Road south for about 2 miles to the Willow Glen/Cemetery Road intersection. U.S. Highway 93 is the principal arterial around which the neighborhood is centered. There is a limited amount of east/west access. Only Cemetery Road on the south and 18th Street on the north connect Highway 93 to Airport Road. The neighborhood is strongly influenced by the Outlaw Inn, the area's largest hotel/convention center, and by the Kalispell City Airport which lies between the Highway and Airport Road. Highway 93 abounds with motels, restaurants and service stations. Many offices, including those of the Flathead National Forest headquarters, are in the area, as well as public facilities such as ballfields and the Kalispell Visitor's Center. The neighborhood is the southern entranceway to the city, which considers the tourist industry to be a major economic draw. The small off -highway commercial district, within which the subject is located, does not have the Highway visibility essential to support the typically tourist -oriented commercial uses of the Highway frontage commercial area. Traffic along the 3-lane, asphalt, Highway 93 is typically quite heavy. It carries one of the highest traffic counts in the city. Alternative southern access into Kalispell is at present limited to Willow Glen, a narrow 2-lane road located east of the neighborhood. For years attempts have been made to determine a bypass route for truck and other through traffic around the city. The natural boundaries of the Flathead River on the east and the mountains on the west have limited the possible routes. In 1993 City/County planners and administrators approved a bypass route to the west of the neighborhood, essentially following an old railroad bed to Highway 2 West and beyond, connecting back to Highway 93 at West Reserve Drive, about 1/2 mile north of the City Limits. This bypass is in the planning stages with no firm completion date. It is expected to cross to the west of Ashley Creek at a point south of Cemetery Road and not enter any part of the above described South Kalispell neighborhood. Size: The property is a 1.478 acre, rectangular, vacant parcel of land with 324.76' of frontage on Airport Road and 197.58' of frontage on 18th Street West. (See survey copy Exhibit 2). Topography: The site is generally level at road grade with some low spots on the 18th street side. Access and Visibility: General neighborhood access is excellent. Airport Road is a moderately well traveled north/south thoroughfare connecting the southern part of Kalispell with a growing residential area southwest of Kalispell. Traffic southbound on Highway 93 can bear right onto Airport Road about 1,000' north of the subject. Although Airport Road is a through street, about 2 miles south of town it begins winding through the foothills and eventually becomes Foys Canyon Road which doubles back to the west side of Kalispell. Corner Airport Rd. & 18th - "Tinan r Lot" June 21, 1995 10 ROGERa JACOBSON, Eighteenth is a short street ending one block west of the subject, but it is the only east/west street with a traffic light at Highway 93, about 1,000 feet east of the subject. The traffic light assists access to the subject from Highway 93 for northbound (and southbound) traffic. Visibility, however, from Highway 93 is limited. Commercial property buyers/users who depend on Highway 93 visibility could not use the subject property despite its 18th Street or Airport Road access. The approximately 1,000 feet is too far in this congested area. Airport Proximity: The subject site is about 700 to 800 feet north of the end of the runway of Kalispell City Airport (Exhibit 4). The airport does not serve jets or large aircraft. The take -offs and landings of small aircraft are relatively infrequent. Residential and commercial properties have continued to trade in the area with little to no detrimental effect from aircraft noise or hazards. Utilities: The site has all City services including City water and sewer, electricity, telephone, cable TV and natural gas. Flood Hazard: The site is within an area of 500-year flood and 100-year flood with average depths of less than 1 foot identified as Zone X on the Flood Insurance Rate Map for the City of Kalispell, Panel # 300025 0005 C. It is not considered a Flood Hazard area (Exhibit 2). Hazardous Substances: There was no surface evidence of hazardous substances noted during inspection. It is unknown if any buried storage tanks exist. It is also unknown if any ground contamination exists. There has been no historical research of past land use. No tests have been conducted to identify the existence or non-existence of contamination. The appraisers assume that the site is un-contaminated at the time of the appraisal. It is a major assumption of this appraisal that no ground contamination exists. ��. The site is zoned B-2, General Business, by the City of Kalispell. The intent of the zone is "a business district to provide areas for those retail sales and service functions and businesses whose operations are typically characterized by outdoor display, storage and/or sale of merchandise, by major repair of motor vehicles, and by outdoor commercial amusement and recreational activities. This district would also serve the general needs of the tourist and traveler". Among the permitted uses are automobile sales and service; hotels, motels and restaurants; office buildings; retail businesses and super markets. Maximum building height is 35' . Setbacks are 20' front, rear and side corner (Exhibit 3). NW Corner Airport Rd. & 18th - "Ti mreek Lot" June 21, 1995 11 ROGER D. JACOBSON. The subject property has an Assessor Code of 75-0872450 assigned by Flathead County. 1994 TAXES Assessed Value Rate Taxable Value Land $34,788 3.86% $ 1,342.81 Total Taxable Value $ 1,342.81 Kalispell Millage (.426582) Taxable Value X .493568 = Tax $ 662.77 Other Fees: Kalispell Storm Sewer $ 66.97 Kalispell Special Maintenance Dist. 194.95 Total 1994 Taxes $ 92.69 If I ,, I 1 . Originally 4 parcels, the subject property configuration resulted from a boundary line adjustment with the neighboring property owner, the City of Kalispell, recorded September 28, 1993 (#9327110150). County records indicate that two of the original parcels have been in the Timmreck family since a 1944 acquisition by Bertha Timmreck. The parcels were transferred to Carmin C. Timmreck in January 1948. Later the other two parcels were acquired by Carmin Timmreck in July 1972. The 1993 boundary line adjustment consolidated all 4 parcels. Carmin Timmreck then quitclaimed the property to Lois J. Timmreck March 8, 1995. NW Corner Airport Rd. & 18th - "Tirnmree Lot" June 21, 1995 12 "ZrZe ANea- I �` a; Highest and Best Use: Highest and best use is defined as: "The reasonably probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially feasible, and that results in the highest value. The four criteria the highest and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum profitability. i9 Implied in this definition is that the determination of highest and best use takes into account the contribution of a specific use to the community and community development goals as well as the benefits of that use to individual property owners. Hence, in certain situations the highest and best use of land may be for parks, greenbelts, preservation, conservation, wildlife habitats, and like. The four basic tests of highest and best use of a property are: 1. Legally Permissible 2. Physically Possible 3. Financially Feasible 4. Maximally Productive Although the four criteria interact and therefore may be considered in concert, for practical purposes legal permissibility and physical possibility are typically tested first to set initial limiting parameters on the highest and best use. The last two criteria concern the possibilities for net positive return and highest possible return. A four part analysis for dealing with these two tests has recently been suggested and will be used in this appraisal:` 1. Land use patterns and recent developments in the area. 2. Supply and demand status considering sales, properties for sale, and occupancies. 3. Use change after the sale of comparable properties. 4. Site value less demolition cost compared to the value as improved. 9 "The Appraisal of Real Estate - Tenth Edition", Appraisal Institute, 1992, page 149. 