City Council Agenda and Packet 2013 05 21 - PG 160 - ATTACHMENT #3

Home Browse Search

PART 2 — FACTUAL DATA — LARGER PARCEL BEFORE TAKE Identification of Larger Parcel Before Take Appraisal for eminent domain is unique in that it requires consideration of damages and/or benefits to the residue property after take when a partial taking occurs, thus the larger parcel from which a taking will be made must be determined. Three conditions establish the larger parcel for the consideration of compensable damages and/or special benefits. The three conditions include the portion of a property that has: • unity of ownership • contiguity • unity of use In the subject case, the larger parcel is defined as the property owned by the City of Louisville, legally described as Tract A,Colony Square,County of Boulder,State of Colorado. The property legally described in this fashion comprises the larger parcel for this assignment, consisting of 2.676 acres according to the project plans. For information, the property is assessed by Boulder County under Property Identification Number 157713010008. The County shows the parcel size to be 2.6 acres. The subdivision plat shows the parcel size to be 2.2614 acres. The plan area has been adopted for this assignment. Location Analysis Summary Provided in the addenda is a detailed description and analysis of the external market influences affecting the general subject area. What follows is a summary of the specific locational factors having a bearing on the subject property. • The property is located on the northeast side of US Highway 36 (Denver—Boulder Turnpike) south of the Colony Square Shopping Center off McCaslin Boulevard. This project includes a Home Depot and a Lowe's along with a Regal Stadium 12 theater and a number of restaurants, offices and other retail properties. The subject is immediately south of the theatre and Home Depot. • West of the property are rural residences along Dyer Road, an extension of W. Dillon Road west of McCaslin. • On the east side of McCaslin is the Centennial Gateway development offering a Courtyard by Marriott and a Hampton Inn along with several restaurants. • There is a multi—tenant office complex, Corporate Center at Centennial Valley, located northeast of the subject. West of Centennial Parkway which leads to the Corporate Center, West Dillon Road narrows and becomes Dyer Road.This dead—ends west of the subject parcel. • Open space lands are situated northwest of the subject as well as south of the turnpike. • The heart of the Town of Superior is located south and west of the subject area, offering retail, office and residential properties. Homes include single—family detached homes in addition to townhomes and condominium units. More details of both Superior and Louisville are provided in the general location analysis in the addenda. • Economically developable parcels in the subject area are poised for further development when conditions warrant. 9 Bonnie Roerij & .Associates, LLC Real Estate .Analysts - `Valication Consultants