1988 - FDR Park - Park Study and Historical Information on ParkTO:
FROM:
SUBJECT:
CITY OF DUBUQUE, IOWA
MEMORANDUM
The Honorable Mayor and City Council members 1
Rich Bean, Roosevelt Park Study Committee CO
September..28 ,_.188
C0
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Report on Roosevelt Park study "`'
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INTRODUCTION Co
The purpose of this memorandum is to update the City Council on the
investigation of the disposal of Roosevelt Park.
BACKGROUND
During the Park and Recreation Department's FY '88 budget hearing with
the City Council, the Park and Recreation Commission was directed to
investigate the possibility of disposing of Roosevelt Park. The.means
of disposing of the property included selling it, or leasing it to the
Iowa Department of Natural Resources or the County Conservation
Commission. Consideration is to be given the areas being used by the
Storybook Hill Children's Zoo and Tri-state Modelers airplane club so
that their operations could continue.
During this same budget hearing, the City Council redirected the Park
and Recreation Commission to further study the Four Mounds Park
development. Those efforts have lead to a long term lease with the
Four Mounds Foundation. I mention this because we focused our efforts
on this project first and that is why the Roosevelt Park study has
taken this long.
Some background statements on Roosevelt Park may be helpful for you to
fully understand the issue. The 207-acre property was purchased in
1967 from J.C. Miller for $50,000; a copy of the warranty deed is
enclosed. Seven lead mine openings that comprise the Pike's Peak Range
and give the area a historical significance may be found on the
property; a copy of Walt Mauer's report is attached. The park was
closed to general public usage in FY '84 and has not been maintained,
other than mowed two or three times per year, since. The original
section of the roadway has become overgrown with weeds, most of the
playground equipment has been removed, and trees and brush have become
overgrown. There are three users of the park now: Storybook Hill Chil-
dren's Zoo, Tri-state Modelers, and a neighboring farmer who rents 55
more
page two
acres for farmland. These areas are outlined on the attached map that
also shows the roadways leading through the park. The only expense we
presently have relating to the park is $1,400 associated with a full
time employee cutting the grass in sections of the park three times per
year. This expense would remain with the department even if the park
is sold. The revenue associated with the farmland rental is $3,960. If
the property is disposed of, the Park and Recreation Department would
have a tax increase of $3,960.
In FY '87, staff support for the zoo was eliminated from the depart-
ment's operating budget. The past two summers we have provided only
mower equipment and liability insurance to the zoo. The mowing
equipment is backup pieces for other department operations, so there
are no costs associated with providing it. The cost of providing the
liability insurance is $500 because the zoo committee cannot be named
as an additional insured on the City's blanket coverage and a special
policy is purchased. This is not a budgeted expense, as the City
Council has given its approval of this arrangement on a year -by -
year basis and it is not something we plan to provide.
DISCUSSION
To begin our study of this issue, contact was made with the Iowa
Department of Natural Resources and the County Conservation Commission,
to test their interest in purchasing or leasing the property. Both
responded that their budget limitations did not allow for them to add
additional park land. The next step was to have the property appraised
to determine its value and the likelihood of sale.
John L. Felderman Appraisals conducted this study and in February,
1988, submitted their findings; a partial copy of that appraisal is
attached. The appraisal sets the value of the property at $650 per
acre, or $134,550. Mr. Felderman feels this is a realistic price with
a one- or two-year sales program. If a quick sale is desired, a
$75,000 to $85,000 price range could be expected. Since talk of a
possible sale has started, staff has had several telephone calls
expressing an interest in the property. Indications are that there is
a good market for the sale of this property to a private individual.
The other alternative being considered is to keep the property and
begin another form of development. Development possibilities could
include such things as park usage as it was before 1983, campground,
golf course, restoration of the mine, and others, or a combination of
them.
mare
page three
RECOMMENDATION
As advocates of park and recreation programs and facilities, we
recommend that the property be kept and other development possibilities
be investigated. We would like to hold a public hearing to gain input
from citizens as to their thoughts on how they would like the property
developed. Since the property is making money for the city, we would
like to take some more time to fully investigate all possibilities.
This is a beautiful piece of property that will be difficult to
replace, so we need to really think through all possibilities.
ACTION STEP
The action requested is for the City Council to receive and file this
update, and concur with the committee's recommendation.
RAB:lm
attachments
Prepared by Gil Spence
IOWA STATE SAR ASSOCIATION FOR THE LUG4L EFFECT Elf THE
O.Tioiol Form No. 1.1 • ••• w.•• v. ••, s..,. OR THIS /O,tM, CONSULT T'J':R Lt.'s+Y C.
WARRANTY DEED
/.4IIOt.0 21I t+1£tl by irinv 4)re5etlt5: That _ :1.•-_ ,_ IiJ. Lcl_ iuul__ ltegiliit_
husband and hiCt, and Robert E. Miller and Hattie Miller, ler, husband arid..
---'— , in consideration
of the sum of Fifty Thousand and no/100 I)ol let's (. 30,000.00)
in hand paid do hereby Convey unto City of Dubuque
the following described real estate, situated in_.
Du!it_QIic
County, Iowa, to -wit:
Lot 1 of the tsest Half of Northeast Quarter (NEW of Section Four
(-l), 'Township 88 North, Range 2 East of 50 P.?I•, in Dubuque County,
Iowa, according to the recorded plat of said Subdivision;
Mineral Lots 272 and 273, Lot 1 of Mineral Lot 271, Lot 1 of Mineral
Lot 274, and Lot 1 of Mineral Lot 276, in Dubuque Township, Dubuque
County, Iowa, according to Anderson's Map of Mineral Lots of Julien
Township and Vicinity and the recorded Plat of said Subdivisions;
subject to highway, also subject to easement granted Northern
Natural Gas Company, a Delaware corporation, recorded in Book of
Lands ..=-46, page 55, records of Dubuque County, Iowa, and also
subject to easements granted Interstate Power Company, a Delaware
Corporation, recorded in Book of Lands #59, pages 637 and 638,
records of Dubuque County, Iowa, containing 207 acres, more or less.
I
And the grantors do Hereby Covenant with the said grantees, and successors in interest, that said grantors hold
said real estate by title in fee simple; that they have good and lawful authority to sell and convey the same; that
said premises are Free and Clear of all Liens and Encumbrances Whatsoever except as may be above stated: and
said grantors Covenant to Warrant and Defend the said premises against the lawful claims of all persons whomsoever,
except as may be above stated.
Each of the undersigned hereby relinquishes all rights of dower, homestead and distributive share in and to the
described premises.
