$600K spent for what, exactly?

By CRAIG MURPHY Of the Keizertimes As it turns out, the land taken over by the Keizer Urban Renewal Agency for $602,169 isn’t worthless. The actual value of the 1.47 acre of land, deeded over to the city last month by developer Chuck Sides in lieu of the payment he owed for his local improvement district (LID) assessment, is listed as having a value of $0 by Marion County. “That’s a misrepresentation of the property value,” said Susan Gahlsdorf, director of Finance for Keizer. “It’s not worthless. The county gives it a $0 assessed value because it’s a tract. That’s how they value different parcels. It does have some value.” The property in question has power lines which make the land virtually undevelopable. So what is the actual value of the land? “We don’t know what that is and we grant the fact that it does have limited use,” Gahlsdorf said last Friday. Gahlsdorf was asked if that means the property could be worth anywhere from $0 to $600,000 — the approximate bill Sides owed. “Well, I suppose a person could theorize that way, yeah,” Gahlsdorf said. “I don’t know that we’ve had any kind of appraisal on that.” Nate Brown, director of Community Development for Keizer, said the city formally foreclosed on the property and bid what the LID assessment was on the property. “Our attorney wants us...

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