10 Joe R. Roberts, MAI and Eric Roberts, MAI "A No -Nonsense Approach to Highest and Best Use", page 269, "The Appraisal Journal", April 1993, published by Appraisal Institute. ............................................... NW Corner Airport Rd. & 18th - "Tinimreck Lot" June 21, 1995 13 Legal Permissibility_of Use The site is zoned B-2, General Business, offering a wide variety of potential commercial uses. Permitted uses include automobile, boat and trailer sales and service; hotels, motels and restaurants; service stations, convenience stores, office buildings and retail stores. A number of light industrial uses that could use this site such as warehousing and truck distribution facilities are not permitted. Residential use is also not permitted. The B-2, General Business zone is oriented to high traffic, high visibility locations with external features that the subject property lacks. An adjacent zone is RA-1, Multi -Family Residential. It is possible, but unknown if a zoning change to RA-1 would be allowed. Physical Possibility of Use The site is level, approximately at street grade and of a size and depth to accommodate almost all of the legal uses. Land Use Patterns and Recent Developments There are 5 recognized commercial areas in the Kalispell market -- Highway 2 East and West, Highway 93 north and south, and the core area. North: Commercial land uses on the Highway 93 North corridor of Kalispell have become more restricted in recent years and new land use areas have been limited to residential, medical, and public uses. The county portion of the Highway 93 corridor to Whitefish has also recently been zoned restricting commercial development. These actions by the City and County have reduced by one fourth the potential for commercial use along the arterial entranceways into Kalispell. West: From 1970 to 1986 the U. S. Highway 2 West entrance to Kalispell was a center of commercial activity and growth. Prior to 1970 there had been limited commercial use in the area, but with the opening of the Gateway West Mall and McDonalds Restaurant on Highway 2, west of Meridian, commercial activity accelerated sharply. For over a decade commercial activity in the area boomed with many fast food restaurants, new retail buildings, distribution centers and several new office buildings being constructed. In the summer of 1986 the Kalispell Center Mall opened near downtown Kalispell, effectively moving the center of commercial activity back to the core area. The Gateway West Mall found it difficult to attract renters and few if any commercial parcels were sold in the area after 1986. Recently some commercial interest has returned to the area with announced plans for a Village Inn restaurant and a Hampton Inn motel, however, Drug Fair, the principal anchor tenant of Gateway West Mall recently closed its doors and no replacement has been firmly announced. Downtown Core Area: With construction of the Kalispell Center Mall, the Hardees, Burger King, Rax and Pizza Hut restaurants and the new Tidyman's supermarket, the center of commercial activity has been retained near downtown Kalispell since 1986. New 1994 construction included a 10,000+ retail store next to Tidyman's. Construction in 1995 will include two new bank buildings. The downtown area of Kalispell has remained relatively healthy since the Kalispell NW Corner [airport Rd. & 18th - "Timmreck Lot" June 21, 1995 14 Center Mall construction, however a change in use from retail to offices has been noted. The downtown Woolworth's closed its doors when al -Mart announced construction. The building was quickly sold and converted to offices. South: The subject Highway 93 South commercial area has been relatively stagnant since 1984. The last major construction in the area was the Super 8 Motel in 1983 and the State S.R.S. offices in 1984. Because the south is generally the first entranceway for tourists coming into the valley, primary commercial activity has been motels and restaurants. Retail activity is limited to a grocery store, a small lumber and hardware store, and boat and travel trailer sales lots. Recent activity, however, could change this picture. Construction of a 24,000 square foot Farm/Home retail store has been announced for a site just south of the State S.R.S. offices, and a new truck stop is planned for the northeast corner of Highway 93 and Willow Glen. East: Recently several large retailers have either opened or announced openings on Highway 2 East. Costco, Ernst and Shopko have recently opened, and Wal-Mart (129,000 sq. ft.) will be opening this month on Highway 2 at the eastern City limits. The east is now the hottest retail commercial area of Kalispell, and there are concerns that these openings will permanently move the center of commercial activity east of the core area of Kalispell and even further away from the commercial areas west and south. Supply and Demand: The supply of larger commercial parcels near the Kalispell population center has become restricted because of the recent Tidyman's, Shopko and Wal-Mart developments, and zoning restrictions along the entire Highway 93 corridor between Kalispell and Whitefish. At present the largest on -highway commercial parcel advertised as available for sale within the south commercial area is a 1.75 acre site north of the Outlaw Inn. The 1986 development of the Kalispell Center Mall created a temporary over supply of retail space in the overall Kalispell market. It also created a relocation of commercial activity back to the core area. Up to approximately 1991, Supply and Demand for commercial space in the downtown neighborhood remained somewhat in balance. In the past three years, however, an increasing demand for commercial space has driven up land prices and rents. An increase in demand for office space has been noted since 1991. Since then a number of new office buildings have been constructed on off highway locations such as the subject. The larger new Meridian Office building on Meridian at Wyoming, several medical office buildings, the new Tenth and Main building, and a new office building located just north of the subject property. Use Change After Sale (Comparable Properties) Comparable commercial land sales have remained as commercial use or have been held for commercial development. NW Corner Airport Rd. & 18th - " Timmreek Lot" June 21, 1995 15 ROGERD. JACOBSON. Site Value vs. Value as Improved It is to be recognized that in cases where a site has existing improvements on it, the highest and best use may be determined to be different from the existing use. The existing use will continue, however, unless and until land value in its highest and best use exceeds the total value of the property in its existing use. The subject property is vacant, therefore this test is not meaningful to the appraisal. Conclusion of Highest and Best Use Most of the legal uses of the B-2 zone require higher visibility and traffic than the subject location. A notable exception, and a use that is increasing in demand, is offices. Values have been increasing for off -highway commercial property for the construction of office buildings. The conclusion of highest and best use (disregarding the RPZ aspects of location) is for commercial office use. Sales Comparison Approach to Value: The sales comparison, or market approach is defined as "A set of procedures in which a value indication is derived by comparing the property being appraised to similar properties that have been sold recently, applying appropriate units of comparison, and making adjustments to the sale prices of the comparables based on the elements of comparison. The sales comparison approach may be used to value improved properties, vacant land, or land being considered as though vacant; it is the most common and preferred method of land valuation when comparable sales data are available."" The crucial aspect of the market approach is the availability of truly comparable properties which have sold recently. The subject is a 1.478 acre, level, corner site with frontage on Airport Road and 18th Street, on an off -highway location about 1,000 feet from Highway 93. The site is unusual in location, size and potential use. Four vacant land sales were found in the neighborhood with reasonable proximity to the subject: VACANT LAND SAL - SOUTH COMN[ERCIAL AREA Sale # Description Date Price Size (ac) Price per Square Foot 1 Macino to Owens 10/94 $100,000 1.59 $1.44 2 1507 1st Ave W. 3/94 $32,500 .29 $2.76 3 Burton to Makloski 4/93 $65,000 1.29 $1.16 4 1600 1st Ave W. 4/92 $31,500 1.01 $ .72 li "The Dictionary of Real Estate Appraisal - Third Edition", 