n N :T 0 0 ;0,'" 0 rt> W1 -n » 1c 1 "t:l::l '" 􀁾􀀠:T '" C 1 0 rt> ;;C 0 0 N '" CO en 􀀮􀁾􀀠.%/01_ P 􀀻􀀲􀁾􀁨􀀭TOWN OF ADDISON F a PAYMENT AUTHORIZATION MEMO DATE: Check Ie;676rofJClaim # Vendor No. Vendor Name Address Address Address Zip Code DTOTAL Finance 􀀮􀀭􀀭􀀭􀀭􀀮􀀭􀁾.•..-........•....-... - ...-.OWLES &THOMPSOl\ A Professional Corporation ATTORNEYS AND COUNSELORS ANGELA K. WASHINGTON 214.672.2144 AWASHINGTON@COWtESTHOfJlPSQN.COM JuJy6,2004 VIA FACSIMILE (214) 855-8848 AND REGULAR U.S. MAIL Ms. Patricia A. Sherman Bruce, Esq. Vice President Republic Title ofTexas, Inc. 2626 Howell Street, 10th Floor Dallas, TX 75204-4064 RE: Parcel 7 -Arapabo Extension of Road Project Your File No. GF 04RI0027/SJ7 Dear Patricia: I have reviewed the draft Purchaser's Statement for the above-referenced property, which was forwarded to my office on July 1,2004. Please note that the purchase price should be $1,717.54. Otherwise, the statement looks fine. Please finalize the statement and let me know when you have received the necessary affidavits and other documents to ensure clear title to the property. Thank you for your assistance in this matter. I look forward to closing this transaction. Sincerely, 􀁾􀁴􀀢􀁾􀀡􀀮􀀮􀀮􀀭􀀭􀁾􀀠AKW/ yjr c: Mr. Mike Murphy, w/Addison Mr. Steve Chutchian, wI Addison Mr. Kenneth C. Dippel, w/firm 901 MAIN STREET SUiTE 4000 DALLAS, TEXAS 􀀷􀁓􀀲􀀰􀀲􀁾􀁚􀀷􀀹􀀳􀀠DALLAS T Y l E R TEL 214.672.2000 FAX 214.672.2020 Docllment It !1141J!} WWW,COWlESTHOMPSO"',COM · ...;'OWLES &THOMPS01, " A Professional Corporation ATTORNEYS AND COUNSELORS ANGELA K. WASHINGTON 214.612.2144 AWASH1NGTON@COWLESTHOMPSON.cOM April 27, 2003 Mr. Mike Murphy Director ofPublic Works Town of Addison P.O. Box 9010 Addison, TX 75001-9010 RE: Amendment to Easement Agreement for Parcel 7 (Charter Furniture), Arapaho Extension of Road Project Dear Mike: Pursuant to your request, enclosed for execution by Midway Centurion, Ltd. are three (3) originals of the Amendment to Easement Agreement for Parcel 7, Arapaho Extension of Road Project. I am infonning the Title Company that we are increasing the amount of property being purchased and requesting a Title Commitment for the additional property in order to ensure clear title to the property prior to it purchase. After execution of the three (3) originals by Midway Centurion, please let me know whether you intend to place the Amendment on the Council agenda prior to execution by the City Manager. Once the document is completely executed, we will need to provide one executed original to Midway Centurion and I will need one executed original to provide to the Title Company for purposes ofclosing and recording. If you have any questions, please give me a call. Sincerely, 􀁾􀀩􀀨􀁲􀀨􀁪􀀡􀁊􀀠􀁾􀀠AngelaK. Washington AKW/yjr Enclosures c (w/o Enclosures): Mr. Steve Chutchian (w/o Enclosures) Mr. Kenneth Dippel 901 MAIN STREET SUITE 4000 DALLAS, TEXAS 􀀷􀀵􀀲􀀰􀀲􀀼􀁈􀁾􀀳􀀠TEL 214.672,2000 FAX 214.672,2020D ALL A S T Y L E R www.eowLEsTHOMPSON.COM Doc\nnenl #; 11046$S EVALUATION ASSOCIATES RIGHT OF WAY LAND RIGHTS ANALYSIS' APPRAISAL' ACQUISITION' SOLUTIONS I I I SUMMARY OF SALIENT FACTS AND CONCLUSIONS n ARAPAHO ROAD PROJECT Property Owner: 15101 Midway Road Partners, LTD. Parcel No. 7 Valuation Conclusion: Whole Property Proposed Acquisition Remainder Before Acquisition Remainder After Acquisition Loss in Value ofRemainder After Determination ofCompensation: Permanent Right ofWay Compensation for Improvements (None) Landscaping (None -Replacement) Loss in Value ofRemainder After I Total Compensation I Date ofAppraisal: I Location: Legal Description: Land Size: Zoning: Highest and Best Use: As ifVacant BEFORE: As ifVacant AFTER: January 23, 2002 $3,300,000 $ 66,446 $3,233,554 $2,850,000 $ 383,554 $ 66,446 $ -0$ -0$ 383,554 $450,000 15101 Midway Road, Town ofAddison, Texas . Lot 4, Surveyor Addition, Town of Addison, Dallas County, Texas Whole Property (per survey) Right ofway Area 1-1, Industrial-l District Commercial use Commercial use 3.465 Acres 0.9387 Acres 11615 Forest Central Drive' Suite 205 • Dallas, Texas 75243-3917 • (214) 553-1414 􀁾􀁾􀀠J j-􀁾􀀠S 00° 􀀵􀀸􀀧􀁾􀀳􀀵􀀢􀀠E S 89°59' 49" E 517.78' He" 􀁐􀀱􀀧􀀧􀁴􀁾􀀧􀀧􀀵􀀠7 ' . ........CHARTER FDRNlTURE OAl< I OAl< 􀁾􀀠􀁾.. . I , , . . .. ON< > CAl< I' I's 4" 􀁾􀀠􀁾􀀠􀁾􀀠􀁾􀀱< I 􀁾􀁾􀀠􀂰􀁖􀁾􀀠r􀁾􀀠'I< -If-I.', t= V 􀁾􀀠I' I' 􀁾􀀠1IIIIIIIIIIIIIIIIIb , --::l---r􀀢􀀧􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀁾/" INGRESS! CENTURION WAY CONCR£TE EGRESS 􀁾􀀭􀀭􀀭􀀭􀀭􀁩􀀺􀁣􀁌􀀽􀀽􀀽􀀽􀀽􀀽􀀧􀁬􀀭􀀭􀀭􀁲􀀭􀀭􀀭􀀭� �􀀬􀁻􀀽􀀭􀀽􀀽􀀭􀀭􀁾􀁜􀀭􀀭, , ARAPA.HO ROA.I) -PH.4.S!