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08052010 City Council Work Session Notes - Land Policies & Lease Procedures
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In conjur Development, attached are various sections of codes, together for your discussion. Some possible propertit series of questions that have been unanswered over the years. A list of possible lands for disposal to tax rolls. ( ,azmA `" h'1-f, Third avenue tot lot r �w oBoulder Field \I Jesse Lee Home C,(rK ' ' o Nash Road bench areafi O 6th Avenue city shop land k k ,� .� (\CSt(Sa4 3-4, o New 5 acres in south harbor area �vt� " o SMIC properties -).pSd l Some questions posed over the years. 5h&D ct r -40 4'iii.e.1,1` i,t( � 63o 40 & a�t • Once land is identified for sale, what next? Where would the city market it? Would Would the city hire a real estate agent? Use the website of Anchorage Department of Economic Development? • If land were freed up for disposal, who would it better benefit? Is it best to sell for commercial use or residential use? • Should specific projects be identified before selling? • Will land be needed to expand future operations of the city? What land may be needed in the future if the city annexed areas outside our limits? • If sale for commercial use, what screening criteria should be used for potential purchasers, such as financial capability to develop, types of uses which produce the most high paying year-round jobs, sales tax revenue, property tax? • What types of performance standards would be used to guarantee accomplishment of the city's goals? • How would private ownership of SMIC lands affect eligibility for grants and low interest loans that may be needed to continue developing the infrastructure at SMIC? • Instead of deciding the huge question of sale vs. lease, should the city identify and prioritize the land it does wish to sell? TABLE OF CONTENTS Work Session on City Land Leasing and Selling Policies Thursday, August 5, 2010 at 7:00 p.m. ***************************************** A. January 25, 2010 minutes setting this work session Pg 1 B. Pertinent section, §7.05 Acquisition and Disposal of Real Property, in the Seward City Code .Pg 2 C. Pertinent section, Land use Volume 1, of the 2020 Seward Comprehensive Plan.....Pg 10 D. Introduction and disposal section of the 1995 Seward Municipal Lands Management Plan Pg 12 E. Seward City Council Resolution 1994-101, lease procedures Pg 15 F. 2002 Harbor Uplands Property lease vs. sale cost benefit analysis Pg 21 G. ADEC Prospector.com website information Pg 48 H. PACAB March 17, 2010 minutes .Pg 52 MAPS ON THE WALL > City of Seward aerial map ➢ City of Seward ownership map > Nash Road bench area map > SMIC ownership map > South Harbor Uplands Plat ➢ City Infrastructure Map (water, sewer, electric) City of Seward AlaskaalliP Ciry Council Minutes January 25, 2010 Volume 38,Page Amendment#3 Passed Unanimous Consent Council member Amberg made a motion to strike the wording in the 15th WHEREAS"in the defense of the lawsuit"and delete section 3,which died for a lack of a second. After hearing council concerns about the amount of financial and legal support,Oates stated he would ask for an executive session at the next meeting to explain possible strategies. Amendment#4(Amberg/Keil) Delete Section 3 ' - _mu.,, `t, Amendment#4 Passed Unanimous • HA.:. s 1^. , s Main Motion was Passed as Amended Unanimous N. ek,,-, OTHER NEW BUSINESS y z =v° 9. Y'F.. The Mayor appointed Vice-Mayor Bardarson too value for the City Attorney and City Clerk. ,,_' gym. ., Some ideas were discussed on how to celebrate Seward's'thoty,.,Atonday March 29, 2010. Council would ask the Historical Sog011ift t Historic Preseli`tion Commission and the -rPioneers for ideas. le ,44 drooP /� City land sale policies were discussed,and a` orlessioh'was set for Tuesday,March 9,2010. / V. INFORMATIONAL npis ANDIEPORTT action required) 1. January 8,2O16 - yors?Eiliro re: Mural Exchange. 2. January V,2010i40 ayor letter to Senator Murkowski. COUNCIL;.COMMENI , N • i. ''Sha was happy tlhe city staff was raising funds for Haiti. Valdatta'stS,ed theward Landfill only had fluorescent bulb disposal once a month and thought the city needed'fo notify them on the dates and times the City was disposing of their fluorescent bulbs. :; Keil and Bardarson thanked all the volunteers for another successful Polar Bear Jump. Dunham complimented the 50 volunteers who assisted with the Alaska Sealife Center Marine Gala in Anchorage. He thought it was extremely well attended and it had raised around $58,000. He notified that EVOS and NOAA had about $76 million dollars of Exxon funds remaining and was proposing to split it up and would be in town in March 2010. Dunham had attended a two day session on economic development and mentioned that the oil refinery in Kenai / 4\4)-4 -1 ' )64 . ? m V L t •���� 10661 OA) Chapter 7.05. Acquisition and Disposal of Real Property* *State law references: See AS 29.35.010(8)for state provisions allowing a municipality to sell, own, etc., real property; see AS 29.35.030 for state provisions allowing municipalities to exercise the powers of eminent domain; see AS 29.71.010 as to adverse possession. Article 1. Generally 7.05.110. Adoption of provisions and statutory authority. 7.05.115. Definitions. 7.05.120. Alternative means of real property acquisition or disposition. 7.05.125. Public hearing and notice. 7.05.130. Terms and conditions to be made available. 7.05.135. Authorizing resolution to approve terms and conditions. 7.05.140. Posting copy of resolution. 7.05.145. Effectiveness of resolution. 7.05.150. Appraisal. 7.05.155. Notice of foreclosure sale. 7.05.150. Adjustment to fair market value. Article 2. Disposition of Real Property by Public Auction or Sealed Bid 7.05.210. Terms and conditions of sale. 7.05.215. Location of sale. 7.05.220. Procedure for sale by sealed bid. 7.05.225. Selection of successful bidder(s). 7.05.230. Resolution accepting bids. Article 3. Short-Term Lease Negotiation 7.05.410. City manager authorized to negotiate short-term leases. Article 4. Encroachments, Easements and Rights-of-Way 7.05.510. Easements and rights-of-way. 7.05.515. Encroachments. 7.05.520. Recording. Article 5. Tidelands 7.05.610. Purpose. 7.05.615. Definitions. 7.05.620. Preference to upland owners. 7.05.625. Preference right application. Article 1. Generally* *Prior ordinance history: Ord. 520, 1984; Ord. 610, 1988; Ord. 92-05. 7.05.110. Adoption of provisions and statutory authority. These regulations are adopted by the city council pursuant to authority vested in that body by the charter of the city and by the Alaska Land Act, AS 38.05.820, as amended. (Ord. 98-04) 7.05.115. Definitions. For purposes of this chapter, the following terms defined have the meaning provided below unless the context requires otherwise. Acquisition means to obtain ownership or interest in and to hold real property within or outside the city boundaries by purchase, gift, donation, grant, dedication, exchange, redemption, purchase or equity of redemption, operation of law, tax or lien foreclosure, adverse possession, condemnation or declaration of taking, annexation, lease or by any other lawful means of conveyances. City means the city of Seward, Alaska. Disposition means the transfer of city interest in real property by warranty or quitclaim deed, easement, grant, permit, license, deed of trust, mortgage, contract of sale of real property, plat dedication, lease, tax deed, will, or any other lawful method or mode of conveyance or grant. Fair market value means the highest price, described in terms of money, which the property would bring if exposed for sale for a reasonable time in the open market, with a seller, willing but not forced to sell, and a buyer, willing but not forced to buy, both being fully informed of all the purposes for which the property is best adapted or could be used. Real property interest means any estate in land, including tide and submerged lands, or improvements thereon. Rights-of-way, encroachments or easements wherein no warranties are made and title is not transferred are regarded as not involving the disposal of a party's interest in real property; thus, the execution of such documents are exempt from provisions of charter section 12.3(b) and section 7.05.110, et seq. of this chapter. Structure means any improvement, constructed or erected on or attached to the ground or another structure, including, but not limited to, awnings, refuse container racks, towers, sheds, signs and fences. Submerged lands means those lands covered by tidal waters between the line of mean low water and seaward to a distance of three geographical miles, or as may hereafter be properly claimed by the city. Tidelands means those lands which are periodically covered by tidal waters between the elevation of mean high water and mean low water or are contained within a recorded Alaska Tideland Survey. (Ord. 92-05; Ord. 98-05) 7.05.120. Alternative means of real property acquisition or disposition. The city council may acquire or dispose of an interest in real property by negotiation, public auction, or sealed bid. (Ord. 98-04) 7.05.125. Public hearing and notice. Prior to disposition or acquisition of a real property interest by negotiation, public auction or sealed bid, a public hearing shall be held. Notice of the public hearing shall be published in a newspaper of general circulation in the city and shall be posted in at least three public places within the city. Both posting and publication shall be done at least ten days prior to the hearing. (Ord. 98-04) 7.05.130. Terms and conditions to be made available. The notice of public hearing shall indicate where the public may obtain the essential terms and conditions of the proposed acquisition or disposition. A copy of the terms and conditions shall be maintained for inspection at the office of the city clerk for at least ten days prior to the hearing. (Ord. 98-04) 7.05.135. Authorizing resolution to approve terms and conditions. 3 At any time after the hearing required in section 7.05.125, the council shall make a finding in an authorizing resolution that the essential terms and conditions and the method of acquisition or disposition are in the public interest. (Ord. 98-04) 7.05.140. Posting copy of resolution. Upon adoption of a resolution approving an acquisition or disposition, the city clerk shall cause a true copy of same to be posted for at least 30 days in at least three public places within the city. (Ord. 98-04) 7.05.145. Effectiveness of resolution. Objections to a resolution approving a real property acquisition or disposition may be made at any time until the resolution becomes effective. Unless rescinded or amended, any resolution adopted under this chapter automatically becomes effective 30 days after passage and posting. (Ord. 98-04) 7.05.150. Appraisal. (a) The city shall not sell any real property interest without first making an appraisal of the fair market value of that interest, unless the city council finds that the public interest will not be served by an appraisal. (b) If an appraisal is made, the property interest shall not be disposed of for less than the appraised fair market value, unless the city council finds by resolution that public interest will be served by disposing of the property interest for less than the appraised fair market value. (Ord. 98-04) 7.05.155. Notice of foreclosure sale. Before property obtained through a foreclosure may be sold, notice of such sale must be sent by registered or certified mail to the last known address of the record owner at the time the foreclosure action was initiated. The notice shall be mailed at least 30 days prior to the effective date of sale. It shall contain the following information: (1) The time and date of sale; (2) The manner of sale; (3) The place of sale; and (4) Notice that until the effective time of sale the record owner has the right to repurchase the property as provided by AS 29.45. (Ord. 98-04) 7.05.150. Adjustment to fair market value. (a) Except as provided in (b) of this section, the rent under each lease of city property shall be adjusted on July 1, 1995, and on July 1 of every fifth year thereafter during the term of the lease, to the fair market rental value of the property as of the date of adjustment. For each leased property subject to rent adjustment under this section, the city shall obtain a fair market rental value appraisal as of the date of each rent adjustment. (b) Subsection (a) of this section shall not apply to any lease of city property: (1) Authorized before the effective date of this section, except to the extent that the rent adjustment described in subsection (a) of this section has been incorporated in the terms of the lease; LI (2) For which the council finds that the public interest will be served by leasing the property for less than appraised value; or (3) Whose terms provide for adjustment of rent to fair market value more frequently than every five years. (c) Nothing in this section extends the term of any lease of city property. (Ord. 98-04) Article 2. Disposition of Real Property by Public Auction or Sealed Bid* *Prior ordinance history: Ord. 520, 1984; Ord. 610, 1988; Ord. 92-05. 