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HomeMy WebLinkAboutR-2007-023 Terrace Heights Sewer District Utility Easement AgreementRESOLUTION NO. R-2007- 23 A RESOLUTION authorizing the City Manager to execute all documents related to a utility easement agreement between the City of Yakima and the Terrace Heights Sewer District. WHEREAS, The Terrace Heights Sewer District has requested a utility easement for construction of two parallel sewer force mains across a portion of city property adjacent to and north east of the Wastewater Treatment Plant as attached hereto and incorporated herein as Exhibit "A"; and WHEREAS, the Terrace Heights Sewer District must replace their older 10" sewer force main with two parallel 12" force mains to accommodate additional sewer flows from the addition of the City of Moxee to their collection system and for future growth; and WHEREAS, the Wastewater Division has been working with the Terrace Heights Sewer District for over a year on this easement; and WHEREAS, there was no recorded easement for their existing sewer force main; and WHEREAS, the contract for this work has been awarded and the contractor is waiting to install this sewer force main; and WHEREAS, the City Council finds that it is in the best interest of the City to authorize a utility easement agreement with Terrace Heights Sewer district, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA: The City Manager is hereby authorized and directed to execute all appropriate and necessary documents to complete the utility easement agreement with the Terrace Heights Sewer District. ADOPTED BY THE CITY COUNCIL this 6th day of February, 2007. David Edler, Mayor AFTER RECORDING RETURN TO: City of Yakima Clerks Office 129 North 2nd Street Yakima, WA 98901 i'LRRACE HEIGHTS SEWER DISTRICT EASEMENT FOR SANITARY SEWER FACILITIES THIS AGREEMENT, made this (6' day of +a-brUiry , 20 0'7 by and between the City of Yakima, a Washington municipal corporation, hereinafter called the Grantor, and the Terrace Heights Sewer District, Yakima County, Washington, a municipal corporation, hereinafter called the Grantee, in consideration of $ QUO , the cost determined by applying the agreed upon value of twenty five cents ($ .25) per square foot to the thirty nine thousand six hundred (39,600) total square feet of the granted easement set forth herein or, in the alternative to the twenty five cents ($0.25) per square foot calculation, an actual professional appraised value per square foot for the total easement set forth herein so long as that value is provided to the City within thirty days of execution of this easement agreement, said consideration to be paid to Grantor within thirty (30) days of execution of this easement agreement, provides the following: WITNESSETH: For valuable consideration, receipt of which is hereby acknowledged and included herein, the Grantor, its successors and assigns, hereby grants and conveys to the Grantee, its successors and assigns, a non-exclusive easement and right-of-way twenty (20) feet in width and one thousand nine hundred eighty (1,980) feet in length, more or less, as depicted on the engineer's site map attached hereto and incorporated herein as Exhibit "A", over, under, upon and through a portion of that certain real property situated in the County of Yakima, State of Washington, for the purpose of construction, reconstruction, operation, maintenance and repair, replacement, enlargement and removal of two twelve -inch diameter wastewater force mains, which real property and easement are more particularly described as follows: Reference Surveys Book 43, Page 68, AFN 7362543 & Book 48, Page 83, records of Yakima County, Washington. Qc�xcs� \ct\32�,-32�5 \S 2 —\ -► �yc '3 5� �, Vis, k3 R9�\�1 Page 1 of 3 11 YAK IMA CITY CLERK 1 11 1 1 1 111 11 7550603 Page: 1 of 4 02/27/2007 03:39P EAS $35,00 Yakima Co, WA A tract of land being that part of Parcel 191328-32005 & 191329-44003, as described in Auditor's File Numbers 2512820 and 2526733, Sections 28 and 29, Township 13 North, Range 19 East, W.M., Yakima County, Washington, more particularly described as follows: Beginning at the Center Quarter comer of said Section 28, a brass cap monument, LCR AFN 7036414, from which the South Quarter corner (LCR 2M-808) of said Section 28 bears South 00°50'57" West, 2610.62 feet; thence South 65°43'45" West, 1967.82 feet, to a point on the Southerly Right -of -Way line of SR 24, Engineers Station 86+90.00, 85.00 feet right, per WSDOT Job Number 04Y014, Alignment and Right -of -Way Plans, the TRUE POINT OF BEGINNING; thence North 79°28'32" West, along said SR 24 Right -of -Way line, 14.14 feet; thence South 34°28'32" East, 18.29 feet; thence South 33°46'06" West, 492.00 feet; thence North 88°05' 16" West, 665.90 feet; thence North 87°27'37" West, 712.80 feet; thence North 41°21'28" West, 6.88 feet; thence North 87°26'46" West, 64.77 feet; thence South 02°50'40" West, 48.43 feet; thence South 87°09'20" East, 15.00 feet; thence North 02°50'40" East, 28.50 feet; thence South 87°26'46" East, 41.36 feet; thence South 41°21'28" East, 6.88 feet; thence South 87°27'37" East, 721.42 feet; thence South 88°05'16" East, 677.13 feet; thence North 33°46'06" East, 516.67 feet, to the Southerly Right -of -Way line of SR 24; thence North 34°28'32" West, along said SR 24 Right -of -Way line, 11.84 feet; thence North 79°28'32" West, along said SR 24 Right -of -Way line, 14.14 feet to the TRUE POINT OF BEGINNING. TOGETHER WITH the right to enter upon, over and along said real property hereinbefore described, to construct, inspect, repair, alter, modify, replace, remove and update the sanitary sewer facilities, provided that such shall be accomplished in a manner that existing and future private improvements shall not be disturbed or destroyed, or in the event that they are disturbed or destroyed, they will be replaced or repaired, as nearly as practicable, to as good a condition as they were immediately before the property was entered upon by the Grantee. The Grantee shall leave the easement property in a level graded condition following sewer force main installation. Grantee shall remain solely responsible for the existing asbestos -cement wastewater line that is to be abandoned on Grantor's property when the new sewer force mains are placed into service. The existing