HomeMy Public PortalAboutOrdinance 2488a
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ORDINANCE NO. 2488
AN ORDINANCE AMENDING VILLAGE ORDINANCE N0.778, CHAPTER 7,
ARTICLE 11, PAGE 4 SECTION B-2 INCREASING THE LAND VALUE
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD
OF TRUSTEES OF THE VILLAGE OF PLAINFIELD, WILL AND KENDALL
COUNTIES, ILLINOIS AS FOLLOWS:
I. That Ordinance No. 778, Chapter 7, Article 11, Page 4, Section B-2 is
hereby amended to require a land value of $135,000 far Plainfield
Community Consolidated School District 202.
That all ordinances or parts thereof in conflict herewith are hereby amended.
This Ordinance shall be in full force and effect from and after its passage and
approval as required by law.
This Ordinance shall be numbered as Ordinance No. 2488
PASSED THIS 20th DAY OF June , 2005.
AYES: Manning, Racich, Dement, Fay.
NAYS: 0
ABSENT: Collins
APPROVED THIS 20th DAY OF June, 2005.
A1~TEST: - ...
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V GE CLER
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COMPLETE RESTRICTED USE APPRAISAL REPORT
OF SALES OF FULLY IMPROVED
RESIDENTIAL SITES LOCATED IN
PLAINFIELD, WHEATLAND, LOCKPORT AND DUPAGE TOWNSHIPS
WITHIN PLAINFIELD COMMUNITY CONSOLH)ATED SCHOOL DISTRICT 202
UNINCORPORATED WILL COUNTY, ILLINOIS
For
MS. DIANE C. COOPER
Assistant Superintendent
Business & Operations
PLAINFIELD COMMUNITY CONSOLIDATED SCHOOL DISTRICT 202
15732 HOWARD STREET
PLAINFIELD, ILLINOIS 60544
As of
APRIL, 2005
By
WILLIAM H. MET7, & .ASSOCIATES, INC.
l 5020 SOUTH CICERO AVENUE
OAK FOREST, ILLINOIS 60452
1.
R
William H. Metz & Associates, Inc. Real Estate Appraisers ~ Consyiltu~~ts
Mnt
William H. Metz, MA.i. S1ZA
15020 S. CICERO AVENUE
OAK FOREST, ILLINOIS 60452
(708) 535-1313
FAX (70$) 535-1316
April 1$, 2005
Ms. Diane C. Cooper
Assistant Superintendent
Business & Operations
Plainfield Community Consolidated School District 202
15732 Howard Street
Plainfield, Illinois bOS44
Re: Complete Restricted Use Analysis of sales of fully improved
residential sites located in
Plainfield, Wheatland, Lockport and DuPage
Townships Within Plainfield Community Consolidated School
District 202
Unincorporated Will County, Illinois
Dear Ms. Cooper:
In accordance with your request, the appraiser has provided an analysis of sales for residential sites
located in Plainfield, Wheatland, Lockport and DuPage Townships, within the Plainfield Community
Consolidated School District 202, Unincorporated Will County, Illinois. The purpose of the
analysis is to estimate the value of an improved one-acre residential site in the Townships for
calculation of the Will County Contribution Ordinance. As defined by the Will County School Site
Contribution Ordinance, an improved acre parcel is defined as:
"... an acre of land that is fine graded and made ready for construction with utilities,
sewer, water and streets, including enclosed drainage and curb and gutter, brought
along the entire street frontage of the land. "'
1 Will County School Site Contribution Clydinanee
Enacted: July 18, 1973
Amended: September 11, 1973
Effective Date: September 19, 1973
Revised: May 25, 1993
Amended: January 16, 1997
Ms. Diane G Cooper, Assistant Superintendent April 18, 2005
Business & Operations page 2
Plainfield Community Consolidated School District 202
This analysis also takes into consideration that the price per acre should be based upon a site area
suitable far a school site. The price per acre as shown in this analysis is based on a site area that
would be suitable for construction of a school. It is your appraiser's opinion that, depending on the
type of school facility constructed, a minimum site size between seven and 13 acres would be
required. The price per acre, as shown in this appraisal report, takes this discounting of a larger site
into consideration. If the value per acre was limited to one single acre, the value would be higher
than that indicated in this report. This interpretation of the Will County School Site Contribution
ordinance was provided by Cynthia L. Guzman, Assistant State's Attorney for James W. Glasgow,
Will County State's Attorney, an April 16, 1997. A copy of this interpretation is found in the
Addenda of this report.
