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<br />BOARD OF EQUALIZATION MEETING MINUTES - AUGUST 24, 1994 <br /> <br />Page 2 <br /> <br />"appearance of fairness" issues. Chairman DeLeo suggested that he sit in the audience as an <br />observer. Mr. Westerman went on record to say that he did not object to Vice-Chairman Broders <br />observing the hearing, as long as he was not involved in the decision making. Mr. and Mrs. <br />Hansen agreed that Vice-Chairman Broders could observe the hearing. <br /> <br />Chairman James A. DeLeo explained the hearing process and swore them in. Mrs. Hansen read a <br />letter into the record that they submitted with their petition. This appeal is for the Old Alcohol <br />Plant and Marina. Mr. & Mrs. Hansen were forced to foreclose on the last owners when the <br />property was scheduled for tax sale because of $106,320 in back taxes. The business is for sale <br />at the present time. An offer of $2 million was made, which the Hansens did not counter offer <br />or accept because the terms were not appropriate for their situation. <br /> <br />Member Bill Marlow asked if all the property is valued as commercia] property? Jack Westerman <br />explained that the value of the parcel where the restaurant and inn are located reflects the value <br />of the commercial improvements. The condominiums are assessed per site value rather than per <br />lot value. The other parcels are assessed comparable to other residential property in the area. <br />Several of the parcels are the drainfield and reserve drainfield that serve the business. <br /> <br />Jack Westerman explained that the former owner paid Mr. & Mrs. Hansen $2,800,000 in 1989 for <br />the property, which included the old marina. In 1991, it was revalued by the Assessor's Office at <br />$2,345,685, but the new marina was not included in that valuation. He added that this is unique <br />property and there are no comparables in the area. <br /> <br />Member Bill Marlow asked Mr. Hansen if they went through foreclosure procedures when they <br />got the property back? If so, what was the value at that time? Mr. Hansen answered that the <br />value was $2,400,000, the amount of the unpaid contract. <br /> <br />After hearing the testimony of both parties the Board concurred that they would conduct an <br />inspection of the property and make a determination at a later date. <br /> <br />The morning session was adjourned. Vice-Chairman Dick Broders and Member Bill Marlow were <br />present for the afternoon session. Chairman James DeLeo was not present. <br /> <br />Joseph Pollack <br />310 Disney Road <br />Nordland, W A 98358 <br /> <br />BOE: 94-40-R <br /> <br />PN: 921 094 011 <br /> <br />Joseph Pollack was present. Dale Baron, a loca] real estate agent was also present to give <br />testimony. Bob Sho]d was present on behalf of the Assessor's office. Vice Chairman Dick <br />Broders explained the hearing process and swore them in. Mr. Pollack stated that he purchased <br />this property for $250,000 in June, 1994. It was an "arm's length transaction". At that point, <br />Mr. Pollack questioned Ms. Baron. She explained that the property had been listed for three <br />years. Her office had the listing for almost a year and she estimated that it was shown twice a <br />month during that time. She said she had no knowledge of any other offers on the property. She <br />added that, in her opinion, the fair market value of the house is what it sold for. <br />