1993, The Appraisal Institute, page 318. NW Corner Airport Rd. & 18th - " Timnareck Lot" June 21, 1995 16 Sale 1 is a triangular site on the southeastern corner of the Twin Acres Drive intersection about 3/4 of a mile southeast of the subject. It sold in October 1994 for $100,000. The site had previously sold in May 1994 (Lee to Macino Stone Works) for $90,000, or a 2% per month compounded price increase. The property is now listed for sale at $150,000, or $2.17 per square foot, or substantially over a 2 % rate since last October. The site was low, but has been filled to highway grade. It has over 400 feet of frontage on Highway 93. The site is slightly larger than the subject, but a similar sized site in today's commercial market. It is estimated that the superiority of Highway 93 frontage is offset by the inferior proximity to Kalispell. As a retail business site it is superior because of the Highway frontage, but as an office site it is inferior because it is 1/2 mile further from town. Sale #1 is a recent sale that with adjustments offers a reasonable value indication for the subject on a per - square -foot basis. Sale 2 is a rectangular, level, but much smaller site located just north of the subject on lst Avenue West. It is a combination of 2 - 48' X 121.5' lots that sold about a year ago for $32,500 for both lots. The buyer (Harball) constructed a 2 story office building on the north lot and a concrete parking area on the south lot. Smaller sites such as this often indicate a "Site Value" that influences the value -per -square -foot indication. Although, overall, the site is inferior to the subject, the $2.57 per square foot indication is considered superior. Sale 3 is a 1.29 acre commercial site located just north of, but on the other side of the Highway from Sale 1. This rectangular, level site has 100' of frontage on Highway 93. It sold in April 1993 for $65,000, or $1.16 per square foot. Comparing this site to Sale 1, there are many similarities in size and location. Adjustments to the two sites tend to offset each other. The smaller frontage is offset by the slightly closer proximity and level, road grade topography. The difference in the per -square -foot indication is considered primarily because of the increasing market from 4/93 to 10/94. A time adjusted indication for the 19 months at 1.5 % compounded per month, calculates to $1.54 per square foot in October 1994. For the same reasons as with Sale 1, the site is considered similar to the subject with offsets from the positive influences of Highway frontage and the negatives of inferior proximity relative to the subject. Sale 4 is a 1.01 acre multi -family site located immediately across 1st Avenue West from the subject. This parcel sold in April 1992 for $31,500. Because of its multi -family zoning, its location even further from Highway 93 than the subject, and the age of the sale, it is considered substantially inferior to the subject. It was included in the analysis because of its size and proximity to the subject. It should be noted that multi -family use in a large site has a much lower value indication in today's market. Analysis: None of the sales are truly comparable to the subject. It is estimated that they provide upper and lower brackets for the subject and two examples of similar value. Sale 1 and Sale 3 time - trended indicate a value of between $1.44 and $1.54 per square foot. These two sales, however, have Highway 93 frontage. There is no conclusive proof in the market that the positive aspect of the Highway frontage fully offsets the negative aspect of a more distant proximity to Kalispell than the subject. Corner Airport d. & 18th - "T' r Lot" ::::»:> :; June 21, 1995 17 l:: ;ff i; i ,90 Two sales in another location in Kalispell can provide additional support. These two sales are vacant parcels located on North Meridian Road, an off -Highway location with zoning and access to support professional office use. NOR VACANT LAND SALES Sale # Description Date Price Size (ac) Price per Square Foot 5 Meridian Office Building Site 3/93 $240,000 3.25 $1.70 6 Paisley to Biggs 7/92 $821500 .55 $3.47 Sale 5 is a relatively recent large office building site similar to, but larger than the subject, and in a different location. The Meridian Office Building Site is about twice the size of the subject, which would typically mean a somewhat lower per -square -foot indication. (Note that the difference would not be as dramatic as was observed with Sale 2 which was affected by "site value".) Sale 5 is also an interior lot, and it took place more than two years ago, both of which would imply a lower value per square foot than the subject. The superiority of the site is location. Sale 5 is located in an active office building area with the new post office, new fish & game building, Mac's Place/Crop Hail building, the converted Ashley Square building, and the medical office activity north of this neighborhood. The superior location more than offsets the other inferiorities. Adjusting for time of sale (approximately 1 % per month in this area compounded through last fall) would indicate a $45,000 increase in the value of the site, or $2.01 per square foot ($285,000 _ 141,570 sf = $2.01/sf). The difference between this indication and the subject is primarily location. A way to quantify the locational difference is through a comparison of Sale 6 with Sale 2, both of which are small office building sites, one on North Meridian Road and the other just north of the subject. Sale 6 is made up of 3 City lots rather than 2 City lots as with Sale 2. Analysis: Sale 6 indicates $3.47 per square foot rather than $2.57 per square foot for Sale 2. Sale 6 took place 20 months prior to Sale 2 during a period of increasing land prices in Kalispell. Adjusting the sale to a March 1994 value (the sale date of Sale 2) would indicate a $100,000 value for Sale 6, or $4.20 per square foot. The primary remaining difference between the two sites is location. A direct comparison indicates that the Sale 2 location is 61 % of the value of the Sale 6 location ($2.57 _ $4.20 = 61 %). Sale 6 is in a slightly superior location than the Meridian Office Building. Sale 2 is in a slightly inferior location than the subject. It is estimated therefore that the locational differential between the Meridian Office Building and the subject at the corner of Airport Road and 18th is 30% less, or 70% of Sale 5. Adjusting the $2.01 indication from Sale 5 downward indicates $1.41 per square foot ($2.01 X .70 = $1.41) for the subject without a size adjustment. A slight upward size adjustment (because Sale 5 is larger) would indicate approximately $1.50 per square foot, similar to the indications from Sales 1 and 3. NW Corner Airport Rd. & 18th - "Tinunreck Lot" June 21, 1995 18 i2OGF _ _TACO SON. MA Subdivision Considerations: The subject property prior to the boundary adjustment was 4 lots. Assuming this 4-lot configuration could be retained by a simple subdivision, the subject could be split into 4 - .37 acre office building/commercial sites (1.478 _ 4 = .37). The indication from the Harball sale (Sale 2) is that this size site could sell quickly. The Harball sale took only 24 days on the market and sold for the $32,500 asking price. Estimating that 4 similar sites on Airport Road could sell with similar speed for $35,000, the total value of the subject as a subdivision with 4 separate buyers would be $140,000. The sale to a single buyer would require sufficient discount incentive from that "retail" value to fund the project. It is estimated that a typical buyer of the property would need only a portion of the site and would be encouraged to subdivide the rest, fund the cost of survey and fees, and sell out in two years. Estimating the cost of survey and fees at $5,000, and discounting the balance of $135,000 over 2 years at 15% is a $100,200 present value. Fifteen percent in two years is considering minimal risk. The subject location is not a proven office building area despite the recent Harball construction. If sell -out should take 3 years, the present value of $135,000 realized in 3 years is $86,300. The range between these two value indications is $1.34 to $1.56 per square foot ($100,200 _ 64,382 = $1.56; $86,300 _ 64,382 = $1.34). Reconciliation: Ideally, in the estimate of value of a land parcel, a number of truly comparable sales will be found to solidly establish an estimate of value. Unfortunately no truly comparable sales were found requiring