ST9902-CS100907
Halie Hernandez
From:Keith Marvin
Sent:Tuesday, September 07, 2010 12:33 PM
To:Bill Mills
Subject:RE: Parcel 3 - 250 W. Sandy Lake
Attachments:City of Coppell_Appraisal 5.pdf
Mr. Mills,
Sorry for the delay in getting back to you. I did meet with our city arborist to look at your trees, and I spoke with
representatives of HMI about providing a report on actual value of the trees in question. HMI quoted me a price of
$1,575 to prepare this report, and at the time it didn't seem to be a prudent use of city funds.
In the interim, I have been working toward settling some of the other parcels of land where we were closer to an
agreement. At this point, we have settled with 5 of the 9 property owners we were working with. In the next few
weeks we will be hiring an appraisal firm to conduct a detailed appraisal of the remaining properties. This appraisal will
be comprehensive in nature, and include land value, and take into consideration the damage associated with the
proximity of the roadway to the remainder of the property. Once we have completed the appraisals, we will be sending
out offers to the remaining property owners.
Our goal in this process is not to acquire this needed land at the cheapest cost possible, we too share the desire to pay
fair market value. Hopefully securing a comprehensive appraisal will help us both.
Feel free to call or write back with any questions or discussion. Once we hire an appraiser, he may wish to discuss the
situation with you.
Keith
Keith Marvin, P.E.
Project Engineer
(972) 304-3681
>>> "Bill Mills" <Bill.Mills@verizon.net> 9/7/2010 9:25 AM >>>
Mr. Martin,
It has been 124 days since I received your last email. One could assume that the mentioned process of "discussing the
contents of the "Replacement Cost Report" with our city arborist” and “We may also seek an additional appraisal based
on current value rather than replacement cost" was easier said than done.
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I understand that Coppell’s primary mission is to secure the property for the least dollar amount possible and it would
support your cause to find an expert source that agrees with your position- whether it’s “based on current value rather
than replacement cost’. Like I said I guess that was easier said than done. But I still maintain faith that a fair market value
can be agreed upon in due time and we both will satisfied with the outcome.
After some research I came across this IRS definition of Fair Market Value.
Hopefully the following will help in some way:
What is "Fair Market Value?"
Fair Market Value is defined as: "The fair market value is the price at which the property would change hands between a
willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable
knowledge of relevant facts. The fair market value of a particular item of property includible in the decedent's gross
estate is not to be determined by a forced sale price. Nor is the fair market value of an item of property to be
determined by the sale price of the item in a market other than that in which such item is most commonly sold to the
public, taking into account the location of the item wherever appropriate."
Regulation §20.2031-1.
Bill Mills
-----Original Message-----
From: Bill Mills [mailto:Bill.Mills@verizon.net]
Sent: Wednesday, May 05, 2010 4:24 PM
To: 'Keith Marvin'
Subject: RE: Parcel 3 - 250 W. Sandy Lake
Mr. Marvin,
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We look forward to it.
Bill Mills
Forensic Death Investigator
Denton County Medical Examiner's Office
Office: 940-349-2870 Cell: 214-202-2202
Fax : 940-349-2871
"If there must be trouble, let it be in my day, that my child may have peace"
-Thomas Paine
-----Original Message-----
From: Keith Marvin [mailto:kmarvin@coppelltx.gov]
Sent: Wednesday, May 05, 2010 1:48 PM
To: bill.mills@verizon.net
Subject: Parcel 3 - 250 W. Sandy Lake
Mr. Mills,
We are in receipt of your counter offer for the acquisition of Permanent Right of Way for the West Sandy Lake Road
reconstruction. Thank you for your prompt reply.
We will be discussing the contents of the "Replacement Cost Report" with our city arborist. We may also seek an
additional appraisal based on current value rather than replacement cost.
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Ken or I will be in touch with you to discuss this when we have a little more information.
Thanks.
Keith
Keith Marvin, P.E.
Project Engineer
(972) 304-3681
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