HomeMy WebLinkAboutAgenda Statement 1986/10/14 Item 07COUNCIL AGENDA STATEMENT
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Meeting Date 10/14/86
ITEM TITLE: Resolution ~~ ~ 7G Approving a contract with Gerald S.
Kibbey and Associates, Inc. for the appraisal of property
located at 626 Second Avenue
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SUBMITTED BY: Community Dev,,e/lopment Director'
REVIEWED BY: City Manager(- (4/5ths Vote: Yes No X )
Staff has been directed to obtain an estimate for the appraisal of a property
located at 626 Second Avenue. An estimate and appraisal contract have been
obtained and are attached for Council's consideration.
RECOMMENDATION: That the City Council approve the attached contract with
Gerald S. Kibbey & Associates.
BOARDS/COMMISSIONS RECOMMENDATION: N/A
DISCUSSION:
The owners of the single family residence at 626 Second Avenue have expressed
interest in selling their property to the City. The property is located
outside the Town Centre Redevelopment Project Area (vicinity) and two lots
down from the Greg Rogers Historical House (see vicinity map).
Gerald S. Kibbey & Associates, Inc. has submitted a contract for $1,000 for a
narrative appraisal report which can be completed within 60 days. This fee is
considered to be reasonable.
Gerald S. Kibbey & Associates, Inc. is one of the appraising firms
periodically used by the City for appraisal services. Hiring Gerald S. Kibbey
& Associates is consistent with the Community Development Department's policy
of utilizing a rotating list of certified appraisal companies. The rotating
list which has been recently expanded, assists in reducing appraisal costs by
using firms familiar with the area and having established land market data.
FISCAL IMPACT: The contract fee for the narrative appraisal is $1,000.
Funds are available in Account #600-6000-GF34.
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