HomeMy WebLinkAboutWD-165-80 TOWN OF NEWCASTLE PUBLIC WORKS DEPARUENT
Director's Report to Public Works Committee of December 5, 1980.
ITEM: WD-165-80.
DATE: November 26, 1980.
SUBJECT: Lot 5, Block 'Z' , Village of Orono.
Resolution # W-154-80.
BACKGROUND:
At the Public Works Conmittee Meeting of June 26, 1980, Report
WD-74-80 was endorsed by Resolution # W-154-80, as follows:
"THAT the tecommendation in Report WD-74-80
be endorsed and the toad allowance between
Lots 4 9 5, Mock ' Z', V,i Cage o j Otono, be
closed and conveyed, in accordance with Town
Policy".
REPORT:
In conjunction with Town Policy, an Appraisal of Land Value was
obtained, and the Appraisal Report is attached hereto.
The total area of the Unnamed Street is 5,503 square feet, and
is clearly defined as Parts 1, 2, 3 and 4, on Reference Plan No.
1OR--1188.
It is suggested that Parts 1 & 2 be closed and conveyed to the
northerly abutting owner(s) and Parts 3 & 4 to the southerly
property owner(s) .
RECOMMENDATION:
THAT, in accordance with Town Policy, the
appraised value of those lands designated
as Parts 1, 2, 3 and 4, on Plan 1OR--1188,
be established at 0.48(, (Forty Eight Cents)
per square foot for a total value of
$2,600. 00 (Tao Thousand Six Hundred Dollars)
and, further, that upon the agreement of
the abutting owners, a by-law be passed to
close and convey the lands in question.
JD:vh
49
TOWN OF NEWCASTLE PUBLIC WORKS DEPARTMENT
Director's Report to Public Works Committee.
ITEM: WD-74-80.
DATE: May 27, 1980.
SUBJECT: Lot 5, Block ' 7. , Village of Orono.
Background:
The attached correspondence requests that the road allowance sit-
uated between Lots 4 & 5, Block 'Z' (west side of Mill Street) in
the Village of Orono, be closed and conveyed.
Report:
As shown on the attached plan, the un-numbered Block is a road all-
owance of approximately 33 ft. in width and 300 ft. in depth.
The road allowance in question has never been maintained, nor has
it been closed by by-law to this date.
Recommendation:
THAT the road allowance between Lots 4 & 5, Block 'Z' , Village of
Orono, be closed and conveyed in accordance with Town Policy.
7
PLAN &IATERIAL
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APPRAISAL REPORT
PART OF UNNAMED STREET BETWEEN
LOT 4, BLOCK 14 & LOT 5, BLOCK Z
ACCORDING TO C.G. HANNINGS PLAN
FORMER VILLAGE OF ORONO
(NOW TOWN OF NEWCASTLE)
PREPARED FOR
THE TOWN OF NEWCASTLE
PREPARED BY
THE REGIONAL MUNICIPALITY OF DURHAM
LAND PURCHASE DIVISION
m RECEIVED
NOV 21 1980
November 20, 1980
The Corporation of the Town of Newcastle
Public Works Department
HAMPTON, Ontario
LOB 1JO
Attention: Mr. Jack Dunham
Director
Dear Sir:
RE: Appraisal Report
Part of Unnamed Street between
Lot 4, Block 14, & Lot 5, Block Z
former Village of Orono
Town of Newcastle
As per your request of September 19, 1980, an investigation
has been carried out to determine the Market Value of the
herein des-cribed lands.
_ The following report contains an analysis of this
investigation and the resulting conclusions. All of the
sales and the subject property were personally inspected by
the appraiser.
As a result of this investigation, the Market Value of the
property described in this report as at November 5, 1980 is
estimated to be $2,640.00. A detailed breakdown of the value
of the separate parts is included within the report.
