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ANACORTES PLANNING DEPARTMENT <br /> 8.(T Y o P.O. BOX 547, ANACORTES, WA 98221 <br /> { <br /> Phone (360) 299-1943/Fax(360) 293-1938 <br /> ``'' t <br /> '' Ian S. Munce, Director <br /> MEMORANDUM <br /> TO: Mayor and City Council N.-.' <br /> I <br /> FROM: Ian Munce, Director of Planning & Community Development <br /> SUBJECT: Vintage Investments -Vacation of"E"Avenue/29th Street: Valuation <br /> DATE: February 14, 2006 <br /> As you may recall, approximately two years ago the State Legislature changed the valuation <br /> formula for street and alley vacations from up to 50 percent of value to up to 100 percent of <br /> value. Since then,the City Council and Administration have struggled with procedure and <br /> valuations on particular parcels. On a series of split votes,the City Council has in the past <br /> approved vacations that simply add to a homeowner's property using assessor's information and <br /> discounting by 10 or 20 percent if the City retains a utility easement. Individual Council <br /> members have also expressed the opinion that if new building sites are created,the City should <br /> secure appraisals. <br /> In the case of the Vintage Investment property referenced above and described in this package, <br /> City Staff paid $500 for the attached appraisal. You will also note a strong rebuttal from Vintage <br /> Investment's attorney, Steve Mansfield. <br /> r. <br /> I have scheduled this item for a Study Session so that the City Council can analyze and discuss <br /> how you wish to proceed on this matter. <br /> ISM:jks <br /> Attachments <br />