7.05.210. Terms and conditions of sale. (a) The resolution authorizing the sale of real property by public auction or sealed bid shall set forth the terms and conditions of the public sale. The council shall reserve the right to reject any and all bids received. The resolution shall provide if the sale is for cash, or cash deposit and a purchase agreement. If the sale is for a cash deposit and a purchase agreement, the city manager shall prescribe the form of the purchase agreement. (b) The city manager shall designate the individual who shall conduct the sale, and such designee shall give the bidder a receipt for all moneys received by the city. A purchaser at a public sale by auction or sealed bid who fails to make such other cash payments within the time required by the authorizing resolution shall forfeit any cash deposit paid to the city. (Ord. 98-04) 7.05.215. Location of sale. The public sale by auction shall take place at a location within the city limits as selected by the city manager. (Ord. 98-04) 7.05.220. Procedure for sale by sealed bid. All real property interests offered for public sale by sealed bid may be sold to any person submitting an offer in writing to the council. Such offer shall be submitted in a sealed envelope marked "Real Property Bid" and must be accompanied by a check or money order made payable to the city in an amount equal to at least 20 percent of the amount bid for residential lots and ten percent of the amount bid for other parcels. (Ord. 98-04) 7.05.225. Selection of successful bidder(s). If there is more than one bid, at a public auction or by sealed bid, for a particular or group of lots, the lot(s) shall be sold to the highest bidder(s). The highest bidder(s) shall be the one(s) whose bid(s) represents the highest total price for the property interest(s). In the event that two or more parties submit high but identical bids, the council may accept the bid first received, or reject all bids. (Ord. 98-04) 7.05.230. Resolution accepting bids. After a sale has been conducted by public auction or sealed bid, the council, by resolution with or without public hearing, may approve all public sales of real property based on a the bids received, and shall approve any purchase agreement prior to its execution by the city. The approval of any public sale by the council authorizes the city manager to take all steps and execute all instruments to complete and close the sale. (Ord. 98-04) Article 3. Short-Term Lease Negotiation 7.05.410. City manager authorized to negotiate short-term leases. Nothing in this chapter shall prevent the city manager from negotiating short-term leases of city property subject to council approval at the next regularly scheduled city council meeting. Such leases shall not be subject to the public hearing process, shall not exceed 120 days in length, and shall contain no provisions for optional terms. The resolution approving such a lease may be signed and adopted immediately provided the lease form contains a provision stating that the lease is subject to suspension during the first 30 days after passage of the resolution if a sufficient referendary petition is filed in accordance with section 4.8 of the City Charter. (Ord. 520, 1984; Ord. 610, 1988; Ord. 92-05) Article 4. Encroachments, easements and rights-of-way 7.05.510. Easements and rights-of-way. A. Subject to applicable provisions of the Kenai Peninsula Borough Code, Title 20, Subdivisions, the city manager may, with regard to city land, negotiate and execute rights-of- way and easements not exceeding a term of 20 years. B. The city manager may negotiate and execute the acquisition of rights-of-way and easements necessary for a utility, public improvement or other public use except the city council shall, by resolution, approve acquisitions involving cash considerations or the exchange or real property valued in excess of$50,000.00. C. Any other rights-of-way and easements shall be granted or acquired only upon approval of the city council. D. The city manager may, at the direction of the city council convey, quitclaim, release, cancel, or otherwise relinquish any real property easement, right-of-way, permit or license the city may have or hold for the purpose of installing, constructing or maintaining a public improvement or utility, whenever the interest is no longer used or useful for that purpose. (Ord. 92-05; Ord. 98-05; Ord. No. 2008-018, § 2, 11-24-2008) 7.05.515. Encroachments. A. It is the city's policy not to allow new or unauthorized encroachments into any public right-of- way, land or easement. The city finds that: (i) neither the perpetuation of an existing encroachment beyond the depreciable life of the structure, nor its enlargement, expansion, improvement or extension is deemed to be in the public interest; (ii) all encroachments considered as hazardous, obstructing motorists' line of sight, impeding emergency vehicle access, or impairing snow removal, shall be removed at the earliest available opportunity; and (iii) all other encroachments shall eventually be removed over time. B. The city manager may, after determining that alternatives, including but not limited to, removal of the encroachment or vacating the right-of-way are not feasible alternatives and would not be in the public interest, and where neither public safety nor access is impaired, issue an encroachment permit for the depriciable life of the encroaching structure. 1. No permits may be issued for refuse container racks, towers, sheds, signs or fences; 2. The city may revoke the permit upon written notice of not less than twenty days nor more than six months for the construction, improvement or use by the public of public street, sidewalk, and utility projects; 3. The encroachment may not be expanded, extended, improved or enlarged; 4. Encroachment permit shall require the permittee to: a. Pay an appropriate fee as established by city council resolution; b. Secure and maintain general liability insurance coverage based on appropriate minimum limits as determined by the city's risk manager, to protect, defend and indemnify the city during the term of the permit. The city shall be named as a certificate holder for any structure associated with a personal use single family residence; and as an additional insured party for any structure associated with an activity involving rentals, the sale of goods or services, or any business carried out for profit; c. Maintain the property in such a manner as to protect the public safety and welfare; d. At the expiration of the agreement or permit, remove the encroachment and restore the encroachment site to the surrounding grade leaving it in a clean, safe and stable condition; e. Provide other assurances as deemed appropriate by the manager in order to protect the public interest; and f. Provide an as-built survey completed by an Alaska registered surveyor which clearly delineates all encroaching structures. (Ord. 98-05) 7.05.520. Recording. All easement and encroachment permits including applicable as-built surveys shall be recorded by the permittee in the Seward recording district, third judicial district, State of Alaska. (Ord. 98-05) Article 5. Tidelands 7.05.610. Purpose. These regulations implement, interpret and apply the provisions of the Alaska Land Act concerning use and disposal of tide and submerged lands and related matters and extend to and include the applicable provisions of Public Law 85-303. (Ord. 92-05) 7.05.615. Definitions. For purposes of this article, the following terms shall be defined as follows: Coast line means the line of ordinary low water along that portion of the coast which is in direct contact with the open sea and the line marking the seaward limit of inland waters. Improvements and substantial permanent improvements means buildings, wharves, piers, drydocks and other similar types of structures permanently fixed to the tidelands or contiguous submerged lands that were constructed and/or maintained by the applicant for commercial, recreation, residential, or other beneficial uses or purposes. In no event shall fill be considered a permanent improvement when placed on tidelands solely for the purposes of disposing of waste or spoils. However, fill material actually utilized for beneficial purposes by the applicant shall be considered a permanent improvement. Mean low or lower water means the tide datum plane of the average of the low tides as has been or may be established by the United States Coast and Geodetic Survey. Mean high tide means the tidal datum plane of the average of all the high tides as has been or may be established by the United States Coast and Geodetic Survey. 7 Mean high water line shall be interpreted as the intersection of the datum plane of mean high water with the shore. Occupant means any person as defined herein, or his successor in interest, who actually occupied for any business, residential, or other beneficial purpose, tidelands, or tidelands and submerged lands contiguous thereto, within the city, on or prior to January 3, 1959, with substantial permanent improvements. The holder of a permit of clearance in respect to interference of navigation, or of a special use permit from a government agency will not qualify as an "occupant" unless such entry on the land had, through exercise of reasonable diligence, resulted in actual occupancy and substantial permanent improvements as hereinafter mentioned. No person shall be considered an occupant by reason of having (a) placed a fish trap in a position for operation or storage upon the tide, shore, or submerged land; (b) placed a set net or piling thereof or any other device or facility for taking of fish; (c) placed pilings or dolphins for log storage or other moorage; (d) placed floats or vessels upon the tide, shore or submerged land; (e) placed telephone, power or other transmission facilities, roads, trails or other improvements not requiring exclusive use or possession of tide or contiguous submerged lands; or (f) claimed the land by virtue of some form of constructive occupancy. Where land is occupied by a person other than the owner of the improvements thereon, the owner of the improvements shall, for the purposes of this definition, be considered the occupant of such lands. Occupied and developed means the actual use, control, and occupancy, but not necessarily residence, of the tide and contiguous submerged land by the establishment thereon of substantial permanent improvements. Permit preference means the privilege of the upland owner to acquire first choice over other non-preference right claimants to a permit for like use and enjoyment of city owned tide or contiguous submerged lands abutting his property. Person means any person, firm, organization, cooperative association, partnership or other entity legally capable of owning land or an interest therein. Pierhead line means the line fixed by the Department of the Army Corps of Engineers that is parallel to the existing mean low tide line at such distance offshore from the mean low tide line that the pierhead line shall encompass, landward and no more, all stationary man-made structures (but shall not encompass any part of breakwaters, bridges, or piers used for vessel dockage which part extends beyond such a parallel line marking the seaward extremity of other man-made structures) which were in existence as of February 1, 1957, to seaward of the city. Preference right subject to the established classifications, means and includes the right of an occupant to acquire by grant, purchase, or otherwise, at the election of the occupant, except as otherwise limited or prescribed in these regulations, any tract or tracts of tidelands, or tide and submerged land contiguous thereto, occupied or developed by such occupant on and prior to January 3, 1959. Preference right, Class I means a right claimed by persons who occupied and developed tide and contiguous submerged lands seaward of the city on and prior to September 7, 1957, after executing a waiver to the city and state of all right such occupant may have had pursuant to Public Law 85-303. Upon execution of the waiver, such persons or their successors in interest have the right to acquire such occupied and developed tide and contiguous submerged lands from the city for consideration not in excess of the cost of survey, transferring and conveying of title. Preference Right, Class 11 means a right claimed by Class I Preference Right claimants who decline to execute a waiver to the state and city of any rights such occupants may have acquired pursuant to Public Law 85-303 (71 Stat. 623). It shall be mandatory for the city to honor the application from the occupant after the Secretary of the Army has submitted to the Secretary of the Interior, the Governor of Alaska and the city manager, maps showing the pierhead line established by the Corps of Engineers with respect to the land claimed. Upon 5 proof of such occupancy, such persons have the right to acquire such tidelands and contiguous submerged lands from the city for a consideration not in excess of the cost of survey, transferring and conveying title. Preference Right, Class ill means a right claimed by persons who occupied and developed tidelands and contiguous submerged lands after September 7, 1957, and who continued to occupy them on January 3, 1959. Upon proof of such occupancy, such persons have the right to acquire such tidelands and contiguous submerged lands for a consideration not in excess of the cost of appraisal, survey, administering and transferring title, plus the appraised fair market value of the land claimed, exclusive of any value accruing from improvements or development, such as fill material, buildings or structures. Upland owner means that land owner whose upland property abuts the line of mean high tide. (Ord. 92-05) 7.05.620. Preference to upland owners. Should the city decide to dispose of interest in any tide or submerged land, the city shall grant to the owner of upland property adjacent to said tide and submerged land a first preference to acquire said interest over other applicants/bidders. The upland owner shall be notified by certified mail or by a posting of a notice for three consecutive weeks of his right to exercise his preference. The upland owner shall then have 90 days to exercise this preference under this section. If the preference is not exercised by the upland owner, then the city may dispose of the tide and submerged land to others. It shall not be required that the city offer its tide and submerged lands for disposal should the city determine that it is not in its best interests to dispose of such land. The city may itself make such use of its tide and submerged lands as it may consider in the public interest without offering the tide and submerged lands to others. (Ord. 92-05) 7.05.625. Preference right application. An occupant claiming a class I, class II, or class III preference right may apply for preference rights within two years from the effective date of the ordinance adopting these regulations. Any preference right for which an application is not filed within this period shall be forfeited. Completed applications shall be submitted to the city manager on forms supplied by the city. (Ord. 92-05) • Adjust local regulations, where appropriate, to encourage development in international commerce consistent with the community vision. 3.1.2. Increase public sector employment and programs. 3.1.2.1 Support existing public institutions in their effort to maintain, expand and develop. • Continue to advocate on behalf of the University of Alaska in their efforts to expand the Institute of Marine Science (IMS) facility. • Continue to advocate the Department of Corrections and Alaska State Legislature to expand the Spring Creek Correctional Center (SCCC). • Continue to advocate for the growth of the Alaska Vocational Technical Center (AVTEC). • Continue to support external funding for the Alaska SeaLife Center (ASLC). • Seek stable funding to maintain the District Recording Office in the Seward location. • Support existing public institutions in their efforts to maintain, expand and develop. • Support the concept, fundraising activities and construction of a new library/museum facility intended to combine, update and expand the programs and services of the Seward Community Library and the Seward Museum. 