asbestos -cement line shall remain in place and Grantee shall provide an accurate site map identifying the location of said abandoned line to the Grantor. Any cleanup work associated with the abandoned wastewater line that may be required at any time in the future shall be provided solely at the cost and responsibility of Grantee. If the Grantor should sell said easement property or construct permanent surfaces upon said easement property identified hereinabove, Grantee shall have the option of relocating the sewer force mains away from the easement property that is subject to sale or construction of permanent surfaces, at its sole cost and labor, or shall be solely responsible for the repair of said permanent surfaces should it become necessary for Grantee to remove said surfaces for repair to its lines. Page 2 of 3 11 N YAKIMA CITY CLERK 1 1 1 II 11 1 1 11 7550603 Rage, 2 of 4 02/27/2007 03:39P EAS $35,00 Yakima Co, WA Any such repairs to permanent surfaces shall restore said permanent surfaces to as good a condition as is practicable to match the condition they were in immediately before the work Grantee performs. Other than construction of permanent surfaces, the Grantor shall not place or construct any building, wall, fence, rockery nor plant large shrubs or trees within the boundaries of said easement area. The permanent rights herein granted to the Grantee shall continue with the land and be in force until such time as the Grantee, its successors and assigns, shall permanently abandon the same and upon such written removal or abandonment, all rights hereby granted shall terminate. THE GRANTORS warrant that the Grantors have good title to the above property and warrants the Grantee title to the easement conveyed herein. IN WITNESS WHEREOF, the Grantors have executed this instrument the day and year first written above. R. A. 's. Jr.. Yakima A. is, Jr., Yakima City Manager STA I OF Nl46l�b c3i.) ) ) ss County of }' 4L11''J" ) On this te, day of T------E13044-ky before me personally appeared R.4. t5 , and - J to me known to be the r i&-1ss_ and --- �.. __ of the corporation that execut d the foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said corporation, for the uses and purposes therein mentioned, and on oath stated that g.4. 7 i 12.1 !iry / ) is authorized to execute said instrument and that the seal affixed is the corporate seal of said corporation. GIVEN under my hand and official seal the day and year in this ce STATE OF WASHINGTON MICHELLE L. WILTSEY NOTARY PUBLIC COMMISSION EXPIRES MARCH 15, 2010 'ficate above written. print itit teil 2-- tom, Notary Public in and for the State of residing in /M/W— County. My Commission expires: ,x-15 = /b Page 3 of 3 11 11 u 11 AKIMR CITY CLERK 1 11 1 1 II 11 11 11 11 7550603 Page: 3 of 4 92/27/200? 03:39P ERS X35,00 Yakima Co, WR N. - .447:9:Z. ' AO 4 N. cl NCO ,�CQ dHO IdHO — Id HO I dH0 dHO .00.0Z dHO a d H 0 dHO - EXHIBIT "A" I�IINM�n�ll YAKIMA CITY PI Pk 11 1 11 COQ 7550603 Page: 4 of 4 02/27/2007 03:39P mit AA Vsl11Me P„ lel BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. '1'19 For Meeting Of 2/6/2007 ITEM TITLE: A resolution authorizing a utility easement agreement between the City of Yakima and Terrace Heights Sewer District. SUBMI fI ED BY: Max Linden, Wastewater Utility Engineer CONTACT PERSON/'TELEPHONE: Max Linden, Wastewater Utility Engineer (509) 249-6814 SUMMARY EXPLANATION: Staff respectfully requests City Council consideration of a resolution authorizing the City Manager to execute all documents related to a utility easement agreement between the City of Yakima and the Terrace Heights Sewer District for the installation of two 12" parallel sewer force mains over, under and through a portion of City of Yakima property that is adjacent and North East of the Wastewater Treatment Plant. (Continued on next page) Resolution X Ordinance _ Contract _ Other (Specify) Funding Source: APPROVED FOR SUBMITTAL: �.�.�► ity Manager STAFF RECOMMENDATION: Adopt a resolution to authorize the City Manager to execute all documents related to a utility easement agreement between the City of Yakima and the Terrace Heights Sewer District for the installation of two 12" parallel sewer force mains over, under and through a portion of City of Yakima property that is adjacent and North East of the Wastewater Treatment Plant. BOARD/COMMISSION RECOMMENDATION: COUNCIL ACTION: Resolution adopted. RESOLUTION NO. R-2007-23 The Terrace Heights Sewer District has requested a utility easement for construction of two parallel sewer force mains across a portion of city property adjacent to and north east of the Wastewater Treatment Plant as attached hereto and incorporated herein as Exhibit "A". The Wastewater Division has been working with the Terrace Heights Sewer District for over a year on this easement so that they can replace there older 10" sewer force main with two par(7. LiC ± . force mains w al.COiflITkuuc.LC auu2LIu1LcU Jewer flowsiroiit ULe addition or the City of Moxee to their collection system and for future growth. The Terrace Heights Sewer District has not submitted an appraisal to the City of Yakima at this time. If the council wishes to put a cost on this easement we recommend a price of $0.25 per square foot based on experiences with recent sales and easements of city properties adjacent to the Wastewater Treatment Plant. This would be a total of $9,900 for the permanent leltl LA llllly easement. APPRAISAL REPORT 7 APPRAISAL PERMANENT SEWER EASEMENT SR -24 to TREATMENT PLANT YAKIMA, WA 98901 Valuation Date January 25, 2007 Prepared For Terrace Heights Sewer District Attn: Mr. Norm Anderson 2812 Terrace Heights Drive, Suite 2 Yakima, Washington 98901 By Steve Korn, SRA KORN'S APPRAISAL,SERVICE YAKIMA, WASHINGTON Table of Contents Page No. Item 1-2 Appraisers Letter of Transmittal 3-4 Subject Pictures 5 Purpose of Appraisal 5-7 General Description of Area 7 Description of Subject Property 7 Assessed Value & Taxes 8-9 Zoning & Highest & Best Use 9-12 Sales Comparison Approach -Value of the Land 12 Total Value of Easement 13-14 Limiting Conditions & Assumptions 15 Appraiser Certification 16-17 Appraiser Qualifications ADDENDA 18 Plat Map 19-20 Comparable Land Sale Pictures 21 Location Map - Land Sales 22-23 Maps Showing Easement 24 Legal Description of Easement KORN'S APPRAISAL SERVICE