>.J!! 􀀩􀁔􀁏􀁉􀁻􀀩􀁏􀁊􀁾􀀠LEGAL PLAT EXHIBIT A-1 􀀧􀁉􀀭􀀭􀀽􀁾􀀺􀀭􀀺􀀭􀀺􀀽􀀭􀀺􀀺􀀭􀀺􀀭􀀺􀀭􀀭􀀺􀀺􀀺􀀭􀀺􀀺􀀭􀀽􀀭􀀻; TOWN OF ADDISON. 􀁾􀀠o Ou", I "'" J J 􀀢􀀧􀁾􀀠S 89' 59' 49" E 517.78' .. N 89'.58' 49"W51.6. ·9.4' .CHARTER 􀁾􀁕􀁒􀁎􀀱􀁔􀀸􀁒􀁅􀀠. Ct CUIiVE' DATA· . R =·904<93" .\.: 􀁾􀀶􀀵􀀮􀀴􀀲􀀠. '/_..--« -.' -7 INGRESS! EGRESS CENTURION WAY 􀀨􀁑􀀮􀁱􀀺􀀺􀀮􀁾􀀱􀁬􀀠\ S 00' 58"35" 0<" 􀁾􀁙􀀢􀀱􀀧􀁾􀀮􀀩􀀻􀁾􀀠7' , liT{· 0·• '" 0• ___•• _w 􀁾􀁮􀁾􀁾􀀠"""_( "-.. 􀁾􀀠􀁾􀀠LEGAL PLAT "'-. EXHIBJT A-1 TOWN OF ADDISON PUBLIC WORKS 􀁾TO::__􀁾􀁾􀁾􀁾􀁾􀀽􀀽􀀭􀁾􀁾􀁾􀁾􀀽From: Company:_______________ FAX#: CY-:38'r-Ob2../Date: /--. 2 f3-f)3 No. of Pages(including cover): :::2 Michael E. Murphy, P.E. Director of Public Works Office: 9721450-2878 Fax: 9721450-2837 16801 Westgrove P.O. Box 9010 Addison, TX 75001·9010 invent HP Laser Jet 3200se HP LASERJET 3200 JAN-28-2003 2:31PM Fax Call Report Job Date Time Type Identification Duration Pages Result 4 1I28/2003 2:26:49PM Send 99723850621 2:48 2 OK G R ASS -"'" , jI 􀁾􀀠---􀀭􀁾􀀽􀁾􀀭--------===== == == === =======--= ====-=== == ==􀀽􀁾-====== =-== === == ======= --=====j I I I " =\______ I =__rr: :l ....... ,, 􀁫􀀭􀁾􀁲􀀭􀀭􀁾􀁉􀁾􀁾􀀢􀀧􀁾􀀧􀀭􀀭􀀭 􀀭􀁾􀁦􀀭􀀧􀁾􀀧􀁾􀁾􀁾__􀀲􀀧􀁾􀀧􀁾.. 􀁾􀁾􀁾􀁾􀁾􀁾__􀁾__􀁾􀁾__􀁾􀁟􀁾􀁾__􀁾______________􀁾__________-, f.. " J '. "; ..' CON eRE T. E 􀁾􀀠-J•• ,. 􀁾􀀠􀁾􀀠I : 􀁾... , , I 􀁾L I M.I TS OF ,' .. '.' . 􀁲􀀭􀀭􀀭􀀭􀀭􀁩􀁾􀁾􀀬􀀱􀀠NGRESSlEGRESS oF--:;;!-"'?"'l L J tENSE.' AGREEMENT' .CHARTER FURN1TURE. R o <•• 􀁾􀀠INGRESS; : _____'=E-"!.GR...",E""'S=S i 11111 1I111 III III liD ---CENTURION WAY CONCRETE CONCRETE __ 􀁟􀁾􀀠n 􀀭􀀮􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀁾􀀠􀁾􀀠_._ __ . ..L .. ..___ __ ---r--.--( n \ _______••• ._ ST 􀁾􀀠) , t 􀁾􀀧􀀭􀀭􀀭􀀭􀀭􀀭􀀭􀀢􀀢􀀭􀀢􀀭􀀷􀀠􀀭􀀭􀀭􀀭􀁾􀀠􀀯􀀭􀁾􀁍􀀠􀁾􀁾􀁾􀁾􀁾􀀬􀁾􀀬􀁾􀁾􀂧􀀬􀁾􀁾􀀠CENTURION WAY 􀁃􀁏􀁎􀁃􀁒􀁅􀁔􀁅􀁉􀀺􀁉􀁾􀁩􀁩􀀽􀁊􀁾􀀮􀀮􀀮􀀮􀀺􀀺􀀮􀀮􀁾􀁾INGRESS/ARAPAHO ",,,,, -DUA"" In , T() 􀀬􀁾􀀬􀁾􀁾􀀠􀁒􀁏􀁾EGRESS INGRESS/EGRESS EASEMENT􀁾􀀠--􀁾-----t=L=--===-===;--+-----L=... =-_\-'----"-EXHIBIT 0, I--________􀀭􀀭􀀺􀀺􀀭􀀺􀀽􀀮􀀬􀀮􀀮􀀬􀀮􀀮􀀮􀀮􀀭􀀽􀁾􀁟􀁉􀀠:: a TOWN OF 􀁾􀁄􀁄􀁉􀁓􀁏􀁎􀀮􀀠TEXAS <> .."" , " I I "'" 􀁾􀁾􀁾􀁾􀁾􀁾􀁾􀁾􀀠OFFICE OF THE CITY MANAGER (972) 450-7001' FAX (972) 450-7043 ® Post Office Box 9010 Addison, Texas 75001-9010 5300 Belt Line Road September 30, 2002 Mr. Bill Crepeau CEO Charter Furniture 15101 Midway Road Partners, LTD. 15101 Midway Road Addison, TX 75001 Re: 0.9387-Acre Right-of-Way Purchase at 15101 Midway Road Dear Mr. Crepeau: Based on concerns you presented at the August 13, 2002 City Council meeting, the Town of Addison is amending its offer regarding the above-referenced property. For the purchase of a roadway and right-of-way easement in, on, over, above, upon, across, along, under and through the property, the Town is offering $166,446.00 as compensation for the easement, any damage to or diminution in value of the remainder or any other lands or property belonging to you, and to avoid the cost and expense of litigation. Enclosed for your review and execution is an Easement Agreement. Also enclosed is a letter from the Town of Addison's Planning Director verifying that the bridge to be constructed on and over the property will not affect your current setback requirement. As the Arapaho Road project is moving along quickly, we request your response to this offer within 10 days. If we do not hear from you within 10 days from the date of this letter, we will. consider the offer rejected and proceed to condemn the property in fee simple. Should you have any questions, please feel free to contact me or Mr. Mike Murphy, Director of Public Works, at (972) 450-2871. Sincerely, Ron Whitehead City Manager Enclosures DOQlrnent#: 1021643 EASEMENT AGREEMENT This Easement Agreement is made and entered into by and between Midway Centurion, Ltd. ("Grantor"), a Texas limited partnership, and the Town of Addison, Texas (the "Town"). WIT N E SSE T H: V.'HEREAS, Grantor is the sole owner of certain real property located in the Town of Addison and described in Exhibit