Laserfiche WebLink
<br />Board of Equalization Minutes: October 17, 1991 <br /> <br />Page: 3 <br /> <br />PACIFIC OIL PRODUCTS <br />NORMAN SATHER <br />P.O. BOX 227 <br />PORT TOWNSEND, W A 98368 <br /> <br />WILLIAM M. THOMAS <br />250 NORTH PALMER DRIVE <br />PORT TOWNSEND, WA 98368 <br /> <br />BOE: 91-015-C <br />PN: 989 700 401 <br /> <br />BOE: 91-016-C PN: 989 700 402 <br />BOE: 91-017-C PN: 989 700 403 <br /> <br />Chairman Dalgleish explained the procedures of the Board of Equalization and then swore <br />in Bob Shold representing the Assessor's Office, and Norman Sather who is also <br />representing William Thomas in this appeal. <br /> <br />Mr. Sather explained that the property is an old hydrocarbon bulk plant. There is an <br />underground oil storage tank that is empty. For many years the property was used as a bulk <br />storage facility, supplied from barges on the waterfront. At present the property is used as <br />a warehouse facility because of environmental regulations. The land is contaminated. <br /> <br />He went on to explain that the property is in a prime downtown waterfront location. In 1987, <br />the property was put up for sale and in 1990 an offer was made by a developer that wanted <br />to put condominiums on the site. A moratorium was passed by the City of Port Townsend <br />to stop waterfront development and within six months a city-wide waterfront plan was in <br />place. A building height restriction was adopted that stopped the developer and the sale of <br />the property. <br /> <br />The property is for sale again, but the City of Port Townsend is also interested in having it <br />as a park. The City's position is well known and therefore it is difficult to find potential <br />buyers. At this point, Mr. Sather feels they cannot sell the property or develop it and the <br />contamination has to be cleaned up at a cost of $250,000. Until the property is sold, it is <br />worthless. <br /> <br />The Board asked if the current owners are responsible for contamination of previous owners? <br />Mr. Sather replied that they are, unless they want to sue the previous owners. The 1985 and <br />1989 valuations were discussed. <br /> <br />Bob Shold stated that the land values from 1989 were consistent with 1985. There had not <br />been much sales activity in that area. The Assessor's Office did not know about the <br />contamination at the time of the valuation. He also added that the property is on the market <br />for $1.6 million, and explained this is usually an indicator of what the owner thinks the <br />property is worth. <br /> <br />Chairman Dalgleish asked what value Mr. Sather requested on the property? He had put <br />a "zero" on the petition for PN:989 700 401. Mr. Sather explained that he had deducted the <br />clean-up amount from two of the petitions (PN:989 700 401 and PN:989 700 403). <br />