New Information for January 2018 Review I
5 2017
D R{, L S I G IST { R E . 1'.VOWN OF CSU rCfpty
ATTORNEYS AT LAW PLANNING OFFICE
s MICHAEL S_ f30RGOS. E&Q- $2 Glenvnaod Avenue,P.O. Box CM
0 MARKS. DEL S6GNORE. E80. Qu9ensbury, NewYortt 12804
December 15, 2017 + , 1:mtwgos@bordeuaw.com
aec
flm
Chairman Steve Jackoski
Queensbury Zoning Board of Appeals
742 Bay Road
Queensbury, IVY 12804
RE: Errol Silverberg
Z-UV-3-2017
230 Lockhart Mountain Load
Tax Map# 252.-1-38.1
Dear Chairman Jackoski:
On behalf of the applicant,Errol Silverberg,enclosed please find the original plus 15 copies of our
supplemental submission package from Orr Appraisal Service related to the above-referenced Use
Variance application. As you will recall,this item was tabled from the September 20, 2017 agenda
to enable the applicant the opportunity to furnish more detailed "dollars and cents" evidence
regarding the lack of a reasonable expectation of return on initial investment for the subject
property.
Certified Residential Appraiser, Tklomas Orr, SRA, addresses each of the allowed uses in the
RR5A zone within his submission and we will be present to discuss in further detail at the January
17, 2018 meeting when this matter returns to your agenda for further consideration.
I wish to provide you with one final element of proof via this cover letter. Sourced firm the
Southern Adirondack Regional Multiple Listing Service database, the fallowing luting data
evidences that the subject property was listed five (5) separate times prior to Mr. ilverberg's
purchase, demonstrating how difficult it was to sell under the prior ownership:
List Date 0313112005 Amount$320,000 Expired 09/2912005
List Date 1011112005 Amount $369,900 Canceled 0511112006
List Date 04/1712407 Ainount $269.900 Canceled 0511 n007
List Date 0511812007 Amount $269,900 Canceled 04/0712008
List Date 04114/2008 Amount $200,000 Linder Contract 0512512408
Sold 07/2112008 for$200,000. No Manic loan or recorded mortgage.
As you can see, the property was marketed over a period of more than three (3) years before Mr.
Silverberg purchased it.
We look forward to the opportunity to address the board and present Mr. Orr's findings which
conclude that the applicant is unable to expect a reasonable return on initial investment unless the
use .variance is granted.
Thank you.
Very truly yours,
BORGOS & DEL SIGNT, P.0
Michael S. Borgos, Esq.
SB:ar
CRR APPRAISAL SERVICE
379 BAIL ROAD
UEENSBURY, NY 12804
518-743-03U6
lame rro (lbaol.com
December 14,2017
Queensbury Zoning Board of Appeals
ATTN. Chairman Steve Jaekoski
742 Bay Road
Queensbury,NY 12804
RE: Use Variance
Errol Silverberg
-UV-3-2017
230 Lockhart Mountain Road
Tax Map No. 252.4-38.1
Dear Mr. Chairman and Members of the Board:
I have been retained by the applicant, Errol Silverberg, to review and provide comment and
professional opinion upon the capability of the subject property to provide a reasonable return on
initial investment. I am a New York Mate certified real estate appraiser (ID Number
45000001159) with more than twenty-five ( ) years of experience in the local market with a
Senior Residential ,appraiser(SRA) designation from the Apprai sat Institute in Chicago. Courts
in which I have qualified as an expert witness are State of New York Supreme Court in Warren,
Essex, Albany, Hamilton, Fulton and Saratoga counties. I regularly serve in the capacity of
appraiser for numerous banks and national lending institutions including Citibank, Chase,
MAC, TD Bank., Wells Fargo and Bank of America and am certified by FHA, VA and USDA.
Additionally, I serve as an adviser to commercial and industrial developers in the region. I
maintain my office in the Town of Queensbury and have resided in the Town for all of these
years as well, providing me with a high level of familiarity with local market conditions.
As a certified residential real estate appraiser, I have access to comparable sales information,
cornputeT software applications designed to assist in the evaluation of specific properties and
their specific information regarding acreage, square footage of improvements and location
criteria, as well as economic data from various reporting bureaus and governmental agencies.
The New York State Department of State Division defines"Appraisal" as an analysis, opinion or
conclusion relating to the nature, quality, value or utility of specified interests in, or aspects of,
1
identified real estate. The professional opinions I am rendering within this letter report is
designed to focus on the narrow question of the capability of the subject property to provide a
reasonable return on initial investment.
In providing this expert opinion, I first reviewed all of the materials submitted to the Town of
Queensbury Planning Office and provided to this Board as well as the Planning Board. I then
interviewed the applicant's agent, Dale Clothier, and review the subrnissim documents witb the
applicant's legal counsel. Thereafter, I personally visited and inspected the subject property and
took measurements and photograpbs. Finally, I utilized the software, data and resources
available to me as a professional appraiser, together with application of my local knowledge and
years of experience as a certified appraiser, to prepare this letter report as competent financial
data fnr your consideration in evaluating the use variance criteria.
The subject property consists of 6.55 acres with 435'x-- road frontage on Lockhart Mt. Road. The
site is improved with an 8,400 SF (Gross Floor Area) single story structure currently used for
storage. The site is also improved with a paved driveway and septic, which is common for this
area. There is no well. The property was originally used as a poultry farm, then an auto body
shop, later converted to a trailer manufacturer before being purchased by Mr. Silverberg on 7-21-
2008
- 1-
2008 for $200,000. The applicant then spent an additional $50,000 to clean up the property,
$60,000 to .rehabilitate the interior and exterior of the building to improve appearance and
another $20,000 to pave the driveway. A total initial investment of$330,000.00 to date. The
building is currently assessed for $188,000 (structure only) and the acreage is assessed for an
additional $200,000, making the total current assessed value $388,000. A review of the town
records reveals that two Use Variances were granted for this parcel: UV82-1990 permitting auto
body repair business and U79-1995 permitting the operation of a boat trailer manufacturing
business. Both uses have been discontinued at the subject site.
Upon site inspection, the original "farmer-built" construction is evident and it is apparent the
structure does not meet current local building code standards, nor was it professionally designed
to meet load standards, aisle width, fire suppression or emergency egress. The site visit revealed
a relatively low-ceilinged interior with an unusual amount of load bearing support posts
preventing efficient utilization of the interior space. Having reviewed the materials before m,
site visit I was expecting to see more of a conventional warebouselstorage space but the reality
was startling: a cramped and confined interior that belies the factual square footage of 8400
square feet. it clearly was constructed for chickens and the builder likely did not contemplate
future uses in its design. fir. Clothier explained that after purchase, the building was renovated
to the extent practically reasonable and M h Silverberg has since utilized the property as a storage
building for his 30+- classic car collection for almost ten years. The building has been used as
storage only, with no repairs or body work completed on site. It has been explained that this is a
personal collection and he makes no money off this hobby. Mr. Clothier explained to me that
Mr. Silverberg maintains a seasonal home on Assembly Point and resides there only during the
2
summer months. As a result, the building is largely inactive approximately 9 months out of the
year and has a gated driveway with limited visibility of the structure from the town road known
as Lockhart Mountain Road. Carrent zoning in this area, including the subject parcel, is RR5.
The neighborhood is typically developed as single family residential but this structure and a large
structure on a neighboring parcel, predate the residential structures and were originally built as
part of a chicken farm on a significantly larger acreage that was subsequently subdivided and
sold off. An historical analysis of the neighborhood development confirms the conversion from
mixed agricultural/commercial and residential use to predominantly residential over the past
several decades. There are dramatic valuation differences within the parcels developed as
residential as the higher valued parcels provide the homeowners with a view of Lake George to
the north. The subject parcel does not provide vista views of the lake or mountains and is
bounded by mature forest to the north and east, Lockhart Mountain Road to the west and the
neighboring parcel to the south hosts the afore-mentioned former poultry farm structure and
which most recently was utilized as a boat storage facility.
It is any considered opinion that so long as the structure remains on the property, the property
will continue to be a bit of a ",white elephant" as it is unusual to have a large, dated, and limited
function farm structure within a neighborhood that has converted to majority residential use.
The continued use as a storage building, albeit an inferior facility compared to the storage
building standards, is probably the best that can be expected fiorn the limited utility of that
suu urc. In the detailed analysis which follows, I have calculated the current market value of
the property based upon its current use as a Light Commercial — Commodity Warehouse as that
is the nearest definition to what exists, but I cannot empbasize enough that this structure is not
constructed or configured in a manner consistent with other Light Commercial - Commodity
Warehouse structures that I've seen. Thereafter, my calculations, analysis and opinion are
presented to further explain why this current utilization of the structure is believed to be the only
use that would provide the applicant with a reasonable return on investment and why other land
uses would be incapable or providing a reasonable return on initial investment.
Estimated value ofskb&a i2r{operty - Cost J roach -New
Light Commercial - Commodity Warehouse (104), Class D, Avenge Quality -
8,400 sf x (21,75 x 1.13 Locational Multiple =24.58) = $24.58
8,400 sf x $24.58 = $206,472.
Less Depreciation 5155 years = .09 -18,795 _ $187,677 (R)
Site Value $150,000
Site Improvements 150,000
Total $ 387,677
3
CALCULATOR METHOD saeraW.FPArEll
,+du Aw
LIGHT COMMERCIAL-COMMODITY WAREHOUSE 904
CLASS TYPE E)rTER=WALLS iNTERIOR FINWHCOST
U[#HT1NG&PI.U51BlMG HEAT $ .M- CU.Ft $q.�t
GDod C9nen4e ww-a 74 orQ79.119w�Jaw.rew GOW Ighwrp,4rDF¢Je18
wrood ryl4lrt.�o1 6x33 m -0 h6mero bAd.sE 3,71) 37.03
t4xoragE t�orlRYre N4 *.112M rccc. LMfvlis7red,rA7 %Moor.FnrwmLrre 14tlggLmw ipl,dlnp artl tiy7er p yo ..
Nafty° hd301.39 2-011 79,00
C� d waed doa�wam or Sorel allo■,9M Im Moor. Gmg Fw*v-moquot*
}� 4r�4tE 8R84F heelers 325 64 383 945
iJ Amvpa 17pon NAGE r t..papr,W 171IMhhed,®r 0"lli Yr.mklllern A&r{-rf@ Iyftlk7ff enct wolur 1r{well '-
-um ar query.oMetlsrl deers oek:u uAote,tri In"ft henlen 294.11 7.19 21,75
i4r'cod ,P66rgiprd SJiRnlshpd,lhlilehhsplrNl FADwwm,06cmFOR:0 ,�. gone iS3,gQ 9,48 ia.�3
0i 41 dSde soma lri ry cow awki o0.loed 9hb ,row Q*w l ■de*,yf@ fXthNs 9Ge�r wt>terrc
-. zrr,i7 ase 2&76
r�yyy�t LM1rrInlNretl,oorrorW 1krt7.ninlmum heelers 9Sa�97 1�6@ 70.
