Laserfiche WebLink
The total cost of reclaiming the remaining unreclaimed property has been <br />estimated by the property owner and gravel pit operator to be approximately <br />$2,081,021. The estimate is calculated below: <br />Cost of labor and plantings to rework existing wetlands <br />51.82 acres @ $830 per acre $43,011 <br />Cost to move dirt to conshuct wetlands <br />Dirt moving per acre <br />9,680 cy @ $3.00 per cy $29,040 <br />Cost of seed, plantings, and labor for wetlands <br />from bare ground per acre 1 460 <br />Total development costs per acre wetland $30,500 <br />Remaining wetlands acreage to be constructed <br />66.82 acres x $30,500 per acre 2 038 010 <br />Estimated retraining costs to finish required wetlands $2 081 021 <br />> > <br />LaFazge North America officials at one point approached the property <br />owners and offered to take over the mining operations and assume the reclamation <br />obligations. They had a pit on the east side of the Cache la Poudre River and <br />wanted to combine the operations. They offered to pay a royalty of $0.56 per ton <br />as it was being extracted. <br />LaFarge North America officials aze mining a pit further down stream on <br />the east side of Windsor and are paying that land owner a royalty based on $0.75 <br />per ton, but the reclamation does not involve wetlands. <br />Summary -Since wetlands reclamation is a very costly endeavor, an <br />estimate of $0.56 per ton is being adopted for the market royalty rate. <br />Office Rental Income Estimate <br />In order to estimate the gross income potential of the subject, competitive <br />office rent levels in the Fort Collins, Loveland, Windsor, and Greeley areas were <br />studied. In analyzing comparable office properties, elements of comparison <br />studied include but aze not limited to services provided by the landlord, date of <br />lease, location, size of leased space, quality of construction, and the condition of <br />the space. The following tabulation provides lease data summarized on an annual <br />rent per square foot basis for the comparable properties. Detailed rental write-ups <br />with photographs follow the tabulation. A map indicating the location of the <br />subject property and the compazable rentals can be seen facing the table. The <br />FOSTER VALUATION COMPANY LLC <br />