A attached hereto and incorporated herein (the "Easement Property"); and WHEREAS, the Town of Addison intends.to construct an extension of Arapaho Road through the Town (the "Arapaho Road Phase III Extension"), part of which will be located upon and over the Easement Property; and WHEREAS, the Town desires to acquire a perpetual easement in, over, across, above, upon, under and through the Easement Property for street right-of-way and other public purposes in connection with the construction of the Arapaho Road Phase III Extension, and Grantor desires to sell and convey such easement to the Town; NOW, THEREFORE, for and in consideration ofthe mutual covenants and agreements herein contained, Midway Centurion, Ltd. ("Grantor"), a Texas limited partnership, and the Town ofAddison, Texas (the "Town") agree as follows: 1. Grant of Easement. For and in consideration of the sum set forth in 2. below in hand paid by the Town, the receipt and sufficiency of which is hereby acknowledged and confessed, Grantor has GRANTED, SOLD AND CONVEYED, and by these presents does GRANT, SELL AND CONVEY unto the Town of Addison, Texas, its successors and assigns, a perpetual and exclusive easement and right-of-way (the "Easement") in, over, across, above, upon, under and through the Property described in Exhibit A and depicted on Exhibit B (the "Easement Property") (the said Exhibits being attached hereto and incorporated herein). 2. Consideration. This Easement is graoted, sold and conveyed in consideration of the Town's payment to Grantor of the sum of One Hundred Sixty Six Thousand Four Hundred Forty Six and No/lOO Dollars ($166,446.00), the receipt and sufficiency of which is acknowledged as full compensation for the Easement, any damage to or diminution in value of the Remainder or any other lands or property belonging to Grantor that may be claimed or asserted by virtue of such grant, sale and conveyance and use of the Easement and the Easement Property by the Town, and to avoid the cost and expense of litigation. For purposes of this Agreement, the term "Remainder" shall mean that property described in attached Exhibit C, save and except the Easement Property. 3. Purpose ofEasement; Other Provisions. A. The Easement, together with all of its rights and privileges, may be used by the Town, its employees, contractors, agents, successors, and assigns in connection with activities relating to the construction, placement, installation, reconstruction, relocation, alteration, operation, use, inspection, maintenance, improvement, and modification ofa street, roadway, and other rights-of-ways, including without limitation an elevated bridge, and other public purposes Midway Centurion, Ltd. Easement 􀁁􀁧􀁲􀁾􀁥􀁮􀁴􀀠 􀀠 rage· 1 Doeument II: l0Z161J (the "Project") and including, without limitation, all Facilities. As used herein, "Facilities" means (a) streets, roadways, bridges, and other rights-of-way for vehicular and pedestrian traffic and all paving, curbing, and striping thereon, (b) footings, foundations, columns, posts, and other types of support structures, (c) utility systems, including, without limitation, water, gas, sanitary sewer, storm sewer, electric, fiber optic, cable television, andlor conununication system or systems, or parts thereof, including without limitation lines, pipes, conduits, meters, valves, fittings, lateral, poles, wires, guys, crossarms, conductors, transformers, splices, switches, manholes, handboles, junction boxes, and cables, (d) drainage facilities and necessary appurtenances thereto, including without limitation shoring or retaining structures, culverts, box culverts, pipes, mains, manholes, handboles, valves, fittings, laterals, inlets, paving, and curbing, (e) structures and equipment including, without limitation, lighting, conduit, cable, guardrails and other safety features and devices, (f) landscaping, and (g) all other things that the Town from time to time deems necessary, appropriate, or desirable in the Town's sole discretion, with respect to the Project. The Town may perform all