YAKIMA, WASHINGTON 98902 7Kduatual - ea itoce teial - 9424ica - iastced Korn's Appraisal Service January 25, 2007 Terrace Heights Sewer District Attn: Mr. Norm Alderson 2812 Terrace Heights Drive, Suite 2 Yakima, Washington 98901 Dear Mr. Alderson: 602 SO. 5TH AVENUE YAKIMA, WA 98902 509-248-7010 FAX 509-457-7766 In accordance with your request, I have valued a 20 foot permanent sewer easement from SR -24 to the Yakima Regional Wastewater Treatment Facility, which consists of approximately 44,000 square feet of land. The property is owned by the City of Yakima, and is legally described as follows: Section 29 Township 13 Range 19 Quarter SE: TH PTN W1/2 SW1/4LY W'LY W BANK YAKIMA RIVER, AND S'LY STATE HIWAY NO. 11-A AND N'LY S LN OF PARCEL OF LAND 40 FT IN WIDTH BEING 20 FT EACH SIDE FOL DESC CENLN: BEG 20 FT S NW COR SW1/4 SW1/4, TH S 42^ 41' 21" E 681 FT M/L TO W BANK YAKIMA RIVER ALSO TH PTN W1/2 SW1/4 SEC 28 AND SE1/4 SE1/4 SEC 29 AND NE1/4 NE1/4 SEC 32 AND NW1/4 NW1/4 SEC 33 LY WITHIN 200 FT ORD HIGH WATER MARK OF YAKIMA RIVER. I have inspected the above property and have considered factors relative to value including an investigation and examination of numerous property sales which form the basis for comparison to the subject property. An effort was made to find sales close to subject property, however, other areas have been researched and adjustments have been made for differences. Since building improvements are not present, a cost approach has not been completed. A Sales Comparison Approach, which directly compares the subject property to sales of other properties has been completed. Subject easement is over a former spray field adjoining the Yakima Regional Wastewater Treatment Plant, which is owned by the City of Yakima. The total property consists of 41.25 acres, which is at the intersection of SR -24 and the Yakima River, and is also just east of The K -Mart Department Store. Part of the easement will be over East Viola Avenue, just north of the Plant. The total size of the easement is approximately 44,000 square feet, which has been estimated by Gray & Osborne, Inc., consulting engineers. The method employed in valuing the easement was to value the total property before and after the easement, with the difference being the value of the easement. Because this is an easement, and does not include full ownership, generally 25-50% of the fee is considered to be a reasonable, and typical value of this type of easement. Because of subjects rather poor location adjacent to sewer plant, and in a flood plain, 25% of the value of the fee is indicated, and considered reasonable. Based upon the above, and information contained in the attached report, I am of the opinion that the market value of the above described property, subject to the assumptions and limiting conditions attached, was as of January 25, 2007 FOUR THOUSAND NINE HUNDRED & NO/100 DOLLARS ($4,900) Definition of Market Value: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well infoliiied or well advised; and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. I certify that I have no interest in the subject property either present or contemplated, and that the appraisal fee charged was in no way contingent on the value reported. KORN'S APPRAISAL SERVICE Steve Korn, SRA -2- KORN'S APPRAISAL SERVICE YAKIMA, WASHINGTON 98902 Ticduetnial - eoototeuial - 7auusca - `slcisrcea SUBJECT PROPERTY PHOTOS orrower: File No.. 1812108 roperty Address: E. Viola Ave (easement) City: Yakima nder: Terrace Heights Sewer District 1 1 Case No,: State: WA Zip: 98901 1 1 1 1 1 -3- PROPOSED EASEMENT LOOKING EAST ACROSS SPRAY FIELD TOWARD RIVER BONNEVILLE POWER LINES ACROSS PROPERTY korrower: SUBJECT PROPERTY PHOTOS File No.: 1612108 rooerty Address: E. Viola Ave (easement) Case No.: City: Yakima Itender: Terrace Heights Sewer District State: WA Zip: 98901 1 1 1 1 1 1 -4- PROPOSED EASEMENT E. VIOLA LOOKING EAST PROPOSED EASEMENT E. VIOLA LOOKING WEST OSTENSIBLE OWNER: The City of Yakima ADDRESS OF THE PROPERTY: Southeast quadrant of SR -24 and the Yakima River just east of I-82, Yakima, Washington. PURPOSE OF THE APPRAISAL: The purpose of the appraisal is to set forth a supported opinion of the market value of the easement over subject property. The report is a Summary Report and is prepared under Standard Rule 2-2 of the Appraisal Standards Board of the Appraisal Foundation. Because this property contains only vacant land, cost and income approaches are not relevant, and only a Sales Comparison Approach will be completed. Because the owners are sufficiently familiar with the property, the report will contain a summary of all information considered significant to the solution of the appraisal problem. GENERAL DESCRIPTION OF THE AREA Regional Data The Pacific Northwest region, comprised of the States of Washington, Oregon, Idaho and Western Montana, supports a population of over 6.5 million with an annual gross income of over $12.5 billion. This is a region that encompasses about 10% of the area of the United States, and contains within its borders, a great diversity of climate, topography and economic endeavors. As it contains a relatively small portion of the national population, it is a comparatively small consumer market. The State of Washington is one of the faster growing states in the nation. Planners are expecting a population increase of 15% in the next 10 years to approximately 4.5 million. Within this Northwest area are three sub -regions where about 80% of the regions population reside, These are the Puget Sound, the Lower Columbia and the Inland Empire sub -regions, each with its own economic capitols, being Seattle, Portland and Spokane, respectively. The Puget Sound area is separated from the Eastern portion of the State of Washington by the Cascade Mountain Range, and this extends from Canada to the north, to Olympia at the south end of Puget Sound. This sub -region consists of 13 counties surrounding Puget Sound, accounting for a small portion of the State's land area, but supporting about 67% of the total population of the State. -5- KORN'S APPRAISAL SERVICE YAKIMA, WASHINGTON 98902 `getua t al - eoticoceitrial - 7auacd - qtufte4 GENERAL DESCRIPTION OF THE AREA (Cont) The lower Columbia sub -region is the area around Portland and Vancouver. The Inland Empire sub -region is the area on the east