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HomeMy WebLinkAboutWD-169-79 No. 169 TOWN OF NEWCASTLE PUBLIC WORKS DEPARTMENT Director's Report to Public Works Committee. Item: Land Appraisal. Date: June 15, 1979. Subject: Road Allowances - Part Lot 10, Concession 2, (former Bowmanville) Town of Newcastle. Background: On September 8, 1978, Thomas P. McIver, Q.C. , requested, on behalf of his Clients, Schickedanz Developments Limited, that the lands described as Mann Street and Winnstanley Street, in the former Town of Bowmanville, be closed in order that his Clients may pur- chase same. This was presented to Committee on October 12, 1978. Public Works Committee requested a Report on the subject matter, to be presented at the subsequent Meeting of November 16, 1978, following which Resolution # W-378-78 was passed, as follows:- 'THAT the following recommendations contained in Report #94, dated October 30, 1978, regarding the request of Thomas P. McIver, Q.C. , that the lands described as Mann Street and Winnstanley Street in the former Town of Bowmanville be purchased by their clients, Schickedanz Developments Limited,�be endorsed` Report # 94: t'THATI conditional upon all costs being borne by the Applicant, the Town agrees to the request and that the land be appraised and sold at the approved appraised value; and, further, that, once the appraised value has been established, and subject to the acceptance of the conditions of sale by the affected property owner, the road allowances be closed by By-Law and conveyed to Schickedanze Developments Limited". No. 169 _ 2 Report: On April 11, 1979, the Regional Municipality of Durham Land Purchase Division was requested to appraise the subject lands, which amount to 3.794 acres. The Regional Municipality of Durham has appraised the relevant property at $25,000. 00 (Twenty-Five Thousand Dollars) per acre, to a total value of $94,850. 00 (Ninety-Four Thousand Eight Hundred and Fifty Dollars), as of May 29, 1979. Recommendation: THAT the Appraised Value of the Road Allowances in Part Lot 10, Concession 2, former Town of Bowmanville, comprising 3.794 acres, be established at $94,850. 00 (Ninety-Four Thousand Eight Hundred and Fifty Dollars) and that the road allowances be closed and conveyed, subject to the Terms and Conditions of Resolution # W-378-78. JF:vh - � .. ~/ � THE � � �� |M� � / /� U��� ! �� | (T� ��� F�U� A � �� ' ' ' ^ '� ^ ~^ ' �� ' ` ~ ` � MUNICIPALITY« �' ` �/ ,� '^, " `'`` mmnxooepAnnwsmT w.x.rwsLveTMseu.pzny/ou*mioxvmxo/Works 1oacowsuwsno DRIVE,p.o,BOX oxn.wwraY.owrP,mnL/m /c* TELEPHONE:(m*) (36o-7n/ June Il , 1979 Corporation of the Tmvo of Newcastle Public Works Department Hampton, Ontario ' I,0B IJ0 Attention: Mr . Jnbo Ferguson , C .T .T . D t ���u�v����`����`�����`����������� Dear Sir: Re: Appraisal Report ^ Unopened Road Allowances Part Lot 10, Concession 2 Town of Newcastle (B i --------'------------'---------'--------------' As per your request of April Il, 1979 , an investigation has been carried out to determine the Market T7aIoe of the herein described lauds . The following report contains an analysis of this investigation and the resulting conclusions . All the sales used and the subject property were personally inspected by the appraiser. The market value of the onh 'cot lands as of May 29 / 1979 is estimated to be $94 , 850 . 00 . Respectfully submitted, n .L, Post, C . Il.&, ( LP/wq Laud Purchase Division A P P R A I S A L R E P 0 R T UNOPENED STREET ALLOWANCES PART LOT 10, CONCESSION 2 TOWN OF NEWCASTLE (forme •ly Bowmanville) PREPARED FOR THE TOWN OF NEWCASTLE PREPARED BY THE REGIONAL MUNICIPALITY OF DURHAM LAND PURCHASE DIVISION PURPOSE OF APPRAISAL The purpose of this appraisal is to estimate in fee simple the market value of the lands herein described for purpose of disposal by the Town of Newcastle. DATE OF APPRAISAL The 29th day of May 1979 PROPERTY.