Respectively Submitted,
G.L. Post, C.R.A.
fps Land Purchase Division
SUMMARY OF SALIENT FACTS AND CONCLUSIONS
DATE OF APPRAISAL: November 5, 1980
OWNER: Town of Newcastle
LOCATION OF PROPERTY: East side of Mill Street
500'± south of Millson Hill Drive
Village of Orono
LEGAL DESCRIPTION: Unnamed Street between Lot 4, Block 14 &
Lot 5, Block Z - C.G. Hannings Plan
Village of Orono
SIZE OF PROPERTY: 33 ft. x 166.75± ft. (5,503 sq.ft.)
ZONING: Street Allowance
HIGHEST AND BEST USE: Value in contribution to adjoining lots
ESTIMATED MARKET VALUE: $2,640.00
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PURPOSE OF APPRAISAL
The purpose of this appraisal is to estimate the Market Value of the herein
described lands for purpose of disposal by the Town of Newcastle.
DATE OF APPRAISAL
November 5, 1980
LEGAL DESCRIPTION
Part of unnamed street between Lot 4, Block 14 and Lot 5, Block Z, according
to C.G. Hannings Plan, and part of Lot 28, Concession 5, former Village of
Orono, now Torun of Newcastle.
PROPERTY RIGHTS APPRAISED
The property rights appraised are those in fee simple interest, subject to the
usual municipal and governmental regulations affecting land use in the area.
DEFINITION OF MARKET VALUE
Market Value is defined as the amount that the property might be expected to
realize if sold in the open market by a willing seller to a willing buyer.
LIMITING CONDITIONS
No responsibility is assumed for matters which are legal in character nor is
any opinion as to title rendered.
Legal description and surveys supplied by others are assumed to be correct.
Information in this report supplied by others is believed to be reliable,
however no responsibility is assumed for its accuracy.
The appraiser by reason of this report is not required to give testimony or
attendance in Court, or any Governmental hearing with reference to the
properties in question.
i
DESCRIPTION OF SUBJECT PROPERTY '
The subject property consists of a rectangular piece of land having 33 ft.
frontage on Mill Street by 165 ft. depth and is located between two
residential properties on the west side of Mill Street about 500 ft. south of
Millson Hill Drive in the Village of Orono.
The property has been filled on the north side and is about 4 or 5 feet higher
than the south side. There is a row of mature spruce trees dividing the north
and south halves of the property.
The north half of the property is improved with a gravel drive which provides
access to the rear of the residential property to the north. The south half
is grass covered and is presently used as side yard to the property to the
south.
SERVICES AND UTILITIES
The subject property is serviced by municipal water, hydro and telephone.
Police protection is provided by the Durham Regional Police Department.
NEIGHBOURHOOD DATA
The subject property is located in the Village of Orono, in the Town of
Newcastle, on the west side of Mill Street, just north of the downtown area.
Mill Street consists mostly of single family residential homes of various
styles in the 30-40 year age bracket.
Most of the every day needs can be provided by the Village of Orono, while
major shopping and employment opportunities require travelling to Bowmanville
and Oshawa.
ZONING
The subject property is designated as an unopened street, and as such would be
reserved for public use. However for the purpose of this appraisal report the
property is valued as though it was RI residential in conjunction with the
zoning of the adjoining lands.
The minimum lot requirements for a residential- building lot in this zoning is
as follows.
No Services: 120 ft. frontage and 15,000 sq. ft.
Serviced by Water or Sewer: 75 ft. frontage and 7,500 sq. ft.
Serviced by Water & Sewer 60 ft, frontage and 5,000 sq. ft.
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 the 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 permissible under existing zoning
by-laws, and other governmental regulations. The property should be
physically adaptable to such a use, and the location should be in an area
where there is a reasonable demand for such a utilization.
Section 461 of the Municipal Act states that where there is more than one
owner abutting a road allowance, which is being closed and offered for sale,
then each has the right to purchase up to the mid point of the road allowance
of the portion abutting his land. Therefore the highest and best use in this
case would be in contribution to the adjoining lands.
METHOD OF VALUATION
As the highest and best use of the subject lands is its value in contribution
to the adjoining properties, it is first necessary to establish the value of
these properties.