Words end phrases herein, including acknowledgment hereof shall be construed as in the singular or plural number, and as masculine
or feminine gender, according to the context.
Signed this =2#4 day of February
1967
J. u. Miller
/r 1 r .,
f A' (!yf L • 1 /. ' ' /s i'i
Regi11a C. Miller
OF IOWA, r //' 6 -/y ,,
COUNTY OF DUBUQUE } ss, Robert E. rMille,: '- • ' -f
'.r
•1I g February 67 •✓1-/ T'7.' . /:/// '/ 1i; , ,
On able . / day of 19 before llattie Miller
. me, the undorsigndd, a Notary Public in end for said County, in
Taid•Stere, pirsonnlly appeared J. C NUJ er and
Regina C. Niller, husband and wife,
...Robert E... Miller and Hattie Miller,
husbaud,.attd wife,
t
to me known to be the identical persons named in end who
executed the fo,egoing instrument. and acknowledged that they
executedthe sameas their voluntary act and deed.
Berneda H. Whitney,/ Notary Public in and for said Counh e0JX GO PA 5LD
; 7 CA I NI ct 50
9081
i i.l. RC.'i R i ECOR ::R
L'J. U3UZ CO. IOW A '
FEE'/ 0
1)416; 'A:`•. 1.1 wai2t-i,ry
The following report will attempt to speak to the question of the
most proper arld best use of the propexty known Kmirrently
Park and which carxies the historical designation of the Pikes Pea
Range. I will not attempt to analize the need for the proposed
:occreational -farAlities no their cost. I will instead emphasise the
nature of the 1:)cal and the signifigance of that nature to
DIA3i)c:Jes origins.
prior to tho city of lubuque's acqusition of the property in .:he
anko 1960s this property c)uld be traced backwards in ownership to an
JFA1 i)rosidenal grant En Prosident Polk. Early documens nerliton
tl.)e nI<J2!.3 Pr.aL Range in several time periods. The name is :.eported to
hnvo been doxlied from the fact that the mine of the area uere produc:7_,
lzy:go qyz.c.1U:4:es of load om at about th timo of thQ discovox'v of (-acid
in the Colozaco Texatoxy in It-358 The fizst mertion which u!;es the
Plkos Peak naLe cxedit9 a Judge Lovell and othexs with haying :::aised
It,G00 lbsmf oxe in 1&63, Subsequent documentation give vme
(,)n pduciion ond date a of the :cich ore finds.,
j signifloance tlo diGeov=teA in 1906, 1908 of blackjac
(inc) in the xange.. The ?nC ].o3edmap illustates the abund-iwice
mineale 070Vf.G03 and tLe -ihundanc of minerals having been :femcwoC
pxio:2 to 1690, This ,-_ms the 16 named crovices and pu.;
p:oduction at 11 SOOO(?ib: rix to 1890, Theso f:;qu-res
the :Pichness the mincral deposit witMn not only this Fango,
mo.xeovez thaghout thc-: ontf0 Dubuque lead region. The 5.mooyaw,
-1Figues fu7:tho:7 amplified by the addition of ele *Inc
dits wee Tie deposit woxked
In the inag C..nd the -oint o-." wee of qznat Lf:rtnc
c.Pd.inf the pciiod on Tho xichst depost
d-7.sr!w,rend at it july cf J.)0 on what wa.c. than the
Sovexa.1 wee mined extensively Ouzing
the s rs'. world war e a and up until 1913. This ending o± mining in
the Pi 3es Peak Range marks not only the end of an era in Dubuque,
but also effectively signifies the end of zinc and lend pT.oductio L
i While to..
throughout IF, 1C3%'s'f: .?. ra « :1 .:L € documentation is 5..-' . -;.` i ►.;l scarce .Tlr't7 : i:l"_ noindividua L crevice production is conce.i°l` ed the Pikes Peak Mange 1 r.
considered as one of the top two or throe producers in such tables
4tJ re a a 3,1abl
-„` = ''' `Te Thur, :11e :ai.gni r=F-ga?`tce of The area is amply
The historical :ig'A'i -' fiance of the range is easily seGn and
ap2LL,ciatod. Mc current signor f fiance is in the :;ei.a`€.iv°e state of
'uo't"t .'- p: otect ton and :! n` §t: nesc with which it has come into public
It is this public ownership the concentration o i. crevices
the qeeloay the area as an example os the, Dubuque lead region, and
the abundance of surface structures which make the presevation of t
mine : xt eme.ty impox tint. During the development of the ) he urban
and .pub: :an aY:eas of the city of Dubuque, the remains of Dubuque's
mining heritage have been subjected to repeated assuc7lts by both the
private and public sectorz These aGsuais have taken many forms and
have been perpetrated or various reasons. The cumulative t4 s
7': t1 l .i t,r..`t3'(r effect l s: ..
been to erase from view and memory the vast majority of all of the
lining ?:'emain3. The sxce`"`t" on to this statementin the _.
-evidenced. in the Pikes Peak Range now in public control as . R .
U-.. t .L ., i 3 ' s ,t: h" t
' z s :! ' S" . Y:f. t, G-';r f^< ,, t Ni g ; L+i .ui . causes the Range " ; D be 1
considered o1 great historic value. i'1hi ye. there were e t.ensiv:9 mining
operations thoughout the Dubuque area at no other spot has an
requil
amount of i:;a'i,F?u', a and '" <f-i : t. is 3; 'yam„ bee
n
i :u allowed to 7'e1;1ai1`3p A lilf:`::e Cis,,..:$;i f C:C'[
repa _'i nd evaluation oi. these .:emains is includedin p":i." :. .'r i a
my .t.li..a f'?c .
strive v ,. Not only a ± e the man =de s :: uc to e2 of the
stJ it evident, but of an equa ir`tpoa t< qn5a- <a to understanding od Duhl que7
r:
eaa :.s the exposure of the geology � :
SS �+,. :;�'� , J the region as seen ._i ��t7na',J�
th crook bottom om along the east
of
'� -1 L. c ..; �. end F . Lt .!' . Y This exposure i t _ C
the unique : rs+'."cl rac vu?=6 crevice system of e Dubuque area. �.y.
sy;i':i;?::. o: primarily east -west 'i;! `;,. Or f:.:ac'4s,I:._es lying in close
r-'ro:,:.':tii y to one another which is best shown hare. Ther also
i `t :.''t'i a a
.. v �i �-.. y �'y6t4�'E.. L� theintersecting o'?y the :)Cr c Un(..i t.*'a r V ..si.r.:. .: ou4h
C...,,ti.'i_CiDG which give the name of infra .a .fir. cu_I,.9 to the p•il %1»C3(:sena
(.: C•o:tc phenomena ' -Y t f G and Y �:.� ilE::?3cx :{_r_ 'uG� k,3E � U;.)?'a� ? e�._ i i::C: e not .. `:'kiC':i.lC1
seen in any' ethersite in 'y?i:Le',. area.
tf, l: is. with those unique and s ;iF ,SI:I.(: an t: factors in i:,..n ' that ,.
sue. merely �=- ,..