This is a Complete Restricted Use Appraisal Report which is intended to comply with the reporting
requirements set forth under Standard Rule 2-2(c) of the Uniform Standards of Professional
Appraisal Practice for a Complete Restricted Use Appraisal Report. As such, it does not include
discussions of the data, reasoning, and analyses that were used in the appraisal process to develop
the appraiser's opinion of value. Supporting documentation concerning the data, reasoning, and
analyses is retained in the appraiser's file. The information contained in this report is specific to the
needs of the client and for the intended use stated in this report. The appraiser is not responsible for
unauthorized use of this report.
The Plainfield Consolidated Community School District 202 boundaries are delineated on the School
Boundary Map provided by District 202 found in the Addenda of this report. The school district is
located in. Plainfield, DuPage, Wheatland, Lockport and Na-au-say Townships.
The sales considered were analyzed and compared to a one-acre parcel with all infrastructure
improvements completed within these townships. Adjustments were made for size, type and quality
of vegetation, amount of infrastructural improvements, and any other special amenities that were
located within the individual subdivisions analyzed.
In addition to adjusting the various sales to arrive at an opinion of value of an improved residential
acre, your appraiser also completed a second valuation method known as a Subdivision Analysis.
This method consisted ofan analysis ofsubdivisions within the Plainfield Community Consolidated
School District 202. The Subdivision Analysis took into consideration the retail value paid far lots,
as well as infrastructure costs, marketing casts, interest expenses, and developers' profit. The value
indicated by this method, although given secondary consideration, supports the value as indicated
by the sales comparisons.
Same of the sales consisted of larger parcels which were located throughout the townships. These
sales were analyzed and compared to a site large enough to accommodate a school (between seven
and 13 acres).
Ms. Diane C. Cooper, Assistant Superintendent April 18, 2005
Business & Operations Page 3
Plainfield Community Consolidated School District 202
In the final analysis, it is your appraiser's opinion that the value per improved residential acre, as
stipulated by the Will County School Site Contribution Ordinance, as of April, 2005, is well-
supported at $135,000 per improved acre.
ONE HUNDRED THIRTY-FIVE THOUSAND DOLLARS
($135,000)
I trust this informatian is sufficient for your needs at the present time. Should further information
be required, please feel free to contact us.
Respectfully submitted,
WILLIAM H. METZ & ASSOCIATES, INC.
Slaaron Metz-Gohla, ~~
Certified General #15.0001489, expires 9!30/05
Reviewed and approved by:
,.
w
William H. Metz, , SRA
General Certified #153.0000395, expires 9/30/05
SMG:bb
CERTIFICATE OF VALUE AND CERTIFICATION
It is the appraiser's opinion that the value of an improved residential acre as stipulated by the Will
County Site Contribution Ordinance in Unincorporated Plainfield, Wheatland, Lockport and
DuPage Townships within Plainfield Community Consolidated School District 202, as of April,
2005 would be well-supported at $135,000 per acre.
ONE HUNDRED THIRTY-FIVE THOUSAND DOLLARS
($135,000)
I certify that, to the best of my knowledge and belief:
The statements of facts contained in this report are true and correct.
The appraisal assignment was not based on a requested minimum valuation, a
specifrc valuation, or the approval of a loan.