excavation, boring, backfilling, embedding, drilling, grading, and other construction activities as the Town from time to time deems necessary, appropriate, or desirable in the Town's sole discretion, with respect to the Project and the Facilities. The Town shall, at all times, have the right of ingress and egress to and from the Easement and the Easement Property as the Town may deem necessary, appropriate, or desirable. B. Grantor acknowledges and agrees as follows: (i) The Town may authorize and pennit third parties to use the Project on such terms as the Town, in its sole discretion, deems appropriate, but no third parties, including the general public, shall acquire any rights in the Easement or the Easement Property as a result of such use. (ii) Grantor shall not construct or place within the Easement Property any building, fence, wall, plant, or other structure, improvement, or growth of any character or type which would interfere, in the Town's sole determination, with the Easement, with the Project or with any of the Facilities. The Town shall have the right to remove, and keep removed, all or parts of any such building, fence, plant, or other structure, improvement or growth of any character or type that is located within the Easement Property and which, in the judgment of the Town, may endanger or in any way interfere with the construction, efficiency, or convenient and safe operation of the Project or the exercise ofthe Town's rights hereunder. C. Grantor, its successors and assigns, may fully use and enjoy the Easement Property, except that such use and enjoyment shall not hinder, conflict or interfere with the exercise ofthe Town's rights hereunder with the safe and efficient operation of the Project. 4. Bridge. The bridge to be constructed as a part of the Project shall be constructed no closer than ten (10) feet from the existing building located on the Remainder. 5. Contractor to be Bonded. The contractor retained by the Town to construct the Project shall be bonded and shall be responsible for any damage to the existing building on the Remainder. 6. Existing Curb Cuts. No existing curb cuts on the Remainder shall be removed by the Town in conjunction with work performed pursuant to this Agreement. Midway Centurion, Ltd. Easement Agreement Page-2 Doromw#: 1011683 7. Midway Road. Construction shall be conducted so as not to deny all access to Midway Road from the Remainder. This paragraph shall not be interpreted to prevent the temporary closure of Midway Road or certain lanes thereon, as deemed necessary by and in the sole discretion ofthe Town. 8. Warrantv of Title. TO HAVE AND TO HOLD the Easements, together with all and singular the rights, privileges, and appurtenances thereto in anywise belonging, unto the Town of Addison, Texas, its successors and assigns; and Grantor does hereby bind itself, its representatives, successors, and assigns to WARRANT AND FOREVER DEFEND all and singular the Easement and rights conveyed in this instrument unto the Town of Addison, Texas, its, representatives, successors, and assigns, against every person whomsoever lawfully claiming or to claim all or any part of the interest in the Property. 9. Exclusiveness of Easement. The Easement, rights, and privileges granted by this conveyance are exclusive, and Grantor covenants not to convey any other easement or conflicting rights in the area covered by this grant. 10. Governing Law; Venue. In the event of any action under this Contract, venue for all causes of action shall be instituted and maintained in Dallas County, Texas. The parties agree that the laws of the State of Texas govern the validity, construction, enforcement and interpretation of this Agreement; and, with respect to any conflict of law provisions, the parties agree that such conflict of law provisions shall not affect the application of the law of Texas (without reference to its conflict of law provisions) to the governing, interpretation, validity and enforcement ofthis Agreement. 