3.1.2.2. Encourage and assist in the development of new public services and facilities. • Support construction of the Multi-Agency Facility which is to include: National Park Service, US Forest Service, Alaska State Parks, and the University of Alaska. • Encourage the appointment of a superior court judge, and construction of a courthouse/public safety building in Seward. • Encourage additional military facilities that upgrade Seward as a Morale Welfare and Recreation (MWR) destination. c 3.2 LAND USE y l 3.2.1 Promote residential and commercial development within the city of Seward and its vicinity in accordance with community values. 3.2.1.1 Manage land use to facilitate economic development while maintaining the historic, small town character of Seward. 2020 SEWARD COMPREHENSIVE PLAN VOL.I 2005 /C" • Use city-owned land and tidelands to encourage feasible and sound economic development by setting development standards and performance periods through the leasing process. • Evaluate for disposal city-owned lands which have not or will not be dedicated to a public purpose. • Develop infrastructure and utility expansion plans for currently undeveloped residential and commercial property, including ways to reduce service costs once operational. • Evaluate ordinance requirements and provide incentives for property owners that balance economic development with design that is compatible with the historic character of Seward, and provides amenities such as landscaping and adequate parking. • Ensure uniform and consistent enforcement of the zoning code, building code, subdivision ordinance, and city lease agreements, and evaluate potential code changes to make enforcement easier. • Improve methods of communicating and achieving development requirements in each zoning district by preparing information packets that include: construction permits, code requirements, and means of minimizing pollution and drainage problems; and by streamlining the plan approval and building inspection processes. • Revise the Resource Management District to require rezoning before development for residential, commercial or industrial use. • Evaluate reducing the number of zoning districts by combining Urban Residential and Office Residential. • Make code changes to allow more reasonable rebuilding of non- conforming uses after fire or other significant damage or allow expansion of non-conforming uses to a limited extent. • Support the on-going dialogue with the Alaska Railroad Corporation and the State of Alaska regarding the status and disposition of their undeveloped lands. • Find land suitable for cemetery expansion. • Research Conservation options for environmentally sensitive areas. 3.2.1.2 Expand the opportunity for affordable, diverse, year-round housing through appropriate land use regulations. • Promote infill development by cf,: -� +•. promoting housing construction on small vacant lots in already 2020 SEWARD COMPREHENSIVE PLAN VOL.I 1n 2005 / INTRODUCTION Public lands are a finite community asset held in trust. This document addresses the city's land asset holdings and needs. The 1985 Seward Comprehensive Plan.(Item 11 page 10) calls for the city to treat city-owned properties as "opportunity areas" for special development,where the public benefit can be well demonstrated. The issues related directly to the management of city owned lands are numerous. * Land management decisions are being made without a full knowledge of city owned lands. * How should the city determine a fair return to the community for the use of public lands? * City lands such as the city shop and Boulder Field are not used at their highest and best use. * How should funds from the disposal of public lands be used? * The city has not completed it's selection of state entitlement lands. * Do we have sufficient lands to accommodate future public facility and transportation needs. * Is the city taking greatest advantage of its land as a source of direct and indirect revenues? Whereas the Land Use Plan segment of the Comprehensive Plan is the primary tool to ensure quality community land use arrangements,this Municipal Lands Management Plan becomes a component that will provide an action guide specifically for the management of city-owned lands. This goals of the plan are to: *Provide an inventory of city owned lands,describing their present and proposed uses *Assist in establishing a successful land management program through the identification of *city lands surplus to public needs land acquisition needs for future public facility development * lands for economic development *Assist in implementing the Seward Comprehensive Plan GENERAL PROVISIONS hroughout this document, land parcel`s are cei'erencett by Maps 1 through 5 anct parcel niumbe►s.far example,"Wap l 2 refers to parcel number 2an Yap number City Code. Seward City Code(SCC) Chapter 7.05 is the basis for all municipal land transactions, and defines"Real Property"as an estate or holding in land including tide and submerged lands,or improvements thereon. Fair Market Value. SCC 7.05.140 states that unless otherwise found to be in the public interest, the city may not dispose of any real property interest without first making an appraisal of the fair market value. Fair market value is defined as the highest price,described in terms of money,which the property would bring if exposed for sale for a reasonable time in the open market, with a seller, willing to buy, both being fully informed of all the purposes for which the property is best adapted or could be used." Once that appraised fair market value is determined,the property may not be sold for less than that amount without a finding in the public interest by the City Council. Nominations. Although this plan will identify lands for disposal through lease or sale, City Resolution 94-101 outlines procedures for the nominating public lands for disposal. This procedure allows individual entrepreneurs to make recommendations for specific lands without revealing their particular development plans. Municipal Lands Management Plan May 8 1995 1 IZ aa► f75"- generally— used only as a last resort after other acquisitiOtrtirorts have failed. The only instance of this in recent city records involved the first half mile of the Nash Road extension. Tax/Lien Foreclosure. Over the years,much of the land that is now Two Lakes Park,Gateway Subdivision and the Crawford Subdivision was acquired through tax foreclosure. State statutes require that tax foreclosed property within the city limits be deeded to the city. It gives the city the opportunity to declare by ordinance whether a foreclosed property is needed for a public purpose. If so, all redemption avenues by the former owner are closed.If property is not needed for a public use,the former owner has first right of redemption for up to 10 years.Any funds over and above taxes,penalties,interest and administrative costs gained from the sale of tax foreclosed property are made available to the former property owner. Although it has not been done in recent history, the city could acquire land through foreclosure on liens against utility improvement district property assessments, Purchase. Many of the city's parcels have been purchased from private land owners.Notable examples include the Lowell Point sewer lagoon site,as well as lands and easements along the city's power transmission line.Such purchases are generally based on a fair market appraisal value.Normally funding for such purchases is on a cash available basis from appropriated funds. Trade/EXChange. The city has acquired some lands through trades with private and public sources such as Two Lakes Park lands from the University of Alaska(UofA)for a longer lease term and vacation of the 1st Ave.right of way at the Institute of Marine Science(IMS)facility,and the transfer/landfill and elementary school sites to the borough for 4th of July Creek lands. cf DISPOSAL SCC 7.05.115 defines "disposition" as the transfer of city interest in real property by iC warranty or quitclaim deed, easement, grant, permit, license, deed of trust,mortgage, contract of sale of real property,plat dedication,lease,tax deed,will,or other lawful method or mode of conveyance or grant. Sale. Arta conducting a public hearing,City Council may approve the negotiated,sealed bid or public outcry auction sale of public property. The sale price or minimum bid price must be at fair market value unless otherwise found to be in the public interest by the Council.The sale of land converts a capital asset to cash which accrues to the city's general fund or one of the enterprise funds. It may then be appropriated through the budget process to many different uses. There has been increasing discussions about establishing a Land Bank fund in which the proceeds for land sales would accrue for the acquisition of future municipal lands,thereby benefiting present and future citizens and promoting the orderly development and achievements of the goals of the • Comprehensive Plan. Recommendation: Establish a Land Bank where funds acquired from the sale of surplus property accrue to a special account for acquisition of other needed lands. Lease. The city has leased lands for many years with the oldest current lease dating from 1955. City • Council Resolution 94-101 established the most recent policy and procedure relating to the lease of public lands. The essential terms and conditions of city leases generally include length of the lease,rental rate, and development requirements.With the exception of those to the state or federal government,all leases require proof of liability insurance naming the city as an insured party. Leases are allowed to be assigned or sublet with written city consent.A condition of any sublet consent is that the city receive a copy of the sublet agreement including the rental value. This information is important to the city in the development of fair market land values. Although the Comprehensive Plan suggests that the city continue to dispose of commercial and industrial public Municipal Lands Management Plan May 1995 3 • li (3 11 41 !1; j. 1 land through long term leases rather than sale,lessees continue to lobby for the fee simple transfer of their sites. w • Although the sale of these lands would generate a large one time cash infusion to the city, it would have a 'I cl significant long term adverse impact on annual city budgets. Lease revenues currently generate in excess of i.Y X330,000 a year; and this amount generally increases over time due to periodic appraisal adjustments and new '' leases. These lost revenues would have to be offset in some manner in the budget process. Preliminary evaluations of interest that might be earned from the deposited projected lease site sale income show that it will • not replace lease income revenues. Recommendation:Reaffirm the Comprehensive Plan by continuing to .': dispose of commercial and industrial lands through long term leases rather than sale. 1 City lands are normally leased at fair market rental rates based on a percent of fee simple land value. The City , uses an 8%rate. Reviews of other community and public agency lease policies show that this rate varies from ill 6% to 10% throughout the state. The lower rates appear to apply where there is strong desire to encourage 1 1 development and higher rates where the demand for land is high.In Seward,there is an exceptionally high demand i 9 for land in the small boat harbor where there are no vacant lands available for lease. On the other hand the city ' is trying toencourage development at the Seward Marine Industrial Center. Recommendation: Consider using different rental percentage rates to reflect supply and demand on various city land areas ie. the Seward Marine Industrial Center where land is available and development is encouraged and the Small Boat Harbor where land is in short supply and high demand l 1 1. Trade/Exchange. The city has acquired substantial acreage through land trades with both public ;';. 1 agencies and private individuals. Most of the bench lands above Nash Road and in the Fourth of July Creek i i valley were acquired through trades with the Kenai Peninsula Borough for the solid waste site and the elementary ix school site. I RIGHT OF WAYS, ENCROACHMENTS, and EASEMENTS •I 1 Right of Ways. While they normally do not convey any warranty or title interest and are not G i considered real property under general accounting procedures, they are a part of the city's overall land management efforts. These are lands acquired by reservation, dedication, forced dedication,prescription, or condemnation and intended to be used for public access, roads,trails,parking,and utilities. They are normally j dedicated to the public during the subdivision platting process, and there is usually no deed transferring N i ownership.They generally fall under the management authority of the local municipality providing road services. All right of ways within the city are under city jurisdiction, except for Third Avenue/Seward Highway, Port I Avenue,Airport Road and a smallportion of Nash Road which are state. The city is responsible for 28 miles 11 of developed dedicated right of ways (streets and alleys). Another three (3) miles are dedicated through 1 subdivision plats,but have never been constructed. These are in the Marathon,Cliff,Bayview and Forest Acres i Subdivisions. There are platted right of ways which will never be developed or used because of topography and there are additional right of ways that the city should plan for in the future. Recommendation: 11 E a) Vacate otherwise undevelopable right-of-ways to enlarge and/or consolidate adjacent lands. b)Plan right of way acquisition to: Aq- I) connect Hemlock Avenue and Phoenix Road as an alternate exit from Gateway Subdivision and collector street for the undeveloped portion of Forest Acres and the land north and west '-; of the two schools. (map 3-22). t 2) extend Chamberlain Road above the horse pasture to Phoenix Road provide an alternate :j parallel route to relieve pressure on the Seward Hwy(map 3-23). 