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<br />1) APN 095-214-010. Senior Accountant Babb presented the staff report and <br />described misunderstanding concerning APN 095-214-010. Both parties <br />concurred that the assessors value is $3.00 and that figure is <br />acceptable to both parties. <br />2) APN 095-312-010. Senior Accountant Babb presented the staff report and <br />remarked on the renegotiated sale price of this property from <br />$19,000,000 to $13,800,000 plus $500,000 payment in 1993, and the <br />justification for the appraised value at $17,835,000. I <br /> , <br />Joseph Bach, representing American Appraisal Associates of Walnut <br />Creek, described process of appraisal. <br />Douglas Goodrich, representing Ad Valorem Company, reported on the <br />realities of the current real estate market, the need to renegotiate <br />the purchase price, and the justification for an assessment of <br />$13,800,000. <br />Mr. Slater of W.W. Dean, advised that copies of the contractual <br />agreements were included with the appeal and in answer to Council I <br />questions advised that delaying the refund to next fiscal year was <br />acceptable. <br />Mr. Goodrich described appeal covered last year's assessment also and <br />advised the County has the power to review past years. <br />For the record, City Attorney Schricker advised that the only appeal <br />being considered at this time was against the GID 1-64 Assessment for <br />the Fiscal year 1991-92. I <br />Council discussed real estate prices over the past few years, reasons <br />for renegotiated sale price of subject property, and market changes <br />prior to date appraisal was done. <br />M/S: STANGEL/GREENALCH TO GRANT THE APPEAL SETTING APPRAISED VALUE AT I <br />$13,800,000 AND ISSUING REBATE IN FISCAL YEAR 1992/93. <br />Councilman Murray advised that the $500,000 payment in 1993 should be <br />added to the total purchase price and the appraised value should be <br />$14,300,000. <br />The originator and seconder of the motion did not concur. <br /> I <br />MOTION CARRIED BY THE FOLLOWING VOTE: I <br /> AYES: DIRECTORS BUCHAN, GREENALCH, STANGEL AND CHAIRWOMAN <br /> LA BERGE <br /> NOES: DIRECTOR MURRAY <br /> ABSTENTIONS: DIRECTOR BURY (DUE TO HIS LATE ARRIVAL) <br /> MINUTE ORDER NO. EQ 91-002 <br /> -------------------------------------------------------------------------------- <br /> Board of Equalization <br /> December 2, 1991 ~ -- . . ¡ <br />MINUTE BOOK NO. 50 , <br />Page No. 414 <br />_.._--~_._~ ~ --- - - ~ -..---- - -- ----- - - - ~~----- -~ - ~ .._-- - ---- _.- - -. ----- --- - <br />