11. Entire Agreement. This Agreement contains the entire agreement between the parties relating to its subject matter. Any oral representations or modifications concerning this Agreement shall be of no force and effect. Any subsequent amendment or modification must be in writing and agreed to by both parties. 12. Authority. The undersigned officers andior agents of the parties hereto are the properly authorized officials and have the necessary authority to execute this Agreement on behalf of the parties hereto, and each party hereby certifies to the other that any necessary resolutions or other act extending such authority have been duly passed and are now in full force and effect. Midway Centurion, Ltd. Easement Agreement Page .3 D<>oomClrt #: 102Hi3l 13. Binding Effect. This Agreement shall bind and inure to the benefit of the respective parties, their personal representatives, successors, and assigns. Executed this __day of______-', 2002 GRANTOR: Midway Centurion, Ltd. By: MBKA, L.L.C., its General Partner By: Michael W. Crepeau, President Executed this __day of______-', 2002 TOWN OF ADDISON, TEXAS By: Ron Whitehead, City Manager [ADD ACKNOWLEDGEMENTS] Midway Centurion, Ltd. Easement Agreement Page -4 Dtx:.Umebt #: 10lh'iU I DRAFT(8-16-02) IRe: charter Furniture ROW Acquisition Dear Mr. Crepeau, As a result of your presentation to the Town of Addison City Council on Tuesday August 13, 2002, I have been authorized to amend our offer that is represented in the attached letter dated June 26, 2002. As you very dearly stated in your presentation, you feel that the loss of 28% of the overall square footage of your property would negatively impact your current loan agreement with your lender and you financially. Therefore, we are prepared to amend our offer from a fee simple taking to a roadway easement request. By doing this you would retain ownership of the described property and with minor modifications to the existing drainage easement we would be allowed to construct an elevated roadway over the drainage channel. This would allow you to retain ownership of the current square footage of your property for existing and future use. Also, this agreement will provide you the ability to construct a permanent parking facility underneath the bridge if and when the need arises by gOing through the proper ordinance and permitting procedures of the Town of Addison. I am also authorized to offer you the following: 1. $166,446, which includes $66,446 for the appraised value of the property and $100,000 for a settlement agreement. 2. Assurance in writing that the construction of the bridge will not affect your current setback requirement. 3. Contractor will be required to be bonded and shall be responsible for any damage to your existing building as a result of the proposed drainage and bridge improvements. 4. All existing curb cuts on your property shall be retained. 5. Midway Road shall not be dosed in its entirety during construction of Arapaho Road. However, certain lanes may be temporarily closed, as deemed necessary by the town. __ The proposed bridge sha!tbe constructed at distance no closer 􀁾􀁨􀀿􀁮􀀠te'n 'tcn feet from '1cttr·existinc structure-, ------;,J the necessary property. Shoutd vouhave any 􀁱􀁵􀁥􀁳􀁴􀁩􀁇􀁾􀁾􀁯􀀠- -------.---.. 􀁾􀀢􀀢􀁾􀀺􀀠o__ o 􀀺􀀺􀀮􀁯􀁟􀁾􀀽􀀠---_.. 􀁾􀀠􀁾􀀠Sincerely, August nn2002 Mr. John J. Wl,\son INTERVEST 􀁃􀁯􀁭􀁰􀁾􀁥􀁳􀀠4131 CilliI:nrion Way Addison, Texas. 7500l Re:.O.4737-Acre:Right of Way Purchase at 4B1 Centurimr:Way Dear Mr. Wilson: Duringthe. Town. ofAddison CityCouncil meeting August 13,. 2002:your "c.ounter-ofrer",as d:es:cribedin a letterdated luly30, 2002,waspmmmred for discussion and . Thenrlhre, I have beenant1mrized:tn offuryalI. the fullowing: L Payment for the appraised value oftheproperty at $5&-;92t.OO 1. C;t.::rnprnsat!(\ll a 3ettlernent agree!nent at $53,J)i9. . ! -􀁾􀀠." • 􀁾􀀬􀀠'..fT-(,\T'!'1 􀁶􀁾􀀢􀀢􀀮􀀠,\;vl-rh;-n tnf" 􀁦􀀻􀁦􀁩􀀧􀁾􀁦􀀢􀁮􀀠l·l 􀀧􀁦􀀧􀀡􀁾􀁾􀁖􀁾􀀠H1f" ! 􀁻􀀬􀁾􀁉􀀻􀀮􀀬􀀢􀀡􀀢􀀠','l:'1'!,' 􀁥􀁾􀀧􀁮􀁾􀁾􀁾􀀧􀁦􀁬􀀿􀁲􀀠'*1't.:' . . Should you have any questions:, please feel free tocontact.M:r. 