3) extend Benson Drive through from Swetmann Dr. to Phoenix Road to provide a safer j school bus route and an alternate egress from Gateway Subdivision. (map 3-19) 1 Municipal Lands Management Plan May 1995 4 111 Sponsored by: Imes CITY OF SEWARD, ALASKA RESOLUTION NO. 94-101 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, APPROVING A POLICY FOR NOMINATING PUBLIC PROPERTY FOR DISPOSAL WHEREAS, the city regularly receives unsolicited proposals to lease city land; and WHEREAS, the city has no written policy regarding the identification and nomination of public lands for disposal; and WHEREAS, it is in the public interest to adopt such policies; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, that: Section 1. City of Seward Lease Policies and Procedures, a copy of which is attached and incorporated herein by reference, is hereby ADOPTED. • Section 2. All prior resolutions in conflict herewith are hereby RESCINDED. Section 3, This resolution shall take effect immediately upon its adoption. PASSED AND APPROVED by the City Council of the city of Seward, Alaska, this 8th day of August, 1994. THE CITY OF SEWARD, ALASKA Dave W. Crane, Mayor AYES: Anderson, Bencardino, Crane, Krasnansky and Sieminsld NOES: Darling ABSENT: O'Brien ABSTAIN: None • /5 CITY OF SEWARD, ALASKA RESOLUTION NO. 94-101 ATTEST: APPROVED AS TO FORM: Wohlforth, Argetsinger, Johnson &Brecht, Attorneys for the city of Seward, Alaska ellk-Li .1 A I ao„C/1) . S. rph , CM /• • City Attorney City Clerk (City Seal) It•, City of Seward, Alaska • Lease Policies and Procedures PROCEDURES FOR NOMINATING PUBLIC LANDS FOR LEASE The following procedures have been adopted by the Seward City Council to allow the public to nominate city owned lands not otherwise designated as available for lease development: A. Any person may make written nomination to the City Council for the city to dispose of public lands without divulging specific development ideas or purposes. B. If requested by the City Council,city staff will research and prepare a report on titles, covenants, deeds, zoning, land use planning, other land restrictions, and any planned public uses associated with the nominated lands. C. The Planning and Zoning Commission will review and make a recommen- dation to the City Council regarding the pros and cons of disposing of the nominated parceL • D. The City Council will hold a public hearing on the disposal of the nominated property and,by resolution, will make a determination as to whether or not to dispose of the nominated lands. If the City Council finds that it is in the public interest to dispose of the nominated lands, the resolution shall specify the method of disposal,i.e., lease, sale,negotiation, bid, or request for proposals. E. If the City Council finds it in the public interest to lease the nominated land, the City Manager shall proceed with the disposal process following polices and procedures outlined in the City Code and this resolution. LEASE PROPOSAL POLICIES AND PROCEDURES The following procedures have been adopted by the Seward City Council to guide prospective lessees and the city administration in handling proposals on city-owned lands designated for lease disposal A. The prospective Lessee shall submit to the City Manager a written development plan, including a conceptual site plan, building elevation drawings, a construction schedule, and proof of project financing. B. The lease development proposal shall be submitted to the Planning and Zoning Commission at their next regular meeting, for review and written recommen- City of Seward,Alaska Resolution No. 94-101 Attachment A Page 1 I .7 dations, including any special lease conditions the Commission determines to be in the public interest. C. The proposal along with written Planning Commission and staff comments and recommendations shall be submitted to the City Council, at the next regularly scheduled meeting, subject to agenda deadlines. D. Not later than 30 days following presentation to Council, the City Council shall determine whether it is in the public interest to proceed with lease negotiations. E. Upon directing the administration to proceed with the lease negotiations, the prospective Lessee shall, within 30 calendar days, deposit with the city a cash performance bond in an amount not less than one-half the first year's lease payment as estimated by the city administration. 1.. If the prospective Lessee does not diligently pursue lease negotiations within 60 days of the date that the Council consents to the commencement of said negotiations, the entire performance bond shall be retained by the city as liquidating damages. 2.. If the city and the prospective Lessee reach an impasse and are unable to come to terms on a lease agreement, the performance bond shall be returned to the prospective Lessee after deducting lease document preparation costs incurred by • the city. Such costs shall indude, but not be limited to, appraisals, attorney and actual staff costs, advertising and other incidental expenses. F. If the city and the prospective Lessee reach an agreement on lease terms, the lease documents shall be signed by the prospective Lessee, approved as to form by the City Attorney and forwarded to the City Clerk Once the Clerk receives the properly signed lease agreement,a public hearing will be advertised and held in accordance with provisions of the Seward City Code, and the lease agreement will be presented to the City Council for action. G. If the proposed lease is approved by the City Council, the resolution approving the lease and the lease agreement shall be posted for thirty days as required by the City Code. Barring the filing of a sufficient referendum petition to set aside the lease, the lease shall then become effective 30 days after passage and posting. Once the lease agreement becomes effective, the city shall deduct from the performance bond all lease preparation costs incurred by the city, including but not limited to appraisals, attorney and staff time, advertising and other incidental costs. The remainder of the performance bond, if any, shall be credited towards the rents due, and the Lessee shall be billed in accordance with the city's quarterly lease billing cycle. • City of Seward,Alaska Resolution No.94-101 Attachment A Page 2 Is H. In the event the City Council fails to approve the lease agreement within • 60 days of the date the negotiated lease agreement is first presented to the City Council, the total cash performance bond shall be returned to the prospective Lessee. I. The City Council may waive any or all of these requirements as it deems necessary to ensure successful completion of the lease negotiations. LEASE ADMINISTRATION POLICIES AND PROCEDURES The following procedures have been adopted by the Seward City Council to guide lessees and the city in the fair conduct of business associated with lease administration: A. Fees set by resolution of the City Council will be assessed to cover administrative time, copying costs, phone calls, postage, legal notices and other costs associated with processing all lease assignments,amendments,and sublet consent actions requested by lessees. Additionally, lessee will pay all recording fees and will reimburse the city of city attorney time in connection with the requested action or actions. B. Lease assignments and sublet consent requests will be reviewed,processed and approved as administrative functions subject to: 1. All taxes (real, personal and sales), utilities, lease payments, assess 0 ments, licenses and insurance must be current. 2. All appropriate fees must be paid in advance. 3. City sublet approval will not be required for individual tenant space rentals in buildings designed with separate retail and office spaces. 4. Following evaluation and administrative determination,the city may require a personal guarantee by lessees requesting assignments to corporations which are principally owned by lessee and created for tax and liability purposes. 5. Each sublessee must provide proof of insurance in accordance with the principal lease, naming the city as an insured party. 6. The city must be provided a copy of any sublet agreements,including lease amounts,so that the city may forward this information to city appraisers for future fair market value determinations. Copies of the sublet agreements, including lease amounts, will be provided to the City Council at the next regular Council meeting. C. Amendments to leases that change the essential terms and conditions(lease rate, term, land area, or development conditions) may be approved only by resolution of the City Council. Such requested amendments will be scheduled for Council action • only after the following terms have been met: City of Seward,Alaska Resolution No. 94-101 Attachment A Page 3 H 1. All taxes (real, personal and sales), utilities, lease payments, assess • ments, licenses and required insurance must be current 2. All appropriate fees must be paid in advance; and 3. The lessee's signature(s)must be in place on all required documents. • 1 ill City of Seward,Alaska Resolution No. 94-101 Attachment A Page 4 63) • Cost-Benefit Analysis Lease is Preferred over Sale Parcel Valuation Summary KPB Assessed and MacSwain Appraised Values City of Seward Harbor Uplands Property Lease versus Sale Discount Rate Summary Cost-Benefit Analysis Impact of Various Assumed Interest Rates July 27, 2002 Lease versus Sale Alternatives Examines 20-Year or 40-Year Lease, and Sale Projected Property Taxes Estimates taxes under sale or lease scenarios Projected Lease Revenues Assumes land continues to be leased, not sold Individual Parcel Information Results of MacSwain Associates 2000 Appraisals i[ MEMORANDUM f-,4 Date: July 27,2002 V To: Scott Janke,City Manager NI—ASO From: Kristin Erchinger,Finance Director 1'r Subject: Harbor Upland Properties Lease vs.Sale-Cost Benefit Analysis The following information presents the findings of the cost-benefit analysis of the harbor upland property lease versus sale. This study updates the analysis conducted in January, 1998,utilizing Kenai Peninsula Borough property assessment values from 2000, and March 2000 property appraisal values computed by MacSwain Associates. The purpose of this analysis is to determine whether it is in the City's financial interests to sell the harbor upland properties,or to continue leasing the properties. The three alternatives examined include: 1)a 20-year lease of the properties;2)a 40-year lease of the properties;and 3)sale of the properties to taxable entities in the private sector. Summary of Findings The study concludes that it is in the City's financial interest to maintain ownership of the harbor upland property rather than to sell. The financial justification in favor of leasing the properties is even more compelling at this time than it was in 1995, when the issue was first studied. This is due to the fact that while the appraised value of the subject properties increased 49.9%from 1995 to 2000(from$984,000 to$1,475,000),the KPB assessed value of the land increased 42.7% (from $587,000 to $837,800) and improvements increased 77.9% (from $2,707,400 to $4,8I6,400). Thus,annual lease revenues for these parcels increased$39,280($491,000 appraised value increase x 8%),and annual property tax revenues increased approximately$7,360. Rn mdari .c of Analysis The study was limited to examining the direct costs and benefits associated with the three alternatives listed above. It does not consider the impact of potential indirect costs or benefits such as economic benefits derived from private ownership,the loss of higher or better uses of the land,or potential increases in property tax revenues resulting from the increased value of improvements made to the properties. The administration may want to consider these potential indirect factors in a second-cut analysis,before making a final decision. Assumptions Cost-benefit analysis is a tool which allows policy makers to evaluate the consequences of alternative public investment decisions. Such analysis however, is highly dependent on the assumptions made in the analysis. The choice of assumptions is important,because the inclusion or exclusion of certain assumptions can have a substantial impact on the results of the analysis. The assumptions included in this analysis are as follows: Assam tianc unique to I oaco AlternnN y -. Property taxes are based on the Kenai Peninsula Borough (KPB) 2000 assessed property values. Improvements are taxed by the Borough at full value,but the value of the land is discounted based on the remaining term of each particular lease. For shorter-term leases, the taxable value of the land is much lower, as the lessee is considered to have less of a possessory interest in the land. For longer leases,the lessee is taxed on a higher percentage of the fee value of the land. Generally,KPB assesses land leased from a government agency at a lower value than privately-owned property. -. Annual lease revenues are based on 8%of the 2000 market value appraisals. oak Harbor Upland Properties Lease vs.Sale-Cost-Benefit Analysis Page Two Assumptions unique tnl nse Alternativec.rnntinued -. For the purpose of estimating property tax revenues,land values are assumed to increase 5%per year, but the value of property improvements does not change. -. Properties are re-appraised every 5 years;appraisal cost to City is$1,500 per parcel. -. Cost to City of administering each lease is$250 per year. Assumptions unique to.Sale Alternative -. If the properties are sold, property taxes are based on the 2000 appraised market values of the properties,as determined by MacSwain and Associates(see Appendix). -. Properties are sold at 115%of the 2000 KPB assessed value. -. For the purpose of estimating property tax revenues, the value of land and property improvements increases 5%per year. -. Cost to City of selling each parcel is$2,000. A.ttumptinns.thnred h;si all alternatives -. Property tax mill rate remains at 3.12 mills(the current mill rate). -. Benefits(i.e.lease revenues)accrue at year-end. -. Net present value(NPV)is computed in present dollars. Emendate The steps used to conduct this analysis included: 1) formulating alternatives, 2) estimating the costs of each alternative, 3) estimating the benefits of each alternative, 4) discounting the costs and benefits to their present value,and 5)selecting the best alternative. Selecting the best alternative—in terms of costs and benefits—requires determining which alternative has the highest net present value(NPV)of future cash inflows and cash outflows. A positive NPV indicates that the benefits of a project outweigh the costs associated with it. In my assessment,each alternative yields a positive NPV,suggesting that all alternatives have a