side of the Cascade Mountain Range, and is semi -arid desert where farmers raise livestock and wheat on large ranches. They grow fruits and vegetables in fertile, irrigated river valleys such as the Okanogan, Wenatchee and Yakima Valleys. Delicious apples and numerous other varieties are a Washington specialty. Washington leads the states in apple production. Regional Data Spokane, the largest eastern city, is an important railroad, manufacturing, grain and financial center. The Tri -Cities of Richland, Pasco and Kennewick in south-central Washington grew in size and importance starting in 1942, when production of plutonium for the world's first atomic bomb started. Yakima and Wenatchee are cities with economies based upon agriculture, with the bulk of the crops being apples. YAKIMA COUNTY Yakima County is located in the southern portion of what is considered to be Central Washington. It stretches from the crest of the Cascade Mountains to the Columbia River with a total area of 4,275 square miles. This makes it the second largest county in the State of Washington in terms of land. It has a diverse topography consisting of the western side as rough, densely timbered mountainous terrain turning into rolling foothills with broad valleys and then a broad expanse of flatlands originally covered with sagebrush. The eastern half of Yakima County is agriculture intensive. Through this arid portion flows the Yakima River, from which a complex network of irrigation systems carry large volumes of water to the farms and orchards of this region. Yakima County had an established population of 204,100 in April 1995 and ranked 8th in the state in population. In per capita income, Yakima County ranked 24`h in the state, with a 1993 level of $17,573. The county includes towns in the Lower Valley such as Harrah, Wapato, Toppenish, Zillah, Granger, Sunnyside, Mabton and Grandview. The Upper Valley towns include Tieton, Naches and Selah.. Yakima is in between the Upper and Lower Valley areas, and is the largest city in the county. Much of the land is tax-exempt because of the Yakima Firing Center and the Yakima Indian Reservation. Yakima County is #1 in the state in production of apples, hops, sweet cherries and mint. Like the population of Yakima County, the City of Yakima has grown consistently over the past thirty years. This growth is outlined as follows: City of 1980 1990 1997 1999 2000 Yakima 49,826 54,827 63,510 65,500 71.845 Urban Area 86,788 82,904 115.683 118,987 128,615 Yakima County 172,508 188,823 208,700 212,300 222,581 -6- KORN'S APPRAISAL SERVICE YAKIMA, WASHINGTON 98902 % u'ai - eosttsfce teiQ,r�� � - 9a/tord - � cufred GENERAL DESCRIPTION OF THE AREA (Cont) YAKIMA Yakima is the principal city and county seat of Yakima County. It is allocated at the junction of the Yakima and Naches Rivers, on the floor of the Yakima Valley. It is 17.4 square miles in size. t is 145 miles southeast of Seattle, 200 miles southwest of Spokane and 180 miles northeast of Vancouver, Washington. Yakima was incorporated in 1886, has a Council -Manager type of government, has a land area of 19.26 miles, an assessed valuation of $2,591,498,001 and ranks 9th in size in Washington State. There are over 250 manufacturing firms in the Yakima area which produce a variety of products including farm implements, wood products, packaging, plastic products, clothing, aircraft parts and recreational vehicles. Yakima is the State's leader in value of farm output, with a mature and diverse agricultural base. Yakima continues to be a leader among all counties in the nation in the production of apples, hops and sweet cherries. It is sixteenth nationally in value of total agricultural products sold. With its farm production base, the Yakima area is also a major food processing region. The Yakima Mall, situated in downtown Yakima, is currently undergoing some proposed changes froma mall to a life style complex, with a new hotel being planned. The downtown is going to be seen as a Cultural Center, with the Capitol Theatre undergoing a $12 million dollar expansion. Transportation facilities and access into and within Yakima County are good. The Yakima Airport at McAllisted Field is located approximately firy miles southwest of downtown Yakima and is owned by Yakima County and the City of Yakima. It consists of two main runways, both of which have an asphalt surface. The first runway is 7,603 feet in length and 150 feet wide. It uses High Intensity Runway Lighting System (HIRL). The second runway is 3,835 feet in length and 150 feet wide. The second runway uses a Mediun Intensity Runway Lighting System (MIRL). The Yakima Air Terminal is an instrument airport utilizing a number of landing an navigational aids. Yakima Regional Airport is serviced by Horizon Airlines with connections to 34 cities throughout the northwest with both passenger and freight service. In 2000 the airport had 84,060 boardings, averaging 230 daily, not including chartered flights. It has been listed as one of the fasest growing airports in the country. It is designated as a U.S. Customs Port of Entry and a Foreigh Trade Zone. Between 1990 and the year 2000, the handling of air freight is expected to increase 4.2% per year. This average annual growth rate would result in 260,009 total enplanements in the year 2020. Enplanement forecasts by the Washington State Transportation Commission range from a low of 180,556 enplanements in the year 2020 to a high of 375,734 in this same year. The highway system network connecting Yakima with the rest of the country are Interstate 82 and State Routes 12, 24, 410 and 97. Rail service is provided by Washington Central Railroad and Union Pacific. Bus transportation within the county is by the Yakima City Transit System and with other major communities by Grayhound. Services for the elderly and handicapped are provided by a service called People to People. There are also 40 truck lines that provide freight service within Yakima County. The availability of a good labor force, reasonable land costs, transportation facilities and a central location in the Pacific Mountain States provide a basis for Yakima county's development into a major regional distribution center. -7- KORN'S APPRAISAL SERVICE YAKIMA, WASHINGTON 98902 7.cduatial - eo.,cHcencial - j?auocd - 'q=oocee DESCRIPTION OF SUBJECT PROPERTY