PALE Mbr _ mee>tal d +�tle4uohrll9hIIM1O entlwahn• NWI
_ 4.rtrCs,',Orr ex T
L94000E
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Gr d Cboa ran*.ca i1�' �aroo,omw 00 I1oor, Gocd IIph1Ip11,edequoto 7285
�� �� .. FlurntlnIL raheel8m 364,96 _8.93 Am
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0rdbin,
raw h, s 223.36 god 20.75
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GQw swrw>tomn.calaraiding. Sorel AR i
gaa4 ileh 11oor, ix•�tl lfih:e4, a r1r
Sr LAW goats aa,ravrr, sects@ g BPwpneelers Mss 183 202E
VMU t A� PS ongln99red hmmi,rr'+1+1 UnlirlhhW.oonoett flw.M1Y FF and wol'er -
�k1InA.a.'rtl dGpr1 o0oa _ Wrwr m w 24734 i.w 19,99
9ctooe7 LVa R1eNdar;lwrALtidl U%nlshiotl UghtUehleephory rl4LmurlMrlemioswtgpl MI1he 797,78 129 77-0p
L.1 GMT COMMI=MAL- MAI' UFAOTURlNG UTILITY BUILGII+IGS 186
r�40G Goo6 Pam rrooko.oaa-erwo. sme999kn.pootl"irkw.rew Fsd IlphWrp,9#gtlEle
W-up doors.�ax�e IrSr;enol _ ter* 984.23
1� - _ er a _ow Spam hooto 0175 M75
I.+POLH In 1r@ga PrF enE�reeretl Rq�t.9me, aonavto 9xv,Enishod odOS, AOqueLe cmk 11 agff '
motol aldiry amnsyd-0oors roW 9IIon pluna�lrl6Ekiures 6peHreeelers 347,96 X75 tt7d
Lvr mai v h8me,meed mi U+r�r7Mhe4 ht�Wp,emu af�a rilnlmurp I and hnelele 16ri7i7 if.e6 17.55
flood 1001 etlxe ia1F'9p em4A alFroes.9oou sUh Moor. anp,Fryepueto-
dr'c rc ■wnr rhe Irrer Spaco 1`77917 848.69 38,SQ 3193
P o7oq aallEflb Door. F�ILIrg 9nd
re,er�r+cra6berl'8.mo1w - Se -
F5 ave Uoora Pitl9puela Yckl 5-
L,oworrat ._amocrtl Ifrbrle�n pmras SReoeheolen 2?9.74 2"5 tS3R
riLerlrramo,r+y'.aild unrnlw zrmuof" Firlm997 Nhilnu erdpkm heelem 213.E6 ti-7d 9q,7e
MATERIAL- COMMODITY SHELTER$ 473
CLASS TYPE bESCk1PTL06J
Cost Par Sc.v, Cud!PK Sq,FL
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UNITED STATES
4�X48 A B c 6 b CLASS rk 0 C D s CLa44 A R C P E
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Aibwy Pwk 1.49 4.17 1,% 1.17 1.19 PaChkMpslo 128 1.44 T,20 733 1.27 Lhro 4,97 0.#7 197 4.919 0,95
Aww C4 1.32 1.82 I= 194 1,33 Rw3108tar 1.11 1-16 1.19 1.12 1,12 Lomih Court' 1,D4 1.85 7,Q4 1,D4 1116
Wymm 1,35 1.39 1.31 1,32 132 Rome. 796 196 111@ 1116 1.85 Mzldlotd 1.00 1.01 4.9E 8.9E 1X6
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Olblbn M 1,34 1.34 1.29 1.94 Syrawm 1.15 1A 2 1.12 1.14 1.13 Mlda1w&" 0.44 4193 0.04 0.95 DAS
EbeLOrarLg* 7�#j 1,34 1.29 t,FAI 1.413D TFok 1.11 1.1J 1.15 1.15 1.13 tlerrork 7110 1.02 1.D0 8.94 1.4D
Etli60n 1 1.50 1.50 4,30 D uum 1116 1,86197 IM 1.% FoftmwLh 0.95 0.92 0,91 0.92 099
VL'Eleru6 191 1.03 1.02 1.D4 142 SPrlrIrLgglldd "7 0.913 8,96 "ll 497
ElLmbalh t-N 1,54 1.54 1.313 1.54 TcAW9 YA9 198 1118 Y,00 1.10
Pallfbnrl 1.333 1,32 L58 1,&8 1.91 NEhYWORK C7rYA14CA 1.4a 1.42 1A5 1+15 1.48 Youngseonal 1" 1.14 196 1.89 1.09
Knkensark 1,3,3 1,32 1,11 1,m 1.52 Bronx 1A8 194 IAS 1.47 1.50
lr.i goon 1,34 1,31 132 1.32 L32 1n5ewyn 1A8 1A9 1614 1.46 1A6 OKI-Ak10MA 092 4.91 M12 COT 0.112
jamoyClly 1,3S 1,35 1-21 1,31 1,31 Monh"n 1A9 1615 1.4113 1AA 1.51 't°timwe 495 0.92 4.96 4A2 4.93
Lakmmop 1,710 4.19 1.17 1.0 Li& Nigowu'"%n4 7A7 i,4dl 3.45 1A7 1A9 8ortlowll6 *.w 0.96 A87 OA? 4.97
Morrimown 3,35 1.51 3.37 1,92 1-32 a'r6a r* 790 1.28 4.29 1.20 3,'32 Sdd DA 0.91 0.98 8,93 4.92
New gran i,�6 1.34 f,36 1.94 120 FkrB�m Ca my 393 1,213 1.50 1,32 IM Lemon 4,63 0.67 13.9E 045 0,06
PFW* 1A 4.43 1A$ 1A9 149 NDnopn 8,96 0,95 41.65 0.$4 Mr,
pasw i95 1.52 1,33 1.54 1-9 1RL19mnd c4mly 1.33 4.54 1.32 1,33 494
PbsF¢le L7F 1,31 1,30 1.28 4.50 8hlen WarA 1.96 1.35 1.34 1.97 1.4a TLdas
G:`y 11$1 0.90 Q91 097 1>,93
Pnl¢77on 199 1,32 3,30 1.30 1.11 $LfthC4LnIy 1,54 1.47 1A1.44 1.52
Plwn{ield 121 1_19 3,19 1.19 1.79 Wi4.ldleelrri our, 1,34 1,21 Ira,' 1.59 1.55 OREGON 139 1.07 195 796 196
Sonwvffe 1.36 126 1.25 137 i,&8 Ypnlmre 1.36 7+14 7,f5 1.47 1A9 AVOerrr 133 1_D4I 1.44 1115 1.88
Tooneek 1.33 1-32 9.91 1,3D 131 AllarmeL Ulf 1A4 143 195 3.87
TMLOR 129 1,27 1,25 137 1
�^6 NORTH CAROUNA 10-DO 0,61 0.94 DAD 0,00 AMetta 196 199 1114 1AY 1,95
V4FJQJ,ea 320 7.19 7,18 130 Y27 Annie 0,95 4.60 8.03 0.92 4.94 A4ntl 1,12 f_fi 1.12 1.12 3.12
ChMrl=Q 0,94 4.93 0.92 493 4,94 O�Oey 190 4,05 794 1,04 1.46
Yvoit CW;go 7,31 1.29 1,2e 4.29 1.210 Olrfhwn 0.54 8.04 0-93 993 994 Co aha 109 4.05 1.134 1.03 1,9$
NCW MEMOFwYanve 0.50 4-92 0A9 0,90 0.59 EsQum 1.15 1.1$ 3.11 1.18 1.73
O.n D22 994 0.54 4.54 Ga=rdu 8.92 099 0.95 &M 0-94 Gren1s Pass 197 1.84 1.U2 192 1117
;dM.MQaor7O 0.90 411E 049 0.95 O.N odddhom 4.99 DA9 0,87 4.B& D119 laemelh Fa1a 1.07 1.84 T,02 1.02 1AJ
Allrngyerqu* 0.92 Db1 $9Y 4,21 0.92 OfflWr om 0.89 0.96 CW 4,139 D-89 &Wrerd 1.D41 1.09 1.05 1.95 199
Calsbed 0.92 094 0,91 4,92 Wlf G.Vrmw 4-06 0.8& $86 4,95 1.85 NOM Bend 1.DB 1.03 144 1J85 1J69
410VA 0.96 4,95 6.95 4.94 893Jetlmk 0.80 0.97 4.98 0,9E 4.65 PerxMlen 1.11 199 1.49 1.10 1.18
mwq* Am? 4,49 0.613 1098 0.0 Faftnd 1.11 1" 1.05 1913 1,98
G R11InQion 191 0.04 0.107 4.98 0.99 Raleigh 0.04 0990.10 DA& O.N Redeburg 196 1,44 1.41 1.62 1,47
IwP 8.99 4,66 0.134 0,94 4,92 RCCfi moi t 4.66 0.61 0.86 DAB 8,09 fR 1.11 1.00 1,05 1.D5 1.1313
Hobbs. 4.90 OW 8.90 0,90 4.891LawdrvLon 4.91 8.62 M 11.$2 8.9$ p nnpTrred 197 },03 1.03 1.16 1116
Las Crucn 4,93 0.91 L3.$2 0,01 0.95 'h'>roih-9erem 0,138 011E 10..86 4,06 O�E7 Ini Dales 1.12 1.71 7,4@ 1,07 ifi9
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Panalv14101111-111113 DAMOTA 1,D8 71,02 990 111-0 PF 4k$nVANFA 1_* 1.13 1.11 1.11 1.11
7 0.59 0.86 0.88 U N (I.BS 9lonoft 199 194 1.101 1,00 3,45 Allantoin Y_td 1.18 1.19 1.18 7,11
%ML41 0,99 9115 096 "5 4.97 FBrgn 192 Yp2 1,02 a.BB 7,83 Aditmo 1.14 1,94 1,71 1.11 3.72
Santa F¢ 69g 9,94 4.8r 6,95 D_96 C3rmn FOII.b 1,42 1.132 1,01 499 t.d4 59"Mern 1.13 1.16 7,iO 1.15 3.18
Tam i 195 9.87 1,82 146 M 1= 1�M 132 1x88 1,04 Won 1.11 1.14 1,10 1.11 1.07
MWA141 191 taa grip 1,12 1,12 1.12 1,10 1,11
NEW YORK 196 s,0& 4,09 3.16 T,UP Kim 1,04 1.D2 1113 i,01 1.04 H¢mbwg 1,09 1119 1971.08 1A?
letrftsla 1A 1.04 1.D7 1.8.13 1,05 wallsw IM 1.42 1A4 1.84 1A5 .M4rnalorery 1.11 7,40 199 1.87 99k
Larrm4w 1,18 1119 1117 1,07 193
Nlaga[on 3,70 1.21 1.10 1,#3 1,25 41111G 1,01 191 191 1 26 136 1.27 1,25
F1m�ra FiLle 1.16 1,14 1_i# 1,15 1.1� ,gpmn 1.02 9113 1.45 1. YJ33 Ne al¢ 127 7,
JJlieryy 196 1.74 3.13 1,13 1,11 03rd yl 190 791 1,00 4,60 1b1 PUB� 1.14 4.2146 1,9113 1.11 1.�
AmFNMrh 1,47 1.89 9,11 1.15 1.09 ChwinneE 4,97 996 0.97 O,IE 0.99 Reading 1.14 1.15 1.12 1.12 1,06
Au4Lxn 194 1.04 1A0 1A5 ].104 CIr.W4na YA# 197 f,D7 1-00 1,47 sueni n 1-05 1.04 1.95 1115 ipa
Ilk, Maw 1.139 1AD3 1,02 192 1110 CpRmhu. 1101 1.02 1.D2 7AY i.D2 gdmCAKM 4.DE 107 1.46 1.85 1x07
6 o t.ia 3,75 1.18 Lir 1,14 !Damn 09& a,0i 0,94 4.913 13,97 W1ku Barre 1,09 1A6 1913 1.04 1,0
Nmiljoz
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L/�
Analvsis of Allowed Uses in the Residential District (RR-5) Rural Residential
I)Agricmkural ServicelRetail
The subject property would not be conducive for agricultural services/ retail use as it is located in
an area with limited traffic flow. Moderate to High traffic volume is oonsidred necessary to
support agricultural service/Retail uses in a financial viability analysis. Historical information
about the two prior /:.ase Variance uses are instructive here and confirm that neither venture
remained, reportedly as a result of the business difficulties encountered by the remote location of
the subject parcel outside of the moderate or greater traffic volume roads within the Town.