three separate relational analyses. Each of the three sales comparison methods used above have strong and weak points that must be considered when reaching a final conclusion of value. Recap of Value Indications Neighborhood Sales Comparison $1.44 to $1.55 per square foot North Meridian Area Comparison $1.50 per square foot Subdivision $1.34 to $1.56 per square foot The weakness in the Neighborhood Sales Comparison was in the estimation that the positive influences of Highway frontage of Sales 1 and 3 is offset by the closer proximity to Kalispell offered by the subject site. The superiority of this comparison is that comparable neighborhood sales are used. The comparative relationship to the North Meridian Area required many adjustments for location and time of sale. The positive aspects of this comparison is that the sales were office building sites in an off -highway location. The weakness in the Subdivision analysis is primarily in the discount estimate. However, the range indicateded is probably representative of the discount required for a typical buyer to utilize a portion of the site and sell-off the other subdivided lots. NW Cosier Airport Rd. & 18th - "Timmreek Lot" June 21, 1995 19 G T-)_ TACORSON. MA Taken as a combination these sales comparison methods support each other and indicate a range between $1.34 and $1.56 per square foot, or between $86,300 and $100,200 for the property. Three factors lead the appraisers toward the upper end of the range, or $100,000: 1. The property has been listed for sale at $125,000. It has been reported by the listing broker that there have been interested parties who have been cooled when hearing of the City's planned imposition of a Runway Protection Zone for the immediate area. The appraisal is to disregard this action, as defined by "Fair Market Value". 2. The south commercial area is receiving increased activity and interest. For example the Macino to Owens property (Sale #1) sold in May 1994 for $90,000 after having been listed on the market for years. It sold again in October 1994 for $100,000, and is now listed for sale at $150,000. 3. The general economic picture for the Kalispell area and the nation is positive. Commercial land buyers apparently have a positive outlook for the immediate future. Evidence of this is the recent sale of a small improved parcel at the comer of Airport Road and Highway 93 - 1,000 feet north of the subject. Land and building sold for $200,000. The 3,600 sq. ft. building was subsequently remodeled into offices. Extracting the value of the building shell indicates a $90,000 value for the small quarter -acre site. It is therefore estimated that the fair market value of the subject property on June 21, 1995 was $100,000. ESTIMATED FAIER MARKET VALUE $100,000 NW Comer Airport Rd. & 18th - "Timmreck Lot" June 21, 1995 20 itI I f J i' 1 1 1 We certify that, to the best of our knowledge and belief... - the statements of fact contained in this report are true and correct. - the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are our personal unbiased, professional analyses, opinions, and conclusions. - we have no present or prospective interest in the property that is the subject of this report, and we have no personal interest or bias with respect to the parties involved. - our compensation is not contingent upon the reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event. - our analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. - we have made a personal inspection of the property that is the subject of this report. - other than the undersigned, no one provided significant professional assistance in the preparation of this report. - the reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Appraisal Practice of the Appraisal Institute. - the use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. - as of the date of this report, I, Roger D. Jacobson, MAI have completed the requirements under the continuing education program of the Appraisal Institute. - we do not authorize the out -of -context quoting from or partial reprinting of this appraisal report. Further, neither all nor any part of this appraisal report shall be disseminated to the general public by the use of media for public communication without the prior written consent of one of the appraisers signing this appraisal report. XXI ............................................... NW Corner Airport Rd. & 18th - "Tinunreck Lot" June 21, 1995 21 rld"U TAPn'nQnXT NAAT Based upon the information contained in this report and upon our general experience as appraisers, it is our opinion that the value as defined herein, of this property, as of the date of valuation, June 21, 1995 was: ($100,000) ?ohn D. Atkinson State Certification Information: Roger D. Jacobson - State of Montana, Certificate #50 Dated December 9, 1991 Certified General Real Estate Appraiser John D. Atkinson - State of Montana, Certificate #358 Dated November 29, 1994 Certified General Real Estate Appraiser NW Corner Airport Rd. & 18th - "Tinunreck Lot" .. ....... June 21, 1995 22 .®v 1-0 s�M® �.r11- y� Market Data Map 2 for I '�� . i 11WIN . U (( - ^ Y Summit �ti\ Indiau'Ir:til ° \ wtc t't 7 " " s J Summit Cir Rd o do = )) E ir ' a rr; if It ter St Ililho r q)t• tf % �(� 9 It/rd �d �G i n 2 a RidKelie, f- - p Dr i W h y .tr Wes,o ill Fos Sali. A,hle, Herila a Columba )� _ �: Lane Ifill = �: rrn,+w liva) I•n r.nHmwc = r,rs O� Drite r Ilt•d _ r Y s it Ln am s > ✓ / > Kate Sun SII t Limp of Sunset Sa © Ct = f Itl'.GI(INAI.I1051'ITAI t 3 It rn, a. _ / r \1a Lane 3 J Clare.fill Dr y�e J y l d_ Sa •er Rlitep moot tit .t•l. y \\ s Lm,r fall, Drhe I ndcrhill Cl L . Mount Liherl% Il' 1t', St )4 F.Arim a Ainle Urive = 51 ( It"d,loradn, t �fP ra 'i Z " Q 2 •eCl tit re/). 'On L F. C� G Or Kod e 1. m hrrt C'I Cale C,T yAumint, er B l ev. d nl e 1'ellm,clnne S .'u rst C 5 d' d a i esa C:AI� nr d � t <:lucir ti ti' Sl - ac Carral 'o o Ot tit t�re,on 2 Q Memorial o . t: )rc o E In tun 2 / �i cenea/ 500 ,` z r . ydtifitn on B Iaa�OS v } CHncaa UI S �� _ , p i Huskv' W S O t F' opt n• St ,(/ ° s St a. w as F. WMI) .AND t Shadv Clen Or _ v ,nY rn"na 7r .enn,Mm l nand Yc:� Y lMe St .Newt e •'u , r (col c use ^ I s u L q St tit F sWrCentCC 1st '+n 5t t•, PriA ` * .- W e u 2 r tit Qt F, clot ! : A IrH'ac Dr a x tst • �r ur = fl Sl VI a) F, ti,i� s E �•^ :J 5 3 � � 1r tit W s" � atfi Slt i,r a KALISPELL s Lake Road o Y� IINNI t'rllc� i Learn View Lane nr , Ashle,Dr Concord Lane lot Gl E i / — " Treasure Ln lltfi t, / t t • �Y �,�r` l nth tit tit F• tit E rtt• ^,s �r„ l th tat Lehl°!l� C:reenri!Ke Urit'e / p ('rernraler x Lit it S II:rTcnd.le �' tbun fl /, $ Coors Lrne a = � a C $ so / /i South %%oodland •'' Wile I /1 Haren Dr "i�G Z. Stag Lot <<` R1 Con or , 't y Drive 77, A F.F.A. Dritc �ssin Acres sWsn 3 . Sage Sale 1 i Dwasville Ccmdary )rt• Road 1 Lomer Valle C'emctart Road D"C' U T) n T A f'' 11 D C`"XT A ii A T Selling price - $100,000 _ 1.59 acres = $62,893 per acre. $100,000 - 69,218 square feet = $1.44 per sq. ft. $100,000 : 418.01 front feet = $239 per FF. ROGER D. JACOBSON, MAI Corporation Deed Order No. CG-20356 (with Warranty Llause) U,44UU I I � I FOR VALUE RECEIVED, MACINO STONE 14ORKS , INC. a corporation duly organized and existing under the laws of the State of hAn_L-a—nct, grantor, does hereby Grant, Bargain, Sell and Convey unto GAYLON F. 01IENS ( the following described real estate, to -wit: grantee A tract of land in the West Half of the Southeast. Quarter (WiSF.:I Section 20, 'Township 28 Itorth, Mange 21 West, ft.l`.ft. , Flathead Q County, Montana, pat•Licularly described as follows: Beglnning it the Northeast corner of t:he SW;SI;; of said Section a 20; thence North 0°09'591' East a distance of 7.0n feet to a point; thence North 89*17126" West, it distance of 111.96 feet to it point nn the Easterly boundary of II.S' Iligllway 1911; thence South 72-13105" East: along said highway boundary a dititanr•r• of 41H.u1 Geer to it point: of interst".1 tun of thn said h:,ttlr`t l} highway hountlary with the tlortiu't ly hotutdary of thal e:r'l '1I11 tract of land doncrr•ihed in a dead Lo Charles, E. I'rit:n, (.1 nx, 1 eCol"ded Mi l y 11), 1955 Ilndnl' ilr,!t,:nl dDY' n I'ne Nrt, '1 "10 1 , I ncord:t of Flathead CoullLy, Molliana, raid point. helliq the Rloht. tlestnt ly corner- of sa id t' . ("e Li'm:t; t.11ence South 89"17'26" Fast, along -.aid Ilort-herly hounrlary of :.aid III i,•n tract it distance of fl4.on feet to its ioler-.e.,:tioo with th,• Easterly boundary (it said utJ;S1:';; tatenc:e North f1°(19'5911 Fast along the Easterly boundary of said :;hJ';5:1?;, it distance of 149.51i feel: to the 11o1 nt of Neclinning. DOCUMEn'T IS ILLEGIBLE AND NOT LEGMY RPRODUCIFLE. TO HAVE AND TO HOLD The said premises,with their appurtenances unto the said Grantee, and t0 hi s heirs and assigns forever. And the said Grantor does hereby covenant with the Grantee that it will warrant and defend the same from all lawful claims whatsoever. IT WITNESS WHEREOF, The Grantor, pursuant to a resolution of its Board of Directors has caused its corporate name to be hereunto subscribed by its President this I,10' day of October, 1994 By 51AH Of MONIANA, County nl ,,.114 rt W4 1. on* Lbi hclor(rrq y�a•nMaty:��Mi- i aPP9%rCN, • (� � '•1'n,@s knnj. i, 10 rn lu it, 1'raS.