net positive benefit to the City. However, a comparison of the three alternatives suggests that a 40-year lease of the harbor upland properties yields a higher net benefit to the City than either the 20-year lease option or the sale of the properties. r)iccnuns ate A comparison of the net present value of the alternatives requires selecting an appropriate discount rate. The discount rate is intended to reflect the rate of return that could be earned from an investment of similar risk. The choice of discount rates is important because it often has a significant impact on which of several alternatives is optimal. Historically,many government projects are evaluated using a very low discount rate such as the 20-year municipal bond rate (i.e. 4, 5 or 6%), since that is thought to approximate the cost to a government of borrowing funds. There is a"fairly broad consensus both inside and outside the public sector however,that rates more realistically reflecting opportunity costs should be used. Accordingly, in recent years, the Office of Management and Budget of the federal government has frowned on the use of discount rates lower than 10 percent per year for the evaluation of public programs."1 A related argument suggests that since public projects are funded from private sector resources, it is appropriate to select a discount rate approximating the private sector's cost of borrowing. Such a discount rate considers the opportunity cost of funds in the private sector of Truett,Lila and Dale,"Managerial Economics",p.647. z3 Harbor Upland Properties Lease vs.Sale-Cost-Benefit Analysis Page Three Sensitivity Analysia A sensitivity analysis was conducted to determine the extent to which the discount rate affected the outcome of the analysis. An examination of discount rates ranging from 6% to 18%revealed that the analysis is not sensitive to the discount rate up to 15.9%;at all rates below this rate,the 40-year lease is preferred to the 20-year lease,which is preferred to the sale. The discount rate of 15.9%represents the switch point;at this point the order of preferred alternatives changes and while the 40-year lease is still the preferred alternative, the sale is now preferred to the 20-year lease. At a discount rate of 17.7%and above(the pivotal switch point in this analysis),the sale alternative is now preferred to both the 40-year and 20-year lease alternatives. What exactly does this mean? It means that in order for the sale to be the preferred alternative,the City would have to be able to invest the proceeds of the sale in an investment vehicle yielding at least 17.7%. These NPV results are summarized as follows: NPV of 40-year lease and 20-year lease > Sale up to discount rate of 15.9% NPV of 40-year lease > Sale > 20-year lease at 15.9% NPV of Sale > 40-year lease > 20-year lease at 17.7% Figure 1:Sensitivity Analysis of Discount Rates Cram 6%-22% 40-Year Lease is preferred to Sale up to 17.7%discount rate . F�Kir 4 - .�.. . ,G ti• 3,500,000 'yam a. = • ' s s� tis`:si: •Y 3,000,000 0 tit`a 4 2,500,000 t r_ • ` „, .. 14.; C al �Srt' '' + N F. 7.Ali'-4.10 2,000 000 Y . •' u 1� 4413' a Z ;,,,.rte-`f•• - 1,500,000 . S - « 3 ... • 500,000 �+-✓ 6% 1% 10% 12% 14% 16% 15% 20% 22% • Discount Rate —Alt 1-20-yr lease -Alt.2-40-yr lease AN.S-Sal.1 • Harbor Upland Properties Lease vs.Sale-Cost-Benefu Analysis Page Four The following table highlights the preferred alternative — the alternative with the highest net present value—at each discount rate: 10% 15.8% 15.9%* 17.6% 17.7%** Alternative 1-20-yr lease 1,473,055 974,246 968,132 873,202 868,106 Alternative 2-40-yr lease 2,005,003 1,090,848 1,081,749 946,052 939,053 Alternative 3—Sale 1,098,728 972,833 971,113 943,558 942,029 * Switchpoint-Represents the point at which the order of preference changes,and the sale is now preferred to the 20-year lease. ** Pivotal switchpoint-Represents the point at which the sale is now preferred to a lease. A sensitivity analysis of the sales price of the properties suggests that the analysis is not highly sensitive to a reasonable range of the sales price. In fact,for the sales price to make the sale alternative more appealing than either of the lease alternatives(at a 10%discount rate),the City would have to sell the harbor upland properties for 234%of their 2000 KPB assessed values. It is important to note however,that the combined 2000 KPB assessed values for these properties is$837,800,while the 2000 appraised values total$1,475,000(an increase of$637,200 or 76%). Therefore,a further sensitivity test was conducted to determine the pivotal switchpoint of a range of sales price based on the appraised values rather than KPB assessed values. In this test,in order for the sale to be preferred to either lease option,the properties must collectively sell for approximately 133%of their 2000 values as appraised by MacSwain Associates. Sensitivity tests of the other variables in this analysis (e.g.property tax rates, land value increases,appraisal costs,lease administration costs)are ancillary to the overall lease versus sale decision. Conclusion In conclusion, the results of the cost-benefit analysis --given my assumptions-- suggests that at any discount rate less than 17.7%,it is in the City's interest to lease the harbor upland properties for a 40-year term(or even a 20-year term below 15.9%), rather than to sell the properties outright. Of course, there are other factors to consider in making this decision, such as indirect costs and benefits, potential higher and better uses of the properties, administrative feasibility, analyzing alternative assumptions, and political viability. Based on this cost-benefit analysis alone however, the City is better off maintaining ownership of the harbor upland properties. 6 Harbor Upland Properties - Cost Benefit Analysis Table 1: Parcel Valuation Summary • KPB KPB MacSwain Annual Assessed Value Assessed Value Market L ase Rate Annual City Parcel of Land of Improvements Value as%of Lease Property ID Lessee (Li) (a) (b) Market Value at 8% Taxes 1-17 Mark Clemens 129,300 604,700 250,000 8.00% 20,000 2,290 1-21 Orca Enterprises 145,100 486,200 225,000 8.00% 18,000 1,970 1-19 Charles Bald 31,600 85,800 100,000 8.00% 8,000 366 1-20 Juris Mindenbergs-Sublet 108,900 141,000 175,000 8.00% 14,000 780 1-22 James Pruitt 126,500 761,100 225,000 8.77% 19,741 2,769 1-23 Dot Bardarson 29,800 271,900 50,000 8.00% 4,000 941 1-24 Linda Lorz 29,800 71,900 50,000 8.00% 4,000 317 1-18 Juris Mindenbergs 236,800 2,393800 400,000 8.00% 32,000 8,207 837,800 4,816,400 1,475,000 119,741 17,641 (a) Source: Kenai Peninsula Borough 2000 property assessments (b) Source: MacSwain Associates 2000 City of Seward property appraisal City of Seward-Harbor Upland Property-Cost Benefit Analysis-Lease vs Sale V. • Harbor Upland Properties - Cost-Benefit Analysis Table 2: Discount Rate Impact on Net Present Value Total Order of Discount Net Present Preference Alternative* Rate Value 1 40-year lease 6.00% 3,701,028 2 20-year lease 2,088,591 3 Sale 1,233,471 1 40-year lease 10.00% 2,005,003 2 20-year lease 1,473,055 3 Sale 1,098,728 1 40-year lease 14.00% 1,281,871 2 20-year lease 1,096,085 3 Sale 1,005,956 1 40-year lease 15.80% 1,090,848 2 20-year lease 974,24.6 3 Sale 972,833 1 40-year lease 15.90% 1,081,749 2 Sale 971,113 •Switchpoint 3 20-year lease 968,132 1 40-year lease 17.60% 946,052 2 Sale . 943,558 3 20-year lease 873,202 1 Sale 17.70% 972,029 **Pivotal Switchpoint 2 40-year lease 939,053 3 20-year lease 868,106 * Switchpoint-Represents the point at which the order of preferred alternatives changes. ** Pivotal Switchpoint-Represents the point at which the sale is now preferred to a lease. City of Seward-Harbor Upland Pi y-Cost Benefit Analysis -Lease vs Sale 2:7 Schedule At Alternative 1: 20-year lease Asraaaptions: pyrone raw 10.00% Ptoperty to mill rua 0.00312 Amami lout tedruseance cams 5250 Lad tau market value Macau per year S.00% Inpco'a,nen,fair marts atm increase!yr 0.00% lane rem is a%of appraised land value Leases re-eppaleed Baas $yeah beginning 2005 • Land vales 6raearu refected sera has nerved Appraisal cad 51.500 Yaw I Is 2007 NPV compnmd in current dollar* Bendier(ixlust rewcal surae et year-ad 2003 BENEFITS: Year I • 2 3 4 S 6 7 8 9 10 11 12 13 Lease reunion 118,000 118,000 118,000 136,600 136,600 136,600 136,600 136,600 174,340 174,340 174,340 174.340 174,340 Property taxa 17,641 17.862 18,000 18,144 18,295 18,454 18,621 18,796 18,980 19,173 19,375 19,588 19 812 Aral Benefits 135,641 135.862 136.000 154.743 154.895 155.054 155.220 155.395 193,319 193,512 193.715 193,928 194,152 PV of Annual Benefits 123.310 112,283 102.178 105,692 96,177 87,524 79,653 72,493 81,986 74,607 67,896 61.791 56.239 COSTS: 0 0 0 1500 1 X00 0 Appraisal every 5 years AIWA ContractidmiaifUnljon 250 250 250 250 250 250 250 250 250 250 250 250 250 Annual Costs 250 250 250 1.750 250 250 250 250 1,750 250 250 250 250 PV of Annual Costs 250 250 250 1,750 250 250 250 250 1,750 250 250 250 2.50 Annual Net Present Value(PV Ben-PV Cost) 123,060 112,033 101.928 103.942 95,927 87.274 79.403 72,243 80,236 74,357 67,646 61.541 55.989 BENEFITS: Year 14 15 16 17 18 19 20 Lease revenues 222.507 222,507 222,507 222.507 222.507 283,981 283,981 Property taxa 20,047 20,293 20,552 20,824 21,109 21,408 21,723 Annual Batefiu 242,553 242,800 243.058 243.330 243.615 305,389 305,704 PV of Total Benefits 63,872 58,124 52,897 48,142 43.816 49,934 45.441 COSTS: Appraisal every 5 years 1.500 0 1,500 Annual contract administration 750 250 250 250 250 250 250 Annual Costs 1,750 250 250 250 250 1.750 250 PV of Annual Cow 1,750 250 250 250 250 1.750 250 Annual Na Present Value(PV Ben-PV Cat) 62,122 57.874 52,647 47.892 43,566 48,184 45,191 PV of Total Benefits 1,484,055 PV of Total Cats 11.000 Total Net Present Value $1,473,055 Property Value at end of 20 yr lease 52,222.933 City of Seward-Harbor Upland Property-Cott Benefit Analysis-Lease vs Sale • Schedule B: Alternative 2: 40-year!ease Amor,Own: a3...sr err 1000% Pos rty as soll n. 000312 ala•/I..iml+mio.r. 5136 Lama W swim wins lmoamoss r yr. 300% 1.^r_.W swine ria gyp. 093% • Lore trr 1Siker spriviod W who Later m1rd.4 every 3 rare eagles*X03 Lai value ImamsWW mee I is nrad Asrid tae 11306 Yee,1 le 7063 NPV a.t/rd I nab 4.{rs S.A.(la 4 r••I.I.tm.r r yar+J MENerrn: Yeer I 2 3 4 3 6 7 8 9 10 11 12 13 14 13 16 Lease eevmues 118,000 111.000 111.000 136,600 136,600 136.600 136.600 136.600 174.340 174.340 174.340 174.340 174,340 222,307 222.507 222.507 Property Lusa 17,641 17.862 16,000 18,144 16,293 19,434 1421 14,796 18980 19,173 19,373 19,388 19,812 20,047 20,293 2052. Anneal Benefits 135,641 133.862 136,000 154.743 154.893 155.054 135.220 155.395 193.319 193.512 193,715 193.921 194152 342.553 242.800 243,059 PV of Annual 13e690m 123,310 112.283 102.171 105.692 96.177 . 17324 79,653 72,493 11,946 74.607 67,896 61.791 56,239 63.372 51,124 52,197 Appraisal eery 3 ran 1300 1.300 1300 Annual casino dnialatrrim 230 250 230 250 230 230 250 230 230 230 254 730 254 250 250 250 Annual Co.0 250 230 230 1.750 250 230 230 250 1150 230 250 250 250 1.750 230 230 PV of Annual Coat 230 230 230 1.750 230 250 230 250 1.750 250 230 250 250 1.750 230 230 Amid Net Preat Value(PV Ben-PV COs0 123,060 112.003 101.921 103.942 95,927 17,274 79,403 72,243 80.236 74.337 67.646 61.341 33.989 62,122 37,174 52.647 ler.�Irr.: Year 21 22 23 24 25 26 27 21 29 30. 3) 32 33 34 35 36 Eerie mosses 213.981 283,981 183.981 362,440 362.440 362,440 362,440 362,440 462.375 462373 462375 462.375 462,575 590,376 590,376 590.376 P.cs,sny Wei 22,053 22,400 2;764 23,14 33348 23,969 24,412 2.4,677 25,363 75,177 26,415 26,940 27373 21,196 28,830 29,336 Anna/Benefits 306.034 306.311 306,743 383,516 315.911 316,409 386,153 317.316 417.940 418.452 498,990 419.333 490.148 618372 619.226 619.912 PV of Amus Benefits 41,335 37.638 34,237 39,147 35.623 32.422 29508 26.951 30,759 27.992 23.476 23,187 21.104 24,212 22.033 30.034 Appraisal evay 3 years 1.300 1300 1.500 Annul manna alydoifaaion 250 250 250 230 230 250 230 230 250 250 230 250 250 250 250 250 Animal Costs 250 350 250 1750 250 250 250 230 1750 130 250 250 250 1750 250 250 PV al Aaetlal Com 250 250 250 1330 250 130 250 250 1.750 230 250 250 250 1.730 250 230 A%l l Net P,eaea Vale(PV Bene-PV Cos4) 41,105 37,381 34,007 37.397 35,375 32,172 29.258 26.608 29.009 27,742 25,126 22,937 20,854 22.462 21.715 19,804 y, Taut PV 211BcmeI1u 2.017.003 Tani PV of Costs 22,000 Toni Nr1 Pressl4 Value 1.005,005 Property Valuer end of lease 5,998.103 41 City of ScwErit•Naber Ilplat4 Property-C40 Benefit Aaalyals-lam:a Sale • • N Schedule C: Alternative 3: Sale of land to taxable entities Assumptions: Discount rate 10.00% Sate price as 96 of KPB assessed value of It 115.00% • Property tax mill rate 0.00312 Land fair market value increases per year 5.00% Improvements fair market value increaselyr 5.00% NPV computed in current dollars BENEFITS: Year 1 2 3 4 5 6 7 8 9 10 Sale of land 963,470 0 0 0 0 0 0 0 o 0 Property taxes 19,720 20,706 21,741 22,828 23,969 25,168 26,426 27,748 29,135 30,592 Annual Benefits 983,190 20,706 21,741 22,828 23,969 25,168 26,426 27,748 29,135 30,592 PV of Annual Benefits 893,809 17,112 16,334 15,592 14,883 14.207 13,561 12,944 12,356 11.794 COSTS: Total Costs of selling properties 16 000 PV of Annual Costs 16,000 Annual Net Present Value(PV Ben-PV Cost) 87'7.809 17,112 16,334 15,592 14,883 14,207 13,561 12,944 12,356 11794 , BENEFITS: Year 11 12 13 14 15 16 17 18 19 20 Property taxes 32,121 33,727 35,414 37,184 39,044 40,996 43,046 45,198 47,458 49,831 Annual Benefits 32,121 33,727 35,414 37,184 39,044 40,996 43,046 45,198 47,458 49,831 PV of Annual Benefits 11,258 10.747 10,258 9,792 9,347 8,922 8,516 8,129 7,760 7,407 COSTS: 11 12 13 14 15 16 17 18 19 20 Total Costs 0 0 0 0 0 0 0 0 0 0 PV of Annual Costs 0 0 0 0 0 0 0 0 0 0 Annual Net Present Value(PV Ben-PV Cost) 11,258 10,747 10,258 9,792 9,347 8,922 8,516 8,129 7,760 7,407 Present Value of Total Benefits 1,114,728 Present Value of Total Costs 16,000 Total Net Present Value $1.098,728 City of Seward-Harbor Upland Property-Cost Benefit Analysis-Lease vs Sale 5610155! IT4P-ji 4 - 01:111 T ! • ill ''7i 3k_= E3 3�da FIE1=3 1 1 14 Y > "VitiRi a . _ a� i i K 1 .1 1.:47, d„ Ix SP25 " ii.4- "P !Rin-sR _ 1 i^ DR 1, T 1 . i.- 1 1^ 1 - 1 1a w 1 J fia 1 Al$ �1" !4" t!"111 ^�" !gq1 -.1Z1gRi" i P«.7EW:£5 9 iRia ot: I `- 12...4.i r Y M.. MN y� a. 9ifIPIINII T- > 11 b 0 1 : I1 _x �i 1 _ ! as a R:rgAt _ .c.4 "a� a Ill OM E .•' jli3iag!' t '31]]3113 EJ.,', ist_iii il 11 . II .11 a ill s 'I 111 EE." ">; g 31 ill I Y N IP Ii1 iiir. fu. IF l` t E,: 4 . IS f e1r ` ginflfil ii FEF1i615 7. 