- RIGHTS—APPRAISED The property rights appraised are those of fee simple ownership . LIMITING CONDITIONS The property is appraised as though free and clear of any liens and encumbrances . Legal descriptions and surveys furnished by others are assumed to be correct . The information in this report supplied by others is believed reliable, however no responsibility is assumed for its accuracy. No responsibility is assumed for matters which arc! legal in nature , nor is any opinion as to title rendered . The appraiser by this report is not required to give testimony or attendance in court or any governmental hearing with reference to this report. NEIGHBOURHOOD DATA The subject property is located in the north east section of the Town of Bowmanville, on the east side of Liberty Street north of Concession Street, and extends from Concession Street to about 1200' ± north of the C, N .R. tracks , The area is developed with strip residential along Concession Street and Liberty Street and the remain- ing lands are vacant. DESCRIPTION OF SUBJECT PROPERTY The subject property consists of 40' ± wide unnamed lane about 600' east of Liberty Street and extending to about 12001 ± north of the C .N.R. tracks and an- other 40 ' ± lane extending from 767 ' north of Concession Street to 952 ' northerly and from east to Bradshaw Street and is shown as parts 1, 4 , 9, 10 , 11 and 12 , on M. D. Browns plan, file No. 78310 . Unnamed lane C.G . Hannings Plan, Part of Main St. , T.W. Herricks Plan , and Winnstanley Street, T.W. Herricks Plan. ZONING_ The subject property is shown as D - Development land in the Town of Bowmanville zoning by-law No. 15 87 as amended. SERVICES AND UTILITIES There is an existing watermain on Liberty Street and on Concession St. and a sanitary sewer on Liberty St. However, there is not enough capacity to develop the land until such time as the trunk sewer is extended from Hwy No . 2 and Mearns Ave. , which is expected to take place some time in 1980 . The property is serviced by the hydro and telephone. Police protection is supplied by the Durham Regional. Police and fire protection is supplied by the Bowmanville Fire Department. HIGHEST AND BEST USE The highest and best use of a property is that use which will produce the greatest net return to an investor over a given period of time , bearing in mind that reference to net return is not limited to monetary advantages, but may also be in the form of amenities . The highest and best use must be legally permissable under the existing zoning by-law and governmental regulations . The property should be physically adaptable to such a use, and the location should be in an area that there is reasonable demand for such a utilization . There is presently a proposed plan of subdivision on the property , and as servicing will be available within the next year or so it is estimated that the highest and best use is future residential development land. METHOD OF VALUATION When sufficient sales are available the Market Data approach is the best indicator of Market Value as it indicates the current market conditions, and is the most readily understood. This approach involves the gathering of sales of similar properties and analysing them and comparing them to the subject property, and making the necessary adjustments to arrive at the market value of the subject lands,, it is the appraisers opinion that this approach is the most pertinent to the valuation of the subject lands . VALUATION The follwoing is a list of three recent sales of similar properties in the area that indicate that the market value of the subject lands would be $25 , 000 per acre, - Sale No . l Inst. No. 78919 This is approximately 15 . 6 acres of future development land located on the west side of Mearns St. north of Concession St. The property sold in Sept . of 1976 at a rate of $22 , 420/acre. This value would have totae adjusted upward for Lime . Sale No. 2 Inst. No. 90534 This is 77 . 16 acres of development and agricultural land located on the west side of Middle Road just north of the existing development. The property sold in Sept. of 1978 for $21 , 432 per acre . This value would have to be adjusted upward to reflect availability of future servicing. Sale No . 3 Inst . No. 90536 This is 42 . 65 acres of development lands located on the west side of Liberty St. , north of Meadowviela St. The property sold in Sept. of 1978 for $20, 366/acre! . This value would have to be adjusted upwards to reflect availability of servicing. - After inspecting and analysing the above sales it is the appraisers opinion that the market value of the subject property is $25 , 000/acre. The value of parts 1 , 4 , 9, 10 , 11 , 12 and 13 of the enclosed plan is therefore, 3. 