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Parcel H Appraisal (Jean Klock Park Mitigation Parkland)

Parcel H Appraisal (Jean Klock Park Mitigation Parkland)

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Published by ProtectJKP
Appraisal for Mitigation Parcel H
Appraisal for Mitigation Parcel H

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Categories:Types, Business/Law
Published by: ProtectJKP on Jan 27, 2012
Copyright:Attribution Non-commercial

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12/11/2012

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c
.,
CLIENT
,TheCityofBentonHarborc/oGeoffreyA.FieldsDickinsonWrightInc.Suite900-200OttawaAvenueN.W.GrandRapids,Michigan49503-2423
PROJECT
MitigationParcelHAKARiverWalkEastHarborShoresDevelopment-JeanKlockParkCityofBentonHarborFeeSimple
PROPERTYOWNER
CEl1t
eo
PROPERTYADDRESS
S£p
29
200
SouthofWhitwam-WestsideofPawPawRiver
Mle6
BentonHarbor,Michigan49022
GflANTt'~GANDNFi
ANA,G£:MfNT
INTERESTAPPRAISED
WhirlpoolCorporation2000NorthM-63BentonHarbor,MI49022
VALUATIONDATE
September19.2006
APPRAISEDBY
MATUREN
&
ASSOCIATES,INC.1125E.MilhamAvenuePortage,Michigan49002Phone(269)342-4800FAX(269)342-5448
;.
 
I
I
TABLEOFCONTENTSSectionl-GeneralDataPAGES
I
I
f
A.CoverPage1B.TableofContents2C.SummaryofSalientFacts3D.LegalDescriptionofOwnership4E.AssessedValuationandTaxes4F.Zoning4-5G.SalesHistoryofProperty5H.Ownership,OccupancyandContactwiththeOwner5
I.
InterestAppraised5
J.
Purpose,Function
&
ScopeoftheAppraisal6-7K.ReportFormat7L.IntendedUseandUsers7M.DiscussionofAppraisalProblem7-8N.Fixtures8O.HazardousWasteorPropertyContamination8P.ReasonableExposureTime9
I
I
SectionII-ValuationofPropertyA.DescriptionofProperty
10
B.PresentUseofProperty
10
C.HighestandBestUseofProperty
11
O.EstimatedValueviaCostApproach12E.EstimatedValueviaIncomeApproach13F.EstimatedValueviaSalesComparisonApproach
14-21G.
CorrelationandConclusionofValue
22
SectionIll-Certification
23
SectionIV-AddendumA.MapsandSketchesandLegalDescriptionsA1-6B.SubjectPhotographsA7-9C.GeneralArea,City,andNeighborhoodInformationA10-12D.CityofSt.JosephZoningExcerpt..._:A13-18E.StatementofLimitingConditionsA
19-20
F.AppraiserQualificationsA21-22
G.
Comparable5alesA
23-29
HARBORSHOAESMltig
arion
ParcelA
2
MATUREN...ASSOCIATeS,INC.RealEstateApprarser-Consultant
 
SUMMARYOFSALIENTFACTS
ThesubjectisavacantparcellyingsouthofWhitwamDrivealongthewestbankofthePawPawRiverasitreachestheconfluenceoftheSt.JosephRiver.ItliesslightlylessthanonemilefromthemouthoftheSt.Josephasit
-
emptiesintoLakeMichigan.ThesubjectisaportionofwhatwillbeawalkwayalongtheriverbankleadingfromthebridgeoverthePawPawatWhitwamtothewestsideofM-63alongthebanksofthePawPawandtheSt.Joseph.Itis75'deeponaverageandhasalengthof775frontfeet(FF)alongthePawPawRiver.Thesiteisroughlyrectangularinshapeandcontains1.47acres
±
(AC)'net(orarounded64,000SF).Ithasapproximately200frontfeet(FF)onWhitwamDrive.Theparcelisgenerallylevelinnatureandwaspartthesiteofamanufacturingfacilityatonepointintime.Thesubject'sneighborhoodisonethatisawaitingredevelopment.ThistractwillbededicatedtotheuseofthepublicforrecreationalpurposesaspartofamitigationprocessrelativetotheacquisitionofJeanKlockParkpropertyforgolfcoursepurposes.ThisreportisintendedtocomplywithMDNRreportingcriteria.Area:Land:1.47AC(net)(64[OOO
±
SquareFeet-SF)775FFonthePawPawRiver200FFonWhitwamDriveBuildings:None
.~
3
MATUREN
&.
ASSOCIATES,INC.Re.1estateAppraise,Consultant
LandImprovements:NoneHighestandBestUse:WaterfrontdevelopmentValuationIndications:viaCostApproachviaIncomeApproachviaSalesComparisonApproachNotApplicableNotApplicable$714,000CorrelatedConclusionofValue:$714,000ValuationDate:September19,2006DateofValuationConclusion:September25[2006

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