Because this is a Summary Appraisal, and because all parties concerned with the appraisal are generally familiar with the subject property, a brief description of the subject property is set forth below for a general understanding of the valuation process and the limitations of the subject property. The subject property, as can be seen on the attached map, is located in the southeastern portion of the City of Yakima, just east of I-82 and the Yakima Regional Wastewater Treatment Plant, and south of SR -24, which is about 3-4 miles southeast of the downtown core area of Yakima. Subject parcel consists of 41.42 acres of land, which is currently zoned SR, Suburban Residential. The City has indicated that the land will soon be re -zoned to Light Industrial. The property is irregular in shape, with a long narrow portion located south along the Yakima River, and in the Flood Plain. There are also some Bonneville Power Easements across the front portion of the property. Subject easement runs from SR -24 just north of the Yakima River at a slight diagonal to the east end of E. Viola Avenue, along E. Viola Avenue to the treatment plant. The easement across the spray field is 20 feet wide, and 15 feet wide along E. Viola Avenue, with the total size of the easement being approximately 44,000 square feet. ASSESSED VALUE AND TAXES Assessed value for 2007 on subject property is as follows: Improvements Land $ -0- $ 2,319,500 Total assessed value = $2,319,500 Total taxes for 2006 are $ -0- The assessed value of the land reflects $1.25 per square foot, and is substantially higher than could be found in the market at the present time. ZONING The subject property is zoned SR -Suburban Residential The purpose and intent of the suburban residential district is to provide a variety of residential lifestyles with densities generally ranging from two units per net residential acre to seven units per net residential acre. The higher densities are permitted when a public water system and the regional sewer system are used, or these utilities are not available, when community water and sewer systems re present. This district is characterized by a mixture of land uses and residential densities including small farms, scattered low-density residential development and clusters of higher -density residential development. The minimum lot size in the district varies according to the suitability of the land for development and provision of urban level services. -8- KORN'S APPRAISAL SERVICE YAKIMA, WASHINGTON 98902 T•rotecaual - eoscticeuial-'7au-rcd - qcNacee HIGHEST AND BEST USE The purpose of this section is to analyze alternative uses of the subject property to ascertain which single or possible combination of complementing uses would prove more profitable to the owner, based on present market behavior. The highest and best use has been defined as "that use which, at the time of the appraisal, is more likely to produce the greatest net return to the land and/or building over a given period of time". In the context of market value, highest and best use is also defined as: "The reasonable and profitable use that will support the highest present value, as defined, as of the effective date of the appraisal". Alternatively, it is that use, from among reasonable, profitable and legal alternative uses, found to be physically feasible, and which results in the highest land value. In cases where a property has existing improvements on it, it is to be recognized that the highest and best use should include the following reasonable sequences of thought. 1) To what use is it physically possible to put on the site in question? 2)What uses are permitted' by zoning and deed restrictions? 3) What possible and permissible uses will produce the highest net return to the owner of the site? and 4) The use must be profitable, not speculative or conjectural, there must be profitable demand for such use, and it must return to the land, the highest net return for the highest period of time. The present zoning was discussed with the City of Yakima, and it was determined that this property would not be typical residential, or desirable residential property. Surrounding uses include: Commercial, and Light Industrial. It is felt that the northerly and westerly portions of this property would be in this category for future development, with the subject (easement area) being located to the southern portion of the property, and generally less desirable for development. Because of subject property (easement) location adjacent to Yakima Regional Wastewater Treatment Plant, and with most of the property being in a flood plain, and also encumbered with overhead power easements, it is unlikely subject would ever be used in a residential way. The City of Yakima is planning to re -zone this area to Light Industrial, which because of the adjoining properties would seem reasonable. Subject easement is located toward the southern, less valuable area of subject property, and it is felt that a value between residential and industrial would be warranted, therefore, under highest and best use considerations, and with the zoning as stated above, the highest and best use of subject, would be as it is currently being used, or as discussed above. SALES COMPARISON APPROACH -Value of the Land The Sales Comparison Approach to value attempts to compare similar sold properties to subject. The value of the land has been estimated from comparable sales in the general area, that could be used for similar purposes. The following sales are used to show land values in the general area, and if possible, similar size parcels should be used for more direct comparison. In most cases, larger parcels of land tend to indicate lower per square foot values, and this condition was also found in this investigation. Items of location, access, utilities and desirability become judgment factors and are generally compared on a more valuable or less valuable basis. Older sales have been raised by 5% per year to reflect time increase. -9- KORN'S APPRAISAL SERVICE YAKIMA, WASHINGTON 98902 leedadefteal 6:ow:te te-eat - 91424itct — rf'Os eed SALES COMPARISON APPROACH -Value of the Land (Cont) Based upon the above, the following properties are listed for comparison to the subject property. The following sales, which were considered relevant to the subject