(i, execu/ed yhisu ri.�,li•'nt•vl'; insir rill -,up behalf of *air! to mP I I Suefi•rMpllja(1(in"e�e affised f1hi_p1lici;d'L(._, i�•Sht' day abovewriucn.' ,. _�ii of OrioLv 1'It'% and (or said State. personally S I*) o011111 of the corporation that persons who c•sccmed the )oration, and acknowledged d the same. hereurno set my hand and I year in this certificate first Residing at N taffy Public for the State of Montana. My commission ecpires 6�f'4'S"• PR IDINt 111,11 OI '0014TANA. ) s I hert•tn r(,,I,f% that Ili, inctru win was filyd I)r ry,•r of at 31 mmutcs p,nt ///I��� /:Do ,,,,��ImkIn., It,,, 2(oda, of in n,e (M e, and duh r, l(>� *eF�jc'r•[it�i n (Cu , is CI at ar d Recorder y' i '_ C( —'- -- - Deputy Fees S ` t Mail N-r 11 0CMAA 117 117 115 108 -ZAAA A - ZAAA TOK SITE 2AAJA 2AAJ 2AAA� 114 M I LLER'S 1 09 E A'G L E 113 110 A A to zAAK 70E .9 70A 70AA ?OF 4 Its 119 120 2AA ONE 700t; 5 121 < If I KELL E71' t 0 y 2 A ...... ROAD 25 124 123 /122 Al HA 1 133 70GC 1 34 .... 13 aq 174 0 06 ZAAES I14 0 165 164 1"1 - N 709 70C 700 70J 2 5 o 176 173 2 ?OH 166 163 0 137 177 1" 0 167 162 cn ZAAS 3 13 '178j17I .61111 Cl 61 139 to 6 4 17 170 140 1 ME 0 6 169 41"" IV 7M OOLAND !42 143 ?E 0, — 7 a 9 158/ 57 156 155 54:/* 7EDA 2 70 GA 70H+ 151 AM ZAC 7 15 148A r- 2 K 71A 7AS 5CBA 7AF 5CO13 7L 7A 5ci 7AAD I ? It 71 2c 7CD 7H 'o- 2 C, 7F8 7 F A BLK PLAT 7 C G AMD. 2 4 L. I B. I ------ 7ca B�,\ \ I \ ACRES lt�l DR T W 114 �A;D7A C. 7 C jL _%� j?'o BLK.' TWIN 3 5el3 59 5F 5CDJA \ TWIN +�A A - �11' __ .F 5CrMA 6D 5HA SCDOA FA SCON 5COC 5H 5CD 5 C D 6 5CDFA 5C[)L 5CES DnOl[710) " TAf_"nUQnXT 1%4AT Selling price - $32,500 - 12,624 square feet = $2.57 per sq. ft. ROGER D. JACOBSON, MAI 8Y 3 III 19 ® y 22 ° 3 u y ,� l� A m' 21 •y CA 'C SF10 P ADDITION v='• .2,OLe' t rn a sn Q) ° -� -� 181 1 171 01 6 161 ° 7 1 ° 1 15° °8 i I 1 19 i 1 I i3 110 1 124 i CITY 8J aw e 8U CITY 8P13 .8F 8 F C Me 174.1 a _! 8L " 'Las. OAA ,. f . Rl 8A ,- B ®Q $. u•` .. '"® - - '�,f.��2-r.. ..7'*iE 'j LAND SALE DATA Selling price - $65,000 _ 56,000 square feet = $1.16 per square foot. $65,000 - 100 front feet = $650 per FF. ROGER D. JACOBSON, MAI 93120 1(poo D N113-13262 NOTICE OF PURCHASER'S INTEREST KNOW ALL MEN BY THESE PRESENTS: That DONALD R. BURTON AND VICTORIA S. BURTON, of 3,13 HARRISON BLVD., KALISPELL, MT 59901, hereinafter referral to as "Seller" (whether one or more) has agre,A to sell, and KENNETH G. MAKLOSKI, of 1832 S. LEWIS, ANAHEIM. CA 92803, hereinafter referred to as "Purchaser" (whether one or more), has agreed to purchase under a Comuact for O=d that real property situated in Flathead County, Montana, particularly t!escribed as follows, to -wit: A tract of land located in the Northwest Quarter of the Southeast Quarter of Section 20, Township 28 North, Range 21 West, P.M.M., Flathead County, Montana, describe) as .r follows: ,1 Commencing at the center set.:: m comer, thence North 99*25*23" West. on and along the North boundary of said Northwest Quaner of the Southeast Quarter, a distance of 2.06 feet to a point which lies on the Westerly R/W of U.S. Highway No. 93; thence South 3T50'29" Fast, on and along said Westerly R/W boundary of U.S. Highway No. j ? 93, a distance of 950.16 feet to the Southeast corner of Parcel A of Certificate of Survey No. 8340, rccords of Flathead County, Montt.pa. and which point is the True Point of c Beginning; thence South 32'50'29" East, continuing on and along said Westerly R/W boundary of U.S. p' Highwa No. 93. a distance of 1W.00 feet to a point; thence Ewotl. 57 09 12" West, a di%umce of 150.00 feet to a point which !ics on the Easterly a boundary of a tract of land described in Bock 479, Page 256. records of Flathead County, Montana; thence North 32'50'29" West on and along said Easterly boundary of a tract of land described in Book 479, Page 256, a distance of 1W.00 feet to a point, which point is the Southwest caner of said Parcel A of Certificate of Survey No. 8340; thence North 57'09' 12" East, on and along the South boundary of said Parcel A of Certificate of Survey No. 3340. a distance of 560SXl feet to the Ttue Paint of Beginning. As shown )n ('-rtificate of Survey No. 8440, SUBJECT-10 Right of Way Easement granted to Northwestern Telephone Systems, Inc., recorded Septerrher 27. 1982. under Recorder's Fee No. 14265. in Book 7.50, Page 35, records of Flathead County, Montana, SUBJECT TO Agreement for Tasi-Way Maintenance, Water Easement arvJ Sewer F.iscmtent, executed by and between Robert L. Monk and Donald R. Burton, recorded August 6. 1985. under Recorder's Fee No. 852181(X)90, records of Flathead County, Montana. SUBJECT TO Easemv_nt for a 20-foot private road and utility easement anJ a 60-foot taxi- way, m+d and utility easement as shown on Certificate of Survey No. 8440, records of Fle.theao County, Montana. SUBJE(,'T TO the effect of re. trictiors contained in Certificate of Subdivision Plat Aooroval recorded with Certificate of Survey No. 8440. records of Flathead County, Montana. SUBJECT TO Reservation of Easement granted to Robert L. Monk, recorded May 23, 1986, under Recorder's Fee No. 8614314320. records of Flathead County, Montana. SUBJECT TO Resolution -Resignation of Limited Access Highway executed by the State of Montana. Department of Transpta•tation, recorded October 25. 1991, under Recorder's Fee No. 9129815550, records of Flathead County, Montana. Purchaser will provide a full and complete copy of said Contract for Deed, without cost. upon request of any person. IN >VrTNESS WHEREOF. this Notict is hereby executed this _JCS - day of _., 1993. ald R. Burta V it t0riill, 1, Bttrion Kenneth G. Maklvski ROGER D. JACOBSON, MAI tl 1.na ' BcnaA -- I . cv , za h � 1� \ _ ._. ._.._—... --_.1 .�" 1_-- _L=".1_.-. _I- -:I _ _ _ - 117 116 115 108 ---_--�— 12 AAA A 70N SITE WELL 2AAA 109 2AAJA 2AAJ 2AAA �__... ...... 114 MILLERIS I ; EA6LE O 115 110 \2 JAAK 70A 70AA ?OF 70E W 4 18 119 120 -92aA ONE I 7QOE <5( E 121 \112 K E L L KELLY" _ I �z 6 122 13213115 \l - ROAD -� N o -_9 25 124 123 133; _1 AAHA /8(2 134," 70 GC 135 ,2AAE8 r 1 14 13 m 1751174 0 165 164 y 136 --- 709 70C 700 --+ - 70J 2 !g 0 1 ? 6 173 zv 166 163 137 1 70H e IT? 172 0 167 162 R+ 2AA8 3 IB I( i l a ... _.. 138� 178 f 171 168�161 a 139 1 f 0 _ K) 17 170 a c 140 f \ W 000L AN Coll ® 9 JJ f� \ 7 E \ 1561/ S7 156 1 56 i 70 GA 70H+15�- AM 7E8 . ...........- - -- - - \ TAB 5CBA 5 C813 7A \ 5CJ 1 lA AL\ \ 1 �\ LC I 7CD 7H 7F8 7F 1 1 - \ A SLK� \AiAD. PLAT 7CG 4 7CBf - -- - — - — TWIN AD AC H L K. ` 7C '' TW I N a�o 58B g8 ... \ 5F 5CDJA 5CGMA 6D 5HA \ SCOH SCDDA \ FA •t--- ��\G 5 D Iv- 5J \ ZT L.._ d-'� TA0nDV%T 1%4AT LAND SALE DATA Sale No. 4 Locapag 1600 First Avenue West n�ty. Flathead ate ' :Montana SW Corner of 17th Street West south of the City shop area Date ®f;Sale Sale Pace Parcel �� Pia 4/27/92 $31,500 43,813 sf (1.01 acre) $ .72 per sq. ft. Ned:T*Warranty Deed ' Grantor Charles E. and Beverlee J. Remik Document. Nibi r; 9211813080 Granter Thomas L. and Nancy K. Thornton Legal np.... See attached. Venca4on R. Nadvomick, Broker for Grantor (MLS #11395) by J. D. Atkinson 6/95. 'Pf�ysical:Descnptio�s Level, rectangular, comer site with 125' of frontage on 1st Avenue West and 350.5' on 17th St. West. Treeless, grassy, at road grade. wng RAl, Multi -Family Uel►t�es All City Services Use Vacant multi -family site. No construction by June 1995. Terns Owner Finance Selling Price - $31,500 - 43,813 square feet = $ .72 per sq. ft. ROGER D. JACOBSON, MAI ' `4 ' /r I , ® y 22 3 f cd th a a r•i� SHO P ADDITION - far' �• y 1 1 8 w 1�t .. Ir91 a as ,•• • • �. � 1 w to f l •�i 1 'r 181 ai •�.. �1 Q 171 01 6 `•t 1 i 161 7 1 1 1 1 '. 15 1 , 8 .. 