Wednesday, May 4, 2016

Land swap appraisals released

Posted By on Wed, May 4, 2016 at 4:07 PM

click to enlarge Richard Skorman during a hike through Strawberry Fields open space in March. - PAM ZUBECK
  • Pam Zubeck
  • Richard Skorman during a hike through Strawberry Fields open space in March.
The city has released the appraisals of parcels included in the land swap with The Broadmoor. That happened just minutes ago.

They can be found at this link, but be aware they are so large that it takes awhile to download them.

The bottom line is that the review of the original appraisals, done by a city-hired appraiser of city properties and a Broadmoor-hired appraiser of its properties, resulted in a change of only $1,400. That amount was shaved from the original value of the Barr Trail and Chamberlain Trail segments that the resort is willing to trade to the city.

No change was made to the value of the city's 189-acre Strawberry Fields open space, which is said to be worth $1.6 million.

Parks Director Karen Palus announced the appraisals' release at a quickly-called news briefing at parks offices, but couldn't say whether the release renders a court hearing planned for Friday moot. The hearing was for a lawsuit filed by attorney Bill Louis on behalf of opponents. Louis sought to force the city to release the appraisals. If Louis had prevailed, the city would have to pay his attorney fees. 

City Council will hear a report from the appraisal reviewer, Muegge & Associates, at its informal meeting. The Broadmoor's property is valued at $3.6 million, while the city's is valued at about $2.2 million, leaving a $1.45 million gap that The Broadmoor would claim as a tax deduction, according to the resolution to be considered by Council.

At 6 p.m. on Monday, Council will hold a session in Council Chambers, 107 N. Nevada Ave., at which the mayor, Parks Department and Broadmoor will give a presentation, followed by public comment.

Council is slated to act on the land swap proposal on May 24.

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