land pricing are listed below: 1. Pratt Enterprises, L.P. to Industrial Properties, Inc Date of Sale. Sale Price: Land Area: Location: 10/29/2003 $850,000 19.08ac/831,125 sq.ft. Valley Mall Blvd & Longfibre Rd. Union Gap, Washington This is a rectangular shaped parcel of M-1 zoned industrial land that is more or less level and at grade with Valley Mall Boulevard, which forms its northern boundary. This tract is located at the northern edge of Union Gap, which provides all utilities and services to this area. This sale shows $1.02 per square foot, or would now show about $1.17 per square foot if adjusted for time. 2. David Waterbury to East Valley School District Date of Sale: 4/25/2006 Sale Price: $412,250 Land Area: 16.74 ac./729,194 sq.ft. Location: 7502 Mieras Road, Moxee, Washington This rectangular shaped property, which is zoned R-1 single family residential, is located just south of Mieras Road and east of Beaudry Road, and adjoining purchasers property. The property has access to city services from Moxee. This sale shows $.56 per square foot, or about $.58 per square foot with time adjustment. -10- KORN'S APPRAISAL SERVICE YAKIMA, WASHINGTON 98902 SALES COMPARISON APPROACH - Value of the Land (Cont) 3. Rich Hochrein to Cottonwood Partners, LLC Date of Sale: Sale Price. Land Area: Location: 3/27/2006 $650,000 25.66 ac/1,117,749 sq ft. 72nd Ave and Coolidge Rd Yakima, Washington This is the sale of two rectangular shaped parcels located at the northwest corner of So. 72nd Ave and Coolidge Road which form the east and southern boundaries respectively. The property has some view to the north, and both streets are paved. The property is outside the city limits and does not presently have access to water and sewer. The sale shows $.58 per square foot, or .60 per square foot when adjusted for time. 4. Powell Family of Yakima L.P. to A & B Plastics, Inc Date of Sale: Sale Price: Land Area: Location: 7/23/1997 $525,000 22 ac/958,320 sq.ft. 240 So. 3rd Avenue Union Gap, Washington This is an irregular shaped tract of M-1 industrially zoned acreage that slopes down gradually in a southerly direction with the grade of so. 3rd Avenue which forms its western boundary, into Wide Hollow Creek, which runs through in the southern edge of the property. There was a sewer line along the western edge of the land, and water was to the northern edge. The city of Union Gap provides utilities and services to this area. Property sold for $.55 per square foot, or .80 per square foot with time increase.. -11- KORN'S APPRAISAL SERVICE YAKIMA, WASHINGTON 98902 %tial - ,ecuoto e/reial - 7auird - ' ooced SALES COMPARISON APPROACH - Value of the Land (Cont) The above sales show a range of value from $.58 to $1.17 per sq.ft. Sales 1 and 4 are both industrial sales and show .52 to .76 per square foot, when adjusted for differences. Sales 2 and 3 are residential sales, and show .58 and .60 per square foot, or .44 and .45 per square foot when adjusted for size and location. Some of subject property at the northern end would be worth more and would be lower valued at the southern end closer to the river. Based upon all above information, subject property is indicated at $.44 per square foot overall, or would show as follows: Value before taking 42.41 acres/1,847,379 sq.ft. @ $.44/per sq.ft. = $812,846 - 44,000 sq.ft.(easement) Value after taking 1,803,379 sq.ft. @ $.44/per sq.ft. = $793,486 -75% (easement) Total Value of Easement -12- KORN'S APPRAISAL SERVICE $ 19,360 - 14,520 $ 4,840 Rounded $ 4,900 YAKIMA, WASHINGTON 98902 Vouf `datial - eostoteizeiai - 9a/twid - qostea ASSUMPTIONS AND LIMITING CONDITIONS The appraiser certification that appears in the appraisal report is subject to the following conditions: 1. Total land area was taken from records available. No survey of the property was examined. 2. All dimensions and legal descriptions are assumed to be correct as found through available records or on -the -ground inspection. No guarantee is made as to correct legal description or acreage. 3. No title report was examined. Good title is assumed with no value depreciating encumbrances. 4. No legal questions are considered, such as titles, encumbrances, etc. the property is appraised as though free and clear. 5. All information as found in data fiirnished is deemed to be reliable. If any errors are found, the right is reserved to modify the conclusions reached. 6. No guarantee is made as to the correctness of estimates or opinions furnished by others and used in making this report. 7. In computing values, figures has usually been rounded off to the nearest significant figure. 8. This appraisal should be used for the purpose stated and should not be used in whole or in part for any other purpose. 9. Where the value of the land and the improvements is shown separately, the value of each is segregated only as an aid to better estimate the value of the whole, and the value shown for either may or may not be its correct fair market value. 10. Employment to make this appraisal does not require testimony in court with reference to the property, unless mutually satisfactory arrangements are made previously. 11. This appraisal is made in conformity with the standards of the Appraisal Institute, of which I am a member. 12. Neither all nor any part of the contents of this report shall be conveyed to the public through advertising, public relations, news sales or other media, without the written consent and approval of the appraiser, particularly as to the valuation conclusions and identify of the appraiser or firm with which he is connected, or any reference to the SRA designation. -13- KORN'S APPRAISAL SERVICE YAKIMA, WASHINGTON 98902 7.cdc at7.ial - ea..c..ce rcial - 7auoca - s a.acea ASSSUMPTIONS AND LIMITING CONDITIONS (Cont.) 13. The appraiser assumes that there are no hidden or unapparent conditions of the property, subsoil, all attached equipment and fixtures, or structures that would render it more or less valuable. The appraiser assumes no responsibility for such conditions or for the engineering that might be required to discover such factors. Equipment is assumed to be of sufficient capacity and good working order for the property. 