2 . 4"iin!: = „- x «,4 E• K f _ ffl f@:.irssfiiu .:EFS_ E4 Ry iTa ..Il4 t_ pp gg k a"111 ..$154 Y7 "4 E�� - -Y ° S it iWi PV _` i W is 5FF55iFFg vgiiii t -gtwiEng b Pft^ _ Y G, R Y d Y Y VI Ryll'gNg a 3Eiii w�4 roo9`iiai 4 S SxR =i q- 'I S 'tii;50ei Fsw5i5ii= t'Eck==i5 Cypeii ip 'f _ "R !_ ligiai 6 iio.Yii s eiliai !7Pii an5�i irFii'ggia&�4 &liZiOl n. R t _ C er 4 }y��jr(yy yy }6� r t ym��tt tt rY 77���y pg 4 eii�.i iiiii 4 @iiiii_° 4 a.AiA�J' iib 4 j ''f - r._V 'i y - Cjttn a'gi F w ' -< 0. • [IVOcs in MapeinitSal Site Sistabape 24,025 SF/Muria Subject Property Data,AnOra*&Velma tion: Farrel 1-17• SPDa4 Water'Promise= Ham AeaWSrnet L)wrseatr. South Herbs Sewn ad Fan& (,e«; Mark A Chaves Ammowith arta. puns. 17spsb atreetipuls.ed ids+�f. 20-katIJP+ Sublessee Not wppiicabk paved warms soils etch Lame N.: 61009 Milker Landes: 1301.d 1307 Fourth A-es,Sewed,Alexa P.18e Wear ClgafSneed L.p(Dweriper: lea 1 A,Mock 1,Mein.Subdivision Pab1e Sewer Gay efSaved Current Ur 1134 Slides Spatlng Goods ed Northam Lear—. ,. Bowed PublicWhim 7•1g/mac OTE Moan 7.Psp.Flr Leal and at anew pada . 4amewr ad IAslrktlwet 8-fool moan eomaw lino%north . portion(am ottani aoemw0 ' • •r:. OMarhew= Caw Int 2.a1wD Portlier Hetes Caaahadl(HC) j . * ,a..I- Hos POW pieaavaM � `. dS 11111:407.3•1: l15 ; A esserN1 147-31048 _,.•i:c:=. .' - A...ezkia 1!l9lldJRate I1]2 LOP Aped 15,2000 rales Dr Skil Veer 215)0 8292 m4. !annotto Urge Der lnapaetede Mardi la,2000 Lead VJr 1102.30• S81/48' NA Impacted or save 1.Irlweia LsrePue meet V.A.. iiiini ilnin NA Reprwahnvo Lama ooeamd woks by Popham Total Vale* 171708 1431.211 NA • my Whom*PMI Ina my outwore Plat to ih ii3wi44poeLNd) 1MicSira(iAaaociatei, • The den.%for Ird our Ibe Small Bow Nebo ie mcog-tete a laud Via itwad on IL medbs dirroiaw orad eaok * . �F ILlpirot and Dew(JGrit%moldy of ked avihbft Oo the done idt demand,. Care- . completive orkaome tan,tin cutest d Yoke ds V rearm 41 (HAW)Aaalfi Al a meesl-hili would a.la h di fiamk m.b.orb a aig.i1caa Macro araimwed w av 210.00 to 311.00 per rpm phot evert TW Vora 1.aappb- Moho arhaie of the misting and coarmplaled land oar develop debar ao0est.Ibe bight*oral bat tense of tins nbj.a-odd be 21,122 SF M 5111.84181, 1248.823a reins e,emmmeml. 24,121 17.1 sin.am -S11d,230 From do nada data dimmed in Chapter 8,am hers a.)ecttl the lad"a" 0251,01(118( Martial Anoka maldollowing ooeiraNa a being to bast den available. Property V.kria MIAs✓Comma 1.Cansirr'dr/1.d 541 No Location Sale Date Saic Price Siff(SF) Price/S1 1 SEC of Fourth Ammo omd 7/91 2105,000 9,000 21157 Adam Stoat 2 West del ofThid Arms 9195 525,000 3,000 S1117 3 HWC of Third Avarua and 992 211,000 9,000 59.00 W..4 Street 4 Was side of Fourth Aver 9197 195,800n 400D 215.13 5 Wen side of RN:Mar 1197 SI 10,000 9,000 51130 1 East Alda of Fifa Mesut 5911 274,500 9,000 2221 (I)Woks 110,100 ofMnolitiae (7)Weeks 114500 of h.peeweal tis faap.r>tlre Laud Smartt cosy les i .4 4 above Moshe.ea min is a par tlswnm s !evert. Fergus,anti mmpwab.is Tweed CED which id ills to Valets Aad7.Y till subjea'a HC sowing. A.or be roam them aims field-e tang of 10.20 to 115.12 pa pore fool. Excluding Comparable No 4,d range is rapier at 2828 to 11157 par aquae foot Broad aa the upped peemue w wwmad.l lap rdmes lo Seward It is or *aka tib sobjrt's mho world be mer eke upper and of Ni.rage. 33 Schedule 3: Projected Lease Revenues for Harbor Leased Parcels East of 4th Avenue Scenario: Land continues to be leased, not sold Initial Annual Yeas Year Yaw Year Year Year Year Year Year Year Year Year Lessee [ease 1 2 3 4 3_ 6 7 8 9 10 II 12 Mab Cle®e-►rad 1-17 20,000 20,000 20,000 20.000 23,152 23,152 23,152 23,152 23,152 29.549 29,549 29,349 29.549 Orca Ensespiro-Parcel 1-21 11,000 18000 11,000 18000 30.1137 211137 30,137 70,837 30.837 26.594 26,594 26,594 26.594 Choke Bdd.C.L ellrir•Parcel 1-19 8,000 8400 8,000 8,000 9.261 9,261 9.361 9,261 9.26/ 11,120 11,120 11,120 11330 1.M1deoteep Sublet-Parcel 1.20 14,000 14.000 14,000 14.000 16,307 16.207 16.207 16,307 16,707 20,684 70664 20,684 20.614 1.Pn 2Wllarbar 0elevey lac.•Pored 1-23 18.000 184(10 18,000 18000 20,137 20,137 20.837 70337 20331 26,394 26,594 26,594 36.594 Dr!Lbws Brdraon-Pmt 143 4,000 4.000 4,000 4400 4,631 4.671 4,611 4.631 4,631 5.910 5.910 5,910 5,910 Denial 3 Ueda tors-Parcel 1-24 4,000 4,000 4.000 4.000 4,631 4.631 4.631 4.631 4,631 5.910 3,910 5,910 3.910 Aria 6416.34 p•Paeel 1-18 31000_ 32.000 32.000 32,000 37.044 37,044 37.044 37.044 37.644 47.279 47179 47,279 47.379 Anima/Lease Revenue: 111.000 111,000 111.000 136600 136,600 136,600 136.600 136.600 174.340 174.740 174.140 174,340 Year Yaw Year Year Yew Year Year Year Yew Year Yaw Yaw Yew Year Il 14 15 16 17 18 20 21 22 23 24 23 26 29.549 77.713 37.713 77.713 37.713 37,713 45.132 41.132 41.132 41,132 44,132 41.430 61,430 61.430 26394 31942 33.942 33,942 33.942 31.942 43.319 41-119 43,719 43,319 43.319 35.267 55,217 35.767 11320 15.06$ 15485 15.085 11083 15413 11153 19,253 19.253 19,233 19,253 24.573 24.572 24.572 10.614 26,399 26.399 26.399 26.399 26399 33.693 33,693 33.693 33.693 33,693 43.001 43.001 43,00) 26.594 33.942 33,942 33,942 33.942 33.942 43.319 43319 43,3)9 43.319 41319 53,217 33,.117 55.217 5,910 7343 7.543 7343 7.543 7.543 9426 9.626 9,626 9,676 9.626 12.116 12.216 12.236 5,910 7343 7343 7,543 7.543 7.543 9.626 9,626 9.626 9,626 9.626 12.236 12.286 12.216 47279 60.141 60.341 60,341 60,341 60.341 77.012 77.012 77012 77.013 77,012 98,289 98.289 91,219 174,340 322.507 222,507 222.507 222.307 222307 213.981 283.911 213.911 213,911 213.981 362260 362,440 362.440 Yes Year Year Yea Yat Yew Year Yew Year Year Yes Year Year Year 27 26 29 30 31 32 33 34 35 36 37 38 39 40 61.430 61.430 78,403 71,403 78,403 71,403 71,403 100.064 100.064 100464 100,064 10,064 127,710 127.710 35.287 53117 70362 70.563 70.562 70362 70.362 90,057 90437 90437 90.037 90.057 114,939 114.939 24,372 24.572 31.361 31,361 31,361 31,361 31,361 40,026 10.026 40,026 40.036 40.026 51,014 51.084 43,001 43401 34.182 34,112 54382 54.882 54.882 70.045 70.045 70.045 70,045 70.045 81397 89,397 55.217 55187 70362 70,562 70.562 70,562 70.562 90.037 90457 90457 90437 90,037 114339 114.939 12,216 12,286 15.611 15,611 15.681 15481 15.611 20,013 *013 20.013 20.013 20.013 25.542 25.542 12.286 12.216 13681 15.611 15,681 15481 15,681 30,013 20.013 20.013 20.013 20.015 25.542 23.542 98,219 98,289 125,444 125,444 125,444 125,444 125.444 160.102 160,102 160,102 1611102 160,102 204,335 204,335 362,440 362,440 462.575 462.575 462375 462.575 462.375 390.376 590.376 590376 390.376 390,376 753.486 753.486 Auaarptiaar: Vallre of leaser aid Propem Year I Is 1037 Told Lease Re.elue rMu year 20 4,267,508 Lcne Mt is I%d IVIIni 4d Md value Taal Lase Revenue Dub yaw 40 23,242,915 Leases re-+99n4w every$yeas beowrtos 2005 vebs at Proven dr*yea 20 $2,222.933 Lard vales Ianeass reflexed each leas mama' Vetue 94 Prepnty efae ver 40 85,898.103 Ued fav value increases pa year 5.00%a City o1 Seward-Harbor Upland Property-Cost Bandit Analysis-Lurie vs Sale W . . . . ' . • . . .i • I) .. 1 . . • . • • • . • • . • PORTION OF SEC. 3, TIS, R1W, SEWARD MERIDIAN 147-310 ---/ ' . • ____________. •MARINA 'SUBDIVISION . . OCEANVIEW SUBDIVISION -----------NORTH----14-ARBOR.. . THIRD AVE. SUBDIVISION 1 cr) 1.15 AC. Z • . (B) 1.88 AC. 2 • -P. > e 3A .517AC .... , M - ( 1) ............. 112' ) . AC. 0 e ri I DV Nr N o) 6 crit 111,Alli lA ::' t• *? . -.... 104 .6, 4104 o. . .1 _. . /------.....,... FOURTH AVE . ' 11 • ( . 1 . . • ............... --- •• ....rg -----"I \.. _Jr [ . "...... --------:-----------------------„z: 2............................................ ...-- if ,., .. .....s ....... .-...-- 3.1.1..ri II.11.11.1.1.11.1.1.11...fuLl..11.1.11.1.1.11...1......=.....:j .1.11..11..i.I.1..11..D...0...1.1..R..B..11... ..... 'J ...... .-- ......7............_... _ ... .. DAT.):-..4...6' 1998 r . .. .=. ..-.• . MS UM,U IIIPAIlld L . .titu= --.4:-%. Kim...,reiiiA ElliMPITIAMI • aux am* cram ==.* 00..,„•:: 4-4.......44%, • '44.4%stiou:„LN ywiciaawia=S. MillnirinA. c:= = MUM -- 1."1114b WPM)FO* At471 turn en • try 4 I- • .i.,, ' . lig 59e- t.2 TO a MTN el:lessors r — ...— . AA. .417,"-rc... .c....6.* - . i • -, NOTE — Assessor's tP.h.rra...,• to1.... cm- - U' 1It11lOrii Aia4c1.4ej 1MatStiaru Ariaoctih41 . Sebjeet Property Data,Analysts,a Valuations Parol 1-11 Site Size/Shape 49,920 SF ar 1.15 atm/mcnmglr rale D.aa4pti.a Via'rootage None Lease; pais 14indeobrp AcaserStrue Iapn'seatc Soash Harbor Street mod Foes* Avg watt Property Sublessee aNa epplia►}m pate [arra llaalySettas m.elidte and sidewalks. Then is Gas Nr. 67431 alio ■ 20-(col pried walkway Fervid*coos seems Met side Loden Vat ride of Food Avenue a the Small Boo Utilities Herber District.S.w rd,Make Legal D.aW iprr Lot 3A,Bieck 1,Ueda.Subdivision table Vats: City of Sewed Cmrvt the Sem Ina-Ra4vaodreriyboy Peek 6eertr City d Sewed [i.etrldye Sewed Public Utilities Tal*es.. CITE Alsip • T•PersPh r Lew and r PAP pada Hssewb.ad A..trictfrr 204eat utility rouse biomed los e dl ttiampdr sena(450 Sr) • e • D6r!waren Cooter let. •e. - S Roams but M ass owls Avast Sab$et Property mss' Le'ahb p llrFowls Camnreld ?bowing* a 017-� PargrF Nem 1e poi ed y :� t i (y. 1 ',:.:` 4` -• W Mwwr Nes 117-]1417 f.:•rU;; .er,: ---=-''''''r' .. *mimed Dad 1999 MY tease 11.22 Dab Arun 15,2O03 •,• TausA..rea a Hiner 33M V_ar 2000 1999 MR Saspeetlea Dela impeded: Muds Mu14,2000 Gerd Value 3252 2a• 424/9.41414 2219111114 lsperted ler Urn LfacSvvda Ieprw'eraas Vales withal unizi imam Agreostativr: Na mow= Total Valera 32,473,061 31,717,341 51,767,3,. "Leon buble 1es1oM isaea Car r reeve I711,401 149 W mere Wei III IMic$Mat Mtoeietel1 Lead Vane Herd w t.precedingdncraion and a ew9ilee envies d the ether - n p epi 9 i I I� 1 Cearadr mmpanbla,Pe arkat reuc of the appnecd proal's eeieead b ter• 4 N Y be SLOO per*pre tee.Thb dndape • e. ., a i 49,020 SF sl s6.w3s-s:n3ada m Last Value 32,.,1106(Rif) N N. HARBOR Sr till • 7y r FP LI Z u � s�Ntr� 1 f ZC. U • . H o Cf) I M ti 3 m I•/ ' L y 'U • e 0 I 1 \ C ca. s= -t h < m i �� i I e S. HARBOk e I a z ,l) 2 f Y -1 ' It z H —t I. o 4111 III P L $ 03 e 3 Li CO IL ! • 117, .._ w E �I • . • . . • .: .•( . . • --- . • .•- . . . • • - • • PORTION OF• SEC. 3, T1S, R1V, SEWARD MERIDIAN 147-310 -----I 1 -.,..,...0 I.--/ I MARINA SUBDIVISION OCEANVIEW SUBDIVISION -NORTH HARBOR- . THIRD AVE. SUBDIVISION (E3) 0 3A • > .47 AC. m 112' Q:19 .5i7AC . 8 co ..... BP 55 AC.4EilY (1) iii 6 (;r4 ,IBP At% • Mt, 4IU.) • __I N• 13 0z 1A ::' 104 FOURTH AVE . -- • 7----.. -\cl , \ ...........41.:..................'. - . I . — ____ Littiff..EgE __:1 . t r 1--------1 ii....i....i \-....._..........,.\ L.... i ,\ ...................... ........_......_. U 1 . 11 --- — -:- 1::-----7:::•-• .1.... .. *:'''''.."..”--...."."..."6":1::"""*--"*":::::::::::•::::::'"""'",.",::::::::::::::-."::=Imst.."••••••••mil. •?::** '' A I\ a i,,...1 .'''-..-.... ....--;-• Li.11.11.11..P...11.13..p.3 i-11•11._:1_/.1_1:11._:L.-.....-.-.......:-.73 .. .=:-.;:- --.0.-A...T.t.',..DE .19 1148 1—\. . a . zursa 1. ;on telisAt rt NADI . , •4•....... ;14 . •••',4,30110000 A13114140 ,t,,,___ OM, :.1.7# tr,. "4.474,, 'Nal ONLY AND%Otte° Iv. --resalrg 1 asstOO\\:guts • t - INTINOCO SOO ON I I P•Yetill Cr. ::71 _...1,.... ,„,4 .:1 logrUP4,17tilit...:, . :::1,' '•41:-„. 1 .ef" +rt..- --- *094(11 OA Oft IMMO ici!f..... • Sabjeef Property Data,Analyse',,&VOInaHoa: Parcel 1-20 Site 8inribapa 22.203 SF/camped • 614 Dreyer wpb Frwe.te None Lena: tri Modmb rp AraeaarStreet lapeerewetei Food Avm0e sed Noah Hair Property Sebe: Not sppiirable with ones lights Idmafkasa Lam Na J4-037Utilities: lamas: 303 Nett Harbor Sbee.Sewed,Alaska Pubis Wager: C1h of Served Legal Desripds. Lot 7.Bkck I.kart•SobdiviwoaElertrickyi Pab6e � Cay of Sewed Comsat Use Camedd Boldin-Bae lm jerkingSeward 1'ebitc MitesT GTE Mab .t;s:.. �' ..16:11)1 4 'T,•�,s� - TeMv.Jb'- Leal sad st rove pat +` 1.. • .5�,v'r _ " • Lt sea r la rd BNktlaee 20-four golly ea east side rb ct t erre :-%t l.�a.. Orb fetluna .# • d 11-11 '�v ' Chew lot.sewed Highway hersage Lahr &st r Commercial(11C) /f,• S. ' Pu Nom mann Saila Prepay Pk°e°p.p► f e/t• .r,,.. _ 147-110-09 -:J. •B•.p�' • ''i ( Amara Data 1929 NUN/atr 1122 Aweerq Haar — , , ...: Vrar lath 1949 1Y9b Lead VYv 5122~ 35130' 3111310' Doer.April 15,2000 Talon By:Sae Ibarpeea.e Dab Date tailwind: March 111000 Lpeemerrea Volae 1151,621/ � � Total Vales 2163.916 32145iS 5214,60/ larptatrd BYE Sore MeaSrbaM •Omer enable leuhd4 iemee fapneeehtive Ne regrew ay r awe/0011111 n Mr r a..weataar III I Mii,Sirlila AAjsoc ati11 IMitSiriri3AppdeLtea Highest pad fel ILA Tle deemed for Med par Ike Small Boot Harbor le atom with a lsick,deed isoud Vete FLad on ibm c preceding diametral and makLJ the athethery iimhd Appy of lad avallab1s. a damtee dn mnpredK ae arm�tic come we aim kw the abject is Asc.ruip. �f anm.r.a m we 57.00 to 55.00 pa m..fere few 7,MM dp eM psV"'' yM.iu, lofthe absorb sayers 11*highest aad leest st of the subject road be 7:2,2851 $ Er of 37.50/31.51436 fere cs a 22.=43 Si*wow-5177.616 bad Vase 3173,666(BI) kaki d Fret discussed per the market dee disced (a4 w have sleeted the Vay.. folawies weppnbes a ban the toot da pmilab4 Talk ejCaapaMr C.aprrdr"red f.29 No Location Sok Date Sale Prise Sue(SF) PtirciSI 1 SEC of Fourth/wear ad 794 0105,000 9,000 511.67 Ahem 80at 2 Wed aide of Third Avner 995 525,000 3,000 23.33 3 NNC of Tbbd Armee ad 3795 431.000 9,000 59.00 W.bl.1 .Sams 4 West aide of Foals Armee 997 395,000w 6000 315.33 3 Wry side arra%Avenel 197 5170.000m 9,000 911.50 6 East ask of FIAb Avon 5.93 374,500 9.000 37.11 (I)Imedea 311006 ddamo0de* ('2)1.Cedes S66 So11dioro.wer ve1e. Gbapandrp LV wed The oonperabk.listed above involve pia ala in a war downtown Yo AetrbeM SeFather,emit e000panM M mend 6CBD which u similar lo lbs reject's NC meii3. A.es b.nem these air yiad•nags of $5.21 b 515.12 pa agars fore lzrhdim Comparable Na 4,the rage is titian at 1131 a 111.67 per puss foot.the to the subject's elongated shape,it is or opidaa de carat ted vale world be at Ib low end of the nee. 35 • .. . • • -' • ... ._ ... •• • , • • . PORTION OF SEC. 3, T1S, R1W, SEWARD MERIDIAN . 147-310 .... ..... /... ....„ • INA SUBDIVISION 1.._ MAR .._................................... • OCEANVIEW SUBDIVISIONTH IRD AVE . SUBDIVISION 1 cn __,.......... • 1.- 1.15 7 AC. Z .... . (8) 1.88 AC. = ............ > e 3A .51 AC.,. , • 8 .47 AC. 33 112' @ 0 . > g IN 8 19' 8 c2, 0 .N 1) 4- .........1 (../ tr • (1120P En " 55 AC. 7t5 R ( 1) ,r 0) 6 in leDip 145 --------------........_..1 7-11'S.4,...2. IA 188' 16 -IC • 104 . VIM i ...... - • / • FOURTH AVE . . 41SWANIEI—‘q i i 1 i 1 i 1 1 il C_ .