Lockhart Mt. Road is used primarily by the homeowners that live on the road and patrons of the
Top of the World Resort. There are also several areas of Uckhart Road that have steep access
making winter travel difficult. The costs to modify or raze the building and construct a now
retail structure are as follows:
Estimated value of current building $187,677
Estimated cost to raze current building and construct a new retail space:
Demolition and Disposal Cost estimated at S 100,800 or ($12 8F x 8400 SF)
Construction Cost oftypical retail space - $75.75 x 1.13 (toe mult) _ $85,60
Avg size 4,300 sfx 585.60 = $369,000 (R)
$369,004 - $100,800 = $469,500
This $469,800 cost to demo and construct a new retail space significantly exceeds the current
value of the subject property and there is a reasonable belief that the Agricultural SeMcelRetail
use would fail to provide a Treasonable return on investment premised upon neighborhood
development, mountain road location, low traffic count and historical performance of other
commercial operations in the same location.
4
ares�p+d
13P' E24CALCULATOR mr=THOD
RETAIL STDRES (353)
CLASS TYPE EXTERIaR wLtS IWERIOR RMSH LIGHTENI#,ALU"NG HEAT COST
AND f14E NhCr4L M. Cu.FL Sq,F"
&odloft �M.r�n h•IaS k99[nreli, F �e�P;9leraad par�InQ,hlpht7 ��r1,yee e'ti brrd
Ha am If,
-"�gN,�ood !r�?mo,.serp�l ilfet�Wd�rupEneh'ram6q, ] 1Ae�l.�t 14.66 iJ5S0
A trdl�yhmr a -fPrt,�vo�+�MM�B 4aor3sinG r �4 and 1A17,96 fA.9e 19196
Avompu $17LOF Wft-ftemew P1rF>tar4nmA,aaxu"0H1tlp�µ�He0IlHgonQp lle,
Lan eaei Giak inrrvFW pineh, n her Q' { ,�!ParbnW ■�nli6 f9ih'tanu ' hal_ enptaaI 1.tls,t� 4.41 190.34
UP WIYP11t4appp1lC6k � hinYrrurR Lftg. ue�anG Hwwobw 94E16 4.e6 49.91
Ex.Aiunl +� b99t nw"Wa4. �C4{ 8M p9wldrrg hrglVM So9ed1{��y fodul4f and Hol idglkd
E�aeonorela. Mrlflm,or�N_ a my�dikomm�ugiNrE wvly��pryFr� i.d.H.63 [6.23 Iko.r2
Q:od Orr h8eh 9on1 xuie, Plwder.eoou�pfeNrr tr dle, G, W-lghphy ind uAM.9atld WdSa w d rwCl
B k-_,. u+W-I,1�ival2ti+� T5=*wd bftr �r pArydl 1XIA4 1Uie2 mAi
, ,i a $1d orS4rlPNte,fmrapp me* PLE1Uf or 6wah.mmuao fikr. Adiprur dprly6eM W". ena oopl
=-- notrra.wFil2T?pulliu4clo- +a m4opmF � V94.14 d32 A9.7B
Lcw peal F7rad1�p11ok�fAhoela po1'rFl1, �Wsr%amauc ft MPhia rXrakinon Il�rll'991tlku4 anQ
u fiidurie FF77wabr 91219 6.28 76.e1
-ftlF
Ercealhsnt Fararnr_mkm orr �urryN7Y eennYe °4ede11Ahpp Nfer&, apd
�+� arpwl mauocrnp a rWu�y 9 E 1.SIF.C# TT.Aa 1#1
�+ 13pgy 49i41h+up, ,aaouMeppl1wYKM�1rrtrtllo Gam'0�1gPI'MAidoallok.
V - -+?�P'K'MI�., _ q'Jplpr981roorna PmdcogpR.C. i,i3eaa egi 1657u
Avery e �r1�1. P1{gi Haas D6*wpkvAx owtrred num"Y. Ad"aWpl}1 am 444818.
_ ahSua7c Pt!LK iY��dOrl a rnsL+�'�'�74tlrar�rtfupprii Pod#ppAC. 684.74 6.74 96.39
Lan toa[ ma79prk r d'Iod�t;-IW.kxr �#r'R-0�ehe,4tyxtltra�etlp mff& n l0Idrp and er'Q1ay8ef
6M. LI04 Fmmdok 82267 4.92 57-7
Raar1 Grak ar 44wm Ferrer,
€s9IH+�l [D5-d!rhinpr B PL"@71Gp1eelerorp�.iy_ tlphaAp*Eoulld[4. tlJmd i,*@@.75 1137 12415
mpei!!Id
{,� No sh¢ or WN.brick�mr m. PJea-JPj!L! iC alar a GGW I hlirq eatl
Orrddekipw[+1MmmaaeorF eaoulM.tiih �r�pgdn gWltulprYl,emrrdS�G.ptbs +A9R.C. 1,47601 6,94 76D.t5
,r„,e1 +MdYrp,awnfaitiw`e PNrlLtrgr�ry�yLLamusmu4 fdngLmft mmw rVhLLdru�
WryrlItrL'ooilllabXet podopNkC. 61637 8.91 7e.7s
LolripOf4lax'ia,
��yy Ltwot perry&�',ri�j' Er%py90YileGhl4 gnavantlWtl4�, Foroa]ar 582.87 OT &L16
J.�F9LE '[het ana 4rR4tlrY did P h4rrE IM p ,r Ww .'iny! I.Fnlmun IlAppnp�rq
rastrope F4Rbdav 53639 1627
Quad eldaklFpeaels,ayM Quo AYgWrC15.+Y41oarp:�Ibn GofdIIv k%wAnulk3,
�+ or!!!nM1�f L G 7 4hpAdr ihvH end eifply,3?�.0 pim nmhopmF, rydr f F P6tkWo U. S,G16.15 0.116 97.16
S flood�qnd Mnebv rWF +kpglk Qe+�i wlr[padfar4 M uete#F�!Uoh1
a.r.rnpnm@on.pleY:"_q�+ Pi�ble orffyFl1 .. _reenon,u.ra�.eaiieAr. P>idlnw,LG 77r.Gd am rtld
l,waov[ L18hlp/nh1F48 4fratllp, f dh1,p}gp�ll rdwwi 1N.Nmum..__ r'dnutlebc, .
ik6heGu1611id:�rrpiGM rhYlmum Porradair 5N.07 421 44.54
NOTLTs For naloll 6eatram4,aff Faple 34.Pa perkho Ov=res,tea Su don 10.Fedo"No 1164filk Opu Bacum 16 ar S6.
MULT187 M HALdINGS ELEVATOAS
eAM0,6%Ila%)fgrasrdlehoyOwrihree,abs�jolouod,toallbi*9QWKk9dudingLe94meate bswLortrrHamnalir� edln@SOLaaecomdornrgle4�rea EaYrenwseremus�boea9tieM
hLd rouupinG mel.arJngk uP to 97 itpd9l,Atld 0.414{1114%}fr7r aedr wltll@onll slmy weer 36. whm using oquere foal elawiw G09L Srtrull ccml WCW huAdllyF m Meas
eihdY&4ndk'u III 6Y to n x118 sbefskmanor
euE0PIE9 law.is mld�rheP +ep4r�pdi d eif.e,xwely■rbmiN r#rrg/or area sprvgd Ir,nae hlas�iF far
To ftbMYmeihF=1 h=iergcenVeaoe-9-2 of mrpggcarap;es�wworih&%6mtrg- Vplipakm-Cneb dmid b8sddedam■lulrg am fiprn Pepe W.
Page 40 In FL+iWjDrrarlrnpLu fnxn tie S&gF%RD G QAb In$9CWn.4%ar hgrn LRO-Ia4lleae
Car1h1 in SOCIAn W.
13ALCONES
9NhINKLE4E Ta deawrnlna the punt far aimellpr b4aordee use on*OT tris browing:Pepe 4D it Ihlp iedidn;
SyZ1enq we mol.i.mk ad.Onti ehoultl be soled irprn Pape 44_ pr7f'�u'.e Born Vw 999repeoed OnIs In Sedlon 43;or h'wn Unlr,In4%0@ OM}1 SK50h 66.
5.KS CU V4jWftQY3EgW(p Thr da&�'4fxdrd on ahlapp� besowes elc.Jrla
rRMr...e�m ,w r4'.5 mm%+ j '4,nm-u% trxrMilfi4�,.,a�, rr,8�.7w�'w3x.edw °R'r cgpJ'de drfin�6 ndie�fH16r.1fgr TFrR
S+3dl�
Agricultural Use
Due to the steep acoess, difficult travel, and limited tillable acreage, the site is not believed
developable for Agricultural Uses. The demolition costs developed above in the amount of
$100,800 would likely increase if one were to develop the acreage for crop production as the
asphalt paving would need to be removed and disposed of as well. The subject site topography
and local codes prohibit clearing of the entire site. The infrastructure costs associated with the
myriad numbers of agricultural uses possible were not developed as it is readily apparent this
small site is not large enough to provide a return on investment when acknowledging the lack of
efficient production when compared to a larger acreage relying upon the same dollar cost of
infrastructure. Agricultural use might also encompass animal husbandry activity but it is my
opinion that the applicant's initial investment would not realize a reasonable return from the
meager earnings from such an operation which generally requires ten (10) or more acres.
3)Bed and Breakfast
At the present time, a well-established Bed & Breakfast is located at the Top of the World Resort
and provides for an available comparison. The Top of the World resort consists of B&B,
condominiums, restaurant, and golf course on a very large acreage with sweeping vistas of the
mountains and Lake George. The current storage barn could not be easily converted to a B & B
as it does not meet building codes. The structure would need to be razed and a new building
added.
Estimated cost to raze current building and construct a new Bed and Breakfast:
Typical size B&B 3500 SF x $102 = $357,000 ($90 x 1.13 loc.rnult = $102)
Demolition and Disposal Cost Estimated $100,800
$357,000 + 100,800= $457,800
Estimated value of current building $187, 77
The cost to demolish and construct a new B & B far exceed the current value of subject property
and the lack of a golf course, large acreage, vista views and the other amenities of the nearby
resort property lead to the reasonable conclusion that the applicant would not be able to expect a
reasonable return on investment if the property were to be developed as a Bed and Breakfast use.