14. The appraiser is not aware of any existing hazardous substances on or within the subject land, or any other environmental conditions present that may be of a detrimental nature. The appraiser is not an expert on these items, however; any clearance on environmental items should come from recognized experts. 15. Appraisal fee charged was in no way contingent on the valuation of the property. ENVIRONMENTAL DISCLAIMER: The value estimated is based on the assumption that the property is not negatively affected by the hazardous substances or detrimental environmental conditions unless otherwise stated in this report. The appraiser is not an expert in the identification of hazardous substances or detrimental environmental conditions. The appraiser's routine inspection of and inquiries about the subject property did not develop any information that indicated any apparent significant hazardous substances or detrimental environmental conditions that would affect the property negatively unless otherwise stated in this report. It is possible that tests and inspections made by a qualified hazardous substance and environmental expert would reveal the existence of hazardous substances or detrimental environmental conditions on or around the property that would negatively affect its value. -14- KORN'S APPRAISAL SERVICE YAKIMA, WASHINGTON 98902 lgeece ttzial - eaococeAcial - 9azHcd - ecuoted I certify that, to the best of my knowledge and belief, - the statements of fact contained in this report are true and correct to the best of my knowledge. - the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, professional analyses, opinions and conclusions. - I have no present or prospective interest in the property that is the subject of this report. - my compensation is not contingent on an action or event resulting from the analyses, opinions, or conclusions in, or the use of, this report. - my analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP) as adopted by the Appraisal Standards Board of the Appraisal Foundation, and with the requirements of the Code of Professional Ethics and the Standards of Professional Practice of the Appraisal Institute. - the appraisal assignment was not based on a requested minimum valuation, a specific valuation, or loan approval. The employment of the appraiser was not conditioned upon the appraisal producing a specific value or value within a given range. - the Appraisal Institute conducts a voluntary program of continuing education for its designated members. MAIs and SRAs who meet the minimum standards of this program are awarded periodic educational certification. I am currently not certified under this program, however, am certified by the State of Washington. - I have made a personal inspection of the property that is the subject of this report. Steve Korn, SRA -15- KORN'S APPRAISAL SERVICE YAKIMA, WASHINGTON 98902 Traciatial - eaHcacereial - jla'uscd - r=ossced igloos - rxn»6, - ipm�-unssod - 71:774m;m6 20686 NOIDNIHSVM 'HWDIV) 3D1A63S 1VSIV?Jddd S.NdO>i APPRAISERS QUALIFICATIONS NAME: Steve R. Korn, SRA, RM. EDUCATION: Graduated from Eisenhower High School, Yakima, WA, Class of 1960., attended Yakima Valley College and University of Idaho, Moscow, ID. EXPERIENCE: Co-owner of Korn's Appraisal Service with Ralph Korn, MAI, since 1968. Licensed Real Estate salesman - State of Washington. Certified Residential Real Estate Appraiser Washington State Certification No. 1700508 Expires 7/12/2007. Approved as a fee appraiser for the Federal Housing Administration, 1975 thru 1999, CHUMS #2045 Approved as a fee appraiser for the Veterans Administration, 1976. Instructor - Residential Real Estate Course, Yakima Valley Community College, 1983-1995. Assistant Regional Member (Region 1) Appraisal Institute, Ethics and Counseling Division, 1992-1996. Appointed to the Real Estate Appraiser Expert Review Appraiser Roster, State of Washington, Department of Licensing, 1997 & 2004. REAL ESTATE APPRAISAL COURSES COMPLETED Society of Real Estate Appraisers: SREA-101 - Introduction to Appraising Real Property, 1969. SREA-201 - Principals of Income Property Appraising, University of Oregon, 1971. American Institute of Real Estate Appraisers: AIREA-1A - Fundamentals, MAI Teaching Lab, Chicago, IL, 1971. PROFESSIONAL DESIGNATIONS AND MEMBERSHIPS SRA - Society of Real Estate Appraisers, Chapter #181, Yakima, Tri -Cities WA. RM - American Institute of Real Estate Appraisers, Washington/British Columbia Chapter 8, Seattle, WA. (Organizations merged to Appraisal Institute in 1992). President, Yakima Chapter 181 SREA, 1979-1981. Vice -President, 1975-1976. -16- APPRAISER QUALIFICATIONS (Steve R. Korn, SRA Cont.) Representative Clients: Merrill Lynch Relocation Management, Inc., Option One Mortgage, Yakima Federal Savings and Loan, Hansen Quality Loan Services, General American Corporation, Relocation Realty Service Corp., Burlington Northern, Appraisal Enhancement Services, Stars/Cendant Mobility, Coca Cola Co., Home Purchase Corp., Transamerica Relocation Service, Coors Inc., Safeway Inc., John Deere Co., Exxon Co., USA, Dow Chemical, Crown Zellerbach, Employee Transfer Co., MGIC, PHH Homequity, Shearson/American Express Mortgage Co., Del Monte, Washington Mutual Savings Bank, Long Beach Mortgage, Metropolitan Mortgage Corp., GMAC Mortgage Co., New Century Mortgage, DiTech, Chemical Executive Relocation, FNMA, Banner Bank, Norwest Mortgage, Coldwell Banker Relocation, Prudential Relocation Management, Citibank, Interwest Savings Bank, Fremont Investment and Loan, Small Business Administration, Washington State P'arks Department, State of Washington, Yakima County Public Works, City of Yakima, City of Toppenish, City of Sunnyside, City of Grandview, City of Selah, West Valley School District, Yakima Valley Community College, Yakima Valley Memorial Hospital, Yakima Regional Medical & Heart Center, Yakima Housing Authority, Yakima Neighborhood Health Services, Yakama Indian Nation, State Farm Insurance Co., including residential, large multi -family projects, various large open land projects, eminent domain and commercial properties such as office buildings, retail buildings, industrial warehouses, etc., for various attorneys and individuals. Have completed extensive review appraisals for: Option One Mortgage, BNC Mortgage, Appraisal Enhancement Services, Lender's Service, Banner Bank, Allstate Appraisal Review, etc. Have completed appraisals on various special use properties including: Several multi-million dollar residences in Yakima, Yakima YWCA, numerous churches, and one project for Washington State Parks Department in 1993 which involved an appraisal of ancient Indian burial grounds along the Columbia River. Qualified as expert witness in Superior Court, Yakima and King Counties., and Washington State Tax Appeal Court - Olympia. -17- KORN'S APPRAISAL SERVICE YAKIMA, WASHINGTON 98902 7.cdaat al - eo.oc.,ce'rcial - au.ca - 'r a.scea KORN'S APPRAISAL SERVICE YAKIMA, WASHINGTON 98902 1 1 1 1 1 1 1 1 PLAT MAP Borrower: File No.: (612108 ' operty ' . dress: r to a ' ve easemen ase o.: City: Yakima State: WA Zip: 98901 Lender: Terrace Heights Sewer District Yakima County GIS Page 1 of 1 YAM*. County . 