-- _ r 111:7-1-I-g 1 --- :11:11I r.1 Ji 1 -1 , • 1 p1 I I (I II i i ..._. _ _,...,..._..._. —1- • .......--„:::::::::::-.„-_,..._........................ ....„,:.14:„..„........li .... ,............_....... ..... . . .........., _____=............i.t.t..L.k.a.11p,........1.1.1.i.E.J1 1 ihl..a..11..li.);..a..ii..g...11.1.R...1...9... I I i 1 --) . IMPS 1..4.11, II POIVARECI illitft:1 . 1098 lS= ..,..",.. anvil •ni. """1 '.."'. „._... .,..a.n.u.n. I Fon zik wi PlImit.1:0:1! .. IIIIVIIINTIAM ...."-• ".-. :::. El-zrt m.rp, :1 ...**'".•'•:;:ty ' I r''',.../10110VGN A SOWN 0 I. 1 I ....q":4'7141 100 ANY °ELM A*. -.AMY& . zz 1144811 "-.... ir":-' tai :::::a omit rs.raacurnrir usYpT4 411M ...5.- 1.2 TO 11 8 Ts Nalcioli./780 .Assessor's fire. " —. _.... ,'-11..4...4.'-':•••.•:. mr,„ _ ..._--- • [ • '11•41,- mu!" & • •- f.,0 J.171 OM OR Rt NEW ITtOO :' ,.:::,- • ORVI _ 4 nnt • lura l il«l [M;isw:ji+1sn19ciitee l S■elect Property D.ea,Analis,&Vsl.ados:Pored 1-21 SW Sirr96apa 20.359 SF l th bay k1eNr Sib Dawi/tlw Wale Prest.gc Non, Leen Qtr Enemies Aerar,SV.tlrpreva.atc Foals Arne and South Nebo PraiaSalinas: Varix.wadi with aaba, goner, tea L6t.Wlotl,n lights m arra Luse Ne: 611-071 SWC of Fads Aar ad Saab Harbor. Loaner Soar Bon Hobos,&wed,Aloka Pubic Wart City of Sewed Lap/Dodger Portio.of Block 5,Ooeaevww Subdivision 1'obia Sera City of Sewed FlostratCast UrRslaj/ReaaasmtT• Sewed Public Oars Td7ka+r Q7E Alada TepapaPkT lava Ad M.tris pada E.aaa.ats 1W Raatriatiast 10-ba ptsidr o iIiy owmbe cos Ind Booth aide rd Wood auras faeseenent • • '� • '-;�;'%7r` .t"� y, Otfar Frim Cars la . , 7s.ky Rotor Caromeial(HC) repay r �\ _ Paskitp Now gars -- Prewar #d !/41 - - ems ;2IR 1 ril�' 1J'. 'r'" '�•'' ur:- ..°•'-;-=� - Artier Net 147.110-07 _.......,LL+ � - ^- Asst Ab 19f9 Mm.Rb. 1122 r- ;• Assessed*Mawr .,a,.,:ii.3.''etk4' +:°uCi •r- :a Data April 13.2000 Take Bye SM 7ar nal 5y99 lggq laaq.csioa Dns. Dna lasp.caad: Mani 14.2000 load Valeo (314,711• fiJ.766' 341,1967 lupreted By: Sire Magee1epe.rse.yam. 1122.1411 11111.!4! 7.113.M. Teal Vale $323,711 5179.119 5179319 Raprraeaati.a No roper, •Dawes tamale laas.hekl irrt Cr,or r•.md Neat Ill a>d Si 20.4 son to r11tidS41.AsWeutssI IM tSwiiiirA rociitd, I..d V.Ia Based as she Raab.[ diaaesias ad naakie the roma, HiorM..d B.1 u, The draand for lad ser th,Small Bar Harbor i.ate with a Ca'd"'i"' wind u,SI0.0 *la 512.00 pa a ral.a a the,ubjrt is (HARD)Analyse A. lindrd supply of hod available, On the don.side.dear i drape la para loo new. Ni Vert 'm Thh r• would maks it difficult to absorb a sierra leprae la supply. Mahe ease at IV nudes And eMaaph d led ran 26,!59!!t M 516.111V111-5203,596 furdiv suggests dr highest And bet tie of Ile sire would In sera motuerer. 211,559 ST.1$11.111•157-5)26,473 Lad Vas 1225.101(Sd) Mortar Asatyai sad Frog 119 make data dinar a Casper 5,as ba sera the Prupvap Va1a4. foliowms compsiblosas base dr La dna radsbis. T.WIcm. adr6a*A.d.reset1,11 No Lucatiou Sala Dale Sale Price Sits(SF) Pricc/51 I SSC of Fa rd Avenue and 7/94 3103,000 9,000 111.67 Adam Sart 2 Wee aids o(Thhd Arouse 9,95 225.000 L000 $5.73 3 WM of Third Ars sada 995 551,000 9,000 99.00 ' Weapon Suva d West nide of Forth Aver 9/97 395,0000) 6,000 113.53 5 Wes an of Fink A.,m., 1117 1170.00019) 9,000 31130 6 Er aide of Fifth are 395 114,500 9,000 3121 (1)WWd.114000 of d...dida (2)fackde B66,300 el i.pro.asr rale Comp r.tl.a lard 111 aaim�pmabkr tiAed akar.insole ser sales N a downer dowe Vales AnalysisSesta. Faber,cult cannabis is.Dead CBD which is sane b the a.b}ao•.NC so.ite. As ma to seek thee ale Aid a nap af S11111 o 015.12 pr aquae fool Excludi p Compe.b[s Ho.4.the range i tiling at 0611 to 511.67 per squat fad. Said a it. Wwmd assure ere commercial land vacuo in Snood•It it err opinion the subject's'slut would be new the upper end of Ibis se11e, . . . ' . . .. . . i • • ) (-- . ,_.. • ._ . . . • • • . ' . ' . . . . PORTION OF SEC. 3, T1S, MW, SEWARD MERIDIAN • 147-310 ........ . .......... MARINA... • / . 1 . SUBDIVISION ... • -------------------------.---------------NORTH---HARBOR-. . OCEANVIEW SUBDIVISION THIRD AVE. SUBDIVISION •1 •• • U) 1.15 AC. Z . • ' 1 .................. › e 3A 517n. -) PTN.) A Co 7) . 8(8) 1.88 AC. .47 AC. jj . 112' 6 (1- -5, n N-1.. ..., 33 .39 AC. ./ 5 16' • Co 8 go €..)(„• . o 0 eV "L'I. Nr 33 co .55AC. \_... ( 1) vr v 0) 6 1n_A 1910gEbi • 715Z3-az?. IA ::. 16. vv• - w • 104 W. • ; FOURTH AVE . l-VR 1 .. n (1 . • .. ... ... .. I r-3-.71-1-1-2---- --- . r-----1 f........•. 1 1 1 • 1 . t _............ o • ......--- - .- ""*"..'.--""--.."7:117-•:-'7.-7 . ... '"* :::::."^"----,- .... „,„„„___....,—...,,::::::::::::• ... ......” ...... .•.-. „... 1..11.11.1.11 D..11.1_11..U11._ 11.111111.1.11.111.1.... ....1 • 11,1 it.11.11.1..11..11.1.2.1.1.1..1.11 ...,.. • • • --.... • 1 ,..,...A.,0 pigAii. 1,::,„„ Si DATE:',D ! 1993 4,11Strt:VA • YON NINA!PI.A•AkA:• eirlil-IltiRral 4' Slim MIL VIM MU '''''' .4'41...4::. . . ''',A,0110IJON ASAYIS.Naffacq t• 4... I .."011 OtAY ANO ti.P. InItilit • =--- ••••:=4:1 ot 1 A 9::: ' .6 1403114 1 • MIMEO MA ANY:I . ; ssessor'sgie 7 -• ilUn Mn• •4inn WUOCUIrfirr art ' . , .. • .0:' '74', ) °I)"VU OR""MIIIMIT,—, . .., '.;.igiee . r:•::... . -. • . .• • . • . .•J . , ( - - .. .• .. - . . . . • PORTION OF SEC. 3, T1S, R1W, SEWARD MERIDIAN 147-310 e ...s. i ....._ , ....—............. MARINA SUBDIVISION .._......._______ OCEANVIEW SUBDIVISIONT --NCIFITH-----HARBOR.- . HIRD AVE AVE . - . SUBDIVISION -----T...... I Cl/ 1.15 AC. Z (8) 1.88 AC. 2 0 3A .517AC. CC112 .47 AC. 73 € ...2.0' • 8 . ,T,. 21 1.39 AC. co 1_ 04...,* • c3:3) e .55 AC.4110 g' ( 1 ••• in lap 145 . 62,, 1A 188' .6„ •'-i 11. 1 104 .. FOURTH AVE . • 1 1--2. "lip 1 Ct 7.-----------„. I/ II 1 11 ' .... ........ , — f4- --r— 1 r---....1 _ [ 1 .....,.........1 1 1 • 1 ,____........ L.7__Li....i.....i..g 1....____J i 1 .1 • , , ........... ....,.............,......;.,.....„........ It:,.............—.....a ..»........---...w.::;?••,:-.s,..-----.1;:............... w 4. .. -1W4I.-.".4%,kr4::: :>1.1„.el:•••••... ..-...". .............. /.... 1 " ...,.. ..IP ...-,... 11..11.1.1.1.1.M1..11.1.1.1.1.11_Li.i.4.1.11.1117...........7.3 IL.1..11..IL.fi..I;..11.1..1.1....11.1...n..D..a... ... : DAT ...ii....DEL 10, 1908 .. I :\ 4iitnill ........4 0., Sa '''.4:.....4...... I! bill LIAP IS regenersi , . soli SINAI*IPAIWACIVAI 1:"nz -Nteo ... . .. . a, /0119 A StINT SOL UNSUNG OSP • 4" F". surfs u:ssa Cwrt ritta ,..... i ..:, Malt h ...4fEgtsco . 1 i'lcritH A AND.,....t. INTENDS° SO4 ANY ,. e" F.:-. ttei '3"11 'a"' rigmbctigin 4 i. °Nut to oil Itnitxt414tioN . g•• 1.4%... 2!--- 1. Issesscies tta — ._ ....... slam "17.07t i — f'mi,,,001 4 '' II ..4"....,... NO1E - ASSIIJ201./1 iloce-Numperi S'A.0..w.."ili'In Afpses I..2 10 4 AlteimetC4 41.,...i .......-- .. . • 'it. tr- WO' . Kenai Peninsula Borough' litilr:LATbig"li 4b I I neat I sir= c 3 II\ • iMatthisis (ssaeti 1 • t , . i ti•ktlrit •A66041461 Site Siab5U9 4,250 IP/reetatrlshr Subject Property IMIL,Amityil,&Vilest/4W:Pared 1-23 • Sae Daeriptiom Water Treetop" blase lane" Dat sad lith 8tedram AeedStrrt Imprnsertt Pada Armin el*eats,grimes. suet lights ad Mammas • Prepertr ahwwt Not eppliabis Utilities Idandbcatian Lame Nei 76-064 Nada Wats. City Of Stasi I,.eati.s; 1317 Fourth Await,Sewed Alaska hb✓is Swats Cil1 d Sealed 140l DwcriptLar Sal IR of I.0. J. Block 1, Wars CLa rk ty; Sealed Paha thirties Sandrriris Ceram Usc Brdeoa'r Stadfo-Gift sbcp4n side Teapher 075 Aida Tep.repkyi Lewl mid ant that gads Laewsb sad lbstrielleem Nam wad !' t t +• 0 ,• �s1yK -. ' Oilier Tensaw Prams assist maids levan le a(s9 4- •: -- 4 .'`= •'t'' V.`_ • i err stprod 1 ) , ' Z.lac Hear Carrlecist pig • Parkag Now said .,;I1�vd��rII� ,aweeiuI111i111II1V .. " Sallied Property // .d: lide:: fbritt4 •G•.•..l Ammar Ne 147.310.13 Photograph •/.• • ..!- E ;:.plsea'1, . 7 Aw �rr D. 1949 Mill Raw 11X2.s 'j1 t I:. -�— -•1D Ivvv an . V`r hat 2t�II 1.5 - , •"'A lead Yds 333.211' $26.311• 116.90111e Doti Apel 13,2000 Take.My:SM lwpeevawe.a Vets BMW =hat S I+apedes Dan Dai.1suq.etsL• perch(4,2000 Teal Vert $227,110 $312,219 3312,200 Imp end LI„ Swo►tacSwen •Daws ambit b.stsea awes Inpro.stattar. Da Swam responded by wanton end anima My of Sword er•M/ 110 City of ae,wne 00411 in ilfae$tydtiAaFi 404 file±tg lec".66 8itd/ Higbee(and BM(k0. The Swami for Led a.le de sial Baa Haber la la an with a land VelmaBasad s the pwsdrB garde. sed raking Aa aeusesry ( NAmsbsY labelsapply d land salableOaM dose rid.,dammed la Cannaeamai Prativs asNd eslh, amen wit was for de alas it Vann asssasl whin..odd mete N d&G'iadt w absorb t silnifial meaty s.uiraied is b 311.00 is 312.00 pr mews fesnap Thi is sepptr. Mika e.elysia gds misses tad mnasylmed ad mahighests d &ad p: maw acemascial highest sed bat the molded vvosld M 4,2101f1 at 311.00131.366,730 4,231 BP at 31219931•u7,119 Marts Andy*0.r/ Fria the wenndem rimmed a Capes 3,we hewsawed de Lead Viers $91,111(Id) P,.peeiy Vaasa, follc+mK eumpvaNe a bees the bail dem salable That.9'C roam d e GAr.d a Fres11,73 No Location Sale Bate Safe Prite Sin(SF) Pevicel* 1 SEC of Fuad Anon.ad 7,94 5105,000 9,000 311.67 Mums"rest 2 West aids of Third Avant 995 525,000 3.000 31.33 3 NWC of Tbrd Avewe aid 9/93 311,000 9,000 MOO Wnhiestem Stmt • 4 West arida affair"Arena 9/97 395,00040 6,000 313.13 3 Wet aids of Fitlf Away 1/97 5170,11294 9.000 31130 a East side of Mk Areas 5991 374,500 9,000 343$ (I)lagers 110,0110(ds,diis (2)I.dades$66.000 of itmerement value Caspersen,leadTLc comprabiee listed above Iaro(va stx maim is or Dees w doer eom Sewed. further,ears easpaabla is gamed CBD which is similar b Vakw Asim the sesbjeal's HC soeius. As e.m he sus,tam oaer yield a saw at 1311 a 315.2 pes ions'foot. Escahas Cmparlde Na 4,the nape is tighter et 132*a 51117 per.genie fool Bald ea the ward pressure ea commaeal Ltd arms in Sewwd I Is sae apnea the subject's value would be arae tie tipple ad of this range 4.3 . • 1 . - 1 . ,......v.. . ... • ... • • • . PORTION OF SEC. 3, T1S, R111, SEWARD MERIDIAN 147-310 ! --...... .4._ ./ i ...,... 1......... . I — MARINA SUBDIVISION OCEANVIEW SUBDIVISIONoRTH-...HARBoa.. THIRD AVE. SUBDIVISION 1 u) Z 1,15 AC (8) 1.88 AC. 2 0 3A .517AC . ) 2 PTN.) A- ------ • e ›. . › .39 AC. e \\,...190 145 • 6Zz 1A :: le . le 104 ( • • Irr ct .; ..... .. ( . bFOURTH AVE . 411ft l—1 11 . il..................... 1 1 1 .................... It 1 1 1 J 1 1 i ..................... ....----- ._ • , ... ....hi...' -.t1-.-- ... 11. .1 / ...... ....s." l'‘,11...11.1,11. n n ii..nB...a..11..n..3..... .... (...:,..- .... k. ,..,MAP 1.1 Pal I'ASEZI r cow It(MAI IINIiiiiIVA, " 0 ATil....•) 19913 "\ ::,' 4'4%1,04...4 . ri-,,,A94::),T,:t.,A sAsemsir.:.011 ii ,„ 1 1 HI(14010 400 AS74 h.. .:::1( ‘ , 4:3 stu. MkAltIllmnkt: 4 . 1-. 1 I'°C"t 1 Ug ""Mtgillirw.:1 - C'..11'..\1 2. 10 ?WM IUSKIS,,,S.STFRISe. I....:. ••1"........_ 10 "Z Assessor's Pit. '''' ..... —... bum awn Lars 1,s T.s 4.1 I pospoot 4 ''::. 1.....4.4.4.4.......• . NOTE - Assessor'4 lloa:-.NumberS Show In Ellipses - -,- . • MAMA RIMS LOTS S.4 if II WM I orwma4 Assestoe. 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'.......1 .- . . ' . • . . • .._ • - PORTION OF SEC. 3, T1S, R1W, SEWARD MERIDIAN 147-310 -.---' w ........_.L. MARINA . SUBDIVISION -.._....._..-___... ---..................._:____ . OCEANVIEW SUBDIVISION NORTH-..IVISI-HAABOR... THIRD AVE . ' SUBDIVISION --- t.n . z L 1,15 AC. M. .................. (8) i.138 AC. 517 AC. = . 3> ..,.... PT N.1 • )." . Ca 112' Q:19 e • ....._ . .39 AC. 0 0 ir-.1 co 33.'"4,-*•• 8 - 16' . 0 e. . . 0 0 ---- CED („ - 55. AC. ,,z- 40 g ( 1) VC.; 4' 0) 6 33 --I, •-, U) 130 145 .... AtiliP • ; i 104 . I ( . . FOURTH AVE . I-2. 1-Ici t t .. .............1 i - , 1 t t- fl ) . 1 1 1 1 i i • , il 1 ! ______ I ______ ______ ; • ........----- - .-.—•4----,....., ,:r.u.n.woo........-..........—.....„..„,,,.--................. .•s, 11 •ll '''''•• /...•'....7 . Lt.r.211...5..11..i..11"..i.IAA ii 11 2 ils. • ........_......... c..,....11.......11._1111.____1141.....11....L.1.1. ...1:_ LT:1...1.1.1:11..11.111........_.. f ,f DAT.E1,... .ci 109e t.. {VA 4171, ...,,,, ...,. 411 ell :WU 6111% .1 Pa.VIll ..0: :. I.,. 1 rt 00:46.34.1.A:34 RM:11144 zut,}111:11(1 OA it Y "Igt.i.rn \ ,, 01.\7711. . ni% IMO 411;# II :114 e• tti•ry. •o , 0101OUGH nua:sem b( 1. 'hat OKY AHD 10% 11111111 -.....an: MNkrSt24$ --- r—N I POMO A:1,',. 1 att:T1 nr".1 VI . ti..1.0awn:.- NOTE — Assessor's oNumbers abrii.n in r m..... ...r.1..11.1 10ldi+td (MstSsralaA[oeCtire/ fMar4) Sias Slutitope 16,111 SF/bib*eaplr So Weer Property Dab,Analysis,&Valuation:Pared 1-22 sea Dpalptla Wates Frsat.s Naos Loom bees T.PruittAwa lS4r Iayrwaaatc Nash Harbor Shat mudMeson ad Forth Abbe bib cab Prepry Oakum= Voices•osan Scars,d sidawab so too Mote Woo/Meade. d>bMr user Lease Nr. 14-043 UtIttl.e Leatfae 1400 Mid A. sod 1401 Fourth A.easn, Snood,Alda P.blk Maar- ,Cley el Scowl Lspl Dooiptlese Pont.dof Too A.Blob I,Not Hobo. Pabbe Sowers Cily of towesd Subdirisioo Eksari iyt board Public MON Carnet Use Cavmmawae Sore,rubbed,MA,mess T.t*iean UTE Alaska Topography: Lard ad at oases pods Loos.sail Rotrktl.soo ISJmt utility eases! frog* baro of nese. 10-hat etAiq - ossemssn ono mfr side memos' • Orher Fibber Prim carob lot a•. • eco? N • 'W 2..ai.F Harbor Coaawudal(HC) 4i.''. _ ,1 't_ ' Parkin(¢ None required &afoot Prepay - a� J. ) •• -5 �apb - t:� am.�a-,.:, ,..,:-Ai.7:..— _ _ Arsaa Na 147-310-12 -'"''.'I.,• -- - Astannant Dan 1999 MO Rabe 11.22 • • Arae,RSaop • Veer Tenn Iv99 19911 M t Apel 15,2000 Tam lyt SM Lead Vibe 591,34' 247,461. 007,469• Des Noe laepteesd: Muth 14,2000 berrevat.t Valu VIM Heat HEM Impend.Dy: Steve A4 S a Taal Vale 294,769 SS54,769 5.44,79 . Rsprwtatt.e Lease',npnedalive motwtd spprdtr •Donau wealth t.tsrbd was.ot cyersa..0441 rb i'.'ot .sarr la PM13Ms4 Abecr.ta f,fiie .lir lietels'w'1 FOSbd.ad liras 1)o Tho drmad Or lard near tot.31•611n s Bas Hater is Orowit a Load Vales Booed Sc e p sedla0 dirassisa end miring she sway IllAbt>)A.tS1 As 'Ward atyply of£ d toa0 b. 0.the boa ids, dead Is C..dstw ooiPrar.a a4at4esd.toaatas mit vain fee Om'atm is Vassalsaoaa.l which woad make a&Mob to absorb a dpLammi4t Lamm esfiasesd in the 013.00 in taDa$14.00 pas Nasse bin N. in sappy.Marko abn of bas otosts rd oaaoeoplaW Mod nes dbelope father thuds the behest d bed we of Os bigot Mould be nes oosmciaL 14,404 04 oo 013.0441*.521495 14.404!A as$14JC41,e.0331,776 Market Amer*d From the omen.dart&masa in mnas y 4 w hnw selen.d tin Lard Vsbe SUSAN(94 bomb V,.Mad.a follo.in4 comptMn ne being the best des!aysll.bls, . liena'C..a7.reiir dr d r e7+, Ansi No Location Sale Parc Selo Price Sire(SF) Fncc)Sl SEC of Powell Mem mad 7/94I 3103,000 9,000 S 11.67 Macs Street Woe side dThd Mea 9195 f25,000 3,000 5031 NWC of Third Mae d 995 001,000 9,000 *9.00 Weehm/aa Most Wes sib affixed,Au9VF7 59S,000to 4003 015.03 War aide oripb Avenin 1/97 0170,000pe 9,000 51130 East side of Fifth Avera 5195 514,500 9,000 1021 (l)beads Si4ab afdrnalin.