This appraisal was performed in accordance with the current regulations of the
Federal Financial Institutions Reform, Recovery, and Enforcement Act of 19$9
(FIRRF,A), as well as the Uniform Standards of Professional Appraisal Practice
promulgated by the Standards Board of the Appraisal Foundation.
The reported analyses, opinions, and conclusions are limited only by the reported
assumptions and limiting conditions, and are my personal, unbiased, professional
analyses, opinions and conclusions.
I have no present or prospective interest in the property that is the subject of this
report, and I have no personal interest or bias with respect to the parties involved.
My compensation is not contingent upon the reporting of a predetermined value or
direction in value that favors the cause of the client, the amount of the value esti-
mate, the attainment of a stipulated result, or the occurrence of a subsequent event.
Neither my engagement to make this appraisal (or any future appraisals for this
client), nor any compensation therefore, are contingent upon the reporting of a
predetermined value or direction in value that favors the cause of the client, the
amount of the value estimate, the attainment of a stipulated result, or the occurrence
of a subsequent event.
My analyses, opinions, and conclusions were developed, and this report has been
prepared, in conformity with the requirements of the Code of Professional Ethics
and Standards of Professional Appraisal Practice of the Appraisal Institute.
4
William H. Metz & Associates, Inc.
CERTIFICATE OF VALUE AND CERTIFICATION
(Continued)
The use of this report is subject to the requirements of the Appraisal Institute
relating to review by its duly authorized representatives.
The appraiser completing this appraisal assignment has the knowledge and
experience to complete the assignment competently.
The Appraisal Institute conducts a voluntary program of continuing education for
its designated members. MAIs and SRAs who meet the minimum standards of this
program are awarded periodic educational certification. As of the date of this
report, William H: Meta and Sharon Metz-Gohla have completed these requirements
under the continuing education program of the Appraisal Institute.
Sharon Metz-Gohla has made a personal inspection of the property that is the
subject of this report.
No one provided. significant professional assistance to the persons named in this
report.
WILLIAM H. METZ & ASSOCIATES, INC.
Sharon Metz-Gohla, R~
Certified General # 153.0001489, expires 9/30/05
Reviewed and approved by:
w
William H. Metz, MA , RA
General CeniCred # 153.0000395, expires 9/30/05
S
William H. Metz & Associates, Inc.
SCHOOL BOUNDARY MAP
William XI. Metz & Associates, hoc.
INTERPRETATION LET"I'ER
~1'~~77 ~r ~~~~~~
s~.~ s Asroz~v~ of ~. court
~.~ Wei ,~~ sit„ Jaw ~ sa~aa
s~.~.~z7.a~s FAX vo, a7s~rar.s~os
Apryi 1 ~, 19g7
THAN5MlTTIrC V1A FACSIMlL1=
A,VD ~FGl1l.aR MAIL
I7t. Edward Kama, 5vperirrtanderrt
Homer Cnrrmurttty t;nnsatidatCd Schad{ t7is~trice 33C
1 X733 8eil F7oad
Lockpcar[, !L 8t34d1
Fe: Wii! Cosmty Sct-aot Sltc Contriautiart grdinarrce
Cear Dr, Karns
You recTuessted an :ntcrpratatton nt para~ph 1 at Srctinn 'CB121 a'F the WsA Cot-nJcy
Scho^! S+te Convlbutiort Dnfrnance to asalst the appraisers used by yhe schaot da'svic°t in
arriving at the value of art {mPcov~ ~• it is my understamd'ir~ that questior+s arise, no-r frar're
'the deflnitiare of art improved acre, 6cst from *.he language which ittdcates that the l'~At
appraise! shau;d include muitipte~ acre parcels suitable for schaat sites, if a•.raiisb(r. -l "nape the
following analysis and InxerpretaTis-n are helpful.
~Fhe enabling stattRG and the cflrlnty ctrrlirlance provide far rlerfic~Liar78 of tared ar cash
in :ieu of tend, where 8pgropriate, TFccrefore, tl~e amo~mt' of arty cash corr~butiars mat Fs
r~:quired should be subsranaalfy e~civaleret try the value of any (and which co~td be used fet
a school site_ {n cxrhet wards. the developc~s avt of pack.?'C contxli~ctdan shpyld ire about tie
same whether they are ca[ruil~uting tared or cash.