5
4)Boat,Storage Facility
Due to the subject's rural-remote location, steep access road that is sometimes difficult to manage
in all seasons with sharp turns, blind spots a nid narrow travel lanes, and the fact that the property
was at one time a boat trailer manufacturing facility that relocated to a more accessible location,
collectively lead to the conclusion that this use is improbable. Additionally, the local market has
seen the development of several large-scale boat storage facilities with millions of dollars
invested (for example the Boats by George facility) that are more conveniently located on high
traffic roadways that do not pose the difficulties of this site location. In addition, the available
acreage with grades suitable to support exterior boat storage is extremely limited and it is my
opinion that one rnigbt be able to accommodate only 15-20 boats on site. With an average
exterior boat storage fee being approximately $1,000-1,200 per season the total anticipated
revenue would be projected to be $24,000 or less. The current building is unsuitable for
utilization as boat storage: it has 10' doors and low ceilings that would make it difficult to
transfer boats in and out and would significantly limit the length and beam of the boats accepted.
There are also wooden supports that would limit the amount of useable space (See photos). It is
estimated that fewer than 10 small boats could be stored in the building. The cost to raze the
current structure and build a new boat storage facility is not financially feasible:
Demolition and disposal cost of existing structure has been estimated at S 100,800 or$12 SF x
400F.
Construction cost of typical boat storage facility of similar size.
$30.50 x 1.13 Loc molt= 34.471 34.
8400 8F x $34 = $2$5,600+ $103,000= $388,600
Estimated value of current building $187,677
The cost of demo and new construction of a boat storage facility far exceeds subject's current
structure's estimated value. Therefore, coupled with the large scale, conveniently located
competition, the modest storage fee obtainable on a limited seasonal basis, it is my opinion that
the applicant would not be able to expect a reasonable return on investment if this property were
to be developed and used as a Boat Storage Facility.
6
aacrMrwrrrAs,<rl CALCULATOR METHOD
31myxlrr
BOAT STORAGE BUILE)INGS (7 67)
CLASS TYPE EXTEMOR WALLS IHTEMR FIHISFI LIGHTING&PLUMBFNG HEAT COST
S ,hl_ Cu.F#, .FL
A'.nriye POol rnme ertl Wi71Ae, 90MR pwlldonn&,7►4J.&1133, tln►Twni ler=rkal
l3 �r}'M9Gtl{Y 66Y[d�ItlirO_ Ohl�7r_s'�er{g6f8tl� an0 VMl9f i8'Sicn W�119 379.3U 9A$ 8450
rr�wnumfetloc nrmruggrc.Alm n7anp 2+s.ue 1129 22M
i''� ,tmr�y I andtroc�rS4R+4k7Allomi.Gheppre.7.efonwIpw
LTianum4ilCEIGN
LSF' u I n04Y.a e e mek4 ifd aiLer 4prylo4 hone 29B.10 274 27.75
Lo,r cm PCkE kerne,I ght nr744EI lkkrg °�'47plwk dorm m domed `
nPLnYRrYM renin4 enilwW culleix 37.74 Z135 216D
Gooa Gooni ay1rl an hear{sI971 ww aftit.me344 Ilam- Adegnnte 1 keu i..
h'�ne . 2220 i! -intLNon. 4313.W 4.CO 40JOG
ArehWe- Male)eking on Gle9l frame PUit0IIi7.eh*VnFL Mi*kAp twdrwX�m -
Low oG�[ Co''+z7t ekl.rp,l�rt yleel 4rntl.VlCbr da-q Herne 12427 2.Y6 22L"
UARr�he �pP1>r/311,11,
&WWnWwnumrafb admumal&Wcr Horn a{asa 7Z4 22.0
u�nope NWL.
Clow Goon}eglel6nhoary747+71 9m71arow. AdognnglpuWc6j;e
� l,
-- eM1mM _ 9_° n7:k4 _ __ _ _ i4nre plunpY7g _ _ NoM 449.33 3.90 �6A9
S�eLAw Amfege ..MaL&I on alnrl4er-511 --- --'-- ry�yny --- 9W.OB
WALLScene PM7>lon0.eromp4 raLi a 7XW xLCer eek _ 4 iS
40wteel Conn-XOLcikVp .Mari;. 43rQrmhodMWMUMFI%*A MWMandhninWT T_-- g,�g•----211 11.95
"cl W"dtlleV
BOAT STORAGE SHEDS (466)
Gadd DXh pant,p WWbeyd ending on U61YnWhwL X9hlC elp or
p441 ream end q6a mor wke Sad�r�y%hlkg,nwV nam inrr_a. xt3 97. 9
D l4erop aped ii Sa wk
or9Gi�M ProA hi.e�p1� nw. ---
. _.__.NILt fame 7Id f!K>c _ ?�en49P rode _ Nam Ham 236.73 3t9 211L5
qAW 0051, RM am�WW-MM� of*1307 UFttddmd.o4Ph0IL floor or
mdd.ninin-ruetC4 1#.E3
Good Opon bmk goad nm771LL+'96n UnrkjW'P .J,L=Krgl7 Cf
1�
_ W., a-I {Kk Alto a ped k'@ L-T `Sbw19hddunbi
^➢�Ind np N&M 11734 7.9tS 39.56
OpiuLE 'r`ww nkG54ntl nr>lanlonIva Paso w%mmt now rwr, '--
andretlk Nam Noes 21113 7.94 19M
40+e Goll End wah EF'YL rOW-W d ak ft. Uthiehed.gpprnell Oban
r ctilmr 1 my
♦aGvl ctp-k 7LpOCdnanelelonl4lyw Lkdnw .IWG6nmb!lor
rde6YpM1yI fWn9.eopMHbinp r7ane 136,39 113 31 5
---'-- el redn.4nd rnrde _ e4f-Inel lkw. wdns
` Ay4rrW Oponionkmeml7wlgea�ykr uMnlMedaspn.plloor_ .__ --- '-- -" .. -- - ----
---�--- - . _ .- ---
r�a!!q aM Mtln atr4wptf bk. _ H NMI! 72T S 172 81.1
-LIMwd kr7drAllsaNt',>pµ9del&.*nil tAW&he4>orgl'a&,ror ----- ---"-' -----.-... . --- - -
tuOX l70Ne Nonp NPM764+16 t#7 N.]S_.
MOTES:UEBiGmI 19rgBF9rwaiind k8s Ed 97e penimeLertin Lhe FkmrAIEefflafYneler4Eh7E. I30AT STORAGE RACKS
Far b6m 1911.hplElb end�aIInB caafk.40.9bcllan BT. C tl cd&iGrigo mUt.c are 1nd-i.iod N In E boek building&and shwk.Calan
OF rddEs Only Erre
Fwgklnpd, EerlC dee E799 Senyhnn i as falkrwT,:
DwtYmrd&3*9 bwltlknpe(eho%im,Im)tzin bo EMMIF PI Seen 14. HIGH AVERAGE 1 WLW
94.FL cm LS 13.7*- 15.95 9.61 - 11.99 k.Q9
For emrOkben,eee$VOlkn 13;dubhOu .See Socum 11. $q M.axles: 1#T.17- }77.A6 7{I}$#- 176.G9 Fe.$# 9>•,31
St{RSFtttLl!ILLU7xw.mp7'k1° Tfie frdt lnrddFl wd Eritrpnggr 7�laonts aiwkrr uflr. �fe'dlrr'2',sr+&rda'IFd�G,r Jfl Id1P.
n 7of {wrio�rry,hr.i.wr7s k-mu.�.W nirr•'+ ,,,x.�y1 .im rr+uw'. 7pr d dW efi'+AyU�r 11,111,+u2;w kwfe.4t.. ^^r'r4n•,�7,dx,i
km
5) Cemetery
Due to the subject's narrow 6.5 acre site, it is my opinion that it is not large enough to support
conversion to a cemetery. There are currently 30+- cemeteries in the Queensbury area with
most being over 50 acres. Plot sales provide for limited annual revenue and maintenance costs
are significant. As a result, all known local cemeteries are operated by not-f6r-profit religious
organizations or governmental authorities. It is my considered opinion that a cemdery use is not
appropriate for this location and, coupled with the demolition costs developed above and
incorporated within by reference, the applicant would not be able to expect a reasonable return
on investment if the property were to be used as a cemetery.
6 Group Camp
Similarly, the subject's site of 6.5 acres is not believed large enough to accommodate a group
camp. Most group camps in the area range in acreage from 40-200 acres and provide for
recreational opportunities with rivers, lakes, mountains and large play fields. Additionally, they
are typically developed with lodging facilities and gathering halls of significant size — all of
which would not be able to fit on this small parcel. Example — Chinp6gook YMCA, in
.attskill Bay consists of over 200 acres, Double H Ranch in Lake Luzeme consists of 45 acres
and Camp Echo Lake in Warrensburg consists of over 40 acres. The demolition costs alone
would provide sufficient disincentive for the applicant to even consider a reasonable return on
investment for this use.
7)Kennel-
Due to the subjects remote location on a minimally trafficked road without a significant
population center within a convenient drive, a kennel would not be believed to be able to provide
a reasonable return on investment. There are several operating kennels in the Queensbury area
which are located in more preferred locations near residential areas. It is assumed that the kennel
customers are desirous of placing their pet in a kennel that is convenient to their travel to and
from work, major highways or the regional airport. When analyzing this location, there are very
few residential potential customers that would find this location to be convenient for dropping
of9picking up their pet. Furthermore, the cost to raze the current building and construct a new
kennel is not financially feasible given the projected operational returns of a kennel with minimal
profit margins after payment of labor costs, expenses and overhead.
Demo and disposal cost estimated are $1.00,900 or$12 x 8400 SF
Construction cost of typical kernel 4,000 sfx $101.20 = $404,800
7
$404,800 + S 103,000 - $507,800
Estimate value of current building $187,677
Estimated cost to raze current building and construct a new kennel far exceeds the subject's
current value and the subject property's location is considered untenable as a host site for a
kennel. Additionally, it is likely that the common complaints raised by neighbors of proposed
kennel sites may result in strict limitations on size of structure to board the animals, impose
additional requirements for sound proofing and limit the outside recreation space allowed: all of
which would result in a theoretically small facility with minimal potential boarders. Thus, It is
my opinion that the applicant would not be able to expert a reasonable return on investment if
the property were re-developed for use as a Fennel.
