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151 site ref lects an abatement because that -is privileged
<br /> in form .tior) -,,
<br /> Mr- ,, Greelish asked how , in pr actica] 'terms , does this ef-!"ect what
<br /> we offer for the property?
<br /> Mr . Dennis stated the assessor and he disagree . The assessor is
<br /> not wrong , he -is just late , the value wIll come down , When the
<br /> is,sue goes, to court, it becomes an emotional argument.
<br /> Mr . GrIffin explained he spoke w-Ith Town Counsel regard-ing, the
<br /> difference between appral ;ped and assessed val [AOS . Town Counsel
<br /> agrees the appraised value -is correct , unless you have a friendly
<br /> takIny wh-1ch is Urili' l,(,ely for the large parcels , the fIrst thing
<br /> he will be in court with is the 'issue of the as'serased value,, it
<br /> is difficu"It -to convince a jury the appralsal is correct when
<br /> there iS SUCh a hiqh assessed value ,,- After, lengthy discuss-ion ,
<br /> he-, would recommend carrying 76% of the ass-essed value (for, 11)
<br /> negoti at Ions ) . You must be carefu'l not to let that information
<br /> become public .
<br /> Mr. George Benway told the C,'Lommlttee he agrees with Mr . Denn-is .
<br /> He did a subdivIsiori analysis . For the Center site , Vie took out
<br /> the cornmer-cla"I property ;,,ind the residential piece c,(.)nn(-,,:%(,-ted 'to
<br /> it. At this site , there is a huge discrepancy in figures -to
<br /> bs
<br /> rid plus mul owner
<br /> The 151 site , he did the same , determin-ing how many you c a n
<br /> get from the pi-operty , cost to develop , etc . Ide did not- -factor,
<br /> 'in cost of money or, real estate. taxes :. From a developers po-int
<br /> of view , t -Is site is 'less mor)ey and easier to develop . It al so
<br /> has good viab-111ty for a developer .
<br /> Mr. Denn-is said hel WOUld rather defend the '16) s-fte , as arl
<br /> appraiser .
<br /> Mr- ,, Dinizio stated the CommIttee cannot develop La figure w1thin
<br /> $50 , 000 with a strong basis , it -is more cone eptualt
<br /> Mr . Benway added you cannot avoid a legal case with any a MO U tl t
<br /> "T'his Committee needs a budget 'to carry 'to the voters .
<br /> Mr . Jones thinks , budgeting any-th-ing less than -the assessed va] (Ae
<br /> is risky .
<br /> Mr. Griffin -stated the court wil ] be 'looking atasse,,�.-.sed values
<br /> of the last fewyears , not just the new assessments .but to come
<br /> out. We should budget enough so -the town can deal effectively ,
<br /> vi"itlel negotiating .
<br /> Mr . Greelish suggested presenting to town meeting the, adjMst(-��d
<br /> appraised values for t.he land but carry an agreed upon budgelit
<br /> figure, in the overall budget. That way no one really knows what
<br /> -e carry-ing for the land . The appraised valUO, ill be the-1
<br /> we aria w�
<br /> only ones pub 11 shed .,
<br /> 2
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