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P7 70ir WMt IMAMS RPM WW1* PIM MO aaW4a0 WWII SOW II it r A "AVM MIR YC 77 MCNWMTNO/ Vail OOP *WIN wet OF TMwA Mal L& -.1.111i.-.1 _ No pima DATA An a6Ji4WTO a6 AG I 4TTY out A ttiw *MP araw tplk t•r r %07 *wham- 1DnMedT MOoccuraLLO 14011 FLOOOPLAN MI PEPWI LwTO4 http:ltwww.Yakimap • 1 MI ILVISTIWITO A MIA SUMP P A/PM1$4l INA 417 NOM • conicetvIeiicom e1Wti.esnntap Brimaulname-NaikialSfitki,ctr 16447 21111'2007 1 1 1 1 -18- COMPARABLE LAND SALES orrower: File No.: 1612108 roperty Address: E. Viola Ave (easement) Case No.: pity: Yakima State: WA Zip: 98901 ender: Terrace Heights Sewer District 1 1 1 1 1 1 1 -19- SALE NO. 1 VALLEY MALL BLVD & LONGFIBRE $850,000 1012912003 SALE NO. 2 7502 MIERAS RD $412,250 4125/2006 Borrower: COMPARABLE LAND SALES File No.: 1612108 roperty Address: E. Viola Ave (easement) Case No.: State: WA Zip; 98901 City: Yakima 'rider: Terrace Heights Sewer District 1 1 1 1 1 1 1 -20- SALE NO. 3 SO. 72ND AVE & COOLIDGE RD $650,000 312712006 SALE NO. 4 240 SO. 3RD AVE $525,000 7/23/1997 LOCATION MAP - COMPARABLE LAND SALES borrower: Fite No.: 1612108 Property Address: E Viola Ave (easement) Case No.: City: Yakima State: WA Zip: 98901 Lender: Terrace Heights Sewer District 1 1 12 \ �r. reit I i 1 I 821 Pomona United Stales Weary Reservelion Yakima Trailing Center E9StSek+h ' 1z_ + Comparable Sale 2 7502 Mleras Rd Yakima, WA 98901-9721 (3.15 miles E) PRO ' • .16' Si. Comparable Sale 3 So 72nd Ave & Coolidge Rd �" iert!F+• 0• s, Q Titian 7r Yakima, WA 90903 (6.50 miles VV) Comvalleyarable Sale Mali Wird 1 & Longflbre Rd °snore Hil Blvd Union Gap, WA (1.78 miles WSW) 98903 ' .• W A' S H 1 N G BYch dell 24 1 i- Y Moms Alien+n 14 Subject toast ad ' Y A N 1 M A UAW l E. Viola Ave (easement) Yakima, WA 98901 1 J Comparable Sale 4 240 So 3rd Ave Union Gap, WA 98903 (2 30 miles SW) ,7 Union cap Yakama Indian • 9+ Parkeit Reservation 1 . { S ..y Ferran, �Redlorlel &itd ...W. Ninth ° 5.9 miss i l OM Werrneq@teetweo.wAreMOs. Ir. 1 -21- MAP SHOWING EASEMENT Borrower: File No.: 1812108 1ra property Address: E Viola Ave (easement) Case No.: City: Yakima State: WA Zip: 98901 Lender: Terrace Heights Sewer District ► - Q 9 S.R. 24 — ___________ --__ KEYS ROAD y 7. C.,-; TERRACE HEIGHTS 04) CI 04 VA ol r, �� s_ 09LST OIRCMFIEID I EAST NOB FALL 8LVD. "="1ROAD E. VIOLA AWE in .- oe W I Cr 4.1 / 1 \ — YAK:MA TREATMENT REGIONAL WASTEWATER FACILITY PROPOSED --- ---- LIFT STATION ~' I SATE ii • ,..411 I=ND EXISTING SEWER MAIN TERRACE HEIGHTS ---.-- PROPOSED SEWER MAIN ALIGNMENT SEWER DISTRICT I ----- PROPOSED 12" FORCE MAINS PROPOSED FORCE MAIN ALIGNMENT PROPOSED FORCE MAIN ALIGNMENT ON UITY OF YEKCMA PROPERTY .�� ON CITY OF YAKIMA PROPERTY SCALE: S ".1000' V1GINITY MAP VIP ChRipit Or Orlimmikek, lags =:,ii.,+44 norms 1 -22- rVIAP SHOWING EASEMENT ' borrower: rile No.: 1612108 Case No.: Property Address: E. Viola Ave (easement) City: Yakima Lender: Terrace Heights Sewer District State: WA Lip: 98901 Yakima County - Washington Land Information Portal ,1.4 411 Maul Max YaIciunap.C*m Y. 4 tt4�1 SR -24 HW u GOOD WINS EIVEACM 41401 N 47N 41401 414 N]4 (CTs 41.1411) b 3'J)t =L I NOME 101.191e..0 BONNEVILLE PO 22CG2 EASEM1h 9 1 4+003 63.15 Maw Conlin' MOVE 19 Tevamme:l 3 swllrarl:29 W W W. YAKIMAP.COM ',MOM County GIS rt4 N 9nd Strad Wades, WA WWI Cnt Inch = 4f1U Feel Feel 23B CO 6313 MAP AND PI* I. DAM MR IU R 047CURNTE 4t3' AG../d1KY 14 NOT MIA/MM1iP, TI i OW A •tGAL 7upAElr AMP *OAP NM K warm/1w ran A Tyne mann .VI*414rL * *P. ROOOPI4M Ca YCW.0 denrR:Arrorr Comp* ICI and Yaara Cwwr 114.1.11.2*, 14424vr 4 ti It PM -23- 1 1 1 1 1 1 1 EASEMENT -LEGAL DESCRIPTION Borrower: File No.: 1612108 ' Property Address: E. Viola Ave (easement) Case No.: City: Yakima State: WA Zip: 98901 Lender: Terrace Heights Sewer District 1 City of Yakima Terrace Ileights Sewer District Easement Lega] Description Parcel No.: 191328-32005 & 191329-44003 Reference Surveys Book 43. Page 68, AFN 7362543 & Book 48, Page 81, records of Yakima County, Washington. A tract of land being that part of Parcel 191328.32005 & 191329-44003, as described in Auditor's File Numbers 2512820 and 2526733, Sections 28 and 29. 'Township 13 North. Range 19 East, W.M., Yakima County, Washington, more particularly described as follows: Beginning at the Center Quarter corner of said Section 28. a brass cap monument. LCR AFN 7036414, from which the South Quarter corner (LCR 2M-808) of said Section 28 bears South 00°50'S7" West, 2610.62 feet thence South 65°43'45" West, 1967.82 feet, to a point on the Southerly Right -of -Way line of SR 24, Engineers Station 86+90.00, 85 00 feet right, per WSDOT Job Number 04Y014, Alignment and Right -of -Way Plans, the TRUE POINT OF k3E ANNING; thence North 79'28'32" West, along said SR 24 Right -of -Way line, 14.14 feet; thence South 34°28'32" East, 18.29 feet; thence South 33'46'06" West, 492.00 fee;; thence North 88°05'16" West, 665.90 feet; thence North 87°27'37" West, 712.80 feet; thence North 41°21'28" West, 6.88 feet: thence North 87°26'46" West, 64.77 feet; tbente South 02050'40" West, 48.43 feet, thence South 87009'20" East, 15.00 feet; thence North 02'50'40" East, 28.511 feet; thence South 87°26'46" East, 4136 feet; thence South 41°21'28" East, 6.88 feet; thence South 87°27'37" East, 721.42 feet; thence South 88'05'16" Fast, 677.13 feet thence North 33°46'06" East. 516.67 feet, to the Southerty Right -of -Way line of SR 24; thence North 34°28'32" West, along - „v =`: , "' -a - .' line, 11:84 feet; thence North 79'28'32" West, along said SR 24 ` ght- Lto the TRUE POINT OF BEGINNING. Z WAI 'O �� sorra 7 /. 0 1 1 1 —24—