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Board of Equalization (continued) <br />stating that the information was used as the basis of appraisal of <br />Shorebird Solar property: <br />Exhibit 1 -a. Sales - 10/81 - 12/81 <br />Exhibit 2 -a. Price List for units at the date of appraisal, March 1, <br />1982. <br />Exhibit 3 -a. Land and Land Values <br />Mr. Anderson commented and replied to questions regarding appraisal <br />methods and the fact that the appraisal represented some 15% less than the <br />proposed selling prices at which the units were being offered. <br />Mark Kroll, Shorebird Solar Corporation, referred to the slide exhibits <br />presented by Mr. Anderson and commented concerning when sales listed <br />occurred, stating that he believes method of financing sales is relevant <br />to fair market value, since the units were not sold at the prices offered <br />or at the appraised price. <br />Discussion followed and Mr. Kroll, Mr. Schricker and Mr. Anderson <br />commented and replied to questions concerning appraisal techniques; the <br />material which may be properly considered in appraising property; the fact <br />that sale prices were set by Shorebird; the fact that the units were <br />appraised at 15% less than the offering price; whether errors might have <br />occurred in determining the "sell -out" period; whether the appraisal <br />method was equitably applied to all properties in the District; and the <br />suggested appraisal technique offered by the appellant. <br />M /S: Mosher /Biagi to close the public hearing. <br />Carried unanimously by voice vote, and public hearing closed at 8:12 p.m. <br />M /S: Mosher /Biagi to affirm the appraisal of American Appraisal <br />Associates and deny the application of Shorebird Solar Corporation, 10900 <br />North Wolfe Road, Cupertino. <br />Carried unanimously by voice vote, Councilman Rhodes abstaining. <br />MINUTE ORDER NO. 83 -33 <br />---------------------------------------------------------------------------- - - - - -- <br />ADJOURNMENT <br />M /S: Biagi /Mosher to adjourn. Carried unanimously by voice vote and the <br />Board of Equalization adjourned at 8:14 p.m. <br />Reqular Meetinq <br />CALL TO ORDER - 8:15 p.m., Mayor Stangel presiding. <br />Councilmen present: Biagi, Britschgi, Bury, Claire, Mosher, Rhodes <br />and Mayor Stangel <br />Councilmen absent: None <br />Officials and staff present: Smith, Schricker, Tasseff, Hildebrand and Addiego, <br />Schroeter, Vollmayer, Mott, O'Brien, Guardino <br />Reg.Mtg. <br />3/7/83 <br />Page 2 <br />MINUTE BOOK NO. 44 <br />Page No. 72 <br />