:i r g��S_r!i Snot preservation o:i.
;iL%. '£. "« � selected sites within the
..;rmcie but ..:Lithex preservation of. all remaining n structures, art ., s
and geologic a ±cur;Gs and their development.':3 a mining exhibit,
have not had u lic ? nttimet a :.t "
�;; 4 'i:(3 formulate �'fL;7;.opi;ienl;a7- ��`•v�:r:.c:t;?, but
1.
i. feel " t is}
's;tia '�;h�w',?a�;a't;4,?:Li?.�`37 'ltiLlCri.•..�'�:4 ma't:..r..,.u..,;r•oass•:± s and t.-.e.
- ox such an ?xh f t begun to formulate po 1�
' C� � tr3 �'a i �. 6" �: S � .....
combine a walking ;;rail, ; e:t:'&ainan'i 're Laido markors arg ,t s.
me
ic,t1,re time erection of a possible center
site.
Within 'the pest wool;.- June 3 I hsvoa • T
G:w i 1i. "' 'f, (,7 :.1 l'i n
of the Park Board Ct and of the media. In to the t.,
the Park Board and 1.i'; riew of tho danger v:h r.. - w _,y. .l r .
shaf'cs couldpresent !. to unwary :i.nL`i.'..v:Lt:ti.{t": _s 1 would i_d rscC F" vond 0
toS Jo .17y cap of brush and tree 't,rir mings he piacecT into
hti
to p:evont any accidents. I will not xe^omannd any action ,"ih:i ::h °g 11
pe rtanan.c1y affect this ('..mp.i.ex and willattempt
,
c�'i,'�cMllyr t, to ;:1Ct•Y'i:�.'t;, "Z'it 'f'ui::::t:
developinental pans for this historical area,
A preliminary survey was undertaken of the F. D. R. Park (Pikes
Peak Range), the object was to note a many of the locations of mining
features as possible and to describe any surviving surface artifacs,
(Mote- survey by Walt Lauer & Bill Horn- Dubuque, Iowa ) Due to the
abundance of .,:=eatilresr it was impossible to locate everything of note,
:Iany possible features axe visible at this time and a more extensive
survey is probably war/Tented before vegetation becomes heavy and makes
visual contact impossible. This survey covers the area bounded by the
shaded area on the enclose:I map. This area is bounded on the south by
a line fence and electrical hi -line. On the east there is a rusted barbed
wire fence line across the stream valley only. The north is not marked
by any recognable lino, The West line is P barbed wire fence.
Area al
This fea.:ure is located at the extreme south eastern corner of
the area suvv(?yed. This feature includes a individual shaft of
approximately 24 ft. by 30 ft. demension. The upper shaft area is
approximately 16 ftin diameter in a funnel shape. The taper of the
funnel makes :he shaft approximately 3 ft4 across where it is choked
by rubbish and depris, There was no sign of surface structures or
artifacts at this site alt'aough heavy oxidation was noted. No effort
was made to ascertain the 3tability of the choke )1.1t is noted that
due to the proximity of this fe:ature to both the road and the neary
housing developement. This shaft would benefit from grid-gateing.
Located approimately a thi:mi o.F the way down the slope to the noxi
and approximtely 100 ft. to no west of this first shaft !s a second
shaft. This Aaft is adiecent to the first old cedar tree north og
the road and partly visible :From same, It is approximately 24
by 24 ft, It is an expcised crevace approximately 20 ft. deep to a Onkq„
The surface opening measures 12 ft by 16 ft. and is protected :1,1? barbed
wire. Some oxidation was noted but no surface structures ox artifacts.
Following the east -west crevace line approximately 50 ftwestward a
double prospect pit is noted. Continuing west 100 ft another double
pit is found. At this point •this area to the south of the stream was
abandoned, however, it would appear to warrant more extensive survey.
Area g 2
This arca includes the exposed gealogy on the north side of the
valley strearr. It begins at the first stand of red cedar trees to the
north east of the roadway. At this point there is a possible filled
addit. There are conside2:ab1e rock piles and oxidation. Another Exposed
joint crwics lies approxmately 75 ftto the north east along the bluff
line. Another crevice lit)s 125 ft. to the northeast. This crevice shows
some piling tnd oxidation. Approximately 50 ft to the northeast is a
classic addit entexance to the crevice, The opening is 7 ft high by
3 Ft. wide at its'base. A clasic feature in its elongated shape and
location at e bluff base. It is stable and easily enterable for a
minimum of 3C ft. Immediately adjacent to the northeast of this opening
is an infra-fxacutre joint. The bluff line continues to head northeast
unti6 it intercepts the major east drainage ravine. At this point, it
follows a northwest line, There are numerous evidence of shafts and
prospect pits along both sides of his ravine. Further work is in
order here also,
Area ;1 3
This area is immediaely at the northwest head of the eastern ravine.
The feature noted is a ma:or shaft and several adjacent filled shafts.
This shaft is an excellant example of the type of working found through-
out the Dubuque area. A funnel shape opening of approximately 30 ft.
by 30 ft. Th9 funnel tapers to a depth of approximately 30 ft„ where
square form. This shaft pppeaxs to be extremely stable from this
point downmrd. The prospects fox horizontal access from this shaft
would seem to be good, due to the lack of evidence of fill or previous
dumping. The apparent stability el? the xock, the fact that this shaft
is cu=entley draining to ; significant extent and the apparent depth
of the shaft. It must be noted that this shaft passes the most danger
to an unwary ifisiter. The condition of the sides of the funnel is very
unstable and an enclosure of cyclone fence an a grid gate fo the shaft
is suqgested.
Arne 0 4
This axes is a cncentxation of shaftn and pits x'unning along the
east-wnst line of a crevice. TEe easiest way to locate these ieatuxes
is
to v;ak
aloag the old baThed wire fence located at the southern edge
P
of tho new overgrowth. This_ferce may be found by walking dirGetly
south from the road fox appromimately 400 ft. Included in this area
15
an exposed crevice approximately 12 ft. wide by 75 ft. in length.
