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Home My WebLink AboutHUGH M WOODS PUD - FINAL - 26-88E - CORRESPONDENCE - ADJACENT OR AFFECTED PROPERTY OWNERS01/03/1995 12:46 3032231481 • FINANCIAL MATTERS 10 PAGE 01 DATE: 9S TO; J-1 v-e d / 4 FAX# i- (,37V ✓-P T,44 r. O Y (T -f - Number of pages faxed iucludb g cover sheet FROM: )C,4�A 9, 4rz.P4 FAX# -i yOr L If you do not receive all of the gages indicated please contact us at (303) 282-8339_ 01/03/1995 12:46 3032231481 FINANCIAL MATTERS PAGE 02 FROM : SAATHOFF I-AIJ OFF 1 ,= E PC PHONE NO. : 303 224 0397 SAATH4HFF LAIW OFFICE" P . C . 315 WEST OAR STRNNT svzTE 504 FORT COLLINS, C o26 0521 (303) 224-039? Teledopy (303)-_-r..,.---RM Dec, 12 1994 05:52FM P1 TELECOPY TO THE FOLLOWING NUMBER: 282-1080 TOi Steve Pfeiater of RealteC and Kathy Richardson RF : Guy es including this information sheet: 1 pages. Total number of gag Time: approx. Date: December 12, 1994 303 224-2026 if all pages not received. PLEASE NOTIFY verlia Dexter at ( )ffi¢�_��___^��^�G=^_�,��- F074lfOCC®�-ca�•a7Cc �sC��d4CmC��C��L�.-� FROM: Denise L. saathoff NOTE: T have had the ophoordtu i Y Clients. They 1�94, ust F iday December 9, to discuss the proposed easement with my received this information from you on when I was attending a seminar, and was r unavailable. ation of the My clients require more tteim w o like an rxgreem ntthe uwith the city property. Additionally, Y the property into that they will still be able to develop e@� that the easement commercial property, meaning that the onXY sand that my clients may is not for wetlands, but for drainage only, culverts, etc. later change the eclients aresaware that an adjoining landowner may Additionally, my be applying to the city to change his drainage easement to the back of his property. They believe so south � thus resulting such a change win ill aachangeffect tof he flow of the drainage to the the easement. My clients' main concerns are ted for not that be negati ely fairlyhey be impac ed sin the the easement, that they development of their property. in and that the easement is ro h if d�acribedaaseQ to how it Will lie g easement, i en the factor of he change noted above. My clients axe not opposed to commercial development of the area, and realize that their current irhome may reg denceeComNvr dorthey hcial aeran; requiring them to move Woroidnte�e tsng in the area. They are SiMPli objection to Hugh M. trying to protect t please contact me regarding your thoughts on these issues. Pleas4 also give me your telephone number so that I may easily reach you Thank you for your time and attention. FOR OFFICE USE ONLY: Bane of Client: Richardson #92056-2 01/03/1995 12:46 3032231481 FINANCIAL MATTERS PAGE 03 - i • FROM : SAATHOFF LAW OFFICE PC PHONE NO. : 303 224 0397 Dec. 13 1994 05:59PM P1 SARTHOFF LAW OFFYCE, P.C. 315 WEST OAK STREET BUTTE 504 FORT COLLINS, CO 00522 (303) 224-2026 malecopy: (303) 224-0397 TELECOP'Y TO THE FOLLOWING NUMBER: 282-1080 TO: Steve Pfeister RE: Richardson's Easement/Hugh M. Woods Total number of pages including this information sheet: 2 pages. Date: December 13, 1994 Time: approx. _. __3:0D p.m. _ PLEASE NOTIFY Verlia Dexter at (303) 224-2026 if all pages not received. �cssss�at=cv�xsrzc=c:��7kls=s=��l�aF=T==�sxc=c��usos;�=srtca�— :,rsss=�crJEsssc�_�ia1.«+=cow FROM: Denise L. Saathoff NOTE: Thank you for your information today. I am summarizing the information in order to verify the accuracy of my summary and to provide my clients with the information in a timely manner: Glen Schluter of the Storm Drainage department of, the city has verbally verified to you that the proposed easement will not adversely affect the Rlchardsons when they are ready to develop commercial lots. Because the Richardsona are reluctant to rely on a verification which does not guarantee approval by the city in the future, the Richardsons prefer an agreement with the city. However, Glen Schluter verified that an agreement with the city is a process that requires; city council approval, and thus could take a vast amount of time, without guarantee as to results. Therefore you recommended that the Richardsons lace restrictions on the easement itself. Glen Schluter agreed w th your recommendation and proposed that the wording be worked out between myself and the city ittQrney, Paul Ecklund. Glen Schluter informed you that the standard operating procedure when the Richardsons are ready to develop the lots and to change the drainage system to culverts would be to submit a Site Plan which shows the current easement and how the easement would be changed to be channelized and contained. Once the Site Plan is approved, the city vacates the old easement. Once the easement is contained, the Richardeons receive back the use of the land from an easement which is currently about 13,OOO square feet, to an easement contained in a 10 square foot channel for a total of about 21000 square feet, The Richardson& Would not be required to return any compensation they currently receive for the easement, and would get to "sell the land twice", so to speak. The city does not pay for easements such an the proposed easement. All compensation comes from Hugh M. Woods which is prepared to pay for the property at full compensation under the city standards. The city generally values easements at ones -half of the ease price 01/03/1995 12:46 3032231481 FINANCIAL MATTERS 0 PAGE 04 FROM : SAATHOFF LAW OFFICE PC PHONE NO. : 303 224 0397 Dec. 13 1994 06:00pM P2 of the land if it were sold outright. Currently property is valued at approximately $10,000.00 to $16,000,00 per acre. In that general area, a property is being negotiated with an original asking price of $18,000.00 per acre. If Hugh M. Wooden was willing to paX at the highest market quote of $18,000.00 per acre for .304 acres at 50%, then the sale price would be $2,736.00. Such compensation would be with land valued over market compar+abl.es . I informed you that I would present the information to the Richardsons, for their review and comment. I will not begin drafting the changes to the easement until I am authorized key the Richardsons. I will inform you of their decision. �yts �.