8
CALCULATOR MET1400 �€�M` A0
KENNELS (490)
CLASS TYPE EXTERIOR WALLS INTEifiIOR FINISH LIGH7IHG,PLUmIa lGHEAT COST
AND MECHANICAL Sq.K CLL Ft Sq.FL
Ee Ebrd F4a40rlck,elandArC*nMto,foetal ph".corw,ow"ondsma QeedaieeikMerd libel ViVenadddada7 24a2N foga 226.16
and grrq,9u A 19444 Ped Was _ 11N71rm.inns rawardba QMu _ WL h"4nd pixvery Dow
Fess WGk.bknk or oonorea%good Pmmr,oe�d<, mmd rd appal' t.,oQi ighJSn mrd phmrtrYrp,Imo, Warm wdc"■r
Mtreflde and trim, _friehee. hrdow e7rerdae hdtlea Beller anind earNal incl is-92 14,4 17490
-... It -. I --
Fam brk*,ananenlal MM peed Fbaier or dryrvll,tdr11,pond memmry Good Rphting and Pk+mhY1g,good _ .
r,.xd Pa�je1�G- 13 ,74 10.6@ i2@Atp
Rvien&add rnaltie'4th bcrrmb,laiye e�lmel oonlyd ladFb locloer,ehoner and mhr'aou
Pmd h• shotl nlodor, i-osier ar arpall,mmo"oorrrp- aty-aio igwgandpumpng,
' °rag° eons Inm _ Sauras,Iormoostanmei aorr!n few oMrae,ensatl aeahovr Forced Wr #77,57 7,91 g5-W
Gorr aaal 91or#arikl�up,ptuln wi4 FAN Hyl CD La� ~°g'su.no Minimum llghltq rnd plumbinp "fm000 737.33 SJi am
Leap __. Cheeptbdi tJadFAsh4ui.v rhraomorrdnae Mlnhr mmMpW gu4 0ralrry Napa--- 521.13 ...- -0A9 --_ -4&W
rmulignl 49G4mNprrry+'FWWe rhMevM PlAH6r.tW LgIe7e4e%dtpoy G"dM*6fltdi*dpldmbPt,beeL Widnnenitpolbtr 229Q.21 12.7-0 2Y3.16U
94us.bat 40M.Elps-"low nnwwL RKlew swo redlLi4 thoiet and talon Sdri _
Y87 good Fen?hdck or alone venerr,pond '- Plaster,anraml4 gym antl epooq fiwwd IhyrlYa7 and plumtrlrrp.letr, Yfrrn vrd oml ar 7id62b 12#9 74+00
aWmm end din Rn Irmo mardbr reditao teller anHo oormd re
65bd Gmd b"sooner. drnpors!Ie Imherwd, , goodrrworrx antl M,9 gond Por#epe1�O- 1247,% 1044 12090
DUlm mWFinamn&li n kennel; r�frd mMoL ie tocker,ahamr,androabooms
or 9r Ww 4r ,Wren a4rr(4, mp a a n9,
* mst mkk veneerT as ec#�rq lax�_casl rnlmrl o_md_nA ler e,' vrra•reshoom Famed!air 953-V - i.#A 8p-50
Lawaoel or sUrrgiwdm4 Ir649er rrWa gmm*4;' !%Mmum 6phtlng wW phAvbnp W01nrhx45m G&W
_ mVBnxn aagoraM mru
Che 1j oriq.-ZAt[r4lr44 linnnlldld,'r`9rkwgman4Rr4 r314rrrpin7Ar+iCa0. draft Ji W* 19215 3183 WS
' e PdtrNoma.ftmglkip,bdaktrim,_ dry".bomehMuwnp_caW_&and 7hwiffaiamdphrmbip,
IPeuee-rWled bb� hrMkrYlnidc �oiedIry mel
Feroad al, 4mue 96T RAQ
Dmxz Gar wm Pole frame.metal skLkl,pias mL4 now wrli' Minkm IVTLhg end plumbing wail hxm000 biggp a,�p ` ,5p
Ow" MOM 6phl.pa*kWm Ret �MWwmsarulrfc, grains None 495,9-0 9.51 X6.50
IF4ulpI4U lan4wiHr pWWE,2Mplow at&vff9k vinyL Wed nbwwy ICal Ltliyftand plumbing,PWPBW.Bp9 AC, 7#22fit4 9-+A lid=Lan and lan4710M Wrap. ardor-cane lfaci 1ximr_sh5%k*and ro mrro
NR553 ye ■of rpotepeer ue 6g m errG� rq,
�+ ' w *Hh FNeherr
diiww , n .1"drniraFc17ff4bel edi lew'eausk rdwtaFarteda< W13-55 7A�F - 850
•7 La•4[*R Maug on lVfl rrane,plain enhT Dr!"Mn rMdl ee Brad rrar2g. MHmum rlohiing and Du-Kw7 Wep fury r 54MO 4.W 5M
mlrdGhaap Steel slang 4nd k6rw UrrrinV".wwigrmm 4on4 r4tn&Only Lvim4m term'-.9494 OeL'4 HV* 462M 3.166 4296
/�l�''y� BASEMENT - KENNEL. BUILDINGS
COS FlnkKy! RaMbrpp CWIC7Fa P'61NE 7188 Few Mitku.Dome aeaaUk No.VC'r, ?444 We I'0'11 r5 aril klarodltip. S h9e4rE 16r 6.54 s-26 67.09
near, in[atl, wv314 Ve0M 4 Irrtepl4d wprk 4n4 2bpm a roamr.
HOSE-Far epedai amrpkle NYAC hidudirg air or4ng4 fdWri g,uw Ilia Hot arw GhIhN 4X'Ptor KENNEL CAGES AND RUNS
S4sWn coal range an*Na on Page 39. C6ga orkerwial caping vo Included In 9h6 Nwinai mm 9twmL wtihn WcA rMLXIrgpCI 296.Q9W
kra
WAD rpch,and�altW 4n gn"s building vm oc(mind below. Far orldoor nuns,spa
CANOPIES- Large entrenoa menpims a rar'pad can4pgs sec Pogo-72, or Ploy m"to Sietubn Be.
cprrnpulwi trCrfl Fle 88V%aled Unite.Sedlion 45.ar from Urr3-irrPleaa Utol. M-
(30W 9.26-ti-26 t�9 - 124,56
Smed pal r 2Wry m1oris coat hAE401p 44000,00 Inur"e0. L9'go-cmpaM unlle wen nor Amarplro ii.JJ%-73Ap 128.02- 139.03
44901).00 Lb 86506.016 asth.C46a db rW hndude s ubbam.Pr.scales cane 726.130 X50 Ibp m Mi4lmism 19.66-15-05 145,31 - 9BF.CU
1568,00(400ltr), SPRINKLERS-SybLerne ereebl Inducted.C679 ehmld ire eddrl it m Peg,7 37.
aRSMA.LlrAEV,fTAfAVM17,U. TttrdareArsiadrdanNar•1. gBIi++MrrreryfrreQue9Pdw*Zhh"ukMuWf0NvcLjmef.Zara
rr
MY?Cr Lvxrr$%hr era Nrarr,ca.R.aRnjlur ma cd ,r,p'^7rra,raR mrn,[,ru,Q rrra*r.. f&A1 uwxwk-dzpwh-J%q,6,a<.os,5yl..r.lMwd 1/l28lT
-4
S}Nursery-
Due to the subject's remote location, topography, existing vegetation cover and small size, a
nursery is not believed to be a financially feasible alternative for use of the subject property.
There is limited traffic flow on this road reducing the likelihood of a successful retail operation.
Most, if not all, commercial nurseries are operated in large acreage agricultural areas with rich
soils, level topography, access to irrigation, and with full exposure to sunlight. Accessibility on
good roads is also considered essential for the transport of supplies and shipment of nursery
stock to customers. The subject property is challenged in all those respects as previously
detailed and incorporated by reference herein. In summary, the site conditions do not support a
nursery use and the previously developed costs of demolition and repurposing of the site plus the
costs of development of a well, irrigation distribution system, storage facility for m hanical
equipment, etc. lead to the reasonable conclusion that the applicant could not expect a reasonable
return on investment were this property to be used as a nursery.
9) Outdoor Recreation -
Due to the subject's remote location, its current improvement (8400 Sq Ft.) barn, and limited site
size (6.5 acres) it is not believed to be suitable or attractive to be an outdoor recreation area.
Analyzing local Outdoor Recreation facilities for comparables, I find that there are certain
locations operated commercially for profit such as the Vest Mountain Ski area and Adirondack
Golden Goal and Adirondack Sports Dome. Each of these facilities has many hundreds of
thousands of dollars of site work and infrastructure cost to support the for-profit outdoor
recreation uses. Therc are also many goverr=en,t owned and operated examples such as the
Town of ueensbury's Jenkinsville Park. By oomparison, this is unsuitable for an outdoor
recreation use due to its small size and lack of any unique physical feature that might otherwise
attract such use. There are no river gorges, no exposed mountain peak vistas and no body of
water to provide for swimming, boating or fishing. Coupled with the actual cost of demolition
developed above, it is my opinion that the applicant would not be able to expect a reasonable
return on investment if this property were developed for outdoor recreation.
f 0)Place of Worship -
Due to the subject's remote location, minimally trafficked mountain road, limited size and its
current improvement (8400 Sq Ft building), the cost to raze the current building and construct a
new place of worship is prohibitive if the applicant sought to expect a reasonable return on
investment for such a future possible use. The developed and assumed cost of demolition and
disposal of the existing structure is $100,800.
9
Estimated cost to Tawe current building and construct a new place of worship of relatively modest
size (4,000 square feet)-
$12.3 x 1.13 Loo Malt= $138.39 round to $139
Construction Cost of typical church space with 4000 SF $139 =$556,000
$556,000 + 100,800 = $656,800
Estimated value of current building $187,677
Thus, the estimated costs of redevelopment of the subject property greatly exceed the current
value of the structure and the physical location and local patterns of low density residential
development lead to the. reasonable conclusion that the applicant would not be able to expect a
reasonable return on investment if the property were developed for use as a place of worship.
There are many other available parcels in closer proximity to higher population densities and,
although places of worship are assumed to be not-for-profit institutions, they do depend upon a
volume of parishioners to provide financial support for the capital costs and operational
expenses. It is highly doubtful that any institution would offer to pay the applicant the amount of
current investment and then invest additional dollars into a property that is not capable of
supporting a large congregation with associated site barking requirements in addition to the
building footprint,
10
ivy
Airy; r CALCULATOR METHOD
,{Ig'YFrJlrl 1.7�17 l� lCP
MLI US BUILDINGS: CHURCHESINITH SUNDAY SCHOOLS 3
CLASS TYPE KKTEFdOFE WALLS INTERIOR FLUISH LIGHTING,FLUMBPNG ]i EAT COST
sld:4114
e, sudeYl vim, AND IMCHAHICAL Sq.M cu Ft Sq-FL
Q*W 9ga1 Or®naerr�IpreMeris,adde2.o, SPRGL�Egh9ng.Bkn-dMi m.gmd V:armwdc3Mair
A . "". T„ a Palo YYn... _ _ rdrhle,orpgLAl4wr�1 uB opm ogquar�lmnaing .". I OM67 24.64 23p W
Average Conal*.ffwul Brad gem boded 0"pit*am wamenwgn, 1ttl+ 7e 60hGr0 aratl lyYTth'0,
Yrfidv�a,bra*Ir" lens, ow dbsiro4�1141UxEt awuntl PaolgrpF JS.C� 1;ld3.6E 15.84 17$,94
S-W4905aanuL1ap111.0w drnmentalP- orkaOplpF 9;uWloYay,munrleytoftVaad WYIn11fa1d6frtlaaak
aAeingQ lustald hin
13
_"._ �.,.. . .. mur4rw Cirp�SraQ,v Ye pasxagm OULlr 9 _ �ig14r0� Z"4.93 1431 22e.da
A4en,qp �ridDW&JWM Yb2 g44aY,lee tl OlyyyY aaorra arrarernlgliCw, Ado*urto iyhlkag and .'18r$ . ."....