1 1 ' I i 1 ; 1 13 'to I 1 I ' 121 1 t ll _ _ 8Y� CITY o 81 1 I 8W 8 8U CITY 31 132. aeall1 8F 8PA 8 F 8 F C- 128-01 174.1 133.47 8L tq 0AA , f iM a too r . ® � '� ,m ram; DB-1117D TAd'-1QXT A4 A T LAND SALE DATA Sale No. Rectangular, level, slightly below road grade, 3.25 acre parcel with 239' of frontage on Meridian Road. The rear of the property has 239' of frontage on Glenwood Drive. Depth is 591.6' (north) and 593.3' (south). B-1, Neighborhood Business All city services. arse 1.80 acres of the 3.25 acre vacant site is being developed into a 29,970 sq. ft. two story office building (21,770 sf net rentable area). The balance of 1.45 acres at the rear of the site, with Glenwood Road frontage, is excess land at present. * $240,000 formal option agreement closed 3/12/93. Down payment consisted of a trade for Lot #22 of Stillwater View Estates valued by buyer and seller at $36,500. Balance of $203,500 to be paid in cash on or before March 10, 1995. Construction started with an 18" layer (5200 yds) of pit run gravel to bring site up to road grade in Spring of 1994. Foundation poured 7/94. No warranty deed filed as of 7/31/94.Estimated construction costs at $1.5 million ($1.4 million bid) for 29,970 sq. ft., or $50.05/sf. Option price - $240,000/141,570 sq. ft. = $1.70/sf $240,000/239 front feet = $1,004/FF ROGER D. JACOBSON, MAI D R I V E .`AU OLSON �l 5 A D 5AE 5 AS ADO. AMD. 2 O 2 3 ROSEWOOD 16 BKI� Y 26 1 2 3 4 15 IA y Qi 4 s 14 2 J 3 yj G ® > 22 21 /� 2 SAGA 4 S Q 2 20 7 13 ..- saM N 3 1 3 Y r_ g ffi OLENWO D IS S 5 A F 4 iq Q it J -, o. 12 13 1 1® 10 q at 5 A L G C 10 1] 11 10 a z z 8 3 52 5 oc 9 s q 3 2- i I OLSON i 7 q } 3 1a a s I ERTY �k.LA� o r z IST. ADD. G 2 R 91 ] a s 4 1s 1a 13 e 7 G I LIBERTY S T R E E r LIB E RTY 3 RE T 1 i' G TREASURE 71L,DORITA A D D. NO. IGS1 ATE ILLAGE 31K . B K. P4' PI AZ II 1 10 2 1 9 10BeWS a ADO.I11 VALLEY VIEW x ,� 1A. ADD. 147 APARTMENTS T.tIE_ 3® 11 LIBERTY $ ,pF I N EGLEN VILLAGE 14 8 7 12 o~i AMCH ESW-T N N g W a ,a - y°$ LT1171Js WEST 1 ® i t( HAWTHORN SING CT. ffi WE T i I MONTANA POWER ADD. 138 NEST .J 7 WEST W II > _. fl ..' I a R n m PACE 2 5C8 �L PLACE S UBILEF (C PORT A I 0 t~ q ® n 5 C E A VILLA No o � s Q 2 M 2 M A �� � z® 3 LA61RfRT - 5 C E QUA G r f a- 2' Li (.. 1 2 3 4 e s Qtw. SCR 1 i V; iL S 5 .. YELLOWSTONE ST. A LSA SUNBURIT C } rs 5 G 4 i s I aM0 PORTA VI LLA 7 41 9 ID it 1 �A Y 51C FA , _ 4 �A 5cC STUNS 2MC GLACIER I ADD 98 �T. 2• fl I G 5 4 3 2 1 I _ 6VA --ISO 5' 5 C C —�.— —. Two MILE DRIVE _,_ — — j z AMD. (PLAT G AT E WAY I G E AmJ. Plot of L.2 of E( AL. 3AA 2CA j 0! the o the Alnd. WEST ADD. . tiI „r GATETN�A ,6 Wly for. 34 ADD.3 IGA I WEST ADD, IL GATEWAY u 34 p WES d-i1' 1rA0 DQnXT Tk4 A T Sale No. 6 203 - 215 Parkway Drive, Kalispell < : Flathead state ' Montana Three Parcels have frontage on North Meridian llate of �a a,S+ze pxe e'er 7/10/92 $82,500 23,808 sq. ft. (.55 acre) $3.47 per sf (Rec. 3/1194) T` Pe Warranty Deed Grantor James E. Paisley and Linda Paisley D uaa t t umT r% L #9406012020 Grant - Steven R. Biggs 2. #9406012030 I�phon 1. Lots 19 and 20, Block 2 of Northridge Heights. 2. Lot 21. Block 2 of Northridge Heights. Venficahan L. Collins, Broker for Grantee (MLS #20171) and Public Records by J. D. Atkinson 6/95. rnysal De�cnplwn 'three adjacent City lots, each approximately 71' X 111.8' combining for 209.9' of frontage on North Meridian Road and 216' of frontage on Parkway Drive. The lots have rolling topography and are generally below Meridian Road grade and at Parkway Drive grade. &UM _ B-1, Neighborhood Business Utilities All City Services Use: Buyer plans to construct professional offices. Terms: Assumption, no details revealed. Other Property was listed on the market at $86,500 for 173 days. Selling Price $82,500 _ 23,808 sq. ft. = $3.47 per square foot. ROGER D. JACOBSON, MAI " � 288oc)-121 295-121 3�0-120 t\ 9rl 15 317-118 16 17 — I " a 2 0 13 78' io 7 6' 7 6' - ---; . -- .� 72-;- 72 72. 286-110-,, 2-t4-1 10 3 1- 9 308-109 31 � -_Jos 1`7 = I & -2. 16? .0 0 o 104 12 08 09-� 72. 72 7 5 4 1.4' N. agO 40' E. I — ---------- CQ 111,000 33PI23 9 3k- 1 16 20 10 3 01%3k 332-109 1032( in w 331-103 > le Ilu I 1 1. F1' . .. . .................... Blk. 0-095: 2.3n. - 329-088 24 It el 3 30f25 h. 328-07 328 - 067 ICP27 3 7M60 28 3 0 5 3 4 30. 3 0. 112' 0 S.890 40* W. C R E S T V I E W ROAD .70, 7 0 14. 31 Bk. 1 -038 327-037- 0 10 N N 3 1022 01 0 6 8.7' 70' 0 4 0 5. s06 1419° ID QUITCLAIM DEED For Value Received, Carman C. Timmreck, 1305 4th St. W.. Kalispell. MT po 59901 the Grantor, does hereby convey, release, remise and forever quit claim p unto Lots J. Timmreck, of 838 East Washington, #P. Kalispell. Montana. 59901 the Grantee, the following described real property, in Flathead County. State of Montana, to -wit: A tract of land in the SE 1/4 SE 1/4 of Section 18. Township 28 North, Range 21 West. P.M.M., Flathead County. Montana. described as follows: Commencing at the Southeast corner of said Section 18: thence S88°12'00" West along the south boundary of the SE 1/4 SE 1/4 of said Section 18 a distance of 30.01 feet to a point on the West right-of-way of Airport Road, thence N00°04'04" West along said West right-of-way 50.00 feet to the TRUE POINT OF BEGINNING of the tract of land herein described: thence Continuing N00°04'04" West along said West right-of-way 324.76 feet. to the Southeast corner of Lot 11, Block 1 of BAKER'S SOUTHSIDE ADDITION to Kalispell, records of Flathead County: thence S88°52'28" West along the South boundary of said Lot 1 i and its extension thereof 161.26 feet to the Southeast corner of Lot 12, Block 1 of said BAKER'S SOUTHSIDE ADDITION to Kalispell: thence S89°04'50" West along the South boundary of said Lot 12 and its extension thereof 36.26 feet: thence S00°04'04" East 327.22 feet: thence N88° 12'00" East 197.58 feet to the point of beginning containing 1.478 acre more or less, being subject to and together with all appurtenant easements of record. TO HAVE AND TO HOLD the said premises, with their appurtenances unto the said Grantee, her heirs and ass;crns forever. DATED this day of March, 1995. (L•IL iI`fil'i 1. � 7'Yf /tY �: Z`/� Carmin C. Timmreck STATE OF MONTANA ) ss. County of Flathead j On this ��day of March, 1995 before me, the undersigned, a Notary Public for the State aforesaid, personally appeared Carmin C. Timmreek, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same. IN WITNESS WHEREOF, I have hereunto set.my hand and affixed my Notarial Seal the day and year in this.cert#1cate/Iast above written. Nota blic fp`r the State of }� Residing at Kalispell, Montag My Commission expires e > � �cc,�t.E'�� '°7ramown—/y fomtt—�`- _ c�- 1 20' VACA TED4�—BAKER'S ALLEY or SHOP A001r'ON AWESTE SEWER LIFT SOUTHSIDE STATION —�c-t �/O O� ---S88'3338 F - (—J g, REBAR 8 26.19' (R)�_� / /3%24' (R) !J ;i' AL UM CAP 6.72' /"� _ 109.05' (R)'\ �� ADDITION 85.44' R �\ 23.61' (Ri O n _ N000032� "W Q o € p' w l 50.97' tR) l �" REBAR I ao mr I2, p(t" 1 n n 589''04'50"W - 36.26' 36.2', O 1,0d � -:0 ^ H - f /Z.67' (R) 1" REBAR D.C. 518/729 38815228"W - 161.26 (R)-----�- 2J.59' UTILITY20* EASEMENT PARCEL "B" ` REBAR 0.7/7 Ac. 11 �1" RvE 0p Po w , . o TRACT '•eW G.O.S. 9645 a `� N 2 PARCEL ..C.. o 1.478 Ac. y " REBAR-- ZEg J . 35.2'- n�i v N 288131 a w Gp TN88°!2'00"E p 47.58 (R) B�NDARY — z FORMER BOUNOARr n,O rRACT -8AA" { O/ u C.O.S. 9645 { �' �!o O rRACT 'T' a t* O f? O.B.. d 4 7.58 . 5381948 0 1 -- — 1 72.10' l1 97 .58' --P. O. B. n A N88°72'0U"E J5.0' PARCEL "F" 0.062 Ac. \ PARCEL "A $ a = SB e °S TRFET - l &@ C.O.S. ERR) O 3536 \ 0.642 Ac. +; ( B U V6.B.=V /1 17 a — S813 °12'00"W 333.13' (R) BASIS OF BEARINGS PER 30.01' (R) PURDY'S ADDITION FND. 2'. AL UMINUM CAP �OT 2 PER CORNER RECORD PURDY'S ADDITION [Flood Insurance Rate Map _ ZONE X 0*11[AI) CO(INTY AREA NOT INCLUDED rW/ xRM1 o ZONE X — Z QO fn �P lu lY rr p E ATV 1�� CORPORATE LIMITS ONE AE (EL 2925) NATIONAL FLOOD INSORANCE ►ROCRAN FIRM FLOOD INSURANCE RATE MAP CITY OF KALISPELL, MONTANA FLATHEAD COUNTY ONLY PANEL PRINTED COMMUNITY -PANEL NUMBER 300025 0005 C MAP REVISED: SEPTEMBER 30, 1992 Federal Ernerteney Manwrnent Atency PARK DRIVE LEGEND SPECIAL FLOOd 11AZARO AREAS INUNDATED BY 1011•YEAR FLOOD ZONE waa. n..e x..atMmamewa.e. ZONE AE wfl..e ele.etirMae..«M.e. ZONE AN Fsaee eeed4 M 1 l.1 rses 1er.agr reu.r retaeMa: aa« MN e1ee _ eetr«M.e. ;ONE AD FMM daethr of 1 t. M eet (wry doves 1.a.sea t MvrnY.e. .ea,es ./ JM.J fan neM• F. Yra, eeNthMs el«ettw«Mee. ZONE Aaa FJ w��'er nby eenwuaMn; n. aar eM.asl.m Mrrrn Mee. ZONE V C.e.J new +hh wM<xr au.e I.ay. a<sMnl: n• base n.M eM.ad.ne get.. ittMM. ZONE VIE C.erJ n.H �M ..M<xv hang —its; aer n..e —.