�taslC ��altl�C�.�lli��a�lalt4ccaO! �R�ccm sl�cc3l��clS1�l�—m.'.l1�sc�litl==mMf!! Q—fM�P �� O FOR OFFICE USE ONLY! Name of Client: Richardson #92056-2 01/03/1995 12:46 3032231481 FINANCIAL MATTERS PAGE 05 FROM : SAATHOFF L-AW OFFICE PC PHONE NO. : 303 224 W97 pe c . 15 1954 03 : 54PNi PMo SAATHOFF TAW OFFICE, P.C. 315 WZST OAK STRZET SUITE 504 FORT COLLINS, CO 80921 (303) 224-2026 Telecopy: (303) 224-0397 TELECOPY TO THE FOLLOWING NUMBER: 282-1080 TO: Steve Pfeister itF : Richardson's Easement f Hugh M. woods Total number of pages including this information sheet: 2 pages. Date: December 15, 1994 Time: approx. 3:80 p.m. PLFASE NOTIFY Verlia Dexter at (303) 224-2026 if all paged not received. FROM: Denise L. saathoff NOM I have had the opportunity to discuss your information and the situation with the Richardsons. They have several concerns, which I consider valid. First, the valuation issue does not seem to them tv be solely a factor of the value of the land in its current condition. The Richardsons heave already incurred attorney fees in this matter. Additionally, the flow of water may affect the future development - ability of the land, not only in terms of city approval, but as a practical matter regarding the use of the land (sea reasons below). Second, the Richardsons are very concerned that the city feels an easement is necessary, in light of the fact that water already flows on the R,ichardson's property without such an easement. If the city did not believe that the flow of the water would increase, why would they need the additional protection of an express easement? Third, if water flow increased over the easement as a result of the commercial development of the land appurtenant to the Richardson's land, than the Richardsons may find themselves in a position to have to litigate the damage from the additional flow. They are not particularly interested in buying a lawsuit. Fourth, if the Ri.chardsone place restrictions on an easement which would result in the termination of the easement, the Richardsons would most likely have to litigate through a costly, quiet title action. The issues would be difficult, because even if successful, the Richardsons would still have the additional, water flawing onto theAr property from the commercial property which will consist of a building and a large area of asphalt, neither of which absorb water. An easement of necessity or by ,implication may hamper the Richardson's development plan. Lastly, even assuming the Richardsons do not experience the above difficulties, they would still have to incur additional expenses to implement and then change the easement upon development. They 01/03/1995 12:46 3032231 FINANCIAL MATTERS PAGE 06 FP.CiM : SAATHOFF Lk,i f1FF ICE PC PHONE. NO. : M3 224 0397 L►ec. 15 1994 03:55PM P2 might be better off by simply developing the property now, without an easement, by applying for annexation and a site plan. The exhort time frame given by Hugh M. woods to consider the ramifications of an easement, has been an added stress in the laves of the Richardsons, who are not able to make Hugh M. Woods' concerns the Richardson's concerns. The Richardsons purchased the property for investment purposes, and must Carefully consider all factors that may affect the future profitability of their land. Therefore, the Richardsons are willing to consider an offer by Hugh M. Woods to purchase the entire 5 acres and residence (which can be converted to an office building) for $375,OQU.00 plus all closing costs. Then Hugh M. Woods could incur all of the potential liability for the easement to the city, because Hugh M. woods would be the grantor of the easement. Additionally, Hugh M. Woods would be able to close the Real Estate Purchaoe in a time frame which is shorter than going through City council for an Agreement regarding future development and land use. Likewise, the Richardsons would be able to purchase alternative, investment property which would not have all of the risks that the easement appears to offer _ them. � q�i�=�rF�c� scme�-=a�so== ac �.� � a�si��=��—=Ar��===nras�=esoc�Mt71G=s�,�—ors �cY►s�=� s � ��=�=was FOR OFFICE USE ONLY: Name of Client: Richardson #92056-2 —j _.... «.... r—j iv♦ v�%,OAIIvAAVq OLL411 Qi] I.ia4 FLVPVU45U c31%sem®nr. All compeneaY an come8 from Sugh M. Wood*-half hich is prepared to pay for the pro ty at full compenuationer the city standards. The city gen ally valueu easements at of the sale price Lastly, eA& assuming the Richardsonsft not experience the above dif f icultiVW, they would still have to TWcur additional expenses to implement and then change the easement upon development. They