Lfmrrlr7y.q dem dlw=19rkwnia,email ern fadaa9e A1C. 1611934 1D.sp 151993
9"WL F1nYehleorvyarr0VFr4tr�8, I.MPL1oaQarsl1Pe4ddetak 9f>t�Ldl�hllnn.uvayelelem,� wrmerdagplirlr
*Llw.arenneGIL-OM urm -rpMIrP hLrhL 1Vr�i IUF" Gpafown ou11e4!RIWr2n - ^yryl---- 2w6aff 15.53 3�2{d
,,,3 FwA I1rzk or IhWX Harm a in, 63ad PLaetor crW04 cd MK vCT, GM.d lLhtLg aro vwurd m, Wenn arad ggdl Ak
_ _ xindoxs QmarcN um quad be!{*+dermltlf gf an&-oms 006 dafvoom
AWrllgtl LLldl afhk_1�Maw MM,few> nfwo L7rlkrelf.+dryd�rl4oNaw Uls,Ime A' � 1831.30 11 3 leo C4
■4r4rod-0[a-V4rdgrs __ arnwTWlel te!Ll.NkL grw�lMij, °� 60L nw wd f�+'n6lg, F90A 0AC. c3u.Llo
krrreaM eafadatl 1399.31 X19
Low-c 11brkkorGeek f 1�p�y iiuulIr1tltlnr1uu
cou tUo! Ptxn 11 xpbbd4u p0lr angmam31.1ar�s= �gaalela: 995JBB . rKA Azad
Ew wiw fax btkirorap;imydndw.fi o 91Mmuntebpgalleranoofl6deml, 9Pr4Lalfiuf"n wae'atlt"LonYU1 WWfflisalmpAlr
_ *irILLC�Ywow rok[Knaa - cupl.nuwb11ee d7o _. oL19U4om outle4. h r-- x+41 l+l.ty 22FJ30
rx" LLpkM reneer,aLgL MuCSa or eltl2ag, Qeod"Le,or W"CL VL GW Iphdn uM aErXr.1 m, worm orad mai�lr '----
D __-�.. Mn&i aaagar#iledum -- eW4r de 4tmMGn MEL-i2ig-ceetrmm�rha�k _ � 71f35E9 10ae3 ]7QaU
AniSaFuuu Of aldwq.W IWFwd- I}ryWAl erd raaaears,ArLY20M.tie. R94gaaabo buh irap and pkerLLlrp, -'
_ gL,s�,wl3o-aI,eamolim a 4kr415indarddwag m4 ftwFWNbb" _ PgMk EAC. 1�7b.$6 7A9 123M
t Laxanleamq,+gr'ti]r »4ia"m111marand na�zsrr,.lrrd MaiAllrahriphtlrrn#+9plumhby, Fersa�dak
�y Pohit#rr*�9uGrlMrrR81 I 0imroarnmm F_rc Bit92 6IA $B"06
1JF�mg LOA." fiihedl0.goillkhimpYn4l. 47rMLLA47nkUld.vkTdmmp.LL14. MnlmurnggrilPlpetldpk. Wry
raw w.r44,ntfta1l d&=Dw4 r�. =1 F6rm6 am {WAD 5-1p fO..gB
am riHtlaw aratl hNrmakL gooal G=d d or NKK ,vi o Me.mp6LL Good l4hlka0 WNW el m,poop Warm aad mol 4&-- _ 9+1ed'or of mebiirru roorrro. - tlpeeLoorn iNgrgiPlumhin0 1696.47 0"67 157.00
�+ hmdob q 1eaAYthaunft6h parrs§.%* 0 -..
V Alpe _ eWned•gL0.*4 MThtlRea Nfr rrrFaufl� daargpgr¢ fe�.wmdaWasp erhd PEL'rWL•p. petAgp J.C. 1737.95 #.19 115M
Ld4'P}N Good r"peneb and MO.F.)WMd CVVwA.AALNaetiC dia.Ma4h tio. rkahr4a10Lkv
'
hem",waw Wen far Eqr+ mkkrpm t�morm dwomom lelMVM Phcn4Uq. Farmdak- 6?93'Y 6.2� aim
BAS EATS
{2p4P6am iialnrMaert ooracrygk 1pr CIW4lraarn frmhee,KuarFD;6*.
--.._.Wde'b? ot+Y6w"x FMvm&udgkmwm J"90/uralphdnYaraOPMBNq Huwulu 1291M 7.50 IMAM
Fkfttd PIaflPralW&r FlntrMdr4ahre.aa�ha146y
• - ---__"-- " -. -_"-... _Fr_ +SWgwlYgqhlNpatl�allrLYp9 tiw++aw ilra�r "e"81 1g9Llq
shoah wmd L1rn ogcSl3K ee M1 �rhrgrr *ocwI rw161krre, tchDRtLp LUah meg<rLY CyOni F f. 6$7.41 �7$ 76.56
Sh'FJ hod um"WWWir"ler 41rafir"hedaa>ragnardp"], N"MumfuhLbV.I"I --saw ._ - 64507 - S.M 36.00
cimpgam noinromm tl-Ll+glrkt ,pLpmk or Ckmamm fi'dohoo.wM4 uft, +ffpplp a fl Nand plumbLng Foroed sir
1��y 9�d.f3 S.EE 1r4.9q
CVS F1rWLyry AIyL�rgrlAyrmgkrtpelar - Flrrkl dm*m.aephoRmar -
Aaggw6EfghllnprdpkurrpLng FvoadOLr 171.0 S,q6 s1AO
SarnfiLa+atl _Lca�LrMlnntiiNl MwiaLmlow ftwdk..kkh.40 AIk:rI)FIN4 11a0rradphunNng upWrSrr#ae.�r:
Unikkdw4 Uakfi euinwricr --- Unfil6hedaepryglarkliflipl Milkman Orrtqu 11uni 0,--m 298 , 37.25
BISEEmwNkNrM-LhwW%OfO"BmNa 7nxwdvnk>Fgrwnlj "sen-aregvVjjMIk H41E:FElPtYi_I horoftnle eeeP 1
um K%7 B oge A.AOd fu nrrklom rrgm.ppp4 23.
F DTFA-For BI MNSIonl Twp 1 LGudewril4 xilh CurCl"aLob eeparalkA Ix1Rt Clams 4r sort hellom al PP249 roe alher reRnamgPk M1nlas
0 UNW.ON 5.190 Per K6-real 0851 W L u&d m0wy Wtwa uLILud u 4XWM rd ifl k art
uo&uo.440011JIOFykp+ W{127,01Pnsquaremelerk Ada for
PLPY9r4LLnd impranronl#Lam$Ycilorra 59 enq 67 For meeBrap,eM S#tl1on 6'k
.4URl.4if2 dWUATi*Yg3M,F 21--l-h O-'ed mr Alf F-0lr--r8r sir u1hh+rhe&vmw.Ftk,*ksrjw Aug 41R,
u Mr}CwrJ.ge'rR for uaefJo-n5,m.kt,ur.¢ia r..r,,.,r.aq rykr.nyy.aw�rm«4 r+�. NArrrrhunr rr.r.µiiW�rhr.kr&Errb rr.wiU'�.us {1+17
11) Playground
The subject property would not be conducive for a playground as it is located some distance
from a residential development in a remote location. While the subject parcel is of sufficient size
for development of playground use, there are no commercial playground ventures to compare it
to. Municipal playgrounds are free and open to the public. Given this location, existing site
development and developed demolition and disposal costs, it is illogical to expect any muxucipai
board determining it appropriate to offer the applicant a sum of money in excess of the existing
investment. Thus, it is not possible for the applicant to expect a reasonable return on investment
if the property were converted to playground use.
12) Produce Stand
A produce stand is a retail enterprise, dependent wholly upon customers passing by on the
roadway. Success of a produce stand from an economic standpoint is dependent upon managing
the cost of goods sold and for the sake of this analysis I have considered those costs a constant
and identical to comparable produce stand locations within the Town. This property fares very
poorly in comparison with the known desirable factors for a successful produce stand in that it is
a very minimally trafficked mountain road. The traffic volume is accepted as a very low number
in comparison to those roads which support produce stands. For example, Aviation Rood near
the roundabout and Bay Road just north of the town office building both have moderate to high
traffic counts and plenty of sight distance visibility. In stark contrast is the subject property, with
a gated entrance crossing a wet, low lying area and the only true location for a farm produce
stand being the present site of the storage building. While it may be argued one wouldn't have to
demolish the storage building to have the property host a produce stand, it is not likely to be
controverted that the rental income potentially to be derived from the farm tenant would be very
minimal and likely insufficient to pay the annual taxes on the property. Therefore, it is my
considered opinion that operation of a produce stand on the property would not provide applicant
with an expectation of a reasonable return on the investment he has made.
13)Pubic or Sem publk Building
The analysis here is similar to other categories evaluated. Due to the subject's remote location, a
public or semipublic building would not be likely to be identified as a desirable location due to
the driving distance from population centers. Most known public or semipublic buildings are
designed and operated to be accessible throughout the year and are typically located to be
accessible to the constituency served. This location is not conducive to host such a facility.
Furthermore, if one evaluates the site conditions it is easy to conclude that the costs associated
11
with demolition and disposal of the existing structure, coupled with the costs associated with the
site acquisition and development of a new building designed to accommodate the public, would
be prohibitive. It is mfr considered opinion that the applicant would not have an expectation of a
reasonable return on investment if the property were converted to a public or semipublic
building.
14)Riding cademy
A riding academy for equestrian events presupposes appropriate space for riding(the show
arena) as well as sufficient space to develop a barn for the horses. In addition, an office ar
residential use may be often found in conjunction with the riding academy use due to the need
for regular maintenance and care of the facility and horses. Due to the subject's limited acreage,
a riding academy is not believed to be possible to host. The topography of the site provides for
limited areas of level land and the cost to raze the current building and construct a new riding
academy (arena) is prohibitively expensive.
Demo and disposal cost estimated at$100,800 or $12. x 8400 sf.
$18.45 x 1,13 loc mult = $20.85
Construction cost of typical riding academy(arena) $8000 x $20.85 — $166,800
$166,800+ $103,000= $269,800
Estimate value of current building$187,677
Therefore, it is my opinion that it is unreasonable to conclude that the applicant could expect a
reasonable return on investment if the property were converted to a riding academy since the
presumed profit margin would have to be outrageously high and illogical in order to support the
costs associated with even the minimal elements of a riding academy.
