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Paula Gutierrez Baeza, Esq.Richards, Watson & GershonAmer Attar, P.E., MBACity of TemeculaJoyce L. Riggs, MAI, SR/WARiggs & Riggs, Inc.
PROJECT DESCRIPTION
Purpose of Project Road is a Major Arterial Realign and Widen Road to Ultimate
Configuration Connect Road to a Proposed Major Arterial
Consistent with General Plan Road Before Project
Center Dual Left Turn Lane Dead-Ends at a Bank Building South of
Project
PROJECT DESCRIPTION
Road After Project Two Lanes in Each Direction Landscaped Median Ability to Connect to Future Major
Road Full Street improvements
PROPERTY DESCRIPTION
Industrial Building Light Industrial Zoning Business Park General Plan Low Building Coverage Ratio Access From One Driveway Need for Small Area of Fee and
Temporary Construction Easement for Project
IMPACTS TO PROPERTY
Acquired Property and TCE Landscaping & Internal Circulation
Road Impacts Widen Driveway New Raised Median – Restrict Left
Turns Travel Distance for Truck from
Freeway -Before vs. After Condition
Original Truck Route from Freeway
3800 Ft ~ ¾ Mile
New Truck Routes from
Freeway9500 Ft ~ 1 ¾ Miles10800 Ft ~ 2 Miles
NEGOTIATIONS WITH OWNER
Attempts to Acquire Property with Owner by Negotiated Agreement
No Success Council Adopted Resolution of
Necessity Complaint Filed
APPRAISAL VALUATION
Valuation of Larger Parcel – Entire Property Income Capitalization Sales Comparison Approach
Valuation of Land Value – As Acquisition Area Included Land and Only Site Improvements
Value of Fee Part Acquired (Land & Site Improvements)
Value of Remainder After Acquisition Value of Temporary Construction Easement
VALUATION OF THE PART ACQUIREDLand Area $/SF % Rights Acquired
Indicated Value
13,363 SF x $7.50 x 100% $100,223
Value of the Land - Fee Part Acquired $100,223
SITE IMPROVEMENST/COMPONENT S UNIT UNIT PRICE COST
Asphalt Paving 5,850 SF $2.50 PSF $14,625
Total Site Improvements $14,625
Indirect Costs (13.0% of Direct Costs) $1,901
Total Direct and Indirect Costs $16,526
Entrepreneurial Profit (15.0% of Total) $2,479
Replacement Cost New of Hardscape Improvements $19,005
Less: Depreciation (50.0%) $ 9,503
Depreciated Replacement Cost New of Hardscape $ 9,503
Landscaping:
Grass with Sprinklers 7,513 SF $2.50 PSF $18,783
Trees 2 $350.00 EA $ 700
Total Landscaping Costs $19,483
Indirect Costs (13.0% of Direct Costs) $2,533
Total Direct and Indirect Costs $22,015
Entrepreneurial Profit (15.0% of Total) $3,302
Replacement Costs New of Landscaping $25,318
Estimated Value in Place of the Improvements $34,821
Summary of Part Acquired Valuation
Value of the Land to be Acquired in Fee$100,223
Plus: Value of the Improvements to be Acquired 34,821
Total Value of the Fee Part Acquired$135,044
* * *Area Rate Percentage Term Value
9,360 SF x $7.50/SFx 10% x 1.25 Year = $8,775
Value of Land Area in Temporary Construction Easement $8,775
All site improvements within the temporary construction easement area
will be replaced in kind as part of the project.
SUMMARY OF VALUE CONCLUSIONSValue of the Whole Before Acquisition $2,780,000
217,804 SF - site (fee) + improvements
Value of the Part Acquired as Part of the Whole $135,044
(Fee) 13,363 SF of Land $100,223
Site Improvements $ 34,821
Value of the Remainder as Part of the Whole $2,644,956
Value of the Remainder After
Acquisition, Disregarding Benefits $2,644,956
Severance Damages $ -0-
Value of the Remainder After Acquisition,Considering Benefits $2,644,956
Less: Benefits $ -0-
Net Severance Damages $ -0-
Estimated Just Compensation $135,044
Value of Temporary Construction Easement Part Acquired:
TCE 9,360 SF of land $ 8,775
Just Compensation for Temporary Construction Easement $ 8,775
Total Estimated Just Compensation $143,819Rounded To:
$145,000
LEGAL PROCESS Resolution of Necessity Filing of Complaint in Eminent Domain Answers Filed by Property Owner and Lessee Meetings on Site with Property Owner and Lessee Deposition of Lessee Mediation to Narrow Issues Exchange of Expert Valuation Data Settlement with Lessee Mediation on Valuation Issues No Settlement with Owner Deposition of Experts
DEFENDANT’S APPRAISER’S VALUATION Value of the Larger Parcel $3,600,000 Value of Fee Part Acquired $ 286,240
Land Value 13,363 SF @ $13.55/SF $181,100 Improvements in Fee Area:
Three Mature Trees $50,000 Grass & Sprinkler System $41,535 Chain Link Fencing w/Barb Wire$ 1,875 Asphalt Paving $11,730 Total Improvements $105,140
Temporary Construction Easement - 0- Cost to Cure Damages (15% of $3,600,000) $
540,000 Severance Damages (20% of $3,600,000) $
720,000 Total Just Compensation $1,546,140
DEPOSITION OF EXPERTS
Appraisal – Weakness in Property Owner’s Appraisal Errors Found Methodology Problems
Architect Appraiser – 2nd Day Follow Up Questions Traffic Engineer
Weakness in Analysis Different Scale Used for Drawings
Truck Turning Radius Different than Scale Used for Underlying Architectural Site Drawings
FURTHER SETTLEMENT TALKS
After Depositions Identified Strengths and Weaknesses of Case
Prepared Motions Consideration of Trial Costs
Legal Expert Fees Exhibits
Stronger Negotiating Position After Depositions Owner Settled for Less Than Original Offer