The subject property is vacant land, therefore the adjoining lots are valuer
as though vacant, to establish a base rate for the land. No attempt has been
made to estimate the value of the improvements.
The value of the lots are established by the Market Data Approach, which
involves the gathering of sales and listings of sales of similar properties in
the area, and making the necessary adjustments to arrive at the market value.
VALUATION
The following is a list of four sales that were used to arrive at the market
value of the adjacent lots.
SALE NO. 1 Inst. No. 85778
Part Block 9 Hannings Plan, Village of Orono
A lot 60 ft. by 155 ft. ( 9,300 sq.ft.) sold in October 1977, for $20,500.00.
This lot is located on the west side of Main Street, 112 mile south of Taunton
Road and is serviced by municipal water. The sale price was adjusted upward
for time for an adjusted price of $21 ,730.00.
SALE NO. 2 Inst. 97028
Part Lot 30, Concession 5 Township of Clarke
A lot 150 ft. by 200 ft. ( 30,000 sq. ft.) sold in November 1979, for
$20,300.00. This sale is located on the east side of Oschonski Road, just
west of Orono, about 1 ,000 ft. south of Taunton Road. The lot is unserviced.
The sale price was adjusted for time and servicing for an adjusted price of
$23,910.00.
SALE NO. 3 Inst. No. 98695
Part Lot 28, Concession 5 Village of Orono
An irregular shaped lot of 7140 sq. ft. sold in April 1980, for $19,000.00.
This lot is located at the east end of Churchill Avenue next to Hwy. 35 & 115.
The lot is serviced by municipal water and required some filling to be built
on. The sale price of this lot was adjusted for time and condition for a.n
adjusted price of $20,140.00.
SALE NO. 4 Inst. No. 86713
Lot 21, Block A, Plan 693 Village of Orono
An irregular shaped lot containing about 11 ,900 sq. ft. was sold in November
1977, for $15,000.00. This lot is encumbered by a watermain and was purchased
by the Town of Newcastle for a walkway between Mill Street and Peters Pike.
The sale price was adjusted for time and condition for an adjusted price of
$20,900.00.
Of the above four sales, Sale No. 1 , and Sale No. 3 are very similar to the
subject and sold for $21,730.00, and $20,140.00 respectively. It is therefore
estimated that the market value of a lot serviced by water in the Village of
Orono, as at November 5, 1980 is $21 ,000.00. This value is supported by the
remaining two sales of $23,910.00 and $20,900.00 respectively.
The adjoining lots are 66 ft. x 165 ft. (10,890 sq. ft.)'. At a market value
of $21 ,000.00, this is a base rate of $1 .93/sq.ft. However the subject
property is of such a size and shape that it can not be utilized as a separate
building lot, and therefore only has value in contribution to the adjoining
lots. Increasing the size of a building lot does not increase the value at a
proportionate rate. It is estimated that the value in contribution of the
subject property to the adjoining lands would be 25% of the base rate
established for a lot which could be utilized as a building lot. The value of
the street allowance is therefore estimated to be
$1.93/sq. ft. x 25% = $.48/sq. ft.
The market value of the parts as shown on preliminary Plan 80160R, as at
November 5, 1980 are therefore calculated as follows.
Part 1: 2,723 sq. ft. @ $.48/sq. ft. = $1 ,307.04
Part 2: 848 sq. ft. @ $.48/sq. ft. = $ 407.04
Part 3: 1 ,873 sq. ft. @ $.48/sq. ft. = $ 899.04
Part 4: 0.70 sq. ft. NIL
Part 5: 59 sq. ft. @ $.48/sq. ft. = $ 28.32
CERTIFICATE OF APPRAISER
I hereby certify that I have personally inspected the property appraised, and
that the statements contained herein are true and correct to the best of my
knowledge and belief.
I have no personal , present or contemplated interest in the property herein
appraised.
G.L. Post, C.R.A.
Land Purchase Division
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