Fvr this reasczrt, .the ardtn~nce ind~ates that the iVtA! ~ppraisat ~shculd mice ir.~
ConsidBra'Clon any rnUltlpie acre parcels (meaning pa*~ceta cxxrssis#ir~g of mar~a t}•rar~ one acres
lace-..ed in the achaal di5'triCT that would lie approprtafie for a sthooYl site, whr_sG available. ~iTrs
vr;~y the appr~alsat inclcrdts land which could be used for a school errs, whereas sirtgto acre
parcels are runt frkely to lie used for a schoo! site,
1 nape this letter asssu your appraisers. F'{ease feet f: ee :.o co~c~'tac:t me ~ t may ~e og
further assistance.
~~.
cc: F{ichartt Duran
f=rnla Tortdli
t4ichglets $akeliarfau
Very truly yours,
.~~uu!>=s w. ~u~s~ow
W!1!. CDUKTY 57AT~'S ATrQANEY
ICY; Cynthia L. Gwcman
AssisCant State's AZtomcY
'.wP
William H. Metz & Associates, inc.
QUALIFICATIONS
of
SIIARON METZ GOIILA, SRA
PROFESSIONAL AFFILIATIONS
Appraisal Institute - SRA Designation
ILLINOIS STATE CERTIFIED GENERAL REAL ESTATE APPRAISER
LICENSE #153-0014$9
PKEVIOUSLY HELD ILLINOIS STATE CERTIFIED RESIDENTIAL REAL ESTATE APPRAISER
LICENSE # I Sb-000901
APPRAISAL EXPERIENCE
Complete Residential and Commercial Appraisals for purposes of mortgage loans, estates and estate
planning, condenrnation, foreclosures, fire loss and real estate purposes including sales, listings, and real
estate tax protests.
Property types appraised include residential, multi-family, commercial, industrial, special purpose, vacant
land and subdivisions.
EMPLOYMENT
1992 to present: William H. Metz & Associates, Inc., Managing Partner and Real Estate
Appraiser.
1984 to 1992: William li._Metz & Associates, lne., Rcal Estate Appraiser.
Experience includes residential, commercial, industrial, special purpose,
and vacant land appraisals for lending institutions, attorneys, relocation
companies, insurance companies and private individuals.
1982 io 1984: Count Mutual Insurance, Claims Representative
Experience includes the investigation and negotiation of homeowner,
automobile and liability claims.
1980 to 1982: Economy fire & Casual, Claims Representative
Experience includes investigation, estimate writing and negotiation of
homeowner and liability claims; included fire loss and reconstruction
estrmatrng.
1978 to 1980: Appraising residential properties for mortgage and relocation purposes;
general office work in appraisal office.
William H. Metz & Associates, Inc.
QUALM: [CATIONS
of
SHARON METZ GOHLA, SRA
(Continued)
EDUCATION
Thornton Community College -Associate of Arts Degree
Southwestern Michigan College
Governors State University
Various seminars sponsored by the Appraisal Institute, formerly known as the Society of Real Estate
Appraisers and the American Institute of Real Estate Appraisers
REAL ESTATE APPRAISAL COURSES COMPLETED
Appraisal Institute: Course VIII - Residential Appraising
1LV =Basic Income Capitalization -Course 310
ILE -General Applications - Course 320
IL-IV -Appraisal Procedures -Course I20
1L-1-Standards of Professional Practice, Part A (Standards)
IL-II -Principles of Appraisal, Part B (Ethics)
IL-III -Residential Case Studies
National Association
of Independent Fee
Appraisers (IFA): Course 1.48 -Report Writing-Nan Residential
Variaus seminars far the Society of Real Estate Appraisers and Appraisal Institute
Homeyuity (relocation company) -seminar for real estate appraisers
CONTINUING EDUCATION CLASSES COMPLETED/PASSED
Understanding Limited Appraisal-Residential
How to use the HP 12 Calculator
Appraising along the Information Highway
Conditions of the Chicago Real Estate Market
USPAP Review
Analyzing Market Values cif Residential Real Estate
A Day With The Offices of Banks & Real Estate
Fair Housing/Fair Lending
ICAP - 2001 Illinois Appraiser's Update
William H. Metz & Associates, inc.