This is currently filled wf,th limbs and tree cuttings. This was entered
in 1975 and di' not open ii:to the sub -surface crevice at that time. Also
in this area, located apprximately 200 ft. to the east of this exposed
crevice is a temporarily filled shaft. This too was entered in 1973
to a depth of SO ft. There was evidence of horizontal access at that
time but explo.ration was not attempted. This shaft is also filled with
limbs and debri.s.
Area a 5
This area is comprised of the north slope of the northern hill,
primarily with.7.n the original vegetation line as opposed to MOTO "Y.Pn°c
growth. The major feature is an open shaft of the funnel shape,
approximately 40 ftin diameter and 20 ft. down to the bedrock. This
shaft is loosely choked by forest debris and is draining some water. By
the sound of :he waters fall, I believe that the shaft is at /east
a.c,.a t:
.3::t3 £ 1 also eUeve that a.w_,+���` �.�"L' � horizontal access is possible from
;this sha . Mere is considerable evidence of ;
oxidation, etal a othor shafts
and prospect pits 3 nbo .i no immediate � andtheadjacent -
+� G'€� ,cC�� r�1. �:�?xi �. �; .� 3.Y1{.'t;y
This s 'ha £lost impo: n t and i n, f
J' significant �6�. Si'� �ir�'.`t-zG o.t, remainsoljy
' but 1.+.so within the entire cii;y. It may 'zs t be of
soy':ifo ...spo 'tan(. e" the `: :a`
A. :C, to . a?'t;.Lr.'� ;�' bc? ct;", an �?::ci�i?.�-cd of ..�_h,q e3
:in u , .:: y. Thc arce is ; ocaed nt the western edge of the northern$s
wI ti:'tin c pyiro . 1'• `' .' n
5 !' ! :}l�. .LF)f.3.'A�i��L2l .! �.?f.'- r,�:aC9G? is bounded F?t, the
ori.,jt ':3 3 wooci 4Sn':,d come small l recent growth. It measures apprr x m t'" i
200 1 . i ! a ....`" lengthN-S width. This boundry encloses
appeas
. be the most developed of all of the mine features a..
ha
par :. Notonly is this 'ta1 i) largest,..
l ��?? ppyy
� �f�� ° of the shafts, approximately zw7>4d«
in d>s : �t', ^.r '
_i�?.�, "(,S' and 35 ;. U� C#�:�5� ��?.ti: we have a heavy concentation of
structural and equipmeri'd. :i.cvai.ns evidenced. These include the footings a on
the south side of the sha'; . funnelstill on the u , f a T
by
i q ::3 i,x ���.. :.J �,�d _:..i. dui 4r�� P,1.: �; •�.'i �� �,i�t:�,ii.��.�i�.
aft. long b1 «if•� bfi'dicie by t,t'j• i7 .r♦♦ depth nd l topped
p d 7 n steel
'a 0. •trk si. `� and are '44,.'°��...J#j1 a..I �.'7 �� 1 inch
threaded rods There are t of ,.- L 6
rods. >3c,._.e re:F: ;L.. w'3<`::i.�: i.ilC`_.<.:footings; .:�4 ..� ..
on the south is still re.?.a':iiie1j, stable and intact
no:r' horn pair ias slid i::tto the shaft
t funnel.
stool i?trdfact 5' found immediately adjacent to these footings en the
so!.'.:h shoulder, the most recognizable being an 8 :foot long, .six inch
Liar e er steel pipe. The bettor inches are t and
x 18 :i.'t a�t>�,� perforated appear
to be removable. This is possibly 3ibly pump nozzle used for water removal.
.
The area of the shaft '? Lsc If shows considerable amounts of ootinc:
ta.
"tirbe:_s, o .d. :,. plate and t •tructura l debris. To the immediate south of
the .,:ou h of The shaft "hc :remains � f
a brick s'i: r£.ti; tuzlE? are if:i ani: t ....eu .
Approximately '?0 f t;,. by 20 ft., this area appears to have bean :fiade
of two distint types of b;cick. Our survey found many common red clay
brics of unmarked manufacture. We also secured and observed several
bricks of a riore special nature, these are marked as follows;
Thewe bricks axe whAt vfould aommonly be called fire brick and their
presence may indicate f5ome type of smelting operation. There is also
evidence of boiler plate and metal remains in the immediate .vcinity of
this brick structure. The structure itseld is primarily comp::ised of
e parralleI brick barrows* At what would be the approximate west edge of
the shaft there are several large deposits of N rubbal. These axe of
a nature to suggest they are mine tailings as opposed to structural
reins, however this is lot definate explanation of their nature.
Thera axe feu remmins on the northern side of the shaft area. There is
considerable evidence that a set of footings was located here but they
have slid ino the funnel. However, at the corner of the norl-wct
juncture, an animal burrow has broueght to the surface largo amounts o-i:
heavily fiec materials. The presence of the material might :3uppot
the possibilty of a smelting process at this site. The extent of this
deposit of material was not determined on this survey. The ramains of
a stool reinJ'orced rubber hose was noted at the northeast corner of the
shaft slope on the outside of the funnel. The eastern side c,.. the
sh,,Ift area Ls dominated by a wooden structure.SOft in length by 6a in
wide by 7ftin height. This strucutre is built of 2x4 iumbe and heavy
spikas(round. It consists of a series of enclosed emitting hambers
in two sets, There SOOM3 to e a deposit of small limestone chips in
conjuction w:_th this structure. The structure rests on 15 fo!)tin2s,
12 of those are approximatele t5 inches square, the remaining set of
3 is consideably larger and appear to perhapes have supported additional
structure. 'Alex° is an unnatuAl basin immediately to the east of the
struct&re, :,:t measures 30.:Ft by 75ft in size and 5ft in depth. Several
remains of boiler plate axe evidenced. This area shows extremely heavy
concentrations of historic activity and needs further survey which is
certainly t ak:cen'lod.
