Estate of Michel Dunia, Deceased, Renee Hawley and Michel Dunia, Jr., Executors and Trustees - Page 18

                                       - 18 -                                         
          additional streets serving the Jess Ranch property add more                 
          value.  However, the estate has demonstrated that the shape and             
          lack of street access on two sides of the Victorville property              
          decreases accessibility to some parts of the acreage, and will              
          limit development on those parts.  Therefore, we adjust Mr.                 
          Thompson’s negative 10-percent adjustment for access to negative            
          5 percent.                                                                  
               F.  Frontage                                                           
               Both experts agreed in their reports that the Jess Ranch               
          property and the Victorville property had similar frontage.  Mr.            
          Thompson did not make an adjustment for frontage.  Mr. Perdue, as           
          we explained above, made a positive 20-percent adjustment for               
          topography, access, and frontage combined but stated in his                 
          report that the Jess Ranch property and the Victorville property            
          had similar frontage.  We make no adjustment for frontage.                  
               G.  Offsite Improvements                                               
               Both experts agreed that the Victorville property needed               
          extensive offsite improvements in order to be developed.  These             
          included the widening of exterior and interior streets, the                 
          relocation of overhead electrical lines to underground, and the             
          installation of water lines, sewer lines, telephone lines, and              
          traffic signals.  The Jess Ranch property, according to Mr.                 
          Thompson, had underground water, sewer, and electrical on its               
          entire frontage, which was approximately the same size as the               






Page:  Previous  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  Next

Last modified: May 25, 2011