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Caldwell council denies resolution to authorize city-paid appraisals for three properties
Summary
Council voted unanimously to deny a resolution that would have authorized the city to contract Langston & Associates for appraisals of three properties (2218 Griffith Parkway; 501 Main Street; 111 S 20 Second Avenue) at a cost of about $16,500.
The Caldwell City Council voted unanimously Tuesday to deny a resolution that would have authorized the city to engage Langston & Associates for appraisals of three properties potentially involved in a proposed land exchange with Canyon County.
City staff described the work as three separate appraisals — each priced at about $5,500 — for 2218 Griffith Parkway (a roughly 20-acre parcel), 501 Main Street (a roughly 6,000-square-foot downtown building) and 111 South 20 Second Avenue (about 43,000 square feet, part of the Caldwell Event Center). Staff said Canyon County was planning its own separate appraisals and that the city’s appraisals would allow comparison and assist negotiations.
City staff noted brokers had provided informal opinions of value (about $5.9 million for the 20-acre parcel and roughly $5.6 million combined for the two buildings), but emphasized formal appraisals would be more precise. Finance staff told the council there was no budgeted line for the work; paying for the appraisals would require use of general fund balance because contingency had already been used for other items this year.
Several councilors questioned whether the city should pay to appraise properties the county owns and whether the timing was appropriate given budget constraints. One councilor said it would be reasonable for the county to commission appraisals and return values for comparison rather than asking the city to pay for appraisals of county-owned properties. Another suggested the city could commission an appraisal only of the city-owned 20-acre parcel and defer any additional appraisals until the county produced its reports.
Councilor Williams moved to deny the resolution; Councilor Stoddick seconded. The motion to deny passed unanimously. Council members left open the option to revisit appraisals later or to commission a single appraisal for the city-owned parcel if council wished.
Staff said the denial ended the current request but that council could later direct staff to pursue one or more appraisals or add funding during a later budget or fund-balance action. Staff also noted deed restrictions on the Griffith Parkway parcel complicated market valuation and that a formal appraisal could clarify value given those encumbrances.
