2006-387I-Minutes for Meeting December 20,2005 Recorded 4/7/2006TeoC )eeeh
THORNBURGH DEVELOPMENT
UNDER EFU GUIDELINES
The figures below assume that each dry parcel could be split into 3 tax lots as per EFU
guidelines. Prices per acre are from researched local sales as per Ted Keener, a local real
estate appraiser, and do NOT reflect.the increased amenities of an upscale development:
1. Tax Lot 5000: 676 acres/3 = 225 acres each at $4,000/acre = $2,700,000
2. Tax Lot 7700: 158 acres/3 = 52.7 acres each at $15,000/acre = $2,371,500
(parcel# 203651)
3. Tax Lot 7700: 473.6 acres/3 = 158 acres each at $4,000/acre = $1,896,000
(parcel# 124950)
4. Tax Lot 7800: 437 acres/3 = 145.7 acres each at $4,000/acre = $1,748,400
5. Tax Lot 7801: 40 acres/3 = 13.3 acres each at $40,000/acre = $1,596,000
6. Tax Lot 7900: 38.8 acres/3 = 12.9 acres each at $40,000/acre = $1,548,000
7. Tax Lot 8000: 156 acres/3 = 52 acres each at $15,000/acre = $2,340,000
TOTALS: 21 parcels with a minimum market value of $14,200,000
21 homes would have minimum impact on the Tumalo community
Exhibit
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THORNBURGH RESORT ALTERNATIVE
UNDER DESTINATION RESORT GUIDELINES
This alternative consists of setting aside 50% of the 1981 acres for open space,
common areas, and equestrian trails;
AND proposes that the remaining 990 acres be developed into high-end 10
acre Ranchettes, for an upscale Equestrian Community with possible open-to-the-
public stables, riding trails and limited lodging.
There is a Fourteen lot subdivision off Innes Market Road called Grandridge,
with paved roads and all utilities in place. All lots are 10 acres in size.
Two of those 10 acre lots sold this year at $380,000 and $440,000, or approx.
$40,000/acre!
This proposal would likely yield higher values due to the considerable common
areas and access to the adjacant BLM lands.
Thornburgh minimum Market Value for 99 developed lots at $400,000 each:
$39,600,000
PRO's of this development over a full scale destination resort: Much less impact
on the surrounding community, traffic wise, congestion wise and with
considerably less demand on our acquifer with just 99 homes and perhaps some
public lodging.
This is a compromise proposal which still allows the sellers to make a considerable
profit from land that they have not utilized for many years, while also not
diminishing the rural quality (and value) of the surrounding Tumalo community.
Exhibit .:i7
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