'Mike Sinc.erely, AlIgust nn2002 Mr. Rick 􀁾􀁳􀁥􀁮􀀠TharaldsnnDevelop:qrent 12flLPageQriye Fargn. NortII.Dakota 58t03 Re:: Lots. 4&5T Addisnn.RestanrantPark Heritage InnNumher XIIIlTharaldsonDeveloPlIlent Dear Mr. Laq>on: During..the.Town of Addison CityConnciLmeeting. August 13,2002your "aoumer-offer",.as desc.ribedilI.a.1etterdated lnly 22,2002, was. presented for discussion and 􀁡􀁣􀁾􀁩􀁯􀁮􀀮􀀠􀁔􀁨 􀁥􀁲􀁥􀁦􀁯􀁲􀁥􀁾1 bavebeen authorized to 􀁾􀁹􀁭􀁉􀀧􀁲􀁥the £OHow.ing: L The appraised.valneofthe.property at$138,.75.4.ilO. 2.. Compensation £OIthe. Te.mporaryConstrnction Easetll€:llt at 􀁾􀀱􀀬􀀹􀀺􀀴􀀶􀀻􀁻􀀩􀀰􀀮􀀠3. Compe.nsationfor settlement agreement at $37􀀬􀀸􀀮􀀴􀁾􀀰􀀮􀀠4_ One Curb cut, inclnding.aonstrnction 􀁯􀁦􀁾􀁥􀁬􀁥􀁲􀁡􀁴􀁩􀁯􀁮􀀮􀀮􀁁􀁣􀁣􀁥􀁬􀁥􀁲􀁡􀁴􀁩􀁯􀁮􀀠and Left tum lanes:. from Arapaho Road (location ofbridge, size of property will onlyallnw fur one rum cut). 5_ We. do not feel.that asigrrva:rianae is: needed because your property, 􀁾􀁾􀀮􀁾􀀮􀀠􀁲􀁯􀁾􀀺 􀀡􀀩􀁬􀁴􀀠of 􀀮􀀡􀁁􀁾􀀧􀁡􀁰􀁮􀁨􀁯􀂷􀁒􀁣􀁾􀁤􀀠Streetfrcnt3ge; \viII be entitled to erect a f 􀁦􀁨􀁾􀀠,",T"r.",f"':<""Q...i 1..Jl..-UIU.l-l.le 􀂷􀁾􀀮􀀾􀀧􀁾􀁊􀁴􀀢􀀢􀀴􀁕􀀠J.":. o..,j.. r .... 􀁦􀀮􀀮􀁵􀀮􀁬􀀭􀁊􀀮􀁾􀀠4\.." H.hH..Ul..I. U.l.i..'<...l.. ..Ii. ""-,.ill'H.-l t..l.""'''' U."" 􀁰􀁾.. ;;._.";.),,;,,•.;. Slgu· TheTown of Addisorrrequests: that you respondto this. offerofpurchase w:itb:irrfifh:en(15) days.ufthedate ofn::c:eiptoft:bis letter: lfwe danaiIear from you:.witbinthe fifteen(15): days, the Town.will considerits. offer reje.cted and we will initiate eminent domain. pmce.edings to 􀁡􀁣􀁾the necessary proprrty. Should youJrave any ques.tions:,.please feel free tnc-ontact 1vlLMike Murph.y,. Director of:Public Works, at(972) 450-2&71 ,or myself. 􀁾􀁥􀁉􀀺􀁥􀁬􀁹􀀬􀀠RmrWhitehead 􀁃􀁩􀁴􀁹􀁾􀁥􀁲􀀠 Town ofAddison Page 1 of1 Choose Section I-All-11 !>Calendar I'-Forms & Applications "Frequent Questions "Links ..News & Articles I> Pilone Directory "Reports & Documents ABOUT CITY RESIDENT BUSINESS ECONO ADDISON GOVERNMENT SERVICES SERVICES DEVELOP NEWS & ARTICLES Arapaho Road Phase II Construction Underway of Pilase II ( which wilewill replace what.tooo Road, is well unde!'wa) extens;ion of tile roadway i Surveyor Blvd to Mars and is sCl1eduled f( completion by mid October 2002 tIlelleavy construclio tight working condition Road nas been redUced t WAY" traffic easlbOunc tile most convenier 􀁥􀀽􀀺􀁒􀀺􀀮􀀻􀁉􀁾􀁏􀁣􀁡􀁴􀁥􀁤􀀠at tile .Mars Road IntelSectior set up win remain in· plac until tile NortIlllaif of tile project is complete (estimated by end of July. 2002). Construction 􀁾􀀺􀁾􀁾􀁥􀀠Road,c< Lane Due to l The conttacmr tor tIlis projec! in T exas-stedlng COnstruGtion. If you have any question regarding tIliS roadway construction project please contact tile Town of Addison Publi Works Department et 972-972-450-2871 and ask for steve Chutchian or luke Jalbert. 6 © 2001-2002 Town of Addison, Texas I All Rights Reserved I Contact Us IprL11al1Y!l< ..S!il!1..u!itv Information I Site M http;lIwww.ci.addison.1X.uslmodules/news_articleslviewArticle.asp?cDeptlJ1D={ 4054C03... 8/26/2002 June 14, 2002 Mr. Bill Crepeau CEO Charter Furniture 15101 Midway Road Partners, LTD. 15101 Midway Road Addison, Texas 75001 RE: Lot 4, Surveyor Addition Dear Mr. Crepeau: In February 2000, the Town ofAddison elected to seD bonds in order to fund six construction projects. Included in these projects is the extension ofArapaho Road, from Addison Road to Marsh Lane. At this time, we are in the right-of-way acquisition phase ofthe project, from Addison Rd. to Surveyor Blvd. The Town ofAddison has detennined the need to acquire a portion ofthe tract ofland that is currently occupied by Charter Furniture. This land acquisition is necessary fur the purpose ofobtaining public right-of-way for the Arapaho Road project along with related municipal uses including public parks and open spaces. The firm ofEvaluation Associates originally appraised the property on February 13, 2002, with a subsequent revision performed in June 2002. The attached summary sheet shows the fair market value ofthis taking is $66,446.00. In May 2002, the City Council ofthe Town ofAddison authorized me to rnske an offer to purchase the 0.9387 acre tract ofland at the appraised value plus $100,000.00. The total value ofour ofier is $166,446.00. The Town ofAddison requests that you respond to this ofier ofpurchase within thirty (30) days ofthe date ofthis letter. Ifwe do not hear from you