CC MIN 06-08- to 12-21-1981 - Laserfiche WebLink

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C/5 Mayor Mario Biagi vice Mayor Wm.J.Stengel 1I,RO0IWOOd MINUTES •f�� Councilmen M BNIfM'h CITY COUNCIL Brenton C.Britschgi MN Robert H.Bury BOARD OF EQUALIZATION Gerald R.Chandler Marguerite Leipzig Community Activities Building Bill Rhodes July 20, 1981 • Regular Meeting The Council of the City of Redwood City met on this date at 10:00 a.m. as the Board of Equalization of General Improvement District No. 1-64 with Mayor Biagi presiding. Directors/Councilmen present: Chandler, Leipzig, Stengel and Mayor Biagi Directors/Councilmen absent: Britschgi, Bury, Rhodes Officials and staff present: City Attorney Schricker, District Assessor/Director of Finance Ference, City Clerk Hildebrand Also present: Roger Torkelson and Neil Anderson, American Appraisal Associates (General Appraisal Company) DISTRICT ASSESSMENT ROLL 1981-82 Mayor Biagi declared the regular meeting of the Board of Equalization of General Improvement District No. 1-64 open at 10:00 a.m. Affidavits of publications of Notice of Hearing reported on file. District Assessor Ference called attention to his letter of July 16, 1981 relating to corrections to the 1981-82 Assessment Roll. In response to question, Roger Torkelson, American Appraisal Associates, stated that the original appraisals of the parcels for which correction is requested were made when it was believed the parcels were ready for development. However, Mr. Torkelson said that Mobil (Redwood Shores, Inc.) has advised, and it has been substantiated by the Army Corps of Engineers, that it will be necessary to obtain Corps approval for a fill permit and development will not occur for some four years. In response to question from Gregg Doran, Redwood Shores Homeowners Association, Mr. Torkelson said that the reduction is from the amount originally assessed, not from the 1980-81 Assessment. In response to questions relating to specific parcels in Area A near the Fluor development identified as Parcels 95-15, 95-16 and 95-08, Mr. Torkelson advised that the sale of the Fluor property in December 1979 was at $5.00 per square foot, that the negotiations with Wilson & Gates at present suggest that property will sell for about $8.00 and that properties in the area range from $6.50 to $8.00 per square foot depending upon size, shape and relationship to Marine World Parkway and whether they are ready for development. He noted that value adjustments are based on those considerations for adjacent parcels. In response to suggestion that the assessments may be based on figures that are too low, Mr. Torkelson said that he is required to examine similar property to determine value and in doing so examined the Anza- Pacific development in San Mateo/Burlingame where that well- established office park with extensive development sells for about $10.00 per square foot, noting that that property is worth more than the relatively undeveloped Redwood Shores property. It was suggested . 4 Bd.Equal. 7/20/81