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_ . . � . . . 9 � �� pR�es . . . . MINUTES Vks Mayor Bob Naris �� �� CITY COUNCIL Councilmen Mario 8iepi ��_� �n H,�,ry BOARD OF EQUALIZATION GID 1-64 (3erald R,cr�.�die► Comnuni ty Acti vi ti es Bui 1 di ng Ma�oue��e�e�arro , November 5, 1979 Mhn.J.8tarqsl . ��" �nr BOARD OF EQUALIZATION. GID N0. 1-64 The Council of the City, of Redwood City, meeting as the Board of � Directors for General Improvement District No. 1-64, met on this date at 10:00 a.m. with Mayor Rhodes presiding. Directors present: Biagi , Leipzig, Sta�ngel and Mayor Rhodes Di rectors ebse�t: Bury, Chandl er� Norri s Officlels and steff resent: City Mandger Fa1es, Director of Finence �erence, ss s an ty orney Mdloney� DeNuty City C1erk Reggetts and Da�vid Boheglnn, Generel Apprnisal Compdny. Assessment Apaeels Wedring Meyor Rhodes steted �thet the Councll is meeting es the 6oard of Equallzation of GID No. 1-64 for the purpose of hearing eppeals of essessments on the Assessment Ro11 1979-1980. '� Mr. Ference referrmd to the City Mandger's report of November 1, 1979, � etteching his report of October 31� dnd copies of pertinent corre- - spondence, and eppll�atlons for assessment ad�ustment. He in�roduced Mr. Bohegien, of Genaral Apprdisal Compa�ny, Victor G. `Wandma er 353 ua Lene Per�cel 95-080-280 - a on ow re uc on' n ' a rd �e ' vd ue' rom 600 to 1�2 000 Mr. Bohegian responded in turn to eech polnt listed in �he letter dated Ju1y 30, 1979 submitted by Mr. Wendmayer ds pa�rt of his dppli- - catlon, to explain the besis for their a�ppraisel � a�nd with rega�rd to the flrst point� e11 properties in the District ha�d the burclen of bonds to carry, so they felt no ed�ustment wes werr�nted. With respec� to the argumer�t that e portion of the 1ot wes unuseble, he noted thdt the sub�ect 1ot (6,000 squere feet) wes considerably ldrger then �he ty p1ca1 1ot, end tha� th�y did not velue property on the basis of ab111ty �o eccept improvements. They elso diaegre�d w#�h the state- ment thet th. value we: 1lmited by f111 conditions, since mos� of th� properties in the District have the seme problem; thertfore, no ed�ustn�nt was lndicat�d. Mr. Bohegian noted tha� the typica�1 much smell�r 1ot wae velued e� �40�000 for the 1end, so th� valuation of the sub��ct 1ot et �46�600 was more then reeson+able. Appreisal of �h� improv�nts at �87�100 took into consid�ration a�ddi�lona�l im- provenNnts, includinq decking end other dddt�ions, a�nd the compeny consid�r�d that estimat� to b� very r�a�sonable. H� concluded �h��, w��h th� curr�nt �yst�m of texation employ�d by �he District, tax�s ar� incr�eslnq con�tantly du• to the mark�t; thdt the combtn�d in- flatlon and apprrclation rete hes be�n ebou� 26% per y�e►r, so the epprels�rs con=�d�r that no r�duction ia war�ant�d in thta c�s�,