,rt.-
Al —ea ;r I
This a' ca constitutes the ..econd most si€gn:? g cant axon of the park
.
y
The area is located on the ravine line on the north facing elope of the
valley floor. The load way panalle s this ravine. The site is visible
from the road in the br ush1ine of the ravine. This site includes
sy :.,te o•:; 3 pumps set into what appears to be - shaft mouth e, These
pumps p otuC.e approximately loft from the fill of the shaft. The first
pump is evidenced by a 7 i.v ch pipe. The second is a 12 inch inside
diamei:e : vertical pipe off of s .,i rh two horizontal throats protude. Of
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of these is a 12 inch (ID) th n•o . t. the other is Cinch (ID) There a-P,
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vertical throat that flares irrtc a 16 inch funnel top. There is
a 6; inch horizontal throat r on '►h
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marks evident cm these pieces. Adjacent to this shaft is a set of
6
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NAME OF CREVICE NUMBER OF SHAFTS
P.H. BRUGH 8 SHAFTS
DUNN & CO 9 SHAFTS
CARR, NAGLE & CO 13 SHAFTS
WYNCOUP 5 SHAFTS
HILDEREBRAND 9 SHAFTS
CARR 11 SHAFT
DANCLO OR JEW 7 SHAFTS
BRUGH & AMDEN 7 SHAFTS
BUCKINGHAM 4 SHAFTS
AMDEN 14 SHAFTS
ANDREW 18 SHAFTS
FROST 21 SHAFTS
MOVESKI 12 SHAFTS
BRUGH 4 SHAFTS
SQUAW 8 SHAFTS
BEADLE 13 SHAFTS
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nek
FDR( "ark sale is .0)OSed
because of mining heritage
By Steve Kraske
of the Telegraph Herald
In the 1800s, thousands of miners dashed
west in the great American Gold Rush.
But a few stayed behind, right here in
Dubuque. While there was gold in the
mountains of the West, there were rich
deposits of iron ore and zinc in the hills
surrounding Dubuque.
One of the area's richest mineral depos-
its was in the so-called Pike's Peak range
southwest of the city. The hills picked up
that name because the land was mined at.
the same time of the Gold Rush around
Colorado's Pike's Peak.
Much of the Pike's Peak range is located
in FDR Park on North Cascade Road, a
park the City Council has considered sell-
ing. Two area men who have studied the
mines of the Pike's Peak range say selling
the park would mean selling a rich part of
Dubuque's historical heritage.
Thomas Auge, a Loras College history
• professor, and Walt Mauer, a student at
Luther College in Decorah who works in
the archaeological research center there,
compiled a report on the old mining shafts
in the park in 1979.
"I'm just saying that there's no other
lace that is owned publicly where we
ive a mine still in some kind of condition
+here it could be developed as a historical
te," said Auge. "If Dubuque is interested
some kind of memorial of its past, this
would be an area that would be of inter-
est,
Last month; the council set aside a
motion to sell the park. The council had
considered selling it to help pay for devel-
opment of the city's recently acquired
Four Mounds property near John Deere
Dubuque Works.
Since the Feb. 21 meeting, at least two
farmers have expressed interest in the
land. One, Robert Bradley, who owns a
farm near FDR Park, wrote a letter to the
council saying he's interested in buying or
renting all or part of the park.
Council member Tom Beurskens, who
pushed for sale of the park at the Febru-
ary tneeting, has changed his mind and
now thinks the park should remain a part
of the city and the Storybook Hill petting
zoo should stay where it is. If any changes
are made, he said, the land should be
rented to a farmer to bring in new reve-
nue.
Mayor Jim Brady agrees, but adds he
doesn't want to rush into an agreement
just'because some interest has been shown
in the land.
Auge.and Mauer say the land's mining
heritage deserves more attention.
"Basically, it has everything from a
major mining operation back in the
1870s," said Mauer. "This is of tremendous
significance in terms of setting up and
researching what one of these situations
looked like in Dubuque."
In his report on the mining, Auge.wrote
that few Dubuquers understand that min-
ing was a key reason Dubuque became a
city.
"The lead mines and the Mississippi
River were the twin pillars upon which the
city was built." he wrote. "Soon, if nothing
is done, the few remnants of this signifi-
cant, colorful part. of Dubuque's heritage
will be buried beneath the roads, housing
developments, shopping malls and playing
fields of an expanding city."
The Pike's Peak mines were considered
among the most productive in the region.
"In a list of the 99 most productive mines
in the entire Upper Mississippi mining
area, prepared by the Geological Survey of
1959, two Pikes Peak mines are included,"
Auge wrote.
An 1899 map of the range indicates that
10 million tons of ore had been mined from
the range.
Mauer said that farming probably
wouldn't hurt the mines. •
GREEN LINE PARK BOUNDARIES
RED LINE FARM LANE LEASED OUT
BLUE LINE CHILDREN'S ZOO
YELLOW LINE MODEL AIRPLANE STRIP
D�D,n nI
J {�
PREPARED FOR
CITY OF DUBUQUE
PARK AND RECREATION DEPARTMENT
BUNKER HILL ROAD
DUBUQUE, IOWA 52001
PROPERTY
FRANKLIN D. ROOSEVELT PARK
NORTH CASCADE ROAD
DUBUQUE, IOWA 52001
PREPARED BY
JOHN L. FELDERMAN APPRAISALS
1420 CENTRAL AVENUE
DUBUQUE, IOWA 52001
National Association
Master Appraisers
Form No. 264
® REAL ESTATE LAW INSTITUTE INC. MXMLXXXII BOX 12528 SAN ANTONIO, TX 78212. NO REPRESENTATIONS ARE MADE AS TO THE LEGAL VALIDITY OR ADEQUACY
OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. NOT SUITABLE FOR COMPLEX TRANSACTIONS. ALWAYS CONSULT YOUR ATTORNEY BEFORE USING ANY FORM.
- PURPOSE OF APPRAISAL
The purpose of this appraisal is to estimate the market value of
the property known as Franklin D. Roosevelt Park, located along
North Cascade Road; in Section 4 of Table Mound Township and
Section 33 of Dubuque Township, Dubuque County, Iowa, being
cognizant of economic, social and political influences.
MARKET VALUE
Market Value is described as "the most probable price in cash,
terms equivalent to cash, or in other precisely revealed terms,
for which the appraised property will sell in a competitive
and open market under all conditions requisite to fair sale,
with the buyer and seller each acting prudently, knowledgeably,
and for self-interest, and assuming that neither is affected by
undue stimulus."
Fundamental assumptions and conditions presumed in this
definition are:
1. Buyer and seller are typically motivated.
2. Buyer and seller are well informed or well advised, and are
acting in what he considers his own best interest.
3. The property is exposed for a reasonable time in the open
market.
4. Payment is made in cash, its equivalent, or in specified
financing terms.
5. Specified financing, if any, on the amount of market value
of atypical financing, services, or fees shall be clearly
and precisely revealed in the appraisal report.
6. The effect, if any, on the amount of market value of
special or creative financing, or sales concessions granted
by anyone associated with the sale.
