The development of a revitalization plan for Carpenter Creek and Bayou Texar is identified as a project in the 2017 RESTORE Act Multi-Year Implementation Plan (MYIP) for Escambia County Direct Component expenditures (Pot 1). The Board has already acquired a 7-acre parcel along Olive Road near the headwaters of Carpenter Creek for conservation, environmental restoration, and public recreation.
Staff was given direction by the Board on April 16, 2019, to evaluate another property for potential acquisition. This second 5.23-acre property is also located in the vicinity of the Carpenter Creek headwaters. The address of the property is listed as the 7600 block of Winodee Drive (19-1S-30-1401-000-000). The appraisal values the parcel at $72,700. This value considered the existing wetlands on the parcel.
Approximately 50% of the property appears to be wetlands associated with Carpenter Creek. Potential public uses of the property include conservation, environmental restoration, and public recreation. County acquisition would support revitalization efforts for Carpenter Creek and Bayou Texar.
The owner provided a counteroffer (attached) of $108,208.70. This value was determined by utilizing the sales price per acre for Comp #1 ($42,614) and Comp #2 ($40,146) in the county-obtained appraisal and applying it to half of the acreage (2.615 acres). The average of the two comps is $41,380. The property owner discredited Comp #3 due to the wetlands on that parcel splitting the property and that parcel having access issues. The Adjustment Grid for Comparable Land Sales, which shows both the sales price per acre and the adjusted price per acre, is on page 31 of the full appraisal for this property (attached.)
Regarding the remaining half of the subject property, which appears to be wetlands, the owner is applying a value of $14,000 per acre, totaling $36,610.00, and is asking for tax donation credits. The property owner was advised to discuss this with his accountant.
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