ST9302-CS 970522he City With A Beautiful Future
Ms. Barbara Sue Austin
18675 Marina
Cedar Creek Country Club
Kemp, Texas 75 143-4434
P.O. Box 478
Coppell, Texas 7501 g
214-462-0022
May 22, 1997
RE: Sandy Lake Road right-of-way acquisition (ST 93-02)
Dear Ms. Austin:
This letter is written as a follow-up to our meeting of May 13, 1997 in which we discussed the acquisition of
right-of-way from your property located at the northeast corner of Moore Road and Sandy Lake Road. I have
reviewed the tax roles for near by property. The following represents the value per square foot on the tax role
of the various parcels:
1. Food Lion tract east of your property $3.70/per sq ft (developed)
2. Sandy Lake Corner (northwest corner Samuel/Sandy Lake) $2.24/per sq ft (undeveloped)
3. Sandy Lake Corners (northwest corner Moore/Sandy Lake) $2.00/per sq ft (undeveloped)
4. Sovereign Properties (retail center southeast corner Moore/Sandy Lake) $3.50/per sq ft (developed)
Your property is shown on the tax role at $.99/per square foot.
My observation of the numbers is that for property undeveloped and zoned commercial the value is in the low
$2 range. The value for property that is already developed is in the mid $3 range. So that there is no confusion,
I did back out the value of the improvements on both of the parcels that are currently developed and only
provided the cost information per square foot on the value of the land as shown on the tax role.
As stated in the meeting, the City of Coppell is very interested in acquiring the right-of-way for Sandy Lake Road
and would be interested in attempting to acquire the property without the added expense of appraisals and court
costs associated with eminent domain. During our meeting, I discussed the fact that the most recent right-of-way
that we purchased along the east section of Sandy Lake Road was $2/per square foot. This seems to be in line
with the value on the tax role of properties in close proximity to your property that are currently undeveloped.
Once you have had the opportunity to review this information, I will look forward to hearing from you again to
determine if there is a mutually agreeable price that can be arrived at so that the acquisition of right-of-way can
be ~nalized on your property.
If you should have any questions please feel free to contact me at (972) 304-3679.
Sincerely,
Kenn~eth M. Griffin, P.E.
Director of Engineering and Public Works
~le/sandlylk/austin.597