ANALYSIS OF TILE PROBLEM
The subject property has 207 acres of land (more or less).There
is approximately 36 acres of tillable land, with the majority of
the remaining property wooded or cleared. There are several
buildings (barn, and animal shed), and a fenced area (children's
zoo) with a concession building on the property. The improvements.
of the children's zoo are not considered in the value of the
appraisal.
Even though the property was snow covered at the time of
inspection, there is evidence of septic, and well on the
property. Electricity and telephone services are available.
The appraiser will evaluate the subject property to determine its
market value, and the value.. of holding .out the- twc,. parcels_.•- be .04 .
used by;,,; h ah 'ldk+sW', 'z ca and' the ono 1e a` rp1:4ne' & .ub
1
IDENTIFICATION OF THE PROPERTY
The property which is the subject of this report is owned by the
City of Dubuque, Iowa.
LEGAL DESCRIPTION
The legal description is as follows;
Lot 1 of the West Half of Northeast Quarter (N.E.1/4) of Section
Four (4), Township 88 North, Range 2 East of 5th P.M., in Dubuque
County, Iowa, according to the recorded plat of said subdivision;
Mineral Lots 272 and 273, Lot 1 of Mineral Lot 271, Lot 1 of
Mineral Lot 274, and Lot 1 of Mineral Lot 276, in Dubuque
Township, Dubuque County, Iowa, according to Anderson's Map of
Mineral Lots of Julien Township and Vicinity and the recorded
plat of said subdivisions; subject to highway, also subject to
easement granted Northern Natural Gas Company, a Delaware
corporation, recorded in Book of Lands #46, page 55, records of
Dubuque County, Iowa; and also subject to easements granted to
Interstate Power Company, a Delaware Corporation, recorded in
Book of Lands #59, pages 637 and 638, records of Dubuque County,
lowa, containing 207 acres, more or less.
MAILING ADDRESS
— The mailing address of the property owner is City of Dubuque,
Park and Recreation Department, Bunker Hill Road, Dubuque, Iowa
52001.
There are records of previous sales in the last three years.
SITE DESCRIPTION
The subject consists of an irregularly shaped parcel of land that
measures about 207 acres, more or less. The area topography is
rolling to hilly, with some small bluff areas. The north area
(which is the property located in Section 33) is mostly wooded.
There is a west/east flowing year round stream, with picnic sites
located along the valley of the waterway.
ACCESS, UTILITIES
Access to the site is from North Cascade Road to Highway 20, and
from there to all the major arteries. There are two utility
easements to the site. One is from a gas company for underground
lines, and the other is to an electric company for above -ground
power lines.
There are no curbs, gutters, or city street lights on the
property. There is electricity, telephone, well and septic
services available to this property.
ZONING
According to the Zoning Map and the County of Dubuque this land
is zoned R2 Single Family Residential, C-1 Conservancy, and Al
Agricultural. The present recreational use of subject site is a
legal conforming use in all of the zoned areas.
The residential zoned area is north of the west/east flowing
stream; and it allows -single family residences, churches,
fire/police stations, utility substations, schools, private
stables, semi-public recreation areas such as country clubs,
swimming pools, and golf courses. This zoning does not allow
camping areas, or mobile home parks.
The area zoned Conservancy has the following permitted uses;
agricultural of more than 10 acres, parks, playgrounds,
recreational facilities, historic sites, fish hatcheries, fishing
and hunting, streams and lakes, and wild life preserves. The
subject site is zoned conservancy along the west/east flowing
stream.
The agricultural zoned property is south of the west/east flowing
stream. This area allows for uses associated with general
farming, dairy, agricultural, farm buildings, no more than one
mobile home per farm, nurseries, mining, public owned buildings,
churches, recreational uses (such as Cl Conservancy), summer
cottages, and a land fill located no closer than 1000 feet of
zoned residential districts.
5
ASSESSED VALUE, TAXES
There is no assessment or taxes for publicly owned property such
as the subject.
HIGHEST AND BEST USE
Based on an analysis of the available information, it is the
appraisers opinion that the subject has a Highest and Best use as
a recreation or park area.
SITE ANALYSIS
There is about 36 acres of tillable land, and the remaining land
is wooded or cleared land. The wooded area has a west/east
flowing year-round stream with several picnic sites along the
valley. The cleared area along North Cascade Road has a fenced
area with a barn, animal shed, and concession building. This area
has been used as a children's petting zoo.
No soil tests have been taken, but it appears that the soil will
adequately support the proposed improvements. If soil tests
become available to the appraisers, we reserve the right to
review the results and make any amendments, if any become
necessary.
6
STATEMENT OF HIGHEST AND BEST USE
DEFINITION:
According to the definition as stated in Real Estate Appraisal
Terminology, c. 1981 by the American Institute of Real Estate
Appraisers and the Society of Real Estate Appraisers, Highest and
Best Use is defined as:
"That reasonable and probable use that will support the
highest and present value, as defined, as of the effective
date of the appraisal.
Alternatively, that use, from among reasonable
probable and legal alternative uses found to be physically
possible, appropriately supported, financially feasible, and
which results in highest land value.
The definition immediately applies specifically to the
highest and best use of land. It is to be recognized that
in cases where a site has existing improvements on it, the
highest and best use may very well be determined to be
different from the existing use. The existing use will
continue, however, unless and until land value in its
highest and best use exceeds the total value of the property
in its existing value."
ALTERNATE PREMISE
Fundamental to the concept of value is the theory of highest,
best, and most profitable use. Land has been valued as if vacant
and available for its highest and best use for land is "the use
that, at the time of appraisal, is the most profitable likely
use." It is the use that will provide the greatest return to the
land after the requirements of labor, capital, and coordination
have been satisfied. Thus, it may also be defined as the
"available use and program of future utilization that produces
the highest present value."
The most profitable likely use cannot always be interpreted
strictly in terms of money. Return sometimes takes the form of
amenities. A wooded urban site, for example, may have its highest
and best use as a public park; or the amenities of living in a
private dwelling may represent to its owner satisfaction that
outweighs a monetary net rental yield available from rental to a
typical tenant. In this time of increasing concern over the
environmental effects of land use, environment acceptability is
becoming an addition to the highest and best use concept.
7
Land has no value until there is a use for it, but the amount of
value depends on the character of the intended use. The owner of
real property typically desires to reap the greatest possible
return from the property and hence selects a use intended to
achieve this objective. Since change is ever present, the
existing use of land may no longer conform to what has become its
highest and best use of the site, if vacant.