within the thirty (30) days, the Town will consider its offer rejected and we will initiate eminent domain proceedings to acquire the property. Should you have any questions, please fuel free to contact Mr. Mike Murphy, Director of Public Works, at (972) 450-2871, or myself. Sincerely, Ron Whitehead City Manager 1 EV-ALUATION A880CIA 38J RIGHT OF WAY LAND RIOHTS ANALYSIS' APPRAISAL' ACQUlSJ110N' SOLUTIONS SUMMARY OF SALIENT FACfS AND CONCLUSIONS ARAPAHO ROAD PROJECT j Pai"cel No.7 -15101 Midway Road Plirtnen, LTJ}. J Valuation Conclusion: Whole Property Proposed Acquisition ] Remainder Before Acquisition Remwnder After Acquisition Loss in Value ofRemainder After ] Determination of Compensation: PermanentFUghtofVVay] Compensation for Improvements (None) Landscaping (None -Replacement) Loss in Value ofRemainder After ] Total Compensation ] Date ofAppraisal: ] ] Location: ] Legal Description: Land Size: Zoning: /Highest and Best Use: As if Vacant BEFORE: As if Vacant AFTER: $3,300,000 $ 66,446 $3,233,554 $3,233,554 $ -0$ 66,446 $ -0$ -0$ -OS 66,446 February 13, 2002 (* l) (Note *1 -Revised to aclcnowledge and clarify the absense of a rear yard setback requirement, both before and qfter the proposed acquisition) 15101 Midway Road, Town ofAddison, Texas Lot 4, Surveyor Addition, Town of Addison, Dallas County, Texas VVhole Property (per survey) FUgbt ofway Area I-I, Industrial-l District Commercial use Commercial use 3.465 Acres 0.9387 Acres 1161SForestCentralDrive' Suite205 • Dallas, Texas7S243·3917 • (214)SS3-1414 Jun 7 '02 11:28 P.Ol eVALUATION ASSOCIATES RlGHr OF WAY LAND RIGHI'S ACQIJISmON APPRAISAL SOLUTIONS June 8,2002 Mr. Steve Chutchian, P.E. Assistant City Engineer Town of Addison 16801 Westgrove Addison, Texas 75001-9010 Re: Arapaho Road Phase III -Parcel No.6-430 I Belt Line Road -Response to Mr. Randy Lee's letter dated May 29, 2002 Dear Mr. Chutchian: In response to Mr. Lee's letter ofthe above reference project, we offer the following reply. We hope that this response together with the revised appraisal report will assist the City in completing the acquisition of the land righu needed for this project. Point: Mr. Lee states the land value for the 8ubject whole property is less than the assessed value. Response: Yes, (lur analysis indicates the value of the subject land is SIO.OO/SF. The current proposed 2002 assessed value is S2,899,880 or SI3.36/SF. Specifically addressing the tax valuation, the allocation ofvalue to the land portion ofthe overall property value by DeAD is not the most important component oftheir value. The overall combined value of the property, including land and buildings is most likely the value that they would be more focused in defending. The land portion of the overall property value may have been simply allocated. We can not comment funher as we do not have the Dallas County Appraisal District supporting documentation. We researched the market and utilized the most competitive, most indicative sales data available. We would be happy to investigate any land sales data Mr. Lee offers. provided there is sufficient detail (location, sale date, grantor, grantee, size and verifying party) to confirm a bona fide transaction has occurred. lfsales data is offered and verified, we will re-analyze the data set to determine ifthe value estimate is supportable. We do not wish to waste the City's time and money on awild goose chase. Declarations that values are low is not sufficient to warrant re-analysis. Point: Loss ofrecreational amenities will result in the loss ofroom revenue. Response: The The appraisal report details the compensation for the tennis courts and walking path. The property owner can elect to replace this recreational amenities on the subject 11615 Forest Central Drive' Suhe 205' Dallas, Tc: Point: The building construction is brick veneer over concrete block, a superior and} more expensive type of construction. Land Valuation The value 01'3.5 acres ofretail land fronting Midway in Addison is not $6.50 per foot. The comparisons used were properties on secondary streets and not retail property. 