794 acres @ $25, 000/acre $94 , 85V00 REPORT # 94 October 30, 1978 To: Chairman & Members of the Public Works Committee. From: J. Ferguson, C.E.T. , Deputy to the Director of Public Works. Subject: SCHICKEDANZ - Application for Land to be entered in Land Titles. Background: On September 8, 1978, a letter was received from the offices of Thomas P. McIver, Q.C. , requesting that the lands described as Mann Street and Winnstanley Street in the former Town of Bowman- ville, be purchased by their clients, Schickedanz Developments Limited. Resolution # W-356-78 THAT the letter from Thomas P. McIver, Q.C. , dated September 8, 1978, regarding Schickedanz Developments Limited application for land to be entered in Land Titles (Mann Street & Winnstanley Street) , be referred to the Director of Public Works for a report back to the next Meeting. Report: At the Registry Office, the two roads in question are shown on a Plan of Survey (by Porter & Bradshaw) and were registered in 1856. Therefore, these roads are public roads and there is no evidence that they have ever been closed by by-law or sold at any time. Schickedanz Developments Limited presently owns lands from the reran of the lots fronting Liberty Street and from the rear of the lots fronting Concession Street, northerly to the Canadian Pacific Railway and easterly to Bradshaw Street. J V C�) REPORT # 94 October 30, 1978. continued. . . Schickedanze Developments Limited wishes to purchase approximately one half of Winnstanley Street (being a 30ft. road allowance) , from Mann Street, easterly, approximately 120 ft. The Company also wishes to purchase Mann Street (also a 30ft. road allowance) from a point 540ft. north of Concession Street, to the end of the road allow- ance (some 1270ft. north of Concession Street) . Recommendation: THAT, conditional upon all costs being borne by the applicant, the Town agree to the request and that the land be appraised and sold at the approved appraised value; and, further, that once the appraised value has been established, and subject to the acceptance of the conditions of sale by the affected property owner, the road allowances be closed by by-law and conveyed to Schickedanz Develop- ments Limited. CORPORATION OF THE TOWN OF NEWCASTLE -rEt,EPHONE 623-3379 40-TFMPERANCE STREET 13oWAAANVILLE,ONTAMO L-IC 3A6 September 25 1978 Thomas P. melver, Q.C- 'West Suite 2215 - 44 King street Toronto, onto-Tio M5H ]?ear lvir McIver'. z DevelOPMents Limited i_11 1�:tnd Titles Scl-licke-dal, entered Application -for Lands to be e dated Septegber e, '1978 wa�, subfflitt(�Cj is to advise You that your letter 25 1978 and was referred to the Irl-lis , at its n)eeting on Septeniber and D(,Velopment Committee. to Council Committee and the Planning ai Public Works CU""' -further aellion taken.We shall advise you Of any your, very truly) Joseph lx C.T. JMM-nof Works Town cc.. Secretary, Public conJI)ittee Secretary, Planning and Development Ccxn-nittee RECEIVED SEp 28 1978 wonji,,� D--PT. TOWN OF NEWCASTLE COMMICATION9 ZEPI PLANNING AND DEm AND PUBLIG"WOms, THOMAS P. MCIVER , Q. C. 302 6591 JOHN M.CLARK[,B.A.,LLA3, 'lUt]-E 2215 - 44 KING STREET WEST TORONTO, CANADA mil I,I I E P Septemhar 8th, 1978 . J. McIlroy , Esq. , Clerk, Town of Newcastle , 40 Temperance Street, Bowmanville, Ontario. Dear Mr. McIlroy: Re : Schickedanz Developments Limited Application for lands to be entered in Land Titles ---- I am the solicitor for Schickedanz Developments Limited who is applying to have lands entered in the Land Titles . I enclose herewith a copy of the lands referred to in the said application together with a copy of the plan of survey made by Donevan & Fleischman dated December 4th, 1969 , revised June lst , 1972 , referred to in the said description. I have been advised by J. Ferguson, C. E.'".P. ? Deputy to J. Dunham, Director, Public Works Department that the lands described as Mann Street & Winnstanley Street referred to in the said description have been dedicated through the Hanning' s Plan but have never been assumed for public use. The Town has apparently done some minor repairs and construction along these road allowances south of my client' s lands , but Mr. Ferguson states that he is not aware of any work being completed within my client ' s lands . Please treat this letter as a formal request on behalf of my client, Schickedanz Developments Limited , to purchase the said lands described as Mann Street & Winnstanley Street from the Town of Newcastle . I Page 2 . Member 8th , 1978. J . MCI] .r o Y_�_. ----- . i. I -look forward to hear_ inq from you after you have had an opportunity to bolt into this matter . For your information I enclose copy of letter dated August. 31st , 1978 , received from J. Ferguson, C. E. T. Yours very truly , Bernice C. Shaw (Mrs . ) Secretary to THOMAS P . McIVER. bcs . Encls .