Consequently the value of the subject for park, recreation or
wildlife purposes for a community is generally the value or price
necessary to prevent the property from being used for another
competing use.
Once planning includes a significant portion of the neighborhood
for a measurable community impact, the long-range value of the
subject for park, recreation or wildlife purposes to the
community (in present day dollars) could very well exceed any of
the other alternative uses for the property, which were
previously mentioned.
ANALYSIS OF THE SUBJECT
The factors important in projecting the highest and best use of
the subject site are predominantly:
1. Location relative to major traffic arteries, access to
city utilities, complementing area patterns and proximity to
the market sought to be served,
2. Suitability of the site for the layout of the
contemplated use,
3. Allowable uses, conformity and consistency with
surrounding properties,
4. Supply and demand for the contemplated use.
The property appears to be situated so the creek could be damned
to provide a small lake or pond water facility for fishing.
Additional study would be required to make this determination.
The wooded acreage could provide a number small seasonal cabins
in a natural (nature) setting. This land layout would provide the
capability for summer and/or winter events.
The vacant (non -wooded) area, approximately 75 acres near the
entrance from North Cascade Road appears to be suitable for
Recreational Vehicle (RV) parking, residential subdivision, or
other commercial development with some zoning changes.
Based --on the preceding information, it is my .ana, ysis that,, the;
,subject 'has a HIGHEST AND BEST USE as a recreatil park area,
,. City/County::nature/picnic/camping recreation area
- Church. Scout , or YMCA/MCkr4Camp.
Allay or overnig:
Because of the nature of the land, its
ownership, ,ad ,. •its `ct rrent-uses.;;,; some considerationmental shouldbobe
given to multiple uses ( i.e. sale of parceast4hiblig the count?'
road) such as housing or commercial sites, an m aeial
recreation park utilization to- 4nerth.,
Alternate uses which could occur with some zoning changes or r
variances include the following:
- Commercial Recreation Vehicle Park 1
- Private Cabin/Recreation Area (Seasonal),
- Residential Development
(minimum of 22,000 sq.ft. per site).
- Business/commercial
- Agricultural (36 acres more or less)
9
APPROACHES TO VALUE
Three approaches to real estate value have been developed through
the experience of professional appraisers. The order of these
approaches may vary depending on the circumstances.
1. The Cost Approach
2. The Income Approach
3. The Sales Comparison Approach
The Cost Approach estimates the property value as indicated by
the sum of the value contributed by the land, as though
unimproved and subject to improvements, and the value contributed
by the improvements.
The Income Approach considers the income stream which the
property is likely to produce during its economic life.
The Sales Comparison Approach consists of a comparison of the
subject property with other properties which have sold, or are
for sale.
Whenever possible, all three approaches should be applied in
making an estimate of value. one approach, however, will often be,
given greater weight than the others, depending largely on the
type of property, the most convincing factual data available, and
the purpose for which the appraisal is made.
12
ABM
SALES COMPARISON APPROACH
The Sales Comparison Approach is based upon the Principal of
Substitution which states that a prudent purchaser would pay no
more for real property than the cost of acquiring an equally
desirable substitute on the open market. It presumes the sale of
similar or nearly similar properties from which units of
comparison may be extracted and applied to the property under
appraisement for an indication of property value.
VALUATION OF SUBJECT SITE
In order to estimate the value of subject site, or land value,
the appraiser has researched the similar land sales in the
Dubuque Area. It should be noted that the barn and animal shed
add no value to the subject property, and that the improvements
located within the fenced area are considered to be the property
of the children's petting zoo.
Comparable # 1 - The Timberline Golf Course, Peosta, Iowa, sold
in August of 1986 for $301,000. 251 acres with a 9 hole golf
course recreation area and with club house and maintenance
building. Zoned for recreational activities. The property is
located in Section 31 and 32 of Vernon Township, Dubuque County.
$1,199 per acre.
In comparison with subject property, an adjustment downward would
be required for the superior building improvements, and the
completed golf course. The subject has a superior location and
would be adjusted upward for location.
Comparable # 2 - Lot 3 of Key Gate Center, Dubuque, Iowa, sold in
October of 1986 for $85,000. 37.206 acres of vacant undeveloped
land. Zoned Commercial Highway. This property is located at the
southeast corner of Highway 52 & 61, in Dubuque County. $2,285
per acre.
With respect to the subject property, it would be necessary to
make a major downward adjustment for the land size, commercial
use, and highway location.
Comparable # 3 - Lot 1-2-1 S.W. 1/4 S.W. 1/4, and Lot 1-1 N.W.
1/4 of S.W. 1/4 in Section 28, Dubuque Township, Dubuque County,
sold in January of 1987 for $95,000. 24.48 acres of vacant
undeveloped land. Zoned C-3, General Commercial District. The
comparable is located at the corner of the North West Arterial
and Highway 20, in the City of Dubuque. $3,880 per acre.
13
.r
A large downward adjustment would be required for the comparables
superior highway location, commercial use, and land size.
Comparable # 4 - WRA Rec Center, (Lot 1-1 M.L. 282, Lot 1-2-1-1
M.L. 278, and Lot 1-2-1 M.L.216 in Section 33, Dubuque Township,
Dubuque County), Nightingale Lane, Dubuque, sold in March of 1987
for $90,000. 36.26 acres of wooded land, that has been cleared
for baseball fields, volleyball courts, parking lots, and a
concession area. There is a west/east flowing stream through the
property. Zoned Cl Conservancy. The comparable is located along
the northeast side of the subject. $2,482 per acre.
In respect to the subject,it would be necessary to make major
downward adjustments for land size, and the comparables superior
improvements. No location adjustment would be necessary, since
the subject adjoins the comparable.
Comparable # 5 - Lot 1-1 of Dane Place,Section 7, Table Mound
Township, North Cascade Road, Dubuque, sold in November of 1987
for $22,850. 23.641 acres of mostly cleared, vacant land. Zoned
County R4 Multi -Family Residential. The subject is located about
two and one-half miles southwest of the subject along North
Cascade Road. $993.48 per acre.
In comparison to the subject, there would be a downward
adjustment for land size. The comparable is similar to subjects
location and would require no location adjustment.
Comparable # 6 - Lot 4 & Lot 1-1 SE 1/4E1/2 S.W. 1/4 Section 36
Center Township, Dubuque County, sold in February of 1987 for
$112,500. 120.55 acres of agricultural farm. There is a house,
garage and 13 farm support buildings on the property. Zoned
County - Al Agricultural. The comparable is located three miles
west of the subject, along Cottingham Road. $933 per acre.