QUALIk ICATI~NS
OF
WILI.IAlti1 II. iVIETZ, IVIAI, SRt1
Experience
1972 to present: President, William H. Metz & Associates, Inc. - Real Estate
Appraisers and Consultants
1957 to 1972: Vice President and Chief Appraiser, South Suburban Federal
Savings & Loan Association; appraising residential, multi-family,
commercial, industrial, and special-purpose properties
In addition to appraising, has been active in the fields of real estate finance, construction, sales and
development.
Professional- Memberships
Appraisal Institute: MAI - Certificate #4558
Residential Member (S1tA) -
Certificate #31
Various committees - 1958 to present
South/Southwest
Association afRealtors: South Suburban Board of Realtors
President ~ 1973 and 1974
Board of Directors -various committees
Illinois Association of Realtors
National Association of Realtors
Professional Certification
Certified General Real Estate Appraiser (State of Illinois)
License No. 153-000395
Certified General Appraiser (State of Indiana)
License No_ CG4930084
Licensed Reai Estate Broker, State of 111inois
Licensed Real Estate Broker, State of Indiana
William H. Metz & Associates, Inc.
QUALIFICATIONS
OF
WILLIAM Ii. METL, MAI, SRA
(Continued)
Education
Graduate Woodrow Wilson College, Chicago, Illinois
DePaul University
American Institute of Real Estate Appraisers
Courses I, Il, IV, VI, VII, Standards of Professional Practice and various seminars
and courses offered by the American Institute of Real Estate Appraisers and the
Society of Real Estate Appraisers_
'The Appraisal Institute conducts a voluntary program of continuing education for its designated
members. MAIs and SRAs who meet the minimum standards ofthis program are awarded periodic
educational certification.. This appraiser is currently certified under this program.
As of the date of this report, William I-I. Metz, MAI, SR~1, has completed the requirements under
the continuing education program of the Appraisal Institute.
William ~~. Metz & Associates, tnc.
'WILLIAM H. MET7 & ASSOCIATES, INC.
PARTIAL LIST OF CLIENTELE
I
ARCIIDIOCESAN OF CHICAGO
SANKS• SAVINGS AND LOANS
I st Nationwide Bank
A.l. Smith Federal Savings Bank
Advance Bank
American National Bank
American Trust & Savings Bank
Bank Calumet
Bank One
Bank of Homewood
Bank of Matteson
Builders Bank
Chesterfield Federal Savings & Laan
GIB. Sank
Citibank
Cole Taylor Bank
Continental Illinois Bank
Coyest Banc
I]owners Grove National Bank
East Side Bank & Trusl Company
Fifth/Third Bank
Financial Federal Trust & Savings Bank
First Bank
First Bank and Trust Company of Illinois
First Chicago Bank
First Cook Community Bank
First Natianal Bank of Blue Island
First National Bank ol~lllinois
Firstar Bank
Founders Bank
George Washington Savings Bank
Grand National Bank
Great Lakes Financial
Harris Bank
Heritage Olympia Bank
Interstate Bank of Oak Forest
Kankakee Federal Savings Bank
LaSalle National Bank
Manufacturers Sank
Mercantile National Bank
Midwest Bank & Trust Company
Mutual Bank
NAB Bank
Old Second National Bank
Palos Bank and Trust
Pinnacle Bank
Prairie Bank & Trust Co.
Pullman Bank & Trust Company
Republic Bank of Chicago
Royal American Bank
Savings of America
Seaway National Bank.