— asw,.LE M.e. FLOODWAY AREAS IN ZONE Al OTHER FLOOD AREAS ZONE x Areas of 500-Ye1r flood; .'ae of 1q1-Year flood rilh average deolhs of Ins man I fool or with drainage less than I aowre mile: and uteas tas Protected by levees from 100• year flood. OTHER AREAS ZONE X Areas determined to be outside 5W year flood Plain. ZONE O Areas in which flood haaardl are und.term med mm Flood Boundary FloodnaY 8...dm Zone 0 Boundary Boundary D10ding Soma Flood Haaard Zones, and Boundary DNiding Areas of Different Coastal Base Flood Elevations Within Special Flood Isa-d Zunn. Bax Flood Ele tJon Line: Ell Yahonin Feet' Cron Section Line Base Flood Elevation In Feet Where Uniform Wihin Zone' RM7x Elevation Reference Mark erenced to the National Geodetic Verliul Datum of 1929 NOTES T)"CrD n TAC"Rcc"Nj T%4AT HSections | 27.14.010 Intent « 27.14.020 Permitted Uses || 27.14.030 Uses Which May Be Permitted By Conditional Use !! Permit 27.14.040 Property Development Standards 27.14~010: Intent. A business district to provide area- tor those retail sales and service functions and businesses wnose operatzons ar� tvpzcally characterzzeg by out000r display, srorage amz/or saie of mercnandise, by major repazr of motor vehicles. and ov outdoor commerczai amusement and recreationai activities. This ozstrzct would also serve zne general neeos of the tourist and traveler. This oisrrict depenos on tne proximztv to ma�r r osteers ano arterials. This district should be located in ousiness corridors or in zslanos. 27.14~020: Permitted Uses~ (i). Appliance distrioutors, whoiesaie/repair. `2). Athletic Club. (3). Automobile parking, commercial or public. (4). AmtomooIle sales. (5). Automoozle rental agency. (6). Automobile repair garages, excluding oody shops. (7) . Automobiie service station (see definition). (8) . Bakery/deli, whoiesaie and retail, less than square feeT manufacturing area. (9). Barber and beauty services. (1�>. Bar , tavern, cocktazi iounge, ciubs and assocza�eo commerc1 l enterprise. (11). Boar saies, new and used. (12). 6uiidzng materlaLs, srorage/sale including lumoer yaros. (1S). 8us passenger terminal buiioings, transit terminals. (14). Car wasn, automobile detailing shop. (15). Catering establishments. (16). Church/ worship /parish/sunday school buildin,3s. (17). Dairy bar/ice cream manufacturing, retail on premise. (18). Electrical sales and contracting companies. (19). Food processzng/retazl on premises -no killing or dressing of �iesn or fowl. (20). Food store/supermarket` etc. - no siaughtering of flesh/fowl . (21). Food stores, retail/unoer 3,000 square feei. Qiv gf kailspell Zoning Uralnance GO. Garcen supplies, retail sales. t2s) . Glazier. (24). Heating, ventilating, air conditioning th,,AC:)/sneet metai Er•up, saies/si vice. 05). Hotel, motel. GO. :janitor suppilesiservicesicontractino. JD. Launderette/dry cleaning, customer seif-service. (20. Laundries/dry cleaning plants. Q?) . Liquor store. (z;G) . Lockamitns or gunsmiths. UK. Lube station. (32). manufactured home sales lot. QW . Massage parlor. 04). . Motorcycle sa lesi repair . 05). Music education with related performance ano limiteo sales. (26) . Newspaper .office. 07). Nursery, landscape materials. (w). ufflce, professionaiigovernmentai. (oW . Parks. (40). Fawn shops (no outside storage/display). (41). Plumbing/heating materials, retail/service onto. (40 . Plumbing snop and yard. (43). Post office - main aistribution center. t44). Post office - satellite or neighborhood. (45). Prepared food delivery facilities. 06). Printing/pubireproductionibiueprinting/photostating estaoiishment. (47). Proauce stana. AW . Raoiaior repair. (Q). Real estate sales W ices. GO. Recreational area, commerclai ano non-commerciai (see deiinitiont. (51). Rental service stores and yaras. 00. Fepairiservice-W ice/househoia equipment. (W). Restaurants. (54). Retail business tsee aefinition). (55). Riding academy and stables. (56). RV sales. (57). Second hana stores tsee definition). (56). Shoe repair. (W) . Ski rental snop. t6u). Small engine sales, service and repair (lawn mowers, saws). (61). Take and baKe prepared Woo facility. WE. Taxidermist. (Q). Telecommunication companies and/or radio common carriers. (64). Theaters in permanent indoor structure. &5). Tire dealer, alignment center. (66) . Trailer sales areas. (67) . Travel agency. (60. Trucx rentals, single aide, less than 20,100 pounds gvw. (0) . Upholstery shop. (70). Veterinary clinic, small animals. E-2 General Business Conditional27.14.030: Uses Which May Be Permitted - Perait. Q). Amusement park: or zoo ano similar out-of-doors activities. (2). Assembly halls/coliseums/stadiums/convention hatl QcKities. (3) . Campground/RV Park. (4). Casino. (5) . Drive-in theaters. (0. Electrical distribution station. (7). Fish sales stand, temporary. (3) . Golf courses. (9). Golf driving rangeiputting course. (10) . Hangars kaircraft: wnen abuttingicontiguous to an airport. (11). Heliports. t12). Hostel. youtn. (10 . Law enforcement/fire stations. (14). Lioraries, museums, ano similar cultural facilities. (15). Mobile restauraniivenoor facilities. (16). Quasi -public buildings, non-profit in character. 07). Railroad rignts-of-way. t18) . Recycling center. (IS). Restaurants, as an inciaeniai use. (20. Rifle range, in000r. (21). Schools, commercial (see definition). (22). Snelter, public or private. (ES). Temporary building/structure. (24). Transmission towers and accessory facilities. 05). Water storage facilities. a 7 , 14 a040 ® Property Development Standards tl). Minimum Lot Area: 7000 square feet (2). Minimum Lot Width (FT); 70 (3). Minimum Yards (FT) Front Yard - 20 Side yard - Rear Yard - 20 Side Corner - 20 (4). Maximum Building Height EFT): S5 ( 5) . Permitted Lot Coverage Q) : NiA (6). Off -Street Parking: refer to Sections 27.26 and 27.0 (7) . Maximum Fence Heights (FT) Front - G Side - 6.5 Rear - 6. M a. �a r j r tIr R"CIRD n TAPnucnly MAT Incorporated 1892 Planning, Economic & Community Development Department P.O. Box 1997 Kalispell, MT 59903-1997 June 22, 1995 Roger D. Jacobson, MAI Real Estate Appraiser & Consultant 1001 South Main Kalispell, Montana 59901 Re: Kalispell City Airport Appraisal -Project Dear Mr. Jacobson: 248 Third Avenue East (406) 758-7740 (406) 758-7739 (office fax) (406) 758-7758 (City Hall fax) The City of Kalispell has accepted your qualifications and proposal to provide the narrative acquisition and disposition appraisal services as noted in your April 17, 1995, response to the City's solicitation. Your firm, Roger D. Jacobson, MAI, hereinafter referred to as "Appraiser", is hereby selected to provide five (5) copies each of complete narrative appraisals on five parcels and a highest and best use analysis, long term lease and redevelopment potential and feasibility study on a sixth parcel. Your discounted package price for the entire project of Nine Thousand Five Hundred Dollars ($9,500.00) is approved. Specifically, the work to be provided is as you have outlined in your April 17, 1995, proposal and will include the Porta Villa Lot A appraisal. As outlined in your proposal, appraisals (1) and (2), the Robert and Donna Beaver property and Carmin Timmreck property - 1 and 1 .5 acres respectively, are acquisition appraisals, possibly eminent domain takings necessary to provide an airport runway safety Clear Zone at the north end of the airport. The appraisals will be used by the City to negotiate the purchase of the real estate and, if necessary, exercise the right of eminent domain. In any event, the owners will be able to sell to the City and defer any capital gains tax due if they reinvest the sales proceeds in a like property within a specified period. Appraisal (3) - Lot "A" Porta Villa Subdivision # 2 is to determine the fair market value of the .17 acre parcel (approximately 7,405 SF) as of the date of an agreement between the developer(s) and the City of Kalispell, dated June 15, 1993. A copy of the MEMORANDUM OF UNDERSTANDING is attached. Appraisal (3), therefore, should not include consideration of market comparables, listings, sales or market conditions for real estate transactions occurring subsequent to the Roger D. Jacobson, MAI June 22, 1995 date of the City/Developer Agreement. It will be used only to determine the value of the property as of the date of the agreement to fix the level of financial settlement between the parties to the agreement. Appraisals (4) and (5) are disposition appraisals which will be used by the City of Kalispell City Council, and its staff to determine the highest and best use of the parcel(s) for private redevelopment other than public recreation ball fields, and the "highest and best use" fair market value for purposes of offering the real estate for sale to private developers. Finally, item (6) of your assignment will be to furnish a narrative discussion and report of the highest and best use, long term lease, considerations, redevelopment potential and/or other uses permitted in an 1-1 zone - specifically, the City owned real estate located north of the City's Sanitary Sewer Treatment Plant. A??,e,4jS4,L.S -46- Based on our discussions and your proposal, it is our understanding t4e-wef4 &poG4'� could be completed on or before June 30, 1995; A eM41 Y44. S --4-1 2- 1460RAis-4 L -:x/.5 ex 712, 1 s7r At & 6 & Y 71e / , As you proceed, it will be important to notify Robert and Donna Beaver and Carmin Timmreck of the date and time you can schedule the inspection of their property. The owner must be allowed the opportunity to accompany you when you inspect their property and encouraged to furnish any information that may be considered to have an impact on the value of the real estate. If you would prefer, the City will be happy to arrange or schedule the inspections and meetings with the private property owners involved. The Appraiser agrees to deliver five (5) original reports to the City by Jb4-� , 1995, signed by the Appraiser. The deadline may be extended should circumstance beyond the Appraiser's or City's control preclude delivery by Ju+ie , 1995. The City agrees to pay the Appraiser, as total compensation for the professional services required to be performed herein, an appraisal fee of Nine Thousand Five Hundred and No/100 Dollars ($9,500.00). The fee will be paid by the City upon review of the report for compliance with the terms of this agreement, which review will be completed no later than thirty (30) business days after delivery of the reports to the City. To assist the Appraiser in completing the report, and provided the required information is not otherwise available to the Appraiser, the City agrees to make Roger D. Jacobson, MAI June 22, 1995 every reasonable effort to provide the Appraiser with information pertinent to the property that is necessary to complete the assignment. Your contact for additional information will be Lawrence Gallagher, at (406) 758-7741, at the Planning, Economic and Community Development Office located at 248 3rd Avenue East, Kalispell, Montana. The Appraiser certifies that, while others on the Appraiser's staff may participate in the preparation of the report, the undersigned appraiser will participate in the analysis contained in the report and will review and certify in accordance with USPAP requirements. This engagement letter and all attachments hereto will be included with the appraisal report. Please sign and return the original of this letter to acknowledge your acceptance of this assignment. Since , awrence Galla KDi�iector Planning, Economic and Community Development Department Enclosures 1 Memorandum of Understanding, dated June 15, 1993 cc: Bruce Williams, City Manager The undesigned appraiser accepts the terms and conditions of this engagement letter: .ijNkr. �- FCC Real Estat�4aiser & Consultant 1001 South Main Kalispell,``i 6 - z-` - Date Roger D. Jacobson Certified General Real Estate Appraiser 1001 South Main Street, Kalispell, Montana Biographical B.S. Degree, Montana State University, 1960, Mathematics Major, Music Minor Officer, U.S. Army Corps of Engineers, Active Duty, 1961-1963 Loan Officer, Norwest Bank, Kalispell, MT, 1963-1974 (Real Estate Lending, 1968-1974) Appraisal & Real Estate Experience and Education Independent fee appraiser, 1974 to present, self employed Primary Real Estate Appraisal Courses, presented by the American Institute of Real Estate Appraisers (AIREA) 1974 - Basic Appraisal Principles, Methods and Techniques 1975 - Capitalization Theory and Techniques 1976 - Urban Properties 1982 - Litigation Valuation 1982 - Capitalization Theory and Techniques, Parts II & III Continuing Education Seminars 1977 - Feasibility Analysis, AIREA 1978 - Valuation of Lease Interests, SREA 1983 - Standards of Professional Practice, AIREA 1984 - Application of Market Extractions, SREA Appraisal of Conservation or Preservation Easements, AIREA 1985 - Introduction to Investment Analysis, AIREA R41b Seminar, FHLBB 1986 - Evaluation Commercial Construction, HP Financial Calculator - Basic & Advanced, Highest & Best Use, AIREA 1987 - Appraising the Single Family Residence, SREA Real Estate and Federal Income Taxes, Hotel/Motel Valuation, AIREA Basic Farm Management, ASFMRA 1988 - Standards of Professional Practice, Valuation of Building for Insurance Purposes, Hazardous Waste and Toxic Materials, Cash Equivalency , Real Estate Risk - AIREA 1989 - Livestock Ranch Appraisal, The Appraiser as a Witness in Civil Litigation, Discounted Cash Flow Analysis & Rates -Ratios and Reasonableness, AIREA 1990 - Easement Valuation & Mineral Valuation, AIREA 1991 - Preparation of the Small Residential Income Property Appraisal Form, AIREA 1992 - FIRREA - A Round Table Discussion, The Appraiser and the Law, Standards of Professional Practice/Ethics, & Litigation Valuation, Appraisal Institute (AI) 1993 - Americans With Disabilities Act, Complex Residential Properties, Standards of Professional Practice, AI 1994 - New URAR, Written Communication, Limited Scope Appraisal, Al 1995 - Valuation of the Small Residential Income Property, Discounted Cash Flow Analysis, & Subdivision Analysis Memberships and Affiliations Received the MAI designation from the American Institute of Real Estate Appraisers on January 17, 1983. Currently certified. Representative Clients Local Area Lenders Others Kalispell: Glacier Bank, Valley Bank, Norwest Bank, Security Bank, First Interstate Bank, First Security Bank, Bank West, Whitefish Credit Union. Whitefish: Mountain Bank, First National Bank of Whitefish, Whitefish Credit Union Telephone Utilities, Portland, OR; Pacific Power & Light Co, Portland, OR; USDA, Forest Service, Flathead National Forest; PHH Home Equity, Norwalk, CT; Merrill Lynch Relocation; Flathead County Commissioners; Medical Arts Partnership, Kalispell, MT; Northwest Healthcare, Kalispell, MT; Semitool, Kalispell, MT; Seafirst Bank, Seattle, WA; Concordia College, Moorhead, MN; Flathead Municipal Airport Authority; State of Montana Dept of Highways, Helena, MT; The Mansfield Foundation, Missoula, MT; U.S. Postal Service; Confederated Salish & Kootenai Tribe, Pablo, MT; Whitefish Lake Golf Assoc, Whitefish, MT; Montana Power Company, Butte, MT; Flathead Valley Community College, Kalispell, MT; ARCO Metals Co., Columbia Falls, MT; Bonneville Power Admin, Portland, OR; Chicago Title Insurance Co, Seattle, WA Appraiser Qualifications John D. Atkinson, Certified General Real Estate Appraiser 1001 South Main Street, Kalispell, Montana Appraisal Experience Commercial Valuations - to $ 9 Million Industrial, to 120,000 sf Retail, to 130,000 sf Right-of-way, Eminent Domain Multi -use Commercial Buildings Apartment complexes, Medical CIinics Agricultural Mobile Home and RV Parks Multi -site Retail Operations Land Valuations - to $ 4 Million Residential Valuations - over $ 1 Million Areas of familiarity - Flathead, Lake, Lincoln and Sanders Counties Education BA in Mathematics, UCLA, 1962 Accounting and Business Mgmt, Ford Marketing Institute, 1963-1967 Standards of Professional Practice, Appraisal Institute, 1992 Appraisal Principles, Appraisal Institute, Phoenix, 1993 Americans with Disabilities Act, Appraisal Institute, 1993 Appraising Complex Residential Properties, Appraisal Institute, 1993 Appraisal Procedures, Appraisal Institute, Dallas, 1993 Basic Income Capitalization, Appraisal Institute, San Diego, 1993 General Applications, Appraisal Institute, Boulder, 1994 Advanced Income Capitalization, Appraisal Institute, Boulder, 1994 Other Experience Military, U. S. Army, 1955 to 1958 Ford Motor Company, 1962-1980 Dealer Representation, Dearborn, Mich Sales Management, Cincinnati, Ohio Product Planning, Dearborn District Management, Boston, Mass Owner -Operator, Northland Clothes and Northland Hobbies Kalispell, Montana and Coeur de Alene, Idaho, 1980-1992 Memberships MAI Candidate, Appraisal Institute State Accredited Affiliate of the Appraisal Institute (12/1/94)