In comparison to subject, an upward adjustment was made for
location. There is a downward adjustment for amount of tillable
acres, and building improvements.
Comparable # 7 - N.E. 1/4, N.E. 1/4; S.E. 1/4 N.E. 1/4; N.W. 1/4
S.E.1/4; S.W. 1/4 SE 1/4; all in Section 24 Center Township,
Dubuque County, sold in January of 1986 for $240,000 on contract,
with $60,000, $5,000 per annum at 9% interest, due January 2006.
196.60 acres of agricultural farm land. There is a house, garage,
and 11 farm support buildings on the property. Zoned County - Al
Agricultural. The comparable is located two miles west and two
miles north of the subject. $1,221 per acre.
An upward adjustment was made for location, a large downward
adjustment was given for decline in agricultural land values
since the sale of the subject. There is a downward adjustment
required for amount of tillable acres, and the building
improvements.
Comparable # 8 - Lot 1 N.W. 1/4 S.W. 1/4; Lot 2 S.W.
1/4; Lot 2 S.E. 1/4 S.W. 1/4; all in Section 22 Center
Dubuque County,sold in July of 1985 for $61,500. 43.26
agricultural farm land. There is a house, garage, and
support buildings on the property. Zoned County
Agricultural. The comparable is located five miles west
mile north of the subject. $1,422 per acre.
1/4 S.W.
Township,
acres of
13 farm
- Al
and two
An upward adjustment was made for location, a large downward
adjustment was given for decline in agricultural land values
since the sale of the subject, and a downward adjustment was
required for the building improvements.
ANALYSIS OF SALES COMPARISON DATA
Based on an analysis of the subject, it was determined that the
Highest and Best Use would be as a recreation and or a park area.
Alternative uses were discussed separately on page 7.
There were no other more recent similar sales. All comparables
were given some consideration. Comparable # 5 was most similar
and was given greatest consideration. Comparable # 5 could have a
similar use (recreation) with its present zoning. It is in a
similar location, with closer access to a major artery; was
adjusted for size; and has been given most consideration.
Based on the analysis' of the property in relation to the
comparables, the appraiser has estimated a Sales Comparison
Approach Value of $650.00 per acre. 207 acres at $650 per acre
equals $134,550.00.
207 acres x $650 = $134,550
SALES COMPARISON VALUE - $134,550
15
INCOME APPROACH
The income approach is the appraisal method whereby the income to
the ownership of the property is processed to a value indication.
This value is based on the principle of anticipation as the owner
is trading current assets for the right to future income streams.
The relationship between the two is the capitalization rate. Four
major steps in this approach are:
I. Economic Rent
II. Operating Expenses
III. Develop an appropriate capitalization rate
IV. Concert net operating income to a value estimate
Economic Rent - There is insufficient data available to determine
an economic rent for the total parcel. The children's zoo area
has a minimal cost lease because it is a community project that
does not reflect current value of the property it is leasing. The
tillable acreage is such a small portion of the total property
that the current income ($1,860 a year) would not reflect a total
income value.
16
COST APPROACH
GENERAL:
The cost approach is based upon the theory that a well-informed
buyer will pay no more for a property than the cost to replace it
in a reasonable time, plus the cost of similar land. Typically,
the buyer will pay something less for existing property than its
cost new, and this is attributable to factors of age and changing
standards of layout and construction. The cost new, then is
reduced by these factors in three categories of depreciation to
arrive at a discounted improvement value. These categories of
depreciation are physical, functional, and economic. Physical
depreciation is caused by the physical wear of the improvements
and their age. Functional obsolescence is due to either
inadequacies or superadequacies in building design. Economic
obsolescence is caused by forces outside of the property which
decrease the utility of value of the improvements. in outline
form, the following steps will be taken in this section of the
report:
I. Land Value Estimate
II. Reproduction Cost Estimate
III. Elements of Depreciation
IV. Recapitulation
17
I. LAND VALUE ESTIMATE
In order to estimate the market value of this site, I have
compared it with a number of land values at the Dubuque County
Courthouse as well as comparing it with recent comparable land
sales. See Sales Comparison Approach, page 13.
II. REPRODUCTION COST:
The replacement cost of building is the total cost of
construction required to replace the subject building with a
substitute of like utility and quality. These costs include
labor, materials, supervision, contractors profit and overhead,
architect's plans and specifications, sales tax and insurance.
An estimate of reproduction cost is obtained from the "Marshall
Valuation Service Cost Manual" which includes several types of
buildings.
III. ELEMENTS OF DEPRECIATION:
Depreciation is loss in value to any cause. It is the difference
between the value of a structural improvement and its
reproduction or replacement cost as of the day of valuation.
IV. RECAPITULATION
The barn and animal shed were not considered due to their poor
condition and the fact they do not contribute to the potential
income of the property. The children's zoo fence and
improvements are not owned by the City of Dubuque, and were not
considered in the value of the subject property.
The only value determination utilized from the Cost Approach is
in the Land Value Estimate. This data has been included in the
Sales Comparison Approach.
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RECONCILIATION AND FINAL VALUE ESTIMATE
The valuation for land has been estimated based upon a Sales
Comparison Approach with other properties which have sold
recently, and would be direct competition to subject property.
The Sales Comparison Approach ($134,550) was based on the land
value. The improvements were not considered to add value to the
subject. Differences in location, land size, use, date of sale,
improvements, and any other notable factors of the comparables
relative to the subject were considered.
The Cost Approach to Value in this appraisal did not provide
separate value data, other than the land, which is included in
the Sales Comparison Approach.
The Income Approach to Value was not given consideration in this
report. The composition of the land (tillable versus wood and
pasture) limits its current income potential so as to provide no
real data to assist in final valuation.
It is this appraisers opinion that the only approach applicable
to this property for the purpose of this appraisal, is the Sales
Comparison Approach.
In the primary Highest and Best Use consideration the final
property value would not be materially affected by withholding
the children's zoo or model plane club -parcels from a sale.,. The
only affect would be less land todsell. Tliey would however affect
the value for some of the "alternate uses" discussed on page 9.
It is the appraisers opinion, based upon knowledge, experience,
and upon analysis of the foregoing data, that the Market Value
of the subject property as of 15 February 1988, is $134,550.
ONE HUNDRED THIRTY-FOUR THOUSAND, FIVE HUNDRED FIFTY DOLLARS.
DERMAN
ER SENIOR APPRAISER
R.J:FELDERMAN
MASTER SENIOR APPRAISER
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