South Holland Trust 8c Savings
Standard Bank & Trust Company
St_ Paul Federal
Suburban Federal Savings & Loan Assoc.
BUILDERS AND DEVELOPERS
Capital Property Development
Continental biomes
First Suburban Builders Corp.
Floyd M. Phillips & Co.
Gierezyk Development, Inc.
Hoffman Corporation
Inter-Continental Real Estate
Kennedy Brothers, Inc.
Levitt & Sons
McNaughton Builders
Polo Builder's, Inc.
Rose Construction
Simborg Industrial Real Estate
U.S. Home
William H. Mete & Associates, Inc,
WILLIf11vI II. METZ & ASSOCIATES, INC.
PARTIAL LIST OI' CLIENTELE:
II
CI'T'IES AND VILLAGES Honeywell Corporation
The Independent Order of Foresters
City of Blue Island (Buffalo, NY)
City of Chicago Heights Interlake, Inc.
City of Harvey J_L_ Prescott Co.
Village of Crestwood K-Mart Corporation
Village of Dolton McDonald's Corporation
Village of Flossmoor McKesson Corporation
Village of Glenwood Metlife Capital
Village of Hazel Crest The Flintkote Company
Village of Homewood T.R.W., Inc.
Village of Lansing Unicord Corp..
Village of Lynwood Union Pacific Railroad
Village of Matteson United Airlines
Village of Midlothian U.S. Steel Corporation
Village of Oak Forest Westinghouse Corporation
Village of Park Forest
Village of Richton Park
Village of Sauk Village GOVERNMENT AGENCIES
Village of South Holland
Village of'I`hornton Federal Aviation Administration
Village of University Park Federal Deposit Insurance Corp.
federal. Borne Laan Bank
Federal National Mortgage Assac_
CORPORATIONS Federal Reserve Bank
Forest Preserve District of Caok County
3M Company Illinois Department of Transportation
Aetna Life & Casualty Insurance Co. lnternaI Revenue Service
Allied Tube & Conduit Corp. Metro
Allstate Insurance Co. Metropolitan Water Reclamation District
American Steel & Foundry Regional Transportatiart Authority
Amoco Oil Company Resolution Trust Corporation
Chrysler Realty Carp. U.S. Department of Justice
Cities Service Corp. U.S. Environmental I'rotectiozi Agency
CNL Group, Inc. [1.5. Postal Service
Continental Casualty Co.
Eastman Kodak Co.
Economy Fire & Casualty
E.I. DuPont de Ncmours
FMC Corp.
Gas City
William H. Metz & Associates, Inc.
WILI.aIAM II. NiETZ & ASSOCI.~TES, INC.
PARTIAL LIST OF CLII;NTELC
III
HOSPITALS; SOCIAL SERVICE
AGENCIES
SCIIOOL AND PARK DISTRICTS
Aunt Martha's Youth Service Center
Christ Hospital & Medical Center
Family Service Center
Ingalls Memorial Hospital
South Suburban Hospital
St. James Hospital
Country Club I-Iills Park District
Homewood-Flossmoor Park District
Oak Lawn Park District
School District 147
School District 148
School District 149
School District 153
School District 154
MORTGAGE BANKING FIRMS
Acumen Mortgage
C.M.A. Mortgage, Inc.
Citicorp Mortgage
Citizens Financial Services
First Mortgage Corporation
Funding Mortgage
Great American Mortgage Services
Midwest Express Mortgage
Mortgage Linq
N13D Mortgage
North American Mortgage
Old Kent Mortgage Company
Worldwide Financial Services
VARIOUS ATTORNEYS AND
INDIVIDUALS
RELOCATION FIRMS
Armstrong Relocation Services
Associates Relocation
Cendant Mobility
Commonwealth Relocation Services, Inc.
Executive Relocation
Prudential Relocation Management
Remax International Relocation
William H. Metz & Associates, Inc.