7. 20-1101 Public Hearing: Action on a Resolution of Necessity to Acquire Certain Real Property Interests on 800 Mathew Street, Santa Clara, California, from Patel Jitendra G. and Shashi J. Trustee
(2/2) identifies that the easement is an overhead power line (versus subsurface) 3) accounts for the replacement value of a tree that will be removed based on the easement and 4) accounts for the diminished value of the property based on the aesthetic impact and stigma associated with a transmission line at the front.
Based on these considerations we had proposed that a fair offer is $154,392. SVP has not countered any aspects of our counter offer.
(1/2) I am in opposition of the Resolution of Necessity based on the lack of presentation of an offer for fair market value of the property.
The offer presented ($21,900) was based on a $65 per square foot price uniformly applied to properties in the area by SVP and didn't take into consideration the specific property or current market situation. A proper offer should be constructed which 1) uses more recent comparable sales (versus those from 2016-2018)
(2/2) identifies that the easement is an overhead power line (versus subsurface) 3) accounts for the replacement value of a tree that will be removed based on the easement and 4) accounts for the diminished value of the property based on the aesthetic impact and stigma associated with a transmission line at the front.
Based on these considerations we had proposed that a fair offer is $154,392. SVP has not countered any aspects of our counter offer.
(1/2) I am in opposition of the Resolution of Necessity based on the lack of presentation of an offer for fair market value of the property.
The offer presented ($21,900) was based on a $65 per square foot price uniformly applied to properties in the area by SVP and didn't take into consideration the specific property or current market situation. A proper offer should be constructed which 1) uses more recent comparable sales (versus those from 2016-2018)