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Appraisal shows mixed values for Jackson House; restoration estimate cited at $255,000
Summary
Staff presented the Jackson House appraisal and a separate historic-house report that estimated roughly $255,000 in renovation needs plus a $42,000 contingency; the appraisal executive summary listed $660,000 (with full deed restriction) and other split-parcel values.
During the May 13 presentation S4 told the council the historic-house report (completed 02/24) lists an appraiser-estimated restoration total of about $255,000 and a general contingency of $42,000. S4 also noted that staff reviewers found some line items in the consultant's estimate appeared too low or too high.
S4 summarized the appraisal executive-summary values: "With the full deed restriction, no parcel split, 660,000," and discussed a parcel-split scenario with a smaller retail-designated parcel cited around $115,000; S4 said the full appraisal is about 122 pages and recommended council review. The appraisal fee charged to the city was reported as $7,500.
