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estimated the off-site improvement costs to be $10,000 per lot.
In its development of the Exchange Property, Meadowlark Homes did
not encounter any unusual or exorbitant off-site improvement
costs, sewer permit costs, water connection costs or other costs
related to the construction of the 48 houses.
Petitioner points out several weaknesses to Mr. Lohr's
report. One weakness is that Mr. Lohr's report included only an
estimate for off-site improvements.10 Because Mr. Lohr's report
was not a full feasibility study, the report excluded
consideration of such items as land costs, financing costs, and
overhead costs. However, prior to filing its post-trial briefs,
petitioner did not draw attention to those items and argued only
that the off-site costs made development of the Exchange Property
infeasible. Even if petitioner may now extend its position, it
offered no evidence of the breakdown of the total costs (other
than the off-site costs) to show that total costs presented an
impediment to developing the Exchange Property. As noted,
petitioner never obtained a feasibility study in regard to the
property.
Petitioner also points out that Mr. Lohr's estimate of the
off-site costs for each of the 48 lots was roughly double his
estimate of the off-site costs associated with each of the 14
10 Off-site improvements include such things as grading,
utilities, electricity, sewer, water, and cable.
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