Below is a summary prepared by Colliers Ostendorf-Morris, mailed by the City of Avon to property owners impacted by special assessments to help fund the I-90 interchange at Nagel Road. A meeting will be held at 7 p.m. June 3 in the Council Chambers of City Hall to discuss the assessments.
Location Evaluation Criteria: Lear/Nagel and I-90 Interchange
In calculating the benefit to be derived by certain properties as a result of the construction of the interchange, a number of factors or considerations were evaluated for each parcel in the area.
The general approach considers that the properties closest to the interchange will derive the greatest benefit in future value from the construction of the proposed interchange and that the properties that are closer to the new interchange than the existing interchange at SR 83 will also derive benefits. Proximity to the interchange is considered to be a sliding scale with those parcels that will be in a “first off” position having the greatest benefit from the interchange construction but those on the primary roadways to the interchange having considerable benefit as well.
A secondary consideration in terms of the scale of values is visibility from the interstate highway. One of the most valuable locations along an interstate highway is proximity to the roadway and visibility to the passing traffic. Visibility is considered to be the second most valuable position.
The third consideration in terms of value is access from an existing roadway. When the interchange is open, those properties which front on an existing roadway will be in a position to develop if vacant and will be benefited from a position on an existing roadway because of the decreased travel time to the interchange. Lack of access to an existing roadway is considered to be a penalty of the same value component as access.
Fourth in the list of considerations is existing commercial zoning. The interchange will create commercial activities and existing zoning for commercial development is considered to be a plus. Similarly, existing industrial zoning is considered to be a plus, but less valuable than commercial zoning. In general, commercial properties sell for higher prices than industrial properties. The potential for conversion to commercial zoning from current residential zoning is also a consideration.
The weight given to each of these factors is relative to the value gained by the creation of the interchange. The full range in individual factors is from a low of 2 to a high of 25. The combination factors applicable to individual parcels indicates a range in from 0 for parcels away from the interchange to 35 for those properties which will be in the “first off” positions.
In considering the benefit to parcels surrounding the proposed interchange, parcels of land were identified in groupings that have similar characteristics. The groupings and the weight placed on each grouping are identified by letter designations and by color coding on a map that identifies the study area and the weight applied to each grouping of properties within the study area.