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Staff reports major disparities in appraisals for Timber's Edge parcel; review ongoing
Summary
Parks staff said multiple appraisals for a property related to Timber's Edge returned very different values; staff are working with appraisers to reconcile discrepancies before making an offer.
Parks staff reported Aug. 1 that appraisals for a parcel tied to the Timber's Edge project came back with large disparities, preventing the department from presenting a reliable market value. Staff said the appraisals should have been closely aligned but were not, and they are working with the appraisers to determine necessary adjustments. Once appraisals are reconciled and values align, staff said it will present an offer to Timber's Edge. The board did not vote on acquisition or price and asked staff to continue the appraisal review. No timing for a final offer was given.