􀁾􀁉􀁌􀁴􀀾􀁉􀁎􀁾􀀠� �􀁴􀀾􀀠􀁾L0h;4 􀁾􀀠􀁾􀁾􀀮􀀠􀁔􀁾􀀠􀀧􀁦􀀿􀀺􀁴􀀽􀀭􀁍􀁢􀀨􀀩􀁾􀀺􀀺􀀡􀀠􀀴􀁓􀁾􀁬􀀺􀀮􀀮􀂣􀀠􀁦􀁐􀀭􀀱􀁾􀀠\.AIu.. SALES RENTAL SALES 15101 Midway Road 14430 Midway Road 8100 Bedford-Euless Road Addison. Texas 75001 Dallas. Texas 75244 North R1r.hland Hills. Texas 76180 (972) 385-3411 (972) 385-3204 (817) 577-2300 metro (972) 385-0621 Fax (972) 385-7650 Fax Fax (817) 577-5333 metro Value Offer Acquisition Page 72 of the Appraisal specifically states using the "sales comparison and the income approach to establish value." Sales Comparison Value before Acquisition >i' Value after Acquisition ,. $3.400,000.00 Purchase 􀁐􀁲􀁩􀁣􀁥􀁾... Per Appraisal $3,500,000.00 After Re-ModelY $2,850,000,00 Difference $650,000.00 ....... Income Approach 24,000 Ft. x $ 8.00 per Ft. $ 192,000.00 28,800 Ft. X $12.00 per Ft. =$ 345,000.00 Times 10 Cap $5,370,000.00 Page 64 ofthe Appraisal states 6,851 square feet of the building will be non-conforming. This equates to a 13% loss of income. 6,851/52,800 = 13% times $5,370,000,00 = $698,100.00. Facts: Retail space at Midway and LBI leases for $30.00 per foot. TIle only other 30,000 square foot retail space on Midway is Englishmen's Antiques at $12.00 per square foot. Mapsco made a $200,000.00 improvement to their space to obtain a $7.00 triple net lease. Appraisal Offer Verses Land Value The current offer from the City ofAddison is $450,000.00 based on a land val.ue of$6.50 per foot. If the land value is $10.00 per foot and the same percentage adjustment is used, then the value is $691,041.00. Ifthe land value is $12.00 per foot and the same percentage adjustment is used, then the value is $829,249.00 ,JfloM-t;; J..p 􀁦􀁦􀁫􀁬􀁾􀀠'1b 􀀭􀁲􀁾􀀠􀁾􀀬􀁌􀁰􀀯􀁽􀀮􀁻􀀦􀀭t't tocz. 􀀿􀁍􀁾􀁜􀁾􀀠􀁾􀁴􀁾􀀠􀁾􀁔􀁾􀀭􀁲􀁶􀁾􀀬􀀠􀁩􀁽􀁴􀁾􀀠of A MAW 'T1I-O'(lO 􀁴􀁬􀁾􀁾. M -.p'i(..o 􀁾􀀠fJl)"f' 􀀱􀁴􀀧􀁕􀁏􀁾􀀠r::F T4ft;.t 􀁾􀀠􀁾􀀮􀀮􀀮􀁬􀀠􀁾􀁆􀁦􀁬􀁾􀀠(2eJ OVA(toM'1 ¢ wooL\> NeT 􀁾􀁁􀁉􀁾􀀠􀁦􀀽􀀭􀁄􀁾􀀠c; 􀀮􀁓􀀢􀁾􀀨􀁜􀀾􀀮􀀠F.: Summary As I stated in the outset, it is difficult to calculate the loss; only time will tell, We think a fair price today is $700,000,00 with the following concessions from the City ofAddison, 1, City to build and maintain lighted parking under the bridge. The building owner to be granted permanent and fOlmal rights to the parking, (Itdt U\..Jo IKIIr I' 􀀤􀁾􀀩􀀠2. Exemption from set back requirements, ability to rebuild to present size, 3. City responsible for damage to the building caused by soil and/or drainage changes ...due to construction. 4. Retain present curb cuts."-􀁾p.'t.I. 􀁾--((> 'Z.,N 􀁇􀁾t;; 5, Sign variance for better visibility. Protect visibility for southbound traffic, ....... 􀁾􀀱􀀻􀀾􀀠r"III:JfIJ&7 I "'to. 5 6, City will not close Midway Road during business hOllrs including weekends during construction, (;\I..... 7. City endeavor to keep road and bridge as far from building lines as possible, the absolute minimum is 10 feet. The above represents our efforts for a fair response based on current conditions. Please feel free to contact me at (972) 385-32411 with allY questions or concerns you may have, Sincerely. Bill Crepeau CEO Charter Furniture • WMC:dc Cc: file EVALUATION ASSOCIATES RIOHTOF WAY LAND RIOHTS ANALYSIS' APPRAISAL' ACQUISITION' SOumONS SUMMARY OF SALIENT FACTS AND CONCLUSIONS ARAPAHO ROAD PROJECT Property Owner: 15101 Midway Road Partners, LTD. Parcel No. 7 Valuation Conclusion: Whole Property $3,300,000 Proposed Acquisition $ 66,446 Remainder Before Acquisition $3,233,554 Remainder After Acquisition $2,850,000 Loss in Value ofRemainder After $ 383,554 ," .. Determination ofCompensation: Permanent Right ofWay $ 􀀶􀀶􀀬􀀴􀀴􀀶􀁾􀀠Compensation for Improvements (None) $ -0It Landscaping (None -Replacement) Loss in Value ofRemainder After 􀁾􀁾􀁾􀁾􀀢􀀢􀀬􀀭􀀬 J Total Compensation $450,000 I i Date ofAppraisal: January 23, 2002 Location: 15101 Midway Road, Town ofAddison, Texas Legal Description: Lot 4, Surveyor Addition, Town ofAddison, Dallas County, Texas Land Size: Whole Property (per survey) 3.465 Acres Right ofway Area 0.9387 Acres Zoning: 1-1, Industrial-l District Highest and Best Use: As ifVacant BEFORE: Commercial use . As ifVacant AFTER: Commercial use 11615 Forest Central Drive' Suite 205 • Dallas, Texas 75243-3917 • (214) 553-1414