12
CALCULATOR METHOD BdCfluvrrY #
ARENAS (1428)
CLASS TYRE EMRIOR WALLS INTERIOR FINISH LIGHTING dr PLUMBING HEAT COST
S K Cw Ft .FL
Faoalrenl Shru�Qaex,coedhk#or FlnlitsigSlW.Wr149a,rh�g k�lq,aewrotlrlGy7e4f.;ae.
bonneft P24t7g096ewrrrba - am0.4uettY M,r41144 6oEd iee0ooma and hllpv_n F7hfra 651.ZZ _ 13A5 AR30
vuW Sleekava�odir++,4tkcNP Fk7,e4a1a,ryaadnom In' rpnNi%and woler - -#3A75 4M X0 6
+ —' - -- -tlll�rp,rmlfiar7otrra. -- - artQM14ekma-goed0�a51�Yrra ,Ore - or.ao4,ruWVr.9R#- _ _ _
A�mpe fikr�urf>1Fup-�ary'pltih Dome I�nikrllltetiWom tYst,Ilooq N lydeq�a Ighhng and Nome --- -'290.43 T 2,70 77A10
le+a br flnbh Eeedneu and va�r4upq wdt7er eeniae
Lnxeoal l' l4hkdh.iBreKekeme 64dmlYn ,aorMlbxiiy ...-- - hlinlmumservlaes Nlrlre Yf0.15 IItU 18;hp
Exoalle,l GLIsmor*We[Itamtr,0abd Fkwhod*WK WwW4,4it77if7tieeae, WOOL NM 597.46 6.8E 6RI,74
- - ddrr�q�gp Y101erxC3 L,la__ OWlteMlOOrirt and klthoes
Good C,00d 7dgr109f Sbf00t7arkwood FkL gas.gwo 1Wq inWW&bm, G6W lIpktkq and waror .
D arsLLelLr�rrp,�pllieharer+t feedhetkrm, r,euhtOhuhrl Crdala,resWonrs T Nam 344A4 —3.20 $k I
�r4ro90 $d,par�w4Or`NgNJir ". Unrrdthadtrenamsa,ikgpin AdequReLOhiinpend "Will 108,8 1216 1LXAR
L.---... iS6Ma h7terfa IlrrLsh _ Ipd98tl[rind rradsmms Yn0.11f iT'.k# _
LM owl vilwal hoards arplFyvotl W1 L7dl wwm Raaf,eaare emlh,Sew MLnirn;m r�fY6r'e}Sid
ux Fame
Leaare waoabol Rfth"OWN IIapF'e} TdLw wnek* Hord 11f fW 197 16-E6
G00 G:ad a'edM1dproneh,ianaL M Pix Supt,94441k7hrs kiirrayr bar, r;aM IWWgand wwr � M-lip 2.W MOD
Pufrhirrrr,im osibenoe ht,i7"MTL.2X44rtelii'IFum,phout E—M-rsalr{yrrrt
+3oodWAWaoperfmr00%w=v . LkRrrytwtferanrrea-Morxi, iuequamo7hu^eyrrp ..._
LfP41.E' --
RPM- rPM dl W%d WhrOWN watersorvkn ---- .. --- - i2lLf8 i,5i i4A6
Law CULL Pdm kwgA uwfil#81rq,=Wdrla 114or.�*a"ft- MNkrrn khurq ad
some noorirrp_ 7+'awr rervira + �9-id 0,92 9-89
Cheep ptftknr,meWinghn0 LhdnWmd.owfobr,tarese LUOM1a41edrSrel0* Slone Sam (IM War
amno CNV
t140� Chraa WhIom pou W*ft twofrsrre %b&: UR WW.insoof,e*rala MitFYsnaLdrrr�anlX Hone 7$.1Y
♦' wmr.up1 Wah,Eo Un chars nMrv.prrgq Mr Flmcu
S benq jaPW Ynereyl9tl 0A%Q, PLaNh w W e,+ Node 5M.97 LM 19799
$�CaYaM1L aay�,ekR 4741 itlrp4r5t74 ir^gmfL�frame■ �_ DM pm*wrm ane It hen
G4€d ImuLetodundwrh pwd4.mN Fin.&WE.mrd Roos In snap tar, IMW RghIAM dadwuLw ^•1,� •••._•• -
k8me,errrlantrary;+F bbluclrOlyacdgj"su�j zAkm MgDDD'a MOP 0]4A6 9.45 31-60
Good m Lal panels serd road 4.InrwftNd awa area,doom In Adagwo pO&4•rttl 108.99 1i6 I"-.
ownehxllsv0d,d, 4rrl�tapkandw4rlRxedra rp7erxn#q --" -- NO '
L*wS
scar hed -'—'--- ------' ------._ ... --
' ----nldkq,yor,swlnSEW kLvlrram,iedkx.sorrehmtp h11n1nlumSeNfbt4 Hole i94.7# 1.CP 16.16
MpAp 51eU farm,mm&HkgynM4lwd G71 Hoar.emum Iyr,y1X111YeNWl4*ppF -1d0ie 106li .8-9i �
EQUESTRIAN LEAN-T560
A4atepe ,=3rLT1114lda 11NI +g, 91Ws,led000rgsor� y M",x"pul ing&WWilm F;ar.e I%= 1.1�! 10.11
wir,Uows and GGPq ----- -- - '— ----. -..
Low mi SkSo exbra&km,hoerd sldhq a mE0mawaffim Minknren',UNION r(aw 19935 1D2 %is
0�
hY�ope Skis asrer,skrLgood mawladwh sLa,,uauomr%.,amriV
D1.deg4#SeiOhlla0and recx Flom 1630 1,6a 1fr2a
po,-c mama wknd4y W4*a ftwi 4M W54 aritft■xHrhlket4rtrtulW,0aferr Sonat Vag WW SXWkg "inWedbervkols NWW 96.44 0.96 an
A-raw %MpSf",lift 6me.wkknn SW4.wanxnr.Wr=LWInO AS"uefefpirtinanilweter Hung 179.99 7Aa low
pe
Low w9 Sf6ee7Atrafon,elae1rrardeldinp Son,?51411tR"AIk4Yi'9 ML'urainin tmik3M "M: 109.79 7.02
HUML Is Lein law vulliv Feao-iva,em Pepe 27-Emether ms%on h4 found W SeWan 57,Fror e6adt and egAkdaek ar.#s44 PV9937.
1WI2%rrJAIAiA#i7ovsmi7CE7AebhledrdedamihfrpgeterannofpibrwlYrrM1a41P r¢hrd�krl}srdfa27Q1 .
C M1P{s..drry7rr.rAr. rwf 4i a'�n-�.dr riru,n,„�d,e.,.nr*.tmx�t,r�+.nr.,.m,vla.,el�4r� r.v,r�.�er�r.+vr brh� Ydi '. &M7
}5 Wand, gravel and topsoil extraction, commercial
Due to the subject property's limited acreage and soil geology - a sand, gravel and topsoil
extraction area or commercial use is not fusible. All commercial mining operations in the town
are Iocated on significantly larger acreages and within known geological deposits with favorable
site conditions. A IIS DEC Mining Permit would need to be obtained with considerable soft
costs for surveying and engineering to make the applications and seek approvals. True to the
mine reclamation requirements for establishment of minitnal residual grades upon mine closure,
the available acreage and quantity of material theoretically possible to be mined is dwarfed by
the mountain of capital required to obtain approvals, if they could even be obtained. A mining
operation is too speculative to provide sped-fic dollars and cents analysis upon, however, the
assumed cost of demolition and disposal of the existing structure renders further analysis moot.
It is my opinion that a miring operation is not going to provide the applicant with an expectations
of a reasonable return on investment.
!6) Sawmill, chipping or pallet mill
Again, due to the subject's limited acreage - a sawmill, chipping or pallet mill is not believed
likely to be an investment that could provide the applicant with a reasonable return. The present
structure is not suitable for mill operation as it is not sufficiently large enough nor does it have
suitable interior dimensions to accommodate large machinery and the movement of wood
products through a processing line. The Royal Wood Shavings location in the Warren-
Washington Industrial Park is a good example of a chipping mill where raw logs are processed
into animal bedding. That facility has drawn the ire of neighbors and others within the industrial
park for ft's noise and odor generation—and risk of fire. The subject property is located within a
residential neighborhood with people in greater proximity to the subject than in the referenced
industrial park example. That proximity is likely to eliminate the potential for site plan approval
for such a use. Furthermore, the site is not large enough to aceo=odate the necessary
loadinglunloading areas, log storage and processing areas and finished product storage areas.
Demolition and disposal of the existing structure would be a considerable expense before
calculation of any additional costs associated with new buildings and equipment. In addition, the
remote location renders it difficult for shipments of materials in and finished product out. It is
sexy considered opinion that the applicant would not be able to expect a reasonable return on
investment if the property were to be converted to use as a sawmill, chipping or pallet mill.
13
17) Single Family Dwelling
The most compatible use of the property within the RR-5 zone is a single-family home as it is the
predominant use within the neighborhood. That statement is true for any residential zone in the
Town. However, from a financial and investment analysis, there is considerable waste involved
in such a use with this particular property because of the 8400 square foot structure that exists on
the property. As I've pointed out above, I have calculated the demolition and disposal costs at
100,800 to remove the structure from the property. This is a significant amount of"'wasted"
money that could also be expressed as a"financial loss of value'.
1 have been asked as part of my analysis to focus on the applicant's expectation of a reasonable
return on his investment. Anytime there is a substantial financial loss involved, such as here
with a "sunk cost" of over $100,000, it makes it very difficult to forecast any passible gain, let
alone a reasonable return on investment.
As assessed and now, as appraised, a significant portion of this property's value is attributable to
that: large, expensive but inadequate, structure. When I perforin appraisals of high value parcels
where the raw land Folds the vast majority of the value, we often refer to them as "tear-downs",
meaning that the buyer makes the decision to purchase the land despite the "sunk cost" of the
demolition and disposal. Most of those "tear dawn" properties are waterfront parcels or in
highway commercial corridors witb moderate to higb traffic counts and the raw land component
is 80% or more of the total value. In this particular case, we have a significant percentage of the
property value (48.45% of the assessed value and 48.41% of my appraised value) attributable to
the structure itself. The acreage itself doesn't possess a location value, vista value, waterfront
value, or a traffic count value that would likely motivate or entice anyone to pay more than, the
$2.00,000 site-only value that has been attributed to it. Anyone seeking to purchase with intent of
constructing a single4amily home consistent with the comparable homes within the
neighborhood would need to factor in the cost of demolition and disposal before performing any
site work associated with the construction. That "sunk cost" would negate half the raw land
value for this property. Expressed in financial terms, that is a loss of return on investment. If this
pending application should be denied, the applicant will certainly experience a financial loss (not
a return) on investment. It is my opinion that the estimated value set forth and calculated on
page 3 (as a Light Commercial-Commodity Warehouse) would be $387,677. If denied the
opportunity to use the structure for storage, and a conversion to residential use undertaken, my
estimate of value would necessarily remove the 187,677 worth of structure value plus the
demolition and disposal costs of $100,800 leaving a residual "residential use" value of
$99,200. That would be a loss of$2.30,800 before inclusion of transaction costs.
Estimated cost to raze current building and construct single family home:
Demolition and disposal cost estimated at 100,800 or 12 sf x 8400
14
Viewed in another way, if the owner were to retain the property and elect to Demolish and
Construct a typical single-family home with 2000 SF x S 107 = $214,000
($95,13 x 1.13 loc molt= $107)
$214,000+ $100,800= $314,804 additional cost to improve as single-family residence in
addition to the current investment of$330,400— $644,800.