= (2),!chis 244300 of espy ro.unr.two Ga,9arsein LaidThe coon b oklisted above...he six asks b asks in or norwanwa Valve Aosbsi• Sewud Father,own coaepsrable 4 booed CDD width is ebbe o the sabot's HC mail. As en be Beet dace ales yldd a rase of 2121 to 115/2 per soon foss Embdby Cospnable No.4,b nip 0 der.$4.210 31147 p own fool Doe to the aobl.ee's pane briar Iaoliu4 kis on opinion res boat mit value would tie MC the upper d of the rot . AEDC News Briefs - Anchorage Alaska Economic Developme _• Horation Page 1 of 2 •) AEDC Anchorage Economic ‘11111 Sia. De ekrprnent Corporation Sitemap Jan AEDC Contact Us 4 ` r ! r 4 tvl iii . 'photo e.€ .- Home About Us Anchorage Overview Business Directory Media Room Search search... ' Investor Spotlight I TWVIDENCE Search For Properties with Alaska get ,,,.,"1 Medical Center AnchoragePro ect r.com click here to start searching poi . Anchorage is one of the few places you can catch a 50 lb.king salmon,walk a few blocks to a five-star restaurant,and attend a Broadway play the same night all without leaving downtown. AEDC News Briefs Senator Mark Begici, State of Alaska AEDC Releases 2010 Economic Forecast and Business Confidence Index Video Highlights 3 minutes ,PresidentatheDeefiet Powered by fullBillPopphouse tnapr'inasnted the 2010 AEDC Economic Forecast and Convention and Civic Center at noon today.InBusiness additionContodence the econoIndxmico a Alaska Travel reports the crowd was also addressed by Governor Parnell and Mayor Sullivan.In addition Channel Superfreakonomics Co author Stephen Dubner was the keynote speaker. Both documents can be downloaded here: sign up for our E-newsletter' 2010 AEDC Economic Forecast Business Confidence Index Help Global Warming,Eat Kangaroo! .462)C Fie %G is ee. ,5e LLl07c:17eon Featuring the co-author of £ t4'ednt ► ary 27 11:.su-.1.:aupm Dena'ina Civic&Convention Center Tickets at 258-3700 or visit AEDCweb.com Mr O beer's appearanto,is made possibk by CO44$ http://www.aedcweb.com/aedcdig/index.php 1/28/2010 Anchorage Prospector: Economic Development Available sites,building-g Page 1 of 2 db. A E D C ' ::::-:',.....:::---,_,-7,A ,, ,,i,„--.,0-t*:0-,;:!-- - ' yoAnthora=a Economic lit-4w f 't, Sites&Buildings i AEDC Home Page Add Properties I E-mail Us ' About Anchoratc'Prospector FAQ Help 8c Instmorons Property Search Tools - • - - La Search Available Properties Vit-, 0 'et Displ Property Type: I f A All Pro•ert T •es n 7 Office Building ®� g- „-„ , A Industrial Building Retail Building r __ ? \ LI B Warehouse Building t Land r 't,al,loy wiils h yia. r C ,. M Ricer LII B Minimum Size: 'a3i�.T t _ (Anc Maximum Size: ?` 7 +s' ✓w® 'C Units: Square Feet ��, + y • > • . F in Properties for Sale __ (Anc El Properties for Lease Regional Search: Golfo,Alaska 1 '' G All s r H City: P Zilpcode(Optional): • S❑D D El J R YOOn W ZOO.OVT toy, .D{MT•1,*WWI'MM iii El S Street Name(Optional): (7 T (Do not include street,drive or Only avenue) .41 V Search Properties ) !T.]Z Find Parcel by Address Address: Searc Props Zipcode: 1 . ;., ( Search by Address 3 I Find Parcel by APN Parcel Number. ___....—__.............._._.�-. Spon( EkIuL ( Search by Parcel,;,;.) Regional Profiles Noticr Region: Mater All-Southcentral Region • protec Report and tr Demo.ra.hics Re••rt infom Consumer Expenditures this w Business and Workforce sites is ( Show Community Profile 3 is"be: City Profiles guano City: repres Anchorage • accuri Report: of the Demo.ra.hics Re.ort discla Consumer Expenditures exprei Business and Workforce includ ( Show City Profile ] to wal Business Counts by Region merch Region: fora 1 and ni Anchorage • are no ( Show Business Profile ) any di Business Counts by City the us City: this si Anchorage • respot ( Show Business Profile I indept For more information,please the Ur contact: and c Erin E.Ealum detem Anchorage Economic Development satisfy Corporation of the 510 L Street,Suite 603 needs. Anchorage,AK 99501 opine eealtunCa.aedcweb.com estimrexam((907)334-1205 (907)258-6646 repres future http://anchorageprospector.com/ed.asp?bhiw=1259&bhih=734 1/28/2010 ill Anchorage Prospector: Economic Development Available sites,building-g Page 1 of 2 die AEDC V� Anchorage Economic . 'rwr Ccs'^:ks a Sites&Buildings AFDC Home Page I Add Properties I E-mail Us ; About Anchorage Prospector I FAV I Help&Instructions Property Search Tools ,. • Search Available Properties '- )\ r •. , .-. I Property Type (' 9 All Pro.ert T .es i}��i'` - - t Office Budding L ,^` Industrial Building ( - r#r .,,,� £ Retail Building '' *, O0 Warehouse Building i• f , c C Land Minimum Size: r' c;z r ; ©J " t Maximum Size: i c:::.,t I Units: Square Feet • `/ } _J Properties for Sale . , i Properties for Lease t` r Regional Search: .', i. I (1 All • 'yai/t 9tt* b: City: z: All • `! % .111 Z ifi Et] in Zmcode(Optional): soar wi zoo.ovr hev11 1011.WV••u.MM. 99664 , Street Name(Optional): E (Do not include street,drip c Export c avenue) Results to 2 properties were found Google 1 I Search Properties J Earth ;:. Find Parcel by Address Address lag Size Address: 1.337 Vacant0.00 & Ballaine Land to PI BoulevardFor 0.00 Li Zipcode Sale: Acres Yes ( Search by Address ) City: For Find Parcel by APN Seward Lease: Parcel Number County: No Kenai Sr Peninsula E: f Search by Parcel 1 .. Regional Profiles 'i " N Region: M All-Southcentral Region • p1 Report: ar Dernor ra.hics Re ort in Consumer Expenditures th Business and Workforce si. ( Show Community Profile ) is City Profiles _ . gi City: re Anchorage • ac rt: ( of Report di Demo.ra.hics Re.ort v '. --.:7", "++ - ww- ' ' Consumer Expenditures :',,VV.—`,Z-6,;,,,-,,&,,,„,,,,c,-...,:> l ” - •�" °; eJ Business and Workforce .:' ,s ',_ -^ - ° «W y Y w "* "> ¢ in ( Show City Profile ) �-1? fid'`tit - _ _ to m Business Counts by Region (32.4096th Vacant0.00 fe Region: Avenue Land to ar Anchorage t For 0.00 ( Show Business Profile ) City: Sale: Acres ar Business Counts by City Seward Yes th City: County: For th Anchorage • Kenai Lease: re I Show Business Profile ) Peninsula No in For more information,please th contact: ar Erin E.Ealum di Anchorage Economic Development sa Corporation of 510 L Street,Suite 603 nc Anchorage,AK 99501 0l eealum(d)aedcweb.com es (907)334-1205 e? (907)258-6646 re fu http://anchorageprospector.com/ed.asp?cmd=fmdsites&thetype=land&minSize1=&maxSiz... 1/28/2010 So Anchorage Prospector: Economic Development Available sites,building-g Page 2 of 2 Anchorage Prospector is an economic pi development website used to assist your business site selection,expansion or relocation analysis.Built with ZoomProspector technology,this GIS- 1 N _ powered website enables you to Y dynamically search for available dy ! . �4 office,retail,industrial,warehouse .buildings and vacant land;create site- specific demographic analysis;map {, businesses by industry;and use W► interactive maps to identify an optimal location for your company. Demographic reports include population characteristics,consumer expenditures,labor force,and employment wages. Copyright®2008 GIS Planning Inc. All Rights Reserved. GIS Planning 4 Export Saved Sites ] Results to { Google Earth http://anchorageprospector.com/ed.asp?cmd=findsites&thetype=land&minSize 1=&maxSiz... 1/28/2010 6 City of Seward,Alaska Port and Commerce Advisory Board Minutes March 17, 2010 Volume, Page Motion (Tougas/Oliver) Approve Topic for April 21 work session; Updates to Seward City Code Chair Long encouraged board members and interested parties to get their comments in as soon as possible in order to complete work on Title 7. Motion Passed Unanimous Consent Item 9. B. Discussion of Harbor Vessel Maintenance and Repair Policy The Harbormaster was soliciting input into this policy and planned to have a copy of resolution language at April 7 meeting. Chair Long expressed that he appreciated the Harbormaster going through the public hearing process and accepting comments. In the interest of full disclosure Rob Buck brought up that item 17(recycling)is taken care ofby him and his wife, Rob and Angela Buck. They separate and deliver it for recycling and are looking into expanding. Ron Long would like to see "practical" in place of`possible" under item 1. This item would read "Whenever practical remove vessel from the water to do maintenance and repairs." The board discussed and recommended the following addition; 20. Exceptions to the above policy requires written consent of the Harbormasters office prior to beginning vessel repair and maintenance activities. General consensus among the board is that this addition would give the Harbormasters office needed flexibility and oversight. The board generally discussed the policy and ability for the Harbormaster's office to enforce it. The Harbormaster noted that Jim Lewis should be recognized for this documents simplicity and correctness. Chair Long asked the Harbormaster to pass along the Board's thanks to Lewis for his work on the Policy. 5 minute break Meeting resumed tem 9. C. Discussion and recommendation for City Land Sale Policy vI \" Board generally discussed the City Land Lease vs Sale Policy. City of Seward,Alaska Port and Commerce Advisory Board Minutes March 17, 2010 Volume, Page • Christy Terry showed the board maps,discussed the topic and gave a general overview of this topic; specifically City owned pieces of property that are currently being underutilized and could be disposed of such as boulder field and the 3`d avenue tot lot. Local banks and Title Company will be invited to Council work sessions on this topic. Ron Long commented that some of the clauses in the memorandum and the 2002 Cost Benefit Analysis study (page 31) made assumptions that are limiting and did not include some of the secondary cost or benefits to the sale or lease. There was an additional potential problem with discrepancies between the Kenai Peninsula Borough appraisals and the assessor value. The CBA seemed an oversimplification of a complex process. There are issues with the Harbor with leasers being required to develop property not owned. Structure of leases was discussed. The analysis is separated into three different scenarios. Using real market value as opposed to assessed value would change each of these scenarios,as much as 1-15%. Chair remarked that there a few things to consider within this discussion that are changeable, including the mill rate. Best interest of the public vs. the city best interest is generally discussed by the Board,regarding this policy and assumptions in CBA,regarding: lower return in dollars but good quality of life issues and access to land. Board Member Buck commented on the value of ownership and the increased investment that would take place on outright owned property. The Board concurred that this is a large amount of • information to take in. Harbormaster commented that there are more areas that could be cleaned and prepped for lease, sale especially across the bay in the SMIC area. Discussion about Title 29 and municipal entitlement lands and a clear public interest is written in. The harbor parking area was discussed by the board as an example of great property that has high value and is being used 1/3 the year to only park on. Harbormaster Anderson left the meeting to attend a different meeting with the DEC. The Mayor and Board discussed issues including the political viability of some of the questions around this issue. More than one study had been done recommending off sight parking in the Harbor. The issue of harbor land value and parking was generally discussed by the Board and Mayor. Off site parking would require transportation to go along with it. The issue of building up rather than out was also touched upon. There was general agreement and discussion among the Board and the Mayor that other seaside communities visited around the country recommend the City keeping public ownership and access to water front areas and facilities. The idea of a public land trust was discussed to ease financing requirements for business owners. That approach may be a usable balance. The importance of keeping public access was discussed by the Board and Mayor Dunham and balance of interest and economic growth with public access and interest. Q-Schaefermeyer asked: Had there been any surveys of sister communities with similar features,like Homer for instance? How do they manage their properties along their spit? 81 53 City of Seward,Alaska Port and Commerce Advisory Board Minutes March 17, 2010 Volume, Page A-Terry stated that she had not talked with anyone in Homer but would do so before the council work session, in order to gain a comparison/perspective. Q-Board Member Buck asked:Had issues like climate change,and the possibility of sea levels rising been factored in? The importance of keeping `green space' was discussed by the board. Board Members and the Mayor agreed that they would not want to Seward become a privately owned area with little or no access for the public to the bay or recreational areas. Property that was vacant on the Bay was of concern and discussed by the.Board, as there was considered to be potential profit for the City and business owners if responsible development took place. Mayor Dunham gave some historical prospective. Prior to the earthquake the City owned relatively little land. Afterwards the City owned the waterfront area because the Railroad had fallen into the ocean. Another consideration discussed by the board was,the economic downturn affecting the probability of selling some parcels. A few years ago RFPs had been released for a few areas and there had been no realistic responses received. The changeability of the political and economic climate was talked about. Christy said she would provide a synopsis of this discussion and the issues discussed to council at their work session. General discussion of the process moving forward, City Code and the Comprehensive Plan took place. Chair Long thanked Christy Terry for all the information. CITIZEN COMMENTS — Mayor Dunham and the Board discussed the lawsuit filed against the Railroad and Aurora regarding the coal facility. BOARD AND ADMINISTRATION RESPONSE TO CITIZENS' COMMENTS - Chair Long remarked that Port Mackenzie is lobbying for a coal facility to be built in that area. ADJOURNMENT The meeting was adjourned at 1:55 Suzanne Towsley Ron Long . Executive Liaison Chair (City Seal) 82