In this analysis, the applicant is also losing financially since the appraiser) value of the new
single-family home would be projected to be the $214,400 construction cost plus the raw land
value of $200,000 = $414,000. That would yield a loss of $230,800 assuming the newly
constructed home would sell for the assumed value.
NOTE: the construction cost utilized above of$107 per square foot is considered to be on the
low end of the local market and escalating annually at a rapid rate. Furthermore, a 2,000 square
foot home is a very modest size for a parcel with the assessment of the subject's. Typically, I
would expect to see a purchaser of this value lot developing a considerably larger home, usually
3,000 square feet or more. Therefore, these are very low estimates of cost. With that noted, 1
submit that it is unrealistic that the applicant could expect a reasonable return on his investment
if he were to spend in excess of$314,800 to convert this property to a single-family residential
dwelling use, given that he leas already invested $330,000 to date. In addition to the simple
construction costs identified above, site work and landscaping improvements would likely be
necessary expenditures that would further demonstrate that it is financially detrimental to the
applicant to convert the property to single-family residential use. Even if it were assumed that
every dollar invested into the new structure would generate a similar value in a future appraised
value, the waste associated with the demolition and disposal costs is never going to be
recaptured. Thus, the applicant has no expectation of a reasonable return if the property were to
be converted to single-family residential use.
I8 eter inzv y Clinic -
Due to the subject's remote location with limited traffic flow, a veterinary clinic is not believed
to be a use that the applicant could expect a reasonable return on investment. While the building
may be suitable for housing small animals, it is not suitable or up to code to-serve as the clinic
space itself which would be necessarily staffed by bumans. Life safety codes require minimal
building codes and this building could not be brought up to code--demolition and reconstruction
would be required.
Demo and disposal cost estimated at $100,800 or 12 x 8400 sf.
Construction cost of veterinary clinic:
15
Typical size-4000 sfx $113 = $452,000 ($100 x 1.13 loc mult= $l 13)
$452,000+ $100,800 = $552,500
Estimated value of the current building$192,400.
Furthermore, as discussed previously above, the site's remote location makes it unlikely that
animal owners would travel to the location as compared to competitive offerings in more
populated areas of the Town and region. The costs and expenses are prohibitive and again
involve a significant identified waste of asset with no expectation of a reasonable return on
investment for the applicant.
Summary:
Following the detailed review and analysis set forth above, it is my opinion that the property is
incapable of earning a reasonable return on initial investrnent if used for any of the allowed uses
in the zoning district. I have carefully provided these actual "dollars and cents" calculations for
your review and consideration as well as the source reference materials which suppor these
figures. As noted, I have been careful to be very conservative, in these estimated 00sts of
redevelopment. This property, as historically developed, is very unique and bats a substantial
arnount of initial investment. The circumstances are also unique in that the Town of Queensbury
,Zoning Board of Appeals has twice previously approved Use Variances and in both cases the
approved uses have ceased. The applicant's proposes use of the property and existing structure
for storage is minimally invasive as it is reportedly not used frequently, doesn't host visitors, is
not open to the public and generates almost zero noise. From an appraiser's standpoint, it is
clear to Foe that I would not reduce the appraiser) value of the neighboring residential parcels as a
result of the proposed use's presence. The specifically limited proposed use as a storage facility
for classic cars is just about the lowest intensity use I can imagine for the subject property —
generating even lower traffic volumes than the allowed cemetery use. In my opinion, the
variance, if granted, would not alter the essential character of the neighborhood or affect
neighborhood values in any way.
Should the board have any questions for me I will be avai lablc to answer them at the time of the
scheduled board meeting.
Very truly yours,
RR 6JPPRAISAL r
RV E
Ttidmas' err, SRA
16
`T&"f' ° FJ'
CALCULATOR METHOD
x...xcoa.r m�7
VETERINARY HOSPITALS (389) -
CLASS TYPE E MRIOR WALLS INTERIOR FINISH LIGHTING,PLUMBING, HEAT COST
AND MECHAWCAL Sq.M- Cu.PL PL
-� Avuaae ft"LPm4dn wstworp'ywd[.5i m� gip" pMy6fngL Hot OWohRM
p"°�'* °�i7i m facdKkL - 1 'u+y 'Good uryp 2171.31 1683 377.00
ENDOW Fppq desk woWpr94i" Ptztior,_..- lc, hdd mpY {`.hf7tl llghling urs]yMry�r7p,lda, H'arl��rlC Eeelalf
_" paotl e.eaeesane aia _ iNshm,irmoproxv Wm Fa kand y pMr tiMCR tF. WmM@ 234.44
c Good - "-Faoe 6nek GradrrMr�pUuloelt PLpWW0r dWYi E1.r[rri,4� antl Gd6dI{plrlurp aMp4n6fir�, -- --- -
hfie7ufffm rmmke f�mL�� _ a�bb _ _ P`d'4Y AX. 7986.7# 11.97 171m
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Boirower: Silverberg File No,;
Proper AO dress.23f) Lockhart Mountain Road Cas2 No.:
E Zip, '12
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Borrower: SliveWm R
Property Address-,230 Lockhart Mountaln Road Case Na.; _--
Ciy Queensbury State: MY Zip: 12804.
Lender:
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Borrower: Sliverberg Fie No
PropegyAddress.230 Lockhart Mountain Road Case No.:
CkL Queensbury _ _ _ Cate: NY Zip: 12604
Lender:
Low Ceilings-Low Access
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CO: Queensbury _ sItate: NIY Zip: 12804
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�l DOCUnEKTO 000060:56
LA VOLUME o 3557 PAI-5t o 2.09
WARRANTY DEED with Lien Covenant
i ,+ TFUS INT,OMM MADE THE 21 ST DAY OF JULY,TWO THOUSAND EIGHT
BETWEEN
W LLIAM 13LRw1'i'ING,residing at 127 Thud Avenug, lake Lucerne,New York,
X l u{.- 12846,
I
$
L ' PAR'T'Y OF THE FIRST PART,and
ERROL SMVERBERG and LYNN SIL1VERBER G,residing at 33 Old Assembly
F Point Road,P.O.Box 481,Lake George,New York 12.845,
L PARTIES OF THE SECOND PART,
t
I NES SM that party of the first part,inwnsideaation of one Dolisroud 001104(51.00)
lawful money of the United Stems,and other goad and valuable considcradon.paid by pasties o€the
second par%does Hereby grant,remiss and release unto the parties of th►-second past,their heirs and
assigns forever,
THAT PIECE OR PARCEL OF LAND,situate,lying and being in the Town ofQ ensbury,
Warren Comty,New York,hounded and described as follows:
SEE SCHEDULE"A"ANNMMD HERETO
TOGETHER with the appurtenances mad all the estate and rights of party of the first part in
and to said premise,
TO HAVE ANIS TO HOLD the premises herein granted unto parties efthe second part,their
heirs and wyig m forever.
And said party of the first part covenants as follows;
First,not the parties of the wand part shall quietly enjoy the said premises;
Second,That said party of the first pmt will forever Warrant the title to said prmni-m%
THIRD, That, in compliance with Sec. 13 of the Lien Law,the grantors will receive the
consideration for this conveyance and will hold the right to receive such wmiderafioa as a meat fund
to be applied fnt for the purpose of paying the cost of the improvement and wilt apply the same first
to the payment of the cost of the improvemeat before using any part of the total of the same for any
other purpose,
. �f - "ii:�e3.CJs:$#ivf..i-Ir3.Eyes..c:eLr. i:,.3ti�n•.}tYr� ._..:�.rzk-'-'�-'s'—:�i��,��u:�,tisxvi5 :�:7�:iZ:S�-z�.i3,ies. .:" i�
00"HENT4 00006056
VOLUMER 3547 P AGK I 210
IN WITNESS WHEREOF,the party oflhe f 7stlpatt have herwmto set bis hand and seal the
day and yea ifrst above written.
IN PRESENCE OF
V;H,LIAM BUNTING
STATE OF NEW YORK
COUNTY OF WARM
On the 21st day of July,2008,befiore me,the undenkped,pfly appmtd WILLIAM
BUNTING,personally known to me or proved to be on the basis of sWsfnatory evidence to be ft
iridividu d(s)whose names)is(are)subscribed to the wid in kl Mwaenf and a@kauWWpd to me
I that hclshtlthey executed the same itxhidhffltheir capae*(ias),andtbat hyhiAtFi6W siBnaturo{s}
kon the in�r the in&vidual(s), or the person upon behalf of which the individual(s) acted,
executed this batt za mt.
RIOT PUBI
WE" ids
lkmmlaxlan E•�'-= J '
.0_ o, Lot I
nj
r
.777,77-7 .
77 Q6:.:7
t?AGtIP'I�I�I't`� OOUDdi4�b
VAI UKE, 3597 PAGE I 212
West 240.59 feet to a point rnsrking the south+wesierly corner of the lands described hmin;
nmaing thence Norffi W 08'04"iEasE,70,14 feet to a point on the southerly line of P=d Oat
described above;n min thcnee South 80° 13'38n fast,240.00 feet along Parcel Ow described
I
above to the point ate place of beginaiu.
I
Being the same premises ccawyed in a deed from Lito Abrams to William Hunting dazed
Septcnsber 26,20D3 and recorded in the Warren County Clerk's Office on November 14,2003 in
i Book 1351 of Dw&M page 317.
- �3�b5�nd`3,j;iS �i�bWi'Ara:•mioti� :�x:s:i�d.:L:�l�i4i'' K!m "' �:,41E+a:rk;��erkaAaiiat:�'.�r,;�.�G�rt�+�--''`� ' +4.++}"��'
VW 3
THOMAS 1q. SRA,
379 Bay Read
Queensbury, NY 12804
tnmorrovw=11W,ao].ca m
Phone (518) 743-0306
Fax (518) 743-1377
Employment:
June 1992 to Present - OTr Appraisal Service—Owner of Deal Instate Appraisal
Company
April 1987 May 1992— Alvey & Cote, Ltd_ —Real Estate Appraiser
June 1985 —February 1987— Hooper Holmes, Inc. — Lxisurance Inspector/Cost
Estimator
February 1984—June 1985 —Orr Insurance Agency— Insurance Sales Representative
Professional Experience:
Since 1987 I have appraised over 3,000 properties_ These include single and two-
family residential houses, condominiums and some specialty uses including churches,
resort facilities and island properties.
I have appraised real property for the State of New York as well as other state
agencies such as the Facilities Development Corporation. I have also appraised real
property for lending imlitutiens, which include; Citibank, Chase, Norstar, Troy
Savings, GMAC, TD Bank, Marine Midland, Wells Fargo, Bank of America,
Berkshire Bank and Capital One.
Courts in which I have qua)MW as an expert witeess are Warren, Essex, Albarx ,
Hamiiton, Fulton & Saratoga Counties,
LicenselCertif cations:
New York State Certified Residential Appraiser— 10/0711991
Certification Dumber—450000115 9—Expires 1010712019
Education:
Graduated in May 1982 from Plattsburgh State Ur&ersity, Plattsburgh, New York
with a 8,A. Degree in Sociology
Professional )Designation:
Senior Residential Appraiser
Appraisal Institute